1 00:00:00,680 --> 00:00:04,920 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 2 00:00:04,960 --> 00:00:08,680 Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before 3 00:00:08,680 --> 00:00:11,160 Speaker 1: we get started on She's On the Money podcast, I 4 00:00:11,160 --> 00:00:14,319 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:17,720 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,560 Speaker 1: acknowledging the elders, the ancestors and the next generation coming through. 7 00:00:23,079 --> 00:00:27,159 Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and 8 00:00:27,240 --> 00:00:30,600 Speaker 1: the storytelling of you to make a difference for today 9 00:00:31,040 --> 00:00:32,640 Speaker 1: and lasting impact for tomorrow. 10 00:00:33,320 --> 00:00:34,120 Speaker 2: Let's get into it. 11 00:00:34,760 --> 00:00:47,880 Speaker 3: She's on the Money. She's on the Money. 12 00:00:57,800 --> 00:01:01,000 Speaker 4: Hello, and welcome to She's on Them the podcast for 13 00:01:01,080 --> 00:01:03,320 Speaker 4: millennials who want financial freedom. 14 00:01:03,640 --> 00:01:05,160 Speaker 2: Today is Friday, which means it. 15 00:01:05,160 --> 00:01:06,840 Speaker 4: Is time to sit back with Jess and I with 16 00:01:06,920 --> 00:01:09,840 Speaker 4: maybe a bevy in hand, to unpack our favorite moments 17 00:01:09,840 --> 00:01:13,039 Speaker 4: of the week, and of course to celebrate you how 18 00:01:13,120 --> 00:01:15,840 Speaker 4: She's on the Money community. As always, we're going to 19 00:01:15,840 --> 00:01:17,440 Speaker 4: be sharing our money tips and tricks. 20 00:01:17,440 --> 00:01:19,160 Speaker 2: We're going to talk about our favorite money. 21 00:01:19,000 --> 00:01:21,119 Speaker 4: Wins, and we're going to be discussing what's making news 22 00:01:21,120 --> 00:01:24,080 Speaker 4: in the finance world. And we're going to be helping 23 00:01:24,240 --> 00:01:27,480 Speaker 4: to answer a juicy juicy money question, which this week 24 00:01:27,680 --> 00:01:29,960 Speaker 4: is about where the best place is to keep a 25 00:01:30,040 --> 00:01:33,000 Speaker 4: large sum of money. But first it is time to 26 00:01:33,040 --> 00:01:35,520 Speaker 4: recap the week that was, and I'm going to start 27 00:01:35,560 --> 00:01:38,560 Speaker 4: with our money diary for Monday. Miss Jesskrichi, which this 28 00:01:38,640 --> 00:01:41,560 Speaker 4: week's money tarist. What would I say? Just she flawed me. 29 00:01:41,800 --> 00:01:45,240 Speaker 4: She was incredible, as all of our diarists are, but 30 00:01:45,360 --> 00:01:47,960 Speaker 4: she essentially landed her dream job and realized it wasn't 31 00:01:47,960 --> 00:01:50,200 Speaker 4: her dream job, like it was just not what she 32 00:01:50,280 --> 00:01:53,600 Speaker 4: wanted to be doing, and she had a lot going 33 00:01:53,680 --> 00:01:57,160 Speaker 4: on like so much so at the same time as 34 00:01:57,360 --> 00:02:00,320 Speaker 4: realizing that her dream job wasn't her dream job, basically 35 00:02:00,360 --> 00:02:02,640 Speaker 4: having crippling anxiety and finding herself crying on the floor 36 00:02:02,640 --> 00:02:05,480 Speaker 4: most nights, she found out that her sixteen year old 37 00:02:05,520 --> 00:02:07,840 Speaker 4: dog was really unwell and after a year and a 38 00:02:07,880 --> 00:02:10,160 Speaker 4: half of vet bills that added up to more than 39 00:02:10,240 --> 00:02:15,360 Speaker 4: twenty thousand dollars, Jess her pooch passed away, which was 40 00:02:15,400 --> 00:02:18,160 Speaker 4: really sad. But while that was happening, her dad's cancer 41 00:02:18,240 --> 00:02:20,840 Speaker 4: returned and he was given a really short time to 42 00:02:20,880 --> 00:02:23,720 Speaker 4: live and he passed away in July of last year. 43 00:02:24,240 --> 00:02:26,560 Speaker 4: But putting all of her job and stuff on hold, 44 00:02:26,560 --> 00:02:28,040 Speaker 4: she was able to go and spend a whole heap 45 00:02:28,080 --> 00:02:30,480 Speaker 4: of time with her dad, which was really really beautiful, 46 00:02:30,520 --> 00:02:33,440 Speaker 4: and she got some amazing memories with him. And obviously 47 00:02:33,600 --> 00:02:35,640 Speaker 4: that wouldn't have been possible if she'd stayed in the 48 00:02:35,720 --> 00:02:39,079 Speaker 4: job and stayed committed, because it was literally interstate. So 49 00:02:39,240 --> 00:02:41,400 Speaker 4: it was just such a story where you're like, wow, 50 00:02:41,520 --> 00:02:44,520 Speaker 4: like that's such a process and so much emotional trauma 51 00:02:44,639 --> 00:02:46,760 Speaker 4: going on at the same time. But then to also 52 00:02:47,160 --> 00:02:49,600 Speaker 4: see how she was leaving her values at the same 53 00:02:49,639 --> 00:02:52,320 Speaker 4: time as going through a traumatic time, like, yes, her 54 00:02:52,360 --> 00:02:54,639 Speaker 4: dad was really struggling and her dog had passed away 55 00:02:54,639 --> 00:02:55,880 Speaker 4: and it was really really awful. 56 00:02:56,080 --> 00:02:57,119 Speaker 5: But she was also like, do you. 57 00:02:57,040 --> 00:03:00,000 Speaker 4: Know what I got to prioritize, you know, spending time 58 00:03:00,040 --> 00:03:02,280 Speaker 4: with my family and moving back home and doing these 59 00:03:02,320 --> 00:03:05,040 Speaker 4: things that really were of value to me. And now 60 00:03:05,080 --> 00:03:07,480 Speaker 4: she works in her real dream job, which is a 61 00:03:07,520 --> 00:03:09,640 Speaker 4: complete pivot from where she was, which is a not 62 00:03:09,680 --> 00:03:11,640 Speaker 4: for profit job where she does earn more, but she 63 00:03:11,680 --> 00:03:13,600 Speaker 4: says her cup is more full, and I just think, 64 00:03:14,120 --> 00:03:17,040 Speaker 4: how good are values? Like it makes me so happy 65 00:03:17,080 --> 00:03:20,080 Speaker 4: that our community is finding their feet not. 66 00:03:20,160 --> 00:03:22,760 Speaker 2: Just oh, I'm really rich, Like that doesn't matter. 67 00:03:23,200 --> 00:03:26,399 Speaker 4: Honestly, it's so much more than money, and I just, yeah, 68 00:03:26,440 --> 00:03:28,040 Speaker 4: I really liked this because I think a lot of 69 00:03:28,080 --> 00:03:31,639 Speaker 4: people would be able to resonate with just the anxiety part, 70 00:03:31,760 --> 00:03:34,520 Speaker 4: or even the dog or even a parent being unwell, 71 00:03:34,560 --> 00:03:36,480 Speaker 4: and just she was a beautiful human and I want 72 00:03:36,480 --> 00:03:36,600 Speaker 4: to be. 73 00:03:36,640 --> 00:03:37,080 Speaker 2: Her best friend. 74 00:03:37,160 --> 00:03:39,960 Speaker 5: Chesss Oh we love a happy ending. How exciting. I'm 75 00:03:40,000 --> 00:03:40,760 Speaker 5: so happy for her. 76 00:03:41,120 --> 00:03:44,000 Speaker 4: Yeah, Well, moving on from that, because that was beautiful, 77 00:03:44,000 --> 00:03:47,000 Speaker 4: but also our deep dive was good. We were helping 78 00:03:47,280 --> 00:03:49,960 Speaker 4: around some festive topics, Jessica your favorite. 79 00:03:50,160 --> 00:03:51,760 Speaker 2: What were we talking about this week? 80 00:03:51,840 --> 00:03:55,680 Speaker 5: So this week we tackled navigating social and financial anxiety 81 00:03:55,720 --> 00:03:59,680 Speaker 5: around Christmas time, which we know statistically that people's mental 82 00:03:59,720 --> 00:04:01,600 Speaker 5: health tends to take a bit of a downturn at 83 00:04:01,600 --> 00:04:02,400 Speaker 5: this time of year. 84 00:04:02,480 --> 00:04:03,240 Speaker 2: Even mine does. 85 00:04:03,280 --> 00:04:05,480 Speaker 4: And I've got no reason, but yeah, I just feel 86 00:04:05,480 --> 00:04:08,160 Speaker 4: like it's the overwhelm at this period of year, and 87 00:04:08,200 --> 00:04:08,560 Speaker 4: you're just. 88 00:04:08,520 --> 00:04:11,280 Speaker 5: Like, look, yes, so much, right, so much going on. 89 00:04:11,480 --> 00:04:14,320 Speaker 5: I think for people, the financial burden is really heavy. 