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The Lipstick Index · She's On The Money

• 0:00
  Speaker 1: Hello.
• 0:01
  Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the
• 0:05
  Speaker 2: Order KERNI Whoalbury and a waddery woman. And before we
• 0:08
  Speaker 2: get started on She's on the Money podcast, I would
• 0:11
  Speaker 2: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 2: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 2: the elders, the ancestors and the next generation coming through
• 0:23
  Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 2: the storytelling of you to make a difference for today
• 0:31
  Speaker 2: and lasting impact for tomorrow.
• 0:33
  Speaker 1: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 4: Hello, and welcome to She's on the Money, the podcast
• 1:00
  Speaker 4: for millennials who want financial freedom. My name is Beckside
• 1:05
  Speaker 4: and with me is Victoria Device.
• 1:07
  Speaker 1: Hello and welcome to twenty twenty three Deep Dives. Are
• 1:10
  Speaker 1: you excited?
• 1:11
  Speaker 4: I am so excited, A little nervous.
• 1:12
  Speaker 1: You look craly nervous?
• 1:13
  Speaker 5: Do I look? I'm really you're a little bit scary,
• 1:16
  Speaker 5: being intimidating, all like five for one of me, just
• 1:20
  Speaker 5: like towering over you.
• 1:22
  Speaker 4: Yes, you're a little I hate saying this pocket rocket.
• 1:24
  Speaker 1: No worse, we're going to go, we'll keep it on.
• 1:29
  Speaker 4: I'm very excited to do this deep dive with you today.
• 1:32
  Speaker 4: Do you want to jump straight in?
• 1:33
  Speaker 1: Yeah, let's jump straight in. Great.
• 1:35
  Speaker 4: I think today's topic is actually all too relatable. I'll
• 1:39
  Speaker 4: start by asking you, have you ever splurged a little
• 1:43
  Speaker 4: bit when you really shouldn't have, Like, not anything huge,
• 1:46
  Speaker 4: just misca our nail polish. I don't know, lipstick maybe
• 1:51
  Speaker 4: if you have. Not only is it okay, but it's
• 1:54
  Speaker 4: apparently so common that it's gotten its own name, the
• 1:58
  Speaker 4: lipstick index. Have you heard of this?
• 2:01
  Speaker 1: I have.
• 2:02
  Speaker 5: I'm very excited to talk about this. I've mentioned it
• 2:04
  Speaker 5: too a few of my friends and they're like, what
• 2:06
  Speaker 5: are you talking about? So now we're doing a whole
• 2:08
  Speaker 5: episode on it.
• 2:09
  Speaker 4: I mean, you've got it. I actually had never heard
• 2:11
  Speaker 4: of this before, but it makes sense. I think this
• 2:13
  Speaker 4: is a term we're going to hear more often than
• 2:15
  Speaker 4: do you know why it might be more common.
• 2:17
  Speaker 5: Look, at the end of the day, the lipstick index
• 2:20
  Speaker 5: exists as kind of like a really it's a bit fluffy,
• 2:23
  Speaker 5: but it's a legit, which I find hilarious. But it's
• 2:25
  Speaker 5: actually an indicator of an either an impending recession, or
• 2:29
  Speaker 5: that we're already in a recession, and given we are
• 2:32
  Speaker 5: likely to be headed into a recession this year, I
• 2:35
  Speaker 5: don't want to put too many eggs all in that
• 2:37
  Speaker 5: one basket. But we've been talking about it in twenty
• 2:40
  Speaker 5: twenty two, and I think it is only fair to
• 2:42
  Speaker 5: really embrace it this year and talk about it now.
• 2:44
  Speaker 5: But a lot of economists are predicting that we will
• 2:47
  Speaker 5: fall into a recession this year, which is essentially where
• 2:50
  Speaker 5: we have a pretty significant economic downturn. So it's a
• 2:54
  Speaker 5: period of time where less people have jobs and there's
• 2:57
  Speaker 5: less economic activity, so less trading.
• 3:00
  Speaker 1: People are a little bit worried.
• 3:02
  Speaker 5: And I would assume that if that's the case in
• 3:04
  Speaker 5: the economy, that's the case in our community.
• 3:06
  Speaker 1: So we want to talk about it.
• 3:08
  Speaker 5: But during times of economic downturn more crisis, you can't
• 3:11
  Speaker 5: actually afford big ticket items like I'm not going to
• 3:13
  Speaker 5: go out and buy a brand new washing machine when
• 3:15
  Speaker 5: I'm financially stressed. But you know what I can afford.
• 3:18
  Speaker 5: I can afford a like a little premium luxury. I
• 3:20
  Speaker 5: can go back and like lipstick that makes me feel good,
• 3:23
  Speaker 5: because I might not be able to justify a whole,
• 3:25
  Speaker 5: brand new outfit to make myself feel good.
• 3:28
  Speaker 1: But do you know what can make me feel good.
• 3:29
  Speaker 5: Like refresh it, treating yourself? Yeah, exactly, a lipstick. So
• 3:32
  Speaker 5: that's why it's called the lipstick index, because it basically
• 3:36
  Speaker 5: makes you feel good, but is a small amount of money.
• 3:39
  Speaker 4: Okay, that makes sense. I feel like I do that
• 3:41
  Speaker 4: a little bit too often when I'm feeling already good.
• 3:45
  Speaker 1: Feel like I feel good. I need more I feel good.
• 3:48
  Speaker 4: I need to maintain this good feeling. I know that
• 3:51
  Speaker 4: we're talking about the lipstick index, but if you don't mind,
• 3:53
  Speaker 4: I might just quickly ask you what.
• 3:57
  Speaker 1: What it actually is and give it a more info.
• 4:00
  Speaker 1: What where? How does this happen?
• 4:02
  Speaker 4: Like? How do we expect or predict a recession? What
• 4:06
  Speaker 4: is a recession? Should I just be blissfully ignorant? Or
• 4:10
  Speaker 4: should I know about this? Should prepared?
• 4:12
  Speaker 1: I think it's fair to know about it.
• 4:14
  Speaker 5: I think that you would have already heard, assuming that
• 4:17
  Speaker 5: you don't live under a roll Clarke Patrick the Cistar,
• 4:21
  Speaker 5: you would have heard of a recession, and you would
• 4:22
  Speaker 5: assume that it's not a good thing. In twenty twenty two,
• 4:25
  Speaker 5: we did a whole podcast on it, but you weren't
• 4:27
  Speaker 5: here in twenty twenty two, so this is a very
• 4:29
  Speaker 5: fair question. And I'm assuming we also have a number
• 4:31
  Speaker 5: of brand new listeners, So we have heaps of resources
• 4:34
  Speaker 5: that you can go back to. Just type into your
• 4:36
  Speaker 5: search bar on whatever podcasting app you do use She's
• 4:39
  Speaker 5: on the Money, and then recession and our episodes that
• 4:42
  Speaker 5: reference that will come up. But essentially, a recession is
• 4:45
  Speaker 5: a significant decline in economic activity that can last for
• 4:48
  Speaker 5: months or even years, and experts basically declare, quote, we're
• 4:52
  Speaker 5: in a recession when a nation's economy experiences negative gross
• 4:56
  Speaker 5: domestic product, which is called GDP, essentially exports and rising
• 5:02
  Speaker 5: levels of unemployment, as well as falling retail sales and
• 5:05
  Speaker 5: contracting measures of income and manufacturing for extended periods of time.
