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Bossy Bride or Ungracious Guest? · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
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Speaker 3: She's on the Money, She's on the Money.
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Speaker 4: Hello, and welcome to She's on the Money the podcast
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Speaker 4: Millennials who want financial freedom. Today, my friends, it is Friday,
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Speaker 4: which means it is time to get our little team
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Speaker 4: together and celebrate you, our incredible She's on the Money
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Speaker 4: community today, Miss beck say it is going to be
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Speaker 4: sharing some broke tips.
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Speaker 2: Miss Jess Gricci is off.
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Speaker 4: Sick because she had the audacity to get her wisdom
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Speaker 4: teeth out. So guess what we've replaced her with a baby.
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Speaker 4: Harvey is here. Yeah, thank you, Harvey. He's absolutely ready
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Speaker 4: to share some favorite money wins and confessions from the community,
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Speaker 4: and we're going to be helping to answer a juicy
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Speaker 4: money dilemma, which this week we're chatting all about aprs
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Speaker 4: versus interest rates, and we're going to be unpacking something
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Speaker 4: you slid into our DMS about which this week we're
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Speaker 4: talking about having to pay when you pull out of
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Speaker 4: a wedding due to pregnancy complications.
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Speaker 2: I feel like.
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Speaker 4: That's going to be so spicy, and as somebody who
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Speaker 4: has experienced pregnancy, I'm probably going to be also spicy.
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Speaker 2: True, But Beck, yes, how was your week? What have
2:01
Speaker 2: you been up? It was so good? Why so good?
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Speaker 4: Well?
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Speaker 5: Okay, so I had a really lovely weekend.
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Speaker 4: It was.
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Speaker 5: It was a pretty big one and I think I
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Speaker 5: was just craving a big one, you know.
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Speaker 2: But also a big weekend. I think I was.
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Speaker 5: I think it's been really chill for too long and
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Speaker 5: like obviously, like you haven't really been working that much.
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Speaker 5: And I had a big weekend, saw a lot of
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Speaker 5: friends and last Weeken and I saw Missy Higgins.
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Speaker 4: I'm sorry where because like you didn't call me and
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Speaker 4: tell me she was around.
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Speaker 2: She's literally my favorite. I am I know every.
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Speaker 4: Single word to every single one of her songs and
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Speaker 4: I have done since like grade seven.
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Speaker 2: You would have loved it. I'm obsessed with her. You
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Speaker 2: can still see her.
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Speaker 5: She's coming back in June, and I think she's like
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Speaker 5: going around Australia, but for some.
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Speaker 2: Reason, she's playing in Melbourne and June again.
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Speaker 5: Playing the Palais, you know, such a sick location. It
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Speaker 5: was really nice and I was like, I don't venture
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Speaker 5: that way, but for Missy Higgins.
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Speaker 4: I'll go as far as I need to go to
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Speaker 4: Missy Higgins. Yeah, Slay, I love that.
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Speaker 2: Really amazing, So thank you so much. I was a
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Speaker 2: really good week. How was your week? My week was good.
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Speaker 4: I've just been out here parenting. I mean, I'm not
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Speaker 4: the first person in the entire world to have a
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Speaker 4: business and you know, have a child, but it genuinely
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Speaker 4: sometimes feels like I'm trying to make it work and
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Speaker 4: like what do I do and how does it work?
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Speaker 2: Which is why Harvey's here today.
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Speaker 4: Actually, I didn't want to be recording with him all
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Speaker 4: the time, because like I do like to separate work
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Speaker 4: and life, but I double booked myself and I feel
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Speaker 4: like that's one stereotypical Victoria but two like, you just
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Speaker 4: do what you've got to do, So bring your baby
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Speaker 4: to work day. Absolutely, And I'm very lucky that I
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Speaker 4: work in a situation where that's completely possible, because like
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Speaker 4: so many parents could never But I just lump my
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Speaker 4: responsibilities onto you guys, and it works well for me.
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Speaker 6: It does.
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Speaker 2: Actually, we're begging. We're begging to take care.
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Speaker 4: I got in trouble the other day actually because I
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Speaker 4: came into the office and people are like, where's Harvey,
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Speaker 4: And I was like, he's at home with my very
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Speaker 4: confident husband.
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Speaker 2: Why are you asking They're like, oh, because we wanted
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Speaker 2: him here.
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Speaker 4: They weren't actually questioning why I wasn't looking after my baby.
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Speaker 2: Hello, you've talked to that conclusion.
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Speaker 4: I mean, I've I'm very used to that kind of
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Speaker 4: experience in the office for a few years now, because
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Speaker 4: we bring Lucy in and so like in the office,
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Speaker 4: I have been known for a very long time as
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Speaker 4: just Lucy's mom, Like, who's Victoria. Nobody cares about Victoria.
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Speaker 4: I get it. So that experience wasn't you. But now
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Speaker 4: I'm Harvey's mum.
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Speaker 5: Oh yeah, okay, okay, Well now you're like people in
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Speaker 5: the office a steel like Lucy's mom some of Harvey's mom.
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Speaker 5: I feel like now you're just like you're even less seen,
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Speaker 5: and I'm sorry about that, but I will see you.
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Speaker 4: I'm all right with that because I'm seeing a lot
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Speaker 4: of other places and sometimes it's just really nice.
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Speaker 2: Yeah, humbled.
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Speaker 4: Oh yeah, just keeps me grounded, you know, yes, But
4:41
Speaker 4: speaking of humboldt, have you got some like broke tips
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Speaker 4: for us so that we can keep ourselves humble? Yeah?
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Speaker 5: I actually do, actually do, And I am not going
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Speaker 5: to be as rogue this week.
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Speaker 2: You've decided to like take a little steppy step back.
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Speaker 5: Honestly, I think next week I will be rogue again.
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Speaker 5: But I figured where for jess to be here because
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Speaker 5: I feel like she really enjoys them.
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Speaker 2: Yeah.
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Speaker 4: Like that video, and I don't know if you guys
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Speaker 4: saw it, I'll probably post it again to my stories.
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Speaker 4: It's just Jessica cackling like a little witch.
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Speaker 2: She just could not stop.
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Speaker 4: We stopped recording because she was cackling so hard and
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Speaker 4: she couldn't stop.
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Speaker 2: It was great. It was so sweet.
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Speaker 4: Have you thought about going into comedy because you're a
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Speaker 4: funny girl?
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Speaker 2: Oh my goodness, that's so cute.
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Speaker 5: I feel like when you're a regular person, you're just
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Speaker 5: like you can be a funny person, but when you're
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Speaker 5: a comedian, it's like you're funny.
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Speaker 2: You know, you're like proper funny. Oh that's very sweet.
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Speaker 4: I'd pay as much as you paid to go see
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Speaker 4: me see Higgins.
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Speaker 2: Oh my goodness, I just really like you. That's so sweet.
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Speaker 5: Maybe that's a broke tip. Get into comedy.
