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'No Wedding Gifts Expected’... Then Why Do I Feel Guilty? · She's On The Money

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Speaker 1: My name's Sasha Bamblet. I'm a proud First Nations woman
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Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya Niana,
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Speaker 1: Kaka yah y and beIN Ahaka Nian our gay In
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Speaker 1: Mbini yakarum Jar Dominyamiga Umagahawaka Woman Damon Imlan Bumba ban
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Speaker 1: Gadabomba in and now in wakah ghan On yak rum
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Speaker 1: Jar water Nada. Now Hello, beautiful friends, we gather on
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Speaker 1: the lands of the Aboriginal people. We thank acknowledge and
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Speaker 1: respect the Abiginal people's land that we're gathering on today.
0:30
Speaker 1: Take pleasure in all the land and respect all that
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Speaker 1: you see. She's on the Money podcast acknowledges culture, country,
0:38
Speaker 1: community and connections, bringing you the tools, knowledge and resources
0:43
Speaker 1: for you to thrive.
0:45
Speaker 2: She's on the Money. She's on the Money.
1:08
Speaker 3: Hello and welcome to She's on the Money, the podcast
1:10
Speaker 3: that makes personal finance fun, especially on Fridays, and every
1:14
Speaker 3: single Friday, we get the team together to celebrate you
1:17
Speaker 3: our incredible She's on the Money community. Of course, we
1:21
Speaker 3: have miss jessic Ricci here. She's going to be sharing
1:23
Speaker 3: all of your money wins. While Beck sayed, she's here.
1:26
Speaker 3: She's bringing you all of her best broke tips. We're
1:28
Speaker 3: also going to be answering a question about whether you
1:31
Speaker 3: should be selling your shares in a downturn, and I'm
1:34
Speaker 3: hoping you guys have been listening long enough to predict
1:37
Speaker 3: exactly what I'm going to say. And my friends, remember that,
1:40
Speaker 3: you too can have your money dilemma answered and explored
1:43
Speaker 3: on the podcast by leaving us a little voice note
1:45
Speaker 3: on our website or sending us a direct message on Instagram.
1:48
Speaker 3: Simply tell us what's going on, and you might just
1:51
Speaker 3: hear yourself on Friday Drinks. But more on that later
1:54
Speaker 3: because massive drum roll bet you didn't see this coming
2:00
Speaker 3: five star review. And I feel like there is something really,
2:03
Speaker 3: really really special about hearing from you our community when
2:07
Speaker 3: you slide into our dms, not only to stroke our egos,
2:10
Speaker 3: which we obviously really enjoy, but like sorry, I love
2:14
Speaker 3: hearing about your financial goals. I love hearing about what
2:17
Speaker 3: you're achieving. I love hearing about the journey, not just
2:21
Speaker 3: about like, oh, v I bought my first home, fantastic,
2:23
Speaker 3: please tell me, but also like you got out of
2:26
Speaker 3: debt or you finally started looking at your debt, like
2:28
Speaker 3: it is such a big achievement to even I don't know,
2:32
Speaker 3: log into the account and finally uncover what the damage
2:36
Speaker 3: actually is because so many of us have our heads
2:38
Speaker 3: in the sand. Like I get it. It doesn't just
2:41
Speaker 3: mean that you're I don't know, building heaps of wealth,
2:44
Speaker 3: but it means that the work that we do is
2:46
Speaker 3: actually having an impact and that's actually what drives us. Surprisingly,
2:52
Speaker 3: So if the podcast has been helping you get closer
2:55
Speaker 3: to your money goals, we want to hear it. Pretty please,
2:58
Speaker 3: yes tell us. You can even tell us in private
3:00
Speaker 3: and say Victoria, don't tell anybody my name, but like,
3:02
Speaker 3: this is what I did, and I'll be like Queen
3:04
Speaker 3: pop Off. So please please please share your reviews of
3:07
Speaker 3: She's on the Money. I doally on Apple podcasts, but
3:10
Speaker 3: we accept them literally anywhere. So this week's one comes
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Speaker 3: from Chavelle. I believe is how you say her name,
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Speaker 3: and she says, I started listening to She's on the
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Speaker 3: Money when I was trying to get my life together financially,
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Speaker 3: and I'm still very much a work in progress, but
3:25
Speaker 3: I want you to know that I finally set a budget,
3:28
Speaker 3: I'm more aware of where my money is going, but
3:30
Speaker 3: I'm still in debt and I'm just figuring it out,
3:33
Speaker 3: and honestly, this podcast makes me feel like that is
3:36
Speaker 3: more than Okay. The community is what keeps me coming back.
3:39
Speaker 3: I'm in the Facebook group. It is really honest. It's
3:42
Speaker 3: non judgmental, and it makes me feel like you're not
3:44
Speaker 3: the only one trying to just be better with money.
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Speaker 3: It's not about being perfect, but it is about making progress,
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Speaker 3: and that's a lesson that it took me too long
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Speaker 3: to learn.
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Speaker 4: Oh that's lovely, that's amazing, you're doing great. Yeah, progress
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Speaker 4: is such a positive, wonderful thing.
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Speaker 3: Serious like that, because like I don't know, sometimes you
4:02
Speaker 3: hear a review and it's like, oh, all these people
4:04
Speaker 3: are buying nails. It's all setting up investment portfolios or
4:07
Speaker 3: like finally being in the best possible position. But like,
4:10
Speaker 3: changing your mindset is the hardest part, and we don't
4:14
Speaker 3: give that enough credit for sure. So that's why I
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Speaker 3: peached that one this week.
4:17
Speaker 5: Amazing, Thank you so much.
4:19
Speaker 3: I love it all right. Moving on from five star reviews,
4:21
Speaker 3: it is that time of the week, the moment on
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Speaker 3: Friday drinks where you finally get to ask the question
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Speaker 3: that you've been dying to know of us, money, work, insurance, pets.
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Speaker 3: It can be literally about anything, and this week's question
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Speaker 3: came to us via DM and Mia would really like
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Speaker 3: to know if your pets could talk, what kind of
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Speaker 3: person would they say you are?
