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Get Rich (Quick Scheme) Or Die Tryin' · She's On The Money

• 0:00
  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
• 0:08
  Speaker 1: we get started on She's on the Money podcast, I
• 0:11
  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
• 0:22
  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 1: and the storytelling of you to make a difference for
• 0:30
  Speaker 1: today and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it. She's on the Money. She's on
• 0:37
  Speaker 2: the Money.
• 0:57
  Speaker 3: Hello, and welcome to She's on the Muney, the podcast
• 1:00
  Speaker 3: for millennials.
• 1:01
  Speaker 2: Who want financial freedom.
• 1:03
  Speaker 3: Today, my friends, it is Friday, which means it is
• 1:05
  Speaker 3: time to get the team back together and celebrate you
• 1:08
  Speaker 3: our incredible She's on the Money community today.
• 1:11
  Speaker 2: Mister Griacy, as always, is going to be back sharing
• 1:14
  Speaker 2: her favorite money wins.
• 1:15
  Speaker 3: Beck is going to be sharing her broke Broke tips.
• 1:18
  Speaker 3: We're going to be helping to answer a juicy money dilemma.
• 1:20
  Speaker 3: Get this, which is this week all about whether you
• 1:23
  Speaker 3: should take money out of your super to buy a
• 1:25
  Speaker 3: property or not, and we're unpacking something very juicy that
• 1:28
  Speaker 3: you slid into our DMS about this week. We're chatting
• 1:31
  Speaker 3: about a partner who constantly is looking for the next
• 1:34
  Speaker 3: get rich scheme and what that means for you.
• 1:37
  Speaker 2: Guys. How have your weeks been.
• 1:39
  Speaker 3: I'm so excited for this episode because if you're telling
• 1:42
  Speaker 3: me there is a juicy question at the end of like, oh,
• 1:45
  Speaker 3: your partner wants to join a get rich quick scheme?
• 1:48
  Speaker 2: I'm sorry. We'd have so many fights. How do you deal?
• 1:51
  Speaker 2: You know, like if my husband came home with that,
• 1:53
  Speaker 2: I'd be like, sir.
• 1:53
  Speaker 4: Sit down, juicy, juicy Jess. You go first, tell us
• 1:58
  Speaker 4: about your week.
• 1:59
  Speaker 5: Is it good? It's been summy. We'd love a short
• 2:01
  Speaker 5: week as well.
• 2:02
  Speaker 2: So good.
• 2:03
  Speaker 5: The weather's been lovely, and it is just nice. A
• 2:06
  Speaker 5: four day week just feels so good, doesn't act especially.
• 2:09
  Speaker 3: It's the Tuesday, because now it feels like a three
• 2:11
  Speaker 3: day week, but it wasn't.
• 2:12
  Speaker 2: It was four day weeks.
• 2:14
  Speaker 5: Thrilled about that obviously, not to the Cup. I saw
• 2:17
  Speaker 5: someone actually say that we should instead of having a
• 2:19
  Speaker 5: public holiday for the Cup, we should do it for
• 2:22
  Speaker 5: the f one because They're like, it's still a right.
• 2:24
  Speaker 5: You could use the same taglines, you could use the
• 2:26
  Speaker 5: same merch. Still a race that stops the nation, it's
• 2:29
  Speaker 5: also an event that goes on over multiple days with
• 2:31
  Speaker 5: like one big one.
• 2:34
  Speaker 4: Is such a good idea.
• 2:36
  Speaker 5: I can't claim that someone said it, I think on
• 2:37
  Speaker 5: TikTok or Instagram, but I just thought it was very clever,
• 2:40
  Speaker 5: and as someone who really doesn't care either way about
• 2:43
  Speaker 5: either kind of race, why not I say.
• 2:45
  Speaker 6: I like that.
• 2:46
  Speaker 2: I like that.
• 2:46
  Speaker 3: I actually wrote, so you guys know, I have a
• 2:48
  Speaker 3: weekly money column in The Age and the Sydney Morning Herald,
• 2:51
  Speaker 3: which is honestly my pride enjoy Like I get a
• 2:53
  Speaker 3: whole page in two papers every single week, so cool,
• 2:57
  Speaker 3: durant that, Like, I just get to go.
• 3:00
  Speaker 2: On and on about my own like, oh, my own interests.
• 3:04
  Speaker 3: So this week I wrote, I get this. They did
• 3:06
  Speaker 3: change the title. When you write for a news publication,
• 3:09
  Speaker 3: they're better at obviously understanding what the.
• 3:11
  Speaker 2: Clickbank titles and stuff are going to be better.
• 3:13
  Speaker 3: I called this article the interest rate that Stops the
• 3:16
  Speaker 3: Nation because obviously we found out on Tuesday that the
• 3:20
  Speaker 3: interest rates have increased, and we'll, you know, have a
• 3:22
  Speaker 3: conversation about that later, I am sure, But I wrote
• 3:25
  Speaker 3: this whole article about obviously the looming events of I
• 3:29
  Speaker 3: wrote it on Sunday. Interest rate went up on Tuesday.
• 3:32
  Speaker 3: Could have been really awkward because I predicted in that
• 3:34
  Speaker 3: article that it would go up. I imagine if it
• 3:36
  Speaker 3: hadn't then be like, oh, this is still look so much.
• 3:40
  Speaker 3: But anyway, I was writing about it and I thought,
• 3:42
  Speaker 3: you know, I'll do a whole heap of research into
• 3:44
  Speaker 3: the Melbourne Cup because obviously it's not something that I know,
• 3:47
  Speaker 3: attend or support. But did you know In twenty twenty two,
• 3:51
  Speaker 3: the Melbourne Cup carnival contributed a staggering four hundred and
• 3:55
  Speaker 3: twenty two point one million dollars in growth economic benefit
• 4:01
  Speaker 3: just to the.
• 4:01
  Speaker 2: State of Victoria.
• 4:02
  Speaker 5: Oh my god.
• 4:03
  Speaker 3: And a study by market research company I E R
• 4:07
  Speaker 3: revealed that over the past decade, the Melbourne Cup carnival
• 4:10
  Speaker 3: has injected more than three point six billion dollars into
• 4:15
  Speaker 3: Victoria's economy, which is much more than the Australian Open,
• 4:19
  Speaker 3: which we would think was really really big. But over
• 4:21
  Speaker 3: the past ten years they've only contributed one million.
• 4:24
  Speaker 5: Wow.
• 4:24
  Speaker 3: Oh did you also know? Because obviously not everyone in
• 4:27
  Speaker 3: the she's on the money. Community is going to pick
• 4:29
  Speaker 3: up the Age or the Sydney Morning Herald on their
• 4:31
  Speaker 3: Sunday morning.
• 4:32
  Speaker 2: I don't know, unrelatable. I do every week and you
• 4:35
  Speaker 2: should too.
• 4:35
  Speaker 3: But Australians on average spend nearly one hundred and eighty
• 4:40
  Speaker 3: dollars each on the Melbourne Cup, which includes obviously like
• 4:44
  Speaker 3: betting and their celebrations and stuff. But this to me
• 4:48
  Speaker 3: terrifying because let's look at the other statistic that says
• 4:51
  Speaker 3: one in three Australians this is a Combank statistic, not
• 4:54
  Speaker 3: my own. One in three Australians can't come up with
• 4:57
  Speaker 3: five hundred dollars in an emergency if they needed to. Average,
• 5:00
  Speaker 3: we're spending one hundred and eighty bucks every year on
• 5:03
  Speaker 3: a horse race.
• 5:04
  Speaker 4: Silly.
• 5:05
  Speaker 2: Well, I agree with you, it should.
• 5:06
  Speaker 3: Change, But like I just think that there's too much
• 5:09
  Speaker 3: money going through a race.
• 5:11
  Speaker 2: Where horses are murdered. But I don't different.
• 5:13
  Speaker 5: Make the people run, get on the dress up like
• 5:15
  Speaker 5: a horse, make around the track. I think that's what
• 5:17
  Speaker 5: we should do do.
• 5:18
  Speaker 3: I saw someone can textualize it really well the other day.
• 5:21
  Speaker 3: Because you know a lot of people, obviously, this conversation
• 5:24
  Speaker 3: is going to get real spicy.
• 5:24
  Speaker 2: Can't wait for my DMS later today. But someone was like,
• 5:28
  Speaker 2: but the horses get treated so nicely during Near.
• 5:30
  Speaker 5: Jessica, I don't, that's like fattening them up.
• 5:33
  Speaker 3: Do you know who got treated really nicely? The tributes
• 5:36
  Speaker 3: on the Hunger Games before they were sent out?
• 5:38
  Speaker 4: Literally, Yeah, I'm.
• 5:41
  Speaker 5: So excited for that new movie.
• 5:42
  Speaker 2: By the way, move on, let's move on that car.
• 5:46
  Speaker 5: Ah.
• 5:47
  Speaker 4: Well, my week's been really good.
• 5:49
  Speaker 1: Yeah.
• 5:49
  Speaker 4: I love I love love love this weather.
• 5:52
  Speaker 6: Also, some is a funny time for me because I
• 5:55
  Speaker 6: am not super girly and that doesn't mean anything really,
• 5:59
  Speaker 6: but's so super Yeah. But like I'm always like, what
• 6:01
  Speaker 6: do I wear in the summer? I don't know, but.
• 6:03
  Speaker 4: It's still like a really nice Yeah. I guess I'll
• 6:05
  Speaker 4: pop on a par of shorts, linen pants. I could
• 6:07
  Speaker 4: see being a linen pant.
• 6:10
  Speaker 3: Can you please get like a pair of like they
• 6:12
  Speaker 3: called dungarees overalls? I don't know if I'll try, but
• 6:17
  Speaker 3: that vibe is so like relaxed overalls, getting like blue.
• 6:20
  Speaker 2: You need like a black like denim wash pair cool clips.
• 6:25
  Speaker 4: Okay, it looks so cute.
• 6:27
  Speaker 6: If we if you could dress me up for the
• 6:28
  Speaker 6: summer that would be really nice.
• 6:30
  Speaker 3: I mean, we have completely different fashion senses, but like
• 6:33
  Speaker 3: I think I understand your vibe.
