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FRIDAY DRINKS: Hairs and Shares! · She's On The Money

0:00
Speaker 1: She's on the Money. She's on the Money.
0:23
Speaker 2: Hello, and welcome to She's on the Money, the podcast
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Speaker 2: for millennials who want financial freedom. Welcome back to another
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Speaker 2: one of our Friday Drinks episodes where we get to
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Speaker 2: celebrate the money wins from our She's on the Money community.
0:36
Speaker 2: There are as always so many great wins and confessions
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Speaker 2: that are shared in our community each and every single day.
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Speaker 2: And Tony, Jess and I have spent a very big
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Speaker 2: part of our week this week talking about all the
0:48
Speaker 2: things you guys have been up to, So today we
0:51
Speaker 2: get to expand on that. Before we do that, let's
0:54
Speaker 2: recap really quickly on what the She's on the Money
0:56
Speaker 2: pods were about this week. Tony, what did we do
1:00
Speaker 2: on our Monday money Diary?
1:02
Speaker 3: Our money diarist this week talked about how she grew
1:05
Speaker 3: up with lots of money in her family and then
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Speaker 3: her mum and stepdad split up and kind of went
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Speaker 3: from having lots of money to having no money and
1:13
Speaker 3: there being lots of negative talk about money in her family,
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Speaker 3: and she had a family friend whose parents did really,
1:20
Speaker 3: really well and she kind of got a bit of
1:22
Speaker 3: inspiration from them and thought, how do I make my
1:25
Speaker 3: life like this, how do I become successful? And saved
1:28
Speaker 3: her butt off, worked really really hard and now is
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Speaker 3: earning six figures. She doesn't have a degree and she's
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Speaker 3: got investment properties and yeah, she's like fully turned her
1:39
Speaker 3: life around. It was a really inspirational one.
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Speaker 2: I loved this one, as I do all of our
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Speaker 2: money diaries, but I genuinely felt after this Money Diarist
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Speaker 2: I'd made a new best friend. I was like, oh
1:49
Speaker 2: my gosh, we are going to be best friends when
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Speaker 2: you're in Melbourne. Let us know so we can go
1:53
Speaker 2: out for drinks. But I think that's my favorite thing
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Speaker 2: about the money Diaries. You kind of got. It's like
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Speaker 2: a hard and fast relationship, toty, Like you've gone out
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Speaker 2: on this speed day and they've told you everything about
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Speaker 2: their life in the first hour, and then you're like, well,
2:06
Speaker 2: I guess we're married now. So you just instantly feel
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Speaker 2: so connected with the money diarists, and I don't know,
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Speaker 2: it feels really special to have that relationship.
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Speaker 3: Yeah, it's like a brand new friendship straight away, which
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Speaker 3: is great because it makes us feel super super connected
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Speaker 3: and it's so lovely that people want to share their stories,
2:24
Speaker 3: but also like we get to revel in their achievements
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Speaker 3: as well, even though we didn't really have anything else
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Speaker 3: so we had.
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Speaker 2: Nothing to do with them, and we just get cool friends,
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Speaker 2: which I love, and I just feel like we've got
2:34
Speaker 2: this amazing little community of people that we are so
2:37
Speaker 2: connected with. In fact, completely off topic, I actually did
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Speaker 2: an interview earlier this week and I was saying that,
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Speaker 2: you know, our community genuinely feels like they're my friends.
2:45
Speaker 2: And I know that sounds really strange, but if someone
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Speaker 2: slides into my DMS and wants to share our money
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Speaker 2: win or a confession with me, I immediately just assume
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Speaker 2: it's because we're, you know, in the community, and that's
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Speaker 2: what the community does. And I was trying to reflect
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Speaker 2: on why that much be the case, like how come
3:01
Speaker 2: do I just assume that these people are my friends,
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Speaker 2: even though you know, other people might be like, oh,
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Speaker 2: they're followers, they're just from your podcast, Like why are
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Speaker 2: you so interested? And I'm like, well, it's because everybody's
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Speaker 2: come from somewhere and you to manage our Facebook group
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Speaker 2: and every day we have people joining the community, and
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Speaker 2: nine times out of ten you can see how they've
3:22
Speaker 2: come to our community. And it's actually because their friends
3:25
Speaker 2: have added them, or their cousins have recommended them, or
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Speaker 2: their steps sister has done something to add them to
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Speaker 2: the group, and you kind of just go, oh, like,
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Speaker 2: I know you might not know me, but we're friends
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Speaker 2: by extension, because like your friends are my friends, and
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Speaker 2: it kind of is just like this seven degrees of
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Speaker 2: separation in a way from the original She's on the
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Speaker 2: money group, because it's just compounded. It's not like someone
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Speaker 2: just listened to the pod and joined the group. And
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Speaker 2: you know, even if that's the way you found us,
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Speaker 2: like that's epic, but it just feels like you're in
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Speaker 2: my little inner circle, even though maybe that's not true
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Speaker 2: because there's like two hundred thousand of you.
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Speaker 3: No, I think it's true. I think you can climb
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Speaker 3: that and you can say, yeah, two hundred thousand of
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Speaker 3: my closest friends.
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Speaker 2: But you're just immediately And I don't know if you
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Speaker 2: guys do this either. And maybe I'm just in the
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Speaker 2: really lucky position that people DM my personal page. I
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Speaker 2: just feel really lucky that people trust me so instantly
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Speaker 2: with their stories or want to share a win with
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Speaker 2: me because they know I'm just is excited about it,
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Speaker 2: like it's just cool stuff and I just really really
4:25
Speaker 2: like it. But you know what else, I like our
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Speaker 2: Wednesday Deep Dive episode, Jess, what happened on this Wednesday's episode?
