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FRIDAY DRINKS: Free Degree But Not Free For All · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud your
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
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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 through.
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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and
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Speaker 1: the storytelling of you to make a difference for today
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Speaker 1: and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
0:34
Speaker 3: She's on the Money, She's on the Money.
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Speaker 2: Hello and welcome to She's on the Money, the podcast
1:00
Speaker 2: for millennials who want financial freedom. Today is Friday, my Friends,
1:05
Speaker 2: which means it is time to sit back with the
1:06
Speaker 2: girls and a bev in hand, to unpack our favorite
1:09
Speaker 2: moments of the week and of course, to celebrate you
1:12
Speaker 2: how incredible She's on the Money community. As always, we're
1:15
Speaker 2: going to be sharing our favorite money wins, We're going
1:17
Speaker 2: to discuss what's making news in the finance world, and
1:20
Speaker 2: this week we're going to be helping to answer do
1:21
Speaker 2: you see money question about property with a partner, so
1:25
Speaker 2: stick around for that. But first it is time, as
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Speaker 2: always to recap the week that was. Miss Jessic Gariachi
1:31
Speaker 2: tell us what happened on our Monday's Money Dary episode.
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Speaker 4: This week's Diris was someone who self proclaimed herself as
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Speaker 4: an elder millennial.
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Speaker 5: I'm not calling her old.
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Speaker 2: That's what she said themselves, an elder millennial, Like just
1:42
Speaker 2: don't it, you're a millennial, yea to stop end her story.
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Speaker 4: We're the old people on TikTok and that's okay.
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Speaker 2: We know our place. It's to be pests.
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Speaker 4: She grew up with a lot of stress in her
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Speaker 4: life when it came to money. You know, she said
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Speaker 4: she made poor career choices or choices she wasn't happy
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Speaker 4: with her parents and grandparents made choices that you know,
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Speaker 4: maybe didn't put them in the best possible position. And
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Speaker 4: her whole life she kind of had this understanding of
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Speaker 4: that's just how it was like you kind of you
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Speaker 4: get by and that's.
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Speaker 5: As good as it gets.
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Speaker 4: But in the last five or six years, she has
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Speaker 4: moved countries seven times. She's lived seven was wild. Yeah,
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Speaker 4: she's lived all over the world. She's been making decisions
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Speaker 4: that really aim at furthering her career, increasing her income,
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Speaker 4: setting herself up financially. She had six figures now, and
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Speaker 4: she said that she wanted to share her story for
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Speaker 4: anyone who you know, was in a similar position to
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Speaker 4: her when she was growing up, and to tell them
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Speaker 4: that you can change your money, so you can change
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Speaker 4: your journey and you can set yourself up for success,
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Speaker 4: which I thought was awesome because absolutely there's, you know,
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Speaker 4: a level of privilege in everyone's life, and the circumstances
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Speaker 4: that your adult are a challenge, and some people adult
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Speaker 4: are better hand than others. But it was very inspirational
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Speaker 4: to hear her say, oh my gosh, like it was
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Speaker 4: really tough, and I was surrounded by people who were
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Speaker 4: making decisions that maybe weren't the best. But I worked
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Speaker 4: really hard and I educated myself and I'm where on
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Speaker 4: changing that for me, going for it.
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Speaker 6: I feel like that would be a really good episode
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Speaker 6: to listen to for people, people who might even be
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Speaker 6: afraid of listening to our podcast, who might think money
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Speaker 6: is a really anxiety inducing topic. To know that you
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Speaker 6: can change your circumstance. Absolutely, you can put the work in,
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Speaker 6: it's not going to happen overnight, but over the long
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Speaker 6: term you can really make changes.
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Speaker 2: So I think it's really empowering. I mean, not to
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Speaker 2: take it this way, because obviously that's really impactful, but Jess,
3:27
Speaker 2: as you know, I have been watching The Real Housewives
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Speaker 2: of Beverly Hills recently, which is solid content for those
3:32
Speaker 2: of you playing along at home. The drama. It wouldn't
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Speaker 2: fly in twenty twenty two. There is no way that
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Speaker 2: stuff would make it to air without them being completely canceled,
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Speaker 2: which is why I'm totally here for it. But to
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Speaker 2: wrap back to my actual point, one of them said
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Speaker 2: the other day on the show, They're like, oh, didn't
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Speaker 2: you grow up and be taught that talking about money
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Speaker 2: is disgusting and vulgar and all of this. And I
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Speaker 2: was just like, Sis, we need to talk. Like I
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Speaker 2: literally was looking at it, going that's such a toxic mentality.
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Speaker 2: And it's been a really long time since I've been
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Speaker 2: faced with that kind of opinion. And I mean, it
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Speaker 2: wasn't directed at me, but seeing someone be like, it's
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Speaker 2: actually disgusting, Like you shouldn't do that, Like you shouldn't
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Speaker 2: talk about money or how much you pay for anything,
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Speaker 2: or and I was just like hold up, like that's
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Speaker 2: something that is now empowering women and putting them in
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Speaker 2: the best possible position to get paid what they're worth
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Speaker 2: and do what they need to. And I just feel
4:20
Speaker 2: like the idea that talking about money is gross just
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Speaker 2: it really irked me, and I was just like, our
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Speaker 2: money diaries exist purely for you guys to know what
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Speaker 2: other people go through and how that works. And look
4:33
Speaker 2: how much we've learned over the last few years of
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Speaker 2: sharing money diaries. And I think we've all learned over
4:39
Speaker 2: you know, the last three years of she'ese on the money,
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Speaker 2: that talking about money doesn't mean I go, hey, just
4:43
Speaker 2: how much do you earn? Like we can have wholesome,
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Speaker 2: really productive conversations about money without talking personally about what
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Speaker 2: you earn. I mean, I'm all for sharing that and
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Speaker 2: talking about that because that puts us on a better,
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Speaker 2: more equal playing field. But man, I was really taken
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Speaker 2: aback by that. And so then looking at this money,
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Speaker 2: it's just so cool that she's rejigging her financial circumstances
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Speaker 2: and putting herself in the driver's seat, which I think
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Speaker 2: is something that should be extended to everybody one.
