Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it. She's on the Money. She's on
Speaker 2: the Money. Hello, and welcome On the Money, the podcast
Speaker 2: Millennials who want Financial freedom. My friends, today is Friday,
Speaker 2: which means we are back and it is time to
Speaker 2: get our little team together to celebrate you our incredible
Speaker 2: She's on the Money community today, Miss Bech Sayeed is
Speaker 2: going to be sharing her broke Broke tips. Mister Grici,
Speaker 2: She's back with her money wins and confessions from the community.
Speaker 2: We're going to be helping to answer a juicy money dilemma,
Speaker 2: which this week is all about what you should be
Speaker 2: doing with an inheritance, and we're going to be unpacking
Speaker 2: something that you slid into our dams about which this
Speaker 2: week we're chatting about sharing rent and bills with a partner,
Speaker 2: which I think can be a little bit of a
Speaker 2: fickle topic for some. But as you guys know, I
Speaker 2: have been off for a little while. I've been just
Speaker 2: having a baby. Which turns out he's decided to join
Speaker 2: the show today his carrier. He has been perfectly asleep
Speaker 2: up until right now, and he's decided, ah, here that
Speaker 2: there's a mum talking, and there's a Jess, and there's
Speaker 2: a Beck, and I want to be involved. So you
Speaker 2: any squeaks or little moans, it's from a sleeping baby
Speaker 2: called hearty because I had a boy in my friends
Speaker 2: it's so cute. Or maybe me and me or Jess
Speaker 2: my fall a sleep at some point. Yeah, but that's
Speaker 2: so hard to like if I start singing or swaying,
Speaker 2: please just cut that out of the episode. But how
Speaker 2: have you been?
Speaker 3: Oh my god, everyone's back together, excited and allowed to
Speaker 3: be back.
Speaker 2: Our guests weren't so exciting that you wanted to kick
Speaker 2: me off the show, and like, just do guests forever,
Speaker 2: not at all like, well, we checked, they were actually busy. Yeah, yeah,
Speaker 2: we did check.
Speaker 4: We did offer some which we tried some contracts and stuff,
Speaker 4: but unfortunately nothing worked out.
Speaker 3: Now, oh my.
Speaker 2: Gosh, I'm so sorry that that happened to you, guys.
Speaker 2: I will let you know that I am going to
Speaker 2: go on a holiday soon and so I'll give you
Speaker 2: a few extra guests for that period of time. But
Speaker 2: after that, I'm back for good. Okay, So apologies in
Speaker 2: advance for the chop shop of she's on the money
Speaker 2: at the moment, but I wanted to come back. I
Speaker 2: didn't want to, like keep doing the guest episode thing.
Speaker 2: I did one a few weeks back with you guys,
Speaker 2: and then I'll go on holiday and you will watch
Speaker 2: via my Instagram stories and then I'll be back.
Speaker 4: Okay, okay, that's so fine. I'm happy that you're back.
Speaker 4: I really missed out all about dynamics together, like this
Speaker 4: is how it's meant to be.
Speaker 2: We're a good little team. Uhye. I really like this.
Speaker 2: I like us, And I mean that's biased because I
Speaker 2: am us. I feel like other people could validate that though,
Speaker 2: But let's get into the episode. I am very excited.
Speaker 2: I feel like I've missed out on a lot. Beck,
Speaker 2: if you've got some broke tips for us this week?
Speaker 2: If so, what are they? Can you share with the team?
Speaker 2: Of course I can. Okay, So these are a little
Speaker 2: bit unhinged, and I just want to say I expected
Speaker 2: to be completely hinged by the time I returned.
Speaker 4: True, I was that was my goal. I was like,
Speaker 4: when Victoria gets back, I'm going to impress her.
Speaker 2: With another broke tip. Exactly exactly. I do want to say.
Speaker 4: When I started the broke tips thing, I was like,
Speaker 4: I'll share my own, which I quickly realized We're a
Speaker 4: little bit too unhinged. So I'm going to go back
Speaker 4: to that. Okay, But anyway, Love, you'll see what I mean.
Speaker 4: So firstly, we have two from the community. The first
Speaker 4: one comes from Chesney. I hope I'm saying that right,
Speaker 4: Chesney says, And this is again something I have mentioned before,
Speaker 4: but we have a new addition to what I mentioned.
Speaker 4: So get a library card. You can get audiobooks for free.
Speaker 4: We have mentioned Libby, but this is a new one
Speaker 4: I had not mentioned before. I did not know about
Speaker 4: borrow box. Has anyone heard of that before?
Speaker 2: No, you're right, this is new Becky is good at
Speaker 2: trying to recycle, but this is not recycled. When this
Speaker 2: is new and fresh, it is reduced for use.
Speaker 4: Recycle, they want to say, So borrowbox is I believe
Speaker 4: it's essentially the same thing. You can also get fifteen
Speaker 4: hours of audiobooks, of course for free with Spotify Premium.
Speaker 4: You can also have more than one library card, so
Speaker 4: if you join multiple times, if they don't have what
Speaker 4: you want, you can ask like more libraries and more.
Speaker 2: You could borrow cheese on the money from multiple places.
Speaker 2: True true, get it back to back to back. You
Speaker 2: could just read it over and over and over again
Speaker 2: till it seems exactly. I would like people to consume
Speaker 2: my books.
Speaker 3: Three out, one more out very soon if you haven't
Speaker 3: pre ordered it.
Speaker 2: It's out. Money Diaries is coming out at the start
Speaker 2: of May, which is very very exciting, very exciting.
Speaker 4: So that's a good one borrow Box, so have a
Speaker 4: little googs. The next one comes from Bridget who says
Speaker 4: that some airlines let you purchase your checked baggage using
Speaker 4: your airline miles instead of cash.
Speaker 2: So I'm booking a flight on a budget.
Speaker 4: You can book the basic economy seat, which is always cheaper,
Speaker 4: but it doesn't include the free checked bag, So use
Speaker 4: your miles to save some money.
Speaker 2: I didn't realize that was a thing's smart. I didn't
Speaker 2: realize to do that totally. Would have been nice for
Speaker 2: you to give me that tip before I booked my.
Speaker 4: Flights, literally me in America last year, paying like one
Speaker 4: hundred and fifty dollars you don't wait baggage. I was, oh,
Speaker 4: my goodness, because I'd stucked up on pumpkins.
