She's On The Money - New year, new money story

Episode Date: January 7, 2020

Kinda catchy, no? 2020 is HERE team (and so is season two of the pod!), which means we've all got a brand spanking opportunity to start afresh financially... Join us as we reflect on the year that was, chat money stories and how you can redefine yours, helping you to achieve your most prosperous year yet! 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! Your hosts are Georgia King and Victoria Devine. 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 only and should not be relied upon to make an investment or financial decision. Victoria Devine is an Authorised Representative of Consultum Financial Advisers Proprietary Limited ABN 65 006 373 995 I AFSL 230323.See omnystudio.com/listener for privacy information.

She's on the money. She's on the money. Hello, and welcome to a brand new season of She's on the Money, the podcast for millennials who want financial freedom. This week's episode is brought to you by Shopback. Be smart with your online shopping and get up to 30% of your purchase back as real money. My name is Georgia King. I'm a writer and TV production assistant, and I'm someone who just really wants to lift my game when it comes to all things money. To do that, we've put our friend

and money expert, Victoria Devine, back in the hot seat to help us clean up the money side of our lives. Think of Victoria as your wiser, older sister. She might drop some truths when we aren't quite ready to hear them, but she's always got our best interests at heart. And we're all going to be in better money positions because of it. She's on the money is a no judgment zone. We're not here to make you feel bad or like you're behind. We're here to make you feel included. Like money is something you should be talking about from saving to spending to why the hell investing is absolutely essential for everyone. We're here for you. We've got your back. We're going to support you, uplift you and educate you because you're not in this alone. Every week,

we'll be sharing tips and tricks so you can be better at money. We've got an incredible Facebook community where you can share your money wins and confessions, plus an Instagram page that'll help keep you motivated or at the very least make you giggle over a few cheeky money memes. And we've got a newsletter that'll keep you across all you need to know. But for now, let's jump into the much awaited second season of the show. G'day, Victoria. Hello. Welcome to season two, mate. So excited to be here.

As always, it's time to chat money wins, money confessions. How'd you go this week, Victoria? So I actually have a money confession for you. Sorry. Not that naughty, though. I think it's something that a lot of people might have been doing over the last couple of weeks. We've had a lot of time off, which means I've had a lot of time to socialise and I've been going out a fair bit more than I used to. So more brunches and lunches and casual coffees with friends before we all go back to work, which I have enjoyed to the nth degree. But it definitely wasn't in the budget. And I know I've probably spent a bit more than

I probably should have. Yeah. I think we all kind of do that in summer, don't we? Especially in Melbourne. Yeah. And maybe I could have been a little bit more conservative with it, but I definitely enjoyed it. So maybe it's a money win at the same time. It's a little bit of a budget splurge. Absolutely. What have you got for me? Well, mine is a money win. I mean, it was still kind of expensive, but recently I went to a music festival. Oh, fancy. Thank you. In the lead up, I wasn't sure I was on the fence if I was going to go or not because these tickets to music festivals as i'm sure they are so pricey they're very this one was like 400 oh my gosh and you know it's it's an amazing weekend but it's a lot of money to fork out plus you're spending money on

outfits booze food all that jazz anyway i'm negotiating with a girl on a ticket price the day before the festival and my brother messages me i've got a free ticket for you george are you interested yes i'm interested took that on board saved 400 it's a money win victoria that's probably a money win that covers both of us. Thank you. Yeah. Yeah. Like I'm going to claim some of that. I wasn't at the festival. It was a great time. Yeah. I probably wouldn't look like I fit in at a festival, but I'm going to claim that money win to make me feel a little bit better about my money conversion. Thanks girl. So Victoria, it has been a great week for so many of the She's on the Money community members. I've seen money win after win in our Facebook group and I

am continuously impressed, proud, motivated, all of the things. So as always, let's share our favourites from the week. What stood out to you? Do I get to go first? You can go first. Winning. All right. So I have one from Jessica and she sent through a post recently that said, growing up, I didn't have the opportunity to have these conversations with my parents. I'm assuming she's referencing money conversations here. It wasn't something that was really spoken about. And then Jessica went on to say that more recently she started thinking about her money story and has been feeling really empowered in regards to her money choices and said she feels so much more in control. She said that it's a beautiful thing and that she now feels interested

