Speaker 1: My name's Satasha Bamblet. I'm a proud First Nations woman
Speaker 1: and I'm here to acknowledge country. Te Glenn Young Ganya Niana,
Speaker 1: kaka ya Ya Binahwaka nian ur gay In Mbini, yakarum
Speaker 1: Jar Doumayagumika Umaga, Ihowaka Nilewaman damon Immalan, Bumba bang Gada,
Speaker 1: boma In and now in waka ghana on yak rum
Speaker 1: jar Watanadaa. Hello, beautiful friends, we gather on the lands
Speaker 1: of the Aboriginal people. We thank, acknowledge and respect the
Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure
Speaker 1: in all the land and respect all that you see.
Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
Speaker 1: bringing you the tools, knowledge and resources for you to thrive.
Speaker 2: She's on the Money.
Speaker 3: She's on the Money. Hello and welcome to She's on
Speaker 3: the Money, the podcast that makes personal finances fun. You've
Speaker 3: called us at our favorite time of the week. That
Speaker 3: is right, my friends. It is Friday drinks time where
Speaker 3: we get together and celebrate you our very money savvy community.
Speaker 3: I am Victoria Devine and while Jess is away I'm
Speaker 3: going to be sharing some money wins from the feed
Speaker 3: and joining me today is miss Beck, sayed, the brain's
Speaker 3: behind our weekly broke tips. Beck, are you excited to.
Speaker 4: Do a V and B?
Speaker 3: I am, I'm scared, but I'm excited. Well, it's better
Speaker 3: than the B and J just like alphabetically speaking. No,
Speaker 3: you're so right, absolutely like it could have been a
Speaker 3: slippery slope. But guys, this is a g rated money podcast.
Speaker 3: I am more used to V yeah, yeah, yeah, yeah,
Speaker 3: that's true. That's true. And I'm more used to b
Speaker 3: ah genders. Let's not let's not talk's let's move on
Speaker 3: in true Friday form, Beck, where you are going to
Speaker 3: be discussing a couple of timely money dilemmas concerning our
Speaker 3: community members debt, including how to get rid of it
Speaker 3: and whether you should I think that could be a
Speaker 3: little bit saucy, right, And if you've got a salacious
Speaker 3: dilemma to share with us, or a pressing DM that
Speaker 3: needs answering on our podcast, please send it through. We
Speaker 3: don't just want to reply to your dms. We get
Speaker 3: so excited to reply to your dms. And if your
Speaker 3: DAM involves a little bit of cheeky side gossip that
Speaker 3: we're not involved in, but we get to hear about Beck.
Speaker 3: Are we there? Oh my god, I so there? With
Speaker 3: bells on. Anyway, we accept love letters in our inbox
Speaker 3: and voicemails on our website. Simply hit the podcast page
Speaker 3: and leave your message after the beep. Speaking of beep,
Speaker 3: it is time to This is so lame, but it
Speaker 3: is time for us to toot our own horn. Oh
Speaker 3: my god, I was wondering how you would work it in.
Speaker 3: That's I try. Maybe I'll try harder next week.
Speaker 5: I love it.
Speaker 3: It is time for our five star review Beck. And
Speaker 3: if you're a longtime listener and you reckon that that
Speaker 3: she's on the Money Show is a bit alright, Like
Speaker 3: I reckon, it's time for you to leave us a
Speaker 3: review because you know what it does. I actually don't know.
Speaker 3: It's kind of like it makes our day. It does,
Speaker 3: it makes our day. But I know that there's some
Speaker 3: kind of podcast algorithm. Yes, and like if a podcast
Speaker 3: has lots of good reviews, the algorithm goes, oh, that's
Speaker 3: quite like a good thing. We should be pushing this
Speaker 3: to more people who need to hear it. Yes, and
Speaker 3: then that's good because I guess we make more friends,
Speaker 3: make more friends. I love friends. That's so true. But literally,
Speaker 3: like it helps us somehow through the algorithm you mostly,
Speaker 3: Beck helps our egos exactly, and that's arguably the most
Speaker 3: important thing. And we love to read our reviews, not
Speaker 3: the one star ones. We do read those. They do
Speaker 3: definitely get the screenshot and shared in our group chats.
Speaker 3: They hurt. Yeah, but sometimes you're like, babe, thanks for
Speaker 3: the one star review that Victoria's voice is annoying. Oh
Speaker 3: but I can't do anything about that, and like painful.
Speaker 3: I don't know about you, Beck, but when I was
Speaker 3: growing up, my mum always said that you should never
Speaker 3: ever give somebody feedback about themselves that they can't change
Speaker 3: within ten seconds. Yes, so like, I'm not going to
Speaker 3: talk to you about anything unless you're like, you've got
Speaker 3: something in your teeth. Yeah, you could fix that immediately,
Speaker 3: for sure, that's quite helpful. For sure. Oh you've got
Speaker 3: something on your face, Oh, let me help you.
Speaker 5: But also, as a listener of podcasts, I understand the
Speaker 5: frustration of being like irritated by someone. But also if
Speaker 5: you're not forced to do it, then don't worry.
Speaker 3: Just like, don't do it.
Speaker 4: Yeah.
Speaker 3: Like, the craziest thing about this show is it is
Speaker 3: entirely consensual. Yeah, Like, you choose to be here, and
Speaker 3: if you don't want to be here anymore, guess what, Beck,
Speaker 3: Well you can opt out. Well that's crazy. Anyway. Anyway,
Speaker 3: would you like to hear a five star review from
Speaker 3: a friend called Ruby? Yes? Please? Okay? Ruby says, I
Speaker 3: just had to write to say a huge thank you.
Speaker 3: I've only just started listening to this podcast for the
Speaker 3: last two months, and I've learned so much about finance,
Speaker 3: and I've signed up to do all of your courses.
Speaker 3: I've redone my family's budget, and I've even emailed to
Speaker 3: see one of your mortgage brokers. But the biggest thing
Speaker 3: I've taken from your podcast is after listening to the
Speaker 3: episode about the Lady who loved to Tech, and then
Speaker 3: the following podcast about jobs, I decided I no longer
Speaker 3: wanted to just be my husband's occasional admin helper and
Speaker 3: instead completely redid my own resume. I wrote a cover
Speaker 3: letter just how Victoria said, and thought about my life
Speaker 3: skills that I've gained as a mum of three. I've
Speaker 3: already been asked to do three interviews in three completely
Speaker 3: new industries. To me, I feel like your podcast has
Speaker 3: given me so much confidence and possibly even in New
Speaker 3: Korea with a seventy five thousand dollars earning potential that
Speaker 3: will not only get our family to our dream home quicker,
Speaker 3: but into shares and all. Thank you so much. Oh
Speaker 3: my god, it's amazing. That's so cool. Literally, like and
Speaker 3: you know, I don't know this person at all, but no,
Speaker 3: but I love, Like I don't know you, but I love.
Speaker 5: I love honestly, this is that amazing, Like we genuinely
Speaker 5: it's so happy because you could have, you know, just
Speaker 5: maybe not had your own things to fall back on
Speaker 5: just in case something went awry, and now you.
