She's On The Money - FRIDAY DRINKS: Live On Tour - Melbourne

Episode Date: October 13, 2022

Another Friday has rolled around and today we come to you live from our home town Melbourne, with a huge episode from the launch of Victoria's brand new book Investing With She's On The Money!Listen as Victoria and Jess wrap the week and celebrate your money wins. Plus, they are joined by very special guest Victoria Latu, one of Australia’s most influential fashion commentators and creators. Her online platform Talking Shop, is a bold modern lifestyle online brand for the millennial woman covering fashion, beauty, lifestyle, motherhood and wellness. She is an advocate for diversity within the fashion industry and helps promote confidence in women across the nation, through how they style and create their signature looks. 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.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. Welcome to our very special recording of our show coming to you live from the Melbourne CBD where we are recording a live podcast episode in celebration of the launch of the new Investing With She's On The Money book. As always, we are here to celebrate our community, but I'm joined with the gorgeous Jessica Ricci. Hello, hello. Hello. As you guys know, Friday is the perfect time to sit back with a bevy in hand to recap the week that was and chat about the highs, the lows. We're going to share some money wins and conversions. And we're going to talk

about everything that is happening, not in the finance world, but in my book, which we're really excited about. Let's get into it though. Obviously, we are going to be joined by a very special guest, Victoria Latu in the second half of this episode. But before we get there, how about Jess, we just catch up on the week that was. How's your week been? It's been pretty good. It's been pretty crazy. We were in Sydney two days ago doing this exact thing. Although when you're listening to this on the pod, it will have been a whole week from now because that's how things work in podcast land. They sound like they're all happening one after the other and sometimes we're lying, but that's okay. We are. And sometimes we edit out things we don't want you to hear.

Like the F-bombs. We don't swear, we are angels. I'm wearing white, you're wearing peach. That could not come out of our mouths. How have you been for the last six months? I feel like She's on the Money has been wild. You've had to put up with me finishing this book. You've had to put up with me dragging you arguably all across the world to do She's on the Money stuff. Are you dealing with it okay? I'm having a lot of fun. We just got back from the States. Anyone who follows us online would have seen lots of Disney content because that's where I had fun, not so much at the finance conference. Excuse me, she's not wrong, but I didn't think she'd say that on stage. That was actually our bargaining chip, right? So I was like, I really want to go to FinCon. It's a finance

content creators conference, which none of you are going to find interesting. I do though. And I said to Jess, let's go. She's like, oh, you know, there's so much happening at home. Maybe you just go and you make some new friends and I was like I don't really want to go alone like I know it's gonna suck but I want the information take you to Disney World and she was like I'm in so it worked we went to Disneyland we also were lucky enough to go to Disneyland in Paris earlier this year as well so I feel like it would only be fair for the people who are running the sponsorship for the Disney cruise to give you a free cruise so many people I'm really glad if I'm known for anything in this community. It's for being a Disney adult because I reckon about 50 people sent me the post

when that was announced, which is very, very fun. And that is my contribution, not the finance content. I hope you're not here for that because I don't know anything about it, but Disney I could talk about all day. Absolutely. All right. Well, I reckon it's time to get into our budget direct money wins and confessions of the week. What do you reckon, Jez? Sounds like a plan. Let's do it. Can I kick off the very first one? You can. Fantastic. I have a win. It is from our friend Kelsey who I believe is here tonight she says small money win I want to buy my daughter one of those personalized name blankets for her first birthday they're between 100 and 150 dollars depending on the design and my daughter is now going to be in a photo shoot for them because I

emailed them and we're going to get a gift voucher to spend at their store and she gets to keep all the images I feel like that's so wholesome like imagine wanting something and then being like not only do I get it my child is now the face of it or creepy either way depending on how you look at it. Kelsey the audacity you had to email them and be like my kid's cute give her a free blanket and you're through now marketing. If you are here Kelsey I'd really like to see a photo of the blanket because now I'm super curious. No I want to see the baby. What if the baby's on the blanket like her face? Why not both? Yeah I've got a win from Esther who said money win absolutely out of after my wisdom tooth removal. Saved $500 from what I was quoted. Absolutely out of my mind,

trying to pay, dribbling everywhere. What a money winner it was and how I needed to tell Victoria Devine. And when I wrote this one down, I was just really picturing Esther. I don't know if anyone's ever seen the videos of people post wisdom teeth removal when they're really high. If you haven't and you can't sleep tonight, Google it or put it on YouTube. It's actually the funniest thing I've ever seen. But the way she wrote it, I was just like, are you riding this like in the car on the way home particularly when she's like dribbling everywhere gotta tell Victoria Devine it was just I feel bad because I had my wisdom teeth out a couple of years ago and it doesn't matter that I'm now in my 30s I still called my mum and was like

hey mum I need to get my wisdom teeth out will you come with me and help me all four were impacted long story short had to go into hospital for it that's fine but I had mum pick me up after so she takes me home and if you know me I don't eat meat I demanded a big mac on the way home and I ate it so quickly that I didn't know I'd had it and asked mum for another one so 10 out of 10 if you have been is it anesthetized yeah you just do things you don't want people to see on the internet so I'm glad that I didn't get on my phone and all I did was get through Macca's drive-thru I have one it is from Nicole she says small but consistent money win here I locked in fuel cheap and I topped up my tank before it expired not a full tank but it's so much better to pay $1.51

per tank instead of $1.94 I nearly had a heart attack when I got off the plane and saw how expensive petrol was and we've spoken on the podcast before about how I am a very irresponsible driver in the sense that I will drive my car on empty for kilometers like I have had to call RACV three times because I ran out of petrol and my boyfriend twice who is here somewhere today hi James love you um so also sorry James yeah also sorry James but we got off the flight from Sydney and I had driven to the airport with no petrol and it's always more expensive at the airport anyway. And when we had left, I think it was like $1.45, $1.50, something like that. And we got off the plane and it was $1.97 and I wanted to cry. And I told her to fill up before she left. And

