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Is This a Red Flag Side Hustle? · She's On The Money

0:00
Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
0:04
Speaker 1: the Order Kerni 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
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
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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.
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Speaker 3: She's on the Money. She's on the Money.
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Speaker 2: Hello, and welcome to She's on the Money podcast that
1:00
Speaker 2: makes personal finance fun, especially on Fridays. It's our favorite
1:05
Speaker 2: day of the week because we get our little team
1:06
Speaker 2: together and we celebrate you, our incredible She's on the
1:09
Speaker 2: Money community today, Mster Griccy is going to be giving
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Speaker 2: us some money wins and confessions from the community. Miss
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Speaker 2: beck'say Ed has some pretty deep broke tips which I'm
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Speaker 2: excited to get into. We're going to be helping to
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Speaker 2: answer a money dilemma which this week is all about
1:26
Speaker 2: managing a zuerbranuation break while studying, and something that you
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Speaker 2: slipped into our DMS about This week, we're talking about
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Speaker 2: whether you should be worried if your partner wants to
1:34
Speaker 2: gamble as a side hustle or I think we know
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Speaker 2: the ad when you put it further into it my loves.
1:42
Speaker 2: As always, we start the show by sharing our favorite
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Speaker 2: five star review. Last week, Jess got to go first.
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Speaker 2: This week, Beck, it is your turn to have a
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Speaker 2: first cab off the rank. Yay, what do you bring
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Speaker 2: into the table?
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Speaker 4: This it comes from Carli, who says this podcast has
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Speaker 4: literally changed my life and until any one that will listen.
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Speaker 4: Having come from a home that never discussed financial literacy,
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Speaker 4: Victoria has taught me everything I need to know. If
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Speaker 4: you are open to the learnings and genuinely want to
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Speaker 4: grow or change, everything you need is here in this community.
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Speaker 4: Victoria is empowering women in every single episode, and I'm
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Speaker 4: so inspired by everything she shares with the community. I
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Speaker 4: have bought the books, the courses and everything between. Thank
2:20
Speaker 4: you for everything you do, all of you. Oh my god,
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Speaker 4: so nice, Thank you, thanks so much.
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Speaker 2: That is really really sweet. And the fact that she
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Speaker 2: took the time to write that to it. Oh love,
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Speaker 2: that's really sweet. Thank you so much, made my day.
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Speaker 2: That's so good. All right, Jess, What have you got?
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Speaker 5: Mine is from unsettled life dot com. Honestly relatable.
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Speaker 2: They said.
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Speaker 5: At the beginning of twenty twenty four, I hosted a
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Speaker 5: vision boarding get together with my friends. One of the
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Speaker 5: goals was to listen to more podcasts, and another was
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Speaker 5: to sort my finances out and grow my savings now
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Speaker 5: that I was two years post divorce. I'm so happy
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Speaker 5: to say it now ten months in that that one
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Speaker 5: goal support or the other. I love how dependable this
3:02
Speaker 5: podcast is. You have Victoria as your advocate and cheerleader
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Speaker 5: every single Monday, Wednesday, Friday and now Saturday to remind
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Speaker 5: you is what you're working for and to give you
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Speaker 5: a ton of tips and tricks. Victoria is a thirty
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Speaker 5: three year old mogul and absolute boss for woman.
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Speaker 2: But she's a stretch bit Okay, I'll take it.
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Speaker 5: Every week by Beck, who lives in sharehousing and has
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Speaker 5: the most creative and sometimes.
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Speaker 2: Hilarious broke tips you do. And Jesse is.
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Speaker 5: Working on her side hustles and saving to buy her
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Speaker 5: first home and so many diverse money diarists with their
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Speaker 5: own stories to share. Guaranteed there is someone you can
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Speaker 5: relate to every week. I'm proud to say, with the
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Speaker 5: help of She's on the Money as well as the
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Speaker 5: Broke Generation podcast Shatter Emma, we love you, I've got
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Speaker 5: a healthy emergency fund and have a solid handle on
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Speaker 5: my budget and have invested my first five hundred dollars
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Speaker 5: with Chareze's and finally, for the first time in my life,
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Speaker 5: feel like I'm fully in control of every aspect of
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Speaker 5: my finance.
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Speaker 2: Get into it. Yes, yes, yes, that's incredible. That's incredible,
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Speaker 2: warm and fuzzy. Yeah, yes, absolutely it does. But just
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Speaker 2: like two years post divorce, you're killing it.
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Speaker 3: That's up.
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Speaker 2: I love this so much for you, but also just
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Speaker 2: I love our diversity of our team. Yeah, we all
4:15
Speaker 2: just from different places, but we're all on the same page.
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Speaker 2: Like we all have very different money stories, but we're
4:21
Speaker 2: all just vibin.
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Speaker 4: We're all here.
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Speaker 2: I think it's important. I think it's really important because
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Speaker 2: you don't just want to hear from me, where you
4:27
Speaker 2: want to hear from a team of people who all
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Speaker 2: have diverse opinions. Yeah, and like that's what we try
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Speaker 2: to do. Anyway, I have one. It is from Emmy
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Speaker 2: Rose zero five, double one, and Emmy Rose says, I
4:38
Speaker 2: am a twenty one year old girl who started working
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Speaker 2: her first adult job this year as a registered nurse. Congrats, baby,
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Speaker 2: she says, I'm loving it. By the way, and lucky
4:47
Speaker 2: for me, I started listening to the pod almost two
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Speaker 2: years ago. Finally earning some real money this year, and
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Speaker 2: thanks to this, she's on the Money podcast, I've been
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Speaker 2: able to budget and save more than I could have
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Speaker 2: possibly imagined. I also found that you girls were answering
5:01
Speaker 2: all the questions I never knew I had in relation
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Speaker 2: to hex my tax, my tax return, and my superannuation.
5:08
Speaker 2: I feel like you are my big sisters, giving me
5:10
Speaker 2: the advice and information that no one in my family
5:13
Speaker 2: ever could. Thank you for helping me the way you do.
5:16
Speaker 2: I'm so grateful for beautiful girls like you. You're appreciated more
5:20
Speaker 2: than you understand. Oh my god, Amy.
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Speaker 4: Like Tingles, that's so that is so sweet. Thank you
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Speaker 4: so much.
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Speaker 2: I love that. But also just the idea that you
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Speaker 2: were listening to the show before you had like a
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Speaker 2: full time income. Yeah, Like, it's so important to remember
5:35
Speaker 2: that financial literacy isn't just when you have money, before
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Speaker 2: you have money, so that when you finally come into it,
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Speaker 2: you can manage it properly and be really confident and
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Speaker 2: actually know what you want to achieve. Like we can
5:47
Speaker 2: talk about our money stories. We can talk about like
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Speaker 2: how we would budget, maybe what we would invest, Like,
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Speaker 2: isn't it cool that we can set ourselves up? That'sn't
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Speaker 2: really cool? Get money, to have money and be good
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Speaker 2: at it.
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Speaker 4: That's really smart too. For twenty one, I was not
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Speaker 4: like that twenty one, she's knowing that she is. She
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Speaker 4: can't implement these things right now, but she's learning, and
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Speaker 4: that's really cool.
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Speaker 2: Can change the projectory of your life. Yeah, exactly, exactly,
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Speaker 2: and I think that that is just so cool. Our
6:13
Speaker 2: community is so cool and full of so many special people. Jess.