Speaker 3: Do and that's incredible. But also just I love that
Speaker 3: you heard what I was trying to put out because
Speaker 3: I didn't do a whole podcast on the fact that
Speaker 3: I think that people who have taken time out of
Speaker 3: the workforce to you know, look after kids or even
Speaker 3: in caring roles, like I've got a friend at the
Speaker 3: moment who's just exited the workforce to look after an
Speaker 3: aging grandparent, and I just I think that's so special.
Speaker 3: But as I said to her, like what skills are
Speaker 3: you gaining? How do we quantify this? Like, if you
Speaker 3: have three children, I'm sorry, you know what you're really
Speaker 3: good at? Time management? Oh? Yeah, you know what you're
Speaker 3: good at conflict resolution. Like there's just so many things
Speaker 3: that you can say. Look, if I can deal with
Speaker 3: three kids, I promise you I can deal with a
Speaker 3: nine to five for sure. Like, there is just so
Speaker 3: much And I think that so many times we've fed
Speaker 3: this narrative that you're not good enough, you're not worthy enough,
Speaker 3: you've been out of the industry, Like, especially in roles
Speaker 3: where the industry is relatively fast moving, you're often pushed
Speaker 3: to the side really easily, like marketing for example, Like, oh, well,
Speaker 3: marketing's changed and since you've left, social media has taken off, etc. Etc.
Speaker 3: And you're just like, yeah, but I'm not an idiot.
Speaker 3: Do you really think that I haven't been watching social
Speaker 3: media in my downtime?
Speaker 4: Yeah?
Speaker 3: Like, girl, you have so many skills, just put them
Speaker 3: on paper. You absolutely can do it. That's amazing.
Speaker 4: I love it.
Speaker 3: I just I'm so excited that we're bringing you one
Speaker 3: step closer to like financial freedom. Yeah hell yeah, but
Speaker 3: also that confidence you're like I did this and then
Speaker 3: I did this, and then I did that, and like
Speaker 3: you don't even have to have any money yet and
Speaker 3: you feel better about yourself. Yeah, hell yeah, that's so
Speaker 3: so cool, all right, berck. Now, of course we need
Speaker 3: to seguay away from that, because it is time for
Speaker 3: the Question of the Week, that moment where we sift
Speaker 3: through all of your non financial questions and pick the
Speaker 3: best one each week to ask each other. And this
Speaker 3: one comes from a friend called Jamie, and Jamie asks,
Speaker 3: if you had a theme song play when you walked
Speaker 3: into a room, what would it be? Oh my god,
Speaker 3: I actually know this, do you? Because I just I
Speaker 3: felt it this song in it song from Eurhythmics. There
Speaker 3: must be an angel. I don't sorry, thank you so much.
Speaker 3: There must be an angel, as Beck walks in.
Speaker 5: Yeah, but it's and I know it sounds very like vain,
Speaker 5: but it's not. It's not directed inwood. It's like there
Speaker 5: must be an angel.
Speaker 3: Like it's like the world around.
Speaker 5: Me feels magical. Yeah, okay, I love something like that. Anyways,
Speaker 5: it and it doesn't make sense right now, but this no.
Speaker 3: But I will listen to it. I'm confused about what
Speaker 3: mine might be. It just reminds me of a time
Speaker 3: that happened this year when and I do apologize if
Speaker 3: you were at this event or you organize this event,
Speaker 3: because I didn't love this part, but I loved being
Speaker 3: at the event, so please don't cancel me. I was
Speaker 3: doing a speaking event. There were hundreds of women in
Speaker 3: the room, right, really cool opportunity. I get up to
Speaker 3: walk on stage because they're like, uh, Victoria is the
Speaker 3: keynote speaker, Like cool, my time to shine and they
Speaker 3: stop playing Katie Harry Raw Okay, was just like, oh,
Speaker 3: in this moment, I would rather die, like like.
Speaker 6: And you're gonna hear me, yeah, And I'm just like
Speaker 6: oh oh, and like that just felt like so stereotypical,
Speaker 6: Like it gives me, like I don't know, two thousand
Speaker 6: and nine Girl Boss vibes of like oh it.
Speaker 3: Just okay, it's so not me. What about this girl
Speaker 3: is some fire that's just as bad? That is horrific. Okay,
Speaker 3: that is horrific. Like I feel like the song that
Speaker 3: I'm thinking of is like I'm walking on Sunshine. Oh
Speaker 3: that's called like something fun, like something fun, something like
Speaker 3: you know about the vibes as opposed truly about me.
Speaker 3: As an individual. Oh yeah, yeah, yes, the raw thing
Speaker 3: girl I wanted to You have to embrace it and
Speaker 3: be like yeah, yay woo, because you're not going to
Speaker 3: bring the vibe down of your own keynote present. But
Speaker 3: also you'd be like, hey, like, why was that my
Speaker 3: sting song? You know, totally, that's so funny.
Speaker 5: It's so funny that also in this way, to see
Speaker 5: how people perceive you, Like, it'd be nice to know
Speaker 5: what other people think your theme song is, because yeah,
Speaker 5: and that in the Spotify.
Speaker 3: Comments, we'll read that one this way exactly. What's the
Speaker 3: She's on the Money theme song specifically for each member
Speaker 3: of the team.
Speaker 5: Yeah, and then let us pick you as well. It's like,
Speaker 5: what color are you? I feel like it really paints
Speaker 5: a picture.
Speaker 3: What color are you? I don't know color I am?
Speaker 3: But I know what color you are? Oh yeah, what
Speaker 3: color am I? You're like a regal purple and gold? What?
Speaker 5: Yeah, you're quite regal and also classy and also like
Speaker 5: I don't know how.
Speaker 3: To explain it, but you're like mother, Oh yeah, I
Speaker 3: appreciate you. You're green? Did you know that you were green?
Speaker 3: What's gorgeous? I didn't know that, but that's that's beautiful,
Speaker 3: like not because you're wearing green, but like earthy and
Speaker 3: wholesome and like I don't know, like like the grass,
Speaker 3: like you just want to like roll around in the grass,
Speaker 3: like I don't know. Green is good. That's so sweet.
Speaker 3: Things like green light, green light, bring like green flag
Speaker 3: like all of that. Thank you for not picking red.
Speaker 3: Oh my god, of course I appreciate it. I just
Speaker 3: I feel like there are so many fun possibilities and
Speaker 3: so many questions that we could dive into. But people
Speaker 3: have mostly come here because they want to hear finance
Speaker 3: topics and like dms and stuff, so maybe we should
Speaker 3: get into that. So anyway, put your suggestions for our
Speaker 3: color and our song into the Spotify comments section. But
Speaker 3: we also want to hear what Jess is, Yes, we do.
Speaker 3: What do you think Jess is yellow?
Speaker 4: Oh?
Speaker 3: Jess is yellow? For sure? You agree? Yes? And also
Speaker 3: like a mauve pink? Oh yeah, like a really like
Speaker 3: like soft purple okay, yeah, like lavender like softer. Oh
Speaker 3: my god, it's so cute, isn't she cute? We are
Speaker 3: on the same page here, Yeah, what's her song? Well?
Speaker 5: I don't want to go tailor swift because she's obsessed
Speaker 5: with tailor swift. But something like that, something that's like upbeat,
Speaker 5: like exactly like this Sunshine song. You know, Yeah, I
Speaker 5: reckon she's walking on sunshine too.
