She's On The Money - Fast loans are not your friend

Episode Date: August 13, 2019

Happy Wednesday our glorious money-conscious listener friends! Coming up on today's show: the EPITOME of bad debt, fast loans. What are they, how do they sneak up on you, and what can you do to avoid them at all costs? We're covering it all. Do you love the podcast SICK and want more SOTM? Of course you do! Join our Facebook page to share your money wins and money confessions, follow us on Insta for daily inspo to keep you on track and DEFINITELY subscribe to our newsletter, the written recap of the pod's key takeaways, including some bonus bits you won't want to miss... In a money mess and need help untangling the muddle? We've got you sorted - simply record your qualm and send it through to us at [e-mail] and you may end up on the podcast! The advice shared 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 only and should not be relied upon to make an investment or financial decision. Victoria Devine is an Authorised Representative of Consultum Financial Advisers Proprietary Limited ABN 65 006 373 995 I AFSL 230323.See omnystudio.com/listener for privacy information.

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. I'm one of your co-hosts, Annabelle Lee. I'm a law student, a millennial, and someone who is on a desperate quest to get better at all things money. To do that, each week I enlist the help of my friend and money expert, Victoria Devine. Welcome, Victoria.

Thank you. As always, Victoria, let's share some of our favourite money wins from the week. I'll go first with Jess. She said, huge money win, with a little party emoji. I officially paid off my personal loan today. My husband and I are about to refinance our home loan to start building on our block of land. so we've been budgeting hard to pay off our existing debts two months ago we paid off our credit card debt and today we've paid off my personal loan managed to avoid any fees for

paying it off early too so i'm feeling pretty good now we can use the money we've been using to clear these debts to save for furniture for a new home how great is that i love a good furniture shop as well oh same not that i do it often i actually love the part where she paid off her debt oh that too yeah furniture good paying off debt better so i've got one as well actually this one's from Eleanor. She said, money win. I recently learned that even if you only use your MyKey Monday to Friday, a 28-day pass brings down your daily spend from $8.80 to $5.30 a day. I used my tax return to buy a 28-day MyKey pass for $148.40, which saves me a total of $28.80 a month. I'm now transferring $72.40 every fortnight when I get paid into a savings account so I can continue to

buy a 28 day pass every month $28.80 savings for 12 months equals a total of $345.60 now that's a nice little saving that's a big saving that's a great saving Mikey's are bloody expensive they are really expensive but I also think this is really applicable to everybody whilst Mikey is Melbourne specific I think that's really applicable to everybody who catches public transport in Australia because I'm sure that every other you know transportation option has an option to buy a pass and i think that you know everyone should maybe have a look at it and if you're a uni student or like a full-time worker this is like a really helpful tip yes and also to add to that the comments in this said that if you catch public transport and you touch on and touch off before

7 a.m the trip is free what how good is that sad for these people that have to catch public transport before 7 a.m how good is that i've got a girl in the office and she comes in quite early because she's an early bird but she gets free my key in the morning and then only pays for it at night wow yeah brilliant victoria today on the show we're going deep on the thing that may strike the most dread in you personal loans oh it does but before we do that it's time for us to share a money win or a money confession for the week what you got here's me first again all right i have a money win um which is good because i think i've had a series of confessions so my money win is that three days this week i have brought my own lunch to work and it's been delicious and it's

been the same thing but that's okay I'm not what does it mean I've actually I saw you in the Facebook group post your like Tupperware meals oh yes those were my breakfast they looked delicious yeah that's like a birch and muesli with yogurt that I really like yeah look Sunday I've decided is my day to start planning my meals and so in the mornings I've been making birch and muesli with yogurt and frozen berries which I really like but this week I've been doing like a little I guess you could say party platter of like carrots and celery and some cucumber and some dip and some cheese I've really liked having that at work because it's really easy to prepare all at one time and then just you know grab a handful of carrots and grab some biscuits and pop it on a

plate at work so I don't actually have to make lunch every day or every night after work I feel like it's a good money saver but it's also a good way to keep healthy you said celery you said carrots that's all I need to be yeah look there's some cheese in there some dip and some biscuits so it's not all super healthy but I think that it's really good because it's saved a heap of time but it's also been really delicious what have you done this week I've got a money win yes also food related and also brunch related I promise this is the last time I'm going to mention brunch no I think we've done it too many times brunch every time I downloaded the app eat club after so many of my friends were saying you need to download it because we always go out for

