She's On The Money - Fears of a Crashing Share Market!

Episode Date: August 8, 2024

Join V, Jess, and Bec as they spill the tea on your money wins, reveal your real-life confessions, and share some savvy broke tips! This week's Money Dilemma tackles fears of a crashing share market. Plus, they give their hot takes on the question... What happens when your job and ethics clash?  Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements. 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 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 Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708,  AFSL - 451289.See omnystudio.com/listener for privacy information.

Hello, my name is Natasha Nabanunga-Bamblett. I'm a proud Yorta Yorta, Kernai, Wolperi and Awadjeri 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 Awadjeri 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. Let's get into it. 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, my friends, it's Friday, which means it's time to get little Bec and little Jess together. And we're going to celebrate you, our incredible She's On The Money community. Today, Miss Jessica Ricci is going to be sharing her favorite money wins from the community. Bec Syed has a few very good broke tips to share. We're going to be helping to answer a juicy money dilemma, which this week is all about fears of a crashing stock market. And we're going to unpack something that you slid into our DMs about, which this week we're talking about what to do when your job and your ethics clash. So, Bec, you've decided to work

remote this week. Where are you? What are you doing and why are you doing it? Well, great questions all around. I am celebrating, as you guys know, my birthday month, which means that I've come up to see... She's on tour. It's the birthday tour. It's the birthday tour, exactly. The national tour. Exactly, exactly. So I've come to see my family because they thought they could get out of cake, presents because I live in Melbourne now. They don't have to do it. Wrong. No, they do. Wrong. I'm here. I'm here. And you better be bringing some good stuff to the table. So anyway, everyone- What are we expecting here? What are the expectations? Is it homemade cake? Is it

a cheesecake shop cake? Do we just want a Coles cake? Do we just want the attention? What is it? So I'm honestly a man of simple pleasures. I don't ask for that much, but I do want an original Peter's ice cream cake. Oh, my God, my favorite. That's Jess's fave. The fluffy white icing or ice cream icing on top is so good. Oh, my goodness. I didn't know you liked that.

I should have got that for you. When you're back for birthday month, we should have one. Ice cream cake. Everyone can buy one and eat it with us live next Friday. Okay, I'm in, I'm in. I like that you're a man of simple pleasures. My dad is also a man of simple pleasures. Whenever it's his birthday, do you know what cake he asks for?

Is it a Woolies mud cake? No, it's better. It's a chocolate ripple cake. Oh, bless. Oh, cute. Every time. Like, he's just like the cream and the chocolate ripple biscuits. Like, don't put anything on it, though.

Like, it is a disgrace to him if you put like a peppermint slice or something on top. Absolutely not. He's a man of simple pleasure. Yeah, like chocolate ripple cake. I reckon that's almost cheaper than a Coles mud cake. I reckon it might be. I reckon a Coles mud cake's what, like five bucks now? I think they're six now.

No, absolutely not. Yeah, the ripple cake, definitely cheaper. Money win. There you go. It's actually a broke tip because it's extremely cheap. But yes, of course, inflation, inflation, inflation. That's true. The three I's.

I love this. So Dex on tour. Miss Jessica Ricci, you're here, but not on tour. Thank you for that. Logistical nightmare, if we're honest, if more than one of us has left the studio. So how's your week been? It's been good. I haven't done anything super exciting, I don't think, this week. Just sitting at home. I bought my first Halloween item this morning.

Wow. It started early. Jessica Ricci. It's August. Yeah, I know. But they're releasing all the cute stuff already. And so it's like one of those things you have to get it or it's not. You and I realized this week, actually, I am a marketer's dream. Oh, you are. Because all it takes is one person saying- have you only just realized this? Yeah, kind of. Oh, wow. Do you know what it was that tipped me over is I was watching TikToks. You were watching TikToks? This is so embarrassing. Would you like

to reframe it to, I was reading an article because that's what I do when I feel like I've exhausted my quota of, I saw her on TikToks that week. I was watching a TikTok and someone was, they were doing a sponsored post. Like it was a clearly disclosed as it should be sponsored post for like alkaline infused water and for a moment I was like I should buy that that'll make me healthy and it's like water is free from the tap I literally it's like they just sucked me in and like convinced me and I it was in that moment that I was like oh my god Jess like snap out of it Uh, I feel like that is, that is a lot, Jess. The water nearly got her. I mean, I used to be a victim of the Fiji water. Like back when I was in school, all the cool kids

had Fiji water and I desperately wanted that. It makes no sense. It's water. And then also, have you seen the new marketing? And I don't know if like, this is a bad thing to say on here, but there's a company promoting hydrogen water. Oh, maybe that's what it was. Hydrogen water. Yeah, but, like, it's called H2O because there's already two hydrogens per oxygen molecule in water. Like, how can you hydrogen the water more? And this is the thing is that the person... Me no comprehend also.

