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Speaker 1: My name's Sasha Bamblet. I'm a proud First Nations woman

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Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya Niana,

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Speaker 1: Kaka yah Ya bin Ahaka Nian Our gay In Mbini

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Speaker 1: yakarum Jar dominyamiga Umagahawaka Woman, Damon imlan Bumba ban Gadabomba

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Speaker 1: in and now in wakah ghan On yak rum Jar

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Speaker 1: water Nadaa. Hello, beautiful friends, we gather on the lands

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Speaker 1: of the Aboriginal people. We thank acknowledge and respect the

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Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure

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Speaker 1: in all the land and respect all that you see.

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Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,

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Speaker 1: bringing you the tools, knowledge and resources for.

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Speaker 2: You to thrive. She's on the Money. She's on the Money.

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Speaker 2: Hello and welcome to She's on the Money, the podcast

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Speaker 2: that makes personal finance fun, especially on Fridays. My friends,

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Speaker 2: it is our favorite day of the week because we

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Speaker 2: get to get our little team together and celebrate you.

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Speaker 3: How beautiful. She's on the Money Community.

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Speaker 2: Miss Jess Grie, She's here and she is going to

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Speaker 2: be sharing our favorite money wins. Miss Bechsayed has a

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Speaker 2: number of broke tips to share, and we're going to

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Speaker 2: be helping to answer a money dilemma. Is it a

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Speaker 2: good idea to use equity in your home to buy

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Speaker 2: a car? And something that you slid into our dms

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Speaker 2: about being asked to contribute to a trust rather than

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Speaker 2: gifts for a one.

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Speaker 3: Year old's birthday party.

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Speaker 2: So before we get there, because I am very interested

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Speaker 2: in both of those topics, my friends, how were your weeks? Waiting?

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Speaker 4: Lovely?

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Speaker 5: Nothing, she re exciting to report, checking along.

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Speaker 4: Yeah, loving that.

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Speaker 5: We're starting to see a bit of spring now and

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Speaker 5: I see the green on the trees and the flowers growing.

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Speaker 3: The smell for me ah to rain, the smell of

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Speaker 3: the cut grass.

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Speaker 2: But just like everybody is getting ready, the grass is

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Speaker 2: starting to grow, and you know it's coming into spring.

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Speaker 3: Do you know why? Because my husband's complaining about having

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Speaker 3: to mow the lawn more. I have to mow the

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Speaker 3: lawn again this weekend, And I'm like, oh, life must

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Speaker 3: be so tough for you.

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Speaker 5: Rap I've been waiting a whole year to start chaos gardening.

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Speaker 5: I feel like we spoke about this at SO and

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Speaker 5: Springs a good time to plant a lot of things,

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Speaker 5: so you're excited. I want to go to Buddings and

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Speaker 5: get like a little plant to pot that I can

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Speaker 5: take with me, Like if I move and stuff and

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Speaker 5: just plant a bunch of flowers, I can come.

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Speaker 6: Yeah.

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Speaker 2: Cute working on that at the moment.

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Speaker 4: My god, Well, my lovely friend who I live with

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Speaker 4: also she did our front garden like months ago, and

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Speaker 4: now we're finally starting to see the fruits of isn't

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Speaker 4: it cute.

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Speaker 3: When we walk home and you're like, oh, there's a

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Speaker 3: little flowers.

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Speaker 4: Oh my god, it's so gorgeous, so cute. That sounds lovely.

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Speaker 4: And also it's almost Halloween, which is very exciting.

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Speaker 2: We got to hear more about Jess's pumpkin. I love that,

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Speaker 2: but we won't bring that up if you know, you know,

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Speaker 2: I suppose yes, are you doing anything for Halloween? Like,

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Speaker 2: are you excited about it?

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Speaker 4: I do also love any kind of theme, anything that

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Speaker 4: you can dress up for celebrates so fun. Like, I'm

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Speaker 4: sure I will do something. I just don't know what

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Speaker 4: it is yet.

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Speaker 2: I'm like more of a day of kind of planner,

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Speaker 2: you know, I'm just a vicarious Halloween I don't organize anything.

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Speaker 2: I don't decorate my house, but I do a cost

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Speaker 2: Jessica for her Halloween cookies. Yes, I want pictures of

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Speaker 2: her house decorations. What did you do with your pumpkins

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Speaker 2: this year? What activities are you doing with your friends?

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Speaker 2: Because jess like carve pumpkins. That's really cute. But I

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Speaker 2: just want to know about it and absolutely apply it.

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Speaker 2: You're doing.

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Speaker 3: God's honestly good.

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Speaker 2: My husband's complaining about cutting grass and I'm complaining about

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Speaker 2: not that much.

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Speaker 3: So like life is good that for you.

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Speaker 2: But before we get into our money wins and confessions,

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Speaker 2: miss just Gricci and Beck, I mean you get to

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Speaker 2: listen to them.

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Speaker 3: Thank you a five star review?

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Speaker 4: Yes?

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Speaker 5: Please?

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Speaker 6: All right?

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Speaker 2: So this one is by Aim Jamo. I think that's

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Speaker 2: the right way to introduce this person's user name, and

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Speaker 2: they say five stars. Inspired loving the podcast, particularly Brooks

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Speaker 2: episode on investing cool. Brook didn't send me this, by

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Speaker 2: the way, I know she's already seen this. It really

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Speaker 2: inspired me to get started. I've always thought investing in

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Speaker 2: the share market was only for finance gurus, and now I.

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Speaker 3: Don't feel so overwhelmed.

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Speaker 5: That's lovely, And that episode Brook did was so good.

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Speaker 2: Ye just the fact that she was so transparent around

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Speaker 2: like what she owns and how she picked it. I

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Speaker 2: think that's the stuff, Like, that's the grit, that's the

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Speaker 2: stuff that we actually learned from because we do so

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Speaker 2: many episodes on like He's how to invest, Here's what

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Speaker 2: to do, and you're.

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Speaker 3: Kind of like, what are the people doing?

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Speaker 2: Not because you want to copy them, because that would

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Speaker 2: be silly, yea, because past performance is not a reliable

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Speaker 2: indicator of future performance, Miss Bess said, but because you go, oh, well,

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Speaker 2: if she can do it, well, I could do it

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Speaker 2: totally absolutely well, just girls, And it turns out it's

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Speaker 2: not that hard.

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Speaker 5: It's not once you figure it out.

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Speaker 2: No, we're amazing. So tell me more about this amazing community.

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Speaker 2: Miss Jess Green, she what's going on?

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Speaker 5: Alrighty, first of this week, I've got a money in

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Speaker 5: from Aunt who said I saved six hundred and thirty

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Speaker 5: six dollars by realizing an eight kilogram dryert was big

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Speaker 5: enough for our needs. They'd only been considering a nine

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Speaker 5: kilogram because their washing machine is nine kilogram. And they

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Speaker 5: said the best part is they paid for the dryer

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Speaker 5: by selling stuff around the house. They no longer needed

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Speaker 5: and still had some cash leftover.

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Speaker 4: Oh that's great.

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Speaker 3: I kind of just I never thought of that.

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Speaker 5: No, And it makes perfect sense that like a bigger

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Speaker 5: capacity one would be you know, quite a bit more expensive.

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Speaker 5: But it's just not something that it ever would cross

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Speaker 5: my mind.

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Speaker 2: I also don't put everything that I wash in the

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Speaker 2: dry out. Like I don't know about you guys, but

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Speaker 2: like I don't enjoy doing the washing because I like

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Speaker 2: put everything in the washing machine. I saw it by colors,

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Speaker 2: and if my husband tries, he doesn't sor by colors,

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Speaker 2: whole thing in our household. So I'm like doing all

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Speaker 2: my whites, but then my white jeans I wouldn't put

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Speaker 2: through the dryer. I'd like to shake it and hang up.

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Speaker 2: But then all of my white nickers, you know, straight

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Speaker 2: in the tumble dryer. Yeah, so like I end up

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Speaker 2: splitting it.

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Speaker 5: So genius.

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Speaker 2: I thought I could have saved money.

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Speaker 5: Well now and over next time.

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Speaker 6: Next.

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Speaker 5: I've got a money in from Anna who said she

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Speaker 5: was in at Melbourne for work last week with her

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Speaker 5: an all expenses paid trip and.

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Speaker 2: She didn't say hi, I know, so rude. Wow, she

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Speaker 2: thought we.

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Speaker 5: Were friends, and she said all I spent was her

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Speaker 5: fun money, and she was still under the limit because

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Speaker 5: obviously work paid for her meals and all those sorts

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Speaker 5: of things. She was down, she paused her gym membership,

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Speaker 5: so basically she just existed for free for a week.

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Speaker 3: That's so cool. Was like putting life on pause. Yeah,

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Speaker 3: that's really great.

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Speaker 1: Great.

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Speaker 5: Next, I've got money in from Caara, who said it

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Speaker 5: pays to ask her internet router died and she ended

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Speaker 5: up chatting to tech support from the internet provider. A

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Speaker 5: new router and mesh system was going to cost her

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Speaker 5: four hundred and eighty dollars. She asked them if she

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Speaker 5: could use the existing mesh system that she already had,

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Speaker 5: and the company helped her to set it up, which

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Speaker 5: meant she didn't need to buy anything new at all.

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Speaker 2: The hell is a meshte I have no idea, but

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Speaker 2: if she's saving money I need.

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Speaker 5: I think it extends the Wi Fi. This is something

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Speaker 5: my boyfriend spoke to me about and I just went

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Speaker 5: a huh uh, huh, you just I'll just transfer the money. Yeah,

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Speaker 5: but I think it like extends how far the Wi

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Speaker 5: Fi reaches.

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Speaker 2: I have no idea what that means, but I'm very

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Speaker 2: excited that you're saving yannny by asking questions. Great that

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Speaker 2: it was free.

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Speaker 5: So I've got a money in from Christa, who said

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Speaker 5: she was invited to model a dress which was made

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Speaker 5: of recycled materials for a sustainability conference.

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Speaker 2: Oh that's cute, too fine, very special.

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Speaker 5: In return, she got to attend the whole day conference

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Speaker 5: for free, and she got to use her professional development

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Speaker 5: leave from her workplace.

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Speaker 2: Oh good, how exciting.

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Speaker 5: Yeah, the conference, it only costs two hundred and ninety

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Speaker 5: five dollars, and because she used her professional development leave,

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Speaker 5: she was paid to be there. And she said, on

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Speaker 5: top of that, it's something she's really passionate about, so

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Speaker 5: she could spend the day learning.

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Speaker 2: That is actually so yeah, I would wear a dress

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Speaker 2: in front of everybody. I don't even care what it

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Speaker 2: looks like for you.

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Speaker 3: Five dollars.

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Speaker 5: And last of this week, I've got money in from Natalie,

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Speaker 5: who said she recently fell in love with iced lavender

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Speaker 5: marcher lates.

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Speaker 2: Now that's even more agriculture. That's been putting more agriculture

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Speaker 2: in the agriculture drink.

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Speaker 5: And how many fans can we get in there? Absolutely not,

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Speaker 5: she said, Normally they're eight to ten dollars a cup,

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Speaker 5: which is crazy. She said it was a special occasion

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Speaker 5: drink only, but after chaving her barista, they told her

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Speaker 5: that she could buy a whole bottle of the lavender

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Speaker 5: syrup from them for eighteen dollars. Combined with twelve dollars

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Speaker 5: fifty of much powder from coal, she can now make

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Speaker 5: her favorite drink for seventy six cents, and she said

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Speaker 5: she gets to feel like a smug bug drinking it

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Speaker 5: at home whenever she ugs.

