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Inexcusable Inheritance Issue · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
0:33
Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money, She's on the Money.
0:57
Speaker 2: Hello, and welcome to She's on the Money, the podcast
1:00
Speaker 2: Millennials who want Financial Freedom. Today, my friends, is Friday,
1:05
Speaker 2: which means it is time to get our team back
1:07
Speaker 2: together finally to celebrate you how incredible She's on the
1:10
Speaker 2: Money community. Today, we're going to be sharing jess his
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Speaker 2: favorite money wins Beck is going to be back with
1:16
Speaker 2: her Broke Broke tips. We're also going to be helping
1:18
Speaker 2: to answer a juicy money dilemma, which this week is
1:21
Speaker 2: all about the best savings account for your future house deposit.
1:25
Speaker 2: And I'm excited for this one because it's a little
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Speaker 2: bit spicy. We're going to be unpacking something that you
1:30
Speaker 2: slid into our damns about which this week we're talking
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Speaker 2: about a husband who doesn't want to share his inheritance
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Speaker 2: with the rest of his family. Guys, I think it's
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Speaker 2: going to be a spicy one. But we haven't been
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Speaker 2: in the same room for the truly weeks. Beck, how
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Speaker 2: are you?
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Speaker 4: Oh my gosh, I really missed you. Guys.
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Speaker 5: Can you believe this has been like a a few weeks,
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Speaker 5: three weeks, three weeks Famari.
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Speaker 2: A month because you were sick.
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Speaker 5: I see, of course I forgot about that, and don't
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Speaker 5: be scared. But I'm still a little bit unwell. But
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Speaker 5: everyone is safe a couple of This is so cool.
2:01
Speaker 5: I'm so happy to be bad and I'm sure off
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Speaker 5: air will talk more about your American experience. But is
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Speaker 5: all very exciting. We're all back here and everything's been great.
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Speaker 5: I'm wonder if there's any news for you. I've just
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Speaker 5: been working my life away. There was some exciting things, obviously,
2:15
Speaker 5: been Halloween and stuff parties. I saw two fans in
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Speaker 5: the wild and Live and they came up to me
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Speaker 5: and said that you back from sches and the money
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Speaker 5: and this is never happy before, and it made my
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Speaker 5: whole life.
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Speaker 2: Isn't it so wholesome?
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Speaker 4: I love love, love, love love this.
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Speaker 5: If you think that, I don't want to be bothered
2:34
Speaker 5: out in the street, I see.
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Speaker 2: They're like, it's so. I don't know if this is strange,
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Speaker 2: but it's like meeting friends that you just forgot the
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Speaker 2: name of, if that makes sense, Like you already feel
2:45
Speaker 2: like you know them because you have to, like arguably
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Speaker 2: something really deep in common. I don't know. It's very cool.
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Speaker 4: Yes, it's so cool.
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Speaker 5: But look, other than that, I've just been chilling. I'm
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Speaker 5: really happy that you are.
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Speaker 2: You're here.
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Speaker 4: We're all weird, just so nice.
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Speaker 2: Miss Jessicci. You returned from Mexico earlier this week. How's
3:02
Speaker 2: did you lack? A bit rough? But that's okay. I
3:04
Speaker 2: hadn't been really good sleep on the plane. Thankfully. I've
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Speaker 2: got a little cozy mud United bed, which was a dream. Yeah,
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Speaker 2: couz Beck. She flew business class home. Oh no, that's nice, fancy.
3:17
Speaker 2: I remember a couple of weeks ago I said to
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Speaker 2: her on the pod, I was like, by the way,
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Speaker 2: we're flying business and it was like surprising her for
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Speaker 2: a domestic flight to Queens Flash, then you got to
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Speaker 2: fly to the US with United in business and home.
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Speaker 6: We're going to teach everybody the hacks for how to
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Speaker 6: do it with points. So keep your eye out because, honestly,
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Speaker 6: as someone who has never done that before, I now
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Speaker 6: understand why people spend.
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Speaker 2: Like I don't have the money to spend on it,
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Speaker 2: but you have the points. You're like the points Queen.
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Speaker 6: I love a point and I understand why people do
3:47
Speaker 6: because I slept for eleven hours on my fifteen hour flight.
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Speaker 2: Whoa eleven hours straight?
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Speaker 6: Literally Like I woke up a little bit and I
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Speaker 6: was like, I could go back to sleep. Do I
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Speaker 6: really want to do I really want to stay awake
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Speaker 6: and sit there and do we nothing. I was like, no,
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Speaker 6: I don't, And I went back and I had another
4:02
Speaker 6: bit more of a snooze and ice cream Sunday on
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Speaker 6: the plane.
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Speaker 2: They had it in Beck on the way over. Was
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Speaker 2: it the same on the way back? Yeah? Okay, So
4:09
Speaker 2: on the way over beck on the plane they had
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Speaker 2: a Sunday bar. Like it wasn't like, oh can I
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Speaker 2: just get you an ice cream? It was like this
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Speaker 2: guy his name was Andre. He was like the best.
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Speaker 2: He was our favorite flight attendant ever. I'm really sorry
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Speaker 2: to every other flight attendant we've ever flown with, but
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Speaker 2: he was like would you say he was like an
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Speaker 2: older French guy. Yeah, he was a slave. He was
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Speaker 2: my favorite person ever. But he came around with the
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Speaker 2: Sunday bar. It was like different types of ice creams,
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Speaker 2: different types of toppings. He had chocolate sauce, he had
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Speaker 2: caramel sauce, he had strawberry, he had like sprinkles, he
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Speaker 2: had the little Maraschino cherries. Okay, and he goes to Jessica,
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Speaker 2: what do you want? Just as like, I don't know,
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Speaker 2: it's so overwhelming. He's like, can I make you my special?
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Speaker 2: And Jess is like absolutely, and he just makes her
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Speaker 2: the massive ice cream Sunday. I've never seen happier. It
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Speaker 2: was amazing. Dream so really excited.
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Speaker 6: We're going to be making some content coming up soon
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Speaker 6: sharing how you guys can do that with Points, because
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Speaker 6: let's be honest, none of us want to pay.
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Speaker 2: I'm not paying full price for that, but did you
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Speaker 2: do it for free? Sign me right up there, and
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Speaker 2: Jess is arguably the Points queen, right yeah, Okay, We've
5:15
Speaker 2: got her to dip her toes in the water. I
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Speaker 2: think that's what she's going to be spending all of
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Speaker 2: her points on in the future.
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Speaker 5: Okay, this is I want to I love her tuning.
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Speaker 2: How are you feeling, VD tired? Very pregnant? Yes, very pregnant.
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Speaker 2: I'm definitely not about to pop. Please don't wish that
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Speaker 2: on me just yet. But it's funny over the last
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Speaker 2: few weeks, especially traveling internationally, I'm like, oh, I have
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Speaker 2: a lot less lung capacity than I remember. But that's okay.
5:44
Speaker 2: You're very speedy for a pregnant woman trying to keep
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Speaker 2: up with you. Sometimes when you walk, that's because you
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Speaker 2: walk at this nails pace Jessica. Honestly, I swear Jes
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Speaker 2: just dordles. I like to look at the world.
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Speaker 4: She dearly dellies.
5:57
Speaker 2: But that's what you get, right. So we traveled with jess,
6:00
Speaker 2: We traveled with Gabby, and then myself and Brooke, And
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Speaker 2: myself and Brooke both have diagnosed davy HD, And then
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Speaker 2: Jess and Gabby I just neurotypical, Like they're just normal
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Speaker 2: gowls working around living their life. Sure, Brook and I
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Speaker 2: got a mission. We got to go we're gonna go
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Speaker 2: up the front, and so Brooke and I would speed
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Speaker 2: off and then be like, oh where are the girls?
