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Is Crypto a Goldmine or a Gamble? And The Smartest Way to Use Your Spare Cash · She's On The Money

• 0:00
  Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
• 0:03
  Speaker 1: woman and I'm here to acknowledge country t Glenn Young
• 0:07
  Speaker 1: Ganya Niana, kaka ya Ya bin Ahaka nian Ar gay
• 0:11
  Speaker 1: In Mbina yakarum jar doumayama Umagahawakaman damon imlan Wumba bang
• 0:17
  Speaker 1: Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
• 0:22
  Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
• 0:26
  Speaker 1: We thank acknowledge and respect the Aberiginal people's land that
• 0:29
  Speaker 1: we're gathering on today. Take pleasure in all the land
• 0:32
  Speaker 1: and respect all that you see. She's on the Money
• 0:35
  Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,
• 0:42
  Speaker 1: knowledge and resources for you to thrive.
• 0:45
  Speaker 2: She's on the Money. She's on the Money.
• 1:07
  Speaker 3: Hello, and welcome to Black Friday.
• 1:10
  Speaker 4: I mean, she's on the Money, the podcast that makes
• 1:12
  Speaker 4: personal finance fun, especially on Fridays. It is our favorite
• 1:17
  Speaker 4: day of the week because we get you and our
• 1:19
  Speaker 4: little team together and we get to celebrate our community.
• 1:22
  Speaker 4: Miss Jess Gildery she's here and she's sharing our favorite
• 1:24
  Speaker 4: money wins. Miss Beck say ed has a number of
• 1:27
  Speaker 4: different broke tips that she guarantees me are not stolen
• 1:30
  Speaker 4: from miss This week, we're going to be helping to
• 1:33
  Speaker 4: answer a money dilemma that's all about what to do
• 1:35
  Speaker 4: with the spare money after paying off a loan it's
• 1:39
  Speaker 4: not spare money, but okay, and something that you slid
• 1:42
  Speaker 4: into our dms about how do you handle a partner
• 1:45
  Speaker 4: who's currently knees deep in crypto talk.
• 1:49
  Speaker 3: Oh, I think that's gonna be really funny.
• 1:54
  Speaker 4: But before we get there, because we're quite self absorbed,
• 1:58
  Speaker 4: would you like to hear a five star review to
• 2:01
  Speaker 4: set the tone?
• 2:02
  Speaker 5: Yes?
• 2:02
  Speaker 4: Lead all right, so this one is from Morgan, and
• 2:05
  Speaker 4: Morgan says, I've been an avid listener of this podcast
• 2:09
  Speaker 4: for over five years.
• 2:10
  Speaker 5: Wow.
• 2:11
  Speaker 4: Does that not blow your mind that we've been doing
• 2:12
  Speaker 4: this small than five years? Yeah, I want to talk
• 2:14
  Speaker 4: about how much old around No g. I just want
• 2:17
  Speaker 4: to say a huge thank you to Victoria jesse Beck
• 2:20
  Speaker 4: and the whole She's on the.
• 2:21
  Speaker 3: Money team for completely transforming my money mindset.
• 2:25
  Speaker 4: I went from six thousand dollars in debt after a
• 2:28
  Speaker 4: Mexico troop with zero savings to having get this sit
• 2:32
  Speaker 4: down over fifty thousand dollars invested in ATFS under superbalance,
• 2:36
  Speaker 4: well above the average for my age thanks to your advice.
• 2:39
  Speaker 5: Oh my god.
• 2:40
  Speaker 4: I grew up with an abundance mindset and never felt
• 2:43
  Speaker 4: I went without.
• 2:44
  Speaker 3: But I saw the other side through my dad.
• 2:46
  Speaker 4: Now tens of thousands of dollars in credit card debt,
• 2:49
  Speaker 4: who was forced to sell his fancy luxury car and
• 2:52
  Speaker 4: move in with his ninety six year old mum with
• 2:55
  Speaker 4: nothing to his name.
• 2:56
  Speaker 3: That really hit hard.
• 2:58
  Speaker 4: Thanks to your podcast, I now truly value the importance
• 3:00
  Speaker 4: of looking after future me. You've changed my life and
• 3:03
  Speaker 4: I will be a loyal listener forever. It literally is
• 3:06
  Speaker 4: the highlight of my week. Love Morgan, Oh my god,
• 3:10
  Speaker 4: that's a.
• 3:11
  Speaker 3: Really beautiful Sorry, fifty thousand dollars.
• 3:14
  Speaker 6: I know, that's incredible.
• 3:17
  Speaker 3: What do you mean.
• 3:18
  Speaker 4: I'm so excited for you, but just so proud that
• 3:21
  Speaker 4: you're in our little community and you're like, I'm not leaving.
• 3:23
  Speaker 7: Yeah, thanks for hanging around more money.
• 3:27
  Speaker 3: To give me some advice, I think, Morgan, what a
• 3:30
  Speaker 3: little icon. No, and you're on the right track. You've
• 3:33
  Speaker 3: started dishing out your own advice. We don't even need it.
• 3:36
  Speaker 6: Well, you know, that's just me give my two cents
• 3:38
  Speaker 6: where it's not needed.
• 3:39
  Speaker 4: No, we love it, always, always, and we'll get your
• 3:43
  Speaker 4: broke tips in a hot second. But before we get
• 3:45
  Speaker 4: to your advice and your tips and your tricks and
• 3:46
  Speaker 4: your broke stuff, Beck, would you like to hear the
• 3:49
  Speaker 4: question of the week? Yeah, yes, please, I'm excited because
• 3:51
  Speaker 4: it is definitely now time for our favorite part of
• 3:54
  Speaker 4: the Friday Drinks episode, where you guys get to ask
• 3:57
  Speaker 4: us one question that you are dying to know. It
• 4:00
  Speaker 4: can be literally about anything, even this one that is
• 4:02
  Speaker 4: I guess perfect for Black Friday, which is today. From Emily,
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  Speaker 4: who has asked what is on your fun wish list
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  Speaker 4: this week?
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  Speaker 3: Team?
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  Speaker 5: I think everyone knows what's already. I haven't shut up
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  Speaker 5: about it.
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  Speaker 6: What is it?
• 4:15
  Speaker 5: I really want the ninja creamy she really wants.
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  Speaker 3: We didn't worry that you give me.
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  Speaker 5: I'm keeping an eye out.
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  Speaker 7: I tell you what that's been on my list, and
• 4:26
  Speaker 7: I'm the hunting for the best you.
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  Speaker 8: It was so fun to do, like you know those
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  Speaker 8: old school pizza hut I have the soft self serve
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  Speaker 8: bar well.
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  Speaker 7: Victoria has one and making all kinds of really fun
• 4:38
  Speaker 7: things with it.
• 4:39
  Speaker 4: I would just like to point out, and I feel
• 4:41
  Speaker 4: like it's important that I pointed out to you that
• 4:43
  Speaker 4: that was gifted to me from Ninja. Yes, I didn't
• 4:46
  Speaker 4: purchase it, it was on my wish list and Jess's
• 4:49
  Speaker 4: wish list and then they were like, we've sent it
• 4:51
  Speaker 4: to you and I felt spoiled.
• 4:53
  Speaker 3: But guys, we have yourt at home now.
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  Speaker 6: That's so cool.
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  Speaker 3: It's on my wish list too. If Ninja's listening, sorry,
• 5:02
  Speaker 3: we're not that deep.
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  Speaker 7: If I'm trying to God deal us any of the link,
• 5:05
  Speaker 7: thank you, Thank you so much.
• 5:07
  Speaker 5: What's on your wish list?
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  Speaker 8: Look, I know it's so silly because it's a wish list,
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  Speaker 8: it's essentials list, babs. But I'm not like I because
• 5:17
  Speaker 8: personally I'm not like I don't really care about things,
• 5:20
  Speaker 8: but I always want to buy my girlfriend things. And
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  Speaker 8: there's so many things on her wish lists that are
• 5:26
  Speaker 8: also in mind color laid law pants. I don't know
• 5:29
  Speaker 8: if anyone is familiar. It's like a Melbourne artist. I
• 5:31
  Speaker 8: didn't know if she's doing Black Friday please she is, well,
• 5:35
  Speaker 8: I'm well sure she has to go check coffee machine.
• 5:37
  Speaker 8: She wants a coffee machine. God, she wants so many things.