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Speaker 4: I think my cats would say I'm neaedy, Like first
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Speaker 4: thing I do when I come in, I'm like, where
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Speaker 4: are my cats? Where are my baby? And then like
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Speaker 4: anytime I sit anywhere or lie anywhere?
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Speaker 6: Am I come here? And they're like, we just want
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Speaker 6: to chill, like give mesus space, you know what. That's
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Speaker 6: what my pets would stay about. Jess too, she comes
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Speaker 6: into my house and she's.
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Speaker 3: Like, Bailey.
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Speaker 4: Love, Oh my god, so c So I think that's
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Speaker 4: what they say that. And I would like to think
5:14
Speaker 4: they say that I'm laughing because I do. I love
5:16
Speaker 4: them so much my heart would explode.
5:18
Speaker 3: Oh that is so cute.
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Speaker 5: Yess, Oh my god, you don't have a pet.
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Speaker 7: A pet, but my friend, Yes, my best friend's dog.
5:26
Speaker 7: I love her more than I've ever loved a dog.
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Speaker 1: Ever.
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Speaker 5: I'm not really like, it's not likely. I dislike dogs everything.
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Speaker 7: I hate dogs, but I just don't like I have
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Speaker 7: a funny like germ thing with like all, I can't
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Speaker 7: touch curtains, I.
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Speaker 5: Can't touch dogs. I can't.
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Speaker 7: So it's not like I don't like dogs, and I
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Speaker 7: just have a funny, irrational phobia of random things, and
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Speaker 7: so dogs happen to be one of them. I can't
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Speaker 7: touch them. But I don't know that about you. I
5:48
Speaker 7: know buttons, plastic buttons, can't touch them. Podge is my
5:52
Speaker 7: best friends.
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Speaker 3: She makes me do the leave.
6:00
Speaker 4: Pod you have to say.
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Speaker 3: I think would be confused.
6:02
Speaker 7: She's we just love each ollings so much, but she
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Speaker 7: I think she'd be confused because I'm constantly talking when
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Speaker 7: like no one's around. There's something about having an animal
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Speaker 7: in the house that you feel like you can talk
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Speaker 7: out loud, and.
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Speaker 5: So she would just be so I think she'd.
6:15
Speaker 7: Be so confused by everything about me, because I'm going
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Speaker 7: I'm switching from like really irritated by something, you know,
6:21
Speaker 7: in like your like shirt gets wrapped around the washing
6:24
Speaker 7: machine middle pole, like I'm so angry, and then I'm
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Speaker 7: like so excited, and then so she would just be like,
6:31
Speaker 7: whoa bro, what's going on here? But she would also
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Speaker 7: I think she would say that she loves me and
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Speaker 7: I love her and that's all cutey.
6:39
Speaker 5: What's Lasi got today?
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Speaker 3: Oh my pets? I have three. I have two cats
6:44
Speaker 3: and a dog, and I've got two Tonkinese cats. And
6:48
Speaker 3: those are inherently needy cats. But because they've got a
6:51
Speaker 3: little bit of Siamese in them, they're incredibly independent. But like,
6:55
Speaker 3: you can't predict when. So most of the time they've
6:58
Speaker 3: got their Burmese on and they're like, oh, pat me,
7:00
Speaker 3: tell me I'm pretty. I want to lay on your face.
7:02
Speaker 3: And then sometimes they'll look at you like you're the
7:05
Speaker 3: scum of the earth. And they'll look at you like,
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Speaker 3: why did you even choose to exist today? And why
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Speaker 3: are my biscuits to the left? Like the judgment coming
7:16
Speaker 3: off their faces. So I think that they would think
7:18
Speaker 3: I was insufficient. They'd be like, this woman provides everything.
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Speaker 3: A roof over our heads, comfortable beds, food, premium food,
7:29
Speaker 3: heated floor in our bathroom. We have a heated floor.
7:33
Speaker 3: They are living, I would say, the good life. But
7:35
Speaker 3: they look at me like this woman does nothing for us.
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Speaker 3: What does she do? This poverty? This poverty, And I
7:45
Speaker 3: will come home and because they are such needy cats,
7:47
Speaker 3: they both run at the door and it's like my
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Speaker 3: favorite thing, Jesse. You would have experienced it when you
7:51
Speaker 3: come over to my house, all pets at the door,
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Speaker 3: and now we have kids, it's all pets and kids
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Speaker 3: like cute. Yeah, it's like the welcoming party. And that's
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Speaker 3: literally what we call it, because Lucy will grab a
8:02
Speaker 3: toy and be like, oh God, there's someone here. I
8:04
Speaker 3: need to bring them a gift, and then my toddler
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Speaker 3: will be like, ohh yes, and then my cats will
8:08
Speaker 3: be like, oh, I guess we've got to see what
8:10
Speaker 3: the cat's dragged in, and like everyone comes to the door. Yeah,
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Speaker 3: they'd just be like our leader incompetent.
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Speaker 5: Oh my god. So it's like lifestyle creep, but like
8:19
Speaker 5: for the cats.
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Speaker 3: Yeah, I've actually experienced significant lifestyle creep because of my pets.
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Speaker 3: I bought my cat on gum Tree for two hundred
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Speaker 3: and fifty dollars. I adopted him because someone was putting
8:32
Speaker 3: him up for adoption, and yeah, it just went from there.
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Speaker 3: Then I bought another cat, and then I bought a dog,
8:37
Speaker 3: and then I've upgraded their food and now I upgrade
8:40
Speaker 3: their beds, and then they I bought a cat tree
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Speaker 3: on the internet, like what.
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Speaker 7: And now they're like, Okay, this is sorry, just not
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Speaker 7: enough for us.
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Speaker 3: No, They're like, you think you can impress us with that.
8:51
Speaker 3: I'm trying. I really am trying, and I feel like
8:55
Speaker 3: I'm consistently trying to make them happy doing the cats.
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Speaker 3: The dog though, she'd be like, I love her best
9:03
Speaker 3: friend ever sweek. Yeah, Like if I tripped over her
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Speaker 3: and hurt her, she'd be.
9:09
Speaker 5: Like, don't worry, I love you.
