1 00:00:00,200 --> 00:00:03,240 Speaker 1: My name's Tasha Bamblet. I'm a proud First Nations woman 2 00:00:03,600 --> 00:00:08,600 Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya, Niana, 3 00:00:08,680 --> 00:00:11,920 Speaker 1: Kaka yah y and Binahaka Nian our gay In Nimbini 4 00:00:11,960 --> 00:00:17,720 Speaker 1: yakarum Jar Dominyamiga Umagahawaka Woman Damon Imlan Bumba ban Gadabomba 5 00:00:17,800 --> 00:00:20,280 Speaker 1: in and now in wakah ghan On yak rum Jar 6 00:00:20,680 --> 00:00:24,960 Speaker 1: water Nadaa. Hello, beautiful friends, we gather on the lands 7 00:00:24,960 --> 00:00:28,040 Speaker 1: of the Aboriginal people. We thank, acknowledge and respect the 8 00:00:28,040 --> 00:00:31,280 Speaker 1: Aberiginal people's land that we're gathering on today. Take pleasure 9 00:00:31,280 --> 00:00:33,839 Speaker 1: in all the land and respect all that you see. 10 00:00:34,600 --> 00:00:40,240 Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections, 11 00:00:40,960 --> 00:00:44,600 Speaker 1: bringing you the tools, knowledge and resources for you to thrive. 12 00:00:45,080 --> 00:00:46,839 Speaker 2: She's on the Money. 13 00:00:47,040 --> 00:01:04,360 Speaker 3: She's on the Money. 14 00:01:08,160 --> 00:01:11,120 Speaker 4: Hello and welcome to She's on the Money, the podcast 15 00:01:11,120 --> 00:01:15,240 Speaker 4: that makes personal finance fun according to us, especially on Fridays. 16 00:01:15,640 --> 00:01:17,600 Speaker 4: Welcome back to our favorite day of the week because 17 00:01:17,600 --> 00:01:20,200 Speaker 4: we get our small team together to celebrate you, our 18 00:01:20,319 --> 00:01:24,040 Speaker 4: incredible She's on the Money community now. This week is 19 00:01:24,160 --> 00:01:27,600 Speaker 4: just j Just Griccy and I once again She's obviously 20 00:01:27,640 --> 00:01:30,319 Speaker 4: going to share her favorite money wins from the community. 21 00:01:30,640 --> 00:01:34,080 Speaker 4: Beck's away again, and I'll be sharing broke tips, and 22 00:01:34,200 --> 00:01:36,399 Speaker 4: we're going to be helping to answer a money dilemma, 23 00:01:36,600 --> 00:01:38,920 Speaker 4: which is all about, well, what happens when you give 24 00:01:38,959 --> 00:01:41,800 Speaker 4: your kids large gifts of money? Hasn't happened to me, 25 00:01:41,880 --> 00:01:44,080 Speaker 4: but I know I do know how to prepare you, 26 00:01:44,160 --> 00:01:45,880 Speaker 4: so we can have a chat about that. And then 27 00:01:46,000 --> 00:01:49,000 Speaker 4: something that you slid into our DMS about buying house 28 00:01:49,040 --> 00:01:51,360 Speaker 4: with a partner when there is a big difference in 29 00:01:51,400 --> 00:01:54,800 Speaker 4: the amount you are putting in for the deposit, which 30 00:01:54,840 --> 00:01:57,120 Speaker 4: I think can get a little bit juicy as well. 31 00:01:57,320 --> 00:01:59,600 Speaker 4: And I know that the comments on that one kind 32 00:01:59,640 --> 00:02:02,760 Speaker 4: of pop off. But before we get there, Miss Jessurci, 33 00:02:03,360 --> 00:02:06,720 Speaker 4: it's mid October, you've probably got a countdown to Halloween. 34 00:02:06,840 --> 00:02:09,920 Speaker 5: Absolutely, how have you been. I think good. I finished 35 00:02:10,000 --> 00:02:13,480 Speaker 5: up my sewing course recently and I've taken the next 36 00:02:13,520 --> 00:02:16,640 Speaker 5: step up, so now I'm doing advance, which is not 37 00:02:16,639 --> 00:02:17,079 Speaker 5: that advanced. 38 00:02:17,080 --> 00:02:19,560 Speaker 4: It's just like it's like advance and you're like, I 39 00:02:19,639 --> 00:02:22,840 Speaker 4: made pants, who do I think I am? I'm surprised 40 00:02:22,919 --> 00:02:24,799 Speaker 4: you're not still wearing them every single day. 41 00:02:24,919 --> 00:02:27,959 Speaker 5: They're so comfy. I'm a big fan. So I think 42 00:02:28,120 --> 00:02:29,880 Speaker 5: this we get to kind of pick what we want 43 00:02:29,919 --> 00:02:31,320 Speaker 5: to work on. I want to try making a pair 44 00:02:31,360 --> 00:02:34,560 Speaker 5: of pants that's not actually jeans, but like this, you know, 45 00:02:34,600 --> 00:02:37,079 Speaker 5: with the zipper and the button and whereas the last 46 00:02:37,080 --> 00:02:38,680 Speaker 5: ones are kind of like PJ pants style. 47 00:02:38,760 --> 00:02:39,440 Speaker 4: Yeah, that's fine. 48 00:02:39,600 --> 00:02:41,480 Speaker 5: So I want to do that and maybe learn how 49 00:02:41,520 --> 00:02:43,280 Speaker 5: to line clothing and make a little. 50 00:02:43,120 --> 00:02:44,880 Speaker 4: Dress or some Yeah that's cute. 51 00:02:45,080 --> 00:02:45,880 Speaker 5: So we're just learning. 52 00:02:45,919 --> 00:02:49,240 Speaker 4: Are you using patterns or are you like just draw 53 00:02:50,040 --> 00:02:50,520 Speaker 4: so in it? 54 00:02:50,680 --> 00:02:53,320 Speaker 5: No, do we use patterns. So I bought a bunch 55 00:02:53,360 --> 00:02:56,600 Speaker 5: of Etsy because they're really good and really affordable, little 56 00:02:56,680 --> 00:02:58,440 Speaker 5: money in for anybody, Like you can get them a 57 00:02:58,480 --> 00:03:00,400 Speaker 5: lot of the places and them onself, like five dollars 58 00:03:00,400 --> 00:03:03,200 Speaker 5: a pattern, whereas they're so much more expensive to get 59 00:03:03,240 --> 00:03:05,480 Speaker 5: them at Spotlight. Obviously if you get them on it, 60 00:03:05,560 --> 00:03:07,240 Speaker 5: see you've got to print them and tape them together 61 00:03:07,280 --> 00:03:09,399 Speaker 5: and stuff. Okay, but I mean to save the money, 62 00:03:09,440 --> 00:03:10,320 Speaker 5: I'm happy to do it. 63 00:03:10,400 --> 00:03:13,560 Speaker 4: There's a TikTok girl that shares her patterns online, and 64 00:03:13,600 --> 00:03:15,080 Speaker 4: I'll have to send it to you because there's the 65 00:03:15,160 --> 00:03:17,720 Speaker 4: cutest little sum address that I saw and I was like, oh, 66 00:03:17,760 --> 00:03:19,880 Speaker 4: this is so jess coded, and I can't believe I 67 00:03:19,919 --> 00:03:21,760 Speaker 4: didn't send it to you in the moment. But that 68 00:03:21,880 --> 00:03:23,919 Speaker 4: is okay, I can go back and find it for you. 69 00:03:23,720 --> 00:03:25,480 Speaker 5: You how's your week been? Busy? 70 00:03:25,560 --> 00:03:28,440 Speaker 4: Busy, busy, But like that's a really good thing. We 71 00:03:28,560 --> 00:03:30,960 Speaker 4: have been very lucky over the last few weeks with 72 00:03:31,080 --> 00:03:34,400 Speaker 4: like some travel and some work and just I'm excited 73 00:03:34,440 --> 00:03:36,360 Speaker 4: to dive back into work. I keep saying to the 74 00:03:36,360 --> 00:03:40,840 Speaker 4: girls in the office, like I'm excited for nothing. Yeah, 75 00:03:40,880 --> 00:03:43,000 Speaker 4: if that makes sense, Like I'm excited to be able 76 00:03:43,040 --> 00:03:45,640 Speaker 4: to sit in my office and not have to zip 77 00:03:45,680 --> 00:03:48,040 Speaker 4: out to go and meet a different client or you know, 78 00:03:49,120 --> 00:03:51,000 Speaker 4: bank together a whole heap of work because I'm going 79 00:03:51,040 --> 00:03:53,000 Speaker 4: to be not in the office for the next few days. 80 00:03:53,040 --> 00:03:55,960 Speaker 4: Like I just now, for me, I feel like it's 81 00:03:56,000 --> 00:03:59,160 Speaker 4: that countdown to Christmas. Yeah, where I'm like, okay, cool, 82 00:03:59,200 --> 00:04:01,520 Speaker 4: Like I know that the Christmas break is coming and 83 00:04:01,560 --> 00:04:04,480 Speaker 4: I'll be off from this particular date. I've booked in 84 00:04:04,520 --> 00:04:07,240 Speaker 4: the work Christmas party, and Kiara and I are like 85 00:04:07,560 --> 00:04:09,600 Speaker 4: working out what we do this year for it. So 86 00:04:09,600 --> 00:04:12,840 Speaker 4: if you've got any good suggestions for like fun things 87 00:04:12,880 --> 00:04:16,279 Speaker 4: that we could do at our work Christmas party. Please 88 00:04:16,320 --> 00:04:18,760 Speaker 4: slide into my DMS and let me know because I'm 89 00:04:18,800 --> 00:04:21,279 Speaker 4: trying to be creative. Yeah, and like, just for a 90 00:04:21,320 --> 00:04:25,479 Speaker 4: little bit of context, last year, yes, we did a 91 00:04:25,480 --> 00:04:26,200 Speaker 4: pass the parcel. 92 00:04:26,400 --> 00:04:28,200 Speaker 5: I was just gonna say, bring back the jelly Cat 93 00:04:28,240 --> 00:04:30,239 Speaker 5: past the parcel that was brilliant or a Sunny Angel 94 00:04:30,279 --> 00:04:31,040 Speaker 5: past the parcel. 