She's On The Money - She's On The Money Radio Recap - 22 October

Episode Date: October 22, 2022

Put more savings in your Saturday with She's On the Money Radio Show. This week the team play Facebook Marketplace; Trash Or Treasure. Join as we trawl through Facebook Marketplace to see all that is interesting, useless, or perhaps we might stumble across a hidden gem to present to our She’s On The Money Community!Plus we talk kids and money; what do this generation of kids understand about money? We’ve got some very special guests in the studio to give us their insights. And as usual Victoria give you some tips to keep more bucks in your bank!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, She's on the Money Radio Show, with Victoria Devine, starts now. Oh, hello and welcome to the She's on the Money Radio Show podcast, the radio show podcast for millennials who want financial freedom. That'll do. Well done, Trav. You know what, we'll take it from there. This week was, will we call it a doozy or a win? I don't know.

Well, I mean, we saved money on paying people. We got slave labouring, which is fantastic. I literally tried to replace myself with three 10-year-olds. I was like, you know what? I'm 30, 31, so you know what? I'll get three 10-year-olds. That is equal to one Victoria. I was going to say, collectively,

probably more mature than me or Mitch put together. Honestly, I genuinely felt like Alice had it in a wrap. She was like, no, I know what I'm doing. This is how you should do it. We had the best chat. I have pulled so much content from our conversation that didn't make it to radio that I'm going to use on the podcast because I was like, you know what, this is wild.

Not only that, it's actually hilarious to see the reactions of these kids when they thought something cost a certain amount or somebody got paid a certain amount and then when we told them how much it actually made, I think we've actually armed them with this kind of info. They're going to rock out of here and be like... I tried so hard not to be rude because I was like, I don't want to laugh at their responses because that's kind of rude.

But when they said that a nurse earns six grand a year, I was like, oh, this is going to offend some people. I love it. Well, do you think that we were that intelligent when we were kids? No way. I don't feel I was that switched on. I wasn't. I wouldn't have had a clue.

If someone had said to me at 10, hey, Victoria, what's your budget tip? I'd be like, what's a budget, babe? What are we talking about here? What do you mean? How much can I buy from quick stop down the shop? That's all I was going to say. Honestly, all I cared about was getting my mum to walk up to the corner shop with me because I wasn't allowed to go on my own because I really wanted to buy mixed lollies.

and then I'm pretty sure I pissed her off by the amount of time I would spend, like, working out which whiz fizz or fizz-a-lolly I was going to buy and should I get a gobstopper because they last longer but also, you remember the ghost drops? Yes! Those were like, you know, five for a dollar or something. Honestly, it was the biggest issue I had as a child.

That's what I was going to say. I want to give a shout-out to Charlie at Quick Stop in Kenwick because he used to have the most patience ever. there would be always 10 kids just standing there for an hour with their dollar going, If I get five ghost drops, then I can't get a fizzer. And fizzers were like 20 cents each. Do you guys remember Brain Lickers?

Oh, my gosh. Oh, so good. And they were like the biggest investment. You go like, okay, but I've only got a dollar here, so if I want that, I'm not going to be able to get anything else. Yeah, and do you remember how expensive Pez refills were? Like, you remember those flip-top lollies where the little lolly that didn't even taste that good came out

but it was super novel and they always had Disney characters and stuff. All of those Pez refills were like a dollar, so I never wanted to buy them, but I always wanted the refills. So anyway, it was a lot as a kid to go through. And this just absolutely stamps home how intelligent these three 10-year-olds were considering we're still talking about lollies and they're telling us about investing

and putting 50-50 split into this and that. Honestly, I got some advice for my wedding from them just before and they said that I should have only spent $100 on flowers and I definitely shouldn't be paying the celebrant. I think Steve might have had something to do with that, your partner. Maybe he slipped that in. Yeah, maybe he's slipping that in

but you know what? They did tell me. They told me that the dress is more important than the suit. So take that, Stephen. They also had some hot political takes on the gender pay gap in men versus women and Trav got a bit angry at one point. Oh, that got real spicy. I just like equality. That's all one thing. It's quite funny how people talk about