• 6:35
  Speaker 4: I think you, I think you think I.
• 6:37
  Speaker 2: Think I do. But that with Doc Martins, you look
• 6:39
  Speaker 2: so cute.
• 6:40
  Speaker 6: Oh yes, you know she's sheep.
• 6:43
  Speaker 3: Are you going to do this?
• 6:44
  Speaker 4: Amazing?
• 6:45
  Speaker 6: Thank you so much for in a dance. But yeah, no,
• 6:47
  Speaker 6: it's been really really good week. And yeah, short weeks.
• 6:49
  Speaker 6: Sorry for everyone that's not in Victoria that doesn't have
• 6:52
  Speaker 6: a short weeks.
• 6:53
  Speaker 2: Unlucky, unlucky. Can't have it.
• 6:56
  Speaker 6: All, can't have it all, but know something about four
• 6:58
  Speaker 6: day weeks feels right. Hopefully the norm in the future.
• 7:01
  Speaker 2: Oh no, sorry, no pressure on your bosses.
• 7:06
  Speaker 1: Good.
• 7:07
  Speaker 2: Oh my week was beautiful.
• 7:08
  Speaker 3: I spent the weekend in Tasmania, which is my favorite
• 7:11
  Speaker 3: place in the entire world. I went to my girlfriend
• 7:13
  Speaker 3: Georgia and her now husband Jack's wedding, which was stunning, lovely,
• 7:18
  Speaker 3: just down in the south of Tasmania, which was very
• 7:20
  Speaker 3: very cool, and then I came back and had a
• 7:22
  Speaker 3: bit of work to do on Monday, and then on
• 7:24
  Speaker 3: Tuesday I went to a party to celebrate one of
• 7:28
  Speaker 3: my friends becoming an Australian citizen, which was really cute.
• 7:32
  Speaker 3: We sat around her pool, which is very fancy. It's
• 7:35
  Speaker 3: not that fancy, promise, it sounds fancier than it is.
• 7:38
  Speaker 3: And I drank fake champagne for the afternoon. It just
• 7:40
  Speaker 3: felt like a really good day.
• 7:41
  Speaker 4: That's so nice.
• 7:42
  Speaker 3: Yes, really really really good week thus far. But let's
• 7:45
  Speaker 3: get into the show. What do you reckon? Because this
• 7:48
  Speaker 3: week I feel like Jess. There were so many good
• 7:50
  Speaker 3: money wins in the thread. I don't know if you
• 7:52
  Speaker 3: saw me this week, but I was like in their
• 7:54
  Speaker 3: replying to everybody, being.
• 7:55
  Speaker 2: Like, oh my god, this is so cool. So I
• 7:58
  Speaker 2: want to know what have you pulled out?
• 7:59
  Speaker 5: All right? My first one this week comes from Shorna,
• 8:01
  Speaker 5: who said money win kind of. I checked my credit
• 8:04
  Speaker 5: rating for the first time ever and was pleasantly surprised.
• 8:07
  Speaker 5: It was very good. I made some big money mistakes
• 8:09
  Speaker 5: in my UNI days and I've been fearing the worst.
• 8:13
  Speaker 5: So there you go.
• 8:13
  Speaker 2: Good for you.
• 8:14
  Speaker 5: If you're scared getting there, just check it. The worst
• 8:16
  Speaker 5: that can happen is you go, Okay, we've got a
• 8:18
  Speaker 5: little work to do.
• 8:18
  Speaker 6: Yeah.
• 8:19
  Speaker 4: I love that. That gives me hope as well.
• 8:21
  Speaker 5: I know you've said before you're like I can't look,
• 8:24
  Speaker 5: but yeah, good for you. Next, I've got a money
• 8:27
  Speaker 5: in from Laura, who said huge money loss, but a
• 8:29
  Speaker 5: massive life win. Thanks to the amazing girls at Zella,
• 8:32
  Speaker 5: I bought my first property and I get the keys
• 8:34
  Speaker 5: this week. No, that's the best handing over all. The
• 8:37
  Speaker 5: funds is terrifying, but I'm so grateful.
• 8:40
  Speaker 3: But they would have had you back. Obviously I'm biased.
• 8:42
  Speaker 3: The team is Zella Money. If you want a mortgage,
• 8:44
  Speaker 3: They're the only team you should be using. Absolutely crass,
• 8:47
  Speaker 3: I mean it's my team.
• 8:48
  Speaker 2: Sorry, obviously I'm going to back him, of course.
• 8:51
  Speaker 5: Next we've got a money in from Madison, who said
• 8:53
  Speaker 5: money win and slight power move. My small one's first
• 8:57
  Speaker 5: birthday is coming up and we are having a very
• 9:00
  Speaker 5: hungry one year old, like the very hungry caterpillar samed party.
• 9:04
  Speaker 5: I don't want to hire an entire soft play or
• 9:07
  Speaker 5: sensory setup for the kids, so I've been collecting things
• 9:10
  Speaker 5: for cheap on Marketplace and using as much as I
• 9:12
  Speaker 5: can to recycle and make a play area for the kids.
• 9:15
  Speaker 5: Kids parties are ridiculously expensive these days, and I feel
• 9:18
  Speaker 5: like so much of that is due to social media pressure.
• 9:21
  Speaker 5: He's turning one. He doesn't need a catered event and
• 9:23
  Speaker 5: a custom photo shoot area. He needs a bloody rusk
• 9:26
  Speaker 5: stick and a half cooked sprinkler to play. Ye that
• 9:31
  Speaker 5: She's saved around four hundred dollars and the Power movie
• 9:34
  Speaker 5: is now everyone thinks I'm way greener and more eco friendly,
• 9:36
  Speaker 5: and it will hopefully make up for the fact that
• 9:38
  Speaker 5: I'm not a very put together looking mama.
• 9:40
  Speaker 2: Oh no you are. I just put the effort you're
• 9:44
  Speaker 2: putting in for your little bit. Sorry, you are Mum
• 9:46
  Speaker 2: of the Year.
• 9:47
  Speaker 5: Absolutely.
• 9:48
  Speaker 3: I just think I hate that social media pressure. I
• 9:51
  Speaker 3: think I wasn't last week that I said, you know, kids' birthdays.
• 9:54
  Speaker 3: I'm sorry, Jess Revet. When you come to my child's
• 9:58
  Speaker 3: first birthday, which they'll be party love a party. There
• 10:01
  Speaker 3: will be a Cole's mud cake and it will be
• 10:03
  Speaker 3: being gifted presents that I found in its own room. Yes,
• 10:07
  Speaker 3: but that's what's gonna happen. They don't know. What you
• 10:10
  Speaker 3: don't know isn't going to hurt you. And you do
• 10:12
  Speaker 3: not need to spend money on a first birthday.
• 10:14
  Speaker 2: No, it's clearly not for the good.
• 10:16
  Speaker 5: They're not going to remember it exactly. Next I've got
• 10:18
  Speaker 5: any money went from Sophia, who said, last week Charesy's
• 10:22
  Speaker 5: posted a story saying they're happy to meet and shout
• 10:24
  Speaker 5: lunch to a small group of people on the Goldie.
• 10:26
  Speaker 5: I signed up and I got invited, and not only
• 10:29
  Speaker 5: did I get a free lunch and some tips on investing,
• 10:31
  Speaker 5: I also got a copy of the Chares's Guide to.
• 10:34
  Speaker 2: Investing hook are real cute too, so that would have
• 10:37
  Speaker 2: been a nice lunch.
• 10:38
  Speaker 5: She did say money loss. I was two minutes past
• 10:40
  Speaker 5: the free parking threshold and had to pay eighteen dollars.
• 10:42
  Speaker 5: Though sad, very sad.
• 10:45
  Speaker 3: You know what, the book's worth more than that, and
• 10:46
  Speaker 3: they paid for lunch. Hit all evens out. But also
• 10:49
  Speaker 3: that's so annoying.
• 10:52
  Speaker 4: That's killer.
• 10:53
  Speaker 5: Next, Crystal said money win. I was looking at buying
• 10:55
  Speaker 5: a TV cabinet from Ikea, which you can choose what doors,
• 10:59
  Speaker 5: what color, it's try to customize it. My toys originally
• 11:02
  Speaker 5: came to one thousand dollars, so I decided not to
• 11:05
  Speaker 5: buy it. Six months later, I bought that exact model
• 11:09
  Speaker 5: from Ikea today for two hundred and ninety nine dollars
• 11:12
  Speaker 5: because it was a customer return and it was already
• 11:15
  Speaker 5: made up from the flat pack.
• 11:16
  Speaker 4: Oh my gosh, Oh how good?
• 11:18
  Speaker 2: That's money?
• 11:19
  Speaker 6: Yeah?
• 11:19
  Speaker 2: So is it just me?
• 11:21
  Speaker 3: Or does AE thousand dollars for a piece of furniture
• 11:24
  Speaker 3: from Ikea.
• 11:25
  Speaker 2: Feel like a lot?
• 11:25
  Speaker 5: It's so much money you can buy it secondhand on
• 11:28
  Speaker 5: Facebook all the time.
• 11:29
  Speaker 3: Yeah, there's yeah, there's no way you'd catch Jessica paying
• 11:32
  Speaker 3: full price.
• 11:34
  Speaker 5: Good. And actually, lastly, I have a personal money. We
• 11:39
  Speaker 5: spoke about this on the podcast I Reckon maybe six
• 11:42
  Speaker 5: months ago, but.
• 11:42
  Speaker 2: I really a memory.
• 11:44
  Speaker 5: I'm pretty good. I realized that while we were in
• 11:48
  Speaker 5: the US, Victoria has launched their Return and Earn scheme,
• 11:52
  Speaker 5: So recycling your bottles and your.
• 11:54
  Speaker 2: Cans and stuff. You have been waiting for this.
