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Borrowing to Invest: Brilliant Move or Big Mistake? And How To Survive Christmas Gifting Season (Without Going Broke) · She's On The Money

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Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
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Speaker 1: woman and I'm here to acknowledge country t Glenn Young
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Speaker 1: Ganya Niana, Kaka yah Ya bin Ahaka nian Ar gay
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Speaker 1: In Mbina yakarum jar dominyamiga Umagahawakaman damon imlan Wumba bang
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Speaker 1: Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
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Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
0:26
Speaker 1: We thank acknowledge and respect the Aberiginal people's land that
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Speaker 1: we're gathering on today. Take pleasure in all the land
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Speaker 1: and respect all that you see. She's on the Money
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Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,
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Speaker 1: knowledge and resources for you to thrive.
0:45
Speaker 2: She's on the Money.
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Speaker 3: She's on the Money.
1:07
Speaker 4: Hello and welcome to She's on the Money, the podcast
1:10
Speaker 4: that makes personal finance fun, especially on Fridays. My friends,
1:14
Speaker 4: it is our favorite day of the week because we
1:16
Speaker 4: get our team together and we get to celebrate you
1:19
Speaker 4: the incredible. She's on the Money community ms Grit. She's
1:23
Speaker 4: here and she's going to be sharing her favorite money
1:24
Speaker 4: wins and maybe a little breaking news. Miss beck sayed
1:28
Speaker 4: will be sharing her broke tips, and we're going to
1:30
Speaker 4: be helping to answer a money dilemma which asked v
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Speaker 4: is it a good idea to take out a loan
1:34
Speaker 4: to then invest into the share market? And something that
1:37
Speaker 4: you slid into our dms about working out how much
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Speaker 4: to spend on buying gifts for adults with a tiny
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Speaker 4: little spicy side question on whether gift cards are just
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Speaker 4: impersonal gestures, which as a fan of gift cards, I
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Speaker 4: feel like I have some thoughts and feelings. But before
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Speaker 4: we get to our question of the week and I
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Speaker 4: get to grill you both on your personal opinions, do
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Speaker 4: we want to hype our selves up with a little
2:01
Speaker 4: five star review? Yes? Please wait now, Beck, I always
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Speaker 4: pick ones that are about you because I literally love
2:07
Speaker 4: like how excited you get, So I'm not putting that aside.
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Speaker 4: But this one, this week's for Jess. Yes, so fair,
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Speaker 4: So it's totally just for Jess. Go Jess five stars.
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Speaker 4: I will be so so happy. If the news you
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Speaker 4: are planning on sharing is that Jess has purchased her
2:25
Speaker 4: first home, please tell us what the good news is.
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Speaker 4: Ps I love you girls. So that's a very nice
2:32
Speaker 4: segue into miss Jessica Ricci. That's a very nice review, thank.
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Speaker 5: You, thank you.
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Speaker 3: But what's your news, guys, I'm filming it exciting, so cool.
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Speaker 4: So so she's the official owner of a patch of
2:50
Speaker 4: dirt with no property on it right now and a
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Speaker 4: photo in front of it.
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Speaker 3: Did you touch the dirt?
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Speaker 4: So cute? I did. I wrote my name in it.
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Speaker 4: It was a very spiritual. Yeah, tell me a little
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Speaker 4: bit more. I think this is the first time beck
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Speaker 4: is hearing about this, and I have been in the
3:06
Speaker 4: background being like, have you spoken to them about landmarkers?
3:09
Speaker 4: What about your conveyancer? So this has been really fun
3:12
Speaker 4: because you're also working with the team at Zella Money,
3:14
Speaker 4: which we are all just so excited for you. I
3:17
Speaker 4: think this journey has been so long. Is it what
3:19
Speaker 4: you wanted as the peakiest girl in the entire world?
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Speaker 3: How did you decide?
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Speaker 4: You know this is the one?
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Speaker 2: You know what? It really was just almost fateful. So
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Speaker 2: there's you know, there's such a small pocket that I
3:31
Speaker 2: was looking at buying in and you mean like less
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Speaker 2: than a kilometer square, guy, very small, and so it's
3:38
Speaker 2: you know, so you have to take what you can get.
3:40
Speaker 2: And the block is a little bit smaller than I wanted,
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Speaker 2: but it's still fits a house that's a really great design.
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Speaker 2: It's the orientation that I wanted. I'm just so over
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Speaker 2: the moon.
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Speaker 4: I'm so exciting. I'm so excited. And it's just like
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Speaker 4: validation as well, because there's been so many times you're like,
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Speaker 4: they really like this house, but they're asking X amount
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Speaker 4: and that's not in the budget, and I keep being like, babe,
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Speaker 4: it's coming for you, I promise, and like watching you
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Speaker 4: be so upset about you know, quote missing out, yeah,
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Speaker 4: and then knowing you're not going to miss out now,
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Speaker 4: Like we're starting from scratch, so it's like not compromising
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Speaker 4: on you know. Oh yeah, no, I loved it, but
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Speaker 4: the kitchen was like definitely the wrong colors. I'd have
4:19
Speaker 4: to update the bathrooms all like, oh, like why have
4:22
Speaker 4: they got carpet in the toilet? Like that's weird. But
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Speaker 4: I'm happy to settle. Now. You're doing it literally from scratch,
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Speaker 4: so there's going to be everything in your house that
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Speaker 4: you want. I'm just I can't wait. So it's going
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Speaker 4: to be I want to share the whole thing with
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Speaker 4: you guys, already killed my mom. Everyone behind me, she's queen.
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Speaker 2: I just yeah, I'm really so thankful for all the
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Speaker 2: support from you guys, from the listeners. Like I just
4:46
Speaker 2: I put up a little reel to like announce it,
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Speaker 2: and I said, I just feel like without the support
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Speaker 2: of everyone, I would have given up a long time ago.
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Speaker 4: And so I'm so he did try, he did try.
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Speaker 4: I had a moment. You know, we've all been there.
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Speaker 2: Yeah, I'm I'm so thrilled for the journey and so yeah,
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Speaker 2: I'm just like overflowing with gratitude, stress, exciting.
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Speaker 4: Yeah, now to be building stress stress, It'll be good.
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Speaker 4: And I know the route you're going down. I'm very
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Speaker 4: very excited. So soph G ninety two, you are correct
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Speaker 4: and you're going to be very happy because the news
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Speaker 4: is that Jess says, technically you bought a house for
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Speaker 4: bought land and he's in the process of building her
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Speaker 4: first home. Stay tuned, we'll share it all. All right,
5:26
Speaker 4: let's get into the Question of the week. So, as
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Speaker 4: you guys know, it's time for our new favorite part
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Speaker 4: of our Friday Drinks episode where we get to ask
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Speaker 4: one question that you guys are dying to know. It
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Speaker 4: could be literally anything money life or anything rogue, like
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Speaker 4: this one from Rochelle, who has asked she's on the
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Speaker 4: Money team. I want to know if you had to
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Speaker 4: survive on just one supermarket aisle for the rest of
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Speaker 4: your life, which I'll you camping out in so easy?
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Speaker 6: Is it?
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Speaker 2: There's an obvious answer, is it? Which I want you,
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Speaker 2: guys answer now, because I'm sure.
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Speaker 4: I mean, there's an obvious answer.
