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

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

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

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

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

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

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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

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Speaker 4: Hello, and welcome to She's on the Money. Do you

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Speaker 4: have some millennials who want financial freedom? Today? My friends,

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Speaker 4: it is Friday, which means it is time to get

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Speaker 4: our ten year little team together to celebrate you. Ow incredible.

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Speaker 4: She's on the Money community today, msters Greed. She's going

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Speaker 4: to be sharing some of her favorite money wins. Bex

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Speaker 4: I Ed has a money win that she's stolen from

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Speaker 4: Miss Jess Grici, which, honestly, I feel like you're just

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Speaker 4: good at getting other people to do your homework.

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Speaker 2: Yeah, I'm really good at it.

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Speaker 4: Yeah, that's true. It's true. We have a juicy money dilemma,

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Speaker 4: which this week is all about weather. You should be

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Speaker 4: removing purchase conditions when you're bidding for a property to

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Speaker 4: give you a better shot at home ownership. And we're

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Speaker 4: gonna unpack something that you slid into our DMS about

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Speaker 4: this week. You asked about accepting money with conditions, which

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Speaker 4: gives me the ick and I can't wait to answer that.

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Speaker 4: But before we get there, Ah, Gus Grechi, how was

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Speaker 4: your birthday?

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Speaker 2: We it is wonderful.

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Speaker 5: We went out for dinner, we went shopping. James bought

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Speaker 5: me a jelly cat, which is very exciting.

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Speaker 4: Actually, yeah, I saw on your Instagram you went to

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Speaker 4: the jelly Cat shop and I was, okay, really envious.

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Speaker 4: So cute.

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Speaker 5: I got the two little marshmallows adorable, Oh you did?

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Speaker 4: Yeah?

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Speaker 5: It was aolsome weekend, like nothing crazy, but just feeling

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Speaker 5: very loved and happy. And I love.

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Speaker 4: Hazy inside and the marshmallows.

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Speaker 5: Yeah, they're actually adorable.

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Speaker 4: How are you putting them?

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Speaker 5: I was gonna put them on my bedside table, but

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Speaker 5: then on the drive hand I had them sitting like

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Speaker 5: on top of my dashboard. Is their little legs were.

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Speaker 4: Hanging over cud.

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Speaker 5: Yeah, okay, they live in the car now, yeah, that's

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Speaker 5: the why they're going to go.

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Speaker 4: So no, I love it. I love it.

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Speaker 2: They're cute.

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Speaker 4: How's your week being really nice?

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Speaker 2: Actually, I know you asked me this off and I

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Speaker 2: was like, I did nothing, But then I remember that

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Speaker 2: I did many things. I went to the that magical

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Speaker 2: like Harry Potter. It was actually really good. But I

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Speaker 2: also went to LightScape like a week earlier, and I'm like, oh,

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Speaker 2: it was hard on to beat, and I don't know

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Speaker 2: that it fully did. But I also have never really

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Speaker 2: watched Harry Potter. So I think if you had watched

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Speaker 2: Harry Potter, I'm sorry, what disgrace to millennials everywhere. I

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Speaker 2: know that's disgusting, I know, but I mean, like, what

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Speaker 2: do you mean you make time for Harry Potter? Was

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Speaker 2: like this, it was one hundred fifty hours to watch.

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Speaker 4: Yeah, one hundred and fifty hours well spent.

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Speaker 5: Yes, suppose have you seen those cinemas that do like

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Speaker 5: every couple of years, they'll do like a marathon where

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Speaker 5: you can like bring like a blanket and they do

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Speaker 5: like all the episodes back to.

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Speaker 4: Back I have ADHD. I could never Yeah, that's right.

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Speaker 4: It is really sweet. You could do that in your house,

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Speaker 4: in your made up cinema.

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Speaker 2: Yeah, totally. I was literally thinking about that.

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Speaker 5: That would be cute.

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Speaker 2: Yeah, that would be cute.

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Speaker 4: I feel like you would like Harry Potter.

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Speaker 2: Yeah, I think I would too. It's quite magical, isn't it.

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Speaker 4: Yeah, Like I think you would like it, and then

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Speaker 4: I think you would get involved with the paraphernalia that

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Speaker 4: comes with it, Like I think you'd be like, I

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Speaker 4: want to try it, but it be like.

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Speaker 2: What I'm scared of this scale a one? Yeah? Yeah,

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Speaker 2: I know what else they do sell ones? There? This

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Speaker 2: magical thing and do they actually?

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Speaker 6: Yeah?

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Speaker 2: And I thought like if I was into this little

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Speaker 2: bit more, this would be my dream. So it was

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Speaker 2: really cool actually really.

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Speaker 4: Oh my gosh. That brings flashbacks back when I was young.

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Speaker 4: I would have been like twelve or thirteen. We went

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Speaker 4: and we drove to Queensland for a family holiday and

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Speaker 4: we went to Movie World and they had the Harry

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Speaker 4: Potter World at Movie World at that point in time,

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Speaker 4: and my parents bought me a wand wow, and it

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Speaker 4: was like the coolest thing I ever had, and my

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Speaker 4: sister got one too, and we used to fight over

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Speaker 4: each other's wants. I wanted to because clearly hers was

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Speaker 4: much better than mine.

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Speaker 2: Totally, it just feels magical. I can imagine holding a water.

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Speaker 4: Pool, especially as a kid, like having a Harry Potter

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Speaker 4: wand Harry Potter World. Laura's a thirty year old. Really, hey,

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Speaker 4: you know what you do you let's get into today's

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Speaker 4: episode even further. I want to know, mister Sakricci, if

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Speaker 4: you've got some money wins all confessions from our community

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Speaker 4: to share.

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Speaker 5: What a coincidence. I just so happened to have some

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Speaker 5: that I prepared earlier.

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Speaker 4: I did not see that coming.

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Speaker 5: My first on this week is from Imagen, who said

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Speaker 5: she had to go at making bread on the weekend.

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Speaker 5: She's so happy with how it turned out. It's really

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Speaker 5: easy to make and it costs her less than two

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Speaker 5: bucks a loaf, so she's thinking about doing it regularly

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Speaker 5: rather than buying it from.

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Speaker 2: The sleeper market.

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Speaker 4: And the processed with that, and there is a photo

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Speaker 4: of her perfect loss.

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Speaker 2: Oh my gosh, that's perfect.

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Speaker 5: It'd immaculate.

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Speaker 2: Can you try your hand and then make a perfect.

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Speaker 4: Long Literally that's actually quite rude. Do you know what's

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Speaker 4: a really really good money win. I mean Image, and

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Speaker 4: I'm so sorry to trump you on this, but my

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Speaker 4: dad has recently gotten into making bread. So now whenever

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Speaker 4: I go and see my parents, I come home with

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Speaker 4: a loaf of bread for free and it's homemade and

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Speaker 4: it's delicious. And he's like, I've been, you know, trying

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Speaker 4: out this ryce sour dough and I'm like, no worries,

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Speaker 4: I'll take whatever you're giving.

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Speaker 5: Yeah, I feel like nothing quite hits like fresh bread

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Speaker 5: and it's wholesome.

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Speaker 4: But imagen, it's so much cheaper. Even my dad was

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Speaker 4: talking about how he can make like this rice sour

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Speaker 4: dough for like two dollars a loaf, and now at

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Speaker 4: the bakery it's like eight or nine.

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Speaker 5: Crazy very good skill from Image in there. Next, I've

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Speaker 5: got a money win from Anna, who said she has

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Speaker 5: a manifestation money win and that I would be proud.

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Speaker 5: She said she wanted a certain bunk bed for the

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Speaker 5: kids and she only had a certain budget for it,

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Speaker 5: so she was manifesting a second hand one for two

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Speaker 5: hundred bucks that she wanted to pay, and then they

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Speaker 5: managed to find it.

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Speaker 4: Oh my god.

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Speaker 5: Apparently then normally fifteen hundred.

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Speaker 4: Dollars two hundred dollars down to two hundred dollary due.

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Speaker 5: Scored it on Facebook market place. Well done, Anna, I

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Speaker 5: am indeed proud of you. Next, I've got money win

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Speaker 5: from Sophie, who said she hasn't used her credit card

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Speaker 5: or her after pay, you know, for a month. Oh

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Speaker 5: Queen mab well done, Sophie. That's such a hard habit

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Speaker 5: to break. Yeah, that's really awesome. Well done to you.

