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Speaker 1: This podcast is recorded on gadigal Land Always was, always

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Speaker 1: will be Aboriginal Land. Hey Chicks, I'm now and I'm

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Speaker 1: sal and this is two broat Chicks, the show that

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Speaker 1: shares life lessons and tips to help make you rich

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Speaker 1: in life. And today's episode is all about your mid

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Speaker 1: year reset and how you can make your regular spending

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Speaker 1: turne into something remarkable, which is such a huge part

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Speaker 1: of creating that rich girl erar life that we're talking

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Speaker 1: about today, because the rich girl era is more about

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Speaker 1: getting more from life and a midyear reset is the

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Speaker 1: perfect time to do just that. But before we get

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Speaker 1: into the episode, sour, what is your obsession of the week.

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Speaker 2: My obsession of the week is a book I read

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Speaker 2: and it's called The Burrow.

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Speaker 1: Oh oh yes, yeah.

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Speaker 2: So it's by an Australian author and it's actually been

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Speaker 2: nominated for a bunch of awards. And it's a pretty

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Speaker 2: short read, I would say, a relatively easy read, and

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Speaker 2: a quick synopsis is that it's about a family based

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Speaker 2: in Melbourne and it's two parents and then they've got

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Speaker 2: a young daughter and then they had a baby who

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Speaker 2: recently passed away, and it's sort of about their family

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Speaker 2: and how they moved through the grief and they buy

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Speaker 2: per a pet bunny, and so I don't want to

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Speaker 2: give too much away, but it's really really beautiful and

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Speaker 2: it's sad and heartwarming and I definitely recommend reading it.

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Speaker 3: What's your obsession?

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Speaker 1: My obsession of the week is a post I saw

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Speaker 1: on Female invest and it was that women's unpaid labor

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Speaker 1: is valued at ten point eight trillion annually, So if

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Speaker 1: it was a country, it would be the world's third

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Speaker 1: largest economy, so larger than Japan, the UK, and France combined.

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Speaker 1: So if anyone is still yaping that there is an

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Speaker 1: a gender pay gap, for free to whip that out, Yeah,

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Speaker 1: because I do think we are talking about the unpaid

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Speaker 1: labor of women a lot more, and I think it's

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Speaker 1: great that we're having this conversation, but it's still very

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Speaker 1: much present, Like it's still very much a thing that

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Speaker 1: needs to be at the forefront of our money conversations,

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Speaker 1: whether you're in a relationship, whether you're a mother, whether

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Speaker 1: like however that looks, it needs to kind of also

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Speaker 1: be something that's factored in. And it's something that I

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Speaker 1: very actively talk about with my partner about like just

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Speaker 1: that there is admin, and that is something that needs

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Speaker 1: to be split because and he's great, like bare Mini

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Speaker 1: mem as well, like, yeah, it shouldn't be like he's

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Speaker 1: so good he does some of the admin. I'm like no, no, no,

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Speaker 1: I'm like having the conversation is being like, you might

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Speaker 1: not realize this task is here because this is the

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Speaker 1: task that I'm doing, but I'm also doing all these

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Speaker 1: tasks and I need you to pick up some of it.

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Speaker 2: And it's annoying as well that sometimes people can go

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Speaker 2: through life and they don't even realize that that's happening

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Speaker 2: because they're in a privileged position that somebody has already

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Speaker 2: always done it for that. But yeah, I do think

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Speaker 2: that that is the reality of the world that we

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Speaker 2: live in. And it's great that we acknowledge that there

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Speaker 2: is this inequality in unpaid labor, but yeah, we actually

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Speaker 2: need to do something about it.

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Speaker 4: And it's annoying that a lot of the time it

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Speaker 4: falls on us to have to.

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Speaker 1: Educate people as well.

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Speaker 2: I'm acknowledging that as well is unfair, But I think, yeah, definitely.

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Speaker 4: Have those conversations with the people in your life.

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Speaker 1: It ties into the statistic of why more women are

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Speaker 1: being choosing to be single, and that there's so many

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Speaker 1: statistics that single women in their forties and fifties are

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Speaker 1: actually happier than married women, and it's because they aren't

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Speaker 1: having to do all this unpaid labor of life.

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Speaker 2: Yeah, taking care of somebody's grown our son exactly.

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Speaker 1: On that note, let's talk about how to enter your

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Speaker 1: rich girl era.

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Speaker 4: Our first st app are spending aesthetic audit.

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Speaker 1: Anything with the word aesthetic in it.

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Speaker 2: I'm like, tell me, yeah exactly, because we've spoken about

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Speaker 2: this on the show before.

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Speaker 1: But how when.

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Speaker 2: You look at your expenses, they should be reflecting your

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Speaker 2: values and where you want to be in life. So

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Speaker 2: say you're telling yourself, I have a value of saving

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Speaker 2: money for a house or like in the future, I

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Speaker 2: want to buy my first apartment.