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Speaker 2: Make your friends pay to seat Yeah.
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Speaker 5: Exactly, no matter what you're doing. Yeah, yeah, yeah, pay
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Speaker 5: to play, baby exactly. All right, what have you got? Okay,
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Speaker 5: So I have, as always two from the community, one
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Speaker 5: for myself. So we'll start off with Taylor. This one's
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Speaker 5: like from Taylor, but also from my girlfriend, who gave
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Speaker 5: me the exact same bit of advice just over the weekend.
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Speaker 5: So they both say, get your fruits and veg from
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Speaker 5: farmers markets, the local markets that my partner goes to,
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Speaker 5: Paran Market. She paid thirty five dollars for a huge
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Speaker 5: box of fruit and veg and she made like this
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Speaker 5: soup that will last the entire week. That's a whole
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Speaker 5: week of dinners. I'm pretty sure it's for her and
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Speaker 5: her housemates. So a whole week of dinners for two people.
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Speaker 5: I feel like you could probably even get more out
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Speaker 5: of it. She chucked a lot into this soup. But
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Speaker 5: you could really extend this. This could last weeks conceivably,
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Speaker 5: so giant box of fruit and vege. Go to your
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Speaker 5: local farmer's market.
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Speaker 2: Farmer's Market's also really wholesome.
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Speaker 4: That's an activity, that's a free activity, even if you're
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Speaker 4: not planning on purchasing anything.
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Speaker 6: Back.
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Speaker 4: Next Sunday morning, you and I could go to the
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Speaker 4: farmer's market. We could make our own coffees, take them,
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Speaker 4: wander round.
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Speaker 5: Feel wholesome. That's so wholesome. It is really wholesome. It's
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Speaker 5: so good for the mental health. Like I don't know
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Speaker 5: what it is about, what's the science, but.
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Speaker 2: I think it's actually getting out in their fresh air. Yeah,
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Speaker 2: probably that's what it is.
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Speaker 5: Like that's actually scientifically proven to help you. I really
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Speaker 5: love that. So that is one broke tip. The other
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Speaker 5: one comes from Megan or Meghan. I'm sorry I'm saying
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Speaker 5: this wrong. This is very clever. No need for dry
7:14
Speaker 5: shampoo use Bi carves soda instead. She pops it in
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Speaker 5: a little salt shaker and it's instant dry shampoo. So
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Speaker 5: I've never had to use dry shampoo. We don't really
7:24
Speaker 5: know how it all works, to be honest with you,
7:25
Speaker 5: but I'm obsessed with dry shampoo, and I feel like
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Speaker 5: that is a great hack. Yeah, Like it's I mean,
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Speaker 5: I don't know how much it costs, but it's you know,
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Speaker 5: bike up soda I'm assuming is less than hand bugs
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Speaker 5: of box.
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Speaker 4: Yeah, Like dry shampoo is expensive. Like my can of
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Speaker 4: dry shampoo's at least twenty dollars. Well, there you go.
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Speaker 2: That's a money wins very expensive. For my goodness. I mean,
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Speaker 2: my hack.
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Speaker 4: When it comes to like keeping your hair clean is
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Speaker 4: not using dry shampoo. Because I literally will use dry
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Speaker 4: shampoo to avoid washing my hair, right, so you could
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Speaker 4: just wash your hair too, sure, Like, don't get me wrong,
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Speaker 4: dry shampoo can save the day. But when you're Victoria
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Speaker 4: Vine and you've just been using it so that you
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Speaker 4: don't have to do the rigmarole of washing, Yeah, just
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Speaker 4: wash your hair, babes, just wash it. Do you know
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Speaker 4: how much better you feel when you wash your hair? Like,
8:14
Speaker 4: you know, when you've been putting it off and you're like, oh,
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Speaker 4: I feel a little bit greasy, I'm a bit gross,
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Speaker 4: Like to me, dry shampoo doesn't make you feel incredible.
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Speaker 4: It makes you look good, but like I don't feel fresh. Yeah,
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Speaker 4: sometimes you do need to have a shower.
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Speaker 2: Totally get that. Totally get that.
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Speaker 5: Sometimes I like to make myself so gross so that
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Speaker 5: I can have everything shower.
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Speaker 4: You just like go full rogue. You're like, I Am
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Speaker 4: going to not shower for a week. What are you
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Speaker 4: talking about?
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Speaker 5: And I also did like a nope shampoo thing for
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Speaker 5: a while and it was really nice when I finally washed.
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Speaker 4: So you are really concerning me. If Jess was here,
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Speaker 4: she'd be cackling.
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Speaker 2: I would hope. So hopefully she's listening to this.
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Speaker 5: I just hope you crackling back for next week, so
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Speaker 5: you do so help please Victoria, mainly because I'm really
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Speaker 5: going broke here. So the next broke tip is obviously
9:03
Speaker 5: from myself. This one I have done in the past,
9:07
Speaker 5: and it obviously depends on the person and where you're
9:10
Speaker 5: at in your life and things like that. But I was,
9:13
Speaker 5: you know, as usual, really broke at another point in
9:16
Speaker 5: my life. And so what I did was I signed
9:18
Speaker 5: up to a clinical trial. There was one that was
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Speaker 5: like three you get like three fifty dollars calls gift
9:25
Speaker 5: fouches if you just attend three times. All I did
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Speaker 5: was I went to this like UNI, and I sat
9:31
Speaker 5: in an MRI and I literally just had straws in
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Speaker 5: my mouth and.
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Speaker 2: Had straws in your mouth. I did. I had to
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Speaker 2: drink milkshakes and look at a screen. You had to
9:38
Speaker 2: drink milkshakes.
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Speaker 6: I don't know.
9:39
Speaker 2: I didn't understand it. I didn't understand the science pop
9:41
Speaker 2: I was in the milkshakes.
9:43
Speaker 5: There was a strawberry one, a chocolate one, but then
9:45
Speaker 5: also a carrot juice and an orange juice, and it
9:48
Speaker 5: all sounds like do.
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Speaker 2: You know what the name of the study was. I'm
9:52
Speaker 2: so sorry, I don't remember, but I do know. They're
9:54
Speaker 2: just like, we're just testing our brunch options.
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Speaker 1: Yeah.
9:56
Speaker 2: I couldn't really figure out. I think they were trying
9:57
Speaker 2: to figure out was there something in the juice. No,
10:00
Speaker 2: they were.
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Speaker 5: Trying to figure out like satisfaction if you are, like
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Speaker 5: how you perceive food if you're That's the other thing
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Speaker 5: I didn't. I couldn't eat at the beginning of the day,
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Speaker 5: So satisfaction based on if you ate the start of
10:14
Speaker 5: the day and if you didn't something like that. It
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Speaker 5: was but Anyway, So this three times, I was there
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Speaker 5: for like twenty minutes each time, and sometimes.
