Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
Speaker 1: the Order Kerni Wholbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impactful tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money. Hello, and
Speaker 3: welcome to She's on the Money podcast that makes personal finance.
Speaker 2: Fun, especially on Fridays.
Speaker 3: It is our favorite day of the week because we
Speaker 3: get our team together and celebrate obviously you the incredible
Speaker 3: shees on the Money community and International Women's Day with
Speaker 3: Miss j who oh yay for you, I said, miss
Speaker 3: and You're like yay.
Speaker 2: I just really love like the money wins I share.
Speaker 3: I do too, and I adore International Women's Day and
Speaker 3: Beck You've obviously always got some breake tips for USS
Speaker 3: is my favorite to record of the week because it
Speaker 3: always goes nowhere that it was meant to.
Speaker 2: It's obviously not scripted.
Speaker 3: We just go I know the roles here, I know
Speaker 3: what I have to bring. Jess, you have to bring
Speaker 3: the money. Wins Beck, you have to bring the breake tips.
Speaker 3: Anything that happens in and there about like not our responsibility, Luly.
Speaker 4: We wipe our hands.
Speaker 2: Yeah exactly.
Speaker 3: It's like when you straighten your hair back of my head,
Speaker 3: not my responsibility.
Speaker 2: I don't care what she's doing.
Speaker 3: But moving on from that, we also are going to
Speaker 3: be helping to answer aducing money dilemma this week. We're
Speaker 3: going to be talking about whether you need to bother
Speaker 3: super splitting if you plan on retiring together anyway, and
Speaker 3: something is slid into our dms about experiencing the motherhood
Speaker 3: penalty at work. Feel like that one's a good one
Speaker 3: because I'm starting to feel that but you two are
Speaker 3: probably not going to relate, but you're like, oh, we
Speaker 3: know that it exists. Oh yeah, so I think it'd
Speaker 3: be an interesting conversation before we get there.
Speaker 2: Guys, would you like a five star review?
Speaker 3: Yeah? Sultly, So I'm gonna laugh a little bit. This
Speaker 3: is from Maya and Miya gave us a five star review,
Speaker 3: which is really really nice, but she gave it to
Speaker 3: us on Google.
Speaker 2: Honestly, whatever I can get.
Speaker 3: At this point, Mia says five stars not to sound dramatic,
Speaker 3: but that she's on the money podcast has transformed the
Speaker 3: way I think and act with money. I used to
Speaker 3: literally spend every last cent in my bank account for
Speaker 3: no good reason. Now I have an emergency fund, savings investments,
Speaker 3: and I have dedicated bank accounts, meaning I don't have
Speaker 3: the stress of whether I can pay for things or not.
Speaker 2: I just know.
Speaker 3: I'm so fortunate to have found this podcast, especially when
Speaker 3: I was transitioning into full time work from UNI.
Speaker 2: It was the best time.
Speaker 3: The podcast are super entertaining and engaging and so much
Speaker 3: fun to listen to on my commute to work and home.
Speaker 3: I feel like I have friends in my car with me.
Speaker 2: Lol. Love you guys.
Speaker 4: Oh my god, that is so nice to me.
Speaker 2: Oh thank you.
Speaker 4: I'm so sweet stoked for her.
Speaker 2: That is so good.
Speaker 3: Like the idea, she didn't just like leave a podcast
Speaker 3: review while listening. She literally sought us out googled us
Speaker 3: to try and leave a review. She would have had
Speaker 3: to make sure she was logged in to do that.
Speaker 2: Like that, it is so cute. I love that.
Speaker 3: It makes me feel so special that you guys really
Speaker 3: value what we do because obviously we put a lot
Speaker 3: of energy into it, but like that doesn't mean that
Speaker 3: other people see that or impacted by it. So it's
Speaker 3: just so nice. Now I want to know, are were weeks?
Speaker 3: What's been going on International Women's Day? Have you made cupcakes?
Speaker 3: Have you decorated your house like I would fully expect
Speaker 3: from What do you color.
Speaker 2: The symbolic thing? Do you know what I mean?