I get mad anxiety when Jess is like, I'll drive. I'm like, no, you will not. Absolutely not. All right. I have a very wholesome money win. Oh, no, I don't. That's yours. I have a wholesome money win from Rachel. Why are you trying to steal my stuff? And she said, money win. I stole it because I really really liked this one it says my super talented girlfriend is sewing me some cute outfits for falls festival instead of me spending heaps of money on new ones bonus win she uses mostly recycled and reclaimed fabrics from op shops so it's a win for the environment too and I was just imagining her coming up with like these really fun fancy outfits for falls because people wear really crazy cute fun festival things and drawing it up and then her girlfriend like

sewing away like Cinderella's little mice. And then in the morning, the outfits just waiting on the table. I made a whole narrative in my head for this. And I loved it. That's why she took it off me. Also, Cinderella's mice didn't consent to that. The flip story of this is like Rachel's girlfriend, did she consent to this? Or is she now up to like midnight every night when she's got a nine to five sewing these outfits that she doesn't even think of that cute. Slave labor. And that's that on being in love. All right. So my next money winner is from Melissa. I don't know if I've got a cool $30,000 that I can tip into this myself. But she said, I sold a car for $100,000 that I paid $30,000 for. As much as I'll miss it, it will be a heap of fun. I've already got another

Honda to buy that replaces it. And I already have two other cars as runarounds. Who needs two? Maybe Jess. Maybe she runs all of her cars out of petrol as well. She says, it's not really a recommendation, but I've been buying old Japanese cars and flipping them so I recommend other people do too and then get it valued because you can raise your insurance as well and no one's gonna like that but I did I just thought it was real fun that's a huge amount of money that's at what 70,000 I have absolutely no talent all I'm good at is like ripping my my rims apart when I go to park and like what are they made for if not telling me that I'm at the curb I don't know why they don't make them more sturdy because let's be honest everybody's done it and they're made of like

mine fell off once because I hit the curb. You were parking smartly. They fell off and they were like this thin and I was like why are these not made of like steel or something that's like a little sturdier. Honestly I'm convinced if they didn't want them to get scratched they'd be further set back so they are obviously in existence to make sure that I am a good parker. And she's gonna live by that statement my last money win is from Megan and she said we went to dinner on Friday night with my partner we decided to get gelato afterwards and the store was doing buy one get one free and that is my dream and that's why I picked it as my last money win because I feel like that's so good free ice cream you're like 10 out of 10 buy one get one free her favorite money

win wasn't going to Disney World on Victoria like what okay no worries it has as always been great celebrating some of your Budget Direct money wins. Budget Direct, winner of CanStar's insurer of the year 2020, two award Budget Direct insurance solved. We have some fun listener questions that people want to ask you because turns out everybody who's here is just as passionate as we are. So the first question that we have is how involved in my investing journey do I personally need to be? Very. Always? Is that it? Always. No, it's an interesting question because it really depends on what type of investment you're going to choose, right? And I talk about this on the podcast and recently we have done, have they come out yet? The passive investing episode. Is that

out? I don't know. One of them is. Yeah. Someone's nodding. It means it's out. You're better at my show than I am. Thank you. So we're doing like passive versus active investing. And I really, I actually just to sidestep for a second I cannot believe how excited and hungry our community are for investing content like I thought I would just explain the concepts and now people are emailing and they're like can you do a strategy like can you do an entire podcast on this particular you know asset class or can you do a particular podcast on the way you do xyz and it just it blows my mind because it makes me so damn proud because I'm like oh I know that because I'm a financial advisor but also I just didn't think people cared and I do so how involved you want

to be really depends on the strategy you adopt and the strategy that you adopt is going to be really based on your risk profile and I talk about this all the time on the podcast and all the time in real life my clients that are here tonight I'm sorry you've heard this all before but it goes back to your risk profile because investing can become really easy if you know what asset class works for you. So if you're a, you know, really balanced investor, you're going to maybe be less involved. Whereas if you're far more aggressive, you're probably going to want to be more involved because you're more invested in the share market. So it really depends. I would say at the very beginning, it pays to be very, very invested in your journey, in understanding you, in understanding

your money story, in understanding why you want to invest, because that's the thing that's going to keep you invested for the long term in making sure that you are, you know, putting yourself in the best possible position. But if you want to invest in direct shares, well, that's a far more active strategy than going and investing in an ETF. So I think it really depends on what you want to be. But if you want to be really hands off and you want to go put your money in one asset class and have it managed by someone else, like we talk about Six Park on the show all the time that's a robo advice platform where you just transfer your money they're going to do all of the hard work for you that's a money win if you don't want to be super super involved but you want

professional assistance whereas someone like me I'm going controlling and I love being a part of a passive strategy because I know that I can be quite impulsive but I'm really aware of that so I have what's called a core satellite approach where I have my core portfolio and that's quite passive and I have other people manage that because I can't be trusted and then I have this satellite of different shares that I personally am really excited in and I invest in and follow so I know that the risks I'm making there aren't impacting my future wealth but I can kind of employ both a passive and an active strategy that makes the most sense for us. Does that answer the question? Yeah absolutely in terms of being hands-off at what point do people look at advisors

