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Transcript

Why Everyone Needs an Emergency Fund. · The Curve

0:01
Welcome to I Owe You Some Money Education because we owe you and you guys owe me some money education
0:07
because I didn't really learn it growing up.
0:09
We're Soph and Vic from The Curb and we have roped in
0:12
Lucy Blackison from She You Should Care About so that she can ask all the questions that you wish
0:16
you could.
0:16
And if you want to watch this episode on YouTube click the link in the podcast show
0:19
notes below and please leave us a comment, rate, review, share with your friends, we'd love to hear
0:24
it.
0:24
Oh my god and actually also if you want to see me learn how to implement everything that they've
0:29
tried to teach me.
0:30
We have IOU, the practical lessons where there's actually a course where
0:34
you can do everything we've taught you how to do.
0:36
It's really easy.
0:37
It's really fun.
0:38
The link for
0:39
that is also in the show notes.
0:41
Coming up in this episode, we spoke all about emergency funds,
0:45
which again was something that I didn't have set up, even though I'm someone that can be quite
0:49
prone to an emergency.
0:51
I really loved this one because we kind of talked about how much or how
0:55
many months you should have in your emergency fund to make sure that if you needed to get out
0:59
of some sort of situation or if you had a car breakdown or you needed to I don't know move house
1:06
really quickly you had enough money to make sure that you were safe and you could do that so it was
1:11
a really important episode but then it was also quite funny because you all sent in the most
1:17
unhinged things that you had spent your emergency fund on and honestly some of your animals sound
1:23
like pure admin but we know you love them and that seems like if it's up your alley a great
1:29
thing to spend your emergency fund on so I think you're going to love this episode as I say every
1:33
single month but I promise you you will.
1:43
This episode of IOU some money education is proudly
1:46
brought to you by the Bank of New Zealand.
1:48
When you're just starting out managing your money
1:49
should feel easy so that you can focus on winning at whatever you're doing.
1:53
Whether you're flatting,
1:54
saving to travel or making a career move, they have all the tools to help you master your money
1:58
from the get-go.
1:59
Thanks so much to the Bank of New Zealand for making IOU, some money education,
2:02
possible.
2:03
Don't forget to check out IOU The Practical Lessons to put what you're learning
2:06
into practice.
2:07
Find the details in the podcast show notes.
2:10
So we are back for episode three.
2:13
I know and I also must say like when it comes to reflecting on my money, a whole month so much
2:19
happens yeah it's like having therapy twice weekly where you're like it's actually not enough every
2:24
two weeks too much shit happens in my life yeah twice weekly oh whoops i mean roughly
2:28
what are you going through also like where do you get the money geez that's like yeah
2:34
no i've had to spread it out to buy weekly because it's too expensive every week
2:38
i was going to say she's in the red because she's having two times therapy sessions a week
2:43
she's having a tough month how is everyone who's in the red who's in the green
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never not in a million years absolutely not in the red green with envy or green
2:56
I'm in the red yeah why because I I don't really like festivals that much I'm not really a festival
3:03
girl I'm not even actually really a concert girl because I'm really short and I get quite claustro
3:07
but I went to laneway and laneway is just the one that I will always go to and just because
3:15
has a great lineup but it always alcohol yes does the pope catholic does the pope
3:21
does the pope shit in the woods
3:22
does a bear shit in the woods and is the pope catholic like the answer to that uh yes yes yeah
3:34
um yeah i drink alcohol um is it okay hey what sort of alcohol um honestly i love wine because
3:42
It's like my brother and my best friend are both winemakers
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and I come from Blenheim, which we make a lot of wine.
3:48
Anyway, kind of irrelevant, but not really,
3:51
because maybe I'm in the red because I was at this festival.
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I had to get accommodation.
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I was flying up to Auckland.
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Oh, yeah.
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You buy a lot of alcohol.
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You have a great time.
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Festivals are expensive.
4:00
The tickets are expensive.
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But it's my one thing, one festival that I will go to every year.
4:06
Are you the person that will shout rounds of drinks
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and then the next day be like, why did I do that?
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I won't be like, why did I do that?
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But I will be like, drinks on me.
4:16
Yeah, I'm more like shots, shots, shots, shots.
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I brought my brother to Laneway this year.
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I love how close you and your brother are.
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It's really cute.
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It is cute.
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But anyway, he can't afford drinks.
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So I do end up being the one that shouts.
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And you know what?
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I don't mind it because I know he would do the same for me.
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Yeah.
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Yeah.
4:33
Soph, you?
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I don't feel comfortable sharing mine.
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Can you go first?
4:38
Yes.
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Okay.
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I'm also in the red.
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I've just had a really great friend's wedding.
4:44
Oh.
4:44
And it was, yeah, a lot of accommodation, flights.
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There was, yeah, there was a lot.
4:51
A destination wedding?
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New outfit.
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Okay.
4:54
Destination wedding.
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I'm kind of vetoing weddings from now on.
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No, but I'm glad that I was back to go and be there.
5:01
Yeah.
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But I am hoping next month I'll be back into the green.
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I mean, we're always hoping to be in the green, aren't we?
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It's a bit flip-floppy for me.
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Red, green, red, green, red, green.
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What?
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Okay, attention seeker.
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Guys, I just, okay, here's the thing.
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So, I'm single and I've been dating.
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For all of those listeners who are paying close attention to our personal lives,
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I just want to let you know that this episode was recorded a little while ago when I was dating.