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Speaker 4: And the mission will change a million times.
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Speaker 2: Imagine oh, a squirrel were going that way. I wish
6:27
Speaker 2: that was just a good example, but that's actually what
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Speaker 2: happened in Central Park and it was so good.
6:33
Speaker 6: If you guys haven't seen, definitely head to our instagram
6:35
Speaker 6: because we put a heap of really fun little recap videos.
6:37
Speaker 6: We're doing a new series called The Price Is Right,
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Speaker 6: which has been super fun.
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Speaker 2: This week we filmed the Prices Right video Jess, where
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Speaker 2: did we film that? From a hot air balloon over Melbourne?
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Speaker 2: Over Melbourne seven eleven took us on their maiden voyage
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Speaker 2: of their hot air balloon that they have just instated,
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Speaker 2: and we had some coffees in the sky. But also
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Speaker 2: Jess was like, let's do the Price is Right on
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Speaker 2: this Melbourne icon and I was just like, genius.
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Speaker 6: That's everybody at home, Price is right? How much do
7:07
Speaker 6: you think it costs to build the Melbourne I the
7:10
Speaker 6: big Ferris Wheelfing and then head to our instagram to
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Speaker 6: learn the answer. Because we had a bunch of community
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Speaker 6: members with us on the balloon, which was so fun
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Speaker 6: and they all guessed and the price rangers were actually hilarious.
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Speaker 6: So what do you think that price is right?
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Speaker 2: How much you think it costs to build the mel
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Speaker 2: and I.
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Speaker 5: If I feel like I heard this somewhere ages ago
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Speaker 5: and I remember it being tantable, but I don't remember
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Speaker 5: the exact price.
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Speaker 4: I'm going to say two million.
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Speaker 2: Two million. Okay, it's a little bit. Let's move on.
7:42
Speaker 2: Let's move on. I want to get on to my
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Speaker 2: favorite part of the show, Miss Jessic gotchi. What have
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Speaker 2: you got when it comes to money wins and confessions?
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Speaker 2: This week?
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Speaker 1: All right?
7:49
Speaker 2: This week?
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Speaker 6: My first money win comes from Emma, who said I
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Speaker 6: had my baby shower on the weekend, and instead of
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Speaker 6: gifts that I don't need, I asked for cash and
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Speaker 6: gift cards that I will contribute to our first holiday
7:59
Speaker 6: as a fair four.
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Speaker 2: Oh that's actually really really smart, right, you just wouldn't
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Speaker 2: think about it. I've been on the fence about a
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Speaker 2: baby shower because I'm kind of like, oh do I
8:09
Speaker 2: meet it?
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Speaker 4: Like, I don't know, maybe celebration.
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Speaker 2: Well, I was gonna ask everybody to bring a book
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Speaker 2: oh that I like, build baby's first library, and then
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Speaker 2: I don't want you to bring a card. I want
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Speaker 2: you to write in the front of the book for Bambino.
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Speaker 4: I love that.
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Speaker 2: I think that'll be cute. But I like that idea
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Speaker 2: better because I like a holiday, So maybe I'll just
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Speaker 2: give it. It's going to cost you a bit more
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Speaker 2: than a book this time.
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Speaker 6: Back next, I've got a money in from Sofia, who said,
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Speaker 6: I've been wanting a diceon air up for a long time,
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Speaker 6: but I could not justify at nine hundred and fifty dollars.
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Speaker 2: I can't believe that I hundred fifty dollars. I'm sorry,
8:40
Speaker 2: but that was the best invention. I am obsessed with
8:43
Speaker 2: the thing, the air app. Oh, we're in a committed relationship.
8:46
Speaker 2: Bet we do love an air up in this office.
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Speaker 6: It does it blow, drives, it curls, it does it
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Speaker 6: all as wet for attachment anyway, Sophia said, I found
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Speaker 6: it for six hundred and fifty dollars on catch of
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Speaker 6: the day, and then I compacted Dyson and they were
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Speaker 6: happy to.
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Speaker 2: Price match money.
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Speaker 6: We It was also my birthday and my family decided
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Speaker 6: to contribute towards the air rap as a gift. So
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Speaker 6: after all, it just cost me one hundred and fifty
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Speaker 6: bucks money.
9:09
Speaker 4: And Happy birthday, Sophia, Happy birthday.
9:11
Speaker 2: Happy birthday. Enjoy your air rap. I know this isn't sponsored.
9:14
Speaker 2: I'm just obsessed.
9:16
Speaker 6: Next, I've got money in from Innes who said I
9:18
Speaker 6: ended up not buying anything in click Frenzy.
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Speaker 2: Oh very goodly, snaps for you, queen, Good for you.
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Speaker 6: Next one from Caitlin who said I've got five hundred
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Speaker 6: dollars to spend on Christmas expenses after saving my fly
9:30
Speaker 6: Lives points all year. I am stoked with myself and
9:32
Speaker 6: she had a little screenshot of.
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Speaker 2: A flyby that's actually genius.
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Speaker 6: She has one hundred and two thousand points. Oh, well done, queen,
9:38
Speaker 6: well done.
9:38
Speaker 2: I have been hoarding my shop back rewards, Jess, and
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Speaker 2: because we've traveled a fair bit over the last few months,
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Speaker 2: I have like nearly nine hundred and fifty in shopback rewards.
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Speaker 2: There this moment is going to be cashing out and
9:53
Speaker 2: buying presents with Jean. Yes, well done you.
9:56
Speaker 6: If anyone doesn't have shot back, don't forget. They increased
9:58
Speaker 6: our cove, they increased own I don't I think I've
10:00
Speaker 6: said this on the podcast, so I don't think you've
10:02
Speaker 6: said that to me before. Fy SotM twenty give you
10:06
Speaker 6: twenty bucks when you sign up what it used to
10:07
Speaker 6: be ten?
10:08
Speaker 2: Yeah? No double double money in can I unsign up
10:11
Speaker 2: and then re sign up for my twenty bucks?
10:13
Speaker 6: You might have to give up your nine hundred dollars,
10:15
Speaker 6: So I don't know if that makes sense.
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Speaker 2: I will not be doing worth it, worth it whatever next.
10:21
Speaker 6: I've got two money wins that are the kind of
10:24
Speaker 6: the same. So I have one from Maddie who said
10:26
Speaker 6: I arrived at six thirty am at the new LSKD
10:29
Speaker 6: store opening in Melbourne on Saturday and scored myself some
10:32
Speaker 6: free tights. And then Gabrielle was also in that line
10:35
Speaker 6: because she said LSKD tights swap. I got three hundred
10:38
Speaker 6: dollars types at the new Melbourne Central store opening on
10:40
Speaker 6: the weekend slay. I was really sad that I was
10:43
Speaker 6: on a plane when they opened, because I would have
10:45
Speaker 6: been in that line.
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Speaker 2: Which you have LSKD tights before? We love them, They're
10:49
Speaker 2: so so good and I have them. Huh, she's literally
10:52
Speaker 2: wearing them right now, cause she's literally wearing them. And
10:55
Speaker 2: look what does her shirt say?
10:58
Speaker 7: Oh you got before we move on, could we please
11:04
Speaker 7: get a clip of that Jessica throwing her leg in
11:07
Speaker 7: the air mid podcast and just share that with the
11:09
Speaker 7: rest of the pod community.
