Hello.
My name's Santasha Nabananga Bamblet. I'm a proud yr the Order Kerney Whoalbury and a waddery woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on a wondery country, acknowledging the elders, the ancestors and the next generation coming through.
As this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow.
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She's on the Money. She's on the Money.
Hello, and welcome to She's on the Money podcast for people who love a bargain. My name is Becksided and as usual, I'm joined by Victoria Divine.
Hello, Bet Divine Victoria.
I am very excited about this episode because anything I love a little bargain and one of the biggest bargain days ever is coming up. And people have already been dming me. They're like, Victoria, I don't mean to enable you, but look at this list of discounts. I'm like, look, I'm probably not gonna post it to my stories, but I am going to do a little sneaky screenshot so
I can save it for myself for later. Yes, So like not mad, just kind of trying not to enable the rest of the community because I think so many of us are a little bit like tap happy, and spending is like really hard to control when there's a big sale. So what are we talking about today? Beck?
Okay, So it's a dangerous time of year. We are talking about Black Friday. We are the slippery slope. And if you have even an ounce of self control, I feel like you're kind of safe. But I don't, and anyone like I don't.
I don't have any need to.
Do I because I got ADHD. You know, there's so many people in the same boat as us, But we should not have been put on a podcast together, like who did this?
A financial Potrida did this?
I did this. When picking a new co host, I was like, Beck, do you want to come on the pod? And You're like yes, And now we just like get together and vibe off each other. And I don't do any work.
We're very bad influence.
Let's go shopping.
But we have touched on Black.
Friday before, and I wonder what actually is it all right?
So Black Friday actually originated in America, which I've just come back from, and is a huge sale that is post their Thanksgiving. It's held on the fourth Friday of November each and every single year, and officially finishes on the following Monday, which they call Cyber Monday. Nowadays, it's obviously now grown beyond America and is an international event that spans long past the last Friday in November. Because if brands are good at anything, it is milking a
sale that drives revenue. It's like, if I had a product based business, I'd be like, well, Black Friday every day back, but you might actually start seeing sales advertised at the beginning of November or even earlier than that. I feel like I've been seeing all of these posts and people have been sending me like Black Friday cheat codes and stuff since early October, so I don't think
it is uncommon for them to start early. But like, if again, I had a product based business, you best believe I'd be like, hey, Beck, we're having a sale. Keep an eye out, you know.
Yes, very very cheeky and effective.
Yeah it is one recent of the time, but yes it is a very hectic time of year and it is coming up soon, so it can be quite overwhelming for a lot of people, especially if you've been saving and you feel like this urge to just spend, spend, spend, especially because it's like, oh, well, it's just one time of year where everything I want is on special.
So it may as well spend.
But it's probably not.
Maybe as smart as we it's not.
We can be smart, though, can It's what we do in the She's on the Money community totally. We absolutely need to be smart with this because even though people are sending me the cheat codes and people are letting me know that these sales are happening, I actually have a little list in my phone of things I want to purchase because it's no secret now that I'm having a baby next year. Yes, they're so expensive bet so I've got like this list of things that I know
I need to purchase. But my plan is to purchase them during the Black Friday sales because I've heard on the grapevine that's like the best discount I can get for the products I'm looking for. So, like, I think we need to have a bit of a plan going into it.
Okay, I did want to touch on the amount that we spend. I want to know, like, how much you think we spend on average.
On Black Friday?
Many many, many, many many dollars, so many dollar rus So NAB did some research last year and the NAB transaction data from last year's Black Friday show to the following beck, I've got three dot points for you. Australia spent a whopping seven point one billion dollars billion, nearly one billion dollar more than was predicted by the Australian Retailers Associate. NAB says the biggest spend increase happened in Victoria and Tasmania up twenty percent, followed by ACT and
WA up seventeen and twelve percent respectively. In fact, the AARA says we get twenty five percent of our Christmas shopping done and dusted, oh Black Friday. Which that's smart people doing smart things.
Yeah, that's the sounds are bad.
Christmas spending is expensive. Why do you think we're talking about this now?
Huh oh smart, We're.
Smart, but we also want you to get your ducks in a row and if you can save some money going into arguably the most expensive period of the year. Like I want you to have all the tips and tricks and tools, so I guess you are empowered instead of being disempowered during this period of time because like so many of us regret spending. But if we have a plan and you're spending on things that you arguably had to anyway, is that not a money winback.
I'm just curious though, like, are these sales good or is it just like the way it's marketed to us, like we actually saving money? Or is it just the way that like our brains work.
Why not? So the A Triple C. This is real snaky beck.
Okay.
