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FRIDAY DRINKS: So Over Unpaid Overtime! · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
0:04
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
0:14
Speaker 1: of which this podcast is recorded on a wondery country,
0:18
Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.
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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
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Speaker 1: the storytelling of you to make a difference for today
0:31
Speaker 1: and lasting impact for tomorrow.
0:33
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 Them the podcast for
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Speaker 4: millennials who want financial freedom.
1:03
Speaker 2: Today is Friday, which means it.
1:05
Speaker 4: Is time to sit back with Jess and I with
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Speaker 4: maybe a bevy in hand, to unpack our favorite moments
1:09
Speaker 4: of the week, and of course to celebrate you how
1:13
Speaker 4: She's on the Money community. As always, we're going to
1:15
Speaker 4: be sharing our money tips and tricks.
1:17
Speaker 2: We're going to talk about our favorite money.
1:19
Speaker 4: Wins, and we're going to be discussing what's making news
1:21
Speaker 4: in the finance world. And we're going to be helping
1:24
Speaker 4: to answer a juicy juicy money question, which this week
1:27
Speaker 4: is about where the best place is to keep a
1:30
Speaker 4: large sum of money. But first it is time to
1:33
Speaker 4: recap the week that was, and I'm going to start
1:35
Speaker 4: with our money diary for Monday. Miss Jesskrichi, which this
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Speaker 4: week's money tarist. What would I say? Just she flawed me.
1:41
Speaker 4: She was incredible, as all of our diarists are, but
1:45
Speaker 4: she essentially landed her dream job and realized it wasn't
1:47
Speaker 4: her dream job, like it was just not what she
1:50
Speaker 4: wanted to be doing, and she had a lot going
1:53
Speaker 4: on like so much so at the same time as
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Speaker 4: realizing that her dream job wasn't her dream job, basically
2:00
Speaker 4: having crippling anxiety and finding herself crying on the floor
2:02
Speaker 4: most nights, she found out that her sixteen year old
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Speaker 4: dog was really unwell and after a year and a
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Speaker 4: half of vet bills that added up to more than
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Speaker 4: twenty thousand dollars, Jess her pooch passed away, which was
2:15
Speaker 4: really sad. But while that was happening, her dad's cancer
2:18
Speaker 4: returned and he was given a really short time to
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Speaker 4: live and he passed away in July of last year.
2:24
Speaker 4: But putting all of her job and stuff on hold,
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Speaker 4: she was able to go and spend a whole heap
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Speaker 4: of time with her dad, which was really really beautiful,
2:30
Speaker 4: and she got some amazing memories with him. And obviously
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Speaker 4: that wouldn't have been possible if she'd stayed in the
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Speaker 4: job and stayed committed, because it was literally interstate. So
2:39
Speaker 4: it was just such a story where you're like, wow,
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Speaker 4: like that's such a process and so much emotional trauma
2:44
Speaker 4: going on at the same time. But then to also
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Speaker 4: see how she was leaving her values at the same
2:49
Speaker 4: time as going through a traumatic time, like, yes, her
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Speaker 4: dad was really struggling and her dog had passed away
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Speaker 4: and it was really really awful.
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Speaker 5: But she was also like, do you.
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Speaker 4: Know what I got to prioritize, you know, spending time
3:00
Speaker 4: with my family and moving back home and doing these
3:02
Speaker 4: things that really were of value to me. And now
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Speaker 4: she works in her real dream job, which is a
3:07
Speaker 4: complete pivot from where she was, which is a not
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Speaker 4: for profit job where she does earn more, but she
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Speaker 4: says her cup is more full, and I just think,
3:14
Speaker 4: how good are values? Like it makes me so happy
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Speaker 4: that our community is finding their feet not.
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Speaker 2: Just oh, I'm really rich, Like that doesn't matter.
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Speaker 4: Honestly, it's so much more than money, and I just, yeah,
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Speaker 4: I really liked this because I think a lot of
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Speaker 4: people would be able to resonate with just the anxiety part,
3:31
Speaker 4: or even the dog or even a parent being unwell,
3:34
Speaker 4: and just she was a beautiful human and I want
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Speaker 4: to be.
3:36
Speaker 2: Her best friend.
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Speaker 5: Chesss Oh we love a happy ending. How exciting. I'm
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Speaker 5: so happy for her.
3:41
Speaker 4: Yeah, Well, moving on from that, because that was beautiful,
3:44
Speaker 4: but also our deep dive was good. We were helping
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Speaker 4: around some festive topics, Jessica your favorite.
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Speaker 2: What were we talking about this week?
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Speaker 5: So this week we tackled navigating social and financial anxiety
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Speaker 5: around Christmas time, which we know statistically that people's mental
3:59
Speaker 5: health tends to take a bit of a downturn at
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Speaker 5: this time of year.
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Speaker 2: Even mine does.
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Speaker 4: And I've got no reason, but yeah, I just feel
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Speaker 4: like it's the overwhelm at this period of year, and
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Speaker 4: you're just.
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Speaker 5: Like, look, yes, so much, right, so much going on.
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Speaker 5: I think for people, the financial burden is really heavy.
4:14
Speaker 5: On top of that, people who already have maybe poor
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Speaker 5: relationships with family or friends, or people who are feeling
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Speaker 5: isolated might really feel like that's heightened at this time
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Speaker 5: of year because there's that narrative around spend time with
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Speaker 5: your family, do this, do that, and not everybody has
4:28
Speaker 5: that same experience, and that can be really tough for
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Speaker 5: people keeping up with the joneses, getting the best persons family.