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Speaker 4: This Wednesday was a fun one. It was a little
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Speaker 4: bit different. You and g did a Q and A,
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Speaker 4: so we put a call out to the community asking
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Speaker 4: for questions and we got so many, So let us
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Speaker 4: know if you enjoyed that episode and maybe if we
4:44
Speaker 4: should do a part two. But we had a heap
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Speaker 4: of questions that you went through and just answering some
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Speaker 4: really fun different things. Obviously, we get so many great
4:54
Speaker 4: suggestions for episodes, and we try our best to make
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Speaker 4: sure that when there's something that's really commonly asked for
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Speaker 4: that we prioritize addressing that. And there's just so many
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Speaker 4: things in the finance world that we could and we'll
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Speaker 4: talk about. But it was really cool to be able
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Speaker 4: to go through and just like answer some more specific
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Speaker 4: questions that we saw people were really liking or asking
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Speaker 4: really frequently.
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Speaker 2: And if I'm being really selfish, Jess, I really liked
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Speaker 2: that episode. It was super fun because Georgia had collected
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Speaker 2: a number of questions from the community and it was
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Speaker 2: like just really quick fire, and I felt like we
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Speaker 2: could give a lot of value in a short amount
5:23
Speaker 2: of time instead of just tackling one topic in an episode.
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Speaker 2: It was like, all right, well, this is my advice
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Speaker 2: on this, and this is what I do here, and
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Speaker 2: this is what this means. And it was just it
5:32
Speaker 2: was one of those things where it's like getting into
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Speaker 2: a conversation with friends about money. It was just a
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Speaker 2: whole heap of fun. So yes, if you want more
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Speaker 2: of those, I'm absolutely keen for it. But moving on,
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Speaker 2: you guys might have noticed our best friend Ryan John
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Speaker 2: is working his little butt off today so hasn't been
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Speaker 2: able to join us to record our Friday Drinks episode.
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Speaker 2: So Tony, do you think you have feet big enough
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Speaker 2: to fill those shoes?
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Speaker 3: I'm taking the helm and it feels weird. I don't
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Speaker 3: know how I'm going to go, So please direct any
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Speaker 3: feedback to Victoria Divine. I know that all two hundred
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Speaker 3: thousand of you are very good friends of her. Feedback
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Speaker 3: past straight onto, but I'll do my best, do my
6:12
Speaker 3: dandas all.
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Speaker 2: Right, I believe what have you got to share with
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Speaker 2: us today?
6:15
Speaker 3: All right, Alicia says that I've finished my ten thousand
6:19
Speaker 3: dollars money challenge after only starting at the beginning of
6:22
Speaker 3: the year. She's crazy exciting. Yeah at the.
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Speaker 2: Beginning of the year. Ten grand it's not even twelve months.
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Speaker 3: Mate, Calm down, I know. And it's going to go
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Speaker 3: towards traveling or a new car if she can't travel
6:36
Speaker 3: when she finishes UNI next year, she's she's studying as well.
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Speaker 2: God, it's so scary that we're thinking that way. Or
6:46
Speaker 2: if I can travel at the end of next year.
6:49
Speaker 2: Oh remember when we used to book trips more than
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Speaker 2: a year in advance, go on to those days.
6:56
Speaker 3: Well, I actually need to renew my passport at the moment,
7:00
Speaker 3: and I'm like, what's the point in spending three hundred
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Speaker 3: dollars on this when I'm not going to do with.
7:05
Speaker 2: Them because there's so much more paperwork to do if
7:08
Speaker 2: you let it completelyire. That's why I'm going to be
7:12
Speaker 2: paying for mine. But yeah, mine is going to expire
7:14
Speaker 2: at the end of this year and I really need
7:16
Speaker 2: to redo it. But yeah, I just don't want it
7:19
Speaker 2: to expire because you have to get out your birth
7:21
Speaker 2: certificate and stuff, and that is that is an ADM nightmare.
7:24
Speaker 2: I'm not willing to engage with.
7:25
Speaker 4: We always get a lot of questions whenever we share
7:28
Speaker 4: on our stories photos of the saving tax. So we
7:30
Speaker 4: have four different saving tacks one thousand, two thousand, five hundred,
7:33
Speaker 4: five thousand, and ten thousand. They are available on our website.
7:36
Speaker 4: If you go to Shoes on the Money dot com
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Speaker 4: dot a you and click on freebies and there's those
7:40
Speaker 4: and a bunch of other cool resources you can check out.
7:42
Speaker 3: Nikki says money win. Her shares went up. Love that,
7:45
Speaker 3: which is very cool.
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Speaker 2: That is a money win as always, but we also
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Speaker 2: need to normalize them going up and down over their
7:52
Speaker 2: life cycle. But at the same time, share going up.
7:55
Speaker 2: Great money win. We can celebrate. We can celebrate each
7:58
Speaker 2: other kind of win. I am here for.
8:00
Speaker 3: Tessa says money win. This week was finding three hundred
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Speaker 3: ninety nine dollar pants that she's been obsessing over for
8:05
Speaker 3: weeks in an op sharp water in her size for
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Speaker 3: twelve dollars.
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Speaker 2: Oh, that is it. That is a very good money whin.
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Speaker 3: That never happened.
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Speaker 2: Four hundred dollar pants for twelve bucks. You weren't even
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Speaker 2: going to get it for that on sale?
8:20
Speaker 1: She manifested it.
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Speaker 2: Oh, yeah, she probably she did.
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Speaker 3: She was probably like dear Jess playing on side of
8:27
Speaker 3: her bed to.
