She's On The Money - FRIDAY DRINKS: What's with AI Marketing?

Episode Date: October 14, 2021

Happy Friday sweet friends! We have a good juicy chat all around the latest MLM you might have seen on TikTok - and why you should be wary.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. welcome back to another one of our friday drinks episodes where we get to celebrate the wins from our she's on the money community and talk a little bit later about some very juicy ponzi schemes i feel like i have uncovered tony and jess but before we get to my juicy juicy news our she's on the money community and our team spend a really big part of our week talking about the money wins

and the fun financial things you guys do in our community so this is obviously an episode to celebrate that. But before we get there, Tony, what happened on our money diary on Monday? Our money diarist this week went through a breakup and really wanted to go on a holiday, so started budgeting. She'd never budgeted in her life. Somebody tried to make her do the Barefoot Investor years ago, and she was like, absolutely not. And now she's a little budgeting queen, and she's saving all this money. She got to go on a holiday, and she saved $50,000 already this year. That was actually such a surprise. Honestly, she was telling us on that money diary. Cause obviously I don't mean to be like having favorites on this show, but like

money diaries are my favorite. Sorry. Bye. Um, but this money diary was so fun because you could see how motivated she was and how excited she was. She's like, yep, I've just started like properly saving. And we're like, what's your goal? And she's like, Oh, a hundred thousand dollars. And we're like, Oh, far out. Like that's really steep goal. Like how are you going? And I think Tony and I were expecting her to be like, yep, got 10 grand. Maybe I'm doing a couple of hundred dollars a month or something. And she's like, yeah, I've saved 50 grand this year. And we both were like, oh, so you're like already halfway there, like way to make us feel bad about our savings goals. So it was honestly a really motivational episode that I think just

really showed us exactly how you don't actually need to have always been good at money to actually just start. You just need to find that motivation. And sometimes it doesn't come until you broke up with someone or changed your situation and as i've said before there is always a trigger like you don't just one day wake up and go do you know what i'll start budgeting usually it's like oh my god i never want to feel that way again i can't believe i didn't have the money for that bill or oh i really had to miss out on this social circumstance that all my friends got to go to and they could all afford tickets and i just couldn't i had i just didn't have the cash so i missed out i need to get my shit together um so i think that budgeting is usually very trigger based

and we always find a motivation. It might be that you've changed your mind. You're like, oh my God, I really do want to own a property. I'm just going to get my stuff together and start saving. But there's usually this trigger point. And I guess I would love, and I'm sorry, Jess, I'm throwing you under the bus again. I'd love to today put a thread in the Facebook group and be like, what was your trigger point? Like, what was your change moment that was like, nah, I'm going to get my money life together. Like what was it? Cause like for some people it is like missing out on a social event but I remember for me sitting on my bed with my cat feeling really guilty because I couldn't afford the really expensive cat food for him and I knew that I

probably should have got my life together because by that stage I was a grad I wasn't a uni student anymore and that used to be okay but I was like oh I really want to be in a situation where like I can't afford the stuff that like what what I deemed the fancy people to be buying and for me that was such a change like point in my motivation. And yes, there was so much going on in the background and I had debt and a personal loan and I, you know, struggled with that, but those things literally weren't enough. And it turns out my trigger point was me wanting to give my cat a good life. So there you go. I would love, love, love to know what everybody else's is. So I will put a thread in the Facebook group today and we can have a chat about that. But we also had a chat

this week Jess on our Wednesday episode what happened on Wednesday so you and G did a highly requested part two to the Q&A episode we did a couple of weeks ago we had so many people asking more and more questions we get them every day so it was really great to have you guys sit down and rapid fire answer a few of them I will say if we ever do one of these episodes in the future don't forget we can't give you personalized advice we get a lot of people in our DMs asking really specific questions and because Victoria is a registered financial advisor it's actually not appropriate for us to be giving you that advice so um it was really it's actually inappropriate for anybody to give you personal financial advice regardless of whether they are