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Speaker 5: There are so many things that can stress people out,
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Speaker 5: and so we really wanted to talk about what those
4:38
Speaker 5: things look like, some coping mechanisms that you might be
4:40
Speaker 5: able to use, and just kind of really hopefully reaffirming
4:44
Speaker 5: for people that as much as I am the biggest
4:47
Speaker 5: fan of this time of year, it is also just
4:50
Speaker 5: another day, you know, in the calendar of life, like
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Speaker 5: another day is going to come, and we don't want
4:55
Speaker 5: people to be putting themselves in that position where they're
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Speaker 5: stressing themselves out over something that ultimately, in the scheme
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Speaker 5: of things, it doesn't it doesn't matter.
5:03
Speaker 4: And I was thinking about this the other day because
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Speaker 4: as you know, I also I love Christmas.
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Speaker 2: I can't get on board your.
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Speaker 4: Habalween love and passion, but I will get on your
5:11
Speaker 4: festive train. I was just thinking about it the other day,
5:15
Speaker 4: like Christmas doesn't matter to some people other days of
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Speaker 4: the year do though, like some people all about birthdays,
5:20
Speaker 4: you know what some people all about Valentine's Day. If
5:22
Speaker 4: you're just Kiki, you're about every single day of every
5:24
Speaker 4: single year that has every single kind of festival.
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Speaker 2: Can you dress up for it?
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Speaker 4: Jess is in exactly like, but it's really interesting seeing
5:32
Speaker 4: people's values play out. And I don't think there's anything
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Speaker 4: wrong with just going I don't really do anything Christmas or.
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Speaker 5: I celebrate Honika.
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Speaker 2: Yeah, it's fine.
5:40
Speaker 4: Like there's so many things that just it doesn't matter.
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Speaker 4: And I think there's so much social pressure to have
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Speaker 4: the best day ever on Christmas Day. And I was
5:47
Speaker 4: talking to one of my girlfriends and all of her
5:49
Speaker 4: family is into state, and she's like, oh, we're not
5:51
Speaker 4: going into state.
5:52
Speaker 2: This year ended up being too hard.
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Speaker 4: Like her parents are divorced, so it was going to
5:56
Speaker 4: be like on two ends of the spectrum, like either
5:58
Speaker 4: she went with her mum or she went their dad,
6:00
Speaker 4: and then everyone was doing different things, like one was
6:02
Speaker 4: going to breakfast and then lunch, and she just was like,
6:05
Speaker 4: I'm not flying all the way there to go for
6:07
Speaker 4: a lunch. That then everyone has to be out by
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Speaker 4: two to get to this other thing because there was
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Speaker 4: driving involved. She's like, so, I think I'm just hoping
6:13
Speaker 4: for a hot day on Christmas Day and I'll just
6:15
Speaker 4: go to the beach or something and read a new book.
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Speaker 2: And I was like, how good is that?
6:19
Speaker 4: So I just think, let's celebrate having a day where
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Speaker 4: you put yourself first, and let's celebrate having a day
6:24
Speaker 4: where if it's just too.
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Speaker 2: Much, you do get to opt out. It's your day.
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Speaker 4: If mentally you're just like, I don't even want to
6:30
Speaker 4: go see these people, don't Yeah, don't absolutely it would
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Speaker 4: go to Christmas with a friend, do it. I've invited
6:37
Speaker 4: so many of my friends that I know are going
6:39
Speaker 4: to be orphans on Christmas is what we've been calling him.
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Speaker 2: Why don't you come over to mine? My mam will
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Speaker 2: love it. Yeah, Mom will be.
6:44
Speaker 4: Like sick more children to feed, Like she's gonna adore it.
6:47
Speaker 4: But I just think that it's so dated when you
6:50
Speaker 4: talk about the traditions of Christmas, because the nuclear family,
6:53
Speaker 4: I would just say, is stand at this point.
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Speaker 5: Yeah, it's shifted and it's changed. So hopefully a lot
6:57
Speaker 5: of people listen to that episode and fell a little
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Speaker 5: bit reaffirmed in the decisions that they're making. Or felt
7:02
Speaker 5: a little bit more comforted by it because we felt
7:04
Speaker 5: like it was a really important thing to touch on, because,
7:07
Speaker 5: as you said, we've been feeling it a little bit,
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Speaker 5: and we have no doubt that other people have been as.
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Speaker 4: Well, one hundred percent. So we hope you have a
7:13
Speaker 4: good day regardless of what you are doing. And if
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Speaker 4: you don't have a good day, there's tomorrow. But let's
7:17
Speaker 4: get onto our budget direct money wins and confessions from
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Speaker 4: this week, Miss Jess Garci, what are you bringing to
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Speaker 4: the table for us?
7:23
Speaker 5: All right?
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Speaker 2: So are they all festive?
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Speaker 5: No, they're not.
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Speaker 2: Come on, and you've let yourself down.
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Speaker 5: That was a rookie mistake by me. But I do
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Speaker 5: have some good ones. So I'm going to start off
7:32
Speaker 5: with Courtney, who has a couple of small money wins
7:34
Speaker 5: for us. She said, Number one, I found an old
7:36
Speaker 5: Mikey card that had expired three years ago. I rang
7:39
Speaker 5: up and I got the balance that was on the
7:41
Speaker 5: card refund it. Oh what, I don't even know. That
7:44
Speaker 5: was a thing literally me too.