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Speaker 4: But then when you look at.

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Speaker 2: Your expenses and it's like, okay, you say that that's

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Speaker 2: your value when really your values are online shopping and getting.

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Speaker 1: Takeaway or cockie tails with the girls.

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Speaker 3: Yeah exactly.

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Speaker 2: So I think it's really good to take this time

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Speaker 2: in the midyear reset to reassess what are my values,

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Speaker 2: where do I want to be and is this actually

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Speaker 2: being reflected in how I'm spending my money, and does

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Speaker 2: it match your Pinterest board values?

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Speaker 1: Like if you could think of how you spent your money,

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Speaker 1: would automatically be created as a Pinterest board, like mentally

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Speaker 1: as that practice, would you like what was on your

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Speaker 1: Pinterest board?

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Speaker 3: Yeah?

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Speaker 1: And I think that's the thing that would kick me

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Speaker 1: up the ass, Yeah, because like you put on your

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Speaker 1: Pinterest board for example, Like, let's say the most common

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Speaker 1: things people put on their Pinterest boards. Right, it's a house,

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Speaker 1: it's a new car. Maybe it's traveling, it's eating good food,

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Speaker 1: it's spending a lot of time. It's maybe working out

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Speaker 1: or moving your body, spending time with friends.

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Speaker 4: Right.

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Speaker 1: But when we then look at what we're spending, if

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Speaker 1: you were to then export that as a Pinterest board,

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Speaker 1: would it match? And I think sometimes that is the

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Speaker 1: thing that you're like, oh shah.

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Speaker 2: Yeah, it's the visual reminder, yeah, of where your money

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Speaker 2: is actually going.

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Speaker 1: That's why things like a money diary are really helpful

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Speaker 1: because it takes an active approach to understanding where you're

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Speaker 1: spending your money. Yeah, and I did this when I

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Speaker 1: sometimes go through like bad money habits stages. Yeah, Like

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Speaker 1: I go through stages where I'm good with my money

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Speaker 1: and like I'm very active, and then I go through stages.

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Speaker 1: I think it's when I get stressed with work or

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Speaker 1: blah blah blah, and I'm like, oh, do you know what,

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Speaker 1: I'll just get I'll just get takeaway. I'll just do this,

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Speaker 1: I'll just do that. And I did it as a

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Speaker 1: practice when I felt like I was spending a lot

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Speaker 1: of money on takeaway because I just was really, really exhausted.

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Speaker 1: So I just couldn't be bothered to like meal prep,

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Speaker 1: meal prep, think about what to cook, the idea of

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Speaker 1: cooking dinner. After a day, I was like, Yeah, it

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Speaker 1: got to the point that I was like, I'm spending

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Speaker 1: way too much money on takeaway food. And so every

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Speaker 1: time I went to order takeaway on my phone, I

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Speaker 1: had to write it down, and the amount of time

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Speaker 1: also just how fucking expensive it is now. It's crazy.

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Speaker 1: It's like seventy dollars for like two meals, yeah, and

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Speaker 1: thirty thirty five dollars for one person. Right that I

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Speaker 1: would be like that's a lot of money, Like every

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Speaker 1: time I write it down, and then when you look

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Speaker 1: back at the week and you add it all up,

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Speaker 1: you're like, that's where my money's going. Yeah, you're like,

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Speaker 1: oh my gosh, because how often do we really like

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Speaker 1: this is a practice we should be doing, But how

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Speaker 1: often do we really go back over the week and

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Speaker 1: be like, Okay, that's exactly how much I spent on

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Speaker 1: takeaway this week And you're like, you know.

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Speaker 2: Yeah, exactly. So that is a key part of this

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Speaker 2: aesthetic order.

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Speaker 1: Even look back at the last.

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Speaker 2: Thirty days of your expenses and write it down and

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Speaker 2: see if it does reflect that Pinterest board that you

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Speaker 2: have in your mind of where you want your life

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Speaker 2: to be. And then from there you can identify which

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Speaker 2: habits you maybe want to replace or improve on.

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Speaker 3: For the second half of the year.

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Speaker 2: So to simplify, let's focus on one habit every month

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Speaker 2: for the rest of the year to audit.

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Speaker 3: And improve on.

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Speaker 2: So, for example, you could choose takeaway food or your

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Speaker 2: one hundred dollars spent on manicures or impulse shopping and

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Speaker 2: tackle one thing at a time, because if you're trying

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Speaker 2: to do everything.

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Speaker 1: You'll be motivated for that one week and hard.

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Speaker 2: Yeah, this audit can also include making a conscious decision

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Speaker 2: about where your money is going and how it aligns

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Speaker 2: to your values in other ways, So for example, you

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Speaker 2: could switch to an ethical superfund, or every time you're

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Speaker 2: replacing your beauty products, shop with cruelty free brands and be.

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Speaker 3: More mindful in that way.

