Just before we get started, we'd like to acknowledge and pay respect to Australia's Aboriginal and torrest Rate islander people's. They're the traditional custodians of the lands, the waterways and the skies all across Australia. We thank you for sharing and for caring for the land on which we are able to learn. We pay respects to elders past and present, and we share our friendship and our kindness.
She's on the Money, She's on the Money. Hello, and welcome to She's on the Money, the podcast for millennials who want financial freedom. Today is Friday, which means it's time to sit back with the girls with a bev in hands, to unpack our favorite moments of the week, and of course, to celebrate you She's on the Money community.
As always, we'll be sharing our favorite money wins, we'll discuss what's making news in the She's on the Money world, and we'll also be helping to answer a juicy money question, which this week is all about savings burnout. Before we jump into a recap of the week that was, you may notice this is not Victoria Divine speaking. This is Georgia King's speaking. And Jessica. Ricky's taking ARCHI. We're back. We are not doing a gnj Q and.
A No we did that last week. Yeah, I've been there, done that.
But unfortunately Victoria is still sick. The woman can't speak.
It's not great.
That's why there's so much George just content right now. But we're not mad, it really is.
We've just taken over the show. See getting a bit more of us this week. Hopefully you don't mind too much. But should we start with the week that was on Monday?
Of course, let's do it.
This week's diarist was a single mum and she's living on welfare and it was a really good chat. It was one of the diaries that we put the call out for if you don't follow us on Instagram, every once in a while we put out a list of people that we'd really like to talk to in the interest of keeping things diverse and interesting and you know, people from all different walks of life. And so this week's diris was a mum living on welfare and just
really side hustling her life away. She had so many side hustles going on and she was just really saying that every little bit counted she was trying to.
Make it work.
She has a beautiful little girl and that's who she's doing it all for. She had left a abusive relationship and was going through a really extensive court process. So if you've ever been through something like that, those things can take a really long time to play out, which is really hard when you're just trying to move on with your life and look after your family and do
the best that you can. And I think it was a really cool perspective to see that even someone who has been through something incredibly challenging, emotionally traumatic, and with so much going on, being a young mum, she was just like, Nope, I've got to make it work. And you know, if I have to take out the binins once a week for a business, that's what I'm going to do.
That was cool. I caught that episode on the way in today, Jess, and that stuck out to me as well as being a really quirky kind of side hustle. I've you never heard of that before, but well, did it pay like two grand a year or something?
Yeah, And like that's it's such a good example of from little things big things, we say, like that little bit of money that little job, she says, she takes her daughter with her and we you know, up and down the driveway taking out the bins. But over the course of a year, it really adds up, particularly when you're in a position where you know you don't have a lot coming in when you're on welfare. We've spoken
about before. It's not a huge amount, particularly with the cost of living increasing, and so she's had to find a way to make that work for her.
Yeah, brilliant. Shall we talk about Wednesday's episode? Yeah, tell me all about it. Look, you were on it mag you and I. We spoke all about income guilt and why we feel it. We have both experienced it, so it was a really interesting chat. We spoke about imposter syndrome, one of our favorites, and we also spoke about ways of combating that feeling of guilt, be that from over earning or feeling like you overearn or perhaps under earning. So, yeah, it was a really interesting chat.
Yeah, good one because it comes from both directions. Really does ext the over and the under earning. We went on a bit of a rant about emerging industries as well to both of us working in that space, and you know, people sometimes not giving it the respect that it should have for so, you know, got a few tickets on myself. But I think it was a great effict.
Yeah it was. It was an what else is great? Yeah? I try.
I'm trying so hard to be as good as do it the segway.
I'm terrible at them. Should we get into the budget direct money wins of the wheat joy Let's do it girl, my favorite time of the week. The first win here comes from Lizzie. After last week's loss of being a good Samaritan and telling the pet shop that they delivered the wrong size of dog food fifteen kilos instead of six kilos and taking them back. This week, Willies accidentally gave us a free four pack of cup of noodles.