7:45
Speaker 4: Hot tip though, you can register your Mikey's, and I
7:48
Speaker 4: recommend this as a gal who used to always lose
7:51
Speaker 4: her Mikeys, and thus the money on the Mikey if
7:54
Speaker 4: you register them. If you lose the card, you can
7:56
Speaker 4: just cancel the card and transfer the money to a
7:58
Speaker 4: new one.
7:58
Speaker 5: Jess, Oh, that's a good tip. Well, she said. She
8:01
Speaker 5: used the money from her refund to pick up a
8:03
Speaker 5: ticket to the She's on the Money International well Perth event,
8:07
Speaker 5: which we haven't even spoken about.
8:09
Speaker 4: Oh my gosh, no, I'm so excited. We released what
8:11
Speaker 4: was it, like two weeks ago? We released the tickets
8:13
Speaker 4: to the She's on the Money International Women's Day events
8:16
Speaker 4: and I am so excited because we just haven't been
8:20
Speaker 4: able to do it in the way that we did.
8:22
Speaker 4: Like last year was our first and like I think
8:24
Speaker 4: people assume because we are a big podcast.
8:26
Speaker 2: That sounds so funny to say, but when we're a.
8:27
Speaker 4: Big podcast, they're like, oh, they must have so much money,
8:30
Speaker 4: Like why an't they coming everywhere? It's like we're actually
8:32
Speaker 4: a little small business and we have a lot of
8:34
Speaker 4: expenses because we have a big team, and like, I'm
8:36
Speaker 4: so grateful to be able to pay it. But like
8:39
Speaker 4: last year we could only do Sydney and Melbourne and
8:41
Speaker 4: it was beautiful, But now what are we doing Jess?
8:44
Speaker 5: Sydney Melbourne Brisbane and Perth.
8:46
Speaker 2: We're going to see our Perth friends.
8:48
Speaker 4: And I feel like that was the one thing on
8:51
Speaker 4: International Women's Day last year. I had so many messages
8:53
Speaker 4: from so many people being like, hey, next year, do
8:56
Speaker 4: you think you could come to Perth? Like no one
8:57
Speaker 4: was angry. Everyone was just so sweet and so clol
9:00
Speaker 4: and I was like, of course, Like I'll try so hard,
9:02
Speaker 4: but obviously Perth is probably going to be like, let's
9:05
Speaker 4: be honest, sissus sheese on money, we can talk about
9:07
Speaker 4: the financials. It's going to be our most expensive city
9:09
Speaker 4: to go to because we have to get our.
9:11
Speaker 2: Whole team over there.
9:12
Speaker 4: We have to ship all of out because we do
9:14
Speaker 4: gift bags, obviously, we have to ship everything over to
9:17
Speaker 4: that side of the country. We have to get all
9:20
Speaker 4: of our audio recording equipment. We have to get everything
9:23
Speaker 4: to the other side of the country. We then have
9:25
Speaker 4: to pay for flats and accommodation, and that's going to
9:27
Speaker 4: be more than just like flying to Sydney for the day,
9:30
Speaker 4: which is what we did last time. I'm so excited
9:32
Speaker 4: to pay for all of these. Yeah, but how good
9:35
Speaker 4: is it that we're now at a point in our business?
9:37
Speaker 2: Yes, Perth gets included.
9:39
Speaker 5: I know we've doubled the number of cities, and we're
9:40
Speaker 5: starting messages from people being like, come to camera, come
9:42
Speaker 5: to Adelaide. We love to we try, we're doing our
9:45
Speaker 5: best and so hopefully this year, you know, if Perth
9:48
Speaker 5: is really successful, it'll set us up for the year
9:50
Speaker 5: after or maybe for another event later in the year
9:52
Speaker 5: to get to my places. We would love to be
9:54
Speaker 5: everywhere if we could. But for the meantime, we're so
9:57
Speaker 5: excited to be going twice as many cities as we
9:59
Speaker 5: did like Lush. Yeah, so Courtney, we will see you
10:01
Speaker 5: in person.
10:02
Speaker 2: I'm so excited.
10:03
Speaker 1: Oh.
10:03
Speaker 4: I have so many other ideas as well, like I
10:05
Speaker 4: want to do a workshop tour. I want to do
10:06
Speaker 4: like other podcast tours like but like, let's not talk
10:09
Speaker 4: about that now because I could go on and on
10:10
Speaker 4: about it. But I think twenty twenty three is going
10:13
Speaker 4: to be a very exciting year.
10:14
Speaker 5: Jess I think so as well. But let me tell
10:16
Speaker 5: you my next money win, which comes from Jessica great Name.
10:19
Speaker 2: Ten out of ten.
10:19
Speaker 5: She said, I had an urgent plumbing issue where both
10:22
Speaker 5: toilets bottom inlet valves went at once. Don't know what
10:25
Speaker 5: that means.
10:26
Speaker 2: I don't know what that means, but it sounds expensive, disastrous.
10:28
Speaker 5: Late night plumber call out one hundred and fifty dollars
10:31
Speaker 5: he quoted eighteen hundred dollars for parts and installation for toilets.
10:36
Speaker 4: For a toilet, I'm going to Bunnings and buying a
10:37
Speaker 4: new one myself.
10:38
Speaker 2: I will do it.
10:39
Speaker 4: Well.
10:39
Speaker 5: Well, wow, Jessica said, not today, Satan. She bought the
10:42
Speaker 5: parts from Bunnings for forty seven dollars and self installed.
