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Should You Invest While You're Still In Debt? And an Early Inheritance Dilemma · She's On The Money

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Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
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Speaker 1: woman and I'm here to acknowledge country t Glenn Young
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Speaker 1: Ganya Niana, kaka ya Ya beIN Ahaka nian Ar gay
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Speaker 1: In Mbina, yak um Jar, Dominyama, Domagahawakaman, damon Imlan Wimer
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Speaker 1: bang gadabomba In and now in wakah ghana On yakram
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Speaker 1: jar Watnadaa. Hello, beautiful friends, we gather on the lands
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Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
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Speaker 1: Aberiginal people's land that we're gathering on today. Take pleasure
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Speaker 1: in all the land and respect all that you see.
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Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
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Speaker 1: bringing you the tools, knowledge and resources for you to thrive.
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Speaker 2: She's on the Money. She's on the Money. Hello and
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Speaker 2: welcome to She's on the Money, the podcast that makes
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Speaker 2: personal finance less scary. This Halloween, It's also Friday, our
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Speaker 2: favorite day of the week because we get the team
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Speaker 2: together and we get to celebrate you the incredible She's
1:27
Speaker 2: on the Money community, who are arguably a lot less
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Speaker 2: spooky than Halloween. Miss Jess Gricci. She's going to be
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Speaker 2: sharing our favorite money wins. Beck is back and she'll
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Speaker 2: be sharing her broke tips, and we'll be helping to
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Speaker 2: answer our money dilemma, which is all about whether you
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Speaker 2: should prioritize investing when you have debt and something that
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Speaker 2: you slid into our dms about this week, whether you
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Speaker 2: should give back an early inheritance when your parents are
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Speaker 2: now struggling, which I think is going to be rough.
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Speaker 2: So you guys know that Friday Drinks episodes, I would
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Speaker 2: say they're a little bit chaotic times and I always
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Speaker 2: ask my team how is your week? But I'm not
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Speaker 2: doing that. I'm not doing that. I don't care about
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Speaker 2: you week. Oh oh no, no I do, I do.
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Speaker 2: I already asked you though, so I already know, but
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Speaker 2: I really want to add something different and take that
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Speaker 2: time and then use it more effectively. Right, So we're
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Speaker 2: going to give you the chance to ask the team
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Speaker 2: one thing you want to know money life advice hot
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Speaker 2: takes literally anything, and then we're going to answer it
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Speaker 2: on the show. And because it is Halloween and it
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Speaker 2: is so Spookie, I thought i'd kick it off with
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Speaker 2: a spooky question from me because then I'm hoping that
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Speaker 2: our community dm us questions that they want to know
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Speaker 2: the answers to from Beck and Jess. I want to
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Speaker 2: know what is your scariest social money nightmare? Oo, Do
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Speaker 2: you have one ready to go that you would like
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Speaker 2: to Yes.
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Speaker 3: I feel like for me, it's all about I know
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Speaker 3: we've showed out this in the share before, but it's
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Speaker 3: the having to follow people up for money.
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Speaker 2: Oh yeah, I am.
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Speaker 3: I'm totally happy to do it once because I think
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Speaker 3: we all forget right, Like I have absolutely gone to
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Speaker 3: transfer people money when I've owed them for like dinner
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Speaker 3: or something like that.
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Speaker 2: But you're like wholesome, So if I was to ever
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Speaker 2: follow you up, I think you'd be like, oh my god, sorry,
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Speaker 2: here it is immediately. It's not evasive totally.
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Speaker 3: I think my worst nightbrary is being on the end
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Speaker 3: where like somebody owes me a lot of money that
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Speaker 3: I then need to.
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Speaker 2: Chase because I think I feel, you know, you feel guilty.
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Speaker 3: About it, but then you need the money or you
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Speaker 3: want the money. I feel like the stress of just
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Speaker 3: like having to follow someone up a lot is very
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Speaker 3: uncomfortable to me, and again, like, thankfully not a position
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Speaker 3: I've ever really had to be in. But there's just
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Speaker 3: my worst nightmare, my worst night social nightmare.
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Speaker 2: Yeah. Absolutely. What is your scariest social money nightmare?
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Speaker 4: Well, I'm very blessed with the best I have. I
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Speaker 4: feel very safe being broke girl in my friendship circles.
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Speaker 2: I need to make you less safe. Yeah, that's totally good.
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Speaker 2: Like I just want to make you real rich. She's
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Speaker 2: got an axe coming out of her hand. I've threaten
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Speaker 2: you into a better money position. Oh, you put this here.
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Speaker 4: But I think like the scariest thing for me is
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Speaker 4: when it's secondhand. Let's say, like you know, you're going
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Speaker 4: to visit your partner's family at Christmas, or a friend's family,
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Speaker 4: or like something that is beyond your close circle, whether
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Speaker 4: it's like immediate family or close friends or whatever. That's
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Speaker 4: when I get really anxious because it's like, you know,
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Speaker 4: for example, I've got to visit my partner's mum on
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Speaker 4: the Gold Coast and I'm going to have to bring something,
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Speaker 4: and that is making me so stressed because you can't.
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Speaker 4: And I think there's something about that secondhand, or like
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Speaker 4: when someone doesn't know you as well as you're close
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Speaker 4: people and you are expected to like just buy like
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Speaker 4: a nice, thoughtful thing that isn't super personalized because you
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Speaker 4: don't know them as well either, so it has to
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Speaker 4: kind of come from a little bit of money has
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Speaker 4: been a good bottle of wine or a good something.
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Speaker 2: This together, I think that stresses me. Work on it.
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Speaker 2: Will work on it, and you, Oh my god. I
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Speaker 2: thankfully I got to go last. But while I was
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Speaker 2: listening to yours, I was just thinking of all these
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Speaker 2: other things that I could add. So first is when
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Speaker 2: someone says, let's just split the bill equally, Oh yes,
5:16
Speaker 2: I just had an entree. The next is our group presence.
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Speaker 2: So when you've been like, oh, I'm going to Jess's
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Speaker 2: birthday and like you've already planned your stuff, and then
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Speaker 2: someone goes, oh my god, well it's actually her thirtieth birthday,
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Speaker 2: so we should all go in and get her a present,
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Speaker 2: and then they dictate the budget. Yeah nightmare. And then
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Speaker 2: my last one I can't remember, so you just stop
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Speaker 2: getting it. We're giving too and you're just telling to
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Speaker 2: I was like, what is this, Like, what's my last one?
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Speaker 2: And it's literally just left my brain. Yours were really good, though,
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Speaker 2: and I really really liked them because it's like getting
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Speaker 2: a little bit more insight into the two of your brains,
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Speaker 2: which I really really like. So moving forward, if you
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Speaker 2: guys have a question that you are dying for us
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Speaker 2: to respond to, it doesn't even have to be money.