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  Speaker 8: So these I think things that make life more convenient
• 5:43
  Speaker 8: on the wish list, but for myself personally, honestly, probably
• 5:47
  Speaker 8: just like new Google Pixel ten Pro Excel, just quick
• 5:51
  Speaker 8: and easy, thousand dollars.
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  Speaker 5: And I feel like stuff like that doesn't really go
• 5:55
  Speaker 5: on Black Friday.
• 5:56
  Speaker 8: It's sad anyway. If it does, it's like it's nineteen dollars. Yeah,
• 6:00
  Speaker 8: it's still there expensive, So nothing crazy for Mesh.
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  Speaker 3: I've actually just opened my list.
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  Speaker 4: I have a note section in my app and I
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  Speaker 4: have to put all of the stuff in there, so
• 6:13
  Speaker 4: it's not just one thing. I'll just read you out
• 6:15
  Speaker 4: my list of things that I've decided I want. These
• 6:18
  Speaker 4: are just wants. I will probably forget about these things.
• 6:21
  Speaker 4: But I did laugh because they're also just I don't know,
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  Speaker 4: not over consumption y, but like I'm clearly very easily
• 6:28
  Speaker 4: influenced by the Internet, and that's what my list is
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  Speaker 4: telling me. So the first thing on my wish list
• 6:33
  Speaker 4: are the Baraler wrist weights.
• 6:35
  Speaker 5: Oh yes, made you beautiful there.
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  Speaker 4: So I'm going to put them on my Christmas list
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  Speaker 4: because I just think that I would use them, and like,
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  Speaker 4: I don't know, ankle weights or like wrist waits.
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  Speaker 3: I just think that's really cool.
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  Speaker 4: And I'm being influenced by these girls doing the arm
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  Speaker 4: workouts on TikTok for their weddings. I'm not getting married,
• 6:54
  Speaker 4: but like their arms look good. The next thing I
• 6:57
  Speaker 4: have is I really want another rainbow bracelet. So I'm
• 7:01
  Speaker 4: not wearing it today, but I usually wear a rainbow bracelet,
• 7:04
  Speaker 4: but it is made of ceramic and I have been
• 7:08
  Speaker 4: chipping it and so I don't know what that bracelet
• 7:11
  Speaker 4: is going to look like. But I told my husband, like, oh,
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  Speaker 4: I think I want a rainbow bracelet for Christmas that
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  Speaker 4: I could wear every day without it getting damaged.
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  Speaker 3: I really want. This is so lame. I really want
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  Speaker 3: the pottery barn candy cane shaped cushion for Christmas.
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  Speaker 8: Cool.
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  Speaker 5: I've been keeping my eye at it for you too.
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  Speaker 3: Yep, that's really lame.
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  Speaker 4: And the other thing that is on my list, which
• 7:33
  Speaker 4: I think is a bougie thing, is the Mason Balzac balsamic,
• 7:38
  Speaker 4: like the Bolsamic oil or the Bolsamic bottle. Yeah, because
• 7:42
  Speaker 4: I have the olive oil bottle from them, and then
• 7:45
  Speaker 4: for my birthday, I was gifted the chili oil bottle
• 7:48
  Speaker 4: and they've just come out with a balsamic bottle?
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  Speaker 5: What is this like dark.
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  Speaker 3: Dark brown or like a dark red kind of olive
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  Speaker 3: on the outside, similar to my green olive bottle.
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  Speaker 4: And it's slightly small. And I just thought the three
• 8:01
  Speaker 4: of them sitted nests from my kitchen. But that is
• 8:04
  Speaker 4: currently what is on my little wish list. Whether I
• 8:07
  Speaker 4: end up getting them or not even bothering, that's what
• 8:10
  Speaker 4: I'll be referring to. Gorgeous come like Christmas time, I think, yes,
• 8:14
  Speaker 4: we'd like a bottle for my balsamic. Can I also
• 8:17
  Speaker 4: have a wrist weight?
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  Speaker 5: Some question? I liked that one.
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  Speaker 6: Yeah, I like that one.
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  Speaker 3: Yeah, it's like a wish list, but I think that
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  Speaker 3: it's smart to keep it like a written list, a
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  Speaker 3: physical yes.
• 8:26
  Speaker 4: And if anyone ever asks me, like my husband, what
• 8:28
  Speaker 4: do you want for Christmas? I can be like, look,
• 8:29
  Speaker 4: here's a list of things that I've been looking at
• 8:31
  Speaker 4: that I would feel spoilt if I got, but are
• 8:35
  Speaker 4: also non essentials, because I feel like the older you get,
• 8:37
  Speaker 4: the longer you've been married, the more I'm like, you
• 8:40
  Speaker 4: really should get another robo back for the house. It's
• 8:43
  Speaker 4: like that our joint Christmas present. And so these are
• 8:45
  Speaker 4: things that are exclusively for.
• 8:47
  Speaker 5: Me, as they should be exactly Soluly.
• 8:49
  Speaker 4: Now, would you guys like to hear Jesse cheese, money,
• 8:53
  Speaker 4: wins and confessions from the community, please.
• 8:55
  Speaker 7: I hope everyone in the car is yelling yes right
• 8:57
  Speaker 7: now because they're Firstly, this week got money in from Claire.
• 9:01
  Speaker 7: She said money and hyperactive adhd win. She went down
• 9:04
  Speaker 7: a Bunnings DIY tutorial rabbit hole and saved herself multiple
• 9:09
  Speaker 7: thousands of dollars based on earlier quotes she'd received by
• 9:12
  Speaker 7: building herself an internal non weight bearing wall, which basically
• 9:18
  Speaker 7: gave her an extra bedroom in her core. She also
• 9:21
  Speaker 7: made an installed new kitchen.
• 9:23
  Speaker 5: Bench shops as well.
• 9:24
  Speaker 7: She the only downside is she's now become obsessed with
• 9:26
  Speaker 7: power tools and has a list of ones that she
• 9:28
  Speaker 7: would like to add to her collection, and has managed
• 9:31
  Speaker 7: to almost sand off her fingernails a couple of times.
• 9:33
  Speaker 7: Gorgeous Little DII moment incredible. Next, I've got eight money
• 9:38
  Speaker 7: went from Christy, who said her grocery order got canceled
• 9:41
  Speaker 7: last minute due to her blackout, so they gave her
• 9:42
  Speaker 7: a forty dollars bonus.
• 9:44
  Speaker 5: For the inconvenience.
• 9:45
  Speaker 7: She wasn't in a rush, so she just reordered it
• 9:47
  Speaker 7: for the next day, used her monthly ten percent off,
• 9:49
  Speaker 7: and then got.
• 9:50
  Speaker 5: Forty bucks off as well.
• 9:51
  Speaker 6: Beautiful.
• 9:52
  Speaker 7: Next from Hayley, she said she welcomed her second baby,
• 9:55
  Speaker 7: another boy, with a birthday five days after his brothers.
• 9:59
  Speaker 5: Oh cute, congratulations.
• 10:01
  Speaker 4: So when it's not on the same day, like I'd
• 10:03
  Speaker 4: be so anxious that the kids would have to share.
• 10:05
  Speaker 7: Literally, But the money win is she's got no need
• 10:07
  Speaker 7: to buy a whole new set of clothes because it's
• 10:08
  Speaker 7: the same gender in time.
• 10:09
  Speaker 3: If oh, that is the dream, how do I plan
• 10:12
  Speaker 3: that for me?
• 10:13
  Speaker 5: My congratulations Haley.
• 10:14
  Speaker 7: Next, I've got money win from Dana, who said she
• 10:16
  Speaker 7: went to check how much wrapping paper, gift bags, name tags,
• 10:20
  Speaker 7: et cetera. She had because she's starting to prep her
• 10:22
  Speaker 7: Christmas budget. Well done, queen. She went into the cupboards
• 10:25
  Speaker 7: and found four rolls of half used wrapping paper, one
• 10:28
  Speaker 7: of them which was brand you not even used, five
• 10:30
  Speaker 7: packs of name tags, five gift bags, a bunch of
• 10:32
  Speaker 7: ribbon bows, and tissue paper. She said her Christmas wrapping
• 10:36
  Speaker 7: is all sorted for this year and probably next year
• 10:38
  Speaker 7: as well, and I just want to remind everyone I
• 10:41
  Speaker 7: feel like these are the things that we shov in
• 10:42
  Speaker 7: our cubin and forget about. You probably have wrapping paper
• 10:45
  Speaker 7: at home, so go looking for it now so you
• 10:47
  Speaker 7: know if she'll last men at a Christmas scram.