Speaker 2: It was, it's so funny, what we're not joking? She
Speaker 2: went to where was it Target, Target in the US,
Speaker 2: and she bought a whole heap of these plastic, hollow
Speaker 2: pumpkins because Australia doesn't have that much Halloween decorations. And
Speaker 2: you do love a theme, just doesn't love a thing.
Speaker 2: Jess is the theme, like she is the moment. She
Speaker 2: needed her pumpkins. We were all very supportive of it,
Speaker 2: but we all laughed a lot when the pumpkins cost
Speaker 2: her a lot of money to get home. And that
Speaker 2: wasn't just one hundred and fifty dollars back, it was
Speaker 2: one hundred and fifty usd Oh, that's like three hundred
Speaker 2: dollars or something yeah, it was. Don't don't tell it. Sorry,
Speaker 2: we decided not to work that out. Next time, I'll
Speaker 2: use my airline for it.
Speaker 4: Yes, good idea, or maybe no pumpkins, but whatever.
Speaker 2: Ridiculous we need to bring the pumpkins.
Speaker 4: That's so true. Okay, so my tip is very on topic. Actually,
Speaker 4: so this might help you in the future. And this
Speaker 4: is something I have always done, but I've never actually
Speaker 4: acknowledged it until I saw this airline baggage broke tip
Speaker 4: come through. So what I do every single time I travel.
Speaker 4: I am scared of aeroplanes, so it's not often, but
Speaker 4: when I do, I will usually just take one bag
Speaker 4: with me and the way I do that like, and
Speaker 4: it usually has no clothing in it because what I
Speaker 4: do is I wear several pairs of underwear, several pairs
Speaker 4: of stocks. I promise you, several pairs of pants shirts
Speaker 4: in that way. That way, I don't have to put
Speaker 4: any clothes in my bag.
Speaker 2: Why beck Best, Yes, Hippy, surely you've got enough space
Speaker 2: for the undies. I probably do, Like, surely there's enough, Jesse,
Speaker 2: are right. It's so I'm literally crying. I'm so sorry.
Speaker 2: Several pairs of shoes. No, you don't you don't wear
Speaker 2: multiple don't take it? Actually do And this is because
Speaker 2: I'm like so nuiced to it. Why, well, like the
Speaker 2: undies are like your undies that they don't fit down
Speaker 2: the side in the bag that your carriage.
Speaker 3: You're crying, guys, but you said the thing that you said,
Speaker 3: the bag is empty.
Speaker 2: Hold us, what's in the bag? Your stuff in the
Speaker 2: bag's empty? But what are you putting in the bag? So, buddy,
Speaker 2: so all your other things?
Speaker 4: So like let's say, like when I do this, that
Speaker 4: means I don't have to have any checked baggage.
Speaker 2: You know what, I don't have to go and check
Speaker 2: any bag. But you know you can have carry on, right,
Speaker 2: you can carry on one baggage all all the.
Speaker 4: Stuff, everything I've ever needed is in the carry on
Speaker 4: and all my clothes are of my body.
Speaker 2: Yeah, but like, is there not any room left in
Speaker 2: the carry on? Like both Jess and I chronic overpackage.
Speaker 2: Like we know we are the worst, okay, but but
Speaker 2: if we are going to Sydney for the weekend, you
Speaker 2: best believe both of us can pack just to carry
Speaker 2: on and get this back our clothes in the carry on.
Speaker 3: How long are you talking about? Like how long of
Speaker 3: a trip are you doing this?
Speaker 2: Like' just headed off to the US, and She's got.
Speaker 5: Usually like I'll do this if I'm like, I don't
Speaker 5: usually go overseas, but if I do, all do this,
Speaker 5: you know, and then I'll just kind of like sort
Speaker 5: it out when I get there.
Speaker 2: But then do you have to then wash all pairs
Speaker 2: of nickers or do you detail clean because they've technically
Speaker 2: had a barrier of nickers between them. Yeah, well anything
Speaker 2: after the second pair, Yeah, I agreed, And then I
Speaker 2: am so concerned about your mental health right now.
Speaker 4: But also, this is the other thing too, is that
Speaker 4: my partner, my girlfriend.
Speaker 2: I remember when this was like full secret. I know
Speaker 2: now it's not a secret that all spam each other
Speaker 2: on Instagram, and I'm like, oh yeah, real subtle guys.
Speaker 4: It's actually really like low Keino would really thousand people.
Speaker 4: But yeah, so she often like goes and she will
Speaker 4: like way back ahead of time.
Speaker 2: But sometimes you just get stuck and you go.
Speaker 4: When you get on the plane, you don't realize but
Speaker 4: you're actually like a kilo or over and that might
Speaker 4: be like one hundred bucks.
Speaker 2: I don't know.
Speaker 4: I don't know how much it costs because it's never
Speaker 4: happened to me because I'm always wearing.
Speaker 2: But like what if what if yes go where you
Speaker 2: just underpack? Like what if you if you everything in
Speaker 2: your suitcase and then if you got there and it
Speaker 2: was over, then I would be like, oh, you can
Speaker 2: put your jacket on or you can put an extra
Speaker 2: top on it. That point, I think we've all done
Speaker 2: the airport shuffle, Like for sure when the bags and
Speaker 2: that'll be one hundred dollars, you go, no, sir, no, sir,
Speaker 2: I will make this way and then you put every
Speaker 2: But that's why Jack, I'm just too awkward. I'd be like, oh, yes,
Speaker 2: I've paid for that. So that's why I have to
Speaker 2: do it ahead of time. I just broke tips. And
Speaker 2: if anyone can tell our producer doesn't okay them before
Speaker 2: they get to the show.
Speaker 4: We literally just stop doing that. That's why I'm like,
Speaker 4: I'm going to go.
Speaker 2: I'm going I like it. I like it. It's a
Speaker 2: good ship. It's one that I probably won't take my shot,
Speaker 2: but someone out there might be really interested in that.
Speaker 2: Speaking broke tips though, our friend Indy Simmons has she
Speaker 2: started a new podcast, Yes and You went on it recently,
Speaker 2: didn't you. I sure did. Beck what's it called cheap skates?
