She's On The Money - FRIDAY DRINKS: Valentine wants to buy a jetski

Episode Date: January 7, 2021

New Year, New Format. Kinda catchy, no? 2021 is HERE team (and so is season four of the pod!), which means we've all got a brand spanking new way of bringing SOTM to life (three times!) each week… Join us every Friday as we reflect on the week that was, chat community money stories and share our fav money tips to help you sail right through to the weekend.Joining you for the wrap this week you’ve got Victoria Devine, Ryan Jon and the very shiny, very bright and very new to the SOTM team 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, the podcast for millennials who want financial freedom. My name is Victoria Devine. I am a millennial. I'm a financial advisor and I am wildly passionate about financial literacy. and today on the show i'm joined again this week by ryan john and jessica our fellow she's on the

money team members and this week we are talking money wins we are talking the community and we are talking about goals which we spoke about on our podcast this week yep and i think within what half an hour of posting that how many comments did we get with people sharing their goals of people being like this is my goal and i'm so proud of you all but my gosh you overwhelm me with your generosity when it comes to sharing in this group it is actually crazy jess and ryan of that thread did you have a favorite goal that someone had shared i sure do my favorite goal was from valentine and valentine said in addition to wanting to save she wanted to buy a jet ski and i am all on board that train i think that's amazing i'm glad you've picked a really like momentous money win there or

a goal you know what it's in line with your values friends get your jet ski love imagine saving up for a jet ski and the satisfaction you would feel the first time you like put it into the water and you're like yep i save for this oh my gosh but if you put it into the water anywhere near the beach that my parents go to they'll yell at you from the beach about being too close to the foreshore and that's definitely not so many yards out does your dad wave his fist oh he probably does like he's always like oh they're so territorial like they shouldn't be anywhere near the water they're a jet ski where should they be in the water but i think there's a bit of a stereotype going around about jet ski as being a hoon, you could say.

What was her name again? Valentine. Sorry, Valentine. Valentine sounds too classy to be a hoon. Can you just let us know, Valentine, if, A, you're a hoon who's been yelled at by Victoria's dad, and also just keep us updated throughout the year because I'd love nothing more than towards the back end of the year.

Will you come to the beach with us? We'll have a beach party and go on Valentine's jet ski. We'll see a photo of her on a jet ski. What an absolute legend. I love that. Ryan, what have you got? Ruby Rose says, this is the first year that my husband and I have both had an income.

So we've got two full incomes for the first time ever. And our goal is to continue living off just one of them and completely save the entire second income. Okay, so that's epic. And I love that goal. And that is so about living within your means and making sure that you don't experience lifestyle creep. That is awesome.

Well, I think the fact that they've proved to themselves that they've already done it. We've lived off one wage. We know we can live off one wage. We can do it. It seems realistic. But I was actually going to ask you, V, how many people do you think when they have more money coming in going yep that extra 20 grand or

this extra whole wage is going here but then it doesn't happen oh it hardly ever happens and it's because we all have the best intentions but we don't have a plan in place to actually get that done and the way to do that would be to make sure that whatever money is coming in goes straight to a savings account and you automate that because if you don't you're set up for failure all right that's good advice v your favorite one okay mine's definitely not as impactful as yours is probably more on the same page as Jess, but because it's dog related, I would argue it's better. Lily says

she has the goal of buying a house. Fantastic, but she also wants to buy a Cavoodle. One of my friends has one of those and they are the cutest, sweetest little dogs. They look like little teddy bears. Gorgeous. Which dog is your dog again? Is that a Cavoodle? No, not a Cavoodle. It sounds so lame. I always say she's an old English sheepdog cross poodle

because it sounds much less lame than saying, my dog Lucy's a sheepadoodle. That's terrible. Farah, are you, and like obviously anyone that's been anywhere near Instagram over the last month has seen it. It's just dog, dog, dog, dog, cat, cat, dog, dog, dog. That's pretty much my Instagram at the moment.

