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How Much Should You Really Have in Savings? And What To Do If Your Financial Advice Feels Wrong · She's On The Money

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  Speaker 1: My Name'satasha Bamblet. I'm a proud First Nations woman and
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  Speaker 1: I'm here to acknowledge country t Glenn Young Ganya Niana
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  Speaker 1: Kaka yah y and beIN Ahaka Nian our gay In
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  Speaker 1: Mbini yakarum Jar Dominyamika Umagahawaka Woman Damon Imlan Bumba ban
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  Speaker 1: Gadabomba in and now in wakah ghan On yak rum
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  Speaker 1: Jar water Nadaa. Hello, beautiful friends, we gather on the
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  Speaker 1: lands of the Aboriginal people. We thank, acknowledge and respect
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  Speaker 1: the Abiginal people's land that we're gathering on today. Take
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  Speaker 1: pleasure 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.
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  Speaker 3: She's on the Money.
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  Speaker 4: Hello and welcome to She's on the Money, the podcast
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  Speaker 4: that makes personal finance fun, especially on Fridays. It's our
• 1:15
  Speaker 4: favorite day of the week because we get our little
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  Speaker 4: team together. It's especially little today to celebrate you how incredible.
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  Speaker 4: She's on the Money community. Miss Jesse Garci is here
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  Speaker 4: as always sharing our favorite money wins. Beck still away,
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  Speaker 4: so I'm going to be sharing this week's broke Tips.
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  Speaker 3: This week we'll be.
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  Speaker 4: Helping to answer a money dilemma that asks how much
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  Speaker 4: money should you actually have in savings and something that
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  Speaker 4: you slid into our dms about what happens when you're
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  Speaker 4: not sure about advice you were given from a financial advisor.
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  Speaker 3: Oh, how's your week being, though, Jess Lovely.
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  Speaker 2: I went to the snow for the first time shop week,
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  Speaker 2: which was very fun. I'd only ever seen snow ones
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  Speaker 2: and it was when I was hiking mountains, so that was.
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  Speaker 4: That's not that interesting, No, so I and it would
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  Speaker 4: have been just like a little bit slushy, not really real.
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  Speaker 3: Which mountain did you go to?
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  Speaker 2: It was Kilimanjari, so it was pretty hectic up the top,
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  Speaker 2: but I was so tired that I really wasn't just I.
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  Speaker 5: Didn't even notice that. It was my first time in
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  Speaker 5: my life.
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  Speaker 2: Seeing snow, and I didn't even clock it because I
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  Speaker 2: was just like walking along. So yeah, so going to
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  Speaker 2: the snow for the first time is really fun.
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  Speaker 3: But did you ski or did you snowboard?
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  Speaker 2: I snowboarded because everyone I was with with snowboarding, and
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  Speaker 2: I thought I just.
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  Speaker 3: Can't imagine it. You give skier vibes. I'm so sorry.
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  Speaker 4: I'm also so envious because I haven't had time and
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  Speaker 4: this is like the biggest first world problem. I haven't
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  Speaker 4: had time to like work out when we are going
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  Speaker 4: to go to the snow and like, Loki, I'm off
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  Speaker 4: to Bali like next week, which I'm really excited about,
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  Speaker 4: and that was what was prioritized. But my husband two
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  Speaker 4: weeks ago went for like just a midweek ski trip
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  Speaker 4: with his friends, and I was like.
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  Speaker 3: One, Okay, that's fine, like have a good time.
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  Speaker 4: Yeah, but I had a single parent And then all
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  Speaker 4: he's doing is sending me photos of him skiing, and
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  Speaker 4: so then now you're like, I went to the snow too,
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  Speaker 4: so envious.
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  Speaker 5: Makes time we can go together? How is your we been?
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  Speaker 5: Apart from that, I.
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  Speaker 3: Am prepping for BALI like low key.
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  Speaker 4: I feel like all I'm doing is talking about it
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  Speaker 4: at the moment, I think because I'm like, you know,
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  Speaker 4: when you're just like excited to get away. It's been
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  Speaker 4: so sluggish here, it's been cold. I feel like the
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  Speaker 4: wind this year is like extra ikey. So just the
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  Speaker 4: idea I'm gonna go to somewhere warm and get to
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  Speaker 4: get to eat a mass amount of like Nazi goring
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  Speaker 4: and have a drink beside a pool, and my baby
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  Speaker 4: is going to be there. But like it's been taking
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  Speaker 4: a lot more planning than you know, just my husband
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  Speaker 4: and I going out to Bali, so like making sure
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  Speaker 4: that Harvey has swim nappies.
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  Speaker 3: I've been picking up this week, making.
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  Speaker 4: Sure he has like enough hats and rash fest and
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  Speaker 4: like I'm just packing for another human being that I
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  Speaker 4: also want to swaddle in cotton wool, you know.
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  Speaker 5: M hmm.
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  Speaker 2: Yeah, I need to ask you what your recommendations are,
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  Speaker 2: because I seeing about this recently. We had friends who
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  Speaker 2: have for dinner and they've got kids, and I was like,
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  Speaker 2: they've just they come in, They've got like they've got
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  Speaker 2: to do trips from the car, right because obviously we
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  Speaker 2: don't have kids.
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  Speaker 5: You've got the high chair.
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  Speaker 3: And the mad we cannot fly with carry on only anymore.
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  Speaker 2: Literally, it's not possible. And I was thinking, oh, it
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  Speaker 2: would be nice if I could just like you know,
• 4:14
  Speaker 2: do some looking on marketplace and find you just really
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  Speaker 2: cheap versions of all of these things, so it's like
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  Speaker 2: less things for my friends to have to lug around,
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  Speaker 2: So I'll have to pick your brain on like what
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  Speaker 2: the essentials are to just have.
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  Speaker 3: Yeah, I would say a portcot yep.
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  Speaker 4: And I would say some form of high chair, but
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  Speaker 4: like high chairs take up a lot of space, so
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  Speaker 4: maybe like those booster seats tabletop one. Yeah that can
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  Speaker 4: like sit on the dining chairs that you already have,
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  Speaker 4: because like I don't know, lots of people have lots
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  Speaker 4: of different opinions, but like I like having my baby
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  Speaker 4: involved in the conversation, Like I want him to sit
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  Speaker 4: at the table.
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  Speaker 3: Yeah, Like he doesn't have.
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  Speaker 4: A high chair with a tray off to the side,
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  Speaker 4: Like his high chair is one that I purposefully could
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  Speaker 4: put under the like dining table with us, So I
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  Speaker 4: feel that.
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  Speaker 3: And maybe just like a big tub of bloe.
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  Speaker 5: Yeah yeah, something good, something universal.