9:12
Speaker 3: Likes so cute anyway, That's what my pet would think
9:14
Speaker 3: of me. Big questions that you guys send are very unhinged,
9:18
Speaker 3: but we like them. Keep them coming. If you have
9:20
Speaker 3: a question that you need answered on our podcast, send
9:23
Speaker 3: them through. We love them, we love reading them, we
9:25
Speaker 3: love recording them, and we love talking about which one
9:28
Speaker 3: we're going to pick this week, because there are a lot.
9:31
Speaker 3: And sometimes I'm like, what the hell is wrong with
9:33
Speaker 3: you guys, And then I'm like, the same thing that's
9:35
Speaker 3: wrong with us? Now, Miss jessic Reed, she tell me
9:39
Speaker 3: what this week's money wins.
9:42
Speaker 4: Brand wants to start off with the pets train from Tay,
9:44
Speaker 4: who said Derek is a money loss, but the best
9:47
Speaker 4: new addition to our little family. We of course have
9:49
Speaker 4: a beautiful pet tax photo. White puppy, so cute.
9:56
Speaker 3: It looks like a sheeperdoodle.
9:58
Speaker 4: Derek does look kind of like a sheeper doodle does.
10:00
Speaker 4: It's definitely a.
10:00
Speaker 3: Bit of Derek. Looks like Derek is going to be big.
10:02
Speaker 4: Yeah, that's no curious. Next, I've got one from Gemma
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Speaker 4: who said I found ten dollars on the ground hopping
10:07
Speaker 4: off the train on Saturday night. I looked around to
10:09
Speaker 4: see if anybody looked concerned, and held it just in
10:11
Speaker 4: case someone came up to be but nobody claimed it.
10:14
Speaker 4: I think that's right for yours now, Gemma.
10:16
Speaker 3: That's a genuine, clean money win.
10:18
Speaker 6: Yeah.
10:19
Speaker 4: Next, I've got one from Anita, who said, not really
10:20
Speaker 4: a money win. However, I was teaching at a very
10:23
Speaker 4: low socioeconomic school today and I noticed that they had
10:26
Speaker 4: chees on the Money's Book in their library resources.
10:29
Speaker 3: Ah.
10:30
Speaker 4: So excited to know that these primary kids are being
10:32
Speaker 4: taught sound money practices that can literally change their life.
10:35
Speaker 5: Cool.
10:35
Speaker 3: How sweet is that? I don't know if I'm opening
10:38
Speaker 3: myself up to a bombardment of having to send books out,
10:41
Speaker 3: but if you're a library teacher and you don't have
10:43
Speaker 3: our book in your library and you would like it,
10:45
Speaker 3: and you are a public school, send me a DM.
10:49
Speaker 4: I like the first let's put a number on it.
10:52
Speaker 4: Jess is like like, what like fifty?
10:55
Speaker 3: Yeah, yeah, yeah, like the first fifty can have one perfect, great,
10:58
Speaker 3: because that's going to become as Jess like, that's my problem.
11:02
Speaker 3: Is gonna makee me send out hundreds of packages? Yeah,
11:04
Speaker 3: like we'll send up fifty books. Yeah, that's easy.
11:06
Speaker 5: We love you guys. God librarians my favorite.
11:08
Speaker 3: Oh my gosh, I can sign it for the schools.
11:10
Speaker 5: That would be really yeah cute.
11:13
Speaker 3: Yeah, I just thought I think it's important. Obviously, I
11:16
Speaker 3: wrote the books because I believe in financial literacy, not
11:18
Speaker 3: just because I want my book in your library, but
11:19
Speaker 3: also that's cool.
11:21
Speaker 5: Yeah, that's cool, genuinely.
11:22
Speaker 7: All right.
11:22
Speaker 4: Next, I've got moneyman from Claire, who said money when
11:24
Speaker 4: I found out that some car insurance companies will produce
11:27
Speaker 4: your premium if you drive less than fifteen thousand Columbus
11:30
Speaker 4: per year. I really only use my car to drive
11:32
Speaker 4: my parents take mum grocery shopping. So now I'm paying
11:35
Speaker 4: half of what I was before. In fact, it's cheaper
11:38
Speaker 4: than dropping to third party would have been.
11:40
Speaker 5: Oh so if you're someone who.
11:41
Speaker 4: Doesn't get out and about too much, if you're in
11:43
Speaker 4: a walkable area or a bit of a homebody, look
11:46
Speaker 4: into that. I think that's great advice.
11:47
Speaker 3: How ayah I add something to that please. So I
11:51
Speaker 3: recently moved house and I didn't previously have a garage,
11:55
Speaker 3: and so instead of just updating my address with my insurer,
11:58
Speaker 3: I called them and was like, hey, like I've moved
12:01
Speaker 3: and like I didn't know that I needed to do this,
12:03
Speaker 3: but they asked and they were like, oh, there's anything
12:06
Speaker 3: about your house changed, And I was like, yeah, it's
12:08
Speaker 3: a different house. What do you want to know? But
12:12
Speaker 3: because I have a lockable garage now, my premiums dropped.
12:15
Speaker 3: So if you've a street park, yeah, but if you've
12:18
Speaker 3: moved house and like maybe now you're parking in your
12:21
Speaker 3: own yard not on the street, or you're in a
12:23
Speaker 3: garage like that could drop your premium. So it's not
12:26
Speaker 3: just about oh, I have to update my address so
12:28
Speaker 3: that the you know, insurance premiums come to the right house. Yeah,
12:31
Speaker 3: let them know the semantics and it could benefit you.
12:34
Speaker 5: That's great.
12:35
Speaker 4: So handy. And then last week another one that's very
12:37
Speaker 4: on theme for this episode is from rachel Essay last week,
12:40
Speaker 4: last one. Sorry everybody, it's Friday. Rachel said she's holding
12:44
Speaker 4: his steady with ETFs, despite it also being her house.
12:47
Speaker 3: Deposit, giving me anxiety making your house deposit ETFs.
12:51
Speaker 5: But you do you come back to the holding part.
12:53
Speaker 3: Well done.
12:54
Speaker 5: Yes, that's the good on the holding part, yes, exactly,
12:57
Speaker 5: all right.
12:57
Speaker 3: I love that and I love how I guess everyone
13:01
Speaker 3: not just like our team rallies around a good money whin.
