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Mixing Friendship & Money · She's On The Money

0:00
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
0:04
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
0:14
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. She's on the Money. She's on
0:37
Speaker 2: the Money. Hello and welcome. She's on the Money, the
1:01
Speaker 2: podcast for millennials who want financial freedom. Today, my friends,
1:04
Speaker 2: it is Friday again, which means it is time to
1:06
Speaker 2: get my little team together and celebrate you our incredible
1:10
Speaker 2: She's on the Money community Today is just Grich is
1:13
Speaker 2: going to be sharing our favorite money wins from the community.
1:16
Speaker 2: Miss beck say Ede, She's got a few broke tips
1:19
Speaker 2: of her sleeve that she's gonna share. We're going to
1:21
Speaker 2: be helping to answer a juicy money dilemma, which this
1:23
Speaker 2: week is all about why you should invest, and we're
1:27
Speaker 2: going to unpack something that you slim into our DMS
1:29
Speaker 2: about this week. We're talking about owing money to your friends.
1:33
Speaker 2: So before we get there, I want to know how
1:36
Speaker 2: your weeks have been. Misterscricci. We threw you straight under
1:40
Speaker 2: the bus last Friday because you had your wisdom teeth out.
1:43
Speaker 3: I know I missed your guys.
1:44
Speaker 2: Are you better? How did it go?
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Speaker 3: I'm good. Doctor Chris was very kind, very good to me,
1:50
Speaker 3: because I think we've said before on the show, I'm
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Speaker 3: a little baby when it comes to going to the dentist.
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Speaker 2: So it was just a baby.
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Speaker 3: I'm just a baby. I was very afraid, but he
1:56
Speaker 3: was so good and so it went better than I expected,
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Speaker 3: which was lovely. He gave me.
2:00
Speaker 2: I'm not surprised.
2:01
Speaker 3: Lots and lots and lots of nubbing, but lots of
2:04
Speaker 3: did you go home just drooling pretty much? I had
2:07
Speaker 3: my partner come get me because I was worried or
2:09
Speaker 3: he like drove me there and took me home because
2:10
Speaker 3: I was worried that I would be like a little bit,
2:12
Speaker 3: a little bit stressy, a little bit out of it.
2:14
Speaker 3: And so I was sitting there and I just they
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Speaker 3: gave me gauze to like staunch the blood or whatever,
2:19
Speaker 3: and so I was just like dropping bloody gauze and
2:24
Speaker 3: because I was so like out of it in the moment,
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Speaker 3: I forgot. And obviously when we got home, I just
2:27
Speaker 3: like got out of the car and went to bed,
2:29
Speaker 3: and then he drove his friend. His friend went to
2:32
Speaker 3: the gym that night, and he drove his friend and
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Speaker 3: he was like, did you did you maybe leave something
2:36
Speaker 3: in my car? And I was like in bed, like
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Speaker 3: like he sat and nearly sat on a pile of
2:43
Speaker 3: just bloody dishuices.
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Speaker 4: Yeah, his friend would have been like, did you kill literally?
2:49
Speaker 3: So what happened to you?
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Speaker 2: Been doing?
2:52
Speaker 3: But you're recovering well, feeling really good? Chatty Kathy back
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Speaker 3: and ready to go.
2:57
Speaker 2: I love to see big perfect miss excited. How has
3:01
Speaker 2: your week been. It's been a roller coaster. I've gotta
3:04
Speaker 2: be honest. Why roller coaster?
3:06
Speaker 4: Well, okay, so as everyone knows, I've been mo redone
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Speaker 4: and blah blah blah, like seven years ago.
3:09
Speaker 2: But anyway, it was like not even seven weeks ago,
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Speaker 2: but okay.
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Speaker 4: And as also as everyone knows, I'm not the best
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Speaker 4: of money, and I kind of just like had a bad,
3:19
Speaker 4: a really bad day the other day where I was like,
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Speaker 4: oh my god, I have no money and I was
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Speaker 4: kind of like, you know, I was stuck in Southierra
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Speaker 4: because I couldn't afford petrol to get home, and it
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Speaker 4: was a whole thing. But anyway I want I wouldn't
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Speaker 4: like trauma dump on it.
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Speaker 2: No trauma dumb, because I feel like lots of people
3:31
Speaker 2: are gonna go relatable.
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Speaker 4: Okay, good, I would hope. So that's the only reason
3:35
Speaker 4: I'm kind of saying. It's like, oh, I'm sure there's
3:37
Speaker 4: someone out there that's kind of been in this position,
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Speaker 4: and but my mom helped me out, and like, you know,
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Speaker 4: it was all good. I was like, oh my god,
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Speaker 4: I'm thirty thirty one and I'm calling my mom.
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Speaker 2: Crying and I'm I don't know what to do. But
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Speaker 2: it's all been up from there.
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Speaker 4: And I've just had a really good week just with friends,
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Speaker 4: just doing like really cute, wholesome things and just doing
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Speaker 4: things that like don't cost any money and that you know,
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Speaker 4: it's it's been. It's actually been really nice, trying to
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Speaker 4: find waste have fun without spending anything.
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Speaker 3: Did you see the Southern Lights? I feel like that
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Speaker 3: would have been right up your alley over again, so
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Speaker 3: up my alley, jest.
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Speaker 4: But I didn't realize it was happening until after it
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Speaker 4: happened me either.
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Speaker 2: No one called me, and then all my friends text me,
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Speaker 2: Oh my god, look at this picture I took. And
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Speaker 2: I was like, I'm so jealous.
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Speaker 4: Yeah, but the good thing is I don't think you
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Speaker 4: could have seen it with your human eye.
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Speaker 3: Yeah, it was like James ragensy could see like a
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Speaker 3: little tinge of color, but you couldn't see anything like
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Speaker 3: how you could in photos.
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Speaker 2: So we were on the peninsula. I didn't I was there,
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Speaker 2: I could have had the opportunity to do so. But
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Speaker 2: my parents saw it and said it was beautiful and
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Speaker 2: really really cool because that's something that my mum had
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Speaker 2: always wanted to see, so that was really cool. I'm
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Speaker 2: glad she got to see that. But then also my
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Speaker 2: best friend lives in Tasmania and she sent me I'll
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Speaker 2: show you after the coolest photo of the sky and
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Speaker 2: I was like, that can't be real, and she was
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Speaker 2: like yeah, over Hobart like they were out near the airport.
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Speaker 2: Apparently it was elite and very very visible. But again,
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Speaker 2: there's not a lot of light pollution in Tasmania, so
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Speaker 2: you know, you guys live quite close to the city,
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Speaker 2: so I'm not surprised we couldn't see it.
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Speaker 3: It was as good. Yeah, oh that's so cool. We're
5:11
Speaker 3: all just gonna have to go to Iceland and see
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Speaker 3: the norm.
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Speaker 2: Alright, absolutely rude, not too so let's do that.
5:19
Speaker 3: I'm showing.
5:20
Speaker 2: Oh thanks, you see really good. I have my very
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Speaker 2: first Mother's Day, honestly, very exciting, but also kind of
5:29
Speaker 2: weird because I don't identify with being a mother yet. Yes,
5:33
Speaker 2: like I am, but I also feel like a teenage parent,
5:37
Speaker 2: Like I'm thirty two and I've heard my first teenage
5:39
Speaker 2: pregnancy and I'm not equipped for this. So when people
5:43
Speaker 2: were like, happy Mother's Day, I was like a baby,
5:49
Speaker 2: just a baby myself. Yeah, So that was really fun.
5:52
Speaker 2: Got to spend it with my mom. We went out
5:53
Speaker 2: for some all you can eat Japanese which was amazing.
5:57
Speaker 2: Get this, Jess Beceruy knows because Becky, we've both been
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Speaker 2: to this place. Thirty nine dollars or you can eat
6:04
Speaker 2: thirty nine money money mean, I would take you next time.
6:08
Speaker 2: Unlimited tempure vegetables. Oh it's really good food, delicious amazing.