10:45
Speaker 5: Total cost one hundred and ninety seven dollars, saving nearly
10:48
Speaker 5: sixteen hundred.
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Speaker 2: Do you know what that's embarrassing for that plumber?
10:52
Speaker 4: Well, yeah, you tried to take advantage of that poor
10:54
Speaker 4: girl who you thought didn't know what.
10:56
Speaker 2: She was talking about. She just trotted down to Bunnings
10:59
Speaker 2: and was like, I'm a dot.
11:00
Speaker 1: Yeah.
11:01
Speaker 5: That much money you get a queen. The markup is absurd.
11:04
Speaker 5: Next win I've got today comes from Aaron, who said
11:06
Speaker 5: money win. I used my shop back balance to pay
11:09
Speaker 5: for my annual car service, and I was.
11:11
Speaker 2: Like, what are you doing, mar.
11:13
Speaker 4: Oh my gosh, talking about shop back balances, jess The
11:16
Speaker 4: other day I redid my computer. Long story short, I
11:19
Speaker 4: had to uninstall Chrome and reinstall it, and none of
11:21
Speaker 4: my extensions were there, so I had to redownload the
11:24
Speaker 4: shop back extension. But that means you have to like
11:26
Speaker 4: go on the website and login anyway. Really easy. Making
11:28
Speaker 4: it sound more complicated than I promise, it's really easy.
11:31
Speaker 4: I looked at my shop back balance. Guse how much
11:33
Speaker 4: I have?
11:33
Speaker 5: Jess, how much?
11:34
Speaker 2: Two hundred and eighty dollars stop, I'm rich.
11:37
Speaker 5: That's a that's.
11:38
Speaker 4: Money I got back that I am now absolutely spending
11:41
Speaker 4: on Lulu Lemon leggings.
11:42
Speaker 5: Oh my god. Okay, you do you think.
11:43
Speaker 2: I'm going to save that for Christmas?
11:45
Speaker 5: No, save it for me as you should treat yourself, queen.
11:49
Speaker 5: My next money win comes from Katie, who said she
11:51
Speaker 5: got her first paying client for her new photography business
11:55
Speaker 5: and they upgraded and bought the full gallery. I am
11:58
Speaker 5: unbelievably excited and proud of myself.
12:00
Speaker 2: I turned great Angel.
12:01
Speaker 5: That's for you, Katie. That's so exciting.
12:03
Speaker 2: Oh my gosh.
12:04
Speaker 4: That makes me so excited because I'm hoping in twenty
12:07
Speaker 4: twenty three we bring back the business Bible. I just
12:09
Speaker 4: want to have more small business conversations. Yeah, I feel
12:12
Speaker 4: like this community needs more love and I've been a
12:15
Speaker 4: bit busy recently, but business Bible, she's coming back.
12:18
Speaker 2: My loves.
12:19
Speaker 5: We see you small business side hustlers, and we have
12:21
Speaker 5: got you. Next win comes from Emily, who says, long
12:24
Speaker 5: story short, I caught up my car insurance and I
12:26
Speaker 5: legally changed my name. I had a terrible experience with
12:29
Speaker 5: the person on the phone. I had a really big cry,
12:32
Speaker 5: both on and off the phone. But then I took
12:34
Speaker 5: a deep breath and reminded myself that I am a
12:36
Speaker 5: boss queen.
12:37
Speaker 2: Yes you are.
12:38
Speaker 5: I don't know anybody money for a service that I'm
12:40
Speaker 5: not happy with. So I got a quote from RACQ
12:43
Speaker 5: with the exact same details as the prior insurance, paid
12:46
Speaker 5: it out right and saved myself seven hundred dollars a year. Sorry, what, queen, Yeah,
12:50
Speaker 5: that is boss queen behavior.
12:51
Speaker 2: She's started.
12:52
Speaker 5: No, she was not wrong, and then.
12:54
Speaker 2: You're allowed to cry. But then we get up and.
12:56
Speaker 5: We fix it. Yeah, and you save yourself seven hundred
12:58
Speaker 5: dollars in the process, And that is a win if
12:59
Speaker 5: I've ever heard one. My very last money win for
13:02
Speaker 5: today comes from Crystal, who says, I joined Cherseas a
13:05
Speaker 5: year ago and have consistently put money in every single payday,
13:08
Speaker 5: no matter what else I had going on for the entire.
13:11
Speaker 4: Year, I saw that, and I think that's so special.
13:13
Speaker 4: Good on you, crist is so hard to commit to
13:15
Speaker 4: an investment plan because sometimes you're just like, oh, that
13:18
Speaker 4: money could go to something else, because it's so hard
13:20
Speaker 4: to see the bigger picture.
13:21
Speaker 2: But like future you, she's so.
13:23
Speaker 5: Proud and we are proud of you too. Good on you,
13:25
Speaker 5: one hundred percent.
13:26
Speaker 4: Well Jess, as always, it has been great celebrating some
13:29
Speaker 4: of your budget direct money wins.
13:30
Speaker 2: Budget Direct winner.
13:31
Speaker 4: Of cans does Insurer of the Year odd twenty twenty
13:34
Speaker 4: two Budget Direct Insurance solved.
13:42
Speaker 5: All right, guys, today I want to chat all about
13:44
Speaker 5: an article I read recently talking about overtime, which I
13:48
Speaker 5: know is a bit of a contentious topic, but some
13:50
Speaker 5: research has been done which showed that underpaid overtime is
13:54
Speaker 5: costing Australians ninety two billion dollars a year billion billions.