11:10
Speaker 2: I think they need to see. Save don't cut this
11:14
Speaker 2: part out of the podcast to our Instagram. I put
11:17
Speaker 2: it on there.
11:17
Speaker 6: Oh god, last they have the money from analysis that
11:20
Speaker 6: I cooked my daughter her first birthday cake. I saved
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Speaker 6: some money. Cake can be so expensive and it turned
11:26
Speaker 6: out really great.
11:27
Speaker 2: Thanks to YouTube for the extra tips. And you know
11:30
Speaker 2: we love a little pitchy. That's so nice.
11:33
Speaker 6: It's got some butter moments. Yeah, the buttercream looks stunning.
11:36
Speaker 6: That's amazing what you can learn to do on YouTube.
11:39
Speaker 4: Yeah, seriously.
11:40
Speaker 2: I also just don't I don't know. This is another
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Speaker 2: spicy Victoria to my opinion. We all know that I
11:45
Speaker 2: love a party. Yeah, like it is. I would love
11:49
Speaker 2: to think that I'm Queen of the party. Love a cake.
11:52
Speaker 2: When I have this baby, it will be getting Cole's
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Speaker 2: mud cakes. They don't know the difference, right, Like when
11:59
Speaker 2: you're one, Like you don't get a Barbie masterpiece. No,
12:03
Speaker 2: you're not going to appreciate.
12:05
Speaker 4: You'm not gonna appreciate it.
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Speaker 2: You are one He is a Cole's mud cake with
12:09
Speaker 2: a candle.
12:10
Speaker 6: In it, just like my favorite is parents for like
12:12
Speaker 6: the first couple of like birthdays and Christmases. When you
12:15
Speaker 6: just go, oh, that toy I gave you six months ago.
12:17
Speaker 2: Wrapped up under the tree, You're not gonna know. That's
12:20
Speaker 2: gonna be me kitchen towel, Merry Christmas. Yes, if they're
12:24
Speaker 2: obsessed with the dog toys, I'm gonna wrap those dog
12:27
Speaker 2: toys up. And what it gives them to them, it's
12:29
Speaker 2: the experience of opening presents. It's a joy. And as
12:32
Speaker 2: long as they have the joy, that's a really good
12:35
Speaker 2: money tip. If you have a toddler, just wrap up
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Speaker 2: the stuff that they haven't played with in a while.
12:41
Speaker 2: They'll be stoked.
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Speaker 5: They will have no idea. It's a fresh new present
12:44
Speaker 5: for them. I think this is genius.
12:47
Speaker 4: It's a great idea.
12:48
Speaker 2: Good little brut tip for you there. Oh, I love that.
12:50
Speaker 2: Speaking of let's segue straight into that, miss Beck, I
12:54
Speaker 2: have missed our broke tips. Something shocking. It's been a
12:58
Speaker 2: while a while, I know, so I want to know
13:01
Speaker 2: what are you bringing to the table this week. I
13:03
Speaker 2: hope they're good. You've had a lot of time to
13:04
Speaker 2: plan a lot of time. Oh no, the pressure's on.
13:07
Speaker 2: No pressure, no pressure, just don't make them terrible, all.
13:10
Speaker 5: Right, of course? Okay, So as per we have two
13:13
Speaker 5: from the community. First one comes from Sabrina. Sabrina suggests
13:17
Speaker 5: that instead of doing a shopping list for what you
13:21
Speaker 5: need at home, instead spend a whole day going through
13:24
Speaker 5: your pantry, your fridge and everything and do a stock
13:27
Speaker 5: list of what you already have and then keep like
13:30
Speaker 5: updating that as you go, because I don't know, I've
13:32
Speaker 5: mentioned this before, where you like go out and you
13:34
Speaker 5: need to buy like cuman or salt or something, and
13:36
Speaker 5: you come home and you have like twenty of the
13:38
Speaker 5: same thing. But instead to do a stop list of
13:40
Speaker 5: everything you own, things that are right at the back
13:42
Speaker 5: of the pantry, some old pasta or whatever, you might
13:45
Speaker 5: end up having so much food and not have to
13:49
Speaker 5: go to the grocery store at all.
13:50
Speaker 2: There are three types of peanut buttery in my hayes.
13:53
Speaker 6: Exactly have you seen those vintage This is very niche,
13:56
Speaker 6: those vintage shopping lists.
13:59
Speaker 2: I'm realizing this might not be interesting to anyway except me.
14:03
Speaker 6: There's these I like, she's just committed though.
14:08
Speaker 2: Story You can cut it out.
14:10
Speaker 6: If you're on I like history, and they used to
14:12
Speaker 6: have these. There would be like little metal rectangles and
14:14
Speaker 6: it would have all of your staples like egg, milk,
14:17
Speaker 6: bread butter, whatever, eggs like bread butter, eggs.
14:24
Speaker 4: You need to buy.
14:27
Speaker 6: Just very excited anyway, and they have little little toggles,
14:31
Speaker 6: and so you would have it like if you had it,
14:33
Speaker 6: you would have it togged to the left or whatever side.
14:35
Speaker 6: If you didn't have it, you would switch the toggle.
14:37
Speaker 4: Sure like you.
14:46
Speaker 2: Interesting, like, oh, you could just write a list. It's
14:51
Speaker 2: not quite translated. Wait, let me find a photo. You
14:53
Speaker 2: don't need the photo. I know exactly what you're talking about.
14:55
Speaker 4: I'm sorry, I was trying to not laugh, but but
15:00
Speaker 4: I love this market. That's fuck this idea.
15:07
Speaker 2: We can talk about this idea offline.
15:09
Speaker 4: Oh I've never seen that before.
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Speaker 2: Very very but I live on TikTok, so I see
15:17
Speaker 2: moving right along. What's your nextreaciate?
15:19
Speaker 5: That's very much okay. So this next one comes from Jade.
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Speaker 5: This one is actually genius. So I hope that I'll
15:25
Speaker 5: explain this properly because it's a little bit it's a
15:27
Speaker 5: little bit hard to explain, but basically, what.
15:29
Speaker 2: Is it hard to explain, is Jesse's shopping case.
15:32
Speaker 4: I don't think anything is as hard to This will
15:36
Speaker 4: be very close to so.
15:39
Speaker 5: Jade says that when ordering online from Woolly's, place your
15:42
Speaker 5: order on a Tuesday with delivery pickup for Wednesday afternoon
15:46
Speaker 5: slash Thursday, you will get Tuesday's specials when you place
15:50
Speaker 5: the order. You can then modify your order early Wednesday
15:55
Speaker 5: to remove slash ad items that have now gone on special,
15:59
Speaker 5: so you're basically getting dipping.
16:01
Speaker 4: Yeah, she's a genius. You see you keep last.
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Speaker 5: Week's specials and you now have the next week's specials.
16:08
Speaker 4: Does that make sense?
16:08
Speaker 2: Could edit it?
16:09
Speaker 4: You can edit it if.
16:10
Speaker 2: It's like, but do you lose the discount? Not?
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Speaker 5: No, you keep last week's discount and then you you
16:17
Speaker 5: remove the items that are now on special if there
16:19
Speaker 5: are any, and you put them back in. Now you've
16:22
Speaker 5: got two lots of specials, two weeks worth of specials.
16:25
Speaker 4: If that is actually glitch, so let's it's not.
16:31
Speaker 2: If you're listening or you're not, you're.
16:33
Speaker 4: Not give that. That sounds great.
