WEBVTT - How we saved a listener $3000 a year 0:00:07.500 --> 0:00:10.530 Hello and welcome to It all adds up. The podcast 0:00:10.530 --> 0:00:12.510 where we chat about money, how to get it, how 0:00:12.510 --> 0:00:15.630 to spend it, and how to invest it. I'm senior 0:00:15.630 --> 0:00:17.940 economics writer at the Sydney Morning Herald and The Age 0:00:17.940 --> 0:00:19.979 newspaper's Jess Irvine, and. 0:00:19.980 --> 0:00:22.169 I'm money editor Dom Powell. And this week is the 0:00:22.170 --> 0:00:25.529 grand finale of our special series focusing on real life budgets, 0:00:25.530 --> 0:00:28.620 money questions, and how you're tackling the rising cost of living. 0:00:28.620 --> 0:00:32.490 Yes, In this week's question comes from listener Sarah, who 0:00:32.490 --> 0:00:35.820 sent us in her budget and then she, in the interim, 0:00:35.820 --> 0:00:39.420 listen to the other budget episodes that we've done and 0:00:39.420 --> 0:00:42.420 went away and actually saved herself a couple of thousand 0:00:42.420 --> 0:00:45.750 dollars following some of the tips and tricks that we mentioned. 0:00:45.750 --> 0:00:47.610 Dom So yay! Us Yeah. 0:00:47.610 --> 0:00:50.640 Well, who who knew? Who knew that we're actually giving 0:00:50.640 --> 0:00:51.839 good advice on this podcast? 0:00:51.960 --> 0:00:53.910 We knew deep down inside, but it's nice to have 0:00:53.910 --> 0:00:57.510 that external validation. Anyway, we have a voice memo from Sarah, 0:00:57.510 --> 0:00:58.710 so let's have a listen. 0:01:01.860 --> 0:01:04.710 Hello, Jess and Dom. My name is Sarah, and I'm 0:01:04.709 --> 0:01:07.740 a paramedic and a 50 year old soul parent to 0:01:07.740 --> 0:01:11.310 two beautiful girls, 28 years old and 16 years old. 0:01:12.300 --> 0:01:15.600 Thank you so much for scrutinizing my budget. I've been 0:01:15.600 --> 0:01:18.570 looking at various ways that I can make some savings. 0:01:19.050 --> 0:01:22.890 And recently I've managed to make some changes with my 0:01:22.890 --> 0:01:28.080 health insurance by reducing it down to just hospital only 0:01:28.170 --> 0:01:31.650 and no extras and having a bigger excess and reduce 0:01:31.650 --> 0:01:35.819 that cost from $274 a fortnight down to 150, which 0:01:35.819 --> 0:01:39.000 was amazing. I'm looking at other ways that I can 0:01:39.000 --> 0:01:42.810 save because my overarching goal is in 15 years time, 0:01:42.810 --> 0:01:46.230 I plan to purchase my home outright at retirement and 0:01:46.230 --> 0:01:50.280 still have a great retirement savings plan as well. So 0:01:50.280 --> 0:01:54.600 any ideas on how I can save some costs and 0:01:54.600 --> 0:01:59.850 increase my surplus would be most amazing. Thank you so much. 0:02:01.320 --> 0:02:03.630 Well, thanks for sending that in, Sarah. Love to hear 0:02:03.630 --> 0:02:06.390 that you've been listening to the podcast and, you know, 0:02:06.390 --> 0:02:08.250 implementing some of the some of the things that we've 0:02:08.350 --> 0:02:10.500 been talking about. I think there's a few things to 0:02:10.500 --> 0:02:12.360 look at when we look at Sarah's budgets and the 0:02:12.360 --> 0:02:15.210 things that she's she's changed. So if we look at 0:02:15.210 --> 0:02:18.450 the first budget that Sarah sent us a few weeks ago, 0:02:18.690 --> 0:02:21.209 she was saying that her annual cash surplus was around 0:02:21.210 --> 0:02:25.050 about 4000. And in the MOStrillionECENT one that she's sent 0:02:25.050 --> 0:02:28.110 us just this week, she's increased that cash surplus to 0:02:28.110 --> 0:02:31.890 around 7000, which is great. That's 3000 bucks extra in 0:02:31.889 --> 0:02:32.429 the pocket. 0:02:32.820 --> 0:02:35.519 And that's per year. It's not every month or something, 0:02:35.880 --> 0:02:40.050 but but that's how much she's perhaps can save annually. 