1 00:00:00,640 --> 00:00:04,920 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud your 2 00:00:04,920 --> 00:00:08,639 Speaker 1: the Order, Kernie Whoalbury and a waddery woman. And before 3 00:00:08,640 --> 00:00:11,119 Speaker 1: we get started on She's on the Money podcast, I 4 00:00:11,160 --> 00:00:14,280 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:18,079 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,560 Speaker 1: acknowledging the elders, the ancestors and the next generation coming through. 7 00:00:23,040 --> 00:00:27,120 Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and 8 00:00:27,200 --> 00:00:30,560 Speaker 1: the storytelling of you to make a difference for today 9 00:00:31,040 --> 00:00:32,599 Speaker 1: and lasting impact for tomorrow. 10 00:00:33,280 --> 00:00:34,120 Speaker 2: Let's get into it. 11 00:00:34,760 --> 00:00:54,000 Speaker 3: She's on the Money, She's on the Money. 12 00:00:57,760 --> 00:01:01,040 Speaker 4: Hello and welcome to She's on the Money, the podcast 13 00:01:01,040 --> 00:01:05,039 Speaker 4: for millennials who want financial freedom. Today is Friday, which 14 00:01:05,080 --> 00:01:07,119 Speaker 4: means it is time to sit back with the girls 15 00:01:07,120 --> 00:01:09,880 Speaker 4: with a bev in hand to unpack our favorite moments 16 00:01:09,920 --> 00:01:12,720 Speaker 4: of the week, and of course, guys, to celebrate you 17 00:01:13,040 --> 00:01:16,119 Speaker 4: how incredible She's on the Money community. As always, we're 18 00:01:16,120 --> 00:01:18,039 Speaker 4: going to be sharing our favorite money wins, We're going 19 00:01:18,120 --> 00:01:21,160 Speaker 4: to discuss what's making news in the finance world, and 20 00:01:21,280 --> 00:01:23,319 Speaker 4: we're going to be helping to answer a juicy money 21 00:01:23,400 --> 00:01:25,960 Speaker 4: question which this week is all about whether you should 22 00:01:26,000 --> 00:01:28,560 Speaker 4: rush into home ownership with not many savings or wait 23 00:01:28,640 --> 00:01:31,520 Speaker 4: until you have more capital. But more on that later, 24 00:01:31,600 --> 00:01:34,360 Speaker 4: because I want to dive straight in to recap the 25 00:01:34,360 --> 00:01:36,759 Speaker 4: week that was, and I'm going to tell you about 26 00:01:36,760 --> 00:01:39,520 Speaker 4: our money diarist. Oh Jess, I wrote her name at 27 00:01:39,560 --> 00:01:41,160 Speaker 4: the top of the paper and I nearly read it out. 28 00:01:41,200 --> 00:01:43,920 Speaker 4: That could have been a catastrophe. But close, okay, very 29 00:01:43,920 --> 00:01:46,720 Speaker 4: close calls. So this week's money darist really got me 30 00:01:46,760 --> 00:01:49,800 Speaker 4: in the fields. Jess one, she was an absolute legend. 31 00:01:49,880 --> 00:01:52,560 Speaker 4: She has a partner, she's really established, she's got such 32 00:01:52,600 --> 00:01:56,120 Speaker 4: great savings goals and hacks. But when she was twenty 33 00:01:56,120 --> 00:01:59,240 Speaker 4: three years old, her partner left her at seven and 34 00:01:59,240 --> 00:02:02,920 Speaker 4: a half month pregnant and she had no idea what 35 00:02:03,000 --> 00:02:06,520 Speaker 4: to do. So obviously, when her son turned three months old, 36 00:02:06,600 --> 00:02:10,200 Speaker 4: she just started casually her bachelor's degree. Of course, having 37 00:02:10,240 --> 00:02:13,120 Speaker 4: a newborn apparently really easy. And then when he was 38 00:02:13,160 --> 00:02:15,680 Speaker 4: four months old, Get this, Jess. She moved to an 39 00:02:15,680 --> 00:02:19,040 Speaker 4: Aboriginal community because she was really passionate about having an impact, 40 00:02:19,080 --> 00:02:21,560 Speaker 4: and that really came across. But she also had worked 41 00:02:21,600 --> 00:02:23,840 Speaker 4: out that a lot of her living expenses would be 42 00:02:23,840 --> 00:02:26,520 Speaker 4: subsidized and it would all work out really well for her. 43 00:02:26,800 --> 00:02:28,640 Speaker 4: So she put herself in a position where she was 44 00:02:28,680 --> 00:02:31,480 Speaker 4: able to save two thirds of her income basically with 45 00:02:31,600 --> 00:02:34,280 Speaker 4: a newborn or a four month old, and by the 46 00:02:34,320 --> 00:02:37,360 Speaker 4: time she was twenty six, she had finished her bachelor's degree, 47 00:02:37,520 --> 00:02:41,320 Speaker 4: purchased her house all by herself, and her son is thriving. 48 00:02:41,480 --> 00:02:44,520 Speaker 4: And this story was, from my perspective, one of my 49 00:02:44,560 --> 00:02:47,880 Speaker 4: favorite ones because it was really I grew up in poverty. 50 00:02:47,960 --> 00:02:49,760 Speaker 4: I didn't have a lot story, but I wanted to 51 00:02:49,800 --> 00:02:52,280 Speaker 4: make the most out of my life. We really spoke 52 00:02:52,280 --> 00:02:55,239 Speaker 4: about indigenous communities and the impact you can have there 53 00:02:55,240 --> 00:02:57,480 Speaker 4: and that there are so many special roles you can 54 00:02:57,520 --> 00:03:00,160 Speaker 4: do to work in those spaces. And I just feel 55 00:03:00,200 --> 00:03:02,280 Speaker 4: like it shone a light on something that I had 56 00:03:02,320 --> 00:03:05,240 Speaker 4: not thought of before, because at twenty three, like, what 57 00:03:05,360 --> 00:03:07,120 Speaker 4: do you do with a four month old? Like that 58 00:03:07,160 --> 00:03:09,960 Speaker 4: would be terrifying. I totally get it. But not only 59 00:03:10,000 --> 00:03:12,440 Speaker 4: did she kind of take life by the reins, she 60 00:03:12,600 --> 00:03:15,840 Speaker 4: just made it work and is better for it like 61 00:03:16,040 --> 00:03:18,760 Speaker 4: she is just anyway. I'm obsessed with her, and that 62 00:03:18,880 --> 00:03:20,760 Speaker 4: was my favorite part of my week this week. Jess, 63 00:03:20,919 --> 00:03:23,160 Speaker 4: Oh my gosh, she sounds incredible. Would you like to 64 00:03:23,200 --> 00:03:26,760 Speaker 4: hear about Wednesday's deep dive? Obviously, yes, I'd be as 65 00:03:26,800 --> 00:03:29,400 Speaker 4: good as our money diary though you were there, but 66 00:03:29,520 --> 00:03:33,520 Speaker 4: we're stone middle school. We spoke all about points hacking. 