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FRIDAY DRINKS: Wedding & Inflation Interplay · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud your
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Speaker 1: the Order, Kernie Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.
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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
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Speaker 1: the storytelling of you to make a difference for today
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Speaker 1: and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
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Speaker 3: She's on the Money, She's on the Money.
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Speaker 4: Hello and welcome to She's on the Money, the podcast
1:01
Speaker 4: for millennials who want financial freedom. Today is Friday, which
1:05
Speaker 4: means it is time to sit back with the girls
1:07
Speaker 4: with a bev in hand to unpack our favorite moments
1:09
Speaker 4: of the week, and of course, guys, to celebrate you
1:13
Speaker 4: how incredible She's on the Money community. As always, we're
1:16
Speaker 4: going to be sharing our favorite money wins, We're going
1:18
Speaker 4: to discuss what's making news in the finance world, and
1:21
Speaker 4: we're going to be helping to answer a juicy money
1:23
Speaker 4: question which this week is all about whether you should
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Speaker 4: rush into home ownership with not many savings or wait
1:28
Speaker 4: until you have more capital. But more on that later,
1:31
Speaker 4: because I want to dive straight in to recap the
1:34
Speaker 4: week that was, and I'm going to tell you about
1:36
Speaker 4: our money diarist. Oh Jess, I wrote her name at
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Speaker 4: the top of the paper and I nearly read it out.
1:41
Speaker 4: That could have been a catastrophe. But close, okay, very
1:43
Speaker 4: close calls. So this week's money darist really got me
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Speaker 4: in the fields. Jess one, she was an absolute legend.
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Speaker 4: She has a partner, she's really established, she's got such
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Speaker 4: great savings goals and hacks. But when she was twenty
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Speaker 4: three years old, her partner left her at seven and
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Speaker 4: a half month pregnant and she had no idea what
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Speaker 4: to do. So obviously, when her son turned three months old,
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Speaker 4: she just started casually her bachelor's degree. Of course, having
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Speaker 4: a newborn apparently really easy. And then when he was
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Speaker 4: four months old, Get this, Jess. She moved to an
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Speaker 4: Aboriginal community because she was really passionate about having an impact,
2:19
Speaker 4: and that really came across. But she also had worked
2:21
Speaker 4: out that a lot of her living expenses would be
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Speaker 4: subsidized and it would all work out really well for her.
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Speaker 4: So she put herself in a position where she was
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Speaker 4: able to save two thirds of her income basically with
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Speaker 4: a newborn or a four month old, and by the
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Speaker 4: time she was twenty six, she had finished her bachelor's degree,
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Speaker 4: purchased her house all by herself, and her son is thriving.
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Speaker 4: And this story was, from my perspective, one of my
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Speaker 4: favorite ones because it was really I grew up in poverty.
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Speaker 4: I didn't have a lot story, but I wanted to
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Speaker 4: make the most out of my life. We really spoke
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Speaker 4: about indigenous communities and the impact you can have there
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Speaker 4: and that there are so many special roles you can
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Speaker 4: do to work in those spaces. And I just feel
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Speaker 4: like it shone a light on something that I had
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Speaker 4: not thought of before, because at twenty three, like, what
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Speaker 4: do you do with a four month old? Like that
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Speaker 4: would be terrifying. I totally get it. But not only
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Speaker 4: did she kind of take life by the reins, she
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Speaker 4: just made it work and is better for it like
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Speaker 4: she is just anyway. I'm obsessed with her, and that
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Speaker 4: was my favorite part of my week this week. Jess,
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Speaker 4: Oh my gosh, she sounds incredible. Would you like to
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Speaker 4: hear about Wednesday's deep dive? Obviously, yes, I'd be as
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Speaker 4: good as our money diary though you were there, but
3:29
Speaker 4: we're stone middle school. We spoke all about points hacking.
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Speaker 2: Yeah, definitely not as good.
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Speaker 4: And despite all of the recent kuffle, this was not
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Speaker 4: an episode about getting your rewards points stolen. It was
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Speaker 4: all about maximizing the benefits of your points to get
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Speaker 4: freezings like flights and upgrades and hotel rooms, groceries and
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Speaker 4: all kinds of other fun things. And we run through
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Speaker 4: some really tangible tips and tricks. We spoke about a
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Speaker 4: few different reward systems and things that are out there
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Speaker 4: that people could look at leveraging, and we spoke about
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Speaker 4: both credit and non credit options. So regardless of where
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Speaker 4: you fall on the spectrum, whether you have a credit
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Speaker 4: card and you want to use that to your advantage,
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Speaker 4: or whether you're someone like me who is like I
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Speaker 4: don't want that, I don't trust myself with that, there
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Speaker 4: are still other great options out there for you as well.
