WEBVTT - Share House, Shared Costs? 0:00:00.680 --> 0:00:04.920 Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 0:00:04.960 --> 0:00:08.680 the Order Kerni Whoalbury and a waddery woman. And before 0:00:08.680 --> 0:00:11.160 we get started on She's on the Money podcast, I 0:00:11.160 --> 0:00:14.319 would like to acknowledge the traditional custodians of the land 0:00:14.400 --> 0:00:17.680 of which this podcast is recorded on a wondery country, 0:00:18.120 --> 0:00:22.240 acknowledging the elders, the ancestors and the next generation coming 0:00:22.320 --> 0:00:27.000 through as this podcast is about connecting, empowering, knowledge sharing 0:00:27.080 --> 0:00:30.120 and the storytelling of you to make a difference for 0:00:30.240 --> 0:00:32.640 today and lasting impact for tomorrow. 0:00:33.320 --> 0:00:34.120 Let's get into it. 0:00:34.640 --> 0:00:38.839 She's on the Money, She's on the Money. 0:00:57.640 --> 0:01:00.680 Hello and welcome to She's on the Money, the podcast 0:01:00.680 --> 0:01:05.039 for millennials who want financial freedom. Today is Friday, my Friends, 0:01:05.080 --> 0:01:06.920 which means it is time to get the team together 0:01:06.959 --> 0:01:10.919 and celebrate you how incredible She's on the Money community. Today, 0:01:11.000 --> 0:01:13.240 we'll be sharing our favorite money wins. We'll be helping 0:01:13.240 --> 0:01:15.920 to answer a juicy money dilemma which this week is 0:01:15.959 --> 0:01:19.479 all about if you're ever too old to become financially free, 0:01:19.720 --> 0:01:22.360 and we unpacked something that you slid into our dms 0:01:22.400 --> 0:01:27.040 about all about sharing costs in a share house, team. Welcome, 0:01:27.160 --> 0:01:28.240 How has your week been? 0:01:28.560 --> 0:01:28.720 Hi? 0:01:29.160 --> 0:01:33.800 Hello, how are you good? How are you tgif guys. 0:01:34.080 --> 0:01:34.720 We're done here? 0:01:34.800 --> 0:01:37.520 Okay, cool? See you see bye? 0:01:37.560 --> 0:01:40.000 I said how are you? And you both introduced each other. 0:01:40.040 --> 0:01:42.320 You were like, oh hey, Beck, how heys? Like hi 0:01:42.680 --> 0:01:45.000 over the other side of the paid you know that 0:01:45.200 --> 0:01:45.560 I don't know. 0:01:45.560 --> 0:01:47.000 I can't picked up thank you. 0:01:47.520 --> 0:01:50.480 I'll just see myself out. How will we this week? 0:01:50.520 --> 0:01:54.040 Has anything interesting happened in the community? Has anything interesting 0:01:54.200 --> 0:01:55.440 happened in your lives? 0:01:55.840 --> 0:01:56.080 Beck? 0:01:56.120 --> 0:01:59.360 I feel like you have something to share about ipantry, Like, Oh. 0:01:59.080 --> 0:02:01.520 I'm big time a fan of eye pantry. I discovered 0:02:01.520 --> 0:02:03.400 it not long ago and just got back into it. 0:02:03.720 --> 0:02:07.000 I hate cooking, yeah, and fat. I've ordered a big 0:02:07.040 --> 0:02:12.080 box of individual sandwiches and little snacks and it didn't 0:02:12.080 --> 0:02:14.600 break the bank. And now I'm done for the week. 0:02:14.639 --> 0:02:16.239 I don't have to cook ever again. 0:02:16.560 --> 0:02:18.840 Jess and I learned about this just before this episode 0:02:18.840 --> 0:02:21.200 because you were eating what looked like a very tasty 0:02:21.240 --> 0:02:23.000 panini and we were like, where did you just whip 0:02:23.040 --> 0:02:25.120 that out from? Because I just ate some two minute 0:02:25.160 --> 0:02:28.920 noodles and I guarantee, guarantee, like I will put money 0:02:28.919 --> 0:02:30.840 on the fact that Jess is like, maybe I'll get 0:02:30.840 --> 0:02:33.360 a cheeseburger on the way home. Get some She'll get 0:02:33.360 --> 0:02:36.480 six nuggets, sweet and sour sauce, medium chips, and a 0:02:36.560 --> 0:02:39.840 medium coke, but not coke zereo because zero tastes like trash. 