No. Why? What's the benefit? Like, I don't know, but, like, there's already hydrogen in water. Actually, I'm kind of curious. They're like, get some hydrogen in your water, Bec. Yeah. I don't get the hydrogen water.

If someone wants to slide into my DMs and educate me, I will happily correct myself on air next week. But till then, I am macho confuso. Yeah, and I have learned that I need to put 24 hours between me and my spending and maybe some time to out myself on air to realise how embarrassingly big of a sucker I can be. I love that. I love that.

So next week on She's On The Money, we'll be doing broke tips, money wins, and also health tips from Jess. Yes. so let's get the the she's on the money community wins out of jess though because those are definitely worth it unlike hydrogen water yeah so what have you got to bring to the table this week i've got some goodies this week firstly a simple one but one we should all be doing from christina got water for free out of the tap i thought no christina said she googled the brand she was buying from a discount code she found a 20 off code within about three seconds she said she

saved herself 15 bucks and you'd be crazy not to do it. I always do that. And I'm always giving free credit to influencers who have posted their discount codes online. Yeah. I have no issue with you getting a little kickback. You can get your kickback. I don't know who you are, Molly101, but I've just used your code, got a discount and we're all happy here. Yeah. Just trying all the generic basic names, plus 10, plus 20, sorry 10, black Friday 10. Yeah. I've tried Jess 10, just 25. Neither of those have worked. Welcome back is a good one. Welcome back is a great one. Yeah. So very good reminder for Christina. Next, I've got a money win from Rebecca who said money win. I entered my dog in a competition and she won overall and we got a heap of prizes that were

worth more than the entry fee. Okay, but like what competition? I don't know. She said dog sports are apparently a hobby. So I'm assuming maybe the dog was doing something athletic, but Rebecca did give us a picture of said dog. Can I see? With the prize haul. Look at all of his ribbons. Wait a minute. Oh, I can see. That's very cute. He's got like, not only has he got like a prize pack, he's like sitting in the middle of his prize pack. He's got an orange monkey toy and a blue toucan. He's got like a slow feeder mat and all of these like little doggy like ribbons. He's absolutely slaying. Well done, Rebecca. That's a good one. If you want to see the picture, check out the thread. And we've had a few people DM us on Instagram this week saying, where do I send my money wins? VD puts

a thread in a Facebook group every week. So if you're not in a Facebook group, go join. And also there's actually an unwritten rule in that money wins thread. And that is if you're going to mention your pet, you need to be paying pet tax, which is actually the tender is actually a photo of your pet that needs to accompany that post. Exactly. Yeah. So don't post about your pets unless you're actually going to show us your pets. Yes. Rebecca's paid a tax up for the year. Well done. Next, I've got a money win from Lauren who said, life win. I recently invested in the Kmart glass containers and they're really, really good. They keep everything super fresh and she now has five that she keeps on rotation and her produce is lasting a lot longer than it did when she was

using plastic containers. I feel like good research into how to get your produce to last longer is well worth it. Completely. And the Kmart ones are really affordable. I have a heap that I bought years ago from Ikea and they're still going strong, but the Kmart one's much cheaper. So So money win. Very big money win from Lauren. Next, I've got one from Julia who said she paid off her iPhone and she's going to keep it. So now she's paying $40 less per month for her phone bill. Money win. That's a lot of money that'll add up over time too. My question is though, what are you doing with that $40? Are you just letting it go into your account or are you investing it or are we saving it? Do something automated with it. Yeah, that's a good idea.