8:28
Speaker 4: God a Facebook.
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Speaker 2: Yeah, so today we're praying to the god of Facebook.
8:34
Speaker 2: Jess would really like a crystal please mark sucker Bird.
8:38
Speaker 2: We flip this for a second. What kind of person
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Speaker 2: buys new season four hundred dollar pants? And then it's
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Speaker 2: just like, ah, I just sent them to the op shop,
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Speaker 2: Like who are you? Can I have your money diary
8:49
Speaker 2: because you're throwing money away.
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Speaker 3: I don't want your money diary. I just want your money.
8:53
Speaker 3: You obviously have enough of it.
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Speaker 2: I want to hear it. I want all the pervy details,
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Speaker 2: like how can you afford to put for her undred
9:00
Speaker 2: dollar pants in the opshop bin? Like what? Like? I
9:03
Speaker 2: know it's good and it goes to charity, but like
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Speaker 2: you really could have sold them on Facebook marketplace for
9:08
Speaker 2: half the price and donated it to charity together.
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Speaker 3: You donated that anyway?
9:12
Speaker 2: Yeah, exactly twelve dollars. They didn't know what they had.
9:15
Speaker 3: I know. Another one for Jess. Nicholas says, I've been
9:19
Speaker 3: looking at designer bags just boil myself around four thousand dollars,
9:22
Speaker 3: which was definitely out of my budget, but found a
9:25
Speaker 3: Vesachi Couture bag on deep Hop which retails for three
9:29
Speaker 3: forty and got it for one fifty. Why gosh, that's
9:33
Speaker 3: so pretty decent.
9:34
Speaker 2: And that is a really good compromise as well. I
9:37
Speaker 2: mean a four thousand dollars handbag. I'm not gonna argue
9:39
Speaker 2: with you if that is in line with your values
9:41
Speaker 2: and you go, no, v, that's exactly what I want. Nope,
9:44
Speaker 2: I want you to get that, and I want you
9:46
Speaker 2: to be really happy with it. But if you're like, oh,
9:48
Speaker 2: it's just because they want a really nice handbag, she
9:50
Speaker 2: went and found something that was within her budget and
9:52
Speaker 2: within her values, and I love that. I want to
9:55
Speaker 2: see a picture of the bag, though, oh, I'll ask
9:57
Speaker 2: want to see a picture of the bag.
10:00
Speaker 3: Says that she didn't realize that Dodo were charging her twice.
10:03
Speaker 3: They didn't cancel an account when she moved in January,
10:06
Speaker 3: and they said too bad, so sad. She argued with them.
10:09
Speaker 3: They offered half back. She said, no, I have a
10:12
Speaker 3: right to a full refund because the other Internet I
10:14
Speaker 3: couldn't even access it. I've only been accessing one Internet.
10:18
Speaker 3: And they finally gave in. They agreed to a full refund,
10:21
Speaker 3: so six hundred and seventy five dollars back in her
10:25
Speaker 3: pocket and seventy five dollars less per month going forward.
10:28
Speaker 4: But no, the audacity of that company to say, hey,
10:34
Speaker 4: where really sorry week of our mistake. Yeah, to say, hey,
10:38
Speaker 4: we're really sorry that we stuffed up. You're just going
10:42
Speaker 4: to have to deal with that that No, no, no,
10:45
Speaker 4: no no. I am so glad that she did the
10:46
Speaker 4: right thing. She got her Karen on. Sometimes it's okay
10:50
Speaker 4: because she absolutely deserved that money back. It would be
10:52
Speaker 4: unacceptable for them to try and do otherwise.
10:54
Speaker 2: Don't know, your service is not so nice. I want
10:56
Speaker 2: to pay twice hard.
10:58
Speaker 3: No, it's very funny.
11:01
Speaker 2: Funny, I'm funny, guys.
11:03
Speaker 3: Congratulations else, let's.
11:06
Speaker 2: Move on before anybody notices.
11:09
Speaker 3: All right, Piper says, I've been searching for ages for
11:12
Speaker 3: a cute white sneaker that won't cost an armor a leg,
11:15
Speaker 3: you know that, uh huh. Went into Target to buy
11:18
Speaker 3: a budget pair and actually found a feeler pair with
11:20
Speaker 3: a clear and sticker of twenty five dollars down from sixty.
11:24
Speaker 3: Flicked the tag over, it was further discounted to seventeen
11:27
Speaker 3: dollars so far money Win took them to the cash
11:30
Speaker 3: register and they were eleven dollars. So she actually ended
11:34
Speaker 3: up saving forty eight dollars and got a trainy pair
11:36
Speaker 3: of sneaks.
11:37
Speaker 2: Oh how cute. I love that. I love that she
11:40
Speaker 2: was trying to do the right thing and was rewarded
11:42
Speaker 2: for it.
11:43
Speaker 3: Uh huh, it's the manifestation, it is.
11:45
Speaker 4: And white sneaks go with everything they do, go with everything.
11:48
Speaker 3: They elevate every single look. I will fight anybody that
11:51
Speaker 3: disagrees with me.
11:52
Speaker 2: Follow along for Tony sashion Tip said she's on the
11:55
Speaker 2: money aus.
11:58
Speaker 3: And the very last one last, Adriana says, my loose
12:01
Speaker 3: leaf spinach wouldn't register on the scales at Woollies because
12:04
Speaker 3: it wasn't heavy enough, So the attendant said, just take it.
12:09
Speaker 2: I love when people do that. It's not even your
12:12
Speaker 2: money to make that decision on it.
12:13
Speaker 3: But there way, I can't deal with that.