0:02:39.880 --> 0:02:41.400 You'll get a full fat coke. Am I wrong? 0:02:41.520 --> 0:02:41.880 Is that right? 0:02:41.960 --> 0:02:44.960 She knows my order really well, not just a McDonald's 0:02:44.960 --> 0:02:46.120 at multiple restaurants. 0:02:47.200 --> 0:02:50.600 Okay, yeah, I'm all across this. I actually pride myself 0:02:50.639 --> 0:02:53.760 on knowing other people's orders. But you taught us about ipantry, 0:02:53.760 --> 0:02:55.799 and I was just shooked because your panini looked really good, 0:02:55.800 --> 0:02:58.320 and both of us with trash demons when it comes 0:02:58.320 --> 0:03:00.320 to what we put into our bodies most time, and 0:03:00.320 --> 0:03:02.560 you were just like, here's this gormet panini that. 0:03:02.520 --> 0:03:04.960 I that I would never ever ever make. 0:03:05.040 --> 0:03:07.440 It's basically like a catering website, right that you go 0:03:07.560 --> 0:03:10.000 on and you go and order for a pack of 0:03:10.120 --> 0:03:12.600 like paninis and then have them for lunch. You're a genius. 0:03:12.680 --> 0:03:14.080 Yeah, And then you can get some of those ready 0:03:14.080 --> 0:03:16.960 made meals, like you know, you food's dynamic and you 0:03:17.000 --> 0:03:19.120 don't have to like subscribe to anything. You just grab 0:03:19.200 --> 0:03:21.400 a bit of this grab a bit of that from 0:03:21.480 --> 0:03:23.079 the comfort of your lounge. 0:03:23.400 --> 0:03:25.400 I am so impressed. This isn't sponsored. 0:03:25.440 --> 0:03:26.480 We're just like. 0:03:28.040 --> 0:03:28.440 Depressed. 0:03:28.520 --> 0:03:30.480 No, we're not being paid to do that, but yeah, 0:03:30.520 --> 0:03:34.160 we just impressed. But Jess, let's get into community money wins. 0:03:34.240 --> 0:03:36.400 As always, we do a quick whip around of your 0:03:36.440 --> 0:03:39.000 favorite money wins of the week from a weekly thread. 0:03:39.080 --> 0:03:40.560 What have you got for us this week? 0:03:40.680 --> 0:03:42.840 My first money win comes from Jess's great name, who 0:03:42.920 --> 0:03:44.160 said money wins. 0:03:44.400 --> 0:03:45.480 What hermac's order is? 0:03:45.720 --> 0:03:48.200 Hopefully six nuggets because we're now one person because we're 0:03:48.400 --> 0:03:51.920 only option apparently Nuggies or bust. She said, money Wins 0:03:51.920 --> 0:03:55.600 started my diploma through tapes feet free courses, so I 0:03:55.680 --> 0:03:58.880 have saved seven thousand dollars and don't have to pay 0:03:58.960 --> 0:03:59.360 a cent. 0:04:00.120 --> 0:04:02.360 How good is it that most tape courses are al 0:04:02.400 --> 0:04:03.280 free in Australia. 0:04:03.360 --> 0:04:06.080 I keep saying posts coming up that they've added more 0:04:06.280 --> 0:04:10.480 courses or more so we go and learn Osland. I 0:04:10.560 --> 0:04:12.360 saw that. I actually looked into it. Right now there's 0:04:12.360 --> 0:04:14.320 only one place in Melbourne that offers it, which was 0:04:14.360 --> 0:04:16.320 a little bit sad, but I'm hoping they can do 0:04:16.400 --> 0:04:19.760 it remotely, so not from what I saw, but I 0:04:19.760 --> 0:04:22.080 thought that was really incredible because I would actually really 0:04:22.120 --> 0:04:23.560 love to learn Oslane and. 0:04:23.480 --> 0:04:26.479 I don't have enough time at the moment in person classes. Yeah, 0:04:26.720 --> 0:04:28.560 but the second I saw it was free through Tafe, 0:04:28.560 --> 0:04:30.520 I was like, wow, this is so exciting. 0:04:30.720 --> 0:04:32.720 Yeah, jump on the tape website see if, of course 0:04:32.720 --> 0:04:35.960 you're interested in is subsidized or maybe free, because that's incredible. 