67 00:03:33,639 --> 00:03:34,880 Speaker 2: Yeah, definitely not as good. 68 00:03:35,000 --> 00:03:37,280 Speaker 4: And despite all of the recent kuffle, this was not 69 00:03:37,360 --> 00:03:40,560 Speaker 4: an episode about getting your rewards points stolen. It was 70 00:03:40,600 --> 00:03:43,119 Speaker 4: all about maximizing the benefits of your points to get 71 00:03:43,160 --> 00:03:47,480 Speaker 4: freezings like flights and upgrades and hotel rooms, groceries and 72 00:03:47,520 --> 00:03:49,720 Speaker 4: all kinds of other fun things. And we run through 73 00:03:49,760 --> 00:03:53,040 Speaker 4: some really tangible tips and tricks. We spoke about a 74 00:03:53,040 --> 00:03:55,520 Speaker 4: few different reward systems and things that are out there 75 00:03:55,520 --> 00:03:58,480 Speaker 4: that people could look at leveraging, and we spoke about 76 00:03:58,800 --> 00:04:02,560 Speaker 4: both credit and non credit options. So regardless of where 77 00:04:02,560 --> 00:04:04,560 Speaker 4: you fall on the spectrum, whether you have a credit 78 00:04:04,560 --> 00:04:05,960 Speaker 4: card and you want to use that to your advantage, 79 00:04:06,000 --> 00:04:07,960 Speaker 4: or whether you're someone like me who is like I 80 00:04:08,080 --> 00:04:10,400 Speaker 4: don't want that, I don't trust myself with that, there 81 00:04:10,400 --> 00:04:12,600 Speaker 4: are still other great options out there for you as well. 82 00:04:12,680 --> 00:04:14,600 Speaker 4: Do you know who's really good at points hacking that 83 00:04:14,640 --> 00:04:17,120 Speaker 4: we didn't mention in the episode, True Glenn James from 84 00:04:17,160 --> 00:04:21,240 Speaker 4: My Millennial Money. Glenn is a legend at yeah, literally 85 00:04:21,360 --> 00:04:23,760 Speaker 4: so good at it. It was so frustrating just to 86 00:04:23,839 --> 00:04:26,160 Speaker 4: drop the fact that we went to the US earlier 87 00:04:26,200 --> 00:04:30,159 Speaker 4: this year again he was there and us flips back 88 00:04:30,200 --> 00:04:33,200 Speaker 4: of the plane, Glenn James front of the plane, rude, 89 00:04:33,560 --> 00:04:35,880 Speaker 4: the man who is doing something right, Yeah, and it 90 00:04:36,000 --> 00:04:38,640 Speaker 4: is upgrading his flights using his points because he's like, 91 00:04:38,680 --> 00:04:41,040 Speaker 4: I'm not paying for that, and I'm like, look sir, understood, 92 00:04:41,120 --> 00:04:45,080 Speaker 4: but also teach me your ways. And instead of asking him, 93 00:04:45,120 --> 00:04:47,200 Speaker 4: we did it ourselves. Yeah, we did the strong independent 94 00:04:47,200 --> 00:04:49,400 Speaker 4: women who need no man. We are ready to be 95 00:04:49,520 --> 00:04:52,280 Speaker 4: points hacking queens. So hopefully people enjoyed that episode. It's 96 00:04:52,320 --> 00:04:53,919 Speaker 4: something that we get asked about a lot in the 97 00:04:53,920 --> 00:04:55,719 Speaker 4: Facebook group, and it was really fun to kind of 98 00:04:55,760 --> 00:04:57,599 Speaker 4: dive into all the different options that are out there. 99 00:04:57,680 --> 00:05:00,640 Speaker 4: All right, Jess, enough about Glenn James. I have heard 100 00:05:00,720 --> 00:05:02,400 Speaker 4: enough about him today. But what I want to hear 101 00:05:02,440 --> 00:05:04,719 Speaker 4: about now is our budget direct community, money wins and 102 00:05:04,720 --> 00:05:05,640 Speaker 4: confessions of the week. 103 00:05:05,760 --> 00:05:06,800 Speaker 2: What have we got? 104 00:05:06,839 --> 00:05:08,719 Speaker 4: All right, let's kick it off with a hot wine 105 00:05:08,839 --> 00:05:12,360 Speaker 4: from Nadia, who said money win. Finally, I made five 106 00:05:12,440 --> 00:05:15,000 Speaker 4: hundred dollars this weekend babysitting. Are three kids? 107 00:05:15,000 --> 00:05:15,960 Speaker 2: Five hundred bucks. 108 00:05:16,000 --> 00:05:19,280 Speaker 4: I know, I say, good wicket, babysitting three kids overnight 109 00:05:19,320 --> 00:05:21,359 Speaker 4: instead of going down to Sydney for the weekend and 110 00:05:21,400 --> 00:05:23,960 Speaker 4: spending money, the cash is going to go straight. 111 00:05:25,080 --> 00:05:26,599 Speaker 2: Looking after kids to make kids. 112 00:05:26,600 --> 00:05:31,560 Speaker 4: Oh, it's like a practice, like a little full circle moment. Also, 113 00:05:32,120 --> 00:05:34,400 Speaker 4: do you know what that tells me? Five hundred bucks 114 00:05:34,400 --> 00:05:36,040 Speaker 4: babysitting a kind of ford? 115 00:05:36,120 --> 00:05:37,880 Speaker 2: Kids? Kids are expensive? 116 00:05:38,600 --> 00:05:42,240 Speaker 4: Really? When people say like, oh, your life will change here, 117 00:05:42,279 --> 00:05:43,960 Speaker 4: I am being like, you know what, I'm trying really 118 00:05:44,000 --> 00:05:45,960 Speaker 4: hard to create the life that I really want to 119 00:05:46,000 --> 00:05:48,760 Speaker 4: live and earn the income that really I still can't 120 00:05:48,800 --> 00:05:51,159 Speaker 4: afford what people are talking about when it comes to 121 00:05:51,920 --> 00:05:57,560 Speaker 4: like daycare, what childcare expenses, all of this stuff about babysitting, 122 00:05:57,600 --> 00:05:59,560 Speaker 4: like it's so expensive. One of the girls on our 123 00:05:59,600 --> 00:06:01,640 Speaker 4: team does baby sitting on the side, like on the 124 00:06:01,680 --> 00:06:04,800 Speaker 4: weekends or after school, and she makes an innings from that, 125 00:06:04,920 --> 00:06:07,479 Speaker 4: Like she makes so much money, And it just reminds 126 00:06:07,480 --> 00:06:09,600 Speaker 4: me that I'm just like, you know what, when Steve 127 00:06:09,640 --> 00:06:12,200 Speaker 4: and I do decide to have kids, they're coming everywhere 128 00:06:12,200 --> 00:06:14,560 Speaker 4: with me. Because I can't afford this life. I just 129 00:06:14,600 --> 00:06:17,320 Speaker 4: can't justify it. I will spend it on experiences that 130 00:06:17,400 --> 00:06:19,120 Speaker 4: I can also experience. I would just like to know 131 00:06:19,160 --> 00:06:20,599 Speaker 4: if anyone else picked up on the fact that you 132 00:06:20,680 --> 00:06:23,359 Speaker 4: just use not one, but two cricket metaphors, which I 133 00:06:23,360 --> 00:06:26,920 Speaker 4: can you tell that over the period of time, Steve 134 00:06:27,120 --> 00:06:31,920 Speaker 4: is talking non stop about cricket. I'm like, I've never 135 00:06:32,000 --> 00:06:33,960 Speaker 4: heard you say that in my life. Oh, I've spent 136 00:06:34,040 --> 00:06:37,240 Speaker 4: too much time recently with my dad and with Steve. 137 00:06:37,400 --> 00:06:39,560 Speaker 4: And you know what, they can't wait for Boxing day 138 00:06:39,600 --> 00:06:41,680 Speaker 4: test match. Oh, you know what I can wait for 139 00:06:42,560 --> 00:06:46,440 Speaker 4: Boxing day test match. Oh my gosh, relatable content. Now 140 00:06:46,480 --> 00:06:49,240 Speaker 4: I've got a money loss for you. Turning tables a 141 00:06:49,240 --> 00:06:51,920 Speaker 4: little bit from Lucy who said money loss. Went out 142 00:06:51,920 --> 00:06:53,839 Speaker 4: to dinner with family and friends and got the bill 143 00:06:53,880 --> 00:06:57,040 Speaker 4: because the place didn't split bills, sent my bank details 144 00:06:57,040 --> 00:06:59,720 Speaker 4: and the receipt and weeks later there is still no 145 00:06:59,760 --> 00:07:03,360 Speaker 4: bank transfer or quet. That's the worst feeling in the world. 