as well because I feel like that's a chance for you to be relatively hands-off while still being involved because as you know advisors do have to keep in the loop they can't just do something without asking yeah I've been doing a lot of CPD this week and Jess is like why so it really depends to be honest I would say that it's not just passive when you go to a financial advisor I have clients on both ends of the spectrum I have clients in the light Victoria I trust you do whatever you want. And you know what? I actually don't like that. And I don't like it because as much as you trust me, and that is beautiful, thank you. I also want you to be completely aware of absolutely everything that you are involved in. I want you to be so understanding

of the market ebbs and flows. So when something does happen, you go, yes, because Victoria said it went A, B, C, and D. So in the establishment part, I would say active is really important, but yeah you can kind of leave it to the pros I would argue because financial advice can be cost prohibitive for a lot of people that it's really based on your values it is really based on how much you want to get out of your financial journey I mean a lot of us can do it ourselves and a lot of our community do and I absolutely support that but if you're really struggling with it or you've come into a really large sum of money or you know you've been investing for a few years and want to take it to a level that you just can't seem to grasp yourself, I think it would

be worth it. But you really do have to weigh up the costs of it. And if it's investment only, so if you want to go see a financial advisor, you can see them in a million different ways, right? So you could go see them just for insurance. And our friend Phil Thompson, who is he here tonight? Maybe he's here tonight. If he's not, that's kind of sucky. What a guy. Anyway, he is our insurance specialist for our community. And anytime someone has an insurance question, I'm like, look, go to Phil. He does it 24 seven. In fact, I've gotten to a point in my business where I send my clients to do insurance with him and then back to me for investment because that's what I'm best at. Or you could go see a financial advisor who does it all. And they are what's called a holistic

financial advisor. Or you could just go for investment advice. And it really depends on what you want as to how much it's going to cost. But if you're going just for investment advice, there's a plethora of different options out there there's robo advice there's you know diy platforms there's micro investing platforms there's you know managed funds there's so many options that you can engage in as an individual but when it comes to stuff like insurance and superannuation if i'm being brutally honest and some people aren't going to like me saying this when they listen to the pod because i think everyone in the community is going to understand i just don't think technology is at a point yet where insurance and superannuation can be done via an app or via a robo-advisor.

The algorithms don't take into control personal values, whereas with investment, personal values get decided before you choose your investment assets in the way that it's managed. So that can be automated, but it comes down to your will when it comes down to how much life insurance you want. As much as I could calculate it for you, Jess, it's not going to be perfect because I don't know what your thoughts and feelings and legacy are. And I don't think a robot understands that. So I guess I've gone on a little bit of a tangent because that's me and I love talking about this. But yeah, I just think it depends. I like that. It's a very good answer. The next question that we have is, is it worth micro-investing at the same time as having a

portfolio? And I thought this question was really interesting because if you're in micro-investing, do not inherently have a portfolio that exists. Yes. Would you micro-invest and proper invest at the same time? Yeah, I do. I have a spaceship account, which I know a lot of the people in our community have, which is, you know, it's all kind of looked after for me

and that's where I started. And then, like you said, I graduated to Sharesies and that's where I pick my individual stocks and my shares that I want to invest in. And I've kept them both partly because my spaceship is very in the red right now and it would not be a great time for me to sell that down in my opinion not personal advice but also just because it's kind of nice having something that just ticks away without a whole

lot of thought and you can have things like the auto invest or the roundup feature on that makes it really easy and those small amounts really add up over the long term so you don't even need me there's your answer it is true right like you don't have to just engage with one platform I would argue you need to weigh up the cost of investing in multiple platforms because with multiple platforms comes multiple fees. However, they all engage you in different ways. And most micro investing platforms have really low fees, but very high engagement levels. And I would say that with the high engagement levels, even though you're in the red, which at the moment, like we've talked about on the pod, guys, you know, we're in a bear market, we're 20% down. If your investment

portfolio is in the red that makes sense because the rest of the market is as well so if you're investing you're probably caring a little bit more about your micro investing platform because it's so accessible on your phone it's an app like you can just log in while you're on the train or the tram I do it in bed at night and like I put a candy crush and look at my investments it's real cool like hot girl shit I also watch tiktoks yeah yeah a lot of tiktoks as someone who has slept next to you many times in separate beds but many times I can confirm she does that and then when it's time to go to bed she puts on a nice soothing murder podcast I actually do and Jess had to tell me to turn it off the other night she was like

do we have to listen to murder you give me nightmares and I was like oh sorry sorry but murder podcast can recommend morbid the podcast if you want the really gory awful stories to go to bed with which I do not for the record let's talk about investment I think when it comes to micro-investing, as I said before, it keeps you engaged. Like I still micro-invest even though I have these other investment platforms and the fees aren't really my concern purely because I like how engaged with the platform I am. I like that I do the roundups and I feel like I save a lot more with it. I do get to a certain point on my micro-investing platforms and transfer it over because I'm cheap. And I don't want to get to the point where they

charge me more fees. So I chuck it into my bigger account. And then I kind of have these mini goals of getting to $1,000 or getting to $2,000, depending on which platform it is, as to when I transfer. And I'm kind of like, oh, how quickly can I get there? Like, what if I put $5 a day here instead of getting coffee? Like, I just play with it a little bit more. And I think that that's actually really positive in this space. And even if you're only micro-investing, I've heard so many people say, especially recently, they're like, oh, is it worth it? Like, I'm just micro-investing. I'm like, yes, you're exposing yourself to the market. Market exposure is not just good because it's you going and investing and getting a return, because obviously we're all investing so that we