I'm sorry, guys. And her Instagram as well. She has one, at Lucy, the golden sheep-a-doodle. She does. Jess now manages our socials and Lucy's. Hang on. So Jess, who is on the books that she's on the money, is spending her paid time to manage your dog's Instagram?

I didn't say that I was a good manager. I absolutely would say you are. I love my dog. Look, I'm glad, but that's because she manages my dog's social account. So is she saving up for the dog? Because dogs can actually be expensive, right? Yeah. And these crossbreeds are, yeah, Cavoodles can be so expensive.

Like several thousand dollars. Exactly. Like I've got friends and I think family who have spent more than $5,000 on these dogs. Insane. So I judge them with my dog BJ because I think we paid $80 for him to some farmer that found him out the back. But BJ's a legend. I love him. I was like, look at these guys, BJ.

They're kidding themselves. You're a real man. You're a rescue. Yeah, hold on, hold on. Your rescue sleeps on the bed, on the couch, is a sook when it goes outside. Look, please. He's a former farm dog. He's now a pathetic inner city metro dog.

He's a reformed farm dog. Yeah. We do joke when Bridget, my wife and I. I like how you keep dropping my wife, Bridget, all this week. My wife's one that's a reference. Literally everything that we've done. Yeah, she absolutely is. But everyone knows who Bridget is.

We love Bridget. we all know you got married last week there's three people in our house Bridget myself and the dog BJ and I often team up on Bridget so it's like two versus one and I always say we're team rescue you can't say that you can't say that every time she says something those of you playing along at home Ryan why would you both be team rescue well I was also like BJ adopted when I was quite young and so anytime if anyone doesn't know that that's why that's funny like morbidly funny well and any time bridget acts on you're like no she would act like that bj she doesn't understand our life you're so dramatic i don't know if i could deal with you um well i'm glad glad bridget puts

up with it yeah excellent so am i she's married to me for life let's move along to we've gone through some of our favorites and please continue to leave your goals for 2021 because i think it might be fun to later in the year go back find this post and we can go through all the goals and see if we achieved ours and if everyone in the group achieved theirs as well because it'd be good to come back to but our three goals uh let's start with you victoria divine what are your money goals for 2021 in an earlier episode this week i announced finally that i have achieved my biggest financial goal to date and that is purchasing my first home with my partner steve congratulations thank you and we are honestly so so so excited um and we've had a number of we're

really good at talking about finance which i don't think is going to surprise anybody listening um but our financial goal is to be able to save enough to you know change the bathrooms and change the kitchen because when we bought the house it definitely isn't what we wanted it to be but we want to do all of that debt free and not go into any more debt because obviously we didn't buy a house outright we do now have a mortgage which is terrifying um seeing how much debt you're in but i know that it's a good investment so it's okay but we want to be able to you know add a kitchen add bathrooms and you know do up the house because it is a 1940s house with an extension on the back that you know has a lot left to be fixed up and changed and like it's going to be really

fun it might be a really slow process but i think it'll be really nice knowing that we're not in any more debt for it so that's the plan this year so if people actually want to see the house they can there's a house tour on victoria divine's youtube channel yes we did that together which is really fun all three of us all three of us were at my house the day after i got the keys and had started moving in yeah first thing we put in there take a guess anybody the christmas tree yeah of course the christmas tree is up even though nothing else is and i had my shoes and my plants i didn't need anything else now we talk about this as we're doing the house tour but for people that haven't seen it i'll just ask you again now for our podcast listeners your and your

partner steve's balance between getting a house in the area you wanted versus getting a you know inverted commas completed finished how you would like it to be how so how did you juggle that balance yeah that was a hard one because obviously when you have a budget everything over and above your budget is really attractive like you see it and you're like oh that was three hundred thousand dollars less that'd be perfect it's like you're absolutely dreaming victoria so to be honest we got really really lucky and we didn't think that we'd be able to afford to buy the house that we did end up buying I say house we've literally bought a house when we didn't even think that that was going to be a reality for us and I'm really open with our goals but we thought we

