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FRIDAY DRINKS: Rich CEO's and Cumquat Jam · She's On The Money

• 0:00
  Speaker 1: She's on the Money. She's on the Money.
• 0:29
  Speaker 2: Hello, and welcome to She's on the Money, the podcast
• 0:32
  Speaker 2: for millennials who want financial freedom. Welcome back to another
• 0:35
  Speaker 2: one of our Friday Durings episodes where our entire team
• 0:38
  Speaker 2: will merely our entire team get to celebrate the money
• 0:41
  Speaker 2: wins from our She's on the Money community because there
• 0:43
  Speaker 2: are always so many great ones in the community and
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  Speaker 2: great stories, which we have a few off for you today.
• 0:49
  Speaker 2: But before we get into the juicy stuff, Tony, take
• 0:52
  Speaker 2: us through what happened on this week's Money Darry.
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  Speaker 3: We spoke to a young woman who little content warning,
• 0:57
  Speaker 3: has been through and eating disorder and has come through
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  Speaker 3: the other side and is now working with other people
• 1:02
  Speaker 3: that have experienced eating disorders and how she aims to
• 1:06
  Speaker 3: work in the space and make a difference to other
• 1:08
  Speaker 3: people and how that's impacted her financially. And it was
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  Speaker 3: a really insightful one. But obviously, if that's something that
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  Speaker 3: might not sit too well with you at the moment,
• 1:17
  Speaker 3: maybe give it a skip.
• 1:18
  Speaker 2: But it was a few other good ones.
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  Speaker 3: Yeah, there's heaps in there, but it was a really
• 1:22
  Speaker 3: nice chat and she was just super informed in the
• 1:26
  Speaker 3: space that she works in which was so refreshing to
• 1:29
  Speaker 3: hear such like a informed story. It was a really
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  Speaker 3: special one. So if you've got a spare half an hour,
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  Speaker 3: make sure you give it a listen.
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  Speaker 2: Yeah, and if you also have a spare half an
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  Speaker 2: hour and a good money story, pop on over to
• 1:40
  Speaker 2: our website and feel in our money story submissions and
• 1:43
  Speaker 2: you might find yourself on the podcast Juicy. Speaking of Juicy,
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  Speaker 2: Georgia King, what was that Wednesday's episode?
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  Speaker 4: Yes, so this Wednesday we spoke about how to be
• 1:56
  Speaker 4: a savvy student. So that was for kids in high school,
• 1:59
  Speaker 4: kids in Uni tape fall at the places.
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  Speaker 5: Excuse kids, you're also in.
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  Speaker 4: The university, buddy, where kids were young, were hip.
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  Speaker 2: I feel like you're probably one of those people that
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  Speaker 2: was just a really good student, Like you were good
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  Speaker 2: at money eating Ramen like, is that right?
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  Speaker 4: I was extremely frugal and I did. I gave away
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  Speaker 4: some of my tips on the episode. I think, what
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  Speaker 4: do we have? We had student discounts, the importance of
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  Speaker 4: establishing good money habits early rather than postponing and just
• 2:27
  Speaker 4: doing it when we have a hot income, the downfalls
• 2:31
  Speaker 4: of after pay as we so often talk about. But
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  Speaker 4: I wanted to throw it to you guys, because me
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  Speaker 4: and I spoke about our little frugal ways back.
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  Speaker 2: In the day.
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  Speaker 4: How did you guys save money when you're at UNI?
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  Speaker 6: I lived at home, genius.
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  Speaker 2: Yeah, it's not easy, the toppest.
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  Speaker 3: Yeah, I wasn't paying rent.
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  Speaker 6: I wish I still lived on now.
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  Speaker 5: I think I shared this as a money when earlier
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  Speaker 5: in the year, but I had a subject where we
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  Speaker 5: one hundred percent had to purchase the textbook, and you
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  Speaker 5: know how text war literally hundreds of dollars, So I
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  Speaker 5: just googled the name of it PDF and printed it
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  Speaker 5: off just six dollars. You're welcome, genius. Also pay academics
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  Speaker 5: better there, smart people. Thank you for I watch three jobs.
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  Speaker 4: So good girl.
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  Speaker 2: So she wasn't frugal, she was just living her best life,
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  Speaker 2: but also working all the time, is that right?
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  Speaker 7: Yeah pretty much, but.
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  Speaker 5: Also funding that best life.
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  Speaker 2: So yeah, yeah, absolutely, Georgia. I do have a question
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  Speaker 2: for you, though, talk to me because I feel like
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  Speaker 2: you might should been known in your friend circles as
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  Speaker 2: being a little bit frugal, Is that right?
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  Speaker 4: Are you bringing this up because maybe Devo told you that.
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  Speaker 2: Nah, I don't know what was the most frugal thing
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  Speaker 2: you ever did during UNI.
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  Speaker 4: I remember, instead of like buying lunch with my friends once,
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  Speaker 4: I just I pretended I wasn't hungry and just ate
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  Speaker 4: some some dried mango I found in my bag.
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  Speaker 7: That is such a poor story, I know.
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  Speaker 2: Wow, I feel like that's relatable though, if you don't
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  Speaker 2: have money, but like you were such a good savor
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  Speaker 2: that I know you probably could have afforded.
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  Speaker 4: Lut Here's the deal when I I didn't have a
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  Speaker 4: job in high school because I did sport forty eight
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  Speaker 4: times a week, not a joke. So I came to
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  Speaker 4: part time work after school. We can cut this if
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  Speaker 4: it's boring.
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  Speaker 2: But I didn't know leaving it, leave the content.
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  Speaker 4: I didn't know that people didn't save all of their money,
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  Speaker 4: so I thought I was like behind. So I was
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  Speaker 4: really frugal because I was like I got to catch
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  Speaker 4: up didn't have a job in high school. Then I
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  Speaker 4: realized I was filthy rich.
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  Speaker 2: I That is not where I thought that was going from.
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  Speaker 2: Someone who was eating dried mango from the bottom of
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  Speaker 2: her I could have been eating caveato. Well on that note,
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  Speaker 2: Georgia King, let's witch on over back to Jessicci and
• 4:47
  Speaker 2: ask you what we're drinking today.
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  Speaker 8: Well, we did a little fridge clear out because we
• 4:52
  Speaker 8: had some goodnds rolling around. So I'm personally drinking the
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  Speaker 8: thing that nobody else wanted to drink except me, which
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  Speaker 8: is a nice little mess Moscado that came from.