6:13
Speaker 2: All right, let's get into the show because I'm really excited.
6:16
Speaker 2: I have been trolling through the Facebook group this week,
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Speaker 2: just like reading all of the comments, so I can
6:21
Speaker 2: basically bet that I've already heard all of the money
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Speaker 2: wins this week. But I regret nothing. So jess, what
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Speaker 2: have you pulled out for us?
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Speaker 3: All right? This week? Firstly, I have one from Tory
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Speaker 3: who said a great name, excellent name. I needed a
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Speaker 3: new puffy jacket and I wanted a Patagonia jacket, but
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Speaker 3: it was three hundred dollars. She found it on sale
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Speaker 3: for fifty percent off this weekend.
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Speaker 2: Oh that's your god of money.
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Speaker 3: Wine brand new for one hundred and fifty dollars and
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Speaker 3: Patagonia is an awesome We've spoken about them before like
6:45
Speaker 3: they're morals a body. Yeah, great quality and like a
6:48
Speaker 3: company with really great ethics, which is awesome. Next, I've
6:51
Speaker 3: got a money win from Gabby who said win, I've
6:53
Speaker 3: saved six hundred dollars that I was quoted for a
6:56
Speaker 3: bond clean by just doing it ourselves. Had a huge
6:59
Speaker 3: day of grubbing, but we got there.
7:01
Speaker 2: I feel like you've got a few trip nails from that,
7:03
Speaker 2: But that would be worth it. I think bond cleans
7:06
Speaker 2: are so bloody expensive.
7:08
Speaker 3: And little pro tip. I got into an argument. I've
7:12
Speaker 3: ever done this before. I've made a comment on an
7:13
Speaker 3: Instagram post.
7:14
Speaker 2: And I was like, well, you're getting in an argument
7:17
Speaker 2: happens regularly on an Instagram post. No, that's usually me
7:20
Speaker 2: just like sends me screenshots of my own comments and
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Speaker 2: says delete this right now. And I'm like, fine, fine.
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Speaker 3: Yeah, I'm not one to have a little argument on
7:28
Speaker 3: the internet. But I commented because someone was talking. It
7:30
Speaker 3: was someone talking about like a similar thing, rental clean,
7:33
Speaker 3: and I said, oh, at least in Victoria, did you
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Speaker 3: know that they actually can't legally force you to have
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Speaker 3: a professional clean done.
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Speaker 2: Some the kboard warrior decided to correct and I was,
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Speaker 2: let you know that you were wrong, that, like Jess
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Speaker 2: is never wrong. But I could just know this as
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Speaker 2: a fact, Jess never wrong. It's really nice.
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Speaker 3: I wish I could relate to people who were but
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Speaker 3: I simply can't.
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Speaker 4: I don't think i've ever no, I don't think i've
7:55
Speaker 4: ever experienced no.
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Speaker 3: No, I definitely haven'ten But yeah, it was I anyway,
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Speaker 3: that isn't either. He was just a little and an.
8:02
Speaker 3: But if you're in Victoria, did you know they can't
8:04
Speaker 3: force you to pay because they often try to. They
8:06
Speaker 3: put it in like your lease agreement. That's actually not enforceable.
8:09
Speaker 3: It's illegal.
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Speaker 4: But I want to know how this conversation, like what
8:13
Speaker 4: did the person say?
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Speaker 3: So they I replied to them and said, oh, it's
8:17
Speaker 3: actually not you can't do that. It's not legal, like
8:19
Speaker 3: it's on the Tenants Fick website if you want to
8:21
Speaker 3: check it. Don't know about other states, but for Victoria specifically,
8:23
Speaker 3: that's not nice. All I'm talking about, Yeah, exactly right.
8:26
Speaker 3: And then they came back and said something. I can
8:28
Speaker 3: get to see what they said, because when I went
8:29
Speaker 3: to it, the comment was actually gone.
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Speaker 2: So that is them recognizing that Jess is always right.
8:37
Speaker 2: As they were embarrassed, they put their tail between their legs,
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Speaker 2: and they went home.
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Speaker 3: Well good as they should. Hopefully that's a money win
8:44
Speaker 3: for anyone in Victoria. You don't have to You can
8:46
Speaker 3: do a perfectly good job cleaning it.
8:47
Speaker 2: Yourself, unless you're really a boad at cleaning, in which
8:49
Speaker 2: case maybe get a cleaner.
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Speaker 3: Yes, yeah, next moving or a long next money when
8:53
Speaker 3: I've got is from April, who said long term money win.
8:57
Speaker 3: I made a three thousand dollars lump sum repayment on
8:59
Speaker 3: our home loan. She did the most must be nice,
9:02
Speaker 3: it must be very nice. But that three thousand dollars
9:04
Speaker 3: equals eleven thousand, eight hundred and ninety one dollars that
9:08
Speaker 3: they've saved in interest. It's that cool, very very cool.
9:11
Speaker 2: Do the maths because you'll feel much better about making
9:13
Speaker 2: those payments.
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Speaker 3: Yeah, and she said it's going to make her really
9:16
Speaker 3: rethink they're spending first, saving and stuff, which I thought
9:18
Speaker 3: was just like a cool thing to like have a
9:20
Speaker 3: play around with and super motivating. Yeah, exactly right. Next,
9:23
Speaker 3: I've got a money in from Nicole who said I
9:26
Speaker 3: was going to have to pay four point five thousand
9:28
Speaker 3: dollars to get my daughter assessed for autism. I did
9:32
Speaker 3: not know it was that expense. WHOA, that is crazy.
9:36
Speaker 2: He's anything neurospicy.
9:38
Speaker 3: Yes, so expensive.
9:41
Speaker 2: HD. Like I was saying this to my mum the
9:44
Speaker 2: other day. I'm like, I'm so glad you guys had
9:45
Speaker 2: to pay for my diagnosis when I was a teenager
9:47
Speaker 2: because I couldn't afford it.
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Speaker 3: Now I want to do it now.
9:49
Speaker 2: No, absolutely, not absolutely not.
9:51
Speaker 3: But money in for Nicole. She said she found out
9:54
Speaker 3: that the school can actually assist for a much more
9:57
Speaker 3: affordable price because they have a psychologist on their stuff.
10:00
Speaker 2: Oh money, we very cool and great if you had
10:02
Speaker 2: good to know and to ask the school to get involved.
10:05
Speaker 2: If you're going through that with a kid, I would
10:07
Speaker 2: have thought of that.
10:07
Speaker 3: Yeah, I know that's perfect, really lucky for the col
10:10
Speaker 3: Orful that people have to pay that, I'm so sorry. Lastly,
10:12
Speaker 3: I have a moneyman from Kristen who said I had
10:15
Speaker 3: to clean out old stuff from my old bedroom at home.
10:18
Speaker 3: In doing soon, I found two hundred and forty dollars
10:20
Speaker 3: and a winning crosswords scratchy tucked away an old birthday card.
10:24
Speaker 2: Oh my money, money, it's nice just having two hundred
10:27
Speaker 2: and forty bucks accidentally in your room. Again, can't relate, No,
10:31
Speaker 2: I don't think I've found five bucks or ten dollars. Actually,
10:34
Speaker 2: one time I lucked out and found like fifty dollars
10:37
Speaker 2: in a coat pocket, my own coat pocket, so it
10:39
Speaker 2: was technically in my own money, but it would have
10:41
Speaker 2: been cooler if it was like from the shop or something.
10:44
Speaker 3: Yeah. I love reading those stories, like what have you
10:46
Speaker 3: found in something? You got to the shop, like someone
10:48
Speaker 3: bought a box and they opened it and there was
10:49
Speaker 3: a bunch of cash.
10:50
Speaker 2: Or yeah, seriously, I've gotten onto the side of TikTok
10:53
Speaker 2: where people are buying things secondhand and realizing they're haunted.
