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Should You Wait For The Property Market To Drop? And What If Paying Off a Big Debt Isn’t Their Priority · She's On The Money

• 0:00
  Speaker 1: My name's Sasha Bamblet. I'm a proud First Nations woman
• 0:03
  Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya,
• 0:08
  Speaker 1: Niana Kaka yah y and Binahaka Nian our gay In
• 0:11
  Speaker 1: Mbini yakarum Jar Dominyamiga Umagahawaka Woman Damon Imlan Bumba ban
• 0:17
  Speaker 1: Gadabomba in and now in wakah Ghana on yak rum
• 0:20
  Speaker 1: Jar water Nadaa. Hello, beautiful friends, we gather on the
• 0:24
  Speaker 1: lands of the Aboriginal people. We thank, acknowledge and respect
• 0:27
  Speaker 1: the Abiginal people's land that we're gathering on today. Take
• 0:30
  Speaker 1: pleasure in all the land and respect all that you see.
• 0:34
  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.
• 0:45
  Speaker 2: She's on the Money. She's on the Money.
• 1:08
  Speaker 3: Hello and welcome to She's on the Money, the podcast
• 1:11
  Speaker 3: that makes personal finance fun, especially on Fridays. It's our
• 1:15
  Speaker 3: favorite day of the week because we get our team
• 1:17
  Speaker 3: together and we celebrate you the incredible. She's on the
• 1:20
  Speaker 3: Money community Ms. Jess Gri She's here checking our pronunciation
• 1:23
  Speaker 3: to make sure everything's right, but also we'll be sharing
• 1:26
  Speaker 3: her favorite money wins and tips and tricks, and Miss
• 1:28
  Speaker 3: Besayed has a number of good broke tips for us.
• 1:31
  Speaker 3: This week, we're going to also be helping to answer
• 1:33
  Speaker 3: a money dilemma, which this week is asking, how do
• 1:36
  Speaker 3: you know if you're buying a property in the market
• 1:38
  Speaker 3: peak and something you slid into our dms? About what
• 1:42
  Speaker 3: do you do if your partner is in forty thousand
• 1:45
  Speaker 3: dollars worth of debt and they're just not in a
• 1:46
  Speaker 3: hurry to pay it off. Interesting? But before we get there,
• 1:52
  Speaker 3: how are your weeks?
• 1:54
  Speaker 4: He's been lovely.
• 1:54
  Speaker 5: I have nothing exciting to report it all. I'm afraid,
• 1:57
  Speaker 5: just gorgeous.
• 1:58
  Speaker 4: Live and love and love.
• 2:01
  Speaker 6: No news is good news.
• 2:02
  Speaker 4: Yeah, how about you?
• 2:04
  Speaker 7: My week's been really good technically because we're recording a
• 2:06
  Speaker 7: few days earlier this week. Cheeky, cheeky, when you hear this,
• 2:10
  Speaker 7: I am in Thailand. I will be in Thailand or
• 2:12
  Speaker 7: maybe just coming back.
• 2:13
  Speaker 3: Actually, so you'll be in Thailand.
• 2:16
  Speaker 4: You'll be in Thailand.
• 2:17
  Speaker 3: You'll be enjoying in Thailand. So if everybody could just
• 2:20
  Speaker 3: shut their eyes for a second, if you're not driving, Yes,
• 2:23
  Speaker 3: and imagine Beck on a beach with a coconut.
• 2:25
  Speaker 6: Yes, we've got to come out feel like that.
• 2:28
  Speaker 3: I've got a man.
• 2:30
  Speaker 5: If we're fantasizing, there's no vage fantasizing that Beck quits vaping.
• 2:35
  Speaker 5: I also accept her as she is, Like I just
• 2:37
  Speaker 5: like her the way she is, so that's fine.
• 2:39
  Speaker 3: But also we shouldn't be romanticizing that. That's not any
• 2:43
  Speaker 3: that's really bad. That's it's so funny.
• 2:45
  Speaker 7: I've watched a full like emotional roles, you just fantasizing
• 2:51
  Speaker 7: about my.
• 2:53
  Speaker 5: For you.
• 2:53
  Speaker 3: But also I feel like in Thailand, like this is
• 2:56
  Speaker 3: not good, but like I feel like you're gonna have
• 2:59
  Speaker 3: a limited access to of apes. Yeah, you're fine in Thailand,
• 3:02
  Speaker 3: but you've been trying to stop.
• 3:03
  Speaker 4: I have good faith in your self control, thank you
• 3:07
  Speaker 4: so much.
• 3:08
  Speaker 3: I have no faith in I don't have any faith
• 3:11
  Speaker 3: in my own self control. So I wish I could
• 3:14
  Speaker 3: help you back there. Like as much as we are
• 3:16
  Speaker 3: complete polar opposites when it comes to our ADHD same same.
• 3:20
  Speaker 6: Yeah, yeah, completely agree.
• 3:21
  Speaker 7: I did like one of those personality tests and self
• 3:24
  Speaker 7: like what's the word self regulation? So regulation and like
• 3:27
  Speaker 7: impulse control was my lowest and so I'm like, I
• 3:30
  Speaker 7: don't have any faith you were like, I.
• 3:31
  Speaker 3: Have no surprises on thisa.
• 3:33
  Speaker 6: No surprises, but I.
• 3:36
  Speaker 3: So tricks on how they quit vaping. Yeah, let me
• 3:38
  Speaker 3: know right into our DMS, because I feel like this
• 3:40
  Speaker 3: is nice an uncommon experience.
• 3:42
  Speaker 7: No, I don't think so, I think, yeah, let me
• 3:44
  Speaker 7: know how you did it, very very grateful and maybe
• 3:46
  Speaker 7: I'll use one or two of those tips.
• 3:48
  Speaker 6: But yes, So currently right out in Thailand and living
• 3:52
  Speaker 6: it up. So great week. I gotta tell you.
• 3:54
  Speaker 4: Great week. You guys.
• 3:56
  Speaker 3: I love that for you. I mean I just got
• 3:57
  Speaker 3: back from Bali, and so I'm a little bit salty
• 4:00
  Speaker 3: that you're technically in Thailand right now, because there's nothing
• 4:05
  Speaker 3: like just escaping the winter for a bit. Oh yeah,
• 4:09
  Speaker 3: But like you escape, you feel amazing. It's so warm.
• 4:12
  Speaker 3: And then you catch your flight and like, I don't
• 4:14
  Speaker 3: know if you're like me, No, I know you're like me.
• 4:17
  Speaker 3: We pick the inconvenient flight times, not because they're inconvenient,
• 4:20
  Speaker 3: but because they're much cheaper.
• 4:22
  Speaker 4: Oh yeah.
• 4:22
  Speaker 3: And so you fly back into Melbourne one am and
• 4:26
  Speaker 3: you're like, I have to get back to my car.
• 4:28
  Speaker 3: I have to put a baby into the car. It's
• 4:30
  Speaker 3: bloody cold, it's freezing. He's upset and this is not
• 4:34
  Speaker 3: the Bali vibes that I had prior. Oh yeah, I
• 4:38
  Speaker 3: feel like I'm on my post holiday blues. I get it,
• 4:42
  Speaker 3: and you're just rubbing it in my face. That's nice,
• 4:45
  Speaker 3: but also what a privilege we get to holiday? How good?
• 4:48
  Speaker 6: Yeah, that's so true.
• 4:49
  Speaker 4: Good pray we look at it.