95 00:04:31,160 --> 00:04:33,680 Speaker 4: Yeah, but the Sunny Angels is not as exciting as 96 00:04:33,680 --> 00:04:35,280 Speaker 4: a jelly Cat. But then also, do you want to 97 00:04:35,320 --> 00:04:37,200 Speaker 4: do the same thing every year? And like one of 98 00:04:37,279 --> 00:04:39,320 Speaker 4: my favorite parts of that was you guys didn't know 99 00:04:39,360 --> 00:04:41,680 Speaker 4: that was coming. Yeah, So it was like I pull 100 00:04:41,720 --> 00:04:43,440 Speaker 4: out a pass the parcel and you guys are what's 101 00:04:43,520 --> 00:04:45,200 Speaker 4: going on? And I was like, we're playing past the 102 00:04:45,200 --> 00:04:47,240 Speaker 4: parcel and everyone was so excited, and then it was 103 00:04:47,279 --> 00:04:50,679 Speaker 4: like layer after layer, we just didn't know what was next. 104 00:04:50,680 --> 00:04:53,960 Speaker 4: Like if I do it again, the anticipation blown. 105 00:04:54,160 --> 00:04:55,840 Speaker 5: I see you want the shock factor. 106 00:04:55,920 --> 00:04:58,560 Speaker 4: So we're going out for a bougie lunch together, yes, 107 00:04:58,880 --> 00:05:02,440 Speaker 4: and just flex it'll be on work hours, as it 108 00:05:02,480 --> 00:05:05,640 Speaker 4: should be. We always do a lunch on a Friday 109 00:05:05,880 --> 00:05:08,719 Speaker 4: during work hours because sorry, nobody wants to go to 110 00:05:08,720 --> 00:05:11,640 Speaker 4: your Christmas party after hours, especially on a Friday when 111 00:05:11,640 --> 00:05:15,839 Speaker 4: they probably have Christmas shopping, family commitments, friends, drinks because 112 00:05:15,839 --> 00:05:17,320 Speaker 4: like you know what happens at the end of the year. 113 00:05:17,600 --> 00:05:18,560 Speaker 5: Everyone gets busy. 114 00:05:18,760 --> 00:05:21,480 Speaker 4: No, everybody wants to finally catch up because they've been like, 115 00:05:21,520 --> 00:05:22,960 Speaker 4: oh my god, yess, I haven't seen you all year. 116 00:05:23,000 --> 00:05:25,919 Speaker 4: We have to do drinks before Christmas? No we don't. 117 00:05:26,279 --> 00:05:29,160 Speaker 5: Yeah, it's very conscientious. We love a conscientious queen. 118 00:05:29,360 --> 00:05:31,960 Speaker 4: I love that. But I also am booked and busy, 119 00:05:32,000 --> 00:05:35,440 Speaker 4: you know anyway, so I want your Christmas ideas. That's 120 00:05:35,480 --> 00:05:37,120 Speaker 4: all I've been thinking about this week. 121 00:05:37,440 --> 00:05:39,640 Speaker 5: The Christmas things are out at the shop. It's very exciting. 122 00:05:39,760 --> 00:05:42,040 Speaker 4: It is very exciting. I mean they've been out since 123 00:05:42,040 --> 00:05:44,839 Speaker 4: what August. Like I feel like they jump the gun 124 00:05:44,920 --> 00:05:47,200 Speaker 4: every single year. But every single year I say the 125 00:05:47,240 --> 00:05:49,960 Speaker 4: same thing, and then every single year I am like, oh, 126 00:05:50,000 --> 00:05:51,920 Speaker 4: I need to get some new Christmas decorations and they're 127 00:05:51,920 --> 00:05:52,520 Speaker 4: all sold out. 128 00:05:52,640 --> 00:05:52,839 Speaker 2: Yeah. 129 00:05:53,240 --> 00:05:56,400 Speaker 5: Yeah, they get you every time. Every time give a 130 00:05:56,440 --> 00:05:57,960 Speaker 5: five star. Have you to share with us this week? 131 00:05:58,000 --> 00:06:00,359 Speaker 4: I do? I do. Would you like to hear it? 132 00:06:00,400 --> 00:06:01,000 Speaker 5: Absolutely? 133 00:06:01,080 --> 00:06:02,279 Speaker 4: This is from k Town. 134 00:06:03,279 --> 00:06:03,520 Speaker 5: Oh. 135 00:06:03,839 --> 00:06:06,360 Speaker 4: There's a lot of ends on the interview, and I 136 00:06:06,400 --> 00:06:09,760 Speaker 4: feel like that was the only appropriate way to introduce them, 137 00:06:09,800 --> 00:06:13,640 Speaker 4: they said five stars, inspired and encouraged. I started listening 138 00:06:13,680 --> 00:06:15,720 Speaker 4: to She's on the Money when I was struggling in 139 00:06:15,760 --> 00:06:20,320 Speaker 4: the thick of postpartum and struggling financially. I love listening 140 00:06:20,360 --> 00:06:22,680 Speaker 4: to Money Diaries and the Friday Apps because they make 141 00:06:22,720 --> 00:06:25,359 Speaker 4: me feel seen and inspired, that things won't be like 142 00:06:25,400 --> 00:06:28,440 Speaker 4: this forever, and small amounts and little changes can snowball. 143 00:06:28,839 --> 00:06:31,560 Speaker 4: The three girls are a great mix of personalities, and 144 00:06:31,640 --> 00:06:34,560 Speaker 4: I always leave feeling pumped up. Thank you. 145 00:06:34,920 --> 00:06:38,960 Speaker 5: Oh that's so lovely. I hope that you little Bubba 146 00:06:38,960 --> 00:06:39,800 Speaker 5: are doing really well. 147 00:06:39,920 --> 00:06:43,919 Speaker 4: Oh my god. And like the postpartum mix is just 148 00:06:44,120 --> 00:06:45,960 Speaker 4: so challenging. 149 00:06:46,200 --> 00:06:49,320 Speaker 5: Yeah, big chaos energy too, between the hormones and the 150 00:06:49,360 --> 00:06:51,520 Speaker 5: adapting and the like a lot. 151 00:06:51,640 --> 00:06:53,960 Speaker 4: I feel like there's such a priority on Like when 152 00:06:54,000 --> 00:06:56,400 Speaker 4: you're pregnant, people are so much like, oh my god, 153 00:06:56,400 --> 00:06:58,560 Speaker 4: I'm so excited for when the baby arrives, and like 154 00:06:58,800 --> 00:07:02,320 Speaker 4: you're just in the thick of planning the birth that 155 00:07:02,440 --> 00:07:05,280 Speaker 4: you forget that like those twelve weeks after and like 156 00:07:05,600 --> 00:07:09,359 Speaker 4: that chaos is literally chaos. Yeah, So you know, I 157 00:07:09,360 --> 00:07:12,360 Speaker 4: guess that's my advice if you're planning on postpartum. Let's 158 00:07:12,400 --> 00:07:14,960 Speaker 4: like properly plan I would say, the first twenty weeks 159 00:07:14,960 --> 00:07:18,320 Speaker 4: of that baby's life. Wow, like to make your life easy. 160 00:07:18,680 --> 00:07:22,280 Speaker 4: Speaking of easy and good and fun, Mistress Agricci, when 161 00:07:22,320 --> 00:07:24,480 Speaker 4: it comes to favorite money wins and confessions, what have 162 00:07:24,560 --> 00:07:25,840 Speaker 4: you picked out for the week? 163 00:07:26,040 --> 00:07:28,000 Speaker 5: Alrighty, first of this week, I've got money in from 164 00:07:28,000 --> 00:07:30,760 Speaker 5: Emily who said money whin. I do online delivery from 165 00:07:30,800 --> 00:07:34,320 Speaker 5: Coals and they had a two extra boxes of apples 166 00:07:34,400 --> 00:07:36,080 Speaker 5: and a four pack of burgers that they didn't order. 167 00:07:36,760 --> 00:07:39,000 Speaker 5: I just love the thought of opening online delivery and 168 00:07:39,000 --> 00:07:41,320 Speaker 5: be like, wow, I did not of this, but I'll 169 00:07:41,360 --> 00:07:41,720 Speaker 5: take it. 170 00:07:41,840 --> 00:07:43,680 Speaker 4: I saw a TikTok the other day, which I feel 171 00:07:43,680 --> 00:07:45,800 Speaker 4: like I do all the time, of someone being like 172 00:07:46,320 --> 00:07:49,400 Speaker 4: walking past the girl doing the click and collect orders 173 00:07:49,440 --> 00:07:52,440 Speaker 4: and she like threw in a bag of caramels and 174 00:07:52,480 --> 00:07:54,920 Speaker 4: she's like you're welcome. She didn't work it like woolli's 175 00:07:55,000 --> 00:07:57,360 Speaker 4: or whatever. Yeah, she was just like adding random stuff 176 00:07:57,400 --> 00:07:59,960 Speaker 4: to people's bags. So maybe that's how this stuff happened. 177 00:08:00,400 --> 00:08:01,920 Speaker 5: Ah, not all heroes wear capes. 178 00:08:02,040 --> 00:08:03,880 Speaker 4: Yeah, so someone ended up with a twelve pack of 179 00:08:03,920 --> 00:08:05,360 Speaker 4: karramel like q walas and I'd be like I would 180 00:08:05,400 --> 00:08:06,240 Speaker 4: be stoked with. 181 00:08:06,160 --> 00:08:09,000 Speaker 5: That, absolutely. Next, I've got a money in from Kelly, 182 00:08:09,000 --> 00:08:11,280 Speaker 5: who said she donated some old clothes to Vinnie's and 183 00:08:11,400 --> 00:08:14,559 Speaker 5: while she was there found a fifteen dollar learning tower 184 00:08:14,680 --> 00:08:18,640 Speaker 5: in perfect condition and a thirty dollars indoor gym set, 185 00:08:18,920 --> 00:08:21,360 Speaker 5: so her and her friends toddler are all set. 186 00:08:21,520 --> 00:08:24,480 Speaker 4: I'm actually really envious the learning towers are so expensive. 187 00:08:24,640 --> 00:08:25,480 Speaker 5: What's a learning tower? 