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  Speaker 4: Yeap, something universal that they can play with that like
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  Speaker 4: kind of promotes creative play. But also like you can
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  Speaker 4: pack away because I'm assuming you don't want your house
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  Speaker 4: to look like kids live there.
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  Speaker 3: Right now it looks like toy World. It's all over
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  Speaker 3: my lound room.
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  Speaker 5: Oh fun, So.
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  Speaker 4: Let's move on from there, because I'm not gonna lie.
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  Speaker 4: I don't love that my entire Loungdroom is now a
• 5:24
  Speaker 4: toy shot. Would you like a five star review?
• 5:28
  Speaker 5: Oh, I would love one.
• 5:29
  Speaker 4: I'm glad because we've got a really good one this week.
• 5:31
  Speaker 4: So this one is from Morgan. She says the podcast
• 5:35
  Speaker 4: every Woman Needs. I have been an avid list of
• 5:39
  Speaker 4: the podcast for over five years. I just want to
• 5:41
  Speaker 4: say a huge thank you to Victoria, Jess and Beck
• 5:44
  Speaker 4: and the whole She's on the Money team for completely
• 5:47
  Speaker 4: transforming my money mindset. I went from six thousand dollars
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  Speaker 4: in debt after a Mexico trip with zero savings to
• 5:55
  Speaker 4: having more than fifty thousand dollars invested in ETFs and
• 5:59
  Speaker 4: a super bows, well above the average for my age.
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  Speaker 3: Thanks to your advice.
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  Speaker 4: I grew up with an abundance mindset and never felt
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  Speaker 4: like I ever went without.
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  Speaker 3: But I saw the other side.
• 6:10
  Speaker 4: Through my dad, now tens of thousand dollars in credit
• 6:14
  Speaker 4: card debt, forced to sell his luxury car and move
• 6:17
  Speaker 4: in with his ninety six year old mum with nothing
• 6:20
  Speaker 4: to his name. That hit me really hard. Thanks to
• 6:23
  Speaker 4: your podcast, and now truly value the importance of looking
• 6:27
  Speaker 4: after future me. You've changed my life and I'll be
• 6:30
  Speaker 4: a loyal listener forever. It literally is the highlight of
• 6:33
  Speaker 4: my week. Much love Walks.
• 6:35
  Speaker 3: That's so nice. Thank you, it's literally my favorite.
• 6:39
  Speaker 4: Like please, don't get me wrong, like everybody loves a
• 6:42
  Speaker 4: good review, but like knowing that the content that we
• 6:46
  Speaker 4: make changes lives, not just all.
• 6:49
  Speaker 1: I love what you do.
• 6:50
  Speaker 3: Thanks, It's like, sorry, did we like help you? You
• 6:54
  Speaker 3: did all the work. I'm not trying to take.
• 6:56
  Speaker 4: Credit for that, but like, sorry, please tell me more
• 7:00
  Speaker 4: stories like this. Absolutely, they made me so excited.
• 7:03
  Speaker 2: That's incredible, and how incredible you can then use that
• 7:06
  Speaker 2: information to hopefully pass on and help your family.
• 7:08
  Speaker 3: Exactly as equally exciting.
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  Speaker 4: Every single week we ask you to share your money
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  Speaker 4: wins and confessions with us, and then Jess goes through
• 7:15
  Speaker 4: that thread and brings what she deems.
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  Speaker 3: To be the best money wins and confessions to the show.
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  Speaker 3: What have you got this week, Jess?
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  Speaker 2: It's always hard to choose, but I'll start off this
• 7:23
  Speaker 2: week with one from Catherine, who said she has her
• 7:26
  Speaker 2: citizenship ceremony this week and she wanted to get a
• 7:28
  Speaker 2: special dress for the special occasion. She fell in love
• 7:31
  Speaker 2: with one she tried on in David Jones, but it
• 7:33
  Speaker 2: was three hundred and forty dollars. She went home to
• 7:37
  Speaker 2: think about it and found the exact dress with tags
• 7:39
  Speaker 2: still attached, for sale on deepop for eighty bucks including postage.
• 7:43
  Speaker 2: She then got herself a pair of tenderly heels on
• 7:45
  Speaker 2: Facebook marketplace, and she said she's so chuffed.
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  Speaker 4: Literally you can probably see my comment only yah already
• 7:50
  Speaker 4: because I've been there and I am excited.
• 7:52
  Speaker 3: Also, welcome, friend, you are now one of us.
• 7:54
  Speaker 2: Congratulations the beautiful little odd news number two for anyone
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  Speaker 2: who adnews.
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  Speaker 3: Stresses are so expensive, but like also just so beautifully cut.
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  Speaker 2: They look gorgeous, and I love that the girl's a
• 8:05
  Speaker 2: female owner. She documents on TikTok. Anyway, I'm sure it's
• 8:08
  Speaker 2: people have seen that. I just think it's very cool. Next,
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  Speaker 2: I've got a money win from Sienna who said she
• 8:12
  Speaker 2: changed her passport to her married name for.
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  Speaker 5: Free in New South Wales.
• 8:16
  Speaker 2: Sorry what and instead of putting the existing expiry date
• 8:20
  Speaker 2: of two and a half years from now, they gave
• 8:22
  Speaker 2: her a full ten year passport for free. What Isn't
• 8:25
  Speaker 2: that crazy? I don't know if that's maybe she just
• 8:27
  Speaker 2: got lucky and that's not the standard.
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  Speaker 4: No, I think it is standard if you get married
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  Speaker 4: and you change your name, like, you can apply to
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  Speaker 4: have your stuff updated.
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  Speaker 3: They're like, oh, no, we won't charge you for that.
• 8:36
  Speaker 2: Yes, you you can find the form online and get
• 8:39
  Speaker 2: it done. Next, I've got a money win from Grace,
• 8:41
  Speaker 2: who said she had lots of Flybys points so she
• 8:43
  Speaker 2: decided to treat herself to an Apple Watch off their store,
• 8:46
  Speaker 2: and then she still had points left over afterwards.
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  Speaker 4: That is actually so good. I still tell every man
• 8:50
  Speaker 4: in his dog about your kitchen aid mixer.
• 8:52
  Speaker 2: Oh it's just the best. Every time I use that
• 8:54
  Speaker 2: kitchen aid. I feel so good about it.
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  Speaker 3: You're just like, this was free.
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  Speaker 5: I know I'm making something with love.
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  Speaker 2: Next, I've got of money in from Irena, who said
• 9:02
  Speaker 2: money in and pet tax. She's been cat sitting as
• 9:05
  Speaker 2: a side hustle for two and a half years and
• 9:07
  Speaker 2: she now has plenty of regular customers.
