Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Yr
Speaker 1: the Order Kerni Whaltbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it. She's on the Money.
Speaker 3: She's on the Money.
Speaker 2: Hello, and welcome to She's on the Money. Guess that
Speaker 2: makes personal finance fun, especially on Fridays. It's our favorite
Speaker 2: day of the week because we get our little team
Speaker 2: together and celebrate you our incredible She's on the Money
Speaker 2: community as always, Miss Gott she is going to be
Speaker 2: sharing our favorite money wins. She's got a few from
Speaker 2: the community that she's rounded up. Miss becksay ed she's
Speaker 2: going to be sharing her favorite broke tips. And we're
Speaker 2: getting to answer a money dilemma, which this week is
Speaker 2: all about your landlord. Being dodgy with your bond And
Speaker 2: then Jess, I know you're excited about that one I've got.
Speaker 2: We've got something that you slid into our DMS about
Speaker 2: whether you should be worried if your partner has invested
Speaker 2: in a business with no contracts. This is also a
Speaker 2: very juicy one.
Speaker 4: Yeah, Boiler, Yes, they're both equally juicy.
Speaker 2: I love the juicy stuff that you guys slide into
Speaker 2: our DMS about, like absolutely, But before we get there,
Speaker 2: my loves how or your weeks really good?
Speaker 5: I've started really good?
Speaker 2: Weak?
Speaker 5: Yes, very good.
Speaker 2: No.
Speaker 4: I got got an iron infusion just the other day,
Speaker 4: which is like it was weird.
Speaker 5: I won't go into too much detail.
Speaker 2: Like you didn't get any staining on your arm?
Speaker 3: Give me.
Speaker 2: They give me so much anxiety. When I was they
Speaker 2: were like saying I might have to have an iron infusion,
Speaker 2: and I'm so scared of like getting a mark on
Speaker 2: my arm.
Speaker 4: Yeah, well, like they said, it's quite rare. It's just
Speaker 4: that the iron and I could see like the little
Speaker 4: tube of iron that they put in it's like like
Speaker 4: very very dark brown, which.
Speaker 5: Is so weird. It is so weird to see. Yeah,
Speaker 5: they put it.
Speaker 2: Into yours.
Speaker 5: Because love of detail.
Speaker 4: It was just a weird experience. But also, like I
Speaker 4: think the worst part of an iron infusion is that
Speaker 4: bless bless blessed. I love GPS.
Speaker 5: I love my GP.
Speaker 4: Yeah, I love her so much, but having to be
Speaker 4: in conversation for fourteen minutes with someone that fourteen fourteen
Speaker 4: minutes I just.
Speaker 2: Podcast like half an hour.
Speaker 4: Yeah, well I googled like it was like meant to
Speaker 4: be four hours a week, but anyway, they did it
Speaker 4: really quick, so it's like fourteen minutes at my GP. Somehow,
Speaker 4: I don't understand that that's a good deal. Do you
Speaker 4: feel better now you've had what? It takes a couple
Speaker 4: of weeks to kick in, but at the moment it's
Speaker 4: probably a percebo, but I feel like you just do
Speaker 4: feel a little bit better.
Speaker 2: Yeah, okay, you know I love a placebo effect though. Yeah,
Speaker 2: Like if you gave me a smarty and said it
Speaker 2: was medication and it would help me, I'd probably full
Speaker 2: for it. I'm all good with it.
Speaker 4: The brain is so powerful. Yeah, that's basically my week, honestly,
Speaker 4: not too much else. Just have an infusion, yes, get
Speaker 4: into the Christmas spirit too, which I'm sure.
Speaker 5: Yes, he was also doing.
Speaker 3: Oh my gosh, I feel listening you Christmas carols back
Speaker 3: four weeks. But if you're not following us on Instagram,
Speaker 3: we're doing our twelve days of giveaways again was kicked.
Speaker 3: It's just kicked off. And you guys, there's some really
Speaker 3: really good stuff that you can win. So if you're
Speaker 3: not following us on Instagram, you're gonna want to be
Speaker 3: because every day for the next how many twelve twenty
Speaker 3: four twenty four days? Every other day we're given away
Speaker 3: a little.
Speaker 2: Price, which is really fun, and we have done this
Speaker 2: there are a couple of years now and we get
Speaker 2: so many beautiful brands who are like, no, we'd love
Speaker 2: to work with you. It's actually so fun. And also
Speaker 2: I just love giving gifts. It's my love language, and
Speaker 2: I get a whole.
Speaker 3: Month of it, especially at this time of year. We
Speaker 3: know times are tough, so whether it's something for you
Speaker 3: or whether you want to give it as a gift
Speaker 3: to someone yourself. We've picked all of our favorite brands.
Speaker 3: You'll recognize so many of the names for things.
Speaker 2: Yeah, because they're already all over our social media.
Speaker 3: Exactly.
Speaker 2: I'm paying customer to most of these brands.
Speaker 3: Yeah, so get on over there, you guys. It's good.
Speaker 2: I love it. I feel like, is it just me
Speaker 2: or did everyone get in the Christmas spirit early this year?
Speaker 2: You know what's crazy? We were talking to us, we
Speaker 2: were talking about it. We were always talking, So it
Speaker 2: makes sense Christmas.
Speaker 3: Stuff coming out before Halloween. You know that I love Christmas, right, Like,
Speaker 3: I am not one to be a grinch, no, but
Speaker 3: it meant that we were effectively spending a quarter of
Speaker 3: the year. It's three months, three months prepping for Christmas. True,
Speaker 3: that is crazy commercialist and again like not that I
Speaker 3: can talk. I put my tree up at the start
Speaker 3: of November, but whatever, I feel like anything beyond two
Speaker 3: months is really pushing it, you know what I mean?
Speaker 2: I felt the same and this is such niche content.
Speaker 2: But last year, there was this candy cane pillow that
Speaker 2: I really wanted, right, Remember, I couldn't find anywhere, Jessica.
Speaker 2: This was important to me, and I thought, this year,
Speaker 2: I'm going to get it because it's from a store
Speaker 2: where it releases every year, so like it's it's evergreen
Speaker 2: candy cane, right. I missed it because it came out
Speaker 2: at the start of November. Oh no, but like, what
Speaker 2: are you guys doing? What are you doing?
Speaker 5: I started November? I think, is I mean that's Christmas.
Speaker 2: It came out in October, and like it was sold
Speaker 2: out by the start of November. And now it's December
Speaker 2: and I still don't have a candy. This is the
Speaker 2: biggest first world problem I've ever had.
Speaker 5: Its shaped like it.
Speaker 4: Yes, it's shaped like make you one, but I guess
Speaker 4: it's very hard to do.
Speaker 5: Shape is very even want anymore?
Speaker 2: Oh yeah, I didn't even need it out of principle.
Speaker 3: Gosh, well, have you found made to cheers up a
Speaker 3: little bit? A cute little review for us?
Speaker 2: This week we do this week we've got another five
Speaker 2: star review to share beck What is it?
Speaker 3: Okay?
Speaker 4: So this one comes from Laura. She says, Hey, guys,
Speaker 4: been loving your recent podcast apps and would be interested
Speaker 4: in hearing your advice on something. I just purchased my
Speaker 4: first property a few weeks ago, and now my work
Speaker 4: has made my role redundant. I'm so sorry to hear that.
Speaker 4: I'm worried about the adjustment being my mortgage and bills
Speaker 4: combined with unexpected unemployment. Do you have any pointers on
Speaker 4: my situation or ways to budget when I'm not receiving
Speaker 4: an income for an uncertain period of time. Thanks so much.
Speaker 2: That is so dodgy of a business. This happened to you,
Speaker 2: Jess redundant right before Christmas.
Speaker 3: Not from here, I want to preface this. Yeah, but yeah,
Speaker 3: I got made. It's interesting around. Someone said in the
Speaker 3: Money Wins, Money Losses Throat as well this week that
Speaker 3: they got made redundant. Who is making people redundant at
Speaker 3: this time of year? I'm sorry, but that's an audacity.
Speaker 5: Move on.
Speaker 3: Yeah, I remember, I got really stressed and I have
Speaker 3: the feeling of the mortgage in addition to my normal bills,
Speaker 3: so I totally Oh, I would have been off the
Speaker 3: edge of the cliff completely, So I understand how stressful
Speaker 3: it is. I would just say, if you haven't recently
Speaker 3: review your budget, if you don't have a budget, go
Speaker 3: get a need one.