a financial advisor or not without taking your holistic situation into account so like whether they are an advisor or a money coach like I think that's just like a just be careful friends it's not just because I'm an advisor it's because that's actually the responsible thing to do um and yeah that's that's my little side note of compliance guys so yeah you guys got through a whole heap of really fun questions hopefully people have some answers to some things that they were wondering about um and as always if you have questions let us know because it might end up on a future episode which is honestly so fun those q a episodes are very quickly becoming some of my favorite episodes because i feel like i'm engaging more with our community and getting to talk to you

guys and actually answer your questions like that's way more fun in my personal opinion than you know obviously doing all the research for an episode which promise we will continue to do because those are super fun as well but just knowing you're like oh v what is this or how is this i'm like okay sit down i'm ready i will teach you so i just really really love it but given how much i love the community and learning about what you guys are up to tony what were your favorite money wins from this week all right i've got a few that i know jess you'll be excited about but the first one is from kim uh kim says money win found a pair of levi jeans in my local op shop 30 with the tag still on oh my gosh levi jeans are like the ones that never wear out they're

like the ogs that just last yeah i'm pretty sure if you take them to a levi store they like fix them for free the same as the lulu lemon tights and stuff yeah i know that nudie jeans do that as well because i put on a pair of jeans recently and it turns out covid wasn't as kind to me as i would have liked it to be and now i know that i can go in and get that zipper bed oh thank god oh my gosh we were all waiting um and jess it is no barbecue but melina says i won two months free with audible from mcdonald's monopoly she's on the money's on audible you're welcome the mcdonald's Coke also goes really hard I love a Macca's Coke it's so much better than any other different than a can of Coke yes absolutely why does it taste different is it because it's like mixed with

syrup like is it the syrup yeah I think it said it's post-mix yeah and it like really quenches your thirst because it's got the soda water in it I think yeah okay so can you get can we actually buy the Coke syrup because I'm pretty convinced with my soda stream at home I've had the Coke syrup's just not the same thing is it jess and i have it in the office yeah but is it as good i feel like they're not giving away their secret sauce that's what i thought it must be a conspiracy comparable but there's got to be something different because nothing hits as hard as a mackers coke so enjoy that freebie so literally i feel like they do withhold it because they know that you guys say things like this like mackers coke is the best coke so they're probably like

sprinkling MSG or something in it. And another Macca's Monopoly win, four free soy lattes for free, says Paula, which is another great money win. But unfortunately, no barbecue. We haven't seen a barbecue come up yet. Jess is desperate for a Macca's Monopoly barbecue. Maybe it'll happen. We could do a quick shout out. Hold on. This can be a save, Jess. Jess, what is the ticket that you need to get your Monopoly barbecue? Old Kent Road. She's evasive. She's out there. She's calling my name so if anyone is elusive i like it she's really hard to get a hold of so if anyone would like to i don't know what i could possibly offer you in return we can give them no we can give them a budget and cash flow masterclass with $395 that's better than a barbecue if you ask me

not just a barbecue like if you've only got that ticket like you haven't got the barbecue you've got to have the matching pair so like it's something for potentially nothing or you can keep looking for your second ticket get your barbecue that's fine but if you want to give jess a money win like it just seems like a no-brainer you know all right so now that we've tried to get jess money win barbecue uh lauren says i received my car insurance renewal which prompted me to shop around found another insurer with 15 discount if you buy online and saved over 300 annually oh my gosh that's so much money i know um charlotte says went to spotlight yesterday for some blockout blinds and while the blinds were 40% off we also found some cushions for

our couch marked down to $15 that were originally $40 each. 40 bucks a cushion? I mean no she's living la vida loca. I could never look at a $40 cushion and go you know what yep I'll do it but I mean they were only $15 so maybe it's fine. Is that how much cushions cost because my mum bought the cushions that are on my couch I've just never considered this. My cushions are from Ikea and like the fake feathers pop out all the time. So if you're sitting on one of them or it's in your back or you just get the little pokes from the feathers, like in your skin. Yeah. It's like a little massage. It's like you get acupuncture every time you sit on it. Acupuncture is really expensive. So that is a money win for you, Tony. I'll use that next week. Um, and Nanya says money