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Speaker 2: I think that this aesthetic audit can look a few

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Speaker 2: different ways depending on how you want to improve your

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Speaker 2: spending choices.

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Speaker 3: But the midyear is the perfect.

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Speaker 2: Time to reflect on that and chart the course for

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Speaker 2: the rest of the year.

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Speaker 1: I think it's good as well because you can kind

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Speaker 1: of look back because at the start of the day

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Speaker 1: we're all like, yeah, fucker a millionaire. By the end

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Speaker 1: of it, totally, you can kind of look and see

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Speaker 1: where you started falling off and why and what it was,

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Speaker 1: and be like, Okay, so obviously I was able to

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Speaker 1: last one month with my financial goals. What happened there

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Speaker 1: that like caused me to taper off? Was it, you know,

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Speaker 1: getting back into work and not having enough time to

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Speaker 1: cook meals? Maybe I need a meal prep on a

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Speaker 1: Sunday or like whatever. I love how we're using food

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Speaker 1: as like the one example, because that's what we always

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Speaker 1: spend too much money on. But yeah, and I think

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Speaker 1: as well, like I love small incremental tasks. I think

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Speaker 1: consistency for me, I struggle with a lot, because I

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Speaker 1: like things to be fun and fresh and new new project.

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Speaker 1: Yeah yeah, I love a new project. Like the dopamine

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Speaker 1: heat of a new project is like crack to me. Yeah,

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Speaker 1: it's so good. And that that's why if picking one

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Speaker 1: thing for the entire year maybe doesn't align to you,

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Speaker 1: our second tip would be to schedule soft launch goals

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Speaker 1: so we don't need to hard launch a near relationship

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Speaker 1: with our finances. That's fine because it will probably break

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Speaker 1: up three months later, but we can soft launch, so

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Speaker 1: rather than waiting for January your mid year, think of

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Speaker 1: it as like your new money era, and July could

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Speaker 1: be I like this because it's like little projects. It's

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Speaker 1: little challenges. Like think of it as like your thirty

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Speaker 1: day money challenges every single month. So for example, July

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Speaker 1: could be a no by month, August could be sell

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Speaker 1: five things on Deepop, September could be plan my side hustle.

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Speaker 1: Like it's little things, and when you kind of put

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Speaker 1: it down to thirty days, it makes it a lot

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Speaker 1: easier and a little bit more fun, and you could

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Speaker 1: always repeat things. If you're like I really like selling

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Speaker 1: things on deepop this month, next month, you could do

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Speaker 1: sell tendings. Yeah. You know. My thing with deepop is

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Speaker 1: sometimes I sell things and then I buy things with

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Speaker 1: the things that with the money that I thought girl math.

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Speaker 3: I think a lot of people do that.

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Speaker 1: It's okay because I'm making no Alex Alex. Yeah, I'm

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Speaker 1: like this episodes are for ourselves as well. They're like

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Speaker 1: little diary entry.

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Speaker 2: There really are listening back and I'm like, damn it,

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Speaker 2: and like that's good advice.

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Speaker 1: You should listen to her. Oh, it's me.

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Speaker 2: It is.

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Speaker 1: When you're mapping.

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Speaker 4: Out these soft launch goals.

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Speaker 2: Factor in big spend months, because especially Christmas is always

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Speaker 2: a big spend sort of month, like that November December

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Speaker 2: so soon going to be here so quick, Or if

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Speaker 2: you know that you're going to be moving into a

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Speaker 2: new apartment or you're traveling in July and August, account

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Speaker 2: for those things as well. So maybe not be like

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Speaker 2: I'm going to do a no spend month in August

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Speaker 2: when you know that you're doing a eurosummer then you know,

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Speaker 2: or I'm going to do a no spend month in

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Speaker 2: November when that could be a time that you could be.

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Speaker 1: Yeah, you're got to account for the context.

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Speaker 2: Yeah, exactly, because if you don't do that, then you

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Speaker 2: kind of set yourself up for failure, whereas you know,

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Speaker 2: like work with your schedule and the things that you

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Speaker 2: know that will work for you.

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Speaker 3: I think that's a big part of it.

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Speaker 1: Yeah, I love that what it kind of falls into

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Speaker 1: as well, it's just giving you an eagle eye view

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Speaker 1: of your finances because I know budget is a word

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Speaker 1: that we all kind of hate. I don't know if

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Speaker 1: I'm speaking for everyone here, but like the word budget

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Speaker 1: is not sexy. But there's a famous quote that says

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Speaker 1: having a budget is telling your money where to go

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Speaker 1: instead of wondering where it went. And I was like, ow,

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Speaker 1: that hurt my feelings, but it is so true. And

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Speaker 1: it's like what we were saying before about that practice

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Speaker 1: of even just writing down what you're spending as you

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Speaker 1: spend it, even if you're writing it down in your notes.