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Speaker 4: Do you know who's really good at points hacking that
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Speaker 4: we didn't mention in the episode, True Glenn James from
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Speaker 4: My Millennial Money. Glenn is a legend at yeah, literally
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Speaker 4: so good at it. It was so frustrating just to
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Speaker 4: drop the fact that we went to the US earlier
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Speaker 4: this year again he was there and us flips back
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Speaker 4: of the plane, Glenn James front of the plane, rude,
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Speaker 4: the man who is doing something right, Yeah, and it
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Speaker 4: is upgrading his flights using his points because he's like,
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Speaker 4: I'm not paying for that, and I'm like, look sir, understood,
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Speaker 4: but also teach me your ways. And instead of asking him,
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Speaker 4: we did it ourselves. Yeah, we did the strong independent
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Speaker 4: women who need no man. We are ready to be
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Speaker 4: points hacking queens. So hopefully people enjoyed that episode. It's
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Speaker 4: something that we get asked about a lot in the
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Speaker 4: Facebook group, and it was really fun to kind of
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Speaker 4: dive into all the different options that are out there.
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Speaker 4: All right, Jess, enough about Glenn James. I have heard
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Speaker 4: enough about him today. But what I want to hear
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Speaker 4: about now is our budget direct community, money wins and
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Speaker 4: confessions of the week.
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Speaker 2: What have we got?
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Speaker 4: All right, let's kick it off with a hot wine
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Speaker 4: from Nadia, who said money win. Finally, I made five
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Speaker 4: hundred dollars this weekend babysitting. Are three kids?
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Speaker 2: Five hundred bucks.
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Speaker 4: I know, I say, good wicket, babysitting three kids overnight
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Speaker 4: instead of going down to Sydney for the weekend and
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Speaker 4: spending money, the cash is going to go straight.
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Speaker 2: Looking after kids to make kids.
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Speaker 4: Oh, it's like a practice, like a little full circle moment. Also,
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Speaker 4: do you know what that tells me? Five hundred bucks
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Speaker 4: babysitting a kind of ford?
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Speaker 2: Kids? Kids are expensive?
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Speaker 4: Really? When people say like, oh, your life will change here,
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Speaker 4: I am being like, you know what, I'm trying really
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Speaker 4: hard to create the life that I really want to
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Speaker 4: live and earn the income that really I still can't
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Speaker 4: afford what people are talking about when it comes to
5:51
Speaker 4: like daycare, what childcare expenses, all of this stuff about babysitting,
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Speaker 4: like it's so expensive. One of the girls on our
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Speaker 4: team does baby sitting on the side, like on the
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Speaker 4: weekends or after school, and she makes an innings from that,
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Speaker 4: Like she makes so much money, And it just reminds
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Speaker 4: me that I'm just like, you know what, when Steve
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Speaker 4: and I do decide to have kids, they're coming everywhere
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Speaker 4: with me. Because I can't afford this life. I just
6:14
Speaker 4: can't justify it. I will spend it on experiences that
6:17
Speaker 4: I can also experience. I would just like to know
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Speaker 4: if anyone else picked up on the fact that you
6:20
Speaker 4: just use not one, but two cricket metaphors, which I
6:23
Speaker 4: can you tell that over the period of time, Steve
6:27
Speaker 4: is talking non stop about cricket. I'm like, I've never
6:32
Speaker 4: heard you say that in my life. Oh, I've spent
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Speaker 4: too much time recently with my dad and with Steve.
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Speaker 4: And you know what, they can't wait for Boxing day
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Speaker 4: test match. Oh, you know what I can wait for
6:42
Speaker 4: Boxing day test match. Oh my gosh, relatable content. Now
6:46
Speaker 4: I've got a money loss for you. Turning tables a
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Speaker 4: little bit from Lucy who said money loss. Went out
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Speaker 4: to dinner with family and friends and got the bill
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Speaker 4: because the place didn't split bills, sent my bank details
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Speaker 4: and the receipt and weeks later there is still no
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Speaker 4: bank transfer or quet. That's the worst feeling in the world.
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Speaker 2: Did she say family as well?
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Speaker 4: Yeah, guys, harass your family, Like, if there's anyone you
7:09
Speaker 4: can harass, it's your family. But also really poorform from
7:12
Speaker 4: your friends. Lucy, I'm so sorry. I just don't understand
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Speaker 4: the audacity of people doing that because you don't know
7:17
Speaker 4: the financial circumstance somebody else is in regardless of the
7:20
Speaker 4: fact that that should not matter. But like, what if
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Speaker 4: Lucy needs that money to make bills? What if Lucy
7:25
Speaker 4: needs that to put food on the table. Like what
7:28
Speaker 4: if Lucy had really really budgeted to go out for
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Speaker 4: that nice meal and had gone, you know what, I
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Speaker 4: can spend up to twenty five dollars and we don't
7:34
Speaker 4: know her from a bar of soap at this point,
7:36
Speaker 4: but like, there are a lot of people that would
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Speaker 4: have budgeted for that experience and been like, all right,
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Speaker 4: I'm gonna pick something on the menu so that I can,
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Speaker 4: you know, stick to the budget that I've got.