6:16
Speaker 2: You were diving deep into the community this week. What
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Speaker 2: money wins and confessions do you bring into the table
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Speaker 2: for us?
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Speaker 5: All right, Well, it was the first full week of
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Speaker 5: November this week, so it's officially Christmas.
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Speaker 2: No season is not it is yet, absolutely it is not.
6:29
Speaker 2: I was with Zara earlier this week. We were in
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Speaker 2: Spotlight and I was saying how awful it is that
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Speaker 2: you can see all of the Halloween decorations put next
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Speaker 2: to the Christmas decorations, like Halloween is only just finished.
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Speaker 2: Guys like why is the Christmas stuff out? And also
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Speaker 2: am I going to see Hot Cross Buns before Christmas
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Speaker 2: this year? I hope?
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Speaker 5: So?
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Speaker 2: No. Well, I do have two Christmas tree themed money wins.
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Speaker 5: So from Becky who said she found a brand new
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Speaker 5: still in the box seven foot Christmas tree at Vinnie's
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Speaker 5: for fifteen dollars.
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Speaker 2: Okay, but that's money money. We all allow that one,
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Speaker 2: we will.
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Speaker 5: And then I have also a tree win from Haley,
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Speaker 5: who said, my partner and I wanted to buy a
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Speaker 5: Christmas tree because it will be our first proper Christmas
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Speaker 5: in our new home.
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Speaker 2: Congratulations.
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Speaker 5: She had fifty dollars worth of rewards points saved on
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Speaker 5: her Billies Rewards card and the tree that they wanted
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Speaker 5: was fifty nine dollars from b W so they only
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Speaker 5: had to pay ten dollars. Tree. I love.
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Speaker 2: That is so so good. I love a Christmas tree.
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Speaker 2: In fact, to last year, I bribed Jess to come
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Speaker 2: to my house to help me put mine up because
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Speaker 2: I was quote too pregnant. I'm not pregnant, right, now,
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Speaker 2: but like, Jess, will you help me put my tree
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Speaker 2: out place?
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Speaker 5: Oh my god, yes, Less, I can imagine what kind
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Speaker 5: of I love.
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Speaker 2: A theme too well.
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Speaker 5: And I feel like, because you have Harvey, like we
7:45
Speaker 5: can do something like really fun.
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Speaker 2: One hundred percent. And also I think Jess loves it
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Speaker 2: because I have Christmas draws at my house, so like
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Speaker 2: I have a whole storage solution thing for all of
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Speaker 2: my decorations. Side, it's just really fun. It's also we
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Speaker 2: make little Christmas cocktails. It's a thing. It's a thing.
8:02
Speaker 2: And I'm pretty sure I actually heard this on like
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Speaker 2: a government website. It is actually illegal to put up
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Speaker 2: a Christmas tree and not have Christmas carols playing in
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Speaker 2: the background. I completely I agree. You don't have to agree.
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Speaker 5: It's jail, go straight to jail, alright.
8:20
Speaker 2: It next money.
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Speaker 5: And I've got one from Grace who said she brought
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Speaker 5: lunch to work four days last week.
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Speaker 2: Okay, my girl done. Grace, that's always planned to do
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Speaker 2: that and never execute it.
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Speaker 4: Yeahwadays, you're an icon by the secondary You're like, I
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Speaker 4: want to eat this anymore.
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Speaker 2: I eat the same thing basically every time, and they
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Speaker 2: don't get sad about it. But I also just forget
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Speaker 2: to pack it every single time, leave it in the fridge.
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Speaker 2: Shouldn't be that deep next time.
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Speaker 5: I'm moving from Daniella who said she's on track to
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Speaker 5: say for thousand dollars for Christmas shopping this year. She
8:52
Speaker 5: heard us sharing our one thousand dollars Christmas hack on
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Speaker 5: the Poddy a little while ago. Headed straight to the
8:58
Speaker 5: resources to have people sometimes ask for. They find the
9:00
Speaker 5: things that we talk.
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Speaker 2: So much free stuff on our website.
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Speaker 5: She's money dot come down to you. You go to
9:05
Speaker 5: I think it's the freebies page in the show notes.
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Speaker 2: And there's downloadables, You've got our standards, savings hacks, there's
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Speaker 2: a free budget, there's like ebooks that we've written about,
9:14
Speaker 2: like cheap meals and stuff. But then what is there
9:17
Speaker 2: most recently just the save one thousand dollars before Christmas
9:20
Speaker 2: saving hack sheet. So and it's like about saving but
9:23
Speaker 2: also finding cash. So like what can you sell? Like
9:27
Speaker 2: you can write a few goals of your own to
9:30
Speaker 2: like hustle up an extra two hundred bucks, or you know,
9:32
Speaker 2: can you go round your house and find some stuff
9:34
Speaker 2: to chuck on marketplace? Or could you do some like
9:36
Speaker 2: online surveys or something it's not necessarily about just saving it,
9:40
Speaker 2: because I know that not all of us have a
9:41
Speaker 2: spare thousand dollars coming into our bank account that you
9:44
Speaker 2: could find. Like, that's a stretch, but we could huzzle
9:47
Speaker 2: it up before Christmas.
9:48
Speaker 5: Danielle put a photo of hers in and I can
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Speaker 5: see that so far she's done surveys, she got some
9:52
Speaker 5: money back through the Many Bank Live Better, she sold
9:55
Speaker 5: some unused things on Marketplace, and she did something I
9:59
Speaker 5: think it says RUVI scanning. I don't know what that is,
10:01
Speaker 5: but I'll look into it. But there's some suggestions for
10:04
Speaker 5: anyone who wanted to my d's on how to get started.
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Speaker 2: Yes, and also, now's a good time to check your
10:10
Speaker 2: shop back account or like your cash on boards account
10:13
Speaker 2: to see if there's any cash sitting in there that
10:15
Speaker 2: could contribute to your Christmas budget. Yeah. Greg was like,
10:19
Speaker 2: I know I've got some cash sitting in there, but
10:20
Speaker 2: I couldn't tell you off the top of my head
10:22
Speaker 2: what it is. So I'm going to go in, cash
10:24
Speaker 2: it out, put it in a savings account, and put
10:26
Speaker 2: it to the side for Christmas prosies. Nice really thinks
10:29
Speaker 2: we're we're doing a legal financial audit and finding all
10:32
Speaker 2: of the things that might have been missed.
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Speaker 5: Yeah, anywhere that you can find a little bit of
10:35
Speaker 5: extra cash, is it always? And last of this week,
10:38
Speaker 5: I've got one from em who said her kettle was
10:41
Speaker 5: dying and wouldn't boil anything anymore, which is kind of
10:43
Speaker 5: like the whole point of a kettle.
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Speaker 2: Crazy.
10:46
Speaker 5: So she said it was outside of the manufacturer warranty,
10:49
Speaker 5: but she had so annoying.
10:52
Speaker 2: Luckily she'd kept the old.
10:53
Speaker 5: My receipt and there was like an extra yar as
10:56
Speaker 5: part of so she caught up and.