Speaker 2: And what do you talk about on cheap skates?
Speaker 4: So she will kind of like get a true story.
Speaker 4: She's always telling true stories about a very like, you know,
Speaker 4: a cheap skate of any kind, and they usually quite
Speaker 4: outrageous stories, more than just wearing oil clothes on the plane.
Speaker 2: And yet like they're way better, yeah, a way better.
Speaker 2: This is this is my way of making up for
Speaker 2: our terrible broke tips is to give you a better podcast.
Speaker 4: Exactly exactly, and so you'll go on only she does
Speaker 4: has two episodes out now, but she has many more
Speaker 4: in the bank, so just keep an iron ear out.
Speaker 2: She's had Marley from Big Brother.
Speaker 4: I'm not sure if anyone remembers, but I certainly do
Speaker 4: because he's very good looking. And then we have myself,
Speaker 4: I have a girlfriend. Step back, I know, Oh my goodness,
Speaker 4: what I'm talking about? Cut that out please, And then
Speaker 4: we have Alex Water's a comedian and etcetera, etcetera.
Speaker 2: So she's a very well connected lady, and as a
Speaker 2: friend of the show, I feel like it only makes
Speaker 2: sense to promo her pod because it's about Cheapskates to
Speaker 2: We'll put a link to her show in our show
Speaker 2: notes so you can go and check it out. But
Speaker 2: it's very, very cool, and I'm very excited about it
Speaker 2: because they're the pervy stories that everyone wants to hear,
Speaker 2: especially when it's about money. Yeah, there's a really neat story.
Speaker 2: But let's segue back to the community. Jess Ricci, what
Speaker 2: have you got when it comes to money wins and confessions?
Speaker 6: All right?
Speaker 2: My first money is going to be new to me,
Speaker 2: oh Man Mattley. For all I did was read these
Speaker 2: threads your favorite you. I had so much photo. I
Speaker 2: was like, what's going on? Please this little like the
Speaker 2: little orphan outside the window.
Speaker 3: Some more. My first money win this week is from Rhiannon,
Speaker 3: who said money win.
Speaker 2: Coal's bag. She wrapping paper.
Speaker 3: She forgot to buy wrapping paper, so she cut up
Speaker 3: a Coals bag, flipped it inside out, and wrapped the gift.
Speaker 3: She used a bow off the sheet that she got
Speaker 3: on clearance after Easter for fifty cents. That's really smart,
Speaker 3: really smart, and it looks she put in a photo.
Speaker 3: It looks just like the fancy butcher's paper wrapping.
Speaker 2: Oh, she's a genius. It looks beautiful. Do you know what?
Speaker 2: I would one love to get that gift looks really cute,
Speaker 2: but I'd keep be like, oh, she's a smart cookie.
Speaker 2: Once I opened it and realized it was a coals bag,
Speaker 2: I'd be like this old genius because they're hard to
Speaker 2: reuse the paper bags, Like if you're not like and
Speaker 2: I buy the paper bags because I know they're better
Speaker 2: for the environment than those like quote reusable plastic ones,
Speaker 2: Like they're not really that reusable because no one actually
Speaker 2: packs them up and takes them back to the supermarket. Right,
Speaker 2: Such a good way to reuse the bag. I love that.
Speaker 3: Next, I've got a money win from Amy, who said
Speaker 3: my partner signed up to do some product reviews and
Speaker 3: they sent us four tubes of toothpaste. She said they're
Speaker 3: covered up, but it's easy to tell what brand they are,
Speaker 3: so I think it's like a think it's like a
Speaker 3: blind test kind of. She said, fifty bucks a toothpaste
Speaker 3: for free, and then once we use them and review them,
Speaker 3: we get a fifty do gift card. Money.
Speaker 2: That's so good? Is that? How long would it take
Speaker 2: you to get through four tubes of toothpaste?
Speaker 4: Oh?
Speaker 2: If two people are using it, not that I don't know,
Speaker 2: like your standard tube. Yeah, Like I couldn't even tell
Speaker 2: you how quickly I go through toothpaste.
Speaker 3: It's one of those things you feel like you have
Speaker 3: heaps and then all of a sudden, like you have one.
Speaker 3: That's true, I'm queezing tory, like cunning the tube.
Speaker 2: Yeah, there's never in between. No, they really bought a
Speaker 2: pump toothpaste, and I thought that was genius because I
Speaker 2: was like, cool, like that's really easy. Yeah, but we're
Speaker 2: not giving them credit. They mark it everywhere. They do
Speaker 2: not need us either. It's the weird flavors for me. No, No,
Speaker 2: I got the smooth mint, don't worry. I got the
Speaker 2: like I like bacon or something. No, I just I
Speaker 2: don't know how clean my teeth would feel after using
Speaker 2: a flavor toothpaste. I agree, however, I did this is
Speaker 2: a bit rogue. I did buy the Colgate toothpaste the
Speaker 2: other day because it's peach flavored. But it's like peachy mint,
Speaker 2: and the second I tried it, I was like, Jess
Speaker 2: is gonna love this? That sounds delicious. Yeah, so I'll
Speaker 2: get you some toothpaste. But the pump, you just don't
Speaker 2: know when it's gonna end because with the tube you
Speaker 2: can kind of see it and track it. I just
Speaker 2: ran out of toothpaste and I was like, wait, what,
Speaker 2: I don't like that now there's none stressful stressful, very stressful.
Speaker 2: Carry on, Jess, Sorry, you're fine.
Speaker 3: Next day for money went from Lisa, who said, after
Speaker 3: receiving an almost forty percent increase on our Home and
Speaker 3: Contents insurance renewal, I called around, I got some quotes,
Speaker 3: and I was able to almost have that renewal, which
Speaker 3: means this year we're actually paying less than last year money.
Speaker 2: Weird, and also a really good reminder that if you've
Speaker 2: been looking at your budget and you're like, oh, there's
Speaker 2: nothing I can really cut out, have you actually reviewed
Speaker 2: the expenses you have? So if you've got some you know,
Speaker 2: insurance that you're paying for, is that the best deal?
Speaker 2: If you're paying more than thirty bucks a month for
Speaker 2: your SIM plan on your phone, that's too much in
Speaker 2: my opinion. So like review, review, review, and always try
Speaker 2: and cut down pre existing expenses. We're not saying get
Speaker 2: rid of the expense, just so if you can get
Speaker 2: a better deal, yeah.
