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Transcript

Introducing...Bec Syed! · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
• 0:04
  Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
• 0:08
  Speaker 1: we get started on She's on the Money podcast, I
• 0:11
  Speaker 1: would like to acknowledge the traditional custodians of the land
• 0:14
  Speaker 1: of which this podcast is recorded on a wondery country,
• 0:18
  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
• 0:22
  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 1: and the storytelling of you to make a difference for
• 0:30
  Speaker 1: today and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it.
• 0:34
  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 4: Hello, and welcome to She's on the Money, the podcast
• 1:00
  Speaker 4: for millennials who want financial freedom. Today is Friday, which
• 1:04
  Speaker 4: means it is time to get the team together and
• 1:06
  Speaker 4: celebrate you our incredible She's on the Money community. And
• 1:10
  Speaker 4: before we get there, we're just letting you know one,
• 1:13
  Speaker 4: welcome to twenty twenty three whew. But two, we're shaking
• 1:17
  Speaker 4: up the format of our Friday episodes to make them
• 1:20
  Speaker 4: more engaging and wait wait, more juicier. So today, not
• 1:23
  Speaker 4: only will we be sharing our favorite money wins, which
• 1:26
  Speaker 4: just does as always we were never going to cut
• 1:28
  Speaker 4: that part out. We'll be helping to answer a juicy
• 1:30
  Speaker 4: money question, which this week is all about superannuation, but
• 1:34
  Speaker 4: we are also going to unpack a spicy money dilemma
• 1:37
  Speaker 4: one of our community members has had recently about sharing
• 1:40
  Speaker 4: money and sharing an emergency fund with her partner.
• 1:44
  Speaker 2: So we'll get to all of that.
• 1:45
  Speaker 4: But before we get there, miss jessic RICI, welcome back.
• 1:49
  Speaker 4: I'm so excited that we're here doing more pods.
• 1:52
  Speaker 5: Oh my gosh, happy news here everybody.
• 1:55
  Speaker 4: My gosh, she knew. Who's that? Who's that? Who were
• 1:59
  Speaker 4: we you? Oh?
• 2:01
  Speaker 2: Sorry, I just I snuck in here.
• 2:03
  Speaker 6: My name is Beck, sired and I believe I am
• 2:06
  Speaker 6: joining your team this year.
• 2:07
  Speaker 5: I don't know.
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  Speaker 4: She made it obvious before. She hasn't signed anything, and
• 2:13
  Speaker 4: I was like, oh, it's probably good for both of us, sir,
• 2:16
  Speaker 4: so not bad, not bad.
• 2:17
  Speaker 2: But this is a decider this episode right here.
• 2:19
  Speaker 4: Yeah. If Jess doesn't agree, we'll have to talk after
• 2:22
  Speaker 4: the show. So perform. Well, Beck, welcome to the show.
• 2:26
  Speaker 6: Thank you so much. It's really nice to be here
• 2:28
  Speaker 6: with you both.
• 2:29
  Speaker 4: Oh my gosh. Beck. Obviously the community knows Jess because
• 2:33
  Speaker 4: Jesse is our dy money queen. Also, they know me,
• 2:36
  Speaker 4: but they don't know you. Can you do like a
• 2:37
  Speaker 4: little introduction, like we're going around in circles and you're
• 2:40
  Speaker 4: put on the spot and have to be like, oh, hi,
• 2:42
  Speaker 4: my name's Beck, and these are my hobbies and these
• 2:44
  Speaker 4: are my interests and this is what I do for work,
• 2:45
  Speaker 4: Like ready, set go, okay, wow, pressures on.
• 2:48
  Speaker 6: This is the you know when you start like a
• 2:50
  Speaker 6: new job or something, and they ask you these Honest,
• 2:54
  Speaker 6: I'm not prepared and I but I was going to
• 2:57
  Speaker 6: say that I really really hate these kind of questions.
• 3:02
  Speaker 4: That's why we're asking you, not vice versa. That's why
• 3:04
  Speaker 4: volunteer Jess or I to answer first. I'm going to
• 3:07
  Speaker 4: do a surprise one on both of you. Are okay,
• 3:09
  Speaker 4: but no, just kidding, I won't.
• 3:10
  Speaker 2: But my name's Beck.
• 3:11
  Speaker 6: Of course, as you guys know, and hopefully everyone listening
• 3:14
  Speaker 6: now knows, I've worked.
• 3:16
  Speaker 2: With you guys, but behind the scenes about.
• 3:19
  Speaker 4: It about a year I could say, Yeah, we were
• 3:24
  Speaker 4: like Beck has big beck energy, we need be on
• 3:26
  Speaker 4: the pod.
• 3:27
  Speaker 2: B BB just kind of crept up on me. And
• 3:31
  Speaker 2: I'm really really stoked about it.
• 3:32
  Speaker 4: Oh, I'm so excited that you love these.
• 3:34
  Speaker 2: I'm so excited.
• 3:36
  Speaker 6: I've done a little bit basically, you know, to give
• 3:38
  Speaker 6: everyone context, I've not done anything in the radio world before,
• 3:43
  Speaker 6: but I've worked basically, I've worked in radio, just not
• 3:46
  Speaker 6: kind of behind the mic, and I've recorded demos with
• 3:49
  Speaker 6: you guys before and all this kind of stuff, So
• 3:51
  Speaker 6: I guess it kind of it makes sense on paper
• 3:53
  Speaker 6: that you get to go here, that.
• 3:55
  Speaker 2: I'm here now, Well, it's just because.
• 3:56
  Speaker 4: You're nice, Like you weren't picked because you worked in radio.
• 4:00
  Speaker 4: I mean when we met, because you worked in radio.
• 4:02
  Speaker 4: But then we're like, that's SOMEVB, that's BBA.
• 4:05
  Speaker 2: Come on the pod.
• 4:07
  Speaker 4: What about your money knowledge? Are you a financial advisor?
• 4:10
  Speaker 4: You mortgage broker? Did you go do maths at university?
• 4:13
  Speaker 5: Like?
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  Speaker 4: Where are we at?
• 4:14
  Speaker 6: Oh no, I don't think you're gonna like this, But
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  Speaker 6: I have no idea what I'm doing financially right now.
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  Speaker 6: I have minus seventeen dollars in my bank account and
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  Speaker 6: I have previously been bankrupt, so I guess I'm starting
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  Speaker 6: from scratch.
