Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money. She's on the Money.
Speaker 2: Hello, and welcome to She's on the Money, the podcast
Speaker 2: for millennials who want financial freedom. Today, my friends, it
Speaker 2: is Friday, which means it is time to get our
Speaker 2: little team together and celebrate you our incredible She's on
Speaker 2: the Money community. Today, Miss Jess Gorici is going to
Speaker 2: be sharing our favorite money wins from the community. We're
Speaker 2: going to be helping to answer a juicy money dilemma,
Speaker 2: which this week is all about whether to take on
Speaker 2: a shorter or a longer period repaying a home loan.
Speaker 2: And we're going to unpack something that you slid into
Speaker 2: our DMS about this week, which is all about running
Speaker 2: aside hustle and friendship boundaries. Miss Jessic Ricci, how has
Speaker 2: your week been? It's been good.
Speaker 4: It's been low key, kind of chill, which is nice
Speaker 4: after a couple of crazy, crazy weeks for us.
Speaker 2: I love it. I feel like I'm still kind of
Speaker 2: riding the high. Yeah, but at the same time, I'm
Speaker 2: so scared that the high is about to drop and
Speaker 2: I'm going to get really sick, you know, that anxiety
Speaker 2: waiting for the bee to drips coming back. How has
Speaker 2: your week been?
Speaker 5: Really nice? Also low key? I believe what have I done?
Speaker 5: The change of I don't know.
Speaker 2: How's in your job going?
Speaker 5: Oh I'm really liking it? Oh God, yeah, I really
Speaker 5: liking it. You know, in like little random it's information
Speaker 5: finally start to form a picture in your mind. Yeah.
Speaker 5: I think I'm getting to that point and I feel
Speaker 5: really good and really comfortable.
Speaker 2: It makes you so much more confident, right, yeah, love love,
Speaker 2: love love. All right, let's jump straight into it, Miss
Speaker 2: Jessica Ricci, you were raving about it earlier. What are
Speaker 2: the community money wins that you're bringing to the table
Speaker 2: today already.
Speaker 4: My first money win comes from Nicole, who said, money
Speaker 4: win this week. I've finally gotten to the point where
Speaker 4: I was able to decrease the limit on my credit
Speaker 4: card to five thousand dollars from ten thousand dollars after
Speaker 4: paying down some of the debt on it. My next
Speaker 4: target is to get it down to two thousand dollars. Queen,
Speaker 4: little baby steps. Still having debt, is totally fine, working
Speaker 4: on it.
Speaker 2: Huge win. I feel like so many times people are like, oh,
Speaker 2: I feel really ashamedful because I'm still in debt. No, Queen,
Speaker 2: I'm proud of the behaviors that you have towards getting
Speaker 2: rid of that debt. Absolutely, and also what happens when
Speaker 2: you get out of debt, You've already got those behaviors astablish.
Speaker 4: That's truly say congratulations and a cole. My next money
Speaker 4: when comes from Samantha, who said I didn't buy a
Speaker 4: new dress for a wedding.
Speaker 2: I always do.
Speaker 4: I'm currently sixteen weeks pregnant, and I uncomfortably squeezed into
Speaker 4: one that I already had so I could save myself
Speaker 4: some money.
Speaker 2: Oh that is smart. We were talking about it. Actually
Speaker 2: I put it in last week's newsletter because a few
Speaker 2: people DMed us about our outfits and Jesse you were like, hey,
Speaker 2: ve can I do a post on She's on the
Speaker 2: Money about the outfits we all wore to International Women's Day?
Speaker 2: And I was like, yeah, of course they were really cute.
Speaker 2: But something that She's on the Money team does, which
Speaker 2: I think I don't know if it's important to point out,
Speaker 2: but I think it's fun to point out because we're
Speaker 2: always was like, oh my god, if you've got an
Speaker 2: event or all dress from a friend or hire it
Speaker 2: or do whatever. We literally walk the walk like Jess.
