Latest / She's On The Money / Is the Holiday Worth the Debt Hangover?

Transcript

Is the Holiday Worth the Debt Hangover? · 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.
0:58
Speaker 3: Hello, and welcome to She's the Money, the podcast for
1:01
Speaker 3: millennials who want financial freedom.
1:03
Speaker 2: My friends, today is Friday, which means it is.
1:06
Speaker 3: Time to get my little team together and celebrate you
1:09
Speaker 3: ow incredible.
1:10
Speaker 2: She's on the Money community.
1:12
Speaker 3: Today, Miss Bech Sayed is going to be sharing her
1:14
Speaker 3: broke tips. Mister Scricci has pulled out a whole heap
1:17
Speaker 3: of her favorite money wins from the community to share.
1:20
Speaker 3: We're going to be helping to answer a juicy money dilemma,
1:22
Speaker 3: which this week is all about buying property from an
1:25
Speaker 3: inheritance in a relationship, and we're going to be unpacking.
1:29
Speaker 2: Something juicy that you slid into our DMS about this.
1:31
Speaker 3: Week, we're talking about covering costs when travel with friends changes. Beck,
1:36
Speaker 3: I feel like you're gonna have a few comments on
1:38
Speaker 3: this one. So I can't wait because I feel like
1:41
Speaker 3: you've traveled a lot, but you also have had like
1:43
Speaker 3: lots of things change, and like anyway, I can't wait
1:47
Speaker 3: to get to it. But before we get there, how
1:49
Speaker 3: about our weeks my friends? Good, welcome home, Thank you
1:52
Speaker 3: for having me. Very excited to have you back. I'm
1:56
Speaker 3: really glad to be back. But don't get me wrong.
1:58
Speaker 3: The biggest privilege to be able to travel, especially with
2:02
Speaker 3: a baby, a lot of hard work, Like, don't get
2:05
Speaker 3: me wrong, Like it wasn't easy, but I don't regret it.
2:09
Speaker 3: Like if anyone's thinking about traveling and they have it
2:12
Speaker 3: in their budget to be able to travel with a
2:14
Speaker 3: young baby, do it like you're gonna have to parent
2:18
Speaker 3: whether you're here or whether you're there, like and so true.
2:21
Speaker 2: I'm telling you right now.
2:22
Speaker 3: It was a lot easier getting up in the morning,
2:24
Speaker 3: being like I haven't slept, but I'm in Rome.
2:28
Speaker 4: Yeah, if you're going to be overtime, might as well
2:30
Speaker 4: be overtight. Some we're fun and.
2:31
Speaker 3: Pretty yeah, exactly right, where the apparols are easier to obtain.
2:36
Speaker 3: And I mean it's rude not to drink caparole if
2:38
Speaker 3: you're overseas it's illegal. I think, oh yeah, I'm pretty
2:41
Speaker 3: sure it is illegal. But enough about me.
2:44
Speaker 2: Jess has had a good week. Beck, how's your week been.
2:47
Speaker 2: It's been really good.
2:48
Speaker 3: We both we missed each other for like six weeks.
2:50
Speaker 3: As I was Japan, it was like, low key rude.
2:53
Speaker 3: How was Japan?
2:54
Speaker 2: It was incredible. I saw the photos, so I know
2:57
Speaker 2: it was incredible.
2:58
Speaker 3: It was incredible, And I didn't like contra prariy to
3:00
Speaker 3: what I probably portray. I am not like I'm not
3:04
Speaker 3: huge on travel. I don't like walking around with like
3:05
Speaker 3: dirty clothes, and I don't like transiting every two days.
3:10
Speaker 3: I don't enjoy it. But Japan, I am so excited
3:13
Speaker 3: to go back.
3:14
Speaker 2: It was the seat.
3:15
Speaker 3: I just said the same thing you said that, oh,
3:17
Speaker 3: Japan wasn't really like something that was super on my radar,
3:20
Speaker 3: and then you went You're like, I'm going back, Like
3:22
Speaker 3: that is the best holiday I've been on I'm yet
3:25
Speaker 3: to go, and you guys are making me go.
3:28
Speaker 2: Maybe that's my next location.
3:29
Speaker 3: Yeah, you really really need to really like, I'm never
3:32
Speaker 3: craving a travel I'm never craving a holiday even, but
3:36
Speaker 3: there's something about Japan.
3:37
Speaker 2: I just cannot wait to go back. I love that. Yeah,
3:41
Speaker 2: it was really really cool, good trip to Japan.
3:43
Speaker 3: Yeah, and I know that a lot of people have
3:47
Speaker 3: been following your employment journey back. Oh, we have been
3:52
Speaker 3: rooting for you, and I think everyone was like, oh
3:53
Speaker 3: my god, she got made redundant.
3:55
Speaker 2: What is she going to do. We're talking about budgets
3:57
Speaker 2: for the last couple of weeks before I left. If
3:59
Speaker 2: you got any interesting news on that front, No.
4:02
Speaker 3: Let's move on kidding. I do have a new job
4:05
Speaker 3: officially as of July.
4:07
Speaker 2: First. Finally, I'm so excited. Thank you so much.
4:10
Speaker 3: I honestly like and it's in the same building, it's
4:12
Speaker 3: in the same company. So you got made redundant and
4:15
Speaker 3: then the other side picked you up.
4:17
Speaker 2: I love that. Yeah, I mean so that just tells
4:20
Speaker 2: everybody that she's really good at what she does. That's
4:22
Speaker 2: so nice. Thank you so much.
4:24
Speaker 3: I could have cried when they told me because I
4:25
Speaker 3: was like, it's over.
4:28
Speaker 2: It's over.
4:28
Speaker 3: Like I guess that's how lots of people who have
4:30
Speaker 3: been made redundant feel, like Jesse, You've spoken on the
4:32
Speaker 3: show before about being made redundant, and you're just like,
4:35
Speaker 3: I feel like I'm in limbo. It's like, yeah, well,
4:38
Speaker 3: I'm really glad and I know the community is going
4:40
Speaker 3: to be so proud of you, but so excited to
4:42
Speaker 3: hear because like.
4:43
Speaker 2: It's just nice to know what you're up to, my friends,
4:46
Speaker 2: it's so sweet. Thank you so much.
4:47
Speaker 3: I want to get into it, though, it's just gretch.
4:50
Speaker 3: Have you got some money wins and confessions from the community.
4:53
Speaker 2: That you'd like to share?
4:54
Speaker 4: Absolutely?
4:55
Speaker 3: I do.
4:56
Speaker 4: First when I've got this week comes from Hannah, who said,
4:59
Speaker 4: I've officially paid off both my car loan and my
5:02
Speaker 4: credit card, which is two huge debts gone and a
5:05
Speaker 4: big fat weight off my shoulders.
5:07
Speaker 2: How good is that? Congratulation? It's not just one two
5:11
Speaker 2: And do you know what I love about that?
5:12
Speaker 3: So like complete side note, when people write into our
5:15
Speaker 3: group or comment on one of our threads and say
5:18
Speaker 3: I'm out of debt, you just know that the intention
5:21
Speaker 3: is not to get back into debt, because like, how
5:23
Speaker 3: many of us have paid off our credit cards and
5:25
Speaker 3: be like yeah, okay, like I'll put it in my
5:26
Speaker 3: back pocket.
5:27
Speaker 2: And I'll just use it again.
5:28
Speaker 3: Like I feel like when they're commenting, they're like line
5:30
Speaker 3: in the sand, like I'm not going to do that again.
5:33
Speaker 2: And I just I'm just so excited for all the
5:35
Speaker 2: change you guys are making.
5:36
Speaker 4: And last thing, everyone get around each other. Yes when
5:38
Speaker 4: I someone comments that's so sweet, I know. Next, I've
5:42
Speaker 4: got money in from at Chelsea, who said money win.
5:44
Speaker 4: My flatmate and I have been discussing buying a dinner
5:47
Speaker 4: table for months now. She then tells me that a
5:50
Speaker 4: lovely wooden ica dining table has been sitting abandoned behind
5:53
Speaker 4: her parking spot, which is like allocated in their apartment.
5:57
Speaker 4: They have specific parking spots since she moved in. No
6:00
Speaker 4: one's ever come back for it, so now they have
6:02
Speaker 4: a beautiful dining table for free money.
6:04
Speaker 2: Money love that maybe someone eats dinner there every night.
6:09
Speaker 2: Maybe he's never busted him. That's true. That makes on
6:13
Speaker 2: the floor. Now.
6:15
Speaker 4: Next, I've got of money win from Alla, who said
6:17
Speaker 4: she was shopping around for a new phone service provider
6:20
Speaker 4: because it is getting very expensive. Turns out that Optus
6:23
Speaker 4: offers students a discount, so it's thirty nine dollars for
6:27
Speaker 4: one hundred gigs over twelve months, so twenty bucks cheaper
6:31
Speaker 4: per month than what she was paying previously, which means
6:34
Speaker 4: she has saved two hundred and forty dollars for the
6:36
Speaker 4: year for double the data.
6:37
Speaker 2: I lovely money win.
6:39
Speaker 4: I didn't think you could get a student discount on
6:41
Speaker 4: something like that, so it's really.
6:43
Speaker 2: Ask always really salty.