brunch and if you go on the app it tells you all of the cafes in your area that will give you I think 30% off yeah you sent this to me it's awesome I think it's 50% off sometimes it like it varies but it's a really good deal yeah so what what's the deal it's like you book a table for ten dollars and then you get 50% off your bill yeah so you've got to go and book within like within two hours I think or something like that yeah it's gonna be pretty last minute but if you're planning to go to brunch on a Sunday you may as well leave it to the last minute and you know head there anyway yeah very cool okay Victoria first things first how do you define a personal loan we've already touched on other loans in this podcast like help debt but how do

personal loans differ can we just preface this by reminding everybody how I said that I believe in the three different types of debt so there's good debt there's okay debt and there's bad debt yes and we said that help debt and mortgages were okay debt and good debt was investment debt and you know things that help build your wealth and then we've got personal loans and the big red flag is bad debt and that's yeah that's personal debt so that's where we're at today essentially a personal loan allows you to borrow money usually for a particular purpose or need and they are able to be used to consolidate debt so you could take a number of different loans or credit cards and put it into one so you're charged interest on the amount of the loan and then you repay the loan

amount plus the interest over the term of the loan. So that could be for a personal loan anywhere between five and ten-ish years. In the last 12 months in Australia, 619,000 personal loans have been processed, advancing a total of $476 million. And they're massive amongst people our own age. According to Finder, 46% of millennials turn to personal loans, with cars and holidays as the main reasons behind the splurging. What's your take on so many young people turning to personal loans to finance their lives? Look at you and your statistics. I'm so impressed. Thank you. So I think that it's a really interesting space because it's one of the first times in history where we've actually had such access to personal loans. Previously, they've either been really hard

to get or the criteria of them maybe hasn't been as easy to meet. Please don't get me wrong. Over the last 10 to 15 years, they've been incredibly easy to get hold of because all you have to do is put your hand up and say I earn an income here's a couple of statements of my salary and here you go well done but I think it's something that because it's more accessible and because we live in this world of instant gratification and because we often don't understand you know basic financial literacy if I'm honest they're becoming a bigger issue. So one term I came across in a lot of my research is payday loans or small amount credit contracts can you explore what these are and why they're so popular so a payday loan is actually a really high cost short-term loan

so payday loans include really small loans so they're usually up to two or three thousand dollars often the catch there is they've got an interest rate it's usually pretty high but if you do not pay it back within you know the 16 days or 12 months the interest on that compounds significantly so it could cost you four or six times more than what you borrowed so the most common is double So, if you borrowed $2,000, you, at the end of the day, could owe $4,000 and that is honestly ridiculous. And it's more likely if you're going out and getting these loans, you need that financial help that you're not really going to be able to pay it back within that time.

Absolutely. So, there are so many stories of payday lenders, you know, abusing the system and we've just been through this Royal Commission, which looked into banking and so many people have been reprimanded for bad behaviour in this area and a number of payday loan companies have actually taken themselves out of the market and decided that that's not what they're going to do anymore. So an example of that is Nimble. So Nimble Loans have decided that payday lending is not something they're willing to do anymore. Payday lending is, you know, a really interesting space because often when you are looking for a payday loan, it's because you are feeling quite desperate. It is

not because you've thought about this over the long term and you're, you know, deciding to go on a holiday it's often in the moment spending and you're borrowing a sum of money that you couldn't otherwise afford to be spending and it puts you in a position of disadvantage. So I think the statistics say that the number one user of payday loans are single mums and that's not great because often in that position they don't have the income to support themselves but then they're also under financial stress already. So the probability of them being in a position where they're unable to pay back this payday loan is quite high and then you know you're in all sorts of trouble after that yeah because those fees don't really dissipate as a

single mom no no and then they're not reasonable or you know often not negotiable as well they are very strict are there any circumstances where people will get these loans who aren't necessarily that desperate for money like are there any exceptions do you think I think so but in saying that I would never be able to justify a payday loan not just for myself but anyone. Payday loans are something that you know it's quick cash and at the end of the day if you're in a position where you can pay that back in one or two weeks then okay but at the same time you as an individual should have access to things that enable you to purchase those things or why can't you wait two weeks. So what is the difference between secure and unsecure credit? So and let's talk about this

