Latest / She's On The Money / Is a Bridging Loan Worth the Risk? And The Dating Money Red Flags We Can’t Ignore

Transcript

Is a Bridging Loan Worth the Risk? And The Dating Money Red Flags We Can’t Ignore · She's On The Money

0:00
Speaker 1: My name's Sasha Bamblet. I'm a proud First Nations woman
0:03
Speaker 1: and I'm here to acknowledge country t Glenn Young, Ganya, Niana,
0:08
Speaker 1: Kaka yah y and Binahaka nian Ar gay In Mbini
0:11
Speaker 1: yakarum Jar dominyamiga Umagahawaka Woman Damon imlan Bumba ban Gadabomba
0:17
Speaker 1: in and now in wakah ghan On yak rum Jar
0:20
Speaker 1: water Nadaa. Hello, beautiful friends, we gather on the lands
0:24
Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
0:28
Speaker 1: Aberiginal people's land that we're gathering on today. Take pleasure
0:31
Speaker 1: in all the land and respect all that you see.
0:34
Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
0:40
Speaker 1: bringing you the tools, knowledge and resources for you to thrive.
0:45
Speaker 2: She's on the Money.
0:47
Speaker 3: She's on the Money.
1:08
Speaker 2: Hello and welcome to She's on the Money, the podcast
1:10
Speaker 2: that makes personal finance fun, especially on Fridays. Friday is
1:14
Speaker 2: mine and I guess our whole team's favorite day of
1:17
Speaker 2: the week because we get our team together and we
1:19
Speaker 2: get to celebrate you, our incredible She's on the Money
1:22
Speaker 2: community today, no surprises. We're back into the swing of it.
1:25
Speaker 2: Miss Jess Gotrich is going to be sharing some of
1:27
Speaker 2: our favorite community money wins. Miss beck Sayeed is going
1:30
Speaker 2: to be sharing your broke tips from this week, and
1:32
Speaker 2: we're going to be helping to answer a money dilemma
1:34
Speaker 2: about whether a bridging loan is a good idea and
1:37
Speaker 2: a DM that you slid into our inbox about what
1:39
Speaker 2: rules should you put in place when it comes to
1:42
Speaker 2: dating and money, which could be really fun because it's
1:45
Speaker 2: all going to be the good friend. But before we
1:47
Speaker 2: get there, guys, would you like a five star review? Absolutely?
1:51
Speaker 2: So this five star review didn't come for our podcast,
1:55
Speaker 2: Oh sorry, it came from my Investing masterclass And this
2:00
Speaker 2: is from Dha, So she says, I wanted to express
2:03
Speaker 2: that doing the Investing master Class put me in a
2:06
Speaker 2: much better position to understand, digest, and confidently navigate the
2:10
Speaker 2: whole process. It really made a noticeable difference to my
2:13
Speaker 2: confidence levels. Victoria and the team teach financial literacy exceptionally well,
2:18
Speaker 2: which has given me a strong foundation of knowledge to
2:21
Speaker 2: trust in, supported me in navigating the advice I'm getting,
2:24
Speaker 2: and helped me feel comfortable expanding my risk engagement rather
2:28
Speaker 2: than always playing it safe, which actually isn't safe in hindsight?
2:34
Speaker 2: Really sweet, incredible, My fair investors loved it, I know.
2:38
Speaker 2: And my favorite thing is these. Actually, every time someone
2:40
Speaker 2: leaves a five star review for my courses, I actually
2:43
Speaker 2: get it emailed to me. So I get these like
2:46
Speaker 2: emails pretty consistently of people being like, oh my god,
2:49
Speaker 2: the money master Class. Oh my god, the investing mask Class.
2:51
Speaker 2: I do not get sick of it.
2:53
Speaker 4: No, I do not.
2:55
Speaker 2: All right, let's move forward, less master class, more perfect questions,
2:59
Speaker 2: I suppose. So it's time for that part of Friday
3:01
Speaker 2: Drinks where you guys get to as in our community
3:04
Speaker 2: gets to ask us one question that you are dying
3:06
Speaker 2: to know. It can be literally about anything, and this
3:09
Speaker 2: week's question comes from our friend Amber, who wants to
3:12
Speaker 2: know what are your favorite beauty dupes?
3:17
Speaker 3: Oh, I have one number four MC Beauty Vanilla and
3:25
Speaker 3: or no no, no, it's a jeep for soald Asionaire. Sorry, yes,
3:27
Speaker 3: the so what's it called?
3:29
Speaker 4: Saltasionaire? So the one we were looking at it when
3:34
Speaker 4: we were looking at sold Asaire sold Asianaio in Mecca.
3:38
Speaker 4: They have a dupe and it is the most delicious
3:41
Speaker 4: thing I've ever smelled. It honestly smells like something is
3:43
Speaker 4: baking right now in your kitchen and it is the
3:45
Speaker 4: salted caramel pistachio something like that.
3:49
Speaker 3: It's number four. I believe you got you gotta smell
3:51
Speaker 3: this and it is like, I think fourteen dollars or
3:53
Speaker 3: something something else. I don't know.
3:57
Speaker 2: It's like fifty bucks. It's expensive.
3:58
Speaker 3: Expensive, it's expense and so that's the extraight out of.
4:02
Speaker 2: The gates with a beauty dupe. But I did not
4:04
Speaker 2: see her done.
4:06
Speaker 3: Did you see her in Mecca? We went to Mecca
4:08
Speaker 3: at the airport. We went to city for work, and
4:10
Speaker 3: she made a beeline to that thing. I did well.
4:12
Speaker 3: Jess has told me a few things.
4:13
Speaker 2: Am I looking at skincare or makeup more?
4:15
Speaker 3: I'm looking for anything that my girlfriend currently has in
4:19
Speaker 3: her makeup bag so that I can see if it's
4:21
Speaker 3: on special. She's really taught me the ways, the ways
4:24
Speaker 3: of the world.