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Speaker 5: Vicki said she used Velocity points instead of money this

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Speaker 5: month to book some flights. It would have been six

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Speaker 5: hundred dollars for her daughters to fly down to Melbourne,

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Speaker 5: but instead she just had to pay the taxes, which

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Speaker 5: was one hundred and thirty four.

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Speaker 4: Oh my gosh, mry Win.

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Speaker 5: Well done.

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Speaker 4: Like we've gone back to like the early two thousands

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Speaker 4: when you could get like forty nine dollar flights. Oh

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Speaker 4: do you remember those days? You'd like get on Virgin

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Speaker 4: and be like yeah, this was like forty nine dollars.

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Speaker 5: Yeah, like what if only? Next, I've got money in

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Speaker 5: from Hailey, who said she got a free bassinet and bouncer,

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Speaker 5: as well as some baby bedding from her friend whose

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Speaker 5: child had outgrown everything.

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Speaker 4: Which how good is that circular.

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Speaker 5: Economy within friendships. I know that I've said it before,

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Speaker 5: but I'm so all about it. I think that is

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Speaker 5: the best money when you can have and then if

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Speaker 5: you get if you have another baby, they can just

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Speaker 5: give it.

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Speaker 4: Back one hundred percent. If you see Harvey in anything

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Speaker 4: cute in the next couple of months, Thanks Steph. She

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Speaker 4: dropped off all of her sons stuff that he had

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Speaker 4: grown out of. I've got all this cute baby stuff. Also,

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Speaker 4: babies use things for zero point two seconds, so they're

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Speaker 4: basically brand new. What the heck?

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Speaker 5: Yeah, so good. And then on the similar vein, Tash

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Speaker 5: said her friend was going away for the weekend and

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Speaker 5: she gave her a heap of food that they had

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Speaker 5: in their fridge that was gonna go bad while they

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Speaker 5: were away.

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Speaker 4: Oh money, we.

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Speaker 5: Didn't need to do a food chop this week.

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Speaker 4: I love that. I feel like more people should do

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Speaker 4: that before they go on holiday. I'm talking to me

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Speaker 4: when I say that holiday, and I was like, oh,

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Speaker 4: this is so disappointing. Like there was a whole yogurt

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Speaker 4: in our fridge. No, but like the tub, like the

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Speaker 4: that we hadn't even opened yet, and I went to

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Speaker 4: have a look because like, I'm definitely I don't know

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Speaker 4: about you. I know Jess would never but like I'll

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Speaker 4: do the sniff test. If it smells fine, we're eating it, Jess.

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Speaker 4: If the dates out like it's already out the house,

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Speaker 4: it makes me nervous.

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Speaker 2: Yeah, that's fair, which is so fine.

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Speaker 4: But like I sniffed the o yet, it wasn't an option.

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Speaker 5: Eating dairy for me is already risky as a lactosey

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Speaker 5: tolerant girl.

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Speaker 4: That's so fair. That is so fair.

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Speaker 5: Lastly, one more money win, A simple one, but a

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Speaker 5: good one from Nat. She said she's paid down three

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Speaker 5: of her debts and she's got three to go, so

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Speaker 5: she's officially over the halfway mark.

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Speaker 4: How exciting done, You're on up? How good you all?

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Speaker 2: Right?

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Speaker 4: Well those were really good money wins. But I feel like, Beg,

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Speaker 4: you might have like a stolen broke tip or two.

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Speaker 2: Yeah, I've got a couple. I got a couple of

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Speaker 2: stolen broke tips.

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Speaker 4: Broke tips still steal money wins.

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Speaker 2: And I'll start with two from the community. The first

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Speaker 2: one comes from one of our community members who says, Hi, back,

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Speaker 2: this is I feel like Jessic, you might like this one.

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Speaker 2: It's very similar to my plane broke tip, where I

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Speaker 2: say I wear.

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Speaker 4: Or Okay, I don't know where this is going.

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Speaker 2: Then well this is like actually a bit of a

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Speaker 2: life hack but also a broke tip if you're really

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Speaker 2: trying to save on. Yeah, let's say, is.

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Speaker 4: This going to be funny? We're going to get a

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Speaker 4: snorty laugh out of Jess because I am for that.

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Speaker 2: You know it is rare. I don't know that I'll

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Speaker 2: get it this time.

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Speaker 4: But this the time you wore like seven pairs fun

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Speaker 4: to wear onto.

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Speaker 2: The true that's still funny.

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Speaker 4: That's still funny.

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Speaker 2: Doesn't want its magic, Jess.

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Speaker 4: You could have just put them in your pockets.

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Speaker 2: Okay, how I got for them anywhere? But wearing them

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Speaker 2: feels better. It's very cushy. So these community members as

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Speaker 2: following on from that episode, I just cackled about you

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Speaker 2: wearing multiple clothes. You can also find like a neck

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Speaker 2: pillow that has a washable sleeve. Remove the pillow and

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Speaker 2: stuff it with your underwear, your socks, whatever. It's functional,

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Speaker 2: and you also now have a plumped up neck pillow

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Speaker 2: you can use on the plane.

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Speaker 4: Hey, that's quite smart.

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Speaker 1: Such.

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Speaker 4: I feel like that's genius because I've seen on TikTok

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Speaker 4: people suggesting that you get a quote pillow and fill it.

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Speaker 4: But they're gonna pick you up on that. Like people

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Speaker 4: on TikTok are saying, oh, I got caught and they

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Speaker 4: measured it and they had to pay for it. In addition,

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Speaker 4: they're not a pillow the neck pillow that's super.

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Speaker 2: Sillily that really just wear it around your neck. You

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Speaker 2: wouldn't even notice. It's a light.

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Speaker 4: And then if they say is that a pillow, be like, no,

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Speaker 4: it's an accessory. That's my outfit.

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Speaker 2: Yeah, what are they going to do?

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Speaker 5: Take the pillow off your neck? Surely not. That's a

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Speaker 5: good one.

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Speaker 2: That's really smart. We didn't get a snort laugh and

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Speaker 2: that's quite a right. The next one comes from Nadine,

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Speaker 2: who has sent me a real like and do you

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Speaker 2: guys want me to like say.

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Speaker 4: I mean, we're want the link, but tell us what

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Speaker 4: happens in the real Yeah, of course, so interpretive dance

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Speaker 4: as a form of showing us it's not going to

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Speaker 4: work on the podcast, so you could just tell true.

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Speaker 2: I mean, we can put it up on stories. But

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Speaker 2: it's from Nadine, but she sent me this reule that

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Speaker 2: is the page is the food Inbox, and this person

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Speaker 2: has shown us how they've made a week's worth of

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Speaker 2: food for two people for fifty.

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Speaker 4: Dollars and it's a good deal.

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Speaker 2: And I know that, Like you know, obviously the listeners

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Speaker 2: can't see this right now, but I'm looking at it

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Speaker 2: and it looks like it's full of vegetables, fruits, really

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Speaker 2: really good food. These look like really decent, generous sized

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Speaker 2: portions for a whole week. Fifty bucks fifty So what

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Speaker 2: we see the name the food Inbox?

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Speaker 4: All right, we'll go check it out. I love saying

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Speaker 4: it wrong. I love that. Now, what is your broke

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Speaker 4: tip of the week?

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Speaker 2: So my one comes from myself and maybe.

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Speaker 4: Definitely not just.

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Speaker 2: So, Jess, you went to pancake parlor.

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Speaker 4: So it was like that's it was like a really

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Speaker 4: good time.

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Speaker 2: Sound like good times. I was like an expensive time

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Speaker 2: and you were like, no, Actually, in winter, when the

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Speaker 2: temperature of I'm assuming the city that you're in drops

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Speaker 2: below a certain point, the winter warmer menu is half price.

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Speaker 4: How good is that?

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Speaker 2: That's really cute?

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Speaker 4: I love that, and I mean, we're definitely not sponsored

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Speaker 4: by pancake parlot. I'm about to say that, yeah, same,

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Speaker 4: because I can't afford to eat there, Like I feel

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Speaker 4: like it is like fine dining prices nowadays, Like you

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Speaker 4: go and you're like I thought the pancake parlor was

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Speaker 4: like cheap, cheerful, like twenty four hours, like you can

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Speaker 4: get pancakes at any time. We went a little while ago.

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Speaker 4: Actually it would have been like a year or two ago.

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Speaker 4: Jess do you remember the time they dragged our entire

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Speaker 4: team to the pancake parlor to watch the budget?

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Speaker 5: Oh my god, Yeah, that was so funny.