• 5:09
  Speaker 5: So it's kind of like everything grinds to a massive holt,
• 5:12
  Speaker 5: and I mean not absolutely everything, but like when things
• 5:14
  Speaker 5: are going down, people get worried and you're like, oh,
• 5:17
  Speaker 5: maybe I won't build that house, maybe I won't buy
• 5:19
  Speaker 5: so many clothes, Maybe I'll just put that thing I've
• 5:22
  Speaker 5: been planning on purchasing off for a little bit longer.
• 5:24
  Speaker 5: Because you know, my husband now doesn't have a job
• 5:27
  Speaker 5: or I'm seeing around me other people not have job stability,
• 5:30
  Speaker 5: and that can be really stressful. So a recession is
• 5:33
  Speaker 5: something that is really stressful. And the last one we
• 5:36
  Speaker 5: went through was the GFC, so the global financial crisis
• 5:40
  Speaker 5: that happened in two thousand and eight and really impacted
• 5:42
  Speaker 5: people in two thousand and nine, and that you know,
• 5:45
  Speaker 5: we covered that on the podcast as well, So if
• 5:47
  Speaker 5: you want to look that up, search she's on the
• 5:49
  Speaker 5: Money GFC and it will come up because they deep
• 5:51
  Speaker 5: dived into that. But essentially, it's important to not only
• 5:54
  Speaker 5: understand what a recession is, but also financially prepare for it,
• 5:58
  Speaker 5: which we're going to do a lot of content on
• 5:59
  Speaker 5: these year. But the lipstick index is a term that's
• 6:03
  Speaker 5: just kind of interesting, and I think that she's on
• 6:04
  Speaker 5: the Money community will find it really interesting because it's
• 6:08
  Speaker 5: one of those things that you don't realize how important
• 6:12
  Speaker 5: little things are to a community until you know something
• 6:15
  Speaker 5: bad happens and we start really appreciating the small pleasures.
• 6:18
  Speaker 5: And I think it's also a really nice reminder that
• 6:21
  Speaker 5: we can still have nice things when we don't have
• 6:24
  Speaker 5: massive budgets.
• 6:25
  Speaker 4: That makes me feel a little bit better about my
• 6:26
  Speaker 4: spending habits actually, but it does bit weird that it's
• 6:30
  Speaker 4: because like, I don't relate to that, I don't buy lipstick.
• 6:32
  Speaker 1: Why is that the term?
• 6:33
  Speaker 4: Why you come across as the type of gowl who
• 6:36
  Speaker 4: decides that lipstick is hor splurge item. Yeah, Like, are
• 6:39
  Speaker 4: we assuming that it's just for people who buy like
• 6:42
  Speaker 4: small cosmetic items?
• 6:44
  Speaker 2: No?
• 6:45
  Speaker 1: No, no, no.
• 6:45
  Speaker 5: So it was actually coined in the aftermath of September eleven,
• 6:48
  Speaker 5: during the two thousand and one US recession by a
• 6:51
  Speaker 5: guy called Leonard Lauder, who might be familiar because he's
• 6:54
  Speaker 5: the chairman of stay Lauder Cosmetics. And this guy he
• 6:58
  Speaker 5: found that lipstick sales Esta Lauder rose in the autumn
• 7:02
  Speaker 5: of that year, which indicates that women facing an uncertain
• 7:05
  Speaker 5: economic environment actually turned to beauty products as an affordable
• 7:08
  Speaker 5: little treaty treat beck and it's continued to play out.
• 7:12
  Speaker 5: So in the financial crisis of two thousand and eight
• 7:14
  Speaker 5: slash two thousand and nine that I mentioned before, sales
• 7:17
  Speaker 5: of Foundation went through the roof, and Lurel's sales in general,
• 7:21
  Speaker 5: like across the board, grew by five point eight percent,
• 7:25
  Speaker 5: which is why, given we were in a recession and
• 7:28
  Speaker 5: everything else was just going down and Loreal's like, oh,
• 7:30
  Speaker 5: we're over here making bank Heven a really good time.
• 7:33
  Speaker 1: Yeah, so it must be nice exactly.
• 7:34
  Speaker 5: So the lipstick index just comes from a guy who
• 7:37
  Speaker 5: decided to call it that. It's not because lipstick is
• 7:40
  Speaker 5: the only thing we're spending on. It just came from
• 7:42
  Speaker 5: a guy who happens to be a chairman.
• 7:44
  Speaker 1: Of Esday lauder Town guy.
• 7:45
  Speaker 4: Just a small town guy living in a big city.
• 7:50
  Speaker 4: That's actually very interesting. Do they know why that is?
• 7:53
  Speaker 4: Can you tell me how that actually works?
• 7:54
  Speaker 5: So the lipstick effect is a consumer expression of something
• 7:57
  Speaker 5: the economists like to call the income effect. So with
• 8:01
  Speaker 5: normal goods, as a consumer's income rises, so does demand.
• 8:04
  Speaker 5: And we've talked about this before and I call it
• 8:07
  Speaker 5: on the podcast lifestyle Creep, which you would have heard
• 8:10
  Speaker 5: me talk about a million times before. But essentially an
• 8:13
  Speaker 5: example of lifestyle creeper is when I was at Uni,
• 8:15
  Speaker 5: I used to buy like makeup and stuff from the
• 8:17
  Speaker 5: supermarket and from price line, And now I have a
• 8:19
  Speaker 5: full time job, I'm like dabbling with Mecca and my
• 8:22
  Speaker 5: expenses have increased because obviously, like a Mecca foundation much
• 8:26
  Speaker 5: more expensive. Though on the one on sale of coals,
• 8:29
  Speaker 5: but it kind of just slowly creeps up on you.
• 8:32
  Speaker 5: So with that in mind, for some goods known as
• 8:35
  Speaker 5: inferior goods, the rising consumer income actually weakens demand. So
• 8:40
  Speaker 5: cheap domestic beer is a really good example of that.
• 8:43
  Speaker 5: Nobody wants to drink the cheap, crappy stuff, And I
• 8:45
  Speaker 5: think that that's a really good example of quote inferior goods.
• 8:49
  Speaker 5: The opposite actually happens in the case of the lipstick effect.
