She's On The Money - FRIDAY DRINKS: Guava good weekend friends

Episode Date: January 14, 2021

We didn't get booed off last week, so we're back for another Friday Drinks. This week we're sharing our fav posts from the community, talking about Django Unchained and period knickers. If that doesn't sound riveting enough, sorry - it's just who we are. Happy Friday friends!Joining you for the wrap this week you’ve got Victoria Devine, Georgia King (she's back, stop stressing guys), Ryan Jon and Jessica Ricci.Do you love the podcast SICK and want more SOTM? Course ya do. Join our Facebook page to share your money wins and money confessions, follow us on Insta for daily inspo to keep you on track and DEFINITELY subscribe to our newsletter, the written recap of the pod's key takeaways, including some bonus bits you won't want to miss.Finally, if you're in a money mess and need help untangling the muddle - we've got you sorted - simply record your question and send it through to us at [e-mail] and you may just end up on the podcast!The advice shared on She’s on The Money is general in nature and does not consider your individual circumstances. She’s on The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. Victoria Devine is an Authorised Representative of Australia Pacific Funds Management Proprietary Limited ABN 34 132 463 257 - AFSL 339151.See omnystudio.com/listener for privacy information.

She's on the money. She's on the money. Hello and welcome to She's on the Money's Friday Dreams. Now, you guys all know by now my name is Victoria Devine. I'm a financial advisor, I'm a millennial, and I'm a woman who is wildly passionate about financial freedom. Now, our friend Georgia, she's back this week, which is very exciting. And this week, we are also joined again by Ryan and Jess for the very second episode, Friday Drinks episode of 2021.

Now, this week, we're going to be talking all things investment in line with the investment episode we did on Wednesday, which is very exciting. But first and foremost, friends, let's go through the Facebook group and talk about our favourite posts of the week and what we've seen going on in there because it is arguably my favourite place on the internet. Let's start with you, Georgia King. Oh, fabulous. I'm glad I'm so prepared. Although I've been told not to call you Georgia King anymore.

So, Georgia, would you like... You call me what you want, girl. I'll answer us or anything. Usually not when you're around. But, Georgia, would you like to start? Also, should we let the fam know that we've got some delightful vodka cruisers? I didn't know if we were going to be talking about that. Should we? I mean, we should because it justifies our laughing when Jess tried to drink the whole bottle.

She's like, I can't drink and podcast. I was like, I'm just going to get out. But you know you can just sit at the top without putting the whole bottle in your mouth. You're going to get tonsillitis. Have we killed enough time for Georgia to have found her post? Yeah, we've got one. Okay, so I'm going to start off quite gently here because I don't know what you guys have in store. So this one is from Belinda.

Instead of purchasing a book online, that can be quite pricey. You saw this one? Oh, I saw this one. So she was going to buy it on the Kindle app for $15, but instead she went on the Libby app. So not even the library. And she found an e-book for free from the library. Did anyone know that was a thing? No.

What's Libby app? I'm assuming it's like a library app. It sounds like the millennial version of the library. Yeah, yeah. And it's legit because I know sometimes I'll, I mean, some people will Google like so-and-so PDF or try and get a textbook for free. I've done that.

We're all guilty of that, I do believe. But this app, it seems like it's a real legit thing. Well, I mean, I trust Belinda, but I'm going to look it up later. Libby sounds good. And, I mean, libraries are also very underrated just in general, don't you think? I would agree. Why are we paying for books?

I feel like there's so much stuff. I mean, when the She's on the Money book comes out, I guess we'd probably not promote libraries and promote you purchasing more. Just email me and I'll send you a free PDF of Victoria's book. No, that is a good win though, absolutely. Jess, what have you got? Mine is from our friend Tiana. She is in Brisbane and they are currently locked down, can relate, feel for you guys.

