Latest / The Curve / TCW49: There’s a new IPO on the scene, Apple’s turned sour and we’re refreshing our finances for 2024.

Transcript

TCW49: There’s a new IPO on the scene, Apple’s turned sour and we’re refreshing our finances for 2024. · The Curve

• 0:00
  Hi and welcome to the Curve Weekly. The podcast that keeps you up to date with all the
• 0:06
  money, business and stock market tea.
• 0:08
  And they're exactly what I needed to do, but it would take money to get there. Show me
• 0:12
  the money!
• 0:14
  For the record, feminism by definition is the belief that men and women should have equal
• 0:19
  rights and opportunities.
• 0:21
  Everyone should experience for us at least once in their lives in Annie. It shouldn't
• 0:24
  miss out just because she can't afford it. Help me, I'm poor.
• 0:28
  Hey, Soph. Hey, can you hear?
• 0:30
  Hi, happy new year. Have you had a haircut?
• 0:32
  No, I've just tied it up because it's a bit greasy.
• 0:36
  Oh, cute. I love that we're both looking at Sunday best, but let's record it.
• 0:40
  So when you're on holiday and you're just like, should I wash my hair in the morning,
• 0:43
  but then I might go for a swim and then, you know, if I know,
• 0:45
  this holiday decisions are so tough.
• 0:47
  Oh, it's really hard, isn't it?
• 0:49
  Do I shower now, but then I might get salty again to it.
• 0:53
  That's been my decision-making of last week.
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  It should be amazing.
• 0:58
  I had to stay with my mum and my sister in this like tree hut in Mungify Heads,
• 1:03
  and it sounds really cute and it was really cute, but by the third night we were all like,
• 1:08
  we have got to leave. Like, we were all riddled with mosquito bites and I was sleeping in this one
• 1:14
  cabin. It was like at almost a tiny house scenario, and just I don't know how, but as soon
• 1:19
  as the lights went off, my sister and I turned into the mosquito hunters, it was just like,
• 1:24
  like every two seconds and we were like, and there's nothing worse than that sound when you're
• 1:29
  like just nodding off to sleep.
• 1:33
  Last night, I just had to take so much melatonin that I completely knocked myself out
• 1:38
  and didn't wake up to the noise. I just woke up covered in bites, so it obviously just,
• 1:44
  like it was almost like a sleeping pill because like I'd rather just be bitten and not know about it
• 1:48
  at this point, you know. Oh gosh, some holiday is so nice. Oh God, you know the irony, I'm about to
• 1:56
  go to a silent retreat, so like right after this podcast record and going to sit in silence for
• 2:02
  a whole week, and I was thinking driving back from this holiday, I was like, it is so ironic,
• 2:07
  I have to drive back to record a podcast to then go and be in silence for a week. I was like,
• 2:12
  this is just so weird, but much needed. I can't wait to shut up.
• 2:16
  To put this in context, I've did this last year, and I think it was two years ago, babe,
• 2:20
  because I've been like raising almost maybe three. Yeah, it was 2021. Oh gosh, well anyway,
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  it always throws me into a bit of a state of panic, which I know it's only a week, which
• 2:32
  you're almost really like cute, but I don't know, I'm just always like, but I literally cannot
• 2:37
  call you. You're like, no, no, it's my point. This is the fact that this happened three years ago
• 2:42
  is the last time it happened, and I said to myself, before we started the curve, I'm going to do
• 2:46
  this every year. This is going to be my yearly reset, just like shut up for a whole week,
• 2:51
  reset my very busy brain to try and calm down a little bit, but because of the curve, it's really
• 2:56
  hard to just be like, actually, we're going to take a full week, fully offline. You know,
• 3:01
  like it just doesn't really happen, but I was like, no, Vic, we're doing it, and now it's come
• 3:05
  around. I'm like, it's always so stressful. You're really up. You're like, why am I doing this?
• 3:10
  Gosh. I actually sat down with Flower Man yesterday and did some, you know, financial
• 3:16
  resetting for 2024. We did not. We've been meeting Stuart for ages, and it was a shit day, and we're
• 3:21
  like, you know what? Let's change your kiwi saver. You're kidding out your, your investments.