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  Speaker 5: People listening going, oh, that's so strange that no one
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  Speaker 5: else wanted to drink that.
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  Speaker 8: Everyone's just ripping into my drink choices. If you follow
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  Speaker 8: Victoria on Instagram, you know I got absolutely reamed on
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  Speaker 8: my birthday, mind you for my beverage of choice, which
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  Speaker 8: is a Vodkas sun Rice who purchased that for you? Yeah,
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  Speaker 8: it was very kind. It didn't come without a cost, though,
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  Speaker 8: everywhere I am reaming you because I paid for it.
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  Speaker 5: I would say that's better than Muscado in a can.
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  Speaker 7: It's fair, That's totally fair.
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  Speaker 6: I disagree.
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  Speaker 8: The rest of the team, though, sipping on a little
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  Speaker 8: Matso's ginger.
• 5:34
  Speaker 2: Beer again because it is great.
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  Speaker 5: Yeah.
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  Speaker 8: I was gonna say, we're a big fan of the Matsos.
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  Speaker 7: Aren't we.
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  Speaker 5: West of Astray is finest.
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  Speaker 2: It is indeed not bad, good size. All right, Ryan,
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  Speaker 2: take it away. What have we got from the community
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  Speaker 2: this week.
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  Speaker 5: Today we have the greatest Facebook marketplace win of the year.
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  Speaker 5: Is that a big?
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  Speaker 3: It's not from big, and it's July, so six months worth.
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  Speaker 5: Of no one's going to be place wins.
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  Speaker 2: We'll get to that manifesting. Probably not.
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  Speaker 5: They didn't use the word, but I mean just will
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  Speaker 5: try and claim it. Let's start though with Annie and
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  Speaker 5: I think there's going to be a few of these
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  Speaker 5: over the next few weeks. I did my tax last week,
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  Speaker 5: kind of forgot I submitted it. Found eight thousand extra
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  Speaker 5: dollars floating around in my accounts.
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  Speaker 2: This hell, how do you find eight grand of extra
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  Speaker 2: dollars that you just didn't anticipate coming back?
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  Speaker 5: Well, I don't know if maybe Annie got a new job,
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  Speaker 5: or she's probably rich.
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  Speaker 3: Maybe Annie wants to share her accountants details.
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  Speaker 5: Yeah's doing a great job.
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  Speaker 2: You Okay, we are slow.
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  Speaker 5: Bianca is doing no Spend July and she said, I
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  Speaker 5: normally say five hundred dollars a fortnight, which is pretty
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  Speaker 5: good as is, But she said, I've surprised myself in
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  Speaker 5: the first two weeks of no Spend July and extra
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  Speaker 5: one two hundred and fifty dollars.
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  Speaker 2: I've been able to say, I really want to see
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  Speaker 2: the breakdown, Like what were you spending that on before?
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  Speaker 5: She said she's only paying bills and like the absolute
• 7:02
  Speaker 5: legal necessities and.
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  Speaker 2: Probably eating mango from the bottom of a handbag. George,
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  Speaker 2: that's a hot t do it if you got to?
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  Speaker 5: Yeah, I mean I think feel like bank is doing it. Now.
• 7:10
  Speaker 5: This is Keatrel. We recently had our second baby and
• 7:13
  Speaker 5: we've started to you know, prepare the house for you know,
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  Speaker 5: a family rather than you know, just that one little
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  Speaker 5: baby and a couple. So they bought a big dining
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  Speaker 5: table for the house. My fiance tried to put our
• 7:24
  Speaker 5: old tiny table to the curb side. However, we've been
• 7:27
  Speaker 5: on the hunt for a coffee table and I thought,
• 7:29
  Speaker 5: hang on a second. I've chopped the legs off to
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  Speaker 5: make the small dining table a mini coffee table, sanded
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  Speaker 5: it back brand new furniture for zero dollars spend. Now,
• 7:41
  Speaker 5: this is Heidi. I'm going to put this out there.
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  Speaker 5: This may be one of the more wholesome money.
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  Speaker 8: Wins we've had.
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  Speaker 5: We've been teaching my eight year old son about the
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  Speaker 5: value of money, and that's like a really hard thing
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  Speaker 5: because you know, kids don't understand. I remember the atm
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  Speaker 5: I'm like, Mum, you just go to the machine and
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  Speaker 5: it just gives.
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  Speaker 8: It to you, right, like I get mean ageer, and
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  Speaker 8: I still didn't understand.
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  Speaker 3: I used to think that when you got change at
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  Speaker 3: a shop, it was them giving you the money that
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  Speaker 3: you didn't have, so like yeah, so like if something
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  Speaker 3: was two dollars and you had one dollar, they went, oh,
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  Speaker 3: here's the dollar you need.
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  Speaker 6: Like that's what That's what I thought change was.
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  Speaker 3: And I remember explaining it to my mum and she
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  Speaker 3: was like, all right, you ask him. And I remember
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  Speaker 3: walking up with his headband and being like, I've got
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  Speaker 3: one dollar.
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  Speaker 6: This headband's two dollars. Can you give me the change?
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  Speaker 3: And they were like, no, babe, where is your mother?
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  Speaker 5: How old were you when this happens?
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  Speaker 6: Would have been like four or five?
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  Speaker 5: Like little fourteen?
• 8:39
  Speaker 4: No?
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  Speaker 5: All right, So Heidi said, we've given our eight year
• 8:43
  Speaker 5: old son the job of adding up the groceries at
• 8:46
  Speaker 5: the supermarket as we go. It kind of like counts
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  Speaker 5: a running tally of the price.
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  Speaker 6: Is he a genius?
• 8:52
  Speaker 5: There's probably.
• 8:55
  Speaker 2: He just like walks around with his little calculator.
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  Speaker 5: He did any taxes, So every week we have a
• 9:00
  Speaker 5: budget of two hundred dollars, but since we've been adding
• 9:03
  Speaker 5: it up, it just means when we're in the supermarket,
• 9:05
  Speaker 5: we're paying a bit more attention to it, so we're
• 9:07
  Speaker 5: less likely to end up going, oh yeah, just chuck
• 9:09
  Speaker 5: it in, it's fine. We're actually saving fifty dollars a
• 9:12
  Speaker 5: week wow, because we're being more conscious with our spending
• 9:16
  Speaker 5: and we're teaching our sun the value of money in them.
