She's On The Money - She's On The Money Radio Recap -

Episode Date: July 23, 2022

Join Victoria Devine and Mitch Churi to roll into your weekend right on She's On The Money Radio!On today's show we've got Super Saver Saturday, and our Money Dilemma this week is from Bronte who wants some tips on Paid Parental Leave. Plus, with the news media stressing us all out with interest rates and cost of living, we’re going to debunk some of the headlines in a new segment Calm Ya Farm!All this and so much more on She's On the Money Radio!You can catch us live on the KIIS network, or listen to your heart's content via the iHeartRadio app every Saturday from 9am - 10am.See omnystudio.com/listener for privacy information.

On air and iHeartRadio, Money, Money, Money, She's on the Money Radio Show, Money, Money, Money, with Victoria Devine, starts now. Hello and welcome to the She's on the Money Radio Show podcast, the podcast for millennials who want financial freedom. You got it right. Yeah, but then even when I do, you usually tell me it's not just for millennials or it's blah, blah, blah. So, what's your constructive criticism or how I can be better tip this week, Victoria? No, I don't have any advice for you. You are perfect this week. I've got advice.

What is advice? No, no, we didn't ask. I actually want to hear this. All right. Instead of ordering a McFlurry at McDonald's, which averages around four bucks at the moment with inflation, probably five, you order a 30 cent cone in the Sunday lid and then they put toppings on it and it's still the same price as a soft serve, but it's the same volume as a McFlurry.

You're welcome. They don't even flurry the McFlurries anymore, honestly. No, they don't. They've stopped flurrying. I'm boycotting the McFlurries. What is flurrying? You know how McFlurries, right? They used to get that spoon, the square spoon,

and they'd put it in the machine. It was hollow. Yeah, it was hollow. And I never understood why the spoons were like that. And they would put the spoon in with your toppings and, like, flurry it around. What? They don't do that anymore.

They just put some soft serve in a cup, chuck some M&M's on the top, and chuck that spoon in there as a sick joke to let you know that your McFlurry was never flurry. Wow, that is actually ridiculous. To be honest, I'm sad about it. Put some effort into a McDonald's. Can I be honest too?

I'm all for saving the turtles, but we need to rethink the paper straw. Because I get two sips in, then all of a sudden I'm sucking on a crumpet. Like it's disgusting and soggy and wet. Soggy straw is not it. Given things like bamboo straws exist, there's those sugar cane straws. Like there's so many other options, yet they chose paper as some kind of sick joke. Okay, I'm glad. Like, that could have been so misconstrued

if somebody just came in late then and what the hell we were talking about. No one comes in late to a podcast, Trav. No one comes in late to a podcast, Trav. Sometimes I don't listen to what's actually being said. I don't pay attention, guys, all right? You need to be paying attention, though, because our She's On The Money radio show this Saturday

was an absolute cracker. We had a brand-new segment because people are just going crazy and they just need to calm your thumb. I feel like this has come out of me ranting on my Instagram stories so many times and our producer saw it and was like, yeah, that's good content. Let's just chuck that on the radio. You mean like the one that you did this week

that caused a little bit of a stir in the news, mate? All I do is cause trouble on the internet and I don't even mean it. Like, I'm just posting my experiences and people get mad about it. It's not my fault. Have a listen to a, not Victoria Divine, more like Victim Divine. Sorry. You don't have to say everything that you think, though, Victoria. Just putting it out there.

But it's how it got me here. So maybe I do. Speaking of how you got here and why, you are great at solving people's money dilemmas. If you're thinking about getting pregnant or maybe you're pregnant at the moment... We're going to talk about paid parental leave and the minimums. I feel like it's a good topic because it's one that confuses everybody.

TLDR, check your contracts with your employer because that will guide what is actually going to happen for you. Every single person's like, oh, babies cost me so much money, but you're going to make them money. They do. And do you know what? I was talking to my girlfriend Phoebe the other day and Phoebe owns a company called The Memo,

which is a really big baby company here in Melbourne that is starting to take Australia by storm. She is an absolute legend. She owns that with her friend Kate Casey and I'm obsessed with them, but I'm going to do an episode really soon on She's On The Money about how to afford a baby and what it cost Phoebe because Phoebe's just had a baby,

about what it cost her and what she had to fork out and what was worth paying for and what wasn't and I think that'll be a really good episode for She's On The Money because I don't even know what a baby costs. I just assume they're really expensive. I thought it was like $100,000 a year or something. Oh, I don't even know what it is. Oh, my God.