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Speaker 2: I that for you, Like, I just want people to

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Speaker 2: be happy, but I just that's one of the things

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Speaker 2: I can't wrap my head around. Like there are a

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Speaker 2: lot of things like I maybe need to make a

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Speaker 2: TikTok of like people I just don't resonate with it.

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Speaker 2: Would drink Marcher for enjoyment is black number one?

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Speaker 4: I think you would suck to realize after you know,

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Speaker 4: lots of trial and error ordering different coffees as you

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Speaker 4: grow up, and be like, damn, I actually the one

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Speaker 4: I like is eleven dollars every single day.

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Speaker 3: It would be really because I know that like Jess, right,

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Speaker 3: you and I coffee fiends.

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Speaker 2: Oh yeah, but like Jess thinks coffee is disgusting, So

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Speaker 2: like maybe she's a much a girly and we're not

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Speaker 2: like it's it's not because it's actually bad, it's just

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Speaker 2: because I'm obinionated and probably shouldn't be on topics that

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Speaker 2: make other people happy. But you live, love, laugh through

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Speaker 2: all of that. Really, But my favorite coffee is a

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Speaker 2: mont Blanc what is that? Which is a iced coffee.

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Speaker 2: It's an iced black coffee and it usually has like

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Speaker 2: an orange syrup in it, and it has a like

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Speaker 2: cold foam on top, so like a cream vanilla cold

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Speaker 2: foam usually, and then it's usually topped with nutmeg. And

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Speaker 2: like my husband cannot think of anything worse. He's like,

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Speaker 2: why are you drinking a Terry's Chocolate orange? And like

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Speaker 2: if you had a Terry's Chocolate orange, oh, that is

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Speaker 2: an elite experience that she should not be saved for

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Speaker 2: Christmas Terry's chocol orange for all years, I say, but he.

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Speaker 3: Says, that's disgusting. So like, I get it. That's a

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Speaker 3: really expensive You.

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Speaker 5: Get some orange syrup and do it yourself.

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Speaker 3: You could, you really could sound the same.

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Speaker 5: Well, I mean this is the thing.

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Speaker 2: She got it direct from the people, direct from Domingo. Yeah,

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Speaker 2: is good.

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Speaker 4: Let's not let's not sleep afrigado?

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Speaker 3: Is that hits different?

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Speaker 4: God hits different.

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Speaker 2: We don't even need liqueur liquor whatever they call it,

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Speaker 2: because you know how sometimes people put the ice cream

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Speaker 2: and then the shot of coffee and then like Frangellico

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Speaker 2: or maybe some like Kolua or Bailey's or something.

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Speaker 3: I don't even need that. I just need the ice cream.

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Speaker 4: Yeah, actually, just ice cream is good.

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Speaker 2: I think actually Jess would be on board ice cream

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Speaker 2: or like a strawberry.

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Speaker 5: So I refresh eye is what I was gonna say.

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Speaker 5: If anyone has the in for that, I loved by.

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Speaker 3: I don't have that. But when there is a will,

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Speaker 3: there is a way.

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Speaker 2: But did you see that girl complete side note, who

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Speaker 2: got sued by or threatened to be sued by Starbucks

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Speaker 2: because on TikTok she was sharing all their recipes. It

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Speaker 2: kind of makes sense they probably didn't want that distributed,

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Speaker 2: but there are a lot of people that screenshot it

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Speaker 2: then put it on Reddit. If hypothetically you're looking for it, Wow,

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Speaker 2: you wouldn't because we wouldn't take advantage of national corporations

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Speaker 2: like that.

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Speaker 5: Definitely not.

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Speaker 3: Oh no, anyway, that was a very good.

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Speaker 2: Wrap Jess, and sorry for my random tangent. Tangent, miss

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Speaker 2: tell me about your broke tips. So my first one

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Speaker 2: comes from Jess Ricky.

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Speaker 3: Sorry, we've just been crowdsourcing from our own.

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Speaker 4: Because I was rush today and well I was and

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Speaker 4: I just didn't prepare. And then Jess Ricky walked in

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Speaker 4: with a tablecloth for a pant. I don't know if

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Speaker 4: you can tell.

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Speaker 2: But tell their table If you say Jess walked in

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Speaker 2: with tablecloth for pants, I think people are going to

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Speaker 2: be like giving a wind clothe, It's like you need help,

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Speaker 2: it's giving Adam and Eve. But that's not actually what

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Speaker 2: your pants look like. People started complimenting your pants and

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Speaker 2: you were like.

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Speaker 3: Guess what I made these tablecloth?

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Speaker 4: They look so well done.

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Speaker 5: I made my first pay I don't wear it a

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Speaker 5: podcast and nobody can see this, but I made the pain.

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Speaker 5: I'm wearing my very first pair of clothing or my

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Speaker 5: very first item of clothing that I've made.

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Speaker 3: I think they're so nice.

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Speaker 4: And did you have the tablecloth already or you already

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Speaker 4: had it?

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Speaker 2: Yeahstine dollars some came out.

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Speaker 5: It was nine dollars, but yeah, tablecloth. I've heard people

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Speaker 5: say like thrifted bed sheets are really good because you

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Speaker 5: can get.

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Speaker 4: Like linen and have you eaten on those?

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Speaker 5: No, I hadn't used it, which because they look so.

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Speaker 4: Clean, those spaghetti stains they really like color. Yeah, it's crazy. Well,

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Speaker 4: there's extremely impressive.

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Speaker 2: And so it goes to show that if you seen

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Speaker 2: a really expensive sewing machine, if you do all of

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Speaker 2: those things, you too could make pants out of nine

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Speaker 2: dollars tablecloths. But yes, sorry, can we just side note

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Speaker 2: tell me about your like little sewing classes because that was.

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Speaker 5: Also a money win. It needs a good break tip.

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Speaker 5: I think we've made this before, but it's through my

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Speaker 5: local council. You guys know I love.

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Speaker 1: A local.

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Speaker 5: Council does a bunch of like upskilling courses. So there

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Speaker 5: was sewing, cake decorating. There's also a lot of like

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Speaker 5: language and maths ones and things like that. Obviously I

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Speaker 5: was like, not for me, boring, I want to do

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Speaker 5: something fun. But those are also very good available options,

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Speaker 5: and it's so cheap. It was fifty dollars for a

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Speaker 5: ten week course. And I've now learned to sew my

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Speaker 5: own pants.

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Speaker 4: That is really cool, very exciting.

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Speaker 3: Just found somebody who loves their local council.

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Speaker 4: Yeah, that's also great.

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Speaker 2: Name somebody who's like just so valued. I'm here being like,

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Speaker 2: why don't they pick the bins up on time? When

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Speaker 2: I called to ask for house plans, Why couldn't you

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Speaker 2: find them?

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Speaker 4: Yeah, that's true. So I really appreciate your take because

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Speaker 4: I feel like people only like counsel when their bins

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Speaker 4: aren't collected. They're beIN's broken and I never think to change.

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Speaker 4: So I think it's great.

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Speaker 3: Absolutely well.

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Speaker 5: They're only funded to do like lots of things for

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Speaker 5: the community, and I feel like nobody ever does look

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Speaker 5: for them. That's true to get true.

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Speaker 4: So you couldn't have sold your pant before the course.

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Speaker 5: I didn't know how I had the sewing machine, but

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Speaker 5: like I learned, and I made a lot of mistakes

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Speaker 5: making them, so I was very glad there was someone there.

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Speaker 2: Did you have an I feel like that's they It's

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Speaker 2: said to be mistake.

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Speaker 5: And the fabric is not perfect for because I was

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Speaker 5: the tablecloth. It's not perfect for clothing, but I just

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Speaker 5: had it and I liked it, and so I messed

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Speaker 5: something up. I had it unpack the whole leg and

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Speaker 5: another girl in my class, bless her was like, you're

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Speaker 5: going to be here all night. So she took the

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Speaker 5: other end of the pants and we're like, do you

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Speaker 5: love lady in the traps?

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Speaker 2: I would have been there all night.

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Speaker 5: Thank goodness for her.

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Speaker 4: Oh God, I love that. It is so wholesome, whole

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Speaker 4: love that so much.

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Speaker 3: What else have you got back?

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Speaker 4: So thank you, Jess. The sext one comes from Amma,

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Speaker 4: who says I called up my bank and asked them

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Speaker 4: to put me onto the promo interest rate for the

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Speaker 4: savings account. Now that it's finally growing. A few minutes

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Speaker 4: on the phone and it's done for the next three months.

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Speaker 3: What three months?

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Speaker 4: Yeah, So I say, keep on top of a few things,

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Speaker 4: local council website and also bank interest promo rates. You know,

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Speaker 4: sometimes your your bab and like.

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Speaker 2: You don't get that's what Jess was telling us before.

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Speaker 4: Yes, And sometimes you'll see your own bank like for

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Speaker 4: new people you get this promo whatever, and you're like,

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Speaker 4: I've been here sitting waiting being patient to the new people,

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Speaker 4: which cracks doesn't pay.

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Speaker 3: We aren't loyal, does it?

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Speaker 6: No?

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Speaker 4: And so I think in these kind of situations as well,

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Speaker 4: you probably could call up and be like, hey, did

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Speaker 4: you forget about me, and then.

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Speaker 2: Did Mike Taylor up?

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Speaker 3: What's the worst thing that could happen? She just doesn't

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Speaker 3: answer exactly, And then.

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Speaker 4: My broke tip. I've recently gotten into ringmaking, and.

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Speaker 2: I've seen on TikTok. Sorry, not even on TikTok. I

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Speaker 2: don't even know if you're on TikTok sometimes but mainly

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Speaker 2: sometimes mainly Instagram. Yeah, I've seen your videos on Instagram. Guys,

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Speaker 2: if you're not following back and you want some more

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Speaker 2: rogue content in your life, you never guess what comes

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Speaker 2: next on her Instagram stories. Thank you? Is that sweet?

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Speaker 2: Like I think it's great because like sometimes I'm like, oh,

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Speaker 2: look she's hanging out with her girlfriend.

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Speaker 3: That's so cute. Oh look she's making pottery. What I

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Speaker 3: didn't even know you made jewelry.

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Speaker 2: Where is this coming?

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Speaker 6: I know?

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Speaker 4: This was just like I don't know where a camera

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Speaker 4: ei love.

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Speaker 2: Oh she's making a video with no pants on for

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Speaker 2: a company in Brunswick. Oh okay, no worries.

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Speaker 3: Like that is wild.

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Speaker 4: They're so sweet.

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Speaker 7: Thank you.

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Speaker 3: I follow you tenaciously.

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Speaker 4: And you are like you boost me like no one

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Speaker 4: else like I know that you will be You'll be

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Speaker 4: in the comments you'll be in the likes.

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Speaker 3: I'm always at DMS need that I'm in your comments.

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Speaker 3: I'd like, I love it. I am obsessed.

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Speaker 4: I love it, thank you so much. But with silver rings,

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Speaker 4: so I kind of was googling it for ages and

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Speaker 4: I realized, like on Etsy and stuff, you can get

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Speaker 4: whole kits for like one hundred and fifty bucks, which

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Speaker 4: is like, so.

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Speaker 2: That's cheaper than most of my hobbies.

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Speaker 4: Yeah, it's like fine. But instead I went and there's

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Speaker 4: actually this jeweler or jewelry store in Melbourne. I'm sure

402
00:16:48,880 --> 00:16:51,960
Speaker 4: there are equivalents elsewhere. It's called Kudak k o o

403
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Speaker 4: d ak, and you can get gemstones for literally like

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Speaker 4: from twenty six cents.

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Speaker 3: To like ten dollars. Yeah, and you'm natural.

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Speaker 4: I love sparkling.