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Speaker 2: And then, you know, being the good girl that she
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Speaker 2: clearly is.
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Speaker 4: She's like, I'll pick up the tab, It's okay, you
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Speaker 4: guys will pay me back, And then she didn't get
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Speaker 4: paid back. Like that's just the worst. It's gonna give
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Speaker 4: people anxiety to go out for dinner with you guys. Again.
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Speaker 4: It's just not kind, No, not at all, And it
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Speaker 4: stresses me out knowing our owe people money, Like I
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Speaker 4: just can't imagine being like, ah should be right, as
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Speaker 4: you know, Jess, I hate or in people money. It
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Speaker 4: is not a thing that I enjoy, But who does
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Speaker 4: enjoy that? I want people to slide into my dams.
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Speaker 4: If you don't pay stuff back, slide into my dams
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Speaker 4: and tell me why. Yeah, why do you have the audacity?
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Speaker 4: Because I want to share that because I think that
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Speaker 4: that is Are you lazy? Are you just rude? Forgetful? Maybe?
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Speaker 2: Are you forgetful?
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Speaker 4: Yeah? If you're forgetful, does it not weigh on your conscience?
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Speaker 4: Like I just have so many questions? Anyway, Lucy, that
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Speaker 4: is a money loss and we're sorry about it. Moving
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Speaker 4: right along to money win though from Caitlin. She says
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Speaker 4: money when I was going to buy a new dress
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Speaker 4: for an event but found something that I already owned,
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Speaker 4: which was perfect. We'll always be happy to re wear
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Speaker 4: a dress to save some money. Yeah, because you're a
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Speaker 4: genius and I just stand the attitude rewear don't care.
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Speaker 2: I love that. I mistill that.
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Speaker 4: To hashtag use it ladies. Next money win is from Alice,
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Speaker 4: who said money win. I took a gamble on an
8:56
Speaker 4: interstate market for my small business, which I was hesitant
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Speaker 4: about do due to the high rent and expenses. I
9:03
Speaker 4: killed it and made enough money to not have to
9:05
Speaker 4: do any more markets for the rest of the year,
9:07
Speaker 4: which means I can spend more time at home with
9:09
Speaker 4: my family. Oh my heart, how holdsome that is a
9:11
Speaker 4: money win? What makes me feel almost better about the
9:14
Speaker 4: last money loss? Yeah, keep killing it, Alice, hope your
9:16
Speaker 4: small Beers is going really well. That's a really solid
9:19
Speaker 4: way to be going into the Christmas steel.
9:21
Speaker 2: Folsom as well.
9:22
Speaker 4: I love when you hear about small business owners trying
9:24
Speaker 4: to like weigh up the pros and cons and then
9:25
Speaker 4: you hear that they've just had like a success.
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Speaker 2: It makes me want to be like, Yeah, let's body.
9:30
Speaker 4: Get it, coueen. I have a short one from Bridget
9:33
Speaker 4: who said money win. Bought new Nike Air Forces for
9:35
Speaker 4: forty five dollars because I fit in kids shoes A yeah, genius.
9:39
Speaker 4: I love that big one. And last one I have
9:41
Speaker 4: here is from Joyce, who said money win. I received
9:44
Speaker 4: my long service leave payout after finalizing up with my
9:47
Speaker 4: previous job, and it couldn't have come at a better time.
9:50
Speaker 4: We've managed to pay off all of our outstanding short
9:52
Speaker 4: term debts and have set up a savings plan moving forward.
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Speaker 4: Love get it, Joyce, I love that so much? All right,
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Speaker 4: Jess as always, it has been great celebrating some of
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Speaker 4: your budget Direct money wins and confessions. Budget Direct winner
10:05
Speaker 4: of Canstar's Insurer of the Year Award twenty twenty two.
10:08
Speaker 4: Budget Direct Insurance solved brilliant. Should we go to a
10:11
Speaker 4: cheeky break and then come back and talk all things
10:14
Speaker 4: all wedding. We'll see you on the flip side. I'm
10:16
Speaker 4: going to discuss Lucy's family in the break. Welcome back
10:23
Speaker 4: every body, Thanks for having me. Oh you're welcome anytime
10:27
Speaker 4: to my show.
10:29
Speaker 1: To my show.
10:29
Speaker 2: Addresses on the money.