But I just feel like babies are so expensive and I say that as the only experience I've had of purchasing baby stuff is those expensive gifts you get when you go to baby showers. My favourite thing is there, when I said $100,000 a year, our producer, Richie, whose partner is about to have a baby, he just, you saw that, Hello, darkness, my old friend, playing as he was like... His little face went white.

Yeah, he's seriously rethinking his life right now. Richie, how much has your baby cost you thus far? Oh, probably $20,000. Holy moly. Just the start, mate. That was an expensive decision. Could have sold it with a bug, mate. Move on before she comes for us.

Sorry, Jess. Something that's not going to cost you anything. Going to save you a bunch of money, actually. It's the She's On The Money radio show right now. This is She's On The Money radio show. Yeah, she's on the Money Radio Show with Australia's number one finance podcaster, Victoria Devine. Mitch Turi as well, guys. We're doing it all thanks to Budget Direct, winner of CanStar's Insurer of the Year 2022.

Budget Direct Insurance, Seoul, Victoria. What legends. I feel like they are good eggs doing good things. But speaking of good eggs doing good things and the opposite of that, news media is pretty cooked and it's stressing everybody out. with news headlines all around Australia talking about the economy, talking about lettuce, talking about the cost of fuel, and I feel like we are all getting pretty stressy.

So I've collected a few example headlines for you guys and you're going to tell me how much fear they instil in you. So first one, Big Bank's shock prediction. Zero. That could mean anything. Like, that is so vague. And can I just say, the media give the bank so much press. There's press releases. I don't even know what the RBA is.

Everyone's talking about it. I thought that was a hospital in Sydney. Everyone's like, the RPA have made a big decision. I'm like, what, have they got new beds or something? No, that's RPA, Mitch. The banks are scary in my mind. Anyway, give us another one, Victoria. What's the next one?

People are talking about crypto coming back after a massive plunge. I just feel like it is instilling fear for no good reason. And another thing that I got really under my skin about 18 months ago, which you guys probably will remember, is when all through the media people were talking about the soaring prices of afterpay shares. And we're not talking about after pay as a product. We're just talking about people investing in them as a company.

And as a financial advisor, I was like, so what? Why? Because they're not even profiting that much to justify the share price that exists. They've never paid a dividend, which is an amount of money that you get paid if you're a shareholder in that company. Where's the value here? Like, why would I do this? And then now it's completely come off and everyone's complaining that they've lost money

on those shares and they thought it was a good idea. but they thought it was a good idea because they saw it in media, not because professionals were talking about it. It's all about the hype, right? Exactly. And you also look at what happened pre-COVID. Do you remember pre-COVID? No.

Oh, you don't? It didn't exist? No, it's a bit of a blur, to be honest. I'm with Trav. I've locked it out as well. But let me refresh your memory. Before COVID, all through the newspapers, we were talking about how property was going to plummet

and people were going to get cheap houses and cheap apartments and it was going to be a buyer's dream, right? That haven't? No. What are we talking about now? It's not that sexy to talk about how property didn't drop. So there's no articles on that. In fact, I found an article a little while ago in a newspaper, pretty much at the very

back of it going, property prices have remained stable. And I'm like, yeah, I know. It makes sense. So it's one of those things where you're just like, the media talk about things and instill fear in us. And I think we need to be really careful about what we're consuming and what we're believing and what we're not, because it actually ends up impacting our mental health and how we feel about things and the decisions we make around money and that gives me the ick yeah i will just

say i'll give the media one credit here the price of lettuce is ridiculous i can barely afford a cheeseburger which is a travesty at the moment guys i've gone back to frozen spinach i will not be buying lettuce like if you want a salad at my house not happening here have a frozen block of spinach because that's all that's why she's not doing her morning poos trav because she's all popped up from the spinach it all checks out i'm putting spinach in my smoothies i am absolutely regular if you follow my instagram stories you know i love a good metamucil okay calm your farm victoria and the media all right let's do this 131065 give us a call right now have you seen a news headline and you've just thought to yourself calm your farm if you have 131065