13:03
Speaker 3: I was like in the thread the other day and
13:04
Speaker 3: I'm like, you guys give out likes like they are candy,
13:08
Speaker 3: like you just like everyone's stuff. I keep that up. Also,
13:12
Speaker 3: like love heart here, I like doing the like friendship one.
13:16
Speaker 3: Is it like the care one with the love heartthnds. Yeah,
13:19
Speaker 3: very cute. Please more of that more often. In our
13:21
Speaker 3: Facebook group, Miss beccayed break tips time when you got
13:26
Speaker 3: for us?
13:27
Speaker 7: All right, So this first one comes from I also
13:30
Speaker 7: have a Gemma and it's confirmed you're about to get
13:33
Speaker 7: three hours of free electricity every single day. So basically
13:37
Speaker 7: this is the only Victoria, sorry should say Victoria. The
13:41
Speaker 7: state's new midday power saver scheme will require energy retailers
13:44
Speaker 7: to offer a discounted tariff during the middle of the
13:47
Speaker 7: day when Victoria's solar output is pumping out more energy
13:51
Speaker 7: than the grid actually needs. So that means that if
13:54
Speaker 7: you have to wash your clothes, if you have to,
13:56
Speaker 7: I don't know what else you do. Run the vacuum, yes,
14:00
Speaker 7: exostly do all those things, charge devices, charge your devices exactly. Yeah,
14:06
Speaker 7: do all that in the middle of the day. So
14:07
Speaker 7: households could save up to three hundreds a year, which
14:10
Speaker 7: I know.
14:10
Speaker 3: Is like that's a good money when isn't that good?
14:13
Speaker 3: That's a really good one to say.
14:14
Speaker 4: They're rolling that out.
14:15
Speaker 3: This will be from October. Yeah, October, so we've got
14:19
Speaker 3: some time to plan. I know a lot of people
14:21
Speaker 3: are like, well, I'm not home during the day. That's okay,
14:24
Speaker 3: because do you know what your washing machine probably has
14:26
Speaker 3: that you didn't know, a delayed time function.
14:29
Speaker 4: Yeah.
14:30
Speaker 3: So my washing machine and my dryer have that. And
14:32
Speaker 3: I don't have like fancy top of the range washing
14:35
Speaker 3: machine or dryer. We just have the washing machine and
14:37
Speaker 3: dryer that my husband and I bought when we moved out.
14:39
Speaker 3: And that's fine, but you could delay it. So if
14:42
Speaker 3: before work you chuck your washing on and then set
14:44
Speaker 3: it for like three or four hours. In the future,
14:48
Speaker 3: it'll wash while you're at work. It'll be free, and
14:51
Speaker 3: then when you get home you've just got some washing
14:53
Speaker 3: to hang out extra productive.
14:55
Speaker 5: Even like soak time you could do it.
14:57
Speaker 3: Yeah, total week thing which time there's twenty twenty six.
15:02
Speaker 3: You can probably work around a lot.
15:04
Speaker 5: Probably an asmugs.
15:05
Speaker 3: Yeah, smart plugs, you're only doing something yeah good.
15:09
Speaker 5: Hell yeah okay.
15:10
Speaker 7: Next one comes from chivon who is sent me this
15:13
Speaker 7: real I'm so into my reels these days. So a
15:16
Speaker 7: japan twenty twenty six pro tip. There is a website
15:21
Speaker 7: that it is in Japanese. It's zero zero zero area
15:26
Speaker 7: dashweekly dot com and by the looks of it, you can,
15:30
Speaker 7: depending on your browser and what device you're using, you
15:32
Speaker 7: can like make it translate. If you can't understand Japanese,
15:36
Speaker 7: then you can see what it's saying. But it's basically
15:38
Speaker 7: where you go to find really cheap accommodation. So I
15:41
Speaker 7: think it's like we did an episode about travel tips
15:44
Speaker 7: not long ago, where it's like, if you buy things
15:46
Speaker 7: from that country's website in that country's language or whatever,
15:51
Speaker 7: then it tends to be cheaper. So it's basically that
15:55
Speaker 7: same exact thing, but just for specifically Japan and specifically accommodation.
16:00
Speaker 4: And Pans an amazing country to visit.
16:01
Speaker 5: Oh, that's incredible, it's incredible. It's the best.
16:04
Speaker 7: And then my one I saw it's like a hack
16:06
Speaker 7: for getting oil stains out.
16:08
Speaker 5: Where the hell these oil stains coming from?
16:11
Speaker 3: Why don't you just call me? Oh, I'm the cleaning queen.
16:14
Speaker 3: Ye're true? Okay, have another one.
16:17
Speaker 7: This one is you pop your shirt or whatever it is,
16:21
Speaker 7: onto a counter, You pour some baking soda, put the
16:25
Speaker 7: paper over the top an iron, and then you put
16:29
Speaker 7: the iron on top of the baking paper.
16:31
Speaker 5: Is this making sense everyone?
16:32
Speaker 4: Yes?
16:32
Speaker 5: And then you just.
16:33
Speaker 7: Iron the oil stain out and you don't even have
16:37
Speaker 7: to wash it again.
16:38
Speaker 5: That's yeah, it's insane.
16:40
Speaker 3: I use it on all of Harvey's daycare jumpers because
16:44
Speaker 3: you know how like sometimes jumpers get like the oil stain,
16:46
Speaker 3: and no matter how many times you put it through
16:47
Speaker 3: the washing machine, it's like maybe a navy jumper and
16:50
Speaker 3: then it has like a darker spot on it. Yes, yeah,
16:53
Speaker 3: Bui carb soda on top baking paper and then you
16:56
Speaker 3: just hold the iron, burn the crap out of it.
16:59
Speaker 5: Yeah, yeah, totally.
17:00
Speaker 3: Wipe it off, brush off, shake it out.
17:02
Speaker 5: And then you're done.
17:03
Speaker 7: Another I've broke it would be if anyone knows where
17:05
Speaker 7: the hell oil scenes come from, because I'm never cooking food, Babe,
17:09
Speaker 7: I'm never cooking.
17:10
Speaker 3: I don't cook. Yeah, but like you eat?
