Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr the Order Kerni 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 the podcast for millennials who want financial freedom. Today, guys is Friday's Surprise. It is time to sit back with the girls with a beven hand to unpack our favorite moments of the week, and of course, to celebrate you, our incredible Shees on the Money community. As always, we're going to be sharing
our favorite money wins. We're going to discuss what's making news in the finance world, and we're going to help answer a money question, which this week is all about whether our online course is applicable internationally. But first, as always, it is time to recap the week that was, and miss jessic Ricci, I usually let you do this one, but this time I'm going to do it on Monday's
Money Diary. My favorite part about it was really highlighting the importance of the ndies and just how important the work that everybody in that space does. It's one of those things that I don't think we talk enough about, and I hope that in the future we get a whole heap more money diarists on the show that can showcase all the different facets that you can work in. All right, Georgia King, it is time to let you have your turn to shine. What happened on Wednesday?
On Wednesday, you and the glorious Jessica Richie spoke all about financial self care?
Oh, one of my favorite topics. Yeah, well, it's not something that.
We've really spoken about that much on the podcast, speak a lot about on instag aroount it.
Do you yeah? But you never go on in star that's true?
Do you not a plan to do it?
Do you know? It was like a do you yeah? No, I do because it's actually really important, but you would know that so it might have been the first time you heard the topic.
Well it wasn't. It was super interesting, super wholesome, and I think really good for people who are particularly harsh on themselves when it comes to finance as well.
Right, absolutely, And I think it's a really important topic to cover because sometimes we don't give ourselves enough leniency in the finance space because we think it always has to be perfect when that is not necessarily the case.
One hundred percent really resonated with me as someone who you know, has a bit of a reputation as a tight us or. I did that you literally just bagging me for not having a seventy dollars bloody of self care water bottle or whatever.
They all right, no one was bagging you. The thing we were getting spicy about is George King, is that single use of the bus or you've used it more than one time, but it will go to landfill. You just need a drink bottle. You don't need one of the fancy gal Frank Green ones. You don't need an emotional support water bottle. You just need one that could be used more than one time without leaking BPA into
your body. But that's all right. Let's move on because I want to hear Georgia King some positive things from you today, absolutely about single use plastic. I want to hear your budget direct money wins. What have you got today?
Okay, so the first win of the week is actually a loss, but it's wholesome. It comes from Kate money loss. I went part time at my primary workplace last year for a better work life balance, and I love picked up a second job for the off days, which has made me so much happier. After financial self care, it is yep. The next win comes from Naomi money win. I thought as a casual nurse I would miss out
on the bonus payment from New South Wales Health. I woke up this morning to find one thousand, seven hundred and seventy five dollars have been paid into my account.
That's a lot of money.
I only got taxed to fifty dollars as well. What I then remembered that I was a permanent worker at the start of the pandemic for ten months before stepping down as a casual and I still worked full time hours. So I'm super stoked to have these extra savings. Here's the wholesome Park Gillies I also sent my mum at three hundred dollars of my payments too, but she was excluded because she works in a different kind of system. But she's feeling really grateful. What a good thing to
come from the Panini exactly right. The next win comes from Shelley Money Win. I paid off a twenty four thousand dollars credit card debt left over from my divorce. Yes, que I feel so free, incredible. The next win comes from Daniel. I did a clear out of things laying around the house on Marketplace. I got rid of foot rests, an old TV cabinet, a coffee table, some clothes, and various baskets slash planters. I managed to scrape together over three hundred dollars.
That's so good. I need someone to come do that in my house. Do you know what that would be a good side hustle? Like advertise your services you toaste, take a clip of it. Maybe I'll take twenty percent, go around your house selly stuff. Probably should be more hands on with that for the while. I'll come home with nothing in my mouse.
Alright, that's all right? What else have you got today? The next week it comes from Victoria. I saved a great name. I saved myself around four thousand dollars last year. And here's how I switched to prepaid mobile. I canceled my monthly beauty box subscription.
Is that mecca?
Probably like a baler box or what of those?
Yeah?
Not the beauty loop. Those are free. All you have to do is spend a lot of money.