Speaker 2: We share wardrobes all the time, literally all the time,
Speaker 2: Like if you see me in a dress, very high probability,
Speaker 2: it's Jesses and vice versa. And even for International Women's Day,
Speaker 2: it was funny because Gabby my Ea was like, hey Vee,
Speaker 2: I really like that dress. Can I wear it in
Speaker 2: two weeks time when we do you know? Perse? And
Speaker 2: I was like, of course you can. It's got pocket
Speaker 2: like I didn't invest in address for it to get
Speaker 2: out once. But anyway, great outcome dress.
Speaker 4: Sharing And that's a little theme I'll touch on that
Speaker 4: inner is it actually my next money in It comes
Speaker 4: from Kelly, who said money whin, I was able to
Speaker 4: Postpoe the kid's dentist appointment because there was one visiting
Speaker 4: at their school the same week.
Speaker 2: They would you was that, like, Harold, I think that's
Speaker 2: what I thought.
Speaker 4: I was like, is that potentially the giraffe? I don't
Speaker 4: know if he still existed? Does he still exists showing it?
Speaker 4: It's yeah, it's kind of weird now you think about it. Hey,
Speaker 4: this giraffe and a caravan is going to come to
Speaker 4: your school. Do you want to come in my creepy
Speaker 4: little dark caravan?
Speaker 2: Watch movies? It was alwaso dark.
Speaker 6: It was dark.
Speaker 5: That's what I remember, Like, I cannot remember what I
Speaker 5: learned in that caravan, nothing, but it was dark, the
Speaker 5: very dark.
Speaker 4: This next money win comes from Ashley, who said, my
Speaker 4: friend went in a ticket lottery for Harry Potter and
Speaker 4: The Curse Child play Melbourne tickets. We got last minute
Speaker 4: tickets and we only paid forty dollars each for hours
Speaker 4: normally one hundred and eighty f five dollars. Sometimes it
Speaker 4: pays to be flexible.
Speaker 2: Oh my god, forty bucks for a good night out.
Speaker 4: Yeah amazing, And that show is so good you're gonna
Speaker 4: love it. My final money when this week comes from
Speaker 4: M who said I went to a clothes swap at
Speaker 4: my friend's house the other week and got two bags
Speaker 4: of new to me clothes for free, as well as
Speaker 4: some books, clothes, and toys for my son.
Speaker 5: I love that.
Speaker 2: That's so cool. It does come into the wardrobe category.
Speaker 2: I feel like we do that with each other's wardrobes.
Speaker 4: I've definitely rifled through bags of your stuff and had
Speaker 4: a great time doing it.
Speaker 2: Soon she was just in my wardrobe. They were my
Speaker 2: new bags of clothes. I wondered those No, it's I
Speaker 2: feel like it's really fun as well, and like I
Speaker 2: get a kick when I see you guys wearing something
Speaker 2: that I might have given you, because I'm like, I
Speaker 2: never wore that anymore. How good is it that it
Speaker 2: gets a second lease.
Speaker 4: At Lafe our first photo shoot that we did the
Speaker 4: three of us. Do you remember that dress that I wore?
Speaker 4: You were like cue dress, and I was like, thanks.
Speaker 2: It used to be yours.
Speaker 5: That's cause I'm also like a gold fish and my really,
Speaker 5: that's wild looks so good on you.
Speaker 2: Maybe I'll borrow Yeah, did you kind of want to
Speaker 2: back it?
Speaker 1: Up.
Speaker 2: No, No, I think Joe said that and I was like,
Speaker 2: absolutely not. That is not how fift works. All right,
Speaker 2: let's go to a really quick break because after the break,
Speaker 2: we're addressing a money dilemma about whether or not to
Speaker 2: take a shorter or a longer period to pay off
Speaker 2: your home loan. And we have a cheeky little DM
Speaker 2: that you guys wanted us to respond to about running
Speaker 2: aside hustle and boundaries when it comes to friendship. Don't
Speaker 2: go anywhere.