All right. Next, I've got a money win from Leah who entered a bake sale contest. There's a bit a theme this week. Lots of people entering things, which I love. And she paid $26 in ingredients. And to her great surprise, she won, got a $250 restaurant voucher, which more than covers her Can we have a shoes on the money bake sale? That would be very wholesome. I feel like we should. Bec, we'll organize it. You work at ARN. We'll do it on like a day that we come in to record the podcast. And we will sell our goods. Yeah. Go desk to desk. Yep.

We'll put our little stall out in front of the podcast studio and people can come buy our muffins. One, there'll be a competition to see who sold out first. And then two, we can donate the money to charity. It's giving lemonade stand and I'm here for it. It's giving adult lemonade stand. Very into it. Lastly this week, speaking of lemonade, I've got a money win from Ange

who said she arrived at Bunnings to buy some fruit trees yesterday and they were marking them down to half price. Why? Can I have one? I know. She bought apple, peach, nectarine, cherry, two plums, apricot and almond trees for only $25 to $30 a tree. Okay, but where are you putting all of these trees, Miss I Have Space?

Yeah, that's a lot of trees. That's a lot of trees. Also, almond tree? Yeah, what does that look like? I know that almonds come from somewhere. It just never occurred to me that it was a tree. No, same. I only just learned that cashews come with a very unnecessary pear-looking thing.

Have you guys seen a cashew tree? Yes. And also, Jessica's probably going to be mind-blown here. peanuts come from the ground they're dug up like potatoes really like in what oh they come in the nuts they come in those shells see i thought peanuts were on trees also another fun fact dates which when i was pregnant you saw me consume a lot of turns out they did nothing emergency cesarean one out of ten cannot recommend they grow on palm palm trees. Aren't they just like dried plums? No, that's a prune. That's so sweet. But palm trees

are where dates come from, Jess. Wow. I need to go do like an educational session in the Woolies produce section because I got no idea. Look, I'm here. I also recently learned on TikTok again. So this has become she's on TikTok, not she's on the money. You can eat unripe almonds and it's like a delicacy in a lot of cultures. And I really want to try them. So if anyone knows where I can purchase those, please slide into my DMs and let me know because apparently it's coming up to uncooked almond season. You should go to Bunnings and buy a half-priced almond tree. You should just go buy the tree. It's a very new season. Straight from the source. I love this. All right, Jess, were they all your money wins this week?

That's all I've got. I loved them. We've learned a lot. Every day is a school day, it turns out. Bec, what have you got when it comes to broke tips? Okay, so no entering competitions on my end, but I am really impressed. It kind of feels like we're living in like the olden days old timey days it's really cute really wholesome cottagecore my first broke tip comes from libby who says that she was walking around the qvb the other day and she had a bit of time to kill and often they have those little pop-up hair tool styling stalls so she killed 15 minutes got her hair curled and she knows that dyson does this too occasionally with their air wrap v i know you love an air wrap for no cost and no cost like that is wild so she walked

away feeling guilt free that's a money win not just a broke tip you've doubled down here bet totally it's an everything tip like that's really smart i mean i know i've said this before too but like if she paired that with a maya visit and just got a bunch of perfume samples oh she'd be looking good and smelling fresh that's it that's really all you need and it's free free free i love this we love that genius good one from you libby thank you libby the next one comes from two this one is about lemons, lemons, lemons, lemons. So there's so many things you can do with lemons. And I'm sure that a lot of these people have tried already, but I'm just going to read them out in case you haven't. So juice the lemon, freeze them in ice trays so you can use them at a later

date. Extremely healthy and full of vitamins. Amazing. Dry the lemon peels to make homemade pot puree. I don't actually know what that is. Pot puree. Pot puree. Pot puree. Pot puree. Potpourri. Yes. I like that we got there finally. We got there together. It's like the nice smelling stuff that you have in a bowl or something in your house. Yeah, my Nana has it in a bowl on her toilet.

Yeah, I mean, I've literally never seen it before. I've never felt a need for it, but I'm going to try it anyway. May as well. I love this. I love this. It's a zesty smell and keeps the bugs away. That's incredible. Put a few slices of lemon in your kettle and boil them to get rid of lime scale.

You can make homemade. Yeah, that's smart. That's a good one. Really, really good stuff. You can make homemade antiseptic spray with lemon juice vinegar, bicarb soda, a drop of eucalyptus oil, and clean your wooden chopping boards. Yeah, I think that's not everything you can do with lemon, but those are a few things you can do with lemon.

