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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming through.

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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and

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Speaker 1: the storytelling of you to make a difference for today

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Speaker 1: and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 4: Hello, and welcome to She's on the Money, the podcast

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Speaker 4: for millennials who want financial freedom. Today is Friday, which

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Speaker 4: means it is time to get the team together and

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Speaker 4: celebrate you our incredible She's on the Money community. Today

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Speaker 4: we'll be sharing some of our favorite money wins with

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Speaker 4: missus Jess Geruci, and we're going to be helping to

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Speaker 4: answer a juicy money dilemma, which this week is all

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Speaker 4: about buying property, which is very well timed because you

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Speaker 4: guys have an episode dropping next week with our very

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Speaker 4: own Cape Brands Grove from Zella Money, who is going

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Speaker 4: to talk you through the ins and outs of mortgages

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Speaker 4: and we're going to be unpacking something that you guys

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Speaker 4: slid into our DMS about this week, which is the

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Speaker 4: banker's mum and dad with us. As always, we also

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Speaker 4: have Miss Beck said, how has your week been?

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Speaker 5: Hi, VICKI D week's been good. Good, We's been good,

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Speaker 5: very uneventful. But I'm I'm so tired.

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Speaker 2: I'm so tired.

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Speaker 5: I think it's because I didn't do anything. You know,

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Speaker 5: you know when you feel a little bit like a slug.

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Speaker 2: Yeah, I think that's what it is, and it's just snowballing.

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Speaker 4: Now. I'm peak slug, peak slug. Jesse, you peak slug

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Speaker 4: or if you had a good week. No, this week

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Speaker 4: has been a good week.

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Speaker 6: It was Valentine's Day, as we all know, I love

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Speaker 6: us themes, so I've been a holiday girlie. Yeah, I've

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Speaker 6: been wearing pink all week, really living the best life.

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Speaker 6: But apart from that, nothing exciting has been happening.

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Speaker 4: Have you ever thought, wow, I really should have lived

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Speaker 4: in America where they.

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Speaker 2: Really all the time. I just feel like.

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Speaker 4: Jess lives in America, like she's meant to live in

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Speaker 4: America with the amount she loves her holidays and how

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Speaker 4: much Americans celebrate holidays. Jess and I went to Orlando

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Speaker 4: last year. We were there for fin Con, which is

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Speaker 4: like a finance conference. It was actually really fun. It

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Speaker 4: was not going to be exploring that with you right now,

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Speaker 4: because you're quite judgmental and I just don't want the feedback.

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Speaker 4: But Jess and I had a very good time. Okay,

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Speaker 4: But while we were there, we actually had to prioritize

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Speaker 4: going to all the walmarts and targets in the area

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Speaker 4: because Jess wanted to bring home pumpkins, ceramic ceramic pumpkins,

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Speaker 4: ceramic decoration for when she got home in time for Halloween, because.

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Speaker 2: We don't do that yet. It's not fair. No, It's

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Speaker 2: very hard to find a pumpkin around.

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Speaker 6: I'm on the side of TikTok that is a American

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Speaker 6: TikTok because its people going to like American Target all

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Speaker 6: places like that way. They do all the decorature TikTok

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Speaker 6: And all I want now, even though I think it's vile,

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Speaker 6: is those really big jugs of doctor pepper and then

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Speaker 6: I want to put They like put things in their

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Speaker 6: doctor pepper obviously, look at beckspace them TikTok, you like

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Speaker 6: soda milkshake without them, Like they'll put things like coss creamer.

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Speaker 2: Oh my god, it's a lot. It's crazy in a

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Speaker 2: doctor pepper.

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Speaker 4: Yeah, because in Utah, a lot of the people that

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Speaker 4: live there are Mormons, any Mormon culture. They don't drink drinks.

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Speaker 4: They don't drink tea or coffee or alcohol. So the

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Speaker 4: one thing that they can have is usually like soda,

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Speaker 4: and they just have soda bars all around Utah and

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Speaker 4: that's what they do. Yeah, they do beignets and soda

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Speaker 4: like that's a thing. And I learn all of this

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Speaker 4: from TikTok because I am col Cha or a spider.

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Speaker 4: They basically make spiders. Yeah, but they like they got

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Speaker 4: me on too. And we've talked about this on the

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Speaker 4: podcast before, and Jesse, you reached the benefits of this.

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Speaker 3: I have.

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Speaker 4: I ordered it's called true lime. It's like crystallized lime juice,

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Speaker 4: so you can put it in your wallet and then

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Speaker 4: put it in your diet coke. Anywhere you go.

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Speaker 2: You put it in your wallet.

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Speaker 6: So I like have this like a little salt packet

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Speaker 6: that you have this little it's glad bagged.

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Speaker 2: Yeah.

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Speaker 4: So I had this little baggy in my wallet and

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Speaker 4: I pull it.

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Speaker 5: Out, my.

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Speaker 4: Bag of crystals, in your crystallized lime, and I put

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Speaker 4: it in my McDonald's diet coke.

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Speaker 2: Ask yes, is it good? It is okay, so good and.

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Speaker 4: Utah mom TikTok got me onto it. And I have

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Speaker 4: no shape.

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Speaker 5: My eyes are watering at the thought of how sour

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Speaker 5: that would be.

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Speaker 2: But it's it's it's proper lime.

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Speaker 4: I also learned one thing that I'm going to be

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Speaker 4: asking for for Christmas is a bench top ice maker, the.

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Speaker 2: Nugget ice machine. Yeah, and nugget ice machine. I tried

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Speaker 2: to buy you one for Christmas?

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Speaker 7: Did you know?

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Speaker 6: I tried to buy you one for your wedding present?

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Speaker 6: And did you know nowhere in Australia makes them. And

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Speaker 6: I thought about importing one. Then I was worried the

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Speaker 6: conversion wouldn't work and it would like leak and stuff

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Speaker 6: because like the faultye, that kind of stuff.

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Speaker 2: So I benched it for now.

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Speaker 4: If anyone knows where to get a nugget ice snaker

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Speaker 4: in Australia, you have one customer standing right here.

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Speaker 2: I have made too. Let's move on.

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Speaker 4: People aren't here to learn about dit cloth or lime

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Speaker 4: juice or beignetes or utah mums or even that Victoria

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Speaker 4: wants a nugget ice Machine're here to talk about money, uh,

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Speaker 4: specifically community money wins. Miss Jess Gorici, what have you

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Speaker 4: round up this week for us?

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Speaker 2: We're gonna start.

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Speaker 6: Off with a festive one, Teagan said. My husband and

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Speaker 6: I did an early Valentine's dinner to avoid having to

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Speaker 6: pay for inflated dinner packages. Smart so smart because so

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Speaker 6: many places you only do set menu, which sucks if

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Speaker 6: you're like me and you're fussy, because nine times out

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Speaker 6: of ten, at least one of the courses I'm like,

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Speaker 6: I don't want that.

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Speaker 4: I also find when it's set menu, like you don't

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Speaker 4: need that much food. Like I don't know about you guys,

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Speaker 4: but my partner and I often like do an entree

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Speaker 4: each and they're more like share and like a side

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Speaker 4: and a salad and then be like, oh, we've got

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Speaker 4: enough room for dessert, and like that is not what

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Speaker 4: happens when you go and do the set menu. Because

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Speaker 4: Valentine's Day, that's what we did.

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Speaker 2: Yeah, sucked in take him was smart.

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Speaker 4: I did get sucked in tig and as much styleway next,

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Speaker 4: I'm feeling great about myself.

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Speaker 2: These money ins just keep on giving.

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Speaker 6: My next money in comes from La Baga, who said

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Speaker 6: my husband wanted to buy a smart watch for a

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Speaker 6: while last year, both of us upgraded our phones outright,

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Speaker 6: so I didn't buy him the watch. It was originally

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Speaker 6: eight hundred dollars, then it went on sale for six hundred.

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Speaker 6: Then I did sending you online and found one on

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Speaker 6: being Lea for four ninety. So then I went to

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Speaker 6: Office Works to get the price match plus the additional

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Speaker 6: five percent off that they do. So all up, I

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Speaker 6: paid four hundred and seventy two dollars for a seven

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Speaker 6: hundred ninety nine Samsung Watch five Pro.

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Speaker 2: Hubby, you were super surprised. What a genius I run away, Yes.

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Speaker 4: But I didn't even know that there was an additional

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Speaker 4: five percent in Office Works. And I feel like Office

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Speaker 4: Works has all of these random things that I didn't

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Speaker 4: even know they sold.

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Speaker 2: Yeah, watches. Did you know office Works did watches? I

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Speaker 2: thought they just dedprinted.

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Speaker 5: I thought that they only sold humongous bags of mentos.

