She's On The Money - Is Crypto a Goldmine or a Gamble? And The Smartest Way to Use Your Spare Cash

Episode Date: November 27, 2025

Ever seen a crypto bro promising this coin is going to be the next big thing and thought… okay but what if? Well this week we got a DM from someone whose partner has fallen for the hype hard. So we're taking a closer look at crypto is, what it isn’t, why it feels so convincing online, and how to tell the difference between investing and straight-up gambling. We're also answering what to do when you’ve paid off a loan and suddenly have an extra $1,000 a week. Save it? Invest it? Split it? We talk through the simple framework that helps you figure out what actually makes sense for your timeline and goals. Plus we've got all your fave money wins, broke tips and the usual Friday chaos.LAST DAYS: Want to learn how to invest (or just get your money sorted)? Our Bundle Sale is live! Up to 30% off our most-loved courses and tools, to help you feel clear, confident, and in control. Check it out here. Need the team’s take on your money dilemma? Send us a voicemail here.Or if it's more of a spicy money drama and you want the communities verdict? Slide into our DMs here.  Ready for more laughs, lessons, and unhinged money chats? Check out our oh-so-bingeable Friday Drinks playlist. Listen here. Join our 400K+ She's on the Money community in our Facebook Group and on Instagram.  Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs.  Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708,  AFSL - 451289.    See omnystudio.com/listener for privacy information.

My name is Natasha Bamblett, I'm a proud First Nations woman, and I'm here to acknowledge country. Tii, gulinyan ganya, nianakaka yao yinbina waka, nianakai nianbina yakarumja, duminyagumiga dumiga ithawaka nirawamundamun imalan. Mumu bangada boma ininyalan waka, gaunan yakarumja, wutunarana. Hello beautiful friends. We gather on the lands of the Aboriginal people. We thank, acknowledge and respect the Aboriginal people's land that we're gathering on today. Take pleasure in all the land and respect all that you see. She's on the Money podcast acknowledges culture, country, community and connections,

bringing you the tools, knowledge and resources for you to thrive. She's on the money. She's on the money. hello and welcome to black friday i mean she's on the money the podcast that makes personal finance fun especially on fridays it is our favorite day of the week because we get you and our little team together and we get to celebrate our community miss jessica rich is here and she's sharing our favorite money wins, Miss Bex Syed has a number of different broke tips that she guarantees me are not stolen from Miss Jessica Ricci this week. We're going to be helping to answer a money

dilemma that's all about what to do with the spare money after paying off a loan. It's not spare money, but okay. And something that you slid into our DMs about, how do you handle a partner who's currently knees deep in crypto talk? I think that's going to be really funny. But before we get there, because we're quite self-absorbed, would you like to hear a five-star review to set the tone? Yes, please. All right. So this one is from Morgan and Morgan says,

I've been an avid listener of this podcast for over five years. Wow. Does that not blow your mind that we've been doing this for over five years? Yeah. I want to talk about how much older I am. She's an OG. I just want to say a huge thank you to Victoria, Jess, Beck

and the whole She's On The Money team for completely transforming my money mindset. I went from $6,000 in debt after a Mexico trip with zero savings to having, get this, sit down, over $50,000 invested in ETFs and a super balance well above the average for my age, thanks to your advice. Oh my God. That's amazing. I grew up with an abundance mindset and never felt I went without, but I saw the other side through my dad, now tens of thousands of dollars in credit card debt, who was forced to sell his fancy luxury car and move in with his 96-year-old mum with nothing to his name. That really hit hard. Thanks to your podcast, I now truly value the importance of looking after future me. You've changed my life and I will be a loyal

listener forever. It literally is the highlight of my week. Love, Morgan. Oh, Morgan. That's really cool. Sorry, $50,000. I know, that's incredible. What do you mean? What do you mean? I'm so excited for you but just so proud that you're in our little community and you're like I'm not leaving yeah thanks for hanging around thanks for hanging with us I need to give me some advice I think Morgan oh what a little icon no and you're on the right track you've started dishing out your own advice we don't even need it well you know that's just me giving my two cents where it's not needed no we love it always like it always and we'll get to your broke tips in a hot second but before we get to your advice and your tips and your tricks and your broke stuff