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Speaker 5: There's a correct answer here, correct correct, you're thinking the
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Speaker 5: correct answers like the water aisle or nothing.
6:08
Speaker 4: Will assume you have access to water, okay.
6:11
Speaker 3: Assume you have access to water.
6:13
Speaker 4: That's true.
6:13
Speaker 3: Okay, assume you have access to water.
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Speaker 4: Yeah, because you're going to cook our stuff anyway exactly,
6:18
Speaker 4: and maybe you know toothpaste, shampooy, etcetera.
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Speaker 5: So I personally like the bakery paste bakery, Yeah, bakery
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Speaker 5: forever forever.
6:29
Speaker 4: Yes, you said, good one. Why? I mean, it's not
6:32
Speaker 4: my choice, but it's a good choice. You're in the
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Speaker 4: pasta ile, aren't you. No, No, I'm not hold on
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Speaker 4: eating confectionary guys. I once I say it, you're gonna
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Speaker 4: be like, oh, okay, okay, food.
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Speaker 2: Yes, I am, and like this because yeah, okay, savory,
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Speaker 2: there's vegetables, there's.
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Speaker 3: Anything that's really just us.
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Speaker 4: And I was going to say, oh, look, I'm not
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Speaker 4: going to love this answer because I don't know if
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Speaker 4: I could do with past it. But like the fresh
7:01
Speaker 4: veggie section because like, you know, fruits and veggies, like
7:04
Speaker 4: I'll be healthy, and like you could make mashed potatoes,
7:07
Speaker 4: so that's good, make noki but sorry, can I rescind
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Speaker 4: that idea? And I would like to move in with Jess.
7:14
Speaker 4: You could have a frozen pizza and then you could
7:16
Speaker 4: make some veggies, like I.
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Speaker 5: Think that we have to assume that there is no
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Speaker 5: utensil you can't use, like, but we're actually living in
7:24
Speaker 5: the living in the aisle, I might get a bit chilly,
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Speaker 5: but I'll be well.
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Speaker 4: No, we're not leaving any I know she said live,
7:30
Speaker 4: but that was a lot. That was a lot. Let's
7:33
Speaker 4: put that question in our show notes on Spotify so
7:36
Speaker 4: that the community can answer that as well, because in
7:39
Speaker 4: those questions, tell us your answer, Like if you pick compectionery.
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Speaker 3: Why it's tempting, but you get it, it's empting.
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Speaker 4: I would, but someone somewhere is going to be like,
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Speaker 4: I'm never sick of eating chips. That's true, all right.
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Speaker 4: I feel like that's enough. On which supermarket ile we're
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Speaker 4: going to live in. If you've got a question that
7:54
Speaker 4: you are dying for us to answer literally clearly, no
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Speaker 4: matter how rogue, leave it in the comments and we
8:00
Speaker 4: will hopefully get to it. Jess, it is your time
8:02
Speaker 4: to shine again. Community, money wins and confessions. What have
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Speaker 4: you got this week? Oh right, there are some goodies
8:07
Speaker 4: this week.
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Speaker 2: First, I've got one from Cassie, who says she always
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Speaker 2: browses the clearance section at the supermarket. She said today
8:13
Speaker 2: she got a dog lick Matt for sixty cents that
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Speaker 2: will be of great use the coming summer for her
8:17
Speaker 2: beautiful pup obviously pet tax pup photo very. You know,
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Speaker 2: I love a little look at the supermarket clearance. It's
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Speaker 2: always at random, stuck, totally totally, very fun. Maybe that's
8:28
Speaker 2: where I would live in the clearance.
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Speaker 3: That's too.
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Speaker 2: Next, I've got a money lost from Kab who said
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Speaker 2: she had a big ADHD tax moment. She totally mismanaged
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Speaker 2: her time last week and had to scramble to get
8:40
Speaker 2: critical chores done before leaving for her holiday. She said
8:43
Speaker 2: it left her with an embarrassing result that she had
8:45
Speaker 2: to ring the airline from the train platform and change
8:48
Speaker 2: the flight to an hour later, which totally blew the
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Speaker 2: budget out for her trip. She said she did end
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Speaker 2: up having lounde access that was a result, so she
8:55
Speaker 2: at least, you know, stopped up on a couple of
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Speaker 2: meals while she was there. So although it was a
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Speaker 2: money loss, she didn't let it lure her into continuing
9:02
Speaker 2: to overspend just because things hadn't gone to plan. That's fair,
9:05
Speaker 2: And I just want to remind people like that's like,
9:07
Speaker 2: that is such a common thing for eighty hds, right, Like,
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Speaker 2: the loss of little things sometimes can happen, and it's
9:13
Speaker 2: important that you don't beat yourself up.
9:14
Speaker 4: You just go, Okay, well, how can I.
9:16
Speaker 5: Deal with it totally?
9:17
Speaker 4: How do I move forward? Do you let her your holiday?
9:20
Speaker 3: Totally?
9:20
Speaker 4: I would have let it ruin my holiday, but I
9:23
Speaker 4: can't be trusted those do as Katie's did, not as
9:26
Speaker 4: we would do. Yeah, don't listen to Victoria. What would
9:29
Speaker 4: she know next?
9:30
Speaker 2: I've got money in from Misha. She said she had
9:32
Speaker 2: to get her passport renewed four hundred and twelve dollars.
9:35
Speaker 4: Oh my gosh, she's one hundred and twelve. Now I
9:38
Speaker 4: know you are crazy.
9:39
Speaker 2: And then if you want it, you know, shipped to
9:41
Speaker 2: you quickly with tracking, she said, it's an extra hundred
9:44
Speaker 2: and five dollars. Okay, so that would be five hundred
9:48
Speaker 2: and seventeen dollars, she said. Instead, she asked some questions
9:51
Speaker 2: at the passport office and she was told that she
9:53
Speaker 2: could just keep an eye on the tracking number and
9:56
Speaker 2: if it was not being delivered quickly enough, she should
9:58
Speaker 2: then call up and and add the fast track on.
10:02
Speaker 2: So if it looks like it's on track, you're all good.
10:04
Speaker 2: If not, oh my god, I leave for my holiday
10:06
Speaker 2: in you know, four days, bring them up. Can I
10:09
Speaker 2: fast track pay the fee?
10:12
Speaker 3: Yeah, that's really clever.
10:13
Speaker 2: That's a really good tip, she said. To be determined
10:15
Speaker 2: whether or not if the money loss or money saved.
10:17
Speaker 2: But it's really handy to know to people.
10:19
Speaker 4: This is just me thinking about finances again. Do people
10:23
Speaker 4: ask for things like their passport for Christmas? It never
10:26
Speaker 4: occurred to me, But so expensive and something that you
10:32
Speaker 4: actually need. Is that something that you would be like,
10:35
Speaker 4: oh hey mom, and they're like, oh, we want to
10:36
Speaker 4: get you something good. It's like, well, I don't want
10:39
Speaker 4: stuff anymore. I want to travel and I need a
10:42
Speaker 4: new passport. Yeah, you get me in my passport? Or
10:45
Speaker 4: is that just not love a practical gift? I'm all
10:47
Speaker 4: for it, absolutely. I never buy just practical gift. It's
10:50
Speaker 4: my favorite, just lush.
10:52
Speaker 2: You probably not high on the practicality, but I add,
10:56
Speaker 2: I just know that.