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Speaker 5: Oh my god, yeah, hit the giant tins of my

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Speaker 5: low Ye Why this is so deep.

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Speaker 4: I don't know it. It's commercial, it's meant to be feelings.

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Speaker 2: Yeah, okay, it's just for the office of the office. Yeah,

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Speaker 2: just clocked right now. Yeah, you're on all right, Jess.

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Speaker 2: I've got one serving size like this is my type

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Speaker 2: of mi loja. Finally someone sees, someone gets me.

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Speaker 6: My next money in comes from Debbie, who said, after

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Speaker 6: having me reconstructive surgery, my income protection insurance claim was

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Speaker 6: just approved. The recovery time for this surgery is twelve months.

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Speaker 6: The money is very much welcome.

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Speaker 2: What twelve months? Isn't that crazy? Oh my gosh, how awful.

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Speaker 6: Super awful and a really good example of why income

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Speaker 6: protection all of those insurances that I had never heard

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Speaker 6: of until I listened to this podcast are really important.

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Speaker 4: Now you have them because your boss is a bully.

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Speaker 2: Pretty much pretty much and sent me all up.

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Speaker 4: Quick note on that actually, because I feel like I've

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Speaker 4: gotten a lot of dms recently, because everyone seems to

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Speaker 4: be getting their finances in order and people are asking

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Speaker 4: me a lot, oh what do I do about my insurances?

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Speaker 4: Like you mentioned someone on a podcast at some point.

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Speaker 4: That person would have been Phil Thompson from Sky Wealth

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Speaker 4: and you can either go directly to him and be like,

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Speaker 4: okay the girls that she's on the money say that

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Speaker 4: you have to look after me, or you can actually

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Speaker 4: head to our website She's on the Money dot com

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Speaker 4: dot au and we can match you with somebody who

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Speaker 4: can help you out with your situation. So you can

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Speaker 4: go to that website and say I just want my

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Speaker 4: insurances sorted and will send you to the right person.

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Speaker 4: Or you might even want some financial advice and you'll

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Speaker 4: be like, okay, cool, Well I don't just want insurances,

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Speaker 4: I want financial advice and I really want to look

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Speaker 4: at everything holistically. And we have a whole panel of

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Speaker 4: people that we recommend, because, as you guys know, I'm

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Speaker 4: no longer a financial advisor, so I've had to bring

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Speaker 4: in all of my big dog friends to look after

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Speaker 4: you guys.

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Speaker 2: Really really good.

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Speaker 6: We'll pop a link in the show notes where you

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Speaker 6: can fill that out this week as well. My next

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Speaker 6: money win comes from Danny who said she got fifteen

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Speaker 6: free credit points from class Pass by threatening to cancel

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Speaker 6: her membership. That is Lovable Boy free Whole Polarates classes

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Speaker 6: for free. These classes are Speno two, very very expensive.

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Speaker 5: You can get a lot just by blackmailing on it.

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Speaker 5: And yeah, class past, I try.

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Speaker 2: Your bringing to the podcast in twenty twenty three. It's

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Speaker 2: not our that's not our angle, is it? No blackmailing?

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Speaker 5: Sorry, just I've noticed that with like I've tried to

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Speaker 5: join like Fitness First and stuff like this, and I

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Speaker 5: kind of if I'm sitting on the fence about it,

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Speaker 5: They'll send me.

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Speaker 2: Firstly like thirty dollars a week, and then it goes

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Speaker 2: down to twenty dollars a week, and then I'm just gonna.

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Speaker 5: Wait and wait and wait until it's really cheap and

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Speaker 5: then jump on it because I'm going to join either way,

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Speaker 5: but I'm waiting until.

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Speaker 2: It's real, real cheap.

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Speaker 5: She's a smart girl, so that's a money win, Class

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Speaker 5: pass gym, same same.

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Speaker 4: It reminds me of that movie that came out last

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Speaker 4: year called Queen Pins.

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Speaker 2: Do you remember that, Jess.

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Speaker 4: I feel like you'd be all over it, And if

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Speaker 4: you haven't seen it yet, I think it's on Prime

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Speaker 4: and given you the Queen of Amazon, I know that

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Speaker 4: you have Prime, sure, But it was all about these

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Speaker 4: people who were like super Coop honors over in the US,

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Speaker 4: and then they learned that you could complain and a

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Speaker 4: company would then send you a free product, so they

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Speaker 4: get the coop of the free product, and then they

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Speaker 4: started like reproducing them and printing.

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Speaker 2: Them holes to them, and then.

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Speaker 4: They were selling the coupons anyway. It was Yeah, I

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Speaker 4: know that's extreme coupon and gone scammers.

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Speaker 2: I just like Jess would love that. I have to

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Speaker 2: check it out. That's brilliant.

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Speaker 6: Speaking of dotty, actually, Andrew said she used her Flybys

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Speaker 6: dollars this week to pay for fuel, so she only

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Speaker 6: had to pay eight bucks.

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Speaker 4: Oh my gosh, and fuels so expensive at the moment.

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Speaker 2: Cross geez.

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Speaker 6: And my very last one that I have this week

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Speaker 6: is from Abby, she said, money Win. I recycled my

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Speaker 6: laptop through Apple's trading process and received a voucher to

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Speaker 6: spend with them, so pretty much got free AirPods that

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Speaker 6: are going to arrive tomorrow.

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Speaker 2: Money win.

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Speaker 4: Speaking of recycling, just was it you on TikTok the

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Speaker 4: other day that said that you can take your furniture

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Speaker 4: back to I Oh my.

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Speaker 2: Gosh, yes, how good is that? Yeah?

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Speaker 6: You can jump online and just they have like an estimator,

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Speaker 6: so you put in what furniture you have and it's.

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Speaker 4: My calic shelves. They are going home.

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Speaker 2: Laid to rest from whence they came?

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Speaker 4: All right, so what there's an estimator online.

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Speaker 6: Yeah, you pick the condition it's like kind of excellent, average, poor,

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Speaker 6: and I'll give you an estimation. I mean, you've had

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Speaker 6: it for ever, so that seems pretty fair.

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Speaker 2: That's thrifty. We love that.

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Speaker 6: And they'll give you an estimation what they think you're

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Speaker 6: gonna get back, and then you just take it straight in.

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Speaker 6: They'll have someone check it over and they're actually really

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Speaker 6: good because one of my things I had marked it

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Speaker 6: as I think average, and they're like, no, it's in

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Speaker 6: like great condition. We'll give you the higher price point.

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Speaker 6: So they actually check it properly and are like quite

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Speaker 6: generous with it, and then you just get about it.

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Speaker 6: I got two undred bucks back and that paid, Yeah,

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Speaker 6: paid for my new TV unit, and it meant that

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Speaker 6: I didn't have to get rid of the stuff and

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Speaker 6: it was a little bit easier than selling a marketplace,

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Speaker 6: which you know, I love. But coordinating with people, yeah,

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Speaker 6: huge pain in the ass. So just taking it straight

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Speaker 6: back to Ikea could be good.

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Speaker 2: I have a business idea.

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Speaker 4: You might like it. Beck, So what you're going to do?

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Speaker 4: Is you going to go on Facebook marketplace?

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Speaker 2: I had this thought. I was like, it might be

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Speaker 2: a little bit unethic.

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Speaker 4: Maybe I'll blame Jess nowhere we're going. I feel like

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Speaker 4: Jess and I live in the same blinked.

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Speaker 5: A certain way and just like, yeah, I get it.

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Speaker 1: Yeah.

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Speaker 4: It was my body twitch and she was like yeah, okay,

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Speaker 4: And though I know exactly.

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Speaker 6: Whereas three words, and I was like, I'm pretty sure.

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Speaker 4: I feel like this happens every day back But what

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Speaker 4: you do is you go on Facebook marketplace and find

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Speaker 4: all of the free pieces of furniture that ikea forniture

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Speaker 4: that people are trying to get rid of.

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Speaker 2: You take them to Ike Bank. That is so clever.

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Speaker 2: It's probably as well, Yeah.

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Speaker 4: It's probably not a good business idea since you only

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Speaker 4: get store credits. Yeah you could go along the Queen

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Speaker 4: Pins route and sell your store credits.

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Speaker 2: Yeah yeah, yeah.

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Speaker 5: I just feel like this buy for economy in here,

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Speaker 5: build it, sell it like oh I already you know

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Speaker 5: I already yeah, and then sell those brand new, great

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Speaker 5: condition and then you get money eventually.

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Speaker 2: I feel like that is very backwards.