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Speaker 2: She got a total refund. Great, never keep receipts, like
11:03
Speaker 2: if I've bought it for personal use, like I'm pretty
11:06
Speaker 2: good with business stuff, but like for personal use, no,
11:09
Speaker 2: yeah no, And we think to keep it for a
11:11
Speaker 2: kettle too, Like that is no kettle for me, Like
11:15
Speaker 2: you buy it once and you have it for your
11:17
Speaker 2: entire life. In my head, yeah, I don't need the
11:19
Speaker 2: reason my like five dollars kart kettle is still going.
11:22
Speaker 2: Oh yeah, and at what point can you justifiably replace it?
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Speaker 2: Like I don't think you're allowed to. I think you
11:28
Speaker 2: have to keep that kettle forever. Like this meg one
11:31
Speaker 2: might look boogie Jess, but like, you can't get it
11:33
Speaker 2: because you have one that works already. Yeah, yeah, five dollars.
11:37
Speaker 2: So it's not even about the price anymore. You have
11:39
Speaker 2: one that works, you don't need another two hundred dollarttle.
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Speaker 2: It's not the kind of thing you replace. I feel like, no, yes, yes,
11:45
Speaker 2: And then at that point in time, you assess your
11:47
Speaker 2: budget and if you can afford another five dollar kettle,
11:49
Speaker 2: money win. If you can afford a more boogie one,
11:52
Speaker 2: at that point you might buy one. But if you
11:54
Speaker 2: buy another five dollar kettle, it's another fifteen years. I'm sorry. Yeah,
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Speaker 2: I didn't make them. I agree, I agree. That's it
12:01
Speaker 2: this week. Wow, I love that. Alright, Beck, Yes, we've
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Speaker 2: got some broke tips. I want to know what have
12:09
Speaker 2: you got and where'd you get them?
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Speaker 4: Okay, so this first one comes from your thread thrifty hacks.
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Speaker 2: Yes, I love a thrifty hack.
12:18
Speaker 4: Great idea.
12:20
Speaker 2: If you're not in a Facebook group, we do so
12:22
Speaker 2: much stuff in there, like it's just a group of
12:25
Speaker 2: goal pals and five pals and literally all our pals
12:29
Speaker 2: just talking about money. If you're not in there, oh
12:33
Speaker 2: it's the best, just chip hanging out. Yeah, I love that.
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Speaker 4: So this first one comes from Christy who and this
12:38
Speaker 4: is very similar to I don't know if you guys
12:40
Speaker 4: remember a few weeks ago talking about fixing my own
12:42
Speaker 4: car saving quite a bit of money.
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Speaker 2: How did that go? Is it still going strong? One
12:46
Speaker 2: the year?
12:47
Speaker 4: It's going Okay, I haven't started yet, but I bought
12:50
Speaker 4: all the things.
12:51
Speaker 2: Yeah, okay, okay, And.
12:52
Speaker 4: So I'm just gonna maybe not do it, but I
12:53
Speaker 4: just feel good about it.
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Speaker 2: No, I love it.
12:56
Speaker 4: So Chrissy says that the metal cable chain broke on
12:59
Speaker 4: it blind. Instead of paying for a call out fee
13:02
Speaker 4: for a person to come and fix it, she just
13:04
Speaker 4: watched her YouTube tutorial and purchased a new chain for
13:07
Speaker 4: ten dollars.
13:08
Speaker 5: We did isit our old rental because we didn't want to, like, yes,
13:11
Speaker 5: it wasn't our fault at all, but it just snapped
13:12
Speaker 5: and it was one of those things where we're like, oh,
13:14
Speaker 5: we don't want to look like bad tenants like that
13:16
Speaker 5: weren't looking after it, and so we did.
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Speaker 2: We just bought the tain.
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Speaker 5: It's so easy to actually know that's a total lie.
13:20
Speaker 5: It was a huge pain in the US. It was
13:24
Speaker 5: so easy, but you saved money, so it was worth
13:26
Speaker 5: it for the money, Yeah, the amount of money we
13:28
Speaker 5: saved and the not having a talk to the real
13:30
Speaker 5: estate agent and blah blah blah, so with it.
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Speaker 1: So yeah.
13:32
Speaker 2: I youtubed way back when on the same topic, when
13:36
Speaker 2: I was moving out of a rental, I youtubed how
13:38
Speaker 2: to replace the like screen in fly screen because my
13:42
Speaker 2: cats had ruined it and it was really easy, Like
13:45
Speaker 2: it actually wasn't a hassle. I just went to Bunnings
13:48
Speaker 2: and bought a new fly screen. Who would have known?
13:50
Speaker 2: You just pull it out pipe it back in. Honestly,
13:53
Speaker 2: YouTube saved my bus. Yes, yes, absolutely, yeah, And I
13:56
Speaker 2: was so scared. Imagine them desperate to get out of
13:58
Speaker 2: the house. Just clear, we won't even desperate to get
14:00
Speaker 2: out of the house.
14:01
Speaker 5: They were just being rude and they're doing the crazy
14:05
Speaker 5: runs right from one house the other, and then they'll
14:08
Speaker 5: climb the window and you're like, like, climb right to
14:13
Speaker 5: the top, and you're like they please.
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Speaker 2: Sometimes if I haven't like cut my cat's claws in
14:18
Speaker 2: a couple of weeks. My small cats are my older cat, Bailey.
14:22
Speaker 2: He doesn't do this anymore because he's fourteen now. But Henry,
14:25
Speaker 2: who's still only four. He goes up the wall, but
14:29
Speaker 2: if I haven't clipped his claws, he can't get down.
14:33
Speaker 2: And so then he's like hanging from the fly screen
14:36
Speaker 2: with his front paws yelling Mom, please save me. And
14:40
Speaker 2: I'm like, right now, I don't feel like saving you.
14:44
Speaker 2: You got yourself up. You get yourself up, get yourself down.
14:47
Speaker 2: And he's like, I can't, please help.
14:49
Speaker 4: There's a lesson that you must learn.
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Speaker 2: No, I'm get him down every time.
14:55
Speaker 4: Okay, So this next one, I thought this was really powerful.
14:59
Speaker 4: I guess cerebrawl as just my I remember using that.
15:03
Speaker 2: In the right way. Thank you. It's brainy, it's smart.
15:07
Speaker 2: It's like a big brain, big brain. So she's using
15:10
Speaker 2: her frontal lobe today.
15:13
Speaker 4: So this one comes from Max, who says nothing is
15:16
Speaker 4: more costly than pride. So basically, and they go on
15:20
Speaker 4: to say, never pass up a free meal. This is
15:22
Speaker 4: where you can often eat in the best company. A
15:24
Speaker 4: friend is someone who gives you a hand up. Even
15:26
Speaker 4: if all they can do is dust you off or
15:28
Speaker 4: make you smile, they will be there for you. That's
15:30
Speaker 4: so sweet. So I think it's great. So it's like,
15:33
Speaker 4: you know, and you know, we're talking off air about
15:35
Speaker 4: like someone offering a lift to the airport or helping you, Yeah,
15:40
Speaker 4: help you move, help you move, and you're like, nah,
15:42
Speaker 4: that's okay, I'll just pay seven thousand dollars, get a
15:44
Speaker 4: remove list, or my friend can help me exactly, say.