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  Speaker 2: Money tip here, get an eight year old to do
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  Speaker 2: your taxes and grocery shopping.
• 9:25
  Speaker 5: Well done, Brook says, money loss. My yoga studio that
• 9:28
  Speaker 5: I visit two to three times a week is in
• 9:30
  Speaker 5: lockdown because of Sydney. However, they're still taking seventy dollars
• 9:34
  Speaker 5: per fortnite with the direct debits still going through.
• 9:37
  Speaker 7: They can't do that. They definitely can't do that.
• 9:39
  Speaker 5: Well Brook says, I'm now broke and chubby, but I
• 9:43
  Speaker 5: feel you, Babe.
• 9:46
  Speaker 8: Brook, send them an email and see if they'll debit
• 9:49
  Speaker 8: what you have already paid for future months, because there's
• 9:53
  Speaker 8: no way they can charge you for a service that
• 9:55
  Speaker 8: they physically cannot provide you. So I would definitely send
• 9:58
  Speaker 8: them an email, and anyone else who's done this thing.
• 10:00
  Speaker 8: A lot of businesses have late when Melbourne went through lockdown,
• 10:03
  Speaker 8: froze your payments and if they haven't done that, you
• 10:06
  Speaker 8: are definitely entitled to email them and see if they will.
• 10:09
  Speaker 5: Absolutely thank you for that.
• 10:10
  Speaker 2: Karen, I mean, Jessica so rude.
• 10:14
  Speaker 5: Steph said, and a big congratulations to Steph. I paid
• 10:17
  Speaker 5: off my hex step this year. However, I didn't realize,
• 10:23
  Speaker 5: said Steph, that my employer was continuing to take out
• 10:26
  Speaker 5: money for my HEX because you know how it comes
• 10:28
  Speaker 5: out with you pay and stuff like that. Because of this,
• 10:31
  Speaker 5: my tax return was obviously healthy. Just got a refund
• 10:36
  Speaker 5: of fifteen thousand and it's going straight to shares and
• 10:41
  Speaker 5: ETF's money.
• 10:43
  Speaker 2: That's very good learning for everybody who's maybe coming up
• 10:47
  Speaker 2: to their HEX being fully paid off. That those little
• 10:50
  Speaker 2: things add up. And as we say in the community,
• 10:52
  Speaker 2: and as Paul Kenley says, from little things, big things
• 10:55
  Speaker 2: do grow.
• 10:56
  Speaker 7: Don't even try it didn't.
• 11:00
  Speaker 2: How speaking, have you just got a cheese on the
• 11:04
  Speaker 2: money sound board in front of you all the.
• 11:05
  Speaker 5: Time just in case it'll all make sense in about
• 11:08
  Speaker 5: fourteen seconds, right, But yeah.
• 11:10
  Speaker 2: Money win to potentially reallocate those funds as soon as possible,
• 11:15
  Speaker 2: so they don't just get absorbed into your every day.
• 11:17
  Speaker 8: Spending and you wouldn't even notice it, like if you
• 11:19
  Speaker 8: didn't ye, all.
• 11:22
  Speaker 5: Right, Allison said, I invested for the first time with
• 11:24
  Speaker 5: Spaceship in the Earth portfolio and feeling really good about myself.
• 11:27
  Speaker 5: I deposited one hundred dollars and I'm just adding fifty
• 11:30
  Speaker 5: dollars per week. I know it's small, but oh that's fits.
• 11:36
  Speaker 5: She also made fifty cents in growth this week. Yes,
• 11:41
  Speaker 5: all right, the final one, Lauren, and I'm going out
• 11:45
  Speaker 5: in the limb and saying the Facebook marketplace money win
• 11:49
  Speaker 5: of the year.
• 11:49
  Speaker 2: All right, let's hear it.
• 11:50
  Speaker 5: Actually, First of all, Victoria, how would you describe a
• 11:53
  Speaker 5: car as an asset? Does it appreciate in value as
• 11:55
  Speaker 5: the client?
• 11:56
  Speaker 2: Where a car is appreciating asset? In my Actually, I
• 12:00
  Speaker 2: feel like I'm being taken for a.
• 12:01
  Speaker 8: Ride in the current clibe in the car right.
• 12:04
  Speaker 2: Now, and that you're going to give us a money
• 12:06
  Speaker 2: win about someone making money on a car, because the
• 12:09
  Speaker 2: current secondhand car market is wild and people are making
• 12:13
  Speaker 2: a lot of money on cars that last year were worthless.
• 12:16
  Speaker 5: Why why?
• 12:17
  Speaker 2: Because of demand? So new cars at the moment are
• 12:20
  Speaker 2: really hunt cars. Why so if you're purchasing a new
• 12:22
  Speaker 2: car because of like Freighton, you know, getting it around
• 12:24
  Speaker 2: the world, because obviously there aren't that many cars. I
• 12:26
  Speaker 2: don't think there are any cars nowadays that are built
• 12:29
  Speaker 2: solely in Australia anymore, so they're all imported. And because
• 12:33
  Speaker 2: of this, there are massive weights, like I know people
• 12:35
  Speaker 2: who are waiting like six months for new cars, whereas
• 12:37
  Speaker 2: historically that hasn't been an issue. So obviously there's more
• 12:40
  Speaker 2: demand for secondhand cars, which drives their price up. So
• 12:45
  Speaker 2: that's my little inkling on what maybe Ryan's gonna tell
• 12:48
  Speaker 2: us about a money win.
• 12:49
  Speaker 5: So I'd note I sold my car last week, and
• 12:51
  Speaker 5: you're right, I did a lot better than I probably
• 12:53
  Speaker 5: should have money win. Anyway, Lauren says, I bought a
• 12:56
  Speaker 5: car five years ago for eleven thousand, five hundred on
• 13:00
  Speaker 5: gum Tree. Eleven five hundred dollars five years ago.
• 13:04
  Speaker 7: And as you say, what car, it is a long
• 13:06
  Speaker 7: time as well.
• 13:07
  Speaker 5: Five and like we were saying, cars depreciate, she was like, oh,
• 13:11
  Speaker 5: I just need to get rid of it. I'll chuck
• 13:13
  Speaker 5: it on Facebook Marketplace. Last week it's sold for twelve
• 13:17
  Speaker 5: thousand dollars, which is a profit of five hundred bucks
• 13:21
  Speaker 5: five years after the fact, and that is my gosh.