I'm taking that as a week and as.
You should, Lizzie. I bloody love it. She's written hashtag Karma comes back in noodles. Lizzie gets it. I love you, Lizzie. Next up is jess A. A few months ago, it came to light that I would be eligible for back pay as my role at work had changed a lot during COVID. To receive the back pay, I did have to go through almost a year's worth of pace lips and figure out not only the time I performed in a different role, but also the different penalty rates and
overtime I performed. A headache. That's a lot to go through. Now. I know some of you guys really love your spreadsheets, but it does not come naturally for me, so I kept on putting off figuring it all out. I hear you, Jess. Anyway, I found myself in quarantine with COVID a few months ago, and my wonderful partner helped me add it all up and figure it all out. I submitted it totally forgot
about it until this week. It came in and instead of getting my normal paycheck between three thousand and four thousand dollars per fortnight, I got paid close to twenty thousand dollars. How much four ten thousand dollars post tax for the fortnight not a bad date at the office. I had no idea it would be that much, safe to say, I was stoked and really grateful that my partner encouraged me to figure it all out and submit it. I put all the savings into my house deposit, and I give you.
Break that down over the amount of hours that you spent doing all that admin, your hourly rate would.
Be pretty schmid. That's true. That is true. But also how clever is she to be putting that savings towards her house deposit? How many of us would just be like, well, I'll better spend the couple of ga on some clothes. I don't know I can.
That's an our back.
Yeah, exactly right, So well done to you, Jess, Yep, good job, alrighty Jess. The next one comes from Zara. It's a money loss, but maybe it's a future money win. I bought a second hand Kowasaki motorbike for a fantastic price. While that has set me back a little bit financially, within a year and a half of writing it to work and elsewhere, I would have saved that amount in
petrol and reduced my carbon emissions. Feeling pretty estatic, she also got a free six hundred dollars jacket from a friend fit fantastically so she doesn't need to buy that. It's motorbike, double win, motorbike girl, we love it. The next win that comes from Bree money win. My boyfriend and I went out to celebrate our one year anniversary.
Congratulations Brie. The food took a little longer than usual, so the restaurant paid for our drinks and we were a good few cocktails in, so it's a good result. Well done, Brie. The next week, it comes from Sarah. I've been looking at buying a full length mirror for my apartment for ages, but they're all like four hundred dollars new, so I just couldn't justify the price. I went on Facebook Marketplace randomly and someone was giving away
nine groovy floor length mirrors for free. The only catch was that I did have to take allmine, so now my house looks a little bit like a changing room. I'm super stoked at my find though, and I might give a few away to my friends to spread the joy around. Did you see this in the group?
No?
I mean mirrors are gorgeous? Sarah has got any left? I know A girl me it was pretty keen. I'm taking one off your hands, but a very cool and quirky win there. The final win of today comes from Brodie money Win. I lost my phone in the car park of our Locals shopping center while running my crying
newborn back to the car. Flustered, I didn't realize until I got to the car that it didn't connect to my blue tooth, and then rushed to the service where a lovely gentleman had handed my phone back in with all the bank cards, health cards and cash still in there. I was walking back to the car where a local radio station was doing a promo where you press a button for the chance to win. I was feeling lucky. I pressed a button and I won one thousand dollars.
So my tears of gratitude turned to tears of joy. Not only did I not need to buy a new phone license and chase new cards, but I also got to spoil my girls with a playroom briefer and a weekend away wholesome.
What a good way to end them. Yeah, it's been so good celebrating some of your budget Direct money wins for award winning insurance Search Budget Direct, Budget Direct Insurance Solved.
Let's head to a break, George.
And then when we come back, we've got some fun exciting shoes on the money use and a chance to win something la la.
See.
Then already we normally tackle some news in this slot on the podcast, but to be honest, this week it's all been election and a lot of other stuff that really is just a bit heavy I think for the week. And on the flip side, we have some fun sheees on the Money news and updates to share, so we thought, why not be a little little self promotional share the fun things. There's a good chance for you to win something, so stick to the end.