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Speaker 4: I go, my life's really boring. I'm gonna call Beck, Like, honestly,
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Speaker 4: you've always got something that you've been doing that is
10:30
Speaker 4: super interesting and really left field, Like I cannot go. Oh,
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Speaker 4: I'll call Beck and see if she's had like an
10:36
Speaker 4: interesting week at work.
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Speaker 2: Sure, not like any of my other friends.
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Speaker 4: You're like, So I went to this university and I
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Speaker 4: drank carriage juice, like what?
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Speaker 2: And you got paid for the I certainly did, and
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Speaker 2: that was enough and there was nothing in the carrot juice.
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Speaker 5: Not that I'm aware of, but I just I always
10:54
Speaker 5: remember leaving there feeling like really a bit sickly. But anyway,
10:58
Speaker 5: because they would fill me to the brim with liquids.
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Speaker 2: Couldn't be vague because you had to drink some milkshakes. No,
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Speaker 2: that's true. And so this is the thing.
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Speaker 5: So if you just google clinical trials, it was another
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Speaker 5: one that I was very close to doing, but something
11:10
Speaker 5: came up. I'm not sure it was, but you stay
11:12
Speaker 5: in hospital for like three nights, you get like literally
11:15
Speaker 5: four thousand dollars. They're just trialing a new drug or
11:17
Speaker 5: something like that. So honestly, if you're out there and
11:20
Speaker 5: you have if you're healthy, don't you're not immuno compromised.
11:24
Speaker 5: You don't even have to be like in a load
11:26
Speaker 5: of money.
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Speaker 2: It's really good, you don't.
11:28
Speaker 5: You don't have to necessarily be like in a quote
11:29
Speaker 5: unquote healthy weight range, because I'm like, you know, I'm
11:32
Speaker 5: like to think of myself as a little bit chunky.
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Speaker 2: No, she's full of life. Oh, she's full of life. Faye, chunky,
11:37
Speaker 2: thank you, chunky but funky. That's so nice, thank you
11:40
Speaker 2: so much.
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Speaker 4: Like what is that about. We don't call ourselves chunky
11:42
Speaker 4: in this house? Oh I see, no chunky butt funky,
11:45
Speaker 4: chunky bit funky. But yeah, this is the thing.
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Speaker 5: So I would I would recommend googling it and you
11:49
Speaker 5: can go through like an eligibility test and just find
11:52
Speaker 5: out what's good. That's so cool, Paul, And yeah, just
11:55
Speaker 5: you know whatever, it's really good. It's a really good
11:58
Speaker 5: quick way to make some money. That's a genuinely good
12:00
Speaker 5: broke tip.
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Speaker 2: Thank you.
12:01
Speaker 4: So, like, if you are broke, you can get some
12:03
Speaker 4: cash and at the end of the day, like saving
12:05
Speaker 4: money on stuff is good, yes, but usually when you're broke,
12:08
Speaker 4: you don't have money to save.
12:09
Speaker 5: Exactly exactly ideal, and you're also.
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Speaker 2: Helping the resigned to the community. I don't understand it.
12:16
Speaker 2: You're helping someone out there. I love it well.
12:19
Speaker 4: I would usually right here segue into Miss Jess Gricy
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Speaker 4: sharing some community money wins and confessions. So, Beck, would
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Speaker 4: you like to see what I have pulled out this week?
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Speaker 2: Please? It's good? Are you ready? So ready?
12:31
Speaker 4: I have picked a few that have stroked the Shees
12:33
Speaker 4: on the Money ego because of Yesley. All right, So
12:36
Speaker 4: the first is from Eliza Jane. She said, a money
12:39
Speaker 4: loss for us and the confirmation of why we are
12:42
Speaker 4: changing over.
12:42
Speaker 2: To the Shees on the Money way.
12:44
Speaker 4: We are away for the long weekend and I thought
12:46
Speaker 4: we had a lot more money saved for it than
12:48
Speaker 4: we actually did. So in the hotel reception, I had
12:52
Speaker 4: to scrimp and work out what money was where to
12:54
Speaker 4: pay for the hotel. Having things in accounts both of
12:57
Speaker 4: us can't see, left us almost canceling our accommodation and
13:01
Speaker 4: just heading home. My husband was not one hundred percent
13:04
Speaker 4: on board with She's on the Money to begin with.
13:06
Speaker 4: Now he sees how transparent and beneficial it's going to
13:08
Speaker 4: be for our future. Money for me has always had
13:11
Speaker 4: a bad feeling. I have generational money trauma from my
13:14
Speaker 4: parents who lived way beyond their means and should have
13:17
Speaker 4: been able to retire now, but continue to live outside
13:20
Speaker 4: what they earn. I'm trying so hard to change this
13:23
Speaker 4: narrative for my kids.
13:25
Speaker 2: Isn't that cute?
13:26
Speaker 4: I mean, I'm really sorry that you went through that,
13:27
Speaker 4: because that just would have felt like trash, like, you know,
13:30
Speaker 4: going away for the weekend and then realizing you didn't
13:32
Speaker 4: have the cash and just being.
13:33
Speaker 2: Like why are we doing this?
13:34
Speaker 4: Like, but I hope you still enjoyed your weekend totally.
13:38
Speaker 4: I'm so glad your husband's now on board. Like, it's
13:40
Speaker 4: so hard sometimes to convince someone of a passion that
13:44
Speaker 4: you have. Yeah, it's like, you know, Beck, I've been
13:46
Speaker 4: talking to you about something for so long and you
13:48
Speaker 4: finally get on board, and then we're trying to get
13:50
Speaker 4: our other friend who has never heard of it, Like
13:52
Speaker 4: that's going to be challenging to convince them.
13:54
Speaker 2: Yeah, so satisfying.
13:55
Speaker 4: It's so satisfying when you finally get them across the line,
13:57
Speaker 4: because you know it's for the greater good. Lily says,
14:01
Speaker 4: I'm a horrible, horrible spender and it runs in the family.
14:04
Speaker 4: I made the ambitious goal of saving ten thousand dollars
14:08
Speaker 4: this year. I had a few bumps in the road
14:10
Speaker 4: with birthdays and overspending, but I am now only one
14:13
Speaker 4: thousand dollars behind my ideal on track goal.
14:16
Speaker 2: I'm so proud of that.
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Speaker 5: That's so good, And it's like literally May.
14:20
Speaker 2: It's May, But like, isn't it cool that she's tracking it?
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Speaker 4: Yeah, and just going I'm only one thousand dollars behind
14:26
Speaker 4: the goal that I've set, so she knows where she's at,
14:28
Speaker 4: where we need to be. Really, you've got so much
14:31
Speaker 4: time to make it up. You're still going to get there.
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Speaker 4: Isn't it cool?
14:34
Speaker 2: That's really cool? Tracking God on your money win? All right?