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For anyone that's now wondering why I'm talking about dating and they're like,
5:31
what?
5:32
You've been talking about being in a relationship, that is why.
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Okay, enjoy the episode.
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and I have found myself on one too many dates that someone has suggested a restaurant and I thought
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fun surely they're gonna pay for it that they've the one that suggested it it was their call and
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then I end up and basically I'm in the red because I have not budgeted for this shit and dating's
5:52
expensive it is so now I'm in this weird position where I'm like I don't want to be I don't know
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I'm conflicted on this and I'm kind of keen to hear your thoughts actually on this Lucy but like
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I personally feel like date one or date two,
6:06
if you suggest somewhere,
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you kind of like it's your,
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you should be paying,
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but that's not happened a couple of times.
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And I'm just feeling a bit like,
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Oh,
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I,
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I actually can't afford to be dating if this is how much it costs.
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Have you ever had to pay for the whole day?
6:19
Yeah.
6:19
Yeah.
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And I actually,
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do you know what for them as well?
6:22
Yeah.
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I actually broke up,
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not broke up.
6:23
I was sort of dating someone quite casually.
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This is when we lived in Australia actually.
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And I,
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yeah,
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it was like,
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I just,
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he was so it's really interesting now I reflect back on how I dealt with the situation definitely
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could have done it better but basically I actually phased him out which was immature and I wish I
6:39
hadn't done that but then he asked me afterwards hey what what like what happened because like she
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was really into that and I was like yeah I just felt like you're a bit weird with money but I
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didn't which I terrible for me and I wish I could go back and redo this but he basically would
6:52
we would like he would have stayed at my house we would have like gone out the night before I
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would have paid for drinks we would have gone out for brunch in the morning he got breakfast and i
7:00
got like a marcher and i paid for the whole thing and i was kind of like this just feels shit and i
7:03
feel like i'm being used but rather than communicating it you just ran away i just kind
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of ran away which is dumb and i wish i hadn't done that but anyway pointers yeah i'm i'm finding it
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like i want to date what about going to the park going for a walk going to it's just sexy and
7:18
romantic you kind of want the like context to be this could be fun and sexy yeah and i feel like
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let's do a round of the block is not really giving that no I think because dating is so low on my
7:30
agenda of things I want to do if it was also draining my finances and it was spending time
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with a man that's like two red flags I'm not doing either of that yeah right but I'm in a different
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phase of life like I'm full independent Lucy right now why did I think at some time in the recent
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future like recent future recent past you were talking about hinge did I imagine that yeah I did
7:53
a little hinge stint and um it was fine for the time being but also you guys know living in New
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Zealand it's a very small pool and you actually end up dating the annoying thing okay never dated
8:04
my cousin my cousins are also mostly all like bogans there's also an issue though that like
8:09
now that I've shown my face on shit you should care about I don't like using apps because people
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if they recognize me and they know what I do they have a preconceived notion of me and there's been
8:20
times where I like go to parties or whatever and people like want to argue me on gun rights and
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things like that I'm like oh my god I can't even have some drinks one time someone brought me into
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the bathroom a guy and was like basically like to me we need to cancel my boss who the fuck do you
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think I am this is not like a hotline for cancellation so I'm trying to have a drink
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so stupid also
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anyway I
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I get that I get people at bars coming up to me
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and be like Vic what should I invest in
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and I'm like what's a quick win
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what's your best investing tip
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leave me alone I just want my tequila
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yeah so anyway but I wouldn't pay
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for a date I can't believe you're paying the whole thing
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but honestly that's an ick for me
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half and half I think that's a slay
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I actually like that
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paying for the whole thing
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it's not cute it's also absolutely not within my budget right now so i think i mean i have to like
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reset this i'm not sure what the tactic is but it might have to be like also like if i invited
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either of you to dinner and then kind of sat there and we're like are you gonna pay like that seems
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crazy it's weird when someone invites you on a date and then anyway only a man would do that
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no offense a kind of i'm just also like so you're in the red so look i'm in the red yeah i'm spending
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all my fun money on dating which is not what i'd plan my fun money for because then it means i can't
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spend on friends and that's just a real like and i guess if you're like a perpetually single at some
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point this is feeling really tragic no it is like eventually it's an emergency so you have to yeah
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no it's not don't give me that so yes an emergency funds is where your surplus goes part of your
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yeah so it's weird like it's like an fu fund right it's like if shit hits the fan
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then you can dip into your emergency okay and usually it's about three months of your
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essentials okay so in the previous episode we talked about how you split it into your