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Speaker 3: Oh my god, I'm a bird.

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Speaker 4: I just love this. And then you can get silver clay,

409
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Speaker 4: and so you can get a five gram little bag

410
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Speaker 4: that is like thirty dollars. You can get them either

411
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Speaker 4: on eBay or at this actual place, which is it

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Speaker 4: looks like it's tiny, but it will make one ring.

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Speaker 4: So let's say, for example, you are making a ring

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Speaker 4: for someone for their birthday, and you get three gemstones

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Speaker 4: with twenty six cents and they are natural gemstones, maybe

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Speaker 4: they lab grown sometimes I don't understan why they're so cheap.

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Speaker 4: I don't really get it, but all crap in it

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Speaker 4: and I'm happy, absolutely, Like I made an opal and

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Speaker 4: the ruby one because that's mine name, make your friend's birthstones,

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Speaker 4: and literally like they were big. They were two dollars each,

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Speaker 4: two dollars twenty six each.

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Speaker 2: I can't believe it.

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Speaker 4: But anyway, so silver clay and then you literally just

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Speaker 4: fire it in your own house.

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Speaker 1: I do stove.

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Speaker 4: It's and it's super quick, it's super easy. It's so cheap.

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Speaker 4: And then when you if you give someone a hand

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Speaker 4: made read, I would cry, what gorgeous? And it's real

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Speaker 4: silver too, I have to know.

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Speaker 3: Crazy so with silver clay.

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Speaker 2: And this is maybe me thinking outside of the box

432
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Speaker 2: because like my mum is obsessed with that like fingerprint jewelry,

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Speaker 2: so like for one of her birthdays, we brought her

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Speaker 2: one of those beautiful I think it's from Lynden Cook

435
00:18:12,640 --> 00:18:14,040
Speaker 2: stunning necklaces.

436
00:18:14,160 --> 00:18:15,760
Speaker 3: She's got this like chunky silver necklace.

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00:18:15,800 --> 00:18:18,640
Speaker 2: She's got my sister's fingerprint, my fingerprint, my dad's print,

438
00:18:18,800 --> 00:18:20,960
Speaker 2: Like that's what she wanted. She thought it was very

439
00:18:21,040 --> 00:18:23,600
Speaker 2: very cute and I also love it, but like that

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Speaker 2: was not cheap. Could you put a fingerprint into the

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Speaker 2: silver clay?

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00:18:28,400 --> 00:18:29,040
Speaker 3: Absolutely?

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Speaker 2: That is to make your own, like I don't know,

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Speaker 2: little charms for necklaces or like rings with them.

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Speaker 5: Yeah, the pets too, with the pets nose print, that's.

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Speaker 2: So cute to see. Where are you You just get

447
00:18:40,720 --> 00:18:46,720
Speaker 2: a little book and then yeah, yeah that's someone's business idea,

448
00:18:46,840 --> 00:18:49,320
Speaker 2: but it rings that is the dog does a boot.

449
00:18:49,920 --> 00:18:52,560
Speaker 4: You could make like little dog tags with silver dog tags,

450
00:18:52,800 --> 00:18:55,920
Speaker 4: like lip collar, so cute. So you could do anything

451
00:18:55,960 --> 00:18:57,960
Speaker 4: with the silver clay. And it's you're meant to like

452
00:18:58,040 --> 00:19:00,359
Speaker 4: torch fire it, but I broke mine own how and

453
00:19:00,440 --> 00:19:01,840
Speaker 4: so I just literally do what over the stove. You

454
00:19:01,880 --> 00:19:03,280
Speaker 4: just get some tweezers, be careful.

455
00:19:03,119 --> 00:19:04,360
Speaker 5: And it turned it into actual metal.

456
00:19:04,480 --> 00:19:06,879
Speaker 4: It turns to actual silver. It is crazy because it

457
00:19:06,920 --> 00:19:09,199
Speaker 4: still looks white. You gotta like rub all the whiteness

458
00:19:09,240 --> 00:19:11,520
Speaker 4: off when it's done. But there's a point where you

459
00:19:11,680 --> 00:19:15,840
Speaker 4: touch anything with the clay, it sounds like clay, and

460
00:19:15,920 --> 00:19:18,520
Speaker 4: then you do that again later on and it starts

461
00:19:18,560 --> 00:19:21,000
Speaker 4: clinking and you're like it's turned to silver.

462
00:19:21,320 --> 00:19:24,679
Speaker 5: I love, like, so this is a team activity.

463
00:19:24,800 --> 00:19:26,080
Speaker 3: Yeah, it is activity.

464
00:19:27,600 --> 00:19:30,240
Speaker 5: So I that is my both the Gemstone place again

465
00:19:30,280 --> 00:19:33,359
Speaker 5: sorry kudak k o d a k. And it's like

466
00:19:33,440 --> 00:19:34,720
Speaker 5: going back in time, like you go in there and

467
00:19:34,720 --> 00:19:37,280
Speaker 5: it's very like paper bags and I don't know that

468
00:19:37,400 --> 00:19:37,760
Speaker 5: makes sense.

469
00:19:37,760 --> 00:19:38,560
Speaker 4: I'm really not killing you.

470
00:19:38,680 --> 00:19:40,560
Speaker 3: No, I'm obsessed. I'm obsessed.

471
00:19:40,600 --> 00:19:40,840
Speaker 1: I love.

472
00:19:41,520 --> 00:19:43,320
Speaker 2: Let's go to a really quick break, guys, because on

473
00:19:43,400 --> 00:19:46,400
Speaker 2: the flip side, we're going to be answering money dilemma.

474
00:19:46,520 --> 00:19:47,960
Speaker 2: Is it a good idea to use the equity in

475
00:19:48,040 --> 00:19:50,680
Speaker 2: your home to then buy a new car? And something

476
00:19:50,720 --> 00:19:53,160
Speaker 2: is slid into our dms about being asked to contribute

477
00:19:53,160 --> 00:19:55,359
Speaker 2: to a trust rather than gifts for a one year

478
00:19:55,400 --> 00:19:57,080
Speaker 2: old's birth date, which I think is going to get

479
00:19:57,520 --> 00:19:58,520
Speaker 2: a little bit divisive.

480
00:19:58,640 --> 00:20:00,320
Speaker 3: So guys, don't go any anywhere.

481
00:20:04,600 --> 00:20:06,960
Speaker 5: Welcome back, everybody. Let's take a listen to this six

482
00:20:07,119 --> 00:20:07,920
Speaker 5: money dilemma.

483
00:20:10,520 --> 00:20:12,840
Speaker 6: Hi, there, have you got a money dilemma you just

484
00:20:12,920 --> 00:20:13,440
Speaker 6: can't solve?

485
00:20:13,720 --> 00:20:15,800
Speaker 2: The She's on the Money team is here to help.

486
00:20:16,240 --> 00:20:19,200
Speaker 2: Every week we tackle your dilemmas, both big and small,

487
00:20:19,280 --> 00:20:22,320
Speaker 2: to answer your most burning money, career and life questions.

488
00:20:22,600 --> 00:20:25,080
Speaker 2: To get involved, simply head to our website and leave

489
00:20:25,160 --> 00:20:27,240
Speaker 2: us a short voice recording, and you might just find

490
00:20:27,280 --> 00:20:29,879
Speaker 2: yourself on the show. Now, let's take a listen to

491
00:20:30,040 --> 00:20:31,240
Speaker 2: this week's money dilemma.

492
00:20:33,359 --> 00:20:35,320
Speaker 7: Hi Shees on the money, I've got a question about

493
00:20:35,320 --> 00:20:37,680
Speaker 7: buying a new car. I'm purchasing a new car and

494
00:20:37,760 --> 00:20:40,280
Speaker 7: I've been looking at interest rates for car loans and

495
00:20:40,320 --> 00:20:43,800
Speaker 7: they're quite high. I currently have equity in my homelan

496
00:20:43,840 --> 00:20:45,840
Speaker 7: and I'm wondering if I should use that to purchase

497
00:20:45,880 --> 00:20:50,359
Speaker 7: a new car. My home loan is three hundred and

498
00:20:50,400 --> 00:20:52,719
Speaker 7: fifty thousand and the value of my property is one

499
00:20:52,760 --> 00:20:55,719
Speaker 7: point one million. Am I better off buying the car

500
00:20:55,960 --> 00:20:58,240
Speaker 7: using the equity in my house and therefore having a

501
00:20:58,359 --> 00:21:02,840
Speaker 7: lower interest against that loan, or should I just keep

502
00:21:02,880 --> 00:21:05,520
Speaker 7: the car and the house separate. If I take your

503
00:21:05,720 --> 00:21:07,600
Speaker 7: equity out of the house to purchase the car, I

504
00:21:07,720 --> 00:21:10,880
Speaker 7: do plan to make extra payments to pay that down,

505
00:21:11,240 --> 00:21:13,159
Speaker 7: but it would obviously be at a lower interest rate

506
00:21:13,280 --> 00:21:16,480
Speaker 7: than if I got a car with a car loan.

507
00:21:16,680 --> 00:21:18,040
Speaker 7: What are your thoughts? Thank you?

508
00:21:18,800 --> 00:21:20,119
Speaker 3: What in the wealth right?

509
00:21:20,359 --> 00:21:22,800
Speaker 2: Sorry? You're only only three hundred grand on a million

510
00:21:22,800 --> 00:21:26,920
Speaker 2: dollar property? Money? Wein well done? I want to know

511
00:21:27,080 --> 00:21:29,760
Speaker 2: before I could just dive in, but like, what do

512
00:21:29,840 --> 00:21:32,680
Speaker 2: you reckon Jess using your equity?

513
00:21:33,160 --> 00:21:35,480
Speaker 5: Yeah, it's just a bit out of a thworsh of our.

514
00:21:35,840 --> 00:21:38,720
Speaker 5: I think the argument does make sense that if it's

515
00:21:38,800 --> 00:21:41,600
Speaker 5: at a lower interest rate, then it would be on

516
00:21:41,680 --> 00:21:43,560
Speaker 5: a car loan. I guess a loan is a loan,

517
00:21:43,880 --> 00:21:46,760
Speaker 5: and you're rolling it into your home loan. I guess

518
00:21:46,840 --> 00:21:50,879
Speaker 5: the only thing would be I don't know how it

519
00:21:50,920 --> 00:21:53,280
Speaker 5: works when you use equity to make a purchase. It's

520
00:21:53,280 --> 00:21:56,160
Speaker 5: not a house. Obviously, the payment terms on your home

521
00:21:56,240 --> 00:22:00,440
Speaker 5: loan more often than not around thirty years, so I

522
00:22:00,480 --> 00:22:02,920
Speaker 5: don't know if they would automatically don't even need to

523
00:22:02,960 --> 00:22:06,719
Speaker 5: be here where my brain was going, so like, if

524
00:22:06,720 --> 00:22:09,080
Speaker 5: you're going to stretch the payment out over thirty years,

525
00:22:09,119 --> 00:22:11,280
Speaker 5: then obviously that's like a lot. But then she did

526
00:22:11,359 --> 00:22:13,240
Speaker 5: say that she was planning on making extra payments. I

527
00:22:13,280 --> 00:22:15,960
Speaker 5: don't really know how it works, Like I'm assuming it

528
00:22:16,160 --> 00:22:17,040
Speaker 5: just rolled into.

529
00:22:16,880 --> 00:22:17,640
Speaker 2: Your existing loan.

530
00:22:17,720 --> 00:22:19,359
Speaker 5: It's not like you've got two separate things that.

531
00:22:19,400 --> 00:22:22,600
Speaker 2: You don't you don't roll into existing ones. But how

532
00:22:22,600 --> 00:22:24,679
Speaker 2: are you feelings? Like if I had access to eight

533
00:22:24,800 --> 00:22:26,440
Speaker 2: hundred grand equity, I'd be spending it.