90 00:04:14,480 --> 00:04:16,880 Speaker 5: On top of that, people who already have maybe poor 91 00:04:16,920 --> 00:04:19,279 Speaker 5: relationships with family or friends, or people who are feeling 92 00:04:19,320 --> 00:04:22,719 Speaker 5: isolated might really feel like that's heightened at this time 93 00:04:22,720 --> 00:04:25,360 Speaker 5: of year because there's that narrative around spend time with 94 00:04:25,400 --> 00:04:28,080 Speaker 5: your family, do this, do that, and not everybody has 95 00:04:28,120 --> 00:04:30,200 Speaker 5: that same experience, and that can be really tough for 96 00:04:30,279 --> 00:04:33,599 Speaker 5: people keeping up with the joneses, getting the best persons family. 97 00:04:33,600 --> 00:04:35,640 Speaker 5: There are so many things that can stress people out, 98 00:04:35,720 --> 00:04:38,160 Speaker 5: and so we really wanted to talk about what those 99 00:04:38,200 --> 00:04:40,640 Speaker 5: things look like, some coping mechanisms that you might be 100 00:04:40,680 --> 00:04:44,159 Speaker 5: able to use, and just kind of really hopefully reaffirming 101 00:04:44,160 --> 00:04:47,400 Speaker 5: for people that as much as I am the biggest 102 00:04:47,440 --> 00:04:50,159 Speaker 5: fan of this time of year, it is also just 103 00:04:50,200 --> 00:04:52,680 Speaker 5: another day, you know, in the calendar of life, like 104 00:04:52,720 --> 00:04:55,240 Speaker 5: another day is going to come, and we don't want 105 00:04:55,279 --> 00:04:57,320 Speaker 5: people to be putting themselves in that position where they're 106 00:04:57,320 --> 00:05:01,159 Speaker 5: stressing themselves out over something that ultimately, in the scheme 107 00:05:01,200 --> 00:05:03,479 Speaker 5: of things, it doesn't it doesn't matter. 108 00:05:03,520 --> 00:05:05,360 Speaker 4: And I was thinking about this the other day because 109 00:05:05,760 --> 00:05:07,719 Speaker 4: as you know, I also I love Christmas. 110 00:05:07,800 --> 00:05:08,960 Speaker 2: I can't get on board your. 111 00:05:08,880 --> 00:05:11,680 Speaker 4: Habalween love and passion, but I will get on your 112 00:05:11,720 --> 00:05:15,039 Speaker 4: festive train. I was just thinking about it the other day, 113 00:05:15,080 --> 00:05:17,479 Speaker 4: like Christmas doesn't matter to some people other days of 114 00:05:17,520 --> 00:05:20,080 Speaker 4: the year do though, like some people all about birthdays, 115 00:05:20,120 --> 00:05:22,200 Speaker 4: you know what some people all about Valentine's Day. If 116 00:05:22,240 --> 00:05:24,680 Speaker 4: you're just Kiki, you're about every single day of every 117 00:05:24,680 --> 00:05:27,560 Speaker 4: single year that has every single kind of festival. 118 00:05:28,080 --> 00:05:29,000 Speaker 2: Can you dress up for it? 119 00:05:29,160 --> 00:05:32,920 Speaker 4: Jess is in exactly like, but it's really interesting seeing 120 00:05:32,920 --> 00:05:35,359 Speaker 4: people's values play out. And I don't think there's anything 121 00:05:35,440 --> 00:05:38,599 Speaker 4: wrong with just going I don't really do anything Christmas or. 122 00:05:38,600 --> 00:05:39,440 Speaker 5: I celebrate Honika. 123 00:05:39,680 --> 00:05:40,239 Speaker 2: Yeah, it's fine. 124 00:05:40,279 --> 00:05:43,320 Speaker 4: Like there's so many things that just it doesn't matter. 125 00:05:43,400 --> 00:05:45,920 Speaker 4: And I think there's so much social pressure to have 126 00:05:46,000 --> 00:05:47,840 Speaker 4: the best day ever on Christmas Day. And I was 127 00:05:47,880 --> 00:05:49,920 Speaker 4: talking to one of my girlfriends and all of her 128 00:05:49,920 --> 00:05:51,800 Speaker 4: family is into state, and she's like, oh, we're not 129 00:05:51,839 --> 00:05:52,440 Speaker 4: going into state. 130 00:05:52,480 --> 00:05:54,040 Speaker 2: This year ended up being too hard. 131 00:05:54,160 --> 00:05:56,600 Speaker 4: Like her parents are divorced, so it was going to 132 00:05:56,680 --> 00:05:58,880 Speaker 4: be like on two ends of the spectrum, like either 133 00:05:58,920 --> 00:06:00,440 Speaker 4: she went with her mum or she went their dad, 134 00:06:00,480 --> 00:06:02,919 Speaker 4: and then everyone was doing different things, like one was 135 00:06:02,920 --> 00:06:04,960 Speaker 4: going to breakfast and then lunch, and she just was like, 136 00:06:05,040 --> 00:06:07,440 Speaker 4: I'm not flying all the way there to go for 137 00:06:07,600 --> 00:06:09,840 Speaker 4: a lunch. That then everyone has to be out by 138 00:06:09,839 --> 00:06:11,400 Speaker 4: two to get to this other thing because there was 139 00:06:11,480 --> 00:06:13,920 Speaker 4: driving involved. She's like, so, I think I'm just hoping 140 00:06:13,920 --> 00:06:15,560 Speaker 4: for a hot day on Christmas Day and I'll just 141 00:06:15,600 --> 00:06:17,320 Speaker 4: go to the beach or something and read a new book. 142 00:06:17,320 --> 00:06:19,159 Speaker 2: And I was like, how good is that? 143 00:06:19,560 --> 00:06:22,000 Speaker 4: So I just think, let's celebrate having a day where 144 00:06:22,040 --> 00:06:24,600 Speaker 4: you put yourself first, and let's celebrate having a day 145 00:06:24,640 --> 00:06:25,760 Speaker 4: where if it's just too. 146 00:06:25,720 --> 00:06:28,000 Speaker 2: Much, you do get to opt out. It's your day. 147 00:06:28,360 --> 00:06:30,919 Speaker 4: If mentally you're just like, I don't even want to 148 00:06:30,920 --> 00:06:34,360 Speaker 4: go see these people, don't Yeah, don't absolutely it would 149 00:06:34,400 --> 00:06:37,000 Speaker 4: go to Christmas with a friend, do it. I've invited 150 00:06:37,040 --> 00:06:39,040 Speaker 4: so many of my friends that I know are going 151 00:06:39,040 --> 00:06:41,400 Speaker 4: to be orphans on Christmas is what we've been calling him. 152 00:06:41,560 --> 00:06:43,360 Speaker 2: Why don't you come over to mine? My mam will 153 00:06:43,440 --> 00:06:44,720 Speaker 2: love it. Yeah, Mom will be. 154 00:06:44,680 --> 00:06:47,760 Speaker 4: Like sick more children to feed, Like she's gonna adore it. 155 00:06:47,800 --> 00:06:49,960 Speaker 4: But I just think that it's so dated when you 156 00:06:50,040 --> 00:06:53,440 Speaker 4: talk about the traditions of Christmas, because the nuclear family, 157 00:06:53,680 --> 00:06:55,279 Speaker 4: I would just say, is stand at this point. 158 00:06:55,480 --> 00:06:57,440 Speaker 5: Yeah, it's shifted and it's changed. So hopefully a lot 159 00:06:57,440 --> 00:06:59,839 Speaker 5: of people listen to that episode and fell a little 160 00:06:59,839 --> 00:07:02,040 Speaker 5: bit reaffirmed in the decisions that they're making. Or felt 161 00:07:02,040 --> 00:07:04,800 Speaker 5: a little bit more comforted by it because we felt 162 00:07:04,800 --> 00:07:07,400 Speaker 5: like it was a really important thing to touch on, because, 163 00:07:07,680 --> 00:07:09,200 Speaker 5: as you said, we've been feeling it a little bit, 164 00:07:09,240 --> 00:07:11,120 Speaker 5: and we have no doubt that other people have been as. 165 00:07:10,960 --> 00:07:13,200 Speaker 4: Well, one hundred percent. So we hope you have a 166 00:07:13,200 --> 00:07:15,000 Speaker 4: good day regardless of what you are doing. And if 167 00:07:15,000 --> 00:07:17,800 Speaker 4: you don't have a good day, there's tomorrow. But let's 168 00:07:17,840 --> 00:07:20,000 Speaker 4: get onto our budget direct money wins and confessions from 169 00:07:20,000 --> 00:07:22,120 Speaker 4: this week, Miss Jess Garci, what are you bringing to 170 00:07:22,160 --> 00:07:23,000 Speaker 4: the table for us? 171 00:07:23,120 --> 00:07:23,720 Speaker 5: All right? 172 00:07:23,800 --> 00:07:24,800 Speaker 2: So are they all festive? 