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Would You Accept Cash With a Catch? · She's On The Money

• 0:00
  Speaker 1: Hello, my name is Santasha Nabananga Bamblet. I'm a proud
• 0:04
  Speaker 1: Order Order Kerney 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. Do you
• 1:00
  Speaker 4: have some millennials who want financial freedom? Today? My friends,
• 1:03
  Speaker 4: it is Friday, which means it is time to get
• 1:05
  Speaker 4: our ten year little team together to celebrate you. Ow incredible.
• 1:09
  Speaker 4: She's on the Money community today, msters Greed. She's going
• 1:12
  Speaker 4: to be sharing some of her favorite money wins. Bex
• 1:15
  Speaker 4: I Ed has a money win that she's stolen from
• 1:17
  Speaker 4: Miss Jess Grici, which, honestly, I feel like you're just
• 1:20
  Speaker 4: good at getting other people to do your homework.
• 1:23
  Speaker 2: Yeah, I'm really good at it.
• 1:25
  Speaker 4: Yeah, that's true. It's true. We have a juicy money dilemma,
• 1:28
  Speaker 4: which this week is all about weather. You should be
• 1:30
  Speaker 4: removing purchase conditions when you're bidding for a property to
• 1:33
  Speaker 4: give you a better shot at home ownership. And we're
• 1:36
  Speaker 4: gonna unpack something that you slid into our DMS about
• 1:38
  Speaker 4: this week. You asked about accepting money with conditions, which
• 1:44
  Speaker 4: gives me the ick and I can't wait to answer that.
• 1:46
  Speaker 4: But before we get there, Ah, Gus Grechi, how was
• 1:49
  Speaker 4: your birthday?
• 1:49
  Speaker 2: We it is wonderful.
• 1:51
  Speaker 5: We went out for dinner, we went shopping. James bought
• 1:55
  Speaker 5: me a jelly cat, which is very exciting.
• 1:58
  Speaker 4: Actually, yeah, I saw on your Instagram you went to
• 2:00
  Speaker 4: the jelly Cat shop and I was, okay, really envious.
• 2:03
  Speaker 4: So cute.
• 2:04
  Speaker 5: I got the two little marshmallows adorable, Oh you did?
• 2:07
  Speaker 4: Yeah?
• 2:08
  Speaker 5: It was aolsome weekend, like nothing crazy, but just feeling
• 2:11
  Speaker 5: very loved and happy. And I love.
• 2:13
  Speaker 4: Hazy inside and the marshmallows.
• 2:16
  Speaker 5: Yeah, they're actually adorable.
• 2:18
  Speaker 4: How are you putting them?
• 2:19
  Speaker 5: I was gonna put them on my bedside table, but
• 2:21
  Speaker 5: then on the drive hand I had them sitting like
• 2:23
  Speaker 5: on top of my dashboard. Is their little legs were.
• 2:26
  Speaker 4: Hanging over cud.
• 2:29
  Speaker 5: Yeah, okay, they live in the car now, yeah, that's
• 2:31
  Speaker 5: the why they're going to go.
• 2:32
  Speaker 4: So no, I love it. I love it.
• 2:33
  Speaker 2: They're cute.
• 2:35
  Speaker 4: How's your week being really nice?
• 2:36
  Speaker 2: Actually, I know you asked me this off and I
• 2:39
  Speaker 2: was like, I did nothing, But then I remember that
• 2:41
  Speaker 2: I did many things. I went to the that magical
• 2:45
  Speaker 2: like Harry Potter. It was actually really good. But I
• 2:49
  Speaker 2: also went to LightScape like a week earlier, and I'm like, oh,
• 2:53
  Speaker 2: it was hard on to beat, and I don't know
• 2:54
  Speaker 2: that it fully did. But I also have never really
• 2:56
  Speaker 2: watched Harry Potter. So I think if you had watched
• 2:58
  Speaker 2: Harry Potter, I'm sorry, what disgrace to millennials everywhere. I
• 3:03
  Speaker 2: know that's disgusting, I know, but I mean, like, what
• 3:11
  Speaker 2: do you mean you make time for Harry Potter? Was
• 3:13
  Speaker 2: like this, it was one hundred fifty hours to watch.
• 3:16
  Speaker 4: Yeah, one hundred and fifty hours well spent.
• 3:19
  Speaker 5: Yes, suppose have you seen those cinemas that do like
• 3:22
  Speaker 5: every couple of years, they'll do like a marathon where
• 3:24
  Speaker 5: you can like bring like a blanket and they do
• 3:27
  Speaker 5: like all the episodes back to.
• 3:28
  Speaker 4: Back I have ADHD. I could never Yeah, that's right.
• 3:32
  Speaker 4: It is really sweet. You could do that in your house,
• 3:34
  Speaker 4: in your made up cinema.
• 3:35
  Speaker 2: Yeah, totally. I was literally thinking about that.
• 3:38
  Speaker 5: That would be cute.
• 3:38
  Speaker 2: Yeah, that would be cute.
• 3:39
  Speaker 4: I feel like you would like Harry Potter.
• 3:41
  Speaker 2: Yeah, I think I would too. It's quite magical, isn't it.
• 3:44
  Speaker 4: Yeah, Like I think you would like it, and then
• 3:45
  Speaker 4: I think you would get involved with the paraphernalia that
• 3:48
  Speaker 4: comes with it, Like I think you'd be like, I
• 3:49
  Speaker 4: want to try it, but it be like.
• 3:51
  Speaker 2: What I'm scared of this scale a one? Yeah? Yeah,
• 3:54
  Speaker 2: I know what else they do sell ones? There? This
• 3:57
  Speaker 2: magical thing and do they actually?
• 3:59
  Speaker 6: Yeah?
• 4:00
  Speaker 2: And I thought like if I was into this little
• 4:01
  Speaker 2: bit more, this would be my dream. So it was
• 4:03
  Speaker 2: really cool actually really.
• 4:04
  Speaker 4: Oh my gosh. That brings flashbacks back when I was young.
• 4:07
  Speaker 4: I would have been like twelve or thirteen. We went
• 4:10
  Speaker 4: and we drove to Queensland for a family holiday and
• 4:13
  Speaker 4: we went to Movie World and they had the Harry
• 4:15
  Speaker 4: Potter World at Movie World at that point in time,
• 4:18
  Speaker 4: and my parents bought me a wand wow, and it
• 4:20
  Speaker 4: was like the coolest thing I ever had, and my
• 4:23
  Speaker 4: sister got one too, and we used to fight over
• 4:25
  Speaker 4: each other's wants. I wanted to because clearly hers was
• 4:29
  Speaker 4: much better than mine.
• 4:31
  Speaker 2: Totally, it just feels magical. I can imagine holding a water.
• 4:33
  Speaker 4: Pool, especially as a kid, like having a Harry Potter
• 4:37
  Speaker 4: wand Harry Potter World. Laura's a thirty year old. Really, hey,
• 4:43
  Speaker 4: you know what you do you let's get into today's
• 4:46
  Speaker 4: episode even further. I want to know, mister Sakricci, if
• 4:50
  Speaker 4: you've got some money wins all confessions from our community
• 4:53
  Speaker 4: to share.
• 4:53
  Speaker 5: What a coincidence. I just so happened to have some
• 4:56
  Speaker 5: that I prepared earlier.
• 4:57
  Speaker 4: I did not see that coming.
• 4:59
  Speaker 5: My first on this week is from Imagen, who said
• 5:01
  Speaker 5: she had to go at making bread on the weekend.
