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Return of the Debt: Why Does This Keep Happening To Me? · She's On The Money

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  Speaker 1: My name's Satasha Bamblet. I'm a proud First Nations woman
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  Speaker 1: and I'm here to acknowledge country. Te Glenn Young Ganya Niana,
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  Speaker 1: kaka ya Ya Binahwaka nian ur gay In Mbini, yakarum
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  Speaker 1: Jar Doumayagumika Umaga, Ihowaka Nilewaman damon Immalan, Bumba bang Gada,
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  Speaker 1: boma In and now in waka ghana on yak rum
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  Speaker 1: jar Watanadaa. Hello, beautiful friends, we gather on the lands
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  Speaker 1: of the Aboriginal people. We thank, acknowledge and respect the
• 0:28
  Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure
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  Speaker 1: in all the land and respect all that you see.
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  Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
• 0:40
  Speaker 1: bringing you the tools, knowledge and resources for you to thrive.
• 0:44
  Speaker 2: She's on the Money.
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  Speaker 3: She's on the Money. Hello and welcome to She's on
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  Speaker 3: the Money, the podcast that makes personal finances fun. You've
• 0:56
  Speaker 3: called us at our favorite time of the week. That
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  Speaker 3: is right, my friends. It is Friday drinks time where
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  Speaker 3: we get together and celebrate you our very money savvy community.
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  Speaker 3: I am Victoria Devine and while Jess is away I'm
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  Speaker 3: going to be sharing some money wins from the feed
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  Speaker 3: and joining me today is miss Beck, sayed, the brain's
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  Speaker 3: behind our weekly broke tips. Beck, are you excited to.
• 1:17
  Speaker 4: Do a V and B?
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  Speaker 3: I am, I'm scared, but I'm excited. Well, it's better
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  Speaker 3: than the B and J just like alphabetically speaking. No,
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  Speaker 3: you're so right, absolutely like it could have been a
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  Speaker 3: slippery slope. But guys, this is a g rated money podcast.
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  Speaker 3: I am more used to V yeah, yeah, yeah, yeah,
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  Speaker 3: that's true. That's true. And I'm more used to b
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  Speaker 3: ah genders. Let's not let's not talk's let's move on
• 1:48
  Speaker 3: in true Friday form, Beck, where you are going to
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  Speaker 3: be discussing a couple of timely money dilemmas concerning our
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  Speaker 3: community members debt, including how to get rid of it
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  Speaker 3: and whether you should I think that could be a
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  Speaker 3: little bit saucy, right, And if you've got a salacious
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  Speaker 3: dilemma to share with us, or a pressing DM that
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  Speaker 3: needs answering on our podcast, please send it through. We
• 2:10
  Speaker 3: don't just want to reply to your dms. We get
• 2:13
  Speaker 3: so excited to reply to your dms. And if your
• 2:15
  Speaker 3: DAM involves a little bit of cheeky side gossip that
• 2:18
  Speaker 3: we're not involved in, but we get to hear about Beck.
• 2:21
  Speaker 3: Are we there? Oh my god, I so there? With
• 2:23
  Speaker 3: bells on. Anyway, we accept love letters in our inbox
• 2:27
  Speaker 3: and voicemails on our website. Simply hit the podcast page
• 2:30
  Speaker 3: and leave your message after the beep. Speaking of beep,
• 2:34
  Speaker 3: it is time to This is so lame, but it
• 2:38
  Speaker 3: is time for us to toot our own horn. Oh
• 2:40
  Speaker 3: my god, I was wondering how you would work it in.
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  Speaker 3: That's I try. Maybe I'll try harder next week.
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  Speaker 5: I love it.
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  Speaker 3: It is time for our five star review Beck. And
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  Speaker 3: if you're a longtime listener and you reckon that that
• 2:51
  Speaker 3: she's on the Money Show is a bit alright, Like
• 2:53
  Speaker 3: I reckon, it's time for you to leave us a
• 2:56
  Speaker 3: review because you know what it does. I actually don't know.
• 3:00
  Speaker 3: It's kind of like it makes our day. It does,
• 3:02
  Speaker 3: it makes our day. But I know that there's some
• 3:05
  Speaker 3: kind of podcast algorithm. Yes, and like if a podcast
• 3:08
  Speaker 3: has lots of good reviews, the algorithm goes, oh, that's
• 3:11
  Speaker 3: quite like a good thing. We should be pushing this
• 3:14
  Speaker 3: to more people who need to hear it. Yes, and
• 3:16
  Speaker 3: then that's good because I guess we make more friends,
• 3:20
  Speaker 3: make more friends. I love friends. That's so true. But literally,
• 3:24
  Speaker 3: like it helps us somehow through the algorithm you mostly,
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  Speaker 3: Beck helps our egos exactly, and that's arguably the most
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  Speaker 3: important thing. And we love to read our reviews, not
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  Speaker 3: the one star ones. We do read those. They do
• 3:36
  Speaker 3: definitely get the screenshot and shared in our group chats.
• 3:39
  Speaker 3: They hurt. Yeah, but sometimes you're like, babe, thanks for
• 3:44
  Speaker 3: the one star review that Victoria's voice is annoying. Oh
• 3:48
  Speaker 3: but I can't do anything about that, and like painful.
• 3:52
  Speaker 3: I don't know about you, Beck, but when I was
• 3:53
  Speaker 3: growing up, my mum always said that you should never
• 3:55
  Speaker 3: ever give somebody feedback about themselves that they can't change
• 3:59
  Speaker 3: within ten seconds. Yes, so like, I'm not going to
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  Speaker 3: talk to you about anything unless you're like, you've got
• 4:04
  Speaker 3: something in your teeth. Yeah, you could fix that immediately,
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  Speaker 3: for sure, that's quite helpful. For sure. Oh you've got
• 4:09
  Speaker 3: something on your face, Oh, let me help you.
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  Speaker 5: But also, as a listener of podcasts, I understand the
• 4:13
  Speaker 5: frustration of being like irritated by someone. But also if
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  Speaker 5: you're not forced to do it, then don't worry.
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  Speaker 3: Just like, don't do it.
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  Speaker 4: Yeah.
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  Speaker 3: Like, the craziest thing about this show is it is
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  Speaker 3: entirely consensual. Yeah, Like, you choose to be here, and
• 4:26
  Speaker 3: if you don't want to be here anymore, guess what, Beck,
• 4:29
  Speaker 3: Well you can opt out. Well that's crazy. Anyway. Anyway,
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  Speaker 3: would you like to hear a five star review from
• 4:36
  Speaker 3: a friend called Ruby? Yes? Please? Okay? Ruby says, I
• 4:41
  Speaker 3: just had to write to say a huge thank you.
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  Speaker 3: I've only just started listening to this podcast for the
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  Speaker 3: last two months, and I've learned so much about finance,
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  Speaker 3: and I've signed up to do all of your courses.
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  Speaker 3: I've redone my family's budget, and I've even emailed to
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  Speaker 3: see one of your mortgage brokers. But the biggest thing
• 4:56
  Speaker 3: I've taken from your podcast is after listening to the
• 4:59
  Speaker 3: episode about the Lady who loved to Tech, and then
• 5:02
  Speaker 3: the following podcast about jobs, I decided I no longer
• 5:06
  Speaker 3: wanted to just be my husband's occasional admin helper and
• 5:09
  Speaker 3: instead completely redid my own resume. I wrote a cover
• 5:13
  Speaker 3: letter just how Victoria said, and thought about my life
• 5:16
  Speaker 3: skills that I've gained as a mum of three. I've
• 5:19
  Speaker 3: already been asked to do three interviews in three completely
• 5:22
  Speaker 3: new industries. To me, I feel like your podcast has
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  Speaker 3: given me so much confidence and possibly even in New
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  Speaker 3: Korea with a seventy five thousand dollars earning potential that
• 5:32
  Speaker 3: will not only get our family to our dream home quicker,
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  Speaker 3: but into shares and all. Thank you so much. Oh
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  Speaker 3: my god, it's amazing. That's so cool. Literally, like and
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  Speaker 3: you know, I don't know this person at all, but no,
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  Speaker 3: but I love, Like I don't know you, but I love.
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  Speaker 5: I love honestly, this is that amazing, Like we genuinely
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  Speaker 5: it's so happy because you could have, you know, just
• 5:53
  Speaker 5: maybe not had your own things to fall back on
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  Speaker 5: just in case something went awry, and now you.
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  Speaker 3: Do and that's incredible. But also just I love that
• 6:02
  Speaker 3: you heard what I was trying to put out because
• 6:04
  Speaker 3: I didn't do a whole podcast on the fact that
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  Speaker 3: I think that people who have taken time out of
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  Speaker 3: the workforce to you know, look after kids or even
• 6:13
  Speaker 3: in caring roles, like I've got a friend at the
• 6:15
  Speaker 3: moment who's just exited the workforce to look after an
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  Speaker 3: aging grandparent, and I just I think that's so special.