in watching her money work for her rather than her feeling like a slave to it. Um, congrats, Jessica. That's amazing. Absolutely. That's what I want for everybody in our community. I feel like there's been so many other money wins this week though. What have you got for us? So my money win is from Thomas Cena who wrote, my partner and I needed to buy an appliance. So we had a look around the shops. We found the one we loved, looked it up online, found it on catch of the day for $30 cheaper, then used ShopBack for 5% cash back and signed up for free shipping. So they saved heaps there. That's so savvy. I wish I spent more time researching my purchases. I could have got $30 off plus 5% cash back. Plus free shipping. Money win. So now that's out of the way, Victoria,

let's jump into today's show. Today's show is really, I guess, about using the new year as a opportunity to redefine our relationship with money. We already know that one of the most important things we can do to improve our financial situation is to identify our existing relationship with money and how it makes us think, feel and behave. But what next? What comes after identifying what our money story is? Victoria, can you please give us a quick little refresh about what a money story is and why it's so very important? So I won't harp on about this too much because we actually did a whole podcast on what money stories were. But a money story is all of the conscious and unconscious beliefs and values that you have about money. So how it makes you

feel and think and behave. It can tell you a lot about yourself and it can guide what you believe is actually possible. So more often than not, our money stories are negative and they often get used as an excuse for not taking our financial health seriously, which often means that we're consistently stressed when thinking about money and we don't actually end up taking control of our situations. So we actually all know what we should be doing. Don't spend money on the things that you don't need and don't charge up your credit card. We're all told eat meat and vegetables for dinner, not chocolate cake. But that doesn't always mean we do the right thing though, does it, George? No, it doesn't. Chocolate cake for dinner is always a vibe.

10 out of 10. I'm actually really good at cereal for dinner as well. So sometimes we do manage to stay on track and we don't overspend on our credit cards or eat cake for dinner. But then something happens and we might not even realise that there's a correlation between how we spend our money and how we feel. So for me, it's incredibly important to get on top of our money stories, to not only understand them, but to be able to rewrite them if we're in a situation where we want things to change. And what a better time to do that than the start of a year. Victoria, have you seen a trend of people wanting to change their money stories? Yes, absolutely. So I think we have a really special space in She's On The Money where people can actually talk about these things. And it's

often not until someone asks you what your money story is that you think that it's a thing, that you think it's something that needs changing or even needs consideration. So over the last 12 months in the She's On The Money community, and I think more widely, I'm starting to see lots of articles about money stories and your family financial history popping up. And I think it's really important to start having these conversations that we always should have been having. So we're in this position where people are now just becoming more aware and more educated on the fact that a money story exists and they're going, wow, that actually does impact me. Or wow, my dad never wanted to have credit cards, therefore I don't want to have credit cards. Or hey, my spending

looks like spending lots on a credit card, therefore where does that come from? So you're getting people to be a little bit more reflective, but it's not until they're prompted that that needs reflection on that we're now starting to have these conversations. So I think it's a really good time to be talking about changing that. But I also want to acknowledge that we've had so many people recently changing their money stories for the better. There are so many great news stories at the moment of people changing their money story for the better, getting out of mass amounts of debt. And I'm so excited to bring some of these stories to the Money Diaries section of our podcast over the next few weeks. So keep an eye out. But I think it's really great that there are

so many people taking charge of their finances by transforming their mindset eliminating their poor habits and identifying their long-term goals and actually working out ways to achieve them so changing money stories is not just about going all right well this is what I want my life to look like it's actually about saying well this is actually achievable for me and these are things that I can actually do to be stepping in the right direction instead of staying still because I think often a lot of people get a little bit of analysis paralysis where there are too many options or too many things to consider. It gets overwhelming. So we don't actually move forward. So can I ask you, Victoria, about how we go about rewriting our money stories? Like, do we sit down pen and paper

and define our story and what we don't like about it or what we did wrong in 2019 that we'd like to change for the next year? Or do we need to see a financial advisor? Like, how do we actually reshape and redefine our money stories? So money stories actually start with you. So you don't need professional help to go and work out what your money story is. It's the thing that shapes our financial reality, but it's also the one thing we have complete control over. Because of this, awareness is the key. So you understanding it and being open to change is the most important part here. So it's not about saying there are right and wrong. I don't believe that there is anything that we've ever done badly. We're all on a different journey. We're all on a

different path. We might've had some missteps and misfortunate things happen to us, but we all have the same power to change our financial situation as the next person. I think it's also really important to realize that our money story can't be compared to our friends or other people's, even your siblings who might've been brought up in exactly the same way to you have a completely different experience of the same situations that you had. So being in a position where you are thinking about your money story but not comparing it to the money stories of others is really important when we sit down here because more often than not the person that will be the harshest on you is actually you. So I think we also need to look at our money stories and be a little bit