• 10:48
  Speaker 4: Or you could do the Victoria Devine special and just
• 10:51
  Speaker 4: buy the big roll of brown craft paper from office works.
• 10:55
  Speaker 4: You get like thirty meters I think for maybe twelve dollars. Brilliant,
• 11:00
  Speaker 4: and that is my wrapping paper.
• 11:01
  Speaker 9: Yeah.
• 11:01
  Speaker 4: Sometimes I'll draw cute designs on the outside and then
• 11:04
  Speaker 4: wrap it. Sometimes I'll use different bows. But like you
• 11:07
  Speaker 4: get a present from me, probably in brown wrapping paper, and.
• 11:09
  Speaker 5: It looks so beautiful.
• 11:10
  Speaker 8: You could use any thing as wrapping paper too, you
• 11:13
  Speaker 8: literally can I need to be prepared formally?
• 11:15
  Speaker 4: Yeah, true, I just feel I need to be prepared.
• 11:18
  Speaker 4: But that's okay, Yes.
• 11:19
  Speaker 5: I'm the same.
• 11:19
  Speaker 7: And then last of this week, I've got a money
• 11:20
  Speaker 7: in form Niche She said they're buying cotton, wool, linen,
• 11:24
  Speaker 7: hemp and natural materials only now, so they're getting rid
• 11:27
  Speaker 7: of all of the polyester and stuff in their closet.
• 11:29
  Speaker 7: And they found a bunch of one hundred percent cotton
• 11:31
  Speaker 7: tops at Best and Less for six dollars.
• 11:34
  Speaker 5: And a couple of them were even down to two bucks.
• 11:36
  Speaker 4: I will say, I've been looking for one hundred percent
• 11:40
  Speaker 4: like organic active wear.
• 11:42
  Speaker 5: I've never thought about that.
• 11:43
  Speaker 3: I can't find it. Yeah, like one hundred percent cotton
• 11:47
  Speaker 3: or like whatever.
• 11:47
  Speaker 5: I wonder if that's for the moisture wicked.
• 11:50
  Speaker 4: It totally yes, And the more I got into it,
• 11:52
  Speaker 4: I was like, oh, I want their gings that you
• 11:54
  Speaker 4: know are better for me.
• 11:55
  Speaker 3: Can't find it.
• 11:56
  Speaker 4: So if anybody knows, please slide into my DMS, because yeah,
• 11:59
  Speaker 4: but you're gonna work.
• 12:00
  Speaker 3: Out in linen. You know what I mean.
• 12:02
  Speaker 4: It's it's not just clothing, it's like active where specifically
• 12:06
  Speaker 4: because a lot of them are like polyester or like
• 12:08
  Speaker 4: lycra or whatever. Anyway, I don't know much about much,
• 12:11
  Speaker 4: but I do know that I wasn't successful in my quest.
• 12:14
  Speaker 6: She knows much about that.
• 12:15
  Speaker 3: Miss Beck say ed, what have you got when it
• 12:17
  Speaker 3: comes to broke tips?
• 12:18
  Speaker 8: Okay, So this first one comes from Krly, who says,
• 12:22
  Speaker 8: every time I'm using one of those sheet base masks,
• 12:24
  Speaker 8: I always keep the leftover seerum and use it two
• 12:26
  Speaker 8: or three more times.
• 12:28
  Speaker 6: But even dunk the mask back in, it's just been
• 12:30
  Speaker 6: on your face.
• 12:31
  Speaker 4: So we foster Blake said that because she has like
• 12:33
  Speaker 4: with go to make sure that you don't waste the
• 12:36
  Speaker 4: serum in the bottom of the thing. So whenever I
• 12:38
  Speaker 4: finish a sheet mask, now I like dip my fingers
• 12:41
  Speaker 4: in and like make sure I rubb all the serum in.
• 12:42
  Speaker 6: Totally.
• 12:43
  Speaker 8: You could just get like even I know what those
• 12:45
  Speaker 8: masks are made out of, you could get something similar.
• 12:47
  Speaker 7: You can buy silicon ones from some slices, easy to clean,
• 12:51
  Speaker 7: and then you put it in whatever leftover serum you have.
• 12:54
  Speaker 3: It's slightly lazy, so I will be just using my
• 12:56
  Speaker 3: fingers until the serum is not in the Thank you.
• 12:59
  Speaker 6: Also you also do that.
• 13:00
  Speaker 3: Absolutely, you guys are too crafty.
• 13:03
  Speaker 8: This next one comes from Madison, who says keep cashing
• 13:06
  Speaker 8: your wallet to avoid getting stung by cards surcharges. I
• 13:09
  Speaker 8: saw a surcharge that was nearly five percent recently. I
• 13:12
  Speaker 8: think that's a great idea because you don't have to
• 13:14
  Speaker 8: use it all the time. But if you do find
• 13:16
  Speaker 8: a place that is like really crazy with this surcharges
• 13:19
  Speaker 8: and you're like, well, I've got the cash for that,
• 13:21
  Speaker 8: and then yeah, you don't have to really, that's actually
• 13:24
  Speaker 8: so clever, So thank you medicine.
• 13:26
  Speaker 4: But see, I love that, but I don't think that
• 13:29
  Speaker 4: would work for me as a broke tip because in
• 13:31
  Speaker 4: my head, if I have cash in my wallet, that
• 13:33
  Speaker 4: is free money.
• 13:33
  Speaker 6: Yeah true.
• 13:35
  Speaker 3: I literally go, that's not real. That's cash. Yeah, like
• 13:39
  Speaker 3: that's the dumbest thing in the entire world.
• 13:40
  Speaker 4: But like literally five twenty dollars and then I spend
• 13:43
  Speaker 4: that twenty dollars on lunch. In my head, lunch was free.
• 13:45
  Speaker 4: Do not take financial advice from me always, but that
• 13:49
  Speaker 4: is so much. It is a lot of that's wild.
• 13:51
  Speaker 4: That's taking the mickey.
• 13:52
  Speaker 8: Yeah, you could be spending that twenty dollars on lunch
• 13:55
  Speaker 8: and then also not even realizing you're avoiding seur charge
• 13:58
  Speaker 8: as well. True, So free money and free money. Now
• 14:01
  Speaker 8: this one comes from myself, but also my mum. He
• 14:04
  Speaker 8: always has some kooky things. I do think this one works, though.
• 14:08
  Speaker 8: So she's Becky Beg you gotta put coppery Becky. That's
• 14:14
  Speaker 8: so hard, that's so funny. I know, I guess we haven't.
• 14:19
  Speaker 8: I want to know what you guys get called by
• 14:21
  Speaker 8: your family.
• 14:21
  Speaker 3: Tory.
• 14:22
  Speaker 6: Oh Tory.
• 14:23
  Speaker 3: My whole family called me Tory.
• 14:24
  Speaker 8: I would never ever have thought it's so strange, Like
• 14:28
  Speaker 8: it's strange.
• 14:29
  Speaker 4: I think Jess was like on another planet or something
• 14:31
  Speaker 4: when she met my family and they were.
• 14:33
  Speaker 3: Like, oh, yeah, how's Tory treating you? She's like.
• 14:37
  Speaker 6: Boyfriend.
• 14:38
  Speaker 4: Yeah, because everybody calls me in like my work life
• 14:41
  Speaker 4: and anyone that met me post school it's the wow.
• 14:47
  Speaker 4: And anyone that knows me prior to the end of
• 14:50
  Speaker 4: year twelve or knew me, well it's Tory.
• 14:53
  Speaker 6: That's crazy.
• 14:54
  Speaker 4: Yeah, but it doesn't like it's crazy because in this setting,
• 14:57
  Speaker 4: Tory feels so strange.
• 14:59
  Speaker 5: It does.
• 15:00
  Speaker 3: My dad called me anything other than Tory, I would
• 15:04
  Speaker 3: be like, what are we doing?
• 15:06
  Speaker 8: Yeah, oh my god, that is crazy, it's wild.
• 15:09
  Speaker 5: Oh my god, what about you?
• 15:10
  Speaker 7: I just go by dress everywhere, just easy.
• 15:14
  Speaker 6: Easy, easy.