• 3:27
  I'm right, you're right. Come on, Molly. Excuse me. Can you do that with me? I feel like I need
• 3:31
  some one-on-one tutoring, and I got so excited. He's like, you're such a weirdo. I was like, I
• 3:35
  know, I think this really, really excites me. What did you sit up? Well, he was like, I've got
• 3:39
  money in a terms of posse, I've got money in the bank, and I was like, what do you mean you've
• 3:42
  money in the bank? And then I said, Vic, be nice. You know, a lot of people think that that,
• 3:47
  were, you know, I said, I was nice. I said, you were like, I was really nice. And then anyway,
• 3:51
  I was actually quite glad he's got money in a terms of posse. So it's actually doing something,
• 3:55
  which was great. And then Bliss has heart. He logged into his bank, and he had bucketed his money.
• 4:04
  And you know, so we always educate about, you know, if you're saving for a holiday, make do a little
• 4:08
  holiday account, do a retirement account. You know, make it, make it visual so that you have a goal
• 4:13
  and all of that. And so when he opened his bank account, and I saw his buckets, I-
• 4:20
  What was buckets, can you please tell me? I started crying. He had, like, did he have a Victoria
• 4:28
  bucket? No, he had a, like, a kids, like a family bucket. Oh, my God. That is
• 4:38
  And I was laughing, crying. He was like, what is wrong with you?
• 4:42
  That's the cutest thing I had ever done. And I was just like, oh my gosh, you, you always
• 4:47
  cease to amaze me. I'm just like, can we all marry to flower man? I like the fact you have a bucket
• 4:51
  for your future children is just, yeah, look, I did dip into it the other day. So, you know,
• 4:57
  a little Johnny might not be going to school, but that's right. It's like if I'm making a joke,
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  because if, like, just trying to deflect from the fact that he's being the cutest human in the
• 5:04
  whole world. And I was thinking, I was like, oh, please, please, I was like, well, wait, can I ask,
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  how much was in there? Was it above 10 grand? Yeah. Oh, no, I was, I was, I was, I was,
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  I was like, wow, oh my God, I'm sorry. You don't need any more reassurance. Do you know what I mean?
• 5:22
  Yeah. You know, when you're in a relationship, you're like, how serious is this person,
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  what kind of things they want? Like, all you need to actually do, ladies and gentlemen,
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  is log into your behinders bank account. It also made me kind of feel a bit stiff, because I was
• 5:33
  like, here I am saving for my retirement. I was like, what about my family that I hope to have
• 5:38
  before I retire, major things? I wish being like, I want a great retirement. I was like,
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  oh gosh, I've got a few milestones before that that I might need some money for, but yeah,
• 5:46
  anyway, I was just like, oh, bless his heart. That is the cutest thing. Yeah. And it makes me feel,
• 5:53
  I got, all right, I'm just like imagining you opening up the bank account and just losing your
• 5:59
  shirt. I know. Why did he even need your help? That's my question. It sounds like he's got it all
• 6:04
  sorted. Well, it's in the bank. So I was like, okay, let's grow this, you know, and I did some
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  scenarios. I was like, okay, his kiwi saver was with this provider earning this much. If you
• 6:13
  transfer to, so this one you'd earn this much at a time and, and yes, you're in a term deposit,
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  which is great. It's kind of one of the better times to have your money in a term deposit,
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  because interest rates are so high at the moment. But I was like, I was more like, you can just make
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  your money work better for you. And this is how, and he was like, amazing, let's do it. He's like,
• 6:34
  is this you flirting with me being like, this is what you retirement? Oh, Jesus. So hold on,
• 6:41
  so, so did you need to do any personal finance with him? Was it more an investing thing? Like,
• 6:45
  what? Yeah, it was a little bit of everything. And I think 2024, sitting down, being like, he
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  knows that this has always been on the cards to sort of finance his out. And I was like, okay,
• 6:55
  let's do it. You know, we've got some downtime. It'll literally probably talk about half an hour
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  max. We made it fun. I tried to. I don't want to know what you did to make it. No, no. No, I just
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  tried to make it enjoyable, educational. And I could see sometimes that he was getting a bit like,
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  and so did you like strip personal finances? Yeah, that would wave you know,
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  fun. Lucky, huh? So he got the money reset, like basically in real life. Yeah. And so I'd
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  know if anyone who is like, oh, God, I'd love to sit down with Vic and have my finances sorted
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  for 2024, the money reset is starting. What date is it? The first of February. Yeah, I should
• 7:40
  remember that really. It's not that untrue. I'm in a holiday mode. So for more details,
• 7:45
  we'll put those in the show notes. It's basically like essentially what you did with the Flam
• 7:49
  Man, isn't it? Yeah, just getting your finances sorted for the start of the year. And I know a lot
• 7:55
  of people, well, a lot of people have even come up to me, but I know a lot of people in general
• 7:59
  sorting out your finances is something that you want to do at the start of the year. You know,
• 8:04
  set yourself up on a good footing. 34. So yeah, this is this is a great, great course to do.