• 9:09
  Speaker 5: But she also keeps getting new ones.
• 9:11
  Speaker 2: She said this past week and she expanded her business
• 9:13
  Speaker 2: by adding a new species to her bought folioir stop it,
• 9:17
  Speaker 2: and getting herself a new regular client. And she said,
• 9:19
  Speaker 2: meet Sonny the ferret.
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  Speaker 5: And I've got to say.
• 9:22
  Speaker 3: Ferrots a ferrets are so cute.
• 9:26
  Speaker 5: Oh my god, look at that little tidy way. Oh
• 9:28
  Speaker 5: I did I screenshot a big one?
• 9:30
  Speaker 4: I follow a ferret on TikTok. Actually, I actually can't
• 9:34
  Speaker 4: be trusted. I like look at other people's TikTok feeds
• 9:38
  Speaker 4: and they're like, you know, productive or like cooking and whatnot,
• 9:41
  Speaker 4: a minor like ducks. I've got ferrets. I look at
• 9:44
  Speaker 4: cat videos. There's this girl I follow and she has
• 9:46
  Speaker 4: that cat called Juni.
• 9:48
  Speaker 5: Oh I love ye.
• 9:50
  Speaker 4: I watched every single Junior video like, I'm sorry, Like,
• 9:53
  Speaker 4: I just look at pictures of animals.
• 9:55
  Speaker 2: That's what the Internet's for, in its trurest, purest form.
• 9:58
  Speaker 2: The Internet is for funny.
• 10:00
  Speaker 1: Sorry.
• 10:00
  Speaker 4: I just stopped following anybody who made me feel bad
• 10:03
  Speaker 4: about myself, anybody who made me feel like I needed
• 10:05
  Speaker 4: to buy stuff. I was like, unfollow immediately, and then
• 10:08
  Speaker 4: I'd follow another duck page.
• 10:10
  Speaker 5: Yeah, you've really trained that algorithm.
• 10:12
  Speaker 2: Next, I've got a money win from Lucy, who said
• 10:14
  Speaker 2: she sent a message to someone at her workplace saying, hey,
• 10:17
  Speaker 2: if you ever want a hand running the cooking classes
• 10:19
  Speaker 2: that they run, she was happy to help out.
• 10:21
  Speaker 5: Yeah, turns out.
• 10:22
  Speaker 2: It's turned into almost an extra six thousand dollars a
• 10:25
  Speaker 2: year in extra income. Story what she said, it may
• 10:27
  Speaker 2: even double beyond that because they run craft workshops as well,
• 10:31
  Speaker 2: and so she might be brought on to do that.
• 10:32
  Speaker 2: She said, Yes, technically I'm working more hours, but it's
• 10:35
  Speaker 2: different from her main role and it's something she will enjoy.
• 10:37
  Speaker 2: I want to know where you work that you get
• 10:39
  Speaker 2: to do cooking classes and craft workshops, because that sounds
• 10:41
  Speaker 2: like a job.
• 10:41
  Speaker 3: I would very much like to have. Please don't tell her.
• 10:44
  Speaker 3: I don't want her to leave.
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  Speaker 5: So yes, that's so funny.
• 10:48
  Speaker 2: And then lastly, this week, I've got a money win
• 10:50
  Speaker 2: from another Lucy. This time Lucy was an Eye. She
• 10:52
  Speaker 2: said she got an email from Booper saying that they
• 10:54
  Speaker 2: had gifted her fifty dollars to spend on their online
• 10:57
  Speaker 2: reward store. She locked in and she decided to get
• 11:00
  Speaker 2: herself two twenty five dollar Ubery Its vouchers. She said,
• 11:03
  Speaker 2: it's perfect for a girl who works shift work and
• 11:06
  Speaker 2: she has sometimes it's a sleep all day after a
• 11:08
  Speaker 2: long night shift and she just want to make dinner
• 11:09
  Speaker 2: when she wakes up, so she can just file the
• 11:11
  Speaker 2: little gift cards away for later.
• 11:12
  Speaker 3: I love that. That is a good little wrap up
• 11:14
  Speaker 3: of the group this week, Jess, thank you.
• 11:17
  Speaker 5: Have you got some brog tips that Beck sent you?
• 11:19
  Speaker 6: I do?
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  Speaker 3: Are you ready?
• 11:21
  Speaker 1: So?
• 11:21
  Speaker 4: The first one is from Ebony and she said, students
• 11:25
  Speaker 4: and concessions get into the Immigration Museum in Melbourne for free.
• 11:30
  Speaker 4: It's a warm place and such a fun way to.
• 11:33
  Speaker 3: Spend a day. I'm sorry, that's genius. Lou has another
• 11:38
  Speaker 3: tip for us.
• 11:39
  Speaker 4: She said, to avoid paying full price at cotton On
• 11:42
  Speaker 4: in store, always check their online prices first because they
• 11:46
  Speaker 4: will price match their online store in store.
• 11:49
  Speaker 5: Oh, I've done this one many a time.
• 11:51
  Speaker 3: Yep, she said. I've got up to fifty percent off
• 11:54
  Speaker 3: retail twice doing this.
• 11:55
  Speaker 5: That's so clever.
• 11:57
  Speaker 4: And last brog tip comes from Leanna and she says,
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  Speaker 4: I'm at the end of my two week pay cycle
• 12:02
  Speaker 4: and I typed in what things I had in my
• 12:04
  Speaker 4: fridge and pantry and wrote into chat GPT my location
• 12:08
  Speaker 4: to come up with dinner plans for five nights under
• 12:11
  Speaker 4: one hundred dollars. Not only did it come up with
• 12:13
  Speaker 4: a wicked plan, I had sixty bucks left over as a.
• 12:17
  Speaker 3: Mum of three.
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  Speaker 4: This is a bloody money when in my books, and
• 12:20
  Speaker 4: now I don't need to dip into next week's food budget.
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  Speaker 5: That's incredible.
• 12:24
  Speaker 2: You would be amazed at how much stuff there is
• 12:26
  Speaker 2: in your pantry that you can turn into a meal
• 12:27
  Speaker 2: with a little creativity.
• 12:28
  Speaker 4: One one hundred percent, And you know what, it doesn't
• 12:31
  Speaker 4: even need creativity. Sometimes you just need a fresh mind,
• 12:34
  Speaker 4: because like the amount of times I've been like I
• 12:36
  Speaker 4: have nothing and then look something up online and I'm
• 12:38
  Speaker 4: like I heard everything, and.
• 12:41
  Speaker 3: You don't even have to go to cold exactly.