We're in Melbourne, so like your three days, we raise you four months. That's true. Hopefully it doesn't go that way for them. But she said money win, not going out for dinner, friday saturday sunday not going out for drinks that's a lot of money in her pocket that's a pretty good money win i feel like put that in your savings account so you don't miss out on that win as well like transfer what you would have spent to savings so that it really does work as hard as you are currently working in iso because we've all been in isolation this year and i can honestly

say not all of it but a lot of the money i saved during lockdown i totally made up for it and probably the three or four weeks coming out of it is that fair to say yeah absolutely like take it off yourself so you can't spend it later is the key tip there my favorite post is by sheila anderson and she just says this speaks to me on a deep level was her caption and it's the how would we describe that leonardo dicaprio meme where it's from what movie is that from this can go one of two ways ryan's about to try and explain i'm about to try and explain really well or it could go miserably back him i back him in what is that movie is it um the 1920s one yeah great the great gatsby no no it's the other one with tarantino made romeo and juliet no with jamie

fox in it django django yes yes it's the meme from django unchained where i feel like if i do the noise everyone will understand it looks like he's going does everyone know the meme i'm talking about so this is what it says and again describing a meme on audio oh my god this could have been about it me finally catching up on all my bills my car and then it's a picture of the engine light coming on and the engine light is being held by leonardo dicaprio going hard relate on that i actually don't understand go and look up sheila anderson's post it's in the facebook group but it is so true you finally catch up on all your bills and then that little light pops up on your car and you're like are you

including me six months i've been looking forward to being debt free and bill free i feel like that summarized it we're all with shiller if that's the premise of the meme yeah i feel like i've picked a money win from the community that is definitely not on the same page as everybody else's but i thought it was really cool so alana posted that for christmas she bought herself some period undies and now now we're going from django unchained to periods i don't know this is arguably a lot more diverse than we thought it was going to be but essentially she said that a little change in how she's been doing things for the last 15 years but she's super stoked with them and she'll be definitely buying some for her daughters when the time comes so for

me i really liked this post because one we're promoting more sustainable ways to live our lives but two you guys loved this post there was so many comments on this i think this post reached more than half of our community which is actually pretty big guys and i just really liked that we had this open honest conversation there were more than 500 comments on this post of you guys just talking about how you manage your periods and like if that's not us coming into 2021 i don't know what is because let's take back that power and i really liked the conversation and there were so many people that were like oh my gosh yes how are they going are they a thing that i actually want to try like which ones do you use and people were making really cool recommendations and it was just

a really good post that i got a lot out of so are they generally really expensive they're not the cheapest thing to buy but at the same time like a box of 12 tampons could cost you like four or five bucks yeah buy them 12 that stuff yeah that stuff adds up you definitely don't just use 12 tampons yeah not that you'd understand ryan welcome to she's on the money thanks and maybe i feel like it's not a bad thing to talk about it's not something that impacts just women like periods are a thing full stop end of story for a lot of people so earlier this week we were talking about investments on the podcast and we talked about the different asset classes that we had and I thought it lent really well to actually asking a couple of questions of our team and how

we want to invest and maybe what we're thinking about investing in in 2021 and maybe what we've already done already. So back to you Jess, I know that one of your goals is actually to start investing or understanding investing a little bit more because you mentioned it on our first podcast of the year. Can you tell me a little bit about why and when and where and like what's the plan? I want to get into big girl investing, put on my big girl pants. I know and understand the lay of the land in terms of micro-investing. I get it. I think a lot of our community members can relate. I'm kind of at the point where I'm like, I don't have a spare 20 grand lying around to just chuck on in there, but I'm ready to commit to allocating a portion of my pay every month to

kind of let that build and let that grow. I want to prioritize it. So I'm thinking after that last podcast on wednesday that etfs would maybe be the way to go i'm looking at you with questions in my eyes so that i'm not just your boss i'm also your personal financial advisor now so uh we can work that out love that for me um no but yeah i think just figuring out kind of what that next step is and i feel like we have something exciting coming that might be able to help me out a little bit along the way which would be really nice but kind of that that middle step i'm not you know like wolf of wall street like money coming out of my ears but also i'm not just chucking five bucks in my raise every month either. So tell me a little bit about what's stopped you so far. I just didn't

know enough I think like I just was very uneducated and it is obviously intimidating not when you don't know something and obviously you hear a lot about the stock market potentially being volatile and you're like oh I don't want to put money in and then not have money come out and it's a whole thing and then obviously I am kind of balancing saving for a house deposit as well but I think you know with some some careful planning and thinking about it and obviously coming to my personal financial advisor a couple times a week i can figure out a way to make that work for me ryan john what are your thoughts on investing and do you do it well i do as you know v i am it sounds like a really wanky book title but i would call it an accidental property investor

um so whoops i accidentally fell into property ownership says the most entitled millennial in australia like i said it sounds like a wanky book title that some like get rich quick scam artists would put out but basically i bought a really cheap apartment when i lived in regional western australia and i bought it for about 215 000 which is just crazy to think now that i'm in melbourne because that would buy you literally nothing i don't even think you can buy a car park in the melbourne yeah so i bought a house uh and i had a person from work living in the spare room and renting and stuff so it was wait it was like a more than one bedroom your two-bedroom apartment on the beach in Western Australia.

