She's On The Money - FRIDAY DRINKS: Afterpay is in HOW much debt?!

Episode Date: April 21, 2022

Celebrating Friday with another wrap of this week's episodes; from the Money Diary of a Diesel Mechanic, to budgeting for charitable and philanthropic giving. Plus YOUR money wins and a listener question about investing when not an Australian citizen. And the ladies dive into a juicy chat about Afterpay's latest financial report that reveals the company are in massive debt!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. Victoria Devine is an Authorised Representative of Infocus Securities Australia Proprietary Limited ABN 47 097 797 049 AFSL - AFSL 236523.See omnystudio.com/listener for privacy information.

Just before we get started, we'd like to acknowledge and pay respect to Australia's Aboriginal and Torres Strait 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 our 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, arguably our favorite

episode of the week, where we get to celebrate the money wins from the She's on the Money community. There are always so many great money wins and confessions that are shared in our Facebook group each and every single week and we've told you a million times before and I'll continue to tell you how much we talk about you in the office when you're not around. So given we do all of that we only feel it is right to share that information with you and recap the week and have a chat about some finance topics and I cannot wait to get here because this week Jess you have some juicy after pay information so definitely stick on around for the end of the episode to get to that. But before we get there, Jessica Ricci, Monday, Saucy Monday is our Money Diary

episode. What happened? It sure is. We chatted to a lovely person who works as a diesel mechanic, which is obviously a super male-dominated industry. And she talked us through her experience like that. She makes great money because it's obviously a skilled job, but that does mean that she has to compete with certain other things and that's why it's so high paid. So with no degree, she went out, she got herself this incredible job that plays incredibly well and is working towards her financial goals, which is awesome, but also really cool to hear from someone who does something a little bit different. I felt like she was just so cool.

And every time we brought up a new question, she'd just be like, yeah, repping it. I'm a diesel mechanic. And I'd be like, you're a sicko. I love you. Impressed. I was, G. A sicko. Yeah, she's a sicko.

I feel like that's definitely not the right word in that context. All right, cool. So I'm just outing myself as the not cool sibling growing up. G King. Hello. You were friends with my very cool sibling growing up. I was. She's a cool lady. She's much cooler than me. Don't sell yourself short. Thank you. Thank you. What happened on our Wednesday Deep Dive? So this week on the show, we spoke about budgeting for charity and philanthropy. It's something that comes up in the Facebook group time and time again, and we haven't really touched on it. For some people, I guess it might be perceived as like

a bit of a luxury. If you've got a bit of extra cash, you can put it towards something that means a lot to you and obviously as well like this year there's been so much tragedy all around the world we've had the floods we've had everything going on in Ukraine so it's interesting to hear the ways that we can help and then the implications of that from like a tax perspective and so on and so forth it was a really helpful episode oh I'm glad you liked it I felt like it could have been a bit of a dry one because finance can sometimes be dry but the big takeaway I felt I wanted everybody to get out of that episode if you didn't get it I'm telling you now is that it is a privilege to be able to, you know, donate to charity and give money away. And I don't want

anyone in a financial position where they're like, oh, I now feel so much pressure to give money away when I don't even have enough to put food on the table. Like, no, you do you. You put your own oxygen mask on first. And if you have the ability to help others, you have the ability to help others. But it's not expected of you at all. And I think that what goes around comes around. And if you're not able to at this point in your life, that is totally okay. And you can do it at another point that might make more sense to you. And I also don't want people to forget that it's not always just financial. Jess, you do a lot of volunteer work where it's not financial. Like, I remember I called you the other day and I was like, what are you up to? And you were like,

just volunteering down at Flood Relief, collecting items. And I was like, Oh, angels. She actually is an angel. Stop it, you guys. But I was like, how did you even get into that? Like, I didn't know you were going to do that today, you were like, oh, I drove down because I was going to donate something and they needed a hand. So I stuck around. And I just think that that is really beautiful. One, because Jess is a legend, but we already knew that. But two, it's really not always about money. It can just be