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needs your wants and your surplus and then that surplus amount first of all the first thing you
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should do is create an emergency fund so it's basically like should anything go wrong you don't
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have to get a credit card or like you know quote unquote bad debt in k like you don't want to be
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paying interest on your emergency to make it even more expensive so it's like if you have this like
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pot that you can dip into should your car break down again or it's also just peace of mind right
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knowing that like if something does go a bit of rogue or a bit haywire it's like it's not going
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to send you into a tailspin I will say I think from like a um like peace of mind standpoint
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having an emergency fund for me has been so like I can't even explain it I never had this I never
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knew what an emergency fund was growing up my my parents never told me to do it it was probably in
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the last I don't know maybe two years that we started talking about more personal finance type
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stuff and I had this like light bulb moment of oh god okay well I don't have an emergency fund
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I've got like so you can kind of have between three and six months of your essentials right
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so like for me I went for about four months because six months is a lot of money to just
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have in like a low interest yeah type situation not in large well not low but like okay we'll
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get to that in a second but basically you're better putting if you can putting a lot of that
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your surplus in the in investments rather than having like a huge amount sitting there for
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yeah an emergency like unless you think you need that but basically I have it in a high interest
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savings account and when I started building it I just put like 300 pounds of repay into it and now
12:01
I've got to a place where I have like nearly four months of my essential so yeah should shit totally
12:07
hit the fan I can afford my life for four months it's which is pretty amazing yeah it's also like
12:12
say you're you started absolutely hating your flatmates and you were like get me the f out of
12:17
here yeah ben blakiston see you later see you later i need to live somewhere else but you
12:22
couldn't afford to you couldn't afford to pay a deposit or you couldn't afford to pay a bond
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yeah or you find out your flatmate's eating all your food and stealing your clothes and you want
12:30
to get out like absolutely hating life but you're stuck in this shitty situation like you can be
12:35
like no actually i'm going to dip into my emergency fund and move and get out move places so that my
12:39
peace of mind and my yeah it's so much jobs if you're like really yeah boss and i want to cancel
12:43
her yeah but yeah that guy should have had an emergency fund and left that job yeah so what
12:48
kind of account should i put can i quickly tell you another one this is something that happened
12:53
to our producer emily as her she didn't use it as her emergency fund but she should have used it as
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her emergency fund so she was basically traveling she went into a hostel in like slovenia or
13:03
somewhere walked into the room and this guy was wanking and she didn't think i'm gonna go book
13:10
accommodation somewhere else because i feel unsafe but that is an example of like she should have
13:13
been like i've got an emergency fund i've got money when i'm in a sticky situation i'm gonna
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book an airbnb to get out of here you know like it's yeah i know isn't that wild yes but like
13:24
that's an example right stuff that goes wrong that you kind of don't predict but if you have
13:27
this backstop of financial like and you can actually say you don't have to go and like lie
13:31
there next to him and be like fuck fuck fuck oh yeah gross right it's so bad okay well can
13:37
i ask a question then what kind of account should i put my emergency fund into because if i need
13:43
access to it quickly that is the key yeah yeah so it can't be in something like a term deposit
13:49
because that is like six months 12 months two years even if you run the bank and like i'm
13:54
literally in an emergency can i have it can you not get it out of a term deposit no and they charge
13:59
you like quite high fees to get out because you're breaking the agreement.
14:03
So it's got to be in something that is generating a return,
14:07
not your transaction account, but not your investments,
14:11
not a term deposit.
14:11
Okay.
14:12
But I think we should play an IOU.
14:14
Yes.
14:14
Oh, my God.
14:14
Get Rhys out.
14:15
Oh, my God.
14:16
Get Rhys out.
14:17
My favorite part.
14:19
Okay.
14:19
So Rhys is our piggy.
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She's our pet piggy who is sitting behind us on a little.
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And she has little questions in there about whether something
14:29
is an emergency or not and so we're going to pull them out pull them out of her basically called it
14:33
i.o.u and answer this is the whole point yeah yes
14:37
an answer
14:43
maybe this is a whole lucy segment because we all look and i obviously know the answers to
14:47
these so this can be testing you okay your fridge dies in a heat wave only replacement you can find
14:54
is a 1500 pound smart fridge worth it question mark oh my god okay oh my god emergency fund okay
15:02
so i'll talk you through my thinking fridge dead yes well i love how seriously you're taking this
15:10
answer fridge dead heat wave it's going on rotten rotten smelling chicken must eat it all though
15:19
Okay, yum.
15:21
Or toss.
15:22
If I decided that I should just order Uber Eats and stuff,
15:26
that is stupid because then soon I'm going to be paying
15:30
1,500 pounds on Uber Eats, so I should just buy the fridge,
15:33
and I think that's an emergency.
15:35
But I wish it wasn't a smart fridge because I don't need it.
15:39
I would say the Uber Eats would be the emergency,
15:45
and you'd wait it out a few days to get it repaired.
15:49
oh my god i didn't know that was an option i thought when you said dies like you can't
15:52
resuscitate well if you also if you can't resuscitate you don't need a 1500 smart fridge
15:55
yeah yeah but okay this was a bad question i'm not sorry it kind of like lead you to like only
16:00
replacement you can find is 15 000 okay that was very very unfair but what i would say is the idea
16:06
with that is like is it an emergency do you dip into the fund i actually would personally say yes
16:11
i feel like a dead fridge is not something you can plan for i would be pulling out of my emergency
16:15
fund yeah i mean not for a smart fridge yeah i don't know but a new fridge i'd probably just
16:19
move house just buy a new house okay the whole house i would move overseas actually i'd be
16:24
moving i'd move away justify it to yourself but no this is a good good like this is a good thing
16:30
to talk about because you can justify anything anything as an emergency and you're only kidding
16:35
yourself right god this one is a hundred percent an emergency fund because there's no other option
16:44
You crack your tooth on popcorn
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Dentist says you need a £2000 root canal
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Emergency fund
16:51
Yeah
16:52
Isn't that like the textbook definition
16:54
Yeah 100%
16:56
In fact I think often when we talk about emergency fund
16:58
We say for example if you need a root canal
17:00
I mean
17:03
Try and get health insurance
17:04
Or something that covers that
17:06
But dentists hardly ever
17:07
I know they hardly don't
17:08
Mine used to and it was great
17:11
I used to go to the dentist all the time
17:12
Oh my God, I've had a root canal.