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  Speaker 3: But as I said to her, like what skills are
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  Speaker 3: you gaining? How do we quantify this? Like, if you
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  Speaker 3: have three children, I'm sorry, you know what you're really
• 6:30
  Speaker 3: good at? Time management? Oh? Yeah, you know what you're
• 6:33
  Speaker 3: good at conflict resolution. Like there's just so many things
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  Speaker 3: that you can say. Look, if I can deal with
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  Speaker 3: three kids, I promise you I can deal with a
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  Speaker 3: nine to five for sure. Like, there is just so
• 6:45
  Speaker 3: much And I think that so many times we've fed
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  Speaker 3: this narrative that you're not good enough, you're not worthy enough,
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  Speaker 3: you've been out of the industry, Like, especially in roles
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  Speaker 3: where the industry is relatively fast moving, you're often pushed
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  Speaker 3: to the side really easily, like marketing for example, Like, oh, well,
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  Speaker 3: marketing's changed and since you've left, social media has taken off, etc. Etc.
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  Speaker 3: And you're just like, yeah, but I'm not an idiot.
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  Speaker 3: Do you really think that I haven't been watching social
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  Speaker 3: media in my downtime?
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  Speaker 4: Yeah?
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  Speaker 3: Like, girl, you have so many skills, just put them
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  Speaker 3: on paper. You absolutely can do it. That's amazing.
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  Speaker 4: I love it.
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  Speaker 3: I just I'm so excited that we're bringing you one
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  Speaker 3: step closer to like financial freedom. Yeah hell yeah, but
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  Speaker 3: also that confidence you're like I did this and then
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  Speaker 3: I did this, and then I did that, and like
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  Speaker 3: you don't even have to have any money yet and
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  Speaker 3: you feel better about yourself. Yeah, hell yeah, that's so
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  Speaker 3: so cool, all right, berck. Now, of course we need
• 7:38
  Speaker 3: to seguay away from that, because it is time for
• 7:41
  Speaker 3: the Question of the Week, that moment where we sift
• 7:44
  Speaker 3: through all of your non financial questions and pick the
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  Speaker 3: best one each week to ask each other. And this
• 7:50
  Speaker 3: one comes from a friend called Jamie, and Jamie asks,
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  Speaker 3: if you had a theme song play when you walked
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  Speaker 3: into a room, what would it be? Oh my god,
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  Speaker 3: I actually know this, do you? Because I just I
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  Speaker 3: felt it this song in it song from Eurhythmics. There
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  Speaker 3: must be an angel. I don't sorry, thank you so much.
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  Speaker 3: There must be an angel, as Beck walks in.
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  Speaker 5: Yeah, but it's and I know it sounds very like vain,
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  Speaker 5: but it's not. It's not directed inwood. It's like there
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  Speaker 5: must be an angel.
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  Speaker 3: Like it's like the world around.
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  Speaker 5: Me feels magical. Yeah, okay, I love something like that. Anyways,
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  Speaker 5: it and it doesn't make sense right now, but this no.
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  Speaker 3: But I will listen to it. I'm confused about what
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  Speaker 3: mine might be. It just reminds me of a time
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  Speaker 3: that happened this year when and I do apologize if
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  Speaker 3: you were at this event or you organize this event,
• 8:42
  Speaker 3: because I didn't love this part, but I loved being
• 8:44
  Speaker 3: at the event, so please don't cancel me. I was
• 8:47
  Speaker 3: doing a speaking event. There were hundreds of women in
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  Speaker 3: the room, right, really cool opportunity. I get up to
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  Speaker 3: walk on stage because they're like, uh, Victoria is the
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  Speaker 3: keynote speaker, Like cool, my time to shine and they
• 8:57
  Speaker 3: stop playing Katie Harry Raw Okay, was just like, oh,
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  Speaker 3: in this moment, I would rather die, like like.
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  Speaker 6: And you're gonna hear me, yeah, And I'm just like
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  Speaker 6: oh oh, and like that just felt like so stereotypical,
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  Speaker 6: Like it gives me, like I don't know, two thousand
• 9:22
  Speaker 6: and nine Girl Boss vibes of like oh it.
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  Speaker 3: Just okay, it's so not me. What about this girl
• 9:30
  Speaker 3: is some fire that's just as bad? That is horrific. Okay,
• 9:35
  Speaker 3: that is horrific. Like I feel like the song that
• 9:38
  Speaker 3: I'm thinking of is like I'm walking on Sunshine. Oh
• 9:41
  Speaker 3: that's called like something fun, like something fun, something like
• 9:45
  Speaker 3: you know about the vibes as opposed truly about me.
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  Speaker 3: As an individual. Oh yeah, yeah, yes, the raw thing
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  Speaker 3: girl I wanted to You have to embrace it and
• 9:55
  Speaker 3: be like yeah, yay woo, because you're not going to
• 9:57
  Speaker 3: bring the vibe down of your own keynote present. But
• 10:01
  Speaker 3: also you'd be like, hey, like, why was that my
• 10:04
  Speaker 3: sting song? You know, totally, that's so funny.
• 10:08
  Speaker 5: It's so funny that also in this way, to see
• 10:10
  Speaker 5: how people perceive you, Like, it'd be nice to know
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  Speaker 5: what other people think your theme song is, because yeah,
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  Speaker 5: and that in the Spotify.
• 10:15
  Speaker 3: Comments, we'll read that one this way exactly. What's the
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  Speaker 3: She's on the Money theme song specifically for each member
• 10:22
  Speaker 3: of the team.
• 10:22
  Speaker 5: Yeah, and then let us pick you as well. It's like,
• 10:25
  Speaker 5: what color are you? I feel like it really paints
• 10:27
  Speaker 5: a picture.
• 10:27
  Speaker 3: What color are you? I don't know color I am?
• 10:29
  Speaker 3: But I know what color you are? Oh yeah, what
• 10:32
  Speaker 3: color am I? You're like a regal purple and gold? What?
• 10:37
  Speaker 5: Yeah, you're quite regal and also classy and also like
• 10:42
  Speaker 5: I don't know how.
• 10:43
  Speaker 3: To explain it, but you're like mother, Oh yeah, I
• 10:46
  Speaker 3: appreciate you. You're green? Did you know that you were green?
• 10:51
  Speaker 3: What's gorgeous? I didn't know that, but that's that's beautiful,
• 10:54
  Speaker 3: like not because you're wearing green, but like earthy and
• 10:57
  Speaker 3: wholesome and like I don't know, like like the grass,
• 11:00
  Speaker 3: like you just want to like roll around in the grass,
• 11:02
  Speaker 3: like I don't know. Green is good. That's so sweet.
• 11:05
  Speaker 3: Things like green light, green light, bring like green flag
• 11:09
  Speaker 3: like all of that. Thank you for not picking red.
• 11:12
  Speaker 3: Oh my god, of course I appreciate it. I just
• 11:14
  Speaker 3: I feel like there are so many fun possibilities and
• 11:16
  Speaker 3: so many questions that we could dive into. But people
• 11:20
  Speaker 3: have mostly come here because they want to hear finance
• 11:22
  Speaker 3: topics and like dms and stuff, so maybe we should
• 11:25
  Speaker 3: get into that. So anyway, put your suggestions for our
• 11:29
  Speaker 3: color and our song into the Spotify comments section. But
• 11:32
  Speaker 3: we also want to hear what Jess is, Yes, we do.
• 11:35
  Speaker 3: What do you think Jess is yellow?
• 11:38
  Speaker 4: Oh?
• 11:38
  Speaker 3: Jess is yellow? For sure? You agree? Yes? And also
• 11:41
  Speaker 3: like a mauve pink? Oh yeah, like a really like
• 11:45
  Speaker 3: like soft purple okay, yeah, like lavender like softer. Oh
• 11:51
  Speaker 3: my god, it's so cute, isn't she cute? We are
• 11:53
  Speaker 3: on the same page here, Yeah, what's her song? Well?
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  Speaker 5: I don't want to go tailor swift because she's obsessed
• 11:58
  Speaker 5: with tailor swift. But something like that, something that's like upbeat,
• 12:01
  Speaker 5: like exactly like this Sunshine song. You know, Yeah, I
• 12:04
  Speaker 5: reckon she's walking on sunshine too.
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  Speaker 3: Yeah, I agree.
• 12:07
  Speaker 4: All right.
• 12:08
  Speaker 3: Moving on from that, let's get into this week's money
• 12:11
  Speaker 3: wins from our community. And I have picked them this week,
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  Speaker 3: so I hope they're as good as Jesses. Okay, right, Beck.
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  Speaker 3: First one, I love this because it just feels like
• 12:21
  Speaker 3: a very she is on the money money win. Grace says,
• 12:25
  Speaker 3: I hit fifty thousand dollars in my savings. Amazing. I
• 12:27
  Speaker 3: started it ten years ago and I've slowly been chipping
• 12:30
  Speaker 3: away at it and I've finally achieved it. Oh my god,
• 12:33
  Speaker 3: it's amazing. Isn't that phenomenal? Like literally so exciting. But
• 12:37
  Speaker 3: what a big feat I feel like after ten years. Yeah,
• 12:42
  Speaker 3: so many people give up and it's just anyway, I
• 12:46
  Speaker 3: love it. Another one, this is from Emily. Emily said,
• 12:49
  Speaker 3: I've needed a new fan for a wood heater for years,
• 12:51
  Speaker 3: and at three hundred dollars, we put up with it.