Speaker 2: I've got one point on our website one hundred percent.
Speaker 2: Go to the freebiees page.
Speaker 3: It's really handy, but you just need to figure out
Speaker 3: what is the absolute barest minimum you can spend to
Speaker 3: live so rent, bills, groceries. Then once you figured that out,
Speaker 3: can you pay your mortgage? If the answer is yes,
Speaker 3: I would still cut back on all of your discretionary
Speaker 3: spending if you can, because you're going to want to
Speaker 3: buffer because the problem with being made redundant is you
Speaker 3: don't have the luxury of knowing you've got another job coming.
Speaker 3: So you could, hopefully, fingers crossed you get one really soon,
Speaker 3: but if the market's tough, it could be weeks, it
Speaker 3: could be months. Better to like tighten it up now,
Speaker 3: I reckon and write it out if you can. If
Speaker 3: you can't pay those things easy jobs Uber it's delivering
Speaker 3: Amazon Prime, like those jobs that you don't really need
Speaker 3: a qualification for that you can just pick up.
Speaker 2: In fact, Jessica, this isn't related. But next week I
Speaker 2: have an episode dropping which are festive side hustles, so
Speaker 2: things that you can do to earn some extra bank
Speaker 2: during the holidays, so things like air task and just
Speaker 2: jobs that you're able to pick up. And to be honest,
Speaker 2: if you invested the same amount of time that you
Speaker 2: were working, like let's call it thirty eight hours a
Speaker 2: week into this, I can almost guarantee that you'd be
Speaker 2: able to cover a minimum wage job. Like we're not
Speaker 2: going to make hundreds of thousands of dollars a year.
Speaker 2: But by you doing like some uber eats deliveries, by you,
Speaker 2: you know, hustling on air tasker and doing you know,
Speaker 2: some courier jobs or whatever you can actually you know,
Speaker 2: do physically and pick up, you'll be able to make
Speaker 2: it through. Like it's not ideal because obviously you're probably
Speaker 2: going to want to do like job interviews and stuff,
Speaker 2: so it might be a bit of a hustle, but
Speaker 2: I feel like that's a good plan, like a backup
Speaker 2: plan to be like, okay, cool, like I've been made redundant,
Speaker 2: or even just I'm really financially stressed. You could do
Speaker 2: a little bit of a sprint, like not just you,
Speaker 2: but people listening who are like, oh ye, I'm really
Speaker 2: financially stressed, Like you don't have to have lost your
Speaker 2: job to pick up a few things on the side
Speaker 2: to get some extra cash in the bank, to get
Speaker 2: an emergency fund to start next year off. Well, So
Speaker 2: I want to flip this over to you, because you've
Speaker 2: been made redundant before and you didn't have any say
Speaker 2: things when that happened. No, what happened? How did you manage?
Speaker 2: Tell us all the stories? Please don't say the answer
Speaker 2: is a loaf of bread.
Speaker 5: Honestly, I think that.
Speaker 4: So the second I found out I was being re redundant,
Speaker 4: I started applying for jobs. But because I think I
Speaker 4: have spent I had spent like twenty eight twenty nine
Speaker 4: years working in like entry level jobs, and then just
Speaker 4: just started doing something that I really enjoyed, which is
Speaker 4: video producing, and I was only doing that for a year,
Speaker 4: and so I feel like for me, that life of
Speaker 4: not that that's a bad thing or anything, but I
Speaker 4: just wasn't enjoying it that much. My life of like
Speaker 4: going back into hospital was not so far out of
Speaker 4: reach for me. I was really kind of scared. So
Speaker 4: I think myself I would advise if I did it
Speaker 4: all over again, not to be driven by my ego
Speaker 4: and just be like, I'm going to apply for jobs
Speaker 4: at the pub or jobs in all of those jobs.
Speaker 4: Just I don't have to be forever, right, It doesn't
Speaker 4: have to be forever exactly. It's just even if you
Speaker 4: have like a few days where you're working behind the bar,
Speaker 4: just until you every other day you're applying for jobs,
Speaker 4: maybe going to interviews all these other stuff. Just just
Speaker 4: do something in between. If you can start tomorrow working
Speaker 4: as a kitchen hand at a cafe or at a
Speaker 4: pub or what, then just honestly do it. That's not
Speaker 4: to say, like when I say I'm driven by my ego,
Speaker 4: it's not to say that those jobs are necessarily about it.
Speaker 2: I feel like once you got to this like dream
Speaker 2: role of being a video producer, like I don't want
Speaker 2: to go back, go back to what I was doing before,
Speaker 2: but exactly so many times and like I saw this
Speaker 2: when I had my financial advice business, and these things
Speaker 2: would happen to clients occasionally, and I feel like we
Speaker 2: fall into this mentality of assuming that that's the trajectory
Speaker 2: that your entire life is on. Yes, oh, Beck, you've
Speaker 2: been made redundant. What are you going to do now?
Speaker 2: And the reality is like, oh, I can find the
Speaker 2: job that I really want, But like I can feel
Speaker 2: my time yeah. Like and I feel like if someone
Speaker 2: had sat you down and said, oh, Beck, like you
Speaker 2: could just take a job at the pub and it's
Speaker 2: not forever. I feel like so many times you do
Speaker 2: feel like you're going backwards, even though that's not the reality,
Speaker 2: because you're like, oh, I'm going to go quote backwards.
Speaker 2: It's not back to a worse job. It's just back
Speaker 2: to what you knew and started doing, maybe less financially,
Speaker 2: less financially you know, beneficial. I suppose while you're applying
Speaker 2: for new video producer jobs, Yeah, exactly, we can still
Speaker 2: get money in the door. And I think that that's
Speaker 2: one of the most I don't know, I think it's
Speaker 2: this is you know, probably a lot. And I like
Speaker 2: that they're asking questions now in reviews, but I'm going
Speaker 2: to spend a lot of time on them. And I
Speaker 2: think that's one of the best features of people who
Speaker 2: are good at money. That's this idea that no job
Speaker 2: is beneath them, Like this idea that oh, if you know,
Speaker 2: the proverbial hits a fan, I'll just go work in
Speaker 2: a warehouse, like Jess, you did the same thing, Becka,
Speaker 2: I know you do the same thing, and I absolutely
Speaker 2: would do the same thing to make sure that I
Speaker 2: could pay my way. Like I'm not the type of
Speaker 2: person who's like, oh I won't do that, check my
Speaker 2: child's dirty. Your job's a.
Speaker 4: Job, totally.
Speaker 2: I think that that mentality is going to make you
Speaker 2: feel more secure as well, like, oh, well, in that case,
Speaker 2: I am very privileged to be completely able bodied I
Speaker 2: can just go grab a job like I'm not hindered
Speaker 2: by that, and so many people are. And I think
Speaker 2: that just having a body that means I can go
Speaker 2: and work in a warehouse is a bloody privilege. So
Speaker 2: I think that you know, it is probably not what
Speaker 2: you want to hear, but find something to fill the time,
Speaker 2: find something to fill the space and your wallet, and
Speaker 2: then go and find another dream job that doesn't make
Speaker 2: you redundant next time.
Speaker 3: And it's not your fault. I remember when I got made redundant.
Speaker 3: I just felt really shit about myself. And it's not
Speaker 3: on you. There's so many factors that go into that.
Speaker 3: So don't let that get you down or give you
Speaker 3: imposter syndrome when you're applying for new jobs, because I'm
Speaker 3: sure you're really great, and.
Speaker 2: It's never about your competency. Actually, I've got a question,
Speaker 2: be what job were you made redundant from video producing? Yeah?
Speaker 2: And what's your job now?
Speaker 5: Digital content producing?
Speaker 2: And also, oh okay, so you're still do so you
Speaker 2: basically upgraded. And it wasn't because you were about it
Speaker 2: your job that you were made redundant. It was just
Speaker 2: like the business structure.
Speaker 4: Exactly, because the exact same place.
Speaker 2: Just with a little bit of a pay riser and
Speaker 2: a better job. But I think that that's important to
Speaker 2: put on the table too. As you write yes, like
Speaker 2: so often you're like maybe it was just like and
Speaker 2: your brain's awful, Like your brain is the worst thing
Speaker 2: to you. Your brain's going to be like they can
Speaker 2: copt it this massive plan to have bulk redundancies at
Speaker 2: my job because I'm so bout at it, and they
Speaker 2: just didn't want to tell me that's how my brain
Speaker 2: would have worked. So I think that we need to
Speaker 2: just kick that out anyway. I also, while we're here,
Speaker 2: I was laughing because I got an email notification the
Speaker 2: other day and I screenshot it to say that for
Speaker 2: this episode, because it was You've just received a five
Speaker 2: star review on She's on the Money, and I was like, excellent, Yeah,
Speaker 2: but what is this. I don't have my Apple review,
Speaker 2: Like you can't get notifications for that.