about sometimes we need hands on deck. Sometimes we need to volunteer and those opportunities exist. So if you've got time, please try and sort them out because there are lots of them, especially at the moment. Donating time is just as good as donating money if you can't donate money but it's also really interesting to think about the tax implications because I think like as you guys discussed on the show like there are certain financial benefits for certain charities or certain donations you know very specific to what you're doing or whatever but I feel like it's very much a rich person thing to be like I am donating money for this particular like tax break right like the everyday person probably doesn't know about that. No and it totally doesn't benefit you

if you're under $180,000-ish in earnings, which most of us are, let's be honest. So it's not actually something that is known to us. But I think it's important to know that even if you make a donation of more than $2, if you have the receipt, you can claim it on tax. So that's really nice. And obviously, if you're doing good bookkeeping, you'll be collecting that anyway and making sure that you give that to your accountant at tax time or putting it into your tax return when you do it yourself online. So I think it's important to keep track of it because you can claim it. But yes, we can't all just go make massive donations to museums to write it off on tax, unfortunately. We'll get there. We'll get there, G King. G King wants to buy a yacht. So

we're going to get there, aren't we, G? Exactly. Please donate to my charity, G King Yacht Foundation. The Georgia King Foundation. All right. That sounds very Anna Delvey. Let's move on. That was my inspiration. Should we talk about money wins? We absolutely should. I love money wins. What are you putting on the table this week? Girlies, our first one comes from Tashina. I feel like you guys are going to love this, so make sure you're listening. I am listening. I'm listening.

Tashina, I've been eyeing off a new vacuum cleaner for ages. Oh, this is right up my alley. And I finally decided to buy it. Here's the breakdown. The cost originally was $399. I had a code for eBay. That took off $32. Nice.

And I cashed in my shop back dollars for an eBay card. That took off $325. Total spend, $42. Plus, I've now got $9 in cash back from buying eBay cards. Money win. How good's that? We met her at the Sydney event. Did we?

Yeah, we did. And she literally said, I love Shop Back. Like, I'm such a shit on the money person. Like, I listen to everything. I do all of these things. I have these tricks and hacks. And there you go. She clearly was not lying to us.

Hang on. She is putting down what she is picking up. I love her. How good is that? I'm glad you made us listen as though we never listen to the money wins. I know. I don't know why I said that. All right, the next one comes from Tyler.

I went to the car wash yesterday, and when I got out to wash my car, the car in front had left a $10 on the machine. Oh, money win. A free car wash. That's nice. We love a clean vehicle. Next win comes from Rachel. Oh, you love a clean vehicle?

I'm actually laughing because it could have been a, like, pay it forward kind of. That's why I was, like, ran it back to a guy. And they've left it thinking that you'd leave $10 to the next person. Nah. Catch up. The next win, guys, comes from Rachel. I finally got COVID and pretty sure it's a money win because I'm saving $10 a day on my coffee habit by not being at work.

That's a good way to look at it. Yes, exactly. I hope you're feeling better soon. Exactly right. We will win there. I spent so much on cough lollies and cough drops in Panadol. I don't know if it makes up for it. I did spend a lot on cotties.

The next win comes from Trista. I flew to Perth and back for Easter for $20 each way due to some cheap flights I nabbed a while ago. What? She must have got them, like, deep in 2020 or something when it was just never going to happen again. I feel like I really should have made use of that period more than I did. $20?

$20. You can't even drive somewhere for $20 anymore. I wouldn't even care where I was going. I'd be like, put me on a plane. I don't care. Send me anywhere for $20. Make a surprise. Do you really not care?

Oh, here we go. Where would you send me? I'm not telling. I think I just, can you imagine putting Jess on a surprise flight? See you later. Have fun. $20. Thanks for coming.

Where would be funny to go? I don't know, but I can't imagine being able to get someone on a flight without them knowing by virtue where they're going without making them look like a hostage. Literally, you'd have to like blindfold her and put ear pods or something on her so she couldn't. Couldn't hear the announcement. Yeah, true. And it'd look like I was kidnapping her or trafficking her or something.

It would be questionable. It's stressful. to know from me. What's the next money win? The next one is a money win slash loss. It comes from Libby. My emergency fund is coming to use as someone hit the back of my car and didn't leave their contact details. So I'm going to have to pay for repairs slash excess to get it fixed. I'm very grateful that I don't have to stress about where the money is going to come from. Little clap emoji. How good is that? It's really good, but also it's a bit of a dodgy move from the other driver. Don't be a dick. Don't be a dick. Leave a note.

to go to the right person. Because what goes around comes around. Bad karma. Karma's going to get that person. Bad, bad karma. The next one comes from Anna. It was Easter long weekend and lots of people were ordering fish on Friday. I do Uber and DoorDash and made $600 just on Friday alone.