• 12:54
  Speaker 3: Just being wowed. My husband's dropped off our old dryer
• 12:57
  Speaker 3: at the metal recycling place to see the exact same
• 13:00
  Speaker 3: heater sitting there, so we pulled out the fan. One
• 13:03
  Speaker 3: man's trash really is another man's treasure. Hell yeah, how
• 13:07
  Speaker 3: good's that? That's so good?
• 13:08
  Speaker 4: Do you know?
• 13:09
  Speaker 3: I saw one of my girlfriend's post that she went
• 13:12
  Speaker 3: to the tip shop in Mornington the other day. Oh
• 13:14
  Speaker 3: my god, the tip shop. Did you know that there
• 13:16
  Speaker 3: were tip shops? I didn't know, but I didn't know
• 13:18
  Speaker 3: there was one in Mornington. Well the more you know,
• 13:21
  Speaker 3: I literally was shook because I didn't know that tips
• 13:23
  Speaker 3: had shops. And then she's showing all these things that
• 13:26
  Speaker 3: were for sale at the tip shop and I was like, sorry,
• 13:30
  Speaker 3: in my head, Beck, it's at the tip shop because
• 13:32
  Speaker 3: someone was about to throw it out?
• 13:34
  Speaker 6: Right?
• 13:35
  Speaker 3: What the hell? Why was there so much good stuff
• 13:38
  Speaker 3: about to go in the bin? What are you guys doing?
• 13:40
  Speaker 3: Why wasn't that donated? I know, it's so crazy. I mean,
• 13:43
  Speaker 3: see that hard rubbish. A lot of good things, but
• 13:46
  Speaker 3: hard rubbish. I fear like you put something out in
• 13:48
  Speaker 3: the hope that someone will grab it, like, I don't know,
• 13:51
  Speaker 3: I don't know.
• 13:51
  Speaker 6: I know.
• 13:52
  Speaker 3: Next one, Christina says, and I feel like this is
• 13:55
  Speaker 3: one that you won't resonate with because whenever you go
• 13:58
  Speaker 3: to the pub, Beck, you order a water, but she says,
• 14:01
  Speaker 3: I keep this wine lid and she's like, put a
• 14:03
  Speaker 3: picture of a wine lid up in my handbag on
• 14:05
  Speaker 3: the occasion that we just don't finish the bottle of
• 14:07
  Speaker 3: wine we've ordered at the pub or the club. Might
• 14:10
  Speaker 3: only be a glass, but it's better in my fridge
• 14:12
  Speaker 3: than wasted. And they always seem to take the tops. Yes,
• 14:16
  Speaker 3: so true. Okay, that's a diabolical that, like they just
• 14:19
  Speaker 3: take the lid away and the hope that like you
• 14:21
  Speaker 3: won't take it. Yeah, weird. We have a new commentor, Carson.
• 14:27
  Speaker 3: Carson says, I'm a first time commenter and I want
• 14:30
  Speaker 3: to share my money with shopped at Woolworth's this week.
• 14:32
  Speaker 3: It came to a total of three hundred dollars. Then
• 14:35
  Speaker 3: I scanned my partner's Everyday Rewards card and we got
• 14:38
  Speaker 3: a total of fifty dollars off between points, worker discount
• 14:42
  Speaker 3: and shopping savings. Wow, isn't that a good deal? Yeah,
• 14:45
  Speaker 3: that's great. Also, welcome to commenting. Welcome all right, another
• 14:49
  Speaker 3: one and I'm gonna leave this as my last one.
• 14:51
  Speaker 3: This one's from Rebecca and she says, Okay, guys, I've
• 14:54
  Speaker 3: been waiting for this. My skill Share free trial was
• 14:58
  Speaker 3: ending and I didn't want to pay for full price
• 15:00
  Speaker 3: for a subscription, so I emailed and asked if they
• 15:03
  Speaker 3: could extend my trial or offer a discount. I scored
• 15:07
  Speaker 3: fifty percent off for the year, and I saved a
• 15:09
  Speaker 3: total of seventy eight bucks. If you don't ask, my friends,
• 15:13
  Speaker 3: you don't get Oh incredible, isn't that so good? But
• 15:17
  Speaker 3: like very she's on the money. Coded. If you don't ask,
• 15:20
  Speaker 3: you don't get Like, what's the worst thing that can
• 15:22
  Speaker 3: happen if you ask?
• 15:23
  Speaker 4: Beck?
• 15:24
  Speaker 5: Honestly nothing? And then these people are going to see
• 15:26
  Speaker 5: you again. Like you don't have to worry about being
• 15:27
  Speaker 5: awkward or shy because.
• 15:29
  Speaker 3: Also they're just going to say no, and you just
• 15:31
  Speaker 3: be polite and go thanks so much, friend, exactly like, oh,
• 15:34
  Speaker 3: no worries, full stop. End of story. I'll go about
• 15:36
  Speaker 3: my day and cancel my free trial. That's it, exactly
• 15:40
  Speaker 3: all right, Beck, we are segueghing into your broke tips.
• 15:44
  Speaker 3: What have you got to share this week? Okay, so
• 15:46
  Speaker 3: first up, I have I know that I've mentioned this
• 15:48
  Speaker 3: name before. Isn't that crazy?
• 15:50
  Speaker 5: They have the exact same name enthusiastic Arugula, is it actually,
• 15:54
  Speaker 5: it actually is, but it's the anonymous one, and so
• 15:57
  Speaker 5: I I with the anonymous.
• 16:00
  Speaker 3: Steff guys, own your comments. I want to know who
• 16:02
  Speaker 3: you are because I'm really creepy. I only want to connect.
• 16:05
  Speaker 5: We want to connect, and so I am a little
• 16:07
  Speaker 5: bit more I'd say liberal when it comes to reading
• 16:08
  Speaker 5: out anonymous, but I.
• 16:09
  Speaker 3: Will try and tighten it up. So enthusiastic Arugula said,
• 16:15
  Speaker 3: I ordered my kids Guzman.
• 16:17
  Speaker 5: Egomez for dinner a couple of days ago. Down out
• 16:19
  Speaker 5: of the app and I checkout, it said to click
• 16:21
  Speaker 5: for a free breedo. Instead of a free breedo. It
• 16:24
  Speaker 5: took the cost off my cart. So what should have
• 16:27
  Speaker 5: cost fifty dollars fifty ended up costing me thirty cents.
• 16:30
  Speaker 3: The story money win.
• 16:32
  Speaker 5: I know, if you haven't already got the app, sign
• 16:34
  Speaker 5: up and take advantage of this offer, which I do
• 16:35
  Speaker 5: know because I do have the app.
• 16:37
  Speaker 3: It is really good.
• 16:38
  Speaker 5: I feel like there's constantly little offers like I'm always
• 16:41
  Speaker 5: either getting something free or something it's like cheap or
• 16:44
  Speaker 5: something like that.
• 16:44
  Speaker 3: That's me in the macas app. Yes, the macas app,
• 16:47
  Speaker 3: and I ty I have not dabbled in that yet.
• 16:49
  Speaker 3: But I need to stop talking about the Macas app though,
• 16:52
  Speaker 3: because Macis is a huge corporation that could be sponsoring this. Imagine,
• 16:56
  Speaker 3: I know, Macca's money Wins or something. Yeah, what the hell,
• 17:00
  Speaker 3: because you know what's a money win? The fact that
• 17:02
  Speaker 3: macas brought back the fifty cent cone. Oh my god,
• 17:06
  Speaker 3: did they bring that back? They brought that back? Well
• 17:08
  Speaker 3: it's about bloody time exactly. But also they're just girls,
• 17:11
  Speaker 3: like they know that in a cozy Livis situation, you
• 17:15
  Speaker 3: know what's going to light us up inside a fifty
• 17:17
  Speaker 3: cent cone? Exactly. We don't have that much money, you guys.
• 17:21
  Speaker 3: But also we deserve sweet treats. Yeah, we really do.
• 17:25
  Speaker 3: Now they're accessible again.
• 17:28
  Speaker 5: Okay, So this next one comes from Jen who says
• 17:31
  Speaker 5: if you insert your card instead of tapping your card,
• 17:34
  Speaker 5: then you kind of get rid of the additional fee.
• 17:37
  Speaker 5: And I did google it to see like, do you
• 17:39
  Speaker 5: get like a Karlie if you insert? And it was like, no,
• 17:42
  Speaker 5: you don't get like the additional card fee on top
• 17:44
  Speaker 5: of the card fee.
• 17:46
  Speaker 3: When you I had no idea that was a thing.
• 17:48
  Speaker 3: I know, is that crazy? I didn't know either. That's
• 17:50
  Speaker 3: diabolic hall. Actually, isn't it cheek That is cheeky and
• 17:54
  Speaker 3: sneaky and really rude.
• 17:56
  Speaker 5: It is, so don't tap anymore insert, go back to insert.
• 18:00
  Speaker 5: They could all seem like innuendos, and I promise they're not.
