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A little bit of HELP on that HECS · She's On The Money

• 0:00
  Speaker 1: She's on the Money.
• 0:02
  Speaker 2: She's on the Money.
• 0:20
  Speaker 1: Hello, and welcome to She's on the Money, the podcast
• 0:22
  Speaker 1: for millennials who want financial freedom. My name is Annabel Lee.
• 0:26
  Speaker 1: I'm a law student and a millennial, and I desperately
• 0:28
  Speaker 1: want to get better at everything to do with money.
• 0:31
  Speaker 1: To do that, I'm stealing the brains with money experts
• 0:33
  Speaker 1: and my friend Victoria Design. Welcome Victoria.
• 0:37
  Speaker 3: Hi.
• 0:38
  Speaker 1: So what a week. We've had many people closing down
• 0:41
  Speaker 1: their after pay accounts because of last week's episode. How
• 0:43
  Speaker 1: exciting did a lot of people get in contact with
• 0:46
  Speaker 1: you about closing their after payccounts?
• 0:47
  Speaker 3: They absolutely did.
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  Speaker 4: I had so many messages on Instagram and Facebook of
• 0:52
  Speaker 4: people who maybe weren't posting in the group saying, hey, Victoria,
• 0:55
  Speaker 4: I've realized that after pays maybe not being used in
• 0:58
  Speaker 4: the way it should be. And I've closed my after
• 1:00
  Speaker 4: pay account or zip pay account or whatever fast money
• 1:03
  Speaker 4: account they have, And I'm so proud of them all.
• 1:06
  Speaker 3: Again. I don't think it's the worst thing in the
• 1:08
  Speaker 3: world to have.
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  Speaker 4: After pay, but if people are identifying that they're not
• 1:11
  Speaker 4: using it effectively, like, it's fantastic to hear that they
• 1:14
  Speaker 4: are owning that and taking that away from themselves.
• 1:17
  Speaker 1: What a proud mom moment.
• 1:18
  Speaker 3: I feel like such a proud mum. I'm too young
• 1:20
  Speaker 3: to be their moms, but I would love to be.
• 1:23
  Speaker 1: Why does that make me like a cool auntie?
• 1:25
  Speaker 3: I just got a really cool sister.
• 1:27
  Speaker 1: Anyway, Victoria. Today, let's talk about all things hextet. So
• 1:31
  Speaker 1: many young people are either accruing a hextet now or
• 1:34
  Speaker 1: paying off theirs as they work. So why don't we
• 1:37
  Speaker 1: talk about university in the context of it costing you
• 1:39
  Speaker 1: a whole bunch of money? But before we dig into that,
• 1:42
  Speaker 1: as always, let's get things rolling by sharing a money
• 1:44
  Speaker 1: win or a money confession from the week after you,
• 1:47
  Speaker 1: my darling.
• 1:48
  Speaker 4: So for the past week I have been in lockdown
• 1:52
  Speaker 4: after end of financial year, and I have a bit
• 1:54
  Speaker 4: of a money confession for you. This week I ordered
• 1:59
  Speaker 4: ubery three.
• 2:00
  Speaker 3: Times in three days. And it's not something I'm that
• 2:04
  Speaker 3: proud of.
• 2:05
  Speaker 1: And what will be ordering?
• 2:06
  Speaker 3: We're ordering pasta from Etto.
• 2:08
  Speaker 1: Oh that's fancy. Am I supposed to know what Etto is?
• 2:11
  Speaker 4: It's just this little pasta bar close to my work,
• 2:14
  Speaker 4: close enough I should be walking, honestly, but.
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  Speaker 1: No, there's no time. You're a financial advisor. We've got
• 2:19
  Speaker 1: bills to I don't know, taxes to do.
• 2:21
  Speaker 3: Yeah, something like that.
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  Speaker 4: I cannot justify the amount of pastor I've consumed in
• 2:25
  Speaker 4: the last three days, or the Uberts bills I've accrued.
• 2:29
  Speaker 1: That's okay, I forgive you.
• 2:31
  Speaker 3: Have you got something to make up for my foes.
• 2:33
  Speaker 1: I've got a money win. I didn't earn this money
• 2:35
  Speaker 1: win at all. But it has something to do with
• 2:38
  Speaker 1: a free weekend getaway.
• 2:40
  Speaker 3: Oh I know.
• 2:41
  Speaker 1: Have you heard of cozy tents? By any chance? I
• 2:43
  Speaker 1: haven't not sponsored by the way, it is this kind
• 2:46
  Speaker 1: of glamping holiday thing where you go to I think
• 2:49
  Speaker 1: it's in Dale'sford and it's this really fancy tent. They
• 2:51
  Speaker 1: bring you like a breakfast box in the morning.
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  Speaker 3: I'm so fancy.
• 2:54
  Speaker 4: One of my girlfriends has one of those companies called
• 2:57
  Speaker 4: Into the Woods.
• 2:57
  Speaker 3: Oh yeah, it's gorgeous.
• 2:59
  Speaker 1: Well it's I think it's supposed to be for couples,
• 3:01
  Speaker 1: but I'm single, so I'm bringing my sister, my best
• 3:05
  Speaker 1: friend Ella. She got gifted this for her birthday by
• 3:09
  Speaker 1: her brothers, but she a is in Europe right now,
• 3:12
  Speaker 1: so it's going to expire and b she broke up
• 3:14
  Speaker 1: with her long term boyfriend, so she decided to give
• 3:16
  Speaker 1: it to me.
• 3:17
  Speaker 3: Oh that's so sweet.
• 3:18
  Speaker 1: It's sad, but also you know winning.
• 3:20
  Speaker 3: I don't feel sorry for her. She's in Europe though, I.
• 3:23
  Speaker 1: Know, and she's having the best time. We miss you all.
• 3:25
  Speaker 4: Would you like to be in attend in Dylesford or
• 3:27
  Speaker 4: in Europe right now?
• 3:28
  Speaker 1: And I'm not sure she's in cold as well, So yeah,
• 3:31
  Speaker 1: she definitely wins out of all of us. And you're
• 3:33
  Speaker 1: going this weekend next weekend. I sister has a busy schedule.
• 3:36
  Speaker 1: I've got a yes slotter in Okay, moving on, let's
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  Speaker 1: get into the show. The number of Australians going to
• 3:41
  Speaker 1: UNI has steadily increased over the last decade. On top
• 3:45
  Speaker 1: of that, women have out numbered men in university since
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  Speaker 1: nineteen eighty seven, and now they do so buy a
• 3:50
  Speaker 1: hefty margin. Yes, girls, While that sounds like a fist
• 3:53
  Speaker 1: pump moment, there's something we forget to think about when
• 3:56
  Speaker 1: it comes to UNI.