Speaker 4: And sorry if t am I, but I like to
Speaker 4: paint and collect labia manora madura literal hood so shaped,
Speaker 4: things so shaped. Sorry that.
Speaker 3: You did not give enough information you were like I
Speaker 3: like to collect baby is I mean?
Speaker 2: More power to you and you know not.
Speaker 4: Using the soaps just absolutely and they're quite ergonomic. But
Speaker 4: I do want to say also, I know that they're
Speaker 4: not everyone who identifies as a woman or who's celebrating
Speaker 4: International Women's Day have those that anatomy. But those things,
Speaker 4: I just think they're just quite beautiful when you look
Speaker 4: at them with an artistic lens.
Speaker 2: A beautiful thing to.
Speaker 4: Look totally so that's my on International Women's say yet.
Speaker 2: Collect soap? Who would have known that that's what was
Speaker 2: going to come up?
Speaker 1: Yeah?
Speaker 2: But I love it. But then now are you surprised? No,
Speaker 2: it makes perfect sense.
Speaker 3: Absolutely not we get it. I respect it. That's Callbeck.
Speaker 2: Thank you. I like that you think it's ergonomic.
Speaker 4: Yes, I can't say too much, all right, no worries.
Speaker 2: I love that for you.
Speaker 3: I also really love that you've called out that not
Speaker 3: absolutely everybody who's going to be celebrating International Women's Day
Speaker 3: is going to identify in a particular way, and I
Speaker 3: can't love that, Like absolutely, it's actually about just trying
Speaker 3: to celebrate the contributions that women have, focus on how
Speaker 3: we can make that better and like just really push forward.
Speaker 3: And I just think that that's a really beautiful way
Speaker 3: of doing it. So thank you for adding that for us.
Speaker 3: What are you doing in the office? What are you
Speaker 3: up to, Beck, apart from collecting Labia shaped soaps?
Speaker 4: Well, I well, my week's been actual, really really fun.
Speaker 4: So you know how I have like a new hobby
Speaker 4: every single week, Well, this one is too, yes, and
Speaker 4: Libia's and also stick and pokes and so to celebrate
Speaker 4: did you get anyone I have what's.
Speaker 2: A stick and poke?
Speaker 4: I totally ravished my legs? Is that the right word?
Speaker 5: Oh?
Speaker 3: I did notice that there were a few new things
Speaker 3: that I hadn't seen.
Speaker 2: Things you can tell.
Speaker 3: I can tell you've done it, and I saw you
Speaker 3: on Instagram. I'm like, girlfriend, are you giving your friend
Speaker 3: a tattoo at home? We could not be more different.
Speaker 2: I'm well, that's it.
Speaker 4: And also where you can see, like, there's shaved bits
Speaker 4: of my leg and that's where my tattoos are on there.
Speaker 4: I'm adding every single person that I love on my
Speaker 4: leg and so sweet ten names right now, and I'm.
Speaker 2: Going to add you guys. No, you're not as.
Speaker 6: Like.
Speaker 2: Don't get me wrong. I think that we like all
Speaker 2: on the same page.
Speaker 3: Hey, would you guys like to come over for a
Speaker 3: craft afternoon at my house?
Speaker 2: Both of you be like, heck, yeah, Beck's bringing her
Speaker 2: tattoo gun. You're bringing your blue gun. Yeah, exactly.
Speaker 3: When they say there are two kinds of people in
Speaker 3: this world, that's all I want to talk about.
Speaker 2: Oh, absolutely, and.
Speaker 4: We come together, so well, don't we comping me.
Speaker 2: With that tattoo gun?
Speaker 6: They look great though. You did a good job.
Speaker 2: Thank you. So much.
Speaker 4: I was going to come for you two next but
Speaker 4: I see you probably don't want a stick and poke tattoo.
Speaker 4: It's also very painful and very slow.
Speaker 2: Pros about it, but I say that's probably not my journey.
Speaker 2: But I'm not gonna lie. I would loved what you
Speaker 2: do want.