534
00:22:26,920 --> 00:22:30,520
Speaker 4: Yeah, but equities always confused me because what I was

535
00:22:30,680 --> 00:22:34,119
Speaker 4: told was that equity you can use that as a

536
00:22:34,200 --> 00:22:35,600
Speaker 4: deposit for a new house. But I didn't know you

537
00:22:35,640 --> 00:22:36,000
Speaker 4: could just like.

538
00:22:36,080 --> 00:22:38,320
Speaker 2: Spend, Well, you can release equity as cash. So what

539
00:22:38,480 --> 00:22:41,760
Speaker 2: happens is like I, as you guys know mortgage broking business.

540
00:22:42,160 --> 00:22:43,800
Speaker 2: We might have a client come to us and let's

541
00:22:43,880 --> 00:22:46,840
Speaker 2: use her exact example, Hey, I owe three hundred grand

542
00:22:46,920 --> 00:22:50,000
Speaker 2: on the property I have, you know, one point one

543
00:22:50,119 --> 00:22:53,480
Speaker 2: million dollar property, Like that's what it's worth. So we

544
00:22:53,560 --> 00:22:56,000
Speaker 2: would calculate that she has about eight hundred thousand dollars

545
00:22:56,040 --> 00:22:59,840
Speaker 2: worth of equity. Now she could access some of that

546
00:23:00,119 --> 00:23:03,560
Speaker 2: equity and buy a new property, So you could use

547
00:23:03,600 --> 00:23:04,960
Speaker 2: some of that as a house deposit.

548
00:23:05,320 --> 00:23:06,080
Speaker 3: Most banks just.

549
00:23:06,240 --> 00:23:09,200
Speaker 2: Require a reason why they're releasing some of that because

550
00:23:09,200 --> 00:23:12,399
Speaker 2: they've got basically your big asset. So the bank has

551
00:23:12,440 --> 00:23:14,879
Speaker 2: what's called a caveat over that one point one million

552
00:23:14,920 --> 00:23:17,680
Speaker 2: dollar properties. So if everything went south and they're like, well,

553
00:23:17,960 --> 00:23:21,200
Speaker 2: Beck didn't pay her loans back, we're going to sell

554
00:23:21,240 --> 00:23:24,200
Speaker 2: her house and get our cash back, they're not that worried, right,

555
00:23:24,520 --> 00:23:28,359
Speaker 2: but they do want justification as to why you're getting

556
00:23:28,400 --> 00:23:30,720
Speaker 2: that money out and lots of people will you know,

557
00:23:30,960 --> 00:23:33,360
Speaker 2: take equity out to you know, I would say, most

558
00:23:33,440 --> 00:23:36,960
Speaker 2: commonly buy another property, so use that cash to not

559
00:23:37,119 --> 00:23:39,640
Speaker 2: have to save another deposit to get into their next home.

560
00:23:40,200 --> 00:23:42,840
Speaker 2: Or they might use that equity to buy a caravan

561
00:23:43,440 --> 00:23:46,320
Speaker 2: or go on a holiday, or they might buy a car.

562
00:23:46,960 --> 00:23:50,439
Speaker 2: Whether that's the best financial decision is up for debate,

563
00:23:50,960 --> 00:23:54,520
Speaker 2: because you could look at it as Okay, well they've

564
00:23:54,560 --> 00:23:56,399
Speaker 2: got all of this equity, and like, let's pretend your

565
00:23:56,440 --> 00:23:58,560
Speaker 2: home loan is still sitting at like five percent, right,

566
00:23:59,320 --> 00:24:03,160
Speaker 2: that is much much lower as an interest rate if

567
00:24:03,200 --> 00:24:05,320
Speaker 2: you have to borrow money, like if you don't have

568
00:24:05,440 --> 00:24:09,480
Speaker 2: the cash to pay for the car outright, five percent

569
00:24:09,520 --> 00:24:12,120
Speaker 2: is a lot lower than asset finance rates, which could

570
00:24:12,160 --> 00:24:16,440
Speaker 2: be honestly anywhere between eight and fifteen percent usually, So

571
00:24:16,880 --> 00:24:19,520
Speaker 2: if you just look at the interest rate, you might go, well,

572
00:24:19,920 --> 00:24:20,520
Speaker 2: that's better.

573
00:24:21,240 --> 00:24:22,680
Speaker 3: And that's what most of our clients do.

574
00:24:22,800 --> 00:24:25,120
Speaker 2: And I'm not saying it's a bad thing, because if

575
00:24:25,200 --> 00:24:26,919
Speaker 2: we are purely looking at it from a.

576
00:24:27,000 --> 00:24:28,960
Speaker 3: Debt perspective, that's fine.

577
00:24:29,280 --> 00:24:31,600
Speaker 2: But she is definitely on the right track because when

578
00:24:31,640 --> 00:24:34,399
Speaker 2: we do this for clients, we do make the recommendation

579
00:24:34,520 --> 00:24:37,520
Speaker 2: that you make additional payments because that equity is going

580
00:24:37,600 --> 00:24:39,040
Speaker 2: to be paid off over thirty years.

581
00:24:39,160 --> 00:24:41,000
Speaker 3: And like, if your home loan is.

582
00:24:41,720 --> 00:24:45,520
Speaker 2: Like twenty to thirty years left and you're borrowing fifty grand,

583
00:24:45,560 --> 00:24:48,400
Speaker 2: you're potentially paying that off for decades, which means, even

584
00:24:48,440 --> 00:24:51,199
Speaker 2: though it's a lower interest rate right now, it might

585
00:24:51,359 --> 00:24:53,960
Speaker 2: mean paying like eighty to one hundred thousand dollars in

586
00:24:54,200 --> 00:24:56,879
Speaker 2: interest over the life of the loan, which then you go, well,

587
00:24:56,960 --> 00:24:59,880
Speaker 2: that's dumb. Even though it feels like it's a money win,

588
00:25:00,040 --> 00:25:02,719
Speaker 2: it's not. So what I would do is calculate, well,

589
00:25:02,800 --> 00:25:06,240
Speaker 2: what monthly repayment could I afford for this car? Yes,

590
00:25:06,280 --> 00:25:08,600
Speaker 2: I'm going to build it into the equity of my home. Yes,

591
00:25:08,680 --> 00:25:10,840
Speaker 2: you're right, Jess in terms of it's not a separate loan,

592
00:25:10,920 --> 00:25:13,240
Speaker 2: it's just like additional But I'd be trying to pay

593
00:25:13,320 --> 00:25:16,240
Speaker 2: off that additional in like three to five years instead

594
00:25:16,280 --> 00:25:18,800
Speaker 2: of over thirty just to make sure that you're not

595
00:25:18,880 --> 00:25:22,480
Speaker 2: getting stung with the long term interest repayments, which over

596
00:25:22,520 --> 00:25:25,159
Speaker 2: a long time do actually add up what amount of

597
00:25:25,160 --> 00:25:29,080
Speaker 2: money fifty grand inequity on that property is genuinely going

598
00:25:29,160 --> 00:25:31,520
Speaker 2: to probably cost over like a thirty year period.

599
00:25:31,560 --> 00:25:32,920
Speaker 3: Another eighty tw one hundred.

600
00:25:32,720 --> 00:25:36,920
Speaker 2: Thousand dollars, which is obviously worse than the high interest

601
00:25:37,000 --> 00:25:39,280
Speaker 2: home loan over five years. Yeah, so you need to

602
00:25:39,320 --> 00:25:41,119
Speaker 2: make sure that you're making the right decision, not just

603
00:25:41,160 --> 00:25:44,240
Speaker 2: going well it's less interest, that's a better deal.

604
00:25:44,400 --> 00:25:44,520
Speaker 5: Right.

605
00:25:45,000 --> 00:25:47,280
Speaker 2: So I think that you would take, I would say,

606
00:25:47,640 --> 00:25:53,560
Speaker 2: a more balanced approach of well, I want a new car. Yes, great,

607
00:25:53,680 --> 00:25:56,480
Speaker 2: that's the decision we've made. How are we now going

608
00:25:56,560 --> 00:26:00,200
Speaker 2: to finance that? Can you afford additional repayments? And this

609
00:26:00,280 --> 00:26:02,440
Speaker 2: person has said yes they can, But if you can't,

610
00:26:02,640 --> 00:26:04,280
Speaker 2: I don't want you going to just take out more

611
00:26:04,320 --> 00:26:06,080
Speaker 2: equity and then being like, well it does a matter,

612
00:26:06,119 --> 00:26:08,359
Speaker 2: I'll pay it off over thirty years. Like that's going

613
00:26:08,400 --> 00:26:10,680
Speaker 2: to shoot you financially in the foot. So I think

614
00:26:10,720 --> 00:26:12,520
Speaker 2: I'm a bit conservative when it comes to that. But

615
00:26:12,640 --> 00:26:14,880
Speaker 2: like the reason I'm conservative is because I just don't

616
00:26:14,880 --> 00:26:16,399
Speaker 2: want you in more debt than you need to be in.

617
00:26:16,680 --> 00:26:19,960
Speaker 4: No. Absolutely, yeah, Well with equity is that I thought

618
00:26:20,000 --> 00:26:22,199
Speaker 4: it was like the amount that is a Let's say

619
00:26:22,200 --> 00:26:24,280
Speaker 4: you buy a house for five hundred thousand dollars and

620
00:26:24,280 --> 00:26:26,240
Speaker 4: then it's worth a million dollars later, you have five

621
00:26:26,320 --> 00:26:28,960
Speaker 4: hundred thousand dollars in equity. But equity in fact is

622
00:26:29,240 --> 00:26:31,560
Speaker 4: what I'm learning here is how much you've paid off.

623
00:26:31,960 --> 00:26:35,440
Speaker 2: No, not necessarily. So say I spend five hundred thousand

624
00:26:35,480 --> 00:26:38,440
Speaker 2: dollars on house, Yeah, and then I have my little

625
00:26:38,520 --> 00:26:40,919
Speaker 2: twenty percent deposit, which is a lot. I've got one

626
00:26:41,000 --> 00:26:43,520
Speaker 2: hundred thousand dollars in deposit right now, I have no

627
00:26:43,640 --> 00:26:46,280
Speaker 2: equity because when I look at the property value, it's

628
00:26:46,280 --> 00:26:49,720
Speaker 2: worth five hundred thousand dollars. The equity technically would be

629
00:26:49,840 --> 00:26:52,320
Speaker 2: that twenty percent deposit, but you can't use it because.

630
00:26:52,160 --> 00:26:53,320
Speaker 3: You've already paid for it.

631
00:26:53,440 --> 00:26:56,440
Speaker 2: Yes, Then a year later, I get my house revalued

632
00:26:56,440 --> 00:26:59,320
Speaker 2: and it's worth six hundred thousand dollars. I've now got

633
00:26:59,359 --> 00:27:02,879
Speaker 2: another hundred two thousand dollars because I've had my twenty percent,

634
00:27:02,960 --> 00:27:06,520
Speaker 2: and there's now thirty percent or more equity in that.