Speaker 3: And don't Yeah, we have that. Get a better deal
Speaker 3: script on our website. So good deal you head to
Speaker 3: the resources page. It right free it is. Next, I've
Speaker 3: got money win from Lisa, who said that's a second Lisa,
Speaker 3: but Lisa, This Lisa is spelled with two eas different Lisa.
Speaker 3: Lisa said, I pressure washed the house last weekend and
Speaker 3: I got water into an external light fitting. No, it
Speaker 3: blew the lights in our entire house and the solar power.
Speaker 3: I thought it was going to be an incredibly expensive fix,
Speaker 3: but turns out it was just a forty dollar fuse
Speaker 3: and her partner fit it himself.
Speaker 2: Oh money win.
Speaker 3: Relief was almost small money loss, but I always still
Speaker 3: call out a money win.
Speaker 2: That's a money win, but also like, let's just be
Speaker 2: careful with high pressure washing and electricity completely that gives
Speaker 2: me so much anxiety. Please be safe people.
Speaker 3: And then lastly, I have two money wins from buy
Speaker 3: nothing groups which are like my favorite thing ever. I
Speaker 3: love it buy nothing group. Firstly, Tinachet said, I received
Speaker 3: a salon sized waxing pot and leg rollert waxes and strips,
Speaker 3: all full of wax thanks to the buy nothing group
Speaker 3: on Facebook. I've been waxing my legs Brazilian and under
Speaker 3: arms and DIY Brazilian.
Speaker 2: Yeah, or I could never bold. The yoga involved crazy.
Speaker 3: She said it was costing her one hundred and thirty
Speaker 3: eight bucks every six weeks. Now she can wax herself
Speaker 3: all the time and it's free money.
Speaker 2: Weeds so good, I believe that. I'm very impressed.
Speaker 3: And then Marie said her as six sneakers died, she
Speaker 3: couldn't afford new ones, but she's snagged a pair on
Speaker 3: her local buy nothing group, practically brand new and in
Speaker 3: her size. And the lady threw in some lines for free.
Speaker 2: Oh mallween, I love this.
Speaker 3: Join your local buy nothing group, get some stuff if
Speaker 3: you can give some stuff.
Speaker 2: It's so good. I love that suggestion, very very good.
Speaker 2: I'm still thinking about how I would give myself a Brazilian.
Speaker 2: I don't think I could pull.
Speaker 3: I think I would put the wax on, and I'd
Speaker 3: just be like, no, do it there forever.
Speaker 2: I can't imagine. I can literally imagine Jess calling me
Speaker 2: and being like, viye, I have a dilemma. Please please
Speaker 2: come to my house and fix it. Anyway, Let's go
Speaker 2: to a really quick break before this goes somewhere it
Speaker 2: shouldn't on the flip side. We're going to be talking
Speaker 2: about what you can do with an inheritance, and we're
Speaker 2: unpacking something you slid into our DMS about. This week,
Speaker 2: we're chatting about sharing rent and bills with a partner.
Speaker 2: So don't go anywhere. Welcome back, everybody. Let's take a
Speaker 2: listen to this week's money dilemma.
Speaker 4: Hi.
Speaker 2: There, have you got a money dilemma you just can't solve?
Speaker 2: The She's on the Money team is here to help.
Speaker 2: Every week we tackle your dilemmas, both big and small,
Speaker 2: to answer your most burning money, career and life questions.
Speaker 2: To get involved, simply head to our website and leave
Speaker 2: us a short voice recording and you might just find
Speaker 2: yourself on the show. Now, let's take a listen to
Speaker 2: this week's money dilemma.
Speaker 6: Hi guys, I just wanted to send in my money
Speaker 6: to LATA. I am twenty two years old and I'm
Speaker 6: a registered nurse on the Gold Coast. I finished UNI
Speaker 6: last year, so I'm a graduate nurse. Now. I have
Speaker 6: always been living paycheck to paycheck, like ever since I
Speaker 6: was a teenager. Up until now, I've always had the
Speaker 6: same amount of money in my bank account, which is
Speaker 6: just wild. Considering I earn so much more now, but
Speaker 6: also I do pay rent and bills and all those
Speaker 6: things now too. But I just got to positive thirteen
Speaker 6: thousand dollars as a form of inheritance, and I just
Speaker 6: wanted some advice and tips to try and use this
Speaker 6: money to try and get me ahead and make some
Speaker 6: smart decisions with it. So thanks so much, guys, look
Speaker 6: forward to hearing from you.
Speaker 2: I feel like this is such a good question, and
Speaker 2: given over the next ten years, we are going to
Speaker 2: see the biggest transfer of intergenerational wealth this Unfortunately, it
Speaker 2: might be a situation that a lot of us find
Speaker 2: ourselves in. But I think the first thing I would
Speaker 2: say when it comes to inheritance is you do not
Speaker 2: need to make a decision right now, Like that money
Speaker 2: could sit there for a year or more, literally earning
Speaker 2: zero while you work out what you want to do.
Speaker 2: I think so many times, especially when you have an inheritance,
Speaker 2: you've got Uncle Bob over here giving you advice and
Speaker 2: Arnie Jill saying, oh, you should be getting into the
Speaker 2: property market, and someone else is suggesting crypto like, just
Speaker 2: sit on it for a while and work out what
Speaker 2: your values are and what you could be doing with it.
Speaker 2: Thirteen thousand dollars is a lot of money. In fact,
Speaker 2: if you invested it in the Australian share market, thirteen
Speaker 2: grand invested today in thirty years is going to be
Speaker 2: about two hundred and thirty thousand dollars in thirty years.
Speaker 2: So that's a lot of money to be making. But
Speaker 2: it also could turn into more in property, or it
Speaker 2: could turn into more in crypto or more indifferent shares.
Speaker 2: It's completely up to you. I mean, you might want
Speaker 2: to use that inheritance money to go on a holiday.
Speaker 2: You might go, you know what, this is the best
Speaker 2: use of these funds, and that's completely up to you.