188 00:08:25,520 --> 00:08:28,560 Speaker 4: So the you know what this is. It's the little 189 00:08:28,640 --> 00:08:31,720 Speaker 4: step stool that little kids have in the kitchen that 190 00:08:31,840 --> 00:08:34,240 Speaker 4: kind of keeps them contained so they can kind of 191 00:08:34,280 --> 00:08:36,839 Speaker 4: like climb up and be at the bench height. But 192 00:08:36,920 --> 00:08:39,320 Speaker 4: they're hundreds of dollars, are they? Yes? 193 00:08:39,440 --> 00:08:41,960 Speaker 5: Why is everything for kids so expensive? Oh, don't get 194 00:08:41,960 --> 00:08:44,600 Speaker 5: me started too, all right. Next, I've got a money 195 00:08:44,600 --> 00:08:48,400 Speaker 5: win from Alisha, who said she bought a shower filter 196 00:08:48,440 --> 00:08:51,400 Speaker 5: twelve months ago, noticed it was chipping internally and emailed 197 00:08:51,400 --> 00:08:53,280 Speaker 5: the company to see if that was normal. She said 198 00:08:53,320 --> 00:08:55,000 Speaker 5: it didn't really feel right to have a shower filter 199 00:08:55,080 --> 00:08:57,800 Speaker 5: if it was just going to be leaking plastic particles anyway. 200 00:08:58,120 --> 00:09:00,959 Speaker 5: They responded and immediately sent out a new shower filter 201 00:09:01,160 --> 00:09:01,760 Speaker 5: for free. 202 00:09:01,800 --> 00:09:02,839 Speaker 4: That is a good deal. 203 00:09:03,120 --> 00:09:05,920 Speaker 5: Yeah, it pays to follow up when something's not working. Next, 204 00:09:05,960 --> 00:09:08,319 Speaker 5: I've got a money lost from Alicia. She said her 205 00:09:08,320 --> 00:09:12,120 Speaker 5: cat had a urinary blockage and spent the weekend in emergency. 206 00:09:12,440 --> 00:09:15,280 Speaker 5: It cost her over six thousand dollars, but she still 207 00:09:15,280 --> 00:09:17,640 Speaker 5: has her beautiful little boy, and she says she really 208 00:09:17,679 --> 00:09:20,880 Speaker 5: can't complain or put a price on love. She's very 209 00:09:20,920 --> 00:09:22,680 Speaker 5: grateful that they had the money to pay for it, 210 00:09:22,720 --> 00:09:24,360 Speaker 5: as they know, for a lot of people, it would 211 00:09:24,360 --> 00:09:27,160 Speaker 5: have been a very difficult decision to look at She 212 00:09:27,240 --> 00:09:30,000 Speaker 5: to provide a pet tax photo of too beautiful. 213 00:09:29,880 --> 00:09:32,360 Speaker 4: Babies, Oh, that would actually kill me. 214 00:09:32,600 --> 00:09:34,040 Speaker 5: I know. I just want to say, Oh, I hope 215 00:09:34,040 --> 00:09:36,320 Speaker 5: that they're doing a kay Leisha. Also, my cat had 216 00:09:36,400 --> 00:09:38,199 Speaker 5: urinary issues at start of the yard and if you 217 00:09:38,520 --> 00:09:40,600 Speaker 5: probably told you, but if they didn't, you can put 218 00:09:40,600 --> 00:09:44,320 Speaker 5: them on a special prescription diet that prevents that in 219 00:09:44,400 --> 00:09:45,480 Speaker 5: future or can help prevent that. 220 00:09:45,640 --> 00:09:48,480 Speaker 4: Oh my god, cats are so expensive. Ah they are. 221 00:09:48,679 --> 00:09:51,160 Speaker 4: And the anxiety I have over one of my specific 222 00:09:51,200 --> 00:09:55,880 Speaker 4: cats just because he's like old. Yeah, like Bailey is sixteen? Yeah, 223 00:09:55,920 --> 00:09:56,760 Speaker 4: what do you mean? 224 00:09:57,640 --> 00:09:58,880 Speaker 5: Sweet little angels? Oh? 225 00:09:59,160 --> 00:10:00,880 Speaker 4: And you may move on. I need another money win. 226 00:10:01,280 --> 00:10:02,920 Speaker 5: And lastly, we spoke about this last week, what have 227 00:10:02,920 --> 00:10:04,679 Speaker 5: any coincidentce But I've got money win from Kiro who 228 00:10:04,720 --> 00:10:06,640 Speaker 5: said she came back from the city after two years 229 00:10:06,720 --> 00:10:10,240 Speaker 5: of working really discuptured fifteen dollars on her Zaphro's membership 230 00:10:10,280 --> 00:10:11,640 Speaker 5: card and a free birthday drink. 231 00:10:12,000 --> 00:10:14,600 Speaker 4: Money win. I feel like she maybe has been spamming 232 00:10:14,600 --> 00:10:19,760 Speaker 4: that everywhere in our group. Yeah, familiar, check your accounts, 233 00:10:19,920 --> 00:10:22,840 Speaker 4: like if you have any type of loyalty, yeah, go 234 00:10:23,240 --> 00:10:25,160 Speaker 4: make them pay their loyalty tax to you. 235 00:10:25,320 --> 00:10:27,720 Speaker 5: Absolutely, you might as well got to lose, all. 236 00:10:27,679 --> 00:10:30,160 Speaker 4: Right, I have to do Beck segment justice. So you 237 00:10:30,400 --> 00:10:32,920 Speaker 4: ready for some very very good broke teas? 238 00:10:32,960 --> 00:10:33,080 Speaker 2: Oh? 239 00:10:33,120 --> 00:10:35,679 Speaker 4: Absolutely? Okay, So the first one we've got, and I've 240 00:10:35,679 --> 00:10:39,080 Speaker 4: gone with a theme this week tech. Okay, right, So 241 00:10:39,160 --> 00:10:43,559 Speaker 4: this one is from Madison. She says, circular economy for kids' clothes. 242 00:10:43,920 --> 00:10:47,240 Speaker 4: I got so overspending money on cheap clothes like Camar 243 00:10:47,320 --> 00:10:50,120 Speaker 4: and Big w only for them to be completely destroyed 244 00:10:50,160 --> 00:10:53,360 Speaker 4: after a few washes or stretched out of shape. Now 245 00:10:53,480 --> 00:10:57,760 Speaker 4: I buy secondhand bundles from Facebook Marketplace or different Facebook 246 00:10:57,760 --> 00:11:01,360 Speaker 4: groups in gorgeous brands like Country and Seed. When I 247 00:11:01,400 --> 00:11:04,960 Speaker 4: purchased bundles of good quality clothes, they last through normal 248 00:11:05,160 --> 00:11:08,520 Speaker 4: wash and wear so much better. And when the little 249 00:11:08,559 --> 00:11:10,760 Speaker 4: ones grow out of them, I can just bundle them 250 00:11:10,760 --> 00:11:12,680 Speaker 4: back up and sell them for the same price I 251 00:11:12,800 --> 00:11:15,920 Speaker 4: paid most of the time. So I'm dressing my kids 252 00:11:15,920 --> 00:11:18,120 Speaker 4: well and I am doing it for free. 253 00:11:18,400 --> 00:11:18,920 Speaker 5: Genius. 254 00:11:19,120 --> 00:11:22,520 Speaker 4: My tech like theme that was Facebook Marketplace was on 255 00:11:22,520 --> 00:11:25,200 Speaker 4: the internet. I was thinking, Okay, that makes sense, and 256 00:11:25,240 --> 00:11:27,439 Speaker 4: I feel like for the stretch, but the next two 257 00:11:27,520 --> 00:11:29,599 Speaker 4: might make more sense in that theme. Yeah, well, I 258 00:11:29,600 --> 00:11:31,199 Speaker 4: feel like for parents, it's like, you don't want to 259 00:11:31,240 --> 00:11:33,960 Speaker 4: individually list twenty different little kids tops, but like if 260 00:11:33,960 --> 00:11:36,719 Speaker 4: you do it in a bundle, so easy, so good, yea, 261 00:11:36,920 --> 00:11:41,840 Speaker 4: so good. And also I find it really hard picking outfits. 262 00:11:41,880 --> 00:11:43,560 Speaker 4: I'm like, oh, I'll get another top few and then 263 00:11:43,600 --> 00:11:45,439 Speaker 4: I don't like anything else in the store. If someone 264 00:11:45,520 --> 00:11:48,600 Speaker 4: like curated a little collection of cute tops, especially once, 265 00:11:48,640 --> 00:11:51,240 Speaker 4: I could put my kid in for daycare money win. 266 00:11:51,520 --> 00:11:51,840 Speaker 5: Yeah. 267 00:11:51,880 --> 00:11:54,720 Speaker 4: All right, So the next one is from Simone. She says, 268 00:11:54,760 --> 00:11:57,520 Speaker 4: my husband and I had a bit of financial trouble recently, 269 00:11:57,800 --> 00:12:00,360 Speaker 4: but he remembered that last year when he up graded 270 00:12:00,400 --> 00:12:03,040 Speaker 4: his phone, he put his old one away in the 271 00:12:03,080 --> 00:12:06,000 Speaker 4: original box. So he decided to go to a cash 272 00:12:06,040 --> 00:12:07,920 Speaker 4: Converters type shop to see if he could sell this 273 00:12:08,000 --> 00:12:10,480 Speaker 4: old phone because he kept it in the original box, 274 00:12:10,760 --> 00:12:13,520 Speaker 4: the phone was in good condition, and even the original 275 00:12:13,640 --> 00:12:16,480 Speaker 4: charger was in there. We actually got a fair bit 276 00:12:16,520 --> 00:12:18,880 Speaker 4: of money for it. I always told him to get 277 00:12:18,960 --> 00:12:21,160 Speaker 4: rid of the packaging, but it ended up working out 278 00:12:21,160 --> 00:12:24,240 Speaker 4: in our favor this time. I never realized how important 279 00:12:24,320 --> 00:12:27,079 Speaker 4: that packaging would be if you're trying to sell something. 280 00:12:27,440 --> 00:12:29,560 Speaker 5: There, Go, that's very true. I guess when you're looking 281 00:12:29,559 --> 00:12:31,920 Speaker 5: to buy something, it's always appealing to go, Oh it's 282 00:12:31,920 --> 00:12:34,200 Speaker 5: brand or or it's on the box, or with the 283 00:12:34,200 --> 00:12:35,400 Speaker 5: instructions or whatever. 