• 18:03
  Speaker 3: And then but this isn't the b n J show.
• 18:06
  Speaker 5: This is the BnB show exactly right, So a lot
• 18:10
  Speaker 5: more inclusive now, my one. And I know this sounds crazy,
• 18:15
  Speaker 5: and I was a little bit too shy to do
• 18:17
  Speaker 5: this because it's insane, but I measured the amount of
• 18:22
  Speaker 5: dribble that comes out of the petrol hose.
• 18:26
  Speaker 3: You measured her, I did.
• 18:27
  Speaker 5: I had to take a friendly because I was too
• 18:29
  Speaker 5: scared to go alone. I'm scared someone's gonna yell at me.
• 18:31
  Speaker 5: But I did measure it.
• 18:32
  Speaker 3: I was like, wow, well, I just got like a
• 18:35
  Speaker 3: little you know when you like, so I filled it
• 18:37
  Speaker 3: up and then I got like a little plastic like
• 18:40
  Speaker 3: a urine sample cup almost like yeah, exactly, like a
• 18:44
  Speaker 3: plastic cylinder and like, and then I pulled it out
• 18:46
  Speaker 3: and then just like let it dribble in there, and
• 18:48
  Speaker 3: I waited for a little while.
• 18:49
  Speaker 5: It was about fifty mill which is like who cares,
• 18:52
  Speaker 5: but what I'm saying is instead of pulling it straight out.
• 18:55
  Speaker 5: I know a lot of people do do this. They
• 18:56
  Speaker 5: give it a little shake and they wait, ah huh,
• 19:00
  Speaker 5: saying stay.
• 19:00
  Speaker 2: There for as long as you can before you're like, okay,
• 19:03
  Speaker 2: I've really got to get home with my life, right,
• 19:06
  Speaker 2: Say there for as long as you can, because that
• 19:08
  Speaker 2: small amount will add up over time you can.
• 19:11
  Speaker 3: Get a whole free tank. That's true. You were right.
• 19:14
  Speaker 3: That was full of innuendo. That was really like I
• 19:19
  Speaker 3: wasn't sure if I was in sex ed or if
• 19:21
  Speaker 3: I was talking about the bowser. You know. Anyway, that's
• 19:25
  Speaker 3: really good tip, Beck, and I am so glad that
• 19:28
  Speaker 3: you shared it. Thank you. Is that where we're ending
• 19:31
  Speaker 3: broke tips this week? Unfortunately, that's it. I'm really grateful.
• 19:35
  Speaker 3: I'm really grateful for those of you who want to
• 19:37
  Speaker 3: follow along to bes how to get pregnant guy. We'll
• 19:41
  Speaker 3: announce that in the second segment of this show. But
• 19:43
  Speaker 3: we're going to go to a really quick break and
• 19:45
  Speaker 3: on the flip side, we're going to dive straight into
• 19:48
  Speaker 3: our questions. My friends, welcome back. It is time for
• 19:55
  Speaker 3: our weekly dilemma, and this one might feel particularly relevant. Actually,
• 20:00
  Speaker 3: if you have a little bit of heex stet. Hi,
• 20:04
  Speaker 3: there have you got a money dilemma you just can't
• 20:06
  Speaker 3: solve that. She's on the Money Team is here to help.
• 20:09
  Speaker 3: Every week we tackle your dilemmas, both big and small,
• 20:12
  Speaker 3: to answer your most burning money, career and life questions.
• 20:16
  Speaker 3: To get involved, simply head to our website and leave
• 20:18
  Speaker 3: us a short voice recording and you might just find
• 20:20
  Speaker 3: yourself on the show. Now, let's take a listen to
• 20:23
  Speaker 3: this week's money dilemma.
• 20:27
  Speaker 4: Hi, She's on the Money Team. I have a question
• 20:31
  Speaker 4: about tax and hextet. I have a hex stet in
• 20:36
  Speaker 4: the forty thousand ish range, and obviously I've been paying
• 20:41
  Speaker 4: that back whilst I was working full time. I'm now
• 20:45
  Speaker 4: a mum of two and I work part time, so
• 20:48
  Speaker 4: my annual income I believe doesn't sit over the threshold
• 20:54
  Speaker 4: for repayments to the HEX. I do salary sacrifice at
• 20:59
  Speaker 4: work working part time. I think that I'm still putting
• 21:02
  Speaker 4: money towards my HEX debt, and then come tax time,
• 21:07
  Speaker 4: I just get it back in a nice little tax return.
• 21:10
  Speaker 4: But I've just had a thought and I'm wondering for
• 21:13
  Speaker 4: some advice on whether I should actually be taking that
• 21:17
  Speaker 4: tax return and still putting it towards my hex stet
• 21:21
  Speaker 4: at the moment where enjoying the large tax return that
• 21:24
  Speaker 4: I get. But then I guess I'm never really paying
• 21:27
  Speaker 4: off my hex step. So if I continue to work
• 21:30
  Speaker 4: part time for a really long time and never pay
• 21:32
  Speaker 4: off my hex stet, theoretically once we sort of, you know, retire,
• 21:37
  Speaker 4: I guess, and I still have a hex step, do
• 21:39
  Speaker 4: you then just have to pay it off in a
• 21:41
  Speaker 4: bulk amount or do you just continue to pay it
• 21:43
  Speaker 4: off even in retirement. Any advice on whether I should
• 21:46
  Speaker 4: just be paying it off now anyway would be great.
• 21:49
  Speaker 4: Thank you.
• 21:50
  Speaker 3: What are your thoughts on this? Back?
• 21:51
  Speaker 5: Honestly, up unto the last moment, I was thinking like,
• 21:54
  Speaker 5: oh my god, don't pay it off like it dies
• 21:56
  Speaker 5: with you, So.
• 21:56
  Speaker 3: Just like leave it sort of thing. That's kind of
• 21:59
  Speaker 3: how I feel. And obviously we can't give you advice
• 22:01
  Speaker 3: on what to do, but we can talk about how
• 22:03
  Speaker 3: we feel about it. Do you still have hextet? Oh?
• 22:07
  Speaker 5: Yeah, I still got hextet, And like it's more just annoying.
• 22:09
  Speaker 5: I don't actually know how much I'm paying on it.
• 22:11
  Speaker 5: I don't think it would be that much, maybe like
• 22:13
  Speaker 5: thirty bucks of paid cycle or something.
• 22:16
  Speaker 4: Yeah.
• 22:16
  Speaker 3: Yeah, like you have to pay the minimum. Yeah, And
• 22:18
  Speaker 3: so I'm like, oh, I'm not too worried. Honestly, it
• 22:20
  Speaker 3: does fee annoying. So I don't actually have a degree
• 22:22
  Speaker 3: true for it.
• 22:22
  Speaker 5: But I think that in this case, when you start
• 22:25
  Speaker 5: talking about the retirement thing, like once you start getting
• 22:27
  Speaker 5: your you know, super and things like that, do you
• 22:30
  Speaker 5: have to start paying it off or do you have
• 22:31
  Speaker 5: to pay it off? I don't know about that, but
• 22:33
  Speaker 5: otherwise I would just leave it because it really, in
• 22:37
  Speaker 5: my mind is kind of like inconsequential.
• 22:39
  Speaker 3: That's how I feel. So personally, I have not contributed
• 22:44
  Speaker 3: even a dollar more to my hex than I have
• 22:46
  Speaker 3: needed to. I've always paid the minimum and come tax
• 22:50
  Speaker 3: return time. Just because of the nature of my work
• 22:52
  Speaker 3: sometimes I have to pay a bit more and like
• 22:54
  Speaker 3: that's fine, but for me, it's not ever inhibited being
• 22:59
  Speaker 3: able to buy a property or save or invest. And
• 23:01
  Speaker 3: I look at that debt not as a bad debt,
• 23:04
  Speaker 3: not as a good debt. It's kind of like an
• 23:05
  Speaker 3: okay debt. She sits in the middle because it doesn't
• 23:08
  Speaker 3: accrue interest, but it does it crue like indexation, right,
• 23:12
  Speaker 3: Like it's indexed every year. So at the moment, because
• 23:15
  Speaker 3: indexation is much higher, I feel like we care a
• 23:18
  Speaker 3: lot more about it because you know, all of a sudden,
• 23:21
  Speaker 3: it's not like one or two percent, it's like four
• 23:24
  Speaker 3: and a half percent. You kind of go ill, ill, No,
• 23:26
  Speaker 3: I don't. I don't like that at all. Like maybe
• 23:28
  Speaker 3: I should be paying this off, but I would probably
• 23:32
  Speaker 3: choose in your situation, to zoom out and look at
• 23:34
  Speaker 3: the bigger picture and go, well, what do I actually
• 23:38
  Speaker 3: want to achieve? Like what is this money going towards?