Speaker 4: All right, you know what time it is, guys, Let's
Speaker 4: listen to this week's money dilemma.
Speaker 7: Hi.
Speaker 2: There, have you got a money dilemma you just can't solve?
Speaker 2: The Sheese 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, I'm a huge fan and just got a quick question.
Speaker 6: We have just seen a mortgage broker as our fixed
Speaker 6: interest straight homelanners due to expiring me. We have already
Speaker 6: had the mortgage for six years, and from listening to
Speaker 6: your podcast, I requested the loan term be twenty four years.
Speaker 6: The mortgage broker recommended that we still take the loan
Speaker 6: term out as thirty years, however, making our loan repayments
Speaker 6: as if it were the twenty four year loan term.
Speaker 6: He said his reasoning was because if we are unable
Speaker 6: to make the higher repayments, the low of repayments could
Speaker 6: be our safety. Now, just want us to get your
Speaker 6: thoughts on this. I wasn't sure if he was making
Speaker 6: a genuine recommendation or if he was trying to ensure
Speaker 6: we keep the loan for longer and keep him in
Speaker 6: business for longer.
Speaker 2: Thanks well, my friend. The first mistake you're making there
Speaker 2: is not going to see the Zell Money team, because
Speaker 2: the guarantee if you saw the Zella Money team, you
Speaker 2: wouldn't need to ask us whether it is a good
Speaker 2: idea or not, because you just know you'd have good education.
Speaker 2: But that's me being a little bit biased and also
Speaker 2: putting really unrealistic expectations of my team educating the client.
Speaker 2: But I also think that that's not the worst idea
Speaker 2: in the entire world. I can completely see where he's
Speaker 2: coming from. But I also think it's kind of like,
Speaker 2: all right, well, have you done the maths on what
Speaker 2: the repayments on a twenty four year loan are versus
Speaker 2: what the repayments on a thirty year loan are? And
Speaker 2: at the end of the day, obviously, if you're in
Speaker 2: the position to be able to pay off your mortgage
Speaker 2: ahead of schedule, you're going to save money on the interest.
Speaker 2: From my perspective, if you stretch out that loan to
Speaker 2: be a thirty year mortgage, the interest is also stretched out,
Speaker 2: So I don't particularly love that. I actually want it
Speaker 2: to be really condensed. And the more condensed, the more
Speaker 2: principle you're paying off your home loan. So that's a
Speaker 2: better idea from my perspective. But I also think it's
Speaker 2: really situational, and if your mortgage broker has suggested two
Speaker 2: different scenarios, what they should have provided you with is
Speaker 2: the breakdown of the total interest paid on both of
Speaker 2: those circumstances, the total repayments that would need to be made,
Speaker 2: and all of the other circumstances. But in saying that,
Speaker 2: I think that in this current economy, is a little
Speaker 2: bit different to the advice I might have given two
Speaker 2: or three years ago, right, because obviously it's more than
Speaker 2: double what it was historically, and that is painful for
Speaker 2: me to say as somebody who has a mortgage and
Speaker 2: is definitely feeling the brunt of it, which a lot
Speaker 2: of our community are as well. However, I think that
Speaker 2: if you're in a situation where you're like the flexibility
Speaker 2: might be really good, even though long term the interest
Speaker 2: may be a little higher. I don't think it's the
Speaker 2: worst position to be in to afford yourself with a
Speaker 2: bit more flexibility, especially because we don't know what interest
Speaker 2: rates are going to be doing into the future.
Speaker 4: Is it also possible that having a thirty year loan
Speaker 4: may increase borrowing capacity because if they're looking at your
Speaker 4: income versus your ability to repay that they might if
Speaker 4: you have those additional ten years, the bank might consider
Speaker 4: you're able to borrow more.