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  Speaker 4: I love this. When Jess joined that she's on the
• 4:33
  Speaker 4: money team, she was doing very well on her own,
• 4:35
  Speaker 4: so I'm not saying that the circumstances are the same,
• 4:38
  Speaker 4: but I feel like Jess joined him, Like Victoria, I
• 4:40
  Speaker 4: don't know about being on the podcast. I have no idea,
• 4:42
  Speaker 4: And now I basically am redundant on a lot of
• 4:44
  Speaker 4: the podcast because Jess could run it for me, because
• 4:47
  Speaker 4: she's basically smarter than me. Now done, I would because
• 4:52
  Speaker 4: sometimes just would be like, oh, hey, they just want
• 4:54
  Speaker 4: to run this past you because we're doing something for work,
• 4:56
  Speaker 4: and I'll be like, yeah, that's actually much better than
• 4:58
  Speaker 4: what I could have produced. So I'll just see myself
• 5:01
  Speaker 4: at Wow. I have high hopes. But also I'm so
• 5:05
  Speaker 4: so excited to have you on the team, not only
• 5:07
  Speaker 4: because I know the community is going to love you,
• 5:09
  Speaker 4: not only because you don't have a lot of financial
• 5:11
  Speaker 4: knowledge yet, but because I'm just putting myself in the
• 5:14
  Speaker 4: control seat here. I get to be on this journey
• 5:17
  Speaker 4: with you, or we all get to be on this
• 5:19
  Speaker 4: journey with you of educating you and getting your budget
• 5:22
  Speaker 4: up to scratch and like talking about investing and savings
• 5:25
  Speaker 4: and Beck we just recorded in an episode that's going
• 5:27
  Speaker 4: to drop next week about lipstick index and recession, and
• 5:31
  Speaker 4: I think the thing that I loved about your involvement
• 5:34
  Speaker 4: in that episode, was you just being like, what's a recession? Like,
• 5:36
  Speaker 4: I just I don't know where I'm at. And as
• 5:39
  Speaker 4: much as a lot of our shees on the money
• 5:40
  Speaker 4: community has been with us for three years and would go, oh,
• 5:43
  Speaker 4: I know what that is. Our community is always growing
• 5:46
  Speaker 4: and always evolving and there are going to be so
• 5:48
  Speaker 4: many people that are exactly in the same position as
• 5:51
  Speaker 4: you that maybe reset a goal for twenty twenty three
• 5:53
  Speaker 4: to absorb more money. Content would have been thinking that.
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  Speaker 4: So I feel like your job, my friend big Boots,
• 5:59
  Speaker 4: to feel you're the voice of the community. Ah okay,
• 6:03
  Speaker 4: I hope that you do them justice. I hope so, sir,
• 6:06
  Speaker 4: But I know you will because I'm so excited to
• 6:08
  Speaker 4: have you on the team, and I know Jesse's as well. Yes,
• 6:11
  Speaker 4: but Jess g Ricci is your time to shine. We
• 6:15
  Speaker 4: were speaking about the community and Jess spends a lot
• 6:17
  Speaker 4: of time in the community and solving all their money
• 6:19
  Speaker 4: wins and confessions and chatting to them basically every single day. So, Jess,
• 6:23
  Speaker 4: I want a quick whip around, what are your favorite
• 6:26
  Speaker 4: money wins and confessions that you've dragged out of our
• 6:28
  Speaker 4: community from this week?
• 6:30
  Speaker 5: All right, first one comes from our friend Lindsey, and
• 6:32
  Speaker 5: I feel like this is a very timely reminder. At
• 6:34
  Speaker 5: the start of the yar, she says, I finally bit
• 6:36
  Speaker 5: the bullet and reviewed my insurance with the staff discounts
• 6:39
  Speaker 5: I get moving my insurance to where I work. I've
• 6:41
  Speaker 5: saved almost one hundred and sixty dollars a month across
• 6:43
  Speaker 5: our two cars and contents insurance. Is that time of
• 6:46
  Speaker 5: year everyone's renewing, They're coming around. They've probably jacked the
• 6:49
  Speaker 5: prices up. They always do, they always do. Yeah, I
• 6:53
  Speaker 5: was about to say, isn't that what happened to you?
• 6:54
  Speaker 5: And you called them and you just got a discount
• 6:56
  Speaker 5: immediately exactly. And if you need help, there's a script
• 6:58
  Speaker 5: on our website if you're a little don't like being
• 7:01
  Speaker 5: on the phone, can relate, read it word for word
• 7:03
  Speaker 5: and hopefully they'll knock it back down for you.
• 7:05
  Speaker 4: I was talking about this on TikTok the other day
• 7:07
  Speaker 4: because someone said as like a question on one of
• 7:10
  Speaker 4: my videos, like, oh, well, how do I deal with this?
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  Speaker 4: And I think a lot of the time the responses are, oh,
• 7:16
  Speaker 4: just like have big dog energy and just tell them no,
• 7:18
  Speaker 4: Like if you've got to like negotiate something or change something.
• 7:21
  Speaker 4: I'm not like that, like, yeah, exactly. If I have
• 7:24
  Speaker 4: a big conversation to have, or a conversation that I
• 7:27
  Speaker 4: believe is going to be big for me, I actually
• 7:29
  Speaker 4: want a little bit of like a script to follow,
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  Speaker 4: Like if I'm asking for a discount for my insurance
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  Speaker 4: or something, I don't just want to go into it
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  Speaker 4: completely blind and go, oh, well, I just called an
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  Speaker 4: asked for a discount, Like I'm not that girl. I
• 7:39
  Speaker 4: need the script to be like, hey, I just want
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  Speaker 4: to chat about this, like I do know it can
• 7:43
  Speaker 4: be really simple, but just having that in front of
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  Speaker 4: you while you make the call can make you feel
• 7:47
  Speaker 4: so much more empowered, which is why we wrote it,
• 7:49
  Speaker 4: jess And it just puts you back in the control seat.
• 7:51
  Speaker 4: So don't feel bad if you don't have the big
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  Speaker 4: dog energy that everybody else on TikTok seems to have
• 7:55
  Speaker 4: where they just negotiate off the bat like not everyone
• 7:58
  Speaker 4: is like that, no all, and definitely check to see
• 8:01
  Speaker 4: if your premiums went up. Kids next win comes from
• 8:03
  Speaker 4: Jessica great Name, who said I just applied for the
• 8:06
  Speaker 4: new South Wales Creative Kids and Active Kids vouchers. Now
• 8:09
  Speaker 4: I have another child enrolled in school. It's one hundred
• 8:12
  Speaker 4: dollars voucher that you each get, so four hundred dollars
• 8:14
  Speaker 4: in total for two kids that can go towards dance fees.
• 8:17
  Speaker 4: Dances expensive, So that's a massive win. What I didn't
• 8:20
  Speaker 4: even know that existed. Do you know if there's something
• 8:22
  Speaker 4: like in Victoria or in other states that is similar.
• 8:24
  Speaker 5: I don't know off the top of my head, but
• 8:26
  Speaker 5: I would say to people definitely check your local government
• 8:28
  Speaker 5: website because I know that there were things like this
• 8:31
  Speaker 5: when I was a kid. They're trying to encourage active
• 8:33
  Speaker 5: living and you know, kids getting out and doing fun things,
• 8:36
  Speaker 5: which can be super expensive. So have a look at
• 8:38
  Speaker 5: your local state website. And if you're in New South Wales,
• 8:40
  Speaker 5: I would be applying that is.
• 8:42
  Speaker 4: If you've got kids getting on that that sounds a
• 8:44
  Speaker 4: lot like free money to me, and I love.
• 8:46
  Speaker 2: Free love, free money.
