Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 2: Hello, and welcome to She's on the Money, Need the
Speaker 2: podcast for millennials who want financial freedom. Today is Friday,
Speaker 2: my friends, which means it is time to get our
Speaker 2: little team together and celebrate you our incredible She's on
Speaker 2: the Money community Today, Miss Jessicaraci hi over there is
Speaker 2: going to be sharing our favorite money wins and we
Speaker 2: as a team are going to answer a juicy money
Speaker 2: dilemma that you've got, which this week is all about
Speaker 2: budgeting to be paid monthly, which I feel is a
Speaker 2: really big pain point for a lot of people in
Speaker 2: our community, and we are going to be unpacking something
Speaker 2: that you guys slid into our DMS about which this
Speaker 2: week is all about what to do when your friends
Speaker 2: aren't accepting your financial goals a little bit spicy. But first,
Speaker 2: let's recap the week that was. Beck, How are you?
Speaker 4: How's your week been pretty done good? I would have
Speaker 4: to say it's pretty good, isn't it. Yeah, it's been
Speaker 4: really really good. Actually it's my last week in my
Speaker 4: old role, big dog energy, and I just feel like,
Speaker 4: you know, when you mentally check out, but in like
Speaker 4: the best way possible.
Speaker 2: God, this is happening on Friday, so I don't know.
Speaker 5: They don't know if you've.
Speaker 2: Been mentally check out. What are they going to do?
Speaker 2: You don't work there anymore.
Speaker 5: Some time they hear this, so it's too late.
Speaker 2: Do they even listen? Like, who knows?
Speaker 5: They probably don't listen exactly exist.
Speaker 2: They do they do? That's where they were so salty
Speaker 2: at me.
Speaker 5: Oh okay, that makes it.
Speaker 2: Yeah, Jess, how was your week? What have you been
Speaker 2: up to? You know, just touring around the country?
Speaker 5: Oh okay, yeah, just norm big stuff like that.
Speaker 2: No, biggie, just touring the country. Where have we been
Speaker 2: this week?
Speaker 6: So we had our international within state events in Melbourne
Speaker 6: and then also in Sydney today, which has been phenomenal.
Speaker 6: Sydney was our last city for the month. We did
Speaker 6: four this year. Best feeling in the world.
Speaker 2: Absolutely walked. I mean, we probably should tell some people
Speaker 2: that we're telling Porky is when we say today because
Speaker 2: we recorded it the day before, because right now I'm
Speaker 2: probably on stage. And if you didn't get tickets to
Speaker 2: the She's on the Money event and you're listening to
Speaker 2: the podcast at like you know, eight or nine am
Speaker 2: on a Friday morning, you'll be like, one of these things,
Speaker 2: doesn't the moth coexists a mathe't math in mathe Mathin.
Speaker 2: But we haven't done Sydney yet. I'm currently doing Sydney
Speaker 2: as this episode is dropping. But Melbourne was lit hometown,
Speaker 2: Like you just know that's going to be good. You
Speaker 2: just knew it was going to be good. Like my
Speaker 2: sister came ten out of ten.
Speaker 6: Friends and family are there one of our biggest cities
Speaker 6: as well, which is awesome.
Speaker 2: There was more than five hundred people that came on Wednesday,
Speaker 2: which blows my mind. Like I didn't even know that
Speaker 2: we'd have a community of more than five hundred people.
Speaker 2: I remember when I started the Facebook group which preceded
Speaker 2: the podcast, right, and it used to just be this
Speaker 2: little Facebook group that I started because I did workshops
Speaker 2: called Sheese on the Money and I wanted everybody who
Speaker 2: came to my workshop to join my Facebook group so
Speaker 2: we could continue talking about money and soubrenuation and just
Speaker 2: all this sexy stuff, right, And I remember tipping over
Speaker 2: one hundred and I was like, guys, well, this is great.
Speaker 2: I've made it. No, But I was just like, there
Speaker 2: are a hundred people that want to talk about money.
Speaker 2: And I mean I still, you know, maybe commented on
Speaker 2: a few too many posts myself. I'm like, oh wow,
Speaker 2: this is great information. But to think that we have
Speaker 2: grown not only to more than two hundred and fifty
Speaker 2: thousand people in that Facebook group now, which blows my mind,
Speaker 2: But we had five hundred people in one room at
Speaker 2: one time.
Speaker 5: Which is it?
Speaker 2: When you see Shares on the Money, like that's incomprehensible
Speaker 2: to me. Still, Like I walk away feeling you know,
Speaker 2: when you like disconnect a little bit from a situation
Speaker 2: because it just doesn't feel real and you're like trying
Speaker 2: so hard to absorb it, but you're also just still
Speaker 2: so I guess in awe, Yeah, that was me on Wednesday.
Speaker 2: That was me on Wednesday, and I'm still kind of
Speaker 2: trying to process it. I love it, I adore it,
Speaker 2: but it is so funny. But for those of you
Speaker 2: who haven't gone to the show today, let's move on.
Speaker 2: Jessic GOTRICI, I want to know what community money wins
Speaker 2: have you got to share with us this week?
Speaker 6: All right, well, I'm actually gonna start with the money
Speaker 6: loss from Sophie. She said she went to the pub
Speaker 6: last week with her friend and she just wanted a
Speaker 6: soda water and the total for two of them was
Speaker 6: a nine dollars sixty No for soda water.
Speaker 2: No, that should no, that should be free.
Speaker 6: It should be it should be really up charging for
Speaker 6: those bubbles, aren't they.
Speaker 2: And it's like never bottled either at the pub. It's
Speaker 2: always like the post mix and you know that that's
Speaker 2: just tap water coming through the post mix to make
Speaker 2: me bubbly water, Like, guys give water for free? Nine
Speaker 2: dollars no, no, no.
Speaker 5: Too much.
Speaker 4: I was charged eleven dollars one what wait, wait, twelve
Speaker 4: dollars twelve dollars, not.
Speaker 5: Playing with it six dollars six dollars per so to water.
Speaker 2: How much was the wine?
Speaker 4: I feel like the wine was like seven dollars, Like
Speaker 4: I really shouldn't. Might as well just gonna wine, just
Speaker 4: started drinking.