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Speaker 2: It could be like something totally unhinged, because like Friday
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Speaker 2: Drinks is just a vacato totally my favorite cereal. To like,
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Speaker 2: what do you want to know? Pop it in a
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Speaker 2: comment section on Spotify, and I'll also link the question
6:13
Speaker 2: call out in our thread that we're going to put
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Speaker 2: on our Facebook group in the show notes so that
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Speaker 2: you can go straight to that as well. So just like,
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Speaker 2: ask all your questions, because I think it'd be really
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Speaker 2: fun to ask Beck and Jess and maybe even me
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Speaker 2: sometimes what our thoughts on things are. Yeah, because I
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Speaker 2: can guarantee our brunches when we catch up they're wild
6:33
Speaker 2: because we're all so different. Yeah, that's so true. Isn't
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Speaker 2: that beautiful?
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Speaker 1: Yes?
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Speaker 2: But also so unhinged sometimes I'm like, what is going
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Speaker 2: on inside her head? Anyway, Let's move forward. So apart
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Speaker 2: from being unhinged, we also like to stroke our own
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Speaker 2: egos and still talk about our community. Would you guys
6:51
Speaker 2: like to hear a five star review. Yes please, all right,
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Speaker 2: So I picked this one because de Lulu has been
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Speaker 2: the word of my week. So from de Lulu true
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Speaker 2: money Queen from Perth Goal. By the way, while I'm
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Speaker 2: wearing this, if you're not watching it on YouTube, I'm
7:05
Speaker 2: wearing a very large tiara. Oh go look at the videos.
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Speaker 2: Surely Instagram something dressed as a witch. Beck Is. I
7:15
Speaker 2: don't know what beck is. Beck has just scorne through
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Speaker 2: the costume box. She has an axe coming out of
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Speaker 2: her head. She has a princess tiara and a cape.
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Speaker 2: Exactly She's ready and obviously it means I am something
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Speaker 2: something good good Halloween s Anyway, This one is from
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Speaker 2: Perth Gal twenty three and she says, I am so
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Speaker 2: happy I found this. My money story was all about
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Speaker 2: spending it before someone else spent it For me. I
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Speaker 2: have learned to trust more of myself and that saving
7:45
Speaker 2: for a rainy date is actually so much less stressful.
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Speaker 2: I listened to this religiously now and I'm always waiting
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Speaker 2: for the next episode. Love the honesty, the tough love,
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Speaker 2: and the beautiful friendships that shine through all of your episodes.
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Speaker 2: That's so nice that me what is going on inside
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Speaker 2: her head them beautiful relationships Me. Yeah, I'm so nice. Friend.
8:07
Speaker 2: I'm going to come through that. Sorry, But I love
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Speaker 2: a five star review. And I love hearing how you
8:12
Speaker 2: guys are getting on. How long you've been with the community.
8:15
Speaker 2: You know, earlier this year, we launched our rebrand, and
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Speaker 2: I had so many people messaging us being like, oh
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Speaker 2: my god, Ve Like when I saw all those videos
8:22
Speaker 2: of your rebrand, like I couldn't believe how long I've
8:24
Speaker 2: been here for. Like I saw them and I was like, oh,
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Speaker 2: I remember that, And sometimes I'm like, I wish you didn't.
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Speaker 2: Oh that's really cute. Yeah, that's really really cute. Anyway,
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Speaker 2: more about our community, Miss Jess, I got to eat
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Speaker 2: chea community. Money wins, what are you bringing to the table?
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Speaker 3: Alrighty, first of this week, I have one from Elisa,
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Speaker 3: who said money win. I did my groceries through the
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Speaker 3: shop back at this morning and got twenty five dollars
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Speaker 3: in cash back.
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Speaker 2: Gorgeous twenty fi. I know how good.
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Speaker 3: I would bit of a theme this week groceries. It
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Speaker 3: seems they are pretty spooky. Cost of living absolutely. Next time,
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Speaker 3: I money from Alex who said she bought six chickens
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Speaker 3: for thirty dollars a chicken and she'll never have to
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Speaker 3: pay for eggs again.
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Speaker 2: But now you have to pay for grain, and now
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Speaker 2: you have pets. I would be such a chicken girl
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Speaker 2: if I got them. I think sick chicken sounds like
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Speaker 2: the perfect amount of chickens to each Oh my god.
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Speaker 2: I am also just so farm oriented at the moment. Like,
9:17
Speaker 2: as you guys know, we've been looking for a house,
9:19
Speaker 2: trying to work out where we want to live, and like,
9:21
Speaker 2: in that I have been using real estate dot com,
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Speaker 2: dotter you basically as Instagram, Like I scroll through that
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Speaker 2: stuff on the daily. Love right, Yeah, Like what if
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Speaker 2: Steve we moved to a farm and got cows and
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Speaker 2: chickens and He's just like absolutely not. Then you know
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Speaker 2: what I do. I go into the office. Jess doesn't
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Speaker 2: know this yet. You're not going to care that much,
9:40
Speaker 2: Beck because you don't know her. But you know Jacqueline,
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Speaker 2: one of my mortgage brokers, she's getting too highland cows.
9:47
Speaker 2: Oh my god, I love babies. At the moment. When
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Speaker 2: you're in the office next, ask her for the videos
9:55
Speaker 2: because I was screaming. She's currently trying to work out
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Speaker 2: what like to name them and I reminded her of
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Speaker 2: my friend Chloe Jane. She's on Instagram. She's a really
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Speaker 2: beautiful influencer from Adelaide. But she actually has two Highland cows,
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Speaker 2: so if you're not following her, you clearly need to.
10:10
Speaker 2: But she has the Moose Brothers. Oh cute work out,
10:15
Speaker 2: Oh my goodness for today's episode, the Booze Brothers. Yeah,
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Speaker 2: I'm gonna ask her if she can put some pumpkins
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Speaker 2: around her for me. Make them spooky, make them anyway. Sorry,
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Speaker 2: that was really I told you that these episodes are chaos.
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Speaker 2: I'm sorry. That's okay. Can you tell I didn't take
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Speaker 2: my Adhd Mede this morning? Oh yeah, we get out
10:38
Speaker 2: all right.
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Speaker 3: Next, I've got a money win from Alyssa spelled differently,
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Speaker 3: who said money win.
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Speaker 2: Aldi opened in her town.
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Speaker 3: I see a lot of people talk about how much
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Speaker 3: they're saving with ALDI, so I feel like that's a
10:49
Speaker 3: really good one. Next, I've got a money win from eighty.
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Speaker 3: He said she saw a print that she loved at Adairs.
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Speaker 3: She went in to get it and it was ticketed
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Speaker 3: at one hundred and twenty nine ninety nine when it
10:58
Speaker 3: should have been one hundred seventy nine ninety nine.
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Speaker 2: Oh so she got herself a hot little deal. The
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Speaker 2: price she put in a photo. It's farm friendly, it's
11:07
Speaker 2: a horse yeah, which is farm episode? Oh my god?
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Speaker 2: Can we just start theming the episode, pay for all
11:13
Speaker 2: of them? Yeah, and we're gonna pick terrible themes yeah,
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Speaker 2: no Halloween just like farm yeah yeah yeah yeah or
11:22
Speaker 2: loose thread yeah.
