Victoria Devine is a multi-award winning financial adviser and a 2021 Forbes 30 under 30 Honouree who is transforming the way millennials think about money. With a background in behavioural psychology, her own financial advisory business ‘Zella’, the number one business podcast in Australia and an established community of more than 170,000 people, Victoria understands what makes our generation tick and she knows how to make hard-to-understand concepts fun, fresh and relatable. Victoria’s podcast She’s on the Money now reaches more than a million listeners monthly, and she has just launched two new podcasts, The Property Playbook with Amy Lunardi and The Business Bible with Ryan Jon which shot to number one in the Apple Podcast charts on day one of its release.
Today, Victoria Devine is on the blog to answer a few of our questions about her new book, She’s on the Money. Read on …
Victoria Devine (Photo by Miranda Stokke).
Please tell us about your book, She’s on the Money!
VD: My book was created because I felt like there wasn’t a single finance book out there which considered and catered to the needs of millennials. Other popular books focus on retirement and setting up to look after nuclear families, but modern society shows us that our lifestyles and choices are much more diverse than those of the generations which came before us. While the ‘norm’ was once to marry young, buy a house, have children and work until retirement, I have conversations in my community every day about the alternative ways people want to live their lives, and how their financial plan can best support that.
Why do you think there’s a need for a money guide specifically for millennial women?
VD: Because every other money guide out there doesn’t speak to millennials and their unique circumstances. Millennials have so many more hopes, dreams and opportunities than the previous generations weren’t afforded, and they aspire to things other than purchasing a home and planning for retirement. I wanted to create something that goes beyond the basic ‘blueprint’ of success because we all know that there’s no one size fits all for modern women.
You talk about ‘financial literacy’ a lot. Can you tell us how it differs from financial advice?
VD: Financial literacy refers to the base education a person possesses, and I believe everyone deserves to have a strong foundation in this space to enable them to make informed decisions for their future. Financial advice refers to a tailored financial plan which is created by a finance professional and often covers investing. There’s a common misconception that people need financial advice but they’re actual seeking to achieve financial security which would be afforded to them by financial literacy.
You’re also the creator of the She’s on the Money podcast. How does it feel to see the massive success that this podcast has achieved and the community that’s sprung up around it?
VD: I’m so thankful to have been able to create such a strong and empowered community, and am inspired every day by the generosity and resilience of the people in it. I’ve always had this crazy dream to change the financial literacy of an entire generation, and specifically to help empower women who statistically are often on the back foot. The success of the podcast continually enables me to reach new ears, my community are my team and my biggest advocates, and they often message me telling me about how they’ve introduced SOTM to a friend or family member. To tangibly be able to see the impact I’m having is truly such a joy, and I’m grateful for it every day.
‘I’ve always had this crazy dream to change the financial literacy of an entire generation, and specifically to help empower women who statistically are often on the back foot.’
In all your time as a financial advisor, what are some of the most common issues that you’ve encountered when it comes to people’s spending habits?
VD: I see people all the time who are struggling with money, but are not aware of their budget and cash flow at all. By not understanding your cash flow you’re putting yourself on the back foot – you can’t figure out how to maximise your income if you don’t know where your money is going.
What does financial empowerment mean to you?
VD: To me financial empowerment is being able to live the life I want to live. It means ensuring that my money works for me and provides a passive income which in turn gives me the flexibility to reduce my work load or retire early if that is what I want to do.
What is the last book you read and loved?
VD: Normal People by Sally Rooney! It’s been recommended to me so many times but it wasn’t until recently that I picked it up one weekend and didn’t put it down until I was finished. It was such a great yet ultimately heartbreaking read that I’d recommend to anyone who likes reading fiction.
What do you hope readers will discover in She’s on the Money?
VD: I hope they will discover a sense of empowerment, when it comes to finance there are so many different ways to approach and structure things and there is truly no one size fits all solution. I want my readers to feel as though they have the knowledge, skills and resources to continue their self education and create the lifestyle that they’ve always dreamed of.
And finally, what’s up next for you?
VD: I don’t want to stress about the ‘next thing’ – I want to take the time to enjoy what I’ve created and to celebrate my community!
Thanks Victoria!
—She’s on the Money by Victoria Devine (Penguin Books Australia) is out now.
She's on the Money
The ultimate millennial money guide, from the creator of Australia's #1 finance podcast
Through her phenomenally popular and award-winning podcast, She's on the Money, Victoria Devine has built an empowered and supportive community of women finding their way to financial freedom. Honest, relatable, non-judgemental and motivating, Victoria is a financial adviser who knows what millennial life is really like and where we can get stuck with money stuff. (Did someone say 'Afterpay'...?)...
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