Speaker 2: You know what I would have done. I would have
Speaker 2: bought the wine and then taken my empty wine glass
Speaker 2: to the bathroom and got my own water from the tap.
Speaker 6: Potentially a health loss. I might just like dig it
Speaker 6: out of the toilet next time.
Speaker 5: That might be better.
Speaker 2: Is that bad? Like at home? Do you guys like
Speaker 2: drink water from the tap?
Speaker 5: Absolutely?
Speaker 2: What's wrong with the tap of the pub?
Speaker 6: I just think you don't know who's touched the physical
Speaker 6: tap and what not.
Speaker 2: Putting my mouth around the tap jests but.
Speaker 6: You can't know something about it.
Speaker 2: But you know what, that's fine.
Speaker 6: That's the money win potentially for Sophie at the pub
Speaker 6: next week.
Speaker 2: That's it. I do remember one time I was in
Speaker 2: Tasmania at my grandparents' house and they were on tank water.
Speaker 2: I remember one time we're all complaining that the water
Speaker 2: tasted rank. We're like, oh, there's something wrong with the water,
Speaker 2: and my grandparents were like just drink it. It's fine.
Speaker 2: It's rain water like it's healthy. It's the best water
Speaker 2: in the world. It's Tasmanian. We found it dead. Possibly
Speaker 2: I'm still alive. It's fine right now, Move on, Move on, Jess,
Speaker 2: What have you got? Next?
Speaker 6: Money even comes from Emma, who said money when I
Speaker 6: was ordering from a company and their shipping policy said
Speaker 6: free shipping after you spent a certain amount. However, it
Speaker 6: wasn't coming off at the checkout. Turns out they had
Speaker 6: updated it, but forgot to update the policy on the website,
Speaker 6: and so I wrote them and I got a discount
Speaker 6: code to still receive free shipping.
Speaker 2: Oh how cool.
Speaker 6: Follow up when things aren't working, make sure you get
Speaker 6: that discount. My next money wind comes from Bailey Jean,
Speaker 6: who said I applied for a job late last year
Speaker 6: but wasn't successful until a few weeks ago when HR
Speaker 6: called offering me the same role. Yeah, my contract and
Speaker 6: I'm earning twenty k more than I was earning most
Speaker 6: time last year.
Speaker 2: I feel like that is Bechtor energy. Like so many
Speaker 2: times will get rejected for a role and we just
Speaker 2: take it personally and go, oh my gosh, like they
Speaker 2: must have hated me. Or I could never do that,
Speaker 2: like why did I do it? When stuff like this happens,
Speaker 2: like usually during the hiring process, it's so pragmatic. They
Speaker 2: might go, all right, I'm hiring Beck and Jess have
Speaker 2: applied for this role. Beck's got this much experience. Jess
Speaker 2: has got this much experience. Loved Beck, loved Jess. Jess
Speaker 2: has more experience. Tick that box. It's usually got nothing
Speaker 2: to do with you personally, but rather the business at
Speaker 2: the time needs to pick the candidate who has the
Speaker 2: most things that tick boxes right, because obviously they're trying
Speaker 2: to feel a roll and get a job done and rammatically,
Speaker 2: if someone has more experience, they might be better at it. Yeah,
Speaker 2: but if you're ever in that situation and you're feeling
Speaker 2: a bit flat, go back and say, oh my gosh,
Speaker 2: thank you so much for letting me know. Can you
Speaker 2: give me a little bit of feedback so next time
Speaker 2: when I apply for this role, I'm more experienced or
Speaker 2: have the right criteria like what could I meet? And
Speaker 2: that might put you one in a better position because
Speaker 2: you might just go just needed another year more working.
Speaker 2: I'm going to go back into the workforce, stay there
Speaker 2: in that role and then do exactly what this community
Speaker 2: member's done, where basically she just sat pretty and waited
Speaker 2: for the role to come back in in Juram money win,
Speaker 2: or you might see something similar pop up and go no,
Speaker 2: I am qualified. I can do this because one note
Speaker 2: doesn't mean no forever.
Speaker 6: And sometimes they keep your resume on file, like they
Speaker 6: did for Bailey. My next money win this week comes
Speaker 6: from Anna, who said massive money. When we needed a
Speaker 6: new couch, so we went to Ike to have a look.
Speaker 6: The one that we wanted was thirteen hundred dollars plus.
Speaker 2: Couches are so expensive at the.
Speaker 6: So expensive, and I found out that you can change
Speaker 6: the entire cover on the couch. Very smart, big fan
Speaker 6: of that. I did searching and found a couch in
Speaker 6: good structural condition on gum Tree for a hundred bucks,
Speaker 6: bought it, picked it up, and then ordered brand new
Speaker 6: covers from my couch three hundred dollars. All in all,
Speaker 6: I saved nine hundred dollars for pretty much a brand
Speaker 6: new count. That's so smart. I would never have thought
Speaker 6: of that. Removable covers too, only way to go.
Speaker 2: So I have removable covers on their couch that we
Speaker 2: currently have and adore and it's now making really hard
Speaker 2: to pick a new couch because.
Speaker 6: We need a new couch, and I really love.
Speaker 2: This particular one. It doesn't fit our space anymore. But
Speaker 2: like being able to put them in the washing machine
Speaker 2: and wash them with three pets is the best. Yeah,
Speaker 2: but it's so hard to find, so it's good to know, ike,
Speaker 2: I have some arguably affordable ones, because I feel like
Speaker 2: every couch in this dog is now worth a billion dollars.
Speaker 2: They're so exciting.
Speaker 6: What's with that?
Speaker 2: I don't know, Like you just chat, you just sit,
Speaker 2: you have literally no functionality. I don't get it.
Speaker 6: Oh my goodness. My next money comes from Linda who
Speaker 6: said she used up old apple and a carrot and
Speaker 6: made twelve apple carrot class for my kids at lunchboxes.
Speaker 6: And she made her own Baker's Delight cheese and bacon
Speaker 6: rolls as well.
Speaker 5: I want sauce, I know.
Speaker 6: I feel like that sounds so good.
Speaker 2: A carrot apple bar.