would maybe buy you know a two-bedroom unit or a three-bedroom unit if we could afford it and I think we got really lucky during COVID when we're in super lockdown and literally purchased the week after lockdown came back and I was working with one of my girlfriends and also an incredibly good buyer's advocate Amy Lenardi who found this house for us off market and essentially the family who owned it had already left the country and needed to get rid of it ASAP so we had to move super quickly it was definitely a do as I say not as I do kind of moment because it is not a process or the process we went through was not something I would recommend to others just because there was a fair bit of risk involved given how quick we needed to move on it but we did end up getting

what i would say is definitely my dream house at this point in my life you know we've bought a three-bedroom house with heaps of space i've got a backyard i was able to get a dog which you guys probably would have seen really nice area as well really beautiful area and we just feel very very grateful being in that position yeah but you are as we're saying it's probably not finished you're going to spend a bit of time on it actually i'll get not finished just what would you how would you describe the splash back in the kitchen red it's a lot it's very red it's a lot of red i don't know that's not even the highlight of the house i would argue the false ceilings in the bathrooms made of tin like literal like not even tiles just tin that was a really dodgy diy effort yeah like

we've got these big beautiful old 1940 ceilings and they decided to cut them down to about seven foot so and just have this weird gap in between this weird gap in between and like remove all of the lighting and oh my gosh it's horrendous but if you watch the video you'll know exactly what we're talking about check out the video it is great fun and i think that's a great goal to renovate a house without going into more debt is a big goal but i'm actually excited to watch it happen and everyone else it'll be so fun and i think yeah we're going to document the entire thing via youtube because once we've saved up enough for a bathroom we'll do the reno of that bathroom and we'll share the journey with you I really want to be able to share like the budgets

associated with that because at the moment I'm saying I have the goal of this but I actually can't tell you what that goal is financially right now because I don't know what a bathroom costs so the next month or so my partner and I are getting quotes for bathrooms and kitchens and you know we'd love some new flooring and just we're going through all of that process at the moment to work out all right what's reasonable to pay for a bathroom how does that work I didn't actually realize how expensive it was to move plumbing around the house when you were saying i might put the bathroom over there i was like okay no i'm not um so we're gonna have to maybe realign my expectations but i think it'll be really interesting just to get these quotes and

understand how much these things are and then prioritize what parts of the house we're going to do first and then jess ryan and i and some videographers that are going to work with us we're going to document the entire process and i just think it'll be really fun yeah i agree i'm very much looking forward to it seeing how it's actually like she's on the money but it's she's on the block guys jess welcome to the team first of all thank you uh what are your money goals for 2021 besides landing this new sweet job well kind of in line with that and a little bit embarrassingly having formerly been a community member and now obviously being an employee um i don't have an actual budget so i have been using up bank love it um and savers she's a proper she's on the money

i am one of you so i have been using up bank it's kind of like i designate what i have like my groceries for the fortnight or whatever that might be however i've never actually looked at my cash flow and gone okay like this is what's coming in this is what's going out this is what plausibly i could put towards my bigger financial goal which is a house deposit imagine if your boss was a financial advisor who knew your salary talk openly about that how good uh weird one do you have the budgeting and cash flow masterclass victoria kindly gifted me access i was gonna say we'll take it out of your pay not a chance but that's actually one of our employee benefits here at she's on the money we don't we don't have many we do have an office dog and uh free access to

the budget cash flow masterclass all about it though like you showed me that um spreadsheet And firstly, you can do things with an Excel spreadsheet that I know are possible. Victoria Devine, great in the sheets. That's what I've always heard. Wow. Hey, did I say that right? You heard it here first.