10:56
Speaker 4: You'd never do it yourself, like you talk about it
10:58
Speaker 4: all the time. And then I'm like, right time to shine.
11:01
Speaker 4: You know what is going to make Jessica jump on
11:03
Speaker 4: a chair? Yeah you do, Tom Cruise moment for a
11:07
Speaker 4: ninja slushy. I would and have and would again.
11:10
Speaker 2: And then last of these weeks, I've got a money
11:12
Speaker 2: from Ashley who said after ten years her boobs have
11:14
Speaker 2: shrunk and she's no longer limited to plain bras or
11:16
Speaker 2: expensive ones from specialist shop money, because I think we
11:20
Speaker 2: can all really feel that one a little bit now, Oh.
11:22
Speaker 4: Yeah, do you want? Someone asked me the other day,
11:24
Speaker 4: would you rather a nude of you to circulate the internet.
11:28
Speaker 3: Or please or your Yeah?
11:30
Speaker 4: You'd be like, yeah I did that, or your chat
11:34
Speaker 4: GPT search history leaks. That's hilarious. And then I was like, wait,
11:38
Speaker 4: is it a nude of me? Before I breastfed. If so,
11:41
Speaker 4: you show absolutely everybody that picture everybody. But if you
11:46
Speaker 4: take my CHATCHPT search history, I think we will be doneous.
11:51
Speaker 3: I hope that's the next question of the week.
11:53
Speaker 4: I just don't look at my chat GPT search history.
11:55
Speaker 4: It's not even spicy, it's just embarrassing. Yeah, how do
11:59
Speaker 4: you pronounce?
12:01
Speaker 3: How does pull table no balls white?
12:03
Speaker 4: Yeah?
12:03
Speaker 5: Exactly, And I still don't know, right, Beck, it is
12:07
Speaker 5: your turn.
12:08
Speaker 4: Tell me what broke tips you bring into the table
12:10
Speaker 4: this week. Okay, So this.
12:12
Speaker 5: First one I got off one of like the threads
12:14
Speaker 5: in our Facebook group from a community member who is
12:17
Speaker 5: going back to UNI congratulations, and they're looking for ideas
12:20
Speaker 5: for like student discounts and things like that. This one
12:22
Speaker 5: was suggested a few times. It's called UNI Days and
12:25
Speaker 5: once you've signed up and verified your student status, you
12:28
Speaker 5: can shop through them to received student discounts. They have
12:31
Speaker 5: a whole range of partners, like the iconic Sephora. You
12:34
Speaker 5: can just chop through the platform and get like discounts
12:36
Speaker 5: to random brands and things like that, which I think
12:39
Speaker 5: is great.
12:39
Speaker 4: I used to use that back in the day, so
12:41
Speaker 4: that platform has been around. Yeah, Agous, it might be
12:44
Speaker 4: completely different now. But you had to upload like a
12:46
Speaker 4: scanned version of your student ID. And everyone at my
12:50
Speaker 4: union was talking about how you would just wipe out
12:53
Speaker 4: the expiry day, and so I might have tried that
12:57
Speaker 4: and then had it for a little bit longer than
12:59
Speaker 4: maybe I was entitled to. Still got it?
13:02
Speaker 3: I thought, no, not to this day.
13:04
Speaker 4: Actually, it's like my discount on my phone plan. Because
13:07
Speaker 4: I was a student, they took it away and then
13:08
Speaker 4: I was like, oh, hey, where did that go. They're like, oh, well,
13:11
Speaker 4: you have had it for five years or something. We
13:13
Speaker 4: assume you're not a student anymore. You can reapply for it.
13:15
Speaker 4: And I was like, I can't. You took it. You
13:19
Speaker 4: took it. It was half percent, but it was still
13:21
Speaker 4: five percent. Yeah, what else you got back?
13:25
Speaker 5: Well, just a really quick reminder that we have heaps
13:27
Speaker 5: of great threads like this, like with advice and things
13:29
Speaker 5: like that in our Facebook group. So if you're not
13:31
Speaker 5: in it, the link is in the show notes for
13:32
Speaker 5: you to join. This next one comes from Tire. She
13:35
Speaker 5: says that she uses dec who Deals to find the
13:37
Speaker 5: best prices for games, but Nintendo Switches, PlayStation, Xbox, Steam,
13:42
Speaker 5: Deku is d e Ku just for to have not
13:46
Speaker 5: used it before. No, I'm not a game of girlye though,
13:49
Speaker 5: but for the game of Girlies, oh for sure. So
13:52
Speaker 5: you can set a watch list and get emailed when
13:54
Speaker 5: there is a price drop. You can look at the
13:56
Speaker 5: price history and get a weekly email of games on special,
13:59
Speaker 5: which I think is great. Love love it for us
14:02
Speaker 5: And what's yours? Okay, So my broke tip for this week,
14:05
Speaker 5: And this is one that I know you guys have
14:07
Speaker 5: mentioned before and I never fully grasped it before. But
14:11
Speaker 5: you know one Pass obviously obsessed.
14:13
Speaker 4: Yes, so I think I only just.
14:15
Speaker 5: I'm almost like regretting the amount of time I spent
14:18
Speaker 5: and not really understanding the concept of one past.
14:20
Speaker 3: But basically, just for context, you guys might have seen.
14:22
Speaker 5: That we've been working with one Pass recently, like talking
14:25
Speaker 5: about the great value a membership provides, for example five
14:29
Speaker 5: times fly by his points when you shop in store,
14:31
Speaker 5: or clicking collected Kmart, Target, Bunnings and.
14:34
Speaker 4: A few other places as well, truly preaching to the converted,
14:37
Speaker 4: like Jess and I have been trying to get you
14:39
Speaker 4: to understand.
14:40
Speaker 3: I can't believe it. That's crazy.
14:42
Speaker 5: For the listener's context, because I know that you guys
14:44
Speaker 5: know already. But it's also free shipping from all of
14:47
Speaker 5: those stores. And like obviously, as I mentioned other stores,
14:50
Speaker 5: I've only listed three here, Kmart, Target, Bunnings, but there
14:52
Speaker 5: are other stores on there.
14:54
Speaker 4: Like office Works. And also I don't know about you,
14:57
Speaker 4: but if you have to pay for shipping, I'm always
14:59
Speaker 4: adding a dish things to my cart to quote make
15:01
Speaker 4: it worth it. I don't do that, so I'm just
15:04
Speaker 4: ending that's so true.
15:06
Speaker 3: But there's actually more.
15:08
Speaker 4: Oh wait, you've written down more notes, right, Actually tell
15:10
Speaker 4: us I do because and I know.
15:11
Speaker 5: That you guys know this, or maybe you don't know this,
15:13
Speaker 5: but if a product is fairly unused or looks in
15:19
Speaker 5: great condition, I'm going to.
15:20
Speaker 3: Say unused just for the purpose.
15:22
Speaker 5: Don't get in trouble. It has to be unused, has
15:24
Speaker 5: to be perfect condition. You have three hundred and sixty
15:26
Speaker 5: five days to return it. That's a whole year, do
15:28
Speaker 5: you know what.
15:28
Speaker 4: I didn't know that. That's crazy because I'm not looking
15:31
Speaker 4: into those terms and conditions. I just want my points
15:33
Speaker 4: and I also want my baby singlets sent to me
15:35
Speaker 4: without shipping costs.
