She's On The Money - FRIDAY DRINKS: Black Fri-yay or Nay?

Episode Date: November 24, 2022

Welcome to Friday! And not just any Friday, but one where many will find themselves in a shopping frenzy. That's right, it's Black Friday and the gals chat the yays, and nays of the day.Plus we recap the week, celebrate your money wins and commiserate the losses, and answer a juicy Money Dilemma all about protecting your data in a leak (which coincidentally was our Deep Dive this week too!) You can submit your Money Dilemma here.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 is Friday, my friends, which means it is time to sit back with the girls with a bevy in hand to unpack our favorite moments of the week and, of course, to celebrate you, our incredible She's On The Money community. As always, we're going to be sharing our favorite money wins, we're going to discuss what's making news in the finance world, and we'll be helping to answer a juicy money question, which this week, unsurprisingly, is all about how to protect your data. But first, it is time to recap the week that was. Miss Jessica Ricci, you are here with me, but I get to go first this time with a summary of our Monday Money Diary.

So this week we spoke to obviously a very beautiful community member, but her story was really, really different. So obviously life is not without challenges. She was managing a chronic health condition. So she had endometriosis, which I think a lot of people in our community can really resonate with. And she also works as a teacher. She's a humanities and social sciences teacher, super, super passionate. The one thing that we didn't really cover in that episode is that the space she works in is more with disadvantaged children. And on top of that, she was a director on a board for a non-for-profit NDIS service provider, which challenges the status quo for recruitment in this space. So honestly, she did so much and it was such a personal story.

It was really interesting to see how she managed her financial life and how that worked when you're dealing with a chronic illness. So I feel like that was a story that a lot of us either resonate with or really sympathize with. So it was, from my perspective, obviously a really good one. On to Wednesday, though, Ms. Grici, what did we talk about? We're talking about protecting your data. We've had a lot of people-

Wow, that is not how I thought that you would introduce that. Really? Protecting your data. It's important. No, a lot of people have been messaging us, firstly, after the Optus breach, which got everybody, including me. And then with Telstra and Woolies and all of the other breaches that seem to be happening at the moment, I think people are really anxious around protecting their identity and what could potentially happen with that. So we spoke through some

really tangible steps that you can take to protect yourself. I think in this day and age, we might've all gotten a little bit lax with saving passwords and not changing them and having the same one for 10 different logins. And it's just probably a really timely reminder for all of us that our data is really important and it's not just about like keeping your Facebook account safe. It's about people literally being able to defraud you with the information that they can get from your public profiles and things like that. Yeah, really, really scary stuff. But more on that a little bit later because we're going to touch on it for our money dilemma. All right, it's time for our budget direct money wins and confessions of the week. What have you got for us? My first

one is from Sarah who said, money win, a quilt cover I've had in my wishlist for months on the iconic finally went on sale price of $99 down from 280 and the pillowcases dropped from 40 to 10 completely unexpected and great timing as I got my new mattress today I feel like that's the best feeling in the world new mattress new sheets like new life I never get them all at the same time though that's real bougie like I feel like that is the universe just aligning for her so that she can have the absolute best sleep of her life tonight my next one comes from Alex who says money win. I arrived home from overseas and ordered food from Uber Eats because I didn't have any groceries after being away for so long. Relatable. Delivery guy dropped off the wrong

order. It's somebody else's groceries. I tried calling because I was really hungry and looking forward to having some comfort food, but it was too late. Uber Eats refunded me after I reported the wrong order. So I ended up with free groceries and a stocked fridge and my 25 bucks back. I did have to cook my own dinner though oh that's the worst I'd be like I don't want groceries I ordered takeout not groceries I had that happen recently actually I ordered ramen yes online and I was so excited about it because I love ramen and this new place had popped up on uber eats that I hadn't seen before and it came deconstructed like I had to cook the noodles and Stephen I was so salty about it it came and he's like oh great I'll get I'll get dinner and I'll pop it in a bowl for us

he brought it to the kitchen and was like, Victoria, like, and I was like, what the hell? And he's like, what have you ordered? And it was literally like all of the vegetables had not been cooked. The noodles were in like some glad wrap wrapped up and they clearly looked like they were covered in like flour. Like they were fresh. They were gorgeous. After we cooked it, it was delicious, but I was not okay with that. You were wanting it to arrive and then immediately tuck straight in. Yeah. Like it's takeaway. It's not fake away. Anyway, moving on. Oh my gosh. Well, I have another travel themed money win. This one from Scooter who said money win, booked a Bali holiday through Expedia and got $80 back on Shopback. Money win. I feel like