284 00:12:35,240 --> 00:12:37,720 Speaker 4: Tells me it's like more looked after. Yeah, like you 285 00:12:37,840 --> 00:12:40,800 Speaker 4: clearly cared. I am the worst at throwing literally every 286 00:12:40,800 --> 00:12:43,600 Speaker 4: single box under the sun out, so that wouldn't work 287 00:12:43,600 --> 00:12:45,280 Speaker 4: for me. But like Jess, I know you're a low 288 00:12:45,360 --> 00:12:47,439 Speaker 4: key hoarder, so you probably have the first box from 289 00:12:47,440 --> 00:12:49,080 Speaker 4: your first iPod from high school. 290 00:12:49,120 --> 00:12:50,880 Speaker 5: I literally went through I like it's just a big 291 00:12:50,920 --> 00:12:52,640 Speaker 5: old basket of tech stuff, and I was like, oh, 292 00:12:52,720 --> 00:12:55,480 Speaker 5: I probably don't need these six iPhone boxes that I'm 293 00:12:55,480 --> 00:12:58,240 Speaker 5: doing absolutely nothing with. Probably don't even have the phones anymore. 294 00:12:58,280 --> 00:12:59,640 Speaker 5: I just kept them for no, Greason. 295 00:12:59,679 --> 00:13:01,360 Speaker 4: See, I don't have the boxes, but I have my 296 00:13:01,400 --> 00:13:02,880 Speaker 4: hot pink Motorola raser. 297 00:13:03,040 --> 00:13:04,040 Speaker 5: Oh that's such a flat. 298 00:13:04,200 --> 00:13:06,200 Speaker 4: She doesn't turn on. But I don't need her to. 299 00:13:06,600 --> 00:13:08,679 Speaker 5: I really want to get like a flip phone. Bring 300 00:13:08,720 --> 00:13:09,440 Speaker 5: back the flip phone. 301 00:13:09,480 --> 00:13:10,640 Speaker 4: Oh, I've got one for you at home. 302 00:13:11,160 --> 00:13:13,280 Speaker 5: If I could key that to work off my phone? 303 00:13:13,360 --> 00:13:16,040 Speaker 5: Catch me taking business calls off my Motorola pink one. 304 00:13:16,320 --> 00:13:18,280 Speaker 4: Stop it. How do we get this turning back on? 305 00:13:18,360 --> 00:13:20,960 Speaker 4: I don't know if I own the charger. We should try. 306 00:13:21,040 --> 00:13:21,720 Speaker 5: We'll figure it out. 307 00:13:21,720 --> 00:13:23,160 Speaker 4: Oh my god, it could become the shees on the 308 00:13:23,160 --> 00:13:25,040 Speaker 4: money phone and when you call, that's who you're calling. 309 00:13:25,120 --> 00:13:25,880 Speaker 5: That would be really cool. 310 00:13:25,960 --> 00:13:27,800 Speaker 4: Yeah, we'll put it on the table in the office. 311 00:13:27,920 --> 00:13:29,080 Speaker 4: I get to answer first though. 312 00:13:29,160 --> 00:13:30,560 Speaker 5: Okay, that seems fair. All right. 313 00:13:30,840 --> 00:13:33,600 Speaker 4: Next and last one, I've got on my tech theme 314 00:13:34,080 --> 00:13:36,680 Speaker 4: I tried. I'll give Beck her slot back soon, I promise. 315 00:13:37,320 --> 00:13:41,040 Speaker 4: Is from Ebony, she says, out of warranty repairs. Instead 316 00:13:41,080 --> 00:13:44,360 Speaker 4: of buying a new Garmin watch for five hundred dollars plus, 317 00:13:44,720 --> 00:13:48,120 Speaker 4: Garman offered that they swapped my broken watch with a 318 00:13:48,160 --> 00:13:51,760 Speaker 4: refurbished one the ninety three dollars. This is for a 319 00:13:51,880 --> 00:13:54,640 Speaker 4: six year old watch and the new one has a 320 00:13:54,640 --> 00:13:55,480 Speaker 4: two year warranty. 321 00:13:55,760 --> 00:13:58,000 Speaker 5: That's so good. That's great, customer sir, feel like. 322 00:13:57,960 --> 00:13:59,319 Speaker 4: That is a very good deal. 323 00:14:00,440 --> 00:14:03,160 Speaker 5: Stuff too if you're getting it from the like I 324 00:14:03,200 --> 00:14:06,440 Speaker 5: know that Apple does refurbished iPads and iPhones and stuff like. 325 00:14:06,480 --> 00:14:08,480 Speaker 5: It's coming from the people that make it, do you 326 00:14:08,559 --> 00:14:10,240 Speaker 5: know what I mean? Like, I think they're replacing it with 327 00:14:10,320 --> 00:14:13,480 Speaker 5: new parts. Yeah, yeah, surely that's on the up and 328 00:14:13,559 --> 00:14:14,240 Speaker 5: up and all good. 329 00:14:14,559 --> 00:14:16,600 Speaker 4: Yeah, absolutely, all right. Let's go to a really quick 330 00:14:16,640 --> 00:14:18,319 Speaker 4: break on the flip side. We're going to be talking 331 00:14:18,320 --> 00:14:20,600 Speaker 4: about what actually happens when you give your kids a 332 00:14:20,680 --> 00:14:23,720 Speaker 4: large gift of money. We're just actively looking at my 333 00:14:23,840 --> 00:14:26,000 Speaker 4: parents here. If you want to gift us a lot 334 00:14:26,000 --> 00:14:28,920 Speaker 4: of money, I wouldn't be mad. And something that you 335 00:14:28,960 --> 00:14:32,320 Speaker 4: slid into our dms about this week buying a house 336 00:14:32,360 --> 00:14:34,320 Speaker 4: with a partner when there's a really big difference in 337 00:14:34,360 --> 00:14:38,000 Speaker 4: the amount of deposit that you both contribute. So guys, 338 00:14:38,080 --> 00:14:39,160 Speaker 4: don't go anywhere. 339 00:14:43,120 --> 00:14:45,800 Speaker 5: Welcome back, everybody. Let's take a listen to this week's 340 00:14:45,880 --> 00:14:46,840 Speaker 5: money dilemma. 341 00:14:48,920 --> 00:14:51,280 Speaker 6: Hi, there, have you got a money dilemma you just 342 00:14:51,320 --> 00:14:53,840 Speaker 6: can't solve? The Sheese on the Money team is here 343 00:14:53,880 --> 00:14:57,120 Speaker 6: to help. Every week, we tackle your dilemmas, both big 344 00:14:57,160 --> 00:14:59,840 Speaker 6: and small, to answer your most burning money, career, and 345 00:14:59,880 --> 00:15:03,120 Speaker 6: life questions. To get involved, simply head to our website 346 00:15:03,160 --> 00:15:05,280 Speaker 6: and leave us a short voice recording and you might 347 00:15:05,320 --> 00:15:07,880 Speaker 6: just find yourself on the show. Now, let's take a 348 00:15:07,920 --> 00:15:11,080 Speaker 6: listen to this week's money dilemma. 349 00:15:12,480 --> 00:15:15,080 Speaker 2: Hi, she's on the money. Me and my partner have 350 00:15:15,240 --> 00:15:18,520 Speaker 2: been putting money away for our kids since they were born, 351 00:15:19,280 --> 00:15:23,160 Speaker 2: and we recently transferred that out of their own accounts 352 00:15:23,200 --> 00:15:26,640 Speaker 2: and into an offset account for our mortgage, which has 353 00:15:26,680 --> 00:15:29,800 Speaker 2: been helping us to pay off the mortgage. My question 354 00:15:29,920 --> 00:15:32,440 Speaker 2: relates to when they get to an age where we 355 00:15:32,480 --> 00:15:37,400 Speaker 2: want to give them the money back. How do we 356 00:15:37,440 --> 00:15:40,640 Speaker 2: go about that? Because we've putt the money aside for them, 357 00:15:41,200 --> 00:15:44,520 Speaker 2: but I'm aware of the gifting rules of I think 358 00:15:44,520 --> 00:15:46,920 Speaker 2: it's ten thousand dollars a year, so I'm not quite 359 00:15:46,920 --> 00:15:48,800 Speaker 2: sure if we can just give them the money back. 360 00:15:48,920 --> 00:15:51,200 Speaker 2: I'd love you to explain this to us. Thank you. 361 00:15:51,480 --> 00:15:53,680 Speaker 5: What do you reckon, Jess, I'll be honest, I don't 362 00:15:53,720 --> 00:15:56,680 Speaker 5: know much about it. Very exciting congratulations and saying that that's 363 00:15:56,720 --> 00:15:59,640 Speaker 5: so fantastic that you're doing that for them. The only 364 00:15:59,680 --> 00:16:01,400 Speaker 5: thing I can think of is that you would set 365 00:16:01,480 --> 00:16:03,760 Speaker 5: up the account in their name from the beginning, because 366 00:16:03,800 --> 00:16:06,240 Speaker 5: children can hold bank accounts, it just has to be 367 00:16:06,280 --> 00:16:09,000 Speaker 5: like co signed or however that works with a parent. 368 00:16:09,760 --> 00:16:12,200 Speaker 5: But then, obviously if you were to do that, it 369 00:16:12,240 --> 00:16:14,440 Speaker 5: would not be offsetting your mortgage, which I know is 370 00:16:14,440 --> 00:16:18,000 Speaker 5: obviously a very appealing thing. I don't know that there 371 00:16:18,000 --> 00:16:20,840 Speaker 5: would be a way around them having to pay tax 372 00:16:20,920 --> 00:16:24,920 Speaker 5: on receiving it unless you run it through a trust 373 00:16:25,040 --> 00:16:26,840 Speaker 5: or something like that. But then again, like it's not 374 00:16:27,280 --> 00:16:30,000 Speaker 5: sitting in your offset, I've got no idea. I think 375 00:16:30,000 --> 00:16:31,800 Speaker 5: I'm just gonna handle it to the finance person. 