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Speaker 2: Yea, it goes around comes around as well. And I
15:50
Speaker 2: love that nothing is more expensive than your pride because
15:54
Speaker 2: like you'll be like, oh no, it's okay, won't stay
15:57
Speaker 2: for dinner, or like, oh no, I don't need help
15:59
Speaker 2: on that. Actually you do need help on that, and
16:01
Speaker 2: that would actually be really nice. So like that's a
16:04
Speaker 2: good tip, Beck, I like thing more, I don't know, philosophical,
16:08
Speaker 2: bro that you've got mindset is so important when it
16:12
Speaker 2: comes to saving money and you know, trying to live
16:15
Speaker 2: during the cost of living crisis, Like we have.
16:18
Speaker 5: To lean on our communities a lot more, your people
16:21
Speaker 5: around you because like you would do it for someone
16:23
Speaker 5: else and someone else would do it for you.
16:24
Speaker 4: I completely agree. It's a nice bonding moment too. You
16:26
Speaker 4: might make a beautiful, beautiful friend out of this situation.
16:29
Speaker 2: Actually, all right, Beck, what have you got when it
16:31
Speaker 2: comes to broake tips from you? As is less cerebral? Okay?
16:35
Speaker 4: Yes, So for obviously it's Christmas right now as we speak,
16:39
Speaker 4: first of November.
16:45
Speaker 2: You're so can I cannot hear them. I cannot hear them.
16:49
Speaker 2: And if I could hear them, I would gaslight you
16:51
Speaker 2: and say I cannot hear them.
16:53
Speaker 4: I can hear them.
16:55
Speaker 2: Okay.
16:55
Speaker 4: So if you go to DFO, they often have a
17:00
Speaker 4: Ristmas collection overflow from last year, and so those are
17:03
Speaker 4: like generally on sale. I didn't actually know about this
17:06
Speaker 4: until well, I became an adult as of one second ago,
17:10
Speaker 4: and I thought.
17:10
Speaker 2: Oh wow, I'm going to congrite song growing up. Thank
17:13
Speaker 2: you so much, thank you so much, doing really well.
17:15
Speaker 4: I think I just want to decorate my self in
17:18
Speaker 4: my home and my family and my friends. I just
17:20
Speaker 4: want to be really experience the joy.
17:22
Speaker 2: Yeah, it is quite joyful. It really is quite joyful.
17:25
Speaker 4: So I think, yeah, if you are looking for Christmas
17:28
Speaker 4: whatever decorations or anything else, trying to head to your phone,
17:33
Speaker 4: just see see what they got a little bit.
17:35
Speaker 2: I love that. I love that I gave the tip
17:38
Speaker 2: I think last year to buy your Christmas tree during
17:42
Speaker 2: the boxing day sales. Yes, they get super super cheap,
17:44
Speaker 2: and I've had a few people slide into my DMS
17:46
Speaker 2: and be like me, I'm gonna put my Christmas tree
17:48
Speaker 2: out early because it's been sitting in storage for nearly
17:51
Speaker 2: eleven months now waiting to come out of the box.
17:54
Speaker 2: And I'm like, that's really exciting because you can get
17:56
Speaker 2: such a good deal. And that's what I did because
17:59
Speaker 2: I'm really want a Balsam Hill Christmas tree, and Beck
18:02
Speaker 2: You're gonna be like, oh what, and Jess is I
18:05
Speaker 2: get it. It's like this bougie American brand that do
18:10
Speaker 2: these fancy, really fancy Christmas trees. Beck. So they do
18:15
Speaker 2: like pre lit, so the literal branches have the lights
18:18
Speaker 2: built in, but also you can pick the like type
18:21
Speaker 2: of pine tree you have and it's like a realistic Yeah,
18:25
Speaker 2: they have like all the different types of pine trees.
18:28
Speaker 2: Like anyway, I would love that one day, but I
18:31
Speaker 2: am not paying twelve hundred dollars for a Christmas tree.
18:36
Speaker 2: And a couple of boxing days ago, this is the
18:38
Speaker 2: tree that Jess and I got to set up last
18:40
Speaker 2: year and we'll do again this year. A couple of
18:43
Speaker 2: boxing days ago, I ordered it because I was like,
18:46
Speaker 2: oh my gosh, it's a pre lit, beautiful Christmas tree.
18:49
Speaker 2: It's basically a Balsam Hill dupe and I think it
18:51
Speaker 2: cost me like two hundred and eighty dollars or something,
18:54
Speaker 2: and it's massive, but like for me, I wanted to
18:57
Speaker 2: buy one that would last, and I was like an
19:00
Speaker 2: eighty bucks. Jess lives in Christmas Land, so she knows
19:03
Speaker 2: that's not that bad. And if you think about it,
19:05
Speaker 2: you have your tree forever.
19:07
Speaker 5: Yeah, I would hope my parents have their tree for
19:11
Speaker 5: like forty years or something.
19:12
Speaker 3: Yeah.
19:12
Speaker 2: I have tried so hard to like make sure that
19:15
Speaker 2: I've kept the box in pristine conditions so I can
19:18
Speaker 2: pack it down in all of that. So we'll see obviously,
19:21
Speaker 2: But yeah, wait till box. If there's something that you
19:24
Speaker 2: really want to buy that you're like, oh, I really
19:25
Speaker 2: want that, but it's too much, maybe save it for
19:27
Speaker 2: your boxing day shopping and then you've got it planned
19:30
Speaker 2: for next year. Yes, all right, let's go to a
19:32
Speaker 2: really quick break on the flip side. We've got a
19:34
Speaker 2: money dilemma this week. We're going to be talking about
19:37
Speaker 2: managing a superannuation break while studying and something we're just
19:40
Speaker 2: lad into our dams out guys. Today we're going to
19:42
Speaker 2: be chatting and I just know how this conversation is
19:45
Speaker 2: going to go, but we're going to be talking about
19:47
Speaker 2: whether you should be worried if your partner wants to
19:50
Speaker 2: gamble as a side hustle, So don't go anywhere.
19:58
Speaker 5: Welcome back, everybody. Let's take a listen to this week's
20:00
Speaker 5: money dilemma.
20:04
Speaker 2: Hi, there, have you got a money dilemma you just
20:06
Speaker 2: can't solve that. She's on the Money Team is here
20:09
Speaker 2: to help. Every week we tackle your dilemmas, both big
20:12
Speaker 2: and small, to answer your most burning money, career and
20:15
Speaker 2: life questions. To get involved, simply head to our website
20:18
Speaker 2: and leave us a short voice recording and you might
20:20
Speaker 2: just find yourself on the show. Now, let's take a
20:23
Speaker 2: listen to this week's money dilemma.
20:27
Speaker 6: Hi, She's on the Money Team. I have a money
20:29
Speaker 6: dilemma which I've thought a lot about. I'm twenty three
20:31
Speaker 6: and up until now, i've only worked part time jobs
20:34
Speaker 6: while studying, and my super is at twelve thousand dollars.
20:37
Speaker 6: My question is I've just started a PhD which will
20:39
Speaker 6: be for the next three and a half to four years,
20:42
Speaker 6: and i was lucky to receive a scholarship, so I'm
20:44
Speaker 6: not working part time anymore. However, this means my super
20:47
Speaker 6: is not going to have anything added for a few years,
20:50
Speaker 6: and I feel like I'm going to be behind should
20:52
Speaker 6: I be contributing to my SUPER? I am also considering
20:55
Speaker 6: that if I do, I can't claim any SUPER contributions
20:58
Speaker 6: as a tax deduction, and I'm not eligible for the
21:00
Speaker 6: government co contribution. I don't think so. I'm worried it's
21:03
Speaker 6: not the best use for my money on a low
21:05
Speaker 6: income or am I potentially better off investing outside of Super,
21:09
Speaker 6: which I am planning to do anyway. Thanks for your opinions.