• 8:52
  Speaker 5: So as consumers income's full or become less stable, they'll
• 8:56
  Speaker 5: actually four go big ticket luxury items or big ticket
• 9:00
  Speaker 5: luxury purchases that they can no longer afford, and instead
• 9:03
  Speaker 5: spend their now reduced income on a smaller luxury item.
• 9:07
  Speaker 5: Right now, when I say luxury item, I'm not talking like, oh,
• 9:10
  Speaker 5: like people are stopping buying your bags, Beck, Like, oh,
• 9:14
  Speaker 5: they're not headed off to Chanelle.
• 9:15
  Speaker 2: I know.
• 9:16
  Speaker 4: I pause my der bag subscription.
• 9:18
  Speaker 1: General, you have your bag subscription. You must have a dog,
• 9:23
  Speaker 1: big dog.
• 9:24
  Speaker 2: Beck.
• 9:24
  Speaker 4: Yeah, it's pretty nice.
• 9:25
  Speaker 1: When we talk about that.
• 9:27
  Speaker 5: I feel like the word luxury, especially in twenty twenty
• 9:30
  Speaker 5: two slash twenty twenty three, has a different take. Like,
• 9:34
  Speaker 5: to me, luxury are those things that are not necessary
• 9:37
  Speaker 5: in your budget. So we're not talking about like designer goods.
• 9:41
  Speaker 5: When someone says, oh, luxury, I'm like, I immediately think
• 9:44
  Speaker 5: of designer items. I don't know about you, I immediately think, oh,
• 9:47
  Speaker 5: they must be talking about like really expensive things. But
• 9:50
  Speaker 5: luxury in this term of reference is actually just things
• 9:54
  Speaker 5: that are not necessary, so like not housing, not food,
• 9:58
  Speaker 5: not bills, like things that you know, going out for
• 10:02
  Speaker 5: a drink with your mates, that's a luxury that's not
• 10:04
  Speaker 5: a necessity. So things that are not necessary for your
• 10:08
  Speaker 5: budget or your life, if that makes sense.
• 10:10
  Speaker 1: So we're not just talking about lipstick.
• 10:13
  Speaker 5: But I feel like it's a good example, right because
• 10:16
  Speaker 5: not everyone buys it. But like, for example, I'm gonna
• 10:18
  Speaker 5: pick on you for a hot second. You dyed your
• 10:20
  Speaker 5: hair recently. I mean it was it was fun to
• 10:24
  Speaker 5: watch on Instagram and thankfully it looks really good.
• 10:26
  Speaker 1: Like I'm shocked how good your hair looks. Doesn't look good? Yeah,
• 10:29
  Speaker 1: it looks cute, You're real cute.
• 10:30
  Speaker 5: But that would be a luxury purchase, as opposed to
• 10:34
  Speaker 5: you're thinking maybe it was a deal.
• 10:36
  Speaker 4: Yeah, yeap, that makes sense. Okay. When I think of luxury,
• 10:40
  Speaker 4: I honestly don't even think that far ahead. But it
• 10:43
  Speaker 4: is while that going out for a drink with a
• 10:45
  Speaker 4: mate is a luxury.
• 10:47
  Speaker 1: Well, it totally is a luxury.
• 10:48
  Speaker 5: Like it's something that not absolutely everybody has the privilege
• 10:52
  Speaker 5: of experiencing because not everybody has the room in their
• 10:56
  Speaker 5: budget to go. Oh, I can pop out for a
• 10:58
  Speaker 5: beer with a mate, or in my be takeaway or
• 11:01
  Speaker 5: Uber Eats, or it might be you know, you buying
• 11:04
  Speaker 5: the pre prepared chicken at the supermarket as opposed to
• 11:07
  Speaker 5: just marinating it yourself.
• 11:09
  Speaker 1: Do you know what I mean?
• 11:09
  Speaker 5: Like when we say luxury, we're saying a luxury from
• 11:13
  Speaker 5: my perspective, especially as somebody who knows money is something
• 11:16
  Speaker 5: that is not necessary but makes you feel good.
• 11:19
  Speaker 4: So I guess you could probably understand that that's why
• 11:22
  Speaker 4: I had to. Well I didn't have to, but I
• 11:24
  Speaker 4: chose to bleach my hair at home as opposed to
• 11:27
  Speaker 4: going to the salon.
• 11:29
  Speaker 1: Yeah, but it's still a luxury.
• 11:30
  Speaker 5: Rat like you was still able to afford to buy
• 11:33
  Speaker 5: some bleach to do your hair. It's kind of like
• 11:36
  Speaker 5: a more affordable luxury. An affordable luxury is something that
• 11:39
  Speaker 5: I want to talk a little bit more about this
• 11:42
  Speaker 5: year because I feel like people have blown it out
• 11:44
  Speaker 5: of proportion, Like I'm on TikTok all the time. Now,
• 11:47
  Speaker 5: I don't want to talk about my usage, but like
• 11:49
  Speaker 5: I love TikTok, I'm obsessed with it. If anybody has noticed,
• 11:52
  Speaker 5: I have been posting literally twice a day on about
• 11:55
  Speaker 5: the yeah big dog energy, Let's see if I can
• 11:57
  Speaker 5: keep it up for the entirety of twenty twenty three.
• 12:00
  Speaker 5: But something that I'm finding coming up on my FU
• 12:03
  Speaker 5: page all the time is just like lots of luxury
• 12:06
  Speaker 5: goods and people being like, oh, here's my hall from
• 12:08
  Speaker 5: when I went shopping in Paris, or here's my outfit
• 12:11
  Speaker 5: of the day, and like all of those things. I
• 12:13
  Speaker 5: really like consuming because like I love shiny things. I'm
• 12:16
  Speaker 5: basically like a magpie. Like I see shiny and I'm like, ooh,
• 12:18
  Speaker 5: I need it. But it's interesting because I look at
• 12:21
  Speaker 5: it and go wow, Like your outfit of the day
• 12:24
  Speaker 5: is more than one thousand dollars, Like even a full
• 12:27
  Speaker 5: outfit that's more than three hundred dollars to me is
• 12:30
  Speaker 5: not reasonable. Like and I mean, don't get me wrong,
• 12:33
  Speaker 5: I definitely have items in my wardrobe that are more
• 12:36
  Speaker 5: than three hundred dollars so it's not about being a
• 12:38
  Speaker 5: hypocrite here. I'm just looking at it going wow, like
• 12:41
  Speaker 5: is this the new normal? Are we meant to look
• 12:43
  Speaker 5: at it and be like, oh, you're meant to be
• 12:44
  Speaker 5: wearing Chanel shoes because like, oh, there's such a good
• 12:47
  Speaker 5: staple and I get good cost per way, Like why
• 12:48
  Speaker 5: are people just anyway? We can talk about affordable luxuries
• 12:52
  Speaker 5: on another episode, but I think it's really important to
• 12:55
  Speaker 5: kind of check our imprivilege, right because regardless of what
• 12:58
  Speaker 5: our income is, as you said before, it's a really
• 13:01
  Speaker 5: good example. You were like, I, you know, didn't go
• 13:03
  Speaker 5: to the salon because to go as blonde as you
• 13:05
  Speaker 5: went would be like minimum six hundred bucks, right, Oh
• 13:09
  Speaker 5: my god, Yeah, it's so expensive. But the audacity you
• 13:13
  Speaker 5: had to take that into your own hands, like and
• 13:15
  Speaker 5: she also, guys, she put it all over her Instagram
• 13:18
  Speaker 5: and I was just like living for it.