• 11:57
  Speaker 5: I've been dying for it, and it's launched and they
• 11:59
  Speaker 5: have an apps you can get. On the app, you
• 12:01
  Speaker 5: can find one knee. I highly recommend doing that because
• 12:03
  Speaker 5: the app also tells you when they're full, because if
• 12:06
  Speaker 5: people return them, you can only put so many in
• 12:08
  Speaker 5: they have to be collected, so you can check it
• 12:10
  Speaker 5: there full or not. But I went through our recycling
• 12:12
  Speaker 5: bin when I saw the I think I saw someone
• 12:15
  Speaker 5: in our community, little Raccoon. I literally through our recycling
• 12:20
  Speaker 5: and even just the amount of can and we haven't
• 12:23
  Speaker 5: hosted a party or anything, like just from drinking like
• 12:25
  Speaker 5: a Pepsi Max or whatever. The amount of cans and
• 12:28
  Speaker 5: moods and addict I am that I pulled out of
• 12:30
  Speaker 5: our recycling meant it was like a whole tub's worth.
• 12:32
  Speaker 5: So that's a whole tub's worth of stuff that's being
• 12:35
  Speaker 5: recycled correctly that I'm getting. I think we got back.
• 12:38
  Speaker 5: It was a small that was like ten bucks or something.
• 12:40
  Speaker 2: But you didn't have before.
• 12:41
  Speaker 5: And that's the thing is I kind of like maybe
• 12:43
  Speaker 5: I can make it a fun challenge where I try
• 12:45
  Speaker 5: and pay for a holiday or something, you know. I mean,
• 12:47
  Speaker 5: I can just stash all the money away because it's
• 12:49
  Speaker 5: free money, like why not. And there's so many of.
• 12:52
  Speaker 2: Them, like you go through spin Guard, your bin, local.
• 12:58
  Speaker 5: Pub, the name.
• 13:02
  Speaker 4: Rubbish off the studio des.
• 13:05
  Speaker 5: But like if you're if money is tight and you're
• 13:06
  Speaker 5: trying to say for something that's really good, I can
• 13:09
  Speaker 5: talk to your friends, talk to your family. Everyone be
• 13:11
  Speaker 5: stoked to have more room in their bin. And it's
• 13:12
  Speaker 5: not like you're going through garbage because it's recycling, so
• 13:14
  Speaker 5: it's all like cardboard. It's like your to you like it.
• 13:17
  Speaker 2: It's great.
• 13:18
  Speaker 3: Jess is known in our office is the like Christmas fairy,
• 13:20
  Speaker 3: like she's the festive fairy.
• 13:21
  Speaker 2: You're now known as the bin.
• 13:22
  Speaker 4: Record like Bin Racer is kind of into it.
• 13:28
  Speaker 2: I like bin raccoons.
• 13:29
  Speaker 6: Yeah, I like that.
• 13:30
  Speaker 5: So you go, if you live in Victoria, get some
• 13:31
  Speaker 5: money back on your bottles.
• 13:32
  Speaker 2: I love that. I think we're all going to have
• 13:35
  Speaker 2: to try it. Free money. We love free money community,
• 13:40
  Speaker 2: not just for Jessica. I think ten out of ten.
• 13:43
  Speaker 3: Do you know what we're going to segue into now,
• 13:45
  Speaker 3: the non fin raccoon at the table.
• 13:49
  Speaker 2: You're welcome. What broke tips have you got for us
• 13:52
  Speaker 2: this week?
• 13:52
  Speaker 1: Actually?
• 13:52
  Speaker 6: I just wanted to share one money when Okay, So
• 13:56
  Speaker 6: the other day I was trying to order dinner on
• 13:58
  Speaker 6: menu log and I was just like, I was in Dremata.
• 14:01
  Speaker 6: Actually I've heard of that place and a wax and dumpling.
• 14:04
  Speaker 4: Love this place. It's so good. So I was ordering.
• 14:08
  Speaker 6: The total came up to one hundred and ten dolls
• 14:09
  Speaker 6: or something, so ordering for me and a friend and
• 14:11
  Speaker 6: we were a bit excessive, and then I was like,
• 14:13
  Speaker 6: I'm just going to call them and do the order online.
• 14:16
  Speaker 4: For pick up. Yeah, the total came to sixty bus
• 14:18
  Speaker 4: No it didn't.
• 14:19
  Speaker 6: No, it didn't so much money the exact same order.
• 14:24
  Speaker 6: And also I guess like they put like a little
• 14:28
  Speaker 6: bit extra on menulogue for these.
• 14:30
  Speaker 5: They pay a huge business, pay a huge fee to
• 14:33
  Speaker 5: be on any of them. Like maybe we'll go about
• 14:35
  Speaker 5: all of that, just mark up to cover the difference.
• 14:38
  Speaker 4: It's it's worth just give them a call.
• 14:39
  Speaker 6: It's really like, of course it's Awkwards old school to
• 14:42
  Speaker 6: like call and have to put your ordery.
• 14:43
  Speaker 2: And now it's not like it.
• 14:44
  Speaker 4: It's kind of wholesome, awesome, absolutely a.
• 14:49
  Speaker 3: Lot of things for Okay, so onto the road tips,
• 14:55
  Speaker 3: all right, I'm ready.
• 14:56
  Speaker 2: What have you got for us?
• 14:57
  Speaker 4: So our first.
• 14:58
  Speaker 6: Break tip comes from Tory, who this is quite a
• 15:01
  Speaker 6: wholesome one also could be useful for Christmas time. So
• 15:04
  Speaker 6: Tori says that when her and her best friend want
• 15:08
  Speaker 6: a cheap, wholesome night, they kind of you know those
• 15:11
  Speaker 6: like you know when you have a candle and the
• 15:12
  Speaker 6: wax kind of spills over, and there's those kind of
• 15:15
  Speaker 6: ugly sometimes beautiful bits of wax that build up on
• 15:19
  Speaker 6: the plate or whatever it's on. Yes, you just grab
• 15:21
  Speaker 6: all those extra bits from those the ugly bits of
• 15:25
  Speaker 6: the candle that just kind of like melt over and
• 15:27
  Speaker 6: you buy like really cheap wicks, or you can use
• 15:31
  Speaker 6: old wicks and create new candles, either with Mason jars
• 15:35
  Speaker 6: so smart or whatever whatever jars you got lying around,
• 15:39
  Speaker 6: maybe pots, whatever.
• 15:39
  Speaker 5: Put them in a candle warmer.
• 15:41
  Speaker 6: Put them in a candle warmer exactly, so you can
• 15:43
  Speaker 6: really repurpose those candle those like little bits of wax
• 15:47
  Speaker 6: that just melt over the top. Also, sometimes they're beautiful,
• 15:50
  Speaker 6: but I'm just gonna just for the sake of this tip,
• 15:52
  Speaker 6: I'm going to call them the ugly pieces of candle.
• 15:55
  Speaker 3: I like that because, to be honest, when you were like, oh,
• 15:57
  Speaker 3: they want to have a like nice night, I was like, wait,
• 15:59
  Speaker 3: where are we going?
• 16:00
  Speaker 2: Are they eating wax? I literally couldn't put two and
• 16:03
  Speaker 2: two together.
• 16:04
  Speaker 6: You can eat wax, so it's quite nice. Like I
• 16:06
  Speaker 6: wouldn't recommend this, but like dipping your fingers into the
• 16:08
  Speaker 6: warm wax, don't do it.
• 16:12
  Speaker 3: I think I actually think that's really smart because do
• 16:14
  Speaker 3: you know what else I've been doing so I have
• 16:16
  Speaker 3: been gifted historically some beautiful candles. Actually, Miss Jessica Ricci
• 16:21
  Speaker 3: got me what brand is it one. Oh yeah, like
• 16:24
  Speaker 3: the team put in. I think it was like for
• 16:26
  Speaker 3: my birthday, they all put in and they bought me
• 16:29
  Speaker 3: this beautiful rose scentered dip teak candle.
• 16:32
  Speaker 2: Lovely obviously it's empty now yeah, sure, five dollars that
• 16:35
  Speaker 2: came out. I bought some soy wax candle. Looks full again.
• 16:40
  Speaker 2: That's so smart. You can buy candles.
• 16:44
  Speaker 6: Yeah, bit of food coloring. It's also nice like arts
• 16:46
  Speaker 6: and craft things. It's a fun afternoon. It's a fun
• 16:48
  Speaker 6: afternoon all round. So my next money tip comes from
• 16:53
  Speaker 6: the moving Mama. I loving Mama, Moving Mama. I'm so sorry,
• 16:57
  Speaker 6: I haven't checked your name. Oh Hannah, Sorry it is Hannah.
• 16:59
  Speaker 2: Hannah from the moving Mama, Moving Mama.
• 17:01
  Speaker 6: Okay, so Hannah says that she says ironng. But I
• 17:04
  Speaker 6: think you can do this with a lot of banks.
• 17:06
  Speaker 6: You can put something on your account where every time
• 17:08
  Speaker 6: you make a purchase, it rounds up to the rounder.
• 17:12
  Speaker 6: Here's five dollars, which is great for like for me,
• 17:15
  Speaker 6: for example, I would just be doing it monthly, like
• 17:18
  Speaker 6: every month. At the end of the month, if I've
• 17:19
  Speaker 6: got like ten twenty bucks left in my roundups, that's
• 17:23
  Speaker 6: going to go toward food for the rest of them.
• 17:25
  Speaker 4: Literally, sure I will run out.
• 17:27
  Speaker 6: Of money, or if you have a little bit more
• 17:29
  Speaker 6: self control, you can use that and just use that
• 17:32
  Speaker 6: to save for Christmas time, or for birth days, or
• 17:35
  Speaker 6: for gifts or whatever.
• 17:35
  Speaker 3: Christmas thing is genius because Christmas is so expensive, but
• 17:40
  Speaker 3: the little things they all add up. I feel like
• 17:42
  Speaker 3: it was only a couple of years ago that even
• 17:44
  Speaker 3: round ups became popular and they were only available with
• 17:47
  Speaker 3: one bank. Now you're right, I think lots of banks
• 17:49
  Speaker 3: off of them, but also our friends at shares E's
• 17:51
  Speaker 3: this is like not a sponsored plug.
• 17:52
  Speaker 2: I just think it's cool.
• 17:54
  Speaker 3: They've recently introduced that to their investing platform, which I
• 17:57
  Speaker 3: think is just it's so good because obviously you're going
• 18:00
  Speaker 3: to use it for groceries and that's really helpful. But
• 18:03
  Speaker 3: like for a lot of people having roundups that then
• 18:06
  Speaker 3: invest like it's a more passive way of investing and
• 18:09
  Speaker 3: you're investing more money money.