You can do so much with lemon. And use the whole lemon as well. Totally. Use the zest. Use the peel. Like, ah, it's so good. Totally, totally. So my broke tip.

Oh, you've got one as well. I've got one as well. Where does it come from this week, Bec? Genuinely myself. But I don't know if you guys are going to love this one. I don't know how useful it's going to be for you, but it will be useful for other people. I know that for sure. Okay, we're ready.

We're ready. Obviously, I had a house party on the weekend that passed, and I always get really stressed about parties because I'm like- Yeah, house party. It's not in my vocabulary. That's not happening at my house. Jess, you can come to my house, then someone else can come over. Like, we're not overcapitalizing on people in my property.

A house party is not an option. Yeah, that seems fair. Fair. Dinner party, I'm up for that. Yeah. Three's a party. Maybe. I'd have to have that many friends.

They all tend to cost a lot of money, basically, is the point of this. They do. And I was really worried. I always get really stressed around party time because I'm like, everything you do, you don't even think of things. Like, snacks. You've got to buy chairs. You've got to buy fairy lights. It's like before you know it.

No, they can stand. Yeah, well, that's it. But also like, you know, music, everything. Everything's so expensive. Anyway, so my tip is go into your local, this is probably more of a Melbourne thing. I don't know that Sydney has this. And when I lived here before, it didn't feel very communal. I don't think there's a Sydney version, but there might be.

I could be wrong. There might be. And if there is, slide into our DMs and Bec can share it with you. Yes, please. But in Melbourne, we have Good Karma Networks. And so I'm, even though I don't live there anymore, I'm still part of the Brunswick Good Karma Network. And then there's Fitzroy everywhere. And you can just jump on there. I jumped on and it was like literally an hour before my party started. And I was like, does anyone have milk

crates? I just need milk crates because I need people to sit down because I only had four seats in the whole house. And so someone was like, I have a bunch of milk crates. I don't need them back. Just take them. Money win. Before I knew it, everyone had a seat. Everyone had a little place to rest their hat. And I didn't spend a single cent. So just jump into your local Good Carmen at work or whatever your equivalent is and ask for fairy lights that you can just borrow them, ask to borrow them, seats, ice buckets, ice, firewood, anything, anything, anything. I love that.

Bec, I do have to ask, what are you doing with the milk crates now? They will forever sit in a very inconvenient spot and they will forever be a nuisance. But honestly, next house party we have and someone else will probably post a similar thing in the future. and I'll be like, hey. I was going to say, surely you pass them along. Exactly. I've got some milk crates for you.

I also have another question, if I may, Bec. Of course. How did you transport the milk crates? Oh, just in my car. Easy. Easy. How many milk crates fit in a car? Wait, I want to guess.

I want to guess. I want to guess in game. It's a game. Jess, how many milk crates fit in a car? I'm going to go 15. How many milk crates did you get in total? So I actually didn't get that many this time around, but I have in the past filled my car, so I do know the number.

Oh, she knows the number. Are you going to guess? Oh, 20. How many fit in the car, Bec? From memory, it was like 18. And I have a small car. We're in the middle. Good for us.

I have a very small car. You guys have seen my car. I was envisioning my Kia Rio and trying to picture how many I could stack. Yes. It's probably similar size. I love this. So good karma networks. That is actually a really good thing.

Bec, I know that you said it was for house parties, but even if you're like furnishing a house, like check out those platforms because you could get a money win. Exactly. Exactly. So I hope you've enjoyed that one. I have enjoyed that one. All right.

We're going to go to a really quick break. On the flip side, we're going to be talking about what to do if you're fearful of a crashing stock market, and then we're also going to be talking about what to do when your job and your ethics clash. So don't go anywhere, guys. Welcome back, everybody. let's take a listen to this week's money dilemma. Hi there. Have you got a money dilemma you just

can't solve? The 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 short voice recording and you might just find yourself on the show. Now let's take a listen to this week's money dilemma. hi i'm a late 20s gal and i've been interested in investing to try and boost some of my you know future incomes but whenever you think of investing you think of things like stock markets and the massive risk of crashing and losing millions of dollars rather than safe investments and wasn't sure where to begin have listened to the podcast for a long time tried to do some