equality but then say somebody should be paid more than the other person it's like well equality means equal guys yeah but they also knew that women are putting in far more unpaid labor and they said that that shouldn't be happening so these kids were very switched on i got put in my place anyway definitely did we had a bit of fun as well back to that place we had a bit of fun as well because we did facebook marketplace trash or treasure dead pet themes by accident this week which was fine it was it was morbid it was truly iconic all right probably gonna have a chat to our producer yeah we probably should get into the show this is she's on the money right now enjoy what do the kids today know about money should i ask you mitch are you gonna be in the know here

yeah well this kind of came up organically it was last week or the week before it was it came off the back of canteen chat as food is always related but i was wondering like do kids pay the same price as we paid in school these days because inflation isn't just affecting adults right i I don't know. Do you remember pocket money and going and doing school lunches? Like I used to think it was the biggest honour to have to carry the washing basket all the way to the canteen with everyone's paper bags and their orders on it. And then at lunchtime, you were on lunch order duty. You'd go to the lunch order spot.

You'd pick up your lunch orders and get to bring them back to the class. And the class thought you were the hero. And remember money was sticky tape to the front. Yes. Oh, the change, the change. And you had to make sure you had an envelope and you had to, like, write down everything that you wanted and it always equalled, like, $4 and I would get, like, a choccy milk, one of my meat pies and, like,

you know, a Zoopa Doopa or something and that was wild. Pizza Pockets. Oh, Pizza Pockets. You are young, aren't you? That was definitely not on the menu for me. Trav, what did you have? Dried toast and milk? Oh, it was back in the war days, yeah, so it was more gruel.

But, no, my mum used to work in the library so I used to go at lunchtime and go and see my mum and she'd always give me two bucks and I'd go and buy myself a little joker or fudge bar. Oh, money win. Two bucks is a lot of money. We used to have juice cups at our school, so they were literal cups of juice that had been frozen. 80 cents a pop, money win.

I mean, you're a massive podcaster, obviously, now in the finance world. When did you actually start learning and getting educated about money, V? Oh, look, I grew up with an accountant dad, so he was teaching us since the early days. But the real question here is, Victoria, when did you start listening? And I still haven't. Like, I really haven't. My dad's still like, ah, V, are you sure you should be doing this?

I'm like, dad, dad, sit down. It's all good. Don't you know I have a podcast, so people trust me. Were your parents good with money, V? Like, do you think that's where it stemmed from? I reckon my parents were really good with money, to be honest. I mean, I'm not going to be like, oh, they were super wealthy. But, like, one thing I do remember is my mum being the queen of budgeting.

Like, she is so good at money that I would argue she's probably the one that should be running this podcast. Let's be honest. Oh, my, that's a good spin-off. Mum's on the money. That is a good spin-off. Oh, my God. I see. I'd listen. But wait, V, did you get pocket money growing up? Like what was your

money? Oh, do you know what? I did get pocket money growing up and my dad had a strategy for this. It was 50 cents for every year old you were. So if you were six, you got $3. If you were 12, you got six bucks. So if you were 13 though, you get $6.50. So every single year on your birthday, your pocket money went up by 50 cents and that was per week. So that's what we earned and that was the strategy around it. But I guess everyone always says that they never learn enough about money when they're growing up in school. Like it's always, when am I going to need algebra? Why don't you teach me how to save for a house or pay my mortgage? What is interest? Also, I just feel like these days when it comes to money, it's so much more widely understood

that it's really behavioral, not so much about the one plus one equals two. And I feel like I did sit down and we did all of these. I remember being in primary school and we had the fake shop to learn about money and we would have to put the prices on it and you know take our fake money or monopoly money or whatever they'd given us and we'd buy things at the fake shop and I also remember learning about money in that it was a reward in our office and I just feel like nowadays we really need to teach them that the way that we transact around money is really linked to our thoughts our values our beliefs and our behaviors and I just think that that should be really a part of the curriculum beyond like hey here's how to put money in a bank account yeah how much did you learn from