Yeah, so on the way towards Margaret River. And I was working in regional radio there. And that's actually where I met my now wife, Bridget, because she's a winemaker and was working in the Margaret River region. Money and life. I know. So she herself had just bought a house. Just for those of you playing along at home,

that was another mention of Ryan's wife. So Bridget also had bought a house, a full proper three-bedroom house for like $260,000 over in WA. Oh, she was a baller in comparison to you, my friend. I know, she was really living it up. So we just owned our own houses before we met. and then we both moved over to the east side of the country so suddenly by accident we have these two investment properties because the market was so low it wasn't worth selling so we're like oh

we'll just get some renters in and without intending to be property investors we probably would have chosen to invest in shares if we were going to choose but we just sort of ended up with it and then we bought another house in canberra and now we've moved to melbourne so we've got those three houses which again sounds glamorous but as victoria hears me whinging every time i I get paid I go cool I need to top up that house top up that house and top up that house and until you actually get ahead a little bit property investing can definitely sound a lot more glamorous than it really is because you're paying council rates you're paying for when people message you and go oh the dishwasher's broken can you send around a person and there's all these

extra little fees and stuff which when we do the property investing episode we'll talk about but it is not that it's a really bad thing overall but there are a lot of extra costs that we have to sort of top up from time to time and v is that a kind of a common theme with investment properties you'd say they can be a lot more expensive and a pain in the butt that people 100 and i think that people get i think that investment property gets romanticized in a way because it sounds so perfect you save up your deposit and then you get a renter in and they'll pay your mortgage off and it just pragmatically doesn't often work that way you might meet people that do have the rent that's coming in each and every single month covering their mortgage and that's actually a really great

outcome but a lot of people don't have that and they have to top it up and that's okay and that's normal you're still building equity in that asset but i think it's really important to note that you know you might save for that deposit but then it is an ongoing commitment of your cash flow essentially for the next 30 years if you're not paying it off sooner so i think it's really important to consider that when talking about investment properties and yes for those of you playing along at home ryan does complain a lot about having and the simple thing is to say oh we earn this much in rent and here's the mortgage and the rent kind of covers the mortgage and that's where you go oh how good's this but it is the council rates and the water bill and that sort

of stuff that kind of adds up and we have to pay more so we actually put money into it rather than a good investment which should be giving us money yeah we're actually giving it money but we keep reminding ourselves and actually v tell me right now if this is a good thing or a bad thing but we tell ourselves oh even though we have to top it up here and there once they're all paid for in 20 or 30 years this is you know it's like superannuation again it'll pay off in the long run are we right in telling ourselves that or yeah it's not a bad thing once it's all paid off and you have rent coming in that does become an income source for you especially in retirement which is why a lot of people say they really want investment properties but the thing with an investment

property is it's super valuable to you once you've paid off the entire mortgage so if you're like oh my gosh i'm gonna go buy a million dollar property because the rental returns on that are really great but they definitely aren't covering your million dollar mortgage can i just quickly tell a story about the person that's renting I wonder if she listens to this she's a young school teacher the girl who rents my apartment in Bunbury oh we get this email and it says hey Ryan there's something wrong with the hot water after about 20 minutes in the shower the water's not hot anymore are you joking no and I'm guessing she's grown up in a place that has you know that was it the ever stream or whatever they're kind of called and I said oh hey um it's finite yeah it's there's

this cupboard off the bathroom it's got that's the hot water tanks in that like you can see it once it runs out it's all done and she says no no i'm pretty sure there's a problem with the hot water and i said to her you just don't have so i sent an email so cool get the plumber or the hot water person whatever you need if you've just used all the hot water then you have to pay that hundred dollar fee for them just to turn up and if there is legitimately a problem i'll fix it no problems at all i'll pay for it that is sassy from you by the way because you you knew what wasn't endless hot water you knew what the problem was she wouldn't take it she wasn't having it she wasn't having it so i kind of forgot about it and then a month later i get this email and just said