17:13
I actually had to get them to give me some sedation
17:15
because the whole idea just made me feel so sick.
17:18
Oh, it's so freaky.
17:19
Teeth freak me out.
17:20
Yeah, well then how come you were talking about veneers like, ugh.
17:23
I fell over and cracked my tooth and had to get it repaired.
17:26
You what?
17:27
I fell over.
17:27
I was there.
17:28
Yeah.
17:29
Oh my God.
17:30
It was quite gnarly.
17:31
You actually need to stop having falls.
17:33
That was actually, she was such a trooper.
17:35
She fell, bumped her like,
17:37
and I'm pretty sure we were in front of a guy that you had a crush on at the time.
17:40
Yeah, no, we'd hooked up.
17:41
Oh, you'd hooked up.
17:42
she chipped her tooth on the concrete i went face i face planted and she was just like i'm fine
17:47
she was such a legend about it though like i remember everyone was like oh my god and so it's
17:51
like um um i was worried because i was like you're being such a trooper when your friends can't look
17:56
at you you know like what's on my case didn't you go get an emergency tooth i feel like you did it
18:01
where we we're away for the weekend but you found it yeah i was going to a festival and i just needed
18:05
it done for the festival i was like there's no way oh there's no way i'm not going there's no
18:10
No way I'm going to a festival with my two.
18:12
Okay, friends surprise destination birthday,
18:15
a weekend overseas next month.
18:17
Okay, shitty friend for only giving you a month.
18:20
Friendship emergency.
18:21
I think I'm really boundaried with my friends.
18:25
Are you?
18:25
And, like, they would understand me saying no.
18:29
But also, if it was my best friend, I'd probably go
18:34
because I actually, like, I know this is,
18:36
I'm not answering the question properly.
18:38
Is this an emergency fund thing?
18:39
no it's not
18:40
no it's not
18:41
no it's not
18:41
but would I do it
18:42
yes I would
18:43
like for Ruby
18:45
yes I would
18:46
I love that
18:46
not from out of my
18:47
emergency fund though
18:48
yeah nice
18:48
what if she was like
18:50
really sick
18:51
what
18:52
oh we'll just change
18:53
that so drastically
18:54
okay best friend
18:55
dying
18:56
yeah
18:56
she's dying
18:57
and this is
18:58
on a last minute trip
18:59
that she's sprung on you
19:00
yeah okay
19:00
that is emergency
19:01
this is so dying
19:02
I feel really sad
19:03
sorry
19:03
I really don't want that
19:04
to ever happen to Ruby
19:05
but
19:06
but
19:08
I think the point
19:09
here that I want to pick up on is you being
19:11
boundary with friends because I think that's where a lot of
19:13
people spend too much money is
19:15
not feeling boundary or being able to say no
19:17
to things.
19:18
What kind of advice would you have
19:19
for people who struggle to say like no to a lunch
19:21
or no to a party or a festival?
19:24
I just think I don't get
19:25
FOMO so it's like quite easy
19:27
for me.
19:27
I know.
19:28
I think
19:29
Do you live in this world?
19:30
I don't
19:31
get FOMO because you can have
19:33
fun and that doesn't take away
19:35
from me.
19:36
Like the fact that you're all
19:37
having fun doesn't mean you're explicitly having fun because i'm not there or you're having fun
19:42
without me i'm not part of that equation no do you know what it is it's because i'm a toddler
19:46
once again with object impermanence so if i'm not there and i don't see it i don't give a
19:51
like when i move overseas and i'm not seeing my friends every day i don't miss them can you
19:56
understand the object impermanence i have the exact same thing it's also like you can often
20:00
forget to check in with people because if they're not on your immediate order like i have to have a
20:03
babies if reese with a spoon was here the baby would be obsessed with it if you take it away
20:09
the baby has completely forgotten about it me and not to make it dire but actually it really
20:15
is helpful in terms of grief like when you're grieving if you have for me because i have object
20:20
impermanence i am not thinking about it 24 7 and it's actually like works in my favor
20:27
so not to make it a psychology podcast but quite interesting yeah yeah so i don't get fomo because
20:32
if I'm not there I'm not thinking about it.
20:34
Do you just then mute
20:35
the internet?
20:35
Like what are you doing there?
20:36
I'm the same like if I've chosen
20:38
not to go to a festival like actually this happened
20:41
not that long ago about I went to the pre
20:42
thing because I like the pre thing because it's like I enjoy
20:45
the chats with people before.
20:46
Yeah.
20:46
And then as soon as you get to the festival and everyone's just like off
20:48
their face I'm like I'm kind of over this.
20:51
So I bowed out of the actual festival
20:52
part.
20:53
Felt absolutely stunning
20:55
about it.
20:55
Was at home.
20:56
Feet up.
20:56
Maybe having a nap.
20:58
But then as soon as I see
20:58
it on Instagram or something I'm like
21:01
oh a bit of FOMO.
21:01
But if I don't see it
21:02
No fun though.
21:03
I think I get Jomo.
21:05
Like if I say I have joy of missing out, I'm like, okay,
21:08
maybe it's because I don't know how to say this without sounding narcissistic,
21:13
but it's like because I know that I'm quite a fun person to have around.
21:18
Like I know that they probably wish I was there.