Okay, moving. What were you saying, Jess? No, I just basically want to get my life together. And now that I have access to like this next level with Bangsheet, put everything in, see what I actually can save and hopefully smash my house deposit. I'm very excited for you to set that up.

Can't wait for you to keep me accountable every week. Is that Uber Eats for New Desk? What about your house deposit? I'm sorry. I'm pretty sure I pay for your Uber Eats, but whatever. All right, moving on. Ryan, John, what are your financial goals this year? Well, Bridget and I own a house together.

Ooh, real commitment. Yeah, but we move for work. So we live in Melbourne in the Grampian. So we're in Victoria now, but our house isn't in Victoria. So we've got renters in there at the moment, which is great, but we want to get that, I don't know if you like the term forever home, but you know that really like we want to sit down and have kids here and really not have to move again for a really long time so we're starting to look at where like what suburbs or what area

that might be and so and and obviously saving for that so i think that might be considering the price of property in melbourne at the moment probably might be in adelaide how far out of melbourne uh adelaide uh it'll probably be sort of two years really expensive now i've heard yeah I think so because it's like a little bit bougie now like Adelaide's the place to be I've heard everywhere goes up in price except for where I own the houses but yeah we're probably in two years want to have that family forever home so as we were discussing on the episode on Wednesday and earlier maybe us just breaking that down to a month by month just kind of go how much do we need to save per month so that in two years time we'll have enough for a big juicy deposit so I

think that's sort of where we're at that's actually really exciting and I can't wait for you guys to do that yeah and i'm really jealous because people don't know this about us but a lot of the time we spent this year keeping each other sane was looking on realestate.com.au at houses for each other and now that you've bought one it's sort of like oh well we can't really look now it's not as fun yeah and i think that was actually so fun because we'd send each other like ridiculous houses i think you found me one like way out it was in ballarat yeah it was in ballarat it was 3.8 million i was like what about this just for a weekender i was like yeah of course uh i can't afford a third of that but no it was really fun and i think we need to take shares out in

realestate.com.au absolutely now we are going to do things a little bit differently we're still if people want to post their money wins in the group they're more than welcome but jess what are we doing every week because we kind of want to clump them together right we want more clarity in the facebook group we do it's hard yeah we've been listening we love when you give us feedback and we know that some people were finding it really hard to find the specific things that they were looking for and the really great discussions we have going on so from now on every monday i will be posting up a money win monday thread um which doesn't just have to be for monday of course you can share them with us all week long but you get a new thread every monday correct so i will make

sure that they're pinned either in the announcements or the pinned posts at the top of the page every week so super easy for you to find and then you can go through the comments like and interact exactly the same as we normally do it's just going to be a little sleeker in the feed i love that speaking of our facebook group let's head back to the community for a minute we all have found our favorite post of the week or of the month yeah because we've had a few to choose from over yeah we've had a fair few to choose from over chrissy so before we wrap this episode up which arguably is a lot fluffier than our normal she's on the money episodes you would have noticed that we've been breaking it up a little bit more because one we love to be in your ears more

often so now you're going to get three episodes of she's on the money each and every single week but two we feel like this friday wrap is kind of like friday afternoon drinks or friday morning drinks with your friends and checking in on our community and checking in with our friends and just seeing how you're doing and wishing you a good weekend before you get to hear your money diary on monday there definitely is friday vibes because we have all lost the plot yeah we've lost it we have been in the studio for so long yep all right so jess what was your favorite post uh my favorite post came from donna who left us a beautiful long summary of her 2020 like many of us it was a bit of a garbage fire um it started off so well she got her dream job she was a flight

attendant working internationally and then as you can imagine came crashing down around march because of covid would have had it really hard so tough her and her partner both lost their jobs and of course like all of us she went through that really tough period of feeling sorry for herself not being sure what to do and then kind of got it back together around april started applying for jobs like crazy smashed it out of the park and got a job for herself full time in november and now they've paid off their debt they're saving she's closed zip pay she's closed after pay and she said she's so positive and looking to the future now and i'm just so proud of her yeah that makes my heart so warm yeah there are some great stories like that in the group of