Speaker 6: Is my favorite, like one of my favorite styles artistically,
Speaker 6: Like I don't have tattoos. I don't think I get
Speaker 6: a tattoo, but I love how they look. Yes, so unique.
Speaker 2: Yes, I totally agree.
Speaker 4: Thank you, Jessica Ricky.
Speaker 3: I didn't even know that was a thing until right now,
Speaker 3: so I'm not even going to pretend to have any
Speaker 3: level of.
Speaker 2: Education on that.
Speaker 3: But thank you for involving me in the conversation. But
Speaker 3: what about you, guys, how's your week's been?
Speaker 5: Oh?
Speaker 3: I live, love, laugh like I've just been working my
Speaker 3: life away. You're a powerful woman, and I appreciate you.
Speaker 3: I really dave days. I really adore that you see
Speaker 3: it that way, because I've cried it this week out
Speaker 3: in the nicest possible way, just like work is overwhelming.
Speaker 3: There's just so much going on, and I think it
Speaker 3: would be a miss of me not to mention that
Speaker 3: and be like, oh yeah, like it's always good.
Speaker 2: It's always good.
Speaker 3: Like it's just sometimes being a woman in business is
Speaker 3: bloody hard, and you know what, that's okay, Still grateful
Speaker 3: to be here, still so excited about all of it. Like, guys,
Speaker 3: I still don't know what I'm doing. Most of the time.
Speaker 3: I've just been making it up.
Speaker 2: I am just a baby. But it turns out when
Speaker 2: you're the boss, no one's going to come in and
Speaker 2: be like, oh, we can fix it. Like this, honey,
Speaker 2: I've got to come up with my own solutions. What
Speaker 2: do you mean, where's my boss? Had supervision? Sometimes I
Speaker 2: do call Jess. I'm like, help me.
Speaker 6: It's just fun, can't which is we're just doing our best.
Speaker 2: That's okay, we're just making up and that is so fun.
Speaker 3: But it's been good, and it's probably been the perfect
Speaker 3: week for it, because you know, being International Women's Day.
Speaker 2: I think sometimes we're always like.
Speaker 3: Yay, like let's celebrate and have some cupcakes, but like,
Speaker 3: let's also celebrate that I kept a one year old alive,
Speaker 3: still maintained a house and ran two businesses and not
Speaker 3: into the ground, like amazing. Love that that's incredible. Yes,
Speaker 3: Sleigh and all the things that they're doing are just incredible.
Speaker 3: I love women, matter what it looks like.
Speaker 6: I think that they genuinely women make the world go around.
Speaker 6: I don't care what anybody says.
Speaker 3: That's the truth. Yeah, no, yeah, I agree, it is
Speaker 3: all right. Let's get further into the episode. Mis just
Speaker 3: a gritchi from the women in our community. What money,
Speaker 3: wins and confessions you're bringing to the.
Speaker 2: Table, alrighty.
Speaker 6: Firstly this week, I've got a win from Teleo, who
Speaker 6: said she was lucky enough to receive two scholarships for
Speaker 6: her court who which equates to just over sixty thousand dollars.
Speaker 2: What wow, crazy.
Speaker 6: She used doing incredible things. Congratulations, Yeahdia. Next, an equally
Speaker 6: exciting win from Ebony, who said she remembered to ship
Speaker 6: back the clothes she bought online within the refund period.
Speaker 6: Oh great, you love to see it. There's nothing worse
Speaker 6: than going to return something and realizing you missed it
Speaker 6: by a day or two. So thrilled with that. Next,
Speaker 6: I've got a money win from Rachel, who has taken
Speaker 6: a leave out of your book Back she said, the
Speaker 6: door handle on my car snapped off, and I was
Speaker 6: quoted just over five hundred dollars to replace it.
Speaker 2: Heck no. Instead, I bought.
Speaker 6: The replacement part brand you have eBay for twenty six
Speaker 6: dollars fifty including the shipping, and I installed it myself
Speaker 6: after watching YouTube videos showing me how it was a
Speaker 6: super easy fix and I saved myself so much money.
Speaker 4: Yes and icon ye so happy about that.