14:37
Speaker 4: Next one we've got is from Shantell. She said it's
14:40
Speaker 4: a relatively small money win. But I found organic eggs
14:44
Speaker 4: for half price at five bucks reduced in that little
14:47
Speaker 4: sale section at Woollies they sometimes have, considering it's usually
14:51
Speaker 4: about twelve bucks a dozen. I may have gotten a
14:54
Speaker 4: couple of dozen, and I partly stocked my freezer with
14:56
Speaker 4: some veggie slice for another time. Nice, isn't that good. Yeah,
15:00
Speaker 4: very genius, genius, Melissa, here you go. I've got a
15:04
Speaker 4: few of these. I'm so excited. I just got a
15:05
Speaker 4: little bit carried away. This week, Melissa bit the bullet
15:08
Speaker 4: and I paid off a fifteen hundred dollar credit card.
15:11
Speaker 4: Whilst my savings did take a hit, it feels nice
15:14
Speaker 4: to have one thing completely gone.
15:16
Speaker 5: That's so good. Good for you, babe, you.
15:19
Speaker 4: Know us as a queen sus because do you know
15:20
Speaker 4: what her comment was? Four words? This was the entire
15:24
Speaker 4: comment after pay gone forever. Oh yes, lay queen, that's
15:28
Speaker 4: so good, and that I have two more for you.
15:30
Speaker 2: Just I couldn't stop.
15:32
Speaker 4: I'm really sorry, so Annabelle said. My partner and I
15:35
Speaker 4: have started shopping at the markets like your broke tip,
15:39
Speaker 4: and if we can't find what we want, we go
15:41
Speaker 4: to Audi. We keep all the receipts and then go
15:44
Speaker 4: onto the coals app and put in what we bought
15:46
Speaker 4: closest possible, obviously, and whatever the difference is, we put
15:50
Speaker 4: that money in a separate savings account.
15:53
Speaker 2: Nice.
15:54
Speaker 4: Well, it didn't take long for us to save a
15:56
Speaker 4: decent amount, and we were able to celebrate my partner's
15:58
Speaker 4: graduation with a really nice dinner from all those savings.
16:02
Speaker 2: So good. Yeah, I really like that. I like how
16:06
Speaker 2: it kind of makes sense as well.
16:07
Speaker 4: It's like you're actually going in and transferring the difference
16:11
Speaker 4: between what you would have paid and what you did
16:13
Speaker 4: pay so that the savings add up. But you can
16:16
Speaker 4: see it like it feels good as well, and we
16:18
Speaker 4: all love a feel good money. Oh yeah, like not
16:20
Speaker 4: just like, oh yeah, saved some money. I think, like, no,
16:23
Speaker 4: she's added it up and then she could have a
16:24
Speaker 4: bougie dinner.
16:25
Speaker 2: Yeah, slay. I love this.
16:27
Speaker 4: And then the last one I've got is from Tara
16:29
Speaker 4: and Tara says, I used a bulk payment from a
16:32
Speaker 4: client for my side hustle to pay out all my
16:35
Speaker 4: remaining debts, get six months ahead on my phone bill,
16:39
Speaker 4: and contribute significantly to my emergency fund.
16:42
Speaker 2: That's so good. Must have been a nice amount of money, Tara.
16:45
Speaker 2: She said, I also.
16:46
Speaker 4: Googled product for this client at four am and achieved
16:49
Speaker 4: a significant discount, so my overhead's dropped and I had a.
16:53
Speaker 2: Little more profit.
16:54
Speaker 4: So I pre bought three weeks worth of meat to
16:57
Speaker 4: freeze so my kids and I don't run out down
16:59
Speaker 4: the train. These are huge money wins. For me after
17:03
Speaker 4: a few months of transitional wages, moving expenses and living
17:07
Speaker 4: really lean.
17:08
Speaker 2: Isn't that cool?
17:09
Speaker 5: Yeah?
17:09
Speaker 2: Really cool.
17:10
Speaker 4: She finally had a big win. Like it was like
17:12
Speaker 4: that light at the end of the tunnel. She was like, Oh,
17:15
Speaker 4: finally I can get rid of my debt, I can
17:17
Speaker 4: pay off my phone bill. And she got ahead stocked
17:19
Speaker 4: up the phraser so that she's comfy in the future.
17:22
Speaker 2: Is that not the best? I just love people. I
17:24
Speaker 2: love people.
17:25
Speaker 4: I love it anyway. That's all I've got from the community.
17:28
Speaker 4: I reckon, we go to a really quick break and
17:30
Speaker 4: on the flip side, beck we're going to be talking
17:32
Speaker 4: all about aprs versus interest rates, and we're going to
17:35
Speaker 4: unpack something you slid into our DMS about which this
17:38
Speaker 4: week is about having to pay when you pull out
17:40
Speaker 4: of a wedding due to pregnancy complications. So guys, don't
17:44
Speaker 4: go anywhere.
17:48
Speaker 5: Welcome back, guys. Here's our money dilemma.
17:52
Speaker 4: Hi, there, have you got a money dilemma you just
17:55
Speaker 4: can't solve that. She's on the Money Team is here
17:57
Speaker 4: to help. Every week we tackle your both big and
18:01
Speaker 4: small to answer your most burning money, career and life questions.
18:04
Speaker 4: To get involved simply head to our website and leave
18:07
Speaker 4: us a short voice recording, and you might just find
18:09
Speaker 4: yourself on the show. Now, let's take a listen to
18:12
Speaker 4: this week's money dilemma.
18:14
Speaker 6: Hey, girls, my money dilemma is about aprs versus interest rates.
18:21
Speaker 6: I have a loan at the moment, and I've had
18:23
Speaker 6: it for a couple of years. I've now started to
18:27
Speaker 6: learn a little bit more education around finances, and I've
18:30
Speaker 6: decided that I think it's best to consolidate it into
18:33
Speaker 6: a new loan provider with a lower interest rate, so
18:38
Speaker 6: I'm not paying as much long term. I'm just a
18:40
Speaker 6: little bit stuck on the difference between an APR and
18:44
Speaker 6: an interest rate. My current provider has a forty seven
18:49
Speaker 6: percent APR, which seems quite high from the research I'm doing,
18:54
Speaker 6: but I'm not too sure.
18:55
Speaker 5: Oh yeah, oh yeah, Okay, buckle up, you guys APR.
19:00
Speaker 2: I am buckled up, Becky.
19:01
Speaker 5: Are you answering this hun interest rate and APR?
19:07
Speaker 2: Nice?
19:08
Speaker 5: The difference is substantially substantial, and so I think, now, Victoria,
19:14
Speaker 5: I kind of want to test you here.
19:15
Speaker 4: Is this like when you're like writing your English literature
19:19
Speaker 4: examining Grade twelve and you're just trying to meet word count.
19:22
Speaker 2: Yes, that's the vibe I'm picking up from you.
19:25
Speaker 5: Yeah, it's a little bit like that at the moment.
19:26
Speaker 5: But because I've taught you so much, v I feel
19:28
Speaker 5: like I want to hear you answer this one, just
19:31
Speaker 5: to see if you've been paying attention.
19:32
Speaker 2: If I've been paying attention to I love that. Thank
19:34
Speaker 2: you so much for this opportunity.