Victoria also canceled one of her two streaming subscriptions, started making coffee at home instead of buying takeaway. The next on her list is to tackle her grocery budget and make lunches for work instead of purchasing them out. That's huge savings.
So that really wasn't me?
No?
Yeah, yeah, you finally read one of mine now. No.
The final win of today, Guys, is very wholesome. Again it comes from Tara money win after discovering she's on the money during lockdowns in Melbourne. I completely changed my money story, yes, queen, after believing for years I couldn't buy a house on my own, so why even bother saving? This week I got the keys to my first ever home and I did it all by myself with the investment in a bias agent. Interesting, all of my moving and new home costs were saved for it, so it's
been completely stress free. I cannot thank that she's on the money team enough.
I have How sweet is that? That's so wholesome? I literally love that. It makes me so happy hearing you guys kill it absolutely is that all you've got? That that was a very good place to leave it. I love it. It has as always been fantastic celebrating your budget Direct money wins Budget Direct winner of Canstars Insurer of the Year Award twenty twenty two. Budget Direct Insurance Solved.
All right, we are going to go to a really quick break and when we get back, we're going to talk about that she's on the Money budget and cash Flow master class. Bit self serving, but someone asked, so we got to answer the people's questions. Georgie King, don't look at me like that. And in Finance News we're going to talk about some changes being made in Tasmania to gambling law. Don't go anywhere.
Okay, guys, I have a really cool update to share.
George.
You actually shared this with me and I was like, this is incredible. I want to see it everywhere, so of course I want to talk about it with the community. Our friends across the ditch, is that what we call them in Tazi or is it a little ditch? But the small is New Zealand but a smaller ditch basically the same thing. Our friends in Tasmania have implemented a new law which caps losses on gambling, or will cap losses on gambling, I should say by twenty twenty four.
So they have announced they will implement new rules to minimize harm from electronic gambling machines, which will include a cap on how much a person can lose. It'll be implemented in hotels, clubs and casinos, so I guess everywhere that you can gamble, although not online. Maybe that would be harder to police.
I don't think you can police it because obviously you can gamble internationally if you really wanted to.
But they're going to implement a system which would make sense as to why it won't really work for online. So it'll be a card based system which will make the gambling machines cashless. Cards will hold limits on the amount that can be lost by the gambler, so the default limits will be one hundred dollars a day five hundred dollars a month and five thousand dollars a year. Your bloody love to see it because.
I think a lot of people might be salty about it because obviously it's their decision and whatnot, But like that's just responsible.
We did an episode a little while ago all about gambling, and we've had a money diarist one before also who spoke about the impacts that chronic gambling had on her family. I think it was one of her parents. The system is essentially meant to stop people from losing more than they can afford, which, as we know, is like the big downfall of gambling is the addictive nature. It sets off all of these hormones in your brain and you just can't stop, and people are gambling away life savings
before they know it about it. The limits on these cards can be lowered at any time, and within certain parameters will be able to be increased if a player can prove that they can afford it. I would be interested to know, and because obviously this legislation hasn't fully come into play yet, we don't have all of the information, but I would hope that there would be an overarching cap, like even if you're a millionaire, let's not let someone lose a million dollars, do you know what I mean?
I'd be interested to know how they measure that as well, because jess As you know, going through a pre approval process with a mortgage, you have to give them your budget and your cash flow and work all of that out and they tell you what you can afford. What are they going to do that now with gambling? Like, I don't know how I feel about that. I think the across the board rules are kind of good. I
liked the idea of that too. It's really interesting though, because the Tasmanian Hospitality Association called the government's decision a slap in the face to hotel and pub customers and hard working small and family businesses in Tasmania.
And is it.
I don't want to be a dick. So if you own a small family business that has a ret to get it, please don't take this the wrong way. But the businesses in my mind that are going to be most impacted by these are the big conglomerates. It's your local casinos, it's your local tab there's one in my area and there are people that you see sitting there. It's right next to a party shop that I frequent regularly,
which is why I know so much about it. For you're, gee, people sitting there and I'll go in and I'll come out four hours later, and some people still haven't moved.