12:15
Speaker 2: Just got Tony. You used to work in a deli?
12:19
Speaker 2: Did you ever do stuff like that? No?
12:21
Speaker 3: I was the annoying person that was like, I will
12:23
Speaker 3: weigh that before I give it to your child. You
12:25
Speaker 3: have to pay for it. You can't have it for free.
12:27
Speaker 2: Oh my gosh. So you wouldn't even give kids free
12:29
Speaker 2: twiggy sticks.
12:30
Speaker 3: No, nothing, I would weigh it and give them a
12:33
Speaker 3: sticker and make them pay for it. I'm sorry, I
12:37
Speaker 3: like big corporating.
12:41
Speaker 2: Sorry Wallies, Tony was an employee you really should have
12:44
Speaker 2: kept hold of.
12:46
Speaker 3: I was saving the money.
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Speaker 2: Yeah you were, You weren't. Would you do it again?
12:50
Speaker 3: One hundred percent?
12:52
Speaker 2: That's disappointing. All right, Tony and Jess we are back,
13:01
Speaker 2: and a couple of weeks ago we did an episode
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Speaker 2: on how to start saving and investing for kids and
13:06
Speaker 2: teaching them the way, and an article came out on
13:09
Speaker 2: news dot com dot Au. Not to blow my own trumpet,
13:12
Speaker 2: but I had an article come out on news dot
13:14
Speaker 2: com dot.
13:15
Speaker 3: Au this week. Hang on, was this just an excuse
13:19
Speaker 3: for you to bring up an article about yourself? You
13:20
Speaker 3: don't really have any information?
13:22
Speaker 2: No, no, no, I just wanted to talk about myself again.
13:24
Speaker 2: But it actually wasn't my article that I wanted to
13:27
Speaker 2: talk about. It was an article from somebody called Sarah Sharples,
13:30
Speaker 2: who if she wants to work for us and do
13:32
Speaker 2: some copywriting, please slide it into my DMS because I
13:35
Speaker 2: did enjoy this article. But it was about some research
13:39
Speaker 2: behind how many kids in Australia are actually investing already,
13:43
Speaker 2: and I was super surprised at the statistics and would
13:46
Speaker 2: love to know what you guys think, because I was
13:48
Speaker 2: shocked and thought it would be more. But I don't
13:50
Speaker 2: know what you guys think. So essentially, a survey was
13:53
Speaker 2: done to see how many kids are investing and it
13:56
Speaker 2: found that seven percent of children under the age of
13:59
Speaker 2: twelve shared trading account in their name, and that is
14:03
Speaker 2: the equivalent of about two hundred and seventy thousand Australian
14:07
Speaker 2: kids who were investing in the stock market.
14:09
Speaker 4: That's you said you thought.
14:11
Speaker 2: It would be more.
14:11
Speaker 4: That sounds like heaps.
14:13
Speaker 2: I thought it would be more, would be way less.
14:16
Speaker 4: Yeah, I'm with Tony, So.
14:17
Speaker 2: I thought it would be more in terms of numbers,
14:20
Speaker 2: maybe because I know nothing about how to calculate populations.
14:25
Speaker 2: Seven percent feels right, but two hundred and seventy thousand
14:28
Speaker 2: kids just it felt like there would be more kids.
14:31
Speaker 2: But when you tell me it's that's actually seven percent
14:33
Speaker 2: of kids under twelve, I'm like, oh, okay, Like that's
14:36
Speaker 2: that's pretty close to ten percent. We could round that up.
14:39
Speaker 2: Financial adviser would absolutely round up.
14:42
Speaker 3: So is that parents opening it for children and investing
14:45
Speaker 3: on their behalf or is that kids being like not
14:48
Speaker 3: having put this into the ass.
14:51
Speaker 2: That you do need a guardian to actually do that.
14:53
Speaker 2: It is kids who have an account in their name,
14:56
Speaker 2: not necessarily they're whacking out their iPhone and do some
15:00
Speaker 2: trades like're on the stocks. Yeah no, no, no, we're
15:03
Speaker 2: not making share trades at two. But it was also
15:06
Speaker 2: really interesting because obviously seven percent, I think is a
15:10
Speaker 2: lot of kids under the age of twelve investing. But
15:13
Speaker 2: the same survey found that two percent of kids under
15:16
Speaker 2: twelve had a cryptocurrency account in their name. Really, two
15:22
Speaker 2: percent of kids under twelve doing crypto. This is a
15:26
Speaker 2: slippery slope moment.
15:27
Speaker 3: Do you think it's because it's in vogue at the moment,
15:30
Speaker 3: So their mum or dad have been like, yeah, we
15:32
Speaker 3: saw it online, we bought some, will pop some in
15:34
Speaker 3: the kid's name as well, like.
15:36
Speaker 2: It must be I just didn't think. And I guess
15:38
Speaker 2: as a financial advisor who doesn't like crypto, and I'm
15:42
Speaker 2: happy to say that crypto to me is not something
15:45
Speaker 2: that is long term. So I am genuinely surprised to
15:48
Speaker 2: think that parents are like, oh, this is such a
15:49
Speaker 2: good long term investment, Whereas you know, a diversified ETF
15:55
Speaker 2: exposing you to the top two hundred companies in Australia
15:58
Speaker 2: to me, would be a little bit more akin to
16:01
Speaker 2: longevity I suppose over the long term, especially if you're investing.