Speaker 6: Yeah, I'm on the scrolls TikTok side where they make
Speaker 6: lunch boxes for their kids or their partners.
Speaker 2: Mate. That makes sense.
Speaker 6: Fancy you have like four kids and a husband, right exactly,
Speaker 6: so it totally makes fun when I'm there. My last
Speaker 6: money win for this week comes from Taylor, who said
Speaker 6: money win. We just bought our first home. I'm self employed.
Speaker 6: We have a two year old daughter, and we did
Speaker 6: it all on our own.
Speaker 1: Yes.
Speaker 2: How exciting is that? Congratulations Taylor. And being self employed
Speaker 2: gives you so many more hurdles to getting into the market. Genius.
Speaker 6: Love it.
Speaker 5: That's awesome.
Speaker 2: How exciting. All right, Well, let's go to a really
Speaker 2: quick break because after the break, I really want to
Speaker 2: dive into a conversation about budgeting when you have a
Speaker 2: monthly income, which I think is something we all struggle
Speaker 2: with at some point in our lives. And we have
Speaker 2: a little dilemma about what happens when your friends aren't
Speaker 2: accepting of your financial goals. So guys, don't go anywhere.
Speaker 6: All right, Welcome back, everybody. Let's jump into one of
Speaker 6: the best bits of the week. I think Money's honna
Speaker 6: I love this part.
Speaker 2: It's so good. Hi. There, have you got a money
Speaker 2: dilemma you just can't solve? The Sheese on the Money
Speaker 2: Team is here to help. Every week, we tackle your dilemmas,
Speaker 2: both big and small, to answer your most burning money,
Speaker 2: career and life questions. To get involved, simply head to
Speaker 2: our website and leave us a short voice recording and
Speaker 2: you might just find yourself on the show. Now, let's
Speaker 2: take a listen to this week's money dilemma.
Speaker 7: Hey, I've got a money dilemma for you. I get
Speaker 7: paid monthly, and right now, at the end of every
Speaker 7: single month, I am strapped for cash. At the start
Speaker 7: of each month, I put some money away for my savings,
Speaker 7: for investing and to pay my bills, and by the
Speaker 7: end of the month, I am looking for money under
Speaker 7: the couch. So I'm just looking for some tips and
Speaker 7: guidance on how I can avoid that, because December January
Speaker 7: it was rough this year anyway, love your work.
Speaker 6: By that took me by surprise that it was a
Speaker 6: male voice, because I wasn't expecting it. But I love
Speaker 6: that we have men in our community. We had a
Speaker 6: few at hour events over the past couple of weeks,
Speaker 6: and we had a few that arguably were brought against
Speaker 6: their will as boyfriends, and there were some who listened,
Speaker 6: and I freaking love it.
Speaker 2: It's actually the best. I did give me a little jump, though,
Speaker 2: I was like, is this all right? Recording? I love
Speaker 2: this though I also love this question because I feel
Speaker 2: like this is something that I used to struggle with
Speaker 2: and then I found my way of budgeting. And Jess,
Speaker 2: I feel like you're probably really good at talking about
Speaker 2: this because I pay you monthly. We will watching it.
Speaker 2: But I guess the summary of these is my best
Speaker 2: advice would literally be the She's on the money budgeting
Speaker 2: cash flow course. And the reason for that is because
Speaker 2: there's so much more that comes into budgeting and cash
Speaker 2: flow and structuring ourselves than just okay, well, instead of
Speaker 2: living week to week, how do I live months to months?
Speaker 2: Because those big costs then add up even more. I
Speaker 2: feel like they hurt you more when you're living on
Speaker 2: a monthly budget than a weekly one, because if a
Speaker 2: really big cost comes up, jest, you go, oh shit,
Speaker 2: like that's okay or right, all paid off over the
Speaker 2: next two or three weeks, and you can kind of
Speaker 2: justify it. They're to yourself. Then if you go, okay, cool,
Speaker 2: I got paid four and a half thousand dollars this month,
Speaker 2: and then I have my rediol and it's twelve hundred
Speaker 2: dollars and you're like, wow, that's a quarter of my
Speaker 2: income or you know, a quarter of my budget. Just gone.
Speaker 2: And I think that when it comes to budget and
Speaker 2: cash flow, we actually need to take a step back
Speaker 2: and not talk about how often you get paid, but
Speaker 2: rather how many bills and expenses do I have every week,
Speaker 2: every month, every year? What do those different expenses cost?
Speaker 2: What do they look like? If it's a weekly cost
Speaker 2: like groceries, okay, we can put it in as a
Speaker 2: weekly cost, but then it might be a monthly cost
Speaker 2: like a phone bill, and then it extrapolates out too,
Speaker 2: so annual bills like you might have some insurances to pay,
Speaker 2: or you might have your redgo or your car insurance
Speaker 2: or something like that, right that we need to take
Speaker 2: into consideration. And if it's twelve hundred bucks a year
Speaker 2: for your car rego, what's one hundred dollars a month
Speaker 2: that we actually have to put aside to make sure
Speaker 2: that it doesn't bite us in the butt when it
Speaker 2: comes time to paying it. So I think it's actually
Speaker 2: about the system you have, and there's not actually a
Speaker 2: different way of approaching it when it comes to I
Speaker 2: get paid weekly or I get paid monthly when we
Speaker 2: start that conversation, because we actually need to understand every
Speaker 2: single dollar that comes into our account and what job
Speaker 2: it has, and making sure that we have a banking structure.
Speaker 2: And that's why I always talk about this concept called
Speaker 2: a cash hub, where every single dollar goes into your
Speaker 2: cash hub and it sits there in waiting for you
Speaker 2: to give it a job, and every single dollar that
Speaker 2: comes into your account gets given a job. So it
Speaker 2: might come in and it might be for your food,
Speaker 2: fuel and Fun account, which I call that because it
Speaker 2: sounds way more fun, but that's basically your everyday expenses
Speaker 2: and your groceries and things that you tap a debit
Speaker 2: card for. You might say, okay, Victoria, I spend a
Speaker 2: total of two hundred and fifty dollars a week on food, fuel,
Speaker 2: and fun. So you take that two hundred and fifty
Speaker 2: dollars from your cash up and pop it on your
Speaker 2: debit card on a weekly basis. And I recommend that
Speaker 2: regardless of whether you get paid weekly or monthly or fortnightly,
Speaker 2: or however you get paid, we set up a direct debit.
