Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
Speaker 1: the Order Kerni Whaltbury 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. Hello, and
Speaker 3: welcome to She's on the Money the podcast what us
Speaker 3: that makes personal finance fun, especially on Fridays. It's our
Speaker 3: favorite day of the week because we get our very
Speaker 3: small team together and we celebrate you the incredible She's
Speaker 3: on the Money community. It's just agreed. She's back and
Speaker 3: she's sharing our favorite money wins. Beck, you're here and
Speaker 3: you've got a number of broke tips to share with us,
Speaker 3: which I know you've already got prepared on your phone.
Speaker 2: I do you do?
Speaker 3: And we are going to be helping to answer our
Speaker 3: money dilemma, which this week is all about how to
Speaker 3: research good investments and something that you slid into our
Speaker 3: dms about what you should do when your ex boss
Speaker 3: won't pay the super they owe you.
Speaker 2: We're going to war.
Speaker 3: Were right, We right back, Dawn, But before we get there, guys,
Speaker 3: how were your week?
Speaker 2: My week was good.
Speaker 4: I won't shut up to anybody who listened about the
Speaker 4: fact that my sister in lawge just had our second baby.
Speaker 3: Ye I'm like, the first thing I asked you when
Speaker 3: you got here it was how's Beck?
Speaker 2: How's the baby? Have you got more photos? So exciting?
Speaker 4: So I feel like we're just like loving had and
Speaker 4: like doing the fun thing where you know, when there's
Speaker 4: already one kid, you have to be really careful not
Speaker 4: to just shift all the attention to the new baby,
Speaker 4: because you.
Speaker 2: Know it's already a big shift for them.
Speaker 4: Mummy, he's doing really well. So my other nephew. For
Speaker 4: anyone listening, is he's just turned to. They were born
Speaker 4: six days apart, well two years and six days. Yeah,
Speaker 4: so he's just turned to. He's doing really well. Although
Speaker 4: we did try and get a photo of them together.
Speaker 4: I was designated Instagram mum obviously, and so we tried
Speaker 4: to het a photo of them together for the announcement
Speaker 4: for them to post on just Facebook and stuff. The
Speaker 4: ordeal that that was because they wanted to have you know,
Speaker 4: Spency holding his little brother.
Speaker 2: But then he didn't want to hold his little brother.
Speaker 4: He was too excited because they were balloons because it
Speaker 4: was his birthday.
Speaker 2: It was just a balloon out of him. Put the
Speaker 2: baby in.
Speaker 4: It was like it was a whole thing. But it
Speaker 4: was very key. He's doing really well.
Speaker 3: There's this really great photo one of my girlfriends has
Speaker 3: of her two kids together, you know her, and it's
Speaker 3: of her two year old holding their baby. But it
Speaker 3: looks like the two year olds kissing the baby on
Speaker 3: the forehead and it's so sweet that but he's usually
Speaker 3: licking the yogurt dog.
Speaker 2: That's a hack that actually is Maybe I should try
Speaker 2: where's the blob of yogurt on the newborn's head and
Speaker 2: the baby's like, yeah, my god, that's hilarious, so cute.
Speaker 3: Yeah, maybe that, or you could put like a cocoa
Speaker 3: pop or something on top of the I.
Speaker 2: Don't know, the doll of ice cream whatever to get
Speaker 2: the photo. It's a sweet tree. But they did, in
Speaker 2: fact get the photo. And that's that's all that matters.
Speaker 2: You just need one to that thing. Can I talk
Speaker 2: about five hundred and we got one?
Speaker 3: Oh my goodness, but that is so new babies, it is.
Speaker 3: It doesn't last long enough, like people tell you, you go
Speaker 3: so quickly, and like the fact that I now have
Speaker 3: a toddler is insane to me.
Speaker 2: Yes, should be illegal, he said, Boy, I hate it.
Speaker 2: I hate it. Here, how's your week being?
Speaker 5: Really nice week? Really nice week. I'm obsessed with baking bread,
Speaker 5: you guys. I'm literally sitting here thinking about, like I've
Speaker 5: got to get the bread rising as.
Speaker 2: Soon as we finished.
Speaker 3: In the process of baking bread, are we doing like
Speaker 3: homemade sourdow? Do we have a starter? Like what kind
Speaker 3: of slippery slope when it comes to baking? The thing
Speaker 3: is with sodo First of all, so controversial opinion.
Speaker 2: It hurts, It hurts to eat it, and I don't
Speaker 2: like it. But also hot tap like critchy up the
Speaker 2: top of your mouth. Respectfully, I disagree, but.
Speaker 3: That's like wow, like steaks, Yeah, she wouldn't need a
Speaker 3: steak knife to cut my bread.
Speaker 2: You shouldn't.
Speaker 5: And so I'm I and also you need like a
Speaker 5: living being, a sentient off human, and your.
Speaker 3: She didn't grow up on the wonder white like we did. No, okay,
Speaker 3: just babies here.
Speaker 5: I can see your eys. You've maybe had a wonder
Speaker 5: while or two in your time, but.
Speaker 3: You can't have a fairy bread on any other bread,
Speaker 3: no exact illegal. Oh yeah, absolutely imagine going up.
Speaker 5: Yeah, but I really am just doing like loaves of
Speaker 5: white bread. I'm trying to get the perfect loaf, just
Speaker 5: like your bakery bread. You know when you go in
Speaker 5: this like in that that clear packaging, it's like got
Speaker 5: blue and white.
Speaker 2: The loaf.
Speaker 5: The loaf just wants to be a blockloaf, queen.
Speaker 2: That's all I want in my life.
Speaker 5: And that's and it literally is like I always said.
Speaker 5: Last week was like maybe two dollars a loaf.
Speaker 2: This on sixty cents alone.
Speaker 3: Crazy, that is so good, plate foul this time, like
Speaker 3: my favorite bread if we're buying it at the supermarket,
Speaker 3: like I wish I could be like, oh, yes, it's
Speaker 3: this beautiful pumpkin sour from wood Frog Bakery, like we
Speaker 3: do buy that sometimes, mainly for my husband. So it's
Speaker 3: the block loaf, the white block loaf. From Baker's Delight.