we're going to take your calls next right here on she's on the money radio show for your saturday morning this is she's on the money radio show for your saturday morning it's she's on the money radio show with australia's number one finance podcaster victoria divine that's you oh spicy i feel like there's nowhere to go from there honestly except for down yeah speaking of down the share market right now oh i was gonna say like mitch churi who's on the show as well i'll take that but i am up i'm in such a great mood to be here with you guys we've got a great show yeah i love saturdays we are doing this news media is pretty cooked at the moment i feel like There are headlines coming out my ears about how bad the economy is,

how expensive lettuce is, what the cost of oil is, what petrol looks like, and I'm just overseeing the media, overhype things to terrify us. So we're going to get some people to call through and tell us some headlines that they think people need to calm their farms about. Victoria, what are you doing, mate? There's no need to talk because we've got this.

Calm your farm. That is art. It's glorious. 131065 is our number. Give us a call right now just like Tommy has done. And, mate, what do you think the media need to calm your thumb over? All right, well, there's this dude. He calls himself the Slum Doge Millionaire.

He's a young bloke. He lives in Vegas. He made a million bucks off this thing earlier this year called bloody Dogecoin. And now, yeah, he's lost 80% of it. I'm pretty sure he doesn't count as far. Slum Doge Millionaire. Slum Doge. I love the confidence in that, though.

Like, imagine naming yourself that. And also, I don't mean to be a bit rude, but, like, property prices in Melbourne have just hit an average of, what, $1.1 million? So is that even that much money nowadays? No, no, no, no, no. It's like when they got million-dollar listings. It's like, well, hang on a second.

That's just a regular little box of crime. That's a unit, yeah. Like, slum-doge millionaire. All right, I love it, but I also just feel like that gives me the ick. Yeah, and you know what, media? Calm your farm! Calm your farm! Yeah.

Speaking of, Indy, you think the media need to calm down with property. Oh, my gosh, yeah. I am so sick of seeing some 20-year-old being able to retire because they've got a billion-dollar property portfolio or something like that. Those stories are everywhere, all the time. Indeed. It's actually really easy. All those guys did was stop eating avocados

and now they can afford property. It's actually just basic maths. Yeah, I went to a cafe the other day and I saw on the menu that the smashed avocado was $27. What? And I was like, no wonder we can't afford property. Oh, my God. Yeah, not great.

But at my local supermarket, avocados, money win, dollar. You know what you need to do, though, Victoria? Buy those $1 avocados, make your own avo smash, charge $25, no, $25, undercut those people. Or undercut them, and then after I've undercut them, I can afford a house, is that right? Money win. Come to my house, I'll sell you some avo.

But I'm kind of sick of seeing these million-dollar property portfolios as well from young people, because you also go, I know mum and dad helped you out there, sir. Oh, that's exactly it. because where are your parents? Hey, on 131065, we are taking your calls right now because we think the media are just blowing up headlines and they need to calm your farm.

Right, Dave, you're hating the Dow Jones, mate. Talk to us, buddy. What's wrong? Every single morning, they're going on about it. It's up, it's down, it's up, it's down, it's up. Get these guys something to flatten the mouth. My favourite thing about mediocre middle-aged white men talking about finance is they always like to throw

those terms and acronyms around to make themselves seem smarter and it's like, OK, Dow Jones is just the average of what the market looks like. It's not actually that exciting. Is that what it means? Yeah, literally. Wow. And how aggressive was that for a Saturday morning from Dave?

That's who I am as a person. I feel like Dave and I are two peas in a pod. There's kids in the car, Davey, mate. Hey, Dave, I think you need to calm your calm. All right, coming up next, Victoria, we're going to solve somebody's money dilemma. We are. If you're struggling with your cash flow and you've found yourself

in a little bit of a pickle and need some advice, you can hit us up on the She's On The Money socials. This week we've got Bronte who wants us to share some tips on paid parental leave as she's expecting a baby in the next few months and I'm going to dish out some advice. Because with all of your kids, you'd be the expert, right? I'm not a parent. And that's exactly who parents want to hear parenting advice from.

So let's do that after the break. Right after this on She's On The Money radio show. This is She's On The Money radio show. This Saturday morning, it's She's On The Money radio show with Australia's number one finance podcaster, Victoria Devine, Mitch Turi as well. And it's all thanks to Budget Direct, who are the winner of CanStar's Insurer of the Year 2022.