10:56
Speaker 2: So maybe different, but I'm trying the same. No interesting though,
11:00
Speaker 2: people buying stuff and then being like, ah, yeah, so
11:03
Speaker 2: I bought this doll and I'm like looking at the
11:05
Speaker 2: video being like, how did you not know the doll
11:07
Speaker 2: was haunted? Like it haunted? But I love those kinds
11:12
Speaker 2: of stories. Anyway, moving on, Beck, I want your brocust
11:16
Speaker 2: of broke tips. What have you got?
11:19
Speaker 1: So?
11:19
Speaker 2: Oh, she's ready, She's.
11:22
Speaker 4: Got it, I've got it up, I'm ready. This again
11:25
Speaker 4: won't be as rogue as some of my.
11:29
Speaker 2: Exactly exactly, snaughty laughing. We have to stop recording. I
11:33
Speaker 2: don't want it, Okay, well I can.
11:38
Speaker 4: I was speaking to an old friend of mine and
11:40
Speaker 4: realizing how wild a lot of the old things I
11:43
Speaker 4: did was, And this is not what I'm doing today.
11:46
Speaker 4: Those just same Beck, different day, exactly exactly. But those
11:53
Speaker 4: will come, those stories a right, okay. First one comes
11:57
Speaker 4: from Emma, who says, honestly, go to cost for free,
12:00
Speaker 4: samples around meal time.
12:02
Speaker 2: That is such a good idea. Genius. They always do
12:05
Speaker 2: like they're sliced pizza or the dips and stuff. What
12:09
Speaker 2: if you just do lots of laps and just like
12:11
Speaker 2: have a whole entire pizza. Yeah, exactly, No, I reckon
12:15
Speaker 2: they cut you off. I don't think.
12:16
Speaker 4: So we put a little hat on, put a fake mustache.
12:19
Speaker 4: They would never know that you're the same person. I think.
12:22
Speaker 2: Yeah, that's true.
12:23
Speaker 3: See so many people, surely they wouldn't even notice.
12:26
Speaker 2: Totally. We love Costco in this team. In fact, we
12:29
Speaker 2: were literally in New Orleans and brook who's on our team.
12:34
Speaker 2: You've probably met brook You would have met Brooks. She's
12:36
Speaker 2: been on the podcast before. Yes, So she's obsessed with
12:39
Speaker 2: Costco and every country she goes to she has to
12:41
Speaker 2: go to a Costco there just to check it out.
12:43
Speaker 2: That's such a funny obsition. Was an actual activity for
12:47
Speaker 2: all of us, or we just went to Costco like
12:50
Speaker 2: that was an afternoon activity, like it was like on
12:52
Speaker 2: the iterial. I guess it was on the itinerary. We
12:53
Speaker 2: went to Costco. Turns out they're all the same. We
12:56
Speaker 2: learned nothing and then Brooke got a pizza. You did too, Jess.
12:59
Speaker 3: It was delicious, so good.
13:02
Speaker 2: But it was the same as the Costco pizza. You
13:04
Speaker 2: could have got what you want. But I'm sitting there
13:06
Speaker 2: being like this same.
13:08
Speaker 3: Yeah as someone as a pickie eater, I appreciate knowing
13:11
Speaker 3: that no matter what country, I mean, Costco pizza tastes
13:14
Speaker 3: the same.
13:14
Speaker 2: You're also a very big fan of McDonald's.
13:16
Speaker 3: Exactly that, exactly exact reason.
13:18
Speaker 2: Yeah, I get that. I like get that, all right, Beck,
13:20
Speaker 2: What else have you got on their table for us? Okay?
13:22
Speaker 4: Also should say free samples anywhere, Like you know, you
13:24
Speaker 4: go to butchers and sometimes they have all which I
13:27
Speaker 4: know be very feeling, but you know you got to do.
13:30
Speaker 2: We gotta do sometimes. Okay.
13:31
Speaker 4: This next one comes from Laura, who says cultural broke tip.
13:35
Speaker 4: If there is a ticketed exhibition, say art design film,
13:39
Speaker 4: you want to attend, wait until the last two weeks.
13:42
Speaker 4: They usually sell fifty to seventy ish percent off tickets,
13:45
Speaker 4: mainly big galleries like NNGV ACME. I feel like ACME
13:49
Speaker 4: might be free or I don't know, mate, you're telling
13:53
Speaker 4: this story not me.
13:54
Speaker 2: That's true.
13:54
Speaker 1: I don't know what.
13:57
Speaker 3: I should have. Sorry, what we're gonna say, just I
13:59
Speaker 3: think they occasionally do like special exhibits that you might
14:02
Speaker 3: pay for, but like a lot of it is free.
14:03
Speaker 3: Oh okay, MGV is the same. There are parts I
14:06
Speaker 3: actually not sure.
14:07
Speaker 2: Yeah, sometimes MGV is free as well.
14:09
Speaker 4: Actually, but that's just good to know if that if
14:11
Speaker 4: it is an exhibition that you want to go to,
14:13
Speaker 4: but they are actually charging for that. So these you know,
14:16
Speaker 4: obviously again in Melbourne. I know that some of the
14:19
Speaker 4: community members are not in Melbourne, but if you are
14:22
Speaker 4: going on.
14:23
Speaker 2: In your local area anyway, totally that could be like global.
14:27
Speaker 3: Yeah, and there's some great apps and stuff that do
14:29
Speaker 3: last minute tickets for shows, like I use last ticks.
14:32
Speaker 3: I'm trying to win forty five they do like the lottery.
14:34
Speaker 3: I'm trying to get the forty five dollars wikied tickets.
14:37
Speaker 3: But they like it's like the end of the run
14:39
Speaker 3: of a show. They'll usually yeah, because they they'll like
14:41
Speaker 3: I guess a lot of people obviously, like every Wednesday
14:44
Speaker 3: they go you can enter to like be able to
14:46
Speaker 3: buy these like seven you're.
14:49
Speaker 2: Always on to something. She actually is, She's just ridiculous.
14:55
Speaker 2: You're always on. One of our girls at Zella Money
14:59
Speaker 2: actually a kind of vibe. She's in New Zealand this
15:02
Speaker 2: week for a holiday with her family, and I remember
15:05
Speaker 2: I was in New Zealand a little while ago and
15:07
Speaker 2: they have you remember how I was obsessed with that
15:09
Speaker 2: first table app? Oh yeah, yeah, So I was like,
15:12
Speaker 2: you can get on first table because they actually, like
15:15
Speaker 2: lots of the restaurants in New Zealand are on first table,
15:19
Speaker 2: which is if you haven't heard of it. Back you
15:21
Speaker 2: get the app and the first table of the night,
15:23
Speaker 2: like the bookings are like at five pm. She has kids,
15:25
Speaker 2: so this works really well. You get fifty percent off
15:28
Speaker 2: for being first in the door off your bill money.
15:31
Speaker 2: We are okay, which kind of all comes out in
15:34
Speaker 2: the wash.
15:34
Speaker 3: When you're home in nine drink.
15:38
Speaker 1: Guys.
15:38
Speaker 2: Yeah, I did that on the weekend when I did
15:41
Speaker 2: my thirty nine dollar all you can eat Japanese with
15:44
Speaker 2: my family. We took my parents and my sister and
15:47
Speaker 2: my husband and Harvey came and it was really good.
15:50
Speaker 2: It turns out Harvey he's not that into Japanese yet,
15:52
Speaker 2: but that's all. We'll work on that. Yeah, we had
15:55
Speaker 2: a five thirty booking, so excited. We were back home
15:58
Speaker 2: by like seven thirty eight. I was like this, guys,
16:01
Speaker 2: this is living. Yeah, no, I agree with that. Peak
16:03
Speaker 2: motherhood yeah pee no, no, just pick living. Yeah, I
16:07
Speaker 2: agree with that. What's your broke tip though?
16:09
Speaker 4: Okay, so this one my best friend live actually told
16:12
Speaker 4: me about this, which is like.