10:30
Speaker 4: Yeah, oh my god. Can you imagine it would be
10:32
Speaker 4: a total disaster. But today I want to talk about
10:33
Speaker 4: an interesting article I read and I thought it was
10:35
Speaker 4: very timely because what have you done recently to do
10:38
Speaker 4: with you know, yourself and a man and a very
10:41
Speaker 4: important day? What are you talking about? I think you
10:43
Speaker 4: might have got married? Who did that? She's a WIFEI
10:47
Speaker 4: do not say that again. Who will lose your privileges
10:50
Speaker 4: on this podcast? Okay, I'm so sorry, but I read
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Speaker 4: a really interesting article about weddings the other day and
10:55
Speaker 4: it was saying that the you will lose money and
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Speaker 4: it will be a bad in Is that what it
11:00
Speaker 4: said more or less, Oh yeah, relatable. It essentially said
11:04
Speaker 4: that inflation is hitting people so hard that weddings that
11:08
Speaker 4: were postponed during COVID are costing guests as much as
11:12
Speaker 4: an additional twenty thousand dollars because their vendors are going, Sorry,
11:17
Speaker 4: food's more expensive, you've got to pay more. Sorry, the
11:19
Speaker 4: cost of flower is more expensive, You've got to pay more.
11:22
Speaker 4: All of these things, And obviously with COVID, so many
11:24
Speaker 4: people put their weddings off. So I wanted firstly to
11:27
Speaker 4: talk about I guess weddings in regards to inflation, but
11:30
Speaker 4: also v to just kind of get your perspective on
11:32
Speaker 4: what your experience was like, because you're like the freshest
11:35
Speaker 4: guinea pig I could possibly find. I'll be honest, Our
11:38
Speaker 4: budget absolutely blew out, which is why you guys didn't
11:41
Speaker 4: see any budgeting tips before the wedding. Not because I'm
11:45
Speaker 4: embarrassed by it, Like I'm in a very privileged position
11:48
Speaker 4: where we are okay financially after that. But there were
11:52
Speaker 4: a lot of things that either came back higher than
11:56
Speaker 4: what I had anticipated or quotes that I got that
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Speaker 4: I was just not happy with. So I adore every
12:01
Speaker 4: single one of the vendors that we had at our wedding,
12:04
Speaker 4: and we're not talking about them here at all, because
12:06
Speaker 4: I don't want you to think if I'm talking about flowers,
12:08
Speaker 4: I'm like, oh my god, wild loss were so expensive,
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Speaker 4: Like that, wasn't it. We got value for money there,
12:12
Speaker 4: but we obviously went and got other quotes and I
12:15
Speaker 4: was gobsmacked. It'll be obvious now I got married on
12:18
Speaker 4: the Morning to Peninsula. But they also had ridiculous travel fees.
12:23
Speaker 4: And I'm not saying don't charge travel fees like if
12:25
Speaker 4: you're a vendor, but like, can you just build it
12:28
Speaker 4: into the cost so it doesn't feel like you're charging
12:30
Speaker 4: me six hundred dollars to drive from Melbourne down to
12:33
Speaker 4: the Peninsula because I don't mean to be rude, but
12:36
Speaker 4: that's an hour drive. I just loot of money, and
12:38
Speaker 4: with how many weddings happened down there, I didn't think
12:41
Speaker 4: it was like, oh, I'm getting married so rurally no
12:43
Speaker 4: one's ever been there, like the Morning to Peninsula is
12:46
Speaker 4: full of wineries that have weddings most weekends. And having
12:50
Speaker 4: grown up down there, I basically was a waitress at
12:53
Speaker 4: weddings for like six or seven years, like That's how
12:55
Speaker 4: I knew so deeply what I wanted, because I'm like,
12:58
Speaker 4: I've been to this wedding and this wedding, and I'm
12:59
Speaker 4: gonna pull I'm going to pull that, do you know
13:01
Speaker 4: what I mean? Like I had dreamt this up my
13:03
Speaker 4: entire life of what this would look like. So I
13:07
Speaker 4: feel like I thought I knew what I was in for,
13:09
Speaker 4: but there were additional costs and there were things that
13:12
Speaker 4: I didn't anticipate, And I don't regret any of it.
13:15
Speaker 4: I'm really really grateful, but I also just think it
13:19
Speaker 4: was ridiculous.
13:20
Speaker 2: It was a lot.
13:21
Speaker 4: But post COVID, I think that there's also been this
13:24
Speaker 4: shift of vendors needing more upfront payment because they were
13:29
Speaker 4: screwed during COVID jests. That's like the point. You know,
13:32
Speaker 4: if you were a caterer during COVID and you, you know,
13:34
Speaker 4: really successful cater out, I'm assuming you probably have a
13:37
Speaker 4: nice mortgage, like you've probably got some kids, you've worked
13:40
Speaker 4: out your business for the last ten years maybe, and
13:42
Speaker 4: you're just a wedding cater out like that's what you do.