4:24
Speaker 2: You know, love this, So it's mainly she's being warm.
4:27
Speaker 3: Cream. Yeah, cream.
4:31
Speaker 4: Mine is not a dupe per se, but it's like
4:34
Speaker 4: a little tip slash cheap option. It is instead of
4:37
Speaker 4: doing like a fancy lip glass or even sometimes instead
4:41
Speaker 4: of lipstick, I'll do a Lano lipslip Bump.
4:45
Speaker 3: Fourteen dollars. I think from Mecca.
4:46
Speaker 4: They do all these amazing flavors, and they do these
4:48
Speaker 4: jelly ones that are tinted. Now, So if you do
4:51
Speaker 4: need a bit of color, yeah, when did that happen?
4:53
Speaker 2: I know?
4:54
Speaker 4: So you can do one with a tim if you
4:55
Speaker 4: do want a bit of color. Otherwise, I love to
4:57
Speaker 4: do it over the top of a lipstain, like I
4:58
Speaker 4: love a Benettin or something like. And I find it
5:00
Speaker 4: just wears really nice. It gives you glossy lips, but
5:02
Speaker 4: it feels good. It's not sticky, and you can kind
5:05
Speaker 4: of put it on without really thinking about it. And yeah,
5:07
Speaker 4: like I think they're around the fourteen dollar mark.
5:09
Speaker 2: Gorgeous.
5:09
Speaker 3: I would call that a money in.
5:12
Speaker 2: I'm going to bring the mood down. Oh I hated you, Yeah,
5:16
Speaker 2: I hated you. I don't like MC beauty. You won't
5:21
Speaker 2: catch me working with them. I can't like and I
5:25
Speaker 2: don't particularly care. Oh no, I'm going to burn my
5:26
Speaker 2: bridge there. Well, I wasn't ever going to work with
5:28
Speaker 2: them anyway.
5:29
Speaker 3: It is the ethics of it all.
5:30
Speaker 2: I just can't deal with it. I just go and
5:33
Speaker 2: maybe we could do a whole episode on this dube culture.
5:36
Speaker 2: But they're using another brand's marketing, another brand's product visually
5:42
Speaker 2: to sell you a product that you immediately go, I
5:45
Speaker 2: love this, it's a dupe of this, But then you
5:47
Speaker 2: look at all the ingredients and they are wildly different.
5:49
Speaker 2: Like if you look at any of their products that
5:51
Speaker 2: are packaged exactly the same, like the Charlotte, They've gone
5:55
Speaker 2: rife on Charlotte Tilbury. None of those products are comparable.
5:59
Speaker 2: The packaging identical, Like the packaging is so similar, but
6:02
Speaker 2: then you look at the ingredients and you're like, well,
6:04
Speaker 2: that's not what you're getting, Like you're not getting a
6:07
Speaker 2: like for like product. So I very much believe in
6:10
Speaker 2: just finding products that you really like, not necessarily looking
6:14
Speaker 2: for a dupe of a I don't know, I just
6:17
Speaker 2: the dube culture is getting me because I'm like, you're
6:19
Speaker 2: not actually caring about the product itself. You're caring about
6:23
Speaker 2: the marketing and the branding and being seen with a
6:26
Speaker 2: product or being seen with specific lipstick packaging, and I
6:29
Speaker 2: just feel like that's over consumerism.
6:31
Speaker 4: The definition of a dupe has changed significantly. Because we
6:34
Speaker 4: both loved watching like a YouTube Vita Geo back in
6:36
Speaker 4: the day. I was, yes, same, I participated in the
6:38
Speaker 4: YouTube ud Guru YouTube that was a life stup. But anyway,
6:42
Speaker 4: here know there like back in the day, people would
6:44
Speaker 4: make Jube videos and they would be swatching products like, oh,
6:46
Speaker 4: if you like this mac eyeshadow, you like the color
6:50
Speaker 4: of it, you can't afford it.
6:51
Speaker 3: Here is a comparable boreal version, correct, which I think
6:55
Speaker 3: that I.
6:55
Speaker 2: Have no issue issue with that at all.
6:57
Speaker 3: I completely agree that.
6:58
Speaker 4: I think there are lots of now that try to
7:00
Speaker 4: replicate more high end products and it is as exactly said,
7:03
Speaker 4: it's all in the packaging, and it's like, that's not
7:06
Speaker 4: to me. I think, if you want to find this,
7:09
Speaker 4: you know, like I switched from the Boomboom cream because
7:11
Speaker 4: quite frankly, I can't afford to spend ninety dollars on
7:13
Speaker 4: a body moisture.
7:14
Speaker 3: Absolutely Now I get the soap and glory they.
7:16
Speaker 2: Oh my gosh, they've just released the vanilla one have.
7:19
Speaker 4: Yes, I haven't tried the vanilla, but hey, the vanilla
7:20
Speaker 4: is elite, but like I've switched that and that necessarily
7:23
Speaker 4: isn't a direct dupe, but it's like a comparable product.
7:26
Speaker 4: And to me, when I think due like that's what
7:28
Speaker 4: I think, like these brands ripping off each other's designs, creations,
7:31
Speaker 4: et cetera.
7:31
Speaker 3: Exactly.
7:32
Speaker 2: Not okay, So my favorite jube in that case is
7:34
Speaker 2: the Nivia Soft Cream Julie note it. It is the moisturizer,
7:39
Speaker 2: and Charlotte Tilbury has historically spoken about that being a
7:43
Speaker 2: really great moisturizer, comparable to her Magic Cream, which is
7:47
Speaker 2: like one hundred and fifty dollars a pot. Yeah, I
7:49
Speaker 2: would say that I use the Nivia Soft Cream, by
7:52
Speaker 2: the way, under five dollars for a tube of it
7:54
Speaker 2: at the serial arket. Okay, And that's my daily top
7:58
Speaker 2: up moisturizer slash primer. I love a loreal product, So
8:03
Speaker 2: I love and like I just I really like cosmetics.
