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Transcript

Would You Leave Everything Behind to Be Mortgage-Free? And Asking for the Pay You Deserve · She's On The Money

• 0:00
  Speaker 1: Hello.
• 0:01
  Speaker 2: My name is Satasha Nabananga Bamblet. I'm a proud or
• 0:04
  Speaker 2: the Order Kerni Wholbury and a waddery woman. And before
• 0:08
  Speaker 2: we get started on She's on the Money podcast, I
• 0:11
  Speaker 2: would like to acknowledge the traditional custodians of the land
• 0:14
  Speaker 2: of which this podcast is recorded on a wondery country,
• 0:18
  Speaker 2: acknowledging the elders, the ancestors and the next generation coming
• 0:22
  Speaker 2: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 2: and the storytelling of you to make a difference for
• 0:30
  Speaker 2: today and lasting impactful tomorrow.
• 0:33
  Speaker 3: Let's get into it.
• 0:34
  Speaker 4: She's on the Money, She's on the Money.
• 0:57
  Speaker 5: Hello, and welcome to She's on the Money, the podcast
• 1:00
  Speaker 5: that makes finance.
• 1:01
  Speaker 3: Fun, especially on Fridays.
• 1:04
  Speaker 5: It is our favorite day of the week because I
• 1:06
  Speaker 5: get to get my little team together and celebrate you,
• 1:09
  Speaker 5: our incredible Shees on the Money community. As always, mister
• 1:12
  Speaker 5: Scricci is going to be sharing our favorite money wins
• 1:15
  Speaker 5: and confessions from the group. Beck, I don't know, maybe
• 1:19
  Speaker 5: you've got three broke tips to share with the community.
• 1:22
  Speaker 1: I don't know.
• 1:22
  Speaker 3: We'll see.
• 1:23
  Speaker 5: We've got a juicy money dilemma this week, which is
• 1:25
  Speaker 5: all about negotiating a better hourly wage and something that
• 1:29
  Speaker 5: you slid into our DMS about should you move away
• 1:32
  Speaker 5: from your family and friends so you can buy a
• 1:34
  Speaker 5: home outright and be completely debt free.
• 1:37
  Speaker 1: That's a big decision.
• 1:38
  Speaker 5: And I just have a lot of questions about how
• 1:41
  Speaker 5: you have enough money to buy a home outright? What's
• 1:44
  Speaker 5: that look like? We need to know anyway before we
• 1:48
  Speaker 5: get there. How are your weeks? My loves, that's been
• 1:51
  Speaker 5: good to.
• 1:52
  Speaker 1: The exciting happening.
• 1:53
  Speaker 5: Just plug it along, yeah, love for you, a bit
• 1:57
  Speaker 5: of live love, laugh, laugh, living my best sech energy.
• 2:00
  Speaker 3: Oh that's so lovely.
• 2:02
  Speaker 6: I had gorgeous week I had. My boss told all
• 2:05
  Speaker 6: of us to take annually. You just putt it nice
• 2:08
  Speaker 6: and its kind of like if you want a cancer,
• 2:10
  Speaker 6: because like it's like good for sorry, no different boss,
• 2:13
  Speaker 6: but it's good for the company apparently if you put
• 2:15
  Speaker 6: your leave in and so, like I like.
• 2:17
  Speaker 1: So they can plan I guess so.
• 2:19
  Speaker 5: Or it's like it's financially but it's because companies don't
• 2:23
  Speaker 5: like you accruing heaps and heaps of leave because it
• 2:26
  Speaker 5: sits on their balance sheet as a debt. So I
• 2:31
  Speaker 5: as an owner of a business, like I've got people
• 2:33
  Speaker 5: in my business, and like Jess has some annual leave
• 2:36
  Speaker 5: and it sits in my like my balance sheet has
• 2:39
  Speaker 5: a debt because if just leaves, I have to pay
• 2:42
  Speaker 5: her out. Yes, yes, so it's actually better for the company,
• 2:46
  Speaker 5: like if you took some leave, because then they get
• 2:49
  Speaker 5: rid of some of that debt.
• 2:50
  Speaker 3: But they're just.
• 2:51
  Speaker 5: Paying your weekly salary.
• 2:52
  Speaker 1: That makes sense. Well, I just like sprinkle it across
• 2:56
  Speaker 1: the ear.
• 2:56
  Speaker 5: And so I just like happened upon like set of
• 2:59
  Speaker 5: you know, smart about my finances when it comes to
• 3:02
  Speaker 5: being a business. So I'm like, no, I'd never to
• 3:04
  Speaker 5: make you take leave.
• 3:05
  Speaker 1: Don't worry.
• 3:05
  Speaker 5: If you want a bank leaf, bank you leaf. If
• 3:06
  Speaker 5: you want to take your leaf, take your leave. Like
• 3:08
  Speaker 5: I just feel like that's mean.
• 3:10
  Speaker 1: Yeah, that's fair, that's we love a flexible queen.
• 3:13
  Speaker 5: Ye just I hate like side note, I just hate
• 3:16
  Speaker 5: when companies like yep, so mandatory shut down period over
• 3:19
  Speaker 5: Christmas and then she's almost like two weeks of your
• 3:22
  Speaker 5: own bloody leave their Christmas shutdown period and then you've
• 3:26
  Speaker 5: only got two during the year to quote spend on
• 3:28
  Speaker 5: new Yeah, it just makes no sense to me.
• 3:31
  Speaker 3: No, I agree.
• 3:31
  Speaker 6: I don't like that at all, but I do like
• 3:33
  Speaker 6: running to leave that I forgot I had in my calendar.
• 3:36
  Speaker 3: So yeah, that's fair. I did that.
• 3:38
  Speaker 6: And then my friend held a whole festival for their birthday,
• 3:41
  Speaker 6: So I sorry, it's just your.
• 3:43
  Speaker 1: Friend held a festival.
• 3:45
  Speaker 3: For the whole lu festival.
• 3:46
  Speaker 6: There was like one hundred dollars prepared for two nights
• 3:49
  Speaker 6: camping and so oh my gorgeous, gorgeous, gorgeous annually randomly
• 3:53
  Speaker 6: had this festival, just.
• 3:54
  Speaker 5: Been having a great week enough friends to have a
• 3:58
  Speaker 5: festival iftial for my birthday, it would be me and
• 4:03
  Speaker 5: just camping, that's what they would call it.
• 4:06
  Speaker 3: They would just call it camping.
• 4:08
  Speaker 1: I'd rather do that in a hotel if i'm wannest.
• 4:11
  Speaker 1: Oh yeah too, me too.
• 4:12
  Speaker 5: Yeah, Like, let's not get into that because it makes
• 4:14
  Speaker 5: me seem incredibly out of touch.
• 4:15
  Speaker 1: But you're right, hahh No, I completely agree. But no,
• 4:19
  Speaker 1: so gorgeous week, what about you?
• 4:20
  Speaker 3: I love that.
• 4:21
  Speaker 1: Nothing interesting to report.
• 4:22
  Speaker 5: Our Investing master Class is open, so I have been
• 4:25
  Speaker 5: spending a lot of time in that, which is really
• 4:28
  Speaker 5: exciting because, as you guys know, I feel like it's
• 4:30
  Speaker 5: not a secret. The Investing master Class is my favorite
• 4:32
  Speaker 5: of all the master classes I run.
• 4:34
  Speaker 2: I don't know.
• 4:34
  Speaker 5: It's my hyperfixation topic, like it's the.
• 4:37
  Speaker 3: Love of my life.