16:34
Speaker 2: You already make enough profits sit down there exactly.
16:37
Speaker 4: So I think that's genius and I never thought to
16:39
Speaker 4: do that for so.
16:40
Speaker 2: It's really smart and you well articulated, what's your broke?
16:48
Speaker 4: Okay, so this one as usual a bit rogue.
16:52
Speaker 2: Really I didn't see what's coming.
16:54
Speaker 4: Okay, so appervently.
16:57
Speaker 2: If just checking, is this legal? This is legal in Australia.
17:03
Speaker 2: It's legal in Australia. It's maybe not, depending on your situation.
17:07
Speaker 2: I might not recommend, I might not condone. Interesting, Oh
17:10
Speaker 2: my god, why did I ask you?
17:12
Speaker 4: That's probably good that you did.
17:14
Speaker 5: If you dust baking soda on top of super glue,
17:16
Speaker 5: it hardens almost instantly. So let's so you have a
17:19
Speaker 5: chip in your wind screen or.
17:21
Speaker 2: Oh my god, are we sure that that's legal?
17:24
Speaker 4: It's probably it's probably not. It's not advised.
17:28
Speaker 5: It's just like if you have like a little like
17:29
Speaker 5: plastic items, maybe shoes, maybe things like that that aren't
17:33
Speaker 5: like glass or anything.
17:34
Speaker 4: Maybe not your windscreen. Actually, forget that I said wind screen.
17:36
Speaker 2: I'm gonna lie. I never needed baking soda for super glue.
17:40
Speaker 2: Not dry.
17:41
Speaker 4: It's like a resin. It's like a resin substance.
17:43
Speaker 5: That's what I'm science here. It makes it makes like
17:47
Speaker 5: a resin sort of substance. It's obviously not resin.
17:50
Speaker 2: But I can't be trusted with super glue, So this
17:52
Speaker 2: is a great tip for you.
17:53
Speaker 5: Yes, yes, yes, so do you do try when you're
17:56
Speaker 5: baking soda super glue it hardens immediately, so make sure
17:59
Speaker 5: it's all ready to go.
18:01
Speaker 4: You don't want to start pouring when it's not.
18:03
Speaker 5: But like, let's say you have chip in again, I'm
18:06
Speaker 5: gonna say, let's do let's say no. As soon as
18:09
Speaker 5: you it hardens instantly, hardens instantly, so you hold it
18:12
Speaker 5: if you're in a rush, if you superglue something totally
18:15
Speaker 5: like me and my together, like that's the only memory
18:18
Speaker 5: I have super glue.
18:19
Speaker 4: That's very true.
18:20
Speaker 5: Or if I've never done this because I've never got
18:21
Speaker 5: my nails done. But let's say your nail falls off.
18:24
Speaker 2: If your nails, no, I've definitely done that. I can
18:27
Speaker 2: understand that maybe you haven't experienced that, but I definitely have.
18:31
Speaker 2: In fact, I have reglued this nail on this week
18:33
Speaker 2: with super glued.
18:34
Speaker 4: Ah, did you use baking soda?
18:36
Speaker 5: No, So maybe it's not going to work out long
18:38
Speaker 5: term for us. Really disappointing, but that is a I
18:42
Speaker 5: guess like it's a pretty good I'm going to try.
18:44
Speaker 2: For science, because I'm totally to see what happened totally.
18:46
Speaker 4: And you don't.
18:47
Speaker 5: You don't end up needing to, you know, go out
18:49
Speaker 5: and buy a new topwear or glass jars, whatever it
18:52
Speaker 5: is that you're using your friends and filling a hole
18:54
Speaker 5: and you're feeling eating something.
18:55
Speaker 2: It's filling a hole. No, but you could use it.
18:57
Speaker 4: To bond as well.
18:58
Speaker 2: It does not sound food safe.
19:00
Speaker 6: I don't know how you put the baking soda if
19:02
Speaker 6: you're bonding some.
19:03
Speaker 2: That's what I mean. You mix the baking soda with
19:05
Speaker 2: the super glue and then use it, or do you
19:06
Speaker 2: put the super glue in and then stuff some baking
19:09
Speaker 2: soda on like house.
19:10
Speaker 4: I'm saying if you're.
19:11
Speaker 5: Like, let's say, like you have a plate, you put
19:12
Speaker 5: the plate together, you put your super blue in, and
19:14
Speaker 5: then you dost thing on top right instantly.
19:18
Speaker 2: Plate. It's a good example plate. It's a good example plate.
19:20
Speaker 2: It's a great shal example. I still don't think it's
19:24
Speaker 2: food safe. Let's leave this conversation here because after the break,
19:27
Speaker 2: which I cannot wait for, we're going to be discussing
19:29
Speaker 2: what the best savings account for your future house deposit is.
19:32
Speaker 2: But we're also getting to the spicy topic of someone's
19:35
Speaker 2: husband in our community got an inheritance and didn't want
19:38
Speaker 2: to share it with his wife, and we need to
19:40
Speaker 2: talk about it, so guys, do not go anywhere. Welcome back, everybody.
19:48
Speaker 2: Let's take a listen to this week's money dilemma, shall we? Hi?
19:53
Speaker 3: There?
19:54
Speaker 2: Have you got a money dilemma you just can't solve?
19:56
Speaker 2: The Sheese on the Money team is here to help.
19:59
Speaker 2: Every week, we tackle your dilemmas, both big and small,
20:02
Speaker 2: to answer your most burning money, career and life questions.
20:05
Speaker 2: To get involved, simply head to our website and leave
20:08
Speaker 2: us a short voice recording and you might just find
20:10
Speaker 2: yourself on the show. Now, let's take a listen to
20:12
Speaker 2: this week's money dilemma.
20:17
Speaker 8: Hish is on the Money. I am such a big
20:19
Speaker 8: fan of the podcast and I'm hoping you can help.
20:21
Speaker 8: I have a question about investing. I've saved up a
20:24
Speaker 8: house deposit and I'd like to do something with around
20:26
Speaker 8: fifty thousand dollars of it. It's currently sitting in a
20:29
Speaker 8: savings account of about four and a half percent. However,
20:33
Speaker 8: I'm wondering if I should do something better with the
20:35
Speaker 8: money to make it work harder. For me, would it
20:37
Speaker 8: be best to put it in a bond or an
20:39
Speaker 8: index fund or some high interest savings account. I wouldn't
20:42
Speaker 8: be looking at purchasing for about another year. And it
20:45
Speaker 8: feels silly just having such a large sum sitting there.
20:48
Speaker 8: Thank you so much.
20:49
Speaker 2: I know what you're gonna say, so I might as
20:50
Speaker 2: well just let you say it. No, what am I
20:52
Speaker 2: going to say? Make me redundant? I'm going to go
20:54
Speaker 2: on matt leave at some point. I need to test
20:55
Speaker 2: your Yeah, this is your probation test.
20:59
Speaker 6: No, you have said before, like, we don't invest anything
21:03
Speaker 6: for the short term because market volatility over the period
21:06
Speaker 6: of a year, there's a very high level of risk
21:08
Speaker 6: that you will experience volatility and that your money could
21:11
Speaker 6: be impacted. So if you put forty grand in out,
21:13
Speaker 6: it could be forty grand next year. You just don't know,
21:15
Speaker 6: it could be sixty not saying it will go up,
21:17
Speaker 6: not saying it will go down. But it's high risk, right,
21:20
Speaker 6: so you would want to put it if you're putting
21:21
Speaker 6: it anywhere somewhere safe. Bonds generally are longer term, right,
21:26
Speaker 6: so you might be able to I don't know too
21:27
Speaker 6: much about bonds.