• 18:10
  Speaker 2: We exactly when is.
• 18:12
  Speaker 4: That gonna get rich? I love that. I love that,
• 18:15
  Speaker 4: and my.
• 18:15
  Speaker 2: Personal break tip, Oh yes please.
• 18:17
  Speaker 6: So this is something I really enjoy doing. It's probably
• 18:21
  Speaker 6: not gonna be super popular, but what you do, I
• 18:23
  Speaker 6: would say at the start of every pay cycle.
• 18:26
  Speaker 4: Do a full budget and passion.
• 18:29
  Speaker 6: I mean, that's ideal, but do a full subscription, phone plan,
• 18:33
  Speaker 6: gym membership, everything, membership, audit, cleanse, just go through. Even
• 18:38
  Speaker 6: like there will be times where I've gone through my
• 18:40
  Speaker 6: bank account and seen a dollar forty nine from like Apple,
• 18:44
  Speaker 6: and I'm like, what am I paying for with Apple?
• 18:45
  Speaker 5: Like and you don't know, random app, some random app.
• 18:49
  Speaker 3: The other day, it was like, You've paid twenty four
• 18:51
  Speaker 3: ninety nine to Apple And I was like, so what
• 18:53
  Speaker 3: for an app that I subscribed to? And it was
• 18:56
  Speaker 3: an annual app last year or even maybe the year before,
• 18:59
  Speaker 3: who knows, don't.
• 19:00
  Speaker 2: Even use it anymore? And then they charged me for it,
• 19:03
  Speaker 2: and I was like.
• 19:04
  Speaker 6: I got got exactly exactly or even if it's something
• 19:07
  Speaker 6: that you do need you I'm sure you could you
• 19:10
  Speaker 6: can to get like cheap, but somewhere somehow if you're
• 19:13
  Speaker 6: like for example, with Adobe, I don't want to like
• 19:15
  Speaker 6: be name dropping, but also like using these kind of
• 19:18
  Speaker 6: like kind of dodgy. But if you just pretend to cancel,
• 19:21
  Speaker 6: it'll give you options to.
• 19:24
  Speaker 4: Pay way less for the next six.
• 19:27
  Speaker 6: Months, yeah, or year or forever more, or it will
• 19:30
  Speaker 6: be like take six months free, just stay with us.
• 19:33
  Speaker 4: So do that, Try and do that with Like.
• 19:36
  Speaker 3: It's probably not going to be that happy that we're
• 19:38
  Speaker 3: sharing that, but Adobe, we're recommending that you keep the product.
• 19:42
  Speaker 3: At the end of the day with exactly, cancel Adobe
• 19:45
  Speaker 3: because we all need it.
• 19:46
  Speaker 4: We all need it, we actually all need it. But yes,
• 19:49
  Speaker 4: so do a full audit.
• 19:51
  Speaker 6: There might be things that are coming out of your
• 19:52
  Speaker 6: bank account you don't even know about. There might be
• 19:54
  Speaker 6: things that you just don't need anymore. Maybe you want
• 19:57
  Speaker 6: to go for runs and do at home training if
• 20:00
  Speaker 6: you don't want to pay for your gym membership anymore.
• 20:02
  Speaker 4: Just things that you could conceivably go without.
• 20:04
  Speaker 5: Yeah, and you can always get them back to and
• 20:06
  Speaker 5: you can always get them back to get rid of it.
• 20:08
  Speaker 5: Go wow, I really miss that.
• 20:10
  Speaker 4: Yeah, and you.
• 20:11
  Speaker 2: Saved a month worth the fees on that thing exactly.
• 20:14
  Speaker 4: So that's my broke tip.
• 20:16
  Speaker 3: That's a good one. I love that, Thank you being
• 20:18
  Speaker 3: on top of it. I also love to see you
• 20:20
  Speaker 3: being more active in your finances.
• 20:21
  Speaker 2: Thank you.
• 20:22
  Speaker 3: Like it's actually so cool because I know that if
• 20:25
  Speaker 3: we went back a few years, Beck would have been like,
• 20:27
  Speaker 3: absolutely not, We're not opening that we're.
• 20:29
  Speaker 5: Not doing that.
• 20:30
  Speaker 2: I mean true. Yeah, Like old beck is like, who
• 20:33
  Speaker 2: is this new woman? I know he's a changed woman?
• 20:36
  Speaker 4: Who is she? I thank you me? That's very n
• 20:38
  Speaker 4: I love it.
• 20:39
  Speaker 3: All right, Let's go to a really quick break because
• 20:40
  Speaker 3: on the slip side, we're going to talk about a
• 20:42
  Speaker 3: money dilemma. We're talking about taking money out of your
• 20:45
  Speaker 3: superannuation to buy property, and we're also unpacking something a
• 20:48
  Speaker 3: little bit spicy. I keep saying spicy. I need to
• 20:50
  Speaker 3: find a different word. If you guys could slide into
• 20:52
  Speaker 3: my DMS and let me know what is a better
• 20:54
  Speaker 3: word to use than spicy DM. But someone slid into
• 20:58
  Speaker 3: our DMS this week and was asking for some advice
• 21:00
  Speaker 3: about their partner who's consistently looking for the.
• 21:03
  Speaker 2: Next get rich quick scheme.
• 21:05
  Speaker 3: So guys, don't go anywhere because I can't wait to
• 21:07
  Speaker 3: unpack that one.
• 21:13
  Speaker 5: Welcome back, everybody. Let's take a listen to this week's
• 21:15
  Speaker 5: money dilemma.
• 21:18
  Speaker 3: Hi, there, have you got a money dilemma you just
• 21:20
  Speaker 3: can't solve that. She's on the Money Team is here
• 21:23
  Speaker 3: to help. Every week we tackle your dilemmas, both big
• 21:26
  Speaker 3: and small, to answer your most burning.
• 21:28
  Speaker 2: Money career and life questions.
• 21:30
  Speaker 3: To get involved, simply head to our website and leave
• 21:33
  Speaker 3: us a short voice recording and you might just find
• 21:35
  Speaker 3: yourself on the show.
• 21:36
  Speaker 2: Now, let's take a listen to.
• 21:38
  Speaker 3: This week's money dilemma.
• 21:42
  Speaker 2: Hi, she's on the money. I'm thirty one and I
• 21:44
  Speaker 2: have one hundred and sixty ish thousand dollars in super.
• 21:47
  Speaker 3: I've seen on my TikTok advertising for being.
• 21:49
  Speaker 2: A bit to my investment properties with my super.
• 21:52
  Speaker 3: I'm assuming because it's on TikTok it's not a good idea,
• 21:55
  Speaker 3: but would be keen to hear your thoughts.
• 21:57
  Speaker 2: Thanks.
• 21:57
  Speaker 5: This is the primary example of make sure you know
• 21:59
  Speaker 5: where you getting your advice from. True and I'm very
• 22:02
  Speaker 5: proud of you for clocking that and going, oh, maybe
• 22:05
  Speaker 5: not the best advice.
• 22:06
  Speaker 2: Sorry. Can we also like step back?
• 22:08
  Speaker 3: Yeah?
• 22:08
  Speaker 5: You correct?
• 22:09
  Speaker 3: One hundred and sixty thousand dollars in anyone. Maybe the
• 22:12
  Speaker 3: average is forty six thousand dollars at between the age
• 22:16
  Speaker 3: of thirty and thirty four.
• 22:16
  Speaker 4: Yeah, it's amazing.
• 22:17
  Speaker 2: You're very joking me. What are you doing? Where's the magic?
• 22:20
  Speaker 5: Yeah?
• 22:20
  Speaker 4: Well done, Good for you, that's amazing.
• 22:23
  Speaker 2: Sleigh.
• 22:24
  Speaker 3: Jess is going to kill me for continuously saying say
• 22:26
  Speaker 3: that I am making Sleigh happy.
• 22:28
  Speaker 5: You have one per episode. You've used it slay, so
• 22:33
  Speaker 5: you can take you from next week.
• 22:34
  Speaker 2: Do you know what?
• 22:35
  Speaker 3: I get so confused about these things right, because I
• 22:37
  Speaker 3: would have loved next time. Can you send me the
• 22:39
  Speaker 3: link as well so that I can stalk them, because I
• 22:41
  Speaker 3: am so judgy on those things. But I think you're correct.
• 22:44
  Speaker 3: If it's on TikTok, it's probably not a good financial decision.
• 22:48
  Speaker 3: Have you ever seen one of the top fifty financial
• 22:51
  Speaker 3: advisors in the country ever advertise their services via TikTok.
• 22:55
  Speaker 2: It's a great point.
• 22:56
  Speaker 3: No, you haven't, and there's probably a good reason for that.
• 22:59
  Speaker 3: And I mean, please, don't get me wrong. TikTok's advertising
• 23:03
  Speaker 3: is definitely increasing in the types of companies that are
• 23:06
  Speaker 3: engaging with it, Like historically it would be like squishy toys,
• 23:10
  Speaker 3: and it would be you know, clickbait things and get
• 23:12
  Speaker 3: this fancy like XYZ. I do see a lot of quote,
• 23:16
  Speaker 3: legitimate companies advertising on there. But if you're being targeted with, hey,
• 23:21
  Speaker 3: you could make an investment decision via TikTok, I can
• 23:25
  Speaker 3: guarantee that it is probably not the right fit for you.
• 23:28
  Speaker 3: And I say that because they haven't been able to
• 23:30
  Speaker 3: take into consideration your risk profile or what's going on.
• 23:34
  Speaker 3: But further to that, Jessica, how do I feel about
• 23:37
  Speaker 3: using your super funds to buy property?
• 23:40
  Speaker 5: Not a well, because you'd have to correct me if
• 23:42
  Speaker 5: I'm wrong. You'd have to have an SMSF for right.
• 23:45
  Speaker 4: Yes, we'll could I go hate manage.
• 23:47
  Speaker 3: So if you're with Australian super Right, you can't just
• 23:51
  Speaker 3: call them and be like, oh, by the way, I'd
• 23:54
  Speaker 3: really like to.
