Speaker 1: Hello.
Speaker 2: My name is Sanatasha Nabananga Bamblet. I'm a proud yor
Speaker 2: the Order Kerni Whoaltbury and a waddery woman. And before
Speaker 2: we get started on She's on the Money podcast, I
Speaker 2: would like to acknowledge the traditional custodians of the land
Speaker 2: of which this podcast is recorded on a wondery country,
Speaker 2: acknowledging the elders, the ancestors and the next generation coming
Speaker 2: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 2: and the storytelling of you to make a difference for
Speaker 2: today and lasting impact for tomorrow.
Speaker 1: Let's get into it. She's on the Money. She's on
Speaker 1: the Money.
Speaker 3: Hello and welcome to She's on the Money podcast that
Speaker 3: makes personal finance fun, especially mainly on Fridays.
Speaker 1: Welcome back.
Speaker 3: It is our favorite day of the week because we
Speaker 3: get to get our team together and celebrate you ow incredible.
Speaker 3: She's on the Money community, mister Griccy. She's here with
Speaker 3: our favorite money wins of the week. Beck has gotten ready.
Speaker 3: She's got three broke tips for us, and we're going
Speaker 3: to be helping to answer a money dilemma, which this
Speaker 3: week is all about what do you do when chasing money?
Speaker 3: Starts affecting your health and something that you slid into
Speaker 3: our DMS about what do you do when pouring your
Speaker 3: savings into a house when your name isn't even on
Speaker 3: the mortgage all but before we get them is just
Speaker 3: a greachy. Miss Beck's sayed, how have your weeks been?
Speaker 4: Nothing very exciting this week, just plodding along, live life,
Speaker 4: loving any.
Speaker 3: And crafts, any side projects. I feel like you've always
Speaker 3: got something on the go, Jessica. Yeah, I'm trying to.
Speaker 4: I don't think I do at the.
Speaker 1: Moment about the sewing machine. Where's the sewing machine gun?
Speaker 4: I did think about this very resales. Oh I've done
Speaker 4: that thing where I like got the hobby and then didn't.
Speaker 4: But I want to say myself a new tote bag
Speaker 4: for ballet. So that's I've cut the pieces.
Speaker 3: I just need to sew the piece. Okay, we're halfway
Speaker 3: through a project. But I also think of sewing machine
Speaker 3: and that skill. Yes, it might have been a hobby.
Speaker 3: Having it means like you can whip it out, you
Speaker 3: can hem some pants.
Speaker 1: Totally.
Speaker 3: Yeah, I feel like it's a good investment. It's not
Speaker 3: like my polymer clay addiction, where I went and bought
Speaker 3: every single color of polymer clay and started making these
Speaker 3: teeny tiny little jelly cat like creations. And that's been good,
Speaker 3: but like, I haven't done that in a long Yeah.
Speaker 1: So yes, that's a bit different to a sewing machine,
Speaker 1: but they were. It was fun. That lasted. Look, it
Speaker 1: was fun. Well that lasted, and I'm sure I'll go
Speaker 1: back there at some point. I just like it.
Speaker 3: I can like literally copy things. Yeah anyway, don't come
Speaker 3: for me and seeming jelly cat like I can't afford
Speaker 3: your soft toys anymore.
Speaker 1: Yeah, like what the hell? Why are they so expensive?
Speaker 1: But they're so cute.
Speaker 4: C there's a little fuzzy peach one that I want
Speaker 4: to get for my because I'm like, it's so unbrain
Speaker 4: I tried to.
Speaker 3: Buy that for me the other day and it sold out.
Speaker 3: The twenty twenty five fuzzy Peach one adorable. I saw
Speaker 3: it in the shop meet Meek in Chadstone, and I
Speaker 3: remember being like, oh my god, that is so jess.
Speaker 3: I should get that, and then like didn't think about it,
Speaker 3: and then I was like, nah, I am going to
Speaker 3: go back and get.
Speaker 1: That, and it was like were like, oh no, we
Speaker 1: sold out of that.
Speaker 3: So I was like, this is my life mission. I
Speaker 3: will turn up with a fuzzy peach for you sometimes
Speaker 3: I will. I will have it, I promise. Is everyone
Speaker 3: waiting for the mozzarella ball to come out? Oh my god,
Speaker 3: the past but not the past one. It's got like
Speaker 3: a little bray. I think it's made it happen.
Speaker 1: To stop it.
Speaker 5: It's a little berat Morella.
Speaker 6: I can't really remember what it looks like now, but
Speaker 6: but that's been waiting for a year, you know what
Speaker 6: I was thinking about.
Speaker 4: Jelly Cats are the modernday beanie kid. Because I was.
Speaker 1: A beaty kid kid. I had bed hundreds of them.
Speaker 3: Beck, you didn't come to the Sheese on the Money
Speaker 3: Christmas party. But I don't know if we told you that.
Speaker 3: We did a past the parcel because like She's on
Speaker 3: the Money Christmas party, Like we don't just want to
Speaker 3: sit there informally talk about our work performance, like we
Speaker 3: had fun.
Speaker 1: We did pass the parcel, but in every.
Speaker 3: Layer of the past the parcel was a jelly cat
Speaker 3: ring and then in the middle there was a big
Speaker 3: Christmas themed jelly cat. Yeah.