6:45
Speaker 3: When I lost my student discount that I used to
6:48
Speaker 3: have on my old phone, planned it was only five
6:50
Speaker 3: dollars a month, but like that plan was five dollars. No,
6:53
Speaker 3: the student discount was five dollars a month.
6:56
Speaker 2: Lock me down. Imagine if it.
6:57
Speaker 3: Was five dollars a month, I'd be like, guys, every
7:00
Speaker 3: body go no, it used to be five dollars a month.
7:03
Speaker 3: And I just remember being like, oh, I don't have
7:05
Speaker 3: a student card anymore to upload because every year I
7:08
Speaker 3: had to upload my student card to keep the discount,
7:11
Speaker 3: and then they took it away, and I was like,
7:13
Speaker 3: I mean, it's fair because I have a full time job,
7:15
Speaker 3: but I don't really like this.
7:17
Speaker 4: My boyfriend was a matured student and his student ID
7:21
Speaker 4: expires at the end of this year, but he graduated
7:23
Speaker 4: like two years ago, and I'm really sad because we
7:26
Speaker 4: still use it to get cheap Yeah, okay.
7:28
Speaker 2: So like I feel like this is a Beck it's
7:33
Speaker 2: not expired.
7:34
Speaker 4: Well, that's it.
7:35
Speaker 3: It's like a driver's license. Yeah, that's you might not
7:37
Speaker 3: have a car, but the license is a case. The
7:39
Speaker 3: ID he got an ID, but this is like a
7:42
Speaker 3: Beck broke tip. So I'm sorry for stealing your thumb.
7:45
Speaker 3: It's also probably borderline not okay to do, but I'm
7:49
Speaker 3: going to share it because I just saw it on
7:50
Speaker 3: TikTok and it was this guy and he had his
7:53
Speaker 3: student ID and he got nail polished remover and he
7:57
Speaker 3: like rubbed out the expiration on his ideas so he
8:01
Speaker 3: could still show it.
8:01
Speaker 2: But it didn't have an expiry on it.
8:05
Speaker 3: So I mean, if hypothetically that was in James's best interest.
8:09
Speaker 4: He's gonna be forever.
8:10
Speaker 2: Yes, we really could do that. I mean, is it
8:14
Speaker 2: worth five a month? Maybe? I don't know. We're in
8:17
Speaker 2: the cost of living crisis. Guys.
8:19
Speaker 4: Movie tickets are like thirty bucks a ticket, so if
8:21
Speaker 4: we can get them for half of that, I'm like.
8:23
Speaker 2: All for it.
8:23
Speaker 3: Under anywhere you go, there's like there's adult and then
8:26
Speaker 3: there's concession, and then there's I don't know, senior or children,
8:29
Speaker 3: all of us. So I'm like, the movies is so
8:32
Speaker 3: expensive too. Like, don't get me wrong, it's a luxury.
8:35
Speaker 3: It's not something that everyone has in their budgets. But
8:37
Speaker 3: like Steve and I wanted to go see was it
8:40
Speaker 3: June or something June movie? And Steve's obsessed with June,
8:44
Speaker 3: read all the books, and.
8:45
Speaker 2: We're like, let's go. I was shocked at how expensive
8:48
Speaker 2: it was to go.
8:50
Speaker 3: Great, don't get me wrong, we didn't like do gold
8:53
Speaker 3: class or anything like that. We're just buying normal tickets.
8:55
Speaker 3: And I was like far out, like this is so expensive.
8:58
Speaker 4: I mean people in tickets and pop corners still like
9:00
Speaker 4: eighty bucks.
9:01
Speaker 3: Yeah, And I was like, do you think that maybe
9:02
Speaker 3: we could just wait until it comes out on Netflix?
9:04
Speaker 3: And the lookie gave me definitely said no.
9:06
Speaker 2: So we went.
9:07
Speaker 3: But I was just like, this is like a thing
9:10
Speaker 3: that we're going to have to think about if we
9:11
Speaker 3: want to keep going to the movies or do stuff
9:14
Speaker 3: like that. Like it wasn't a cheap date night, sure,
9:16
Speaker 3: And in my head when we're at Uni the movies
9:18
Speaker 3: was a cheap dates.
9:19
Speaker 2: Cheap day night.
9:20
Speaker 3: I'm almost shaking at how perfect this is because my
9:23
Speaker 3: broake tap is very very she's baiting all right, just
9:29
Speaker 3: don't want to get to that.
9:32
Speaker 4: Alex said, money Win. I had to expired one hundred
9:35
Speaker 4: dollars gift cards that expired last year. She asked the
9:38
Speaker 4: retail store if they could be honored so that they
9:41
Speaker 4: could still be utilized during the end of financial essales,
9:43
Speaker 4: and they said yes.
9:44
Speaker 2: You know why they said yes, yes.
9:46
Speaker 4: Because legally they have to.
9:48
Speaker 3: Exactly so, if anyone has any expired gift cards, they're
9:53
Speaker 3: not expired, my friends, they have to legally, yes, one
9:56
Speaker 3: of them.
9:57
Speaker 4: I don't know why they still put a like expiry
9:59
Speaker 4: date on them. They have to honor them no matter
10:01
Speaker 4: what that do.
10:01
Speaker 2: They still do that?
10:02
Speaker 3: I think they do, But I feel like at least
10:04
Speaker 3: one person out of like a thousand is going to
10:05
Speaker 3: be like, oh, it's expired, Like I'll just chuck it.
10:07
Speaker 4: Out, and they're just hoping that people just go, oh,
10:10
Speaker 4: it must be expired.
10:11
Speaker 2: Probably so shady. I hate that. Yeah, I hate that.
10:14
Speaker 3: But if you have any expired gift cards, definitely get them.
10:19
Speaker 3: You don't definitely go and redeem them or be really cheeky.
10:23
Speaker 3: One time, I had an expired gift card and I
10:26
Speaker 3: swapped it. I like went in and said, this is expired,
10:28
Speaker 3: and they were like, oh, we can honor it whatever.
10:30
Speaker 3: I had that conversation and then I got them to
10:32
Speaker 3: give me a brand new gift card and then I
10:34
Speaker 3: used it for a present someone else.
10:36
Speaker 4: Yeah, that's a good way.
10:37
Speaker 2: It's such a good idea because I hadn't used it.
10:41
Speaker 3: Well, I feel like at some point, if you haven't
10:43
Speaker 3: used the card or the present, like you don't deserve
10:46
Speaker 3: it anymore. A regift, yeah, but like a money regift. Yeah,
10:50
Speaker 3: I even know any cards. Yeah, I don't know why people,
10:53
Speaker 3: you know, there's that stigma like don't get people gift cards.
10:55
Speaker 2: Not like no, like I want a gift cards.
10:57
Speaker 3: But also, if you're going to give gift cards, this
10:59
Speaker 3: is just my personal opinion, give the most option, Like
11:03
Speaker 3: don't just go and buy like a store gift card,
11:05
Speaker 3: go and buy them a Visa gift card. Yeah, true,
11:09
Speaker 3: Like I can use it for my groceries if I want. Yeah,
11:11
Speaker 3: great idea, because if you really wanted to be savvy,
11:14
Speaker 3: you'd use that gift card for your groceries and then
11:17
Speaker 3: you'd transfer the money that you would have spent on
11:18
Speaker 3: your groceries to your savings.
11:20
Speaker 2: Oh wow, okay, we're just hacking mine.
11:24
Speaker 4: Just blue like you can do that. Just want more
11:27
Speaker 4: money in from me for this week? From a Beck
11:29
Speaker 4: great name. Beck said, I just went to turn off
11:32
Speaker 4: recurring billing for my Microsoft payments so I can put
11:35
Speaker 4: it through under my shot back when when it ends.
11:39
Speaker 4: And they offered it two months of Microsoft for free.
11:42
Speaker 2: This is good. Yeah, this is a good feel.
11:44
Speaker 4: Like that's something you've said before.
11:45
Speaker 2: It was like YOURTA was Yeah, the best memory. That's
11:49
Speaker 2: so sweet. That was your bro tip. You said, like,
11:51
Speaker 2: go and pretend to cancel and then they'll give it
11:53
Speaker 2: to you cheap.
11:54
Speaker 3: Yes, anywhere that's a gym, it's Adobe, they give to
11:57
Speaker 3: cheapot or they like take a few months on.
11:59
Speaker 4: Us for a little test.
12:01
Speaker 2: Yeah, so I always do that boys, pretend.
12:04
Speaker 3: I can do that financially, but don't do that in
12:06
Speaker 3: a relationship, Like I can't recommend testing the waters and
12:10
Speaker 3: being like oh leave, like that's just toxic. But if
12:13
Speaker 3: the relationship is with your gym, absolutely.
12:15
Speaker 2: Yes, absolutely give it a go.
12:17
Speaker 3: Okay, so do you feel do you feel ready for
12:20
Speaker 3: I'm so ready for your broke So they are a
12:22
Speaker 3: little bit different because I didn't actually I was a
12:24
Speaker 3: bit lazy this week, and I didn't source anything from
12:26
Speaker 3: the community, but I had I have like three from
12:28
Speaker 3: just me, which is very solvy.
12:29
Speaker 2: Okay, Okay, she's gone row.