can make use of compound interest, right? But it's not just about getting that compound interest, it's exposing you to the market so that when something happens, you're comfortable with it. And if it's $5 a day or $5 a week or $5 a month or even a dollar a month, because that's what you can afford at this point, I think that's really, really positive because in the future, one day you will invest more and you would have already experienced the ebbs and flows. And I think that there's just this really big misconception that when you start your investment journey, you really need to put in your life savings or put in so much money that it quote, makes sense. Like that's not the way investment works. I think small steps in the right direction are what we want to be doing

because it puts us in the best possible position. So would I do both? Yes, because I do, I suppose. I love that. And I can see us getting the eyes because we're getting close to time. But I have one more question that I wanted to ask you before we headed off, which is while we know that investments should generally be kept over the long term, again, not personal advice, but people want to know when it comes time to sell your portfolio, if it's the right time for you, what things do we need to be keeping in mind? Capital gains tax I think is really important and something that we forget we need to pay because we talk about tax in general and you think you've already paid it on the money that you you know put into the market but capital gains

tax is a tax you pay on the profit that you make so if you made a dollar and you are at a tax rate of 32 and a half percent you have to pay 32 and a half cents to the taxman when you pull that money out. For every dollar. For every single dollar. Not just 32 and a half cents. I said if you made one dollar, like I was just making it a really small example, Jessica. But I think it's really important to take that into consideration. But also remember, it does get complicated. Remember that losses can be carried forward. So if you've had a loss over a few years, you can carry those forward so that when you do have a capital gain, it kind of balances out. So the best thing you can do if you are planning on selling is talk to your accountant. And that is not nearly as

expensive as talking to a financial advisor, I promise, because you'll just say, what are the tax implications of me making this decision? And they'll say, $120, please, sir. And that is, yeah, a really good example of, you know, a good investment because you could go, I just want to sell it because I'm just not feeling it anymore. That's cool. But do you want to be up for a couple of thousand dollars completely unexpectedly? Probably not. The other thing I would take into consideration as buying and trading in really short periods of time because capital gains tax is taxed at your marginal tax rate. However, if you buy and sell within 12 months, so say you went and bought some Ethereum or Bitcoin a month ago, that was a stupid

thing to do. But let's pretend you didn't, it did really well and you were like, oh my gosh, Jess, I made so much money on crypto. And then you sold it, you actually have 50% capital gains tax because it's in a 12 month period instead of your marginal tax rate. So it's really important to remember time in the market, but also making sure that tax is taken into consideration because I've seen it in our community where people are like, oh, I did this and then I sold this and then it got to tax time and I owed so much and I just didn't, I don't get it. Why did I have this? And it's something that kind of creeps up on you so there are tax implications of investing but the important thing to remember there is actually that if you're paying tax you're making money

and we like that we like paying tax but we only like paying tax when it makes sense for us we don't like surprise tax so avoid surprise tax but keep paying your tax is that good advice I feel like it is and if it's not I'm sure ASIC will tell us otherwise do you know if i like breached my license we talk about this all the time that you know if influence is being held account to exactly the same standards as financial advisors and people like what does that mean guys that means five years in jail and a million dollars i don't have a million dollars nor do i have five years to waste in jail i could listen to a lot of murder podcasts i could probably make a lot of murder podcasts maybe it is a good idea i like some

Really good podcast guests in there. All right, we are getting... What? It would be a great idea from behind the bars. She's in jail. Great. I love it. All right, well, we're getting the eyes from the side of stage,

so we are going to take a very short 20-minute break. It is your time to get a glass of rosé because when we get back on stage, we are going to be having a glass of champagne with our very special guest. You guys can all grab a wine. We'll be back. I am very excited. I hope that you guys have all had time. She's taking a picture of my book, guys.

Should we smile for the photo? Oh my gosh, take it of me too. I hope you guys have all had time to pick up a rosé and obviously pick up a book. Well, I think that we will get straight back into it and introduce our special guest. Jessica, you've got the rap. Tell us about her.

Our guest is absolutely incredible. Her name is Victoria Latour. She is one of Australia's most influential fashion commentators and creators. After kicking off her media career in LA, which included a very fancy role at MTV, Victoria began her online platform, Talking Shop, which is a bold, modern lifestyle online brand for the millennial woman covering topics such as fashion, beauty, lifestyle, motherhood, and wellness. She's an advocate for diversity within the fashion industry and helps to promote confidence

in women across the nation through how they style and create their signature looks and she looks bomb tonight. She looks stunning. I thought I was fashion. I was like, I'm going to wear this white dress and just was like texting me, I'm going to wear the peach dress and I was like, so she's on the money. And this woman, she trumps us. So let's have a very warm welcome for Victoria Leto. Welcome to the show, Victoria. Thank you so much. You know, the thing about me is this is the first time I'm actually ever doing a podcast. And you're going to do it live? In front of 500 people. No pressure. No pressure at all. Well, thanks for joining us. We are genuinely so excited to have you. As always, whenever we have a special guest

on the show, we need to kick it off with a recent money win or a confession. What have you got for us? A money win. Okay. I actually invested in crypto and I won some money. Well, I say won because it was more like gambling than investing, but I'm so proud to say, were you bagging crypto yeah it was really I actually made some money not a lot but I actually did how quick did you sell it I held it for about eight months have fun with that capital gains tax I know when you were saying that but it wasn't a big amount of money so I don't think it doesn't matter but the fact is I made my money yeah money win 10 out of 10 we love making money so that was my big money win is that what we're doing that is perfect but I also have to say you're obviously with the