Speaker 3: Give me a block loaf any day of the week.
Speaker 3: The whiter the bread the better, like the softer the
Speaker 3: read the better. Absolutely nothing like slash bread. You work
Speaker 3: at Baker's Delight and can teach us how to make
Speaker 3: a block loaf. You slide into our d ms.
Speaker 2: And also the cheese roll. I love that cheese.
Speaker 3: Oh ye good yet edge you might yeah, okay, I
Speaker 3: think the next one will be puff pastry.
Speaker 5: You know it's a thirteen hour process. But anyway, as
Speaker 5: a sorry for another time, I know.
Speaker 2: We don't have time for this right now.
Speaker 5: Yeah that that always is better actually, even the homemade
Speaker 5: ones that.
Speaker 2: You're making your own bread. Yeah, that's so wow. I
Speaker 2: sound so boring. I promise I'm sorry for it. I
Speaker 2: tell about my toddler.
Speaker 6: Yeah.
Speaker 2: So it's been like a gorgeous, wholesome week. I love that.
Speaker 2: What about you?
Speaker 3: Oh my goodness, it has been a circus. What have
Speaker 3: I done this week? I've just done a lot, like
Speaker 3: just work, stuff like Zella stuff, Zella stuff, Zella stuff.
Speaker 3: There's just so many like in the best possible way,
Speaker 3: first home buyers. I think that there's been an increase
Speaker 3: in interest in people getting into their first time homes
Speaker 3: after the interest rate cut, which is obviously really exciting.
Speaker 3: But now because it's what like the twenty eighth of March,
Speaker 3: all of the banks have now passed on the interest
Speaker 3: rate cut. So that took a little bit from when
Speaker 3: the Reserve Bank like told everyone, oh, we're cutting the
Speaker 3: interest rates, like, it took a bit for the banks
Speaker 3: to actually pass that on to consumers. And now we
Speaker 3: are able as brokers to write those loans, which is
Speaker 3: really cool.
Speaker 2: But it's just a lot busier at work, so.
Speaker 3: I'm spending a lot of time in the office. I
Speaker 3: love our office though. The vibes are high and the
Speaker 3: coffee is really good, so gorgeous out of ten. Also, Alisha,
Speaker 3: who's on our team, she brought in. She's the one
Speaker 3: that has the EMU symblings that I told you about
Speaker 3: last week. Yes, she brought in the ice maker that
Speaker 3: we used to have at our old office. So now
Speaker 3: we have ice maker in our office for the crispiest
Speaker 3: of crispy cokes.
Speaker 2: In the afternoon. Oh yeah, do you know what? I
Speaker 2: want so bad?
Speaker 4: And I'm trying to resist because all the after payday
Speaker 4: sails are out.
Speaker 2: I really want a ninja slush year. This is about you.
Speaker 4: I'm trying to like see if there's going to be
Speaker 4: like a twenty percent cash back or something.
Speaker 3: Yeah, yeah, yeah, yeah, but yes, what are you going
Speaker 3: to make with a ninja slushy?
Speaker 4: PEPs like, oh my god, frozen PEPSI Max just every day,
Speaker 4: every day I feel like it would be really good
Speaker 4: for like little watermelon mint drinks or.
Speaker 2: Like a cute lemons.
Speaker 4: I can never pronounce it scorppino, like oh yeah, yeah,
Speaker 4: yeah yeah, nice, Like running on my loop. I'm checking
Speaker 4: like every day the cash back platforms.
Speaker 2: To see I'm obsessed.
Speaker 3: I hate to do this to Jessica as well, because
Speaker 3: I have this is probably one of the boogiest purchases
Speaker 3: they ever made. It's not even designer, but I have
Speaker 3: at my house a Nugget ice maker.
Speaker 2: Nugget ice Maker.
Speaker 3: So the teeny tiny little ice young Kit and I
Speaker 3: fell in love with it when we were in the
Speaker 3: US and where were we Where was it? Chick file
Speaker 3: A They had Snugget and I was like, I need this,
Speaker 3: Like how.
Speaker 2: Do I get this? And that was the slipperiest of
Speaker 2: slippery slopes.
Speaker 3: Yeah, it turns out you can't get nugget ice in
Speaker 3: Australia unless it's commercial. So when I say bougie purchase,
Speaker 3: it's because I spent so much money on this, I
Speaker 3: would say ADHD hyperfixation. It was all I thought about,
Speaker 3: it was all I googled. I bought a nugget ice
Speaker 3: maker from the US. Okay, okay, okay, I had it
Speaker 3: shipped to Australia. I don't actually want to ever admit
Speaker 3: to anyone how much money I spent on that, because
Speaker 3: it is it's not. Okay, Jessica, was it worth it?
Speaker 3: I would absolutely, yeah, thank you, thank you. I just
Speaker 3: needed that validation. I also had to buy like one
Speaker 3: of those power converters because it's an American machine and
Speaker 3: they work on what is it, one hundred and ten volts.
Speaker 3: We are two twenty, so it's like a full power converter.
Speaker 3: It's not just like one of those things that goes
Speaker 3: into the wall. It's a box like and it was wow,
Speaker 3: that is dedicated. Yeah. So we have a nugget ice
Speaker 3: maker at my house and every time jess comes to
Speaker 3: my house, she brings her drink poddle and fills it
Speaker 3: up with nugget ice, and like the second she gets
Speaker 3: to my house, I'm like, Nuggi ice coke, and like
Speaker 3: we have nugget ice coat. It's like a thing for us. Right,
Speaker 3: you can now get a nugget ice makers in Australia.
Speaker 3: You can now you can Now you could have a
Speaker 3: nugget ice maker at your house.
Speaker 2: Oh well, now it's like which one do I buy
Speaker 2: a slash maker on a nugget ice maker.
Speaker 3: But that's why I like, literally when just says, oh,
Speaker 3: there's a slushy maker, I'm like, I'm actually not allowed
Speaker 3: that because I actually spent my entire budget for the
Speaker 3: rest of ever.