Speaker 2: There's actually no right or wrong I think when we
Speaker 2: get an inheritance, though there can actually and it didn't
Speaker 2: sound like this in your tone of voice, but often
Speaker 2: there's a certain level of guilt because someone has passed
Speaker 2: away for an inheritance to have occurred, and that's not
Speaker 2: a nice situation. And sometimes when you get an inheritance,
Speaker 2: maybe you we're really close with the person, so you
Speaker 2: want to make sure that you're doing the right thing
Speaker 2: with the money and not disappointing them, or on the
Speaker 2: flip side, you might not have been close, and you go,
Speaker 2: oh my gosh, this person that should have been close
Speaker 2: to me and wasn't. We had a bit of a
Speaker 2: disjointed relationship has passed away and I've got money and
Speaker 2: now I feel guilty for even having it in the
Speaker 2: first place because we didn't have a good relationship. So
Speaker 2: money in these circumstances is really fickle, and I think
Speaker 2: it's important for you to take the time to work
Speaker 2: out what you want to do with it and work
Speaker 2: through that guilt, because you shouldn't feel guilty at the
Speaker 2: end of the day. That money is for you and
Speaker 2: it is to put you in the best possible position.
Speaker 2: So what would you like to do with it. There's
Speaker 2: no you should invest it or you should do this.
Speaker 2: The second someone tries to give you advice, disregard it,
Speaker 2: or take it on with a grain of salt and
Speaker 2: put it to the side and wait because there's always, always,
Speaker 2: always going to be another opportunity, is going to be
Speaker 2: something else to invest in. You don't need to jump
Speaker 2: on the next investing trend, because I promise if it
Speaker 2: is a trend right now, it's not going to put
Speaker 2: you in the best possible position. We need to be
Speaker 2: thinking long term. But also I want to give you
Speaker 2: permission to do whatever you want with that money, because
Speaker 2: it's up to you. What I want you to do, though,
Speaker 2: is make an educated decision. Have you thought about investing?
Speaker 2: Have you thought about property? Have you thought about date reduction?
Speaker 2: Have you thought about, you know, an asset. Maybe you
Speaker 2: want to buy a car. Maybe you want to invest
Speaker 2: it in something that is more sentimental. It might be
Speaker 2: a piece of art, it might be literally anything. But
Speaker 2: there is no right and no wrong when it comes
Speaker 2: to an inheritance. But I guess that's a good question, Jess,
Speaker 2: if you came into thirteen grand tomorrow, what would you
Speaker 2: do with it? I feel like I'd be boring and
Speaker 2: I would put it in my house deposit. Would you?
Speaker 2: I mean I thought she would have said, I'm gonna
Speaker 2: go buy a Snell double flap.
Speaker 3: Yeah, that it's a very expensive, very beautiful bag, like
Speaker 3: very okay, it would take up its almost all of
Speaker 3: It's like it's everyone has that. Oh you don't because
Speaker 3: you're not materialistic. I'm feeling like a little materialistic shit.
Speaker 2: You don't have to worry this side of the table.
Speaker 2: Quite materialistic, willing to work for it absolutely, but also
Speaker 2: handbags are important to us. Yeah, sorry, not sorry.
Speaker 3: It's like my dream handbag. But like they're literally they've
Speaker 3: it's one of those things. They've gone up and up
Speaker 3: and up in price.
Speaker 2: They're literally like ten thousand. To be honest, they're a
Speaker 2: very good investment. It's like investing in Burkins. In Burkins,
Speaker 2: which are by the brand MS I think have a
Speaker 2: forty seven percent return. If you don't use the bag,
Speaker 2: I'd probably buy my second hand. Like if that like,
Speaker 2: you wouldn't be a little fruit.
Speaker 4: If you're spending that much, you may as well get
Speaker 4: it full price, is what I'm thinking.
Speaker 1: You know what I mean.
Speaker 2: We'll see if you buy a Burkins second hand, it's
Speaker 2: much more expensive because they're so hard to get in store.
Speaker 2: In store, you could be spending like fifteen thousand dollars
Speaker 2: on a Burken, but second hand twenty five thousand plus.
Speaker 2: Isn't that wild to think that a handbag is worth
Speaker 2: that much? Yeah, that's wild. What would you do with
Speaker 2: thirteen grand? And if you had thirteen grand in your
Speaker 2: hot little hands tomorrow, you know.
Speaker 4: It's just funny because when I was made redundant, as
Speaker 4: everyone knows, because I went shut up about it.
Speaker 2: I was literally on about it. It's not like it's
Speaker 2: like your livelihood or that's so true. It's not a deal.
Speaker 4: I was not even like it's impacting your income was
Speaker 4: given exactly thirteen thousand. Yeah, I was so, But that's
Speaker 4: a different story. It is different. But I'm thinking, like,
Speaker 4: if I still had a regular income with that thirteen thousand,
Speaker 4: I probably would do things that I can't. I probably
Speaker 4: could do now, but I just like, I'm really bad
Speaker 4: with my money still, but I would like get my
Speaker 4: car fixed, get a new phone my phone's broken, Like,
Speaker 4: do all the things I need to do just to
Speaker 4: feel like my day to day isn't super Yeah, exactly,
Speaker 4: Like I can literally hear my clutch slipping as I
Speaker 4: drive to work every morning.
Speaker 2: I'm like, I would do those kind of things. It
Speaker 2: must be nice to be able to drive manual. Can't
Speaker 2: do that. I can teach you. If you like olding
Speaker 2: your budget, you teach me to drive manual perfect. It's
Speaker 2: actually a deal. Do we trust Bex driving?
Speaker 4: Yeah?
Speaker 2: Don't trust her?
Speaker 4: Flight tips trusted, thank you, But no, I think like
Speaker 4: after all those things are done, I would then maybe
Speaker 4: just sit on it until I probably wouldn't invest it yet,
Speaker 4: I'd be like, I'll sit on it, put it in
Speaker 4: an I'd start an emergency fund.
Speaker 2: Finally, that would probably be that Yeah, you know what
Speaker 2: I mean?
Speaker 4: Yeah, I like personally, so get all those things that
Speaker 4: take care of the rest will go into emergency funds.
Speaker 2: So I feel secure. But see what that shows us
Speaker 2: that we're all entirely different and therefore can't answer that
Speaker 2: question directly for you. But what we can say is
Speaker 2: we want you to be educated to make the decision
Speaker 2: that is right for you. We've done episodes on inheritance before.