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Speaker 2: That's cute.

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Speaker 4: And I was like, oh, by everyone pancakes because I

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Speaker 4: needed to find in my head something engaging to get

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Speaker 4: everybody else in the team excited about watching federal budget.

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Speaker 4: Turns out, no one cared. They were there for pancakes

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Speaker 4: that cost me so much money because I can imagine

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Speaker 4: the pancakes is like twenty five minimumcakes.

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Speaker 5: I added a side of strawberries on ones, and the

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Speaker 5: side of strawberries was ten dollars.

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Speaker 2: It was the next time, I'm just going to.

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Speaker 5: Bring my own little top strawberry Like absolutely not.

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Speaker 4: I just I can't fathom it because in my head.

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Speaker 4: It used to be cheap and cheerful. Yeah, but it

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Speaker 4: can be only if it's cold enough.

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Speaker 5: Yeah, and anytime it's under ten degrees, under ten degrees.

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Speaker 4: And it's like winter, So that's happening a lot.

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Speaker 2: Is that a high of ten or just ten at

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Speaker 2: any point in the day.

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Speaker 5: I think it's when it hits ten degrees, so like

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Speaker 5: morning or evening usually like we went or post dinner snack.

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Speaker 4: I like it. I'm going to check the temperature before

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Speaker 4: I have a craving for pancakes.

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Speaker 2: Yeah, I mean, like literally any morning in winter. I

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Speaker 2: assume you can go for breakfast, but anyway, I could

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Speaker 2: be wrong.

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Speaker 4: Sorry pancake parlator for the trash talking, but I mean

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Speaker 4: you are really expensive for pancakes.

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Speaker 3: There.

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Speaker 4: That's what we're still going. We're still going.

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Speaker 2: We've or without the ten degree what the calls? I

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Speaker 2: can't think of anyway. That's me for this week. I

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Speaker 2: hope I love that.

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Speaker 4: You have once again stolen a broke tip from someone

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Speaker 4: called Jess.

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Speaker 5: Oh I didn't even It's really an ongoing thing, there

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Speaker 5: really is.

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Speaker 4: So if any Jesses would like to dm Beck with

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Speaker 4: a broke tip. Apparently she's only accepting them from people

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Speaker 4: called Jess. Yeah, so that's fine, and I'll claim it

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Speaker 4: as my own or only if your name is Jess. Yeah,

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Speaker 4: everyone else fair, that's fair credit. I love that. All right,

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Speaker 4: let's go to a really quick break because on the

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Speaker 4: flip side, I'm really interested in the perfect topic of

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Speaker 4: accepting money that does come with conditions, And we're also

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Speaker 4: going to be chatting about whether removing purchasing conditions when

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Speaker 4: you're bidding on a property at auction gives you a

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Speaker 4: better chance at home ownership. So don't go anywhere, guys.

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Speaker 5: Welcome back, everybody. Let's take a listen to this week's

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Speaker 5: money dilemma.

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Speaker 4: Hi, there, have you got a money dilemma you just

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Speaker 4: can't solve that. She's on the Money Team is here

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Speaker 4: to help. Every week we tackle your dilemmas, both big

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Speaker 4: and small, to answer your most burning money, career and

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Speaker 4: life questions. To get involved, simply head to our website

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Speaker 4: and leave us a short voice recording and you might

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Speaker 4: just find yourself on the show. Now, let's take a

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

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Speaker 6: Hey, Victoria, me and my sister are trying to buy

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Speaker 6: an apartment together. It's our first time buying a place,

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Speaker 6: so we're still learning and everything. We're noticing that every

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Speaker 6: time we place an offer on an apartment there's someone

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Speaker 6: who is paying in cash and has like no conditions

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Speaker 6: on their offer, but unfortunately we need conditions, like in

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Speaker 6: particular subject to finance.

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Speaker 4: It kind of feels like there will always.

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Speaker 7: Be wealthier people who are able to pay them for

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Speaker 7: with an unconditional offer, So we're not really sure how

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Speaker 7: to compete. How risky is it to remove all conditions,

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Speaker 7: including subject to finance from our offers moving forward.

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Speaker 4: That's really risky and I wouldn't be considering it if

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Speaker 4: you need it, which you said you did. That gives

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Speaker 4: me mad amounts of anxiety, especially because you said, you

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Speaker 4: know we need it to be subject to finance. Yes,

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Speaker 4: you do, because if it's not subject to finance, you

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Speaker 4: could literally lose your deposit and then you won't be

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Speaker 4: able to buy any house in the future, which is wild.

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Speaker 4: I get it, though, like Jess is probably better at

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Speaker 4: this topic than I am at the moment, because Jess,

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Speaker 4: you've been going to a lot of inspections.

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Speaker 5: A lot of inspection and not doing a lot of winning. No, No,

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Speaker 5: we haven't. Actually we haven't tended in an offer yet,

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Speaker 5: but I completely agree. I think the other big one

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Speaker 5: for me in subject to finance is subject to building

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Speaker 5: a pest, which is maybe one that you can get

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Speaker 5: around because some agents are a bit more flexible and

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Speaker 5: they want to have as few as our listener is

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Speaker 5: saying as few conditions in that.

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Speaker 4: Offer as possible.

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Speaker 5: So if you are eager to put an offer in,

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Speaker 5: the two that I would not skip is building a

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Speaker 5: pest and finance if.

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Speaker 4: You need it, which is a genie sae.

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Speaker 5: You might be able to say to the agent, Hey,

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Speaker 5: like we would want to get a building and pest

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Speaker 5: done before we purchased, are you happy for us to

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Speaker 5: do that prior to putting our offer in. So it's

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Speaker 5: one less contingency that's in place, and a lot of agencies,

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Speaker 5: particularly if it's not occupied or things like that, a

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Speaker 5: lot of them are pretty happy to let you do

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Speaker 5: that because it's one less thing that's on that offer,

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Speaker 5: one easier thing for them to get that offer through

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Speaker 5: because ultimately they want to sell the house. So you

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Speaker 5: might be able to do that. In terms of your

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00:17:20,080 --> 00:17:22,680
Speaker 5: subject to finance, you could look at doing a pre approval.

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Speaker 5: That's something that your mortgage broker would be able to

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Speaker 5: help you.

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Speaker 4: With I heard there's good mortgage brokers at Sealer Money.

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Speaker 5: I have heard that they seem to be very lovely

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Speaker 5: from what I've heard, what you've heard, there's many many

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Speaker 5: phone calls that I've made that I've made to that team.

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Speaker 4: Wow, what a conundrum.

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Speaker 5: Yeah, so your mortgage broker would be able to help

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Speaker 5: you get a pre approval. You know, obviously they only

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Speaker 5: last for so long, so you'd only want to get

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Speaker 5: it done if you're actively making offers.

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Speaker 4: Yeah, one hundred percent. And that's where your mortgage broker

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Speaker 4: can help you. So they might not submit for pre

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Speaker 4: approval until you're like, yeah, I actually do have a

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Speaker 4: few properties on the go, but it's important to start

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Speaker 4: that conversation early. But yeah, the subject of finance one

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Speaker 4: gives me anxiety.

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Speaker 7: Jah.

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Speaker 5: Yeah, And having the pre approval in place might just

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Speaker 5: be enough. You know, you can say, hey, like, we

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Speaker 5: have that subject to finance, but we have a pre approval,

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Speaker 5: and that is often enough to make the vendor really

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Speaker 5: comfortable knowing that it seems like it's going to go true.

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Speaker 5: Rather than taking a step in the dark.