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Speaker 4: Hundred percent, And like that's why we love having such
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Speaker 4: diverse stories. This was an international story as well, which
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Speaker 4: was so cool. It blows my mind that we have
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Speaker 4: people living internationally and if you live in another country,
5:18
Speaker 4: let us know, because that we always get such a
5:20
Speaker 4: kick out of hearing where you're listening from. It also
5:22
Speaker 4: was a very interesting look into a world that's very
5:25
Speaker 4: different from our own because she shared about her parents
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Speaker 4: who are living in Venezuela, and for those who don't know,
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Speaker 4: I really didn't know a lot about it. The economic
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Speaker 4: and civil climate over there is really at a boiling
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Speaker 4: point and it's a really tough place to be living,
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Speaker 4: and she was assisting them financially, and it was a
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Speaker 4: good reminder that there's a much bigger world out.
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Speaker 2: There than talking about rent and eggs cost and whether
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Speaker 2: we can save up for a home to polit It's
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Speaker 2: so wild, isn't it.
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Speaker 5: It absolutely is.
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Speaker 4: And she was so candid in sharing her backstory, her parents' backstory.
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Speaker 4: I was really really grateful for it.
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Speaker 2: Wednesday was a good deep dive, Miss Georgia King. Were
6:01
Speaker 2: you allowed back on the podcast?
6:02
Speaker 6: I was allowed back on. You are so lucky, I know.
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Speaker 6: And this week we spoke all about passive versus active investing.
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Speaker 2: Lady, what a dream. I think I'm the only one
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Speaker 2: who really enjoyed that episode. But that is okay.
6:16
Speaker 6: I learned some things. Do you want to hear?
6:18
Speaker 2: I want to know what you learned.
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Speaker 6: An active investor tries to beat the market, whereas a
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Speaker 6: passive investor tracks a market index. So we spoke about
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Speaker 6: the pros and cons of each. You'll be able to
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Speaker 6: figure out what type of investor you are. It's it's
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Speaker 6: a lot of fun.
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Speaker 1: You know.
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Speaker 2: In Dolly Doctor, they used to have the quiz like
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Speaker 2: this or you're that?
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Speaker 5: Like which one direction member are you?
6:38
Speaker 7: Yeah?
6:38
Speaker 2: Not even in Dolly Doctor. It was just in Dolly
6:40
Speaker 2: like the Dolly Doctor ones will always way more perfuse
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Speaker 2: which Luba are you? I don't know. That's all I
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Speaker 2: could think of. I'm sorry, but we should bring those
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Speaker 2: back and make like investing risk profiles sexier, like which
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Speaker 2: one direction are you? And then we should allocate different
6:57
Speaker 2: risk profiles to each of them. Are you, Harry? I
7:00
Speaker 2: don't know.
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Speaker 6: You sucks to be a Liam Paid. I'm kidding, great guy,
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Speaker 6: by all.
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Speaker 2: Reports, Just Georgia King. Let's move away because we've spoken
7:08
Speaker 2: about Liam payin Harry and lube. We are going to
7:11
Speaker 2: go into our budget directed money wins of the week.
7:14
Speaker 2: What have you got to bring to the table?
7:15
Speaker 1: Do it?
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Speaker 6: The first win comes from gri Money Win. I received
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Speaker 6: a check from A and Z for a closed credit
7:20
Speaker 6: card I had overpaid on at the time of closing.
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Speaker 6: I overpaid a dollar thirty nine and because of the
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Speaker 6: interest A gained over the years, I got a check
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Speaker 6: for fifty two dollars.
7:29
Speaker 2: Oh money Wi.
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Speaker 4: I said, I feel like she gained the system. Also
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Speaker 4: very interested that you just said A and Z.
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Speaker 1: Oh my god.
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Speaker 5: I thought about letting it flies and I was like, noah, God,
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Speaker 5: you never know what's going to come out of your mouth.
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Speaker 6: All these things.
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Speaker 2: Okay, So I used to get in so much trouble
7:45
Speaker 2: growing up. Eric Devine, if you are listening, I am
7:47
Speaker 2: still salty about this. But he'd be like, Z is
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Speaker 2: the American way of saying things. You need to say Z.
7:53
Speaker 2: That is Australian and British, and we use British English
7:56
Speaker 2: in this house. And I'd be like, okay, so everybody
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Speaker 2: else is doing their avcs and I'm like X Y Z,
8:02
Speaker 2: and my dad would be like hitting the roof. He's
8:04
Speaker 2: like it's X Y Z and be like that just
8:06
Speaker 2: doesn't flow. The flow is not there, so you're messing
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Speaker 2: with the juju in this room by saying that.
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Speaker 6: Georgia, where I stand by A and C. Let's move
8:14
Speaker 6: on to Sarah's money. When I recently visited a new
8:18
Speaker 6: dentist clinic near the city and they found five fillings
8:21
Speaker 6: that are due for replacing, the quote was horrendous. I
8:25
Speaker 6: went to see my local regular dentist and their quote
8:27
Speaker 6: was seven hundred dollars less. So that's where I'll be
8:30
Speaker 6: going for my next appointment.
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Speaker 2: You just message her for the deets. Yeah, exactly, Sarah.
8:34
Speaker 6: I'll be in touch. But do you guys go to
8:36
Speaker 6: the dentist, because I don't.
8:38
Speaker 1: We do.
8:38
Speaker 2: Actually just might have the same dentist to Farty at
8:43
Speaker 2: the Richmond Dentist and Ancrease an actual legend. But yeah, no,
8:48
Speaker 2: it is expensive. But dental work across the board I
8:50
Speaker 2: think is expensive. And I feel like we're lucky in
8:53
Speaker 2: Australia because in America it's actually cooked. But like to me,
8:57
Speaker 2: teeth are really important. So a good dentist is want
9:00
Speaker 2: it worth the money to be. I didn't go to
9:02
Speaker 2: them just four decades.