13:45
Speaker 4: You do good food and you deliver it to weddings
13:47
Speaker 4: and people are stoked COVID would have wiped that completely
13:50
Speaker 4: because we weren't allowed to have any events, so you
13:52
Speaker 4: couldn't put food on the table for your family, you
13:54
Speaker 4: couldn't pay your mortgage. So I think we need to
13:57
Speaker 4: reframe this from the side of the small business that
14:00
Speaker 4: are charging more because they're either trying to make up
14:02
Speaker 4: for lost time or they are trying to solidify things
14:06
Speaker 4: earlier and scare away all of the time wasters who
14:09
Speaker 4: might cancel or change because they just don't have that
14:12
Speaker 4: flexibility anymore. So I think we need to be a
14:14
Speaker 4: little bit sympathetic. But I think also getting out I
14:18
Speaker 4: don't know, as a recent bride, getting our heads screwed
14:21
Speaker 4: on about how much things actually cost, I feel is
14:24
Speaker 4: really really important because you know, things do blow out.
14:28
Speaker 4: So Jess, I don't know how to say this without
14:31
Speaker 4: sounding terrible, but I'm happy to share some of the
14:34
Speaker 4: costs from my wedding, and over time we will probably
14:36
Speaker 4: share a lot more. But I always want to give
14:39
Speaker 4: a little bit of insight because I feel, do you
14:41
Speaker 4: know what, I'm really worried about being judged. I think
14:43
Speaker 4: it's no secret that my wedding wasn't a super budget
14:46
Speaker 4: DIY wedding. To be honest, I didn't have time. And
14:48
Speaker 4: I also was just so excited about this wedding. It
14:51
Speaker 4: was one of the biggest values to Steve and I.
14:53
Speaker 4: We were very excited about it. But you know, there's
14:57
Speaker 4: probably a photo that you might have seen of the
14:59
Speaker 4: champagne tower, right, And I feel like, going into that,
15:02
Speaker 4: I just assumed it wasn't that expensive, right, Like you
15:05
Speaker 4: might have a drinks package at the place that you're going.
15:08
Speaker 4: You just get some glasses and stack them, right, it
15:10
Speaker 4: will just take them after I drink them. Surely, Yeah,
15:12
Speaker 4: Like that doesn't seem like an expensive thing to do
15:15
Speaker 4: at a wedding, right, And when I added it in,
15:17
Speaker 4: I didn't realize that it actually was. So let's talk
15:21
Speaker 4: about the champagne tower for a hot second. I had
15:25
Speaker 4: to hire a specific table for the champagne glasses to
15:29
Speaker 4: be stacked on. Are they glued down like the bottom row? No,
15:32
Speaker 4: they're not glued down. They are special glasses. So we
15:35
Speaker 4: had like special crystal glasses that cost me extra to have.
15:40
Speaker 4: But I had to hire a special tray so that
15:42
Speaker 4: champagne when you poured it didn't go all over the floor.
15:45
Speaker 4: It's not a table it's like kind of like a
15:46
Speaker 4: card tray in a way, but it was like clear acrylic,
15:49
Speaker 4: and that tray you have to hire. That cost me
15:51
Speaker 4: five hundred dollars. Yes, for an acrylic tray.
15:54
Speaker 2: Yep.
15:54
Speaker 4: It did include the glasses, so I could have had
15:57
Speaker 4: the standard glasses, but your girlfriend over here is quite
16:00
Speaker 4: bogie and I wanted those, you know, like the vintage
16:02
Speaker 4: feel champagne glasses. Yep. That's an extra two hundred and
16:05
Speaker 4: fifty dollars. So just for the empty tray, you are
16:08
Speaker 4: looking at seven hundred and fifty dollars just for that experience.
16:11
Speaker 4: And then I don't think it's a secret. My favorite
16:14
Speaker 4: champagne in this entire world is Verve. Not the most
16:17
Speaker 4: expensive champagne. I mean, we're not talking about like a
16:20
Speaker 4: two thousand and one bottle of Don Peignong. We are
16:22
Speaker 4: talking about a bottle of Verve, which you can pick
16:25
Speaker 4: up your local Dan Murphy's. But not in the fridge section, Jess,
16:27
Speaker 4: which we learned last time we went to Dan Murphy's. Yes,
16:30
Speaker 4: not in the fridge section because they've got beef apparently,
16:32
Speaker 4: Oh my god, yes, remember, but you can get my
16:35
Speaker 4: way in the fridge section. No, you'll have to buy
16:37
Speaker 4: your verve from Dan Murphy's, from the aisle because they're
16:39
Speaker 4: not going to refrigerate it for you. Chill yourself.
16:41
Speaker 2: Chill it yourself.
16:42
Speaker 4: But a bottle of verve is about sixty nine dollars
16:46
Speaker 4: if you're buying it in bulk, which we had to.
16:48
Speaker 4: And to fill a champagne tower for about one hundred
16:51
Speaker 4: and thirty guests, which we had, was two thousand and
16:54
Speaker 4: seventy dollars, so that experience, which I thought would be
16:58
Speaker 4: a nice addition. And Steve, we'll just do a champagne
17:01
Speaker 4: tower instead of a cake because both of us don't
17:03
Speaker 4: really enjoy cake, but we love a good glass of champagne.