Beck would you like to hear the question of the week yeah yes please I'm excited because it is definitely now time for our favorite part of the Friday drinks episode where you guys get to ask us one question that you are dying to know it can be literally about anything even this one that is I guess perfect for Black Friday which is today from Emily who has asked what is on your fun wish list this week team I think everyone knows what's on mine already because I haven't shut up what is it i really want the ninja creamy so i like you really want oh we didn't know that give it to me rachel um i'm keeping an eye out i tell you what that's been on my list and i'm hunting for the best deal i'm gonna find it it'll be so fun to do like you know

those old school pizza hut oh yeah like the soft serve bar well victoria has one and we've been making all kinds of really fun things with it i would just like to point out and i feel like it's important that I pointed out to you that that was gifted to me from Ninja. Yes. I didn't purchase it. It was on my wishlist and Jess's wishlist. And then they were like, we've sent it to you. And I felt spoiled, but guys, we have Yochi at home now. That's so cool. It's on my wishlist too, if Ninja's listening. The girls all want ice cream. Sorry, we're not that deep. If I find a good deal, I'll send you the link. Thank you. Thank you so much. What's on your wish list um look i know this is silly because it's a wish list it's not an essentials list

babes yeah i'm not like i because personally i'm not like i don't really care about things but i always want to buy my girlfriend things and there's so many things on her wish list that i also remind um carla laidlaw pants i don't know if anyone is familiar it's like a melbourne artist i don't know if she's doing black friday please fingers crossed i hope she is well i'm well sure she is. You have to go check. Coffee machine. She wants a coffee machine. God, she wants so many things. So these, I think things that make life more convenient on the wishlist. Yeah. But for myself personally, honestly, probably just like new Google pixel 10 pro XL, just quick and easy thousand dollars. And I feel like stuff like that doesn't really go on Black

Friday. No. If it does, it's like $19 off. Yeah. It's still very expensive. So nothing crazy for me. What are you video? What's on your wishlist? I've actually just opened my list. I have a note section in my app and I have to put all of the stuff in there. So it's not just one thing. I'll just read you out my list of things that I've decided I want. These are just wants. I will probably forget about these things. Um, but I did laugh cause they also just, I don't know, not over consumption-y, but like I'm clearly very easily influenced by the internet and that's what my list is telling me so the first thing on my wish list are the bala wrist weights oh yes they do beautiful they're everything aesthetic so I'm gonna put them on my Christmas list because I just

think that I would use them and like I don't know ankle weights or like wrist weights I just think that's really cool and I'm being influenced by these girls doing the arm workouts on TikTok for their weddings I'm not getting married but like their arms look good um the next thing I have is I really want another rainbow bracelet. So I'm not wearing it today, but I usually wear a rainbow bracelet, but it is made of ceramic and I have been shipping it. And so I don't know what that bracelet is going to look like, but I told my husband like, oh, I think I want a rainbow bracelet for Christmas that I could wear every day without it getting damaged. I really want, this is so lame. I really want the Pottery Barn candy cane shaped cushion for Christmas. Cool. I've been keeping my

eye out at TK Maxx for you too. Yep. Uh, that's really lame. And the other thing that is on my list, which I think is a bougie thing is the Mason Balzac balsamic, like the balsamic oil or the balsamic bottle. Yeah. Cause I have the olive oil bottle from them. And then for my birthday, I was gifted the chili oil bottle and they've just come out with a balsamic bottle. What is the symbol for balsamic dark brown or like a dark red kind of olive on the outside similar to my green olive bottle and it's slightly smaller and I just thought the three of them seated nested on my kitchen bench would be cute but that is currently what is on my like little wish list um whether I end up getting them or not even bothering that's what I'll be referring to

gorgeous come like Christmas time I think yeah yes I would like a bottle for my balsamic can I also have a wrist weight? Fun question. I liked that one. Yeah. I like that one. Yeah. It's like a wishlist, but I think that it's smart to keep a, like a written list. A physical. Yeah. If anyone ever asks me, like my husband, what do you want for Christmas? I can be like, look, here's a list of things that I've been looking at that I would feel spoiled if I got, but also non-essentials. Cause I feel like the older you get, the longer you've been married, the more I'm like, you really should get another robo back for the house. Let's make that our joint Christmas present. And so these are things that are exclusively for me. As they should be. Exactly.