Speaker 3: It was on Google Google.
Speaker 2: And I'm assuming what happened was this person Stephanie. I'm
Speaker 2: gonna read it out. She was so tiny, but I'm
Speaker 2: assuming Stephanie just doesn't use Apple and was like, oh,
Speaker 2: I really want to leave a review, and I love that.
Speaker 2: So if you're not on Apple, you can also reviews,
Speaker 2: which I did so anyway, So Stephanie, she left a
Speaker 2: Google review and it says obsessed, obsessed, obsessed. She's on
Speaker 2: the money has truly changed my life in a way
Speaker 2: that I didn't think could happen. Victoria, Jess and the
Speaker 2: other most beautiful girls, and I absolutely adore listening to
Speaker 2: them every single morning. Thank you for your tips and tricks.
Speaker 2: You have helped me move away from after pay zip
Speaker 2: pay my personal loan and now I'm able to save
Speaker 2: and I have a little investment too. Just listen to
Speaker 2: five minutes of any of their podcasts and you'll be hooked. PS.
Speaker 2: I'm obsessed with Money Diaries. It's so sweet, so sweet,
Speaker 2: but also like I'm obsessed with Money Diries too, Queen,
Speaker 2: Like the my favorite episode of the week because you
Speaker 2: just get the pervydats.
Speaker 5: Yeah.
Speaker 2: Like, how often are you sitting at brunch back? Can
Speaker 2: you sitting next to someone and you're like, I wonder
Speaker 2: what they earn, what do they spend, what's in their
Speaker 2: bank account? Maybe other people aren't thinking this way at brunch,
Speaker 2: but I am, And I just think how much of
Speaker 2: a privilege is it to sit down and somebody genuinely
Speaker 2: be like, Oh, I'll tell you what tell you what
Speaker 2: I spent, I'll tell you what's in my super tell
Speaker 2: you what's in my savings. Oh this is how how
Speaker 2: I can afford my house be for real.
Speaker 4: Those congratulations for getting away from maft paid.
Speaker 2: Ye's amazing she moved away from after pay and zippay.
Speaker 2: But Plana falls into that same thing. Side note too,
Speaker 2: this is a rogue episode. I do apologize. I saw
Speaker 2: that multi how I've been on my multi level market
Speaker 2: I'm like a month ago, and I haven't spoken about
Speaker 2: this at all since then because I've been trying to
Speaker 2: keep a lid on it. But it's coming back. It
Speaker 2: just it's coming back. It's inside of me multi level
Speaker 2: marketing company money, which we've talked about on he h.
Speaker 2: They've started offering Klana. It's just like nay. I think
Speaker 2: they had a little board meeting and they sat around
Speaker 2: and they said, hello, Jessica, how do we become more toxic? Yeah, like, ah, yes, yes,
Speaker 2: we're going to get buying now, pay later, perfect perfect perfect,
Speaker 2: And so now all of the money girlies are like,
Speaker 2: you can start your business by taking out a klan alone.
Speaker 3: Oh I don't like that. That makes me nervous.
Speaker 2: I know same only anyway, There'll be more MLM content
Speaker 2: to come up, But for nowt's talk about something more positive,
Speaker 2: Miss Jessicricci. What are your money ins and confessions from
Speaker 2: our community?
Speaker 3: All right, I'm going a rapid fire and ladies, because
Speaker 3: we've been yapping. The first one I've got is from Hannah.
Speaker 3: She said she put twenty dollars per week away every
Speaker 3: week since Christmas, and now she's got one thousand dollars
Speaker 3: to spend this year on all things Christmas related. Just
Speaker 3: a very smart tip. I know that obviously a bit
Speaker 3: late now for this Christmas, but once you know we
Speaker 3: hit twenty twenty five, good lord, start putting your twenty
Speaker 3: bucks away people. It really up. Next, I've got a
Speaker 3: money win from Ashley, who said she updated her house
Speaker 3: and contents insurance and she got higher coverage. But she's
Speaker 3: saving herself thirty bucks a month because she switched.
Speaker 2: Companies money and also was worth looking, wasn't it.
Speaker 3: Absolutely? It's that time of year people renegotiate your deals. Next,
Speaker 3: I've got one from Jess, who said my partner proposed
Speaker 3: love that I just love love I congratulations are so exciting.
Speaker 3: She said they were on a trip to Tazzi and
Speaker 3: they managed to get free flight upgrades, free chocolates, a
Speaker 3: bottle of shampers, almost god yeah, framed photos for half priced.
Speaker 3: She said it was such a lovely trip and all
Speaker 3: of the extra freebies made it really special.
Speaker 2: That's really sweet. I love that Tasmanians. They're just really
Speaker 2: good people, you know. Oh really, yeah, I've only.
Speaker 5: Met good ones.
Speaker 3: Yes. Next, I've got a money when from Adriana, who
Speaker 3: said she's just discovered the eighty O app. I don't
Speaker 3: know how because Victoria raves about it.
Speaker 2: It's because I think you guys hear it and you're
Speaker 2: like these so on cold you tuned out.
Speaker 3: We need to get on it.
Speaker 2: How you come crawling back, don't you?
Speaker 3: There?
Speaker 1: You go?
Speaker 3: Adrianna says she's been adding her work travel deductions as
Speaker 3: well as other ones as she spends them. She's already
Speaker 3: got one thousand dollars introductions that she definitely would have
Speaker 3: forgotten about by the time next tax time rolled around.
Speaker 2: Honey, when se see take my recommendations as gospel guys,
Speaker 2: we should just be listening.
Speaker 3: Next, I've got money in from Kelly, who said a
Speaker 3: friend generously gave me some school uniforms and wouldn't let
Speaker 3: me give them any money in return. I feel like
Speaker 3: I remember my mum's friends doing that for us. If
Speaker 3: kids go around of it and you're not going to
Speaker 3: use them again as well, pass come on. The same
Speaker 3: friend also offered to let her park at her place
Speaker 3: for free when she travels in lieu of airport parking
Speaker 3: and parent so nice.
Speaker 2: Yeah, is so expensive.
Speaker 3: And crazy expensive. And lastly this week I've got a
Speaker 3: money in from Rhiannon who said she went to the
Speaker 3: dump shop, which I kind of forgot this shop. So
Speaker 3: you know how you have your local tips where you
Speaker 3: you know, a lot of the tips will have stores
Speaker 3: where anything that's like decent, so a lot of people
Speaker 3: will clean stuff out in hardish that's still got.
Speaker 2: I didn't know that. Here we go.
Speaker 3: So if you oh, this is a broke tip, yeah,
Speaker 3: if the little crossover happening here, like the sweet lives
Speaker 3: on deck, if you send something like decent quality of
Speaker 3: the tip, they'll often pull it out and take it
Speaker 3: put it in the tip shop, which is kind of
Speaker 3: like an up shop, and things are like crazy cheap.
Speaker 2: You're doing putting things in the tip if they don't
Speaker 2: need to go in the tip.
Speaker 3: Oh, I completely agree, you're making me mad. Must be
Speaker 3: really common. So Rihanna went to her local one and
Speaker 3: she found three pieces of cast iron cookware.
Speaker 2: Oh my gosh money.
Speaker 3: They were having a fifty percent off sales, so she
Speaker 3: got all three pieces of cast iron for fourteen bucks.
Speaker 2: Oh my gosh.
Speaker 3: That's so Coral iron cookware is like hundreds years. It's
Speaker 3: really expensive, and it's the kind of thing.
Speaker 2: What I asked for for Christmas is that. Yeah, I
Speaker 2: asked for all one. I've asked for one pot for Christmas.
Speaker 2: That's so. I was just wondering could I please have
Speaker 2: a Lucrucia pot? And my husband's like, you want me
Speaker 2: to buy kitchen stuff? And I'm like, I was like, well,
Speaker 2: he doesn't. And I also really like that. He was like,
Speaker 2: are you sure you want me to buy you like
Speaker 2: a kitchen things for Christmas? And I'm like, One, you're
Speaker 2: going to probably fall off your chair when you go
Speaker 2: and purchase it because it's very expensive, and two it's
Speaker 2: kind of for me, like it's not actually for the kitchen,
Speaker 2: like and which color did you I actually haven't decided,
Speaker 2: so I'm tossing up. This is a very big decision.