Speaker 2: We've done episodes on coming into a sum of money
Speaker 2: and how to make decisions around that. But there's no
Speaker 2: one size fits all approached, and I think that's kind
Speaker 2: of the outcome here. But also the driver behind she's
Speaker 2: on the money, not lump sums of income. I wish
Speaker 2: we could that could be the driver for everybody, but
Speaker 2: more giving you the education you deserve to make the
Speaker 2: right decision in situations like this.
Speaker 3: Yeah, and if you want to find that episode, you
Speaker 3: can search up on spotfy O Apple. Its how to
Speaker 3: Treat Inheritance with the Respective Deserves And it's a really
Speaker 3: good episode.
Speaker 2: All right, Let's move on because this week you guys
Speaker 2: slid into our DMS about something a little bit I
Speaker 2: would say spicy, because it can be a thickle topic
Speaker 2: to discuss. This week, we're talking about sharing rent and
Speaker 2: bills with a partner. So let me read out the
Speaker 2: DM re received. Hi, she's on the money. I just
Speaker 2: moved in with my new partner. We started our relationship
Speaker 2: quite recently and soon moved in together. I did that too,
Speaker 2: so like no judgment based. I live in a two
Speaker 2: bedroom apartment and he moved in with just his personal stuff.
Speaker 2: He didn't ring anything for the house, as we already
Speaker 2: have a fully furnished place. We split rent fifty to fifty.
Speaker 2: I'm starting to feel like this might be quite unfair,
Speaker 2: as I've contributed to so much cool stuff for the
Speaker 2: apartment and he gets to enjoy all of that for
Speaker 2: the same price that I'm paying. We also share grocery
Speaker 2: bills fifty to fifty, but he eats so much. He
Speaker 2: buys a lot of expensive things that I don't consume,
Speaker 2: such as the best branded peanut butter, so much meat.
Speaker 2: He goes to them a lot, and I feel like
Speaker 2: sharing the bills equally will also be unfair for me
Speaker 2: in the long run. However, I'm afraid I'm gonna sound
Speaker 2: stingy about bringing up the rent and grocery bills situation.
Speaker 2: I'm on a seventy thousand dollars salary and my budget
Speaker 2: is quite tight at the moment. Guys, what do we
Speaker 2: think about this situation?
Speaker 4: I think, furniture wise, it's still all your stuff. It's
Speaker 4: kind of like if you move into a sharehouse and
Speaker 4: like it's already furnished and you still get to enjoy
Speaker 4: all the communal spaces.
Speaker 2: Yeah, but they take it if they leave.
Speaker 4: And they take it if they leave exactly, and if
Speaker 4: you if it gets damaged in the meantime, like maybe
Speaker 4: you spilt some red wine, like you pay for that.
Speaker 4: Like so if anything is damaged, like obviously he will
Speaker 4: kind of bear the financial burden.
Speaker 2: Of that, but like, that's still all your stuff. I
Speaker 2: would say not to worry about that. Yeah, I personally
Speaker 2: wouldn't worry about that. I mean, I feel like maybe
Speaker 2: this is an extension of you already feeling like there's
Speaker 2: some inequity in the relationship, and so maybe that's a projection.
Speaker 2: But also being like, oh, I've got cool stuff, in
Speaker 2: the apartment, okay, Like you're gonna get rid of it
Speaker 2: so that someone else can't enjoy it, At which point
Speaker 2: I'm a bit confused as to why you wouldn't want
Speaker 2: your partner to enjoy your stuff too, Like, I don't know,
Speaker 2: it's a bit.
Speaker 3: It's like he could have bought four but you already
Speaker 3: had foks, Like why would he bring more forwards?
Speaker 2: And why would he then pay because you already had forks? Yeah, Like,
Speaker 2: don't get me wrong. It could be bigger things like
Speaker 2: she's got like some fancy gaming system or something. I
Speaker 2: don't know. I feel like your stuff was already in
Speaker 2: the house. You could negotiate and be like, oh, I
Speaker 2: actually really want a new couch, We're going to go
Speaker 2: fifty to fifty or I'd like that to be your contribution,
Speaker 2: because there might be some things that you want to
Speaker 2: upgrade or change. But like, if it's not broke, why
Speaker 2: fix it.
Speaker 3: It's not something that you would pay more rent for.
Speaker 3: Like it doesn't really make sense totally.
Speaker 2: But now the food situational food and the rent switch, Yes,
Speaker 2: let's talk through that. Yes, are you planning on moving
Speaker 2: in with your girlfriend Beck?
Speaker 4: She's a bit of a slow mover. I was like, what,
Speaker 4: when's this gonna happen? She's like maybe like five six years?
Speaker 4: Like see how we go?
Speaker 2: Se what that is not a female same sex couple relationship?
Speaker 2: Were usually Yeah, you usually you ho it and you've
Speaker 2: moved point in two seconds and you're married next week exactly.
Speaker 2: I'm not her talk. I will have a chat to
Speaker 2: her because I'm ready right now. Okay, if you're ready
Speaker 2: right now, how are you splitting it? I think this
Speaker 2: is the thing.
Speaker 4: If I'm moving in with her or she's moving in
Speaker 4: with me, I'm thinking, we just, well, regardless whether we
Speaker 4: find a new place or moving in with each other,
Speaker 4: split the rent down the middle, split the utilities down
Speaker 4: the middle, unless one of us works from home.
Speaker 2: In that case we kind of have a conversation.
Speaker 4: Sure, but food wise, it would be really tricky if
Speaker 4: you're I guess one of you is eating a lot
Speaker 4: more or has like different dietary requirements. I guess it's
Speaker 4: easy for me to say because we kind of both
Speaker 4: have the same dietrees and we both you know, eat
Speaker 4: about the same amount.
Speaker 2: Doesn't look like it, but we do.
Speaker 4: And then I would say, like, you know, we kind
Speaker 4: of go half and half, like she'll buy dinner one
Speaker 4: I'll buy a dinner the other night. But in this situation,
Speaker 4: because one of them is eating a significant amount more
Speaker 4: than the other, like whether that's meat and I'm you know, meat,
Speaker 4: it's quite expensive. I would literally just have a conversation
Speaker 4: about that and be like, hey, I'm going to buy
Speaker 4: dinners for us, like the breakfast and lunches.