Speaker 2: On kitchen appliances. On an icemaker.
Speaker 3: I actually ye knew, like what is it like the
Speaker 3: spaghetti utensil?
Speaker 2: But I'm not going to buy one.
Speaker 3: You don't deserve your kitchen story, Victoria, you have an
Speaker 3: ice maker?
Speaker 2: Yeah, not allowed anyway.
Speaker 3: So that's where we're at. Jessica, would you light a
Speaker 3: five star review? I certainly would feel like it's going
Speaker 3: to bring the mood up. So this week we have
Speaker 3: a five star review from Tea So just love, love,
Speaker 3: love The girls make personal finance, business and property just
Speaker 3: so digestible and interesting. In the last eight months of listening.
Speaker 3: I've binged almost every single episode and look forward to
Speaker 3: my drive to work knowing I'll be listening to them.
Speaker 3: The Jess and Beck always bring a unique perspective to
Speaker 3: each dilemma and topic, as it's just so refreshing to
Speaker 3: have these quote boring or sometimes complex topics discussed in
Speaker 3: an accessible way that normalizes the conversation of money and finances.
Speaker 3: It's enabled me to be more transparent with my partner,
Speaker 3: my friends, and my family, and I feel like I
Speaker 3: am in the healthiest financial position I've ever been in.
Speaker 2: Oh so cute. The fact that.
Speaker 3: Someone said I'm in the healthiest financial position I've ever
Speaker 3: been in. Yeah, and I'm so happy we can keep
Speaker 3: you company on your drive to work is low key
Speaker 3: really cute.
Speaker 4: It's not to think about where people listen, like if
Speaker 4: I can get where I listen to things in my
Speaker 4: headphones or like in the car. It's like people are
Speaker 4: probably like wearing some mon holes right now and they're
Speaker 4: doing are there.
Speaker 3: And it's like, I don't know, I feel really lucky
Speaker 3: because it's such an intimate form of media to consume,
Speaker 3: because like you're not usually putting a podcast on in
Speaker 3: the background, like, oh, you're not usually putting a podcast
Speaker 3: on to like watch maths and your husband's sitting on
Speaker 3: the couch next to you. You're usually doing it on
Speaker 3: your own, your own in the car, or you're on
Speaker 3: your own doing the dishes. As you said, yess And
Speaker 3: I just I love that it's just as us.
Speaker 2: You're mere.
Speaker 3: Maybe yeah, Jessic Carr, you've fully engrossed in the Facebook.
Speaker 2: Group this week.
Speaker 3: Other highlights, Oh righty, So, first of this week, I've
Speaker 3: got the money in from Julia, who said she paid
Speaker 3: off her personal loan after sixteen years of constantly borrowing more. Wow,
Speaker 3: she's committed to living within her means and she paid
Speaker 3: it off a few months early. She's so proud of
Speaker 3: herself and can't wait to enjoy more financial freedom and
Speaker 3: building up her emergency and savings funds.
Speaker 2: Sixteen years that would be so good.
Speaker 3: That's one of those times where you genuinely deserve someone
Speaker 3: to jump out of a wall or cape, cupboard cake
Speaker 3: like with balloons and streamers and a champagne.
Speaker 4: Seriously, why I say well done, Julia. I feel like
Speaker 4: it must have been a long slog, but we're so.
Speaker 3: I'm so excited for you because, like it's only up from.
Speaker 4: Here, exactly right. Next, I've got money in from Piarege,
Speaker 4: who said money win. My daughter turned three on the
Speaker 4: weekend and all she wanted was a rainbow cake. My
Speaker 4: mom suggested the home brand cake mix, which is a
Speaker 4: dollar a packet, and then you know, doing a little
Speaker 4: sprucing up of it if you will. The cake ended
Speaker 4: up costing ten dollars out of pocket total for the
Speaker 4: cake mix, butter, icing, sugar, etcetera. And the rest of
Speaker 4: it was in her pantry. Normally she'd spend between sixty
Speaker 4: and one hundred dollars on a birthday cake. An absolute winner.
Speaker 4: And she put a really cute little picture of this.
Speaker 2: Beautiful lady bakery. It looks like very good.
Speaker 4: I have ten dollars, very nice, absolute money win. Next,
Speaker 4: I've got a money in from Kerry, who said she
Speaker 4: did her shopping and came out to the car and
Speaker 4: found that someone hadn't bothered to take their trolley back.
Speaker 2: The worst kind of people. But I had money and
Speaker 2: it didn't it. She took it back. She got herself
Speaker 2: an extra door.
Speaker 3: I don't know if I will ever be in a
Speaker 3: money mind frame where I could just leave that point
Speaker 3: at what point are you so rich that you just
Speaker 3: go I don't want to take my trolley back and
Speaker 3: get my gold coin back.
Speaker 2: Never, I say, I just I'm not there yet. Maybe
Speaker 2: I'm just not peaked. But it's also just kind of
Speaker 2: you just put it back. It's not that high. I'm
Speaker 2: judging you me too. I'm sorry.
Speaker 3: I'm judging you if you're not putting your trolley back,
Speaker 3: if you haven't got a good reason. But if you're
Speaker 3: just lazy, no, I'm judging ye, not good at all,
Speaker 3: judging you hard.
Speaker 2: Bye. Agree.
Speaker 4: Next, I've got a money win from Nicole, who said
Speaker 4: she followed Back's advice from Friday Drinks a couple of.
Speaker 2: Weeks ago, which one she wasn't driving. In fifth.
Speaker 4: Want advice, she replaced her shower head that had been leaking,
Speaker 4: and it turned out it had a massive crack, not
Speaker 4: just a leak. Luckily, Aldie had a plumbing sale. She
Speaker 4: got a new shower head, pipe, wrench and plumbing tape
Speaker 4: from Bunnings and it was less than sixty dollars.
Speaker 2: Yeah what, I love that?
Speaker 3: Incredible with the goods mid middle plumbing sales of course,
Speaker 3: plumbing sale. Are you going to the snowback you can
Speaker 3: get sky gear. Oh this week we're doing demolition like anything.
Speaker 2: Ever, anytime I.