Speaker 4: It was so my god, maybe it was you were right.
Speaker 4: Sometimes I ended up with two, so maybe you should
Speaker 4: have the other one. I think, yeah, you had a
Speaker 4: Christian on my bag. And then I have the Turtle,
Speaker 4: which I actually think is very on brand. His name's
Speaker 4: Timmy Turtle. He's got my face you next week, I
Speaker 4: reckon you love me?
Speaker 1: You could sell that's sod.
Speaker 5: That is so cute.
Speaker 1: You're so cute.
Speaker 5: Thank you so much.
Speaker 1: But we never passed the parcel and it was a
Speaker 1: lot of fun. It's the best thing ever.
Speaker 3: It was actually very funny, though I'm sorrying our producer
Speaker 3: Emma under the bus because I don't think Emma understood
Speaker 3: how cool jelly Cats were or that there was like
Speaker 3: a cold following and she got the big one in
Speaker 3: the middle and everyone was like, I listed an addition
Speaker 3: like Christmas tree, and then Emma's.
Speaker 6: Like, cool, no, it's wasted story above her.
Speaker 3: She's in the room with us, so we're not like
Speaker 3: throwing shade while she's not watching.
Speaker 1: But would you guys like a five star review? Yes please?
Speaker 3: I am ready this person's username She's on the Money fangirl, Oh.
Speaker 1: Life changing podcast.
Speaker 3: I started listening to She's on the Money during COVID
Speaker 3: and Binge listened to all the episodes I had missed
Speaker 3: and Vic and team you have truly changed my life.
Speaker 3: Thanks to Vic's advice on one of the earlier podcasts,
Speaker 3: my husband and I made the decision to take out
Speaker 3: additional insurance AKA I forced him one day because he
Speaker 3: was a typical treaty that thought he was invincible, hoping
Speaker 3: we'd never have to use it. Sadly, my husband was
Speaker 3: badly injured at work, but one of the few silver
Speaker 3: linings in such a tough time was that his TPD
Speaker 3: insurance was paid out.
Speaker 5: Oh wow.
Speaker 3: Because of that, we are now a young family who
Speaker 3: is completely mortgage free. My husband is still recovering, but
Speaker 3: this has helped ease our stress immensely, meaning we can
Speaker 3: focus on him.
Speaker 1: Rather than having the added.
Speaker 3: Stress of can we afford to pay our mortgage over
Speaker 3: this expensive time in our lives.
Speaker 1: Wow, I'm really sorry.
Speaker 3: That is so trashy, and like, I love that you
Speaker 3: shared that, because insurance to me is so important. Like
Speaker 3: when I was working as a financial advisor, you see
Speaker 3: the worst of the worst, Like it's everyone who says
Speaker 3: this will never happen to me, and like invincible tradees
Speaker 3: all say.
Speaker 1: Yah, help me right, it will never happen to me.
Speaker 3: But then something does happen, So get your insurances in
Speaker 3: order that as much as I want none of this
Speaker 3: to happen to any of you, when you write in
Speaker 3: and say we listen to your podcast and we were
Speaker 3: covered for that girl, your mortgage free, like the stress
Speaker 3: that would have lifted. Oh, I love that for you
Speaker 3: at the same time as hating that you had to
Speaker 3: go through through that.
Speaker 1: Sending lots of love to you. But thank you for
Speaker 1: that review. That was so kind. Yeah, thank you so much.
Speaker 3: If any of you want to get your insurances sorted,
Speaker 3: I'm going to put a link in the show notes
Speaker 3: to Sky Wealth because they are going to get it
Speaker 3: sorted for you in a very cost effective way. Anyway,
Speaker 3: moving on, my friends is just grichy. Can we have
Speaker 3: the money wins of the week? Absolutely you can.
Speaker 4: Firstly, this week I've got a money win from Maddie,
Speaker 4: who said she asked her private Health if they could
Speaker 4: offer her any deals as Booper were currently running a
Speaker 4: six weeks free someone mentioned this in the group. She
Speaker 4: saw it, so she hit up her health insurance. They
Speaker 4: gave her twelve weeks of health insurance for free. She
Speaker 4: said it saved so isn't that crazy? So again reminder
Speaker 4: ask you know mentioned maybe that Booper are running that
Speaker 4: promotions weekend?
Speaker 1: Yeah, because that is wild.
Speaker 4: Yeah. Next, I put the money win from Jess, excellent name.
Speaker 4: She said she went to wash her car on half
Speaker 4: priced day to try and save some money.
Speaker 3: I didn't know that existed, but like cool, very is
Speaker 3: very expensive.
Speaker 4: But Jess drove into the bay and the time I
Speaker 4: still had thirty minutes on it. So she washed her
Speaker 4: car for free.
Speaker 3: Oh God, my brain and somebody who lives on the peninsula.
Speaker 3: When she said I drove into the bay, I'm like,
Speaker 3: would you do that?
Speaker 1: You drive into the ocean?
