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Broke for Brunch, But Not Designer Bags? · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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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
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
0:30
Speaker 1: today and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money. She's on the Money.
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Speaker 2: Hello, and welcome to She's on the the podcast. Are
1:01
Speaker 2: millennials who want financial freedom. Today is Friday, my friends,
1:05
Speaker 2: which means it is time to get our little team
1:07
Speaker 2: together and celebrate you our incredible She's on the Money community. Today,
1:11
Speaker 2: Jess is going to be sharing our favorite money wins.
1:13
Speaker 2: We're going to be helping to ads a juicy money
1:16
Speaker 2: dilemma which this week is all about hex and indexation,
1:19
Speaker 2: and we're going to be unpacking something that you slid
1:22
Speaker 2: into our DMS about this week. We're going to be
1:24
Speaker 2: talking about what to do when you have a friend
1:26
Speaker 2: who always claims to be in quotation marks poor but
1:29
Speaker 2: has a new bag or a new dress every single week.
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Speaker 4: Bick.
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Speaker 2: Is this something that you can relate to like kinder
1:39
Speaker 2: to a degree. Oh, it's a hard one because I'm
1:42
Speaker 2: probably that friend. But I feel like whenever I do
1:45
Speaker 2: get a little bit of extra cash to splash, I
1:47
Speaker 2: will buy nice things for myself because I don't usually
1:50
Speaker 2: get to.
1:51
Speaker 4: So it's hard to say.
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Speaker 2: But if someone has something new every week, they're like, oh,
1:55
Speaker 2: maybe you've got well waiting till we hear the DM. Yeah, okay,
2:00
Speaker 2: good idea. Yeah, really dive into it. How have your
2:02
Speaker 2: weeks been my friends? Well, pretty good. It's the last
2:06
Speaker 2: week of the comedy festival and I've just been cramming, cramming. Yeah,
2:12
Speaker 2: you would have been so good at UNI. That's exactly
2:15
Speaker 2: how he got by.
2:17
Speaker 4: Yeah you got to cram.
2:18
Speaker 5: Yeah you gotta wait till last minute.
2:20
Speaker 2: Yeah, you gotta get it all done. ADHD is literally
2:22
Speaker 2: the only way I functioned us. Yes, anything we ever do,
2:26
Speaker 2: good luck getting it from me only.
2:28
Speaker 4: Not us booking our flights for a hotel internationally from
2:33
Speaker 4: the tarmac of the plane to the hotel. Oh my
2:39
Speaker 4: traumatic experience.
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Speaker 2: Yes, that is so funny. Yes did you get there?
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Speaker 4: Yes? I did, and I stay to Sea Land. So
2:45
Speaker 4: not a word of a complaint from me.
2:48
Speaker 2: I don't know what she complains about. Honest to god,
2:51
Speaker 2: that was a good experience. It was very funny. Actually,
2:53
Speaker 2: now you bring that up. We were literally on the time.
2:55
Speaker 2: I just like if you booked, and I was like, no,
2:57
Speaker 2: let's do that. Then we went to do seal triggered.
3:02
Speaker 2: That is so stressful on the edge. Baby, It all
3:07
Speaker 2: worked out, That's what matters. No, Well, how's your week being, Jess?
3:10
Speaker 2: Not as stressful as the time I did that to you.
3:12
Speaker 4: Not as stressful as that. Thankfully, it's been good. I've
3:14
Speaker 4: been tasked with renovating my boyfriend and his brother's childhood
3:17
Speaker 4: cubby house for my new baby nephew. Oh my god,
3:20
Speaker 4: very fun right on my alley. Can't afford to renovator house, Well, renovator.
3:24
Speaker 2: You know what there what you get and you don't
3:26
Speaker 2: get up yet.
3:27
Speaker 4: Yeah, but this week I scored a kids like play
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Speaker 4: kitchen for free of Facebook market Place three. Yeah. It's
3:33
Speaker 4: well loved, but I'm going to upcycle it and make
3:36
Speaker 4: it really cute and it'll go in the cubby and
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Speaker 4: it'll be a nice little addition that cost us basically nothing.
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Speaker 2: So good it is that you've got to keep an
3:42
Speaker 2: eye out because I bought a kid's kitchen a little
3:44
Speaker 2: while ago. You guys have heard about this a million
3:46
Speaker 2: times if your she's on the money OG's. But they
3:49
Speaker 2: also give away all of the kids kitchen new tensils
3:52
Speaker 2: on Facebook marketplace, So keep an eye out for that,
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Speaker 2: because like they need their cuts and sauces to sell
3:56
Speaker 2: their eight dollar alertos.
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Speaker 4: Of course they do. That's fair means.
4:00
Speaker 2: No, absolutely, it is not. Let's get into that though.
4:03
Speaker 2: That was a cute segue. You did, good, honey, Jess.
4:07
Speaker 2: What have you got when it comes to community money
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Speaker 2: wins and confessions for us this week?
4:11
Speaker 4: Well, speaking of coffee, my first money win comes from Nicole,
4:14
Speaker 4: who said money win. My boss took everyone out for
4:16
Speaker 4: lunch today and paid, so I got free lunch and coffee.
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Speaker 2: That's a good money in very good money.
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Speaker 4: In In other news, I made my last payment on
4:24
Speaker 4: my after page day and I closed my account.
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Speaker 2: That's actually queen behavior. That's better than free lunch.
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Speaker 4: Yeah, I would say so, as well, well done, Nicole.
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Speaker 4: My next money win comes from Sarah, who said she's
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Speaker 4: started a new way of saving, call to the fun tacks.
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Speaker 4: Every time I do something a little this like a
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Speaker 4: cheeky Woolies run for dessert or a kmart trip, I
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Speaker 4: get five to twenty dollars cash out and chuck it away.
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Speaker 4: It's not about doing less but saving more, and it's
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Speaker 4: what works for me.
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Speaker 2: I had so much fun reading through the comments on that,
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Speaker 2: because the comments on that particular comment were people being
4:52
Speaker 2: like confused because I was too.
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Speaker 5: Child wouldney every time you're at the the market?
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Speaker 2: And then the comments were why would you chuck money
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Speaker 2: in the bin. It turns out that's not it. She
5:05
Speaker 2: meant chuck it away into a savings account, stash it away. Yeah,
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Speaker 2: like save it No, I see put the money in
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Speaker 2: the bin.
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Speaker 4: Okay, well when I read that, throwing out all my money?
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Speaker 2: So you get what you get here, we get.
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Speaker 4: The next money wind comes from Gladys, who said I
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Speaker 4: finally gave notice on what is now my previous rental,
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Speaker 4: and after a bit of back and forth with the
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Speaker 4: whole situation, I got my bond back fully refunded.
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Speaker 2: Yeah that's a win.