635
00:27:06,880 --> 00:27:09,400
Speaker 2: And I can actually use that cash or that value,

636
00:27:09,560 --> 00:27:11,800
Speaker 2: not necessarily what you've paid off, but that value in

637
00:27:11,920 --> 00:27:15,920
Speaker 2: that property to leverage you into other assets. So it's

638
00:27:15,960 --> 00:27:18,440
Speaker 2: not necessarily what you've had to pay off, but it

639
00:27:18,560 --> 00:27:20,240
Speaker 2: can be. So like if you paid off a heap

640
00:27:20,280 --> 00:27:23,399
Speaker 2: of your mortgage and you only owed a in this

641
00:27:23,600 --> 00:27:26,120
Speaker 2: listener's situation three hundred grand and on a million dollar

642
00:27:26,160 --> 00:27:28,320
Speaker 2: probably she's got a lot of equity. Maybe, and we

643
00:27:28,440 --> 00:27:31,639
Speaker 2: don't know her financial situation. What if she bought that

644
00:27:31,720 --> 00:27:33,840
Speaker 2: house for three hundred grand and then she just like

645
00:27:34,320 --> 00:27:36,680
Speaker 2: bought an absolute gem and it's scored up to a

646
00:27:36,720 --> 00:27:40,680
Speaker 2: million dollars. Or she could be the biggest best hustler

647
00:27:40,760 --> 00:27:43,000
Speaker 2: saver we've ever seen. She paid eight hundred grand off,

648
00:27:43,520 --> 00:27:45,000
Speaker 2: do you know what I mean? So, like it could

649
00:27:45,080 --> 00:27:49,240
Speaker 2: mean both things. But equity is accessible cash or capital

650
00:27:49,320 --> 00:27:52,280
Speaker 2: that exists in a secure asset that you can then

651
00:27:52,440 --> 00:27:54,320
Speaker 2: use for other funding purposes.

652
00:27:54,880 --> 00:27:55,480
Speaker 4: Like how it's.

653
00:27:55,359 --> 00:27:57,960
Speaker 5: Shares, you know, how you say, oh, my sharre's worth

654
00:27:58,000 --> 00:28:00,600
Speaker 5: a dollar, but it's only worth that if you sell it,

655
00:28:01,200 --> 00:28:03,879
Speaker 5: if you actualize the cost, your house is worth that

656
00:28:04,080 --> 00:28:05,560
Speaker 5: if you were to sell it, and.

657
00:28:05,600 --> 00:28:08,200
Speaker 2: The bank looks at that and says, well, the house

658
00:28:08,320 --> 00:28:10,159
Speaker 2: is worth a million dollars if we were to sell it.

659
00:28:10,280 --> 00:28:14,399
Speaker 2: So it's pretty comfortable if we gave Beck another fifty grand,

660
00:28:14,560 --> 00:28:17,920
Speaker 2: because ultimately, if she stopped paying her mortgage, we'd sell

661
00:28:17,960 --> 00:28:20,280
Speaker 2: her house out from underneath her and we'd get our

662
00:28:20,320 --> 00:28:20,760
Speaker 2: cash back.

663
00:28:20,840 --> 00:28:22,840
Speaker 3: So we kind of just don't mind as much, which

664
00:28:22,840 --> 00:28:24,800
Speaker 3: is why the interest rate is lower.

665
00:28:24,720 --> 00:28:28,480
Speaker 2: Because that's what's called a secured asset, because there's something

666
00:28:28,880 --> 00:28:31,199
Speaker 2: that the bank has this caveat over that they can

667
00:28:31,240 --> 00:28:34,240
Speaker 2: sell to get their money back, whereas unsecured debt, which

668
00:28:34,280 --> 00:28:36,840
Speaker 2: is where they go, oh, bet, shelves your income, shells

669
00:28:36,880 --> 00:28:39,440
Speaker 2: your assets. You seem like a nice person will give

670
00:28:39,440 --> 00:28:42,680
Speaker 2: you a loan. Well what happens if you got that

671
00:28:42,800 --> 00:28:45,800
Speaker 2: car stolen and it wasn't insured. Yeah, they can't sell

672
00:28:45,880 --> 00:28:47,560
Speaker 2: the car, so it's unsecured.

673
00:28:47,800 --> 00:28:48,160
Speaker 3: I see.

674
00:28:48,560 --> 00:28:51,960
Speaker 2: So there's unsecured and secured debts, and unsecured debt is

675
00:28:52,000 --> 00:28:54,000
Speaker 2: always going to be more expensive, which is why a

676
00:28:54,040 --> 00:28:56,520
Speaker 2: lot of people look at their equity in a pretty

677
00:28:56,600 --> 00:28:57,520
Speaker 2: favorable way.

678
00:28:57,760 --> 00:28:59,800
Speaker 4: I see, I see. Well, thank you for that very

679
00:29:00,520 --> 00:29:02,840
Speaker 4: informative and educational response.

680
00:29:03,000 --> 00:29:04,719
Speaker 2: Well, I don't know if this is going to get

681
00:29:04,760 --> 00:29:06,560
Speaker 2: better or worse. If I ask you, guys, do you

682
00:29:06,640 --> 00:29:10,760
Speaker 2: want to hear our listener dilemma from this week? But

683
00:29:11,000 --> 00:29:12,520
Speaker 2: I think it's going to be a little bit douicy

684
00:29:12,560 --> 00:29:14,240
Speaker 2: because I can't wait to see. And this is one

685
00:29:14,280 --> 00:29:16,080
Speaker 2: of those ones where I'm like, I don't know.

686
00:29:16,160 --> 00:29:18,640
Speaker 3: What you're going to say. So we got a DM

687
00:29:18,720 --> 00:29:19,600
Speaker 3: this week. Are you ready?

688
00:29:20,520 --> 00:29:22,680
Speaker 2: Hi, She's on the money. We were recently invited to

689
00:29:22,720 --> 00:29:25,960
Speaker 2: a first birthday party. In lieu of gifts, the parents

690
00:29:26,000 --> 00:29:30,360
Speaker 2: have asked guests to contribute to the Birthday Babies Trust account.

691
00:29:30,920 --> 00:29:33,080
Speaker 2: This is the first time I've come across this as

692
00:29:33,080 --> 00:29:35,720
Speaker 2: an idea. Is this a new norm now? I'm not

693
00:29:35,760 --> 00:29:37,800
Speaker 2: sure how I feel about it. On one hand, the

694
00:29:37,840 --> 00:29:40,440
Speaker 2: financial landscape is going to be hard enough for our children,

695
00:29:40,680 --> 00:29:43,200
Speaker 2: so whatever we can do to help. But on the

696
00:29:43,360 --> 00:29:46,640
Speaker 2: other hand, would love to know what you guys think.

697
00:29:47,200 --> 00:29:51,200
Speaker 4: M I feel like they're like, contribute to the party

698
00:29:51,280 --> 00:29:55,000
Speaker 4: that we're throwing, or contribute to There's something about specifically

699
00:29:55,480 --> 00:29:58,560
Speaker 4: contribute to my child's future.

700
00:29:59,480 --> 00:30:01,400
Speaker 2: I think like as long as.

701
00:30:01,640 --> 00:30:05,360
Speaker 4: Everyone is comfortable with some people putting in literally like

702
00:30:05,760 --> 00:30:07,480
Speaker 4: three dollars, Like right now, if someone asked me to

703
00:30:07,560 --> 00:30:10,080
Speaker 4: contribute to something, I'd be like, I literally have two

704
00:30:10,200 --> 00:30:12,880
Speaker 4: dollars to give you, and and that has to be

705
00:30:13,000 --> 00:30:17,680
Speaker 4: treated with the exact same level of respect and gratefulness

706
00:30:17,960 --> 00:30:21,760
Speaker 4: as one hundred thousand dollars. It's about like what you

707
00:30:21,920 --> 00:30:24,680
Speaker 4: can do, what you can afford to bring to the table.

708
00:30:24,880 --> 00:30:27,160
Speaker 4: If it's like a present, you can kind of get

709
00:30:27,160 --> 00:30:29,720
Speaker 4: away with hiding. If you don't have the money, you

710
00:30:29,800 --> 00:30:31,720
Speaker 4: can just repurpose something in your house. You can, like

711
00:30:32,320 --> 00:30:33,960
Speaker 4: there are ways to do it without actually spending any

712
00:30:33,960 --> 00:30:35,400
Speaker 4: money at all. Yeah, but if someone's like, can you

713
00:30:35,480 --> 00:30:39,280
Speaker 4: contribute financially, then that's like, well, that's really exposes people

714
00:30:39,360 --> 00:30:41,200
Speaker 4: that literally cannot do that.

715
00:30:41,400 --> 00:30:43,040
Speaker 3: So I don't I totally agree.

716
00:30:43,120 --> 00:30:45,920
Speaker 2: Yeah, Like I don't like that hypothetical though, please because

717
00:30:45,960 --> 00:30:48,400
Speaker 2: I would love to know rather than like, is this

718
00:30:48,640 --> 00:30:51,240
Speaker 2: and like, I get it, everyone's in a different financial situation,

719
00:30:51,440 --> 00:30:53,680
Speaker 2: and I think as a podcast we always address that.

720
00:30:54,040 --> 00:30:57,240
Speaker 2: But like, hypothetically you've got twenty bucks, and like I don't,

721
00:30:57,480 --> 00:30:59,680
Speaker 2: I don't know for a first birthday party, like I

722
00:30:59,680 --> 00:31:04,240
Speaker 2: would say presence of twenty to fifty bucks, Like depending

723
00:31:04,280 --> 00:31:06,480
Speaker 2: on what you're doing. If you're spending more than that,

724
00:31:06,600 --> 00:31:08,560
Speaker 2: pop off queen, but like I would say twenty to

725
00:31:08,600 --> 00:31:12,160
Speaker 2: fifty bucks. Let's pretend you've got twenty dollars. If somebody

726
00:31:12,320 --> 00:31:14,080
Speaker 2: if you were invited to, like, let's pretend it's my

727
00:31:14,160 --> 00:31:17,040
Speaker 2: son Harvey. I said, Beck, come to Harvey's birthday party.

728
00:31:17,120 --> 00:31:20,120
Speaker 2: And then on the invite, I said, could you contribute

729
00:31:20,160 --> 00:31:22,840
Speaker 2: to his trust account instead of you know, bringing a

730
00:31:22,960 --> 00:31:26,200
Speaker 2: gift and you've got twenty bucks to spend. Are you

731
00:31:26,480 --> 00:31:29,120
Speaker 2: happy spending that and just putting it into his trust

732
00:31:29,160 --> 00:31:31,320
Speaker 2: account or would you prefer to bring a present or like,

733
00:31:31,800 --> 00:31:33,560
Speaker 2: you know, were you never going to bring a present?

734
00:31:33,760 --> 00:31:34,920
Speaker 3: Like what does that look like?

735
00:31:35,480 --> 00:31:38,840
Speaker 4: I guess in that situation with the twenty dollars, I

736
00:31:38,880 --> 00:31:40,800
Speaker 4: would be like, I'm going to stretch this and I'm

737
00:31:40,840 --> 00:31:42,360
Speaker 4: going to find some I'm going to make like a

738
00:31:42,400 --> 00:31:46,280
Speaker 4: little hamper of cute toys and it will be very impactful.

739
00:31:46,600 --> 00:31:48,920
Speaker 4: But if you wanted that instead me to put that

740
00:31:48,960 --> 00:31:51,480
Speaker 4: into his trust fund, I would the only thing. And

741
00:31:51,560 --> 00:31:53,920
Speaker 4: this is probably me projecting, and I'm sure everyone.

742
00:31:53,800 --> 00:31:54,560
Speaker 3: No, that's what I want.

743
00:31:54,640 --> 00:31:57,400
Speaker 2: That's why I'm asking you if you had twenty bucks.

744
00:31:57,280 --> 00:31:58,760
Speaker 4: Well, this is this is where. This is where I

745
00:31:58,800 --> 00:31:59,480
Speaker 4: want the projection.

746
00:31:59,560 --> 00:32:00,400
Speaker 3: I want the thoughts.