• 23:41
  Speaker 3: Like if I was to pay that off, what am
• 23:44
  Speaker 3: I compromising in the rest of my life? Because like,
• 23:47
  Speaker 3: some people just don't want debt. And I totally understand
• 23:50
  Speaker 3: that because for a very long time I was really
• 23:53
  Speaker 3: stressed about my hex debt and what it would mean
• 23:55
  Speaker 3: until I became super financially literate and I was like, oh, hey,
• 23:59
  Speaker 3: I actually like if I have a dollar and I
• 24:02
  Speaker 3: want it to work for me, I'm going to be
• 24:04
  Speaker 3: presented with a number of different options. I could put
• 24:06
  Speaker 3: it in a savings account for a certain amount back,
• 24:08
  Speaker 3: I could you know, put it into clothes or shoes,
• 24:11
  Speaker 3: and like that makes me feel good, but I'm not
• 24:13
  Speaker 3: getting that much back from that, I could put it
• 24:15
  Speaker 3: into my hextet, or I could invest it. And I
• 24:18
  Speaker 3: look at all these options and go, well, what's most
• 24:21
  Speaker 3: important to me? And honestly, to me, loading up my
• 24:25
  Speaker 3: share portfolio is much more important. And at the moment,
• 24:29
  Speaker 3: I'm also feeling a little bit stressed personally just about
• 24:32
  Speaker 3: our mortgage, not because we can't pay it. We're okay,
• 24:35
  Speaker 3: but like I just see it creeping up and I
• 24:37
  Speaker 3: can see how much interest to we're paying on it.
• 24:39
  Speaker 3: So for me, I just don't want to be paying that.
• 24:43
  Speaker 3: So would I make more money back inside my investment portfolio, yes,
• 24:48
  Speaker 3: but just because I'm stressy about it. Like we've arranged
• 24:52
  Speaker 3: our budget a little bit differently recently to pay off
• 24:54
  Speaker 3: a bit more of our mortgage because it just makes
• 24:56
  Speaker 3: me feel better about myself, and I think that's a
• 24:59
  Speaker 3: good lesson in and just because something makes you the
• 25:02
  Speaker 3: most money doesn't mean it is the right decision for you.
• 25:04
  Speaker 3: You also kind of have to overlay your hopes, are
• 25:06
  Speaker 3: your dreams, and your wishes, but also just how you
• 25:08
  Speaker 3: feel about certain things in your life. So if your
• 25:11
  Speaker 3: hex debt is really stressing you out, even though on
• 25:15
  Speaker 3: paper you look at it and go, well, it will
• 25:16
  Speaker 3: die with me, no worries, like you're not going to
• 25:20
  Speaker 3: have to pay that back unless you earn over a
• 25:22
  Speaker 3: certain amount, and yes that is true in retirement. But
• 25:26
  Speaker 3: if you're earning over a certain amount in retirement when
• 25:28
  Speaker 3: you're not working, money, win because it means you're arguably
• 25:32
  Speaker 3: self sufficient. Yeah. So I don't mind if you're still
• 25:35
  Speaker 3: chipping away at that debt at that point. But I
• 25:37
  Speaker 3: really doubt that that debt is still going to be
• 25:40
  Speaker 3: there given the projections. But for me, it's just not
• 25:44
  Speaker 3: a priority. But I totally understand that people have different
• 25:48
  Speaker 3: emotional priorities and if you want to chip it away
• 25:51
  Speaker 3: at it, pop off, queen. But if you want a
• 25:53
  Speaker 3: better solution, you could sit down and work out what
• 25:56
  Speaker 3: might work best for you. For sure, I completely agree
• 25:59
  Speaker 3: with that. Yes, no stresses, all right. The debt dilemmas
• 26:03
  Speaker 3: are a plentiful This week and every week we select
• 26:07
  Speaker 3: a little pickle from our dms from our community members,
• 26:11
  Speaker 3: and this dilemma is unfortunately much more common than you think. Meck,
• 26:15
  Speaker 3: I've got one. Would you like me to read it out?
• 26:17
  Speaker 4: Please?
• 26:18
  Speaker 3: All right, Hi, queens, please help. A few years ago,
• 26:22
  Speaker 3: after a relationship breakdown, I found myself with around twenty
• 26:25
  Speaker 3: thousand dollars of credit card debt. I ended up taking
• 26:28
  Speaker 3: out a personal loan so that I could consolidate everything,
• 26:31
  Speaker 3: and I promised myself that I would never ever end
• 26:33
  Speaker 3: up in that position again. Fast forward a few years,
• 26:36
  Speaker 3: and while I've been making my loan repayments, I've somehow
• 26:39
  Speaker 3: managed to build up another eight thousand dollars on my
• 26:42
  Speaker 3: credit card due to rising living costs and a few
• 26:45
  Speaker 3: unexpected expenses. I'm not missing payments, but I feel like
• 26:49
  Speaker 3: I'm constantly juggling debt rather than actually getting ahead. Do
• 26:53
  Speaker 3: I focus on paying off the credit card first, or
• 26:56
  Speaker 3: do I throw everything at my personal loan? Or is
• 26:58
  Speaker 3: there another strategy I should be considering. I'm feeling pretty overwhelmed,
• 27:02
  Speaker 3: and honestly, I'm a bit ashamed that I found myself
• 27:04
  Speaker 3: back here.
• 27:05
  Speaker 5: I know this feeling all too well, like I found
• 27:09
  Speaker 5: myself here just moments ago when I quit my job,
• 27:13
  Speaker 5: you know, just on a whim, and then just also.
• 27:15
  Speaker 3: Like yeah, lokay, that was diabolical, silly, And then also
• 27:18
  Speaker 3: just like from me, I was just like mac queen,
• 27:20
  Speaker 3: I get it, I get it, But money also important.
• 27:24
  Speaker 5: I know, silly, but I was also like, oh, it's
• 27:26
  Speaker 5: gonna work out, and then sometimes it doesn't, but that's okay.
• 27:28
  Speaker 5: But also just having like just the anxiety of you know,
• 27:31
  Speaker 5: getting yourself into dead or like not being able to
• 27:34
  Speaker 5: pay for things. And I know this is not the
• 27:36
  Speaker 5: same story as our listener who wrote in, but there's
• 27:40
  Speaker 5: a feeling of like anxiety and a feeling of stress
• 27:44
  Speaker 5: and a feeling of like, oh my god, I'm so broke.
• 27:46
  Speaker 5: And I think that like what I told myself in
• 27:49
  Speaker 5: this moment was I can feel anxious or I can
• 27:53
  Speaker 5: feel anxious and also ashamed. It's like there's no point
• 27:56
  Speaker 5: being ashamed. I don't want to be ashamed, and I
• 27:58
  Speaker 5: don't want to put that shame on myself. It's so
• 28:00
  Speaker 5: easy to feel shame because we can see people around
• 28:02
  Speaker 5: us like really, I guess like getting this shit together
• 28:06
  Speaker 5: or they've got their shit together and they don't have
• 28:08
  Speaker 5: these saying they can't relate to these struggles. And also
• 28:11
  Speaker 5: the words use when people are like, oh, I'm so broke,
• 28:13
  Speaker 5: I've got to have to dip into my savings and
• 28:14
  Speaker 5: you're like, I don't have many savings.
• 28:16
  Speaker 3: That makes me feel so much wa When I say broke,
• 28:18
  Speaker 3: I mean like broken, like there is nothing bad back.
• 28:22
  Speaker 5: On exactly, there's no family, there's no savings, Like you
• 28:25
  Speaker 5: have family and friends of course, but like it's a
• 28:27
  Speaker 5: different comfort of your parents who might have heaps of money,
• 28:30
  Speaker 5: you'd be like, oh yeah, just borrow whatever. And so
• 28:32
  Speaker 5: like this feeling, I think that our listener just first
• 28:35
  Speaker 5: of all, should just like remove shame, because no matter
• 28:39
  Speaker 5: like even if you're brought up in a different way,
• 28:40
  Speaker 5: like our brain's all wired differently, the way we view money,
• 28:43
  Speaker 5: the way we are in situations that we're in, Like
• 28:45
  Speaker 5: we're all wired differently, and you are here because of
• 28:48
  Speaker 5: the way you are, and there's nothing wrong with the
• 28:50
  Speaker 5: way you are. And money is a man made, human
• 28:53
  Speaker 5: made concept, so it's not like this inherent thing in us.
• 28:56
  Speaker 5: It's like there's something broken inside me. It's like, no,
• 28:59
  Speaker 5: you don't know how to juggle something that is completely unnatural,
• 29:04
  Speaker 5: a human made thing, and that's so fine. So I
• 29:07
  Speaker 5: think that like just remove the shame from it all.
• 29:10
  Speaker 5: In terms of what I would do, I don't think
• 29:15
  Speaker 5: I would be the best person to ask, because I
• 29:17
  Speaker 5: also am always in the same situation. But I reckon
• 29:22
  Speaker 5: tackling one at a time, whichever one has the least interest,
• 29:27
  Speaker 5: I would tackle last.
• 29:29
  Speaker 3: Does that make sense?
• 29:29
  Speaker 5: Yeah, Like if your credit card has less interest, then yeah,
• 29:33
  Speaker 5: your personal loan, then tackle the personal loan first, or
• 29:36
  Speaker 5: both would be ideal.