12:32
Speaker 3: There were a couple of months there where you're like, guys,
12:34
Speaker 3: Like off air, you'd be like, guys, I don't know
12:36
Speaker 3: what my broke tip's going to be, And now you're
12:38
Speaker 3: just rolling back in with I'm not going to look
12:40
Speaker 3: at the community this week. I'm in give you three
12:43
Speaker 3: tips of my own. It's not even like stockpiling them
12:46
Speaker 3: for coming weeks. I know that's really silly to I
12:50
Speaker 3: love it. I'm not not great with money. I'm not
12:53
Speaker 3: great with like figure out how to properly organize my
12:55
Speaker 3: broke tips. But we're doing them in ascending or descending order,
12:58
Speaker 3: Like is it the best one first or the worst?
13:00
Speaker 2: I think we'll do describe best.
13:03
Speaker 3: I think the best one is first, but then you
13:06
Speaker 3: might find more joy in the last one.
13:08
Speaker 2: Okay, all right, all right, what are they? Let's go? Okay.
13:12
Speaker 3: Also, I want to say the middle one is just
13:13
Speaker 3: like a silly one that no one will ever listen to.
13:16
Speaker 3: But anyway, so the first one similar to what you
13:18
Speaker 3: guys were saying before. Cinemas are very expensive, and I
13:22
Speaker 3: did talk about how I turned my house into a
13:24
Speaker 3: pub a few years ago. Anyway, as you know, i'm dating,
13:29
Speaker 3: I have a girlfriend. Have you seen the post that
13:33
Speaker 3: they're putting on Instagram? If you don't fellow back on
13:35
Speaker 3: instagramming you, I'm missing out because they are really cute.
13:38
Speaker 2: That's scy think you.
13:40
Speaker 3: Anyway, I went to figure up the other night and
13:41
Speaker 3: I was like, it's just going to be like a
13:42
Speaker 3: chill night, Like we'll just like have like frozen pizza.
13:45
Speaker 3: Pizzas were on specials, like five dollars a pizza.
13:49
Speaker 2: Yeah, I love those so good.
13:51
Speaker 3: And when they're on sale out of ten totally. So
13:56
Speaker 3: I feel like I spent maybe ten dollars on dinner.
13:58
Speaker 3: And then what I did was the night before I
14:00
Speaker 3: went to km out and just got like a bunch
14:01
Speaker 3: of colored paper. I mean, I'm not a big fan
14:03
Speaker 3: of like the amount of waste that I probably used.
14:06
Speaker 3: I didn't have to, So you can do this a lot.
14:08
Speaker 3: You don't have to disclaim it. In fact, I think
14:11
Speaker 3: Jess and I we're both just really envious that you
14:14
Speaker 3: have a partner that wants to do creative dates. I
14:17
Speaker 3: think both of us are sitting here being like, damn,
14:18
Speaker 3: we should have been lesbians, because I personally have a
14:23
Speaker 3: partner that if I said I went and got some
14:24
Speaker 3: craft paper, he'd be like, you can put that straight
14:26
Speaker 3: in the bin. Well, actually, no, to be fair, my
14:31
Speaker 3: partner would also say the same thing. So this was
14:32
Speaker 3: I was doing this before she arrived. So I like
14:34
Speaker 3: I put like signs on the walls. One that was
14:36
Speaker 3: like Cinema eight on my door, and then like a
14:38
Speaker 3: little spin please put your phone on silent, like with
14:42
Speaker 3: a little and then like on all the walls was
14:44
Speaker 3: like coming soon. And then I just like photoshopped our
14:46
Speaker 3: face onto like a grease poster. And on the TV
14:51
Speaker 3: it was like these fake everything was out of paper
14:53
Speaker 3: and these fake like you know, these big curtains that
14:56
Speaker 3: they have at the cinema and little like silhouettes on TV.
14:59
Speaker 3: And then there it was like a candy bar. And
15:01
Speaker 3: so in total, honestly, I'm gonna say that this thing
15:03
Speaker 3: costs me maybe fifty sixty dollars, but that's because I
15:06
Speaker 3: also bought snacks.
15:07
Speaker 4: That's still cheaper than most date night, less than we
15:09
Speaker 4: looing to the actual cinema.
15:11
Speaker 2: Exactly, and it we're just really cute night.
15:14
Speaker 3: It was just a really sweet, like it's so nice
15:15
Speaker 3: being your own home when you like reframe your house
15:19
Speaker 3: because you're like, I don't want to be in, I
15:21
Speaker 3: don't want to stay in for the night, But like
15:22
Speaker 3: if you pretend that it's something else, then all of
15:25
Speaker 3: a sudden, you're like, wow, it is really nice actually
15:27
Speaker 3: watching a movie from home.
15:28
Speaker 2: I can like wear no pants if I want to.
15:30
Speaker 2: I can't eat.
15:31
Speaker 3: You can't do that at the cinema legally, yeah, you
15:33
Speaker 3: can pause it and have a chat and like you
15:35
Speaker 3: can't do you can be on your phone if you
15:38
Speaker 3: want to, which is also I spent more than that
15:40
Speaker 3: going and seeing June. Don't get me wrong, I know
15:42
Speaker 3: June has a cult following, but I fell asleep pathway
15:45
Speaker 3: through it, so I didn't even get the whole value
15:47
Speaker 3: of spending that amount. And you don't have any snack
15:50
Speaker 3: you've ever dreamed of at your fingertips for free.
15:52
Speaker 2: No, you're not even allowed to take any snack you
15:54
Speaker 2: want to.
15:55
Speaker 3: The cinema, don't you exactly ends up being quite an
15:58
Speaker 3: expensive thing.
15:59
Speaker 2: And if you want to and you get a.
16:00
Speaker 3: Five dollar bottle of red a seventy five cent bottle
16:03
Speaker 3: of soda water, like if we could have got our
16:05
Speaker 3: Audi Le mule. Oh, I beg yours, I beg yours.
16:13
Speaker 3: I think it is common knowledge that my favorite one
16:16
Speaker 3: is the rose from Audi called Lemielee.
16:19
Speaker 2: I'm sorry I didn't do.
16:21
Speaker 3: I'm gonna buy you a bottle. I'm gonna buy you
16:24
Speaker 3: a bottle and bring it. I shouldn't say what I heard,
16:28
Speaker 3: but I remember that love always fills me with joy.
16:34
Speaker 2: When Jess loses, you know, it's going to be a
16:36
Speaker 2: good podcast. Oh yeah, from a hero out. It's going
16:39
Speaker 2: to be a great show.
16:41
Speaker 4: Sorry if you's listened this far already and it was
16:43
Speaker 4: just average.
16:44
Speaker 2: Yeah was up until now. So that's my first broke tip.
16:49
Speaker 2: I love that into something really, I love that so much. Jess.
16:52
Speaker 2: I feel like that is a really good example of
16:54
Speaker 2: if she wanted to, she would completely completely.
16:59
Speaker 4: My boyfriend would rather just pay ten bucks for a
17:00
Speaker 4: single coke and call it same.
17:05
Speaker 3: And I feel like, please don't get me wrong, I
17:07
Speaker 3: have a beautiful partner I am not mad about any
17:10
Speaker 3: of any of it. I do feel like sometimes I
17:13
Speaker 3: hear beck stories and I'm like jealous.
17:17
Speaker 2: We have a word to your partners. You can be
17:19
Speaker 2: he's not going to listen.
17:20
Speaker 4: Send them this clip, send the click and send it.
17:22
Speaker 3: I'll be like Steve, the expectation has been set here,
17:26
Speaker 3: you're about here, bex here.
17:30
Speaker 2: Well, but I'm a bit extra.
17:31
Speaker 3: I feel like if lasting your partners are probably showing
17:33
Speaker 3: love in their own wonderful way.
17:35
Speaker 2: Languages, You're right, exactly.
17:38
Speaker 3: You don't have to be that extra, but it is
17:40
Speaker 3: money saver at the end of the Day's tip too.
17:43
Speaker 2: Number two.
17:44
Speaker 3: I feel like I always talk about this now that
17:46
Speaker 3: I'm working again for this company. I am fully on
17:49
Speaker 3: their Instagram, I saw the other day they posted what's
17:51
Speaker 3: your go to?
17:52
Speaker 2: I'm broke meal?
17:52
Speaker 3: And I thought that was a really great thing to
17:55
Speaker 3: just quickly skim through. So we should put that as
17:59
Speaker 3: a thread in our face book group. Yeah, yeah, we'll
18:01
Speaker 3: do that today. So as of Friday, there'll be a
18:03
Speaker 3: credit in our Facebook group of like, what's your go
18:06
Speaker 3: to I'm broke meal? Yea, I feel like that's a
18:08
Speaker 3: good thing to share. Yeah, it really is, because if
18:10
Speaker 3: you're running out out of ideas and you actually have
18:12
Speaker 3: no money, then it's really great to just like hunt.
18:14
Speaker 2: Whatever else is doing pizzas on tail.
18:17
Speaker 3: Yeah yeah, oh yeah, that's like such great value. So
18:22
Speaker 3: a lot of people mentioned tim spaghetti and cheese like
18:26
Speaker 3: as a toasty which a little jafful moment, a little jaffelel,
18:29
Speaker 3: and that like that really wouldn't be more than a
18:32
Speaker 3: few dollars.