146 00:07:03,360 --> 00:07:04,760 Speaker 2: Did she say family as well? 147 00:07:04,960 --> 00:07:09,080 Speaker 4: Yeah, guys, harass your family, Like, if there's anyone you 148 00:07:09,120 --> 00:07:12,120 Speaker 4: can harass, it's your family. But also really poorform from 149 00:07:12,160 --> 00:07:14,600 Speaker 4: your friends. Lucy, I'm so sorry. I just don't understand 150 00:07:14,640 --> 00:07:17,040 Speaker 4: the audacity of people doing that because you don't know 151 00:07:17,080 --> 00:07:20,320 Speaker 4: the financial circumstance somebody else is in regardless of the 152 00:07:20,320 --> 00:07:22,840 Speaker 4: fact that that should not matter. But like, what if 153 00:07:22,920 --> 00:07:25,520 Speaker 4: Lucy needs that money to make bills? What if Lucy 154 00:07:25,600 --> 00:07:27,920 Speaker 4: needs that to put food on the table. Like what 155 00:07:28,000 --> 00:07:30,960 Speaker 4: if Lucy had really really budgeted to go out for 156 00:07:31,040 --> 00:07:32,720 Speaker 4: that nice meal and had gone, you know what, I 157 00:07:32,760 --> 00:07:34,640 Speaker 4: can spend up to twenty five dollars and we don't 158 00:07:34,680 --> 00:07:36,240 Speaker 4: know her from a bar of soap at this point, 159 00:07:36,280 --> 00:07:38,239 Speaker 4: but like, there are a lot of people that would 160 00:07:38,240 --> 00:07:41,040 Speaker 4: have budgeted for that experience and been like, all right, 161 00:07:41,040 --> 00:07:43,040 Speaker 4: I'm gonna pick something on the menu so that I can, 162 00:07:43,200 --> 00:07:44,760 Speaker 4: you know, stick to the budget that I've got. 163 00:07:44,800 --> 00:07:47,160 Speaker 2: And then, you know, being the good girl that she 164 00:07:47,280 --> 00:07:48,120 Speaker 2: clearly is. 165 00:07:48,040 --> 00:07:50,240 Speaker 4: She's like, I'll pick up the tab, It's okay, you 166 00:07:50,280 --> 00:07:51,960 Speaker 4: guys will pay me back, And then she didn't get 167 00:07:52,000 --> 00:07:55,040 Speaker 4: paid back. Like that's just the worst. It's gonna give 168 00:07:55,080 --> 00:07:57,679 Speaker 4: people anxiety to go out for dinner with you guys. Again. 169 00:07:57,880 --> 00:08:00,160 Speaker 4: It's just not kind, No, not at all, And it 170 00:08:00,160 --> 00:08:02,080 Speaker 4: stresses me out knowing our owe people money, Like I 171 00:08:02,120 --> 00:08:04,160 Speaker 4: just can't imagine being like, ah should be right, as 172 00:08:04,160 --> 00:08:06,080 Speaker 4: you know, Jess, I hate or in people money. It 173 00:08:06,160 --> 00:08:08,600 Speaker 4: is not a thing that I enjoy, But who does 174 00:08:08,760 --> 00:08:10,840 Speaker 4: enjoy that? I want people to slide into my dams. 175 00:08:11,080 --> 00:08:13,160 Speaker 4: If you don't pay stuff back, slide into my dams 176 00:08:13,160 --> 00:08:15,920 Speaker 4: and tell me why. Yeah, why do you have the audacity? 177 00:08:16,240 --> 00:08:18,360 Speaker 4: Because I want to share that because I think that 178 00:08:18,360 --> 00:08:23,200 Speaker 4: that is Are you lazy? Are you just rude? Forgetful? Maybe? 179 00:08:23,320 --> 00:08:24,160 Speaker 2: Are you forgetful? 180 00:08:24,360 --> 00:08:27,080 Speaker 4: Yeah? If you're forgetful, does it not weigh on your conscience? 181 00:08:27,440 --> 00:08:29,800 Speaker 4: Like I just have so many questions? Anyway, Lucy, that 182 00:08:29,920 --> 00:08:31,840 Speaker 4: is a money loss and we're sorry about it. Moving 183 00:08:31,880 --> 00:08:34,680 Speaker 4: right along to money win though from Caitlin. She says 184 00:08:35,040 --> 00:08:37,240 Speaker 4: money when I was going to buy a new dress 185 00:08:37,240 --> 00:08:39,720 Speaker 4: for an event but found something that I already owned, 186 00:08:39,760 --> 00:08:42,760 Speaker 4: which was perfect. We'll always be happy to re wear 187 00:08:42,760 --> 00:08:45,000 Speaker 4: a dress to save some money. Yeah, because you're a 188 00:08:45,040 --> 00:08:47,880 Speaker 4: genius and I just stand the attitude rewear don't care. 189 00:08:48,080 --> 00:08:50,120 Speaker 2: I love that. I mistill that. 190 00:08:50,520 --> 00:08:53,880 Speaker 4: To hashtag use it ladies. Next money win is from Alice, 191 00:08:54,000 --> 00:08:56,319 Speaker 4: who said money win. I took a gamble on an 192 00:08:56,320 --> 00:08:59,480 Speaker 4: interstate market for my small business, which I was hesitant 193 00:08:59,480 --> 00:09:02,960 Speaker 4: about do due to the high rent and expenses. I 194 00:09:03,040 --> 00:09:05,520 Speaker 4: killed it and made enough money to not have to 195 00:09:05,559 --> 00:09:07,360 Speaker 4: do any more markets for the rest of the year, 196 00:09:07,400 --> 00:09:09,400 Speaker 4: which means I can spend more time at home with 197 00:09:09,400 --> 00:09:11,880 Speaker 4: my family. Oh my heart, how holdsome that is a 198 00:09:11,880 --> 00:09:14,040 Speaker 4: money win? What makes me feel almost better about the 199 00:09:14,120 --> 00:09:16,640 Speaker 4: last money loss? Yeah, keep killing it, Alice, hope your 200 00:09:16,640 --> 00:09:19,160 Speaker 4: small Beers is going really well. That's a really solid 201 00:09:19,160 --> 00:09:21,199 Speaker 4: way to be going into the Christmas steel. 202 00:09:21,040 --> 00:09:21,959 Speaker 2: Folsom as well. 203 00:09:22,000 --> 00:09:24,240 Speaker 4: I love when you hear about small business owners trying 204 00:09:24,240 --> 00:09:25,880 Speaker 4: to like weigh up the pros and cons and then 205 00:09:25,920 --> 00:09:28,000 Speaker 4: you hear that they've just had like a success. 206 00:09:28,200 --> 00:09:30,400 Speaker 2: It makes me want to be like, Yeah, let's body. 207 00:09:30,480 --> 00:09:33,400 Speaker 4: Get it, coueen. I have a short one from Bridget 208 00:09:33,400 --> 00:09:35,840 Speaker 4: who said money win. Bought new Nike Air Forces for 209 00:09:35,840 --> 00:09:39,160 Speaker 4: forty five dollars because I fit in kids shoes A yeah, genius. 210 00:09:39,200 --> 00:09:41,080 Speaker 4: I love that big one. And last one I have 211 00:09:41,160 --> 00:09:44,160 Speaker 4: here is from Joyce, who said money win. I received 212 00:09:44,200 --> 00:09:47,200 Speaker 4: my long service leave payout after finalizing up with my 213 00:09:47,280 --> 00:09:49,800 Speaker 4: previous job, and it couldn't have come at a better time. 214 00:09:50,000 --> 00:09:52,400 Speaker 4: We've managed to pay off all of our outstanding short 215 00:09:52,480 --> 00:09:55,360 Speaker 4: term debts and have set up a savings plan moving forward. 216 00:09:55,800 --> 00:09:59,000 Speaker 4: Love get it, Joyce, I love that so much? All right, 217 00:09:59,120 --> 00:10:01,640 Speaker 4: Jess as always, it has been great celebrating some of 218 00:10:01,640 --> 00:10:05,079 Speaker 4: your budget Direct money wins and confessions. Budget Direct winner 219 00:10:05,080 --> 00:10:07,920 Speaker 4: of Canstar's Insurer of the Year Award twenty twenty two. 220 00:10:08,240 --> 00:10:11,679 Speaker 4: Budget Direct Insurance solved brilliant. Should we go to a 221 00:10:11,800 --> 00:10:14,360 Speaker 4: cheeky break and then come back and talk all things 222 00:10:14,400 --> 00:10:16,520 Speaker 4: all wedding. We'll see you on the flip side. I'm 223 00:10:16,559 --> 00:10:23,840 Speaker 4: going to discuss Lucy's family in the break. Welcome back 224 00:10:23,920 --> 00:10:26,880 Speaker 4: every body, Thanks for having me. Oh you're welcome anytime 225 00:10:27,120 --> 00:10:28,079 Speaker 4: to my show. 226 00:10:29,120 --> 00:10:29,640 Speaker 1: To my show. 227 00:10:29,640 --> 00:10:30,960 Speaker 2: Addresses on the money. 