They say that some retailers increase prices for a short period immediately before their sales periods in order to justify their discount claims during the sales. Unacceptable, that'scting. That is not cool. That's why the A Triple C is stepping in there. What's more is that Black Friday can be very costly for the environment, which I think we need
to touch on as well. Yes, because according to a study done by money dot co dot UK, black Friday in the UK alone was expected to emit three hundred and eighty six thousand, two hundred and forty three tons of greenhouse gas emissions, which is the same weight as three thousand, six hundred and seventy nine blue whales. Oh that's a lot of whales.
That's a lot of whales.
So from my perspective, it is worth questioning what the true cost of these sales because as much as we can save some dollar us, especially on things we were going to buy anyway, there's clearly a overspend happening, regardless of whether you're kind of justifying it, Oh, it's for Christmas or whatnot. Like we all know that you're not just buying clothes and apparel for Christmas, you know, come on to you. We can justify it so far, but like, let's be reasonable too, yes, exactly.
Wow, are you actually making me question a lot of my recent purchases, which is.
Probably sorry, no, it's probably good. But I think, why aren't your questioning the vape purchasers? Weird?
Oh look that's the one that I like too.
That's an investment, according to you, into shortening.
Your life anyway, move on exactly, which actually is going to save money because you.
Know what, if you would like something to be reframed, we're going to start a new segment on the show called Reframed by Beck, she would take your shitty life situation and make it look amazing.
Make it positive exactly. I think it's a really good place to quickly ponder. Let's go on a quick break.
T you're gonna have a bait.
I'm gonna have a babe, We're gonna have a tea god with so in sync.
No, we're not in sync. I'm not on that page back.
You're not gonna vape. That's true.
All right, let's have a quick break, and then once we come back, we're gonna help you get the most out of Black Friday deals without the regret sligh. Okay, we are back in black No, you didn't Friday.
Yeah I knew where that was going.
I just want everyone to know, everyone listening, that wasn't my joke, our producer, No, do not try.
I would never say something so bad.
Yes you would.
I would actually.
But we are back, and we're talking about Black Friday, and it can be very tempting to see a good sale and throw cash into it immediately without thinking. So how important is it to go into this period with a plan.
I would say very important. I mean I am an ex financial plan nerve. So if you ask me if a plan is essential, and then I say no, it's invalidating my entire career. So we're gonna go and say yes, the plan is essential. But I have some stats and facts to back up why I say that.
Let's go there.
So a self financial study recently showed that forty two percent of people actually ended up regretting their Black Friday sales purchases. No surprise is there. A lot of items on sale on Black Friday are arguably unnecessary, unwanted, cheap goods made from poor quality, unsustainable materials, and we can be duped into buying things that we don't actually want because of urgency traps and FOMO and unethical practices from retailers. How many times on the show Beck have I said
put twenty four hours between you and you're spending. Many times, many times no one listens. That's why we're still here. But I think it's really important on Black Friday, especially to remember that the sale will probably still be there tomorrow, and if you are making a plan to purchase, then you're putting more than twenty four hours between you and your spending. So like, give a little bit of context here.
There are a few things that I really want from a and say high end retailer, but like they're middle Like they're a furniture company, and I know that they usually have a thirty percent off sale during Black Friday, and I want to purchase from them this little bookcase they have and like a chest of draws for my nursery, right, so I know that's what I want to purchase, and going in, I'm already planning that I know where they're
going to go. I'm a psycho, so I have got the masking tape out and put it on the floor in the nursery just to make sure that it fits. But it's one of those things where I've planned this purchase so I will on Black Friday make a really big purchase. But I've known for weeks that that's what I want to do, and I want you to be in the same position totally. I don't actually want you
and no shade to the Iconic. I'm obsessed with the Iconic, but it's like going into Kmart, I cannot walk away from that app with the one thing I went there for, Like I have to go on to the Iconic and then I put one thing in my bag and then it's like you might like this. I'm like, how did you know?
How?
I need that too?
You know me so well, you know me so well.
I love you guys, and then I end up spending so much more. We need to be really cautious of that happening on the platforms that we already are comfortable with that are gonna have even better sales because you just know the Iconic is gonna have a sleigh sale right totally. This isn't sponsored. I just know what's gonna happen.
We just know we can always right, just know.
So I think it's really important to understand that. But in combination with all of that, Commonwealth Bank card data is showing that we are actually spending individually approximately five hundred dollars each on Black Friday sales. So that's five hundred bucks, from my perspective, straight down the drain for nearly half of all of us every single year. So five hundred dollars that gets wasted when the cost of
living crisis is so high, I think is exorbitant. So will I be making a five hundred dollar purchase this Black Friday? Yes?
But the takeaway is yes, we will be spending wee.