376 00:16:32,200 --> 00:16:36,120 Speaker 4: Okay, I'll take the wheel. Not because I want to, yes, 377 00:16:36,160 --> 00:16:38,800 Speaker 4: I do want to. Got so much on this, so 378 00:16:39,200 --> 00:16:42,600 Speaker 4: saving few kids is fantastic. Obviously you're putting it in 379 00:16:42,640 --> 00:16:44,880 Speaker 4: your offset, and you're making that money work as hard 380 00:16:44,920 --> 00:16:47,360 Speaker 4: as you do. The other thing I would say is 381 00:16:47,480 --> 00:16:50,680 Speaker 4: most parents, when they are saving money for their children, 382 00:16:50,760 --> 00:16:53,480 Speaker 4: they wait until their kids are eighteen years and over 383 00:16:53,840 --> 00:16:56,560 Speaker 4: to then actually give them access to that money, which, 384 00:16:56,600 --> 00:16:59,760 Speaker 4: for a lot of reasons tax mainly makes the most 385 00:16:59,760 --> 00:17:03,760 Speaker 4: sense also their adults, but Also, you've got eighteen years 386 00:17:03,800 --> 00:17:06,040 Speaker 4: of compounding that you're missing out on. Can we maybe 387 00:17:06,080 --> 00:17:08,440 Speaker 4: have a talk about the opportunity and what it might 388 00:17:08,560 --> 00:17:11,200 Speaker 4: look like to invest. So you've got lots of time. 389 00:17:11,320 --> 00:17:13,359 Speaker 4: There's lots of episodes on investing for kids that I 390 00:17:13,400 --> 00:17:16,760 Speaker 4: would love to direct you towards. But what happens logically 391 00:17:16,800 --> 00:17:19,520 Speaker 4: when you gift that money to your child? Okay, so 392 00:17:19,640 --> 00:17:22,520 Speaker 4: first things first, if you gift it to them outright 393 00:17:22,600 --> 00:17:25,760 Speaker 4: and they are over the age of eighteen here in Australia, 394 00:17:25,840 --> 00:17:30,359 Speaker 4: there is no gift tax payable. The caveat on that though, 395 00:17:30,600 --> 00:17:33,560 Speaker 4: is if you are on benefits, So if you are 396 00:17:33,560 --> 00:17:37,159 Speaker 4: on centilink, that's where that ten thousand dollar rule comes 397 00:17:37,200 --> 00:17:41,200 Speaker 4: into play. So if you're on Centilink, gifting more than 398 00:17:41,280 --> 00:17:44,639 Speaker 4: ten thousand dollars in one financial year or thirty thousand 399 00:17:44,680 --> 00:17:49,760 Speaker 4: dollars over five years might actually affect your entitlements because 400 00:17:49,760 --> 00:17:53,560 Speaker 4: it's treated as deprived assets. That doesn't matter so much 401 00:17:53,560 --> 00:17:55,280 Speaker 4: to you. But if you are on sent link, that's 402 00:17:55,320 --> 00:17:58,280 Speaker 4: when we would be careful. Also being careful if your 403 00:17:58,359 --> 00:18:00,919 Speaker 4: child has gone away and does like oz study or 404 00:18:00,920 --> 00:18:03,560 Speaker 4: something and they're getting some benefit that way, you don't 405 00:18:03,560 --> 00:18:05,080 Speaker 4: want to shoot them in the foot and have all 406 00:18:05,119 --> 00:18:07,840 Speaker 4: of their benefits taken away because you're trying to help 407 00:18:07,880 --> 00:18:11,560 Speaker 4: them as well with just being smart and strategic. If 408 00:18:11,560 --> 00:18:15,080 Speaker 4: that money gets invested, any capital gains tax or CGT 409 00:18:15,359 --> 00:18:19,680 Speaker 4: actually applies to ever owned the asset at the time 410 00:18:19,680 --> 00:18:23,080 Speaker 4: of the sale, i e. Your parents, So the kid 411 00:18:23,119 --> 00:18:25,720 Speaker 4: isn't going to necessarily get taxed because you would just 412 00:18:25,760 --> 00:18:28,920 Speaker 4: be gifting it to them, But you would be taxed, Jess, 413 00:18:28,960 --> 00:18:33,159 Speaker 4: because you saved that money. You're now paying tax on 414 00:18:33,200 --> 00:18:36,680 Speaker 4: the amount of money that you earned you or maybe 415 00:18:36,840 --> 00:18:41,560 Speaker 4: later them if it's an investment and it gets transferred, etc. Etc. 416 00:18:41,880 --> 00:18:44,240 Speaker 4: The best advice I have here is talk to your accountant. 417 00:18:44,359 --> 00:18:46,680 Speaker 4: But those are the rules. So no, you can gift 418 00:18:46,680 --> 00:18:49,320 Speaker 4: it to them once they turn eighteen tax free, no 419 00:18:49,440 --> 00:18:51,920 Speaker 4: worries because you actually already paid tax on that you've 420 00:18:51,960 --> 00:18:55,000 Speaker 4: basically just been holding it. But the sticky thing is 421 00:18:55,040 --> 00:18:57,720 Speaker 4: when you have sent link getting involved and you've got 422 00:18:57,720 --> 00:19:00,320 Speaker 4: that ten thousand dollars or the five years slash thirty 423 00:19:00,440 --> 00:19:03,199 Speaker 4: thousand dollars cap. Okay, there you go, So it's not 424 00:19:03,240 --> 00:19:07,440 Speaker 4: as complex as you think it is. And also to clarify, 425 00:19:07,640 --> 00:19:10,000 Speaker 4: CGT doesn't mean oh, you've had all of this money 426 00:19:10,080 --> 00:19:14,000 Speaker 4: sitting there. You only ever pay capital gains tax on 427 00:19:14,080 --> 00:19:17,240 Speaker 4: the money that the money earned, so on the interest. 428 00:19:17,640 --> 00:19:19,800 Speaker 4: So it's not like let's say you saved ten thousand 429 00:19:19,840 --> 00:19:22,280 Speaker 4: dollars and then you know you made one thousand dollars, 430 00:19:22,320 --> 00:19:24,719 Speaker 4: because that's a ten percent return, you'd only pay capital 431 00:19:24,720 --> 00:19:27,440 Speaker 4: gains tax on that thousand dollars. And if you owned 432 00:19:27,520 --> 00:19:30,439 Speaker 4: that asset for longer than twelve months, you get that 433 00:19:30,480 --> 00:19:33,600 Speaker 4: fifty percent discount on the CGT. So I promise it's 434 00:19:33,600 --> 00:19:38,040 Speaker 4: not nearly as bad. And honestly, your investment returns would 435 00:19:38,160 --> 00:19:41,000 Speaker 4: outweigh what tax you had to pay, so still in 436 00:19:41,040 --> 00:19:42,040 Speaker 4: the wash, come out better. 437 00:19:42,840 --> 00:19:45,440 Speaker 5: Can I ask a question, no, not on this show, 438 00:19:46,000 --> 00:19:48,320 Speaker 5: not allowed an offset account? 439 00:19:48,400 --> 00:19:48,600 Speaker 2: Yes? 440 00:19:48,840 --> 00:19:51,480 Speaker 5: Am I right in assuming that a money kept in 441 00:19:51,520 --> 00:19:54,640 Speaker 5: an offset does not accrue interest because it is off 442 00:19:54,760 --> 00:19:58,200 Speaker 5: setting a mortgage. So if they were to go down 443 00:19:58,200 --> 00:19:59,560 Speaker 5: the route, and we're not saying this is the right 444 00:19:59,600 --> 00:20:02,080 Speaker 5: rabbit something to consider it, if they kept it in 445 00:20:02,119 --> 00:20:06,600 Speaker 5: their offset account, yes, there wouldn't technically be any gains 446 00:20:06,640 --> 00:20:09,080 Speaker 5: to pay CGT, or wouldn't be when they were because 447 00:20:09,080 --> 00:20:12,000 Speaker 5: you're not making money, you're saving money, and this is 448 00:20:12,040 --> 00:20:15,359 Speaker 5: where a conversation around the differences between a redraw and 449 00:20:15,400 --> 00:20:16,480 Speaker 5: an offset come up. 450 00:20:16,800 --> 00:20:18,720 Speaker 4: So people will be like, Oh, what's the difference between 451 00:20:18,720 --> 00:20:21,240 Speaker 4: a redraw and an offset, or what's the difference in 452 00:20:21,440 --> 00:20:23,600 Speaker 4: putting my money in an offset account or a high 453 00:20:23,640 --> 00:20:26,199 Speaker 4: interest savings account. So if you put your money in 454 00:20:26,240 --> 00:20:29,760 Speaker 4: a high interest savings account, and let's pretend the investment 455 00:20:30,160 --> 00:20:32,920 Speaker 4: return or the return on those things are equal. Right, 456 00:20:33,000 --> 00:20:35,119 Speaker 4: Let's let's pretend it's just five percent. So in your 457 00:20:35,200 --> 00:20:37,800 Speaker 4: high interest savings account you're making five percent. That five 458 00:20:37,800 --> 00:20:40,080 Speaker 4: percent is added to your income every single year, and 459 00:20:40,080 --> 00:20:42,080 Speaker 4: you need to pay tax on that. Jess On the 460 00:20:42,080 --> 00:20:45,159 Speaker 4: flip side, you put that money into your offset account 461 00:20:45,240 --> 00:20:48,080 Speaker 4: to offset the interest payable on your mortgage. The bank 462 00:20:48,160 --> 00:20:50,920 Speaker 4: isn't giving you money. They're just going, oh, she's got 463 00:20:50,960 --> 00:20:53,000 Speaker 4: some cash older sitting over there, we're not going to 464 00:20:53,080 --> 00:20:56,440 Speaker 4: charge her as much, so there's no tax payable. Which 465 00:20:56,440 --> 00:20:59,800 Speaker 4: is why I sometimes think it's a little bit like 466 00:21:00,400 --> 00:21:02,560 Speaker 4: silly to have a high interest savings account and a 467 00:21:02,600 --> 00:21:05,040 Speaker 4: mortgage with an offset and then be putting all your 468 00:21:05,040 --> 00:21:07,959 Speaker 4: money in the high interest savings account because you're gonna 469 00:21:07,960 --> 00:21:10,600 Speaker 4: be paying tax on that five percent of income. 