Speaker 3: Yeah, I agree.
Speaker 4: All right.
Speaker 3: Moving on from that, let's get into this week's money
Speaker 3: wins from our community. And I have picked them this week,
Speaker 3: so I hope they're as good as Jesses. Okay, right, Beck.
Speaker 3: First one, I love this because it just feels like
Speaker 3: a very she is on the money money win. Grace says,
Speaker 3: I hit fifty thousand dollars in my savings. Amazing. I
Speaker 3: started it ten years ago and I've slowly been chipping
Speaker 3: away at it and I've finally achieved it. Oh my god,
Speaker 3: it's amazing. Isn't that phenomenal? Like literally so exciting. But
Speaker 3: what a big feat I feel like after ten years. Yeah,
Speaker 3: so many people give up and it's just anyway, I
Speaker 3: love it. Another one, this is from Emily. Emily said,
Speaker 3: I've needed a new fan for a wood heater for years,
Speaker 3: and at three hundred dollars, we put up with it.
Speaker 3: Just being wowed. My husband's dropped off our old dryer
Speaker 3: at the metal recycling place to see the exact same
Speaker 3: heater sitting there, so we pulled out the fan. One
Speaker 3: man's trash really is another man's treasure. Hell yeah, how
Speaker 3: good's that? That's so good?
Speaker 4: Do you know?
Speaker 3: I saw one of my girlfriend's post that she went
Speaker 3: to the tip shop in Mornington the other day. Oh
Speaker 3: my god, the tip shop. Did you know that there
Speaker 3: were tip shops? I didn't know, but I didn't know
Speaker 3: there was one in Mornington. Well the more you know,
Speaker 3: I literally was shook because I didn't know that tips
Speaker 3: had shops. And then she's showing all these things that
Speaker 3: were for sale at the tip shop and I was like, sorry,
Speaker 3: in my head, Beck, it's at the tip shop because
Speaker 3: someone was about to throw it out?
Speaker 6: Right?
Speaker 3: What the hell? Why was there so much good stuff
Speaker 3: about to go in the bin? What are you guys doing?
Speaker 3: Why wasn't that donated? I know, it's so crazy. I mean,
Speaker 3: see that hard rubbish. A lot of good things, but
Speaker 3: hard rubbish. I fear like you put something out in
Speaker 3: the hope that someone will grab it, like, I don't know,
Speaker 3: I don't know.
Speaker 6: I know.
Speaker 3: Next one, Christina says, and I feel like this is
Speaker 3: one that you won't resonate with because whenever you go
Speaker 3: to the pub, Beck, you order a water, but she says,
Speaker 3: I keep this wine lid and she's like, put a
Speaker 3: picture of a wine lid up in my handbag on
Speaker 3: the occasion that we just don't finish the bottle of
Speaker 3: wine we've ordered at the pub or the club. Might
Speaker 3: only be a glass, but it's better in my fridge
Speaker 3: than wasted. And they always seem to take the tops. Yes,
Speaker 3: so true. Okay, that's a diabolical that, like they just
Speaker 3: take the lid away and the hope that like you
Speaker 3: won't take it. Yeah, weird. We have a new commentor, Carson.
Speaker 3: Carson says, I'm a first time commenter and I want
Speaker 3: to share my money with shopped at Woolworth's this week.
Speaker 3: It came to a total of three hundred dollars. Then
Speaker 3: I scanned my partner's Everyday Rewards card and we got
Speaker 3: a total of fifty dollars off between points, worker discount
Speaker 3: and shopping savings. Wow, isn't that a good deal? Yeah,
Speaker 3: that's great. Also, welcome to commenting. Welcome all right, another
Speaker 3: one and I'm gonna leave this as my last one.
Speaker 3: This one's from Rebecca and she says, Okay, guys, I've
Speaker 3: been waiting for this. My skill Share free trial was
Speaker 3: ending and I didn't want to pay for full price
Speaker 3: for a subscription, so I emailed and asked if they
Speaker 3: could extend my trial or offer a discount. I scored
Speaker 3: fifty percent off for the year, and I saved a
Speaker 3: total of seventy eight bucks. If you don't ask, my friends,
Speaker 3: you don't get Oh incredible, isn't that so good? But
Speaker 3: like very she's on the money. Coded. If you don't ask,
Speaker 3: you don't get Like, what's the worst thing that can
Speaker 3: happen if you ask?
Speaker 4: Beck?
Speaker 5: Honestly nothing? And then these people are going to see
Speaker 5: you again. Like you don't have to worry about being
Speaker 5: awkward or shy because.
Speaker 3: Also they're just going to say no, and you just
Speaker 3: be polite and go thanks so much, friend, exactly like, oh,
Speaker 3: no worries, full stop. End of story. I'll go about
Speaker 3: my day and cancel my free trial. That's it, exactly
Speaker 3: all right, Beck, we are segueghing into your broke tips.
Speaker 3: What have you got to share this week? Okay, so
Speaker 3: first up, I have I know that I've mentioned this
Speaker 3: name before. Isn't that crazy?
Speaker 5: They have the exact same name enthusiastic Arugula, is it actually,
Speaker 5: it actually is, but it's the anonymous one, and so
Speaker 5: I I with the anonymous.
Speaker 3: Steff guys, own your comments. I want to know who
Speaker 3: you are because I'm really creepy. I only want to connect.
Speaker 5: We want to connect, and so I am a little
Speaker 5: bit more I'd say liberal when it comes to reading
Speaker 5: out anonymous, but I.
Speaker 3: Will try and tighten it up. So enthusiastic Arugula said,
Speaker 3: I ordered my kids Guzman.
Speaker 5: Egomez for dinner a couple of days ago. Down out
Speaker 5: of the app and I checkout, it said to click
Speaker 5: for a free breedo. Instead of a free breedo. It
Speaker 5: took the cost off my cart. So what should have
Speaker 5: cost fifty dollars fifty ended up costing me thirty cents.
Speaker 3: The story money win.
Speaker 5: I know, if you haven't already got the app, sign
Speaker 5: up and take advantage of this offer, which I do
Speaker 5: know because I do have the app.
Speaker 3: It is really good.
Speaker 5: I feel like there's constantly little offers like I'm always
Speaker 5: either getting something free or something it's like cheap or
Speaker 5: something like that.
Speaker 3: That's me in the macas app. Yes, the macas app,
Speaker 3: and I ty I have not dabbled in that yet.
Speaker 3: But I need to stop talking about the Macas app though,
Speaker 3: because Macis is a huge corporation that could be sponsoring this. Imagine,
Speaker 3: I know, Macca's money Wins or something. Yeah, what the hell,
Speaker 3: because you know what's a money win? The fact that
Speaker 3: macas brought back the fifty cent cone. Oh my god,
Speaker 3: did they bring that back? They brought that back? Well
Speaker 3: it's about bloody time exactly. But also they're just girls,
Speaker 3: like they know that in a cozy Livis situation, you
Speaker 3: know what's going to light us up inside a fifty
Speaker 3: cent cone? Exactly. We don't have that much money, you guys.
Speaker 3: But also we deserve sweet treats. Yeah, we really do.
Speaker 3: Now they're accessible again.