No, But it's also really important to go okay, cool, Yes, they collect all of this awesome data and say, oh, I'm Black Friday back. We can see that people spend more. Sure are those people spending more because they're like me and they're priming these purchases and going, well, I'm not going to buy it when I know in a couple of weeks Black Friday is going to happen and I'm going to get thirty percent off those goods that I was going to buy anyway, in which case I'm happy
to be part of that number. I don't mind. But is it us spending five hundred dollars because it was one am? I got another notification in my emails when I was meant to be sleeping, but I was scrolling TikTok, I clicked it, I went to the iconic and went down a rabbit hole and now I have a new wardrobe.
Is that what happened?
Or did I actually plan that purchase? So we need to be really careful that we know the difference between the two. And obviously there are some tips and tricks to avoid that slippery slope.
Yes, absolutely great advice.
Fee.
I'm just here trying my best, you know, and your best is good enough. Sometimes my best is not good enough, but today it will do.
Personally, I can't afford to just drop five hundred dollars or some crappy sometimes not crappy.
Just most people can't just FYI like, it's not actually normal to re I guess iterate this. I've said this on the podcast before as well. The average Australian does
not have access to five hundred dollars in an emergency. Yes, so the fact that we are then spending five hundred dollars during Black Friday sales that we might not have, especially when you're saying I can't afford to spend five hundred bucks feet on just stuff that I didn't need, well that makes sense because most Australians don't have access to five hundred dollars in an emergency if they're like car tires, blue or something, so I just in a cost of living crisis. It just blows my mind how
much we are spending. At the same time as being like, oh, I kind of get it if you're like me and you're planning your purchases. But that's why we need to talk about it. Yeah, like it's not all bad. As I said earlier, some of us are actually, like, you know, knocking off what twenty five percent of our Christmas shopping during this period, And that's to me quite smart because you were going to spend that anyway.
Yes, So okay, how do we plan this? What does that look like? Okay?
So I have written down a list. I have like maybe seven or eight dot points. As you guys know, I love a dot point because we can be efficient and quick and get the information in your ear holes as soon as possible. So first things first, I've written down make a list of items that you want to purchase. If you're like me, you have an album on your phone where you have screenshop people's tiktoks of stuff that
you want, Yes, play great. Is there something you've been saving up for and you can actually get for a cheaper price during this period of time? Do you actually have a list of presents that you want to buy and get during this time? If you say no, but you do Christmas shopping, now is the time to do
a Christmas buying list. There's a free Christmas shopping list on our website if you want to go download it where it says, put down all of your friends and family names, how much is your budget, what are you purchasing for them? How could that work? And I think that that can really help you go wow, like, oh, I allocated fifty bucks to each person, because in your
head that's not that much. And then when you see it compounded and the list of names down the side of the page, and you go, that's now one thousand dollars on Christmas, you might go back to the drawing board and be like, do you know what We're going to do some DIY. We're going to make Christmas cards this year. And I think that that's really important because it's November, right, Like, we want to be getting ahead
of the game. And you know, Jess and I you guys know, Jess, we have some crafty little DIY Christmas presents that you can make this year that I am making this year that I think will work really well. But I think we need to just be a little bit more planned. Right again, we're in the middle of a cost of living crisis. We should be caring about what we're spending because at the end of the day, every single dollar counts. The next we're going to do our research. As I said before, they can be fake
price drops. So if there is an item that you have in mind, start doing your research now and what it's going to cost and what kind of deal you could potentially get. This is my favorite. I'm going to recommend a product, but it's like not sponsored. Sure, I feel like on the podcast we recommend a lot of stuff. None of it's sponsored unless I tell you it is. My friends, I just like sharing. The next year is we're going to unsubscribe from our emails. I'm really sorry.
As I said to you before, Iconic, I am deeply in love with you, but I need you to stop emailing me. I really do. It's not working because I will click the email, I will go through. I do need to see what is now on sale. They're too good, I do, right, I know. But the company that I want to recommend is actually just a website. It's called unrolled dot me. Oh, and it is a website for
decluttering your inbox and it's so so easy. Basically, you can unsubscribe from unwanted emails and keep the ones that you do want. It's an app right that you like install, connect to your emails and then it goes through and you just tick boxes and it unsubscribes for you, so you don't have to do it individually, like does it on a bulk?
So convenient.
It kind of like goes, hey, here are all the marketing emails that we've identified. Do you want us to unsubscribe from all of them? And then you untick the ones you want to keep and then unsubscribe from the rest.
That is so convenient, kay right? I love that.
The next is consider quality purchases only, so making sure that if you're gonna buy something is actually gonna last back or is it just a cute top that you're going to get one way out of and then it's going.