• 12:43
  Speaker 4: Well, Jess, let's go to a really quick break because
• 12:45
  Speaker 4: on the flip side, I'm very excited we get to
• 12:48
  Speaker 4: answer a money dilemma that asks how much money should
• 12:51
  Speaker 4: we actually have in our savings account? Which I think
• 12:53
  Speaker 4: is very ballid and something that you slid into our
• 12:56
  Speaker 4: dms about this week, what happens when you're not sure
• 12:59
  Speaker 4: about the the financial advisor gave you? Don't go anywhere, guys,
• 13:06
  Speaker 4: Welcome back, everybody.
• 13:08
  Speaker 5: Let's take a listen to this week's money dilemma.
• 13:12
  Speaker 7: Hi, there, have you got a money dilemma you just
• 13:15
  Speaker 7: can't solve? The Shees on the Money team is here
• 13:17
  Speaker 7: to help. Every week, we tackle your dilemmas, both big
• 13:21
  Speaker 7: and small, to answer your most burning money, career and
• 13:23
  Speaker 7: life questions. To get involved, simply head to our website
• 13:27
  Speaker 7: and leave us a short voice recording and you might
• 13:29
  Speaker 7: just find yourself on the show.
• 13:30
  Speaker 3: Now, let's take a listen to this week's money dilemma. Hi, team,
• 13:36
  Speaker 3: I hope you're all well.
• 13:38
  Speaker 6: How can I work out how much money is ideal
• 13:41
  Speaker 6: to have in my savings account? I have a reliable
• 13:44
  Speaker 6: weekly income, an emergency fund with another bank, and I
• 13:48
  Speaker 6: regularly invest in shares through dollar cost averaging. However, I've
• 13:51
  Speaker 6: heard Victoria and others speak about not keeping much cash
• 13:55
  Speaker 6: in savings. I want to maximize every dollar, but I
• 13:58
  Speaker 6: also don't want to access miamigency fund until an actual emergency,
• 14:02
  Speaker 6: So I'm keen to know how to work out how
• 14:04
  Speaker 6: much to keep in savings. Thanks Tane, have a great day.
• 14:07
  Speaker 3: By yes, how much money do you think we should
• 14:10
  Speaker 3: have in savings?
• 14:11
  Speaker 2: I feel like there's no should, Like there's no correct
• 14:14
  Speaker 2: answer to that, right because it's going to be so
• 14:16
  Speaker 2: different for everybody. You're saving set aside for something you know.
• 14:19
  Speaker 2: For me, the bulk of my savings is going to
• 14:21
  Speaker 2: a house deposits. Obviously, I've got a number that I'm
• 14:24
  Speaker 2: working towards for that, but that's relative to the house
• 14:26
  Speaker 2: that I'm purchasing. If you're saving for a holiday or
• 14:28
  Speaker 2: a car or whatever you're saving for, you know, you
• 14:31
  Speaker 2: might have a goal number in mind. I think the
• 14:34
  Speaker 2: principle that she's referring to is more so the fact
• 14:37
  Speaker 2: that you want your money to be working hard, like
• 14:40
  Speaker 2: like with your investments. But our listeners saying she's already
• 14:42
  Speaker 2: got her investments going. I don't think it's a bad
• 14:45
  Speaker 2: thing to have money sitting in a high interest savings account,
• 14:47
  Speaker 2: and obviously like find the best option you can for you,
• 14:50
  Speaker 2: the account that's giving you the best interest rate.
• 14:53
  Speaker 5: But as to how much savings.
• 14:55
  Speaker 2: You should have outside of your emergency fund, which typically
• 14:58
  Speaker 2: we say around three months of expenses where possible, it
• 15:02
  Speaker 2: really just depends on what you're saving for and what
• 15:04
  Speaker 2: you're comfortable with, and you know how much you were
• 15:07
  Speaker 2: able to save.
• 15:08
  Speaker 5: Like how long is a piece of string is really
• 15:10
  Speaker 5: the question.
• 15:10
  Speaker 4: And it's a hard bit, right because we know from
• 15:14
  Speaker 4: research that most Australians unable to access five hundred dollars
• 15:19
  Speaker 4: should an emergency pop up, like they have to rely
• 15:22
  Speaker 4: on credit. So I kind of want to draw attention
• 15:25
  Speaker 4: to that before answering the question, because I think in
• 15:28
  Speaker 4: this current economic climate, having savings is a privilege, not
• 15:32
  Speaker 4: a given. And if you're in a situation where you're
• 15:35
  Speaker 4: listening to this and you're like, what do you mean
• 15:36
  Speaker 4: how much I should have in savings, I can't save queen.
• 15:40
  Speaker 3: We see you, we get it.
• 15:42
  Speaker 4: But on the flip side, I do think it comes
• 15:44
  Speaker 4: back to your values and what you're working towards. Like,
• 15:47
  Speaker 4: let's pretend and this listener wrote in and said, you
• 15:50
  Speaker 4: know I'm not talking about my emergency fund. Yes, well,
• 15:53
  Speaker 4: I don't know planning on a baby? Are you saving
• 15:56
  Speaker 4: for a house deposit? Like there's actually no right or wrong. Personally,
• 16:01
  Speaker 4: Steve and I have our and like this is just
• 16:03
  Speaker 4: our personal situation. We have our emergency fund, which is
• 16:08
  Speaker 4: sitting in an offset account to our mortgage.
• 16:11
  Speaker 3: And then we have our cash hub or like.
• 16:13
  Speaker 4: Our you know, transactions account, which is where all of
• 16:16
  Speaker 4: the money builds up for like our bills, our regro whatever,
• 16:20
  Speaker 4: and that gets direct debited also an offset to our mortgage,
• 16:24
  Speaker 4: and we have a little bit of what i'd call,
• 16:26
  Speaker 4: you know, like a float. So like if you work
• 16:28
  Speaker 4: in retail, you know you always start with maybe like
• 16:30
  Speaker 4: five hundred dollars in the till at the start of
• 16:32
  Speaker 4: the day, so we have the right change, we have
• 16:34
  Speaker 4: a float, and in that I think it's like about
• 16:36
  Speaker 4: two thousand dollars give or take, and that's like the
• 16:39
  Speaker 4: base amount. So in case like someone's red ro comes
• 16:42
  Speaker 4: out and it was unexpected, there's always going to be
• 16:46
  Speaker 4: money in that account. So for me, I wouldn't say
• 16:48
  Speaker 4: that savings. That's just the structure of like our quote
• 16:51
  Speaker 4: spending account. And then for savings, it really depends on
• 16:55
  Speaker 4: what our goals are, Like we save for holidays, we
• 16:59
  Speaker 4: save four or you know, a house deposit. We're putting
• 17:01
  Speaker 4: some extra money aside in case we need a little
• 17:04
  Speaker 4: bit more money if we're purchasing a bigger property, And
• 17:08
  Speaker 4: you know, I think it's really based on your values.