• 8:48
  Speaker 5: All next win comes from Lazar, who said I made
• 8:51
  Speaker 5: a resolution to put twenty four hours between my non
• 8:53
  Speaker 5: essential purchases, put two outfits in my basket, waited until
• 8:57
  Speaker 5: the next day, and was rewarded with a twenty percent
• 8:59
  Speaker 5: off sale money.
• 9:00
  Speaker 4: When I feel like that often happens. The other thing
• 9:03
  Speaker 4: that I think happens sometimes is like retail is quite smart, right,
• 9:06
  Speaker 4: so they can see that you put those things in
• 9:09
  Speaker 4: your bas yes, right, and then they're like, oh my gosh,
• 9:11
  Speaker 4: like Beck didn't check out. I wonder what it was.
• 9:14
  Speaker 4: Maybe we need to send you a little carrot to
• 9:16
  Speaker 4: get her to check out. And then they send you
• 9:18
  Speaker 4: like ten or twenty percent off because they're like, oh,
• 9:20
  Speaker 4: did you forget your basket? His little carrot to get
• 9:22
  Speaker 4: you to go through with the sale works every time, exactly.
• 9:26
  Speaker 4: So definitely, leaving twenty four hours between you and making
• 9:29
  Speaker 4: an online purchase not bad. Double that up with your
• 9:31
  Speaker 4: shop back, and we're just basically now making money.
• 9:34
  Speaker 2: Yeah, exactly.
• 9:37
  Speaker 5: Next one I have for you comes from Rhiannon, who says,
• 9:39
  Speaker 5: I made my husband call out bank to see if
• 9:41
  Speaker 5: they could do better with our interest rate on our
• 9:43
  Speaker 5: mortgage and they got it down over one percent. Thank
• 9:46
  Speaker 5: you Kate from Zeala money for the tip.
• 9:47
  Speaker 4: Oh was that actually? Oh? I love that. That's Kate
• 9:50
  Speaker 4: from our team. And do you know what getting your
• 9:53
  Speaker 4: mortgage down one percent in this current economic environment, that's
• 9:56
  Speaker 4: big dog.
• 9:57
  Speaker 5: Energy, Big dog energy.
• 9:58
  Speaker 4: I feel like I need to stop s big dog energy,
• 10:00
  Speaker 4: but like, that's the energy I chose to take into
• 10:02
  Speaker 4: twenty twenty three.
• 10:03
  Speaker 2: I mean, else, who do you explain it?
• 10:05
  Speaker 4: B b E b B BECK energy, Like that's what
• 10:08
  Speaker 4: we want to embrace.
• 10:09
  Speaker 5: Well, my very last win for this week definitely embraces
• 10:12
  Speaker 5: the bd bb E energy. It comes from Peter And
• 10:15
  Speaker 5: she said, my first year debt free since domestic violence.
• 10:18
  Speaker 5: I have over two hundred dollars a week in my
• 10:21
  Speaker 5: pocket now, And I just wanted to say, Peter, I'm
• 10:23
  Speaker 5: so proud and so excited for you. That is freaking incredible, amazing,
• 10:26
  Speaker 5: What a good way to start the r p B
• 10:28
  Speaker 5: E for sure, Oh my gosh, I love that.
• 10:31
  Speaker 4: That is actually such a wholesome way to end the
• 10:33
  Speaker 4: community money wins. As always, I have loved hearing them,
• 10:36
  Speaker 4: and I think in addition to bb we're going to
• 10:38
  Speaker 4: add WWJD. And like I think a lot of people
• 10:41
  Speaker 4: are like, oh, what would Jesus do? No, no enough,
• 10:44
  Speaker 4: what would just would just do? And I feel like
• 10:46
  Speaker 4: that's a good way to live your life. In twenty
• 10:48
  Speaker 4: twenty three.
• 10:49
  Speaker 2: I ask myself that every single time I'm going.
• 10:51
  Speaker 4: To get a bracelets made like everybody is really on
• 10:54
  Speaker 4: top of this. All right, let's go to a quick
• 10:56
  Speaker 4: break and after the break, we're going to be answering
• 10:58
  Speaker 4: your juicy money question about stuperrenuation, and we're also going
• 11:00
  Speaker 4: to be talking about hiding your savings from your partner.
• 11:03
  Speaker 4: Don't go anywhere.
• 11:09
  Speaker 5: Welcome back to our shining New Friday with our shining
• 11:12
  Speaker 5: new team member. I hope you guys are enjoying bb
• 11:15
  Speaker 5: BB for sure.
• 11:17
  Speaker 2: I'm loving this.
• 11:19
  Speaker 1: On me.
• 11:20
  Speaker 4: I love this guys.
• 11:21
  Speaker 5: I think we have a really fun money dilemma to
• 11:23
  Speaker 5: answer today. Should we take a listen?
• 11:25
  Speaker 4: Yes?
• 11:25
  Speaker 2: Please go.
• 11:28
  Speaker 4: Hi there. Have you got a money dilemma you just
• 11:30
  Speaker 4: can't solve? The She's on the Money team is here
• 11:33
  Speaker 4: to help. Every week we tackle your dilemmas, both big
• 11:36
  Speaker 4: and small, to answer your most burning money, career and
• 11:39
  Speaker 4: life questions. To get involved, simply head to our website
• 11:42
  Speaker 4: and leave us a short voice recording and you might
• 11:44
  Speaker 4: just find yourself on the show. Now, let's take a
• 11:47
  Speaker 4: listen to this week's money dilemma.
• 11:50
  Speaker 7: Hey you v and happy near to the She's on
• 11:53
  Speaker 7: the Money fanbam.
• 11:54
  Speaker 5: I love you guys.
• 11:55
  Speaker 7: This is the most amazing community.
• 11:57
  Speaker 2: My name's loan.
• 11:58
  Speaker 7: I recently scored a great opportunity at my work, which
• 12:01
  Speaker 7: equals to more money and some commission. I'm super excited,
• 12:06
  Speaker 7: but it got me thinking. Up until now, all of
• 12:09
  Speaker 7: my super has been going into a retail worker like
• 12:13
  Speaker 7: specific super fun. But now I'm not working in retail anymore.
• 12:17
  Speaker 7: I'm making more money. I'm wondering if this is the
• 12:19
  Speaker 7: best option for me. So my money dilemma is where
• 12:23
  Speaker 7: do I go to find good super advice because I'm
• 12:25
  Speaker 7: super confused. Is this something a financial adviser would be
• 12:29
  Speaker 7: able to help me with? Or where do I go?
• 12:31
  Speaker 7: Thank you so much for helping me out.
• 12:33
  Speaker 5: They loved the little pun she slipped on a mess.
• 12:36
  Speaker 5: I love that.
• 12:37
  Speaker 4: She was like, I love you guys. I'm like, I
• 12:39
  Speaker 4: love you do Lauren? I really sweet? Also, how good
• 12:42
  Speaker 4: is it she got a new job and now she
• 12:44
  Speaker 4: gets commissions. I have so much to say about budgeting
• 12:46
  Speaker 4: and like living on your base salary and then using
• 12:49
  Speaker 4: your commissions to save and invest and create financial freedom.