21:21
So it's not like they're having fun in spite of me.
21:25
Like they're not trying to make me jealous because they know I'm not jealous.
21:28
I don't know if this is making sense to anyone.
21:30
No, I know what you mean.
21:31
I just know
21:32
that if I was there
21:32
it would be a great time
21:34
but because I'm not there
21:36
not that it's going to be
21:37
a worse time
21:37
because I'm still going to have fun
21:39
I just am like
21:41
I don't know
21:41
I reckon it's
21:42
you just have conviction
21:43
the decisions that you make
21:44
when it comes to your energy
21:45
the friends
21:46
the people you spend time with
21:47
I think it's just like
21:48
I'm very decisive
21:48
which is so great
21:50
I love making decisions
21:51
should we do one more?
21:52
yeah
21:53
okay Rhys
21:53
give me a good one
21:55
cat swallows ear pod
21:57
surgery needed
21:59
emergency fund okay if this is so rogue if the cat's not gonna die and it's just gonna shit it
22:08
out i'm not getting surgery on a cat yeah fair and like my ear pods honestly oh well then i'm
22:14
like is an emergency fund to buy new ear pods kind of for me because me too i need them often
22:22
i walk around with my ear pods and just noise canceling the world exactly the same i find noise
22:27
really overstimulating so i will just yeah like i have four pairs now it's really stupid okay
22:33
because i keep losing them and finding them and then like for example i got some pants like taken
22:38
in the other day and i left my ear pods in it and i went to pick it up and they were like
22:41
had them a little baggy for me i was like cute cute but i've already bought another pair
22:47
sorry continue um cat needing if the cat really needed surgery yes i would spend it and that
22:52
would probably come out of my emergency fund but you should get pet insurance 100 yeah pet actually
22:57
when it comes to cash and burn i've got a bunch of good animal stories should we actually do that
23:03
now i feel like this is a perfect opportunity let's put reese back on a perch oh she goes
23:10
cash and burn
23:16
so cash and burn is where i've reached out to the shit you should care about audience to ask
23:22
for their kind of unhinged money stories.
23:26
And the question I asked for the emergency fund prompt was,
23:30
what is the wildest thing you've had to use your emergency fund on?
23:34
And also, what is the farthest you've gone to get money quickly?
23:39
Oh, I quite like that one.
23:40
Okay, so for the farthest you've gone to get money quickly,
23:44
someone sold undies on Craigslist
23:48
and met up with a George R.R.
23:50
Martin lookalike for the exchange.
23:52
He spontaneously asked for my bra too, which I then sold him for $70.
23:56
You're joking.
23:57
Oh.
23:57
This is the best story I've heard in a really long time.
24:00
She just took her bra off.
24:01
Yeah.
24:01
Yeah.
24:03
Ooh.
24:03
Okay.
24:04
What a creep.
24:04
I'm also kind of like bold from you.
24:07
I know.
24:07
I kind of love that she felt comfortable doing that.
24:09
Yeah.
24:09
Same.
24:10
Because imagine how much money we could make.
24:12
I've got a lot of underwear.
24:14
You know?
24:14
Okay, girl.
24:15
And they're pretty ugly.
24:15
Diversify those investments.
24:17
Yeah.
24:17
I think I would see them in the post.
24:19
I don't know if I'd meet up.
24:21
I would not meet up with someone that was wanting to buy my intimates.
24:23
And put a false return to see the intimates.
24:27
I let some guy tickle my feet on camera with a feather.
24:30
It was so weird that my ticklishness literally just stopped.
24:34
He gave me 25 bucks to leave.
24:37
Wait, sorry.
24:37
How is it on camera and in person?
24:39
I don't get that.
24:40
No, this one's a different person.
24:42
Wait, so sorry.
24:43
No, no, no, no.
24:44
Yeah.
24:44
Okay.
24:44
I let some guy tickle my feet on camera.
24:47
He was filming.
24:47
With a feather.
24:48
He was filming it.
24:49
And then it was so weird that my ticklishness stopped.
24:52
He gave me 25 bucks to leave.
24:53
So she went to his house, camera set up, feet tickled.
24:58
Can I just say on this?
24:59
So wrong.
24:59
I'm more confused by why she got paid to leave.
25:02
I thought she'd be paid to stay and have more feet tickles.
25:04
No, because apparently her ticklishness went,
25:09
so she was no longer worthy.
25:11
It's almost like body is like, computer says no, I'm not ticklish.
25:14
I'm just like, how do people get in these situations, right?
25:17
How are you getting in touch with someone that wants to buy your underwear?
25:20
Yeah, I know.
25:21
How are you getting in touch with someone that wants to?
25:23
What is Craigslist?
25:24
It's like marketplace, Facebook marketplace.
25:26
For feet and undies?
25:27
No, just for anything.
25:29
Back when I was 18, okay, this I think is actually smart and kind of awesome.
25:33
Nah, I don't know.
25:34
Yeah.
25:34
Back when I was 18, my sister and I sat in a parking lot for four plus hours doing scratchies.
25:40
We started with 20 bucks, kept going in the same lotto store.
25:43
In the end, we only came out with $80.
25:46
but that's 20 bucks an hour if they did it for Ford
25:48
quite.
25:48
Yeah true.
25:49
But it's gambling
25:50
I just don't know if I can actually promote that.