21:12
Speaker 2: Oh that was really sweet. Also, congrats on getting into
21:15
Speaker 2: a PhD.
21:17
Speaker 4: That is so cool.
21:19
Speaker 2: One day you'll be like, yes, I'm a doctor. No,
21:22
Speaker 2: I can't help you with your medical emergency on this flight,
21:25
Speaker 2: but how cool is that? What would you do, Jess?
21:30
Speaker 5: I think I personally would probably be investing outside of
21:33
Speaker 5: SUPER because she can't take it. Sounds like she can't
21:36
Speaker 5: take advantage of the traditional benefits like the For me,
21:40
Speaker 5: the reasons that you would add to SUPER instead of
21:42
Speaker 5: outside of SUPER would be to take advantage of the
21:44
Speaker 5: co contribution if you're a low income earner and you
21:47
Speaker 5: fit within those brackets.
21:49
Speaker 2: Or to get the tax douction. I don't know why
21:51
Speaker 2: she can't get a tax species. A PhD stipend doesn't
21:54
Speaker 2: pay tax on it, So you'll be paid to do
21:57
Speaker 2: your PhD by the government, but you don't have to
21:59
Speaker 2: pay TI on that income. Interesting. Obviously she'll do a
22:03
Speaker 2: tax return and basically have like quote no taxable income. Therefore,
22:08
Speaker 2: if she made a contribution to superannuation, what's she claiming
22:11
Speaker 2: it against? Yeah, that could change if she decided, because
22:15
Speaker 2: a lot of people doing PhDs it's really financially challenging.
22:18
Speaker 2: They might be on like thirty thousand dollars a year
22:21
Speaker 2: and that's honestly so impressive that they get through that.
22:25
Speaker 2: But I know a lot of people who do PhDs
22:27
Speaker 2: have like part time jobs or side hustle waitresses. Yeah,
22:31
Speaker 2: so if you're doing like a side hustle or a
22:33
Speaker 2: waitressing job, at that point, you might go, Okay, well,
22:35
Speaker 2: I do have a taxable income I could claim it against.
22:39
Speaker 2: Might change the advice, or might change you know, what
22:41
Speaker 2: you want to do. But at the moment, if you're
22:44
Speaker 2: only going to be doing your PhD at that point,
22:47
Speaker 2: I don't know. I feel like we put so much
22:49
Speaker 2: pressure on ourselves. I'm going to let you finish. But
22:50
Speaker 2: I just have a lot to say about this.
22:52
Speaker 5: Yeah, I just I feel like the big thing is
22:55
Speaker 5: that Super is effectively, at the end of the day,
22:59
Speaker 5: an investment, and so if you really wanted to, you
23:02
Speaker 5: could replicate what your SUPER is investing in just in
23:05
Speaker 5: your own portfolio.
23:06
Speaker 2: I'm not saying that's the right choice, to be clear,
23:08
Speaker 2: but like.
23:08
Speaker 5: Do you mean like you could effectively do the same
23:11
Speaker 5: thing even if you're not putting it into suitranuation. But
23:14
Speaker 5: the added benefit of investing outside of Super is you
23:16
Speaker 5: can access it whenever you want to. And also you
23:19
Speaker 5: obviously can choose different things, like you can invest in
23:22
Speaker 5: whatever you like, whatever you're passionate about, and the ETFs
23:24
Speaker 5: and blah blah, and if you haven't listened to the
23:25
Speaker 5: investing series go Back, we have so many investing episodes.
23:28
Speaker 5: But I think I, personally, for those reasons, would opt
23:30
Speaker 5: to invest outside of SUPER.
23:32
Speaker 2: I think it's.
23:33
Speaker 5: Really great that you're even thinking about this, and I
23:35
Speaker 5: think if you can find the money to contribute regularly,
23:39
Speaker 5: that will ensure that you're effectively keeping up and not
23:42
Speaker 5: being put on the back foot too much.
23:44
Speaker 4: I think, yeah, yeah, I'd probably do the same as
23:48
Speaker 4: Jazz I mean, like, in an ideal world, I'd be
23:52
Speaker 4: putting money aside for literally anything. But yeah, my friend
23:57
Speaker 4: is doing a PhD in he's not getting sad much money,
24:00
Speaker 4: So I'm like, I don't even know. I guess if
24:01
Speaker 4: you are really really budget queen slash king, and you
24:06
Speaker 4: are able to still have money at the end of
24:09
Speaker 4: the day to put away, then yes, I agree. I
24:11
Speaker 4: would actually probably also invest money outside of super and
24:15
Speaker 4: then at the end of it, if that money still there,
24:17
Speaker 4: if you want to put it in super, you can
24:19
Speaker 4: do that. But yeah, I think having the access to
24:24
Speaker 4: that money just in case.
24:25
Speaker 2: That's a great point, like if something goes wrong or
24:27
Speaker 2: if money.
24:28
Speaker 4: Gets really tight exactly because it's yeah, it's it's it's
24:31
Speaker 4: tough out there on a it's really really cool that
24:34
Speaker 4: you have this. It's really cool the government does that.
24:35
Speaker 4: But yeah, it's not it's.
24:36
Speaker 2: Not a lot of probably not liverabol maybe. Yeah, So
24:40
Speaker 2: I would probably go back even further and talk about
24:44
Speaker 2: what are your savings looking like, do you have an
24:46
Speaker 2: emergency fund? If you have any free cash flow and
24:49
Speaker 2: your on a low income and you know that you
24:52
Speaker 2: know an electrical bill could pop up, you're already going
24:55
Speaker 2: through a PhD like that is so stressful, like the
24:58
Speaker 2: amount of work and time an energy that you're going
25:01
Speaker 2: to put into this, like make sure you have an
25:03
Speaker 2: emergency fund before we worry about our super And I
25:05
Speaker 2: know that that feels really backwards because you guys go, oh,
25:08
Speaker 2: but you care so much about it. I do. But
25:11
Speaker 2: I also think we put so much pressure on ourselves
25:14
Speaker 2: to be investing always, even when it doesn't make sense.
25:18
Speaker 2: Like if you were on three hundred thousand dollars, I'd
25:20
Speaker 2: be like, why aren't you contributing to super? Why aren't
25:24
Speaker 2: you investing? But if you're on thirty grand, like we're
25:28
Speaker 2: doing the best that we can, you can't say, oh
25:30
Speaker 2: my gosh, well you know you should be just investing
25:33
Speaker 2: ten percent of your income always, Like it just doesn't
25:35
Speaker 2: work that way, like percentage based budgeting. It just to
25:40
Speaker 2: me doesn't work anyway. I think if I was in
25:44
Speaker 2: their position, I'd be doing my budget. I'd be trying
25:46
Speaker 2: to put some cash away into an emergency fund while
25:49
Speaker 2: still being acutely aware of my SUPER. And then maybe
25:53
Speaker 2: in the future, because you are still young, I would
25:56
Speaker 2: go all right, well, when I finally get my you know,
25:58
Speaker 2: first job, outside of my PhD, where I haven't been
26:02
Speaker 2: able to invest in. You know, I've actually invested time
26:04
Speaker 2: into my education and time into my future career. I'm
26:08
Speaker 2: going to then maybe make some additional contributions to make
26:12
Speaker 2: up for the time that I was doing my PhD,
26:14
Speaker 2: so you don't have to put the pressure on yourself
26:16
Speaker 2: during this period of time. I think it's a bit
26:19
Speaker 2: risky if you were going to invest outside of superannuation
26:24
Speaker 2: with the background I guess knowledge that you might need
26:26
Speaker 2: that money, like, because I don't want you to ever
26:28
Speaker 2: have to sell down an investment and potentially lose money
26:31
Speaker 2: because you need to pay an electrical bill, or you know,
26:33
Speaker 2: you didn't have money for groceries, or you couldn't do
26:35
Speaker 2: weight trassing shifts because everything was too tough. I think
26:38
Speaker 2: that we should really be focusing just on cash flow
26:41
Speaker 2: and on savings and not so much on investing. I mean,
26:44
Speaker 2: if you find that free cash flow, get it, queen.