Like they're rules that you can't gamble for twenty four hours straight. It was only recently. I think it was like a couple of weeks ago that Sydney's Star Casino. It was like all through the news they could lose their license after they were found to be unfit to operate because they were allowing people to gamble for like twenty four hours straight and giving them free drinks and giving them free food so they never have to leave. And I just thought that was so wild, because to
be honest, I hadn't even thought about it recently. Yeah, but you know, I think these introductions are actually a step in the right direction because gambling, you don't get anything good out of it.
I view the industry personally as very predatory, and that's my opinion. I know for some people, maybe Grand Final was a couple of weeks ago, maybe you want to back your team, put a little bit of money on it. Like I get that. I personally have actually never gambled and that's a personal choice that I made, but I think as in industry, it really capitalizes on people who
are more often than not, in a vulnerable position. And so for me, this regulation seems like an amazing thing, and I really wanted to bring it up because I want us and anyone who agrees with it to be vocal about supporting it, because I would love to see this implemented Australia. White.
Yeah, I think it's a really good step in the right direction, because it's just it's too detrimental to too many people.
Speaking of how detrimental vd in the twenty seventeen to twenty eighteen financial year, Australians lost twenty four billion dollars on gambling.
This is no small problem. It's crazy, which makes me wonder because obviously what rules the world. It's not girls. Girls don't rule the world girls girls from this much. No,
it's rich people. It's money. So I'd be really interested to see how the families who own these companies, because they're not government run companies like Crown Casino obviously massive, how they're going to respond because that would be a majority of their revenue would be coming from gambling, So how are they going to be trying to fight back
on this and how many people you know. I'm not saying that we will pay people off, but how much money is going to exchange hands in the background to make sure that this, you know, takes as long as possible.
On your Tasmania, I will be personally very loud and proud in supporting this.
I it produces the best podcasters too.
I go something good in the water.
Nice, nice the water.
They're easy lat Yeah, let's move on though, George, what is it time for?
It's time for a money to Lemma. Hi, there have you got up money dilemma you just can't solve? The Sheese 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, I wanted to know if this master course works for people living within Canada and in terms of like
the resources, like how complicated are they to understand? Like if you have a very basic understanding of things or if like you're a student, for instance, because I'm a student right now and I went through something quite difficult, like my mom recently passed, so I'm having a lot of trouble with finances and figuring things out in that sense, would this course help me be able to manage my money better?
I mean tail day a. Yes. Would you like the long version though?
Goes please?
I don't know.
Well, I actually think this is probably a really good time to flip it around, like I'm quite biased. I actually created the Budget and cash Flow master Class, and I did create it with an international audience in mind, which is why we don't talk about anything when it comes to superannuation or Ralian tax rates. You have to use your after tax income to put into the Budget and Cashlow Masterclass, just to make sure that as many
people as possible can use it around the world. But Jess, you use this pretty religiously, which makes me so happy, Like it strokes my ego every time you're like, oh, I'm dead my budget. I'm language one though, and then you tell me it was mine and I love it. But Jess, talk to me about what it kind of does for you and why you like it above and beyond just keeping your own spreadsheet.
I think I just like that. I mean, firstly, I'm not credit Excel. I'm pretty sure I told you that when you interviewed me for my drawer. Was like, I didn't even ask I one of them. I didn't even say to jessl what are your weaknesses? She was like, all right, just before we go, I just want to be really clear. I know you're really good at spreadsheets.
I am not. I will not be good at that, like ma, the transparency.
Roll on through. But yeah, I like that. Firstly, it's on another level to anything that I ever could put together myself. It's aesthetically pleasing, which is not the most important thing, but for someone who's visual like me, it's really helpful because it breaks things down the functionality of it. I don't even know how you again, I don't know anything about Excel, but I cant you, like.
I don't even know how you did this. I'm like, it is it is a secret.
Maybe I'm not the good person to explain this, but like, that's why.
I sell it.