win paid off $800 out of my $2,000 credit card debt, which is so exciting. Yes. So exciting knowing that you're literally nearly halfway there. I bet that there was a time when you were like, oh my gosh, this feels so hard to swallow, but we're nearly halfway there. There is not far to go, my friends. So make sure you give us an update. Holly says, I entered a competition from my university

where I had to make three short videos about academic integrity. The prizes were super generous. $50 if your video was used by the university, $75 if you were one of the first 10 entrants, which is easy money if you just got it in on time literally just don't even put your actual entrance in just make a quick selfie so you'll be like hey here for my 75 bucks we'll put my good one in later that's technically meeting the rules i agree uh and bigger money prizes for the

top three videos i would have been stoked with just 50 for my video being used so i entered i did not expect to win 500 for first place as well as the 75 and 50 bonuses so a total of 625 dollars oh my gosh she's an influencer she's creating content that makes her an influencer i feel like there's always really fun stuff like that going around at uni it's worth keeping an eye i know when you're in class there's a message board i'm sure there'd be an online equivalent while we're all learning remotely um but like make that cash girl yes yeah um like the university guilds and stuff are always running things like that and also we've um had a few people post wins in the past where they've applied for little scholarships here and there and gotten like

$100 Apple vouchers for a new laptop and stuff. So make sure that you have a look and make sure that you're really ringing your university try for all the money you get. You're giving them enough money. Yeah, I was about to say you guys paid them enough. It's time to find out how you can get something back. Exactly. And finally, a really special one. Alice says, massive emotional money win or maybe money even, I broke even on my small business this weekend. Oh my gosh. How exciting is that? I know. Imagine starting a business and going into debt and going through all of that to then finally break even. My friend, everything is up from here. I know. So congrats, Alice. Thank you so much for sharing with us. And we would love it if you DM us and let us know that

you're Alice from Friday Drinks and we'll pop your small business as a little shout out in our newsletter as well which is super cool oh my gosh and then maybe there might be a tiny bit of profit for you that could be on next week's money win thread so i have something that i want to talk about this week because we've been getting lots of dms to the instagram about this and i have also seen it all over my tiktok it just seems to be absolutely everywhere right now and i feel like it's the latest get rich quick scheme but v i want your thoughts have you heard of ai marketing yes i have and what are your thoughts like is it before i get into this because like y'all are gonna have to literally sit down because i'm about to go on a rant but jess when you saw that how did

you feel about it like tell me about the tiktok that you've seen and about i guess what it i don't know what it felt like because I feel like I've also had a lot of DMs this week from people in our community and just people on my Instagram being like oh my god V have you seen this can you do a whole episode on this and I keep being like oh my gosh this is so concerning and nobody seems to be talking about it when I did some research because I knew you said you wanted to ask me about this on the show I could not find any news articles about it I literally had to go into the depths of the internet or as Amy Lenardi would say on the property playbook Tony the dark web. The dark web. I didn't actually go on the dark web, but it took a really long time to

research this and uncover what we are going to talk about. But I think firstly, tell me about this TikTok stuff. What is it? So there's this real trend right now, I think, of people wanting to make some extra money, set themselves up financially, which we love to see it. We are all about that. That's what we do here. We love seeing people empowered to take control, start a little side hustle do a little something something but it kind of feels like with that I guess change that people want to make there's a group of people that also just want to take advantage and capitalize on those people who are looking for guidance or for help and so the tiktokers that I've been seeing have been really I'm gonna call it girl bossy like yeah I work from the comfort

of my home three days a week and I make x amount of dollars doing absolutely nothing and I can show you how if you buy my short course like which is an instant red flag if ever you've seen one right yeah like there's red flags popping up left right and center and it's that it's got mlm vibes written all over it to me um but i don't know if i say they're not an mlm right like yeah they are making videos that say no this is absolutely not an mlm don't worry guys this is definitely not a pyramid scheme and what jess is referring to at the moment is i guess you could call it like a trend because it's not just one company. There's a number of companies. We are going to specifically talk about my research on AI marketing. That is the company name, but essentially it's AI marketing