Speaker 6: One. My boyfriend's door handle was actually broken off on
Speaker 6: the inside of his cart. Maybe I should see if
Speaker 6: I can fix it absolutely like girl power. Next, I've
Speaker 6: got a money in from Taylor who said she ordered
Speaker 6: some wine glasses for her sister in law's at Hen's party.
Speaker 6: She got them online Click and Collect. They were four
Speaker 6: dollars for a pack of four. So not only did
Speaker 6: she get sixteen glasses for sixteen dollars, but then she
Speaker 6: went in store to pick them up and she saw
Speaker 6: they were still full price for ten bucks back.
Speaker 2: What money, my wors.
Speaker 6: I'm glad you click and Collect did the purchase in store.
Speaker 2: I'm glad you had a glass money win.
Speaker 3: On the weekend, we celebrated my son's first birthday and
Speaker 3: they ordered all of this, like cups and plates and
Speaker 3: balls and stuff. And it came on Monday, instead of
Speaker 3: on the Saturday for Friday, and I'd paid for express,
Speaker 3: so I was like, cool, now I have all this
Speaker 3: party stuff I'm never going to use. No, I actually
Speaker 3: put it in the cupboard because like, I know that
Speaker 3: I'll use it in the future.
Speaker 2: It's like just plain. But that's like the worst for mine.
Speaker 2: But it's alway I.
Speaker 3: Had to go to Kohl's and purchase like all this
Speaker 3: other stuff. Anyway, not the worst, but that was the
Speaker 3: money lost from me definitely. Next, I've got money in
Speaker 3: from Christy who said she discovered that her private health
Speaker 3: insurance has coverage for swimming lessons.
Speaker 2: For her kids.
Speaker 6: Great. Would never use me about that, but I was like,
Speaker 6: I have to read that out, so everyone who's got
Speaker 6: kids and insurance or obsessed. Christie said she's with HCF
Speaker 6: if that's helpful to anybody.
Speaker 2: Great.
Speaker 6: And then lastly this week, I've got a money win
Speaker 6: from Anna, who said money win. I educated myself on
Speaker 6: how to do a proper tax return, understanding what I
Speaker 6: can deduct and things like that, and I managed to
Speaker 6: reduce my taxable income enough to be eligible for government
Speaker 6: paid parental leave.
Speaker 2: Excuse me, that is iconic, Queen. I love that How
Speaker 2: cool is that? I have really good? Well done?
Speaker 6: Everybody, well done? Everyone is so good. Beck, some tips?
Speaker 6: How are you gonna follow Jess this week?
Speaker 4: Actually it's quite hard after that.
Speaker 2: That's okay, we'll pretend that didn't happen. What have you got? Okay?
Speaker 4: So first one comes from Holly who says this actually
Speaker 4: came at a very timely time. You say that I
Speaker 4: was making ramen, and then Holly messaged me same night
Speaker 4: night of and said, when you're cooking and needs stock,
Speaker 4: buy stock cubes. There's so much better value for money.
Speaker 4: You can buy one leader of pre made stock for
Speaker 4: around a dollar eighty at Aldi's a pack of twenty
Speaker 4: one of the stock cubes for the same price, which
Speaker 4: makes twenty one cups of stock five point two five liters.
Speaker 2: Hey, that's a good deal. She's done the matter.
Speaker 6: Less quickly too. I imagine, yes, exactly. The thing probably
Speaker 6: expire totally. I mean, I'm sure the cubes do too,
Speaker 6: but yeah, open, yeah.
Speaker 3: Look, I'm not gonna lie. I'm not like a liquid
Speaker 3: stock early. I just can't justify it. I have a
Speaker 3: tin of the massell.
Speaker 2: I love Masada.
Speaker 3: Yeah, in my pantry, and that's what we're using I
Speaker 3: don't care if it says bone broth that means stock. Yeah,
Speaker 3: bone bro I said stock at this point, I do
Speaker 3: because I watched a lot of tiktoks on it, and yes,
Speaker 3: there are multiple health benefits. But when I realized that
Speaker 3: purchasing bone broth is like fourteen dollars.