173 00:07:25,200 --> 00:07:25,720 Speaker 5: No, they're not. 174 00:07:26,200 --> 00:07:28,119 Speaker 2: Come on, and you've let yourself down. 175 00:07:28,360 --> 00:07:30,520 Speaker 5: That was a rookie mistake by me. But I do 176 00:07:30,600 --> 00:07:32,120 Speaker 5: have some good ones. So I'm going to start off 177 00:07:32,160 --> 00:07:34,360 Speaker 5: with Courtney, who has a couple of small money wins 178 00:07:34,360 --> 00:07:36,720 Speaker 5: for us. She said, Number one, I found an old 179 00:07:36,760 --> 00:07:39,400 Speaker 5: Mikey card that had expired three years ago. I rang 180 00:07:39,480 --> 00:07:41,280 Speaker 5: up and I got the balance that was on the 181 00:07:41,360 --> 00:07:44,120 Speaker 5: card refund it. Oh what, I don't even know. That 182 00:07:44,160 --> 00:07:45,600 Speaker 5: was a thing literally me too. 183 00:07:45,840 --> 00:07:48,800 Speaker 4: Hot tip though, you can register your Mikey's, and I 184 00:07:48,880 --> 00:07:51,680 Speaker 4: recommend this as a gal who used to always lose 185 00:07:51,720 --> 00:07:54,560 Speaker 4: her Mikeys, and thus the money on the Mikey if 186 00:07:54,560 --> 00:07:56,640 Speaker 4: you register them. If you lose the card, you can 187 00:07:56,720 --> 00:07:58,520 Speaker 4: just cancel the card and transfer the money to a 188 00:07:58,520 --> 00:07:58,800 Speaker 4: new one. 189 00:07:58,880 --> 00:08:01,480 Speaker 5: Jess, Oh, that's a good tip. Well, she said. She 190 00:08:01,600 --> 00:08:03,760 Speaker 5: used the money from her refund to pick up a 191 00:08:03,920 --> 00:08:07,920 Speaker 5: ticket to the She's on the Money International well Perth event, 192 00:08:07,960 --> 00:08:09,320 Speaker 5: which we haven't even spoken about. 193 00:08:09,400 --> 00:08:11,720 Speaker 4: Oh my gosh, no, I'm so excited. We released what 194 00:08:11,840 --> 00:08:13,960 Speaker 4: was it, like two weeks ago? We released the tickets 195 00:08:13,960 --> 00:08:16,360 Speaker 4: to the She's on the Money International Women's Day events 196 00:08:16,440 --> 00:08:20,360 Speaker 4: and I am so excited because we just haven't been 197 00:08:20,400 --> 00:08:22,040 Speaker 4: able to do it in the way that we did. 198 00:08:22,040 --> 00:08:24,360 Speaker 4: Like last year was our first and like I think 199 00:08:24,360 --> 00:08:26,239 Speaker 4: people assume because we are a big podcast. 200 00:08:26,240 --> 00:08:27,880 Speaker 2: That sounds so funny to say, but when we're a. 201 00:08:27,920 --> 00:08:30,200 Speaker 4: Big podcast, they're like, oh, they must have so much money, 202 00:08:30,240 --> 00:08:32,480 Speaker 4: Like why an't they coming everywhere? It's like we're actually 203 00:08:32,520 --> 00:08:34,280 Speaker 4: a little small business and we have a lot of 204 00:08:34,320 --> 00:08:36,800 Speaker 4: expenses because we have a big team, and like, I'm 205 00:08:36,840 --> 00:08:38,600 Speaker 4: so grateful to be able to pay it. But like 206 00:08:39,000 --> 00:08:41,000 Speaker 4: last year we could only do Sydney and Melbourne and 207 00:08:41,040 --> 00:08:43,839 Speaker 4: it was beautiful, But now what are we doing Jess? 208 00:08:44,000 --> 00:08:46,440 Speaker 5: Sydney Melbourne Brisbane and Perth. 209 00:08:46,760 --> 00:08:48,520 Speaker 2: We're going to see our Perth friends. 210 00:08:48,520 --> 00:08:50,920 Speaker 4: And I feel like that was the one thing on 211 00:08:51,040 --> 00:08:53,800 Speaker 4: International Women's Day last year. I had so many messages 212 00:08:53,840 --> 00:08:56,160 Speaker 4: from so many people being like, hey, next year, do 213 00:08:56,200 --> 00:08:57,880 Speaker 4: you think you could come to Perth? Like no one 214 00:08:57,960 --> 00:09:00,000 Speaker 4: was angry. Everyone was just so sweet and so clol 215 00:09:00,440 --> 00:09:02,720 Speaker 4: and I was like, of course, Like I'll try so hard, 216 00:09:02,880 --> 00:09:05,800 Speaker 4: but obviously Perth is probably going to be like, let's 217 00:09:05,800 --> 00:09:07,480 Speaker 4: be honest, sissus sheese on money, we can talk about 218 00:09:07,480 --> 00:09:09,920 Speaker 4: the financials. It's going to be our most expensive city 219 00:09:09,960 --> 00:09:11,920 Speaker 4: to go to because we have to get our. 220 00:09:11,800 --> 00:09:12,880 Speaker 2: Whole team over there. 221 00:09:12,920 --> 00:09:14,600 Speaker 4: We have to ship all of out because we do 222 00:09:14,679 --> 00:09:17,680 Speaker 4: gift bags, obviously, we have to ship everything over to 223 00:09:17,760 --> 00:09:20,160 Speaker 4: that side of the country. We have to get all 224 00:09:20,160 --> 00:09:22,959 Speaker 4: of our audio recording equipment. We have to get everything 225 00:09:23,040 --> 00:09:25,440 Speaker 4: to the other side of the country. We then have 226 00:09:25,559 --> 00:09:27,920 Speaker 4: to pay for flats and accommodation, and that's going to 227 00:09:27,960 --> 00:09:30,360 Speaker 4: be more than just like flying to Sydney for the day, 228 00:09:30,400 --> 00:09:32,760 Speaker 4: which is what we did last time. I'm so excited 229 00:09:32,760 --> 00:09:35,280 Speaker 4: to pay for all of these. Yeah, but how good 230 00:09:35,360 --> 00:09:37,320 Speaker 4: is it that we're now at a point in our business? 231 00:09:37,360 --> 00:09:39,079 Speaker 2: Yes, Perth gets included. 232 00:09:39,160 --> 00:09:40,800 Speaker 5: I know we've doubled the number of cities, and we're 233 00:09:40,800 --> 00:09:42,640 Speaker 5: starting messages from people being like, come to camera, come 234 00:09:42,640 --> 00:09:45,360 Speaker 5: to Adelaide. We love to we try, we're doing our 235 00:09:45,400 --> 00:09:48,480 Speaker 5: best and so hopefully this year, you know, if Perth 236 00:09:48,559 --> 00:09:50,600 Speaker 5: is really successful, it'll set us up for the year 237 00:09:50,640 --> 00:09:52,719 Speaker 5: after or maybe for another event later in the year 238 00:09:52,760 --> 00:09:54,920 Speaker 5: to get to my places. We would love to be 239 00:09:54,960 --> 00:09:57,080 Speaker 5: everywhere if we could. But for the meantime, we're so 240 00:09:57,160 --> 00:09:59,679 Speaker 5: excited to be going twice as many cities as we 241 00:09:59,679 --> 00:10:01,920 Speaker 5: did like Lush. Yeah, so Courtney, we will see you 242 00:10:01,960 --> 00:10:02,480 Speaker 5: in person. 243 00:10:02,520 --> 00:10:03,400 Speaker 2: I'm so excited. 244 00:10:03,520 --> 00:10:03,600 Speaker 1: Oh. 245 00:10:03,640 --> 00:10:05,280 Speaker 4: I have so many other ideas as well, like I 246 00:10:05,280 --> 00:10:06,840 Speaker 4: want to do a workshop tour. I want to do 247 00:10:06,920 --> 00:10:09,080 Speaker 4: like other podcast tours like but like, let's not talk 248 00:10:09,120 --> 00:10:10,720 Speaker 4: about that now because I could go on and on 249 00:10:10,800 --> 00:10:13,040 Speaker 4: about it. But I think twenty twenty three is going 250 00:10:13,040 --> 00:10:14,440 Speaker 4: to be a very exciting year. 251 00:10:14,520 --> 00:10:16,320 Speaker 5: Jess I think so as well. But let me tell 252 00:10:16,360 --> 00:10:18,800 Speaker 5: you my next money win, which comes from Jessica great Name. 253 00:10:19,000 --> 00:10:19,720 Speaker 2: Ten out of ten. 254 00:10:19,920 --> 00:10:22,320 Speaker 5: She said, I had an urgent plumbing issue where both 255 00:10:22,360 --> 00:10:25,720 Speaker 5: toilets bottom inlet valves went at once. Don't know what 256 00:10:25,720 --> 00:10:25,959 Speaker 5: that means. 257 00:10:26,000 --> 00:10:28,600 Speaker 2: I don't know what that means, but it sounds expensive, disastrous. 258 00:10:28,960 --> 00:10:31,200 Speaker 5: Late night plumber call out one hundred and fifty dollars 259 00:10:31,400 --> 00:10:35,960 Speaker 5: he quoted eighteen hundred dollars for parts and installation for toilets. 