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Is It Time to Normalise Financial Success Celebrations? · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
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Speaker 1: the Order Kerni Whaltbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
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Speaker 2: Let's get into it. She's on the Money. She's on
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Speaker 2: the Money. Hello, and welcome to She's on the Money,
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Speaker 2: the podcast that makes personal finance fun, especially on a Friday.
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Speaker 2: It's our favorite day of the week because we get
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Speaker 2: our team together and we get to celebrate you in
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Speaker 2: our new studios. Still the incredible She's on the Money community. Ms.
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Speaker 2: Just Greech's here and she's sharing our favorite money wins
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Speaker 2: from the Facebook group. Miss becksay Ed is sharing her
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Speaker 2: broke tips and we're going to be helping to answer
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Speaker 2: a money dilemma, which this week is all about getting
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Speaker 2: declined for a credit card. Then you slid into our
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Speaker 2: dams about something whether you should hide your financial glow
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Speaker 2: up from your friends. Spicy. But before we get there,
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Speaker 2: how have your weeks been personally.
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Speaker 3: Really really really good, really fun? Just like, don't you
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Speaker 3: have a good week? Come in and been like it's
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Speaker 3: a bad week. Jess comes in and she's like, yep, so.
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Speaker 2: The hole in my roof is like floater and like it. No,
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Speaker 2: Beck lives in the world with none. She's like, no,
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Speaker 2: nothing worries me. And then you'll be like, oh, I
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Speaker 2: didn't your housemate mentioned that the front of your house
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Speaker 2: was falling off. It's not a problem. Sunshine.
2:04
Speaker 3: We do get a ray of sunshine in the house now,
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Speaker 3: which is great. No, I'm trying to think, like, and
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Speaker 3: this is what I kind of feel bad about it
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Speaker 3: because I'm like, oh, I want to bring something juicy
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Speaker 3: to the table, but so far when I'm getting we
2:15
Speaker 3: have p mess like everything is just like awful.
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Speaker 2: But it's not.
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Speaker 3: PMS week and so gorgeous week, beautiful, sunny, live, love laugh.
2:24
Speaker 2: I like that. I do like that for me. Yeah,
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Speaker 2: it's louty your face, So I would like to eat
2:29
Speaker 2: absolutely everything in my sight and you know when you
2:33
Speaker 2: sometimes just I don't know if other people track their
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Speaker 2: cycles as much as I do. I am do Bluelu,
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Speaker 2: but I completely forgot where I was at. I was
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Speaker 2: like walking around the office and I was like, I'm
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Speaker 2: so hungry. I could literally eat like ten croissants, Like
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Speaker 2: if you put another one in front of me, I
2:48
Speaker 2: would eat it. And one of the people in my
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Speaker 2: office was like, luty your phase and I was like, yep,
2:52
Speaker 2: they're like same, and I was like, oh, you should
2:55
Speaker 2: get started. And then then we went and got croissants
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Speaker 2: started just like I have star Do you have startups?
3:01
Speaker 2: You said the same person. It was Zara. We like
3:03
Speaker 2: two peas in a pod in sync. Now. She told
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Speaker 2: me to get start us. I am obsessed and it's
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Speaker 2: so great. That's a money win.
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Speaker 3: So Jess, my partner, and I use it so I
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Speaker 3: can track her cycle, she can track mind and so
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Speaker 3: like if she's in the Holy Teal phase, I'll know
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Speaker 3: to bring snap.
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Speaker 2: So just do you send I haven't sent it to
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Speaker 2: anybody else yet, and the people that suggested it or
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Speaker 2: Zara who suggested it works with me, and I don't
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Speaker 2: know if I'll want to cross that boundary. Yet that's
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Speaker 2: so we do hold our phones up to each other
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Speaker 2: and I'm like, look, I'm here, and then I have
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Speaker 2: my aura ring and I track it on that and
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Speaker 2: with natural cycles as well, So like I think I
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Speaker 2: have three apps at the moment, just like tracking my
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Speaker 2: body lead good. I love that for us. Beck Moving
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Speaker 2: on from this though, mister, how's your week being?
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Speaker 4: Not to bring the sad girl vibe? I don't want
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Speaker 4: to be the rain cloud, which.
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Speaker 2: Is how can it's sad and all emotions are welcome,
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Speaker 2: thank you.
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Speaker 4: I feel very safe. Oh you know, it's nothing too bad.
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Speaker 4: I just you, guys know, I like thought that maybe
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Speaker 4: I was gonna buy a house and then it didn't happen.
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Speaker 2: It didn't happen for a reason, Jessica.
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Speaker 4: It just like it's so disheartening. I feel like cost
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Speaker 4: of living is just ourly. We were talking about Easter
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Speaker 4: last week. It was just like a silly little thing.
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Speaker 4: But like I'm just and I know that everyone else
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Speaker 4: is feeling it too, and so I don't want to
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Speaker 4: be like, oh it's just me that's having such a
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Speaker 4: hard time. But it's just so hard and so expensive
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Speaker 4: to be alive right now. And I just am like
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Speaker 4: did you and your things just feel so insurmountable. It
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Speaker 4: feels like it's just never gonna happen, and I've never
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Speaker 4: gonna be able to a waterhouse and I'm just gonna
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Speaker 4: rend forever and be sad always.
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Speaker 2: It's not true, But we also need to contextualize it. Right, So,
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Speaker 2: you grew up and we have shared a lot about
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Speaker 2: your money story and that you know your parents were
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Speaker 2: budget conscious and whatnot, But like we need to remember
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Speaker 2: that in the early nineties or during the nineties when
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Speaker 2: we were born, if our parents earned eighty thousand dollars,
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Speaker 2: for us to achieve the same lifestyle that they had
5:09
Speaker 2: on that eighty thousand dollar income today, we need to
5:12
Speaker 2: earn close to three hundred thousand dollars. And I think
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Speaker 2: that there is this massive disconnect between what lifestyle we
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Speaker 2: have grown up with. We're not saying that we're being entitled,
5:22
Speaker 2: but like you know, Jess, for example, loves Easter. Every
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Speaker 2: Easter has gotten Easter eggs. That is now becoming something
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Speaker 2: that we're like, hold on, does that actually fit in
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Speaker 2: our budget anymore? But it's not something that we've ever
5:35
Speaker 2: questioned needing to fit in our budget before. So it
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Speaker 2: feels not just uncomfortable, but it feels like it's irrational.
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Speaker 2: It feels like, that's crazy. Why couldn't I afford an
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Speaker 2: Easter egg? And like, please, don't get me wrong. We
5:47
Speaker 2: can acknowledge that there are families out there that are
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Speaker 2: doing their best and that's never been an option for them.
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Speaker 2: We're not talking about, you know, oh my god, we
5:55
Speaker 2: can't afford this luxury in life. But more a lot
5:59
Speaker 2: of us are being fronted with the reality that the
6:02
Speaker 2: lifestyle that we lived is actually completely unsustainable now. And
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Speaker 2: it's actually not your fault. It's not due to you
6:07
Speaker 2: can't out budget. The fact that we don't have enough
6:10
Speaker 2: money to live the life we historically had because inflation
6:15
Speaker 2: has taken over how much our income has increased, right,
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Speaker 2: And so we're now in a situation where what we
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Speaker 2: could afford even five, eight, ten years ago is now
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Speaker 2: not what we can afford today. And like that is
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Speaker 2: really real and really disheartening because saving for your first home,
6:35
Speaker 2: Jess can tell you, it's not a one year of savings,
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Speaker 2: is it, Jess, No, And I would.
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Speaker 4: Say it is better deposit than a lot of people.