• 8:09
  And what is it? It's basically budgeting, getting like your goals in place,
• 8:13
  figuring out what you're basically getting people into a place that they know how much they
• 8:17
  can invest regularly, right? Like that sort of the general premise of it. And getting yourself out
• 8:21
  of debt as well. If you're like, oh, God, I can't even think about investing in mountains of debt.
• 8:26
  There's, we've got steps in place to get that sorted. So then you can get to a level where you
• 8:29
  can start investing and all of that. So no matter what your situation is, if you're earning a lot,
• 8:35
  if you're earning a little, if you're in debt, if you've got heaps of money, whatever,
• 8:39
  you can always get a little bit of help with your finances and get a bit of position going forward.
• 8:43
  So yeah, love that. I also think he needs to transfer us for that. You know, he basically got a
• 8:48
  course. Yeah. Yeah. I will be giving him the curve account number, definitely.
• 8:53
  Imagine just say, oh, yes, just put your buddy invest in it. I thought you were about to say
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  something, sort of something grows like, you know, and he's paying me back in other ways.
• 9:03
  You're mine. It's been a while. It's been a while. And I'm about to go on to a silent retreat.
• 9:10
  We are in the loud to masturbate. So, pray for me. Lovely.
• 9:15
  My mum just hit that. Sorry, mum. Isn't that pretty much all you can do in a silent retreat?
• 9:19
  No, babe. You think you're clearing your mind. Okay. On to the finance too. What is happening?
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  And the world update me. So when Sof gave me pretty much about an hour's notice to do the
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  curve weekly. And you know, I am a finance gal, but I have been reading books and trying to chill out.
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  And so I haven't really been keeping up that up to date with the finance news. So there was a bit of a
• 9:44
  shit, shit, shit, shit, shit. What's been going on? It's totally my bad. Anyway,
• 9:49
  I was like, so you would have responded so much worse if this had been two years ago. You
• 9:52
  would have felt like, fuck off. So we can't do the good work. And the fact that you actually
• 9:56
  managed to like, just get it done. I was like, God, this is we're taking leaps and
• 10:00
  mounds for now working relationship. Yeah. But I am sorry. That was really,
• 10:04
  no, no, quite bad organization. It's fine. We'll take this offline later.
• 10:20
  I was literally driving back. Look, I'm going to get a wall of things.
• 10:23
  No. Okay. So it's been a bit of a bad start for Apple. You can say it's been a bit of a
• 10:30
  sour apple start. No, I tried to think of a pun. So Apple has its market cap. So remember that's
• 10:38
  it's a number of its shares times by its sheer price, which gives it overall value of the company.
• 10:43
  So it's lost it nearly 160 billion this year so far. And to think we're only at least
• 10:50
  in a weekend. Yeah. And this is all around people getting really, really concerned with
• 10:56
  the weak economic environment in China and what that means in terms of iPhone sales. So I guess
• 11:02
  this is kind of a really good point of a company like Apple, which sells so many iPhones.
• 11:08
  Like if you think like pretty much everyone has an iPhone, if you've got a Samsung, you're a bit
• 11:12
  weird. And so with that, who your mum? Yeah. Oh, sorry, Sarah. She also loves and dies by it.
• 11:19
  She was taking photos all holiday and she was like, oh, I can't watch better my phone.
• 11:23
  And then she sent them and they were blurry. I feel like Samsung people do. I feel like they do.
• 11:28
  You know, like they have to emphasize how cool it is because it's not cool. It's a bit of a random
• 11:32
  thing to buy something that nobody else has. Don't you reckon? Like the fact that 99% of people
• 11:37
  have an Apple. And then anyway, sorry. But anyway, yes, exactly 99% of people have an Apple iPhone.