• 3:57
  Speaker 2: The debt.
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  Speaker 1: Now I have a huge hex debt. I think I'm
• 4:00
  Speaker 1: studying a double degree, but because I don't have to
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  Speaker 1: pay for it now, I haven't considered the position that
• 4:05
  Speaker 1: I'm putting myself in potentially down the track. Do you
• 4:07
  Speaker 1: think our attitude towards university and hexdet largely ties into
• 4:11
  Speaker 1: our attitude towards things like after pay.
• 4:13
  Speaker 4: I think in a way it does, and not in
• 4:15
  Speaker 4: the same way that we would categorize after pay more
• 4:18
  Speaker 4: in the let's just think about it later kind of way,
• 4:21
  Speaker 4: not in a I know that this is an immediate debt.
• 4:24
  Speaker 4: How does this impact my future cash flow? What does
• 4:26
  Speaker 4: that look like? How much will I be paying back?
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  Speaker 4: And when will I be paying it back?
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  Speaker 1: So the average HEX debt is actually on the rise.
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  Speaker 1: It currently stands at twenty thousand dollars, up five thousand
• 4:36
  Speaker 1: dollars from twenty fourteen. So experts say that HEX and
• 4:39
  Speaker 1: help debt is at an all time high for two reasons. One,
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  Speaker 1: we're expected to complete additional postgraduate studies to be qualified
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  Speaker 1: for our jobs in our field, and two, wage growth
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  Speaker 1: has flattened, increasing the number of people who aren't making
• 4:52
  Speaker 1: repayments and therefore or watching their debts increase. Do you
• 4:55
  Speaker 1: think our generation has been, for lack of a better word,
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  Speaker 1: totally royally screwed up.
• 5:01
  Speaker 3: Absolutely not.
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  Speaker 4: I think it's really important to realize that we are
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  Speaker 4: incredibly lucky.
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  Speaker 3: To have access to help debt.
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  Speaker 4: So, just to quickly define it, it used to be
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  Speaker 4: called HEX and now it's called HELP, which is the
• 5:12
  Speaker 4: higher education loan program because it is a loan that
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  Speaker 4: you guys need to be paying back.
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  Speaker 3: So I think we're.
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  Speaker 4: Really lucky to live in a country where we have
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  Speaker 4: access to a higher education loan scheme that allows us
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  Speaker 4: to study and defer payments of something that is really
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  Speaker 4: valuable to us. So we know research says that a
• 5:30
  Speaker 4: millennial who has a university degree will earn eight hundred
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  Speaker 4: thousand dollars more than someone who does not have a
• 5:37
  Speaker 4: university degree. And for me, that is a massive impact
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  Speaker 4: that a university degree can.
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  Speaker 3: Have on you.
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  Speaker 4: And for a hex stet of twenty thousand dollars, is
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  Speaker 4: that worth you getting into that race?
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  Speaker 1: What's interesting to me is that two point nine million
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  Speaker 1: ossies currently have outstanding help debt, the highest in our
• 5:55
  Speaker 1: country's history, and more than two hundred thousand Australians currently
• 5:58
  Speaker 1: have an outstanding balance of more than fifty thousand dollars.
• 6:02
  Speaker 1: WHOA is that at all concerning to you?
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  Speaker 3: It isn't? It isn't.
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  Speaker 4: I think it's really special that we're in a country.
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  Speaker 4: Where as much as we are more in help debt
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  Speaker 4: than we've ever been, it means that we're.
• 6:12
  Speaker 3: More educated than we've ever been before.
• 6:15
  Speaker 4: You mentioned that more women are in universities than ever before,
• 6:18
  Speaker 4: and there was a period of time where women weren't
• 6:21
  Speaker 4: in universities at all. So I think we really need
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  Speaker 4: to celebrate the progress that we are making and work
• 6:26
  Speaker 4: out what that actually means. So, unlike a loan for
• 6:29
  Speaker 4: a car or a house, help debt doesn't actually attract
• 6:31
  Speaker 4: any interest at all. So in other words, you're not
• 6:34
  Speaker 4: paying the government for the privilege of borrowing the money.
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  Speaker 4: You're only ever paying what's called indexation. This is such
• 6:40
  Speaker 4: a good thing because indexation is not interest, and interest
• 6:45
  Speaker 4: would be they were charging you for the privilege of
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  Speaker 4: borrowing the money, whereas indexation is actually just the amount
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  Speaker 4: that the debt is going to increase each year to
• 6:53
  Speaker 4: be in line with the cost of living. So last
• 6:56
  Speaker 4: year that was one point eight percent and this year
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  Speaker 4: it is one point nine.
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  Speaker 1: Right, So I guess those stats are also fine if
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  Speaker 1: the debt is being used to fund careers that we
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  Speaker 1: actually want. But studies show one in three university students
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  Speaker 1: regret their choice of degree. Do you see this as common.
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  Speaker 4: I think it is really common for people to jump
• 7:14
  Speaker 4: straight into university from high school. And I don't think
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  Speaker 4: it's uncommon for people to be in a position where
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  Speaker 4: they've jumped from having a you know, a really structured
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  Speaker 4: environment and then worrying about not having that structure, so
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  Speaker 4: jump straight into a degree to kind of maintain that.
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  Speaker 4: Or they feel like their friends are doing a degree,
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  Speaker 4: I may as well do the same degree.
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  Speaker 3: I'll just follow in their footsteps. But I think.
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  Speaker 4: Picking a degree is such a big topic, and if
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  Speaker 4: you are not ready to pick a degree that you're
• 7:42
  Speaker 4: super passionate about or you know you want to do,
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  Speaker 4: potentially it's worth having a little bit more of a
• 7:47
  Speaker 4: think about that and taking some more time.
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  Speaker 3: Yeah, take a gap year, take some time.
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  Speaker 4: University will be there for you in twelve months, in
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  Speaker 4: eighteen months, in two years, in five years. You don't
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  Speaker 4: have to jump straight into a degree. You can go
• 7:58
  Speaker 4: out and work, or you could go to Europe for
• 8:01
  Speaker 4: a gap year, or travel or do whatever helps inspire
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  Speaker 4: you and helps you work out where you want to go.
