Latest / She's On The Money / Should You Salary Sacrifice Into Super Or Save For a House? Plus a Spicy Sibling Debate About Financial Fairness

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Should You Salary Sacrifice Into Super Or Save For a House? Plus a Spicy Sibling Debate About Financial Fairness · She's On The Money

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  Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
• 0:03
  Speaker 1: woman and I'm here to acknowledge country t Glenn Young
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  Speaker 1: Ganya Niana, kaka ya Ya bin Ahaka nian Ar gay
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  Speaker 1: In Nimbina yakarum jar dominyamiga Umagahawakaman damon imlan Wumba bang
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  Speaker 1: Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
• 0:22
  Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
• 0:26
  Speaker 1: We thank I acknowledge and respect the Aberiginal people's land
• 0:29
  Speaker 1: that we're gathering on today. Take pleasure in all the
• 0:31
  Speaker 1: land and respect all that you see. She's on the
• 0:35
  Speaker 1: Money podcast acknowledges culture, country, community and connections, bringing you
• 0:41
  Speaker 1: the tools, knowledge and resources for you to thrive.
• 0:45
  Speaker 2: She's on the Money. She's on the Money.
• 1:07
  Speaker 3: Hello and welcome to She's on the Money, the podcast
• 1:10
  Speaker 3: that makes personal finance fun, especially on Fridays. It is
• 1:14
  Speaker 3: our favorite day of the week because I get to
• 1:16
  Speaker 3: get my team together and celebrate you our incredible She's
• 1:20
  Speaker 3: on the Money. Community is Jess Garricky's That sounds weird.
• 1:24
  Speaker 2: I can't say it that way.
• 1:26
  Speaker 3: That's how you say it when you're just normally talking.
• 1:28
  Speaker 3: That's how the people want me to say it. I
• 1:30
  Speaker 3: can't do that enough. Just Reach is going to be
• 1:34
  Speaker 3: sharing our favorite money wins. Miss beck Sayeed is back
• 1:37
  Speaker 3: and she's going to be sharing her broke tips, and
• 1:39
  Speaker 3: we're going to be helping to answer a juicy money
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  Speaker 3: dilemma about whether you should be salary sacrificing into your
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  Speaker 3: super or focusing on other goals. And something that you
• 1:48
  Speaker 3: slid into our DMS about a spicy sibling drama about
• 1:52
  Speaker 3: your sister getting money that isn't being given to you. Oh,
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  Speaker 3: I just have thoughts and feelings. I believe values about
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  Speaker 3: that one.
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  Speaker 4: I do.
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  Speaker 3: I do, and I can't wait to get there. But
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  Speaker 3: before we get there, my friend's team question from the community. Yeah,
• 2:09
  Speaker 3: I got to ask you a question, but they have
• 2:11
  Speaker 3: been rolling in hot and heavy. Apparently the community have
• 2:15
  Speaker 3: a lot of questions for you guys, And if you
• 2:17
  Speaker 3: didn't listen to last week's show, I've started a new
• 2:20
  Speaker 3: segment and instead of saying to my team, how are you,
• 2:23
  Speaker 3: I say, hey, here's a question from our community, and
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  Speaker 3: I don't give them any warning. Yes, it's my favorite
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  Speaker 3: part about it. So I've been putting out a call
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  Speaker 3: for all your burning questions for jess and Beck and
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  Speaker 3: I might even get involved sometimes, and they've been rolling in.
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  Speaker 3: So this week's question is from our friend Grace, and
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  Speaker 3: Grace wants to know what is your best second hand
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  Speaker 3: slash op shop slash marketplace find that you have found
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  Speaker 3: in the last twelve months and how much money did
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  Speaker 3: it cost. I just thought this was a good one,
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  Speaker 3: because good one, Beck, the Queen of Marketplace, is actually
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  Speaker 3: Miss Jessica Rich.
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  Speaker 2: Marketplace.
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  Speaker 3: Fine, I'm trying.
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  Speaker 5: I've had some good like fun this year, but I
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  Speaker 5: still think my best find it has not been in
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  Speaker 5: the last twelve months. I when to say, anyway, it
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  Speaker 5: was my I've got a full dinner set from in
• 3:10
  Speaker 5: the Roundhouse, like pieces, sixteen pieces, how many pieces it is,
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  Speaker 5: And I wanted this specific that they do these beautiful
• 3:17
  Speaker 5: scollop plates for anyone who doesn't know. And there were
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  Speaker 5: two colors that I really wanted. I still want the
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  Speaker 5: pink and then there's like a white with a red trim.
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  Speaker 5: And I found the exact set that I wanted for
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  Speaker 5: one hundred and twenty dollars. When I think full price
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  Speaker 5: they retail for about two hundred and fifty.
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  Speaker 2: Oh in the box, every single piece.
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  Speaker 5: The original listing said that it was missing the platter,
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  Speaker 5: and I was like, oh, that's fine, I don't need
• 3:40
  Speaker 5: the platter. And then when I got it, the platter
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  Speaker 5: was in there. So I don't know what happened, but
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  Speaker 5: literally just thought it was a large plate. Maybe maybe
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  Speaker 5: lucky gal energy was with me because I've been hunting
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  Speaker 5: for that thing.
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  Speaker 2: Goes, how about you?
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  Speaker 6: Well, this is the thing is that I really am
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  Speaker 6: into metal at the moment, like functional metal, not TACKI metal.
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  Speaker 6: That's like because metals kind of in for like decor
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  Speaker 6: I'm talking about.
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  Speaker 2: It's kind of in right imagining, like yes, you are
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  Speaker 2: so cute.
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  Speaker 5: What do you do that?
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  Speaker 2: It's like okay, you've never been to.
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  Speaker 6: And that's okay, but no, like you know, like a
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  Speaker 6: metal teapot or something that like, yes, I see, yeah
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  Speaker 6: it was made that way to begin with, like years ago,
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  Speaker 6: because that's kind of the only resource we had, and
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  Speaker 6: like I'm really into that stuff, and so like finding
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  Speaker 6: that now from like older people who don't realize how
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  Speaker 6: cool it is. And so I found this like fruit
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  Speaker 6: bowl that is it's not gonna make sense right now,
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  Speaker 6: but it's like metal, and it like it goes upward
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  Speaker 6: and it just it's almost like a palm.
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  Speaker 2: It's almost like fingers are holding It's just it was
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  Speaker 2: ten dollars because no one knows that this stuff is
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  Speaker 2: so cool.
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  Speaker 6: I shouldn't be saying it on here because if it's
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  Speaker 6: like old, you've barely used it. It's from like the
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  Speaker 6: nineteen seventies. It's like a metal fruit bowl that is
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  Speaker 6: so cool and I really want to get my hands
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  Speaker 6: it anyway.
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  Speaker 2: That I just found that the other day.
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  Speaker 6: But the greatest thing about the stories that I realized
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  Speaker 6: that we have a suburb called Dallas in Melbourne and
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  Speaker 6: where I picked it up from, and that's my favorite buy.
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  Speaker 2: That's so good. It was really cool. So metal.
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  Speaker 3: Okay, so this is really niche and you're going to
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  Speaker 3: be like, what the hell, Victoria, I'm really excited about it.
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  Speaker 3: So maybe like three or four months ago, I just
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  Speaker 3: had this flashback memory of an egg maker that I
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  Speaker 3: had when I still lived at home. I haven't lived
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  Speaker 3: at home for like ages now, like I moved out
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  Speaker 3: when I was eighteen, and I remember being like I
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  Speaker 3: had this it was a Sunbeam egg cooker. The bottom
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  Speaker 3: was white, the top was like a yellow, kind of
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  Speaker 3: like completely like transparent yellow. It has little chicken feet.