470 00:21:10,960 --> 00:21:11,400 Speaker 5: There you go. 471 00:21:11,760 --> 00:21:13,400 Speaker 4: So anyway, that's no thank. 472 00:21:13,200 --> 00:21:16,359 Speaker 5: You sad question. Have we got a juicy DM this week? 473 00:21:16,520 --> 00:21:19,000 Speaker 4: Girl? You know we do. We always have juicy dms, 474 00:21:19,040 --> 00:21:20,919 Speaker 4: and I find one of the hardest parts of my 475 00:21:21,040 --> 00:21:23,840 Speaker 4: jobs is actually picking which one goes on the podcast 476 00:21:23,880 --> 00:21:26,560 Speaker 4: every week. All right, are you ready for this one? 477 00:21:26,560 --> 00:21:29,000 Speaker 4: This week? Let's go hit me high icons. 478 00:21:29,680 --> 00:21:30,880 Speaker 5: Great, start to start great. 479 00:21:31,200 --> 00:21:33,000 Speaker 4: That's how you get on the show. That's how you 480 00:21:33,040 --> 00:21:35,320 Speaker 4: get on the show. My partner and I are buying 481 00:21:35,359 --> 00:21:38,439 Speaker 4: our first home. We currently split everything fifty to fifty, 482 00:21:38,600 --> 00:21:40,760 Speaker 4: but I have way more deposit ready to go than 483 00:21:40,760 --> 00:21:44,119 Speaker 4: he does. We're talking my one hundred and fifty thousand 484 00:21:44,160 --> 00:21:47,400 Speaker 4: dollars saved versus sixty four thousand dollars saved, and we're 485 00:21:47,400 --> 00:21:50,359 Speaker 4: both drawing from the first home super saver a scheme. 486 00:21:50,920 --> 00:21:53,920 Speaker 4: We're both happy to not be fifty to fifty on this. 487 00:21:54,280 --> 00:21:56,440 Speaker 4: Waiting for him to match me does not make sense 488 00:21:56,480 --> 00:21:59,240 Speaker 4: to us, but we are not sure how to reflect 489 00:21:59,280 --> 00:22:02,040 Speaker 4: this in our money. We both want our own home 490 00:22:02,200 --> 00:22:05,159 Speaker 4: fifty to fifty and we'll split expenses accordingly, so a 491 00:22:05,240 --> 00:22:08,960 Speaker 4: different ownership split just doesn't feel right. We're talking about 492 00:22:09,080 --> 00:22:11,760 Speaker 4: him paying me back the extra, but I don't want 493 00:22:11,800 --> 00:22:15,000 Speaker 4: to disadvantage myself in interest or anything else for a 494 00:22:15,040 --> 00:22:18,000 Speaker 4: little bit of extra spice. We're also considering that he 495 00:22:18,080 --> 00:22:20,240 Speaker 4: might be able to throw more cash at that than 496 00:22:20,280 --> 00:22:23,399 Speaker 4: me in five years from now as his income increases. 497 00:22:23,480 --> 00:22:25,400 Speaker 4: I'm so keen to hear your thoughts. 498 00:22:26,560 --> 00:22:32,439 Speaker 5: Very exciting. I think that if it was me, let 499 00:22:32,480 --> 00:22:34,680 Speaker 5: me roll around in my brain for a second, I 500 00:22:34,760 --> 00:22:38,000 Speaker 5: think that I would approach it. I understand not wanting 501 00:22:38,080 --> 00:22:41,960 Speaker 5: to lose out on the like what you're saying, but 502 00:22:42,000 --> 00:22:46,040 Speaker 5: you're technically not actually losing out on interest. So like, 503 00:22:46,119 --> 00:22:47,960 Speaker 5: I assume you would be contributing this one hundred and 504 00:22:47,960 --> 00:22:50,960 Speaker 5: fifty thousand dollars deposit regardless of whether your partner had 505 00:22:51,000 --> 00:22:52,960 Speaker 5: the same amount of money to contribute as you or not. 506 00:22:53,440 --> 00:22:57,639 Speaker 5: So like, in my mind, you're not really losing anything 507 00:22:57,680 --> 00:22:59,520 Speaker 5: out by putting that money in. That's what you were 508 00:22:59,560 --> 00:23:01,719 Speaker 5: always in intending on doing, That's what you've been saving 509 00:23:01,760 --> 00:23:07,400 Speaker 5: it for. So I would treat it personally as just yeah, 510 00:23:07,440 --> 00:23:11,959 Speaker 5: I guess quote unquote alone. So maybe I would reduce 511 00:23:12,040 --> 00:23:15,040 Speaker 5: my mortgage repayments if that's stable. It really depends on too, 512 00:23:15,520 --> 00:23:18,359 Speaker 5: are your deposits. So vastly different because your income's a 513 00:23:18,440 --> 00:23:20,840 Speaker 5: vastly different So are you earning double what your partner's earning, 514 00:23:20,880 --> 00:23:22,760 Speaker 5: so like you have the capacity to save more, And 515 00:23:22,800 --> 00:23:25,080 Speaker 5: that's how it's worked out. Because if so, maybe this 516 00:23:25,119 --> 00:23:27,359 Speaker 5: wouldn't work. But like, if it was me, if it 517 00:23:27,400 --> 00:23:30,440 Speaker 5: was doable, I probably would just say, okay, well i'll 518 00:23:30,480 --> 00:23:34,120 Speaker 5: reduce my mortgage payments you pay slightly more until we've 519 00:23:34,200 --> 00:23:38,960 Speaker 5: evened out that difference. Yeah, or I would consider, yeah, 520 00:23:39,000 --> 00:23:42,320 Speaker 5: a slightly different ownership structure until it's paid off, because 521 00:23:42,320 --> 00:23:45,639 Speaker 5: obviously they would need to pay you back what like 522 00:23:45,760 --> 00:23:48,080 Speaker 5: almost one hundred thousand dollars, like ninety thousand dollars or 523 00:23:48,280 --> 00:23:49,960 Speaker 5: which is a lot of money. Like, I don't think 524 00:23:49,960 --> 00:23:51,439 Speaker 5: that they're going to your partner's going to have that 525 00:23:51,480 --> 00:23:53,960 Speaker 5: suddenly out of nowhere, at least not until, as you said, 526 00:23:53,960 --> 00:23:58,679 Speaker 5: they increase their income significantly. So yeah, potentially, I know 527 00:23:58,760 --> 00:24:01,399 Speaker 5: that it makes sense logically to want to own it 528 00:24:01,480 --> 00:24:04,920 Speaker 5: fifty to fifty, and it makes sense logically to want 529 00:24:05,000 --> 00:24:08,200 Speaker 5: to like split it all fifty to fifty, But could 530 00:24:08,240 --> 00:24:11,800 Speaker 5: you look at having a structure set up whereby the 531 00:24:11,840 --> 00:24:16,159 Speaker 5: difference in contributions doesn't really matter unless God forbid you 532 00:24:16,240 --> 00:24:18,240 Speaker 5: were to break up and sell the house, in which 533 00:24:18,320 --> 00:24:21,760 Speaker 5: case you would both be returned the amount you contributed, 534 00:24:22,200 --> 00:24:25,560 Speaker 5: and then you know, fifty percent of the profits. So 535 00:24:25,640 --> 00:24:28,840 Speaker 5: I speak afterwards, but I don't know if I've explained 536 00:24:28,880 --> 00:24:29,280 Speaker 5: that very well. 537 00:24:29,280 --> 00:24:30,480 Speaker 4: I know that's where my brain. 538 00:24:30,800 --> 00:24:32,879 Speaker 5: Yeah, you've probably got a better take on that than me. 539 00:24:33,160 --> 00:24:36,399 Speaker 4: No, it's about the same one brain. Sell well, I 540 00:24:36,800 --> 00:24:38,720 Speaker 4: would actually reverse up a little bit. Why are you 541 00:24:38,760 --> 00:24:42,000 Speaker 4: buying a house together? Like, are you madly in love 542 00:24:42,040 --> 00:24:43,720 Speaker 4: and want to live the rest of your lives together? 543 00:24:43,840 --> 00:24:46,680 Speaker 4: At which point this shouldn't matter too much. Please don't 544 00:24:46,680 --> 00:24:49,520 Speaker 4: get me wrong. Yes, it's a lot of money when 545 00:24:49,680 --> 00:24:52,080 Speaker 4: and I always go back to examples about myself because 546 00:24:52,080 --> 00:24:54,359 Speaker 4: I feel like it's a hard decision to have and 547 00:24:54,400 --> 00:24:57,240 Speaker 4: I've been through this experience and everyone experiences it differently. 