• 17:11
  Speaker 3: Like my savings had a.
• 17:13
  Speaker 4: Little bit of a different trajectory when we were having Harvey,
• 17:17
  Speaker 4: Like I had worked out how much I needed for
• 17:19
  Speaker 4: like a gosh and a change table in all of
• 17:21
  Speaker 4: that other stuff, and a pramp. Oh my lord, different conversation,
• 17:25
  Speaker 4: Why the heck a pram so expensive?
• 17:27
  Speaker 3: Jess, what do you mean it doesn't even have a motor.
• 17:31
  Speaker 4: It should absolutely no, they should be self driving at
• 17:34
  Speaker 4: this point. If you're more than fifteen hundred dollars, I'm sorry,
• 17:38
  Speaker 4: what the heck? Anyway, I think it's really up to
• 17:41
  Speaker 4: your values. There's no right or wrong when it comes
• 17:44
  Speaker 4: to like how much you should have in savings. I
• 17:47
  Speaker 4: think you need to ask yourself some questions. What are
• 17:49
  Speaker 4: your values, what are you working towards? What would you
• 17:52
  Speaker 4: spend your money on if you had savings, Because if
• 17:55
  Speaker 4: it's like, oh, I don't have anything I would spend
• 17:58
  Speaker 4: money on, like Steve and I, and this is just
• 18:01
  Speaker 4: like my personal situation, and I feel.
• 18:03
  Speaker 1: Like that I don't know.
• 18:04
  Speaker 3: He helps contextualize it.
• 18:07
  Speaker 4: I don't actually want all of our money sitting in
• 18:10
  Speaker 4: offsets to our mortgage because don't get me wrong, it's
• 18:12
  Speaker 4: offsetting interest payable and that's a money win. But both
• 18:16
  Speaker 4: of us are quite aware that we'll make more money
• 18:19
  Speaker 4: and that money is working even harder if it's in
• 18:21
  Speaker 4: an investment. So like, we don't sit on a lot
• 18:25
  Speaker 4: of savings just purely because we're like, we have our
• 18:27
  Speaker 4: emergency fund, we have our little float. Every single month,
• 18:30
  Speaker 4: when our incomes come into that account, they're divvied up
• 18:33
  Speaker 4: and you know, when we were planning for a baby
• 18:36
  Speaker 4: and we were saving for Harvey to come along, and
• 18:39
  Speaker 4: when we are planning for a holiday, we actually figure
• 18:42
  Speaker 4: out our investments and like flip that around a little
• 18:45
  Speaker 4: bit so that we go, Okay, we'll have the savings
• 18:47
  Speaker 4: for that particular event, but then we revert back to
• 18:49
  Speaker 4: sending as much as possible to an investment. Yeah, but
• 18:52
  Speaker 4: that's going to be different for everybody. Yeah, based on
• 18:55
  Speaker 4: your priorities and stuff.
• 18:56
  Speaker 3: Yeah, one hundred percent. And I think that's it. Learn
• 18:58
  Speaker 3: your priorities. It will tell you how much you need
• 19:01
  Speaker 3: in savings. Anything else to add.
• 19:04
  Speaker 2: Just no, I think that about covers it. Should we
• 19:05
  Speaker 2: get into the juicy d I'm so excited.
• 19:07
  Speaker 4: Yes, of course, this is my favorite segment and I
• 19:09
  Speaker 4: hate that we always have to wait until the end
• 19:11
  Speaker 4: of the episode every single week to do it.
• 19:12
  Speaker 3: All right, So this is the DM we got help.
• 19:15
  Speaker 4: My fiance and I have seen a financial advisor who's
• 19:18
  Speaker 4: recommended we add my name to his house title, which
• 19:21
  Speaker 4: is his asset, and open a joint share portfolio with
• 19:25
  Speaker 4: my savings. I've got about one hundred thousand dollars that
• 19:28
  Speaker 4: we both keep contributing to. I don't want to add
• 19:31
  Speaker 4: my name to the title. I'm a dual citizen, and
• 19:34
  Speaker 4: it can mean I have to pay capital gains tax
• 19:37
  Speaker 4: on the house if we ever sold, and also cuts
• 19:40
  Speaker 4: me off from the first homeowners grant in the future.
• 19:43
  Speaker 4: After listening to so much financial advice to protect yourself,
• 19:48
  Speaker 4: it feels uncomfortable to put his name on my life savings.
• 19:51
  Speaker 4: But we're also getting married soon and to keep it
• 19:54
  Speaker 4: separate doesn't sit right either.
• 19:56
  Speaker 3: What would you recommend?
• 19:59
  Speaker 5: There's lots to unpack. There isn't that.
• 20:00
  Speaker 3: Oh my god, what would you do?
• 20:01
  Speaker 1: Yess?
• 20:02
  Speaker 5: I think so.
• 20:03
  Speaker 2: The first thing that jumped out is the comment that
• 20:05
  Speaker 2: you'll have to pay capital gains if you sell a house.
• 20:07
  Speaker 2: I believe anyone would have to pay capital gains on
• 20:09
  Speaker 2: the profit you do.
• 20:09
  Speaker 4: It's a little bit different if you're a dual citizen
• 20:12
  Speaker 4: because you've got international attacks to take into consideration. So
• 20:15
  Speaker 4: you are not wrong, yeah, but it also is a
• 20:17
  Speaker 4: little bit it's a little bit different.
• 20:19
  Speaker 3: Yeah, got it?
• 20:19
  Speaker 5: Okay.
• 20:20
  Speaker 2: I would say, have you said this to your financial advisor,
• 20:23
  Speaker 2: because from my understanding of financial advisor is going to
• 20:25
  Speaker 2: look at your situation, give you like their opinion on Well,
• 20:28
  Speaker 2: this is what I would do if I was in
• 20:30
  Speaker 2: your circumstances. But you're well within your right to say
• 20:33
  Speaker 2: to them, oh, thank you for the advice. You know
• 20:35
  Speaker 2: exactly what you just said to us, Like I am not, like,
• 20:38
  Speaker 2: I don't want to waste my opportunity to take advantage
• 20:40
  Speaker 2: of first home biogrants. I ideally would like to keep
• 20:44
  Speaker 2: my savings independent or my investments independent. Or perhaps he's
• 20:48
  Speaker 2: recommended putting his name on it.
• 20:50
  Speaker 5: I don't really know.
• 20:50
  Speaker 2: Maybe there's some benefit tax wise or something like that.