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Speaker 1: Every time you order takeaway food, write it down every

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Speaker 1: time you order a coffee, like every time you spend money,

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Speaker 1: write it down in your notes. And having that active

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Speaker 1: perception will make you realize, oh, actually I don't want

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Speaker 1: to spend that. Yeah, because you're going to look at

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Speaker 1: this list in your notes app of money and be

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Speaker 1: like fuck, that's like two hundred dollars that I've just

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Speaker 1: spent in four days and on what and on what? Yeah,

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Speaker 1: and a mediocre burrito that was spilled over my entire bag.

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Speaker 1: Or they forgot my sweetens oursauce and they've ruined it

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Speaker 1: and they didn't put a straw in it. Yeah, Now

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Speaker 1: go sip it from the cut, which isn't as good

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Speaker 1: because the ice always gets in.

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Speaker 2: The way, you know, true, and then a half of

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Speaker 2: it dribbles down my chin. It's a whole thing thing.

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Speaker 1: It's a hot thing. A budget is all about, and

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Speaker 1: that's what a budget it's all about. But I have

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Speaker 1: a little hack. We love to get your budget sorted

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Speaker 1: for free. So it's a chat GPT prompt to enter

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Speaker 1: your rich girl era. So tell chat GPT you are

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Speaker 1: a money expert trying to give me advice on how

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Speaker 1: I should spend, save, and invest on my monthly paycheck.

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Speaker 1: Look at my spending history, and give me a budget

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Speaker 1: on how I should spend, save and invest each month

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Speaker 1: that won't feel too different to how I'm currently living.

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Speaker 1: So that way, it's kind of like with budgets, we

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Speaker 1: get really excited and we go like hell for leather

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Speaker 1: and we're like, I'm going to save a billion dollars,

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Speaker 1: I'm going to spend nothing, and I'm going to stick

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Speaker 1: to this miraculously. Yeah, I'm going to and have this

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Speaker 1: habit after doing nothing to achieve it. Yeah, but it's

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Speaker 1: way better to start small. And then secondly, you can

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Speaker 1: ask it to identify negative spending habits and the soft

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Speaker 1: goals you can achieve each month to reach an end

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Speaker 1: goal by the end of the year. So I like

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Speaker 1: this approach because it's about gradually building up to a

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Speaker 1: more financially savvy persona and spending habits, rather than just

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Speaker 1: thinking you're magically going to wake up and be like, oh, look,

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Speaker 1: I'm good with my money. Yeah, is that a all happened?

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Speaker 1: Speaking from experience.

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Speaker 2: Yeah, I really like that as well, because with budgets

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Speaker 2: or managing your finances, there is a lot.

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Speaker 3: Of anxiety about even looking.

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Speaker 2: That's why there's that whole joke and meme about like

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Speaker 2: people who don't even look at their bank statements. Ever,

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Speaker 2: it's a real thing that anxiety is a real thing,

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Speaker 2: and by doing this with something like chat GPT, it

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Speaker 2: kind of like takes it out of your hands. Something

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Speaker 2: else is doing it, but then you still get an

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Speaker 2: overview and of what you need to do. So if

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Speaker 2: the hardest part is the first step, I think this

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Speaker 2: is a really good hack to actually get that started

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Speaker 2: without having that anxiety or even like looking through the

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Speaker 2: bank statements yourself.

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Speaker 3: That makes sense.

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Speaker 1: Yeah, yeah, agreed. Okay, moving on, Hot Chick tax tips,

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Speaker 1: tell me sow.

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Speaker 2: Hot chick tax tips. Hot chicks do their taxes, Hot

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Speaker 2: cheeks do their ticks.

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Speaker 1: The ticks is.

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Speaker 2: Of course, we have to start by saying none of

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Speaker 2: this is financial advice or tax advice.

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Speaker 3: Where not accountants or financial advisors.

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Speaker 2: Also, when it comes to tax time, everything is so individual,

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Speaker 2: which is why it's so important to do your own research.

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Speaker 3: And that leads me on to my first tip, which

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Speaker 3: is get an accountant.

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Speaker 1: Yeah.

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Speaker 2: This obviously depends on your budget and your tax needs

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Speaker 2: and whether or not you feel like you're capable of

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Speaker 2: doing it yourself. But in our experience, we have found

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Speaker 2: that outsourcing this to an accountant has been invaluable, literally

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Speaker 2: because we know that this is not our area of expertise.

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Speaker 1: But it's confusing.

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Speaker 2: It's so confusing, it's really confusing, it's really scary, and

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Speaker 2: you want to make sure that you're doing the right thing,

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Speaker 2: but also maximizing the deductions that you can claim to

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Speaker 2: hopefully get.

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Speaker 3: As much money back as you possibly can.

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Speaker 2: And in an article that was published by H and R. Block,

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Speaker 2: people who did their own tax received a refund of

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Speaker 2: two thousand, five hundred and seventy six dollars on average

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Speaker 2: in twenty twenty two, while people who used a tax

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Speaker 2: agent received an average of three thousand, five hundred.