Speaker 2: Yeah. Absolutely in this circumstance. I don't know how applicable
Speaker 2: that is though, because she said she's refinancing. So if
Speaker 2: you're refinancing and she says I've asked for a twenty
Speaker 2: four year term, that from you know, just making some
Speaker 2: really basic assumptions based on the fact that most loans
Speaker 2: are thirty years. She's six years into that term, so
Speaker 2: she's probably spent six years paying that mortgage, and she's
Speaker 2: probably just refinancing, maybe because her interest rate is unlocked
Speaker 2: and it's gone up, and you know, you just need
Speaker 2: to make sure you're always in the best possible position,
Speaker 2: or because it just makes sense to see a broker
Speaker 2: at that point. And I mean, right now is actually
Speaker 2: a really good time to see a mortgage broker, because
Speaker 2: there's actually like the banks want to keep your business,
Speaker 2: and like we've been talking to a few clients recently
Speaker 2: where it's like, hey, cool, we can actually change your
Speaker 2: mortgage really minimally, like you're going to be in a
Speaker 2: better position. It's not the sexiest change, like I'm not
Speaker 2: cutting it in half or anything, but by changing your
Speaker 2: mortgage and going to this other bank, you're going to
Speaker 2: have access to an offset account and also they're going
Speaker 2: to give you four thousand dollars cash back. Great, Like
Speaker 2: that's sexy. Yeah, Like that's really nice. So I think
Speaker 2: talking to a mortgage broker always, whether you think it's
Speaker 2: necessary or not, is not a waste of time and
Speaker 2: talking to one that's actually going to educate you about
Speaker 2: your experience, and I don't mean to throw this dude
Speaker 2: under a bus. So I think that as somebody who
Speaker 2: literally owns more good broken company, I have really high
Speaker 2: expectations of brokers, I think, coming from the financial advice
Speaker 2: industry and always wanting to educate clients and put them
Speaker 2: in the best possible position to create wealth. That's kind
Speaker 2: of been overlaid over the you know, just get client
Speaker 2: alone vibe that a lot of brokers have. And if
Speaker 2: you're asking me, is this a good idea or not?
Speaker 5: I don't.
Speaker 2: It sounds really nasty, doesn't it. But I just think
Speaker 2: that you're a broker has not done enough to educate
Speaker 2: you because both scenarios should have been mapped out in
Speaker 2: plain language for you to go, ah, yes, Option A
Speaker 2: means I pay x interest and this many repayments and
Speaker 2: over the long term, I'm in this position. B means
Speaker 2: ex payments this position over the long term, and then
Speaker 2: you can just make the decision that makes the most
Speaker 2: sense for you. Having a broker that just says, oh, yes,
Speaker 2: I don't think that's a good idea. I think you
Speaker 2: should just take the thirty year loan and you know,
Speaker 2: deal with the repayments and then you've got more flexibility
Speaker 2: what you meant and not along and be like yeah,
Speaker 2: of course, sorry, yeah, sorry, so trying to be educated,
Speaker 2: like he should have mapped that out so that you
Speaker 2: felt like, oh, fire out. You're right, that is great
Speaker 2: outcome because everybody's circumstances are going to be different. And
Speaker 2: that's why you don't just log into an online portal
Speaker 2: to get a loan. You actually have to see a
Speaker 2: broker who takes your lifestyle and your budget and your
Speaker 2: circumstances and your goals and what's going to happen in
Speaker 2: your life into consideration to make sure you get the
Speaker 2: right product. So, yeah, I'm a bit biased, but I
Speaker 2: also think just education is key and we should if
Speaker 2: you're getting paid to do a service, you should be
Speaker 2: earning that. Yeah, from my perspective, that's fair. Sorry, I agree.
Speaker 4: Now, last week we obviously answered a juicy DM about
Speaker 4: side hustles and friends with small businesses, and I think
Speaker 4: whoever dmeds this week was listening to that because they've
Speaker 4: kind of flipped the topic on its head, haven't they.