everyone's getting ready to travel right now. And if you are doing your online travel booking. And you're not using Shopback. You're missing out. Where are you? It's free money. It is literally free money. My next win comes from Kirstie who said money win. I thought I had around $600 still owing on my car finance. Called up to see how much I actually had left to play and I could pay it off that day for $43, which means I am now officially debt free. Money win. We love to see it. That's so exciting. I feel like maybe she's been making some extra repayments or something like that because her numbers were so off, but that's like the best surprise in the world. Don't question her numbers, Jessica. That's not what we do in the money win thread. Like if you say it's exciting,

I am here for the excitement, not to question whether it's legitimate or not. We are excited for you. My last win for today comes from Stella who said, money win. I thought I had landed my dream job straight out of uni, but it didn't end up being the job for me and I was devastated. However, I landed another job almost instantly, got a 60% pay rise and I'm now on six figures in the second year of my career. What? If things aren't going well at work, try not to stress yourself out and take it as bigger things are coming your way. P.S. They also feed me breakfast, lunch and dinner in the office now. I'm in love. What the heck? I want a new job. I quit. Yeah, you guys never feed me. I just steal Cokes and stuff from the communal fridge. That's all I've

got. We live on Coke and sour worms in this office. So Stella seems like she's winning at life. Breakfast, lunch and dinner. Like maybe she gets Uber Eats. I don't know. Not ramen, hopefully. All right. That was probably a really good place to leave it. I probably am going to go and try and apply for a job there because there's nothing good in this office at this point in time. As always, it has been fantastic celebrating some of your Budget Direct money wins. Budget Direct winner of Canstar's Insurer of the Year Award 2022. Budget Direct insurance solved. Let's go to a really quick break. And when we come back, we are going to be answering a money dilemma and recapping what's going on in the finance world. Don't go anywhere.

all right guys today it's black friday i swear it was just black friday like a week ago i don't know how it's come around again so quickly if you don't know black friday is a holiday that started in the u.s it's this huge shopping extravaganza where everything goes on sale and it's kind of i guessed filtered over to us through capitalism and consumerism mainly but I thought it would be a fun chance to talk about an article that I read recently talking about how much we're expected to spend. According to NAB, Aussies were estimated to have spent a whopping $8 billion during the four days of Black Friday to Cyber Monday last year. $8 billion?

Yeah, $8 billion, which is, I can't even fathom how much money that is in my brain. That's more than the amount of people in Australia. We have 25 million people in Australia, or 25.7 or something million people in Australia and we're spending billions of dollars. It's not even Christmas or New Year's or like a, what the heck? They're tipping it'll be even higher again this year, which remains to be seen. I'm not okay with this.

That gives me the ick. I think it's a really hard dichotomy because on one side of things, I've been waiting for Black Friday for a few purchases. I want to buy some AirPods and I'm like waiting to see if I can get them on sale and get myself a bit of a deal. But then the flip side, if we're spending $8 billion, I'm going to take a stab in the dark and say a lot of people are probably also buying things that they weren't necessarily planning on.

So your things are maybe for you or are they gifts? Like, is that the plan? Because I feel like if you're making use of it, it makes sense. Yeah. I just feel like Black Friday, I don't immediately think, and this is maybe not a good thing for me, I don't immediately think, wow, I could stock up for Christmas. Like, that is not where my head is at. I'm like, oh, is my favorite shop on sale?

Yeah. No, 100%. It is a little bit naughty. And I think, you know, the last couple of weeks, there's been a lot of marketing leading up to this. Brands are really capitalizing on it. I remember last year, almost every website had 20% off or buy this, get this free or whatever. Everybody seems to be really leaning into it because they've cottoned onto the fact that people are cashed up and wanting to spend. But I mean, it's a little bit tricky because, yes, it's a great time to get those gifts, but it's not a great time to just be spending on

things because you're like, oh, it's on sale. I'll treat myself. Yeah. And that's why I think it's really important if that's the period that you're going through and you're a little bit like spend happy or click happy as I can be. Like before this happens, why don't you go through your email inbox and just unsubscribe from anything tempting? Like, I don't know, I've been speaking to friends about this and they're like, well, I don't want to miss out on discounts. I'm like, yeah, but you can go find a discount when you're ready to purchase something. You don't need to wait for it to slide into your DMs or into your inbox for that to happen. So I think unsubscribing from all of the retailers that email you on a daily basis