18:32
Speaker 2: I think that's a great idea.
18:33
Speaker 3: Has to be Wonder white bread though, like I know
18:35
Speaker 3: other bougie bread options exist, but if you are making
18:38
Speaker 3: a jaffle, yes, I'm pretty sure legally it has to
18:42
Speaker 3: be white wonder white bread.
18:44
Speaker 2: It does, it doesn't know, that's correct, it's created absolutely.
18:47
Speaker 3: We've got micro popcorn, which is what we did in
18:51
Speaker 3: the fake Cinema, which is obviously if you're going maybe
18:54
Speaker 3: if you're going to the cinema's you micraabe your own.
18:57
Speaker 3: You just chuck it under your jacket, you walk straight in.
18:59
Speaker 3: It's like what is like a dollar. You've got to
19:01
Speaker 3: have the conviction though, and like I would get to
19:04
Speaker 3: the front thing and be smuggling and be like by
19:07
Speaker 3: the way I'm smuggling, Like I just shaking.
19:09
Speaker 2: You just can't hold it anymore. I can't. I'd be like,
19:12
Speaker 2: are you gonna wear arrest me?
19:13
Speaker 4: Like the seventeen year old working at the cinema wouldn't
19:16
Speaker 4: give a shit.
19:16
Speaker 2: Yeah, their phone's not looking anyway.
19:19
Speaker 4: I'm paid fourteen dollars an hour. I'd do what you
19:22
Speaker 4: want to pay exact system.
19:25
Speaker 3: But you do get those random ones that are like,
19:27
Speaker 3: weirdly really a trip. They're on the power trip. They're
19:30
Speaker 3: like trip exactly. You gotta look out for those ones.
19:34
Speaker 3: Another person said breakfast dinner, which is like toastal cereal.
19:37
Speaker 3: It's like a great idea migering of course. And yesterday,
19:40
Speaker 3: so I went to Cohal's and I obviously, as as
19:43
Speaker 3: I always do, I am broke and went and I
19:45
Speaker 3: was like, what can I get?
19:47
Speaker 2: Two meals for four dollars is all I had?
19:50
Speaker 3: And I got a little pack of those I have
19:53
Speaker 3: said this, four the sardines is ninety cents each. Two
19:55
Speaker 3: of those and then a little thing of two microwavable rice.
20:00
Speaker 2: That's it.
20:00
Speaker 3: And that's that did me for two holidays. I want
20:03
Speaker 3: you to know I also had bread in the office kidchen. Okay, yeah,
20:06
Speaker 3: but so that's I think if you want to like
20:08
Speaker 3: jump on that thread and the one that we're going
20:09
Speaker 3: to put up as well. But I think this was
20:11
Speaker 3: like kiss one on one one or something. If you
20:13
Speaker 3: follow on Instagram, just have a little browse through and
20:15
Speaker 3: see what you know, See what.
20:16
Speaker 2: That's a good tip.
20:17
Speaker 3: I know you said that we were going to be
20:19
Speaker 3: disappointed and no one would do it, But like now
20:21
Speaker 3: we've got a whole Facebook thread coming for the community
20:23
Speaker 3: because of that tip.
20:24
Speaker 2: You're a genius.
20:25
Speaker 3: And now yesterday, as you guys know, I've got a job.
20:27
Speaker 3: I'm now working for Gold So an employed woman, employed woman.
20:31
Speaker 3: I read an article about free and fund activities to
20:33
Speaker 3: do in Melbourne this school holidays. Do you want me
20:35
Speaker 3: to give you as the link is that? Oh yeah,
20:37
Speaker 3: we'll chuck it in the show notes. Okay, cool, because
20:39
Speaker 3: they don't read it out because that would be way
20:40
Speaker 3: too complicated, But we will put the link.
20:42
Speaker 2: In the show notes.
20:43
Speaker 3: I guess I'll just like I'll read some really really
20:45
Speaker 3: quick ones. So there's the chocolate Factory diorama at North
20:48
Speaker 3: Melbourne Library. Completely free lego chocolate Factory diorama at Library.
20:53
Speaker 3: At the Dock you can like create your own creations
20:56
Speaker 3: it's all free. It's all free to do this school holiday.
20:58
Speaker 2: When you say.
20:59
Speaker 3: School holidays, they're like age limits on this.
21:03
Speaker 2: This is the thing.
21:03
Speaker 3: I was reading these and I was like, oh, yeah,
21:08
Speaker 3: your ess and my jests will all go together. It
21:10
Speaker 3: can be a group date that would be really cute,
21:12
Speaker 3: but like not a group date, but like a group date.
21:15
Speaker 3: Jess and I will do the things together that our
21:16
Speaker 3: partners won't do.
21:18
Speaker 2: That's what girl friendships are four exactly exactly.
21:22
Speaker 3: We've also got Walker's Wacky Workshop where you can create
21:24
Speaker 3: in craft orin sweet treats.
21:28
Speaker 4: It sounds delicious. I love a nerds gummy cluster, and
21:30
Speaker 4: I think they're wonka.
21:31
Speaker 2: So the girls in The.
21:34
Speaker 3: Girls this week they had nerds clusters and I hadn't
21:38
Speaker 3: ever had one. It was a textural experience. I thought
21:42
Speaker 3: it would just be a whole heap of nerds stuck together.
21:45
Speaker 3: But it threw me back to like, do you remember
21:47
Speaker 3: in high school? Maybe they still have them, the nerds ropes.
21:51
Speaker 3: It was like it was like, yeah, it was like
21:53
Speaker 3: gummy in the middle with nerds stuck.
21:55
Speaker 2: It was an experience really good, not for me personally,
21:59
Speaker 2: but why I wasn't that sold That's why I was like,
22:02
Speaker 2: it was an experience, really really nice. It's a sensory experience.
22:06
Speaker 3: Last one is this really cool science thing which is
22:09
Speaker 3: like a south Bank library at Boyd. It's George's marvelous
22:13
Speaker 3: medicine mix up where you like make your own color
22:15
Speaker 3: changing medicine thing. Anyway, so you make medicine, you're gonna
22:18
Speaker 3: have to give us more like it's not just a
22:22
Speaker 3: drug class for kids.
22:23
Speaker 2: It's actually no, it's more of like a science.
22:26
Speaker 3: It's like a science experiment. So it's also for adults.
22:28
Speaker 3: You can just go on your own. I feel like
22:29
Speaker 3: I actually will I have a baby now, which I
22:32
Speaker 3: think gives us all of the rights to be like Harvey.
22:37
Speaker 2: He might be four months old, but he wants to
22:38
Speaker 2: go to the zoo.
22:39
Speaker 4: Yeah, all the fun activities.
22:42
Speaker 2: Jess and I we're going to be in. Oh, we'll
22:45
Speaker 2: have to take the baby to that real hard All
22:50
Speaker 2: your life is just like it's your world has opened up.
22:53
Speaker 2: I know what is your oyster?
22:54
Speaker 3: Now?
22:54
Speaker 2: Thank you? Thank you.
22:56
Speaker 3: All right, let's go to a really quick break on
22:58
Speaker 3: the flip side. We're going to be talking about buying
23:00
Speaker 3: property from an inheritance while in a relationship. And we're
23:03
Speaker 3: going to unpack something that you slid into our DMS about.
23:05
Speaker 3: We're chatting this week about covering costs when travel with
23:08
Speaker 3: friends changes, so guys don't go anywhere.
23:15
Speaker 4: Welcome back, everybody. Let's take a listen to this week's
23:18
Speaker 4: money dilemma.
23:22
Speaker 3: Hi. There, have you got a money dilemma you just
23:24
Speaker 3: can't solve? The Sheese on the Money team is here
23:27
Speaker 3: to help. Every week, we tackle your dilemmas, both big
23:30
Speaker 3: and small, to answer your most burning money, career.
23:32
Speaker 2: And life questions.
23:34
Speaker 3: To get involved, simply head to our website and leave
23:36
Speaker 3: us a short voice recording and you might just find
23:38
Speaker 3: yourself on the show. Now, let's take a listen to
23:41
Speaker 3: this week's money dilemma.
23:44
Speaker 5: Hey, guys, I recently come into quite a large amount
23:46
Speaker 5: of inheritance and I'm looking into buying my first home
23:49
Speaker 5: with this. It's such a bit of sweat time and
23:51
Speaker 5: I'm so grateful for this life changing opportunity and i
23:53
Speaker 5: want to ensure I honor it. I've been with my
23:56
Speaker 5: partner for just over four years and we have all
23:58
Speaker 5: the intentions to continue. While we share our bills fifty
24:01
Speaker 5: to fifty, we don't share finances or own major assets together,
24:04
Speaker 5: and we don't intend to have kids or get married.
24:07
Speaker 5: My partner hasn't got enough savings yet to put down
24:10
Speaker 5: a deposit. I'm a little unsure about how to go
24:12
Speaker 5: about buying a house and sharing with them. My options
24:15
Speaker 5: would be to buy the house independently and have my
24:17
Speaker 5: partner pay rent, or maybe have them share a very
24:21
Speaker 5: small portion of the deposit. Both feel like there is
24:24
Speaker 5: some gray area. We are currently in the sharehouse and
24:27
Speaker 5: dying to have our own space. I want to help
24:29
Speaker 5: us both, but I do know of horror stories where
24:32
Speaker 5: someone is able to get half a house they haven't
24:34
Speaker 5: paid for. I'm wondering what your thoughts are on this?