• 5:04
  Speaker 5: She's so happy with how it turned out. It's really
• 5:06
  Speaker 5: easy to make and it costs her less than two
• 5:08
  Speaker 5: bucks a loaf, so she's thinking about doing it regularly
• 5:11
  Speaker 5: rather than buying it from.
• 5:12
  Speaker 2: The sleeper market.
• 5:13
  Speaker 4: And the processed with that, and there is a photo
• 5:15
  Speaker 4: of her perfect loss.
• 5:16
  Speaker 2: Oh my gosh, that's perfect.
• 5:17
  Speaker 5: It'd immaculate.
• 5:18
  Speaker 2: Can you try your hand and then make a perfect.
• 5:21
  Speaker 4: Long Literally that's actually quite rude. Do you know what's
• 5:24
  Speaker 4: a really really good money win. I mean Image, and
• 5:26
  Speaker 4: I'm so sorry to trump you on this, but my
• 5:29
  Speaker 4: dad has recently gotten into making bread. So now whenever
• 5:32
  Speaker 4: I go and see my parents, I come home with
• 5:34
  Speaker 4: a loaf of bread for free and it's homemade and
• 5:36
  Speaker 4: it's delicious. And he's like, I've been, you know, trying
• 5:39
  Speaker 4: out this ryce sour dough and I'm like, no worries,
• 5:41
  Speaker 4: I'll take whatever you're giving.
• 5:43
  Speaker 5: Yeah, I feel like nothing quite hits like fresh bread
• 5:47
  Speaker 5: and it's wholesome.
• 5:48
  Speaker 4: But imagen, it's so much cheaper. Even my dad was
• 5:51
  Speaker 4: talking about how he can make like this rice sour
• 5:53
  Speaker 4: dough for like two dollars a loaf, and now at
• 5:56
  Speaker 4: the bakery it's like eight or nine.
• 5:58
  Speaker 5: Crazy very good skill from Image in there. Next, I've
• 6:02
  Speaker 5: got a money win from Anna, who said she has
• 6:04
  Speaker 5: a manifestation money win and that I would be proud.
• 6:07
  Speaker 5: She said she wanted a certain bunk bed for the
• 6:10
  Speaker 5: kids and she only had a certain budget for it,
• 6:13
  Speaker 5: so she was manifesting a second hand one for two
• 6:16
  Speaker 5: hundred bucks that she wanted to pay, and then they
• 6:19
  Speaker 5: managed to find it.
• 6:20
  Speaker 4: Oh my god.
• 6:20
  Speaker 5: Apparently then normally fifteen hundred.
• 6:22
  Speaker 4: Dollars two hundred dollars down to two hundred dollary due.
• 6:26
  Speaker 5: Scored it on Facebook market place. Well done, Anna, I
• 6:29
  Speaker 5: am indeed proud of you. Next, I've got money win
• 6:32
  Speaker 5: from Sophie, who said she hasn't used her credit card
• 6:34
  Speaker 5: or her after pay, you know, for a month. Oh
• 6:37
  Speaker 5: Queen mab well done, Sophie. That's such a hard habit
• 6:40
  Speaker 5: to break. Yeah, that's really awesome. Well done to you.
• 6:43
  Speaker 5: Vicki said she used Velocity points instead of money this
• 6:47
  Speaker 5: month to book some flights. It would have been six
• 6:50
  Speaker 5: hundred dollars for her daughters to fly down to Melbourne,
• 6:52
  Speaker 5: but instead she just had to pay the taxes, which
• 6:55
  Speaker 5: was one hundred and thirty four.
• 6:56
  Speaker 4: Oh my gosh, mry Win.
• 6:57
  Speaker 5: Well done.
• 6:58
  Speaker 4: Like we've gone back to like the early two thousands
• 7:01
  Speaker 4: when you could get like forty nine dollar flights. Oh
• 7:04
  Speaker 4: do you remember those days? You'd like get on Virgin
• 7:06
  Speaker 4: and be like yeah, this was like forty nine dollars.
• 7:08
  Speaker 5: Yeah, like what if only? Next, I've got money in
• 7:12
  Speaker 5: from Hailey, who said she got a free bassinet and bouncer,
• 7:15
  Speaker 5: as well as some baby bedding from her friend whose
• 7:17
  Speaker 5: child had outgrown everything.
• 7:19
  Speaker 4: Which how good is that circular.
• 7:21
  Speaker 5: Economy within friendships. I know that I've said it before,
• 7:23
  Speaker 5: but I'm so all about it. I think that is
• 7:25
  Speaker 5: the best money when you can have and then if
• 7:26
  Speaker 5: you get if you have another baby, they can just
• 7:28
  Speaker 5: give it.
• 7:28
  Speaker 4: Back one hundred percent. If you see Harvey in anything
• 7:31
  Speaker 4: cute in the next couple of months, Thanks Steph. She
• 7:34
  Speaker 4: dropped off all of her sons stuff that he had
• 7:37
  Speaker 4: grown out of. I've got all this cute baby stuff. Also,
• 7:40
  Speaker 4: babies use things for zero point two seconds, so they're
• 7:43
  Speaker 4: basically brand new. What the heck?
• 7:45
  Speaker 5: Yeah, so good. And then on the similar vein, Tash
• 7:48
  Speaker 5: said her friend was going away for the weekend and
• 7:50
  Speaker 5: she gave her a heap of food that they had
• 7:52
  Speaker 5: in their fridge that was gonna go bad while they
• 7:53
  Speaker 5: were away.
• 7:54
  Speaker 4: Oh money, we.
• 7:54
  Speaker 5: Didn't need to do a food chop this week.
• 7:56
  Speaker 4: I love that. I feel like more people should do
• 7:58
  Speaker 4: that before they go on holiday. I'm talking to me
• 8:01
  Speaker 4: when I say that holiday, and I was like, oh,
• 8:05
  Speaker 4: this is so disappointing. Like there was a whole yogurt
• 8:08
  Speaker 4: in our fridge. No, but like the tub, like the
• 8:13
  Speaker 4: that we hadn't even opened yet, and I went to
• 8:15
  Speaker 4: have a look because like, I'm definitely I don't know
• 8:17
  Speaker 4: about you. I know Jess would never but like I'll
• 8:20
  Speaker 4: do the sniff test. If it smells fine, we're eating it, Jess.
• 8:23
  Speaker 4: If the dates out like it's already out the house,
• 8:25
  Speaker 4: it makes me nervous.
• 8:26
  Speaker 2: Yeah, that's fair, which is so fine.
• 8:28
  Speaker 4: But like I sniffed the o yet, it wasn't an option.
• 8:32
  Speaker 5: Eating dairy for me is already risky as a lactosey
• 8:34
  Speaker 5: tolerant girl.
• 8:39
  Speaker 4: That's so fair. That is so fair.
• 8:41
  Speaker 5: Lastly, one more money win, A simple one, but a
• 8:43
  Speaker 5: good one from Nat. She said she's paid down three
• 8:45
  Speaker 5: of her debts and she's got three to go, so
• 8:47
  Speaker 5: she's officially over the halfway mark.
• 8:50
  Speaker 4: How exciting done, You're on up? How good you all?
• 8:56
  Speaker 2: Right?
• 8:56
  Speaker 4: Well those were really good money wins. But I feel like, Beg,
• 8:59
  Speaker 4: you might have like a stolen broke tip or two.
• 9:02
  Speaker 2: Yeah, I've got a couple. I got a couple of
• 9:03
  Speaker 2: stolen broke tips.
• 9:04
  Speaker 4: Broke tips still steal money wins.