investing your risk take up and it makes sense because you go to bed listening to murder podcasts I'm actually a little bit sad that that's come out publicly like I don't think it's not public knowledge that I listen to murder podcasts but the fact that I go to sleep but it does adds to the creepy like it's just like oh that's how she switches off that's a different breed no that says a lot about your psyche because I am the complete opposite in when it comes to investing I'm like this is actually going to be fun so when you're going to ask me investing questions because I'm more like a mom and pop investor you know all this shit out the back I have made some good investments but in your outfit yeah no not really my I didn't feel like

no fashion is not a good place to actually invest but real estate is so I don't know I think you have to have a lot of risk taking abilities I don't even know the actual word for it to actually go into shares and stuff am I wrong yes and no yes and no it's kind of like a spectrum there are like safer shares and more risky shares and it just really depends on what your risk profile is okay that's already risky. Before we get into all the fun investing stuff Victoria I'd love for you to tell us a little bit more about you and what you do because I think you have such a fun background and I want everyone else to know a little bit more about it. Okay I was thinking about this because it's so I'm essentially what people call a slashy which is what my generation is known for

doing multiple things bottom line is I am a fashion editor so I do a bit of styling still I do you know style expert I do commentary on style but for channel 10 and studio 10 I essentially edit fashion and I think anybody on Instagram or somebody that works on social media with any sort of platform you kind of have your own publication so since I work in style and I do work on Instagram and with my social media presence as well as television and media I do kind of feel I edit a publication and I treat it like that because I have pillars of content so if you come to my page today if you go on there you'll see me strutting in a leopard outfit so that's my editorial you're just there for the looks of fashion some days you come on and I tell

you how to style so I teach you about trends and what's trending or how to style a particular piece other times I take you shopping with me and I think people actually love that one because I do affordable brands and I think most people don't actually like going into store and digging and seeping through all those things so they would rather watch somebody trying on all that stuff so those are my different pillars and sometimes they're throwing kids but you know they're very hard to wrangle so very few and far between basically so you're a woman that does it all she also used to work for mtv like are you kidding i know what you're about to do she's about to downplay working for mtv that is kind of what

i used to put on my resume to actually get more jobs i was what you call a glorified intern really waiting dude does anybody remember mtv trl or my kind i'm still in my 30s i'm not that old yeah so that and channel v were the only things available at that time apart from channel 10 channel 7 and channel 9 so if you actually ever thought of working in the media and i know you work at 10 now but mtv and channel v were the only places you could imagine me 15 years ago now everything's changed but yeah I kind of was I tried out you know maybe I was on air like six times I was a glorified intern but I tell everybody I got my start on MTV TRL I think you absolutely should tell everybody that because it's the truth don't downplay that

a little bit of the truth all right so your relationship with your career history not as positive as maybe your current relationship with money which I want to know about tell us what's your current relationship with money about um I would say I have a good relationship with money because like with every relationship oh my god I'm gonna start I'm sounding like every time I grab a microphone I start sounding like Oprah because obviously I I was raised at that time where you got her advice no I think every relationship with money with food with clothes whatever is kind of directly reflected on the relationship you have with yourself which is the most important relationship basically so how much are you willing to back yourself support yourself

be there for yourself so I think I've had a few things go on with my life and I think I have a good relationship with myself like I trust myself I know like I'm not perfect by any means but I'll always back myself so in that sense I trust myself more with money if you know what like does that make sense what does that look like though like in your day-to-day life what does trusting yourself more with money look like I know myself very much I know I'm I don't go to bed listening to murder podcasts so I am very risk adverse I'm kind of a boring we can just do true crime like no one dies I love it because it says a lot about a person I'm like completely the opposite I need something soothing and calming and my investments need to be small. I don't care if I don't make a

big win. Like some people would be like, I'm going to put down a lot of money because I'm going to take a chance at making a big amount back. Now, say I had $20,000 to my name, I would rather invest $2,000. My rule of thumb, never invest more than you can afford to lose. And what you think you can afford to lose is obviously different for everybody so for me even if I had twenty thousand dollars I would personally not want to lose more than let's say four okay four not two four but yeah you're actually like using this example and you're like hold up gotta make it real because I'm very yeah so I make small steps but you were talking about small steps you encourage that so that's kind of how I am so I listen to like classical music before bed and I know

she's gonna grow up well balanced you know just to like really calm down and that's literally how I invest slowly and but surely basically I'm so glad I have a podcast because otherwise I would have been a serial killer so good talking about investing you mentioned crypto before which is very fun are you investing in anything else and if you are what does that look like for you just property I am investing I think it might be maybe because I'm a child of immigrants and I think when we came here the biggest thing you could do was buy a piece of property to stake some ownership and like I think my parents instilled that on me so I started investing in property really young it's just that now with the way the market is it's kind of it did pay off although I haven't

said that a few years ago I did buy a property that was a complete waste of my time so it's not always a win if you go the property route basically so you lose some you win some that's what my investing looks like property how did you decide property because you said before your child of immigrants was that always in your financial future because I feel like immigrants obviously coming to Australia that's really challenging and I think a lot of them think maybe property is a pipe dream exactly like it's the thing that we want exactly but did you ever think that that would be you to be honest I have to say this is completely my mother so she did everything and I remember the only reason I actually could afford to buy a property back then is I did a panting I

know I pull my hair back but I did a panting commercial I think 15 years ago that is a flex and that's how they used to pay you big money and by big money I mean like I think they paid me 15 grand for that camp I know that's big money yes I can hear someone in the background going wow do you think I could be a Pantene commercial I would do anything for 15 grand no you don't understand I actually thought I had died I had never seen and I was so young well since I am 18 now it's probably three then and so I honestly thought oh my god I had never seen that much money in my life and instantly my mum's like no way this is gonna go down the crapper so I got the first homeowner's grant and with that and then I could buy something that was like a

tiny property I think I bought it for almost it wasn't even 300,000 but that was a substantial kind of deposit and literally no shit that set me up for everything you could leverage the equity going exactly that you know I'm hopeful that with my kids we can do that I don't even think it's possible anymore the way real estate is going but that genuinely gave me such a boost and even the way I feel about myself having that kind of you know equity kind of thing asset just gives you having I just think as a woman having some cash behind you does for sure change the way you feel and carry yourself it gives you some extra confidence for sure I am the world's biggest advocate for an emergency fund have you always had one no great