16:13
Speaker 2: Some people lives broke tip. Sometimes you gotta do what
16:17
Speaker 2: you gotta do. Yeah, that's that's broke away.
16:19
Speaker 4: I do have a few in the bank though, but
16:21
Speaker 4: I thought, you know, I'm going to spread them out,
16:23
Speaker 4: So lives one is if you work in an office
16:25
Speaker 4: environment or if you just like have like a trilliant housemates.
16:28
Speaker 4: You know, obviously like loyalty cards are really good to
16:30
Speaker 4: keep on hand. This might be a little bit dodgy,
16:32
Speaker 4: but what we do is you get everyone's coffee order,
16:35
Speaker 4: You get everyone to pay you for the coffee order,
16:37
Speaker 4: and then you get the and then you get the
16:39
Speaker 4: free one. So you've paid nothing at all, do you
16:42
Speaker 4: know what I mean? Like, you get the free you
16:44
Speaker 4: put you deserve that.
16:45
Speaker 2: That's not even payment for doing coffee, So no one
16:49
Speaker 2: had to pay. They just allowed you to have the
16:51
Speaker 2: free one. Exactly. So yeah, exactly. And if they want
16:54
Speaker 2: to tick off their loyalty thing, they can go get
16:56
Speaker 2: their own coffee and take it off in their own time. Yes,
16:59
Speaker 2: exactly right.
17:00
Speaker 4: So I feel like that's like I never thought to
17:02
Speaker 4: do that, but I'm going to start doing that for sure,
17:03
Speaker 4: like when I get a job.
17:05
Speaker 2: Speaking of stuff that you can do at work, this
17:07
Speaker 2: is probably not legal in any other organization except for
17:10
Speaker 2: my own. Jess has her shot pack for work purchases.
17:15
Speaker 2: Oh yeah, so I'm funding the purchase, she's getting the
17:17
Speaker 2: cash back. Don't you know what I feel? It all's
17:21
Speaker 2: fair in love and more. She I know she does
17:24
Speaker 2: it if I really with permission, but like maybe ask
17:27
Speaker 2: your boss. Like if you're an AA or you're, you know,
17:30
Speaker 2: doing lots of transactions, you could literally be like, hey,
17:33
Speaker 2: can I just add my shop back to this? Why
17:36
Speaker 2: would they say no?
17:37
Speaker 4: Or your rewards card if you're doing like all these
17:39
Speaker 4: purchases for whatever.
17:41
Speaker 2: But don't just do it like first, ask first, because
17:45
Speaker 2: otherwise I think it could be constituted as fraud, and
17:48
Speaker 2: we don't endorse.
17:50
Speaker 4: Fraud, no, not publicly exactly.
17:54
Speaker 2: Jess is like, yeah, yeah, really really quickly.
17:59
Speaker 4: I'm going to Japan next week and I just want
18:00
Speaker 4: to say that I got really cheap tickets from the app.
18:03
Speaker 2: Hold on hold on Japan? Did you know that she
18:05
Speaker 2: was going to Japan? Did we know that she wasn't
18:07
Speaker 2: going to be on the podcast?
18:09
Speaker 4: Oh, let's tell everyone actually said I had no money,
18:12
Speaker 4: but you gotta do what you gotta do sometimes.
18:14
Speaker 2: All right, Jess and I yes, will man the desk.
18:18
Speaker 4: Thank you, so we've got you, Thank you. I just
18:20
Speaker 4: wanted to put that out there. I know the pilot
18:22
Speaker 4: app is really really good for very cheap tickets.
18:24
Speaker 3: I've hearsed that before.
18:26
Speaker 2: Six hundred dollars return.
18:27
Speaker 3: Oh my god, that's so cheap.
18:29
Speaker 2: How do you learn about that app?
18:31
Speaker 3: Did you get check luggage? You need to be wearing all.
18:34
Speaker 2: I'm going to be wearing everything. Just think that's the
18:37
Speaker 2: funniest thing that's ever ever ever happened. Think it. Sorry, Sam,
18:48
Speaker 2: If you edit out that's snort, you're done. You're done.
18:51
Speaker 2: That stays. The snort stays.
18:53
Speaker 3: Did you get check blaggage?
18:55
Speaker 2: I didn't. Why is no one? No one's concerned? Oh
19:03
Speaker 2: my god. All right, guys, you know what, we know
19:07
Speaker 2: what she's gonna do. Let's go to a break because
19:10
Speaker 2: on the flip side, we're going to be talking about
19:12
Speaker 2: why you should invest, and we're going to be unpacking
19:14
Speaker 2: something you slid into our dams about This week, we're
19:16
Speaker 2: talking about owing money to your friends, so guys, don't
19:20
Speaker 2: go anywhere.
19:28
Speaker 3: Welcome back, everybody. Let's take a listen to this week's
19:30
Speaker 3: money dilemma.
19:33
Speaker 2: Hi, there, have you got a money dilemma you just
19:36
Speaker 2: can't solve that She's on the Money Team is here
19:38
Speaker 2: to help. Every week we tackle your dilemmas, both big
19:42
Speaker 2: and small, to answer your most burning money, career and
19:44
Speaker 2: life questions. To get involved, simply head to our website
19:48
Speaker 2: and leave us a short voice recording and you might
19:50
Speaker 2: just find yourself on the show. Now, let's take a
19:52
Speaker 2: listen to this week's money dilemma.
19:55
Speaker 5: Hi, Fees on the Money Team. My question is why
19:59
Speaker 5: should I I be investing rather than putting money into
20:04
Speaker 5: my super account. I know that there's lots of chat
20:07
Speaker 5: about micro investing and other platforms like chareseas, but I'm
20:12
Speaker 5: a bit confused why that's beneficial over salary sacrificing and
20:17
Speaker 5: putting money in my super with all of the tax benefits,
20:20
Speaker 5: and it seems like a much safer option.
20:23
Speaker 2: What do you guys reckon before I take over? Because
20:26
Speaker 2: that's all I do.
20:28
Speaker 4: I would only say that, like with super you can
20:31
Speaker 4: get it after your sixty five would unless, like you know,
20:34
Speaker 4: special circumstances. But so that's like, if you're investing, you
20:39
Speaker 4: don't have to wait as long. Like forgive me if
20:42
Speaker 4: I'm completely incorrect, but that's what my my thinking is.
20:46
Speaker 3: Yeah, you're right, totally right. You can't access your super
20:49
Speaker 3: unless you're putting in for like the first home super
20:50
Speaker 3: save a scheme or something like that, you generally can't
20:53
Speaker 3: access until you're sixty five, whereas your investments you can
20:56
Speaker 3: liquidate them at any point. Right, all circumstance is allowing,
21:00
Speaker 3: Like obviously it takes some time to process the tax,
21:03
Speaker 3: like you tax benefits you have to take into account,
21:05
Speaker 3: like it's something worth thinking, but they're not going to
21:08
Speaker 3: be applicable to everyone. And I think a lot of
21:10
Speaker 3: the time she mentioned our listener mentioned micro investing specifically,
21:15
Speaker 3: I think a lot of the time, if people are
21:17
Speaker 3: investing small amounts, we want you to be investing those
21:20
Speaker 3: small amounts because they do grow into large amounts. But
21:23
Speaker 3: the tax benefits that you may see from that may
21:25
Speaker 3: not be quite so significant from my perspective, So you've
21:28
Speaker 3: got to kind of weigh up what the tax benefit
21:31
Speaker 3: is versus what you're doing. I mean, I think it's
21:34
Speaker 3: it really is up to you personally. Like some people
21:36
Speaker 3: do prefer to invest in a super, you don't have
21:38
Speaker 3: as much control. I think, like you can't pick your
21:40
Speaker 3: individual shares generally speaking, like you can't choose a platform
21:45
Speaker 3: that's really user friendly. I think you just have more
21:48
Speaker 3: control when you invest for yourself, which is what I like.