Absolutely. Now, would you guys like to hear Jessica Ricci's money wins and confessions from the community? Please. I hope everyone in the car is yelling yes right now because they're excited. Of course they are. Firstly this week, I've got a money win from Claire. She said money and hyperactive ADHD win. She went down a Bunnings DIY tutorial rabbit hole and saved herself multiple thousands of dollars based on earlier quotes she'd received by building herself an internal non-weight-bearing wall, which basically gave her an extra bedroom in her house. Oh, very cool. She also made and installed new kitchen benchtops as well. So the only downside is she's now become

obsessed with power tools and has a list of ones that she would like to add to her collection and has managed to almost sand off her fingernails a couple of times. Gorgeous. Be careful. A little DIY moment. Incredible. Next, I've got a money win from Christy who said her grocery order got cancelled last minute due to a blackout. So they gave her a $40 bonus for the inconvenience. She wasn't in a rush, so she just reordered it for the next day.

Viewed her monthly 10% off and then got 40 bucks off as well. Beautiful. Next from Hayley, she said she welcomed her second baby, another boy with a birth date five days after his brother's. Oh, cute.

Also, when it's not on the same day, like I'd be so anxious that the kids would have to share. Literally, but the money win is she's got no need to buy a whole new set of clothes because it's the same gender and time as you. oh that is the dream how do I plan that for me congratulations Hayley next I got a money win from Dana who said she went to check how much wrapping paper gift bags name tags etc she had

because she's starting to prep her Christmas budget well done queen she went into the cupboards and found four rolls of half used wrapping paper one of them which was brand new not even used five packs of name tags five gift bags a bunch of ribbon bows and tissue paper she said her Christmas wrapping is all sorted for this year and probably next year as well and I just want to remind everyone, I feel like these are the things that we shove in our cupboard and forget about. You probably have wrapping paper at home. So go looking for it now so you don't have to do a last minute Christmas scramble. Or you could do the Victoria Divine special and just buy the big roll of brown craft paper from Officeworks. You get like 30 meters, I think, for maybe $12.

Brilliant. And that is my wrapping paper. Sometimes I'll draw cute designs on the outside and then wrap it. Sometimes I'll use different bows, but like you get a present from me, probably in brown wrapping paper and it looks so beautiful you could use anything as wrapping paper too you literally can but i need to be prepared palm leaf yeah true i just feel i need to be prepared but that's okay yes i'm the same and then lastly this week i've got a money win from niche who said they're buying cotton wool linen hemp and natural materials only now so they're getting rid of all of the polyester and stuff in their closet and they found a bunch of 100 cotton tops at best and less for six dollars and a couple of them were even down to two bucks

gorgeous I will say I've been looking for a hundred percent uh like organic active wear I've never thought about that I can't find it yeah like a hundred percent cotton or like whatever I wonder if that's because like for the moisture wiki it totally is and the more I got into it I was like oh I want leggings that you know are better for me can't find it so if anybody knows please slide into my dms because yeah but you're gonna work out in linen oh maybe not you know I mean? It's not just clothing. It's like active wear specifically. Got you. Because a lot of them are like polyester or like lycra or whatever. Anyway, I don't know much about much, but I do know that I wasn't successful in my quest. She knows much about that. Miss Beck, Syed, what have

you got when it comes to broke tips? Okay. So this first one comes from Carly who says, every time I'm using one of those sheet base masks, I always keep the leftover serum and use it two or three more times you could even dunk the mask back in it's just been on your face zoe foster blake said that because she has like with go to she's like make sure that you don't waste the serum in the bottom of the thing so whenever i finish a sheet mask now i like dip my fingers in and like make sure i rub all the serum in totally you could just get like even i don't know what those masks are made out of you could get something similar you can buy silicon ones from some places that would be reusable easy to clean and then you can put it in whatever leftover serum you have yes i'm lazy

so I will be just using my fingers until the serum is not in the back anymore. Thank you. Also a good option. You could also do that. Absolutely. You guys are too crafty. This next one comes from Madison who says, keep cash in your wallet to avoid getting stung by card surcharges. I saw a surcharge that was nearly 5% recently. Oh my gosh. That's a great idea because you don't have to use it all the time. But if you do find a place that is like really crazy with this surcharges, then you're like, well, I've got the cash for that. And then yeah, you don't have to really, that's actually so clever. So thank you, Madison. But see, I love that, but I don't think that would work for me as a broke tip because in my head, if I have cash in

my wallet, that is free money. Yeah, true. Like I literally go, that's not real. That's cash. Yeah. Like that's the dumbest thing in the entire world. But like literally if I have $20 and then I spend that $20 on lunch in my head, lunch was free. Do not take financial advice from me always. 5% is so much. It is a lot of money. Yeah, that's wild. That's taking the mickey. Yeah.