Speaker 2: Mine personally is on a Thursday, because I want to
Speaker 2: withhold all of my money till closer to the end
Speaker 2: of the week. Because if you give me two hundred
Speaker 2: and fifty dollars on Monday.
Speaker 5: Gonna be gone.
Speaker 2: It's gonna be gone. Like That's exactly it, right, That
Speaker 2: is exactly how I function because I can't be trusted.
Speaker 2: Why do you think I have such a strict system
Speaker 2: that enables me to work in the way that I work,
Speaker 2: but also takes into consideration the fact that I literally
Speaker 2: have ADHD. So if the money's there, I'm going to
Speaker 2: spend it. It's just going to happen. So I transfer
Speaker 2: it on the Thursday, because often if I'm going to
Speaker 2: go out for drinks, it might be on a Thursday
Speaker 2: or a Friday night after work, and then I know
Speaker 2: that if I've got the weekend coming up, okay, well,
Speaker 2: if I have brunched on a Saturday, I then look
Speaker 2: at my account make sure that I've got some money
Speaker 2: left over. And you know that time of the week
Speaker 2: is when I do my groceries, right, So I have
Speaker 2: that money that goes there, But then I also have
Speaker 2: all my direct debts coming out of my cash hub.
Speaker 2: So the money that is sitting in that cash hub
Speaker 2: is kind of laying in wait, you could say, to
Speaker 2: be allocated to an expense. So it might be my
Speaker 2: monthly phone bill and I know that that's forty five
Speaker 2: dollars a month, and that's going to come out of
Speaker 2: my cash hub, so that money doesn't need to be
Speaker 2: put to work in the interim that money for me,
Speaker 2: That job of that cash is to sit there and
Speaker 2: wait so that it can pay my bill later in
Speaker 2: the month.
Speaker 4: And I think that there's this misconception where every single
Speaker 4: dollar needs to work as hard as you do for it.
Speaker 4: But when I say that, I don't mean it needs
Speaker 4: to be making a massive return. I mean it needs
Speaker 4: to be taking some pressure off you or feeling good
Speaker 4: about that, or you know, it's working hard for you
Speaker 4: so that it can pay the bill that you have
Speaker 4: for scene coming up right, And then every single week,
Speaker 4: or you could do this monthly or fortnightly or however
Speaker 4: often you want. We then transfer out our savings amount
Speaker 4: and our investment amount if we're in the privileged position
Speaker 4: to be able to do those things, so they're pre allocated.
Speaker 4: That money's already put into other accounts that we can't touch.
Speaker 2: We can't talk about. And then if you have a mortgage,
Speaker 2: which I know is going to be a question that
Speaker 2: people will ask, one of the best things that you
Speaker 2: can do not advice. Just what my clients have been
Speaker 2: doing for a really long time is making that cash
Speaker 2: hub an offset to your mortgage, so that your cash
Speaker 2: that is laying in weight to be given a job
Speaker 2: is actually offsetting the money that you are meant to
Speaker 2: be paying on your mortgage, which means even when it's
Speaker 2: kind of laying in weight not doing anything at least,
Speaker 2: it's kind of working a little bit hard. If you
Speaker 2: don't have that system set up, you don't have a mortgage,
Speaker 2: that's totally okay. It could just be a savings account
Speaker 2: that you get paid into that might have some type
Speaker 2: of return at this point in time, not that likely,
Speaker 2: but it's a good idea. It's a good thing to
Speaker 2: think about. But every single dollar needs to be allocated
Speaker 2: for so regardless of whether you work monthly or you
Speaker 2: work fortnightly or weekly, or if you are someone who
Speaker 2: has a really inconsistent income. And I know lots of
Speaker 2: people in our community work casually and maybe over Christmas
Speaker 2: they take over heaps more shifts because they're UNI and
Speaker 2: they can do that, and then when they're back at
Speaker 2: UNI during the year, they can't do as many shifts.
Speaker 2: This system works for you as well because it tells
Speaker 2: us how much we spend each week, and we need
Speaker 2: to allocate to our spending fund. So what that looks
Speaker 2: like is going, okay, cool, I'm working my butt off
Speaker 2: over these Christmas holidays. I made triple what I usually make.
Speaker 2: That doesn't spend it. That doesn't mean you spend triple.
Speaker 2: That means that we actually have a baseline of spending
Speaker 2: that we know we meet and that cash hub might
Speaker 2: get a little bit juicier, at which point we go,
Speaker 2: all right, should I be you know, treating myself? We
Speaker 2: can treat ourselves sometimes that's absolutely okay, but we really
Speaker 2: to think of it like making Hey, while the sun
Speaker 2: is shining, So if you have some extra cash coming in,
Speaker 2: can we put it into an emergency fund? Can we
Speaker 2: put it into savings or an investment to get ourselves ahead,
Speaker 2: so that when we are back in the groove of
Speaker 2: things and we don't have that flexibility that we had
Speaker 2: over Christmas, can we actually make use of those funds
Speaker 2: then to take the pressure off in the way that
Speaker 2: you thought you were going to have those work for you.
Speaker 2: Does that make sense?
Speaker 5: That makes sense.
Speaker 2: That does make sense. So it's one of those things
Speaker 2: that I find really challenging to articulate via podcast, because
Speaker 2: like the way that I've always taught it is to
Speaker 2: you know, go all right, Beck, let's sit down and
Speaker 2: I'll draw out a cash flow system on a whiteboard
Speaker 2: and this is where this goes, and what are your values?
Speaker 2: How does this work? And maybe Beck and I will
Speaker 2: do that actually, because I've told Beck that I'll I'll
Speaker 2: do her budget and cash flow very soon.
Speaker 5: Thank you.
Speaker 2: Because you got a new job, you have to be
Speaker 2: on it.
Speaker 5: Oh, I need to be on it right now.