19:35
Speaker 4: I have been away for a while, but I also
19:37
Speaker 4: am a little bit of a finance girly, So let's
19:40
Speaker 4: just backtrack a little bit. And APR is the total
19:43
Speaker 4: annual percentage race, and this is the rate that can
19:47
Speaker 4: be used to calculate the cost of a loan, taking
19:49
Speaker 4: into account the reducing balance. So obviously you're paying it
19:52
Speaker 4: off during the year of the loan amount expressed as
19:56
Speaker 4: an annual rate, so how much are you going to
19:58
Speaker 4: pay in a year? So for these purposes, the cost
20:01
Speaker 4: of the loan is exclusive of fees, So we don't
20:04
Speaker 4: want to talk about the fees and stuff like that
20:06
Speaker 4: as well, because otherwise we're getting a little bit too complicated.
20:09
Speaker 4: APR it's a term that's often used by mortgage providers,
20:12
Speaker 4: so like banks or credit unions or even credit card providers,
20:16
Speaker 4: and they calculate it by applying the rate to your loans,
20:19
Speaker 4: reducing balance over time, and then standardizing on an annual
20:22
Speaker 4: basis regardless of the actual term, so regardless of how
20:26
Speaker 4: long the mortgage is for. Right. So APR can be
20:29
Speaker 4: used for like comparison purposes, but it can't actually be
20:32
Speaker 4: used to calculate the amount of interest you will pay
20:35
Speaker 4: each year because that's actually impossible. Simple interest, or your
20:40
Speaker 4: interest rate, on the other hand, is the interest that
20:43
Speaker 4: you pay your lender on top of the actual amount
20:45
Speaker 4: that you borrow. So like that may it's very simple.
20:48
Speaker 4: That's why it's called simple interest, and the simple interest
20:50
Speaker 4: rate is a fixed percentage of that lump sum amount. Right,
20:55
Speaker 4: So what do you need to know about this? You're
20:57
Speaker 4: gonna always find beck that the APR appears high for
21:00
Speaker 4: short term loans, but for long term loans it's lower.
21:04
Speaker 4: So it can actually be quite confusing if you're taking
21:07
Speaker 4: out a loan across several decades. So what you would
21:09
Speaker 4: usually do when taking out a mortgage, which our community
21:12
Speaker 4: member has done or is looking at. Right, So, for example,
21:15
Speaker 4: if your APR on a five hundred thousand dollars home loan,
21:19
Speaker 4: is five percent. You'll also need to consider the total
21:22
Speaker 4: interest percentage, so the tip, which is one hundred percent,
21:27
Speaker 4: So like you're going to pay one hundred percent of
21:29
Speaker 4: the interest, you're not going to get off the hook
21:30
Speaker 4: for any of it. That means that you'll end up
21:33
Speaker 4: paying one million dollars total over a thirty year mortgage.
21:37
Speaker 4: So for a five hundred thousand dollar loan with your
21:40
Speaker 4: interest rate at five percent, you'll end up paying for
21:43
Speaker 4: thirty years a total back to the bank of a
21:46
Speaker 4: million dollars. Does that make sense? So we're calculating how
21:49
Speaker 4: much the house was, so five hundred grand. You might go, oh,
21:52
Speaker 4: my purchase price was five hundred thousand dollars for this
21:54
Speaker 4: apartment or this house, But then we actually need to
21:57
Speaker 4: look at, well, how much interest are you paying back,
21:59
Speaker 4: because like the sales stick her on the front of
22:00
Speaker 4: the property. Sure, that's not what you're actually paying. You're
22:03
Speaker 4: actually paying interest, and that comes out at a million dollars.
22:07
Speaker 4: And this is what she's talking about. And this is
22:10
Speaker 4: why I think, in a very long way, I want
22:13
Speaker 4: to draw attention to this because so many times we
22:16
Speaker 4: just go, oh, my house was five hundred grand, yay,
22:18
Speaker 4: and you go great, and your interest rate, Oh, I
22:20
Speaker 4: got a really good interest rates, you know, five percent.
22:22
Speaker 2: At the moment, you.
22:23
Speaker 4: Go, well, what does that actually mean? Like, what's the
22:26
Speaker 4: interest rate going to mean that I pay back over
22:28
Speaker 4: the life of the loan? And most people will get
22:31
Speaker 4: a thirty year mortgage, right, So if I've got a
22:33
Speaker 4: thirty year mortgage, how much interest am I going to
22:35
Speaker 4: pay over that period of time? Beck, The answer is
22:37
Speaker 4: half a million dollars.
22:39
Speaker 2: That is outrageous.
22:41
Speaker 4: Well, it's good to know as well, and it's good
22:43
Speaker 4: to know that our community member is not just looking
22:45
Speaker 4: at an interest rate going how does this? You know, worker,
22:48
Speaker 4: do I feel comfy with it? She's actually doing the
22:50
Speaker 4: math and going, okay, well, over the long term, this
22:53
Speaker 4: means this. So by contrast, simple interest is like a
22:57
Speaker 4: fixed rate, so it would be like that five percent.
22:59
Speaker 4: So you go and get a five hundred thousand dollar
23:01
Speaker 4: loan and it's five percent, and it's really easy to
23:05
Speaker 4: work that out. So let's say you take out like
23:06
Speaker 4: a ten thousand dollar personal loan with a six month
23:09
Speaker 4: term and an interest rate of eleven percent.
23:12
Speaker 6: Right.
23:12
Speaker 4: The formula would then be you do ten thousand dollars
23:16
Speaker 4: times eleven percent, so point one to one, and then
23:19
Speaker 4: you do times point oh five, Sorry, then you do
23:22
Speaker 4: times point five because it's for half a year. That
23:26
Speaker 4: equals five hundred and fifty dollars. So that is the
23:29
Speaker 4: simple interest that you would pay over the length of
23:31
Speaker 4: that loan. So to take out a ten thousand dollars
23:33
Speaker 4: personal loan at eleven percent for six months you're paying that,
23:37
Speaker 4: you're paying five hundred and fifty dollars for that privilege.
23:40
Speaker 4: Sure does that make sense? So like there's simple interest
23:43
Speaker 4: for short periods of time, then there's the tip and
23:46
Speaker 4: that's for a longer period of time.
23:48
Speaker 2: So do all mortgage brokers and lenders look at this?
23:51
Speaker 2: Not necessarily, She's doing a lot more research than many
23:54
Speaker 2: of us will do. It's important to understand forty seven
23:57
Speaker 2: percent does feel quite high, but again the market is
24:02
Speaker 2: a little bit off, and what I would be doing
24:04
Speaker 2: is going and talking to a mortgage broker.
24:07
Speaker 4: So it sounds like you're doing a lot of this yourself.