Speaker 2: So there's their seasonal color, which is peachy. It's peach
Speaker 2: and Jess it has a gold lead that it's really cute.
Speaker 2: But also do I go for something more classic like
Speaker 2: the ivory and like, you know, you have it because
Speaker 2: you're going to have it for years. You don't buy
Speaker 2: a cast iron pot, Yeah, but apparently you do, so totally,
Speaker 2: I'll just bought just the orange one orange photos because
Speaker 2: it actually is so much so in then you could
Speaker 2: have orange pot.
Speaker 4: But it's fine, it's really really cool.
Speaker 6: Yeah.
Speaker 2: But then also that's where I'm my head's at and like,
Speaker 2: do I pick up color? That's really fun because like anyway,
Speaker 2: that's a very big oh yeah, pot dilemma, Jessica, what
Speaker 2: else have you got? That's it?
Speaker 3: But Rihanna did say that as she was leaving the tip,
Speaker 3: she also found two bucks in the ground.
Speaker 5: There you go.
Speaker 2: See, as we say in the she's on the money team,
Speaker 2: good things happen to good people. Absolutely exactly right, exactly.
Speaker 2: I love it now, bet, Yes, jess had a pretty
Speaker 2: good broke tip.
Speaker 4: I know, can you one up her? I'm going to
Speaker 4: try my best. So this is like Christmas gift related.
Speaker 2: She's themed it.
Speaker 4: Yes, So this first one comes from Rena, who says that,
Speaker 4: so this is like, I guess, a bit harder unless
Speaker 4: you are close by, you know, regional towns or places,
Speaker 4: you know, when you see those olive trees. Those olive
Speaker 4: trees are just like along the coast or along the.
Speaker 2: Roads, like the one in my launde room that just
Speaker 2: died because you have to water. And then my husband
Speaker 2: was like the olive trees looking a little bit dire,
Speaker 2: and I was.
Speaker 5: Like, oh, I know they could live inside.
Speaker 2: Maybe they can't. Maybe that's the issue.
Speaker 4: Well, I actually did this a few years ago with
Speaker 4: live and we we just picked all these olives off
Speaker 4: and you can tell they're ready somehow and I can't
Speaker 4: remember off the top of it. And then you just
Speaker 4: chuck them all into like literally like a salt brine,
Speaker 4: like a salt water situation. You leave there for a
Speaker 4: few months. So maybe not for this Christmas, but or
Speaker 4: even like I feel like it's oh yeah, they were delicious,
Speaker 4: Oh really garlic. It was really really good. So you
Speaker 4: can brind your own olives that way. Put them in
Speaker 4: a little like glass jar and put a little they
Speaker 4: built a ribbon around it.
Speaker 2: Cute.
Speaker 3: I feel like the olive branches would make really pretty
Speaker 3: Christmas Day call. You can make res with them, or
Speaker 3: garland down your table or something would be exp pretty.
Speaker 2: The actual railroads, I feel like the railway always has
Speaker 2: and this is probably more like get too close to
Speaker 2: the railway. Okay, no, no, no, I'm talking about the
Speaker 2: nature strip beside the railway. Trees on the railroad, if
Speaker 2: there are, I'm concerned because the train would run into them, Jess.
Speaker 2: But they have lots of like natives along the railroads usually,
Speaker 2: and that's where I get a lot of my like
Speaker 2: eucalyptus for table decoration. Yeah, yeah, courage to go back
Speaker 2: to your hunter gatherer days and just gather, you know, yeah, preferably.
Speaker 2: But yeah, that's why I said, by the railroad, so
Speaker 2: you're not stealing it from some poor Nona's front yard
Speaker 2: or something like cover like you can strip non as trees. Yeah,
Speaker 2: what else have you got apart from olives?
Speaker 1: Oh?
Speaker 5: Yes, okay, this is in a similar vein.
Speaker 4: But Sam says that if you get a bulk, say condiments, gems,
Speaker 4: olive oils, alcohols, and you get yourself like little jars
Speaker 4: of I don't know, Mason jars or little like bottles,
Speaker 4: glass bottles, just and you make a bunch of gifts
Speaker 4: to give to either like that you know, your teachers,
Speaker 4: your bosses, anyone. Really it's like you made jam that
Speaker 4: you didn't have to make the jar exactly, and.
Speaker 2: You get like you could take the credit.
Speaker 5: You could like this.
Speaker 2: Tastes exactly like coddies, and you'd be like, I'm just
Speaker 2: really good at I don't know what you.
Speaker 4: Mean exactly, I'm really really good to make a jam.
Speaker 4: And even like olive oils, like little olive.
Speaker 3: Oil thing, like if you want a data personal touch.
Speaker 5: Exactly, put some chili's in there. It could just looks
Speaker 5: really cool.
Speaker 4: And I think, like, I mean, maybe it's because we're
Speaker 4: olive oil economy. Yeah, that's what I'm thinking. I'm like,
Speaker 4: if I received a little thing of olive oil, I'll
Speaker 4: be stoked. So I think it's really cute. I think
Speaker 4: it's just a really good idea. And then from myself,
Speaker 4: I found this one on Reddit. There's so many little
Speaker 4: subredits that are you know, frugal broke, you know all
Speaker 4: these things. I think, you know, if you're just wanting
Speaker 4: to have a browse on any old day where you're
Speaker 4: just feeling like you need some help.
Speaker 2: But also they're quite entertaining, like some of the things
Speaker 2: people are willing to do to save a dollar.
Speaker 4: Not for me, what impressive content is impressive? Well, this
Speaker 4: one that I found is called buy Nothing. It's mainly
Speaker 4: in the US, but you there are some places in Australia.
Speaker 4: I feel like it's going to take off in Australia
Speaker 4: maybe like in the next few years hopefully, but for
Speaker 4: right now, you just chuck your address in and it
Speaker 4: will try and find people around you who are either
Speaker 4: giving away or asking for something. So it's like, you know,
Speaker 4: for example, I found one today there was like two
Speaker 4: new Christmas Bugs just give. They're just giving them away.
Speaker 1: You know.
Speaker 4: It's like it's like a community where people are trying
Speaker 4: to help each other out during Christmas time, either providing
Speaker 4: free gifts or asking for free gifts. And yeah, it
Speaker 4: was really sad. There was a few people there were like,
Speaker 4: you know, have kids and I literally can't.
Speaker 5: Afford to by them anything.
Speaker 2: But I also love Yeah they're asking for help exactly exactly,
Speaker 2: And it's a community where that people are wanting to
Speaker 2: help people like that, So yeah, I think yeah, buy
Speaker 2: nothing right now.
Speaker 4: Not heaps on there for Australians, but it will have
Speaker 4: lots of local face takers.
Speaker 2: But if more Australians find out whya, this podcast become big. Yeah,
Speaker 2: you're doing the Lord's work back And that was a
Speaker 2: good rap, long but good, So let's go to a
Speaker 2: really quick break on the flip side. We're going to
Speaker 2: be talking about dodgy landlords, which is just his favorite
Speaker 2: spice of life. And we're also going to be discussing
Speaker 2: something you slid into our DMS about this week. We're
Speaker 2: chatting whether you should be worried if your partner's invested
Speaker 2: in a business but they're in a contracts so don't
Speaker 2: go anywhere.
Speaker 3: Welcome back, everybody. Let's take a listen to this week's
Speaker 3: money dilemma.
Speaker 6: Have you got a money dilemma you just can't solve?
Speaker 6: The Sheese on the Money team is here to help.
Speaker 6: Every week we tackle your dilemmas, both big and small,
Speaker 6: to answer your most burning money, career and life questions.
Speaker 6: To get involved, simply head to our website and leave
Speaker 6: us a short voice recording and you might just find
Speaker 6: yourself on the show. Now, let's take a listen to
Speaker 6: this week's money dilemma.
Speaker 7: Hihi's on the money. I have an interesting money dilemma
Speaker 7: for you. My friend and I have been renting a
Speaker 7: house together for almost a year and we have just
Speaker 7: been issued with a notice to leave. We have come
Speaker 7: to find out through sources other than our real estate
Speaker 7: that the reason the house is not being renewed is
Speaker 7: because the house is being demolished. Our landlord has indicated
Speaker 7: that we will not be receiving our full bond due
Speaker 7: to supposed damage to the property, and they require the
Speaker 7: bond to make the repairs. The house itself is quite
Speaker 7: old and requires a lot of work, hence whit it's
Speaker 7: being demolished. But we have been really great tenants and
Speaker 7: have looked after the place as if it were our own.