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Speaker 4: That's a hard one because they come for your money.
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Speaker 2: That is very hard. When we got our bond back
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Speaker 2: in full from our last rental, I was shook. Didn't
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Speaker 2: expect it was like that never comes back, you never
5:42
Speaker 2: get it out. It doesn't matter. They always find some
5:45
Speaker 2: reason why they can't give it back. Yeah.
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Speaker 4: No, definitely have been there not on. My next money
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Speaker 4: wind comes from Cassie who said huge money whin. I
5:53
Speaker 4: saw the sheets on the money Instagram story just in
5:56
Speaker 4: time to book all of my japan accommodation for my
5:58
Speaker 4: holiday later on this year, which I've been putting off doing.
6:01
Speaker 4: And I scored myself four hundred and seventy two dollars
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Speaker 4: and seventy three cents back in my shop back account
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Speaker 4: because they had the fifteen percent cash back.
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Speaker 2: Fifteen percent cash back on a holiday. Beck amazing in
6:13
Speaker 2: I'm going to start using this thing. I only just
6:15
Speaker 2: really learned about it. I mean, I know you guys
6:17
Speaker 2: talk about it sometimes better. So do you know what
6:18
Speaker 2: I did earlier today? This is so lame. This isn't
6:21
Speaker 2: even sponsored sounds it it's not. I gave Beck and Maddie.
6:26
Speaker 2: Maddie's new to the team. You guys will meet her
6:28
Speaker 2: soon a tutorial on shot back and how to use it.
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Speaker 4: Very cool.
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Speaker 2: I was like, this is how it works, this is
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Speaker 2: where the money goes, this is how you cash it out.
6:35
Speaker 2: This is like where you can see where the good
6:37
Speaker 2: discounts are. How's it work? Like we did a full tutorial.
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Speaker 2: It's really fun. I love and I've been using shop
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Speaker 2: back back a new marketing manager.
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Speaker 4: I've been using them for years. They're so good And
6:49
Speaker 4: if you're not following us on Instagram, I would highly
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Speaker 4: recommend it and join our Facebook group because we do
6:53
Speaker 4: obviously work with shot back from time to time, and
6:55
Speaker 4: we always cherry pick the best deals to share.
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Speaker 2: We're not going to share one that's not going to
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Speaker 2: excite you. I don't want to put up a deal
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Speaker 2: and be like you get half a percent back on
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Speaker 2: this good deal. No, that's embarrassing, Like I'm not going
7:07
Speaker 2: to promote that.
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Speaker 4: But a lot of the time the good ones are
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Speaker 4: like a small window only like this holiday one was
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Speaker 4: I think ten am to six pm. So make sure
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Speaker 4: you join the group, follow us on Instagram because when
7:16
Speaker 4: there are really good ones, we do try our best
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Speaker 4: to share them, even if they're not sponsoring. Because it
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Speaker 4: is just four hundred dollars back for doing.
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Speaker 2: It's a lot of money.
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Speaker 4: It's free money, so much money. But anyway, enough about that,
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Speaker 4: let me continue on. My next money win is from
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Speaker 4: Sky who said money win, My partner went to buy
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Speaker 4: tickets for the AFL gather round off marketplace. I mean,
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Speaker 4: you mean the gather around is some kind.
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Speaker 2: Of someone somewhere is laughing very hard related inability to
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Speaker 2: understand what this is sports woho.
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Speaker 4: She said the man gave them to him for free
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Speaker 4: because he couldn't make it, which I thought was just
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Speaker 4: really nice.
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Speaker 2: So he's actually really cool.
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Speaker 4: And then my last money in this week is from
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Speaker 4: Carra who said I got married this weekend. Big life win. Congratulations, congratulations.
7:55
Speaker 4: A few weeks ago, I realized I didn't have a
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Speaker 4: jacket option for Melbourne's unpredictable April weather, so way to
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Speaker 4: side to look into faux for options. The ones I
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Speaker 4: liked were all in the three to four hundred dollars range,
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Speaker 4: so I decided to put my sewing skills to use
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Speaker 4: and trot it off to spot see what the fabrics
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Speaker 4: they had found the perfect option and spent seventy dollars
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Speaker 4: to make everything I needed for a cape and there's
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Speaker 4: a really cute photo showing their wedding that they put
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Speaker 4: on the spread. So good, how nice, congratulations Caakara.
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Speaker 2: Cara and mister Kara and he's just Ken.
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Speaker 1: Yeah.
8:30
Speaker 2: Alright, let's go to a really quick break and after
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Speaker 2: the break, we're going to talk about our juicy money dilemma,
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Speaker 2: but we're also going to be talking about hex and indexation.
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Speaker 2: So I mean, given that's basically the hottest topic in
8:41
Speaker 2: our Facebook group, Oh my god, I know you guys
8:43
Speaker 2: aren't going anywhere.
8:48
Speaker 4: Welcome back, everybody. Let's jump in to the money Dilemma
8:52
Speaker 4: for the week.
8:54
Speaker 2: Hi. There, have you got a money dilemma you just
8:56
Speaker 2: can't solve? The She's on the Money team is here
8:59
Speaker 2: to help. Every week we tackle your dilemmas, both big
9:02
Speaker 2: and small, to answer your most burning money, career and
9:05
Speaker 2: life questions. To get involved, simply head to our website
9:08
Speaker 2: and leave us a short voice recording and you might
9:10
Speaker 2: just find yourself on the show. Now, let's take a
9:13
Speaker 2: listen to this week's money Dilemma.
9:18
Speaker 6: Hey, guys, really love the podcast. Just wanted to ask
9:20
Speaker 6: a quick question about Hex and the indexation. There's been
9:24
Speaker 6: rumors that the indexation is going to be at seven
9:26
Speaker 6: point nine percent this year, and I have a hex
9:29
Speaker 6: set of about forty five thousand. I'm just really wondering
9:33
Speaker 6: whether it's worth paying off some of my hex stet
9:36
Speaker 6: to reduce the indexation just because I don't want a
9:39
Speaker 6: snowball effect. If you could just give some advice, that
9:41
Speaker 6: would be really greatful. A lot of unique students who
9:43
Speaker 6: are in the same situation as me, thank you.
9:46
Speaker 4: When I say we have had so many dms on
9:49
Speaker 4: this topic. We have had so many dms on this
9:52
Speaker 4: topic I can't even tell you. And I'm kind of
9:54
Speaker 4: curious because I don't have a HEC step, but my
9:55
Speaker 4: partner does. He recently graduated and VD I'm very interested
9:59
Speaker 4: to hear it to say on this.