8:07
Speaker 2: I can just get at easily price line for a
8:10
Speaker 2: price point that I don't feel like, oh my god,
8:12
Speaker 2: I'm putting one hundred and ten dollars like foundation on
8:15
Speaker 2: my face. Do not get me wrong. I'm in the
8:16
Speaker 2: privileged position where I do own those things as well.
8:19
Speaker 2: But I'm a pretty reasonable person. Every single day. To me,
8:23
Speaker 2: that's ridiculous. You don't in my head, I do not
8:26
Speaker 2: need to wear Georgio Armani foundation every single day. My
8:29
Speaker 2: loreal true match has never done me dirty. Yeah you
8:32
Speaker 2: know what I mean, And I can get that on
8:34
Speaker 2: sale and the R money that doesn't go on sale.
8:36
Speaker 5: Yeah.
8:36
Speaker 2: Anyway, if you guys have a question that you want
8:38
Speaker 2: a real, honest, authentic answer from, leave it in the
8:41
Speaker 2: comments below or email us or slide into our DMS.
8:45
Speaker 2: Moving on, Miss jez Garucci Community money Wins.
8:48
Speaker 4: What have you got already? Firstly, Shona says, I have
8:50
Speaker 4: set my intentions and resolutions for twenty twenty six. My
8:54
Speaker 4: goal is to save at least ten thousand dollars and
8:56
Speaker 4: also set up some new bank accounts so I can
8:58
Speaker 4: keep track of my spendings and savor better. I already
9:01
Speaker 4: feel so relieved. Also, it's my birthday today, Happy birthday,
9:05
Speaker 4: so I will we taking advantage of all the free
9:07
Speaker 4: dies that I can get Boost Juice, churros and a
9:09
Speaker 4: free donut at Crispy Cream Good Adredable. Next, I've got
9:13
Speaker 4: one from Stacy who said she won two competitions in one.
9:16
Speaker 3: Week, which is a very nice little surprise.
9:18
Speaker 4: She said she normally never wins anything, and she walked
9:20
Speaker 4: away with a baby swaddle and also a free.
9:25
Speaker 3: Clean for her house and a free beauty treatment. Oh
9:27
Speaker 3: my love, I would love it.
9:29
Speaker 2: Free cream and a free treatment. You come on over,
9:32
Speaker 2: tell me I'm pretty and clean my house. Oh my god,
9:35
Speaker 2: marry that person.
9:37
Speaker 4: Next, I want money win from Logan, who said they
9:39
Speaker 4: recently had a doctor's appointment where the receptionist did not
9:42
Speaker 4: ask them to tap their card for a second time
9:44
Speaker 4: for the Medicare rebate. They checked their account and it
9:46
Speaker 4: had never went in, so they jumped on MyGov to
9:48
Speaker 4: make a Medicare claim and to their surprise, had a
9:51
Speaker 4: message for Medicare saying that they were owed money and
9:55
Speaker 4: that their bank details need to be updated. The bank
9:57
Speaker 4: details are really old. They checked the account today to
10:00
Speaker 4: find every rebate that had been missed out on for
10:03
Speaker 4: the past four years.
10:05
Speaker 3: Sorry what I was ready to be deposited? It was
10:07
Speaker 3: over five hundred dollars money win.
10:10
Speaker 4: Logan said, this is your sign to make sure you're
10:11
Speaker 4: checking your Medicare rebate goes in and if it doesn't,
10:13
Speaker 4: look into why because you maybe owed some money? So
10:16
Speaker 4: a little life I've been for everybody to do. I
10:18
Speaker 4: think tonight, yes, and then I've got a money win.
10:21
Speaker 4: From Eliza, who said she made a silly purchase online,
10:23
Speaker 4: tried to return it, but they ended up offering her
10:25
Speaker 4: a seventy percent refund to keep the product. So she
10:29
Speaker 4: said a money loss turned into kind of a money win,
10:32
Speaker 4: and lessoned learned about falling for Instagram ads. And then
10:36
Speaker 4: lastly this week, I have got a money win from
10:39
Speaker 4: dem who said I got an Airbnb that looked nothing
10:42
Speaker 4: like it was advertised. It's completely wrong as to what
10:44
Speaker 4: the description, et cetera was. I made sure I took
10:47
Speaker 4: real time photos, launched a request and got myself a
10:50
Speaker 4: little refund.
10:50
Speaker 2: That is so good, but also how disappointing.
10:53
Speaker 3: I know we're hearing lots of stories about that at
10:55
Speaker 3: the moment.
10:55
Speaker 2: It's actually crazy.
10:57
Speaker 3: Yeah, yes, especially those little tiny homes. Yeah, oh my god.
11:01
Speaker 3: So unyoke is pretty good. They're always that's always accurate.
11:04
Speaker 2: I love it. It's your time to shine. What broke
11:08
Speaker 2: tips are you bringing to the table this oy?
11:11
Speaker 4: Yeah.
11:11
Speaker 3: So, my work friend just the other day gave me
11:15
Speaker 3: this hack. She had an aceop deodorant, like a little spray.
11:18
Speaker 2: But those are so expensive, but also they smell so good.
11:21
Speaker 3: They are expensive. She was saying that it's cheaper than
11:24
Speaker 3: the perfume. It smells just as good. So we sprist
11:26
Speaker 3: it on ourselves and.
11:27
Speaker 2: I was like, oh my god, this actually does a trick.
11:29
Speaker 2: It is yodorant.
11:30
Speaker 3: It's very expensive for yodorant, but if you're buying it
11:32
Speaker 3: as a perfume, it really I think it's a lot
11:36
Speaker 3: cheaper and it smells amazing, you know what I mean?
11:40
Speaker 2: So your purpose product, Yes, exactly right now.
11:44
Speaker 3: I don't know how good it does as deodorant, but anyway,
11:47
Speaker 3: we'll see.
11:47
Speaker 2: Who cares. If you like the product, you're allowed to
11:49
Speaker 2: spend money on it. Absolutely, absolutely.
