Latest / She's On The Money / Should you use equity in your home to buy a car? And Is Asking for Trust Fund Cash the New First-Birthday Trend?

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Should you use equity in your home to buy a car? And Is Asking for Trust Fund Cash the New First-Birthday Trend? · 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 Niana,
• 0:08
  Speaker 1: Kaka yah Ya bin Ahaka Nian Our gay In Mbini
• 0:11
  Speaker 1: yakarum Jar dominyamiga Umagahawaka Woman, Damon imlan Bumba ban Gadabomba
• 0:17
  Speaker 1: in and now in wakah ghan On yak rum Jar
• 0:20
  Speaker 1: water Nadaa. Hello, beautiful friends, we gather on the lands
• 0:24
  Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
• 0:28
  Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure
• 0:31
  Speaker 1: 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.
• 0:44
  Speaker 2: You to thrive. She's on the Money. She's on the Money.
• 1:08
  Speaker 2: Hello and welcome to She's on the Money, the podcast
• 1:11
  Speaker 2: that makes personal finance fun, especially on Fridays. My friends,
• 1:15
  Speaker 2: it is our favorite day of the week because we
• 1:17
  Speaker 2: get to get our little team together and celebrate you.
• 1:19
  Speaker 3: How beautiful. She's on the Money Community.
• 1:22
  Speaker 2: Miss Jess Grie, She's here and she is going to
• 1:24
  Speaker 2: be sharing our favorite money wins. Miss Bechsayed has a
• 1:27
  Speaker 2: number of broke tips to share, and we're going to
• 1:29
  Speaker 2: be helping to answer a money dilemma. Is it a
• 1:32
  Speaker 2: good idea to use equity in your home to buy
• 1:35
  Speaker 2: a car? And something that you slid into our dms
• 1:38
  Speaker 2: about being asked to contribute to a trust rather than
• 1:42
  Speaker 2: gifts for a one.
• 1:43
  Speaker 3: Year old's birthday party.
• 1:46
  Speaker 2: So before we get there, because I am very interested
• 1:49
  Speaker 2: in both of those topics, my friends, how were your weeks? Waiting?
• 1:53
  Speaker 4: Lovely?
• 1:54
  Speaker 5: Nothing, she re exciting to report, checking along.
• 1:58
  Speaker 4: Yeah, loving that.
• 2:00
  Speaker 5: We're starting to see a bit of spring now and
• 2:02
  Speaker 5: I see the green on the trees and the flowers growing.
• 2:04
  Speaker 3: The smell for me ah to rain, the smell of
• 2:08
  Speaker 3: the cut grass.
• 2:10
  Speaker 2: But just like everybody is getting ready, the grass is
• 2:12
  Speaker 2: starting to grow, and you know it's coming into spring.
• 2:15
  Speaker 3: Do you know why? Because my husband's complaining about having
• 2:17
  Speaker 3: to mow the lawn more. I have to mow the
• 2:21
  Speaker 3: lawn again this weekend, And I'm like, oh, life must
• 2:23
  Speaker 3: be so tough for you.
• 2:24
  Speaker 5: Rap I've been waiting a whole year to start chaos gardening.
• 2:28
  Speaker 5: I feel like we spoke about this at SO and
• 2:32
  Speaker 5: Springs a good time to plant a lot of things,
• 2:34
  Speaker 5: so you're excited. I want to go to Buddings and
• 2:36
  Speaker 5: get like a little plant to pot that I can
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  Speaker 5: take with me, Like if I move and stuff and
• 2:40
  Speaker 5: just plant a bunch of flowers, I can come.
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  Speaker 6: Yeah.
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  Speaker 2: Cute working on that at the moment.
• 2:44
  Speaker 4: My god, Well, my lovely friend who I live with
• 2:47
  Speaker 4: also she did our front garden like months ago, and
• 2:50
  Speaker 4: now we're finally starting to see the fruits of isn't
• 2:53
  Speaker 4: it cute.
• 2:53
  Speaker 3: When we walk home and you're like, oh, there's a
• 2:55
  Speaker 3: little flowers.
• 2:55
  Speaker 4: Oh my god, it's so gorgeous, so cute. That sounds lovely.
• 2:59
  Speaker 4: And also it's almost Halloween, which is very exciting.
• 3:03
  Speaker 2: We got to hear more about Jess's pumpkin. I love that,
• 3:08
  Speaker 2: but we won't bring that up if you know, you know,
• 3:10
  Speaker 2: I suppose yes, are you doing anything for Halloween? Like,
• 3:13
  Speaker 2: are you excited about it?
• 3:14
  Speaker 4: I do also love any kind of theme, anything that
• 3:17
  Speaker 4: you can dress up for celebrates so fun. Like, I'm
• 3:20
  Speaker 4: sure I will do something. I just don't know what
• 3:22
  Speaker 4: it is yet.
• 3:22
  Speaker 2: I'm like more of a day of kind of planner,
• 3:24
  Speaker 2: you know, I'm just a vicarious Halloween I don't organize anything.
• 3:29
  Speaker 2: I don't decorate my house, but I do a cost
• 3:31
  Speaker 2: Jessica for her Halloween cookies. Yes, I want pictures of
• 3:35
  Speaker 2: her house decorations. What did you do with your pumpkins
• 3:37
  Speaker 2: this year? What activities are you doing with your friends?
• 3:39
  Speaker 2: Because jess like carve pumpkins. That's really cute. But I
• 3:43
  Speaker 2: just want to know about it and absolutely apply it.
• 3:47
  Speaker 2: You're doing.
• 3:47
  Speaker 3: God's honestly good.
• 3:51
  Speaker 2: My husband's complaining about cutting grass and I'm complaining about
• 3:55
  Speaker 2: not that much.
• 3:55
  Speaker 3: So like life is good that for you.
• 3:58
  Speaker 2: But before we get into our money wins and confessions,
• 4:01
  Speaker 2: miss just Gricci and Beck, I mean you get to
• 4:04
  Speaker 2: listen to them.
• 4:05
  Speaker 3: Thank you a five star review?
• 4:07
  Speaker 4: Yes?
• 4:07
  Speaker 5: Please?
• 4:07
  Speaker 6: All right?
• 4:08
  Speaker 2: So this one is by Aim Jamo. I think that's
• 4:11
  Speaker 2: the right way to introduce this person's user name, and
• 4:15
  Speaker 2: they say five stars. Inspired loving the podcast, particularly Brooks
• 4:19
  Speaker 2: episode on investing cool. Brook didn't send me this, by
• 4:23
  Speaker 2: the way, I know she's already seen this. It really
• 4:25
  Speaker 2: inspired me to get started. I've always thought investing in
• 4:28
  Speaker 2: the share market was only for finance gurus, and now I.
• 4:31
  Speaker 3: Don't feel so overwhelmed.
• 4:33
  Speaker 5: That's lovely, And that episode Brook did was so good.
• 4:35
  Speaker 2: Ye just the fact that she was so transparent around
• 4:39
  Speaker 2: like what she owns and how she picked it. I
• 4:41
  Speaker 2: think that's the stuff, Like, that's the grit, that's the
• 4:44
  Speaker 2: stuff that we actually learned from because we do so
• 4:46
  Speaker 2: many episodes on like He's how to invest, Here's what
• 4:49
  Speaker 2: to do, and you're.
• 4:49
  Speaker 3: Kind of like, what are the people doing?
• 4:51
  Speaker 2: Not because you want to copy them, because that would
• 4:53
  Speaker 2: be silly, yea, because past performance is not a reliable
• 4:56
  Speaker 2: indicator of future performance, Miss Bess said, but because you go, oh, well,
• 5:01
  Speaker 2: if she can do it, well, I could do it
• 5:04
  Speaker 2: totally absolutely well, just girls, And it turns out it's
• 5:06
  Speaker 2: not that hard.
• 5:07
  Speaker 5: It's not once you figure it out.
• 5:09
  Speaker 2: No, we're amazing. So tell me more about this amazing community.
• 5:12
  Speaker 2: Miss Jess Green, she what's going on?
• 5:15
  Speaker 5: Alrighty, first of this week, I've got a money in
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  Speaker 5: from Aunt who said I saved six hundred and thirty
• 5:19
  Speaker 5: six dollars by realizing an eight kilogram dryert was big
• 5:22
  Speaker 5: enough for our needs. They'd only been considering a nine
• 5:25
  Speaker 5: kilogram because their washing machine is nine kilogram. And they
• 5:28
  Speaker 5: said the best part is they paid for the dryer
• 5:30
  Speaker 5: by selling stuff around the house. They no longer needed
• 5:32
  Speaker 5: and still had some cash leftover.
• 5:34
  Speaker 4: Oh that's great.
• 5:35
  Speaker 3: I kind of just I never thought of that.
• 5:37
  Speaker 5: No, And it makes perfect sense that like a bigger
• 5:40
  Speaker 5: capacity one would be you know, quite a bit more expensive.
• 5:43
  Speaker 5: But it's just not something that it ever would cross
• 5:45
  Speaker 5: my mind.
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  Speaker 2: I also don't put everything that I wash in the
• 5:47
  Speaker 2: dry out. Like I don't know about you guys, but
• 5:49
  Speaker 2: like I don't enjoy doing the washing because I like
• 5:52
  Speaker 2: put everything in the washing machine. I saw it by colors,
• 5:54
  Speaker 2: and if my husband tries, he doesn't sor by colors,
• 5:56
  Speaker 2: whole thing in our household. So I'm like doing all
• 5:59
  Speaker 2: my whites, but then my white jeans I wouldn't put
• 6:01
  Speaker 2: through the dryer. I'd like to shake it and hang up.