24:09
Speaker 4: Your mortgage broker is going to be your best friend,
24:11
Speaker 4: and I mean not so subtle plugged to the girls
24:13
Speaker 4: that Zella money like, I obviously am obsessed with that
24:16
Speaker 4: business because it is my own and we talk to
24:19
Speaker 4: people every single day about this stuff. So go and
24:22
Speaker 4: talk to somebody who does this and it is their
24:24
Speaker 4: bread and butter, and they do it and could do
24:26
Speaker 4: it in their sleep. To make sure that you're not
24:28
Speaker 4: getting overwhelmed by terms that aren't as important, I would
24:32
Speaker 4: say as the outcome. The outcome is, Becky, you're comfortable
24:36
Speaker 4: with the interest rate and how much you're going to
24:38
Speaker 4: be paying for the property over the long term doesn't
24:41
Speaker 4: make financial sense to you and you might say yeah,
24:44
Speaker 4: or you might say absolutely not. And that's where a
24:46
Speaker 4: mortgage broker is going to help you to really simplify things.
24:49
Speaker 4: Do that makes sense because I feel like maybe our
24:52
Speaker 4: community member is getting into a really deep rabbit hole
24:55
Speaker 4: of like, Okay, well this means this, and that means
24:57
Speaker 4: that now I'm overwhelmed and I have analysis pro system.
25:00
Speaker 4: You don't deserve that during your home buying journey. We
25:02
Speaker 4: want it to be stressed free totally.
25:04
Speaker 5: The only thing I'm kind of confused about isn't APR
25:08
Speaker 5: different to TIP yes? And can you choose between the two.
25:13
Speaker 2: You can't choose between the two.
25:14
Speaker 4: Just like methodologies of calculating things like oh it's not
25:18
Speaker 4: you know, you get a choice of paying one or
25:20
Speaker 4: the other. Sure, like the bank is going to give
25:22
Speaker 4: you an interest rate. An APR is just an annual
25:25
Speaker 4: percentage rate, and so she would have calculated that herself
25:29
Speaker 4: more often than not. It's not something that we usually
25:31
Speaker 4: provide clients with unless they ask for it. And it's
25:35
Speaker 4: because of analysis paralysis. It's too much information, it's too
25:38
Speaker 4: much information overload, and it doesn't usually serve us. You know,
25:41
Speaker 4: that's where my brain would be at. It's not necessarily
25:44
Speaker 4: like one is better than the other. It's just, you know,
25:46
Speaker 4: I could look at your investment portfolio and what you
25:48
Speaker 4: already own and calculate lots of different things from it.
25:52
Speaker 2: Does it mean good or bad things? Not necessarily.
25:54
Speaker 4: You also have to kind of like zoom out and
25:56
Speaker 4: look at the market and be like, okay, well the
25:58
Speaker 4: interest rates right now are higher, Like you're not going
26:01
Speaker 4: to get away with it for cheaper unfortunately, Like there
26:03
Speaker 4: are no mortgage facilities out there offering a two percent
26:06
Speaker 4: interest rate anymore.
26:07
Speaker 2: I wish they were. I already would have gone to
26:09
Speaker 2: them myself.
26:10
Speaker 4: Personally, I think it's important to remember as well when
26:12
Speaker 4: we're looking at mortgages and when we're looking at, you know,
26:15
Speaker 4: making big purchases. Sometimes relying on the professionals is going
26:19
Speaker 4: to make you a lot more comfortable with that journey.
26:21
Speaker 4: Like I know, Beck, if I sent you down the
26:23
Speaker 4: rabbit hole of buying your first home, you would get
26:26
Speaker 4: analysis paralysis because I know you well enough to go.
26:29
Speaker 4: Beck would be trying to look at everything and make
26:30
Speaker 4: sure it's okay. Whereas if I had stepped in and said,
26:33
Speaker 4: all right, well let me help you through this and go, yeah,
26:35
Speaker 4: that's fine, Beck, don't worry about this, do worry about that.
26:37
Speaker 4: Look at this, you know, when you go in, here's
26:39
Speaker 4: a list of all your first inspection things. You're just
26:42
Speaker 4: going to be way more empowered.
26:43
Speaker 2: Yeah, Like, go and.
26:44
Speaker 4: Get a professional on your team. Because you don't pay
26:46
Speaker 4: your mortgage broker. We get paid by the banks. The
26:50
Speaker 4: banks are going to pay us when I get you
26:51
Speaker 4: your loan, and it's in my best interest to make
26:53
Speaker 4: sure you're in the best possible position. Yeah, So definitely
26:56
Speaker 4: use a service like a mortgage broker, whether it is
26:59
Speaker 4: us or is somebody else. I think it is just
27:01
Speaker 4: really important to have a professional on your team when
27:03
Speaker 4: you're making arguably the biggest financial decision of your life.
27:06
Speaker 5: M absolutely, and then because you're spaking to a mortgage
27:09
Speaker 5: broke up, there's anything in what Victoria just said. If
27:12
Speaker 5: you say you're speaking to them in person, you can
27:15
Speaker 5: ask as you go.
27:16
Speaker 4: Yeah, just call them and be like, hey, VD, so
27:18
Speaker 4: I don't need to talk to you, and hopefully they
27:20
Speaker 4: know what you're talking about.
27:22
Speaker 2: They won't, but that's okay, that is solid advice.
27:27
Speaker 4: Let's move on because I've got one that I think
27:29
Speaker 4: it's going to be pretty simple from you and I beck, Yeah,
27:31
Speaker 4: are you ready? Well, you received a DM this week
27:33
Speaker 4: and it was frustrating for me. Anyway, let's hear it, Hi,
27:39
Speaker 4: she's on the money. My friend needs advice. A while back,
27:42
Speaker 4: she was invited to an interstate wedding. She knew she'd
27:45
Speaker 4: be thirty five weeks pregnant on the date of the wedding,
27:47
Speaker 4: but as it was a close friend, she got the
27:50
Speaker 4: green light from her OBI and rsvped yes excitedly. She
27:54
Speaker 4: booked her accommodation and had every single intention of going.
27:57
Speaker 4: But fast forward to the current time, it's looking like
28:01
Speaker 4: her due date's going to be pushed up, so her
28:03
Speaker 4: OBEI doesn't really want her traveling she's had to tell
28:06
Speaker 4: the bride she can't make it anymore. It's about a
28:09
Speaker 4: month out from the wedding, so it's not super last minute,
28:11
Speaker 4: and it's as early as she could tell her. The
28:14
Speaker 4: bride's reply has us shook. She's requesting her friend reimburse
28:18
Speaker 4: her for three hundred and seventy five dollars, as she
28:21
Speaker 4: said she can't afford it, and she's already paid for
28:23
Speaker 4: her and it's too late for her to invite somebody else.
28:26
Speaker 4: She said, my friend didn't take her wedding seriously and
28:29
Speaker 4: should if RSVPID know from the beginning, is it really
28:32
Speaker 4: okay to ask guests to pay the cost if circumstances
28:35
Speaker 4: change and they can't attend anymore, should my friend pay?
28:39
Speaker 2: What's the etiquette here?