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Speaker 4: I'm not going to go buy something brand new from

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Speaker 4: my key to make it to sell it back to

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Speaker 4: them at a loss. You are not in charge of

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Speaker 4: the financial playing in this situation. Let's go to a

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Speaker 4: really quick break and on the other side, we're gonna

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Speaker 4: talk about a juicy money dilemma, which this week is

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Speaker 4: all about buying property, and we're gonna unpack something that

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Speaker 4: a couple of you guys have slid into our dms

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Speaker 4: about recently, and that's the bank of Mum and Dad.

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Speaker 2: So don't go anywhere.

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Speaker 6: Welcome back, everybody. You know, I'm so about the property

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Speaker 6: journey right now. I'm so in the thick of our answer.

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Speaker 6: I'm pumped to hear this week's money dilemma, becau. Apparently

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Speaker 6: it's all about property.

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Speaker 2: It is.

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Speaker 4: Let's have a listen, Hi, there, have you got a

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Speaker 4: money dilemma you just can't solve? The She's on the

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Speaker 4: Money team is here to help.

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Speaker 2: Every week, we tackle.

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Speaker 4: Your dilemmas, both big and small, to answer your most

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Speaker 4: burning money, career and life questions. To get involved, simply

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Speaker 4: head to our website and leave us a short voice

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Speaker 4: recording and you might just find yourself on the show. Now,

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Speaker 4: let's take a listen to this week's money dilemma.

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Speaker 7: My partner I got married last year, so we are

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Speaker 7: starting to build our savings again as well as payoff

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Speaker 7: one of our credit cards. It's got about seven thousand

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Speaker 7: dollars on it. We are looking to buy a house

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Speaker 7: next year or the year after. We're just trying to

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Speaker 7: get a deposit together. And I was wondering how much

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Speaker 7: should we be looking at saving for this deposit and

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Speaker 7: when it is a good time to reach out in

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Speaker 7: regards to broker information or lending information. Thank you look

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Speaker 7: forward to hearing from you.

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Speaker 2: She sounds lovely.

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Speaker 4: Love This is a very good question and actually perfectly

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Speaker 4: timed because we have Kate, our resident mortgage broker from

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Speaker 4: Zella Money, coming on the show next week to talk

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Speaker 4: about buying property and what's going on in the property

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Speaker 4: market in twenty twenty three. But you know what, I

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Speaker 4: feel like the best person to directly talk about this

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Speaker 4: because you're on that journey right now, is you, Jess,

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Speaker 4: what are your recommendations?

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Speaker 6: I feel like there is no such thing as reaching

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Speaker 6: out to a broker to because I reached out when

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Speaker 6: I thought I was maybe kind of a year and

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Speaker 6: a halfish out from my journey, and turns out the

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Speaker 6: journey has been one longer than I'd hoped for, but

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Speaker 6: it was really helpful because it allowed me to firstly

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Speaker 6: find a broker that I liked, which wasn't something that

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Speaker 6: I anticipated having to do. And as you know we've

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Speaker 6: spoken about it before, I found how to jump through

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Speaker 6: a couple before I obviously ended up with Kate, who

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Speaker 6: is the best.

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Speaker 4: So you get that's what you get for trying to

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Speaker 4: keep it out of the business and out of work.

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Speaker 2: Yeah, not mix work and pleasure.

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Speaker 4: Turned out you should just be It turns out you

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Speaker 4: should just mix work and pleasure always you would have thought.

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Speaker 6: So that was a whole time thing that I didn't anticipate,

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Speaker 6: and then obviously just being able to prepare. So in

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Speaker 6: this situation, you can talk to a broker. They might say, hey, well,

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Speaker 6: you've got this credit card debt. It might be more

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Speaker 6: valuable for you to pay off that before you apply

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Speaker 6: for the loan, because maybe it's more detrimental than the

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Speaker 6: amount of money that you could get. Or maybe they

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Speaker 6: might say, oh, well, you think you need a ten

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Speaker 6: percent deposit, but actually there's this scheme that's just come

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Speaker 6: in and you only need five that you wouldn't have

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Speaker 6: known about. So I feel like it's better to talk

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Speaker 6: to you broker sooner than later because they just know

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Speaker 6: so much more than anybody else does, and they'll be

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Speaker 6: able to tell you what things you need to do

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Speaker 6: to get ready. They might be able to give you

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Speaker 6: a rough timeline and help you out, and then you

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Speaker 6: can kind of just touch base with them as you're going,

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Speaker 6: as Kate will attest to you, because at least once

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Speaker 6: a fortnight she gets to text from me being.

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Speaker 2: Like, Hey, what's up. Crazy question?

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Speaker 6: But and Urine, it's just helpful to be able to go, oh,

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Speaker 6: if I have a question, They're there to answer it

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Speaker 6: for you one hundred percent.

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Speaker 4: And I feel like a lot of people think that

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Speaker 4: they're a burden when they reach out and they're like,

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Speaker 4: but I'm not ready to buy. Like they're going to

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Speaker 4: think I'm wasting their time. It's like, no, I promise

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Speaker 4: a mortgage broker can actually sort out the people who

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Speaker 4: are legitimately on that property buying journey, even if they're

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Speaker 4: like two or three years out. And those people that

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Speaker 4: are time wasters, promise you that they it's not their

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Speaker 4: first rodeo.

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Speaker 2: But also, a mortgage.

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Speaker 4: Broker is actually going to love the fact that you're

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Speaker 4: there early. There's no time pressure, there's no you turning

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Speaker 4: up and being like, oh my gosh, Kate, I found

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Speaker 4: this house this weekend and I want to settle on it.

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Speaker 2: I want to put an offering that can be that's worse. Yeah,

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Speaker 2: that's worse.

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Speaker 4: Like that's scrambling to make things happen. And you know

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Speaker 4: a good broker will do that and bend over backwards

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Speaker 4: for you. But you know, Jess, we got you in

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Speaker 4: early so we could set up your cash flow and

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Speaker 4: set things up and make sure that you've dotted all

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Speaker 4: your eyes and crossed all your tea's because sometimes you

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00:17:16,080 --> 00:17:19,000
Speaker 4: just don't realize. Sometimes you'd go, oh, I didn't even

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Speaker 4: know that was a thing, And just like you said,

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Speaker 4: sometimes a broker's going to go, oh, Jess, did you

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Speaker 4: actually know you could buy.

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Speaker 2: Now instead of later?

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Speaker 4: Like you don't need that twenty percent deposit that you're

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Speaker 4: working towards. So the question here was like how much

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Speaker 4: should I be saving? Well, I can't tell you that

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Speaker 4: because I don't know the semantics of your situation. I

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Speaker 4: don't know how much you're buying for, how much your

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Speaker 4: combined income is, what your expenses are, or what your

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Speaker 4: life looks like, or even where you're going to be purchasing,

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Speaker 4: because it will really depend on location too, because sometimes

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Speaker 4: you need a high deposit for different locations around Australia,

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Speaker 4: which is wild to think about, but I do think

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Speaker 4: you should get in touch with a mortgage broker. And

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Speaker 4: one thing that we find really helpful, and Jess you've

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Speaker 4: been through this is the hour of power with our

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Speaker 4: Zella Money team, where they'll actually sit you down and

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Speaker 4: instead of just having a normal broken conversation, they'll sit

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Speaker 4: down and go all right, Beck, where are we at?

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Speaker 4: What are your goals? And actually instead of sitting down

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Speaker 4: and just doing your borrowing capacity, they'll actually help you

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Speaker 4: set up a budget and a cash flow that gets

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Speaker 4: you to the goal that you're working towards and give

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Speaker 4: you a lot more accountability and a cash flow system

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Speaker 4: that works and something that's actually going to help you

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Speaker 4: on that journey. It's a lot more hands on. But

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Speaker 4: if you're in that position where you're like I'm not

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Speaker 4: really sure what I'm doing or where I'm going, and

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Speaker 4: I want to talk to a broker, but I don't

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Speaker 4: even know what I want to buy, maybe an hour

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Speaker 4: of power. Session is going to you know, turbo charge

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Speaker 4: that journey and actually give you the clarity you're looking for.

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Speaker 2: Yeah, all right, let's move on from that.

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Speaker 4: As much as I love talking about property, there's going

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Speaker 4: to be a lot of it next week. Let's move

441
00:18:47,800 --> 00:18:50,560
Speaker 4: on to our community concern because this week we're unpacking

442
00:18:50,600 --> 00:18:53,000
Speaker 4: something that you guys slid into our DMS about, which

443
00:18:53,040 --> 00:18:55,240
Speaker 4: is the bank of Mum and Dad. So I want

444
00:18:55,240 --> 00:18:58,680
Speaker 4: to talk about it. The message that we got was hello, ladies,

445
00:18:58,880 --> 00:18:59,520
Speaker 4: hoping for a.

446
00:18:59,440 --> 00:19:00,560
Speaker 2: Little bit of here.