Speaker 3: Go into Audi, yeah, because like it's not my main
Speaker 3: shop at the moment, just because of like proximity to
Speaker 3: a supermarket, I have to check out the middle aisles.
Speaker 2: Like it's a ride of passage.
Speaker 3: Like I went in for a chocolate the other day
Speaker 3: and I was like, better check out the middle aisle.
Speaker 2: Yeah, it's a right of passage. You have to tweaked
Speaker 2: it's my favorite tweet. They do like this.
Speaker 4: They have all these Dutch snacks. There's all these cookies
Speaker 4: that my grandma's.
Speaker 2: Next time they do Nicolins. Are proud of you. Yeah,
Speaker 2: really so happy. I love I reminder, just google it,
Speaker 2: just google it.
Speaker 3: Could be I'm going to get bracelets made up and
Speaker 3: they'll do w W B D and it's what we're
Speaker 3: bet to do, and then we should consider whether we
Speaker 3: should do that or not.
Speaker 5: Except yea trust sometimes it'll be helpful because it's like, oh,
Speaker 5: I'm going to do the opposite.
Speaker 2: Sometimes I didn't say what would Beck do? And then
Speaker 2: just do that. It's an entertaining question, what would Beck do?
Speaker 2: Let's think about that. Yes, yes, yes, fun little prompt.
Speaker 4: And then last week I put the money in from
Speaker 4: Tracy who said she was looking at purchasing a new
Speaker 4: bag recently, and she ducked into an opshop before an
Speaker 4: appointment and managed to find herself an almost new Origin
Speaker 4: bag for four dollars in exactly the size and color
Speaker 4: she wanted.
Speaker 2: That is wow, so good. The shop gods were smiling
Speaker 2: on her.
Speaker 3: Oh, I love it. That's a good place to leave it.
Speaker 3: For the Facebook group this week, beck yes broke tips.
Speaker 3: What do you bring into the table? You've got three?
Speaker 3: As always I do, I do, okay.
Speaker 2: So there are two from the community.
Speaker 5: The first one comes from I don't know their name,
Speaker 5: but their instagram is yollipops, which is very cute.
Speaker 2: They say, keep napkins from your takeaway. They've accumulated so
Speaker 2: many napkins they kind of like double as apra towels.
Speaker 2: Oh that's such a great idea, right, and just throwing
Speaker 2: them out to.
Speaker 5: Yes, exactly, I prefer those little You know that they're
Speaker 5: quite thick, aren't they, those folded napkins.
Speaker 7: Yeah, you just go and even if if you get one,
Speaker 7: you just go over and oh, just grab a few
Speaker 7: more and then you just take them, you take them home,
Speaker 7: and there's something really aesthetically pleasing about accumulating coasters napkins
Speaker 7: from all different places.
Speaker 2: So great call.
Speaker 5: The next one comes from Naomi, who says, take the
Speaker 5: free DFO shuttle from South Wharf to the airport instead
Speaker 5: of the skybus.
Speaker 2: Excuse me, worry, I didn't even know it was no
Speaker 2: DFO shuttle from South Wolf to the airport. You reckon? Yeah,
Speaker 2: like not to the Essendon DFO, I would not think
Speaker 2: so to the airport. Yeah, that's low key genius.
Speaker 3: I know, I know getting public transport is expensive there.
Speaker 3: I would say the skybus is like semi reasonable, but like.
Speaker 2: Free, you can't compete with free.
Speaker 5: No, no, you can't compete with free exactly, So I
Speaker 5: don't know it was.
Speaker 2: Like twenty bucks.
Speaker 5: Maybe that was back in my heyday.
Speaker 2: One way. I actually haven't caught the skybus in a
Speaker 2: long time.
Speaker 5: I mean I never fly, so I haven't, but I
Speaker 5: think it was around that much. But like free is
Speaker 5: better than especially if you're like, if you're going on
Speaker 5: a trip, you're spending so.
Speaker 2: Much money already, so you don't want to spending extra.
Speaker 2: But the value car park is like twelve bucks a day. Huh. Anyway,
Speaker 2: my broke tip for this week. I don't know if
Speaker 2: you guys remember my dupe one from a while back.
Speaker 3: Yeah, we were here, We were actually right here, yeah, couch.
Speaker 5: And I do always want to preface these things by
Speaker 5: saying I don't encourage buying. I guess like maybe knockoffs
Speaker 5: or replicas of things from like artists who have you know, Oh,
Speaker 5: I think you know, if you can afford it, pay
Speaker 5: for the original. But anyway, if you can't, if you're
Speaker 5: just trying to get by, there is another URL I'm
Speaker 5: going to give you.
Speaker 2: So it's called check Benny.
Speaker 5: Let's see how h E C K B E n
Speaker 5: I dot com slash forward slash. You put that before
Speaker 5: the U r L. Say you're looking at a h
Speaker 5: what's that thing? Neutribe all sash slash and ninja slushy.
Speaker 5: If you chuck that before the r L when you're
Speaker 5: like on whatever page you're on, it may find you
Speaker 5: a nice dupe.
Speaker 3: I haven't how I feel about dupes for electrical appliances.
Speaker 5: Yeah, I don't know how I feel about loking for trouble.
Speaker 5: The example they had was a pair of red boots.
Speaker 5: So maybe do something that's less fashion or fashion jewelry, yeah,
Speaker 5: maybe furniture.
Speaker 3: Yeah, things like that interesting, so that if you found
Speaker 3: or you just learned about it and thought that was cool.
Speaker 2: I just learned about it. I thought it was cool.
Speaker 2: But we we'll trial it out and see how it goes. Yeah,
Speaker 2: I'm really I really want one of those.
Speaker 5: I don't know, they're really old, but those mushroom lamps
Speaker 5: like from Dennis did it?
Speaker 1: Oh?
Speaker 2: Yeah, So maybe I'll do that. We'll try that. We'll
Speaker 2: keep an eye out, keep it. I'll find you one.
Speaker 2: Thank you so much.