• 6:03
  Speaker 2: But then all of my white nickers, you know, straight
• 6:05
  Speaker 2: in the tumble dryer. Yeah, so like I end up
• 6:07
  Speaker 2: splitting it.
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  Speaker 5: So genius.
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  Speaker 2: I thought I could have saved money.
• 6:13
  Speaker 5: Well now and over next time.
• 6:14
  Speaker 6: Next.
• 6:15
  Speaker 5: I've got a money in from Anna who said she
• 6:16
  Speaker 5: was in at Melbourne for work last week with her
• 6:18
  Speaker 5: an all expenses paid trip and.
• 6:20
  Speaker 2: She didn't say hi, I know, so rude. Wow, she
• 6:23
  Speaker 2: thought we.
• 6:23
  Speaker 5: Were friends, and she said all I spent was her
• 6:26
  Speaker 5: fun money, and she was still under the limit because
• 6:28
  Speaker 5: obviously work paid for her meals and all those sorts
• 6:31
  Speaker 5: of things. She was down, she paused her gym membership,
• 6:34
  Speaker 5: so basically she just existed for free for a week.
• 6:36
  Speaker 3: That's so cool. Was like putting life on pause. Yeah,
• 6:40
  Speaker 3: that's really great.
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  Speaker 1: Great.
• 6:41
  Speaker 5: Next, I've got money in from Caara, who said it
• 6:43
  Speaker 5: pays to ask her internet router died and she ended
• 6:46
  Speaker 5: up chatting to tech support from the internet provider. A
• 6:50
  Speaker 5: new router and mesh system was going to cost her
• 6:52
  Speaker 5: four hundred and eighty dollars. She asked them if she
• 6:55
  Speaker 5: could use the existing mesh system that she already had,
• 6:58
  Speaker 5: and the company helped her to set it up, which
• 7:00
  Speaker 5: meant she didn't need to buy anything new at all.
• 7:02
  Speaker 2: The hell is a meshte I have no idea, but
• 7:04
  Speaker 2: if she's saving money I need.
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  Speaker 5: I think it extends the Wi Fi. This is something
• 7:10
  Speaker 5: my boyfriend spoke to me about and I just went
• 7:12
  Speaker 5: a huh uh, huh, you just I'll just transfer the money. Yeah,
• 7:15
  Speaker 5: but I think it like extends how far the Wi
• 7:18
  Speaker 5: Fi reaches.
• 7:19
  Speaker 2: I have no idea what that means, but I'm very
• 7:21
  Speaker 2: excited that you're saving yannny by asking questions. Great that
• 7:24
  Speaker 2: it was free.
• 7:25
  Speaker 5: So I've got a money in from Christa, who said
• 7:27
  Speaker 5: she was invited to model a dress which was made
• 7:29
  Speaker 5: of recycled materials for a sustainability conference.
• 7:32
  Speaker 2: Oh that's cute, too fine, very special.
• 7:35
  Speaker 5: In return, she got to attend the whole day conference
• 7:37
  Speaker 5: for free, and she got to use her professional development
• 7:40
  Speaker 5: leave from her workplace.
• 7:41
  Speaker 2: Oh good, how exciting.
• 7:43
  Speaker 5: Yeah, the conference, it only costs two hundred and ninety
• 7:45
  Speaker 5: five dollars, and because she used her professional development leave,
• 7:48
  Speaker 5: she was paid to be there. And she said, on
• 7:50
  Speaker 5: top of that, it's something she's really passionate about, so
• 7:52
  Speaker 5: she could spend the day learning.
• 7:53
  Speaker 2: That is actually so yeah, I would wear a dress
• 7:56
  Speaker 2: in front of everybody. I don't even care what it
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  Speaker 2: looks like for you.
• 7:59
  Speaker 3: Five dollars.
• 8:00
  Speaker 5: And last of this week, I've got money in from Natalie,
• 8:01
  Speaker 5: who said she recently fell in love with iced lavender
• 8:05
  Speaker 5: marcher lates.
• 8:06
  Speaker 2: Now that's even more agriculture. That's been putting more agriculture
• 8:10
  Speaker 2: in the agriculture drink.
• 8:12
  Speaker 5: And how many fans can we get in there? Absolutely not,
• 8:14
  Speaker 5: she said, Normally they're eight to ten dollars a cup,
• 8:16
  Speaker 5: which is crazy. She said it was a special occasion
• 8:19
  Speaker 5: drink only, but after chaving her barista, they told her
• 8:22
  Speaker 5: that she could buy a whole bottle of the lavender
• 8:24
  Speaker 5: syrup from them for eighteen dollars. Combined with twelve dollars
• 8:27
  Speaker 5: fifty of much powder from coal, she can now make
• 8:29
  Speaker 5: her favorite drink for seventy six cents, and she said
• 8:32
  Speaker 5: she gets to feel like a smug bug drinking it
• 8:34
  Speaker 5: at home whenever she ugs.
• 8:36
  Speaker 2: I that for you, Like, I just want people to
• 8:38
  Speaker 2: be happy, but I just that's one of the things
• 8:41
  Speaker 2: I can't wrap my head around. Like there are a
• 8:43
  Speaker 2: lot of things like I maybe need to make a
• 8:45
  Speaker 2: TikTok of like people I just don't resonate with it.
• 8:48
  Speaker 2: Would drink Marcher for enjoyment is black number one?
• 8:51
  Speaker 4: I think you would suck to realize after you know,
• 8:54
  Speaker 4: lots of trial and error ordering different coffees as you
• 8:56
  Speaker 4: grow up, and be like, damn, I actually the one
• 8:58
  Speaker 4: I like is eleven dollars every single day.
• 9:02
  Speaker 3: It would be really because I know that like Jess, right,
• 9:07
  Speaker 3: you and I coffee fiends.
• 9:08
  Speaker 2: Oh yeah, but like Jess thinks coffee is disgusting, So
• 9:11
  Speaker 2: like maybe she's a much a girly and we're not
• 9:13
  Speaker 2: like it's it's not because it's actually bad, it's just
• 9:16
  Speaker 2: because I'm obinionated and probably shouldn't be on topics that
• 9:19
  Speaker 2: make other people happy. But you live, love, laugh through
• 9:22
  Speaker 2: all of that. Really, But my favorite coffee is a
• 9:25
  Speaker 2: mont Blanc what is that? Which is a iced coffee.
• 9:30
  Speaker 2: It's an iced black coffee and it usually has like
• 9:33
  Speaker 2: an orange syrup in it, and it has a like
• 9:37
  Speaker 2: cold foam on top, so like a cream vanilla cold
• 9:40
  Speaker 2: foam usually, and then it's usually topped with nutmeg. And
• 9:43
  Speaker 2: like my husband cannot think of anything worse. He's like,
• 9:47
  Speaker 2: why are you drinking a Terry's Chocolate orange? And like
• 9:51
  Speaker 2: if you had a Terry's Chocolate orange, oh, that is
• 9:55
  Speaker 2: an elite experience that she should not be saved for
• 9:58
  Speaker 2: Christmas Terry's chocol orange for all years, I say, but he.
• 10:03
  Speaker 3: Says, that's disgusting. So like, I get it. That's a
• 10:06
  Speaker 3: really expensive You.
• 10:07
  Speaker 5: Get some orange syrup and do it yourself.
• 10:09
  Speaker 3: You could, you really could sound the same.
• 10:12
  Speaker 5: Well, I mean this is the thing.
• 10:13
  Speaker 2: She got it direct from the people, direct from Domingo. Yeah,
• 10:18
  Speaker 2: is good.
• 10:19
  Speaker 4: Let's not let's not sleep afrigado?
• 10:21
  Speaker 3: Is that hits different?
• 10:22
  Speaker 4: God hits different.
• 10:24
  Speaker 2: We don't even need liqueur liquor whatever they call it,
• 10:28
  Speaker 2: because you know how sometimes people put the ice cream
• 10:30
  Speaker 2: and then the shot of coffee and then like Frangellico
• 10:33
  Speaker 2: or maybe some like Kolua or Bailey's or something.
• 10:36
  Speaker 3: I don't even need that. I just need the ice cream.
• 10:39
  Speaker 4: Yeah, actually, just ice cream is good.
• 10:40
  Speaker 2: I think actually Jess would be on board ice cream
• 10:43
  Speaker 2: or like a strawberry.
• 10:44
  Speaker 5: So I refresh eye is what I was gonna say.
• 10:45
  Speaker 5: If anyone has the in for that, I loved by.
• 10:48
  Speaker 3: I don't have that. But when there is a will,
• 10:49
  Speaker 3: there is a way.
• 10:50
  Speaker 2: But did you see that girl complete side note, who
• 10:52
  Speaker 2: got sued by or threatened to be sued by Starbucks
• 10:55
  Speaker 2: because on TikTok she was sharing all their recipes. It
• 10:58
  Speaker 2: kind of makes sense they probably didn't want that distributed,
• 11:01
  Speaker 2: but there are a lot of people that screenshot it
• 11:03
  Speaker 2: then put it on Reddit. If hypothetically you're looking for it, Wow,
• 11:06
  Speaker 2: you wouldn't because we wouldn't take advantage of national corporations
• 11:10
  Speaker 2: like that.
• 11:11
  Speaker 5: Definitely not.
• 11:12
  Speaker 3: Oh no, anyway, that was a very good.
• 11:15
  Speaker 2: Wrap Jess, and sorry for my random tangent. Tangent, miss
• 11:21
  Speaker 2: tell me about your broke tips. So my first one
• 11:23
  Speaker 2: comes from Jess Ricky.
• 11:25
  Speaker 3: Sorry, we've just been crowdsourcing from our own.