Speaker 2: I'm living people. We won't tell we won't tell people
Speaker 2: what you're earning, but we can talk about the system
Speaker 2: and I can teach. Sure might share that. That seems
Speaker 2: quite fun. And then so, Jess, what tips and tricks
Speaker 2: do you have as somebody who lives in the situation
Speaker 2: of being a monthly pay I actually quite like it.
Speaker 6: I don't know if I'm the anomaly here. I prefer
Speaker 6: monthly pay.
Speaker 2: Why.
Speaker 6: I think because I'm a very visual person. So for
Speaker 6: me at the start of the month, and I mean,
Speaker 6: the money is the same, right, whether you're being paid
Speaker 6: twice a month, once month, every week, whatever, it is,
Speaker 6: the amount of money that you have come in or
Speaker 6: at least in this situation for me personally, because I
Speaker 6: want a salary, it's the same, and so I really
Speaker 6: like that I have the full amount and I can
Speaker 6: then do my breakdown, which for the most part stays
Speaker 6: the same because I have my budget as my baseline.
Speaker 6: But if I go, oh, this month, I have two
Speaker 6: weddings and I want to buy address, or I need
Speaker 6: to allocate money for a gift, I can look at
Speaker 6: all of my money for the month as a whole
Speaker 6: and figure out what the impact is, Whereas I feel
Speaker 6: like if you're going week to week.
Speaker 2: Or fortnight to fortnight.
Speaker 6: I haven't had that for a really long time because
Speaker 6: I think monthly is more common in corporate work. But
Speaker 6: when I was doing that, I was always falling into
Speaker 6: the train of being like, oh, I'm going to spend
Speaker 6: this money and I'll just put extra back in next power,
Speaker 6: Whereas I think when you're going month to time, you're
Speaker 6: I'm not going to have any additional funds for four
Speaker 6: to five weeks, and I feel like that makes me
Speaker 6: better and being very visual. I've said this before, but
Speaker 6: I have accounts for everything that I spend on on
Speaker 6: the month. I have one for clothes. I have one
Speaker 6: for beauty, I have one for groceries, and I put
Speaker 6: my money in there for the month and I go,
Speaker 6: that's what I've got, And when that starts to get low,
Speaker 6: I go, oh, I need to pull my head in
Speaker 6: or I need to really think about my purchases. And
Speaker 6: that works for my brain. I guess, do you like
Speaker 6: monthly pay?
Speaker 5: I can definitely appreciate that.
Speaker 4: I think that I like seeing it as well as
Speaker 4: a whole and seeing, like, you know, I can pay
Speaker 4: my rent in one go.
Speaker 5: I don't have to be like, okay this week, you know.
Speaker 4: Yeah, so there are some bills that I like to
Speaker 4: just get out of the way, but then budgeting for
Speaker 4: the next few weeks, like this is what my fun
Speaker 4: fuel and what.
Speaker 5: Did you call it?
Speaker 1: Fuel?
Speaker 5: And fun food fuel and fine.
Speaker 2: I will set you up. I'm going to film me
Speaker 2: during the time.
Speaker 1: Yeah.
Speaker 5: I would really love that because right now I don't
Speaker 5: know what I'm doing. So I got you.
Speaker 4: I also feel like, do you think that we get
Speaker 4: paid more? This probably sounds ridiculous, but because we get
Speaker 4: paid monthly, it's like when you pay rent monthly, it's
Speaker 4: a little bit more than if you paid it weekly.
Speaker 5: So I feel like it's the same if you get
Speaker 5: paid monthly.
Speaker 2: It kind of works out that way and.
Speaker 5: A little bit more.
Speaker 2: Yeah, it depends on what system people work on, so
Speaker 2: Jess is system. I hope you don't mind me sharing this.
Speaker 2: I'm not telling people what you get paid, but moment
Speaker 2: is good. The way it works for us is two
Speaker 2: weeks sceinarrears and two weeks ahead, so it's never actually
Speaker 2: January's pay, if that makes sense, or February's pay. It
Speaker 2: falls in the middle of that month, and it's kind
Speaker 2: of like two weeks in aarrears, two weeks ahead and
Speaker 2: that that seems to work for us quite well. So
Speaker 2: for Jess, it would be consistent basically every time, or
Speaker 2: should be every time, just because of the way it works. Obviously,
Speaker 2: if someone is paying you quote on a monthly basis
Speaker 2: and you have to work an entire month and then
Speaker 2: get paid, February has twenty eight days, so that would
Speaker 2: be less, and then all the months that have like
Speaker 2: thirty one days, you'd get paid more. So it really
Speaker 2: depends on how your I guess bookkeeping works. But I'm
Speaker 2: going to say something really spicy that I don't know
Speaker 2: everyone is going to love. People who like monthly pays
Speaker 2: are usually more responsible when it comes to budgeting and
Speaker 2: cash flow makes sense.
Speaker 5: It's all checked it out.
Speaker 2: Yeah, So, like, if you're getting paid monthly and it
Speaker 2: stresses you out, I don't want to pinpoint, but more
Speaker 2: times than not, when I sit down with that person,
Speaker 2: I will find that they aren't across their budget. They
Speaker 2: don't know how much they spend. They don't know how
Speaker 2: they can save or how they can invest because they've
Speaker 2: never really done that before and they've always just operated
Speaker 2: out of I guess anxiety and gone, okay, well, they
Speaker 2: have all this money and I know that. You know,
Speaker 2: my rent might be twelve hundred dollars a month, so
Speaker 2: I can't spend that, and then it's a free for
Speaker 2: all for the rest of it. I'll just work it
Speaker 2: out and it'll be right. Oh it's a week until
Speaker 2: the end of the month. Oh crap, all right, Well
Speaker 2: I just won't go drinks with my friends. Like that's
Speaker 2: kind of how I find that might literally mean, but
Speaker 2: it's my experience with people who get paid monthly who
Speaker 2: maybe aren't on top of it, and it actually doesn't
Speaker 2: matter what you earn. You could be earning forty thousand
Speaker 2: dollars a year. You could be earning four hundred thousand
Speaker 2: dollars a year, and that same system is going to
Speaker 2: mess you up regardless. And I think a lot of
Speaker 2: people often think, oh, I don't earn enough, and if
Speaker 2: I do my budget, I'll feel really overwhelmed and this
Speaker 2: will really suck. It's not like that at all. You'll
Speaker 2: actually feel more empowered because you go, yep, sick, all
Speaker 2: my bills are there, this is what I can spend
Speaker 2: without getting into trouble. And if you're not on top
Speaker 2: of your budget and cash flow, ultimately you'll start spending
Speaker 2: more than your earning and you will end up in
Speaker 2: a pickle. So it's I don't know. I feel like
Speaker 2: budgets can be really restrictive and that's why people avoid them.