Speaker 7: It just feels wrong to be handing money over for
Speaker 7: this when we know the house will literally be knocked
Speaker 7: down after we move out. Is it right for our
Speaker 7: landlord to take money from our bond to supposedly do
Speaker 7: repairs even when we know the house is being demolished.
Speaker 7: How can my friend and I approach the situation without
Speaker 7: losing our money? We would love your thoughts on this.
Speaker 7: Thank you.
Speaker 2: Ah, this is for Jessica makes me angry.
Speaker 3: So first things first, keep in mind that laws and
Speaker 3: regulations vary state by state, so we're talking about VIC.
Speaker 3: Definitely head to your state tenant's website or the Consumer
Speaker 3: Fair website to get more information. But first things first,
Speaker 3: they have to actually tell you exactly what they're repairing.
Speaker 3: They can't just say, oh, we're keeping a grand because
Speaker 3: we feel like it. Ask them for an itemized breakdown
Speaker 3: of what needs to be prepared. Once they provide you
Speaker 3: that breakdown, you can review it. Hopefully some of those
Speaker 3: things will come under what's called regular wear and tear.
Speaker 5: So in a.
Speaker 3: Particularly old house especially, you would expect for there to
Speaker 3: be wear and tear, for example, cracks in the walls,
Speaker 3: or carpet that's pilling or pulling up a little bit.
Speaker 3: There are lots of things that would be considered normal
Speaker 3: wear and tent and the older the house is, the
Speaker 3: more you can expect to be wrong with it. The
Speaker 3: other thing that I would ask for, if you don't
Speaker 3: have your own copies already, is the photos from when
Speaker 3: you moved in, so there will always be a documentation
Speaker 3: of the state of the house at the time of handover.
Speaker 3: Some of those issues might have predated you, or you know,
Speaker 3: maybe the carpet had already started pulling up, and you
Speaker 3: can refer back to them and say, hey, like, actually,
Speaker 3: that's what it was like when we.
Speaker 2: Men didn't want it to get worse. You should have
Speaker 2: fixed it then.
Speaker 3: Correct, Like, you were aware that it was a problem,
Speaker 3: you continued to rent it out due to the age
Speaker 3: of the house, blah bah blah.
Speaker 2: So having that, I would not want to get on
Speaker 2: the wrong side of Jessica.
Speaker 3: Just don't be trying to do people dirty, like this
Speaker 3: is why landlords have a bad name. Not all landlords
Speaker 3: are bad, but some of them are sketchy af It's
Speaker 3: so true though, So get yourself that list, review it,
Speaker 3: figure it out from there. Did you know at least
Speaker 3: in Victoria you can claim your bond back without like
Speaker 3: actually having to go through your landlord. You can do
Speaker 3: it through the website the day you move out, and
Speaker 3: if they want to fight against that, they actually have
Speaker 3: to give a reason to vcat.
Speaker 2: So you go claim your bond. Correct.
Speaker 3: My thought would be claim your bond back in full,
Speaker 3: and then they've got to argue it and if the
Speaker 3: house is going to be demolished, that's something that I
Speaker 3: would then bring up in a VCAT hearing and like,
Speaker 3: I know that sounds really scary, like go to VCT,
Speaker 3: but honestly, like it's there to well. VCAT is the
Speaker 3: Victorian Civil Administrative TRIBUTEAL and I'm sure there's an equivalent
Speaker 3: in whatever state you're in. Sorry, I forgot for a
Speaker 3: second that they're different everywhere, But I know it sounds.
Speaker 2: Scary to VCAT. If you're in New South Wales too,
Speaker 2: it just is going to be very unproductive and it's
Speaker 2: actually going to do nothing. It's a long road trip,
Speaker 2: so don't take Jesse's advice there. But everything else she
Speaker 2: said golden.
Speaker 3: Yeah, So like I know that it sounds scary like
Speaker 3: going a QURT or whatever, but those systems are in
Speaker 3: place to protect you. And if they're going to I'm sorry,
Speaker 3: if they're going to knock the house down, you're not
Speaker 3: going to be repairing anything like that's ridiculous.
Speaker 2: Yeah, are we not calling them out on this? Literally
Speaker 2: like sorry, sorry, before we go to VCAT, I would
Speaker 2: be picking up the phone and be like hello, mister
Speaker 2: real estate man. Through my sources can you just confirm,
Speaker 2: Am I correct in thinking that this house is going
Speaker 2: to be demolished?
Speaker 5: Yeah?
Speaker 2: Oh yes, yes, So why are we fixing things if
Speaker 2: you're going to rip it down? Yes?
Speaker 3: Yes, okay ye tell them, you know, like let them know,
Speaker 3: I know, and let them know that you're going to
Speaker 3: put up a fight as well, because I think in
Speaker 3: my experience, unfortunately a lot of the time property managers
Speaker 3: and all landlords you know, who have kind of tried
Speaker 3: to Jimmy dirty, have often had the experience.
Speaker 2: When successfully By the way, no you can do Jess dirty. No, no,
Speaker 2: no no.
Speaker 3: If I definitely wrong by all means, but like but
Speaker 3: also just knows she never does wrong. I don't think
Speaker 3: people should be punished for renting houses like y're so silly.
Speaker 3: So I think sometimes just letting them know that you
Speaker 3: know you're rights and saying, hey, like I actually know
Speaker 3: that as per tenance Victoria, I am legally entitled to
Speaker 3: X y Z can often just be like a bit
Speaker 3: of a subtle way of saying, hey, my dude, lack,
Speaker 3: I'm going to fight you on this, and it can
Speaker 3: sometimes make them go, oh, it's not just going to
Speaker 3: be an easy wah srap.
Speaker 2: What would you do, babe.
Speaker 4: Honestly, I would do everything just said. But also I
Speaker 4: just moved out of this one house. It was like
Speaker 4: going to be demolished, and the wall like it was
Speaker 4: ugly inside the room, Like the front wall the front
Speaker 4: of the house is detaching. You could see that straight
Speaker 4: from someone's bedroom. It was like really really, But we
Speaker 4: were like, we're not going to get up on back,
Speaker 4: like we're happy to let let this one go, but
Speaker 4: it was going to be demolished. We have the whole
Speaker 4: thing back without even yeah, because they so it's like,
Speaker 4: that would be so mean to keep that for your renovations. Yeah,
Speaker 4: so I think that I guess were only concern And
Speaker 4: I don't know if this makes sense, but if they
Speaker 4: didn't find out from the landlord, it is possible the
Speaker 4: landlord will lie about demolishing it, like if they're like
Speaker 4: trying to keep it a secret like that because they
Speaker 4: didn't hear from you know, would that be an issue.
Speaker 2: Or it could be.
Speaker 3: It could absolutely be if whoever told you he was
Speaker 3: willing to put it in writing though.
Speaker 2: Then but that's because guys, I'm an adult. So I
Speaker 2: called Consumer Affairs to ask myself obvious obviously, I was
Speaker 2: going to do that, Like I read the PDS, I
Speaker 2: read the TMD, I read the instruction manual. If it
Speaker 2: comes in a box, I'm going to call consumer affairs.
Speaker 2: So we called consumer affairs and they said that to
Speaker 2: claim anything on the bond, you can request receipts. So
Speaker 2: not only do they have to justify it and give
Speaker 2: you a full breakdown of exactly why they need to
Speaker 2: keep certain amounts, but if they said, oh, Jessica, we
Speaker 2: need to keep three hundred dollars of your bond for this,
Speaker 2: you'd be like, okay, cool, where's the quote? Like show
Speaker 2: me why it's exactly three hundred dollars. You don't just
Speaker 2: get to guess. And a lot of real estate agents
Speaker 2: aren't going to let you know that that's how it
Speaker 2: actually works, because they're going to say, oh, jess we
Speaker 2: need to keep three hundred dollars and you're going to go, oh, okay.