I'm not gonna lie to emergency funds that is a different because I would honestly save some cash and then I'm going to be like oh my god I love this Cartier bracelet you know and then but speaking of luxury fashion, Cartier bracelets actually increase in value every single year. If you bought a Chanel bag five to ten years ago as well. I have a problem with Chanel.

Sorry, the sound. I don't. I will take whatever you've got. I saw that on your Instagram. I just, I don't know. Something about Chanel, I don't know what it is. It's just, that's the only thing I don't,

I don't know why. I've tried to like see a therapist and I'm not even joking. you've tried to see a therapist because you've got a vendetta against Chanel no no no seriously I just can't bring myself to spend eleven thousand dollars on a classic and I have spent money on luxury I don't even seriously if you follow me you know I've burned some serious cash but I can't do it on Chanel isn't that so interesting I came to my own show to be attacked i bought one chanel one one i love it it was so cute and i bought it a few years ago and i bought

it second hand i will have you know it is now worth more than what i paid for it because i saw that photo and i was like oh no we're gonna talk about i swear to god i saw on your instagram together i'm like oh she likes chanel shit and she's judging me because of the murder podcast but she needed therapy because of the chanel i just okay okay why okay i'm just not being attacked because I can't afford it so what about your emergency fund no oh yeah but it's not in Chanel bags okay last thing about Chanel though no joke this is how crazy we can keep talking about it because it's ridiculous five years ago the Chanel bag cost six thousand five hundred dollars it costs eleven thousand dollars today that's a good investment so and that's when you

think about it you're like oh still no okay okay so so I get from an investment perspective and I'm not here defending the Chanel but what I am saying is I actually I get a little bit ick when people justify fashion like purchases like a handbag or something along those lines when they say oh but it's an investment because if I'm buying something I'm buying it to use it and therefore if I use it's probably gonna get broken because it's me and I just I go is that actually an investment so as a fashion editor as somebody who works in that space would you classify fashion as an investment I think you can invest your money better honestly but it brings me so much joy that I think it's a bit of invest in my personal care and self-care but I do think some items

I wouldn't encourage that you go this way I'm sure the better place is to put five thousand dollars and smarter ways of using it but I do have to say I'm a big jewelry person or maybe again I've like spoken to myself about it and convinced myself about this yourself or your therapist myself but again I like good jewelry and I feel like jewelry could be handed down like to kids to your children for generations and again if I actually ever wanted to sell one of my Cartier bracelets I would get the exact same amount of money back for them maybe give or take a few hundred dollars because I take care of them you know what I mean I'm one of those people that I would prefer to kind of save up and buy a good piece rather than buying many crappy little pieces

do you know what I find really interesting when it comes to jewelry this is so far off the topic of investing. I'm very sorry. This is not in the script. We've just gone rogue. No, we can stay rogue. We do what we want. I find it really interesting how you said that you can buy a beautiful piece and you can wear it all the time and you can pass it down. And that's a really common thought with jewellery. And I think it's super interesting that we don't feel that way about our clothes and the element of fast fashion that comes into that. Because if you buy a beautiful piece of clothing, you could do the same thing. Theoretically, you could wear it all the time and you could pass it down to your children.

I'm not that rich no I just cotton is cotton silk silk like again maybe another thing I need to discuss with my therapist but no you can't convince me of that because I just feel how much better is your valour than I understand the craftsmanship right but sometime I think it's it's about a 700% increase on what it really is and essentially you are just paying to wear the label do you know what I mean I totally know what you mean and if you can and it brings you joy do it but don't get into debt trying to change you know what I'm saying if you can afford it why not like if it's not gonna do anything bad to your money situation do it but it's not something that you should chase thinking it's going to change your life and make you feel better about

yourself it's maybe an addiction when you actually do it but it's not I mean there's an overlaying conversation about ethics and how it's sourced and all of that and we could go on and on about that but I want to put that part of the conversation to the side for now and ask you a little bit before we get back on track a little bit about the fashion investment pieces you think we should be getting right because there are some things that you go you should spend money on Chanel and there are some things that you shouldn't spend money on like if you were constructing a wardrobe and you were like you know what I need a basic white t-shirt are those the things I should splurge on or should I be getting the cheap white t-shirts and going with the expensive jeans like where

should I be channeling my money because I need this advice okay so I'm a big proponent of people having a curated wardrobe or at least having a capsule specifically for you and I know people go a capsule wardrobe and everybody's supposed to have the same thing not true because a capsule wardrobe means you have an essential pieces in your wardrobe essential to your life so your capsule wardrobe will be different from mine different from somebody that's a stay-at-home mom different from somebody that works corporate you know we all need the essentials in those wardrobes will all be very different right but I do feel if there is an item of clothing that you consistently wear every day for example say you wear a white shirt right I'm not saying go spend thousands of dollars