21:50
Speaker 3: But that's not to say that investing in super is
21:52
Speaker 3: a bad option at all. It just is to use
21:56
Speaker 3: Victoria's favorite phrase, different horses for different courses. Where did
21:59
Speaker 3: you even get that from? I don't know, but I
22:01
Speaker 3: think it's so funny. So I use every chance that
22:02
Speaker 3: I can courses.
22:04
Speaker 2: I also like to say, not my circus, not my monkeys.
22:08
Speaker 2: And I also like to say play stupid games, get
22:10
Speaker 2: super prices.
22:11
Speaker 4: Yeah, Peach, sorry, I don't want to talk about Peach
22:15
Speaker 4: close Taylor Swift.
22:18
Speaker 3: What's the thing.
22:20
Speaker 2: Each to their?
22:20
Speaker 4: Peach Sorry is what I try to say, and I
22:22
Speaker 4: just sort up Peach.
22:24
Speaker 2: I like that.
22:24
Speaker 3: I like that.
22:25
Speaker 2: It definitely sounds like something Jess would say.
22:27
Speaker 3: Yeah, very cutesy.
22:28
Speaker 2: It's very cutesy.
22:29
Speaker 3: Lust you actually knows that they're talking about.
22:31
Speaker 2: Perhaps all right, So first things first, should I be
22:33
Speaker 2: investing rather than putting my money in my super account?
22:36
Speaker 2: You are investing in both. So the one thing I
22:39
Speaker 2: want you to understand about supranuation, or the one thing
22:41
Speaker 2: I want you to take from this segment of the
22:44
Speaker 2: podcast today, is that supranuation is not an investment. Supranuation
22:48
Speaker 2: is a tax structure in which you invest under and
22:52
Speaker 2: that tax structure exists to put you in a better
22:55
Speaker 2: position for retirement because the government wants to support us
22:58
Speaker 2: so that they don't have to pay many pensions. Makes sense, right,
23:02
Speaker 2: But something that our listener said that I really wanted
23:05
Speaker 2: to like stamp out really quickly is she said, I
23:08
Speaker 2: know it's safer inside Super, and that is not true
23:12
Speaker 2: at all, because if you're investing inside of Super or
23:16
Speaker 2: outside of Super, the risk is exactly the same. The
23:19
Speaker 2: tax structure of superannuation doesn't add any more security or
23:22
Speaker 2: take any away because if you're investing inside Super and
23:26
Speaker 2: you've got you know, some ETFs and a managed fund,
23:29
Speaker 2: if you had that outside of Super, it's not more
23:31
Speaker 2: or less secure. It's just a different type of asset. Right,
23:35
Speaker 2: So I think it's important to understand that SUPER is
23:37
Speaker 2: a tax structure that exists to put us in a
23:40
Speaker 2: better financial position. You're right beg about being able to
23:44
Speaker 2: access it after sixty five, and Jess, you are absolutely
23:47
Speaker 2: correct about the control. So I like investing outside of
23:51
Speaker 2: SUPER because I'll be able to access it before I
23:54
Speaker 2: turn sixty five. And I want to be able to
23:56
Speaker 2: access my money before then because I want to retire
23:58
Speaker 2: before then, because old A is a privilege that is
24:01
Speaker 2: denied to many people, and they don't want to wait
24:02
Speaker 2: until I'm like sixty five or sixty seven or even
24:05
Speaker 2: seventy before I get access to my cash holder.
24:08
Speaker 3: Right.
24:08
Speaker 2: But if we're talking about the tax benefits only, there
24:12
Speaker 2: are a lot of tax benefits to putting your money
24:14
Speaker 2: inside SUPER, And these numbers that I'm going to spit
24:16
Speaker 2: at you are relevant for the First Home Super Savior Scheme,
24:19
Speaker 2: which is a mouthful but also a really important thing
24:22
Speaker 2: to take into consideration if you're saving for your first home,
24:25
Speaker 2: because at this current point in time, you can contribute
24:29
Speaker 2: up to fifty thousand dollars into the First Home Super
24:32
Speaker 2: Savior Scheme, which at a marginal tax rate of thirty
24:35
Speaker 2: two and a half percent, will mean, you are nine
24:37
Speaker 2: and a half thousand dollars better off by using that scheme.
24:42
Speaker 2: So that's nine and a half thousand dollars of what
24:45
Speaker 2: I would say is free money, and we love free
24:47
Speaker 2: money in this house, right, So what we are going
24:50
Speaker 2: to do is a quick example. So let's say we
24:52
Speaker 2: have ten thousand dollars of cash pre tax. You've just
24:56
Speaker 2: earned it, beck and you're trying to decide whether it
24:59
Speaker 2: goes into super or whether it goes into your investment
25:02
Speaker 2: portfolio or your savings or just keeping in your bank account. Right,
25:05
Speaker 2: So ten grand pre tax, if you put that into
25:09
Speaker 2: your bank account and you're on a marginal tax rate
25:12
Speaker 2: of thirty two and a half percent, which is you
25:14
Speaker 2: earn between forty five thousand and one hundred and twenty
25:17
Speaker 2: thousand ish dollars, that's you know, I think what most
25:20
Speaker 2: of the population would fall into. That ten thousand dollars
25:24
Speaker 2: post tax becomes six thousand, seven one hundred and fifty dollars,
25:28
Speaker 2: So that's what goes into your bank account, and then
25:30
Speaker 2: the rest goes to tax. If that amount of money
25:33
Speaker 2: went into your supranuation instead of your personal bank account,
25:37
Speaker 2: instead of being charged thirty two and a half percent
25:40
Speaker 2: in tax, you would get the supranuation tax rate, which
25:45
Speaker 2: is only fifteen percent, and that money would then be
25:48
Speaker 2: worth eight thousand, five hundred, So it's worth more than
25:51
Speaker 2: that six thousand, seven hundred and fifty dollars, which is
25:55
Speaker 2: a difference of twenty one percent. So to be a
25:58
Speaker 2: difference of twenty one percent, that's basically like an instant
26:00
Speaker 2: return on your money right just by choosing the superannuation environment.
26:04
Speaker 2: But does that mean that we should be investing all
26:06
Speaker 2: our money in super because obviously you're making more. Absolutely not,
26:10
Speaker 2: because it's locked away, and so we need to kind
26:13
Speaker 2: of make this balance of how much is going to
26:16
Speaker 2: be in SUPER for when I do retire versus how
26:19
Speaker 2: much is going to help me achieve my goals today?
26:22
Speaker 2: How much is going to help me, you know, be
26:24
Speaker 2: in the best possible financial position. Do I want to
26:26
Speaker 2: invest outside of super so that I can achieve financial
26:29
Speaker 2: freedom earlier? It's a fine balance between what you're doing
26:33
Speaker 2: inside and outside of SUPER. If you asked me personally, Victoria,
26:38
Speaker 2: do you add additional money to your super so that
26:41
Speaker 2: you know you can make the most of that At
26:42
Speaker 2: this point in my life, No, because I really want
26:46
Speaker 2: financial freedom before I retire some point when I'm a
26:49
Speaker 2: little bit more, you know cash they could, and you
26:51
Speaker 2: know my businesses are able to pay me a bit more,
26:54
Speaker 2: I will put more money into SUPER. But right now
26:57
Speaker 2: my goal is actually my mortgage and paying for Harvey's
27:02
Speaker 2: future education and all of those things that are important
27:05
Speaker 2: to my husband and I. So just because on paper
27:08
Speaker 2: it's twenty one percent better, that doesn't mean that that
27:12
Speaker 2: works for me. So I think the important thing here
27:15
Speaker 2: is really understanding that, No, it doesn't necessarily mean that
27:20
Speaker 2: SUPER safer. SUPER feels safer because we like structure, and
27:24
Speaker 2: superannuation is forced upon us, so you have to have
27:26
Speaker 2: it back, and because it's always been there, you assume
27:28
Speaker 2: it's a safe option. But that doesn't mean that investing
27:31
Speaker 2: outside of SUPER is unsafe. You just have to make
27:33
Speaker 2: a decision that's in line with your risk profile. So
27:36
Speaker 2: for me, the safety thing, I just wanted to stamp
27:39
Speaker 2: that out really quickly. Is it better to put it
27:41
Speaker 2: in SUPER? The answer is very unclear because I don't
27:44
Speaker 2: know your personal circumstances. But what I need you to
27:47
Speaker 2: understand is that tax environment can be beneficial, but it's
27:52
Speaker 2: not as accessible, and that's where I go, well, what's
27:55
Speaker 2: going to work for you? Right now? You're able to
27:58
Speaker 2: contribute up to twenty seven thousand, five hundred dollars each
28:01
Speaker 2: financial year to your superannuation and get that fifteen percent
28:05
Speaker 2: tax rate above and beyond that you go back to
28:08
Speaker 2: your marginal tax rate. So it's completely up to you
28:11
Speaker 2: what you do. But if you're thinking about the first
28:15
Speaker 2: time super savior scheme, great scheme, great scheme, nine and
28:18
Speaker 2: a half thousand dollars better off if you were to
28:21
Speaker 2: think about using that over a five year period. That's
28:25
Speaker 2: my rant on supranuation. Thank you for coming to my
28:27
Speaker 2: Ted Talk solid advice. Yeah, that's great. Oh thanks thanks.