Speaker 2: We can like take additional stuff. Do you want to
Speaker 2: just pick that up?
Speaker 4: Exactly your additional stuff Like here I'm cooking like a
Speaker 4: chicken pesto or something like that. Like and if he's like, oh,
Speaker 4: that's not enough protein for me, Hey, any additional you
Speaker 4: just grab for yourself. But like I'm just this is
Speaker 4: what I've got in the pantry, is what I'm making.
Speaker 2: And then yeah, kind of find a way.
Speaker 4: But I know what you mean, Like you do want
Speaker 4: to sound stingy. It is quite new still, as they mentioned,
Speaker 4: and so it is a real tricky one. But I
Speaker 4: would say, as it always comes down to communication is key.
Speaker 2: Wow, I didn't see that coming, Jess. How do you
Speaker 2: manage it?
Speaker 3: I agree, like we split everything fifty to fifty, my
Speaker 3: partner and I will in terms of like rent, groceries
Speaker 3: and bills and stuff.
Speaker 2: But if like you're feeling like there's.
Speaker 3: A lot of inequity, I think you know, similar to you,
Speaker 3: My partner and I have pretty comparable in terms of
Speaker 3: what we consume. I mean I work from homes. If anything,
Speaker 3: I guess I'm chewing through electricity, but.
Speaker 2: Hard money for you, Yes, let's not mention it. Hope
Speaker 2: you're not listening, James. Yeh, keep that on the downlight.
Speaker 3: No, But I think, like, if it's something that stresses
Speaker 3: you out, And also I guess the salary thing, Like
Speaker 3: she's mentioned she's on seventy thousand and she feels like
Speaker 3: that's putting her on a tight budget. Is your partner
Speaker 3: earning significantly more? If that's the case, maybe look at
Speaker 3: an equity split we've spoken about before, Like, yeah.
Speaker 2: I was about to go, hey, can we rewind a
Speaker 2: little bit because Jess has been on the show a
Speaker 2: number of years now, and you guys might know that
Speaker 2: Jess's partner used to study and we've spoken about it
Speaker 2: publicly before on the show. Because Jess, you haven't always
Speaker 2: split things fifty to fifty, have you? No? We our
Speaker 2: rent at one point was split.
Speaker 3: I paid more because the place that we lived, you know,
Speaker 3: I wanted more asthetic things.
Speaker 2: He would live in a shock and couldn't.
Speaker 3: Care less or men like that, and I was like, no, no,
Speaker 3: like I need, you know, and for work as well
Speaker 3: as like I need like nice lighting because that's her content.
Speaker 2: Yeah, just the simple things.
Speaker 3: So I said I was happy to pay more because
Speaker 3: I was like, well, I earn more and the place
Speaker 3: that we would rent would be more expensive based on
Speaker 3: what I want. So to me, I was like, that
Speaker 3: seems reasonable, Like I'm happy to pay more rent totally.
Speaker 3: And then obviously now he has a full time job,
Speaker 3: he's graduated, and we've gone to fifty to fifty and
Speaker 3: that works for us. You know, it's different for everybody,
Speaker 3: I guess. But if this is something that our listener
Speaker 3: is feeling pressured about, like, that's a great and very
Speaker 3: reasonable conversation I think to have.
Speaker 2: And that's where the conversation comes down to equity versus
Speaker 2: equality in relationships, Like there is a difference between the two,
Speaker 2: and splitting fifty to fifty might make sense for you guys,
Speaker 2: because you're basically on the same page, earn very very
Speaker 2: similar amounts, and you can call it a day, like
Speaker 2: you and your partner are becke, but like, let's go
Speaker 2: really dramatic for a hot sekend. If your partner owns
Speaker 2: three hundred thousand dollars and your own fifty thousand dollars,
Speaker 2: is that actually fair to split things fifty to fifty
Speaker 2: and expect you to live up to the lifestyle of
Speaker 2: your partner, or even if your partner's willing to live
Speaker 2: on that fifty thousand dollar lifestyle, If and though they're
Speaker 2: earning three hundred thousand dollars, is that fair that they
Speaker 2: have so much more savings capacity in terms of percentage
Speaker 2: than you when you know you're probably scraping by, Like
Speaker 2: in this economy, you would absolutely be scraping by on
Speaker 2: that salary trying to keep up. So I think it's
Speaker 2: important to talk about. You know, it's very normal to
Speaker 2: want to split based on income, and so what we
Speaker 2: haven't learned in that story or in that message is well,
Speaker 2: how much does your partner earn? That should actually come
Speaker 2: into the conversation. Are you not wanting to split it
Speaker 2: because you're fifty to fifty and you know you earn
Speaker 2: similar amounts and therefore you know he's actually just spending
Speaker 2: more great have that conversation, but also is he earning
Speaker 2: significantly more? And we need to have an equity conversation
Speaker 2: about splitting it differently, because what's fair inside a relationship
Speaker 2: doesn't mean dollar for dollar, and I think that sometimes
Speaker 2: we just assume that because Beck paid a dollar, I
Speaker 2: should pay a dollar. But it's different in a friendship
Speaker 2: than it is inside a relationship because I'm you moved
Speaker 2: in with them because you see a long term sitch happening. Yeah,
Speaker 2: like you're not moving in with somebody hopefully because you're like, ah,
Speaker 2: let's move in with Jess right now, break up next year, yeah, Jess, Like,
Speaker 2: let's just keep everything super separate and not get our
Speaker 2: lives intertwined, like you are intertwining your lives because you're
Speaker 2: moving in together. So I feel like these conversations need
Speaker 2: to become second nature, especially now before life becomes more complicated,
Speaker 2: before you're negotiating who's picking nappies up and who's you know,
Speaker 2: going to be paying for the mortgage and where the
Speaker 2: offset account is sitting if those are goals of yours
Speaker 2: in the future. So I think it's really important to
Speaker 2: talk about sharing rent and bills with a partner, and
Speaker 2: you shouldn't feel bad because you know what, you might
Speaker 2: be humbled. They might turn around and go, well, Beck,
Speaker 2: I know that you are saying that I should be
Speaker 2: spending less on meat. Can you stop putting all your
Speaker 2: makeup into the daily expenses categories? You know, every time
Speaker 2: we go, you're picking stuff up the supermarket, spending an
Speaker 2: extra fifty bucks? Like, so I think we should also
Speaker 2: look at well, are you spending quote your money collectively together?