on a white shirt but do get a good quality one because going and buying it cheaply washing it a couple of times you're going to have to repurchase sometimes when you buy something cheap you're going to have to I don't like saying cheap I like saying less than expensive it sounds better if you buy something less than expensive you have to really think about what it is because if you have to keep repurchasing it it doesn't make any sense do you understand so if there's an like if you are wearing a leather jacket every single day then buy a good one you know that actually says vegan leather is another thing but let's not go there that's the best marketing vegan leather it is vinyl it's plastic it's vinyl it's plastic it's vinyl I've looked into this like why do we call

it vinyl but that's a good marketing spin but let's not you know invest have you seen the vegan silk recently yeah what is it I was trying to find something on I think it was a door beauty the other day and I was like in the beauty sleep section because I was looking for like a new eye mask for travel long story short I could go on about this all day and they were like vegan silk like pillowcases and I was like Jesus $90 no it's like just satin like that's that's a four dollar pillowcase like no absolutely not marketing has gotten so good anyway we digress because we can go I'm gonna shift us back on track for the benefit of everybody listening hold on hold on so if I wear it every day you can invest in it yeah I could wear a Chanel to the office

we've spoken about investing in houses and crypto and fashion but something we talk about a lot as well is investing in yourself and I want to ask you what is the best investment that you feel like you've ever made in yourself that isn't necessarily you know a monetary share oh my god I'm watching Oprah all the time I was growing up no that was a good investment everybody gets a car but not really we don't have but not really I was a joke please don't come for me I can't afford it best investment in myself I kind of there was a stage in my life where I went not anymore maybe I should go back to seeing the therapist obviously I still have unresolved issues don't I it sounds like it with Chanel for sure for sure I think I think we both need to work on that because it

turns out I do too to be honest I think the most oh this is going to sound so trite but yoga oh my god I'm one of those people no this is good I swear to you I'm not a very physically I don't love to exercise but I love hot yoga right and I think when I was actually kind of looking for ways to get fit and get calm and meditate medicated meditated oh I just got medicated yeah that was a really because you're so tired and bent out when you come out that you're like you feel completely zen and it's almost because you're barely hanging on to life but that worked for me and I think that physical that investing in self oh my god I'm sounding like a podcaster he does one podcast one time for my first podcast is it am I I'm not gonna lie there's nothing I

could think of that is worse than hot yoga that sounds terrible really I have been once and they were like oh welcome rah rah this is gonna be like I think it's like a 90 minute session right to do it is a night and I like walk in and I just think I'm hot shit because I'm so good at yoga at this point in my life and I'm like great so I get on my mat and I've got my water and I'm wearing like shorts because it was going to be hot and they're like you know what just take it slowly it's very different to normal yoga I had so many tickets I was like it's fine it's fine it'll be all good and they were like yeah just lay down if you're feeling a little bit dizzy and I was like okay no worries and like 85 minutes of that 90 session like I sat on the floor and I was so

embarrassed that I made everybody leave before I got up and left I was like I'm not seeing them in the locker area that I'm never coming back but I think there is something to that because I think the fact that your spirit is actually leaving your body actually makes you feel like some weight off your shoulders it's my spirit I did not feel meditated after that no but that's the only and I think actually investing in that and kind of investing in time to do that actually was for a period of my in my life was actually very helpful to me but generally I always feel women especially should take time to find what is that thing that could help them feel healthy thing feel better about themselves just you know

I don't like saying you know and I don't want it to be like a face mask and a hair thing because that's topical you can do that but something you know from the inside physical fitness meditation and I feel like that's different for everybody I think when I was a bit younger and this is why I went to hot yoga because everybody else was doing it and I was like oh my gosh I want to be like those Instagram girls that have Chanel bags and go to hot yoga and I got halfway there with one Chanel bag and one session of hot yoga however I think it is really different for everybody but I'm consistently still looking at other people and being like oh Jess winds down like this oh Victoria winds down like that maybe I should try it I think I need to you know this is a good

reminder to look a little bit further inside and be like well what works for me because you know Jess and I this year have probably had our busiest year and like we are so grateful for it we're so excited about it but what I learned this year it's so lame is that sometimes switching off for me isn't actually about going and doing Pilates with my girlfriends and getting a coffee. It's actually spending an extra hour in bed in the morning, scrolling on TikTok, because I feel like I've completely switched off and I'm okay with that now. Whereas before I think I would look at it and be like, I'm wasting so much time, but I'd be like, oh, but I spent this hour just doing something mindless and kind of disconnecting from my responsibilities and my inbox and my social

media and I feel like all of that can be all consuming so as much as it's nice to do really bougie things which are so fun do not get me wrong that is not bougie it sounds like something rich mums do if you live in Tora can drive a Range Rover oh yeah when I drop the kids off I've got Bikram at 10 no I actually did Bikram at 6 30 when my husband gets home I used to love doing the tiktok thing but do you think that actually kind of you do you have a different psyche obviously we've just discussed that that actually winds me up watching tiktok like i try to do it winds you up winds me up i get into all this comedy things and i just kind of like can't sleep can't relax i get into the side of tiktok which has murder like true crime people there was that

TikTok thing recently was it recently was like a year ago where they found a body in a suitcase and I was one of the ones to see the first video and I thought it was a hoax but it wasn't they actually did and this is what I had to sleep listening to while we were on this is where we're at Jess and I are very different what side of TikTok are you on Jess the side that my boyfriend will show me on Instagram reels three weeks later hey babe look at this cool video I just Found it all by myself. Actually, we need to be nice. James is here. Sorry, sorry. I want to know, you mentioned before that you have kids, which is very lucky, but I want to know where she's on the money. How are you teaching them

about money in 2022? I am not, but I'm about to start. We have this thing going. So every birthday or every Christmas, they usually get some cash from the grandparents. So we have opened an account. Can I say a bank? Are you sponsored by somebody? No, you can say whatever you want. Even if we are sponsored, like, we don't have, like, non-competes. Just in case, you know, just in case you wanted me to say specific bank, because it doesn't matter. The Bank of Victoria. We'll drop in Victoria, the other Victoria's voice over yours.