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Speaker 2: And a better deposit than when we started talking about
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Speaker 2: this journey three or four years ago, and like, you've
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Speaker 2: been on this beautiful like you came to cheese on
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Speaker 2: the money, you've gotten out of debt, like and now
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Speaker 2: you've saved up your house deposit. But even when you
6:55
Speaker 2: started saving up for your house deposit, that marker in
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Speaker 2: time had such different expectations and you were like, Okay, cool,
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Speaker 2: I'm locked and loaded. I'm going to start saving, And like,
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Speaker 2: why would you revisit the goalposts? If you knew in
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Speaker 2: your head you needed to save forty thousand dollars or
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Speaker 2: eighty thousand dollars for your first home deposit, why would
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Speaker 2: you go back and be like is that still reasonable?
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Speaker 2: Is that still reasonable? Consistently? Now, Jess is in this
7:19
Speaker 2: situation where she's finally like I got the money, I've
7:23
Speaker 2: got the juice, let's go. And then someone's like, oh,
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Speaker 2: did you know that you can't go now? And that's disheartening.
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Speaker 2: That feels like trash. I get.
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Speaker 4: Yeah, it's kind of like you hit a point where
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Speaker 4: you go because I would say like, yeah, I agree,
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Speaker 4: like east eggs are totally right, is a luxury, but
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Speaker 4: it also is kind of giving, like avocado toast right, like, yes,
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Speaker 4: not buying the ten dollar easter egg is not going
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Speaker 4: to make or break a house deposit. And you get
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Speaker 4: to a point where you go, well, how much more
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Speaker 4: can I cut? Because I would say I'm pretty good.
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Speaker 2: With she's got the best cash flow system?
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Speaker 4: Yeah where I got that from. I would consider myself
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Speaker 4: pretty good, pretty happy to cut things from my budget.
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Speaker 4: I live well below my means. I save over seventy
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Speaker 4: percent of my income. And it's like even doing what
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Speaker 4: feels like all the right things. And I'm sure I'm
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Speaker 4: not the only one who's like that, and you still
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Speaker 4: can't get there. Yeah, I just yeah, it's gotta be
8:17
Speaker 4: my feels at the moment. It's really hard, really Yeah, Anyway,
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Speaker 4: I'm sure there are lots of other people feel the
8:22
Speaker 4: same way. I don't want to be like, oh woe
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Speaker 4: is me, no special snowflake feeling like this, but no.
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Speaker 2: And I think it's a good conversation to have because
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Speaker 2: it's going to be relatable. But that doesn't mean we
8:31
Speaker 2: don't understand that other people have it worse. But I
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Speaker 2: think that there is definitely and I'm seeing this a
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Speaker 2: lot on social media where people are sharing their struggles
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Speaker 2: or people are sharing the issues they're having or just
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Speaker 2: the things that are taking them off, and other people
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Speaker 2: jump in immediately and say, yes, but Jessica, other people
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Speaker 2: have it worse. But that doesn't necessarily mean that you
8:51
Speaker 2: aren't experiencing an emotional response to an issue or something
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Speaker 2: that's arisen in your life. And I think we could
8:57
Speaker 2: do amount and be like, yeah, just of course people
8:59
Speaker 2: have it worse, But that doesn't mean that my situation
9:02
Speaker 2: isn't valid. That doesn't mean that my feelings aren't valid,
9:06
Speaker 2: or even that my experiences and my goals aren't valid anymore.
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Speaker 2: And I think that by you know, saying to other
9:12
Speaker 2: people other people have it worse, it just dismisses the
9:16
Speaker 2: fact that you care about your own goals. It dismisses
9:19
Speaker 2: the fact that that's important for you. And I would
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Speaker 2: hate for anyone, regardless of whether their goal is to
9:25
Speaker 2: get into their first home or get out of debt
9:28
Speaker 2: or get their first job, to feel like their issue
9:32
Speaker 2: is being dismissed. But it's not like there could be
9:36
Speaker 2: people in our community who were like, I'm so stressed
9:38
Speaker 2: because my million dollar portfolio is going up and down
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Speaker 2: and that gives me anxiety. But it's also like we
9:44
Speaker 2: would go must be nice, but at the same time
9:46
Speaker 2: that must be causing them genuine stress.
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Speaker 3: Yes, yes, fully, but also it is genuinely comforting. Not
9:53
Speaker 3: like to say that I'm enjoying this at all, but
9:56
Speaker 3: it's genuinely comforting to know because it hits people at
9:59
Speaker 3: certain times, Like there'll be times where I'll be, you know,
10:02
Speaker 3: buying I'm.
10:03
Speaker 2: Not buying coffee anymore, but this is the thing. As
10:05
Speaker 2: we did try the other day and we were like, no, no, no, no, no.
10:07
Speaker 3: I'm very grateful for but I'm like, why is it
10:10
Speaker 3: like I'm not that I'm definitely under one hundred k
10:14
Speaker 3: I'm probably like, I don't know, somewhere between fifty and eighty.
10:18
Speaker 3: I can't really calculate it very well for some reason,
10:21
Speaker 3: it's just always been confusing. But I saw I'm by
10:23
Speaker 3: no means like under the poverty line, but I'm also
10:26
Speaker 3: not rich as well. But I'm like, why is that
10:29
Speaker 3: not enough to buy myself a coffee? Like why exactly?
10:32
Speaker 3: Saying like how many more things can we cut out?
10:34
Speaker 3: So it's company to know that this cost of living
10:37
Speaker 3: crisis or whatever we're in right now is actually hitting everyone,
10:43
Speaker 3: and it's not just like the people that have always
10:46
Speaker 3: struggled and feel like they always will struggle, and talking
10:50
Speaker 3: about myself in particular here, but I know there are
10:51
Speaker 3: so many people out there that are going to resonate.
10:54
Speaker 3: It is something companying about knowing. Like I think, if
10:58
Speaker 3: you're in it and you've always been broke and you're like,
11:01
Speaker 3: there's no way anyone who is making a decent living
11:04
Speaker 3: is feelings too. It's like, oh no, okay, we're all
11:07
Speaker 3: in this and it really sucks. And the only thing
11:10
Speaker 3: I want to know, I don't know if we know
11:12
Speaker 3: this yet, but does it ever get better? Or is
11:14
Speaker 3: this just it?
11:15
Speaker 2: It feels like getting better. It's it's getting better. And
11:18
Speaker 2: I want to just like reframe this conversation. And we
11:21
Speaker 2: need to remember the tagline of this podcast that is
11:24
Speaker 2: not the tagline. It's like the unofficial when in doubt,
11:27
Speaker 2: zoom out right. We need to look at the bigger
11:29
Speaker 2: picture and what that means. Like excitingly, the cash rate
11:33
Speaker 2: got dropped, and that is so exciting because that is
11:36
Speaker 2: reflective of the fact that the economy is starting to
11:39
Speaker 2: recover and do better, which means that more cash is
11:42
Speaker 2: going to be free to move around the economy. Which
11:45
Speaker 2: is really exciting. Money is going to become cheaper essentially
11:47
Speaker 2: to borrow, and then from money becoming cheaper, people are
11:50
Speaker 2: able to borrow more to purchase houses. So it is
11:53
Speaker 2: going to get easier. There will be more. Yeah, house
11:57
Speaker 2: prices will know rand will stay the same. Everyone, don't worry.