260 00:10:36,000 --> 00:10:37,720 Speaker 4: For a toilet, I'm going to Bunnings and buying a 261 00:10:37,720 --> 00:10:38,600 Speaker 4: new one myself. 262 00:10:38,679 --> 00:10:39,280 Speaker 2: I will do it. 263 00:10:39,480 --> 00:10:39,680 Speaker 4: Well. 264 00:10:39,679 --> 00:10:42,440 Speaker 5: Well, wow, Jessica said, not today, Satan. She bought the 265 00:10:42,480 --> 00:10:45,559 Speaker 5: parts from Bunnings for forty seven dollars and self installed. 266 00:10:45,800 --> 00:10:48,720 Speaker 5: Total cost one hundred and ninety seven dollars, saving nearly 267 00:10:48,840 --> 00:10:50,040 Speaker 5: sixteen hundred. 268 00:10:49,800 --> 00:10:51,920 Speaker 2: Do you know what that's embarrassing for that plumber? 269 00:10:52,200 --> 00:10:54,800 Speaker 4: Well, yeah, you tried to take advantage of that poor 270 00:10:54,840 --> 00:10:56,679 Speaker 4: girl who you thought didn't know what. 271 00:10:56,640 --> 00:10:59,280 Speaker 2: She was talking about. She just trotted down to Bunnings 272 00:10:59,280 --> 00:10:59,920 Speaker 2: and was like, I'm a dot. 273 00:11:00,760 --> 00:11:00,960 Speaker 1: Yeah. 274 00:11:01,000 --> 00:11:03,800 Speaker 5: That much money you get a queen. The markup is absurd. 275 00:11:04,400 --> 00:11:06,920 Speaker 5: Next win I've got today comes from Aaron, who said 276 00:11:06,920 --> 00:11:09,480 Speaker 5: money win. I used my shop back balance to pay 277 00:11:09,520 --> 00:11:11,559 Speaker 5: for my annual car service, and I was. 278 00:11:11,520 --> 00:11:13,440 Speaker 2: Like, what are you doing, mar. 279 00:11:13,520 --> 00:11:16,480 Speaker 4: Oh my gosh, talking about shop back balances, jess The 280 00:11:16,559 --> 00:11:19,400 Speaker 4: other day I redid my computer. Long story short, I 281 00:11:19,440 --> 00:11:21,600 Speaker 4: had to uninstall Chrome and reinstall it, and none of 282 00:11:21,640 --> 00:11:24,040 Speaker 4: my extensions were there, so I had to redownload the 283 00:11:24,080 --> 00:11:25,960 Speaker 4: shop back extension. But that means you have to like 284 00:11:26,000 --> 00:11:28,800 Speaker 4: go on the website and login anyway. Really easy. Making 285 00:11:28,840 --> 00:11:31,360 Speaker 4: it sound more complicated than I promise, it's really easy. 286 00:11:31,559 --> 00:11:33,640 Speaker 4: I looked at my shop back balance. Guse how much 287 00:11:33,640 --> 00:11:33,840 Speaker 4: I have? 288 00:11:33,920 --> 00:11:34,600 Speaker 5: Jess, how much? 289 00:11:34,760 --> 00:11:37,160 Speaker 2: Two hundred and eighty dollars stop, I'm rich. 290 00:11:37,720 --> 00:11:38,720 Speaker 5: That's a that's. 291 00:11:38,559 --> 00:11:41,160 Speaker 4: Money I got back that I am now absolutely spending 292 00:11:41,200 --> 00:11:42,320 Speaker 4: on Lulu Lemon leggings. 293 00:11:42,320 --> 00:11:44,120 Speaker 5: Oh my god. Okay, you do you think. 294 00:11:43,960 --> 00:11:45,160 Speaker 2: I'm going to save that for Christmas? 295 00:11:45,240 --> 00:11:48,559 Speaker 5: No, save it for me as you should treat yourself, queen. 296 00:11:49,040 --> 00:11:51,560 Speaker 5: My next money win comes from Katie, who said she 297 00:11:51,679 --> 00:11:54,840 Speaker 5: got her first paying client for her new photography business 298 00:11:55,040 --> 00:11:57,960 Speaker 5: and they upgraded and bought the full gallery. I am 299 00:11:58,040 --> 00:12:00,000 Speaker 5: unbelievably excited and proud of myself. 300 00:12:00,000 --> 00:12:01,440 Speaker 2: I turned great Angel. 301 00:12:01,679 --> 00:12:03,480 Speaker 5: That's for you, Katie. That's so exciting. 302 00:12:03,640 --> 00:12:04,320 Speaker 2: Oh my gosh. 303 00:12:04,360 --> 00:12:06,960 Speaker 4: That makes me so excited because I'm hoping in twenty 304 00:12:07,040 --> 00:12:09,560 Speaker 4: twenty three we bring back the business Bible. I just 305 00:12:09,559 --> 00:12:12,040 Speaker 4: want to have more small business conversations. Yeah, I feel 306 00:12:12,040 --> 00:12:15,120 Speaker 4: like this community needs more love and I've been a 307 00:12:15,160 --> 00:12:18,600 Speaker 4: bit busy recently, but business Bible, she's coming back. 308 00:12:18,640 --> 00:12:19,079 Speaker 2: My loves. 309 00:12:19,080 --> 00:12:21,280 Speaker 5: We see you small business side hustlers, and we have 310 00:12:21,400 --> 00:12:24,640 Speaker 5: got you. Next win comes from Emily, who says, long 311 00:12:24,640 --> 00:12:26,760 Speaker 5: story short, I caught up my car insurance and I 312 00:12:26,840 --> 00:12:29,680 Speaker 5: legally changed my name. I had a terrible experience with 313 00:12:29,720 --> 00:12:32,120 Speaker 5: the person on the phone. I had a really big cry, 314 00:12:32,240 --> 00:12:34,480 Speaker 5: both on and off the phone. But then I took 315 00:12:34,480 --> 00:12:36,400 Speaker 5: a deep breath and reminded myself that I am a 316 00:12:36,440 --> 00:12:37,040 Speaker 5: boss queen. 317 00:12:37,240 --> 00:12:37,920 Speaker 2: Yes you are. 318 00:12:38,040 --> 00:12:40,120 Speaker 5: I don't know anybody money for a service that I'm 319 00:12:40,160 --> 00:12:42,800 Speaker 5: not happy with. So I got a quote from RACQ 320 00:12:43,160 --> 00:12:46,040 Speaker 5: with the exact same details as the prior insurance, paid 321 00:12:46,040 --> 00:12:50,400 Speaker 5: it out right and saved myself seven hundred dollars a year. Sorry, what, queen, Yeah, 322 00:12:50,400 --> 00:12:51,560 Speaker 5: that is boss queen behavior. 323 00:12:51,559 --> 00:12:52,080 Speaker 2: She's started. 324 00:12:52,360 --> 00:12:54,520 Speaker 5: No, she was not wrong, and then. 325 00:12:54,400 --> 00:12:56,319 Speaker 2: You're allowed to cry. But then we get up and. 326 00:12:56,280 --> 00:12:58,320 Speaker 5: We fix it. Yeah, and you save yourself seven hundred 327 00:12:58,320 --> 00:12:59,800 Speaker 5: dollars in the process, And that is a win if 328 00:12:59,800 --> 00:13:02,120 Speaker 5: I've ever heard one. My very last money win for 329 00:13:02,160 --> 00:13:05,160 Speaker 5: today comes from Crystal, who says, I joined Cherseas a 330 00:13:05,200 --> 00:13:08,560 Speaker 5: year ago and have consistently put money in every single payday, 331 00:13:08,840 --> 00:13:11,079 Speaker 5: no matter what else I had going on for the entire. 332 00:13:11,000 --> 00:13:13,000 Speaker 4: Year, I saw that, and I think that's so special. 333 00:13:13,240 --> 00:13:15,480 Speaker 4: Good on you, crist is so hard to commit to 334 00:13:15,520 --> 00:13:17,920 Speaker 4: an investment plan because sometimes you're just like, oh, that 335 00:13:18,000 --> 00:13:20,320 Speaker 4: money could go to something else, because it's so hard 336 00:13:20,320 --> 00:13:21,240 Speaker 4: to see the bigger picture. 337 00:13:21,280 --> 00:13:23,079 Speaker 2: But like future you, she's so. 338 00:13:23,120 --> 00:13:25,560 Speaker 5: Proud and we are proud of you too. Good on you, 339 00:13:25,640 --> 00:13:26,400 Speaker 5: one hundred percent. 340 00:13:26,440 --> 00:13:29,000 Speaker 4: Well Jess, as always, it has been great celebrating some 341 00:13:29,080 --> 00:13:30,480 Speaker 4: of your budget direct money wins. 342 00:13:30,559 --> 00:13:31,800 Speaker 2: Budget Direct winner. 343 00:13:31,600 --> 00:13:34,400 Speaker 4: Of cans does Insurer of the Year odd twenty twenty 344 00:13:34,400 --> 00:13:41,520 Speaker 4: two Budget Direct Insurance solved. 345 00:13:42,000 --> 00:13:44,280 Speaker 5: All right, guys, today I want to chat all about 346 00:13:44,280 --> 00:13:48,000 Speaker 5: an article I read recently talking about overtime, which I 347 00:13:48,040 --> 00:13:50,760 Speaker 5: know is a bit of a contentious topic, but some 348 00:13:50,880 --> 00:13:54,160 Speaker 5: research has been done which showed that underpaid overtime is 349 00:13:54,240 --> 00:13:59,880 Speaker 5: costing Australians ninety two billion dollars a year billion billions. 