Influencer by trade. Jess is our partnerships manager in every contract. She's like, you cannot gatekeep us. Like, we will talk about whatever we want, otherwise go away. That was a good opportunity. But anyway, you lost that. You set me up and I let it go. Okay, so we've set up something with ComBank.

it's I think somebody was telling me there's an actual program that compounds the interest that over time which I think is absolutely amazing so we kind of initially started with depositing some money we haven't if I'm being honest we haven't continued because we would have to go to the bank and deposit with you but we did start so there is about 50 bucks in one and I think 35 in the other. So they're going to be rich. Loaded. I know my mom helped me buy a property and I'm like 35 bucks for you, 50 for you. Kids going far. Gee, I hope my husband starts to listen to this. Yeah. So, but that's kind of what we've actually started doing, but they're also six and four. So you can't really teach them. I think maybe in a year or two, I'm going to start,

you know spending money now okay one really enjoyed that we all know it's okay i can't see is that the soft bully cake okay yeah she's my business partner if you guys hear her on the podcast she's kate mortgage broker she runs ella money she won't for long and with this attitude no i think in a couple of years we'll teach them about because now it's just christmas every day mom i want this you'd never actually want to go anywhere with them because they don't get it there's no concept of that at the moment, but I think maybe in two, three years, my daughter is going to start understanding that if she spends her 50 bucks that she got for Christmas, she's not going to have any money to buy that extra Barbie or that, you know, cause it's gone, you

know. I didn't learn that until I left home. Oh, I was a bit the same actually. Like my parents did a lot to try and educate me around finances, but I was not having it. That was not cool. caring about money not cool I had no choice because we had like obviously as I said I actually came here from I'm half Russian sorry Ukrainian I was Russian six months ago now I'm half Ukrainian because obviously the war I was born in Odessa and my father's Nigerian so I kind of have lived in both those places and when we came here the education about money I got was actually watching people work really hard for money so it was kind of innate it just happened I saw it it wasn't ever going to be wasted I don't know if I learned that well because I still kind of waste money if you

think about it my mum thinks I'm the worst she's like you spent what like or you did that you know she can't wrap her head around it but yeah I think it's what you grow it's so funny what you get some people in my that would have had that kind of upbringing would probably you know save a lot of money and kind of be a bit more stringent, but not Victoria. She's a Libra. She goes from one side to the other. We're saving, then we're blowing it. We're saving, then we're blowing it. You know, the balance. Well, Victoria, the cancer is a do what she says, not what she does kind of gal. Thanks for outing the Chanel, by the way. That was like the biggest purchase I ever made. And do you know what? I would like to just back this up. You've got to make your money back

in a couple of years. I don't want to make my money back. I want to keep my back. I'm telling you if everything's burning down run out of the house with that bag you're still gonna be seriously you're gonna have your money and I just want to know how high it can get like literally how much money are you gonna pay for a bag with four sides of leather like I don't know because I'm on the side of TikTok I don't know if anybody else is on this side I don't know how I got there because I can't afford it but I'm on Birkin TikTok I don't know no no no no no you're on Birkin oh no you will accept a $40,000 Birkin I'm already ready for it I don't know there's The thing with Chanel, I have to go regressive therapy.

All right, all right. Why is the Birkin okay then? It's just so cute. I just don't understand the concept of having to like buy heaps of stuff from a... No, they lie to you. I think they're like, not everybody has to do that. Oh, you would just get a Birkin? No, not me.

She's one of those. I'm not there yet, but I'll tell you in a year. but sometimes sometimes you just walk in and like somebody sees you like the MS gods are like okay we'll give her one kind of thing and you just walk out and some other people I don't even want to get into this because this is a whole story where this person she's like somebody on TikTok like literally had to get HR involved she was having a mental breakdown because nobody got her her MS bag I mean like how much time do you have on your hands like real I mean she has children as well She was crying and having, like, this anxiety attack.

A full breakdown over a handbag. Full breakdown. Anyway. If you took my Chanel, I would have a full breakdown. I wouldn't do that to you, darling. No, because you don't want it. Jess, though, you'd take a Chanel. Oh, yeah.

If the house was burning down, I'd take the Chanel and they'd probably leave you. Do you know what? I think that's a great place to leave it, Miss Jessica Ricci. What do you reckon? And should we wrap up this show? Because I actually want to get out there and meet all of you. Come join us on Instagram.

Follow Victoria on Instagram. I want to say another special thank you to you. You are an absolute delight and arguably my new best friend. So I'm very excited about it. Fashion friend. Yeah, we are. We walked in and I was like, is that it? And she was like, yep.

And I was like, oh. Anyway, thank you. Also, thank you to our gorgeous interpreters who have made this event super, super special. a massive thank you to the people who trusted me right not one but two books penguin random house and to fane for putting these events on for us who would have thought thank you for coming we hope you had a good time and you guys will get to maybe hear your laughs definitely you kate on the podcast in a couple of weeks so have a fantastic night and we'll see you all out there Thank you for watching!