Genius. Yep. Do you know a fish and chip shop down on the peninsula where I'm from? Closed all Easter. What? That's such a missed opportunity from my understanding. I'd be super interested to know how much people can make on Uber. doing that kind of stuff.

Yeah, that surprised me. I didn't know that was a thing. She must have done it per order. Perhaps. I don't know how it works either. Let's do the math. And send us a message, yeah. We want to know more about your pervy financial situation.

Jess, you know what we need to get? We need to get somebody who's done Uber and get them to do a money diary. I reckon that would be- That would be interesting. That would be pervy. Like, I don't just want to know, oh, how much do you earn in general? Like, how much per trip? Like, obviously, the longer you stay out, the more money you make.

But, like, is it more? Is it worth it? Do you get surges if you do Uber Eats? I don't know. There's a lot of questions I have that are currently unanswered. We'll find a person. Let's move on though, G. It's our final win for the day, guys.

It comes from Reem. Money win. I've been waiting for my turn to be able to post this. I paid $50,000 of debt off in 14 months last week. We had the bank backflip on our pre-approval for our home loan after our offer was accepted, so I had to get a loan on my own and borrow $50,000 from my parents. It took lots of hard work and sacrifice to be able to pay them back so quickly. Now we are so used to saving that we will have our house paid off in six years.

What? How good is that? That is epic. I love that she'd been waiting to post it. She was like, oh, my God, it's my time to shine. And we get so excited seeing posts like that. So keep them coming. But, George, Jess, do you know how much that is per month?

This woman was saving $3,500 per month to give that 50 grand back. Good lord. What? That's epic. Imagine streamers, congratulations. I'm so excited. I'm so excited about that. That is epic.

Huge. That's it for the week, ladies. Well, let's go to a quick break and then when we come back, we are talking once again about Afterpay. All righty, guys. I have an article for you that I know we're going to have some fun with. Are we though? What are we talking about?

We're going to have fun. I don't know if anybody else will. I'll have fun. We're talking about Afterpay. You guys know. We're their biggest fans. Oh, cough, cough, cough. No, but it's a really interesting article came out last week

because they did drop a financial report recently and it said that they have been operating at a massive loss. I'm just shook that a company that is so in debt is still just like plodding along, getting it done, getting more of you in debt. It's wild. So they reported that in the first half of FY 2022, so June to December. Last year. Last year, correct. They had $176 million of bad debt. Bad debt. Not just debt for like, you know, growing the business or whatever. Debt, debt. Debt, debt. And that was up the year previous. They only had 72 million. So they were up over a hundred million dollars in bad debt in 12 months, which. Oh, easy to do, Jess. Well, it's real easy to do.

Oh, yeah. We've all been there. Yeah, we've all been there. Everyone in the community is like, I'm in debt. You're not in debt that bad. If that makes you feel better, you're not in afterpay levels of debt. It's how much your yacht would cost, gee. How many could after pay a yacht? Surely not. No, you wouldn't be able to do that. Yeah. So, it's pretty crazy when you look at the numbers. Their late fee revenue increased exponentially once again. This got me. I was shook. For a company that tells us, no, no, no, we're not putting people in a worse off position. We're making sure that they're doing the right

thing. If we do credit checks though, that would be compromising their privacy. Don't really want to do that. Jess, what is it this year? So, this year it was for that same time period, $78.5 million, which is, if my math is right, over double the year previous, which was $36.1. Quick math. Great for me. Good work, Beb. So many millions of dollars. And again, that is just from late fees that they have charged people. That's disgusting. For a company that makes me so angry. Can you imagine how much money that is just in a room and how many people could be out of debt if we had that money? It just, it makes me really annoyed because their big thing that they push in all of their

marketing, they're like, spend, spend, spend, get what you want, worry about paying it off later. And then they try and flip the narrative in their advertising and say, we're here for you to help you cashflow yourself, to help you make sure that you can break things down and keep them manageable. But if you're making back almost $80 million in late fees, I would argue that you're probably not making things manageable for people. In fact, you're doing quite the opposite.