228 00:10:30,720 --> 00:10:32,120 Speaker 4: Yeah, oh my god. Can you imagine it would be 229 00:10:32,160 --> 00:10:33,960 Speaker 4: a total disaster. But today I want to talk about 230 00:10:33,960 --> 00:10:35,800 Speaker 4: an interesting article I read and I thought it was 231 00:10:35,880 --> 00:10:38,360 Speaker 4: very timely because what have you done recently to do 232 00:10:38,440 --> 00:10:41,360 Speaker 4: with you know, yourself and a man and a very 233 00:10:41,400 --> 00:10:43,040 Speaker 4: important day? What are you talking about? I think you 234 00:10:43,080 --> 00:10:46,840 Speaker 4: might have got married? Who did that? She's a WIFEI 235 00:10:47,760 --> 00:10:50,880 Speaker 4: do not say that again. Who will lose your privileges 236 00:10:50,880 --> 00:10:53,520 Speaker 4: on this podcast? Okay, I'm so sorry, but I read 237 00:10:53,520 --> 00:10:55,800 Speaker 4: a really interesting article about weddings the other day and 238 00:10:55,840 --> 00:10:58,560 Speaker 4: it was saying that the you will lose money and 239 00:10:58,720 --> 00:11:00,840 Speaker 4: it will be a bad in Is that what it 240 00:11:00,920 --> 00:11:04,920 Speaker 4: said more or less, Oh yeah, relatable. It essentially said 241 00:11:04,920 --> 00:11:08,760 Speaker 4: that inflation is hitting people so hard that weddings that 242 00:11:08,800 --> 00:11:12,440 Speaker 4: were postponed during COVID are costing guests as much as 243 00:11:12,480 --> 00:11:17,360 Speaker 4: an additional twenty thousand dollars because their vendors are going, Sorry, 244 00:11:17,440 --> 00:11:19,680 Speaker 4: food's more expensive, you've got to pay more. Sorry, the 245 00:11:19,679 --> 00:11:22,160 Speaker 4: cost of flower is more expensive, You've got to pay more. 246 00:11:22,440 --> 00:11:24,480 Speaker 4: All of these things, And obviously with COVID, so many 247 00:11:24,520 --> 00:11:27,240 Speaker 4: people put their weddings off. So I wanted firstly to 248 00:11:27,280 --> 00:11:30,400 Speaker 4: talk about I guess weddings in regards to inflation, but 249 00:11:30,440 --> 00:11:32,320 Speaker 4: also v to just kind of get your perspective on 250 00:11:32,400 --> 00:11:35,040 Speaker 4: what your experience was like, because you're like the freshest 251 00:11:35,080 --> 00:11:38,760 Speaker 4: guinea pig I could possibly find. I'll be honest, Our 252 00:11:38,800 --> 00:11:41,760 Speaker 4: budget absolutely blew out, which is why you guys didn't 253 00:11:41,800 --> 00:11:45,640 Speaker 4: see any budgeting tips before the wedding. Not because I'm 254 00:11:45,640 --> 00:11:48,679 Speaker 4: embarrassed by it, Like I'm in a very privileged position 255 00:11:48,760 --> 00:11:52,560 Speaker 4: where we are okay financially after that. But there were 256 00:11:52,600 --> 00:11:55,959 Speaker 4: a lot of things that either came back higher than 257 00:11:56,000 --> 00:11:59,080 Speaker 4: what I had anticipated or quotes that I got that 258 00:11:59,160 --> 00:12:01,800 Speaker 4: I was just not happy with. So I adore every 259 00:12:01,840 --> 00:12:04,520 Speaker 4: single one of the vendors that we had at our wedding, 260 00:12:04,600 --> 00:12:06,480 Speaker 4: and we're not talking about them here at all, because 261 00:12:06,480 --> 00:12:08,760 Speaker 4: I don't want you to think if I'm talking about flowers, 262 00:12:08,800 --> 00:12:10,679 Speaker 4: I'm like, oh my god, wild loss were so expensive, 263 00:12:10,760 --> 00:12:12,559 Speaker 4: Like that, wasn't it. We got value for money there, 264 00:12:12,559 --> 00:12:15,440 Speaker 4: but we obviously went and got other quotes and I 265 00:12:15,679 --> 00:12:18,480 Speaker 4: was gobsmacked. It'll be obvious now I got married on 266 00:12:18,520 --> 00:12:23,280 Speaker 4: the Morning to Peninsula. But they also had ridiculous travel fees. 267 00:12:23,559 --> 00:12:25,720 Speaker 4: And I'm not saying don't charge travel fees like if 268 00:12:25,760 --> 00:12:27,960 Speaker 4: you're a vendor, but like, can you just build it 269 00:12:28,000 --> 00:12:30,560 Speaker 4: into the cost so it doesn't feel like you're charging 270 00:12:30,559 --> 00:12:33,600 Speaker 4: me six hundred dollars to drive from Melbourne down to 271 00:12:33,600 --> 00:12:36,040 Speaker 4: the Peninsula because I don't mean to be rude, but 272 00:12:36,080 --> 00:12:38,280 Speaker 4: that's an hour drive. I just loot of money, and 273 00:12:38,440 --> 00:12:41,000 Speaker 4: with how many weddings happened down there, I didn't think 274 00:12:41,000 --> 00:12:43,560 Speaker 4: it was like, oh, I'm getting married so rurally no 275 00:12:43,600 --> 00:12:46,320 Speaker 4: one's ever been there, like the Morning to Peninsula is 276 00:12:46,360 --> 00:12:50,559 Speaker 4: full of wineries that have weddings most weekends. And having 277 00:12:50,600 --> 00:12:53,200 Speaker 4: grown up down there, I basically was a waitress at 278 00:12:53,240 --> 00:12:55,719 Speaker 4: weddings for like six or seven years, like That's how 279 00:12:55,760 --> 00:12:57,880 Speaker 4: I knew so deeply what I wanted, because I'm like, 280 00:12:58,040 --> 00:12:59,600 Speaker 4: I've been to this wedding and this wedding, and I'm 281 00:12:59,600 --> 00:13:01,120 Speaker 4: gonna pull I'm going to pull that, do you know 282 00:13:01,160 --> 00:13:03,520 Speaker 4: what I mean? Like I had dreamt this up my 283 00:13:03,840 --> 00:13:07,160 Speaker 4: entire life of what this would look like. So I 284 00:13:07,200 --> 00:13:09,280 Speaker 4: feel like I thought I knew what I was in for, 285 00:13:09,640 --> 00:13:12,640 Speaker 4: but there were additional costs and there were things that 286 00:13:12,720 --> 00:13:15,559 Speaker 4: I didn't anticipate, And I don't regret any of it. 287 00:13:15,640 --> 00:13:18,880 Speaker 4: I'm really really grateful, but I also just think it 288 00:13:19,000 --> 00:13:19,920 Speaker 4: was ridiculous. 