Just before we get started, we'd like to acknowledge and pay respect to Australia's Aboriginal and torrest Rate islander peoples. 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. Welcome back to another one of our Friday Drinks episodes where we celebrate the money wins from our special Shees on the Money community. There are always so many great money wins and confessions shed each and every single week in our Facebook group, and Jess, George and I spend a very big part of our week. In fact, it's becoming an even larger part of our week given we try to get even
better and better content. Yeah, we'll talk about that off there, but we spend a very big part of our week talking about the things that you guys share with us in the office. So Now is the time to grab a drink, throw back your hair, and relax and get straight into the week that was with Miss Jessicarci up first to let us know what happened on Money Does this Week Hello.
This week we chaed to someone who found herself in a position that many a person has. She was living off of Centerlink, which you know, multitude of reasons that can happen. We've said before that that can be a really tough spot to find yourself in. She didn't want to be in that position. She got herself out of it. She now runs a six figure hospitality business, and she has another freelance business. She's got it all going on.
But it was truly really incredible to hear. And I think, you know, for a lot of people, you can find yourself stuck in a cycle and it can be really hard to get yourself out of that. But she really that with a little bit of tenacity and a lot of willpower, you can definitely do it.
I loved her and I like snooped her business later, I'm not sharing it with you. By Georgia King. What do we do on a deep dive? This week my Live Hello, we.
Spoke about protecting your financial assets within a relationship chexy, specifically de facto relationships l Yes, which was super interesting because, as we found through talking to the community, a lot of people don't really even know what de facto.
Is, and that you can accidentally be de facto. Yeah, exactly, deactor factor. I think we call.
And you don't think about all of the things that it can impact as well, which I have unfortunately found out over the past year.
Turns out having a boyfriend has cost this lady who wants to buy a house a little bit of serviceability. I know, it's so rude, Jane, straight to the bin. Love is the worst. We also have a wedding podcast coming up, so keep an eye out for that one. George, did we learn anything else in truth on that show?
No, I think they're the main things to remember, V But I guess also like just knowing that you have rights within a de facto relationship and that there are financial implications that you may not be aware of.
Yeah, And I feel like so many people say things like, oh, but we weren't married. It's like no, no, no, no, sir, sit down, Like it just doesn't make that, It doesn't make that much of a difference. So I'm sure in the sixties it made a massive difference as to whether you were a married woman or not. But nowadays it doesn't actually matter as to what your rights are. And I think that too many times we undervalue our contributions in a relationship. And I think that was another one
of our building that up podcasts. So I really enjoyed it. But I also really liked talking about estate planning and assets in wealth creation. So for me, that was a good episode, but maybe a little bit dry. I promise we've got some really exciting content coming up very soon. Some absolute calkers can confind. Yeah, Like, we literally just recorded one, so I reckon it's pretty good. Tickets on ourselves. You know else, I have tickets on ge community. No
my ability to segue. Could you think I say way to get into money wins this week?
Well, I was going to say, you know what else is a corker because I think I said corker earlier? Yeah?
Good, nice, those will use all right, let's go.
Okay, the first money win of the week, ladies, it comes from Ruby.
I will claim this as.
A money win. I was shopping at Country Road and realized I could fit into kids sizing, which is half the price of adults.
Oh my gosh, yes, brilliant, Yes, yes, you're a genius. The Kid's Ranger Country Road is stunning. Okay, But like Ruby and I, same page this week, I have been pining over this very fancy puffer jacket, but in the adult sizes too expensive. Looked at the measurements adult size eight same as fourteen year old kid money win. It's less than half the price, so anyway, it's still an expensive jacket. But I've justified it to myself, and I would like to hear another money win before you guys
question my money decisions. Brilliant.
The next one comes from Jess money win for charity. I raise over twenty thousand dollars. Yeah, make a wish and donate life over Easter by running a national car event with my husband.
A national lass. What a honey.
The event bank account stayed in the green during organizing.
Always a good feeling.
So apart from a couple of last cleaning bills I have to pay, that is all above.
Board and yeah we're done. Oh my gosh, that's so special. Twenty grand, twenty big ones. That's actually do you're not kudos to you, because raising money for charity is so hard because people are like, oh, Jeff, here's a one thousand dollars. They're like five dollars here, ten dollars there. It's like all the small things that add up, and it usually takes so much work. So I'm impressed. I'm very impressed. We love what an Angel?
What an Angel onto a slightly lower brow money win, but they all count. Did you know someone's money, Well, have a listener. Okay, it comes from Laura. I got two plant based working low brow. I got two plant based burgers from Grilled on Monday for.