• 23:56
  Speaker 2: Just buy property in my super fun. They're going to go, yeah,
• 23:58
  Speaker 2: that's not what we do.
• 24:00
  Speaker 3: Ah, that's not going to work, And that's fine. It's
• 24:02
  Speaker 3: not a reflection of whether they are good or about
• 24:04
  Speaker 3: superfund like they are very popular super Fun. However, to
• 24:09
  Speaker 3: buy property inside your superannuation fund, you have to establish
• 24:12
  Speaker 3: what's called a self managed super fund, which is going
• 24:16
  Speaker 3: to one attract a whole heap of fees, thousands of
• 24:18
  Speaker 3: dollars of fees. True, it's going to attract ongoing admin costs.
• 24:23
  Speaker 2: So every single year.
• 24:25
  Speaker 3: If you have a self managed super fund here in Australia,
• 24:27
  Speaker 3: you have to audit it annually.
• 24:29
  Speaker 2: It can't be done by you.
• 24:30
  Speaker 3: By the way, you have to outsource that, so the
• 24:32
  Speaker 3: admin fees can be anywhere between five and ten thousand
• 24:35
  Speaker 3: dollars a year just to have that structure. Not only
• 24:39
  Speaker 3: are you paying for that structure, but also you're more responsible.
• 24:43
  Speaker 2: Yeah, so you're now putting.
• 24:46
  Speaker 3: Your superannuation, which you know, we're just using the example
• 24:49
  Speaker 3: of Old Super. They have a whole investment team that
• 24:52
  Speaker 3: has created a number of well diversified portfolios based on
• 24:56
  Speaker 3: your risk assessment. You're putting all of your eggs in
• 25:00
  Speaker 3: one basket into a property. And arguably, and this is
• 25:05
  Speaker 3: just personal opinion, I suppose, but when I have spoken
• 25:08
  Speaker 3: to people about buying property inside superannuation, it's not often
• 25:12
  Speaker 3: because they're like, oh, well, v I've actually sat down
• 25:15
  Speaker 3: and I've done the calculations on rental yield, and I've
• 25:18
  Speaker 3: worked out, you know, the capital growth in the area
• 25:20
  Speaker 3: that I'm planning on purchasing, and I genuinely look at
• 25:23
  Speaker 3: this and go, this is a really great investment opportunity
• 25:26
  Speaker 3: for me because you know, I'll get ABC and D
• 25:29
  Speaker 3: out and here's my long term plan for the property,
• 25:31
  Speaker 3: whether you keep it for the long term or you
• 25:33
  Speaker 3: dispose of it, or you know, you might develop it
• 25:35
  Speaker 3: and subdivide it whatever.
• 25:36
  Speaker 2: That might look like.
• 25:38
  Speaker 3: Most people that are interested and this is just obviously stereotyping,
• 25:42
  Speaker 3: in buying property inside Super are usually interested in that
• 25:45
  Speaker 3: because they can't buy it outside of Super and really
• 25:48
  Speaker 3: want to be on the property market, right, And I
• 25:50
  Speaker 3: totally get that if you are so committed to getting
• 25:54
  Speaker 3: on the property ladder that you're looking at these options like,
• 25:57
  Speaker 3: I'm proud of you.
• 25:58
  Speaker 2: You're going to get there.
• 25:59
  Speaker 3: But we need to look at how smart that financial
• 26:02
  Speaker 3: decision actually is. Is owning property inside Super an inherently
• 26:06
  Speaker 3: bad thing? No, there are a lot of people that
• 26:08
  Speaker 3: own properties inside Super who make millions, who make a
• 26:11
  Speaker 3: lot of money, who that has been arguably the best
• 26:13
  Speaker 3: financial decision they've ever made. Does it mean that it
• 26:16
  Speaker 3: is the best financial decision for you, Beck? There are
• 26:19
  Speaker 3: also people out there whose best financial decision was buying
• 26:22
  Speaker 3: bitcoin at the right.
• 26:23
  Speaker 2: Time, do you know what I mean?
• 26:25
  Speaker 3: So it has to be relevant to the time and
• 26:28
  Speaker 3: to your financial situation. And if a company is on
• 26:30
  Speaker 3: TikTok promoting that you buy property inside superannuation, I can
• 26:35
  Speaker 3: almost guarantee that they are making money on setting it up,
• 26:40
  Speaker 3: Like setting up the structure for you they'll probably recommend
• 26:42
  Speaker 3: it accountanty're getting a clip back of that amount.
• 26:45
  Speaker 2: They're probably going to recommend.
• 26:46
  Speaker 3: What property you buy because obviously they are investment experts,
• 26:51
  Speaker 3: and they're probably being paid at least five percent of
• 26:54
  Speaker 3: the property purchase price by the developer, because that's usually
• 26:57
  Speaker 3: how these schemes work, and to me, it's just red
• 27:01
  Speaker 3: flag scalore. To be honest, if you have one hundred
• 27:04
  Speaker 3: and sixty thousand dollars in SUPER and you are thirty one,
• 27:07
  Speaker 3: I can almost guarantee that one of the best things
• 27:10
  Speaker 3: you'll ever do is go and speak to a financial advisor. Yes,
• 27:13
  Speaker 3: it will cost you money, it will cost you thousands
• 27:16
  Speaker 3: of dollars. You can pay for your financial advice with
• 27:19
  Speaker 3: the money inside your superannuation, so it's not going to
• 27:22
  Speaker 3: cost you money out of your cash flow today. But
• 27:24
  Speaker 3: you have one hundred and sixty thousand dollars in super,
• 27:26
  Speaker 3: look after that money because that money over the next
• 27:29
  Speaker 3: thirty forty years is going to compound out of control
• 27:32
  Speaker 3: and you are going to be a very very wealthy person.
• 27:35
  Speaker 3: But make sure that money is working as hard as
• 27:37
  Speaker 3: you do for it. And if you're genuinely interested in
• 27:41
  Speaker 3: buying property and maybe inside super. I'm not saying it's
• 27:45
  Speaker 3: the best or worst decision. I am very apprehensive of
• 27:48
  Speaker 3: self managed super funds. I will say I don't have
• 27:51
  Speaker 3: one and I never will have one, And any of
• 27:53
  Speaker 3: my clients historically that had one always had more than
• 27:57
  Speaker 3: two hundred and fifty thousand dollars cash in it to
• 28:00
  Speaker 3: make it justifiable in today's market, I would arguably say
• 28:04
  Speaker 3: you would need more. But go see a financial advisor
• 28:07
  Speaker 3: and they can give you the advice to get into
• 28:09
  Speaker 3: property and have a strategy, an ongoing plan that literally.
• 28:14
  Speaker 2: Puts you in the best possible position.
• 28:16
  Speaker 3: And if you're telling me you have that much in super,
• 28:18
  Speaker 3: I can tell you right now seeing an advisor is
• 28:21
  Speaker 3: a good idea. Yeah, but not one that advertises like
• 28:25
  Speaker 3: that on TikTok just FYI, although there are some really
• 28:28
  Speaker 3: good financial advisors on TikTok now, which makes me so happy.
• 28:32
  Speaker 4: True, true, Yeah, great advice.
• 28:34
  Speaker 2: You got any advice there to beck? Just take these advice.
• 28:38
  Speaker 4: I would take these advice. I guess it is truck.
• 28:40
  Speaker 6: If you'll say that there's like other financial advisors on
• 28:42
  Speaker 6: the next you like who, well.
• 28:44
  Speaker 3: Who do you trust? And that's what I mean. Like
• 28:46
  Speaker 3: if they're advertising you could do this. No good financial
• 28:50
  Speaker 3: advisor on TikTok is ever going to suggest a strategy.
• 28:53
  Speaker 3: If any financial advisor is suggesting a strategy on TikTok,
• 28:57
  Speaker 3: red flag.
• 28:57
  Speaker 5: Technically it's illegal.
• 28:59
  Speaker 3: Oh no, but even technically, like it is point blank
• 29:02
  Speaker 3: illegal and it's actually a breach of their financial services
• 29:04
  Speaker 3: license if they did that, which is why they'll often
• 29:07
  Speaker 3: be like, I can't give personal advice, but let me
• 29:08
  Speaker 3: give you a few situations for example, never give you
• 29:13
  Speaker 3: an exactly Like someone could write into a TikTok, you know,
• 29:16
  Speaker 3: financial advisor and be like, oh, you know the what
• 29:19
  Speaker 3: does it mean to buy a property? And super I
• 29:21
  Speaker 3: can answer that question, but like the is it a
• 29:24
  Speaker 3: good idea for me?
• 29:24
  Speaker 2: Be like, I don't know. I can't tell you.
• 29:26
  Speaker 3: That's very irresponsible anyone who's telling you what to do
• 29:30
  Speaker 3: on TikTok.
• 29:30
  Speaker 6: One out of ten, Yeah, austraining feeling is objectively a
• 29:33
  Speaker 6: good idea.
• 29:34
  Speaker 5: Not yeah, because it's never for everyone, never for everyone.
• 29:37
  Speaker 2: Yeah, great advice.
• 29:38
  Speaker 3: Speaking of never for everyone, we have a DM this
• 29:44
  Speaker 3: week and it's all about get rich quick schemes, which
• 29:47
  Speaker 3: I feel like it's just like really on brand with
• 29:49
  Speaker 3: what our dilemma was, so.
• 29:51
  Speaker 2: Would you like me to read it? Are you ready
• 29:53
  Speaker 2: to break this down?
• 29:53
  Speaker 5: Excited?
• 29:54
  Speaker 6: All right?
• 29:55
  Speaker 2: So here's the DM we got this week.
• 29:57
  Speaker 3: Guys, hey girls, just after some advice on what you
• 30:00
  Speaker 3: would do in my situation. My partner and I are
• 30:02
  Speaker 3: both on six figure incomes and he's talking about getting
• 30:05
  Speaker 3: a joint bank account.
• 30:07
  Speaker 2: Okay.
• 30:08
  Speaker 3: My concern is he's constantly trying new things as a
• 30:12
  Speaker 3: side hustle, and they're not exactly successful. I try to
• 30:16
  Speaker 3: be supportive, but I continue to see large amounts of
• 30:18
  Speaker 3: money getting wasted before he wants to try something else.