• 11:29
  Speaker 4: Because I was rush today and well I was and
• 11:31
  Speaker 4: I just didn't prepare. And then Jess Ricky walked in
• 11:33
  Speaker 4: with a tablecloth for a pant. I don't know if
• 11:37
  Speaker 4: you can tell.
• 11:37
  Speaker 2: But tell their table If you say Jess walked in
• 11:41
  Speaker 2: with tablecloth for pants, I think people are going to
• 11:44
  Speaker 2: be like giving a wind clothe, It's like you need help,
• 11:49
  Speaker 2: it's giving Adam and Eve. But that's not actually what
• 11:52
  Speaker 2: your pants look like. People started complimenting your pants and
• 11:54
  Speaker 2: you were like.
• 11:55
  Speaker 3: Guess what I made these tablecloth?
• 12:00
  Speaker 4: They look so well done.
• 12:01
  Speaker 5: I made my first pay I don't wear it a
• 12:03
  Speaker 5: podcast and nobody can see this, but I made the pain.
• 12:05
  Speaker 5: I'm wearing my very first pair of clothing or my
• 12:07
  Speaker 5: very first item of clothing that I've made.
• 12:09
  Speaker 3: I think they're so nice.
• 12:10
  Speaker 4: And did you have the tablecloth already or you already
• 12:14
  Speaker 4: had it?
• 12:14
  Speaker 2: Yeahstine dollars some came out.
• 12:16
  Speaker 5: It was nine dollars, but yeah, tablecloth. I've heard people
• 12:19
  Speaker 5: say like thrifted bed sheets are really good because you
• 12:20
  Speaker 5: can get.
• 12:21
  Speaker 4: Like linen and have you eaten on those?
• 12:25
  Speaker 5: No, I hadn't used it, which because they look so.
• 12:28
  Speaker 4: Clean, those spaghetti stains they really like color. Yeah, it's crazy. Well,
• 12:34
  Speaker 4: there's extremely impressive.
• 12:36
  Speaker 2: And so it goes to show that if you seen
• 12:39
  Speaker 2: a really expensive sewing machine, if you do all of
• 12:42
  Speaker 2: those things, you too could make pants out of nine
• 12:45
  Speaker 2: dollars tablecloths. But yes, sorry, can we just side note
• 12:48
  Speaker 2: tell me about your like little sewing classes because that was.
• 12:52
  Speaker 5: Also a money win. It needs a good break tip.
• 12:53
  Speaker 5: I think we've made this before, but it's through my
• 12:55
  Speaker 5: local council. You guys know I love.
• 12:57
  Speaker 1: A local.
• 13:00
  Speaker 5: Council does a bunch of like upskilling courses. So there
• 13:03
  Speaker 5: was sewing, cake decorating. There's also a lot of like
• 13:06
  Speaker 5: language and maths ones and things like that. Obviously I
• 13:09
  Speaker 5: was like, not for me, boring, I want to do
• 13:10
  Speaker 5: something fun. But those are also very good available options,
• 13:13
  Speaker 5: and it's so cheap. It was fifty dollars for a
• 13:15
  Speaker 5: ten week course. And I've now learned to sew my
• 13:17
  Speaker 5: own pants.
• 13:18
  Speaker 4: That is really cool, very exciting.
• 13:20
  Speaker 3: Just found somebody who loves their local council.
• 13:22
  Speaker 4: Yeah, that's also great.
• 13:24
  Speaker 2: Name somebody who's like just so valued. I'm here being like,
• 13:29
  Speaker 2: why don't they pick the bins up on time? When
• 13:32
  Speaker 2: I called to ask for house plans, Why couldn't you
• 13:34
  Speaker 2: find them?
• 13:35
  Speaker 4: Yeah, that's true. So I really appreciate your take because
• 13:38
  Speaker 4: I feel like people only like counsel when their bins
• 13:41
  Speaker 4: aren't collected. They're beIN's broken and I never think to change.
• 13:45
  Speaker 4: So I think it's great.
• 13:46
  Speaker 3: Absolutely well.
• 13:46
  Speaker 5: They're only funded to do like lots of things for
• 13:48
  Speaker 5: the community, and I feel like nobody ever does look
• 13:51
  Speaker 5: for them. That's true to get true.
• 13:53
  Speaker 4: So you couldn't have sold your pant before the course.
• 13:56
  Speaker 5: I didn't know how I had the sewing machine, but
• 13:58
  Speaker 5: like I learned, and I made a lot of mistakes
• 14:00
  Speaker 5: making them, so I was very glad there was someone there.
• 14:02
  Speaker 2: Did you have an I feel like that's they It's
• 14:05
  Speaker 2: said to be mistake.
• 14:06
  Speaker 5: And the fabric is not perfect for because I was
• 14:09
  Speaker 5: the tablecloth. It's not perfect for clothing, but I just
• 14:11
  Speaker 5: had it and I liked it, and so I messed
• 14:14
  Speaker 5: something up. I had it unpack the whole leg and
• 14:15
  Speaker 5: another girl in my class, bless her was like, you're
• 14:17
  Speaker 5: going to be here all night. So she took the
• 14:19
  Speaker 5: other end of the pants and we're like, do you
• 14:21
  Speaker 5: love lady in the traps?
• 14:28
  Speaker 2: I would have been there all night.
• 14:29
  Speaker 5: Thank goodness for her.
• 14:30
  Speaker 4: Oh God, I love that. It is so wholesome, whole
• 14:33
  Speaker 4: love that so much.
• 14:34
  Speaker 3: What else have you got back?
• 14:36
  Speaker 4: So thank you, Jess. The sext one comes from Amma,
• 14:38
  Speaker 4: who says I called up my bank and asked them
• 14:40
  Speaker 4: to put me onto the promo interest rate for the
• 14:42
  Speaker 4: savings account. Now that it's finally growing. A few minutes
• 14:45
  Speaker 4: on the phone and it's done for the next three months.
• 14:48
  Speaker 3: What three months?
• 14:49
  Speaker 4: Yeah, So I say, keep on top of a few things,
• 14:53
  Speaker 4: local council website and also bank interest promo rates. You know,
• 14:58
  Speaker 4: sometimes your your bab and like.
• 15:00
  Speaker 2: You don't get that's what Jess was telling us before.
• 15:03
  Speaker 4: Yes, And sometimes you'll see your own bank like for
• 15:06
  Speaker 4: new people you get this promo whatever, and you're like,
• 15:09
  Speaker 4: I've been here sitting waiting being patient to the new people,
• 15:15
  Speaker 4: which cracks doesn't pay.
• 15:17
  Speaker 3: We aren't loyal, does it?
• 15:19
  Speaker 6: No?
• 15:19
  Speaker 4: And so I think in these kind of situations as well,
• 15:21
  Speaker 4: you probably could call up and be like, hey, did
• 15:23
  Speaker 4: you forget about me, and then.
• 15:24
  Speaker 2: Did Mike Taylor up?
• 15:25
  Speaker 3: What's the worst thing that could happen? She just doesn't
• 15:27
  Speaker 3: answer exactly, And then.
• 15:30
  Speaker 4: My broke tip. I've recently gotten into ringmaking, and.
• 15:34
  Speaker 2: I've seen on TikTok. Sorry, not even on TikTok. I
• 15:37
  Speaker 2: don't even know if you're on TikTok sometimes but mainly
• 15:40
  Speaker 2: sometimes mainly Instagram. Yeah, I've seen your videos on Instagram. Guys,
• 15:43
  Speaker 2: if you're not following back and you want some more
• 15:45
  Speaker 2: rogue content in your life, you never guess what comes
• 15:48
  Speaker 2: next on her Instagram stories. Thank you? Is that sweet?
• 15:52
  Speaker 2: Like I think it's great because like sometimes I'm like, oh,
• 15:55
  Speaker 2: look she's hanging out with her girlfriend.
• 15:56
  Speaker 3: That's so cute. Oh look she's making pottery. What I
• 15:59
  Speaker 3: didn't even know you made jewelry.
• 16:00
  Speaker 2: Where is this coming?
• 16:01
  Speaker 6: I know?
• 16:02
  Speaker 4: This was just like I don't know where a camera
• 16:03
  Speaker 4: ei love.
• 16:04
  Speaker 2: Oh she's making a video with no pants on for
• 16:07
  Speaker 2: a company in Brunswick. Oh okay, no worries.
• 16:09
  Speaker 3: Like that is wild.
• 16:12
  Speaker 4: They're so sweet.
• 16:13
  Speaker 7: Thank you.
• 16:13
  Speaker 3: I follow you tenaciously.
• 16:17
  Speaker 4: And you are like you boost me like no one
• 16:19
  Speaker 4: else like I know that you will be You'll be
• 16:22
  Speaker 4: in the comments you'll be in the likes.
• 16:23
  Speaker 3: I'm always at DMS need that I'm in your comments.
• 16:26
  Speaker 3: I'd like, I love it. I am obsessed.
• 16:28
  Speaker 4: I love it, thank you so much. But with silver rings,
• 16:31
  Speaker 4: so I kind of was googling it for ages and
• 16:34
  Speaker 4: I realized, like on Etsy and stuff, you can get
• 16:36
  Speaker 4: whole kits for like one hundred and fifty bucks, which
• 16:38
  Speaker 4: is like, so.
• 16:40
  Speaker 2: That's cheaper than most of my hobbies.
• 16:42
  Speaker 4: Yeah, it's like fine. But instead I went and there's
• 16:45
  Speaker 4: actually this jeweler or jewelry store in Melbourne. I'm sure
• 16:48
  Speaker 4: there are equivalents elsewhere. It's called Kudak k o o
• 16:52
  Speaker 4: d ak, and you can get gemstones for literally like
• 16:56
  Speaker 4: from twenty six cents.