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Speaker 4: I would be cautious here providing your pre approval to

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Speaker 4: the real estate agent, because hypothetically, I know that Jess,

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Speaker 4: you are often pre approved for more money than what

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Speaker 4: the house is, and you don't actually want the real

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Speaker 4: estate agent to go, oh, well, this property is five

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Speaker 4: hundred thousand and she's pre approved for five fifty. I'm

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Speaker 4: going to tell them that there's another person and do

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Speaker 4: you want to go up to five fifty, Jess. So

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Speaker 4: I'd be really apprehensive of providing it, but telling them

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Speaker 4: that you're pre approved for the amount that you're offering

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Speaker 4: is really powerful. The other thing I would say is

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Speaker 4: if there seems to be some stress around that building

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Speaker 4: and pest inspection, asking the real estate agent if it's

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Speaker 4: been done already is really powerful as well, because if

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Speaker 4: you're not the only person interested in it, there could

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Speaker 4: be another party who has done it that might have

445
00:18:59,359 --> 00:19:01,840
Speaker 4: provided it to the real estate agent. And I promise

446
00:19:01,920 --> 00:19:03,760
Speaker 4: the real estate agent wants to give it to you

447
00:19:03,960 --> 00:19:06,240
Speaker 4: because they want your offer on the table. So it's

448
00:19:06,359 --> 00:19:09,560
Speaker 4: very likely that they'll say, oh, yeah, actually one's been done,

449
00:19:09,600 --> 00:19:11,680
Speaker 4: and at that point Jess might go, oh, well, can

450
00:19:11,720 --> 00:19:13,680
Speaker 4: I please have a copy of it? Because that means

451
00:19:13,680 --> 00:19:15,679
Speaker 4: I will not be subject to building and pest, and

452
00:19:15,720 --> 00:19:18,080
Speaker 4: I don't have to make you wait for my offer

453
00:19:18,200 --> 00:19:20,960
Speaker 4: to you know, go unconditional. And at that point you'd

454
00:19:20,960 --> 00:19:23,640
Speaker 4: hand it to your solicitor and say is this comprehensive enough?

455
00:19:23,680 --> 00:19:25,960
Speaker 4: Like what does this look like? And they might go yep, great,

456
00:19:26,240 --> 00:19:29,200
Speaker 4: don't worry about it, there's no issues, or they might go, oh,

457
00:19:29,280 --> 00:19:31,720
Speaker 4: that's I don't like that building and pest. Please get

458
00:19:31,760 --> 00:19:35,800
Speaker 4: your own. So definitely have that on your side. I

459
00:19:35,840 --> 00:19:37,960
Speaker 4: know it can be really disheartening though. If there are

460
00:19:37,960 --> 00:19:41,119
Speaker 4: a lot of people buying cash in this market, it

461
00:19:41,160 --> 00:19:44,160
Speaker 4: can make you want to do things that compromise your values.

462
00:19:44,640 --> 00:19:48,000
Speaker 4: And I think that that sucks. But I don't think

463
00:19:48,040 --> 00:19:50,480
Speaker 4: that you should forego to it. I don't think we risk.

464
00:19:50,520 --> 00:19:52,840
Speaker 4: It's not worth the risk. It's not worth going there.

465
00:19:53,280 --> 00:19:55,840
Speaker 4: Having a good relationship with a broker, though, means on

466
00:19:55,920 --> 00:19:58,680
Speaker 4: that day you can call them and be like, hey, Beck,

467
00:19:58,880 --> 00:20:01,560
Speaker 4: I've got this property. It's five hundred thousand dollars. Say no,

468
00:20:01,600 --> 00:20:04,080
Speaker 4: I'm pre approved, but am I okay? And your broker's

469
00:20:04,080 --> 00:20:06,640
Speaker 4: going to go yeah, Beck, tell them it's fine, absolutely

470
00:20:06,720 --> 00:20:09,320
Speaker 4: no worries because pre approval could be in lots of

471
00:20:09,320 --> 00:20:12,240
Speaker 4: different stages. There might be you know, pre approval that

472
00:20:12,280 --> 00:20:14,199
Speaker 4: happened two months ago, and they go, ah, let me

473
00:20:14,320 --> 00:20:16,200
Speaker 4: just check on that and make sure that the bank

474
00:20:16,240 --> 00:20:18,600
Speaker 4: hasn't moved the goalposts and then you'll be good to go.

475
00:20:19,119 --> 00:20:21,359
Speaker 4: Or maybe pre approval happened two days ago and you're like,

476
00:20:21,400 --> 00:20:23,920
Speaker 4: all right, well, ready set go. So I think it's

477
00:20:23,960 --> 00:20:26,400
Speaker 4: important to have that relationship with someone you can call

478
00:20:26,440 --> 00:20:29,040
Speaker 4: and be like, hey, where are we at? So this person,

479
00:20:29,160 --> 00:20:31,399
Speaker 4: I would say, get a good relationship with a broker,

480
00:20:31,760 --> 00:20:35,119
Speaker 4: ask that broker for a recommendation for a solicitor. The

481
00:20:35,200 --> 00:20:38,040
Speaker 4: reason I say ask for a recommendation is it is

482
00:20:38,280 --> 00:20:40,760
Speaker 4: great if you're broker and you're solicitor or on the

483
00:20:40,760 --> 00:20:43,120
Speaker 4: same page. They can go back and forth together and

484
00:20:43,280 --> 00:20:44,679
Speaker 4: be like, hey, Beck, what do you reckon about? This

485
00:20:44,720 --> 00:20:47,160
Speaker 4: property just is going to get okay? No, yes, actually

486
00:20:47,240 --> 00:20:48,800
Speaker 4: I noted this. Can you have a look at this

487
00:20:48,880 --> 00:20:51,920
Speaker 4: in this contract? And all of those things. It makes

488
00:20:51,960 --> 00:20:54,359
Speaker 4: your life so much easier if they are in contact.

489
00:20:54,920 --> 00:20:57,960
Speaker 4: And the other thing I would say is holdstrong. It sucks.

490
00:20:58,160 --> 00:21:01,280
Speaker 4: It's bloody tough out there. Jess can probably agree that

491
00:21:01,320 --> 00:21:03,399
Speaker 4: it is not the best thing to do, but there's

492
00:21:03,480 --> 00:21:07,840
Speaker 4: no way I would be compromising on those conditions just

493
00:21:07,920 --> 00:21:10,679
Speaker 4: to get your foot in the door, unless it's a

494
00:21:10,760 --> 00:21:14,119
Speaker 4: very calculated risk, like you know you're pre approved and saying,

495
00:21:14,200 --> 00:21:17,080
Speaker 4: oh yeah, don't worry, I can not be subject to

496
00:21:17,119 --> 00:21:20,320
Speaker 4: finance because it's a guaranteed thing. It's very different than

497
00:21:20,400 --> 00:21:23,480
Speaker 4: just hoping that you'll get alone for the amount that

498
00:21:23,520 --> 00:21:24,320
Speaker 4: you've been sure.

499
00:21:24,440 --> 00:21:26,800
Speaker 2: The only thing I have, and obviously, like I'm not

500
00:21:26,960 --> 00:21:30,479
Speaker 2: an expert in this topic, but my partner recently, actually

501
00:21:30,680 --> 00:21:37,520
Speaker 2: literally yesterday, was finally accepted. She was having the same issue.

502
00:21:37,720 --> 00:21:39,520
Speaker 2: Another friend of mine was having the exact same issue,

503
00:21:39,560 --> 00:21:40,200
Speaker 2: and I guess.

504
00:21:39,960 --> 00:21:42,640
Speaker 4: Like, the only sorry, are you dating a property owner?

505
00:21:42,800 --> 00:21:47,240
Speaker 2: I'm dating property so that's you know, it is a

506
00:21:47,280 --> 00:21:49,520
Speaker 2: bit of a flex but yeah, I'm you know, so

507
00:21:49,600 --> 00:21:51,359
Speaker 2: perspect for she was having the same issue. She was

508
00:21:51,359 --> 00:21:54,800
Speaker 2: really disheartened. The only other thing I would probably add

509
00:21:55,400 --> 00:21:58,080
Speaker 2: is that if you and this might be common knowledge,

510
00:21:58,280 --> 00:22:02,240
Speaker 2: if you like have the flexible ability to tell the

511
00:22:02,960 --> 00:22:06,199
Speaker 2: seller that you can do a twenty day, thirty day,

512
00:22:06,240 --> 00:22:09,440
Speaker 2: forty day, sixty day, whatever day.

513
00:22:09,160 --> 00:22:11,560
Speaker 4: Like a flexible settlement, that's smart pack.

514
00:22:11,440 --> 00:22:14,159
Speaker 2: That That's what she did, and they were like that

515
00:22:14,280 --> 00:22:16,320
Speaker 2: kind of too. Grow the line I think is they.

516
00:22:16,320 --> 00:22:18,119
Speaker 4: Going to get their cash faster, They're going to dispose

517
00:22:18,160 --> 00:22:21,399
Speaker 4: of the property faster, exactly, really smart exactly. So if

518
00:22:21,440 --> 00:22:23,920
Speaker 4: you're flexible, just like trying to make your offer as

519
00:22:23,960 --> 00:22:26,040
Speaker 4: attractive as possible, I guess that helps.

520
00:22:26,160 --> 00:22:27,480
Speaker 2: So that's all fart.