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Speaker 3: And then lastly, this week, I've got a money win
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Speaker 3: from Hannah, who said instead of paying six dollars or
11:30
Speaker 3: more for a vegan ice cream when she was out,
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Speaker 3: she bought a pack of four vegan Trumpet ice creams
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Speaker 3: from Coals for nine dollars fifty Trumpet deal.
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Speaker 2: I don't know what a Trumpet ice cream is. I
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Speaker 2: think it's a brand. Yeah, okay, I am all about
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Speaker 2: the waste bar at the moment. Really, this week, I've
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Speaker 2: eaten four just this week alone. Please don't ask if
11:48
Speaker 2: any of them were on the same day, because maybe
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Speaker 2: they were. The doctor away and Beck, do you have
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Speaker 2: any broke tips? I feel like broke tips could be
11:55
Speaker 2: a little bit spooky. They could be, and I'm going
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Speaker 2: to try and make these spooky. Say them and you're spooky,
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Speaker 2: spooky voice.
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Speaker 4: Okay, So this one's from Emma who may or may
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Speaker 4: not be our breaths a bit sultry, doesn't it sounds
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Speaker 4: a bit sexy.
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Speaker 2: Our producer? Is that scary or it's that hot? So
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Speaker 2: Emma who may or may not be.
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Speaker 4: Our producer, said that she had a dress up on
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Speaker 4: Facebook Marketplace since April hadn't had one message about it,
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Speaker 4: but on the weekend she finally had someone who messaged
12:25
Speaker 4: and bought it straight away because she was getting ready
12:27
Speaker 4: for her Christmas parties, which leads us to say, this
12:31
Speaker 4: is a reminder to go through your wardrobe for unwanted
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Speaker 4: Christmas party outfits and wedding outfits because it is wedding
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Speaker 4: season and makes some extra cash on marketplace when Henny
12:40
Speaker 4: is Christmas and wedding season and Halloween sees it. So anything,
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Speaker 4: even if you have something you were like this is hideous,
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Speaker 4: someone somewhere will need it for Halloween or Christmas or
12:49
Speaker 4: some sort of party.
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Speaker 2: I'm wearing a tiara right now. This was a necessary
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Speaker 2: purchase exactly Victoria's wearing a tiara. And if you have
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Speaker 2: online around, you haven't been able to sell a tiara
12:58
Speaker 2: all year. Now it's probably the all time now.
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Speaker 4: The time I've driven far and wide find a fluffy
13:04
Speaker 4: Sanda hat. If you got a fluffy Sanda hat out there,
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Speaker 4: someone's gonna buy it anyway.
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Speaker 2: I still remember that from last Christmas. Yeah, and I
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Speaker 2: was like, are you joking? I have like six Yeah?
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Speaker 4: Oh well I haven't seen no hard nor hair fluffy Christmas.
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Speaker 4: That's but I would really like one. If it's a cow,
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Speaker 4: buy it off you. Yeah, okay, all right, well I
13:20
Speaker 4: can bring one in for you. I just need to
13:21
Speaker 4: get my Christmas storage box open and then it's all yours.
13:24
Speaker 4: But I feel like, because it's Halloween, it should be
13:26
Speaker 4: illegal to open your Christmas storage boxes yet.
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Speaker 2: But do you know what I reckon? Jess is already
13:30
Speaker 2: planning the day after Halloween Christmas tray up y y.
13:34
Speaker 2: Why am I not surprised? No, I'm so with you. Okay,
13:38
Speaker 2: So this one comes from Ali.
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Speaker 4: Ali has slid into my DMS to let me know
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Speaker 4: that Farmer's Pick now has meat. You know those veggie boxes.
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Speaker 4: Is like, and so if anyone doesn't know Farmer's Pick,
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Speaker 4: it's like it's similar to fugly where it's just like
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Speaker 4: all the kind of like ugly vegetables, ugly fruits, they
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Speaker 4: kind of go into a box and they get set
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Speaker 4: and they're really really good.
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Speaker 2: They're great for you that there's nothing wrong with them.
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Speaker 2: They're just a little bit ugly.
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Speaker 4: And so now they have meat, which might make you
14:02
Speaker 4: think like, Ooh, I don't know if I want to
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Speaker 4: get meat from but it's so fine.
14:06
Speaker 2: It is very good for you.
14:07
Speaker 4: I don't know where this sourcing is me maybe it's
14:09
Speaker 4: just from like cheaper butchers or something like that, but
14:13
Speaker 4: you can now get meat on there and I feel
14:14
Speaker 4: like me is very expensive, so it's a really good tip.
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Speaker 2: Yeah, and it's probably not in QR meat. Honestly, if
14:19
Speaker 2: I ran a veggie box series and I was like
14:21
Speaker 2: selling NQR carrots right, first things first, my chopping skills
14:26
Speaker 2: lack a lot of nuance, so by the time all
14:30
Speaker 2: the veggies are chopped, you're not going to be able
14:31
Speaker 2: to tell. You'd be like, that's fine totally. But if
14:35
Speaker 2: I ran a veggie box company, adding meat when you're
14:39
Speaker 2: already doing the order just makes sense. They're probably just
14:42
Speaker 2: orderating it in bold dinner in a box basically genius.
14:45
Speaker 2: Oh my god, actually might jump on this after we
14:48
Speaker 2: finished recording. I feel like Marley Spoon is like dinner
14:51
Speaker 2: in a box though that's like even more planned, like
14:54
Speaker 2: that would be. My broke tip is just like use
14:56
Speaker 2: my Marley Spoon code and just get some free meals
14:58
Speaker 2: coming up to Christmas so that you can save a
15:00
Speaker 2: little bit more.
15:01
Speaker 4: Yeah, that's so, it's actually crazy. So I think that's fantastic.
15:04
Speaker 4: Do your whole Christmas dinner.
15:07
Speaker 2: On my spooed. I'm sorry just to jump in there.
15:10
Speaker 2: You think that's funny. They do, They do crazy, they do.
15:13
Speaker 2: So I did this at Easter time. Yeah, they have
15:16
Speaker 2: there And this is not an ad, this is not sponsored.
15:18
Speaker 2: This is just I have been indoctrinated into the cult
15:21
Speaker 2: of Marley Spoon. So therefore when we talk about food,
15:24
Speaker 2: I just want to tell you about my positive experiences.
15:27
Speaker 2: So they have their like you know, meal kits, and
15:29
Speaker 2: then they have their marketplace, and inside their marketplace they
15:33
Speaker 2: do like a roast pork for six people, a broccolini
15:37
Speaker 2: side for six people, and you can mix and match
15:39
Speaker 2: your own things, so you don't like roast pork, no worries.
15:41
Speaker 2: They've got a whole roast chicken thing that you can pick. So,
15:43
Speaker 2: like I mixed and matched and had the most seamless
15:47
Speaker 2: Easter dinner with my family over. So we had like
15:50
Speaker 2: a really beautiful pork belly. There was like these candied
15:53
Speaker 2: sweet potatoes. We had the broccolini. We had like these
15:57
Speaker 2: like roasted carrots. Everything was gorgeous and there was a dessert.