Speaker 5: Okay, So this next one comes from Jen who says
Speaker 5: if you insert your card instead of tapping your card,
Speaker 5: then you kind of get rid of the additional fee.
Speaker 5: And I did google it to see like, do you
Speaker 5: get like a Karlie if you insert? And it was like, no,
Speaker 5: you don't get like the additional card fee on top
Speaker 5: of the card fee.
Speaker 3: When you I had no idea that was a thing.
Speaker 3: I know, is that crazy? I didn't know either. That's
Speaker 3: diabolic hall. Actually, isn't it cheek That is cheeky and
Speaker 3: sneaky and really rude.
Speaker 5: It is, so don't tap anymore insert, go back to insert.
Speaker 5: They could all seem like innuendos, and I promise they're not.
Speaker 3: And then but this isn't the b n J show.
Speaker 5: This is the BnB show exactly right, So a lot
Speaker 5: more inclusive now, my one. And I know this sounds crazy,
Speaker 5: and I was a little bit too shy to do
Speaker 5: this because it's insane, but I measured the amount of
Speaker 5: dribble that comes out of the petrol hose.
Speaker 3: You measured her, I did.
Speaker 5: I had to take a friendly because I was too
Speaker 5: scared to go alone. I'm scared someone's gonna yell at me.
Speaker 5: But I did measure it.
Speaker 3: I was like, wow, well, I just got like a
Speaker 3: little you know when you like, so I filled it
Speaker 3: up and then I got like a little plastic like
Speaker 3: a urine sample cup almost like yeah, exactly, like a
Speaker 3: plastic cylinder and like, and then I pulled it out
Speaker 3: and then just like let it dribble in there, and
Speaker 3: I waited for a little while.
Speaker 5: It was about fifty mill which is like who cares,
Speaker 5: but what I'm saying is instead of pulling it straight out.
Speaker 5: I know a lot of people do do this. They
Speaker 5: give it a little shake and they wait, ah huh,
Speaker 5: saying stay.
Speaker 2: There for as long as you can before you're like, okay,
Speaker 2: I've really got to get home with my life, right,
Speaker 2: Say there for as long as you can, because that
Speaker 2: small amount will add up over time you can.
Speaker 3: Get a whole free tank. That's true. You were right.
Speaker 3: That was full of innuendo. That was really like I
Speaker 3: wasn't sure if I was in sex ed or if
Speaker 3: I was talking about the bowser. You know. Anyway, that's
Speaker 3: really good tip, Beck, and I am so glad that
Speaker 3: you shared it. Thank you. Is that where we're ending
Speaker 3: broke tips this week? Unfortunately, that's it. I'm really grateful.
Speaker 3: I'm really grateful for those of you who want to
Speaker 3: follow along to bes how to get pregnant guy. We'll
Speaker 3: announce that in the second segment of this show. But
Speaker 3: we're going to go to a really quick break and
Speaker 3: on the flip side, we're going to dive straight into
Speaker 3: our questions. My friends, welcome back. It is time for
Speaker 3: our weekly dilemma, and this one might feel particularly relevant. Actually,
Speaker 3: if you have a little bit of heex stet. Hi,
Speaker 3: there have you got a money dilemma you just can't
Speaker 3: solve that. She's on the Money Team is here to help.
Speaker 3: Every week we tackle your dilemmas, both big and small,
Speaker 3: to answer your most burning money, career and life questions.
Speaker 3: To get involved, simply head to our website and leave
Speaker 3: us a short voice recording and you might just find
Speaker 3: yourself on the show. Now, let's take a listen to
Speaker 3: this week's money dilemma.
Speaker 4: Hi, She's on the Money Team. I have a question
Speaker 4: about tax and hextet. I have a hex stet in
Speaker 4: the forty thousand ish range, and obviously I've been paying
Speaker 4: that back whilst I was working full time. I'm now
Speaker 4: a mum of two and I work part time, so
Speaker 4: my annual income I believe doesn't sit over the threshold
Speaker 4: for repayments to the HEX. I do salary sacrifice at
Speaker 4: work working part time. I think that I'm still putting
Speaker 4: money towards my HEX debt, and then come tax time,
Speaker 4: I just get it back in a nice little tax return.
Speaker 4: But I've just had a thought and I'm wondering for
Speaker 4: some advice on whether I should actually be taking that
Speaker 4: tax return and still putting it towards my hex stet
Speaker 4: at the moment where enjoying the large tax return that
Speaker 4: I get. But then I guess I'm never really paying
Speaker 4: off my hex step. So if I continue to work
Speaker 4: part time for a really long time and never pay
Speaker 4: off my hex stet, theoretically once we sort of, you know, retire,
Speaker 4: I guess, and I still have a hex step, do
Speaker 4: you then just have to pay it off in a
Speaker 4: bulk amount or do you just continue to pay it
Speaker 4: off even in retirement. Any advice on whether I should
Speaker 4: just be paying it off now anyway would be great.
Speaker 4: Thank you.
Speaker 3: What are your thoughts on this? Back?
Speaker 5: Honestly, up unto the last moment, I was thinking like,
Speaker 5: oh my god, don't pay it off like it dies
Speaker 5: with you, So.
Speaker 3: Just like leave it sort of thing. That's kind of
Speaker 3: how I feel. And obviously we can't give you advice
Speaker 3: on what to do, but we can talk about how
Speaker 3: we feel about it. Do you still have hextet? Oh?
Speaker 5: Yeah, I still got hextet, And like it's more just annoying.
Speaker 5: I don't actually know how much I'm paying on it.
Speaker 5: I don't think it would be that much, maybe like
Speaker 5: thirty bucks of paid cycle or something.
Speaker 4: Yeah.
Speaker 3: Yeah, like you have to pay the minimum. Yeah, And
Speaker 3: so I'm like, oh, I'm not too worried. Honestly, it
Speaker 3: does fee annoying. So I don't actually have a degree
Speaker 3: true for it.
Speaker 5: But I think that in this case, when you start
Speaker 5: talking about the retirement thing, like once you start getting
Speaker 5: your you know, super and things like that, do you
Speaker 5: have to start paying it off or do you have
Speaker 5: to pay it off? I don't know about that, but
Speaker 5: otherwise I would just leave it because it really, in
Speaker 5: my mind is kind of like inconsequential.
Speaker 3: That's how I feel. So personally, I have not contributed
Speaker 3: even a dollar more to my hex than I have
Speaker 3: needed to. I've always paid the minimum and come tax
Speaker 3: return time. Just because of the nature of my work
Speaker 3: sometimes I have to pay a bit more and like
Speaker 3: that's fine, but for me, it's not ever inhibited being
Speaker 3: able to buy a property or save or invest. And
Speaker 3: I look at that debt not as a bad debt,
Speaker 3: not as a good debt. It's kind of like an
Speaker 3: okay debt. She sits in the middle because it doesn't
Speaker 3: accrue interest, but it does it crue like indexation, right,
Speaker 3: Like it's indexed every year. So at the moment, because
Speaker 3: indexation is much higher, I feel like we care a
Speaker 3: lot more about it because you know, all of a sudden,
Speaker 3: it's not like one or two percent, it's like four
Speaker 3: and a half percent. You kind of go ill, ill, No,
Speaker 3: I don't. I don't like that at all. Like maybe
Speaker 3: I should be paying this off, but I would probably
Speaker 3: choose in your situation, to zoom out and look at
Speaker 3: the bigger picture and go, well, what do I actually
Speaker 3: want to achieve? Like what is this money going towards?