21:28
Speaker 2: We have a good episode on it, though we do
21:29
Speaker 2: have a good episode on bonds. I would say maybe
21:32
Speaker 2: you could consider a bond is a more conservative option. However,
21:35
Speaker 2: they usually have longer term or commitments, So bond in
21:40
Speaker 2: Australia is usually a ten year commitment. And if you
21:43
Speaker 2: went into it for twelve months and then pulled your
21:45
Speaker 2: money out, you would be foregoing any interest you had
21:48
Speaker 2: urged you already done. It actually makes no sense. You
21:51
Speaker 2: are correct. I would never recommend investing for the short term.
21:55
Speaker 2: Obviously you do, you Booth, and I'll do me. But
21:58
Speaker 2: you're right, market latility over twelve months is way too short.
22:02
Speaker 2: If hit the nail on the head, I'm actually redundant now, Beck,
22:05
Speaker 2: So I would just honestly useless. So I would just
22:09
Speaker 2: see myself out.
22:10
Speaker 4: But it kind of awkwardly, it's still here.
22:12
Speaker 2: Just let me have a turn. Just let me have
22:14
Speaker 2: a turn, all right.
22:15
Speaker 4: You can have one shot.
22:17
Speaker 2: So we are talking at the moment a lot about
22:19
Speaker 2: like the rise and cash rate and how much that
22:20
Speaker 2: sucks for people with mortgages. Already you're in this beautiful
22:23
Speaker 2: position where this actually benefits you. So historically I have
22:27
Speaker 2: said on the podcast air high interest Savings accounts, like,
22:30
Speaker 2: you know, they're not all sunshine and roses because they
22:33
Speaker 2: dropped down to like less than one percent return yeah,
22:36
Speaker 2: mimus point seventy five at one point yeah, and it's
22:38
Speaker 2: like not that sexy, right, But now you can get
22:40
Speaker 2: a high interest savings account for like five point six percent.
22:43
Speaker 2: That's really sexy. What we do need to remember about that, though,
22:46
Speaker 2: is that you will be paying your marginal tax rate
22:49
Speaker 2: on that five point six percent. You don't get five
22:51
Speaker 2: point six percent clean because any money that you earn
22:54
Speaker 2: in Australia will be taxable income even on your like
22:58
Speaker 2: on your savings account. Still, that's a money win. You
23:01
Speaker 2: might lose, you know, thirty two and a half cents
23:03
Speaker 2: in the dollar. I don't mind if you lose that
23:05
Speaker 2: amount when you're actually making you know, significantly more. So
23:09
Speaker 2: I think at this point in time, while it's not
23:12
Speaker 2: personal advice, I would be looking at high interest savings
23:15
Speaker 2: accounts with some level of scrutiny like what are they returning?
23:19
Speaker 2: But what is also the criteria? So there are some
23:22
Speaker 2: accounts out there at this point in time that go, beck,
23:25
Speaker 2: we'll give you that five point six percent return, but
23:27
Speaker 2: you have to be spending fifteen hundred dollars a minimum
23:31
Speaker 2: from that account, and you have to be depositing a
23:33
Speaker 2: minimum of two thousand dollars into the account. So read
23:36
Speaker 2: the terms and conditions before you sign up to something
23:39
Speaker 2: that you go, oh, that looks really sexy. Don't just
23:41
Speaker 2: sign up because you know the shiny marketing got you.
23:44
Speaker 2: Make sure that you understand what the crux of that
23:47
Speaker 2: is and how long you need to have your money
23:49
Speaker 2: in there. If there's some kind of term deposit on it,
23:52
Speaker 2: they might go, oh, well, it's a term deposit for
23:53
Speaker 2: twelve months. That's fine if you don't want to touch
23:56
Speaker 2: it for twelve months, but don't forget. If you break
23:58
Speaker 2: a term deposit in the same way breaking a bond,
24:00
Speaker 2: you forego any of the interests that you've earned, and
24:03
Speaker 2: that can actually shoot you in the foot. So I
24:05
Speaker 2: think you're right, Jess. I could never recommend investing so
24:08
Speaker 2: like a bond or an ETF like it's just honestly
24:11
Speaker 2: not worth your time. But popping it into a high
24:15
Speaker 2: interest savings account wouldn't be the worst idea you've ever had.
24:18
Speaker 4: Love that quick and clean.
24:19
Speaker 2: Now let's get to the good stuff. Yay, all right,
24:22
Speaker 2: Jess is right, We've answered our question and now it
24:25
Speaker 2: is onto the spicy stuff. One of you slid into
24:27
Speaker 2: our DMS this week? Are you ready?
24:29
Speaker 4: M ready?
24:30
Speaker 2: Okay, here's the message we got. Hey girls. I would
24:33
Speaker 2: love some advice because I'm feeling pretty flat. My husband
24:37
Speaker 2: recently inherited a large amount of money. It's about three
24:40
Speaker 2: hundred thousand dollars, and very much to my surprise, he
24:44
Speaker 2: said he does not want to share it with our family,
24:47
Speaker 2: which includes myself and our five year old son. We
24:50
Speaker 2: own a house together, we've been married for more than
24:53
Speaker 2: eight years, and share all other finances. I suppose I
24:57
Speaker 2: expected him to keep a little bit for himself, but
25:00
Speaker 2: I thought he would put a majority of it towards
25:02
Speaker 2: assisting the family, or at least take a nice holiday altogether. However,
25:07
Speaker 2: he has said many many times that he feels the
25:10
Speaker 2: money is his and he wants to keep it for himself,
25:12
Speaker 2: to perhaps buy a new car or something like that.
25:16
Speaker 2: I just feel so confused. We have such a strong
25:19
Speaker 2: relationship and I would never expect this from him. If
25:21
Speaker 2: it was in reverse, I would one hundred percent view
25:24
Speaker 2: the money as both of ours, and it's really upsetting
25:27
Speaker 2: that he doesn't see it this way, any advice would
25:30
Speaker 2: mean so much? Are you kidding? That's crazy to me, Like,
25:34
Speaker 2: this isn't your girlfriend expecting you to spend an inheritance
25:38
Speaker 2: on her going to Europe. This is your wife expecting
25:42
Speaker 2: you to pay some of the mortgage off with your
25:45
Speaker 2: shared finances for your actual child. I am, I don't know.
25:50
Speaker 2: I usually try to be really like you know, on
25:53
Speaker 2: the fence about this, the audacity. You are married, you
25:58
Speaker 2: have a child, Like, why aren't we putting your entire
26:02
Speaker 2: wealth creation journey first? That's three hundred thousand dollars. That's
26:06
Speaker 2: life changing. Yeah.
26:07
Speaker 6: I think it's the fact that they fully share finances
26:10
Speaker 6: that gets me, Like, if you operated your finances independently
26:12
Speaker 6: while being in a relationship, I could see a bit
26:15
Speaker 6: more roomfully way there. But I would love to know
26:18
Speaker 6: what he's planning on doing with the money, because, as
26:21
Speaker 6: you said, three hundred thousand dollars is so much money,
26:23
Speaker 6: and if he goes, oh, I don't want to share
26:24
Speaker 6: it with the family. I don't want to go on
26:26
Speaker 6: a holiday. I don't want to pay off the mortgage.