• 29:38
  Speaker 3: So Okay, I'm gonna tell her exactly what I told
• 29:41
  Speaker 3: you last week, and that's we, you and I. We're
• 29:43
  Speaker 3: going to sit down and we're finally going to do
• 29:46
  Speaker 3: a budget, and your bloody going to stick to it, yes, ma'am,
• 29:48
  Speaker 3: because it's something that I think we all are so
• 29:52
  Speaker 3: avoidant of, and I get it because you're just like, well, V,
• 29:54
  Speaker 3: I'm not good at money, or V I just I
• 29:57
  Speaker 3: don't want to do that because I don't want to
• 29:58
  Speaker 3: change my lifestyle, or you might find it really confronting
• 30:02
  Speaker 3: because it sucks, Like you know, you and I are
• 30:04
  Speaker 3: sitting down together, and this is going to be more
• 30:06
  Speaker 3: personal than what this person's going to get. But I
• 30:08
  Speaker 3: do this in my money masterclass. There is a free
• 30:12
  Speaker 3: budget on our website, like those resources are a plenty,
• 30:15
  Speaker 3: Like we have so many like playlists of getting out
• 30:18
  Speaker 3: of debt, Like I'm about to bring out a get
• 30:20
  Speaker 3: out of Debt free course, like I'm so excited about it,
• 30:24
  Speaker 3: and by the way, that course will be free. There's
• 30:26
  Speaker 3: no way I'm going to charge people to get them
• 30:28
  Speaker 3: out of debt, Like Queen, I will charge you and
• 30:31
  Speaker 3: sell you a course when we're talking about wealth creation
• 30:33
  Speaker 3: and getting ahead and picking the right shares and how
• 30:36
  Speaker 3: to do that. I feel like that is fair game.
• 30:38
  Speaker 3: But I would think I don't know from me that
• 30:41
  Speaker 3: that is predatory. If you're like girl, I am spiraling,
• 30:44
  Speaker 3: I need to get out of debt, and then I
• 30:46
  Speaker 3: charged you for a course, vile not happening, So that
• 30:49
  Speaker 3: course will be free. But I know you're not missing payments,
• 30:53
  Speaker 3: but we need to get the structure right because you're
• 30:55
  Speaker 3: not spiraling, but you're also not thriving. And I think
• 30:59
  Speaker 3: so many times we're just so avoidant of this idea
• 31:02
  Speaker 3: of sitting down and doing our budget because it's bloody confronting,
• 31:06
  Speaker 3: Like you don't want to sit down and be told
• 31:08
  Speaker 3: by somebody else like don't spend this, or do spend this,
• 31:11
  Speaker 3: or hey, Beck, you've only got this amount to spend
• 31:14
  Speaker 3: per week and if you're done, you're done. That feels restrictive,
• 31:18
  Speaker 3: but it's actually the most freeing thing in the entire world.
• 31:21
  Speaker 3: Like just knowing that nobody's going to come knocking on
• 31:24
  Speaker 3: your door asking for a debt repayment. You know that
• 31:28
  Speaker 3: next week you're always going to have money. That's a
• 31:30
  Speaker 3: crazy concept, like just the idea that if beck I
• 31:34
  Speaker 3: structured your budget and it gave you some food, fuel
• 31:37
  Speaker 3: and fun money, which is what I call it in
• 31:39
  Speaker 3: my course, I gave you that money. I said, but
• 31:41
  Speaker 3: this is the way you've got this week. Do you
• 31:42
  Speaker 3: know what you're really good at? You are actually already
• 31:45
  Speaker 3: good at making money stretch, thank you. You are so
• 31:48
  Speaker 3: good at it that that has been your survival mechanism
• 31:52
  Speaker 3: for the longest time, Right, So what if I structured
• 31:55
  Speaker 3: everything else and then said, beck, all you have to
• 31:57
  Speaker 3: worry about this week is one hundred and fifty dollars
• 31:59
  Speaker 3: or twohundred dollars, everything else catered for, don't touch it.
• 32:02
  Speaker 3: But if you run out of this money, rice and beans, yeah,
• 32:05
  Speaker 3: nothing else until next Thursday. And you go, okay, I
• 32:09
  Speaker 3: can do that, Like we can all do that because
• 32:12
  Speaker 3: everything else is being fed in the background, everything else
• 32:16
  Speaker 3: is being paid off, and then automatically you get your
• 32:19
  Speaker 3: two hundred dollars again, and we start from scratch, like
• 32:22
  Speaker 3: we don't have to make this overwhelming. It doesn't have
• 32:25
  Speaker 3: to be something that feels like trash. But what you're
• 32:29
  Speaker 3: going to do is go back to the drawing board.
• 32:31
  Speaker 3: I need you to be really confrontational with yourself. You're
• 32:34
  Speaker 3: going to print off three months of your credit card statement.
• 32:38
  Speaker 3: You're going to print off three months of your bank's statements.
• 32:41
  Speaker 3: You're going to get probably a really nice glass of
• 32:43
  Speaker 3: wine or a cup of tea. I don't care, Beck,
• 32:46
  Speaker 3: you're probably gonna ask me for a soda water. But
• 32:49
  Speaker 3: we want to sit down for a good hour, like
• 32:53
  Speaker 3: we're not talking like, oh, just quickly flip through it,
• 32:56
  Speaker 3: like this is a tusk, this is a job. I
• 32:58
  Speaker 3: need you to commit to this. You're going to get
• 32:59
  Speaker 3: two colored highlighters and we're going to go through and
• 33:02
  Speaker 3: with one colored highlighter. We're not judging ourselves by the way.
• 33:05
  Speaker 3: We're just highlighting all the things that we can't change.
• 33:09
  Speaker 3: So you know, maybe in a green we're highlighting you know,
• 33:13
  Speaker 3: our rent, our you know, grocery bill, because like at
• 33:16
  Speaker 3: the end of the day, we have to spend money
• 33:17
  Speaker 3: on groceries. Like it's debatable as to how flexible that is,
• 33:21
  Speaker 3: but like we can talk about that later. You know
• 33:23
  Speaker 3: your gas bill, your electric you know your my key,
• 33:26
  Speaker 3: your public transport, you know fuel stuff that we can't
• 33:29
  Speaker 3: really change. Then with another color, we're going to go
• 33:32
  Speaker 3: through and highlight the things that you know, we didn't
• 33:35
  Speaker 3: have to spend money on, but we did. We're not
• 33:37
  Speaker 3: judging ourselves. This isn't a list of like, oh my god, Beck,
• 33:40
  Speaker 3: this is all the stuff you shouldn't have done. But
• 33:42
  Speaker 3: you know what that is going to do. It's going
• 33:44
  Speaker 3: to give you a color contrast. And I'm a visual learner.
• 33:47
  Speaker 3: I'm going to quickly see like, oh, half of the
• 33:50
  Speaker 3: transactions that I make are actually transactions I didn't have
• 33:53
  Speaker 3: to make. Or you might find you've done your whole
• 33:56
  Speaker 3: budget and you're like the like everything is actually like
• 33:59
  Speaker 3: setting stone. I can't change this, at which point we're
• 34:02
  Speaker 3: going to give ourselves a little bit more grace.
• 34:05
  Speaker 4: Yeah.
• 34:05
  Speaker 3: But also, what if we go through this and like
• 34:08
  Speaker 3: I'm not attacking you personally, but what if we go
• 34:11
  Speaker 3: through this and it's like pub pub vape pub or
• 34:14
  Speaker 3: but do you know what I mean, like it's dining out,
• 34:17
  Speaker 3: it's stuff that you could change. I'm not saying don't
• 34:19
  Speaker 3: do it. We just want to be aware of it.
• 34:22
  Speaker 3: And then we're going to go, Becky, you comfortable with that?
• 34:24
  Speaker 3: And you might go yeah, like I really like my lifestyle,
• 34:28
  Speaker 3: and I go great, but at what cost? Like what
• 34:31
  Speaker 3: could we change? Like, oh, look at this, let's quickly
• 34:34
  Speaker 3: have a look at one of those line items. Oh
• 34:36
  Speaker 3: you spent twenty five bucks here, and you go, yeah,
• 34:38
  Speaker 3: I probably didn't need to do that, like I was
• 34:40
  Speaker 3: just doing it. Yeah, oh great, Well look what we
• 34:44
  Speaker 3: could free up if just one time per month we
• 34:47
  Speaker 3: didn't do one thing. Yeah, could you do that? And
• 34:49
  Speaker 3: you're going to go yeah, but I'd have to be
• 34:51
  Speaker 3: more conscious of it. Okay, we could do that. What
• 34:54
  Speaker 3: if we put a system in place to make you
• 34:56
  Speaker 3: super conscious? You go yeah, okay. I don't want you
• 34:59
  Speaker 3: to change your lifestyle. I don't want beck to not
• 35:01
  Speaker 3: be beck. I want everybody to have financial freedom and
• 35:04
  Speaker 3: feel like they are completely in control. And it turns
• 35:08
  Speaker 3: out I've got the key to that golden ticket. So
• 35:10
  Speaker 3: let me do that for sure. But what we're going
• 35:12
  Speaker 3: to do is lay everything out on the table. We're
• 35:14
  Speaker 3: going to do our little like review. It sucks. I
• 35:17
  Speaker 3: know nobody likes being confronted with their own spending, but
• 35:22
  Speaker 3: then we're going to look at what we need. Right.