my own research. I find I keep getting stuck on this idea of investment equals either property or stock market, which is a dangerous game and wasn't silver to begin with. Thanks for the advice. Very timely because, Bec, what did we just record? We, we, I want to like- She can't remember. No, no, I want to keep the magic alive and be like, we recorded this in two different days, but we did just record an episode about analysis paralysis. and how you get overwhelmed once you start doing too much research and understanding it. But I feel

like this is a good time to remind you that it totally feels like risk because you are taking risk, but it's a relatively calculated risk. And what you have on your side is time. And the important thing when it comes to the share market is actually how much time you spend inside the share market, right? And we know two things to be true when it comes to the share market. I'm probably going to list off more than two things, so just don't hold me to account in my own words. So the first is that if you take any 30-year period in time over the history of the Australian stock exchange and to have a look at that 30-year period, not one person has lost money if they stayed invested.

So we know that if you stay invested for the long-term investors, like long-term investors always come out as winners. We also know to be true that the share market over your entire lifetime or the average Australian lifetime is going to have seven market dips. So seven times you are going to log into your profile and see that the market has crashed. So the biggest one that we saw in I guess more recent times was the global financial crisis which happened in 2008 and obviously if I showed you a graph we have more than recovered from that but what happens during a time of dip is people freak out right and we're seeing that literally this week because the market is off and there has been

an absolute dip in the market and people go, oh my gosh, my investments are worth less money. Should I be selling Jess? And the answer is often no, because we need to ride that out. We don't want to crystallize our loss, which means we sell at a price that is much less than what we paid for it because we're scared. And what happens over time if you are a consistent investor is you would stay invested and your money would recover if not double. And we know because of the rule of 72, which I probably should do an entire podcast on because I feel like I've said on the podcast so many times, like, oh, because of the rule of 72, people are like, yeah, KB, what's that? We probably should deep dive into that. But essentially, the crux of that rule is

that money will double every seven to 10 years. And so we know that over the long term, if you're investing in the Australian share market, guys, your money should double over that period of time. but what we need to have on our side is time. We also know that the media sensationalizes loss. Jess, would you like to read an article on, you know, my share portfolio? Probably not, because it's boring. It was up last year and that was great, but there's nothing to write home about because my plans for that portfolio are that over the next 30 years makes me rich AF. That's the plan. I don't want it to be sexy. I don't want it to be notable. But you know what's notable? When somebody invests all their money and then loses it. Yeah, they want like the clickbait

story. We literally had my friend Tracy Hall on the podcast the other day to talk about how she lost $317,000 to a scam artist because that is great content that we can learn from. People are genuinely more interested in engaging in content that ignites our emotion than we are in engaging in content that's like oh so you're doing well that's nice yeah like no one cares so I think when we're looking at it and going back to our listener question you're worried about it because you would hear stories because the media perpetuates those stories but if we look at the reality of the situation if you have time on your side investing is a no-brainer and dips are often an opportunity to get ahead like the dip you mentioned this week I literally this morning

chucked extra money in my did you I'm so proud of you my normal ETF is like a little bit off like 60 cents down from where it was last time I bought it so you're telling me that you invested during a dip and you were like oh this is an opportunity for me exactly like which is not always the case not financial advice obviously but like if that's something you're worried about an opportunity that you have identified for yourself and we don't know what you're investing in or how that works It's actually none of our business, but I think it's important to understand that mindset is really important. And Jess, you've been investing for a number of years now, which is really cool. And I know that the first year we were kind of like laughing. We weren't laughing at your

dividends. We were laughing about dividends because we're like, ha ha ha, I made 50 cents. I am going to be rich. But are you starting to see the fruits of your labor? A little bit. I think more than anything, it's just nice to see it like growing overall. Like even with the dip, my portfolio is still up about, I think, 7% or something, which is awesome. And I'm not doing anything fancy. I'm investing primarily in one index fund. You must have had a really good financial advisor. Yeah, imagine that. Wow. So sad she's retired now. Oh, I'm so sorry. That's a good question. I feel like,

at the end of the day, analysis paralysis comes into this. And then also on that episode, Bec, you and I, Bec, were talking about the worst thing that's never happened to you And how we often all jump to the worst possible conclusion. And it's important. Like we want to weigh up our risk. We want to talk about what could possibly happen. But maybe ask yourself the question of like, well, Jess, what's the worst thing that's never happened to you?

