She's On The Money - She's On The Money Radio Recap - 28th May

Episode Date: May 28, 2022

Happy SOTM Saturday! This week on the She's On The Money Radio Show hear which guilty pleasures Victoria Devine and Mitch Churi cannot live without. Plus, we've got another Super Saver Saturday where Victoria gives some sneaky tips on how to keep more bucks in your bank account. And this week on Money Matters 11 year old Ben wants some advice on getting into the stock market .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.

She's on the money. She's on the money. Hello and welcome to the She's on the money podcast for millennials who want financial freedom. I think you are taking the actual mickey here, Trav. I was just trying to remember what you told me to say, mate. That's all. You know what? Write it down, Trav.

I want to hear Trav sing that intro, actually. I think that would be a nice jingle. I've never heard someone sing that. The She's on the Money musical. Hello and welcome to the She's on the Money podcast. For millennials who want financial freedom. Oh, no, it started so strong. I know, sorry, it's my bad.

This is the podcast, which is basically the behind the scenes of our radio show. because our community is our favourite thing, right? Or it's my favourite thing. I don't know about you. I'm going to sell you on them. They are good eggs. They are good people doing good things. And I obviously love the radio show,

but I love my podcast community more. So this was part of the deal. Yeah, the fact of the podcast and the community that comes along, it makes them feel like they're all crammed into this studio with us and they can hear the stuff that we say in the songs and the things that Richie Rich tells us not to say. And they go, you should totally say that. But they can also get involved.

They can call through to the show and leave us messages. If they want to send us voice messages on Instagram, they can get on air with us. I reply to all my DMs too. So if you've ever got a hot tip that you want to share on the radio show, that is the easiest way to get in touch with me. Slide into the DMs. Slide into my DMs.

Be kind though. No weird pictures. It might take her three weeks to reply to it and she might leave you on read for a bit. That's absolutely not true. The best night to DM Victoria, Tuesday nights. 8pm. That's the best time.

8.30pm. You'll get that later. Yeah. Yeah, 8.30 p.m. because she's too busy doing something else at 8 p.m. That'll be so funny in about 20 minutes when you hear that. You're focused on another task, which they will hear in about 20 minutes' time. But. Yeah, what's on the show?

Tell us what's on the show because it was very good. It was. We are going to delve into your guilty pleasures and how much you spend on them because, Mitch, I believe you spend $17,000 on yours. That is disgusting, by the way. Don't tell them what it is. Don't tell them what it is. But it's greasy.

It's hot. And it turns up to my door and I get really excited. That sounds wildly inappropriate. That's what I'm going to say. I'm going to leave it. Leave it up to the imagination of the She's on the Money Nights. That's what we call a tease or a hook in the radio industry. So we're also going to give you some little money matters tips as well.

I'm going to tell you how you can keep a little bit more bucks in your bank account. And Super Saver Saturday, it's our favorite thing of the week. We're not going to talk about, you know. I think it's really good, mainly because it was my idea. No, it wasn't. I think it was Richie Rich's idea. But the thing is, you know, we're not going to talk about all those things that people like Mitch and I have no idea about.

Why not? Because we're not smart enough to understand that. No, you are. I created a whole podcast for you. Okay. Well, we're going to dumb it down for people like myself and Rich and Mitch. I probably wasn't entirely truthful today on the radio show about my guilty pleasures either.

I think that everybody in my community knows I'm a bit better at spending and it's not just coffee that is my guilty pleasure. You know, a bit of a spoiler. But at the same time, I think that was a good radio hook, right? Yeah. We almost hear about coffee. It worked. It worked.

I just don't know why you lie to people. That's my only problem. Because I didn't want, you know, millions of people judging me on the fact that I really like nice shoes and handbags. Like, I just felt like it was a bit too soon to get to know me that deep. Yeah. Okay. But the community know you very well.

But that's okay. All right. Let's get into the radio show right now. This is the She's On The Money radio show every morning, 9am across the country. On Saturdays. Not every morning. Oh, yeah. Good call.

Can you imagine if it was every morning? If it was every day? We would have made it. Too many tips. I'd have to get up too early every single day, and I'm not into that. I would for breakfast radio show, right? Money, money, money. She's on the money radio show.

Money, money, money. With Victoria Devine. Guilty pleasure. Guilty pleasure. Wow. Who made that? I love it. Good pun on Queen's under pressure, Richie Rich, our producer.

Very well done there. Did you make that, Richie Rich? That is good gear. That's good gear. But anyway, we do all have guilty pleasures. You know, we can't live without, guys. Just because we want financial freedom doesn't mean that you need to go without everything. You can splurge here and there, right?

Mitch splurges everywhere. Okay, now that makes me sound like a monster. I do splurge everywhere. I don't save anything, Victoria. I don't think I've ever told you this. That's because you're really bad. I try to save, like, $1,000 a month. If that, I see something, I get it.