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Speaker 1: And fifty dollars. Wow.

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Speaker 2: Yeah, and there's so many things that you probably wouldn't

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Speaker 2: even realize that you could be claiming that, otherwise you'd

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Speaker 2: just be like, I don't know. And also they can

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Speaker 2: tell you what to do for the next year, like

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Speaker 2: do you spend money on this? Well next year, make

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Speaker 2: sure you save your receipts for that. And according to

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Speaker 2: a guide published by Aditects Accounting Sydney, the cost of

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Speaker 2: an accountant in Sydney for an individual tax return ranges

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Speaker 2: between two hundred and fifty to five hundred dollars. So

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Speaker 2: using this example, even if you paid five hundred dollars,

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Speaker 2: you would still get nine hundred and seventy four dollars

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Speaker 2: more using a tax agent than you would have if

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Speaker 2: you did it on your own, So of course there

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Speaker 2: is an upfront cost if you use an accountant, but

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Speaker 2: I do think that a lot of the time you

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Speaker 2: get your money back with a larger deduction and also

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Speaker 2: knowing things that are being done properly.

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Speaker 1: When I was twenty and they would do it, like

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Speaker 1: from my salary at like our old job and stuff,

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Speaker 1: I think I was like one hundred and fifty dollars. Yeah, yeah, like,

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Speaker 1: and that is also tax deductible, so it's so worth

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Speaker 1: it in my eyes.

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Speaker 2: Yeah, exactly. I think mine was around the same. Sometimes

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Speaker 2: it would be a little bit higher if I was

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Speaker 2: doing more freelance.

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Speaker 3: Work, so it's more work for them to do.

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Speaker 2: But exactly, it comes down to what you value and

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Speaker 2: how you want to spend your time and money.

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Speaker 3: But I definitely think.

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Speaker 2: That that it's worth it, and the peace of mind,

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Speaker 2: honestly is what's priceless. Moving on to the fun stuff,

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Speaker 2: what you can claim. The ATO has a whole guide

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Speaker 2: on all of the different deductions that you can claim,

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Speaker 2: and because it is so individual, we'll link that in

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Speaker 2: the description so that you can check it out and

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Speaker 2: potentially bring.

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Speaker 4: It up with your accountant if you do get one.

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Speaker 2: But there are two main deductions that we want to

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Speaker 2: discuss in today's episode, the Hot Cheek deductions, the Hot

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Speaker 2: Cheek deductions, and that is your handbag and work from

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Speaker 2: home expenses. So let's start with how to claim your

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Speaker 2: handbag at tax time. You can claim a work bag

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Speaker 2: up to three hundred dollars that you've purchased in the

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Speaker 2: last financial year.

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Speaker 3: But there is a butt.

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Speaker 1: There is a butt. There are a.

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Speaker 2: Lot of terms and conditions, So the types of bags

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Speaker 2: that you can claim include a briefcase, a laptop bag,

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Speaker 2: a satchel luggage and a handbag.

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Speaker 4: In limited circumstances.

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Speaker 2: So to claim a deduction for your work bag, you

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Speaker 2: must pay for it and use the bag or case

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Speaker 2: to only carry items for work, and you also must

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Speaker 2: have a record of the purchase and how you use

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Speaker 2: the bag. So eligible items that you can carry in

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Speaker 2: your work bag which you can claim as a deduction

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Speaker 2: may include laptops, tablets, work papers, protective equipment, or diaries,

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Speaker 2: whereas items including gym gear, food, a personal phone, tablet,

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Speaker 2: or laptop are not items you need to carry and

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Speaker 2: use for work, and therefore these are considered private or

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Speaker 2: domestic items. So in the example on the ATO website

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Speaker 2: that they gear. They talk about somebody having one handbag

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Speaker 2: which they carry all their work things in, and then

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Speaker 2: they have a separate bag which has their lunch and

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Speaker 2: their gym gear and their personal phone in it, and

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Speaker 2: that's how they can claim it. I am not entirely sure.

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Speaker 2: Talk to your acount, talk to your accountant about that.

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Speaker 2: But yeah, very interesting because I think that a lot

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Speaker 2: of us get really excited about the prospect of, oh,

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Speaker 2: I can claim my bag as.

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Speaker 1: A I think they've developed that in the last year.

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Speaker 1: I think it's a little bit stricter this year compared

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Speaker 1: to previous years, but.

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Speaker 4: Again I think that's why if you can, if you can,

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Speaker 4: that's a go for it.

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Speaker 2: Yeah, definitely, but I think it's good to know before

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Speaker 2: you try and claim, like maybe your little designer handbag.

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Speaker 1: Yeah literally, because no, jack were more no claims.

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Speaker 2: Probably not worth the time and yeah I do all

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Speaker 2: the fine, Yeah, the time or the fun.

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Speaker 1: Okay. Should we talk work from home expenses?