• 11:43
  So it's like, okay, you either need a whole lot of people to refresh their iPhones and get new ones
• 11:48
  because there's not a new market of sales effectively. But then can't you say that about places
• 11:55
  like, you know, how you often say, you know, we think that the whole world has cards and digital
• 12:00
  payments, but actually like 80% of the world still uses cash. Is that not a similar thing that could
• 12:05
  be applied to this? Or is it just the fact that those kinds of countries will never spend that much
• 12:09
  money on a phone so it doesn't really count? Yeah, no, it's true. Yeah, no, that's a good point.
• 12:14
  I think it's more the argument I was saying is that some people like to invest in kind of the
• 12:20
  new up and coming say, iPhone maker, whatever that is. I mean, iPhones are kind of bad example because
• 12:26
  they're so sticky, like everyone loves their iPhone. But, you know, a new and exciting and growing
• 12:32
  company rather than a company that's got a really dominant presence because for that company to grow,
• 12:37
  it's a bit harder, whereas a new company can keep doubling and doubling and tripling and taking
• 12:42
  more market share because it's smaller and it's got room to grow. So I guess that's kind of the
• 12:47
  issue with Apple was that China was going to be a really, really big market for them. And now,
• 12:53
  the relationship between the US and China has broken down or breaking down the China economic
• 12:59
  environment is getting weaker. And so people are just getting a bit concerned with the growth
• 13:04
  that is predicted for Apple. And so that's why it's share prices fallen so much in the first week of
• 13:10
  the year. And it's really now one of the kind of the least loved tech stocks in Wall Street,
• 13:17
  on the new software exchange at the moment. So a lot of these tech companies have done
• 13:21
  fantastically well last year. And I guess the ones kind of come out of their sales a bit will
• 13:26
  particularly for Apple. And it was the only company last year actually where it's
• 13:32
  revenue declined every quarter. So for each four quarters that we had last year, it's revenue
• 13:37
  to climbers, all the other tech names, their revenue increase. So it's having a bit of a tough time.
• 13:42
  But again, remember long-term gain, take a long-term view. Yeah, I was about to say, what do you think
• 13:47
  on that? Because I was about to say, I reckon this is similar to when I had that giant win with Netflix,
• 13:52
  you know, like I still massively believe in Apple. And I fully think that they can make a turnaround
• 13:58
  to come back, what if you want to call it. So if that's what you believe, it's a great time to
• 14:02
  invest, right? Because if the share price is down and you still believe in it at long-term, then
• 14:08
  totally. Yeah, I mean, some people look at this, we look at this headline and be like, oh,
• 14:11
  well, I'm going to invest because the share price is fallen. And I want to get it at a cheaper price
• 14:16
  and all of that. But I guess, yeah, it's kind of thinking, do you think Apple was going to be
• 14:21
  bigger in 5, 10, 20 years time? If you do, then probably an investment for you. So it just depends
• 14:28
  what your time horizon is, what your goal is, what you're investing for that kind of thing.
• 14:34
  And so I guess, flowing on from that is that Apple is the biggest company on
• 14:43
  than America at the moment. So it's worth $2.7 trillion. And it's kind of a counteracting
• 14:50
  of what you just said that it's not doing very well and that it's all done. So it's biggest company,
• 14:55
  but it's fallen a bit, but it's still the leader, if that makes sense. Right. Yeah.
• 15:00
  Oh, God, I think that's fun. But anyway, Microsoft is catching up. Get old, Microsoft.
• 15:06
  So if we looked at the performance last year of Apple, it was up about 40 percent in 2023.
• 15:12
  Microsoft was up about 65 percent. So Apple, I guess, is growing in a smaller pace,
• 15:19
  whereas Microsoft's kind of taking over. And this is all to do with AI. So Microsoft's got a much
• 15:23
  bigger exposure to AI than Apple does at the moment. And so everyone's jumping on the Microsoft
• 15:28
  bandwagon going, yep, cool. They've invested in this open AI, which is chat GPT, making AI
• 15:36
  available to everyone. And so that's why everyone's jumping on the Microsoft share price, which is
• 15:42
  great. I love Microsoft. Yeah. She'll be shitting her pants over that one.
• 15:46
  But yes, so that's quite interesting to see that. And did you know they're creating,
• 15:50
  Microsoft is creating a keyboard, a little AI button on it, a little AI function. So you can just
• 15:56
  press that and you can have AI fingertips, which is great. What do you mean, though? What is it that
• 16:00
  you would need? So it's like going to be right by the space bar and you just click that and it would
• 16:05
  help you create images, write emails, summarize texts, you know, all with the help of AI. So instead of
• 16:12
  logging into like a website or download it, you've got it right there. So yeah, anyway, what else?