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  Speaker 1: So do you think millennials and Gen zetters would benefit
• 8:10
  Speaker 1: from a mindset shift?
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  Speaker 3: I think so.
• 8:13
  Speaker 4: I think it's really important to also remember that as
• 8:16
  Speaker 4: much as help debt to me is an okay debt
• 8:18
  Speaker 4: to hold, it is still a debt, and jumping headfirst
• 8:22
  Speaker 4: into that is not a great idea if you're not
• 8:25
  Speaker 4: one hundred percent committed to the outcome. So say you
• 8:28
  Speaker 4: go do a marketing degree and then realize you don't
• 8:31
  Speaker 4: want to do marketing. You've just spent thirty five thousand
• 8:34
  Speaker 4: dollars on something that isn't contributing to you earning money
• 8:37
  Speaker 4: because it's not a space you want to be working in.
• 8:40
  Speaker 1: So studies show that degrees in nursing, health services, education, law, business,
• 8:45
  Speaker 1: and psychology they all have a high satisfaction rate from graduates,
• 8:48
  Speaker 1: while more than half of all graduates from social sciences, humanities, culture,
• 8:52
  Speaker 1: and the arts felt to their degree weren't actually relevant
• 8:55
  Speaker 1: to their jobs. Do you think we need maybe job
• 8:57
  Speaker 1: recruiters in the cultural fields to reconsider the need for
• 9:00
  Speaker 1: that piece of paper.
• 9:02
  Speaker 3: I think it's an interesting question.
• 9:05
  Speaker 4: I think what we need here is actually career counselors.
• 9:08
  Speaker 4: So people go into degrees knowing what the outcomes are
• 9:12
  Speaker 4: going to be. It's one thing to go into social
• 9:14
  Speaker 4: work because you want to be a social worker, but
• 9:16
  Speaker 4: those units are often not made up of things that
• 9:20
  Speaker 4: are directly related to having hands on experience. It's a
• 9:23
  Speaker 4: lot about philosophy and you know, psychology and things that
• 9:27
  Speaker 4: potentially you didn't expect to get into when you said
• 9:30
  Speaker 4: I want to be a social worker. So I think
• 9:32
  Speaker 4: if you are considering going to university and you're not
• 9:35
  Speaker 4: entirely sure what degree you should be going straight into
• 9:38
  Speaker 4: going and seeing a career counselor is going to help
• 9:41
  Speaker 4: you get that clarity, but also work out what are
• 9:43
  Speaker 4: the outcomes of this degree, what does that look like,
• 9:46
  Speaker 4: How tangible and applicable are these things to what I'm
• 9:49
  Speaker 4: working towards.
• 9:50
  Speaker 1: It's also, I think important to note that there are
• 9:53
  Speaker 1: transferable skills in like arts degrees as well. I don't
• 9:55
  Speaker 1: want to put anyone off studying us for risk. I'm
• 9:58
  Speaker 1: studying one, so I think. But even if you are
• 10:01
  Speaker 1: studying a broader degree it is it can be useful
• 10:03
  Speaker 1: for the workforce.
• 10:05
  Speaker 4: So I started my university career, you could say, in
• 10:08
  Speaker 4: an arts degree, and after six months transferred to psychology.
• 10:11
  Speaker 4: So I was that kid who didn't really know one
• 10:13
  Speaker 4: hundred percent what she wanted to do and didn't want
• 10:16
  Speaker 4: to miss out. So all of my friends were going
• 10:18
  Speaker 4: to university, and I wanted to go to the same
• 10:20
  Speaker 4: university they were going to, and so that's where I
• 10:23
  Speaker 4: ended up. I am very lucky in that I did
• 10:26
  Speaker 4: speak to a career as counselor at the university early
• 10:28
  Speaker 4: on and worked out that potentially an arts degree wasn't
• 10:31
  Speaker 4: going to help me achieve the goals I wanted to achieve,
• 10:34
  Speaker 4: and psychology was something I.
• 10:35
  Speaker 3: Was more passionate about.
• 10:37
  Speaker 4: So I did end up finishing that degree in psych
• 10:40
  Speaker 4: and graduated with a Bachelor of Psychological Science, and I
• 10:43
  Speaker 4: don't regret that at all. But it's also, as you
• 10:46
  Speaker 4: guys can see, not where I currently work. So I
• 10:48
  Speaker 4: think it's really interesting that I have had such a
• 10:52
  Speaker 4: varied experience. But I also think that everything I learned
• 10:55
  Speaker 4: in that degree is now being applied to what I
• 10:57
  Speaker 4: do now. And as much as people say, oh, it
• 11:01
  Speaker 4: was a waste of money to do that marketing degree
• 11:03
  Speaker 4: or that psychology degree, I think that a lot of
• 11:06
  Speaker 4: the skills, as you were saying, Annabel, are really transferable,
• 11:08
  Speaker 4: and if you are able to work out what those
• 11:11
  Speaker 4: transferrable skills look like, especially if you're close to the
• 11:15
  Speaker 4: end of a degree that you are maybe feeling like
• 11:17
  Speaker 4: you don't want to finish, sometimes it's better to just
• 11:20
  Speaker 4: finish that degree, have a think about how you could
• 11:22
  Speaker 4: apply those skills in your new chosen career, and move
• 11:26
  Speaker 4: forward from there. So as much as I'm saying don't
• 11:29
  Speaker 4: get into debt for the sake of it, I also
• 11:31
  Speaker 4: would hate to think that someone is getting thirty thousand
• 11:33
  Speaker 4: dollars into HEXT debt and exits a university degree without
• 11:39
  Speaker 4: spending that last five thousand to get the final part
• 11:42
  Speaker 4: of the degree. At least you're walking away with something
• 11:44
  Speaker 4: instead of, you know, just a debt that isn't applicable
• 11:47
  Speaker 4: to a lot.
• 11:48
  Speaker 1: It's a huge accomplishment anyway. Moving on from that to
• 11:51
  Speaker 1: the more practical stuff, I guess, how can we actually
• 11:53
  Speaker 1: improve our understanding of education and debt? So where can
• 11:56
  Speaker 1: we find out what our current hexdet balance actually is?
• 11:59
  Speaker 4: So the MYGAV website is actually really helpful for finding
• 12:02
  Speaker 4: out what your hex debt is. You can sign in,
• 12:04
  Speaker 4: you can see what you've paid off it, you can
• 12:06
  Speaker 4: see what is owed. You can make voluntary contributions through
• 12:09
  Speaker 4: that website. It's also the same website you can see
• 12:11
  Speaker 4: your tax information and Medicare details through.