Speaker 3: Like if I was to pay that off, what am
Speaker 3: I compromising in the rest of my life? Because like,
Speaker 3: some people just don't want debt. And I totally understand
Speaker 3: that because for a very long time I was really
Speaker 3: stressed about my hex debt and what it would mean
Speaker 3: until I became super financially literate and I was like, oh, hey,
Speaker 3: I actually like if I have a dollar and I
Speaker 3: want it to work for me, I'm going to be
Speaker 3: presented with a number of different options. I could put
Speaker 3: it in a savings account for a certain amount back,
Speaker 3: I could you know, put it into clothes or shoes,
Speaker 3: and like that makes me feel good, but I'm not
Speaker 3: getting that much back from that, I could put it
Speaker 3: into my hextet, or I could invest it. And I
Speaker 3: look at all these options and go, well, what's most
Speaker 3: important to me? And honestly, to me, loading up my
Speaker 3: share portfolio is much more important. And at the moment,
Speaker 3: I'm also feeling a little bit stressed personally just about
Speaker 3: our mortgage, not because we can't pay it. We're okay,
Speaker 3: but like I just see it creeping up and I
Speaker 3: can see how much interest to we're paying on it.
Speaker 3: So for me, I just don't want to be paying that.
Speaker 3: So would I make more money back inside my investment portfolio, yes,
Speaker 3: but just because I'm stressy about it. Like we've arranged
Speaker 3: our budget a little bit differently recently to pay off
Speaker 3: a bit more of our mortgage because it just makes
Speaker 3: me feel better about myself, and I think that's a
Speaker 3: good lesson in and just because something makes you the
Speaker 3: most money doesn't mean it is the right decision for you.
Speaker 3: You also kind of have to overlay your hopes, are
Speaker 3: your dreams, and your wishes, but also just how you
Speaker 3: feel about certain things in your life. So if your
Speaker 3: hex debt is really stressing you out, even though on
Speaker 3: paper you look at it and go, well, it will
Speaker 3: die with me, no worries, like you're not going to
Speaker 3: have to pay that back unless you earn over a
Speaker 3: certain amount, and yes that is true in retirement. But
Speaker 3: if you're earning over a certain amount in retirement when
Speaker 3: you're not working, money, win because it means you're arguably
Speaker 3: self sufficient. Yeah. So I don't mind if you're still
Speaker 3: chipping away at that debt at that point. But I
Speaker 3: really doubt that that debt is still going to be
Speaker 3: there given the projections. But for me, it's just not
Speaker 3: a priority. But I totally understand that people have different
Speaker 3: emotional priorities and if you want to chip it away
Speaker 3: at it, pop off, queen. But if you want a
Speaker 3: better solution, you could sit down and work out what
Speaker 3: might work best for you. For sure, I completely agree
Speaker 3: with that. Yes, no stresses, all right. The debt dilemmas
Speaker 3: are a plentiful This week and every week we select
Speaker 3: a little pickle from our dms from our community members,
Speaker 3: and this dilemma is unfortunately much more common than you think. Meck,
Speaker 3: I've got one. Would you like me to read it out?
Speaker 4: Please?
Speaker 3: All right, Hi, queens, please help. A few years ago,
Speaker 3: after a relationship breakdown, I found myself with around twenty
Speaker 3: thousand dollars of credit card debt. I ended up taking
Speaker 3: out a personal loan so that I could consolidate everything,
Speaker 3: and I promised myself that I would never ever end
Speaker 3: up in that position again. Fast forward a few years,
Speaker 3: and while I've been making my loan repayments, I've somehow
Speaker 3: managed to build up another eight thousand dollars on my
Speaker 3: credit card due to rising living costs and a few
Speaker 3: unexpected expenses. I'm not missing payments, but I feel like
Speaker 3: I'm constantly juggling debt rather than actually getting ahead. Do
Speaker 3: I focus on paying off the credit card first, or
Speaker 3: do I throw everything at my personal loan? Or is
Speaker 3: there another strategy I should be considering. I'm feeling pretty overwhelmed,
Speaker 3: and honestly, I'm a bit ashamed that I found myself
Speaker 3: back here.
Speaker 5: I know this feeling all too well, like I found
Speaker 5: myself here just moments ago when I quit my job,
Speaker 5: you know, just on a whim, and then just also.
Speaker 3: Like yeah, lokay, that was diabolical, silly, And then also
Speaker 3: just like from me, I was just like mac queen,
Speaker 3: I get it, I get it, But money also important.
Speaker 5: I know, silly, but I was also like, oh, it's
Speaker 5: gonna work out, and then sometimes it doesn't, but that's okay.
Speaker 5: But also just having like just the anxiety of you know,
Speaker 5: getting yourself into dead or like not being able to
Speaker 5: pay for things. And I know this is not the
Speaker 5: same story as our listener who wrote in, but there's
Speaker 5: a feeling of like anxiety and a feeling of stress
Speaker 5: and a feeling of like, oh my god, I'm so broke.
Speaker 5: And I think that like what I told myself in
Speaker 5: this moment was I can feel anxious or I can
Speaker 5: feel anxious and also ashamed. It's like there's no point
Speaker 5: being ashamed. I don't want to be ashamed, and I
Speaker 5: don't want to put that shame on myself. It's so
Speaker 5: easy to feel shame because we can see people around
Speaker 5: us like really, I guess like getting this shit together
Speaker 5: or they've got their shit together and they don't have
Speaker 5: these saying they can't relate to these struggles. And also
Speaker 5: the words use when people are like, oh, I'm so broke,
Speaker 5: I've got to have to dip into my savings and
Speaker 5: you're like, I don't have many savings.
Speaker 3: That makes me feel so much wa When I say broke,
Speaker 3: I mean like broken, like there is nothing bad back.
Speaker 5: On exactly, there's no family, there's no savings, Like you
Speaker 5: have family and friends of course, but like it's a
Speaker 5: different comfort of your parents who might have heaps of money,
Speaker 5: you'd be like, oh yeah, just borrow whatever. And so
Speaker 5: like this feeling, I think that our listener just first
Speaker 5: of all, should just like remove shame, because no matter
Speaker 5: like even if you're brought up in a different way,
Speaker 5: like our brain's all wired differently, the way we view money,
Speaker 5: the way we are in situations that we're in, Like
Speaker 5: we're all wired differently, and you are here because of
Speaker 5: the way you are, and there's nothing wrong with the
Speaker 5: way you are. And money is a man made, human
Speaker 5: made concept, so it's not like this inherent thing in us.
Speaker 5: It's like there's something broken inside me. It's like, no,
Speaker 5: you don't know how to juggle something that is completely unnatural,
Speaker 5: a human made thing, and that's so fine. So I
Speaker 5: think that like just remove the shame from it all.
Speaker 5: In terms of what I would do, I don't think
Speaker 5: I would be the best person to ask, because I
Speaker 5: also am always in the same situation. But I reckon
Speaker 5: tackling one at a time, whichever one has the least interest,
Speaker 5: I would tackle last.