Speaker 2: I was like, I don't even want those benefits. That's
Speaker 2: all good?
Speaker 3: Yeah, oh yeah yeah, And I don't have like people
Speaker 3: will message me and just need to disclaim it and
Speaker 3: be like you can make your own. It's so cheap,
Speaker 3: and like it totally is because you get old soup
Speaker 3: bones to make bone broth. I don't have the time
Speaker 3: or the energy or the commitment. No, maybe one day,
Speaker 3: maybe one day I'll do it. Yeah, I feel like
Speaker 3: I'll be that person one day. I feel like we
Speaker 3: all be that person one day. Yeah.
Speaker 4: Sourdough at home and that also just really quickly, I
Speaker 4: want to say that lust. I don't actually remember when
Speaker 4: I said this, but I know that one of my
Speaker 4: Brock tips was that I keep my car and fifth
Speaker 4: kid where possible. But someone that you that was terrible
Speaker 4: kindly let me know. I believe Jazz is their name.
Speaker 4: Very kindly let me know that it is actually quite
Speaker 4: bad for the car and actually may also use more petrol.
Speaker 4: So don't do that, please, actually that Yes, so I'd
Speaker 4: like to take that back, and I'm so sorry to
Speaker 4: anyone who listened to that has.
Speaker 2: Been to stop doing that. Stop doing that right now
Speaker 2: where I.
Speaker 4: Had now, I would maybe kindly ask you to don't
Speaker 4: do that.
Speaker 1: All right?
Speaker 2: What else if you go? Next one comes from.
Speaker 4: Phoebe, who says she found a little savings sack that
Speaker 4: she accidentally discovered. Usually she buys the free filled debt
Speaker 4: L foaming hand soap. Usually one leater bottle is about
Speaker 4: four refills for the foaming soap. Stay with me, here's
Speaker 4: a few numbers. I accidentally purchased the regular non foaming,
Speaker 4: which is too viscous for the foaming dispenser. However, if
Speaker 4: you water it down to the ratio of one to five,
Speaker 4: which I believe is one part soap five parts water,
Speaker 4: it works perfectly fine. So instead of paying raugh flee
Speaker 4: two dollars sixty for twenty fifty mil, it's sixty cents.
Speaker 3: Oh she's smart, she's worked it out, Yes, and a
Speaker 3: game the system. She also said it's often half priced.
Speaker 2: There's a lot of soap conversation going on, a.
Speaker 4: Lot of soap conversations. Basically, when it's half priced, it's
Speaker 4: tho cents for That's so cool because I could.
Speaker 6: Only really lack foamy soap.
Speaker 4: But it's so much for.
Speaker 2: Me too normal.
Speaker 3: We are all just refilling our ASoP bottles at home,
Speaker 3: right like with Harliff.
Speaker 6: If I had an a bottle, I absolutely I know.
Speaker 1: Bottle.
Speaker 3: One time I got it as a present, people like
Speaker 3: I appreciated it so much. Someone for our engagement party
Speaker 3: gave me the ASoP hand cream and the soap together,
Speaker 3: and I remember my husband so like, he didn't get it.
Speaker 2: He's not a girl's girl. He was like, someone brought us.
Speaker 3: Soap for our birth for our engagement and I was like, Steve,
Speaker 3: that's literally one of the things I'm most excited about.
Speaker 3: And for our wedding one of my favorite presents, guys,
Speaker 3: I got a giant dip teak candle gorgeous. Like no,
Speaker 3: it's just this big candle in a ceramic part. You
Speaker 3: can get them at Mecca. They are so expensive. I
Speaker 3: would never purchase it, but it's now my prize possession
Speaker 3: and maybe like a year ago, I had an argument
Speaker 3: with my husband because he tried to light it. No
Speaker 3: oh those Oh no, that looks functional, sir, touch it,
Speaker 3: don't even ask what happens. Imagine if he'd actually lit it,
Speaker 3: would hands thrown? Absolutely not anyway, thank you for coming
Speaker 3: to my ted talk about that. But yeah, I am
Speaker 3: definitely refilling my pump dispenser with pamel if it's just
Speaker 3: live love laugh.