0:04:36.120 --> 0:04:37.240 Yeah, upskill, We. 0:04:37.160 --> 0:04:39.920 Love it, We absolutely do. My next money win comes 0:04:40.000 --> 0:04:42.320 from Gabby who said money win. My work pays for 0:04:42.360 --> 0:04:44.719 me to have Quantus Club, and I fly very regularly 0:04:44.720 --> 0:04:46.599 for work, so you can bet I'm at the airport 0:04:46.680 --> 0:04:49.599 stupidly early for every flight, saving on cash and that 0:04:49.640 --> 0:04:52.560 grocery bill. This morning I got my seven dollar cappuccino 0:04:52.640 --> 0:04:53.080 for free. 0:04:53.279 --> 0:04:56.359 Yeah money, do you know what? That was one of 0:04:56.360 --> 0:04:58.760 the things that I found really impressive because obviously I 0:04:58.839 --> 0:05:01.080 pay extra for oatmeal every single time. 0:05:01.440 --> 0:05:01.640 Free. 0:05:01.760 --> 0:05:03.400 The Virgin loungeree. 0:05:05.080 --> 0:05:06.040 We love the Virgin Loud. 0:05:06.040 --> 0:05:08.240 They've just added o't milk and I'm very envy about it. 0:05:08.400 --> 0:05:09.440 Oh exciting. 0:05:09.600 --> 0:05:11.640 I would like to think that that's because they listen 0:05:11.720 --> 0:05:15.600 to us. Yes, we single handedly brought milk to the 0:05:15.680 --> 0:05:18.120 Virgin Lounge in Melbourne for sure, one. 0:05:18.040 --> 0:05:19.120 Hundred percent that was me. 0:05:21.040 --> 0:05:23.000 My next money in this week comes from Marissa, who 0:05:23.000 --> 0:05:25.080 said money when me and my long term partner of 0:05:25.120 --> 0:05:27.960 seven years are finally able to have a healthy conversation 0:05:28.000 --> 0:05:30.880 about finances, and it's all thanks to the podcast. He 0:05:30.960 --> 0:05:32.520 has to listen to it when he's in the car 0:05:33.120 --> 0:05:35.719 to listen to it, and he's becoming far more open. 0:05:35.800 --> 0:05:40.239 It's a step in the right direction together. I also 0:05:40.279 --> 0:05:42.400 loved the idea of him being like held hostage in. 0:05:42.320 --> 0:05:46.040 My car, talking to him, like you're going to learn 0:05:46.080 --> 0:05:47.200 about compound interests. 0:05:47.480 --> 0:05:50.520 Greg Hi, Greg or what if your name is? We 0:05:50.720 --> 0:05:53.839 love and appreciate your listening. My next money in this 0:05:53.839 --> 0:05:56.719 week comes from LJ who said I recently started using 0:05:56.800 --> 0:05:59.239 chass after a long time of debating whether I should 0:05:59.240 --> 0:06:01.440 get into the share mark. Thanks to Shoes on the Money, 0:06:01.480 --> 0:06:04.200 I finally feel confident too after using shop back for 0:06:04.240 --> 0:06:06.920 all of my Christmas shopping, I'm now withdrawing my cash 0:06:07.000 --> 0:06:09.600 back and putting it straight into my chas ease, feeling 0:06:09.640 --> 0:06:11.120 like I can finally finance. 0:06:11.560 --> 0:06:15.240 It's kind of cool that, you know, our biggest supporters 0:06:15.240 --> 0:06:18.920 of the show are basically making our community reach. I 0:06:19.000 --> 0:06:20.480 had so cool and. 0:06:20.440 --> 0:06:22.280 I thought it was so smart that She's like, I'm 0:06:22.320 --> 0:06:24.440 gonna get my cash back here, and then I'm just 0:06:24.440 --> 0:06:25.840 gonna put that money straight in. 0:06:26.120 --> 0:06:28.120 I'm investing my shopping li Regenius. 0:06:28.160 --> 0:06:30.080 It's like a little ecosystem. How clever is that? 0:06:30.600 --> 0:06:31.360 Love love Love. 0:06:31.560 --> 0:06:34.120 And then my lucky last win this week comes from Teresa, 0:06:34.160 --> 0:06:36.359 who said small money win. The cobbler I went to 0:06:36.440 --> 0:06:38.520 for the first time did the wrong repair on the 0:06:38.560 --> 0:06:41.280 pair of sandals, so gave me twenty dollars back. I 0:06:41.320 --> 0:06:43.919 also got five pairs of shoes that I loved fixed. 