• 4:38
  Speaker 5: So I have been focusing on that a lot. If
• 4:41
  Speaker 5: you dried to sneak in now, maybe you could. It's
• 4:44
  Speaker 5: like I was meant to close the doors and stop
• 4:46
  Speaker 5: people signing up, but I forgot to turn that off
• 4:48
  Speaker 5: on purpose. So I'll leave that open for a little
• 4:52
  Speaker 5: bit because I keep getting these dms of people saying like, oh,
• 4:54
  Speaker 5: I've missed out, and like I haven't gotten in, Like
• 4:57
  Speaker 5: maybe you could just catch up and watch the videos
• 5:00
  Speaker 5: I've already dropped and just catch up. But I can't
• 5:02
  Speaker 5: leave it open that much longer because otherwise it's just
• 5:05
  Speaker 5: not fair on everyone who got in early anyway. So
• 5:08
  Speaker 5: that's been happening and keeping me really busy. I'm a
• 5:10
  Speaker 5: bit sad about it feeling colder in the mornings, like
• 5:14
  Speaker 5: I feel like the coldness is starting to creep back,
• 5:17
  Speaker 5: and I can already feel my seasonal depression starting, I see.
• 5:21
  Speaker 3: Which I'm not adoring.
• 5:23
  Speaker 5: But I'm trying to work out how I manage better
• 5:26
  Speaker 5: this year than I did last year. So I'm working
• 5:29
  Speaker 5: on that and I'll share updates if I have any gorgeous.
• 5:31
  Speaker 5: Yes please, Yeah, so easy though, Yeah see I need
• 5:35
  Speaker 5: to I need to reframe it. And it's cozy as
• 5:37
  Speaker 5: opposed to cold and wet and miserable. So yeah, I'll
• 5:41
  Speaker 5: work on that. I just need some more Beck energy
• 5:43
  Speaker 5: in my life. Would you guys like to bring up
• 5:46
  Speaker 5: the mood again? A five star review?
• 5:48
  Speaker 1: Yes please?
• 5:49
  Speaker 3: I'm excited this once from Steph.
• 5:51
  Speaker 5: She says, I've been listening to She's on the Money
• 5:54
  Speaker 5: for years now and it has properly changed my life,
• 5:57
  Speaker 5: both in terms of my money mindset and in terms
• 5:59
  Speaker 5: of mogmenting actual items. I've gone from living paycheck to
• 6:03
  Speaker 5: paycheck when I started listening to having a very healthy superannuation.
• 6:07
  Speaker 5: I actually moved to Australia at thirty two and didn't
• 6:09
  Speaker 5: start contributing until thirty six. Very healthy investments and I
• 6:13
  Speaker 5: saved an entire twenty percent house deposit, all.
• 6:17
  Speaker 3: On my own.
• 6:17
  Speaker 1: Wow.
• 6:18
  Speaker 5: I cannot thank these girls enough for how much they
• 6:20
  Speaker 5: inspire women to take charge and better their financial situations.
• 6:24
  Speaker 5: Also low key hoping Beck is regularly investing after all
• 6:28
  Speaker 5: this time.
• 6:28
  Speaker 3: Hah ha.
• 6:31
  Speaker 1: Well, thank you for your concern and I am not yet.
• 6:35
  Speaker 1: Do you have your roundups on though I had to
• 6:37
  Speaker 1: turn them off.
• 6:38
  Speaker 6: Yeah, that's unfortunately, but I'm going to put them back
• 6:40
  Speaker 6: on next piece cycle.
• 6:43
  Speaker 5: Check and actually, how are you going? Are you buying coffees?
• 6:46
  Speaker 5: Are you not buying coffees? I'm still not buying coffees.
• 6:49
  Speaker 5: I was thinking the other day, Beck, when I saw
• 6:52
  Speaker 5: you with a paper cuff in hand, I thought I'd
• 6:54
  Speaker 5: caught you, and I.
• 6:55
  Speaker 1: Said, Beck, is that a coffee that you bought? And
• 6:58
  Speaker 1: you were like, no, someone bought it for me.
• 6:59
  Speaker 3: And I was like, this, sneaky little lady. I have.
• 7:02
  Speaker 3: I certainly have.
• 7:04
  Speaker 1: Oh I forgot my wallet, or I don't have any
• 7:07
  Speaker 1: money for a coffee. Oh, I'm running lant.
• 7:09
  Speaker 5: You just work in our team, and our team I
• 7:11
  Speaker 5: always like, do you want me to get your coffee back?
• 7:12
  Speaker 1: Because you're not me to be buying coffee.
• 7:15
  Speaker 6: But you know, I've I've kind of gotten really used
• 7:17
  Speaker 6: to the flavor of a French press and I prefer
• 7:20
  Speaker 6: it it sounds boogier, it does seven bucks and came
• 7:25
  Speaker 6: out and pressing this thing down boom.
• 7:28
  Speaker 5: Don't tell them that's career, that's true, that's true. Secret
• 7:32
  Speaker 5: so they can do it as well. But like such
• 7:34
  Speaker 5: money Whinger's seven Bucks from came out. That's literally a
• 7:37
  Speaker 5: late in Glenaris, like be real genuinely.
• 7:40
  Speaker 6: Yeah, exactly, yeah when you put it like that, Yeah,
• 7:44
  Speaker 6: but no I am. I am investing in Cheersias, but
• 7:46
  Speaker 6: I probably do it like once every few weeks rather
• 7:49
  Speaker 6: than weekly or how much how often I'd like to
• 7:52
  Speaker 6: be doing it.
• 7:52
  Speaker 5: And that is fine, Like that's the beauty of investing, right,
• 7:55
  Speaker 5: you can turn it on and off and work out
• 7:57
  Speaker 5: what works for you. Yes, in a perfect world you're
• 7:59
  Speaker 5: investing consistently and regularly over time. But like that doesn't
• 8:03
  Speaker 5: work for everybody. I need to just like segue off
• 8:07
  Speaker 5: this for a hot second and like talk more about investing.
• 8:10
  Speaker 3: Was that hard to do?
• 8:11
  Speaker 5: Like are you just are you finding it easy to
• 8:13
  Speaker 5: turn on and off your investments or that? Because I
• 8:15
  Speaker 5: think a lot of people go, oh, I don't want
• 8:17
  Speaker 5: to commit to it because then I'll have to keep
• 8:19
  Speaker 5: doing it and it'll be hard to turn off.
• 8:21
  Speaker 1: No, not all.
• 8:22
  Speaker 3: It was so easy.
• 8:23
  Speaker 6: Plus I don't think I even had roundups on for
• 8:26
  Speaker 6: that long. I feel like I just went in because
• 8:27
  Speaker 6: it would be like literally a button. It's like changing
• 8:30
  Speaker 6: the settings in your phone.
• 8:31
  Speaker 1: Right, Yeah, and it's very it was very fun.
• 8:34
  Speaker 6: Like I think, I I don't even remember when I started.
• 8:37
  Speaker 6: It would have been maybe a year ago, but somehow
• 8:39
  Speaker 6: I have like I have like.
• 8:41
  Speaker 3: Five hundred bucks in there.
• 8:42
  Speaker 6: You don't actually, yeah, and I don't even have that
• 8:44
  Speaker 6: much in savings.
• 8:45
  Speaker 1: But there's something about like you got five hundred dollars invested, yeah.
• 8:49
  Speaker 6: Because I like, if that was in my savings acount,
• 8:52
  Speaker 6: I would have so much access to it that would
• 8:53
  Speaker 6: not exist. But there's something about like having to withdraw it,
• 8:56
  Speaker 6: and I was like I can't.
• 9:00
  Speaker 5: Stor it gets the more you're like, oh I really
• 9:02
  Speaker 5: can't touch that now. Yeah. Yeah, maybe when it was
• 9:05
  Speaker 5: like fifty bucks, you'd be like, oh, it wouldn't matter. Yeah,
• 9:08
  Speaker 5: Like it's five hundred dollars. I can't take five hundred dollars.
• 9:10
  Speaker 6: Exactly, and you've got to sell it from all the
• 9:12
  Speaker 6: different little things you've got.
• 9:13
  Speaker 3: It's just too much effort.
• 9:15
  Speaker 6: So the best way for me to say, which I
• 9:18
  Speaker 6: know is not ideal, that's harden emergency fund you do,
• 9:21
  Speaker 6: but it's just it just works very well.