• 9:07
  Speaker 2: And I'll start with two from the community. The first
• 9:10
  Speaker 2: one comes from one of our community members who says, Hi, back,
• 9:13
  Speaker 2: this is I feel like Jessic, you might like this one.
• 9:15
  Speaker 2: It's very similar to my plane broke tip, where I
• 9:18
  Speaker 2: say I wear.
• 9:19
  Speaker 4: Or Okay, I don't know where this is going.
• 9:23
  Speaker 2: Then well this is like actually a bit of a
• 9:25
  Speaker 2: life hack but also a broke tip if you're really
• 9:29
  Speaker 2: trying to save on. Yeah, let's say, is.
• 9:32
  Speaker 4: This going to be funny? We're going to get a
• 9:33
  Speaker 4: snorty laugh out of Jess because I am for that.
• 9:36
  Speaker 2: You know it is rare. I don't know that I'll
• 9:39
  Speaker 2: get it this time.
• 9:40
  Speaker 4: But this the time you wore like seven pairs fun
• 9:43
  Speaker 4: to wear onto.
• 9:44
  Speaker 2: The true that's still funny.
• 9:47
  Speaker 4: That's still funny.
• 9:48
  Speaker 2: Doesn't want its magic, Jess.
• 9:49
  Speaker 4: You could have just put them in your pockets.
• 9:52
  Speaker 2: Okay, how I got for them anywhere? But wearing them
• 9:56
  Speaker 2: feels better. It's very cushy. So these community members as
• 10:00
  Speaker 2: following on from that episode, I just cackled about you
• 10:03
  Speaker 2: wearing multiple clothes. You can also find like a neck
• 10:06
  Speaker 2: pillow that has a washable sleeve. Remove the pillow and
• 10:10
  Speaker 2: stuff it with your underwear, your socks, whatever. It's functional,
• 10:14
  Speaker 2: and you also now have a plumped up neck pillow
• 10:17
  Speaker 2: you can use on the plane.
• 10:18
  Speaker 4: Hey, that's quite smart.
• 10:20
  Speaker 1: Such.
• 10:21
  Speaker 4: I feel like that's genius because I've seen on TikTok
• 10:25
  Speaker 4: people suggesting that you get a quote pillow and fill it.
• 10:28
  Speaker 4: But they're gonna pick you up on that. Like people
• 10:30
  Speaker 4: on TikTok are saying, oh, I got caught and they
• 10:32
  Speaker 4: measured it and they had to pay for it. In addition,
• 10:34
  Speaker 4: they're not a pillow the neck pillow that's super.
• 10:37
  Speaker 2: Sillily that really just wear it around your neck. You
• 10:39
  Speaker 2: wouldn't even notice. It's a light.
• 10:41
  Speaker 4: And then if they say is that a pillow, be like, no,
• 10:43
  Speaker 4: it's an accessory. That's my outfit.
• 10:44
  Speaker 2: Yeah, what are they going to do?
• 10:46
  Speaker 5: Take the pillow off your neck? Surely not. That's a
• 10:50
  Speaker 5: good one.
• 10:51
  Speaker 2: That's really smart. We didn't get a snort laugh and
• 10:54
  Speaker 2: that's quite a right. The next one comes from Nadine,
• 10:57
  Speaker 2: who has sent me a real like and do you
• 11:00
  Speaker 2: guys want me to like say.
• 11:01
  Speaker 4: I mean, we're want the link, but tell us what
• 11:03
  Speaker 4: happens in the real Yeah, of course, so interpretive dance
• 11:07
  Speaker 4: as a form of showing us it's not going to
• 11:08
  Speaker 4: work on the podcast, so you could just tell true.
• 11:10
  Speaker 2: I mean, we can put it up on stories. But
• 11:12
  Speaker 2: it's from Nadine, but she sent me this reule that
• 11:14
  Speaker 2: is the page is the food Inbox, and this person
• 11:17
  Speaker 2: has shown us how they've made a week's worth of
• 11:19
  Speaker 2: food for two people for fifty.
• 11:21
  Speaker 4: Dollars and it's a good deal.
• 11:24
  Speaker 2: And I know that, Like you know, obviously the listeners
• 11:26
  Speaker 2: can't see this right now, but I'm looking at it
• 11:28
  Speaker 2: and it looks like it's full of vegetables, fruits, really
• 11:31
  Speaker 2: really good food. These look like really decent, generous sized
• 11:35
  Speaker 2: portions for a whole week. Fifty bucks fifty So what
• 11:40
  Speaker 2: we see the name the food Inbox?
• 11:43
  Speaker 4: All right, we'll go check it out. I love saying
• 11:44
  Speaker 4: it wrong. I love that. Now, what is your broke
• 11:46
  Speaker 4: tip of the week?
• 11:47
  Speaker 2: So my one comes from myself and maybe.
• 11:52
  Speaker 4: Definitely not just.
• 11:55
  Speaker 2: So, Jess, you went to pancake parlor.
• 11:58
  Speaker 4: So it was like that's it was like a really
• 12:00
  Speaker 4: good time.
• 12:01
  Speaker 2: Sound like good times. I was like an expensive time
• 12:03
  Speaker 2: and you were like, no, Actually, in winter, when the
• 12:07
  Speaker 2: temperature of I'm assuming the city that you're in drops
• 12:10
  Speaker 2: below a certain point, the winter warmer menu is half price.
• 12:14
  Speaker 4: How good is that?
• 12:15
  Speaker 2: That's really cute?
• 12:17
  Speaker 4: I love that, and I mean, we're definitely not sponsored
• 12:19
  Speaker 4: by pancake parlot. I'm about to say that, yeah, same,
• 12:22
  Speaker 4: because I can't afford to eat there, Like I feel
• 12:25
  Speaker 4: like it is like fine dining prices nowadays, Like you
• 12:28
  Speaker 4: go and you're like I thought the pancake parlor was
• 12:30
  Speaker 4: like cheap, cheerful, like twenty four hours, like you can
• 12:33
  Speaker 4: get pancakes at any time. We went a little while ago.
• 12:37
  Speaker 4: Actually it would have been like a year or two ago.
• 12:39
  Speaker 4: Jess do you remember the time they dragged our entire
• 12:41
  Speaker 4: team to the pancake parlor to watch the budget?
• 12:43
  Speaker 5: Oh my god, Yeah, that was so funny.
• 12:46
  Speaker 2: That's cute.
• 12:47
  Speaker 4: And I was like, oh, by everyone pancakes because I
• 12:49
  Speaker 4: needed to find in my head something engaging to get
• 12:51
  Speaker 4: everybody else in the team excited about watching federal budget.
• 12:55
  Speaker 4: Turns out, no one cared. They were there for pancakes
• 12:59
  Speaker 4: that cost me so much money because I can imagine
• 13:02
  Speaker 4: the pancakes is like twenty five minimumcakes.
• 13:06
  Speaker 5: I added a side of strawberries on ones, and the
• 13:08
  Speaker 5: side of strawberries was ten dollars.
• 13:10
  Speaker 2: It was the next time, I'm just going to.
• 13:12
  Speaker 5: Bring my own little top strawberry Like absolutely not.
• 13:17
  Speaker 4: I just I can't fathom it because in my head.
• 13:19
  Speaker 4: It used to be cheap and cheerful. Yeah, but it
• 13:21
  Speaker 4: can be only if it's cold enough.
• 13:23
  Speaker 5: Yeah, and anytime it's under ten degrees, under ten degrees.
• 13:27
  Speaker 4: And it's like winter, So that's happening a lot.