24:37
Speaker 5: Thank you?
24:38
Speaker 2: What are you guys for? Reckon?
24:39
Speaker 3: I didn't even think about the last bit where like you,
24:43
Speaker 3: if you're like parted de facto, maybe you can get
24:45
Speaker 3: path of a property or like the money from that property,
24:49
Speaker 3: because initially I was like, oh, yeah, just buy it
24:51
Speaker 3: yourself and then it's yours, it's yours. But I did
24:55
Speaker 3: not think about that. Is that like how much of
24:59
Speaker 3: a concern is that? Is that a real thing?
25:00
Speaker 4: Like if you just so like technically speaking from what
25:04
Speaker 4: I understand you, like, but I mean it happens when
25:07
Speaker 4: you just live with someone, Like technically, my partner and
25:09
Speaker 4: I have lived together long enough that like we qualify
25:11
Speaker 4: for like a share, like we could go after each
25:14
Speaker 4: other's like super one, all of those sorts of things.
25:18
Speaker 3: So in Australia, a de facto of relationship is when
25:23
Speaker 3: two people are not married but live together or have
25:26
Speaker 3: lived together as a couple on a genuine domestic basis,
25:31
Speaker 3: and a family law court can make decisions if there's
25:33
Speaker 3: no agreement. So essentially, even if you were like not
25:38
Speaker 3: boyfriend and girlfriend because you.
25:39
Speaker 2: Hadn't put a label on it and then they moved in.
25:42
Speaker 3: Like after two years, you are actually de facto when
25:45
Speaker 3: it comes to the eyes of the law. So you
25:47
Speaker 3: actually do have to be quite careful about that because
25:50
Speaker 3: your assets do get mixed up into that, And I
25:53
Speaker 3: mean there are conversations to be had about what assets
25:56
Speaker 3: you owned pre relationship and then what assets you acquired
26:01
Speaker 3: during the relationship and whether they come into play. But
26:04
Speaker 3: as a basis, what happens is and I mean the
26:07
Speaker 3: courts are going to look at things differently if it
26:10
Speaker 3: goes that far, but yes, they are able to go
26:13
Speaker 3: for your stuff. I guess is the really short story.
26:17
Speaker 3: This is going to change depending on what state or
26:19
Speaker 3: territory you live in, or even what country you live in.
26:22
Speaker 3: I know that in Australia, Jess you mentioned like, oh,
26:25
Speaker 3: we could go for each other super, and that's absolutely
26:27
Speaker 3: correct because Jess lives in Victoria, whereas if you lived
26:30
Speaker 3: in Western Australia that's not the case. So in Western
26:33
Speaker 3: Australia that's the only state that you can't go for
26:37
Speaker 3: your partner super, which, to be honest, I don't like
26:41
Speaker 3: because I feel like that significantly impacts women more than
26:46
Speaker 3: impacts men. And if you think about it a little
26:48
Speaker 3: bit deeper, a man might have been able to be
26:50
Speaker 3: in the workforce for their entire career and how to
26:53
Speaker 3: stay at home mum for their entire career, and then
26:56
Speaker 3: they decide to get a divorce once the kids have
26:58
Speaker 3: grown up because they stayed together for kids, for their
27:00
Speaker 3: whole relationship, and now the mum is significantly worse off
27:04
Speaker 3: because she has no retirement savings and she can't actually
27:06
Speaker 3: access any of that, even though you and I would
27:09
Speaker 3: probably agree that yeah, she probably should be able to
27:12
Speaker 3: access some of his super. So there's a deeper conversation
27:15
Speaker 3: about that to be had, and I know that there
27:17
Speaker 3: is a lot of conversation about that changing, which is
27:19
Speaker 3: really positive. But ultimately, these laws exist to protect both
27:24
Speaker 3: parties in a relationship, because if you acquire something in
27:26
Speaker 3: a relationship, Beck, when you and I are all happy
27:28
Speaker 3: and hunky dory, there's an assumption that it was both
27:32
Speaker 3: of our relationship and our you know, supporting each other
27:35
Speaker 3: that got us to that. Whereas an inheritance that's a
27:38
Speaker 3: different story. And you and I might might live together
27:41
Speaker 3: because like, cost of living is really high, and at
27:43
Speaker 3: the end of the day, I do feel like lots
27:44
Speaker 3: of people they just move in together because it's honestly convenient.
27:48
Speaker 2: Like, Beck, life's expensive.
27:50
Speaker 3: You're staying at my house five nights a week, anyway,
27:52
Speaker 3: why don't you just move in? Like it wasn't that
27:54
Speaker 3: serious of a relationship, but like, let's just do this
27:57
Speaker 3: for now. If we break up, you just move out
27:59
Speaker 3: right really easy. But what if you got an inheritance.
28:03
Speaker 3: I'm then legally able to be like, oh, well, we
28:05
Speaker 3: broke up, but like you got that during our relationship,
28:08
Speaker 3: I can have half of that.
28:10
Speaker 4: Yeah, I feel like it gives me the like a
28:12
Speaker 4: good thing to bring up is that, like, regardless of
28:14
Speaker 4: whether you buy a house or whether you use the
28:17
Speaker 4: cash for some other asset, theoretically they may be entitled
28:21
Speaker 4: to that regardless of what you do with it. So
28:24
Speaker 4: like putting it in a house or not putting it
28:25
Speaker 4: in a house, isn't the difference between.
28:27
Speaker 2: Yeah, it's not and not protecting it.
28:29
Speaker 3: Yeah, Like the cash is up for grabs, and it's
28:31
Speaker 3: not necessarily immediately up for grabs. And this is where
28:34
Speaker 3: you need to get a financial advisor or an accountant
28:37
Speaker 3: involved to discuss this because often what happens, and this
28:40
Speaker 3: is probably going on a little bit of an inheritance tangent,
28:43
Speaker 3: and we'll put in the show notes a couple of
28:46
Speaker 3: links to episodes where I've spoken in more depth about inheritance. However,
28:51
Speaker 3: when an inheritance gets transferred, right, let's say I passed
28:54
Speaker 3: away yesterday and I've put Beck in my will, what
28:57
Speaker 3: often happens is I might have establish to trust, which
29:00
Speaker 3: will then become a testamentary trust because it's testamentary because
29:03
Speaker 3: I've passed away. And that's the only way a testamentary
29:06
Speaker 3: trust can be established. That money sitting in that trust
29:10
Speaker 3: if it's in the trust is protected until you take
29:13
Speaker 3: it out of the trust. So often people go, I
29:16
Speaker 3: don't need the trust. I'm just get rid of that
29:18
Speaker 3: right now, because you know I'm going to have to
29:19
Speaker 3: do a tax return for that trust, and that's money
29:22
Speaker 3: that I don't really want to be spending.
29:23
Speaker 2: That's expensive.
29:25
Speaker 3: But what you're forgetting is the protection that trust is
29:28
Speaker 3: currently affording you because if it was inherited to you.
29:31
Speaker 3: And don't get me wrong, this isn't legal advice. This
29:33
Speaker 3: is just how I've seen it happen with previous clients.
29:37
Speaker 3: If it's in the testamentary trust still and you haven't
29:39
Speaker 3: dissolved that structure, you are going to be in a
29:42
Speaker 3: position where it's protected from your partner the second you
29:45
Speaker 3: pull it out and put it in your own bank account.
29:47
Speaker 3: Even if you don't want to make a decision on
29:48
Speaker 3: it right now, it's now an asset that they have
29:51
Speaker 3: access to. So we need to make sure that if
29:54
Speaker 3: it's been left that way, it's there. But then you
29:56
Speaker 3: also need to be talking about, all right, well how
29:59
Speaker 3: do I protect this. Let's say it just got transferred
30:01
Speaker 3: directly to your bank account. Talk to your accountant about
30:05
Speaker 3: setting up a trust to begin with that. Maybe you
30:07
Speaker 3: put that in talk to your accountant about maybe working
30:11
Speaker 3: with them or working with a legal advisor to set
30:14
Speaker 3: up a binding financial agreement that outlines, Okay, I got this,
30:19
Speaker 3: and if we break up, I don't want you to
30:21
Speaker 3: be able to take it. Any sane reasonable human being
30:25
Speaker 3: would be like, yeah, of course, Beck, that's you know,
30:27
Speaker 3: money from a family member or a loved one that's
30:30
Speaker 3: really important to you, and I actually have no claim
30:32
Speaker 3: over that.
30:32
Speaker 2: To me, it's a red flag if they were going, oh,
30:34
Speaker 2: but like if I broke up with you, like, what
30:37
Speaker 2: do you mean I got nothing?
30:38
Speaker 3: I'm sorry, Sorry, sir, Absolutely not. So I think it's
30:42
Speaker 3: important to have those conversations. But then also even if
30:46
Speaker 3: you're like, oh, but I'm in love with Beck, which
30:49
Speaker 3: I am, just would mean of course I get it,
30:52
Speaker 3: but we're never going to break up. This money is
30:55
Speaker 3: for us to create our future and build our future.