0:06:43.960 --> 0:06:46.560 Most of them were secondhand, so I've extended the life 0:06:46.600 --> 0:06:48.640 of all of them, which means I'm spending less money 0:06:48.640 --> 0:06:50.919 on buying new shoes in the future, and I'm helping 0:06:50.920 --> 0:06:54.080 to reduce waste money. I would never think to go 0:06:54.120 --> 0:06:56.520 to a cobbler like I would just be really no same. 0:06:56.560 --> 0:06:59.640 I was thinking that too. I was like, cobbler, cobbler, Yeah, 0:06:59.680 --> 0:07:02.679 I like that is so clever. It is really clever. 0:07:02.839 --> 0:07:04.760 I feel like that's how some of my shoes have 0:07:04.960 --> 0:07:07.440 lasted ten plus years. Yeah, is I get that. It's 0:07:07.440 --> 0:07:09.680 called topi. It's like a rubber sole put on the 0:07:09.720 --> 0:07:11.960 bottom of shoes, And if I buy like a pair 0:07:12.000 --> 0:07:13.840 of boots or something, I always get it put on 0:07:13.840 --> 0:07:15.960 because I feel like they last longer. And then you 0:07:16.000 --> 0:07:18.640 can just get that rubber piece replaced when it wears through. 0:07:19.200 --> 0:07:21.120 Really smart. The shoes already broken in, you don't have 0:07:21.200 --> 0:07:21.720 to break in, and. 0:07:21.640 --> 0:07:24.160 New pet's actually so smart. Like if you find a 0:07:24.160 --> 0:07:25.880 really nice pair of boots or something at the op 0:07:25.880 --> 0:07:27.440 shop and you're like, oh, the sole's a bad you 0:07:27.480 --> 0:07:28.080 can fix that. 0:07:28.840 --> 0:07:29.360 Genius? 0:07:29.360 --> 0:07:30.160 How good? 0:07:30.320 --> 0:07:32.840 I feel like their genius money wins this week. They're 0:07:32.840 --> 0:07:36.720 making money, they're investing, they're fixing clothes, save in the environment. 0:07:36.840 --> 0:07:39.080 You know it begs money, win a five pantry. Honestly, 0:07:39.120 --> 0:07:41.640 I feel like I'm set up for a very productive weeks. 0:07:41.640 --> 0:07:43.000 Got a week you could feel in about this one 0:07:43.040 --> 0:07:43.560 hundred percent. 0:07:43.640 --> 0:07:45.480 Let's go to a really quick break and then after 0:07:45.480 --> 0:07:47.320 the break, I want to talk about our money dilemma, 0:07:47.360 --> 0:07:50.440 about whether you're ever too old to become financially free, 0:07:50.600 --> 0:07:53.240 and I want to jump into the juicy conversation about 0:07:53.240 --> 0:07:55.640 how to split costs while living in a share house. 0:07:56.160 --> 0:07:58.160 There are some horror stories to come out, I am 0:07:58.240 --> 0:08:03.400 sure of it. Don't go anywhere, guys. 0:08:04.560 --> 0:08:07.400 Welcome back everybody. I think it's time that we jump 0:08:07.440 --> 0:08:09.800 straight into this week's money dilemma. Should we take a 0:08:09.800 --> 0:08:10.320 little listen? 0:08:12.280 --> 0:08:12.440 Hi? 0:08:12.560 --> 0:08:15.320 There, have you got a money dilemma you just can't solve? 0:08:15.480 --> 0:08:17.679 The Sheess on the Money Team is here to help. 0:08:18.000 --> 0:08:21.000 Every week, we tackle your dilemmas, both big and small, 0:08:21.080 --> 0:08:24.160 to answer your most burning money, career and life questions. 0:08:24.360 --> 0:08:26.840 To get involved, simply head to our website and leave 0:08:26.920 --> 0:08:29.040 us a short voice recording and you might just find 0:08:29.080 --> 0:08:31.800 yourself on the show. Now, let's take a listen to 0:08:31.840 --> 0:08:34.400 this week's money dilemma. 0:08:34.640 --> 0:08:37.880 Hi, my name's Angela. I am forty seven years of age. 0:08:38.520 --> 0:08:41.160 I only have super I don't have any investments or property. 0:08:41.840 --> 0:08:44.640 I'm just wondering whether you think I'm too old to 0:08:44.720 --> 0:08:50.280 become financially free from the perspective of getting enough investments 0:08:50.360 --> 0:08:54.720 and property to be able to stop working, and how 0:08:54.720 --> 0:08:57.959 long this would normally take. Feels like our time has 0:08:57.960 --> 0:09:00.160 already passed, so just wondering. 