548 00:24:57,280 --> 00:25:01,280 Speaker 4: But hopefully this helps. But when my husband and I 549 00:25:01,359 --> 00:25:03,959 Speaker 4: were purchasing our first home, he had a lot more 550 00:25:04,000 --> 00:25:07,479 Speaker 4: deposit than I did. That's just how it worked. We 551 00:25:07,520 --> 00:25:10,280 Speaker 4: didn't do anything about that. We didn't have like a 552 00:25:10,400 --> 00:25:13,679 Speaker 4: financial agreement to say, you know, if we sold, this happens, 553 00:25:13,800 --> 00:25:17,600 Speaker 4: and you know whatever that looks like. And now I 554 00:25:17,640 --> 00:25:21,119 Speaker 4: am the breadwinner in our family, and I earned significantly 555 00:25:21,160 --> 00:25:24,320 Speaker 4: more than my husband and therefore can contribute significantly more 556 00:25:24,359 --> 00:25:26,960 Speaker 4: to the mortgage in our lifestyle, and that's okay, but 557 00:25:27,200 --> 00:25:30,440 Speaker 4: from our perspective, we're not fifty to fifty. And that 558 00:25:30,560 --> 00:25:32,639 Speaker 4: was a conversation that we had to have when we 559 00:25:32,640 --> 00:25:34,800 Speaker 4: were starting to buy a house because before that we 560 00:25:34,800 --> 00:25:37,720 Speaker 4: were absolutely fair and even and split because we just 561 00:25:37,800 --> 00:25:41,440 Speaker 4: rented together. There wasn't any real like there's no liabilities, 562 00:25:41,520 --> 00:25:43,679 Speaker 4: Like the cat that we had was my cat, so 563 00:25:43,720 --> 00:25:46,880 Speaker 4: he was my expense. We hadn't gotten additional pets yet, 564 00:25:46,920 --> 00:25:49,359 Speaker 4: we hadn't had a family, we hadn't gotten married. But 565 00:25:49,359 --> 00:25:51,720 Speaker 4: we were like, well that's where we're heading, Like that's 566 00:25:51,760 --> 00:25:54,960 Speaker 4: the plan. So what's yours is mine and what's mine 567 00:25:55,000 --> 00:25:58,080 Speaker 4: is mine was how I saw it. But you know 568 00:25:58,119 --> 00:26:00,240 Speaker 4: what I mean, we had this conversation about, well, it 569 00:26:00,280 --> 00:26:02,199 Speaker 4: all kind of comes out in the wash, like there 570 00:26:02,240 --> 00:26:04,480 Speaker 4: are going to be periods of my life where I 571 00:26:04,600 --> 00:26:07,000 Speaker 4: maybe don't earn as much as Steve and vice versa, 572 00:26:07,240 --> 00:26:09,760 Speaker 4: and like we're there to support each other through that, 573 00:26:09,960 --> 00:26:12,520 Speaker 4: Like it's never been of Victoria earns all the money. 574 00:26:12,760 --> 00:26:15,120 Speaker 4: That doesn't change the way we make decisions. We still 575 00:26:15,160 --> 00:26:18,000 Speaker 4: fifty to fifty make decisions, but now all of our 576 00:26:18,040 --> 00:26:21,960 Speaker 4: money goes into our offset account and it's just our money. Yes, 577 00:26:22,000 --> 00:26:24,560 Speaker 4: I still believe in all of those things that are important, 578 00:26:24,600 --> 00:26:26,639 Speaker 4: like having your own emergency fund, having access to your 579 00:26:26,680 --> 00:26:29,800 Speaker 4: own money, having autonomy, having control all of those things. 580 00:26:29,840 --> 00:26:31,560 Speaker 4: I'm just saying this is how it worked for me. 581 00:26:32,160 --> 00:26:35,000 Speaker 4: But if that is of concern to you, I'd be 582 00:26:35,000 --> 00:26:36,879 Speaker 4: stepping back and having a look at the bigger picture 583 00:26:36,920 --> 00:26:38,639 Speaker 4: and like, well, how's this meant to come out in 584 00:26:38,680 --> 00:26:41,639 Speaker 4: the wash? But then also, if the plan is to 585 00:26:41,640 --> 00:26:43,359 Speaker 4: own it fifty to fifty, can we just set up 586 00:26:43,359 --> 00:26:44,320 Speaker 4: an agreement now that. 587 00:26:44,280 --> 00:26:46,520 Speaker 5: Says, if we sell this house, you'll get. 588 00:26:46,400 --> 00:26:49,119 Speaker 4: Back you one hundred and fifty thousand dollars deposit, and 589 00:26:49,160 --> 00:26:51,439 Speaker 4: he'll get back his sixty four thousand deposit, and then 590 00:26:51,480 --> 00:26:54,320 Speaker 4: everything will be split equally from then on in I 591 00:26:54,320 --> 00:26:56,520 Speaker 4: think it becomes quite messy if you're trying to set 592 00:26:56,600 --> 00:27:00,520 Speaker 4: up a structure where one of you ows another one 593 00:27:00,520 --> 00:27:02,560 Speaker 4: of you a certain amount of money, but then you 594 00:27:02,560 --> 00:27:05,040 Speaker 4: know you're going to potentially take and this is just 595 00:27:05,119 --> 00:27:08,120 Speaker 4: maybe a bit gendered, you're going to take maternity leave, 596 00:27:08,160 --> 00:27:10,320 Speaker 4: and then he might take a sabbatical to do some 597 00:27:10,320 --> 00:27:13,280 Speaker 4: study or whatever. Like, you're in it together. How are 598 00:27:13,320 --> 00:27:16,720 Speaker 4: you managing this together? Is my question? Like I want 599 00:27:16,760 --> 00:27:18,879 Speaker 4: you to both feel like it's fair and that neither 600 00:27:18,960 --> 00:27:21,800 Speaker 4: of you were disadvantaged, But I also want you to 601 00:27:21,840 --> 00:27:24,439 Speaker 4: look at well, why are you buying a house with 602 00:27:24,520 --> 00:27:28,480 Speaker 4: another person? That's a very big financial commitment, and like, 603 00:27:28,520 --> 00:27:31,840 Speaker 4: to me, I don't know. I felt like buying our 604 00:27:31,880 --> 00:27:36,000 Speaker 4: house was a bigger commitment in general than getting married, 605 00:27:36,240 --> 00:27:37,960 Speaker 4: which we bought our house and then we got married. 606 00:27:37,960 --> 00:27:39,760 Speaker 4: But I remember being like, well, we've already got a house, 607 00:27:39,760 --> 00:27:42,960 Speaker 4: And to me, that's deeper doodoo than you know, getting married, 608 00:27:43,000 --> 00:27:44,880 Speaker 4: because I can just walk out on this and deal 609 00:27:44,920 --> 00:27:50,040 Speaker 4: with that later. But being a de facto being joint 610 00:27:50,240 --> 00:27:53,080 Speaker 4: in debt, to me, I was like, that's terrifying. Yeah, 611 00:27:53,080 --> 00:27:54,720 Speaker 4: so I think, why are you doing this in the 612 00:27:54,720 --> 00:27:57,119 Speaker 4: first place? What does that look like in the grand 613 00:27:57,160 --> 00:27:59,199 Speaker 4: scheme of things? What does this mortgage look like in 614 00:27:59,240 --> 00:28:02,400 Speaker 4: thirty years is probably where my train of thought would 615 00:28:02,400 --> 00:28:02,760 Speaker 4: be going. 616 00:28:02,920 --> 00:28:06,000 Speaker 5: Yeah, Like, I totally understand the desire to protect yourself, 617 00:28:06,040 --> 00:28:07,560 Speaker 5: and I think that's so important and we say that 618 00:28:07,640 --> 00:28:10,080 Speaker 5: all the time, but at the same time, the chances 619 00:28:10,400 --> 00:28:14,280 Speaker 5: throughout you know, theoretically the entirety of your lives, that 620 00:28:14,280 --> 00:28:17,119 Speaker 5: you guys will always be earning exactly the same and 621 00:28:17,160 --> 00:28:20,520 Speaker 5: therefore contributing exactly the same is relatively low. I would say. 622 00:28:20,520 --> 00:28:24,720 Speaker 5: We talk a lot about contributing based on equity, not equality. Yeah, 623 00:28:24,720 --> 00:28:27,760 Speaker 5: and so yeah, I think if you can protect yourself 624 00:28:27,960 --> 00:28:30,399 Speaker 5: in the case that you know you would have to 625 00:28:30,400 --> 00:28:32,840 Speaker 5: sell because maybe you were no longer together or you 626 00:28:32,920 --> 00:28:36,440 Speaker 5: were selling down the asset for whatever reason, fine, but yeah, 627 00:28:36,480 --> 00:28:39,920 Speaker 5: I think that I personally wouldn't be stressing about it 628 00:28:40,200 --> 00:28:40,960 Speaker 5: if that. Yeah. 629 00:28:41,000 --> 00:28:43,960 Speaker 4: Yeah, and you're coming together to buy this house like 630 00:28:44,320 --> 00:28:47,120 Speaker 4: it's a joint goal. Yeah, it's a joint thing. I 631 00:28:47,120 --> 00:28:49,600 Speaker 4: don't know. Maybe other people have colorful opinions, and that's 632 00:28:49,600 --> 00:28:51,760 Speaker 4: why we put it to the community. So we did 633 00:28:51,840 --> 00:28:54,520 Speaker 4: ask them a few questions. The first one I asked was, 634 00:28:54,600 --> 00:28:56,680 Speaker 4: if you have purchased property, how did you do it. 635 00:28:57,120 --> 00:28:59,719 Speaker 4: Forty percent of you said I had an uneven deposit 636 00:28:59,720 --> 00:29:03,320 Speaker 4: with somebody else, so this is common. Twenty three percent 637 00:29:03,360 --> 00:29:06,120 Speaker 4: of you said haven't purchased property yet, twenty percent of 638 00:29:06,120 --> 00:29:08,480 Speaker 4: you said I bought solo, and seventeen percent of you 639 00:29:08,520 --> 00:29:10,840 Speaker 4: said I had a fifty to fifty deposit with someone else. 640 00:29:11,560 --> 00:29:14,800 Speaker 4: We then asked how would you handle an uneven deposit, 641 00:29:15,080 --> 00:29:17,840 Speaker 4: and a whopping sixty percent of you said, we're partners, 642 00:29:17,920 --> 00:29:20,600 Speaker 4: so it doesn't matter. I mean that to me is 643 00:29:20,600 --> 00:29:22,640 Speaker 4: really validating because I was like, what if people are 644 00:29:22,720 --> 00:29:26,200 Speaker 4: like Victoria, it matters. I'm like, oh, wellful, at least 645 00:29:26,200 --> 00:29:28,280 Speaker 4: sixty percent of you and I are on the same beam. 646 00:29:28,800 --> 00:29:31,320 Speaker 4: Twenty nine percent of you said we'd just reflect it 647 00:29:31,360 --> 00:29:33,920 Speaker 4: in the ownership split. Nine percent of you said I 648 00:29:33,920 --> 00:29:35,880 Speaker 4: would have an io you for an exact amount, and 649 00:29:35,920 --> 00:29:39,320 Speaker 4: three percent of you said loan with interest. So everybody 650 00:29:39,440 --> 00:29:41,320 Speaker 4: is going to do it differently, and like that's the 651 00:29:41,360 --> 00:29:44,000 Speaker 4: cool thing about money. It's also frustrating, right because you 652 00:29:44,080 --> 00:29:46,400 Speaker 4: just sometimes want a clean answer, like Jess, this is 653 00:29:46,400 --> 00:29:48,560 Speaker 4: the right thing, and over there all the wrong things. 