Speaker 4: Yeah, that'll clean it. I have a very good example
Speaker 4: of that. For our next one, I've got a money
Speaker 4: in from Wander he said, definitely a money win. I
Speaker 4: was in a coma over my spending and transferring too
Speaker 4: much out of my emergency fund into ETFs. I've been
Speaker 4: more mindful this month after exporting my transactions into a
Speaker 4: spreadsheet and have managed to have my spending mostly just
Speaker 4: by being mindful on spending food and now I can
Speaker 4: focus on rebuilding my emergency account. But Samantha commented under
Speaker 4: that and said, I didn't read the whole post and
Speaker 4: just read coma and thought, yeah, that's a good way
Speaker 4: to save money. Made was she actually no, so she
Speaker 4: is just a turn of phrase. Like I was in
Speaker 4: a promar I was sick over my spending something.
Speaker 1: I see. I was like, oh my god, that's hilarious. Well,
Speaker 1: I guess he very me coded, like just skim reading
Speaker 1: something and being like.
Speaker 4: Whoa, next, I've got money. Went from Cassandra, who said
Speaker 4: she got petrol for a dollar fifty two per litera
Speaker 4: which included four cents off the majority of plays at
Speaker 4: the time in the area where a dollar seventy five
Speaker 4: at least. It makes me cringe though, because I now
Speaker 4: I'm like, wow, do you like to do that?
Speaker 1: So good? I remember when I wouldn't pay over a
Speaker 1: dollar twenty so expensive? I remember, so.
Speaker 3: I remember back in university, I used to have this
Speaker 3: very old and very loved Toyota Avalon, so very similar
Speaker 3: to a Camri but like the Grandpa version, and it
Speaker 3: had been converted to LPG, and I remember it was
Speaker 3: like forty five cents a litera to fifty cents a liter.
Speaker 3: And I remember being like fifty cents a liter that's
Speaker 3: cooked that's so expensive, girl, what what? Why did you
Speaker 3: ever get rid of that car? Like that car was
Speaker 3: the best thing since slice bread. So many questions about
Speaker 3: the car, but I know we probably yeah, we'll talk
Speaker 3: about it later.
Speaker 4: I think the next I've got money in from Kate
Speaker 4: who said her old Macpack backpack got repaired free of
Speaker 4: charge because the zipper pocket stitching had started coming undone.
Speaker 4: Do you know what's a sligh you being able to
Speaker 4: get that out of your mouth?
Speaker 1: And that the Macpack?
Speaker 4: But she said, thanks Mackpack having a great policy save
Speaker 4: this from landfill.
Speaker 1: I love that.
Speaker 4: But idea to I know that Patagonia have a really
Speaker 4: good repairs policy. I think Lula Lemon as well, So
Speaker 4: like maybe when you're shopping for things checking what places offer,
Speaker 4: you know, maybe you pay a little bit more upfront,
Speaker 4: but if they have a really good, you know, quality policy,
Speaker 4: it's hard money.
Speaker 1: Leggings replaced from Lulu Lemon.
Speaker 3: I've also had them taken up for free from Lululemon
Speaker 3: because sure, girl problems like you can buy any length
Speaker 3: of them and they will shorten them to what you need.
Speaker 3: And I have also had like stitching on one replaced
Speaker 3: for free for free.
Speaker 6: Amazing, and Lulu Lemon is eighteen percent cash back on
Speaker 6: trip back. Oh it was, I don't if it's still amazing. Lastly,
Speaker 6: this week, I've had a moneyment from Eve who said
Speaker 6: she's been completing the my Medibank Live Better challenges religiously
Speaker 6: over the last few months. Every day she's got herself
Speaker 6: a pair of AirPods coming that she didn't have to
Speaker 6: pay a cent for money good for me, and a
Speaker 6: nice treat when points add up. So if you're a
Speaker 6: Madibank customer, might be worth looking into that program. I
Speaker 6: think it's similar to the Quantus Wellbeing program.
Speaker 3: It's very cool and you're already doing the activities anyway,
Speaker 3: and it's a good motivation too. You love it, Queen,
Speaker 3: Miss Jessica, and she miss beck Si Yet I want
Speaker 3: your three broke tips. I want him hard, I want
Speaker 3: them fast. I want to know what, yes, ma'am.
Speaker 1: Okay.
Speaker 6: So this first one comes to my friend who is
Speaker 6: I didn't realize, but a lot tighter than I thought.
Speaker 1: I mean, but I like this.
Speaker 5: Yeah, she's a budget queen. I didn't realize it's.
Speaker 3: Actually secretly frugal, secretly frugal, Yeah exactly, But she did
Speaker 3: run through so many things that I probably can't share.
Speaker 6: On the podcast, but that's okay, But the ones that
Speaker 6: I could. She said that some vegetables and fruits, fruits
Speaker 6: and vegetables it's.
Speaker 5: Weird saying the other way around, it's not right.
Speaker 1: And fruits fruits.
Speaker 6: She said that some of these don't have to like
Speaker 6: it's more expensive to buy organic, but you don't need to,
Speaker 6: is what she's saying. So things that like, you know,
Speaker 6: thicker skins, like for example, banana, avocados, mushrooms are some examples.
Speaker 6: I don't really understand the mushroom thing because there's.
Speaker 3: No skin, and also there's like a lot of mushroom
Speaker 3: drama going on right now.
Speaker 5: There is a lot of mush and druma.
Speaker 6: My friend is actually right now she's doing the doco
Speaker 6: on that.