11:51
Speaker 3: So the sex one comes from Nadine, who says using
11:55
Speaker 3: dry mode when running the air con is a lot
11:57
Speaker 3: cheaper to run, and also it makes your homel bless humid,
12:01
Speaker 3: which yees. So it's so she sent me like an
12:06
Speaker 3: Instagram video and so I won't open it right now,
12:08
Speaker 3: but if you would like the link, I can give
12:09
Speaker 3: that to you. But it's the little tear drop or
12:12
Speaker 3: rain drop icon. When you go home, you'll see, I
12:16
Speaker 3: know them really going to go have a look.
12:18
Speaker 2: You go have a look.
12:19
Speaker 3: It could be that icon and sometimes it looks a
12:21
Speaker 3: bit different.
12:22
Speaker 4: Cheap.
12:23
Speaker 3: I'm not a wide cheaper, but apparently it is a
12:25
Speaker 3: lot cheaper.
12:26
Speaker 2: All right, I'm going to do my research by going
12:28
Speaker 2: home and looking around. I'll call you if I've got questions,
12:32
Speaker 2: because you've got the link.
12:33
Speaker 3: I have the link and then my one. So I
12:36
Speaker 3: kind of like don't want Messina to ever listen to this,
12:39
Speaker 3: But Messina ice cream hack. If you go to Messina
12:42
Speaker 3: and you get like a little small tub of.
12:44
Speaker 4: Ice cream, it's nineteen dollars and you take it home,
12:47
Speaker 4: you serve it up, blah blah blah. Instead what you
12:50
Speaker 4: ask for is a three scoop in a takeaway container.
12:54
Speaker 4: It comes in the same container, and it's filled the
12:57
Speaker 4: same amount. Is the exact same thing as going in
13:00
Speaker 4: and getting a small takeaway tub, and it's only ten dollars.
13:04
Speaker 3: Sorry, it's three screws of Masina only ten dollars. That
13:07
Speaker 3: feels like a good deal to me. It is ten dollars, Yes,
13:09
Speaker 3: it's dollars.
13:10
Speaker 2: The Messiner is actually across the road from Grilled, and
13:12
Speaker 2: we already agreed that after this recording we're going to
13:15
Speaker 2: Grilled to get lunch. So I just feel like we
13:18
Speaker 2: should test that immediately, should make a video about it.
13:21
Speaker 3: I am sure anyone who lives in Melbourne knows this guy.
13:23
Speaker 3: I don't know his name. I'm so sorry. I know
13:25
Speaker 3: exactly who you're talking. You know exactly what'stache he does. Oh,
13:28
Speaker 3: he's great and he's the one that I saw, Like
13:30
Speaker 3: I got that from put that link in the show
13:32
Speaker 3: notes so that people can totally. But the reason I'm
13:35
Speaker 3: saying this is because they may have cottoned on and
13:38
Speaker 3: stopped doing that.
13:38
Speaker 2: So getting quick, that's on them. That's on them, all right.
13:41
Speaker 2: Moving on, we're going to go to a really quick
13:43
Speaker 2: break and on the flip side, we're going to be
13:45
Speaker 2: helping to answer a money dilemma about whether a bridging
13:47
Speaker 2: loan is a good idea. Also explain what a bridging
13:50
Speaker 2: loan is. And we got a DM this week. You
13:53
Speaker 2: asked us what rules should we be putting in place
13:56
Speaker 2: when it comes to dating and money, So guys don't
13:59
Speaker 2: go anywhere.
14:04
Speaker 3: Welcome back, everybody. Let's take a listen to this week's
14:06
Speaker 3: money dilemma.
14:09
Speaker 2: Hi, there, have you got a money dilemma you just
14:12
Speaker 2: can't solve the She's on the Money team is here
14:14
Speaker 2: to help. Every week we tackle your dilemmas, both big
14:18
Speaker 2: and small, to answer your most burning money career and
14:20
Speaker 2: life questions. To get involved, simply head to our website
14:24
Speaker 2: and leave us a short voice recording, and you might
14:26
Speaker 2: just find yourself on the show. Now, let's take a
14:28
Speaker 2: listen to this week's money dilemma.
14:33
Speaker 6: High Sees on the Money. I'm really interested to learn
14:35
Speaker 6: more about bridging loans. I am thinking about upgrading my
14:39
Speaker 6: current home that I live in, but I'm nervous to
14:42
Speaker 6: sell it and then move into a rental and then
14:44
Speaker 6: potentially be without a house if I can't buy. So
14:47
Speaker 6: the prospect of buying a property first and then telling
14:50
Speaker 6: mine is very attractive, but I am a bit worried
14:53
Speaker 6: about the conside of bridging loans, such as if I
14:56
Speaker 6: can't sell my current property. Came for your perspective, Thank you.
15:00
Speaker 4: May I just say that perhaps we handle all this
15:02
Speaker 4: one straight over Tone her owns a mortgage breaking company.
15:06
Speaker 2: I think, so, oh wow, you guys think I might
15:08
Speaker 2: have a response that's so crazy. She explained it pretty well.
15:11
Speaker 2: So a bridging loan is exactly what you think it is.
15:13
Speaker 2: It is a short term home loan that you get
15:16
Speaker 2: that helps you purchase a brand new property before you've
15:19
Speaker 2: sold your existing one, and people use them when they
15:22
Speaker 2: want to secure their next home without having to rush
15:25
Speaker 2: the sale on their current property, especially in relatively competitive markets,
15:29
Speaker 2: because you don't want to like quickly have to sell, sell, sell,
15:32
Speaker 2: and take the first offer like we want to get
15:35
Speaker 2: the best offer. But essentially quote bridges the gap between
15:39
Speaker 2: buying and selling and gives you access to temporary funds
15:42
Speaker 2: so that you can move first and then sell later,
15:45
Speaker 2: which is also really nice because you could move all
15:47
Speaker 2: of your stuff out into your brand new home and
15:50
Speaker 2: then have an empty home to style and sell nicer
15:54
Speaker 2: or something like that, rather than feeling like you have
15:56
Speaker 2: to accept a lower price on your property. People are
15:59
Speaker 2: also going to use bridging loans if like so like
16:02
Speaker 2: Steve and I right, like, we weren't shopping for a
16:04
Speaker 2: brand new home, and thankfully we didn't use a bridging loan,
16:07
Speaker 2: so I won't say, oh, yes, this is exactly what happened.