9:06
Speaker 5: Because I was so anxious about put that on the pod.
9:08
Speaker 4: Yeah, people, I think I'm gross, but yeah, like finding
9:10
Speaker 4: someone where you feel comfy, I would, And this is
9:12
Speaker 4: a really good example of values based spending. Our dentist
9:15
Speaker 4: is a little pricier, but I've never felt more comfortable,
9:19
Speaker 4: and they're so good about taking me through and making
9:21
Speaker 4: me feel good that I'm like, you know what, that's
9:23
Speaker 4: worth a bit more money to.
9:24
Speaker 2: Take some convincing as well. I was like, no justice,
9:28
Speaker 2: I promise, just kept thinking like I really need to go,
9:31
Speaker 2: and I literally got to the point where I was like,
9:32
Speaker 2: do you need me to come? Like I will hold
9:34
Speaker 2: your head. And then she went and I think you
9:36
Speaker 2: called me on the way home and you.
9:37
Speaker 6: Were like they're so nice, like it was fun.
9:40
Speaker 2: They're going to do this and now just like getting
9:41
Speaker 2: in disil line and going the whole hole, I'm like, wow,
9:44
Speaker 2: from just wanting to check up to doing a full
9:47
Speaker 2: invisil line journey, I think in visil line sponsorship because
9:51
Speaker 2: that stuff is real spinner. If you want to look
9:53
Speaker 2: about if money losses.
9:55
Speaker 4: I feel like there's a note on my file that
9:57
Speaker 4: literally says she is petrified handle with care.
10:03
Speaker 2: When she comes in, all right, what else have you got?
10:06
Speaker 6: The next one comes from Brianna. Guys, it is a
10:09
Speaker 6: money loss. Taylor Swift announced her new album and Life.
10:14
Speaker 2: When that is an investment, I'm sorry, what do you mean?
10:18
Speaker 6: She said she had to pre order the vinyl and
10:20
Speaker 6: the CD.
10:21
Speaker 4: So yeah, on the same day as the Arctic Monkeys album.
10:25
Speaker 4: Stop it, don't call me, don't talk to me. My
10:27
Speaker 4: calendar says, do not disturb.
10:30
Speaker 2: What She's actually not joking, like, I, yes, my god,
10:37
Speaker 2: all day the first half of the day.
10:40
Speaker 6: Arctic Monkeys.
10:43
Speaker 2: Yeah, And I'm just like you, what's like?
10:45
Speaker 6: That's self care?
10:46
Speaker 2: Baby.
10:46
Speaker 6: Yeah.
10:46
Speaker 2: But in my head, I was like, Oh, she's going
10:48
Speaker 2: to these concerts. No, she's not. She's at home.
10:51
Speaker 5: I'm listening and I'm crying and I'm feeling the feelings.
10:53
Speaker 6: I hope, I hope they're both amazing for you.
10:55
Speaker 2: Don't we approve You'll leave in this office for literally anything.
10:58
Speaker 2: It's all good.
10:59
Speaker 6: The next comes from Georgie money Win. I started collecting
11:02
Speaker 6: containers for return collection two months ago and I did
11:05
Speaker 6: my first drop off today. That's an extra twenty dollars
11:07
Speaker 6: in my savings. Plus I'm helping the environment. Every little
11:10
Speaker 6: bit helps.
11:11
Speaker 2: Hos love this.
11:13
Speaker 6: The next wind comes from Bella money win. I've been
11:15
Speaker 6: dying to couch upgrade for months, but I wasn't financially
11:18
Speaker 6: ready to do so. I happened to be on good
11:20
Speaker 6: karma at the right time and someone was trying to
11:23
Speaker 6: sell a seven thousand dollar couch, but they were sick,
11:26
Speaker 6: no shows and time wasters, so I got it for free.
11:28
Speaker 6: What this is a very hot deal.
11:30
Speaker 2: That's a hot deal.
11:31
Speaker 6: Seven thousand dollars.
11:32
Speaker 2: Seven thousand dollars couch, all right, But let's flip this.
11:36
Speaker 2: Imagine making the circumstance where you're the owner of a
11:38
Speaker 2: seven thousand dollar couch and you're like whatever, I'm in
11:41
Speaker 2: a financial position where if someone can just come get.
11:43
Speaker 4: It, think they must look good tree by a lot
11:46
Speaker 4: of people to get Yeah, well.
11:49
Speaker 6: I'm seven thousand dollars down the drain.
11:50
Speaker 2: Please DMS pictures of the couch on me to see yes,
11:54
Speaker 2: please please.
11:54
Speaker 6: The next wind comes from Emma Kate money win. I
11:57
Speaker 6: got a ten percent pay rise at the job. I've
11:59
Speaker 6: only been out for six months. Money not bad. And
12:03
Speaker 6: the last one for the day comes from Ainsley. It
12:05
Speaker 6: is the ultimate money win. She writes, today I received
12:08
Speaker 6: a verbal offer for a role in another state that
12:11
Speaker 6: pays thirty three thousand dollars more than my current role.
12:14
Speaker 2: Oh what alleg you.
12:15
Speaker 6: I'm still in shock. But now it's time to plan
12:18
Speaker 6: the big solo move.
12:19
Speaker 2: Oh my gosh, I want to know what she's doing.
12:21
Speaker 2: You guys need to give me way more info on
12:23
Speaker 2: these money wins, Like I want your life story, you
12:26
Speaker 2: know how some people like get to the point. I'm like, no, no, no,
12:28
Speaker 2: I want to know where you grew up and what
12:30
Speaker 2: your dog's name was, and then what was your money winn? Again?
12:33
Speaker 6: Oh that's it for the week.