kinder to ourselves and say I'm actually on the right path. I'm actually moving forward and these are the steps I'm making. They might not be the same steps as other people but they are the steps that are in the right direction. So how do we understand where our story actually comes from? So given most of our spending and saving habits have come from our parents or the family that surrounded us, I think it's important to sit down and have a think about how they managed money. What's your earliest memory of money? How was it talked about in your family? Were you in a family where your parents didn't talk about money in front of the children? Or were you in a family where your parents gave you pocket money and taught you how to spend? So just understanding

what that actually looked like and drawing in on your own life and your own experiences to work out how your money story has been shaped is really important. So this is, again, just about awareness. So how do we unhook ourselves from the money habits that don't serve us and pick up money habits that will? So Victoria, our story doesn't have to define us moving forward, right? No, it absolutely doesn't. And I think another important point to make here is we need to also ensure that we're disassociating our self-worth from our net worth. If you're someone who is equating your self-worth with financial security, that's actually quite unhealthy. So whilst we are all in this together and we are all striving towards financial freedom, you can often feel

really overwhelmed. And when you're buried up to your neck in debt and you don't feel like you can get ahead, you feel hopeless and a little bit stuck, the thing that will keep you from taking action is your situation that's the thing you're going to blame for not being able to move forward and I think we need to look at it and say debt does not mean you're a bad person being a little bit behind does not mean you're a bad person and not having the same money story as the person sitting next to you doesn't actually define you is really important and once you're able to free yourself from the negative emotions that are associated with having debt or you know poor money habits you can actually open yourself up to change but that's a choice change is a choice

So would you say, Victoria, that if change is a choice, that I can just I can just choose to change my money story? Like, is it that easy? Just faking it till you make it? Like, how does it actually work? How am I? So it's obviously not as easy as that. I wish it was. But because people act on the things that they really believe in, it's important to identify those things that we believe in.

It's important to start doing the things that actually align with your ideal money story. if the thing that is making you feel bad about you know your money story and your future wealth is spending too much on the weekends that could be a small step towards a bigger picture I'm not expecting anybody to go all right well I need to change my money story immediately and they pick up a new budget and absolutely rewrite every aspect of their life yeah I think that there are so many good things about people the thing with money stories that you don't like is that we are spending more than we're earning and we just need to change that. So there's nothing negative or positive about that. It's a simple fact that you are spending more than you are

earning and we just need to change that so that you are more financially secure for the long term. You are not a bad person or a worse off person for those choices. It just means you hadn't changed things yet and now you are. So being able to align to the things that are most important to you will actually prove that your old story wasn't your truth. And it shows you that you're in control of your future. And if we start small, it's kind of like positive recognition along the way. We can start small and see that we can achieve these small things. We're more likely to bite off a little bit more each time. I think it's important to not bite off everything all at once and think that we can do it and actually change. It's important to

recognize that your current money situation only exists because of the choices you've made. And it means you can actually make new ones and create a new money story based on the choices you want to make moving forward. So as much as that sounds quite simple, it can be really complex for a lot of people. And I also need to recognize there are a lot of people who are in sticky situations that they can't change immediately. But this is also a lot about mindset and making the best of a situation and saying, all right, well, what have I got and how do I deal with it? How can I make this work best for me? Or how can I change this a little bit so I feel more empowered instead of overwhelmed. Now that it's a new year, it is the perfect reason to buckle

down on your finances and ensure you're making the most of your hard-earned money. If you're looking to book travel, buy your weekly groceries, or update your wardrobe, essentially any online shopping, you need to be doing it through Shopback. If you haven't heard of Shopback before, it's essentially a website or app you shop through to get up to 30% cash back on your purchases. that's online purchases from over 900 brands including the iconic booking.com maya and deliveroo if you're wondering how shopback can give you free money on your online shopping it's because the brands pay shopback a commission when customers shop through their website and app and then shopback shares this commission with their customers and i've got an exclusive 10

welcome bonus just for she's on the money listeners head to shopback.com.au forward slash S-O-T-M. It's free to sign up and I'll make sure these details are in our show notes for you guys too. Happy savings, guys. Hi there. You've reached the She's on the Money mailbox. Do you have a money problem you want help solving? Do you have a money dilemma you just want to chat about? Victoria is here to help. Every week, we'll be playing your questions to help make sense of a money mess you may have found yourself in. Make a quick recording on your phone and send it through to podcast at shesonthemoney.com.au and you might find yourself on the show. But for now, here's today's question. Hey guys, I've got about $5,000 left on a personal loan and I'm