• 13:29
  Speaker 2: Is that a high of ten or just ten at
• 13:31
  Speaker 2: any point in the day.
• 13:32
  Speaker 5: I think it's when it hits ten degrees, so like
• 13:34
  Speaker 5: morning or evening usually like we went or post dinner snack.
• 13:38
  Speaker 4: I like it. I'm going to check the temperature before
• 13:40
  Speaker 4: I have a craving for pancakes.
• 13:42
  Speaker 2: Yeah, I mean, like literally any morning in winter. I
• 13:45
  Speaker 2: assume you can go for breakfast, but anyway, I could
• 13:47
  Speaker 2: be wrong.
• 13:48
  Speaker 4: Sorry pancake parlator for the trash talking, but I mean
• 13:51
  Speaker 4: you are really expensive for pancakes.
• 13:54
  Speaker 3: There.
• 13:54
  Speaker 4: That's what we're still going. We're still going.
• 13:56
  Speaker 2: We've or without the ten degree what the calls? I
• 14:01
  Speaker 2: can't think of anyway. That's me for this week. I
• 14:04
  Speaker 2: hope I love that.
• 14:05
  Speaker 4: You have once again stolen a broke tip from someone
• 14:08
  Speaker 4: called Jess.
• 14:09
  Speaker 5: Oh I didn't even It's really an ongoing thing, there
• 14:12
  Speaker 5: really is.
• 14:13
  Speaker 4: So if any Jesses would like to dm Beck with
• 14:15
  Speaker 4: a broke tip. Apparently she's only accepting them from people
• 14:19
  Speaker 4: called Jess. Yeah, so that's fine, and I'll claim it
• 14:22
  Speaker 4: as my own or only if your name is Jess. Yeah,
• 14:24
  Speaker 4: everyone else fair, that's fair credit. I love that. All right,
• 14:27
  Speaker 4: let's go to a really quick break because on the
• 14:28
  Speaker 4: flip side, I'm really interested in the perfect topic of
• 14:32
  Speaker 4: accepting money that does come with conditions, And we're also
• 14:36
  Speaker 4: going to be chatting about whether removing purchasing conditions when
• 14:38
  Speaker 4: you're bidding on a property at auction gives you a
• 14:41
  Speaker 4: better chance at home ownership. So don't go anywhere, guys.
• 14:49
  Speaker 5: Welcome back, everybody. Let's take a listen to this week's
• 14:51
  Speaker 5: money dilemma.
• 14:55
  Speaker 4: Hi, there, have you got a money dilemma you just
• 14:57
  Speaker 4: can't solve that. She's on the Money Team is here
• 15:00
  Speaker 4: to help. Every week we tackle your dilemmas, both big
• 15:03
  Speaker 4: and small, to answer your most burning money, career and
• 15:06
  Speaker 4: life questions. To get involved, simply head to our website
• 15:09
  Speaker 4: and leave us a short voice recording and you might
• 15:11
  Speaker 4: just find yourself on the show. Now, let's take a
• 15:14
  Speaker 4: listen to this week's money dilemma.
• 15:18
  Speaker 6: Hey, Victoria, me and my sister are trying to buy
• 15:20
  Speaker 6: an apartment together. It's our first time buying a place,
• 15:23
  Speaker 6: so we're still learning and everything. We're noticing that every
• 15:26
  Speaker 6: time we place an offer on an apartment there's someone
• 15:29
  Speaker 6: who is paying in cash and has like no conditions
• 15:33
  Speaker 6: on their offer, but unfortunately we need conditions, like in
• 15:37
  Speaker 6: particular subject to finance.
• 15:40
  Speaker 4: It kind of feels like there will always.
• 15:42
  Speaker 7: Be wealthier people who are able to pay them for
• 15:44
  Speaker 7: with an unconditional offer, So we're not really sure how
• 15:48
  Speaker 7: to compete. How risky is it to remove all conditions,
• 15:51
  Speaker 7: including subject to finance from our offers moving forward.
• 15:55
  Speaker 4: That's really risky and I wouldn't be considering it if
• 15:58
  Speaker 4: you need it, which you said you did. That gives
• 16:00
  Speaker 4: me mad amounts of anxiety, especially because you said, you
• 16:04
  Speaker 4: know we need it to be subject to finance. Yes,
• 16:06
  Speaker 4: you do, because if it's not subject to finance, you
• 16:09
  Speaker 4: could literally lose your deposit and then you won't be
• 16:11
  Speaker 4: able to buy any house in the future, which is wild.
• 16:16
  Speaker 4: I get it, though, like Jess is probably better at
• 16:19
  Speaker 4: this topic than I am at the moment, because Jess,
• 16:21
  Speaker 4: you've been going to a lot of inspections.
• 16:23
  Speaker 5: A lot of inspection and not doing a lot of winning. No, No,
• 16:27
  Speaker 5: we haven't. Actually we haven't tended in an offer yet,
• 16:30
  Speaker 5: but I completely agree. I think the other big one
• 16:32
  Speaker 5: for me in subject to finance is subject to building
• 16:35
  Speaker 5: a pest, which is maybe one that you can get
• 16:37
  Speaker 5: around because some agents are a bit more flexible and
• 16:40
  Speaker 5: they want to have as few as our listener is
• 16:42
  Speaker 5: saying as few conditions in that.
• 16:44
  Speaker 4: Offer as possible.
• 16:45
  Speaker 5: So if you are eager to put an offer in,
• 16:48
  Speaker 5: the two that I would not skip is building a
• 16:50
  Speaker 5: pest and finance if.
• 16:51
  Speaker 4: You need it, which is a genie sae.
• 16:52
  Speaker 5: You might be able to say to the agent, Hey,
• 16:55
  Speaker 5: like we would want to get a building and pest
• 16:57
  Speaker 5: done before we purchased, are you happy for us to
• 17:00
  Speaker 5: do that prior to putting our offer in. So it's
• 17:02
  Speaker 5: one less contingency that's in place, and a lot of agencies,
• 17:05
  Speaker 5: particularly if it's not occupied or things like that, a
• 17:08
  Speaker 5: lot of them are pretty happy to let you do
• 17:10
  Speaker 5: that because it's one less thing that's on that offer,
• 17:13
  Speaker 5: one easier thing for them to get that offer through
• 17:15
  Speaker 5: because ultimately they want to sell the house. So you
• 17:17
  Speaker 5: might be able to do that. In terms of your
• 17:20
  Speaker 5: subject to finance, you could look at doing a pre approval.
• 17:22
  Speaker 5: That's something that your mortgage broker would be able to
• 17:24
  Speaker 5: help you.
• 17:24
  Speaker 4: With I heard there's good mortgage brokers at Sealer Money.
• 17:27
  Speaker 5: I have heard that they seem to be very lovely
• 17:29
  Speaker 5: from what I've heard, what you've heard, there's many many
• 17:32
  Speaker 5: phone calls that I've made that I've made to that team.
• 17:35
  Speaker 4: Wow, what a conundrum.
• 17:37
  Speaker 5: Yeah, so your mortgage broker would be able to help
• 17:39
  Speaker 5: you get a pre approval. You know, obviously they only
• 17:41
  Speaker 5: last for so long, so you'd only want to get
• 17:43
  Speaker 5: it done if you're actively making offers.
• 17:46
  Speaker 4: Yeah, one hundred percent. And that's where your mortgage broker
• 17:48
  Speaker 4: can help you. So they might not submit for pre
• 17:50
  Speaker 4: approval until you're like, yeah, I actually do have a
• 17:52
  Speaker 4: few properties on the go, but it's important to start
• 17:55
  Speaker 4: that conversation early. But yeah, the subject of finance one
• 17:58
  Speaker 4: gives me anxiety.