Speaker 2: But from my perspective, it's actually just a little bit
Speaker 2: of insight. How am I spending my money? Am I
Speaker 2: okay with it? It's not about comparison, it's not about restricting yourself.
Speaker 2: I don't restrict myself in my budget at all. Like
Speaker 2: I get really sick of people and I'm seeing a
Speaker 2: lot of tiktoks at the moment, I feel like I
Speaker 2: bring TikTok up every single Friday. But that's because that's
Speaker 2: where I live. I live on TikTok pricet. That's okay,
Speaker 2: that's okay, endrepment. But people like I save eighty percent
Speaker 2: of my income, no chance. But it's just not going
Speaker 2: to happen. Yeah, And I need to be really honest
Speaker 2: about that.
Speaker 6: Yeah.
Speaker 2: Yeah. If if you contese on the money to save
Speaker 2: eighty percent of your income, you do, you boo. But
Speaker 2: I will not be teaching you. It's just not going
Speaker 2: to happen because I'm not about restriction. I just think
Speaker 2: that that ultimately leads to burnout and putting yourself in
Speaker 2: a pickle position. But do you reckon? We've spoken too
Speaker 2: much about a budget and cash flow.
Speaker 6: I'm just so excited about it, and I believe it's
Speaker 6: been off for a little bit. But I'll turn it
Speaker 6: back on seeing as we're harping on about it right now.
Speaker 2: If you want to do the you guys get something
Speaker 2: out of the fact that you just listen to all
Speaker 2: of that.
Speaker 6: If you want to do the budget and cash Flow
Speaker 6: master Class, which is the system that I use. The
Speaker 6: budget we're going to get back on as well, and
Speaker 6: it comes with a very handy dandy automated budget that does.
Speaker 2: Your full second.
Speaker 6: It is pretty good and it does at all for you.
Speaker 6: If you're in a math scale like myself, very handy.
Speaker 6: Use the code pod fifty. I'll turn it back on today.
Speaker 6: It'll be up for three weeks and four weeks. Oh,
Speaker 6: she's generous.
Speaker 5: She's in a good mood. I know she's in bad
Speaker 5: mood again.
Speaker 6: Next four weeks. You knew the cod pop fifty because
Speaker 6: if you're paid monthly, then even if you're payday with today,
Speaker 6: you can work intor budget for next month.
Speaker 2: Yeah, okay, that seems quite kind of you. I'm not
Speaker 2: that nice, so I would have been like, oh, I
Speaker 2: forgot about the discount code yellow. Much nicer person than me.
Speaker 2: Let's move on though. How about we have a chat
Speaker 2: about our community concern which looked like this, Hey, v
Speaker 2: Jess and Beck.
Speaker 5: Oh dear, I feel a partner.
Speaker 2: I'm loving these chats and I'm hoping you can help
Speaker 2: me with my dilemma. I have an amazing group of
Speaker 2: girlfriends we met at UNI and have staid friends now
Speaker 2: into our twenties. However, my goals are starting to shift
Speaker 2: and I really want to save for a house. I
Speaker 2: told the girls that I want to stop going out
Speaker 2: and then in brackets because let's be real, a night
Speaker 2: out is bloody Spano and they've just been really annoying
Speaker 2: about it. They tell me you're only young once and
Speaker 2: don't be boring, But I genuinely don't care anymore about
Speaker 2: spending my money on a night out, and I get
Speaker 2: so much guilt when I look at my bank account
Speaker 2: the next day. How can I approach this with them?
Speaker 2: They are aware, so I need help. I understand it's
Speaker 2: been a bit of a pillar of our friendship, so
Speaker 2: I'm worried that they'll stop being so friendly with me.
Speaker 2: Please help kiss kiss.
Speaker 4: Many layers, many layers, like an onion, an onion, I
Speaker 4: would say, I know that, like my friends would never
Speaker 4: pressure me to go out.
Speaker 5: And you know, but I.
Speaker 4: Guess if you've good friends, yeah, good, Yeah, good friends.
Speaker 4: I have really good friends, and we all should have
Speaker 4: friends that don't pressure us to do absolutely not.
Speaker 2: Are they really a friend if they're pressuring you?
Speaker 1: Like me?
Speaker 4: But I also know there's this thing that you're only
Speaker 4: young once, you got to go out and live it up,
Speaker 4: and hopefully it's coming from a good place. Hopefully it's
Speaker 4: not just like, Hey, you're our fun drunk friends are
Speaker 4: You've got to come out all the time hopefully, Hey,
Speaker 4: I am that is.
Speaker 2: The way I am back. That's not true. I'm so annoying.
Speaker 2: I go out and I think this might be because
Speaker 2: I'm in my thirties. Now Jess can probably attest because
Speaker 2: she might be in her twenties, but she acts like
Speaker 2: she's in her thirties. Will go out and we'll be
Speaker 2: like John, a cocktail, Yep, you want a cocktail. Do
Speaker 2: you want to be in bed by nine? Yep? Want
Speaker 2: to be in bed by nine? Bye?
Speaker 6: The best. I think that's both worlds. Get me drunk
Speaker 6: and get me cozy in bed.
Speaker 5: Yeah, it's all cozy about some perfect Yeah.