12:00
Speaker 2: It would not get Probably can we go up? No,
12:05
Speaker 2: I just think when in tooub zoom out. But we
12:08
Speaker 2: also need to like sit down and do our budget
12:10
Speaker 2: and do our cash flow so that we can understand
12:13
Speaker 2: our situations. And if you think someone's not being impacted
12:16
Speaker 2: by this, I would say that you're wrong. They probably
12:19
Speaker 2: just don't talk about their financial situation in the way
12:21
Speaker 2: that we do and in the way that I think
12:24
Speaker 2: everyone should, because if you are earning under three hundred
12:28
Speaker 2: thousand dollars, which is a lot of money, you are
12:31
Speaker 2: feeling this because whether it is your mortgage, whether it
12:34
Speaker 2: is your rent, whether it's school fees or even just
12:36
Speaker 2: buying that extra coffee, that is definitely eating into your
12:40
Speaker 2: budget in a way that it never has before. Because
12:43
Speaker 2: like jes we go back to the Easter eggs and
12:45
Speaker 2: we'll loop this, but we go back to the Easter
12:46
Speaker 2: eggs and it's not the easter eggs, it's the straw
12:51
Speaker 2: that broke the camel's back. It's like, you know, over time,
12:54
Speaker 2: we're seeing milk increase, and you know, cheese is ten
12:56
Speaker 2: bucks a bag, and we're laughing at the old ads
12:59
Speaker 2: from was It Coals who did the Curdis Stone ten
13:01
Speaker 2: dollar meals, which I absolutely adored, But now there's all
13:05
Speaker 2: this content online about the ten dollar meals being laughable
13:08
Speaker 2: because a packet of cheese is ten dollars. Yeah, Like,
13:11
Speaker 2: things like that start to increase, and the latest is
13:14
Speaker 2: literally just the chocolates that we thought everyone just like slipped.
13:18
Speaker 2: I don't know, but as I grew up, and even
13:21
Speaker 2: when I was younger, it's that time of year and
13:23
Speaker 2: you know, I don't know, you grab an extra cream egg,
13:25
Speaker 2: get the check out, and like that doesn't impact the
13:27
Speaker 2: budget significantly. But now we're really having to think about
13:30
Speaker 2: these little things that felt like luxuries, but now they're
13:33
Speaker 2: impacting the bigger picture and you're like, well, is that
13:36
Speaker 2: worth it? Yeah? And that's kind of heartbreaking at the
13:39
Speaker 2: same time as being so important to acknowledge, because there
13:44
Speaker 2: are going to be families that are like what do
13:46
Speaker 2: we do, like how do we do this, Like, you know,
13:49
Speaker 2: one kid who wants one egg? Great, what if you
13:52
Speaker 2: have three kids and then that's thirty bucks and that's
13:54
Speaker 2: exactly what you've been spending on, you know, after school activities.
13:56
Speaker 2: And now you've got to decide what does that look like?
13:59
Speaker 2: Because there are families that are cutting at that fine
14:02
Speaker 2: every week. Like, it's not normal at the moment, from
14:06
Speaker 2: what I'm seeing in our community, from what I'm seeing bigger,
14:09
Speaker 2: it's not normal to have significant amounts to save, significant
14:13
Speaker 2: amounts to invest. And maybe we need to think about
14:17
Speaker 2: this is a season of life and maybe come together
14:20
Speaker 2: more as a community to go this is really crap, Jess,
14:23
Speaker 2: But it's not going to be forever. Yeah, So how
14:26
Speaker 2: do we create that light at the end of the tunnel.
14:28
Speaker 2: Is that more content on what the cash rate's going
14:32
Speaker 2: to do and what the economy is going to look like?
14:34
Speaker 2: Is it more content on affordable housing?
14:36
Speaker 1: Is it?
14:37
Speaker 2: Like I don't know the answer to that, but I
14:39
Speaker 2: do know that talking more about money makes everything easier,
14:43
Speaker 2: not necessarily financially. But to put your hand up and
14:46
Speaker 2: be like actually me too, Oh yeah, actually that is
14:49
Speaker 2: stressful and like even you sharing that, Jess, Beck was
14:51
Speaker 2: immediately like, Oh, I'm glad it's not just me who's struggling,
14:54
Speaker 2: even though it's a different situation. Yeah, so many of
14:58
Speaker 2: our listeners are going to go me too. I thought
15:01
Speaker 2: it was just me.
15:02
Speaker 4: Yeah, I feel your.
15:03
Speaker 2: Pang, guys, one out of ten. Let's change the mood
15:06
Speaker 2: up a little bit before we get into our broke
15:09
Speaker 2: tips and our money winds and confessions. Would you, guys,
15:13
Speaker 2: I don't know if you're interested in a five star
15:15
Speaker 2: really it absolutely need it. This is from Angel and
15:19
Speaker 2: she says I'm in lovely She's on the money. Hey,
15:22
Speaker 2: gorgeous girls, just wanted to let you know that I've
15:24
Speaker 2: been absolutely loving your episodes. The mix of chit chat,
15:28
Speaker 2: insights from money diaries, and more specific education epps are perfect.
15:32
Speaker 2: I've literally built my own emergency fund, started investing and
15:36
Speaker 2: saving because of you girls.
15:38
Speaker 5: Oh.
15:38
Speaker 2: Pes very thankful for Beck and her asking VD the
15:41
Speaker 2: questions that I'm always thinking. It's like when you're in
15:45
Speaker 2: school and no one wants to ask the teacher to
15:47
Speaker 2: re clarify something. Well, I'm very thankful to have Beck
15:50
Speaker 2: to do that for me. Plus, she's really funny and
15:53
Speaker 2: I feel like she always gets mean yes, so nice. Yes,
15:57
Speaker 2: you are a little ray of sunshine. The bands between
15:59
Speaker 2: you make me feel like I'm listening to my girlfriends
16:02
Speaker 2: have a chat. Love you girls. That is so nicely sweet. Yes,
16:09
Speaker 2: thank you Angel. I love that literally, thank you Angel.
16:14
Speaker 2: So sweet. All right, now let's get into it, Jess.
16:17
Speaker 2: What's been happening in our community this week?
16:19
Speaker 5: All right?
16:20
Speaker 4: Well, firstly, very on theme, I've got a money win
16:22
Speaker 4: from Rachelle who said, looking at the price for Easter
16:25
Speaker 4: chocolate this year, I was astounded by the increase. I
16:28
Speaker 4: decided to get on the front foot and ask my
16:29
Speaker 4: family if they would be interested in donating a small
16:32
Speaker 4: amount of money around five or ten dollars each instead
16:35
Speaker 4: of buying chocolate for each other this year. Everyone was
16:37
Speaker 4: a big fan of the plans. We pulled together eighty
16:39
Speaker 4: dollars between the eight of us and donated it to
16:41
Speaker 4: the friend Hollows Founday.
16:42
Speaker 2: Oh my gosh, that's such a sweet idea.
16:44
Speaker 4: We saved money as we would have spent much more
16:47
Speaker 4: on chocolate. It's better for our health and it felt
16:49
Speaker 4: really nice to be able to contribute to charity instead.
16:52
Speaker 2: I do it. That's such a good idea. Yeah, great,
16:55
Speaker 2: that's lovely.
16:56
Speaker 4: Next, I've actually got money lost from faith, but she
16:58
Speaker 4: said it was a valuable life lesson. The car wouldn't
17:01
Speaker 4: start due to a dead battery right before school drop
17:03
Speaker 4: off with peak hour traffic, and she had to call
17:06
Speaker 4: a taxi, which was forty five dollars to get Oh. Apparently,
17:10
Speaker 4: her little one said are you upset, mummy, and she
17:12
Speaker 4: smiled and said nope, this will be a fun adventure.
17:14
Speaker 4: You can tell your friends at school. She assured them
17:17
Speaker 4: that they take another taxi home and sort out the
17:19
Speaker 4: battery replacement later that day. The eight year old then asked,
17:22
Speaker 4: is it going to be too much money, and she
17:24
Speaker 4: confidently replied saying not really. I'll be using my emergency fund.
17:28
Speaker 4: The eight year old then turned to her brother and said,
17:30
Speaker 4: that's like the money in your red piggy bank that
17:32
Speaker 4: you can use if something you like so much costs
17:35
Speaker 4: more than what you've saved.
17:37
Speaker 2: So goodness, how the girls that get it get it.
17:41
Speaker 4: She's down four hundred and seven dollars, including a twenty
17:44
Speaker 4: two dollars reward ice cream after school, but her confidence
17:47
Speaker 4: in building financial habits for the kids is skyrocket.
17:50
Speaker 2: A nice your babies get it too. I love the
17:55
Speaker 2: red Bank visual.