• 15:15
  Speaker 8: Well I can't even remember how he's not talking about that.
• 15:18
  Speaker 3: But now, what's your mum's tip.
• 15:19
  Speaker 8: Yes, my mom's tip is that she says that if
• 15:22
  Speaker 8: your plants are struggling, or if you're just wanting to
• 15:24
  Speaker 8: I guess like boost or like, you know, help them thrive,
• 15:28
  Speaker 8: you just chuck a bit of copper in the soil.
• 15:30
  Speaker 8: Apparently copper.
• 15:32
  Speaker 5: Yeah, and you can get this.
• 15:33
  Speaker 8: Like two literally, it's two dollars from buddings. You just
• 15:35
  Speaker 8: get like whatever kind of copper. Sometimes you get those
• 15:37
  Speaker 8: little like taps that have four taps, but the copper. Yeah,
• 15:40
  Speaker 8: chuck them in there, whatever thing you find them. Copper
• 15:43
  Speaker 8: doesn't matter what it is for. Put it in the pot,
• 15:45
  Speaker 8: put it in the soil, and your plants will thrive.
• 15:48
  Speaker 5: You go. I my very game one stairs. That's my
• 15:52
  Speaker 5: favorite favor cop.
• 15:58
  Speaker 3: Do you remember the It was on the in joke,
• 16:01
  Speaker 3: it was not in the podcast.
• 16:02
  Speaker 5: You were here.
• 16:03
  Speaker 4: It doesn't mean I was mentally presents. I'm physically present,
• 16:07
  Speaker 4: mentally not here.
• 16:08
  Speaker 7: I was telling beck about my variegated Monsterra and she said,
• 16:11
  Speaker 7: you're very gay, Moe Sterra.
• 16:15
  Speaker 3: I reckon, my monster is gay.
• 16:17
  Speaker 6: She's thriving, very gay.
• 16:19
  Speaker 5: I think every time I think so sweet, I'm going
• 16:24
  Speaker 5: to put some copper in the pot.
• 16:25
  Speaker 3: Report Matt. Yeah, with your very gay one Stera.
• 16:28
  Speaker 4: Tell her.
• 16:28
  Speaker 6: I said, hi, And that's all this week.
• 16:33
  Speaker 3: I love that. That is a good place to leave it.
• 16:35
  Speaker 4: Let's go to a really quick break because on the Flips,
• 16:37
  Speaker 4: I'm going to be answering a money dilemma, which is
• 16:39
  Speaker 4: all about what to do with the spare money that
• 16:41
  Speaker 4: you have after paying off your loan and something you
• 16:43
  Speaker 4: slid into our dms about cannot wait for this one?
• 16:46
  Speaker 4: How do you handle a partner who's currently deep in
• 16:48
  Speaker 4: cryptotok guys, don't go anywhere.
• 16:55
  Speaker 7: Welcome back, everybody. Let's take a listen to this week's
• 16:58
  Speaker 7: money dilemma.
• 17:01
  Speaker 10: Hi, there, have you got a money dilemma you just
• 17:03
  Speaker 10: can't solve That. She's on the Money team is here
• 17:06
  Speaker 10: to help. Every week, we tackle your dilemmas, both big
• 17:09
  Speaker 10: and small, to answer your most burning money, career and
• 17:12
  Speaker 10: life questions. To get involved, simply head to our website
• 17:15
  Speaker 10: and leave us a short voice recording and you might
• 17:17
  Speaker 10: just find yourself on the show. Now, let's take a
• 17:20
  Speaker 10: listen to this week's money dilemma.
• 17:24
  Speaker 9: Hi, She's on the money. I'm about to finish off
• 17:27
  Speaker 9: paying my twenty thousand dollars car loan, and that means
• 17:30
  Speaker 9: I'm going to have anywhere from one thousand to fifteen
• 17:33
  Speaker 9: hundred dollars per week to either save or invest. Now
• 17:37
  Speaker 9: I'm wondering what I should be doing, whether I should
• 17:39
  Speaker 9: be talking investments or whether I should be keeping it
• 17:42
  Speaker 9: out on the side to start saving for a home.
• 17:46
  Speaker 9: I'm not really sure because both of them are kind
• 17:48
  Speaker 9: of a priority to me.
• 17:49
  Speaker 5: Thank you.
• 17:50
  Speaker 3: What the heck?
• 17:51
  Speaker 5: A week?
• 17:52
  Speaker 3: A week?
• 17:53
  Speaker 5: That's crazy?
• 17:54
  Speaker 3: A week, yeah, sh'd say week clearest day. Yeah, but
• 17:58
  Speaker 3: even if that was a month, that would be a lot.
• 18:02
  Speaker 6: That's wild.
• 18:03
  Speaker 4: Was a year, girlfriend, you are going to achieve a
• 18:06
  Speaker 4: lot for thousand dollars a week?
• 18:08
  Speaker 3: Is fifty two thousand dollars a year?
• 18:10
  Speaker 6: Like, yeah, what the heck?
• 18:11
  Speaker 3: In very proud of you.
• 18:13
  Speaker 4: Yeah, that's so you need to work out your priorities
• 18:16
  Speaker 4: because coming to me and saying do I save or invest?
• 18:19
  Speaker 3: I wish I could answer that damn question, But.
• 18:22
  Speaker 4: That actually comes down to your values and your priorities
• 18:24
  Speaker 4: and when you want to achieve these things, because I
• 18:27
  Speaker 4: would actually get in a lot of legal trouble if
• 18:29
  Speaker 4: I told you the answer that I believe.
• 18:31
  Speaker 3: And it's not because.
• 18:33
  Speaker 4: Well obviously, it's because it would be illegal for me
• 18:35
  Speaker 4: to give financial advice without taking into consideration your whole situation.
• 18:39
  Speaker 4: But the problem I have here is you said should
• 18:41
  Speaker 4: I invest or should I be saving for a house?
• 18:43
  Speaker 4: Both of these things are a priority. I need you
• 18:45
  Speaker 4: to zoom out. I need you to sit down and
• 18:48
  Speaker 4: work out. Okay, you've set a home as a priority.
• 18:51
  Speaker 4: We know how to save for a home. What is
• 18:54
  Speaker 4: your timeline? When did you want to purchase? Do you
• 18:56
  Speaker 4: know how much you want to purchase for? Do you
• 18:58
  Speaker 4: know how much of a house to posit you actually
• 19:00
  Speaker 4: want to have. If you're saying, oh, v I'd love
• 19:02
  Speaker 4: to purchase by the end of the year, that is
• 19:04
  Speaker 4: a different story. Then yeah, a house is a really
• 19:06
  Speaker 4: big priority for me five years from now, because at
• 19:10
  Speaker 4: that point, maybe you're not as aggressively saving for that goal.
• 19:14
  Speaker 3: You are splitting the money across two different priorities. Or
• 19:18
  Speaker 3: you might say, oh, buying a home.
• 19:20
  Speaker 4: I'm you didn't say how old you were, Maybe you
• 19:22
  Speaker 4: were nineteen, I don't know, And you go, well, I
• 19:24
  Speaker 4: want to own a home by the time I'm thirty,
• 19:26
  Speaker 4: And again that's a completely different strategy. Again, so this
• 19:30
  Speaker 4: is why I can't answer directly the question of should
• 19:32
  Speaker 4: I save or invest? But we can do the maths
• 19:36
  Speaker 4: and go, okay, let's look at our values and our priorities.
• 19:38
  Speaker 4: But then we can also look at interest rates and
• 19:41
  Speaker 4: rate of return on an investment portfolio, Like, you know,
• 19:45
  Speaker 4: are you going to get the same returns in property
• 19:47
  Speaker 4: as you might in the share market? Literally you are not.
• 19:50
  Speaker 4: But returns aren't the only reason we make decisions, are they?
• 19:54
  Speaker 4: So Beck, what would you do if you came into
• 19:58
  Speaker 4: a one thousand dollars a week and you not allowed
• 20:00
  Speaker 4: to blow it, you have to save or invest it.
• 20:03
  Speaker 3: How would you personally split that?
• 20:05
  Speaker 6: That's crazy?
• 20:06
  Speaker 8: I think that because for myself, personally, I would be like,
• 20:09
  Speaker 8: I'm going to prioritize house because they just feel like
• 20:11
  Speaker 8: they just they're just going up and up and up,
• 20:13
  Speaker 8: and there might be a time where.