28:31
Speaker 2: That's all I've got though, So let's move on. We
28:34
Speaker 2: had a DM this week. Are you guys ready to
28:37
Speaker 2: unpack it? Very good? All right, Hi, she's on the money.
28:40
Speaker 2: I have a money dilemma. My Bessie really wanted me
28:43
Speaker 2: to come on a holiday with her to Bali. She
28:46
Speaker 2: was trying to convince me for a full month. I
28:49
Speaker 2: told her I would love to, but probably couldn't because
28:52
Speaker 2: I didn't have the cash. No problem. If you're beck though,
28:54
Speaker 2: Hey true little jabb going to Japan. Yeah, no, you're
29:02
Speaker 2: so right, I won't no judgment. I love you and
29:05
Speaker 2: all of the decisions do you make. Thank you so much,
29:08
Speaker 2: she said. In response, she said she was more than
29:10
Speaker 2: happy to loan me the money if it meant that
29:12
Speaker 2: they could go on the holiday together, which is really nice.
29:15
Speaker 2: We have been friends for years, so I didn't think
29:17
Speaker 2: that this was weird. I took her up on it,
29:19
Speaker 2: telling her I would need about three months post trip
29:21
Speaker 2: to pay her back, and she was really okay with that.
29:24
Speaker 2: She paid three thousand dollars for me and we had
29:27
Speaker 2: the best time. But we've been home for a couple
29:30
Speaker 2: of weeks and she's told me that she needs the
29:32
Speaker 2: money now. She's spontaneously decided to move out of home.
29:35
Speaker 2: Post getting home, she saw someone post on Instagram with
29:38
Speaker 2: a free room up for rent for a few months
29:41
Speaker 2: and took them up on it really quickly. I literally
29:43
Speaker 2: can't pay her now or I wouldn't be able to
29:45
Speaker 2: pay my rent and buy food. What do I say
29:47
Speaker 2: to her? We agreed to three months, but it is
29:50
Speaker 2: her money, and if she wants it now, do I
29:52
Speaker 2: have to cough it up as help? Okay?
29:55
Speaker 4: So I find myself in this situation a lot actually
29:58
Speaker 4: going to Japan. My rent actually offered me money to go,
30:01
Speaker 4: and that's one of the reasons why I am able to.
30:06
Speaker 2: It's really funny. It's very well timed. It's really Yeah,
30:10
Speaker 2: it's not a plan, it's just very well timed. I
30:12
Speaker 2: just think it's so funny. Yeah, this is so because
30:15
Speaker 2: I didn't say anything to you guys before. No, no,
30:17
Speaker 2: we had no idea.
30:18
Speaker 4: So I guess the thing is, I have borrowed money
30:21
Speaker 4: from friends before. I always pay it back when I
30:23
Speaker 4: say I will. I guess like your friend, unfortunately, has
30:28
Speaker 4: gone back on what she said. You have an agreement.
30:31
Speaker 4: It's kind of like the same as like say you're
30:32
Speaker 4: borrowing from a bank or whatever, Like you have X
30:35
Speaker 4: amount of time to pay it back. When you agreed
30:37
Speaker 4: to this, you didn't have the anxiety and stress and
30:40
Speaker 4: pressure of having to pay immediately as soon as you
30:43
Speaker 4: got back, and so that's why you agreed to do it.
30:45
Speaker 4: That's why you went and had a great time. I
30:47
Speaker 4: understand that it's her money and she is like, you know,
30:49
Speaker 4: she's owed that money and she will get that money back.
30:52
Speaker 2: But if I.
30:52
Speaker 4: Feel like if this person knew that they would have
30:55
Speaker 4: to pay it immediately, as soon as they got back,
30:58
Speaker 4: or like within the first few weeks, they would have
31:00
Speaker 4: definitely said no, they actually can't ford this. If you
31:03
Speaker 4: have all the information available to you and you agree
31:06
Speaker 4: to do it, but then you just can't make it happen,
31:09
Speaker 4: that's the story for another time. But this is like
31:12
Speaker 4: you had all the information given to you, you thought
31:15
Speaker 4: you had X amount of time to pay back, and
31:16
Speaker 4: now your friends kind of come back and be like, no,
31:19
Speaker 4: I need it now, which is completely unfair to you.
31:21
Speaker 2: I feel like your friend is in the wrong here.
31:23
Speaker 2: Obviously it is their money.
31:24
Speaker 4: They do need their money back eventually, but if you
31:27
Speaker 4: had that information, you probably wouldn't have gone.
31:28
Speaker 2: I think if your friend had said, yeah, you'll have
31:30
Speaker 2: to pay me back when you get back, you would
31:31
Speaker 2: have been like, well, I just can't go then. Thanks though,
31:34
Speaker 2: and they should be aware of that, right, Like you
31:36
Speaker 2: literally were being convinced for a month to take them
31:39
Speaker 2: up on this offer, right, Like, I feel like it
31:42
Speaker 2: is kind of unfair. Just what are your thoughts?
31:44
Speaker 3: I completely agree, Like, I think the changing last minute,
31:47
Speaker 3: especially over something that's not necessary, like if the friend
31:49
Speaker 3: had had a medical emergency and I'm like, well I
31:52
Speaker 3: have to pay for a surgery. I could be a
31:54
Speaker 3: bit more understanding, but she's making a choice. It seems
31:57
Speaker 3: to me that perhaps she wasn't in the position to
31:59
Speaker 3: lend the money. And I have a perspective on this
32:03
Speaker 3: that is said with lots of love and care, but
32:06
Speaker 3: I think across the board, perhaps we're not all managing
32:09
Speaker 3: our money in the most responsible way in this scenario.
32:12
Speaker 3: I think that if you're going to lend somebody money,
32:15
Speaker 3: you should be able to function without it for a
32:17
Speaker 3: significant period of time, unless it's a super emergency. Again,
32:21
Speaker 3: if you've got a friend in trouble and you can
32:22
Speaker 3: help them by all means. But I think like in
32:25
Speaker 3: this case, if she was going to pay for a
32:27
Speaker 3: holiday for someone, which is obviously a luxury, she probably
32:30
Speaker 3: should have ideally been in a bit more of a
32:32
Speaker 3: financially stable position where she wouldn't have to go back
32:36
Speaker 3: on her word and ask for it sooner. On the
32:39
Speaker 3: flip side, I also think that if you can't afford
32:42
Speaker 3: to pay for a holiday, I don't know that it's
32:45
Speaker 3: the best or most responsible choice to go.
32:48
Speaker 2: I'm really sorry.
32:49
Speaker 3: I feel incredibly bad saying this year after you've just
32:52
Speaker 3: been so excited.