dolomites mitch oh god nothing i think it was empty my whole childhood career i don't even remember what the point of that was other than the artwork on the yellow checkbook remember literally and asking mom and dad the morning of dolomites day being like mom i need money for my dolomites and mom being like oh my gosh i completely forgot and then like scrambling to get stuff from her purse and being like oh here's eight bucks or whatever it was like that's my memory of it and as much as we were being taught quote about the banking system I really don't think that it was ever taught to me that Victoria if you want to achieve x this is how and when and where and why and I just think that I'm obviously quite passionate about this and would love to take it

to schools but you know I've got to work out how that might happen to begin with yeah we don't need you to go to schools we're going to bring the school to the studio right Trav we have some kids outside the studio right now have we asked their parents permission or where did these kids actually come from no we have it's all above board don't worry about that they are our producers kids which is one of the benefits of having a producer with kids right you can exploit them and she's also very good at looking after us who are pretty much like her own kids yeah however can recommend her as a surrogate mother if you need one let's see what kids nowadays know about money let's bring our three 10-year-olds into the studio,

see what they actually are learning in school. See what they know. Do you reckon they know a lot about money? I think we'll be shocked. Let's get them in. What a team. Well, we're a team that's about to grow by three because last week on the show we were talking about kids

and what they can afford these days at school and the school canteens and do kids know about finance? Because your podcast, Victoria, so many, hundreds of thousands of listeners, millions some would say. Literally millions, yeah. Literally millions. Thanks for undermining me. No, I didn't want to fight in front of the children

because we've got Autumn, Charlotte and Alice. We want to know, what do kids know about money these days? Guys, when I was in school, like in the early 2000, 2005, we had dollar mites, which was like a Commonwealth bank thing where we were given checkbooks and we had to write checks and we had to bank and that was our introduction to banking. Do you guys get taught about money at all in school? Charlotte looks really excited about this.

We do learn about money in school and at our school we used to have those books. Oh, how did you use them? So we used to put in like $5 every week. And what did you do with the money? We could really save it for whatever we wanted to save it for. Where did your $5 come from? Our parents.

And did they give it to you as pocket money or just for this program or like why? Just for the program. Very, very cool. So the She's On The Money community have a number of questions for you guys. And the first question is, what is money? We're going to go with you, Autumn. What does it do? Why do we have it?

Well, you can buy things with it. For example, like, you could buy, like, a water. Alice, what do you think money is? It's something you can buy different things with depending on the cost, depending on how much you have. Just say you wanted to buy a car, you save the money you needed and when you have enough, you could go buy a car. That's a good example.

How much would a car cost? Probably, like, 40K. 40K? Oh, wow. Oh, she's buying a baller car. Charlotte, how much would a car cost, do you reckon? Maybe $26,000. $26,000.

On the note. Alice, how much do you think a car costs? I don't really know, but I'd go with like $9,200. I like it. It's like nine grand, but also you've got to pay some fees. All right, next question I've got for you. When you're a parent, you have to go to work and you have to put money in your bank account

to put food on the table and pay for rent or pay for the house. but how much do you think that stuff actually costs like how much money do you think that your parents spend on you maybe each year probably about maybe like a thousand or something a thousand you reckon what about you charlotte maybe three thousand three thousand dollars a year yes oh my gosh christmas presents birthday presents and my dad he usually buys us like something really special for christmas like something from apple or something every year oh my gosh And what about you, Alice? How much do you reckon it costs to keep an Alice each year?

Like around $2,500. I feel like these are really big numbers, but there's also other costs I want to know about. So when it comes to putting a roof over our heads, right? Like you guys have heard of a mortgage, right? Yeah. How much each week do you think it costs to pay for a house? A week.

A week. Maybe $700 or something. $700 a week? Oh, my gosh. Charlotte, what do you reckon it costs a week? I'd say probably $500. $500. And what about you, Alice?

Probably like $650. Whoa, that's so much money. All right, so we are going to go through what people earn based on their sector. So what type of job they have. So we're going to start with healthcare and social assistance. So this would be like nurses and people working in caring roles. Autumn, straight out the gates. What do you reckon they earn?