Because you can sign up to Afterpay and only have the amount of money in your account for the first installment. You don't have to have that full amount because it's not taken out on that day. And even if you did have that full amount in your account on that day, there's nothing to say that you wouldn't go and spend it in another transaction five minutes after signing up to Afterpay, meaning you can no longer afford it, which is insane. So there's still no credit checks at all happening? No, they keep saying things like, oh, maybe in the future we'll do soft credit checks.

which I don't think is enough because for every other credit product in Australia and every other debt product in Australia, you have to do a credit check. And that credit check, as much as people always like, oh, my credit score, it's bad, or I don't want them impacting my credit score by checking, it's putting you in the best possible position by having it checked because they might check it and be like, gee, you can't afford it because you just bought a yacht. It's not going to work. You don't have the cash flow or the proven record of paying your yacht back. So we aren't going to give you access to more debt. Or we can see that you already have three or four credit cards. This isn't in your best interest. Like it is for the greater good that credit

checks are done. On the flip side of that, though, credit checks are also done to protect the borrower, to protect afterpay. If they did that, they'd say, oh, she has a yacht, probably shouldn't be lending to that person. And they look at Jess, who's been saving for a first home very diligently. I might add, and doing everything right and has really great cash flow. And that would be reflected on her credit report, meaning she's a better contender to lend to. So at the moment, they're just like spraying it out everywhere and not really minding who goes where or what. And the people like George who have yachts are the ones that are paying late fees because they're not good at managing their money and they're not good at the cash flow side of things. But then this

company is showcasing people like Jess and they're like, oh my gosh, it's just a tool that she uses to be in charge of her cash. It's like, no, people are turning to this because they can't afford things, not because they want good cash flow. Because if you want good cash flow, I can give you a system that's like Afterpay with your own bank account. So in terms of this debt that is making news, it's clearly massive, it's substantial, but who is it substantial for? Is it for the investors who are looking at Afterpay as a good option, or is it for Afterpay users? Por que no los dos? Okay, talk me through that. Why?

So the debt that they carry is obviously their own debt from spending money on growing their company, but also the debt that individuals have with Afterpay. Because at the end of the day, the brunt, it stops with them, and they're the ones that are in debt technically. So when you use Afterpay, you're going, all right, well, I'll put this $100 item on Afterpay, and that's a debt that you owe to Afterpay. So, therefore, on the balance sheet of Afterpay, it sits in their liabilities column and it would say, Georgia King, $100. So, that's a debt that they haven't recovered yet. And every single user, and Jess, I think you said before there were 11 million of them. Yeah, it was 11 million in, I believe, 2020. So, it would be arguably quite a few more by now.

So, it's definitely more than that, but there would be a line item, technically, for every single person that uses Afterpay with what they owe. And then if you add all of that up, that would be some of their debt. So I think it's interesting because Jess, that would be a real big spreadsheet. That would be a spreadsheet that would intimidate me. Yeah, they probably don't use spreadsheets anymore. They've probably got some very fancy backend software, I would imagine. I'm just taking a stab in the dark. I just assume. But if we boil it down, that's how it works. They have this line item that's Georgia King or Jessica Ricci, and that's how much you owe and it gets added up. So if George owes $100 and Jess owes $50, they're dead collectively that they haven't

recovered yet $150. Does that make sense? Yeah. I wonder if that's the reason why. So Afterpay, if you didn't know, for anyone listening at home, was purchased by Block, which is like a tech company. There are a number of companies that they own. That's all very stock standard. But when they purchased Afterpay, the projected growth was at 70%. Which is wild. That's a good purchase, right? You go, oh, 70% return. Very nice. Sounds incredible on paper and would probably have played a very big part in the amount of money that Block chose to spend and all of those kinds of things. However, now with their current financial position, it's actually only running at about 25 to 30%. And that is a massive decrease, especially considering the premium that Block had

to pay for Afterpay. They didn't just pay what Afterpay was valued at. They paid a massive premium because they're like, you are the biggest buy now, pay later in the world. We want to own you. They already own ZipPay. The people who own Block are the people who own Twitter. They are big. They're going for collecting data. It was worth it to them. But you'd be pretty peeved if you had made such a big investment to then have it not work out the way you wanted it to. Wild. When I was looking into some articles on this particular topic, because there have been a whole bunch of them popping up all across the finance space over the past week, I saw a few different outlets reporting that there is now concern that because buy now,