Speaker 2: But they can't spend that money, nor can they take
Speaker 2: that money from you without consent. So if you say no,
Speaker 2: you actually can't take that out of my bond, sorry,
Speaker 2: they actually can't take it out. They have to escalate
Speaker 2: thatcat as jess was talking about before. So I called
Speaker 2: for you, and they said that if their plan is
Speaker 2: to demolish the house, they need to call Consumer Affairs
Speaker 2: themselves and have a conversation with them. So you would
Speaker 2: go back and say no, actually, like we've heard that
Speaker 2: the property is going to be demolished, and hopefully they go, yeah, actually,
Speaker 2: you're right, complete like, oh we didn't oh yeah, complete
Speaker 2: issue on our end. We completely forgot the real estate
Speaker 2: agent was just doing their job, or the real estate
Speaker 2: agent might not have known, because we're just going to
Speaker 2: assume the best of people, right, Like, let's assume the
Speaker 2: real estate agent didn't know because this is the landlord's
Speaker 2: plan and you've heard from their friend Barry at the
Speaker 2: coffee shop, right, So go to the real estate agent,
Speaker 2: be like, could you please just check with the landlord
Speaker 2: because I know that you're doing your job correctly by
Speaker 2: requesting this to fix this, but I've heard they're knocking
Speaker 2: it down, so like that would actually be fruitless waste
Speaker 2: of labor, So could you just check and then if
Speaker 2: they have pushed back on that, be like okay, cool,
Speaker 2: So before we move forward, could you please call and
Speaker 2: get some advice from Consumer Affairs because I called them
Speaker 2: and they said that you should do that and see
Speaker 2: what happens and then escalate like Jessica would.
Speaker 3: The foundation of at all is you should fight for
Speaker 3: the money. It's your money. And like again, the bond
Speaker 3: is there so that if something had gone wrong, if
Speaker 3: you had a cat and a cat had torn up
Speaker 3: the carpet, then absolutely the bond should be used to repair.
Speaker 2: That, unless they're ripping out the carpet, which case fight
Speaker 2: that exactly right. It's there to protect the landlord from damage.
Speaker 2: But if you have looked after the house, which is
Speaker 2: what you're saying you have, then really they should have
Speaker 2: no claim on it. And importantly, that bond, while you
Speaker 2: know it's there to protect the house, and you know
Speaker 2: there are some definite fair claims on using bond money, yeah,
Speaker 2: can't be used without your consent yet remember that, so
Speaker 2: don't forget that. They are going to have to come
Speaker 2: back to you and say, by the way, you're not
Speaker 2: going to get three hundred dollars worth of your bond back,
Speaker 2: at which point you go, no, no, no, that's not the case,
Speaker 2: because I think so many times real estate agents frame
Speaker 2: it in a way that says, oh, by the way, yeah, no, no, no,
Speaker 2: it's not. By the way, you have to ask me
Speaker 2: for consent to spend that money, because even though it's
Speaker 2: in trust sitting over there, that's just to give you
Speaker 2: security that have got the cash, doesn't mean you could
Speaker 2: just spend it however you want. Also receipts. Also, I
Speaker 2: could say that that's a really terrible quote. No want
Speaker 2: another option, because you're technically still spending my money, it's
Speaker 2: not yours. Yeah, important, stick.
Speaker 5: It to the man.
Speaker 2: Absolutely, absolutely, you guys. Oh, thank you Cold Consumer Affairs
Speaker 2: for that one. We had got a DM this week.
Speaker 2: It's a little bit spicy. Are you ready? I'm very excited. Okay, okay, okay,
Speaker 2: so high sheese on the money. I love the pod.
Speaker 2: So my partner invested most of his savings into the
Speaker 2: startup of a small business with a former colleague, which
Speaker 2: opened two years ago. The agreement is that they are
Speaker 2: fifty to fifty owners because they put in equal amounts
Speaker 2: of money. I have a lot of concerns and it
Speaker 2: makes me really anxious because there's no formal contract between them.
Speaker 2: When I ask, he can't tell me the plan for
Speaker 2: returns on his investment into the business. I also worry
Speaker 2: because they hardly meet or send formal documentation on how
Speaker 2: the business is doing. I feel uneducated on what this
Speaker 2: should look like. But no, it's not good. It's a
Speaker 2: touchy subject for me to bring up. And in the
Speaker 2: past he's asked why it's my business, but I feel
Speaker 2: like it is absolutely my business because we are partners
Speaker 2: and I have shared financial goals for the future, such
Speaker 2: as buying our first home together. I would love to
Speaker 2: know what your thoughts are on this whole situation.
Speaker 4: M I don't know about the business side of things,
Speaker 4: but I just feel like this partner of yours might
Speaker 4: be gaslighting you a little bit gas lighting here, feeling
Speaker 4: a little bit too reminiscent of that production gas I
Speaker 4: just think like, even if it was a friend of yours,
Speaker 4: even if there's no like shared goals, shared financial goal
Speaker 4: was like literally building a life together with somebody kind
Speaker 4: of thing, even if it's just friend and they're like
Speaker 4: being really really dodgy about something that they're doing a
Speaker 4: big thing they're doing their life, Like hete this feels weird,
Speaker 4: Like why are you not telling me anything? You know
Speaker 4: what I mean.
Speaker 2: I've literally done the same thing to Jessica before. In
Speaker 2: the nicest way. Possible because she has her own side
Speaker 2: hustle and like has her own influencer business and does
Speaker 2: a whole heepe of stuff. I've like poked my nose
Speaker 2: in and be like, OI, when you said that, what
Speaker 2: did you mean? Do you know why? Because I'm caring
Speaker 2: about Jess. Yeah, because I want the best for her.
Speaker 2: And I'm pretty sure you're asking about your partner's business
Speaker 2: because you're like, hold on, are you going to be
Speaker 2: screwed over?
Speaker 3: Yeah? Like you care about that?
Speaker 2: Yeah, Like it's not me going I want some manys. Yeah,
Speaker 2: Like it's me going. Oi. You know how you said
Speaker 2: that I probably wouldn't ever let that happen in a contract,
Speaker 2: or I wouldn't do this, or I wouldn't do that,
Speaker 2: and like you can take my advice and put it
Speaker 2: in the bin and that's fine. But if your partner
Speaker 2: is asking questions, it's usually because they care about you totally.
Speaker 4: So for so many reasons. There's so many layers and
Speaker 4: so many I guess yeah, yeah, yeah, just so many
Speaker 4: reasons why you probably should be.
Speaker 5: In on this whole thing. There just a little bit
Speaker 5: of information.
Speaker 2: You don't need to be on the contract, You don't
Speaker 2: need to be on the contracts.
Speaker 5: You don't need to be part of anything they're doing.
Speaker 4: You just want to literally be told something, Yeah.
Speaker 5: What is even this? What's anything?
Speaker 3: You know?
Speaker 2: And it's hard, right because when business goes well, it
Speaker 2: goes really well. And when business doesn't go well, it
Speaker 2: gets real salty, real quickly. And that's where you need
Speaker 2: a fallback plan. So before I start yapping about business stuff,
Speaker 2: just what would you do?
Speaker 3: So there's two elements. I think. Firstly, my thing with
Speaker 3: money is if you ever intend on having something be enforceable,
Speaker 3: like if you're putting money into something or lending money
Speaker 3: to someone and you need that to be enforceable to
Speaker 3: make sure you can get it back, and agreement should
Speaker 3: be in place, whether that's a friend, whether that's a business,
Speaker 3: whether that's some type of loan for something else, Like
Speaker 3: if you are going, I'm putting money in and I
Speaker 3: need a guarantee on that in some way, you need
Speaker 3: to have a contract in place. For a business to
Speaker 3: run officially, there has to be some kind of like
Speaker 3: you would need an ABN, you would need to be
Speaker 3: potentially registered for GST, like has to be some kind
Speaker 3: of formal documentation. So either your partner's being screwed and
Speaker 3: he's not being included on any of that, or he
Speaker 3: is and he's not sharing that with you, And either way,
Speaker 3: I view that as a problem. The other thing is
Speaker 3: you are absolutely entitled to know about it, because having
Speaker 3: a business is going to be either an asset or
Speaker 3: a liability when you apply for that loan, depending on
Speaker 3: how that business is performing. That directly impacts your ability
Speaker 3: to qualify for a loan, assuming you're looking to purchase together.
Speaker 3: And therefore absolutely beyond the fact that like, your partner
Speaker 3: should just be sharing stuff like that with you, if
Speaker 3: you share finances, or if they value your opinion in
Speaker 3: any way, like in my brain, there's no reason for
Speaker 3: them not to share that. The whole thing is kind
Speaker 3: of giving me sketchy vibes. And I don't know if
Speaker 3: it's because your partner's being sketchy or he's being sketched
Speaker 3: out by somebody else, but either way, something sketchy is happening.