747
00:32:00,880 --> 00:32:02,520
Speaker 4: This is the thing that gets tricken. I feel like

748
00:32:02,520 --> 00:32:05,440
Speaker 4: everyone who's maybe broken up poor or who sorry, or

749
00:32:05,560 --> 00:32:08,640
Speaker 4: anyone who's grown up or or is has been poor

750
00:32:08,720 --> 00:32:10,840
Speaker 4: later in life or whatever that is there's a feeling

751
00:32:11,200 --> 00:32:13,440
Speaker 4: of insecurity that should not be there, that is socialized,

752
00:32:13,520 --> 00:32:15,600
Speaker 4: that is like a taught to us, but which should

753
00:32:15,640 --> 00:32:18,480
Speaker 4: not be there. But it's unfortunately still there. So if

754
00:32:18,480 --> 00:32:20,920
Speaker 4: you said, if we all showed up with a present,

755
00:32:21,080 --> 00:32:23,920
Speaker 4: everyone would feel equal. Now it's trust fun Now you

756
00:32:24,040 --> 00:32:26,280
Speaker 4: can see that I've only given twenty dollars. Now I

757
00:32:26,480 --> 00:32:30,120
Speaker 4: feel like really embarrassed visible and it's very visible, and

758
00:32:30,160 --> 00:32:32,440
Speaker 4: it's very like you can't really hide that. And unfortunately,

759
00:32:32,520 --> 00:32:34,440
Speaker 4: like same with like at weddings when you have to

760
00:32:34,480 --> 00:32:37,120
Speaker 4: give money the cash, and it's like, well, now I'm

761
00:32:37,160 --> 00:32:40,080
Speaker 4: spending way more than I actually was going to. But

762
00:32:40,160 --> 00:32:43,640
Speaker 4: if I don't, then I'm exposing myself as But it's

763
00:32:43,760 --> 00:32:46,040
Speaker 4: it's if you take away all the emotion and the

764
00:32:46,200 --> 00:32:50,000
Speaker 4: shame that you might feel, and the projecting this insecurity,

765
00:32:50,080 --> 00:32:51,760
Speaker 4: like maybe you won't feel any of those things. Maybe

766
00:32:51,800 --> 00:32:54,240
Speaker 4: you're surrounded by people who can afford the exact same

767
00:32:54,440 --> 00:32:56,960
Speaker 4: as you. If you take all that away, it's still

768
00:32:57,040 --> 00:32:58,920
Speaker 4: like funny to like, I don't know, maybe ask for

769
00:32:59,000 --> 00:33:02,040
Speaker 4: money is like it's more useful than a gift sometimes,

770
00:33:02,120 --> 00:33:04,320
Speaker 4: so I'm all for it, but I think there's just

771
00:33:04,400 --> 00:33:06,920
Speaker 4: like it's so layered and it's so risky and you

772
00:33:06,920 --> 00:33:09,720
Speaker 4: don't want to make someone feel like shit, So absolutely not,

773
00:33:09,960 --> 00:33:11,360
Speaker 4: That's kind of where I'm at.

774
00:33:11,840 --> 00:33:12,280
Speaker 3: I agree.

775
00:33:12,320 --> 00:33:15,720
Speaker 5: I think The big negative is the visibility of what

776
00:33:15,840 --> 00:33:17,960
Speaker 5: you're giving, because it's like you can give someone a

777
00:33:18,080 --> 00:33:20,800
Speaker 5: gift that is worth fifty dollars, but maybe I got

778
00:33:20,840 --> 00:33:23,200
Speaker 5: it on sale and I only paid ten dollars for it.

779
00:33:23,320 --> 00:33:24,240
Speaker 3: It's nobody's business.

780
00:33:24,320 --> 00:33:26,680
Speaker 5: It's absolutely it's nobody's business. And like the cost of

781
00:33:26,760 --> 00:33:30,160
Speaker 5: the gift is not quantifiable against the love with which

782
00:33:30,240 --> 00:33:32,480
Speaker 5: it is given. But I do agree that it is

783
00:33:32,880 --> 00:33:35,200
Speaker 5: like in that situation, it's like a very clear cut,

784
00:33:35,320 --> 00:33:37,680
Speaker 5: Oh well, Jess gave five dollars and someone else gave

785
00:33:37,720 --> 00:33:40,520
Speaker 5: fifty dollars and it's you know, I can I completely agree.

786
00:33:40,560 --> 00:33:43,160
Speaker 5: I think that is the big negative of it. The

787
00:33:43,320 --> 00:33:46,040
Speaker 5: positives on it, from my perspective, there's a couple. One

788
00:33:46,240 --> 00:33:48,240
Speaker 5: is someone who doesn't have kids got it's so much

789
00:33:48,320 --> 00:33:50,200
Speaker 5: easier to just give them money than to try and

790
00:33:50,200 --> 00:33:52,680
Speaker 5: figure out what to get them, you know, like agree

791
00:33:52,760 --> 00:33:53,280
Speaker 5: gift giver.

792
00:33:53,600 --> 00:33:56,200
Speaker 3: I try to be Jess. For Harvey's was it Christmas

793
00:33:56,440 --> 00:33:57,880
Speaker 3: or no, it's his first birthday.

794
00:33:58,000 --> 00:34:00,560
Speaker 2: You got him that train, so it was like a

795
00:34:00,640 --> 00:34:04,040
Speaker 2: Fisher Price train and it's his favorite, like he's obsessed

796
00:34:04,120 --> 00:34:05,880
Speaker 2: with it, like Twain.

797
00:34:05,760 --> 00:34:09,279
Speaker 3: Twain, Twain sang place at the time, all the time.

798
00:34:09,719 --> 00:34:12,640
Speaker 2: And also just to shout out to Jessica for getting

799
00:34:12,640 --> 00:34:14,520
Speaker 2: a toy that has buttons with lots of noise.

800
00:34:14,480 --> 00:34:14,959
Speaker 4: So good.

801
00:34:15,560 --> 00:34:16,759
Speaker 2: But I do get one that you can switch the

802
00:34:16,800 --> 00:34:18,480
Speaker 2: noise off, love you, but he knows how to turn

803
00:34:18,520 --> 00:34:18,680
Speaker 2: it on.

804
00:34:20,960 --> 00:34:22,799
Speaker 5: But yeah, so I think that, like it is hard,

805
00:34:23,000 --> 00:34:25,120
Speaker 5: especially as kids get older as someone who doesn't have kids,

806
00:34:25,239 --> 00:34:27,080
Speaker 5: and like, yes, you obviously can ask the parents. That's

807
00:34:27,120 --> 00:34:29,000
Speaker 5: usually what I'll do. Or you know, I knew that

808
00:34:29,080 --> 00:34:30,800
Speaker 5: my nephew really liked that presence, so I was like,

809
00:34:30,840 --> 00:34:33,480
Speaker 5: Harvey will probably like something similar. But it is like

810
00:34:33,760 --> 00:34:36,520
Speaker 5: so much easier to just go all right, here's the cash.

811
00:34:37,040 --> 00:34:39,200
Speaker 5: It is nice to know that it will contribute to

812
00:34:39,239 --> 00:34:41,440
Speaker 5: their future. We know, like we the three of us

813
00:34:41,600 --> 00:34:43,920
Speaker 5: and the listeners to know so much the power of

814
00:34:44,000 --> 00:34:47,840
Speaker 5: compounding interest, So twenty bucks now in fifteen years is

815
00:34:47,960 --> 00:34:50,120
Speaker 5: quite a bit more so, like that's nice to know.

816
00:34:50,920 --> 00:34:52,799
Speaker 5: And I do also think it can beat a lot

817
00:34:52,880 --> 00:34:55,600
Speaker 5: of the wastefulness. So I know of my friends they

818
00:34:55,640 --> 00:34:58,800
Speaker 5: go god like obviously very grateful for the things that

819
00:34:58,880 --> 00:34:59,279
Speaker 5: we get.

820
00:34:59,640 --> 00:35:01,400
Speaker 3: You know, gives a gratitude.

821
00:35:01,800 --> 00:35:04,320
Speaker 5: What is a kid going to do with fifteen trains

822
00:35:04,440 --> 00:35:06,800
Speaker 5: or like fifteen new toys, Like they don't need it,

823
00:35:07,280 --> 00:35:09,880
Speaker 5: They grow out of things quickly. There is an element

824
00:35:10,000 --> 00:35:13,960
Speaker 5: of wastefulness there too, which again the money kind of negates.

825
00:35:14,960 --> 00:35:17,920
Speaker 5: I personally would be fine with it, yeah, on the assumption.

826
00:35:18,120 --> 00:35:19,839
Speaker 5: And I mean I can obviously speak for my friends.

827
00:35:19,880 --> 00:35:22,080
Speaker 5: I know whatever amount I was to give someone they

828
00:35:22,120 --> 00:35:24,680
Speaker 5: would be thankful for it would be a non issue.

829
00:35:24,760 --> 00:35:27,920
Speaker 5: But I also totally get the stress of like it's

830
00:35:28,160 --> 00:35:30,239
Speaker 5: as you were saying, similar to weddings, like, oh, like,

831
00:35:30,760 --> 00:35:33,560
Speaker 5: is what I'm giving appropriate in line with everybody else,

832
00:35:33,640 --> 00:35:35,440
Speaker 5: Like I don't want to send the wrong message by

833
00:35:35,480 --> 00:35:37,960
Speaker 5: giving the wrong amount of money. Like that is more

834
00:35:38,000 --> 00:35:40,919
Speaker 5: complex then, I think, like if it's a conversation that's

835
00:35:40,960 --> 00:35:43,960
Speaker 5: been had or you know, when I think about like

836
00:35:44,040 --> 00:35:46,480
Speaker 5: your baby shower, eat, you said, oh, everyone bring a

837
00:35:46,520 --> 00:35:48,720
Speaker 5: book if you want to give a gift, Like obviously

838
00:35:48,760 --> 00:35:50,680
Speaker 5: gifts are not necessary, but if you really want to

839
00:35:50,680 --> 00:35:52,880
Speaker 5: bring something with love a book. So I think if

840
00:35:52,880 --> 00:35:55,520
Speaker 5: it was communicated in that way, like gifts are totally

841
00:35:55,600 --> 00:35:58,200
Speaker 5: not necessary. Your presence is the present type of vibe.

842
00:35:58,440 --> 00:36:00,839
Speaker 5: But if you did want to contribute thing, we'd love

843
00:36:00,880 --> 00:36:04,040
Speaker 5: to for you to contribute to their future by putting.