• 12:14
  Speaker 1: So, Victoria, you've mentioned you've got a hefty hex debt,
• 12:17
  Speaker 1: still you have to pay off. How do you How
• 12:19
  Speaker 1: do you approach it? Though? Do you make extra voluntary
• 12:21
  Speaker 1: repayments on top of what comes out of your pay
• 12:23
  Speaker 1: every month?
• 12:24
  Speaker 4: I don't, So this is something I get asked a
• 12:27
  Speaker 4: lot because it's such a tension point. Nobody likes being
• 12:30
  Speaker 4: in debt. No one wants to feel like they owe
• 12:33
  Speaker 4: anybody anything, and so getting rid of hex debt to
• 12:37
  Speaker 4: a lot of people is a priority to me. It's not, though.
• 12:40
  Speaker 4: My help debt sits in the background, and I know
• 12:43
  Speaker 4: that if it is going to tick off over time,
• 12:45
  Speaker 4: so I am absolutely okay with the fact that it
• 12:48
  Speaker 4: will be subject to indexation, and I know that it's
• 12:51
  Speaker 4: going to go up slightly each year. But I also
• 12:53
  Speaker 4: know that with my income, I will be paying off
• 12:56
  Speaker 4: more than what indexation is each year. So we're getting
• 12:59
  Speaker 4: there and it is going to not be an issue
• 13:02
  Speaker 4: for me in the future. But I think I think
• 13:04
  Speaker 4: it's a really interesting point that people ask me, Victoria,
• 13:06
  Speaker 4: do you pay additional repayments off your hextet? If not,
• 13:09
  Speaker 4: why not, so I don't voluntarily pay off my hextet
• 13:13
  Speaker 4: Because I look at debt in three different ways.
• 13:16
  Speaker 3: You've got good debt, So good debt.
• 13:17
  Speaker 4: Is where you have borrowed money for investments like property
• 13:20
  Speaker 4: or shares, and these things.
• 13:22
  Speaker 3: You expect to grow over time.
• 13:24
  Speaker 4: You've got okay debts, so this is debt like a
• 13:26
  Speaker 4: hex debt that you don't want to have forever, but
• 13:28
  Speaker 4: it's an appreciating asset. So mortgages and student loans and
• 13:33
  Speaker 4: your help debt go into this basket because as much
• 13:36
  Speaker 4: as we want to pay them off, we also aren't
• 13:39
  Speaker 4: pressed for time. We are living in a country where
• 13:41
  Speaker 4: there is actually no time limit on the amount of
• 13:44
  Speaker 4: time it takes you to pay off your hex debt.
• 13:46
  Speaker 4: And if we are in a position where indexation is
• 13:50
  Speaker 4: at one point nine percent per year, but the average
• 13:53
  Speaker 4: return of the share market each year is about seven percent,
• 13:58
  Speaker 4: I know where I'd prefer to put my money.
• 14:00
  Speaker 1: So many numbers, but I'm getting it.
• 14:01
  Speaker 4: I think I'm getting it, Yeah, slowly, but surely. And
• 14:04
  Speaker 4: then of course we've got bad debt. And bad debt
• 14:06
  Speaker 4: are things like personal loans and cars and holidays and
• 14:10
  Speaker 4: things that you're putting on a credit card that you
• 14:12
  Speaker 4: can't afford out of your weekly cash flow, that are
• 14:15
  Speaker 4: not appreciating assets, and they typically carry higher interest rates
• 14:19
  Speaker 4: that aren't helping you grow your future wealth. So Hex
• 14:23
  Speaker 4: and help debt to me go in that it's an
• 14:25
  Speaker 4: okay debt to have because to me, my money and
• 14:29
  Speaker 4: my weekly income is better spent on things like shares
• 14:32
  Speaker 4: and appreciating assets.
• 14:33
  Speaker 1: Right, So, as long as it's not bad, we're good.
• 14:36
  Speaker 3: We are.
• 14:39
  Speaker 4: Hi.
• 14:39
  Speaker 1: There, you've called the shoes on the money Hotline. Do
• 14:42
  Speaker 1: you have a money problem you want help solving. Do
• 14:44
  Speaker 1: you have a money dilemma you just want to chat about?
• 14:46
  Speaker 1: Victoria is here to help. Each week we'll be playing
• 14:49
  Speaker 1: your hotline questions to help make sense of the money
• 14:51
  Speaker 1: mess you may have found yourself in. Give us a
• 14:53
  Speaker 1: call on O four three five two nine three double
• 14:56
  Speaker 1: eighty six and you might find yourself on the show.
• 14:59
  Speaker 1: But for now, here's the whole bunch of you who
• 15:00
  Speaker 1: have some problems with UNI debt and Centrelink overpayments.
• 15:12
  Speaker 5: Hi, guys, I am twenty four and I am currently
• 15:18
  Speaker 5: in one hundred and seventy thousand dollars worth of Hex's
• 15:20
  Speaker 5: debt due to doing two degrees. Now I know that
• 15:24
  Speaker 5: the government has done some sort of legislation that means
• 15:28
  Speaker 5: we have to pay more tax or more HEX. So
• 15:32
  Speaker 5: if someone could explain that to me, that'd be great.
• 15:35
  Speaker 5: Thanks Space.
• 15:37
  Speaker 1: So Victoria, is that right? What do you reckon?
• 15:39
  Speaker 4: So the government has passed the thresholds at which you
• 15:43
  Speaker 4: have to start paying back HEX or help debt. So
• 15:46
  Speaker 4: this is not saying we have to pay back more
• 15:49
  Speaker 4: than ever before. It just means that they've changed the
• 15:52
  Speaker 4: amount that you earn per year as a minimum requirement.
• 15:56
  Speaker 4: So in the twenty eighteen twenty nineteen tax yeah, if
• 15:59
  Speaker 4: you were earning more than fifty one thousand, nine hundred
• 16:02
  Speaker 4: and fifty seven dollars, you had to start paying your
• 16:05
  Speaker 4: help debt back and you had to pay back two
• 16:08
  Speaker 4: percent of your help debt. So the change that she's
• 16:13
  Speaker 4: talking about is the upcoming change for the next financial year,
• 16:16
  Speaker 4: and that's the twenty nineteen twenty twenty year, and the
• 16:19
  Speaker 4: threshold is actually going to change to forty five thousand,
• 16:22
  Speaker 4: eight hundred and eighty one dollars, So they've brought it
• 16:25
  Speaker 4: down pretty significantly, which means if you were in a
• 16:27
  Speaker 4: position where you were earning fifty thousand dollars. Last year,
• 16:31
  Speaker 4: you weren't having to pay back your HEX debt, so
• 16:33
  Speaker 4: whereas this year you now have to start paying that
• 16:36
  Speaker 4: debt back, but you were only going to have to
• 16:38
  Speaker 4: do that at one percent as opposed to the two
• 16:41
  Speaker 4: which you would have had to pay last year at
• 16:43
  Speaker 4: fifty one thousand.