I've had lunch, I see more food, and I go, you know what, I want that and I'll eat it later. I do. I want it, I got it. Okay, apart from the Theramins, what's your guilty pleasure, would you say, Mitch? Not really Theramins. I mean, that's not really that expensive.

It's not that expensive. He says just about a blast, like, $800 he spent on Facebook. That's fine. Don't worry about it. Wait till you hear this fee. In the last 12 months alone, I've spent over $17,000 on Uber Eats. What? On Uber Eats?

Are you joking? But what are you ordering? That's for my partner and I. But that's the thing. Like, I will get two meals. If there's a meal deal, I will get the second meal and double the price just so I have food for the next day. So technically, I'm saving money.

No, Mitch, you're spending more on food from Uber Eats than most people do on rent. Sit down, sir. You know when Victoria whips out a calculator, that is out of control. How much is that? $1,416 per month. And you're like, oh, it's for my partner.

So that's like $700 each a month. It was locked down. It was lockdown. No, that is no excuse. I thought everyone just ate Easy Mac during lockdown. Is that not what the reality of the situation is? No, I had Easy Mac too, but I got an Uber Eats, Dean. It is on Uber Eats.

All my grocery shopping is like that instant milk run, all the delivery services. Yeah, I don't even need a car at this point. That is ridiculous. All right, Victoria, what's your guilty pleasure? Look, I have a few. I do love my shoes and handbags and travel and all of the things that I think everybody loves. But from my perspective, it's really about balance and it's really about working out what your guilty pleasure is and kind of also leaning into it so you can not feel guilty

about a guilty pleasure, but rather go, do you know what? That's part of my lifestyle. I love it. And for me, that's coffee. Like one or two a day. I know that that sounds small because I think every other financial advisor is like, do you know you can save $1,400 a year if you don't have your morning coffee? Yeah, they always shave the coffee off, don't they?

I don't understand it. Because to me, that's my favourite thing in the morning, like going for a walk with my partner, grabbing a coffee, which I'm now no longer able to do on Saturday mornings, which is kind of rude because I have to hang out with Mitch and he's never bought me a coffee. Well, you're making money now, though. That's the difference.

This is very important. Now I can afford more coffees. I mean, it's kind of a catch-22, really. You can afford them, but you're not buying them. No, but I'm also going to make Mitch pay for them. This is just a money win all round. Well, I can't afford it because you know how much I'm spending on Uber Eats. That's the problem.

This is She's On The Money Radio Show. Just before the break, you were telling us that your guilty pleasure, Victoria Devine, is coffee. Before the coffee, I have Barocca. Okay. And Mitch, you are an Uber Eats bandit. $17,000. I can't, I can't. I feel like you're still making that up.

In the year of COVID, in the year of lockdown, I couldn't go out and cook food. That's why. Sure, mate, but that's okay. We're going to make you feel a bit better because we're taking your calls on 131065. What's your guilty pleasure and how much have you spent on it? Right now, we've got Tommy. Tommy, what's yours, buddy? Okay, mate, so my guilty pleasure is

I only like putting premium unleaded petrol in my car because it just makes the motor purr, mate. I can't do it. It's only 15 cents, 20 cents more, but I've just got to do it. I can't do it. 15 or 20 cents in these hard economic times, Tommy. You've got to do what you've got to do.

Okay. He's not even doing it for performance. It's just because it makes his engine purr. For a purr. He's a cat man. Are you the kind of guy that rocks up and does bog laps, Tommy, and you're like, hey, girls, listen to this baby purr? Listen to the purr.

Yeah, yeah, no. He does chat laps. Yeah, and then... He liked that joke, didn't he? So he's just tripping on Trav's audience. I've got questions. I've got real questions. Go for it, Victoria.

I don't understand the difference. You know what? Yeah, what is the difference? You know what? Neither do I, mate. Just saying. I only get things that are premium. Oh, wow.

Tommy, big spender, buddy. What type of car are we filling up here? I reckon he's in a Toyota Yaris. He actually has a Prius, so he doesn't even use fuel. It's a Tesla. I wouldn't get caught dead in a Prius. Thanks, Tommy. Mandy on 131065, what's your guilty pleasure

and how much have you spent on it? About $700 to $800 a month on Botox. A month on Botox? Okay, as somebody who's happy to admit on national radio that they also get Botox, girl, how are you spending that much per month? It's a lot of Botox. Where are you putting it? Hang on a second.

Let's keep it family friendly here. No, like is it that type in your jaw or something? Is it north or south? Yeah, so jaw, forehead, frown, crow's feet. I obviously get a lot of fillers. Is the $700, does that include the fillers? Yeah, so basically I spread it out so I don't get it all at once and it averages out to about $700 a month.