521
00:22:27,680 --> 00:22:29,120
Speaker 4: No, that's a very good addition.

522
00:22:29,160 --> 00:22:29,600
Speaker 2: I like it.

523
00:22:30,400 --> 00:22:32,080
Speaker 5: The one other tip I would have is look for

524
00:22:32,119 --> 00:22:34,800
Speaker 5: off market properties because there's got to be a little

525
00:22:34,840 --> 00:22:36,920
Speaker 5: to no competition on those, and so you might be

526
00:22:36,960 --> 00:22:38,679
Speaker 5: able to find someone who just wants to sell their property,

527
00:22:38,680 --> 00:22:42,440
Speaker 5: and if you can meet their desired range, then without

528
00:22:42,440 --> 00:22:44,360
Speaker 5: those other people competing, you might be able to get

529
00:22:44,359 --> 00:22:46,880
Speaker 5: your offer across the line with my house.

530
00:22:47,040 --> 00:22:48,399
Speaker 2: Yeah, that when I find my house.

531
00:22:48,840 --> 00:22:51,760
Speaker 4: So you can put a good word in with real

532
00:22:51,880 --> 00:22:54,120
Speaker 4: estate agents. So you could go to a real estate

533
00:22:54,200 --> 00:22:55,679
Speaker 4: agent and feel like, hey, I know you work in

534
00:22:55,680 --> 00:22:57,600
Speaker 4: this area and i'd like to purchase in this area.

535
00:22:57,600 --> 00:23:01,200
Speaker 4: Here's my criteria. I actually have a pre approval. Pre

536
00:23:01,240 --> 00:23:03,920
Speaker 4: approval when you're asking a real estate agent directly is

537
00:23:03,960 --> 00:23:06,560
Speaker 4: really important. Otherwise they might feel like they're wasting their

538
00:23:06,600 --> 00:23:08,800
Speaker 4: time and they won't call you. So making sure that

539
00:23:08,840 --> 00:23:10,639
Speaker 4: you go I am actually ready to buy it now

540
00:23:10,680 --> 00:23:13,280
Speaker 4: if you found my dream property. The other thing is

541
00:23:13,320 --> 00:23:17,040
Speaker 4: buyers agents. So I used a buyer's agent, and a

542
00:23:17,080 --> 00:23:21,320
Speaker 4: buyer's agent here in Melbourne can cost anywhere between five

543
00:23:21,480 --> 00:23:24,160
Speaker 4: and fifteen thousand dollars. And I know you go, oh,

544
00:23:24,359 --> 00:23:27,040
Speaker 4: that's a lot of money, and it totally is, especially

545
00:23:27,040 --> 00:23:29,560
Speaker 4: if you're purchasing your first property. But I can I

546
00:23:29,560 --> 00:23:33,520
Speaker 4: don't want to guarantee it, but fifteen thousand dollars we're

547
00:23:33,560 --> 00:23:36,399
Speaker 4: at the top end. When you're paying a buyer's agent

548
00:23:36,440 --> 00:23:38,560
Speaker 4: to find you an off market property that's going to

549
00:23:38,600 --> 00:23:40,520
Speaker 4: move and you're not going to get in a bidding

550
00:23:40,560 --> 00:23:44,120
Speaker 4: war with somebody, you could probably save more than fifteen

551
00:23:44,160 --> 00:23:46,200
Speaker 4: thousand dollars on your property. It's a really good point.

552
00:23:46,280 --> 00:23:49,800
Speaker 4: I saved a lot on my property when I purchased

553
00:23:49,840 --> 00:23:52,960
Speaker 4: through a buyer's agent because I was offered an off

554
00:23:52,960 --> 00:23:55,560
Speaker 4: market property. And I know I've spoken about this on

555
00:23:55,600 --> 00:23:59,119
Speaker 4: the podcast before. However, I was offered an off market

556
00:23:59,119 --> 00:24:01,920
Speaker 4: property because I had my pre approval and we were

557
00:24:01,960 --> 00:24:04,919
Speaker 4: ready to move. It had to move quickly for us

558
00:24:05,000 --> 00:24:08,679
Speaker 4: to seize the opportunity, and it was done and dusted

559
00:24:08,680 --> 00:24:12,200
Speaker 4: within twenty four hours of us seeing the house. Oh, amazing,

560
00:24:12,440 --> 00:24:16,359
Speaker 4: but I have saved way more than fifteen thousand dollars

561
00:24:16,359 --> 00:24:18,840
Speaker 4: on the purchase price because the person selling it they

562
00:24:18,840 --> 00:24:21,320
Speaker 4: didn't want to stage the property. They didn't want to,

563
00:24:21,359 --> 00:24:23,840
Speaker 4: you know, fix up anything that needed fixing up to

564
00:24:23,880 --> 00:24:26,640
Speaker 4: get it on real estate dot Com. They didn't want

565
00:24:26,840 --> 00:24:29,440
Speaker 4: to go back and forth with people going through the house.

566
00:24:29,560 --> 00:24:31,520
Speaker 4: When I viewed the house, there was a whole heap

567
00:24:31,560 --> 00:24:34,160
Speaker 4: of just like personal stuff and boxes in the corners

568
00:24:34,359 --> 00:24:36,919
Speaker 4: because they'd actually already moved overseas and they just wanted

569
00:24:36,920 --> 00:24:39,360
Speaker 4: the property gone. So they were like, we don't want

570
00:24:39,359 --> 00:24:41,679
Speaker 4: to deal with this, get rid of the property. That

571
00:24:41,840 --> 00:24:44,520
Speaker 4: meant that I saved a significant amount, but I had

572
00:24:44,560 --> 00:24:47,000
Speaker 4: to move fast. So that's where it goes back to

573
00:24:47,280 --> 00:24:50,479
Speaker 4: having that good relationship with a broker, thinking about what

574
00:24:50,520 --> 00:24:52,639
Speaker 4: it means to engage a buyers agent. You could have

575
00:24:52,640 --> 00:24:54,720
Speaker 4: a chat with someone and see what that looks like

576
00:24:54,840 --> 00:24:57,000
Speaker 4: having our list. Now, go and get the pre approval

577
00:24:57,080 --> 00:25:00,159
Speaker 4: so that they are ready to go, so that if

578
00:25:00,160 --> 00:25:02,640
Speaker 4: a bias agent goes, hey, here's an opportunity, they're able

579
00:25:02,680 --> 00:25:05,760
Speaker 4: to seize it because they're ready. Is really really powerful,

580
00:25:06,000 --> 00:25:09,639
Speaker 4: and I know that it can be overwhelming. Property is expensive.

581
00:25:09,960 --> 00:25:12,919
Speaker 4: But for me having that and then also having somebody

582
00:25:12,920 --> 00:25:15,040
Speaker 4: who was an expert in the area saying this is

583
00:25:15,080 --> 00:25:18,240
Speaker 4: pretty goodbyeveh, I was like, Okay, I feel really confident

584
00:25:18,480 --> 00:25:21,120
Speaker 4: ultimately direct movie contingencies. They're there to protect you. Yeah,

585
00:25:21,160 --> 00:25:26,879
Speaker 4: don't do that. Yeah, terrible idea, terrible to compromise your values.

586
00:25:26,880 --> 00:25:28,679
Speaker 4: And that is not what this content is about.

587
00:25:28,800 --> 00:25:30,120
Speaker 2: No, it's not about it.

588
00:25:30,400 --> 00:25:32,919
Speaker 4: Do you want to get into something really juicy? Oh

589
00:25:32,960 --> 00:25:34,879
Speaker 4: my gosh, all right, so this week we got a

590
00:25:34,960 --> 00:25:39,280
Speaker 4: DM and are you ready? It sounds like this high team.

591
00:25:39,359 --> 00:25:42,159
Speaker 4: I have a listener question. After telling my parents how

592
00:25:42,240 --> 00:25:44,520
Speaker 4: much our home loan is costing us and the amount

593
00:25:44,520 --> 00:25:47,240
Speaker 4: that is portioned into interest and how much is being

594
00:25:47,240 --> 00:25:49,840
Speaker 4: paid off the loan, my mum and dad came back

595
00:25:49,880 --> 00:25:52,480
Speaker 4: to me with an offer. Before I get to the offer,

596
00:25:52,520 --> 00:25:54,600
Speaker 4: I would like to mention that they can be very

597
00:25:54,640 --> 00:26:00,240
Speaker 4: emotionally manipulative and they love control. They've offered us fifty

598
00:26:00,280 --> 00:26:03,920
Speaker 4: thousand dollars to go towards our home loan. Conditions are

599
00:26:04,200 --> 00:26:07,159
Speaker 4: we are not allowed to tell our siblings. I know

600
00:26:07,240 --> 00:26:10,080
Speaker 4: this money would really help us, but I'm not sure

601
00:26:10,119 --> 00:26:12,920
Speaker 4: if there will be more conditions to come down the track.