289 00:13:20,200 --> 00:13:21,000 Speaker 2: It was a lot. 290 00:13:21,080 --> 00:13:23,520 Speaker 4: But post COVID, I think that there's also been this 291 00:13:24,200 --> 00:13:29,240 Speaker 4: shift of vendors needing more upfront payment because they were 292 00:13:29,240 --> 00:13:31,960 Speaker 4: screwed during COVID jests. That's like the point. You know, 293 00:13:32,080 --> 00:13:34,400 Speaker 4: if you were a caterer during COVID and you, you know, 294 00:13:34,600 --> 00:13:37,599 Speaker 4: really successful cater out, I'm assuming you probably have a 295 00:13:37,679 --> 00:13:40,679 Speaker 4: nice mortgage, like you've probably got some kids, you've worked 296 00:13:40,679 --> 00:13:42,680 Speaker 4: out your business for the last ten years maybe, and 297 00:13:42,720 --> 00:13:45,160 Speaker 4: you're just a wedding cater out like that's what you do. 298 00:13:45,200 --> 00:13:47,160 Speaker 4: You do good food and you deliver it to weddings 299 00:13:47,160 --> 00:13:50,400 Speaker 4: and people are stoked COVID would have wiped that completely 300 00:13:50,440 --> 00:13:52,360 Speaker 4: because we weren't allowed to have any events, so you 301 00:13:52,400 --> 00:13:54,560 Speaker 4: couldn't put food on the table for your family, you 302 00:13:54,559 --> 00:13:56,600 Speaker 4: couldn't pay your mortgage. So I think we need to 303 00:13:57,320 --> 00:14:00,440 Speaker 4: reframe this from the side of the small business that 304 00:14:00,559 --> 00:14:02,800 Speaker 4: are charging more because they're either trying to make up 305 00:14:02,800 --> 00:14:06,320 Speaker 4: for lost time or they are trying to solidify things 306 00:14:06,400 --> 00:14:09,600 Speaker 4: earlier and scare away all of the time wasters who 307 00:14:09,720 --> 00:14:12,200 Speaker 4: might cancel or change because they just don't have that 308 00:14:12,280 --> 00:14:14,839 Speaker 4: flexibility anymore. So I think we need to be a 309 00:14:14,880 --> 00:14:18,079 Speaker 4: little bit sympathetic. But I think also getting out I 310 00:14:18,120 --> 00:14:21,200 Speaker 4: don't know, as a recent bride, getting our heads screwed 311 00:14:21,200 --> 00:14:24,880 Speaker 4: on about how much things actually cost, I feel is 312 00:14:24,960 --> 00:14:28,520 Speaker 4: really really important because you know, things do blow out. 313 00:14:28,760 --> 00:14:31,360 Speaker 4: So Jess, I don't know how to say this without 314 00:14:31,440 --> 00:14:34,200 Speaker 4: sounding terrible, but I'm happy to share some of the 315 00:14:34,240 --> 00:14:36,880 Speaker 4: costs from my wedding, and over time we will probably 316 00:14:36,920 --> 00:14:39,040 Speaker 4: share a lot more. But I always want to give 317 00:14:39,040 --> 00:14:41,480 Speaker 4: a little bit of insight because I feel, do you 318 00:14:41,560 --> 00:14:43,640 Speaker 4: know what, I'm really worried about being judged. I think 319 00:14:43,680 --> 00:14:46,200 Speaker 4: it's no secret that my wedding wasn't a super budget 320 00:14:46,240 --> 00:14:48,840 Speaker 4: DIY wedding. To be honest, I didn't have time. And 321 00:14:48,880 --> 00:14:51,520 Speaker 4: I also was just so excited about this wedding. It 322 00:14:51,560 --> 00:14:53,720 Speaker 4: was one of the biggest values to Steve and I. 323 00:14:53,880 --> 00:14:56,960 Speaker 4: We were very excited about it. But you know, there's 324 00:14:57,120 --> 00:14:59,160 Speaker 4: probably a photo that you might have seen of the 325 00:14:59,240 --> 00:15:02,600 Speaker 4: champagne tower, right, And I feel like, going into that, 326 00:15:02,680 --> 00:15:05,400 Speaker 4: I just assumed it wasn't that expensive, right, Like you 327 00:15:05,480 --> 00:15:07,720 Speaker 4: might have a drinks package at the place that you're going. 328 00:15:08,000 --> 00:15:10,040 Speaker 4: You just get some glasses and stack them, right, it 329 00:15:10,080 --> 00:15:12,400 Speaker 4: will just take them after I drink them. Surely, Yeah, 330 00:15:12,440 --> 00:15:15,200 Speaker 4: Like that doesn't seem like an expensive thing to do 331 00:15:15,240 --> 00:15:17,560 Speaker 4: at a wedding, right, And when I added it in, 332 00:15:17,640 --> 00:15:21,840 Speaker 4: I didn't realize that it actually was. So let's talk 333 00:15:21,840 --> 00:15:25,400 Speaker 4: about the champagne tower for a hot second. I had 334 00:15:25,440 --> 00:15:29,600 Speaker 4: to hire a specific table for the champagne glasses to 335 00:15:29,640 --> 00:15:32,480 Speaker 4: be stacked on. Are they glued down like the bottom row? No, 336 00:15:32,560 --> 00:15:35,560 Speaker 4: they're not glued down. They are special glasses. So we 337 00:15:35,640 --> 00:15:39,560 Speaker 4: had like special crystal glasses that cost me extra to have. 338 00:15:40,120 --> 00:15:42,480 Speaker 4: But I had to hire a special tray so that 339 00:15:42,760 --> 00:15:45,080 Speaker 4: champagne when you poured it didn't go all over the floor. 340 00:15:45,120 --> 00:15:46,760 Speaker 4: It's not a table it's like kind of like a 341 00:15:46,800 --> 00:15:49,080 Speaker 4: card tray in a way, but it was like clear acrylic, 342 00:15:49,600 --> 00:15:51,560 Speaker 4: and that tray you have to hire. That cost me 343 00:15:51,600 --> 00:15:54,200 Speaker 4: five hundred dollars. Yes, for an acrylic tray. 344 00:15:54,560 --> 00:15:54,800 Speaker 2: Yep. 345 00:15:54,840 --> 00:15:57,160 Speaker 4: It did include the glasses, so I could have had 346 00:15:57,200 --> 00:15:59,880 Speaker 4: the standard glasses, but your girlfriend over here is quite 347 00:16:00,000 --> 00:16:02,200 Speaker 4: bogie and I wanted those, you know, like the vintage 348 00:16:02,280 --> 00:16:05,440 Speaker 4: feel champagne glasses. Yep. That's an extra two hundred and 349 00:16:05,440 --> 00:16:08,000 Speaker 4: fifty dollars. So just for the empty tray, you are 350 00:16:08,000 --> 00:16:11,160 Speaker 4: looking at seven hundred and fifty dollars just for that experience. 351 00:16:11,760 --> 00:16:14,680 Speaker 4: And then I don't think it's a secret. My favorite 352 00:16:14,760 --> 00:16:17,840 Speaker 4: champagne in this entire world is Verve. Not the most 353 00:16:17,880 --> 00:16:20,400 Speaker 4: expensive champagne. I mean, we're not talking about like a 354 00:16:20,440 --> 00:16:22,920 Speaker 4: two thousand and one bottle of Don Peignong. We are 355 00:16:22,960 --> 00:16:24,960 Speaker 4: talking about a bottle of Verve, which you can pick 356 00:16:25,000 --> 00:16:27,560 Speaker 4: up your local Dan Murphy's. But not in the fridge section, Jess, 357 00:16:27,840 --> 00:16:30,400 Speaker 4: which we learned last time we went to Dan Murphy's. Yes, 358 00:16:30,440 --> 00:16:32,720 Speaker 4: not in the fridge section because they've got beef apparently, 359 00:16:32,760 --> 00:16:35,080 Speaker 4: Oh my god, yes, remember, but you can get my 360 00:16:35,120 --> 00:16:37,080 Speaker 4: way in the fridge section. No, you'll have to buy 361 00:16:37,080 --> 00:16:39,120 Speaker 4: your verve from Dan Murphy's, from the aisle because they're 362 00:16:39,160 --> 00:16:41,240 Speaker 4: not going to refrigerate it for you. Chill yourself. 363 00:16:41,400 --> 00:16:42,160 Speaker 2: Chill it yourself. 364 00:16:42,520 --> 00:16:45,960 Speaker 4: But a bottle of verve is about sixty nine dollars 365 00:16:46,000 --> 00:16:47,680 Speaker 4: if you're buying it in bulk, which we had to. 366 00:16:48,280 --> 00:16:51,600 Speaker 4: And to fill a champagne tower for about one hundred 367 00:16:51,600 --> 00:16:54,440 Speaker 4: and thirty guests, which we had, was two thousand and 368 00:16:54,480 --> 00:16:58,160 Speaker 4: seventy dollars, so that experience, which I thought would be 369 00:16:58,280 --> 00:17:01,520 Speaker 4: a nice addition. And Steve, we'll just do a champagne 370 00:17:01,600 --> 00:17:03,960 Speaker 4: tower instead of a cake because both of us don't 371 00:17:03,960 --> 00:17:06,800 Speaker 4: really enjoy cake, but we love a good glass of champagne. 