• 13:20
  Speaker 1: Anyway.
• 13:20
  Speaker 4: It's free to get advice from strangers on the internet,
• 13:24
  Speaker 4: and I really I probably could have gone to the salon.
• 13:27
  Speaker 5: See, I feel like the thing you should have done
• 13:29
  Speaker 5: in this circumstance, okay, is probably just head down to
• 13:32
  Speaker 5: chemists warehouse or like what is that hairhouse?
• 13:34
  Speaker 1: Warehouse. Everyone did, Oh they did?
• 13:37
  Speaker 6: Everyone did?
• 13:38
  Speaker 1: What?
• 13:39
  Speaker 4: Surely they?
• 13:39
  Speaker 1: How did you do it? Tell me? Sorry, we're going
• 13:41
  Speaker 1: on a rail.
• 13:43
  Speaker 5: Did you just like go to like came out and
• 13:45
  Speaker 5: buy a packet to die and call it a day.
• 13:47
  Speaker 4: I had some bleach left over my cupb and I
• 13:49
  Speaker 4: don't know how if it was expired.
• 13:50
  Speaker 1: I was hair bleach, it was.
• 13:52
  Speaker 4: It was sink bleach.
• 13:53
  Speaker 1: I'm just kidding. It was about to go down here
• 13:56
  Speaker 1: and I was like, wow.
• 13:58
  Speaker 4: But it was several years old bleach.
• 14:00
  Speaker 5: But I thought, you sure, it's just yeah, sure, surely
• 14:03
  Speaker 5: it doesn't expire.
• 14:04
  Speaker 4: No, I don't think so. I didn't actually check. But
• 14:07
  Speaker 4: it got there in the end. I bleached it five times.
• 14:09
  Speaker 4: It turned jelly a little bit. Oh just a little bit,
• 14:12
  Speaker 4: just a little bit of it went to jelly.
• 14:13
  Speaker 1: That's all right? Is it all gone now?
• 14:15
  Speaker 4: It's look it's it's actually hanging on by literally a thread,
• 14:19
  Speaker 4: a jelly thread, a jelly thread. I can't get it
• 14:22
  Speaker 4: wet right now, I will fall out. But I got
• 14:25
  Speaker 4: there in the end. I just chucked a twelve dollars
• 14:28
  Speaker 4: silver toner through it used my old bleach.
• 14:32
  Speaker 5: I'm surprised at how good it looks given that experience.
• 14:35
  Speaker 5: But for those of you who are playing along at home,
• 14:36
  Speaker 5: I'd probably head to hairhouse, wearhouse and just ask someone
• 14:39
  Speaker 5: there say, look, I'm going to be dyeing my hair
• 14:41
  Speaker 5: at home on my own.
• 14:43
  Speaker 1: What would you.
• 14:43
  Speaker 5: Recommend I do to make sure I don't pull a
• 14:46
  Speaker 5: jelly beck? Speaking of hanging on my threadback, let's go
• 14:49
  Speaker 5: to a quick break, and then when we get back
• 14:51
  Speaker 5: we'll re establish and actually talk about the lipstick index.
• 14:53
  Speaker 4: Okay, perfect sounds good. All right, the we are back,
• 15:00
  Speaker 4: we're talking about the lipstick index today. I guess I'm
• 15:04
  Speaker 4: wondering what else does well because I know it can't
• 15:08
  Speaker 4: just be lipstick? Is it all cosmetics? What are the
• 15:10
  Speaker 4: other little things that do well in a time?
• 15:12
  Speaker 5: Obviously it's not lipstick, because as you said before, you're
• 15:15
  Speaker 5: not ellipstick kind of gal, and you're not going to
• 15:17
  Speaker 5: go buy ellipstick. But I guarantee there's like small luxuries
• 15:21
  Speaker 5: that you would be putting your money into. So it
• 15:23
  Speaker 5: could be anything. It could be skin care, it could
• 15:25
  Speaker 5: be perfume, it could be premium hair care because and
• 15:29
  Speaker 5: when I say premium hancaan, we're not talking about a
• 15:31
  Speaker 5: dice in air rap. Not everybody has. I think they're
• 15:33
  Speaker 5: close to one thousand dollars now, which blows my mind.
• 15:36
  Speaker 5: Absolutely worth it from my perspective, but definitely not an
• 15:39
  Speaker 5: affordable luxury, but like a bottle of Oliplex, like what
• 15:42
  Speaker 5: you were talking about before. It can be like fifty
• 15:45
  Speaker 5: bucks for a bottle of oliplex. But I would assume
• 15:47
  Speaker 5: that those sales increase during that period of time, and
• 15:50
  Speaker 5: we know those sales increase during that period of time
• 15:53
  Speaker 5: because they are seen to be more of an affordable luxury.
• 15:57
  Speaker 5: Like back to your example, You're not going to go
• 15:59
  Speaker 5: to the seal on and spend six hundred dollars getting
• 16:01
  Speaker 5: bleached hair, but you might go and go, all right,
• 16:04
  Speaker 5: I'm going to bleach my hair at home, and then
• 16:06
  Speaker 5: I'm going to buy the fifty dollars Oliplex to make
• 16:07
  Speaker 5: sure that everything is a okay and of course be
• 16:10
  Speaker 5: good to go. Things like clothing and shoes and going
• 16:13
  Speaker 5: to the movies and types of entertainment are also likely
• 16:17
  Speaker 5: to do really well during a recession. A lot of
• 16:20
  Speaker 5: people make decisions like, oh, maybe I'll just like sign
• 16:23
  Speaker 5: up for Stan instead of you know, going out as much,
• 16:26
  Speaker 5: so they justify smaller expenses because from their perspective, like, oh,
• 16:31
  Speaker 5: and please don't quote me on this fourteen bucks a month,
• 16:33
  Speaker 5: maybe I cannot remember for the life of me what
• 16:36
  Speaker 5: my Stan subscription is.
• 16:37
  Speaker 4: It's been nice, thank you, thank you.
• 16:41
  Speaker 5: So rude, but I cannot, for the life I don't
• 16:44
  Speaker 5: even think I've got stand at the moment. Just to
• 16:46
  Speaker 5: back you back into your corner fair enough, I definitely
• 16:49
  Speaker 5: have Netflix.
• 16:50
  Speaker 1: I can't remember what that is.