• 9:23
  Speaker 1: So proud of you. Imagine like a year ago when
• 9:26
  Speaker 1: before you'd started, and you're like, oh, I remember we
• 9:29
  Speaker 1: spoke about it. I think in a reel or something.
• 9:32
  Speaker 1: You're like, Oh, I would really like I want to
• 9:34
  Speaker 1: it something I want to do, but I just haven't
• 9:35
  Speaker 1: done it yet.
• 9:36
  Speaker 2: Yeah.
• 9:36
  Speaker 1: And even if you are turning out on and off,
• 9:37
  Speaker 1: like the fact that you've started and you've left it
• 9:39
  Speaker 1: in there is such a big step.
• 9:41
  Speaker 3: Yeah, thank you so much, queen, Thank you guys.
• 9:44
  Speaker 1: I love that for you.
• 9:47
  Speaker 5: Speaking of love, let's move back on to what we're
• 9:50
  Speaker 5: meant to be talking about on the show, and that
• 9:52
  Speaker 5: is our community. Jess Gricchi, what are the money wins
• 9:55
  Speaker 5: and confessions that you're bringing to the table this week?
• 9:57
  Speaker 1: Oh right, first of this week, I have one from
• 9:59
  Speaker 1: Risha Well he said money win. I was in Woolworths
• 10:02
  Speaker 1: yesterday and they had Nappis on sale for half price,
• 10:04
  Speaker 1: so I grabbed a bag. At the checkout, it scanned
• 10:06
  Speaker 1: full price and I kindly mentioned it to the checkout lady.
• 10:09
  Speaker 1: We had a bit of back and forth. She looked
• 10:11
  Speaker 1: into it, and then I got told that because the
• 10:13
  Speaker 1: pricing was incorrect, I now got it for free money.
• 10:17
  Speaker 1: Apparently the same rule applies that Cole's Woolies and Aldi.
• 10:22
  Speaker 1: Rachelle said she would have been happy to just get
• 10:24
  Speaker 1: them at half priced. Just get them at free is
• 10:26
  Speaker 1: a huge win. And then somebody commented who worked at
• 10:31
  Speaker 1: one of the supermarkets instead. Apparently at the supermarket she
• 10:34
  Speaker 1: works at, you have to specifically mention the free rule,
• 10:38
  Speaker 1: So if this happens to you, it might be worth
• 10:39
  Speaker 1: just mentioning to whoever's checking out, Oh does this mean
• 10:41
  Speaker 1: I get it for free? Someone also linked a policy
• 10:45
  Speaker 1: information so how to look into it?
• 10:47
  Speaker 5: But I was talking to somebody else and this reminds
• 10:50
  Speaker 5: me of that. But like when you said you have
• 10:53
  Speaker 5: to mention it for it to be honored, I was like,
• 10:55
  Speaker 5: that's sneaky. But phone plans, so like when you call
• 10:59
  Speaker 5: up and you're asking your phone company for a better deal,
• 11:02
  Speaker 5: more often than not, they can't give you a better deal,
• 11:04
  Speaker 5: even if a different company has a lower one, unless
• 11:07
  Speaker 5: you specifically name drop and go, well, this other company
• 11:10
  Speaker 5: has it for five dollars less per month. At that
• 11:13
  Speaker 5: point they can go, okay, well we'll match it, but
• 11:15
  Speaker 5: they can't match it or drop it unless you like
• 11:18
  Speaker 5: yeah right, yeah, so good one to your mind, especially
• 11:21
  Speaker 5: a high tier item.
• 11:22
  Speaker 1: Nappies are expensive, so job they are?
• 11:25
  Speaker 3: Do you know what I won't say it's.
• 11:26
  Speaker 5: A hidden cost, because like you are changing a lot
• 11:30
  Speaker 5: of nappies, but like I was shocked at how expensive
• 11:33
  Speaker 5: they are consistently like that you have to end up
• 11:36
  Speaker 5: nappies formula. All of those things add up, like it's
• 11:40
  Speaker 5: just and I'm not complaining at all part of the budget, but.
• 11:44
  Speaker 3: It's just a lot, especially right now.
• 11:47
  Speaker 1: Yeah, so a free one, we love that.
• 11:49
  Speaker 3: Yeah seriously.
• 11:49
  Speaker 1: Next, I've got money in from Rebecca who said my
• 11:51
  Speaker 1: children's daycare were updating their outside tweet and therefore rehoming
• 11:55
  Speaker 1: the old ones to daycare families. They scored a cozy
• 11:59
  Speaker 1: Cube under.
• 11:59
  Speaker 3: Trick for free. The kids are obsessed.
• 12:01
  Speaker 1: Now they don't fight over who gets to go in
• 12:03
  Speaker 1: the car first because they've got one each.
• 12:05
  Speaker 3: Yeah that was is so cute.
• 12:07
  Speaker 5: I really cozy Coop Harvey is obsessed with his. And
• 12:11
  Speaker 5: if you don't get one for free from your daycare,
• 12:13
  Speaker 5: you can pick them up on Facebook market place for
• 12:15
  Speaker 5: like twenty bucks, or if you like me, you can
• 12:17
  Speaker 5: pick them up on Facebook Marketplace for twenty bucks and
• 12:19
  Speaker 5: then spend like one hundred dollars on paint to make
• 12:21
  Speaker 5: it look like a golf cart. I definitely don't need
• 12:24
  Speaker 5: to do that second step optional. Next, I've got a
• 12:26
  Speaker 5: money in from Zoe. He said, her and her friend's
• 12:28
  Speaker 5: doing a big group trip overseas. She was the first
• 12:31
  Speaker 5: to book her travel insurance. At the end of the process,
• 12:33
  Speaker 5: she was given a fifteen percent off discount code to
• 12:36
  Speaker 5: share with friends, and then every time someone uses this
• 12:39
  Speaker 5: account code, she would get a twenty dollars gift card
• 12:41
  Speaker 5: of her choice. So now all her friends excuse me,
• 12:43
  Speaker 5: get fifteen percent off and she gets all their twenty
• 12:45
  Speaker 5: dollars gift card. Oh my god, you've gained it.
• 12:49
  Speaker 3: Yeah, really is.
• 12:51
  Speaker 1: And then lastly, this week, I've got a money win
• 12:53
  Speaker 1: from Keianni, who said she dropped her car off to
• 12:55
  Speaker 1: be repaired in an embarrassingly messy state. That is always
• 12:58
  Speaker 1: me too, and when god, she said, it was a
• 13:00
  Speaker 1: lovely surprise when she picked it up because it had
• 13:02
  Speaker 1: been freshly detailed.
• 13:06
  Speaker 5: Face that is, it also makes me low key feel embarrassed,
• 13:11
  Speaker 5: like I'm dropping this car for a service and then
• 13:13
  Speaker 5: it comes back vacuumed and I'm like, that's so nice,
• 13:16
  Speaker 5: But it's because it needed vacuuming and probably noticed they
• 13:19
  Speaker 5: couldn't avoid.
• 13:20
  Speaker 1: Yeah, sorry about the empty wrappers. The popcorn, the crumbs,
• 13:23
  Speaker 1: whatever else you found down there.
• 13:26
  Speaker 5: Oh my goodness, well that was a very good rap
• 13:28
  Speaker 5: of the wag Jess Beck, what are your three broke tips?
• 13:32
  Speaker 1: So this first one kind of ties into the nappy thing.
• 13:35
  Speaker 3: Oh perfect step.
• 13:37
  Speaker 6: Kind of not really, but anyway, I have one from Madra,
• 13:40
  Speaker 6: who I'm so sorry if I'm saying that wrong, who
• 13:42
  Speaker 6: says by period pants they're the best things. So you
• 13:45
  Speaker 6: don't you have to spend money on tampons pads anymore.
• 13:49
  Speaker 6: I feel like if you even, like, you know, moon
• 13:51
  Speaker 6: cups and stuff like that.
• 13:52
  Speaker 5: I was about to add to that, I have the
• 13:55
  Speaker 5: period cup from Moxie.
• 13:57
  Speaker 3: I'm obsessed.