10:01
Speaker 2: So I really don't want to talk about this because
10:03
Speaker 2: it makes me really mad. And I feel like as
10:06
Speaker 2: much as there's you know, a beautiful education system here
10:09
Speaker 2: in Australia, and that is, from my perspective, a really
10:12
Speaker 2: great process, like indexing it by seven percent, like it
10:16
Speaker 2: feels like a revenue raising tactic, like why would they
10:20
Speaker 2: increase it? Anyway, We've got a lot to say about this,
10:23
Speaker 2: So your hex slash helped it or like any vocational loan,
10:26
Speaker 2: is expected to increase by this saying up to seven
10:29
Speaker 2: percent on the first of June, which is in line
10:32
Speaker 2: with the rising cost of living. There has been a
10:35
Speaker 2: lot of talk about it, and the Green Senator last
10:39
Speaker 2: year actually introduced a bill to pause indexation and increase
10:42
Speaker 2: the repayment threshold, which is very, very good. But last
10:46
Speaker 2: week that bill was rejected, so we know that now
10:50
Speaker 2: that indexation is going to come into force, which is
10:53
Speaker 2: a little bit disappointing. I don't know, I feel like
10:55
Speaker 2: there should have been an outcome. The freezing would have
10:57
Speaker 2: been really good. But to be honest, the freezing what
11:00
Speaker 2: that would have actually done, is just like kind of
11:02
Speaker 2: put off the inevitable. Wouldn't have happened now, it would
11:04
Speaker 2: have happened later, and in this economy, to be honest,
11:07
Speaker 2: let's just get it over and done with. At the
11:09
Speaker 2: same time, I don't think families that are already struggling
11:14
Speaker 2: to pay mortgages and put roofs over their heads and
11:17
Speaker 2: pay the grocery bills needed this, like it just it's
11:20
Speaker 2: obscene to think that the government's like, do you know what,
11:23
Speaker 2: while you're down, we might just give you a little kick,
11:26
Speaker 2: a little bit of another nudge like it just why why?
11:30
Speaker 2: So the number of HECX and Help loans in Australia
11:33
Speaker 2: has gone up sharply, from six hundred thousand loans in
11:37
Speaker 2: twenty sixteen to nearly eight hundred and thirty thousand loans
11:41
Speaker 2: in twenty nineteen. This is going to impact eight hundred
11:44
Speaker 2: and thirty thousand Australians, which is a lot of people.
11:48
Speaker 2: And when it comes to the proposed changes, it really
11:51
Speaker 2: really depends on what your personal circumstances are, because I
11:55
Speaker 2: think a lot of us, you know, we've always spoken
11:58
Speaker 2: about the difference between good, bad, and okay debt, and
12:01
Speaker 2: we've always said on the podcast, hex shouldn't be seen
12:05
Speaker 2: as a bad debt because it's something that's constructive for
12:08
Speaker 2: your financial future. It doesn't have quote an interest rate,
12:12
Speaker 2: does have indexation, which at this point in time is
12:15
Speaker 2: really important to talk about. But at the end of
12:18
Speaker 2: the day, we really need to talk about what this
12:20
Speaker 2: indexation rate actually means for you personally. So let's go
12:25
Speaker 2: back in time. Last year twenty twenty two, the indexation
12:29
Speaker 2: rate was three point nine percent that we weren't happy with.
12:32
Speaker 4: I remember us being annoyed when that happened that we
12:35
Speaker 4: won't spoke about it on the podcast.
12:36
Speaker 2: We spoke about it on the pod because we were
12:38
Speaker 2: really really salty about it because the year before it
12:42
Speaker 2: was point six percent, and it was point six percent
12:45
Speaker 2: because the year before it was one point eight and
12:47
Speaker 2: they did a little bit of a freeze because of COVID,
12:49
Speaker 2: So they're like, let's just not do this, like we
12:51
Speaker 2: can't do this, and for the previous years, like if
12:54
Speaker 2: we go back twenty twenty, twenty, nineteen, twenty eighteen, twenty seventeen,
12:57
Speaker 2: it's like one point eight, one point nine, one point five,
13:00
Speaker 2: I have one point five. So this seven or potentially
13:03
Speaker 2: seven percent increase, that's wild. It is in line with
13:07
Speaker 2: the rate of inflation here in Australia, and we've talked
13:10
Speaker 2: about it on the podcast before. Cash rate increases in
13:12
Speaker 2: Australia can sometimes be a good thing because the reason
13:16
Speaker 2: the cash rate is increased each time by the RBA
13:19
Speaker 2: is essentially to stop the rate of inflation. The RBA
13:22
Speaker 2: is actively trying to make sure that we don't end
13:24
Speaker 2: up having our hex stets inflated by seven percent. They
13:27
Speaker 2: don't actually want that because it's not actually good for
13:29
Speaker 2: the economy because at the end of the day, jess
13:31
Speaker 2: if hypothetically you're paying seven percent more on your hex stet,
13:35
Speaker 2: that's seven percent more income that you don't have to
13:38
Speaker 2: spend on disposable things and disposable things that helps the
13:42
Speaker 2: economy go round. The economy isn't just held up by
13:45
Speaker 2: us buying toilet paper in mass amounts, right. So I
13:48
Speaker 2: think it's one of those things where we need to
13:51
Speaker 2: talk about the rise stinging because it is going to sting.
13:56
Speaker 2: But at the end of the day, getting a good
13:57
Speaker 2: education is still the best thing in the long term.
14:01
Speaker 2: I'm not here saying you have to go to university
14:03
Speaker 2: to get a good job. I didn't exactly I didn't,
14:05
Speaker 2: But I am the biggest advocate of you doing you
14:09
Speaker 2: and what works for you. And as somebody who is
14:12
Speaker 2: arguably over educated and has a team of people who
14:15
Speaker 2: I would say, yess what, most of our team didn't
14:18
Speaker 2: go to UNI, and if they did go to UNI,
14:19
Speaker 2: they're not working in their field. Like I just don't
14:21
Speaker 2: think in twenty twenty three it is as important to
14:24
Speaker 2: have an education to be successful. If you are tenacious
14:27
Speaker 2: and driven and have the grit to get there genuinely.
14:31
Speaker 2: But if you want to work as a doctor, got
14:33
Speaker 2: to go to UNI. Can't just decide, oh, well, I
14:35
Speaker 2: don't want to go to UNI, but I do want
14:36
Speaker 2: to do that job. You want to be a nurse, Great,
14:38
Speaker 2: you've got to go get that degree, and that is
14:41
Speaker 2: totally okay. I mean, you might not even know what
14:43
Speaker 2: you want to do, but you do know that you
14:45
Speaker 2: want to study. Great, go do an arts degree. I
14:47
Speaker 2: started there, I transferred over to psychology because at the start,
14:50
Speaker 2: I was like, do I don't know? I don't know.
14:52
Speaker 2: I think it's really important to just choose your own path.