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  Speaker 3: And it was by Sunbeam and it was like a
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  Speaker 3: snack series thing, so it was like novel tea right,
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  Speaker 3: And inside it it had these cups and you could
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  Speaker 3: poach three eggs without any like you would fill the
• 6:02
  Speaker 3: base with water, poached the three eggs. If people are listening,
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  Speaker 3: and this triggers a memory, oh my god, it was
• 6:08
  Speaker 3: so good anyway, So it was this egg poacher thing, right,
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  Speaker 3: and when the eggs are ready, the little egg chirps,
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  Speaker 3: and I was like, oh my god, that would be
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  Speaker 3: so helpful nowadays, because like my son eats a lot
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  Speaker 3: of eggs. I also low key loved that. I ate
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  Speaker 3: a lot of eggs. And I was like, I wonder
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  Speaker 3: if you can still buy it. I Google, you cannot
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  Speaker 3: buy that. You can buy egg poaches. They are a
• 6:27
  Speaker 3: lot more fancy, They're a lot more durable. This thing
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  Speaker 3: is like quite little, right, like smaller than a football.
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  Speaker 3: Good for storage, good yeah, good for the covered. So
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  Speaker 3: I'm like, oh my god, I need to find this,
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  Speaker 3: and so I looked on marketplace. Absolutely not like this
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  Speaker 3: thing is more than fifteen years old, like not a thing.
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  Speaker 2: Oh wow.
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  Speaker 3: And then because I'd searched it Marketplace recommended, when one
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  Speaker 3: popped up, said you might like you know, it's like
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  Speaker 3: it sends you like listings. Anyway, Robert in New South
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  Speaker 3: Wales was selling one for fifteen dollars new in box.
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  Speaker 3: He'd pulled it out when he moved house. He had
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  Speaker 3: never used it. It came with the novelty egg cups.
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  Speaker 3: And I messaged him so quick. I was like, Hi, Robert,
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  Speaker 3: miss me. It's me. I'll buy this from you, but
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  Speaker 3: I'm happy to pay whatever in shipping you're in New
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  Speaker 3: South Wales And he was like, oh, I'll just go
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  Speaker 3: to the post office. Ten dollars eighty later it was
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  Speaker 3: shipped to my house by Robert, who looked like he
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  Speaker 3: joined Facebook before it existed. And I've got my egg poacher.
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  Speaker 2: Ah, that is real.
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  Speaker 3: That is my favorite thing. And I think it cost
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  Speaker 3: me about thirty dollars in total. That's so cool, vintch
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  Speaker 3: find that's so fun. I'll post a picture of it
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  Speaker 3: online because it's actually like the cutest thing ever. But
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  Speaker 3: it was like in this series that had the egg Poacher,
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  Speaker 3: there was like a fairy floss machine was a I
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  Speaker 3: think I had the fairy popcorn maker.
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  Speaker 2: Yeah, yeah, sounds familiar.
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  Speaker 6: Yeah, And don't sleep on gum tree because a lot
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  Speaker 6: of those things are probably on gum tree because people
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  Speaker 6: who don't realize marketplaces a thing are the same type
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  Speaker 6: of people selling these old school things.
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  Speaker 1: True.
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  Speaker 3: What a fun confo So yeah, anyway, I'm glad that
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  Speaker 3: Grace's burning question because I got to tell you guys
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  Speaker 3: about my egg poacher. You are welcome. I want to
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  Speaker 3: get further into the show, though. Before we get there,
• 8:07
  Speaker 3: it is time for a five star review? Amazing Are
• 8:11
  Speaker 3: you ready ready? This one says just lots of love
• 8:15
  Speaker 3: five stars from Chloe jan long term listener here, smiley face.
• 8:19
  Speaker 3: It just wanted to write a review to show my
• 8:21
  Speaker 3: appreciation for your hard work and really solid financial advice.
• 8:24
  Speaker 3: I've taken on many of your strategies over the years.
• 8:27
  Speaker 3: A special mention to Beck sayed though the more I
• 8:31
  Speaker 3: listen to the podcast to the more my love for
• 8:33
  Speaker 3: her gross. She's so genuine, so vulnerable about her own finances.
• 8:39
  Speaker 3: Thank you for being so giving with your experience. It
• 8:41
  Speaker 3: ensures that everyone listening feels heard and seen. No matter
• 8:45
  Speaker 3: where they are on their financial journey. It also sounds
• 8:48
  Speaker 3: just like a really cool person. Smiley face.
• 8:52
  Speaker 2: So yes, thank you, thank you so much. Da, It's
• 8:54
  Speaker 2: so nice. Oh my god, you actually read my heart reach.
• 8:57
  Speaker 3: I love the addition of you actually sound like a
• 8:59
  Speaker 3: really cool person. She is, I'll ever be Ever, that's
• 9:04
  Speaker 3: not true.
• 9:06
  Speaker 2: That's you're true.
• 9:09
  Speaker 3: That are just inherently cool. I've got to try to
• 9:12
  Speaker 3: be cool. And even then my sister's like, sit.
• 9:14
  Speaker 2: That's not true, Victoria. I would, I would say, you're
• 9:17
  Speaker 2: call to the core.
• 9:19
  Speaker 3: But moving on, tell me more about the community, miss Jessegarich.
• 9:24
  Speaker 3: When it comes to community, money, wins and confessions, what
• 9:26
  Speaker 3: are you bringing to the table?
• 9:27
  Speaker 5: All right? First of this week, Amanda has the money
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  Speaker 5: when she went out for dinner and found a pub
• 9:32
  Speaker 5: where kids eat free.
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  Speaker 3: Okay, that is a good deal. In twenty twenty four, thirty.
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  Speaker 4: Two dollars in kids meals, which included a drink and
• 9:39
  Speaker 4: ice cream.
• 9:39
  Speaker 2: What sign me up for that?
• 9:42
  Speaker 3: Yes, here's a point. Can you go? Oh just gives
• 9:45
  Speaker 3: me all thanks.
• 9:46
  Speaker 5: I'm really young, amoside. I promise I am not yet mature. Next,
• 9:50
  Speaker 5: I've got a money win from Anya, he said, money win.
• 9:52
  Speaker 5: I hit ten thousand dollars invested between Chersias and Vanguard,
• 9:56
  Speaker 5: She's hit five. I know she would have imagined that
• 9:59
  Speaker 5: she could do that with savings aside too.
• 10:02
  Speaker 3: That's going to be soon. I know you're a huge progress.
• 10:05
  Speaker 3: Beck has just hit more than one thousand dollars.
• 10:07
  Speaker 2: That's amazing.
• 10:10
  Speaker 3: Energy.
• 10:11
  Speaker 2: Sorry, who was.
• 10:12
  Speaker 3: Going to say, oh, miss Beck sayed has more than
• 10:15
  Speaker 3: a thousand dollars invested in less than twelve months. Crazy,
• 10:19
  Speaker 3: but she's rich now, I guess you could say that, yeah,
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  Speaker 3: one hundred percent.
• 10:24
  Speaker 2: Well done.
• 10:25
  Speaker 5: Next, I've got a money win from Ballot, who said
• 10:26
  Speaker 5: she hit her emergency savings goal this week. She's been
• 10:29
  Speaker 5: pouring every extra dollar she has in since January and
• 10:32
  Speaker 5: finally reached three months of her earnings set aside.
• 10:35
  Speaker 2: Incredible, people are.
• 10:36
  Speaker 4: Kicking goals towards the into the year.
• 10:38
  Speaker 2: Well done, totally.
• 10:39
  Speaker 5: Next, I've got a money win from Renee who said
• 10:41
  Speaker 5: she invested in three bee hives and now she has
• 10:44
  Speaker 5: a side hustle selling honey.
• 10:46
  Speaker 4: And she provided us a video of said honey.
• 10:49
  Speaker 2: It looks very beautiful.
• 10:50
  Speaker 3: Very that is so wholesome. I know, last week we
• 10:54
  Speaker 3: were talking about cows. This week we're talking about getting
• 10:56
  Speaker 3: bees sleeping. I just do you guys want to get farm?
• 11:00
  Speaker 2: I was loved nothing more.
• 11:01
  Speaker 4: Yeah, I like that.
• 11:02
  Speaker 3: Yeah chickens. Can we get duck?
• 11:04
  Speaker 4: Yeah?
• 11:04
  Speaker 3: Absolutely, I really want a pet duck.
• 11:06
  Speaker 2: We can get ducks.
• 11:06
  Speaker 3: You are really cool.
• 11:08
  Speaker 5: Last of this week, I've got a money winter from Tests,
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  Speaker 5: who said she was looking at new light fittings last
• 11:12
  Speaker 5: week on Temple and Webster. They were ninety nine dollars each.