Speaker 2: I'm sorryutely, I really no.
Speaker 4: I love that this next one comes for myself obviously.
Speaker 4: Oh good, I found I happened upon this thing called
Speaker 4: first table.
Speaker 3: Oh yes, we've talked about first table before, but this
Speaker 3: is a very good broke tip. Did I no, no, no, okay,
Speaker 3: Jess and I have spoken about it years ago, so time,
Speaker 3: my god go back.
Speaker 2: That is crazy.
Speaker 4: I thought it was a new thing because also.
Speaker 2: What's first table?
Speaker 4: Oh sorry, okay, So I believe you can either use
Speaker 4: an Apple, you can go on your on just like
Speaker 4: any standard website and just type in first table and
Speaker 4: you'll have a look and there's like restaurants on there.
Speaker 4: Thinking it was new, I was like, it's not gonna
Speaker 4: be anything on it. But I was like, I'll go
Speaker 4: to Bruns. We can see what's up. There's so many
Speaker 4: restaurants that are offering first and last table, looking do
Speaker 4: the last one. You can also do last one only
Speaker 4: for some that must be new. Yeah, I think it's
Speaker 4: a new thing. So it's like, you know, you're four
Speaker 4: pms five pms of the world. Yeah, and you're eight
Speaker 4: pms of the world. Those two slots are fifty percent off.
Speaker 2: So that such a good deal.
Speaker 3: You can have a date on a budget at a
Speaker 3: restaurant that maybe was out of budget. Yes, eat dinner
Speaker 3: at five pm, home by like seven thirty. I agree
Speaker 3: in normal, iay with my book. I agree. It's actually
Speaker 3: a dream, and like that's not even mum in me.
Speaker 3: That's literally me being like, say less, Jessica, you're saying
Speaker 3: that we're home by seven thirty. I'm in bed like
Speaker 3: tucked up with my tiktoks at eight thirty.
Speaker 2: Oh, I know, I wanted to dream.
Speaker 4: The eating dinner late thing. I just don't get every
Speaker 4: and done with basically, but yes, you can do that,
Speaker 4: and so your dinner will be fifty percent off, So
Speaker 4: just jump on have a look, adore. Yeah, I love
Speaker 4: that and such a good idea.
Speaker 3: I feel like we eat dinner really late in my
Speaker 3: house and the reason is just because we're working. Yeah,
Speaker 3: that's like I get home at like six pm, my
Speaker 3: husband doesn't get home till after that. I've got a
Speaker 3: ratty baby, who's you know, needing bed, bath book like
Speaker 3: all of that, and you just go, we aren't eating
Speaker 3: till eight thirty.
Speaker 2: I need to get I need to get better at it.
Speaker 3: But yeah, maybe if we had lost stable, everything would
Speaker 3: be solved exactly. All right, guys, let's go to a
Speaker 3: really quick break because on the flip side, I want
Speaker 3: to dive into whether you should be super splitting if
Speaker 3: you're planning or retiring together anyway, like why would you bother?
Speaker 3: And something that just slid into our DMS about this week,
Speaker 3: we are talking about experiencing the motherhood penalty at work.
Speaker 2: So don't go anywhere. Welcome back, everybody.
Speaker 4: Let's take a listen to this week's money dilemma.
Speaker 3: Hi, there, have you got a money dilemma you just
Speaker 3: can't solve that. She's on the Money Team is here
Speaker 3: to help. Every week we tackle your dilemmas, both big
Speaker 3: and small, to answer your most burning money, career and
Speaker 3: life questions. To get involved, simply head to our website
Speaker 3: and leave us a short voice recording, and you might
Speaker 3: just find yourself on the show. Now, let's take a
Speaker 3: listen to this week's money dilemma.
Speaker 2: Hey, she's on the money.
Speaker 5: I just want to start by saying I've learned so
Speaker 5: much from the podcast, so thank you very much.
Speaker 2: Now I'm at the age.