• 16:57
  Speaker 3: To like ten dollars. Yeah, and you'm natural.
• 17:01
  Speaker 4: I love sparkling.
• 17:02
  Speaker 3: Oh my god, I'm a bird.
• 17:04
  Speaker 4: I just love this. And then you can get silver clay,
• 17:07
  Speaker 4: and so you can get a five gram little bag
• 17:11
  Speaker 4: that is like thirty dollars. You can get them either
• 17:14
  Speaker 4: on eBay or at this actual place, which is it
• 17:17
  Speaker 4: looks like it's tiny, but it will make one ring.
• 17:18
  Speaker 4: So let's say, for example, you are making a ring
• 17:21
  Speaker 4: for someone for their birthday, and you get three gemstones
• 17:23
  Speaker 4: with twenty six cents and they are natural gemstones, maybe
• 17:26
  Speaker 4: they lab grown sometimes I don't understan why they're so cheap.
• 17:29
  Speaker 4: I don't really get it, but all crap in it
• 17:32
  Speaker 4: and I'm happy, absolutely, Like I made an opal and
• 17:35
  Speaker 4: the ruby one because that's mine name, make your friend's birthstones,
• 17:38
  Speaker 4: and literally like they were big. They were two dollars each,
• 17:41
  Speaker 4: two dollars twenty six each.
• 17:43
  Speaker 2: I can't believe it.
• 17:43
  Speaker 4: But anyway, so silver clay and then you literally just
• 17:47
  Speaker 4: fire it in your own house.
• 17:48
  Speaker 1: I do stove.
• 17:50
  Speaker 4: It's and it's super quick, it's super easy. It's so cheap.
• 17:53
  Speaker 4: And then when you if you give someone a hand
• 17:54
  Speaker 4: made read, I would cry, what gorgeous? And it's real
• 17:57
  Speaker 4: silver too, I have to know.
• 17:58
  Speaker 3: Crazy so with silver clay.
• 18:00
  Speaker 2: And this is maybe me thinking outside of the box
• 18:03
  Speaker 2: because like my mum is obsessed with that like fingerprint jewelry,
• 18:07
  Speaker 2: so like for one of her birthdays, we brought her
• 18:10
  Speaker 2: one of those beautiful I think it's from Lynden Cook
• 18:12
  Speaker 2: stunning necklaces.
• 18:14
  Speaker 3: She's got this like chunky silver necklace.
• 18:15
  Speaker 2: She's got my sister's fingerprint, my fingerprint, my dad's print,
• 18:18
  Speaker 2: Like that's what she wanted. She thought it was very
• 18:21
  Speaker 2: very cute and I also love it, but like that
• 18:23
  Speaker 2: was not cheap. Could you put a fingerprint into the
• 18:27
  Speaker 2: silver clay?
• 18:28
  Speaker 3: Absolutely?
• 18:29
  Speaker 2: That is to make your own, like I don't know,
• 18:31
  Speaker 2: little charms for necklaces or like rings with them.
• 18:34
  Speaker 5: Yeah, the pets too, with the pets nose print, that's.
• 18:38
  Speaker 2: So cute to see. Where are you You just get
• 18:40
  Speaker 2: a little book and then yeah, yeah that's someone's business idea,
• 18:46
  Speaker 2: but it rings that is the dog does a boot.
• 18:49
  Speaker 4: You could make like little dog tags with silver dog tags,
• 18:52
  Speaker 4: like lip collar, so cute. So you could do anything
• 18:55
  Speaker 4: with the silver clay. And it's you're meant to like
• 18:58
  Speaker 4: torch fire it, but I broke mine own how and
• 19:00
  Speaker 4: so I just literally do what over the stove. You
• 19:01
  Speaker 4: just get some tweezers, be careful.
• 19:03
  Speaker 5: And it turned it into actual metal.
• 19:04
  Speaker 4: It turns to actual silver. It is crazy because it
• 19:06
  Speaker 4: still looks white. You gotta like rub all the whiteness
• 19:09
  Speaker 4: off when it's done. But there's a point where you
• 19:11
  Speaker 4: touch anything with the clay, it sounds like clay, and
• 19:15
  Speaker 4: then you do that again later on and it starts
• 19:18
  Speaker 4: clinking and you're like it's turned to silver.
• 19:21
  Speaker 5: I love, like, so this is a team activity.
• 19:24
  Speaker 3: Yeah, it is activity.
• 19:27
  Speaker 5: So I that is my both the Gemstone place again
• 19:30
  Speaker 5: sorry kudak k o d a k. And it's like
• 19:33
  Speaker 5: going back in time, like you go in there and
• 19:34
  Speaker 5: it's very like paper bags and I don't know that
• 19:37
  Speaker 5: makes sense.
• 19:37
  Speaker 4: I'm really not killing you.
• 19:38
  Speaker 3: No, I'm obsessed. I'm obsessed.
• 19:40
  Speaker 1: I love.
• 19:41
  Speaker 2: Let's go to a really quick break, guys, because on
• 19:43
  Speaker 2: the flip side, we're going to be answering money dilemma.
• 19:46
  Speaker 2: Is it a good idea to use the equity in
• 19:48
  Speaker 2: your home to then buy a new car? And something
• 19:50
  Speaker 2: is slid into our dms about being asked to contribute
• 19:53
  Speaker 2: to a trust rather than gifts for a one year
• 19:55
  Speaker 2: old's birth date, which I think is going to get
• 19:57
  Speaker 2: a little bit divisive.
• 19:58
  Speaker 3: So guys, don't go any anywhere.
• 20:04
  Speaker 5: Welcome back, everybody. Let's take a listen to this six
• 20:07
  Speaker 5: money dilemma.
• 20:10
  Speaker 6: Hi, there, have you got a money dilemma you just
• 20:12
  Speaker 6: can't solve?
• 20:13
  Speaker 2: The She's on the Money team is here to help.
• 20:16
  Speaker 2: Every week we tackle your dilemmas, both big and small,
• 20:19
  Speaker 2: to answer your most burning money, career and life questions.
• 20:22
  Speaker 2: To get involved, simply head to our website and leave
• 20:25
  Speaker 2: us a short voice recording, and you might just find
• 20:27
  Speaker 2: yourself on the show. Now, let's take a listen to
• 20:30
  Speaker 2: this week's money dilemma.
• 20:33
  Speaker 7: Hi Shees on the money, I've got a question about
• 20:35
  Speaker 7: buying a new car. I'm purchasing a new car and
• 20:37
  Speaker 7: I've been looking at interest rates for car loans and
• 20:40
  Speaker 7: they're quite high. I currently have equity in my homelan
• 20:43
  Speaker 7: and I'm wondering if I should use that to purchase
• 20:45
  Speaker 7: a new car. My home loan is three hundred and
• 20:50
  Speaker 7: fifty thousand and the value of my property is one
• 20:52
  Speaker 7: point one million. Am I better off buying the car
• 20:55
  Speaker 7: using the equity in my house and therefore having a
• 20:58
  Speaker 7: lower interest against that loan, or should I just keep
• 21:02
  Speaker 7: the car and the house separate. If I take your
• 21:05
  Speaker 7: equity out of the house to purchase the car, I
• 21:07
  Speaker 7: do plan to make extra payments to pay that down,
• 21:11
  Speaker 7: but it would obviously be at a lower interest rate
• 21:13
  Speaker 7: than if I got a car with a car loan.
• 21:16
  Speaker 7: What are your thoughts? Thank you?
• 21:18
  Speaker 3: What in the wealth right?
• 21:20
  Speaker 2: Sorry? You're only only three hundred grand on a million
• 21:22
  Speaker 2: dollar property? Money? Wein well done? I want to know
• 21:27
  Speaker 2: before I could just dive in, but like, what do
• 21:29
  Speaker 2: you reckon Jess using your equity?
• 21:33
  Speaker 5: Yeah, it's just a bit out of a thworsh of our.
• 21:35
  Speaker 5: I think the argument does make sense that if it's
• 21:38
  Speaker 5: at a lower interest rate, then it would be on
• 21:41
  Speaker 5: a car loan. I guess a loan is a loan,
• 21:43
  Speaker 5: and you're rolling it into your home loan. I guess
• 21:46
  Speaker 5: the only thing would be I don't know how it
• 21:50
  Speaker 5: works when you use equity to make a purchase. It's
• 21:53
  Speaker 5: not a house. Obviously, the payment terms on your home
• 21:56
  Speaker 5: loan more often than not around thirty years, so I
• 22:00
  Speaker 5: don't know if they would automatically don't even need to
• 22:02
  Speaker 5: be here where my brain was going, so like, if
• 22:06
  Speaker 5: you're going to stretch the payment out over thirty years,
• 22:09
  Speaker 5: then obviously that's like a lot. But then she did
• 22:11
  Speaker 5: say that she was planning on making extra payments. I
• 22:13
  Speaker 5: don't really know how it works, Like I'm assuming it
• 22:16
  Speaker 5: just rolled into.
• 22:16
  Speaker 2: Your existing loan.
• 22:17
  Speaker 5: It's not like you've got two separate things that.
• 22:19
  Speaker 2: You don't you don't roll into existing ones. But how
• 22:22
  Speaker 2: are you feelings? Like if I had access to eight
• 22:24
  Speaker 2: hundred grand equity, I'd be spending it.
• 22:26
  Speaker 4: Yeah, but equities always confused me because what I was
• 22:30
  Speaker 4: told was that equity you can use that as a
• 22:34
  Speaker 4: deposit for a new house. But I didn't know you
• 22:35
  Speaker 4: could just like.
• 22:36
  Speaker 2: Spend, Well, you can release equity as cash. So what
• 22:38
  Speaker 2: happens is like I, as you guys know mortgage broking business.