0:08:59.800 --> 0:09:00.640 What to do next. 0:09:00.880 --> 0:09:02.920 Would greatly appreciate your advice. Thank you. 0:09:03.080 --> 0:09:05.280 I feel like this is a good one to handball 0:09:05.440 --> 0:09:08.240 straight to that side of the same great. 0:09:08.240 --> 0:09:10.800 I see what we're doing here. We're not pulling our 0:09:10.920 --> 0:09:14.280 weight as if shoes on the Money team. No, there's 0:09:14.320 --> 0:09:16.320 no such thing as too old. And I feel like 0:09:16.559 --> 0:09:18.720 any step in the right direction is a step that 0:09:18.800 --> 0:09:21.439 is going to help you become financially free in the future. 0:09:21.520 --> 0:09:23.640 And we hear this a lot. Actually, it was the 0:09:23.679 --> 0:09:26.160 most wholesome I think you commented on it, Jess. A 0:09:26.200 --> 0:09:28.680 couple of weeks ago, there was a group of people 0:09:28.880 --> 0:09:31.320 commenting in the group saying like, Oh, I'm fifty two 0:09:31.400 --> 0:09:33.600 and I've just discovered this podcast. I'm not for you, 0:09:33.679 --> 0:09:35.360 and I was like, you are for me if you 0:09:35.400 --> 0:09:38.760 resonate with this content. This podcast is for you. And 0:09:38.800 --> 0:09:42.360 there's no such thing as too late. To be honest, like, 0:09:42.480 --> 0:09:44.839 I have worked with women in their late sixties who 0:09:44.880 --> 0:09:48.240 are preparing themselves for retirement, and I think that, yeah, 0:09:48.320 --> 0:09:51.040 any step is a step in the right direction. As women, 0:09:51.120 --> 0:09:54.719 we retire with forty two percent less super than men do, 0:09:55.280 --> 0:09:57.640 and I feel like anything that we can do to 0:09:57.840 --> 0:10:00.960 bring that a little bit closer, or put us into 0:10:01.080 --> 0:10:04.520 a situation where we're not going to experience any type 0:10:04.520 --> 0:10:07.360 of poverty during retirement is a step in the right direction. 0:10:07.559 --> 0:10:09.559 And I mean, at forty seven, I have no idea 0:10:09.600 --> 0:10:11.559 how much you earn or how much you spend or. 0:10:11.480 --> 0:10:12.559 What the facts are. 0:10:13.000 --> 0:10:15.160 But what I can tell you is, even if it's 0:10:15.200 --> 0:10:17.880 ten dollars invested every single month, is a step in 0:10:17.920 --> 0:10:21.359 the right direction, because I'm assuming if you're caring about investing, 0:10:21.400 --> 0:10:23.800 what you're also caring about is the rest of your 0:10:23.840 --> 0:10:27.400 financial house. You're caring about having an emergency fund, You're 0:10:27.400 --> 0:10:29.880 caring about your budget and cash flow and having all 0:10:29.960 --> 0:10:32.400 of those ducks in a row. You're caring about your 0:10:32.400 --> 0:10:36.000 personal insurances. You're caring about what your superannuation looks like 0:10:36.040 --> 0:10:38.800 and whether your fund's performing for you, and all of 0:10:38.840 --> 0:10:42.200 those things are going to put you financially ahead. But 0:10:42.240 --> 0:10:44.280 then also, if we look at where you're at in life, 0:10:44.320 --> 0:10:48.480 you're only forty seven, you're still so young, Like it's 0:10:48.559 --> 0:10:52.560 eighteen years before officially you can retire. But most people 0:10:52.640 --> 0:10:56.080 are retiring at seventy seventy five these days, Like they're 0:10:56.080 --> 0:10:58.800 always saying things like seventy is the new sixty and 0:10:58.840 --> 0:11:01.240 stuff like that, because how many women are actually staying 0:11:01.240 --> 0:11:03.720 in the workforce by choice, Like they might be able 0:11:03.760 --> 0:11:05.199 to retire, but they're like, I don't want to retire. 