16:10
Speaker 2: But we purchase down home that we currently live in
16:13
Speaker 2: before we even thought about selling our current home because
16:15
Speaker 2: we're like, oh my god, our dream home has literally
16:17
Speaker 2: just popped up. We don't want to miss this opportunity.
16:20
Speaker 2: Auctions in two weeks. Yeah, so we had to think
16:23
Speaker 2: about what finance would look like and if you don't
16:25
Speaker 2: have the finances to purchase that dream home, but you're like,
16:29
Speaker 2: I could if I sold my house. Though, you can
16:32
Speaker 2: get a loan that will bridge the gap, so they
16:35
Speaker 2: will pay for it during that period of time. The
16:38
Speaker 2: interest rate is higher, so you do have to take
16:40
Speaker 2: that into consideration, but usually you're very happy to pay
16:43
Speaker 2: that because you're like, great, I'll do that and then
16:45
Speaker 2: I can sort this out in due course instead of
16:47
Speaker 2: being forced to sell it, but also not forced to
16:49
Speaker 2: sell it. You cannot sell a house within two weeks, no,
16:53
Speaker 2: so there's often ways to do that. Some people just
16:56
Speaker 2: want to do it because they feel safer securing their
16:58
Speaker 2: new home before selling their own home, because they're like, well,
17:01
Speaker 2: I don't want to sell my current property and then
17:03
Speaker 2: like not find our dream home, Like what if I
17:05
Speaker 2: sell that and then I'm homeless? Yeah, like I don't
17:07
Speaker 2: want to be between houses. So there's lots of reasons
17:09
Speaker 2: people use them. I would talk to a mortgage broker,
17:12
Speaker 2: obviously one at Zella Money, but I would talk to
17:15
Speaker 2: a mortgage broker about how to utilize that, whether it
17:17
Speaker 2: works in your circumstances. I have lots of thoughts and opinions,
17:21
Speaker 2: because you know, if you've got a not so favorable
17:23
Speaker 2: apartment in a block that doesn't sell very well, and
17:26
Speaker 2: then you're going to use a bridging loan, can we
17:29
Speaker 2: guarantee that there will be a sale that happens? Like,
17:32
Speaker 2: you want to be pretty confident if you're taking on
17:34
Speaker 2: a bridging loan that the property that you currently own
17:37
Speaker 2: will sell.
17:37
Speaker 4: What happens in that circumstance, Like, let's say you take
17:39
Speaker 4: out the bridging loan and you don't sell your property, Yeah.
17:42
Speaker 2: Because there's lots of things that could happen, but essentially
17:46
Speaker 2: you will be stuck on that bridging loan with a
17:48
Speaker 2: bigger interest, right, which can be really scary. Yeah, And
17:51
Speaker 2: so I don't want to scare you away from it,
17:53
Speaker 2: but like talk to a broker because, like you know,
17:55
Speaker 2: in the Melbourne market, if you're in a city and
17:57
Speaker 2: you're selling like and when I say inner city, I
17:59
Speaker 2: mean the fifty kilometers around, very likely to sell. But
18:04
Speaker 2: then maybe if you're like super regional and that house
18:07
Speaker 2: is going to take twelve to eighteen months to sell,
18:09
Speaker 2: maybe that's not so favorable. But then also there's that
18:12
Speaker 2: added layer of risk as well. You can't just go,
18:15
Speaker 2: I will get a bridging loan, because the company offering
18:18
Speaker 2: the bridging loans are very likely to assess your properties. Sorry,
18:22
Speaker 2: what do you currently own because that's basically the equity
18:26
Speaker 2: and what are you buying, and then they'll make a
18:27
Speaker 2: decision as to whether they would even issue a bridging loan.
18:31
Speaker 2: So we have had circumstances before where people have wanted
18:34
Speaker 2: bridging loans come to us, we do everything within our
18:37
Speaker 2: might to help, and the banks go, we're not going
18:39
Speaker 2: to give you a bridging Yeah, that's not going to happen.
18:42
Speaker 2: And in that case, just so you know, there are
18:43
Speaker 2: backup options. There are people that we can go to
18:46
Speaker 2: who can give you short term loans for home deposits
18:48
Speaker 2: and stuff like that, so that then if you aren't
18:50
Speaker 2: serviceable for a bridging loan, we can use that.
18:52
Speaker 3: And then do you have to pay mortgage on booth?
18:56
Speaker 2: Yes, there is like a period of time, but this
18:58
Speaker 2: is the bridging loan that kind of bridges the gap,
19:00
Speaker 2: so the I'm completely financially screwed. I see, I see it.
19:03
Speaker 2: They're usually relatively lenient, but with that leniency comes a
19:06
Speaker 2: premium in your interest rate. Okay, you answer that, Yeah, nothing,
19:11
Speaker 2: nothing to add, No, just.
19:14
Speaker 3: Take me to his advice. Yeah, she's always like she's
19:16
Speaker 3: the expert.
19:17
Speaker 2: Look I pretend to be. I'm not a mortgage broker,
19:20
Speaker 2: which is kind of funny given I own a mortgage
19:22
Speaker 2: broking business. But I know enough. It's not that I
19:26
Speaker 2: know enough. I should just go do the bloody degree
19:28
Speaker 2: because at this point I feel like I know everything,
19:31
Speaker 2: not everything, but you know what I mean, Like, yeah,
19:34
Speaker 2: I could do the job, I'm just not a credited
19:36
Speaker 2: to do so. All right, here is the juicy DM
19:39
Speaker 2: that we got this week. Hey, she's on the money.