Speaker 3: I don't think I'll be able to find one in
Speaker 3: the same way i'll be able to find a ninja
Speaker 3: slushy though. I'm sorry, Jess, I don't think that's something
Speaker 3: that's going to pop up in the options.
Speaker 2: I'll keep holding out.
Speaker 3: We've got you, all right. Let's go to a really
Speaker 3: quick break on the flip side. We're going to be
Speaker 3: having a chat about I'm so excited about this because
Speaker 3: you guys have asked how do I research the best investments?
Speaker 3: But then also we've got a DM this week about
Speaker 3: what to do when your boss isn't paying your super
Speaker 3: or your ex boss isn't paying your super and you're
Speaker 3: going one down. So let's go to a really quick
Speaker 3: break and on the flip side, I'm probably gonna lose it.
Speaker 2: Welcome back, everybody. Let's take a listen to this week's
Speaker 2: money dilemma.
Speaker 3: Hi, there, have you got a money dilemma you just
Speaker 3: can't solve? The Sheese on the Money team is here
Speaker 3: to help. Every week we tackle your dilemmas, both big
Speaker 3: and small, to answer your most burning money, career and
Speaker 3: life questions. To get involved, simply head to our web
Speaker 3: site and leave us a short voice recording and you
Speaker 3: might just find yourself on the show. Now, let's take
Speaker 3: a listen to this week's money dilemma.
Speaker 6: I am a new investor in Australia. I'm twenty three
Speaker 6: years old. I want to know where to invest for
Speaker 6: long term goals that is safe and secure, and where
Speaker 6: I should invest for short term goals and what platforms
Speaker 6: I should use to invest, Which are the best platforms,
Speaker 6: Just like a real that states everything easily and not
Speaker 6: giving financial advice, but just making it giving me the
Speaker 6: best options or like where to research this stuff.
Speaker 3: You know, I realize that's such a hard one because
Speaker 3: like I get that you know that I can't give
Speaker 3: you financial advice, but then you're like, what's the best
Speaker 3: safest option for a long term investment? And I'm like,
Speaker 3: if I could tell you legally, I would, But the
Speaker 3: reality of that situation is that the right long term
Speaker 3: investment for different people is different. Because even if there
Speaker 3: was a one size fits all approach, which I wouldn't
Speaker 3: be allowed to tell you about anyway, the reality is
Speaker 3: I don't know your risk profile. You know, you might
Speaker 3: be more akin to investing in term deposits and bonds,
Speaker 3: not investments as in the share market. And even if
Speaker 3: you were, you know, let's say you, Jess and Beck,
Speaker 3: you both have decided to see a financial advisor, and
Speaker 3: you both have like five thousand dollars, let's pretend to
Speaker 3: invest your investment profiles, and your portfolios might come out
Speaker 3: completely different because just your long term goals, I know,
Speaker 3: from knowing you well enough, you want to buy property,
Speaker 3: you want to you know, do all these other things.
Speaker 3: And then Beck, on the flip side, you might be like,
Speaker 3: I just want you to lock it away and like
Speaker 3: I don't want to be able to access it, and
Speaker 3: those two things are quite different. And the portfolio we
Speaker 3: would create is very different, and I think that's why
Speaker 3: I'm really passionate about investing in Australia. And I mean,
Speaker 3: if you're talking about picking a platform, there are so
Speaker 3: many safe platforms. How can you adore chare Zy's Like
Speaker 3: you've probably seen it a million times. And someone the
Speaker 3: other day messaged me and they're like, hey, v have
Speaker 3: you heard of chair Z's And I.
Speaker 2: Was like, yeah, like once or twice.
Speaker 3: Don't mean to be rude, but you haven't ever listened
Speaker 3: to one of my podcasts, have you? And they were like, no, no,
Speaker 3: just on your Facebook group And I was like, okay, cool,
Speaker 3: that's where I ran about them. So am I recommending that?
Speaker 3: Absolutely not, But like it's just one of the most
Speaker 3: popular in our community. And luckily in Australia, our government
Speaker 3: is pretty strict on what they accept and what they don't.
Speaker 3: So if an investment platform is allowed to operate in Australia,
Speaker 3: they aren't a scam, Like they just aren't. Are their
Speaker 3: fees amazing? Maybe not, Like we're not talking about Shazy's anymore,
Speaker 3: We're just talking about random platforms. But like, does it
Speaker 3: mean that they're all, you know, equal, No, but you're
Speaker 3: not going to get scammed if it's an investing platform
Speaker 3: that's accessible in Australia. So the first thing would be
Speaker 3: picking a platform, and then it would be about picking
Speaker 3: an investment, and there's so many things to consider, and
Speaker 3: it's probably a very good time for me to remind
Speaker 3: people that the doors to my Investing Masterclass now open,
Speaker 3: and that's where I teach you literally how to create
Speaker 3: a financial plan for yourself from you know, the very
Speaker 3: beginnings of understanding your money story all the way through
Speaker 3: to rebalancing a portfolio once you have it. Like, I
Speaker 3: teach you everything, and I can't do that in a
Speaker 3: podcast because I needed graphics and downloadables and workbooks and
Speaker 3: cheat sheets and like quizzes and like all of this
Speaker 3: stuff that I was like, I actually need you to
Speaker 3: like walk the walk before you actually go and do this.
Speaker 3: So for me, I would say, I can't tell you,
Speaker 3: but I can teach you, like and even in my
Speaker 3: Investing master Class, I don't tell you what to do,
Speaker 3: but I do do comparisons of the most popular ETFs
Speaker 3: in Australia and what might work for you the most
Speaker 3: popular shares all of that stuff. But yes, if you're interested,
Speaker 3: maybe the investing master class is few and it's open
Speaker 3: at the moment, it's just opened for short.
Speaker 5: M Oh yeah, it would be like high interest savings
Speaker 5: would be or term deposit.
Speaker 2: Yeah.
Speaker 3: Look, I don't think that investing for short term goals
Speaker 3: is smart, especially in our current economy. I'm definitely a
Speaker 3: put it in a high interest savings account, but to me,
Speaker 3: that's not an investment. That's you putting it in a
Speaker 3: high interest savings account. And there's a difference between savings
Speaker 3: and investments. So for me, savings are for short term
Speaker 3: and then investment.