• 30:22
  Speaker 3: I'm highly focused for the future, and he's more interested
• 30:25
  Speaker 3: in a get rich quick mentality. I'm worried we won't
• 30:29
  Speaker 3: achieve our goals, so I continue to save well.
• 30:32
  Speaker 2: He uses his income on.
• 30:33
  Speaker 3: These ideas and says we will get the goals, but
• 30:36
  Speaker 3: doesn't save. When an idea doesn't work for him, he'll
• 30:39
  Speaker 3: say he's tired of these failed ideas and we'll focus
• 30:42
  Speaker 3: on saving. Then a week or two later, he's back
• 30:45
  Speaker 3: on these expensive ideas again, and it's a never ending cycle.
• 30:48
  Speaker 2: My friends, what would you do?
• 30:51
  Speaker 6: Hmmm, that's a very tricky one, I guess it's like
• 30:55
  Speaker 6: it's hard because you want to like support their passions.
• 30:58
  Speaker 4: But also this is really I suppose taking It.
• 31:04
  Speaker 6: Depends only because I guess you have shared financial goals
• 31:07
  Speaker 6: and that is kind of really stunting that I would.
• 31:11
  Speaker 4: Say, But you also want to be passionate. You also
• 31:13
  Speaker 4: want to help them, you also want to support them.
• 31:15
  Speaker 4: I don't know. I don't know.
• 31:17
  Speaker 6: I guess if you have a chat with your partner
• 31:21
  Speaker 6: and say I will allow, not allow, Like it's you know,
• 31:25
  Speaker 6: I'm not saying it's to be worked into your budget,
• 31:27
  Speaker 6: worked into the budget, say like, let's set aside this
• 31:29
  Speaker 6: amount of money to work on your passion projects and
• 31:33
  Speaker 6: then save this amount of money, Like try and figure
• 31:36
  Speaker 6: out a way where you can still save he can
• 31:38
  Speaker 6: still feel satisfied, fulfilling or following these dreams that might
• 31:43
  Speaker 6: be short lasting. I think that's the only thing you
• 31:45
  Speaker 6: really can do, Just have like a really big chat
• 31:48
  Speaker 6: about what your financial goals are and how you're going
• 31:51
  Speaker 6: to get there together.
• 31:54
  Speaker 2: But yeah, you reckon jest.
• 31:57
  Speaker 5: Yeah, I don't want to discount. I feel like the
• 32:00
  Speaker 5: language used is conflicting because she started off by saying
• 32:03
  Speaker 5: side hustle, and then she switched to get rich quick,
• 32:06
  Speaker 5: and in my mind, those are two very different things.
• 32:09
  Speaker 5: And I think, like, as much as your partner is
• 32:11
  Speaker 5: trying a lot of things and they're failing, like, you
• 32:12
  Speaker 5: need to keep in mind that most small business owners
• 32:15
  Speaker 5: will tell you that their first idea was not their
• 32:17
  Speaker 5: successful idea. And you know, like some of the people
• 32:20
  Speaker 5: who have the biggest and best ideas, like your Bill
• 32:22
  Speaker 5: Gates's of the world, have a laundry list of failed
• 32:26
  Speaker 5: attempts or failed businesses or failed ideas that they.
• 32:28
  Speaker 2: Started off with. Yes, so we love tenacity.
• 32:30
  Speaker 5: Yeah, Like I feel like the way that her message
• 32:32
  Speaker 5: is phrased, it seems like she's obviously frustrated and she's
• 32:35
  Speaker 5: not liking that he's trying lots of different things and whatever,
• 32:38
  Speaker 5: And without being on the other side of it and
• 32:39
  Speaker 5: not really having that insight, it's hard to comment. And
• 32:42
  Speaker 5: I just don't want to discount or automatically assume that
• 32:46
  Speaker 5: you know, he's not trying or he's not working towards
• 32:48
  Speaker 5: something just because he's changing. I think like maybe he
• 32:51
  Speaker 5: should be sticking with them for longer, But again, without
• 32:54
  Speaker 5: knowing what it is, and blah bla blah, it's very
• 32:55
  Speaker 5: hard to say but yeah, I kind of agree, Like,
• 32:57
  Speaker 5: I think that if you're working towards goals and that's
• 33:00
  Speaker 5: something that's important to both of you, then you kind
• 33:02
  Speaker 5: of need to figure out what that looks like. If
• 33:05
  Speaker 5: trying these things is important to him, then you need
• 33:07
  Speaker 5: to decide whether that's a deal breaker forew like, are
• 33:10
  Speaker 5: you working towards two completely different things? And if so,
• 33:12
  Speaker 5: that's okay, But maybe that is a make it or
• 33:15
  Speaker 5: break it for your situation or you could you know,
• 33:18
  Speaker 5: if you're saving for a house, like do you want
• 33:20
  Speaker 5: to do a tendance in common agreement? And you know,
• 33:22
  Speaker 5: if you've contributed more to this deposit than him, do
• 33:26
  Speaker 5: you own more of the house or is there something
• 33:27
  Speaker 5: like that that you could look at as well? It
• 33:30
  Speaker 5: really depends on I guess how important these things are
• 33:32
  Speaker 5: to both of you. I agree because as someone who
• 33:35
  Speaker 5: does side hustle, like, I don't want to turn around
• 33:38
  Speaker 5: and say don't pursue things, don't try things, don't do things,
• 33:41
  Speaker 5: because everyone's kind of following there in path. But if
• 33:44
  Speaker 5: you feel like it's you know, impacting your goals, then
• 33:47
  Speaker 5: that's a conversation that you need to have about, well,
• 33:49
  Speaker 5: what does that look like? For the both of you
• 33:51
  Speaker 5: long term.
• 33:52
  Speaker 3: Yeah, I kind of absorbed it, I guess in a
• 33:55
  Speaker 3: similar way to you, Jess, where I was like, oh,
• 33:57
  Speaker 3: get rich quicks games versus you know, a side hustle,
• 34:00
  Speaker 3: because a side hustle doesn't actually cost that much money
• 34:04
  Speaker 3: in reality.
• 34:04
  Speaker 2: I mean, it could have an expensive side hustle.
• 34:06
  Speaker 3: But like, let's use you as an example, Jess, Like
• 34:09
  Speaker 3: you're a side hustler, but like you get a job,
• 34:11
  Speaker 3: you do the work.
• 34:12
  Speaker 2: Like I wouldn't say that there are heaps.
• 34:14
  Speaker 3: Of overheads, but it's also not something that you're trying
• 34:18
  Speaker 3: to project into making you a millionaire, right, you will
• 34:21
  Speaker 3: become one, Like that's a slave, I hope.
• 34:23
  Speaker 2: Yeah, that's the point.
• 34:24
  Speaker 3: But also I think that that mentality I'd never apply
• 34:28
  Speaker 3: to Jess Beck and go, oh yeah, she's always like
• 34:31
  Speaker 3: trying to get rich, like could get rich quick scheme.
• 34:34
  Speaker 3: So that makes me immediately think that maybe he's just
• 34:36
  Speaker 3: getting on the next best thing he sees on social
• 34:38
  Speaker 3: media or is pitched, and those things can be quite
• 34:41
  Speaker 3: expensive to get involved with. Like we all know that
• 34:44
  Speaker 3: multi level marketing companies are toxic and predatory. Like I
• 34:48
  Speaker 3: will never not have that opinion because if you are like,
• 34:52
  Speaker 3: let's be honest, we'll probably do another.
• 34:54
  Speaker 2: I want to do a.
• 34:55
  Speaker 3: Deep dive episode soon into multi level marketing companies and
• 34:57
  Speaker 3: what people make and how it works and like, oh
• 35:00
  Speaker 3: do we so juicy? One of my favorite podcasts side note,
• 35:03
  Speaker 3: is called The Dream by Wondery, and it literally goes
• 35:07
  Speaker 3: through how pyramid schemes happened and how now multi level
• 35:11
  Speaker 3: marketing companies exist legally, because like, if you say to
• 35:14
  Speaker 3: anybody in a multi level marketing company, oh, isn't that
• 35:17
  Speaker 3: a pyramid schame?
• 35:18
  Speaker 2: Do you know? How quickly they'll be like, oh, absolutely not.
• 35:20
  Speaker 2: That is not a multi level that is not a
• 35:22
  Speaker 2: pyramids game. That is not how it works.
• 35:24
  Speaker 3: And we just have a leader at the top and
• 35:26
  Speaker 3: then like the leadership structure comes down.
• 35:28
  Speaker 2: And flares out at the bottom. It might be triangle shape,
• 35:31
  Speaker 2: but it's not a pyramid scheme.
• 35:32
  Speaker 3: So it's just it's very interesting dynamic. But I feel
• 35:37
  Speaker 3: like that's maybe more what she's talking about because of
• 35:41
  Speaker 3: the language being used, Like I'd never go, oh, he's
• 35:45
  Speaker 3: got a side hustle of gardening every weekend and shopping
• 35:47
  Speaker 3: people's lawns and making some extra cash from that, And
• 35:50
  Speaker 3: I'm sick of it because it's a get rich quickschame,
• 35:51
  Speaker 3: Like you just wouldn't use those two things together, right,
• 35:55
  Speaker 3: Like would you ever go, oh, he started.
• 35:57
  Speaker 2: A candle company and it didn't work out, get.
• 35:59
  Speaker 3: Rich quicks Like, it's just not So I think that
• 36:02
  Speaker 3: the language there tells me that it maybe is a
• 36:05
  Speaker 3: little bit more you know, actual get rich quick. It
• 36:08
  Speaker 3: might be you know, he got online and was on
• 36:10
  Speaker 3: TikTok and saw a whole heap of videos about investing
• 36:13
  Speaker 3: in a drop shipping course and then you know, has
• 36:15
  Speaker 3: spent a whole heap of money setting that up and
• 36:17
  Speaker 3: that it didn't work, and now he's like on that
• 36:19
  Speaker 3: have you seen it recently? Just like the new like
• 36:21
  Speaker 3: drop shipping is affiliate marketing and them going, oh, you can.