is really constructive. I know I'm the worst, right? Like Jess, you know, I love a good shop and it's one of those things where sometimes I'm not even thinking about it and then I get an email and they're like, new in. And I'm like, oh, I'll just check that out. Like I'll click it. I like this brand. And then all of a sudden I found a dress I think I need and then it's all I can think about. Whereas I just didn't need to see the dress, you know, like I just didn't need to. Did I need a new dress? Probably not. And then all I do is think about it, convince myself I need it. I'll do that thing where I tell everybody else to do this too. Put 24 hours between you and your spending. And I'm like, yeah, I still want the dress. Yeah. What if I didn't see it?

You just never would have thought about it. Exactly. So nip the problem in the bud before it even happens, I reckon. Do you want a fun tidbit about why it's called Black Friday? Oh, yeah. Just like a random. Of course I do. Have you ever thought about it? No, I feel like this is going to be really morbid. It's not morbid. It's just very random. It's a little bit finance-y. So it's said to have been coined in 1869 when two people named Jim

and Jay were Wall Street financiers and they bought a huge amount of gold in the hope that its price would surge. Apparently, the opposite thing happened. The market crashed and it became Black Friday. Oh, but like what? I'm so confused. I don't know. They drove out the price of gold and the stock market crashed and it was a black day for everybody, I suppose. Oh, that's what you meant. I was like,

gold is gold, not black, Jess. Oh, no. The day was black, not the gold. I'm like, it didn't change colour. No, they set it on fire because they were so angry that it didn't come up in value. I was like, what are you talking about? You know what? That's a really disappointing reason. Well, the other thing that I read was, because obviously Black Friday follows on from Thanksgiving. And so in the major cities back in the day, people, you didn't have your local shopping centre or your online shops. And so people would turn up to the city in like droves to do their holiday shopping. And again, huge crowds, lots of pollution, not a great day. Black Friday. Yeah. Wow. I feel like everything in Australia is

becoming quite Americanized and I'm not liking it. So like Halloween happened recently. I love Halloween. See, you're probably the perfect person to ask because when we were in America, you were hunting down pumpkins like nobody's business. And I was like, what the heck? Like, I just don't understand this holiday. I don't understand the holiday, but I also don't understand why Australians are embracing such an American holiday. Like you tell your kids every other day of the year to do not trust strangers and what now we're going up to their houses and knocking on the doors, asking for the lollies, like step into my van, tiny child. Like I just don't understand the concept of it and why Australia is embracing it. Like I remember walking down

the street a couple of weeks ago and every second house is decked out in Halloween stuff and I'm like do you even understand Halloween like I don't even understand where it's come from anyway I've just got a lot to say because I don't think we should be doing it I think Halloween comes from All Hallows Eve which was like a I want to say pagan I don't know if that's right but like something way back in the day that was a little bit almost not quite religious but you know something like that that's obviously been like really re-contextualized for again capitalism them. I just like it and I feel like maybe a lot of people are in the same boat as me. I just like a theme in the same way that I love Christmas. I love the chance to decorate my house

or dress up in a costume or buy lots of cute tiny pumpkins and I know that it's not even autumn here and the pumpkin motif doesn't make sense but I just love anything that gives me the chance to do something fun like that. Oh and I'm all about you doing that like I will get behind you in fact I think, you know, I'll get behind you because we went to so many American targets looking for the pumpkins of your dreams. And I was like, I still don't get why we're here, Jessica, but I'm all in. I just don't understand it. I'm just like, this feels like a waste of money.