Speaker 3: Does that make sense?
Speaker 5: Yeah, Like if your credit card has less interest, then yeah,
Speaker 5: your personal loan, then tackle the personal loan first, or
Speaker 5: both would be ideal.
Speaker 3: So Okay, I'm gonna tell her exactly what I told
Speaker 3: you last week, and that's we, you and I. We're
Speaker 3: going to sit down and we're finally going to do
Speaker 3: a budget, and your bloody going to stick to it, yes, ma'am,
Speaker 3: because it's something that I think we all are so
Speaker 3: avoidant of, and I get it because you're just like, well, V,
Speaker 3: I'm not good at money, or V I just I
Speaker 3: don't want to do that because I don't want to
Speaker 3: change my lifestyle, or you might find it really confronting
Speaker 3: because it sucks, Like you know, you and I are
Speaker 3: sitting down together, and this is going to be more
Speaker 3: personal than what this person's going to get. But I
Speaker 3: do this in my money masterclass. There is a free
Speaker 3: budget on our website, like those resources are a plenty,
Speaker 3: Like we have so many like playlists of getting out
Speaker 3: of debt, Like I'm about to bring out a get
Speaker 3: out of Debt free course, like I'm so excited about it,
Speaker 3: and by the way, that course will be free. There's
Speaker 3: no way I'm going to charge people to get them
Speaker 3: out of debt, Like Queen, I will charge you and
Speaker 3: sell you a course when we're talking about wealth creation
Speaker 3: and getting ahead and picking the right shares and how
Speaker 3: to do that. I feel like that is fair game.
Speaker 3: But I would think I don't know from me that
Speaker 3: that is predatory. If you're like girl, I am spiraling,
Speaker 3: I need to get out of debt, and then I
Speaker 3: charged you for a course, vile not happening, So that
Speaker 3: course will be free. But I know you're not missing payments,
Speaker 3: but we need to get the structure right because you're
Speaker 3: not spiraling, but you're also not thriving. And I think
Speaker 3: so many times we're just so avoidant of this idea
Speaker 3: of sitting down and doing our budget because it's bloody confronting,
Speaker 3: Like you don't want to sit down and be told
Speaker 3: by somebody else like don't spend this, or do spend this,
Speaker 3: or hey, Beck, you've only got this amount to spend
Speaker 3: per week and if you're done, you're done. That feels restrictive,
Speaker 3: but it's actually the most freeing thing in the entire world.
Speaker 3: Like just knowing that nobody's going to come knocking on
Speaker 3: your door asking for a debt repayment. You know that
Speaker 3: next week you're always going to have money. That's a
Speaker 3: crazy concept, like just the idea that if beck I
Speaker 3: structured your budget and it gave you some food, fuel
Speaker 3: and fun money, which is what I call it in
Speaker 3: my course, I gave you that money. I said, but
Speaker 3: this is the way you've got this week. Do you
Speaker 3: know what you're really good at? You are actually already
Speaker 3: good at making money stretch, thank you. You are so
Speaker 3: good at it that that has been your survival mechanism
Speaker 3: for the longest time, Right, So what if I structured
Speaker 3: everything else and then said, beck, all you have to
Speaker 3: worry about this week is one hundred and fifty dollars
Speaker 3: or twohundred dollars, everything else catered for, don't touch it.
Speaker 3: But if you run out of this money, rice and beans, yeah,
Speaker 3: nothing else until next Thursday. And you go, okay, I
Speaker 3: can do that, Like we can all do that because
Speaker 3: everything else is being fed in the background, everything else
Speaker 3: is being paid off, and then automatically you get your
Speaker 3: two hundred dollars again, and we start from scratch, like
Speaker 3: we don't have to make this overwhelming. It doesn't have
Speaker 3: to be something that feels like trash. But what you're
Speaker 3: going to do is go back to the drawing board.
Speaker 3: I need you to be really confrontational with yourself. You're
Speaker 3: going to print off three months of your credit card statement.
Speaker 3: You're going to print off three months of your bank's statements.
Speaker 3: You're going to get probably a really nice glass of
Speaker 3: wine or a cup of tea. I don't care, Beck,
Speaker 3: you're probably gonna ask me for a soda water. But
Speaker 3: we want to sit down for a good hour, like
Speaker 3: we're not talking like, oh, just quickly flip through it,
Speaker 3: like this is a tusk, this is a job. I
Speaker 3: need you to commit to this. You're going to get
Speaker 3: two colored highlighters and we're going to go through and
Speaker 3: with one colored highlighter. We're not judging ourselves by the way.
Speaker 3: We're just highlighting all the things that we can't change.
Speaker 3: So you know, maybe in a green we're highlighting you know,
Speaker 3: our rent, our you know, grocery bill, because like at
Speaker 3: the end of the day, we have to spend money
Speaker 3: on groceries. Like it's debatable as to how flexible that is,
Speaker 3: but like we can talk about that later. You know
Speaker 3: your gas bill, your electric you know your my key,
Speaker 3: your public transport, you know fuel stuff that we can't
Speaker 3: really change. Then with another color, we're going to go
Speaker 3: through and highlight the things that you know, we didn't
Speaker 3: have to spend money on, but we did. We're not
Speaker 3: judging ourselves. This isn't a list of like, oh my god, Beck,
Speaker 3: this is all the stuff you shouldn't have done. But
Speaker 3: you know what that is going to do. It's going
Speaker 3: to give you a color contrast. And I'm a visual learner.
Speaker 3: I'm going to quickly see like, oh, half of the
Speaker 3: transactions that I make are actually transactions I didn't have
Speaker 3: to make. Or you might find you've done your whole
Speaker 3: budget and you're like the like everything is actually like
Speaker 3: setting stone. I can't change this, at which point we're
Speaker 3: going to give ourselves a little bit more grace.
Speaker 4: Yeah.
Speaker 3: But also, what if we go through this and like
Speaker 3: I'm not attacking you personally, but what if we go
Speaker 3: through this and it's like pub pub vape pub or
Speaker 3: but do you know what I mean, like it's dining out,
Speaker 3: it's stuff that you could change. I'm not saying don't
Speaker 3: do it. We just want to be aware of it.
Speaker 3: And then we're going to go, Becky, you comfortable with that?
Speaker 3: And you might go yeah, like I really like my lifestyle,
Speaker 3: and I go great, but at what cost? Like what
Speaker 3: could we change? Like, oh, look at this, let's quickly
Speaker 3: have a look at one of those line items. Oh
Speaker 3: you spent twenty five bucks here, and you go, yeah,
Speaker 3: I probably didn't need to do that, like I was
Speaker 3: just doing it. Yeah, oh great, Well look what we
Speaker 3: could free up if just one time per month we
Speaker 3: didn't do one thing. Yeah, could you do that? And
Speaker 3: you're going to go yeah, but I'd have to be
Speaker 3: more conscious of it. Okay, we could do that. What
Speaker 3: if we put a system in place to make you
Speaker 3: super conscious? You go yeah, okay. I don't want you
Speaker 3: to change your lifestyle. I don't want beck to not
Speaker 3: be beck. I want everybody to have financial freedom and
Speaker 3: feel like they are completely in control. And it turns
Speaker 3: out I've got the key to that golden ticket. So
Speaker 3: let me do that for sure. But what we're going
Speaker 3: to do is lay everything out on the table. We're
Speaker 3: going to do our little like review. It sucks. I
Speaker 3: know nobody likes being confronted with their own spending, but
Speaker 3: then we're going to look at what we need. Right.