Speaker 2: Is for long term. Yep, got you got you got
Speaker 2: to check out our investing playlists.
Speaker 4: We've done over forty episodes, including we did one on
Speaker 4: crea couple. Yeah, just a few over the forty episodes,
Speaker 4: that's like an entire work week of me.
Speaker 2: Yap and about investment, probably more see it's free. Will
Speaker 2: link the players in the show notes.
Speaker 4: I know we've definitely done one on how to create
Speaker 4: your perfect portfolio, which might be helpful for you to
Speaker 4: have a look at lots of resources. I know that
Speaker 4: you said you wanted a real but realistically, the level
Speaker 4: of education that you're seeking isn't something that you could.
Speaker 2: I would have loved to make it real seconds.
Speaker 3: I would have loved to been able to put all
Speaker 3: of that into a real but unfortunately I can't. So
Speaker 3: I did a whole investing masterclass with hours of video
Speaker 3: content for you, because that's actually what you need to
Speaker 3: answer that question. Yeah, gorgeous guys, would you like the
Speaker 3: DM of this week?
Speaker 5: Yes?
Speaker 2: Pee, this is where I'm probably gonna lose it. Are
Speaker 2: you ready?
Speaker 3: So DM this week says Hi, she's on the money.
Speaker 3: I have a money dilemma for you. So, my old
Speaker 3: boss has only paid some of my super and I
Speaker 3: was quit. I was laid off by mutual agreement about
Speaker 3: two years ago. We're still friends and talk regularly. She
Speaker 3: owes me about five thousand dollars in superannuation, and I've
Speaker 3: brought it up multiple times. She's a sole trader and
Speaker 3: is now working full time and only does her business
Speaker 3: part time. Now. I text her regarding this situation almost
Speaker 3: two weeks ago now, and I haven't heard anything from
Speaker 3: her at all. I don't want to ruin our friendship.
Speaker 3: But at the same time, she owes me five and
Speaker 3: I've already lost two years worth of growing my super.
Speaker 3: How would you handle this? Situation.
Speaker 5: Oh, this is really tricky. It's tricky because they are
Speaker 5: still friends. I feel like it'd be less tricky if
Speaker 5: they didn't even have any communication because legally she has
Speaker 5: to write that's the thing, So it's not even five
Speaker 5: thousand dollars that she owes. It's probably like the way
Speaker 5: more now because like the amount of.
Speaker 3: Interest, like if you went the legal route and framed it,
Speaker 3: you'd be also claiming interest that you missed out on.
Speaker 2: Incredible.
Speaker 5: I guess it's really tricky because is someone that you're
Speaker 5: in touch with, So if you do go the legal route,
Speaker 5: it's like you could say goodbye d friendship maybe unless
Speaker 5: they're like really.
Speaker 2: Chilling, like, oh, it's fair enough. I probably deserve that,
Speaker 2: which would be really nice.
Speaker 5: But I think that, you know, usually our answers communication
Speaker 5: is key, but it seems like communication is not working here.
Speaker 5: It seems like you're very comfortable already bringing this up
Speaker 5: and they're just not responding. I would probably say something
Speaker 5: to the effect of, unless you've tried it already, I
Speaker 5: really like you as a person, obviously, I think for
Speaker 5: my own sanity and for your own like the you know,
Speaker 5: if this goes on every single year, they're going to
Speaker 5: be owing more and more. But if they just give
Speaker 5: the money right now, then the interests they're accumulating, that's
Speaker 5: taken care of. But if they pay in ten years,
Speaker 5: they're gonna have to pay the interests as well.
Speaker 2: It's like this debt is getting bigger.
Speaker 5: So just just explain to them that, like, if they
Speaker 5: pay now, it really it's still quite you know, it's
Speaker 5: a lot of money, but unfortunately they literally have to
Speaker 5: I don't know. It really is tricky because you are
Speaker 5: you know, you don't want to ruin this person's life
Speaker 5: and you don't want to make them anxious, but they
Speaker 5: do legally you have to pay that.
Speaker 4: Yeah, I think that, like, given it's been raised a
Speaker 4: couple of times, I know that you're still friends. So
Speaker 4: I would probably just send almost like a final message
Speaker 4: and just say, hey, I've tried reaching out to you
Speaker 4: a few times about this. I'd really hope that we
Speaker 4: could sort it out between us. However, I need to
Speaker 4: put myself and my financial future first, and I know
Speaker 4: that legally I'm entitled to this money. Can you get
Speaker 4: in touch with me to sort it out? If not,
Speaker 4: I will be processing a claim through whatever the government platform.
Speaker 4: Is so giving them a heads up of the action
Speaker 4: I'm going.
Speaker 3: To be forced to do, yes, like you have to.
Speaker 3: I'm so sorry, but I have to do it.
Speaker 4: Yeah, you're not going to blindside them. You're giving them
Speaker 4: the heads up. You're also, I guess, kind of showing
Speaker 4: them that you're really like serious about this.
Speaker 2: I like that approach.
Speaker 4: You shouldn't have to be chasing them really, and I
Speaker 4: understand that your friends, but if they were your friend,
Speaker 4: friends don't do that. Yeah, And I think that it
Speaker 4: was one thing if they were you know, they didn't
Speaker 4: have the money and they were really stressed about that,
Speaker 4: But then they need to be communicating that back and
Speaker 4: ultimately it's actually not your problem. Like that sounds really harsh.
Speaker 2: It's not. But what about putting yourself first is harsh?
Speaker 3: Well?
Speaker 4: Yeah, and they have as an employer, they took on
Speaker 4: responsibilities and part of those responsibilities was ensuring that their
Speaker 4: employees looked after, paid their entitlements, et cetera, et cetera.
Speaker 4: And so I think, yeah, the best thing to do
Speaker 4: send one more message. I know that you just sent one,
Speaker 4: it hasn't been replied to, but just sending a final
Speaker 4: one letting them know what steps you are going to take,
Speaker 4: and then the balls in their court if they continue
Speaker 4: to ignore it, just process the government claim because once
Speaker 4: you process the government claim, it puts into motion like
Speaker 4: an official inquiry type thing, and they will have to
Speaker 4: pay it.