602
00:26:13,080 --> 00:26:16,960
Speaker 4: Please help me, I need advice. PS. Love your podcast.

603
00:26:17,280 --> 00:26:19,439
Speaker 4: Oh that's very nice. That's so cute.

604
00:26:19,680 --> 00:26:20,440
Speaker 2: I love you too.

605
00:26:20,520 --> 00:26:22,800
Speaker 4: I don't love emotionally manipulative parents.

606
00:26:23,040 --> 00:26:24,399
Speaker 5: No, no, no.

607
00:26:24,880 --> 00:26:29,120
Speaker 4: That gives me a lot of anxiety. And I mean,

608
00:26:30,000 --> 00:26:31,800
Speaker 4: there are a lot of things that you could or

609
00:26:31,800 --> 00:26:33,320
Speaker 4: couldn't do back what would you do?

610
00:26:33,600 --> 00:26:37,320
Speaker 2: I think it's really I don't know, Like I feel

611
00:26:37,320 --> 00:26:41,280
Speaker 2: like it's not worth the struggle, the stress, I think,

612
00:26:41,600 --> 00:26:44,960
Speaker 2: and also like you're kind of like risking the relationship

613
00:26:45,119 --> 00:26:47,680
Speaker 2: in general, like but you know, your family bond whatever.

614
00:26:47,880 --> 00:26:50,600
Speaker 2: But I just think like the stress and the potential

615
00:26:51,280 --> 00:26:54,960
Speaker 2: I don't know, future complications. I just like I probably

616
00:26:55,000 --> 00:26:57,320
Speaker 2: would just kind of like go on my own journey,

617
00:26:57,320 --> 00:26:59,919
Speaker 2: be on my own journey and only rely on my

618
00:27:00,720 --> 00:27:01,880
Speaker 2: I don't know, you do know what I'm saying.

619
00:27:01,960 --> 00:27:04,480
Speaker 4: Yeah, fifty thousand dollars is a lot of money, and

620
00:27:04,520 --> 00:27:07,560
Speaker 4: it would mean that you have a lower interest payment

621
00:27:08,560 --> 00:27:11,760
Speaker 4: on that mortgage, which would take off some financial stress.

622
00:27:12,040 --> 00:27:14,120
Speaker 4: And I get them being like, oh, don't tell your siblings,

623
00:27:14,160 --> 00:27:16,080
Speaker 4: And I mean I don't love that. Like I'm the

624
00:27:16,080 --> 00:27:18,639
Speaker 4: type of person where if there is a secret and

625
00:27:18,680 --> 00:27:21,160
Speaker 4: you're keeping a secret, it means that you know you're

626
00:27:21,200 --> 00:27:23,640
Speaker 4: doing the wrong thing, like and I just think that

627
00:27:23,640 --> 00:27:26,800
Speaker 4: that's not okay. Like in any situation if someone has

628
00:27:26,840 --> 00:27:29,760
Speaker 4: told you to not tell anybody about something, I feel

629
00:27:29,800 --> 00:27:31,960
Speaker 4: like that means that they know that they're in the wrong,

630
00:27:32,600 --> 00:27:36,520
Speaker 4: and I just go okay. So clearly your siblings wouldn't

631
00:27:36,800 --> 00:27:39,840
Speaker 4: like that. But that aside, if you're happy with that condition,

632
00:27:39,920 --> 00:27:42,280
Speaker 4: and there's only one condition and you're happy with it,

633
00:27:42,320 --> 00:27:44,840
Speaker 4: that's none of my business. It's not for me to judge.

634
00:27:44,960 --> 00:27:47,879
Speaker 4: Your concern is they might add conditions down the track.

635
00:27:47,960 --> 00:27:50,960
Speaker 4: And that's where I go, oh, I don't like other

636
00:27:51,000 --> 00:27:53,320
Speaker 4: people having me that way.

637
00:27:53,680 --> 00:27:57,000
Speaker 2: I think, sorry to jumping again, but I just exactly

638
00:27:57,320 --> 00:28:00,440
Speaker 2: what you're saying. And it's also the feeling you're kind

639
00:28:00,480 --> 00:28:04,399
Speaker 2: of hiding something from someone and if you can just

640
00:28:04,440 --> 00:28:07,679
Speaker 2: never mention it, like even in casual discussion, like it's

641
00:28:07,720 --> 00:28:10,399
Speaker 2: constantly they're like, that's so exciting, do you thing?

642
00:28:10,440 --> 00:28:10,720
Speaker 6: I don't know.

643
00:28:10,720 --> 00:28:11,800
Speaker 2: I just don't think I would.

644
00:28:11,560 --> 00:28:13,920
Speaker 4: Be thinking about it all the time. Yeah, I don't

645
00:28:13,920 --> 00:28:16,159
Speaker 4: think I could go and hang out with my sister

646
00:28:16,520 --> 00:28:18,680
Speaker 4: and then it would, yeah, just be in my head

647
00:28:18,720 --> 00:28:22,720
Speaker 4: because that's significant, Like not that you need to tell them, Yeah, it's.

648
00:28:22,600 --> 00:28:24,840
Speaker 2: Not part of the conversation, but like, like I don't know,

649
00:28:24,880 --> 00:28:26,320
Speaker 2: I just be shaking and be like.

650
00:28:28,520 --> 00:28:29,280
Speaker 4: What I'm gonna do?

651
00:28:29,560 --> 00:28:31,760
Speaker 2: Yeah, it's so hard I couldn't.

652
00:28:31,960 --> 00:28:33,560
Speaker 5: It comes out at a random time, They're like, can

653
00:28:33,600 --> 00:28:34,520
Speaker 5: you pass the tomatoes?

654
00:28:34,520 --> 00:28:35,040
Speaker 6: And you're like.

655
00:28:38,400 --> 00:28:40,280
Speaker 2: Just shoot out at a random moment?

656
00:28:40,960 --> 00:28:41,920
Speaker 4: Why we all like that?

657
00:28:43,440 --> 00:28:43,920
Speaker 1: Not cool?

658
00:28:44,080 --> 00:28:44,959
Speaker 4: Jess what would you do?

659
00:28:45,200 --> 00:28:49,440
Speaker 5: I think I personally agree with that it's the giving

660
00:28:49,440 --> 00:28:51,840
Speaker 5: of power. And I think particularly because our listener has

661
00:28:51,880 --> 00:28:55,960
Speaker 5: said emotional manipulation historically has been a problem. Yeah, I

662
00:28:56,000 --> 00:28:59,440
Speaker 5: personally think it is not worth that. However, I acknowledge

663
00:28:59,440 --> 00:29:01,440
Speaker 5: that that's a very privileged thing to say, and that

664
00:29:01,600 --> 00:29:04,520
Speaker 5: you know, if that fifty thousand dollars potentially could change

665
00:29:04,520 --> 00:29:06,239
Speaker 5: your life and you really need it, and you know,

666
00:29:06,600 --> 00:29:07,960
Speaker 5: you just feel like it's going to make a huge

667
00:29:07,960 --> 00:29:10,520
Speaker 5: difference to you. The way that I would maybe go

668
00:29:10,640 --> 00:29:14,200
Speaker 5: about it is setting up an offset and depositing the

669
00:29:14,240 --> 00:29:16,000
Speaker 5: fifty thousand dollars into an offset.

670
00:29:16,400 --> 00:29:19,200
Speaker 4: So that's so smart. Gets to love this, thank you,

671
00:29:19,320 --> 00:29:20,680
Speaker 4: I'm not even needed here.

672
00:29:20,920 --> 00:29:22,840
Speaker 5: I think like if it gets to a point where

673
00:29:22,960 --> 00:29:27,040
Speaker 5: they're adding on different rules or it's becoming very uncomfortable

674
00:29:27,200 --> 00:29:29,560
Speaker 5: or the relationship with your siblings is getting strained.

675
00:29:29,560 --> 00:29:30,720
Speaker 4: You can just give it straight back.