14:56
Speaker 2: But at the end of the day, I want you
14:58
Speaker 2: to be in the best possible pause And the best
15:01
Speaker 2: way to create financial freedom for yourself is to create
15:04
Speaker 2: a career and to create a cash flow system that works.
15:09
Speaker 2: And a part of a good cash flow system, from
15:11
Speaker 2: my perspective, is having an income stream, and usually that
15:15
Speaker 2: is a job. It's not usually upfront an investment. Because
15:18
Speaker 2: I don't know about you guys. Not a trust fun
15:21
Speaker 2: baby can't relate to that. I wish I would love
15:23
Speaker 2: to be a trust fund baby. My dog acts like
15:25
Speaker 2: a trust fund baby, and I say every second day
15:28
Speaker 2: I'm like, I want her life like that looks lid
15:30
Speaker 2: Bluesy's my favorite NEPO baby. Yeah. Honestly, when I have
15:34
Speaker 2: real babies, they will not be nearly as entitled as Lucy.
15:39
Speaker 2: She can have whatever she wants. My kids, they're gonna
15:41
Speaker 2: have to work for it. Yeah, like Nepo baby doggo.
15:44
Speaker 4: Yeah. So what about the people like this listener who
15:46
Speaker 4: have completed their course, They've got their forty five thousand
15:49
Speaker 4: dollars of debt or whatever and are going, oh, my gosh,
15:51
Speaker 4: seven percent? Do I pay it off? Do I not
15:54
Speaker 4: pay it off? What were your thoughts kind of around
15:56
Speaker 4: what they could maybe consider.
15:58
Speaker 2: Yeah, look, at the end of the day, it's going
15:59
Speaker 2: to be different based on your personal circumstances. So, if
16:02
Speaker 2: you're earning more than forty eight thousand, three hundred and
16:04
Speaker 2: sixty one dollars, your employer should be deducting a percentage
16:08
Speaker 2: of your income from your pay slip to actually go
16:11
Speaker 2: towards that HEX step.
16:13
Speaker 4: You have to tell them to do that. They don't
16:14
Speaker 4: just know that you have HECTA. You've got to check
16:16
Speaker 4: the box.
16:16
Speaker 2: Oh, you've got to tix, You've got to chick the box.
16:18
Speaker 2: If you have hextet you need to tick the box.
16:20
Speaker 2: If you're not sure, email your HR manager or whoever
16:23
Speaker 2: is in charge of payroll and go, hey, am I
16:26
Speaker 2: paying Hex? You can sign into your ATO portal and
16:29
Speaker 2: see if you have or haven't paid HEX for the
16:32
Speaker 2: last financial year. Keep in mind, though, that these figures
16:36
Speaker 2: often are only updated maybe once a year by the
16:38
Speaker 2: ATO because they only consolidate all that data when you
16:42
Speaker 2: do your tax return. So if you haven't done your
16:44
Speaker 2: tax return and you're trying to see how much hext
16:46
Speaker 2: you've paid, the ATO is like, well, I don't know,
16:48
Speaker 2: because did you have any additional deductions? Did you have
16:50
Speaker 2: any additional contributions? Like we haven't you know, done the
16:53
Speaker 2: maths on that yet, So it's not going to be there.
16:56
Speaker 2: Complete sidebar. If for some reason they're not paying it
16:59
Speaker 2: and they should have been paying it, talk to fair Work,
17:02
Speaker 2: have a chat to them. Fair Work are brilliant. So
17:05
Speaker 2: this is called a pay as you go with holding,
17:08
Speaker 2: and that would be on your pay slip and that
17:10
Speaker 2: amount is kind of like applied to your compulsory payment.
17:14
Speaker 2: So it's just at a base you'll have to pay
17:16
Speaker 2: a certain amount of money each and every single week
17:19
Speaker 2: based on what you earn right. Anything above and beyond
17:22
Speaker 2: that is called a voluntary payment, and that's where I
17:25
Speaker 2: guess this conversation opens up. Should we be making voluntary
17:28
Speaker 2: contributions to paying down our hex stet if inflation has
17:32
Speaker 2: gone up by seven percent? Obviously this is a very
17:37
Speaker 2: stressful question to answer because it is you know, one,
17:41
Speaker 2: I can't give you personal financial advice because that would
17:43
Speaker 2: be wildly irresponsible. But it's also going to depend on
17:45
Speaker 2: your circumstances. I think we need to look at, well,
17:47
Speaker 2: what is seven percent of your hex step, how much
17:51
Speaker 2: is it going to increase by? How much do you
17:53
Speaker 2: now need to contribute to keep up? And could that
17:57
Speaker 2: money have been used somewhere else. I am a very
18:01
Speaker 2: big advocate of, you know, paying it down if you've
18:03
Speaker 2: got the free cash flow. And I mean, I've got
18:04
Speaker 2: some people in our community I've been talking to and
18:06
Speaker 2: they are paying down their hextet at the moment with
18:09
Speaker 2: additional voluntary contributions. And the reason that they're doing that
18:13
Speaker 2: is because they know that their hextet at the level
18:15
Speaker 2: it's at impacts their borrowing capacity for purchasing a house
18:19
Speaker 2: by one hundred thousand dollars. I get that, Jess. You're
18:22
Speaker 2: in the process of potentially buying a house. If I said, hey,
18:25
Speaker 2: do this, you'll get an extra one hundred grand.
18:27
Speaker 3: Oh done?
18:28
Speaker 2: Yeah to borrow. Yeah, you would smash that out because
18:31
Speaker 2: that's a value to you. There are going to be
18:33
Speaker 2: other people, Like, let's look at my personal financial situation.
18:36
Speaker 2: I still have a very large hex step. My hextet
18:39
Speaker 2: I think today is sitting at about eighty thousand dollars.
18:42
Speaker 2: It was one hundred thousand dollars, like more than one
18:44
Speaker 2: hundred thousand dollars a little while ago, and then I
18:46
Speaker 2: like partied when I logged in and saw that it
18:48
Speaker 2: was like not six figures anymore. That was hot, nice,
18:52
Speaker 2: really hot. I haven't made additional financial contributions to that
18:56
Speaker 2: because I don't need the borrowing capacity. But also I'm
19:00
Speaker 2: just looking at it going my money at the moment,
19:02
Speaker 2: with the rising cost of living, with the fact that
19:05
Speaker 2: I have a mortgage. And please do not think for
19:08
Speaker 2: even two seconds I'm complaining. This is just an example.