0:11:05.200 --> 0:11:06.800 What else I'm going to do. I might just work 0:11:06.840 --> 0:11:09.360 part time, or I might just have the financial freedom 0:11:09.360 --> 0:11:12.120 to do whatever I like. So I feel like any 0:11:12.160 --> 0:11:14.160 step is a step in the right direction. But if 0:11:14.160 --> 0:11:17.400 we even just do a little bit of simple compound 0:11:17.520 --> 0:11:21.960 interest here, you're forty seven. Technically, retirement age or the 0:11:22.040 --> 0:11:25.280 age that you can access your souperranuation with absolutely no 0:11:25.400 --> 0:11:28.040 tax is sixty five years old, which is called your 0:11:28.040 --> 0:11:31.600 preservation age, and at this point that's eighteen years away. 0:11:32.080 --> 0:11:34.920 In another podcast episode we did recently, we said that 0:11:35.000 --> 0:11:37.959 the ASX Top two hundred index fund had an average 0:11:38.040 --> 0:11:41.600 return of nine point three percent over the last ten years. 0:11:41.600 --> 0:11:43.920 So let's use those maths and have a look at it. 0:11:43.960 --> 0:11:47.200 If you deposited one thousand dollars into an investment account 0:11:47.240 --> 0:11:50.280 today and then every single month, because you are forty 0:11:50.320 --> 0:11:52.199 seven and you're heading towards retirement, so you want to 0:11:52.240 --> 0:11:54.400 take it a bit more seriously, We're not talking fifty 0:11:54.400 --> 0:11:56.240 bucks here. You might go, all right, well, I want 0:11:56.240 --> 0:11:58.600 to put five hundred dollars aside each month, And this 0:11:58.720 --> 0:12:00.840 is just an example. It can gale up and down, 0:12:00.880 --> 0:12:02.679 and you guys can go to the moneysmart dot gov, 0:12:02.760 --> 0:12:05.120 dot AU website and have a look at their compound 0:12:05.160 --> 0:12:08.240 interest calculator to do your own predictions. But at an 0:12:08.280 --> 0:12:11.240 initial deposit of one thousand dollars and then five hundred 0:12:11.280 --> 0:12:14.360 dollars each and every single month, you could be putting 0:12:14.400 --> 0:12:16.800 yourself in a position where you have an additional two 0:12:16.880 --> 0:12:20.760 hundred and eighty two thousand dollars to retire with. Amazing, 0:12:20.920 --> 0:12:24.000 that's one hundred percent worth it. Given most women retire 0:12:24.120 --> 0:12:26.880 with less than three hundred thousand dollars in their super account, 0:12:27.000 --> 0:12:29.360 you could literally put yourself in a position where you're 0:12:29.400 --> 0:12:32.040 double what the average is. How good is that? I 0:12:32.160 --> 0:12:35.280 just feel like so many times when we're talking about 0:12:35.280 --> 0:12:38.720 wealth or whether it's too late, people extrapolated out and 0:12:38.760 --> 0:12:40.960 think we need millions. Do you know how much two 0:12:41.040 --> 0:12:44.360 hundred and eighty thousand dollars for you in retirement? So much? 0:12:44.480 --> 0:12:48.360 It is the difference between poverty and actually being able 0:12:48.559 --> 0:12:51.240 to live a life that you deserve. We're not talking 0:12:51.280 --> 0:12:54.440 about having to have hundreds of thousands of dollars of income. 0:12:54.760 --> 0:12:56.960 And while a lot of examples in Sheese on the 0:12:57.000 --> 0:12:59.679 Money use that it's because it's motivating to a young 0:12:59.679 --> 0:13:03.280 a daymographic to get them to take financial literacy seriously, 0:13:03.600 --> 0:13:05.959 because if I said to you Beck and Jess, oh 0:13:06.040 --> 0:13:08.480 you could be two hundred grands better off, you're young, 0:13:08.480 --> 0:13:10.800 You're like whatever, My friends save two hundred grand for 0:13:10.840 --> 0:13:13.920 their first house, Like you just don't care as much 0:13:13.960 --> 0:13:15.280 as if I said, Beck, do you want to be 0:13:15.320 --> 0:13:18.600 a millionaire? Like it's clickbait. I'm using it to my 0:13:18.720 --> 