• 13:58
  Speaker 5: Yeah, and it's so love it, like it is the
• 14:01
  Speaker 5: love of my life. Like and I am not saying
• 14:04
  Speaker 5: that lightly because I know that a period cup isn't
• 14:06
  Speaker 5: for everybody, but for me that works so well, Like
• 14:11
  Speaker 5: and I.
• 14:11
  Speaker 3: Love that it's zero waste. Yeah, really good, perfectly exactly exactly. Yeah,
• 14:17
  Speaker 3: and it's so much easier than you think it is.
• 14:18
  Speaker 5: Like I think a lot of the time people go, oh,
• 14:20
  Speaker 5: that would be really uncomfortable, Like it's not I would
• 14:25
  Speaker 5: make a video on it. But the entire Moxie like,
• 14:27
  Speaker 5: I don't know if you guys have seen the Moxy TikTok.
• 14:30
  Speaker 1: They have like more.
• 14:31
  Speaker 5: Than a million followers because they do these great educational
• 14:34
  Speaker 5: videos on periods and they're like it's white. Have you
• 14:37
  Speaker 5: seen like how the period cups fold so like they're silicon,
• 14:41
  Speaker 5: and like there's like so many different folds you can do,
• 14:45
  Speaker 5: and like, yeah, you probably do have to get a
• 14:47
  Speaker 5: little bit comfortable with like your own body to do this.
• 14:50
  Speaker 5: But like, once I worked out the fold that worked
• 14:52
  Speaker 5: for me, we are golden. We are good to go
• 14:55
  Speaker 5: and it is perfect.
• 14:57
  Speaker 1: Yeah, and it's just a one soft purchase.
• 14:59
  Speaker 5: Yeah, wait until the period cup is on sale because
• 15:02
  Speaker 5: I believe it's about thirty ish dollars and at Chemists Warehouse.
• 15:06
  Speaker 5: This is not an ad from Oxy at all, but
• 15:08
  Speaker 5: like this is I've tried a lot of them, and
• 15:09
  Speaker 5: I like the silicon on this one best because it's
• 15:11
  Speaker 5: like the softest, Like it just it squishes more. I
• 15:15
  Speaker 5: don't know how to explain it better than that it
• 15:17
  Speaker 5: squishes more and it has this again weird. But you guys,
• 15:20
  Speaker 5: I'm pretty sure ninety nine percent of our listeners of females,
• 15:23
  Speaker 5: So you're going to appreciate this. It has this ribbing
• 15:25
  Speaker 5: at the bottom of the cup, so when you're grabbing
• 15:27
  Speaker 5: it to pull out, it like has a grip.
• 15:30
  Speaker 3: Yeah, we love a grip.
• 15:32
  Speaker 5: It just makes sense. So all of that works. But
• 15:35
  Speaker 5: they often go on sale at Chemist ware House.
• 15:38
  Speaker 1: Great to know to see that they sell period undies
• 15:42
  Speaker 1: at the Chemists now too, you can only get them online.
• 15:46
  Speaker 1: It might have actually been Chemists ware House. I'm not
• 15:48
  Speaker 1: one hundred percent sure on that, but.
• 15:49
  Speaker 5: I definitely saying them at Chemist whare House. Yeah, and
• 15:51
  Speaker 5: I saw period undies in the store and I.
• 15:52
  Speaker 1: Was like, oh, that's so cool.
• 15:54
  Speaker 6: I'm pretty sure I've seen them in the middle aisle
• 15:56
  Speaker 6: the specializes all Oh, of course.
• 16:00
  Speaker 7: I love it.
• 16:00
  Speaker 2: I love it.
• 16:01
  Speaker 5: And if you're someone who I just feel like giving
• 16:04
  Speaker 5: it a crack is a good idea because I think
• 16:06
  Speaker 5: so many times will go oh no, yes, maybe, And
• 16:09
  Speaker 5: like I've had this discussion with girlfriends who are like,
• 16:11
  Speaker 5: ill a period cup and I'm like, it is the
• 16:15
  Speaker 5: love of my life, Like this, I won't go into
• 16:18
  Speaker 5: it too much, but like I bleed through tampons, like
• 16:21
  Speaker 5: it's just not a fun time and this just she's tidy,
• 16:25
  Speaker 5: she's nice. You can change it in the shower. It's
• 16:28
  Speaker 5: a good experience.
• 16:29
  Speaker 3: Absolutely.
• 16:30
  Speaker 1: I love your Body Body undies. If anyone wants recommendation Bodybody,
• 16:33
  Speaker 1: Muddy Body, I think, yeah, the body Body ones are
• 16:35
  Speaker 1: the way really I have as well? Is that the
• 16:37
  Speaker 1: one with an eye at the Yeah, I'm od I
• 16:40
  Speaker 1: think I've seen that.
• 16:41
  Speaker 3: Yeah, okay, I've tried, but they're good.
• 16:43
  Speaker 1: Good to know, thank you.
• 16:45
  Speaker 5: I've tried a couple of other brands because I've been
• 16:47
  Speaker 5: very grateful to have been sent them before, but you
• 16:50
  Speaker 5: wouldn't have seen me post about them because like the
• 16:52
  Speaker 5: Body Body ones very comfortable are the ones that I
• 16:55
  Speaker 5: have historically been sent to try kind of feel a
• 16:58
  Speaker 5: little like they have a plastic.
• 16:59
  Speaker 3: Lining in them.
• 17:00
  Speaker 1: They just like cool.
• 17:02
  Speaker 5: I've noticed that and that's not very fun. So like
• 17:05
  Speaker 5: the mudibody ones don't have that. I feel like there
• 17:07
  Speaker 5: are one hundred percent cotton and very comfortable.
• 17:09
  Speaker 1: Like they don't give that weird heavy one because they do,
• 17:13
  Speaker 1: which I also we've fully gone off on period, but
• 17:16
  Speaker 1: they do different flow like there's a lot of medium
• 17:19
  Speaker 1: heavy or something, and even the heavy duty one.
• 17:21
  Speaker 3: It doesn't feel like that.
• 17:22
  Speaker 1: Yeah, what I would do at night, I was like
• 17:24
  Speaker 1: it feels thicker, but it's still comfortable and it's not
• 17:27
  Speaker 1: crinkly like you were saying, yeah, which I think is good.
• 17:30
  Speaker 3: Check it out.
• 17:31
  Speaker 5: I love it.
• 17:31
  Speaker 1: Great to know how good body body.
• 17:33
  Speaker 6: And this next one comes from Meal who says, if
• 17:36
  Speaker 6: you have a chronic condition, you're likely eligible for an
• 17:38
  Speaker 6: enhanced primary care plan. They're amazing, five government funded visits
• 17:44
  Speaker 6: with an allied health professional, example, exercise.
• 17:46
  Speaker 3: Very cool things like that.
• 17:48
  Speaker 6: So that's great to know if you are currently suffering
• 17:52
  Speaker 6: from or struggling with chronic health condition, definitely check that out.
• 17:56
  Speaker 3: Yeah, very cool. And then this last one obviously is
• 17:58
  Speaker 3: from myself a my friend.
• 18:02
  Speaker 6: So a cheaper alternative for your soda streams of the world,
• 18:07
  Speaker 6: Billy Bubbles, soda gas refills at your doorstep. I recommend
• 18:12
  Speaker 6: just having a little Google because soda stream. I love
• 18:15
  Speaker 6: a soda stream, but I don't think I'm spending I
• 18:20
  Speaker 6: know it's really bad for the environment, but I think
• 18:23
  Speaker 6: I'm not drinking enough soda water or soda drinks to kind.
• 18:27
  Speaker 3: Of like justify that.
• 18:29
  Speaker 1: I am.
• 18:29
  Speaker 5: I absolutely am bubbly water every day. We've callt spicy
• 18:33
  Speaker 5: water in our house, and like I swear it's the
• 18:36
  Speaker 5: primary type of water I drink.
• 18:38
  Speaker 3: Yeah, it's my favorite. I love sparkling water.