17:56
Speaker 4: That's so wholesome.
17:58
Speaker 2: Oh it's like that.
17:59
Speaker 4: Yes, it's easy, exactly like that, like a little moment. Next,
18:03
Speaker 4: I've got a money win from Christie, who said money win.
18:06
Speaker 4: I was a model for a massage college and Baudy Academy.
18:08
Speaker 4: So I got a free one hour remedial massage, a
18:11
Speaker 4: free full skin consult and my deermer planing done.
18:14
Speaker 2: Excuse me, delicious, I know, all for free.
18:17
Speaker 4: That's a huge money win. Next, I've got two Bunnings
18:20
Speaker 4: themed I grouped them together, so one funny I really do,
18:24
Speaker 4: don't we One from Kayler, who said money When she
18:26
Speaker 4: returned leftover items they'd purchased for their renos back to Bunnings.
18:30
Speaker 4: They got a refund for four hundred and ninety seven
18:32
Speaker 4: dollars great, which was a win because they'd just been
18:34
Speaker 4: sitting in the shed. Good one for anyone who does
18:36
Speaker 4: undertake renovations. You can return things to Bunnings. True, tue,
18:39
Speaker 4: I think is fantastic because people tend to overbuy, not
18:42
Speaker 4: use at all.
18:43
Speaker 2: Take it back.
18:44
Speaker 4: And then Rhianna said money win free kids activities at Bunnings.
18:47
Speaker 4: This week it was making a mini garden.
18:49
Speaker 2: And gosh, I saw that, and I thought it was
18:51
Speaker 2: so sweet. And when I saw that, I then went
18:54
Speaker 2: to Bunnings because you guys know that I had been
18:56
Speaker 2: working on Harvey's like little golf cart thing that I've
18:59
Speaker 2: been building, and I saw them doing that at a
19:02
Speaker 2: different It was clearly different Bunnies, but I was like,
19:04
Speaker 2: Oh my gosh, that must be the free kids' activities.
19:06
Speaker 2: And then I resolved in my head that when Pavey's
19:09
Speaker 2: old enough, he can go to those things because it
19:10
Speaker 2: looked so wholesome.
19:11
Speaker 4: Yeah, I think they do them every week or every month,
19:14
Speaker 4: I'm not sure, but they run like on their website, Yeah,
19:16
Speaker 4: it'll be on their website. They run a different activity
19:18
Speaker 4: which is just really cute and a great free activity if.
19:20
Speaker 2: You look a weekend. And also, to add to that
19:23
Speaker 2: sorry side note, lots of council websites have a section
19:26
Speaker 2: of like free kids activities or things going on at
19:29
Speaker 2: the library or in the local community, and that is
19:32
Speaker 2: a great way to engage your kids for literally zero
19:34
Speaker 2: dollars one hundred percent.
19:37
Speaker 4: And then lastly, this week, I've got a money in
19:39
Speaker 4: from Ruth who said, if you're planning on getting takeaway
19:41
Speaker 4: for dinner, order it at lunchtime instead, so you can
19:44
Speaker 4: take advantage of the lunch deals that places off and.
19:46
Speaker 2: Run dinner time.
19:48
Speaker 4: Yes, great idea, she said. He hubby gave her the idea,
19:51
Speaker 4: So shout out to Ruth Hubby. I think that's genius.
19:53
Speaker 2: Oh my gosh, I love that I actually reviewed our budget.
19:57
Speaker 2: It had been a while. I reviewed our budget recently
20:00
Speaker 2: and realized just how many times. And I disclaimer, I
20:04
Speaker 2: don't regret it because I had a baby and I
20:07
Speaker 2: was reaching for the Uber Eats a little bit more
20:09
Speaker 2: than I regularly would. But I realized that Steve and
20:12
Speaker 2: I were ordering way too much Uber Eats, and I've
20:15
Speaker 2: bought a few meals to keep in the pantry slash freezer,
20:18
Speaker 2: so like real quick ones. We're not talking about like,
20:21
Speaker 2: you know, fancy meals which we're planning, but like some
20:24
Speaker 2: frozen beg a sturfry kit and some noodles. Because I
20:28
Speaker 2: realized the amount of times I order sturfry and like
20:30
Speaker 2: noodles and like rice based dishes. I'm like, Victoria, divine
20:35
Speaker 2: rice is so easy to cook. So I've got those
20:39
Speaker 2: in the freezer and I thought, yeah, this maybe adhd
20:42
Speaker 2: short lived, wasn't the other day, I went, I can't
20:45
Speaker 2: be bothered Steve, and he said, don't we have that
20:46
Speaker 2: surfry mix? And I was like, we do, And then
20:49
Speaker 2: I made sturfry in like fifteen minutes and I was like,
20:51
Speaker 2: I'm basically a budgeting coin. Well done.
20:53
Speaker 4: I love a frozen dumpling for that reason. Oh yeah,
20:56
Speaker 4: like just a big bag that costs you like ten dollars.
20:58
Speaker 2: Get them when they're in sale as well. Wait till
21:01
Speaker 2: the frozen dumbling's gone. Sal that some like frozen at
21:04
Speaker 2: a marmaie some rice. You've got a perfect me. Oh
21:08
Speaker 2: my god, that sounds so good. I love it. Miss
21:09
Speaker 2: Beck's I ed, what do you bring into the table
21:11
Speaker 2: when it comes to broke tips this week? So this
21:14
Speaker 2: first one comes from Rose, who was actually a money diarist.
21:17
Speaker 2: Oh we love.
21:18
Speaker 3: This is comedy related ahead of the Comedy Festival. So
21:21
Speaker 3: there's a website you can go to if you're wanting
21:23
Speaker 3: to see shows basically free. You can sign up for
21:26
Speaker 3: a free membership at promo tics and basically you paid
21:29
Speaker 3: two dollars ninety five per transaction to book tickets on
21:32
Speaker 3: the show. Say, you can book multiple tickets at once
21:35
Speaker 3: if you're going to the show as a couple or
21:37
Speaker 3: as a group. Often a show will only put a
21:39
Speaker 3: few tickets up, so it's first in best dressed. But
21:42
Speaker 3: you'd be surprised how fancy the shows are on there
21:45
Speaker 3: sometimes if you keep an eye out. So promo tics
21:47
Speaker 3: dot com doctor you was the website, so sign up
21:50
Speaker 3: and I feel like this is great to know because
21:52
Speaker 3: I did not know this existed, and so every single year.
21:54
Speaker 2: I'm like, I'm so excited.
21:55
Speaker 3: Wait a second, I can't afford anything, so I am
21:59
Speaker 3: very happy that this exist.
22:00
Speaker 1: Well.
22:00
Speaker 2: The other tip I would say to add to that
22:02
Speaker 2: is follow comedians on social media because even though the
22:06
Speaker 2: comedy festival is coming up, it is usually a little
22:09
Speaker 2: bit more expensive. Because we spoke to a comedian on
22:13
Speaker 2: Money Diaries and she was talking about how you know,
22:16
Speaker 2: to put on a show, it costs X and you
22:18
Speaker 2: have to sell tickets for a minimum of WY. During
22:21
Speaker 2: the comedy festival there's limited venues and whatnot, but there
22:23
Speaker 2: are shows going on year round, and if you follow
22:26
Speaker 2: them on social media, comedians are going to post, oh
22:29
Speaker 2: I'm at this pub or I'm at this place, and
22:31
Speaker 2: the tickets are usually way cheaper, so you can see
22:34
Speaker 2: your favorite comedians year round, and I promise you they're
22:36
Speaker 2: going to really appreciate the support that they're getting out
22:40
Speaker 2: side of just the most popular week of the year.