dear ryan you will not be required to pay the plan and just apologies to you if you listen to our podcast we just made a really great segment out of you but like i said she's a young uh school teacher female which is uh but you might not have understood that and there might be some people that are like i fully didn't understand that that's not a thing what hot water runs out we're not just hot water educate you about your finances utilities so when i grew up i had endless hot water at my house that says everything you need to know about victoria divine yeah okay like that definitely doesn't but okay um so had endless hot water and it was like the ongoing argument in my house of my parents trying

to drag me out of the shower like i remember vividly my dad banging on the door being like get out of the shower, and me being like, meh, I already locked the door. What are you going to do? And as like a 16-year-old, like, try me. 16-year-old Victoria, not a pleasant human. Not getting out of the shower. Not getting out of the shower, not having whatever you've got to serve. All right, we will get to Victoria and Georgia's investments,

but first of all, let's just do a quick message from our partners. all right we are talking about our investments because we did an investment episode a few days ago georgia king you've been the host of australia's number one money podcast for the last year has any of it sunk in look bits and pieces here and there um no no it hasn't um no i'm getting there i have I was just saying to Jess before that I have big plans for 2021, as a lot of us I know do. I think I am, again, in a similar position to Jess, still ready to take those steps into investing properly, the big girl way. But also, I would be lying if I said that property wasn't still on the list of to do in the next five years or so. But I mean, the world is a crazy place. So

who knows if that's possible but that's kind of where i'm at does the price of property scare you off and put you off wanting to save for that um because you live right in town at the moment right right in town but i don't think i would buy up here i'd go i'm from the beach so i'd probably go more regional anyway which is slightly more affordable but still ridiculous so it does it definitely puts you off i think it puts us all off but i think just continuing to save and save and save for that is kind of where i'm at i can feel victoria gazing at me from my left side over here i don't think it's a bad idea to do that at all no at the end of the day i always say invest in line with your values and spend your money where you want to spend your money what my job

is is to actually educate you on all of the options that exist and not tell you to go one way or another just because i do something or i say oh my gosh shares are my favorite shares are my personal favorite but like you might like your vodka guava cruiser but I might like raspberry that's not true but like we might be a little bit different and that's totally okay but my job is literally making sure that you have the tools and resources available to you to make the decision that is right for you not the decision that is right for me personally and I think that's something that's really important to get across as well because I think people like oh my gosh I have to start investing because if she's on the money if that's because you've just discovered it and you're

starting to learn about it and it aligns to your goals and values fantastic but i'm not trying to talk you out of buying your first home if that's your dream like i want that for you so much but i don't want you to have that if you feel like that's your only option yeah no i think i've just learned a lot for sure doing this podcast for the last 12 13 months and um investing in shares is something i definitely want to do as well which i probably if i wasn't the co-host of this podcast I wouldn't have thought about before. So thanks, V. Yay!

And can I just say, one of the most impressive things that I've heard during my time working with you guys at She's On The Money is hearing Victoria just give that inspirational speech and putting vodka cruises as the example. That is a real treat. All right, so myself, Jess and Georgia have all gone.

Do we take a deep breath, us three, as we ask Victoria? Breathe, friends, breathe. It's not, honestly, it is not nearly as exciting as you would have thought it would be. I think I'm really opening myself up here to tell you how much I have invested in She's On The Money and I did sell a lot of my shares so that I could invest in She's On The Money and I could fund that and I'm really grateful that Past Me actually had those assets to be able to liquidate so that I

could invest it in She's On The Money and I'm not saying you should sell your shares and start a business but I am saying if it is in line with your values that was something that you know really enabled me to make sure that I still held she's on the money as mine. I didn't have to go and get someone else in to make sure that I could keep the cogs churning per se. When it comes down to it, yes, I do own a share portfolio. I'm probably a little bit riskier. Did you guys see that coming? I own ETFs. I also own direct shares. I own a well diversified portfolio, like small portfolio of direct shares. And the reason I do that is purely because I'm interested in them it's not well diversified in the grand scheme of things it's just purely because I'm

like oh I'd really like to follow that and something that I get really excited about is actually following my share portfolio and following the market and seeing what's going on and this is one of those things that is do as I say not as I do and I do sometimes take a bit of a punt on a share I'm not saying which ones I have taken punts on historically but I do do that because I'm really excited about it and I go oh my gosh I have read literally every annual report of the last 10 years of this business and i think this is the year for it i can confirm that victoria went in on a punt and i went in with her and that has not been one of the successful ones not yet not yet but that i'm very excited about that i'm reading their annual reports and oh my