• 22:42
  Speaker 2: We might have a client come to us and let's
• 22:43
  Speaker 2: use her exact example, Hey, I owe three hundred grand
• 22:46
  Speaker 2: on the property I have, you know, one point one
• 22:50
  Speaker 2: million dollar property, Like that's what it's worth. So we
• 22:53
  Speaker 2: would calculate that she has about eight hundred thousand dollars
• 22:56
  Speaker 2: worth of equity. Now she could access some of that
• 23:00
  Speaker 2: equity and buy a new property, So you could use
• 23:03
  Speaker 2: some of that as a house deposit.
• 23:05
  Speaker 3: Most banks just.
• 23:06
  Speaker 2: Require a reason why they're releasing some of that because
• 23:09
  Speaker 2: they've got basically your big asset. So the bank has
• 23:12
  Speaker 2: what's called a caveat over that one point one million
• 23:14
  Speaker 2: dollar properties. So if everything went south and they're like, well,
• 23:17
  Speaker 2: Beck didn't pay her loans back, we're going to sell
• 23:21
  Speaker 2: her house and get our cash back, they're not that worried, right,
• 23:24
  Speaker 2: but they do want justification as to why you're getting
• 23:28
  Speaker 2: that money out and lots of people will you know,
• 23:30
  Speaker 2: take equity out to you know, I would say, most
• 23:33
  Speaker 2: commonly buy another property, so use that cash to not
• 23:37
  Speaker 2: have to save another deposit to get into their next home.
• 23:40
  Speaker 2: Or they might use that equity to buy a caravan
• 23:43
  Speaker 2: or go on a holiday, or they might buy a car.
• 23:46
  Speaker 2: Whether that's the best financial decision is up for debate,
• 23:50
  Speaker 2: because you could look at it as Okay, well they've
• 23:54
  Speaker 2: got all of this equity, and like, let's pretend your
• 23:56
  Speaker 2: home loan is still sitting at like five percent, right,
• 23:59
  Speaker 2: that is much much lower as an interest rate if
• 24:03
  Speaker 2: you have to borrow money, like if you don't have
• 24:05
  Speaker 2: the cash to pay for the car outright, five percent
• 24:09
  Speaker 2: is a lot lower than asset finance rates, which could
• 24:12
  Speaker 2: be honestly anywhere between eight and fifteen percent usually, So
• 24:16
  Speaker 2: if you just look at the interest rate, you might go, well,
• 24:19
  Speaker 2: that's better.
• 24:21
  Speaker 3: And that's what most of our clients do.
• 24:22
  Speaker 2: And I'm not saying it's a bad thing, because if
• 24:25
  Speaker 2: we are purely looking at it from a.
• 24:27
  Speaker 3: Debt perspective, that's fine.
• 24:29
  Speaker 2: But she is definitely on the right track because when
• 24:31
  Speaker 2: we do this for clients, we do make the recommendation
• 24:34
  Speaker 2: that you make additional payments because that equity is going
• 24:37
  Speaker 2: to be paid off over thirty years.
• 24:39
  Speaker 3: And like, if your home loan is.
• 24:41
  Speaker 2: Like twenty to thirty years left and you're borrowing fifty grand,
• 24:45
  Speaker 2: you're potentially paying that off for decades, which means, even
• 24:48
  Speaker 2: though it's a lower interest rate right now, it might
• 24:51
  Speaker 2: mean paying like eighty to one hundred thousand dollars in
• 24:54
  Speaker 2: interest over the life of the loan, which then you go, well,
• 24:56
  Speaker 2: that's dumb. Even though it feels like it's a money win,
• 25:00
  Speaker 2: it's not. So what I would do is calculate, well,
• 25:02
  Speaker 2: what monthly repayment could I afford for this car? Yes,
• 25:06
  Speaker 2: I'm going to build it into the equity of my home. Yes,
• 25:08
  Speaker 2: you're right, Jess in terms of it's not a separate loan,
• 25:10
  Speaker 2: it's just like additional But I'd be trying to pay
• 25:13
  Speaker 2: off that additional in like three to five years instead
• 25:16
  Speaker 2: of over thirty just to make sure that you're not
• 25:18
  Speaker 2: getting stung with the long term interest repayments, which over
• 25:22
  Speaker 2: a long time do actually add up what amount of
• 25:25
  Speaker 2: money fifty grand inequity on that property is genuinely going
• 25:29
  Speaker 2: to probably cost over like a thirty year period.
• 25:31
  Speaker 3: Another eighty tw one hundred.
• 25:32
  Speaker 2: Thousand dollars, which is obviously worse than the high interest
• 25:37
  Speaker 2: home loan over five years. Yeah, so you need to
• 25:39
  Speaker 2: make sure that you're making the right decision, not just
• 25:41
  Speaker 2: going well it's less interest, that's a better deal.
• 25:44
  Speaker 5: Right.
• 25:45
  Speaker 2: So I think that you would take, I would say,
• 25:47
  Speaker 2: a more balanced approach of well, I want a new car. Yes, great,
• 25:53
  Speaker 2: that's the decision we've made. How are we now going
• 25:56
  Speaker 2: to finance that? Can you afford additional repayments? And this
• 26:00
  Speaker 2: person has said yes they can, But if you can't,
• 26:02
  Speaker 2: I don't want you going to just take out more
• 26:04
  Speaker 2: equity and then being like, well it does a matter,
• 26:06
  Speaker 2: I'll pay it off over thirty years. Like that's going
• 26:08
  Speaker 2: to shoot you financially in the foot. So I think
• 26:10
  Speaker 2: I'm a bit conservative when it comes to that. But
• 26:12
  Speaker 2: like the reason I'm conservative is because I just don't
• 26:14
  Speaker 2: want you in more debt than you need to be in.
• 26:16
  Speaker 4: No. Absolutely, yeah, Well with equity is that I thought
• 26:20
  Speaker 4: it was like the amount that is a Let's say
• 26:22
  Speaker 4: you buy a house for five hundred thousand dollars and
• 26:24
  Speaker 4: then it's worth a million dollars later, you have five
• 26:26
  Speaker 4: hundred thousand dollars in equity. But equity in fact is
• 26:29
  Speaker 4: what I'm learning here is how much you've paid off.
• 26:31
  Speaker 2: No, not necessarily. So say I spend five hundred thousand
• 26:35
  Speaker 2: dollars on house, Yeah, and then I have my little
• 26:38
  Speaker 2: twenty percent deposit, which is a lot. I've got one
• 26:41
  Speaker 2: hundred thousand dollars in deposit right now, I have no
• 26:43
  Speaker 2: equity because when I look at the property value, it's
• 26:46
  Speaker 2: worth five hundred thousand dollars. The equity technically would be
• 26:49
  Speaker 2: that twenty percent deposit, but you can't use it because.
• 26:52
  Speaker 3: You've already paid for it.
• 26:53
  Speaker 2: Yes, Then a year later, I get my house revalued
• 26:56
  Speaker 2: and it's worth six hundred thousand dollars. I've now got
• 26:59
  Speaker 2: another hundred two thousand dollars because I've had my twenty percent,
• 27:02
  Speaker 2: and there's now thirty percent or more equity in that.
• 27:06
  Speaker 2: And I can actually use that cash or that value,
• 27:09
  Speaker 2: not necessarily what you've paid off, but that value in
• 27:11
  Speaker 2: that property to leverage you into other assets. So it's
• 27:15
  Speaker 2: not necessarily what you've had to pay off, but it
• 27:18
  Speaker 2: can be. So like if you paid off a heap
• 27:20
  Speaker 2: of your mortgage and you only owed a in this
• 27:23
  Speaker 2: listener's situation three hundred grand and on a million dollar
• 27:26
  Speaker 2: probably she's got a lot of equity. Maybe, and we
• 27:28
  Speaker 2: don't know her financial situation. What if she bought that
• 27:31
  Speaker 2: house for three hundred grand and then she just like
• 27:34
  Speaker 2: bought an absolute gem and it's scored up to a
• 27:36
  Speaker 2: million dollars. Or she could be the biggest best hustler
• 27:40
  Speaker 2: saver we've ever seen. She paid eight hundred grand off,
• 27:43
  Speaker 2: do you know what I mean? So, like it could
• 27:45
  Speaker 2: mean both things. But equity is accessible cash or capital
• 27:49
  Speaker 2: that exists in a secure asset that you can then
• 27:52
  Speaker 2: use for other funding purposes.
• 27:54
  Speaker 4: Like how it's.
• 27:55
  Speaker 5: Shares, you know, how you say, oh, my sharre's worth
• 27:58
  Speaker 5: a dollar, but it's only worth that if you sell it,
• 28:01
  Speaker 5: if you actualize the cost, your house is worth that
• 28:04
  Speaker 5: if you were to sell it, and.
• 28:05
  Speaker 2: The bank looks at that and says, well, the house
• 28:08
  Speaker 2: is worth a million dollars if we were to sell it.
• 28:10
  Speaker 2: So it's pretty comfortable if we gave Beck another fifty grand,
• 28:14
  Speaker 2: because ultimately, if she stopped paying her mortgage, we'd sell
• 28:17
  Speaker 2: her house out from underneath her and we'd get our
• 28:20
  Speaker 2: cash back.
• 28:20
  Speaker 3: So we kind of just don't mind as much, which
• 28:22
  Speaker 3: is why the interest rate is lower.