372 00:17:07,000 --> 00:17:11,000 Speaker 4: Twenty eight hundred and twenty dollars. I would never like 373 00:17:11,040 --> 00:17:12,280 Speaker 4: if you said to me how much you think of Sam, 374 00:17:12,480 --> 00:17:12,919 Speaker 4: I wouldn't. 375 00:17:13,000 --> 00:17:14,960 Speaker 2: I should have asked you before I shared it and 376 00:17:15,280 --> 00:17:16,119 Speaker 2: got to know any of that. 377 00:17:16,200 --> 00:17:18,000 Speaker 4: I hope that when I share stuff like this, you 378 00:17:18,040 --> 00:17:20,520 Speaker 4: guys are just like, oh my god, that's ridiculous. And 379 00:17:20,680 --> 00:17:21,840 Speaker 4: you know what, there are going to be some people 380 00:17:21,840 --> 00:17:23,880 Speaker 4: who are like, oh, she's got rocks in her head, 381 00:17:24,000 --> 00:17:26,360 Speaker 4: Like there's absolutely no way that's crazy. 382 00:17:26,520 --> 00:17:27,320 Speaker 2: Like I get it. 383 00:17:27,400 --> 00:17:29,920 Speaker 4: I think what you need to remember is we did 384 00:17:30,080 --> 00:17:32,439 Speaker 4: our wedding with our values in mind, and that was 385 00:17:32,440 --> 00:17:34,720 Speaker 4: something really important to us. And as I said just before, 386 00:17:34,720 --> 00:17:37,480 Speaker 4: like we didn't have a cake, and that was the substitute, 387 00:17:37,520 --> 00:17:40,760 Speaker 4: and wedding cakes can actually become quite comparable in price 388 00:17:41,080 --> 00:17:43,440 Speaker 4: because of the time, energy and effort that goes into them. 389 00:17:43,680 --> 00:17:45,800 Speaker 4: I'm not saying that it wasn't worth that, but I 390 00:17:45,840 --> 00:17:49,440 Speaker 4: think that I hadn't conceptualized before going into there that 391 00:17:49,440 --> 00:17:52,439 Speaker 4: that was twenty eight hundred and twenty dollars that I 392 00:17:52,480 --> 00:17:56,400 Speaker 4: hadn't budgeted because I assumed that you would just get 393 00:17:56,400 --> 00:17:59,080 Speaker 4: some glasses. How I can be chuck them on a table. 394 00:17:59,160 --> 00:18:00,800 Speaker 4: After you've chucked them on the table, you just use 395 00:18:00,840 --> 00:18:03,440 Speaker 4: the champagne that said the wedding that you're paying per head, right, Yeah, 396 00:18:03,440 --> 00:18:05,919 Speaker 4: that would make total sense. Well, because we didn't have 397 00:18:06,040 --> 00:18:09,720 Speaker 4: champagne per head, we actually had a drink's package and 398 00:18:09,720 --> 00:18:12,639 Speaker 4: it included a sparkling. Yes, we probably could have used that, 399 00:18:12,800 --> 00:18:16,240 Speaker 4: but like I wanted my favorite drink there, and so 400 00:18:16,359 --> 00:18:18,080 Speaker 4: Steve and I sat down when we worked out how 401 00:18:18,119 --> 00:18:20,080 Speaker 4: much would be and you know, went back and forth 402 00:18:20,119 --> 00:18:22,040 Speaker 4: and said, is this worth it? Is it not should 403 00:18:22,040 --> 00:18:24,760 Speaker 4: we just used sparkling. Should we, you know, maybe us 404 00:18:24,880 --> 00:18:27,800 Speaker 4: just drink a nice glass of champagne once we get married, 405 00:18:27,880 --> 00:18:29,879 Speaker 4: or should everyone have it? And I was like, no, 406 00:18:29,960 --> 00:18:32,280 Speaker 4: I want everyone to have at least one nice glass 407 00:18:32,280 --> 00:18:34,919 Speaker 4: of fancy champagne. And so that was a decision that 408 00:18:34,960 --> 00:18:37,080 Speaker 4: we made and it really aligned with our values. But 409 00:18:37,440 --> 00:18:39,480 Speaker 4: just that's a lot of money, so much, and so 410 00:18:39,640 --> 00:18:42,000 Speaker 4: I think that as a bride going into a wedding, 411 00:18:42,119 --> 00:18:45,199 Speaker 4: I just really didn't realize how expensive all the quote 412 00:18:45,240 --> 00:18:48,320 Speaker 4: little things and if you're a bridal vendor, please skip 413 00:18:48,520 --> 00:18:50,960 Speaker 4: like all of this because you're just going to be scoffing. 414 00:18:51,000 --> 00:18:53,680 Speaker 4: And I didn't understand how expensive it was. But I've 415 00:18:53,720 --> 00:18:55,760 Speaker 4: never done this before. I don't know how I. 416 00:18:55,720 --> 00:18:57,520 Speaker 2: Was expected to know already. 417 00:18:57,840 --> 00:18:59,840 Speaker 4: And I thought I was really educated on this process 418 00:19:00,080 --> 00:19:02,640 Speaker 4: because I used to be a financial advisor. I would 419 00:19:02,720 --> 00:19:05,240 Speaker 4: see my client's wedding budgets and what they were spending 420 00:19:05,280 --> 00:19:07,480 Speaker 4: and how it worked. But like, I never paid enough 421 00:19:07,480 --> 00:19:10,199 Speaker 4: attention to the detail. And I hope that that I 422 00:19:10,200 --> 00:19:12,760 Speaker 4: don't know, little analogy just shares that, yeah, this stuff 423 00:19:12,840 --> 00:19:14,879 Speaker 4: really does increase. And that's got nothing to do with 424 00:19:15,000 --> 00:19:17,760 Speaker 4: COVID that's just some expensive thing that I had at 425 00:19:17,760 --> 00:19:20,720 Speaker 4: my wedding that made me absolutely gag when I heard 426 00:19:20,760 --> 00:19:23,880 Speaker 4: about it. Yeah, for anyone who did maybe get quotes 427 00:19:24,040 --> 00:19:26,840 Speaker 4: twelve or so months ago all longer, it's definitely a 428 00:19:26,840 --> 00:19:31,040 Speaker 4: good reminder as well to kind of go back requote 429 00:19:31,119 --> 00:19:33,880 Speaker 4: because prices have definitely changed, and I feel like it's 430 00:19:33,880 --> 00:19:36,600 Speaker 4: across a lot of the major categories that are already 431 00:19:36,640 --> 00:19:40,120 Speaker 4: quite expensive as well, like your food, your florals, your 432 00:19:40,320 --> 00:19:43,320 Speaker 4: venue as well. Ven you was the biggest expense for us, 433 00:19:43,960 --> 00:19:47,080 Speaker 4: that's okay, but our venue did include food and beverage, 434 00:19:47,080 --> 00:19:49,400 Speaker 4: like it was kind of an all inclusive package. 435 00:19:49,560 --> 00:19:50,560 Speaker 2: But money win. 436 00:19:50,640 --> 00:19:52,879 Speaker 4: We didn't get paid for the ceremony, and sometimes if 437 00:19:52,920 --> 00:19:55,320 Speaker 4: you also want to get married at the venue, you 438 00:19:55,400 --> 00:19:58,520 Speaker 4: have to pay an additional ceremony fee in addition to 439 00:19:58,520 --> 00:20:02,400 Speaker 4: the reception, which I think is ridiculous because you're already there, right. Yeah, 440 00:20:02,640 --> 00:20:04,439 Speaker 4: but a lot of places charged for that, and I 441 00:20:04,440 --> 00:20:07,520 Speaker 4: didn't know until I started planning a wedding. Oh my goodness. Well, 442 00:20:07,600 --> 00:20:09,680 Speaker 4: keep an eye out, guys, because we definitely will have 443 00:20:09,760 --> 00:20:12,440 Speaker 4: more wedding content coming in the new year. La Victoria said, 444 00:20:12,480 --> 00:20:15,320 Speaker 4: now that she's had some time to relax and think 445 00:20:15,359 --> 00:20:17,639 Speaker 4: about moon and digest it all a little bit. We 446 00:20:17,680 --> 00:20:19,920 Speaker 4: are definitely excited to put some more stuff out there 447 00:20:19,920 --> 00:20:22,760 Speaker 4: for you guys, which I'm super excited about. But I 448 00:20:22,800 --> 00:20:25,240 Speaker 4: also just think it's the most responsible thing to do 449 00:20:25,359 --> 00:20:26,879 Speaker 4: now I've been through it. Now I know what this 450 00:20:27,040 --> 00:20:30,040 Speaker 4: costs and how it works. How would I plan better? 