14:00
Speaker 5: So Australians are working the equivalent of six extra full
14:04
Speaker 5: time weeks a year in unpaid overtime, equating to over
14:07
Speaker 5: eight thousand dollars in lost wages for the average worker,
14:10
Speaker 5: leading to that total of ninety two billion dollars overall.
14:13
Speaker 5: The research was done by the Australian Institute. Its surveyed
14:17
Speaker 5: over one thousand workers and it shows that the average
14:20
Speaker 5: worker worked four point three hours of unpaid overtime a
14:23
Speaker 5: week on average, which doesn't sound like a lot. I
14:26
Speaker 5: suppose if you go, oh, four hours a week, you know,
14:28
Speaker 5: if it's twenty minutes a day, it's happened to the
14:31
Speaker 5: best of us and you kind of just don't notice
14:32
Speaker 5: the time disappearing. But obviously when you look at those
14:36
Speaker 5: bigger numbers, it's adding up really significantly, and the outcome
14:39
Speaker 5: there is a lot of lost cash for workers. Industries
14:43
Speaker 5: such as agriculture and miners worked the largest amount of
14:47
Speaker 5: unpaid overtime and average of five point eight hours a week,
14:50
Speaker 5: and managers worked the most unpaid overtime of five point
14:53
Speaker 5: seven hours a week.
14:54
Speaker 4: I'm not surprised by that, No, neither am I It's
14:57
Speaker 4: really sad though. I just feel like we should be
14:59
Speaker 4: getting paid for the work that we're doing, Like, why
15:01
Speaker 4: is it so hard?
15:02
Speaker 2: Yess?
15:03
Speaker 5: Well, yeah, most participants said that they've performed over time
15:06
Speaker 5: seventy one percent of them, which again doesn't surprise me.
15:08
Speaker 5: Almost half of those who have done so say they
15:11
Speaker 5: do it regularly, and I thought it was interesting to
15:13
Speaker 5: talk about. You know, there's a few things I think
15:16
Speaker 5: missing in terms of information from this research. But at
15:20
Speaker 5: what point do we go enough is enough?
15:22
Speaker 4: How do you even have that conversation though? And Jess,
15:25
Speaker 4: you and I were talking about this when we were
15:27
Speaker 4: saying earlier before recording the episode, like, oh, what are
15:29
Speaker 4: we going to talk about today? And I said, Oh,
15:31
Speaker 4: I think this is a really good conversation to have.
15:33
Speaker 4: And you know, like example, a job like yours, your
15:36
Speaker 4: salary and way journer, and I hope I'm not overstepping
15:39
Speaker 4: the mark by sharing the information in your employment contract
15:42
Speaker 4: are with one point ten million people, but in your
15:45
Speaker 4: contract it says and reasonable time to get the job done.
15:49
Speaker 4: But I feel like that's a reasonable inclusion because sometimes
15:53
Speaker 4: we're really busy and sometimes I'm like, ah, yes, just
15:56
Speaker 4: take the afternoon or you know, we we're quite flexible.
15:59
Speaker 2: But then I look back at our histories.
16:01
Speaker 4: Do you remember when we both used to work in
16:03
Speaker 4: retail and we have had this conversation before. So I
16:07
Speaker 4: worked at the shoe store, Jess used to work at
16:09
Speaker 4: a clothing store. Both of them were relatively well known
16:12
Speaker 4: and Jess, what did you used to get in trouble
16:14
Speaker 4: for or they'd be like, oh, don't I jess to
16:15
Speaker 4: do that.
16:16
Speaker 5: Oh. They'd ask everyone to come in ten minutes early
16:19
Speaker 5: to their shift to like get familiar with the.
16:21
Speaker 4: Stores if you've never been there before and hadn't worked
16:24
Speaker 4: there for the last three years.
16:25
Speaker 5: Yeah, like, oh the VM's changing the week or whatever.
16:26
Speaker 5: The expectation is that you're here ten minutes before your shift.
16:29
Speaker 5: We stuff put away, and you do a walk around
16:31
Speaker 5: and familiarize yourself with everything. And I'd say, are you
16:33
Speaker 5: gonna pay me for those ten minutes? And they would
16:35
Speaker 5: say no, and I'd say, no problems, I'll see you
16:37
Speaker 5: on the dot of my starting time, ready to work,
16:39
Speaker 5: because maady to work.
16:40
Speaker 4: Then absolutely. I used to get the oh can you
16:43
Speaker 4: just stay back like and close. So remember our store
16:46
Speaker 4: worked on Chapel Street, so it was quite busy, and
16:49
Speaker 4: our store would close at six pm, and that meant
16:52
Speaker 4: that I was only getting paid till six pm. But
16:55
Speaker 4: on like a Saturday, six pm on Chapel Street is
16:58
Speaker 4: pretty busy, like and for those of you playing along
17:00
Speaker 4: at home, Chapel Street is a very big shopping strip
17:03
Speaker 4: here in Melbourne and it would close at six pm
17:05
Speaker 4: and then for us to you know, revm the store
17:08
Speaker 4: clean up and you know, do cash up and all
17:11
Speaker 4: of that. After the doors were locked, we would be
17:13
Speaker 4: there for a minimum of like half an hour forty minutes.
17:16
Speaker 4: And we brought that up in team meetings so many
17:18
Speaker 4: times because I was like, hey, like, you know, if
17:20
Speaker 4: we close the door at six, like, it's rude to
17:22
Speaker 4: start cashing up before, you know, when there's customers in
17:26
Speaker 4: the store, Like, we can't do that, we can't close
17:28
Speaker 4: the door ten minutes early or whatever.