You could be spending that $20 on lunch and then also not even realising that you're avoiding surcharge as well. True. So free money and free money. Now, this one comes from myself but also my mum. She always has some kooky things. I do think this one works though. So she says, Becky, Becky, you've got to put copper in your plants.

Does your mummy call you Becky? Yeah, she calls me Becky. That's so cute. That's so funny. I guess we haven't, I want to know what you guys get called by your family. Tori. Oh, Tori? My whole family call me Tori.

I would never, ever have thought. It's so strange. That is strange. I think Jess was like on another planet or something when she met my family and they were like, oh, yeah, how's Tori treating you? She's like, who is this Tori person? You don't know her boyfriend? Yeah, because everybody calls me in like my work life

and anyone that met me post school, it's V. Wow. and anyone that knows me prior to the end of year 12 or knew me well it's Tori that's crazy yeah but it doesn't like it's crazy because in this setting Tori feels so strange it does yeah if my dad called me anything other than Tori I would be like what are you doing yeah oh my god that is crazy to hear it's wild oh my god what about you I just go by Jess everywhere just easy easy peasy well i can't even remember how he started talking about that but no what's your mom's tip yes my mom's tip is that she says if your plants are struggling or if you're just

wanting to i guess like boost or like you know help them thrive you just chuck a bit of copper in the soil apparently copper yeah and you can get this like two literally it's two dollars from bunnings you just get like whatever kind of copper sometimes you get those little like taps that have four taps but they're copper oh yeah chuck them in there whatever thing you find that's copper doesn't matter what it is for just put it in the pot put it in the soil and your plants will thrive oh there you go i'm gonna try that on my monstera my very gay monstera that's my favorite my favorite callback that's so funny do you remember the no it was on the in joke it was on the podcast you were here it doesn't mean i was mentally present that's fair that's fair

Physically present, mentally not here. I was telling Bec about my variegated Monstera and she said, you're very gay, Monstera. I reckon my Monstera is gay. Not regular gay. She is thriving. Very gay. Anyway, I giggle every time I think of that.

So sweet. I'm going to put some copper in the pot and report back. Yeah, with your very gay Monstera. Tell her I said hi. And that's all for this week. I love that. That is a good place to leave it. Let's go to a really quick break.

Because on the flips, I'm going to be answering a money dilemma, which is all about what to do with the spare money that you have after paying off your loan and something you slid into our DMs about. Cannot wait for this one. How do you handle a partner who's currently deep in crypto talk? Guys, don't go anywhere. Welcome back, everybody. Let's take a listen to this week's money dilemma. Hi there. Have you got a money dilemma you just can't solve? The She's on the Money team is here to help. Every week we tackle your dilemmas, both big and small, to answer your most burning money, career and life questions. To get involved, simply head to our website and leave us a short voice recording and you might just find yourself on the show. Now let's take

a listen to this week's Money Dilemma. Hi, she's on the money. I'm about to finish off paying my $20,000 car loan and that means I'm going to have anywhere from $1,000 to $1,500 per week to either save or invest. Now I'm wondering what I should be doing, whether I should be tucking investments or whether I should be keeping it out on the side to start saving for a home. I'm not really sure because both of them are kind of a priority to me. Thank you. What the heck? A week? A week? That's crazy. A week? Yeah, I should say a week. Clear as day. Yeah. But even if that was a month, that would be a lot. That's wild. Even if it was a year, girlfriend you are going to achieve a lot a thousand dollars a week is fifty two thousand

dollars a year like yeah what the heck in very proud of you yeah that's so cool you need to work out your priorities because coming to me and saying do I save or invest I wish I could answer that damn question but that actually comes down to your values and your priorities and when you want to achieve these things because I would actually get in a lot of legal trouble if I told you the answer that I believe. And it's not because, well, obviously it's because it would be illegal for me to give financial advice without taking into consideration your whole situation. But the problem I have here is you said, should I invest or should I be saving for a house? Both of these things are a priority. I need you to zoom out. I need you to sit down and work out.