Speaker 2: Yeah.
Speaker 5: Do you know if they can pay in installments, because
Speaker 5: that's an option if you're like, hey, this is easier
Speaker 5: for you if that just do this, that's not your problem. Yes,
Speaker 5: that's something that they can come back and negotiate with you.
Speaker 5: But I don't think you should have to do it.
Speaker 3: And to build on Jesses, which I do think is
Speaker 3: a really good idea, I'd make it as easy as
Speaker 3: possible for them by going to remind you this is
Speaker 3: the account number and my BSB to make the payment,
Speaker 3: and you can do that via be pay and this
Speaker 3: is the reference and the like. I know that that's
Speaker 3: a bit more work for you, but I'm assuming that
Speaker 3: she'll be like, oh, I don't have the information in
Speaker 3: front of it, Like you are removing any excuse for
Speaker 3: that not to be paid. And if she can't make
Speaker 3: the payment then and there that's her opportunity to say, hey,
Speaker 3: I don't actually have the cash. Can I do a
Speaker 3: thousand dollars a month or something, at which point you
Speaker 3: could accept or declinb that get it in writing, getting
Speaker 3: it in writing.
Speaker 2: But I would also I don't know.
Speaker 3: I just don't think friends do that to friends that's
Speaker 3: not a friend, Like a friend doesn't do that to
Speaker 3: somebody and then still happen, Like I cannot imagine oweing
Speaker 3: somebody money in that capacity where they're consistently being like, hey,
Speaker 3: you owe me super, can you please pay it?
Speaker 2: And then just like still texting Jess being like, hey,
Speaker 2: what are you up to on the weekend? Yes, very strange,
Speaker 2: so weird.
Speaker 3: Like that makes me so uncomfortable because I feel like
Speaker 3: it's just me blatantly disrespecting somebody like ill no, And
Speaker 3: also my brain as an ex financial advisor, I just
Speaker 3: went to what does that mean? Like five thousand dollars
Speaker 3: today and your superannuation over the next thirty years at
Speaker 3: an average interest rate return of what nine and a
Speaker 3: half percent? Because that's on average what the sher market
Speaker 3: has returned is close to.
Speaker 2: One hundred thousand dollars. It's a lot of money. One
Speaker 2: hundred thousand dollars.
Speaker 3: Is what future you is going to be missing from
Speaker 3: their retire climate because of this.
Speaker 2: Yeah, that's crazy. Do you feel like really not? Yeah?
Speaker 3: Like no, no, no, thank you no, like no.
Speaker 5: So I guess what we're all thing is do not
Speaker 5: let it go because it will eventually be a lot
Speaker 5: of money. And like five thousand dollars right now, just
Speaker 5: you know, seems like in the grand scheme of things whatever,
Speaker 5: but it does.
Speaker 2: It does matter. From middle things, big things grow.
Speaker 3: Like literally, I just put it into a compound interest
Speaker 3: calculator because I was like, well, was I right with that?
Speaker 2: And it is.
Speaker 3: So your initial deposit of five thousand dollars, this is
Speaker 3: not calculating or including the last two years of missed superannuation.
Speaker 3: Your total interest earned over thirty years at an annual
Speaker 3: rate of return of and I chucked in ten percent
Speaker 3: is ninety four thousand, one hundred and eighty seven dollars.
Speaker 3: So you would have a total contribution including that five
Speaker 3: thousand dollars of ninety nine thousand, one hundred and eighty seven.
Speaker 3: So after ten years, that five thousand dollars would be
Speaker 3: worth thirteen thousand. After twenty years that amount is worth
Speaker 3: thirty six thousand, and then after thirty years that amount
Speaker 3: is worth ninety nine That is crazy. I think what
Speaker 3: you're missing out on, and you know what, I would
Speaker 3: I don't know if this is dramatic or whatever, but
Speaker 3: like I would really drive. Like I think sometimes people
Speaker 3: can tell themselves it's not that bad. I sh'll drop it,
Speaker 3: she'll leave it, she'll leave it.
Speaker 2: But like.
Speaker 3: Sometimes just driving home, Hey, I've actually done the calculations
Speaker 3: of what I'm going to miss in retirement and it's
Speaker 3: actually almost one hundred thousand dollars if this payment isn't made.
Speaker 3: So for future me, I actually have to follow this
Speaker 3: up because like absolutely.
Speaker 5: Not and for future them as well, because from my
Speaker 5: understanding of what you're saying before, I could have this wrong,
Speaker 5: but they need to be the interest that was accumulating
Speaker 5: one hundred percent, so if they paid it right now,
Speaker 5: it'd be five thousand and.
Speaker 3: So it makes me so mad because, like I think,
Speaker 3: also because I have experience in this space, like I'm
Speaker 3: a business owner, I have to pay super It is
Speaker 3: a bloody privilege, Like it's one of the things that yes,
Speaker 3: it is, it's hard managing a business and managing payroll
Speaker 3: and superannuation, but you should not have a business if
Speaker 3: you cannot do that, Why are you taking on an
Speaker 3: employee if you can't afford that, like, stop getting ahead
Speaker 3: of yourself. Like, and I think that's what makes me
Speaker 3: so upset, because you're taking advantage of people for your
Speaker 3: own benefit. Like there's no benefit to your employee in
Speaker 3: this situation, yet you're feigning that you have a friendship
Speaker 3: with them.
Speaker 2: Still you just took advantage of them.
Speaker 3: Absolutely not like you're not Like I can't imagine doing
Speaker 3: that to anybody on my team, Like, oh.
Speaker 2: My god, Like I'd be mortified.
Speaker 3: And there's been times where Jess has been like, hey,
Speaker 3: like my pay was meant to have a reimbursement or
Speaker 3: something in it, and I've missed it. I'm like, oh,
Speaker 3: I find that mortifying. I cannot imagine if I was
Speaker 3: owing her five grand on her super so I would
Speaker 3: be doing exactly Like I think Jess's approach.