• 18:41
  Speaker 6: But I just don't know if I'm yeah drinking enough
• 18:44
  Speaker 6: to warrant that. But I think if you are, or
• 18:47
  Speaker 6: if you have a soda stream, you're just very environmentally
• 18:49
  Speaker 6: conscious and you can afford it.
• 18:51
  Speaker 3: Yeah, do check out this other one.
• 18:52
  Speaker 5: It is, yeah, because they do the refills that fit
• 18:54
  Speaker 5: in the soda stream and they're just cheaper and they
• 18:57
  Speaker 5: drop it to your door and that's a win easy.
• 18:59
  Speaker 3: I know that because I Billy Bubbles dot Com.
• 19:02
  Speaker 5: Well, good work there, go all right, Well, let's go
• 19:04
  Speaker 5: to a really quick break on the flip side. You
• 19:06
  Speaker 5: and I are going to have a deep discussion about
• 19:08
  Speaker 5: negotiating a better hourly wage rate. And you guys slid
• 19:12
  Speaker 5: into our DMS this week about should you move away
• 19:16
  Speaker 5: from your family and friends so that you can buy
• 19:18
  Speaker 5: a whole house outright and live completely debt free? Which
• 19:23
  Speaker 5: I need a lot of context here, so guys don't
• 19:25
  Speaker 5: go anywhere.
• 19:30
  Speaker 1: Welcome back, everybody. Let's take a listen to this week's
• 19:33
  Speaker 1: money dilemma.
• 19:36
  Speaker 5: Hi, there, have you got a money dilemma you just
• 19:38
  Speaker 5: can't solve the She's on the money team is here
• 19:41
  Speaker 5: to help. Every week, we tackle your dilemmas, both big
• 19:44
  Speaker 5: and small, to answer your most burning money, career and
• 19:47
  Speaker 5: life questions. To get involved, simply head to our website
• 19:50
  Speaker 5: and leave us a short voice recording and you might
• 19:52
  Speaker 5: just find yourself on the show.
• 19:54
  Speaker 1: Now, let's take a listen to this week's money dilemma.
• 20:00
  Speaker 7: She's on the money. I would love to ask a
• 20:03
  Speaker 7: question about negotiating a new hourly rate. So I'm an
• 20:07
  Speaker 7: earth mover, been an earth mover for four years. I
• 20:11
  Speaker 7: love it, I love the money, I love everything about it.
• 20:14
  Speaker 7: But I'm listed as a laborer at the moment, which
• 20:17
  Speaker 7: is a CW three, and I've just been gifted my
• 20:21
  Speaker 7: very own machine, which is a CW five. There's a
• 20:24
  Speaker 7: massive difference in the hourly wages there which I would
• 20:28
  Speaker 7: love to be able to ask my boss if I
• 20:30
  Speaker 7: can negotiate something in the middle. A CW three and
• 20:35
  Speaker 7: a CW five has got roughly twenty to twenty five dollars.
• 20:40
  Speaker 3: Different an hour. That's a lot of money I'm losing
• 20:45
  Speaker 3: each week and each year.
• 20:48
  Speaker 7: Is there any little way that you've got that I
• 20:51
  Speaker 7: can maybe ask my boss in regards with negotiating a
• 20:54
  Speaker 7: new hourly rate. Thanks love you guys.
• 21:01
  Speaker 5: Oh my goodness, Oh my goodness, do you I'm not
• 21:04
  Speaker 5: evening to jump in here barecas shoes?
• 21:06
  Speaker 6: She do.
• 21:08
  Speaker 1: Actually, this is great.
• 21:09
  Speaker 6: This is a great timing because I literally just asked
• 21:12
  Speaker 6: my boss yesterday. I didn't ask for the exact same thing.
• 21:16
  Speaker 6: I just said, how do I go about doing this?
• 21:18
  Speaker 6: And then she said, if you come prepared, And I
• 21:22
  Speaker 6: feel like Victoria, you would.
• 21:23
  Speaker 3: Say this is a similar thing. It wasn't me.
• 21:25
  Speaker 5: I'm not the boss, she asked, No.
• 21:27
  Speaker 6: Different, boss, come prepared with your I don't really I
• 21:31
  Speaker 6: don't really like this. I feel like the cost of
• 21:33
  Speaker 6: living right now is so expensive it should just kind
• 21:35
  Speaker 6: of be by default. But you come prepared with your performance,
• 21:39
  Speaker 6: you know, like why you are deserving and all this
• 21:42
  Speaker 6: kind of thing. Why am I deserving to be able
• 21:44
  Speaker 6: to afford bond? Soy over the home brand Soy milk ridiculous.
• 21:49
  Speaker 6: I don't like it anyway.
• 21:50
  Speaker 3: I'm literally getting my head is getting tired right now.
• 21:53
  Speaker 3: I'm very angry. So I don't think that that anyone
• 21:55
  Speaker 3: needs to do that.
• 21:55
  Speaker 1: But if that's what you gotta do, if you're going
• 21:57
  Speaker 1: to play the game to try.
• 21:58
  Speaker 6: And like get by and leave it a little bit
• 22:00
  Speaker 6: more of a comfortable life. Yeah, I think I would
• 22:02
  Speaker 6: just kind of do that. I don't really know if
• 22:04
  Speaker 6: that's I've never really done this, I'm not really. I
• 22:08
  Speaker 6: would always say, obviously, come prepared. It annoys me that
• 22:11
  Speaker 6: your boss is like, well, come prepared with your performance.
• 22:13
  Speaker 1: She can't.
• 22:15
  Speaker 5: My manager didn't do.
• 22:16
  Speaker 3: You know, my performance?
• 22:18
  Speaker 5: I don't see, like I know, I don't know. I
• 22:21
  Speaker 5: just have a lot of thoughts and feelings about things
• 22:23
  Speaker 5: like that, which we will leave for another time. We've
• 22:27
  Speaker 5: done whole episodes on negotiating your salary, which, honestly, Beck
• 22:30
  Speaker 5: you should go and listen to. Some of them were
• 22:32
  Speaker 5: pre you being on the show, and that could actually
• 22:35
  Speaker 5: benefit you. I know Jess is probably going to have
• 22:39
  Speaker 5: an answer similar to mine, because I mean we've worked
• 22:42
  Speaker 5: together for like five years now, which is insane.
• 22:45
  Speaker 3: Just what would you do?
• 22:46
  Speaker 1: So it sounds like within your role, there's obviously clear
• 22:51
  Speaker 1: guidelines as to what categorizes you into the different things
• 22:54
  Speaker 1: like obviously you've said that you've been given your own machine,
• 22:56
  Speaker 1: which is really exciting, so that puts you in the
• 22:59
  Speaker 1: high category.
• 23:00
  Speaker 2: W five.
• 23:01
  Speaker 1: I would just cross check that you're ticking all of
• 23:03
  Speaker 1: the other markers for a W five because typically when
• 23:06
  Speaker 1: you have salary bands like this, it's outlined.
• 23:10
  Speaker 5: Yeah, there's like what's the word award that's it, or
• 23:13
  Speaker 5: like ban Yeah, there might be a job description or something.
• 23:17
  Speaker 5: Maybe you know somebody at that higher job description that
• 23:19
  Speaker 5: could provide you with their job description, so you could
• 23:22
  Speaker 5: like cross check, yeah, there's a go to your manager.
• 23:25
  Speaker 1: There's a really good guide to awards on the Fairwork website.
• 23:28
  Speaker 1: There's actually a huge document that outlines every award that exists.
• 23:33
  Speaker 1: So you can go to their and you can search
• 23:36
  Speaker 1: by award or you can search by job. It's like
• 23:38
  Speaker 1: there's a lot of different ways you can filter it
• 23:39
  Speaker 1: and you can go through and you can find specifically
• 23:41
  Speaker 1: what the W five is. Cross check that you're taking
• 23:43
  Speaker 1: all the markers. If you're ticking all the markers, I
• 23:46
  Speaker 1: would say, don't negotiate.
• 23:47
  Speaker 5: Oh we're not negotiating W five babe, Like go for them.