in loan terms when a loan is unsecured it means the loan is not secured against any of the borrower's assets so you just get given a loan and there's nothing I guess holding it there for example consolidation of previous credit card debts or a holiday or something essentially you have a debt with no asset that that bank or that company that you've lent money from can sell down to pay that debt back it usually has a higher interest rate on that so you know a personal loan might be anywhere from 7% to 10%, but an unsecured loan, unsecured personal loan will be anywhere between, you know, 15% to 22%. And then a secured loan is a loan that is secured against an asset. So if you as the borrower fail to make repayments, the lender then gets some of those

assets that you've used to secure the loan to cover the outstanding loan amount. So an example of that could be a car loan or a home loan where, you know, if you're desperate and unable to get out of the debt the person who you borrowed money from or the bank you borrowed money from will take those assets and sell them on your behalf to recoup some of their costs this might be a bit of a stupid question but what if you have unsecure credit and you're unable to pay it back like do you go to jail so you could so that's essentially fraud you're not paying back something that you owe um i'm not saying that that happens in every situation but that's something you need to talk to the lender about. You also need to probably talk about getting some financial

counselling and working with someone to work out what's going on there. I would never recommend it but in some situations filing for bankruptcy is something that helps people in that situation but bankruptcy stays on your record for a really long time. It hinders you being able to invest, it hinders you being able to buy a home, start businesses, do a whole heap of things. So it's really a last resort but at the end of the day if someone is in so much debt and they're unable to pay it back and it's hindering their mental health and their well-being and you know their life in general filing for bankruptcy can be a really good option in that situation I'm not saying get in a whole heap of debt and then file for bankruptcy though because it is a really big step and it is

something that really does have a lot of negative consequences but there is a way it's just not a good outcome and it's not a fun one for anyone so you've got to be really careful with these personal loans and stuff. Absolutely. I don't think that, you know, I think it's a really privileged thing for me to say that I don't think that personal loans are ever justified, but in some circumstances they are. But at the end of the day, if you're getting a personal loan for a holiday, like you really need to rethink your goals and work out why on earth you can't just wait to go on that holiday. So lots of payday lenders say they offer a quick cash lifeline and are helpful to the average Australian. Do you agree with that? Do you see

quick same day loans is a good thing? Absolutely not. I think that they, it's a really good marketing strategy though, isn't it? Sounds nice. Yeah. Sounds brilliant. But I think that there are so many alternatives to payday loans that you need to consider before going, oh, my bills are due. I really need to get a loan for this. So one of them is you could be negotiating with your utility provider. So people are quite flexible. At the end of the day, they just want you to be able to pay the money back. So if you can call and have a really open, honest conversation with your energy provider and say, look, I don't have the money right now. Often they have programs for people experiencing hardship and you're able to go through those routes. You could also, if you're

in that situation, talk to Centrelink about getting potentially a pay advancement. That's something that's available in that situation if that's something you're utilising. And then there are places like the Good Shepherd Microfinance who have no income loan schemes. They are called NILS loans and they are available for people within the community who need access to fast cash and aren't able to access it. So I think that there are so many different options for people who need fast cash, but they don't need to be relying on people who do same day pay loans because there's only negative consequences and really high interest rates associated with them. So there are absolutely options for people who feel that they need fast cash, who don't want a personal loan.

Yes. And if you're in a situation where you feel like that's something you need and you don't see another option, type into Google financial counselling and your area and something will pop up and you'll be able to contact them and they'll be able to direct you in the right place. places like Good Shepherd, microfinancing, have partnerships with, you know, support agencies all across Australia, and you'll be able to be put in contact with the right place without getting yourself in over your head. We need to prioritise long-term benefits rather than the short-term fast cash. Yes, absolutely. I really want to finish on a quote that I think is a good way to wrap it all up. Speaking to the Australian Financial Review, Consumer Action Law Centre Policy Officer Patrick Sloyan said if this is the only way low income and vulnerable people can access funds and be exploited in the process that's a huge problem

hi there you've called the she's on the money hotline do you have a money problem you want help solving do you have a money dilemma you just want to chat about victoria is here to help each week we'll be playing your hotline questions to help make sense of the money mess you may have found yourself in. Give us a call on 0435 293 886 and you might find yourself on the show. Hi Victoria and Annabelle. I have a really silly question, but one I don't know who else to ask. How do I check my credit rating and what are the things I can do to make sure I have a good one? so victoria let's strip this back to the basics what is a credit rating so a credit rating is an estimate of the ability of a person or a company to fulfill their financial commitments based on