16:05
Speaker 2: But I think that two percent of kids investing in crypto,
16:09
Speaker 2: like it's along the right track. But it makes me
16:12
Speaker 2: wonder how many parents are opening this and what type
16:15
Speaker 2: of parents are opening this, and it makes me dive
16:17
Speaker 2: into the idea around you know how I always talk
16:19
Speaker 2: about risk profile and like what that actually means, because
16:24
Speaker 2: recently I've been having a lot of chats about crypto
16:26
Speaker 2: and who owns it and what's going on with a
16:29
Speaker 2: number of our community members because I'm trying to just
16:31
Speaker 2: like learn a bit more about what you guys really
16:33
Speaker 2: want me to talk about and how to educate in
16:36
Speaker 2: a I guess, more relatable way. And I was super
16:40
Speaker 2: surprised to find that there are a number of people
16:42
Speaker 2: in our community who were happy to buy crypto or
16:45
Speaker 2: some kind of cryptocurrency, but we're not happy to invest
16:50
Speaker 2: on the Australian share market sure, And I'm always taken
16:54
Speaker 2: aback by that because as an ADVISORL like my base
16:57
Speaker 2: is risk and whether you're willing to take on risk,
17:00
Speaker 2: and for me, risk is mitigated with time. There's a
17:04
Speaker 2: really great chart by Vanguard that shows you the performance
17:07
Speaker 2: of all asset classes in Australia over time and how
17:10
Speaker 2: they've performed. And if you look at that chart, it
17:13
Speaker 2: actually shows you that over thirty year periods or even
17:17
Speaker 2: over ten year periods, it's the same. Nobody's ever lost
17:20
Speaker 2: money if they stay invested for the long term. So
17:24
Speaker 2: for me, that's a pretty like that's pretty solid evidence.
17:27
Speaker 2: That's pretty solid past performance. And as a financial advisor,
17:31
Speaker 2: I should say past performance is not a reliable predict
17:33
Speaker 2: or a future performance Tony, but it's something where I'm like, well,
17:37
Speaker 2: that's tried and true. Like, you know, if you're investing
17:40
Speaker 2: for thirty plus years, which I'm assuming you would be
17:42
Speaker 2: doing and would have that intention when you're investing for kids,
17:45
Speaker 2: crypto hasn't even existed for that long, and we've never
17:48
Speaker 2: been able to say there's a certain period of time
17:50
Speaker 2: that you can invest in crypto and not lose money.
17:52
Speaker 2: So for me, I'm like, wow, like why are you
17:55
Speaker 2: thinking this way? Like where is this come from? So
17:57
Speaker 2: I guess I've got some more research to do. Around money, mindset,
18:01
Speaker 2: and emotional investing because so many people were willing to
18:04
Speaker 2: invest in crypto but not the stock market. But the
18:07
Speaker 2: stock market over time has been proven but crypto hasn't.
18:11
Speaker 2: So I feel a little bit like this plays into
18:13
Speaker 2: herd mentality, which I actually talk a lot about with
18:16
Speaker 2: my clients, is that crypto has been talked about in
18:20
Speaker 2: abundance right all over the media. Our friends are talking
18:23
Speaker 2: about it. I have no doubt you guys have friends
18:25
Speaker 2: who have been like, oh I bought bitcoin or I
18:27
Speaker 2: bought dogecoin, like they've done something with crypto. So you
18:30
Speaker 2: kind of get interested and you lose that idea of
18:34
Speaker 2: what risk actually means because the concept has been so
18:37
Speaker 2: normalized that you're like, oh, it's fine, my friends are
18:39
Speaker 2: doing it, no problems.
18:41
Speaker 3: I think as well, everybody is interested in a get
18:44
Speaker 3: rich quick scheme and we.
18:46
Speaker 2: Should start MLM.
18:48
Speaker 3: Honestly, you only ever hear the winners, right, Yeah, And
18:51
Speaker 3: so you heard everybody saying, oh, I bought bitcoin or
18:55
Speaker 3: I had some and then I sold it for fifty
18:57
Speaker 3: thousand dollars, and everyone's like, oh, well, I'm gonna buy
18:59
Speaker 3: it now because I want fifty thousand dollars and then
19:01
Speaker 3: all like that's what takes off. And we were just
19:04
Speaker 3: talking before we started recording about the impact that like
19:07
Speaker 3: the media can have over what stocks do, and especially
19:11
Speaker 3: bitcoin and other cryptocurrencies because they're so in vogue and
19:15
Speaker 3: it's been in vogue for you know, the past five
19:17
Speaker 3: or six years. That's what people are interested.
19:20
Speaker 2: Just find it so pervy, I suppose why they are
19:24
Speaker 2: trusting the purchase of that asset but won't go and
19:27
Speaker 2: invest in the share market or you know, download our friends'
19:30
Speaker 2: shares is and start picking things that they feel passionate about.
19:33
Speaker 2: They're like, that's too much. But crypto was easy, even
19:36
Speaker 2: though it's a bigger hurdle in something for me as
19:38
Speaker 2: an advisor that is far harder to swallow. And Yeah,
19:42
Speaker 2: what you're talking about, Tony is the conversation we're having
19:44
Speaker 2: before this episode. And I was telling you guys about
19:47
Speaker 2: how there's actually been a crypto plunge in the last
19:51
Speaker 2: week or so because Bitcoin and ethereum, that both of
19:55
Speaker 2: their prices have absolutely gone through the floor because Beijing
19:59
Speaker 2: a shoot US statement that essentially said that it will
20:02
Speaker 2: be the end of cryptocurrencies in China because they don't
20:04
Speaker 2: want them in China and you go, oh, like that decision. Obviously,
20:10
Speaker 2: bitcoin is international, and China is one country, obviously an
20:13
Speaker 2: incredibly impactful one when it comes to the economy, but
20:16
Speaker 2: you look at it and you go, oh, them making
20:19
Speaker 2: that decision has plunged it through the floor. Whereas if
20:23
Speaker 2: the same thing had happened in Australia and a decision
20:26
Speaker 2: was made about a stock, the same type of response
20:28
Speaker 2: wouldn't have happened. So it just it's just real pervy
20:32
Speaker 2: and really interesting and I like talking about this stuff,
20:35
Speaker 2: so thank you for coming to my TED talk.