• 12:51
  Speaker 4: But that wasn't actually what the question was about, yess So, Jess,
• 12:56
  Speaker 4: as I said before, Beck, basically a finance wizard. Where
• 12:58
  Speaker 4: would you start, jess Oh.
• 13:01
  Speaker 5: I feel like, she's definitely right in the looking at
• 13:04
  Speaker 5: the different super options out there is a way to start,
• 13:06
  Speaker 5: because I was the same I started in retail. I
• 13:08
  Speaker 5: remember when you reviewed my super V you were like, oh,
• 13:11
  Speaker 5: who are you with? And I was like blah blah blah,
• 13:12
  Speaker 5: and you were like and I was like what, And
• 13:15
  Speaker 5: You're like, they're not good?
• 13:17
  Speaker 4: But also they weren't good. It's not to say that
• 13:20
  Speaker 4: all fun but I think.
• 13:23
  Speaker 5: A lot of the time potentially they're just kind of
• 13:26
  Speaker 5: going one size fits all, right, And you have thousands,
• 13:29
  Speaker 5: arguably of employees working across the country for a retail company.
• 13:33
  Speaker 5: If you're picking one super fun for all of them,
• 13:35
  Speaker 5: very good chance that it's not going to work for everyone.
• 13:37
  Speaker 5: So I guess the place to type would be the Google.
• 13:40
  Speaker 5: The Google yaht Google seems like a good before I respect,
• 13:45
  Speaker 5: What would you do?
• 13:46
  Speaker 4: What do you do about your super funny?
• 13:48
  Speaker 2: You ask V?
• 13:49
  Speaker 6: Because I actually used to work in super You did
• 13:51
  Speaker 6: not disclose that in your interview.
• 13:53
  Speaker 4: I know when we said earlier on the podcast, like, oh,
• 13:57
  Speaker 4: what do you ring to the table? You financial adviser,
• 14:00
  Speaker 4: You're like, nah, I was broke, and we were like, oh, okay,
• 14:02
  Speaker 4: no worries. Thanks for sharing. Now, Now, Jess, she's like, oh, yeah,
• 14:06
  Speaker 4: actually I used to work in super anyway.
• 14:07
  Speaker 6: Financial advisor. No, I was scared I would be too
• 14:10
  Speaker 6: qualified for this position. Oh I didn't mention it, but no,
• 14:14
  Speaker 6: I used to work in super and I kind of realized,
• 14:16
  Speaker 6: I don't know if everyone else has this as well,
• 14:18
  Speaker 6: but i'd like seven different super accounts a really common
• 14:21
  Speaker 6: really and so like I really didn't know who to
• 14:24
  Speaker 6: go for. But yeah, I just googled it and it
• 14:26
  Speaker 6: was like, you know, you know, you get the I
• 14:28
  Speaker 6: don't know what's it can Star or something. Yeah, yeah,
• 14:30
  Speaker 6: I just like went to the number one. I didn't
• 14:32
  Speaker 6: even check anything. I just thought, that's the number one
• 14:34
  Speaker 6: super company. I'm going to go with that one.
• 14:37
  Speaker 5: And so that essays don't do that.
• 14:40
  Speaker 4: That is actually exactly what we're not going to do.
• 14:44
  Speaker 4: So we're not going to do that. And I'll give
• 14:46
  Speaker 4: you a reason why because I think in your situation,
• 14:49
  Speaker 4: and that makes so much sense, right because cancer that's reputable.
• 14:53
  Speaker 5: Right.
• 14:53
  Speaker 4: They give other companies like awards and stuff for being
• 14:55
  Speaker 4: the best super company, and I would think that that's
• 14:57
  Speaker 4: really good. The thing you want to be aware of
• 14:59
  Speaker 4: and I'm not saying that can Star is bad. Finder
• 15:02
  Speaker 4: is the same, though. The thing that I would want
• 15:04
  Speaker 4: you to know about that is they are actually basically
• 15:07
  Speaker 4: an advertising company. So obviously they do lots of other things,
• 15:10
  Speaker 4: but superannuation companies pay them to appear on the tops
• 15:14
  Speaker 4: of their charts or be in their articles or yeah exactly.
• 15:18
  Speaker 4: So from my perspective, yeah, there might be a fine
• 15:21
  Speaker 4: super company because legitimate super companies they do advertise to
• 15:24
  Speaker 4: get more clients like you, Beck. But what you probably
• 15:27
  Speaker 4: didn't realize is that that quote best super company came
• 15:31
  Speaker 4: up because they were very likely paying for that ad space,
• 15:35
  Speaker 4: and that's what got you. That doesn't necessarily mean that
• 15:38
  Speaker 4: you're in the best position. So I would also go
• 15:41
  Speaker 4: back to what Jess said and use the Google. But
• 15:43
  Speaker 4: what I would be using when it comes to the
• 15:45
  Speaker 4: Google is I would google ATO your super comparison And
• 15:49
  Speaker 4: the reason I would google that is because the ATO
• 15:53
  Speaker 4: last year, the start of twenty twenty two, released your
• 15:56
  Speaker 4: super Comparison tool, and that takes all of the work
• 16:00
  Speaker 4: out of it in terms of is this advertised, is
• 16:03
  Speaker 4: this a paid partnership? You know? All of that stuff
• 16:06
  Speaker 4: is really hard to see through. This is actually a
• 16:08
  Speaker 4: government run website that is going to just enable you
• 16:11
  Speaker 4: to compare apples with apples. When you compare on a
• 16:14
  Speaker 4: platform like Cansterer or Finder, you're not usually comparing apples
• 16:18
  Speaker 4: with apples. You're comparing the features and benefits that company
• 16:22
  Speaker 4: wants to showcase with the features and benefits of a
• 16:25
  Speaker 4: maybe less superior company. That you go, ah, well, you're right,
• 16:29
  Speaker 4: that one is much better, and you feel good about
• 16:31
  Speaker 4: your decision. But it's actually just advertising. So the ATO
• 16:35
  Speaker 4: website has it. It is free. And the thing I
• 16:38
  Speaker 4: would do before that, though, is because you mentioned, oh,
• 16:41
  Speaker 4: I'm in a retail super fund, that doesn't necessarily mean
• 16:44
  Speaker 4: that that retail super fund is bad like you might
• 16:46
  Speaker 4: be with like host plus or rest or something like that,
• 16:49
  Speaker 4: and they are legitimate super companies. The first thing I
• 16:52
  Speaker 4: would actually do is log into my mygove portal and
• 16:55
  Speaker 4: actually have a look at what super funds I have, because,
• 16:57
  Speaker 4: just like you, Beck, you might have seven accounts that
• 16:59
  Speaker 4: you didn't know about. Because if you jump around from
• 17:02
  Speaker 4: casual employment to casual employment, especially when you're a bit younger,
• 17:05
  Speaker 4: often you starting a super fund. Yeah, tick the box,
• 17:08
  Speaker 4: you know what I can't One time I ended up
• 17:10
  Speaker 4: with a new superfund because I literally couldn't be bothered
• 17:13
  Speaker 4: going and finding my old super fund.