working really hard to get it down. I just seem to be getting nowhere. In reality, I know that I have paid a large chunk off the loan because it did start out at $20,000, but recently I haven't really paid anything off it. I've never really been good with my money and when I have it in my account I just feel like it's burning a hole in my pocket and I just want to spend it. I've set my goals for 2020, worked out my budget but it just doesn't seem to help because when I'm in the moment they all just go out the window. Each month I have big plans to save my money but I'm just not getting anywhere. As soon as I make one bad spending decision for my pay cycle it seems that the whole fortnight is a write-off and I just keep spending everything that I have.

I just honestly don't know how to fix this. I do want my money story to change. I just don't know how to make this happen. I want 2020 to be an amazing year for me financially, but right now it just feels so unachievable. I know this really isn't a specific question, but is there something that you can help me out with? Thanks, guys.

That's a hard one, Victoria. Yeah, she's in a really tough spot. How does she get out of it and how does she redefine her money story, dude? I think you need to be really willing to forgive yourself. you're never going to be perfect off the bat. Rewriting your story doesn't actually happen overnight as much as we would all like it to. And we do encounter some hiccups. It's like going on a diet, right? And blowing out one weekend and then going, oh, well, I'm never going to lose weight. I think that being in a situation where you're changing your money story, it's about the

journey. It's not just about the destination or being right or wrong. Sometimes we blow out. Sometimes we go out for dinner with friends and order that extra glass of wine. But the next day, we should just be able to pick ourselves up dust ourselves off and move on to the next best thing even if that means sometimes we take two steps back to move one step forward so for me forgiveness is the key around long-term success and having a positive money story doesn't mean that we're going to be completely free from problems or pain it's just more about developing a strong mindset so we can understand that we are actually capable of these changes and I think that if she could reach out to even a couple of friends and start discussing that money story and saying well hey

I'm struggling here maybe she'll have some friends that can help keep her on track so when she messes up in her eyes her friends are there to be like that is not as bad yeah as you think it is I see it all the time as well like people hold themselves to these really high standards it's it's unrealistic unsustainable and then they get angry with themselves and they're back to back to square one back to square one is what I was looking for it's a bit like that so I think it's important that when we start trying to change our money story, we start with really small steps. So trying to make over all of our bad financial habits or habits that we just don't like can also backfire on us. Because when you fail, you often retreat to the ways that you were at

before. It's so much easier because the ways that you had before that you have now, they're comfortable. Being comfortable is of utmost importance to us as humans. So often changing a money story can be a little bit uncomfortable. So it's about becoming comfortable with the uncomfortable. And it's a lot easier to commit to small scale change than a complete life overhaul. So I think baby steps are the way forward instead of committing to an entire financial overhaul. And I think that's what we need to be really focusing on, especially coming into a new year. We all have these new year, new me kind of vibe. And we all commit to these changes because a new year has come upon us and what happens in February we fall off the bandwagon again because we've

often over committed ourselves so I think it's about the small steps so for example if you typically go out for dinner three times a week I wish I did I think it's more about cutting back and saying well what can I do to make it two or what can I do to make it one instead of saying to yourself all right I'm in a situation where I'm used to dining out I'm going to completely cut that. Yeah. It's not sustainable. It's not sustainable. So what can we do that over time makes our habits start to become better habits instead of cutting things out completely? More about sustainability. I also think it's important to talk about accountability and we can talk about this later, but writing down your goals means you're actually more likely to achieve

them and share them with people. If you've got friends that don't want to listen right now, you can share it in the She's On The Money community because we are here for this. yes totally here for this but these actions are actually going to make you more likely to stick to your goals and that's what we're about okay now for the fun stuff what good would a money podcast be without the pervy stuff now it's time for money diary let's get into it hello i'm 25 and Sensible. Today's Money Diary is from 25 and Sensible, who's a little bit of a savings wizard. So my mum has never had a credit card. And when you hear about other influential people or other parents in your life, they say, oh yeah, put it on the credit card, put it on credit card. So as a

child, in growing up and understanding what a credit card was, mum explained to me, it's money that you don't own, it's money that you borrow, and then you have to pay back. And so that sort of that influence I guess effectively influenced me to not want to have that kind of money. Having studied economics I've always been fascinated about where money travels around the world and around the economy and as a young child I used to think if I hold on to this ten dollars and don't spend it on lollies where could this money go but if I give ten dollars to the shop what's that shop going to do now with my money and they're going to use it and find it more useful than me holding on to it. So I've always been fascinated in that kind of sense of where