28:41
Speaker 4: We need other opinions, as we think it's a bit ridiculous.
28:46
Speaker 2: This is really mean? Actually is it mean?
28:48
Speaker 5: It's like, I mean, I totally get it if she
28:53
Speaker 5: kind of like didn't even check. She was just being like, oh,
28:56
Speaker 5: I can definitely do that. Yeah, I'll be super pregnant,
28:58
Speaker 5: but I'm just gonna wing it. I'm just gonna like
29:00
Speaker 5: but she like checked with her obi everything was all good.
29:03
Speaker 5: She had absolutely no control over this whatsoever. I think
29:06
Speaker 5: it's so mean to be like, well, you gotta pay. Also,
29:08
Speaker 5: it's a month out still, like there's plenty of time
29:11
Speaker 5: to be like, literally anyone here, Hey, can you bring
29:14
Speaker 5: a friend? Like literally anyone? You get anyone in a
29:16
Speaker 5: month's time? You know what I mean?
29:18
Speaker 1: Yeah?
29:18
Speaker 2: No, I agree.
29:19
Speaker 4: The other thing I would say is, can we just
29:22
Speaker 4: step back back? If you go to a wedding, how
29:24
Speaker 4: much you're spending on the present? Is it three hundred
29:26
Speaker 4: and seventy five dollars not?
29:29
Speaker 2: Hopefully not? I would hope not. That's a lot of money.
29:33
Speaker 4: Yeah, in my head, Like, there's so much wedding etiquette right, like,
29:36
Speaker 4: and I think it depends on your friendship group and
29:38
Speaker 4: your circumstances and like what you can afford, because to
29:42
Speaker 4: be honest, you don't owe anybody a gift. If you've
29:44
Speaker 4: been invited to their wedding, you go to celebrate their
29:47
Speaker 4: love and that's it.
29:49
Speaker 2: Like, I don't think that people should be expecting gifts.
29:52
Speaker 2: I don't know.
29:52
Speaker 4: I specifically called out at my wedding, and this is
29:55
Speaker 4: just because I felt like we were already in a
29:57
Speaker 4: privileged position. I was like, I don't want gifts. Thanks,
30:00
Speaker 4: but I just think that that's not fair. I already
30:03
Speaker 4: lived with my husband. I don't need you to set
30:05
Speaker 4: up my house. Like all of this is, you know,
30:07
Speaker 4: all good. Thanks though, Yeah, and everyone's different, but like
30:11
Speaker 4: three hundred and seventy five dollars is not what she
30:13
Speaker 4: would have paid anyway, like for the wedding to attend.
30:18
Speaker 4: Like I'm assuming because sometimes you go all right, well,
30:20
Speaker 4: like it's one hundred dollars ahead or whatever for food
30:22
Speaker 4: and beverages, Like I'm just gonna pop that in a
30:24
Speaker 4: you know, wishing World card. Or maybe she was real
30:27
Speaker 4: savvy and was a bit of a she's on the money.
30:29
Speaker 4: I went down to like DFO and bought really beautiful
30:32
Speaker 4: photo frame or like did some art for her herself,
30:34
Speaker 4: and like sure that was the gift. Yeah, Like I
30:37
Speaker 4: don't know, there's just a lot going on here for
30:39
Speaker 4: me because obviously at thirty five weeks when I was pregnant,
30:44
Speaker 4: I could do a lot of things. I did have
30:46
Speaker 4: a lot of complications, which meant that every day I
30:48
Speaker 4: had to check my blood pressure and that would then
30:50
Speaker 4: dictate what I could do that day. So if my
30:52
Speaker 4: blood pressure was good, great, you can go to Taylor Swift, Victoria,
30:56
Speaker 4: I went to Taylor Swift and partied my butt off
30:59
Speaker 4: at thirty eight tweeks pregnant. Like, you can do it,
31:01
Speaker 4: I promise, but you've got to, you know, know yourself
31:04
Speaker 4: if your obstetrician has said absolutely not sorry, but you
31:08
Speaker 4: just can't do it. Yeah, Like you're putting your baby
31:11
Speaker 4: at risk, exactly. So that's complicated to begin with. But
31:14
Speaker 4: then for her friend to invoice her with a month's notice.
31:18
Speaker 4: Please don't get me wrong, but you're confirming menu items,
31:21
Speaker 4: you're confirming head count as somebody who's gotten married are
31:24
Speaker 4: two weeks before.
31:26
Speaker 2: Yes, So like I think that's enough notice.
31:29
Speaker 4: Yeah, So I would be like, also, is this not
31:32
Speaker 4: one of the things that you allocate for? Like I
31:35
Speaker 4: remember planning our wedding and going cool. You know, I
31:37
Speaker 4: think we had one hundred and twenty two people at
31:40
Speaker 4: our wedding. Beck. I just knew that on the day,
31:43
Speaker 4: one hundred and twenty two people is a lot of people.
31:45
Speaker 4: Something for someone is going to go wrong and they
31:47
Speaker 4: might not be able to attend. That's a cost I
31:49
Speaker 4: just have to cover. If you can't afford to cover
31:52
Speaker 4: one or two people who can't attend.
31:55
Speaker 2: Why are you spending so much on the wedding to
31:57
Speaker 2: begin with?
31:57
Speaker 4: Are you financially putting yourself out? And we need think
32:00
Speaker 4: about this, Yes, I don't know. I just feel like
32:02
Speaker 4: if it's so much money that you can't afford it
32:06
Speaker 4: to not be reimbursed, your wedding could have been put
32:09
Speaker 4: off for a bit.
32:10
Speaker 5: Longer, yeah, or just like you don't have to spend
32:12
Speaker 5: that much, you know what I mean? But also like
32:15
Speaker 5: she's already paid for accommodation and everything.
32:17
Speaker 2: Like I just feel like this poor.
32:19
Speaker 4: Person, she's probably out for accommodation in a deposit or whatnot.
32:23
Speaker 4: And then if you think about it, like three hundred
32:25
Speaker 4: and seventy five dollars, that's more money than her like
32:28
Speaker 4: food and beverage surely, yeah, who's paying.
32:31
Speaker 2: Three hundred and seventy five dollars?
32:32
Speaker 1: Yeah?
32:33
Speaker 2: What are you getting for?
32:34
Speaker 4: Like? And I just again, I don't want to make
32:36
Speaker 4: this all about me, but I had a pretty expensive
32:38
Speaker 4: wedding back It didn't cost me three hundred and seventy
32:40
Speaker 4: five dollars ahead for just the food and the bridge
32:42
Speaker 4: and the seat at the table. Don't get me wrong,
32:44
Speaker 4: Like I'm sure that once we calculated out decorations and
32:48
Speaker 4: venue and all of that, but like, you're already going
32:50
Speaker 4: to be paying those overheads irrespective of whether Becketten's or not.
32:54
Speaker 2: Yeah, so, like, what's the deal? That's so true? Yeah,
32:58
Speaker 2: I don't know.