26:47
Speaker 2: But if that's not possible, I think we also need
26:50
Speaker 2: to take the pressure off ourselves and go we don't
26:53
Speaker 2: have to do everything all at once. See in fact,
26:54
Speaker 2: it's literally impossible. But as time goes on, you will
26:59
Speaker 2: become an investor, you will contribute more to superannuation and
27:02
Speaker 2: you will be financially secure because you're already thinking about
27:05
Speaker 2: it totally. And if you've got a doctorate, is that
27:08
Speaker 2: what it's called a doctorate? Yes, then we could assume
27:11
Speaker 2: that maybe you were making some big doctorate, so hopefully
27:20
Speaker 2: it kind of makes up. I love it, alright, I've
27:22
Speaker 2: got oh, I've got to spicey one and I have
27:25
Speaker 2: opinions and I'm going to hold my tongue until you've
27:27
Speaker 2: had yours. Are you ready for the DM of the week?
27:30
Speaker 4: Yes?
27:30
Speaker 2: All right, Hey girls, love your pod. I was wondering
27:34
Speaker 2: are you able to cover matched betting on the podcast?
27:39
Speaker 2: My partner is telling me he's going to get into
27:41
Speaker 2: it as a side hustle to earn more income. I
27:44
Speaker 2: don't really understand how it works, and I'm worried it's
27:46
Speaker 2: a scam or could result in bad gambling behaviors. He
27:50
Speaker 2: said he's done a lot of research into it and
27:52
Speaker 2: returns way more than the Australian shere market, which I
27:56
Speaker 2: find hard to believe. Do you know if this is
27:58
Speaker 2: a legitimate side hustle and is it safe? Thanks in advance?
28:02
Speaker 4: Well, I gotta tell you I was doing this for
28:07
Speaker 4: a little while. I do want to say, like, I know,
28:12
Speaker 4: I'm not absolutely not condoning gambling, but the time and
28:17
Speaker 4: energy and like intelligence you need. I didn't do this myself.
28:20
Speaker 4: A friend of mine showed me how to do it
28:21
Speaker 4: and told me explain it all to me. I stoldn't
28:23
Speaker 4: absorb it, but somehow I kept making money. Anyway. I
28:26
Speaker 4: know that it takes someone extremely smart to figure out
28:32
Speaker 4: all the odds and how to just like either break
28:35
Speaker 4: even or make money. And it's like the way I
28:37
Speaker 4: was doing it with my friend, I don't think it's allowed.
28:41
Speaker 4: Like we all got banned from all the platforms eventually, Wow,
28:45
Speaker 4: who saw that? I don't think it's a loud but
28:48
Speaker 4: I could maybe I listened talking about something else. But
28:51
Speaker 4: what I took from that is like, oh, yeah, I
28:52
Speaker 4: have done this. Yes I did make money and then
28:56
Speaker 4: I was banned, But I would probably not condone it
29:00
Speaker 4: simply because nothing's guaranteed. And if it was like if
29:06
Speaker 4: anyone could do that, if anyone could just figure out
29:08
Speaker 4: how to bet match, then like well all these gambling
29:12
Speaker 4: companies would just be out of pocket constantly. So I'm
29:15
Speaker 4: not to say that the listener's partner is not able
29:17
Speaker 4: to do that.
29:18
Speaker 2: But it's just risky. It's just risky.
29:20
Speaker 5: Jess what do you reckon? I cannot say this clearly enough.
29:23
Speaker 5: Gambling is not a side hustle, like.
29:26
Speaker 2: Not say it clear o, babe, gambling.
29:32
Speaker 5: I say this with love and I know that obviously
29:34
Speaker 5: this is the way that your partner has maybe pitched
29:36
Speaker 5: it to you, which I totally get, But it just
29:39
Speaker 5: is simply not a side hustle.
29:40
Speaker 2: Gambling is gambling.
29:41
Speaker 5: It is a high risk and I'll be honest, I
29:44
Speaker 5: don't know too much about match betting and how it works.
29:48
Speaker 2: VD.
29:48
Speaker 5: I feel like you're going to have a little bit
29:49
Speaker 5: more inside. But the biggest thing for me is I
29:56
Speaker 5: think that any from what I understand, it operates using
29:59
Speaker 5: ma be like the free bets that they offer or
30:02
Speaker 5: you know, get your money back if you whatever split
30:04
Speaker 5: you know how they do those things? Yes, that is marketing.
30:07
Speaker 5: And the reason that they these gambling companies are marketing
30:11
Speaker 5: to you is because they are relying on the fact
30:14
Speaker 5: that you'll get in, maybe win a little bit of money,
30:16
Speaker 5: get excited and start gambling more broadly, and they're going
30:19
Speaker 5: to get their money back.
30:21
Speaker 2: Like there's a.
30:21
Speaker 5: Reason that they offer you these freebies, and it's not
30:24
Speaker 5: out of the goodness of their heart. It's because they
30:25
Speaker 5: are trying to effectively get you addicted to gambling.
30:30
Speaker 2: Basically true. That can I say that? Is that? Yeah? Absolutely,
30:33
Speaker 2: you can say that because, like the truth sometimes isn't comfortable. Yeah, sotly.
30:38
Speaker 5: I just think that, you know, if you want to
30:42
Speaker 5: gamble with your money, that is your own prerogative. But
30:45
Speaker 5: I really really really need you to look at it
30:49
Speaker 5: through the lens of this is a high risk gambling activity.
30:52
Speaker 2: It is not a side hustle. Yeah, yeah, okay, can
30:56
Speaker 2: I have a turn? Please? Please? So why wouldn't victor
31:00
Speaker 2: where I agree with it? Because it's illegal is probably
31:03
Speaker 2: the first issue. Because it's illegal. Well, actually no, While
31:10
Speaker 2: match betting itself isn't illegal, the tactics that are required
31:14
Speaker 2: for you to be successful, like creating multiple accounts under
31:17
Speaker 2: fake names, they actually cross the line into I would
31:20
Speaker 2: say fraud territory, putting you at serious risk. There's a
31:24
Speaker 2: reason that you shouldn't be doing it. It's also against
31:28
Speaker 2: the terms and conditions of every single betting company worldwide.