• 11:15
  Speaker 5: She looked again this morning after putting a bit of
• 11:17
  Speaker 5: time between her and her spending, and they were reduced
• 11:19
  Speaker 5: to seventy nine dollars. She said she'll be saving approximately
• 11:22
  Speaker 5: sixty dollars across all of the lights that she has
• 11:24
  Speaker 5: to buy, which is proof that resisting impulse buying is
• 11:27
  Speaker 5: a good thing.
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  Speaker 6: Gorgeous, well done, Tests, Yes, good twenty four hour trick.
• 11:32
  Speaker 4: It always works, that's it.
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  Speaker 2: Which will be very.
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  Speaker 3: Very proud of you one thousand percent. But you know
• 11:36
  Speaker 3: what else I want, Miss becsay Ed's broke tips, and
• 11:39
  Speaker 3: I give those to you.
• 11:40
  Speaker 2: I give it to you right now.
• 11:41
  Speaker 3: Oh, look at her coming up.
• 11:43
  Speaker 2: Okay, So this.
• 11:44
  Speaker 6: First one comes from Francis, who says the way I
• 11:47
  Speaker 6: save money on growthries is by having a three week
• 11:49
  Speaker 6: roster on a white board in my kitchen with twenty
• 11:51
  Speaker 6: one dinners Blue week, Red week, Green week, then we
• 11:56
  Speaker 6: cycle back to the start. This means I have my
• 11:59
  Speaker 6: shopping list prepped ahead of time, and I always know
• 12:01
  Speaker 6: what I need to buy, so I can get extra
• 12:03
  Speaker 6: when things are on special, being confident that it will
• 12:05
  Speaker 6: get used and there is not going to be any wasted.
• 12:08
  Speaker 3: That's actually so smart.
• 12:10
  Speaker 6: And the next one comes from Ness who says, I
• 12:11
  Speaker 6: take my tod the Taikia for a fun morning out.
• 12:14
  Speaker 6: A lot of the rooms are set up for pretend
• 12:16
  Speaker 6: play for kids. Also meals half priced on Fridays and
• 12:19
  Speaker 6: already so cheap anyway, there was also a free place
• 12:22
  Speaker 6: center for kids at the front of the store with little.
• 12:24
  Speaker 2: Play kitchens and soft toys.
• 12:27
  Speaker 3: That's a great I know. That's actually wish that she'd
• 12:29
  Speaker 3: reminded me of that, not in November, but more like
• 12:32
  Speaker 3: in June when it started raining and I didn't know
• 12:34
  Speaker 3: what to do with my crazy eighteen months off.
• 12:36
  Speaker 2: Yeah, that's it, but free.
• 12:39
  Speaker 4: Totally occupy your home, loving thirty one year old friend.
• 12:42
  Speaker 2: Did I care for many hours on the weekend.
• 12:45
  Speaker 3: I'll be swinging past Jess's place picking her up, and
• 12:47
  Speaker 3: her and Harvey are having a play date and I
• 12:49
  Speaker 3: care he's going to crawl around and she's a cart.
• 12:53
  Speaker 6: Just a really quick mantion. Nessays that she did end
• 12:55
  Speaker 6: up buying the Gigantic Bear, which I always always you
• 12:58
  Speaker 6: guys know that big brown bear. It is so hard
• 13:01
  Speaker 6: to walk away from it. Yeah, one thousand percent. And
• 13:03
  Speaker 6: anytime you go, I think Jess is on the same
• 13:05
  Speaker 6: page as me.
• 13:06
  Speaker 3: But anytime you go to Ikea, you must take home
• 13:09
  Speaker 3: a bag of frozen meat balls. Yes, they're mashed potato,
• 13:13
  Speaker 3: they're like sauce, and they're gravy. Because nothing hits different
• 13:16
  Speaker 3: than Ikea Swedish meat balls. They're actually really budget friendly
• 13:20
  Speaker 3: as well. And sorry, quick meal from the freezer, we
• 13:23
  Speaker 3: love it. Gorgeous Ikea meal prepping sligh.
• 13:26
  Speaker 2: Maybe we'll get some of those today. So this next
• 13:29
  Speaker 2: one comes from me.
• 13:30
  Speaker 6: When you book a holiday, you have flights in accommodation
• 13:32
  Speaker 6: and you have to change your plans at the last minute,
• 13:34
  Speaker 6: and there's like, you know, you can't get refund YadA, YadA, YadA,
• 13:38
  Speaker 6: you lose your money.
• 13:40
  Speaker 3: So bad deal.
• 13:41
  Speaker 2: Money is bad. That's bad. It's bad. That's like losing
• 13:43
  Speaker 2: money in this house.
• 13:44
  Speaker 6: But there's actually a website like Transferred Travel, spare Fare,
• 13:49
  Speaker 6: and cancelo that are basically secondhand marketplaces for travel.
• 13:53
  Speaker 2: So if you're someone looking for like a cheap travel situation,
• 13:58
  Speaker 2: or you're someone.
• 13:58
  Speaker 6: Who needs to sell the travel plan, yeah, then it's
• 14:01
  Speaker 6: like you just get to buy someone else's holiday for
• 14:03
  Speaker 6: a lot cheaper. So you can list your unwanted holidays
• 14:06
  Speaker 6: and recoup some of the costs, or you can buy
• 14:08
  Speaker 6: other people's holidays and its counting.
• 14:11
  Speaker 2: That is very clever, so genius.
• 14:13
  Speaker 3: How do you.
• 14:14
  Speaker 4: Transfer things into somebody else's name?
• 14:16
  Speaker 3: I actually don't know.
• 14:17
  Speaker 2: I think you had to.
• 14:18
  Speaker 3: Pay to teach you.
• 14:19
  Speaker 2: Yeah, but accommodation or something. Yeah, it's fine.
• 14:22
  Speaker 3: I don't know how it works, but do you know
• 14:24
  Speaker 3: what it reminds me of. This was actually a trip
• 14:26
  Speaker 3: that Jess and I were meant to go on to
• 14:28
  Speaker 3: Sydney a while ago, just for work, and then something
• 14:31
  Speaker 3: came up really last minute, and we were like, we
• 14:34
  Speaker 3: have to cancel that because we've got to do this
• 14:35
  Speaker 3: other thing. And I was reading the terms and conditions
• 14:38
  Speaker 3: of the hotel that we were going to stay at
• 14:39
  Speaker 3: and it said no cancelations. With less than forty eight
• 14:42
  Speaker 3: hours notice. And I was like, ah, like you would
• 14:44
  Speaker 3: like fourfeit all of it, and this is probably going
• 14:47
  Speaker 3: to make me look like a really dodgy human being.
• 14:49
  Speaker 3: But I mean, if it helps you and it helped me,
• 14:53
  Speaker 3: does that really mean that I'm dodgy? So I didn't
• 14:56
  Speaker 3: cancel it. I called them up and then I picked
• 14:59
  Speaker 3: a random day, like two months in advance, and say, hey,
• 15:01
  Speaker 3: can I just move my booking? And then they said yes,
• 15:05
  Speaker 3: and they were really nice about it. And then I
• 15:06
  Speaker 3: called back the next day and I canceled the book here.
• 15:09
  Speaker 3: That's genius, and they gave me a full refund with
• 15:13
  Speaker 3: no questions lasked. I just had my fingers crossed that
• 15:15
  Speaker 3: it was a different girl on reception perfect.
• 15:18
  Speaker 2: That's genius.
• 15:19
  Speaker 3: But yeah, that worked. So if it says like less
• 15:21
  Speaker 3: than forty eight hours notice no cancelations, well I'm not canceling.
• 15:23
  Speaker 3: I'm just like changing my thing. And I was like, hey,
• 15:25
  Speaker 3: can you just change it to like, you know, the
• 15:27
  Speaker 3: end of November and she was like yeah, no worries,
• 15:28
  Speaker 3: like rebooked, you're in on the thirtieth or whatever, and
• 15:31
  Speaker 3: I was like yep, thanks so much. And then the
• 15:32
  Speaker 3: next thing, I said, Hey, so I made a booking
• 15:34
  Speaker 3: for the thirtieth and I actually don't need it anymore.