0:13:23.040 advantage to make people take financial literacy seriously. But at 0:13:23.080 --> 0:13:25.319 the crux of it, being two hundred and eighty thousand 0:13:25.360 --> 0:13:28.680 dollars better off in retirement is going to be life changing, 0:13:28.679 --> 0:13:31.160 and I promise that. So No, it is never too 0:13:31.240 --> 0:13:34.000 late to take financial literacy seriously. And Jess, you can 0:13:34.040 --> 0:13:36.040 probably you know, chime in here. But we see it 0:13:36.080 --> 0:13:39.439 all the time in our community, women who are closer 0:13:39.480 --> 0:13:41.600 to retirement age saying, oh my god, I just found 0:13:41.600 --> 0:13:43.480 this podcast. I'm better off for I just found this 0:13:43.520 --> 0:13:46.680 podcast and I now understand my souper for the first 0:13:46.679 --> 0:13:49.160 time in my life. Or I now have an emergency 0:13:49.160 --> 0:13:51.160 fund and I didn't before, and I feel so much 0:13:51.160 --> 0:13:55.480 more financially free. Financial freedom means different things to different people. 0:13:55.559 --> 0:13:58.720 It's not necessarily becoming a millionaire and being a big 0:13:58.760 --> 0:14:01.120 dog because that's not even what I think is feasible 0:14:01.160 --> 0:14:01.840 for most people. 0:14:02.080 --> 0:14:04.360 Yeah, And if you're in the position like Angela and she, 0:14:04.800 --> 0:14:07.520 you know, mentioned that she was looking at hopefully maybe 0:14:07.559 --> 0:14:09.480 retiring a little bit early and wanting to get into 0:14:09.520 --> 0:14:12.120 property investment, do you think it would be worthwhile her 0:14:12.160 --> 0:14:15.400 reaching out to a financial advisor to get some professional 0:14:15.400 --> 0:14:16.080 advice around that? 0:14:16.240 --> 0:14:20.560 One hundred percent over eighteen years, you have so much 0:14:20.600 --> 0:14:23.160 power and so much time, and there's no such thing 0:14:23.240 --> 0:14:25.680 as too late. I met somebody the other day who 0:14:25.760 --> 0:14:27.880 is fifty five and at unique cause she's changing her career. 0:14:28.120 --> 0:14:29.240 Isn't that sick of that? 0:14:29.440 --> 0:14:30.000 Isn't that sick? 0:14:30.080 --> 0:14:31.760 She's like, no, I always wanted to be a paramedic, 0:14:31.800 --> 0:14:34.280 and I just decided I'm healthy. I'm you know, at 0:14:34.280 --> 0:14:36.280 a stage in my life where all I'm doing is 0:14:36.320 --> 0:14:38.960 regretting having not become a paramedic. And she's like, I've got, 0:14:39.000 --> 0:14:40.800 you know, at least ten years in me before I 0:14:40.840 --> 0:14:43.440 even think about retirement, before I even become that agent. 0:14:43.520 --> 0:14:45.400 She's like, and I'm really fit, So I reckon, I'll 0:14:45.680 --> 0:14:47.360 I've got more time than that. And I was just like, 0:14:47.680 --> 0:14:50.400 how cool is it that there's this fifty five year 0:14:50.400 --> 0:14:53.480 old who's back at UNI, who's probably got so much 0:14:53.520 --> 0:14:56.520 more life experience than anyone else in that course at 0:14:56.520 --> 0:14:57.440 this point in time. 0:14:57.600 --> 0:14:59.400 Yeah, like what an asset that is. 0:14:59.520 --> 0:15:03.160 Honestly, start seeing yourself as the asset you are, instead 0:15:03.200 --> 0:15:06.000 of feeling like a burden, which I think a lot 0:15:06.040 --> 0:15:09.520 of women once they pass their quote child bearing years 0:15:09.840 --> 0:15:12.280 they feel. And I'm not saying that because I believe it. 0:15:12.320 --> 0:15:15.000 I'm saying that because I have experienced women talking to 0:15:15.000 --> 0:15:16.360 me about like, oh, I just don't feel like I 0:15:16.400 --> 0:15:18.360 have direction or we should have done this when I 0:15:18.400 --> 0:15:18.840 was younger. 