The price of one. Oh that's that is a money plus. With the rewards program, I got a free small chips too. Can we just talk about how expensive plant based burgers it Grilled are. I'm not across it, i am because that's what I eat. If you get the vegan guard and Goodness which has the it's like the unreal meat, like it's the fake meat burger, and then you obviously eat you're just like me, So you get the gluten
free bun. And then you also add grilled pineapple, which you can't miss, like grilled pineapple and any burger ten out of ten, it's like twenty three dollars. What the hell it's grilled? Is it meant to be takeaway more expensive? I'm assuming that a normal grilled burker. Yeah, like fourteen or fifteen years That interesting.
I saw a really interesting breakdown a little while and this is wildly off topic, but how much money it saves when somebody eats the plant based diet And it's like the cost for me personally, well, clearly not, but the cost of raising I suppose animals, you know that whole process, the water, the food, et cetera, versus I guess the water and fertilizer. Maybe for like the plant based products, it's like a really significant.
So we're paying more money for them to save more money.
Yeah, ripoff, and also the environmental impact would be substantial.
Then I could also eat the veggie burger. They have, like a very good veggie burger that's much more reasonably priced, but I'm not going to do that. True on Monday, come.
At me our next ween. It comes from Sarah. I received my first ever dividends page. It was only about thirty dollars cares, but it feels great, even in these difficult times in the stock mar Oh.
My gosh, love that. I love that. I love your first diffidend. Yes, so sweet. The next week it comes from Nicole money Win.
I had to get my puppy some Tick and Wormer tablets, so I bit the bullet and ordered them over the Easter weekend. Come the Tuesday, I've got a flashy message about a sale on exactly what I had ordered, and Tick and Wormer apparently is not cheap thanks to this group. I contacted the company and they refunded the difference straight away, and I'm so glad I found she's on the money.
Oh what a legend. I love that.
The next ween, it comes from Megan money In. I noticed the price was different to the price label on a package of twenty five dollars stake at Coals. I took it to the checkout and scored it free through their price scanning promise.
This was gold in grocery money. I have no idea, I just need it.
I'm not one hundred pcent, but I think it's if it's marked wrong, you get it for free or something.
That's what it sounds like.
Anyway.
That sounds so expensive, but apparently not as expensive as plant based alternative.
The final one for the week, guys. It comes from Pierra Money Win. I scored a nine hundred dollars zimmum and dress for seventy dollars.
Sorry, work money scenes. That is a very good money win. O. That stuff is going to make sure that I don't meet any of my financial year. That's what that stuff does to us. That's it for the week, guys. Yeah, I love that all good money wins this week. I want to hear people's confessions because I've been a little bit naughty with my spending recently. So maybe we do call out next week and confessions come on. Yep, confession specifically, I hear your money wins. We'll keep that thread. I
want a confession thread. I might just even go broke and ask for one myself. Thanks for coming to my ted talk. Let's go to a quick break and then we're gonna have a chart. Apparently you're going to bring up our friend Elon Musk again and we have a listener question, so stick around already, guys.
Last week we spoke about mate Elon Musk and him going a little bringing in back. I'm bringing him back because there's been a development so raumba how I said he bought the majority share, was going, Oh, should I go on the board?
I'm going to go on the board. Just kidding, No, I'm not going to go on the board. It was a board, no board. It was just imagine having the money to joke about that about Twitter.
I know.
Well, Twitter has just announced that it has agreed to a full takeover by Elon Musk. He's spending a CRISP forty four billion with a b forty four billion dollars to become the owner.
Of the platform. I'll just chump change.
Oh yeah, well, clearly it's been approved and now he's just subject to a shareholder vote, which they're saying is very likely to go through at the time that we're recording this, which means that everybody who owns a slice of that pie, sorry, but see you later.
Yeah.
But also, they are getting paid out quite handsomely for their shares. So they're going to get paid fifty four dollars and twenty cents for every share that they have, which is above market price. And if you're thinking, like, well, why did Twitter let that happen, it's kind of because Elon made sure that it did. Happen like it was going to come. I think a lot of people like, oh,
it'll never happen. But like looking at it and the way businesses in America function, if Twitter didn't actually accept Elon's offer, they would have been down as bad directors because it wouldn't have been in the quote best interest of the shareholder. And the best interest of the shareholder is getting them the best return possible on their investment.