447
00:19:00,840 --> 00:19:02,760
Speaker 4: I'm struggling to come to terms with a friend of

448
00:19:02,800 --> 00:19:05,840
Speaker 4: mine who just gets handouts from her parents left, right

449
00:19:05,920 --> 00:19:08,439
Speaker 4: and center. I have to work really hard to be

450
00:19:08,480 --> 00:19:11,119
Speaker 4: able to afford a new dress or even a bottomless brunch,

451
00:19:11,200 --> 00:19:13,120
Speaker 4: and she can just message her dad and say I'm

452
00:19:13,160 --> 00:19:15,000
Speaker 4: out of money, can you pay for my brunch? And

453
00:19:15,040 --> 00:19:18,480
Speaker 4: he'll just transfer her money. I know that's not her fault.

454
00:19:18,640 --> 00:19:21,159
Speaker 4: I'm battling with my own feelings of jealousy as I

455
00:19:21,240 --> 00:19:24,199
Speaker 4: wish it came that easy for me too sometimes. But

456
00:19:24,280 --> 00:19:26,840
Speaker 4: I was just wondering if you guys had any pointers

457
00:19:26,880 --> 00:19:29,679
Speaker 4: for navigating the feelings I'm having around money.

458
00:19:30,680 --> 00:19:32,560
Speaker 2: Beck. You see infuriated.

459
00:19:33,359 --> 00:19:35,840
Speaker 5: No, I just I relate to this so much. It's

460
00:19:35,880 --> 00:19:38,280
Speaker 5: such a hard thing to balance because I, on the

461
00:19:38,280 --> 00:19:41,240
Speaker 5: one hand, want to be so happy for my friends

462
00:19:41,280 --> 00:19:44,280
Speaker 5: who either like you know, get inheritance. It doesn't have

463
00:19:44,320 --> 00:19:46,080
Speaker 5: to be from their mum and dad, just anyone in

464
00:19:46,119 --> 00:19:48,760
Speaker 5: their family who has the ability to one day give

465
00:19:48,800 --> 00:19:51,000
Speaker 5: the money to one day by house. I know that

466
00:19:51,040 --> 00:19:53,800
Speaker 5: I'll never no matter what why you look at my life,

467
00:19:53,800 --> 00:19:57,000
Speaker 5: I'm never ever going to have that, And so I'm

468
00:19:57,119 --> 00:20:02,040
Speaker 5: constantly weighing up like feeling so were not good about it,

469
00:20:02,080 --> 00:20:03,960
Speaker 5: feeling like oh my god, I wish I had that,

470
00:20:04,320 --> 00:20:07,639
Speaker 5: but then genuinely being happy. And then also, if you

471
00:20:07,680 --> 00:20:11,280
Speaker 5: look past my friend who just receivalless money, you're looking

472
00:20:11,320 --> 00:20:15,800
Speaker 5: at an adult who purposely wanted this for their future

473
00:20:15,880 --> 00:20:19,640
Speaker 5: children or grandchildren. So good on them for being able

474
00:20:19,640 --> 00:20:22,480
Speaker 5: to make that happen. It's just a very I totally

475
00:20:22,560 --> 00:20:23,359
Speaker 5: know that feeling of being.

476
00:20:23,359 --> 00:20:25,920
Speaker 4: So juxtaposition right, but you want to feel good for them,

477
00:20:25,920 --> 00:20:28,000
Speaker 4: but then you're also low key envious, But then you're

478
00:20:28,000 --> 00:20:30,080
Speaker 4: also like, why shouldn't you work as hard as I

479
00:20:30,240 --> 00:20:32,560
Speaker 4: do for this? But then you can also see that

480
00:20:32,640 --> 00:20:34,360
Speaker 4: if their parents have set them up in that way,

481
00:20:34,440 --> 00:20:36,520
Speaker 4: like they're getting a lot of gratification out of it.

482
00:20:36,520 --> 00:20:39,040
Speaker 4: It must be really hard, Jess. Is this something that

483
00:20:39,080 --> 00:20:41,520
Speaker 4: you see in you know, friendship groups around you.

484
00:20:41,840 --> 00:20:43,480
Speaker 2: It's not super common.

485
00:20:43,560 --> 00:20:45,400
Speaker 6: I think the friends that I have, none of them

486
00:20:45,560 --> 00:20:48,640
Speaker 6: are ones that sound like this person where they're I guess,

487
00:20:48,680 --> 00:20:51,000
Speaker 6: taking advantage of it. But I do have friends who

488
00:20:51,040 --> 00:20:53,560
Speaker 6: have found themselves in situations where they've you know, things

489
00:20:53,560 --> 00:20:55,680
Speaker 6: have been really tight, and they have asked their parents

490
00:20:55,720 --> 00:20:57,480
Speaker 6: for help and their parents have been able to and

491
00:20:57,520 --> 00:21:00,000
Speaker 6: I agree, like, I've never received money for my parents.

492
00:21:00,040 --> 00:21:02,240
Speaker 6: I never will receive money from my parents. And it's

493
00:21:02,280 --> 00:21:04,920
Speaker 6: one of those things where you kind of go, it's

494
00:21:04,920 --> 00:21:05,840
Speaker 6: like an equity thing.

495
00:21:05,880 --> 00:21:06,160
Speaker 2: I guess.

496
00:21:06,240 --> 00:21:09,159
Speaker 6: You go, oh, like, I love my family, and you know,

497
00:21:09,600 --> 00:21:12,919
Speaker 6: it's really hard to think about some families generationally have

498
00:21:13,040 --> 00:21:16,480
Speaker 6: created that wealth and have you know, potentially really thought

499
00:21:16,480 --> 00:21:18,679
Speaker 6: about setting their kids up and doing those things. And

500
00:21:18,720 --> 00:21:21,040
Speaker 6: if you're from a family where maybe that was in

501
00:21:21,160 --> 00:21:23,240
Speaker 6: a position they were able to be and it's not

502
00:21:23,280 --> 00:21:25,480
Speaker 6: because they didn't love you, but it is also hard

503
00:21:25,520 --> 00:21:28,080
Speaker 6: because you go, oh, well, this person gets opportunities that

504
00:21:28,160 --> 00:21:29,640
Speaker 6: I don't know if I had that money, I could

505
00:21:29,680 --> 00:21:31,919
Speaker 6: do this, and you know, it is really tough to

506
00:21:32,000 --> 00:21:35,520
Speaker 6: I guess, balance the emotional side of it and feeling

507
00:21:35,600 --> 00:21:37,800
Speaker 6: like you're lesser than or that your family is lesser than,

508
00:21:38,160 --> 00:21:40,439
Speaker 6: when really it's just the card of hands that a

509
00:21:40,440 --> 00:21:42,560
Speaker 6: lot of people would dealt and there's nothing that you

510
00:21:42,560 --> 00:21:45,160
Speaker 6: can do about that. But I feel like she's being

511
00:21:45,240 --> 00:21:47,679
Speaker 6: very self aware, like she's saying, oh my gosh, how

512
00:21:48,000 --> 00:21:49,760
Speaker 6: to deal with this exactly, which I think is a

513
00:21:49,800 --> 00:21:52,200
Speaker 6: really great thing, because if you let those feelings sit,

514
00:21:52,320 --> 00:21:53,480
Speaker 6: it just makes you feel.

515
00:21:53,320 --> 00:21:54,200
Speaker 2: Icky and gross.

516
00:21:55,000 --> 00:21:57,280
Speaker 4: And it seems really common because we took it to

517
00:21:57,359 --> 00:21:59,800
Speaker 4: you guys and asked you and did a few polls online.

518
00:22:00,080 --> 00:22:02,120
Speaker 4: We said, do you have a friend that benefits from

519
00:22:02,160 --> 00:22:04,959
Speaker 4: the bank of mum and dad? And sixty seven percent

520
00:22:05,000 --> 00:22:07,560
Speaker 4: of you said yes, which it's not.

521
00:22:07,520 --> 00:22:08,080
Speaker 2: A bad thing.

522
00:22:08,119 --> 00:22:10,280
Speaker 4: And I think that what we need to really outline

523
00:22:10,320 --> 00:22:13,080
Speaker 4: here is this is not a conversation of judgment, because,

524
00:22:13,119 --> 00:22:15,840
Speaker 4: as you said before, Beck, like you know, parents have

525
00:22:15,920 --> 00:22:19,040
Speaker 4: planned for that, or there might be intergenerational wealth at play,

526
00:22:19,200 --> 00:22:22,520
Speaker 4: someone at some point has worked really hard, so that

527
00:22:22,600 --> 00:22:25,920
Speaker 4: situation can occur. But I think it can be really

528
00:22:25,920 --> 00:22:28,320
Speaker 4: hard when you're comparing yourself in This plays into the

529
00:22:28,320 --> 00:22:32,959
Speaker 4: conversation of comparison culture, right, and like me seeing Jess's

530
00:22:32,960 --> 00:22:36,040
Speaker 4: situation being like, oh, I'm so envious of everything she does.