26:27
Speaker 6: I don't want to do whatever with it, putting toward
26:29
Speaker 6: school fees. What are you are you going to invest
26:32
Speaker 6: it in which case? In which case is that income
26:35
Speaker 6: going to come back? And you know, support the family
26:38
Speaker 6: that way, Like are you spending three hundred thousand dollars
26:40
Speaker 6: on a yacht? Like where are you planning on putting it?
26:44
Speaker 6: If you don't want to share, it's kind of my question,
26:46
Speaker 6: you know.
26:46
Speaker 2: I find it wild. I do want to caveat this
26:49
Speaker 2: before we continue the conversation. I do apologize. So I
26:53
Speaker 2: used to work in wealth creation and my I guess
26:57
Speaker 2: expertise was in inheritance, right, So I think it's really
27:00
Speaker 2: important to point out that one, I know what we're
27:03
Speaker 2: talking about when it comes to inheritance, but also to
27:05
Speaker 2: nobody wants to get an inheritance. They would much prefer
27:08
Speaker 2: to have that person back. And I think that it's
27:10
Speaker 2: so important, especially when you know I was talking to
27:13
Speaker 2: ex clients. I'd sit them down and be like, cool,
27:15
Speaker 2: where did this money come from? And someone might go, oh,
27:18
Speaker 2: it was from my mum's estate. I'd be like, tell
27:20
Speaker 2: me about your mum. I want to learn more about
27:22
Speaker 2: this human How do we honor this human being and
27:25
Speaker 2: what they've left you to create a legacy, Like what
27:28
Speaker 2: does that actually look like? Because for some people, you
27:31
Speaker 2: might be inheriting, in this instance, three hundred thousand dollars.
27:34
Speaker 2: For some people, it might be ten thousand dollars. For
27:36
Speaker 2: others it might be millions. But that is still what
27:39
Speaker 2: that person has left you in order to put you
27:42
Speaker 2: in the best possible position beck when they can't be
27:45
Speaker 2: there anymore. So I totally understand that there's always an
27:49
Speaker 2: emotional connection to an inheritance, But I don't think I've
27:53
Speaker 2: ever seen someone go, oh well, I don't want to
27:56
Speaker 2: share it with my wife on a buy a car.
27:57
Speaker 2: I'd just go, oh okay. Like to me, an inheritance
28:03
Speaker 2: deserves to be honored, It deserves to have a lot
28:05
Speaker 2: of thought put into it. It deserves to have the
28:08
Speaker 2: opportunity to grow, because it's kind of like, you're never
28:11
Speaker 2: going to come into three hundred thousand dollars again. How
28:14
Speaker 2: do we put this to work so that it works
28:17
Speaker 2: so hard for you so you don't have to So
28:19
Speaker 2: I think let's just caveat a whole inheritance conversation with
28:23
Speaker 2: everyone at this table that's having this conversation understands that
28:26
Speaker 2: that's a really big responsibility. But now we're talking about
28:30
Speaker 2: making a choice to not benefit the family and spend
28:33
Speaker 2: it frivolously when you have financial responsibilities.
28:36
Speaker 4: Totally.
28:37
Speaker 5: I think when I was listening to that, I kind
28:38
Speaker 5: of went it was a full emotional rollercoaster of At
28:41
Speaker 5: first I was like, Wow, that's really bad, and then
28:42
Speaker 5: I was like oh, and then I was like hmm,
28:44
Speaker 5: and now I'm still like huh. And I think like,
28:48
Speaker 5: and in my mind, I'm kind of thinking, like, if
28:49
Speaker 5: the not to like bring gender into this at all,
28:52
Speaker 5: Like I don't want to be that person. But let's
28:53
Speaker 5: say it was reversed. If it was the wife, I'd
28:56
Speaker 5: be like, Okay, maybe she wants that for financial like
29:00
Speaker 5: a safety blanket of security in case she needs to
29:02
Speaker 5: leave the relationship one day or whatever, which.
29:04
Speaker 2: She has every right. Every single woman in the entire
29:07
Speaker 2: world should have an emergency fund that sits separate from
29:10
Speaker 2: their partner.
29:11
Speaker 5: Totally, because I think like, historically, you know, women kind
29:14
Speaker 5: of are worse off in this situation where there's like
29:16
Speaker 5: a random, you know, a very sudden breakup or whatever.
29:18
Speaker 4: But that's not what's happening here.
29:20
Speaker 5: It does feel strange, especially because he's like I kind
29:24
Speaker 5: of want to buy a car.
29:24
Speaker 4: I'm like, oh, it feels like I want to say
29:26
Speaker 4: this because oh.
29:27
Speaker 2: Yeah, I want to put it in my super super investor.
29:30
Speaker 6: I want to save it, like dollars, Like, you're not
29:33
Speaker 6: buying a car for three hundred that's totally That's the
29:36
Speaker 6: point that I was making before, Like what car costs
29:38
Speaker 6: three hundred thousand dollars?
29:39
Speaker 2: Exactly? I could name a few I can't afford them.
29:44
Speaker 2: Is he finding on a Ferrari? You know what I mean?
29:47
Speaker 2: Like we're not talking like you know, the man's day
29:49
Speaker 2: x five. What are you gonna do with the Ferrari though?
29:50
Speaker 5: Like, really, it's still gonna take you from A to B.
29:54
Speaker 6: It's still going to take you to Woolling to do
29:55
Speaker 6: the same thing my carreo exactly, it's basically for.
29:59
Speaker 2: Us, I'm gonna drive it down Chapel Street to get
30:02
Speaker 2: a new girlfriend. Because you've decided you don't like your
30:05
Speaker 2: wife or your child. That's why you didn't spend any
30:07
Speaker 2: money on them.
30:07
Speaker 5: I mean, that's kind of what it's sounding like, right.
30:11
Speaker 6: An interesting little addendum is like, even if he doesn't
30:14
Speaker 6: choose to spend it on them, if he was to
30:16
Speaker 6: leave her, technically depending on like that's depending on the
30:20
Speaker 6: technicalities of their relationship, she's still entitled to it, so
30:23
Speaker 6: it can't even my assumption would.
30:25
Speaker 2: Be it is that depends on the structure. But yes,
30:27
Speaker 2: let's just pretend this is really clean for a second.
30:30
Speaker 6: Sure you're right, like she could still be in Yeah, sorry,
30:33
Speaker 6: it's a big word, but yeah, technically if he was going, oh,
30:36
Speaker 6: I don't want to give it to the family because
30:37
Speaker 6: I want it to be mine. I don't want anyone
30:39
Speaker 6: to have a chance of getting that money. I mean,
30:42
Speaker 6: technically that's not how it's gonna work.
30:43
Speaker 2: But also, why are you married to someone if that's
30:45
Speaker 2: the case. It's like at the moment. So side note,
30:49
Speaker 2: I don't know if I've told anybody, but I'm having
30:51
Speaker 2: a baby surprise congratulations, Yes, oh, thank you. This is
30:54
Speaker 2: a surprise to everybody. But I'm having lots of conversations
30:58
Speaker 2: in my DMS about Victoria. What are you doing about
31:01
Speaker 2: you know, maternity leave, and what are you doing about
31:04
Speaker 2: you know, your superannuation while you're not contributing to that,
31:07
Speaker 2: and obviously my plan is to continue to contribute to it.
31:10
Speaker 2: Don't worry, I'm there. But it's this conversation around if
31:15
Speaker 2: you and your partner, let's just pretend it's my circumstance.