• 20:14
  Speaker 6: They go down and that would be really annoying.
• 20:16
  Speaker 8: But I just think I'm like, I want to get
• 20:18
  Speaker 8: that done sooner rather than later, and also just like
• 20:21
  Speaker 8: have a little place to hang my hat and like
• 20:23
  Speaker 8: settle in all that kind of stuff. So I would
• 20:25
  Speaker 8: prioritize that, but I would still be doing like because
• 20:27
  Speaker 8: you're saying one thousand to like one thousand, five hundred
• 20:30
  Speaker 8: per week.
• 20:31
  Speaker 3: That's insane to me.
• 20:31
  Speaker 4: I just went with the lowest amount because I was like, yeah,
• 20:35
  Speaker 4: either way, you are going to be good.
• 20:37
  Speaker 8: Absolutely, So I would be doing one thousand dollars in
• 20:39
  Speaker 8: a high savings high interest savings account every week and
• 20:43
  Speaker 8: then the rest. It's like it could be if it's
• 20:45
  Speaker 8: five hundred, as you're saying, or if it's like less
• 20:46
  Speaker 8: than five hundred, then I would just put that into
• 20:49
  Speaker 8: some like.
• 20:50
  Speaker 6: You know, investor somewhere.
• 20:51
  Speaker 8: But I think I would be putting majority of that
• 20:54
  Speaker 8: in a high interest savings.
• 20:55
  Speaker 6: How the end trying to get a house a SAP person,
• 20:59
  Speaker 6: I love that.
• 21:00
  Speaker 3: Well.
• 21:00
  Speaker 4: I don't know if we want Jess's advice because sorry,
• 21:02
  Speaker 4: you're not a landowner.
• 21:03
  Speaker 5: Now.
• 21:04
  Speaker 4: It's not to brag, not a brag, but she's actually
• 21:07
  Speaker 4: already achieved that girl.
• 21:09
  Speaker 7: No, I'm exactly the same as That's how I did it.
• 21:11
  Speaker 7: I was going to say, at one thousand dollars.
• 21:13
  Speaker 5: A week, I think you absolutely can probably afford to do.
• 21:16
  Speaker 7: Both pending timeline and all of those things that Victoria
• 21:19
  Speaker 7: acknowledged before.
• 21:20
  Speaker 3: I'm just too conservative, guys.
• 21:22
  Speaker 5: Yeah, no, I totally agree.
• 21:23
  Speaker 7: But for myself, I did I invested.
• 21:26
  Speaker 3: You was still investing, but it wasn't your main priority.
• 21:28
  Speaker 4: No, you're just like ticking along making sure that that
• 21:31
  Speaker 4: journey didn't drop off the radar.
• 21:33
  Speaker 5: Correct.
• 21:33
  Speaker 7: I would say I was probably putting seventy percent of
• 21:37
  Speaker 7: my spare money into the house deposit, and maybe fifteen
• 21:43
  Speaker 7: percent if that to my investment. So it was a
• 21:45
  Speaker 7: lot lower than what I'd done previously, but that's because
• 21:47
  Speaker 7: my big priority was the house, and that's absolutely made
• 21:49
  Speaker 7: sense for.
• 21:50
  Speaker 4: Me, and it paid off because you wanted a house
• 21:52
  Speaker 4: basically asap, and if it was all in your share portfolio,
• 21:56
  Speaker 4: even though there's better return in your share portfolio, you
• 21:59
  Speaker 4: sat down and worked out that if you had to
• 22:02
  Speaker 4: pull that money out at short notice, you might be
• 22:04
  Speaker 4: at a loss because you can never work out what
• 22:06
  Speaker 4: the market's going to do in the short.
• 22:08
  Speaker 3: Term, only in the long term.
• 22:09
  Speaker 4: But I have worked with clients historically who've been like, yeah,
• 22:13
  Speaker 4: property is massive priority for me, but in fifteen years
• 22:16
  Speaker 4: V like I'm a baby right now, or you know,
• 22:18
  Speaker 4: I want to go live in London and I want
• 22:20
  Speaker 4: to do this, but like when I've achieved all of
• 22:22
  Speaker 4: these other goals or finished UNI, or you know, worked
• 22:25
  Speaker 4: out what that life looks like, I want to come
• 22:28
  Speaker 4: home to Australia or I want to then be able
• 22:30
  Speaker 4: to go okay, cool and make this decision at that age.
• 22:34
  Speaker 4: Then they invested the money because they had enough time
• 22:37
  Speaker 4: on their side to make the most of the investment world.
• 22:40
  Speaker 4: Because I wouldn't ever, ever, ever invest for less than
• 22:43
  Speaker 4: ten years. But if they've got more than that, okay,
• 22:47
  Speaker 4: well maybe you do put your house to posit into
• 22:49
  Speaker 4: that and then in ten years you've got even more
• 22:51
  Speaker 4: money to play with. But like, what's the worst that
• 22:54
  Speaker 4: could happen in that situation?
• 22:57
  Speaker 3: So I don't know.
• 22:57
  Speaker 4: I think it's genuinely from my perspective that what are
• 23:00
  Speaker 4: your values? That I'm so sorry that I always go
• 23:03
  Speaker 4: back to that, But that's why I'm so passionate about
• 23:06
  Speaker 4: going do you know your money story?
• 23:08
  Speaker 3: Do you know what you actually value?
• 23:11
  Speaker 4: Are you actually being driven by what society is expecting
• 23:14
  Speaker 4: of you or what you expect of you?
• 23:16
  Speaker 3: Do you know the difference?
• 23:17
  Speaker 4: And it's not because I'm just a little brat, It's
• 23:20
  Speaker 4: because I genuinely go, if you know that you can
• 23:23
  Speaker 4: be successful and you can actually start structuring, you don't
• 23:26
  Speaker 4: need a financial advisor to tell you.
• 23:28
  Speaker 3: That you will know you can be that. Yeh, helf,
• 23:31
  Speaker 3: So would you like to talk about crypto?
• 23:33
  Speaker 6: I would love to?
• 23:34
  Speaker 9: Yes?
• 23:34
  Speaker 3: Are you ready? Are you ready? So this is what's
• 23:36
  Speaker 3: slid into my DMS this week? Are you ready? Hey,
• 23:39
  Speaker 3: she's on the money.
• 23:40
  Speaker 4: My partner is deep in crypto talk and it's all
• 23:43
  Speaker 4: he talks about lately he used to be really careful
• 23:46
  Speaker 4: with money, but now he's chasing every coin.
• 23:48
  Speaker 3: Some influencer is just hyping up.
• 23:51
  Speaker 4: We've already lost a few thousand dollars and it's starting
• 23:54
  Speaker 4: to feel a lot less.
• 23:55
  Speaker 3: Like investing and a lot more like gambling.
• 23:59
  Speaker 4: What's hard is trying to say for IVF and he
• 24:02
  Speaker 4: keeps saying that this is how we're going to fast
• 24:04
  Speaker 4: track it. I really get wanting a win, but it
• 24:07
  Speaker 4: feels like the exact opposite of what we need right now.
• 24:10
  Speaker 4: How do you talk to someone when they're in quotation marks?
• 24:13
  Speaker 4: Investment strategy is putting your shared goals at risk, and
• 24:19
  Speaker 4: you can go first on this.
• 24:20
  Speaker 8: I think it's really hard to say because when you
• 24:25
  Speaker 8: are in a place because I personally think I've been
• 24:27
  Speaker 8: like in the crypto space before, and I think that
• 24:30
  Speaker 8: if you really do believe, we like there's some sort
• 24:33
  Speaker 8: of urgency behind you, Like you really do think that
• 24:34
  Speaker 8: it's going to take off, We really do think it's
• 24:36
  Speaker 8: going to be the next like because we are I
• 24:38
  Speaker 8: think I think we all secretly, even if you don't,
• 24:40
  Speaker 8: we kind of all secretly wish that we got on
• 24:42
  Speaker 8: the bitcoin train when it started.
• 24:44
  Speaker 3: And that totally. I think we all want to be rich, right.
• 24:47
  Speaker 6: I think that.
• 24:48
  Speaker 8: There's like an element of like crypto. It's like that
• 24:50
  Speaker 8: could happen again any moments.
• 24:51
  Speaker 6: It's like I think when the.