• 16:44
  Speaker 1: Okay, so it's not a complete loss.
• 16:45
  Speaker 3: I guess it's not a loss.
• 16:47
  Speaker 4: What it means is the government has dropped the threshold,
• 16:50
  Speaker 4: so essentially people who are earning lesson now having to
• 16:52
  Speaker 4: start paying back their HEX debt or their help debt
• 16:55
  Speaker 4: as opposed to before where you had to be over
• 16:58
  Speaker 4: the fifty one thousand dollars threshold.
• 17:00
  Speaker 1: All right, and rolling into our second question for the day.
• 17:08
  Speaker 5: Hi guys, my name is Davey. I've up the podcast.
• 17:10
  Speaker 5: A bit of background on myself. I live that at
• 17:12
  Speaker 5: home with my brother and I'm studying full time doing
• 17:14
  Speaker 5: my honors at UNI, have part time job on a weekend.
• 17:17
  Speaker 5: But I'm also receiving the independent cent link youth allowed
• 17:21
  Speaker 5: for the last few years through a combination of factors,
• 17:26
  Speaker 5: and I've ended up with four thousand dollars debt to
• 17:28
  Speaker 5: Censelink and I also had enough to clear the tax threshold,
• 17:33
  Speaker 5: so my current strategy for paying it off is a
• 17:35
  Speaker 5: deduction from my payment whilst I pay ten cent tax automatically.
• 17:39
  Speaker 5: I've managed to get down to about two thousand, six
• 17:41
  Speaker 5: hundred dollars, but at the end of the year I
• 17:43
  Speaker 5: won't be receiving sense Link and I'm not sure how
• 17:45
  Speaker 5: to go about paying it off, especially the thing as
• 17:47
  Speaker 5: I plan on studying further research and I won't be
• 17:50
  Speaker 5: getting a full time job. I'm just looking at for
• 17:52
  Speaker 5: some tips to help pay it off now or whether
• 17:55
  Speaker 5: I should be leaving it until then. Thank you?
• 17:59
  Speaker 1: All right, MARYA, Let's break things down a little bit first.
• 18:02
  Speaker 1: What is the robodebt scandal.
• 18:03
  Speaker 4: So essentially Centerlink has gone and done a whole heap
• 18:07
  Speaker 4: of data matching and realized there are a number of
• 18:09
  Speaker 4: people here in Australia who have either been overpaid or
• 18:13
  Speaker 4: have not declared income that they made while taking center
• 18:17
  Speaker 4: Link payments.
• 18:18
  Speaker 1: So we've had actually so many people in the shameless
• 18:20
  Speaker 1: Facebook thread saying that this has happened to them. Once
• 18:22
  Speaker 1: said I had to provide all my pacelips for the
• 18:25
  Speaker 1: year and did that and never heard back, so it
• 18:27
  Speaker 1: must be fine. Is it fine? Is that true?
• 18:30
  Speaker 4: I think it's not fine. If you haven't heard back,
• 18:32
  Speaker 4: you really need to be following it up. If you
• 18:34
  Speaker 4: have been given a letter or you have been asked
• 18:36
  Speaker 4: to pay back something, and because you submitted it and
• 18:40
  Speaker 4: never heard back, I think it's really really important you
• 18:42
  Speaker 4: are following up on this and really asking for clarity
• 18:46
  Speaker 4: in these situations. So it's happening to so many people,
• 18:49
  Speaker 4: and it's just a product of technology getting better and better.
• 18:52
  Speaker 4: As much as it is really frustrating, it's also a
• 18:55
  Speaker 4: product of maybe people needing to take a little bit
• 18:58
  Speaker 4: more ownership of their income and knowing where it's coming
• 19:01
  Speaker 4: and what is coming in from and why.
• 19:04
  Speaker 1: So what would you advise someone like Sophie who's found
• 19:06
  Speaker 1: themselves with a letter claiming over payments.
• 19:09
  Speaker 4: I would tell her not to pay anything back just yet,
• 19:11
  Speaker 4: and get in contact with Centlink immediately. So just go
• 19:14
  Speaker 4: straight to sentilink. Ask some questions, make sure you understand
• 19:17
  Speaker 4: the situation completely. So when were these overpayments made, why
• 19:21
  Speaker 4: were they made?
• 19:22
  Speaker 3: What is it up to Sophie, Like, did Sophie.
• 19:25
  Speaker 4: Earn too much income and is that why they need
• 19:27
  Speaker 4: to be there or was this cent to Link's fault
• 19:29
  Speaker 4: and they've just overpaid. If so, I think it needs
• 19:32
  Speaker 4: to be dealt with a little bit differently because Sophie
• 19:35
  Speaker 4: wasn't doing the wrong thing to begin with.
• 19:37
  Speaker 1: So then we know Sophie has twenty six hundred dollars
• 19:39
  Speaker 1: still left in debt. How would you go about paying
• 19:41
  Speaker 1: this off if this was legitimate?
• 19:44
  Speaker 4: So I think that if it's a legitimate debt, she
• 19:46
  Speaker 4: needs to be paying it off sooner rather than later.
• 19:48
  Speaker 4: She said she's not sure what her financial situation looks
• 19:51
  Speaker 4: like in the future. So if you're going into the
• 19:54
  Speaker 4: future with a debt, you're more likely to be stressed,
• 19:57
  Speaker 4: more likely to not be able to pay it off
• 19:59
  Speaker 4: if you So, if you have the income to be
• 20:01
  Speaker 4: paying this twenty six hundred dollars off, do it sooner
• 20:04
  Speaker 4: rather than later. You don't want that hanging over your head.
• 20:07
  Speaker 1: Yeah, So, what are some tips then we can give
• 20:09
  Speaker 1: people who have been in Sophie's position? Is there like
• 20:11
  Speaker 1: a hotline we can call or someone we can go see?