12:34
Speaker 2: That's it for that week. Oh my gosh, Well, Georgia King,
12:37
Speaker 2: it has been a fantastic celebrating some of your budget
12:39
Speaker 2: direct money wins. Budget Direct winner of Canstares Insurer of
12:43
Speaker 2: the Year Award twenty twenty two. Budget Direct Insurance Solved.
12:48
Speaker 2: Let's go to a really quick break and after that
12:49
Speaker 2: we are going to answer some spicy questions about sharing
12:53
Speaker 2: property potentially with your partner. Don't go anywhere, all.
13:01
Speaker 4: Right, guys, Today I have some local news Victorian news.
13:05
Speaker 4: Apologies for our friends in other states, but it does
13:07
Speaker 4: come into a broader conversation, so please don't turn off.
13:10
Speaker 4: I wanted to talk about this announcement that came out
13:12
Speaker 4: from a Victorian government all about covering hex stet, which
13:16
Speaker 4: is really exciting, and so we've spoken about many many
13:19
Speaker 4: times on the podcast.
13:20
Speaker 2: With my six figures of hex step, my ears pricked
13:23
Speaker 2: straight up.
13:23
Speaker 4: Yeah, and unfortunately not for you. No, but we know
13:27
Speaker 4: that there's a real skills shortage in the health care sector.
13:31
Speaker 4: Our our care workers have been absolutely slammed through COVID.
13:34
Speaker 4: People are exiting that industry at incredibly high rates, understandably,
13:39
Speaker 4: so I think to kind of encourage people to get
13:41
Speaker 4: back in to get new blood. The Victorian government has
13:44
Speaker 4: announced that they will be covering the full cost of
13:47
Speaker 4: hextet for more than ten thousand students who are studying
13:51
Speaker 4: nursing or midwifree undergraduate degrees, which ten that's a lot
13:55
Speaker 4: of hextet to be paid ten thousand. If you think
13:57
Speaker 4: about what the average HEXTET is maybe ten grand a year.
14:01
Speaker 5: Yeah, yeah, call it.
14:02
Speaker 4: Call it like Ballpark's thirty grand times ten thousand.
14:06
Speaker 6: You've lost me.
14:07
Speaker 5: That's too many zeries for my head. I can't do it.
14:08
Speaker 4: But that's a lot of money, and they're obviously aiming
14:11
Speaker 4: at getting that sector back up, aiming at getting us,
14:13
Speaker 4: you know, the infrastructure all set up so that, Heaven's forbid,
14:16
Speaker 4: if anything were to happen again, we're a little bit
14:19
Speaker 4: more prepared, if you will.
14:20
Speaker 2: I just googled it. Guys, an average undergraduate degree in
14:23
Speaker 2: nursing here in Australia will cost you anywhere between twenty
14:26
Speaker 2: and thirty five thousand dollars. Yeah, total, Like, that's lots.
14:29
Speaker 4: It's lots of money, and I think it's really great
14:32
Speaker 4: that they're prioritizing that. But it's opened up the conversation
14:35
Speaker 4: and this is kind of where it gets broader, bringing
14:37
Speaker 4: in our interstate friends back into the fold. I've seen
14:41
Speaker 4: a lot of discourse from people saying, well, I'm halfway
14:44
Speaker 4: through my nursing degree, why isn't my thing being And firstly,
14:47
Speaker 4: I get it. You know, it's like when you buy
14:49
Speaker 4: a bag and then two days later the bag goes
14:51
Speaker 4: on sale and you go, well, I've missed out, and
14:53
Speaker 4: you know, in that instance, I would take the bag
14:55
Speaker 4: back and be like can I get the discount?
14:56
Speaker 5: And maybe I would.
14:57
Speaker 4: Can't really do that with your degree, though, And so
14:59
Speaker 4: a lot of people have been kind of a little
15:01
Speaker 4: bit upset, a little bit offended because they have done
15:03
Speaker 4: nursing previously or they've just started, and for whatever reason,
15:07
Speaker 4: the scheme isn't going to cover them. And I don't
15:10
Speaker 4: even know if ten thousand would cover every single student,
15:12
Speaker 4: let's say next year.
15:13
Speaker 5: I'm sure that there probably will be people who miss out.
15:16
Speaker 4: And I wanted to talk to you and get your
15:17
Speaker 4: thoughts on it, because I guess it's that concept of
15:21
Speaker 4: if someone else receives something that you don't, the impact
15:26
Speaker 4: that that has on you and how you feel. And
15:27
Speaker 4: we saw this mirroad in the US when they forgave
15:30
Speaker 4: student loans or announced that they would be for giving
15:32
Speaker 4: student loans because a lot of people said, well, I
15:34
Speaker 4: paid for my university degree and why should your loans
15:36
Speaker 4: be forgiven?
15:36
Speaker 5: And might not?
15:37
Speaker 4: And I get it, like I get that it's kind
15:39
Speaker 4: of crappy to see someone get a financial windfall, you know,
15:42
Speaker 4: for someone like UbD, like you've got six figures of
15:44
Speaker 4: Texter and that's kind of sucky. But should we be
15:48
Speaker 4: kind of looking at this and going, you know what,
15:51
Speaker 4: Sunnyside up ten thousand more nurses in an industry that
15:55
Speaker 4: is so important to us, and that we're so lucky
15:57
Speaker 4: to have really great healthcare systems. Is that a good thing?
16:01
Speaker 4: How do we deal with those feelings? Because I would
16:03
Speaker 4: say it's understandable if you are feeling a bit pissed off,
16:07
Speaker 4: but like, how do we process those in a positive way?
16:09
Speaker 2: I have three opinions to share.
16:11
Speaker 5: That's a lot of a play.
16:12
Speaker 2: Yeah, three three three, only probably more, let's be honest,
16:16
Speaker 2: because once I get on the roll, I'll be like, oh,
16:18
Speaker 2: and and first, why is it new people signing up?