16:01
Speaker 2: So you just add them all to basket. And I
16:03
Speaker 2: remember thinking, oh, maybe this is the lazy option, which
16:07
Speaker 2: that's why I did it, But it ended up being
16:09
Speaker 2: really economical because I was like, hold on, hold on.
16:11
Speaker 2: I looked at the pork belly and it was basically
16:13
Speaker 2: the same price for the pork belly to be sent
16:16
Speaker 2: to me as the pork belly at the supermarket at
16:18
Speaker 2: the time. But they sent the herbs, the spices, the garnish,
16:22
Speaker 2: like all of that, and it was bloody organic. I
16:25
Speaker 2: was like, this is good. I'm living. I'm basically a genius.
16:28
Speaker 2: That's so good. So I haven't seen it yet because
16:31
Speaker 2: it's obviously not Christmas time yet, but I reckon they'll
16:34
Speaker 2: do a Christmas series for us, Marley Spoon, if you're
16:36
Speaker 2: not going to and putting the pressure on here, because
16:37
Speaker 2: I would like to see that. Thank you so.
16:39
Speaker 4: Stress less about the Christmas lunch and dinner because Marley
16:43
Speaker 4: Spoon maybe will have you covered.
16:45
Speaker 2: I'm going to call Marley Spoon and be like, did
16:47
Speaker 2: you know Beck wants some sponsorship money? It sounding like
16:52
Speaker 2: I'm sponsored by them. I wouldn't hate it. I wouldn't
16:54
Speaker 2: hurt a little bit of money.
16:57
Speaker 4: No, So my tip this week is make your own
17:01
Speaker 4: dish washing tablets. I saw this thing on TikTok, and
17:03
Speaker 4: I can like send the link, I can put it
17:05
Speaker 4: in the show notes if you guys want. But it's
17:07
Speaker 4: like you can ice tray, ice cube tray, and you
17:09
Speaker 4: I believe it is like maybe one part dishushing liquid,
17:14
Speaker 4: some toothpaste, just a little dollop, baking soda, a little
17:17
Speaker 4: bit more dishoushing liquid, a different color, just to make
17:20
Speaker 4: it look a little bit more like a finished tablet.
17:23
Speaker 2: But you don't have to do that. You can do
17:24
Speaker 2: whatever color and you chuck.
17:26
Speaker 4: It in the freezer and then you just pop it in.
17:28
Speaker 4: It literally looks like I think, like the toothpaste. You
17:31
Speaker 4: just put a dollop and it looks like the little
17:33
Speaker 4: red circle in a dish washing tablet.
17:35
Speaker 2: I have heard of people using toothpaste to like polish things,
17:38
Speaker 2: so I kind of believe.
17:39
Speaker 4: It yes, I polish a lot of my silverware with paste,
17:42
Speaker 4: so I think that's it's doable. And so you pop
17:44
Speaker 4: that in the freezer and then you pull them out
17:46
Speaker 4: and like from memory, I don't have a dishwasher anymore,
17:49
Speaker 4: but it was like seventy dollars for like a thirty
17:52
Speaker 4: pack or something.
17:53
Speaker 2: Is it still expensive?
17:54
Speaker 1: Still?
17:54
Speaker 2: Away?
17:55
Speaker 4: So I'm like dishrushing liquid and toothpaste and baking soda.
17:59
Speaker 2: I'm like that it's so much cheaper. I don't know
18:02
Speaker 2: if it'll like be really sudsy. I don't understand how
18:04
Speaker 2: that all works. I don't know how it works. It
18:05
Speaker 2: sounds like a lot of effort. But can I add
18:07
Speaker 2: to that broke tip please? So like dish washing tablets
18:11
Speaker 2: astronomically expensive, like pane of my existence? Why did I
18:15
Speaker 2: think I had to buy them?
18:16
Speaker 5: Though?
18:16
Speaker 2: Oh, you don't actually have to buy dish washing tablets, like,
18:19
Speaker 2: and you know what, great broke tip if you really
18:21
Speaker 2: want your dish washing tablets. But Beck, I've just stopped
18:24
Speaker 2: buying dish washing tablets. And for three dollars ninety at coals,
18:27
Speaker 2: I buy a kilo of dish washing powder. Oh, and
18:30
Speaker 2: like I just pour that into the little canister and
18:33
Speaker 2: she does a good job. I think it's like lemon
18:35
Speaker 2: fresh or something gorgeous. Perfect. Sorry, it does the job.
18:38
Speaker 2: And it's three dollars ninety for a whole damn kilo. Really, yes,
18:42
Speaker 2: it's just like powder and like it comes in like
18:45
Speaker 2: you know, like the old school laundry, like you containers
18:47
Speaker 2: with like you screw off the top and they pour
18:50
Speaker 2: it in. I just like, I don't measure it. Maybe
18:52
Speaker 2: I should be measuring it. I just measure with my
18:54
Speaker 2: heart and I just fill up the little plastic container
18:57
Speaker 2: and chuck the lid closed. When back, ma'am, I still
19:00
Speaker 2: haven't run out three dollars ninety. That's so don't quote
19:04
Speaker 2: me on that because it might not be three dollars ninety,
19:06
Speaker 2: but I'm sure it is. I'm absolutely certain it's under
19:08
Speaker 2: four dollars. That's so cool. Under four dollars. Like, why
19:11
Speaker 2: do we need dish washing tablets? I know, great money tip,
19:14
Speaker 2: like or broke tip if you're like I really like
19:16
Speaker 2: having you know, stock and just chucking them in money win.
19:19
Speaker 2: But like, sorry, I'm even lazier than that. And I
19:21
Speaker 2: also just do you need a dish washing tablet? A
19:24
Speaker 2: parent light don't know. That's it. Well that's me for
19:26
Speaker 2: this week. All right, Well, let's head off on a
19:29
Speaker 2: really quick, maybe not so scary break because after the break,
19:32
Speaker 2: we're going to be having a chat about your money dilemma,
19:34
Speaker 2: which is all about whether you should be prioritizing investing
19:37
Speaker 2: when you actually have debt and something that you slid
19:40
Speaker 2: into our dms about whether you should give back an
19:42
Speaker 2: early inheritance when your parents are now struggling. So don't
19:46
Speaker 2: go anywhere, welcome back. Sorry. I hope that every listening
19:55
Speaker 2: is just leading in because I'm having lots of fun. Yeah, leaning,
19:57
Speaker 2: and don't get too scared. I'm only wearing a tr
20:00
Speaker 2: because Jess lindsay in. Let's listen to this week's book
20:02
Speaker 2: you Money Dilemma.
20:06
Speaker 5: Hi, there, have you got a money dilemma you just
20:08
Speaker 5: can't solve? The She's on the Money team is here
20:11
Speaker 5: to help. Every week we tackle your dilemmas, both big
20:14
Speaker 5: and small, to answer your most burning money, career and
20:17
Speaker 5: life questions. To get involved, simply head to our website
20:20
Speaker 5: and leave us a short voice recording and you might
20:22
Speaker 5: just find yourself on the show.