Speaker 2: They absolutely have. I laughed when this one came through
Speaker 2: because I was like, this is very timely and you've
Speaker 2: obviously been listening to the pod my friend, So we
Speaker 2: picked it this week because it kind of like float
Speaker 2: on really nicely and kind of came from another perspective.
Speaker 2: So this week our community dilemma sounded like this, Hey, girls,
Speaker 2: I just wanted to send through something based on your
Speaker 2: convo last week, and that's why I came up with
Speaker 2: this conclusion. I'm on the flip side and I'm actually
Speaker 2: a side hustle owner, and I find navigating this with
Speaker 2: my friends really hard. Sometimes I think my friends expect
Speaker 2: a discount or items are free, and with the cost
Speaker 2: of living, I really can't afford to do this right
Speaker 2: now and I'm actually about to increase my prices. Keen
Speaker 2: to hear the other side of this and how I
Speaker 2: can approach this with my friends, that is a very
Speaker 2: good question.
Speaker 5: I personally am a like a digital designer outside of this,
Speaker 5: and I kind of make like little I don't know,
Speaker 5: just like art print pieces.
Speaker 2: That's why we got you to do all this shites
Speaker 2: on the money branding for free, right, Yep, that's me.
Speaker 5: But I kind of, yeah, I do find that some
Speaker 5: people will really want to support me, so they'll be like, hey,
Speaker 5: I love your work, I love your style. Can you
Speaker 5: do this or this or this? And they're like, I
Speaker 5: don't know how much I'm actually meant to be charging, yeah,
Speaker 5: because it's like a challenging It's challenging when it's a
Speaker 5: print because I'm like, do I put you know, charge
Speaker 5: you based on my hourly rate or do I just
Speaker 5: charge you based on like, because the printing is quite expensive.
Speaker 5: Can we had hundreds of dollars to get it printed
Speaker 5: on like floating frame canvas, nice light oak, look wood?
Speaker 5: It can be very expensive, and so do I charge
Speaker 5: more than that? That's excessive. I feel as a kind
Speaker 5: of like an excessive beginner.
Speaker 2: Get what you pay for.
Speaker 1: Ye.
Speaker 5: It's always very like I never know what to do,
Speaker 5: and so I find myself thinking, Okay, I'm very grateful
Speaker 5: that you want to support me, but it takes hours,
Speaker 5: if not days, if not weeks, and then I'm probably
Speaker 5: going to get profit, maybe like twenty bucks. But that's
Speaker 5: on me, absolutely not, absolutely not.
Speaker 2: You and I have to have an offline conversation about again,
Speaker 2: because your time is absolutely worth money, and I think
Speaker 2: that your comment there's lots of layers there there. We're
Speaker 2: going to have to break those down. But let's pretend
Speaker 2: for a hot second that you did know what your
Speaker 2: hourly rate was, or what like your artwork rate was.
Speaker 2: And let's pretend for a minute that each piece of art,
Speaker 2: and this might be grossly undervaluing you in that is
Speaker 2: not what I'm meaning to do. It's just an example.
Speaker 2: Each piece of artworks five hundred bucks. Right, do you
Speaker 2: give your friend a discount just for being your friend?
Speaker 2: That's a very tricky one. Oh, I'm obliged to no,
Speaker 2: but you shouldn't. No, absolutely not.
Speaker 5: If I want your art in my home, I want
Speaker 5: it hanging on my wall knowing that I did absolutely
Speaker 5: everything to support a friend who has started a business
Speaker 5: and produces art, Like I want to look at that
Speaker 5: painting up on that wall or that piece of art
Speaker 5: that you've created, and no, not only did you do
Speaker 5: that for me, but I contributed to you running a
Speaker 5: successful business. I don't want a piece of art on
Speaker 5: my wall that I go, oh my god, Yeah I
Speaker 5: got that piece of art. It's from my friend Beck
Speaker 5: and I actually took the absolute mickey out of her.