money floats around the world and that sort of I guess inspired me to hold on to my money more as well. I do not like relying on anybody else for my money whether that be my boyfriend, my parents, any other family member. When I'm out with friends I am very measured in how the group situation works when it comes to money and I'm pretty careful with that kind of spending. I don't often like to pull money together and just lash out and spend because it's often harder to take control. I feel like I learnt about money as a young age in the freedom it can bring you so that I've never wanted to rely on my parents in that way. I got a job when I was 14 years old and always have wanted to pay for everything myself. I'm currently working as a

graduate in the insurance industry. I've been doing this for the last two years. So this has been my first sort of full-time job since finishing university. Okay so now we know what she does let's get into the juicy stuff. How much does she earn and how much is sitting in her bank account right now? So I currently earn $65,000 a year which also includes superannuation and currently I have saved around $44,000. Currently my super is invested with my employer's superannuation fund However, I have been a bit slack lately and still need to combine all my superannuations together because I know that having them in separate accounts is not beneficial for myself. So that is something I actually plan to look into over the next few weeks to sort of knuckle down into that.

And what exactly happens to that money after it's deposited into her account? I keep good control of my money as it comes into my bank account. I have three different accounts set up. I have a big savings account, which I keep the bulk of my savings in. I get paid into a middle savings account where all of my pay goes into. And I also have a spending account. So each time I get paid, the money comes into that middle account. I then separate what I would like to choose to put away into my big savings account and what I would like to choose to put into my spending account. However, this spending account, I don't often touch until I actually need the spending money.

So I prefer to have sort of that middle account as that safe, secure sort of some money there for the next month or two weeks. And when I'm out or when I have something that I know I need to put money aside for, I will transfer across that account. So if I'm going to buy a birthday present for a friend, I know that I'll need to spend X amount that I'll transfer across that account. And for me, that's a way of controlling my spending in a day-to-day scenario. So if I already have the money there in that spending account, then I'll lose control of it and I won't be able to hold on to it as best as I could. Okay then, so how does 25 and Sensible feel about investing? Does she invest? And if so, how? This is actually an area I had been thinking about quite a lot in the lead up to this recording. I don't currently invest a whole lot. Obviously, I have my bank account that's growing its own interest in savings.

I do have an employee share scheme, which I don't know a huge amount because I've only just taken that on in the recent weeks, but I'm definitely keen to learn a lot more about investment in the next couple of years, especially as my financial situation changes. What about debts like credit cards or personal loans? Personally, I'm a big hater of debt, so I try to avoid it at all costs. The only debt I do have at the moment is my HECS debt, which I wanted to get an education, So this was worth it in my mind when taking university education into account. I guess from a young age, I've always understood that it's not good to have a credit card. It's not good to have money that's not yours and just go ahead and use it.

So I've always understood how that sort of works. I did have a credit card at one stage when I went on a Europe trip, which I never used. In that case, the bank actually suggested I took it for a smaller limit of $1,000. I then used that card a couple of times by accident at the supermarket and quickly paid the debts back straight away. And then I cancelled the card because I didn't like the fees coming out when I wasn't using that credit card and have since never felt the need to use a credit card. So I tried to avoid debt.

Obviously, I will probably have one in the future for a house or another living arrangement. but yeah not a big fan of accumulating debt. Does our sweet savings wizard have any good money habits that she's especially proud of? Oh money habits there's a few different ones that just kind of fell into place through how I was influenced I guess as a child but also hobbies I guess as well. I love finding great clothing at op shops. It sounds strange but I often find things that are to my taste and my liking that don't necessarily look like they've come from the op shop or there might be something brand new that I found. This top in fact is from the op shop. So I feel like those are money wins. I don't necessarily go shopping all the time.

It might be I just because I don't have necessarily an interest in I don't know just buying tangible items that doesn't give me a lot of satisfaction. I prefer to sort of put my money away for future. Another thing is I've never really been a big fan of spending money on exercise because I've always thought, I don't know, it's just like at school, I always ran a lot and I always enjoyed swimming. So I would do that, I guess, at the beach a lot as well. So I still do a lot of running. I still do a lot of cycling. I like to take those sports in a weird way, I cycle to work and sometimes run to work. So I guess I save on transport in that sense as well. And what about her worst money habit? I think although I touched on how I like to

have my own spending, be in control of my own spending at social gatherings and events, I think sometimes when I'm in the mood, I do lash out a little. So if I'm with my boyfriend and we are going to the movies or we're going out for dinner, I'll often shout drinks as well. and then I'd like to go get ice cream on the way home. So I think it's in those certain scenarios that's probably my bad habit or if it's a wine weekend away or something, I'll often think, oh, I don't often do this and then I'll spend a little bit more. Luckily that doesn't happen too often.