And like what you've made up in your mind is often worse than the reality of the situation. And keep an eye out for that episode. Yeah, so soon. Good shout. All right. Let's get into some spicier content because this week we got a DM from you guys. and it's all about what to do when your job and your ethics are clashing. All right, are you ready?

Ready. Hi, she's on the money. I'm having a big moral to lever. I have a job that I absolutely love. It pays really well, the team is amazing, and I genuinely enjoy the work that I do. However, recently the company has been in the news for engaging in behaviours that totally clash with my values.

It's reached a point where some people I respect have refused to work with us because of it. Now I'm feeling super conflicted. I don't want to be a part of something that doesn't align with my principles, but I also don't want to give up a job that's been so amazing. And if I go elsewhere, I'm probably going to have to take a pay cut. I'm really struggling with this. What would you do?

Ooh, I want the tea. I'm very disappointed you didn't DM me the company you work for, what the manager's name is, and the tea. Like what was the client that wouldn't work with you? Like we need to know. I reckon we could Google it. I think we could probably Google it with a few keywords. Yeah, 100%.

But we're not going to do that. We're not going to do that. No, we're not going to do that. But I just feel like big companies, not all, like I don't want to say all, hashtag not all companies, but I feel like if we did try and Google it, we'd just be flooded with news because- There'd probably be heaps of options. Yeah, exactly.

Which makes you think like a lot of companies are like this and like, you know, I don't want to obviously point fingers or name names, but I've definitely worked in some companies that I feel like my values don't fully align with their overall kind of like, I don't know what they've been doing behind the scenes. Some companies are a little bit corrupt, of course, like some management styles are really, really awful and some people in higher places aren't the best people sometimes. And I did read a book about psychopaths in kind of like, I'm really jumping here, but psychopaths in like higher positions. John Ronson, psychopath test, really good book. You kind of just know that sometimes people who are a little

bit morally corrupt can climb their way to the top just by stepping on other people. So it's not unheard of that companies kind of can get themselves into like a bit of hot water just basically because sometimes the right people aren't really running or driving the ship, if that makes sense so it's probably going to be hard to find a company that is completely unscathed and completely morally sound in its entirety but that's not to say like if there's something that's it's really hard to do without all the juice it's really hard to say but yeah I need the juice yeah I guess like going off what we have here if it's something that's so bad that you don't think if you could kind of boil the whole company down

into one person, if you're like, oh, that's so bad that I would cut this person out of my life, then maybe look elsewhere. But if it's like, I don't know, I don't know, this is probably really bad advice because it might have been really bad what they're talking about. We don't know. We don't know. What do you reckon, Jess?

I agree. I think the context, you know, it's one thing is the company being done for like poor business practice or, you know, things that, it sounds bad, but I think it's going to vary person to person, but there are certain moral or ethical things that may sit better or worse with you as an individual. So like, for example, if they've missed paying everyone super, like, do I like morally disagree with that? Obviously they're going to have to pay it back versus are they, you know, part of some ring of corruption that's doing really horrible humanitarian things. That's where my brain's going, right? Because I think that there are

ethical dilemmas that you can easily avoid. Like, Jess, would you like to work for an oil company? Yeah, exactly. And you go, no, I don't because I don't want to work for that company. But then on the flip side, this sounds like it's something that she didn't know about that has come about and is now in the media. Yes, I agree completely. So, you know, there's that to take into account, I guess, the severity of it and where on your personal scale of morals that problem sits. I think like the big thing of note for me here is that you said you love your job, it pays you well, you work with great people.

that is very very hard to find in a job and i still hasn't found it beck still searching just kidding almost all those boxes are ticked but certainly not the people that you work with so if you were to go to another company there's a very high chance that okay you would maybe be more morally aligned with all of their choices or all of their choices to your knowledge but maybe the pay shit or maybe the people are awful like it's very hard to tick as you're saying back like all of those boxes. And I guess it's about weighing up what's important to you. If there's a big ethical issue, I would also argue, especially if it's in the media, change should be about to happen. You know, again, depending on what the problem is,