451 00:20:30,520 --> 00:20:32,399 Speaker 4: That's going to add way more value to you than 452 00:20:32,440 --> 00:20:35,040 Speaker 4: you guys getting access to a budgeting spreadsheet that I 453 00:20:35,119 --> 00:20:37,920 Speaker 4: ended up blowing out and was not nearly comprehensive enough. 454 00:20:38,040 --> 00:20:39,919 Speaker 2: So I feel like I'm putting you guys in the 455 00:20:39,920 --> 00:20:41,320 Speaker 2: best possible position that I can. 456 00:20:41,560 --> 00:20:44,120 Speaker 4: I could not agree more. But is it about time 457 00:20:44,160 --> 00:20:45,920 Speaker 4: that we listen to a money dilemma? Oh? 458 00:20:45,920 --> 00:20:47,040 Speaker 2: I can't wait. Let's go. 459 00:20:49,359 --> 00:20:51,720 Speaker 4: Hi there, have you got a money dilemma you just 460 00:20:51,760 --> 00:20:54,280 Speaker 4: can't solve? The She's on the Money team is here 461 00:20:54,320 --> 00:20:57,560 Speaker 4: to help. Every week, we tackle your dilemmas, both big 462 00:20:57,600 --> 00:21:01,200 Speaker 4: and small, to answer your most burning money and life questions. 463 00:21:01,440 --> 00:21:03,920 Speaker 4: To get involved, simply head to our website and leave 464 00:21:04,000 --> 00:21:06,120 Speaker 4: us a short voice recording and you might just find 465 00:21:06,119 --> 00:21:08,800 Speaker 4: yourself on the show. Now, let's take a listen to 466 00:21:08,920 --> 00:21:10,400 Speaker 4: this week's money dilemma. 467 00:21:11,160 --> 00:21:14,840 Speaker 5: I have a small deposit using the government five percent 468 00:21:14,920 --> 00:21:17,680 Speaker 5: scheme to avoid el might for a chance of buying 469 00:21:17,800 --> 00:21:22,000 Speaker 5: a small, two bedroom property and getting in as fast 470 00:21:22,000 --> 00:21:25,640 Speaker 5: as possible with not much savings to back me up. 471 00:21:26,000 --> 00:21:29,199 Speaker 6: Do I do that or do I save? At the 472 00:21:29,280 --> 00:21:31,639 Speaker 6: end of next year, I would have sixty thousand dollars 473 00:21:31,640 --> 00:21:34,879 Speaker 6: in savings, And do I invest that money instead in 474 00:21:35,000 --> 00:21:38,000 Speaker 6: something else or just waiting by property when I've got 475 00:21:38,000 --> 00:21:39,040 Speaker 6: more capital built up. 476 00:21:39,600 --> 00:21:42,880 Speaker 4: Yes, I feel like this is actually a really good 477 00:21:42,880 --> 00:21:45,760 Speaker 4: one for you to kick off with because you're in 478 00:21:45,800 --> 00:21:48,760 Speaker 4: a circumstance where you're still looking for your first home. 479 00:21:49,480 --> 00:21:50,480 Speaker 2: What would you say? 480 00:21:50,600 --> 00:21:54,160 Speaker 4: I feel like as much as I understand the desire, 481 00:21:54,560 --> 00:21:56,320 Speaker 4: like if I could get into a home tomorrow, I 482 00:21:56,359 --> 00:21:58,520 Speaker 4: would do it. Do you know, Like I fully understand 483 00:21:58,680 --> 00:22:01,480 Speaker 4: the one to get in as soon as you can, 484 00:22:01,560 --> 00:22:04,359 Speaker 4: particularly with the changing rates and all of these things 485 00:22:04,359 --> 00:22:06,880 Speaker 4: that kind of make it seem even more urgent than 486 00:22:06,920 --> 00:22:10,760 Speaker 4: it was before. But I would be very conscious personally 487 00:22:10,760 --> 00:22:13,320 Speaker 4: as someone who is risk adverse to jumping into home 488 00:22:13,359 --> 00:22:15,639 Speaker 4: ownership with not a lot of money behind you, because 489 00:22:15,640 --> 00:22:17,639 Speaker 4: the thing about home ownership is that you then have 490 00:22:17,720 --> 00:22:20,480 Speaker 4: a lot more responsibility. So because a render if something breaks, 491 00:22:20,480 --> 00:22:22,919 Speaker 4: it's actually not my problem. Like I call my property 492 00:22:22,920 --> 00:22:24,480 Speaker 4: manager and I say, hey, you need to fix the 493 00:22:24,520 --> 00:22:26,400 Speaker 4: dish wash and they go, okay, no problems, We'll send 494 00:22:26,440 --> 00:22:28,280 Speaker 4: someone or at least I hope that's what would happen 495 00:22:28,280 --> 00:22:28,960 Speaker 4: if it did break. 496 00:22:29,240 --> 00:22:31,000 Speaker 2: But that's what they usually do. 497 00:22:31,119 --> 00:22:33,000 Speaker 4: Yeah, that's what That's what I'm imagining if they're like 498 00:22:33,000 --> 00:22:35,960 Speaker 4: a good, nice, easy landlord, but you're not what happened 499 00:22:36,000 --> 00:22:39,199 Speaker 4: in my experience. But moving on, But I think that 500 00:22:39,400 --> 00:22:41,000 Speaker 4: when you own the home, you've got to buy a 501 00:22:41,000 --> 00:22:44,960 Speaker 4: new dish washer. That's gonna be what two grand push 502 00:22:45,040 --> 00:22:47,200 Speaker 4: on this podcast about how much a new air conditioner 503 00:22:47,240 --> 00:22:50,480 Speaker 4: costs me. I am a salty still, And that's just 504 00:22:50,560 --> 00:22:53,679 Speaker 4: the incidental things that you don't necessarily factor in for. 505 00:22:53,760 --> 00:22:56,120 Speaker 4: But then you've got your ongoing costs, your rates, if 506 00:22:56,160 --> 00:22:59,600 Speaker 4: you are in an apartment, you've got strata, Like there's 507 00:22:59,640 --> 00:23:02,720 Speaker 4: all of these extra costs that if you're going from 508 00:23:02,760 --> 00:23:06,040 Speaker 4: renting or living at home to home ownership. As much 509 00:23:06,040 --> 00:23:07,960 Speaker 4: as you're like I'm paying off something and it's mine, 510 00:23:08,640 --> 00:23:11,160 Speaker 4: it's a much bigger investment a lot of the time. 511 00:23:11,600 --> 00:23:13,479 Speaker 4: And I think that if you don't have a lot 512 00:23:13,480 --> 00:23:15,639 Speaker 4: of money behind you, you kind of put yourself in 513 00:23:15,640 --> 00:23:19,159 Speaker 4: the position where potentially you could tip yourself beyond the 514 00:23:19,200 --> 00:23:21,600 Speaker 4: point of things becoming a little bit too difficult, and 515 00:23:21,680 --> 00:23:23,960 Speaker 4: I would just be very anxious about that, and that's 516 00:23:23,960 --> 00:23:26,639 Speaker 4: going to put you in a worse off financial position. So, Jess, 517 00:23:27,000 --> 00:23:29,680 Speaker 4: that's exactly what I would have said. I just don't 518 00:23:29,720 --> 00:23:32,480 Speaker 4: think getting in sooner at the cost of your financial 519 00:23:32,480 --> 00:23:34,760 Speaker 4: health and your mental well being is worth it. I 520 00:23:34,800 --> 00:23:37,120 Speaker 4: think that we should be putting ourselves in the best 521 00:23:37,160 --> 00:23:40,480 Speaker 4: possible position. I don't think and I know this again 522 00:23:41,040 --> 00:23:44,639 Speaker 4: a really privileged thing to say, but I think really important. 