• 13:24
  Speaker 5: I didn't realize such high value transactions were going down
• 13:27
  Speaker 5: on marketplaces either.
• 13:28
  Speaker 8: I've seen people sell houses. I've never seen a house
• 13:33
  Speaker 8: people do it.
• 13:33
  Speaker 5: That's a lot.
• 13:34
  Speaker 2: My dad sold a car once on marketplace and I
• 13:36
  Speaker 2: was very happy with him.
• 13:38
  Speaker 5: Well done. Well, anyone wants to beat that. You've got
• 13:41
  Speaker 5: five months.
• 13:42
  Speaker 2: I want to know how much have you made on
• 13:44
  Speaker 2: your secondhand car. It's very niche content, but I feel
• 13:47
  Speaker 2: like it would be real pervy.
• 13:48
  Speaker 5: Well, like you said, the market's going hot, so there
• 13:50
  Speaker 5: might be a couple of special stories in there.
• 13:53
  Speaker 2: Crazy.
• 13:54
  Speaker 5: Should we do a thread though, of like secondhand car
• 13:56
  Speaker 5: wins or something like that.
• 13:58
  Speaker 2: In the ground wins. I want to see what people
• 14:00
  Speaker 2: have like flipped things for so like did you find
• 14:03
  Speaker 2: something at the op shop that you were like, oh,
• 14:05
  Speaker 2: this is actually like a Gorman piece. Because we've had
• 14:07
  Speaker 2: a few of those money wins in the community before,
• 14:10
  Speaker 2: but I want to hold thread of them, like when
• 14:11
  Speaker 2: have you found something that you knew was valuable you
• 14:14
  Speaker 2: bought for cheap and then flipped for expensive and then
• 14:17
  Speaker 2: flip for more money.
• 14:18
  Speaker 7: We'll pop it in a Facebook.
• 14:19
  Speaker 2: Is that cute that?
• 14:20
  Speaker 5: Yeah, let's do that. I'll share the best ones in
• 14:22
  Speaker 5: next week's Wins.
• 14:32
  Speaker 2: All right, we are back and Ryan and I have
• 14:34
  Speaker 2: an article that we want to discuss. It is called
• 14:37
  Speaker 2: Wages of Australia's Top Bosses Revealed and I ended up
• 14:41
  Speaker 2: going down an absolute rabbit hole with this one. I'll
• 14:44
  Speaker 2: get to that in a hot second. You guys better
• 14:46
  Speaker 2: be on the edges of your seats for this. But Ryan,
• 14:48
  Speaker 2: why did you think that this was an interesting piece
• 14:51
  Speaker 2: of content?
• 14:52
  Speaker 5: We have the twenty highest paid CEOs in Australia. Twenty.
• 14:58
  Speaker 5: Let's go around the room real quick. I know the answer.
• 15:01
  Speaker 2: How manycuss how much we get paid?
• 15:03
  Speaker 7: Because it's not even I'm not going to.
• 15:05
  Speaker 5: Compare to these guys.
• 15:05
  Speaker 7: It's going to make me sad.
• 15:06
  Speaker 5: How many women do we believe are in the top
• 15:09
  Speaker 5: twenty of this top paid CEOs in Australia.
• 15:13
  Speaker 7: Four?
• 15:14
  Speaker 5: Tony says four.
• 15:14
  Speaker 4: Georgia King, I'll stick to what I said earlier.
• 15:16
  Speaker 2: I said zero, Jessica, that's a mystic.
• 15:19
  Speaker 7: I hate my health for this answer, but I'm going
• 15:21
  Speaker 7: to say three.
• 15:22
  Speaker 5: The answer is one.
• 15:26
  Speaker 6: I was I was too excited. I thought it must be.
• 15:29
  Speaker 5: Rung one out of twenty fourth on the list. Shamara,
• 15:32
  Speaker 5: she's the CEO of Macquarie Group. Talk about bosses. Sixteen
• 15:36
  Speaker 5: point thirty nine million dollars is her salary annually.
• 15:41
  Speaker 2: That's not even then, that's not even the top. The
• 15:44
  Speaker 2: top paid CEO of an ASX two hundred listed company
• 15:48
  Speaker 2: is Paul Peroult from CSL, who makes her whopping forty
• 15:53
  Speaker 2: three zero four million dollars each and every single year.
• 15:58
  Speaker 2: But the kicker is I've obviously dolls and calculations.
• 16:01
  Speaker 7: Guys, are you ready?
• 16:03
  Speaker 5: That's not we just really confirm that is not network,
• 16:05
  Speaker 5: that is not oh, this is my business. That's that salary.
• 16:09
  Speaker 5: That's your case.
• 16:10
  Speaker 2: But I have taken that number, not assumed how many
• 16:13
  Speaker 2: days he works in CEO's probably busy, went through COVID,
• 16:16
  Speaker 2: probably hasn't taken the break. He's probably working three hundred
• 16:18
  Speaker 2: and sixty five days a year. If that is the case,
• 16:20
  Speaker 2: he has made a total of one hundred and seventeen
• 16:22
  Speaker 2: thousand dollars a day. That's a lot of I knew
• 16:27
  Speaker 2: that the rich.
• 16:28
  Speaker 8: People made a lot of money, but like I did
• 16:32
  Speaker 8: not comprehend that they make like that is more money
• 16:35
  Speaker 8: than I will potend like arguably earning my lifetime.
• 16:38
  Speaker 5: And they're making forty three million.
• 16:40
  Speaker 3: I'm pretty sure the average a person is like two
• 16:45
  Speaker 3: million dollars in your lime.
• 16:48
  Speaker 5: Yeah yeah, for one week.
• 16:51
  Speaker 2: So per day he makes one hundred and seventeen thousand
• 16:55
  Speaker 2: dollars like each and every single day. That doesn't even
• 16:57
  Speaker 2: include the days that he would work. We could cow
• 17:00
  Speaker 2: that as well.
• 17:01
  Speaker 5: So the median wage in Australia for all people is
• 17:04
  Speaker 5: fifty five and the average is eighty. So he's well
• 17:07
  Speaker 5: above that a day day and that's what people earn
• 17:10
  Speaker 5: a year.
• 17:11
  Speaker 6: That is shocking.