16:22
Speaker 2: Why isn't it the next ten thousand people to graduate
16:25
Speaker 2: having their HEX step wiped? Why isn't it that? Because
16:28
Speaker 2: I just don't understand why. I'd be like, oh, gee,
16:30
Speaker 2: it's free, go sign up for it, and then you
16:32
Speaker 2: finish half the degree. Go finish the degree, put it
16:34
Speaker 2: all on your HEX and once you graduate, you submit
16:37
Speaker 2: the form and you get it all wiped. To me,
16:39
Speaker 2: that makes more sense because you're a legit nurse. You
16:41
Speaker 2: would have gone through placement and actually gone through all
16:43
Speaker 2: of it. I know that that's probably going to be
16:46
Speaker 2: controversial because you're like, why would you want people who
16:48
Speaker 2: are dropping out having to pay for it? And that
16:49
Speaker 2: would then go back to me being like your values,
16:52
Speaker 2: you need to actually know what you want to do.
16:54
Speaker 2: And I genuinely believe in having gap years and not
16:58
Speaker 2: going into a degree that you're not one hundred percent
17:00
Speaker 2: certain on yet. But I would think it should be
17:03
Speaker 2: the next ten thousand people going through, not the next
17:06
Speaker 2: ten thousand people who sign up, because you're right, Jes,
17:09
Speaker 2: people are already doing nursing that could benefit them now. Second,
17:13
Speaker 2: pay nurses and literally all hospital staff better. Like, why
17:17
Speaker 2: are we forgiving hex step when you could allocate that
17:19
Speaker 2: towards paying our nurses and our frontline worker is more money?
17:23
Speaker 2: Why are we not talking about reallocating tax dollars to
17:27
Speaker 2: paying people for looking after us.
17:30
Speaker 6: What is the answer to that being?
17:31
Speaker 1: Wow?
17:32
Speaker 6: Why why are they chosen this stance.
17:33
Speaker 2: Because it's the cheaper option. Education in Australia used to
17:36
Speaker 2: be free, Like I could not be in any debt.
17:39
Speaker 2: I'm grateful to be in hex Step because I genuinely
17:42
Speaker 2: feel like it puts me in a better position and
17:45
Speaker 2: it puts me ahead, and I have chosen to do that.
17:48
Speaker 2: But that's a privilege that is not extended to absolutely
17:50
Speaker 2: everybody in our community. And I think that the ballpark
17:54
Speaker 2: would change if universities weren't something that we had to
17:57
Speaker 2: pay for. There are lots of places around the world
17:59
Speaker 2: that do free education. Obviously America is not one of them.
18:02
Speaker 2: That's really hard, but I just think there are so
18:04
Speaker 2: many things that we could do. Ten thousand nurses like, okay,
18:07
Speaker 2: I bloody love nurses. You guys do so many beautiful things.
18:11
Speaker 2: You are a better human than I ever will be
18:13
Speaker 2: because I cannot do that job, like it would exhaust me.
18:17
Speaker 2: But I just think that they should be paid better,
18:19
Speaker 2: and that's the priority from my perspective, not you know,
18:22
Speaker 2: forgiving a hex step so that they can go and
18:24
Speaker 2: get paid, not enough to get a mortgage. It's just
18:26
Speaker 2: not fair.
18:28
Speaker 6: Tell us more about this. Just when's it coming into play?
18:31
Speaker 6: What's the deal? Just tell us more so.
18:32
Speaker 4: Under the current plan, all new domestic students that enroll
18:36
Speaker 4: in nursing all Midway three in twenty twenty three and
18:38
Speaker 4: twenty twenty four will receive a scholarship up to sixteen thousand,
18:41
Speaker 4: five hundred dollars to cover course costs. Students will get
18:45
Speaker 4: nine thousand dollars over the duration of their course, and
18:48
Speaker 4: then the remaining seven thousand five hundred will be paid
18:51
Speaker 4: if they work in the public health service for two years.
18:53
Speaker 4: They're incentivizing people to start.
18:55
Speaker 2: Actually stay okay, I like that. Maybe you shouldn't have
18:58
Speaker 2: let me have an opinion so early on.
19:00
Speaker 4: They also have offered assistance to people studying post grad
19:03
Speaker 4: studies in these areas, so intensive care, pediatrics, nurse practitioner specialties,
19:09
Speaker 4: and things like that. They will be giving out ten
19:11
Speaker 4: thousand dollars scholarships and eleven thousand dollars scholarships will be
19:15
Speaker 4: available for enrolled nurses to become registered nurses. So it
19:19
Speaker 4: covers off on a few different things. There's a few
19:21
Speaker 4: I guess working parts there, but I think overall it's
19:25
Speaker 4: great to see in supporting I think you're totally right
19:27
Speaker 4: that perhaps it would have been even better to see,
19:30
Speaker 4: you know, the award lifted across the board so that
19:33
Speaker 4: everybody could benefit. But I is something better than nothing
19:37
Speaker 4: in this situation. I guess it's the question.
19:39
Speaker 6: I think that's really true. Just it's nice, Like, obviously
19:42
Speaker 6: we're going to nitpick, and it's our role to do
19:44
Speaker 6: so we're a finance podcast, but it is nice to
19:46
Speaker 6: celebrate the small wins like this is huge For me,
19:50
Speaker 6: I would ask the question of, like, where do you
19:52
Speaker 6: draw the line in terms of I'm sure there's people
19:55
Speaker 6: listening that are in other industries that are feeling like, well,
19:58
Speaker 6: why do I have a fifty grand it for not
20:01
Speaker 6: doing that degree? And also will it encourage people that
20:06
Speaker 6: aren't the right people for that industry.
20:08
Speaker 2: To pursue that industry because of.
20:10
Speaker 6: Because it's more more respect affordable option. Correct, So what
20:13
Speaker 6: do you guys make of that? Because nurses are like
20:16
Speaker 6: the most special people that there are, and if people
20:19
Speaker 6: are allured to it for the financial gains, is that
20:22
Speaker 6: necessarily the right thing.