Speaker 1: That's very good. No, no, don't say anymore. Don't say anymore,
Speaker 1: very exciting.
Speaker 6: So that's a good tip though, Yeah, good tips. So
Speaker 6: some things don't need to be organic, so just have
Speaker 6: a little Google before you go. If you are buying
Speaker 6: things organic, just double check that it's worth.
Speaker 5: It to just buy the regular.
Speaker 7: And my other tipcums I add to your fridge vegetable
Speaker 7: broke tip absolutely so, like I am now a parent
Speaker 7: that has to financially recover from buying so many damn berries.
Speaker 3: My son loves to eat berries, and I buy a
Speaker 3: lot of them. Yes, we go through them relatively quickly.
Speaker 3: But I learned to tip on TikTok that if you
Speaker 3: fill a bowl with water and add a good splash
Speaker 3: of vinegar and then your berries in and rinse them in,
Speaker 3: that your berries will.
Speaker 1: Last three times longer.
Speaker 3: And I tested it and it worked like I ran
Speaker 3: a full controls thing in my fridge. Yea, I like,
Speaker 3: did one punnet of raspberries that I didn't wash and
Speaker 3: one punnet that I did, And yeah, the one that
Speaker 3: I did lasted so much longer, and the one that
Speaker 3: didn't like had mold on it by the end of
Speaker 3: the week. So wash your vegetables and fruits in vinegar
Speaker 3: to make them last longer.
Speaker 7: Wow.
Speaker 1: I think that's a.
Speaker 3: Good one, right, That is a really good one, especially
Speaker 3: like berries and stuff, because vinegar is safe to consume.
Speaker 1: But vinegar also killed mold.
Speaker 3: That's why you should wash your shower and stuff with vinegar,
Speaker 3: not with bleach, because bleach doesn't kill mold. Spores vinegar does,
Speaker 3: so the science science.
Speaker 1: Is behind it. Yeah, yeah, soft, I don't know why.
Speaker 3: Instead of your fabric Softna, it's we didn't take over
Speaker 3: from your broke tips if you don't continue.
Speaker 5: No, no, I'm really happy with But like, does it
Speaker 5: make your close?
Speaker 1: I use it? God, that is everything.
Speaker 3: Maybe we should do a whole segment what does VD
Speaker 3: use vinegar for?
Speaker 5: And you know what dipping a hot chip.
Speaker 6: In the restaurant remaining Ye're delicious? Okay, So this next
Speaker 6: one comes from my partner's sister. Currently, I'm sure we
Speaker 6: all see these, like whenever you go to uber eats
Speaker 6: or something and it always pops up uber one, Uber one.
Speaker 6: I don't want uber one, okay, I don't want to
Speaker 6: know that I'm using it so often that this will
Speaker 6: be beneficial for me.
Speaker 1: But right now uber one.
Speaker 6: Basically what happened was the other day my partner and
Speaker 6: her went to the movies and they got twelve dollar tickets,
Speaker 6: unlimited popcorn, free refills.
Speaker 1: So it was, what is that about?
Speaker 3: And it's expensive free refield that's exactly right, And so
Speaker 3: I stole a ticket.
Speaker 1: So are we living in two thousand and nine?
Speaker 3: I know?
Speaker 5: And so I was like, how did this happen?
Speaker 6: And she said because she joined uber one and it's
Speaker 6: I'm assuming if I'm a.
Speaker 1: Member of uber one, can I please have access? Yeah,
Speaker 1: it's I think.
Speaker 5: It's it's running ntil September, so.
Speaker 1: Right, I get so I can access it? Yeah, you
Speaker 1: can access it.
Speaker 3: Money When is that? So you're saying you're enabling my
Speaker 3: uber eats habit. Yeah, thank you, that's very kind. Money
Speaker 3: tip my broad tips. Sorry Jess comes with money tips,
Speaker 3: you come with broake tips.
Speaker 5: I do am I one this week.
Speaker 6: I'm so sorry it is only for the Melbourne people,
Speaker 6: but I'm sure there is an equivalent elsewhere. As I
Speaker 6: always say, so, A restaurant has opened up in Brunswick East,
Speaker 6: brand new restaurant.
Speaker 1: It's a wine bar.
Speaker 6: Sorry I should say it's called Times New Roman Bar.
Speaker 4: I love that name.
Speaker 1: I know isn't cute.
Speaker 6: And they're doing very very cheap eat. So for example,
Speaker 6: these people got their bread which was three dollars Barada
Speaker 6: and pickles six dollars Barada. I've never seen Barada under
Speaker 6: seven hundred dollars, so.
Speaker 1: Barada seen in under one thousand dollars, so that makes sense.
Speaker 1: And then they're like tiny.
Speaker 6: Totally and a half port of passes six dollars was
Speaker 6: like a really lovely part of it happens to the Roman.
Speaker 1: Is such a good name. Yeah, I'm still stuck on that.
Speaker 3: Is there a bark or comic sands or is that
Speaker 3: not cool? I think that that could be Windings, Windings.
Speaker 6: I'm sure there's Windings. No one speaks any language in Winding.
Speaker 6: They just took like simmish. Yes, So that is my
Speaker 6: break tap this week is that if you live in Melbourne,
Speaker 6: if you can access it, try and hit up times
Speaker 6: in your Roman bar and get very cool food.