20:24
Speaker 2: Now, let's take a listen to this week's money dilemma.
20:29
Speaker 6: Hey guys, my question today is well, really just wanting
20:32
Speaker 6: your opinion on the whether you think you should be
20:36
Speaker 6: prioritizing paying off debt over having investments and savings. So
20:42
Speaker 6: a bit of my backstory is that I have a
20:44
Speaker 6: considerable amount of debt a few years ago after coming
20:47
Speaker 6: out of a relationship unfortunately, and so IF worked hard
20:50
Speaker 6: over the last few years to get that down from
20:53
Speaker 6: about fifty thousand to about fifteen thousand. And I also
20:58
Speaker 6: have a couple of credit cards. So while I'm doing
21:01
Speaker 6: well to actually get those under control now, I have
21:06
Speaker 6: actually also started looking at and I've opened up a
21:08
Speaker 6: Sharesy's account thanks SotM, and a Raise account. However, there's
21:13
Speaker 6: all always that nagging feeling the back of my head
21:16
Speaker 6: that I shouldn't be putting money in these platforms, that
21:20
Speaker 6: it should all be going towards my paying off my debt.
21:24
Speaker 6: I feel like that's not practical for people.
21:27
Speaker 1: You know.
21:27
Speaker 6: I'm in my mid forties now, and i want to
21:30
Speaker 6: make sure that I'm giving myself the best possibility you know,
21:34
Speaker 6: when retirement comes along. So I'd really love your opinion
21:38
Speaker 6: on this little conundrum. Thanks guys, love your work boogie.
21:43
Speaker 4: Oh my god, it is incredible that she was able
21:46
Speaker 4: to get that down from fifteenty to fifteen.
21:48
Speaker 2: That's amazing. That's really really cool. I mean, I don't know.
21:52
Speaker 2: I'm not on my omed, so I'm trying real hard
21:55
Speaker 2: to bite my tongue and let you guys talks.
21:58
Speaker 4: I think that Victoria might say to wait, actually actually
22:02
Speaker 4: because of what I say. Well, I don't know, but
22:03
Speaker 4: I'm thinking sure that you could do like half half
22:05
Speaker 4: as long as your debt isn't climbing with interest and
22:10
Speaker 4: you're still chipping into it and you're not. Yeah, I
22:13
Speaker 4: think it's if your debt is slowly going down and
22:16
Speaker 4: it's not gaining interest and like doubling tripling in price
22:19
Speaker 4: over time, then both are a priority. I would say,
22:24
Speaker 4: But I don't know, because I'm not a finance expert.
22:26
Speaker 4: I want to say it's congratulations, because it can be
22:28
Speaker 4: very very stressful and to overcome that and not be like,
22:32
Speaker 4: it's really cool.
22:33
Speaker 2: I totally agree. That's really exciting. You've made so much progress.
22:36
Speaker 2: Well done.
22:37
Speaker 3: Yeah, I would say, run the numbers on the opportunity class.
22:41
Speaker 3: We don't know what your interest rate is on your
22:44
Speaker 3: credit cards, and they can be. I mean, they're really vary.
22:48
Speaker 3: Vd's probably got a better gauge on what they are
22:50
Speaker 3: than I do. But I would say, run the numbers
22:52
Speaker 3: on what your credit card interest or payment looks like
22:55
Speaker 3: and how long it's going to take you to pay off,
22:57
Speaker 3: because I think if you said or I could buckle
23:00
Speaker 3: down pay that last fifteen thousand dollars off over let's
23:03
Speaker 3: say twelve eighteen, twenty four months, versus how much you
23:08
Speaker 3: would make if you're contributing to the share market over
23:11
Speaker 3: that time, using you know, an average rate of return,
23:14
Speaker 3: say seven eight percent roughly conservatively, I personally would probably prioritize.
23:20
Speaker 2: Paying down the debt. That's just my choice.
23:23
Speaker 3: I think a good happy medium is you can turn
23:25
Speaker 3: your roundups on on your shares arse so you still
23:27
Speaker 3: have a little bit of money trickling in. You can
23:30
Speaker 3: still feel like you're contributing. You're making a bit of progress.
23:33
Speaker 3: You don't really see it going, but you're not, you know,
23:35
Speaker 3: putting bulk lump sums in. Rather, you're putting those debts
23:39
Speaker 3: to your debt repayment. And then once that's done, you
23:42
Speaker 3: know that whenever you were contributing to your debt repayment
23:44
Speaker 3: you can then start investing. But as I said, I
23:47
Speaker 3: feel like miss Queen over here is probably kind of
23:50
Speaker 3: better idea.
23:51
Speaker 2: Is it my turn? Is it my turn?
23:53
Speaker 5: Yeah?
23:53
Speaker 2: So paying off your high interest debt is an investment
23:56
Speaker 2: in itself. Like you told me that you have debt
23:59
Speaker 2: for a relationship. No, you didn't tell me the interest rate, Jess.
24:02
Speaker 2: You are right, you should be looking at the interest rates.
24:04
Speaker 2: Both of you said that. But if you're telling me
24:08
Speaker 2: that that is personal debt, I can't give you personal advice.
24:12
Speaker 2: But paying off your high interest debts first is going
24:16
Speaker 2: to be an investment in itself because the sooner you
24:19
Speaker 2: pay that off, the less interest you're paying, and that
24:22
Speaker 2: is such a better return than anything you can get
24:25
Speaker 2: in the share market because right now, over the last
24:27
Speaker 2: thirty years, the average rate of return of the Australian
24:30
Speaker 2: share market is sitting at about nine point eight percent,
24:33
Speaker 2: and then if you like zoom out international markets, it's
24:35
Speaker 2: about eleven percent. Right, sexy, But I can almost guarantee
24:39
Speaker 2: if you're telling me it's credit card or personal debt.
24:41
Speaker 2: Credit card and personal debt anywhere in Australia sits between
24:44
Speaker 2: fifteen and twenty five percent, sometimes can be astronomically more,
24:49
Speaker 2: you're telling me that if I direct my money to
24:52
Speaker 2: my high interest debt, I'm going to get basically a
24:56
Speaker 2: fifteen to twenty five percent return by paying that off sooner.
25:00
Speaker 2: You're not getting the return in your bank account, so
25:02
Speaker 2: it doesn't feel as good, but you're saving the money
25:05
Speaker 2: you're getting out of debt sooner, which means the second
25:07
Speaker 2: you've stopped being aggressive about paying that debt off, you
25:10
Speaker 2: know where that money can go straight into an investment.