17:13
Speaker 5: Oh true, crazy, I do cook. Sorry everyone, every week
17:18
Speaker 5: that's me.
17:18
Speaker 3: I love that. All right, let's go to a really
17:20
Speaker 3: quick break on the flip side. We're going to be
17:22
Speaker 3: asking whether you should sell all your shares when the
17:25
Speaker 3: market takes a turn and we have a juicy DM
17:28
Speaker 3: about what are we paying for wedding gifts if we're
17:31
Speaker 3: already paying for flights and accommodation to get overseas in
17:34
Speaker 3: the first place, So guys don't go anywhere.
17:40
Speaker 4: Welcome back, everybody. Let's take a listen to this week's
17:43
Speaker 4: money dilemma.
17:46
Speaker 3: Hi, there, have you got a money dilemma you just
17:48
Speaker 3: can't solve? The Cheese on the Money team is here
17:51
Speaker 3: to help. Every week, we tackle your dilemmas, both big
17:54
Speaker 3: and small, to answer your most burning money, career and
17:57
Speaker 3: life questions. To get involved, simply head to our website
18:00
Speaker 3: and leave us a short voice recording and you might
18:02
Speaker 3: just find yourself on the show. Now, let's take a
18:05
Speaker 3: listen to this week's money dilemma.
18:09
Speaker 8: Haishews on the money, just an investing question. I've had
18:12
Speaker 8: a few people close to me tell me that with
18:14
Speaker 8: the war overseas, the economy, and the markets sort of
18:18
Speaker 8: crashing in areas that I should be pulling out all
18:21
Speaker 8: of my investing money and just banking that or keeping
18:25
Speaker 8: it in my pocket. I wasn't originally going to do
18:27
Speaker 8: this because I know that time in the market's really important,
18:30
Speaker 8: and I was hoping that in five to ten years
18:32
Speaker 8: time this would just balance out and sort of be
18:36
Speaker 8: behind us. Just a bit of a background, I have
18:39
Speaker 8: twenty four thousand dollars in cfs with colonial First States.
18:43
Speaker 8: It is balanced at fifty to fifty in AUS shares
18:46
Speaker 8: and index balance that currently has a two hundred and
18:49
Speaker 8: seventy three dollars return. I'm no longer putting money into that.
18:53
Speaker 8: I'm just letting it grow. I'm now putting fifty dollars
18:55
Speaker 8: a fortnit into my shares his account, which is currently
18:58
Speaker 8: at two hundred and twenty seven dollars. It's sort a
19:00
Speaker 8: loss of seventeen dollars. Now, my breakdown at the fifty
19:03
Speaker 8: dollars per fortnite into ETFs is, twenty five percent into Asia,
19:08
Speaker 8: twenty percent into IXJ, forty percent into IVV, and fifteen
19:13
Speaker 8: percent into Reeds.
19:14
Speaker 3: Thanks Beck, what are you doing? So if you've got
19:17
Speaker 3: your investment portfolio and then everyone around you giving opinions.
19:22
Speaker 5: No, no, no, don't touch it, don't touch it.
19:24
Speaker 7: I was also like, would you have a lot of
19:26
Speaker 7: episodes on investing and shares and things like that and so,
19:29
Speaker 7: and obviously I can not give advice, but personally, I'm
19:32
Speaker 7: thinking that the thing that I bought is the house
19:36
Speaker 7: I'm calling a share a house or an ETF a house.
19:39
Speaker 7: The house is worth way less now because the market's
19:41
Speaker 7: not doing very well. I'm not like quickly selling it,
19:43
Speaker 7: quickly sell it's worth way less. I'm staying and I'm
19:47
Speaker 7: keeping it. And not only that, but I'm buying up
19:49
Speaker 7: are the houses now because they're so cheap, buying up
19:52
Speaker 7: houses and so by the time it levels back out,
19:56
Speaker 7: it recovers, and then it moves beyond recovery, goes into
19:59
Speaker 7: a surplus. To say that, then I've just got I've
20:02
Speaker 7: got so much money, and you know who's to say
20:05
Speaker 7: that's going to happen, but I just would not be
20:08
Speaker 7: don't rush, don't panic.
20:09
Speaker 5: I just like, sit on it, sit on it.
20:10
Speaker 3: And why wouldn't you? Because it is this why.
20:14
Speaker 7: I say, like the asset that I bought, it's from
20:16
Speaker 7: you guys. The asset that I bought is now worth
20:21
Speaker 7: way less. But I know historically, by judging by what
20:25
Speaker 7: what has happened in the past, it's going to recover.
20:27
Speaker 7: It's going to come back to the same mass of value,
20:31
Speaker 7: thank you so much, or even be better. And I'm like,
20:35
Speaker 7: why am I selling it now when it's worth way less? No,
20:37
Speaker 7: it's going to come back.
20:38
Speaker 3: I'm just wait, thank you, I'm not needed here.
20:42
Speaker 5: Actually, actually, could you get us a couple of tears? Actually,
20:47
Speaker 5: you just give me a swep up.
20:48
Speaker 3: It's a week's wake out. I'll be back so much.
20:53
Speaker 5: It's the GFC of it all.
20:54
Speaker 4: You know, everyone panicked pulled their money out, Whereas the
20:57
Speaker 4: data in our shows depending on what you're invested in.
20:59
Speaker 3: But you know, based on a set drive you would
21:01
Speaker 3: continue to invest throughout the GFC.
21:02
Speaker 4: You would have been in a very tidy surplus as
21:05
Speaker 4: opposed to the people who pulled their money out and
21:07
Speaker 4: so worded a significant loss. I'm not sure if it's
21:09
Speaker 4: out yet. If it is out, we'll eg in the
21:10
Speaker 4: show notes. We have a full episode coming because we
21:12
Speaker 4: know a lot of people are thinking about this on
21:15
Speaker 4: what should you be doing? Should you be panic but
21:18
Speaker 4: selling all those sorts of things. I know that it's
21:20
Speaker 4: very overwhelming with everything that's coming on in the world
21:22
Speaker 4: right now, we hear you, So give that episode a listen.