Speaker 2: And that fifty to fifty might actually be distributed differently. Yes,
Speaker 2: you might be tunnel visioned and only seeing the meet
Speaker 2: Is there something of yours that maybe evens it out?
Speaker 2: And you might go, oh, actually, I might not say
Speaker 2: anything because it's actually working out well and maybe he's
Speaker 2: thought of it as well. Or is it actually not even?
Speaker 2: And we need to have this conversation.
Speaker 3: If anything like the longer you live with someone, whether
Speaker 3: like regardless of how much or how little you share
Speaker 3: your expenses, you need to be able to have the conversation,
Speaker 3: like it's a skill really to be able to talk
Speaker 3: to them comfortably and openly.
Speaker 2: And so it starts with things like this. And if
Speaker 2: you can't talk about things like this as money gets
Speaker 2: more complicated, it will get harder and harder to start
Speaker 2: those money conversations. So the searcher, the better. My friends,
Speaker 2: what did everybody else say? So we obviously took this
Speaker 2: to the community. It's one of my favorite things. We said,
Speaker 2: tell us your two cents, and obviously you did. Definitely
Speaker 2: tell us your two cents. Couple said it's to depend
Speaker 2: on income. I'm definitely all for equity in terms of
Speaker 2: rent if you have different salaries, But the furniture does
Speaker 2: seem a little extreme. Someone said, a fifty to fifty
Speaker 2: grocery split feels like you're funding his hobby, not just
Speaker 2: the essentials. That's true, true, that's fair. Totally agree that
Speaker 2: she shouldn't have to pay more for groceries if he's
Speaker 2: eating more. A good conversation to have. Someone said, if
Speaker 2: you're really worried about this stuff, are you actually ready
Speaker 2: to live with someone else? Well, now that's a good question.
Speaker 2: You don't want to share your expensive couch? Well yeah,
Speaker 2: someone else said this stuff should have been discussed before
Speaker 2: moving in together, Like, totally, I totally understand that. But
Speaker 2: you know what, we can't think of everything now, Yes,
Speaker 2: do you know what? Sometimes I really hate when people
Speaker 2: are like, well you should have done it differently, that
Speaker 2: doesn't happen. Oh yeah, really helpful for it, ex thanks
Speaker 2: for that. But I'm here now, So where's the advice
Speaker 2: for now? Exactly? I feel like I've been getting really
Speaker 2: up and ante on and not replying or anything, but
Speaker 2: like seeing lots of like Facebook posts where people are
Speaker 2: asking for advice and people are jumping in being like,
Speaker 2: well you shouldn't have done it to begin with. I'm like, Susan,
Speaker 2: we're here now, Like, just let it be, let it be,
Speaker 2: sit down, Have you got advice or you're just being
Speaker 2: hag so annoyed. I have way less patience people who
Speaker 2: say becoming a parent gives you like a beautiful level
Speaker 2: of patience, Denada, mine's worse. Some of you said, my
Speaker 2: partner pays more because he earns significantly more than me.
Speaker 2: They need to have that chat, which is exactly what
Speaker 2: we've said. Someone said, maybe having a joint account for
Speaker 2: every joint expense and then separate everything else for personal
Speaker 2: like his meat consumption. Someone said, same as me, my
Speaker 2: partner eats a lot more, but I have some expensive
Speaker 2: hobbies too. I just let it go. So I think
Speaker 2: that's important to kind of balance it out. As I said,
Speaker 2: maybe you're picking up some stuff, or maybe he goes well, actually, Jess,
Speaker 2: like you get all of those expensive ice creams and
Speaker 2: you say that I can have them, but I never
Speaker 2: eat them because I don't like them. Even out I'm
Speaker 2: not saying it will. That's why you have the trouble.
Speaker 2: You always want to have an open mind. Someone said,
Speaker 2: make sure that they understand a partnership. You're on the
Speaker 2: same team. One of you shouldn't be struggling, so speak up. Yeah,
Speaker 2: which I think is a good place to leave what
Speaker 2: your two cents were. We did ask a few other questions,
Speaker 2: and we said, if this was you, would you expect
Speaker 2: your partner to pay more rent because the place is furnished,
Speaker 2: And nineteen percent of you said yes, and eighty one
Speaker 2: percent of you said absolutely not. I wouldn't care. I'm
Speaker 2: just surprised about higher than I thought it would be.
Speaker 2: But I was really surprised about that. And then someone said,
Speaker 2: if you live with your partner, how do you split
Speaker 2: your groceries? Fifty seven percent of you split it fifty
Speaker 2: to fifty and forty three percent of you split the
Speaker 2: basics and pay for other items separately, So I feel
Speaker 2: like that's some good insight as well. But my friends
Speaker 2: sadly for my first Friday drinks back, we've run out
Speaker 2: of time it We'll have to do it again next week. Yeah,
Speaker 2: it's really nice to have you back up cours. Thank you, babies.
Speaker 2: I'm excited to be back as well. Genuinely, my favorite
Speaker 2: thing in the entire high world is this podcast. So
Speaker 2: I feel like I was itching and ready to go
Speaker 2: at like three weeks. I think I was messaging Jess
Speaker 2: being like can I come back? And She's like, absolutely not.
Speaker 2: We've got guest scheduled. You're not kicking them off the show.
Speaker 2: And I was like, oh okay, I will wait my turn. Sorry,
Speaker 2: sorry buddy. It has been a pleasure. I have loved seeing
Speaker 2: you guys and being back in the studio. But till then,
Speaker 2: we will see you next week on Monday from Money Jaries, Bright,
Speaker 2: Fresh and Early, and another Friday drinks next week, So
Speaker 2: see you later and have their best weekend guys. Bye guys. Bye.
Speaker 2: The advice shared on She's on the Money is general
Speaker 2: in nature and does not consider your individual circumstances. She's
Speaker 2: on the Money exists purely for educational purposes and should
Speaker 2: not be relied upon to make an investment or financial decision.
Speaker 2: If you do choose to buy a financial product, read
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards
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