• 4:50
  Speaker 3: So would you guys like to hear a little five
• 4:53
  Speaker 3: star review from the week that was Please all right,
• 4:57
  Speaker 3: sit down because this one is cute. This one is
• 5:00
  Speaker 3: reread and she says love you guys, absolutely love listening
• 5:03
  Speaker 3: to you. Every single week. I never miss an episode
• 5:05
  Speaker 3: and I'm always looking forward to the next one. Since
• 5:08
  Speaker 3: finding She's on the Money, I've learned so much about
• 5:10
  Speaker 3: managing my money, particularly investing. I have started reading Victoria's
• 5:15
  Speaker 3: books and I'm finding them so helpful in my current
• 5:17
  Speaker 3: money journey. I honestly wish there was more than three
• 5:20
  Speaker 3: episodes a week. Oh that's so cute. Someone slid into
• 5:24
  Speaker 3: my DMS like a month ago and was like Victoria, like,
• 5:27
  Speaker 3: I don't mean to be a pest, but like, you
• 5:29
  Speaker 3: need to do more episodes a week. I was like,
• 5:31
  Speaker 3: girliea or where we do? Like no podcast does three
• 5:35
  Speaker 3: like that's a lot. And she's like, yeah, I actually
• 5:38
  Speaker 3: binge listened to them all on a Friday and then
• 5:41
  Speaker 3: have only one day where like I can listen to
• 5:44
  Speaker 3: your podcast, So you're just going to need to step
• 5:46
  Speaker 3: it up. And I was like, girl, the only recommendation
• 5:48
  Speaker 3: I have is putting us in slow mo.
• 5:50
  Speaker 6: We can do more, I mean, just can do more.
• 5:52
  Speaker 4: Okay, yeah, you.
• 5:52
  Speaker 3: Guys do that. And also I want nothing to do
• 5:54
  Speaker 3: with the planning process because that actually takes a really
• 5:56
  Speaker 3: long time. I'm pretty sure our producer Emma is scowling
• 5:59
  Speaker 3: at you right now. She also wants to kill you.
• 6:02
  Speaker 3: We are trying our best.
• 6:04
  Speaker 5: Yeah, if I was put in charge of it would
• 6:06
  Speaker 5: not be finance. It would just be something.
• 6:08
  Speaker 3: It's just like the Jess and Beck wrap up of
• 6:11
  Speaker 3: the week, and it's just yacking about literally favorite tiktoks
• 6:15
  Speaker 3: of the week.
• 6:17
  Speaker 6: Imagine, Oh my god.
• 6:18
  Speaker 3: I love it. Someone and someone said we need to
• 6:21
  Speaker 3: give Beck her own podcast in my DMS and I
• 6:24
  Speaker 3: was like, that is really sweet, but no, we do not.
• 6:27
  Speaker 3: Like Becky is amazing, But can you imagine if Beck
• 6:29
  Speaker 3: wasn't in a controlled environment, like and she just had
• 6:32
  Speaker 3: her own Beck show, it would be great. People would
• 6:35
  Speaker 3: love it, but you would not be able to predict
• 6:37
  Speaker 3: what was about to happen, what's going to be on
• 6:39
  Speaker 3: the show.
• 6:39
  Speaker 4: Who knows?
• 6:40
  Speaker 6: Maybe twelve hours long as well.
• 6:42
  Speaker 3: Yeah, like the episodes would go for six years. My
• 6:45
  Speaker 3: husband actually said he started a twenty hour podcast the
• 6:49
  Speaker 3: other day, and I was like, I would.
• 6:51
  Speaker 4: Never like an episode was twenty hour yep.
• 6:53
  Speaker 3: And I was like, oh, that was actually crazy science
• 6:58
  Speaker 3: and I was like, yes, okay, cool. I mean, you
• 7:00
  Speaker 3: can't trust this man's podcast recommendations. He listens to cricket podcasts,
• 7:04
  Speaker 3: He listens to science podcasts and history podcasts, which find
• 7:08
  Speaker 3: slaking like pop off, but like I get in his
• 7:11
  Speaker 3: car sometimes and like it automatically starts playing, and I'm like,
• 7:14
  Speaker 3: this is so blend. What are you doing?
• 7:17
  Speaker 6: It's really good, Like some people just have their brain.
• 7:23
  Speaker 4: My husband straight. I don't want to.
• 7:26
  Speaker 3: Say about it, but I just feel really bad for
• 7:27
  Speaker 3: my son because he gets in the car with his
• 7:30
  Speaker 3: dad and has to listen to this drivel.
• 7:32
  Speaker 4: He's going to be so smart mostify.
• 7:37
  Speaker 5: I don't know what the verb osmosis is, but he's
• 7:39
  Speaker 5: going to soak it all up.
• 7:40
  Speaker 3: He's going to soak it all up alright, Well, I
• 7:41
  Speaker 3: am praying for that because the big brains aren't coming
• 7:44
  Speaker 3: from my side of the family, Miss jessic Rici. When
• 7:48
  Speaker 3: it comes to money, wins and confessions, what are you
• 7:51
  Speaker 3: bringing all right?
• 7:51
  Speaker 5: First of this week, I've got one from Julia, who
• 7:53
  Speaker 5: said her parents were helping her do a huge yard
• 7:55
  Speaker 5: clean up on the weekend, including cutting back a big
• 7:57
  Speaker 5: tree that was starting to overhang, and her eber mentioned
• 8:00
  Speaker 5: that their council offers four free green waist drop offs
• 8:04
  Speaker 5: at the dump every year. Hey, that's a good deal,
• 8:06
  Speaker 5: I want to remind every and you also get free recycled.
• 8:08
  Speaker 4: Well maybe it's not every council. My council.
• 8:10
  Speaker 3: My coucle does it as well.
• 8:11
  Speaker 5: Free recycling drop off, so if your recycling being's getting full,
• 8:14
  Speaker 5: you can take it to your generally local for free.
• 8:17
  Speaker 5: So always worth checking account's website exactly as Julia did. Next,
• 8:21
  Speaker 5: I've got a money in from Christy, who said she
• 8:23
  Speaker 5: had got a money in from last week. She had
• 8:25
  Speaker 5: been wanting to hit her daughter a mini Yoho player
• 8:28
  Speaker 5: for her birthday, so she's been tracking both marketplace and
• 8:31
  Speaker 5: the website for a deal mini Yodo player for anyone
• 8:33
  Speaker 5: playing at home.
• 8:34
  Speaker 4: What's the other version of the Kyoto?
• 8:36
  Speaker 6: And then.
• 8:39
  Speaker 4: I really want to get one Friday.
• 8:40
  Speaker 3: It's like basically an audio book player. The cool put
• 8:45
  Speaker 3: cards in. It looks like a little bit like an
• 8:47
  Speaker 3: old school cassette player. You put the card in and
• 8:49
  Speaker 3: it plays like music or talking books or educational content
• 8:53
  Speaker 3: or it is the Tony Box, which is what my
• 8:55
  Speaker 3: son has. And I picked it, not sponsored, by the way,
• 8:57
  Speaker 3: I just purchased it for him. I picked it because
• 8:59
  Speaker 3: it's like a box and it's like soft, so easy,
• 9:02
  Speaker 3: and he's like one and a half. And it has
• 9:05
  Speaker 3: characters that magnet to the top of it and the
• 9:07
  Speaker 3: character's magnet and then it's got like songs and books
• 9:10
  Speaker 3: and stuff on it.
• 9:10
  Speaker 4: Cool.
• 9:11
  Speaker 6: Oh one of those I just got.
• 9:12
  Speaker 4: It look really fun.
• 9:13
  Speaker 3: I want to get so yeah. The tactile nature of
• 9:16
  Speaker 3: it was like, oh, that's probably better for someone younger,
• 9:19
  Speaker 3: but the Yoto looks very cool as well.
• 9:21
  Speaker 5: Well. Christy managed to find someone a marketplace. You had
• 9:23
  Speaker 5: a ten percent discount, and then the website had up
• 9:25
  Speaker 5: to twenty percent off, so she's caored herself thirty percent
• 9:27
  Speaker 5: off in total.
• 9:28
  Speaker 3: That's such a good deal.
• 9:29
  Speaker 5: Really well done, and I feel like When they first came,
• 9:31
  Speaker 5: those things weren't going on sale. But now they've been
• 9:33
  Speaker 5: in Australia for a little bit, they are starting to discount.
• 9:35
  Speaker 5: I feel like me and you've been wanting to get one,
• 9:37
  Speaker 5: keep an eye out.
• 9:37
  Speaker 3: Yeah, and also marketplace is great for that's great, like
• 9:42
  Speaker 3: they just grow out of it and mums put it
• 9:44
  Speaker 3: up there for much cheaper. And to be honest, they're
• 9:46
  Speaker 3: pretty well made, so I put her is shoes pretty sturdy. Next,
• 9:50
  Speaker 3: I got money in from Natasha, who said she bought
• 9:52
  Speaker 3: four or five liter bottles of engine oil on sale
• 9:54
  Speaker 3: last week. That's exactly what I always go looking for.