bots. And the lure of it is, hey, invest your money with these AI marketing bots. They will invest your money into marketing and give you a return. You go, okay, cool. Like that kind of makes sense. And the premise of it sounds a little bit like referral marketing. So then, okay, I can kind of see how this might work. What they're actually invested in, I don't know. This week, I have actually emailed their company three separate times with absolutely no response. But essentially, the crux of the conversation, Jess, is that we've had a lot of messages from people being like, oh my gosh, Victoria, this AI marketing bot stuff sounds so great. Is it like the next crypto? Is it something that I can invest in and make a lot of money with? And there's a lot

of TikTokers that are saying, oh my gosh, I'm going to retire by the age of 30 and this is how I'm going to do it. Join me. If you use my code, you'll get $50 in your account to start. And it sounds really exciting, but there are a heap of red flags that to me jumped out. They're very defensive on TikTok about it. No, it's legit. It's fine. So we haven't actually tackled this in Australia. I wouldn't be surprised if this hits the news at some point in the future and we start talking about it. But essentially in August, on the 17th of August, the Central Bank of Russia issued a pyramid scheme warning against AI marketing and essentially said that this is absolutely not the type of thing that you want to get involved with. And the reason for that

was because the company behind AI marketing, and I've done the research, AI marketing is actually owned by a company called Wexford Alliance Limited, which is not based in Australia. It's essentially based in Hong Kong. And from my understanding, it just looks like a shell company. And when we say shell company, a shell company is a company that you set up so that you can say you're in Hong Kong because the rules in Hong Kong are different to maybe the US where you live. So it's a bit sneaky. It's a little bit sneaky and you set it up so that you can like get away with some more things that their country allows you to do and pay their tax rates and all of that stuff while not having

to adhere to the American standard or the American version of tax. And the Central Bank of Russia has essentially come out and officially said that AI marketing by Wexford Alliance Limited shows signs of a pyramid scheme, and they're currently investigating that. However, on the 12th of July, a very similar company called INB Network was completely suspended from making AI marketing withdrawals, which effectively meant it collapsed their entire Ponzi scheme. So at the moment you're seeing on TikToks and people, they're like, oh my gosh, I invested my first $1,200. Like if I keep going, I've calculated that I'll retire by 30, which would be true if it's true. But at the moment, the money that is being made is essentially being distributed between all of the people. So

tony if you went and invested your first thousand dollars they might take that and distribute it to the people who are already in it so they feel like they're getting profit when in actual fact they're not so it's justifying it people are talking about it and perpetuating this into feeling like it's legit because tony if you put your money in and you put your thousand dollars in and next week you had twelve hundred dollars you'd be like they i don't know what you're talking about this is real money yeah in my real account like i've tested it i've tried it and you'd be stoked on that return too, wouldn't you? Exactly. I'd be over the moon, but essentially what has happened to an almost identical company that was shut down. So the company we're talking

about currently has a warning on it, but the company that was shut down, everything just ceased. So the thousand dollars that you had invested, you might've reinvested that. You'll never see that again. So everything just ground to a halt and everybody in that scheme just lost all of their money at that point in time. So there would be people that would turn around and be like hey v like i did it i tested it out i pulled my money out i'm i'm still up like it's fine that's because their money wasn't in the account when it shut down that's because they were in a lucky position essentially but i think that the reason i want to talk about this and not you know get too much into it i just wanted to tell you guys yes i did do the proper research and i do

understand it and from all intents and purposes this is from every single sign that we can see a Ponzi scheme or a MLM, which is not going to put you in the best possible position, but it really leads into how influential TikTok finfluencers are and Instagram finfluencers are and what that actually means for us. Because let's be honest, guys, I'm a finfluencer. How do you know the difference between what something Victoria Devine says and what someone on the internet who has a TikTok account who's trying to tell you, invest in this, it's really easy. Like, how do you know the difference between those two things? And like, what is the right way forward? Because from my perspective, how do you keep yourself safe on a place where you just