0:15:19.120 --> 0:15:19.600 Do it now? 0:15:19.840 --> 0:15:22.360 The world doesn't end when we retire. You're like halfway 0:15:22.560 --> 0:15:25.120 a little bit over halfway through your lifespan. Sure, which 0:15:25.160 --> 0:15:26.000 is crazy, isn't it. 0:15:26.040 --> 0:15:28.520 People are now living to one hundred and we actually, 0:15:28.640 --> 0:15:31.720 as financial plan when I was a financial planner, used 0:15:31.720 --> 0:15:33.880 to go to conferences and stuff and be talking about 0:15:33.880 --> 0:15:36.200 life expectancy and it used to be eighty two years 0:15:36.200 --> 0:15:39.920 and it's just increasing and as the medical world progresses, 0:15:40.040 --> 0:15:42.920 it's just going to increase even more. And I find 0:15:42.960 --> 0:15:45.400 it super interesting because I went to a conference a 0:15:45.440 --> 0:15:49.040 while ago and one of the speakers said, recently a 0:15:49.120 --> 0:15:50.960 baby was born that is going to make it to 0:15:50.960 --> 0:15:53.760 one hundred and fifty years old. We don't know who 0:15:53.800 --> 0:15:58.280 that is, but based on predictions of what our longevity 0:15:58.360 --> 0:16:01.920 actually looks like, andsion in science and progression in technology, 0:16:01.920 --> 0:16:03.960 there is literally someone on this earth that's going to 0:16:04.080 --> 0:16:07.560 live to one fifty. That's crazy, right, that's incredible. So 0:16:07.680 --> 0:16:09.600 key having to pay for their retirement. 0:16:12.040 --> 0:16:15.400 That really is so interesting. But I want to wrap 0:16:15.400 --> 0:16:18.040 it up because I am so keen to talk about 0:16:18.080 --> 0:16:21.040 this week's DM conversation because it's happened to me and 0:16:21.120 --> 0:16:21.520 I want to. 0:16:21.520 --> 0:16:23.960 Talk about it same. I feel like this is going 0:16:24.040 --> 0:16:26.120 to get really heated because I've never had this conversation 0:16:26.200 --> 0:16:29.000 with all the stories, and I feel like, maybe, Beck, 0:16:29.080 --> 0:16:30.880 have you had a little bit of a nasty's share 0:16:30.920 --> 0:16:32.120 house experience in your time? 0:16:32.400 --> 0:16:33.560 I've had some interesting ones. 0:16:33.640 --> 0:16:33.840 Yeah. 0:16:34.600 --> 0:16:35.640 So here's our DM. 0:16:35.800 --> 0:16:38.360 It says High Team, hoping for a little bit of 0:16:38.400 --> 0:16:41.920 help with a tricky sharehouse situation. I'm struggling with feeling 0:16:42.000 --> 0:16:44.840 like I have a housemate who doesn't contribute regularly to 0:16:44.880 --> 0:16:49.080 shared household items, for example, toilet paper, washing, liquid cleaning. 0:16:48.720 --> 0:16:49.560 Products, et cetera. 0:16:50.080 --> 0:16:53.160 Any idea on how to approach this we're pretty new 0:16:53.200 --> 0:16:55.720 living together, so I just don't want it to be awkward. 0:16:56.320 --> 0:16:57.160 What would you guys? 0:16:57.200 --> 0:16:59.800 Do you have to set the boundaries early, because this 0:16:59.880 --> 0:17:01.840 is mistake that I have made in the past, is 0:17:01.880 --> 0:17:04.600 you let it go. And then in my situation, there 0:17:04.640 --> 0:17:08.000 was three of us living together and two people were 0:17:08.040 --> 0:17:10.280 kind of always doing everything in one person was just 0:17:10.359 --> 0:17:13.760 free looting, and it got by for so long that 0:17:13.800 --> 0:17:15.960 we've been living together for like six months, and it 0:17:16.040 --> 0:17:18.800 was so much harder to have the conversation then, because 0:17:18.800 --> 0:17:21.880 I think when you when you've just moved in, your 0:17:21.960 --> 0:17:25.320 kind of finding your vibe, you can suggest alternative ways 0:17:25.359 --> 0:17:27.879 of splitting things and it's not so weird because you 0:17:27.880 --> 0:17:29.520 can be like, oh, I know, we've just kind of 0:17:29.520 --> 0:17:31.359