20:24
Speaker 4: I'd be interested to see what happens. And I guess
20:26
Speaker 4: maybe this is where you get that upfront and then
20:28
Speaker 4: that secondary coverage, because nursing, I would imagine, is a
20:32
Speaker 4: very intensive course, Like I don't think if you're not
20:36
Speaker 4: cut out for it, I think would be quite hard
20:38
Speaker 4: to make it through that course because there's so much
20:41
Speaker 4: practical experience required before you go into the field. So
20:45
Speaker 4: you would hope that that would kind of weed you know,
20:48
Speaker 4: anyone maybe who wasn't ideal out, But then I don't
20:51
Speaker 4: know how that works because obviously there's not a great
20:52
Speaker 4: return on the government's investment if people are, you know,
20:54
Speaker 4: leaving the course and not becoming nurses. So I don't
20:57
Speaker 4: really know how that would work. I guess the point
20:59
Speaker 4: you made about people in other industries because there are
21:01
Speaker 4: absolutely other industries that work incredibly hard and providing credible value. Yeah,
21:06
Speaker 4: and that's kind of like the thing that I was
21:07
Speaker 4: touching on before is it is really sucky, And I
21:10
Speaker 4: guess it's I want to say, it's okay to feel
21:12
Speaker 4: like it's sucky and to be a bit sad and
21:14
Speaker 4: to be a bit annoyed, but also trying to remember
21:17
Speaker 4: that this outcome is aimed at improving the lives of everyone.
21:22
Speaker 4: It's aimed at stabilizing our healthcare system, which at some
21:25
Speaker 4: point all of us will need to rely on, and
21:27
Speaker 4: that's a good thing. But also like I get it,
21:30
Speaker 4: like I get that it's shitty because everyone would like
21:32
Speaker 4: a free education, right.
21:34
Speaker 2: I agree, But maybe again controversial opinion. I think that,
21:39
Speaker 2: you know, if I was Prime Minister, I think all
21:42
Speaker 2: frontline workers should get free education. Like you guys are
21:45
Speaker 2: coming in contact with the public to put our community
21:48
Speaker 2: in a safer, better position. Like I just think that,
21:51
Speaker 2: you know, I have been so lucky to be able
21:55
Speaker 2: to study finance and go do a business degree. But
21:57
Speaker 2: that's me pursuing my passion that you know is arguably
22:01
Speaker 2: a bit self serving. Like it is me going I'm
22:03
Speaker 2: passionate about this, I'm going to follow that. If you're
22:05
Speaker 2: a nurse, if you're a doctor, if you're a PSA,
22:08
Speaker 2: if you're an early childhood educator, like you are thinking
22:12
Speaker 2: about the needs of other people to begin with, you
22:14
Speaker 2: are doing your job for the greater good of the community.
22:17
Speaker 2: And I think it puts our country and our community
22:20
Speaker 2: in an even better position. Like people go into the
22:23
Speaker 2: police force and they're firefighters and their ambos and their
22:26
Speaker 2: nurses and their PSAs and their childcare workers, and I
22:30
Speaker 2: just think that that type of career decision should be
22:33
Speaker 2: rewarded because it benefits our society as a whole. It's
22:37
Speaker 2: not something that, you know, again, very self serving. But
22:41
Speaker 2: I did my degrees because I was following my passions.
22:44
Speaker 2: I obviously want to have an impact, and like that's
22:46
Speaker 2: what drives me. I'm so wildly passionate about putting women
22:50
Speaker 2: in a better position. But I would argue I'm not
22:52
Speaker 2: a frontline healthcare worker, and Jess, you and I have
22:54
Speaker 2: had this conversation before where we're like, we're so grateful
22:57
Speaker 2: for our jobs. Like if we've got our periods and
22:59
Speaker 2: want to go all up with a heat pack in
23:01
Speaker 2: bed and work from bed, we've got that flexibility. You're
23:04
Speaker 2: a nurse, you can't do that. You have any type
23:07
Speaker 2: of frontline working job. You cannot let your personal needs
23:11
Speaker 2: outweigh the need to do your job and fulfill an outcome, right, Like,
23:15
Speaker 2: I just think those roles are so super special. I
23:18
Speaker 2: do think you deserve a free education above and beyond me.
23:21
Speaker 2: Who was someone who just followed my passion? And if
23:23
Speaker 2: nursing is your passion, great, but it's what benefits the
23:26
Speaker 2: community and I think that that should come into play
23:29
Speaker 2: when this conversation is being had. But again, personal opinion,
23:33
Speaker 2: probably an opinion not everybody agrees with, but we need
23:36
Speaker 2: these people to make our world go around, and over
23:38
Speaker 2: the last three years we really learned that.
23:40
Speaker 6: So much in that conversation. Ladies. Maybe it's a blog post.
23:43
Speaker 6: I don't know, we'll see, but for now, I think
23:45
Speaker 6: it's time to listen to today's money dilemma. Let's go, Hi, there,
23:51
Speaker 6: have you got a money dilemma? You just can't solve that.
23:53
Speaker 6: She's on the Money Team is here to help. Every
23:56
Speaker 6: week we tackle your dilemmas, both big and small, to
23:58
Speaker 6: answer your most burning money, career and life questions. To
24:02
Speaker 6: get involved, simply head to our website and leave us
24:05
Speaker 6: a quick voice recording and you may just find yourself
24:07
Speaker 6: on the show. Now, let's take a listen to today's
24:09
Speaker 6: money dilemma.
24:11
Speaker 7: Hey guys, just a brief summary. Me and my partner
24:14
Speaker 7: have been together for five years. He's got an investment
24:17
Speaker 7: property and plans to build a granny flat on the back.