0:02:40.050 --> 0:02:42.750 But that's fantastic because, you know, 4000 might be a 0:02:42.750 --> 0:02:45.210 bit slim. We're getting towards something that's a bit more 0:02:45.210 --> 0:02:48.690 of a decent sort of cash surplus being generated each year, 0:02:48.690 --> 0:02:49.820 which isn't that great. 0:02:49.830 --> 0:02:53.580 Yeah, absolutely. And I mean, there's a few reasons when, 0:02:53.580 --> 0:02:56.399 you know, when when you look at Sarah's budget that 0:02:56.400 --> 0:02:59.190 she's increased this cash surplus. One of the most notable 0:02:59.190 --> 0:03:01.650 things that I saw was that she's increased the amount 0:03:01.650 --> 0:03:04.320 of money that she's gotten from her side hustle, which 0:03:04.320 --> 0:03:08.700 I believe is, I assume, teaching Pilates. It just says Pilates. 0:03:08.970 --> 0:03:11.160 I can't imagine you can get paid for doing Pilates, 0:03:11.160 --> 0:03:14.700 but if you can, someone let me know, please. But 0:03:14.700 --> 0:03:18.270 I'm assuming that Sarah does do Pilates instructing as a 0:03:18.270 --> 0:03:20.400 side hustle and she's increased the amount of money that 0:03:20.400 --> 0:03:23.430 she's gotten from that quite significantly. So this is great. 0:03:23.430 --> 0:03:25.920 And also a real testament to the strength of having 0:03:25.919 --> 0:03:27.119 a good strong side hustle. 0:03:27.300 --> 0:03:29.940 That's a fantastic, solid side hustle. And I did read 0:03:29.940 --> 0:03:32.250 that it's the number of Australians who are actually sort 0:03:32.250 --> 0:03:35.190 of have two jobs at the moment is increasing because 0:03:35.190 --> 0:03:37.890 you know, you are looking for that extra source of 0:03:37.890 --> 0:03:41.100 income on the saving side as well. So she mentioned 0:03:41.100 --> 0:03:44.640 that she saved on her electricity and the health insurance 0:03:44.640 --> 0:03:47.910 as well, noting that if you increase your excess, you 0:03:47.910 --> 0:03:49.950 have to pay more in the event that she will 0:03:49.950 --> 0:03:52.590 have to make a claim. So just being careful of 0:03:52.590 --> 0:03:55.650 that and dropping the extras because you don't need the 0:03:55.650 --> 0:03:58.200 extras to avoid the Medicare levy surcharge, if you're over 0:03:58.200 --> 0:04:01.470 that 90,000 single income threshold where you have to pay 0:04:01.470 --> 0:04:04.200 that tax slug, if you don't have the hospital cover, 0:04:04.200 --> 0:04:06.300 you only do only need the hospital cover. But sort 0:04:06.300 --> 0:04:08.880 of doing an analysis for yourself as to whether the 0:04:08.880 --> 0:04:12.870 benefits you get from having health insurance extras you actually 0:04:12.870 --> 0:04:15.360 receive back more than you pay in premiums is a 0:04:15.360 --> 0:04:18.990 really good exercise for people to do. And it sounds 0:04:18.990 --> 0:04:21.479 like Sarah's gone away and done that analysis and figured 0:04:21.480 --> 0:04:24.150 out that, yeah, she can reduce the premium by, you know, 0:04:24.240 --> 0:04:26.969 $100 or whatever it was. That's that's fantastic. 0:04:26.970 --> 0:04:29.040 Yeah. And it looks like she's also cut down on 0:04:29.040 --> 0:04:31.440 her expenditure, not by a huge amount, just by, I 0:04:31.440 --> 0:04:34.560 think it was maybe 20 or 30 bucks a fortnight 0:04:34.560 --> 0:04:37.200 or something like that on just doctors and specialists. So 0:04:37.320 --> 0:04:39.299 clearly Sarah sat down and had a look at the 0:04:39.300 --> 0:04:41.489 money that she's spending on, you know, health and health 0:04:41.490 --> 0:04:43.830 insurance and sort of just really worked out all the 0:04:43.830 --> 0:04:45.479 areas that she can she can cut back on, which 0:04:45.480 --> 0:04:47.640 is great, getting rid of any of those sort of 0:04:47.760 --> 0:04:52.740 non-essential sort of specialist visits or doctor visits is always 0:04:52.740 --> 0:04:54.270 a good way to save a bit of cash. 0:04:54.570 --> 0:04:58.830 And I noticed she's also cancelled her audible subscription for 0:04:58.830 --> 0:05:01.440 the for a little while. And that obviously saves money. 