• 20:53
  Speaker 2: I don't know how that works. I'm not a financial advisor. Shocking,
• 20:56
  Speaker 2: but you know, you can have a conversation with them.
• 20:58
  Speaker 2: I would say and say, hey, what are my other options?
• 21:02
  Speaker 5: I don't like X, Y and Z.
• 21:03
  Speaker 2: Can you give me an alternative? Like, it's not as
• 21:05
  Speaker 2: if they lay down the law and that's it. They're
• 21:07
  Speaker 2: giving you their best recommendation, but they're also like, they
• 21:11
  Speaker 2: will operate within the framework that you provide them. So
• 21:13
  Speaker 2: if you hadn't said to them at the beginning, we
• 21:15
  Speaker 2: want to keep our assets separate, their recommendation is not
• 21:18
  Speaker 2: going to take that into account. Yeah, So I would
• 21:20
  Speaker 2: say just go back to your unless for some reason,
• 21:23
  Speaker 2: you were unhappy with them or their advice. I would say,
• 21:25
  Speaker 2: go back to the same advisor and tell them exactly
• 21:27
  Speaker 2: what you told us and get them to do a
• 21:29
  Speaker 2: different work up for you.
• 21:31
  Speaker 3: Oh, just be really honest.
• 21:34
  Speaker 4: As an ex financial advisor, this question makes me really uncomfortable.
• 21:38
  Speaker 4: And the reason for that is I feel like you
• 21:41
  Speaker 4: haven't been listened to and by the time you get
• 21:45
  Speaker 4: to erosola or like your statement of advice and your
• 21:47
  Speaker 4: financial advisor is putting all of your recommendations on the
• 21:51
  Speaker 4: table and going all right, Jess, this is what you
• 21:53
  Speaker 4: guys should be doing, or like this puts you in
• 21:55
  Speaker 4: the best possible position.
• 21:57
  Speaker 3: I should know you so deeply, like I should be.
• 22:00
  Speaker 4: Talking to you, Jess about like your thoughts, your values,
• 22:03
  Speaker 4: what you want to achieve. Like your financial advisor relationship,
• 22:08
  Speaker 4: I would say, is one of the you know, this
• 22:10
  Speaker 4: is maybe just not how other advisors work, but from
• 22:13
  Speaker 4: my perspective, it's one of the most intimate relationships you'll
• 22:17
  Speaker 4: ever have because I'm going to talk to you about
• 22:19
  Speaker 4: a lot of things. I'm going to talk to you
• 22:20
  Speaker 4: about your budgeting great, I'm going to talk to you
• 22:22
  Speaker 4: about investing. I'm going to talk to you about your savings.
• 22:25
  Speaker 4: I'm going to talk to you about your superinnuation and
• 22:27
  Speaker 4: your insurances, and doing all of that touches on lots
• 22:30
  Speaker 4: of different life aspects. So when I do your insurances,
• 22:34
  Speaker 4: I actually need to ask you a lot of deep
• 22:38
  Speaker 4: questions about your medical history and to have the best
• 22:41
  Speaker 4: and the biggest impact and to put you in the
• 22:42
  Speaker 4: best possible position. Jess, You've got to be comfortable telling me.
• 22:46
  Speaker 4: You've got to talk to me about whether you you know,
• 22:48
  Speaker 4: broke your knee in grade twelve and had to get
• 22:52
  Speaker 4: like a pin in it. I need to know if
• 22:54
  Speaker 4: you've had any very serious sexually transmitted diseases.
• 22:58
  Speaker 3: I actually, for some people, and I still think this
• 23:01
  Speaker 3: is quite backwards.
• 23:02
  Speaker 4: If you're in a same sex relationship, I actually need
• 23:05
  Speaker 4: to know a little bit about how much you've been
• 23:06
  Speaker 4: sleeping round.
• 23:07
  Speaker 3: Like your insurance.
• 23:10
  Speaker 4: Application for asks, And because i'm your advisor and I
• 23:14
  Speaker 4: don't ever want you to submit an application that's not complete,
• 23:18
  Speaker 4: or like you might see a question and be like, oh,
• 23:21
  Speaker 4: that's worth skipping, I don't really want to give them
• 23:23
  Speaker 4: that answer. It could mean an instant decline. So back
• 23:26
  Speaker 4: when I was an advisor, I would sit with every
• 23:28
  Speaker 4: single client and do your application together, even though it
• 23:32
  Speaker 4: was arduous and honestly kind of boring, because go, I
• 23:35
  Speaker 4: actually don't care about your sexual history. I really don't.
• 23:38
  Speaker 4: It's none of my business. And like you do you,
• 23:41
  Speaker 4: but I need to know these things to put you
• 23:43
  Speaker 4: in the best possible position. So the fact that I
• 23:46
  Speaker 4: get to ask all of this, I also get to
• 23:48
  Speaker 4: be like, hey, jes low key, like do you think
• 23:49
  Speaker 4: you'll have a divorce your husband?
• 23:51
  Speaker 3: Hey? So what's going on here? How do you want
• 23:53
  Speaker 3: to set this up?
• 23:54
  Speaker 4: You know, are there any inheritances that you might be
• 23:57
  Speaker 4: getting that I need to structure a trust for in
• 24:00
  Speaker 4: the future. Like, we're asking some pretty deep questions, so
• 24:04
  Speaker 4: I should know you, Yeah, I should know what would
• 24:06
  Speaker 4: make you a little bit uncomfortable. I should have already
• 24:08
  Speaker 4: asked about your savings, Jesse. If you're saying you've got
• 24:10
  Speaker 4: one hundred thousand dollars in savings, gol, how did you
• 24:13
  Speaker 4: get that?
• 24:14
  Speaker 3: What happens?
• 24:14
  Speaker 4: What's your intention? Why did you start saving? Was it
• 24:18
  Speaker 4: because you wanted your first home? And have I asked
• 24:21
  Speaker 4: if you wanted to do that on your own? Even
• 24:23
  Speaker 4: if you've got a husband, you can still go get
• 24:25
  Speaker 4: your first homeowners granted by your first apartment on your
• 24:28
  Speaker 4: own doesn't mean you're moving into it. It might be
• 24:30
  Speaker 4: an investment for financial security for you. So the idea
• 24:35
  Speaker 4: that your advisor has made advisements that you're like, oh,
• 24:40
  Speaker 4: I don't really feel comfortable with this. Also, sorry, how
• 24:43
  Speaker 4: does your future husband feel about putting the house in
• 24:46
  Speaker 4: your name?
• 24:47
  Speaker 2: Like?
• 24:48
  Speaker 3: Do not get me wrong.