• 24:53
  Speaker 3: You could also win Powerable at any moment.
• 24:56
  Speaker 5: Could a girl can hope?
• 24:58
  Speaker 8: I could just be projecting here because I think that
• 25:01
  Speaker 8: that's that's possible.
• 25:02
  Speaker 3: Yeah, you could also win Powerball.
• 25:03
  Speaker 6: You also could win Powerball.
• 25:05
  Speaker 8: It's really hard to change the trajectory of someone's investment
• 25:09
  Speaker 8: journey when they really truly believe something. I don't really
• 25:15
  Speaker 8: have any solid advice other than communicating and just making
• 25:19
  Speaker 8: sure communication.
• 25:20
  Speaker 4: I know, I know that you can't bring that up
• 25:23
  Speaker 4: this early and early that's true last thing we talk about,
• 25:26
  Speaker 4: don't you know that's true?
• 25:28
  Speaker 8: But also like just I mean and like you not
• 25:30
  Speaker 8: to give any advice at all, but I think.
• 25:33
  Speaker 4: I give all your advice actually, because cryptocurrency is not
• 25:37
  Speaker 4: a licensed or registered financial product in Australia, which is
• 25:40
  Speaker 4: why people can talk anything they want about it.
• 25:43
  Speaker 3: Just make you the same about the shed market.
• 25:45
  Speaker 6: This makes sense.
• 25:45
  Speaker 4: Yeah, and anybody turns out anybody can talk about it, well,
• 25:48
  Speaker 4: could you try and.
• 25:49
  Speaker 8: Like get them to split. I don't know, like do
• 25:52
  Speaker 8: half in going to like the Australian ax that what
• 25:56
  Speaker 8: it's called. And I don't know enough about crypto to poopoo,
• 26:00
  Speaker 8: but I know that you're very against.
• 26:01
  Speaker 4: It, so I, oh, I'm not very against it. Yes
• 26:04
  Speaker 4: and no, yes and no. Jess what's your opinion, because
• 26:07
  Speaker 4: like I'll give mine after this. You guys know, I'm
• 26:10
  Speaker 4: relatively conservative.
• 26:12
  Speaker 7: So for me, crypto I don't love because there is
• 26:15
  Speaker 7: not a lot of historical data. I find that it's
• 26:17
  Speaker 7: a very volatile asset. I also just think that it's
• 26:21
  Speaker 7: so hard to It's like an NFT, right, Like it's
• 26:25
  Speaker 7: very hard to quantify the tangible value of that type
• 26:28
  Speaker 7: of and we saw how that went exactly right as
• 26:30
  Speaker 7: compared to a share, where when I'm buying a share,
• 26:32
  Speaker 7: there is a company that I can do research on,
• 26:35
  Speaker 7: like I'm you know, I know what products they produce, it,
• 26:37
  Speaker 7: what services they provide, Whereas more often than not, crypto
• 26:41
  Speaker 7: is like this theoretical asset. And that's where I really
• 26:45
  Speaker 7: struggle with it, because I go, well, yeah, you can
• 26:46
  Speaker 7: say this cryptos worth like a million dollars, but tomorrow
• 26:49
  Speaker 7: someone could just turn around just say no, actually, just kidding.
• 26:52
  Speaker 7: It's not so I'm not anti crypto, but it's not
• 26:55
  Speaker 7: something that I personally choose to invest in. You're totally right,
• 26:58
  Speaker 7: Like you can look at bitcoin and all of those
• 27:00
  Speaker 7: other things and go ooh, like looking at how that went,
• 27:03
  Speaker 7: Like do I wish I bought a bitcoin whene first
• 27:04
  Speaker 7: came out? Obviously, but I don't think for me personally
• 27:08
  Speaker 7: it's an asset that I would feel comfortable investing in it.
• 27:11
  Speaker 7: And to each their own, like we know that Brooke
• 27:13
  Speaker 7: holds some of it from her episode.
• 27:14
  Speaker 4: I also own part of that ETF, But to be
• 27:17
  Speaker 4: very clear, that ETF is an ETF that invests in
• 27:23
  Speaker 4: not cryptocurrency, but rather the infrastructure that supports cryptocurrency. So
• 27:29
  Speaker 4: if a coin fails, that infrastructure is still there and
• 27:33
  Speaker 4: another cryptocurrency would start using it.
• 27:35
  Speaker 7: Well, there you are, and see like that sounds like
• 27:37
  Speaker 7: something that might be more aligned to me, but to
• 27:38
  Speaker 7: everybody's different.
• 27:39
  Speaker 4: I just thought it was fun. It's not a very
• 27:41
  Speaker 4: big part of my portfolio, but like, at the same time,
• 27:44
  Speaker 4: I find this space fun and want to engage in
• 27:48
  Speaker 4: like what we call satellite investments, so that I can
• 27:51
  Speaker 4: still be engaged, but also.
• 27:52
  Speaker 3: I'm not risking my wealth. Yes, yeah, I'm.
• 27:55
  Speaker 7: Not here for but exactly as you said, and we
• 27:58
  Speaker 7: have seen it happen, Like there have been cases raised
• 28:01
  Speaker 7: against influencers who were promoting cryptos. There was pump and
• 28:05
  Speaker 7: dump schemes, there was all types of things. Because it's
• 28:07
  Speaker 7: an unregulated space, people can do whatever they want. And
• 28:11
  Speaker 7: I mean we see it in financial services more broadly,
• 28:13
  Speaker 7: on a lower scale because thankfully there is regulation, but
• 28:16
  Speaker 7: obviously not everybody adheres to it.
• 28:18
  Speaker 5: But you can't.
• 28:19
  Speaker 7: I know that this is going to sound deeply hypocritical
• 28:21
  Speaker 7: because I'm saying it on a finance podcast, but you
• 28:24
  Speaker 7: can't just take the advice from any person who's got
• 28:27
  Speaker 7: a microphone or a.
• 28:28
  Speaker 3: Camera, you know, And so you actually can't.
• 28:31
  Speaker 7: But it's true, like any person with a little bit
• 28:33
  Speaker 7: of charisma can get on TikTok and convince you, especially
• 28:36
  Speaker 7: someone like me who is.
• 28:38
  Speaker 4: Variously Yes, we should have started a crypto coin, we
• 28:41
  Speaker 4: should have started a multiple marketing business. Yeah, bring back
• 28:45
  Speaker 4: the cooin, Like we should be using our power.
• 28:49
  Speaker 5: For bad yeah, And that's you know what I mean.
• 28:51
  Speaker 7: Like I'm someone who's very trusting in what I see,
• 28:53
  Speaker 7: Like I can be very easily convinced of things. So
• 28:56
  Speaker 7: any person with a bit of charisma can get on
• 28:58
  Speaker 7: TikTok and tell you that this is the next best
• 29:00
  Speaker 7: stock option totally. And if you're not someone who's doing
• 29:03
  Speaker 7: your own research, if you're someone who gets caught up
• 29:05
  Speaker 7: in that, like I can be, it is really easy.
• 29:07
  Speaker 7: And I can see how your partner could be going,
• 29:09
  Speaker 7: oh my god, like we've got this goal that we
• 29:11
  Speaker 7: want to achieve. This is a sure thing basically, which
• 29:14
  Speaker 7: is where exactly as Victoria said, you kind of are
• 29:17
  Speaker 7: almost straying into gambling territory. It is kind of scary,
• 29:21
  Speaker 7: but you could win powable, you know what. I hope
• 29:23
  Speaker 7: that I do, and I hope that everyone listening does too.
• 29:26
  Speaker 7: That's not an investing strategy.
• 29:28
  Speaker 5: Not at all.
• 29:29
  Speaker 7: Game we say, generally speaking, you shouldn't be investing for
• 29:31
  Speaker 7: a short term goal, regardless of what you're investing in,
• 29:34
  Speaker 7: and I would argue that.
• 29:35
  Speaker 5: That applies to crypto as well. I agree, take it away,
• 29:38
  Speaker 5: VD not.
• 29:38
  Speaker 3: Even take it away, I feel kind of mean. But
• 29:43
  Speaker 3: also let's zoom out.
• 29:44
  Speaker 4: So my favorite book when it comes to investing, it's
• 29:48
  Speaker 4: not investing by She's on, No, that's that's the best
• 29:52
  Speaker 4: book but not. My favorite is from nineteen twenty six
• 29:56
  Speaker 4: and it's by a guy called George S. Klassen, George
• 29:59
  Speaker 4: Samuel Class and it's called The Richest Man in Babylon.