25:52
No but I mean
25:53
But I like the thinking of probability
25:56
if we hit the same lotto store
25:58
time and time again we're bound to win
26:00
you know.
26:01
This one's disgusting
26:02
I sold my cut off toenails
26:04
for 100 bucks
26:06
and I had to mail them to another country
26:08
Could we just pause on that for one moment
26:10
so
26:12
do you think she took the whole toenail
26:14
Oh, no, no, no, no.
26:16
As in?
26:17
No, just the end.
26:17
Your brain goes weird places.
26:19
Just the end of the toe.
26:20
Yes.
26:21
I used to when I was.
26:22
But what is someone doing with that?
26:23
Wait, I feel like Vic has an interesting story.
26:26
Not about toenails.
26:27
Oh.
26:27
No, no.
26:27
I thought you were going to say I used to collect them or something.
26:29
No, no, no.
26:30
I, no, when I was little, I remember I got this like glue stick that didn't stick.
26:36
So I wrote into the company that owned the glue sticks.
26:39
Oh, of course you did.
26:40
And I was like, hey, my glue stick doesn't stick.
26:41
Like, and so they sent me free glue sticks.
26:44
and then I got in my head I was like I could write into every company and so I wrote into like my
26:51
twink doesn't twink my pen doesn't actually my twink doesn't twink why does twink have a whole
26:55
another meaning now and I just got all this free stationery and then I started feeling she is an
27:01
entrepreneur everyone no did you sell it on or borderline illegal like that is yeah that's quite
27:06
naughty I know and then I kind of got to the point I also like I did it for socks I said I only got
27:10
one sock not two.
27:11
You really went for it.
27:13
She went for a scam artist
27:14
sort of era.
27:16
And then I was like
27:17
oh actually
27:17
no this is borderline
27:19
illegal and stopped.
27:20
No you didn't.
27:21
Someone else told you that
27:22
surely.
27:23
And then I just came
27:24
to the conclusion
27:24
all on my own.
27:25
All on my own.
27:26
I got my conscience.
27:27
No.
27:27
I was enlightened
27:28
at eight years old
27:28
and I thought
27:29
put on three socks for me.
27:30
It's funny how your
27:31
little brain thinks right
27:32
when you're like
27:32
oh hang on
27:33
well that like
27:34
I could do this for you.
27:35
Yeah anyway.
27:36
I used to call the
27:36
push play hotline
27:37
that was like
27:38
30 minutes a day
27:39
you've got to push play
27:40
and then you ring it
27:40
and they send you
27:41
a free beach ball
27:42
and I got like
27:43
so many free beach balls
27:44
fun
27:45
yeah
27:46
um okay
27:47
I used to sell my sister's
27:48
clothes on Trade Me
27:49
that's fucked up
27:50
she'd left them behind
27:51
if she went to uni or something
27:51
but well you're not
27:52
gonna wear it so
27:53
my sister would borrow stuff
27:54
and she'd be like
27:55
I gave it back
27:56
and I was like
27:57
you didn't
27:58
I know
27:59
and then she'll put
27:59
there'll be like
28:00
something that goes on
28:00
Instagram
28:01
she's like
28:01
sorry
28:02
I'm like
28:03
oh
28:05
not like great
28:06
could you give that back
28:07
yeah
28:07
and then you forget
28:08
and then I get the
28:08
object impermanence thing
28:09
and I forget that I even had it.
28:11
Yeah.
28:11
Then now it's her wardrobe.
28:12
Sometimes I do that with things that I order online.
28:15
It's not good.
28:15
Like, it just will never arrive.
28:18
And I've forgotten that I've ordered it.
28:19
I also, like, for example, I did that with – this is a bit naughty,
28:23
but I got something from Zara not that long ago,
28:25
and I thought I'm going to buy all these things because I had this event
28:27
and I didn't have anything to wear.
28:29
Did a last-minute try to get some – anyway.
28:32
I put the dresses in a bag to take back because I was like,
28:35
this is a real waste.
28:36
I need to return these.
28:38
But the bag I forgot about.
28:39
then I forgot that I had to return them.
28:41
And then next thing you know, I've got these stupid dresses
28:43
that I've now crossed the 30-day return.
28:45
And it's so annoying because it's such a waste of money.
28:50
I don't even know if that's object impermanence or if that's just stupid.
28:54
You should have said a reminder maybe.
28:56
I also – oh, this is actually taxed.
28:58
Oh, no.
29:00
Oh, my God.
29:01
As she's gotten older, it's just gotten more and more scammy.
29:03
I remember buying items when I lived in Sydney
29:06
and then you go to New Zealand
29:08
and get the tax back
29:09
when you left the country
29:10
because you get the tax back.
29:12
But then I remember
29:12
this one dress,
29:13
I took it back to New Zealand
29:14
for like a wedding or something,
29:15
didn't actually end up wearing it
29:16
but got the tax back on it.
29:18
Quite genius.
29:18
What do you mean
29:19
you get the tax back?
29:19
Flew back to Australia
29:20
because you get like,
29:21
if you buy,
29:22
you don't have to pay like GST
29:23
or like whatever the country.
29:25
You can go to the airport
29:25
and you can line up
29:26
and you can tax refund.
29:28
Yeah.
29:28
If you're not living in the country,
29:29
you're not paying tax
29:30
for that country.
29:31
So you get it back.
29:31
You get it back.
29:32
So you get like 15%
29:33
of your purchases back.
29:34
Do you have to take all the dresses and stuff?