• 24:49
  Speaker 4: You're about to get married, which means that your finances
• 24:52
  Speaker 4: are likely legally going to become intertwined. But we could
• 24:56
  Speaker 4: be talking here about a binding financial agreement, going okay, cool,
• 25:00
  Speaker 4: You're both coming into this with separate assets. They're called
• 25:02
  Speaker 4: pre marrital assets. If you get a divorce. If this
• 25:06
  Speaker 4: doesn't work out, what's he taking versus what you're taking?
• 25:09
  Speaker 4: Could we get on the same page about that. The
• 25:11
  Speaker 4: idea that we're just quickly labeling it and blumping it
• 25:14
  Speaker 4: all into one thing makes me relatively uncomfortable. You're also
• 25:19
  Speaker 4: not on a level playing field, Like, you've got one
• 25:22
  Speaker 4: hundred thousand dollars in savings, but he actually owns an
• 25:26
  Speaker 4: existing house and I'm assuming that you know, maybe he
• 25:28
  Speaker 4: bought it a few years ago. There might be more
• 25:30
  Speaker 4: than one hundred thousand dollars worth of equity in that property, Like,
• 25:33
  Speaker 4: are we comfortable with this? Like I could have made
• 25:36
  Speaker 4: that recommendation as a financial advisor, and we're not saying
• 25:38
  Speaker 4: it's wrong, But I would never want a client to
• 25:41
  Speaker 4: see that recommendation on paper and either be surprised by
• 25:43
  Speaker 4: it or not feel comfortable with it. It would be
• 25:45
  Speaker 4: a recommendation where I've gone, oh, what if we I've
• 25:48
  Speaker 4: already asked the questions, You're already comfortable with it before
• 25:51
  Speaker 4: we've come to the conclusion of getting it on paper.
• 25:54
  Speaker 3: And I mean, you're not wrong. You are a dual citizen.
• 25:56
  Speaker 4: This change is tax It also stops you from accessing
• 25:59
  Speaker 4: the first homeowners grant. It makes me wonder if you're
• 26:03
  Speaker 4: saying that you can't access that.
• 26:05
  Speaker 3: I don't know.
• 26:06
  Speaker 4: This is just making me overthink Jess. But like if
• 26:08
  Speaker 4: you're saying, oh, that means I'm tapped out of that?
• 26:11
  Speaker 3: Sorry?
• 26:12
  Speaker 4: Is property a priority for you? Accessing that grant? Was
• 26:14
  Speaker 4: that a priority for you? Why isn't your advisor planning
• 26:17
  Speaker 4: around that?
• 26:19
  Speaker 3: I don't know.
• 26:19
  Speaker 4: I just feel like there's been a few things that
• 26:23
  Speaker 4: have been skipped over. I can't make any recommendations of
• 26:26
  Speaker 4: what you should do, because obviously I can't. But my
• 26:29
  Speaker 4: recommendation would be get more advice or talk to your advisor.
• 26:32
  Speaker 4: I don't think you're being selfish here. I actually think
• 26:35
  Speaker 4: you're being really smart. Like financial vulnerability, it's never romantic,
• 26:39
  Speaker 4: like there's nothing sexy about it, and protecting yourself doesn't
• 26:42
  Speaker 4: mean that you don't love your partner. Lets we need
• 26:45
  Speaker 4: to put ourselves in the best possible position, Jess, that's
• 26:47
  Speaker 4: why we exist as a business. I guess think of
• 26:51
  Speaker 4: it as future you saying thank you for being thoughtful today, Like, yeah,
• 26:55
  Speaker 4: I don't know. I just I feel uncomfortable with the
• 26:57
  Speaker 4: idea that you're not comfortable with advice, that you're ad
• 27:00
  Speaker 4: is giving you to.
• 27:01
  Speaker 2: Play devil's advocate, and I agree, like you are so
• 27:03
  Speaker 2: well entitled, and I think we all know. I'm the
• 27:05
  Speaker 2: biggest proponent for saying protect your own asset to look
• 27:08
  Speaker 2: after yourself first, Like I'm not saying that's the wrong choice.
• 27:11
  Speaker 2: But I also think it would be worth asking your
• 27:12
  Speaker 2: advisor why they gave you the advice, because it may
• 27:15
  Speaker 2: be that.
• 27:15
  Speaker 3: Where'd this come from, Like is it more advantageous?
• 27:18
  Speaker 5: Correct?
• 27:19
  Speaker 2: My assumption would be that they made the recommendation to
• 27:21
  Speaker 2: do that for a reason. So maybe like if they
• 27:24
  Speaker 2: were to say to you, oh, well, it's because you're
• 27:26
  Speaker 2: a dual citizen and so by doing XYZ you can
• 27:28
  Speaker 2: alleviate this taplele Like, as I said, I don't know
• 27:30
  Speaker 2: what leavers and polleys there are because I don't know
• 27:32
  Speaker 2: enough about that world. But there may be a reason
• 27:35
  Speaker 2: they've made the recommendation that you're not aware of. So
• 27:37
  Speaker 2: talking to them before going, oh, I need to get
• 27:40
  Speaker 2: a different opinion, I think would be quite weird.
• 27:42
  Speaker 4: When I was an advisor, Like, don't get me wrong,
• 27:45
  Speaker 4: you didn't know everything that was going to be in
• 27:47
  Speaker 4: your say because I hadn't sat down and written it yet.
• 27:50
  Speaker 3: But the surprises that.
• 27:51
  Speaker 4: Were in your statement of advice, like when you sat
• 27:54
  Speaker 4: down and I presented the advice to you, would have
• 27:56
  Speaker 4: not been, oh, we're going to invest you already. Would
• 27:59
  Speaker 4: have not that that's kind of going to become a
• 28:01
  Speaker 4: part of the plan because we're having conversation about it. Yeah,
• 28:04
  Speaker 4: But the surprises would have been with gtfs I'm picking
• 28:07
  Speaker 4: for you, or which direct shares I'm picking for you,
• 28:10
  Speaker 4: or you know, we knew we were going to do
• 28:12
  Speaker 4: your insurances, we just don't know who we're going with,
• 28:15
  Speaker 4: and your statement of advice would have the insurer I
• 28:19
  Speaker 4: think that we're going with and the plan for it.
• 28:21
  Speaker 4: You know, if you're planning on saving for a property
• 28:24
  Speaker 4: or whatever, it wouldn't be about you know, oh you
• 28:28
  Speaker 4: should save for a house and you go, oh god,
• 28:29
  Speaker 4: I didn't know I could do that, Like you knew
• 28:31
  Speaker 4: that was going to be part of the plan, But
• 28:33
  Speaker 4: I've actually done the finances for it. Your statement of
• 28:36
  Speaker 4: advice has the time frame when this can happen. How
• 28:40
  Speaker 4: much of your budget is being allocated to this? What
• 28:42
  Speaker 4: that actually looks like? Your statement of advice? And I
• 28:45
  Speaker 4: used to say this to all my clients. There should
• 28:47
  Speaker 4: not be surprises in here. We have talked about everything,
• 28:50
  Speaker 4: and if there are surprises in here, I haven't done
• 28:53
  Speaker 4: my job properly, Like I have not held your hand
• 28:55
  Speaker 4: enough through this process. And so maybe I was overkill.