21:25
Speaker 4: We'll link down below if it is out. If not,
21:26
Speaker 4: it'll be coming very very shortly. The one thing I
21:29
Speaker 4: did want to flag is you said that your plan
21:32
Speaker 4: was to hold on to the shares that you have
21:36
Speaker 4: because you know that they will be worth a lot
21:38
Speaker 4: after the market recovers. And I just want to gently
21:43
Speaker 4: correct or reframe a little bit when we talk about
21:46
Speaker 4: those sorts of things. It's like by low sell high.
21:48
Speaker 4: So if you've got shares that you bought prior to
21:50
Speaker 4: the dip, they will recover and hopefully continue to trend up.
21:55
Speaker 4: But just the way that you phrased it, I was like,
21:58
Speaker 4: I just wanted to kind of flag that, do you
21:59
Speaker 4: know what I mean? And we talk about the example
22:01
Speaker 4: you were giving buying up all the houses while they're cheap,
22:04
Speaker 4: is more so applicable now that everything is worth a
22:07
Speaker 4: lot less. If you were to purchase things as the
22:10
Speaker 4: market starts to recover, the value of them also increases.
22:14
Speaker 4: Where if you have assets that you purchased prior to
22:17
Speaker 4: the dip, Like for me, a lot of my portfolio
22:18
Speaker 4: was purchased prior to the dip, it's now worth a
22:21
Speaker 4: lot less, and if I held on to it as
22:24
Speaker 4: the market recovered, I would kind of get back to
22:26
Speaker 4: ground zero eventually, if that makes sense, and then hopefully
22:28
Speaker 4: it would continue to climb after that. But I've kind
22:31
Speaker 4: of got to get back to where I was as
22:33
Speaker 4: opposed to if you're buying while it's on sale and
22:35
Speaker 4: then it increases in value, you're making money.
22:39
Speaker 5: On it, so to speak.
22:41
Speaker 4: Yes, I hope that makes sense.
22:42
Speaker 3: Good point yep, did what you guys said. But I
22:47
Speaker 3: also like stepping back turns out the advice side. I'm
22:50
Speaker 3: not doing this time. I'm actually just gonna talk about
22:53
Speaker 3: your friends circle. I'm not saying they're bad, I'm not
22:56
Speaker 3: saying they're good. I'm just saying are a financial advisors?
23:00
Speaker 3: Like where are you getting your information from? Like who
23:03
Speaker 3: are you chatting to? If someone's like, oh you should
23:05
Speaker 3: sell it. Who were they to have that opinion. I'm
23:09
Speaker 3: not saying don't have these conversations, because they're really fun.
23:13
Speaker 3: But I am saying, like, in my favorite book, The
23:17
Speaker 3: Richest Man in Babylon, which is the most dry book
23:20
Speaker 3: you will ever read, and I don't think I could
23:22
Speaker 3: pay Jessica to read it, it talks about investing principles
23:27
Speaker 3: from you know, when investing started, and there's a piece
23:30
Speaker 3: of advice in there that says you wouldn't take advice
23:34
Speaker 3: on buying diamonds from a bricklayer. And I think that
23:37
Speaker 3: that's a really important piece of advice here, Like, if
23:40
Speaker 3: you were going to go buy a diamond, you're not
23:43
Speaker 3: going to go into a shop and be like, love
23:45
Speaker 3: to speak to a bricklayer. What is your advice on
23:47
Speaker 3: buying a diamond? You work with bricks, they're hard, diamonds
23:50
Speaker 3: are hard. I guess you'd know you're probably going to
23:53
Speaker 3: go to a gem specialist. So I would be implementing
23:56
Speaker 3: that here too. If you're getting all this conflicting advice
23:59
Speaker 3: and it's making you feel overwhelmed, step back and go
24:02
Speaker 3: where am I getting this advice? That would probably be
24:06
Speaker 3: where I start. Yeah, sound advice.
24:10
Speaker 4: Thank you for Zione, who does know about finances.
24:14
Speaker 3: Boy, I didn't have any financial opinions this time because
24:16
Speaker 3: apparently I taught my friends too well.
24:19
Speaker 5: Just such a good teacher.
24:20
Speaker 3: Oh thanks, I'm going to exit the show soon. Is
24:22
Speaker 3: it going to be fantastic?
24:24
Speaker 5: All right?
24:25
Speaker 3: I have a DM, and this one I feel like
24:28
Speaker 3: is really good. I feel like I've said this a
24:31
Speaker 3: number of times about other ones, but like, I don't know,
24:34
Speaker 3: I just feel like there's lots of opinions. So let's
24:36
Speaker 3: jump into it. This week's DM, I was hoping to
24:40
Speaker 3: get some advice from you guys. I'm heading to a
24:42
Speaker 3: family member's wedding in Europe this year, and I'm a
24:45
Speaker 3: bit unsure about what's appropriate in terms of a cash gift.
24:49
Speaker 3: Between flights and accommodation, my partner and I are already
24:52
Speaker 3: spending around two thousand dollars on airfares and around eight
24:56
Speaker 3: hundred dollars on accommodation for just two nights. Have said
25:00
Speaker 3: no gifts are expected, but I really can't help but
25:03
Speaker 3: feeling like we should still be giving something. What would
25:06
Speaker 3: you do in this situation?
25:08
Speaker 5: M Mmmm, no gifts, no gift.
25:12
Speaker 7: I think it's it's like you're spending so much money
25:15
Speaker 7: to be there. And I think even like not a
25:17
Speaker 7: destination wedding, like a wedding right in your own backyard.
25:20
Speaker 7: I'm like, I don't think that gifts are essentially really
25:23
Speaker 7: like it really does stress people out. I feel like,
25:25
Speaker 7: if you're like someone who's living paycheck to paycheck and
25:27
Speaker 7: you get a wedding invite, you are I don't know
25:28
Speaker 7: about everyone, but I am anxious. I'm like, well, I
25:32
Speaker 7: gotta buy clothes. I gotta like at least be presentable.
25:36
Speaker 7: I've got to buy a gift. It's like scrap at all.
25:39
Speaker 7: I know that doesn't like just take away the whole
25:41
Speaker 7: societal pressure, and you might rock up without a gift
25:43
Speaker 7: and feel really crap all day. I know it doesn't
25:47
Speaker 7: take that away. Just being like, oh no, you shouldn't.