• 16:20
  Oh, you're like this one, Sophie. So one company, it's a sneaker company that's about to IPO.
• 16:28
  Eddie, yes. Converse. You wear all the checks, checks, checks, checks. No, no, close, close.
• 16:34
  Fans. You're other ones. You're other ones. Oh no, oh my god, I've got so many sneakers. Oh,
• 16:39
  oh my god. I've got some too. Oh my god, I can't think about the shoes. Mom, what shoes do I have?
• 16:46
  Essex. No, no, they're like, um, be, uh, hiking shoes. No, not crocs. Mom,
• 16:52
  less mom touched like crocs. No, uh, oh shit. What are that? You've got some too. The
• 16:57
  point to be tripping boots. Oh, Solomon's. I love all the arm arm. That is what you're talking about.
• 17:03
  My tripping boots. Yeah. So funny. Yeah. So anyway, Birkenstocks is also a great shoe company that's
• 17:10
  stayed the taste of time I reckon. Yeah. And then IPO would have it there. Yeah, yeah. So they're
• 17:16
  a public company for anyone that's lost to this podcast for the first time. IPO means initial
• 17:21
  public offering, which means that it's a company you can buy shares in if you want to. I'm just
• 17:25
  going to give a little Birkenstock. Yeah, love that. Oh, they've actually done quite well.
• 17:30
  It's up 25 percent. No way. Yeah. Yeah. So the IPO did $41 and it's now at 45. That's
• 17:40
  great. Yeah. To the fact, one key thing is when an IPO can like hold, hold itself above its IPO price
• 17:47
  that does 10 to and I'm not saying every IPO, but I'm just saying that historically companies that
• 17:54
  tend to stay above their IPO price in that first, I don't know, a couple of months. It's quite a
• 18:00
  good sign. So anyway, yes. So this company Solomon's. So it's actually owned by a company called
• 18:07
  Armorsports, AMER. And they own Wilson, the tennis racket company, the tennis team as well. So
• 18:13
  they own Solomon's and Wilson and they're going to IPO in the US. And they're going to IPO, I think
• 18:21
  it's for around, well, it's still speculated, but of around $10 billion. So pretty, pretty big
• 18:26
  decent size company. Sorry, at that point, because you know how you talk about the market cap, so
• 18:32
  the size of a company being the shares times the share price. So say, Solomon's, how much do you
• 18:38
  say it was? 10 billion. Yeah. So like if we were to use a really, really small example, say this
• 18:44
  cushion brand, stunning white cushion, was to IPO. And it had 10 shares that were a million
• 18:52
  dollars eight, then it would be a 10 million dollar pillow company. How do you find that out if
• 18:57
  there's not even shares yet? So for example, the 10 billion, like they're not times and shares by
• 19:03
  the share price. So how do they know it? Yeah. So I guess the difference here is when you have a private
• 19:08
  company, the valuation, so the market cap of the size of the company is determined by a multiple
• 19:15
  of the profit. So say it generated a billion dollars in profit and you thought, hey, I reckon
• 19:22
  this company is worth 10 times its profit, therefore it's worth 10 billion. And then as soon as that
• 19:27
  company IPO's, that's when you break it down a different way and it becomes shares times the share
• 19:35
  price, because you're right, there is no shares, there is no share price. It's confusing because
• 19:38
  with a private company, there is shares and it is a share price, but it's only between private investors.
• 19:44
  So it's not on the public stock exchange yet. So you don't have that that movement. So it is
• 19:52
  determined literally by the company itself and what someone's willing to pay for it. So if say
• 19:59
  armor sports, which owns Wilson and Solomon's, came out to two investors and wanted to list on
• 20:06
  stock exchange and said, we're going to list the 10 billion dollars and everyone was like, whoa,
• 20:10
  absolutely not. That's way too expensive. You only generate a billion dollars of profit. So
• 20:16
  that's 10 times your profit, your profit. We're not going to pay that. Then they'd be like, okay,
• 20:20
  well, how about nine billion? And you keep adjusting it until there's enough demand for people to go,
• 20:27
  yeah, okay, cool. Now we'll buy those shares. So it's a bit of chicken and egg and that's what the
• 20:33
  broker, that's the investment banker and the broker, that's their job is to go to their clients
• 20:38
  and say, hey, what's your appetite for Wilson's Solomon's company? Is it this or this or this?