• 20:14
  Speaker 4: Yeah, So, I think the first thing to do is
• 20:16
  Speaker 4: have a look at the letter that you've been given,
• 20:18
  Speaker 4: and you'll note that the number on the letter is
• 20:20
  Speaker 4: different to the normal sentling hotline, so give them a buzz,
• 20:23
  Speaker 4: work out what these debts are, why they're there, and
• 20:26
  Speaker 4: demand a breakdown of the alleged overpayments so that you
• 20:29
  Speaker 4: know exactly when they happened and why. And once you've
• 20:32
  Speaker 4: done that, you can always call the National Debt Hotline
• 20:34
  Speaker 4: or check out resources like not my debt dot com,
• 20:37
  Speaker 4: which is a website that is built and run by
• 20:39
  Speaker 4: a handful of volunteers all around Australia with the aim
• 20:42
  Speaker 4: to get as many false debt stories in one place
• 20:44
  Speaker 4: as possible. Once you've worked all of that out, had
• 20:47
  Speaker 4: a conversation with a counselor or someone who can help
• 20:50
  Speaker 4: you work this situation out, and you decide to move
• 20:52
  Speaker 4: forward into a formal appeal that'll go to the appeals
• 20:56
  Speaker 4: officer within Scentlink, who will review that decision. So I
• 20:59
  Speaker 4: think it's important to note that doing something like this
• 21:01
  Speaker 4: is really important. If you were overpaid and you are
• 21:04
  Speaker 4: in a position where you are unable to pay.
• 21:06
  Speaker 3: That debt back, or that debt is.
• 21:08
  Speaker 4: A really big burden on you, you need to be making
• 21:11
  Speaker 4: sure that you are not in a position where you
• 21:14
  Speaker 4: can have it overturned. SENTILNK isn't it be all an
• 21:17
  Speaker 4: end all either, So you can actually go external to
• 21:19
  Speaker 4: appeal these types of things to the Administrative Appeals Tribunal,
• 21:23
  Speaker 4: who are an external body to this sent link. So
• 21:26
  Speaker 4: if you feel like you're not getting what you are
• 21:29
  Speaker 4: meant to be getting, or the debt is still completely
• 21:31
  Speaker 4: unreasonable and not a debt that you feel like you
• 21:33
  Speaker 4: should be paying back, it is worth researching it.
• 21:36
  Speaker 1: And as always, now it's time for the fun stuff.
• 21:39
  Speaker 1: What good would this be if we didn't bring you
• 21:41
  Speaker 1: the pervy stuff? Yep, it's time for our weekly money dary.
• 21:44
  Speaker 1: Let's go. Today's money diary is from a twenty six
• 21:53
  Speaker 1: year old nurse who says she's keen to improve when
• 21:55
  Speaker 1: it comes to all things money.
• 21:56
  Speaker 6: I would introduce myself as twenty six year old work
• 22:01
  Speaker 6: in progress, a little bit careless, but.
• 22:04
  Speaker 3: Likes to have a good time as well.
• 22:07
  Speaker 6: I think I've always just enjoyed enjoyed life more. I've
• 22:13
  Speaker 6: always been experiences over the kind of adult side of life.
• 22:19
  Speaker 6: You know. I would rather spend my money doing things
• 22:22
  Speaker 6: that I'm enjoying, even if I can't really afford it
• 22:24
  Speaker 6: or I shouldn't afford it. I choose to do that instead,
• 22:27
  Speaker 6: and that's always been my way of life. I guess
• 22:31
  Speaker 6: I don't really know why I do that.
• 22:34
  Speaker 1: Okay, So down to the nitty gritty stuff. How much
• 22:36
  Speaker 1: does today's twenty six year old work in progress earn?
• 22:39
  Speaker 6: My base rate is seventy six thousand, but the job
• 22:42
  Speaker 6: I work in, I get penalties, so my salary could
• 22:47
  Speaker 6: be it's always changing, but my base is seventy six
• 22:50
  Speaker 6: At the moment, I have six thousand in my savings account.
• 22:54
  Speaker 6: I feel okay about at the moment. I just in
• 22:58
  Speaker 6: January got back from living overseas and I've only been
• 23:01
  Speaker 6: working full time for three months, so I feel like
• 23:05
  Speaker 6: I've really knuckled down. And I every time I look
• 23:09
  Speaker 6: at it, I think Initially I think, oh, God, like
• 23:12
  Speaker 6: do better, But then I actually think about it, and
• 23:14
  Speaker 6: I'm like, you're actually, you're okay. Actually a lot of
• 23:16
  Speaker 6: my money has gone towards traveling, like I've traveled every year.
• 23:21
  Speaker 6: I've gone overseas every year since twenty eleven. It's been
• 23:24
  Speaker 6: my thing to do every single year, and that's where
• 23:26
  Speaker 6: my money has really gone. And I'm totally fine with that. Like,
• 23:31
  Speaker 6: whenever I think about it and I compare it to
• 23:33
  Speaker 6: my friends that have lots of money, I'm like, oh,
• 23:35
  Speaker 6: but I've spent my money on experiences and that I
• 23:39
  Speaker 6: feel like money can't really buy those kind of things.
• 23:41
  Speaker 1: So we know how work in progress gets paid, but
• 23:44
  Speaker 1: what exactly happens to that money after it's deposited into
• 23:47
  Speaker 1: her account.
• 23:47
  Speaker 6: So I've just moved out, so like four hundred and
• 23:51
  Speaker 6: fifty of it will go towards my rent that's fortnightly,
• 23:54
  Speaker 6: and then I usually pay off whatever bills I have
• 23:58
  Speaker 6: straight away and get that done, and then the rest
• 24:02
  Speaker 6: of it just goes into an ABYSS savings and then
• 24:10
  Speaker 6: whatever I have happening that fortnite. Prior to moving out,
• 24:13
  Speaker 6: I was trying to put it like one thousand dollars
• 24:16
  Speaker 6: at least because I could I was.
• 24:18
  Speaker 3: Living at home.
• 24:19
  Speaker 6: Now that I'm moving out, it's a little bit difficult,
• 24:21
  Speaker 6: but I'm still going to try at least five hundred
• 24:24
  Speaker 6: dollars a fortnite to put towards my savings if I can.
• 24:27
  Speaker 1: Time for the question every money diarist dreads do you invest?
• 24:30
  Speaker 1: And if not, why?