25:13
Speaker 2: So for me, it's about that high interest debt and
25:17
Speaker 2: making it a priority to smash it out. Would I
25:20
Speaker 2: still save during that time is a different question. I
25:24
Speaker 2: would personally make sure that I had an emergency fund,
25:29
Speaker 2: because if you get up the creek without a paddle,
25:33
Speaker 2: you can rely on your emergency fund instead of going
25:36
Speaker 2: further into debt. But investing right now, that investment is
25:41
Speaker 2: potentially paying off your debt as aggressively as possible. But
25:45
Speaker 2: on the flip side, you might be thinking, if you're
25:47
Speaker 2: a listener, but fore what about my mortgage? But that's
25:49
Speaker 2: different again because most mortgages at the moment are sitting
25:52
Speaker 2: ideally at around or under five percent. So if we
25:55
Speaker 2: look at a five percent return versus that nine point
25:58
Speaker 2: eight or even eleven percent, you can see that that's
26:01
Speaker 2: like a maybe lower priority because it's a lower interest rate.
26:04
Speaker 2: So you might get better return on your money by
26:07
Speaker 2: doing a better interest rate. So the important information here
26:11
Speaker 2: is really the semantics of your debt. If you go,
26:13
Speaker 2: we'll actually via I've got this really slay personal debt,
26:16
Speaker 2: and like there's all these additional nuances that I'm not
26:19
Speaker 2: sure of, and you go, well, actually, my personal debt
26:22
Speaker 2: sitting at five percent, Well, actually that might change the
26:25
Speaker 2: game again because your return on your money and the
26:28
Speaker 2: money that's coming into your bank account today could literally
26:31
Speaker 2: be working harder in the share market. But what I
26:33
Speaker 2: can guarantee to be true is if you had an
26:37
Speaker 2: eighteen percent credit card that you are paying down, and
26:41
Speaker 2: you also had a shares account that's returning you nine
26:45
Speaker 2: percent per annum, your money is going to go further
26:49
Speaker 2: paying off that debt. That is just the maths of it.
26:52
Speaker 2: It's not about oh it would be nice, and I
26:55
Speaker 2: know you said, Look, I'm in my forties and I
26:57
Speaker 2: feel like, you know, retirements getting away from me. The
27:00
Speaker 2: best thing you can possibly do is do the numbers
27:04
Speaker 2: and go Okay, it's not really about how I'm feeling
27:06
Speaker 2: right now. It's about the maths. What maths. Math's harder,
27:09
Speaker 2: so that at the end, when I'm in retirement, I
27:11
Speaker 2: actually have more money. And more often than not, you're
27:14
Speaker 2: going to find yourself having more money because you literally
27:18
Speaker 2: paid off your debt quicker and they could invest more
27:20
Speaker 2: instead of stretching that debt over a long period of
27:23
Speaker 2: time and getting screwed with the interest rate. As soon
27:24
Speaker 2: as we said, for the emotional toll too, that having
27:27
Speaker 2: that debt hanging over your head can hold, especially if
27:30
Speaker 2: it's from, as you said, a previous relationship. They just
27:33
Speaker 2: want to get rid of it. I totally get it. Yeah,
27:35
Speaker 2: so sorry, that's me being aggressive. Is that spooky when
27:38
Speaker 2: I get scary? Yeah, it's giving scary. You don't.
27:42
Speaker 3: Yeah, it's like a sleep paralyss esteem and you just
27:45
Speaker 3: wake up a victoria standing over the bed.
27:47
Speaker 2: Debt has me Again. I didn't mean to scare you,
27:52
Speaker 2: but that interest rate is really scary. I wish you
27:55
Speaker 2: were myly proless estemon. That's so nice of you guys
27:59
Speaker 2: to think of it. He's so guy. Do you want
28:02
Speaker 2: to talk gossip though, because oh we have a JUICYDM
28:06
Speaker 2: that we got this week. Are you ready for this? Absolutely?
28:09
Speaker 2: All right, high team. I've got a dilemma that's as
28:12
Speaker 2: much about family as it is about money. My parents
28:15
Speaker 2: gave my partner and I fifty thousand dollars for our
28:18
Speaker 2: first home deposit, but I later found out that my
28:21
Speaker 2: partner already had one hundred thousand dollars from an inheritance
28:24
Speaker 2: we bought the place, and that fifty thousand dollars I
28:27
Speaker 2: got is now sitting as out emergency fund. The thing is,
28:31
Speaker 2: my mum is now really unwell. My parents are retired
28:34
Speaker 2: and they're running low on cash. At the same time,
28:37
Speaker 2: they're choosing to spend more money on a holiday they're
28:39
Speaker 2: calling their last one. So do I give back the
28:42
Speaker 2: fifty thousand dollars to help with bills or keep it
28:45
Speaker 2: in case something goes wrong with the house. Our neighbors
28:48
Speaker 2: are super dodgy and like the police are around monthly.
28:51
Speaker 2: I feel torn between protecting our future and also letting
28:55
Speaker 2: them live their life. What would you guys do? WHOA
28:58
Speaker 2: give the money back? Sorry, I don't know. That's okay,
29:01
Speaker 2: That's exactly how I felt immediately. Okay, That's what I've heard,
29:04
Speaker 2: but then I was also like, oh, okay, Like.
29:07
Speaker 4: I don't feel like on paper like we're removing emotions.
29:10
Speaker 4: We're removing everything except for written word on paper and
29:17
Speaker 4: so in that situation, but I'm taking all emotion everything
29:21
Speaker 4: out of it.
29:21
Speaker 2: I'm thinking like, huh, it would.
29:24
Speaker 4: Be a nice thing to do to give the money back,
29:26
Speaker 4: but it's not essential.
29:27
Speaker 2: You don't need to do that. And it's almost like,
29:30
Speaker 2: but I just think, like as soon as they said
29:34
Speaker 2: my mum is sick, I'm like, what, Yeah.
29:37
Speaker 4: I'm throwing that money back if I couldn't afford it,
29:40
Speaker 4: because I feel like if someone gave me that money
29:43
Speaker 4: and I it would be gone by now.
29:44
Speaker 2: For sure. I actually couldn't afford to give it back.
29:47
Speaker 4: But if I still had it and other money and
29:49
Speaker 4: I wasn't like really struggling, If I was really struggling
29:53
Speaker 4: and I still had it, I would give at least
29:55
Speaker 4: majority of it back. I'd be like, Okay, I'll keep
29:57
Speaker 4: like ten k for myself because I'm also struggling over here.
30:00
Speaker 4: If everyone was like okay with that, you know, all
30:03
Speaker 4: that stuff, I may make sure it's okay, but I
30:05
Speaker 4: would not think twice I'm giving that money back.
30:08
Speaker 2: Yeah, I totally agree.