gosh i'm so excited actually george i think you were there that day yeah you won't say what it is legally i can't but i think it's one of those things where i'm really excited about that and i told you that was a 12-month minimum play come on yeah i'm just saying that the first few months just really set a new bar and i feel like i'm still in i'm ready to go so over the last 12 months guys i bought in a share and i was very excited about it and i did put some money where my mouth was when i take a punt and i think this is really important for you guys to understand is i am not putting money up that would cripple me if i lost it when i take a punt i'm putting a number let's call it like 500 up knowing full well that if it doesn't go well i am going to

lose that money and that is a very privileged position to be in to be able to say okay I'm going to put this money here because you know I do genuinely believe it'll change but if it doesn't it doesn't and this is where people see shares and they just assume all shares are like this and it's not but I have put some money in a share I think I bought in at $3.15 it's currently at $2.39 so I am not a winner this week that might be my money loss but I do genuinely over the long term believe in this company and I'm still really happy that I bought in at that amount and I back it still when we talk about shares I think it's really important to understand that I am a little bit more educated than the average bear when it comes to this kind of stuff so for me to go and

buy a direct share it does not mean that this is what you should be doing I did start my investment journey with micro investing platforms and I still use micro investing platforms I use one that rounds up and I really like that because it kind of does add up and it's really exciting and I feel like I should have that platform purely because my community does and I want to be able to relate to you guys and understand what you're going through and when you've got questions I can send screenshots of you know well this is what that portfolio looks like and these are the updates and these are the things that I do like so I do genuinely still use that and love that and will continue to do so but when I do reach a certain amount in that I do put it into my ETF portfolio

and then I had cash and now I have very little cash because I have just purchased my first home so for me that is what my investment journey looks like and over the next 12 months my priority will be paying off my mortgage a little bit more because it makes the most sense to really stabilize that my partner and I really want to pay off enough of that mortgage so that one of our this isn't going to take 12 months for instance it's going to take a while but so that one of our incomes can service the mortgage and then once we get to that point every other dollar that we earn we'll go into shares so that we can turbocharge our future retirement so of the investments you have in shares what percentage overall would you say are in etfs and what percentage are in

singular stocks and what percentage would say you would in inverted commas the punt stocks like the kind of okay friends i know this all right so five percent is in my micro investing platforms 15 is in just me taking a punt and i would say 80 is in my etfs did that equal 100 can anyone check that? 20 plus 5 plus 15 plus 80 is 100 my friend. That's why she is the leading financial advisor in Australia. But I do know exactly what's going on and I actually use a platform personally where I have connected everything up in the background so that I can keep track of what my overall portfolio is. So something that is also really important to understand is that a portfolio is actually everything you own. So Ryan that would include you have an investment portfolio yours

just owns property and Jess you have a portfolio yours is just currently in cash and in micro investing and Georgia yours is cash not wrong not wrong but I have a portfolio and it's made up of lots of different things it's not one specific portfolio you don't have multiple portfolios you have a portfolio and that is essentially all the things that are wealth generating assets so that is what mine is made up of friends and I'm very happy to share that you will see the ETFs make up a very large amount of that and the reason they do is because they are a stable asset and as I told you guys I am not wealthy enough not nearly wealthy enough to have just a direct share portfolio. So just before Georgia King tries to wrap us we would really like to acknowledge and

pay respect to Australia's Aboriginal and Torres Strait Islander peoples, the traditional custodians of the lands, the waterways and the skies all across Australia. We thank you for sharing and the caring on the land which we are able to learn. We pay our respects to elders past and present and we share our friendship and our kindness. Now 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 a financial decision and we promise Victoria Devine is an authorised representative of Australia Pacific Funds Management, Proprietary Limited, ABN 34132463257, AFSL 339151.

And a big thank you to Ryan, Bec and Jess for putting it all together. Also to Victoria for bringing Vodka Cruises to the party today. Well done, mate. Cheers. Thank you, I bring a lot to the table. Also, just a reminder, just because we're drinking on the show doesn't mean that we drink excessively. Please remember to drink responsibly, friends.

See you next week, guys. Bye, guys. Bye. Thank you.