• 36:25
  Speaker 2: Do a whole heap of affiliate market Yeah.
• 36:27
  Speaker 3: So I feel like it might be more like that,
• 36:29
  Speaker 3: where it's actually more about luck than actually intelligence.
• 36:33
  Speaker 5: Or the people are making money by selling you becurse,
• 36:35
  Speaker 5: not by actually selling.
• 36:36
  Speaker 3: Interesting exactly, and which case I think that that is toxic.
• 36:40
  Speaker 3: But obviously I think supporting your partner is really important
• 36:43
  Speaker 3: because there was a really long period of time where
• 36:45
  Speaker 3: I wasn't making money and my husband was helping to
• 36:47
  Speaker 3: support me in creating Cheese on the Money and Zella
• 36:49
  Speaker 3: because I just didn't didn't pay myself an income and
• 36:52
  Speaker 3: didn't have that to contribute, and so, you know, he.
• 36:55
  Speaker 2: Might have turned around and be like, fire out. Victoria
• 36:57
  Speaker 2: is a bit of a free loader.
• 36:58
  Speaker 3: Like, so, I think that there's thisdynamic that we need
• 37:00
  Speaker 3: to work through, and my assumption is that maybe his
• 37:04
  Speaker 3: you know, getting on the next best thing every single time,
• 37:07
  Speaker 3: at which point I'd say, why can't we just make
• 37:09
  Speaker 3: this legitimate? Like if you're putting the time and the
• 37:12
  Speaker 3: energy and the effort, he might not sit down and
• 37:14
  Speaker 3: work out a business that is actually going to be
• 37:16
  Speaker 3: sustainable and could have growth and actually.
• 37:19
  Speaker 2: Benefit you over the long term.
• 37:21
  Speaker 3: Because let's be honest, none of the get rich quick schemes,
• 37:23
  Speaker 3: if they're being marketed to you at that level, they're
• 37:25
  Speaker 3: not going to make you rich. They're going to make
• 37:27
  Speaker 3: the people that are selling the courses rich. And I just, yeah,
• 37:31
  Speaker 3: it upsets me so much because to start your own
• 37:33
  Speaker 3: business can be quite easy. It's why we do the
• 37:37
  Speaker 3: Business Bible, That's why we always empower people to you know,
• 37:40
  Speaker 3: give it a crack, because do you know, how much
• 37:42
  Speaker 3: you can do for free. Yeah, Like you can go
• 37:44
  Speaker 3: and do all of your research. You can you know,
• 37:46
  Speaker 3: contact suppliers if it was a product, and get quotes
• 37:49
  Speaker 3: on how much that would cost. You can look at
• 37:51
  Speaker 3: how much it would cost to register your business and trademarket,
• 37:55
  Speaker 3: and you could look into, oh, what branding options would
• 37:57
  Speaker 3: you have? Like you can do all of the research
• 38:00
  Speaker 3: into whether this business is viable or not before you
• 38:03
  Speaker 3: even spend a dollar. And I would recommend that everybody
• 38:06
  Speaker 3: who's in that situation where they're like, oh, I really
• 38:08
  Speaker 3: want to have my own business do that. But for me,
• 38:11
  Speaker 3: I always look at you know, having been a financial
• 38:14
  Speaker 3: advisor historically, I look at it and I just go,
• 38:17
  Speaker 3: do you know how many people I've seen that have
• 38:19
  Speaker 3: bought franchises because they're so desperate to become a business
• 38:23
  Speaker 3: owner and they're so passionate and they work the ninety
• 38:25
  Speaker 3: the one hundred hour weeks like they are killing themselves
• 38:28
  Speaker 3: for very little profit when someone else is making so
• 38:31
  Speaker 3: much profit off them because it's a franchised business. That
• 38:34
  Speaker 3: you then go, you have the tenacity, you have the time,
• 38:39
  Speaker 3: you're putting in so much time, energy and effort. Imagine
• 38:41
  Speaker 3: if you owned this one hundred percent, how much better
• 38:43
  Speaker 3: it would be for you. Same with like multi level
• 38:45
  Speaker 3: marketing stuff. You go, I can see that you're selling
• 38:48
  Speaker 3: a health product, Like I can totally see that. Like
• 38:51
  Speaker 3: I'm not saying that the product is terrible, but a
• 38:55
  Speaker 3: business is going to make a lot more money if
• 38:59
  Speaker 3: they just put that on the shelf and it was
• 39:01
  Speaker 3: like a you know.
• 39:02
  Speaker 2: A viral product.
• 39:03
  Speaker 3: If it's as good as you're saying, I can almost
• 39:06
  Speaker 3: guarantee that that business would make more money by pitching
• 39:10
  Speaker 3: it to Coal's or Woolli's or you know, chemist warehouse
• 39:13
  Speaker 3: and getting it on their shelves than having you individually
• 39:16
  Speaker 3: sell it.
• 39:17
  Speaker 2: So talk to me.
• 39:18
  Speaker 3: About why you think they think that's a good idea.
• 39:21
  Speaker 2: Do you know why?
• 39:22
  Speaker 3: Because the product doesn't stand up in the way that
• 39:25
  Speaker 3: you're saying it is in the way that it's marketed,
• 39:28
  Speaker 3: and they're using you as a vehicle for sales.
• 39:31
  Speaker 2: Yeah, Deyo's telling you that you're a business owner.
• 39:34
  Speaker 3: You are not a business owner because if you walk away,
• 39:36
  Speaker 3: you've not got a business to sell, You've not got
• 39:39
  Speaker 3: assets that you've built up. You might have income coming in,
• 39:43
  Speaker 3: but you do not own that business. You can't sell
• 39:45
  Speaker 3: it to somebody else. You are a glorified sales representative.
• 39:49
  Speaker 2: Yeah, and it.
• 39:50
  Speaker 3: Sounds savage, but I've got to be savage because I
• 39:53
  Speaker 3: want you to be in a better position. And if
• 39:55
  Speaker 3: you're putting in that time, energy and effort, you deserve
• 39:57
  Speaker 3: to be remunerated properly for it.
• 40:00
  Speaker 2: An advantage of.
• 40:01
  Speaker 4: Yeah, so truvy.
• 40:02
  Speaker 5: What everybody else have to say?
• 40:03
  Speaker 3: Oh, my gosh, probably nothing as spicy as me. We asked,
• 40:07
  Speaker 3: do you or your partner have a side hustle? Twenty
• 40:10
  Speaker 3: four percent of our community said yes, isn't that exciting?
• 40:14
  Speaker 4: That's an exciting lot.
• 40:15
  Speaker 2: I love that.
• 40:16
  Speaker 3: If yes, do you think you need to be passionate
• 40:18
  Speaker 3: about the idea for it to be successful? Eighty three
• 40:21
  Speaker 3: percent of you obviously said yes.
• 40:24
  Speaker 2: Agree.
• 40:25
  Speaker 3: We then asked, would you support your partner's side hustle
• 40:28
  Speaker 3: if they were throwing lots of money at it despite
• 40:30
  Speaker 3: it not making any return? Fifty five percent of you
• 40:34
  Speaker 3: said if they had goals and plans to make it work,
• 40:36
  Speaker 3: then of course, and forty five percent of you.
• 40:39
  Speaker 2: Said no, I just tell you to leave it. I
• 40:41
  Speaker 2: think it really depends.
• 40:43
  Speaker 3: Yeah, like most businesses are not going to turn a
• 40:46
  Speaker 3: profit in the first couple of years.
• 40:48
  Speaker 2: That's just fact.
• 40:49
  Speaker 3: So if you're trying to get your partner to stop
• 40:51
  Speaker 3: doing something because it's not turning a profit in the
• 40:53
  Speaker 3: first few years, like, that's probably not that constructive, Like
• 40:57
  Speaker 3: you've got to look at the bigger picture.
• 40:59
  Speaker 2: But like as we've.
• 40:59
  Speaker 3: Said on the pod before, Jessica went in doubt, zoom
• 41:02
  Speaker 3: ount Yeah. We then said, if this was you, would
• 41:06
  Speaker 3: you also be concerned? Eighty nine percent of you said yes,
• 41:10
  Speaker 3: he needs to have the same financial goals and be
• 41:13
  Speaker 3: on the same page, which I think is important. And
• 41:15
  Speaker 3: I think that that response, I suppose is really coming
• 41:18
  Speaker 3: from the language used again they get rich quick scheme
• 41:22
  Speaker 3: narrative I think leans into going like no red flag.
• 41:25
  Speaker 3: We then said, do you think you should have the
• 41:27
  Speaker 3: same savings goals if you are.
• 41:29
  Speaker 2: Getting a joint account?
• 41:30
  Speaker 3: Yeah, eighty three percent of you said yes, absolutely. I
• 41:34
  Speaker 3: find it really interesting actually, because jess if you have
• 41:37
  Speaker 3: a shared savings account with your partner, do you think
• 41:40
  Speaker 3: you have to have the same savings goals?
• 41:42
  Speaker 5: Well, I feel like that account has to be going
• 41:44
  Speaker 5: towards something that's shared, like a shared goal, like if
• 41:47
  Speaker 5: you are going, oh, we're saving for a house and
• 41:49
  Speaker 5: your partner's going, oh, we're saving for a holiday, Like
• 41:51
  Speaker 5: that doesn't really make sense. Yeah, but I think you
• 41:53
  Speaker 5: can have your own independent goals. I don't think when
• 41:55
  Speaker 5: you're a couple you need to absorb everything. And I
• 41:59
  Speaker 5: think the same that I'm getting is a lot of
• 42:01
  Speaker 5: people go you have to be the same, yeah, whereas
• 42:05
  Speaker 5: I don't think that's the case. In fact, I think
• 42:07
  Speaker 5: it's healthy to have different things going on. But like
• 42:10
  Speaker 5: I said before, I think that you have to be
• 42:12
  Speaker 5: working together. No, I totally make sure everybody's happy and
• 42:15
  Speaker 5: that you know, one person doesn't feel like they're carrying
• 42:17
  Speaker 5: all of the load like maybe.
• 42:19
  Speaker 2: This liston does.