22:42
Speaker 3: That is so true, actually, and that's something I do
22:45
Speaker 3: want to mention. I don't want to say that the
22:47
Speaker 3: tickets are not worth it, because so much work goes
22:49
Speaker 3: into this. I have a comedian friend who says that
22:52
Speaker 3: it's not just like leading up to the show you
22:55
Speaker 3: kind of prepare, It's like all year round, all you're
22:57
Speaker 3: doing constantly is preparing for the show, looking for content,
23:00
Speaker 3: thinking of content. I'm like, God, that would be so exhausting.
23:03
Speaker 2: So imagine having to think of content every week. What
23:09
Speaker 2: else if you don't do that.
23:10
Speaker 3: Right, I would never This next one comes from actually
23:14
Speaker 3: a friend who invited me and my partner Jests to
23:18
Speaker 3: Geelong on the weekend and she took us to this
23:20
Speaker 3: place called feed Me and there's I think there's two
23:22
Speaker 3: of these places in Geelong or like in that area.
23:24
Speaker 3: And basically, have you guys heard of the lentils as anything? Yes,
23:28
Speaker 3: So I don't think we have that anymore.
23:32
Speaker 2: No, I don't think we do.
23:33
Speaker 3: But content sad, It is really sad for context for
23:36
Speaker 3: anyone who's because I didn't about until I moved to Melbourne.
23:39
Speaker 3: But it's you kind of like pay what you feel
23:41
Speaker 3: the workers of volunteers and things like that, so they
23:43
Speaker 3: can pay you can afford. And so we went to
23:46
Speaker 3: this place called feed Me and they only open once
23:49
Speaker 3: a week I believe, on a Friday, and they have
23:52
Speaker 3: all their food donated and you can go in I
23:55
Speaker 3: believe on weekends is open but only like the market.
23:59
Speaker 3: So the mar it is like fruit and vegetables. You
24:01
Speaker 3: can go in literally fill a bag, you can walk out,
24:05
Speaker 3: and if you can't afford it, you don't have to pay.
24:08
Speaker 3: If you can afford, you just pay what you feel
24:10
Speaker 3: or what you've taken whatever.
24:12
Speaker 2: It's like.
24:12
Speaker 3: It's very you know for people who are just like struggling,
24:15
Speaker 3: and it's really can you imagine how kind I don't
24:18
Speaker 3: know the people that run that, but can you just
24:20
Speaker 3: imagine how kind those people are? I know, Bisness and
24:24
Speaker 3: so on Fridays when they open for dinner, that is
24:27
Speaker 3: also a pay as you feel, or pay what you
24:28
Speaker 3: can afford the situation, which is just so so cool,
24:33
Speaker 3: and they have like a menu. The food's really good.
24:35
Speaker 3: There are volunteers at work there. The food's donated. I
24:38
Speaker 3: think they pay the chef so that you know, the
24:40
Speaker 3: food quality is good.
24:41
Speaker 2: That's a good idea. And there's an investment absolutely like
24:45
Speaker 2: volunteer chef, where do you get his experience? And then
24:48
Speaker 2: they go, oh, she she just came in. She just
24:50
Speaker 2: said she was a chef, and we believed her.
24:52
Speaker 1: Yeah.
24:53
Speaker 3: Yeah, but no, I think that's that's really great if
24:56
Speaker 3: you're like in that area anyway, and you are just
24:59
Speaker 3: struggling for you know, buy to buy, for instance, fruit
25:01
Speaker 3: and vegetables can be so expensive. Yeah, So I love
25:05
Speaker 3: that one. And then the next one is obviously from myself.
25:09
Speaker 3: And I know I mentioned this place a couple of
25:11
Speaker 3: weeks ago, but and this is not like by no
25:14
Speaker 3: means I have no affiliation, but in.
25:16
Speaker 2: Fact they want to sponsor you. They can give you
25:18
Speaker 2: what you're doing it for free exactly.
25:21
Speaker 3: But so the I mentioned a gym called Base Attack
25:23
Speaker 3: a few weeks ago, I maybe it was a couple
25:25
Speaker 3: of weeks ago, And I just learned that they also
25:28
Speaker 3: have a similar system for people who can't actually afford
25:32
Speaker 3: to train, like.
25:32
Speaker 2: Some of you can't member.
25:34
Speaker 3: So cool.
25:34
Speaker 2: I've never heard of that, I know, Well, it's I
25:36
Speaker 2: should mention this.
25:37
Speaker 3: It's not like all week round, but on Fridays at
25:39
Speaker 3: five pm their class is a pay as you feel
25:41
Speaker 3: or pay where you can afford, which is incredible because
25:44
Speaker 3: I feel like a lot of these gym classes are
25:46
Speaker 3: like thirty five dollars for one session or like seven
25:49
Speaker 3: thousand dollars per week. So if you can't afford it,
25:52
Speaker 3: you can't. You know, you just want to get your
25:54
Speaker 3: your session in Friday five pm. I'm not sure if
25:56
Speaker 3: they've started yet, but that's the plan moving forward. How
25:59
Speaker 3: cool which I thought was just so gorgeous, so basicak
26:02
Speaker 3: in Brunswick.
26:03
Speaker 2: If you live around there, there might be other ones
26:05
Speaker 2: around that are similar or hopefully other gyms are inspired
26:09
Speaker 2: by that, sh you would hope. So because we need it,
26:13
Speaker 2: I love that. All right, Well with that, let's go
26:16
Speaker 2: to a really short break on the flip side. We're
26:18
Speaker 2: going to be talking about getting declined when you're applying
26:21
Speaker 2: for a credit card, and we're also going to be
26:23
Speaker 2: chatting whether you should hide your financial glow up from
26:26
Speaker 2: your friends, so guys don't go anywhere. Welcome back, everybody.
26:34
Speaker 4: Let's take a listen to this week's money dilemma.
26:39
Speaker 2: Hi, there, have you got a money dilemma you just
26:41
Speaker 2: can't solve. The She's on the Money team is here
26:44
Speaker 2: to help. Every week, we tackle your dilemmas, both big
26:47
Speaker 2: and small, to answer your most burning money, career and
26:50
Speaker 2: life questions. To get involved, simply head to our website
26:53
Speaker 2: and leave us a short voice recording and you might
26:55
Speaker 2: just find yourself on the show. Now, let's take a
26:58
Speaker 2: listen to this week's money dilemma.
27:01
Speaker 5: Here she Is on the Money. I absolutely love the
27:03
Speaker 5: podcast and thanks to you. I started investing in twenty
27:06
Speaker 5: twenty one. I'm in my third year of my PhD now,
27:09
Speaker 5: and I want to know your opinion or any specific
27:11
Speaker 5: tips you might have in regards to getting a loan
27:14
Speaker 5: or a line of credit, when receiving a stipend or
27:16
Speaker 5: what counts as a tax free income which doesn't actually
27:19
Speaker 5: count towards borrowing in the eyes of the bank. I'm
27:22
Speaker 5: very responsible money, partly due to the education I oversee
27:25
Speaker 5: from this podcast, and so I want a point tack.
27:27
Speaker 5: I have applied for a credit card with one of
27:29
Speaker 5: the main banks with only one thousand dollars borrowing limit,
27:32
Speaker 5: and I also have around eighty thousand dollars across my
27:35
Speaker 5: savings in share portfolio. Yet I've been declined twice and
27:38
Speaker 5: I'm very reluctant to apply again because I don't want
27:40
Speaker 5: to damage my credit score. Do you know any banks
27:43
Speaker 5: that would allow someone to get a points owning credit
27:45
Speaker 5: card making around seventy k per annum on a PhD
27:50
Speaker 5: with twenty thousand of that probably being taxable income.
27:54
Speaker 3: While this person sounds like operating at a higher frequency,
27:58
Speaker 3: that is just like would be human like so intelligent PhD.
28:03
Speaker 3: Anyone that mentions those letters even in a sentence and
28:06
Speaker 3: not even together. I'm like you, I go to check
28:09
Speaker 3: out of this because you are so smart anyway, good
28:12
Speaker 3: for you.