30:09
Speaker 3: I think that, Yes, I understand that maybe the holiday
30:13
Speaker 3: thing is potentially throwing our listener, And I would say, like,
30:16
Speaker 3: my best sense on that is probably if you're saying
30:19
Speaker 3: your mum is really ill, it might be like an
30:22
Speaker 3: end of life. That sounds really morbid, but it might be,
30:25
Speaker 3: you know, this is my last opportunity to go away
30:28
Speaker 3: with my husband, to do the things that we always
30:30
Speaker 3: said we were going to do, because now she's confronted
30:32
Speaker 3: with her mortality. You know, it truly might be they're
30:35
Speaker 3: saying their last holiday, their last hurrah, which is a
30:39
Speaker 3: really sad concept. But I can understand how you might
30:42
Speaker 3: look at and go, oh, well, they're spending money on
30:44
Speaker 3: a holiday, so I can't be that down bad. But
30:46
Speaker 3: I think like, if you look at it from that perspective,
30:49
Speaker 3: you know, I really can understand it. Oh yeah, you know,
30:52
Speaker 3: wanting one last great memory before whatever illness it is
30:57
Speaker 3: that she's struggling with potentially becomes a lot.
30:59
Speaker 2: More difficul to manage. I agree.
31:02
Speaker 3: I think, to me, there's no question if someone I
31:04
Speaker 3: loved needed help and it was within my means to
31:06
Speaker 3: give it to them, why would I not You know,
31:09
Speaker 3: I understand wanting to protect yourselves and look after yourselves,
31:12
Speaker 3: and as you said, if you had spent the money,
31:14
Speaker 3: I think it would be a different story. But knowing
31:16
Speaker 3: that it's just sitting in a bank account, yes, obviously
31:19
Speaker 3: it's working hard for you. It's your emergency fund, which
31:21
Speaker 3: we do say is very very important. But for me,
31:24
Speaker 3: it really comes down to just such a simple thing
31:26
Speaker 3: of if I can help somebody that I love, why
31:29
Speaker 3: would I not, you know, And I think, as you said,
31:31
Speaker 3: great idea, perhaps keep a little bit of it so
31:32
Speaker 3: you don't have no emergency fund. But yeah, to me,
31:36
Speaker 3: it's quite black and white, and I'm trying to look
31:39
Speaker 3: at the nuance and I'm trying to Devil's advocate it.
31:42
Speaker 3: And you know, I totally understand that you also have
31:46
Speaker 3: yourselves and your own family to think about, but they
31:49
Speaker 3: gave you that gift out of love, which they didn't
31:51
Speaker 3: have to do, and I would like to think that
31:54
Speaker 3: love would mean that you would want to do whatever you.
31:56
Speaker 2: Could as well. Yeah, And I feel like there's two
32:00
Speaker 2: sides to this coin, right, Like keeping the money honors
32:03
Speaker 2: the intention that your parents gave it to you with,
32:07
Speaker 2: which is setting you up and making sure that you're
32:09
Speaker 2: financially secure, and your parents probably feel really good about
32:12
Speaker 2: that decision because they're like, oh my god, look what
32:14
Speaker 2: we did. Like you know, they don't know, or I
32:17
Speaker 2: don't know if they know, but like the semantics around
32:19
Speaker 2: your partner having an inheritance and the fifty thousand dollars,
32:22
Speaker 2: like they really think that they helped you get into
32:24
Speaker 2: your first home and that's really really beautiful. On the
32:27
Speaker 2: flip side, if my parents were struggling, I would backflip,
32:31
Speaker 2: you can have all my money. That's what do you need.
32:33
Speaker 2: Like that's just who I am as a person. And
32:36
Speaker 2: that's not me going oh I'm so good. It's just
32:39
Speaker 2: I see money as something that comes and goes. And yes,
32:43
Speaker 2: I would love to still have an emergency fund, but like,
32:46
Speaker 2: to me, that's an emergency, is it not like my
32:48
Speaker 2: mom's sick? Totally Like to me, that's what an emergency
32:52
Speaker 2: fund is for. On the flip side, I would love
32:57
Speaker 2: for this listener to have a think about, like, well,
32:59
Speaker 2: what does an emergency fund to actually look like, because like,
33:01
Speaker 2: holy boacamole, you are so young. Fifty grand in an
33:04
Speaker 2: emergency fund, like that's a lot, Like most people do
33:08
Speaker 2: not have access to that. Like, don't get me wrong,
33:10
Speaker 2: I'm not saying that we need to go back to
33:12
Speaker 2: exactly averages because we know that the average Australian, due
33:15
Speaker 2: to Westpac data, cannot access five hundred dollars in an emergency.
33:21
Speaker 2: So it's like two thirds of Australians can't access five
33:24
Speaker 2: hundred dollars in an emergency. It doesn't mean that you
33:26
Speaker 2: need to go back to that, but like twenty thousand
33:29
Speaker 2: dollars might take the pressure off. But also, sorry, zoom out.
33:31
Speaker 2: Have you spoken to your parents? Are they just stress heads?
33:35
Speaker 2: Like and this is just me extrapolating this out, they
33:37
Speaker 2: stress heads around money and just like oh my god,
33:40
Speaker 2: everything's so expensive, like the hospital bills, they're this, they're that,
33:43
Speaker 2: But they actually have a nice retirement fund. But they're
33:46
Speaker 2: just a bit frugal about money. And this narrative is
33:49
Speaker 2: coming out. Have you spoken to them and you're like,
33:51
Speaker 2: oh my god, hey, I don't know if you know this,
33:53
Speaker 2: but that money that you gave us, Like I know
33:55
Speaker 2: that you said it was an early inheritance, but it's
33:58
Speaker 2: just sitting in that account. We really don't do you
34:00
Speaker 2: need it back? Like, have a conversation with your parents,
34:03
Speaker 2: I can always guarantee they'll say no, but like maybe
34:06
Speaker 2: they'll be like, oh, actually, could we borrow x amount
34:09
Speaker 2: of it? Like we will return it or whatever. Like
34:11
Speaker 2: I don't know what that narrative looks like. But for
34:14
Speaker 2: me in my situation, if my parents needed my last dollar,
34:18
Speaker 2: I don't know, Well, it's this like yeah, and I'm
34:20
Speaker 2: not saying that that's right for everybody else, because like
34:22
Speaker 2: I have friends who have terrible relationships with their parents,
34:26
Speaker 2: and if their parents were like, hey, have you got
34:28
Speaker 2: ten bucks, they'd be like, get in the bin. Yeah,
34:30
Speaker 2: And that's totally okay too, Like that is so fine.
34:34
Speaker 2: I'm not saying that this is a right or a
34:35
Speaker 2: wrong situation. I think it's like your family nuance, Like
34:39
Speaker 2: you've got to read into that, and I can't tell
34:41
Speaker 2: you what's right. Like at the start of her dilemma,
34:42
Speaker 2: she's like, this is a family thing as much as
34:44
Speaker 2: it's a money thing, and like my family structure is
34:47
Speaker 2: different from yours, Beck, it's different from yours, Jess, Like
34:50
Speaker 2: it doesn't really matter. It's not about being a kind
34:53
Speaker 2: and generous person. It's just like that's how my family
34:55
Speaker 2: dynamic works. Yeah, And so I think that's worth pointing
34:58
Speaker 2: out as well, because I'm not saying you're not being
35:00
Speaker 2: I'm not saying you're not being kind if you kept it,
35:02
Speaker 2: do you know what I mean? Totally yeah, I don't know.