• 9:57
  Speaker 5: She said they were half priced and much cheaper than
• 10:00
  Speaker 5: I had been in ages. That means that she can
• 10:02
  Speaker 5: service her and her husband's car for approximately fifty one
• 10:05
  Speaker 5: dollars across the next yard.
• 10:06
  Speaker 3: Excuse me, that.
• 10:07
  Speaker 6: Is such a slay.
• 10:08
  Speaker 3: What do you mean you are servicing your husband's car?
• 10:11
  Speaker 4: I can't. That's what we love to see. But it's
• 10:14
  Speaker 4: really cool.
• 10:14
  Speaker 3: Well it's thought cheap apparently that's very beck coded.
• 10:18
  Speaker 6: Oh yeah, I love it.
• 10:20
  Speaker 5: Next, I've got a money loss from Gemma, which I
• 10:21
  Speaker 5: giggled aut just because I could really relate said money loss.
• 10:24
  Speaker 5: I really need to stop shopping at TKX because I
• 10:25
  Speaker 5: never leave empty.
• 10:27
  Speaker 3: That's jam.
• 10:28
  Speaker 5: I love tex That's where if anyone wants to know
• 10:30
  Speaker 5: where to get good Halloween DECORX for it.
• 10:33
  Speaker 4: Yeah, because they're American.
• 10:35
  Speaker 3: Remember the time we went to America and then you
• 10:37
  Speaker 3: brought home a whole suitcase full of plastic pumpkins.
• 10:39
  Speaker 4: I use them every year.
• 10:40
  Speaker 3: I'd love to go back into shade just like probably
• 10:43
  Speaker 3: the one of the funniest moments ever. And then we're
• 10:45
  Speaker 3: with the rest of the team. Beck, Sorry you weren't there,
• 10:47
  Speaker 3: because you would have made that really fun. It already
• 10:50
  Speaker 3: was fun, but you would have taken it to the
• 10:51
  Speaker 3: next level. Jess was negotiating with the rest of the
• 10:54
  Speaker 3: team because she brought too many pumpkins. Could get a
• 10:57
  Speaker 3: plastic pumpkin into their suitcase to smuggle it back to Australia.
• 11:02
  Speaker 7: If you had a hole in the top, then you
• 11:03
  Speaker 7: just put things in there. It's almost like didn't do well.
• 11:07
  Speaker 5: I think I got to seven of various sizes in
• 11:09
  Speaker 5: my already very full suit.
• 11:12
  Speaker 6: Jess, I need to.
• 11:13
  Speaker 7: Tell you that if you get a witch's head like
• 11:17
  Speaker 7: thing casing, you can grow your pumpkins into a witch's head.
• 11:21
  Speaker 6: That's so fine and I just need to do that.
• 11:24
  Speaker 3: Do you grow pumpkins? I have a but it's an option.
• 11:28
  Speaker 7: I think I want to get into it this year
• 11:30
  Speaker 7: is yes, because honestly, because of.
• 11:32
  Speaker 6: You's so fun.
• 11:35
  Speaker 3: Alright.
• 11:36
  Speaker 5: Lastly, this week, I've got a money from Erica, who
• 11:39
  Speaker 5: said she got her library membership renewed so she could
• 11:41
  Speaker 5: get some audiobooks from the app Libby instead of paying
• 11:44
  Speaker 5: for Audible or buying from Apple. She said she's already
• 11:48
  Speaker 5: listened to Ikey Guy and is now listening to the
• 11:50
  Speaker 5: Money Diaries book.
• 11:51
  Speaker 3: Okay, that means she probably did my best year yet,
• 11:54
  Speaker 3: of course, which will obviously come back in January next
• 11:57
  Speaker 3: year again. But Ikey Guy is a very good book
• 12:01
  Speaker 3: for you to read if you are trying to find
• 12:04
  Speaker 3: your passion in life and also get paid for it,
• 12:07
  Speaker 3: which we love that outcome.
• 12:08
  Speaker 4: An ekey guy. That was what I was looking at
• 12:11
  Speaker 4: the part.
• 12:12
  Speaker 3: It's a Japanese concept of finding like contentment in life.
• 12:16
  Speaker 3: So there's like four different components and I'm going to
• 12:19
  Speaker 3: murder it off the top of my head, but like
• 12:21
  Speaker 3: what you like doing, what the community and the world needs,
• 12:24
  Speaker 3: and what you can get paid for, and like what
• 12:26
  Speaker 3: skills you have, and so like how do you bring
• 12:29
  Speaker 3: those things together? Because I think sometimes we need a
• 12:31
  Speaker 3: framework to kind of help us work out what we
• 12:33
  Speaker 3: want to do with our lives. But then it's also
• 12:35
  Speaker 3: not that helpful. Honestly, if I'm like, oh, Jess, well
• 12:38
  Speaker 3: what do you like doing? Well, that's very different than
• 12:41
  Speaker 3: what do you like doing? But can also get paid for?
• 12:43
  Speaker 8: Me?
• 12:46
  Speaker 5: That you could?
• 12:47
  Speaker 3: I reckon Jess if she got another side hustle would
• 12:50
  Speaker 3: be one of those women who goes and decorates other
• 12:53
  Speaker 3: people's Christmas trees.
• 12:54
  Speaker 4: That's my dream, I know.
• 12:55
  Speaker 3: I thought about starting.
• 12:56
  Speaker 5: Actually I don't want to share my business idea because
• 12:59
  Speaker 5: what if one day I do it? But I had
• 13:00
  Speaker 5: a Christmas themesue raiding business idea?
• 13:02
  Speaker 3: Can you just do that for my house?
• 13:04
  Speaker 4: Absolutely?
• 13:06
  Speaker 3: When I was pregnant with Harvey, to help me set
• 13:09
  Speaker 3: up my Christmas tree and it never has looked better.
• 13:11
  Speaker 6: So yeah, I will pay you to do mine.
• 13:13
  Speaker 4: This here, you don't have to pay me. I do
• 13:14
  Speaker 4: have a freak.
• 13:15
  Speaker 6: Oh business labor.
• 13:20
  Speaker 3: I love you will definitely take advantage if they're able
• 13:23
  Speaker 3: to miss be show me what have you got when
• 13:25
  Speaker 3: it comes to broke tips.
• 13:26
  Speaker 7: Okay, so this first one comes from Stepha Best and
• 13:31
  Speaker 7: Less Friends Club, Best.
• 13:32
  Speaker 6: And Less, Oh my god.
• 13:34
  Speaker 3: Friends Club is Q.
• 13:35
  Speaker 4: They do great kids and babies clothes.
• 13:37
  Speaker 3: I am aware. I am to day care in bloody
• 13:42
  Speaker 3: Country Road. It's not happening you are wearing Best unless
• 13:45
  Speaker 3: you are wearing k Mart. I don't even know how.
• 13:47
  Speaker 3: But the other day he came home with paint on
• 13:49
  Speaker 3: his back.
• 13:50
  Speaker 6: Oh FLEXI booking, but you know.
• 13:53
  Speaker 3: Where You're just like, I don't know how that happens,
• 13:55
  Speaker 3: but I'm glad that that was on a kmart jumper.
• 13:58
  Speaker 6: Best and Less God, I need to go back in there.
• 14:00
  Speaker 7: I'm also like, I always tie them to my head
• 14:01
  Speaker 7: with Lows, but I know the separate But they do actually.
• 14:04
  Speaker 3: Have good trading. You've never been into Low's.
• 14:06
  Speaker 6: Low's is great. I love Lows.
• 14:08
  Speaker 3: What are you buying Lows? I feel like all they
• 14:09
  Speaker 3: sell is Hawaiian shirts because whenever I walk past the store,
• 14:12
  Speaker 3: they've just got Hawaiian shirts in the front. So I'm like, this,
• 14:15
  Speaker 3: this is not my that's the dream.
• 14:21
  Speaker 5: Track.
• 14:21
  Speaker 6: They just do work clothes and Hawaiian T shirts.