• 15:36
  Speaker 3: She's like, oh, you've got heaps of notice, no worries.
• 15:38
  Speaker 3: We'll just cancel that and you'll get a full refund.
• 15:40
  Speaker 3: And I was like, oh, thanks so much. That's really
• 15:41
  Speaker 3: cool for you to do that for me.
• 15:43
  Speaker 2: That's so smart.
• 15:44
  Speaker 3: So that's like a little like a sprinkle on the
• 15:46
  Speaker 3: top for your broke tips.
• 15:47
  Speaker 6: Totally don't d don't be dodgy, but like B like VD,
• 15:51
  Speaker 6: yeah seriously, Oh that's gorgeous.
• 15:53
  Speaker 2: Yeah, well that's me.
• 15:54
  Speaker 3: Yeah, anyway, I feel like that's really good. Let's go
• 15:56
  Speaker 3: to a really quick break because I'm very excited to
• 15:59
  Speaker 3: help you guys answer money dilemma about whether you should
• 16:01
  Speaker 3: be salary sacrificing into your super or you should be
• 16:04
  Speaker 3: focusing on your other goals and something you're leading to
• 16:07
  Speaker 3: our dms about which or I just have thoughts, feelings,
• 16:10
  Speaker 3: and opinions. A spicy sibling drama about your sister getting
• 16:13
  Speaker 3: money that isn't being given to you. Guys, don't go anywhere.
• 16:21
  Speaker 5: Welcome back, everybody. Let's take a listen to this week's
• 16:23
  Speaker 5: money dilemma.
• 16:26
  Speaker 7: Hi, there, have you got a money dilemma you just
• 16:29
  Speaker 7: can't solve. The Sheese on the Money team is here
• 16:31
  Speaker 7: to help.
• 16:32
  Speaker 3: Every week, we.
• 16:33
  Speaker 7: Tackle your dilemmas, both big and small, to answer your
• 16:36
  Speaker 7: most burning money, career and life questions. To get involved,
• 16:39
  Speaker 7: simply head to our website and leave us a short
• 16:41
  Speaker 7: voice recording and you might just find yourself on the show.
• 16:44
  Speaker 3: Now, let's take a listen to this week's money dilemma.
• 16:50
  Speaker 8: Hi guys, my question is around whether it is better
• 16:54
  Speaker 8: to salary sacrifice into SUPER or put that money towards
• 17:00
  Speaker 8: home deposit. At the moment, I'm in a position within
• 17:03
  Speaker 8: my career where I earn enough to comfortably afford to
• 17:07
  Speaker 8: salary sacrifice into my SUPER and max it out every year.
• 17:11
  Speaker 8: At the same time, I'm currently saving for a home deposit,
• 17:14
  Speaker 8: and if I don't salary sacrifice into my SUPER, I
• 17:19
  Speaker 8: expect to have decent to posit together within a year
• 17:23
  Speaker 8: and could borrow a decent amount for decent enough property.
• 17:29
  Speaker 8: So my question is would it be better in the
• 17:31
  Speaker 8: long run to max out SUPER knowing that it could
• 17:35
  Speaker 8: potentially affect my borrowing power and delay my savings goal,
• 17:40
  Speaker 8: or wait until I have purchased a property and then
• 17:43
  Speaker 8: salary sacrifice into my super thank you.
• 17:46
  Speaker 6: Oh, I would say property first because you never know
• 17:52
  Speaker 6: if the property prices will rise.
• 17:54
  Speaker 2: But the other thing I'm thinking you could do that.
• 17:56
  Speaker 3: First home the first time statistame.
• 17:58
  Speaker 2: Per save scheme. You've got to really quick scheme. Yeah,
• 18:03
  Speaker 2: that's really good, Cob.
• 18:05
  Speaker 3: They came out so you know how many times a
• 18:07
  Speaker 3: week I say that, It's actually like I should have canceled.
• 18:10
  Speaker 2: That's crazy, that's all You're so good at it. No, no,
• 18:15
  Speaker 2: So this is my question. Can you do the first
• 18:18
  Speaker 2: serves scheme?
• 18:18
  Speaker 6: If you pay super before tags, which is sealary sacrifice
• 18:22
  Speaker 6: or after it was either all well.
• 18:24
  Speaker 3: It's either all so it just can't be your your
• 18:27
  Speaker 3: workplace contributions, so your like mandated twelve percent doesn't count.
• 18:31
  Speaker 3: Does any type of additional contribution You could go back
• 18:34
  Speaker 3: and be like, hey, could I please access that? So,
• 18:36
  Speaker 3: whether it was you setting up an additional salary sacrifice
• 18:40
  Speaker 3: with your employer and saying hey, could you do an
• 18:42
  Speaker 3: additional two percent or could you do fifty bucks a
• 18:44
  Speaker 3: week or whatever, that looks like that can be leaned
• 18:47
  Speaker 3: on for first time Super Savis game. But then on
• 18:49
  Speaker 3: the flip side, you could also be like, oh my gosh,
• 18:51
  Speaker 3: I have some extra cash and I want to chuck
• 18:53
  Speaker 3: that into my super to make the most of the
• 18:56
  Speaker 3: first time Super Savis scheme or the FHSS, which feels
• 19:00
  Speaker 3: a little bit less aggressive.
• 19:03
  Speaker 2: But that's what you did, Jess. You had your house.
• 19:05
  Speaker 3: Savings and then hypothetically you got some very legitimate financial
• 19:08
  Speaker 3: advice not from your friend, and then you made lump
• 19:10
  Speaker 3: some deposits into that. Because what would happen then is, yes,
• 19:15
  Speaker 3: it's after tax, but come tax time, Jess would have
• 19:17
  Speaker 3: put it on her tax return that she'd done that,
• 19:20
  Speaker 3: and then she would have got the difference of that
• 19:21
  Speaker 3: base fifteen percent tax rate inside super back on her
• 19:27
  Speaker 3: tax return based on what she earns and her MARGINALU tix.
• 19:31
  Speaker 3: I understand. So it actually doesn't matter how it gets
• 19:33
  Speaker 3: in as long as it was like a voluntary contribution.
• 19:36
  Speaker 6: And is the only benefit to this the tax element,
• 19:40
  Speaker 6: or is it because I'm thinking limorary benefits.
• 19:42
  Speaker 2: The primary benefit is taxed.
• 19:44
  Speaker 3: So the first time super Savor scheme exists to put you,
• 19:48
  Speaker 3: as a first home buyer in a better financial position.
• 19:51
  Speaker 3: So the way that it works is it allows you
• 19:54
  Speaker 3: to use your superranuation environment as a savings tool for
• 19:58
  Speaker 3: your first home, so you can contra fifteen thousand dollars
• 20:01
  Speaker 3: each and every single year up to fifty thousand dollars total,
• 20:05
  Speaker 3: and then instead of paying like, let's pretend, or not
• 20:09
  Speaker 3: even pretend, I know that most people in our community
• 20:11
  Speaker 3: have a thirty percent tax rate. So by taking your
• 20:15
  Speaker 3: savings and putting them inside superannuation and then pulling them
• 20:20
  Speaker 3: back out later for your first home, you're going to
• 20:22
  Speaker 3: get fifteen percent immediately back on that money. Because supernuation
• 20:28
  Speaker 3: tax rate fifteen percent your actual tax rate thirty percent,
• 20:31
  Speaker 3: you get a refund and so you end up coming
• 20:34
  Speaker 3: out of the wash with more cash for your first home.
• 20:37
  Speaker 3: I'd say one of the government's ways of getting first
• 20:41
  Speaker 3: home buys into their homes a little bit quicker. That's clever,
• 20:45
  Speaker 3: that's very It is capped. But like if you're buying
• 20:47
  Speaker 3: with a partner, yes, you only have access to fifty
• 20:50
  Speaker 3: thousand dollars in your super but like, let's pretend you
• 20:52
  Speaker 3: and Jess were doing it. Actually you couldn't do it
• 20:53
  Speaker 3: because your partner, Jess already owns an apartment. Are hypothetically
• 20:57
  Speaker 3: if she didn't, you could then have one hundred thousand
• 20:59
  Speaker 3: dollars a cross both of your circumstances, and on fifty
• 21:03
  Speaker 3: thousand dollars each, in the long run, you actually end
• 21:06
  Speaker 3: up I believe, about nine and a half thousand dollars
• 21:09
  Speaker 3: better off individually. So you'd be in like, what nineteen
• 21:13
  Speaker 3: thousand dollars better off as a couple.