17:30
Speaker 2: And they'd be like, oh, yep, that's part of your job.
17:32
Speaker 4: And I'd be like, okay, but if I'm expected to
17:33
Speaker 4: be here till six thirty every single night and that's
17:36
Speaker 4: a consistent expectation because that's the way this works, shouldn't
17:39
Speaker 4: I be paid for it? And they were so offended
17:41
Speaker 4: that I'd asked, Yeah. They also used to have pizza
17:44
Speaker 4: parties at eight pm on like Thursday.
17:46
Speaker 5: Oh my god, a staff meeting.
17:47
Speaker 4: That's mandatory that you have to be out and I'm
17:49
Speaker 4: not gonna be paid, but they did pizza.
17:52
Speaker 5: I Actually I don't think i've put it out yet.
17:54
Speaker 5: But I found a bunch of tiktoks on this topic
17:56
Speaker 5: because retail at Christmas really do be trying it on
17:59
Speaker 5: and I'm not here for And I was always that
18:00
Speaker 5: person who knew my rights and would be like no, sir.
18:03
Speaker 2: So I can see how.
18:04
Speaker 4: These like billion dollars of unpaid over time at least,
18:07
Speaker 4: because even I copped it when I was at UNI
18:10
Speaker 4: working in retail, and like, I loved my job in retail.
18:13
Speaker 4: I was so good at it, Like I love talking
18:16
Speaker 4: to people. I mean half the time I wasn't even
18:18
Speaker 4: selling product. To'd be like, what are you up to today? Oh?
18:20
Speaker 2: Yeah, did you get a smoothie? Like, what's up anyway?
18:22
Speaker 4: I used to have so much fun, but it just
18:25
Speaker 4: it would absolutely take the mickey. I remember it got
18:28
Speaker 4: to a point where they were asking us to come
18:29
Speaker 4: in half an hour early because they didn't want people
18:32
Speaker 4: to be late. I'm like, I get that you don't
18:34
Speaker 4: want us to be late, Like that's something that you can,
18:36
Speaker 4: you know, discipline us for if we are consistently late,
18:39
Speaker 4: but like, I'm not coming in half an hour early
18:41
Speaker 4: to stand out the back half an hour before my shift.
18:44
Speaker 5: Thirty eight percent of workers in the survey said that
18:46
Speaker 5: working overtime was expected in their workplace, and I feel
18:49
Speaker 5: like it's becoming more and more the standard, particularly as
18:52
Speaker 5: after COVID. You know, we've rolled into a little bit
18:56
Speaker 5: more flexible working, which works in favor in some ways,
18:59
Speaker 5: but I think it's also shifted the expectation a little
19:02
Speaker 5: bit as well. So for someone like me, when we're
19:05
Speaker 5: not in the office, I save anywhere from three to
19:08
Speaker 5: four hours of driving time because trackic is crazy and
19:11
Speaker 5: I live quite far out of the city. But for me,
19:13
Speaker 5: I go, oh, great, Like if I'm not spending that
19:15
Speaker 5: time in the car and I've got something that I
19:16
Speaker 5: need to do, of course, I'm so happy to work
19:19
Speaker 5: through it, because I am also the kind of person
19:21
Speaker 5: who just gets stressed out by knowing there's something that's
19:24
Speaker 5: sitting there. But I think that's very different from the
19:27
Speaker 5: culture that is developed within certain industries. I know marketing
19:30
Speaker 5: is really bad for it, because I have a few
19:32
Speaker 5: friends who work in that industry where if your work
19:36
Speaker 5: finishes at five o'clock and it's five h five and
19:38
Speaker 5: you get up and you start packing up your things,
19:40
Speaker 5: people go, oh, where are you going?
19:42
Speaker 4: I'm going home because you're not paying me anymore in
19:45
Speaker 4: saying that, I see that passion in my husband. See,
19:49
Speaker 4: he works in digital and analytics, and he gets up
19:53
Speaker 4: and like he always starts early. He's probably online from
19:55
Speaker 4: just before eight every morning, but then he has a
19:58
Speaker 4: team overseas and they don't come online until like three
20:02
Speaker 4: or four pm. I think it is so he'll work
20:04
Speaker 4: through till eight pm most nights at a minimum, and
20:07
Speaker 4: then be answering emails on his phone while we're watching
20:10
Speaker 4: Netflix at night. And like it's fine because I know
20:12
Speaker 4: he loves his job and like he manages these people
20:14
Speaker 4: and adores it. But I'm like, I know that's not builty,
20:16
Speaker 4: and that's so much extra over time. Yeah, that isn't
20:19
Speaker 4: catered for. And it's fine because you know, he's quite
20:22
Speaker 4: a independent strong man who knows how to, you know,
20:26
Speaker 4: define his own boundaries. But I just think we need
20:29
Speaker 4: to consider the impact on work life balance, Like, yeah,
20:32
Speaker 4: you might love your job, but like at what cost,
20:35
Speaker 4: and if it's costing us billions of dollars, maybe we
20:38
Speaker 4: do need to be paid over time.