• 35:24
  Speaker 3: So you said that you're not missing payments, money win,
• 35:28
  Speaker 3: but you're not getting ahead. So you've said, should I
• 35:31
  Speaker 3: be throwing everything at my personal loan? Well, I actually
• 35:35
  Speaker 3: want you to step back for a hot second, and
• 35:38
  Speaker 3: do you have an emergency fund? Right? Because even though
• 35:41
  Speaker 3: you're in debt, I still think that people should have
• 35:44
  Speaker 3: an emergency fund in debt because, Beck, what happens if
• 35:48
  Speaker 3: you're in debt and you're throwing every single dollar towards
• 35:50
  Speaker 3: that debt and then another emergency expense comes up. Yeah,
• 35:54
  Speaker 3: what do you do? You're just stuck in the cycle
• 35:56
  Speaker 3: of debt exactly. And what narrative do you tell yourself?
• 36:00
  Speaker 3: You tell yourself your shit at money? Yeah, you tell
• 36:03
  Speaker 3: yourself that you're not capable. You tell yourself that, oh
• 36:07
  Speaker 3: far out this popped up and I wasn't ready for it. Yeah,
• 36:10
  Speaker 3: because every single dollar you were throwing at your debt, like,
• 36:12
  Speaker 3: we weren't planning for the future. We were just treading water. Yeah,
• 36:16
  Speaker 3: that's not a good place to be. That's exhausting. So
• 36:19
  Speaker 3: what we're going to do is we're going to build
• 36:21
  Speaker 3: up an emergency fund. We're going to try and work out,
• 36:24
  Speaker 3: even if it's ten dollars a week, what can we
• 36:26
  Speaker 3: put aside so that if something in the future pops up,
• 36:30
  Speaker 3: we could pay for it. And you know what that does,
• 36:32
  Speaker 3: It helps break the cycle. It changes your mindset because
• 36:36
  Speaker 3: when that rego pops up that you went ready for,
• 36:39
  Speaker 3: or when that you know, electricity bill comes in and
• 36:41
  Speaker 3: it turns out you and your housemates have been using
• 36:43
  Speaker 3: the heater a lot more than you thought you were
• 36:45
  Speaker 3: going to and you need an extra fifty bucks. Babe,
• 36:48
  Speaker 3: that's not debt anymore. That came from cash. That feels good.
• 36:53
  Speaker 3: And then we build back up our emergency fund. We're
• 36:55
  Speaker 3: still paying off our debt for sure, but we have
• 36:58
  Speaker 3: an emergency fund we can lean on to break the
• 37:00
  Speaker 3: cycle so we don't fall back into it. And you've
• 37:02
  Speaker 3: said in your DM I fell back into it like
• 37:05
  Speaker 3: life got expensive, And I'm not saying that it's not.
• 37:08
  Speaker 3: It is. We need to be super conscious of these things,
• 37:11
  Speaker 3: but we also need to make sure that we're getting
• 37:14
  Speaker 3: ahead instead of just trading water. Because if we're just
• 37:16
  Speaker 3: treading water and doing what we're always doing and wishing
• 37:18
  Speaker 3: for a different outcome, like wishes unfortunately don't come true.
• 37:23
  Speaker 3: Wishes need to be action. So what we should be
• 37:26
  Speaker 3: doing is getting our little emergency fund up. Then we're
• 37:30
  Speaker 3: going to look at your credit card, and we're going
• 37:31
  Speaker 3: to look at your personal loan and back to what
• 37:33
  Speaker 3: you were saying, which has the lowest debt immediately last
• 37:36
  Speaker 3: priority or are we going to reconsolidate. That's something that
• 37:41
  Speaker 3: a lot of people lean on, but it's a bit
• 37:43
  Speaker 3: of a catch twenty two because you reconsolidate, take the
• 37:45
  Speaker 3: pressure off yourself, and then we fall further into debt
• 37:48
  Speaker 3: because we didn't do anything else about our budget. Because
• 37:51
  Speaker 3: now we're back to the idea of I just have
• 37:53
  Speaker 3: a personal loan and I'm not feeling the pressure of
• 37:56
  Speaker 3: being out of control. I don't want you to be
• 37:59
  Speaker 3: out of control. If we are going to reconsolidate, we
• 38:01
  Speaker 3: need to make a plan to get out of debt again,
• 38:04
  Speaker 3: and then we're going to talk about our goals. So
• 38:06
  Speaker 3: many of us are not setting goals because we're in debt.
• 38:09
  Speaker 3: And like, if I see people who are in debt,
• 38:12
  Speaker 3: down and what are your goals or do you want
• 38:13
  Speaker 3: to achieve? They go, oh, nothing, don't worry about it.
• 38:16
  Speaker 3: It doesn't matter like, oh, I'll do that when I
• 38:19
  Speaker 3: have more money. I'll do that when I camel. Yeah,
• 38:22
  Speaker 3: you're still allowed to dream, like You're still allowed to
• 38:25
  Speaker 3: have aspirations and things we want to achieve, like goal,
• 38:28
  Speaker 3: you want to go to Thailand. I want you to
• 38:30
  Speaker 3: go to Thailand. But here are the things that we
• 38:33
  Speaker 3: have to achieve to get there. Do you know how
• 38:35
  Speaker 3: much sweeter Thailand feels if we achieved all of those things.
• 38:38
  Speaker 3: We need to get out of debt, and then the
• 38:40
  Speaker 3: money that we've been paying off debt with holy crap, Beck,
• 38:44
  Speaker 3: we can reallocate that the amount of money that you're
• 38:46
  Speaker 3: paying off debt is actually the amount of money that
• 38:48
  Speaker 3: you're completely capable of saving each month without changing your lifestyle.
• 38:53
  Speaker 3: We just have to get rid of the debt. Yeah,
• 38:55
  Speaker 3: So for me, I would be saying, I get it.
• 38:59
  Speaker 3: It is overwhelming, It is all consuming. And you know what,
• 39:01
  Speaker 3: as somebody who got themselves into forty thousand dollars worth
• 39:04
  Speaker 3: of consumer debt, I was not just ashamed. I lied.
• 39:09
  Speaker 3: I would lie to people. They'd be like, oh haha,
• 39:12
  Speaker 3: I would never have a credit card, and I'd be
• 39:14
  Speaker 3: like neither, I know, why are we like this life
• 39:20
  Speaker 3: and money gets out of control, and that is fine,
• 39:23
  Speaker 3: but we can take back control with a little system,
• 39:26
  Speaker 3: and mine's free. It's on the website. Go download the budget,
• 39:29
  Speaker 3: Go listen to our get out of Debt playlists, and
• 39:32
  Speaker 3: put yourself in the driver's seat again. Because you're not
• 39:36
  Speaker 3: not capable like Beck. It's something that we've just never
• 39:40
  Speaker 3: been taught totally, Like where did you learn about money?
• 39:44
  Speaker 3: Not the place you learn about trigonometry.
• 39:46
  Speaker 5: No, we's worn with this. I'm like, oh, I don't
• 39:48
  Speaker 5: know how to develop empathy. It's like, well, you know,
• 39:51
  Speaker 5: money's not in us, like from birth.
• 39:53
  Speaker 3: Something you do have to be. It's external. You do
• 39:55
  Speaker 3: have to be taught about it. And if you're not,
• 39:57
  Speaker 3: then you should not be ashamed. It's diabolical that we're
• 39:59
  Speaker 3: not taught how to live in the society that we created.
• 40:03
  Speaker 3: But I was talking to one of my friends. At school,
• 40:06
  Speaker 3: we had home ch class and I remember learning how
• 40:09
  Speaker 3: to make coconut jam drops. Yeah I could do that
• 40:13
  Speaker 3: back of my hand again because I learned in home
• 40:16
  Speaker 3: economics class in grade eight. Yeah, yeah, totally. Where was
• 40:19
  Speaker 3: the budget and so where was the money management? I
• 40:22
  Speaker 3: know it's boring. I know it's not getting to take
• 40:24
  Speaker 3: jam drops home and eat them during class. Money win
• 40:27
  Speaker 3: or life win? But like, do you know how much
• 40:31
  Speaker 3: more powerful I would have been if I left school
• 40:33
  Speaker 3: knowing how to budget, or what a credit card actually was,
• 40:36
  Speaker 3: or what superannuation could do for me? Totally, I had
• 40:39
  Speaker 3: no idea. No, I just ticked random boxes on my
• 40:42
  Speaker 3: super fun form because I was like, Ah, that one
• 40:44
  Speaker 3: in brackets says most popular. I'm a pick that, yeah,
• 40:47
  Speaker 3: for sure. What did the community have to say?
• 40:49
  Speaker 6: So?