31:33
Speaker 2: Match betting is not okay. What is match betting. I
31:36
Speaker 2: hear a lot of people asking, so it's essentially using
31:40
Speaker 2: online gambling slash betting websites, you know how they often say,
31:44
Speaker 2: we'll give you ten dollars to sign up and bet
31:46
Speaker 2: for free. Yeah, so it's essentially using the betting website's
31:50
Speaker 2: free bet offer to make money. So, for example, you're
31:54
Speaker 2: going to use their free ten dollars as a welcome
31:56
Speaker 2: to the betting company, and you're gonna bet on an
31:59
Speaker 2: AFL game, right, You're going to bet on a footy
32:01
Speaker 2: game and you're going to bet that you know, the
32:04
Speaker 2: Brisbane lines win. Right. Then on a different betting website,
32:09
Speaker 2: you're going to bet another ten dollars of your own
32:12
Speaker 2: money that the Brisbane lines loose.
32:14
Speaker 5: Oh.
32:16
Speaker 2: So the software then works out the most evenly matched
32:19
Speaker 2: odds and potentially you're going to make up to another
32:22
Speaker 2: ten dollars of profit. So you keep doing that, rins
32:25
Speaker 2: and repeat. You're using free money to make money, and honestly,
32:30
Speaker 2: a lot of people say it's easy. I don't think
32:33
Speaker 2: it is because there's a lot of complexity. There's a
32:36
Speaker 2: lot of risk doing it because obviously if somebody else
32:39
Speaker 2: gets involved or they're betting genuinely like that's going to
32:42
Speaker 2: mix up your odds, Like it's actually it's so bad,
32:46
Speaker 2: but yes, it is against the terms and conditions, which
32:49
Speaker 2: beck is why you got banned from the comments because
32:54
Speaker 2: they didn't like it. They also use a lot of
32:56
Speaker 2: spyware software because it is legal and it impacts their
32:59
Speaker 2: business negatively, Like a betting website is going to share
33:03
Speaker 2: that with other betting websites, so you've probably been banned
33:05
Speaker 2: from a lot of them because they're like, this user
33:08
Speaker 2: surely does this. Where does the illegal component come in?
33:11
Speaker 5: Though?
33:12
Speaker 2: Because like the government doesn't care if you sign up
33:13
Speaker 2: a new someone's free ten bucks to gamble, right, it
33:16
Speaker 2: actually relies on you opening a heap of different accounts
33:21
Speaker 2: so that you can bet against yourself. And you can't
33:24
Speaker 2: have multiple accounts in your own name because the betting
33:27
Speaker 2: companies don't let you. They only let you have one.
33:30
Speaker 2: You are committing fraud. You are committing fraud by opening
33:35
Speaker 2: multiple platforms, and I feel like that's probably not something
33:39
Speaker 2: that we want to do. So in order to be successful,
33:43
Speaker 2: you're going to need multiple accounts.
33:45
Speaker 5: Yeah, Like, so you're gonna I'm I'm Jessica and tomorrow
33:47
Speaker 5: I'm Pessica. Yeah, like just making a heap of different
33:52
Speaker 5: differently exactly.
33:53
Speaker 2: So obviously there's that risk. There's the risk of obviously
33:57
Speaker 2: making an error and losing mon. There's the risk of
34:01
Speaker 2: you being fined. There's the risk of you know, obviously,
34:06
Speaker 2: it's just not coming out in the wash. I feel
34:09
Speaker 2: like lots of people in this space, they're like, it's
34:11
Speaker 2: so good, like please don't get me wrong, Like at
34:13
Speaker 2: the end of the day, it's just it's not a
34:15
Speaker 2: good idea. But a few people replied to our stories
34:18
Speaker 2: to be completely transparent, said I made one thousand dollars
34:20
Speaker 2: from this during lockdown. I made a couple of grand
34:23
Speaker 2: from this. You know, each to their own. But it
34:25
Speaker 2: is not ethical. It is not legal betting and gambling
34:29
Speaker 2: is not a side hustle. It's not something I would
34:31
Speaker 2: ever recommend. But I mean, I feel like it's missi
34:35
Speaker 2: of me not to share that. Yes, it has quote
34:39
Speaker 2: worked for some people. They're now banned from those platforms though,
34:42
Speaker 2: Like a lot of the people I reply, I'll entertain
34:45
Speaker 2: the conversation like no shame, Like you can tell me
34:47
Speaker 2: anything and I'm not going to judge you, but I'll
34:49
Speaker 2: be like, Okay, tell me about that like, how did
34:51
Speaker 2: that work? What did that look like? And they're like, yeah, yeah,
34:53
Speaker 2: I did it until I got banned from the account
34:55
Speaker 2: and then I tried to make other accounts and like
34:57
Speaker 2: I'm banned from literally every platform, and I'm like not surprised,
35:00
Speaker 2: sorry about that. I think it's also a slippery slope
35:05
Speaker 2: completely like such as you were saying, just such a
35:08
Speaker 2: slippery slope. Like estimates. I've done some research as well,
35:12
Speaker 2: because I knew this question was coming, But estimates suggest
35:14
Speaker 2: that Australians lose approximately twenty five billion dollars on legal
35:20
Speaker 2: forms of gambling each year legal forms, and we all
35:24
Speaker 2: know that there are lots of illegal ones and that
35:26
Speaker 2: represents the largest per capital loss in the world. Whoa
35:31
Speaker 2: they We're a big gambling we are a massive gambling nation,
35:35
Speaker 2: like and that's fine, each to their own. I feel
35:38
Speaker 2: like Australians love a punt. That is definitely a part
35:41
Speaker 2: of our culture. But I think it's really important to
35:45
Speaker 2: realize that this is not a side hustle. I don't care.
35:49
Speaker 2: It feels like multi level marketing. It feels like obviously,
35:54
Speaker 2: if someone's doing it, they want you to do it,
35:56
Speaker 2: they want you to join in you can make some
35:57
Speaker 2: money back. And that's exactly what happened. I'm not saying
36:00
Speaker 2: that your friend's a bad person, but your friend definitely
36:03
Speaker 2: wasn't doing the right thing. But then was also like, oh,
36:06
Speaker 2: but it made me money. You could do the same thing,
36:07
Speaker 2: beck And like, the second you learn something about how
36:10
Speaker 2: to make some extra cash, I'm to share with my friends.
36:12
Speaker 2: I literally have a podcast. I am obsessed with sharing
36:16
Speaker 2: how you can make some extra money. But this, my friend,
36:19
Speaker 2: isn't it. I think then, also it's important to recognize
36:24
Speaker 2: that people in our community, so younger people aged between
36:28
Speaker 2: the ages of eighteen to thirty are usually twice as
36:31
Speaker 2: likely to be problem gamblers than those who are older.