30:58
Speaker 3: The best time to be talking about what would happen
31:01
Speaker 3: if our relationship dissolved is when we're in the best
31:04
Speaker 3: possible position right like, right now, nobody's cheated right now,
31:08
Speaker 3: there's no animosity in our relationship. I want to sit
31:11
Speaker 3: down with you and have a chat about the best
31:14
Speaker 3: possible outcome, and usually protecting an inheritance is really smart.
31:18
Speaker 3: So let's say that you purchased a property with some
31:20
Speaker 3: inheritance and you use that inheritance as your deposit. Beck,
31:23
Speaker 3: Let's pretend for a second that the inheritance is from me,
31:27
Speaker 3: like it's come through me. We're in a relationship. You
31:29
Speaker 3: didn't have a house deposit. All of a sudden, I've
31:31
Speaker 3: got this inheritance. We have a house deposit, but you're
31:35
Speaker 3: going to pay fifty percent of the mortgage. So maybe
31:38
Speaker 3: we put together a binding financial agreement that if things
31:41
Speaker 3: don't work out between us, I can pull out my
31:43
Speaker 3: inheritance and put it back in my bank account from
31:46
Speaker 3: the profits of the sale of that property, and then
31:48
Speaker 3: we split things fifty to fifty after that. Yeh, so
31:51
Speaker 3: I think there's a conversation. It doesn't automatically mean that
31:54
Speaker 3: you get my stuff. You're obviously benefiting from it because
31:56
Speaker 3: we're getting into the property market together. However, I think
31:59
Speaker 3: they need to be a deeper conversation around well, actually,
32:03
Speaker 3: if this doesn't work out between your eye, like, I
32:05
Speaker 3: want to walk away with what I put in, And
32:07
Speaker 3: the same is true for anything like you know, Jess,
32:10
Speaker 3: for example, is talking about purchasing property. She's been very
32:13
Speaker 3: open on our podcast about that, and she's doing it
32:16
Speaker 3: on her own. I have been in the background being like, Jesse,
32:19
Speaker 3: if you don't have a binding financial agreement, I'm coming
32:21
Speaker 3: for you, Like you want my help, this is what
32:24
Speaker 3: you're gonna do. Not because I don't love her partner.
32:26
Speaker 3: I think her partner's great. I don't think they're going
32:28
Speaker 3: to break up. I think that they're in a really
32:30
Speaker 3: solid relationship. But Jess is the one putting forward a
32:33
Speaker 3: deposit and he's going to move into the hat. Like
32:35
Speaker 3: there's a lot of things that I go, we as
32:37
Speaker 3: women need to be protecting ourselves and making sure we're
32:40
Speaker 3: in the best possible position, even if the relationship we're
32:43
Speaker 3: in is one hundred percent sound yeah, Like these are
32:45
Speaker 3: things we need to be considering because I don't think
32:48
Speaker 3: anyone gets married because they go like it's all good,
32:50
Speaker 3: let's beend like what one hundred grand on a wedding
32:52
Speaker 3: or something for us to get a divorce later. Like,
32:55
Speaker 3: no one gets married if they think they're going to
32:57
Speaker 3: get divorced. No one goes into a relationship. And says
32:59
Speaker 3: Jeff let's move in together. I love you so much
33:03
Speaker 3: to have to go through the pain of breaking up
33:07
Speaker 3: and moving out and being like, are these your pots
33:09
Speaker 3: or my pots?
33:09
Speaker 2: Who gets the microwave?
33:11
Speaker 3: No one wants that, right, Like, you don't get into
33:13
Speaker 3: a relationship because you know it's going to end. So
33:16
Speaker 3: I think we always get into things with the best intentions,
33:19
Speaker 3: and as humans, we are internally very optimistic about relationships.
33:25
Speaker 3: But I think that we need to protect ourselves no
33:27
Speaker 3: matter how much we love someone. And that can feel
33:30
Speaker 3: negative because you're like, I don't want to bring up
33:32
Speaker 3: what's going to happen with my partner if we.
33:34
Speaker 2: Break up, but you have to. They're the rules I
33:36
Speaker 2: made them, so I.
33:38
Speaker 4: Feel like I've got nothing else to add.
33:40
Speaker 2: I think that's very, very thorough and well sigh again.
33:44
Speaker 3: If you want more information on inheritance, we have done
33:47
Speaker 3: a couple of podcasts on them, and we'll make sure
33:49
Speaker 3: that the links to those podcasts are in the show
33:51
Speaker 3: notes this week, because I think it's an important topic. Like,
33:54
Speaker 3: at the end of the day, it could be five
33:56
Speaker 3: hundred dollars, it could be five hundred million dollars, but
33:58
Speaker 3: that money needs to be treated with respect and I
34:01
Speaker 3: think that often we get analysis paralysis around these things.
34:06
Speaker 3: And I've said it before, we often also carry a
34:10
Speaker 3: lot of guilt when we have an inheritance about you know,
34:13
Speaker 3: honoring it and doing the right thing with it. And
34:15
Speaker 3: you know, I think that's a really big topic that
34:17
Speaker 3: if you know you're in that position, please do some
34:20
Speaker 3: more research.
34:21
Speaker 2: Yeah, completely agree, let's soul we should we Yeah, one
34:27
Speaker 2: time of the week, Beck, you are right.
34:29
Speaker 3: I think it is time to slide on into something juicy.
34:32
Speaker 3: Are you ready for this week's money dilemma?
34:34
Speaker 4: Yes?
34:35
Speaker 2: All right, let's go. So here's the DM that we received.
34:39
Speaker 3: Hey, team, question for you travel related and then the
34:42
Speaker 3: like little aeroplane emoji. I'm going away to Bali with
34:45
Speaker 3: a friend and all has been locked in for a while.
34:47
Speaker 3: Now we are spending two weeks together before going our
34:50
Speaker 3: separate ways.
34:50
Speaker 2: To do further travel. Very nice, all right.
34:54
Speaker 3: She has had a last minute change to itinerary, which
34:57
Speaker 3: now means she'll leave me two nights earlier than we
35:00
Speaker 3: had planned. For this accommodation, we were paying two hundred
35:03
Speaker 3: dollars a night each, so a total of four hundred dollars.
35:06
Speaker 3: We were splashing a little bit because this was our
35:08
Speaker 3: final destination. Now she's leaving, she said that she won't
35:12
Speaker 3: be paying her half of the room we have already booked.
35:15
Speaker 3: I can't afford it on my own, so I'll have
35:17
Speaker 3: to change accommodation, which is really annoying for me. But
35:21
Speaker 3: on top of this, as it's such a last minute change,
35:24
Speaker 3: I'm talking this is next week. Other accommodation is looking
35:28
Speaker 3: at being about three hundred dollars a night on my own.
35:31
Speaker 3: She isn't willing to put anything in, but I think
35:33
Speaker 3: she should. What do you think and what do you
35:35
Speaker 3: think I should do? Oh, you gotta pay for it.
35:39
Speaker 2: Exactly before it is crazy.
35:42
Speaker 3: Yeah, like you can cancel it, like as she's saying,
35:44
Speaker 3: like everything else is really expensive and also leaving a
35:47
Speaker 3: week out, you kind of like staff for options. But
35:50
Speaker 3: when I was in Japan, I kind of told my friends,
35:53
Speaker 3: like I don't know that I'll make it to the
35:54
Speaker 3: last leg, but everything I'd already been booked, so obviously
35:57
Speaker 3: I'm going to pay for it. Like there is the
36:00
Speaker 3: it's not even a question like that's.
36:01
Speaker 2: So I agree.
36:03
Speaker 3: You just you obviously got to pay for it. Otherwise,
36:05
Speaker 3: like this listener's whole plan would have been different. I'm
36:09
Speaker 3: sure they would have maybe like gone somewhere else and
36:10
Speaker 3: just like left later or whatever. You just you must,
36:14
Speaker 3: there's no question about. It's black and white.
36:15
Speaker 2: You must. But how do you deal with that? Now,
36:18
Speaker 2: that's that's a tricky thing.
36:19
Speaker 3: Well, I feel like shooting them in the foot as well,
36:22
Speaker 3: because it's like, all right, well, if you're not going
36:24
Speaker 3: to be there for the last two days, we are
36:25
Speaker 3: planning and going our separate ways. But even if she
36:28
Speaker 3: wanted to fly home early and go, all right, well,
36:31
Speaker 3: I can't afford that accommodation, Like I'm just going to
36:33
Speaker 3: go home a little bit earlier.
36:35
Speaker 2: She's probably gonna.