15:37
Speaker 3: Yeah, so fair, Well, you can do all of those things.
15:39
Speaker 5: And also you can get to the end of the
15:41
Speaker 5: year and be like, oh, I never even use this,
15:43
Speaker 5: I'm going to take it back now tags are still on.
15:46
Speaker 3: That's wild. It might even be discontinue. That's the thing
15:49
Speaker 3: I'm thinking.
15:50
Speaker 5: What if it's a discontinued item and they're like, well,
15:52
Speaker 5: I guess you got to You're allowed to.
15:54
Speaker 4: You're allowed to do this.
15:55
Speaker 2: We talk about this every year, but VD you and
15:57
Speaker 2: I renew our memberships every year at the same time.
16:00
Speaker 4: Only when it's on sale, because yes.
16:02
Speaker 2: And it's on sale right now. Everybody just is a
16:03
Speaker 2: little fi may we can link it in the show
16:05
Speaker 2: notes or something. For you guys, it's half priced. Your
16:07
Speaker 2: annual membership is twenty dollars instead of forty. That's like
16:10
Speaker 2: a dollar thirty a month or something.
16:12
Speaker 4: Yeah, that's ridiculous.
16:14
Speaker 3: Crazy.
16:14
Speaker 2: If you order two things online over the course of
16:16
Speaker 2: the ARP, you've paid for itself in you've saved, which I.
16:19
Speaker 4: Think is crazy. I love the fact that if your
16:21
Speaker 4: points curly, you're like turbo charging your points. Yeah, but
16:24
Speaker 4: if you're not a point scurly, you're getting free shipping.
16:27
Speaker 4: So everybody wins.
16:28
Speaker 3: No matter what. You're a winner.
16:29
Speaker 2: Check out the link of the show notes. We'll pop
16:31
Speaker 2: that down there. Great value questionable is to whether or
16:33
Speaker 2: not you can return things.
16:34
Speaker 4: But do it that information?
16:36
Speaker 3: Sure you are exactly one plass.
16:37
Speaker 4: Can't stop us exactly. Oh my god, they sound great.
16:40
Speaker 5: I'm going to do it. I'm gonna do it right
16:41
Speaker 5: after this.
16:42
Speaker 4: You actually sure it's great? About like I literally renew
16:44
Speaker 4: it every year. I'm a part of their cult. I
16:46
Speaker 4: don't know if they are running a cult, but if
16:48
Speaker 4: they were, i'd been well consider me culted were drinking
16:51
Speaker 4: people laid.
16:52
Speaker 3: Oh yeah, I want to drink some.
16:53
Speaker 4: All right, let's go to a really quick break because
16:55
Speaker 4: on the flip side, I am chomping at the bit
16:57
Speaker 4: to get into two of these questions. So the first
17:00
Speaker 4: one is a money dilemma from someone in our community
17:02
Speaker 4: who rung in and said, v is it a good
17:04
Speaker 4: idea to get a loan so that I can invest
17:06
Speaker 4: into the share market? And then you guys slid into
17:09
Speaker 4: our dms. This week, we're going to be talking about
17:12
Speaker 4: how to work out how much we spend on adult gifts,
17:15
Speaker 4: and then we're also going to ask the spicier question
17:17
Speaker 4: of is a gift card a really impersonal gift to give,
17:21
Speaker 4: so guys don't go anywhere. Welcome back, everybody. Let's take
17:29
Speaker 4: a listen to this week's money dilemma. Hi. There, have
17:33
Speaker 4: you got a money dilemma you just can't solve That.
17:36
Speaker 4: She's on the Money team is here to help. Every
17:38
Speaker 4: week we tackle your dilemmas, both big and small, to
17:41
Speaker 4: answer your most burning money, career and life questions. To
17:45
Speaker 4: get involved, simply head to our website and leave us
17:47
Speaker 4: a short voice recording and you might just find yourself
17:50
Speaker 4: on the show. Now, let's take a listen to this
17:52
Speaker 4: week's money dilemma.
17:56
Speaker 6: Hi, She's on the Money. So my husband and I
17:59
Speaker 6: went and spoke to a financial advisor for the first
18:03
Speaker 6: time ever, and we discussed our interest to invest in shares,
18:08
Speaker 6: and the financial advisor recommended getting alone to invest in
18:13
Speaker 6: shares because it's taxed at a more reduced rate. I've
18:18
Speaker 6: never heard of this concept before, and I don't really
18:22
Speaker 6: understand how it works. I don't feel super comfortable with
18:26
Speaker 6: the idea of getting into debt to invest in the
18:29
Speaker 6: share market, even though investing in the share market is
18:32
Speaker 6: something that my husband and I are really passionate about
18:35
Speaker 6: and really interested in getting into. Could you please explain
18:39
Speaker 6: why the financial advisor might have advisors? How does this
18:42
Speaker 6: process work? Where I could read some additional resources. I
18:47
Speaker 6: am not really sure how to get more information and
18:50
Speaker 6: educate myself on this topic.
18:52
Speaker 1: Thank you.
18:53
Speaker 5: I got to tell you, guys, I literally have thought this.
18:56
Speaker 5: I think about this every day.
18:57
Speaker 4: Why because if you think about this every day, think about.
19:00
Speaker 5: It at least once a day, I think, really, yeah,
19:02
Speaker 5: I think so because I keep meaning to ask you
19:04
Speaker 5: and I keep getting But say, for example, you put
19:07
Speaker 5: fifty thousand dollars in. I mean, we don't know how
19:09
Speaker 5: much it's going to return, but let's say on average
19:12
Speaker 5: your returns like nine ten percent, and then the interest
19:14
Speaker 5: on the loan nine to ten.
19:17
Speaker 3: She's not sorry.
19:19
Speaker 4: I was like, where are you getting your starts from?
19:21
Speaker 1: Beck?
19:22
Speaker 3: Is it nineteen you guys?
19:24
Speaker 2: No?
19:24
Speaker 3: And then the interest and say the interest on the
19:25
Speaker 3: loan is like four percent.
19:27
Speaker 5: I'm like, well, I could just put it in there
19:30
Speaker 5: for a year, take out the whole amount, pay off
19:34
Speaker 5: the loan, and then I've just got like free money.
19:36
Speaker 4: Yeah, that's kind of how it works. That's crazy, Like,
19:39
Speaker 4: you're not wrong. That's a very simplified version of it.
19:42
Speaker 4: When you lend money so that you're able to invest
19:45
Speaker 4: in the share market. It's either called creating a GID
19:49
Speaker 4: portfolio or creating a leveraged portfolio. Or the loan type
19:54
Speaker 4: that you would engage in is called a margin loan
19:57
Speaker 4: because you would borrow money for thisific purpose of investing
20:01
Speaker 4: into the share market. Now, those are actual standalone products,
20:04
Speaker 4: like you can go and talk to an investment advisor
20:06
Speaker 4: and then get somebody to write you alone called a
20:09
Speaker 4: margin loan, so that you can invest in the share market.