• 17:15
  Speaker 5: The information yeah right, I could does matter.
• 17:19
  Speaker 4: It doesn't matter. I don't have any money like that
• 17:22
  Speaker 4: was the mentality that I had. And that's not okay,
• 17:25
  Speaker 4: we don't do that. That is not BB scrapping it.
• 17:27
  Speaker 4: That is not what Jess would do these days. So
• 17:29
  Speaker 4: we are going to compare it. If you have a
• 17:31
  Speaker 4: number of super funds, I would be having a look
• 17:33
  Speaker 4: at all of them, making sure that there aren't any
• 17:36
  Speaker 4: important insurances in them, because if you are leaving a
• 17:39
  Speaker 4: superannuation fund that has default insurances, that can actually be
• 17:43
  Speaker 4: a negative thing. And it's a negative thing because sometimes
• 17:46
  Speaker 4: our default insurances are actually really powerful. I'm going to
• 17:49
  Speaker 4: use Jess as an example here because Jess, you are
• 17:51
  Speaker 4: very active, way more active than I would ever be.
• 17:53
  Speaker 4: You play frisbee, right, So say you've got a default
• 17:56
  Speaker 4: insurance inside superannuation, but you did your ACL playing fuz
• 18:00
  Speaker 4: be really common.
• 18:01
  Speaker 5: Actually yeah that like I know like six different people
• 18:04
  Speaker 5: who have done it.
• 18:04
  Speaker 4: Oh ill, But say you did your ACL like one
• 18:07
  Speaker 4: of your friends, and you went to another insurer and
• 18:10
  Speaker 4: you were like, okay, cool, like, Hey, brand new super fund,
• 18:12
  Speaker 4: I need some insurance. I now need to apply because
• 18:15
  Speaker 4: default insurance isn't that common these days, but it was
• 18:19
  Speaker 4: ten years ago when you got that super fund. I
• 18:21
  Speaker 4: want to apply and they go, no worries, Jess, what
• 18:23
  Speaker 4: previous health conditions If you had and you're like, oh,
• 18:25
  Speaker 4: I'm really healthy. I just did an ACL one time,
• 18:27
  Speaker 4: They're like, okay, cool, no worries, Jess, We're just not
• 18:29
  Speaker 4: going to cover you for your ACL. So that means
• 18:32
  Speaker 4: that if ever you have to take time off work
• 18:34
  Speaker 4: or go through an incident, if it's ever related to
• 18:37
  Speaker 4: your ACL, they will not give you an insurance payout.
• 18:41
  Speaker 4: And that can actually be really negative. And that's why
• 18:43
  Speaker 4: default insurance could be really good, especially in the example
• 18:46
  Speaker 4: of Jess, where you might go, oh, I've done my ACL.
• 18:49
  Speaker 4: Maybe I'll have a look at the other insurances see
• 18:52
  Speaker 4: if I can change without any you know, negative impact.
• 18:54
  Speaker 4: But if I can't, maybe I keep that insurance to
• 18:56
  Speaker 4: make sure. You know, if I do the other ACL,
• 18:58
  Speaker 4: or I do something that's related to that part of
• 19:01
  Speaker 4: my body, I'm not upshit Creek without a battle. Does
• 19:04
  Speaker 4: that make sense? Yeah, So you need to take that
• 19:06
  Speaker 4: into consideration. And the next thing I do is I
• 19:08
  Speaker 4: actually step back and go what are my values? What
• 19:11
  Speaker 4: are my thoughts? What do I actually want to achieve?
• 19:13
  Speaker 3: Here?
• 19:14
  Speaker 4: Like superannuation these days is so customizable, Like you could
• 19:17
  Speaker 4: go and investing a superfund that only has crude oil.
• 19:22
  Speaker 4: Not that sexy if you're in cheese on the money
• 19:23
  Speaker 4: because you probably have similar aligned values to us. But
• 19:26
  Speaker 4: have a think about what type of asset classes? Do
• 19:29
  Speaker 4: you want an ethical fund that's completely possible, do you
• 19:32
  Speaker 4: want you know, really well diversified asset classes. Do you
• 19:36
  Speaker 4: want access to bonds? Do you actually want to have
• 19:39
  Speaker 4: more say or do you just want a really good
• 19:41
  Speaker 4: cookie cut of fund that's going to work for you
• 19:43
  Speaker 4: in this moment for your risk profile and your age
• 19:46
  Speaker 4: and what you earn. So you really need to think
• 19:48
  Speaker 4: about that. And then that's when I go to your
• 19:51
  Speaker 4: super comparison tool and start looking, well, where are your
• 19:55
  Speaker 4: funds that you're already in performing, because maybe it's a
• 19:58
  Speaker 4: good fund for you, but the thing you need to
• 20:00
  Speaker 4: change is your risk profile on that fund. So maybe
• 20:03
  Speaker 4: instead of being imbalanced, you've done your risk profile and
• 20:06
  Speaker 4: you're actually a high growth investor, so you might stay
• 20:09
  Speaker 4: with that fund, but just change your profile, in which
• 20:11
  Speaker 4: case that's a good outcome too, and you've reviewed your
• 20:14
  Speaker 4: super properly, or you might go, oh, that fund is
• 20:17
  Speaker 4: not good. In fact, I've been ignoring those letters that
• 20:19
  Speaker 4: they're fincening me saying they're closing because they're that bad
• 20:22
  Speaker 4: and you need to find a new one, in which
• 20:24
  Speaker 4: case we're not just finding a new super fund, we're
• 20:27
  Speaker 4: also looking at our risk profile and going if I'm
• 20:29
  Speaker 4: moving to, for example, Australian super which one of their
• 20:32
  Speaker 4: seven risk profiles am I going to fall into? You
• 20:35
  Speaker 4: need to actually spend the time looking at that because
• 20:38
  Speaker 4: they all perform differently. A balanced super fund is going
• 20:41
  Speaker 4: to have a very different performance to a conservative super
• 20:44
  Speaker 4: fund and a high growth super fund. So there's a
• 20:46
  Speaker 4: lot to take into consideration. Just because you were in
• 20:49
  Speaker 4: a retail fund doesn't mean you shouldn't stay there. But
• 20:52
  Speaker 4: what we're going to do is our research, and if
• 20:54
  Speaker 4: we're going to do our research, we're not going to
• 20:56
  Speaker 4: be swayed by advertising. Does that wrap it up, Jess?
• 20:58
  Speaker 5: I think so. I think I know what Beck's going
• 20:59
  Speaker 5: to do tonight.
• 21:01
  Speaker 4: Yeah, from her face, that's not what she's going to do.
• 21:04
  Speaker 2: Tonight, I'm going to have been seven super funds.
• 21:09
  Speaker 5: Yeah, I really want to get into the spicy stuff
• 21:13
  Speaker 5: because we said we're making the episode even more community
• 21:15
  Speaker 5: centric this year, which I am pumped for, and that
• 21:18
  Speaker 5: means we want to kind of bring some of the
• 21:21
  Speaker 5: conversations that we're having in our dms to life on
• 21:23
  Speaker 5: the pod for people to kind of weigh in because
• 21:25
  Speaker 5: they need more better, right, No, more.