pay later platforms and, you know, Afterpay obviously being the leader in that space are operating at such significant losses. There's concern now that that will actually trigger some kind of massive financial crisis, which is scary, but it's very possible. So in 2008, we saw the start of the global financial crisis or the GFC. I refer to this a lot in the podcast because it's where a lot of people lost a lot of money because they sold down, right? Yes and no. So firstly, yes, because the emotional investment journey means that when things are crashing, we want to hold everything close and we go, oh my gosh, my shares are crashing in value and I want to turn them all into cash so that I can hold them close and not feel that loss anymore

because it will just crystallize it and it will stop it. So yes, Jess, a lot of people lost a lot of money because it was going down and they just got really anxious and sold out. Understandable. But a lot of people also lost a lot of money because companies were carrying a shitload of really bad debt. And that is what we're seeing again in the buy now, pay later space. Like, how are they going to pay that back? Think about how much debt they have and how they've never actually ever, ever, ever turned a profit. This company has never produced a dividend for any of the investors. Yet when we look at the share market, Afterpay is pretty glamoury, right? It's pretty glitzy. People go, oh, did you buy Afterpay? Oh, yeah, I bought it when it was XYZ.

It's like, as an advisor, I obviously can't be like, oh, buy this or buy that. But we're not really talking about it being a good share or a bad share to purchase. It just confuses me around people's portrayal of what that looks like. Because if you look at the financials, you're like, that's cooked. That's not good at all. I see the potential. I see that Block's now bought it. But Block buying it to me should have meant that the company would then be successful. Is it? no. Big picture question. If they're in these huge amounts of debt that you're looking at going, how could you possibly repay that? Is that why they're spending so much money on marketing? Because they're trying to generate users that they're hoping will pay late fees so that they

can then afford to pay off some of their debt? I don't think it's late fees because they are a lending company. At the end of the day, it might not cost you as the consumer anything, but they are borrowing out money and making money on that money. So you don't see that, you don't feel that because essentially we're very small fish in the grand scheme of lending out money. But at the end of the day, I also don't think that their late fees are ever going to be enough to pay off their debt. It's just a very big portion of the income they derive. And I just feel like they say one thing and then, you know, the numbers are speaking a little bit louder as to what their true values are. Because if it was so important to them to be putting their consumers

in the best possible position, and it was important for them for you not to incur late fees and, oh, they don't care about that income. It's just a part of it. Don't have the late fees then. Yeah, exactly. Especially coming out of COVID, then why are they there? I completely understand your account being crystallized so you couldn't make any more purchases. I completely understand it impacting your credit report. I completely understand you being in a position where a debt collector comes and asks for that money back. I'm not saying they should just write off the money because, oh, Jess spent it and she didn't have it. YOLO. That's not it at all. I'm saying Jess should pay back her money, but does that mean she has to incur a fee? I mean, credit

cards have interest rates, so that makes sense. And they rack up over time. Arguably, that's very detrimental as well. But the thing credit cards have that Afterpay doesn't is the credit check to make sure that you're a responsible person to lend to. So Bea, if they don't make their money from late fees, despite that being quite a significant sum. How are they making their money? Now, this is a spicy topic. And my partner, Stephen, shout out to the guy who's never listened to our podcast because it makes him feel awkward. But he works in data science, right? So he's a smart guy, smart cookie. This is why we're going to get married to him, guys. So I'm trying to get you guys to buy in as well. So you've got more interest in my wedding. But on the Afterpay

website, it says that they absolutely would never sell your data, Jess. So that makes you feel pretty good. But they do share it with their commercial partners. How do they get around that? Because they're a commercial partner and it's for research. Does it say that? Afterpay's retailers and commercial partners are independent of Afterpay and may have privacy policies that differ from us, but they do share it with third parties who are commercial partners. So that could be retailers or if they're working with a bank at the time, they could share that information because in a way it's for the greater good of the relationship and right it benefits the customer if we're doing all of this research and it's not selling the data if this bank is paying us to