• 17:59
  Speaker 7: Jah.
• 18:00
  Speaker 5: Yeah, And having the pre approval in place might just
• 18:02
  Speaker 5: be enough. You know, you can say, hey, like, we
• 18:05
  Speaker 5: have that subject to finance, but we have a pre approval,
• 18:07
  Speaker 5: and that is often enough to make the vendor really
• 18:10
  Speaker 5: comfortable knowing that it seems like it's going to go true.
• 18:13
  Speaker 5: Rather than taking a step in the dark.
• 18:14
  Speaker 4: I would be cautious here providing your pre approval to
• 18:17
  Speaker 4: the real estate agent, because hypothetically, I know that Jess,
• 18:22
  Speaker 4: you are often pre approved for more money than what
• 18:25
  Speaker 4: the house is, and you don't actually want the real
• 18:27
  Speaker 4: estate agent to go, oh, well, this property is five
• 18:29
  Speaker 4: hundred thousand and she's pre approved for five fifty. I'm
• 18:32
  Speaker 4: going to tell them that there's another person and do
• 18:35
  Speaker 4: you want to go up to five fifty, Jess. So
• 18:36
  Speaker 4: I'd be really apprehensive of providing it, but telling them
• 18:39
  Speaker 4: that you're pre approved for the amount that you're offering
• 18:42
  Speaker 4: is really powerful. The other thing I would say is
• 18:45
  Speaker 4: if there seems to be some stress around that building
• 18:47
  Speaker 4: and pest inspection, asking the real estate agent if it's
• 18:50
  Speaker 4: been done already is really powerful as well, because if
• 18:53
  Speaker 4: you're not the only person interested in it, there could
• 18:56
  Speaker 4: be another party who has done it that might have
• 18:59
  Speaker 4: provided it to the real estate agent. And I promise
• 19:01
  Speaker 4: the real estate agent wants to give it to you
• 19:03
  Speaker 4: because they want your offer on the table. So it's
• 19:06
  Speaker 4: very likely that they'll say, oh, yeah, actually one's been done,
• 19:09
  Speaker 4: and at that point Jess might go, oh, well, can
• 19:11
  Speaker 4: I please have a copy of it? Because that means
• 19:13
  Speaker 4: I will not be subject to building and pest, and
• 19:15
  Speaker 4: I don't have to make you wait for my offer
• 19:18
  Speaker 4: to you know, go unconditional. And at that point you'd
• 19:20
  Speaker 4: hand it to your solicitor and say is this comprehensive enough?
• 19:23
  Speaker 4: Like what does this look like? And they might go yep, great,
• 19:26
  Speaker 4: don't worry about it, there's no issues, or they might go, oh,
• 19:29
  Speaker 4: that's I don't like that building and pest. Please get
• 19:31
  Speaker 4: your own. So definitely have that on your side. I
• 19:35
  Speaker 4: know it can be really disheartening though. If there are
• 19:37
  Speaker 4: a lot of people buying cash in this market, it
• 19:41
  Speaker 4: can make you want to do things that compromise your values.
• 19:44
  Speaker 4: And I think that that sucks. But I don't think
• 19:48
  Speaker 4: that you should forego to it. I don't think we risk.
• 19:50
  Speaker 4: It's not worth the risk. It's not worth going there.
• 19:53
  Speaker 4: Having a good relationship with a broker, though, means on
• 19:55
  Speaker 4: that day you can call them and be like, hey, Beck,
• 19:58
  Speaker 4: I've got this property. It's five hundred thousand dollars. Say no,
• 20:01
  Speaker 4: I'm pre approved, but am I okay? And your broker's
• 20:04
  Speaker 4: going to go yeah, Beck, tell them it's fine, absolutely
• 20:06
  Speaker 4: no worries because pre approval could be in lots of
• 20:09
  Speaker 4: different stages. There might be you know, pre approval that
• 20:12
  Speaker 4: happened two months ago, and they go, ah, let me
• 20:14
  Speaker 4: just check on that and make sure that the bank
• 20:16
  Speaker 4: hasn't moved the goalposts and then you'll be good to go.
• 20:19
  Speaker 4: Or maybe pre approval happened two days ago and you're like,
• 20:21
  Speaker 4: all right, well, ready set go. So I think it's
• 20:23
  Speaker 4: important to have that relationship with someone you can call
• 20:26
  Speaker 4: and be like, hey, where are we at? So this person,
• 20:29
  Speaker 4: I would say, get a good relationship with a broker,
• 20:31
  Speaker 4: ask that broker for a recommendation for a solicitor. The
• 20:35
  Speaker 4: reason I say ask for a recommendation is it is
• 20:38
  Speaker 4: great if you're broker and you're solicitor or on the
• 20:40
  Speaker 4: same page. They can go back and forth together and
• 20:43
  Speaker 4: be like, hey, Beck, what do you reckon about? This
• 20:44
  Speaker 4: property just is going to get okay? No, yes, actually
• 20:47
  Speaker 4: I noted this. Can you have a look at this
• 20:48
  Speaker 4: in this contract? And all of those things. It makes
• 20:51
  Speaker 4: your life so much easier if they are in contact.
• 20:54
  Speaker 4: And the other thing I would say is holdstrong. It sucks.
• 20:58
  Speaker 4: It's bloody tough out there. Jess can probably agree that
• 21:01
  Speaker 4: it is not the best thing to do, but there's
• 21:03
  Speaker 4: no way I would be compromising on those conditions just
• 21:07
  Speaker 4: to get your foot in the door, unless it's a
• 21:10
  Speaker 4: very calculated risk, like you know you're pre approved and saying,
• 21:14
  Speaker 4: oh yeah, don't worry, I can not be subject to
• 21:17
  Speaker 4: finance because it's a guaranteed thing. It's very different than
• 21:20
  Speaker 4: just hoping that you'll get alone for the amount that
• 21:23
  Speaker 4: you've been sure.
• 21:24
  Speaker 2: The only thing I have, and obviously, like I'm not
• 21:26
  Speaker 2: an expert in this topic, but my partner recently, actually
• 21:30
  Speaker 2: literally yesterday, was finally accepted. She was having the same issue.
• 21:37
  Speaker 2: Another friend of mine was having the exact same issue,
• 21:39
  Speaker 2: and I guess.
• 21:39
  Speaker 4: Like, the only sorry, are you dating a property owner?
• 21:42
  Speaker 2: I'm dating property so that's you know, it is a
• 21:47
  Speaker 2: bit of a flex but yeah, I'm you know, so
• 21:49
  Speaker 2: perspect for she was having the same issue. She was
• 21:51
  Speaker 2: really disheartened. The only other thing I would probably add
• 21:55
  Speaker 2: is that if you and this might be common knowledge,
• 21:58
  Speaker 2: if you like have the flexible ability to tell the
• 22:02
  Speaker 2: seller that you can do a twenty day, thirty day,
• 22:06
  Speaker 2: forty day, sixty day, whatever day.
• 22:09
  Speaker 4: Like a flexible settlement, that's smart pack.
• 22:11
  Speaker 2: That That's what she did, and they were like that
• 22:14
  Speaker 2: kind of too. Grow the line I think is they.
• 22:16
  Speaker 4: Going to get their cash faster, They're going to dispose
• 22:18
  Speaker 4: of the property faster, exactly, really smart exactly. So if
• 22:21
  Speaker 4: you're flexible, just like trying to make your offer as
• 22:23
  Speaker 4: attractive as possible, I guess that helps.