350 00:14:00,120 --> 00:14:04,520 Speaker 5: So Australians are working the equivalent of six extra full 351 00:14:04,520 --> 00:14:07,600 Speaker 5: time weeks a year in unpaid overtime, equating to over 352 00:14:07,640 --> 00:14:10,640 Speaker 5: eight thousand dollars in lost wages for the average worker, 353 00:14:10,960 --> 00:14:13,320 Speaker 5: leading to that total of ninety two billion dollars overall. 354 00:14:13,679 --> 00:14:17,079 Speaker 5: The research was done by the Australian Institute. Its surveyed 355 00:14:17,120 --> 00:14:20,400 Speaker 5: over one thousand workers and it shows that the average 356 00:14:20,400 --> 00:14:23,360 Speaker 5: worker worked four point three hours of unpaid overtime a 357 00:14:23,360 --> 00:14:26,480 Speaker 5: week on average, which doesn't sound like a lot. I 358 00:14:26,520 --> 00:14:28,560 Speaker 5: suppose if you go, oh, four hours a week, you know, 359 00:14:28,600 --> 00:14:31,120 Speaker 5: if it's twenty minutes a day, it's happened to the 360 00:14:31,120 --> 00:14:32,840 Speaker 5: best of us and you kind of just don't notice 361 00:14:32,880 --> 00:14:36,200 Speaker 5: the time disappearing. But obviously when you look at those 362 00:14:36,200 --> 00:14:39,840 Speaker 5: bigger numbers, it's adding up really significantly, and the outcome 363 00:14:39,840 --> 00:14:43,680 Speaker 5: there is a lot of lost cash for workers. Industries 364 00:14:43,720 --> 00:14:47,000 Speaker 5: such as agriculture and miners worked the largest amount of 365 00:14:47,080 --> 00:14:50,160 Speaker 5: unpaid overtime and average of five point eight hours a week, 366 00:14:50,480 --> 00:14:53,720 Speaker 5: and managers worked the most unpaid overtime of five point 367 00:14:53,840 --> 00:14:54,640 Speaker 5: seven hours a week. 368 00:14:54,680 --> 00:14:57,120 Speaker 4: I'm not surprised by that, No, neither am I It's 369 00:14:57,160 --> 00:14:59,200 Speaker 4: really sad though. I just feel like we should be 370 00:14:59,240 --> 00:15:01,600 Speaker 4: getting paid for the work that we're doing, Like, why 371 00:15:01,640 --> 00:15:02,400 Speaker 4: is it so hard? 372 00:15:02,520 --> 00:15:02,760 Speaker 2: Yess? 373 00:15:03,040 --> 00:15:06,000 Speaker 5: Well, yeah, most participants said that they've performed over time 374 00:15:06,120 --> 00:15:08,440 Speaker 5: seventy one percent of them, which again doesn't surprise me. 375 00:15:08,840 --> 00:15:11,120 Speaker 5: Almost half of those who have done so say they 376 00:15:11,120 --> 00:15:13,600 Speaker 5: do it regularly, and I thought it was interesting to 377 00:15:13,640 --> 00:15:16,840 Speaker 5: talk about. You know, there's a few things I think 378 00:15:16,960 --> 00:15:20,560 Speaker 5: missing in terms of information from this research. But at 379 00:15:20,560 --> 00:15:22,400 Speaker 5: what point do we go enough is enough? 380 00:15:22,760 --> 00:15:25,440 Speaker 4: How do you even have that conversation though? And Jess, 381 00:15:25,480 --> 00:15:27,160 Speaker 4: you and I were talking about this when we were 382 00:15:27,200 --> 00:15:29,680 Speaker 4: saying earlier before recording the episode, like, oh, what are 383 00:15:29,720 --> 00:15:31,080 Speaker 4: we going to talk about today? And I said, Oh, 384 00:15:31,120 --> 00:15:33,240 Speaker 4: I think this is a really good conversation to have. 385 00:15:33,800 --> 00:15:36,640 Speaker 4: And you know, like example, a job like yours, your 386 00:15:36,800 --> 00:15:39,440 Speaker 4: salary and way journer, and I hope I'm not overstepping 387 00:15:39,480 --> 00:15:42,360 Speaker 4: the mark by sharing the information in your employment contract 388 00:15:42,400 --> 00:15:45,920 Speaker 4: are with one point ten million people, but in your 389 00:15:45,960 --> 00:15:49,760 Speaker 4: contract it says and reasonable time to get the job done. 390 00:15:49,880 --> 00:15:53,400 Speaker 4: But I feel like that's a reasonable inclusion because sometimes 391 00:15:53,400 --> 00:15:56,360 Speaker 4: we're really busy and sometimes I'm like, ah, yes, just 392 00:15:56,440 --> 00:15:59,359 Speaker 4: take the afternoon or you know, we we're quite flexible. 393 00:15:59,720 --> 00:16:01,960 Speaker 2: But then I look back at our histories. 394 00:16:01,960 --> 00:16:03,760 Speaker 4: Do you remember when we both used to work in 395 00:16:03,800 --> 00:16:07,000 Speaker 4: retail and we have had this conversation before. So I 396 00:16:07,120 --> 00:16:09,080 Speaker 4: worked at the shoe store, Jess used to work at 397 00:16:09,120 --> 00:16:11,960 Speaker 4: a clothing store. Both of them were relatively well known 398 00:16:12,240 --> 00:16:14,160 Speaker 4: and Jess, what did you used to get in trouble 399 00:16:14,240 --> 00:16:15,880 Speaker 4: for or they'd be like, oh, don't I jess to 400 00:16:15,920 --> 00:16:16,200 Speaker 4: do that. 401 00:16:16,600 --> 00:16:19,280 Speaker 5: Oh. They'd ask everyone to come in ten minutes early 402 00:16:19,320 --> 00:16:22,080 Speaker 5: to their shift to like get familiar with the. 403 00:16:21,960 --> 00:16:24,000 Speaker 4: Stores if you've never been there before and hadn't worked 404 00:16:24,040 --> 00:16:24,920 Speaker 4: there for the last three years. 405 00:16:25,000 --> 00:16:26,920 Speaker 5: Yeah, like, oh the VM's changing the week or whatever. 406 00:16:26,920 --> 00:16:29,440 Speaker 5: The expectation is that you're here ten minutes before your shift. 407 00:16:29,480 --> 00:16:31,040 Speaker 5: We stuff put away, and you do a walk around 408 00:16:31,040 --> 00:16:33,920 Speaker 5: and familiarize yourself with everything. And I'd say, are you 409 00:16:33,920 --> 00:16:35,480 Speaker 5: gonna pay me for those ten minutes? And they would 410 00:16:35,520 --> 00:16:37,320 Speaker 5: say no, and I'd say, no problems, I'll see you 411 00:16:37,400 --> 00:16:39,440 Speaker 5: on the dot of my starting time, ready to work, 412 00:16:39,480 --> 00:16:40,800 Speaker 5: because maady to work. 413 00:16:40,840 --> 00:16:43,920 Speaker 4: Then absolutely. I used to get the oh can you 414 00:16:43,960 --> 00:16:46,760 Speaker 4: just stay back like and close. So remember our store 415 00:16:46,840 --> 00:16:49,320 Speaker 4: worked on Chapel Street, so it was quite busy, and 416 00:16:49,400 --> 00:16:52,600 Speaker 4: our store would close at six pm, and that meant 417 00:16:52,880 --> 00:16:55,280 Speaker 4: that I was only getting paid till six pm. But 418 00:16:55,400 --> 00:16:58,320 Speaker 4: on like a Saturday, six pm on Chapel Street is 419 00:16:58,440 --> 00:17:00,440 Speaker 4: pretty busy, like and for those of you playing along 420 00:17:00,440 --> 00:17:03,040 Speaker 4: at home, Chapel Street is a very big shopping strip 421 00:17:03,080 --> 00:17:05,800 Speaker 4: here in Melbourne and it would close at six pm 422 00:17:05,880 --> 00:17:08,359 Speaker 4: and then for us to you know, revm the store 423 00:17:08,760 --> 00:17:11,600 Speaker 4: clean up and you know, do cash up and all 424 00:17:11,640 --> 00:17:13,679 Speaker 4: of that. After the doors were locked, we would be 425 00:17:13,760 --> 00:17:16,240 Speaker 4: there for a minimum of like half an hour forty minutes. 426 00:17:16,280 --> 00:17:18,280 Speaker 4: And we brought that up in team meetings so many 427 00:17:18,280 --> 00:17:20,280 Speaker 4: times because I was like, hey, like, you know, if 428 00:17:20,280 --> 00:17:22,600 Speaker 4: we close the door at six, like, it's rude to 429 00:17:22,640 --> 00:17:26,399 Speaker 4: start cashing up before, you know, when there's customers in 430 00:17:26,400 --> 00:17:28,520 Speaker 4: the store, Like, we can't do that, we can't close 431 00:17:28,520 --> 00:17:30,080 Speaker 4: the door ten minutes early or whatever. 