• 28:24
  Speaker 2: Because that's what's called a secured asset, because there's something
• 28:28
  Speaker 2: that the bank has this caveat over that they can
• 28:31
  Speaker 2: sell to get their money back, whereas unsecured debt, which
• 28:34
  Speaker 2: is where they go, oh, bet, shelves your income, shells
• 28:36
  Speaker 2: your assets. You seem like a nice person will give
• 28:39
  Speaker 2: you a loan. Well what happens if you got that
• 28:42
  Speaker 2: car stolen and it wasn't insured. Yeah, they can't sell
• 28:45
  Speaker 2: the car, so it's unsecured.
• 28:47
  Speaker 3: I see.
• 28:48
  Speaker 2: So there's unsecured and secured debts, and unsecured debt is
• 28:52
  Speaker 2: always going to be more expensive, which is why a
• 28:54
  Speaker 2: lot of people look at their equity in a pretty
• 28:56
  Speaker 2: favorable way.
• 28:57
  Speaker 4: I see, I see. Well, thank you for that very
• 29:00
  Speaker 4: informative and educational response.
• 29:03
  Speaker 2: Well, I don't know if this is going to get
• 29:04
  Speaker 2: better or worse. If I ask you, guys, do you
• 29:06
  Speaker 2: want to hear our listener dilemma from this week? But
• 29:11
  Speaker 2: I think it's going to be a little bit douicy
• 29:12
  Speaker 2: because I can't wait to see. And this is one
• 29:14
  Speaker 2: of those ones where I'm like, I don't know.
• 29:16
  Speaker 3: What you're going to say. So we got a DM
• 29:18
  Speaker 3: this week. Are you ready?
• 29:20
  Speaker 2: Hi, She's on the money. We were recently invited to
• 29:22
  Speaker 2: a first birthday party. In lieu of gifts, the parents
• 29:26
  Speaker 2: have asked guests to contribute to the Birthday Babies Trust account.
• 29:30
  Speaker 2: This is the first time I've come across this as
• 29:33
  Speaker 2: an idea. Is this a new norm now? I'm not
• 29:35
  Speaker 2: sure how I feel about it. On one hand, the
• 29:37
  Speaker 2: financial landscape is going to be hard enough for our children,
• 29:40
  Speaker 2: so whatever we can do to help. But on the
• 29:43
  Speaker 2: other hand, would love to know what you guys think.
• 29:47
  Speaker 4: M I feel like they're like, contribute to the party
• 29:51
  Speaker 4: that we're throwing, or contribute to There's something about specifically
• 29:55
  Speaker 4: contribute to my child's future.
• 29:59
  Speaker 2: I think like as long as.
• 30:01
  Speaker 4: Everyone is comfortable with some people putting in literally like
• 30:05
  Speaker 4: three dollars, Like right now, if someone asked me to
• 30:07
  Speaker 4: contribute to something, I'd be like, I literally have two
• 30:10
  Speaker 4: dollars to give you, and and that has to be
• 30:13
  Speaker 4: treated with the exact same level of respect and gratefulness
• 30:17
  Speaker 4: as one hundred thousand dollars. It's about like what you
• 30:21
  Speaker 4: can do, what you can afford to bring to the table.
• 30:24
  Speaker 4: If it's like a present, you can kind of get
• 30:27
  Speaker 4: away with hiding. If you don't have the money, you
• 30:29
  Speaker 4: can just repurpose something in your house. You can, like
• 30:32
  Speaker 4: there are ways to do it without actually spending any
• 30:33
  Speaker 4: money at all. Yeah, but if someone's like, can you
• 30:35
  Speaker 4: contribute financially, then that's like, well, that's really exposes people
• 30:39
  Speaker 4: that literally cannot do that.
• 30:41
  Speaker 3: So I don't I totally agree.
• 30:43
  Speaker 2: Yeah, Like I don't like that hypothetical though, please because
• 30:45
  Speaker 2: I would love to know rather than like, is this
• 30:48
  Speaker 2: and like, I get it, everyone's in a different financial situation,
• 30:51
  Speaker 2: and I think as a podcast we always address that.
• 30:54
  Speaker 2: But like, hypothetically you've got twenty bucks, and like I don't,
• 30:57
  Speaker 2: I don't know for a first birthday party, like I
• 30:59
  Speaker 2: would say presence of twenty to fifty bucks, Like depending
• 31:04
  Speaker 2: on what you're doing. If you're spending more than that,
• 31:06
  Speaker 2: pop off queen, but like I would say twenty to
• 31:08
  Speaker 2: fifty bucks. Let's pretend you've got twenty dollars. If somebody
• 31:12
  Speaker 2: if you were invited to, like, let's pretend it's my
• 31:14
  Speaker 2: son Harvey. I said, Beck, come to Harvey's birthday party.
• 31:17
  Speaker 2: And then on the invite, I said, could you contribute
• 31:20
  Speaker 2: to his trust account instead of you know, bringing a
• 31:22
  Speaker 2: gift and you've got twenty bucks to spend. Are you
• 31:26
  Speaker 2: happy spending that and just putting it into his trust
• 31:29
  Speaker 2: account or would you prefer to bring a present or like,
• 31:31
  Speaker 2: you know, were you never going to bring a present?
• 31:33
  Speaker 3: Like what does that look like?
• 31:35
  Speaker 4: I guess in that situation with the twenty dollars, I
• 31:38
  Speaker 4: would be like, I'm going to stretch this and I'm
• 31:40
  Speaker 4: going to find some I'm going to make like a
• 31:42
  Speaker 4: little hamper of cute toys and it will be very impactful.
• 31:46
  Speaker 4: But if you wanted that instead me to put that
• 31:48
  Speaker 4: into his trust fund, I would the only thing. And
• 31:51
  Speaker 4: this is probably me projecting, and I'm sure everyone.
• 31:53
  Speaker 3: No, that's what I want.
• 31:54
  Speaker 2: That's why I'm asking you if you had twenty bucks.
• 31:57
  Speaker 4: Well, this is this is where. This is where I
• 31:58
  Speaker 4: want the projection.
• 31:59
  Speaker 3: I want the thoughts.
• 32:00
  Speaker 4: This is the thing that gets tricken. I feel like
• 32:02
  Speaker 4: everyone who's maybe broken up poor or who sorry, or
• 32:05
  Speaker 4: anyone who's grown up or or is has been poor
• 32:08
  Speaker 4: later in life or whatever that is there's a feeling
• 32:11
  Speaker 4: of insecurity that should not be there, that is socialized,
• 32:13
  Speaker 4: that is like a taught to us, but which should
• 32:15
  Speaker 4: not be there. But it's unfortunately still there. So if
• 32:18
  Speaker 4: you said, if we all showed up with a present,
• 32:21
  Speaker 4: everyone would feel equal. Now it's trust fun Now you
• 32:24
  Speaker 4: can see that I've only given twenty dollars. Now I
• 32:26
  Speaker 4: feel like really embarrassed visible and it's very visible, and
• 32:30
  Speaker 4: it's very like you can't really hide that. And unfortunately,
• 32:32
  Speaker 4: like same with like at weddings when you have to
• 32:34
  Speaker 4: give money the cash, and it's like, well, now I'm
• 32:37
  Speaker 4: spending way more than I actually was going to. But
• 32:40
  Speaker 4: if I don't, then I'm exposing myself as But it's
• 32:43
  Speaker 4: it's if you take away all the emotion and the
• 32:46
  Speaker 4: shame that you might feel, and the projecting this insecurity,
• 32:50
  Speaker 4: like maybe you won't feel any of those things. Maybe
• 32:51
  Speaker 4: you're surrounded by people who can afford the exact same
• 32:54
  Speaker 4: as you. If you take all that away, it's still
• 32:57
  Speaker 4: like funny to like, I don't know, maybe ask for
• 32:59
  Speaker 4: money is like it's more useful than a gift sometimes,
• 33:02
  Speaker 4: so I'm all for it, but I think there's just
• 33:04
  Speaker 4: like it's so layered and it's so risky and you
• 33:06
  Speaker 4: don't want to make someone feel like shit, So absolutely not,
• 33:09
  Speaker 4: That's kind of where I'm at.
• 33:11
  Speaker 3: I agree.
• 33:12
  Speaker 5: I think The big negative is the visibility of what
• 33:15
  Speaker 5: you're giving, because it's like you can give someone a
• 33:18
  Speaker 5: gift that is worth fifty dollars, but maybe I got
• 33:20
  Speaker 5: it on sale and I only paid ten dollars for it.
• 33:23
  Speaker 3: It's nobody's business.
• 33:24
  Speaker 5: It's absolutely it's nobody's business. And like the cost of
• 33:26
  Speaker 5: the gift is not quantifiable against the love with which
• 33:30
  Speaker 5: it is given. But I do agree that it is
• 33:32
  Speaker 5: like in that situation, it's like a very clear cut,
• 33:35
  Speaker 5: Oh well, Jess gave five dollars and someone else gave
• 33:37
  Speaker 5: fifty dollars and it's you know, I can I completely agree.
• 33:40
  Speaker 5: I think that is the big negative of it. The
• 33:43
  Speaker 5: positives on it, from my perspective, there's a couple. One
• 33:46
  Speaker 5: is someone who doesn't have kids got it's so much
• 33:48
  Speaker 5: easier to just give them money than to try and
• 33:50
  Speaker 5: figure out what to get them, you know, like agree
• 33:52
  Speaker 5: gift giver.
• 33:53
  Speaker 3: I try to be Jess. For Harvey's was it Christmas
• 33:56
  Speaker 3: or no, it's his first birthday.
• 33:58
  Speaker 2: You got him that train, so it was like a
• 34:00
  Speaker 2: Fisher Price train and it's his favorite, like he's obsessed
• 34:04
  Speaker 2: with it, like Twain.
• 34:05
  Speaker 3: Twain, Twain sang place at the time, all the time.
• 34:09
  Speaker 2: And also just to shout out to Jessica for getting
• 34:12
  Speaker 2: a toy that has buttons with lots of noise.