17:07
Speaker 4: Twenty eight hundred and twenty dollars. I would never like
17:11
Speaker 4: if you said to me how much you think of Sam,
17:12
Speaker 4: I wouldn't.
17:13
Speaker 2: I should have asked you before I shared it and
17:15
Speaker 2: got to know any of that.
17:16
Speaker 4: I hope that when I share stuff like this, you
17:18
Speaker 4: guys are just like, oh my god, that's ridiculous. And
17:20
Speaker 4: you know what, there are going to be some people
17:21
Speaker 4: who are like, oh, she's got rocks in her head,
17:24
Speaker 4: Like there's absolutely no way that's crazy.
17:26
Speaker 2: Like I get it.
17:27
Speaker 4: I think what you need to remember is we did
17:30
Speaker 4: our wedding with our values in mind, and that was
17:32
Speaker 4: something really important to us. And as I said just before,
17:34
Speaker 4: like we didn't have a cake, and that was the substitute,
17:37
Speaker 4: and wedding cakes can actually become quite comparable in price
17:41
Speaker 4: because of the time, energy and effort that goes into them.
17:43
Speaker 4: I'm not saying that it wasn't worth that, but I
17:45
Speaker 4: think that I hadn't conceptualized before going into there that
17:49
Speaker 4: that was twenty eight hundred and twenty dollars that I
17:52
Speaker 4: hadn't budgeted because I assumed that you would just get
17:56
Speaker 4: some glasses. How I can be chuck them on a table.
17:59
Speaker 4: After you've chucked them on the table, you just use
18:00
Speaker 4: the champagne that said the wedding that you're paying per head, right, Yeah,
18:03
Speaker 4: that would make total sense. Well, because we didn't have
18:06
Speaker 4: champagne per head, we actually had a drink's package and
18:09
Speaker 4: it included a sparkling. Yes, we probably could have used that,
18:12
Speaker 4: but like I wanted my favorite drink there, and so
18:16
Speaker 4: Steve and I sat down when we worked out how
18:18
Speaker 4: much would be and you know, went back and forth
18:20
Speaker 4: and said, is this worth it? Is it not should
18:22
Speaker 4: we just used sparkling. Should we, you know, maybe us
18:24
Speaker 4: just drink a nice glass of champagne once we get married,
18:27
Speaker 4: or should everyone have it? And I was like, no,
18:29
Speaker 4: I want everyone to have at least one nice glass
18:32
Speaker 4: of fancy champagne. And so that was a decision that
18:34
Speaker 4: we made and it really aligned with our values. But
18:37
Speaker 4: just that's a lot of money, so much, and so
18:39
Speaker 4: I think that as a bride going into a wedding,
18:42
Speaker 4: I just really didn't realize how expensive all the quote
18:45
Speaker 4: little things and if you're a bridal vendor, please skip
18:48
Speaker 4: like all of this because you're just going to be scoffing.
18:51
Speaker 4: And I didn't understand how expensive it was. But I've
18:53
Speaker 4: never done this before. I don't know how I.
18:55
Speaker 2: Was expected to know already.
18:57
Speaker 4: And I thought I was really educated on this process
19:00
Speaker 4: because I used to be a financial advisor. I would
19:02
Speaker 4: see my client's wedding budgets and what they were spending
19:05
Speaker 4: and how it worked. But like, I never paid enough
19:07
Speaker 4: attention to the detail. And I hope that that I
19:10
Speaker 4: don't know, little analogy just shares that, yeah, this stuff
19:12
Speaker 4: really does increase. And that's got nothing to do with
19:15
Speaker 4: COVID that's just some expensive thing that I had at
19:17
Speaker 4: my wedding that made me absolutely gag when I heard
19:20
Speaker 4: about it. Yeah, for anyone who did maybe get quotes
19:24
Speaker 4: twelve or so months ago all longer, it's definitely a
19:26
Speaker 4: good reminder as well to kind of go back requote
19:31
Speaker 4: because prices have definitely changed, and I feel like it's
19:33
Speaker 4: across a lot of the major categories that are already
19:36
Speaker 4: quite expensive as well, like your food, your florals, your
19:40
Speaker 4: venue as well. Ven you was the biggest expense for us,
19:43
Speaker 4: that's okay, but our venue did include food and beverage,
19:47
Speaker 4: like it was kind of an all inclusive package.
19:49
Speaker 2: But money win.
19:50
Speaker 4: We didn't get paid for the ceremony, and sometimes if
19:52
Speaker 4: you also want to get married at the venue, you
19:55
Speaker 4: have to pay an additional ceremony fee in addition to
19:58
Speaker 4: the reception, which I think is ridiculous because you're already there, right. Yeah,
20:02
Speaker 4: but a lot of places charged for that, and I
20:04
Speaker 4: didn't know until I started planning a wedding. Oh my goodness. Well,
20:07
Speaker 4: keep an eye out, guys, because we definitely will have
20:09
Speaker 4: more wedding content coming in the new year. La Victoria said,
20:12
Speaker 4: now that she's had some time to relax and think
20:15
Speaker 4: about moon and digest it all a little bit. We
20:17
Speaker 4: are definitely excited to put some more stuff out there
20:19
Speaker 4: for you guys, which I'm super excited about. But I
20:22
Speaker 4: also just think it's the most responsible thing to do
20:25
Speaker 4: now I've been through it. Now I know what this
20:27
Speaker 4: costs and how it works. How would I plan better?