20:37
Speaker 3: Yeah, I think it'll be interesting to see the impacts
20:39
Speaker 3: of it over a longer period as well. Just another
20:42
Speaker 3: really interesting point, the environmental impacts of cryptocurrency over the
20:47
Speaker 3: long term as well, like the amount of energy needed
20:50
Speaker 3: to mind tomord. Actually, yeah, is really interesting and we
20:54
Speaker 3: won't go into it because we.
20:55
Speaker 2: Can do a whole episode Tony on bitcoin or on
20:59
Speaker 2: crypto and actually seeks not necessarily how you buy it,
21:03
Speaker 2: but like bitcoin and cryptocurrencies are mined and people set
21:08
Speaker 2: up these elaborate computer systems to mind these and if
21:12
Speaker 2: you are interested in environment and ethical investing, there's a
21:16
Speaker 2: lot of conversation to have there.
21:18
Speaker 3: It's very unethical in terms of the environmental impacts.
21:21
Speaker 4: Speaking of like fun marketing update type things is did
21:25
Speaker 4: anybody see that on Thursday Oliplex went onto the market.
21:29
Speaker 2: Yes, they had their very first IPO, which, as a
21:34
Speaker 2: very keen hair eccentric person, very happy with it. I
21:38
Speaker 2: love my Oliplex and I love that I now own
21:41
Speaker 2: shares in it.
21:42
Speaker 4: I was so excited when it went up because I
21:45
Speaker 4: also am like a user of it and I love it,
21:47
Speaker 4: and I feel like that's always a fun thing, you know,
21:49
Speaker 4: to sometimes purchase shares in a product that you actually
21:51
Speaker 4: really enjoy. But there's also a really interesting like background
21:54
Speaker 4: on it because Oliplex as a company has actually seen
21:58
Speaker 4: like a lot of really great successes over the past
22:01
Speaker 4: few years. And I will start this off by saying
22:03
Speaker 4: this is not advice. I am not saying about by oliplex.
22:05
Speaker 4: We don't do that here.
22:07
Speaker 2: But it was like we did by Oliplex here though,
22:09
Speaker 2: But we are talking about the performance of a company
22:13
Speaker 2: because it's really important. And do you know what, I'm
22:15
Speaker 2: so excited, like I cannot like to preface this conversation.
22:18
Speaker 2: I cannot believe Jess that you joined us last December,
22:22
Speaker 2: had no idea how to invest, and now you're telling
22:24
Speaker 2: me about the performance of a company because you have
22:26
Speaker 2: selected one of their IPO assets to purchase, Like, what,
22:30
Speaker 2: who are you? Look at that growth?
22:33
Speaker 4: We love some character developments. So they actually had ninety
22:40
Speaker 4: percent net sales growth from twenty nineteen to twenty twenty,
22:43
Speaker 4: which is ninety percent is astronomical to me.
22:47
Speaker 3: At least soft hair.
22:48
Speaker 4: That is some luscious hair. But in addition to that,
22:52
Speaker 4: there's also some really great things, like I know that
22:53
Speaker 4: they're the number one haircare brand. It's Sophora.
22:56
Speaker 2: They are. They also have a twenty twenty adjusted gross
23:00
Speaker 2: margin of eighty two percent, which is massive, which I
23:04
Speaker 2: think it's really important to look at stuff like that.
23:06
Speaker 2: And I know that I guess we're being a little
23:08
Speaker 2: bit more technical on shares, and over the next couple
23:10
Speaker 2: of months, hopefully I can get a little bit more
23:11
Speaker 2: technical on shares and what that actually means. Because oliplex
23:15
Speaker 2: is cool because I use it, but also it's cool
23:19
Speaker 2: because like looking into a company and understanding why you're
23:23
Speaker 2: purchasing it is even cooler, like and I know a
23:26
Speaker 2: couple of years ago, maybe Jess, you would be like, oh,
23:28
Speaker 2: it'd be cool to own shares in a haircare company
23:31
Speaker 2: that I use, Whereas now you're like, okay, cool. So
23:34
Speaker 2: I looked at that and your report and this is
23:36
Speaker 2: what I've learned, and that's literally what you're spitting back
23:39
Speaker 2: at us, and that's just real cool.
23:41
Speaker 4: It's really fun and even just on like a less
23:44
Speaker 4: technical I suppose measurement, not that you shouldn't be using
23:47
Speaker 4: technical measurements, but if you go through their Instagram and
23:49
Speaker 4: go to their tagged photos, they're tagged in a photo
23:52
Speaker 4: literally like once an hour at a minimum, often like
23:55
Speaker 4: several times more than that, Like so crazy, and I
23:58
Speaker 4: just a fun, little cool thing I thought was really
24:00
Speaker 4: interesting because it's something that I was like, oh, like
24:02
Speaker 4: that's something that I want to purchase shares in, and yeah,
24:05
Speaker 4: we'd love to see it.