844
00:36:03,800 --> 00:36:06,640
Speaker 2: Some money for us, like just to give a bit

845
00:36:06,680 --> 00:36:08,440
Speaker 2: more context to that for us, So it was not

846
00:36:08,680 --> 00:36:12,120
Speaker 2: so much about like getting gifts, but getting things that

847
00:36:12,360 --> 00:36:15,920
Speaker 2: to me were very special to share with Harvey. So

848
00:36:16,080 --> 00:36:18,640
Speaker 2: like the additional context there is, like we asked for

849
00:36:18,719 --> 00:36:21,640
Speaker 2: your favorite childhood book and you could have gone to

850
00:36:21,760 --> 00:36:25,480
Speaker 2: kmart and gotten a ten dollar book like that's or Gabby,

851
00:36:25,640 --> 00:36:28,279
Speaker 2: actually who I speak about, I don't know a lot,

852
00:36:28,440 --> 00:36:31,399
Speaker 2: but she used to be my EA and then went

853
00:36:31,520 --> 00:36:33,440
Speaker 2: to work at the AFL, which I'm very proud of

854
00:36:33,480 --> 00:36:36,640
Speaker 2: her for, but she's also a very good friend of mine. Now,

855
00:36:37,160 --> 00:36:40,839
Speaker 2: she actually gifted me the legitimate book that she had

856
00:36:40,960 --> 00:36:43,319
Speaker 2: growing up that had like a few coloring in things

857
00:36:43,400 --> 00:36:45,359
Speaker 2: from when she was three and drew in it. It's

858
00:36:45,400 --> 00:36:47,600
Speaker 2: called Koala Lu just so you know, and she wrote

859
00:36:47,600 --> 00:36:50,000
Speaker 2: the most beautiful message in the front four Harvey being like,

860
00:36:50,360 --> 00:36:52,319
Speaker 2: this was my favorite book growing up and I can't

861
00:36:52,320 --> 00:36:54,000
Speaker 2: wait for you to read it. So that didn't cost

862
00:36:54,040 --> 00:36:55,680
Speaker 2: her a dollar, but I would say it's one of

863
00:36:55,760 --> 00:36:59,680
Speaker 2: my most prized possessions for Harvey because, like you know,

864
00:37:00,000 --> 00:37:02,920
Speaker 2: everybody wrote we asked for books in lieu of cards

865
00:37:02,960 --> 00:37:04,799
Speaker 2: and gifts, and like if you're going to write a card,

866
00:37:04,800 --> 00:37:06,600
Speaker 2: please write it in the front of the book. And

867
00:37:06,680 --> 00:37:09,200
Speaker 2: now whenever I'm reading to Harvey, he gets this book

868
00:37:09,440 --> 00:37:11,960
Speaker 2: and I go, this one's from Jess, or like this

869
00:37:12,160 --> 00:37:15,320
Speaker 2: one's from Beck And that was really to me, really sweet,

870
00:37:15,440 --> 00:37:17,520
Speaker 2: but that was what we were looking for. Not everyone

871
00:37:17,719 --> 00:37:20,080
Speaker 2: is in the financial position as well for a baby

872
00:37:20,160 --> 00:37:23,000
Speaker 2: shower to be asking only for books. You might actually

873
00:37:23,080 --> 00:37:25,360
Speaker 2: need the car seat paid for, and I totally get that.

874
00:37:25,880 --> 00:37:28,760
Speaker 2: But for me, it's like I don't feel comfortable asking

875
00:37:28,840 --> 00:37:32,640
Speaker 2: for gifts. But that's again a personal situation and like

876
00:37:32,960 --> 00:37:34,200
Speaker 2: each to their own, right.

877
00:37:34,360 --> 00:37:36,600
Speaker 5: Like, I guess that's the one other thing is you

878
00:37:36,719 --> 00:37:39,439
Speaker 5: miss out on the sentimentality, Like there is something really

879
00:37:39,520 --> 00:37:41,920
Speaker 5: joyful about knowing you've given something to a child and

880
00:37:41,960 --> 00:37:43,759
Speaker 5: they love it. It becomes their favorite toy or their

881
00:37:43,800 --> 00:37:46,839
Speaker 5: favorite book. Yeah, it's I guess also a very selfish thing, right,

882
00:37:46,960 --> 00:37:49,080
Speaker 5: like going, oh, I love knowing that I gave that

883
00:37:49,160 --> 00:37:50,080
Speaker 5: to you and you love that.

884
00:37:50,360 --> 00:37:52,839
Speaker 2: But I love that, And I don't know. I think

885
00:37:52,880 --> 00:37:55,319
Speaker 2: there's something about when you talk about kids, it's also

886
00:37:55,360 --> 00:37:58,680
Speaker 2: about connection and like building that connection. Like, don't get

887
00:37:58,719 --> 00:38:01,360
Speaker 2: me wrong, like Jess, I'm not trying to downplate it

888
00:38:01,360 --> 00:38:03,920
Speaker 2: at all. You gave my son a plastic train. He's

889
00:38:04,000 --> 00:38:07,120
Speaker 2: so obsessed with it and he loves it, and whenever

890
00:38:07,160 --> 00:38:08,880
Speaker 2: he's playing with it, I'd like send us a picture

891
00:38:08,880 --> 00:38:10,640
Speaker 2: and be like, oh my god, he's still on about

892
00:38:10,640 --> 00:38:13,840
Speaker 2: the bloody train. And it's just like you want to

893
00:38:14,000 --> 00:38:16,759
Speaker 2: feel part of their lives. And I get that you're

894
00:38:17,120 --> 00:38:20,400
Speaker 2: in the background building their lives because you've contributed to

895
00:38:20,440 --> 00:38:24,280
Speaker 2: their trust. But I also think that that can be complex.

896
00:38:24,360 --> 00:38:26,360
Speaker 2: So I think it would be for me around the

897
00:38:26,520 --> 00:38:30,960
Speaker 2: articulation of that request as like a fai if you

898
00:38:31,000 --> 00:38:33,400
Speaker 2: know you were planning on getting a gift and like

899
00:38:33,600 --> 00:38:35,480
Speaker 2: also didn't want to have to go shopping. Here's our

900
00:38:35,880 --> 00:38:38,279
Speaker 2: trust that we're building up and maybe giving a bit

901
00:38:38,320 --> 00:38:41,480
Speaker 2: more context, like to build Harvey's wealth in the future,

902
00:38:41,640 --> 00:38:43,520
Speaker 2: or to hopefully one day get him into his first

903
00:38:43,560 --> 00:38:46,040
Speaker 2: home or something, or for his education or whatever it is.

904
00:38:46,440 --> 00:38:48,840
Speaker 2: I feel like if it was presented as an option

905
00:38:49,080 --> 00:38:51,600
Speaker 2: rather than a do not bring gifts, contribute to the

906
00:38:51,680 --> 00:38:54,439
Speaker 2: trust kind of thing, I think that changes it because

907
00:38:54,440 --> 00:38:55,880
Speaker 2: you're right, like you might want to show up with

908
00:38:55,960 --> 00:38:57,360
Speaker 2: a gift, and I think that that's.

909
00:38:57,440 --> 00:38:59,640
Speaker 4: You might have a gift come in nature away.

910
00:38:59,719 --> 00:39:02,200
Speaker 2: Yeah, because I've talked about it before and maybe I

911
00:39:02,239 --> 00:39:05,000
Speaker 2: could do a whole episode on how you know. And again,

912
00:39:05,120 --> 00:39:08,680
Speaker 2: I would like to acknowledge my privilege, which I feel

913
00:39:08,840 --> 00:39:11,760
Speaker 2: like I am consistently doing, but also don't want anyone

914
00:39:11,840 --> 00:39:13,560
Speaker 2: to feel less than because this is what I'm doing,

915
00:39:13,600 --> 00:39:15,560
Speaker 2: but I don't expect other people to do it. But

916
00:39:15,680 --> 00:39:19,400
Speaker 2: when Harvey was born, we established an investment bond on

917
00:39:19,560 --> 00:39:22,839
Speaker 2: his behalf and I don't even care. I'll just tell

918
00:39:22,880 --> 00:39:25,080
Speaker 2: you we put ten thousand dollars in there because I

919
00:39:25,160 --> 00:39:26,920
Speaker 2: was like, okay, cool, ten thousand dollars. And then in

920
00:39:27,040 --> 00:39:30,960
Speaker 2: my head we will probably contribute around five hundred dollars

921
00:39:31,040 --> 00:39:33,600
Speaker 2: at a minimum each year. So in my head, I'm like, cool,

922
00:39:33,640 --> 00:39:36,600
Speaker 2: we'll probably be able to do that, Like two hundred

923
00:39:36,640 --> 00:39:38,719
Speaker 2: fifty dollars at his birthday, two hundred and fifty dollars

924
00:39:38,719 --> 00:39:39,680
Speaker 2: at Christmas kind of is.

925
00:39:39,640 --> 00:39:42,120
Speaker 3: Where our heads are at. Is that an expectation for

926
00:39:42,200 --> 00:39:43,360
Speaker 3: everybody else? Absolutely not.

927
00:39:43,520 --> 00:39:46,600
Speaker 2: This is just me in the financial situation I am

928
00:39:46,760 --> 00:39:49,000
Speaker 2: in going. I want it to be reasonable, but I

929
00:39:49,120 --> 00:39:51,000
Speaker 2: also want to make sure that I'm building a secure

930
00:39:51,120 --> 00:39:53,360
Speaker 2: financial future for Harvey, and like we will do this

931
00:39:53,520 --> 00:39:55,760
Speaker 2: for every other child that we hopefully have in the future.

932
00:39:56,320 --> 00:40:01,240
Speaker 2: And I know that based on my ex financial advisor

933
00:40:01,320 --> 00:40:05,520
Speaker 2: predictions and you know projections, I should say, with a

934
00:40:05,640 --> 00:40:08,680
Speaker 2: ten thousand dollar initial deposit and then just like five

935
00:40:08,760 --> 00:40:10,919
Speaker 2: hundred dollars a year, by the time he's fifty, he'll

936
00:40:10,920 --> 00:40:13,839
Speaker 2: be worth one point four mil. That's a good deal.

937
00:40:14,080 --> 00:40:17,080
Speaker 3: Yeah, And that's got nothing to do with inheritance. It's

938
00:40:17,120 --> 00:40:19,359
Speaker 3: got nothing to do with any of that. So that's

939
00:40:19,440 --> 00:40:20,040
Speaker 3: the power of it.

940
00:40:20,120 --> 00:40:22,920
Speaker 2: Why, Like, that's why your parents or their parents probably

941
00:40:23,000 --> 00:40:24,759
Speaker 2: want you to contribute, because they're like, you know, we've

942
00:40:24,800 --> 00:40:26,640
Speaker 2: done the numbers, and like, we're gonna put this kid

943
00:40:26,640 --> 00:40:29,720
Speaker 2: in the best possible financial position. But you're also asking

944
00:40:29,800 --> 00:40:32,879
Speaker 2: for something that I think not everybody has it the moment,

945
00:40:32,920 --> 00:40:34,320
Speaker 2: and that's disposable income.

946
00:40:34,840 --> 00:40:36,080
Speaker 3: And I just I don't know.

947
00:40:36,360 --> 00:40:38,839
Speaker 2: I don't like asking people for money, which is why

948
00:40:39,000 --> 00:40:42,600
Speaker 2: I'm so like passionate about like teaching you how to

949
00:40:42,640 --> 00:40:45,760
Speaker 2: create your own financial security and your own financial futures.

950
00:40:45,880 --> 00:40:48,720
Speaker 2: And you know that probably comes from my money story

951
00:40:48,840 --> 00:40:51,040
Speaker 2: of you know, not always having a lot, and being

952
00:40:51,160 --> 00:40:52,920
Speaker 2: like I need to set Harvey up because what if

953
00:40:52,960 --> 00:40:55,839
Speaker 2: he's in that position and like, I don't know, yeah,

954
00:40:55,960 --> 00:40:57,480
Speaker 2: money still makes me anxious.

955
00:40:57,160 --> 00:40:59,359
Speaker 5: As well, totally what did everybody else say?

956
00:40:59,440 --> 00:40:59,560
Speaker 2: Oh?

957
00:40:59,680 --> 00:41:00,480
Speaker 3: Color color?

958
00:41:00,560 --> 00:41:02,959
Speaker 2: Al So, As always, we ask a few questions before

959
00:41:03,000 --> 00:41:05,600
Speaker 2: we get into the two cents. First question I asked

960
00:41:05,719 --> 00:41:07,800
Speaker 2: was how would you feel if you read this on

961
00:41:07,920 --> 00:41:09,120
Speaker 2: a first birthday invitation?

962
00:41:10,040 --> 00:41:12,160
Speaker 3: Thirty eight percent of you said I love it.

963
00:41:12,719 --> 00:41:13,400
Speaker 2: Yeah, because it's a.