20:30
Speaker 4: That's going to add way more value to you than
20:32
Speaker 4: you guys getting access to a budgeting spreadsheet that I
20:35
Speaker 4: ended up blowing out and was not nearly comprehensive enough.
20:38
Speaker 2: So I feel like I'm putting you guys in the
20:39
Speaker 2: best possible position that I can.
20:41
Speaker 4: I could not agree more. But is it about time
20:44
Speaker 4: that we listen to a money dilemma? Oh?
20:45
Speaker 2: I can't wait. Let's go.
20:49
Speaker 4: Hi there, have you got a money dilemma you just
20:51
Speaker 4: can't solve? The She's on the Money team is here
20:54
Speaker 4: to help. Every week, we tackle your dilemmas, both big
20:57
Speaker 4: and small, to answer your most burning money and life questions.
21:01
Speaker 4: To get involved, simply head to our website and leave
21:04
Speaker 4: us a short voice recording and you might just find
21:06
Speaker 4: yourself on the show. Now, let's take a listen to
21:08
Speaker 4: this week's money dilemma.
21:11
Speaker 5: I have a small deposit using the government five percent
21:14
Speaker 5: scheme to avoid el might for a chance of buying
21:17
Speaker 5: a small, two bedroom property and getting in as fast
21:22
Speaker 5: as possible with not much savings to back me up.
21:26
Speaker 6: Do I do that or do I save? At the
21:29
Speaker 6: end of next year, I would have sixty thousand dollars
21:31
Speaker 6: in savings, And do I invest that money instead in
21:35
Speaker 6: something else or just waiting by property when I've got
21:38
Speaker 6: more capital built up.
21:39
Speaker 4: Yes, I feel like this is actually a really good
21:42
Speaker 4: one for you to kick off with because you're in
21:45
Speaker 4: a circumstance where you're still looking for your first home.
21:49
Speaker 2: What would you say?
21:50
Speaker 4: I feel like as much as I understand the desire,
21:54
Speaker 4: like if I could get into a home tomorrow, I
21:56
Speaker 4: would do it. Do you know, Like I fully understand
21:58
Speaker 4: the one to get in as soon as you can,
22:01
Speaker 4: particularly with the changing rates and all of these things
22:04
Speaker 4: that kind of make it seem even more urgent than
22:06
Speaker 4: it was before. But I would be very conscious personally
22:10
Speaker 4: as someone who is risk adverse to jumping into home
22:13
Speaker 4: ownership with not a lot of money behind you, because
22:15
Speaker 4: the thing about home ownership is that you then have
22:17
Speaker 4: a lot more responsibility. So because a render if something breaks,
22:20
Speaker 4: it's actually not my problem. Like I call my property
22:22
Speaker 4: manager and I say, hey, you need to fix the
22:24
Speaker 4: dish wash and they go, okay, no problems, We'll send
22:26
Speaker 4: someone or at least I hope that's what would happen
22:28
Speaker 4: if it did break.
22:29
Speaker 2: But that's what they usually do.
22:31
Speaker 4: Yeah, that's what That's what I'm imagining if they're like
22:33
Speaker 4: a good, nice, easy landlord, but you're not what happened
22:36
Speaker 4: in my experience. But moving on, But I think that
22:39
Speaker 4: when you own the home, you've got to buy a
22:41
Speaker 4: new dish washer. That's gonna be what two grand push
22:45
Speaker 4: on this podcast about how much a new air conditioner
22:47
Speaker 4: costs me. I am a salty still, And that's just
22:50
Speaker 4: the incidental things that you don't necessarily factor in for.
22:53
Speaker 4: But then you've got your ongoing costs, your rates, if
22:56
Speaker 4: you are in an apartment, you've got strata, Like there's
22:59
Speaker 4: all of these extra costs that if you're going from
23:02
Speaker 4: renting or living at home to home ownership. As much
23:06
Speaker 4: as you're like I'm paying off something and it's mine,
23:08
Speaker 4: it's a much bigger investment a lot of the time.
23:11
Speaker 4: And I think that if you don't have a lot
23:13
Speaker 4: of money behind you, you kind of put yourself in
23:15
Speaker 4: the position where potentially you could tip yourself beyond the
23:19
Speaker 4: point of things becoming a little bit too difficult, and
23:21
Speaker 4: I would just be very anxious about that, and that's
23:23
Speaker 4: going to put you in a worse off financial position. So, Jess,
23:27
Speaker 4: that's exactly what I would have said. I just don't
23:29
Speaker 4: think getting in sooner at the cost of your financial
23:32
Speaker 4: health and your mental well being is worth it. I
23:34
Speaker 4: think that we should be putting ourselves in the best
23:37
Speaker 4: possible position. I don't think and I know this again
23:41
Speaker 4: a really privileged thing to say, but I think really important.