432 00:17:30,320 --> 00:17:32,160 Speaker 2: And they'd be like, oh, yep, that's part of your job. 433 00:17:32,200 --> 00:17:33,760 Speaker 4: And I'd be like, okay, but if I'm expected to 434 00:17:33,800 --> 00:17:36,000 Speaker 4: be here till six thirty every single night and that's 435 00:17:36,359 --> 00:17:39,920 Speaker 4: a consistent expectation because that's the way this works, shouldn't 436 00:17:39,920 --> 00:17:41,680 Speaker 4: I be paid for it? And they were so offended 437 00:17:41,680 --> 00:17:44,159 Speaker 4: that I'd asked, Yeah. They also used to have pizza 438 00:17:44,200 --> 00:17:46,359 Speaker 4: parties at eight pm on like Thursday. 439 00:17:46,400 --> 00:17:47,720 Speaker 5: Oh my god, a staff meeting. 440 00:17:47,760 --> 00:17:49,639 Speaker 4: That's mandatory that you have to be out and I'm 441 00:17:49,680 --> 00:17:52,399 Speaker 4: not gonna be paid, but they did pizza. 442 00:17:52,480 --> 00:17:54,119 Speaker 5: I Actually I don't think i've put it out yet. 443 00:17:54,160 --> 00:17:56,080 Speaker 5: But I found a bunch of tiktoks on this topic 444 00:17:56,119 --> 00:17:59,040 Speaker 5: because retail at Christmas really do be trying it on 445 00:17:59,200 --> 00:18:00,800 Speaker 5: and I'm not here for And I was always that 446 00:18:00,840 --> 00:18:03,360 Speaker 5: person who knew my rights and would be like no, sir. 447 00:18:03,600 --> 00:18:04,480 Speaker 2: So I can see how. 448 00:18:04,400 --> 00:18:07,480 Speaker 4: These like billion dollars of unpaid over time at least, 449 00:18:07,720 --> 00:18:10,359 Speaker 4: because even I copped it when I was at UNI 450 00:18:10,400 --> 00:18:13,680 Speaker 4: working in retail, and like, I loved my job in retail. 451 00:18:13,880 --> 00:18:16,080 Speaker 4: I was so good at it, Like I love talking 452 00:18:16,119 --> 00:18:18,280 Speaker 4: to people. I mean half the time I wasn't even 453 00:18:18,280 --> 00:18:20,119 Speaker 4: selling product. To'd be like, what are you up to today? Oh? 454 00:18:20,200 --> 00:18:22,719 Speaker 2: Yeah, did you get a smoothie? Like, what's up anyway? 455 00:18:22,800 --> 00:18:25,639 Speaker 4: I used to have so much fun, but it just 456 00:18:25,880 --> 00:18:28,080 Speaker 4: it would absolutely take the mickey. I remember it got 457 00:18:28,080 --> 00:18:29,720 Speaker 4: to a point where they were asking us to come 458 00:18:29,720 --> 00:18:32,040 Speaker 4: in half an hour early because they didn't want people 459 00:18:32,080 --> 00:18:33,960 Speaker 4: to be late. I'm like, I get that you don't 460 00:18:34,000 --> 00:18:36,520 Speaker 4: want us to be late, Like that's something that you can, 461 00:18:36,680 --> 00:18:39,440 Speaker 4: you know, discipline us for if we are consistently late, 462 00:18:39,520 --> 00:18:41,680 Speaker 4: but like, I'm not coming in half an hour early 463 00:18:41,760 --> 00:18:43,960 Speaker 4: to stand out the back half an hour before my shift. 464 00:18:44,119 --> 00:18:46,040 Speaker 5: Thirty eight percent of workers in the survey said that 465 00:18:46,080 --> 00:18:49,880 Speaker 5: working overtime was expected in their workplace, and I feel 466 00:18:49,920 --> 00:18:52,600 Speaker 5: like it's becoming more and more the standard, particularly as 467 00:18:52,680 --> 00:18:56,000 Speaker 5: after COVID. You know, we've rolled into a little bit 468 00:18:56,040 --> 00:18:59,320 Speaker 5: more flexible working, which works in favor in some ways, 469 00:18:59,359 --> 00:19:02,359 Speaker 5: but I think it's also shifted the expectation a little 470 00:19:02,400 --> 00:19:05,080 Speaker 5: bit as well. So for someone like me, when we're 471 00:19:05,080 --> 00:19:07,960 Speaker 5: not in the office, I save anywhere from three to 472 00:19:08,000 --> 00:19:11,199 Speaker 5: four hours of driving time because trackic is crazy and 473 00:19:11,240 --> 00:19:13,399 Speaker 5: I live quite far out of the city. But for me, 474 00:19:13,480 --> 00:19:15,159 Speaker 5: I go, oh, great, Like if I'm not spending that 475 00:19:15,200 --> 00:19:16,760 Speaker 5: time in the car and I've got something that I 476 00:19:16,800 --> 00:19:18,960 Speaker 5: need to do, of course, I'm so happy to work 477 00:19:19,000 --> 00:19:21,160 Speaker 5: through it, because I am also the kind of person 478 00:19:21,160 --> 00:19:24,000 Speaker 5: who just gets stressed out by knowing there's something that's 479 00:19:24,000 --> 00:19:27,080 Speaker 5: sitting there. But I think that's very different from the 480 00:19:27,119 --> 00:19:30,520 Speaker 5: culture that is developed within certain industries. I know marketing 481 00:19:30,640 --> 00:19:32,120 Speaker 5: is really bad for it, because I have a few 482 00:19:32,119 --> 00:19:36,240 Speaker 5: friends who work in that industry where if your work 483 00:19:36,280 --> 00:19:38,800 Speaker 5: finishes at five o'clock and it's five h five and 484 00:19:38,840 --> 00:19:40,640 Speaker 5: you get up and you start packing up your things, 485 00:19:40,640 --> 00:19:41,800 Speaker 5: people go, oh, where are you going? 486 00:19:42,200 --> 00:19:45,080 Speaker 4: I'm going home because you're not paying me anymore in 487 00:19:45,160 --> 00:19:48,480 Speaker 4: saying that, I see that passion in my husband. See, 488 00:19:49,080 --> 00:19:52,960 Speaker 4: he works in digital and analytics, and he gets up 489 00:19:53,040 --> 00:19:55,760 Speaker 4: and like he always starts early. He's probably online from 490 00:19:55,920 --> 00:19:58,800 Speaker 4: just before eight every morning, but then he has a 491 00:19:58,840 --> 00:20:02,160 Speaker 4: team overseas and they don't come online until like three 492 00:20:02,240 --> 00:20:04,400 Speaker 4: or four pm. I think it is so he'll work 493 00:20:04,480 --> 00:20:07,480 Speaker 4: through till eight pm most nights at a minimum, and 494 00:20:07,520 --> 00:20:10,040 Speaker 4: then be answering emails on his phone while we're watching 495 00:20:10,080 --> 00:20:11,919 Speaker 4: Netflix at night. And like it's fine because I know 496 00:20:12,000 --> 00:20:14,280 Speaker 4: he loves his job and like he manages these people 497 00:20:14,320 --> 00:20:16,520 Speaker 4: and adores it. But I'm like, I know that's not builty, 498 00:20:16,560 --> 00:20:19,720 Speaker 4: and that's so much extra over time. Yeah, that isn't 499 00:20:19,760 --> 00:20:22,679 Speaker 4: catered for. And it's fine because you know, he's quite 500 00:20:22,720 --> 00:20:26,320 Speaker 4: a independent strong man who knows how to, you know, 501 00:20:26,400 --> 00:20:29,000 Speaker 4: define his own boundaries. But I just think we need 502 00:20:29,040 --> 00:20:32,280 Speaker 4: to consider the impact on work life balance, Like, yeah, 503 00:20:32,280 --> 00:20:34,240 Speaker 4: you might love your job, but like at what cost, 504 00:20:35,000 --> 00:20:38,119 Speaker 4: and if it's costing us billions of dollars, maybe we 505 00:20:38,160 --> 00:20:39,560 Speaker 4: do need to be paid over time. 506 00:20:39,840 --> 00:20:42,200 Speaker 5: Yeah, so for people who are finding themselves doing that, 507 00:20:42,560 --> 00:20:45,360 Speaker 5: particularly people in industries where overtime is something that's meant 508 00:20:45,359 --> 00:20:49,440 Speaker 5: to be paid like nurses, and you know, our laborers 509 00:20:49,480 --> 00:20:52,520 Speaker 5: and people who do have an hourly overtime rate that 510 00:20:52,520 --> 00:20:55,639 Speaker 5: they're meant to be paid, tracking that, raising it with 511 00:20:55,680 --> 00:20:58,000 Speaker 5: your manager where appropriate, And if you're on a salary 512 00:20:58,040 --> 00:20:59,760 Speaker 5: and it's built in and you feel like you're doing 513 00:21:00,119 --> 00:21:03,280 Speaker 5: overwhelming amount of overtime, keep a track of it because 514 00:21:03,320 --> 00:21:05,800 Speaker 5: I think you lose those minutes and you go, oh, 515 00:21:05,800 --> 00:21:08,080 Speaker 5: it's only half an hour here, an hour there, But 516 00:21:08,119 --> 00:21:09,399 Speaker 5: then you add it up and you go, oh, in 517 00:21:09,440 --> 00:21:12,200 Speaker 5: the last six months, I've done, wow, six hundred hours 518 00:21:12,200 --> 00:21:12,879 Speaker 5: of overtime. 