• 30:03
  Speaker 4: You guys have heard me talk about this book before,
• 30:06
  Speaker 4: and I disclaimer this book as being the most.
• 30:09
  Speaker 3: Dry read of your entire life.
• 30:12
  Speaker 4: But it is a fantastic book when it comes down
• 30:16
  Speaker 4: to why investing started, how it works, what that looks like.
• 30:20
  Speaker 4: We're not talking about the Australian share market. We're not
• 30:23
  Speaker 4: talking about cryptocurrency in this book. We are talking about
• 30:27
  Speaker 4: buying and trading sheep. We are talking about what old
• 30:30
  Speaker 4: marketplaces looked like and how out of those marketplaces people
• 30:34
  Speaker 4: built businesses. But then out of those marketplaces people were
• 30:37
  Speaker 4: able to trade and invest in different other businesses and
• 30:40
  Speaker 4: create wealth for themselves.
• 30:41
  Speaker 10: Right.
• 30:42
  Speaker 4: And that's why that's one of my favorite books, because
• 30:44
  Speaker 4: it teaches you the foundations of that. Now, you don't
• 30:47
  Speaker 4: have to read that if you don't want to read
• 30:48
  Speaker 4: the driest book in the entire world.
• 30:50
  Speaker 3: You can.
• 30:50
  Speaker 4: If you're on the same team as me and you're like,
• 30:52
  Speaker 4: I just want the information, I would.
• 30:55
  Speaker 3: Say it's not a big read.
• 30:56
  Speaker 4: It's quite a skinny book, so it's not too overwhelming,
• 30:58
  Speaker 4: but all of those principles of what I bring to
• 31:01
  Speaker 4: sheese on the money anyway. So I think that you
• 31:03
  Speaker 4: would read this and be like, oh, that makes sense
• 31:05
  Speaker 4: and it's just validating. But one of the lessons in
• 31:08
  Speaker 4: that book is you would never take advice from a
• 31:12
  Speaker 4: brick layer on buying diamonds.
• 31:15
  Speaker 5: So true.
• 31:16
  Speaker 4: And so if you were going out into the world
• 31:18
  Speaker 4: and you wanted to propose to Jess and you wanted
• 31:21
  Speaker 4: the biggest and the best diamond, ever, where are you going?
• 31:26
  Speaker 4: Who were you going to ask for advice? The same
• 31:30
  Speaker 4: should be true with money and finance. You are coming
• 31:33
  Speaker 4: to me, and you're coming to this podcast hopefully because
• 31:37
  Speaker 4: we really ridiculously funny and we are so hot that
• 31:41
  Speaker 4: leavings why right? But also in the background, sorry, I
• 31:46
  Speaker 4: was a financial advisor who ran a very successful practice.
• 31:49
  Speaker 4: I still hold a financial services license, I own a
• 31:52
  Speaker 4: credit license, I run a mortgage broking business. I am
• 31:55
  Speaker 4: in the nitty gritty of this every single day. And
• 31:58
  Speaker 4: do you know what I want to get filthy Ridge too?
• 32:01
  Speaker 4: Do you think that if that option was on the table,
• 32:05
  Speaker 4: and it was a genuine option and one of the
• 32:07
  Speaker 4: best investment options out there, I wouldn't have already taken
• 32:10
  Speaker 4: advantage of it.
• 32:11
  Speaker 6: That's a great point.
• 32:12
  Speaker 4: Have you ever met a financial advisor who is so
• 32:16
  Speaker 4: excited about crypto because it is the best outcome. Have
• 32:20
  Speaker 4: you ever met an accountant, a mortgage broker, a somebody
• 32:24
  Speaker 4: who works in the financial services industry and knows it
• 32:27
  Speaker 4: like the back of their hand choosing to put their
• 32:29
  Speaker 4: wealth in crypto and not too young people's yum, no,
• 32:32
  Speaker 4: no no, But like we are going back to the basics.
• 32:35
  Speaker 3: We're not saying it is a bad asset class.
• 32:38
  Speaker 4: I have already told you that I own an ETF
• 32:40
  Speaker 4: that invests in the infrastructure of crypto, because I do
• 32:43
  Speaker 4: think that it is part of the way our future
• 32:46
  Speaker 4: is going to be constructed. At this point, though you
• 32:50
  Speaker 4: cannot bet on which coins are going to take off,
• 32:53
  Speaker 4: every man and his dog has a coin wire influencers
• 32:57
  Speaker 4: influencing you so well that you're willing to risk your
• 33:00
  Speaker 4: future wealth and you're not listening to experts because you'll.
• 33:04
  Speaker 7: Never catch us saying this is the best like we
• 33:06
  Speaker 7: do the oppositely, we will say this performed really well,
• 33:09
  Speaker 7: Go away, do your and research like we will never ever.
• 33:11
  Speaker 4: Ever, I always say, don't just listen to my podcast,
• 33:14
  Speaker 4: listen to every single other podcast on the market. Take
• 33:17
  Speaker 4: my advice with a grain of salt, because my advice
• 33:20
  Speaker 4: is always going to be shadowed by my opinion and
• 33:22
  Speaker 4: my conservativeness and wanting to put you in the best possible.
• 33:25
  Speaker 3: Position, all of that.
• 33:26
  Speaker 4: But like you might be introduced to another concept in
• 33:28
  Speaker 4: a way that resonates with you better. And you know what,
• 33:31
  Speaker 4: I don't care where you get that information. All I
• 33:33
  Speaker 4: care is that you personally benefited from financial literacy because
• 33:38
  Speaker 4: that's my mission. So I think going back to is
• 33:41
  Speaker 4: crypto a bad decision? No, not necessarily, but yes it
• 33:45
  Speaker 4: is if you're getting your advice from TikTok.
• 33:48
  Speaker 3: Yes it is if you're.
• 33:48
  Speaker 4: Getting it from people who are not educated and have
• 33:51
  Speaker 4: brought into essentially what I believe is a pyramid scheme
• 33:55
  Speaker 4: of cryptocurrency because it feels like a cult, and that
• 33:59
  Speaker 4: influence is making money on the referrals from you signing up.
• 34:03
  Speaker 4: That influencer is making money because every single time another
• 34:06
  Speaker 4: person invests into that coin, it increases in value and
• 34:10
  Speaker 4: they therefore have a more valuable portfolio, Like they are
• 34:14
  Speaker 4: benefiting from this. But they don't have the backing, and
• 34:16
  Speaker 4: that makes me so grumpy because they don't know what
• 34:20
  Speaker 4: they're talking about. But they will come guns braized and
• 34:24
  Speaker 4: be like, but see, Victoria, the proof is in the pudding. Look,
• 34:27
  Speaker 4: I've got all these people invested and our portfolios are increasing.
• 34:31
  Speaker 4: For how long, baby cakes? How long is this going
• 34:34
  Speaker 4: to work? How long is this viable? Is this even
• 34:37
  Speaker 4: a good crypto asset? And then zooming even further out.
• 34:41
  Speaker 4: If I sat down and I was having an initial
• 34:43
  Speaker 4: meeting with a financial advice client way back in the day,
• 34:45
  Speaker 4: one of the first things I would draw on my
• 34:47
  Speaker 4: whiteboard is a little or.
• 34:49
  Speaker 3: A big L shaped graph.
• 34:51
  Speaker 4: The first is risk on the yaxis, and then on
• 34:54
  Speaker 4: the xaxis I would have put reward right. So reward
• 34:57
  Speaker 4: is the bottom line and risk is the top line.
• 35:00
  Speaker 4: And at the bottom here you've got cash. Then it
• 35:03
  Speaker 4: starts to increase in risk because the more risk you take,
• 35:06
  Speaker 4: the more reward you could potentially get. And it goes cash,
• 35:09
  Speaker 4: fixed interest bonds, goes into Australian property, international property, Australian shares,
• 35:15
  Speaker 4: international shares diversified, you know, more exotic assets, and then
• 35:20
  Speaker 4: all the way off the chart is crypto it is
• 35:24
  Speaker 4: very high risk, it is very high reward. But the idea,
• 35:28
  Speaker 4: and I'm so sorry for this rant, but the idea
• 35:31
  Speaker 4: that someone in my community would for some reason be
• 35:34
  Speaker 4: the most comfortable with the highest risk and the highest
• 35:37
  Speaker 4: reward asset class and they have never invested before blows
• 35:42
  Speaker 4: my mind because we're putting the most at risk, and
• 35:45
  Speaker 4: if that doesn't work out, you are going to run
• 35:47
  Speaker 4: for the hills from investing in general.