if it's the kind of thing that clients are refusing to work with you, that means that there's like a systemic issue within this company that needs to be addressed and for the company to continue forward and to continue to succeed theoretically that needs to be resolved so hopefully change is on the horizon and hopefully it's it's just good PR for that company to go hey Jess we don't want to work with you right now like we just don't want to be dragged into this media storm we don't want to work with you and it's not actually personal I think you're you're hitting the nail on the head for me it's actually about what are they planning on doing and how's that effectively being communicated because we know that when something hits the media we work

in media we know that by the time it hits the media it's such a small part of what's happening so it might be like this big expose and you get all this information but like did you know about it before what was being hidden like what are the outcomes what kind of interventions are happening in your workplace right now to deal with that like if there's a media shit storm and then on the flip side they're not saying anything internally at all that would make me feel so uncomfortable completely like address it hit the nail on the head like where are we going what are we doing is it clients not working with you because they don't want to be involved in what's going on currently like what's the outcome going to be because I'm assuming it's not like a I use the

oil company as an example I think because I'm an ex-financial advisor and that was often something the clients didn't like but if it's an oil company like you might not want to work at BHP Jess yeah But also, you might have chosen to work at BHP because they actually have a really good grad program. They've got really good leadership development tools. Like, you kind of are using that as part of your pathway to get into the career that you want to get into. So, it's completely up to you how you deal with this.

I would really struggle with it. And I know that, you know, the rest of my team would too. I think we're so ethically minded. Like, we are very black and white. Like, there's not a lot of grey in what's right and wrong in our team. And I don't think that that's a bad thing. I think there's lots of room for grey in every other area. But like when it comes to not doing the right thing by your employees, I think all of us

like, nope, that's not on. Like there's no like, oh, it's okay if they just didn't notice. And I'm like, no, that's actually unacceptable. Like, yeah, I can't get past that. I think you need to have a think about, well, what's the outcome going to be 12 months from now? And you're right, Jess, like if you adore your job, it's also not your responsibility. so like if you weren't playing into this then I think that that could be a conversation to have

with your manager and going well I'm actually at an ethical like crossroads what's going on here like I don't really want to support this I can always guarantee everyone else internally doesn't want to either. Can you be a part of the change too again depending on what it is like is it something that you know if you say you really care about this job and the work that you're doing like is it something that you're okay great like I want to see a change I'll be the change like how do we as a team within this company facilitate a shift towards something that is more morally. For the greater good.

Exactly right. I like it. Well, it turns out this is actually more common than we thought it would be. Really? Forty-one percent of the She's On The Money community have had an ethical concern about their workplace. Wow.

Forty-one is a lot. That is a lot. For some reason I thought it would be more, but, I mean, forty-one is still a lot. Well, here you go. It is actually more because 19% of people said, yeah, kind of, but it was actually only a small thing. I see.

Oh, okay. So like 60, 70. Did you say 60? Yeah, there you go. 70%. Wow. That's so high. 60. The math ain't math in my head. And then we asked our community as well, would you work for a high paying job if the company's values clashed with yours? Would you do it, Jess? See, this is such a- What's your number? This is the thing. If someone said to me, we'll pay you a million dollars a year, I would 100%. I guess I work for BHP now. And I would totally just be like, great, fight the man from the inside. I'd be paid really well to do it. You'd be like, this isn't on me.

I feel like there's a point. When your friends ask, you'd be like, babe, it's not that deep. First of all, it's really risky that we're talking about this. I want, if in case any of our bosses, V, I don't think you have a boss, do you? No, I'm the boss. She is the boss. You're the boss. So block your ears.

I'm going to break it to you now too. I'm also your boss. You are also my boss. So I just want you to know, block your ears because me and Jess have a lot of things to say about this. But no, just kidding. I want any of my bosses and Jess's bosses to just know it's not them. But yes, I'm the same. I think I would still work for a kind of like a corrupt or like a company that doesn't really morally align with me, which I know is crazy.

You heard it here first. Ms. Bex Syed will work for a corrupt company if you pay her well. And again, it's on the scale. It's not like if we're exploiting children or like funding, you know what I mean? Like, no, no, no, no, not here for that. But like if, I don't know. Money makes the world go round. There's a little grey area.