19:11
Speaker 2: My mortgage has more than doubled in its interest repayments
19:15
Speaker 2: in the last eight months. I just go, you know what,
19:18
Speaker 2: I'd much prefer to start paying off my house, and
19:21
Speaker 2: I would happily just watch my hex stets sit over
19:23
Speaker 2: there and tick off at the minimum amount over the
19:26
Speaker 2: period of time that it's going to be paid off in. Right. Yeah,
19:30
Speaker 2: So for me, it's not a driving force. I know
19:33
Speaker 2: that by making that decision, though, the indexation of my
19:37
Speaker 2: hextet is going to increase by a fair few thousand dollars. Yeah,
19:40
Speaker 2: it's not like a little amount of money. We're not
19:43
Speaker 2: talking about, okay, Victoria's just a couple of one hundred bucks,
19:46
Speaker 2: so it's ten bucks. It's going to be a fair
19:48
Speaker 2: few thousand dollars. Is that okay in my eyes at
19:52
Speaker 2: this point? Yes, Because even though on my approximately eighty
19:56
Speaker 2: thousand debt at seven percent of an inflation rate, it's
19:59
Speaker 2: probably like six and a halve seven thousand dollars ish
20:02
Speaker 2: to me paying additional I'd actually prefer seven grand on
20:06
Speaker 2: my mortgage at the moment. I'd actually prefer seven grand
20:08
Speaker 2: to go towards a big financial goal that I'm working towards,
20:13
Speaker 2: because in the grand scheme of things, I know how
20:16
Speaker 2: the indexation on a hex step is going to work
20:19
Speaker 2: in the future, and in the future it's going to
20:21
Speaker 2: drop back down. This is like a once off kind
20:23
Speaker 2: of thing. It might go up, it might go down.
20:26
Speaker 2: But at the end of the day, from my perspective
20:28
Speaker 2: for my own personal circumstance, I know, okay, cool, I'll
20:31
Speaker 2: cop that so that I can actually just continue on
20:34
Speaker 2: with the financial goals. I've got right to pay off
20:37
Speaker 2: an eighty thousand dollars debt. What's the plan there? Do
20:40
Speaker 2: I pay off another seven grand this year? Do I
20:43
Speaker 2: pay half? What does that actually look like? And what
20:46
Speaker 2: could that money have actually been used for? In let's
20:50
Speaker 2: call it the real world. Right now, the ATO aren't
20:53
Speaker 2: coming for you to make additional voluntary repayments. If for
20:57
Speaker 2: some ungodly reason, I become completely unemployed and have absolutely
21:02
Speaker 2: no income. I know that my hex stet is not
21:04
Speaker 2: something that someone is going to chase me for.
21:06
Speaker 5: Yeah, I was gonna ask, actually because I this might
21:09
Speaker 5: seem really ignorant, But when I did say I didn't
21:11
Speaker 5: go to union. I mean, I don't have any degrees
21:12
Speaker 5: or any qualifications, but I did when I was younger,
21:14
Speaker 5: go to like start things and then never finish them.
21:18
Speaker 2: Very common in our community, and I never stressed about
21:21
Speaker 2: hexts will happen if you don't pay for it. I
21:23
Speaker 2: heard you say that something about borrowing power, like it
21:25
Speaker 2: maybe influences that, But what really is the worst that
21:28
Speaker 2: will happen if you don't pay your hex debt at
21:31
Speaker 2: a reasonable time. I mean, if you don't make the
21:34
Speaker 2: compulsory repayments right like which are taken out of your paycheck,
21:38
Speaker 2: and for some reason you told your employer that you
21:41
Speaker 2: didn't have a hex stet and they gave that money
21:43
Speaker 2: to you and they weren't making those payments. At tax time,
21:46
Speaker 2: they'll give you a debt, so you have to pay that.
21:48
Speaker 4: That happened to my friend he over It wasn't even
21:50
Speaker 4: he missed his payments. He earned more than he thought it.
21:53
Speaker 4: He's a tradee earned more than he was predicted to
21:55
Speaker 4: earn because he was doing hips overtime and the end
21:58
Speaker 4: of the financial year, they were like, you have to
22:00
Speaker 4: pay off your entire outstanding hext step, which is pretty scary.
22:03
Speaker 4: That's obviously a very extreme circumstance. Like he worked crazy
22:07
Speaker 4: amounts of overtime.
22:08
Speaker 2: Because yeah, it can be scary. That's why we're saying
22:11
Speaker 2: check like make sure that if you have a hex
22:12
Speaker 2: step you are making contributions. They actually won't chase you
22:16
Speaker 2: for more than the minimum contributions each year, and you
22:19
Speaker 2: only have to make those contributions if you make over
22:21
Speaker 2: the minimum threshold. And it is the only debt in Australia. Morbid.
22:25
Speaker 2: But it's the only debt in Australia that dies with you.
22:28
Speaker 2: If you have a personal loan that will pass on
22:30
Speaker 2: to your estate, and you know, any profit that comes
22:33
Speaker 2: out of your state will have to pay off your debt.
22:35
Speaker 2: But your hex stet is just wiped if you die.
22:38
Speaker 2: I think that's relatively amazing. I mean, we could also
22:42
Speaker 2: use the example of should I make additional superannuation contributions
22:46
Speaker 2: or pay off my hex stet or should I same
22:49
Speaker 2: situation slightly different because of the tax ramifications, but should
22:53
Speaker 2: I be investing in the share market or should I
22:55
Speaker 2: be paying off my hex stet?
22:58
Speaker 4: Too much to cover right now?
23:00
Speaker 2: Episode do? Yeah, let's do an entire episode. But I
23:03
Speaker 2: guess the grand scheme of things. Let's just put two
23:06
Speaker 2: examples on the table and you guys can tell me
23:08
Speaker 2: what makes sense. Your HEXTEBT is sitting at X amount
23:12
Speaker 2: and you're going to get indexed seven percent on that
23:16
Speaker 2: you have an additional thousand dollars that you could either
23:19
Speaker 2: contribute to your hextet or put in the share market.
23:21
Speaker 2: The Australian share market over the last twenty years has
23:24
Speaker 2: returned an average of eleven percent. You will get an
23:28
Speaker 2: average return of seven percent. By putting your thousand dollars
23:31
Speaker 2: into your hextet and paying that off early, you will
23:34
Speaker 2: get an eleven percent return. If you put it into
23:37
Speaker 2: a share portfolio, you would probably also get a higher
23:40
Speaker 2: return because if you put it into the suberannuation environment,
23:43
Speaker 2: there would be a whole heap of other tax benefits
23:46
Speaker 2: associated with that, and at a minimum, you're probably making
23:49
Speaker 2: an additional what twenty one percent if you are at
23:52
Speaker 2: the lower marginal tax bracket or the average marginal tax
23:56
Speaker 2: bracket and you are contributing to Super, so your money
23:59
Speaker 2: is immediately worth twenty one percent more inside Super than
24:02
Speaker 2: not because the superannuation environment is fifteen percent instead of
24:06
Speaker 2: your marginal tax bracket eleven percent plus that twenty one
24:09
Speaker 2: percent or seven percent on your hex about there's a
24:14
Speaker 2: lot to think about, but I think it's all about
24:17
Speaker 2: where is the power Because right now that example of
24:20
Speaker 2: that thousand dollars for Jess might mean a lot more
24:23
Speaker 2: because her next big financial goal is buying a house
24:27
Speaker 2: might mean nothing to you, Beck because you're like, I'm
24:29
Speaker 2: not paying off my HEX stet also not buying a house,
24:32
Speaker 2: So like, why would I want a seven percent return
24:35
Speaker 2: when I can get an eleven percent return for the
24:37
Speaker 2: money that I want to, you know, quote invest excess.