$10,000. What if I told you that the average registered nurse in Australia has a salary of $79,000 each and every single year? That's a lot. That's a lot. I was close. You were close? Well, if we divide it up by 10 maybe.

All right, guys, I want to know next. What do you think a policeman makes? Charlotte? I'd maybe say $70,000, $80,000. Oh my gosh, you're right on the money. What about a teacher? Probably like $40,000. $40,000.

What do you reckon, Charlotte? Maybe $10,000 to $20,000. $10,000 to $20,000. Autumn? Probably $25,000. $25,000. Is this what we think they're worth based on your teachers? No.

Okay, good. What do you reckon they should get paid? Probably like $50,000. $50,000? Yeah, teachers are a hard job. Teachers are a hard job. They have to put up with you guys. I agree.

So what if I told you that the average teacher's salary in Australia is $86,357 each year? That's a lot. That's a lot. All right, I think we should give the girls a little bit of a break, get them some more sugar. I have convinced them. Trav, they could raid the prize vault in the radio station.

Yeah, they actually did. We'll take them out there during the break. But, girls, you need to get your stuff together because I haven't done my work this week and I'm going to need your help to do some Super Saver Saturday tips right after this. All right, we're going to play Australia's favourite game, though. Facebook Marketplace, Trash or Treasure.

If you think you're a Facebook Marketplace pro, you can find us some Trash or Treasure. Hit us up. She's on the money on socials. This is She's on the Money radio show. By you on Facebook. It is time to do Facebook Marketplace, Trash or Treasure. As a team, we love to trawl through Facebook Marketplace

to see what incredible finds we might be able to stumble across. I definitely have been leaning on the She's On The Money community here, though, and the one that I have got might have been sent to me, might have found it online myself. We also like to find and present you guys with some worthless trash, basically. It's what makes Saturdays so great. So, guys, what have you found this week? Mitch, can you take it away first?

Because you have not stopped telling us that we are not going to like this one. Well, it's not that you're not going to like it. It's just you might bring up your breakfast because- Oh, yeah, cool. Can't wait. Dog rug, in brackets, Snoopy. Now, I know what you're thinking. Snoopy.

Well, that's the name of- A Snoopy rug. Is that like the Snoopy dog brand? No, it's not a Peanuts rug. It's Snoopy, the family dog who Kathy in the UK has turned into a rug when he passed away. The description is treasured family pet. Has to be sold as new. Dog keeps trying to hump it.

looking for a hundred pound or nearest offer very cozy and unusual piece and it's a rottweiler that they've had taxidermied into they turned their dog into a rug when it died i think 100 quid is to be honest a good price what's the conversion there 200 for somebody else's dead dog you know what i'll dm her 150 um or nearest offer that's what i'll say oh hard no from me trav what do you reckon is that trash or treasure 100 treasure you reckon treasure Shut up. I don't know how I feel about this. This makes me really uncomfortable.

I'm such a pet person. Of course it's not treasure. Would you taxidermy your dog once they passed away? No. Do you know what? I want to move on from this. We've deemed this treasure because I feel really rude if we called that trash. Trav, what are you bringing to the table this week?

I don't want to keep the pet train going, but, Victoria, this is something amazing you're going to love because it is a beautiful dress. Oh. She describes it as a Talbot's sheath dress with rosette applique. What is it? Applique. Yeah, that. Yeah, nice.

Cat hair all over it from my cat who passed away last year. What is with you and dead pets? A special gift for the cat lover, cat lady in your life. Can I see the picture of this? That is heinous. Are you kidding? It's a no from me. How much are they trying to get for that, Trav?

Oh, a cheap price of $120, Victoria. I actually can't. Mitch, would you buy a dress that had somebody else's dead cat fur on it? Also, did you two collude? No. Were you like, you know what, we should do dead pet content. In fact, I'm really disappointed I don't have a pet-themed marketplace find. This week, guys, it is very good.