23:45
Speaker 4: I don't think you should be buying a house if
23:46
Speaker 4: you don't have an emergency funds left over. I think
23:49
Speaker 4: that every single person should not be using every single
23:52
Speaker 4: dollar in their account to get a mortgage, because what
23:54
Speaker 4: if you move in and then it floods the next week.
23:57
Speaker 4: I mean, I'm pretty sure, Jess. There are statistics, because
24:01
Speaker 4: I've seen them before. I will find them for another
24:03
Speaker 4: episode for you. But most incidents that happen in a
24:07
Speaker 4: property that are kind of like, you know, just from negligence.
24:10
Speaker 4: Let's call it happened in the first three months of
24:12
Speaker 4: ownership because you're just not used to that house. So
24:14
Speaker 4: leaving the bath to overrun, leaving the heater on for
24:17
Speaker 4: too long, you know, breaking something because you just didn't
24:20
Speaker 4: understand how it worked. It's gonna happen when you first
24:23
Speaker 4: move in. So I just it makes me so anxious
24:26
Speaker 4: to think that you guys would move into a property
24:28
Speaker 4: and have no backup funds and no cash to draw on.
24:32
Speaker 4: Like what if you find there's mold in the house
24:34
Speaker 4: and your building inspector didn't pick it up. There's also
24:36
Speaker 4: all of those costs right.
24:38
Speaker 2: When you're moving.
24:38
Speaker 4: If you're moving, it's a no brainer to get a
24:40
Speaker 4: building inspection. It's a no brainer to have to pay solicitors.
24:43
Speaker 4: Like the thing I would be saying is really talk
24:45
Speaker 4: to your broker, because a very good broker wouldn't let
24:47
Speaker 4: you get into a situation that is going to be
24:50
Speaker 4: at the cost of your financial security.
24:52
Speaker 2: And I know, Jess, you're.
24:53
Speaker 4: Using Kate, our broker at Zella Money, And I mean
24:56
Speaker 4: you've probably spoken to Nikki before as well, and a
24:58
Speaker 4: couple of the other girls. But Kate would absolutely just
25:01
Speaker 4: keep telling you, Jess, Nope, that's not the house for you.
25:03
Speaker 4: It's out of budget or mean that your financial circumstances
25:06
Speaker 4: would look like X, Y, and Z if you did
25:08
Speaker 4: that today, and you're like, yep, okay, no worries. So
25:10
Speaker 4: it's just so important to have somebody who wants to
25:13
Speaker 4: put you in the best financial situation. And quite honestly,
25:16
Speaker 4: that's often counterintuitive to a mortgage broker's role because they
25:19
Speaker 4: make their money from the bank when the loan settles.
25:22
Speaker 4: So it's actually kind of hard to find a broker
25:23
Speaker 4: that wants to genuinely put you in the best possible position,
25:26
Speaker 4: which is why we snapped Kate up so quickly. Ah,
25:29
Speaker 4: I feel like that's the perfect spot to leave it
25:32
Speaker 4: for today. Hopefully that helped you out, Niki, But thank
25:34
Speaker 4: you guys so much for tuning in. Don't forget if
25:36
Speaker 4: you want to join the Facebook group you can find us.
25:39
Speaker 4: There's over two hundred and sixty thousand people in there
25:42
Speaker 4: sharing their tips and tricks every single day. If you
25:45
Speaker 4: want to talk property, we also have the Property Playbook
25:47
Speaker 4: Facebook group as well. That might be a good spot
25:49
Speaker 4: for our money dilemma. If you're not into Facebook and
25:52
Speaker 4: Instagram's more your thing, we're also on there. We're on
25:54
Speaker 4: TikTok as well. You can find good She's on the
25:57
Speaker 4: monet and stop sending them there. Jess, I've got a
25:59
Speaker 4: lot to live up to. The TikTok content is great.
26:01
Speaker 4: It's like the grungy content that didn't make it Instagram.
26:04
Speaker 4: Yeah if I I only let her post it there.
26:06
Speaker 4: If Yeah, I didn't want it on the Instagram feed.
26:08
Speaker 4: So nice, nice, see thy hope, and we'll talk to
26:11
Speaker 4: you next Week'e you on Monday. Bye. The advice shared
26:19
Speaker 4: on She's on the Money is general in nature and
26:22
Speaker 4: does not consider your individual circumstances. She's on the Money
26:26
Speaker 4: exists purely for educational purposes and should not be relied
26:29
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26:32
Speaker 4: do choose to buy a financial product, read the PDS
26:35
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