Speaker 1: I love it. Let's go on a date there.
Speaker 3: Yeah, all right, let's go to a really quick break
Speaker 3: because on the flip side, we're going to be talking
Speaker 3: about what do you do when chasing money is starting
Speaker 3: to impact your health and something that you slid into
Speaker 3: our dams? But what do you do when you're pouring
Speaker 3: your savings into a house and you're.
Speaker 1: Not even on the mortgage. So guys, don't go anywhere.
Speaker 1: Welcome back, everybody.
Speaker 5: Let's take a listen to this week's money dilemma.
Speaker 1: Hi, there, have you got a money dilemma? You just
Speaker 1: can't solve that? She's on the Money team is here
Speaker 1: 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 8: Hey, She's on the Money. I am currently twenty one
Speaker 8: years old and I'm a disability support worker. I have
Speaker 8: recently started a new job and at the time I said, yes,
Speaker 8: give me whatever hours you can. I'm happy to work,
Speaker 8: you know, big hours. Anyway, fast forward are doing fifty
Speaker 8: to sixty hour weeks, sometimes seventy and starting to take
Speaker 8: a toll on my health. I've started throwing up of
Speaker 8: a morning every day, feeling nauseous all the time, and
Speaker 8: I don't know what to do because the money is
Speaker 8: so great, but it's starting to take a toll of
Speaker 8: my health.
Speaker 3: Please help, oh girl, girl, we need to do something
Speaker 3: about that, because that is no way to live.
Speaker 2: Like.
Speaker 3: Don't get me wrong, people are going to be listening
Speaker 3: to this and go, well, I work fifty or sixty
Speaker 3: hour weeks and that doesn't happen to me. Sit down,
Speaker 3: your privilege is showing because when you are a disability
Speaker 3: support worker that is so physically and mentally taxing that
Speaker 3: it makes sense you are not physically well, but like
Speaker 3: care about yourself because if you are not putting yourself
Speaker 3: first in this situation, you're going to burn out real
Speaker 3: quick and then you won't be able to earn money
Speaker 3: for ages. Like I know that you're like, oh, I
Speaker 3: don't want to step back from it, But if you
Speaker 3: don't step back now and actually put yourself first, you
Speaker 3: know what's going to happen. You're gonna burn out and
Speaker 3: then you're gonna have no job because you won't have
Speaker 3: the ability to work.
Speaker 5: Yeah.
Speaker 6: I think that if you literally cannot survive without doing
Speaker 6: that many hours, that's probably a different conversation. You probably
Speaker 6: need to look at either getting like a pay rise
Speaker 6: or a whole a whole new job. But if you
Speaker 6: can survive off less hours, but you just are really
Speaker 6: really happy with the money that you're getting and you
Speaker 6: feel like you're getting ahead, I totally get that feeling.
Speaker 6: But maybe just try and either see if you can
Speaker 6: like condense your days. Maybe you could do like four
Speaker 6: ten hour days. Which is very, very very tiring, or
Speaker 6: try and like work out a way that you can, yeah,
Speaker 6: just kind of condense your days or hours. But I
Speaker 6: can't imagine that any workplace would find an issue with
Speaker 6: you being like, hey, can I not literally work twenty
Speaker 6: four to seven. You will be able to ask for that,
Speaker 6: I would say, And if they don't allow that, you
Speaker 6: got to go somewhere else because it's absolutely not worth it.
Speaker 6: No amount of money is worth it.
Speaker 4: Yeah, there's no point earning all the money if you're
Speaker 4: then so unwell that you can't spend it or enjoy it.
Speaker 4: There's like money is it's counterintuitive, but like it's not
Speaker 4: the most important thing. Like obviously, to a point, we
Speaker 4: need money to be able to exist in this world,
Speaker 4: to put a roof over our heads, et cetera. But
Speaker 4: if you're not able to enjoy the fruits of your labor,
Speaker 4: what's the point exactly? I think the Yeah, like, as
Speaker 4: you were saying, I'm sure that if you spoke to
Speaker 4: whoever's in charge of your scheduling and just said, you know,
Speaker 4: I know that I said I wanted lots of hours,
Speaker 4: and I'm so thankful you gave me lots, But it's
Speaker 4: just taking a toll on me. They're probably just loading
Speaker 4: you up because they're like, well, we've got someone who
Speaker 4: wants to be loaded up, so take all the hours.
Speaker 4: But if you said, hey, like it's having an impact
Speaker 4: on me, I'm unwell, any considerate person would be like,
Speaker 4: no worries, Like we can you know, help.
Speaker 3: A safety issue as well, because you're not well and
Speaker 3: you're taking that unwell body to work, something's going to
Speaker 3: happen to work.
Speaker 1: Yeah, definitely.
Speaker 4: So I think, yeah, it's pretty clear from all three
Speaker 4: of us it seems.
Speaker 1: Really don't do that money. It's not worth it at all.
Speaker 4: You've got to look after yourself. You can't pour for
Speaker 4: an empty car.
Speaker 5: It was just about to say that discorrectly.
Speaker 1: Wow, exactly.