20:12
Speaker 4: I don't have enough background on this community member so
20:15
Speaker 4: that I understand her personal circumstances. But when I was
20:18
Speaker 4: a financial advisor, I specialized in investing, so like people
20:22
Speaker 4: would come to me and I could do like, you know,
20:24
Speaker 4: the insurances and the savings plans and stuff. But what
20:26
Speaker 4: I really did was construct investment portfolios, usually for higher
20:31
Speaker 4: net wealth people, which was really fun and really pervy
20:35
Speaker 4: and has given me a lot of information. But it
20:37
Speaker 4: also makes me a little bit worried because I don't
20:40
Speaker 4: want our community to go, oh, that sounds like a
20:42
Speaker 4: great idea, just like you did, Beck, Because what happens
20:45
Speaker 4: if you have a standalone margin loan is like the
20:49
Speaker 4: market place goes up and down, like the share market
20:51
Speaker 4: is a roller coaster, and that's okay because over the
20:53
Speaker 4: long term, when we zoom out, we know that over
20:56
Speaker 4: thirty years, nobody who's ever invested in the Australian share
20:59
Speaker 4: market has missed out. But what can happen is, because
21:04
Speaker 4: that's a leveraged portfolio and there's debt involved, you could
21:08
Speaker 4: get what's called a margin call, and a margin call
21:10
Speaker 4: is they might send you an email or give you
21:12
Speaker 4: a buzz and go, hey, Beck, the value of your
21:15
Speaker 4: portfolio has dropped because the market has dropped. So we
21:18
Speaker 4: even need to to make sure that this loan is
21:20
Speaker 4: still financially stable for us. We need to either sell
21:24
Speaker 4: down some of your shares so that your leverage to
21:28
Speaker 4: the right levels, or you could tip in some extra money.
21:32
Speaker 4: And that is a fickle position to be in, because
21:34
Speaker 4: we do not ever want you to be in a
21:36
Speaker 4: position where you're selling shares when they are worthless, and
21:42
Speaker 4: that to me is a massive red flag of going Oh,
21:44
Speaker 4: leverage portfolio sounds sick, but there's that risk of getting
21:48
Speaker 4: a margin call if your like margin in your portfolio
21:52
Speaker 4: drops below eighty percent. Don't quote me on the eighty
21:55
Speaker 4: percent because different products have different like margin call times,
21:58
Speaker 4: so some might be if they're a lot more aggressive,
22:01
Speaker 4: might be fifty percent summer ninety. You have to talk
22:04
Speaker 4: to your financial advisor about that. The reason I think,
22:07
Speaker 4: maybe just because I can hear in her voice like
22:09
Speaker 4: she's relatively young, that a financial advisor might have recommended
22:12
Speaker 4: that to her is because she could also maybe take
22:15
Speaker 4: some equity out of a home loan she has. And
22:17
Speaker 4: that's where I said, I don't have enough information about
22:19
Speaker 4: this particular community member to know why this advisor is
22:23
Speaker 4: putting this strategy on the table, because a standalone loan
22:27
Speaker 4: I would be very apprehensive of, like a margin loan
22:31
Speaker 4: for somebody who is you know, let's just pretend Jess,
22:34
Speaker 4: actually no, because you just bought a house, you might
22:36
Speaker 4: have some equity there. No, let's pretend beck Beg. You
22:39
Speaker 4: don't have a house, you don't have any massive assets
22:42
Speaker 4: to like borrow against so that you get a really
22:45
Speaker 4: low interest rate. And a margin loan is usually a
22:47
Speaker 4: higher interest rate because it's not secured against anything really
22:51
Speaker 4: in comparison to property, which yeah, you might be able
22:53
Speaker 4: to get a four or five percent interest rate, but
22:55
Speaker 4: like the same doesn't happen in the margin lending world.
22:58
Speaker 4: So I feel like I'm yabbering on a bit. Essentially,
23:00
Speaker 4: one's a little bit more risky than the other. But
23:03
Speaker 4: a lot of financial advisors might recommend if you want
23:06
Speaker 4: to invest in the share market, and maybe you've got
23:09
Speaker 4: let's say fifty thousand dollars in your offset account, they
23:12
Speaker 4: might go, well, why don't we get fifty thousand dollars
23:15
Speaker 4: out of your mortgage? Leave your fifty thousand dollars in
23:18
Speaker 4: your offset account, but will take out a further fifty
23:20
Speaker 4: thousand dollars in loans on your mortgage, So just like
23:24
Speaker 4: take some equity, invest that and if things happen in
23:27
Speaker 4: the market moves, we can use some of that offset
23:29
Speaker 4: money to top it up, like we're not going to
23:32
Speaker 4: be hamstrung. And that's where it might work really well.
23:36
Speaker 4: And a lot of young people have started doing that
23:39
Speaker 4: in saying that that is risky. Yes, it is more
23:41
Speaker 4: tax effective, but at what tax level are you at
23:44
Speaker 4: for it to be super effective? If that makes sense,
23:47
Speaker 4: So it has to work with your strategy. Is it
23:49
Speaker 4: a terrible idea?
23:51
Speaker 1: No?
23:51
Speaker 4: We actually recently or I actually recently recorded a money
23:55
Speaker 4: diary with a diarist who has a leveraged portfolio where
23:58
Speaker 4: they've taken equity out of their property invested it in
24:00
Speaker 4: the share market, and they're doing it relatively, I would
24:03
Speaker 4: say aggressively because they took seventy thousand dollars out chucked
24:06
Speaker 4: that in the share market and they're planning on doing
24:08
Speaker 4: that again. So I'm going to put the link to
24:11
Speaker 4: that episode in the show notes because it is a
24:13
Speaker 4: really good insight. But I would look into that, and
24:16
Speaker 4: I would also just be doing a lot of research
24:18
Speaker 4: into the type of gearing product you're using or if
24:21
Speaker 4: it's from your mortgage. And honestly, I know there's a
24:23
Speaker 4: lot of research that you want to do. But sit
24:25
Speaker 4: down your advisor and say, why this particular strategy for
24:29
Speaker 4: us if we've never done this before, Like why are
24:31
Speaker 4: you recommending this? Did you go to them and ask
24:33
Speaker 4: about margin lending or did you say can you borrow
24:35
Speaker 4: money to like do this? Is it in line with
24:37
Speaker 4: your risk profile? Like I'd be pushing that back on
24:39
Speaker 4: your financial advisor to give you as many tools and
24:42
Speaker 4: resources as possible because they should be providing.
24:45
Speaker 2: Those, and you're going to do more research on that
24:47
Speaker 2: when you borrow against your mortgage to invest.
24:49
Speaker 4: It's called debt recycling, right, it can be called debt
24:52
Speaker 4: recycling just because you're using debt to be a little
24:55
Speaker 4: bit more tax effective. And that, again is another very
24:58
Speaker 4: valid strategy. Has to be structured properly. And the pickle
25:02
Speaker 4: that I see a lot of people getting into is
25:04
Speaker 4: they want to set these things up, but then they're
25:07
Speaker 4: not cleaning their house at tax time and actually making
25:09
Speaker 4: the most of these things. They're just like, oh, that's
25:11
Speaker 4: a good thing, let's set it up, and then they
25:13
Speaker 4: forget about it, and they don't actually have their finger
25:15
Speaker 4: on the pulse, and we're not making the most of it.
25:17
Speaker 4: So these things sound sexy until you realize there's a
25:21
Speaker 4: little bit of work in the background that consistently needs
25:23
Speaker 4: to happen to make that work. Got you, That's where
25:26
Speaker 4: I mean, Yeah, would you like the juicy dilemma?
25:30
Speaker 5: Yes?