19:41
Speaker 2: I got out of a long term relationship and I
19:43
Speaker 2: am finally dating again. This time I'm more financially literate
19:47
Speaker 2: and conscious of money dynamics. A few things have happened
19:50
Speaker 2: on dates that have given me the ick, like keeping
19:53
Speaker 2: score of who paid, or going quiet when the bill
19:56
Speaker 2: comes to test me on if I'll pay, or make
19:59
Speaker 2: jokes about gold. One even said I'm too switched on
20:02
Speaker 2: about money.
20:03
Speaker 3: Oh what red flag?
20:05
Speaker 2: Friends keep telling me I'm being picky and that dating
20:08
Speaker 2: is already hard enough when it comes to money. I
20:11
Speaker 2: don't know what standards are reasonable at this stage. Rules
20:14
Speaker 2: I should have and red flags I should look out for.
20:17
Speaker 2: Am I being too picky? Or am I overthinking it?
20:20
Speaker 2: I'd love the community's opinion on all of this.
20:23
Speaker 3: M I was telling a friend the other day that
20:27
Speaker 3: sometimes if you like go on a date, this isn't
20:29
Speaker 3: very relevant to money, but I think that it will
20:32
Speaker 3: come back to this. But a friend, a male friend,
20:35
Speaker 3: said to someone, men don't date women who go home
20:38
Speaker 3: on the first date or something ridiculous like that, something
20:41
Speaker 3: really old school, something inherently extremely sexist.
20:44
Speaker 2: You're not taking advantage of me, but I'm taking advantage.
20:47
Speaker 3: Yes, exactly. And I said, well, you should keep doing that,
20:50
Speaker 3: then you should keep going home on the first date,
20:52
Speaker 3: because then you'll weed out those kind of guys that
20:54
Speaker 3: think like that, because they are disgusting. And so in
20:58
Speaker 3: this situation, I a if you already kind of know like,
21:02
Speaker 3: because I don't think it's just money. I think there
21:04
Speaker 3: is something inherently like something's as symptomatic, if something bigger.
21:07
Speaker 3: So if a guy is saying, are you a goldiger
21:10
Speaker 3: or are you gonna pay for this, it's like, okay,
21:12
Speaker 3: you hate women, sorry, but that's just black and white.
21:14
Speaker 3: You're just a misogynist. And I don't want to date you.
21:16
Speaker 3: So I think that it's really really good to still
21:18
Speaker 3: keep those values because a lot of the time it's
21:20
Speaker 3: not just like are you tight with your money or
21:22
Speaker 3: are you not tight with your money? It is way
21:23
Speaker 3: bigger than that. It is something that is because I'm assuming,
21:26
Speaker 3: and I shouldn't assume. But this is quite like a
21:30
Speaker 3: maybe like het norm hetero kind of dynamic. Maybe the
21:34
Speaker 3: listener is woman.
21:35
Speaker 2: Yeah, you're being in a completely dating like different dating
21:37
Speaker 2: space totally totally. I was about to be like, oh, yeah, yeah, yeah,
21:40
Speaker 2: and then I was like, you wouldn't go on a
21:42
Speaker 2: date with a misogynistic man and they wouldn't even come
21:44
Speaker 2: near you, like you wouldn't let them.
21:47
Speaker 3: No, certainly not, but yes, I so like, listening on,
21:52
Speaker 3: I'm thinking that's maybe the situation. So I would say, yeah,
21:55
Speaker 3: keep doing what you're doing because I know that you know,
21:58
Speaker 3: and you're not even probably conscious of it, that these
22:00
Speaker 3: little things they're saying in the way they're acting around
22:03
Speaker 3: money is not just about money. You're not just like, oh,
22:06
Speaker 3: I don't want a man that's broke, because that's not
22:08
Speaker 3: at all what it is. As a more masculine woman
22:11
Speaker 3: in this dynamic with a feminine woman. I can understand
22:15
Speaker 3: the pressures of that of feeling like I have to
22:17
Speaker 3: pay for everything, So I get it. But I don't
22:20
Speaker 3: think that's what you're saying. I think you're weeding out
22:22
Speaker 3: people that don't respect women, and don't respect powerful women,
22:26
Speaker 3: and don't like when women are independent and have their
22:29
Speaker 3: own money and have this confidence. So keep doing what
22:32
Speaker 3: you're doing. I trust your process. Basically, Yes, I feel like.
22:36
Speaker 4: We may have interpreted this differently because I completely agree
22:39
Speaker 4: with you on the gold Dealer comment. Unacceptable like unacceptable,
22:43
Speaker 4: get the bin, never getting another day. I interpreted this
22:46
Speaker 4: as our listener is not liking that people they're potentially
22:51
Speaker 4: dating at keeping track of who's paid what, and so
22:53
Speaker 4: like I'm imagining in my head like maybe the guy
22:56
Speaker 4: paid for the first day and he's expecting her to
22:58
Speaker 4: pay for the second date, you know, some kind of
23:00
Speaker 4: back and forth like that, to which, like I say,
23:03
Speaker 4: you are allowed to have your preferences, and you are allowed,
23:06
Speaker 4: you know, if you want to date somebody who does
23:09
Speaker 4: take on a more traditional financial ques, you're allowed. You're correct,
23:14
Speaker 4: But I also don't think it is fair to apply
23:16
Speaker 4: that as a standard, because if I'm honest. My personal
23:20
Speaker 4: broad take on finances in relationships is to keep things
23:26
Speaker 4: as equitable as possible and to keep things on some
23:29
Speaker 4: level as separate as possible for as long as possible.