Okay. You've set a home as a priority. We know how to save for a home. What is your timeline? When did you want to purchase? Do you know how much you want to purchase for? Do you know how how much of a house deposit you actually want to have. If you're saying, oh V, I'd love to purchase by the end of the year. That is a different story than, yeah, a house is a really big priority for me five years from now. Because at that point, maybe you're not as aggressively saving for that goal. You are splitting the money across two different priorities. Or you might say, oh, buying a home. I'm, you didn't say how old you were. Maybe you were 19. I don't know. And you go, well, I want to own a home by the time I'm 30. And again, that's a completely different

strategy again. So this is why I can't answer directly the question of, should I save or invest? But we can do the maths and go, okay, let's look at our values and our priorities. But then we can also look at interest rates and rate of return on an investment portfolio. Like, you know, are you going to get the same returns in property as you might in the share market? Literally you are not, but returns aren't the only reason we make decisions, are they? so beck what would you do if you came into a thousand dollars a week and you're not allowed to blow it you have to save or invest it how would you personally split that that's crazy i think that because for myself personally i would be like i'm gonna prioritize house because i just feel like

they just they're just going up and up and up and there might be a time where they go down and that would be really annoying but i just think i'm like i want to get that done sooner rather than later and also just like have a little place to hang my hat and like settle and all that kind of stuff. So I would prioritize that, but I would still be doing like, cause you're saying 1000 to like 1500 per week. That's insane to me. I just went with the lowest amount. Cause I was like, yeah, either way you are going to be good. Absolutely. So I would be doing $1,000 in a high savings, high interest savings account every week. And then the rest it's like, it could be if it's 500, as you're saying, or if it's like less than 500, then I would just put that into

some like you know invest that somewhere but I think I would be putting majority of that in a high interest savings account and trying to get a house ASAP. I love that well I don't know if we want Jess's advice because sorry are you not a landowner now? Stop to brag. Not to brag but she's actually already achieved that goal. No I'm exactly the same as Bec that's how I did it. I was going to say at a thousand dollars a week I think you absolutely can probably afford to do both. pending timeline and all of those things that Victoria acknowledged before. I'm just too conservative guys. Yeah, no, I totally agree. But for myself, I did, I invested. You were still investing, but it wasn't your main priority. You were just like ticking along,

making sure that that journey didn't drop off the radar. Correct. I would say I was probably putting 70% of my like spare money into the house deposit and maybe 15% if that to my investment. So it was a lot lower than what I'd done previously, but that's because my big priority was the house. And that's what made sense for me. And it paid off because you wanted a house, basically ASAP. And if it was all in your share portfolio, even though there's better return in your share portfolio, you sat down and worked out that if you had to pull that money out at short notice, you might be at a loss because you can never work out what the market's going to do in the short term, only in the long term. But I have worked with clients historically who have

been like, yeah, property is massive priority for me, but in 15 years fee, like I'm a baby right now, or, you know, I want to go live in London and I want to do this. But like when I've achieved all of these other goals or finished uni or, you know, worked out what that life looks like, I want to come home to Australia or I want to then be able to go, okay, cool. And make this decision at that age. Then they invested the money because they had enough time on their side to make the most of the investment world because I wouldn't ever, ever, ever invest for less than 10 years. But if they've got more than that, okay, well maybe you do put your house deposit into that and then in 10 years you've got even more money to play with. But like, what's the worst that

could happen in that situation? So I don't know. I think it's genuinely from my perspective about what are your values? And I'm so sorry that I always go back to that, but that's why I'm so passionate about going do you know your money story do you know what you actually value are you actually being driven by what society is expecting of you or what you expect of you do you know the difference and it's not because I'm just a little brat it's because I genuinely go if you know that you can be successful and you can actually start structuring you don't need a financial advisor to tell you that you will know you can figure that out for yourself so would you like to talk about crypto? I would love to. Yes. Are you ready? Are you ready? So this is what

slid into my DMs this week. Are you ready? Hey, she's on the money. My partner is deep in crypto talk and it's all he talks about lately. He used to be really careful with money, but now he's chasing every coin. Some influencer is just hyping up. We've already lost a few thousand dollars and it's starting to feel a lot less like investing and a lot more like gambling. What's hard is we're trying to say for IVF and he keeps saying that this is how we're going to fast track it. I really get wanting a win, but it feels like the exact opposite of what we need right now. How do you talk to someone when they're in quotation marks, investment strategy is putting your shared goals at risk. You can go first on this. I think it's really hard to say because when you are in a