20:39
Speaker 5: Yeah, so for people who are finding themselves doing that,
20:42
Speaker 5: particularly people in industries where overtime is something that's meant
20:45
Speaker 5: to be paid like nurses, and you know, our laborers
20:49
Speaker 5: and people who do have an hourly overtime rate that
20:52
Speaker 5: they're meant to be paid, tracking that, raising it with
20:55
Speaker 5: your manager where appropriate, And if you're on a salary
20:58
Speaker 5: and it's built in and you feel like you're doing
21:00
Speaker 5: overwhelming amount of overtime, keep a track of it because
21:03
Speaker 5: I think you lose those minutes and you go, oh,
21:05
Speaker 5: it's only half an hour here, an hour there, But
21:08
Speaker 5: then you add it up and you go, oh, in
21:09
Speaker 5: the last six months, I've done, wow, six hundred hours
21:12
Speaker 5: of overtime.
21:13
Speaker 4: But you need to be communicating that with your boss
21:15
Speaker 4: as well. And you know we've talked about this on
21:18
Speaker 4: the podcast before. I genuinely believe that there's like one
21:21
Speaker 4: of two outcomes, like if Jess, your job isn't able
21:24
Speaker 4: to be done in the thirty eight hours a week
21:25
Speaker 4: that I pay you for, either you're not very productive
21:29
Speaker 4: during that thirty eight hours a week and maybe you
21:31
Speaker 4: do need to stay back a little bit because maybe
21:33
Speaker 4: you fluffed around and chatted to the team around the
21:35
Speaker 4: water cooler for a little bit too long, or I've
21:39
Speaker 4: over allocated work to you and therefore it's on me
21:41
Speaker 4: as your manager to reassess what that looks like and
21:44
Speaker 4: take some work off you so that you have better
21:46
Speaker 4: work life balance. It's either one of those two things.
21:49
Speaker 4: And if we're not meeting that, like what is it?
21:52
Speaker 4: And I think that, then there's a little bit of
21:54
Speaker 4: a gray area where Jess, you're very guilty of this,
21:57
Speaker 4: and that's being very passionate for your job. So sometimes
21:59
Speaker 4: I'll be all making put you don't. I'll be like, Jess,
22:00
Speaker 4: what are you doing online?
22:01
Speaker 2: It's eight pm.
22:02
Speaker 4: You be like, I just had this idea and I
22:03
Speaker 4: really wanted to document it and I really appreciate it.
22:06
Speaker 4: But it's what is overtime versus what is passion? Like
22:09
Speaker 4: if you are happy to, you know, take on another
22:11
Speaker 4: client and you know that it's going to take extra time,
22:15
Speaker 4: is that overtime or is that you being excited? I
22:17
Speaker 4: think we need to also know how to manage our
22:20
Speaker 4: own boundaries as well, because going, oh, but I've taken
22:23
Speaker 4: on so much extra stuff and then you go to
22:25
Speaker 4: your boss six months from now they're like, well, I
22:27
Speaker 4: didn't ask you to do that. I don't know why
22:29
Speaker 4: you're doing that, and then expecting additional remuneration, like when
22:32
Speaker 4: that's not an expectation of the role.
22:34
Speaker 2: So I don't know.
22:35
Speaker 4: I think that there's a fine line to tread of
22:38
Speaker 4: is this overtime that I'm choosing or is this overtime
22:42
Speaker 4: that you know I actually have to do to continue
22:44
Speaker 4: to be successful in my role. And I think that
22:46
Speaker 4: those two are different things, because if it's overtime that
22:50
Speaker 4: you're choosing because you're just super passionate about your job,
22:52
Speaker 4: I think we need to be a little bit more
22:54
Speaker 4: aware of our own work life balance, which is why, yes,
22:57
Speaker 4: I jumped down your throat so often about it. Make
22:59
Speaker 4: sure that you're looking up yourself, make sure that you
23:01
Speaker 4: know you're walking after your work life balance. And I
23:03
Speaker 4: think most people don't have those conversations because a boss
23:07
Speaker 4: often just wants their employees to work as much as possible.
23:10
Speaker 2: So I don't know.
23:10
Speaker 4: I just from an employer's perspective, I'm like, well, let's
23:14
Speaker 4: work out what this means, because I don't want you
23:16
Speaker 4: doing unpaid over time because I have an appropriately allocated
23:20
Speaker 4: work to you.
23:21
Speaker 2: Like, that's just not fair.
23:22
Speaker 5: Super interesting food for thought. Should we have a listen
23:24
Speaker 5: to today's money dilemma?
23:26
Speaker 2: Of course we should.
23:29
Speaker 4: Hi, there have you got a money dilemma you just
23:31
Speaker 4: can't solve the She's on the Money team is here
23:34
Speaker 4: to help. Every week, we tackle your dilemmas, both big
23:37
Speaker 4: and small, to answer your most burning money.
23:40
Speaker 2: Career and life questions.
23:41
Speaker 4: To get involved, simply head to our website and leave
23:44
Speaker 4: us a short voice recording and you might just find
23:46
Speaker 4: yourself on the show. Now, let's take a listen to
23:49
Speaker 4: this week's money dilemma.
23:52
Speaker 6: Hi, Victoria, it's Fatalana. Quick question. I've only got forty
23:55
Speaker 6: five seconds. So basically, I've got an account for my
23:57
Speaker 6: daughter and I opened it when she was seven months.
24:00
Speaker 6: It's purely an account that my mum actually transfers ten
24:03
Speaker 6: k into it each year for her tax purposes, what
24:08
Speaker 6: the accountant taught her to do, and she's transferred that
24:11
Speaker 6: for basically Miller's education. So merely can't touch that until
24:15
Speaker 6: she's about twelve years old. We can, however, Look, it's
24:19
Speaker 6: probably not best sitting in a bank account with you know,
24:22
Speaker 6: inflation and everything. Is it best to put in a
24:24
Speaker 6: term deposit or invested into something else so that money
24:28
Speaker 6: can sort of build up a little bit until she
24:30
Speaker 6: is at a right age.