28:13
Speaker 4: Yeah, I'm gonna say I got nothing to contribute. Call
28:16
Speaker 4: that one right to vd ah.
28:17
Speaker 2: My goodness. So this is an interesting conversation. There are
28:21
Speaker 2: banks that are not going to recognize scholarship income, PhD
28:26
Speaker 2: income or tax free income because it is one of
28:29
Speaker 2: their risk management plans, like they just have decided to
28:32
Speaker 2: blanket do that. You will find that more often than not,
28:37
Speaker 2: it's the bigger banks that make those decisions, because I
28:39
Speaker 2: would say the bigger the bank, the more vanilla like
28:42
Speaker 2: big banks they have the reputation so they can go okay, cool.
28:47
Speaker 2: We would like to take the cream of the crop,
28:49
Speaker 2: the easy clients, the ones that are the least amount
28:52
Speaker 2: of risk, because obviously the lesser amount of risk that
28:55
Speaker 2: they're taking on, the more attractive they are to shareholders. Backtrack,
29:00
Speaker 2: if I'm going to go buy shares I want to buy,
29:03
Speaker 2: I don't know. Most people buy one of the big
29:04
Speaker 2: four banks. You're all holding them. If you own an ETF,
29:07
Speaker 2: you're all holding them. If you are invested in stobranuation.
29:12
Speaker 2: And that's fine. But one of the reasons why they
29:15
Speaker 2: are so tried, true and tested is because of how
29:17
Speaker 2: vanilla they are, because the mortgages and the loans that
29:20
Speaker 2: they issue are coming back. They're not, you know, taking
29:24
Speaker 2: more risk. Obviously, the further out you get, when you
29:27
Speaker 2: like go to like you know, tier two lenders and
29:30
Speaker 2: to tier two credit unions, you are they're taking more
29:34
Speaker 2: of a risk. And that's probably where I would start looking.
29:38
Speaker 2: So I wouldn't ever submit an application if you're in
29:41
Speaker 2: this situation without picking up the phone and having a chat.
29:44
Speaker 2: So I would call them and say, how do you
29:46
Speaker 2: treat this? Some of them might have declined it because
29:50
Speaker 2: you didn't give enough information on your initial application. It
29:54
Speaker 2: is relatively uncommon if you have a clean credit history
29:58
Speaker 2: for you to have a thousand a credit card rejected
30:01
Speaker 2: because you clearly have a income coming in. So I
30:05
Speaker 2: would actually pick up the phone and ask for some
30:07
Speaker 2: feedback on the first rejected ones, like why it might
30:10
Speaker 2: be as simple as we don't accept PhD income as
30:14
Speaker 2: a reliable source of income and that really sucks, I
30:17
Speaker 2: get it. The second thing you could do is chat
30:20
Speaker 2: to a mortgage broker or somebody who broke hiss loans
30:23
Speaker 2: and go, well, what does this look like and doing
30:25
Speaker 2: some research online. So I did a quick google just
30:28
Speaker 2: before and there were a number of different institutions and
30:31
Speaker 2: banks talking about how they review income because it is
30:36
Speaker 2: actually going to depend on how long your PhD often
30:40
Speaker 2: is for as well, because some people will get a
30:42
Speaker 2: PhD and at the end of this years they will
30:45
Speaker 2: be told it will be reviewed, and other people are
30:48
Speaker 2: given a contract for five years and so might be
30:51
Speaker 2: seen as more stable. Exactly. So banks wants stability, how
30:55
Speaker 2: do we prove that to them? And what does that
30:57
Speaker 2: potentially look like? But honestly, the most thing I do
31:00
Speaker 2: is pick up the phone you are correct, I wouldn't
31:02
Speaker 2: just keep submitting applications and hoping. In fact, before even
31:06
Speaker 2: submitting an application, I'd pick up the phone to the
31:08
Speaker 2: new lending place and say, hey, what do I need
31:10
Speaker 2: to do? How's this going to work? And then the
31:12
Speaker 2: other thing I would do is make sure that I
31:15
Speaker 2: am checking my own credit history. Are you sure that
31:19
Speaker 2: the reason you haven't been rejected is because you had
31:23
Speaker 2: bad credit? And I'm not saying that you did this yourself.
31:26
Speaker 2: There could be something dodgy on there. Go to You know,
31:29
Speaker 2: lots of people in our community use Equifax. It's free,
31:32
Speaker 2: download your credit report, have a look at it, check
31:34
Speaker 2: out what's on there, see why it might have been
31:36
Speaker 2: rejected because it might not actually have anything to do
31:39
Speaker 2: with your income and everything to do with the fact
31:41
Speaker 2: that there's like four default loans that some scammer has
31:44
Speaker 2: put on there. And I don't want to scare you,
31:45
Speaker 2: but like, let's start all our eyes and cross all
31:47
Speaker 2: our t's and check that. Then make a few calls
31:50
Speaker 2: and have a chat, and then if you can't get
31:52
Speaker 2: it across the line, talk to a mortgage broker about
31:54
Speaker 2: what they know about potentially getting loans. But I can
31:59
Speaker 2: confidently say that through my business is all the money
32:02
Speaker 2: we have gotten mortgages for people who are receiving PhD
32:05
Speaker 2: income as their sole income. And obviously it requires a
32:10
Speaker 2: little bit of negotiation, handing over some contracts and working
32:13
Speaker 2: out what's going on. It's not like super vanilla to do,
32:15
Speaker 2: but like it is possible. But that doesn't mean that
32:19
Speaker 2: it's going to work for absolutely everyone, because everyone's situation
32:21
Speaker 2: is personal.
32:23
Speaker 4: Do you have to research people?
32:25
Speaker 2: Yeah, I'm sorry, I couldn't be Yoh, oh my god.
32:28
Speaker 2: That reminds me of that TikTok video about the corn.
32:31
Speaker 5: It's God the deuce, It's God the juice.
32:34
Speaker 2: I haven't heard that years. Oh my gosh. I did
32:36
Speaker 2: one about Lucy when she was younger, but it was Yeah,
32:40
Speaker 2: I'm very posted because it's just funny. It was like
32:43
Speaker 2: it made sense because juice loose, like it makes sense.
32:48
Speaker 2: It was about how much she loved her dad. Really,
32:51
Speaker 2: would you like to hear the DM of the week? Yes,
32:54
Speaker 2: all right, Hi, she's on the money. I have a
32:56
Speaker 2: money dilemma for you. My husband and I own our
32:59
Speaker 2: own business and thanks to a lot of blood, sweat
33:02
Speaker 2: and tears in the past twelve months, we are now
33:04
Speaker 2: making some serious money, so much so we have nearly
33:08
Speaker 2: paid off our one million dollar mortgage. What I'm struggling
33:12
Speaker 2: with is how this is impacting my friendships. I have
33:15
Speaker 2: always been super transparent about money with my friends. We've
33:18
Speaker 2: shared salaries, mortgage amounts, interest rates, etc. However, now I'm
33:23
Speaker 2: feeling super awkward about it, like I'm rubbing our financial
33:26
Speaker 2: wins in their faces while they are still working towards independence.
33:30
Speaker 2: The way we were two years ago, I now feel
33:33
Speaker 2: awkward about sharing the way I used to, and almost
33:36
Speaker 2: like I'm being evasive as I don't want to rub
33:39
Speaker 2: it in anymore. How do you handle financial transparency with
33:42
Speaker 2: friends when one of you is significantly better off? Help?
33:46
Speaker 2: I really don't want to lose my friends.
33:48
Speaker 3: Oh, first of all, well done, that's.
33:52
Speaker 2: So cool, congratulations, that's huge. But I think the thing is,
33:57
Speaker 2: and this is like I've been this person before and
34:01
Speaker 2: where you've been like super rich, and you just how
34:05
Speaker 2: to deal with it.