• 40:50
  Speaker 3: First things First, I asked the community, have you accumulated
• 40:53
  Speaker 3: debt due to circumstances outside of your control, for example,
• 40:56
  Speaker 3: like illness or separation or job loss. Thirty eight percent
• 40:59
  Speaker 3: of you said yes, I'm glad it's not more, but
• 41:02
  Speaker 3: also that's a big chunk of our community. The next
• 41:05
  Speaker 3: question I asked was do you feel debt is one
• 41:07
  Speaker 3: of the biggest barriers to achieving your financial goals? Seventy
• 41:10
  Speaker 3: percent of you said yes for sure. Then I asked,
• 41:13
  Speaker 3: if you were in this situation, would you focus on
• 41:16
  Speaker 3: paying off the credit card or your personal loan? First?
• 41:20
  Speaker 3: Eighty six percent of you said credit card okay, and
• 41:23
  Speaker 3: I get that because it's probably the highest interest rate. Yeah,
• 41:26
  Speaker 3: and to be honest, that's where I would be going
• 41:28
  Speaker 3: as well, because like we just the higher the interest rate,
• 41:31
  Speaker 3: the more money you're going to pay towards it, like
• 41:33
  Speaker 3: get out of debt sooner. And then we asked for
• 41:36
  Speaker 3: your two cents. And this one, I feel like was
• 41:38
  Speaker 3: really special because so many of the responses were like,
• 41:42
  Speaker 3: oh my god, me too, Oh my god, I'm so stressed,
• 41:46
  Speaker 3: Oh my gosh. I haven't spoken to my friends about this,
• 41:49
  Speaker 3: Like yeah, diabolical, because I just I don't want my
• 41:53
  Speaker 3: community to be feeling this totally. But also just girl,
• 41:56
  Speaker 3: you're not alone turns out or just doing it, just
• 42:00
  Speaker 3: not talking about.
• 42:01
  Speaker 5: It exactly, and that's where the shame comes from. And
• 42:03
  Speaker 5: seeing like no one else is like me. It's like
• 42:04
  Speaker 5: everyone can relate to this feeling.
• 42:06
  Speaker 3: Yeah, and even if they're not in that situation right now,
• 42:10
  Speaker 3: Like you know, if you saw me on the street,
• 42:12
  Speaker 3: you might go, ah, she looks like a nice girl.
• 42:15
  Speaker 3: She's probably not in any debt. I'm struggling. I wonder
• 42:19
  Speaker 3: if i'd ask her a question. Obviously you know me
• 42:21
  Speaker 3: as she's on the money, so you know my story,
• 42:22
  Speaker 3: but like you don't know a thing about me, Like
• 42:25
  Speaker 3: if you're just passing me on the street. You don't
• 42:27
  Speaker 3: know my history, you might make some really grand assumptions.
• 42:30
  Speaker 3: So she's got a nice T shirt on, Like, oh,
• 42:33
  Speaker 3: she wouldn't be experiencing what I've experienced. Girl, I got
• 42:36
  Speaker 3: myself into forty thousand dollars worth of crippling debt. The
• 42:39
  Speaker 3: only way I got to where I am today is
• 42:41
  Speaker 3: because I went through that experience. Like, if we don't
• 42:45
  Speaker 3: talk about it, we can't help people. Totally, we can't
• 42:48
  Speaker 3: help ourselves. If I didn't start talking about it, she's
• 42:52
  Speaker 3: on the money, wouldn't exist. True, that's pretty big. Yeah,
• 42:56
  Speaker 3: that's to me sick. But also it's pretty good incentive
• 42:59
  Speaker 3: to not get back into debt again. He's like, low key,
• 43:03
  Speaker 3: that would be embarrassing. No, but I also am in
• 43:06
  Speaker 3: a lot of debt because I've got a home loan,
• 43:08
  Speaker 3: so like that's different. Sure. We also had a lot
• 43:12
  Speaker 3: of people saying, pay off the credit card first, and
• 43:14
  Speaker 3: then counsel it. Talk about consolidation. Another person said, why
• 43:19
  Speaker 3: not look into some financial counseling. It could help because
• 43:22
  Speaker 3: you're obviously feeling a lot of shame and these people
• 43:24
  Speaker 3: are really really approachable. Another person said, and this is
• 43:28
  Speaker 3: the most diabolical one. Okay, I feel like that's my
• 43:33
  Speaker 3: word of the week. Diabolical. Yeah, I like that word. Yeah,
• 43:36
  Speaker 3: it just feels really impactful. I agree, we're not going
• 43:39
  Speaker 3: to do this. By the way, this terrible suggestion. They said,
• 43:42
  Speaker 3: listen to Dave Ramsey. Who in the world is that. Oh,
• 43:46
  Speaker 3: I'm glad he is. I would say he's the barefoot
• 43:51
  Speaker 3: investor to the Americans. Oh, he is like the biggest
• 43:55
  Speaker 3: finance guru. He also doesn't believe in gay rights. Also
• 44:00
  Speaker 3: has been quoted to say, if you are in debt,
• 44:04
  Speaker 3: you should not see the inside of a restaurant. He
• 44:07
  Speaker 3: has been sued. He has been sued because he has
• 44:12
  Speaker 3: like enforced his Christian beliefs on his staff. Okay, this
• 44:17
  Speaker 3: man is horrific.
• 44:18
  Speaker 5: I'm shocked by people who can't understand that their experience
• 44:22
  Speaker 5: is not everyone's experience.
• 44:24
  Speaker 3: But also to say that's somebody in debt, like and
• 44:28
  Speaker 3: he's very like heavy on the shame, like they're like,
• 44:31
  Speaker 3: if you're in debt, you're like, you're an idiot, Like
• 44:34
  Speaker 3: I can't believe you get yourself in this situation. He
• 44:36
  Speaker 3: has a whole bloody talk show. It's horrific. Like I
• 44:39
  Speaker 3: can't stand it because every single time I like look
• 44:43
  Speaker 3: at one of his videos and read the comments, I'm
• 44:45
  Speaker 3: just like, why can't people see that this man is
• 44:48
  Speaker 3: shaming other people for things that were arguably beyond their control.
• 44:53
  Speaker 5: I want to assume that there's no aspects of his
• 44:56
  Speaker 5: identity that make it harder to find a job or
• 44:58
  Speaker 5: and I.
• 44:59
  Speaker 3: Don't want to you know, No, he's a mediocre, middle
• 45:00
  Speaker 3: aged white man. Well, this is what I'm thinking, is
• 45:03
  Speaker 3: like the whitest of white. Yeah.
• 45:05
  Speaker 5: So he has a very like, you know, very nice,
• 45:07
  Speaker 5: normal life, and he's giving people advice based on his experience.
• 45:12
  Speaker 3: And I'm like, that's dangerous. Yeah. But also the idea
• 45:15
  Speaker 3: that if you're in debt you shouldn't see the inside
• 45:17
  Speaker 3: of a restaurant, that's crazy. That's diabolical, diabolical. So, just
• 45:22
  Speaker 3: so you know, we're not listening to Dave Ramsey, good idea.
• 45:25
  Speaker 3: Don't shut it, Dave, Yeah, don't do that anyway. Lots
• 45:29
  Speaker 3: of people back on track were very productive, though they
• 45:32
  Speaker 3: said high interest rates, first, pay off the smallest step. First,
• 45:35
  Speaker 3: have a look at the snowball versus the avalanche method.
• 45:39
  Speaker 3: A lot of people say, just cancel the credit card,
• 45:41
  Speaker 3: and then pay it off. And then someone else said,
• 45:44
  Speaker 3: and I'm going to leave it here. Hey, I don't
• 45:46
  Speaker 3: have any advice, but I just want to share some
• 45:49
  Speaker 3: empathy for her situation. I hope she feels better about
• 45:51
  Speaker 3: it soon.
• 45:52
  Speaker 4: Thank you.
• 45:53
  Speaker 3: Yes, it's exactly what we need. That's exactly what we need.
• 45:56
  Speaker 3: Like nobody should feel shame. Do feel shame anyway, misspec
• 46:01
  Speaker 3: say ed Yes, it's been a pleasure chatting with you.
• 46:03
  Speaker 3: Or I feel like I went on a rant at you. Hey,
• 46:05
  Speaker 3: that's okay? Is that okay? I'm sorry. I just am
• 46:08
  Speaker 3: really passionate about debt, of course, and I think it's
• 46:11
  Speaker 3: all it's all very useful information. So thank you anyway.
• 46:14
  Speaker 3: Thank you again for sharing the Friday Drinks couch with me,
• 46:16
  Speaker 3: and I guess for everybody listening being part of our community.
• 46:20
  Speaker 3: We'll be back next week early Monday morning for a
• 46:22
  Speaker 3: money diary, and until then, please take care, look after
• 46:25
  Speaker 3: your friends, and have a great weekend. Bye guys. The
• 46:32
  Speaker 3: advice shared on She's on the Money is general in
• 46:35
  Speaker 3: nature and does not consider your individual circumstances. She's on
• 46:39
  Speaker 3: the Money exists purely for educational purposes and should not
• 46:42
  Speaker 3: be relied upon to make an investment or financial decision.
• 46:46
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• 46:48
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• 46:56
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• 47:00
  Speaker 3: three two one six four nine two seven seven zero
• 47:03
  Speaker 3: eight a F s L four five one two eight
• 47:06
  Speaker 3: nine