Speaker 3: Also, I know that all of our advice is like,
Speaker 3: you know, step back, it's not worth it, right, Maybe
Speaker 3: you're thinking, well, I think it's worth it. I think
Speaker 3: we need to look at the bigger picture as well,
Speaker 3: because if you're working that many hours, how are you
Speaker 3: supporting your health and well being outside of those hours,
Speaker 3: Like are you still going out? Are you, you know,
Speaker 3: not nourishing your body in the way that you should?
Speaker 3: There are probably if you're going to continue this amount
Speaker 3: of hours and you're like, oh, well, how do I
Speaker 3: look after myself? Because like, go, I'm doing it whether
Speaker 3: you like it or not. How are you, you know,
Speaker 3: getting up in the mornings, are you getting enough sleep?
Speaker 3: Like how do we prioritize looking after our body in
Speaker 3: the moment, Because for a lot of us who are
Speaker 3: in these situations where we are earning so much money
Speaker 3: and we're well, we can't step back because I'm paying
Speaker 3: off debt or I'm putting a roof over my head,
Speaker 3: or i have kids, or I have all of the
Speaker 3: Victoria's not we can't just step back and be like, well,
Speaker 3: so the money's not worth it and flip our hair
Speaker 3: over our shoulder and be fine with it. Like how
Speaker 3: are you making sure that your body is in the
Speaker 3: best possible position at the moment, Like I don't believe
Speaker 3: that every single.
Speaker 1: Thing can be imbalanced right now.
Speaker 3: So like getting enough sleep, putting the right nutrition into
Speaker 3: your body, you know, fostering positive relationships around you. Have
Speaker 3: you got people that you can talk to about this,
Speaker 3: because that will make the load feel even lighter, Like
Speaker 3: what support is available to you? So like just hitting
Speaker 3: the nail on the head with that as well. But ultimately,
Speaker 3: if you're in that position where you can step back,
Speaker 3: that's what I would be doing, sitting.
Speaker 1: Lots of love. I hope you look after yourself my.
Speaker 3: Life absolutely all right, guys, do you want to get
Speaker 3: into the juicy DM we got this weekly. I'm excited
Speaker 3: you said yes because I was going to do it anyway.
Speaker 3: So this week our DM high shees. On the money,
Speaker 3: I have a financial dilemma or question. My in laws
Speaker 3: have offered for us to build on a block that
Speaker 3: they have in an area we would never be able
Speaker 3: to afford to buy in. We would just need to
Speaker 3: pay for the mortgage repayments for the cost of the build.
Speaker 3: It's financially a great opportunity, and I have a great
Speaker 3: relationship with my in laws. However, the block is not
Speaker 3: in my name, and so the house and loan will
Speaker 3: also not be in my name, and we will be
Speaker 3: pouring our savings into them. It is in their will
Speaker 3: that it will go to my partner and I, but
Speaker 3: until then I need to protect myself. My partner and
Speaker 3: I were looking at getting a financial agreement in place
Speaker 3: by a lawyer so that my money is protected. However,
Speaker 3: I don't know what to put in this document or
Speaker 3: advice on what other people had wished they had in
Speaker 3: place before entering into an agreement like this, What would
Speaker 3: you do?
Speaker 5: It's really it is a tricky one.
Speaker 4: I don't know.
Speaker 5: I feel like I don't know enough about this, so
Speaker 5: I apologize in advance.
Speaker 1: But we can make some assumptions.
Speaker 6: Yes, And also but I don't know the like that
Speaker 6: much about like owning a home or anything like that
Speaker 6: in general. But I think, yeah, if you could, if
Speaker 6: you put like some sort of like financial something in
Speaker 6: place to make sure that you'll protect I don't know
Speaker 6: the whole thing.
Speaker 5: To me, really, I am a person who's like, oh,
Speaker 5: too hard basket.
Speaker 6: I kind of like, and that's why i'm, you know,
Speaker 6: financially not getting ahead because I'm always like it's too
Speaker 6: much work. So but I feel like it's maybe too
Speaker 6: much and I would just be like, oh, don't worry
Speaker 6: about it. I also feel like, is this a place
Speaker 6: you want to move to or are you just like
Speaker 6: like if someone said to me, like, oh, you could
Speaker 6: own a house in Vall Clues in Sydney, I'll be
Speaker 6: like that sounds great. It's just for context, very expensive area.
Speaker 6: A gorgeous area, but I don't want to move to
Speaker 6: Sydney and I don't want to live in voll Clues
Speaker 6: and that was never of my hopes and dreams lists.
Speaker 6: So I'm like, oh, cool, this opportunity to live somewhere
Speaker 6: I've literally never wanted to live before. I'll be so
Speaker 6: far away from my friends and family, but it's a
Speaker 6: very expensive area. I would be like, no thing, cause
Speaker 6: I'll just do keep doing what I'm doing. I'm happy,
Speaker 6: I'm on the right trajectory and I'll eventually buy where
Speaker 6: I want to live. And so if that's something, if
Speaker 6: you're like, am I just do? I just feel this
Speaker 6: urgency because I'm like, well, what am I going to
Speaker 6: get this opportunity again? Then maybe you think about like
Speaker 6: is this something you want to do or you just
Speaker 6: feel like you It'd be really.
Speaker 3: Assuming she wants to because she said, oh, in an
Speaker 3: area that I couldn't afford, Like, because I'm assuming when
Speaker 3: you say what I mean in an area I can't afford.