25:31
Speaker 4: All right? This week we got a DM and it
25:33
Speaker 4: sounded literally exactly like this, you're ready, hije's on the money.
25:37
Speaker 4: I find gifting really tricky these days. Most of my
25:40
Speaker 4: friends and family just buy what they want when they
25:43
Speaker 4: want it, so it's really hard to come up with
25:45
Speaker 4: something meaningful. Recently, It was my sister's birthday, and when
25:48
Speaker 4: I asked what she'd like, she suggested something over three
25:51
Speaker 4: hundred dollars, which was way out of my budget. I
25:54
Speaker 4: felt guilty then that I couldn't afford it, especially since
25:56
Speaker 4: we just moved house and I'm saving up for maternity leave.
26:00
Speaker 4: On top of that, So many people ask for gift cards,
26:02
Speaker 4: which just feels kind of impersonal and be pointless if
26:06
Speaker 4: we're just swapping them around With Christmas coming up, I'd
26:09
Speaker 4: love to know how others deal with this. Do you
26:11
Speaker 4: guys set a budget? Do you push back on expensive
26:13
Speaker 4: gift requests? So do you just go with the flow?
26:16
Speaker 2: Interesting three dollars for a gift is you know, just
26:19
Speaker 2: to expect someone to pay that is card?
26:21
Speaker 4: That's wild. That's wild to me. I couldn't imagine being
26:24
Speaker 4: like just saying, oh, v bat Day's coming up. Was
26:26
Speaker 4: there anything you wanted? And me go, yeah, Ninja Creamy.
26:29
Speaker 5: Well, yeah, brand new Dyson actually yeah, yeah, what It's insane.
26:34
Speaker 2: I just I think that there's not necessarily a set price.
26:38
Speaker 2: I think that it's whatever feels good to you.
26:41
Speaker 4: I understand the gift card thing.
26:42
Speaker 2: Having now heard the dilemma, I'm so pro gift card, Like,
26:46
Speaker 2: nothing makes me happier than a little make a gift
26:48
Speaker 2: card or something like that. But because I think you
26:50
Speaker 2: can then purchase what you want. It's a fun experience,
26:53
Speaker 2: et cetera.
26:54
Speaker 4: But I do every money that you have to spend
26:56
Speaker 4: at that location, don't transfer it to me, because that's
26:59
Speaker 4: now my money and I have to be responsible with it. Yes,
27:02
Speaker 4: I've got to pay a bill with it or something. Yeah, Yes,
27:04
Speaker 4: I do think I understand.
27:05
Speaker 2: Like if it was Christmas time, for example, and I
27:07
Speaker 2: got you a gift card for fifty dollars, you've got
27:08
Speaker 2: me a gift card for fifty dollars, you go, well.
27:10
Speaker 4: Should we should have just kept it enough? Yes, So
27:13
Speaker 4: I kind of.
27:14
Speaker 2: See that perspective on it. But I think, like more broadly,
27:17
Speaker 2: I don't find gift cards to be in personal I
27:19
Speaker 2: think especially if you pick a store or an experience
27:21
Speaker 2: of going, you know the person loves. I think that's
27:23
Speaker 2: great in terms of determining how much to spend on somebody,
27:26
Speaker 2: I mean, how long is a piece of string. It
27:28
Speaker 2: really comes down to what's in budget for you, because you.
27:32
Speaker 4: Need to spend a lot on Jess. Yeah, by the way,
27:36
Speaker 4: budget for start planning now.
27:39
Speaker 2: No, no, but I just you know, you can look
27:40
Speaker 2: at group gifts I think are a really great way
27:42
Speaker 2: to keep costs down. But also like some of my
27:45
Speaker 2: favorite gifts that I've ever gotten have been things that
27:46
Speaker 2: have been made for me and didn't necessarily cost a
27:49
Speaker 2: lot of money at all.
27:49
Speaker 4: Yes, I do not have the time.
27:51
Speaker 2: You will be getting a gift card, goodbye and away.
27:54
Speaker 2: I think that there's not necessarily a right answer. I
27:57
Speaker 2: think it's more about the expectation that's been put on you,
27:59
Speaker 2: because I think a gift is given with love and
28:02
Speaker 2: no expectation should be put on that at all. Like,
28:04
Speaker 2: you don't have to get me a gift.
28:05
Speaker 3: For my birthday.
28:06
Speaker 2: You got me digit that's the most exciting the other
28:09
Speaker 2: But if you've got me a handwritten card, I would
28:11
Speaker 2: have been equally as excited, and.
28:13
Speaker 4: That I wouldn't have known. Yeah, I wouldn't have so
28:15
Speaker 4: don't get me wrong, I appreciate that a lot. But
28:18
Speaker 4: gifting is my love language. I think I've shared before
28:22
Speaker 4: that I have a creepy list on my phone of
28:25
Speaker 4: all these things that people have mentioned totally they want
28:28
Speaker 4: or they're interested in, And like those comments are fleeting
28:33
Speaker 4: so like, I wish I could divulge what's on Jess's
28:35
Speaker 4: list right now, but I know those are things that
28:38
Speaker 4: in passing she's been like that is so cool. I
28:41
Speaker 4: would love that whatever. She's probably forgotten about half of those.
28:44
Speaker 4: So when I come to Christmas time and I might go, Jess,
28:47
Speaker 4: is there anything you want in particular, She's just gonna no,
28:49
Speaker 4: I can't think of anything. So that list is saving
28:52
Speaker 4: me because I know that that gift list like probably
28:56
Speaker 4: rangers from I think about thirty dollars to a couple
28:59
Speaker 4: of huns, just things that she wants. And I also
29:03
Speaker 4: just I don't mind what it is. I'm just gonna
29:05
Speaker 4: put it on the list. Like if Jess says, oh
29:08
Speaker 4: I want this, you know, thousand dollars brand new diceent
29:11
Speaker 4: Air rap, I'm gonna put it on my list because
29:12
Speaker 4: it's gonna help inspire me for when I am gift giving.
29:17
Speaker 4: So it gives me a theme of like, oh, Jess
29:19
Speaker 4: has said over time that she wants these things, and
29:22
Speaker 4: she wasn't asking for them. She was just in jest
29:24
Speaker 4: going like, oh my god, I would love x YZ.
29:27
Speaker 4: But keeping track of that is going to give me
29:29
Speaker 4: a good insight as to like where I should start
29:31
Speaker 4: looking if I'm looking for a gift at a different
29:33
Speaker 4: price point. So Jess last air rap, she's mentioned that
29:36
Speaker 4: she really wants the new one fantastic, but I don't
29:39
Speaker 4: have that in budget. Maybe haircare is a good place
29:42
Speaker 4: for me to start. Maybe I could go down the
29:44
Speaker 4: route of like buying her a really nice hairbrush or something,
29:46
Speaker 4: because clearly that's a line to her values. But it
29:50
Speaker 4: still feels thoughtful, And I mean it's going to change
29:53
Speaker 4: based on your personality. Some people are just not gift givers,
29:57
Speaker 4: like I et my husband, and that's not a bad thing.