0:05:01.440 --> 0:05:02.969 But the great thing about that, I don't know if 0:05:02.970 --> 0:05:05.100 you've ever done this done but I mean I have 0:05:05.100 --> 0:05:07.620 had audible and then you cancel it and then you 0:05:07.620 --> 0:05:10.950 get bombarded with come back, it'll be free. We won't 0:05:10.950 --> 0:05:13.140 charge you for a whole month or two. Like you 0:05:13.140 --> 0:05:16.920 get the free offers so you can resubscribe anytime you want. 0:05:17.040 --> 0:05:19.080 Audible is one of those things that I think is 0:05:19.080 --> 0:05:22.800 almost always sending me deals like I've never done. I 0:05:22.800 --> 0:05:25.200 think I've ever been sent so many offers by a 0:05:25.200 --> 0:05:27.810 company other than Audible like in my life. Like it's, 0:05:27.810 --> 0:05:30.540 it's ridiculous. And I don't even listen to audiobooks. I 0:05:30.540 --> 0:05:33.600 think I listen to one audiobook maybe once in 2018. So, 0:05:33.600 --> 0:05:35.520 you know, there's a life hack through everyone, get rid 0:05:35.520 --> 0:05:37.409 of your audible and then you can, you know, just 0:05:37.410 --> 0:05:39.060 get free offers for the rest of your life. 0:05:39.240 --> 0:05:42.029 John What did you think in general? I mean, I mean, 0:05:42.029 --> 0:05:44.520 I would now claim this is a testament to having 0:05:44.520 --> 0:05:47.310 a budget and seeing how realistic it is and tracking 0:05:47.310 --> 0:05:50.700 your spending and, you know, finding those little savings, because 0:05:50.700 --> 0:05:52.529 we saw that Sarah was doing sort of more a 0:05:52.529 --> 0:05:57.420 bucket style approach, which is traditionally what you've been doing. 0:05:57.420 --> 0:05:58.890 How do you how do you feel about that? 0:05:58.890 --> 0:06:01.350 Well, I think this is. If you, you know, listen 0:06:01.350 --> 0:06:04.080 back to the first episode of this series that we did, 0:06:04.200 --> 0:06:06.930 you know, six weeks ago now, where I sort of 0:06:06.930 --> 0:06:10.560 admitted my terrible budgeting strategies. This all sort of hits 0:06:10.560 --> 0:06:12.570 quite close to home, to be honest, because Sarah pretty 0:06:12.570 --> 0:06:15.600 much said, I did this, these sort of strategies. I 0:06:15.600 --> 0:06:18.360 did this sort of, you know, bucket based approach, and 0:06:18.360 --> 0:06:20.820 all I kept doing was just dipping into the buckets, 0:06:20.820 --> 0:06:22.560 you know, I kept going and taking a little bit 0:06:22.560 --> 0:06:23.790 out of this fund, a little bit out of this 0:06:23.790 --> 0:06:26.580 fund when I needed it. And that's exactly what I do, 0:06:26.580 --> 0:06:29.010 you know? So this is this is this is I 0:06:29.010 --> 0:06:32.159 suppose you're right, a testament to having a real budget, 0:06:32.580 --> 0:06:36.360 meticulously tracking every single thing you spend money on rather 0:06:36.360 --> 0:06:40.530 than just sort of grouping it into generalized categories. Yeah. 0:06:40.529 --> 0:06:43.230 And like, look, you don't have to do it forever, 0:06:43.230 --> 0:06:45.210 you know, you don't have to be doing this every 0:06:45.210 --> 0:06:49.590 single month, although you can if you're me, but just, 0:06:49.589 --> 0:06:52.770 you know, doing it once, having the really good, fine 0:06:52.770 --> 0:06:56.490 