519 00:21:13,000 --> 00:21:15,679 Speaker 4: But you need to be communicating that with your boss 520 00:21:15,720 --> 00:21:18,359 Speaker 4: as well. And you know we've talked about this on 521 00:21:18,400 --> 00:21:21,480 Speaker 4: the podcast before. I genuinely believe that there's like one 522 00:21:21,520 --> 00:21:24,080 Speaker 4: of two outcomes, like if Jess, your job isn't able 523 00:21:24,119 --> 00:21:25,880 Speaker 4: to be done in the thirty eight hours a week 524 00:21:25,920 --> 00:21:29,240 Speaker 4: that I pay you for, either you're not very productive 525 00:21:29,320 --> 00:21:31,159 Speaker 4: during that thirty eight hours a week and maybe you 526 00:21:31,200 --> 00:21:33,200 Speaker 4: do need to stay back a little bit because maybe 527 00:21:33,200 --> 00:21:35,840 Speaker 4: you fluffed around and chatted to the team around the 528 00:21:35,880 --> 00:21:39,000 Speaker 4: water cooler for a little bit too long, or I've 529 00:21:39,040 --> 00:21:41,600 Speaker 4: over allocated work to you and therefore it's on me 530 00:21:41,800 --> 00:21:44,399 Speaker 4: as your manager to reassess what that looks like and 531 00:21:44,480 --> 00:21:46,400 Speaker 4: take some work off you so that you have better 532 00:21:46,440 --> 00:21:49,320 Speaker 4: work life balance. It's either one of those two things. 533 00:21:49,600 --> 00:21:52,520 Speaker 4: And if we're not meeting that, like what is it? 534 00:21:52,600 --> 00:21:54,040 Speaker 4: And I think that, then there's a little bit of 535 00:21:54,040 --> 00:21:56,840 Speaker 4: a gray area where Jess, you're very guilty of this, 536 00:21:57,000 --> 00:21:59,320 Speaker 4: and that's being very passionate for your job. So sometimes 537 00:21:59,320 --> 00:22:00,920 Speaker 4: I'll be all making put you don't. I'll be like, Jess, 538 00:22:00,920 --> 00:22:01,639 Speaker 4: what are you doing online? 539 00:22:01,640 --> 00:22:02,120 Speaker 2: It's eight pm. 540 00:22:02,200 --> 00:22:03,520 Speaker 4: You be like, I just had this idea and I 541 00:22:03,520 --> 00:22:05,760 Speaker 4: really wanted to document it and I really appreciate it. 542 00:22:06,040 --> 00:22:09,520 Speaker 4: But it's what is overtime versus what is passion? Like 543 00:22:09,600 --> 00:22:11,840 Speaker 4: if you are happy to, you know, take on another 544 00:22:11,880 --> 00:22:14,480 Speaker 4: client and you know that it's going to take extra time, 545 00:22:15,040 --> 00:22:17,879 Speaker 4: is that overtime or is that you being excited? I 546 00:22:17,920 --> 00:22:20,040 Speaker 4: think we need to also know how to manage our 547 00:22:20,080 --> 00:22:23,439 Speaker 4: own boundaries as well, because going, oh, but I've taken 548 00:22:23,440 --> 00:22:25,200 Speaker 4: on so much extra stuff and then you go to 549 00:22:25,240 --> 00:22:27,679 Speaker 4: your boss six months from now they're like, well, I 550 00:22:27,680 --> 00:22:29,640 Speaker 4: didn't ask you to do that. I don't know why 551 00:22:29,680 --> 00:22:32,840 Speaker 4: you're doing that, and then expecting additional remuneration, like when 552 00:22:32,880 --> 00:22:34,480 Speaker 4: that's not an expectation of the role. 553 00:22:34,760 --> 00:22:35,840 Speaker 2: So I don't know. 554 00:22:35,880 --> 00:22:37,760 Speaker 4: I think that there's a fine line to tread of 555 00:22:38,200 --> 00:22:42,080 Speaker 4: is this overtime that I'm choosing or is this overtime 556 00:22:42,200 --> 00:22:44,600 Speaker 4: that you know I actually have to do to continue 557 00:22:44,600 --> 00:22:46,879 Speaker 4: to be successful in my role. And I think that 558 00:22:46,920 --> 00:22:49,679 Speaker 4: those two are different things, because if it's overtime that 559 00:22:50,080 --> 00:22:52,680 Speaker 4: you're choosing because you're just super passionate about your job, 560 00:22:52,720 --> 00:22:54,760 Speaker 4: I think we need to be a little bit more 561 00:22:54,800 --> 00:22:57,080 Speaker 4: aware of our own work life balance, which is why, yes, 562 00:22:57,160 --> 00:22:59,080 Speaker 4: I jumped down your throat so often about it. Make 563 00:22:59,119 --> 00:23:01,159 Speaker 4: sure that you're looking up yourself, make sure that you 564 00:23:01,160 --> 00:23:03,240 Speaker 4: know you're walking after your work life balance. And I 565 00:23:03,280 --> 00:23:06,840 Speaker 4: think most people don't have those conversations because a boss 566 00:23:07,040 --> 00:23:09,680 Speaker 4: often just wants their employees to work as much as possible. 567 00:23:10,119 --> 00:23:10,879 Speaker 2: So I don't know. 568 00:23:10,960 --> 00:23:14,240 Speaker 4: I just from an employer's perspective, I'm like, well, let's 569 00:23:14,240 --> 00:23:16,800 Speaker 4: work out what this means, because I don't want you 570 00:23:16,880 --> 00:23:20,280 Speaker 4: doing unpaid over time because I have an appropriately allocated 571 00:23:20,320 --> 00:23:20,800 Speaker 4: work to you. 572 00:23:21,040 --> 00:23:22,000 Speaker 2: Like, that's just not fair. 573 00:23:22,400 --> 00:23:24,640 Speaker 5: Super interesting food for thought. Should we have a listen 574 00:23:24,680 --> 00:23:26,160 Speaker 5: to today's money dilemma? 575 00:23:26,320 --> 00:23:27,399 Speaker 2: Of course we should. 576 00:23:29,560 --> 00:23:31,919 Speaker 4: Hi, there have you got a money dilemma you just 577 00:23:31,960 --> 00:23:34,480 Speaker 4: can't solve the She's on the Money team is here 578 00:23:34,520 --> 00:23:37,760 Speaker 4: to help. Every week, we tackle your dilemmas, both big 579 00:23:37,800 --> 00:23:40,320 Speaker 4: and small, to answer your most burning money. 580 00:23:40,040 --> 00:23:41,440 Speaker 2: Career and life questions. 581 00:23:41,640 --> 00:23:44,120 Speaker 4: To get involved, simply head to our website and leave 582 00:23:44,200 --> 00:23:46,320 Speaker 4: us a short voice recording and you might just find 583 00:23:46,359 --> 00:23:49,080 Speaker 4: yourself on the show. Now, let's take a listen to 584 00:23:49,119 --> 00:23:52,360 Speaker 4: this week's money dilemma. 585 00:23:52,640 --> 00:23:55,400 Speaker 6: Hi, Victoria, it's Fatalana. Quick question. I've only got forty 586 00:23:55,440 --> 00:23:57,680 Speaker 6: five seconds. So basically, I've got an account for my 587 00:23:57,760 --> 00:23:59,960 Speaker 6: daughter and I opened it when she was seven months. 588 00:24:00,200 --> 00:24:03,600 Speaker 6: It's purely an account that my mum actually transfers ten 589 00:24:03,720 --> 00:24:08,399 Speaker 6: k into it each year for her tax purposes, what 590 00:24:08,440 --> 00:24:11,359 Speaker 6: the accountant taught her to do, and she's transferred that 591 00:24:11,520 --> 00:24:15,200 Speaker 6: for basically Miller's education. So merely can't touch that until 592 00:24:15,200 --> 00:24:19,200 Speaker 6: she's about twelve years old. We can, however, Look, it's 593 00:24:19,320 --> 00:24:22,560 Speaker 6: probably not best sitting in a bank account with you know, 594 00:24:22,640 --> 00:24:24,800 Speaker 6: inflation and everything. Is it best to put in a 595 00:24:24,880 --> 00:24:28,399 Speaker 6: term deposit or invested into something else so that money 596 00:24:28,440 --> 00:24:30,159 Speaker 6: can sort of build up a little bit until she 597 00:24:30,359 --> 00:24:31,680 Speaker 6: is at a right age. 598 00:24:32,119 --> 00:24:33,919 Speaker 4: Jess, I feel like this is a really interesting one 599 00:24:33,960 --> 00:24:36,240 Speaker 4: and I'm glad that people are talking about it because 600 00:24:36,640 --> 00:24:39,320 Speaker 4: when it comes to the inflation rate in Australia, I 601 00:24:39,320 --> 00:24:41,480 Speaker 4: don't mean to scare you, but four days ago it 602 00:24:41,560 --> 00:24:44,800 Speaker 4: was published that our current inflation rate is seven point 603 00:24:45,080 --> 00:24:49,520 Speaker 4: three percent. Consider me scared. Don't be very scared. But 604 00:24:49,920 --> 00:24:53,000 Speaker 4: our savings accounts aren't returning that. So if you're getting 605 00:24:53,040 --> 00:24:55,360 Speaker 4: like let's call it one percent, which is currently very 606 00:24:55,440 --> 00:24:57,959 Speaker 4: very good in this current economic environment, if you are 607 00:24:58,080 --> 00:25:01,560 Speaker 4: getting one percent on a savings account, every single year 608 00:25:01,680 --> 00:25:04,200 Speaker 4: that you have that money in that account, you are 609 00:25:04,200 --> 00:25:07,520 Speaker 4: going backwards by six point three percent because you're only 610 00:25:07,560 --> 00:25:08,439 Speaker 4: making one percent. 