31:17
Speaker 2: If my husband and I were both PAYG employees and
31:20
Speaker 2: I was stepping out of the workforce and my boss
31:23
Speaker 2: didn't pay my super while I was out, I would
31:26
Speaker 2: fully expect my husband to be contributing financially to my
31:30
Speaker 2: super so that I'm not behind. And the reason is
31:33
Speaker 2: not selfish. It's one there's a heap of tax benefits
31:36
Speaker 2: to contributing to my super while I'm on matt Leaf
31:39
Speaker 2: And you know that's quite sexy. But again, don't you
31:42
Speaker 2: want your family as a whole to be financially stable,
31:46
Speaker 2: Like the entire purpose of our marriage is not to
31:49
Speaker 2: get a divorce, Like people don't get married to get divorced,
31:52
Speaker 2: Like you get married when you've made this decision to
31:54
Speaker 2: spend your entire life together. So to me, it would
31:57
Speaker 2: be a red flag if my husband had turned around
31:59
Speaker 2: and said, well, actually, I don't really want to contribute
32:01
Speaker 2: to your stuper because what if you leave me one
32:02
Speaker 2: day and we're both equal ill So I think, to me,
32:06
Speaker 2: this reminds me of that where it's kind of like, well,
32:09
Speaker 2: our family has come into you know, this wealth, We've
32:13
Speaker 2: got this sum of money, and it could actually change
32:15
Speaker 2: our lives and you're going, I don't really want you
32:17
Speaker 2: to have it. That's a deeper red flag to me
32:20
Speaker 2: that goes, well, I don't know. The second I have something,
32:24
Speaker 2: I want to share it with my husband. I want
32:26
Speaker 2: him to be happy, I want him to be better off.
32:28
Speaker 2: The second I know he's having a bad date work,
32:30
Speaker 2: I'm like, well, what can I do to make sure
32:32
Speaker 2: that he's having a good day? The second he gets home, Like,
32:35
Speaker 2: is that not what other people I need? For kid
32:38
Speaker 2: as well?
32:38
Speaker 6: I think gets extra complicated because you have a child together, Like, surely.
32:41
Speaker 2: That is a massive financial responsibility.
32:44
Speaker 6: To be financial responsibility, but also like surely, as a couple,
32:47
Speaker 6: your ultimate goal is to put your child in a
32:50
Speaker 6: position where they are healthy, they are well looked after.
32:53
Speaker 6: You're setting them up financially for the future. And whether
32:56
Speaker 6: that looks like sending them to a more expensive school,
32:58
Speaker 6: or whether that looks like taking them traveling so they
33:01
Speaker 6: get a better world perspective, or whether that looks like
33:04
Speaker 6: putting it aside so they have a fund for when
33:06
Speaker 6: they ten eighteen if they want to go to university
33:09
Speaker 6: or whatever.
33:09
Speaker 2: That's paying for their education full stop. End of story,
33:12
Speaker 2: Like where's that coming from your quote share all your
33:15
Speaker 2: financial costs. Is it not taking a burden off your
33:18
Speaker 2: entire family to go all right, well, let's put x
33:21
Speaker 2: amount aside for this five year old's education. What other
33:25
Speaker 2: expenses are going to come up? Okay, well let's look
33:27
Speaker 2: at our mortgage. What does that look like should we
33:29
Speaker 2: be putting You know, at the end of the day,
33:31
Speaker 2: you might be saying, you know, I don't know, I'm
33:34
Speaker 2: just clutching at straws hoping that it's a better situation
33:36
Speaker 2: than it is. Maybe this person actually has analysis paralysis
33:39
Speaker 2: and doesn't want, you know, his wife making decisions on
33:42
Speaker 2: the money because he's not ready to make decisions on
33:44
Speaker 2: the money. In which case, can we just put it
33:46
Speaker 2: in an offset account and not make a decision about it,
33:49
Speaker 2: so at least it's offsetting our mortgage and the interest
33:52
Speaker 2: we're paying on that because interest rates at the moment
33:54
Speaker 2: are cooked, and then you can make a decision in
33:56
Speaker 2: twelve months once you feel more comfortable with it. Because
33:59
Speaker 2: at the end of the day, inheritance can make people uncomfortable.
34:02
Speaker 2: Is this like kind of a facade of like, oh,
34:04
Speaker 2: I don't want you to have it there because I
34:06
Speaker 2: want to keep it for me. But that's because they
34:08
Speaker 2: don't know what they want to do with it yet
34:10
Speaker 2: and don't want to waste it. Yeah, in a perfect world,
34:12
Speaker 2: that's what's going on.
34:13
Speaker 5: Sure, but like hypothetically, if that's I would say, obviously,
34:16
Speaker 5: like have a chat with your husband if that's not
34:18
Speaker 5: what's going on and he just doesn't want to spend
34:20
Speaker 5: it on you guys because he red flag. Pabby, that's
34:22
Speaker 5: a red flag, and maybe reconsider what you're doing.
34:25
Speaker 2: Yeah, Like I totally understand allocating some of it to
34:29
Speaker 2: you know, I don't know, maybe treat yourself exactly. So
34:33
Speaker 2: we don't know where this inheritance has come from. Let's
34:35
Speaker 2: pretend for a hot second it comes from his dad
34:37
Speaker 2: and they were both petrol heads. Maybe buying a car
34:40
Speaker 2: with that is something that is honoring his dad and
34:42
Speaker 2: makes him feel more connected. Fantastic, But let's have that
34:46
Speaker 2: conversation in a way that is constructive while not sacrificing
34:50
Speaker 2: the future wealth creation of your family. Yes, because right now,
34:53
Speaker 2: the opportunity is financial stability is sitting right in front
34:57
Speaker 2: of you, and you're choosing to not yes, engage with that,
35:01
Speaker 2: which makes me frustrated. Let's look at what we ask
35:05
Speaker 2: the community. So I asked the community, if your partner
35:07
Speaker 2: received this inheritance, would you expect them to share it
35:10
Speaker 2: with you? Seventy eight percent of you said yes, absolutely,
35:14
Speaker 2: twenty two percent of you said no, sure. If yes,
35:18
Speaker 2: what is your relationship status, So if you're expecting your
35:21
Speaker 2: partner to share this with you, thirty seven percent of
35:24
Speaker 2: you said we live together, thirty five percent of you
35:26
Speaker 2: said we're married, and twenty eight percent of you said
35:29
Speaker 2: we're married and have children together, which I'm surprised about
35:33
Speaker 2: because the highest amount of people expecting that to be
35:36
Speaker 2: shared is not married people with children. It's actually just
35:38
Speaker 2: people who live together. Yeah, so that construct, to me
35:41
Speaker 2: is not as deep as having a massive financial commitment
35:44
Speaker 2: like a child. The next, do you think it's selfish
35:48
Speaker 2: for your husband to spend all this money on himself?
35:52
Speaker 2: Twenty one percent of you said no, he's allowed to
35:55
Speaker 2: buy himself a car and whatever else he wants. Okay,
35:58
Speaker 2: seventy nine percent said yes absolutely, one hundred percent should
36:02
Speaker 2: share this with his family, which I don't think we
36:04
Speaker 2: are surprised by. Yeah, and those stats line up with
36:08
Speaker 2: the stats that we got prior. And then we said,
36:11
Speaker 2: what's your two cents. And this is always my favorite
36:14
Speaker 2: part because people are savage because they know I'm never
36:17
Speaker 2: going to out them, like I will never out you
36:19
Speaker 2: if you have dmd US. In response to one of
36:23
Speaker 2: our spicy questions, that's not on, you're safe here, someone
36:26
Speaker 2: said hundred percent divorce. Someone said divorce, divorce, divorce. Someone
36:31
Speaker 2: said you can buy yourself something nice with inheritance and
36:34
Speaker 2: still share a lot of that with your family. Someone
36:37
Speaker 2: else said, sure, go buy yourself in your car if
36:39
Speaker 2: you want, but if they share all other finances, it
36:42
Speaker 2: seems very odd that he's planning to keep it all.