36:34
Speaker 2: We are a lot more about instant gratification. So that
36:37
Speaker 2: makes a lot of sense. And I guess when it
36:39
Speaker 2: comes to would you say, like the psychological impact or
36:42
Speaker 2: the psychological harm, There's some research that says that forty
36:47
Speaker 2: to sixty percent of problem gamblers in treatment samples experience
36:52
Speaker 2: clinical depression, display suicidal ideation, or have significant levels of anxiety. Yeah,
37:00
Speaker 2: like you might not when you go into it, but
37:02
Speaker 2: like it's going to put you on a very negative
37:06
Speaker 2: mental pathway. Other people in that same study reported that
37:10
Speaker 2: they put off activities or they neglected their families because
37:13
Speaker 2: of gambling, and most report that they had lied to
37:17
Speaker 2: family members or engaged in furaitive activities, so that they
37:21
Speaker 2: were basically concealing the extent of their gambling or whatever
37:24
Speaker 2: losses they had incurred. Now, I obviously went online because
37:29
Speaker 2: I just I feel like this is something I'm wildly
37:31
Speaker 2: passionate about, and there seems to be a lack of
37:33
Speaker 2: financial literacy around this. And I got a few quotes
37:38
Speaker 2: from people who had been betmatching, and I think that
37:42
Speaker 2: I want to share them. So one person said, I
37:45
Speaker 2: got into match betting a year ago and now I
37:47
Speaker 2: have a minor slot's habit. Someone else said, if you
37:51
Speaker 2: calculate something wrong, it can sting. And you also end
37:55
Speaker 2: up watching sports, so that can kind of trade out
37:58
Speaker 2: positions and lock in profit times, So watching as a
38:01
Speaker 2: fan kind of tails off. It doesn't become enjoyable anymore.
38:05
Speaker 2: Plus sometimes you really really cheer for a horse to lose.
38:09
Speaker 2: That's not actually very nice. Oh, and it's really time consuming.
38:14
Speaker 2: You want to be making actual money, not just ten
38:16
Speaker 2: bucks here and there, so you need to be prepared
38:18
Speaker 2: to put in a lot of work. It's not worth it. Yeah,
38:22
Speaker 2: someone else said. One thing I dislike about match betting
38:25
Speaker 2: is people saying it's risk free. Bets can be canceled,
38:29
Speaker 2: you can make mistakes, for example, if you're laying long odds,
38:33
Speaker 2: then the liability can be massive. There's just so much
38:37
Speaker 2: to this. I mean, I obviously am very passionate about
38:41
Speaker 2: financial literacy and people being in the best possible position,
38:44
Speaker 2: but I feel like gambling is a massive issue, and
38:48
Speaker 2: gambling related. I guess harm doesn't just affect the person
38:52
Speaker 2: doing the gambling, but also their families, their peers, their work,
38:55
Speaker 2: their career, lost productivity. Like, there's so many negative impacts.
39:00
Speaker 2: But Jess, you said it loud and clear, gambling is
39:03
Speaker 2: not a side hustle, full stop. End of story. I
39:05
Speaker 2: don't know how much clearer I can be, and I
39:07
Speaker 2: don't particularly feel as though this is a situation where
39:13
Speaker 2: I have to be really kind. Your boyfriend shouldn't be
39:16
Speaker 2: doing this, Yeah, end of story. You can share this
39:19
Speaker 2: episode with him, But I also recommend, and we'll put
39:22
Speaker 2: in the show notes a link to Gambler's help. I
39:25
Speaker 2: would give them a buzz and just have a chat
39:27
Speaker 2: and look, look some stuff up online. See what it's like.
39:29
Speaker 2: It's it's not a good idea.
39:31
Speaker 5: Yeah, it's an industry that prays on and relies on
39:35
Speaker 5: you losing. Like how they're up twenty five billion dollars
39:38
Speaker 5: across Australia. And if you want more information on the
39:41
Speaker 5: broader impacts of that, we did a really good episode
39:43
Speaker 5: a few years ago called The Impacts of Gambling. I
39:45
Speaker 5: would really highly recommend that BECAUSEVD in that episode you
39:48
Speaker 5: gave a lot more broader context into the psychology of
39:51
Speaker 5: additional resource suggestions and stuff like that, So it could
39:54
Speaker 5: be a good listen before count a conversation with your partner.
39:57
Speaker 2: There's a lot to uncover. We also did ask the
40:00
Speaker 2: commuknew about it, but I felt like I needed to
40:01
Speaker 2: go on a little BD rant before I shared community
40:05
Speaker 2: sentiment because obviously being like, actually you shouldn't be doing
40:08
Speaker 2: this before people were like, yeah, sounds good because you
40:11
Speaker 2: just don't know what you don't know, right, And it's
40:13
Speaker 2: like you bet you were like, wait, what, I'm not
40:15
Speaker 2: meant to be doing that of courst because do you
40:17
Speaker 2: know who's going to read the terms and conditions of
40:19
Speaker 2: any website?
40:20
Speaker 5: Me?
40:21
Speaker 2: Who's not?
40:21
Speaker 5: You?
40:21
Speaker 2: Guys? Because it's boring, like why bother totally? We asked
40:25
Speaker 2: the community, what are your thoughts on this as a
40:27
Speaker 2: money making strategy? One percent of you said looks legit,
40:31
Speaker 2: thirty three percent of you said we'd need some serious research,
40:35
Speaker 2: and sixty six percent of you said it's giving Red
40:37
Speaker 2: Flag energy agreed. We then asked the question, would you
40:42
Speaker 2: be comfortable with your partner taking up gambling as a
40:44
Speaker 2: money making strategy? Two percent said it's their choice. I
40:49
Speaker 2: couldn't fall into it, Like, and I'm not judging you,
40:51
Speaker 2: that's fine, but like if my partner did that, I'd
40:54
Speaker 2: be like, get it off, delete it, but I'd be
40:57
Speaker 2: such a little troll. Fourteen percent of you said yeah,
41:00
Speaker 2: with limits, and eighty four percent of you said nuts,
41:02
Speaker 2: too risky. We then went to the community and said
41:05
Speaker 2: give us you two cents. So. One person said, I'm
41:10
Speaker 2: really strong social views on gambling would show me that
41:13
Speaker 2: our values aren't aligned.
41:15
Speaker 5: Yeah.
41:16
Speaker 2: Someone else said, after my mother in law lost everything,
41:19
Speaker 2: including the family home my husband grew up in, gambling
41:22
Speaker 2: is a hard note for me. Someone else said, the
41:25
Speaker 2: definition of betting is literally the act of gambling. Yeah,
41:30
Speaker 2: Red Flag. Another person said, those companies don't report massive
41:35
Speaker 2: profits for no reason. Right, Yeah, literally totally Yeah, Like
41:39
Speaker 2: we are then getting their profits from you, my friend,
41:41
Speaker 2: their source of income. Someone else said there's a reason
41:45
Speaker 2: the government puts out warning ads and labels when it
41:48
Speaker 2: comes to gambling. And last one I'm going to share
41:51
Speaker 2: is it's also much more time consuming than just investing
41:55
Speaker 2: in shares. Yeah yeah, true, men. Amen. Also great idea
41:59
Speaker 2: in test properly gambling is not a side hustle. I
42:02
Speaker 2: think we'll leave it there this week before I go
42:05
Speaker 2: even all worked up about it. Just look for yourselves.
42:08
Speaker 2: You deserve better. Yeah, totally agreed. Amen. All right, Well,
42:11
Speaker 2: have a good week. If you haven't left us a
42:14
Speaker 2: review for us to share on the pod, please consider
42:18
Speaker 2: doing so. Definitely subscribe to make sure you don't miss
42:21
Speaker 2: an episode. And if you haven't joined our Facebook group,
42:23
Speaker 2: my friend, now is the time to shine. We have
42:25
Speaker 2: these conversations and even spiceo ones in there every single week.
42:30
Speaker 2: We'll see you next week, guys, Bye, guys.
42:32
Speaker 4: Bye.
42:38
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42:41
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42:45
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