531
00:22:36,080 --> 00:22:38,199
Speaker 4: But then Jess, you know, maybe looking back at me

532
00:22:38,320 --> 00:22:40,920
Speaker 4: and going, well, I'm envious of stuff you're doing, when

533
00:22:40,920 --> 00:22:43,480
Speaker 4: in reality we should be sticking to our own lanes

534
00:22:43,520 --> 00:22:46,680
Speaker 4: and seeing our own finances and seeing our own situations

535
00:22:46,680 --> 00:22:49,160
Speaker 4: for what they are instead of what could have been

536
00:22:49,280 --> 00:22:51,760
Speaker 4: or what might have been if our situations were different,

537
00:22:51,760 --> 00:22:54,040
Speaker 4: because that doesn't change anything. Like you and I could

538
00:22:54,040 --> 00:22:55,800
Speaker 4: sit here all day and talk about like, oh, well,

539
00:22:55,840 --> 00:22:58,560
Speaker 4: what if we got massive inheritances and no one at

540
00:22:58,560 --> 00:23:00,800
Speaker 4: this table is going to be in that position, Like

541
00:23:00,840 --> 00:23:02,960
Speaker 4: it's just not who we are, it's not the families

542
00:23:03,000 --> 00:23:05,320
Speaker 4: that we come from, and that's totally okay, But we

543
00:23:05,320 --> 00:23:07,320
Speaker 4: could talk about it all day, like what would you

544
00:23:07,520 --> 00:23:09,159
Speaker 4: do with a million dollars? Or what would you do

545
00:23:09,280 --> 00:23:11,280
Speaker 4: or what would you do back if your parents helped

546
00:23:11,280 --> 00:23:14,119
Speaker 4: you buy a hat? Like it's nice to sometimes have

547
00:23:14,240 --> 00:23:17,639
Speaker 4: conversations that are aspirational, but I don't believe that's aspirational

548
00:23:17,680 --> 00:23:20,680
Speaker 4: because it can't happen. So why are we hindering ourselves

549
00:23:20,680 --> 00:23:24,000
Speaker 4: with these ideas and thoughts. Instead, why don't we go, oh,

550
00:23:24,040 --> 00:23:26,160
Speaker 4: they've bought a house and like they got a leg up.

551
00:23:26,400 --> 00:23:28,439
Speaker 4: But you know what, I live in Australia, I have

552
00:23:28,520 --> 00:23:30,840
Speaker 4: a good job. How can I do that for myself?

553
00:23:30,960 --> 00:23:31,040
Speaker 1: Like?

554
00:23:31,160 --> 00:23:33,800
Speaker 4: Is that not something that we should be rewarding more

555
00:23:33,880 --> 00:23:37,359
Speaker 4: or celebrating more? Like, yeah, I know that every single

556
00:23:37,440 --> 00:23:40,760
Speaker 4: house purchase or every single financial goal in our community

557
00:23:40,760 --> 00:23:43,680
Speaker 4: that's achieved is for the greater good. And it's kind

558
00:23:43,680 --> 00:23:45,720
Speaker 4: of like that quote that we talk about all the time,

559
00:23:45,760 --> 00:23:48,800
Speaker 4: a rising tide lift soul ships. But I think we

560
00:23:48,880 --> 00:23:51,280
Speaker 4: really need to go back to where we come from

561
00:23:51,320 --> 00:23:53,919
Speaker 4: and go is that constructive for us to talk about this?

562
00:23:54,119 --> 00:23:55,639
Speaker 4: Is that actually, you know, going to put me in

563
00:23:55,640 --> 00:23:58,199
Speaker 4: a better place having had this conversation? Or should I

564
00:23:58,200 --> 00:24:01,360
Speaker 4: be channeling my efforts into something that I can actually

565
00:24:01,440 --> 00:24:04,360
Speaker 4: change or that I have power over? And the easiest

566
00:24:04,359 --> 00:24:07,080
Speaker 4: way to be disheartened about a circumstance or any type

567
00:24:07,080 --> 00:24:09,800
Speaker 4: of situation is to put yourself in a situation where

568
00:24:09,880 --> 00:24:12,639
Speaker 4: you know that that's not achievable. It feels like trash.

569
00:24:12,760 --> 00:24:14,000
Speaker 2: Yeah, like it feels awful.

570
00:24:14,040 --> 00:24:16,119
Speaker 4: The second I start being like, oh, beck, so you

571
00:24:16,119 --> 00:24:17,879
Speaker 4: won't get an inheritance. What are you going to do

572
00:24:17,920 --> 00:24:21,040
Speaker 4: about that? That's a trash conversation to have. Let's not

573
00:24:21,119 --> 00:24:22,640
Speaker 4: have it, Beck, what are you going to do? Oh

574
00:24:22,640 --> 00:24:25,800
Speaker 4: my gosh, you've talked about on the podcast being bankrupt before,

575
00:24:25,880 --> 00:24:28,119
Speaker 4: and now you know before this episode, Beck and I

576
00:24:28,119 --> 00:24:30,400
Speaker 4: were having a good conversation about credit scores and how

577
00:24:30,400 --> 00:24:32,159
Speaker 4: to build yours up, and I think you didn't realize

578
00:24:32,200 --> 00:24:34,800
Speaker 4: how good of a position you were in. And I

579
00:24:34,840 --> 00:24:37,359
Speaker 4: think it's how do we build you up to put

580
00:24:37,400 --> 00:24:39,600
Speaker 4: you in the best possible position because we don't all

581
00:24:39,600 --> 00:24:40,800
Speaker 4: have the same start point.

582
00:24:40,960 --> 00:24:42,760
Speaker 5: That's so true and it is something that I'm learning.

583
00:24:43,040 --> 00:24:45,760
Speaker 5: It is possible no matter where you start, no matter

584
00:24:46,119 --> 00:24:50,600
Speaker 5: how far back you've gone, it's possible to better your

585
00:24:50,760 --> 00:24:51,520
Speaker 5: money situation.

586
00:24:51,800 --> 00:24:55,840
Speaker 2: And that is huge. I write abundance mindset. I love it. Yeah,

587
00:24:55,840 --> 00:24:56,400
Speaker 2: what do you reckon?

588
00:24:56,480 --> 00:24:59,119
Speaker 4: I actually wrote something down this morning as I was

589
00:24:59,359 --> 00:25:03,280
Speaker 4: drying my and I was thinking about this idea because

590
00:25:03,480 --> 00:25:06,520
Speaker 4: someone on TikTok responded to one of my videos and

591
00:25:06,560 --> 00:25:09,040
Speaker 4: we're like, oh, what's the point. It's fifty bucks a month.

592
00:25:09,080 --> 00:25:10,879
Speaker 4: It's not actually going to put you in a position

593
00:25:10,920 --> 00:25:13,520
Speaker 4: where you have millions to retire, Like what's the point?

594
00:25:13,680 --> 00:25:16,879
Speaker 4: I was just like, what isn't the point? Like every

595
00:25:16,960 --> 00:25:19,720
Speaker 4: step in the right direction is a step that is

596
00:25:19,760 --> 00:25:23,120
Speaker 4: going to put you ahead. And by not taking any

597
00:25:23,160 --> 00:25:25,080
Speaker 4: action at all and being like, what's the point, you're

598
00:25:25,119 --> 00:25:29,800
Speaker 4: actually securing your worst possible fate, Like instead of saying, oh, yeah, well,

599
00:25:29,840 --> 00:25:32,400
Speaker 4: actually I do do ten dollars a month and it's

600
00:25:32,440 --> 00:25:34,840
Speaker 4: working towards my financial future at the end of that,

601
00:25:35,359 --> 00:25:38,240
Speaker 4: is that not better than having nothing at all because

602
00:25:38,240 --> 00:25:40,280
Speaker 4: you didn't take action? And I feel like it's such

603
00:25:40,280 --> 00:25:44,600
Speaker 4: a gen z and millennial tone of voice. I suppose

604
00:25:44,720 --> 00:25:46,879
Speaker 4: to go, well, what's the point we'll never buy a house,

605
00:25:47,160 --> 00:25:49,679
Speaker 4: or what's the point you know everybody else has it

606
00:25:49,720 --> 00:25:52,240
Speaker 4: given to them, or what's the point my friend's mum

607
00:25:52,320 --> 00:25:53,359
Speaker 4: gives her everything?

608
00:25:53,480 --> 00:25:54,840
Speaker 2: Like that's not the point.