• 34:14
  Speaker 4: So good.
• 34:15
  Speaker 2: But I do get one that you can switch the
• 34:16
  Speaker 2: noise off, love you, but he knows how to turn
• 34:18
  Speaker 2: it on.
• 34:20
  Speaker 5: But yeah, so I think that, like it is hard,
• 34:23
  Speaker 5: especially as kids get older as someone who doesn't have kids,
• 34:25
  Speaker 5: and like, yes, you obviously can ask the parents. That's
• 34:27
  Speaker 5: usually what I'll do. Or you know, I knew that
• 34:29
  Speaker 5: my nephew really liked that presence, so I was like,
• 34:30
  Speaker 5: Harvey will probably like something similar. But it is like
• 34:33
  Speaker 5: so much easier to just go all right, here's the cash.
• 34:37
  Speaker 5: It is nice to know that it will contribute to
• 34:39
  Speaker 5: their future. We know, like we the three of us
• 34:41
  Speaker 5: and the listeners to know so much the power of
• 34:44
  Speaker 5: compounding interest, So twenty bucks now in fifteen years is
• 34:47
  Speaker 5: quite a bit more so, like that's nice to know.
• 34:50
  Speaker 5: And I do also think it can beat a lot
• 34:52
  Speaker 5: of the wastefulness. So I know of my friends they
• 34:55
  Speaker 5: go god like obviously very grateful for the things that
• 34:58
  Speaker 5: we get.
• 34:59
  Speaker 3: You know, gives a gratitude.
• 35:01
  Speaker 5: What is a kid going to do with fifteen trains
• 35:04
  Speaker 5: or like fifteen new toys, Like they don't need it,
• 35:07
  Speaker 5: They grow out of things quickly. There is an element
• 35:10
  Speaker 5: of wastefulness there too, which again the money kind of negates.
• 35:14
  Speaker 5: I personally would be fine with it, yeah, on the assumption.
• 35:18
  Speaker 5: And I mean I can obviously speak for my friends.
• 35:19
  Speaker 5: I know whatever amount I was to give someone they
• 35:22
  Speaker 5: would be thankful for it would be a non issue.
• 35:24
  Speaker 5: But I also totally get the stress of like it's
• 35:28
  Speaker 5: as you were saying, similar to weddings, like, oh, like,
• 35:30
  Speaker 5: is what I'm giving appropriate in line with everybody else,
• 35:33
  Speaker 5: Like I don't want to send the wrong message by
• 35:35
  Speaker 5: giving the wrong amount of money. Like that is more
• 35:38
  Speaker 5: complex then, I think, like if it's a conversation that's
• 35:40
  Speaker 5: been had or you know, when I think about like
• 35:44
  Speaker 5: your baby shower, eat, you said, oh, everyone bring a
• 35:46
  Speaker 5: book if you want to give a gift, Like obviously
• 35:48
  Speaker 5: gifts are not necessary, but if you really want to
• 35:50
  Speaker 5: bring something with love a book. So I think if
• 35:52
  Speaker 5: it was communicated in that way, like gifts are totally
• 35:55
  Speaker 5: not necessary. Your presence is the present type of vibe.
• 35:58
  Speaker 5: But if you did want to contribute thing, we'd love
• 36:00
  Speaker 5: to for you to contribute to their future by putting.
• 36:03
  Speaker 2: Some money for us, like just to give a bit
• 36:06
  Speaker 2: more context to that for us, So it was not
• 36:08
  Speaker 2: so much about like getting gifts, but getting things that
• 36:12
  Speaker 2: to me were very special to share with Harvey. So
• 36:16
  Speaker 2: like the additional context there is, like we asked for
• 36:18
  Speaker 2: your favorite childhood book and you could have gone to
• 36:21
  Speaker 2: kmart and gotten a ten dollar book like that's or Gabby,
• 36:25
  Speaker 2: actually who I speak about, I don't know a lot,
• 36:28
  Speaker 2: but she used to be my EA and then went
• 36:31
  Speaker 2: to work at the AFL, which I'm very proud of
• 36:33
  Speaker 2: her for, but she's also a very good friend of mine. Now,
• 36:37
  Speaker 2: she actually gifted me the legitimate book that she had
• 36:40
  Speaker 2: growing up that had like a few coloring in things
• 36:43
  Speaker 2: from when she was three and drew in it. It's
• 36:45
  Speaker 2: called Koala Lu just so you know, and she wrote
• 36:47
  Speaker 2: the most beautiful message in the front four Harvey being like,
• 36:50
  Speaker 2: this was my favorite book growing up and I can't
• 36:52
  Speaker 2: wait for you to read it. So that didn't cost
• 36:54
  Speaker 2: her a dollar, but I would say it's one of
• 36:55
  Speaker 2: my most prized possessions for Harvey because, like you know,
• 37:00
  Speaker 2: everybody wrote we asked for books in lieu of cards
• 37:02
  Speaker 2: and gifts, and like if you're going to write a card,
• 37:04
  Speaker 2: please write it in the front of the book. And
• 37:06
  Speaker 2: now whenever I'm reading to Harvey, he gets this book
• 37:09
  Speaker 2: and I go, this one's from Jess, or like this
• 37:12
  Speaker 2: one's from Beck And that was really to me, really sweet,
• 37:15
  Speaker 2: but that was what we were looking for. Not everyone
• 37:17
  Speaker 2: is in the financial position as well for a baby
• 37:20
  Speaker 2: shower to be asking only for books. You might actually
• 37:23
  Speaker 2: need the car seat paid for, and I totally get that.
• 37:25
  Speaker 2: But for me, it's like I don't feel comfortable asking
• 37:28
  Speaker 2: for gifts. But that's again a personal situation and like
• 37:32
  Speaker 2: each to their own, right.
• 37:34
  Speaker 5: Like, I guess that's the one other thing is you
• 37:36
  Speaker 5: miss out on the sentimentality, Like there is something really
• 37:39
  Speaker 5: joyful about knowing you've given something to a child and
• 37:41
  Speaker 5: they love it. It becomes their favorite toy or their
• 37:43
  Speaker 5: favorite book. Yeah, it's I guess also a very selfish thing, right,
• 37:46
  Speaker 5: like going, oh, I love knowing that I gave that
• 37:49
  Speaker 5: to you and you love that.
• 37:50
  Speaker 2: But I love that, And I don't know. I think
• 37:52
  Speaker 2: there's something about when you talk about kids, it's also
• 37:55
  Speaker 2: about connection and like building that connection. Like, don't get
• 37:58
  Speaker 2: me wrong, like Jess, I'm not trying to downplate it
• 38:01
  Speaker 2: at all. You gave my son a plastic train. He's
• 38:04
  Speaker 2: so obsessed with it and he loves it, and whenever
• 38:07
  Speaker 2: he's playing with it, I'd like send us a picture
• 38:08
  Speaker 2: and be like, oh my god, he's still on about
• 38:10
  Speaker 2: the bloody train. And it's just like you want to
• 38:14
  Speaker 2: feel part of their lives. And I get that you're
• 38:17
  Speaker 2: in the background building their lives because you've contributed to
• 38:20
  Speaker 2: their trust. But I also think that that can be complex.
• 38:24
  Speaker 2: So I think it would be for me around the
• 38:26
  Speaker 2: articulation of that request as like a fai if you
• 38:31
  Speaker 2: know you were planning on getting a gift and like
• 38:33
  Speaker 2: also didn't want to have to go shopping. Here's our
• 38:35
  Speaker 2: trust that we're building up and maybe giving a bit
• 38:38
  Speaker 2: more context, like to build Harvey's wealth in the future,
• 38:41
  Speaker 2: or to hopefully one day get him into his first
• 38:43
  Speaker 2: home or something, or for his education or whatever it is.
• 38:46
  Speaker 2: I feel like if it was presented as an option
• 38:49
  Speaker 2: rather than a do not bring gifts, contribute to the
• 38:51
  Speaker 2: trust kind of thing, I think that changes it because
• 38:54
  Speaker 2: you're right, like you might want to show up with
• 38:55
  Speaker 2: a gift, and I think that that's.
• 38:57
  Speaker 4: You might have a gift come in nature away.
• 38:59
  Speaker 2: Yeah, because I've talked about it before and maybe I
• 39:02
  Speaker 2: could do a whole episode on how you know. And again,
• 39:05
  Speaker 2: I would like to acknowledge my privilege, which I feel
• 39:08
  Speaker 2: like I am consistently doing, but also don't want anyone
• 39:11
  Speaker 2: to feel less than because this is what I'm doing,
• 39:13
  Speaker 2: but I don't expect other people to do it. But
• 39:15
  Speaker 2: when Harvey was born, we established an investment bond on
• 39:19
  Speaker 2: his behalf and I don't even care. I'll just tell
• 39:22
  Speaker 2: you we put ten thousand dollars in there because I
• 39:25
  Speaker 2: was like, okay, cool, ten thousand dollars. And then in
• 39:27
  Speaker 2: my head we will probably contribute around five hundred dollars
• 39:31
  Speaker 2: at a minimum each year. So in my head, I'm like, cool,
• 39:33
  Speaker 2: we'll probably be able to do that, Like two hundred
• 39:36
  Speaker 2: fifty dollars at his birthday, two hundred and fifty dollars
• 39:38
  Speaker 2: at Christmas kind of is.
• 39:39
  Speaker 3: Where our heads are at. Is that an expectation for
• 39:42
  Speaker 3: everybody else? Absolutely not.