• 24:32
  Speaker 6: I don't know anything about investing. I've never invested. I
• 24:35
  Speaker 6: don't know anything about investing. I don't understand how it works.
• 24:37
  Speaker 6: I literally have no interest in it whatsoever.
• 24:41
  Speaker 3: It's never come up.
• 24:42
  Speaker 6: I've never been in a situation where it's come up.
• 24:45
  Speaker 6: I've never been in a situation where it's been an option.
• 24:48
  Speaker 6: So I guess I just I haven't got out of
• 24:50
  Speaker 6: my way to learn about it, but I wouldn't be
• 24:52
  Speaker 6: opposed to learning about it.
• 24:53
  Speaker 1: Another tough one. It's time to talk about debts.
• 24:56
  Speaker 6: I have my hextet, which I actually look out this
• 25:00
  Speaker 6: morning and it was down to six thousand, and then
• 25:04
  Speaker 6: I enrolled in my Master's which is forty five thousand
• 25:07
  Speaker 6: dollars over three.
• 25:07
  Speaker 3: Years, so it's gone up.
• 25:10
  Speaker 6: So I think I'm now owing twenty three thousand, and
• 25:14
  Speaker 6: I have about two thousand dollars on my credit card
• 25:16
  Speaker 6: that i'm It used to be a lot worse. It
• 25:18
  Speaker 6: was five thousand that I was owing, so I'm in
• 25:21
  Speaker 6: the process of getting rid of that. I've always had
• 25:23
  Speaker 6: a very bad relationship with credit cards. A lot of
• 25:26
  Speaker 6: the time it's just something I'm out for dinner and I,
• 25:31
  Speaker 6: you know, haven't transferred money. I'm just like, oh, just
• 25:33
  Speaker 6: put on my credit card, or you know, like I'm
• 25:37
  Speaker 6: going in splendor, I'll just quickly pay it on my
• 25:39
  Speaker 6: credit card and then I'll pay it off later, and
• 25:41
  Speaker 6: I I do, but then, you know, I feel like
• 25:43
  Speaker 6: I blink and then all of a sudden, I'm owing
• 25:46
  Speaker 6: so much more on it than what I thought. Just
• 25:48
  Speaker 6: gets out of hand quickly, and I'm not very good
• 25:49
  Speaker 6: at paying it. I know a lot of people pay
• 25:52
  Speaker 6: use it in the fortnite, and then pay it at
• 25:54
  Speaker 6: the end of the fortnight. I've never been that that person,
• 25:57
  Speaker 6: So I think once I you know, I need to
• 25:59
  Speaker 6: get rid of it. I would like to think that
• 26:01
  Speaker 6: when I pay off my credit card, I'll cut it up.
• 26:03
  Speaker 1: So does this work in progress have any good money
• 26:05
  Speaker 1: habits that she's proud of?
• 26:07
  Speaker 3: M Oh, my gosh, I don't know.
• 26:12
  Speaker 6: M I actually don't know what my best buddy habit is?
• 26:18
  Speaker 1: Is that bad?
• 26:19
  Speaker 6: I can think of one that I've tried, but it
• 26:21
  Speaker 6: doesn't It hasn't really worked as well as I hope for.
• 26:23
  Speaker 6: So I drink coffee every day. I got a coffee maker,
• 26:29
  Speaker 6: buy proper coffee, and that's my way of stopping to
• 26:32
  Speaker 6: buy coffee. But it doesn't always.
• 26:36
  Speaker 3: Still I still buy coffee. I literally got one on
• 26:39
  Speaker 3: the way here.
• 26:39
  Speaker 1: I don't know what I'm talking about and her worst
• 26:41
  Speaker 1: money habit, I think I just.
• 26:43
  Speaker 6: I'm very impulsive, that's my I think that was probably
• 26:46
  Speaker 6: my worst money habit.
• 26:47
  Speaker 3: I just.
• 26:49
  Speaker 6: You know that Ariana Grande song, that's I see it,
• 26:51
  Speaker 6: I want it, I got it. That's literally me. I
• 26:54
  Speaker 6: find something, I'm like, yep, I like that. I want it.
• 26:56
  Speaker 3: I'm going to get it right now done.
• 26:58
  Speaker 6: And if I don't get it, I'm thinking about it
• 26:59
  Speaker 6: all the time, like I need that, even if I
• 27:01
  Speaker 6: don't actually need it. Once I decide that I want something,
• 27:04
  Speaker 6: that's it, I'm gonna get it.
• 27:05
  Speaker 1: So we have some work to do, but let's find
• 27:07
  Speaker 1: out what that work is for. What are our work
• 27:09
  Speaker 1: in progress as big money goals that she wants to
• 27:12
  Speaker 1: save towards.
• 27:13
  Speaker 6: I am gonna in the process of saving for a house.
• 27:18
  Speaker 3: I actually just.
• 27:21
  Speaker 6: Kind of got approved for a home loan. My parents
• 27:24
  Speaker 6: are guaranteed for me, so I am doing going down
• 27:28
  Speaker 6: that route. But for myself, I need I need to
• 27:33
  Speaker 6: have a solid amount of savings before I look into
• 27:36
  Speaker 6: actually doing that, because at the end of the day,
• 27:39
  Speaker 6: even though my you know, they're guarantee for me, I
• 27:41
  Speaker 6: have to pay the loan.
• 27:43
  Speaker 3: Like it's not anyone else's job to pay it.
• 27:44
  Speaker 6: So I'm in the process of saving a solid amount
• 27:47
  Speaker 6: of money so that I can go ahead with that
• 27:50
  Speaker 6: and also more trips as well.
• 27:51
  Speaker 1: So how would today's money diarist rate her own relationship
• 27:54
  Speaker 1: with money? If we force her to give herself a grade, I.
• 27:57
  Speaker 6: Would say a see see. I'm gonna say see plus whatever.
• 28:02
  Speaker 6: That's too generous. I think I've had bad money habits,
• 28:08
  Speaker 6: but I'm aware that I need to be better, and
• 28:12
  Speaker 6: I mean the process of doing that. But in saying that,
• 28:14
  Speaker 6: I don't regret any of my money habits because, as
• 28:17
  Speaker 6: I said earlier, they've all brought me experiences, so I
• 28:20
  Speaker 6: don't regret at all. I'm just aware that I need
• 28:23
  Speaker 6: to be the twenty six year old that I am.
• 28:27
  Speaker 1: So Victoria, what are your thoughts?
• 28:29
  Speaker 4: I think she's in a situation that many millennials are in, actually,
• 28:32
  Speaker 4: where you maybe aren't super clear on your goals.