609
00:25:54,920 --> 00:25:57,280
Speaker 4: Isn't every step in the right direction a step in

610
00:25:57,320 --> 00:25:59,560
Speaker 4: the right direction? And shouldn't we be seeing it for

611
00:25:59,600 --> 00:26:02,960
Speaker 4: what it is? Like even if you invest over your

612
00:26:03,119 --> 00:26:06,040
Speaker 4: entire lifetime and you're like, okay, cool, V I only

613
00:26:06,119 --> 00:26:08,080
Speaker 4: have twenty bucks a month, but I've been doing that

614
00:26:08,240 --> 00:26:10,520
Speaker 4: since I was eighteen, it's going to put me in

615
00:26:10,560 --> 00:26:13,119
Speaker 4: a position where I have, you know, three hundred thousand

616
00:26:13,119 --> 00:26:15,320
Speaker 4: dollars more than I was going to have had I not.

617
00:26:15,920 --> 00:26:17,520
Speaker 4: Some people might see it and be like, but you

618
00:26:17,640 --> 00:26:20,600
Speaker 4: need millions to retire. Isn't three hundred thousand dollars a

619
00:26:20,600 --> 00:26:23,200
Speaker 4: lot more than what you didn't have already?

620
00:26:23,920 --> 00:26:24,640
Speaker 2: But do you know what I mean?

621
00:26:24,680 --> 00:26:26,880
Speaker 4: It blows my mind that there's this idea of well

622
00:26:26,920 --> 00:26:29,200
Speaker 4: why bother? And I feel like the bank of Mum

623
00:26:29,200 --> 00:26:31,240
Speaker 4: and Dad complained to that because you see your friends

624
00:26:31,240 --> 00:26:33,879
Speaker 4: and you see this comparison culture, and you immediately go, well,

625
00:26:33,880 --> 00:26:36,840
Speaker 4: what's the point. They've got everything given to them, Why

626
00:26:36,840 --> 00:26:38,880
Speaker 4: should I even bother? I don't have that, like, I'm

627
00:26:38,920 --> 00:26:41,639
Speaker 4: never going to be successful, And it blows my mind.

628
00:26:41,920 --> 00:26:43,840
Speaker 6: What did the people say? What did everyone else kind

629
00:26:43,840 --> 00:26:45,360
Speaker 6: of think? Were they on the same wavelengths?

630
00:26:45,560 --> 00:26:46,520
Speaker 2: They absolutely were.

631
00:26:46,560 --> 00:26:48,399
Speaker 4: It's actually a little bit colorful, and this week we

632
00:26:48,520 --> 00:26:51,560
Speaker 4: got a few more emotional responses than we usually get.

633
00:26:51,800 --> 00:26:54,359
Speaker 4: So someone said, this was something I realized when I

634
00:26:54,400 --> 00:26:57,439
Speaker 4: started work, and it made me feel better about not

635
00:26:57,560 --> 00:27:00,240
Speaker 4: comparing myself to others when I learned how much into

636
00:27:00,240 --> 00:27:03,199
Speaker 4: generational wealth has helped some people. And that's from somebody

637
00:27:03,200 --> 00:27:06,480
Speaker 4: who is in a state planning lawyer. Someone said, my

638
00:27:06,560 --> 00:27:09,199
Speaker 4: parents helped me with money to get a property at

639
00:27:09,240 --> 00:27:12,160
Speaker 4: twenty four that I live in Now. I actually feel

640
00:27:12,160 --> 00:27:15,280
Speaker 4: really guilty as I've avoided the rental crisis and that's

641
00:27:15,320 --> 00:27:17,200
Speaker 4: not something I can say is true for my friends.

642
00:27:17,520 --> 00:27:19,600
Speaker 6: Yeah, I guess as the flip side of that, hey, Like,

643
00:27:20,240 --> 00:27:22,880
Speaker 6: I mean, some people probably aren't selfware enough to realize

644
00:27:22,920 --> 00:27:25,240
Speaker 6: the impact that they're having on their friends by being privileged.

645
00:27:25,240 --> 00:27:27,400
Speaker 6: But for some people, maybe they feel awkward about it too.

646
00:27:27,640 --> 00:27:29,880
Speaker 4: Yeah, I live in this world where I just don't

647
00:27:29,880 --> 00:27:33,040
Speaker 4: think privilege shouldn't exist. I think that if we are

648
00:27:33,080 --> 00:27:35,440
Speaker 4: going to have privilege existing, we actually just need to

649
00:27:35,440 --> 00:27:38,600
Speaker 4: be acknowledging it. Like I am privileged because I am

650
00:27:38,640 --> 00:27:40,960
Speaker 4: a white woman who grew up in Australia and had

651
00:27:41,000 --> 00:27:44,080
Speaker 4: every opportunity thrown at her. Yes, I didn't come from

652
00:27:44,080 --> 00:27:47,760
Speaker 4: intergenerational wealth, but like I had super supportive parents and

653
00:27:47,800 --> 00:27:50,680
Speaker 4: I went to a good school, and those things at

654
00:27:50,680 --> 00:27:54,280
Speaker 4: a base level are I guess, gratuities or things that

655
00:27:54,359 --> 00:27:57,159
Speaker 4: weren't extended to other people in our community. And I

656
00:27:57,200 --> 00:27:59,600
Speaker 4: think that we need to regardless of what our level

657
00:27:59,600 --> 00:28:01,399
Speaker 4: of privilege, we need to acknowledge that and if it

658
00:28:01,400 --> 00:28:03,639
Speaker 4: happens to be you've got into generational wealth. Great, like

659
00:28:04,080 --> 00:28:06,159
Speaker 4: be self aware of it. I think if we like

660
00:28:06,280 --> 00:28:09,199
Speaker 4: shifted this conversation a bit and your friend in this

661
00:28:09,359 --> 00:28:12,920
Speaker 4: circumstance was a bit more self aware, maybe that wouldn't

662
00:28:12,920 --> 00:28:14,679
Speaker 4: make you feel as bad if your friend was like,

663
00:28:14,720 --> 00:28:17,080
Speaker 4: oh my gosh, yes, or maybe was a little bit

664
00:28:17,080 --> 00:28:19,160
Speaker 4: more sneaky about it, unless like, oh, I just get

665
00:28:19,200 --> 00:28:20,680
Speaker 4: mum and dad to pay for it, do you know

666
00:28:20,760 --> 00:28:22,600
Speaker 4: what I mean? Like, I feel like it's the conversation

667
00:28:22,760 --> 00:28:26,840
Speaker 4: around it because having grown up in an area where

668
00:28:27,280 --> 00:28:30,840
Speaker 4: we weren't wealthy, but there were a lot of wealthy people,

669
00:28:30,880 --> 00:28:33,040
Speaker 4: Like I remember talking to my parents and then being like, yep,

670
00:28:33,040 --> 00:28:34,600
Speaker 4: we're not going to be able to afford to purchase

671
00:28:34,640 --> 00:28:36,520
Speaker 4: you your first card, and I was like, yep, of course.

672
00:28:36,320 --> 00:28:37,160
Speaker 2: I'll work for that.

673
00:28:37,520 --> 00:28:39,800
Speaker 4: And then you know, going to school and one of

674
00:28:39,800 --> 00:28:42,080
Speaker 4: the girls I went to school with having been given

675
00:28:42,120 --> 00:28:46,120
Speaker 4: a brand new BMW for her sixteen mile said, but

676
00:28:46,160 --> 00:28:49,040
Speaker 4: I remember that juxtaposition of being like, wow, like she

677
00:28:49,200 --> 00:28:51,320
Speaker 4: has this, and you know, my parents have said that

678
00:28:51,360 --> 00:28:52,800
Speaker 4: I need to save and Mum and dad were like,

679
00:28:52,800 --> 00:28:54,320
Speaker 4: can you know we can match you to this and

680
00:28:54,360 --> 00:28:54,960
Speaker 4: help you.

681
00:28:54,840 --> 00:28:56,880
Speaker 2: And like my parents were so good.

682
00:28:57,680 --> 00:29:00,840
Speaker 4: But you know, even then, you just feel a bit like, oh, like,

683
00:29:01,240 --> 00:29:04,760
Speaker 4: how does this happen? Yeah, but that person never acknowledged

684
00:29:04,760 --> 00:29:07,840
Speaker 4: their privilege, and I think that makes it worse, Like

685
00:29:07,880 --> 00:29:11,040
Speaker 4: that makes it feel weird, as though they deserve it. Yeah,

686
00:29:11,080 --> 00:29:14,400
Speaker 4: like that's not the case at all. Someone else said

687
00:29:14,760 --> 00:29:18,240
Speaker 4: good communication always goes a long way, which I think

688
00:29:18,320 --> 00:29:21,680
Speaker 4: was really good. Someone said, this happened with my partner.