place because I personally think I've been like in a crypto space before and I think that if you really do believe like there's some sort of urgency behind you like you really do think that it's going to take off or you really do think it's going to be the next like because we all I think I think we all secretly even if you don't we kind of all secretly wish that we got on the bitcoin train when it started 100 and that's totally I think we all want to be rich right I think that there's like an element of like crypto it's like that could happen again any moment. So it's like, I think when the, you could also win Powerball at any moment. You could also win Powerball at any moment. A girl can hope. I could just be projecting here because I think

that that's, that's possible. Yeah. You could also win Powerball. You also could win Powerball. It's really hard to change the trajectory of someone's investment journey when they really, truly believe something. I don't really have any solid advice other than communicating and just making sure. Well, communication. Sorry, Bec, you can't bring that up this early. That's the last thing we talk about, don't you know? That's true. But also like just, I mean, and like not to give like any advice at all, but I think. I give all your advice actually, because cryptocurrency is not a licensed or registered financial product in Australia, which is why people can talk anything they want about it.

I can't do the same about the share market. This makes sense. yeah and anybody turns out anybody can talk about it well could you try and like get them to split i don't know like do half in go into like the australian asx that what it's called and i don't know enough about crypto to poo-poo it but i know that you're very against it so i oh i'm not very against it i'm waiting oh yes and no yes and no jess what's your opinion because like i'll give mine after this you guys know i'm relatively conservative and so for me crypto i don't love because there is not a lot of historical data. I find that it's a very volatile asset. I also just think that it's so hard to, it's like an NFT, right? Like it's very

hard to quantify the tangible value of that type of asset. And we saw how that went. Exactly right. As compared to a share where when I'm buying a share, there is a company that I can do research on. Like I'm, you know, I know what products they produce or what services they provide. Whereas more often than not, crypto is like this theoretical asset. And that's where I really struggle with it because I go, well, yeah, you can say this crypto is worth like a million dollars, but tomorrow someone could just turn around and decide, oh, no, actually just kidding. It's not. So I'm not anti-crypto, but it's not something that I personally choose to invest in. You're totally right. Like you can look at Bitcoin and all of those other things and go, oh, like

looking at how that went, like, do I wish I bought Bitcoin when it first came out? Obviously. but I don't think for me personally it's an asset that I would feel comfortable investing in and to each their own like we know that Brooke holds some of it from her episode. I also own part of that ETF but to be very clear that ETF is an ETF that invests in not cryptocurrency but rather the infrastructure that supports cryptocurrency so if a coin fails that infrastructure is still there and another cryptocurrency would start using it. Well, there you go. And so like that sounds like something

that might be more aligned to me personally, but to everybody's different. I just thought it was fun. It's not a very big part of my portfolio, but like at the same time, I find this space fun and want to engage in like what we call satellite investments

so that I can still be engaged, but also I'm not risking my wealth. Yes. Yeah, totally. Which I'm not here for. But exactly as you said, and we have seen it happen, like there have been court cases raised against influencers

who were promoting cryptos. There was pump and dump schemes. There was all types of things. Because it's an unregulated space, people can do whatever they want. And I mean, we see it in financial services more broadly on a lower scale because thankfully there is regulation,

but obviously not everybody adheres to it. But you can't, I know that this is going to sound deeply hypocritical because I'm saying it on a finance podcast, but you can't just take the advice from any person who's got a microphone or a camera, you know? And so you actually can't,

But it's true. Like any person with a little bit of charisma can get on TikTok and convince you, especially someone like me who is very. We honestly, Jess, we should have started a crypto coin. We should have started a multi-level marketing business. Yeah. Bring back Bitcoin. Like we should be using our power for bad.

Yeah. You know what I mean? Like I'm someone who's very trusting in what I see. Like I can be very easily convinced of things. And so any person with a bit of charisma can get on TikTok and tell you that this is the next best stock option. Totally. And if you're not someone who's doing your own research,

if you're someone who gets caught up in that, like I can be, it is really easy. And I can see how your partner could be going, oh my God, like we've got this goal that we want to achieve. This is a sure thing, basically, which is where exactly as Victoria said, you kind of are almost straying into gambling territory.