• 22:26
  Speaker 2: So that's all fart.
• 22:27
  Speaker 4: No, that's a very good addition.
• 22:29
  Speaker 2: I like it.
• 22:30
  Speaker 5: The one other tip I would have is look for
• 22:32
  Speaker 5: off market properties because there's got to be a little
• 22:34
  Speaker 5: to no competition on those, and so you might be
• 22:36
  Speaker 5: able to find someone who just wants to sell their property,
• 22:38
  Speaker 5: and if you can meet their desired range, then without
• 22:42
  Speaker 5: those other people competing, you might be able to get
• 22:44
  Speaker 5: your offer across the line with my house.
• 22:47
  Speaker 2: Yeah, that when I find my house.
• 22:48
  Speaker 4: So you can put a good word in with real
• 22:51
  Speaker 4: estate agents. So you could go to a real estate
• 22:54
  Speaker 4: agent and feel like, hey, I know you work in
• 22:55
  Speaker 4: this area and i'd like to purchase in this area.
• 22:57
  Speaker 4: Here's my criteria. I actually have a pre approval. Pre
• 23:01
  Speaker 4: approval when you're asking a real estate agent directly is
• 23:03
  Speaker 4: really important. Otherwise they might feel like they're wasting their
• 23:06
  Speaker 4: time and they won't call you. So making sure that
• 23:08
  Speaker 4: you go I am actually ready to buy it now
• 23:10
  Speaker 4: if you found my dream property. The other thing is
• 23:13
  Speaker 4: buyers agents. So I used a buyer's agent, and a
• 23:17
  Speaker 4: buyer's agent here in Melbourne can cost anywhere between five
• 23:21
  Speaker 4: and fifteen thousand dollars. And I know you go, oh,
• 23:24
  Speaker 4: that's a lot of money, and it totally is, especially
• 23:27
  Speaker 4: if you're purchasing your first property. But I can I
• 23:29
  Speaker 4: don't want to guarantee it, but fifteen thousand dollars we're
• 23:33
  Speaker 4: at the top end. When you're paying a buyer's agent
• 23:36
  Speaker 4: to find you an off market property that's going to
• 23:38
  Speaker 4: move and you're not going to get in a bidding
• 23:40
  Speaker 4: war with somebody, you could probably save more than fifteen
• 23:44
  Speaker 4: thousand dollars on your property. It's a really good point.
• 23:46
  Speaker 4: I saved a lot on my property when I purchased
• 23:49
  Speaker 4: through a buyer's agent because I was offered an off
• 23:52
  Speaker 4: market property. And I know I've spoken about this on
• 23:55
  Speaker 4: the podcast before. However, I was offered an off market
• 23:59
  Speaker 4: property because I had my pre approval and we were
• 24:01
  Speaker 4: ready to move. It had to move quickly for us
• 24:05
  Speaker 4: to seize the opportunity, and it was done and dusted
• 24:08
  Speaker 4: within twenty four hours of us seeing the house. Oh, amazing,
• 24:12
  Speaker 4: but I have saved way more than fifteen thousand dollars
• 24:16
  Speaker 4: on the purchase price because the person selling it they
• 24:18
  Speaker 4: didn't want to stage the property. They didn't want to,
• 24:21
  Speaker 4: you know, fix up anything that needed fixing up to
• 24:23
  Speaker 4: get it on real estate dot Com. They didn't want
• 24:26
  Speaker 4: to go back and forth with people going through the house.
• 24:29
  Speaker 4: When I viewed the house, there was a whole heap
• 24:31
  Speaker 4: of just like personal stuff and boxes in the corners
• 24:34
  Speaker 4: because they'd actually already moved overseas and they just wanted
• 24:36
  Speaker 4: the property gone. So they were like, we don't want
• 24:39
  Speaker 4: to deal with this, get rid of the property. That
• 24:41
  Speaker 4: meant that I saved a significant amount, but I had
• 24:44
  Speaker 4: to move fast. So that's where it goes back to
• 24:47
  Speaker 4: having that good relationship with a broker, thinking about what
• 24:50
  Speaker 4: it means to engage a buyers agent. You could have
• 24:52
  Speaker 4: a chat with someone and see what that looks like
• 24:54
  Speaker 4: having our list. Now, go and get the pre approval
• 24:57
  Speaker 4: so that they are ready to go, so that if
• 25:00
  Speaker 4: a bias agent goes, hey, here's an opportunity, they're able
• 25:02
  Speaker 4: to seize it because they're ready. Is really really powerful,
• 25:06
  Speaker 4: and I know that it can be overwhelming. Property is expensive.
• 25:09
  Speaker 4: But for me having that and then also having somebody
• 25:12
  Speaker 4: who was an expert in the area saying this is
• 25:15
  Speaker 4: pretty goodbyeveh, I was like, Okay, I feel really confident
• 25:18
  Speaker 4: ultimately direct movie contingencies. They're there to protect you. Yeah,
• 25:21
  Speaker 4: don't do that. Yeah, terrible idea, terrible to compromise your values.
• 25:26
  Speaker 4: And that is not what this content is about.
• 25:28
  Speaker 2: No, it's not about it.
• 25:30
  Speaker 4: Do you want to get into something really juicy? Oh
• 25:32
  Speaker 4: my gosh, all right, so this week we got a
• 25:34
  Speaker 4: DM and are you ready? It sounds like this high team.
• 25:39
  Speaker 4: I have a listener question. After telling my parents how
• 25:42
  Speaker 4: much our home loan is costing us and the amount
• 25:44
  Speaker 4: that is portioned into interest and how much is being
• 25:47
  Speaker 4: paid off the loan, my mum and dad came back
• 25:49
  Speaker 4: to me with an offer. Before I get to the offer,
• 25:52
  Speaker 4: I would like to mention that they can be very
• 25:54
  Speaker 4: emotionally manipulative and they love control. They've offered us fifty
• 26:00
  Speaker 4: thousand dollars to go towards our home loan. Conditions are
• 26:04
  Speaker 4: we are not allowed to tell our siblings. I know
• 26:07
  Speaker 4: this money would really help us, but I'm not sure
• 26:10
  Speaker 4: if there will be more conditions to come down the track.
• 26:13
  Speaker 4: Please help me, I need advice. PS. Love your podcast.
• 26:17
  Speaker 4: Oh that's very nice. That's so cute.
• 26:19
  Speaker 2: I love you too.
• 26:20
  Speaker 4: I don't love emotionally manipulative parents.
• 26:23
  Speaker 5: No, no, no.
• 26:24
  Speaker 4: That gives me a lot of anxiety. And I mean,
• 26:30
  Speaker 4: there are a lot of things that you could or
• 26:31
  Speaker 4: couldn't do back what would you do?
• 26:33
  Speaker 2: I think it's really I don't know, Like I feel
• 26:37
  Speaker 2: like it's not worth the struggle, the stress, I think,
• 26:41
  Speaker 2: and also like you're kind of like risking the relationship
• 26:45
  Speaker 2: in general, like but you know, your family bond whatever.
• 26:47
  Speaker 2: But I just think like the stress and the potential
• 26:51
  Speaker 2: I don't know, future complications. I just like I probably
• 26:55
  Speaker 2: would just kind of like go on my own journey,
• 26:57
  Speaker 2: be on my own journey and only rely on my
• 27:00
  Speaker 2: I don't know, you do know what I'm saying.
• 27:01
  Speaker 4: Yeah, fifty thousand dollars is a lot of money, and
• 27:04
  Speaker 4: it would mean that you have a lower interest payment
• 27:08
  Speaker 4: on that mortgage, which would take off some financial stress.