Speaker 7: You know what I mean?
Speaker 2: Yeah, one hundred and I guess this comment is coming
Speaker 2: from me being a business owner. I own two technically
Speaker 2: three businesses, and all of them generating come and all
Speaker 2: of them sometimes require some big investments in one way,
Speaker 2: shape or another. And when that happens, obviously I sit
Speaker 2: down with my team and we chat about what we
Speaker 2: need or how that works, and like we brainstorm it.
Speaker 2: But one thing I do before I make that investment
Speaker 2: is I talk to my husband. Why Because I feel
Speaker 2: like I just want to make sure that he knows
Speaker 2: I'm making a big money move and that he's aware
Speaker 2: of it. Not because I need permission from my husband
Speaker 2: to do business, but like he's my partner in life,
Speaker 2: Like I am paying parts of the mortgage, he's paying
Speaker 2: parts of the mortgage, and I'm making a decision that
Speaker 2: could impact my ability to generat income and I want
Speaker 2: to talk that through. And so many times he's like,
Speaker 2: why are you telling me this? Or what's going on? Oh? Okay,
Speaker 2: so you're gonna, you know, hire another person or whatever.
Speaker 2: I'm often asking him these things not for permission, but
Speaker 2: more validation I'm on the right path, and I feel
Speaker 2: like that's a healthy way to go about things, because
Speaker 2: like if I'm going to go, oh, I'm going to
Speaker 2: hire another person, I'm telling my husband that my business
Speaker 2: is taking on you know, another seventy thousand dollars income
Speaker 2: plus you know, insurances plus tax plus whatever else, Like
Speaker 2: that's a big liability and I want to make sure
Speaker 2: that I've got you know, someone's like, oh no, You're like,
Speaker 2: I've got no qualms about you making like it just
Speaker 2: makes me feel.
Speaker 3: Good and I really could go wrong and like that.
Speaker 3: I like, if you choose that example, you could hire
Speaker 3: someone and that could tip you out, like if the
Speaker 3: company wasn't super profitable, it could tip you over into
Speaker 3: the negatives, and that then impacts your cash flow, which
Speaker 3: impacts your ability to pay the mortgage, which impacts Kim exactly.
Speaker 2: And I think that that's where I kind of go,
Speaker 2: oh okay, like I thought everyone did this, But again
Speaker 2: you might be like butt out. I mean, it's funny.
Speaker 2: I was actually talking to Britney Saunders the other day.
Speaker 2: We recorded an episode together, and she and her partner
Speaker 2: AJ work together and they are like a powerhouse together,
Speaker 2: Like they are so good. If I brought my husband
Speaker 2: into my business, I would quit five seconds later. I
Speaker 2: could not work with my husband. So, like, everyone works
Speaker 2: very differently, But I do think that open communication about
Speaker 2: money decisions, especially if you're a business, like a small
Speaker 2: business owner, specifically, because you know the decisions I make
Speaker 2: inside my business are so impactful on my everyday life.
Speaker 2: Like it's not like the business money is my money,
Speaker 2: but like if I make bad decisions, I can't pull
Speaker 2: out money because you guys sure as hell are getting
Speaker 2: paid before I am, and so that makes me a
Speaker 2: little bit icky. The other thing you touched on already,
Speaker 2: Jess is sorry, is there not like an ABN registered? Yeah, Like,
Speaker 2: so to start a business in Australia you need to
Speaker 2: register in ABN. To register in ABN, you're obviously going
Speaker 2: to have to pick a business structure. It's clearly not
Speaker 2: going to be a sole trader because there's not a
Speaker 2: sole trader. There's two of you. So you would pick
Speaker 2: a partnership or you'd pick a business entity. So you've
Speaker 2: probably gone through that you could do it yourself, or
Speaker 2: you could have seen an account and they would have
Speaker 2: set it up for you. But where is this documentation
Speaker 2: at a bare minimum? Because when you set up a
Speaker 2: business and there's more than one person, even when there's
Speaker 2: one person involved, you have to identify how many shares
Speaker 2: you're going to issue. So like some business and you
Speaker 2: can pick whatever you want. By the way, this is
Speaker 2: just like a real quick business like crash course. But
Speaker 2: if you go and register a business in Australia, the
Speaker 2: government will say how many shares do you want in
Speaker 2: this business? And like my default is often one hundred
Speaker 2: and twenty. Why because that's what my accountant said, Because
Speaker 2: you're going to split them up. So like, if there's
Speaker 2: two people, we get sixty shares each, and it means
Speaker 2: that if a third person gets involved, we can like
Speaker 2: shuffle shares around.
Speaker 3: It's a very invisible number.
Speaker 2: Yeah yeah, yeah, And like it doesn't change how much
Speaker 2: it costs to set that up. But that's always just
Speaker 2: been my base of my businesses, right, But if you
Speaker 2: just went in you wanted one share in the business,
Speaker 2: and great norries, But you might be creating a problem
Speaker 2: for yourself in the future if a business partner like
Speaker 2: wants to buy in, Because like if I wanted a
Speaker 2: business partner to buy in, I might go, oh, well,
Speaker 2: I'll give just five shares, but I keep you know,
Speaker 2: the one hundred and fifteen. Does that make sense? So
Speaker 2: like you can split it lots of different ways. But
Speaker 2: usually if you went into business with one other person,
Speaker 2: you might have issued two shares or you might have
Speaker 2: issued one hundred and twenty shares and like have sixty each,
Speaker 2: Like where's that documentation?
Speaker 3: Yeah?
Speaker 2: Because that's a bare minimum, Like that's not even like
Speaker 2: a shareholders agreement, which I don't think should be a choice,
Speaker 2: but is a choice that's like just registering it. Where's that?
Speaker 3: Yeah?
Speaker 2: Like that should be a thing. Like can you search
Speaker 2: the ABN? Like, and I know that your partner said
Speaker 2: it's not your business, but or does this business have
Speaker 2: a website? Can you go to that website and see
Speaker 2: what the ABN is and look that ABN up?
Speaker 3: Yeah?
Speaker 2: Like I know that that feels a bit pervy, but
Speaker 2: if you're genuinely worried, I'd be like, sorry, are you
Speaker 2: saying that you in because like to me being very
Speaker 2: cynical right now, are you saying that your partner got
Speaker 2: involved with the business and tipped half of his savings
Speaker 2: in and somebody else is in control who owns one
Speaker 2: hundred percent of the shares, but he just gets some
Speaker 2: dodgy paperwork occasionally on maybe how the business is doing.
Speaker 3: Yeah, because I was going to say that, like if
Speaker 3: it was registered, for example, as a soul trader, like
Speaker 3: if his friend had set it up as a soult
Speaker 3: trading companies and the hey, mate, get on board, and
Speaker 3: your partner's gone, yeah great, I'll give you the money.
Speaker 3: Let's do this thing.
Speaker 2: Yeah great, we've put in the same amount. Like you
Speaker 2: might not know how that works. Yeah, but you haven't
Speaker 2: documented anything. You haven't done you know, you haven't restructured
Speaker 2: the business to be not a sole trader. You haven't
Speaker 2: restructured the shareholders agreement or any of that sort of stuff. Then,
Speaker 2: like on paper, it could be quite easy for him
Speaker 2: to be screwed over. And I mean I know that
Speaker 2: there's lots of logistics in documenting and yeah simple, but
Speaker 2: like that's a significant risk, I would think. I agree.
Speaker 2: I agree. So we did ask the community. Obviously, we
Speaker 2: said should your partner's business investments be your business too?
Speaker 2: Seventy six percent of you said yep, we're partners, but
Speaker 2: twenty four percent of you said no. So very much
Speaker 2: shocked by that.
Speaker 4: Yeah, maybe it's like early days, maybe they're like, oh
Speaker 4: my partner.
Speaker 2: Yeah, maybe it's but like, let's use me as an example.
Speaker 2: I have a mortgage with my husband, I have a
Speaker 2: child with my husband. Well, so married, don't feel like
Speaker 2: that to the famous being de facto these days, but like, yeah,
Speaker 2: does that change the dynamic, because to me it does, Yeah, definitely,
Speaker 2: Like I've got responsibilities.
Speaker 4: If your financial decisions actually will directly or indirectly affect
Speaker 4: him exactly exactly.