Speaker 3: So you said that you're not missing payments, money win,
Speaker 3: but you're not getting ahead. So you've said, should I
Speaker 3: be throwing everything at my personal loan? Well, I actually
Speaker 3: want you to step back for a hot second, and
Speaker 3: do you have an emergency fund? Right? Because even though
Speaker 3: you're in debt, I still think that people should have
Speaker 3: an emergency fund in debt because, Beck, what happens if
Speaker 3: you're in debt and you're throwing every single dollar towards
Speaker 3: that debt and then another emergency expense comes up. Yeah,
Speaker 3: what do you do? You're just stuck in the cycle
Speaker 3: of debt exactly. And what narrative do you tell yourself?
Speaker 3: You tell yourself your shit at money? Yeah, you tell
Speaker 3: yourself that you're not capable. You tell yourself that, oh
Speaker 3: far out this popped up and I wasn't ready for it. Yeah,
Speaker 3: because every single dollar you were throwing at your debt, like,
Speaker 3: we weren't planning for the future. We were just treading water. Yeah,
Speaker 3: that's not a good place to be. That's exhausting. So
Speaker 3: what we're going to do is we're going to build
Speaker 3: up an emergency fund. We're going to try and work out,
Speaker 3: even if it's ten dollars a week, what can we
Speaker 3: put aside so that if something in the future pops up,
Speaker 3: we could pay for it. And you know what that does,
Speaker 3: It helps break the cycle. It changes your mindset because
Speaker 3: when that rego pops up that you went ready for,
Speaker 3: or when that you know, electricity bill comes in and
Speaker 3: it turns out you and your housemates have been using
Speaker 3: the heater a lot more than you thought you were
Speaker 3: going to and you need an extra fifty bucks. Babe,
Speaker 3: that's not debt anymore. That came from cash. That feels good.
Speaker 3: And then we build back up our emergency fund. We're
Speaker 3: still paying off our debt for sure, but we have
Speaker 3: an emergency fund we can lean on to break the
Speaker 3: cycle so we don't fall back into it. And you've
Speaker 3: said in your DM I fell back into it like
Speaker 3: life got expensive, And I'm not saying that it's not.
Speaker 3: It is. We need to be super conscious of these things,
Speaker 3: but we also need to make sure that we're getting
Speaker 3: ahead instead of just trading water. Because if we're just
Speaker 3: treading water and doing what we're always doing and wishing
Speaker 3: for a different outcome, like wishes unfortunately don't come true.
Speaker 3: Wishes need to be action. So what we should be
Speaker 3: doing is getting our little emergency fund up. Then we're
Speaker 3: going to look at your credit card, and we're going
Speaker 3: to look at your personal loan and back to what
Speaker 3: you were saying, which has the lowest debt immediately last
Speaker 3: priority or are we going to reconsolidate. That's something that
Speaker 3: a lot of people lean on, but it's a bit
Speaker 3: of a catch twenty two because you reconsolidate, take the
Speaker 3: pressure off yourself, and then we fall further into debt
Speaker 3: because we didn't do anything else about our budget. Because
Speaker 3: now we're back to the idea of I just have
Speaker 3: a personal loan and I'm not feeling the pressure of
Speaker 3: being out of control. I don't want you to be
Speaker 3: out of control. If we are going to reconsolidate, we
Speaker 3: need to make a plan to get out of debt again,
Speaker 3: and then we're going to talk about our goals. So
Speaker 3: many of us are not setting goals because we're in debt.
Speaker 3: And like, if I see people who are in debt,
Speaker 3: down and what are your goals or do you want
Speaker 3: to achieve? They go, oh, nothing, don't worry about it.
Speaker 3: It doesn't matter like, oh, I'll do that when I
Speaker 3: have more money. I'll do that when I camel. Yeah,
Speaker 3: you're still allowed to dream, like You're still allowed to
Speaker 3: have aspirations and things we want to achieve, like goal,
Speaker 3: you want to go to Thailand. I want you to
Speaker 3: go to Thailand. But here are the things that we
Speaker 3: have to achieve to get there. Do you know how
Speaker 3: much sweeter Thailand feels if we achieved all of those things.
Speaker 3: We need to get out of debt, and then the
Speaker 3: money that we've been paying off debt with holy crap, Beck,
Speaker 3: we can reallocate that the amount of money that you're
Speaker 3: paying off debt is actually the amount of money that
Speaker 3: you're completely capable of saving each month without changing your lifestyle.
Speaker 3: We just have to get rid of the debt. Yeah,
Speaker 3: So for me, I would be saying, I get it.
Speaker 3: It is overwhelming, It is all consuming. And you know what,
Speaker 3: as somebody who got themselves into forty thousand dollars worth
Speaker 3: of consumer debt, I was not just ashamed. I lied.
Speaker 3: I would lie to people. They'd be like, oh haha,
Speaker 3: I would never have a credit card, and I'd be
Speaker 3: like neither, I know, why are we like this life
Speaker 3: and money gets out of control, and that is fine,
Speaker 3: but we can take back control with a little system,
Speaker 3: and mine's free. It's on the website. Go download the budget,
Speaker 3: Go listen to our get out of Debt playlists, and
Speaker 3: put yourself in the driver's seat again. Because you're not
Speaker 3: not capable like Beck. It's something that we've just never
Speaker 3: been taught totally, Like where did you learn about money?
Speaker 3: Not the place you learn about trigonometry.
Speaker 5: No, we's worn with this. I'm like, oh, I don't
Speaker 5: know how to develop empathy. It's like, well, you know,
Speaker 5: money's not in us, like from birth.
Speaker 3: Something you do have to be. It's external. You do
Speaker 3: have to be taught about it. And if you're not,
Speaker 3: then you should not be ashamed. It's diabolical that we're
Speaker 3: not taught how to live in the society that we created.
Speaker 3: But I was talking to one of my friends. At school,
Speaker 3: we had home ch class and I remember learning how
Speaker 3: to make coconut jam drops. Yeah I could do that
Speaker 3: back of my hand again because I learned in home
Speaker 3: economics class in grade eight. Yeah, yeah, totally. Where was
Speaker 3: the budget and so where was the money management? I
Speaker 3: know it's boring. I know it's not getting to take
Speaker 3: jam drops home and eat them during class. Money win
Speaker 3: or life win? But like, do you know how much
Speaker 3: more powerful I would have been if I left school
Speaker 3: knowing how to budget, or what a credit card actually was,
Speaker 3: or what superannuation could do for me? Totally, I had
Speaker 3: no idea. No, I just ticked random boxes on my
Speaker 3: super fun form because I was like, Ah, that one
Speaker 3: in brackets says most popular. I'm a pick that, yeah,
Speaker 3: for sure. What did the community have to say?
Speaker 6: So?