Speaker 3: It's like we would love to live there, but like
Speaker 3: we can't afford a block.
Speaker 1: You know what I mean?
Speaker 5: I know, but that's what I mean, is like, is
Speaker 5: it that's what I meant.
Speaker 4: The cost of living going to be higher in this area?
Speaker 4: Is that kind of what you're getting out, like if
Speaker 4: you live in a more affluent area.
Speaker 6: I guess, so, I guess what I'm getting at is like,
Speaker 6: was that an area you wanted to live in. Was
Speaker 6: that an area that you were like, oh my god,
Speaker 6: I would love to live here, or is it like WHOA,
Speaker 6: I would never usually be able to afford this, but
Speaker 6: I didn't want to live here.
Speaker 5: I just you know what I mean, So figure out
Speaker 5: that's what's going on?
Speaker 1: Yes, jess what are you doing?
Speaker 4: From a contractual perspective, I would probably be looking to
Speaker 4: put a clause in. I mean, honestly, first and foremost,
Speaker 4: I would just be relying on a lawyer personally, like.
Speaker 3: Yeah, get that advice from that lawyer, baby, Yeah, that
Speaker 3: you value our opinion, and obviously we're going to tell
Speaker 3: you what we think.
Speaker 4: But like I would be putting my faith in someone
Speaker 4: who does this day in and day out for their job.
Speaker 4: The kind of clause I would be looking for is
Speaker 4: perhaps something that would say because wills can be changed,
Speaker 4: and that would be my concern. So, like if the
Speaker 4: will was to be changed or if you know, God
Speaker 4: forbid you and your partner were to break up or
Speaker 4: go separate ways or something like that, you would be
Speaker 4: repaid the money that you had put into the house.
Speaker 4: And I mean like you could look at you know,
Speaker 4: maybe with interest or you know, if the house were
Speaker 4: to sell, you could get a percentage. There's lots of
Speaker 4: different ways that you could split it. And that's where
Speaker 4: I'd kind of rely on the lawyer to be like, well,
Speaker 4: what's the best way to go about this. But I
Speaker 4: would be looking to kind of find a way to
Speaker 4: ensure that there's a contract in place to say that
Speaker 4: if for whatever reason, the whole thing went tits up,
Speaker 4: like you're getting your money back because on paper you
Speaker 4: have no ownership, like you're not entitled to anything. So
Speaker 4: I would be seeking to clarify that specifically.
Speaker 1: Yeah, so you can do that.
Speaker 3: I when I was a financial adviser, had to client
Speaker 3: that went through this because his family were really wealthy
Speaker 3: and they like the reason they didn't want to like
Speaker 3: gift the property was like it was quite complex, it
Speaker 3: was in a trust. They would have been a whole
Speaker 3: heap of capital gains to like pay to get it out,
Speaker 3: Like there was a good reason for it, but binding
Speaker 3: financial agreement with contribution clauses. We want to sit down
Speaker 3: and go, okay, cool. If I'm putting my money in,
Speaker 3: I want a clause in there that says I'm going
Speaker 3: to get my money back. I also want to make
Speaker 3: sure that there's like a reimbursement or a compensation clause,
Speaker 3: so if the property is sold or transfers names, or
Speaker 3: my circumstance changes, like we break up, like what happens,
Speaker 3: Like there's not just a caveat that says if it's sold,
Speaker 3: I get my money back. Like how is this going
Speaker 3: to be reimbursed to me? Because obviously it's on his parents' land.
Speaker 3: I'm assuming that you're not going to get to keep
Speaker 3: the land if you break up, But like what about
Speaker 3: the house, Like it's not going to be an option
Speaker 3: for you to stay in that house. So there's like
Speaker 3: a few more things I want you to think about there,
Speaker 3: But you are absolutely on the right path and asking
Speaker 3: the right questions right now to put yourself in the
Speaker 3: best possible position. And then the other thing I would
Speaker 3: touch on is maybe like I don't know, like spicy
Speaker 3: not spicy, Like the inheritance intentions, Yeah, they mean nothing.
Speaker 3: So just because it's in his parents' will to go
Speaker 3: to you, you can change your will tomorrow. You don't
Speaker 3: need permission from anybody else to change it. They could
Speaker 3: show you a signed copy of their will today, you
Speaker 3: sign off on everything, and they go back to their
Speaker 3: lawyers tomorrow and change it. It doesn't matter who it's
Speaker 3: like entrusted to right now. That doesn't uphold in court,
Speaker 3: Like there's no reason, Like they don't owe you anything,
Speaker 3: if that makes sense. So, while that is a beautiful intention,
Speaker 3: I would actually like a binding financial agreement that says
Speaker 3: I will get my money back. Yeah, and whatever other
Speaker 3: clauses you think are important, because it's just what are
Speaker 3: my rules if it's coming to me? Also, like maintenance,
Speaker 3: land taxes rates, who's paying those?
Speaker 4: Yeah?
Speaker 3: Like if it's not in my name, is that my responsibility?
Speaker 3: Can we get clarity on that? Also, if I do
Speaker 3: start paying the rates for that property, do I have
Speaker 3: any entitlement to asking for that land in the future
Speaker 3: if we separate. There's a lot of questions that I
Speaker 3: can't answer because I'm not a lawyer. Go talk to
Speaker 3: a lawyer. But those are the things.