• 27:12
  Speaker 4: And I get them being like, oh, don't tell your siblings,
• 27:14
  Speaker 4: And I mean I don't love that. Like I'm the
• 27:16
  Speaker 4: type of person where if there is a secret and
• 27:18
  Speaker 4: you're keeping a secret, it means that you know you're
• 27:21
  Speaker 4: doing the wrong thing, like and I just think that
• 27:23
  Speaker 4: that's not okay. Like in any situation if someone has
• 27:26
  Speaker 4: told you to not tell anybody about something, I feel
• 27:29
  Speaker 4: like that means that they know that they're in the wrong,
• 27:32
  Speaker 4: and I just go okay. So clearly your siblings wouldn't
• 27:36
  Speaker 4: like that. But that aside, if you're happy with that condition,
• 27:39
  Speaker 4: and there's only one condition and you're happy with it,
• 27:42
  Speaker 4: that's none of my business. It's not for me to judge.
• 27:44
  Speaker 4: Your concern is they might add conditions down the track.
• 27:47
  Speaker 4: And that's where I go, oh, I don't like other
• 27:51
  Speaker 4: people having me that way.
• 27:53
  Speaker 2: I think, sorry to jumping again, but I just exactly
• 27:57
  Speaker 2: what you're saying. And it's also the feeling you're kind
• 28:00
  Speaker 2: of hiding something from someone and if you can just
• 28:04
  Speaker 2: never mention it, like even in casual discussion, like it's
• 28:07
  Speaker 2: constantly they're like, that's so exciting, do you thing?
• 28:10
  Speaker 6: I don't know.
• 28:10
  Speaker 2: I just don't think I would.
• 28:11
  Speaker 4: Be thinking about it all the time. Yeah, I don't
• 28:13
  Speaker 4: think I could go and hang out with my sister
• 28:16
  Speaker 4: and then it would, yeah, just be in my head
• 28:18
  Speaker 4: because that's significant, Like not that you need to tell them, Yeah, it's.
• 28:22
  Speaker 2: Not part of the conversation, but like, like I don't know,
• 28:24
  Speaker 2: I just be shaking and be like.
• 28:28
  Speaker 4: What I'm gonna do?
• 28:29
  Speaker 2: Yeah, it's so hard I couldn't.
• 28:31
  Speaker 5: It comes out at a random time, They're like, can
• 28:33
  Speaker 5: you pass the tomatoes?
• 28:34
  Speaker 6: And you're like.
• 28:38
  Speaker 2: Just shoot out at a random moment?
• 28:40
  Speaker 4: Why we all like that?
• 28:43
  Speaker 1: Not cool?
• 28:44
  Speaker 4: Jess what would you do?
• 28:45
  Speaker 5: I think I personally agree with that it's the giving
• 28:49
  Speaker 5: of power. And I think particularly because our listener has
• 28:51
  Speaker 5: said emotional manipulation historically has been a problem. Yeah, I
• 28:56
  Speaker 5: personally think it is not worth that. However, I acknowledge
• 28:59
  Speaker 5: that that's a very privileged thing to say, and that
• 29:01
  Speaker 5: you know, if that fifty thousand dollars potentially could change
• 29:04
  Speaker 5: your life and you really need it, and you know,
• 29:06
  Speaker 5: you just feel like it's going to make a huge
• 29:07
  Speaker 5: difference to you. The way that I would maybe go
• 29:10
  Speaker 5: about it is setting up an offset and depositing the
• 29:14
  Speaker 5: fifty thousand dollars into an offset.
• 29:16
  Speaker 4: So that's so smart. Gets to love this, thank you,
• 29:19
  Speaker 4: I'm not even needed here.
• 29:20
  Speaker 5: I think like if it gets to a point where
• 29:22
  Speaker 5: they're adding on different rules or it's becoming very uncomfortable
• 29:27
  Speaker 5: or the relationship with your siblings is getting strained.
• 29:29
  Speaker 4: You can just give it straight back.
• 29:30
  Speaker 5: Yeah, you can just pull it out, no issues, give
• 29:33
  Speaker 5: it back to them and say thank you so much
• 29:34
  Speaker 5: for the help that you've given me, but I think
• 29:36
  Speaker 5: it's not worth it. Correct, And so you can.
• 29:38
  Speaker 4: Do that in the same day.
• 29:40
  Speaker 5: Yeah, oh can you there? You go, yeah, I feel
• 29:42
  Speaker 5: like that's a good middle ground. Maybe I feel like
• 29:44
  Speaker 5: that's the best ground. That's actually quite smart. In fact,
• 29:48
  Speaker 5: anytime you are taking money from someone else for something
• 29:51
  Speaker 5: like that, I would recommend it being in an offset,
• 29:54
  Speaker 5: because if you pay it off your loan, there's no
• 29:56
  Speaker 5: guarantee that you could access it later down the track.
• 29:59
  Speaker 4: Even in a draw. The bank could turn around and say, oh, well,
• 30:02
  Speaker 4: we're not letting you redraw that money because you know
• 30:04
  Speaker 4: your loan's over a certain percentage or whatnot, and that
• 30:06
  Speaker 4: is stressful. Imagine if your parents then said, oh, Jess,
• 30:09
  Speaker 4: we actually need that cash back, and you go, I
• 30:11
  Speaker 4: can't give it back right now, like you said, I
• 30:13
  Speaker 4: could have it for three years, and they go, oh,
• 30:15
  Speaker 4: yeah things have changed. You go, well I can't access it,
• 30:17
  Speaker 4: like yeah, I will have to sell my house. So
• 30:20
  Speaker 4: I think that the offset is the smartest thing, And
• 30:22
  Speaker 4: then I would also ask for a contract like, let's
• 30:26
  Speaker 4: establish a proper loan agreement with any term so you
• 30:29
  Speaker 4: can sit down and say, hey, like, I'm happy to
• 30:31
  Speaker 4: put all these terms in, and I'm actually even happy
• 30:34
  Speaker 4: to sign that I won't tell my siblings, Like, let's
• 30:36
  Speaker 4: put that that I'm happy to even sign and say
• 30:39
  Speaker 4: that I won't tell my siblings. What else, like, go away, guys,
• 30:43
  Speaker 4: have a think. Obviously, I don't think that there should
• 30:45
  Speaker 4: be any other stipulations, but you let me know if
• 30:47
  Speaker 4: there's anything else that needs to be in that contract,
• 30:50
  Speaker 4: because like ha haha, neither of us want to add
• 30:53
  Speaker 4: stuff later down the track, so that it can all
• 30:55
  Speaker 4: be kind of agreed to and in writing if you're
• 30:58
  Speaker 4: really worried about it. And then I think offset idea
• 31:00
  Speaker 4: is a really good one.
• 31:02
  Speaker 5: Chess, Thanks, What did everybody else have to say?
• 31:04
  Speaker 4: Oh my gosh. So we asked the community first question.
• 31:06
  Speaker 4: We said, would you accept the money if it had
• 31:08
  Speaker 4: conditions you had to follow? And twenty eight percent of
• 31:11
  Speaker 4: you said yeah, it would be a really big help.
• 31:13
  Speaker 4: But seventy two percent said nut doesn't sit right with me,
• 31:16
  Speaker 4: which I think is fair, Like I feel like each
• 31:18
  Speaker 4: to their own though. Our next question was would you
• 31:22
  Speaker 4: be okay with the condition of having to lie to
• 31:24
  Speaker 4: your siblings about money? Twenty seven percent of you said yep,
• 31:27
  Speaker 4: I could do it. Three percent said nut couldn't do it.