it has been a tough year but even just that uh what do you just say as green shoots of positivity coming into a new year with a new job and stuff like that jobs coming back yeah i'm so excited for them how epic is that ryan did you have a post that you really liked this week i've never seen someone usually when you're like i want to save this amount of money you kind of like almost get there if you get close but it's like if you save ten thousand dollars you're like yeah 8,900 yeah that's close like i mean that's good so mel said that this year and this is from december she said it was a bit of a do or die year for me i was really determined to save 35,000 by the end of the year that's a big goal yeah that's a massive goal especially in 2020 i know and she

thought that herself when everything started turning to crap you know she goes okay maybe 35 is pushing it i'll just settle for 30 well by the end of the year she hit 40,000 dollars so she exceeded her original prediction by 5 000 and even after she brought it down she still smashed it oh i accidentally saved an extra five grand i cannot say that i've ever been in that position people may recognize this post because so many people have commented and just been like congratulations this is amazing really impressive and i agree melissa well done you're a legend and how you kept saying i sort of got to the point where like oh i can celebrate now i've hit my goals but to keep going well done to you what's your one all right so my one is from Michaela and

this actually warmed my heart and I know that it warmed the heart of at least five and a half thousand others of you because that's how many people have liked this post thus far and it's only been recently posted so Michaela said hello ladies first post I've ever shared and I wanted to share a story about my mum which I think is really special because mums are special people She said about 10 years ago, my mom had a workplace accident that still sees her struggling today with medical issues. She slipped a disc in her back, which is terrible and literally the worst. But then she's also been diagnosed with type 1 diabetes, has high blood pressure and a whole heap of other stuff, which honestly sucks and is the worst. But about three years ago, her and her three brothers decided to open a joint bank account together for their mom.

and they've all been contributing $10 a week each to this account to set aside for her to hopefully like go on a cruise or something. But then obviously after 2021 wants to go on a cruise. So on Christmas Day for her present, they gave her a bank statement of $6,700. And obviously she said that's not a direct money win, but I just thought it was a really nice story to share, which it was Michaela.

That is so beautiful. And from the picture, it looks like her mum is literally broke. it like she looks so happy but also you can tell she's bawling her eyes out like how beautiful and then she said once my mom found her voice she said that she wants to go on a family holiday to new zealand one great location but michaela said well i'm gonna start saving so i really liked that and i thought that was really beautiful and i just think that that is again one of my favorite quotes from little things big things grow and look at the impact that they could have had don't you dare

play that song ryan john sorry what did you say no i'm not gonna say it again please leave no are we almost done anyway yeah this is from little things big things that's the radio host in ryan john but anyway i thought that was a really great post that just shows that over the long term that stuff does really add up and that can really change someone's life so i think that that is just it's awesome so given i'm being played off with music um i think it's about time to wrap the show so just before we head off though we'd 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

for 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 even on friday episodes is general in nature and does not consider your personal 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 i am actually an authorized representative of australia pacific funds management ptyltd abn 34132463257 afsl 339151 and thank you to ryan and to jess for joining me today who are our producer and community management and content creating angels that help us bring these pods together and you know run our community which i appreciate endlessly

you're welcome don't forget to keep sharing your stories in the group by the way because we're going to do an episode every friday sharing our favorite post sharing our favorite money wins and sharing all the things that's happening in the community so please keep posting if you've got any friends please recommend it victoria off the top of your head do you know what we're up to people in the group we are up to um i think 118 000 people in our she's on the money community which guys makes a lot of sense as to why we now have jessica on as our full-time community and content creating manager how uh how big was the group when you started it like obviously when i started a

Facebook group, there was no one in it. So it was quite little? No, mate. From little things, big things grow. I was trying not to say it. From little things, big things grow. That's enough from us this week.