23:32
Speaker 4: I think, Like, to me, I've been with my partner
23:35
Speaker 4: for nearly a decade and we still don't share our
23:39
Speaker 4: finances completely. It doesn't really make sense for us to,
23:41
Speaker 4: like we split our rent, we split our bills, we
23:44
Speaker 4: split out, we don't split our dates. But you're like
23:46
Speaker 4: someone will pay for dinner. It kind of comes out
23:48
Speaker 4: in the wash when you're together. But I mean, it's
23:49
Speaker 4: also very different when you're in a long term relationship
23:51
Speaker 4: where versus when you're like dating independently. But I think
23:55
Speaker 4: that to me, it's very much just about what is
23:59
Speaker 4: comfortable to you, but also acknowledging, like if there are
24:02
Speaker 4: other people who go, well, if I pay for the
24:04
Speaker 4: first date, I would prefer for you to pay for
24:06
Speaker 4: the second date because that is what my preference is.
24:10
Speaker 3: That's what I feel is fair.
24:11
Speaker 4: That is also okay, Like there's no right and wrong there.
24:14
Speaker 4: You're allowed to have your preference or whatever gives you
24:16
Speaker 4: the ick. That's fine, But I don't necessarily think there's
24:19
Speaker 4: a standardized rule, because everybody has their own relationship and
24:22
Speaker 4: thoughts and feelings with money, and so for somebody, you
24:25
Speaker 4: might go, oh, well, I don't know if I'm gonna
24:26
Speaker 4: date you for a long time, Like we're figuring that out.
24:29
Speaker 3: That's what dating is.
24:30
Speaker 4: So if I pay for the first four dates and
24:32
Speaker 4: then we never go out again, I can understand how
24:35
Speaker 4: like on a male or a more masculine person, or
24:37
Speaker 4: the person taking on that traditional role that is like
24:41
Speaker 4: financially quite hard sometimes and like I can understand not
24:44
Speaker 4: wanting to have that, So you know what I mean,
24:46
Speaker 4: it's you can have your preferences and that's fine. But
24:48
Speaker 4: I guess what I'm struggling to say is like it's
24:50
Speaker 4: hard to apply a hard and fast rule.
24:52
Speaker 2: I think, yeah, yeah, I think I would approach it.
24:55
Speaker 2: And going back, my dating experience was when I was debt.
25:00
Speaker 2: I was in personal debt and then guess what, I
25:03
Speaker 2: met another person, Steven, fell in love with him. He
25:07
Speaker 2: was also in personal debt, so we were both really
25:09
Speaker 2: bad man together. But I always really liked irrespective of
25:13
Speaker 2: what financial position I was in. I never liked a
25:16
Speaker 2: man having an upper hand on me. I agree, and
25:19
Speaker 2: like this is not personal advice. This is just how
25:21
Speaker 2: I approached it. I never liked and still don't like
25:25
Speaker 2: feeling like I owe someone something. So like, if you
25:29
Speaker 2: and I go out for dinner, I get a little
25:30
Speaker 2: bit uncomfortable if you want to pay for the whole bill, Like,
25:33
Speaker 2: I really don't like that. In fact, I would say
25:35
Speaker 2: I'm the first person to pay for it in its entirety,
25:38
Speaker 2: because I'm like, no, that makes me feel comfortable. And
25:41
Speaker 2: I mean, nowadays, I do that because I know I'm
25:43
Speaker 2: in the financial position to do that, and that's really good.
25:46
Speaker 2: But when I was dating, I just didn't want somebody
25:49
Speaker 2: to have an upper hand on me. And I'm not
25:51
Speaker 2: saying that that was a good thing because I would
25:52
Speaker 2: have been in less debt had I let all of
25:54
Speaker 2: the men that I dated pay for all of the dates. Yeah,
25:57
Speaker 2: if you want to work that, I go, like, but
26:01
Speaker 2: I just think you're not being too picky, you are
26:04
Speaker 2: having boundaries. But comments about being a gold digger, like
26:07
Speaker 2: it's showing that they're uncomfortable with money and they lack
26:11
Speaker 2: a fair bit of respect. So like, to me, that's
26:13
Speaker 2: a massive red flag. I agree, But when the bill
26:16
Speaker 2: comes out, I think being direct is really nice, Like
26:19
Speaker 2: we're not being unkind, but saying something like oh, hey,
26:22
Speaker 2: I'm really happy to take turns like on this, like
26:25
Speaker 2: if you know that you're dating someone for more than
26:26
Speaker 2: one date, or just suggesting split it. Yeah, just suggesting
26:31
Speaker 2: that splitting it, Like I'll go, oh, beck, like we
26:33
Speaker 2: can totally split this. Let's have a look opens a
26:36
Speaker 2: conversation about money, which I think is a really good
26:38
Speaker 2: temperature check on that other person as well, because like
26:42
Speaker 2: it's very reasonable to split the bill. Yeah, so what
26:45
Speaker 2: are they going to say, No, Jess, you should pay
26:47
Speaker 2: for the whole thing on your own. That's not where
26:49
Speaker 2: that conversation is going to go. They might go, just
26:52
Speaker 2: don't worry about it, I'll get it this time, and
26:54
Speaker 2: you go, okay, thank you so much. And like I
26:56
Speaker 2: do feel like we shouldn't get in fights in these
26:59
Speaker 2: situations like no, no, no, no, we'll split I'll do it,
27:02
Speaker 2: like just graciously accept great, like, thank you so much.
27:05
Speaker 2: That's very kind of thing I'll get I'll get next.
27:09
Speaker 2: But I think that starting the conversation with splitting it
27:11
Speaker 2: gives them the opportunity if they want to be a
27:14
Speaker 2: bit more traditional or you're feeling like they want to
27:16
Speaker 2: be a bit more traditional, but like the silence when
27:19
Speaker 2: Bill comes.
27:20
Speaker 3: Is awkward, cringing, just thinking about uncomfortable.