• 21:29
  Speaker 4: Opinions is more better?
• 21:31
  Speaker 5: Yeah?
• 21:31
  Speaker 4: Vote just GRICI twenty twenty three.
• 21:34
  Speaker 5: Put that on a mug and drink out of it.
• 21:36
  Speaker 5: But this week we have a really interesting dilemma. Do
• 21:39
  Speaker 5: you want me to read it out so everyone we're
• 21:41
  Speaker 5: talking about.
• 21:42
  Speaker 4: Course, we obviously screenshot it and put it on our
• 21:44
  Speaker 4: stories obviously deidentified, so we could get your opinions as well.
• 21:48
  Speaker 4: But Beck, you haven't heard this yet, So jess what
• 21:50
  Speaker 4: have we got?
• 21:51
  Speaker 5: All right? Our community member says, HEYV I have a
• 21:54
  Speaker 5: little bit of a sticky situation. My partner and I
• 21:57
  Speaker 5: have a joint account and share majority of our finances. Lately,
• 22:00
  Speaker 5: I've started to feel a bit guilty because my boyfriend's
• 22:03
  Speaker 5: and something to me about not having any other savings
• 22:05
  Speaker 5: outside of our joint savings. Of course I have an
• 22:08
  Speaker 5: emergency fund, and while I haven't necessarily been hiding it,
• 22:11
  Speaker 5: I also haven't been forthcoming and mentioned it to him.
• 22:13
  Speaker 5: I have just under fifteen K in my personal emergency fund.
• 22:16
  Speaker 5: Do you think I should be sharing this with him?
• 22:18
  Speaker 5: Or should I be keeping it for a rainy day? Advice?
• 22:20
  Speaker 5: Appreciate it?
• 22:22
  Speaker 4: What do you reckon she means when she says sharing
• 22:24
  Speaker 4: it with him? Does she mean like sharing the money
• 22:26
  Speaker 4: or sharing the fact she has it?
• 22:28
  Speaker 5: I think reading that, I'm reading it as she hasn't
• 22:31
  Speaker 5: told him that she has that money stashed away, so
• 22:34
  Speaker 5: he doesn't know it exists. That's how I'm interpreting the
• 22:37
  Speaker 5: message anyway.
• 22:38
  Speaker 4: So it's a tricky, oh splicy, But also I think
• 22:42
  Speaker 4: that's great. Like I mean, if she's feeling like it's
• 22:46
  Speaker 4: a little bit deceptive, I think maybe just in PARSI
• 22:48
  Speaker 4: being like, oh, yeah, like I do have an emergency fund,
• 22:51
  Speaker 4: and then maybe suggesting that he gets one as well,
• 22:53
  Speaker 4: because it's really important to have individual financial freedom, regardless
• 22:56
  Speaker 4: of whether you have shared finances. Maybe that's how I
• 23:00
  Speaker 4: deal with it. If an emergency fund is so ingrained
• 23:03
  Speaker 4: in the way that you've been doing budget and cash flow.
• 23:05
  Speaker 4: Then you know, maybe it just didn't come up because
• 23:07
  Speaker 4: it actually wasn't a joint asset. It wasn't a part
• 23:09
  Speaker 4: of the joint decision making. Like you know, if you're
• 23:11
  Speaker 4: saving for a house, like you're not going to use
• 23:13
  Speaker 4: your emergency fund to go towards the house. So maybe
• 23:16
  Speaker 4: it's not a valid conversation to have, and that's why
• 23:19
  Speaker 4: it diing come up. I don't think she's being sneaky.
• 23:21
  Speaker 2: No, No, I don't know.
• 23:24
  Speaker 6: I think if she has any reservations, if she's a
• 23:27
  Speaker 6: little bit stressed, or she wants that there for whatever
• 23:31
  Speaker 6: reason she feels like just in case it goes bad
• 23:34
  Speaker 6: or whatever, and she kind of wants to keep it
• 23:36
  Speaker 6: a secret.
• 23:37
  Speaker 2: Keep it a secret. I don't think that's sneaky at all.
• 23:40
  Speaker 4: I don't think that's bad.
• 23:41
  Speaker 2: I don't think that's bad.
• 23:42
  Speaker 4: If you had fifteen grand in a savings account that
• 23:45
  Speaker 4: was like away for a rainy day, would you tell
• 23:47
  Speaker 4: a future partner about it?
• 23:48
  Speaker 6: If I had fifteen k saved and a long term partner,
• 23:51
  Speaker 6: I wouldn't feel obliged to tell them because I don't
• 23:55
  Speaker 6: think it's absolutely necessary essential to tell your partner because
• 23:59
  Speaker 6: it is it really is your money. We can keep
• 24:01
  Speaker 6: things separate, you know what I mean. I don't think
• 24:04
  Speaker 6: that she needs to say anything. I don't think it's sneaky.
• 24:07
  Speaker 6: I think it's actually very clever and it's very safe,
• 24:11
  Speaker 6: and I'll probably keep it that way to be honest,
• 24:13
  Speaker 6: just in case you just don't know.
• 24:15
  Speaker 4: Yeah, you never know what's going to happen. Jess, what
• 24:18
  Speaker 4: would you do?
• 24:19
  Speaker 5: I think, like, I'm very pro sharing that you have it.
• 24:23
  Speaker 5: I'm also very pro keeping it entirely individual. As you said,
• 24:26
  Speaker 5: I think everybody should have access to money that only
• 24:29
  Speaker 5: they can touch, and I think she should keep it
• 24:31
  Speaker 5: that way. I guess to kind of play Devil's advocate.
• 24:33
  Speaker 5: If you're in a partnership and you are planning your finances,
• 24:36
  Speaker 5: and she said that she's sharing a lot of finances
• 24:37
  Speaker 5: with her partner, I guess when you're doing, say your
• 24:40
  Speaker 5: budget for the art, if you're saving for a house.
• 24:42
  Speaker 5: If we're using that example, you would kind of be going, okay, well,
• 24:46
  Speaker 5: where are you contributing your money? In my mind, to
• 24:49
  Speaker 5: be able to set that up properly, you kind of
• 24:50
  Speaker 5: have to go okay, well, I ESSM trying to put
• 24:53
  Speaker 5: fifteen thousand in an emergency fund. My partner, you've already
• 24:57
  Speaker 5: got fifteen thousand, so you don't need to be allocating
• 24:59
  Speaker 5: any more money there. You potentially can be contributing more
• 25:02
  Speaker 5: to the house fund. Yes, I feel like knowing what's
• 25:05
  Speaker 5: going on with each other enables you to get a
• 25:08
  Speaker 5: better picture of how you can best reach your shared goals,
• 25:11
  Speaker 5: because they do have those. As I said, I don't
• 25:14
  Speaker 5: think he should have access to it by any structure
• 25:16
  Speaker 5: of the imagination. But I also think that if this
• 25:18
  Speaker 5: is your long term partner, I would be questioning, why
• 25:22
  Speaker 5: don't you want to share that with him? Is it
• 25:24
  Speaker 5: because you don't trust him or her? Is it because
• 25:27
  Speaker 5: you're feeling anxious because of something that you've seen that's
• 25:30
  Speaker 5: a part of your money story. Is that something you
• 25:32
  Speaker 5: need to work through? Because I don't think fundamentally there
• 25:36
  Speaker 5: is anything wrong with telling them that that's there. Are
• 25:39
  Speaker 5: you worried that they're going to feel entitled to that money?