So what's today's money diarist actually saving for? What's her big money goal? My current saving goal, I haven't clearly defined exactly what I've wanted to save for. however in general my goal has always been to accumulate savings in my account for my future self so even though I don't have that clearly defined I've always wanted to put some money away because eventually I'd like to buy a house or build a house or do something of that like that is a big investment that will be meaningful to me and at the moment I haven't made up the decision

of what that is but I've always known that for my future self I will really thank myself one day that I've put this aside. So that's sort of been my motivation to always have those savings. And 2020 is here. Will 25 and Sensible change any of her habits for the new year? In 2020, I would really like to change my habits in a way that incorporates some professional financial advice. I think being a listener of She's On The Money, I've barely been inspired by what I can do and what I should be doing more of. I would like to, as I mentioned, put all my superannuation together and also really attack budgeting. I would really like to get into spreadsheets more. I'd like to budget more for my supermarket spending, even

that kind of thing. And also putting away savings for other bigger things such as holidays and Christmas and really working that out earlier before the time comes. So how would today's money diarist rate her own relationship with money? Oh, if I had to rate myself, I'd probably give myself maybe a B or B plus because I still haven't quite worked out where my money is going for the future in terms of investment and how to get the best out of it. However, I feel like I'm pretty on track and pretty happy with the way it's been tracking in the past. How good was that? 25 and sensible. You put me to shame. I love her.

I also think, and I feel like I say this a lot about our money diarists who are savvy little savers, I think she is too harsh on herself. Her rating should have been like an A. What did you say, a B? I say this a lot about our money diarists because I think that they're all doing so much better than they think they are, but I also want to be respectful of where they think they are at because if she said that she's a B and she feels like she needs to get her super together

and wants to get financial help, imagine how great she's going to be in the next year. Yeah. What does an A-plus look like for 25 and sensible? Jeez. Amazing. And as much as I don't love that she has her superannuation spread out across other places, I liked that she understood that that was something she needed to change and wanted to get help for that. I think it's really important when talking about superannuation that we don't just jump into consolidating our super into one account. There are so many things we need to take into consideration when looking at superannuation like fees and performance of the fund, but also,

and most commonly forgotten are the insurances that are attached to the super fund that we lose if we roll out of a super fund without any consultation with a financial advisor so as much as you can absolutely roll together your super on your own through the mygov account I think it's also worth having a quick chat with a financial advisor to work out what the best possible outcome for you is and she was totally on track with that absolutely I loved her quirky little habits like shopping in op shops and getting fulfillment out of that you know you get one off pieces that no one else is going to be wearing. A very sustainable way to shop. Also running, riding her bike to work is amazing. Not paying for your marquee, which, you know,

adds up. It totally adds up. And I feel like I need to take a leaf out of her book because I'm really good at paying for exercise that I do not do nearly as consistently or regularly as I should be. So paying for exercise coming into the next couple of months where it's going to be really nice outside. Maybe I need to evaluate what I'm up to. I also love that she said that she wants to see a financial advisor to get advice on her money, knowing that she doesn't know what she wants to do with it. That's such a great way of making her money work for her instead of her consistently working for it. She is so young and has so much opportunity ahead of her to take hold of. And the sooner she gets into the investment market, whether that is shares or property or

some other form of investment, it actually doesn't matter. I think it's just important to get educated and start talking to people. And she seems to be on the right track. She is definitely on the right track. Well done, 25 and Sensible. And that is all we have time for today. But before we head off, let's quickly wrap the boring but important stuff. 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 only and should not be relied upon to make an investment or financial decision. And don't worry, we promise Victoria Devine

is an authorised representative of Consultant Financial Advisors, Proprietary Limited, ABN 65006 373 995, AFSL 230 323. And, of course, thank you to our lovely sound engineer, Chris Burke, for making us sound so very fabulous. We would love it if you joined our Facebook group, where our community shares our money, wins and confessions every single day, free of judgment. search she's on the money on facebook and join us if facebook's not your thing you can also find

us hanging out on instagram we're at she's on the money aus see you guys next week bye