Speaker 2: We also asked, wouldn't worry you if your partner was
Speaker 2: invested in a business like this?
Speaker 3: Surely everyone said yes.
Speaker 2: Four percent of you said yes, it feels risky and unstructured.
Speaker 2: Six percent of you said nah, I trust them in
Speaker 2: the process.
Speaker 3: Okay, you're more optimistic than I am. It means to
Speaker 3: me being like.
Speaker 2: Cool, So was it set up this way? Like yeah,
Speaker 2: all right, so obviously I feel like we're kind of
Speaker 2: on the same page with the community. We then said,
Speaker 2: what's your two cents? First response, get a good accountant
Speaker 2: if you were just really true, because your accountant can
Speaker 2: one set that structure up if that was confusing when
Speaker 2: I was talking about how many shares like issued and stuff. Also,
Speaker 2: it's really important to talk about that because, like you know,
Speaker 2: I own all of my businesses one hundred percent, but
Speaker 2: I haven't always so my mortgage broking business, I had
Speaker 2: a business partner for a while, but it didn't work out.
Speaker 2: But the reason it worked out, I suppose in my
Speaker 2: favor was because I'd set it up properly from the beginning. Yeah,
Speaker 2: and I also had a shareholder's agreement, which you'll need
Speaker 2: a lawyer for. But your accountant a quote good accountant
Speaker 2: will have a good lawyer that sets up shareholders agreements,
Speaker 2: so you can go through that and structure yourself properly
Speaker 2: so that you aren't screwed over.
Speaker 3: Yeah.
Speaker 2: The next person said, going through a divorce, now I
Speaker 2: can say with confidence that you need to know.
Speaker 3: Completely because that then de facto or married, that then
Speaker 3: impacts potentially the division of assets.
Speaker 2: Wild. Somebody else said people need to be able to
Speaker 2: talk about money without getting touchy. You need more open conversation.
Speaker 2: We got another person say, I'm a corporate lawyer, and
Speaker 2: I strongly and she put four exclamation points in brackets
Speaker 2: strong really strongly suggest they document their arrangement. True. And
Speaker 2: that might mean that full starters, you're just putting it
Speaker 2: in an email, yeah, Like, and that could be like,
Speaker 2: let's pretend you've then had this conversation with your partner, yeah,
Speaker 2: and your partner's been like, oh, maybe it's not You
Speaker 2: could start with an email to your business partner being like, hey,
Speaker 2: you just thought i'd pop this in an email. I
Speaker 2: just want to document this. Do you want me to
Speaker 2: take the next steps to registering the business officially, just
Speaker 2: so that you're starting to create your own pay per trayals,
Speaker 2: so that if anything falls back on you can be like, no, no, no,
Speaker 2: Remember this email I sent you where I said this
Speaker 2: is what we had and you agreed. Yeah, so you've
Speaker 2: got to be a little bit smart about it. Somebody
Speaker 2: else said he might be being defensive because he knows
Speaker 2: he's messed up. Oh that's true.
Speaker 3: Oh yeah, but also, don't take it out on the people.
Speaker 4: It's kind of I know they're so mean.
Speaker 2: Yeah, no, no. But also sometimes if I make a mistake,
Speaker 2: I get a bit defensive, and then I have to
Speaker 2: check myself and be like, oh, sorry about that, Sorry,
Speaker 2: sorry about that. Someone else said, I think it's only
Speaker 2: her business. If they are getting married and joining finances.
Speaker 3: Well, I think they're buying a house together. Sounds like
Speaker 3: they have shared financial goals.
Speaker 2: I don't think.
Speaker 3: I don't think marriage for me is the bar not
Speaker 3: necessarily gets married exactly, We're never going to get.
Speaker 2: Married, so marriage is expensive. These days. I feel like
Speaker 2: so many of my friends are choosing do I get
Speaker 2: married or do I buy my first house? Yeah, Like
Speaker 2: there's no Oh, we're going to get married and then
Speaker 2: we're going to buy a house. It's all kind of
Speaker 2: like you're choosing the big financial commitment. Yeah. So I
Speaker 2: feel like and also legally living with someone de facto
Speaker 2: gives you the same, right.
Speaker 4: True, he's be like, I promise I'm cleaning to you.
Speaker 4: I swear to God.
Speaker 2: I feel like I would prefer to try and get
Speaker 2: out of a marriage than a mortgage.
Speaker 5: Yeah.
Speaker 2: Oh yeah, I don't know. I don't know, I know anyway.
Speaker 5: Someone else said, it's scary.
Speaker 2: It doesn't make sense why he wouldn't share the details
Speaker 2: on how the business is doing. Shouldn't he be proud?
Speaker 3: Yeah, and if it's not doing well, like that's what
Speaker 3: your partner's for, Like you share good and bad, like
Speaker 3: you help each other through it.
Speaker 2: Someone else said, hello, lawyer talking gal and then all
Speaker 2: in capitals with collaps around it, contracts are there to
Speaker 2: protect you. Amen that. Someone else said it's completely fine
Speaker 2: and normal to have separate investments. So those I guess
Speaker 2: that's a good summary of all the comments that were received.
Speaker 2: But I think it is a bit of a red
Speaker 2: flag that he doesn't want to talk about it. But
Speaker 2: also maybe he's just like stop butting your nose in,
Speaker 2: Like I don't know. Maybe he just doesn't want input,
Speaker 2: which is totally okay, but like, hey, I don't want
Speaker 2: to give you feedback on it, Like can you just
Speaker 2: make me feel like this isn't scary?
Speaker 4: Yeah, communicate It'd be like, oh, I would rather not
Speaker 4: give your advice in case aertain something in my mind,
Speaker 4: but I will give you the information, but anything, it's
Speaker 4: all you, all your parton needs to say if that's
Speaker 4: the reason, what like why he's not saying yeah?
Speaker 2: And then there's me on the flip side. I'm like,
Speaker 2: so this is what I'm planning on doing, Steve, And
Speaker 2: then he goes, yeah, okay, but what do you think?
Speaker 2: And he goes I said, okay, but what do you think?
Speaker 2: What's your advice? And he's like, you told me you
Speaker 2: don't want my advice, that's correct. What do you think?
Speaker 2: I am the worst? I'm the worst? All right, guys.
Speaker 2: I feel like that was really fun. I feel like
Speaker 2: that that was a good one, and the previous one
Speaker 2: about the landlord was really spicy. I feel like we've
Speaker 2: had a good week of content and someone slipped into
Speaker 2: their five star review a question. I feel like that
Speaker 2: just adds to the richness smart leave a five star
Speaker 2: review with a question and it'll get answered on the show,
Speaker 2: which is very exciting. But guys, I think that is
Speaker 2: all we have time for today. But before we go,
Speaker 2: do you know what happened recently?
Speaker 3: Could it be on theme in the business space?
Speaker 2: Oh my gosh, it's almost like my fifth book, The
Speaker 2: Business Bible, came out, which is really really fun. I
Speaker 2: know that that obviously, you guys might be getting sick
Speaker 2: of my books at this point, but I'm not. So
Speaker 2: could you please just let me have this moment to
Speaker 2: promote the fact that my business book, which is arguably
Speaker 2: one that I am most proud of because it's just
Speaker 2: got so many juicy business stories and like helps you
Speaker 2: in I guess these situations where you know, should I
Speaker 2: have a contract? Absolutely, you should have a contract. I
Speaker 2: talk about it in my book. I have business diaries
Speaker 2: in my book. Anyway, I think that would be a
Speaker 2: really good Christmas present if anyone's looking for, you know,
Speaker 2: a Christmas present for a small business gal or guy
Speaker 2: this Christmas season. I'll put all the information in the
Speaker 2: show notes, but that's it for me. I just wanted
Speaker 2: to shamelessly plug my own content.
Speaker 3: Absolutely, you should available at all good bookstores and also online.
Speaker 3: And it's probably on sale right now as well.
Speaker 2: It is. You can always find it on sale. And honestly,
Speaker 2: would you be if She's on the Money girl, if
Speaker 2: you weren't buying my stuff on sale?
Speaker 3: We are here for it.
Speaker 2: We so many people are like, oh, I didn't want
Speaker 2: to buy it on sale. I might, thank you. That's
Speaker 2: very kind. Please buy it on sale, yes, like I
Speaker 2: love that. Anyway, have a good week, guys. We will
Speaker 2: see you bright early on Monday for a money Darry.
Speaker 3: Bye, guys Bye.
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