25:49
Speaker 7: You don't have to. But I think you could make something.
25:52
Speaker 7: If you really want to take something and it will
25:54
Speaker 7: just make you feel more comfortable, then I think make something.
25:57
Speaker 7: And it could be like a can like voucher that
26:02
Speaker 7: you've made in CAMBORR, you've made in Word, Microsoft Word
26:05
Speaker 7: or whatever that just says, here is one quality time voucher,
26:11
Speaker 7: and it doesn't have to cost you anything or much. Yeah,
26:13
Speaker 7: I think make something sentimental for this kind of thing.
26:16
Speaker 7: If you feel like you must do something, you do
26:20
Speaker 7: not spend any money.
26:21
Speaker 3: I completely agree.
26:22
Speaker 4: I've said before I'm not a big fan of a
26:24
Speaker 4: cash gift is a general rule. I don't like it.
26:26
Speaker 4: I think it creates this sense of pressure and inequity
26:29
Speaker 4: between people, and just like I don't believe that that's
26:31
Speaker 4: what a gift is. I think it's lovely that the
26:33
Speaker 4: people who's wedding it is have said we don't expect gifts.
26:36
Speaker 4: They've obviously recognized all of the effort and the money
26:38
Speaker 4: that their guests are spending, and I think it's awesome
26:41
Speaker 4: that they've said, you know, nothing is necessary, Please don't
26:43
Speaker 4: feel like you have to bring something.
26:45
Speaker 3: I agree.
26:45
Speaker 4: I am the kind of person, truthfully that would feel
26:48
Speaker 4: like our listener. I'd be like, I do feel like
26:49
Speaker 4: I still need to give you something. And I love
26:52
Speaker 4: the idea of a handmade gift. I think a photo
26:54
Speaker 4: album or something sentimental. If you're creative or artsy, can
26:59
Speaker 4: you anything like that? Is there something in their lives
27:02
Speaker 4: you know that they're doing or they're working on that
27:04
Speaker 4: you can help them with do they have small business plans?
27:07
Speaker 4: You can help them build a website, or can you
27:08
Speaker 4: help them with social media? Or can you you know,
27:11
Speaker 4: what skills have you got that you can give to
27:13
Speaker 4: them that they would otherwise have to pay for. I
27:15
Speaker 4: think that is so valuable and the thoughtful Otherwise I think, like, yeah,
27:20
Speaker 4: sentimentality is such a big thing. Could you you know,
27:24
Speaker 4: have an art piece done, you know, to commemorate the
27:26
Speaker 4: wedding or you know, there's so many good ideas out there,
27:30
Speaker 4: but I think something small that doesn't have to cost
27:32
Speaker 4: you a lot of money that you can give with.
27:34
Speaker 3: Love, because that's what a gift is.
27:35
Speaker 4: Yeah, Like, I don't think you need to go, oh,
27:37
Speaker 4: I feel like I need to give them money to
27:38
Speaker 4: pay for to do something. They've said you don't need to.
27:42
Speaker 4: We all agree you don't need to. We've discussed this
27:44
Speaker 4: point many times. If you still want to give a
27:46
Speaker 4: token of love, make it with love. Yeah, you know,
27:50
Speaker 4: and there's lots of great ways that you can do that.
27:52
Speaker 4: And I do like the gift outr idea if they're
27:54
Speaker 4: moving house, I'll help you move on the day, or
27:56
Speaker 4: you know what I mean. There's so many things. Make
27:58
Speaker 4: it personal to them, which makes it hard for us
28:00
Speaker 4: to make a suggestion on what that might be.
28:03
Speaker 3: Totally I agree. I will come for this from a
28:07
Speaker 3: personal perspective, So I'm not stressed about money at this
28:11
Speaker 3: point in my life. And I have been to overseas
28:13
Speaker 3: weddings in the last two or three years where I
28:16
Speaker 3: have still given a gift, and for me, it's like
28:20
Speaker 3: two situations, right. So Like, if you said to me, Victoria,
28:23
Speaker 3: do you like the idea of overseas weddings, I will
28:25
Speaker 3: inherently just say absolutely not. Like I hate the idea
28:29
Speaker 3: that your wedding would become a financial burden for other people,
28:33
Speaker 3: Like I don't like that is an overseas wedding sick. Yeah,
28:36
Speaker 3: Like how cool? Like I've been to weddings in Thailand.
28:39
Speaker 3: I've been to weddings in Bali and they are so
28:40
Speaker 3: beautiful and I have the best experiences, and like, you know,
28:43
Speaker 3: ultimately you're usually going to a wedding of someone you
28:46
Speaker 3: know well, so all your other friends and family are there,
28:48
Speaker 3: like we have the best times. But from a finance
28:51
Speaker 3: girly perspective, I'm like, oh, I couldn't personally do that
28:56
Speaker 3: because I know that I'd be putting a financial pressure
28:59
Speaker 3: on people, and I don't know their situations, and I
29:01
Speaker 3: just feel like that's not their burden to carry. So
29:04
Speaker 3: it's not a choice I would make in saying that
29:07
Speaker 3: I love a wedding, I love gift giving. I still
29:10
Speaker 3: wanted to gift them something. And what we have done
29:14
Speaker 3: for the wedding that we went to last time was
29:16
Speaker 3: we actually got together with everybody that we were traveling
29:20
Speaker 3: with and said, hey, we still kind of want to
29:22
Speaker 3: get them a nice gift, and we all put in
29:24
Speaker 3: a smaller amount of money to buy a really nice
29:26
Speaker 3: restaurant voucher for their first wedding anniversary. So like we
29:31
Speaker 3: all didn't put in heaps, but like they got to
29:33
Speaker 3: go to a bougie restaurant, we still got to write
29:35
Speaker 3: them a really nice card. It was something that they
29:37
Speaker 3: could experience, and as you guys know, I love an
29:40
Speaker 3: experience present over like a physical present. And then the
29:43
Speaker 3: one before that, I organized some stuff for the wedding
29:47
Speaker 3: once we were over there and I was like, oh,
29:48
Speaker 3: we'll pay for that in lieu of, you know, a gift,
29:51
Speaker 3: but I still wrote a really nice card. So one
29:53
Speaker 3: of my love languages is writing cards and like, you know,
29:56
Speaker 3: giving them something because like, I don't know when was
29:58
Speaker 3: the last time you got a car that actually had
30:01
Speaker 3: more than two Victoria from Victoria in it. You know,
30:04
Speaker 3: like it just is so nice when someone has sat
30:06
Speaker 3: down and been like, hey, here's an opportunity for me
30:09
Speaker 3: to tell you how much you mean to me and
30:12
Speaker 3: the contributions you've made to my life, or even just
30:15
Speaker 3: like oh, you make me feel like a good person
30:17
Speaker 3: when you're around. Like that I think is really undervalued. Yeah,
30:22
Speaker 3: so there are lots of ways, but like my suggestion
30:25
Speaker 3: is maybe you could like crowdsource a gift and you
30:27
Speaker 3: all contribute like twenty or thirty bucks and they you
30:30
Speaker 3: buy a really nice restaurant voucher and it covers their
30:32
Speaker 3: whole meal. Yeah, and they get to go on a
30:34
Speaker 3: date because of you. And I'm telling you right now,
30:36
Speaker 3: as someone who's had a wedding. Straight after the wedding,
30:39
Speaker 3: you're not prioritizing going out for dinner because that's expensive
30:42
Speaker 3: and you've just spent all your money on a wedding.