So they've done quote the right thing. But like, that seems wild to me that it's now going to go private, And I would really wonder what that means for communicating because like Twitter has always been I don't know if you guys see it the same way, It's kind of been like the wild West. Like so, there are you know, obviously some great people on Twitter, but there are also some people that you just don't have a lot of
respect for. I mean the fact that Twitter allowed Donald Trump to be so vocal, and it allowed a lot of politicians to have their say on there when maybe they shouldn't, and historically there has been a lot of misinformation shared on Twitter. I'd be really interested, or I am super interested to see where this I guess medium of communication goes and what Elon's plan is because now he just don's Twitter like what, Yeah, pretty crazy.
He did say free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to the future of humanity are debated. I also want to make Twitter better than ever by enhancing the product with new features.
So he's obviously thinking about it.
And there was a lot of discourse when he bought the majority share where people were beginning to worry about this happening, because, as you said, it's definitely kind of been an open forum for people to voice their opinions, good or bad. You know, freedom of feature is something that we're all entitled to and that has very much taken place on Twitter as a platform. So there were a lot of concerns that censorship in some way, shape or form is going to come about. So it's really
interesting to see what's going to happen. And I have seen a few people talking online, ironically, some of them on Twitter.
Do you go on Twitter often? Yeah?
I do actually have a World News I follow a few like internet people I guess that I really like. But I also find it's a really interesting space to gauge like general consensus and the mood. Yeah, see opinions that might differ from mine. Sometimes I fall down a bit of a whole. But a lot of people discussing. And this is a real throwback for my Internet peach from back in the day. But when Tumblr was purchased by Yahoo, don't know if any of my other fellow.
Ladies billion dollars you remember, I can't remember what year, but it's at a while ago, and I was heartbroken because Tumblr was my teenage emo dream like. There were just I've just had a lot going on. There's a reason I deleted my entire time inspected from the Internet before starting this podcast by didn't we all.
But when Yahoo purchased Tumba, they made a lot of significant platform changes, and people essentially boycotted the platform and it died a very quick death.
But people eat it.
They eat it, indeed, and they're saying that maybe that's something that will happen for Twitter if all of these changes come in. People are talking about hey, like vote with you know what you use and you're if you're not using the platform, it's actually no value to him. He's going to lose a lot of fax and people just don't like Elon Musk as well, So I'm really in's a lot of.
Colorful opinions on him, which I can completely understand. But it's interesting that people would literally boycott their day to day functionality and the way they function on the Internet because they just don't like someone.
Yeah, I think it just opens potentially the place for a new platform to a march one hundred percent.
I'd be so interested to see what happens or even how other social media platforms adapt to this, Like how is Facebook and Instagram and TikTok? How are they going to respond to? You know, I guess entire I see people away from that platform, like a Facebook status is coming back? Like probably not, but like I don't know, maybe.
Did anyone else get that on this day ten years you want communicating with a posts?
Yeah, I've never been more embarrassed in the fashion and that person is me ten years ago on Facebook. Honestly, Like, who thought that was a good idea? Unpopular opinion? Maybe?
I don't know, but I'm kind of I really have my fingers crossed.
You just want to see a train ring?
I want to twitter burn, twitter suck?
Yeah, why do you want this. I've never heard you like wish anything terrible on anyone, and now you want someone's billions to burn. Well I would I know nothing against Elon O.
Great guy, all reports, but Twitter, I think because that's not what reports. Okay, Wh's not my mate, but I just think Twitter, of all of the social media platforms, is the one that is rife with the most disgusting, vile behavior. And I think if we can eradicate the platform by this giant taking it over and hopefully ruining it and having people abandoned shit because of who he is, I think that would be fantastic.
Like it's a Winter George like over. But yeah, I don't know. I'm excited to see what happens. You all want to see a train wreck come onto you. I'm excited to see what happens, just because they like watching the markets and how that's impacting, you know, other social media platforms. I wouldn't be surprised if other billionaires come out of the woodwork and decide that they too want to have some level of I guess control of different
social media platforms. And it would be interesting to see why and when and what Elon's actually planning because as much as you want to see it full from grace because of his reputation, Like a lot of people might be happy with it, because obviously Elon said that freedom of speech was really important, So maybe he's not going to sense of that platform at all. So like, who knows what's going to happen or how it's going to
be taken up. I'd be interested to see if it kind of goes a bit more down a Reddit rabbit hole where it's a bit more niche and not so mainstream. I don't know.
I wonder if you're part of it as well. Is him kind of taking it to Zuckerberg as well as a fellow bajillionaire.
My social media platform is better than I bought mine. I didn't even have to work.