Hear that.
First things first, if you follow us on Instagram, you would have seen that. Last week we did a fundraiser for TLC's Trackie Act Day. Ye incredible stuff TLC for kids. As you guys know, Victoria's the treasurer of that charity and they do amazing work giving kids their last ride, kids with chronic illness and all other kinds of problems and it's just a really special thing to be able to be involved with. And every year they have their annual Trackie Act Day. Don't have to tell me twice.
Wear my tracksuit pants, that's for sure. See you wear your tracksuit pants. And we had some amazing prizes to give away from some of our favorite brands. Of course, when I got a Shees on the Money Master Class, a Jagged give voucher, a huge Mecha prize pack for the Full Sunday Body Range, and a subscription to keep it cleaner, and we were able to raise over two thousand dollars amazing, So thank you so much to everybody
who bought a ticket. Genuinely, it's so special to us to be able to raise the money for a great charity and kind of put our work beyond ourselves and put someone else up the front and share their cause and just do something really special. So thank you so much if you donated, or if you shared, or if you wore your track suit pants, any little bit like that really really counts and gotish to where we were.
Exactly right, and throw tales see for kids to follow it on Instagram if you don't follow them already. They are doing incredible work. They're a humble bunch, so they don't really sing their own praises, so we'll do it for them. Yeah, definitely, but maybe we'll throw that in the show notes if we can.
Yeah.
Incredible with the book as well.
We kind of we outed this last week, so I won't spend too long on it. But a few people like what so a little more information for you because clearly we didn't give enough. The second seese on the Money Book, it's all about investing, which is very exciting. You know how passionate we are about it here, and so it only made sense for it to be the second book. I have had a sneaky peek at the manuscript and guys, it's a good one. It's it's fully actionable.
It takes you right the way through from what everything is, what you need to know, what to look for, and you finish up with a really solid plan that you can put together yourself. You don't need to see a financial advisor. We are giving you all of the tools that you need to put yourself in that positive position without having to splash the cash on seeing somebody. So
it's a really empowering read. Might be a little bit biased, but the first book was phenomenal and if you enjoyed that one, I can almost guarantee that you're going to enjoy the second one as well.
So would you say that this book Jayrek is good for people who have maybe just started investing and people who also haven't like what stage of your journey should you be at? Like who's the best? It's kind of for everyone.
So if you have started investing and you're maybe feeling like you're kind of know what you're doing, but not really. It's worth a read because Ve dives super deeply into different concepts, different ways of assessing shares. She talks about rebalancing your portfolio, tax all of those things that when you're first learning about investing and maybe your micro investing, you start with a smaller skill set and you build
your way up. So it's written in a way that if you have no idea how to invest, you should walk away feeling empowered, or if you're kind of you've dipped your toe in the water, you've got a bit of an idea, but you're not feeling fully educated on all of the concepts yet. And the nice thing about a book is you can write on it. You can bookmarket. We saw a lot of people with the first one putting those fun, colorful tabs in it, and you can come back to it again and again, and it's really tangible.
So I think for kind of anyone along the journey, it's a really good rate.
And a good little gift perhaps as well, I can't think, I mean Christmas is a little far away, but still get organized girlies.
Well it is on sale right now, so if you did want to get yourself a pre order you can save yourself a cheek heat twenty percent for you for a gift, whatever you want to do.
That's the money in and it comes out in September, if I am not mistaken, September twentieth.
Correct, it's not far away, So get excited. We are so pumped and we're even more pumped to be bringing you hopefully a little book tour around that time as well, so stay tuned for.
That and our final update of the day, Jay Rick, is a special event we have coming up. I believe.
Oh my goodness, guys, it's nearly our birthday, the third anniversary birthday.
Of She's on the money. That's crazy, I know.