This has been sent in through by Liz, who is one of our She's On The Money radio listeners. She says, Victoria, you're moving into your new house very soon. Can't miss this. So it's custom made. It is a barbecue cooler combo. So it's kind of got like a fire pit and an ice box. So you can like sit around the fire pit and then grab a drink straight out of the ice box, which sounds really good. It's $800.

So it's a pretty big investment, I reckon. But it's actually a toilet. Oh, my God. So they've made the fire pit out of the toilet bit and in the cysteine where you would keep the water, you can just fill it full of ice and pop your drinks in. Innovative. Innovation plus.

I would have never thought of this. I mean, it definitely is custom made because they've popped a grill over the top of the toilet bowl so that, you know, you could probably use it to barbecue your food, make a steak or, you know, do literally anything you want with it because, like, the options are endless here. Love that it's been repurposed. Dead pets and toilets are what we do best right here on She's On The Money.

But, hey, if you've got a Facebook marketplace, Trash or Treasure, hit us up on socials. Just search She's On The Money. Coming up next, though, let's get those girls back into the studio, Victoria, and do a little super saver Saturday. This week, we are going to get the girls to give you some hot tips on how to keep more bucks in your bank account, so don't go anywhere if you need some financial advice

from three 10-year-olds. No other show in the world would give you that kind of service. Very special edition of this this week, guys. Super Saver Saturday. Okay, every week Victoria gives us some snicker tips on how to keep more bucks in your bank account and we get really good feedback. This is genuinely very good.

Today could be a little bit different because we've got our little pals back in the studio today. Earlier on in the show, you would have met the wonderful Autumn, Charlotte and Alice. And they are going to share this week a savings tip each. So, Alice, what is your savings tip? It could be for anything. I think when you're saving money, kind of like split it 50-50.

So 50% of it is going to like what you're saving for. Then the other 50% is like just so you see something and you want to buy it, then you have the freedom to do that. I love this. What do you reckon, Mitch? Do you reckon that would work for you? Yeah, listen, I was a piggy bank kid growing up. Do you girls have any cash?

Do you keep cash or do you have your own bank accounts? I have cash because for Christmas and birthdays, I get cash from my aunties and uncles and nannies and things. Do you have one name that gives you more? Like, I'm Dutch, so I've got an Oma. She gives me $20 and a scratchy, but my nan, my nan, oh, she gives me $100, $250 notes. And I don't tell Oma that nan is more generous,

but do you have, like, one stingy nan and one really generous one? Yes, so my dad's mum is much more generous, but my mum's mum isn't so generous. It's okay to call them out because it just means that your nana needs to be better. Oh, Trav, pull your head in. Let's move on from that. Autumn, I want to know what is your savings tip?

Mine is probably put some of your money in your bank account when you're older, like if you have a bank account and you can save that for holidays, like buying special things. So, yeah, that's my tip. What about you, Charlotte? What is your number one money tip of the week? Probably to always have backup money. So, like, say if you lose your job, you'll have money to lean on.

I love this. Literally, guys, you are going to know. You talk about this all the time. I talk about this all the time. Oh, my gosh. What about you, Alice? Well, I think it's really important, especially, like, the job I want to go into. You might not always be hired.

like so you need to have the money to be able to still keep yourself upright and keep working for it i think you guys have been listening to our show a lot oh my gosh guys i feel like those tips are absolutely going to help us stretch our bucks a little bit further each and every single week trav are you happy with the tips that they've given this week do you reckon i'm out of a job i think they're the best three tips we've ever had on this show just putting it out there yeah look that doesn't say much for you look i can't do much i look i'm probably going to be made really redundant soon between the She's On The Money community basically running Trash or Treasure

and these three actually running the money-saving segment. Like, I literally don't need to be here. You are Australia's number one finance podcaster. Not for long. Don't you forget that. All right, we do got to get out of here. Mitch, you're sticking around the Life Uncut radio show with Britt Hockley and Laura Byrne.

They are coming up next with you, sir. Have yourselves a great week and we'll see you next week, guys. See ya.