do this separate research and therefore we're partnering together and they happen to get access to the data right and a lot a lot a lot of companies do this where they say oh no we would never sell your data and you go oh that's nice they don't call it selling data when they're sharing it right that's so interesting so it's like we're not going to sell it to a shady telecommunications agency. Oh, we would never do that. No. But we absolutely might sell it to a big bank who's prepared to pay a lot of money for that. Yeah. For research carried out. Definitely not for your data. They would never pay for your data because Jess, they don't sell data. Remember? Wow. But they might share it. Yeah. But they might share it along the way. And that's clearly

disclosed on their website in a way that nobody would ever freaking know. Absolutely. Stop getting so upset about this. They would never share your data with anybody. After pay. They do though. they do though gets us every time doesn't it really pisses me off because the lack of transparency is just wild like it just it's really upsetting and i'm not saying that after pay the only people to do this so don't get me confused when i say that after pay doing this and they're being sneaky like lots of businesses do this and they do this because data is king that is the one thing that makes your business valuable at the end of the day if you're a digital 2022 company data is the thing that you should be prioritizing and this is just like a top tip small business advice but

like that's why you should be prioritizing owning your own data and that's why if you've ever spoken to a small business owner like over on the business bible podcast they really prioritize their edm so their email lists and the reason they do that is because they actually own those as opposed to i have this many followers on instagram or tiktok or facebook as we know those accounts can disappear whenever, and your business absolutely goes kaput. But when you own the data, that's what is the actual value. That's what people are paying for. That's what people see. And that's why they would be prioritizing having that and potentially sharing it, but definitely not selling it. Definitely not. Head to our website to sign up for our newsletter. Yeah, go for it. I wouldn't

even know how to sell data. Anybody in for it? No, our privacy policy says we wouldn't sell data. might share it. We absolutely never would. No, as if I would do that. That would be so contradictory to everything I believe in. Ladies, it's been a while, a week, in fact, since we've had a listener question. Should we have a listen to a question? You don't want to talk about data anymore. Let's move on. Okay. No problems. Straight to some data, one of our listeners sent in to us. Hi, Team Shoes on the Money. I'm a British expat living in sydney and i'd like to start investing here in australia as i'd like to stay long term so just for financial security in the future however when i'm looking into all the apps

like raise and shares it says you need to be an australian resident in order to invest so i was just wondering if you knew if it's possible for people on temporary work visas to invest an app like these or what would be the best way to start investing? Thank you. Take it away, VD. What's the answer to this one? Why do you always come back to me? Where's the advice you guys are giving? It's almost like you're the expert. This is a hard one because I'm so excited that you want to invest and that you are so on top of it and you're looking into it. But unfortunately, because you are a temporary resident, it means you can't invest directly in Australia without permission. And when I say without permission, it's not me going, yeah, G King, you can do it.

I'm more mean legally. You need to get permission as a foreign person who is on a temporary residence visa to get actual permission from a place called the Foreign Investment Review Board or the FIRB, known to the locals. The FIRB. The FIRB. But you need to get permission from them to invest in Australia, whether that is shares or property. I would also argue that if you're only on a temporary visa. I obviously don't know what your long-term intentions are, whether that is to go back to the UK or settle here permanently. And that would change the direction of the conversation. Because if you're planning on going home in the next couple of years, I would really consider whether investing in Australia is right for you. And if it's something you really want to pursue,

I'd be getting advice on it. So talk to either an accountant that you have or a lawyer that you have that could help you out in that particular circumstance, because it's a really gray area and it completely depends on what your future plans are and what the plans are in the immediate future and whether it's even worth it for you at this point because you could be out for some pretty hefty tax implications if you do the wrong thing. So get advice I think is the main thing but really understanding that it is quite limited for people who are on temporary visas and that sucks but hopefully we get to keep you and those temporary visas turn into permanent ones and then you're allowed to invest in whatever the hell you want in this country. And with that G, I think we

are actually done we've savaged after pay again we've talked about data again we've talked about listener questions again we've never tackled that topic so that's new and fresh and bright and bubbly but you know what is not new fresh bright and bubbly our disclaimer so take it away let's do it 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 wow and remember victoria divine is an authorized representative of in focus securities australia proprietary limited abn 47097797049 afsl 236523 see you next week guys see you next week