I know we just said there's no grey, but. Well, we asked our community and 48% of you said, no, my values are too important. That's really good. Okay, I feel really bad now. And 52% of you said, yeah, the money matters. It does. Yeah. Like at the end of the day, money is life changing. And I mean, we can argue back and forth about how, you know, money doesn't buy happiness. It doesn't, but you know what? It makes me pretty

comfortable. It buys you some peace of mind. It buys you peace of mind. It buys you early retirement. It buys you so much stuff. It buys the food on your table. Like it's just, I think perspective comes in here a lot. Like I was reflecting over the weekend. I've been doing a lot of like gratitude practices. And I was reflecting over how grateful I, this is probably me getting a little bit mushy. So apologies, we'll get back onto corrupt track in a second. But my husband and I went out for breakfast with my baby on the weekend and we were sitting there and I was having eggs and a coffee and my husband's just playing on his phone. And I was getting a little bit annoyed because like he wasn't giving me the attention that I thought I deserved in that

moment. Right. And I was like, get off your phone. You're always on your phone. And he was like, bit rich, but okay. And then we get home and I'm thinking, wow, I just take it so for granted that I am able to go out for breakfast. I'm able to purchase a breakfast meal at a restaurant. There are people where that's their one fancy thing that they do in the year. Like I need to pull my head in. And I think it's all about perspective because some people who say, oh my gosh, I would never work for a corrupt company. It's like, do you know what? There are a lot of people who would you can't judge people for the decisions that they're making because you don't know where they're coming from totally and that's what I was going to say before

is that like some people literally just don't have a choice like we just don't have the option we just have to do it and that's where that's kind of where I'm sitting I'm not saying that I would actively do it but I some people just don't have a choice yeah but I think that's it like and I mean Jess and I are joking about haha we'd get a million dollars a year like you I can be bought we can all joke about that but at the end of the day there are going to be a lot of people in our community who are like, V, I hate my job, but I live in a small town. It's the only job I could get. I don't want to do it. I don't like my boss. I think he is the worst person in the entire universe and I need the paycheck. Respect, because that could be hard. We did ask

the community, as always, we said, what's your two cents? What do you reckon? A lot of you said, and I liked this, your job is separate from you. Go earn the money and live your life. Someone else said, I'm actually a criminal defense lawyer. It's hard. Perfect example. But go, it's just work and I know right from wrong at the end of the day. That would be so hard being a criminal defence lawyer. I don't think I could do that. I know.

But that's a line for me that I, like that's something that I would find challenging. But I go, if that is working for somebody else, like go queen. Someone's going to do it. I've got mad respect for people like that. Imagine walking into a courtroom and being like, so I'm here to actually defend this murderer. I know he said that he did it, but we're just going to try and get him as light a sentence as possible.

Great. I don't think I could do it. I don't think I could do it. That's probably too much because then you have to like, oh, it's a whole thing. Anyway, I'm not going to get started, but I don't think I could do that. Yeah, exactly. If possible, being part of the solution, you can fix the problem from within. Jess, I didn't realize you replied.

Someone said, in this economy, sit down. Totally. Totally. Totally valid. Someone else said, please tell us more. We need to know about the company. I know, but this is not our place, sadly. It's a safe and anonymous space.

Which I think is really nice. And then someone said, if they made a statement about what they're intending to do and change their ways, I'd stay as long as they were making good on that. Yeah. I think that's important. Someone else said, and I think that the, in this climate, like Jess and I went through a phase last year. In this economy? Yeah, we kept saying in this economy, but someone said in this climate, it's so hard to be able to stick to your values. Pay cuts right now are really tricky. So moving jobs might not be the

best decision for you. Someone else said, look for a job that aligns with your values, but don't leave immediately with nothing to go to. And then someone else, I'm going to leave it here because I could go on and on. Someone else said, I resigned on day one of a job once after finding out how badly the owners of the company were neglecting the WHS, which is basically the health and safety standards. I see. I've got a good story. Jess, please, please, please. I don't think it's for of air though this is a off-air call okay we'll take this up off air because unfortunately we have run out of podcast time it has been a pleasure as always I feel like that's a nice place to leave it as well Beck enjoy the rest of Sydney and birthday week I can guarantee that we will have a Peter's

ice cream cake for you next week because won't be me bringing it Jess will be bringing it to the table because I know she doesn't want to miss out on it and for everybody else have a great weekend there's a special little episode it's a bonus coming out tomorrow for you and we'll also see you bright and early on monday for a money diary so see you soon guys bye guys 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 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 Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN 321 649 27708 AFSL 451 289. Thanks for watching!