964
00:41:13,440 --> 00:41:14,480
Speaker 3: Chese on the money community.

965
00:41:14,520 --> 00:41:17,000
Speaker 2: I reckon, Yeah, I don't know if the general consensus

966
00:41:17,000 --> 00:41:19,960
Speaker 2: across Australia would be the same. Thirty six percent said

967
00:41:19,960 --> 00:41:23,400
Speaker 2: it gives me the ick. Okay, also fair, and twenty

968
00:41:23,480 --> 00:41:25,560
Speaker 2: six percent of you said I'm actually quite torn.

969
00:41:26,400 --> 00:41:29,280
Speaker 3: We then asked, would you end up contributing to the trust?

970
00:41:29,480 --> 00:41:31,440
Speaker 2: Forty six percent of you said yep, don't see a

971
00:41:31,440 --> 00:41:34,080
Speaker 2: problem with it, Thirty two percent said yeah, but just

972
00:41:34,160 --> 00:41:37,319
Speaker 2: to avoid the drama, eleven percent said no, I'd still

973
00:41:37,360 --> 00:41:41,040
Speaker 2: be buying a gift, and eleven percent again same, said

974
00:41:41,120 --> 00:41:43,680
Speaker 2: I would be turned off doing either of those things.

975
00:41:44,880 --> 00:41:46,719
Speaker 2: You know what I feel like, each to their own.

976
00:41:46,760 --> 00:41:48,480
Speaker 2: It's all part of our money story and what we

977
00:41:48,600 --> 00:41:51,279
Speaker 2: can and can't afford. I don't know, because like we've

978
00:41:51,360 --> 00:41:53,560
Speaker 2: just sat here. If I was asked by one of

979
00:41:53,600 --> 00:41:55,920
Speaker 2: you who had a kid, I'd be like, pop off, queen,

980
00:41:56,120 --> 00:41:59,520
Speaker 2: I love this, like because that's just part of my nature.

981
00:41:59,640 --> 00:42:01,880
Speaker 2: But then you're such a gift giver and like a

982
00:42:01,920 --> 00:42:04,040
Speaker 2: gift maker that I think you'd be disappointed that you

983
00:42:04,080 --> 00:42:05,200
Speaker 2: didn't get that opportunity.

984
00:42:05,360 --> 00:42:06,040
Speaker 4: Yeah, definitely.

985
00:42:06,160 --> 00:42:09,240
Speaker 2: So everybody's different, and that's why I think it shouldn't

986
00:42:09,239 --> 00:42:12,399
Speaker 2: be presented as a we aren't accepting gifts. We only

987
00:42:12,480 --> 00:42:16,439
Speaker 2: accept this just as a hey, FYI, because I don't

988
00:42:16,480 --> 00:42:19,160
Speaker 2: know there might be people out there that are like, oh, oh,

989
00:42:19,400 --> 00:42:21,520
Speaker 2: chuck twenty bucks in your trust account, and I'm also

990
00:42:21,600 --> 00:42:23,560
Speaker 2: going to get you a train, like do you know

991
00:42:23,600 --> 00:42:26,680
Speaker 2: what I mean? Like, have you met grandparents? They're so

992
00:42:26,960 --> 00:42:29,279
Speaker 2: extra like they might be all over that. But then

993
00:42:29,320 --> 00:42:31,600
Speaker 2: your friends are kind of like, oh, I'm not so interested.

994
00:42:31,880 --> 00:42:34,600
Speaker 2: Let's just present it as a nice option as opposed

995
00:42:34,640 --> 00:42:39,080
Speaker 2: to an expectation. Absolutely, we also obviously then said, guys,

996
00:42:39,160 --> 00:42:43,280
Speaker 2: what's your two cents? I gave my kids shares last Christmas.

997
00:42:43,320 --> 00:42:46,360
Speaker 2: And I think it's a great idea. Yes, because it

998
00:42:46,440 --> 00:42:49,239
Speaker 2: was you. Yeah, Like, we're not asking other people, hey,

999
00:42:49,320 --> 00:42:52,520
Speaker 2: can you please buy my kid? Vanguard High Growth? Like

1000
00:42:52,960 --> 00:42:56,040
Speaker 2: the next person said it's like contributing to a honeymoon fund,

1001
00:42:56,160 --> 00:42:59,600
Speaker 2: and for me, that's a no thank you. Another person

1002
00:42:59,680 --> 00:43:01,759
Speaker 2: said it's awkward to ask people, but I do sell

1003
00:43:01,880 --> 00:43:04,959
Speaker 2: unwanted gifts, and then I put that money into an account.

1004
00:43:04,680 --> 00:43:05,280
Speaker 3: For my girls.

1005
00:43:05,640 --> 00:43:05,839
Speaker 5: Yeah.

1006
00:43:06,680 --> 00:43:11,200
Speaker 2: I did get for Harvey's first birthday, I got three

1007
00:43:11,280 --> 00:43:12,640
Speaker 2: sets of the same book series.

1008
00:43:12,880 --> 00:43:14,120
Speaker 4: Right, that's the same.

1009
00:43:14,400 --> 00:43:16,920
Speaker 3: And I don't know if I should be admitting this here.

1010
00:43:17,040 --> 00:43:19,400
Speaker 2: Actually, you know what, whatever, I regifted one of them

1011
00:43:19,480 --> 00:43:22,320
Speaker 2: and I put another one on Facebook marketplace. Yeah, he

1012
00:43:22,400 --> 00:43:25,320
Speaker 2: got the cash, don't worry. And technically that gift was

1013
00:43:25,400 --> 00:43:29,640
Speaker 2: given by Harvey to another baby. Yeah, but great book set.

1014
00:43:30,280 --> 00:43:32,279
Speaker 2: I shouldn't have mentioned that I liked it because three

1015
00:43:32,320 --> 00:43:36,640
Speaker 2: people will listen. Another person said I'd probably be annoyed

1016
00:43:36,680 --> 00:43:38,600
Speaker 2: that I hadn't thought of the idea.

1017
00:43:38,440 --> 00:43:39,839
Speaker 3: For myself and for my kids.

1018
00:43:39,960 --> 00:43:40,560
Speaker 4: I love that day.

1019
00:43:41,000 --> 00:43:43,279
Speaker 2: Another person said, can we make this the norm? I'm

1020
00:43:43,360 --> 00:43:44,640
Speaker 2: turning thirty seven soon.

1021
00:43:46,440 --> 00:43:47,640
Speaker 4: I'll take shares for my birthday.

1022
00:43:47,719 --> 00:43:53,120
Speaker 2: Yes, I should start just gifting people shares. Another person said, well,

1023
00:43:53,160 --> 00:43:55,480
Speaker 2: how much a gift might spend up to thirty dollars,

1024
00:43:55,719 --> 00:43:58,239
Speaker 2: But I would feel like I'm not enough putting thirty

1025
00:43:58,320 --> 00:44:01,279
Speaker 2: dollars into a trust. I feel like that's too much pressure. Yeah,

1026
00:44:01,440 --> 00:44:03,520
Speaker 2: which I think is really aligned to what you're saying back.

1027
00:44:03,640 --> 00:44:04,000
Speaker 4: Definitely.

1028
00:44:04,120 --> 00:44:07,520
Speaker 2: Another person said, first birthdays are already really weird. Kid

1029
00:44:07,560 --> 00:44:11,560
Speaker 2: won't even remember. Feels like a weird money grab. Again,

1030
00:44:12,320 --> 00:44:15,040
Speaker 2: everybody has an opinion. It's money. Turns out, that's why

1031
00:44:15,040 --> 00:44:17,239
Speaker 2: it's taboo or used to be taboo to talk about.

1032
00:44:17,280 --> 00:44:19,560
Speaker 2: And I'm just going to share one more. My baby

1033
00:44:19,640 --> 00:44:22,680
Speaker 2: turned one this week, and you just get so much stuff.

1034
00:44:22,760 --> 00:44:25,120
Speaker 2: I kind of wish this was an option. Yeah, I

1035
00:44:25,200 --> 00:44:29,240
Speaker 2: think you're going to get differing opinions from everybody, right totally.

1036
00:44:29,440 --> 00:44:31,520
Speaker 5: But like it's all in the communication, and it's all

1037
00:44:31,560 --> 00:44:32,719
Speaker 5: in like what feels good to you.

1038
00:44:32,960 --> 00:44:33,719
Speaker 4: I'm not gonna lie.

1039
00:44:33,880 --> 00:44:36,320
Speaker 2: There is nothing more heartwarming, and Jess, you've got to

1040
00:44:36,440 --> 00:44:40,040
Speaker 2: experience this firsthand than a tiny one year old ripping

1041
00:44:40,160 --> 00:44:43,000
Speaker 2: into a present and not even sure what they're doing. Yeah,

1042
00:44:43,400 --> 00:44:47,720
Speaker 2: it's so cue joy on their face as they realize it's.

1043
00:44:47,640 --> 00:44:49,040
Speaker 6: Not just the paper.

1044
00:44:51,280 --> 00:44:53,560
Speaker 4: That's so cute, it's oh my god.

1045
00:44:53,600 --> 00:44:55,640
Speaker 2: It's like, so don't get me wrong, Like, I can

1046
00:44:55,719 --> 00:44:57,640
Speaker 2: see the joy, I can see how it might make

1047
00:44:57,680 --> 00:45:00,640
Speaker 2: people anxious as well. But I think it's more about

1048
00:45:00,680 --> 00:45:03,520
Speaker 2: framing these things as an option rather than an expectation.

1049
00:45:03,640 --> 00:45:04,160
Speaker 4: Absolutely.

1050
00:45:04,400 --> 00:45:06,680
Speaker 3: Oh my god, it's like you should communicate clearly.

1051
00:45:08,080 --> 00:45:10,920
Speaker 2: That's so weird. All right, great place to leave it, guys.

1052
00:45:11,440 --> 00:45:13,399
Speaker 2: Thank you so much for joining us, and we hope

1053
00:45:13,440 --> 00:45:16,239
Speaker 2: you have the best ever weekend and we'll see you

1054
00:45:16,320 --> 00:45:17,799
Speaker 2: right early on Monday for a money dary.

1055
00:45:18,040 --> 00:45:18,560
Speaker 3: Bye guys.

1056
00:45:18,719 --> 00:45:18,959
Speaker 5: Bye.

1057
00:45:25,360 --> 00:45:27,880
Speaker 6: The advice shared on She's on the Money is general

1058
00:45:27,960 --> 00:45:31,759
Speaker 6: in nature and does not consider your individual circumstances. She's

1059
00:45:31,840 --> 00:45:35,240
Speaker 6: on the Money exists purely for educational purposes and should

1060
00:45:35,320 --> 00:45:38,480
Speaker 6: not be relied upon to make an investment or financial decision.

1061
00:45:38,880 --> 00:45:41,319
Speaker 6: If you do choose to buy a financial product, read

1062
00:45:41,360 --> 00:45:44,920
Speaker 6: the PDS TMD and obtain appropriate financial advice.

1063
00:45:44,719 --> 00:45:46,040
Speaker 3: Tailored towards your needs.

1064
00:45:46,440 --> 00:45:50,320
Speaker 6: Victoria Divine and She's on the Money are authorized representatives

1065
00:45:50,440 --> 00:45:54,239
Speaker 6: of money sheirper pty LTD ABN three two one IS

1066
00:45:54,320 --> 00:45:58,200
Speaker 6: six four nine two seven seven zero eight AFSL four

1067
00:45:58,280 --> 00:45:59,759
Speaker 6: five one two eight nine.

1068
00:46:04,680 --> 00:46:05,600
Speaker 4: To deplete the