Can you believe? It's so weird to think that it's been three years because it seems like forever and also no time at all. You feel the same way. It's bizarre to me, really strange. So this year we're celebrating we're out of COVID. We were meant to do this last year. I think we spoke about it and it didn't happen, So we are pumped to be doing it this year after twelve months of waiting. June thirtieth, we're holding a special event here in Melbourne. It also happens
to be vd's birthday. It's a double birthday bash because it's the end of financial year. It's the ultimate irony. It really just truly is an alignment of like no other. But the only way to get there is to win tickets. Hello, you can't buy in. We wanted to make it so that anybody could come, so if you do want to enter for that, there'll be a link in the show notes as well to head to our website and you can still in a form tell us why you want
to come. We're giving a way double passes. So maybe you want to come because you want to bring your mum because she taught you so much about money, or your best friend who's starting to work their way out of debt and needs to be a little bit empowered. There's going to be all kinds of fun things there, George, We're going to do a live potty. The whole team is going to be there. It's going to be a Friday drink, so you know it's going to get a
little bit loose. It'll be really fun. There's going to be food and drinks and dancing, some very swish gift bags.
We do say so ourselves.
You would expect nothing less and it's just going to be a really good time, I think, to celebrate us and the community and everything that has happened over the past three years. So if you do want to be there, definitely check it out. And if you're not based in Melbourne, we've got some good news for.
You, so very excitingly, we will be giving away one double pass from an interstate listener to join us on the day, so that'll cover your flight, your accommodation, you'll get to come along to the event, meet the girlies. Bit of a VIP situation, I think.
So.
Yeah, if you are into state and you're annoyed that we are doing this in Melbourne, don't be enter the competition. You could come down long.
It'll be really fine. I'm super pumped and I just think it's going to be a really really good time.
Yeah, cannot wait for that, jay Rix, So head to the link in our show notes to enter. Guys, we can't wait to see you all there. But now I think it's time for a little money dilemma. Hi, Beart, have you got a money dilemma you just can't solve that She's on the Money Team is here to help. Every week, we tackle your dilemmas, both big and small, to answer your most burning money, career and life questions.
To get involved, simply head to our website and leave us a quick voice recording and you may just find yourself on the show. Now, let's take a listen to today's money dilemma.
Hi, she's on the money. My partner and I have a few different big money goals that we want to achieve over the span of how the many years that takes. We've already cracked down in the last year and have achieved something which is amazing, and now onto the next thing. It kind of feels like we don't have a break. We're always saving really hard, We've made sacrifices that sort of thing. Do we keep pushing on until rereach the end? Or like is there never going to be an end?
Like do you just enjoy the every day just struggling? Yeah? Without mentality at the moment, thinks.
Look, I don't know where to start with that dilemma. I think the first thing to kind of note is her tone. She sounds really really flat and she found out Yeah, so I hope you're okay, dear, listener. But I think the place that I would start is firstly to congratulate you on the massive goal that you said
you achieved very recently with your partner. That's incredible. But I think what we probably need to be doing here is celebrating our wins along the way and making room in our budget for fun things, because we're not just earning to reach those bigger goals, we're earning to live a life that we love along the way, and it is so important to find that balance to keep you
on track to those bigger goals. And if you don't feel like you have anything to look forward to along the way, then it's really hard to keep on going. It sounds like you've really burnt out. Yeah what do you think, j Rik?
Yeah, one hundred percent. I think kind of taking a step back to look at your priorities because you know, you said, does it ever end? And I mean the short answer is no. I think as humans, we achieve something and then we go, what's the next thing? Where
are we going? What are we doing? So, like you said, gee, making sure that you're taking time to celebrate and where possible, making room in your budget for little wins and celebrations for yourself, but also kind of going Okay, well, I've just achieved this big goal, I've got my next one. What does that timeline look like for me? Do I want to push it out a little bit further so that I can enjoy my life more comfortably on the way there, or is it something that I want to
tackle urgently. Is it a debt, because if so, you're paying interest, maybe you want to look at doing that sooner rather than later. Or is it, you know, a goal that I can afford to stretch out a bit so I can enjoy the journey there a little bit more. Because yeah, like we will always theoretically have a goal. I think if you don't have a goal, you'd probably be feeling a little bit aimless and going, oh, well, what am I doing?