• 14:24
  Speaker 4: And party shirts.
• 14:26
  Speaker 6: So strange. Yeah, I think you go in there fools
• 14:29
  Speaker 6: like you.
• 14:30
  Speaker 7: Good basics. Yeah, you're trading clothes and stuff like that.
• 14:33
  Speaker 7: Best and Less Friends Club. Make sure you log into
• 14:35
  Speaker 7: your account and you can add yours plus your partners
• 14:37
  Speaker 7: and five more birthdays. Each birthday month you get a
• 14:41
  Speaker 7: fifty percent off voucher sent out.
• 14:43
  Speaker 6: That's seven months of coupons.
• 14:45
  Speaker 4: Because you do.
• 14:46
  Speaker 7: Yourself, your partner and five other birthdays. Can you do
• 14:49
  Speaker 7: yourself and six other people?
• 14:51
  Speaker 6: My cat, my other.
• 14:52
  Speaker 3: Cat, exactly exactly, cat that I don't have yet. Sure,
• 14:56
  Speaker 3: his birthday is on the nineteenth of August, your original
• 14:59
  Speaker 3: du eight.
• 15:00
  Speaker 6: It was two weeks late, so I get the fourteenth
• 15:02
  Speaker 6: and the thirtieth.
• 15:04
  Speaker 3: Those tiktoks of people being like, I'm going out to
• 15:06
  Speaker 3: celebrate today, Can I get myself a sweet treat and
• 15:09
  Speaker 3: a gift, and then they go because I wasn't born today,
• 15:12
  Speaker 3: but I could have been, and if I was, it
• 15:13
  Speaker 3: would have been my birthday.
• 15:15
  Speaker 6: Really respect every day could have been our birthdays. They
• 15:18
  Speaker 6: could be birthday could be.
• 15:20
  Speaker 3: It wasn't, but it could have been, and we should
• 15:22
  Speaker 3: celebrate that.
• 15:22
  Speaker 7: Absolutely, I agree. So I think that's really great and
• 15:25
  Speaker 7: exactly it's just it's perfect. Kids in baby clothes and
• 15:27
  Speaker 7: school basics, or stocking up on little hair.
• 15:30
  Speaker 6: Trinkets for birthday presents. Ah, they's so cute.
• 15:33
  Speaker 7: The next one comes from Mikayla, who says, find a
• 15:36
  Speaker 7: company that sells laundry liquid to hotels, et cetera in
• 15:39
  Speaker 7: twenty kilo lots.
• 15:40
  Speaker 3: Oh that's huge.
• 15:41
  Speaker 7: They pay seventy dollars for twenty kilos of concentrate water
• 15:44
  Speaker 7: down and lasts over two years.
• 15:45
  Speaker 6: That's three people five horses worth of laundry. Wow, what
• 15:51
  Speaker 6: kind of laundry the horses use?
• 15:55
  Speaker 3: Horses?
• 15:57
  Speaker 5: Like? I think?
• 15:58
  Speaker 3: Can they have little legg warms because they do aerobics?
• 16:01
  Speaker 5: Oh?
• 16:02
  Speaker 6: That's so.
• 16:03
  Speaker 3: It's very clear that I do not drive past like
• 16:06
  Speaker 3: you go down the morning to Peninsul. Do not drive
• 16:09
  Speaker 3: past all the horses in their little coats.
• 16:11
  Speaker 6: They do get little coats on. Yeah, I don't know
• 16:13
  Speaker 6: you wash those. I would just chuck them in the garden.
• 16:15
  Speaker 3: And I just feel like, I don't know when it's
• 16:18
  Speaker 3: rude to not point out animals as you're driving. And
• 16:22
  Speaker 3: I have to be like, oh, look, Steve cows and
• 16:24
  Speaker 3: he's like cool horses, horses, high horses, and Steve's like
• 16:29
  Speaker 3: I have married a child that's a cute. Not to
• 16:33
  Speaker 3: those horses look so fancy their jackets.
• 16:35
  Speaker 4: Today and even more fun on their babies.
• 16:37
  Speaker 3: Your mummy made you look so nice today.
• 16:39
  Speaker 6: That is so cute.
• 16:41
  Speaker 3: I am so lame.
• 16:43
  Speaker 7: Something that's cute is made so much cute that when
• 16:46
  Speaker 7: someone talks to it in such like a little like
• 16:48
  Speaker 7: oh yeah, it's like your dog voice.
• 16:50
  Speaker 6: It's so cute.
• 16:51
  Speaker 3: You can't have your normal voice when talking to an
• 16:54
  Speaker 3: I don't think they understand. They don't understand before.
• 16:58
  Speaker 7: Yeah, and then my tip, my friend sent me a
• 17:01
  Speaker 7: link the other day and she said, oh my god,
• 17:02
  Speaker 7: you should sign up for Andy Lee's one.
• 17:04
  Speaker 6: Hundred and you get one hundred dollars. And I haven't
• 17:07
  Speaker 6: got one hundred dollars yet. I saw someone who did it.
• 17:09
  Speaker 3: Did you do it? I'm sorry Sandy Lee starting a
• 17:12
  Speaker 3: Ponzi scheme?
• 17:13
  Speaker 6: Yeah, I think so. But no, I don't know if
• 17:15
  Speaker 6: you guys have seen. It's like it's on very late
• 17:16
  Speaker 6: at night. I mean maybe it's not, but everything feels
• 17:18
  Speaker 6: late to me.
• 17:19
  Speaker 7: But he does this show where he asks one hundred
• 17:24
  Speaker 7: people like you can't you kind of joined via zoom
• 17:26
  Speaker 7: is the vibe and then you're like a few guests
• 17:29
  Speaker 7: and they ask a question like how many of you
• 17:31
  Speaker 7: pick your nose?
• 17:32
  Speaker 4: You know what I mean?
• 17:33
  Speaker 6: Something like that for example, and you just have to
• 17:34
  Speaker 6: join zoom.
• 17:35
  Speaker 7: You're on the show, but like you're very you can't
• 17:38
  Speaker 7: even you're not even noticeable, you know what I mean,
• 17:40
  Speaker 7: because you're among a hundred other faces or ninety nine
• 17:42
  Speaker 7: other faces, I should say. And then yeah, so I
• 17:44
  Speaker 7: signed up, Yeah, we all signed up, and we haven't
• 17:46
  Speaker 7: got one hundred dollars yet, but I think you're you
• 17:49
  Speaker 7: gonna be on the show. I haven't heard back, but
• 17:51
  Speaker 7: so I think, yeah, I think you do need to
• 17:53
  Speaker 7: actually make it onto the show.
• 17:54
  Speaker 3: I would assume that, Yeah, I would assume if you
• 17:55
  Speaker 3: go on the show you get paid one hundred dollars,
• 17:57
  Speaker 3: because that makes sense. Otherwise it's a three hundred dollars.
• 17:59
  Speaker 3: And then I'm like, Andy Lee, we got a chatter
• 18:01
  Speaker 3: you're running a Konzi scheme. If so, how do I
• 18:03
  Speaker 3: get in?
• 18:04
  Speaker 7: But I just think it's such a because the chances
• 18:06
  Speaker 7: of being picked, you're just like you're just a random
• 18:08
  Speaker 7: face on a random screen.
• 18:09
  Speaker 6: Of course you're gonna be picked.
• 18:10
  Speaker 4: But that now that.
• 18:11
  Speaker 3: Broke people money went to expand on that you can
• 18:13
  Speaker 3: like sign up for TV shows to be in the audience.
• 18:16
  Speaker 3: I remember one time I was this is so first world,
• 18:19
  Speaker 3: but I was overseas so I couldn't go. But Gabby
• 18:22
  Speaker 3: and I, who used to work here, we signed up
• 18:24
  Speaker 3: because we were like, we want to go and be
• 18:26
  Speaker 3: in the audience of Thank God you're here, it's so good.
• 18:30
  Speaker 3: And we signed up and then they said the tickets
• 18:33
  Speaker 3: weren't transferable, but I wasn't in the country, and Gabby's like, oh, well,
• 18:37
  Speaker 3: it's you've got a ticket, and I've got a ticket.