35:04
Speaker 2: But we also asked the community, and this is one
35:07
Speaker 2: of those ones where I'm like, I'm glad we asked
35:08
Speaker 2: the community because I need help answering this because again,
35:11
Speaker 2: you said it best, yes, and like I was chomping
35:15
Speaker 2: at the bit a butt in, but I'm such a
35:17
Speaker 2: black and white person and it is to my own detriment,
35:21
Speaker 2: like I am like right and wrong. And then beck
35:26
Speaker 2: I would say, you're the best at this. You're like
35:28
Speaker 2: able to live in that gray area, like you're like,
35:31
Speaker 2: oh well in some cases, and I'm just like, oh no,
35:34
Speaker 2: like I just that's wrong. I can't do it, Like
35:38
Speaker 2: I'm just so down the line. And that has been
35:41
Speaker 2: for a lot of my life to my own detriment
35:43
Speaker 2: because I just can't see sometimes like the nuance of
35:47
Speaker 2: a situation or accept it. And so I'm glad that
35:50
Speaker 2: we got the community's opinion because I was like, thank
35:52
Speaker 2: you for being my grace base. So we first asked,
35:56
Speaker 2: have you ever received money like this from a parent,
35:58
Speaker 2: and I don't think anyone is going to be surprise.
36:00
Speaker 2: But seventy percent he said no, absolutely not. Twenty eight
36:03
Speaker 2: percent of you said yes and they were okay, and
36:05
Speaker 2: then three percent of you said yes and then they
36:08
Speaker 2: struggled after okay. So it's like it's not just our list.
36:11
Speaker 1: No, no, no.
36:12
Speaker 2: And then I asked, well, what would you do in
36:14
Speaker 2: this situation, and fifty nine percent of you said, look,
36:16
Speaker 2: I'd be trying to find a middle ground. Thirty five
36:19
Speaker 2: percent said I'd be giving the fifty k back they
36:22
Speaker 2: need it, and then six percent said I'd keep it.
36:25
Speaker 2: It was a gift. Yeah. Now we then obviously went
36:28
Speaker 2: in and I said, well, give me your two cents.
36:32
Speaker 2: First person, talk to them, as Jess would say, the
36:37
Speaker 2: key is communication. Is anybody surprised? Next person said, does
36:42
Speaker 2: it have to be all or nothing? Surely you could
36:45
Speaker 2: negotiate a part. Next person said, pay a reoccurring bill
36:49
Speaker 2: for them, take some pressure off by paying their rent
36:52
Speaker 2: or rates, or body corporate for them to help out,
36:54
Speaker 2: so that it could ease the pressure. It's a great
36:56
Speaker 2: middle ground. Yeah. Another person said, I think the guilt
36:59
Speaker 2: would eat you up. They probably wouldn't accept the whole
37:02
Speaker 2: amount back anyway. Yeah, yeah, totally. Another person said I'd
37:06
Speaker 2: offer to contribute to the holiday in a really significant way.
37:10
Speaker 2: I'm like, hey, yeah, actually, can we like make this
37:13
Speaker 2: really special for you and pay for your flights and
37:15
Speaker 2: accommodation or something. Someone else said this, and I think
37:18
Speaker 2: this was really smart. Why is your fifty k in
37:21
Speaker 2: the emergency fund not his? Because he contributed one hundred
37:25
Speaker 2: thousand dollars and then you contributed fifty thousand dollars, but
37:29
Speaker 2: your fifty thousand dollars was the emergency fund instead of
37:31
Speaker 2: doing fifty thousand dollars each and then he fifty thousand
37:33
Speaker 2: in the emergency fund. I'm assuming they just fully share finances,
37:36
Speaker 2: so it's like their money. Yeah, I agreed. Like, if
37:40
Speaker 2: my husband and I were gifted money from my parents,
37:43
Speaker 2: it came into our account, it would be our funds. Yeah,
37:47
Speaker 2: so see, does that make sense? Yeah? So like that's
37:50
Speaker 2: just the assumption that I would. Sure. Yeah, And like
37:52
Speaker 2: even when and I'm not saying this is just like
37:55
Speaker 2: nuance because you guys are pervy and so am I,
37:57
Speaker 2: but even when my husband and I were saving for
37:59
Speaker 2: our first time home, we both were on very different
38:02
Speaker 2: incomes and salaries. By the way, it was me who
38:04
Speaker 2: was the really low income earner at that point in
38:06
Speaker 2: our life, and Steve had a significantly bigger house deposit
38:09
Speaker 2: than me. The answer was actually like, well, actually it's
38:12
Speaker 2: our money. That's fine, Like, I know, I've contributed more
38:15
Speaker 2: and now like the narrative has obviously shifted and I'm
38:18
Speaker 2: that bread winner in that relationship. But like we never
38:21
Speaker 2: really saw it as like Steve contributing, you know, for example,
38:25
Speaker 2: one hundred thousand dollars and me contributing fifty. Sure, so
38:28
Speaker 2: like maybe, yes, maybe it's really split financewers. Again, money
38:32
Speaker 2: has so much nuance. The next person said, you've hopefully
38:36
Speaker 2: had a few years benefiting from that fifty thousand dollars
38:39
Speaker 2: being in an offset account, saved interest. You could give
38:41
Speaker 2: it back happily. Another person said, book a family trip
38:45
Speaker 2: together with the money and spend time with your sick
38:47
Speaker 2: mum before you're not able to any like that idea. Yeah, yeah,
38:51
Speaker 2: gate crash their holiday. Well if they if that's something
38:53
Speaker 2: that they would want. I think if I was like
38:55
Speaker 2: talking to my parents and they're like, you know, obviously,
38:57
Speaker 2: the nuance of this conversation is different. But if my
39:00
Speaker 2: parents were like, yeah, we're going to go on this big,
39:01
Speaker 2: beautiful holiday and I'll be like, oh, we're coming, they'd
39:04
Speaker 2: be like please, no kids. No kids. Like I'd be like,
39:10
Speaker 2: isn't it all inclusive? If you take your dad on
39:12
Speaker 2: a holiday works anyway. That is the commentary from the community,
39:19
Speaker 2: and I feel like that's a really good place to
39:21
Speaker 2: leave it. Unfortunately, communication is key, Jessica, That's it. And
39:25
Speaker 2: it goes back to talking to your parents about this,
39:28
Speaker 2: I think, and then even talking to your partner. Have
39:30
Speaker 2: you had those conversations about how they feel and what
39:33
Speaker 2: that looks like, because you're right, you didn't come this
39:35
Speaker 2: far buy a house to then go back to having
39:38
Speaker 2: absolutely no money, But what could it look like totally anyway,
39:42
Speaker 2: have a very spooky season. I'm hoping that money isn't
39:46
Speaker 2: as scary for a lot of you by this point
39:48
Speaker 2: in the year. If it is, we're still here, we're
39:50
Speaker 2: still vibing, and we'd see a lot of content coming
39:52
Speaker 2: out over the next few months. Do we get there,
39:54
Speaker 2: We'll see you next week. Guys. Bye, guys bye.
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