• 23:50
  Speaker 5: We're not just going for it, We're just letting our
• 23:52
  Speaker 5: boss know. I think there's been an issue and I'm
• 23:56
  Speaker 5: meant to be on W five. I actually I feel
• 23:59
  Speaker 5: bad about it. I checked absolutely everything and I am
• 24:03
  Speaker 5: so could you just fix that up and see how
• 24:05
  Speaker 5: that conversation goes, because that's a different conversation than negotiating
• 24:08
  Speaker 5: to be.
• 24:09
  Speaker 3: On a rate that you should already have been.
• 24:10
  Speaker 6: On and then get that's a great idea because now
• 24:14
  Speaker 6: they're in the position where they have to then tell
• 24:16
  Speaker 6: you you're not and then explain.
• 24:18
  Speaker 3: Why you're not deserving of that or why you do not.
• 24:21
  Speaker 5: So am I not doing the capabilities that I already
• 24:24
  Speaker 5: cross checked and confirmed that I do.
• 24:26
  Speaker 3: That's great.
• 24:27
  Speaker 5: Did you want me to not do those things here
• 24:29
  Speaker 5: in this business?
• 24:30
  Speaker 3: Actually take some things off my plate in that case?
• 24:32
  Speaker 7: Yeah?
• 24:32
  Speaker 1: Weird. It does change the dynamic.
• 24:35
  Speaker 5: And I think as women, we automatically go, I really
• 24:37
  Speaker 5: should talk to them about this, or you know, in
• 24:40
  Speaker 5: the nicest possible way, I should negotiate it. Hold on,
• 24:42
  Speaker 5: there are some things that aren't about negotiating, which we
• 24:45
  Speaker 5: should have as a good skill. There are some things
• 24:48
  Speaker 5: that we actually need to just back ourselves and be like, hey,
• 24:50
  Speaker 5: business like this is actually incorrect and you need to
• 24:53
  Speaker 5: fix it, and then let them squirm.
• 24:56
  Speaker 1: Yeah yeah, but I, as you said, come prepare, do
• 24:59
  Speaker 1: all you do, diligent, make sure you are to hear
• 25:00
  Speaker 1: those boxes. If you're not to hear all the boxes
• 25:02
  Speaker 1: with W five. Then maybe you can name for somewhere
• 25:04
  Speaker 1: in the middle, or do exactly as Beck did and say, hey,
• 25:06
  Speaker 1: what do I need to do to get there? Yes,
• 25:09
  Speaker 1: but yeah, just approaching them.
• 25:10
  Speaker 5: Also, you and I we can sit down later, Beck
• 25:12
  Speaker 5: and we can work out what you can say to
• 25:14
  Speaker 5: your other boss about getting that pay rice.
• 25:16
  Speaker 3: Thank you.
• 25:17
  Speaker 5: I will literally be like, okay, cool, So this is
• 25:19
  Speaker 5: what you're going to take. The first thing I'm going
• 25:21
  Speaker 5: to tell you to go and find is the Hayes
• 25:24
  Speaker 5: Salary Guide. So that's downloadable online for free, massive pdf.
• 25:28
  Speaker 5: You're going to have to control F to find your job, sure,
• 25:31
  Speaker 5: but my favorite thing about that guide is it's I
• 25:34
  Speaker 5: think it is the biggest recruitment guide in Australia. And
• 25:37
  Speaker 5: when I say biggest, I mean it has the biggest
• 25:39
  Speaker 5: sample size, so the most amount of like people in
• 25:42
  Speaker 5: its thousands. But you can control F your job, and
• 25:46
  Speaker 5: then once you find your job, you can then look
• 25:48
  Speaker 5: at it based on the different states and territories and
• 25:52
  Speaker 5: then the years of experience and what your salary should
• 25:55
  Speaker 5: look like. Hy s Hayes oh hellary Guide, and yeah,
• 26:02
  Speaker 5: go from there. That's something that I've been recommending four
• 26:04
  Speaker 5: years and it's something that I use. You know, if
• 26:07
  Speaker 5: I'm looking at pulling a new role into the business,
• 26:10
  Speaker 5: I'm looking everywhere. I'm looking on seek, I'm looking on LinkedIn,
• 26:13
  Speaker 5: I'm checking other job descriptions, making sure that you know one.
• 26:17
  Speaker 5: I'm capturing everything I need to. But is the salary reflective?
• 26:21
  Speaker 5: And then I go to the Hayes Salary Guide and
• 26:22
  Speaker 5: work out what would be reasonable and what is like not.
• 26:26
  Speaker 5: And even if someone comes to me and says like, oh,
• 26:30
  Speaker 5: I would want salary X, but my salary is higher,
• 26:33
  Speaker 5: I'll be like, well, your salary is actually worth more. Sorry,
• 26:36
  Speaker 5: Like I'm not going to pay you less just because
• 26:37
  Speaker 5: you suggested less. Like I'd be so embarrassed. So yeah,
• 26:41
  Speaker 5: that for me is like I won't say the Golden ticket,
• 26:44
  Speaker 5: but a really cool tool. And if you want to,
• 26:48
  Speaker 5: you could say to your manager and like this is
• 26:51
  Speaker 5: just side advice. We could write a really nice email
• 26:55
  Speaker 5: that outlines everything and says, hey, YEP, I took your advice.
• 26:58
  Speaker 5: I've gone and done my research. I've gotten all of
• 27:00
  Speaker 5: my stuff together. I wanted to provide you all this
• 27:03
  Speaker 5: information before our meeting. Here's all the information on my performance.
• 27:07
  Speaker 5: Here's how I have excelled, because sometimes these conversations are
• 27:10
  Speaker 5: really hard to have in person, like because you might
• 27:12
  Speaker 5: fumble it or be really anxious. Right, So we're going
• 27:15
  Speaker 5: to do this nice email. Also, I've checked the Hay salary.
• 27:19
  Speaker 5: Glad I've attached it for your convenience, and my salary
• 27:24
  Speaker 5: could be or should be about here. Let's have a
• 27:27
  Speaker 5: meeting next week to discuss all of this. So they're
• 27:29
  Speaker 5: getting all of the information that they need and know
• 27:33
  Speaker 5: what you're asking for to begin with. And it's literally
• 27:36
  Speaker 5: what we're saying before about this C five thing. We're
• 27:40
  Speaker 5: putting the control back in your hands because they're going
• 27:43
  Speaker 5: to have to come back and be like, no, you
• 27:44
  Speaker 5: don't do these things. But what you think it was
• 27:46
  Speaker 5: a five minute email? No, that was a very well
• 27:48
  Speaker 5: where researched email. To make sure that I'm not sending
• 27:51
  Speaker 5: you a hopeful I'm being like, hey, cool, you told
• 27:54
  Speaker 5: me to look at my performance. I actually did, and
• 27:55
  Speaker 5: I'm above and beyond.
• 27:57
  Speaker 1: Yeah.
• 27:57
  Speaker 5: Yeah, they have to come back and say, oh, no
• 28:00
  Speaker 5: we can't and what not. But it puts you in
• 28:02
  Speaker 5: a much stronger position.
• 28:03
  Speaker 6: Gorgeous advice say less baby, Yeah, I love that, thank you.
• 28:08
  Speaker 3: That is okay?
• 28:09
  Speaker 5: Moving on juicy DM, and I say juicy because I'm
• 28:12
  Speaker 5: just like, how can you afford.
• 28:13
  Speaker 3: A house outright? So would you like to hear it?
• 28:15
  Speaker 1: Yes? Yes, Hey, she's on the money.
• 28:17
  Speaker 5: We are currently renting out our property to live closer
• 28:20
  Speaker 5: to my work while the kids are young.
• 28:22
  Speaker 3: Fifoux Worker.
• 28:24
  Speaker 5: It was never our dream home, but it's a good
• 28:26
  Speaker 5: house with nice memories. Now prices have boomed and there's
• 28:30
  Speaker 5: a lot of equity sitting in it. If we sold today,
• 28:33
  Speaker 5: we'd walk away with six hundred grand cash after expenses.