thought that people were doing the right thing when in reality, I think that the people that are perpetuating this genuinely believe that they're also doing the right thing by sharing this awesome plan with you. Like, it's an investing plan. They've made money. They've made quote real money. I mean, one of the warning flags to me as well, guys, is that you're not allowed to withdraw the money into a bank account it has to be withdrawn into like a paypal account what legit investment actually has that yeah come on i think it comes back to and this is a conversation i had with someone earlier in the week is that people should be providing you information and resources and that's something we try and do on she's on the money to empower you

to make your own decisions if someone is standing in front of you and saying this is the best and only option that you can or should ever take. To me, that's a really significant red flag because there's so many different things that factor in from risk profile to your personal values that it's actually impossible for someone to tell you if something is good for you or not without them having an in-depth knowledge the way that if you consulted with a financial advisor or a financial counselor, then they would have that overview. But if people are just telling you to do something, it's so important no matter how much you trust them that you still go away and do your own research and still look into it and make sure you understand it because you know everybody as you say

from us to people who have no financial knowledge whatsoever anybody can put themselves out there on the internet and say something and if you have enough charisma it's believable and so yeah and that's where it's really scary and really hard because there's not a lot of regulation on a lot of these newer platforms. And it's so, so essential that you go away and you do the research and you look into a business or you look into an investment before you put your money into something because that's your money. And the person who is best placed to look after your money is you. Yeah. And I think it's really important as well that TikTok isn't research. And I know that you guys are probably going to roll your eyes and be like, yeah, V, we know, but I'm looking at these

accounts and I've obviously spent a very long time on TikTok this week and it was for business it was for work purposes guys but these guys are providing what I would deem to be the receipts like if I didn't have the financial education that I do and I'm very grateful that I do they're posting really responsive replies to everybody's comments and they're actually providing screenshots of their bank accounts and what money they're making and you kind of go this feels legit and like even I got swept up in the emotion of it looking at it when I first began because I was like oh this kind of sound this is so interesting and like I I feel awful comparing it to this but like for me a genuine money win is our friends at shop back and I'm like oh if you do this you get money in your account

and that is very legitimate like that is absolutely something that I go yeah cool like that's a way I can see where it comes from I know where that money is coming from and why it's there and they can clearly articulate it and it's by no means a bad thing really great way to have a money win this is like spoken about in a very similar vein so you kind of go oh well that that makes sense but then you start going but where's the money coming from like cool if it's a marketing bot it's obviously like maybe automating marketing what in how in where in can i see the performance because even the most complex investments on the asx like you could go and pick up an etf and go v the CTF is literally holding 300 separate companies. Cool. I can provide a report on

every single one of those companies. I can show you what percentage you're holding, what their return was, what their company profile is. I can tell you who their CEO is, and I can tell you exactly why their company increased in value over the last 12 months. I have literally no idea and no way to research where the money and the return is coming from this it seems really wild and the fact that these girls who are our age Tony and Jess like they are our age and they seem so nice and honestly so enthusiastic you go oh my gosh I can see all this passion and I feel like they're going to end up being let down as well because not only are they kind of like leading this and jumping on TikTok and saying oh my gosh like this is such a good

idea I'm making bank and I really want you to as well like I get that like I get that underlying feeling like that's why we have she's on the money because i want to share financial literacy with you guys i want you to be safe i want you to be secure and i want you to have the best financial future and i can kind of see that passion reflected in them but it's really sad because they've been deceived and they've believed this thing that is not ultimately going to create that for them and while it might look like they're making quite legitimate thousands of dollars today at some point in arguably the very near future, it's going to come to a grinding halt. And a lot of people are going to lose a lot of money. And a lot of people are going to be really resentful