• 35:49
  Speaker 3: You are not going to be able to set future
• 35:51
  Speaker 3: you up because you'll be like, I lost.
• 35:52
  Speaker 4: All my money when I started this investing journey and
• 35:56
  Speaker 4: just write it off completely, when in reality, we'd peg
• 35:59
  Speaker 4: you back of questions when I do or used to
• 36:02
  Speaker 4: do the fact find was have you invested before? If so,
• 36:06
  Speaker 4: what in And every fact find that you will do
• 36:10
  Speaker 4: or find for free online will always ask you that
• 36:12
  Speaker 4: question because that plays into how much risk you're willing
• 36:15
  Speaker 4: to take. So it's very uncommon when you would do
• 36:19
  Speaker 4: a risk reward fact find sessh with a client that
• 36:23
  Speaker 4: they would come out as super high risk, super high reward,
• 36:26
  Speaker 4: super aggressive portfolio. You might find that they fall into
• 36:29
  Speaker 4: the growth bucket and we're going to start there and
• 36:32
  Speaker 4: then maybe over the time that we work with them,
• 36:35
  Speaker 4: they become super aggressive. But like you never want to
• 36:38
  Speaker 4: bite off more than you can chew, or take on
• 36:40
  Speaker 4: more risk than you can afford to take on. Right now,
• 36:43
  Speaker 4: you're telling me you have priorities like IVF and you
• 36:46
  Speaker 4: are taking on too much risk and it is not
• 36:49
  Speaker 4: working up for you. Yeah, do I hate crypto? No,
• 36:53
  Speaker 4: but I hate it for those reasons because it doesn't
• 36:56
  Speaker 4: put my community in the best possible position. You can
• 36:58
  Speaker 4: tell from my tone of void mad about this.
• 37:00
  Speaker 5: We're on over a horse. What did everybody else say?
• 37:03
  Speaker 3: Oh?
• 37:03
  Speaker 4: They had better, more regulated opinions than I. So first
• 37:07
  Speaker 4: question we asked was what would you do if you
• 37:10
  Speaker 4: were our community member. Forty four percent said only let
• 37:14
  Speaker 4: him invest his spending money, twenty eight percent said only
• 37:17
  Speaker 4: invest what you agree on, fourteen percent said deal break
• 37:20
  Speaker 4: at TBH, and thirteen percent said separate finances completely. We
• 37:25
  Speaker 4: then said how do you feel about crypto? Fifty seven
• 37:28
  Speaker 4: percent said it is too risky for me, twenty four
• 37:31
  Speaker 4: percent said interested but don't know enough, eleven percent said
• 37:35
  Speaker 4: what even is that? An eight percent said I am
• 37:37
  Speaker 4: already invested, which is absolutely fine. And then I said,
• 37:41
  Speaker 4: as always, what's your two cents. First person said, treat
• 37:45
  Speaker 4: him like any other gambler, separate your finances and get
• 37:48
  Speaker 4: him help. I mean, sorry, if you're taking advice from
• 37:52
  Speaker 4: TikTok influences, that is gambling, not investing. Someone else said,
• 37:58
  Speaker 4: maybe I picked this one because it supports my narrative.
• 38:01
  Speaker 4: The restauran't equivalent of an MLM girlie. You have to
• 38:05
  Speaker 4: look at what their advice is doing to benefit them.
• 38:08
  Speaker 6: Absolutely.
• 38:09
  Speaker 1: Yeah.
• 38:09
  Speaker 4: The next person said, my husband uses his fun money
• 38:12
  Speaker 4: to invest in cryptos, so our goals aren't impacted. He
• 38:15
  Speaker 4: still has fun and it works really well for us.
• 38:18
  Speaker 4: Next person said, it took me twelve months research before
• 38:21
  Speaker 4: I made my first crypto investment. Don't go off influences.
• 38:24
  Speaker 3: Because there will be people there.
• 38:26
  Speaker 7: I feel like we have to add a tiny caveat,
• 38:27
  Speaker 7: especially because we're also in TikTok that.
• 38:29
  Speaker 5: Like, there will be some people out there who don't all.
• 38:31
  Speaker 3: My financial services license.
• 38:33
  Speaker 7: Well, that's it, I say the majority. I think it's
• 38:36
  Speaker 7: much riskier, but always you're in research.
• 38:38
  Speaker 4: Yeah, and like I think, critically looking at any piece
• 38:42
  Speaker 4: of information on the Internet, I don't care if you're
• 38:44
  Speaker 4: watching an influencer with a really sexy mascara. Why is
• 38:48
  Speaker 4: she trying to sell that to you? Was it gifted
• 38:51
  Speaker 4: to her? Was it something that she genuinely just loves
• 38:54
  Speaker 4: and is sharing. Was it something that she's getting commissioned
• 38:56
  Speaker 4: off product sales? Like I just think being critical.
• 39:00
  Speaker 7: Because none of those things are bad, but they can
• 39:02
  Speaker 7: factor into how people represent exactly.
• 39:04
  Speaker 4: And if you don't have all of the information on
• 39:06
  Speaker 4: the table to make the decision that's right for you,
• 39:08
  Speaker 4: then great. I love a good mascara though, and I
• 39:11
  Speaker 4: do look them up on TikTok, but I'm always like, oh,
• 39:14
  Speaker 4: why would you be saying that? And I look like
• 39:15
  Speaker 4: the paid partnership and the check things and like like, oh,
• 39:18
  Speaker 4: I actually I'd prefer to find an organic opinion.
• 39:20
  Speaker 3: Okay.
• 39:21
  Speaker 4: Next person said, my mum was scammed out of her
• 39:23
  Speaker 4: super with crypto ATMs at the supermarket.
• 39:27
  Speaker 3: They also got her on social media too.
• 39:30
  Speaker 7: A side note, I think I sent you a photo
• 39:32
  Speaker 7: the first time I ever saw an I did right
• 39:34
  Speaker 7: an age at my local shopping center for crypto, which
• 39:37
  Speaker 7: I boggled my mind.
• 39:38
  Speaker 4: Do you know what my favorite thing is? You guys
• 39:40
  Speaker 4: love a little bit of tea. So everyone is always
• 39:43
  Speaker 4: in my personal dams on instagram sending photos like that
• 39:46
  Speaker 4: or just tea about investment influencers and stuff. It is
• 39:49
  Speaker 4: so fun but like also terrifying. Someone else said, and
• 39:53
  Speaker 4: I thought this one was the tea. I worked at
• 39:56
  Speaker 4: a cryptocurrency for a long time, and so much is
• 39:59
  Speaker 4: smoker mirrors and regulated financial marketing straight from the horse's mouth.
• 40:02
  Speaker 3: Wow.
• 40:04
  Speaker 4: Another person good advice said, only invest what you can
• 40:07
  Speaker 4: afford to lose.
• 40:08
  Speaker 3: Best advice I've ever received.
• 40:10
  Speaker 4: Someone else said, girl, go into his settings and reset
• 40:12
  Speaker 4: his TikTok algorithm while he's in the show.
• 40:14
  Speaker 5: Literally, and that's where video. Yeah, I believe my girlfriend.
• 40:20
  Speaker 4: Engagement IVF positive stories.
• 40:28
  Speaker 5: I love it.
• 40:28
  Speaker 3: All right, Well, I am going to call it. That's
• 40:30
  Speaker 3: where I'm going to leave it.
• 40:31
  Speaker 4: I feel like I've been more than opinionated on this episode,
• 40:33
  Speaker 4: so I hope the rant was appreciated.
• 40:36
  Speaker 3: But also I think I need to calm down on
• 40:39
  Speaker 3: the quiet corner for really.
• 40:40
  Speaker 4: I'm just gonna have a little bit of a break,
• 40:42
  Speaker 4: all right, guys, We'll see you right nearly on Monday
• 40:44
  Speaker 4: morning for a money diary.
• 40:46
  Speaker 3: But till then, have the best weekend.
• 40:48
  Speaker 5: Bye bye, guys.
• 40:49
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