Speaker 2: But we asked the community a few follow up questions,
Speaker 2: and one of them was have your financial goals changed
Speaker 2: in the past few years, and ninety five percent of
Speaker 2: people said absolutely, character development yep, and five percent said
Speaker 2: yeah nah, stay the same. So ninety five percent of
Speaker 2: our community, because that was a pretty good sample size,
Speaker 2: said yeah, no, we change. The next question we asked
Speaker 2: them was did you have any friends slash family that
Speaker 2: you felt you needed to justify these goals too, which
Speaker 2: I find really ick, Like that was why we asked,
Speaker 2: but I hate the idea that we feel like we
Speaker 2: need to justify ourselves. Fifty nine percent, so that's pretty good,
Speaker 2: said absolutely not. It isn't their business. But forty one
Speaker 2: percent of you said yes, it was something I felt
Speaker 2: was necessary. Ick. Yeah, And then we said, do you
Speaker 2: sometimes feel uncomfortable telling your friends you can't afford a
Speaker 2: night out because you're saving for something else? Forty percent
Speaker 2: said yep, twenty seven percent said no, my friends are
Speaker 2: really good with this, and then thirty three percent of you,
Speaker 2: so exactly a third said a bit of both. So
Speaker 2: I just find that, from my perspective, really interesting, especially
Speaker 2: because we are right now, we're sitting in a community
Speaker 2: or a room full of women who are very akin
Speaker 2: to finance conversations, Like if Jess said I can't afford that,
Speaker 2: I'd be like, yes, sick, Norris will work something out,
Speaker 2: Like it doesn't even cross my mind that there's a
Speaker 2: layer of judgment that might be there, Like I feel
Speaker 2: like if I said to you back something and you
Speaker 2: said no, I'd be like, yeah, right, nories, let's find
Speaker 2: a different solution, like it's not why not, Oh but
Speaker 2: you can't. I would feel horrendous And I feel is
Speaker 2: that starting to trickle into your friendship conversations Jess?
Speaker 6: Yeah, And I don't know, as you said, if it's
Speaker 6: an age thing, I would be really interested to know
Speaker 6: the ages of our and obviously we're do we get
Speaker 6: on Instagram story so like the dart is not perfect,
Speaker 6: But I think, what do you mean as you get older?
Speaker 6: I think, firstly you careless love that, but also I
Speaker 6: think those priorities really do have to shift, because I've
Speaker 6: had a friend within the last couple of months say
Speaker 6: to our group of girls, hey, like, is it all
Speaker 6: right if we ease back on the things that we're
Speaker 6: doing because our mortgage has gone up and we've got
Speaker 6: a kid and exactly, And every response immediately was, of course,
Speaker 6: what can we do? Come to our house, We'll cook you. Like,
Speaker 6: there wasn't even a beat of thought where you would
Speaker 6: ever say no, what are you doing? So I don't
Speaker 6: know if that's because as you get older, generally people
Speaker 6: do take on a little bit more of a financial burden.
Speaker 6: But also I think that the mindset of her friends
Speaker 6: sounds very like selfish, and that is again, something that's
Speaker 6: typical of all of us when we're really young, right,
Speaker 6: it's that no, I want you to be there because
Speaker 6: you are my best day and we have so much fun.
Speaker 6: We're gonna get drunk, were gonna do this, and we're gonna
Speaker 6: do that, and that is fine. But I don't think
Speaker 6: they're thinking about the impact that it's having on our listener,
Speaker 6: and that it is hard to be the person who's like, oh,
Speaker 6: I'm the boring one. And I was always the boring one, Like, oh,
Speaker 6: like I've got responsibilities or I've got things i want
Speaker 6: to do or whatever. But as you said, are they
Speaker 6: your friends, Because again, if you're young, and I'm making
Speaker 6: presumptions here, but you do tend to outgrow people like
Speaker 6: there are sometimes people who are just there for a
Speaker 6: season of your life, people that you would go out
Speaker 6: with at UNI, or people that you were in class
Speaker 6: at school with them. And I think that if you
Speaker 6: get to a place where your goals don't align, and
Speaker 6: if you get to a place where they're not willing
Speaker 6: to be flexible on their expectations of you, maybe they're
Speaker 6: just not the right people for you anymore. And that's
Speaker 6: not a bad thing.
Speaker 2: It's funny, isn't it? As you get older, and I
Speaker 2: guess now having been room my twenties, I reflect on
Speaker 2: it and it's just so interesting because I remember my
Speaker 2: mum saying to me, some of your friendships will actually
Speaker 2: end up being situationships and you might be like good
Speaker 2: friends with them because you both work at the same
Speaker 2: cafe and you text each other all the time because
Speaker 2: you've got this commonality between the two of you, and
Speaker 2: the second one of you leaves, the communication is just
Speaker 2: going to stop. You're not going to talk to each
Speaker 2: other ever again. Despite saying, oh my gosh, I talked
Speaker 2: to her every single day. I opened to the cafe
Speaker 2: with her at five am every morning. We were so close,
Speaker 2: when in reality, you just had something in common that
Speaker 2: bonded the two of you together. And I just find
Speaker 2: that so interesting because I was like in my late
Speaker 2: teens being like, whatever, these are my best friends for
Speaker 2: my whole entire life, and now I'm like, I do
Speaker 2: not want to surround myself with those people. What are
Speaker 2: you talking about? You are not like supportive or kind
Speaker 2: or whatever you are that I want to surround myself
Speaker 2: with now. And it's interesting because it can be heartbreaking
Speaker 2: at the same time because the loss of a friendship hurts,
Speaker 2: it can suck. But I'm not saying that that's what
Speaker 2: this you know, listener should go through. But I think
Speaker 2: it's just an interesting I guess segway into I guess
Speaker 2: conversing back again about just stick to your boundaries, like
Speaker 2: create boundaries with it and say, okay, cool, Well I've
Speaker 2: worked out my budget and I can probably go out
Speaker 2: like once a month, so you know, if there's a
Speaker 2: few things you want to do, let me know what's
Speaker 2: your fave, and like, I'll make sure that I come
Speaker 2: to that one, or even just sharing the goal be like,
Speaker 2: oh my gosh, I'm saving thirty thousand dollars and I'm
Speaker 2: going to be doing this over the next three years
Speaker 2: by saving ten thousand dollars in Oh my gosh, if
Speaker 2: you break that up, that's twenty seven dollars fifty a day,
Speaker 2: and oh my gosh, that just falls through your fingers
Speaker 2: so easily. I think really contextualizing it and I don't
Speaker 2: think anyone should justify anything to anybody. We've spoken about
Speaker 2: this on the podcast before. You do not owe anybody
Speaker 2: in explanation for anything, but as a people pleaser, I
Speaker 2: love doing that.