previous dealings so how do i find mine how do i check what money so you can google what's my credit rating and there are a number of websites that will help you do that personally i've used equifax in the past and i find that quite reliable you do pay for it but i also think it's really important to note that when you are checking your credit score it goes on your credit score. So you know you'll have a credit report and it'll be put on that credit report that you've checked it so it's not something I think you should be checking all the time. So why is it important to have a good credit rating? So it's a very American thing to say you need a good credit rating. Here in Australia a credit rating or a credit score is you know it exists it's important I think that

people should know what's on their credit score because sometimes in, you know, very dramatic cases where identity fraud has happened, it's a good way of checking, you know, what debts you have, what's going on with your financial world. Often, you know, if I look up my credit score, it'll, you know, talk about the businesses that I have, it'll talk about, you know, the phone plans I'm on and, you know, previous, you know, finance dealings I've had and it all looks quite normal. It's not something you should be checking all the time but I do think, you know, the occasional check once every five years is fine I don't think it's something we need to obsess over though because a credit score is not what is used to determine your home loan

so like people in the Facebook group recently have been talking about getting credit cards to improve their credit score whereas that's not an Australian thing that's an American thing you absolutely do not need to have a credit card to increase your credit score you just need to be making good financial decisions not defaulting on your bills paying your bills when they come in and making sure that, you know, you're not going into unnecessary debt. A credit rating is something that a bank looks at to make sure that you're someone that they want to lend money to when it comes time to do that. And what about a credit report? What is that?

And why does checking my credit rating play into that? So it's much of a muchness. Your credit rating will be on your credit report, but the credit report is the longer-winded version of a credit rating. Credit rating is a number, and the credit report will have all of the information that got that number okay so how does someone improve on a bad credit rating then paying their bills on time making sure that they are not you know defaulting on anything those things stay on your credit rating for five to seven years so I think it's really important to

make sure that you're not biting off more than you can chew so don't take on unnecessary debt don't take on personal loans but I really want to reiterate this point again to improve your credit score you just need to clean up your act you don't need to go get a credit card you don't need to go get a loan you don't need to have you know a home loan to prove that you're good to lend to you just need to be consistent with what's going on and if that means you're consistently paying your phone bill and your electricity bill and everything that you owe is always paid on time and the right amount we are good to go and that includes things like after pay right as we mentioned in the last couple episodes yeah so we had an episode on after pay and that's one of those things that

will come up on your credit rating and it will come up on your credit report and I think it's really important to note. So because it's on your credit report people can see that when you are going for a home loan the bank will do a credit check on you and they will get this report for themselves and they often get a far more detailed version of it than you will get personally from you know a credit check website. On that report if after pay is on there I'm not saying it's negative it will just look like a debt and it will show your borrowing capacity on that platform it will show the bank what type of person you are so a bank will look at it and it's not like they will say no you've got after pay we're not lending to you but they might reduce your capacity because

of the loans that you already have or the access to credit that you have so they will look at it and say look Annabelle you've got you've got after pay maybe you are a bit more impulsive than we thought you were oh no they know all my secrets yeah they know all your secrets but that's what after pay looks like on a credit rating it is not hey Annabelle's a bad person we're not lending to her she has after pay it will just negatively impact the way that they measure it and it will look as though maybe you're a bit more impulsive than you should be so personal loans will affect my credit rating too yes absolutely they will because any personal loan that you have or any credit limit that you have will reduce the ability to access money and access a home loan so that's

I guess you know the most common area that we talk about credit ratings in and when we talk about it I'm not talking about hey Annabelle you've got $2,000 on your credit card I'm saying how much is your credit card limit because that's the amount that you won't be able to borrow money from the bank in relation to a home loan so they don't care if you've got $2,000 or there's nothing on the credit card they care that there's a $4,000 limit there because that's access to credit so often when people are going for home loans and they want to increase their borrowing capacity they will you know shut down credit cards shut down after pay because that will increase the amount that the bank will lend to them because they have less access to credit.