24:32
Speaker 4: Jess, I feel like this is a really interesting one
24:33
Speaker 4: and I'm glad that people are talking about it because
24:36
Speaker 4: when it comes to the inflation rate in Australia, I
24:39
Speaker 4: don't mean to scare you, but four days ago it
24:41
Speaker 4: was published that our current inflation rate is seven point
24:45
Speaker 4: three percent. Consider me scared. Don't be very scared. But
24:49
Speaker 4: our savings accounts aren't returning that. So if you're getting
24:53
Speaker 4: like let's call it one percent, which is currently very
24:55
Speaker 4: very good in this current economic environment, if you are
24:58
Speaker 4: getting one percent on a savings account, every single year
25:01
Speaker 4: that you have that money in that account, you are
25:04
Speaker 4: going backwards by six point three percent because you're only
25:07
Speaker 4: making one percent.
25:08
Speaker 2: Does that make sense?
25:09
Speaker 4: So I think it's really important to consider what you're
25:11
Speaker 4: missing out on by not investing. And if we look
25:14
Speaker 4: at the share market over the last thirty years, we
25:17
Speaker 4: know that it has returned eleven percent, and that's just
25:20
Speaker 4: the Australian share market, not the share market as a
25:23
Speaker 4: broad figure. And over the long term, the share market,
25:26
Speaker 4: you know, is a very reliable returner. However, not in
25:30
Speaker 4: the short term, so you wouldn't invest for one or
25:32
Speaker 4: two years. But if you've got a daughter and you've
25:34
Speaker 4: got twelve years or something to go investing might be
25:37
Speaker 4: something that you consider as an option for not only
25:40
Speaker 4: creating wealth, but maintaining the wealth that you are putting aside.
25:44
Speaker 4: Like if you're putting money aside and you want it
25:45
Speaker 4: to go further, like, that's a great option. I would
25:48
Speaker 4: be looking at something well diversified, something that is relatively
25:52
Speaker 4: low touch, because it is for a child. You're not
25:54
Speaker 4: going to go out and pick individual shares and you know,
25:56
Speaker 4: make a punt. So talking to a financial advisor or
25:59
Speaker 4: talking to some one on six park or even just
26:01
Speaker 4: going on chazas and picking something that makes sense for
26:04
Speaker 4: you might be a really good idea. And I get
26:07
Speaker 4: so many questions about this topic in my DMS each
26:09
Speaker 4: and every single week because people are like, oh, should
26:12
Speaker 4: I put it in a term deposit? Well, I mean,
26:14
Speaker 4: if you can find a term deposit that makes sense
26:16
Speaker 4: for you and your financial circumstances, please also let me know,
26:20
Speaker 4: because I haven't seen a term deposit recently that's returning
26:22
Speaker 4: more than one percent. So it really really depends on
26:25
Speaker 4: your financial circumstances and whether it's a good idea. But
26:28
Speaker 4: weigh those up, do a little risk profile. If you
26:30
Speaker 4: haven't listened to our podcast on ascertaining your risk profile.
26:34
Speaker 4: Go and do that. If you haven't listened to our
26:36
Speaker 4: share episodes. We did a mini series a little while
26:38
Speaker 4: ago on how to invest and what an ETF is,
26:41
Speaker 4: and what to manage fund is and what it means
26:43
Speaker 4: to directly invest. Have a listened to all of those things.
26:45
Speaker 4: Educate yourself and I feel like that might put you
26:48
Speaker 4: on the right track to create success because investing for
26:51
Speaker 4: a child is not much different to investing for retirement.
26:56
Speaker 4: And when I say that, you don't need a fancy structure,
26:59
Speaker 4: you don't need to go in set up a trust,
27:00
Speaker 4: you don't need to do a lot of things. I
27:02
Speaker 4: mean you can, but you don't need to do these things.
27:04
Speaker 4: You actually just need to look at the long term
27:07
Speaker 4: outcomes and a long term strategy because when investing for kids, thankfully,
27:12
Speaker 4: we're not talking about one or two years. We're usually
27:13
Speaker 4: talking about ten or twenty years, which is a really
27:16
Speaker 4: good thing in the investment world.
27:18
Speaker 1: Yeah.
27:18
Speaker 5: And while you're diving into the shoes and the money archives,
27:20
Speaker 5: go back to our episode on setting up investments for
27:22
Speaker 5: kids espec good one.
27:23
Speaker 2: Maybe I should have mentioned that you're here.
27:25
Speaker 5: It'll give you a little bit more info and a
27:27
Speaker 5: little bit more insight because we cover it in depth.
27:29
Speaker 5: It's a full standalone episode all about it. But I
27:32
Speaker 5: feel like that's about it for today.
27:33
Speaker 2: That is all we've got time for today. So we'll
27:35
Speaker 2: see you next week, Angels. Have a good weekend.
27:37
Speaker 5: Bye.
27:45
Speaker 4: The advice shared on She's on the Money is general
27:47
Speaker 4: in nature and does not consider your individual circumstances. She's
27:51
Speaker 4: on the Money exists purely for educational purposes and should
27:55
Speaker 4: not be relied upon to make an investment or financial decision.
27:58
Speaker 4: If you do choose to buy a financial product, read
28:01
Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards
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