• 42:20
  Speaker 3: And I think that I asked that question because Steve
• 42:24
  Speaker 3: and I are We have shared savings the house, but
• 42:27
  Speaker 3: we both independently save inside of those because to us
• 42:32
  Speaker 3: it's our income, like I don't see it as his
• 42:34
  Speaker 3: income or my income, Like we have a certain amount
• 42:36
  Speaker 3: that goes into our cash hub each and every single month,
• 42:39
  Speaker 3: and then we distribute that.
• 42:41
  Speaker 2: Based on what our life is like, like what's.
• 42:43
  Speaker 3: Going on, what does Steve on the reg you know, spend,
• 42:46
  Speaker 3: what do I spend? We definitely don't have one of
• 42:48
  Speaker 3: those tip for tad like, oh, well, if Jess gets
• 42:50
  Speaker 3: you know, fifty dollars allocated for fun, me, I get it,
• 42:53
  Speaker 3: even if I don't spend it.
• 42:54
  Speaker 2: Right, We're not like that. We're more well, let's.
• 42:57
  Speaker 3: Do our budget and cash flow and see what Jess
• 42:59
  Speaker 3: spends and see what Steve spends. And then you know,
• 43:01
  Speaker 3: we go through each of those lists and go, is
• 43:04
  Speaker 3: there anything that we could cut out? And Steve goes no, no, Like,
• 43:07
  Speaker 3: I'm pretty good with those things, and I'm the same.
• 43:10
  Speaker 3: But our like spending amount each week is actually different,
• 43:13
  Speaker 3: and it's because they're just our values. That's what's going on.
• 43:17
  Speaker 3: That's how we allocate our budget. It's never been a
• 43:19
  Speaker 3: Steve gets X, so I get X. And the same
• 43:23
  Speaker 3: thing is true for our savings account. Like we do
• 43:25
  Speaker 3: our budget, we work out what Steve needs to spend,
• 43:27
  Speaker 3: what I need to spend, what our bills are, what
• 43:28
  Speaker 3: our mortgages look like, how all of that works, and
• 43:31
  Speaker 3: then we have leftover mounts to go to savings. But
• 43:33
  Speaker 3: for example, last year, Jess and I went to Europe together.
• 43:37
  Speaker 3: That was a savings goal that I had inside my
• 43:40
  Speaker 3: you know, savings account with Steve. He knew that we're
• 43:43
  Speaker 3: working towards that. Obviously we've got a few other goals
• 43:46
  Speaker 3: on the go as well, but he.
• 43:48
  Speaker 2: Knew that was more pressing.
• 43:49
  Speaker 3: So like I took the money from the savings account
• 43:52
  Speaker 3: there to spend on this.
• 43:54
  Speaker 2: But that didn't involve Steve.
• 43:56
  Speaker 3: That involved, you know, a couple of girls and Jess
• 43:58
  Speaker 3: and I are going to Europe to have a girl's
• 44:00
  Speaker 3: and that was really fun. And that's not me saying
• 44:02
  Speaker 3: that's the right way to budget. There's no such thing
• 44:04
  Speaker 3: as the right way to budget. That's just currently what
• 44:06
  Speaker 3: works for my husband and I, and we implement the
• 44:08
  Speaker 3: She's on the Money Budget and cash Flow course, which
• 44:10
  Speaker 3: obviously we will chuck a discount link in the show
• 44:13
  Speaker 3: notes this week.
• 44:13
  Speaker 2: What is it? Just is it pod fifty?
• 44:15
  Speaker 1: Yeah?
• 44:15
  Speaker 2: Use pod fifty or turn it back all right, thank you?
• 44:17
  Speaker 3: Turn it back on the people can get the Budgeting
• 44:19
  Speaker 3: cash Only Masterclass because we use that and obviously I
• 44:22
  Speaker 3: built that based on how you know our cash flows
• 44:25
  Speaker 3: and making the most of it and making sure that
• 44:27
  Speaker 3: every dollar that comes in has a job, because that's
• 44:30
  Speaker 3: really important to me. I'm also really impulsive, So, like
• 44:33
  Speaker 3: it just said, it means that everything ticks along and
• 44:35
  Speaker 3: I'm not being irresponsible. However, you know, we do have
• 44:40
  Speaker 3: shared savings goals. But like I guess, if you extrapolate
• 44:44
  Speaker 3: that out, Steve's income comes in, my income comes in,
• 44:47
  Speaker 3: and some of his income gets spent on the goals
• 44:49
  Speaker 3: that I have, but vice versa. You know, he has
• 44:52
  Speaker 3: trips with his friends, he has things that he wants
• 44:54
  Speaker 3: to spend money on that you know, we go, well,
• 44:56
  Speaker 3: that's not going to come out of your every day spending.
• 44:59
  Speaker 3: How are we going to wait achieve that together? Because
• 45:01
  Speaker 3: we're a routine, We're we're partners, Like I want Steve
• 45:04
  Speaker 3: to have the life that he deserves and that we're
• 45:06
  Speaker 3: working towards, but within the.
• 45:08
  Speaker 2: Breadth of our budget.
• 45:09
  Speaker 3: Yes, so I think you know, sometimes I might go, oh, yes,
• 45:12
  Speaker 3: like we can't go to Europe again next year one
• 45:14
  Speaker 3: because that's ridiculous, but because you know, we're actually working
• 45:18
  Speaker 3: on achieving one of Steve's goals right now and getting
• 45:20
  Speaker 3: him into XIZ or doing whatever he wants to do,
• 45:23
  Speaker 3: and we're also you know, saving for a house or
• 45:25
  Speaker 3: saving for a cut or whatever it is. So to me, no,
• 45:29
  Speaker 3: you don't have to always be on one hundred percent
• 45:32
  Speaker 3: the same page with your joint savings, but you have
• 45:34
  Speaker 3: to be on the same page about the fact that
• 45:37
  Speaker 3: that joint income is joint income, if that's the way
• 45:40
  Speaker 3: you are going to budget.
• 45:41
  Speaker 2: Yeah, in saying that, I know a number of.
• 45:43
  Speaker 3: Couples who will never have a joint account, don't want
• 45:45
  Speaker 3: a joint account.
• 45:46
  Speaker 2: I've been married for fifty years and that works, so sure. Honestly,
• 45:50
  Speaker 2: the summary of that is you do you boo?
• 45:52
  Speaker 4: Do you boo?
• 45:52
  Speaker 3: So I feel like if you're choosing to have a
• 45:55
  Speaker 3: joint account, it's not just a do we get a
• 45:57
  Speaker 3: joint account or not? We need this more comprehensive discussion
• 46:00
  Speaker 3: around well what is it for? Because like I know
• 46:03
  Speaker 3: a number of people in our community have one joint
• 46:05
  Speaker 3: account with their partner, but it's actually so they both
• 46:07
  Speaker 3: dump money in there each and every single month, and
• 46:09
  Speaker 3: that just pays their rent and their bills, and it
• 46:11
  Speaker 3: just makes things and life a little bit simpler than
• 46:13
  Speaker 3: they have their.
• 46:14
  Speaker 2: Own savings accounts.
• 46:15
  Speaker 3: We obviously know that there are people completely independent who
• 46:17
  Speaker 3: are like, no, no, no, I'll transfer it directly to this
• 46:20
  Speaker 3: and you know this tip for tat and that's fine,
• 46:21
  Speaker 3: that works for them. And then there's people like Steve
• 46:24
  Speaker 3: and I who don't operate independently when it comes to finances.
• 46:28
  Speaker 3: But don't get me wrong, I still have my personal
• 46:33
  Speaker 3: emergency fund.
• 46:34
  Speaker 2: Steve still has his personal emergency fund.
• 46:36
  Speaker 3: And one thing that I was quite clear on when we,
• 46:39
  Speaker 3: I guess joined finances because I want to be independent,
• 46:43
  Speaker 3: is that we manually transfer our income monthly. So Steve
• 46:47
  Speaker 3: actually has a separate bank account that his income goes into,
• 46:50
  Speaker 3: and then he just transfers it manually to our joint
• 46:53
  Speaker 3: account because you know, if ever anything went south and
• 46:57
  Speaker 3: he needed to stop contributing to that or needed his
• 46:59
  Speaker 3: own income, he's always got direct access to his own funds.
• 47:03
  Speaker 3: You know, I just think it's quite I won't say controlling,
• 47:07
  Speaker 3: but it can be. And I've seen it happen historically
• 47:09
  Speaker 3: where you might have joint income and your income's going
• 47:12
  Speaker 3: into you know, a shared account, your partner's gate keeping
• 47:14
  Speaker 3: it from you, and there's just like, I won't say
• 47:16
  Speaker 3: it's a slippery slope, but it can be. And I
• 47:18
  Speaker 3: know that that happens, and unfortunately it has happened in
• 47:20
  Speaker 3: our community. But I kind of like that manual process
• 47:24
  Speaker 3: of him just transferring the cash that's in his account
• 47:26
  Speaker 3: to the joint and me doing exactly the same thing,
• 47:29
  Speaker 3: and then working from there and then.
• 47:31
  Speaker 2: Everything is the same. But each to their.
• 47:34
  Speaker 6: Own right, totally tweet the peach, very un brand, very brand.
• 47:41
  Speaker 2: I like that.
• 47:41
  Speaker 3: Let's leave it there because to each their peach, and
• 47:44
  Speaker 3: I like that.
• 47:45
  Speaker 2: And also we've got the bin raccoon. Raccoon's real cute.
• 47:50
  Speaker 2: I mean, if you're in America, you think that they're vermin.
• 47:52
  Speaker 3: If you're Australian and see raccoon, you're like, whoa beck,
• 47:55
  Speaker 3: that's so cute.
• 47:56
  Speaker 4: They very cute for us over here.
• 47:58
  Speaker 3: I believe they're called rash penders, little crash fan. We'll
• 48:04
  Speaker 3: have a really good weekend, guys. We will see you
• 48:06
  Speaker 3: bright and early on Monday for a money diary. But
• 48:08
  Speaker 3: till then, no, we love you and we hope you
• 48:10
  Speaker 3: have the best time.
• 48:12
  Speaker 2: Bye, guys.
• 48:12
  Speaker 5: Bye.
• 48:19
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• 48:22
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• 48:29
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