24:40
Speaker 2: So I think it's different horses for different courses. There
24:42
Speaker 2: is not one answer to this. It's going to be
24:46
Speaker 2: very different. Does it suck? Absolutely? Can you make voluntary
24:50
Speaker 2: repayments at any time you want? Absolutely? You can? Does
24:53
Speaker 2: it mean you should know?
24:55
Speaker 1: So?
24:55
Speaker 2: I think it's all about what you want to do.
24:59
Speaker 2: And at the end of the day, everyone's personal financial
25:02
Speaker 2: circumstances are different, and it's all about even whether you
25:06
Speaker 2: have that. Please do not feel guilty or upset if
25:09
Speaker 2: this indexation happens and on the first of June you
25:13
Speaker 2: are so upset because your hex was indexed by seven
25:17
Speaker 2: percent you don't have the free cash flow to pay
25:19
Speaker 2: more off. Baby. It's fine, It's fine, is what it is.
25:22
Speaker 4: It is what it is.
25:24
Speaker 2: We're just going to keep on keeping on that you
25:27
Speaker 2: can exactly. We're all doing the best that we can.
25:29
Speaker 2: This is only if you had additional funds. Yeah, yeah,
25:33
Speaker 2: which if you and far between at this point in time,
25:35
Speaker 2: tell me about it, and it's exactly and this's economy.
25:38
Speaker 4: Indeed, speaking of having additional funds, though someone slid into
25:41
Speaker 4: our DMS this week, didn't they about a friend who
25:43
Speaker 4: may or may not have some of those funds available.
25:47
Speaker 2: I feel like this is a really judge you one.
25:48
Speaker 2: Are you ready? Are you ready? I don't know if
25:50
Speaker 2: I'm ready. I feel like the judgment is coming out
25:53
Speaker 2: so our DM this week. Jess, You're right, I feel
25:56
Speaker 2: like it's going to get a little bit spicy. Alright, Hi, ladies.
25:59
Speaker 2: I have a close friend who spends heaps of money
26:02
Speaker 2: on what I would view as unnecessary items. Say it
26:05
Speaker 2: be a nice bag or nice jewelry. I suppose a
26:08
Speaker 2: lot of materialistic things. But then she always complains about
26:13
Speaker 2: being poor and having no money. When it asked her
26:15
Speaker 2: to catch up for bunch or for dinner, she tells
26:17
Speaker 2: me she can't afford to do this with me as
26:19
Speaker 2: she has no money. I also know she hasn't been
26:22
Speaker 2: able to make her rent payments some months and has
26:24
Speaker 2: to do it sos to her parents. I get super
26:27
Speaker 2: frustrated with this and feel like she's prioritizing money to
26:30
Speaker 2: the wrong things in life and neglecting our friendship. I
26:33
Speaker 2: know I shouldn't judge her on what she chooses to
26:36
Speaker 2: spend her money on, and I need to deal with
26:38
Speaker 2: my feelings, but this is so hard for me to
26:40
Speaker 2: watch and to watch her do this. Any advice is appreciated.
26:44
Speaker 4: It's a complicated one, isn't it.
26:46
Speaker 2: Yeah, it's a while time at a housemate that was
26:49
Speaker 2: like this, how frustrating because then it actually kind of
26:52
Speaker 2: like impacts you.
26:53
Speaker 4: Yeah, yeah, yeah, And it was.
26:54
Speaker 5: Kind of weak because I don't think she like I
26:56
Speaker 5: would feel really awkward asking someone for anything, even to
27:00
Speaker 5: like pass the salt on a dinner table or something,
27:03
Speaker 5: but she would very comfortably and casually ask to borrow
27:06
Speaker 5: money every now and then. And I'm like, it took
27:08
Speaker 5: a while because it's very awkward and someone asks you,
27:11
Speaker 5: it's awkward to say no. But I could see that
27:13
Speaker 5: she was like anyway, and buying this new car, buying
27:16
Speaker 5: this EA scooter, and also can I borrow money for rent?
27:19
Speaker 2: And scooter is so specific. I hope she evencause she's great.
27:26
Speaker 2: She's a great person, but very very funny with money. Yeah,
27:29
Speaker 2: So I can definitely relate to this, and I think
27:32
Speaker 2: we've all had a friend, yes, at some point.
27:35
Speaker 4: Yes, I feel like until you said the rent thing,
27:38
Speaker 4: I was kind of like, oh, like, let her do
27:39
Speaker 4: what she went with her money. You know, it's not
27:41
Speaker 4: our place. As soon as you said the rent thing, though,
27:43
Speaker 4: I was like, it's not our place to judge other
27:46
Speaker 4: people's spending habits. But it sounds like at the same time,
27:49
Speaker 4: she's being enabled by the people around her, like her
27:52
Speaker 4: parents and things like that, to make probably questionable financial choices.
27:58
Speaker 4: I can understand how the person who's into us, the friend,
28:01
Speaker 4: is feeling neglected. And you know, it's hard to say, oh,
28:04
Speaker 4: I can't afford to go out for dinner with you,
28:06
Speaker 4: which would be maybe fifty dollars, but I can buy
28:08
Speaker 4: this expensive pair of shoes and you go okay. So
28:10
Speaker 4: I'm not feeling like the priority here, and that's maybe
28:14
Speaker 4: what she's feeling extra gross about rather than the actual
28:17
Speaker 4: semantics of the spending habit.
28:19
Speaker 2: Yeah, I would argue. I guess from my perspective that
28:24
Speaker 2: you know, we all have different values, Jess. You and
28:26
Speaker 2: I love a brunch, so to you and I not
28:28
Speaker 2: going out for much. Sorry, not an option will be
28:31
Speaker 2: doing that.
28:31
Speaker 4: It's probably why Jess hasn't bought a house yet, let's
28:33
Speaker 4: be honest.
28:35
Speaker 2: Exactly, But if her values are on something that's not that,
28:40
Speaker 2: Like some people don't care for going out for brunch.