Why are we buying pumpkins? It's not even full. You can't even eat them. I saw pumpkin carvings out the front of people's houses and I was like, is this food waste? Like, I just, I don't get it. Does it just sit there and rot and then you throw it out? Like, anyway, there's just a lot to Halloween that I don't understand. maybe don't come for me if one day I have kids and they want to celebrate it and I'm like ah

it's just too hard to fight them because you know yeah I just feel like I don't want to be called out as a hypocrite but today you will not see my house decorated you will not see me celebrating it I just don't get it and pumpkin spice lattes taste like trash oh my god they do give me a strawberry acai refresher any day I just don't understand it like that was one of the things I really wanted to try while we were in the US because I was like, oh, this is so American. Not great. One out of 10, cannot recommend. Do you know what we should do though? Move on to the money dilemma. Let's hear it. 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. Hey, she's on the money. First of all, love the pod, but I just wanted to ask a quick money question about the latest data hack with Optus. Unfortunately, my details were taken by the hackers and I just wanted to ask your thoughts on the best way to protect my finances in particular. I do remember hearing a money diarist saying that she put a hold with her bank or something, but I couldn't quite find the episode to get that exact information. I also

wanted to ask if you had any other helpful tips or tricks to make sure that my finances aren't compromised by the hackers as well. Any information would be great. Thanks. Abby, Abby, Abby. So step back two days, go to Wednesday, listen to that episode. It was literally made for you and everybody else in this circumstance. We talked all about data protection, data breaches, how to protect yourself and keep your data safe. Jess, what were your main takeaways? I think it was just like the safety thing for me. So like being really conscious of where you're putting your information, being careful of what you're disclosing online, because turns out people can really easily find information, even if you think you're being smart with it. Like we spoke

about the sold boards out the front of people's houses when they buy them for the first time. so we spoke a little bit about the impact of those things but if you have been hacked the tangible steps were really to be preemptive so don't wait until someone defrauds you try and get in front of that boat if you can and that does mean calling around to different people including your bank and that hold that she was talking about was you can literally just put a hold a lot of the times now you can turn your card off or your bank account off through your app yeah i can just do it through my app and just like can't not cancel the card but just like pause it, which is kind of cool. Yeah. But if you can't do that, give your bank a call on the phone

because they should be able to either turn off, you know, certain types of transactions or at least make sure that someone within their dedicated team is monitoring it for any dodgy looking transactions. I think the one thing to me that was a really big eye opener is obviously these big data breaches are really awful. It's your email, your phone number, your personal information yeah like literally all this information that you don't want to get out and you know that's where I feel unsafe too I totally get it but it's kind of those subconscious data breaches as well that we talked about like your username on social media like why is it victoria divine 91 like you guys all know when my birthday is so I'm not too concerned about me at this stage

but like you instantly assume that that is my birth year so you have my full name you have my date of birth like I just feel like we don't think about data safety in a way that we should so yeah there was a massive data breach we're lucky we know that but it's all of these subconscious things where people can just go on your Instagram and see your profile and scroll back and see who you dated and what you're like do you know what I mean like find out the security questions to your password because you're like oh my gosh my first pet xyz passed away immediately they have your first pet name and that's one of the security questions that you have on your bank and I just think it's so important to think about all of those small things I'm not saying go and have an

alias but just be really careful because I didn't realize up until a few weeks ago my Pinterest name was literally the same and I was like yeah well I mean it's kind of public knowledge at this point what my birth year is because we talk about it all the time because I'm literally a financial end of year baby life. And it's kind of funny. But to be honest, even when I've shared that information with the community or posted on my birthday, I didn't think about my data. I was just thinking about sharing a cute picture with my friends. So I think it's really interesting now because the world is full of people that I don't want to know, but they might want to know you. So I think it's just be really cautious, be really careful and don't be a boomer about it.

Yeah. Treat your data with the respect it deserves, which I think we've all gotten a it lacks with because we got desensitized to it i totally have as well and i kind of just don't think about it like i'm just like yeah okay no worries like yeah but abby definitely listened to that episode because we covered off on so many things really tangible tips as well as some things to keep an eye out for we've also done an episode in the past called scandalous i was gonna say f c a don't is it is that yeah we're not doing that we're not going there we Can't sing, that's why we have a podcast, not music videos, Jessica. Very true.

But definitely go back and check that out as well because it had lots of tips and tricks on what to do if your details are scammed and being used for something unsavory. Also, the other thing before we go is that you can call any of your providers and ask them for the information that they have on you. If you're feeling a little bit uneasy, you can actually call the bank and be like, hey, what information do you have on file about me?

And they have to share that with you and you can actually request that once they've used it, it be destroyed. Pleasure. Yeah. Handy, handy hint. But in saying that, I think that's my last piece of advice for the week, Miss Jessica Ricci. I think it's time to go. Let's go get a drink. 10 out of 10 idea. Let's go. See you guys next week. Bye. 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. Thank you for watching!