• 18:39
  Speaker 3: And then her friend pretended to be Victoria, so if
• 18:42
  Speaker 3: anyone ran into Victoria, I thank god you're here, it
• 18:46
  Speaker 3: wasn't me.
• 18:48
  Speaker 6: That would be so fun to watch.
• 18:49
  Speaker 3: Yeah, I was really envious because that's one of the
• 18:51
  Speaker 3: shows I've watched since I was teeny tiny, and I
• 18:53
  Speaker 3: just feel like that would be a fun show to
• 18:56
  Speaker 3: be in the audience off where some other shows might
• 18:59
  Speaker 3: be like a little bit boring, but that could be
• 19:01
  Speaker 3: a fun date night. Sign up for all these shows, and.
• 19:03
  Speaker 4: The Taskmaster, I reckon would be.
• 19:07
  Speaker 6: But you're not there for the task. You're just there
• 19:09
  Speaker 6: for them watching their task, and then.
• 19:10
  Speaker 4: They do the live task the live task Yes, true,
• 19:13
  Speaker 4: I love that would be cool.
• 19:15
  Speaker 3: Can we run She's on the money task Master?
• 19:17
  Speaker 5: Oh?
• 19:18
  Speaker 4: That would be fun, so fun.
• 19:20
  Speaker 3: I feel like that would be a good YouTube series.
• 19:22
  Speaker 4: It would be a good YouTube series. You would both
• 19:24
  Speaker 4: suck because.
• 19:26
  Speaker 3: Because because the adhd of at all, all.
• 19:29
  Speaker 5: The information you need is in the task You can't
• 19:32
  Speaker 5: even the amount of times that whoever was hosting would
• 19:34
  Speaker 5: have to say that to you too.
• 19:36
  Speaker 3: Hold on so true, Jess. You were able to get
• 19:40
  Speaker 3: out of escape rooms, aren't you?
• 19:41
  Speaker 4: I love an escape room?
• 19:43
  Speaker 3: Have you ever successfully escaped an escape room?
• 19:46
  Speaker 1: No?
• 19:46
  Speaker 3: Yeah, neither.
• 19:48
  Speaker 4: Everything feels like I'm going but she's on.
• 19:50
  Speaker 3: The money, She's on the money task Master would be
• 19:54
  Speaker 3: very fun.
• 19:55
  Speaker 6: Well, we'll work shop, we'll come back to them.
• 19:57
  Speaker 3: How do we marry? She's on the money task Master?
• 20:00
  Speaker 3: But like somehow with money and budgeting and maths tips easy? Well,
• 20:05
  Speaker 3: producer was used to work in TV. Hey, emma, emma
• 20:09
  Speaker 3: help some more work anyway? All right, that sounds really good.
• 20:14
  Speaker 6: That's it from my end. I love that I have
• 20:17
  Speaker 6: to go to a break.
• 20:18
  Speaker 3: We have to talk about task Master a little bit more,
• 20:20
  Speaker 3: and after the break we're going to help answer a
• 20:22
  Speaker 3: money dilemma, which this week is all about asking, how
• 20:25
  Speaker 3: do you know if you're buying a property at the
• 20:27
  Speaker 3: market peak and something that you slid into our dms
• 20:30
  Speaker 3: about what do you do if your partner's forty grand
• 20:32
  Speaker 3: in debt but doesn't seem to be in any type
• 20:34
  Speaker 3: of hurry to pay it off? Don't go anywhere?
• 20:40
  Speaker 4: Welcome back, everybody. Let's take a listen to this week's
• 20:43
  Speaker 4: money dilemma.
• 20:46
  Speaker 8: Hi.
• 20:46
  Speaker 9: There, have you got a money dilemma you just can't solve?
• 20:49
  Speaker 9: The Sheese on the Money Team is here to help.
• 20:51
  Speaker 9: Every week we tackle your dilemmas, both big and small,
• 20:55
  Speaker 9: to answer your most burning money.
• 20:56
  Speaker 3: Career and life questions.
• 20:58
  Speaker 9: To get involved, simply head to our and leave us
• 21:00
  Speaker 9: a short voice recording and you might just find yourself
• 21:03
  Speaker 9: on the show. Now, let's take a listen to this
• 21:05
  Speaker 9: week's money dilemma.
• 21:10
  Speaker 8: Hi, She's on the Money Team. I'm trying really hard
• 21:13
  Speaker 8: to break into the Brisbane property market, but wow, prices,
• 21:17
  Speaker 8: especially hey units have gone through the roof. I recently
• 21:21
  Speaker 8: read on domain that prices are now at levels that
• 21:23
  Speaker 8: would have been laughable a few years ago, which is
• 21:26
  Speaker 8: so true. I'm currently priced out of everything except for
• 21:29
  Speaker 8: the cheapest suburbs. But here's the catch. Those suburbs are
• 21:32
  Speaker 8: now being flagged as potentially overvalued too. How do I
• 21:36
  Speaker 8: figure out if I'm buying at the peak of the market.
• 21:40
  Speaker 8: I get that Brisbane's growth is likely to continue with
• 21:43
  Speaker 8: the Olympics coming, but I'm terrified of making a bigger
• 21:46
  Speaker 8: money mistake, but also scared of being completely pushed out
• 21:50
  Speaker 8: of the property game.
• 21:51
  Speaker 3: Does not make sense, all right, I have a lot
• 21:53
  Speaker 3: of thoughts and feelings. Beck, how do you know if
• 21:55
  Speaker 3: you're buying in the market peak?
• 21:57
  Speaker 7: I'm the perfect person to ask, because Hi, she's a
• 22:00
  Speaker 7: property kind of kind of sewer. Honestly, I would not
• 22:06
  Speaker 7: have a single clue.
• 22:08
  Speaker 6: I don't know. I don't know anything about property. I
• 22:10
  Speaker 6: don't I am they do, and.
• 22:11
  Speaker 3: Good you get it getting rentals.
• 22:13
  Speaker 6: I'm really good to getting rentals, But that's I don't know.
• 22:15
  Speaker 9: I don't.
• 22:16
  Speaker 3: I fear that.
• 22:16
  Speaker 6: That's probably not going to be helpful.
• 22:19
  Speaker 7: But also I do know that, like there are some
• 22:22
  Speaker 7: rentals where like people are just kind of like they're
• 22:25
  Speaker 7: sticking to the market whatever the average is in the area,
• 22:28
  Speaker 7: but they're not fixing up the house. So I don't
• 22:30
  Speaker 7: like I'm just gonna go for whatever. I'd never looking
• 22:32
  Speaker 7: for the best property, and like, am I paying too much?
• 22:36
  Speaker 6: I just I know I'm paying too much? And what
• 22:37
  Speaker 6: can I do about it? Nothing?
• 22:38
  Speaker 7: So I'm probably the best person asked, But I guess
• 22:41
  Speaker 7: I would just think about what, like lifestyle wise, which
• 22:44
  Speaker 7: is not this is not financial advice at all obviously,
• 22:46
  Speaker 7: but like lifestyle wise, do I want to be living
• 22:49
  Speaker 7: out further?
• 22:50
  Speaker 4: Are you in.
• 22:51
  Speaker 6: A mad rush right now?
• 22:52
  Speaker 7: I know what you mean by like, if you wait,
• 22:54
  Speaker 7: you're gonna be like completely pushed out of the game altogether. God,
• 22:58
  Speaker 7: I don't know what I would do, but I probably
• 23:00
  Speaker 7: would prioritize lifestyle and I would be like, well, if
• 23:02
  Speaker 7: I can't afford to buy or live where I want to,
• 23:05
  Speaker 7: where it's close to my community, close to my friends,
• 23:07
  Speaker 7: I'm going to rent forever.
• 23:09
  Speaker 6: And that's me.
• 23:10
  Speaker 4: That's not fair.
• 23:11
  Speaker 3: That's call miss jessci. What are we looking at?
• 23:14
  Speaker 4: There? So a few things you can look at.
• 23:15
  Speaker 5: You can look at auction clearance rates is normally a
• 23:17
  Speaker 5: pretty good indicator if your clearance rates are decently high.