• 28:38
  Speaker 5: The thing is, do we sell them buy something else
• 28:40
  Speaker 5: in that budget? To be debt free To buy the
• 28:43
  Speaker 5: property we actually want, we'd need to move into state,
• 28:46
  Speaker 5: away from family and friends, as that's where homes in
• 28:48
  Speaker 5: our price range are. But being debt free could mean
• 28:51
  Speaker 5: quitting FIVEFO and being around the kids more while living
• 28:54
  Speaker 5: in a dreamy location. All the investment strategies say to
• 28:58
  Speaker 5: use the equity to buy something else renting it out,
• 29:00
  Speaker 5: but it's not a good rental. It costs more than
• 29:03
  Speaker 5: it makes, and then we just have more debt. What
• 29:06
  Speaker 5: would you guys do?
• 29:08
  Speaker 6: I wouldn't ever prioritize It really is a struggle because
• 29:14
  Speaker 6: both what I was about to say was like I
• 29:16
  Speaker 6: wouldn't prioritize something over a lifestyle or like, But then
• 29:19
  Speaker 6: I guess either scenario is lifestyle. It's like spend time
• 29:22
  Speaker 6: with your family and don't have to work as much
• 29:26
  Speaker 6: and move away from your friends and all.
• 29:29
  Speaker 3: That kind of stuff. But I'm just sure there's a
• 29:31
  Speaker 3: middle ground. Like say, for example, we're here in Melbourne.
• 29:36
  Speaker 3: I could not with that money be able to.
• 29:38
  Speaker 6: Afford a four bedroom house in Brunswick, but maybe I
• 29:43
  Speaker 6: could in Reservoir. I'm not that far away from my friends.
• 29:46
  Speaker 6: And maybe I'm not buying it outright. Maybe I've just
• 29:49
  Speaker 6: got a two hundred thousand dollars mortgage. I'm just I
• 29:52
  Speaker 6: don't know if that's actually how it works, but a
• 29:54
  Speaker 6: smaller mortgage, just like you don't have to you don't
• 29:56
  Speaker 6: have to go buy it completely out right.
• 29:58
  Speaker 1: Just get somethings, maybe even a lit do.
• 30:00
  Speaker 6: We more than that, and you can be close to
• 30:02
  Speaker 6: your friends and family, you don't have to work as much,
• 30:04
  Speaker 6: you spend time with your kids.
• 30:06
  Speaker 1: Like everything's good.
• 30:07
  Speaker 6: Maybe just get like a part time job, also like
• 30:09
  Speaker 6: not working at all, Not that that's what they're suggesting,
• 30:12
  Speaker 6: but it sounds great, But when you're sometimes you and
• 30:15
  Speaker 6: you leave for too long and you're like, I'm desperately
• 30:17
  Speaker 6: bored and sad and lonely, and so there might be
• 30:20
  Speaker 6: this nice balance in between that we're not looking at.
• 30:23
  Speaker 6: So you know, have a look at places around you
• 30:26
  Speaker 6: just slightly outside your zone, but you're close to your
• 30:29
  Speaker 6: friends still, and you're close to your lifestyle. You're close
• 30:32
  Speaker 6: to the schools, and you're close to everything you know,
• 30:35
  Speaker 6: and even if you need a little mortgage, it's okay?
• 30:39
  Speaker 5: Is that right?
• 30:40
  Speaker 3: Am I right in saying that? Is that a possibility
• 30:42
  Speaker 3: that you get a little mortgage to something?
• 30:43
  Speaker 1: Yeah?
• 30:44
  Speaker 7: Cool?
• 30:44
  Speaker 1: Yeah, it's all dependent on what they purchase. So as
• 30:47
  Speaker 1: to say our listeners saying that they to purchase a
• 30:50
  Speaker 1: home within their price range their meaning within the cash
• 30:52
  Speaker 1: that they have, so at around the six hundred thousand
• 30:54
  Speaker 1: dollar marks. Yeah, obviously we don't have any context as
• 30:56
  Speaker 1: to where you live or any insight into you know,
• 30:59
  Speaker 1: what distance is at what the price is. You know,
• 31:02
  Speaker 1: can you move The example you gave here Beck is
• 31:05
  Speaker 1: you move, you know, maybe half an hour away from
• 31:07
  Speaker 1: your ideal location, but the price range drops significantly. We
• 31:10
  Speaker 1: don't really know what that looks like for our listener. Yes,
• 31:12
  Speaker 1: that's I would say, you need to consider how reliant
• 31:16
  Speaker 1: you are on your network, like your family and your friends.
• 31:20
  Speaker 1: Because if you're someone who has you know, mom and
• 31:22
  Speaker 1: dad look after the kids a couple of days a week,
• 31:24
  Speaker 1: we're having dinner, you know, once or twice a week
• 31:27
  Speaker 1: with our friends, We've got all our regular catch ups.
• 31:29
  Speaker 1: I think moving away from that would be a lot.
• 31:31
  Speaker 1: Whereas if you find that because your five fo perhaps
• 31:35
  Speaker 1: you're already a little bit more isolated, the move may
• 31:38
  Speaker 1: not be as taxing on you, or it may not
• 31:40
  Speaker 1: be as hard to move away from that circle. It's
• 31:42
  Speaker 1: really going to depend on, like how closely I guess
• 31:46
  Speaker 1: you're leaning on everybody. You said that your ideal or
• 31:49
  Speaker 1: dreamy location. In my mind, I'm picturing you moving to
• 31:52
  Speaker 1: like a beach somewhere, right, Like you're moving from like
• 31:54
  Speaker 1: a city or a countryside town to like a beach
• 31:56
  Speaker 1: or something like that. And so I guess you also
• 32:00
  Speaker 1: have to weigh up, like the lifestyle that you would
• 32:02
  Speaker 1: live in this new location again against the loss of
• 32:06
  Speaker 1: your proximity to friends and family starting over, it might
• 32:10
  Speaker 1: be exciting for you like you might like the challenge.
• 32:12
  Speaker 1: You can make new friends in new places, Like, It's
• 32:14
  Speaker 1: not as if you move away and you never talk
• 32:17
  Speaker 1: to anybody ever. Again, family is a little bit trickier obviously,
• 32:20
  Speaker 1: but it really depends on you in your situation. I agree, though,
• 32:23
  Speaker 1: I think that being debt free is a really great
• 32:27
  Speaker 1: appealing thing, and I'm sure many of us would love
• 32:29
  Speaker 1: to never have any debt when it comes to our property.
• 32:32
  Speaker 1: But if you have that six hundred thousand dollars in cash,
• 32:35
  Speaker 1: you could potentially take a small loan with very minimal
• 32:39
  Speaker 1: repayments compared to what you would are paying currently and
• 32:44
  Speaker 1: have Yeah, that middle ground where maybe you're still within
• 32:46
  Speaker 1: the state or driving distance, maybe you're a couple hours
• 32:49
  Speaker 1: away from the people you love, but also in a
• 32:53
  Speaker 1: property that you love as well. Yes, I feel like
• 32:55
  Speaker 1: we don't eve enough details to really be able to
• 32:57
  Speaker 1: lack fully.
• 32:58
  Speaker 3: Do you know what I mean?
• 32:59
  Speaker 2: Yeah?
• 33:00
  Speaker 3: No, I totally get it.
• 33:01
  Speaker 5: I am like, I've been looking at it and thinking
• 33:04
  Speaker 5: about it, and you've just told me that essentially you
• 33:07
  Speaker 5: have six hundred thousand dollars in equity. Get financial advice.
• 33:12
  Speaker 5: Go sit down with a financial advisor and talk about
• 33:15
  Speaker 5: your lifestyle goals, what you want to achieve, what that's
• 33:17
  Speaker 5: going to look like. You know that you do want
• 33:19
  Speaker 5: to work less. What income requirements you have in the future, Like,
• 33:23
  Speaker 5: just being completely debt free doesn't mean you don't need
• 33:25
  Speaker 5: income coming in the door. Like just because you have
• 33:28
  Speaker 5: a house fully paid off doesn't mean you never work
• 33:30
  Speaker 5: a day in your life again unfortunately, Yeah, so what
• 33:33
  Speaker 5: does that look like? Because a financial advisor could sit
• 33:36
  Speaker 5: down and be like, okay, cool, well let's do some projections.