Budget Direct's insurance sold. What a small flex. We're just the Insurer of the Year. No biggie, no biggie. Haven't they done that for the past five years, though? Like, way more than five years. Do you reckon their team goes to coffee and they're like, oh, where do you work?

Oh, Budget Direct. We're actually the Insurer of the Year. And everyone's like, yeah, we know. We've solved insurance. We know, we've basically solved it. Like, we've got it. Solved it, yeah. So give up, you losers.

Anyway, it's time for this. Each week, we bring someone's financial story on the air to get Victoria to, you know, jump on your soapbox. And that sounds like it's unsolicited, but we love when Victoria gets her Chanel shoes on that soapbox. You should see her. She so delicately jumps up and she gives advice. So you can hit us up online.

This is one from Bronte. Bronte sent this in. She says, Hi, Victoria, I'm pregnant and I'm having my first baby in October and I don't understand how paid parental leave works. There's mixed messages on the internet. I earn around an annual salary of roughly $75,000. So should she just get paid her normal salary for 18 weeks?

She's also read that there's flexible paid parental leave. She's a bit confused. She can get 30 days off. What's your advice, Victoria? This one is a little bit of a pickle because it actually depends on who you're employed by, where you're employed and what your employment contract says. So at a minimum, paid parental leave here in Australia

is able to be received by working parents for 18 weeks at minimum pay. So like that's the base amount that you'll get, which means if you work for a small business or a company that doesn't have a different parental leave policy in place, that'll just be the default, right? So if you decided to go have a baby, that's what you'll get at minimum wage. It won't matter what you actually earn day to day or what's on your employment contract because it kind of defaults back to minimum wage because you're out of that business. I love that it's 18 weeks. I feel like that's a really good amount of time at a minimum. For most mums, it is not enough and they want to take more time, which I totally understand.

However, there are a few options that are available. One, the first thing I do is actually check your employment contract. So, where you work to see what their paid parental leave is. I've got clients who work in government and they actually get six months full pay or 12 months off at half pay. I've got clients that have epic parental leave policies where it's actually 12 months of full pay leave. leave. I've got clients who work for really big companies as well that have come to me and they're like, oh my gosh, like I've got this really great salary, really big company. And then we look at their policy and they only have the 18 weeks of minimum pay because it's not something that their

HR department has organized. So, I think it's a really interesting point because it's not ever going to be consistent. And the best thing you can do is actually go to your employment contract, have a look at what that says and go from there. Because as much as the minimum exists, There might be some bonuses that are on top, but when it comes to that, there's also the ability to negotiate with your employer, right? So, if you work for a company that only offers you the minimum of 18 weeks, you can go, look, I really want some more time. Is there any way that we could go, you know, part-time or I could work some more hours now so I get some more time off later? Or is there the ability to double that 18 weeks and just have it at the half pay or take some

time without pay at all. And I think that there's a way to make it work. You just have to have open lines of communication with your employer about what that means. However, as I said, it's different for everybody. But sneaky thing that I've been talking about in the She's On The Money community recently is actually about superannuation. So you don't get paid super on that amount of money, which means for the period of time that you're out of work, you're not actually contributing to your retirement savings. And that doesn't put women in the best possible position. so if there's any way to negotiate with your employer for even just that to be included future you is going to be in a significantly better position but there's another sneaky tip

and that's maybe have a chat with your partner because did you know your partner can pay you some super to make sure you're not behind oh exactly no way yeah your partner can actually put some cash towards your superannuation and get a tax refund for it in some circumstances and I think that that's really important to negotiate because if you're the person that is the primary caregiver, your retirement savings shouldn't go behind. It's a group effort. We all should be on the same page

and these are things that we need to talk about more consistently and openly. Wow. Well, my tip, I'm not a financial advisor, but have twins and then everything will be doubled. That's how it works, Victoria, right? That's absolutely not how it works. The more you get.

That's how it works. I think that is. That's not how it works, Nick. Stop giving advice. Definitely great advice and always be practising. Hey, speaking of sneaky, those little sneaky tips that you've been given there, we are going to do Super Saver Saturday, Victoria, next. I'm obsessed with Super Saver Saturday. Let's go.