of them because they're the ones that actually guided them to starting that. And maybe you'd never invested before. Like for example, Tony, if I said to you, Hey, like invest your first thousand, you're like, Oh my gosh, like that's such a big amount of money, but I've watched all your TikToks and I'm really invested in this. Like you'd be heartbroken or anybody would be heartbroken in that situation and I think it just does really negative things for the investment world because that's not a true investment that's a scheme that is not how the world works and you're probably going to be tainted by that and a bit burnt so investing as a whole is not something that you're going to want to pick up because in your head the last time you tried investing you

got really burnt yeah because money definitely has that like emotional muscle memory so it's like when you have to spend money on something that like when you were younger that your parents always fought about or you know just as an example then it makes you resent spending money on that thing so then if an investment goes bad you're going to be very nervous the next time you even think about it or maybe never do it again the other thing with this is that like the name AI marketing is so misleading as well because if you say to someone oh I've invested in AI marketing you would assume that they meant the verb not the noun like that you were investing into a company that did ai marketing as in like a robot marketing yeah yeah that's probably a

company on the asx that are genuinely turning really great profits because kind of makes sense right it's 2021 ai that's increasing in popularity and technology and marketing we we live on the internet now so it makes sense we'd be like oh that sounds like a really cool growth opportunity like what a genius because when Jess and I were talking about this earlier in the week my boyfriend Torbs actually works in AI he's a software developer and he works in AI like robots and making people's lives easier and stuff like so smart imagine if you could say that your partner literally built robots um software robots not like actual ones that are like I am a robot I don't want to hear the rest of that story and so when Jess was talking to me about AI marketing

I was like, oh yeah, they're obviously talking about this because in my house, that's what AI means. And then now we're talking about it. I'm like, oh my God, I probably would have been sucked into that. No, but that's just it. Right. And that's why I'm flagging it because even me who has, I would say a very significant financial level of literacy, I felt immediately comfortable with this person on TikTok. I really liked her. I felt like that was, you know, one of our community making videos and I was like oh what's this about this is fun because I had seen those TikToks and like not properly engaged with them before someone had asked me about them so I was like oh yeah okay like I think it's just like an investment thing that I haven't really done some

research into and just like you Tony my partner works in marketing so like it was just like okay yeah like that's an up-and-coming thing like all I hear all day is digital marketing this digital marketing that because like we live in the same house during COVID lockdown and it's like I'm privy to all these meetings. It's really sweet. But it's one of those things that you're right. You just immediately feel really comfortable with it because it feels very 2021. And I mean, it's also one of those things where even if we didn't feel comfortable with it, like crypto and Bitcoin are thrown around so commonly nowadays. And like, it's one of those things where if you went and bought a true Bitcoin, for me, I'm not willing to take on that risk.

There's too much volatility in that market. It goes up and down. And for me, that risk isn't worth it. And I don't think that based on my research, it's something that I would be comfortable recommending to a client or, you know, our community. So for me, no, Bitcoin is legit. We're not even saying here, Hey, like it's a bit like Bitcoin. It's just risky. No, this is a legitimate Ponzi scheme that is going to lose a lot of people, a lot of money. And I am genuinely terrified that people are allowed to publish content on a platform that is so easily accessible and so convincing. Whereas historically like Ponzi schemes, you'd have to like be invited to someone's house to sign up. And there was a whole, you'd have to go around the loop de loop to get

involved. Whereas now it's just literally on the internet and they've got Facebook groups and Facebook pages that you can follow. And as I said, it feels incredibly transparent. Like when somebody is open enough to say, Hey V, here's my bank screenshots. Look how much money I make. who am i to argue with you so it's now literally only this week where i'm doing a deep dive into this i'm like guys they were blacklisted by the russian government on the 13th of july and then on the 16th the central bank of russia issued a legitimate public warning like can somebody maybe let australians know as well because like nobody's talking about this and the fact that there is such significant warnings existing like why are we not talking about this i mean i did have to translate