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Speaker 2: Yes, because this is actually changing a little bit this

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Speaker 2: financial year and according to an article published by the ABC,

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Speaker 2: about four million Australians claimed expenses from working from home

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Speaker 2: in the last financial year. Wow. So even though we've

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Speaker 2: moved out of like lockdown COVID times.

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Speaker 1: I don't say that word anymore.

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Speaker 2: Yeah, the period that shall not be named, A lot

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Speaker 2: of us are still claiming work from home expenses, so

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Speaker 2: I think a lot of you.

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Speaker 3: Chicks will get some use out of this.

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Speaker 2: But work from home expenses that you can claim include

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Speaker 2: things like your internet and data, mobile and home phone,

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00:21:36,200 --> 00:21:41,480
Speaker 2: electricity and gas, stationery, and computer consumables like printer, ink

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Speaker 2: and paper.

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Speaker 4: And there are two key ways that.

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Speaker 2: You can claim your work from home expenses, one of

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Speaker 2: which is slightly changing this tax time. So there is

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Speaker 2: the fixed rate method, which I think a lot of

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Speaker 2: people use because it's kind of like the easier method

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Speaker 2: or the less involved method. So with the fixed rate method,

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Speaker 2: you can claim a fixed rate of seventy cents per

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Speaker 2: hour you worked from home during the last year. This

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Speaker 2: is a change from the last two financial years which

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Speaker 2: was sixty seven cents per work hour. And then there

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Speaker 2: is the actual cost method, And using this method, you

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Speaker 2: work out your deductions by calculating the actual additional expenses

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Speaker 2: you incur when working from home. So this is the

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Speaker 2: one that is in a lot you have to go

443
00:22:32,880 --> 00:22:36,000
Speaker 2: into a lot of death and this includes expenses you

444
00:22:36,000 --> 00:22:39,240
Speaker 2: incur for the decline in the value of depreciating assets

445
00:22:39,280 --> 00:22:43,200
Speaker 2: for example, home office furniture, phones, computers, and laptops, also

446
00:22:43,240 --> 00:22:46,479
Speaker 2: electricity and gas, home and mobile phone, data and internet

447
00:22:46,520 --> 00:22:49,480
Speaker 2: expenses stationary, and also cleaning.

448
00:22:49,119 --> 00:22:51,080
Speaker 3: Your dedicated home office space.

449
00:22:52,080 --> 00:22:56,240
Speaker 2: Yeah, but you can only claim the work related portion

450
00:22:56,800 --> 00:22:59,800
Speaker 2: as a deduction, so you need to figure out how

451
00:22:59,880 --> 00:23:05,680
Speaker 2: much time you're actually using these things for strictly work

452
00:23:05,720 --> 00:23:11,840
Speaker 2: related purposes. And you also can't claim additional running expenses

453
00:23:12,600 --> 00:23:15,720
Speaker 2: if other members of your household are in the same

454
00:23:15,800 --> 00:23:17,040
Speaker 2: room as you as you're.

455
00:23:16,880 --> 00:23:17,639
Speaker 3: Doing your work.

456
00:23:18,000 --> 00:23:20,960
Speaker 1: Oh so if you're like work desk is in the

457
00:23:21,000 --> 00:23:24,760
Speaker 1: living room and your housemate's watching TV, Yeah, you can't

458
00:23:24,760 --> 00:23:27,200
Speaker 1: claim that. Yeah that's crazy.

459
00:23:27,800 --> 00:23:28,320
Speaker 3: Yeah.

460
00:23:28,480 --> 00:23:28,840
Speaker 4: Yeah.

461
00:23:28,920 --> 00:23:32,479
Speaker 2: So the actual cost method is more hands on and

462
00:23:32,520 --> 00:23:34,920
Speaker 2: will require a record that shows how many hours you

463
00:23:34,960 --> 00:23:38,480
Speaker 2: work from home and the additional running expenses you incurred,

464
00:23:38,520 --> 00:23:41,600
Speaker 2: such as bills or receipts, and also how you calculated

465
00:23:42,280 --> 00:23:48,600
Speaker 2: that cost. Can't accountant and everything we've discussed today as

466
00:23:48,600 --> 00:23:50,960
Speaker 2: well is a general overview.

467
00:23:51,040 --> 00:23:54,000
Speaker 4: There are lots of terms begin show that come with

468
00:23:54,400 --> 00:23:55,000
Speaker 4: these things.