• 17:12
  Speaker 5: The only one that I knew. I don't like keep
• 17:14
  Speaker 5: up with who's the CEO of what? But the CEO
• 17:17
  Speaker 5: of Quantus. He's often in the news Alan Joyce, you know,
• 17:20
  Speaker 5: especially the COVID he pops up. He's number twelve on
• 17:22
  Speaker 5: the list, ten million dollars per year. And keep in
• 17:25
  Speaker 5: mind that's a lot of money, a lot of money
• 17:28
  Speaker 5: for it. Does Quantas still have flights like there's been
• 17:30
  Speaker 5: like airlines haven't been doing the best business ever? I
• 17:33
  Speaker 5: would have.
• 17:34
  Speaker 3: Assumed, No, he's normally a bit higher on that on
• 17:39
  Speaker 3: that list, and.
• 17:39
  Speaker 5: Plumped down to ten million per year. Let me get
• 17:42
  Speaker 5: my tiniest of violins.
• 17:44
  Speaker 2: I know awful. I also did some more calculating based
• 17:48
  Speaker 2: on Paul Peroult. I'm not trying to throw this guy
• 17:50
  Speaker 2: under a bus. He's clearly doing a good job, but
• 17:52
  Speaker 2: just the numbers in my head don't add up. And
• 17:55
  Speaker 2: so you know how before I did the three hundred
• 17:57
  Speaker 2: and sixty five days. Cool, well, we're not all working
• 18:00
  Speaker 2: for that. Hopefully he did take his four weeks of annually,
• 18:03
  Speaker 2: which means he probably worked forty eight weeks of the year.
• 18:06
  Speaker 2: Because fifty two weeks, four weeks he made eight hundred
• 18:09
  Speaker 2: and ninety five thousand dollars a week.
• 18:11
  Speaker 7: Oh, like it, that's too much money.
• 18:14
  Speaker 2: He's seventeen thousand dollars a day if it's every single
• 18:17
  Speaker 2: day of the year, like if you just divide it,
• 18:19
  Speaker 2: but like, if you work it out on what he's
• 18:21
  Speaker 2: actually working, that's nearly nine hundred thousand dollars a week.
• 18:25
  Speaker 2: I just look at it from my financial advice a hat,
• 18:27
  Speaker 2: because they are actually employed. It's not like they're getting
• 18:30
  Speaker 2: paid into a business. Like that money is not getting
• 18:32
  Speaker 2: paid into it. Like it just actually baffles me. It
• 18:36
  Speaker 2: imagine what his tax return looks like. Oh, imagine he
• 18:38
  Speaker 2: was just like dawdling down to his account and he's like, oh,
• 18:40
  Speaker 2: I've got to do my tax return. Here's my group certificate.
• 18:42
  Speaker 2: But what group certificate? But like that's the shocking thing
• 18:46
  Speaker 2: he would have gotten. Given a group certificate, he would
• 18:50
  Speaker 2: have been able to log into his ATO portal.
• 18:52
  Speaker 1: Like everybody I.
• 18:55
  Speaker 2: Didn't see that. He'd be like, oh, sorry, CSL, have
• 18:57
  Speaker 2: you told my group? So, yeah, it's not on the
• 18:59
  Speaker 2: ATO portal. Yeah, I gotta do my tax is. Like
• 19:01
  Speaker 2: that's legit.
• 19:02
  Speaker 6: Oh my god.
• 19:03
  Speaker 5: Maybe he'll be in next week's Money Wins. Hey, guys,
• 19:05
  Speaker 5: I just got my tax back four million. Yeah.
• 19:08
  Speaker 2: But coming back to something that is really important to me,
• 19:11
  Speaker 2: and that's obviously women in leadership and leadership positions. And
• 19:13
  Speaker 2: I'm so proud to see that there is a female
• 19:15
  Speaker 2: sitting at number four. Shamara is incredible, right, Like I've
• 19:19
  Speaker 2: followed her for a while, bit of a fangirl. She's
• 19:22
  Speaker 2: a CEO of McCrary Bank. She has been there for
• 19:24
  Speaker 2: I think thirty five years. She's just a vision right,
• 19:27
  Speaker 2: really smart obviously, but also a leader in her field.
• 19:31
  Speaker 2: And she made at number four sixteen point three nine
• 19:35
  Speaker 2: million dollars, which is obviously incredible but clearly significantly less
• 19:39
  Speaker 2: than others.
• 19:39
  Speaker 5: But that's that's fine.
• 19:40
  Speaker 6: She's still number four.
• 19:42
  Speaker 2: But the thing that I was interested in, because I
• 19:44
  Speaker 2: went down a little bit of a rabbit hole here,
• 19:46
  Speaker 2: is that she was actually not the highest paid person
• 19:49
  Speaker 2: at Macquarie for the twenty.
• 19:51
  Speaker 6: One as the CEO.
• 19:53
  Speaker 2: Yep, no, it was an executive called Nicocaine who took
• 19:56
  Speaker 2: home a total remuneration package of twenty six points three
• 20:00
  Speaker 2: million dollars.
• 20:01
  Speaker 7: What does he do.
• 20:02
  Speaker 2: He is the head of Commodities and Global Markets business
• 20:05
  Speaker 2: at maccrory Group, which is just a fancy name for
• 20:09
  Speaker 2: an executive. He does a lot. Obviously he gets paid
• 20:11
  Speaker 2: one very well. But I think the thing that really
• 20:13
  Speaker 2: annoyed me here is like, there's this really great news
• 20:15
  Speaker 2: story about a woman hitting number four on like the
• 20:18
  Speaker 2: highest paid CEO's list, and then you kind of look
• 20:21
  Speaker 2: a little bit deeper and you see she's not even
• 20:23
  Speaker 2: the highest paid person at her business. Yet she has
• 20:26
  Speaker 2: been there for the last thirty five years. Yeah, she's
• 20:29
  Speaker 2: you know, arguably really smart, gotten to the point where
• 20:32
  Speaker 2: she's the CEO, and yet she is still not the
• 20:35
  Speaker 2: highest paid person in the business, despite the fact that
• 20:37
  Speaker 2: every other CEO on that list is the highest paid
• 20:41
  Speaker 2: person in their business.
• 20:42
  Speaker 6: That's what I was going to ask.
• 20:43
  Speaker 3: Is it really naive of me to think that a
• 20:46
  Speaker 3: CEO is the highest paid person in a company?