tooth comb through the budget, questioning everything as to whether 0:06:56.490 --> 0:06:59.640 it does align with your enjoyment of the the dollars 0:06:59.640 --> 0:07:02.130 that are going out and having a look for sort 0:07:02.130 --> 0:07:05.159 of those little savings because it all adds up. 0:07:05.370 --> 0:07:07.740 As all add up. I think the buckets method can 0:07:07.740 --> 0:07:10.500 be very attractive for a lot of people because it 0:07:10.500 --> 0:07:13.290 seems very low effort. And I think that if you 0:07:13.290 --> 0:07:16.530 have a really simple life, right, like if you've if 0:07:16.530 --> 0:07:20.970 you don't spend money on sort of strange things, you know, 0:07:20.970 --> 0:07:25.530 you've got very limited, you know, expenditure, you've got very 0:07:25.530 --> 0:07:29.610 basic expenses, all that sort of stuff, then the buckets 0:07:29.610 --> 0:07:31.739 method works well because then, you know, you don't have 0:07:31.740 --> 0:07:33.990 to really think too much about it. But when you're 0:07:34.230 --> 0:07:35.820 buying a little thing here or are you spending a 0:07:35.820 --> 0:07:37.680 little bit money on a holiday here and all that 0:07:37.680 --> 0:07:39.360 sort of stuff, then you really do need to have 0:07:39.360 --> 0:07:42.420 that oversight, I think, which is where obviously we've seen 0:07:42.420 --> 0:07:45.180 this with Sarah's budget here, that now once she starts 0:07:45.180 --> 0:07:47.520 tracking it all, she can really see where all that 0:07:47.520 --> 0:07:50.610 money's going and then start to make those savings. 0:07:50.730 --> 0:07:52.860 Yeah, And it's not about sort of living on a 0:07:52.860 --> 0:07:55.380 barebones budget for the rest of your life and cutting 0:07:55.380 --> 0:07:57.780 your own hair as some of us in the room 0:07:57.780 --> 0:08:01.920 have done. It's me. But even though I've been on 0:08:01.920 --> 0:08:04.290 that arc of, you know, sometimes it's fun to see 0:08:04.530 --> 0:08:06.150 how much you can save, but you can't live like 0:08:06.150 --> 0:08:09.060 that forever. And making sure that you're making room for 0:08:09.060 --> 0:08:12.210 enjoyment in your budget is so important. Although things are 0:08:12.210 --> 0:08:15.090 a bit tight at the moment for a lot of people. 0:08:15.090 --> 0:08:17.400 So having the good look but you know, making sure 0:08:17.400 --> 0:08:19.740 that you do have some some fun in the budget 0:08:19.740 --> 0:08:20.580 as well. But looking at. 0:08:20.580 --> 0:08:23.910 The rest of Sarah's budget, there are some areas where, 0:08:23.910 --> 0:08:25.920 you know, you can see that there will be some 0:08:25.920 --> 0:08:29.130 cost savings in the future. As she mentioned, she has 0:08:29.130 --> 0:08:31.800 a 16 year old daughter at the moment. She shows 0:08:31.800 --> 0:08:35.370 on her budget that her school costs are around $10,000 0:08:35.370 --> 0:08:39.030 a year. Obviously, that will stop eventually, and that's $10,000 0:08:39.030 --> 0:08:42.600 that you could do anything with. You could invest it, 0:08:42.600 --> 0:08:44.250 you could put it into your super. 0:08:44.640 --> 0:08:46.350 So it might be fun for Sarah to do a 0:08:46.350 --> 0:08:48.809 different version of her spreadsheet where you do actually go 0:08:48.809 --> 0:08:50.970 through and cut out some of those kid costs. Because 0:08:50.970 --> 0:08:53.550 I've done that and I'll be living a life of Riley. 0:08:53.550 --> 0:08:57.870 I'll be fine. Yeah, kids are expensive. So I think, yeah, 0:08:57.870 --> 0:09:01.260 particularly planning for retirement, that's that's something that's going to come, 0:09:01.260 --> 0:09:03.720 come out. I do also see that there is quite 0:09:03.720 --> 0:09:06.630 a high spending on holidays which, you know, in her 0:09:06.630 --> 0:09:10.140 email Sarah said she wants to live now as well. 0:09:10.140 --> 0:09:13.590 You know not just to be saving only for future 0:09:13.590 --> 0:09:16.620 her but also have a good life with the holiday front. 