• 23:20
  Speaker 4: What do I mean?
• 23:21
  Speaker 2: So?
• 23:21
  Speaker 5: Clearance rate is how what percentage of houses sell at auction?
• 23:24
  Speaker 3: Just because of house goes for auction doesn't mean it
• 23:26
  Speaker 3: gets brought. Yes, So every week, like real estate dot
• 23:30
  Speaker 3: com dot UU and domain dot com dot U published
• 23:33
  Speaker 3: data and say, of one hundred percent of the auctions
• 23:36
  Speaker 3: that went ahead, fifty seven percent of those properties sold.
• 23:40
  Speaker 3: And the higher that percentage, the more market appetite there
• 23:43
  Speaker 3: is to purchase.
• 23:44
  Speaker 6: I see.
• 23:45
  Speaker 4: So auction clearance rates are good indicator.
• 23:47
  Speaker 5: If not a lot of houses are selling, it's probably
• 23:48
  Speaker 5: a good indication that either people can't afford them, they're
• 23:51
  Speaker 5: priced out, expectations are too high, and so you might
• 23:54
  Speaker 5: see like a little bit of a backslide. I will
• 23:56
  Speaker 5: say that like historically, as much as we talk about
• 23:59
  Speaker 5: the peak of the market, prices haven't really dropped, so
• 24:03
  Speaker 5: to speak, Like they've kind of just increased at a
• 24:07
  Speaker 5: slower pace at least in the last like maybe five
• 24:10
  Speaker 5: to ten years. Even during COVID, there was like a
• 24:12
  Speaker 5: prediction that there would be a huge troth and like, yes,
• 24:16
  Speaker 5: like things absolutely did dip out during COVID, although I
• 24:19
  Speaker 5: think that's really an extenuating circumstance, but there is predictions
• 24:22
  Speaker 5: that there would be a secondary drop in the years
• 24:24
  Speaker 5: following that just didn't happen. So I don't know that
• 24:28
  Speaker 5: like looking at the peak of the market, so to speak,
• 24:31
  Speaker 5: is the most helpful. Think it's kind of like investing right,
• 24:34
  Speaker 5: like you can try and time it, but like if
• 24:37
  Speaker 5: you actually knew how to time it, it'd be so
• 24:39
  Speaker 5: rich correct. So I would more so be looking at
• 24:42
  Speaker 5: like I think the sooner the better. Just based purely
• 24:46
  Speaker 5: on my personal experience, I think that if I had
• 24:49
  Speaker 5: bought three years ago for something that I just could afford,
• 24:53
  Speaker 5: I think I arguably would be in a stronger financial position.
• 24:56
  Speaker 4: And so I think.
• 24:57
  Speaker 5: Rather than trying to go, Okay, well, what's the best
• 25:00
  Speaker 5: time in the market for me to make this purchase?
• 25:03
  Speaker 4: Can I afford it? Is it somewhere I want to
• 25:05
  Speaker 4: buy it?
• 25:05
  Speaker 5: So I would actually be looking at the data of
• 25:07
  Speaker 5: the suburbs that you're saying you can afford to buy in.
• 25:10
  Speaker 5: Is that a good purchase for you and your goals?
• 25:12
  Speaker 5: More so than going is it a good time for
• 25:15
  Speaker 5: me to purpose?
• 25:16
  Speaker 4: I agree? But you don't think if.
• 25:18
  Speaker 3: Anyone's qualified to speak on this, as you BiDi find
• 25:21
  Speaker 3: my names Victoria Divine, and I own a mortgage broking business,
• 25:25
  Speaker 3: so I talk to people about this literally every single day.
• 25:28
  Speaker 3: And my answer is we do not care. And I
• 25:31
  Speaker 3: mean that in the nicest possible way. If you are
• 25:35
  Speaker 3: buying your home and you're a long term investor, we
• 25:39
  Speaker 3: aren't looking for the peak or the troughs. We're not
• 25:41
  Speaker 3: looking for it to come off. You're going to hear
• 25:43
  Speaker 3: stories about people who bought in, like the dips in
• 25:46
  Speaker 3: the market during COVID, You're going to hear all of
• 25:48
  Speaker 3: this right, and that is going to distract you. All
• 25:51
  Speaker 3: I want to know is have you spoken to your broker?
• 25:54
  Speaker 3: Can you service this loan? Are you comfortable with that?
• 25:57
  Speaker 3: Desperation adds this additional layer of complexity which might make
• 26:02
  Speaker 3: you make decisions that aren't in line with your long
• 26:04
  Speaker 3: term values. And you might be like, oh my god,
• 26:06
  Speaker 3: but we need to get in right now, and then
• 26:07
  Speaker 3: three years down the track you're like, we really just
• 26:10
  Speaker 3: like shotgun purchase that house because we were desperate, as
• 26:13
  Speaker 3: opposed to actually looking at our financial circumstances. The best
• 26:17
  Speaker 3: time to buy an investment, the best time to buy
• 26:21
  Speaker 3: a property is the time that it makes financial sense
• 26:25
  Speaker 3: to you.
• 26:25
  Speaker 4: It's the time that you sit down and you.
• 26:27
  Speaker 3: Have your deposit comfortably, You've got your buffer comfortably. You
• 26:30
  Speaker 3: are happy to take on that loan, You are happy
• 26:32
  Speaker 3: with how much those mortgage repayments are going to be.
• 26:35
  Speaker 3: It's not about timing the market or waiting for an
• 26:37
  Speaker 3: interest rate drop, because you know what, you're not the
• 26:40
  Speaker 3: only person thinking that. And I think I've had to
• 26:42
  Speaker 3: dispel over the last couple of months a lot of
• 26:44
  Speaker 3: conversation with clients where they go, we're just going to
• 26:47
  Speaker 3: wait for the next rate cut, and I go, that's fantastic.
• 26:50
  Speaker 3: Do you really think that you are the only first
• 26:53
  Speaker 3: home buyer that is waiting for the rate to drop?
• 26:55
  Speaker 3: And do you know what happens when the rate drops,
• 26:57
  Speaker 3: and that's why you're wanting to wait, is the rate drop.
• 27:00
  Speaker 3: And the last rate drop as of recording was a
• 27:03
  Speaker 3: point two five percent basis drop. So that means that
• 27:06
  Speaker 3: the interest rate in Australia, or the cash rate in
• 27:08
  Speaker 3: Australia went to three point six zero percent. That means
• 27:13
  Speaker 3: off the last rate cut that we had, if you
• 27:15
  Speaker 3: had a million dollar mortgage, you're probably saving about one
• 27:18
  Speaker 3: hundred dollars a month, and off a five hundred thousand
• 27:21
  Speaker 3: dollars mortgage, it's probably cutting fifty bucks off a month.
• 27:24
  Speaker 3: So that is a good amount of money, like not
• 27:26
  Speaker 3: something to sneeze at. But on the flip side, if
• 27:29
  Speaker 3: you haven't purchased yet, you actually have an increased amount
• 27:32
  Speaker 3: of borrowing power because the bank goes, oh, with that
• 27:35
  Speaker 3: same deposit, you can actually borrow more money because the
• 27:38
  Speaker 3: money to borrow is cheaper, and you go, that's a
• 27:40
  Speaker 3: money win. But when money is cheaper, and let's pretend Jess,
• 27:44
  Speaker 3: you're in the market to purchase, you currently have a
• 27:47
  Speaker 3: budget of five hundred thousand dollars, which is a very
• 27:49
  Speaker 3: normal first home buyer's budget, right, And you say to
• 27:52
  Speaker 3: me the I'm going to wait for the next rate
• 27:54
  Speaker 3: cut or I'm going to wait for the market to
• 27:55
  Speaker 3: come off. Every other first home buyer that is in
• 27:59
  Speaker 3: the mund market that is saying that is your competition, right,
• 28:03
  Speaker 3: And so say you wait for the rate cut, and
• 28:05
  Speaker 3: then your broker calls you and goes, great, Jess, like,
• 28:07
  Speaker 3: you know, we had your pre approval at five hundred thousand,
• 28:09
  Speaker 3: but now it's actually five hundred and twenty thousand dollars
• 28:12
  Speaker 3: because of the rate cut.