24:20
Speaker 7: When we've been communicating out about our future recently, he's
24:23
Speaker 7: told me that he doesn't want to have my name
24:25
Speaker 7: in that property because he's made it himself. Is that
24:29
Speaker 7: okay to have separate investments? And how important is it
24:32
Speaker 7: to have that traditional split mortgage just because it's different
24:35
Speaker 7: to norms of society? Does that make it wrong? And
24:37
Speaker 7: should I be grateful that I don't have to pay
24:39
Speaker 7: for much? But that means that things won't be my name?
24:42
Speaker 7: And if I am to do an investment property in
24:43
Speaker 7: my own, like, how do I start? And what does
24:46
Speaker 7: that look like for me? And yeah, I guess is
24:48
Speaker 7: that normal to have it separate or okay.
24:51
Speaker 2: You're right, interesting one that my loves, but one that
24:54
Speaker 2: I think you guys are maybe a little bit better
24:56
Speaker 2: versed in responding to, because Jess.
25:00
Speaker 5: Yes, talk to me.
25:02
Speaker 1: Yeah.
25:02
Speaker 4: Look, there's really two elements to this question. Firstly, she's asking,
25:06
Speaker 4: is it a red flag that he doesn't want to
25:08
Speaker 4: put my name on it? Is that problematic? And then
25:10
Speaker 4: she's kind of asking, well, what does that look like
25:12
Speaker 4: for me if we do do things independently. So to
25:15
Speaker 4: answer the first question, I personally don't think it's a
25:17
Speaker 4: red flag at all. In fact, that's exactly what I
25:19
Speaker 4: plan on doing when I buy that.
25:20
Speaker 2: That's why I mean, it's a red flag if you
25:24
Speaker 2: had to pay for it and then you don't get
25:25
Speaker 2: your name on it. With like, there probably a few
25:27
Speaker 2: caveats here.
25:28
Speaker 4: And this is like the thing right and you know,
25:31
Speaker 4: I'm not buying an investment property all we hopefully occupying
25:33
Speaker 4: a property one day soon. But the thing here is
25:36
Speaker 4: he has done this on his own, He's purchased it
25:38
Speaker 4: by himself. And I guess we don't have all of
25:41
Speaker 4: the details. In a sense, if we don't know is
25:43
Speaker 4: she living there, is she not living there? I'm assume
25:45
Speaker 4: if it's an investment, she's not. You know, if they're
25:47
Speaker 4: putting the granny flat on the back, are they planning
25:49
Speaker 4: on living in the granny flat? If so, will she
25:51
Speaker 4: be contributing financially? You need to know all of that out.
25:54
Speaker 4: But I think that if someone has worked to do something,
25:56
Speaker 4: and I guess I'll use myself as an example here,
25:58
Speaker 4: I plan on buying a house by myself for weeen
26:01
Speaker 4: behavior thank you snaps for me, but I'm in the
26:03
Speaker 4: position financially to do so. My partner is still studying.
26:06
Speaker 4: It just is what makes sense.
26:07
Speaker 2: It just makes sense for your situation.
26:08
Speaker 4: Correct that The conversation that we have had and that
26:11
Speaker 4: I've spoken about on the pod before is that, well,
26:13
Speaker 4: I'm so happy to do that, and you know, we
26:15
Speaker 4: will live there, and we've kind of had to work
26:17
Speaker 4: out what that model looks like. And ultimately he will contribute,
26:21
Speaker 4: I guess, rent, but I will be responsible for the
26:24
Speaker 4: costs of the house, like the rates and the ownership costs,
26:27
Speaker 4: so for him it will be like he's renting as
26:29
Speaker 4: he is currently. And that's because I wanted to really
26:32
Speaker 4: clearly draw those lines in the sand and be like God, forbid.
26:36
Speaker 4: If anything goes wrong, I want it to be very
26:39
Speaker 4: clear that this thing that I have worked my butt.
26:41
Speaker 2: Off to do is is because that's really fair because
26:45
Speaker 2: if the flip, like, let's pretend you grow old together,
26:48
Speaker 2: what's that matter if you had that conversation and he
26:50
Speaker 2: was just paying rent that whole time, like that asset's
26:53
Speaker 2: benefiting him in the long term. Yeah, and then thank you, ma'am.
26:56
Speaker 2: The reason you're structuring it that way is if one
26:58
Speaker 2: day something happens, you don't end up having worked your
27:01
Speaker 2: butt off to own a house that somebody else didn't
27:04
Speaker 2: work their butt off for and then they have half
27:06
Speaker 2: of And.
27:06
Speaker 4: It sounds like that in this situation, our listener is
27:09
Speaker 4: on the other side of the table. This listener is
27:11
Speaker 4: my partner, do you know what I mean? So, like,
27:13
Speaker 4: he's worked his butt off to have this asset and
27:15
Speaker 4: he wants to protect that, and I think that is
27:17
Speaker 4: very okay. I think that they're doing the right thing
27:20
Speaker 4: in having the conversations about it. Now. That's really kind
27:23
Speaker 4: because you know, you both have to be comfortable with
27:25
Speaker 4: it ultimately. I think it would be very different if
27:27
Speaker 4: he had said, hey, like I have bought this property
27:30
Speaker 4: and I want to renovate it, and I want you
27:31
Speaker 4: to pay half the money for the renovations, because then
27:34
Speaker 4: she has absolutely investment, and that's a different story to
27:38
Speaker 4: get to. I guess the other part of the question,
27:40
Speaker 4: what does she do? You do it like a single,
27:43
Speaker 4: independent lady, like you plan to do it by yourself.
27:46
Speaker 4: If you purchase it by yourself, and I'm obviously not
27:49
Speaker 4: a mortgage broker, definitely talk to one. But if you're
27:51
Speaker 4: purchasing by yourself and you're not on the name of
27:53
Speaker 4: his property and you haven't been involved in another purchase,
27:56
Speaker 4: you are eligible for all of the you know, whatever
27:59
Speaker 4: scheme or guarantees you fit the criteria for. So, for example,
28:03
Speaker 4: the first home Buyers scheme alone or whatever it is,
28:06
Speaker 4: you can qualify for that, whereas if she was to
28:08
Speaker 4: go on his property, she would be excluded. So there
28:11
Speaker 4: are benefits in that sense. Obviously, it's harder because you
28:14
Speaker 4: are getting alone as a single person, which, as I
28:16
Speaker 4: have found.