I'm not going to tell you how I made it my secret sauce, but like idding a lot of coding, a lot of macros, a lot of background stuff that it's too hard to worry, don't try. But I can input whatever I'm earning or whatever I'm spending. It automatically figures out. If I put in my salary, which is paid monthly, but I pay this bill fortnightly. There's just a little drop down box that I click, it does the maths for me. And as someone who's not a math scal I can't tell you how helpful that is.
I don't have to worry about figuring it out or going, oh, this is fortnitly, this is monthly, and this one comes out weekly. I can just figure it all out. I plug it in. There's heaps of pages and then you get to the end and it tells you exactly what's coming in, exactly what's going out. It does that nice little diagram where if you follow the bank account method that you recommend, like, it tells you exactly what to
put wear. And it is just so helpful for someone who has never been great at that kind of thing, to have it taken off your hands and all automated is amazing. And then I don't have to call you every five seconds and be like, how do I calculate this? Because it just does it for me.
I think that that was my main priority when making it, because I felt like everyone kind of has a control or an idea of a budget, Right, George, I know you don't use it because I've given it to you and you have an open to the email. But I know that a lot of people might be good at creating their own budgets.
Right.
You might sit down and you might do it on paper, or you might get a spreadsheet, or you might get a word document, you might go buy a fancy kikik journal. Like, I don't know everyone's good at writing down. I'm not saying you're doing it because too many people need to actually pull their heads out of the sand and actually do this. But you might be good at writing down how much you're spending, but I guarantee you're not actually taking that next step and putting cash flow into the component.
Because budgeting, Yeah, it's great, but budgeting's not about being restrictive. It's actually about understanding how many dollars come in, how many dollars go out where they're going, to make sure that you're comfortable with where they're going. But then overlaying a cash flow system to go. Okay, George, I need to make sure that every dollar that comes into your account is working as hard as you do for it, and it's about having a cash flow system that works
for you. And obviously having been a financial advisor for umpty years and working with people day in day out on either their budget and cash flow or you know, their investing journey, the biggest pain point was like, oh, y I've done a budget, but I don't know what the next step is. I don't know which bank account I need to put it in, or how to capture it, or this savings goal I have set I'm actually achieving. So I think for me, it's about taking that next step.
But yes, it is internationally focused and you can use whatever currency you want, So say you're in yen, you can use yen. That is absolutely fine because the calculations on the back end are identical regardless of if it is pounds or if it is dollars. The only thing you need to do is make sure that you're consistent
with the currency. So say you were earning money in pounds and also in Australian dollars, you'd need to make sure that you're using only one of those, because if you put in one pound, it wouldn't convert it because it's working on one currency at a time. Unfortunately, that was where my skill betrayed me. You can use any currency you want, so it is very internationally focused and it's just a budgeting cashlow system. It doesn't matter what country you're in. It's going to make sure that you
are on top of your finance. Is my friends, which just to circle back to the you waiving a tiny toothbrush at me, George like a one. This is different.
Just on a more serious note though, Ladies Naomi who asked that question, she mentioned that her mum had just passed away, so just wanted to send a lot of love on behalf of the team. And it sounds like the course would be a really good thing if you are stressed about your money at this difficult time.
It's also a good time to be really reflecting on money stories and where those came from and making sure that you're, you know, making the most of where you're at. So I definitely recommend it, and Jess pretty sure you have a little sneaky discount if anyone is keen after that, sales pitch to join the clay.
We had a few people take us up on this line time, so I'll pop it up once again. If you want to get yourself with the Budget and cash Flow Masterclass, I'll put in a discount code. Use the code POD fifty and you'll say fifty dollars off.
Does.
Make sure you turn that on when this episode goes live, because be real awkward. If feofore t in work, I will absolutely remember. I thanks so much. Sure right. Well, with that in mind, I think that's all we have time for today. See you next week, guys. The advice sheared on She's on the Money is general 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 financial decision. If you do choose to buy a financial product, read the PDS TMD and obtain appropriate financial advice tailored towards your needs. Victoria Divine and She's on the Money are authorized representatives of Money Shoper Pty Ltd ABN three two one IS six four nine two seven seven zero eight AFSL four five one two eight nine. At the work in