• 20:49
  Speaker 2: No, it is absolutely not, And it's really driven by,
• 20:51
  Speaker 2: you know, the values of the business and what's going
• 20:54
  Speaker 2: on right. You know, Shamara has actually taken a little
• 20:57
  Speaker 2: bit of a hit because of COVID, and she's been
• 20:58
  Speaker 2: trying to make sure that the stays afloat, and she's
• 21:01
  Speaker 2: been attributed to have, you know, done a whole heap
• 21:03
  Speaker 2: of really great things from more Quarry and I won't
• 21:05
  Speaker 2: get too far into it, but she's done really impressive things.
• 21:08
  Speaker 2: It just kind of baffles me as a woman. I'm
• 21:10
  Speaker 2: not calling it out as like, oh my god, I
• 21:12
  Speaker 2: can't believe it. I'm just more like, hey, did you
• 21:14
  Speaker 2: know that if you start looking even further, as much
• 21:16
  Speaker 2: as it sounds really shiny and it sounds really great,
• 21:19
  Speaker 2: like to distill it down, there's one woman on this
• 21:22
  Speaker 2: list and she's incredible, but she's still not the highest
• 21:25
  Speaker 2: paid person in her business. Despite the fact that the
• 21:27
  Speaker 2: news are putting it up there and being like, oh,
• 21:29
  Speaker 2: this is such a great news story, and it's kind
• 21:31
  Speaker 2: of like, oh me, it's great, but also what's going
• 21:33
  Speaker 2: on guys?
• 21:34
  Speaker 5: Yeah, like it's so strange, like very strange. I get
• 21:38
  Speaker 5: how mathematically it works out, because his department might have
• 21:40
  Speaker 5: had bonuses or whatever, but just just like you're saying, Tony,
• 21:43
  Speaker 5: the concept that the top dog isn't the highest earner
• 21:46
  Speaker 5: just doesn't make sense.
• 21:48
  Speaker 8: Especially big clopro because like you kind of expect it
• 21:51
  Speaker 8: in small business because a lot of small biz owners,
• 21:53
  Speaker 8: you know, are taking the hit or you know, reallocating
• 21:56
  Speaker 8: those funds to keep their businesses afloat or maybe to
• 21:58
  Speaker 8: hire their first employee. But like in a big corporate
• 22:02
  Speaker 8: in the terms of the food chain, SEEO, like, yeah,
• 22:04
  Speaker 8: the toss.
• 22:05
  Speaker 5: So does this guy like, just purely hypothetically, if he
• 22:08
  Speaker 5: were to get you know, Shamara steps down after a
• 22:11
  Speaker 5: huge rain, he gets in Inverticom, has promoted to CEO
• 22:14
  Speaker 5: and then takes a pay cut.
• 22:15
  Speaker 8: There's no way he'd take a promotion in a pay
• 22:17
  Speaker 8: cut though five million dollars more than the CEO.
• 22:21
  Speaker 5: Would you rather not be the CEO, not have that
• 22:23
  Speaker 5: stress and just oh I guess I'll have to take
• 22:24
  Speaker 5: five million more maybe.
• 22:26
  Speaker 3: If I have to, Honey, When I know you said
• 22:29
  Speaker 3: before that Shamara has done her bit for COVID and
• 22:32
  Speaker 3: tried to help out the business and stuff. But have
• 22:34
  Speaker 3: any of these other CEOs do you reckon they've reached
• 22:37
  Speaker 3: into their pocket and gone, oh, to make sure that
• 22:39
  Speaker 3: everyone stays stays employed, I'll give him a little bit
• 22:42
  Speaker 3: of a crissy bonus or something.
• 22:44
  Speaker 2: I'd love a chrissy bonus to that extent anyway, So yes,
• 22:49
  Speaker 2: some of them have so, but more statistically, I haven't
• 22:52
  Speaker 2: looked into it when it comes to like individually, I'm
• 22:54
  Speaker 2: sure I could. It would be real pervy. Maybe I should.
• 22:56
  Speaker 2: Maybe that's what I get up to in my free
• 22:58
  Speaker 2: time this weekend. Anyway. The typical CEO bonus actually fell
• 23:02
  Speaker 2: a lot in twenty twenty, and it fell to a
• 23:04
  Speaker 2: record low of thirty one percent of the maximum, down
• 23:09
  Speaker 2: from sixty percent in twenty nineteen. So I would say
• 23:12
  Speaker 2: that it's halved, obviously, but I do think, yeah, it
• 23:16
  Speaker 2: kind of makes me feel a little bit icky when
• 23:19
  Speaker 2: we talk about these big numbers and how much it is,
• 23:21
  Speaker 2: and like, you know, I've calculated that this guy was
• 23:23
  Speaker 2: making one hundred and seventeen thousand dollars a day, but
• 23:27
  Speaker 2: there were probably people of his business struggling through COVID
• 23:31
  Speaker 2: that you know.
• 23:32
  Speaker 3: Or that were asked to take a ten percent pay
• 23:34
  Speaker 3: cut when ten percent of forty six million dollars is
• 23:36
  Speaker 3: actually a bit bigger of a chunk than forty percent
• 23:39
  Speaker 3: of your fifty grand a year for your low level limb.
• 23:42
  Speaker 5: Yeah, and do you.
• 23:42
  Speaker 8: Feel the same though, surely your spending habits, your spending
• 23:46
  Speaker 8: habits cannot match that.
• 23:48
  Speaker 5: Like, and you know what li lifestyle creepy.
• 23:52
  Speaker 2: Like as someone who works in wealth, Like, yes, absolutely,
• 23:55
  Speaker 2: Like we're not saying it's it's a bad thing, but
• 23:57
  Speaker 2: we are saying like, it doesn't you get to a
• 24:00
  Speaker 2: point of saturation I believe.
• 24:02
  Speaker 6: Which I can't spend any more money.
• 24:04
  Speaker 2: More money doesn't actually do all that much for you
• 24:07
  Speaker 2: in terms of lifestyle, And I'm sure it does when
• 24:09
  Speaker 2: it comes to assets and if you're like building big
• 24:11
  Speaker 2: construction businesses.
• 24:12
  Speaker 6: And stuff like.
• 24:13
  Speaker 2: Please don't get me wrong, there are definitely reasons to
• 24:16
  Speaker 2: have more, but yeah, you do reach a point of
• 24:18
  Speaker 2: saturation to have your peak lifestyle and still be everything else.