• 21:15
  Speaker 6: And do you get the gains on that money as
• 21:18
  Speaker 6: well as that you do it two thousand or you do?
• 21:20
  Speaker 6: Do you get your returns interest returns? It just depends
• 21:23
  Speaker 6: how long it's been in there. Yes, sure, Yeah, it's
• 21:26
  Speaker 6: taxed on my house, but still free money. Sorry, sorry,
• 21:29
  Speaker 6: money is money. Yeah, Like we're not complaining. So when
• 21:31
  Speaker 6: we pay tax, it's because we made money. Yes, they're
• 21:33
  Speaker 6: not going to tax you on money you didn't make exactly.
• 21:35
  Speaker 2: You can't come back in the native tax me.
• 21:37
  Speaker 3: It's very sexy.
• 21:38
  Speaker 2: Love it, love it, love.
• 21:39
  Speaker 3: Itess Like I want my tax to be really high.
• 21:42
  Speaker 3: Like I want to tell you, I don't want to
• 21:43
  Speaker 3: brag about my tax return because I'd be like, look.
• 21:45
  Speaker 6: What I did well in this case, because I guess
• 21:47
  Speaker 6: like in the long run, it doesn't really affect your
• 21:49
  Speaker 6: super as much. But I think you should prioritize property,
• 21:52
  Speaker 6: but you can still do it in this way that
• 21:54
  Speaker 6: doesn't actually like boost your super at the.
• 21:56
  Speaker 2: End of it all, I'm assuming no, but you could.
• 21:59
  Speaker 3: Like split it. You could split it so you can
• 22:01
  Speaker 3: contribute up to fifteen thousand dollars a year to the
• 22:03
  Speaker 3: first home Super Savor scheme, and hypothetically if you had more,
• 22:07
  Speaker 3: which are unrelatable, but whatever, if you had more, that
• 22:10
  Speaker 3: additional amount could still be going towards your Super. But
• 22:12
  Speaker 3: don't forget you have a thirty thousand dollar cap each
• 22:15
  Speaker 3: year of what you can contribute to super in total.
• 22:18
  Speaker 3: There's lots of rules and regulations around that. You and
• 22:21
  Speaker 3: I just recorded the second part of our Subranuation series
• 22:25
  Speaker 3: and that's coming out in a couple of weeks, So
• 22:26
  Speaker 3: I'll make sure that our first part is linked in
• 22:28
  Speaker 3: the show notes and the second part you can keep
• 22:30
  Speaker 3: your eyes peeled for. But your employer's contributions make up
• 22:35
  Speaker 3: part of that thirty percent. So let's say like you
• 22:38
  Speaker 3: go to work every day and your Superanuation contributions from
• 22:42
  Speaker 3: your employer nine and a half thousand dollars per year.
• 22:44
  Speaker 3: That takes up part of your thirty thousand contributions, then
• 22:48
  Speaker 3: maybe your fifteen thousand in home savings, you don't actually
• 22:51
  Speaker 3: have a lot of more wiggle room before you incur
• 22:54
  Speaker 3: more tax Is that unrelatable because most of us can't
• 22:57
  Speaker 3: contribute that. Yes, But like those are the rules and
• 22:59
  Speaker 3: reg relations. What I would say is the important thing
• 23:04
  Speaker 3: about the first time Super Savor scheme is that once
• 23:07
  Speaker 3: you put it in, if it's not being withdrawn for property,
• 23:12
  Speaker 3: it does get taxed on the way out and you're
• 23:14
  Speaker 3: not going to end up in a better position. So
• 23:17
  Speaker 3: if you're planning on pulling it out, haha, you can't
• 23:20
  Speaker 3: unless it's for property. So if it's other goals that
• 23:23
  Speaker 3: aren't property related, I would be considering seriously not using
• 23:27
  Speaker 3: Super as a vehicle for that. And I will tell
• 23:30
  Speaker 3: you on our second part of this Super episode. Personally,
• 23:35
  Speaker 3: I don't make additional contributions to Super to top up
• 23:37
  Speaker 3: my retirement because I have very grand plans of retiring
• 23:40
  Speaker 3: before the age of sixty five. So like you guys,
• 23:44
  Speaker 3: take that however you wish, or just just any additionals no,
• 23:48
  Speaker 3: nothing for me.
• 23:49
  Speaker 4: I think.
• 23:49
  Speaker 3: Can you just say, first time Super, I have a
• 23:51
  Speaker 3: game really.
• 23:51
  Speaker 4: Quick, I'd forget it.
• 23:57
  Speaker 3: That's amazing.
• 24:00
  Speaker 2: It's car so quick.
• 24:01
  Speaker 3: All right, guys, I'm excited for this one because I
• 24:04
  Speaker 3: am opinionated, and I think you guys are going to
• 24:07
  Speaker 3: be too. So are you ready for the DM we
• 24:10
  Speaker 3: got this week? Ready?
• 24:11
  Speaker 7: Hi?
• 24:12
  Speaker 3: She's on the money team. I have a little bit
• 24:14
  Speaker 3: of a money dilemma for you. My younger sister is
• 24:16
  Speaker 3: engaged and currently making wedding preparations. I found out recently
• 24:20
  Speaker 3: that my parents are paying for the entire wedding. My
• 24:24
  Speaker 3: long term partner and I decided long ago that we
• 24:26
  Speaker 3: will not be getting married or having kids, as that's
• 24:29
  Speaker 3: just not what feels right for us. My parents are
• 24:32
  Speaker 3: fully aware of this. It is unlikely that I would
• 24:35
  Speaker 3: bother broaching the subject with them, as I know their
• 24:37
  Speaker 3: response would be just something along the lines of, well,
• 24:39
  Speaker 3: if you get married to will pay for your wedding too.
• 24:42
  Speaker 3: I would love to know y'all's thoughts on whether or
• 24:45
  Speaker 3: not it would be fair for my parents to financially
• 24:47
  Speaker 3: assist me in other ways, considering I don't have any
• 24:50
  Speaker 3: plans to get married.
• 24:51
  Speaker 6: Big yes, personally, and I understand that like no one
• 24:54
  Speaker 6: actually owes anyone money, So if they paid for your
• 24:56
  Speaker 6: sister's wedding. It still feels unfair, but it's like I
• 24:58
  Speaker 6: think that it's different if it's like, oh, my assistant
• 25:01
  Speaker 6: needed surgery and they paid for a surgery and then
• 25:03
  Speaker 6: and then I'd be like, oh, they.
• 25:04
  Speaker 2: Don't know anything.
• 25:05
  Speaker 6: But like there's something that always gets to me about
• 25:06
  Speaker 6: like this tradition that is just like it is really cool,
• 25:10
  Speaker 6: really beautiful, Like weddings have just been around since as
• 25:14
  Speaker 6: long as I can remember. But I don't I don't
• 25:16
  Speaker 6: think we need to get married. I think it was
• 25:17
  Speaker 6: like something that was just like kind of you know,
• 25:19
  Speaker 6: maybe it.
• 25:19
  Speaker 2: Was religious, maybe it was born out of religion.
• 25:21
  Speaker 4: I'm sure transfer the ownership of a woman from her
• 25:23
  Speaker 4: father to he house.
• 25:24
  Speaker 2: But thank you Jess exactly. And that's what I try
• 25:26
  Speaker 2: and say, and that I don't want to like sound
• 25:28
  Speaker 2: my heart.
• 25:28
  Speaker 3: My husband didn't even get a dowry when he married me.
• 25:31
  Speaker 2: Well that's the thing.