36:36
Speaker 3: Have to pay fees to change her flights, like yeah,
36:38
Speaker 3: and fee changes on flights are expensive, so it'll probably
36:42
Speaker 3: cost her four hundred bucks to do that anyway, So
36:44
Speaker 3: I just feel like that's not fair. Like I can
36:47
Speaker 3: see that her friends like, oh, plans have changed, but
36:50
Speaker 3: also you agreed to that, Like you can't just back
36:53
Speaker 3: out and be like, oh, by the way, you're in
36:55
Speaker 3: a foreign country and now you're going to have to
36:57
Speaker 3: change accommodation. I don't know about her, but I also
37:02
Speaker 3: at four hundred dollars a night in Bali. That's expensive
37:06
Speaker 3: to me. I don't know if that's just you guys,
37:10
Speaker 3: Like I don't know what your previous budget for accommodation was,
37:12
Speaker 3: Like you know, you could spend thirty dollars a night
37:14
Speaker 3: in Bali and get something, and you could also spend
37:16
Speaker 3: a thousand dollars a night, so who knows. But I'm
37:19
Speaker 3: the type of person that likes to feel really safe
37:22
Speaker 3: and secure when I'm traveling, especially in foreign countries, So
37:26
Speaker 3: I wouldn't have been okay with like a thirty dollars
37:28
Speaker 3: a night option. So like maybe that four hundred dollars
37:31
Speaker 3: was being spent because it was like, you know, the safe, secure,
37:34
Speaker 3: and now you're going to leave your friend hyen dry
37:36
Speaker 3: to go and find more accommodation and spend beyond her
37:39
Speaker 3: means to have that same level of safety. Like I
37:42
Speaker 3: don't know, I don't feel okay about that.
37:43
Speaker 4: No, I'd be curious to know why she changed, Like
37:46
Speaker 4: did an emergency come up and she's got to get
37:48
Speaker 4: home early because someone's done well? Is she just deciding
37:52
Speaker 4: that she wants to go to a different country because
37:54
Speaker 4: it's close by, Like I think that that definitely plays
37:57
Speaker 4: into it, and it sounds like maybe she hasn't thought
37:59
Speaker 4: about it, because if they can change their accommodation, I'm
38:02
Speaker 4: assuming that maybe it's one of those maybe you pay
38:06
Speaker 4: a small deposit upfront and you pay the balance when
38:09
Speaker 4: you get there, and so maybe the friend has just gone, oh, well,
38:11
Speaker 4: we haven't paid for it yet, right, so like it's
38:14
Speaker 4: not like you're out there. Maybe it hasn't computed in
38:17
Speaker 4: her brain, yeah, decision, and maybe she just kind of went, oh, like,
38:21
Speaker 4: it'll be easy, Like you can just find something by yourself,
38:23
Speaker 4: like we've done all of the rest of the trip cheaper,
38:26
Speaker 4: you know, you'll be fine, so like, which I think
38:29
Speaker 4: is very selfish, don't get me wrong, But maybe the
38:32
Speaker 4: way that our listener can approach it is to kind
38:34
Speaker 4: of highlight these things and say, hey, like I've looked,
38:36
Speaker 4: there are no other options. It's going to be so
38:38
Speaker 4: expensive that I can't afford it, Like you're really kind
38:41
Speaker 4: of screwing me over effectively by doing this, and we
38:44
Speaker 4: had agreed and it's so soon that there's not much
38:47
Speaker 4: that I can do. I feel like that's how I
38:50
Speaker 4: would kind of approach bringing it up, because I agree,
38:52
Speaker 4: like I think it's very unfair to do that to somebody,
38:55
Speaker 4: and if you had to change plans, if it was me,
38:57
Speaker 4: I would say, oh, well, I'll still pay my half.
38:59
Speaker 4: It is but maybe you know, to play devil's advocate.
39:03
Speaker 4: Maybe the friend has just not realized the impact. Has gone,
39:06
Speaker 4: Oh well, if we haven't paid for the accommodation, it's fine,
39:08
Speaker 4: Like it's not like you're out of pocket.
39:11
Speaker 2: Not really think it's the week before that's yeah.
39:14
Speaker 3: And I can tell that they've already had this conversation
39:17
Speaker 3: as well, because she said she isn't willing to put
39:19
Speaker 3: anything in, but I think she should, because that's telling
39:22
Speaker 3: me that you've already had the conversation and she said, well,
39:25
Speaker 3: I'm not willing to do that, Like what are you
39:27
Speaker 3: talking about? So this is like a secondary conversation. So
39:31
Speaker 3: to me, that's even harder. It's not like, oh, I
39:32
Speaker 3: think she should put something in. How do I approach it?
39:35
Speaker 3: Like this is the second these said no, How do
39:39
Speaker 3: I go back to her and say, well, actually, I
39:41
Speaker 3: really think you should be doing this.
39:43
Speaker 2: I don't know. It's an awkward conversation to have as.
39:45
Speaker 4: Well, like, but also, what do you do? She just
39:47
Speaker 4: said if she sticks for guns and says no, like
39:49
Speaker 4: you can't shake her down, Like it's kind of the
39:53
Speaker 4: potentialist of the trip to Ruin. Yeah, the experience while traveling,
39:57
Speaker 4: which is a little bit of a concern.
40:00
Speaker 2: Yeah, I don't like that at all.
40:01
Speaker 3: I feel like she definitely should be paying for her
40:04
Speaker 3: part because that was what was agreed to when you
40:06
Speaker 3: booked the trip, when you booked flights and accommodation. It's
40:09
Speaker 3: not oh, my friend's decided that her budget is different. Like,
40:12
Speaker 3: I've just gotten back from a holiday, as you guys know,
40:15
Speaker 3: and for part of that holiday, my best friend Rose
40:17
Speaker 3: she joined us. But it was a conversation that we had.
40:22
Speaker 3: I said, okay, like how much are we budgeting per
40:24
Speaker 3: head for this trip before we even booked the accommodation,
40:28
Speaker 3: And she was like, oh, I want to spend about
40:30
Speaker 3: this much, you know, per head, And I said, great,
40:32
Speaker 3: no worries. And then you know, obviously I've got me
40:35
Speaker 3: and Steve and Harvey like we were working it all out.
40:37
Speaker 3: We stayed in an apartment together, but we'd had that
40:41
Speaker 3: solid conversation. If she'd backed out, let's be honest, like
40:45
Speaker 3: she wouldn't. That's not very her. But like, I have
40:48
Speaker 3: no doubt she'd be like, well, we agreed to a
40:50
Speaker 3: certain amount and then you went and booked this like
40:52
Speaker 3: particular apartment because it accommodated all of us. Like, I
40:56
Speaker 3: feel like she would be like, I can't come that,
40:58
Speaker 3: I'm going to pay for my part.
40:59
Speaker 2: Yeah, that's just how that would work. So I just
41:01
Speaker 2: look at it and go.
41:03
Speaker 3: I'd be pretty miffed too if someone backed out and
41:05
Speaker 3: I was up for more money for something that could
41:08
Speaker 3: have been different from the beginning.
41:10
Speaker 4: Yeah, totally. What did everybody else say?
41:12
Speaker 3: So we went to the community as always, because we
41:14
Speaker 3: want to know what you think about this, Like we've
41:16
Speaker 3: got to get the tea. So we said, have you
41:19
Speaker 3: traveled with a friend before and run into disagreements about money?
41:22
Speaker 3: Forty three percent of you said yep, I swear it
41:25
Speaker 3: happens every time, And fifty seven percent of you said nope,
41:29
Speaker 3: I've had no issues.
41:30
Speaker 2: So it's beIN us, sat.
41:31
Speaker 3: Fifty seven percent of people, could you, ah, just give
41:34
Speaker 3: us your tips and tricks for not having that happen,
41:36
Speaker 3: because I've traveled with friends before and there's always conversations
41:40
Speaker 3: about money.
41:41
Speaker 2: Yeah, there's always like a oh, we want to go
41:44
Speaker 2: and do XYZ and someone's like, no, the tickets are
41:46
Speaker 2: too expensive. I don't want to do that.
41:48
Speaker 3: I want to do this, and then you go, well,
41:50
Speaker 3: I'm not willing to spend that on this, like it
41:52
Speaker 3: happens every time.
41:54
Speaker 2: We also asked, do you think.
41:56
Speaker 3: The friend who is leaving should still contribute money towards
41:59
Speaker 3: the accommodation In a surprise to not anybody sitting at
42:03
Speaker 3: this table, eighty six percent of you said yep, it's
42:06
Speaker 3: unfair to pull out so last minute. But fourteen percent
42:09
Speaker 3: of you said nope, they aren't staying there at all,
42:12
Speaker 3: so they shouldn't pay.
42:13
Speaker 2: Well, fourteen percent.
42:15
Speaker 4: Of you don't want to go on holiday with you.
42:20
Speaker 3: You're not invited on friend's script trip like not happening.
42:23
Speaker 2: No, no.
42:25
Speaker 3: We then said give us your two cents because obviously
42:28
Speaker 3: we're going to need that any more.
42:29
Speaker 2: Thoughts. Who's in the wrong here?
42:31
Speaker 3: And you guys had opinions, so let's read out a
42:36
Speaker 3: few of them. Someone said, if you don't have four
42:40
Speaker 3: hundred dollars extra for potential travel emergencies, probably shouldn't be traveling. Okay,
42:45
Speaker 3: but savage but true from my perspective, unless you're beck Yolo.
42:51
Speaker 3: Absolutely going back on that before I read out the
42:54
Speaker 3: next one. But you wouldn't do that to a friend.
42:56
Speaker 2: No, I wouldn't do that.
42:57
Speaker 3: No, you might not have an additional four hundred dollars,
42:59
Speaker 3: but you're not going to not pay for what you
43:01
Speaker 3: agreed to.