• 28:35
  Speaker 3: It sounded like she wasn't sure whether she wanted.
• 28:37
  Speaker 4: To purchase a home or travel first, and she felt
• 28:40
  Speaker 4: like she wasn't maybe on top of her cash flow.
• 28:43
  Speaker 4: So what was coming in and being saved As much
• 28:45
  Speaker 4: as she said that she was saving five hundred dollars
• 28:48
  Speaker 4: a fortnight, she still had two thousand dollars on her
• 28:50
  Speaker 4: credit card, and having two thousand dollars on your credit
• 28:52
  Speaker 4: card means that you have spent two thousand dollars more
• 28:56
  Speaker 4: than you've earned.
• 28:57
  Speaker 1: So what would you recommend she do? What could she
• 28:59
  Speaker 1: improve on?
• 29:00
  Speaker 4: I think that she should have a really good look
• 29:02
  Speaker 4: at her cash flow and her goals and work out
• 29:05
  Speaker 4: what do you want to do? Do you want to
• 29:06
  Speaker 4: travel first? Do you want to buy a home or
• 29:08
  Speaker 4: what does that home actually look like? If you're in
• 29:10
  Speaker 4: a position where you are lucky enough that you've got
• 29:12
  Speaker 4: parents that are willing to guarantee a loan for you,
• 29:15
  Speaker 4: is that something you want to take on immediately or
• 29:17
  Speaker 4: do you still have some like bucket list goals to
• 29:19
  Speaker 4: tick off and you need to go down the South
• 29:21
  Speaker 4: of France. I don't know, but I also think she
• 29:24
  Speaker 4: needs to address that credit card. Two thousand dollars on
• 29:27
  Speaker 4: a credit card when you are saving five hundred dollars
• 29:29
  Speaker 4: a fortnight is a lot to have, So I think
• 29:32
  Speaker 4: getting rid of that credit card asap is really important.
• 29:36
  Speaker 4: Now I'm not saying don't have access to that card,
• 29:38
  Speaker 4: but the way that she's using it doesn't seem constructive.
• 29:41
  Speaker 4: So she said that she just puts festival tickets on it,
• 29:43
  Speaker 4: and she uses it in a way where if she
• 29:46
  Speaker 4: hasn't remembered to take money out for a dinner, she's
• 29:49
  Speaker 4: just spending it on that and maybe forgetting about it.
• 29:51
  Speaker 4: I think she needs to maybe put some space between
• 29:54
  Speaker 4: her and that credit card and maybe when she's going
• 29:56
  Speaker 4: out leave it at home.
• 29:57
  Speaker 1: It's bad debt.
• 29:58
  Speaker 3: It is bad debt, exactly. You are learning so much.
• 30:01
  Speaker 3: I'm so proud of you.
• 30:02
  Speaker 1: What about what she's maybe doing well. I loved the
• 30:06
  Speaker 1: Ariana Grande reference.
• 30:07
  Speaker 4: I did too, But I think that what she's doing
• 30:12
  Speaker 4: well is saving. So she said that she was putting
• 30:14
  Speaker 4: five hundred dollars a fortnight and she had a couple
• 30:16
  Speaker 4: of thousand dollars saved. I think that that's a really
• 30:18
  Speaker 4: good goal. I think that she's spending a reasonable amount
• 30:22
  Speaker 4: on rent. Like at the same time, as you know,
• 30:25
  Speaker 4: we all have to pay rent. Eight hundred dollars is
• 30:28
  Speaker 4: a really reasonable amount to be paying per month for
• 30:30
  Speaker 4: her salary. So I think she's got a lot of
• 30:32
  Speaker 4: income for her age and for the stage of life
• 30:36
  Speaker 4: she's in, and she has a lot to do with that.
• 30:38
  Speaker 4: So I think that as much as she's saying, oh,
• 30:39
  Speaker 4: I don't know what I'm doing, I don't know where
• 30:41
  Speaker 4: I'm going, she could just increase the clarity on that
• 30:44
  Speaker 4: for herself and be in such a better financial position
• 30:47
  Speaker 4: twelve months from now. And that clarity is what's going
• 30:49
  Speaker 4: to give her that.
• 30:50
  Speaker 1: And she seemed super positive as well, which is always good.
• 30:52
  Speaker 3: She did.
• 30:53
  Speaker 4: I really liked that she could also learn a little
• 30:55
  Speaker 4: bit about investing, So whether that's having a look at
• 30:58
  Speaker 4: that she's on the money Facebook group and going through
• 31:00
  Speaker 4: the posts and comments in there, or even just researching
• 31:02
  Speaker 4: a couple of books she could read, and you know,
• 31:05
  Speaker 4: educating herself on what actually invest or what investing actually is,
• 31:09
  Speaker 4: I think is a really important step for someone who has,
• 31:12
  Speaker 4: you know, five hundred dollars a fortnite is a really
• 31:14
  Speaker 4: nice amount of cashlow to start investing. And if she's
• 31:17
  Speaker 4: talking about buying a property, that's an investment in itself,
• 31:20
  Speaker 4: so maybe have an understanding of why you want property
• 31:23
  Speaker 4: as opposed to any other asset class.
• 31:25
  Speaker 1: Well, that's all we have time for today again. Episode three.
• 31:28
  Speaker 3: Down look at us go, we are flying.
• 31:31
  Speaker 1: I know what, just before we head off, though, as always,
• 31:33
  Speaker 1: let's quickly wrap the boring but important stuff. The advice
• 31:37
  Speaker 1: shared on Shees on the Money is general in nature
• 31:39
  Speaker 1: and does not consider your individual circumstances. She's on the
• 31:42
  Speaker 1: Money exists purely for educational purposes only and should not
• 31:45
  Speaker 1: be relied upon to make an investment or a financial decision.
• 31:48
  Speaker 1: And of course we promise Victoria Divine is an authorized
• 31:51
  Speaker 1: representative of consulting. Financial advice is proprietary limited. Here goes
• 31:55
  Speaker 1: ABN six five double O six three seven three double
• 31:59
  Speaker 1: nine five AFSL two.
• 32:01
  Speaker 3: Three oh three two three.
• 32:04
  Speaker 4: I think that's the first time you've got that out
• 32:06
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• 32:20
  Speaker 1: This podcast is a production of Shameless Media on behalf
• 32:23
  Speaker 1: of She's on the Money. See you guys next week. Bye.