32:53
Speaker 2: Sorry, sometimes it needs to hear the truth. And we
32:58
Speaker 2: love Beck, but like, I don't think it's going to
33:01
Speaker 2: come as a surprise that if she said, V, do
33:03
Speaker 2: you think this is a good idea? Beck, I will
33:05
Speaker 2: outwardly say Beck, I think it's a terrible idea. But
33:08
Speaker 2: I also know that Beck just does whatever she wants,
33:12
Speaker 2: like no, but I'm not the boss of you, and
33:14
Speaker 2: my opinion is worth literally nothing like it.
33:18
Speaker 3: It's my opinion.
33:19
Speaker 2: You could put it in the bin, you could take it,
33:20
Speaker 2: you can do whatever you want with it. You haven't
33:22
Speaker 2: asked me if it's a good idea, and it's not
33:25
Speaker 2: my place to say so. Or is this money diarist
33:28
Speaker 2: or this you know member of our community is like, V,
33:30
Speaker 2: what are you doing? In that case, I'll give you
33:32
Speaker 2: my opinion, But like, you're in a position, Beck, where
33:35
Speaker 2: you know you've got all the resources. You've already said, look,
33:38
Speaker 2: I probably know I shouldn't, but you're in a position
33:40
Speaker 2: where you feel comfortable to do that. You're probably really
33:43
Speaker 2: comfy with a friend who's making this decision with you,
33:45
Speaker 2: and like Yollo, like, yeah, you know it's kind of
33:49
Speaker 2: like you know, Jess, I don't know the ins and
33:51
Speaker 2: outs of your relationship and it's not you don't know everything.
33:54
Speaker 2: You can't judge someone for the decisions they're making. I mean,
33:57
Speaker 2: I wouldn't get on the podcast and be like, do
33:59
Speaker 2: what Beck do? Like no, but really it's in Beck's
34:03
Speaker 2: best interests because she's probably weighed up the pros and cons.
34:06
Speaker 2: As you said, I know who it is like, and
34:08
Speaker 2: I know you two have a very close relationship and
34:10
Speaker 2: it's not going to go south. Yeah, So it's fine.
34:13
Speaker 3: Yeah, but it's.
34:14
Speaker 2: Different for everybody, and you can't just give the blanket
34:16
Speaker 2: advice that what Beck's up to is absolutely fine, because
34:19
Speaker 2: look what's happened to this member of our community. Her
34:22
Speaker 2: friends come back and changed the dynamics, and that's a
34:26
Speaker 2: really tricky position to be in.
34:28
Speaker 3: And that's why I kind of feel like hindsight is
34:30
Speaker 3: twenty twenty and like, obviously it's all well and good
34:32
Speaker 3: for me to say, oh, like you probably shouldn't have
34:33
Speaker 3: gone on the trip if you couldn't afford her, but like,
34:35
Speaker 3: the trip is done and she had a great time,
34:37
Speaker 3: and that's awesome. So I guess from here my advice
34:40
Speaker 3: would be that you you I feel like I say
34:43
Speaker 3: this every time, but you really need to tell your
34:44
Speaker 3: friend what you told us, like, yeah, it's I completely
34:46
Speaker 3: agree with what you were saying, Beck that it's it's
34:48
Speaker 3: very unreasonable of her friend to shift the goalposts. And
34:52
Speaker 3: I think that if there is any wiggle room for
34:55
Speaker 3: you to expedite the repayments, try to do that, but
34:58
Speaker 3: not obviously at the sacri or the cost of being
35:01
Speaker 3: able to feed yourself, being able to pay your rent, Like,
35:04
Speaker 3: those things have to come first. Your physical safety and
35:06
Speaker 3: health has to come first. And I guess the other
35:10
Speaker 3: thing that i'd mention is reviewing your discretionary spending because
35:14
Speaker 3: the fact that you went on this holiday when you
35:15
Speaker 3: maybe couldn't quite afford it says to me that maybe
35:18
Speaker 3: we're being a little flexy with our budget what we're
35:21
Speaker 3: choosing to spend on, which is fine normally that's totally
35:24
Speaker 3: your call, but I think that we've kind of had
35:27
Speaker 3: the flip side of this as a question or a
35:30
Speaker 3: dilemma before. You know, if you've said to your friend, hey,
35:33
Speaker 3: I really can't pay you back yet, we've got this
35:35
Speaker 3: agreed timeline. Can I do it over the three months?
35:38
Speaker 3: And that's reasonable because that's what you agreed to. But
35:41
Speaker 3: if she then saw you going on a weekend away
35:44
Speaker 3: or blowing all your money on new shoes or something.
35:48
Speaker 3: Then I can understand how the friend would also feel
35:51
Speaker 3: a little bit put out. So I think, like just
35:54
Speaker 3: making sure that on both sides we're doing everything we
35:57
Speaker 3: can to be fair and reasonable your prior urtizing that
36:00
Speaker 3: debt repayment. It is so annoying that that timeline that
36:04
Speaker 3: she's trying to change it. And I completely empathize with
36:07
Speaker 3: you because that's not what you discussed. You did the
36:09
Speaker 3: right thing and you put a timeframe on upfront, which
36:11
Speaker 3: was a great call. Very well done from you. That
36:14
Speaker 3: was so smart. But you know, doing everything you can
36:16
Speaker 3: to pay her back as quickly as possible where possible.
36:19
Speaker 2: I find that it's so hard because I mean flipping
36:22
Speaker 2: the tables only because it seems really relevant at the moment.
36:25
Speaker 2: I'm assuming Beck, if you thought that that would happen
36:28
Speaker 2: to you and the second you got back you'd o
36:30
Speaker 2: the money, you probably would have said no to Japan,
36:32
Speaker 2: right totally. Yeah, that's true. Whereas right now you're like, oh,
36:35
Speaker 2: I feel really comfortable and you trust the person to,
36:38
Speaker 2: you know, work with the terms that you've set up
36:40
Speaker 2: between the two of you. Yes, So Beck's not worried
36:43
Speaker 2: about that. You'd feel pretty muckdover if you got back
36:47
Speaker 2: in your friend was like, oh, Beck, you have to
36:48
Speaker 2: pay me this week. You'd be like, well, I can't.
36:50
Speaker 2: Like that's a stressful position I wouldn't have accepted in
36:53
Speaker 2: the first place. So I feel like, yeah, maybe just
36:56
Speaker 2: going to your friend. Hey, I really like this is
36:59
Speaker 2: why we agreed to the because I genuinely couldn't.
37:01
Speaker 3: Like that's what's doable.
37:02
Speaker 2: Yeah, and maybe try and work with them as well
37:04
Speaker 2: and be like, is there anything I can help you
37:06
Speaker 2: with in the short term, Like, you know, maybe I
37:08
Speaker 2: could do two payments instead of one, but like that's
37:11
Speaker 2: probably it. So I think just negotiating with them. But
37:14
Speaker 2: when it comes to lending money to friends, I do it.
37:18
Speaker 2: At the end of the day, I feel like we're
37:20
Speaker 2: in a cost of living crisis, and I feel very
37:22
Speaker 2: privileged that if my friends are stuck in a hard place,
37:25
Speaker 2: they are comfortable enough to share that with me, and
37:28
Speaker 2: I am in the very privileged position to be able
37:31
Speaker 2: to help. And I love that I'm that type of
37:33
Speaker 2: person that like I just feel like, I don't know,
37:35
Speaker 2: I really like that I can be that person for
37:37
Speaker 2: my family and for my friends, right, But I always
37:41
Speaker 2: lend money with the idea in my head that I
37:45
Speaker 2: will either lose the money or lose a friend, and
37:47
Speaker 2: I have to be happy with one of those outcomes. Yeah,
37:50
Speaker 2: I don't want to lose my friend. I'd prefer to
37:52
Speaker 2: lose the money, and like, it's on me if I
37:54
Speaker 2: lend it and it doesn't come back. But if you're
37:56
Speaker 2: not comfortable with either losing the money or losing a friend,
37:59
Speaker 2: you shouldn't be ending money out. Yeah, like, because it's
38:01
Speaker 2: one or the other that you will lose if you're
38:04
Speaker 2: not happy with that. So I'm not saying that you
38:06
Speaker 2: will lose your money and you will lose your friend.