Like it is kind of scary. But you could win Powerball. I, you know what? I hope that I do. And I hope that everyone listening does too. That's not an investing strategy though. No, not at all. We say, generally speaking,

you shouldn't be investing for a short-term goal, regardless of what you're investing in. And I would argue that that applies to crypto as well. I agree. Take it away, VD. Not even take it away. I feel kind of mean, but also let's zoom out. So my favorite book when it comes to investing,

it's not investing by she's on the money. No, that's the best book, but not my favorite book is from 1926. and it's by a guy called George S. Klassen, George Samuel Klassen. And it's called The Richest Man in Babylon. You guys have heard me talk about this book before. And I disclaimer this book as being the most dry read of your entire life. But it is a fantastic book when it comes down to why investing started, how it works, what that looks like. We're not talking about the Australian in share market. We're not talking about cryptocurrency in this book. We are talking

about buying and trading sheep. We are talking about what old marketplaces looked like and how out of those marketplaces people built businesses. But then out of those marketplaces, people were able to trade and invest in different other businesses and create wealth for themselves, right? And that's why that's one of my favorite books because it teaches you the foundations of that. Now, you don't have to read that if you don't want to read the driest book in the entire world. You can, if you're on the same team as me and you're like, I just want the information. I would say it's not a big read. It's quite a skinny book. So it's not too overwhelming, but all of those principles are what I bring to She's On The Money anyway. So I think that you

would read this and be like, oh, that makes sense. And it's just validating. But one of the lessons in that book is you would never take advice from a bricklayer on buying diamonds. So true. And so if you were going out into the world and you wanted to propose to Jess and you wanted the biggest and the best diamond ever, where are you going? Who are you going to ask for advice? The same should be true with money and finance. You are coming to me and you're coming to this podcast, hopefully because we really ridiculously funny and we are so hot. But also in the background, sorry, I was a financial advisor who ran a very successful practice. I still hold a financial services license. I own a credit license. I run a mortgage broking business. I am in the

nitty gritty of this every single day. And do you know what? I want to get filthy rich too. Do you think that if that option was on the table and it was a genuine option and one of the best investment options out there, I wouldn't have already taken advantage of it? It's a great point. Have you ever met a financial advisor who is so excited about crypto because it is the best outcome? Have you ever met an accountant, a mortgage broker, a somebody who works in the financial services industry and knows it like the back of their hand choosing to put their wealth in crypto? And not to yuck people's yum. No, no, no. But like we are going back to the basics. We're not saying it is a bad asset class. I have already told you that I own an ETF that invests

in the infrastructure of crypto, because I do think that it is part of the way our future is going to be constructed. At this point though, you cannot bet on which coins are going to take off. Every man and his dog has a coin. Why are influencers influencing you so well that you're willing to risk your future wealth and you're not listening to experts? Because you'll never catch us saying this is the bet. Like we do the opposite. Like we'll say this performed really well go away do your own research like we will never ever ever I always say don't just listen to my podcast listen to every single other podcast on the market take my advice with a grain of salt because my advice is always going to be shadowed by my opinion and my conservativeness and wanting

to put you in the best possible position and all of that but like you might be introduced to another concept in a way that resonates with you better and you know what I don't care where you get that information. All I care is that you personally benefited from financial literacy because that's my mission. So I think going back to, is crypto a bad decision? No, not necessarily, but yes, it is if you're getting your advice from TikTok. Yes, it is if you're getting it from people who are not educated and have bought into essentially what I believe is a pyramid scheme of cryptocurrency because it feels like a cult and that influencer is making money on the referrals from you signing up that influencer is making money because every single time another person invests into that coin

it increases in value and they therefore have a more valuable portfolio like they are benefiting from this but they don't have the backing and that makes me so grumpy because they don't know what they're talking about but they will come guns braised and be like but see victoria the proof is in the pudding. Look, I've got all these people invested and our portfolios are increasing for how long baby cakes? How long is this going to work? How long is this viable? Is this even a good crypto asset? And then zooming even further out, if I sat down and I was having an initial meeting with a financial advice client way back in the day, one of the first things I would draw on my whiteboard is a little or a big L shaped graph. The first is risk on the Y axis and then

on the x-axis, I would have put reward, right? So reward is the bottom line and risk is the top line. And at the bottom here, you've got cash. Then it starts to increase in risk because the more risk you take, the more reward you could potentially get. And it goes cash, fixed interest, bonds, goes into Australian property, international property, Australian shares, international shares, diversified, you know, more exotic assets. And then all the way off the chart is crypto. It is very high risk. It is very high reward, but the idea, and I'm so sorry for this rant, but the idea that someone in my community would for some reason be the most comfortable with the highest risk and the highest reward asset class, and they have never invested before