• 25:31
  Speaker 6: And it's like and so the dad walks the doughter
• 25:33
  Speaker 6: down like here's this is your property now, and like
• 25:35
  Speaker 6: that's the thing. It's like a transfer of ownership and
• 25:37
  Speaker 6: it's like, Okay, we're way beyond that now, which is great,
• 25:39
  Speaker 6: but it's like you know, but we still get married,
• 25:41
  Speaker 6: and I think that's that's really beautiful.
• 25:43
  Speaker 2: But we don't need to.
• 25:44
  Speaker 6: So I feel like, like I have friends I probably
• 25:47
  Speaker 6: won't get married. I have a lot of friends who
• 25:48
  Speaker 6: probably won't get married. One of my friends is like,
• 25:50
  Speaker 6: I'm not having children, but I still don't have a party.
• 25:51
  Speaker 6: So I'm going to have a non children party and
• 25:54
  Speaker 6: a non marriage party because we deserve.
• 25:56
  Speaker 2: Gifts just as much as ever anyone else.
• 25:58
  Speaker 6: But I understand that if you're spending a lot of
• 26:00
  Speaker 6: money on a ceremony, then you know, it's really nice
• 26:03
  Speaker 6: if people kind of like contribute to your life moving forward,
• 26:06
  Speaker 6: which is lovely. But I don't think it's an essential thing.
• 26:10
  Speaker 6: Some people want it to be. Some people are quite religious,
• 26:12
  Speaker 6: and it is an essential thing. But because it's so
• 26:16
  Speaker 6: like it's so you don't have to do it, you
• 26:19
  Speaker 6: don't want to be not that you're directly being like
• 26:22
  Speaker 6: punished for not doing it, but to see that something
• 26:25
  Speaker 6: that your sister doesn't need to do is it's being
• 26:29
  Speaker 6: funded and like this is a big party to celebrate
• 26:32
  Speaker 6: her and her love and all this kind of stuff,
• 26:34
  Speaker 6: and you don't want to do that because you were like,
• 26:37
  Speaker 6: what does it actually mean for me. It doesn't mean
• 26:39
  Speaker 6: anything for me, so why would I do it? And
• 26:41
  Speaker 6: then you know, so I think that like having this
• 26:44
  Speaker 6: conversation with your parents and be like what is marriage?
• 26:47
  Speaker 2: Like why marriage? What the hell does it mean? Why
• 26:50
  Speaker 2: we are doing it?
• 26:52
  Speaker 6: And why do you just like give money so much
• 26:54
  Speaker 6: money away without even thinking about what it is and
• 26:59
  Speaker 6: why it's happening. So I think like if your parents
• 27:03
  Speaker 6: could understand that you've kind of like seen through all
• 27:06
  Speaker 6: of that and you're like, oh, it's not really for me.
• 27:08
  Speaker 6: It's just a waste of money or whatever it is.
• 27:09
  Speaker 6: Whatever that looks like it's not really important for you.
• 27:11
  Speaker 6: But you are still doing things that should be valued
• 27:15
  Speaker 6: as highly as a wedding because you love someone so much.
• 27:19
  Speaker 6: But maybe you're maybe you want to open a studio
• 27:21
  Speaker 6: and have like a creative art space, maybe you want
• 27:24
  Speaker 6: to start your own business, maybe you want to go
• 27:26
  Speaker 6: on a trip. All these things should be This is
• 27:28
  Speaker 6: what really annoys me is that like all these things
• 27:30
  Speaker 6: that we do for ourselves and for the people we love,
• 27:32
  Speaker 6: just like no one places any value on it. But
• 27:35
  Speaker 6: it's you get married and everyone's like, oh my god,
• 27:38
  Speaker 6: it's such an achievement, but it's also an achievement to
• 27:42
  Speaker 6: do all these other little things, not little things. I
• 27:44
  Speaker 6: shouldn't say little, they're all big. But I think if
• 27:46
  Speaker 6: you explain that to your parents, like I did this
• 27:48
  Speaker 6: thing which was really cool, I did that by myself.
• 27:50
  Speaker 6: I did this thing that was really cool. No one
• 27:52
  Speaker 6: helped me funder that. It's like if you kind of
• 27:54
  Speaker 6: explain that, they don't know it to you, but it
• 27:56
  Speaker 6: will build resentment within you. And we're just trying to
• 27:59
  Speaker 6: avoid the resentment. It's all I trying to say. But
• 28:01
  Speaker 6: everything that we all do is valuable, including getting married,
• 28:04
  Speaker 6: including not getting married.
• 28:05
  Speaker 3: I think it's also a different tangent than like do
• 28:08
  Speaker 3: they owe you that, because it's all about well, you know,
• 28:11
  Speaker 3: the way you're seeing marriage and the way that your
• 28:14
  Speaker 3: views are on that, because like, as someone who is married,
• 28:17
  Speaker 3: like I look at it and go, oh my god,
• 28:18
  Speaker 3: Like I did not get married because I want to
• 28:21
  Speaker 3: submit to my husband and all of that, and like,
• 28:23
  Speaker 3: if you know my relationship, well enough, unlucky guy, I
• 28:27
  Speaker 3: refuse to take his name. I made sure that our
• 28:29
  Speaker 3: kids had our name. Sorry, mate, you want to be
• 28:32
  Speaker 3: a divine, well, if you want to marry me, that's
• 28:34
  Speaker 3: the rules.
• 28:35
  Speaker 6: It's weird that it's just like, by default the opposite,
• 28:37
  Speaker 6: and it's like cooled if it's not.
• 28:39
  Speaker 2: You know what I mean, it's like, yeah, no, it
• 28:40
  Speaker 2: should just be.
• 28:40
  Speaker 3: It can be anything on your terms. It doesn't mean
• 28:42
  Speaker 3: you have to get married. You don't have to. Lots
• 28:44
  Speaker 3: of people I know don't. But it's more like, I
• 28:47
  Speaker 3: guess the underlying question here is not whether your choices
• 28:50
  Speaker 3: are valid, but like, should your parents be funding your life? Jess,
• 28:55
  Speaker 3: what would you do?
• 28:55
  Speaker 5: Yeah, it's something I've been reflected on a lot, exactly
• 28:58
  Speaker 5: if you're kind of touching I'm bet as someone who
• 29:01
  Speaker 5: is not really following that traditional pathway. I don't know
• 29:04
  Speaker 5: that i'll have kids, I don't know that I'll care
• 29:05
  Speaker 5: to get married, you know where a lot of my
• 29:07
  Speaker 5: friends have ticked those more traditional quote unquote accomplishments. And
• 29:12
  Speaker 5: there's something just in reflecting I think on the fact that,
• 29:14
  Speaker 5: as you said, we celebrate these milestones, but not everybody
• 29:17
  Speaker 5: will will want to pursue those.
• 29:20
  Speaker 3: Yeah, it's only recently.
• 29:21
  Speaker 5: That same sex couples were able to get married. To
• 29:23
  Speaker 5: a very long time that wasn't even an option for people,
• 29:26
  Speaker 5: you know, and I think that there's something to be said,
• 29:29
  Speaker 5: not that celebration or the things that come with that,
• 29:32
  Speaker 5: like the gifting, the money, etc. Not that it has
• 29:36
  Speaker 5: to be reciprocal or equal. That's not what I'm getting at.
• 29:40
  Speaker 5: But I do think that for people who choose less
• 29:42
  Speaker 5: traditional pathways, it can be really hard to feel like
• 29:45
  Speaker 5: you're not being celebrated or not achieving things that people
• 29:49
  Speaker 5: view as valuable. I think it's great that you're choosing
• 29:52
  Speaker 5: your own path, and I think that you're totally right.
• 29:56
  Speaker 3: My only.
• 29:58
  Speaker 5: Qualm I suppose is that, as you you said, you're
• 30:00
  Speaker 5: not owed something, and like I think it's really generous
• 30:04
  Speaker 5: and it is somewhat traditional that the parents want to
• 30:06
  Speaker 5: pay for or contribute to the wedding. It's hard because
• 30:09
  Speaker 5: I don't think you can necessarily turn around and say, well,
• 30:12
  Speaker 5: you've paid for something for one person you have to pay.