To fall apart?
Right?
Not a sleigh? No, ask yourself would you actually pay full price for this? If the answer is no, I want you to rethink your purchase before actually completing it, because if you wouldn't pay full price, why are you buying in the first place.
That's a very good point, like if I.
Wouldn't spend the entire amount, I clearly don't like it that much.
Yeah, you don't need it, you don't really want it? No, Yeah, it's a really.
Good point again. Put twenty four hours between you and your spending. I couldn't say that enough. For people who are a little bit impulsive, this really helps. Even if the sale says it's sending in six hours, most of the time they end up getting extended because do you know what retailer is like money coming in the doorback. Yes, so they're gonna be like, oh, we've just extended this sale. What a surprise. We just thought of this idea right now.
No one saw it coming, not even saw it.
Coming, not even us or our marketing strategy that we put together twelve months ago for this, like they absolutely knew what they were doing. Then check the quality of like components and tech items. Often retailers will actually sell similar models at a lower but minus the features and the high quality components. So like, if you're buying a TV, it might be LED versus the O LED, And if you know anything about TVs, you know one of those is better than the other. And I can't remember which
is which. You would have to ask my husband. But that is a rant that he has been on before.
I see, yeah, he's ready.
Yeah, that's a Steve tip. You welcome. And the next this is going to be absolutely no surprise to anybody. Don't use after pay, don't like it's terrible idea.
That's right, it's terrible idea because it is.
A slippery slope. It is a slippery slope. And only use after pay if you're like cash flowing it and the money's already in your account and it's a fully like planned out plan and it makes sense. But too many people in our community have gone down that slippery slope, found themselves in debt, and that has impacted them far more than just getting a new pair of kicks.
Totally right. V.
Also, it feels so good when you make a one off purchase. There is always like buyer's remorse if you make a big purchase, but feels so much better knowing that's done and dusted. I don't have to keep paying for this thing over and over and over again.
That's it.
I think you've helped me save five hundred dollars, have I I think where it is personally like Friday, it brings maybe like a little bit of anxiety because I know myself.
I know I don't have any self regulation. That's what got me into it in the first place. So it's good to know.
It's a time of year where I know that, like I'm going to have to avoid going out. But it's also a bit exciting because, as you say, like if you do have a plan, if you make plan, Ristmas is coming up, Like all of these things, there are so many benefits to it. But for me, it's just a little bit scary because I don't trust myself. I would say, that's fair. How do you feel around this time if I'm the same.
Like at the end of the day, I have shared with you guys that I am relatively impulsive when it comes to purchases. It's why I don't use platforms like I have to pay and you know by now pay later platforms in general, because I just know it wouldn't work for me. I have had a credit card before, and I have abused a credit card before, and I know I can't trust myself with one again. Yes, like it just makes sense. So I kind of look at it and go, well, I know myself enough to know
that this is not a good time of year. Flip it over. I think I've told you historically about my best friend who like uses after pay, but she's like a genius at it, right, She'll go onto the iconic. She'll use after pay to order a heap of dresses so she can try them on. She keeps the one she wants and she sends the rest back and all of that money didn't come out of her account, Like she's actually a genius. If I get a bit package of dresses, Beck, yeah, they don't fit. You know what happens.
They get thrown in the corner of my room until the returns period of time has expired, and then I'm like, oh yeah, whoops. Yeah, but she's just better at everything than I am. So if that is you and you are a step of the world, then go ahead use it that way that works for you. But unfortunately that's not the reality of most of our community. And I want to make sure that you know, you feel heard and you feel like you're not alone in this, because Beck,
you're in the same position. You're like, oh, I can't trust myself during this period of time. All right, Well let's not trust each other together. What's a plan?
Yes, so true, And it's.
Going to be so much easier if I'm like, you didn't buy anything, did you? And you go no, wan to go Sleigh, Let's get coffee.
Do you know?
What I mean. We can actually support each other during this period of time, but we can also use it to our advantage if we have a plan. So if you have some purchases that you need to make, if there are things that are on your wish list or your Christmas list, or literally any list that you've got, will maybe sit down now and be like, all right, I'm just going to write out what I need, when I might need it, by what that actually looks like.
Because if you can save thirty percent, that's a money win. But it's not a money whin if you didn't need to purchase it in the first place.
Exactly, you ev a penny saved is a penny earned. So if you spend no money at all, I feel like you've made that money.
I don't even need to be here anymore. You've got this, all right, let's go, Because I'm now salty that you're smarter at money than I am.
Fair Enough, you should be a little bit scared.
I am terrified if that's the reality. But we will see you guys on Friday. Have a beautiful week, babes.
Bye.
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