blows my mind because we're putting the most at risk. And if that doesn't work out, you are going to run for the hills from investing in general. You are not going to be able to set future you up because you'll be like, I lost all my money when I started this investing journey and just write it off completely. When in reality, we'd peg you back. One of the questions when I do or used to do the fact find was, have you invested before? If so, what in? And every fact find that you will do or find for free online will always ask you that question because that plays into how much risk you're willing to take. So it's very uncommon when you would do a risk reward fact find sesh with a client that they would come out as super high risk super high reward

super aggressive portfolio you might find that they fall into the growth bucket and we're going to start there and then maybe over the time that we work with them they become super aggressive but like you never want to bite off more than you can chew or take on more risk than you can afford to take on right now you're telling me you have priorities like IVF and you are taking on too much risk. And it is not working out for you. Yeah. Do I hate crypto? No, but I hate it for those reasons because it doesn't put my community in the best possible position. You can tell from my tone of voice that I'm mad about this. Yeah, we're on a high horse. What did everybody else say? Oh, they had better, more regulated opinions than I. So first question we asked was, what would

you do if you were a community member? 44% said only let him invest his spending money. 28% said only invest what you agree on. 14% said deal breaker TBH and 13% said separate finances completely. We then said, how do you feel about crypto? 57% said it is too risky for me. 24% said interested, but don't know enough. 11% said, what even is that? And 8% said, I am already invested, which is absolutely fine. And then I said, as always, what's your two cents? First person said treat him like any other gambler separate your finances and get him help I mean sorry if you're taking advice from TikTok influencers that is gambling not investing someone else said maybe I picked this one because it supports my narrative the rest don't

equivalent of an MLM girly you have to look at what their advice is doing to benefit them absolutely yeah next person said my husband uses his fun money to invest in crypto so our goals aren't impacted he still has fun and it works really well for us next person said it took me 12 months research before i made my first crypto investment don't go off influencers because there will be people there i feel like we have to add a teeny caveat especially because we're also on tiktok that like there will be some people out there who don't want to talk to my financial services license well that's it i say the majority i think it's much riskier but always you're in research. Yeah. And like, I think critically looking at any piece of information

on the internet, I don't care if you're watching an influencer with a really sexy mascara. Why is she trying to sell that to you? Was it gifted to her? Was it something that she genuinely just loves and is sharing? Was it something that she's getting commission off product sales? Like, I just think being critical. Because none of those things are bad, but they can factor into how people represent. Exactly. And if you don't have all of the information on the table to make the decision that's right for you, then great. I love a good mascara though. And I do look them up on TikTok, but I'm always like, oh, why would you be saying that? And I look for like the paid partnership and the check things and like, oh, I actually prefer to find an organic opinion.

Okay. Next person said, my mum was scammed out of her super with crypto ATMs at the supermarket. They also got her on social media too. A side note, I think I sent you a photo the first time I ever saw. I did, right? An ATM at my local shopping center for crypto, which I boggled my mind. Do you know what my favorite thing is? You guys love a little bit of tea. So everyone is always in my personal DMs on Instagram, sending photos like that, or just tea about investment influences and stuff. It's so fun, but like also terrifying. Someone else said, and I thought this one was the tea. I worked at a cryptocurrency for a long time and so much is smoke and mirrors and unregulated financial marketing straight from the horse's mouth wow another person good advice said

only invest what you can afford to lose best advice i've ever received someone else said girl go into his settings and reset his tiktok algorithm while he's in the shower you literally and that's where i'll leave it videos yeah i love my girlfriend engagement rings, IVF positive stories. I love it. All right. Well, I am going to call it. That's where I'm going to leave it. I feel like I've been more than opinionated on this episode. So I hope the rant was appreciated, but also I think I need to calm down. I'm going to put you in the quiet corner for a little bit. Yeah, I'm just going to have a little bit of a break. All right, guys, we will see you bright

and early on Monday morning for a money diary. But till then, have the best weekend. Bye. Bye, guys. the advice shared on she's on the money is general in nature and does not consider your individual circumstances she's on the money exists purely for educational purposes and should not be relied upon to make an investment or financial decision if you do choose to buy a financial product read the pds tmd and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN 321 649 27708 AFSL 451 289.