28:17
Speaker 2: Out Page Challenge.
28:18
Speaker 4: Yeah, it can be really hard, but like you kind
28:21
Speaker 4: of just do the thing as you would in a couple,
28:25
Speaker 4: but by yourself.
28:26
Speaker 2: Does that make sense, Yeah, Look, it makes total sense.
28:29
Speaker 2: And to be honest, if we take away the fact
28:31
Speaker 2: that you're not going to own it because it's actually
28:33
Speaker 2: not yours anyway as a detrimental thing. Here we go,
28:36
Speaker 2: it actually benefits you, you know, Jess. Let's use your
28:39
Speaker 2: situation as a good example. Now, James is still unique,
28:42
Speaker 2: doesn't make sense to him to buy, hasn't had the
28:44
Speaker 2: same capacity and full time employment that you have, which
28:46
Speaker 2: means you're going to buy in the future. If you
28:48
Speaker 2: and James are like, do you know what we do
28:50
Speaker 2: want to buy a family home? You've got that asset
28:52
Speaker 2: in the background that you could use equity in to
28:55
Speaker 2: buy a family home together. So in the future, James,
28:59
Speaker 2: your partner could just decide to go and buy his
29:01
Speaker 2: own property, do his own thing, which you'd be more
29:03
Speaker 2: than okay with. But if you guys go, oh, we
29:05
Speaker 2: want to buy another house, but this time we want
29:07
Speaker 2: to do it together, that actually benefits you because it's
29:10
Speaker 2: an asset you can lend against obviously with your full
29:12
Speaker 2: consent if you wanted to use that. But that means one, Jess,
29:15
Speaker 2: you don't have to save up a whole new deposit
29:17
Speaker 2: because there hopefully will be equity in the property that
29:19
Speaker 2: you own to use. But also benefits James because that
29:23
Speaker 2: security against that future purchase, that puts him ahead and
29:26
Speaker 2: puts him in a more secure financial position. So I
29:29
Speaker 2: think it's not a bad thing. I think it's really
29:32
Speaker 2: beautiful to have these open, honest conversations. But I think
29:34
Speaker 2: it's also like, well, George, if you're going to go
29:36
Speaker 2: buy a house and I had nothing to do with it,
29:39
Speaker 2: like I shouldn't want to lay claim to that, And
29:41
Speaker 2: I think it's you know, not that our listener is
29:44
Speaker 2: in any way, shape or form doing this. I could
29:46
Speaker 2: tell she wasn't by her tone of voice. I don't
29:48
Speaker 2: think she was like, Okay, well, when I break up
29:49
Speaker 2: with him, I won half his property. But that's basically
29:52
Speaker 2: what he's trying to protect against. And I think that's
29:54
Speaker 2: so fair because I've said it a million times. Not
29:57
Speaker 2: every relationship is guaranteed. And here in Australia, fifty percent
30:00
Speaker 2: of marriages and in divorce, so you can never be certain,
30:04
Speaker 2: like you don't get married with the intention of getting
30:06
Speaker 2: a divorce because that stuff is expensive. I can tell
30:09
Speaker 2: you right now, and I'm not even married yet. But
30:11
Speaker 2: I just think it's such an interesting conversation because it
30:14
Speaker 2: can feel really personal, like oh, you don't want me involved, Jess. Yeah,
30:18
Speaker 2: oh you don't want me to be on your thing.
30:20
Speaker 2: It's actually not a personal thing. It's actually then putting
30:22
Speaker 2: themselves in the best possible position. I think that's really healthy.
30:25
Speaker 6: Yeah, and that in turn puts you in the best
30:27
Speaker 6: possible position. I think just yet to add it to that, Vie,
30:30
Speaker 6: which is exactly what you were saying. You just need
30:31
Speaker 6: to take the emotion out of it. This doesn't mean
30:33
Speaker 6: that he doesn't see a future with you or anything
30:36
Speaker 6: like that. He's just protecting himself, which is exactly what
30:39
Speaker 6: we teach people to do on this podcast. If the
30:41
Speaker 6: situation was reversed, which it is for you, j Rick.
30:43
Speaker 6: You know, we're clapping and cheering because that's amazing to
30:46
Speaker 6: take financial control. So yeah, just take the emotion out
30:49
Speaker 6: of it. Think of it really pragmatically.
30:50
Speaker 2: And maybe he's been listening to the poder. Perhaps he's
30:53
Speaker 2: a little fair because our listener question, she's clearly listening
30:57
Speaker 2: to the pod, and she's been listening to the pod,
31:00
Speaker 2: and you know, was going to buy a house. I
31:01
Speaker 2: hope she'd be like, Oh, Victoria's in my head. I
31:03
Speaker 2: probably should have this conversation. He's just doing the right things.
31:05
Speaker 6: I'm doing the right thing.
31:07
Speaker 2: I love that. But guys, I think that is unfortunately
31:09
Speaker 2: all we have time for today. So Georgia King, would
31:13
Speaker 2: you please wrap the boring but important stuff.
31:15
Speaker 6: Of course, please remember, guys that the advice shed on
31:17
Speaker 6: She's on the Money is general in nature and does
31:19
Speaker 6: not consider out your individual circumstances. She's on the Money
31:23
Speaker 6: exists purely for educational purposes and should not be relied
31:26
Speaker 6: upon to make an investment or a financial decision. And
31:29
Speaker 6: we promise Victoria Divine and She's on the Money are
31:32
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31:37
Speaker 6: four seven zero nine seven seven nine seven zero four
31:39
Speaker 6: nine AFSL two Threy six five two three wash Mick.
31:42
Speaker 2: We'll see you guys on Monday. Hi, guys.
31:44
Speaker 4: Bye,