611 00:25:08,800 --> 00:25:09,520 Speaker 2: Does that make sense? 612 00:25:09,560 --> 00:25:11,880 Speaker 4: So I think it's really important to consider what you're 613 00:25:11,920 --> 00:25:14,800 Speaker 4: missing out on by not investing. And if we look 614 00:25:14,800 --> 00:25:17,399 Speaker 4: at the share market over the last thirty years, we 615 00:25:17,520 --> 00:25:20,679 Speaker 4: know that it has returned eleven percent, and that's just 616 00:25:20,720 --> 00:25:23,240 Speaker 4: the Australian share market, not the share market as a 617 00:25:23,280 --> 00:25:26,280 Speaker 4: broad figure. And over the long term, the share market, 618 00:25:26,440 --> 00:25:30,879 Speaker 4: you know, is a very reliable returner. However, not in 619 00:25:30,920 --> 00:25:32,920 Speaker 4: the short term, so you wouldn't invest for one or 620 00:25:32,960 --> 00:25:34,680 Speaker 4: two years. But if you've got a daughter and you've 621 00:25:34,720 --> 00:25:37,760 Speaker 4: got twelve years or something to go investing might be 622 00:25:37,880 --> 00:25:40,680 Speaker 4: something that you consider as an option for not only 623 00:25:40,720 --> 00:25:44,200 Speaker 4: creating wealth, but maintaining the wealth that you are putting aside. 624 00:25:44,280 --> 00:25:45,840 Speaker 4: Like if you're putting money aside and you want it 625 00:25:45,880 --> 00:25:48,760 Speaker 4: to go further, like, that's a great option. I would 626 00:25:48,800 --> 00:25:52,520 Speaker 4: be looking at something well diversified, something that is relatively 627 00:25:52,600 --> 00:25:54,520 Speaker 4: low touch, because it is for a child. You're not 628 00:25:54,520 --> 00:25:56,560 Speaker 4: going to go out and pick individual shares and you know, 629 00:25:56,680 --> 00:25:59,480 Speaker 4: make a punt. So talking to a financial advisor or 630 00:25:59,480 --> 00:26:01,320 Speaker 4: talking to some one on six park or even just 631 00:26:01,359 --> 00:26:04,159 Speaker 4: going on chazas and picking something that makes sense for 632 00:26:04,280 --> 00:26:07,240 Speaker 4: you might be a really good idea. And I get 633 00:26:07,280 --> 00:26:09,880 Speaker 4: so many questions about this topic in my DMS each 634 00:26:09,920 --> 00:26:12,280 Speaker 4: and every single week because people are like, oh, should 635 00:26:12,320 --> 00:26:14,520 Speaker 4: I put it in a term deposit? Well, I mean, 636 00:26:14,560 --> 00:26:16,680 Speaker 4: if you can find a term deposit that makes sense 637 00:26:16,680 --> 00:26:19,919 Speaker 4: for you and your financial circumstances, please also let me know, 638 00:26:20,000 --> 00:26:22,640 Speaker 4: because I haven't seen a term deposit recently that's returning 639 00:26:22,680 --> 00:26:25,320 Speaker 4: more than one percent. So it really really depends on 640 00:26:25,359 --> 00:26:28,240 Speaker 4: your financial circumstances and whether it's a good idea. But 641 00:26:28,760 --> 00:26:30,879 Speaker 4: weigh those up, do a little risk profile. If you 642 00:26:30,920 --> 00:26:33,920 Speaker 4: haven't listened to our podcast on ascertaining your risk profile. 643 00:26:34,000 --> 00:26:36,160 Speaker 4: Go and do that. If you haven't listened to our 644 00:26:36,240 --> 00:26:38,800 Speaker 4: share episodes. We did a mini series a little while 645 00:26:38,800 --> 00:26:41,399 Speaker 4: ago on how to invest and what an ETF is, 646 00:26:41,400 --> 00:26:43,000 Speaker 4: and what to manage fund is and what it means 647 00:26:43,040 --> 00:26:45,520 Speaker 4: to directly invest. Have a listened to all of those things. 648 00:26:45,640 --> 00:26:47,919 Speaker 4: Educate yourself and I feel like that might put you 649 00:26:48,000 --> 00:26:51,840 Speaker 4: on the right track to create success because investing for 650 00:26:51,880 --> 00:26:55,760 Speaker 4: a child is not much different to investing for retirement. 651 00:26:56,000 --> 00:26:59,120 Speaker 4: And when I say that, you don't need a fancy structure, 652 00:26:59,160 --> 00:27:00,760 Speaker 4: you don't need to go in set up a trust, 653 00:27:00,800 --> 00:27:02,240 Speaker 4: you don't need to do a lot of things. I 654 00:27:02,280 --> 00:27:04,920 Speaker 4: mean you can, but you don't need to do these things. 655 00:27:04,920 --> 00:27:07,119 Speaker 4: You actually just need to look at the long term 656 00:27:07,200 --> 00:27:11,960 Speaker 4: outcomes and a long term strategy because when investing for kids, thankfully, 657 00:27:12,000 --> 00:27:13,919 Speaker 4: we're not talking about one or two years. We're usually 658 00:27:13,920 --> 00:27:16,520 Speaker 4: talking about ten or twenty years, which is a really 659 00:27:16,600 --> 00:27:17,960 Speaker 4: good thing in the investment world. 660 00:27:18,080 --> 00:27:18,280 Speaker 1: Yeah. 661 00:27:18,280 --> 00:27:20,400 Speaker 5: And while you're diving into the shoes and the money archives, 662 00:27:20,400 --> 00:27:22,320 Speaker 5: go back to our episode on setting up investments for 663 00:27:22,400 --> 00:27:23,400 Speaker 5: kids espec good one. 664 00:27:23,400 --> 00:27:25,640 Speaker 2: Maybe I should have mentioned that you're here. 665 00:27:25,800 --> 00:27:27,240 Speaker 5: It'll give you a little bit more info and a 666 00:27:27,280 --> 00:27:29,240 Speaker 5: little bit more insight because we cover it in depth. 667 00:27:29,280 --> 00:27:32,199 Speaker 5: It's a full standalone episode all about it. But I 668 00:27:32,200 --> 00:27:33,399 Speaker 5: feel like that's about it for today. 669 00:27:33,440 --> 00:27:35,479 Speaker 2: That is all we've got time for today. So we'll 670 00:27:35,480 --> 00:27:37,480 Speaker 2: see you next week, Angels. Have a good weekend. 671 00:27:37,720 --> 00:27:41,040 Speaker 5: Bye. 672 00:27:45,200 --> 00:27:47,720 Speaker 4: The advice shared on She's on the Money is general 673 00:27:47,800 --> 00:27:51,639 Speaker 4: in nature and does not consider your individual circumstances. She's 674 00:27:51,680 --> 00:27:55,159 Speaker 4: on the Money exists purely for educational purposes and should 675 00:27:55,160 --> 00:27:58,360 Speaker 4: not be relied upon to make an investment or financial decision. 676 00:27:58,720 --> 00:28:01,160 Speaker 4: If you do choose to buy a financial product, read 677 00:28:01,200 --> 00:28:05,359 Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards 678 00:28:05,359 --> 00:28:08,639 Speaker 4: your needs. Victoria Divine and She's on the Money are 679 00:28:08,720 --> 00:28:12,320 Speaker 4: authorized representatives of Money sherper P T y lt D 680 00:28:12,560 --> 00:28:15,280 Speaker 4: A b N three two one six four nine two 681 00:28:15,400 --> 00:28:19,040 Speaker 4: seven seven zero eight AFS L four five one two 682 00:28:19,080 --> 00:28:21,800 Speaker 4: eight nine