0:09:16.620 --> 0:09:19.170 But that is something that can be wound back, I guess, 0:09:19.559 --> 0:09:27.750 if things get much tighter. She's also spending $1,500 on hairdressing. But, 0:09:27.750 --> 0:09:29.850 you know, aforementioned tips. 0:09:30.740 --> 0:09:33.300 You got to suggest that Sarah cuts her own hair. 0:09:33.570 --> 0:09:35.609 You know what? I don't think I am going to 0:09:35.610 --> 0:09:38.520 because I have done it. It's really stressful. So I 0:09:38.520 --> 0:09:41.910 am building hairdressing back into my to my budget. But 0:09:41.910 --> 0:09:43.739 I do also get a bit shirty because I feel 0:09:43.740 --> 0:09:46.589 like women have to spend more on haircuts. So yeah, 0:09:46.590 --> 0:09:50.190 I mean, elsewhere we've got about $700 a year for clothes, 0:09:50.190 --> 0:09:55.589 which seems pretty reasonable, $600 a year set aside for gifts, 0:09:55.920 --> 0:09:58.920 which I'm, I find I spend a bit more than that, actually, 0:09:58.920 --> 0:10:01.860 you know, some streaming services. You can't cut out everything. 0:10:01.860 --> 0:10:03.959 We need to to live. And what's really nice to 0:10:03.960 --> 0:10:08.429 see is Sarah also puts aside, you know, over $500 0:10:08.429 --> 0:10:11.670 a year for charity donations. So that's another benefit of, 0:10:11.670 --> 0:10:13.770 you know, looking at your money and having a plan 0:10:13.770 --> 0:10:16.949 for it. You can set aside some some feel good 0:10:16.950 --> 0:10:19.500 spending money and that's certainly appreciated. 0:10:19.620 --> 0:10:22.200 Some feel good tax deductible spending money. 0:10:22.200 --> 0:10:24.630 Well, that is true. Do not forget to claim that 0:10:24.630 --> 0:10:28.170 on tax, Sarah, at the end of the financial year. 0:10:29.040 --> 0:10:37.770 We'll be back in just a moment. Now I feel 0:10:37.770 --> 0:10:40.439 like we should get into one of Sarah's major questions, 0:10:40.440 --> 0:10:44.429 which was her plan to purchase a home, I believe, 0:10:44.429 --> 0:10:48.719 in about 15 years once she's retired and presumably using 0:10:48.720 --> 0:10:52.740 her superannuation, which she will have access to purchase her 0:10:52.740 --> 0:10:56.760 house now. Obviously there's lots of ways that this could 0:10:56.760 --> 0:10:58.979 go and the ways and ways that you could do this. 0:10:58.980 --> 0:11:00.270 But Jess, what do you think about that as a 0:11:00.270 --> 0:11:01.380 sort of a plan? 0:11:01.650 --> 0:11:05.370 Yeah. Well, I've always wondered with my mortgage if it will, 0:11:05.370 --> 0:11:07.500 it is so big that if I will be at 0:11:07.500 --> 0:11:10.830 a point where I may be able to use some 0:11:10.830 --> 0:11:14.550 of my super when I access it, you have to 0:11:14.550 --> 0:11:17.130 make various conditions of release, but they can kick in 0:11:17.130 --> 0:11:20.250 from the age of 60. Whether I might use some 0:11:20.250 --> 0:11:22.920 of my super money as a lump sum to pay 0:11:22.920 --> 0:11:25.350 off my mortgage. And we're seeing that many people are 0:11:25.350 --> 0:11:29.250 keeping their mortgages into retirement and doing just that. So 0:11:29.250 --> 0:11:31.770 I guess Sarah's doing another version of that where, you know, 0:11:31.800 --> 0:11:35.069 she's putting all the money into super and she's got 0:11:35.070 --> 0:11:38.220 a nice healthy nest egg there. And she's working in 0:11:38.220 --> 0:11:40.890 a sector where she gets a pretty generous rate of 0:11:40.890 --> 0:11:44.790 contribution from her employer and she is topping that up 0:11:44.880 --> 0:11:48.780 as well with extra contributions. So maybe it grows in 0:11:48.780 --> 0:11:51.270 whatever the assets are there, not in property because she 0:11:51.270 --> 0:11:53.489 hasn't bought the property yet, but it grows and there's 0:11:53.490 --> 0:11:56.220 great tax deductions. And then if you can pull it 0:11:56.220 --> 0:11:58.950 all out at the age that of 65 seems to 0:11:58.950 --> 0:12:02.270 be what's in her plan and then purchase the property. 