24:07
Speaker 2: I'm really excited that you now know what you're talking
24:09
Speaker 2: about and what you're looking for, and that it's not
24:12
Speaker 2: just personal interest. It's like, Okay, I've got a personal interest,
24:15
Speaker 2: but I know what i'm looking for. Or I'm really
24:17
Speaker 2: impressed with their numbers and this is why I'm making
24:20
Speaker 2: that decision, and that's what I want to see from
24:22
Speaker 2: our community because I see you know, back to what
24:24
Speaker 2: we're talking about before with crypto, a lot of people
24:27
Speaker 2: will tell you that they bought crypto because they're friended
24:30
Speaker 2: or someone told them it was really good, whereas you
24:33
Speaker 2: actually need to do your own research on whatever it is.
24:36
Speaker 2: And it might not just be Oliplex, it could be
24:38
Speaker 2: any business. But I want you to know why you're
24:40
Speaker 2: buying a certain asset class, whether it is BHP, whether
24:45
Speaker 2: it is Woolies or Cohal's, Like, why are you choosing
24:48
Speaker 2: these assets in particular, not just oh I heard they
24:52
Speaker 2: were good to.
24:53
Speaker 3: Buy so or I know the name exactly.
24:56
Speaker 2: And the reason for that, obviously is because of performance
24:59
Speaker 2: and obviously because we want to be comfortable with what
25:01
Speaker 2: we're purchasing. But furthering that, there are going to be
25:05
Speaker 2: times where Olaplex's share price decreases and you'll look at
25:09
Speaker 2: your portfolio Jess, and you'll be a little bit behind
25:11
Speaker 2: from where you started. You go, oh damn, But deep
25:15
Speaker 2: down you know why you still hold them because you've
25:18
Speaker 2: already valued that company to yourself. You're already like yep,
25:21
Speaker 2: that you're not. Their share price might be down, but
25:23
Speaker 2: their turnover is good, their business is good. They are
25:26
Speaker 2: the number one in their category. They are this, they
25:28
Speaker 2: are that, they are the other, and to you, you're go, yeah,
25:31
Speaker 2: I say that the share price is down, but I'm
25:32
Speaker 2: not worried about that because I have a basis for
25:35
Speaker 2: investment as opposed to oh I bought it because my
25:38
Speaker 2: friend did. Now it's off, and oh I don't like.
25:41
Speaker 3: That, so and I might as well sell it exactly.
25:44
Speaker 2: So we're making educated decisions based on our interests, but
25:48
Speaker 2: also really validating those in addition. And I think that
25:51
Speaker 2: that's a really good example of that, and I'm grateful
25:53
Speaker 2: you brought it up, Jessica.
25:54
Speaker 4: We love an educated queen.
25:56
Speaker 2: We do. Did you just call yourself an educated queen? Tony?
26:00
Speaker 3: Stand by it?
26:02
Speaker 2: I definitely do too.
26:04
Speaker 3: Also, Guys, I know that we're running out of time,
26:06
Speaker 3: but I did really want to mention something else that's
26:08
Speaker 3: gone off in our group this week and off.
26:12
Speaker 2: In my emails. Tony, I have been contacted a number
26:16
Speaker 2: of times over what you're about to say.
26:19
Speaker 3: So Spaceship, which for anybody that doesn't know, is a
26:22
Speaker 3: micro investing platform in Australia, have just introduced monthly fees,
26:27
Speaker 3: so it went from being free and now on portfolios
26:31
Speaker 3: with balances over one hundred dollars, it's two dollars fifty
26:34
Speaker 3: a month or thirty dollars a year.
26:37
Speaker 2: Yeah, from the start of November, so from the first
26:40
Speaker 2: of November twenty twenty one, they're introducing fees, which is
26:43
Speaker 2: totally fine. And you know what I think I said,
26:46
Speaker 2: and I don't I'm not willing to go through the content.
26:49
Speaker 2: I think I said on a podcast once that I
26:52
Speaker 2: guarantee that Spaceship's free investing won't last because when you're
26:58
Speaker 2: a brand, you're investing platform, the point is getting you
27:01
Speaker 2: guys on the platform, and you've got to have a
27:02
Speaker 2: really good carrot on a really good stick for people
27:05
Speaker 2: to jump on board, especially when it comes to investing.
27:08
Speaker 2: That now they're introducing a fee that I think is
27:12
Speaker 2: you know, it's a nominal fee. It's going to make
27:14
Speaker 2: it's going to mean that they can turn a profit
27:16
Speaker 2: and then they can actually keep investing in the business.
27:19
Speaker 2: And I think it's really good, but it is something
27:22
Speaker 2: that you need to consider because if you only have
27:24
Speaker 2: one hundred dollars on the platform, two dollars fifty, that's
27:28
Speaker 2: so much money to be paying your investment fees. So
27:32
Speaker 2: you really need to think hard about whether that is
27:34
Speaker 2: worth it or not. And I've said before as well,
27:37
Speaker 2: I adore micro investing platforms because they go beyond just investing. Right, So, Tony,
27:42
Speaker 2: even if you only had a couple of one hundred
27:43
Speaker 2: dollars on Spaceship, I still think that fee is potentially
27:47
Speaker 2: worth it because you are investing, you're able to actually
27:50
Speaker 2: follow the markets, and you're getting financial education through that
27:53
Speaker 2: platform as well. You're getting exposure to the market without
27:56
Speaker 2: putting up your life savings. Right, So I think we
27:59
Speaker 2: need to quantify what this fee means in addition, not
28:02
Speaker 2: go oh my gosh, I can't believe they're introducing it,
28:04
Speaker 2: but more like, oh great, Like how cool is it
28:07
Speaker 2: that these businesses at a point where it can start
28:09
Speaker 2: turning a profit from their customers and they can actually start,
28:12
Speaker 2: you know, providing that value. And I am an investor
28:15
Speaker 2: on Spaceship, as I am on Rays and as I
28:17
Speaker 2: am on Charesi's and also Superhero like I have them
28:21
Speaker 2: all because I want to make sure that I'm using
28:22
Speaker 2: all the platforms that everyone in our community is talking about,
28:25
Speaker 2: because how silly would that be if I wasn't. But
28:27
Speaker 2: it's one of those things where I'm like, oh, cool,
28:30
Speaker 2: Like they are charging a fee, but that's worth it.