Now let's jump into our Money Diary segment. Let's go. Today's Money Diary is from a woman who says she needs help when it comes to money. I'm 28 and love instant gratification because I find the reason why I'm so bad with money is because I'm like oh I like that I'll just get it because the money's in my account and then by the end of the month there's no money left in my account and it's not like expensive things it's I mean it'll be like a $20 top and I'll be like oh I love that top it's only $20 I'll get it because I can afford 20 bucks but all the $20 is add up so it's just that and then I'll wear that top maybe twice and then it'll go in the back of the wardrobe okay so we know 28

and loves instant gratification has made some mistakes in the past but let's hear the juicy stuff how much does she earn and how much is sitting in her bank account right now I earn $60,000 a year uh I probably have about $600 in my savings account uh I probably had if you'd asked me three months ago I would have said I've got like three grand but I've just come back from holiday. So I spent it all. I don't mind that there's only $500. I know I've just come back from holidays. I would prefer saying like five, $600 instead of zero. When I came back from holidays, it was zero. And that stressed me out because I don't have any emergency money then. That's sort of my emergency fund. My long-term savings does not exist.

And what exactly happens to that money after it's deposited into her account? So I get paid monthly and when I get my pay, it gets organized into three separate accounts. I have savings, spendings and bills. So I know exactly how much I have to put away for bills. So that goes first. Then I allocate myself a little bit for the month for spending. And then the rest goes into savings. I pay $1,500 in rent every month, which is a lot, but I live by myself. So, you know, what do you, what can you do? I've lived by myself for four years now when I first moved out of home everyone was saying to me get a housemate and I know that would make things a lot easier but I mentally I like my space I need to be alone I can't have

someone in my space all the time and I've seen friends go through fights and never be friends again and I was like I don't want that I don't want someone impeding on my space I also have two dogs that are quite boisterous with each other so I don't want them to be a responsibility someone else so mentally and just for everything else it was easier to be by myself and since then I love it I don't know if I could live with my partner he's so messy okay then so how does 28 and loves instant gratification feel about investing does she invest and if not why I do not invest I've never invested I'm pretty sure my dad once invested in my on my behalf when I was younger but I got a like thousand dollar phone bill so he sold all my shares and paid off this

phone bill and that was the end of that so he managed that for me I have not personally invested what about debts like credit cards and personal loans this is where my life is very interesting I have a car loan I have three credit cards um I have a small hex debt which I didn't even finish the course so it's nothing to me so originally my car loan was for forty thousand dollars because I had negative equity that I had to roll into it because my car broke down I'm very lucky though because I got a one percent interest rate on my car loan so after two and a half years I've got it down to twenty thousand dollars um so and then I've got probably three grand owing on each of my three credit cards and just checking my mygov I think I owe about five thousand dollars left on

hex debt or help debt credit cards scare me my partner tells me you have to get them under two grand so they stop incurring so much interest at the moment I can only afford to um pay off the minimum each month um so everyone always says stop like saving and just pay off the credit cards but I need to have that safety and once I get that back up to a thousand dollars maybe I'll start paying more off my credit cards so I put my flight to my holiday on my one of my credit cards and then the rest probably I think one of the credit cards I I would have used the money on moving out originally and that was four years ago and it's still only probably five hundred dollars paid off but that to me was like something I needed to spend that was buying all my furniture

so I spent about three grand on all my furniture oh three and a half actually and and I thought well if I can get everything for a house for three grand I'm all right but uh the rest of it probably over the years has just accumulated with bits and pieces dinners when I haven't had any cash just you know or you go out to dinner with a big group of people and then that no one's got cash or some people got cash, I'll just whack it on my credit card, you'll give me a cash. And then it doesn't get paid off the card, I just use the cash. So now I don't use them. So I only use one of them just to pay for my flights. And then that was it. They stay at home, they don't even come out with me anymore. It's just so stressful as it is to have three credit cards. I think probably

two of them also started with balance transfers, you know, to get the 0% and paid off. But you know as time goes on your zero percent runs out and then you don't pay it off and then the interest comes in and then it just takes forever so I probably had those three credit cards for uh five six years does 28 and loves instant gratification have any good money habits that she's especially proud of uh I I don't go out to eat a lot I don't buy coffee I don't drink coffee um I take my lunches to work I don't I really just don't buy food I'll do one big weekly shop and that'll be my food for the entire week for breakfast lunch and dinner if I go out for dinner it's very rare um so I I would say that's a good thing like I am social but in a way that I don't