689
00:29:21,800 --> 00:29:24,560
Speaker 4: She doesn't understand my upbringing with money, and it can

690
00:29:24,600 --> 00:29:28,000
Speaker 4: cause drama because I feel especially guilty because she got

691
00:29:28,040 --> 00:29:31,200
Speaker 4: her unifees paid for and has family savings and doesn't

692
00:29:31,240 --> 00:29:34,640
Speaker 4: have to worry at all. Yeah, like that's so true, right,

693
00:29:34,960 --> 00:29:36,920
Speaker 4: Like I don't know about you, guys. Beck, you would

694
00:29:36,960 --> 00:29:38,520
Speaker 4: be exactly the same as me. You just had to

695
00:29:38,560 --> 00:29:40,960
Speaker 4: go to work the second you got to an age

696
00:29:40,960 --> 00:29:43,520
Speaker 4: where you could earn go to work exactly, Like that's

697
00:29:43,560 --> 00:29:46,520
Speaker 4: how it's gonna work for you. Another person said, when

698
00:29:46,520 --> 00:29:49,400
Speaker 4: my friend's parents are guarantees on their property loans and

699
00:29:49,440 --> 00:29:53,000
Speaker 4: my parents won't offer to it makes me feel like trash,

700
00:29:53,240 --> 00:29:56,719
Speaker 4: Like that's really hard. Someone else said, well, it's not

701
00:29:56,760 --> 00:29:59,479
Speaker 4: really teaching her the reality of the world. Yeah, but

702
00:29:59,720 --> 00:30:03,440
Speaker 4: I argue that's the reality of her world exactly, like,

703
00:30:03,560 --> 00:30:07,720
Speaker 4: and that's not the reality. Like just because another reality

704
00:30:07,760 --> 00:30:10,000
Speaker 4: exists doesn't mean you have to experience it for it

705
00:30:10,040 --> 00:30:13,400
Speaker 4: to be true exactly. Someone said, I'm very transparent with

706
00:30:13,440 --> 00:30:15,920
Speaker 4: my close friends about how my parents really support me

707
00:30:16,040 --> 00:30:18,400
Speaker 4: and lend me, slash give me money, which I think

708
00:30:18,480 --> 00:30:21,000
Speaker 4: is really good. And I think if you're in that circumstance,

709
00:30:21,480 --> 00:30:23,720
Speaker 4: can we just be transparent about it? Yeah, Like, if

710
00:30:23,720 --> 00:30:27,560
Speaker 4: your parents are being guarantores on your property, I know

711
00:30:27,760 --> 00:30:30,360
Speaker 4: that sometimes people feel a little bit guilty, like a

712
00:30:30,360 --> 00:30:32,800
Speaker 4: little bit like, oh, I don't want to tell anybody

713
00:30:32,880 --> 00:30:35,160
Speaker 4: because like I want people to know that I worked

714
00:30:35,200 --> 00:30:37,800
Speaker 4: really hard for this, because sometimes I feel like if

715
00:30:37,800 --> 00:30:41,440
Speaker 4: you admit that you had a guaranteur, it's diminishing the

716
00:30:41,480 --> 00:30:45,280
Speaker 4: efforts that you put towards getting that property. And I'm

717
00:30:45,280 --> 00:30:48,320
Speaker 4: not saying that it does at all, but it also

718
00:30:48,400 --> 00:30:50,960
Speaker 4: diminishes the feelings of your friends if you don't admit

719
00:30:51,040 --> 00:30:53,360
Speaker 4: to them how you somehow came up with a two

720
00:30:53,440 --> 00:30:56,840
Speaker 4: hundred and fifty thousand dollars deposit when they're scrambling to

721
00:30:56,880 --> 00:30:59,200
Speaker 4: get their first one hundred grand together as a couple.

722
00:30:59,520 --> 00:31:00,720
Speaker 2: Does that make so it.

723
00:31:00,760 --> 00:31:02,680
Speaker 4: Can feel like, oh wow, I didn't even know they

724
00:31:02,720 --> 00:31:04,160
Speaker 4: was saving for a house, and all of a sudden,

725
00:31:04,280 --> 00:31:06,160
Speaker 4: they've got a one point two million dollar property with

726
00:31:06,200 --> 00:31:06,640
Speaker 4: their partner.

727
00:31:06,680 --> 00:31:07,720
Speaker 2: What How did this happen?

728
00:31:07,880 --> 00:31:08,000
Speaker 1: Like?

729
00:31:08,360 --> 00:31:10,360
Speaker 4: Oh yeah, like we've just been saving what.

730
00:31:11,080 --> 00:31:13,920
Speaker 6: Yeah, it makes it go both ways. My favorite response

731
00:31:13,960 --> 00:31:16,600
Speaker 6: that I saw said transparency helps. When my friends started

732
00:31:16,640 --> 00:31:19,200
Speaker 6: buying one point five million dollar properties, I was shocked,

733
00:31:19,440 --> 00:31:21,560
Speaker 6: But then when I asked if they had family help,

734
00:31:21,720 --> 00:31:24,680
Speaker 6: most of them did. It made me feel better knowing

735
00:31:24,720 --> 00:31:26,880
Speaker 6: what had happened. And after talking to one of my friends,

736
00:31:26,880 --> 00:31:28,880
Speaker 6: she was self aware of the privilege and it made

737
00:31:28,960 --> 00:31:32,440
Speaker 6: us feel so much closer having that conversation. I think

738
00:31:32,480 --> 00:31:35,800
Speaker 6: this person, aka the person who DMed us, needs to

739
00:31:36,000 --> 00:31:38,120
Speaker 6: talk to her friend about how she feels and maybe

740
00:31:38,160 --> 00:31:41,040
Speaker 6: even set some boundaries around what activities they can do together.

741
00:31:41,160 --> 00:31:43,760
Speaker 6: If she's feeling like there's a bit of financial stress

742
00:31:43,800 --> 00:31:45,880
Speaker 6: on her because she has less money than her friend

743
00:31:45,960 --> 00:31:48,840
Speaker 6: or less room in her budget. Otherwise, just being open

744
00:31:48,880 --> 00:31:50,920
Speaker 6: about it might help the friendship. It's hard to tell

745
00:31:50,960 --> 00:31:53,000
Speaker 6: if the rich friend here is being ignorant or if

746
00:31:53,000 --> 00:31:54,400
Speaker 6: she's just pressuring her to keep up.

747
00:31:54,680 --> 00:31:57,240
Speaker 4: Yeah, one hundred percent, And I think the crux of

748
00:31:57,320 --> 00:32:01,160
Speaker 4: this conversation is comparison is the thief of joy, and

749
00:32:01,280 --> 00:32:05,680
Speaker 4: we absolutely should not be comparing ourselves to anybody else's circumstances.

750
00:32:06,040 --> 00:32:08,840
Speaker 4: But then also acknowledging that maybe there is some family

751
00:32:08,880 --> 00:32:11,920
Speaker 4: help there sometimes that you don't even see. And it's

752
00:32:11,920 --> 00:32:15,000
Speaker 4: also that crash landing pad, right, Like you see friends

753
00:32:15,040 --> 00:32:17,280
Speaker 4: who do rely on their parents, they might be more

754
00:32:17,360 --> 00:32:20,520
Speaker 4: likely to take on risks because they know, like if

755
00:32:20,560 --> 00:32:23,400
Speaker 4: everything fails and if I blow the budget, and like

756
00:32:23,480 --> 00:32:25,960
Speaker 4: I go to Europe and I come home with absolutely nothing,

757
00:32:26,000 --> 00:32:28,200
Speaker 4: Mum and dad will look after me. Whereas that's not

758
00:32:28,240 --> 00:32:30,640
Speaker 4: the reality for a lot of people, Like that's not

759
00:32:30,680 --> 00:32:34,080
Speaker 4: an option, Like you don't have anybody to rely on.

760
00:32:34,440 --> 00:32:36,160
Speaker 4: And I think that the bank of mum and Dad

761
00:32:36,320 --> 00:32:39,680
Speaker 4: is not just about home guarantores and big amounts of

762
00:32:39,720 --> 00:32:42,280
Speaker 4: money being gifted. I think sometimes it can also be

763
00:32:42,360 --> 00:32:45,640
Speaker 4: that financial security of knowing that somebody else has your back.

764
00:32:46,000 --> 00:32:48,360
Speaker 4: It might be fifty bucks, Like you might not come

765
00:32:48,400 --> 00:32:51,600
Speaker 4: from a super high income family, but you know, if

766
00:32:51,640 --> 00:32:54,080
Speaker 4: everything hit the fan tomorrow, you've got parents that you

767
00:32:54,120 --> 00:32:56,440
Speaker 4: can call me, like, hey, Mom, I really need help.