• 20:44
  And then they go back to the company saying, no one's interested. You're going to have to lower
• 20:47
  your valuation or holy shit, everyone's interested. You're going to need to up your valuation. So
• 20:52
  it's kind of like, yeah, like buying or selling a property as well. You know, if there's no one
• 20:56
  interested, you lower the price until you start getting bites. It's kind of that. So it's kind of
• 21:01
  like being a freelancer. It's so charging yourself out. Exactly. Yeah, if you charge $20 an hour
• 21:07
  and everyone is booking out and you're completely packed out, then you might need to up it to 50
• 21:11
  because I hope no one's charging $20 now, by the way. But yeah, it's like the idea that you
• 21:16
  can work enough, but while still feeling valued, but while not being to, yeah, there's a lot of
• 21:22
  inundated with work and you're like, oh gosh, then you're obviously, yeah, I'm in demand. Yeah,
• 21:27
  I can up my price. So yeah, definitely. Okay. But this IPO, I think we're going to see lots more
• 21:33
  IPOs in this coming year. I think the markets did really well last year. There are about 20 percent,
• 21:39
  you know, companies are probably feeling like, okay, now we can IPO investors, there's demands,
• 21:45
  stock markets done well, all of that. And so yes, and the last couple of years have been really
• 21:50
  dire for in terms of IPOs. So there hasn't been a lot of new companies listing on stock exchanges,
• 21:55
  which doesn't interesting for investors. You know, sometimes you want some fresh meat,
• 21:59
  you know, you have a catch them there. I think you want some cool, fun companies
• 22:03
  that have people's interest, but also a whole bunch of IPOs list and they don't do well,
• 22:07
  then investors are like, oh gosh, I'm not investing in the next one because they haven't done well.
• 22:10
  So the fact that Birkenstocks has done well, this is so bloody like temperamentals,
• 22:17
  not too much. There's not an office. I also think there's something for everyone.
• 22:24
  You know, if you're like, oh, look, I don't really like Birkenstock, but oh, Solomon,
• 22:27
  you know, it's kind of, yeah, yeah, yeah, yeah, everyone. So, but one thing is, and we get asked,
• 22:32
  quite a lot, is how do you invest in IPOs for people that want to? And it's a bit complicated,
• 22:39
  but one thing I would say is that if you are interested in any IPOs that we mention or anything,
• 22:44
  to, I would say, contacts like your Shazies or any platform that you trade off and ask them,
• 22:50
  hey, do you get access to any IPOs that are up and coming? That's good idea. Because it is a bit
• 22:55
  difficult. And just say, I'm looking for fresh meat. I'm not really that stimulated by what's
• 23:01
  currently on the stock market, and I'm feeling a bit bored, so thoughts. Because I know platforms
• 23:07
  like Shazies, they do get access to some IPOs. They might be like, hey, yeah, cool, we've got
• 23:11
  this one coming up, or we, we, you know, signed up to this link and you get access to it. So,
• 23:17
  yeah, just being figuring out what's the best way to keep in the loop in terms of actually buying
• 23:23
  shares. But also, it's not the only time that you can buy shares with IPOs. Yeah, you could
• 23:28
  still buy Birkenstock now, for example. So, have you got anything else news related? Or can we
• 23:32
  start talking about something else I had planned? That's all. Okay, so I'm quite glad you're
• 23:38
  finished with the news because I wanted to ask you a question. So, I was going through the money
• 23:41
  reset content on my holiday, as you do. And I was like, started journaling because I thought it was
• 23:48
  quite good for me to revisit some of the, there's quite a few prompts in there to sort of, I guess,
• 23:54
  unwind and understand your own relationship with money and shames and blah, blah, blah. And I thought
• 23:58
  it would be quite fun to ask each other one of them. So, I wanted to know, yeah, no, it's actually,
• 24:02
  it's not an intense one. I'm going to start chilled. Okay. Do you have an early memory of money?
• 24:08
  What would be your earliest memory? I think selling rosemary, my mum's rosemary on the side of the
• 24:15
  road with my friend. That's like the first memory. Like, I'm sure I did chores when I was younger
• 24:22
  and stuff that I would have been like six or seven years old. Quite cute. Like, she had this
• 24:28
  overgrown rosemary bush. So, we cut it off and we bundle it up and we add down to the
• 24:33
  down two mission bay and we sold it on the side of the road. And I remember it's six.