Speaker 1: You can ask.
Speaker 3: Yeah, what everybody else say oh, there was a lot
Speaker 3: of conversation. So first question we asked to the community,
Speaker 3: would you enter in agreement to build a house with
Speaker 3: your in laws like this? Twenty two percent of you
Speaker 3: said yep, if it means I could have a house,
Speaker 3: thirty percent said no, way to messy, and forty eight
Speaker 3: percent of you said, well, it depends on the in laws.
Speaker 3: We asked another question, what do you think should happen
Speaker 3: if the relationship ended? So thirty five percent of you
Speaker 3: said yep. Should be paid out at market value, thirty
Speaker 3: one percent negotiate based on the situation, twenty five percent
Speaker 3: said sell and spralit the profits, and nine percent of
Speaker 3: you said, just reimburse my contributions. Which interesting, but like,
Speaker 3: these are the questions that you need to do, take
Speaker 3: to the lawyer to go well in the event that
Speaker 3: this doesn't work out. And that's what I mean about.
Speaker 3: You know what happens if you break up Every situation,
Speaker 3: every business, every property needs an exit strategy.
Speaker 1: You need an exit. I don't care who you are.
Speaker 3: Jess is going to buy her first home at some
Speaker 3: point soon and I'm so flipping excited about it. But
Speaker 3: one of the first questions I will ask her, what's
Speaker 3: your exit strategy. How would we sell this? How is
Speaker 3: it structured? Like just might be like it's my family home.
Speaker 3: I never want to sell it. Cool, but we always
Speaker 3: have an exit strategy. Anyway, we ask the community, what
Speaker 3: are your two cents? First person, I thought my in
Speaker 3: laws were great too until they weren't get it in writing.
Speaker 3: But seriously find another way.
Speaker 2: Yeah.
Speaker 3: Next person said, just speak to a lawyer. Cover all
Speaker 3: your bases. If you split up, you or the in laws,
Speaker 3: death happens, changes happen, make sure you're covered.
Speaker 1: I agree.
Speaker 3: Another person said, you need to consider any ramifications are
Speaker 3: the ato with avoiding damp duty, which is true, and
Speaker 3: it's also probably one of the reasons why they don't
Speaker 3: want to transfer it into your name because you might
Speaker 3: trigger a cell and you might trigger a transfer of
Speaker 3: assets and some stamp duty, because stamp duty happens, whether
Speaker 3: you like it or not, when you transfer property from
Speaker 3: one name to an another. However, if it is in
Speaker 3: a will and it's like part of a deceased a state,
Speaker 3: often that's waived, so that might be why it's like
Speaker 3: in the will. But I want this stuff in writing.
Speaker 3: I want a legally binding contract. Because a will that's
Speaker 3: just thoughts and hopes and dreams.
Speaker 1: Baby.
Speaker 3: Someone else said, and this person's user name has like
Speaker 3: the word legal in it, so like, oh yeah, and.
Speaker 1: She prefaces it with as a property lawyer. There you go.
Speaker 1: My opinion is this is hands down.
Speaker 3: A very terrible idea. And then she uses six red
Speaker 3: flag emojis.
Speaker 6: Oh that's the person I'm listening to. Yeah, I'm going
Speaker 6: about she.
Speaker 1: Has legal in her user Yeah.
Speaker 3: Another person who does not have legal in her username said,
Speaker 3: I'm so surprised at how many people would be happy
Speaker 3: to sign this. Yes, I have a three party one
Speaker 3: for you. This is again not a legal representative that
Speaker 3: has disclosed. Someone said, I'm in a similar situation. My
Speaker 3: in laws helped my fiance buy a property, and I'm
Speaker 3: expected to pay off the mortgage. They wouldn't accept having
Speaker 3: my name on it. We are getting a binding financial agreement,
Speaker 3: but I still think it is unfair. Mortgage repayments are
Speaker 3: a huge contribution.
Speaker 4: Yeah, so that person, I'd be saying, just pay market
Speaker 4: value rent them. Yeah yeah, yeah, Rather so my mortgage
Speaker 4: contribution will be in line with what I would pay,
Speaker 4: but that.
Speaker 3: Would be logical. Yeah, don't be here with your logic.
Speaker 3: Someone else said, and I'm just going to give you
Speaker 3: two more. Someone else said, generous in laws who clearly
Speaker 3: love you, take the deal with an arrangement in place. Again,
Speaker 3: everyone has but everyone has different opinions.
Speaker 5: Right, that's true.
Speaker 1: And then last one.
Speaker 3: I'll share is in laws will always protect their own blood.
Speaker 3: Do you have your own money to go to court
Speaker 3: if it doesn't work out?
Speaker 5: Well, that's a very good point.
Speaker 1: I think that's a very good point. But anyway, good.
Speaker 4: Luck, talk to talk to a lawyer.
Speaker 1: Have a good weekend. I think we're going to wrap
Speaker 1: it up here.
Speaker 3: So have a good weekend, my friends, and we'll see
Speaker 3: you on Monday, bright and early for a money Monday Diary.
Speaker 1: Bye, guys, Money Monday Diary. Just think about I'll see
Speaker 1: you later.
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