43:01
Speaker 2: Is that right exactly?
43:02
Speaker 3: But also if someone had done it to me and
43:04
Speaker 3: I didn't have an extra four hundred to pay their bit, yeah, yeah,
43:07
Speaker 3: I would probably be screwed. But that doesn't I shouldn't
43:10
Speaker 3: be penalized for and be like, oh you, well, you
43:12
Speaker 3: shouldn't be traveling anyway if you get exactly, if you
43:15
Speaker 3: don't have any wiggle room.
43:16
Speaker 2: I agree.
43:16
Speaker 3: I agree, it's up to you, but it shouldn't be
43:18
Speaker 3: your responsibility totally. Someone said, there's so many accommodation options
43:22
Speaker 3: in BALI op finds something mid price and lux for
43:25
Speaker 3: the same amount.
43:26
Speaker 2: It's a good point.
43:27
Speaker 3: You definitely could do that, but I don't think that's
43:29
Speaker 3: fair to have to do that. Someone said the friend
43:32
Speaker 3: needs to fork out for changing plants. That's the cost
43:35
Speaker 3: of them changing their plans. Someone said she should still
43:39
Speaker 3: offer to pay for the accommodation, given she's pulling out
43:41
Speaker 3: last minute. Someone else said, I would suggest looking for a.
43:45
Speaker 2: New place, and then if that's not feasible, saying I
43:48
Speaker 2: would cover it. I think that's fair.
43:51
Speaker 3: I go, Beck, is there any chance you could change
43:53
Speaker 3: accommodation to something cheaper so that, like, I don't have
43:56
Speaker 3: to spend this, right, that would be a nice way
43:58
Speaker 3: of putting it. And then if I go, look, I
44:00
Speaker 3: really couldn't find anything, it's still going to put me out,
44:02
Speaker 3: all right, no worries, I'll cover your part. That could
44:05
Speaker 3: be an easier way of going about it. Then everybody
44:07
Speaker 3: might end up happy.
44:08
Speaker 4: Yeah, but she said she looked and there wasn't really
44:10
Speaker 4: anything available. She said that it was going to cost
44:12
Speaker 4: at least three hundred dollars. Yeah, but that's clearly not
44:14
Speaker 4: how the conversation went. Yeah, could have been a way
44:17
Speaker 4: to approach it to begin with. Someone else said they're
44:20
Speaker 4: going to Bali. There's how many nice villas for like
44:23
Speaker 4: fifty dollars a night. If you could send me those
44:25
Speaker 4: villas that if a group trip you guys see, someone
44:29
Speaker 4: said it would suck. But would you want to pay
44:31
Speaker 4: for a hotel when you're not staying there? No way,
44:34
Speaker 4: I mean no, But it's not about paying for a
44:36
Speaker 4: hotel when you're not there, it's about paying for as
44:38
Speaker 4: you said, changing your plans.
44:40
Speaker 3: Yeah, Like, if you didn't want to be up for
44:42
Speaker 3: that cost, don't change your plan. Like, I don't know
44:46
Speaker 3: what your plan was, and as you said before, Jess,
44:48
Speaker 3: we don't know. It could be Yeah, it could be
44:50
Speaker 3: an emergency, and like you know, she has to spend
44:53
Speaker 3: money on flights home, But like, I don't think that's
44:56
Speaker 3: the case here. And we're just assuming it's because she's
44:58
Speaker 3: gotten a better offer, is what I'm going to assume. Yeah,
45:01
Speaker 3: she's gotten a better off us she wants to go
45:02
Speaker 3: somewhere else with a different friend. Now, Like, no, I
45:06
Speaker 3: don't necessarily agree. I think that while it does suck,
45:10
Speaker 3: you have to pay that fee for changing your plans,
45:14
Speaker 3: and if you can't afford that, well, don't change your plans. Yeah,
45:17
Speaker 3: someone else said the friend should be paying the difference
45:19
Speaker 3: of the one hundred dollars a night for the three
45:21
Speaker 3: hundred dollars hotel.
45:22
Speaker 4: Oh, that's potentially a good compromise. So instead of paying
45:26
Speaker 4: two hundred bucks, you pay one hundred your friend.
45:28
Speaker 2: Doubt everyone kind of wins a little bit.
45:30
Speaker 3: Yeah, Yeah, And then the last one I'll share is
45:33
Speaker 3: if you don't have a cash buffer, you shouldn't be
45:35
Speaker 3: going on holiday, which seemed to be a conversation that
45:38
Speaker 3: lots of people wanted to have.
45:39
Speaker 2: But Beck disagrees, So I disagree. You just got to
45:42
Speaker 2: go on wing it.
45:43
Speaker 3: But that's why money is so fickle, right, Like you
45:47
Speaker 3: shouldn't and it's all about financial literacy. And I say
45:50
Speaker 3: you shouldn't because from my perspective you shouldn't, but you
45:54
Speaker 3: go yolo. I know that that's your opinion, Victoria, and
45:57
Speaker 3: I do it anyway. And it's like, jes you've said
45:59
Speaker 3: before that how many cents did you have in your
46:01
Speaker 3: account when you came back?
46:02
Speaker 4: You could it's like thirty six cents or something. Couldn't
46:06
Speaker 4: get a chocolate bar at the air.
46:07
Speaker 2: For But like we've all been there, Yeah, does that
46:10
Speaker 2: mean we shouldn't have done it? Yeah?
46:11
Speaker 3: Well, I mean, in hindsight, we probably shouldn't be better prepared.
46:15
Speaker 2: But did you die? No? No, exactly, so a great time. Yes,
46:20
Speaker 2: don't get me wrong.
46:20
Speaker 3: My job is to give you the financial literacy that
46:23
Speaker 3: I think you deserve.
46:24
Speaker 2: What you do with it up to you, babes.
46:26
Speaker 3: Yeah, you want to go on holiday to Japan and
46:29
Speaker 3: not have any buffer and you're comfortable with that.
46:31
Speaker 2: I'm proud of you, Thank you so much.
46:33
Speaker 3: But you know yes, Like I know, I don't want
46:35
Speaker 3: to say you know better, but you know what, my
46:37
Speaker 3: opinion as a financial expert actually looks like yes, and
46:41
Speaker 3: you're given the opportunity to choose. I don't think it's
46:44
Speaker 3: fair when you don't have the opportunity to choose the
46:46
Speaker 3: best thing for you.
46:47
Speaker 2: I feel like this is.
46:48
Speaker 4: A very good lesson, ultimately in why you should have
46:51
Speaker 4: a buffer, ideally when you travel, because you never know
46:55
Speaker 4: when something like this is going to happen, or when
46:57
Speaker 4: you're gonna hurt yourself and you need to fly home
46:59
Speaker 4: like whatever. Like our listener is saying, she literally can't
47:03
Speaker 4: pay for this accommodation. Well, is the choice going to
47:05
Speaker 4: be between either you know, ending up in some real sketch,
47:10
Speaker 4: last minute twenty dollars, Not that being cheap means it's sketchy,
47:13
Speaker 4: but you know, just finding something she can afford that
47:16
Speaker 4: maybe even the safest option, or like convincing her friend
47:20
Speaker 4: to stay like that. I guess to me, it's it's
47:22
Speaker 4: such a good example of why that buffer is important
47:25
Speaker 4: so that you're not stuck with that choice of like, Oh,
47:27
Speaker 4: if my friend doesn't pay me, what do I do?
47:30
Speaker 3: Yeah, exactly, And that's not something travel insurance is going
47:33
Speaker 3: to cover. Yeah, Like, that's not how that works. And
47:35
Speaker 3: I guess that's where I want to leave it. If
47:37
Speaker 3: you can afford to travel, you can afford travel insurance.
47:41
Speaker 3: That's all I'll say about that. You don't want to
47:43
Speaker 3: have a buffer, I don't care. Just have travel insurance.
47:45
Speaker 3: That's my only non negotiable when it comes to travel.
47:48
Speaker 3: I just want you to have the financial education. What
47:50
Speaker 3: you do with it is actually none of my business.
47:53
Speaker 3: So let's leave it there.
47:54
Speaker 2: Guys.
47:55
Speaker 3: I hope you have the best weekend and we'll see
47:56
Speaker 3: brighton early on Monday for a money diary.
48:00
Speaker 2: I am back and I am so excited about it. Guys,
48:03
Speaker 2: see you soon, by guys.
48:04
Speaker 4: Bye.
48:11
Speaker 3: The advice shared on She's on the Money is general
48:13
Speaker 3: in nature and does not consider your individual circumstances. She's
48:17
Speaker 3: on the Money exists purely for educational purposes and should
48:21
Speaker 3: not be relied upon to make an investment or financial decision.
48:24
Speaker 3: If you do choose to buy a financial product, read
48:27
Speaker 3: the PDS TMD and obtain appropriate financial.
48:30
Speaker 2: Advice tailored towards your needs.
48:32
Speaker 3: Victoria divine and She's on the money are authorized representatives
48:36
Speaker 3: of money. Sheper pty Ltd ABN three two one is
48:40
Speaker 3: six four nine two seven seven zero eight AFSL four
48:44
Speaker 3: five one two eight nine