38:07
Speaker 3: Yes, nothing happy.
38:09
Speaker 2: Ideally, nothing happens. You know, they're a friend like Beck
38:12
Speaker 2: who pays it back, you know, as soon as they can,
38:14
Speaker 2: and we don't even talk about it ever again. But
38:17
Speaker 2: I think that you have to really go well, if
38:19
Speaker 2: I'm willing to do this, I also have to be
38:22
Speaker 2: willing to lose one of those things, because I don't
38:25
Speaker 2: want to lose my friends. I'd much prefer to lose
38:26
Speaker 2: you know, the five hundred bucks, I'd lent them. But
38:28
Speaker 2: I think you need to kind of put yourself in
38:30
Speaker 2: that position, and if you're not willing to lose that cash,
38:33
Speaker 2: you actually can't lend it out. Yeah, and that would
38:35
Speaker 2: be a okay. Well, maybe we plan a holiday for
38:37
Speaker 2: in twelve months, because a lot of the time these
38:40
Speaker 2: things are yes, you can't go right now. Well why
38:43
Speaker 2: can't we plan it for in the future. You don't
38:45
Speaker 2: necessarily have to miss out completely. But yeah, I think
38:49
Speaker 2: it's an interesting perspective. We did ask the community and
38:52
Speaker 2: we said, would you ever borrow money off a friend
38:55
Speaker 2: for a holiday, and nine percent of you said yes,
38:58
Speaker 2: I would trust my friends, so it's fine. Ninety one
39:01
Speaker 2: percent of you said no, things could get too messy.
39:04
Speaker 2: We also asked you, do you think this person needs
39:06
Speaker 2: to pay back the money right now? And eight percent
39:09
Speaker 2: of you said yes, only eight percent of you, So
39:12
Speaker 2: I think everybody else is sitting on our side of
39:14
Speaker 2: the table where we're like, well, that's so unfair to
39:16
Speaker 2: change the goalposts, because ninety two percent of you said no,
39:20
Speaker 2: they'd agreed on three months time. You need to stick
39:22
Speaker 2: to it. We then asked, do you think it's okay
39:25
Speaker 2: for the friend to change their agreement and ask for
39:27
Speaker 2: the money back. Ninety three percent of you said no,
39:30
Speaker 2: shouldn't have offered it if she didn't mean it, and
39:33
Speaker 2: then obviously seven percent of you said yes, so money,
39:36
Speaker 2: she can ask for it back whenever she wants, which no,
39:40
Speaker 2: you can't.
39:40
Speaker 3: I feel like it's not such a simple thing where
39:42
Speaker 3: you're going, oh, like I said, you could borrow my sweater,
39:45
Speaker 3: but actually I want to wear a sweater like it's
39:48
Speaker 3: to me, it's a much bigger thing. And you're lending
39:51
Speaker 3: the money knowing that your friend is in a tight
39:53
Speaker 3: spot financially, like you're offering to help them out of
39:56
Speaker 3: that spot, which is very kind and very well meaning,
39:58
Speaker 3: but the amount of stress that you're then on them
40:00
Speaker 3: by going ha ha, just kidding. I need it back
40:02
Speaker 3: because I want to move out into this free room.
40:05
Speaker 3: Like as much as it sucks, I feel like the
40:07
Speaker 3: responsible thing from them would be to do would be
40:08
Speaker 3: to pass up the opportunity let your friend payback on
40:11
Speaker 3: the agreed timeline.
40:12
Speaker 2: And no, agreed, I agree. We did ask for your
40:15
Speaker 2: two cents as always, and you won't be surprised at
40:18
Speaker 2: some of these responses. So someone said, I would never
40:21
Speaker 2: demand money from my friends if it meant that they
40:23
Speaker 2: were going without their basic survival needs, which I think
40:26
Speaker 2: is fair. Someone said, I really wonder if they would
40:28
Speaker 2: have the same feeling if it was a medical emergency,
40:31
Speaker 2: which you brought up before. Someone else said, she can
40:34
Speaker 2: ask her to pay the money back, but if it's
40:36
Speaker 2: not there to be paid back, then tough.
40:38
Speaker 3: What are you to do? Where you can I pull
40:40
Speaker 3: it from? Doesn't grow on trees?
40:42
Speaker 2: Well, someone else said, and I think this is interesting
40:44
Speaker 2: because this is I guess, in the spirit of open,
40:46
Speaker 2: honest conversations around money. She said she's more than welcome
40:49
Speaker 2: to ask if she can pay it back early. Maybe
40:52
Speaker 2: her friend came into some cash and she wasn't aware,
40:54
Speaker 2: but she did agree on the three months, which needs
40:57
Speaker 2: to be adhered to if necessary. So like, I think
41:01
Speaker 2: it's actually fair if her friend turned around and you know,
41:03
Speaker 2: now talking this out, I suppose you know, if I
41:08
Speaker 2: borrowed some money from you, Jess, and then Jess, you
41:10
Speaker 2: were like, oh, V do you reckon you could pay
41:11
Speaker 2: it back early? And I went, oh no, sorry, Jess.
41:13
Speaker 2: You might go, oh, no, worries. I just thought I'd
41:16
Speaker 2: check because that would have been helpful. Maybe we are
41:18
Speaker 2: just overthinking this and thinking it's a mean thing, or like,
41:21
Speaker 2: you know, her friend's putting it back on her. Have
41:24
Speaker 2: you had that conversation to be like, oh, look, I
41:26
Speaker 2: really would love to be able to give you that
41:27
Speaker 2: cash holder back, but I just don't have it to
41:29
Speaker 2: give you right now. Maybe it's as simple as a conversation. Yeah,
41:33
Speaker 2: and having open, ongoing conversation about money. Someone else said,
41:37
Speaker 2: never lend anything you can't do without friends. Should have
41:40
Speaker 2: considered pre trip and moving out before giving it away.
41:44
Speaker 2: Someone said she shouldn't have offered to pay for it
41:46
Speaker 2: if she didn't have an emergency fund. Oh, we love
41:49
Speaker 2: an emergency fund in this house. Someone said, never go
41:54
Speaker 2: into debt for a holiday. Sorry, girl, but you do
41:56
Speaker 2: have to pay up asap.
41:58
Speaker 4: Asap could still mean three months. Yeah, I feel like
42:01
Speaker 4: as soon as you can.
42:03
Speaker 2: Yes, I mean I feel like that one's double ended.
42:05
Speaker 3: Right.
42:06
Speaker 2: Never go into debt for a holiday I would agree
42:08
Speaker 2: with if you can not do it, but then sorry, girl,
42:11
Speaker 2: got to pay up. No, I don't agree with that.
42:14
Speaker 2: And then there are a whole heap of responses that
42:16
Speaker 2: are very similar to what we've said. So I won't
42:18
Speaker 2: bore you with that, but I think that's all we
42:20
Speaker 2: have time for guys, really going on and on, especially
42:24
Speaker 2: when I had that rant about superannuation. So I just
42:26
Speaker 2: need you to understand that it's a tax structure, not
42:29
Speaker 2: an investment, and investing inside and outside of super it
42:32
Speaker 2: carries the same risk because they're often exactly.
42:34
Speaker 5: The same thing.
42:36
Speaker 2: It's really passionate, passionate because they just want you doing best. Yeah, understood,
42:41
Speaker 2: All right, Well, I hope you have a really good
42:43
Speaker 2: weekend guys, and we will see you bright and early
42:46
Speaker 2: on Monday for our money diary, so it can't wait.
42:50
Speaker 2: Be good bye, guys.
42:51
Speaker 3: Bye.
42:58
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43:01
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43:05
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