• 31:32
  Speaker 4: I was born to yap. Yeah, I'm really sorry. It's
• 31:36
  Speaker 4: going to come out like I did. Just is like
• 31:39
  Speaker 4: I can keep your secrets back, Like you could tell
• 31:41
  Speaker 4: me anything and I'd be like, cool, I'm not telling
• 31:43
  Speaker 4: anybody second I have anything about me. I'm like, jess,
• 31:45
  Speaker 4: guess what what what? Like, here's my secret? Tell me more,
• 31:48
  Speaker 4: here's my secret. Like I just can't keep it to myself.
• 31:51
  Speaker 4: I wake up some mornings and I'm like, I'm going
• 31:52
  Speaker 4: to be elusive. I'm not going to tell everybody my
• 31:55
  Speaker 4: life story. And then twenty minutes into my life story,
• 31:57
  Speaker 4: I'm like, maybe tomorrow. We then asked you, guys, what
• 32:02
  Speaker 4: do you think about this gift that the parents have offered.
• 32:05
  Speaker 4: Eighty one percent said a genuine gift wouldn't come with conditions,
• 32:10
  Speaker 4: and nineteen percent of you said they want to help.
• 32:12
  Speaker 4: I wouldn't overthink it. I don't think that's for us
• 32:15
  Speaker 4: to decide, though, because only you know your parents and
• 32:20
  Speaker 4: the situation.
• 32:21
  Speaker 5: Like, I can see how I guess from the parents'
• 32:23
  Speaker 5: perspective on purely the siblings thing. You know, if maybe
• 32:27
  Speaker 5: they weren't in the position to help kids, you know,
• 32:29
  Speaker 5: who were younger and now it's a bit later in
• 32:31
  Speaker 5: their life. Maybe they've accessed their retirement funds and they
• 32:33
  Speaker 5: have the money, but they don't want to create, you know,
• 32:36
  Speaker 5: a feeling of inequity or whatever. I can understand that, Like,
• 32:40
  Speaker 5: that's not necessarily the flag for me. It's the history
• 32:43
  Speaker 5: of you.
• 32:44
  Speaker 2: Say, it's hard to know.
• 32:45
  Speaker 4: I don't know why you're not saying that, because like
• 32:48
  Speaker 4: you could have one sibling who's really financially responsible and
• 32:52
  Speaker 4: that's you, and your parents want to help you out
• 32:53
  Speaker 4: even more financially with your mortgage because they're really proud
• 32:56
  Speaker 4: of that, and another who just is not financially responsible,
• 32:59
  Speaker 4: and they're like, I really don't want to give that
• 33:01
  Speaker 4: kid access to the same loan which I would feel
• 33:04
  Speaker 4: obligated to because I know they're not going to make
• 33:07
  Speaker 4: good decisions with that.
• 33:08
  Speaker 2: Ye.
• 33:09
  Speaker 4: So I can kind of understand that, but we don't
• 33:11
  Speaker 4: know the situation. Yeah, context is missing here. We then
• 33:14
  Speaker 4: asked you guys. Obviously it was your two cents what
• 33:17
  Speaker 4: do you reckon? And you guys had some colorful opinions.
• 33:20
  Speaker 4: So I'm going to go through a couple now. Someone asked,
• 33:23
  Speaker 4: is there any case law about gifts like this, meaning
• 33:25
  Speaker 4: parents can make claims on the house?
• 33:28
  Speaker 7: Oh?
• 33:29
  Speaker 2: Good point.
• 33:30
  Speaker 4: Interesting, but also no, because if it's a gift and
• 33:35
  Speaker 4: they're not on the mortgage, that's where it ends. So
• 33:38
  Speaker 4: I mean they could try, but it would have to
• 33:40
  Speaker 4: involve a lot of legal fees, it would have to
• 33:42
  Speaker 4: involve a lot. I'd be interested to see if there
• 33:44
  Speaker 4: was anything, But I think in Australia it's pretty cut
• 33:47
  Speaker 4: and dry. If you're not on the mortgage, you're not
• 33:48
  Speaker 4: entitled to it, if you're not a dependent, like if
• 33:51
  Speaker 4: you're not a significant other, and you're like a de
• 33:54
  Speaker 4: facto Someone said, how is this condition different to any
• 33:58
  Speaker 4: other contractual obligation? Sign it or don't. And I think
• 34:02
  Speaker 4: that that's a good point. I mean, we're probably putting
• 34:04
  Speaker 4: our morals into this question where they not need it.
• 34:07
  Speaker 4: But it's so it's a complex one.
• 34:10
  Speaker 2: It's complex because there's no emotion tied to a bank,
• 34:14
  Speaker 2: there's no emotion tied to any like a payday loan
• 34:18
  Speaker 2: for example. Like there's no history, and there's no attachments
• 34:22
  Speaker 2: and there's no but if someone that you have a
• 34:24
  Speaker 2: whole history, with an emotional history with and all of
• 34:28
  Speaker 2: this kind of stuff, it's so different. Yeah, you just
• 34:31
  Speaker 2: don't know what that'll turn into.
• 34:32
  Speaker 4: Yeah. So someone else said, my mum actually gave me
• 34:35
  Speaker 4: sixty thousand dollars to place in my overdrawer account to
• 34:38
  Speaker 4: bring my interest down. Then part two, I will give
• 34:41
  Speaker 4: her that money back when she needs it. But it's
• 34:43
  Speaker 4: been a huge help with decreasing my payable interest, which
• 34:47
  Speaker 4: I think is really smart. The only thing I have
• 34:50
  Speaker 4: there is that's a really good point. But maybe think
• 34:52
  Speaker 4: about putting it in an offset instead of an overdraw
• 34:55
  Speaker 4: to make sure that you can access that. Someone else said,
• 35:00
  Speaker 4: absolutely not protect your emotional peace. It's not worth fifty
• 35:04
  Speaker 4: grand I promise. Someone else said that's a red flag.
• 35:07
  Speaker 4: Having siblings can be so good if you can don't
• 35:10
  Speaker 4: risk your relationship with them. Yeah, which is true, because
• 35:13
  Speaker 4: you could be risking your relationship. Someone else said, take
• 35:16
  Speaker 4: the money. You don't know anything to your siblings. Someone
• 35:23
  Speaker 4: else said, people say no conditions and then they add
• 35:25
  Speaker 4: them down the track. It's not worth the risk. And
• 35:28
  Speaker 4: then the last one I'm going to read out is
• 35:30
  Speaker 4: trust your gut feeling. If it doesn't feel right, it
• 35:33
  Speaker 4: probably isn't. And I feel like that's my favorite one
• 35:37
  Speaker 4: because at the end of the day.
• 35:39
  Speaker 2: Got trust your gut.
• 35:39
  Speaker 4: I always say this to everybody, like, trust your gut.
• 35:43
  Speaker 4: If you don't think you should be doing it, don't.
• 35:45
  Speaker 4: But it doesn't matter what it is. I feel like
• 35:46
  Speaker 4: too often we say things like I should have trusted
• 35:49
  Speaker 4: my gut. Yeah, And as somebody who often doesn't trust
• 35:52
  Speaker 4: her gut, historically, trust your gut.
• 35:55
  Speaker 5: And on that note, let's go.
• 35:58
  Speaker 4: Let's go. I hope you have a beautiful week and
• 36:00
  Speaker 4: we will see you. Guys bright nearly from Monday. Money
• 36:03
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