• 16:52
  Speaker 5: Mostly nice. You can have my login if you want to. Yeah,
• 16:55
  Speaker 5: you're welcome, You're welcome. But these are in a good
• 16:57
  Speaker 5: position as well. And then lower to me toe restaurants
• 17:01
  Speaker 5: and more premium priced.
• 17:02
  Speaker 1: Alcohol that you buy the bottle.
• 17:04
  Speaker 5: Oh, so we're not talking about people go to the
• 17:06
  Speaker 5: mid range restaurant and order a bottle of like really
• 17:09
  Speaker 5: expensive champagne. But if you went to Dan Murphy's, people
• 17:12
  Speaker 5: are more likely to, you know, treat themselves with like
• 17:15
  Speaker 5: a thirty or forty dollar bottle of wine instead of
• 17:17
  Speaker 5: the like fifteen dollar bottle of wine that they usually
• 17:19
  Speaker 5: got because they feel like they're missing out in other
• 17:22
  Speaker 5: areas of their life. Because people basically want to treat
• 17:24
  Speaker 5: themselves to something that lets them forget about their financial
• 17:28
  Speaker 5: stresses and they'll go to a movie, but they probably
• 17:31
  Speaker 5: won't go overseas because that puts way too much financial strain.
• 17:34
  Speaker 5: On before the breakback, I was talking to you about
• 17:37
  Speaker 5: TikTok and how that seems like it's just it's frustrating me.
• 17:41
  Speaker 5: Like there's so many times that I really want to,
• 17:42
  Speaker 5: like you can duet on TikTok. I feel so old
• 17:45
  Speaker 5: when I explain this, but I really want to jeet it.
• 17:48
  Speaker 5: But then I don't want to come across as like
• 17:49
  Speaker 5: condescending or rude or mean, and I'm not being that.
• 17:52
  Speaker 1: I just want to be like, hey, like.
• 17:53
  Speaker 5: This is a really good video and I really like it,
• 17:56
  Speaker 5: but like that's not reasonable to expect that a normal
• 18:00
  Speaker 5: salary and wayjourning human being would actually have a thousand
• 18:03
  Speaker 5: dollar pair of shoes and like cost per ware. Yeah,
• 18:05
  Speaker 5: like let's talk about cost per ware. That makes sense,
• 18:08
  Speaker 5: but like on a thousand dollars pair of shoes, that's
• 18:10
  Speaker 5: still not reasonable from my perspective.
• 18:12
  Speaker 4: You're a vigilante, I think you should do it.
• 18:14
  Speaker 5: Oh yeah, but I don't want to be rude because
• 18:16
  Speaker 5: it's kind of like their intent is really beautiful, but
• 18:19
  Speaker 5: it's also like, can we reframe this because normal people
• 18:23
  Speaker 5: cannot afford that, Like that's not normal, Like that content
• 18:26
  Speaker 5: isn't normal. Anyway, My point there is that social media
• 18:29
  Speaker 5: really does play a big part in determining what category
• 18:32
  Speaker 5: benefits from the lipstick effect based on trends and what
• 18:35
  Speaker 5: you're seeing on social media and consuming it.
• 18:37
  Speaker 4: Sounds like literally all I spend my money on during
• 18:40
  Speaker 4: good times and bad times.
• 18:41
  Speaker 5: I wonder like, oh, I'm just spending money. That's why
• 18:44
  Speaker 5: have you on the show. Because I feel like we've
• 18:46
  Speaker 5: got work to do. Yeah, okay, I've got a lot
• 18:49
  Speaker 5: to learn. I've got a lot to learn. But I
• 18:50
  Speaker 5: guess my question is what are we actually cutting back
• 18:53
  Speaker 5: on then? So obviously big ticket stuff, so all of
• 18:56
  Speaker 5: the opposites of everything that I just said, so like
• 18:59
  Speaker 5: expensive restaurants and going on holidays. But we also see
• 19:03
  Speaker 5: it in the statistics around like home sales, So people
• 19:06
  Speaker 5: aren't buying big luxury homes, they're not even buying their
• 19:09
  Speaker 5: average standard home. Because during a time of recession, often
• 19:13
  Speaker 5: our interest rates increase to kind of juxtapose what's going
• 19:17
  Speaker 5: on and make things go back to normal. So during
• 19:19
  Speaker 5: a period of time where we're in a recession, it's
• 19:22
  Speaker 5: much less likely that people are buying their first family homes.
• 19:26
  Speaker 5: It's less likely that people are going out and buying
• 19:28
  Speaker 5: brand new cars, even if they need them. They're more
• 19:31
  Speaker 5: likely to kind of push that purchase off because we're
• 19:33
  Speaker 5: a bit anxious about it. So anything from you know,
• 19:37
  Speaker 5: electronics and you know, white goods and stuff like that,
• 19:39
  Speaker 5: all the way through to big home renovations. Like, people
• 19:42
  Speaker 5: aren't going to agree to, you know, chucking one hundred
• 19:44
  Speaker 5: thousand dollars into their home if they're seeing their friends
• 19:47
  Speaker 5: and family go through rough financial periods of time. And
• 19:50
  Speaker 5: it's not because they don't want their friends and family
• 19:52
  Speaker 5: seeing that, they kind of get an idea in their
• 19:55
  Speaker 5: head that they're like, oh, I could be next. So
• 19:57
  Speaker 5: this period of time, we're cutting back on this. But
• 20:00
  Speaker 5: I think it's really important to then be thinking about, right, well,
• 20:03
  Speaker 5: where are our emergency funds? How much do I have saved?
• 20:06
  Speaker 5: Do I maybe want to have a little bit more
• 20:08
  Speaker 5: saved if I'm anxious? And how does that work? So
• 20:11
  Speaker 5: if you haven't got an emergency fund and you haven't
• 20:14
  Speaker 5: really thought about it until twenty twenty three, and twenty
• 20:16
  Speaker 5: twenty three is your year to get your financial stuff sorted,
• 20:19
  Speaker 5: that would be the place that I start, because Beck,
• 20:22
  Speaker 5: I'm such a big believer in financial freedom being accessible
• 20:27
  Speaker 5: at any income, and I know that that seems to
• 20:29
  Speaker 5: be a little bit backwards because to a lot of people,
• 20:32
  Speaker 5: financial freedom means that.
• 20:33
  Speaker 1: You never have to go to work and you've got
• 20:35
  Speaker 1: like this big.
• 20:35
  Speaker 5: Investment that pays you enough each and every single month
• 20:38
  Speaker 5: or year to exist without work. Right, But from my perspective,
• 20:42
  Speaker 5: financial freedom isn't just that, like, yes, that's the big outcome,
• 20:46
  Speaker 5: Like that's big dog energy.
• 20:48
  Speaker 1: That's the energy.