• 33:38
  Speaker 5: And as an ex financial advisor, this was one of
• 33:41
  Speaker 5: my favorite things. Like we would do projections based on
• 33:44
  Speaker 5: different scenarios, so then we could pick the scenario that
• 33:47
  Speaker 5: made the most sense based on that projection. So we
• 33:50
  Speaker 5: could project you staying in that property. We could project
• 33:52
  Speaker 5: you renting out that property. And I know that you're saying, oh,
• 33:55
  Speaker 5: that property costs more than it does yield in rent income,
• 34:01
  Speaker 5: which is fine, but like, what would that property be
• 34:04
  Speaker 5: worth in the future. What are your capital gains on
• 34:06
  Speaker 5: that property? You know, what are the selling costs? Back
• 34:09
  Speaker 5: to what you were saying, Jess, like what would childcare
• 34:11
  Speaker 5: look like like? All of those additional things, Because yes,
• 34:15
  Speaker 5: you want more freedom and flexibility, but just being completely
• 34:19
  Speaker 5: debt free today might not actually put you in the
• 34:21
  Speaker 5: wealthiest position. Long term debt free fantastic sounds incredibly sexy,
• 34:26
  Speaker 5: but if you've got thirty plus years of working left,
• 34:30
  Speaker 5: like are we investing? Like? How are we creating long
• 34:33
  Speaker 5: term wealth? Because extinguishing debt doesn't necessarily mean that that's
• 34:38
  Speaker 5: the best decision for you. Like I know that with
• 34:41
  Speaker 5: my mortgages, if you just extinguished one today, that like great.
• 34:45
  Speaker 3: No worries.
• 34:45
  Speaker 5: I'd love to be quote debt free on my mortgage,
• 34:47
  Speaker 5: But like, what am I doing with that income that's
• 34:50
  Speaker 5: coming in now? Like that would be the question. If
• 34:52
  Speaker 5: I don't have a mortgage, how am I creating wealth?
• 34:55
  Speaker 2: Like?
• 34:55
  Speaker 5: Am I investing it in the share market? Am I
• 34:57
  Speaker 5: buying another property? Am I building another business?
• 35:00
  Speaker 2: Like?
• 35:00
  Speaker 3: What do all these things look?
• 35:01
  Speaker 6: Like?
• 35:02
  Speaker 5: That's the question, not should I just move and be
• 35:05
  Speaker 5: completely debt free? Yes, you would get more time with kids,
• 35:08
  Speaker 5: and I totally get that because as a mum, I
• 35:10
  Speaker 5: want to spend the most amount of time with my baby,
• 35:13
  Speaker 5: but I also need to pay his school fees in
• 35:16
  Speaker 5: the future. I also need to create a lifestyle where
• 35:19
  Speaker 5: my husband and I can comfortably retire so that maybe
• 35:22
  Speaker 5: one day, when Harvey decides to have kids, I can
• 35:25
  Speaker 5: afford to give child care to my kids. Like, there's
• 35:28
  Speaker 5: a lot to think about, and that's probably not the
• 35:30
  Speaker 5: sexiest of answers. But if you are telling me that
• 35:35
  Speaker 5: you have six hundred thousand dollars in equity in your property,
• 35:38
  Speaker 5: I promise you have the cash to pay a financial
• 35:41
  Speaker 5: advisor in the best possible position.
• 35:45
  Speaker 3: That's a great point.
• 35:45
  Speaker 1: Whatever Bill say.
• 35:46
  Speaker 5: Okay, So there was a lot of opinions. So first
• 35:49
  Speaker 5: question we asked what would you do in you're in
• 35:52
  Speaker 5: this situation. Forty five percent of you said I'd sell
• 35:55
  Speaker 5: and be debt free. Twenty eight percent of you said
• 35:57
  Speaker 5: sell and get a new mortgage, three percent of you
• 36:00
  Speaker 5: said hold and use equity to invest in. Four percent
• 36:03
  Speaker 5: of you said keep renting and wait it out. We
• 36:06
  Speaker 5: then asked, would you move into state away from friends
• 36:09
  Speaker 5: and family if it meant being mortgage free and quitting
• 36:11
  Speaker 5: five fo to be with your family. Twenty six percent
• 36:14
  Speaker 5: of you said yes, it would one hundred percent be
• 36:15
  Speaker 5: worth it, Forty six percent of you said maybe it
• 36:18
  Speaker 5: would be a hard call, and twenty seven percent of
• 36:21
  Speaker 5: you said no, I could never leave my support system.
• 36:24
  Speaker 5: We then said what is your two cents? And we
• 36:27
  Speaker 5: had a number of good comments. So first comment said,
• 36:29
  Speaker 5: five FO is very challenging as a lifestyle. I've been
• 36:32
  Speaker 5: doing it for nine years. It's not for the faint hearted.
• 36:35
  Speaker 5: That's a great point, very true. But also what does
• 36:39
  Speaker 5: that lifestyle exchange look like? So, yes, you're changing five
• 36:43
  Speaker 5: FO and it is not for the faint hearted. But
• 36:46
  Speaker 5: often with FIVEFO you've got like five on, five off
• 36:49
  Speaker 5: or whatever that might look like. Is that a value
• 36:52
  Speaker 5: to you?
• 36:53
  Speaker 1: Like you enjoying that flow?
• 36:54
  Speaker 2: Do you know what I mean?
• 36:55
  Speaker 5: There's just so much to weigh up. Someone else said,
• 36:58
  Speaker 5: just toss a coin, the disappointment or the euphorio you
• 37:02
  Speaker 5: feel that the answer is going to tell you, oh great,
• 37:06
  Speaker 5: cal I do like that.
• 37:07
  Speaker 1: That's why I said it that way.
• 37:10
  Speaker 5: That way I think I did a funny Next person
• 37:13
  Speaker 5: said it's important to weigh up the other costs of
• 37:15
  Speaker 5: living away, which might not just be financial. Another person said,
• 37:19
  Speaker 5: my husband and I are working in the defense force.
• 37:22
  Speaker 5: We'd sell and move in a heartbeat for more family time.
• 37:26
  Speaker 1: It's fair.
• 37:27
  Speaker 5: Another person said, we moved, We're never going back. We
• 37:30
  Speaker 5: love our new home and our disposable income to visit
• 37:33
  Speaker 5: our family when we need, which is really coy and
• 37:36
  Speaker 5: I have no more to share with you. The next
• 37:38
  Speaker 5: one is you won't have that time back with your
• 37:41
  Speaker 5: kids if you're debt free, maybe you could save again.
• 37:44
  Speaker 5: And the last person said, you need to consider what
• 37:46
  Speaker 5: the job market.
• 37:47
  Speaker 3: In that new area looks like. Great point. Yeah, great point.
• 37:51
  Speaker 5: That's good and I feel like that's a really great
• 37:52
  Speaker 5: place to leave it. Interesting question, not as juicy as
• 37:55
  Speaker 5: I thought. I was like, what are you doing to
• 37:57
  Speaker 5: be completely outright, and the answer ended up being equity,
• 38:00
  Speaker 5: which honestly makes.
• 38:01
  Speaker 3: A lot of sense.
• 38:03
  Speaker 5: We're like yolo. Anyway, it has been a good episode, obviously.
• 38:07
  Speaker 5: I love hanging out with you guys. But we'll see
• 38:09
  Speaker 5: you next week, bright and early on Monday morning for
• 38:11
  Speaker 5: a money Darry. Have a good weekend, guys, By guys. Bye.
• 38:21
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• 38:23
  Speaker 5: in nature and does not consider your individual circumstances. She's
• 38:27
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• 38:31
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• 38:34
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• 38:37
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