Speaker 2: Is a good one.
Speaker 3: Reaching really writing a message, yep, maybe even popping it
Speaker 3: in an email, like hey, writing somewhere. Yeah, in writing absolutely,
Speaker 3: like you can send a text message, you'd be like,
Speaker 3: I've also sent it to your emails to make it
Speaker 3: as easy as possible for you. In reality, I'm just
Speaker 3: getting it written down. A number of different places, and
Speaker 3: just giving them as much information in that one message
Speaker 3: to pay it, why you need it paid, and that
Speaker 3: you will be taking further steps because unfortunately, Yeah, but
Speaker 3: also like you're worth that.
Speaker 2: Yeah, Like you should be following this up.
Speaker 3: And I can almost promise that if this is the
Speaker 3: type of friend that you have today, I can't see
Speaker 3: them being your friend for that much longer if this
Speaker 3: is how they're treating you.
Speaker 2: Yeah, what everybody else says, Oh my goodness.
Speaker 3: Thankfully our community, I feel like we're kind of on
Speaker 3: our same page, Jess. So the first question we ask
Speaker 3: the community is what would you do if you're in
Speaker 3: this situation? And thirty nine percent of you said, I'd
Speaker 3: keep pushing because it's my money, forty six percent of
Speaker 3: you said you'd report them because rules are rules, fourteen
Speaker 3: percent of you said no, this is really messy, and
Speaker 3: two percent of you said I'd let it go because
Speaker 3: I don't like the drama.
Speaker 2: Two percent of you don't let it go.
Speaker 5: I think after hearing those few years that you wrote
Speaker 5: it off before, I think that two percent would probably
Speaker 5: change their minds.
Speaker 3: Exactly because I think a lot of us just go oh,
Speaker 3: and it's not only five grand five grand is a
Speaker 3: lot of money, but also because it feels a little
Speaker 3: bit distant, like it's super like you can't access it
Speaker 3: right now, you're just going to be like, oh maybe,
Speaker 3: oh does it really.
Speaker 2: Yes, it really matters. Definitely go give me a number
Speaker 2: or caller.
Speaker 3: The next question we asked was would you take legal
Speaker 3: action if a friend owed you money from a work situation?
Speaker 3: And I do think this is a little bit different
Speaker 3: than like, you know, you spotting your best mate a
Speaker 3: couple of hundred bucks or even five grand.
Speaker 2: This is business, Yeah, you are business is business. Yeah.
Speaker 3: Sixty percent of you said maybe, depends on the amount,
Speaker 3: thirty eight percent of you said yes, business is business,
Speaker 3: and three percent of you said not worth the fallout,
Speaker 3: three percent of you absolutely not.
Speaker 2: We then of your asked the question what is your
Speaker 2: two cents?
Speaker 3: First person said, talk to her one more time and
Speaker 3: say that you'll be reporting her if she doesn't come through.
Speaker 2: Jesse, are you sure your name's not this name? It's
Speaker 2: me on my ten secret account.
Speaker 3: Someone else said, this happened to my husband and we
Speaker 3: went straight to fair work before they ended up taking action.
Speaker 3: Another person said they ruined the friendship when they didn't
Speaker 3: pay your super. I agree, it shows a level of
Speaker 3: disrespect shouldn't exist in a friendship. Another person said she
Speaker 3: has an obligation as a business owner and she actually
Speaker 3: needs to be held accountable.
Speaker 2: There's a two parter.
Speaker 3: First part says, happened to my brother working for a
Speaker 3: family friend. It actually ruined the family friendship and he
Speaker 3: only got a small amount of what he was owed.
Speaker 3: Friends don't do that to friends. It's definitely worth fighting for.
Speaker 2: Yeah.
Speaker 3: Another person said, your friend not only owes you five grand,
Speaker 3: but also.
Speaker 2: The growth of the income that you missed out on.
Speaker 2: The community could just run this entire show.
Speaker 3: And then this person also messaged in all So, the
Speaker 3: ATO has an online tool for reporting employers who haven't
Speaker 3: paid employees super and it calculates the interest.
Speaker 2: Does it all for you? Does it all for you?
Speaker 5: I was gonna say you could do it an honestly,
Speaker 5: but you probably literally cannot.
Speaker 2: Well you probably.
Speaker 3: Can't, But also I don't think you need to do
Speaker 3: this anonymously. Like, at the end of the day, you're
Speaker 3: not in the wrong, and you might feel like you are.
Speaker 2: It's like, no one wants.
Speaker 3: To be a burden. And I think as women, we
Speaker 3: just hate the idea of being like, oh, I'm really sorry,
Speaker 3: I'm putting you out, and your friend might have every
Speaker 3: excuse under the sun, like oh, well, you know, and
Speaker 3: I'm just extrapolating this out, but we heard from the
Speaker 3: DM she's just gone back to full time work, so
Speaker 3: she could be like, oh, I had to go back
Speaker 3: to full time work because I couldn't afford to run
Speaker 3: my business full time and I just don't.
Speaker 2: Have the cat. Actually don't care.
Speaker 3: Work out a playment plan with the ATO, workout it,
Speaker 3: Like you shouldn't have been putting yourself in this situation.
Speaker 2: I think this is very different.
Speaker 3: Like I'm being quite harsh in this situation because business
Speaker 3: is a choice. This isn't I got into debt and
Speaker 3: I can't afford to repay it or I owe my
Speaker 3: friend money for a like, that's a different story. The
Speaker 3: fact that you knowingly went into business, had an employment
Speaker 3: contract with somebody, and have blatantly disregarded that, I think
Speaker 3: is disgusting. So let's say it there, because I am
Speaker 3: about to ask.
Speaker 2: For this woman's name.
Speaker 3: Yeah, I've got to make good TikTok content, wouldn't it
Speaker 3: all right?
Speaker 2: Let's go?
Speaker 3: Because I feel like I have taken up a lot
Speaker 3: of your time. I have loved this episode.
Speaker 2: Guys. We'll see you next week and brighton early on
Speaker 2: Monday for money Darry My guys sign buy shared on.
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