676
00:29:30,840 --> 00:29:33,120
Speaker 5: Yeah, you can just pull it out, no issues, give

677
00:29:33,120 --> 00:29:34,480
Speaker 5: it back to them and say thank you so much

678
00:29:34,520 --> 00:29:36,360
Speaker 5: for the help that you've given me, but I think

679
00:29:36,360 --> 00:29:39,000
Speaker 5: it's not worth it. Correct, And so you can.

680
00:29:38,960 --> 00:29:39,840
Speaker 4: Do that in the same day.

681
00:29:40,040 --> 00:29:42,080
Speaker 5: Yeah, oh can you there? You go, yeah, I feel

682
00:29:42,120 --> 00:29:44,920
Speaker 5: like that's a good middle ground. Maybe I feel like

683
00:29:44,960 --> 00:29:48,160
Speaker 5: that's the best ground. That's actually quite smart. In fact,

684
00:29:48,560 --> 00:29:51,640
Speaker 5: anytime you are taking money from someone else for something

685
00:29:51,720 --> 00:29:53,920
Speaker 5: like that, I would recommend it being in an offset,

686
00:29:54,080 --> 00:29:56,040
Speaker 5: because if you pay it off your loan, there's no

687
00:29:56,280 --> 00:29:58,960
Speaker 5: guarantee that you could access it later down the track.

688
00:29:59,320 --> 00:30:02,120
Speaker 4: Even in a draw. The bank could turn around and say, oh, well,

689
00:30:02,160 --> 00:30:04,160
Speaker 4: we're not letting you redraw that money because you know

690
00:30:04,160 --> 00:30:06,800
Speaker 4: your loan's over a certain percentage or whatnot, and that

691
00:30:06,960 --> 00:30:09,880
Speaker 4: is stressful. Imagine if your parents then said, oh, Jess,

692
00:30:09,920 --> 00:30:11,760
Speaker 4: we actually need that cash back, and you go, I

693
00:30:11,800 --> 00:30:13,640
Speaker 4: can't give it back right now, like you said, I

694
00:30:13,640 --> 00:30:15,000
Speaker 4: could have it for three years, and they go, oh,

695
00:30:15,080 --> 00:30:17,680
Speaker 4: yeah things have changed. You go, well I can't access it,

696
00:30:17,840 --> 00:30:20,160
Speaker 4: like yeah, I will have to sell my house. So

697
00:30:20,240 --> 00:30:22,840
Speaker 4: I think that the offset is the smartest thing, And

698
00:30:22,880 --> 00:30:26,400
Speaker 4: then I would also ask for a contract like, let's

699
00:30:26,480 --> 00:30:29,640
Speaker 4: establish a proper loan agreement with any term so you

700
00:30:29,640 --> 00:30:31,600
Speaker 4: can sit down and say, hey, like, I'm happy to

701
00:30:31,600 --> 00:30:33,880
Speaker 4: put all these terms in, and I'm actually even happy

702
00:30:34,200 --> 00:30:36,480
Speaker 4: to sign that I won't tell my siblings, Like, let's

703
00:30:36,520 --> 00:30:39,560
Speaker 4: put that that I'm happy to even sign and say

704
00:30:39,560 --> 00:30:43,040
Speaker 4: that I won't tell my siblings. What else, like, go away, guys,

705
00:30:43,200 --> 00:30:45,480
Speaker 4: have a think. Obviously, I don't think that there should

706
00:30:45,520 --> 00:30:47,600
Speaker 4: be any other stipulations, but you let me know if

707
00:30:47,600 --> 00:30:49,960
Speaker 4: there's anything else that needs to be in that contract,

708
00:30:50,000 --> 00:30:52,960
Speaker 4: because like ha haha, neither of us want to add

709
00:30:53,000 --> 00:30:55,360
Speaker 4: stuff later down the track, so that it can all

710
00:30:55,360 --> 00:30:58,360
Speaker 4: be kind of agreed to and in writing if you're

711
00:30:58,400 --> 00:31:00,800
Speaker 4: really worried about it. And then I think offset idea

712
00:31:00,920 --> 00:31:01,920
Speaker 4: is a really good one.

713
00:31:02,000 --> 00:31:04,200
Speaker 5: Chess, Thanks, What did everybody else have to say?

714
00:31:04,200 --> 00:31:06,600
Speaker 4: Oh my gosh. So we asked the community first question.

715
00:31:06,720 --> 00:31:08,480
Speaker 4: We said, would you accept the money if it had

716
00:31:08,640 --> 00:31:11,520
Speaker 4: conditions you had to follow? And twenty eight percent of

717
00:31:11,560 --> 00:31:13,200
Speaker 4: you said yeah, it would be a really big help.

718
00:31:13,400 --> 00:31:16,240
Speaker 4: But seventy two percent said nut doesn't sit right with me,

719
00:31:16,720 --> 00:31:18,800
Speaker 4: which I think is fair, Like I feel like each

720
00:31:18,880 --> 00:31:22,000
Speaker 4: to their own though. Our next question was would you

721
00:31:22,040 --> 00:31:24,520
Speaker 4: be okay with the condition of having to lie to

722
00:31:24,560 --> 00:31:27,880
Speaker 4: your siblings about money? Twenty seven percent of you said yep,

723
00:31:27,920 --> 00:31:32,080
Speaker 4: I could do it. Three percent said nut couldn't do it.

724
00:31:32,440 --> 00:31:36,320
Speaker 4: I was born to yap. Yeah, I'm really sorry. It's

725
00:31:36,360 --> 00:31:39,040
Speaker 4: going to come out like I did. Just is like

726
00:31:39,120 --> 00:31:41,200
Speaker 4: I can keep your secrets back, Like you could tell

727
00:31:41,240 --> 00:31:42,960
Speaker 4: me anything and I'd be like, cool, I'm not telling

728
00:31:43,000 --> 00:31:45,560
Speaker 4: anybody second I have anything about me. I'm like, jess,

729
00:31:45,600 --> 00:31:48,760
Speaker 4: guess what what what? Like, here's my secret? Tell me more,

730
00:31:48,800 --> 00:31:51,080
Speaker 4: here's my secret. Like I just can't keep it to myself.

731
00:31:51,240 --> 00:31:52,840
Speaker 4: I wake up some mornings and I'm like, I'm going

732
00:31:52,920 --> 00:31:54,960
Speaker 4: to be elusive. I'm not going to tell everybody my

733
00:31:55,040 --> 00:31:57,920
Speaker 4: life story. And then twenty minutes into my life story,

734
00:31:57,960 --> 00:32:02,440
Speaker 4: I'm like, maybe tomorrow. We then asked you, guys, what

735
00:32:02,480 --> 00:32:04,959
Speaker 4: do you think about this gift that the parents have offered.

736
00:32:05,360 --> 00:32:09,720
Speaker 4: Eighty one percent said a genuine gift wouldn't come with conditions,

737
00:32:10,080 --> 00:32:12,520
Speaker 4: and nineteen percent of you said they want to help.

738
00:32:12,720 --> 00:32:15,640
Speaker 4: I wouldn't overthink it. I don't think that's for us

739
00:32:15,680 --> 00:32:20,240
Speaker 4: to decide, though, because only you know your parents and

740
00:32:20,320 --> 00:32:20,960
Speaker 4: the situation.

741
00:32:21,200 --> 00:32:23,240
Speaker 5: Like, I can see how I guess from the parents'

742
00:32:23,280 --> 00:32:27,040
Speaker 5: perspective on purely the siblings thing. You know, if maybe

743
00:32:27,080 --> 00:32:29,520
Speaker 5: they weren't in the position to help kids, you know,

744
00:32:29,560 --> 00:32:31,320
Speaker 5: who were younger and now it's a bit later in

745
00:32:31,360 --> 00:32:33,680
Speaker 5: their life. Maybe they've accessed their retirement funds and they

746
00:32:33,680 --> 00:32:36,640
Speaker 5: have the money, but they don't want to create, you know,

747
00:32:36,680 --> 00:32:40,160
Speaker 5: a feeling of inequity or whatever. I can understand that, Like,

748
00:32:40,160 --> 00:32:43,440
Speaker 5: that's not necessarily the flag for me. It's the history

749
00:32:43,520 --> 00:32:43,880
Speaker 5: of you.

750
00:32:44,320 --> 00:32:45,640
Speaker 2: Say, it's hard to know.