Whoa. Does your partner know about this, Mandy? Why does your partner need to know? Trav? I would have thought that you were so angry, but I can't see an expression on your face. Got her. You got it good.

All right, hey, thank you. Thanks, Mandy. Jake, what is your guilty pleasure on 131065, and how much a month are you spending on it, buddy? Guys, I'll be honest. I am a sneakerhead, and specifically in the Yeezy season apparel. So that's Kanye West's brand. For those of you playing at home, just in case you don't know.

I'm a Yeezy head too. I'm a Yeezy fan too. I got all the Yeezy. So Jake's a man to my own heart. I love this Jake. Perfect, bro. So you know how much they cost, right? How much do they cost?

On average around, like, $600 a pair, right? Yeah, $600 to $800 depending on the season. And if Kanye and Kim wear them, it skyrockets to, like, over $1,000. But for, like, the cheapest pair, it'd be $500. What? 100%. I reckon I've spent, I'm not joking, probably around $10,000 over the eight seasons.

Yeah, it's nuts. You might say yeezus. Yeezus. I like that. I like that. I'm shook. I spent $66 on the Adidas website this week on their Click Frenzy sale, getting a new pair of sneakers.

I thought that was pretty expensive. Yeah, you know, I'm also shook because for some reason a 15-year-old has replaced Victoria Devine in the radio studio here. What's wrong with me? The word shook. Oh, I thought it was Botox. Oh, please, please. No, thank you so much, Jake.

Well, I hope that makes you guys feel a little bit better about obviously your coffee addiction and your Uber Eats addiction, Mitch. It's always good to throw it out there to the listeners on 131065. It makes me feel a bit better. But, Victoria, yours is piss weak. Yours is just a coffee and then here are we spending 10k plus. No, see, I call that my guilty pleasure and I like calling it out as a financial advisor because I think too many people are always like, oh my gosh, like, yeah, I've really

got to cut back. And the first thing they do is cut back coffee and you're like, no, that's not going to save you nearly enough to create the lifestyle you want. We need to actually do a bit more than that. Normalize coffee, Trav. All right, well, you've normalized spending with guilty pleasures. We're going to save you money next with Money Matters. If you're struggling with some cash flow, you got yourself in a bit of a situation,

you need some advice, hit us up at She's On The Money socials. This week, 11-year-old Ben, he wants some advice on getting into the stock market. That's coming up next on the She's On The Money radio show. Money, money, money. She's On The Money radio show. Money, money, money. With Victoria Devine. Money, money, money.

Each week, we're going to bring somebody's financial story on air. We want to get your advice, Victoria, on what they should do because you're the expert here. I have tricked you all. Well, hopefully you're not going to trick 11-year-old Ben who sent us this message. I'm 11 and I've been saving up and I want to know how to buy $500 worth of shares.

How do I do it and what type should I buy? OK, first of all, I want to know... That's so wholesome. Yeah, how the hell... At 11, I wasn't even allowed to use a toaster, let alone call into a radio show. I didn't even have $5, let alone $500. Oh, at 11, I got my kettle licence

and I thought that was really big. What's a kettle licence, Victoria? My parents are going to be listening to this laughing. It was so that you could safely use the kettle. Because mum was just sick and tired of it. Because mum and dad wanted tea and coffee in bed. Oh, my God, that's genius. That's a money-saver tip.

That's very smart. Anyway, Victoria, what should Ben do who wants to invest $500 in the stock market? Look, first things first, that is impressive. I don't know where he got $500. Do we have to talk about child slave labour? Maybe not. Let's just assume Ben...

He seemed happy. Let's assume he's been hoarding all his birthday and Christmas money and gifts from family and friends, all right? So, Ben, there are lots and lots of options, and I think the first thing is to think about what you actually want to achieve. And is it buying something in the future? Is it when you get to 18, buying a car? Is it actually when you're 35 or maybe even 60 at this rate

and buying your first home? Is it retirement? Like, what are we doing? Am I talking to an 11-year-old about retirement? This is so sexy. I wish Ben was on the line to tell you all about his retirement needs and wants. I'm sure he's got a long, long list of retirement plans. Guys, he's probably more prepared than both of you combined,

but that is okay. So there's heaps of ways he could invest. A very popular way for young people to invest if you're under 18 is to either buy an investment bond, because there's lots of tax implications we need to take into consideration, or an ETF, which is an exchange-traded fund, which is a bucket of shares, so you don't have to pick them directly and worry too much.