• 20:48
  Speaker 5: Yeah, exactly, that's so exciting. But we can't have that
• 20:51
  Speaker 5: in the here and now. But what can give us
• 20:53
  Speaker 5: financial freedom is an emergency fund so that if something
• 20:57
  Speaker 5: pops up, or an unexpected bill or an emergency happens,
• 21:00
  Speaker 5: we have the financial freedom to pay for that and
• 21:03
  Speaker 5: not go into debt or to go, Oh it doesn't matter,
• 21:07
  Speaker 5: that's okay. I'm going to pay for flights to go,
• 21:09
  Speaker 5: you know, see a sick parent or relative into state
• 21:12
  Speaker 5: because I have the money for those flights and I
• 21:14
  Speaker 5: don't have to second guess it. And to me, that
• 21:16
  Speaker 5: is a really, really big part of financial freedom is
• 21:19
  Speaker 5: setting yourself up so that you don't have to say
• 21:21
  Speaker 5: no because you can't afford it. And I mean, when
• 21:24
  Speaker 5: it comes to an emergency fund, we're not saying.
• 21:26
  Speaker 1: Go to Europe with your girlfriends like that to me,
• 21:29
  Speaker 1: is not what your emergency fund is for.
• 21:31
  Speaker 5: It's more for those things that pop up so that
• 21:34
  Speaker 5: you can either get into a situation you need to
• 21:37
  Speaker 5: be in or get out of a situation that you
• 21:39
  Speaker 5: don't want to be in. Like Beck, what if one
• 21:41
  Speaker 5: day you went home and all your housemates were They've
• 21:43
  Speaker 5: gone rancid. They have absolutely gone feral, and you can't
• 21:46
  Speaker 5: live right. Yeah, they've ruined the house, they've decided to
• 21:51
  Speaker 5: grow drugs in the laundry or something, and you're like,
• 21:53
  Speaker 5: I can't live here anymore. But if you didn't have
• 21:55
  Speaker 5: the finances to get yourself out of that circumstance, you
• 21:58
  Speaker 5: might just be stuck there. But financial freedom is having
• 22:02
  Speaker 5: enough finances behind you to get out of any circumstance
• 22:05
  Speaker 5: or situation you don't want to be in because you
• 22:08
  Speaker 5: shouldn't have to be in that. And that doesn't matter
• 22:10
  Speaker 5: whether that's a housemates situation or a relationship, or even
• 22:14
  Speaker 5: just you're on a holiday and you want to fly
• 22:16
  Speaker 5: home because you're no longer come forgive it with the
• 22:17
  Speaker 5: friends that you're with, right, Like, I think financial freedom
• 22:20
  Speaker 5: to me means so much more. And if we're talking
• 22:23
  Speaker 5: about what people are cutting back on, I think that
• 22:25
  Speaker 5: we also need to really juxtapose that with well, where
• 22:28
  Speaker 5: should we be putting our money during this period of time,
• 22:31
  Speaker 5: because I think a lot of people just get anxious
• 22:33
  Speaker 5: and then stop doing anything, and then they see all
• 22:36
  Speaker 5: of these smaller things and you might not be spending
• 22:38
  Speaker 5: you know, you might go, oh, financial times are tough.
• 22:41
  Speaker 5: Let's not spend seven hundred and fifty dollars on a
• 22:43
  Speaker 5: new washing machine.
• 22:44
  Speaker 1: We'll put that off. That makes sense.
• 22:46
  Speaker 5: But if then you're not thinking about your money and
• 22:49
  Speaker 5: you're going to Priceline every couple of weeks and spending
• 22:52
  Speaker 5: thirty dollars here in there, like that's going to add
• 22:54
  Speaker 5: up to that seven hundred and fifty dollars and you've
• 22:57
  Speaker 5: lost that money. And if I put a pile of
• 22:59
  Speaker 5: my cup on the bench, and also the washing machine,
• 23:02
  Speaker 5: is that beck? Which one do you want? You'd be like, well,
• 23:04
  Speaker 5: I needed the washing machine. But because you had your
• 23:06
  Speaker 5: head in the sand, that money fell to the wayside
• 23:09
  Speaker 5: and you didn't actually make the most of your financial circumstances. So,
• 23:12
  Speaker 5: from my perspective, yes, we're cutting back on things, but
• 23:15
  Speaker 5: it should be really purposeful and we should be really
• 23:18
  Speaker 5: thinking about it.
• 23:19
  Speaker 1: Thank you for coming to my TED talk.
• 23:22
  Speaker 4: Financial freedom actually sounds like heaven. It's so sick, it's
• 23:26
  Speaker 4: kind of sexy. I feel like that could be the
• 23:28
  Speaker 4: life for us. I mean, I mean for you, it's
• 23:30
  Speaker 4: already maybe you've already they had it.
• 23:32
  Speaker 5: Well, I do have an emergency fund, and that's something
• 23:35
  Speaker 5: that makes me feel really good about the circumstances that
• 23:38
  Speaker 5: I have.
• 23:39
  Speaker 1: Like, you know, what if I didn't want to be
• 23:41
  Speaker 1: with Steve anymore? Well, I don't. I love him. I
• 23:45
  Speaker 1: don't want to make that decision. I love him so much.
• 23:48
  Speaker 4: To decide right now.
• 23:49
  Speaker 5: Yeah, but like what if something happened like that? Is
• 23:52
  Speaker 5: the one thing that keeps people in relationships they don't
• 23:55
  Speaker 5: want to be in is finances. Like I don't think
• 23:57
  Speaker 5: anyone in our community should be in that circle ccumstance.
• 24:00
  Speaker 5: And when I say relationships, we're not just talking about
• 24:02
  Speaker 5: your partner. We could be talking about your family circumstances.
• 24:05
  Speaker 5: We could be talking about your work, your relationship with
• 24:08
  Speaker 5: your boss, that's a relationship too. And what if it's
• 24:11
  Speaker 5: such a toxic environment that you need to leave but
• 24:14
  Speaker 5: you can't because you don't have the funds behind you.
• 24:16
  Speaker 1: What if I said, oh, Beck, well you've actually.
• 24:18
  Speaker 5: Got three months worth of savings, like you could quit
• 24:20
  Speaker 5: now and look for another job and actually everything would
• 24:22
  Speaker 5: be okay, and your mental health is absolutely the biggest
• 24:25
  Speaker 5: priority right now. You'd be like, Oh, that takes the
• 24:27
  Speaker 5: pressure off, taking their pressure off ourselves.
• 24:31
  Speaker 4: Yeah.
• 24:31
  Speaker 5: So anyway that we've talked about emergency funds before, I
• 24:35
  Speaker 5: keep talking about them literally forever, but they're really.
• 24:38
  Speaker 4: So important now, just coming back to the lipstick index, Yes,
• 24:41
  Speaker 4: is that what this episode is about? Yeah, I actually forgot.