0:12:02.280 --> 0:12:05.010 You know, you're making a you're making an asset allocation 0:12:05.010 --> 0:12:07.500 decision there. And my main thing and I would feel 0:12:07.500 --> 0:12:09.120 bad if I didn't sort of at least put this 0:12:09.120 --> 0:12:12.810 in the mind is things change in super. And I 0:12:12.809 --> 0:12:14.910 have always wondered if one of the things that might 0:12:14.910 --> 0:12:18.840 change would be if they put conditions around whether you 0:12:18.840 --> 0:12:21.809 can access the money as a lump sum. There is 0:12:21.809 --> 0:12:26.309 no suggestion at the moment about that, but there is 0:12:26.309 --> 0:12:29.610 talk about shifting people towards sort of pension based super 0:12:29.610 --> 0:12:31.949 payouts so that, you know, you're sort of you're withdrawing 0:12:31.950 --> 0:12:34.620 a certain percentage of your balance each year rather than 0:12:34.620 --> 0:12:36.600 taking it all out. And some people are not as 0:12:36.600 --> 0:12:38.550 responsible as Sarah and buying a home, but, you know, 0:12:38.550 --> 0:12:40.830 go to some great holidays and then living on the 0:12:40.830 --> 0:12:44.459 age pension. And so I think that's just something to 0:12:44.460 --> 0:12:48.300 keep in mind. And we can't give financial advice about 0:12:48.300 --> 0:12:51.180 that sort of thing. But, you know, just being just 0:12:51.179 --> 0:12:54.330 keeping an eye on that, I guess if the plan 0:12:54.330 --> 0:12:56.520 is to use the super to buy the house. 0:12:56.520 --> 0:12:59.100 Yeah. And I think that if we've been shown anything 0:12:59.100 --> 0:13:03.540 from the recent debate over super in the past few weeks, 0:13:03.540 --> 0:13:06.569 is that any sort of changes to these these systems 0:13:06.570 --> 0:13:09.330 will be telegraphed well ahead of time. You know, there 0:13:09.330 --> 0:13:11.400 will be you know, you'll you'll have a good few 0:13:11.400 --> 0:13:14.400 years to sort of work it out. So like let's 0:13:14.400 --> 0:13:18.990 just say, you know, that does something like that does happen. 0:13:18.990 --> 0:13:21.000 You'll have a long time to be able to sort 0:13:21.000 --> 0:13:24.450 of plan for it and potentially work around it and 0:13:24.450 --> 0:13:27.630 do something else. Something else I would also mention with 0:13:27.720 --> 0:13:30.660 sort of Sarah's plan here is that I think, you know, 0:13:30.840 --> 0:13:32.809 it's got a lot of merit, but there is the 0:13:32.820 --> 0:13:35.430 sort of the downside that she will be paying rent 0:13:35.429 --> 0:13:39.480 for the next 15 years, which just obviously, you know, 0:13:39.720 --> 0:13:43.319 never feels great in terms of an investment. You know, 0:13:43.320 --> 0:13:46.469 people sort of say that rent is like dead money 0:13:46.470 --> 0:13:48.720 in a sense, which is not something I necessarily agree with. But, 0:13:48.720 --> 0:13:51.030 you know, there is a bit of a downside to 0:13:51.059 --> 0:13:53.910 to not putting that into a mortgage. 