• 39:43
  Speaker 2: This is just me in the financial situation I am
• 39:46
  Speaker 2: in going. I want it to be reasonable, but I
• 39:49
  Speaker 2: also want to make sure that I'm building a secure
• 39:51
  Speaker 2: financial future for Harvey, and like we will do this
• 39:53
  Speaker 2: for every other child that we hopefully have in the future.
• 39:56
  Speaker 2: And I know that based on my ex financial advisor
• 40:01
  Speaker 2: predictions and you know projections, I should say, with a
• 40:05
  Speaker 2: ten thousand dollar initial deposit and then just like five
• 40:08
  Speaker 2: hundred dollars a year, by the time he's fifty, he'll
• 40:10
  Speaker 2: be worth one point four mil. That's a good deal.
• 40:14
  Speaker 3: Yeah, And that's got nothing to do with inheritance. It's
• 40:17
  Speaker 3: got nothing to do with any of that. So that's
• 40:19
  Speaker 3: the power of it.
• 40:20
  Speaker 2: Why, Like, that's why your parents or their parents probably
• 40:23
  Speaker 2: want you to contribute, because they're like, you know, we've
• 40:24
  Speaker 2: done the numbers, and like, we're gonna put this kid
• 40:26
  Speaker 2: in the best possible financial position. But you're also asking
• 40:29
  Speaker 2: for something that I think not everybody has it the moment,
• 40:32
  Speaker 2: and that's disposable income.
• 40:34
  Speaker 3: And I just I don't know.
• 40:36
  Speaker 2: I don't like asking people for money, which is why
• 40:39
  Speaker 2: I'm so like passionate about like teaching you how to
• 40:42
  Speaker 2: create your own financial security and your own financial futures.
• 40:45
  Speaker 2: And you know that probably comes from my money story
• 40:48
  Speaker 2: of you know, not always having a lot, and being
• 40:51
  Speaker 2: like I need to set Harvey up because what if
• 40:52
  Speaker 2: he's in that position and like, I don't know, yeah,
• 40:55
  Speaker 2: money still makes me anxious.
• 40:57
  Speaker 5: As well, totally what did everybody else say?
• 40:59
  Speaker 2: Oh?
• 40:59
  Speaker 3: Color color?
• 41:00
  Speaker 2: Al So, As always, we ask a few questions before
• 41:03
  Speaker 2: we get into the two cents. First question I asked
• 41:05
  Speaker 2: was how would you feel if you read this on
• 41:07
  Speaker 2: a first birthday invitation?
• 41:10
  Speaker 3: Thirty eight percent of you said I love it.
• 41:12
  Speaker 2: Yeah, because it's a.
• 41:13
  Speaker 3: Chese on the money community.
• 41:14
  Speaker 2: I reckon, Yeah, I don't know if the general consensus
• 41:17
  Speaker 2: across Australia would be the same. Thirty six percent said
• 41:19
  Speaker 2: it gives me the ick. Okay, also fair, and twenty
• 41:23
  Speaker 2: six percent of you said I'm actually quite torn.
• 41:26
  Speaker 3: We then asked, would you end up contributing to the trust?
• 41:29
  Speaker 2: Forty six percent of you said yep, don't see a
• 41:31
  Speaker 2: problem with it, Thirty two percent said yeah, but just
• 41:34
  Speaker 2: to avoid the drama, eleven percent said no, I'd still
• 41:37
  Speaker 2: be buying a gift, and eleven percent again same, said
• 41:41
  Speaker 2: I would be turned off doing either of those things.
• 41:44
  Speaker 2: You know what I feel like, each to their own.
• 41:46
  Speaker 2: It's all part of our money story and what we
• 41:48
  Speaker 2: can and can't afford. I don't know, because like we've
• 41:51
  Speaker 2: just sat here. If I was asked by one of
• 41:53
  Speaker 2: you who had a kid, I'd be like, pop off, queen,
• 41:56
  Speaker 2: I love this, like because that's just part of my nature.
• 41:59
  Speaker 2: But then you're such a gift giver and like a
• 42:01
  Speaker 2: gift maker that I think you'd be disappointed that you
• 42:04
  Speaker 2: didn't get that opportunity.
• 42:05
  Speaker 4: Yeah, definitely.
• 42:06
  Speaker 2: So everybody's different, and that's why I think it shouldn't
• 42:09
  Speaker 2: be presented as a we aren't accepting gifts. We only
• 42:12
  Speaker 2: accept this just as a hey, FYI, because I don't
• 42:16
  Speaker 2: know there might be people out there that are like, oh, oh,
• 42:19
  Speaker 2: chuck twenty bucks in your trust account, and I'm also
• 42:21
  Speaker 2: going to get you a train, like do you know
• 42:23
  Speaker 2: what I mean? Like, have you met grandparents? They're so
• 42:26
  Speaker 2: extra like they might be all over that. But then
• 42:29
  Speaker 2: your friends are kind of like, oh, I'm not so interested.
• 42:31
  Speaker 2: Let's just present it as a nice option as opposed
• 42:34
  Speaker 2: to an expectation. Absolutely, we also obviously then said, guys,
• 42:39
  Speaker 2: what's your two cents? I gave my kids shares last Christmas.
• 42:43
  Speaker 2: And I think it's a great idea. Yes, because it
• 42:46
  Speaker 2: was you. Yeah, Like, we're not asking other people, hey,
• 42:49
  Speaker 2: can you please buy my kid? Vanguard High Growth? Like
• 42:52
  Speaker 2: the next person said it's like contributing to a honeymoon fund,
• 42:56
  Speaker 2: and for me, that's a no thank you. Another person
• 42:59
  Speaker 2: said it's awkward to ask people, but I do sell
• 43:01
  Speaker 2: unwanted gifts, and then I put that money into an account.
• 43:04
  Speaker 3: For my girls.
• 43:05
  Speaker 5: Yeah.
• 43:06
  Speaker 2: I did get for Harvey's first birthday, I got three
• 43:11
  Speaker 2: sets of the same book series.
• 43:12
  Speaker 4: Right, that's the same.
• 43:14
  Speaker 3: And I don't know if I should be admitting this here.
• 43:17
  Speaker 2: Actually, you know what, whatever, I regifted one of them
• 43:19
  Speaker 2: and I put another one on Facebook marketplace. Yeah, he
• 43:22
  Speaker 2: got the cash, don't worry. And technically that gift was
• 43:25
  Speaker 2: given by Harvey to another baby. Yeah, but great book set.
• 43:30
  Speaker 2: I shouldn't have mentioned that I liked it because three
• 43:32
  Speaker 2: people will listen. Another person said I'd probably be annoyed
• 43:36
  Speaker 2: that I hadn't thought of the idea.
• 43:38
  Speaker 3: For myself and for my kids.
• 43:39
  Speaker 4: I love that day.
• 43:41
  Speaker 2: Another person said, can we make this the norm? I'm
• 43:43
  Speaker 2: turning thirty seven soon.
• 43:46
  Speaker 4: I'll take shares for my birthday.
• 43:47
  Speaker 2: Yes, I should start just gifting people shares. Another person said, well,
• 43:53
  Speaker 2: how much a gift might spend up to thirty dollars,
• 43:55
  Speaker 2: But I would feel like I'm not enough putting thirty
• 43:58
  Speaker 2: dollars into a trust. I feel like that's too much pressure. Yeah,
• 44:01
  Speaker 2: which I think is really aligned to what you're saying back.
• 44:03
  Speaker 4: Definitely.
• 44:04
  Speaker 2: Another person said, first birthdays are already really weird. Kid
• 44:07
  Speaker 2: won't even remember. Feels like a weird money grab. Again,
• 44:12
  Speaker 2: everybody has an opinion. It's money. Turns out, that's why
• 44:15
  Speaker 2: it's taboo or used to be taboo to talk about.
• 44:17
  Speaker 2: And I'm just going to share one more. My baby
• 44:19
  Speaker 2: turned one this week, and you just get so much stuff.
• 44:22
  Speaker 2: I kind of wish this was an option. Yeah, I
• 44:25
  Speaker 2: think you're going to get differing opinions from everybody, right totally.
• 44:29
  Speaker 5: But like it's all in the communication, and it's all
• 44:31
  Speaker 5: in like what feels good to you.
• 44:32
  Speaker 4: I'm not gonna lie.
• 44:33
  Speaker 2: There is nothing more heartwarming, and Jess, you've got to
• 44:36
  Speaker 2: experience this firsthand than a tiny one year old ripping
• 44:40
  Speaker 2: into a present and not even sure what they're doing. Yeah,
• 44:43
  Speaker 2: it's so cue joy on their face as they realize it's.
• 44:47
  Speaker 6: Not just the paper.
• 44:51
  Speaker 4: That's so cute, it's oh my god.
• 44:53
  Speaker 2: It's like, so don't get me wrong, Like, I can
• 44:55
  Speaker 2: see the joy, I can see how it might make
• 44:57
  Speaker 2: people anxious as well. But I think it's more about
• 45:00
  Speaker 2: framing these things as an option rather than an expectation.
• 45:03
  Speaker 4: Absolutely.
• 45:04
  Speaker 3: Oh my god, it's like you should communicate clearly.
• 45:08
  Speaker 2: That's so weird. All right, great place to leave it, guys.
• 45:11
  Speaker 2: Thank you so much for joining us, and we hope
• 45:13
  Speaker 2: you have the best ever weekend and we'll see you
• 45:16
  Speaker 2: right early on Monday for a money dary.
• 45:18
  Speaker 3: Bye guys.
• 45:18
  Speaker 5: Bye.
• 45:25
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• 45:27
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• 45:31
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• 45:35
  Speaker 6: not be relied upon to make an investment or financial decision.
• 45:38
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• 45:46
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• 45:50
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• 45:58
  Speaker 6: five one two eight nine.
• 46:04
  Speaker 4: To deplete the