34:06
Speaker 3: I don't know how to tell people sometimes I've been
34:08
Speaker 3: the friend and maybe perpetually will be the friend that's like, no,
34:13
Speaker 3: you're not, because that's true. If anything, yes, bullying yes
34:18
Speaker 3: to invest exactly it's not even bullying yet.
34:23
Speaker 2: Watch out true.
34:25
Speaker 3: I think bullying is the only thing that's going to
34:26
Speaker 3: take for me to change my way. If you could,
34:30
Speaker 3: that would be lovely. But no, I think the thing
34:33
Speaker 3: is and this is not like a blanket thing. This
34:36
Speaker 3: is just I'm literally talking about myself, and so I
34:39
Speaker 3: can only assume that maybe your friends kind of might
34:42
Speaker 3: feel similar. When there is a friend or something that
34:45
Speaker 3: you're close to, you can see they're doing really well,
34:48
Speaker 3: and you feel a little bit like you feel a
34:50
Speaker 3: pang in your belly, or like you feel a little
34:52
Speaker 3: bit anger or jealousy or something, and you don't really
34:55
Speaker 3: even know where it's coming from. You know, it's irrational,
34:57
Speaker 3: that feeling. It's just just so it happens that you're
35:00
Speaker 3: there and you're talking about your situation and the person
35:02
Speaker 3: who is struggling it feels like every day, maybe every
35:06
Speaker 3: second of every day, maybe it feels like you're perpetually
35:09
Speaker 3: drowning and you don't know how to get out, and
35:11
Speaker 3: it's like, you know, you just need some help somewhere,
35:14
Speaker 3: but you and you can't say this to your friends,
35:16
Speaker 3: I suppose because you're I guess you'd just be assuming this.
35:18
Speaker 3: But I guess when it comes to myself or if
35:21
Speaker 3: your friends listening to this, your anger is being put
35:26
Speaker 3: in the wrong places, and it's probably should be directed
35:30
Speaker 3: toward maybe your boss who isn't giving you a pay rise,
35:32
Speaker 3: or maybe your maybe the government, or maybe the inflation,
35:36
Speaker 3: or maybe the cost of living. It's all these different things.
35:38
Speaker 3: Maybe it's how you were raised, Maybe it's your parents
35:41
Speaker 3: for not teaching you financial literacy. Maybe it's all of
35:43
Speaker 3: these things, and maybe that's a better place to put that.
35:48
Speaker 3: Not that anger is a helpful thing to feel, but
35:51
Speaker 3: it is completely valid. But I would say in this situation,
35:56
Speaker 3: I guess the only thing you can do if it
35:58
Speaker 3: comes up, if it's quite obvious, if there is room
36:00
Speaker 3: or space to talk about it, just acknowledging that everyone's
36:05
Speaker 3: on a different journey and financial struggles are all consuming
36:12
Speaker 3: and visceral and genuinely could be the reason why someone
36:18
Speaker 3: just wants to give up and whatever that looks like.
36:22
Speaker 3: I think, just validating where they're at and letting them
36:25
Speaker 3: know that this is not their fault. And I guess, yeah,
36:30
Speaker 3: just just making people feel seen and acknowledged because your situation,
36:34
Speaker 3: I mean, as you say, blood sweat and tears, baby,
36:37
Speaker 3: that's like very impressive, that should be.
36:40
Speaker 2: Should be celebrated, should be celebrated.
36:42
Speaker 3: So yeah, I would just say acknowledging their struggles if
36:46
Speaker 3: they're I'm just assuming their struggles. And then you know,
36:50
Speaker 3: talking about you're allowed to celebrate it yourself is all
36:53
Speaker 3: I'm saying.
36:54
Speaker 2: I'm not gonna lie. I feel like this is a
36:56
Speaker 2: them problem more than a friend's problem. Like good friends
37:00
Speaker 2: are going to be so proud of you. Good friends
37:02
Speaker 2: are going to, you know, be like, oh my god,
37:04
Speaker 2: you work so hard for this, Jess, you did this,
37:07
Speaker 2: Like I'm so proud of you. And even though you
37:09
Speaker 2: have more money, that doesn't mean that interest rates aren't
37:13
Speaker 2: still interesting, mortgage rates aren't still interesting talking about salary
37:17
Speaker 2: with your friends. I feel like if you start to
37:20
Speaker 2: pull back, they might start to feel that and sometimes
37:24
Speaker 2: that can be misappropriated as you thinking that you are
37:29
Speaker 2: now better than them and don't need to have these conversations,
37:32
Speaker 2: or that you know you're too sorry I can't relate anymore.
37:36
Speaker 2: Like I think it's it's a dynamic that you know,
37:40
Speaker 2: I've historically struggled with a little bit because I know
37:43
Speaker 2: that I have a higher income than a lot of
37:45
Speaker 2: you know, even just people in my team like and
37:48
Speaker 2: that has made me feel uncomfortable. But at the end
37:50
Speaker 2: of the day, arising tide, lifts of ships and like,
37:53
Speaker 2: I will give you every tip, every trick. I will
37:56
Speaker 2: show you what I've done in my business if you
37:58
Speaker 2: want to do a business too, like I'll be the
38:00
Speaker 2: first to put my hand up and be like, okay, cool.
38:02
Speaker 2: So Jess, you're starting, what's this look like? How does
38:04
Speaker 2: this work?
38:05
Speaker 5: Like?
38:05
Speaker 2: Jess has a side hustle, And I'm like, oh, can
38:07
Speaker 2: you fix this on your invoicing because it will work better?
38:10
Speaker 2: And you know this will help you do this. And
38:12
Speaker 2: you know, if we're talking about negotiating with clients or whatever,
38:16
Speaker 2: the reality is it doesn't matter how much we're bringing in,
38:20
Speaker 2: whether I'm earning a dollar or ten thousand dollars, like,
38:23
Speaker 2: negotiating with the client's universal experience for business owners. And
38:26
Speaker 2: I know that there will be a disconnect between people
38:29
Speaker 2: who run a business and people who are payg employees.
38:34
Speaker 2: And I'm not saying that that doesn't mean that you
38:36
Speaker 2: won't get along, but you will find that as time
38:39
Speaker 2: goes on, there are things that your friends aren't going
38:41
Speaker 2: to relate to, but you can still have those day
38:44
Speaker 2: to day conversations about money, and if they're uncomfortable with it,
38:48
Speaker 2: you can address it then. But I think that perhaps
38:50
Speaker 2: there's a lot of assumption going on around you going
38:53
Speaker 2: I think it'll make them uncomfortable. I think people won't
38:56
Speaker 2: want to know. I think that, you know, because we've
38:58
Speaker 2: nearly paid off our mortgage, it's going to make my
39:00
Speaker 2: friends uncomfortable. I should stop being transparent. Can you imagine
39:04
Speaker 2: if I stopped being transparent about something, you'd be like,
39:08
Speaker 2: what's up with her?
39:09
Speaker 5: Like?
39:09
Speaker 2: Is she all right? Like business has changed her, money
39:12
Speaker 2: has changed her? Like I don't want to be that person. Yeah,
39:15
Speaker 2: I still want to talk about the cost of Easter eggs?
39:18
Speaker 2: Can I afford an Easter egg? Let's be honest, Yes,
39:20
Speaker 2: But it doesn't mean that it's not ridiculous, like, and
39:24
Speaker 2: I think that that is a universal experience and money
39:27
Speaker 2: needs to be talked about, the good, the bad, the ugly,
39:29
Speaker 2: the positive, the negative. Like and I think that it's
39:32
Speaker 2: an inspirational story if you've gone from you know, struggling
39:36
Speaker 2: with your friends to being like, oh my god, I'm
39:38
Speaker 2: not doing that anymore. Like, but let's not forget our roots.
39:41
Speaker 2: Let's not forget where we came from, because like that's
39:44
Speaker 2: important too.