• 24:24
  Speaker 2: And to me, it just feels a bit ecky because
• 24:26
  Speaker 2: I had a number of conversations during COVID and after
• 24:29
  Speaker 2: COVID with people in our community because they were being
• 24:31
  Speaker 2: asked to take pay cuts during COVID and during lockdown
• 24:35
  Speaker 2: when they knew that their executives or the bosses of
• 24:37
  Speaker 2: the business weren't taking the same pay cuts, when in
• 24:40
  Speaker 2: reality those bosses were making so much more, So it
• 24:43
  Speaker 2: kind of made sense to reduce their pay by ten
• 24:45
  Speaker 2: percent knowing what was going on. And it just makes
• 24:48
  Speaker 2: me feel a little bit weird that we're talking about
• 24:52
  Speaker 2: such wealth during a time when people are going through
• 24:55
  Speaker 2: such significant disadvantage. Gives me the eck, Like it's just
• 25:00
  Speaker 2: something that I go, oh, well, like, you know, even
• 25:02
  Speaker 2: in Australia, like we are a first world country, we
• 25:05
  Speaker 2: still have such a difference between salaries and we see
• 25:10
  Speaker 2: such differentiation in wealth creation and just access and yeah, anyway,
• 25:14
  Speaker 2: I won't I won't around too long. We can go
• 25:16
  Speaker 2: on to like money wins and confessions, but it's something
• 25:19
  Speaker 2: that really frustrates me because I just know, what, did
• 25:21
  Speaker 2: you need forty three million dollars for?
• 25:23
  Speaker 3: Yeah, well, everybody else that you will work that was
• 25:25
  Speaker 3: working for you or with you was struggling most likely.
• 25:28
  Speaker 2: And I mean I'm making these comments having absolutely no
• 25:30
  Speaker 2: idea what they've donated or done or like, I don't
• 25:33
  Speaker 2: know them personally, but it's just I guess the figures
• 25:35
  Speaker 2: of it make me feel a little bit wicky. But yeah,
• 25:39
  Speaker 2: let's lighten the mood, my friends and talk about money,
• 25:42
  Speaker 2: wins and confessions. George King, you look under prepared. What
• 25:45
  Speaker 2: have you got?
• 25:46
  Speaker 4: I just took a swig of the old matsos.
• 25:49
  Speaker 5: Yeah, called her out mid skull.
• 25:52
  Speaker 7: Apologies everyone.
• 25:54
  Speaker 4: Okay, so I got I've got two i haven't been
• 25:56
  Speaker 4: on this in ages, so I've got a lot to shit. Okay,
• 25:59
  Speaker 4: we're ready, but we don't have much time, do we
• 26:00
  Speaker 4: gonna quickly faster? So yesterday I was doing some writing
• 26:03
  Speaker 4: at home for this is a weird Oh no, no, it's
• 26:07
  Speaker 4: not a confession.
• 26:09
  Speaker 7: This is a ride.
• 26:13
  Speaker 2: Stump in our car that we just made a whole
• 26:15
  Speaker 2: heap of money.
• 26:17
  Speaker 4: So I was working at home doing some writing for
• 26:20
  Speaker 4: Soham and I got like five hours in and I
• 26:24
  Speaker 4: got a little bought no offense. I love she's on
• 26:27
  Speaker 4: the money, but I was like, I need to break
• 26:29
  Speaker 4: this up somehow. Did I go for a walk no,
• 26:32
  Speaker 4: I drove to kmart, guys, just have a.
• 26:35
  Speaker 2: Look, just have a little look.
• 26:37
  Speaker 4: I've never just looked, and I didn't just look anyway.
• 26:40
  Speaker 2: I walked out with like thirty candles only small bar.
• 26:44
  Speaker 7: That's pretty good.
• 26:45
  Speaker 4: Yeah, but like a lot of stuff I didn't need.
• 26:48
  Speaker 4: It was an expensive little lunch break. And the other
• 26:51
  Speaker 4: one was that I this is a money win great,
• 26:54
  Speaker 4: similar to what we were talking about earlier.
• 26:56
  Speaker 5: You got forty million dollars.
• 27:00
  Speaker 2: Read she's now the CEO or the CEO of c CEL.
• 27:05
  Speaker 5: No.
• 27:05
  Speaker 4: I just went to an opshop and saw a ratten ratan.
• 27:09
  Speaker 2: Yeah, we don't know if it's rotten or ratan.
• 27:11
  Speaker 4: We're not sure. I bought it for fifteen dollars and
• 27:15
  Speaker 4: I've been looking at one for like four hunds, so
• 27:18
  Speaker 4: it was.
• 27:19
  Speaker 7: It was a whole week. That's a definite monk.
• 27:20
  Speaker 4: I mean, thanks, guys, Jessica Ricci.
• 27:23
  Speaker 2: What have you got for the community this week?
• 27:25
  Speaker 8: I have a loss, although now that I'm about to
• 27:27
  Speaker 8: say it, I can't remember if I complain to you guys,
• 27:29
  Speaker 8: or if I canplain to the podcast community. So ready,
• 27:32
  Speaker 8: here we go, car park related once again. I feel
• 27:35
  Speaker 8: like all my losses are car park related. I am
• 27:38
  Speaker 8: tapped to exit the infamous car park last week, and
• 27:42
  Speaker 8: normally I've said before I don't keep money in like
• 27:44
  Speaker 8: my spending account because I am notorious for losing my wallet,
• 27:46
  Speaker 8: so I don't keep money like in my account. I
• 27:48
  Speaker 8: keep it in my savers. Anyway, tapped to exit and
• 27:52
  Speaker 8: it charged me eighty dollars for the day. Right drove
• 27:55
  Speaker 8: out fuming, thinking they've messed up again. They haven't put
• 27:58
  Speaker 8: my thing in get home home, going through my emails
• 28:01
  Speaker 8: for the day, trying to find my booking so I
• 28:03
  Speaker 8: can send a scathing email to them. Turns out I
• 28:07
  Speaker 8: forgot to book and that one's on me.
• 28:12
  Speaker 2: That is a money loss. Those are the worst kinds.
• 28:14
  Speaker 2: When you're like scathing, you're like, I'm going to remediate this,
• 28:17
  Speaker 2: this will be fine, and then you're like, oh, that
• 28:19
  Speaker 2: was me.
• 28:19
  Speaker 7: I have to pay the actual money because it's my fault.
• 28:23
  Speaker 3: I can't even yell at anyone about it.