30:00
Speaker 4: His love language is acts of service, so like come
30:03
Speaker 4: my birthday, he will try to give me nice gifts,
30:06
Speaker 4: and he absolutely does, but he's more about like I've
30:09
Speaker 4: booked this nice dinner, or I've woken up early and
30:13
Speaker 4: cleaned to the house and I've made pancakes and you're
30:14
Speaker 4: going to have them in bed, and like all of
30:16
Speaker 4: that stuff is his way of showing it. So it
30:18
Speaker 4: doesn't I don't know. I think you have to understand
30:20
Speaker 4: the person and their personality, yes, and what they like.
30:23
Speaker 4: But yeah, the list I feel is very helpful because
30:26
Speaker 4: it's not just about like, oh, I wrote a list
30:29
Speaker 4: and now I've got a list of expensive stuff that's
30:31
Speaker 4: not in much of for Jess. But sorry, Like if
30:34
Speaker 4: we look at Jess's list, I can show you later
30:36
Speaker 4: back there's like four hair care things on there totally,
30:39
Speaker 4: So like that gives me a really good insight as
30:41
Speaker 4: to maybe what she's interested in at the moment. Yeah,
30:44
Speaker 4: so that even if I'm getting her something that she
30:46
Speaker 4: hasn't asked for because I'm looking at a budget, it's
30:49
Speaker 4: really on brand for what she's currently engaging in totally.
30:52
Speaker 5: And if all else fails, I like to check people's
30:55
Speaker 5: Pinterest if they have one, I like to check you
30:57
Speaker 5: really follow on Instagram, like Baby's clever.
31:00
Speaker 3: Maybe they follow like Fentin and Fentin.
31:02
Speaker 5: I cannot afford anything from there, but but the vibe,
31:05
Speaker 5: the vibes, like maybe even like a cutlery set, like
31:08
Speaker 5: sometimes they have really nice place mats y like twenty bucks.
31:10
Speaker 4: So just follow see who you are way smarter than me.
31:13
Speaker 4: I just am a stalker.
31:14
Speaker 5: You got a stalk and then you end up but
31:17
Speaker 5: it does take hours because you do end up in
31:18
Speaker 5: like real rabbit holes, you know, Like, so see who
31:21
Speaker 5: they follow, and also what they engage content they engage in.
31:24
Speaker 5: Because sometimes I follow people that I would not like anymore,
31:26
Speaker 5: you know what I mean, like like styles I wouldn't
31:28
Speaker 5: like anymore. So I guess like do that if you
31:30
Speaker 5: have the time. Some people aren't super like creativity doesn't
31:34
Speaker 5: like excite them, and that's completely fine. But what you
31:36
Speaker 5: can do is, like say someone's really stressed, you can
31:38
Speaker 5: just make them like a hamper that with like written
31:40
Speaker 5: handwritten things.
31:41
Speaker 3: Like here is some salts. Do this first step one,
31:45
Speaker 3: have a bath, step two, make tea. But you're so.
31:48
Speaker 4: Thoughtful, like you have acts of service and gift giving
31:51
Speaker 4: as a love language or mashed together.
31:53
Speaker 5: It's a real it's a real combination and end up
31:56
Speaker 5: spending so much money.
31:57
Speaker 4: But so you can just do something like that.
31:59
Speaker 5: Where's like handwritten hampers that are just like yeah, yes,
32:04
Speaker 5: have a self careno, do this first, like a mind
32:07
Speaker 5: map of sorts, you know, and like I would love
32:09
Speaker 5: talking through the process. And then it's like so cheap salts,
32:12
Speaker 5: tea bags, that's all you need to spend. The rest
32:15
Speaker 5: is handwritten, you know, I think, like something that's like
32:18
Speaker 5: curated for them. Yeah, and it can be a gift
32:21
Speaker 5: card especially if it's something that is like niche. You
32:25
Speaker 5: say you've you've seen they follow Florian Florian homewares on
32:29
Speaker 5: wrath down Stree.
32:30
Speaker 4: I don't.
32:30
Speaker 3: If you guys know.
32:32
Speaker 5: Really great homewares, you get a gift card for something
32:34
Speaker 5: like that and they're like, oh, this is personal.
32:37
Speaker 2: You know.
32:38
Speaker 5: It's not as impersonal as like a Visa gift card
32:40
Speaker 5: or something, even though those are really cool. It's something
32:43
Speaker 5: very very.
32:43
Speaker 4: Much gift card.
32:45
Speaker 5: I love it. I love I love a gift card.
32:49
Speaker 4: If you're worried about the persons what I give every
32:51
Speaker 4: Christmas to all our team members, because I'm like, I do, sorry,
32:54
Speaker 4: what do we like better at Christmas than a gift cash?
32:58
Speaker 4: Absolutely so?
32:59
Speaker 5: And also are you going to spend it on something
33:00
Speaker 5: that you want to spend it on? If it was
33:02
Speaker 5: just cash, you're like you would do something.
33:04
Speaker 4: Don't get me wrong. I know Jess loves a mecha
33:06
Speaker 4: gift card, but like coming into Christmas, I'm like, here
33:09
Speaker 4: is a Visa gift card. I feel like I love
33:12
Speaker 4: it from an employer as well. It's very different than
33:15
Speaker 4: me gifting friends. So like the way I give Jess
33:18
Speaker 4: on her birthday and stuff is because we're friends, I
33:21
Speaker 4: really am her employer. But at Christmas, I'm like, well,
33:23
Speaker 4: everyone gets a quality, we all get exactly the same thing.
33:26
Speaker 4: I don't want to like do one thing for one
33:28
Speaker 4: person and then have them thinking wow, I feel so
33:30
Speaker 4: thought of, and then the next person being like, wow,
33:32
Speaker 4: she doesn't know me at all. Like I just do
33:33
Speaker 4: not want to set myself up for that. But also
33:36
Speaker 4: I don't know this joke. Actually I do know my
33:39
Speaker 4: most of my team's personal financial situations because of who
33:43
Speaker 4: I am and what I do, but I also don't know,
33:46
Speaker 4: and I don't want to guess. And sorry, visa gift
33:49
Speaker 4: card might be taking some pressure off you buying some
33:51
Speaker 4: Christmas gifts or chopping up the Christmas table or whatever,
33:55
Speaker 4: or do what you want with it and spend it
33:57
Speaker 4: on yourself. Absolutely, but just that idea that there's not
34:00
Speaker 4: a lot of strings attached to that gift. There's no
34:03
Speaker 4: like I have to spend it at Mecca. Yeah, but
34:05
Speaker 4: instead of really, I spent a mecha gift card this
34:07
Speaker 4: week and oh it felt so bad. Oh so Charlotte
34:11
Speaker 4: Tilbury holiday palette that's just come out. I can't remember
34:14
Speaker 4: what it's called, but it has the eye shadow It
34:16
Speaker 4: has the bronzes and it has the blush all in
34:19
Speaker 4: one little pink like rose goldie palette. And I was
34:23
Speaker 4: looking at the one from last year and I really
34:25
Speaker 4: wanted it, but I wasn't going to buy myself like
34:27
Speaker 4: a holiday palette. But I had a gift card that
34:30
Speaker 4: I've been hoarding in my wallet for so long, and
34:33
Speaker 4: I was like, actually, I'm going to get the palette
34:35
Speaker 4: and now I have it. It feels fancy.
34:37
Speaker 2: Yeah, And you were sparing money, and that's the benefit
34:39
Speaker 2: or power of a gift card. I know.
34:41
Speaker 5: I also on one of the gift card trains, what
34:43
Speaker 5: you know, but pread.