36:46
Speaker 2: Someone said there must be a reason why he won't share.
36:49
Speaker 2: Is there an underlying issue? We're not provy too. Yeah,
36:52
Speaker 2: that's kind of my question too. Someone said how gd route.
36:57
Speaker 2: He has a child and a wife, but he wants
36:59
Speaker 2: to keep three hundred k to himself. Why and then
37:02
Speaker 2: there's three red flag emojis?
37:04
Speaker 4: Yeah.
37:05
Speaker 2: Someone else said he should be able to make a
37:07
Speaker 2: big purchase like a car, but needs to use the
37:09
Speaker 2: rest to support his family. Someone else said, not fair
37:13
Speaker 2: to share all other finances except for this. You set
37:16
Speaker 2: an expectation that you need to stick to. Someone said, actually,
37:21
Speaker 2: I just inherited two hundred thousand dollars. I have a partner,
37:24
Speaker 2: but we don't have children. I plan on investing the
37:27
Speaker 2: whole amount for myself. Okay, but that's wealth creation. Yeah yeah, yeah,
37:32
Speaker 2: totally so I kind of see that as Obviously, this
37:36
Speaker 2: goes back to honoring the money that comes into your
37:39
Speaker 2: hands when it is significant, and like, to me, significant
37:42
Speaker 2: is anything above a dollar, Like we're not talking about
37:45
Speaker 2: you know, you have to have hundreds of thousands of
37:47
Speaker 2: dollars in an inheritance to honor it. In fact, I
37:50
Speaker 2: feel like it can be quite freeing to people to
37:53
Speaker 2: realize what an inheritance actually means, because often we can
37:57
Speaker 2: feel overwhelmed or guilty about receiving so much wealth. Like
38:02
Speaker 2: if you've never come into that money and one day
38:04
Speaker 2: I said, hey, Beck, he's a million dollars because someone
38:06
Speaker 2: very close to you has passed away yesterday, you might
38:09
Speaker 2: go I don't deserve this, I don't want this, Like
38:12
Speaker 2: this is overwhelming. I've never dealt with this amount of
38:14
Speaker 2: money in my life. But we really need to reframe
38:18
Speaker 2: it and go, this is that person looking after you
38:21
Speaker 2: when they can't be there in person. How do we
38:25
Speaker 2: make sure that you're in the best possible position. So
38:27
Speaker 2: I'm not mad if someone says I'm actually going to
38:30
Speaker 2: invest the full amount, because if you stay with your partner,
38:34
Speaker 2: that ultimately is going to support them into retirement as well,
38:38
Speaker 2: whether it's in your name or their name. Like, I
38:40
Speaker 2: don't think it necessarily has to be split, especially when
38:43
Speaker 2: it is an inheritance. In fact, I often used to
38:46
Speaker 2: push to put inheritances. Obviously this is not financial advice,
38:50
Speaker 2: but into a trust so that it could be protected
38:53
Speaker 2: for you because that person who passed away that sent
38:55
Speaker 2: it to you, they wanted back to have it. They
38:57
Speaker 2: didn't want, you know, somebody else to split it and
39:00
Speaker 2: it to be dispersed. But that's if everything goes south.
39:04
Speaker 2: In the interim. You're creating family wealth, you have joint assets,
39:08
Speaker 2: and it's you know, working towards a secure financial future.
39:12
Speaker 2: Saying well, I don't want to share with you, beck,
39:13
Speaker 2: I actually want to buy a car feels like a
39:16
Speaker 2: different story. Yeah, I'll do two or three more because
39:19
Speaker 2: I just find this so spicy. Someone said, I just
39:21
Speaker 2: don't understand why I wouldn't want to share with his people.
39:24
Speaker 2: Aren't they he's loved once?
39:26
Speaker 6: Yeah?
39:26
Speaker 4: True?
39:27
Speaker 2: Someone said he can buy himself a car and still
39:29
Speaker 2: be able to put money aside for his family. Why
39:31
Speaker 2: isn't he phrasing it that way?
39:33
Speaker 6: That's my thought, Like you said, honor the money. I
39:37
Speaker 6: don't think you should necessarily have to give everything away.
39:40
Speaker 6: But it is crazy to me that it's not even
39:42
Speaker 6: a conversation that's been tabled from what we've been told.
39:45
Speaker 2: Yeah, and last one I'm going to read out, which
39:48
Speaker 2: I think is you know, I think on the same
39:50
Speaker 2: page as everyone at this table is I think it
39:52
Speaker 2: really comes back to the mindset of actually being a
39:55
Speaker 2: team and a partner in finances. This doesn't feel like
39:58
Speaker 2: he's being a team player. Yeah, that's so accurate, And
40:01
Speaker 2: I feel like that just hits in a nail on
40:02
Speaker 2: the head right now. The person who's written into us
40:05
Speaker 2: is going, I don't feel like my partner's being a
40:06
Speaker 2: team player, like we're a family. This doesn't feel like
40:10
Speaker 2: something a family would do, And I feel like that's
40:12
Speaker 2: really reasonable. To be honest, my advice is go to therapy. Yeah. Yeah,
40:17
Speaker 2: Like it's a bit savage, but at the end of
40:19
Speaker 2: the day, I think there are definitely deeper seated issues
40:23
Speaker 2: in this and talking it out between the two of you.
40:27
Speaker 2: I don't think is a good idea. You need a
40:29
Speaker 2: you know, non biased third party to sit and go well, Beck,
40:32
Speaker 2: why do you feel that way about Victoria? Like, you know,
40:35
Speaker 2: don't you have financial commitments and vice versa, because we
40:38
Speaker 2: don't know a lot of this circumstance. Let's be honest,
40:42
Speaker 2: we are missing so much context, and I feel like
40:44
Speaker 2: every time we have these DMS, I'm always like context, context, context.
40:48
Speaker 2: But imagine if the context that we're missing is she's
40:52
Speaker 2: from a multi millionaire family and has already inherited lots
40:56
Speaker 2: of money prior to meeting him. She's super financially stable,
41:00
Speaker 2: never has to work a day in her life. He
41:02
Speaker 2: is working and comes into three hundred grand and goes
41:05
Speaker 2: she doesn't need it. We can afford all our bills,
41:07
Speaker 2: we can afford everything. I want to spend this on me? Yeah?
41:10
Speaker 2: At which point would that change your answers around the table? Absolutely? So, yeah,
41:15
Speaker 2: exactly So. We might be missing a lot of context,
41:17
Speaker 2: but we've tried as hard as we can to be
41:20
Speaker 2: fair and reable with what you gave us.
41:23
Speaker 4: Absolutely, there you go.
41:24
Speaker 2: Which I think is a very good place to leave it,
41:26
Speaker 2: to be honest, because we could just keep making up
41:28
Speaker 2: scenarios that make no sense and see what we think
41:31
Speaker 2: about those two. But I think that is all we
41:33
Speaker 2: have time for this week. Guys, it has been a pleasure.
41:36
Speaker 2: I'm so glad the band is back together. We'll see
41:40
Speaker 2: you right in early on Monday for a money diary.
41:42
Speaker 2: Till then, have the best weekend ever. We love you,
41:44
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