28:42
Speaker 2: Some people don't care about spending lots of money out
28:45
Speaker 2: socializing because it's just not their vibe. And then they go,
28:48
Speaker 2: you know what, I really want to invest in these
28:50
Speaker 2: clothes or this bag or some jewelry, Like I mad
28:54
Speaker 2: respect for that. I think that if that's the case,
28:56
Speaker 2: you need to just have a chat with your friend about, well,
28:58
Speaker 2: how can we catch up? What's the best way to
29:01
Speaker 2: catch up, Like we've talked about it on the pod before.
29:03
Speaker 2: Maybe you could go for a walk with your friend,
29:05
Speaker 2: make coffees at home, and take them to the park
29:07
Speaker 2: and have a mini breakfast picnic. Like there are so
29:09
Speaker 2: many things that you could do with a friend that
29:12
Speaker 2: does not involve money. I don't know. I think that
29:15
Speaker 2: if you think that you have to spend money to
29:17
Speaker 2: catch up with someone, you don't have a good relationship.
29:21
Speaker 2: Like I just think that good relationships. I don't care.
29:24
Speaker 2: I'll go wherever you want to go, back John to
29:26
Speaker 2: sit in your car and talk for two hours like that,
29:28
Speaker 2: I would do that, Like, do you know what I mean?
29:30
Speaker 2: It's I just want to see you as an individual.
29:32
Speaker 2: I don't care about the experience. If it's the experience
29:35
Speaker 2: you're craving, maybe you need to find a friendship that
29:38
Speaker 2: also has the exact same values so that you know.
29:42
Speaker 2: When Beck you say I don't really like brunch, I go, oh, well,
29:45
Speaker 2: maybe I'll just do that activity that I want to
29:47
Speaker 2: do with Jess. So I think it's about that, But
29:51
Speaker 2: just that overlay you mentioned about the rent, so you're
29:54
Speaker 2: saying it's a bit irresponsible at a layer of complexity
29:57
Speaker 2: because then you go, well, is it my job as
29:59
Speaker 2: a friend to kind of point out that perhaps the
30:03
Speaker 2: choices that she's making are you know, if you continue
30:06
Speaker 2: that habit, your parents aren't always going to be there
30:08
Speaker 2: to value out right, and so at some point she's
30:11
Speaker 2: going to have to learn to prioritize the more important
30:14
Speaker 2: things from the less important things. But then it's hard
30:16
Speaker 2: because you're like, well, I'm her friend, not her mum,
30:17
Speaker 2: and so you know, where do you how do you
30:19
Speaker 2: make the choice? And we obviously know nothing about this
30:22
Speaker 2: girl's financial circumstances in exactly the same way as this
30:26
Speaker 2: friend who's written in has no idea about her financial circumstances.
30:31
Speaker 2: We have not been told what she earns. We don't
30:33
Speaker 2: know what on average she spends. You could look at
30:36
Speaker 2: me and go, oh, he's really irresponsible. I love a
30:40
Speaker 2: nice pair of shoes, adore. You might have heard me
30:43
Speaker 2: say something, and actually you never would have heard me say, oh,
30:46
Speaker 2: I'm so poor, Like that's just not something that would
30:48
Speaker 2: come out of my mouth because it's just not true.
30:51
Speaker 2: Let's be honest. And I also hate when people say
30:54
Speaker 2: things like I'm so poor and you want to shake
30:56
Speaker 2: them and be like, you have an emergency fund, you
30:59
Speaker 2: have access to money, you have a job, sit down like, no, no,
31:03
Speaker 2: you're not poor. You have made some poor decisions, which
31:06
Speaker 2: means the one thing that you want to do right
31:09
Speaker 2: now is not in reach. Like it does frustrate me.
31:12
Speaker 2: And obviously, in this circumstance, if she's not able to
31:15
Speaker 2: make rent, I'm assuming she also doesn't have an emergency fund,
31:18
Speaker 2: which then tells me she probably needs to learn a
31:21
Speaker 2: bit more about budgeting cash flow. Personally, I don't know
31:24
Speaker 2: how you guys are going to approach this, but personally
31:26
Speaker 2: I would not be bringing it up with my friend
31:29
Speaker 2: because I don't think it's my position, Jess, to tell
31:31
Speaker 2: you how to live your life. If you said, oh,
31:34
Speaker 2: I really wish I knew more about it, I will
31:36
Speaker 2: help you. If you showed any interest in that, I'll
31:40
Speaker 2: be all over it. Maybe I'd even share as she's
31:42
Speaker 2: on the Money episode and be like, oh my gosh, Jess,
31:44
Speaker 2: I really enjoyed this episode. It was one of my faves.
31:46
Speaker 3: Yep.
31:47
Speaker 2: But I don't think it's your position because who knows.
31:50
Speaker 2: Maybe her parents have a relationship. When we talked about
31:53
Speaker 2: this on the Bank of Mum and Dad. What if
31:55
Speaker 2: her parents are the type of parents that actually really
31:57
Speaker 2: really really want to give their child that and feel
32:01
Speaker 2: as though that's their obligation. I don't know, what are
32:04
Speaker 2: cultures like. Maybe that's a part of it. Yeah, I
32:07
Speaker 2: don't know, but it's not my place to judge. And
32:09
Speaker 2: I think that, Yeah, I just don't think i'd be
32:12
Speaker 2: bringing it up. What would you guys be doing.
32:14
Speaker 4: I feel like I would probably be touching on the
32:16
Speaker 4: how I'm feeling in the relationship thing, saying that I'm
32:19
Speaker 4: feeling neglected and feeling like I'm not a priority because
32:22
Speaker 4: you're happy to spend on other things and not things
32:24
Speaker 4: that I want to do. Where do we meet in
32:26
Speaker 4: the middle have that kind of conversation. Yeah, it is
32:28
Speaker 4: hard to jump in and give someone advice on something
32:30
Speaker 4: if I haven't asked for it, particularly on finance, because
32:32
Speaker 4: some people are not as comfy talking about it as
32:35
Speaker 4: our team is because we do it every day. So
32:38
Speaker 4: for some people it can be a really tough conversation
32:40
Speaker 4: to broach as well.
32:41
Speaker 5: Yeah, that's true. I think that I kind of do this.
32:44
Speaker 5: I don't think i'd be able to mention or bring
32:46
Speaker 5: it up to them either.
32:47
Speaker 2: But I mean, lived with someone and you didn't bring
32:49
Speaker 2: it up. You just cowardly were like no exactly.