• 30:14
  Speaker 5: In an ideal world, yes, it would all be fair,
• 30:17
  Speaker 5: but at the same time, you know, I've also said
• 30:19
  Speaker 5: on this show before, like nobody owes anybody anything, like
• 30:22
  Speaker 5: you shouldn't expect your parents to pay for a wedding,
• 30:24
  Speaker 5: a house deposit.
• 30:25
  Speaker 2: Or anything else.
• 30:27
  Speaker 5: Do I think that you know there's something to be
• 30:30
  Speaker 5: said about I do think you should definitely have a
• 30:32
  Speaker 5: conversation explain the perspective to them of well, I'm never
• 30:34
  Speaker 5: planning on being married, But does that mean that my
• 30:37
  Speaker 5: other things that I hope to do, purchasing a house
• 30:39
  Speaker 5: or traveling or doing whatever, are less valuable and don't
• 30:42
  Speaker 5: deserve to be You know, I think there is a
• 30:45
  Speaker 5: lot of gray to play in here, because on one hand,
• 30:48
  Speaker 5: I very much don't think they owe anything. But on
• 30:50
  Speaker 5: the other hand, I do also think that there's something
• 30:53
  Speaker 5: to be said for providing, equally valuing, equally respecting decisions
• 31:00
  Speaker 5: that your children might make. And I don't really know
• 31:03
  Speaker 5: that I have a good answer for that, but I
• 31:04
  Speaker 5: guess my reflection is just very much echoing what you
• 31:07
  Speaker 5: said back that more and more people are choosing non
• 31:10
  Speaker 5: traditional pathways, and I think that should be celebrated. Like
• 31:12
  Speaker 5: I think, just because you don't want to follow the
• 31:16
  Speaker 5: path that has been laid out for us, particularly as
• 31:18
  Speaker 5: women for so many generations, you might disagree with marriages
• 31:22
  Speaker 5: and an institution because of, like you know, the history
• 31:24
  Speaker 5: of what it means. Yeah, you might want to have
• 31:26
  Speaker 5: a huge, beautiful wedding because that's fun and exciting, and
• 31:29
  Speaker 5: both of those things are okay, but like whatever path
• 31:33
  Speaker 5: you choose should be equally valued by the people around you,
• 31:36
  Speaker 5: is how I feel.
• 31:37
  Speaker 2: Totally.
• 31:38
  Speaker 3: I am so glad that both of you were like
• 31:40
  Speaker 3: so kind in your responses, and I echo all of that,
• 31:44
  Speaker 3: like I agree and would like to cut and paste
• 31:46
  Speaker 3: what you've said into my response, But then I'm also
• 31:49
  Speaker 3: going to say something that could get me canceled. And
• 31:52
  Speaker 3: that's perfectly okay, because like I sometimes see myself as
• 31:55
  Speaker 3: like your big sister when it comes to money, and
• 31:58
  Speaker 3: like you don't always want to hear what you big
• 32:00
  Speaker 3: sisters got to say, but sometimes it's really helpful, and
• 32:03
  Speaker 3: I think that's really entitled. I just look at it
• 32:06
  Speaker 3: and I go, your parents are choosing to do something
• 32:09
  Speaker 3: with their money. It is their choice. I can completely
• 32:14
  Speaker 3: see that you might go, oh, well, that's unfair because
• 32:16
  Speaker 3: I didn't get what they got. Why no, no care
• 32:20
  Speaker 3: about your own financial security, build your own financial future.
• 32:24
  Speaker 3: I personally wouldn't mention it. And that's why I'm saying,
• 32:27
  Speaker 3: like I could get ganceled, you can do whatever you want.
• 32:30
  Speaker 3: It can feel unfair, but also the spending that your
• 32:35
  Speaker 3: parents make is in line with their values, and if
• 32:37
  Speaker 3: they made the choice to help you with something big,
• 32:41
  Speaker 3: I'm sure they would broach that. I don't think you
• 32:43
  Speaker 3: need to jump up and down and say, hey, please
• 32:45
  Speaker 3: value my life as much as this. I also think
• 32:49
  Speaker 3: that sometimes we forget how much they might have contributed
• 32:52
  Speaker 3: to other things growing up. Like there's this really good
• 32:56
  Speaker 3: I don't know if it's a quote, but it's all
• 32:58
  Speaker 3: about how even in the same household, children don't experience
• 33:03
  Speaker 3: the same parents. So like when one day I have
• 33:06
  Speaker 3: more children, like the parenting that my next child gets
• 33:11
  Speaker 3: in comparison to Harvey is not going to be the same.
• 33:13
  Speaker 3: Their experiences are coming from different lenses. They are different people.
• 33:17
  Speaker 3: They will be treated differently, not because it's not fair,
• 33:21
  Speaker 3: but just because one might have a learning difficulty and
• 33:23
  Speaker 3: I need to invest more in their tutoring than the other.
• 33:27
  Speaker 3: Or one might really love football and I invest in,
• 33:30
  Speaker 3: you know, making sure they go through that, and the
• 33:32
  Speaker 3: other ones to stay home play video game. Like you
• 33:34
  Speaker 3: are going to have different experiences and equal doesn't mean
• 33:39
  Speaker 3: a dollar amount from my perspective, like I think I
• 33:42
  Speaker 3: would be you know, if I extrapolate this out even
• 33:44
  Speaker 3: just to a work sense, right, like if I go
• 33:47
  Speaker 3: down to the cafe with Jess at lunchtime and I
• 33:49
  Speaker 3: buy her coffee and then she comes up to goes,
• 33:52
  Speaker 3: oh my god, money, when V brought me coffee? Would
• 33:54
  Speaker 3: you turn around and go, well, why did she get coffee?
• 33:57
  Speaker 3: I want a coffee? Like it just is that sense
• 34:00
  Speaker 3: of entitlement that it's like I do feel like overtime,
• 34:03
  Speaker 3: these things ebb and flow, and like, you know what,
• 34:05
  Speaker 3: we hear it in the community all the time. And
• 34:07
  Speaker 3: you know what, the most stereotypical thing is when the
• 34:10
  Speaker 3: older sister is complaining about the younger brother, They're like,
• 34:13
  Speaker 3: oh my god, Like I had to work for bloody
• 34:16
  Speaker 3: everything I got, Like I got my first job, I
• 34:19
  Speaker 3: did this, I saved up for my first car, I
• 34:20
  Speaker 3: bought it. And then for my brother's eighteenth birthday, he
• 34:24
  Speaker 3: just got gifted a car.
• 34:25
  Speaker 6: What the heck?
• 34:25
  Speaker 3: Like, I'm not saying that any of these things are right,
• 34:28
  Speaker 3: but I think we need to kind of stay in
• 34:30
  Speaker 3: our own lane. And the most healthy approach to this
• 34:33
  Speaker 3: is like work on your own financial confidence and your
• 34:36
  Speaker 3: own financial independence and like celebrate the choices that you've
• 34:39
  Speaker 3: made because they were the right ones for you. Like
• 34:42
  Speaker 3: you're not going to get married, and I know that
• 34:43
  Speaker 3: your parents are saying they would come back and be like, well,
• 34:46
  Speaker 3: Jess Curry, if you got married, would pay for your bidding.
• 34:48
  Speaker 3: Don't worry. That is not a reflection of how much
• 34:51
  Speaker 3: they care about you. That is a reflection of their values.
• 34:53
  Speaker 3: And maybe they're really outdated stereotypes based on weddings that
• 34:57
  Speaker 3: your dad should be paying for your wedding, do you
• 35:00
  Speaker 3: know what I mean? Like, I just don't think it's
• 35:01
  Speaker 3: a reflection of your parents not caring or loving for you.
• 35:04
  Speaker 3: And if you distill that down to finances, I kind
• 35:07
  Speaker 3: of go, what the heck, that's not what life's about. Sure,
• 35:10
  Speaker 3: I don't know. I just feel like it's there's so
• 35:12
  Speaker 3: many ways that you could look at it so exactly.