0:13:54.150 --> 0:13:56.520 Yep. There's the rent is the dead money. And then 0:13:56.520 --> 0:13:58.560 if you do get the mortgage, then the interest that 0:13:58.559 --> 0:14:00.450 you pay to the bank is the dead money. So 0:14:00.450 --> 0:14:02.849 that's maybe a trade off that she's thought about and 0:14:02.850 --> 0:14:04.980 we don't know. But it could be a situation where, 0:14:04.980 --> 0:14:07.620 you know, you're living, you're renting somewhere that you want 0:14:07.620 --> 0:14:11.070 for your lifestyle now and that maybe she can, you know, 0:14:11.070 --> 0:14:13.380 when she does buy, maybe she'll be living a bit 0:14:13.380 --> 0:14:16.200 further out or in something that's smaller than she's got 0:14:16.200 --> 0:14:19.320 now because, you know, you've got the kids now. But 0:14:19.320 --> 0:14:20.940 in the future you might be able to buy a 0:14:20.940 --> 0:14:24.870 smaller property. You know, maybe that's something that she's she's 0:14:24.870 --> 0:14:28.050 thinking about. So, yeah, I guess all of this is 0:14:28.050 --> 0:14:32.160 sort of highly, highly personal to your own circumstances. But Sarah, 0:14:32.160 --> 0:14:34.560 thank you so much for sending in your budgets. I've 0:14:34.560 --> 0:14:36.840 loved seeing the evolution and I'm glad to hear that 0:14:36.840 --> 0:14:39.359 we have helped a little bit. That's a it's a 0:14:39.360 --> 0:14:42.510 lovely note to to leave things on really with this 0:14:42.510 --> 0:14:44.520 series that we've done. Dom That's that's what I hoped 0:14:44.520 --> 0:14:45.060 would happen. 0:14:45.210 --> 0:14:47.640 Absolutely. You know it's it's it's real It's a real 0:14:47.640 --> 0:14:52.260 world impact. Yes. So thanks to everyone for tuning in 0:14:52.260 --> 0:14:55.680 over the last six weeks listening to us dissect some 0:14:55.680 --> 0:14:58.410 real life budgets. I hope you did take something away 0:14:58.410 --> 0:15:01.710 from it. I hope you got something worthwhile, something you 0:15:01.710 --> 0:15:04.800 can take home and apply it to your financials. It's 0:15:04.800 --> 0:15:06.660 been really enjoyable to do and it's been so much 0:15:06.660 --> 0:15:10.770 fun to hear from everyone sending in their questions and 0:15:10.770 --> 0:15:11.760 their spreadsheets. 0:15:12.150 --> 0:15:13.800 And I think, you know, the more we can be 0:15:13.800 --> 0:15:16.859 transparent and talk about our money, the better off that 0:15:16.860 --> 0:15:19.590 situation that puts everyone in. And if you're bereft of 0:15:19.590 --> 0:15:21.480 someone to send your budget to, you can share it 0:15:21.480 --> 0:15:24.600 with a friend. Like I think having this conversation with 0:15:24.600 --> 0:15:27.510 friends and family can be just as much fun too. 0:15:27.510 --> 0:15:31.110 But I've certainly enjoyed having a squiz at everyone's numbers 0:15:31.110 --> 0:15:33.320 And yeah, thanks so much for listening. 0:15:33.330 --> 0:15:37.470 We'll be back with our next series shortly. But until then, 0:15:37.470 --> 0:15:40.170 be well and keep on saving those dollars. 0:15:40.470 --> 0:15:41.609 Because it all adds up though. 0:15:41.790 --> 0:15:42.960 It does all that up. Just. 0:15:46.780 --> 0:15:49.510 This episode of It All Adds Up was produced by 0:15:49.510 --> 0:15:53.200 Chai Wong. The information discussed is general in nature and 0:15:53.200 --> 0:15:56.890 does not take into account your personal financial situation, goals 0:15:56.890 --> 0:16:00.130 or objectives. You should always do your own research or 0:16:00.130 --> 0:16:04.630 get professional advice before making any major financial decisions. If 0:16:04.630 --> 0:16:07.840 you like today's episode hit follow in your podcast app, 0:16:07.840 --> 0:16:11.000 leave a review and recommend it to all your friends. 0:16:11.020 --> 0:16:14.530 You can submit your listener questions in text or audio 0:16:14.530 --> 0:16:18.580 format at it all adds up at Nine.com.au you.