have to spend too much money on like $30 dinners and things like that I'll eat at home or something that's probably my best money habit it's not like a great one but yeah what about her worst money habits this is probably going to be a lot of people's worst money habit but it was after pay that was my worst money habit I've just shut down my after pay account after the last week's episode of the week before because after pay was just like oh it's only I would see the first payment as the only payment and worry about the rest later and that's again like a credit card you worry about it later. Except with Afterpay, it actually comes out every fortnight or however many weeks. And again, it goes down to that instant gratification thing where I can have it now and I

don't have to worry about paying for it now. So what's today's money diarist actually saving for? What's her big money goal? I mean, everyone says, oh, I'm saving for a house. And that is so far off for me. I would say my big savings goal is to save for a house, but because I don't have anything close to eighty thousand dollars to my name um that is a probably a 10 15 year goal and that's sad like I'm 28 and I probably won't own a home till I'm almost 40 but eventually that's my goal I just don't put much pressure on myself for that because it's just I rent by myself you know I have if I could save that fifteen hundred dollars every month that'd be great but you know made the decision to move out instead so how would today's money diarist rate her own relationship

with money if we forced her to give herself a grade i would give myself probably a c only because i know that i'm good with budgeting but when it comes to having something that i want i don't really hold back i will find a way to get what i want i suppose but at the same time i always make sure my bills are paid even though my bills take up probably 85% of my wage I still try and find that extra little bit if I just didn't worry about that stuff I reckon I'd be all right I could be probably a B but I am sometimes just that little bit too silly with money. So what's your first impression on that? So the first thought I had was that she she just needs a total attitude overhaul like some of the things that she was saying and I feel like this is a really blunt one from me and

I'm usually quite celebratory of everybody you know celebrating their money stories whilst I am and she sounded like you know she had some really good goals and she had had a really good understanding of her values $18,000 a year in rent so $1,500 a month is too much for her given she's in $10,000 worth of credit card debt and has a $40,000 car loan the thing with money and saving and investing is sometimes it takes sacrifice and it doesn't sound like she's doing any of this and I think it's now time to change so this should be a little bit of a wake-up call to say hey maybe you should be having a listen to your friends or to your family maybe you should get a housemate maybe you should work out a way to be paying less in rent and more on your credit

cards I think something for me that really jumped out was she's had these credit cards for years yet she's still justifying holidays and spending $3,000 on flights and you know she said she put that holiday on a credit card but she still spent the $3,000 in her savings account so to me that didn't make a lot of sense and at the end of the day like I'll say it again saving money and being in a good financial position takes sacrifice and that sacrifice needs to be made by you you can't just sit around and wait and have a credit card that you've had for five years on balance transfer balance transfers whilst fantastic if you're going to smash that loan down and get rid of it with no interest fantastic once you get past that zero percent interest rate period the interest rate

is often higher than on a normal credit card because people know that you aren't going to meet those financial commitments so she's probably paying a lot more on those credit cards than what is necessary but then also if she's got ten thousand dollars in credit card debt she's had it for five years how many thousands of dollars has she spent on interest already so would you recommend her pay back the credit card debt that she has instead of she said she wanted to save up to like a thousand dollars first before she thought about paying that back and and if that's her goal and that's her value then fine but i wouldn't want any more than a thousand dollars in her savings account before paying back those credit cards in fact paying back her credit cards should be being

prioritized over saving like you don't need savings if you're paying back credit card debt okay okay so what i'm hearing from you victoria is re-evaluating her living situation is probably a top priority for her yes absolutely if you can't afford to do things don't and if you're affording to do things because they're being put on credit that is not affording to do things like save up for them earn the things that you want to spend money on and you know at the start of that episode she mentioned that she's just spending 20 here or there on a top that she never wears again don't buy the top put 20 on your credit card it is not worth being in debt for as long as she's been in debt because over time debt compounds in exactly the same way investment does and I get

really excited about the power of investment but it is terrifying the power of debt she can do it though I think she can turn it absolutely she can do it but she needs to do it herself for sure that's all we have time for today just before we head off as always let's quickly wrap the boring but important stuff the advice shared on she's on the money is general in nature and doesn't consider your individual circumstances she's on the money exists purely for educational purposes only and should not be relied upon to make an investment or financial decision and of course we promise victoria divine is an authorized representative of consultum financial advisors proprietary limited abn 65006 373 995 afsl 2303 23 check you out i know so join our facebook group

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