• 35:14
  Speaker 3: And I'm not saying that I don't agree with the
• 35:16
  Speaker 3: two of you who had much kinder responses, but I
• 35:18
  Speaker 3: was like, can we just talk about this entitlement piece,
• 35:20
  Speaker 3: because like, I do know someone like that and they're like, oh, well,
• 35:24
  Speaker 3: my parents spent X and they literally go and ask
• 35:27
  Speaker 3: their parents for the same similar cash amount and I go,
• 35:31
  Speaker 3: that's because I benefited the parents. Yeah, Like that's it
• 35:35
  Speaker 3: just gives me the ick, Like I just really don't
• 35:39
  Speaker 3: like it. And maybe that's just because again I'm so
• 35:42
  Speaker 3: black and white that I'm like, there's right and there's Well,
• 35:44
  Speaker 3: that doesn't mean I can't live in the gray and
• 35:46
  Speaker 3: give you context, but I also think does that resonate?
• 35:49
  Speaker 3: If so, maybe take that with a grain of salt
• 35:52
  Speaker 3: as well.
• 35:52
  Speaker 4: What did everybody else think? I feel like there's gonna
• 35:54
  Speaker 4: be lots of There was, and there was.
• 35:56
  Speaker 3: It was a little bit spicy. So the first question
• 35:59
  Speaker 3: I asked was, guys, how would you handle this situation.
• 36:02
  Speaker 3: Forty four percent of you said, let it go, it's
• 36:04
  Speaker 3: their choice, twenty seven percent said have a conversation about fairness,
• 36:09
  Speaker 3: twenty one percent of you would ask for the same
• 36:11
  Speaker 3: amount for another milestone, and nine percent said I'd be
• 36:15
  Speaker 3: quietly resentful. Next question I asked was should the money
• 36:19
  Speaker 3: a parent gives for a wedding be matched with the
• 36:22
  Speaker 3: same amount for siblings who choose not to marry? And
• 36:24
  Speaker 3: this is pretty fifty to fifty fifty one percent of
• 36:26
  Speaker 3: you said yep, it's only fair. Forty nine percent of
• 36:28
  Speaker 3: you said, no, weddings are different interesting, And then I said,
• 36:34
  Speaker 3: what's your two cents? And you, guys, let it rip?
• 36:37
  Speaker 3: So first person said, my parents raised us on the
• 36:39
  Speaker 3: basis of what they do for one child, they will
• 36:41
  Speaker 3: always do for all Cool. But that's where the argument
• 36:45
  Speaker 3: of like your parents go, will beck, if you want
• 36:46
  Speaker 3: to get married, we'd pay for your wedding.
• 36:48
  Speaker 6: Yeah, we'd do that for you too. I'd be like,
• 36:50
  Speaker 6: here's a chunk of money. You can use it for
• 36:52
  Speaker 6: a wedding, you can use that for a business, you
• 36:54
  Speaker 6: can use that for a travel Yeah.
• 36:55
  Speaker 3: I quite like that idea, do you know?
• 36:57
  Speaker 5: I think there's something having a conversation with them and
• 36:59
  Speaker 5: just asking why is the wedding the thing that you
• 37:02
  Speaker 5: think is worth fun? Is it that outdated? You feel
• 37:05
  Speaker 5: like it's your responsibility to pay. Like, our parents are
• 37:08
  Speaker 5: of an age where they do come from a different time,
• 37:10
  Speaker 5: and I think there's something in just having the conversation
• 37:13
  Speaker 5: to understand their perspective, not necessarily to change it.
• 37:16
  Speaker 2: Yes, that's true for me.
• 37:17
  Speaker 3: I just look at it and go, oh, okay, So
• 37:19
  Speaker 3: your parents are probably spending their money in line with
• 37:21
  Speaker 3: their values, and like that's a good thing. Next person said,
• 37:25
  Speaker 3: parents are emotionally driven when investing in a wedding. There
• 37:28
  Speaker 3: is a very big social aspect to that. Not money.
• 37:31
  Speaker 4: Ah, that does make sense. Yeah, that's a great point.
• 37:34
  Speaker 3: Next person, Financial help should be provided if and when
• 37:37
  Speaker 3: it's needed. It doesn't need to be dollar for dollar equal.
• 37:40
  Speaker 2: Sure, that's fair.
• 37:41
  Speaker 3: Next person said, weddings should not be the only thing
• 37:44
  Speaker 3: that is celebrated in our lives, and our parents should
• 37:46
  Speaker 3: learn to match.
• 37:47
  Speaker 1: Yes.
• 37:48
  Speaker 3: Another person said, who's to say you won't get married
• 37:51
  Speaker 3: in twenty years? Things could absolutely change. It's also a
• 37:54
  Speaker 3: fat take. Then I've got a little too parter. Often
• 37:57
  Speaker 3: parents want their kids to get married, so they're happy
• 38:00
  Speaker 3: to put that bill. Some want kids to buy homes,
• 38:04
  Speaker 3: so they gift a house deposit. Everybody is different. And
• 38:07
  Speaker 3: then I have three more for you. I have one
• 38:09
  Speaker 3: more two parter. Someone said, so, before becoming a parent,
• 38:12
  Speaker 3: I would have totally thought it was unfair and that
• 38:14
  Speaker 3: they should be compensated in another way. But now as
• 38:17
  Speaker 3: a parent, I know that I don't owe my kids
• 38:20
  Speaker 3: any money at all. And then the last one is
• 38:24
  Speaker 3: equality versus equity. If you're not having a wedding or
• 38:27
  Speaker 3: a baby, then you actually don't need help with that expense.
• 38:30
  Speaker 3: Why are you asking? Oh that makes sense to actually yeah,
• 38:33
  Speaker 3: so yeah, but that's why it's so nuanced. Yeah, but
• 38:36
  Speaker 3: like I actually kind of like that. Your parents have said,
• 38:39
  Speaker 3: our values are if you choose to get married, we
• 38:41
  Speaker 3: are happy to put that bill. Yes, Like we're not gifting.
• 38:45
  Speaker 3: Like I think in the flip side, your parents could
• 38:47
  Speaker 3: turn around and say, well, Jessica's getting married. If she
• 38:50
  Speaker 3: asked us for twenty thousand dollars, we'd say no. But
• 38:53
  Speaker 3: if she's getting married, we will put that bill because
• 38:55
  Speaker 3: that's aligned to our values and our goals and what
• 38:58
  Speaker 3: we want to be spending our money on. But if
• 39:00
  Speaker 3: she chooses not to get marrible, we're not funding it.
• 39:02
  Speaker 2: Well, that's true. And I guess it's like, are you
• 39:04
  Speaker 2: gonna have a birthday party this year? Yes, well I
• 39:06
  Speaker 2: pay for it. If you don't, then.
• 39:07
  Speaker 3: I'm not paying for your birthday listen movie not getting
• 39:09
  Speaker 3: cash instead?
• 39:10
  Speaker 2: Yeah yeah yeah, And.
• 39:11
  Speaker 6: After the wedding, they're not going to have cash to show,
• 39:13
  Speaker 6: but they're not going to be better off they just
• 39:15
  Speaker 6: paid for the wedding.
• 39:16
  Speaker 2: I guess it okay, but again it's.
• 39:18
  Speaker 3: Just about like, let's really thinking this through. And I
• 39:21
  Speaker 3: think that's where you know, when I distell it down,
• 39:23
  Speaker 3: maybe it's because I've had so many conversations, and maybe
• 39:26
  Speaker 3: I have been privy to a lot of entitlement throughout
• 39:30
  Speaker 3: my career, and that's because I worked in the ultra
• 39:32
  Speaker 3: high net wealth space, And like, I cannot tell you
• 39:35
  Speaker 3: how many times I've wanted to fly across a table
• 39:38
  Speaker 3: and fly kick someone because I'm like, can you not
• 39:40
  Speaker 3: see the privilege that you have? And you're still complaining? Like,
• 39:44
  Speaker 3: I don't know, I just maybe that's coming out of
• 39:46
  Speaker 3: me in a little bit of a spicy way today.
• 39:49
  Speaker 3: So maybe I need to go to McDonald's and get
• 39:51
  Speaker 3: a really crispy coking cold.
• 39:53
  Speaker 2: All right, Well that's the end of the show.
• 39:55
  Speaker 3: Then, guys, thank you so much for sticking around for
• 39:57
  Speaker 3: another Friday episode, and we'll see you bright and early
• 39:59
  Speaker 3: on Monday day morning for a money diary, Bye Buys.
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