768
00:32:56,480 --> 00:32:58,800
Speaker 4: I'm in a bit of a pickle and that is

769
00:32:58,880 --> 00:33:01,080
Speaker 4: not something that is exc ended to everybody in our

770
00:33:01,120 --> 00:33:03,680
Speaker 4: community either, and I feel like that for me also

771
00:33:03,760 --> 00:33:05,520
Speaker 4: falls into the bank of mum and Dad, which is

772
00:33:05,560 --> 00:33:08,880
Speaker 4: that feeling of financial security when you have good relationships

773
00:33:08,920 --> 00:33:10,280
Speaker 4: with family members.

774
00:33:10,320 --> 00:33:12,560
Speaker 6: Super interesting and if you do want to have those

775
00:33:12,600 --> 00:33:14,960
Speaker 6: conversations with us, make sure you're following us on Instagram

776
00:33:15,000 --> 00:33:18,480
Speaker 6: where She's on the Money AUS. We share our community

777
00:33:18,480 --> 00:33:20,520
Speaker 6: concern every single week and we want you to weigh

778
00:33:20,520 --> 00:33:22,400
Speaker 6: in because it's really interesting to get all of those

779
00:33:22,400 --> 00:33:23,960
Speaker 6: different perspectives one hundred percent.

780
00:33:23,960 --> 00:33:27,480
Speaker 4: But speaking of talking to us in person, Jessica, what's

781
00:33:27,520 --> 00:33:28,200
Speaker 4: happening soon?

782
00:33:28,400 --> 00:33:31,080
Speaker 6: Oh my gosh, it's only a few short weeks until

783
00:33:31,080 --> 00:33:34,520
Speaker 6: International Women's Day. We are so freaking pumped about it.

784
00:33:35,480 --> 00:33:36,000
Speaker 2: Oh my gosh.

785
00:33:36,120 --> 00:33:38,840
Speaker 6: Not that she's counting or anything, but if you haven't already,

786
00:33:38,880 --> 00:33:42,239
Speaker 6: I believe two of our four cities are. There's like

787
00:33:42,400 --> 00:33:45,680
Speaker 6: fifteen to twenty tickets left. They're slim pickings, very slim picking.

788
00:33:45,680 --> 00:33:47,800
Speaker 6: So if you haven't grabbed your ticket, please head to

789
00:33:47,840 --> 00:33:49,960
Speaker 6: the website. We'll link it in the show notes. It's

790
00:33:50,000 --> 00:33:53,560
Speaker 6: so exciting. This week we announced the goodie bags. They

791
00:33:53,720 --> 00:33:56,120
Speaker 6: very little bit city by city, but they're all worth

792
00:33:56,200 --> 00:33:58,840
Speaker 6: over three hundred dollars.

793
00:33:59,080 --> 00:34:00,560
Speaker 2: It's actually so exciting.

794
00:34:00,920 --> 00:34:03,600
Speaker 4: I cannot believe that our team has pulled this together.

795
00:34:03,680 --> 00:34:04,280
Speaker 2: It's wild.

796
00:34:04,360 --> 00:34:06,640
Speaker 6: The brands that we have are unreal. And if you

797
00:34:06,680 --> 00:34:08,279
Speaker 6: want to see that hedge the Instagram because we did

798
00:34:08,280 --> 00:34:09,960
Speaker 6: a post summarizing it all so you can have a

799
00:34:09,960 --> 00:34:10,640
Speaker 6: little squizz.

800
00:34:10,680 --> 00:34:12,360
Speaker 4: But I'm going to give you a little bit of

801
00:34:12,400 --> 00:34:14,680
Speaker 4: a hint, like if you're just a listener please Okay.

802
00:34:14,719 --> 00:34:17,520
Speaker 4: So we have our friends on board from Go to Skincare.

803
00:34:17,800 --> 00:34:22,600
Speaker 4: We've got Adoor Beauty, Cadbury Chocolates, Naked Harvest, the Quick Flick.

804
00:34:22,760 --> 00:34:25,440
Speaker 4: We've got our friends from LSKD which Jess and I

805
00:34:25,440 --> 00:34:28,600
Speaker 4: are obsessed with. They're a whole heap. We've also got

806
00:34:28,600 --> 00:34:31,480
Speaker 4: Skinstitute and Frank Body, which I am obsessed with. Just

807
00:34:32,000 --> 00:34:34,120
Speaker 4: like a little few just to do some name dropping.

808
00:34:33,760 --> 00:34:34,600
Speaker 2: You know, oh my god.

809
00:34:34,680 --> 00:34:36,719
Speaker 4: Yeah, but there's this beautiful face of mom and dad

810
00:34:36,760 --> 00:34:37,840
Speaker 4: people they name drop.

811
00:34:38,000 --> 00:34:39,320
Speaker 2: Oh yeah.

812
00:34:39,480 --> 00:34:41,600
Speaker 6: So definitely if you want to grab a ticket, please

813
00:34:41,600 --> 00:34:42,920
Speaker 6: hea to the website. We're so excited to.

814
00:34:42,920 --> 00:34:43,360
Speaker 2: Be putting on.

815
00:34:43,400 --> 00:34:45,359
Speaker 6: We couldn't do it without our friends from Chasas who

816
00:34:45,400 --> 00:34:48,560
Speaker 6: have just been absolutely incredible and so supportive of us.

817
00:34:48,840 --> 00:34:52,000
Speaker 6: They really embody I think the whole idea that we

818
00:34:52,080 --> 00:34:55,200
Speaker 6: really love beying International Women's Day. They've got Roberts who

819
00:34:55,200 --> 00:34:56,200
Speaker 6: will actually.

820
00:34:55,800 --> 00:34:57,719
Speaker 2: Be making an appearance at some of the events, which

821
00:34:57,719 --> 00:34:58,600
Speaker 2: I'm obsessed with her.

822
00:34:58,600 --> 00:35:00,799
Speaker 6: I think she's the coolest per and she's a part

823
00:35:00,800 --> 00:35:03,640
Speaker 6: of their CEO team. We love a business led by

824
00:35:03,640 --> 00:35:04,840
Speaker 6: a female, We just truly do.

825
00:35:05,000 --> 00:35:07,360
Speaker 4: And I feel like they have always been super supportive

826
00:35:07,360 --> 00:35:10,600
Speaker 4: of the content we create, which obviously is one thing

827
00:35:10,640 --> 00:35:12,920
Speaker 4: to say, but they really walk the walk, like they

828
00:35:12,960 --> 00:35:15,960
Speaker 4: really embrace the content that we create so that other

829
00:35:16,000 --> 00:35:19,319
Speaker 4: people can be in better financial circumstances because of them,

830
00:35:19,360 --> 00:35:22,000
Speaker 4: and people can start their investing journeys. Like I'm obsessed

831
00:35:22,000 --> 00:35:24,200
Speaker 4: with them, which you guys already know, but I think

832
00:35:24,239 --> 00:35:26,799
Speaker 4: that's enough. If you want International Women's Day tickets, our

833
00:35:26,920 --> 00:35:28,560
Speaker 4: link will be in the show notes, along with all

834
00:35:28,600 --> 00:35:31,520
Speaker 4: of the links for everything else we've mentioned this episode. Guys,

835
00:35:31,560 --> 00:35:33,040
Speaker 4: it's been a good week. I hope you have a

836
00:35:33,080 --> 00:35:34,880
Speaker 4: good weekend and we'll see you again on Monday.

837
00:35:35,080 --> 00:35:36,800
Speaker 2: See you guys, then bye bye.

838
00:35:43,040 --> 00:35:45,600
Speaker 4: The advice shared on She's on the Money is general

839
00:35:45,640 --> 00:35:49,520
Speaker 4: in nature and does not consider your individual circumstances. She's

840
00:35:49,520 --> 00:35:53,000
Speaker 4: on the Money exists purely for educational purposes and should

841
00:35:53,040 --> 00:35:56,200
Speaker 4: not be relied upon to make an investment or financial decision.

842
00:35:56,600 --> 00:35:59,200
Speaker 2: If you do choose to buy a financial product.

843
00:35:58,840 --> 00:36:03,160
Speaker 4: Read the pds and obtain appropriate financial advice tailored towards

844
00:36:03,239 --> 00:36:06,520
Speaker 4: your needs. Victoria Divine and She's on the Money are

845
00:36:06,560 --> 00:36:09,920
Speaker 4: authorized representatives of money. Sheper p T y L t

846
00:36:10,080 --> 00:36:12,839
Speaker 4: D A B N three two one six, four nine

847
00:36:12,960 --> 00:36:15,919
Speaker 4: two seven seven zero eight A F s L four

848
00:36:16,000 --> 00:36:19,560
Speaker 4: five one two eight nine