• 24:43
  Speaker 5: I just have so much stuff that I want to
• 24:45
  Speaker 5: give you guys this year that I'm like, let's pack
• 24:47
  Speaker 5: it into this episode.
• 24:48
  Speaker 4: We really appreciate it. You were mentioning before V that
• 24:50
  Speaker 4: it's easier to make little, cheap, superficial changes than costly
• 24:54
  Speaker 4: ones when we're financially under pressure. Do you think there's
• 24:58
  Speaker 4: like a deeper psychological behind what makes lipstick cosmetics other
• 25:03
  Speaker 4: beauty products so popular at a time like.
• 25:05
  Speaker 1: This, Yeah, one hundred percent.
• 25:06
  Speaker 5: So there was actually a study that was done in
• 25:08
  Speaker 5: twenty twelve, so a while ago. Do you know, twenty
• 25:11
  Speaker 5: twelve was actually ages ago, It was more than ten
• 25:13
  Speaker 5: years ago. It doesn't feel that way though. It's twenty
• 25:15
  Speaker 5: twenty three. Wild anyway, But this study done in twenty
• 25:18
  Speaker 5: twelve found that the lipstick effect is deeply rooted in
• 25:21
  Speaker 5: mating psychology. No, yeah, sexy, right, so that's sorry. Sarah Hill,
• 25:27
  Speaker 5: who was the person behind the study, found that during quote,
• 25:30
  Speaker 5: periods of scarcity, women see a decrease in the availability
• 25:35
  Speaker 5: of quality mates. So Hill has said that because unemployment
• 25:39
  Speaker 5: and low returns on investments occur at a higher rate
• 25:42
  Speaker 5: during recessions, a recession makes signal to women that financially
• 25:47
  Speaker 5: secure men are becoming relatively scarce. Okay, And while this
• 25:51
  Speaker 5: might seem really superficial, and from my perspective, I think
• 25:54
  Speaker 5: that financial security in a partner, any partner, is very sexy.
• 25:58
  Speaker 5: Hill has conducted four separate experiments, not just one, not
• 26:02
  Speaker 5: just one, and all have said, yes, that effect does exist,
• 26:06
  Speaker 5: and that times of economic stress see an increase in
• 26:09
  Speaker 5: women's desire to buy products like lipstick or designer genes
• 26:13
  Speaker 5: or high heeled boots and perfume and they're just not
• 26:16
  Speaker 5: interested in men as much or not interested in having
• 26:19
  Speaker 5: a partner as much because they're like, man, they're not
• 26:21
  Speaker 5: that financially secure.
• 26:22
  Speaker 1: Get in the bin. I'm gonna go make.
• 26:24
  Speaker 5: Myself look chic and ten out of ten and I
• 26:27
  Speaker 5: find it's super super interesting and obviously beg that's super
• 26:29
  Speaker 5: heteronormative and not relate. No, No, That's why I was like,
• 26:34
  Speaker 5: probably not related to you, but on a base mating level,
• 26:39
  Speaker 5: Like if women are looking at men in general, something
• 26:42
  Speaker 5: that women from a psychology perspective look for when they
• 26:46
  Speaker 5: are looking for a male partner is a level of security.
• 26:50
  Speaker 5: So it kind of makes sense that this makes sense.
• 26:53
  Speaker 5: I'd be interested to see if that experiment in twenty
• 26:56
  Speaker 5: twenty three could be pushed out, because you know, during
• 26:59
  Speaker 5: this period of time it's a recession. We could do
• 27:01
  Speaker 5: the research again, and I would like to see it
• 27:03
  Speaker 5: as a if people in general are looking for a partner,
• 27:07
  Speaker 5: what would that look like during a recession, because I
• 27:09
  Speaker 5: think that would actually be extra juicy.
• 27:11
  Speaker 4: I mean, it's twenty twenty three. I feel like the
• 27:13
  Speaker 4: results will be a little bit different.
• 27:14
  Speaker 5: I just think in general people will be like, oh,
• 27:17
  Speaker 5: I don't want to partner. I don't want to have
• 27:18
  Speaker 5: to pay for going on dates.
• 27:19
  Speaker 1: You know, Like, I don't think this has got anything.
• 27:21
  Speaker 4: To do with gender.
• 27:22
  Speaker 5: You're like, I don't want to go on a date
• 27:23
  Speaker 5: because I don't want to have to pay for it,
• 27:25
  Speaker 5: And like, what if I have to pay for the
• 27:26
  Speaker 5: whole date?
• 27:27
  Speaker 1: Hell no, let's just not do it. I'm a buy
• 27:28
  Speaker 1: myself a lipstick. Exactly.
• 27:30
  Speaker 4: It's expensive dating and that's why I'm still very much single.
• 27:35
  Speaker 2: Ah.
• 27:35
  Speaker 5: That's that's a suggestion to those in the community that
• 27:38
  Speaker 5: might find backing, yes, moving on anything.
• 27:43
  Speaker 4: So v can I ask what's an affordable luxury to you?
• 27:46
  Speaker 6: Ah?
• 27:46
  Speaker 5: This is such a good question because I feel like
• 27:49
  Speaker 5: so many this is a trend on TikTok at the moment, too,
• 27:51
  Speaker 5: all I'm doing is talking about TikTok because we've just
• 27:53
  Speaker 5: come back from holidays and like, I spent a lot
• 27:55
  Speaker 5: of time on the internet. But for me, having thought
• 27:58
  Speaker 5: about this over the brain, I feel like an affordable
• 28:01
  Speaker 5: luxury obviously, like fluffily, enough is time.
• 28:06
  Speaker 1: But if I've got some time, I want.
• 28:08
  Speaker 5: Fresh sheets, beck, like real crispy fresh sheets and a
• 28:12
  Speaker 5: cup of tea in bed with a book and literally
• 28:15
  Speaker 5: nowhere to be like like a Sunday morning. Like to me,
• 28:18
  Speaker 5: that's a really good affordable luxury where it's kind of
• 28:21
  Speaker 5: like I'm enjoying my time, like I'm snuggy, I'm having
• 28:25
  Speaker 5: a good day, Whereas to somebody else they'd be like,
• 28:28
  Speaker 5: I hate spending time in bed, Victoria, like from wake,
• 28:31
  Speaker 5: I'm up and out, like my business partner Kate, like
• 28:33
  Speaker 5: I cannot imagine her lying in bed and enjoying it.
• 28:35
  Speaker 1: But what about you, what's an affordable luxury?
• 28:39
  Speaker 4: Well, yours sounds actually very wholesome, and mine won't sound
• 28:42
  Speaker 4: very wholesome.
• 28:42
  Speaker 1: It's okay, we are who we are, beck, Are you
• 28:45
  Speaker 1: gonna say hair bleach?
• 28:47
  Speaker 4: I think so.
• 28:48
  Speaker 1: I knew you would, but I think that's good.