29:36
Yeah, and you have to just show them.
29:38
So you're best to do it with electronics.
29:39
If you buy a computer.
29:40
Like an iPhone or something.
29:42
While you're in another country.
29:43
And then you get the tax back.
29:44
Yeah.
29:45
Do you do that all the time?
29:46
Like my boyfriend needed a new laptop and I was like,
29:48
we should buy it when we're in Paris.
29:50
Because then you get the tax back.
29:51
So it just makes it like a little bit cheaper.
29:53
Oh my God.
29:53
There's all these ways that the wealthy get wealthier.
29:56
Because they know all this shit.
29:58
But I did this for the dress.
30:00
And then I didn't end up wearing it.
30:02
came back to Sydney and sent it back because it was in the 30-day returns and then I was like
30:08
oh my goodness I got the tax back off that so I got like did they just refunded more than what I
30:14
actually paid for the dress in the end oh my god but and then I yeah I was like no no no that's
30:18
yeah naughty you are totally naughty no but it was like that was by accident yeah that genuinely
30:23
was by accident yeah yeah yeah don't worry I don't think the you know officers will be coming
30:27
well who knows this could be a really viral pod yeah i know okay and then the wildest thing you've
30:34
had to use your emergency fund on i mean lots of people said like concert tickets blah blah blah
30:38
but the only ones i wrote down were the animal ones because some people just go like above and
30:44
beyond for the animals and fair enough fair enough yeah emergency fund went on an enema for my cat
30:50
i tried to sell feet pics online to rebuild it hold on one moment um what would be the
30:57
how on earth would a cat even have an enema?
30:59
And is that...
31:00
Isn't an enema up your pee hole?
31:03
No bum.
31:03
A surgery for my constipated lizard
31:05
to have 10 grams of poo removed from her tummy.
31:08
It costs $4,000, but she's okay now.
31:11
Surely there's a joke.
31:13
Who has a lizard and who has a constipated lizard?
31:15
And also, okay, I feel like I've been totally duped, joked.
31:19
Like this must be a prank.
31:21
But maybe it's real.
31:21
But also, okay, because what's the other option?
31:23
I think quite a niche vet would be a lizard vet.
31:25
So like maybe there is a scarcity, so therefore it's expensive.
31:28
Do you know what I mean?
31:29
Also feed your poor lizard the right stuff so it doesn't get constipated.
31:33
Get lizard insurance, okay?
31:34
Lizard insurance.
31:36
My very intelligent cat ate a couple of Q-tips, $800 vet bill.
31:41
Luckily they were biodegradable organic Q-tips.
31:45
Train your cat better.
31:46
And then also.
31:47
We're being so judgmental.
31:48
My cat ate a loose string from my blanket $4,000 later.
31:53
What?
31:53
Did it get wrapped up?
31:54
Do you think around like something in there?
31:56
Just don't have a cat.
31:57
Honestly, it's not even cats.
31:59
Animals are expensive.
32:00
Yeah.
32:01
Cats are just not.
32:02
I mean, you had a dog.
32:04
I reckon, and this is what I was thinking recently,
32:06
because someone at the Curves dog got really,
32:08
actually Vicks, but also someone else's dog got really sick.
32:10
And they had to go to a dog hospital.
32:12
And it was like really expensive.
32:14
And I know that you have pet insurance, but it's not.
32:16
You still have to pay excess and stuff.
32:18
It's so expensive.
32:19
Wow.
32:20
I can't afford to be a mom yet.
32:21
But the joy that they bring.
32:23
I know.
32:23
Yeah, but like, can I afford it?
32:26
I can't afford to have a cat.
32:27
Plus, I'm not home enough.
32:29
Yeah.
32:29
But I have seven other people that could look after it at home.
32:31
Exactly.
32:32
Because I live in a hostel.
32:33
So basically, this has been a very uneducational, I think, podcast.
32:36
The whole point here was to teach people about emergency funds.
32:39
Yeah.
32:40
I think by teaching people what is not an emergency is just as good as, yes.
32:45
Agreed.
32:46
And the whole point here is everyone needs different emergency fund amounts, right?
32:49
Oh, yeah.
32:49
Because everyone has a different amount that they need to spend each month on the things that they need.
32:53
Like if you have a pet, maybe you need slightly more in your emergency fund.
32:56
True.
32:56
Yeah.
32:57
And you can figure out exactly how much that is by doing IOU, the practical course, because
33:02
I think this is not, like we're not going to go through numbers and stuff here.
33:05
It's very boring to do on a podcast.
33:06
Yeah.
33:07
So if you would like to know how much you should have.
33:08
And we're not going to go through every single thing that could count as an emergency.
33:13
Hopefully, you know, there's been a few pretty good examples.
33:15
Because lizards would probably not make the list.
33:17
No.
33:18
I disagree.
33:18
I disagree.