27:25
Speaker 2: Just be ahead of the game. Just go hey, I'm
27:26
Speaker 2: really happy to split it, or I can get it
27:28
Speaker 2: this time and you can get next time if you
27:30
Speaker 2: think there's going to be a next time. But I
27:31
Speaker 2: would always just default to, hey, I'm really happy to
27:34
Speaker 2: split it. How would you like to split it? Yeah,
27:36
Speaker 2: because it might be different, Like there's just so many
27:38
Speaker 2: semantics here, right, because like I don't know, did you
27:40
Speaker 2: drink a whole bottle of wine Jess and I had none?
27:42
Speaker 2: And like what does that look like? Totally so we're reasonable,
27:47
Speaker 2: I think just operating on it, Hey, let's split it
27:50
Speaker 2: and then we split it fifty to fifty, even if
27:51
Speaker 2: it's not a perfect out the wash situation, but if
27:54
Speaker 2: it's actually completely unequitable, then maybe we go, oh, let's
27:58
Speaker 2: just split it up and pay for our parts.
28:00
Speaker 4: Yeah, And if you are expecting someone to pay for
28:02
Speaker 4: you in that more traditional sense, I would almost try
28:05
Speaker 4: to find a way to like flirtatiously maybe like preempt
28:09
Speaker 4: that when you're chatting about like all night, like where
28:11
Speaker 4: are you going to take me?
28:12
Speaker 3: To dinner or like some way to kind of like
28:14
Speaker 3: prem late that.
28:15
Speaker 2: Expectation to be taken out on a date, not you
28:18
Speaker 2: are going on a date to get that.
28:20
Speaker 4: Yeah, because I just think like in this day and age,
28:22
Speaker 4: like I think it's super reasonable to expect to split
28:24
Speaker 4: the bill. Like I would not be chocked at all
28:27
Speaker 4: if someone expected that of me. And so if that's
28:28
Speaker 4: not the expectation that you want to set, I feel
28:31
Speaker 4: like the fair thing to do is like give them
28:33
Speaker 4: a heads up, you know.
28:34
Speaker 2: We asked the community as well. So first thing I
28:36
Speaker 2: asked was what would you do if you our community member.
28:39
Speaker 2: Sixty nine percent of you said, I'd just trust my gut,
28:41
Speaker 2: which I think is the best thing to do. Twenty
28:43
Speaker 2: four percent of you said I'd be honest about your
28:45
Speaker 2: money values upfront, six percent said wait until it's serious
28:49
Speaker 2: to worry about it, and then one percent said I'd
28:51
Speaker 2: try not to be too picky. We then said who
28:53
Speaker 2: do you think should pay when it comes to early dating?
28:56
Speaker 2: Thirty one percent of you said fifty to fifty twenty
29:00
Speaker 2: six percent and I didn't think of this the person
29:04
Speaker 2: who asks for the date. I do quite like that, yep.
29:08
Speaker 2: Twenty six percent again said take turns, and seventeen percent
29:11
Speaker 2: said pay for what you ordered, which I think is
29:14
Speaker 2: absolutely fine, but like I hadn't really thought about though, well,
29:17
Speaker 2: if I go, hey, Jess, do you want to go
29:19
Speaker 2: out for dinner with me? Then that's on me.
29:21
Speaker 4: Yeah, yeah, And they're like, I'd love to take you
29:24
Speaker 4: to dinner, Like it's I mean, I love you confident,
29:26
Speaker 4: you know, But to me that kind of sets that tone.
29:30
Speaker 2: Yeah, oh you agree. And I think that's where everyone's
29:32
Speaker 2: just going to be different about their like dating preferences,
29:34
Speaker 2: and you're allowed to have dating preference. So we then
29:38
Speaker 2: asked the community for their two cents. First one said
29:40
Speaker 2: dating's hard, but so is a relationship where you're not
29:43
Speaker 2: on the same page. Save yourself the heartbreak and the time.
29:46
Speaker 2: The next person said, the right person won't make you
29:48
Speaker 2: feel bad or uncomfortable about your thoughts and beliefs around money.
29:52
Speaker 2: Another person said fifty to fifty if you're unsure if
29:54
Speaker 2: you're going to go on a second date, take turns.
29:57
Speaker 2: If so and one pace for dinner, and maybe you
30:00
Speaker 2: go somewhere else and you pay for dessert. Another person
30:02
Speaker 2: says it's better to be on your own than with
30:06
Speaker 2: a gross man child. Oh so true. Amen. Next person said,
30:11
Speaker 2: rules about who pays vary by situations and also culturally,
30:16
Speaker 2: so maybe ask about it.
30:17
Speaker 3: Yeah, that's a great get.
30:19
Speaker 2: Another person said, in my honest opinion, going fifty to
30:21
Speaker 2: fifty sets you up for an equal partnership later. And
30:24
Speaker 2: the last one I'm going to share is the person
30:26
Speaker 2: you end up with ultimately decides your financial freedom or
30:29
Speaker 2: your financial stress. Wow, I'll just leave it there anyway,
30:37
Speaker 2: it has been a very good show. Thanks for hanging
30:40
Speaker 2: out with me. Now, guess what we're going to go do,
30:42
Speaker 2: get grilled, and then probably messina. Let's do it. Have
30:47
Speaker 2: a good weekend, guys, and we'll see you right early
30:49
Speaker 2: on Monday morning for a money Darry, Bye bye bye.
31:02
Speaker 5: Do you buy shared on She's on the Money is
31:05
Speaker 5: general in nature and does not consider your individual circumstances.
31:08
Speaker 5: She's on the Money exists purely for educational purposes and
31:12
Speaker 5: should not be relied upon to make an investment or
31:14
Speaker 5: financial decision.
31:16
Speaker 2: If you do choose to buy a financial product.
31:18
Speaker 5: Read the PDS TMD and obtain appropriate financial.
31:21
Speaker 2: Advice tailored towards your needs.
31:23
Speaker 5: Victoria Divine and She's on the Money are authorized representatives
31:27
Speaker 5: of Money Sheper pty Ltd a BN three two one
31:31
Speaker 5: six four nine two seven seven zero eight AFSL four
31:35
Speaker 5: five one two eight nine