30:44
Speaker 5: Yeah yeah, what did everybody else say?
30:46
Speaker 3: So first we asked them some questions, and we said,
30:48
Speaker 3: is covering your travel considered enough in this situation, eighty
30:52
Speaker 3: three percent of you said yes, seventeen percent said no. Yep.
30:56
Speaker 3: Next question we asked was do expectations change when it's
30:59
Speaker 3: a close family member, literally bang down the middle fifty
31:03
Speaker 3: fitty Next question we asked was would you feel guilty
31:07
Speaker 3: not giving anything? Fifty nine percent of you said yes
31:10
Speaker 3: and forty one percent said no. And then obviously we
31:13
Speaker 3: were like, cool, question time, what is your two cents?
31:17
Speaker 3: Someone gave me a three partter. Okay, thank you, thank you.
31:21
Speaker 3: I'm going to read out the whole thing. So this
31:23
Speaker 3: person said, I'm having a wedding in Spain and I'm
31:26
Speaker 3: from Melbourne. We are absolutely not expecting gifts from anyone
31:29
Speaker 3: in today's economy. It's ridiculous to expect both. We chose
31:33
Speaker 3: the wedding locations, not the guests. I don't think it
31:35
Speaker 3: is fair to expect them to pay for travel and
31:37
Speaker 3: a gift. I see that as being very greedy.
31:40
Speaker 4: I agree.
31:41
Speaker 3: I love that that's coming from a bride as well,
31:43
Speaker 3: because it's kind of giving you validation like theybe for real,
31:46
Speaker 3: when we're picking an overseas wedding destination, we do not
31:49
Speaker 3: expect anything from you, totally. Next person said buy something
31:52
Speaker 3: small like maybe a house gift, or just give them
31:55
Speaker 3: like one hundred dollars in cash. Another person said I'd
31:57
Speaker 3: give them something sentimental, like a nice photo or a
32:00
Speaker 3: custom item. Another person said, why not purchase something while
32:04
Speaker 3: you're over there so they can remember the trip. Sweet,
32:08
Speaker 3: that's good. I thought that was really cute. This other person,
32:12
Speaker 3: I love this right there, kind and meaningful letter gifts
32:15
Speaker 3: don't have to be monetary.
32:16
Speaker 5: It's so true.
32:17
Speaker 3: I love a letter. I do. It's hard, and if
32:20
Speaker 3: you're not good with words, it takes a while. But
32:22
Speaker 3: then if I know you're not good with words and
32:23
Speaker 3: I got a letter from you, I'd love it even more.
32:25
Speaker 4: Sure.
32:26
Speaker 3: Next person said I was the bride in this scenario.
32:29
Speaker 3: Please do not buy us gifts. We are very serious.
32:32
Speaker 5: Yeah that's lovely, Yes, good yep.
32:34
Speaker 3: Another person said I got married over seas and we
32:37
Speaker 3: would expect nothing from guests, but they did give us gifts,
32:41
Speaker 3: so I feel like we're all the same. Yeah, okay,
32:43
Speaker 3: we've never had an original experience. And then I've got
32:46
Speaker 3: another two parter. I think the bride and groom should
32:49
Speaker 3: specify rather than no gifts necessary, say due to your
32:53
Speaker 3: travel commitments and how much you're investing in this. Please
32:57
Speaker 3: consider this your wedding gift, because I.
33:00
Speaker 5: Have to fit on an invitation.
33:01
Speaker 3: To be fair, we did something similar for our wedding.
33:06
Speaker 3: I don't know if you remember, and you went around
33:08
Speaker 3: for it, Beck, but we said your presence is our present.
33:12
Speaker 3: And that was really cute because we were like, please
33:14
Speaker 3: don't yeah, and then like and it wasn't because we
33:17
Speaker 3: were like, please don't buy gifts, like we were at
33:20
Speaker 3: a stage in life when we are in a stage
33:22
Speaker 3: in life we already had a house, we already had
33:24
Speaker 3: furnished the house. We actually didn't need gifts, like totally,
33:28
Speaker 3: please just come. And so like we were quite I
33:31
Speaker 3: don't know specific about being like, no, we consider you
33:35
Speaker 3: taking the time our gift. And I don't know, I
33:37
Speaker 3: think that that feels like instead of just sweeping it
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Speaker 3: under the rug of like no gifts, yeah, oh no,
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Speaker 3: we considered that a present. It's just a nice way
33:46
Speaker 3: of saying it. Yeah, nice way to look at it, too,
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Speaker 3: nice way anyway, that's also a nice way to wrap
33:50
Speaker 3: the episode. Thanks hanging out with us on another Friday.
33:54
Speaker 3: We're going to see you bright and early on Monday
33:55
Speaker 3: morning for a Monday Diary and I cannot wait by
33:58
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