• 24:38
  Yeah. Six is tiny. That's very entrepreneurial. Yeah, but I mean, I don't know what we sold it for,
• 24:43
  but we made enough to get some McDonald's in their men home. Still good. But I remember people
• 24:50
  were like, what do I use this for darling? And we'd be like, I don't know. And then mum told us
• 24:56
  it's for lamb. So, I hope it's me being like, it's for lamb. I know I do.
• 25:05
  Oh my god. I think it's my earliest memory. But what does that early memory make you think about
• 25:10
  or feel when it comes to money? Like, did you think it had a lasting impact on? I think it probably
• 25:15
  did in terms of if I want freedom and flexibility, there's been money how I want EG on McDonald's,
• 25:23
  then I'm going to have to go out there and hustle and make it myself.
• 25:27
  There's probably kind of more of like a hard work equals money, equals freedom kind of
• 25:33
  mentality in my head. Does that make sense? Yeah. Yeah, that's so cute. And really different to mine.
• 25:39
  My earliest memory of money is this is actually traumatizing. I was five. I really wish
• 25:50
  mum wasn't here. So, I remember I went to a party at the ferry shop and my mum was at
• 25:57
  place. I know how cute was it. Everybody who did it, maybe just for context. Yeah, if you
• 26:03
  were like, what the hell is that? Anyway, there was a party there and mum picked me up and then
• 26:07
  we were all given goody bags. And then mum pulled this thing out of my goody bag and I was one of
• 26:12
  those like, you know, there's crystal balls that you shake and it snows. What are they called?
• 26:16
  It's no globe, yeah. Anyway, she was like, wow, did you get this from the party? And I was like,
• 26:21
  yeah, she was like, are you sure? And I was like,
• 26:26
  liar. She pulled over on the side of the road and was like, so fair, did you get this from
• 26:32
  the party? And I was like, no, I stole that. And just burst into tears. And I had this memory
• 26:39
  standing on the side of the road, bawling my eyes. I'm pretty sure I was hugging one of those
• 26:43
  trees that are in the middle of those berms, you know, when you're in parking lot. And I was like,
• 26:47
  please, she was trying to say to me that you have to take it back and say, sorry, and I'll never
• 26:50
  do it again. And I was like, I'll do anything about that. Like, please don't make me do it.
• 26:54
  Anyway, she made me take this snoblobe back and apologise for stealing it.
• 26:58
  So what do you think that taught you? It taught me that you can steal. And you know,
• 27:06
  if you cry enough, you get away with it.
• 27:09
  No, I don't know. I think I've just always had a fear around money. And I don't know if that
• 27:15
  had anything to do with it. But I think we've been talking for way too long. Let's dive into
• 27:19
  this properly in the next episode. We'll do another one of these because I think it's quite nice
• 27:23
  to share because it makes other people think about their own money reflections. And that for me,
• 27:28
  like in the money reset was one of them. And we had so many emails of people saying the same thing.
• 27:32
  It was like actually looking at your emotional and childhood relationship with money.
• 27:38
  And how it then impacts you now has really helped reframe that for a lot of people. So I'd love
• 27:44
  to do it. Maybe for the next couple of weeks, we can do a few. And I think it's really important
• 27:47
  if you want to change behaviour is kind of thinking of where that behaviour, all that mindset,
• 27:54
  all those thoughts started so that then you can start to unpack that because it's all well
• 27:59
  doing a budget or doing something trying to put processes in place. But if you can't unpack why
• 28:04
  you do that where it came from, how it's impacted you, then I think it's a lot more difficult to
• 28:10
  change. And I think that's what's really cool about this course is that we're kind of not starting
• 28:15
  from now going forward. We're starting from way, way, way back in your life. And you go to the
• 28:21
  therapist and they're like, but what about when you're a child and you're like, I don't want to go
• 28:25
  there. But it's like, they're really on to something. So yeah, if you want more details
• 28:32
  that's in our show notes, but I've got to go to my side of the retreat. So let's wrap this up.
• 28:38
  Hello, bye. Thank you so much for listening to the Curve Weekly. Make sure you hit the
• 28:43
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• 28:48
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• 29:02
  you have a good week and see you next Monday. Bye. Bye. See you next Tuesday. Wow.
• 29:11
  See you next Tuesday. I mean Monday.