I'm just floating along?
So, yes, you will always have a goal, and you probably will always be working towards something, and that doesn't have to be a bad thing as long as you're taking the time to enjoy yourself as well. One hundred percent. I think just judging from our listener's voice as well, I'm probably honed into the tone and the voice. It sounds like she is quite young, so I wouldn't be putting too much pressure on myself in my early twenties to achieve all of these things when you do have
the rest of your life to be doing that. In saying that it is so important that you have those goals, and well done to you for having them, but I would also suggest perhaps breaking them down into smaller goals. It's hard because we don't know what you've got lined up. You did say that they are larger goals, so maybe like a house deposit, maybe paying off your car, things
like that. But maybe if you set like monthly saving goals to hit those larger goals, and treating yourself when you hit those smaller goals along the way could be.
Helpful, almost like a personal KPI.
Yes, save your corporate I want to hit this thing, and when I hit this thing, I get to go on a really nice dinner, or I get to go and you know, purchase something that I've really had my eye on, or save up towards that I don't forget. If you are working towards a goal, you don't have to be putting one hundred percent of everything towards it. And again, like you said, it's a little hard because
we don't know what exactly the outcome is here. But if you're saving for a house deposit, for example, you can have your big house deposit account that you know a large portion of your savings are going towards. But you can also have a smaller account that you're allocating for a holiday or you know, for some new clothes or an adventure that you want to have, or you know, whatever motivates you. You don't have to be all or nothing. You can actually do a couple of things at once.
But it ultimately does come down to how much you value that thing that you're working towards versus the other thing. And that's kind of how you can break it down and maybe make it a little bit more fun.
Yeah, is that how you manage your money?
Jbrid Yeah, as everybody knows, Like, my house deposit is my big thing right now, which is where most of my money is going. But like I said last week, I am reallocating some of those funds this month because I'm going away on a girl's trip with VD and so for me, I decided that I valued that and
I rearranged my I guess savings schedule. If you will for the month and decided that that trip was going to be a priority for me because I have worked really hard and it has been a long time since I've done something like that, and I did have to remind myself not to feel guilty about it. Yeah, because you do get really set in you know, this goal is the be all and end all, and I must do everything that I can to get there. And that mindset can be really powerful, but it can also lead
to burnout exactly. And so if you're not celebrating and making those little allowances and being gentle and kind to yourself, then you probably will end up feeling a bit icky about them. Yeah.
We also did do an episode on spending guilt, which could be a good one for this great cool listen to well loveily chatting with you as always, Jessica through g I believe it will be you and I on Monday.
It's really a week of firsts. Due Wednesday, deep first Monday Money. It's very exciting. It's a good ear so.
Yeah, keep your ears peeled exactly right. Time to rup the boring but important stuff. Take it away.
Don't feel guys that The advice shared on She's on the Money is generally in nature and does not consider your individual circumstances. She's on the Money exists purely for educational purposes and should not be relied upon to make an investment or a financial decision. And we promise Victoria divine and She's on the Money are authorized representatives of Infocused Securities Australia Proprietary Limited ABN four seven oh nine seven seven nine seven four nine AFSL two three six five two.
Three stunning And please, guys, don't forget to join us over in the Facebook group. It's a community of over two hundred and eighteen thousand now, which is insane, So come and join us for some fun, judgment free money chats. We're also on Instagram, TikTok. You can find us all over the place and we would love to have you. Yeah, and if you're feeling generous, don't forget to leave us a review. We would so appreciate it, particularly while it's
me and George holding date exactly. It makes out dates, it really does. Did I just well up a little bit? Yes on that tender note. Have a good weekend. Bye guys,