28:33
Speaker 2: So for me, Yeah, it's interesting because a lot of
28:35
Speaker 2: people are blowing up about, you know, being a bit
28:38
Speaker 2: frustrated that there's now fees on their free investing platform.
28:42
Speaker 2: But like, we got a pretty good run of free
28:44
Speaker 2: investing for a while from these guys, Like and two
28:47
Speaker 2: dollars fifty to invest at the end of the day,
28:50
Speaker 2: that's pretty good. It's also tax deductible, my friends.
28:53
Speaker 3: Oh okay, they put that in the fine print, don't they.
28:56
Speaker 2: I don't even know if I mentioned it. But at
28:58
Speaker 2: the end of the day, it's a cost of investing
29:00
Speaker 2: and therefore it's a taxable deduction. So definitely mentioned that
29:05
Speaker 2: one to your accountant guys come June thirty next year.
29:07
Speaker 4: And the thing is, like, the really cool thing about
29:10
Speaker 4: living right now is that there are so many great
29:12
Speaker 4: platforms out there. And if that two dollars fifty is
29:14
Speaker 4: something that's really taxing, if you have a lower amount,
29:17
Speaker 4: or if it's just money that you don't want to spend,
29:19
Speaker 4: have a look at other platforms. Do you research Different
29:21
Speaker 4: platforms have different fees and different offerings and That's why
29:24
Speaker 4: we talk about so many different ones here on the
29:26
Speaker 4: show is because you know there's no one size fits all.
29:29
Speaker 4: So if that fee is something chasing, you don't be
29:32
Speaker 4: afraid to have a look and maybe go elsewhere if
29:34
Speaker 4: that's what suits your needs.
29:35
Speaker 2: Absolutely and just actually de bounce off that. We've been
29:38
Speaker 2: asked in the community before, like oh, why are you
29:40
Speaker 2: talking about Spaceship and shares and six Park And that's
29:44
Speaker 2: the reason because they are all good investment platforms that
29:48
Speaker 2: we have vetted. I like, we're vetted as a team,
29:50
Speaker 2: I've vetted as a financial advisor, and I go, okay, cool,
29:52
Speaker 2: someone picks that it's not a bad option. It is
29:55
Speaker 2: a really good option. And obviously they're all friends of
29:58
Speaker 2: the show, but they all bring different things to them table.
30:00
Speaker 2: They all have access to different things. And that's what
30:03
Speaker 2: we say when we say do your research. It's not
30:05
Speaker 2: just go with someone who's sponsoring the show. It's go
30:09
Speaker 2: and look at what they've got on offer. And I
30:11
Speaker 2: mean the benefit of knowing it's come from the Shees
30:13
Speaker 2: on the Money community is that we're vetted at and
30:15
Speaker 2: we would personally be comfortable investing in that if that
30:18
Speaker 2: was something that we wanted to do, but I think
30:21
Speaker 2: it's really important to actually just step back and go, yeah, okay,
30:24
Speaker 2: like what do I want out of this? And maybe
30:26
Speaker 2: before even looking at platforms, go what am I trying
30:29
Speaker 2: to achieve? This is this long term? Do I want
30:31
Speaker 2: some advice associated with it? In which case you're probably
30:34
Speaker 2: going to go down a six park route. Whereas if
30:36
Speaker 2: you don't want advice and you just want to do
30:38
Speaker 2: DIY stuff like maybe a sharesis or a superhero is
30:42
Speaker 2: something that you're going to look at because you can
30:43
Speaker 2: buy individual shares, or if you just want like an
30:46
Speaker 2: ETA for like a fund that you put money into,
30:50
Speaker 2: maybe a raiser a spaceship is more akin to what
30:52
Speaker 2: you're after. So there is different things for different people.
30:55
Speaker 2: But again there's just not one size fits all. Unfortunately,
30:59
Speaker 2: be cool if they're well.
31:00
Speaker 4: People are so different though, like it's never gonna happen,
31:02
Speaker 4: It's not possible, So.
31:03
Speaker 2: I just mitigate that risk by having them all jess,
31:06
Speaker 2: So yeah.
31:07
Speaker 4: I win.
31:09
Speaker 2: Anyway with that. E As always, I think that is
31:11
Speaker 2: all we have time for, guys. So just before we
31:14
Speaker 2: head off, we'd like to acknowledge and pay respect to
31:17
Speaker 2: Australia's Aboriginal and torrest Rate islander peoples. They're the traditional
31:21
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31:25
Speaker 2: across Australia. We thank you for sharing and for caring
31:28
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31:31
Speaker 2: We pay our respects to elders past and present, and
31:33
Speaker 2: we share our friendship and our kindness.
31:36
Speaker 3: The advice shared on shees on the Money is generally
31:39
Speaker 3: nature and does not consider your individual circumstances. She's on
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Speaker 3: the Money exists purely for educational purposes and should not
31:45
Speaker 3: be relied upon to make an investment or any financial decision.
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Speaker 3: of Australia Pacific Funds Management Proprietarily Limited ABM three four
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Speaker 3: three three nine month five.
32:01
Speaker 2: See you next week, guys. Bye mm hmm