• 28:51
  Speaker 4: An affordable luxury to me would be going to the
• 28:54
  Speaker 4: pub with mates, to sitting around in the bier garden,
• 28:57
  Speaker 4: and I usually get a soda water believe it or not,
• 28:59
  Speaker 4: fit so it's still actually I do.
• 29:02
  Speaker 1: I'm smart, all man, thank you. Sometimes they're free too.
• 29:05
  Speaker 1: Sometimes they're free.
• 29:06
  Speaker 4: They're either free or max two dollars.
• 29:08
  Speaker 5: Yeah, yeah, yeah, that's an affordable luxury and affordable luxury.
• 29:11
  Speaker 5: But I also think it really depends on who you
• 29:13
  Speaker 5: are and what that looks like. Because we're talking about
• 29:16
  Speaker 5: this before the show, and I was like, oh, like,
• 29:18
  Speaker 5: another thing that I really like is a good coffee,
• 29:21
  Speaker 5: Like and I think that's an affordable luxury that fits
• 29:23
  Speaker 5: into my budget, and to me, that's one thing that
• 29:26
  Speaker 5: I won't remove from my budget. So like Steve and
• 29:28
  Speaker 5: I go for a walk every morning with our dog Lucy,
• 29:31
  Speaker 5: and we go to the cafe and we get a coffee.
• 29:33
  Speaker 5: And you could say, oh, eye, but you'd save so
• 29:35
  Speaker 5: much money if you made.
• 29:36
  Speaker 1: The coffee at home.
• 29:37
  Speaker 5: And I'm like, oh, but that's like a luxury to me,
• 29:39
  Speaker 5: Like that's something yeah, like we love the experience. I
• 29:42
  Speaker 5: love a good coffee, and I think it's to me
• 29:45
  Speaker 5: that makes sense. But then there are other people that
• 29:46
  Speaker 5: would be like, oh, I cut coffee out of my
• 29:48
  Speaker 5: budget and I save twelve hundred dollars a year, and
• 29:50
  Speaker 5: like that makes sense because that might not be worth
• 29:52
  Speaker 5: it to you. So I think this concept of affordable
• 29:55
  Speaker 5: luxuries is really personal and I think that's really good.
• 29:59
  Speaker 5: But the thing that then overlays on that is to me,
• 30:02
  Speaker 5: and this might sound really fluffy, but it's she's on
• 30:04
  Speaker 5: the money.
• 30:05
  Speaker 1: So Bear with me is a.
• 30:07
  Speaker 5: Level of gratitude as well. So to think about affordable luxuries,
• 30:11
  Speaker 5: you actually have to put your gratitude hat on and go, oh,
• 30:14
  Speaker 5: like what am I grateful for?
• 30:15
  Speaker 1: That's maybe not you know.
• 30:17
  Speaker 5: A flat screen TV or going to Europe or like
• 30:20
  Speaker 5: something really big, Like what are the little things in
• 30:22
  Speaker 5: life that are affordable to me that make my life
• 30:25
  Speaker 5: better or make my life good?
• 30:27
  Speaker 1: And I've got a million of them.
• 30:28
  Speaker 5: I'm gonna make TikTok series on like my favorite afford
• 30:31
  Speaker 5: trees because I have heaps of them. Do you know
• 30:34
  Speaker 5: what another or one of my favorite affordable trees is.
• 30:36
  Speaker 5: Oh my gosh, it's so lame. Are you ready please? Okay,
• 30:40
  Speaker 5: so try so when I travel, Like, one thing that
• 30:44
  Speaker 5: I really like is the face washers, So like you know,
• 30:47
  Speaker 5: like a fresh clean face washer.
• 30:50
  Speaker 2: God.
• 30:51
  Speaker 5: So I went to Kmart and I bought like ten
• 30:53
  Speaker 5: of them because they're like a dollar at Kmart, and
• 30:55
  Speaker 5: I roll them up and I have a little tray
• 30:57
  Speaker 5: in my bathroom. Yeah, and every time I get in
• 30:59
  Speaker 5: the show, I have a brand new face washer. And
• 31:02
  Speaker 5: I know that, like, maybe that's normal to some people.
• 31:04
  Speaker 5: And I know some people because growing up I had
• 31:06
  Speaker 5: a face washer, and I just like left it hanging
• 31:09
  Speaker 5: in the bathroom and I just used the same one,
• 31:11
  Speaker 5: but I then like hang it over the side of
• 31:13
  Speaker 5: the shower and chuck it in the washing basket and
• 31:15
  Speaker 5: like it just goes through with.
• 31:16
  Speaker 1: The normal load.
• 31:17
  Speaker 5: Sure, but that those ten face washers cost me ten
• 31:19
  Speaker 5: bucks and I feel so lux when I use them.
• 31:23
  Speaker 5: I'm like grab my rolled up thing and I'm like
• 31:24
  Speaker 5: ready and I use my nice face wash and I
• 31:26
  Speaker 5: do that anyway. It's really lame, but to me that
• 31:30
  Speaker 5: makes me feel good. So affordable luxuries could literally be
• 31:33
  Speaker 5: anything like it's the way I'm washing my face back now,
• 31:36
  Speaker 5: I think is a little bit luxul But how can
• 31:40
  Speaker 5: you incorporate more things into your life that make you
• 31:43
  Speaker 5: feel good about the processes that you're going through? And
• 31:46
  Speaker 5: if me spending ten bucks on ten little face washers
• 31:48
  Speaker 5: from Kmart made me feel good one hundred percent great
• 31:51
  Speaker 5: affordable luxury and the last lifetime, well.
• 31:54
  Speaker 1: I don't know. I don't know.
• 31:55
  Speaker 5: Do you get them from Paymart and pro brand and
• 31:57
  Speaker 5: pro brand We don't know how long they're gonna last month,
• 32:00
  Speaker 5: but they definitely will be worth for ten bucks.
• 32:03
  Speaker 1: I've paid for that, Oh for sure, one hundred.
• 32:05
  Speaker 4: Actually, you've really talked me into it. How about let's
• 32:08
  Speaker 4: leave it here then I'm going to head off and
• 32:09
  Speaker 4: go by myself a ten one dollar face washers. Yeah,
• 32:13
  Speaker 4: and we'll meet back here soon.
• 32:15
  Speaker 5: I love it all right, guys, I am done for today,
• 32:18
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• 32:20
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• 32:23
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• 32:29
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• 32:38
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• 32:41
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• 32:46
  Speaker 5: of your first ever deep dive.
• 32:48
  Speaker 4: Thank you so much, f that was a lot of fun.
• 32:50
  Speaker 1: I'm so excited about that.
• 32:51
  Speaker 4: I am so excited. I'm so excited for twenty twenty three.
• 32:54
  Speaker 1: Let's let's do it.
• 32:55
  Speaker 4: Match it out the part all right, See you on Friday, guys,
• 32:57
  Speaker 4: see you Friday.
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