• 25:42
  Speaker 5: If so, is that a bit of a red flag?
• 25:44
  Speaker 5: I do we need to be.
• 25:48
  Speaker 1: So?
• 25:48
  Speaker 5: I think it's a bit bigger than should you should
• 25:49
  Speaker 5: you not tell them? It's why do you feel like
• 25:52
  Speaker 5: you should or shouldn't tell them?
• 25:54
  Speaker 2: Yeah, it's a good point.
• 25:55
  Speaker 4: We put it out to our community earlier this week
• 25:57
  Speaker 4: to say, well, what would you guys say, and we
• 25:59
  Speaker 4: did actually have a few people say red flag. I
• 26:02
  Speaker 4: think that that's definitely a red flag. But I also
• 26:05
  Speaker 4: wasn't sure if it's a red flag that you're hiding
• 26:08
  Speaker 4: it or it's a red flag, do you know what
• 26:10
  Speaker 4: I mean? I think, in my circumstance, you should probably
• 26:13
  Speaker 4: be encouraging your partner to actually get one. And Jess,
• 26:15
  Speaker 4: your example before was really good where you're like, oh, well,
• 26:17
  Speaker 4: if they already have their emergency fund, maybe they contribute
• 26:20
  Speaker 4: in a different way. But should they have dipped into
• 26:22
  Speaker 4: their emergency fund for something, then maybe the budget changes
• 26:25
  Speaker 4: a bit for them to top that back up until
• 26:27
  Speaker 4: we're back on track. But I do think your partner,
• 26:30
  Speaker 4: actually the conversation's probably more around like, oh, hey, well
• 26:33
  Speaker 4: I have an emergency fund, and I actually assumed you
• 26:35
  Speaker 4: had one, and you probably should be working towards it. Jess,
• 26:38
  Speaker 4: what was some call outs that you saw the community have.
• 26:41
  Speaker 5: I liked what one person said, which was, my emergency
• 26:44
  Speaker 5: fund isn't hidden, but my partner knows that he has
• 26:47
  Speaker 5: no claim to it, and that that money is solely
• 26:49
  Speaker 5: for my discretion, which I think shows that they've said
• 26:52
  Speaker 5: really clear boundaries. You know, they've gone, yes I have it,
• 26:55
  Speaker 5: Yes you can know about it, but that's not for you.
• 26:59
  Speaker 5: That's mine. And so you need to have your own
• 27:01
  Speaker 5: emergency fund for your own emergencies.
• 27:03
  Speaker 4: Yeah, I agree. Someone else said I don't think it's
• 27:06
  Speaker 4: healthy in a healthy relationship to have separate money, and
• 27:09
  Speaker 4: I think that that's a hot take.
• 27:11
  Speaker 2: Yeah, that is strong hot take.
• 27:14
  Speaker 4: And as somebody who I think I'm in a healthy relationship,
• 27:17
  Speaker 4: just I think you're in a healthy relationship. Both of
• 27:19
  Speaker 4: us have our own emergency funds that our partners can't touch,
• 27:22
  Speaker 4: and I feel like that actually keeps it healthy. And yes,
• 27:26
  Speaker 4: you know, looking at this circumstance, you know you might
• 27:29
  Speaker 4: be a little bit apprehensive to tell your partner, but
• 27:31
  Speaker 4: like should he not be supportive of you being financially free,
• 27:35
  Speaker 4: Like should you not be like supporting each other in that,
• 27:38
  Speaker 4: Like shouldn't you be wanting your partner to also have that.
• 27:41
  Speaker 4: Steve knows about my emergency fund. He knows it exists
• 27:44
  Speaker 4: because we've talked about it before. But you know what,
• 27:46
  Speaker 4: now thinking about it, I don't think he knows how
• 27:48
  Speaker 4: much is in it. Yeah, he just knows I've got
• 27:50
  Speaker 4: it because I've always had it, well not always, but
• 27:53
  Speaker 4: I've always had it in the relationship that we've been in.
• 27:56
  Speaker 4: So he's kind of like, Yep, she has that, And
• 27:58
  Speaker 4: do you know what. I couldn't tell you what's in
• 27:59
  Speaker 4: his but I know he's got a fund that I
• 28:02
  Speaker 4: can't touch.
• 28:03
  Speaker 5: And does that give you a bit of comfort knowing that?
• 28:04
  Speaker 4: I think it's important.
• 28:05
  Speaker 5: Yeah, I feel it is.
• 28:07
  Speaker 6: You need to know that if anything happens in the
• 28:09
  Speaker 6: relationship that both of you, yeah, are going to be okay.
• 28:12
  Speaker 2: Yeah, absolutely, not just you, not just them.
• 28:16
  Speaker 5: Interestingly, someone else said not everything needs to be shared
• 28:19
  Speaker 5: when it comes to money, and I was like, oh,
• 28:21
  Speaker 5: that's another hot take.
• 28:22
  Speaker 4: That's a good point. And I mean, you know, I
• 28:25
  Speaker 4: always use my relationship as an example because I don't
• 28:27
  Speaker 4: want to say that there's a right and wrong thing.
• 28:29
  Speaker 4: It's just how Steve and I've fallen out to do it.
• 28:32
  Speaker 4: We do share our finances, I say, we share everything,
• 28:36
  Speaker 4: but also it's really controlled, so like we don't just
• 28:40
  Speaker 4: have our pay automatically put into the one account. So
• 28:43
  Speaker 4: you know, if she'd hit the fan, we wouldn't be okay.
• 28:45
  Speaker 4: Like every single month he goes in and transfers his
• 28:48
  Speaker 4: pay to the shared account, So if something happened, he
• 28:52
  Speaker 4: could just stop doing that and it wouldn't go into
• 28:54
  Speaker 4: our shared Does that make sense? Like yeah, and vice versa.
• 28:57
  Speaker 4: Like I obviously am my own business owner, and I
• 28:59
  Speaker 4: don't have a PAYG salary, but like I pay myself
• 29:02
  Speaker 4: and I transfer the money into the account on a
• 29:05
  Speaker 4: monthly basis, so that we have joint funds. I think
• 29:09
  Speaker 4: at any point both of us have our own control
• 29:11
  Speaker 4: over our incomes and where that might be going. So
• 29:14
  Speaker 4: if something happened, that would be okay. Just in your relationship,
• 29:18
  Speaker 4: you have shared money, but you definitely do it differently
• 29:20
  Speaker 4: to me.
• 29:21
  Speaker 5: Yeah, we don't actually have a joint account. It's something
• 29:24
  Speaker 5: that I have been saying for eightes. Oh, we need
• 29:25
  Speaker 5: to set one up just for like groceries and stuff.