• 28:25
  Speaker 2: Oh tony, what have you got?
• 28:28
  Speaker 3: My boyfriend and I are moving house next week, a
• 28:31
  Speaker 3: week from today, which.
• 28:32
  Speaker 2: Is very exciting, so very exciting. A new house has
• 28:35
  Speaker 2: a bath.
• 28:35
  Speaker 3: Yes, I'm very very excited about it. So we've been
• 28:38
  Speaker 3: shopping around like our power and internet and all of that,
• 28:41
  Speaker 3: and our internet is going to be twenty dollars cheaper.
• 28:45
  Speaker 3: Ahma yep, and way better and faster apparently according to Torbs.
• 28:51
  Speaker 3: I don't know what a gigabit is, but apparently way better,
• 28:55
  Speaker 3: way cheaper.
• 28:56
  Speaker 2: Very exciting, Thanks good money. Win's so good, Ryan? What
• 29:01
  Speaker 2: have you got?
• 29:01
  Speaker 6: What you got?
• 29:02
  Speaker 5: I've achieved an impossible mission after seven months, fourteen emails,
• 29:09
  Speaker 5: I am no longer a member of any Time Fitness.
• 29:15
  Speaker 7: Did they refund the money?
• 29:18
  Speaker 5: Hopefully will be next week's win, but just one small
• 29:20
  Speaker 5: step at a time. But they're like, oh, we'll let
• 29:22
  Speaker 5: you out of your membership. But now I'm like, thank you.
• 29:26
  Speaker 5: But they have my fixed term contract ended in February,
• 29:30
  Speaker 5: and they've taken money out every single fortnight and I've
• 29:32
  Speaker 5: said I do not use your gym. I do not
• 29:35
  Speaker 5: wish to keep paying, and they went, yep, cool, and
• 29:37
  Speaker 5: they just keep taking money out for six months. So
• 29:40
  Speaker 5: we'll see if we got a refund. But first step
• 29:42
  Speaker 5: completed very.
• 29:44
  Speaker 2: Well, that's been a long journey, very very impressive. V.
• 29:48
  Speaker 5: Let's finish with you, okay, I have a.
• 29:50
  Speaker 2: Really wholesome money win. Are you ready, buckle up. If
• 29:54
  Speaker 2: you follow me on Instagram, you already saw this, so
• 29:56
  Speaker 2: just tune out now you won't learn anything.
• 29:58
  Speaker 5: See next week.
• 30:00
  Speaker 2: I have cumquat trees in my front garden and I
• 30:05
  Speaker 2: really like them, but I never know what to do
• 30:06
  Speaker 2: with cum quats. And I've asked a million people and
• 30:08
  Speaker 2: they also jam, right, great, I'm not going to do it,
• 30:11
  Speaker 2: like sounds cute, too.
• 30:13
  Speaker 3: Hard, basket to sterilize all the jars, et cetera, just
• 30:16
  Speaker 3: sounds like a slog.
• 30:17
  Speaker 5: Right.
• 30:17
  Speaker 2: So one Saturday morning, a couple of weeks ago, an
• 30:20
  Speaker 2: older gentleman came and knocked on our front door on
• 30:22
  Speaker 2: ads sidy.
• 30:23
  Speaker 7: And what are you doing?
• 30:24
  Speaker 2: I still don't have any pants on. So I'm running
• 30:26
  Speaker 2: at the front door and he's like, oh, hi, sorry,
• 30:29
  Speaker 2: my name is Steve. My partner's name is Steve Real wholesome.
• 30:33
  Speaker 2: Can I steal some of your cum quats from your tree?
• 30:36
  Speaker 6: Oh my god? Was it Steve from the future.
• 30:40
  Speaker 2: Unless Steve got much taller, No, it wasn't. And I
• 30:46
  Speaker 2: was like, oh, of course, like go for it. And
• 30:49
  Speaker 2: he's like, I'm gonna make jam my wife and I like,
• 30:50
  Speaker 2: we love cum quat, jam We saw your cum quats
• 30:52
  Speaker 2: and of course go and last weekend went out to
• 30:57
  Speaker 2: my mailbox. There was a a big jar of comcoat
• 31:01
  Speaker 2: jam in my mailbox, such a cute note being like
• 31:06
  Speaker 2: enjoy it and it's all dated and honestly so wholesome.
• 31:10
  Speaker 6: So that's real neighborhood vibes.
• 31:12
  Speaker 2: Yeah, Like it was just really sweet and I was like, oh,
• 31:15
  Speaker 2: people still do this, Like anyway, that's my money. Wh
• 31:18
  Speaker 2: I got free jam?
• 31:19
  Speaker 7: How was the jam tasting?
• 31:20
  Speaker 2: It was so good.
• 31:22
  Speaker 5: You've changed a june You're very anti jam making about
• 31:24
  Speaker 5: thirty seconds ago making? Yeah, hey if I were, because
• 31:31
  Speaker 5: it sounds really great if I were to grow one
• 31:33
  Speaker 5: of those from scratch. Hold I start, Are you doing.
• 31:36
  Speaker 6: A job.
• 31:39
  Speaker 2: From Oh no, I think we are done here, guys.
• 31:47
  Speaker 2: So just before we head off, we'd like to acknowledge
• 31:49
  Speaker 2: and pay respect to Australia's Aboriginal and Torres Strait Islander people's.
• 31:54
  Speaker 2: They're the traditional custodians at the lands, the waterways and
• 31:57
  Speaker 2: the skies all across Australia. Thank you for sharing and
• 32:01
  Speaker 2: caring for the land on which we are able to learn.
• 32:03
  Speaker 2: We pay respects to elders past and present, and we
• 32:06
  Speaker 2: share our friendship and our kindness.
• 32:08
  Speaker 4: The advice shared on She's on the Money is general
• 32:10
  Speaker 4: in nature and does not consider your individual circumstances. She's
• 32:14
  Speaker 4: on the Money exists purely for educational purposes and should
• 32:17
  Speaker 4: not be relied upon to make an investment or a
• 32:19
  Speaker 4: financial decision, and we promise. Victoria Divine is an authorized
• 32:23
  Speaker 4: representative of Australia Pacific Funds Management Proprietary Limited ABN three
• 32:29
  Speaker 4: four one three two four six three two five seven
• 32:31
  Speaker 4: AFSL three through nine one five one So good at
• 32:35
  Speaker 2: That, J King, very good taking bye bye bye