Speaker 5: I got the biggest discount, so she wasn't remunerated for
Speaker 5: her time or the energy or the effort that she
Speaker 5: put into that check it out look sick.
Speaker 2: Right, Yeah, that's hick. That's ick. Like, if you can't
Speaker 2: afford to be buying art from your friend, you shouldn't
Speaker 2: be doing it. And that goes for any service. Like
Speaker 2: I'm not going to ask for a free haircut from
Speaker 2: my friend just cush's a hairdresser when she works at
Speaker 2: one of the best salons in Melbourne, Like, you know,
Speaker 2: if she offers it and you're having a few drinks
Speaker 2: on a Friday night, I think that's a very different situation, Yeah,
Speaker 2: than going, oh, well, because you're a hairdresser, you probably
Speaker 2: should be cutting my bangs for free. Like that's It's
Speaker 2: just not the case.
Speaker 7: Yeah.
Speaker 2: I just think that if you genuinely want to support
Speaker 2: your friend in business, support them properly, back them and
Speaker 2: actually back up their prices, because your friend is absolutely
Speaker 2: worth what they are charging. Yeah, Jess, what are your
Speaker 2: thoughts now? I agree?
Speaker 4: I think that, as you said, it's like a different
Speaker 4: circumstance and I feel like this is probably my experience
Speaker 4: just because me and a few of my friends work
Speaker 4: in more creative industries. But I think it's quite common
Speaker 4: within our circle at least that it's kind of like
Speaker 4: a tit for tat. So I shoot content outside of work,
Speaker 4: and so sometimes my friends will be like, hey, like,
Speaker 4: if I give you this, are you happy to send
Speaker 4: me some picks I can use? And it's kind of
Speaker 4: like a given receive, which I think is a bit
Speaker 4: different to absolutely a friend going oh, I just expect
Speaker 4: it for free, because, as you said, you're my friend.
Speaker 4: Because ultimately, if that's what they're expecting, they're putting you
Speaker 4: out because you've spent the money to get the materials,
Speaker 4: or you've spent the you know, the hours to create
Speaker 4: the drawing or the digital art or whatever it is.
Speaker 4: So I think like there is definitely gray. They're like,
Speaker 4: it's not black and white. Every friend must play a
Speaker 4: full price all the time.
Speaker 2: Oh absolutely. Do you know how many times I have
Speaker 2: given my friends free advice or I have you know,
Speaker 2: given them the budget and cash flow masterclass for free
Speaker 2: or done things like I do it all the time.
Speaker 2: I get it. Yeah, But I think it's the expectation
Speaker 2: one hundred percent, Like if someone came to me and said, oh,
Speaker 2: ve like I want one of your books? Can you
Speaker 2: just send it to me? I'd be like, wait, what
Speaker 2: do you know how many books I sent to my friends?
Speaker 2: Like I'm so proud of that, Like I want every
Speaker 2: single one of my friends to have that in their hands. Yeah,
Speaker 2: Like that makes me proud. But I think if someone
Speaker 2: approached me, which they haven't because I have nice friends,
Speaker 2: and been like, oh, hey, do you have any free
Speaker 2: books lying around your office? Can I have one?
Speaker 5: Yeah?
Speaker 2: Totally different, different, totally right, like, oh hey, can I
Speaker 2: buy it a wholesale Like, ah, that just yours?
Speaker 5: Ick?
Speaker 2: Like it just doesn't feel like you're supporting me or
Speaker 2: my business. And I'm really lucky to be and I
Speaker 2: guess that privileged position where all of my friends are
Speaker 2: very similar to me and so they actually can afford that,
Speaker 2: and they do and it's so nice. But we also
Speaker 2: ask the community, right, And I think that that's my
Speaker 2: favorite part of these dilemmas is it's not just our opinions,
Speaker 2: because like, our opinions are ours, but the opinion of
Speaker 2: the community really backs up my opinions. So I really
Speaker 2: validated guys. So we said to our community, all right,
Speaker 2: give us your two cents on this. What do you
Speaker 2: guys think and our community said, any true friend wants
Speaker 2: to support a friend with a business, end of story.