a lot of the websites that I was on from Russian. Thank you, Google Translate. I was going to say, have you learned Russian? But it seems to be relatively well covered over there. Whereas in comparison, like we haven't heard anything about this. And very recently I watched a conference video online where Jane Hume, who is a local MP, was talking a lot about TikTok influencers and, you know, not being a fan of influencers. And I can kind of get where she's coming from, because there is a lot of danger in this topic and there isn't a lot of regulation around what we do and how it works. I mean, the financial services industry is a little bit different. That's incredibly regulated, but people who just want to start a TikTok and they're really

passionate about wealth creation, which I feel like has existed for a couple of years and is now the center of conversation. But it's one of those things where, how do you know they're being regulated and should they be regulated and what's going on? And, you know, Jane Hume just wanted to to essentially cancel them all. And I don't particularly agree with that because I actually want to have open, honest conversations about wealth and money. And I would love to think that more people created more money content, but how do you differentiate between the stuff that's dangerous and the stuff that's educational when they are presented in exactly the same format? Like how do I have a balanced conversation when anyone with a phone can literally start

becoming a financial influencer just based on what they say and whether they've got good rapport how do we mitigate that and how do we actually create a trusted space where you go oh no i follow tony on instagram i know if she posts something it's probably legit it's all good and i mean we can all say take everything that you learn with a grain of salt and i would say that with she's on the money as well i'd never ever ever want someone to listen to a she's on the money podcast and go make a financial decision like that is actually just really wildly irresponsible like you shouldn't do that to yourself you shouldn't limit your research to only one place but like on tiktok there are heaps of people talking about this it's a whole trending hashtag

like you know it might be tony talking about it then just talking about that victoria talking about it and you kind of just start to feel like it's real and it's legit and you're like there are so many people on board and that then leans into the behavioral side of money and you go herd mentality i'm missing out on something that they're in on and i'm not i feel like i'm missing out and then you get on board of something that maybe you're not that comfortable with yet because you just don't want to miss out you know yeah the FOMO of it and that's really real but yeah I just wonder and I guess that's a conversation that I would love to open up in the future and have more honest open conversations about well what do we do in this situation how do we keep each other safe

online and how do we make sure that the content we are consuming is really legitimate and I guess that's why I try really hard to lean towards government websites so that you always know that you're in the right place and that you are safe like I don't want it to just be she's on the money as the home for the information that you have and that's why we always promote go listen to all these other podcasts these are the ones that we know are good like we know my millennial money and equity mates are putting you in the best possible position and they're trying really hard to give you very balanced information whereas I know that there are other things out there that to go, oh, like I'm not super comfortable with that because it's just not putting you in the

best possible position. And I mean, it's the same with financial influencers. Like there are some that I adore, like Queenie, she doesn't know I'm obsessed with her, but I am. She does such great content, Broke Generation. So Emma, we've had her on the podcast. These people aren't financial advisors, but their content is so good, so wholesome and so realistic. But then there are all the bad eggs that give everybody else a bad name as well, which is just really disappointing. um well i guess it's like with anything like use your gut try and research as much as you can don't just go to one point for any information and if you are after financial advice engage with a financial advisor absolutely and i think to round all of that out if it sounds too good to be true

then it probably is and always always always know that our dms are open if you have any questions or you're worried about anything we are in there like we love the goss like we want to research this stuff and share it with our community so if there is something that you're worried about or not sure about we will obviously try really hard to give you a response on like hey yeah probably be wary or here's some more information or talk to ASIC or talk to the ATO or this is your next steps we obviously won't provide you with financial advice but we're a group of good friends doing good things I think Tony for sure all right guys you can stand up again I know I said sit down that was probably a really lengthy couple of rants from me but I think it was really important but as

always I do think that is all we have time for today so just before we head off we'd like to acknowledge and pay respect to Australia's Aboriginal and Torres Strait Islander peoples they're the traditional custodians of the lands the waterways and the skies all across Australia we thank you for sharing and for caring for the land on which we are able to learn we pay our respects to elders past and present and we share our friendship and our kindness the advice shared on she's on the money is generally 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 any financial decision and we promise that victoria divine is an authorized

representative of australia pacific funds management proprietary limited abm 34132463257 afsl 339151 see you next week guys