Must be nice before we move along. I just wanted to ask. I wouldn't be surprised if people in our community, if some of them hold Twitter shares. And obviously we always talk about you know, you're investing for the long term, you're purchasing stocks with that in mind. What if someone's purchased for stock, you know, in the last few years, and then all of a sudden it's basically been sold out from under them. Do they need to be concerned me? Or is it going to be okay? Look all's fair
in love and more. It's how the market works.
Like if you are being bought out, you just have to look for another asset that is going to you know, have the same risk yield and I guess values that you had and don't forget.
Once that money hits your account, you will be liable most likely to have to pay capital gain Well, it depends, so you'll have to pay capital gains absolutely if you've made a profit. If you have held it for less than a year and you're living in Australia, there are higher capital gains taxes to be paid than if you've
held it for more than twelve months. But it's the best thing, honestly is to either check with your share trading platform because they're probably going to announce some kind of like info sheet on it because it is so big and it is going to impact so many people, or come June thirty, just touch base with your accountant to make sure that you're doing all of the right things. All right, Well, enough about Twitter. We're probably still.
Gonna mention it in episodes to come because I think It is kind of interesting to see how the market is changing and see what happens in the market, because you might have spent ages looking at what you want to hold in your portfolio. You might have picked Twitter and then been like, what do you mean I can't have that anymore? What do you mean? It's being taken
off me? And that's just what's going to happen. And there's probably a lot of ETFs out there as well that are holding Twitter that are now going to have to process that and rebalance the portfolio and find an alternative technology company to invest in it. I'd be really interested to see, genuinely, and I'm going to, yeah, like,
what are the brokers picking up? And I have these conversations every single week with the stockbrokers in my business to understand, well, how does that work and what are you guys seeing and how are you thinking? I want to know who they're planning on replacing Twitter with in people's portfolios. None of my client's owners, so we I don't get to be in on it, but I want to know the information, you know, I just want to see what's going on. I'm a little bit pervy for.
You answering it themselves let us know it would be curious.
Sad, and why tell me? I want to see your investment mandate tell me anyway, Moving on, we have a really interesting money question from one of our shees on the Money Listeners that I feel like it's going to be a question that a lot of people in this community have been asking.
Hello, longtime listener, first time call, and my name's Jay. I am just wondering I've saved quite a bit of money over the last couple of years over COVID, and I've got split evenly between an index fund and savings. So there's about thirty k split evenly, half to index fund, half to savings, and I'm just wondering if I should put more of that savings money into investments rather than just sitting on it where it's not making a lot
of money from interest. I am a bit worried about, you know, putting all my money to investments in case I want to spend it. But I'm also thinking I have too much money sitting in savings. What's a good split? Thanks?
All right, Jay, my friend, what you are asking for there is personal advice, and unfortunately we can't give that, but I can articulate. I suppose a little bit of like thinking on that question process, right, because you're looking at it and you're going, look, I'm saving, but I'm also investing, Like what split should this be? And the only person who can actually answer that is you. So at the moment, I have no idea of your personal circumstances or what you want to achieve, or how you're
doing it, or why you're saving. Like are you saving for your first home, in which case that should be your priority to you? Are you actually not not saving at all and the priority is investing, in which case your priority split is going to be different. I think to work out how much you should be saving and investing, you actually need to sit down and really write out your own goals and what you want to achieve. So, what do you want to achieve for an emergency fund?
What does that actually look like for you? And the thing about emergency funds is they're so different for everybody. Like, at the moment, my emergency fund and I'm going to take a wild stab in the dark, is probably higher than yours, Jess and yours George, purely because I've got a mortgage, I've got a partner, I've got three pets.
There's like a lot of financial responsibilities in my life compared to Jess, who you know, you've got your savings that you're planning on buying a house with, but you're not financially responsible for any other humans or a partner, And then George you'd be in a very similar position. So we all have different personal circumstances. And I have no idea what Jays is. It's j single who knows.
That's a weird question to ask on this podcast, hah, But it's one of those things where I don't know what that looks like for you, and you need to sit down and go all right, I need to know what my emergency fund should be and work towards that. I need to think about why I'm investing in the first place. What am I actually doing. Am I investing just because it's fun? Or am I investing because I want to create an early retirement? And if that's the case,
are you investing enough to achieve that goal? Or have you not actually sat down and worked that out? Because a lot of what we've said when we talk about goal setting is working backwards. Because if you're planning on retiring with a specific income at a specific age. You've then got to work backwards as to how much money you need to save or invest each in every single month, week,
or fortnite or however often you get paid. And I can't tell you that unless I was your financial advisor and I literally looked at everything that I'm telling you to look at right now. So it's very frustrating. Because we also had someone in my DMS this week, Jess going hey, V like, I'm just wondering I finally got to the point where I can buy property, really excited. My partner and I trying to work out though, do we buy an investment, do we buy a family home?