Speaker 2: Someone else said, if you truly want to support friends
Speaker 2: with a small business by purchasing, then pay full price.
Speaker 2: Someone said, yeah, it can be hard. I run a
Speaker 2: small business and when I do it, I don't take
Speaker 2: my time into consideration. I feel like that makes sense.
Speaker 2: Someone said people are constantly expecting discounts and don't realize
Speaker 2: the time, effort and money you spend on getting there
Speaker 2: and the actual cost of a discount. Which it's right,
Speaker 2: Like if you're asking for a discount, where is that
Speaker 2: coming from? Like your friends business is like profit or
Speaker 2: their bottom line or are they just working for hours
Speaker 2: for free when they could have been working on another
Speaker 2: project that actually would have paid them. Like I feel
Speaker 2: like everything is different. You're right, yes, but it's also
Speaker 2: as a small business, I feel like we need in
Speaker 2: this circumstance to actually just have really strong boundaries and
Speaker 2: be able to say no, Like no is a full sentence.
Speaker 2: Can you give me a discount? No, you don't have
Speaker 2: to go. No, I'm so sorry either. Here's my justificate.
Speaker 2: You don't owe anybody a justification.
Speaker 4: I think in that circumstances to your friends are expecting
Speaker 4: a discount. They care more about what you can do
Speaker 4: for them rather than YEA, the friendship, like they're caring
Speaker 4: about the product or the service. And so it's probably
Speaker 4: not the kind of personality that you're going to want
Speaker 4: to be supporting you and uplifting you on your journey,
Speaker 4: because small business ownership is a journey and it is
Speaker 4: really tough, and you want the right people around you
Speaker 4: who want to buy your stuff, or if they can't
Speaker 4: afford it, they want to promote it and share your
Speaker 4: Instagram to their other friends or whatever it might be
Speaker 4: as well.
Speaker 2: If that's what they're expecting that they're just not nice.
Speaker 2: It's not on your team. And like Jess, we ran
Speaker 2: up against this because we recently had our International Women's
Speaker 2: Day events, right, and both you and I were in
Speaker 2: the circumstance where we turned to each other and we're like,
Speaker 2: my best friend bought a ticket, yeah, v can you
Speaker 2: refund her she shouldn't have been paying, Or like I
Speaker 2: had girlfriends that paid for tickets that slipped through the
Speaker 2: cracks and on the day I was like, what are
Speaker 2: you doing here?
Speaker 5: And they're like, oh my god, we bought tickets, and
Speaker 5: I felt so bad because I was like, oh my god,
Speaker 5: I didn't check the guest list because at each event
Speaker 5: there was like five hundred people, so it is hard
Speaker 5: to keep tracking like that and run the events right.
Speaker 5: And I was like, oh my god, I feel so
Speaker 5: guilty that you bought tickets. And they're like, V we'd
Speaker 5: never ask, and.
Speaker 2: I'm like, I know you wouldn't ask, but I should
Speaker 2: have offered. And I feel like there's this nice amount
Speaker 2: of privilege in our business where we can afford to
Speaker 2: refund the ticket because, like you know, events for us
Speaker 2: aren't about making money. We just want to make sure
Speaker 2: that everyone has a really good time. But smaller businesses
Speaker 2: who are still finding their feet, like I was at
Speaker 2: the very beginning, I couldn't have to give away tickets
Speaker 2: to my workshops when I first started. Yeah, like I
Speaker 2: genuinely needed every seat in that workshop that I was
Speaker 2: running to cover its cost because otherwise I was going
Speaker 2: to be out and I was already a small business
Speaker 2: and I didn't really know how I was going to
Speaker 2: do payroll the next month, and it can be really stressful.