39:45
Speaker 4: Yeah, I think that you're totally right your friends, especially
39:48
Speaker 4: if they've seen you from start to end. In theory,
39:52
Speaker 4: you want the best for them. But I think to
39:54
Speaker 4: the point that you made back, it's not always as
39:57
Speaker 4: simple as going, oh, I'm so proud of my friends. Like,
40:00
Speaker 4: I think that jealousy, I think the resentment. I think
40:03
Speaker 4: even just like a wishfulness, like looking at someone who's
40:07
Speaker 4: done well, is a natural human emotion, and I do
40:11
Speaker 4: think it's like a really great thing that you're being
40:13
Speaker 4: considerate of their feelings because I think, particularly like if
40:17
Speaker 4: your friend was going, oh my god, like, I don't
40:19
Speaker 4: know how I'm going to pay rent this month. I
40:21
Speaker 4: can't put groceries on my table this month, and then
40:23
Speaker 4: you say, oh my god, we're going to upgrade to
40:26
Speaker 4: our you know, our one million dollar home. We're going
40:28
Speaker 4: to get a two million dollar home.
40:29
Speaker 2: Read the room, you know imagine. I think, well, that's
40:32
Speaker 2: exactly what I mean.
40:32
Speaker 4: Though, I think that having a bit of conscientiousness for
40:36
Speaker 4: where they're at is a really good thing. I think
40:38
Speaker 4: it's positive that you're feeling that way and being aware
40:41
Speaker 4: of it. But exactly as VD said, I think that
40:43
Speaker 4: pulling away or shutting off those conversations completely is probably
40:46
Speaker 4: going to make them feel more isolated, more segregated from you.
40:50
Speaker 4: So I think still having the conversations, but approaching them
40:54
Speaker 4: with consideration, with mindfulness, with empathy for whatever they're experiencing.
40:59
Speaker 4: Exactly you said temperature checking the room like being aware
41:02
Speaker 4: of what we're saying, making sure that we're not putting
41:05
Speaker 4: our foot in our mouth or inadvertently making someone feel
41:08
Speaker 4: bad about their situation. Because you've worked really hard and
41:11
Speaker 4: you've achieved a lot, and that deserves to be celebrated.
41:14
Speaker 4: But at the same time, if people are really struggling,
41:17
Speaker 4: it can be hard for them to appreciate it to
41:19
Speaker 4: the fullest extents. I think a bit of a balancing
41:22
Speaker 4: act on both sides. But if you and your friends
41:26
Speaker 4: are all open and honest with each other, I think
41:28
Speaker 4: that that will have the best impact. Could it be
41:32
Speaker 4: communication is key?
41:35
Speaker 2: Really? I also think it's a lot about Yeah, back
41:37
Speaker 2: to what you were saying, Jess, read the room. Make
41:40
Speaker 2: sure that you are considering their thoughts and feelings, and
41:44
Speaker 2: even though you're super proud of what you're doing, I
41:47
Speaker 2: know that it's new and it's fresh. You don't need
41:49
Speaker 2: to talk about it all the time, like what did
41:51
Speaker 2: you used to talk about? Let's, you know, check ourselves
41:55
Speaker 2: a little bit. Are we turning up to brunch and
41:56
Speaker 2: being like, oh my god, I can't believe what we
41:58
Speaker 2: did this week? It's always about you. But then again,
42:01
Speaker 2: that's just effective communication in itself. We asked the community.
42:05
Speaker 2: We said, if your friends suddenly became rich, would it
42:08
Speaker 2: change your relationship? Five percent said yep, it'd feel weird,
42:12
Speaker 2: forty percent said maybe, depends on them and how they
42:15
Speaker 2: deal with it. Fifty five percent said not with real friends.
42:18
Speaker 1: No.
42:19
Speaker 2: We asked should financial success be celebrated in friendships like
42:22
Speaker 2: every other achievement. Seventy percent said yep, share the success,
42:26
Speaker 2: twenty eight percent said only if done humbly, and two
42:29
Speaker 2: percent said no, I feel like it's bragging. So I
42:32
Speaker 2: feel like that again can be taken with a grain
42:37
Speaker 2: of salt, but good. I mean, most people don't feel
42:39
Speaker 2: like it's bragging. Most people want to celebrate your success,
42:42
Speaker 2: but there is always going to be someone who sees
42:44
Speaker 2: it differently, and that is so fine. We then went
42:46
Speaker 2: to the community and said, baby, what is your two cents?
42:50
Speaker 2: One person said, if you can only share and bond
42:53
Speaker 2: during hardship, are they really two friends? Another person said,
42:56
Speaker 2: don't share your private financials with anyone, people are jealous.
43:00
Speaker 2: I disagree with that. I think it's a whole podcast
43:03
Speaker 2: is about sharing your financial Yeah, I think it's a
43:05
Speaker 2: really positive thing. I think it is a positive thing.
43:08
Speaker 2: And if you're feeling uncomfortable about that, I think it's
43:11
Speaker 2: a beautiful point in time to be able to reflect
43:14
Speaker 2: about why you feel uncomfortable about that. Because at the
43:17
Speaker 2: end of the day, as much as I care so
43:20
Speaker 2: much about my community, and I'll give you every single
43:23
Speaker 2: tool and resource under the sun, and if I don't
43:25
Speaker 2: have it and you need it, I will try and
43:27
Speaker 2: build it like I will give you everything, But I
43:30
Speaker 2: am not responsible for your emotions. Like at the end
43:34
Speaker 2: of the day, I am not the one that is
43:35
Speaker 2: responsible for that. You actually need to take responsibility for that.
43:39
Speaker 2: And if you can identify I feel envious, or I
43:41
Speaker 2: feel less than or I feel this, or even I
43:44
Speaker 2: feel excited, that needs to be communicated because there's going
43:47
Speaker 2: to be a tool for that to help you through that.
43:49
Speaker 2: If it's something you're struggling with and I think there's
43:52
Speaker 2: nothing more liberating than being like, oh, and I've done
43:55
Speaker 2: this before, Jess know this. I feel like just I
43:57
Speaker 2: think I'm jealous of her, like I'm a little envy.
44:00
Speaker 2: Jess goes, I see that. Let's talk it through. Why
44:04
Speaker 2: what is she achieving? How is she doing it? Like?
44:06
Speaker 2: What could you do? And I go, Actually, this has
44:08
Speaker 2: been a really empowering conversation. I just I wish I
44:11
Speaker 2: was more like that, Like I wish I had her
44:13
Speaker 2: motivation or a dedication or whatever it is. And I
44:16
Speaker 2: think it's just it's so nice to speak about those
44:18
Speaker 2: things in a trusted position and like in a trusted
44:21
Speaker 2: friendship that I can go Jess, I'm a little bit
44:24
Speaker 2: Why am I jealous about this? And she goes, oh
44:26
Speaker 2: my gosh, I know. And then you go, oh, I
44:27
Speaker 2: don't feel this is so bad about that? Like that's better.
44:30
Speaker 2: Someone else said this happened to me to poppy syndrome
44:33
Speaker 2: is real even when they are humble about it. Another
44:36
Speaker 2: person said, if you're uncomfortable, let them ask questions rather
44:39
Speaker 2: than you offering info that they didn't ask for. Its
44:44
Speaker 2: great take, And last one said I get where she's
44:48
Speaker 2: coming from, but as V does share with humility and
44:50
Speaker 2: acknowledge that hard work takes hard work. So I'll leave
44:54
Speaker 2: it there because we are running out of time today. Guys,
44:57
Speaker 2: we've had a good yap. I have adored this. But
45:00
Speaker 2: with that, my friends, I hope you have a really
45:02
Speaker 2: good weekend and we'll see you right early on Monday
45:05
Speaker 2: for a money diary. Bye, guys. By The advice shared
45:15
Speaker 2: on She's on the Money is general in nature and
45:17
Speaker 2: does not consider your individual circumstances. She's on the Money
45:21
Speaker 2: exists purely for educational purposes and should not be relied
45:24
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45:28
Speaker 2: do choose to buy a financial product, read the PDS
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