But Ben, I would be having a chat with your parents because kids actually have a really high marginal tax rate and it might not be the best thing to do because you might end up getting a little bit shot in the foot. Wait, so he could use his parents to invest the money so he doesn't get taxed? Yeah, there are lots of platforms that allow you to sign up and then actually have a children's account

where they can manage it and have a look at it and run it but it actually sits under the parent's taxable income. Oh my God, but he says he wants to get into the stock market. Is that a good idea at 11? Look, I love the idea. I hope that when I have an 11-year-old, they are as keen on getting into the stock market because when I was 11, again, kettle license was my priority. But the power here, let's just sweep out the money smart compound interest calculator

because that's my favorite thing in the entire world. And I love that you have that ready to go at all times. I do. I'm ready. But his initial deposit of 500 bucks, if he didn't add a dollar to it, didn't even think about it, by the time he retires, that's $21,000 by not touching it. So 500 bucks. 21 grand.

Just putting 500 bucks into an account and leaving it. Yep. That is crazy. Exactly. But then, imagine this. So, if he added 50 bucks a month to it, so maybe mum and dad added 50 bucks a month. Christmas and birthday money. Tooth fairy money, yeah.

Maybe he has a rich uncle or something. Maybe. If he added 50 bucks a month to his 500, he'd have 349,000. What? You'd buy a small house with that. Oh my God. 350K is out of control. I think it is wild.

I won't go on and on about it because I have a whole show for the rest of the year to go on and on about investment. Yeah, but good tips for Benny. Great idea. Hey, if you've got a question you want Victoria to answer, hit us up on our socials right now. Just search She's On The Money. And coming up next, we're going to do Super Saver Saturday, guys.

Victoria, you're going to give us some sneaky tips on how to keep more bucks in your bank account. This is She's On The Money radio show. Super Saver Saturday. Yeah, Super Saver Saturdays, that's when, Victoria, you give us little money-saving tips that aren't full of, like, actual jargon like compound savings and you know seas end of day all those business i'll say it's my favorite part of the week but it's not because you guys told me i can't talk about anything i

actually want to talk about it has to be like fluffier money tips that you think people will relate to so i've tried really hard this week and i spent 2100 bucks on return flights to london and i think that's a money win you did oh my god that that is like how much are they normally like you can get flights like that four grand right they are so expensive i've been looking and the average seems to be for the good time obviously you could fly at like a really terrible time and have like a 24 hour layover in like dollar or something where you don't know what to do yeah no thank you i feel like they're about 3200 at the moment so i feel like i saved a thousand bucks that's pretty good money that's like how did you do it what did you do is this one of your spreadsheet

things yeah now i've got to out myself and tell you that i made a spreadsheet and i downloaded an algorithm that I stole from someone else to pull flight costs from other places to work out what time of the week was the best time to buy flights. And Richie Rich, our producer, not his real name, he told me that Tuesday nights are the best time to buy flights, but I trust nobody. So I had to do all of this to work out that Tuesday nights were actually the best time to buy flights at about 8pm. Wow.

Yeah. So he was right. I'm not going to say that. I'm sure he heard that from someone else. Wait, do you think that's because people are like, you know, normal people wait till the weekend or Friday night or their last minute so they do it at the end of the week or like the night before their flight? Yeah, I think so.

Like usually it's Friday or Saturday night. Like, hey, Trav, we're going to book a holiday together. Why don't you come over for a wine and we'll get all locked in on a Friday or a Saturday? Like I reckon that's peak time. I was going to ask how your partner Steve would feel about that. He would love you. You can come over for dinner whenever you want.

Thank you, darling. Yeah, you're welcome. Thanks, guys. Do you want me to just like provide the food or? You're not invited, mate. Don't worry about it. Oh, yeah. Victoria, during the song, you were telling us about cookies as well or something.

And I got very excited because when I hear cookies, my ears perk up. But it was internet cookies. Oh, I did bring cookies for everyone this morning. Oh, mine's right here. Yeah, caramilk cookies. Yeah, 100%. Local bakery made them. You're welcome.

But cookies are really important when it comes to flights because cookies are the thing that tracks you around the internet. And flight companies, they track you around the internet. So if you've Googled flights, they know you've done it. So when you go to book, they'll just add a couple of hundred bucks to the sale price and you'll be like, oh. That seems criminal. Yeah, but you'll be like, oh my gosh, I'll just pay it like we've just got to lock it

in before it goes up anymore. So my other hot tip is to use a device that you haven't ever looked up flights on before. And so on Tuesday when I booked, I went and got my partner's laptop and booked on that, which meant that we got super cheap flights. Oh my God. And tickets. It was two weeks before. So if that's not a money win, I don't know what is.

Money win, baby. That's a super save for Saturday money win. All right, the show's not getting any better than that, guys, so let's get out while they say we're on a high. See you next week. See you, guys. Miss Jenny if she's on the Money Radio Show with Victoria Devine. Hear it on the Catch Up podcast on iHeartRadio.