751
00:32:45,760 --> 00:32:47,880
Speaker 4: I don't know why you're not saying that, because like

752
00:32:48,240 --> 00:32:52,040
Speaker 4: you could have one sibling who's really financially responsible and

753
00:32:52,080 --> 00:32:53,880
Speaker 4: that's you, and your parents want to help you out

754
00:32:53,920 --> 00:32:56,280
Speaker 4: even more financially with your mortgage because they're really proud

755
00:32:56,320 --> 00:32:59,600
Speaker 4: of that, and another who just is not financially responsible,

756
00:32:59,600 --> 00:33:01,680
Speaker 4: and they're like, I really don't want to give that

757
00:33:01,800 --> 00:33:04,840
Speaker 4: kid access to the same loan which I would feel

758
00:33:04,880 --> 00:33:07,600
Speaker 4: obligated to because I know they're not going to make

759
00:33:07,640 --> 00:33:08,600
Speaker 4: good decisions with that.

760
00:33:08,920 --> 00:33:09,000
Speaker 2: Ye.

761
00:33:09,280 --> 00:33:11,280
Speaker 4: So I can kind of understand that, but we don't

762
00:33:11,280 --> 00:33:14,640
Speaker 4: know the situation. Yeah, context is missing here. We then

763
00:33:14,680 --> 00:33:16,960
Speaker 4: asked you guys. Obviously it was your two cents what

764
00:33:17,000 --> 00:33:20,360
Speaker 4: do you reckon? And you guys had some colorful opinions.

765
00:33:20,480 --> 00:33:23,120
Speaker 4: So I'm going to go through a couple now. Someone asked,

766
00:33:23,160 --> 00:33:25,760
Speaker 4: is there any case law about gifts like this, meaning

767
00:33:25,800 --> 00:33:27,520
Speaker 4: parents can make claims on the house?

768
00:33:28,200 --> 00:33:28,600
Speaker 7: Oh?

769
00:33:29,200 --> 00:33:29,959
Speaker 2: Good point.

770
00:33:30,480 --> 00:33:35,320
Speaker 4: Interesting, but also no, because if it's a gift and

771
00:33:35,360 --> 00:33:38,000
Speaker 4: they're not on the mortgage, that's where it ends. So

772
00:33:38,080 --> 00:33:40,239
Speaker 4: I mean they could try, but it would have to

773
00:33:40,440 --> 00:33:42,520
Speaker 4: involve a lot of legal fees, it would have to

774
00:33:42,560 --> 00:33:44,760
Speaker 4: involve a lot. I'd be interested to see if there

775
00:33:44,880 --> 00:33:47,080
Speaker 4: was anything, But I think in Australia it's pretty cut

776
00:33:47,120 --> 00:33:48,520
Speaker 4: and dry. If you're not on the mortgage, you're not

777
00:33:48,680 --> 00:33:51,280
Speaker 4: entitled to it, if you're not a dependent, like if

778
00:33:51,320 --> 00:33:54,000
Speaker 4: you're not a significant other, and you're like a de

779
00:33:54,120 --> 00:33:57,960
Speaker 4: facto Someone said, how is this condition different to any

780
00:33:58,000 --> 00:34:02,200
Speaker 4: other contractual obligation? Sign it or don't. And I think

781
00:34:02,200 --> 00:34:04,400
Speaker 4: that that's a good point. I mean, we're probably putting

782
00:34:04,440 --> 00:34:07,240
Speaker 4: our morals into this question where they not need it.

783
00:34:07,320 --> 00:34:10,120
Speaker 4: But it's so it's a complex one.

784
00:34:10,160 --> 00:34:14,360
Speaker 2: It's complex because there's no emotion tied to a bank,

785
00:34:14,880 --> 00:34:18,520
Speaker 2: there's no emotion tied to any like a payday loan

786
00:34:18,600 --> 00:34:22,200
Speaker 2: for example. Like there's no history, and there's no attachments

787
00:34:22,239 --> 00:34:24,640
Speaker 2: and there's no but if someone that you have a

788
00:34:24,680 --> 00:34:28,560
Speaker 2: whole history, with an emotional history with and all of

789
00:34:28,560 --> 00:34:31,360
Speaker 2: this kind of stuff, it's so different. Yeah, you just

790
00:34:31,360 --> 00:34:32,520
Speaker 2: don't know what that'll turn into.

791
00:34:32,920 --> 00:34:35,759
Speaker 4: Yeah. So someone else said, my mum actually gave me

792
00:34:35,840 --> 00:34:38,759
Speaker 4: sixty thousand dollars to place in my overdrawer account to

793
00:34:38,760 --> 00:34:41,719
Speaker 4: bring my interest down. Then part two, I will give

794
00:34:41,760 --> 00:34:43,839
Speaker 4: her that money back when she needs it. But it's

795
00:34:43,880 --> 00:34:47,359
Speaker 4: been a huge help with decreasing my payable interest, which

796
00:34:47,400 --> 00:34:49,480
Speaker 4: I think is really smart. The only thing I have

797
00:34:50,040 --> 00:34:52,799
Speaker 4: there is that's a really good point. But maybe think

798
00:34:52,800 --> 00:34:55,480
Speaker 4: about putting it in an offset instead of an overdraw

799
00:34:55,600 --> 00:35:00,000
Speaker 4: to make sure that you can access that. Someone else said,

800
00:35:00,000 --> 00:35:04,680
Speaker 4: absolutely not protect your emotional peace. It's not worth fifty

801
00:35:04,719 --> 00:35:07,800
Speaker 4: grand I promise. Someone else said that's a red flag.

802
00:35:07,840 --> 00:35:10,399
Speaker 4: Having siblings can be so good if you can don't

803
00:35:10,480 --> 00:35:13,600
Speaker 4: risk your relationship with them. Yeah, which is true, because

804
00:35:13,640 --> 00:35:16,680
Speaker 4: you could be risking your relationship. Someone else said, take

805
00:35:16,719 --> 00:35:23,360
Speaker 4: the money. You don't know anything to your siblings. Someone

806
00:35:23,360 --> 00:35:25,680
Speaker 4: else said, people say no conditions and then they add

807
00:35:25,680 --> 00:35:28,359
Speaker 4: them down the track. It's not worth the risk. And

808
00:35:28,400 --> 00:35:30,360
Speaker 4: then the last one I'm going to read out is

809
00:35:30,440 --> 00:35:33,399
Speaker 4: trust your gut feeling. If it doesn't feel right, it

810
00:35:33,480 --> 00:35:37,080
Speaker 4: probably isn't. And I feel like that's my favorite one

811
00:35:37,200 --> 00:35:38,800
Speaker 4: because at the end of the day.

812
00:35:39,000 --> 00:35:39,799
Speaker 2: Got trust your gut.

813
00:35:39,960 --> 00:35:42,719
Speaker 4: I always say this to everybody, like, trust your gut.

814
00:35:43,000 --> 00:35:44,520
Speaker 4: If you don't think you should be doing it, don't.

815
00:35:45,040 --> 00:35:46,799
Speaker 4: But it doesn't matter what it is. I feel like

816
00:35:46,800 --> 00:35:49,280
Speaker 4: too often we say things like I should have trusted

817
00:35:49,280 --> 00:35:52,000
Speaker 4: my gut. Yeah, And as somebody who often doesn't trust

818
00:35:52,040 --> 00:35:54,160
Speaker 4: her gut, historically, trust your gut.

819
00:35:55,760 --> 00:35:57,239
Speaker 5: And on that note, let's go.

820
00:35:58,000 --> 00:36:00,400
Speaker 4: Let's go. I hope you have a beautiful week and

821
00:36:00,440 --> 00:36:03,000
Speaker 4: we will see you. Guys bright nearly from Monday. Money

822
00:36:03,000 --> 00:36:12,000
Speaker 4: Diaries by Guys Bye. The advice shared on She's on

823
00:36:12,080 --> 00:36:14,760
Speaker 4: the Money is general in nature and does not consider

824
00:36:14,760 --> 00:36:18,680
Speaker 4: your individual circumstances. She's on the Money exists purely for

825
00:36:18,840 --> 00:36:21,719
Speaker 4: educational purposes and should not be relied upon to make

826
00:36:21,760 --> 00:36:25,000
Speaker 4: an investment or financial decision. If you do choose to

827
00:36:25,000 --> 00:36:28,320
Speaker 4: buy a financial product, read the PDS TMD and obtain

828
00:36:28,360 --> 00:36:32,799
Speaker 4: appropriate financial advice tailored towards your needs. Victoria Divine and

829
00:36:32,920 --> 00:36:36,400
Speaker 4: She's on the money are authorized representatives of Money showper

830
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831
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