• 28:13
  Speaker 4: Money win.
• 28:14
  Speaker 3: You're now going shopping and have twenty thousand dollars extra
• 28:17
  Speaker 3: to spend at every single auction you go to, I
• 28:19
  Speaker 3: promise you will cap that out if you are desperate.
• 28:22
  Speaker 3: So will every other first home buyers. So instead of
• 28:25
  Speaker 3: that house going for twenty thousand dollars less, we all
• 28:28
  Speaker 3: have a little bit of free extra money to push
• 28:31
  Speaker 3: that auction up a little bit more. So you will
• 28:33
  Speaker 3: often see with rate cuts increases in property value, but
• 28:38
  Speaker 3: that's just because there's more cash floating around for the
• 28:40
  Speaker 3: economy to spend, not because oh there's more demand for them.
• 28:44
  Speaker 3: You cannot predict this stuff, so like kind of put
• 28:47
  Speaker 3: some blinkers on when you're buying property and I know
• 28:49
  Speaker 3: that I go do your research, keep your eyes open
• 28:51
  Speaker 3: when it comes to your budget and the market.
• 28:54
  Speaker 4: You can't time it.
• 28:55
  Speaker 3: Yes, if you are an investor purchase, that's probably where
• 29:00
  Speaker 3: a little bit more consideration. Like if Jess came to
• 29:02
  Speaker 3: me and said, got five hundred thousand dollars. I want
• 29:04
  Speaker 3: to buy an apartment and I want to or a house,
• 29:07
  Speaker 3: or I want to buy something and the plan is
• 29:09
  Speaker 3: to purchase it with a short term horizon, and I
• 29:12
  Speaker 3: would like to have it on just interest only, and
• 29:15
  Speaker 3: I'm hoping that in five years I can sell that
• 29:17
  Speaker 3: property because I would have gained some equity in it,
• 29:20
  Speaker 3: and like, that's how I'm planning on making money. That's
• 29:22
  Speaker 3: when we start to care a lot more about what
• 29:24
  Speaker 3: the market's doing and you know what it looked like
• 29:27
  Speaker 3: over the last ten years. But if you're purchasing your
• 29:29
  Speaker 3: family home, yeah, it's important to be across it. We
• 29:31
  Speaker 3: don't want to be ripped off. We don't want to
• 29:33
  Speaker 3: be overpaying, like that's not our journey. But we are
• 29:36
  Speaker 3: also not trying to time the market, because if you're
• 29:39
  Speaker 3: trying to time the market with everybody else, I can
• 29:42
  Speaker 3: promise you that you're not putting yourself in the best
• 29:44
  Speaker 3: possible position, and also not to throw misstrescotta eachy under
• 29:48
  Speaker 3: a bus. But I can almost guarantee that she wishes
• 29:51
  Speaker 3: she put just like pulled the trigger and bought it
• 29:53
  Speaker 3: a time without putting blinkers on, like or had a
• 29:56
  Speaker 3: few more blinkers on at the start of her journey,
• 29:58
  Speaker 3: because it would have been financially benefit. But you also
• 30:01
  Speaker 3: just don't know what you don't know, kinds.
• 30:03
  Speaker 4: It's twenty twenty. Absolutely should we get into this SEXUCDM?
• 30:06
  Speaker 3: Absolutely? So this week we got a DM and it said, hey,
• 30:10
  Speaker 3: she's on the money. My partner currently has around forty
• 30:12
  Speaker 3: thousand dollars worth of debt accumulated and it's in the
• 30:15
  Speaker 3: process of consolidating it and also isn't currently adding any
• 30:19
  Speaker 3: additional debt. Although they are coming up with a plan
• 30:22
  Speaker 3: to console the date, they have no desire to actually
• 30:24
  Speaker 3: pay it off quickly or be out of debt at
• 30:26
  Speaker 3: any point. They believe it's just part of life. I
• 30:29
  Speaker 3: feel quite the opposite. I've never had debt and I
• 30:32
  Speaker 3: am quite good at saving. I'm nervous about when the
• 30:34
  Speaker 3: time comes where we might join finances. They've mentioned that
• 30:38
  Speaker 3: they always keep their debt separate to me. However, I'm
• 30:41
  Speaker 3: not sure it works that seamlessly. Would love some advice
• 30:45
  Speaker 3: and thoughts from the community. What would you do?
• 30:48
  Speaker 6: Yeah, I'm not too sure how debt works when like.
• 30:52
  Speaker 3: Has become your debt Like okay, unless your name's on it,
• 30:55
  Speaker 3: it doesn't become yours. But like, if my husband had
• 30:58
  Speaker 3: debt and I didn't have debt, and we have shared
• 31:00
  Speaker 3: financial goals, that's now a burden on me totally. I
• 31:03
  Speaker 3: want to help pay off because I'm like, well, I
• 31:06
  Speaker 3: can't buy house, or I can't do anything, or I
• 31:07
  Speaker 3: can't go on a holiday until that's gone. So totally
• 31:10
  Speaker 3: it comes a burden of yours in the relationship rather
• 31:13
  Speaker 3: than a burden of yours long term.
• 31:14
  Speaker 6: Absolutely, so like yeah, in like an indirect way, definitely.
• 31:17
  Speaker 7: Still, I guess if the loan repayment amount is not
• 31:23
  Speaker 7: a giant chunk of like, if it's not like really
• 31:26
  Speaker 7: really impacting your day to day, I can kind of
• 31:28
  Speaker 7: understand that feeling of like, oh, like I'm not super
• 31:31
  Speaker 7: worried if it was like HEX. I know it's different,
• 31:33
  Speaker 7: but like Hex, I'm never thinking about Hex, and I
• 31:36
  Speaker 7: know this is very very different to HEX, but I'm
• 31:38
  Speaker 7: thinking if it's like a drop in the ocean. On
• 31:41
  Speaker 7: the one hand, you'd be like, oh, if it's a
• 31:42
  Speaker 7: drop in the ocean, then like quickly paid off, so
• 31:44
  Speaker 7: you need to have to think about it. But on
• 31:46
  Speaker 7: the other hand, it's a drop in the ocean, I'm
• 31:48
  Speaker 7: not in a rush. I'm just paying that slowly. I
• 31:50
  Speaker 7: don't want it to like impact three four months for example,
• 31:53
  Speaker 7: of like paying this thing off heaps and just like
• 31:55
  Speaker 7: kind of living tight and on a budget for that
• 31:58
  Speaker 7: time while you paid off. I guess like if you
• 32:01
  Speaker 7: have a chat and crazy communication is key here but.
• 32:06
  Speaker 3: Wow, I'm glad that has come up. It never comes up, and.
• 32:10
  Speaker 7: If you have a chat about it and you kind
• 32:13
  Speaker 7: of realize that like the likelihood of it impacting you
• 32:15
  Speaker 7: either directly or indirectly, Like yeah, let's say you want
• 32:18
  Speaker 7: to go on a holiday or you want to buy
• 32:20
  Speaker 7: a house together or something, and it's like like if
• 32:22
  Speaker 7: you look at it and you're like, can you see
• 32:24
  Speaker 7: how this debt will impact that directly? And maybe that's
• 32:28
  Speaker 7: just all it takes, like just like the actual like
• 32:30
  Speaker 7: showing someone how while it doesn't seem like anything, while
• 32:34
  Speaker 7: it just kind of seems like it's happening in the background,
• 32:36
  Speaker 7: how it could impact your day to day life. I
• 32:38
  Speaker 7: guess because I have someone in debt that I can
• 32:40
  Speaker 7: understand two different sides with it, So I think you're
• 32:43
  Speaker 7: just communication.
• 32:45
  Speaker 4: It's just a yeah, I folutely agree.