654 00:29:48,600 --> 00:29:51,880 Speaker 4: Don't do that. But like, we're all different. So we 655 00:29:51,960 --> 00:29:54,680 Speaker 4: did ask the community, guys, what is your two cents? 656 00:29:55,080 --> 00:29:58,880 Speaker 4: First person, a woman after my own heart, seek legal 657 00:29:58,920 --> 00:30:01,400 Speaker 4: advice as the should be reflected in their ownership. 658 00:30:01,600 --> 00:30:01,800 Speaker 5: Yeah. 659 00:30:01,880 --> 00:30:04,480 Speaker 4: Next person said, is he able to contribute in another way, 660 00:30:04,640 --> 00:30:07,520 Speaker 4: like to make it more even? Maybe he could fund 661 00:30:07,560 --> 00:30:11,280 Speaker 4: any DIY improvements over the life of the property. Next 662 00:30:11,280 --> 00:30:13,880 Speaker 4: person said, if they are doing the first home super 663 00:30:13,880 --> 00:30:17,520 Speaker 4: Savor scheme, then she should just match his deposit instead 664 00:30:17,520 --> 00:30:19,520 Speaker 4: of putting in her full one fifty k, which is 665 00:30:19,520 --> 00:30:23,160 Speaker 4: also an option. But it does limit your buying capacity. Yeah, 666 00:30:23,360 --> 00:30:26,320 Speaker 4: and it does stop your borrowing capacity as well. Next 667 00:30:26,320 --> 00:30:28,320 Speaker 4: person said, you never know what the future holds. No 668 00:30:28,360 --> 00:30:30,320 Speaker 4: one ever plans for a divorce, but you do need 669 00:30:30,320 --> 00:30:33,040 Speaker 4: to protect your assets. Totally agree, and that's why I 670 00:30:33,040 --> 00:30:35,480 Speaker 4: think if it is a priority to you right now, 671 00:30:35,520 --> 00:30:37,760 Speaker 4: we would be putting a structure in place that you 672 00:30:37,800 --> 00:30:39,520 Speaker 4: get back what you put in. 673 00:30:39,640 --> 00:30:40,200 Speaker 5: Absolutely. 674 00:30:40,440 --> 00:30:43,360 Speaker 4: Next person said, we split our deposit equally then kept 675 00:30:43,400 --> 00:30:45,960 Speaker 4: the leftover in our savings in separate offsets. 676 00:30:46,360 --> 00:30:47,200 Speaker 5: Okay, that must be. 677 00:30:47,280 --> 00:30:49,480 Speaker 4: Nice to have even more savings than what you needed 678 00:30:49,520 --> 00:30:50,040 Speaker 4: for the house. 679 00:30:50,240 --> 00:30:53,120 Speaker 5: That's actually very clever. Yes, how did idea a lot? 680 00:30:53,240 --> 00:30:55,640 Speaker 4: I agree? Maybe you just contribute sixty four thousand and 681 00:30:55,680 --> 00:30:58,960 Speaker 4: have a nice savings account. Yeah. But also I don't 682 00:30:58,960 --> 00:31:01,160 Speaker 4: know about you, Jess, but as someone who owns a 683 00:31:01,200 --> 00:31:04,360 Speaker 4: mortgage breaking business and talks to first home buyers, most 684 00:31:04,360 --> 00:31:07,000 Speaker 4: of us are throwing literally everything we have at out opposit, 685 00:31:07,120 --> 00:31:09,000 Speaker 4: like we don't have you know, one hundred and fifty 686 00:31:09,000 --> 00:31:12,160 Speaker 4: grand and we only need half. Like that's unrelatable content 687 00:31:12,200 --> 00:31:13,360 Speaker 4: to me, So I don't want to be like. 688 00:31:13,280 --> 00:31:15,120 Speaker 5: Oh, good idea, you should definitely do that. 689 00:31:15,440 --> 00:31:19,080 Speaker 4: Like let's acknowledge that minor work. That might not work, 690 00:31:19,400 --> 00:31:21,920 Speaker 4: but like, in theory, that's really good. Another person said, 691 00:31:21,920 --> 00:31:23,640 Speaker 4: you can split the loan in half and then pay 692 00:31:23,680 --> 00:31:28,480 Speaker 4: your share. Another person said, and I've got just three more. Sorry, sorry, 693 00:31:28,520 --> 00:31:29,880 Speaker 4: I just felt like there were a lot of good 694 00:31:29,880 --> 00:31:32,120 Speaker 4: ones today. We recorded it so that if we did 695 00:31:32,160 --> 00:31:34,920 Speaker 4: break up, and so we would just get back that share, yeap. 696 00:31:35,120 --> 00:31:38,000 Speaker 4: Kind of like that. Another person said, my partner bought 697 00:31:38,040 --> 00:31:40,040 Speaker 4: everything for the house to make up a bit of 698 00:31:40,080 --> 00:31:43,440 Speaker 4: the difference in deposit, which I get. But also I'm 699 00:31:43,640 --> 00:31:46,400 Speaker 4: just assuming he doesn't have the cash to like furnish 700 00:31:46,440 --> 00:31:47,320 Speaker 4: the house or whatever. 701 00:31:47,560 --> 00:31:49,920 Speaker 5: Well, yeah, if he had the money to buy the stuff, 702 00:31:49,920 --> 00:31:52,240 Speaker 5: it would probably be going into the deposit, you would assume. 703 00:31:52,160 --> 00:31:55,640 Speaker 4: Yeah, or we could just maybe buy it over a 704 00:31:55,640 --> 00:31:56,680 Speaker 4: period of time. 705 00:31:56,600 --> 00:31:58,600 Speaker 5: True, over the first couple of years or something like that. 706 00:31:58,840 --> 00:32:00,880 Speaker 4: Yeah, I don't know. I feel like there's no one 707 00:32:00,920 --> 00:32:02,840 Speaker 4: size fits all. And then the last one I've got 708 00:32:02,880 --> 00:32:05,520 Speaker 4: is I would match his deposit and keep extra in savings. 709 00:32:05,760 --> 00:32:07,680 Speaker 4: Something will break in the first year and you'll need 710 00:32:07,720 --> 00:32:11,040 Speaker 4: some savings anyway. So true, Well, it is true. And 711 00:32:11,080 --> 00:32:13,040 Speaker 4: if you see a good mortgage broker, they will be like, 712 00:32:13,200 --> 00:32:15,840 Speaker 4: I want you to have this much buffer in your 713 00:32:15,880 --> 00:32:18,760 Speaker 4: offset or this much buffer in your savings before you buy, 714 00:32:18,880 --> 00:32:21,760 Speaker 4: because like something somewhere, somehow is going to happen and 715 00:32:21,760 --> 00:32:23,320 Speaker 4: you're going to need some cash and you do not 716 00:32:23,360 --> 00:32:25,840 Speaker 4: want to be up that creek without a paddle. 717 00:32:25,960 --> 00:32:26,560 Speaker 5: Absolutely not. 718 00:32:26,840 --> 00:32:29,200 Speaker 4: So anyway, that's where we'll leave it for today. It's 719 00:32:29,280 --> 00:32:31,040 Speaker 4: just grichi, thanks for having me. 720 00:32:31,080 --> 00:32:31,760 Speaker 5: Oh it's fun. 721 00:32:31,840 --> 00:32:33,680 Speaker 4: I love this. I mean, it's going to be more 722 00:32:33,720 --> 00:32:36,040 Speaker 4: fun when Beck comes back. But I think we're good together. 723 00:32:36,240 --> 00:32:37,360 Speaker 5: Yeah, we had a little vibe. 724 00:32:37,440 --> 00:32:40,240 Speaker 4: Yeah, we've been here from the start. Guys, all right, 725 00:32:40,360 --> 00:32:42,040 Speaker 4: have a really good week and we'll see you bright 726 00:32:42,120 --> 00:32:47,280 Speaker 4: and early on Monday morning for our money diaries. Bye bye? 727 00:32:51,280 --> 00:32:53,800 Speaker 6: Did buy shared on She's on the Money is general 728 00:32:53,840 --> 00:32:57,680 Speaker 6: in nature and does not consider your individual circumstances. She's 729 00:32:57,760 --> 00:33:01,200 Speaker 6: on the Money exists purely for education purposes and should 730 00:33:01,240 --> 00:33:04,400 Speaker 6: not be relied upon to make an investment or financial decision. 731 00:33:04,800 --> 00:33:07,240 Speaker 6: If you do choose to buy a financial product, read 732 00:33:07,280 --> 00:33:10,600 Speaker 6: the PDS TMD and obtain appropriate financial. 733 00:33:10,200 --> 00:33:12,000 Speaker 4: Advice tailored towards your needs. 734 00:33:12,360 --> 00:33:16,280 Speaker 6: Victoria Divine and Sheese on the Money are authorized representatives 735 00:33:16,320 --> 00:33:20,040 Speaker 6: of Money showper Pty Ltd. A BN three two one 736 00:33:20,120 --> 00:33:23,800 Speaker 6: IS six four nine two seven seven zero eight AFSL 737 00:33:23,960 --> 00:33:26,760 Speaker 6: four five one two eight nine