32:59
Speaker 5: Objectively, No, in this situation, absolutely not, But yeah, I think.
33:03
Speaker 2: So how do you have that conversation? Though?
33:05
Speaker 4: Like that's awkward, So let's make the community answer. Yeah, okay, Yes,
33:10
Speaker 4: I was like, you don't have to do this. We
33:12
Speaker 4: asked the community. We said, let's talk wedding etiquette. What
33:14
Speaker 4: do you think is okay and what isn't okay to
33:16
Speaker 4: do in this situation? So lots of diverse responses, as always,
33:20
Speaker 4: which is one of my favorite things. Both people knew
33:23
Speaker 4: the potential risks of not being able to attend. It's
33:26
Speaker 4: out of the friend's control. But isn't it nice that
33:29
Speaker 4: her friend tried her hardest to be there to begin with?
33:32
Speaker 6: Yeah?
33:32
Speaker 2: I agree.
33:33
Speaker 4: The next is if I was canceling for a different reason,
33:36
Speaker 4: I'd expect to pay, but not in this case. Someone said,
33:40
Speaker 4: all couples need to factor in that these things can
33:42
Speaker 4: happen at their wedding life happens, it's not your guest's fault.
33:46
Speaker 4: Someone else said she replied yes with the info she
33:49
Speaker 4: had at the time. It's not like she was being malicious.
33:52
Speaker 4: The bride needs to get over it. M hmm.
33:55
Speaker 2: The next is if canceling was a.
33:56
Speaker 4: Big deal, they should have made that really clear earlier
33:59
Speaker 4: on that it wouldn't be acceptable.
34:01
Speaker 2: It's a good point.
34:02
Speaker 4: Also, if someone said v by the way, I know you'
34:05
Speaker 4: virus vp'd yes to my wedding, but it's a really
34:07
Speaker 4: big deal. If you counsel later like I'm going to
34:10
Speaker 4: charge you, I'm going to do this, I'm going to
34:11
Speaker 4: do that, I'd be like better RSVP. No, now there,
34:14
Speaker 4: it's just in case, Like, it's just better for me
34:16
Speaker 4: not to be in this situation like wild. Someone said,
34:20
Speaker 4: my partner offered to pay for his place when he
34:22
Speaker 4: had to cancel it the last minute.
34:24
Speaker 2: A month is not last minute.
34:26
Speaker 4: Yes, you know what if I was canceling my friend's
34:29
Speaker 4: wedding last minute and being like I can't come anymore,
34:31
Speaker 4: I would offer, but I would also assume that my
34:34
Speaker 4: friend would probably decline that offer.
34:37
Speaker 2: I think it all gets lumped in together. Yeah, I
34:40
Speaker 2: don't know. I don't know what's right or wrong.
34:43
Speaker 1: Here.
34:43
Speaker 4: Someone said, the friend handled it great. The bride is
34:46
Speaker 4: being ridiculous. The bride could invite someone else. She has
34:49
Speaker 4: plenty of time.
34:50
Speaker 2: Back to your plenty of time. It's a month. Yeah,
34:53
Speaker 2: it's a month. Seriously, And like.
34:55
Speaker 4: With weddings, I don't know how big her wedding is.
34:59
Speaker 4: Let's pretend she invited absolutely every single human that she knew.
35:03
Speaker 4: In that case, big wedding that cost shouldn't be as
35:07
Speaker 4: big as you're making it out to be. Or if
35:09
Speaker 4: you're real savage and had to cull last minute, Hey, beck,
35:12
Speaker 4: I know you didn't make the cart, but a spot
35:15
Speaker 4: has popped up and.
35:16
Speaker 2: You are the person I thought of. That's still really
35:19
Speaker 2: nice exactly.
35:20
Speaker 5: Or there's going to be at least one person at
35:22
Speaker 5: least who's like, I actually don't know anyone this wedding.
35:25
Speaker 5: I'd love to bring a plus one, so there's someone
35:27
Speaker 5: there that's dying for a plus one.
35:29
Speaker 2: Someone said, what is good notice?
35:31
Speaker 4: Then if a month isn't enough, Yeah, exactly, Like how
35:34
Speaker 4: much notice do I have to give people for stuff?
35:37
Speaker 4: Someone said, pregnant friends should not be reimbursing. She has
35:39
Speaker 4: a child on the way. She does not need that
35:41
Speaker 4: stress and she tried her hardest. Someone else said the
35:44
Speaker 4: brightest spent the money. Regardless of whether that guest comes
35:47
Speaker 4: or not. All she's losing is a friend.
35:49
Speaker 2: Yeah.
35:50
Speaker 4: I think that's a good place to leave it. We
35:52
Speaker 4: also surveyed you guys, so normal comments, but these are
35:55
Speaker 4: the questions Beck that we asked the community. We said,
35:58
Speaker 4: would you ask guests to pay if they canceled their
36:00
Speaker 4: attendance to your wedding close to the date. Sixty seven
36:04
Speaker 4: percent said definitely, not, thirty percent said it really depends
36:08
Speaker 4: on how close to the date it was, and two
36:10
Speaker 4: percent said yeah, I would. So it's the minority of
36:12
Speaker 4: people who think that you owe. Yeah, definitely, I would.
36:16
Speaker 2: Deal with it.
36:16
Speaker 4: However, you feel most comfortable if that means that you
36:20
Speaker 4: don't pay. If that means that you do pay, I
36:22
Speaker 4: don't know. I find that really ridiculous as well. And
36:25
Speaker 4: to be honest, as someone who has had a wedding
36:27
Speaker 4: and completely understands finances, the wedding was my choice, and
36:31
Speaker 4: I knew that there would be some kind of you know,
36:34
Speaker 4: outcome that meant I'd be losing money in some way,
36:36
Speaker 4: shape or form on my wedding. Whether that was things
36:38
Speaker 4: I purchased that I didn't use on the date, or
36:40
Speaker 4: people not turning up or people breaking something, or you know,
36:44
Speaker 4: there's like lots of things that could happen that you know,
36:47
Speaker 4: financially impact you. And I think when you're planning a wedding,
36:50
Speaker 4: you need to plan for these things. And it's not
36:52
Speaker 4: on your friend who's literally about to pop to cough
36:56
Speaker 4: up three hundred and seventy five dollars.
36:58
Speaker 5: I completely agree, it's really meant to ask for that
37:00
Speaker 5: even but yeah, absolutely answer it, or you know, go
37:03
Speaker 5: back to your friend in a way it's more comfortable
37:05
Speaker 5: and just communicate. It's actually always our amplies. Communication is key,
37:08
Speaker 5: But do not pay that three hundred and seventy five dollars.
37:10
Speaker 2: Oh bexx advice. All right, we'll leave it there.
37:12
Speaker 4: Have a good week, guys, and we'll see you right
37:14
Speaker 4: and early on Monday for money diaries.
37:17
Speaker 2: Bye, guys.
37:25
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