• 29:27
  Speaker 5: We just haven't gotten around to it. Like we split
• 29:29
  Speaker 5: most of our shared expenses fifty to fifty and annoyingly
• 29:32
  Speaker 5: right now, like I'll just be like, you owe me
• 29:34
  Speaker 5: two hundred dollars for transferred us So definitely not the best.
• 29:37
  Speaker 5: It would just be easier to have an account exactly right.
• 29:40
  Speaker 5: But yeah, I think that like for us, that's what works,
• 29:42
  Speaker 5: and it is such a personal thing, like if you
• 29:43
  Speaker 5: want to keep it totally separate, keep it totally separate,
• 29:45
  Speaker 5: but it Yeah, I think it's a bigger question about
• 29:48
  Speaker 5: where do you see the relationship going. How comfortable are
• 29:51
  Speaker 5: you talking? And if you're not company talking, maybe that's
• 29:54
  Speaker 5: a conversation to be had. So this one says you
• 29:56
  Speaker 5: don't have to tell him how much is there? Maybe
• 29:59
  Speaker 5: just tell him you how of emergency cash money? I
• 30:02
  Speaker 5: feel like that's a happy medium, right, That is a
• 30:04
  Speaker 5: happy medium.
• 30:05
  Speaker 4: I really like that.
• 30:06
  Speaker 5: Yeah, no, I like.
• 30:07
  Speaker 4: That, But I also think it plays into like how
• 30:10
  Speaker 4: your partner responds, Like not everything should be a test,
• 30:12
  Speaker 4: but I do think it would be interesting to see
• 30:14
  Speaker 4: how your partner responds to finding out that you have
• 30:17
  Speaker 4: an emergency fund and going, oh, yeah, like I've got
• 30:19
  Speaker 4: some cash stashed away for a rainy day if anything
• 30:21
  Speaker 4: should happen. I think you need to have it. I
• 30:23
  Speaker 4: think it would be supportive if they turn around and said,
• 30:25
  Speaker 4: oh great, no worries, like that's fine, but like a
• 30:28
  Speaker 4: massive red flag if they're like, how much, why isn't
• 30:30
  Speaker 4: it in our savings? What's going on, How does that work?
• 30:32
  Speaker 2: Why do you need it?
• 30:33
  Speaker 4: Why do you need that? Why do you think that,
• 30:35
  Speaker 4: you know, why do you think you need a rainy
• 30:36
  Speaker 4: day fund? Like, I think that could be a really
• 30:38
  Speaker 4: big friend flag.
• 30:39
  Speaker 2: That's a good way.
• 30:40
  Speaker 4: Not a test. It's not a test.
• 30:42
  Speaker 6: That's a good way to gauge, it's a gage.
• 30:46
  Speaker 4: I imagine if that happened in your relationship, where you
• 30:49
  Speaker 4: partner found out you had an emergency fund and they're like,
• 30:51
  Speaker 4: why why do you need that? You're like, this is why,
• 30:54
  Speaker 4: exactly why? Oh my gosh. I feel like these answers
• 31:00
  Speaker 4: having pretty spicy, a lot of people saying, you know,
• 31:03
  Speaker 4: there's nothing wrong with having it, let's just be open
• 31:05
  Speaker 4: and honest, all the way through to people being like
• 31:06
  Speaker 4: red flag, red flag, and then people saying, no, keep
• 31:09
  Speaker 4: it hidden, don't tell your partner. I don't know. I
• 31:11
  Speaker 4: think it's just whatever you feel comfortable with. But I
• 31:14
  Speaker 4: think the general consensus at this table while recording is
• 31:18
  Speaker 4: it is important to have access to your own funds,
• 31:20
  Speaker 4: regardless of whether you save money or not. Could we
• 31:22
  Speaker 4: say that that's the summary of this conversation Jess and Beck, Yes,
• 31:25
  Speaker 4: I believe.
• 31:26
  Speaker 5: So that was so fun. I really enjoyed hearing everybody's
• 31:28
  Speaker 5: hot takes. Keep an eye out on our Instagram if
• 31:31
  Speaker 5: you don't follow us, We're at Cheese on the Money
• 31:32
  Speaker 5: a US because we're going to be doing more of these.
• 31:35
  Speaker 5: I feel like it's really fun to bring these daties
• 31:37
  Speaker 5: to lie, but.
• 31:39
  Speaker 4: I also want to know the community's opinion on what's
• 31:41
  Speaker 4: going on and how it works. I mean, it's a
• 31:43
  Speaker 4: judgment free zone. Everybody is going to manage money in
• 31:45
  Speaker 4: a different way. But it's so interesting to go like, oh, Jess,
• 31:48
  Speaker 4: like you don't even have your bank account set up yet,
• 31:50
  Speaker 4: and I'm just assuming it's because you've been lazy. Yeah, yeah, correct,
• 31:54
  Speaker 4: all the way through to like, oh, we actually share
• 31:56
  Speaker 4: absolutely everything because we've had this question before on the
• 31:58
  Speaker 4: pod where people are like, oh, like having listened to
• 32:01
  Speaker 4: the pod and only just starting my financial literacy journey
• 32:04
  Speaker 4: and I've been married for twenty years, Like how do
• 32:06
  Speaker 4: I tell my partner I want an emergency fund because
• 32:09
  Speaker 4: they could take it the wrong way. I think seeing
• 32:11
  Speaker 4: from the community what your thoughts and feelings are is
• 32:14
  Speaker 4: going to help validate a lot. But also, who doesn't
• 32:16
  Speaker 4: love a perview question about somebody else's relationship.
• 32:19
  Speaker 2: God, I love it.
• 32:20
  Speaker 4: I love it so good.
• 32:22
  Speaker 5: Great first episode, Beck, thank.
• 32:24
  Speaker 4: You, that was so much fun.
• 32:25
  Speaker 2: Yeah that we love it.
• 32:26
  Speaker 5: But I reckon, it's about time we get out all
• 32:28
  Speaker 5: out of here ladies.
• 32:30
  Speaker 4: Is it time for a little bit of rage?
• 32:32
  Speaker 2: Oh god, it's about time.
• 32:33
  Speaker 5: T G I F M A right, you know what?
• 32:36
  Speaker 4: No, no, no, no, no, no no no. Beck told
• 32:38
  Speaker 4: me earlier today that sometimes she goes to the pub
• 32:40
  Speaker 4: and just order soda water, So like, is that lame?
• 32:43
  Speaker 3: Yeah?
• 32:44
  Speaker 4: Like, I mean it's very budget friendly. But like Jess
• 32:46
  Speaker 4: and I were having an approll, if you would like
• 32:48
  Speaker 4: to join us for that, you are more than welcome. Okay,
• 32:53
  Speaker 4: ten out of ten give me ten.
• 32:55
  Speaker 5: See you next week, guys. Have you good weekend.
• 33:03
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• 33:05
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• 33:09
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• 33:13
  Speaker 4: not be relied upon to make an investment or financial decision.
• 33:16
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