Speaker 2: Now we're in that privileged position where were like, oh, yes,
Speaker 2: your mate shouldn't be paying. But I feel like it's
Speaker 2: a really interesting position where I think you, as a
Speaker 2: small business owner, I need to surround yourself with the
Speaker 2: right people, but also know your boundaries. Totally. A couple
Speaker 2: of people here, I thought this was really sweet. She says.
Speaker 2: My friend has a candle business, and once she had
Speaker 2: a two for one sale, so I just went ahead
Speaker 2: and I bought six and paid full price for all
Speaker 2: of them. I just feel like that's really wholesome. Someone
Speaker 2: else said, I'm a personal trainer and I always let
Speaker 2: my friends join in my group sessions for free if
Speaker 2: they ever want to, but I can't afford to give
Speaker 2: them one on one free personal training. Yes, that's a
Speaker 2: really nice compromise exactly, just on that.
Speaker 5: It is probably one of those things where in this situation,
Speaker 5: somehow people actually do genuinely want to support and so
Speaker 5: they think that they're helping out by doing these things
Speaker 5: and reaching out and asking for something from your business
Speaker 5: or from your time or whatever your energy, and not
Speaker 5: realizing that it's costing you more than possibly it should,
Speaker 5: or the perception of how much it costs isn't quite
Speaker 5: lining up, and so it can simply just be a
Speaker 5: conversation like that. Unfortunately that doesn't I can't afford to
Speaker 5: do that in this situation where there's like, oh, you
Speaker 5: can jump in on a group session, but I can't
Speaker 5: afford to training one on one. Maybe her friends are
Speaker 5: wanting to support her but don't realize how much it costs.
Speaker 2: Yeah, one hundred percent.
Speaker 5: So yeah, just sitting small boundaries and just being like, hey,
Speaker 5: that will cost me a lot of money. I can't
Speaker 5: do that, but here try this, you know exactly.
Speaker 2: And I think when we say set boundaries, like boundaries
Speaker 2: don't have to be aggressive, they can actually be really
Speaker 2: soft and kind. And we've spoken about this before where
Speaker 2: I'm a boundaries person, but I hate enforcing them because
Speaker 2: I feel a little bit awkward, Like beck, if you
Speaker 2: ask me for something, I hate saying no. It's just
Speaker 2: my personality time. So it's all about finding a work
Speaker 2: around and language that feels really comfortable for me. And
Speaker 2: I know that a lot of small business owners are
Speaker 2: in a similar situation where they're like I should be
Speaker 2: this strong, independent woman who can say no to everything,
Speaker 2: and then your friend us for something and you're like, yeah,
Speaker 2: of colose. I I think it's just really normal. There
Speaker 2: are a couple more that I want to read out
Speaker 2: just because I feel like they're really wholesome. And this
Speaker 2: one backs up your opinion, Jess. She says, if you
Speaker 2: do an exchange so both are business owners, then that's
Speaker 2: okay to not pay because you're both getting something out
Speaker 2: of the deal. Someone else said, my cousin's a really
Speaker 2: good beauty therapist, and I always pay her full price.
Speaker 2: Someone else, who I absolutely agree with this, says, I'm
Speaker 2: really itching to understand why others expect so much versus
Speaker 2: being grateful. Yeah, okay, I totally get that. So I
Speaker 2: think with that that's probably a really beautiful place to
Speaker 2: leave it. Please don't expect your friends to give you
Speaker 2: stuff for free. If they have a small business, the time,
Speaker 2: the energy, the effort they put into that. Not only that,
Speaker 2: but the risk that they're taking to go out on
Speaker 2: their own as a business owner is wild. To go
Speaker 2: away from having a paid job, Yess, in this economy,
Speaker 2: in this economyful, in this economy, Like that's wild. We
Speaker 2: absolutely should be backing our friends. But my loves, I
Speaker 2: think that is all we have time for on this
Speaker 2: very beautiful Friday. So guess what we'll see you next Monday.
Speaker 2: Have the best weekend by Guys By The advice shared
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