32:51
Speaker 5: But I'm wondering if they were a little bit closer
32:53
Speaker 5: to me than maybe I would. But I guess, like
32:56
Speaker 5: it really it really just depends, because like I can't
32:59
Speaker 5: tell if this person coming from a place of like
33:01
Speaker 5: like you're saying, Jess, like they're feeling a bit neglected
33:03
Speaker 5: and they're feeling like they're not a priority, or if
33:05
Speaker 5: they're coming from a place where they're genuinely concerned for
33:08
Speaker 5: this person's financial wellbeing. And I think it's probably a
33:12
Speaker 5: combination of both. I could be wrong, though, but I
33:14
Speaker 5: would say it seems like this person is lucky enough
33:18
Speaker 5: to have the bank of mom and dad and be
33:20
Speaker 5: able to, you know, still make rent, you know, with
33:24
Speaker 5: like kind of filling in the gaps with their parents' money,
33:26
Speaker 5: and they seem to be doing okay. But I would say,
33:29
Speaker 5: if it is more so you're feeling neglected, I would
33:31
Speaker 5: kind of say the same thing, just kind of broach it,
33:33
Speaker 5: or try and find a way where you don't have
33:35
Speaker 5: to spend money hanging out with this person and then
33:37
Speaker 5: for everything else it's far too complicated, Like they don't
33:41
Speaker 5: seem to have much financial literacy.
33:42
Speaker 2: It feels like maybe they were.
33:44
Speaker 5: They didn't grow up with that, and that's okay. I'm
33:47
Speaker 5: certainly there and I can certainly relate to that. So
33:50
Speaker 5: maybe they have a shopping addiction as well. Who knows.
33:53
Speaker 4: It's all going on?
33:54
Speaker 2: Really unpacking this one, Yeah, Jesus, let's talk about what
33:56
Speaker 2: the community had to say before we let you, you guys,
34:00
Speaker 2: give us your two cents. We asked, do you have
34:03
Speaker 2: a friend like this? Sixty percent of you said yes,
34:06
Speaker 2: pretty common. But the second question we asked was do
34:10
Speaker 2: you find yourself sometimes judging your friend on what they
34:12
Speaker 2: spend their money on. Yeah, ninety percent of you said, yes,
34:15
Speaker 2: we've been there. We've all been there. Thank you for
34:17
Speaker 2: being honest, like we're not mad. Then our next question
34:22
Speaker 2: was do you at times prioritize spending money on your
34:25
Speaker 2: wants rather than your needs? Sixty eight percent of you
34:28
Speaker 2: said yeah, we do.
34:29
Speaker 4: Again, we've all been there, We'll be there.
34:31
Speaker 2: Then we asked you for your two cents, and so
34:34
Speaker 2: we have a heap of responses which happen inside stories.
34:37
Speaker 2: But then we also actually had fair few dms, so
34:39
Speaker 2: we'll get through a lot of those. Very popular opinion
34:42
Speaker 2: is it's not your job to save your friend or
34:44
Speaker 2: bail them out. She'll change her ways when she wants
34:47
Speaker 2: to and feels like she needs to. Other comments said
34:50
Speaker 2: things like it's her money, so it's her business unless
34:52
Speaker 2: she starts to ask you for money, which is a
34:55
Speaker 2: good I guess segue. I mean, jessef I then was
34:58
Speaker 2: talking to you about, Hey, Jess, can I borrow money?
35:00
Speaker 2: Then it's like, hey, I feel like this happens a
35:02
Speaker 2: fair bit. So's a soft launch. Yeah, because you've been
35:05
Speaker 2: invited into the conversation about money with them. A lot
35:08
Speaker 2: of people just said, not your problem. Other people's habits
35:11
Speaker 2: and priorities are not your business. Someone said, isn't she
35:15
Speaker 2: just prioritizing her money on things she wants to spend
35:17
Speaker 2: her money on. So the good point my friend. Then
35:20
Speaker 2: in some of the DMS we had, someone said, if
35:23
Speaker 2: she's truly her friend, she should keep her opinions to herself.
35:26
Speaker 2: Her friend's choices as to how she spends her money
35:28
Speaker 2: are hers to make, and the consequences she'll bear is
35:32
Speaker 2: slash when the well eventually drives up from her parents.
35:35
Speaker 2: Just live your own life according to your own values
35:38
Speaker 2: and let others live their lives too. If it means
35:41
Speaker 2: her friend isn't able to afford to come to brunch
35:43
Speaker 2: because rent is due were then that's her problem. Maybe
35:46
Speaker 2: one day she'll wake up and get real about her finances,
35:49
Speaker 2: or maybe she won't. If it bothers this girl that much,
35:52
Speaker 2: probably best to move on from that friendship. Another person said, comment,
35:57
Speaker 2: you didn't ask for ve I worry my friend's like
36:00
Speaker 2: this with me. I have a weekly spend for anything recreational,
36:04
Speaker 2: and I usually spend it each week. So planning to
36:06
Speaker 2: spend one hundred and fifty dollars on cocktails and an
36:09
Speaker 2: art class next week, for example, is so hard because
36:12
Speaker 2: I'm already in this week and have used what I
36:14
Speaker 2: could and have put a side for that. And on
36:17
Speaker 2: the flip side, my friends see me do things that
36:20
Speaker 2: they don't realize I had the budget for, so I
36:22
Speaker 2: stress that they think I don't want to do things
36:24
Speaker 2: with them. I do, but it has to be the
36:27
Speaker 2: week in advance, so I can manage myself and my
36:29
Speaker 2: money and take into consideration my previously made plans.
36:34
Speaker 4: It's a good point, a very good point, for sure.
36:37
Speaker 2: It's a good point. And I think that that's where
36:40
Speaker 2: I wanted to like end it with the like community comments,
36:43
Speaker 2: because it was from the flip side. It was from
36:45
Speaker 2: the side of well, actually, maybe my friends think like
36:48
Speaker 2: this type of stuff about me, because sometimes they ask me, oh,
36:51
Speaker 2: jess can you out to brunch? Well, maybe you in
36:53
Speaker 2: your food, fuel and fun account have nothing left. Yeah,
36:56
Speaker 2: and that's so fun because you've been budgeting properly. But
36:59
Speaker 2: if you know Jessica Ricci well Beck, you know she
37:02
Speaker 2: has her food you'll in fun account. You also know
37:05
Speaker 2: she keeps a very strict budget for fashion and other
37:09
Speaker 2: items that she's saving to buy because that is in
37:12
Speaker 2: line with her values, so genuinely, in the same week
37:15
Speaker 2: that Jess might say no to me to go into brunch,
37:18
Speaker 2: she might go, I'm gonna go buy address because she's
37:21
Speaker 2: been saving for it.
37:22
Speaker 5: Yeah, always another side to the story.
37:25
Speaker 4: Yeah, I feel like that's the perfect takeaway from it.
37:27
Speaker 2: Perfect takeaway.
37:28
Speaker 4: I don't know what's going on with someone else, You
37:29
Speaker 4: don't know how they've structured their.
37:30
Speaker 2: Life, and it's none of your damn business.
37:33
Speaker 4: And on that note, let's go.
37:35
Speaker 2: I hope you guys have the most beautiful weekend and
37:37
Speaker 2: we'll see you for Money Diaries on Monday. Bye guys, Bye,