34:44
Speaker 4: Gift card, well, then be not pro gift card, all right.
34:46
Speaker 4: So we did ask the community a couple of questions
34:48
Speaker 4: before I so, well, what's your two cents? First, we
34:51
Speaker 4: asked how do you manage gift giving for adults? Forty
34:55
Speaker 4: six percent of you said, I just budget and I
34:57
Speaker 4: limited per person, which I think is fair. Thirty percent
35:00
Speaker 4: of people then said, we just do secret Santa style,
35:03
Speaker 4: which I think is I kind of love that the
35:06
Speaker 4: pressure has been taken off my friend group does that
35:09
Speaker 4: is twenty two percent of people said, well, actually, coming
35:11
Speaker 4: into Christmas, we only ever buy for the kids, and
35:14
Speaker 4: then two percent of people it must be nice said
35:18
Speaker 4: we just get whatever they ask for, no matter the budget. Oh,
35:21
Speaker 4: I couldn't, Dams, I have a Charistmas wish list for you.
35:25
Speaker 2: Yes.
35:27
Speaker 4: So the next question we asked was, Jess, how do
35:30
Speaker 4: we feel about gift cards? Thirty one percent of you
35:33
Speaker 4: said it's fine if it's thoughtful, twenty eight percent of
35:37
Speaker 4: you said love them so easy, twenty two percent of
35:40
Speaker 4: you said no, they feel impersonal, and eighteen percent of
35:44
Speaker 4: you said it's a pointless swap fest.
35:47
Speaker 2: I do understand that, Like I said, if it's like
35:48
Speaker 2: everyone's doing it once, you're all giving the same amount
35:50
Speaker 2: of money.
35:51
Speaker 4: But yeah, when we asked the community, I said, look, guys,
35:54
Speaker 4: what's your two cents? And I feel like the community
35:58
Speaker 4: has our backs. It's so funny sometimes I read through
36:00
Speaker 4: these and it's just validating because they're all like in
36:03
Speaker 4: the same headspace. First person said, I actually think it's
36:06
Speaker 4: so wild for someone to ask for a gift that
36:08
Speaker 4: costs more than hundred dollars. I completely agree, and I
36:11
Speaker 4: was like, you're right, queen. Yeah. Next person said, this year,
36:14
Speaker 4: I'm upfront and I'm just saying no, gifts like, not
36:16
Speaker 4: for them, not for me. I'd rather have a meal
36:18
Speaker 4: with them and actually spend quality time. Next person said,
36:22
Speaker 4: our family now skips the presence. Instead we just do
36:24
Speaker 4: a night away together. That's really fun. Someone said homemade
36:28
Speaker 4: gifts are literally the best. I'd take a homemade treat
36:31
Speaker 4: of any gift card, et cetera. What's your thing, homemade handmaid, No,
36:35
Speaker 4: homemade handmaid or second hand is on my husband's side
36:38
Speaker 4: of the family's like Christmas Secret Santa rules.
36:42
Speaker 3: That's very good.
36:43
Speaker 4: It's so fun too. I remember a couple of years
36:47
Speaker 4: ago I found on Facebook marketplace somebody I think it
36:50
Speaker 4: was like fifty bucks or something. They were selling a
36:53
Speaker 4: kid's kitchen and it was fun. Like if you've been
36:56
Speaker 4: listening for a while, you're reading this, you know this story.
36:59
Speaker 4: But apology, but Facebook marketplace kids kitchen for my niece
37:03
Speaker 4: and nephew. But it was like, the fancy one that
37:06
Speaker 4: was from Pottery Barn would have been so expensive. But
37:09
Speaker 4: when I got there, he's like, oh, and you can
37:11
Speaker 4: have everything in it, so like the little pots, the
37:14
Speaker 4: little pans, the veltgro freezing vegetables, like the little shopping basket. Everything.
37:18
Speaker 4: And I was like are you sure anyway? Fifty bucks
37:21
Speaker 4: best fiftyfty bucks I've ever spent. And I think they've
37:24
Speaker 4: only just gotten rid of it because they're now a
37:26
Speaker 4: lot older. Because it turns out this podcast is old,
37:29
Speaker 4: but it lived in their playhouse for ages and they
37:32
Speaker 4: they were obsessed, and that just barked so much joy
37:35
Speaker 4: and the idea that I was giving new life to it. Yeah,
37:37
Speaker 4: that's a great little way. I feel like, yes, definitely.
37:40
Speaker 1: So.
37:40
Speaker 4: Next person said I love gift cards when saving for
37:42
Speaker 4: a big purchase. I'm like Jess, I really want a
37:45
Speaker 4: kitchen aid, and I love knowing that everybody helped to
37:49
Speaker 4: get me a gift I really wanted. Another person said
37:52
Speaker 4: I always buy books. You can get something cheap but
37:55
Speaker 4: also really meaningful and personal. Cheese on the Money is
37:58
Speaker 4: a really good, really personal book for most people. So
38:01
Speaker 4: if you're looking for a Christmas gift or property with
38:03
Speaker 4: investing with money, yuh, any of them? I actually wrote
38:06
Speaker 4: five books. I wrote five. That's crazy. I won't do
38:10
Speaker 4: that again. Joke's on you. You'll probably try at some point. Anyway,
38:13
Speaker 4: I have two more for you. Next person said, I
38:16
Speaker 4: actually love giving restaurant gift cards, as they can be
38:19
Speaker 4: really fun and personal, but they're very easy. And then
38:21
Speaker 4: last person said, we actually all put in money for
38:24
Speaker 4: food for Christmas instead, and then everybody wins and we
38:28
Speaker 4: are all well fed, or different ways that people do
38:31
Speaker 4: it to start the conversation with your family, Like it
38:35
Speaker 4: doesn't just happen, Like it's not something that you go,
38:38
Speaker 4: oh my god, all of a sudden, we're doing Homeman
38:40
Speaker 4: hammam or secondhand, like you have to kind of be
38:42
Speaker 4: like in group chat, drop a few hints like hey,
38:45
Speaker 4: I was listening to a pod and this seemed like
38:47
Speaker 4: a really good way for us all to just like
38:49
Speaker 4: make Christmas a lot less stressful. So I would lead
38:52
Speaker 4: with that as opposed to like, oh, I want to
38:54
Speaker 4: make Christmas cheaper because some people don't take it the
38:56
Speaker 4: same way that you or I would like, Oh, it's
38:59
Speaker 4: a lot less stressful for only buying one gift and
39:01
Speaker 4: then someone gets a present that's worth a bit more.
39:03
Speaker 4: There's more value, more time and energy put into it,
39:06
Speaker 4: and what a cool concept. So I think that's probably
39:09
Speaker 4: where we should leave it this week.
39:11
Speaker 3: Yeah, let's gorgeous.
39:12
Speaker 4: Well, we'll see you bright and early on Monday morning
39:14
Speaker 4: for a money dary. But till then have the best
39:16
Speaker 4: weekend and guys do not forget. Ms jesscot Richie is
39:19
Speaker 4: the proud owner of a block of plans next Guys,
39:23
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39:39
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39:42
Speaker 4: to make an investment or financial decision. If you do
39:45
Speaker 4: choose to buy a financial product, read the PDS TMD
39:48
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39:50
Speaker 3: Advice tailored towards your needs.
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