33:19
If you had a lizard, a pet lizard, and it got sick because it needed to do a massive
33:22
poo you would put that in your emergency
33:24
car I just wouldn't have a lizard
33:26
and I would just mess up just tummy or something myself
33:29
no I wouldn't
33:30
oh god what does it do an old fart
33:32
like it's so weird
33:34
oh my god
33:36
anyway
33:38
I figured out how you're going to earn that extra
33:40
credit
33:42
so last month's extra credit
33:44
oh yeah you had to do your money split
33:46
I had to split it which was actually new for me
33:48
if you listened to last month's episode
33:50
um i found it really interesting having to kind of hyper focus a little bit on my accounts this
33:57
month especially because you didn't used to look at no i didn't used to look at them and honestly
34:02
there's a part of me that's like i wish i wasn't looking at them so much still but it was really
34:07
interesting to see that honestly i had i had a lot more money left over that i could put into
34:15
surplus and um my emergency fund which didn't exist uh before my extra credit there was like
34:25
my needs were actually smaller no yeah I think I was lumping a lot of my needs and wants together
34:32
yeah which had a lot of people do that and now I realize okay your needs here and your wants here
34:38
and actually I was I spend quite a lot on my wants it's just also looking at what you spend
34:42
and what you spend money on and being like, holy shit, I actually spend like this much on eating out,
34:47
which you probably don't realize, you know, like all of that stuff can be super eye-opening.
34:52
But something that was good was like, it didn't make me feel guilty.
34:54
It just made me like be more aware of like, okay, needs.
34:58
This is how much you need to put in your emergency fund to like cover that for a few months or whatever.
35:02
Once you actually spend quite a bit.
35:04
Did you find that you felt more in control having done it in terms of like,
35:08
I know you're then looking at your accounts more,
35:10
but in a way knowing the amount you're spending on certain things did it feel yeah that's the
35:16
thing for me that helped so much is like I don't know even though it sounds like you're going to
35:20
be more restricted you feel so much more free and I felt then also less guilty spending on things
35:25
that I wanted because I'm like well this is a part of my well yeah money I put aside for it
35:29
I've budgeted for this yeah it makes sense yeah you do feel way more in control and it's actually
35:33
kind of fun yeah I agree it's quite fun yeah it's actually fun especially if you're quite like a um
35:40
like for me I'm quite good with goals so I think if I then have a goal and I'm trying to hit it
35:45
I get dopamine from like checking my account or like having spare leftover that I could move into
35:50
I don't know I find it like quite fun rather than stressful yeah and I actually think a hot tip for
35:57
anyone that hasn't done the practical yet is doing like especially in the beginning when you first
36:04
start learning how to split your pay is giving yourself a bit of a money date like doing once
36:08
a month sitting down with yourself and just like kind of re-looking at it because for me something
36:13
I found I had originally mine was the opposite to you I had actually I was putting quite a bit in my
36:19
surplus thinking I had it but then I was actually finding myself so stretched every month so I
36:25
actually pulled back on my surplus and it's taken quite a few months to get to a place and it's
36:29
still I don't put much in now because yeah otherwise I'm too stressed and I can't spend
36:33
money on everything else so um and reminding yourself that you're actually allowed to spend
36:37
money on not just your needs but your wants and you've budgeted for that because I feel like when
36:41
you're at school it's like well no you really should limit all your wants and not live life at
36:46
all yeah but being like okay no I'm aware of what I spend on things that I love just because I love
36:51
doing them is really nice and also makes you feel good that you make enough money and you can control
36:56
it well enough to do the things you want that's so so this extra credit was actually really sly for
37:01
me and again you should watch the practical because you can see how I actually split it all up I think
37:06
the fact we used actual numbers as well it makes it so much easier because you can actually see
37:10
how much to put in yeah yeah yeah slay okay can we say slay are we too old to say i feel weird
37:17
so do i because you just make it sound so natural and i'm just like i know i said it before i think
37:21
like by osmosis and as soon as it came out of my mouth i was like so i want to crawl into a hole
37:25
i don't suit that can't do it um okay well that's a mindset actually slay is a mindset
37:31
slay is a mindset money mindset slate mindset can i just say for anyone that's also listening
37:35
to this you can comment wherever you're listening and say it might be like questions you have about
37:41
what we're talking about you might have comments or anything like that it's actually really fun to
37:45
read people's messages yeah so like you can obviously message us on socials but actually
37:49
doing it publicly on the podcast platforms means that everyone can see it which i really rate well
37:54
and it kind of helps everyone to see the questions that everyone's wondering yeah so be brave yeah be
37:58
brave that's it for this month's episode of i owe you some money education if you liked the show
38:04
you know what to do.
38:05
Rate, review, and make sure you hit follow or subscribe or whatever it is to
38:09
make sure that you don't miss next month's episode.
38:12
And if you want to do IOU, the practical
38:13
course alongside Luz, you will learn everything that she's learning at the same time.
38:17
You can
38:17
hit the link in the podcast show notes.
38:19
Thanks for coming, Luz.
38:19
Hope you learned something and
38:20
we'll see you all next month.
38:22
Thank you so much, the Bank of New Zealand for sponsoring this
38:24
episode of IOU, Some Money Education.
38:26
There is an art to starting something new.
38:28
And just like
38:28
any art form, you need the right tools to make it work.
38:31
Whether you're flatting or you're saving
38:33
to travel, maybe you want to make a career move, the Bank of New Zealand has the tools to help you
38:37
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38:39
And don't forget to check out IOU The Practical Lessons
38:41
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38:43
You can find the details in the podcast
38:45
show notes.
38:52
Okay, quickly, the curve was created to empower and educate you about investing,
38:56
but we are not financial advisors.
38:58
Our platform exists for educational purposes only, and it
39:01
doesn't provide personalized investing advice for your individual needs and should not be relied
39:05
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And always remember to do your own research before
39:10
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39:12
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39:14
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39:16
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39:18
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39:18
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