Do we buy a land? I'm like, I can't answer that one legally because I could literally go to jail for five years and have a million dollar fine. But true, yeah, thank you as sick, but also I fully respect that. But two, I don't know you from a bar of soap. If you're in my DMS, like your profile picture is cute, You've spoken to me really nicely, so I'm assuming you're a nice lady. But how am I meant to know your financial responsibilities and what would be better for you?
Because just cause something's better on paper, Like we could look at the different asset classes, right and go, asset class A outperforms every other asset class. That does not mean that it is the best option for you. So I think it's really interesting when people ask questions that are so like which bucket should I be putting stuff in? I'm like, do you know what, even if you went to a financial advisor, they're going to sit down and be like, all right, Jess, tell me about your goals.
What do you want to achieve? And that's a process you can go through on your own.
It's really interesting. I think a lot of people think that way. I mean one because it definitely simplifies the process, Like could say, oh my gosh, everybody should have fifty percent here and fifty percent there. It would make your life easier. But there are other platforms. If anyone's like me and has read The Barefoot Investor, who will straight up say you should be allocating x amount of your income to here, and as you say one, that doesn't
work for everyone. But it's also important to recognize that that can shift. Like I'm saving for a home currently.
So you're going to be real aggressive with that right.
Like, I am still investing, but the amount that I'm investing has dropped off significantly to allow me to prioritize my primary goal.
So I need to get financial advice. So that makes sense.
Yeah, but I think as well, like it doesn't necessarily mean that you have to do one or the other, Like he doesn't have to just be saving or just be investing. Like it's going to depend on which one is his priority, and we can't answer that for you.
Yeah, and if both are a priority and you want them both to grow alongside each other, like you can do growth. But like if you're planning on you know, not even looking at that particular circumstance, but like, take your circumstance, Jess, you want a house so bad, and like I cannot wait until you get one. But hypothetically, if you just split it fifty to fifty, home ownership for you would be another eighteen months off because of the way you were previously investing, in the way that
you were previously structuring your savings. You were like, no, I need to turbo charge this goal for the short term so I can achieve that and then I'll work out my financial situation after that. Like things change and shift, and I guess it's very hard also because like who knows is Jay earning eighty thousand dollars a year or is he earning eight hundred thousand dollars a year, because like that is going to be very different. So it's yeah, unfortunately.
I hope that's given a little bit of insight. Goal setting is the most important thing that you can do for your future financial self. Sit down, work out what you want life to look like. It could start as like a little vision board or something really nice where you go, I don't know how much it's going to cost, but like, this is the type of life I want, and this is what I want to create for myself. And I think that vision boarding for me, it sounds fluffy,
but like Jess vision board as well, don't you. I love it. I need to do a little team day where we just with our little vision boards, this physical vision Yeah, yeah, yeah. I actually have like a corkboard from Kiki k It's white, obviously very aesthetic, and I cut things out of magazines or like write things on post it notes and stick them to my vision board
about achieving the goals. Actually, we're in the office the other day talking with Jasmine who works for Zella, about this, and she has one and she was like, oh, Ve, like, I manifested my job with you at Zella because I put it on my vision board. Like I put She's on the money on the vision board and said one day I'll work with Jess and Victoria and she showed us specific yeah, but she showed us all these other things on her vision board that she was either already
achieving or had done. And I was just like, get it. Like, I just feel like if you visualize it and you can see it, you're more likely to achieve it. And it also, mine's on my wall behind my desk, so if I'm like, you know, just bored and looking around and not doing my work, I kind of see that and I get a little bit more motivation to keep working because I'm like, oh no, I've got so many things that I want to achieve or like do. Yeah, it's kind of cute and I think a really good vibe.
If you're not ready to sit down and do the financial side of things, vision boarding can be really powerful to go this is the direction I want to go in. I have no idea what I can afford or what it looks like yet, but like do that. It's cute, it's fun.
I'm going to make that a thread. It's gonna go up to stay in a Facebook group. If you are a fellow vision border show it your vision boatch can fine wedding stuff at the moment. All right, guys, I think that is all we have time for today. Georgia, can you please wrap the boring but important stuff?
Of course I can.
Alrighty, guys, Please remember the advice Jed and 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 a financial decision.
Or a vision boarding decision. Do we promise?
Victoria Divine is an authorized representative of in Focused Securities Australia Proprietary Limited ab IN four seven zero nine seven seven nine seven zero four nine AFSL.
Two three six by two three. We will see you on Monday, guys, see you next week.
Heem