469
00:23:55,040 --> 00:23:58,119
Speaker 2: So this is the point of this part of the

470
00:23:58,160 --> 00:24:00,199
Speaker 2: episode is to nudge you in the right direction to

471
00:24:00,240 --> 00:24:02,119
Speaker 2: look into it, yeah, which is why we have the

472
00:24:02,160 --> 00:24:03,920
Speaker 2: links in the description for you to check it out

473
00:24:03,960 --> 00:24:07,119
Speaker 2: and do your own research. Our next Rich Girl error

474
00:24:07,240 --> 00:24:09,560
Speaker 2: tip is to take advantage of end of financial year

475
00:24:09,640 --> 00:24:12,359
Speaker 2: sales and the remaining sale events for the rest of

476
00:24:12,600 --> 00:24:16,520
Speaker 2: the year. Yes, and we did share a breakdown of

477
00:24:16,680 --> 00:24:20,040
Speaker 2: the mid year and nterfinancial year sales in a recent

478
00:24:20,119 --> 00:24:23,280
Speaker 2: episode of News Arrivals, which we've linked in the description

479
00:24:23,400 --> 00:24:26,720
Speaker 2: if you miss that. But midyear and and a financial

480
00:24:26,800 --> 00:24:30,080
Speaker 2: year sales is a great time to invest in any

481
00:24:30,119 --> 00:24:34,399
Speaker 2: pieces as retailers have discounted items on a lot of

482
00:24:34,440 --> 00:24:37,720
Speaker 2: stock as they're trying to make money or clear out

483
00:24:37,720 --> 00:24:38,240
Speaker 2: space for.

484
00:24:38,200 --> 00:24:39,720
Speaker 3: New stock in the new financial year.

485
00:24:39,800 --> 00:24:43,080
Speaker 1: Yeah, and while you're shopping end of financially sales or

486
00:24:43,119 --> 00:24:44,840
Speaker 1: any of the remaining sale events for the rest of

487
00:24:44,880 --> 00:24:46,760
Speaker 1: the year, I came across this thing called the three

488
00:24:46,840 --> 00:24:51,960
Speaker 1: to three three rule for shopping, and it's how to

489
00:24:52,000 --> 00:24:54,679
Speaker 1: figure out whether you will wear the item. And you

490
00:24:54,760 --> 00:24:58,120
Speaker 1: ask the question will I wear it three ways? Will

491
00:24:58,119 --> 00:25:00,639
Speaker 1: I wear it three occasions? And will I wear it

492
00:25:00,680 --> 00:25:02,760
Speaker 1: three months from now? And it helps you kind of

493
00:25:02,840 --> 00:25:05,680
Speaker 1: see whether you can get that cost per where out

494
00:25:05,680 --> 00:25:09,160
Speaker 1: of the item, but as part of your medium money reset.

495
00:25:09,240 --> 00:25:12,239
Speaker 1: I also saw this TikTok come up, and it was like,

496
00:25:12,320 --> 00:25:16,119
Speaker 1: what's like the one budgeting hack that changed your life? Like,

497
00:25:16,119 --> 00:25:18,240
Speaker 1: I'm not talking about X or X. I'm being like

498
00:25:18,280 --> 00:25:20,800
Speaker 1: the thing that literally is so unhinged, but you're like,

499
00:25:21,280 --> 00:25:24,480
Speaker 1: oh my god, I actually am culle it. Yeah, And

500
00:25:25,200 --> 00:25:28,480
Speaker 1: one of the comments had thousands and thousands of likes

501
00:25:28,560 --> 00:25:33,320
Speaker 1: and it was a Swedish death clean This is crazy.

502
00:25:33,800 --> 00:25:35,879
Speaker 4: Why does that sound so heavy metal?

503
00:25:36,160 --> 00:25:38,439
Speaker 1: I know it is very it's a bit dark, but

504
00:25:38,560 --> 00:25:42,600
Speaker 1: I was like, okay, so death cleaning is not about

505
00:25:42,680 --> 00:25:46,399
Speaker 1: dusting or mopping up. It's a permanent form of organization

506
00:25:46,480 --> 00:25:49,399
Speaker 1: that makes your everyday life run more smoothly, and you

507
00:25:49,480 --> 00:25:52,879
Speaker 1: may even find the process it's self enjoyable. It's a

508
00:25:52,920 --> 00:25:55,760
Speaker 1: delight to go through things and remember their worth and

509
00:25:55,840 --> 00:25:59,560
Speaker 1: it's kind of morbid, but it's essentially decluttering your life

510
00:25:59,600 --> 00:26:01,720
Speaker 1: with the idea of who would want this if I

511
00:26:01,840 --> 00:26:05,320
Speaker 1: was no longer hear. So, like when you're going through

512
00:26:05,520 --> 00:26:08,920
Speaker 1: your beauty cabinet and you have like seven different foundations,

513
00:26:09,280 --> 00:26:12,920
Speaker 1: you're like, someone's gonna have to deal with these seven foundations.

514
00:26:13,840 --> 00:26:17,959
Speaker 1: If I don't yeah, literally like it's hectic. Yeah, but

515
00:26:18,119 --> 00:26:21,280
Speaker 1: like you kind of realize, oh, maybe I don't need

516
00:26:21,320 --> 00:26:24,199
Speaker 1: this stuff. But yeah, that's like the concept of a

517
00:26:24,200 --> 00:26:27,560
Speaker 1: Swedish death clean is when you're decluttering, you kind of think,

518
00:26:27,920 --> 00:26:29,120
Speaker 1: is anyone going to want this?