Speaker 5: Yes, so let's give you the tools to do that proper.
Speaker 2: But it is not an expectation. I think being able
Speaker 2: to quote justify it in a way and just say, hey, like,
Speaker 2: these are my goals, this is what I'm going to do,
Speaker 2: this is what I want to do. Well, maybe make
Speaker 2: your friends see that you are far more serious about
Speaker 2: it than Oh, she's just got in her head that
Speaker 2: she wants to buy a house. It's not going to happen.
Speaker 2: Whereas you know, walking the walk can often make people
Speaker 2: see that, oh, Jess is serious.
Speaker 5: Yeah, and they adapt to this new version of you. Yeah, yes, slowly,
Speaker 5: and we.
Speaker 2: Can all change and be different people and change our goals.
Speaker 2: Like ninety five percent of our community said that their
Speaker 2: financial goals have changed in the last few years. Yeah,
Speaker 2: and I think that's really cool. But then also, who knows.
Speaker 2: You might get halfway down this home buying journey and
Speaker 2: save half a deposit and be like, I don't want
Speaker 2: to do that anymore, and that's totally okay. I think
Speaker 2: we need to be accepting of that as well. But
Speaker 2: I just think friends should support friends. I think there's
Speaker 2: the difference between FOMO, like your friends just don't want
Speaker 2: you to miss out. And now I just really want
Speaker 2: Jess to come to the party. I just really want
Speaker 2: Jess there because I bloody love Jess. And then there's judgment,
Speaker 2: and I think those two things are very different, and
Speaker 2: I think that we need to be able to decipher
Speaker 2: them so that we don't feel like our friends are
Speaker 2: judging us for being you know, Oh my god, I
Speaker 2: can't believe dresses not doing that. She sucks so much.
Speaker 2: And oh, my friend actually just really wants me there.
Speaker 2: Maybe we could find a common ground. Why don't you
Speaker 2: come to my place before We'll have a wine while
Speaker 2: you get ready, and then you know, I'm not going
Speaker 2: to drink that much. I'll drop you to the train station,
Speaker 2: like I can still have that quality time with my friend.
Speaker 2: So I think really working out what the underlying driver
Speaker 2: of that conversation is is going to really help, because
Speaker 2: if it is judgment, get in the bin. But if
Speaker 2: it's not, it's really around. Oh, I just really want
Speaker 2: to spend more time with you, and I only have
Speaker 2: the weekends because I work all week. Ah, well, what
Speaker 2: could we do? How can we spend more time together
Speaker 2: in a way that services both of our goals?
Speaker 6: Yeah.
Speaker 5: Absolutely, that's a really really good point.
Speaker 4: And I think that if let's say this community member
Speaker 4: didn't actually say that they wanted to go out, still.
Speaker 5: They kind of are prioritizing saving money.
Speaker 4: But let's say hypothetically that's also a priority of theirs.
Speaker 4: You don't have to really go out and drink. You
Speaker 4: can maybe, I know this is really boring. You can
Speaker 4: go have a soda water or.
Speaker 5: Wrap that. Let's just have half water, or.
Speaker 4: You could just like have like house gallows. Try and
Speaker 4: shift it from going out house gatheros. She's always been
Speaker 4: way cooler.
Speaker 5: I thought gather was a lame word, but here we
Speaker 5: all know.
Speaker 2: I've just never been invited to a house gather. Thank you.
Speaker 4: I would love because that's a lot cheaper. You know,
Speaker 4: you grab a six pack of beers, you sit around
Speaker 4: a bonfire, it's so much cheaper. So maybe like just
Speaker 4: compromising with your friends and be like, hey, let's let's
Speaker 4: just go to mind this this weekend, or let's do something.
Speaker 4: Let's go to the park, Let's do something where we
Speaker 4: can buy drinks at is a you know, an alcohol
Speaker 4: store instead of going out paying twelve dollars per pint.
Speaker 5: As a about the bar.
Speaker 6: Kick somewhere that does a special like a lot of
Speaker 6: places will do two for one Tuesdays or stuff like that,
Speaker 6: like can you find if you really don't want to
Speaker 6: give up that experience of going out, if that is
Speaker 6: what you want to do, digger at Like most places
Speaker 6: these days will do like a just count night or
Speaker 6: a Ladies Night or something. Make the patriarchy work for you.
Speaker 6: Ladies night, cheaper drinks, sign me up.
Speaker 5: Absolutely.
Speaker 2: You guys are talking about alcohol and I'm over here,
Speaker 2: I'm like, oh yeah, like Taco Tuesday, sing out of ten,
Speaker 2: so it doesn't always have to be about alcohol. We
Speaker 2: could go get the cheap tacos right Absolutely.
Speaker 4: Cheap Tuesday at the cinemas, so good ten out.
Speaker 2: Oh cheap Tuesday. Forgot about that. That's a good one
Speaker 2: as well. And if you wear a big hoodie you
Speaker 2: can stink your snacks in And I don't care what
Speaker 2: people say. I will do that till I die.
Speaker 5: Absolutely.
Speaker 2: I think that's all we have time for today, though, guys.
Speaker 2: It has been a pleasure as always. Thank you for
Speaker 2: coming to our International Women's Day events. If you came
Speaker 2: to those.
Speaker 6: Happy International Women's Day Week.
Speaker 2: Yes, I'm making a month International Women's Month long. Yeah, like,
Speaker 2: I don't care what people say. We are rallying for
Speaker 2: that over the next few years. But have the best
Speaker 2: weekend and we'll see you guys on Monday.
Speaker 5: Bye, guys.
Speaker 6: Bye.
Speaker 2: The advice shared on She's on the Money is general
Speaker 2: in nature and does not consider your individual circumstances. She's
Speaker 2: on the Money exists purely for educational purposes and should
Speaker 2: not be relied upon to make an investment or financial decision.
Speaker 2: If you do choose to buy a financial product, read
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards
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