Your sneaky little tips on how to keep more bucks in your bank account. That's coming up right after this on She's On The Money Radio Show. This is She's On The Money Radio Show. For your Saturday morning right across the country, it's She's On The Money Radio Show with Australia's number one finance podcaster, Victoria Devine. Mitch Turi as well. It is your favorite time, Victoria, because it's time to do this. All right, Miss Divine, it is time for you to give our listeners some sneaky little tips on how we can keep more bucks

in our bank account. What have you got for us this week, you sneaky little tip giver? All right, so tip number one is subscription services and you're like, Victoria, Netflix, I'm not getting rid of it. Stop thinking I'm going to become a millionaire from this. We're not. That's not going. No, no, no, no.

I like how she says that about our listeners when it's really about her. She's projecting. Actually, any advice on here is me projecting my personal feelings onto you guys. That's okay. Blame it on other people. That's what I do.

I've gone through enough therapy to be okay with that, so thank you. But it's all about subscription services, and you might be rolling your eyes. But from little things, big things grow, and we actually need to care about the little things because they all add up, right? So if you aren't using a subscription,

obviously the advice there would be to cancel it. But my favourite tip is if you're an iPhone user, have I told you guys offline this yet? If you're an iPhone user and you pick up your iPhone, which I want you to do literally right now, Go to settings and in settings you'll have your Apple ID. Right up the top you'll click your name and then after that you'll click subscriptions

and it will tell you all the money you're wasting on apps that you subscribe to that you're no longer using. So what you're going to do is scroll through that and have a look at all of the apps that you're paying for that you might be able to cancel and save a few dollars on. Do I need Jenny Craig Plus and Weight Watchers Premium? I probably could get rid of those, couldn't I? I don't think you need them.

Well, what about me? learning French from Babbel since November last year. How's that been going? What's that costing you? Je ne sais pas. I think that means I'm not sure. No, I don't know. Oh, wow.

$20 a month. Parlez-vous anglais? Babbel, yeah, great. Comme ça, comme ça. I just opened mine because I don't actually take my own advice. I just know it's good advice. And I realised that I have been playing $1.49 for Splice, the video editor, because I thought at some point

I'd become better at making TikToks and reels and stuff. business expense though well i'm not even claiming it because i didn't even remember i was paying tinder premium i've been in a relationship for four years why am i paying tinder premium how does your boyfriend feel about that before he actually calls me to ask well moving on tip number two is consider cost per wear so this is me being a little bit self-indulgent and we need to check our privilege here as well because not all of us are in the position where we go oh wow I wear a winter coat a lot. I'm going to go buy a really expensive one because it brings down cost per wear.

But for every clothing purchase that you make, I want you to ask, how often am I actually going to wear this? So we want to consider our cost per wear because if you're just going to wear it for one weekend out, which women are particularly good at, I say that because I am often the first to go, oh my gosh, I've got this party on Saturday night, going out with a few girlfriends. I really want a new dress for it. But we need to check ourselves and go, do we actually need that? if I got something I could wear or something I could borrow from a friend.

And something else I think is really fun to do is op shopping. Melbourne CBD, we live where heaps of rich people live. They give away their stuff all the time. Go down to a wealthy little op shop and pick up some bargains and then you can always donate them when you're done with them so the circle of life keeps going on and on. So don't go down to the Frankston op shops is what you're trying to say. Oh, I mean, I don't know what they've got there.

They might have some good stuff. You never know. That's true. One thing I do know is that's all we've got time for for this week. She's on the Money Radio show. Because Mitch Turi, you've got to get out of here to go and do your favourite show with your favourite people. You say this every week. There's been a lot of projecting this week.

Listen, Tom and Veronica, you are two of my closest friends. And I adore both of you. And I just want you to know that I will never forget you. Thank you. Do you remember being invited to his holiday? No. No, they all went on holiday together. We weren't there.

Well, let's go. The amount of gastro that came out of me, you would not have wanted to be within a square metre of me. Well, it makes sense that you don't need the Jenny Craig app then, doesn't it? All right. This is starting to get vicious. So we'll be back next week.

For everything, make sure you check our socials. Just search She's On The Money, the Life Uncut radio show with Laura, what's her name again? And Britt, who? Sorry. I think it was Bianca. Yeah. Britt Hockley and Laura Byrne.

And that is coming up next with their buddy. Love you. Bye. See you next week.