523 00:23:45,080 --> 00:23:46,960 Speaker 4: I don't think you should be buying a house if 524 00:23:46,960 --> 00:23:49,680 Speaker 4: you don't have an emergency funds left over. I think 525 00:23:49,720 --> 00:23:52,520 Speaker 4: that every single person should not be using every single 526 00:23:52,520 --> 00:23:54,840 Speaker 4: dollar in their account to get a mortgage, because what 527 00:23:54,960 --> 00:23:57,600 Speaker 4: if you move in and then it floods the next week. 528 00:23:57,800 --> 00:24:01,200 Speaker 4: I mean, I'm pretty sure, Jess. There are statistics, because 529 00:24:01,200 --> 00:24:03,520 Speaker 4: I've seen them before. I will find them for another 530 00:24:03,560 --> 00:24:07,159 Speaker 4: episode for you. But most incidents that happen in a 531 00:24:07,200 --> 00:24:10,040 Speaker 4: property that are kind of like, you know, just from negligence. 532 00:24:10,160 --> 00:24:12,080 Speaker 4: Let's call it happened in the first three months of 533 00:24:12,080 --> 00:24:14,520 Speaker 4: ownership because you're just not used to that house. So 534 00:24:14,920 --> 00:24:17,760 Speaker 4: leaving the bath to overrun, leaving the heater on for 535 00:24:17,840 --> 00:24:20,720 Speaker 4: too long, you know, breaking something because you just didn't 536 00:24:20,800 --> 00:24:23,920 Speaker 4: understand how it worked. It's gonna happen when you first 537 00:24:23,960 --> 00:24:26,560 Speaker 4: move in. So I just it makes me so anxious 538 00:24:26,600 --> 00:24:28,800 Speaker 4: to think that you guys would move into a property 539 00:24:28,840 --> 00:24:32,080 Speaker 4: and have no backup funds and no cash to draw on. 540 00:24:32,320 --> 00:24:34,200 Speaker 4: Like what if you find there's mold in the house 541 00:24:34,240 --> 00:24:36,640 Speaker 4: and your building inspector didn't pick it up. There's also 542 00:24:36,720 --> 00:24:38,119 Speaker 4: all of those costs right. 543 00:24:38,000 --> 00:24:38,600 Speaker 2: When you're moving. 544 00:24:38,640 --> 00:24:40,560 Speaker 4: If you're moving, it's a no brainer to get a 545 00:24:40,560 --> 00:24:43,159 Speaker 4: building inspection. It's a no brainer to have to pay solicitors. 546 00:24:43,400 --> 00:24:45,320 Speaker 4: Like the thing I would be saying is really talk 547 00:24:45,359 --> 00:24:47,800 Speaker 4: to your broker, because a very good broker wouldn't let 548 00:24:47,800 --> 00:24:50,000 Speaker 4: you get into a situation that is going to be 549 00:24:50,040 --> 00:24:51,919 Speaker 4: at the cost of your financial security. 550 00:24:52,040 --> 00:24:53,800 Speaker 2: And I know, Jess, you're. 551 00:24:53,720 --> 00:24:56,120 Speaker 4: Using Kate, our broker at Zella Money, And I mean 552 00:24:56,119 --> 00:24:58,840 Speaker 4: you've probably spoken to Nikki before as well, and a 553 00:24:58,880 --> 00:25:01,760 Speaker 4: couple of the other girls. But Kate would absolutely just 554 00:25:01,840 --> 00:25:03,800 Speaker 4: keep telling you, Jess, Nope, that's not the house for you. 555 00:25:03,880 --> 00:25:06,480 Speaker 4: It's out of budget or mean that your financial circumstances 556 00:25:06,520 --> 00:25:08,040 Speaker 4: would look like X, Y, and Z if you did 557 00:25:08,040 --> 00:25:10,159 Speaker 4: that today, and you're like, yep, okay, no worries. So 558 00:25:10,320 --> 00:25:13,000 Speaker 4: it's just so important to have somebody who wants to 559 00:25:13,000 --> 00:25:16,200 Speaker 4: put you in the best financial situation. And quite honestly, 560 00:25:16,280 --> 00:25:19,840 Speaker 4: that's often counterintuitive to a mortgage broker's role because they 561 00:25:19,840 --> 00:25:21,840 Speaker 4: make their money from the bank when the loan settles. 562 00:25:22,080 --> 00:25:23,879 Speaker 4: So it's actually kind of hard to find a broker 563 00:25:23,880 --> 00:25:26,520 Speaker 4: that wants to genuinely put you in the best possible position, 564 00:25:26,720 --> 00:25:28,800 Speaker 4: which is why we snapped Kate up so quickly. Ah, 565 00:25:29,680 --> 00:25:32,000 Speaker 4: I feel like that's the perfect spot to leave it 566 00:25:32,040 --> 00:25:34,640 Speaker 4: for today. Hopefully that helped you out, Niki, But thank 567 00:25:34,680 --> 00:25:36,679 Speaker 4: you guys so much for tuning in. Don't forget if 568 00:25:36,720 --> 00:25:39,040 Speaker 4: you want to join the Facebook group you can find us. 569 00:25:39,200 --> 00:25:42,040 Speaker 4: There's over two hundred and sixty thousand people in there 570 00:25:42,040 --> 00:25:45,080 Speaker 4: sharing their tips and tricks every single day. If you 571 00:25:45,119 --> 00:25:47,360 Speaker 4: want to talk property, we also have the Property Playbook 572 00:25:47,400 --> 00:25:49,679 Speaker 4: Facebook group as well. That might be a good spot 573 00:25:49,680 --> 00:25:52,679 Speaker 4: for our money dilemma. If you're not into Facebook and 574 00:25:52,720 --> 00:25:54,760 Speaker 4: Instagram's more your thing, we're also on there. We're on 575 00:25:54,840 --> 00:25:57,359 Speaker 4: TikTok as well. You can find good She's on the 576 00:25:57,400 --> 00:25:59,520 Speaker 4: monet and stop sending them there. Jess, I've got a 577 00:25:59,520 --> 00:26:01,880 Speaker 4: lot to live up to. The TikTok content is great. 578 00:26:01,920 --> 00:26:04,320 Speaker 4: It's like the grungy content that didn't make it Instagram. 579 00:26:04,400 --> 00:26:06,200 Speaker 4: Yeah if I I only let her post it there. 580 00:26:06,359 --> 00:26:08,400 Speaker 4: If Yeah, I didn't want it on the Instagram feed. 581 00:26:08,560 --> 00:26:11,600 Speaker 4: So nice, nice, see thy hope, and we'll talk to 582 00:26:11,600 --> 00:26:19,760 Speaker 4: you next Week'e you on Monday. Bye. The advice shared 583 00:26:19,800 --> 00:26:22,159 Speaker 4: on She's on the Money is general in nature and 584 00:26:22,240 --> 00:26:25,879 Speaker 4: does not consider your individual circumstances. She's on the Money 585 00:26:26,000 --> 00:26:29,520 Speaker 4: exists purely for educational purposes and should not be relied 586 00:26:29,600 --> 00:26:32,679 Speaker 4: upon to make an investment or financial decision. If you 587 00:26:32,800 --> 00:26:35,520 Speaker 4: do choose to buy a financial product, read the PDS 588 00:26:35,600 --> 00:26:39,600 Speaker 4: TMD and obtain appropriate financial advice tailored towards your needs. 589 00:26:39,960 --> 00:26:43,880 Speaker 4: Victoria Divine and She's on the Money are authorized representatives 590 00:26:43,920 --> 00:26:47,800 Speaker 4: of Money SHERPA pty Ltd ABN three two one is 591 00:26:47,840 --> 00:26:51,679 Speaker 4: six four nine two seven seven zero eight AFSL four 592 00:26:51,800 --> 00:27:01,440 Speaker 4: five one two eight nine. You will