• 32:47
  Speaker 5: I think like it it sounds like you just need
• 32:49
  Speaker 5: to have a conversation. I think pointing out to them,
• 32:52
  Speaker 5: as you said, like how that will impact your future
• 32:54
  Speaker 5: goals because it's not about the fact that they have debt,
• 32:57
  Speaker 5: Like people can accumulate deb for a whole host of reasons,
• 33:00
  Speaker 5: and you know it's up to us to do with
• 33:02
  Speaker 5: that as we will, but pointing out the fact that, well,
• 33:04
  Speaker 5: if we wanted to buy a house together, or if
• 33:06
  Speaker 5: we wanted to have children, or if we wanted to
• 33:08
  Speaker 5: do your take on any kind of significant financial undertaking,
• 33:12
  Speaker 5: you already carrying debt inhibits your ability to contribute to
• 33:16
  Speaker 5: that might inhibit our ability to borrow money for a
• 33:19
  Speaker 5: big goal like purchasing a house, all those sorts of things.
• 33:23
  Speaker 5: I think it's really important to be on the same
• 33:25
  Speaker 5: page because I think if you have one person who
• 33:27
  Speaker 5: is very like I don't care about the debt, I'm
• 33:29
  Speaker 5: happy to let it hang out there forever, and one
• 33:32
  Speaker 5: person who's very driven and very like I want to
• 33:35
  Speaker 5: buy house, I want to go on a holiday, I
• 33:36
  Speaker 5: want to do this that the other, I think there
• 33:38
  Speaker 5: is potential for them to be conflict there down the track.
• 33:41
  Speaker 5: So I do think it's important that you address it
• 33:44
  Speaker 5: and both of you hear each other out. As you said,
• 33:46
  Speaker 5: people are entitled to have different opinions and perspectives, and
• 33:48
  Speaker 5: there's no right or wrong. But I think that when
• 33:51
  Speaker 5: it can start to impact the things that you're trying
• 33:53
  Speaker 5: to build together, that's when it has the potential to
• 33:56
  Speaker 5: become a problem. So I think, yeah, you're absolutely right.
• 33:58
  Speaker 5: It's just about having a conversation, you explaining how you
• 34:01
  Speaker 5: feel out the impacts them, explaining why it might not
• 34:03
  Speaker 5: be a.
• 34:04
  Speaker 4: Priority to them, planning out what.
• 34:06
  Speaker 5: You want to do and how you know that might
• 34:08
  Speaker 5: overlay or underlay underneath you know, the things that already exist,
• 34:13
  Speaker 5: and kind of go from there. But I think it
• 34:14
  Speaker 5: is important to address sooner than later, because if you
• 34:18
  Speaker 5: leave it, I think it has the potential to be
• 34:20
  Speaker 5: a bigger deal, where right now you're in a position
• 34:22
  Speaker 5: where it doesn't need to be.
• 34:25
  Speaker 3: Yeah, And it's rough because that's just telling me you're
• 34:27
  Speaker 3: not on the same page. Yeah, and you clearly want
• 34:30
  Speaker 3: to be on the same page. So it's not about
• 34:32
  Speaker 3: how they accumulated the debt. It's about prioritizing that and
• 34:35
  Speaker 3: your future financial goals. And I think that just even
• 34:38
  Speaker 3: talking to them about like you're aware of like how
• 34:41
  Speaker 3: detrimental this debt is.
• 34:42
  Speaker 4: It's not just.
• 34:43
  Speaker 3: Like you've got debt, great, but it's also like the
• 34:46
  Speaker 3: exact opposite of compound interest, Like the longer you have it,
• 34:49
  Speaker 3: the more you're paying off. Yes, you're in forty thousand
• 34:52
  Speaker 3: dollars worth of debt, But how much is that going
• 34:54
  Speaker 3: to cost you? Probably fifty two to sixty thousand dollars
• 34:57
  Speaker 3: to pay it off, Like people don't look at how
• 35:00
  Speaker 3: financially impactful that is. And like your situation back at
• 35:04
  Speaker 3: the moment, and I know you've been through a lot
• 35:05
  Speaker 3: of debt. With a payment plan on something like fines
• 35:08
  Speaker 3: is a bit different to a debt that's carrying a
• 35:10
  Speaker 3: lot of interest, So like I can see why you
• 35:13
  Speaker 3: might go, it's sixty bucks a month and you know what,
• 35:15
  Speaker 3: it just takes along, Whereas if there was a significant
• 35:18
  Speaker 3: interest charge payable on that, I'd be like, well, actually, yeah,
• 35:21
  Speaker 3: it feels like that in the moment, but ultimately it's
• 35:24
  Speaker 3: putting you behind and that you know, thousand dollars you own,
• 35:27
  Speaker 3: it's actually two and a half thousand dollars, and like
• 35:29
  Speaker 3: that is not cool because I'm pretty sure you would
• 35:31
  Speaker 3: want fifteen hundred bucks in your back pocket. So I
• 35:34
  Speaker 3: think it's about contextualizing it and going, do you actually
• 35:37
  Speaker 3: know what this means for us? Like and not being
• 35:40
  Speaker 3: able to do things, And I just think it's it's
• 35:43
  Speaker 3: really hard, but it's all about getting on the same page. Now,
• 35:46
  Speaker 3: we did ask the community. We asked a couple of questions. First,
• 35:49
  Speaker 3: we said, how do you feel about this sort of debt?
• 35:50
  Speaker 3: And ninety two percent said I'm exactly the same as her.
• 35:53
  Speaker 3: An eight percent said I actually agree with her partner.
• 35:56
  Speaker 3: We then asked, how would you feel if your partner
• 35:58
  Speaker 3: had forty thousand dollars in personal debt and wasn't in
• 36:00
  Speaker 3: a rush to pay it off. Fifty seven percent said
• 36:03
  Speaker 3: I'd be stressing about our money future, Twenty three percent
• 36:06
  Speaker 3: said I'd need a payoff plan from my partner. Eleven
• 36:10
  Speaker 3: percent said this is actually a deal breaker for me.
• 36:12
  Speaker 3: A nine percent said it's their money, it's their choice,
• 36:16
  Speaker 3: which is all fair and good and reasonable. We then said, well,
• 36:19
  Speaker 3: what's your two cents we want to know? First person said,
• 36:22
  Speaker 3: you need to explain. Hey, this person's on my page.
• 36:24
  Speaker 3: First person said, you need to explain the money saved
• 36:27
  Speaker 3: in interest by paying it off faster and using that
• 36:29
  Speaker 3: money for a fun goal. Another person said I was
• 36:32
  Speaker 3: in the same situation and I actually gave my partner
• 36:35
  Speaker 3: an ultimatum, you let me help you sort this out
• 36:38
  Speaker 3: or I'm gone. We are going on ten years strong.
• 36:41
  Speaker 4: Wow.
• 36:42
  Speaker 3: Next person said, you can't control how other people choose
• 36:44
  Speaker 3: to live, but I would not be marrying them. Next
• 36:48
  Speaker 3: person said, if your money values can't align now, it'll
• 36:51
  Speaker 3: only get exasperated later in life with weddings and kids
• 36:54
  Speaker 3: and your bigger family goals. Another person said, don't combine finances.
• 36:59
  Speaker 3: You need to be managed things separately until they aren't
• 37:01
  Speaker 3: in any debt. Another person said the reality is that
• 37:04
  Speaker 3: if they are paying off debt, that's money that's not
• 37:07
  Speaker 3: going into the relationship and making it better. And the
• 37:09
  Speaker 3: last person said, you can't really keep debt that separate
• 37:12
  Speaker 3: if you're planning on getting married or plan to apply
• 37:15
  Speaker 3: for a home loan together in the future, which is true.
• 37:17
  Speaker 4: I think yeah.
• 37:19
  Speaker 3: I just think it is impactful for your future. Whether
• 37:22
  Speaker 3: you care about it or not is a different story.
• 37:24
  Speaker 3: But being on the same page as your partner is
• 37:26
  Speaker 3: really important.
• 37:27
  Speaker 5: True.
• 37:27
  Speaker 4: I couldn't agree more. Oh wow, communication, that's so crazy.
• 37:31
  Speaker 3: Place to leave it, guys, I hope you have had
• 37:33
  Speaker 3: a really beautiful week. We'll see you brighten early on
• 37:36
  Speaker 3: Monday morning for a money diary, but until then, have
• 37:38
  Speaker 3: a beautiful weekend.
• 37:39
  Speaker 4: By guys.
• 37:40
  Speaker 3: Bye.
• 37:46
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• 37:49
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• 37:53
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