Speaker 3: First things First, I asked the community, have you accumulated
Speaker 3: debt due to circumstances outside of your control, for example,
Speaker 3: like illness or separation or job loss. Thirty eight percent
Speaker 3: of you said yes, I'm glad it's not more, but
Speaker 3: also that's a big chunk of our community. The next
Speaker 3: question I asked was do you feel debt is one
Speaker 3: of the biggest barriers to achieving your financial goals? Seventy
Speaker 3: percent of you said yes for sure. Then I asked,
Speaker 3: if you were in this situation, would you focus on
Speaker 3: paying off the credit card or your personal loan? First?
Speaker 3: Eighty six percent of you said credit card okay, and
Speaker 3: I get that because it's probably the highest interest rate. Yeah,
Speaker 3: and to be honest, that's where I would be going
Speaker 3: as well, because like we just the higher the interest rate,
Speaker 3: the more money you're going to pay towards it, like
Speaker 3: get out of debt sooner. And then we asked for
Speaker 3: your two cents. And this one, I feel like was
Speaker 3: really special because so many of the responses were like,
Speaker 3: oh my god, me too, Oh my god, I'm so stressed,
Speaker 3: Oh my gosh. I haven't spoken to my friends about this,
Speaker 3: Like yeah, diabolical, because I just I don't want my
Speaker 3: community to be feeling this totally. But also just girl,
Speaker 3: you're not alone turns out or just doing it, just
Speaker 3: not talking about.
Speaker 5: It exactly, and that's where the shame comes from. And
Speaker 5: seeing like no one else is like me. It's like
Speaker 5: everyone can relate to this feeling.
Speaker 3: Yeah, and even if they're not in that situation right now,
Speaker 3: Like you know, if you saw me on the street,
Speaker 3: you might go, ah, she looks like a nice girl.
Speaker 3: She's probably not in any debt. I'm struggling. I wonder
Speaker 3: if i'd ask her a question. Obviously you know me
Speaker 3: as she's on the money, so you know my story,
Speaker 3: but like you don't know a thing about me, Like
Speaker 3: if you're just passing me on the street. You don't
Speaker 3: know my history, you might make some really grand assumptions.
Speaker 3: So she's got a nice T shirt on, Like, oh,
Speaker 3: she wouldn't be experiencing what I've experienced. Girl, I got
Speaker 3: myself into forty thousand dollars worth of crippling debt. The
Speaker 3: only way I got to where I am today is
Speaker 3: because I went through that experience. Like, if we don't
Speaker 3: talk about it, we can't help people. Totally, we can't
Speaker 3: help ourselves. If I didn't start talking about it, she's
Speaker 3: on the money, wouldn't exist. True, that's pretty big. Yeah,
Speaker 3: that's to me sick. But also it's pretty good incentive
Speaker 3: to not get back into debt again. He's like, low key,
Speaker 3: that would be embarrassing. No, but I also am in
Speaker 3: a lot of debt because I've got a home loan,
Speaker 3: so like that's different. Sure. We also had a lot
Speaker 3: of people saying, pay off the credit card first, and
Speaker 3: then counsel it. Talk about consolidation. Another person said, why
Speaker 3: not look into some financial counseling. It could help because
Speaker 3: you're obviously feeling a lot of shame and these people
Speaker 3: are really really approachable. Another person said, and this is
Speaker 3: the most diabolical one. Okay, I feel like that's my
Speaker 3: word of the week. Diabolical. Yeah, I like that word. Yeah,
Speaker 3: it just feels really impactful. I agree, we're not going
Speaker 3: to do this. By the way, this terrible suggestion. They said,
Speaker 3: listen to Dave Ramsey. Who in the world is that. Oh,
Speaker 3: I'm glad he is. I would say he's the barefoot
Speaker 3: investor to the Americans. Oh, he is like the biggest
Speaker 3: finance guru. He also doesn't believe in gay rights. Also
Speaker 3: has been quoted to say, if you are in debt,
Speaker 3: you should not see the inside of a restaurant. He
Speaker 3: has been sued. He has been sued because he has
Speaker 3: like enforced his Christian beliefs on his staff. Okay, this
Speaker 3: man is horrific.
Speaker 5: I'm shocked by people who can't understand that their experience
Speaker 5: is not everyone's experience.
Speaker 3: But also to say that's somebody in debt, like and
Speaker 3: he's very like heavy on the shame, like they're like,
Speaker 3: if you're in debt, you're like, you're an idiot, Like
Speaker 3: I can't believe you get yourself in this situation. He
Speaker 3: has a whole bloody talk show. It's horrific. Like I
Speaker 3: can't stand it because every single time I like look
Speaker 3: at one of his videos and read the comments, I'm
Speaker 3: just like, why can't people see that this man is
Speaker 3: shaming other people for things that were arguably beyond their control.
Speaker 5: I want to assume that there's no aspects of his
Speaker 5: identity that make it harder to find a job or
Speaker 5: and I.
Speaker 3: Don't want to you know, No, he's a mediocre, middle
Speaker 3: aged white man. Well, this is what I'm thinking, is
Speaker 3: like the whitest of white. Yeah.
Speaker 5: So he has a very like, you know, very nice,
Speaker 5: normal life, and he's giving people advice based on his experience.
Speaker 3: And I'm like, that's dangerous. Yeah. But also the idea
Speaker 3: that if you're in debt you shouldn't see the inside
Speaker 3: of a restaurant, that's crazy. That's diabolical, diabolical. So, just
Speaker 3: so you know, we're not listening to Dave Ramsey, good idea.
Speaker 3: Don't shut it, Dave, Yeah, don't do that anyway. Lots
Speaker 3: of people back on track were very productive, though they
Speaker 3: said high interest rates, first, pay off the smallest step. First,
Speaker 3: have a look at the snowball versus the avalanche method.
Speaker 3: A lot of people say, just cancel the credit card,
Speaker 3: and then pay it off. And then someone else said,
Speaker 3: and I'm going to leave it here. Hey, I don't
Speaker 3: have any advice, but I just want to share some
Speaker 3: empathy for her situation. I hope she feels better about
Speaker 3: it soon.
Speaker 4: Thank you.
Speaker 3: Yes, it's exactly what we need. That's exactly what we need.
Speaker 3: Like nobody should feel shame. Do feel shame anyway, misspec
Speaker 3: say ed Yes, it's been a pleasure chatting with you.
Speaker 3: Or I feel like I went on a rant at you. Hey,
Speaker 3: that's okay? Is that okay? I'm sorry. I just am
Speaker 3: really passionate about debt, of course, and I think it's
Speaker 3: all it's all very useful information. So thank you anyway.
Speaker 3: Thank you again for sharing the Friday Drinks couch with me,
Speaker 3: and I guess for everybody listening being part of our community.
Speaker 3: We'll be back next week early Monday morning for a
Speaker 3: money diary, and until then, please take care, look after
Speaker 3: your friends, and have a great weekend. Bye guys. The
Speaker 3: advice shared on She's on the Money is general in
Speaker 3: nature and does not consider your individual circumstances. She's on
Speaker 3: the Money exists purely for educational purposes and should not
Speaker 3: be relied upon to make an investment or financial decision.
Speaker 3: If you do choose to buy a financial product, read
Speaker 3: the PDS TMD and obtain appropriate financial advice tailored towards
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