519
00:26:29,400 --> 00:26:30,120
Speaker 4: Yeah?

520
00:26:30,160 --> 00:26:32,439
Speaker 1: Slash, people are gonna have to deal with this, And

521
00:26:32,480 --> 00:26:33,840
Speaker 1: I'm like, well.

522
00:26:33,800 --> 00:26:37,280
Speaker 2: I think that's good perspective because the people are either

523
00:26:37,520 --> 00:26:40,760
Speaker 2: whoever you leave behind or you. You're gonna have to

524
00:26:40,760 --> 00:26:43,399
Speaker 2: deal with it literally, so may as well deal with

525
00:26:43,400 --> 00:26:43,720
Speaker 2: it now.

526
00:26:44,040 --> 00:26:48,600
Speaker 1: And finally, for our rich girl er Teops, I wanted

527
00:26:48,640 --> 00:26:51,399
Speaker 1: to read a post that I saw from How I

528
00:26:51,440 --> 00:26:54,800
Speaker 1: Fund This because I think it was the perfect example

529
00:26:55,359 --> 00:27:00,000
Speaker 1: on how to identify the everyday moments that are really remarkable,

530
00:27:00,280 --> 00:27:03,919
Speaker 1: especially with your money. And it's basically the post was

531
00:27:04,280 --> 00:27:08,159
Speaker 1: financial privileges that aren't little. Adding extra items to your

532
00:27:08,200 --> 00:27:11,880
Speaker 1: grocery shop, ordering a takeaway when you've had a bad day,

533
00:27:12,720 --> 00:27:18,080
Speaker 1: saying yes to events, having family help with childcare, being

534
00:27:18,160 --> 00:27:22,000
Speaker 1: able to save money in this climate, leaving situations that

535
00:27:22,080 --> 00:27:25,760
Speaker 1: no longer serve you, room in the budget for non essentials,

536
00:27:26,359 --> 00:27:30,080
Speaker 1: and not having to choose the cheapest item on the menu. Now,

537
00:27:30,119 --> 00:27:35,080
Speaker 1: this post received forty six point four thousand likes, which

538
00:27:35,160 --> 00:27:38,200
Speaker 1: to me tells me people needed to hear that their

539
00:27:38,240 --> 00:27:41,879
Speaker 1: finances weren't as bad as what they thought and what

540
00:27:41,960 --> 00:27:46,120
Speaker 1: they were telling themselves. It's very easy to hear statistics

541
00:27:46,160 --> 00:27:49,439
Speaker 1: about how much you're supposed to have saved and or

542
00:27:49,520 --> 00:27:52,040
Speaker 1: like even just the goss of cheese. You know, what

543
00:27:52,080 --> 00:27:55,000
Speaker 1: the fuck is up that they know? We'll hash that

544
00:27:55,080 --> 00:27:55,959
Speaker 1: out another app.

545
00:27:56,160 --> 00:27:57,480
Speaker 3: But there are dooplup trees.

546
00:27:57,760 --> 00:28:00,679
Speaker 1: Yeah, but there are so many a wins that we

547
00:28:00,800 --> 00:28:06,800
Speaker 1: overlook because they're outshone by these big milestones that majority

548
00:28:06,800 --> 00:28:10,760
Speaker 1: of people, as shown by this post I think probably

549
00:28:11,000 --> 00:28:14,919
Speaker 1: don't have, and that more people need to celebrate the

550
00:28:14,960 --> 00:28:17,920
Speaker 1: small wins and the little privileges that aren't so little,

551
00:28:18,280 --> 00:28:19,680
Speaker 1: especially with their finances.

552
00:28:20,040 --> 00:28:20,280
Speaker 4: Yeah.

553
00:28:20,440 --> 00:28:23,200
Speaker 2: I think that's so important, especially with the comparison trap

554
00:28:23,240 --> 00:28:26,160
Speaker 2: that we find ourselves in on social media and seeing

555
00:28:26,200 --> 00:28:29,120
Speaker 2: people celebrate these milestones or the clothes that they wear

556
00:28:29,200 --> 00:28:32,600
Speaker 2: or the designer labels that they have, and it's a

557
00:28:32,640 --> 00:28:36,639
Speaker 2: reminder that like, you're not falling behind, you're actually doing great.

558
00:28:36,840 --> 00:28:44,000
Speaker 1: Yeah, and that well that is a rap. Chicky Chicks,

559
00:28:44,560 --> 00:28:46,200
Speaker 1: thank you to m Ika made for making this episode

560
00:28:46,200 --> 00:28:48,080
Speaker 1: of Two Preach Chicks happen. We love being in your

561
00:28:48,080 --> 00:28:56,600
Speaker 1: ear holes. Magics Bad