• 29:00
  Speaker 4: Gin know what, Sorry, you're paying me, that's my job.
• 29:02
  Speaker 4: I should be overkill. And I feel like that's what
• 29:05
  Speaker 4: we should be expecting if you're going to pay for
• 29:07
  Speaker 4: financial advice, because it's expensive.
• 29:09
  Speaker 5: Right, definitely? What did everybody else think?
• 29:12
  Speaker 4: So first question we asked was if you were given
• 29:14
  Speaker 4: this advice, what would you think? Fifty percent of you
• 29:17
  Speaker 4: are with me get a second opinion. Twenty four percent
• 29:20
  Speaker 4: of you said good in theory, probably messy in practice,
• 29:23
  Speaker 4: fourteen percent said I wouldn't be doing it, and thirteen
• 29:26
  Speaker 4: percent said, yeah, it makes sense to join everything. The
• 29:30
  Speaker 4: next question we asked was how would you want to
• 29:32
  Speaker 4: handle assets pre owned before marriage? Forty seven percent said
• 29:37
  Speaker 4: whatever benefits us most financially, thirty one percent said whatever
• 29:41
  Speaker 4: gives me the most protection, thirteen percent said keep everything separate,
• 29:45
  Speaker 4: and ten percent said just join everything.
• 29:48
  Speaker 3: We're married. And then my favorite part, We said, guys,
• 29:51
  Speaker 3: what is your two cents?
• 29:53
  Speaker 4: And I have collected a few of your responses because,
• 29:56
  Speaker 4: as it turns out, we had a lot of opinions.
• 29:58
  Speaker 3: There were hundreds of reply on this one.
• 30:01
  Speaker 4: First person said, laws change, Look at California House laws
• 30:05
  Speaker 4: on splits. I don't know what that means, but I
• 30:09
  Speaker 4: laughed at this one. Because we have been trying so hard,
• 30:12
  Speaker 4: jest to gain an international audience.
• 30:15
  Speaker 3: We've got one.
• 30:16
  Speaker 4: Thank you for contributing, Adore, but that's not going to
• 30:20
  Speaker 4: help because this listener is in Australia.
• 30:22
  Speaker 5: But they're right, laws can change. That's absolutely true.
• 30:24
  Speaker 4: But yes, absolutely laws can change. Also, I just was like,
• 30:27
  Speaker 4: oh my god, like we're getting this international audience who
• 30:30
  Speaker 4: are giving like good advice but also not relevant in
• 30:32
  Speaker 4: this situation.
• 30:33
  Speaker 3: But please keep giving it.
• 30:34
  Speaker 4: Next person said, assets don't lose or gain value with
• 30:37
  Speaker 4: an extra name on them.
• 30:38
  Speaker 3: I wouldn't be trading security for tradition. Loved that.
• 30:43
  Speaker 4: Next person said, divorce rates are currently over fifty percent.
• 30:46
  Speaker 4: Keep control of everything that's yours, irrespective of what you
• 30:49
  Speaker 4: love and don't. The next person said, never make a
• 30:53
  Speaker 4: decision if you're feeling uncomfortable, trust your gut and go
• 30:56
  Speaker 4: get a second opinion. Someone said, I've been happily married
• 30:59
  Speaker 4: for ten years. We actually still have all of our
• 31:02
  Speaker 4: assets separate, but we have some joint expenses. This just
• 31:05
  Speaker 4: shows me everyone's money is different, Like there's never a
• 31:09
  Speaker 4: financial plan, Like I could give you Stephen my financial
• 31:12
  Speaker 4: plan and you could be like in the bin, like
• 31:16
  Speaker 4: I'm not doing that.
• 31:17
  Speaker 3: And then on the flip side, someone.
• 31:18
  Speaker 4: Else might be like, oh, I'm doing that, but we're
• 31:20
  Speaker 4: going to tweak X, Y and Z, Like there's no
• 31:23
  Speaker 4: one size fits all, which sucks because I could make
• 31:26
  Speaker 4: a plan and sell it to you guys for heaps
• 31:28
  Speaker 4: of money, but I can't.
• 31:30
  Speaker 5: Personal finance is deeply personal exactly.
• 31:33
  Speaker 4: Next person said, couples are a team. You can both
• 31:36
  Speaker 4: benefit as a team while still protecting each party, which I.
• 31:39
  Speaker 3: Think is important.
• 31:40
  Speaker 4: I agree with that too, So like, if your financial
• 31:43
  Speaker 4: advisory is recommending that you put each other's names on things,
• 31:47
  Speaker 4: your husband to be should be as comfortable with either
• 31:51
  Speaker 4: doing that if you both want to do that, or
• 31:53
  Speaker 4: not doing that and going no, no, no, I want
• 31:55
  Speaker 4: to protect Jess like no, like she needs her stuff
• 31:57
  Speaker 4: too if this doesn't work out, green flower. Immediately, next
• 32:02
  Speaker 4: person said, hope for the best, to plan for the worst.
• 32:05
  Speaker 4: Protect your finances. You will know how things will go.
• 32:09
  Speaker 4: And then the last one I laughed at maybe because
• 32:12
  Speaker 4: like women are seen to be a little bit more
• 32:15
  Speaker 4: touchy feely, she's a girl. Go get a female financial advisor, honestly, Yeah,
• 32:20
  Speaker 4: go see Daisy at Everest Wealth. She's very popular in
• 32:23
  Speaker 4: our community. And you know what, I agree, like the
• 32:26
  Speaker 4: amount of and I'm not saying that she's the only
• 32:28
  Speaker 4: financial advisor and that you have to have a female,
• 32:30
  Speaker 4: but like, sorry, if you want a female Daisy in
• 32:32
  Speaker 4: the Everest Wealth girls, I would say Sleigh, all right, Jess,
• 32:36
  Speaker 4: I feel like that's probably a good place to leave it.
• 32:39
  Speaker 4: As always, if you haven't subscribed, please do so that
• 32:42
  Speaker 4: you never miss an episode and.
• 32:44
  Speaker 3: We'll see bright and early on Monday morning for a
• 32:46
  Speaker 3: money diary.
• 32:47
  Speaker 5: Hi, guys.
• 32:53
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