Speaker 5: Where a lot of my female friends are taking career
Speaker 5: breaks to have kids, so I try and bring up
Speaker 5: what I've learned from the podcast about super splitting. But
Speaker 5: the main thing I'm hearing from people is, Oh, we're
Speaker 5: retiring together, so it really doesn't matter. I'd love to
Speaker 5: hear what you think about this way of thinking, because
Speaker 5: it seems to be like, really really common, and how
Speaker 5: do I get people to see that it actually does matter.
Speaker 5: Thanks so much.
Speaker 2: I feel like that was a good one. That's a
Speaker 2: good one.
Speaker 3: It was just throw you guys straight in the ring back, Jess,
Speaker 3: what do you reckon?
Speaker 4: I just think you never know what's going to happen.
Speaker 4: I understand that that's the goal when you enter into
Speaker 4: a life. An ideally lifelong partnership is that you will
Speaker 4: be together for the rest of your life. But anything
Speaker 4: it happened, and you could maybe you'll you know, Touch
Speaker 4: would either fall out of love, but nothing actually bad happens.
Speaker 4: You just like you both kind of go your separate ways,
Speaker 4: or someone doesn't mean bad or whatever. Like, there's so
Speaker 4: many things that could go wrong if you just hope
Speaker 4: and kind of rely on the I guess the fact
Speaker 4: that you might retire together.
Speaker 2: And so I think that, like.
Speaker 4: Life is long, you guys, the person who's speaking kind
Speaker 4: of sounds quite young. So I'm like, you and your
Speaker 4: friends probably have like forty years left of working before
Speaker 4: you tied together, and in that time, anything can happen,
Speaker 4: and you might get to a point. It's basically just like,
Speaker 4: if you get to a point where you are ready
Speaker 4: to retire and you're actually single for whatever reason, Touch
Speaker 4: would and you have nothing in your super or significantly
Speaker 4: less than what you could have had if you had
Speaker 4: split your super or whatever. I just I just think
Speaker 4: it's quite risky. It's too risky to not be doing that.
Speaker 4: And yeah, I mean as a pessimist by nature, Actually
Speaker 4: I don't know.
Speaker 2: If I am.
Speaker 3: Divorced back, yes, and the other fifty percent ended death, yes.
Speaker 2: And then and then the.
Speaker 4: Other alternative is that you are financially dependent on this person.
Speaker 4: You're like, no, I have to retire with this person
Speaker 4: because I unfortunately don't have enough of my SUPER. And
Speaker 4: so you're just for the remainder of your working years
Speaker 4: or the remainder of your you know, from retirement and
Speaker 4: beyond miserable. So you're either miserable, or you're still together, happy,
Speaker 4: or you're single. And I just think there's there there
Speaker 4: are a few different options, few different ways because this
Speaker 4: could play out. It's just way too risky, Yeah, to
Speaker 4: be relying on that totally. Just yeah, same page. I
Speaker 4: was just going to quickly define, maybe for anyone who
Speaker 4: didn't know. Super splitting is just the concept that if
Speaker 4: one partner stops working for a period of time or
Speaker 4: for the remainder of you know, their working days, rather
Speaker 4: than continuing to contribute to SUPER, which is something that
Speaker 4: we've kind of suggested historically, they rely on the fact that,
Speaker 4: you know, their partner will have access to their SUPER at.
Speaker 2: Sixty sixty five still yep, sixty.
Speaker 6: Five sixty five, and then they'll both live off of
Speaker 6: their partners super, which is problematic exactly as you were saying, Beck,
Speaker 6: because you know, you are not guaranteed anything over the
Speaker 6: course of however, many years, I think it probably just
Speaker 6: puts women disproportionately on the back foot. Yeah, particularly because
Speaker 6: women primarily statistically are the primary caregiver. It impacts, I
Speaker 6: would argue, more women than men. And I just don't
Speaker 6: like that it makes you reliant on somebody else. I
Speaker 6: have a friend whose grandparents got divorced at the age
Speaker 6: of black, maybe seventy. I don't actually know this specific day,
Speaker 6: but they were all they got divorced, and then they're
Speaker 6: dating other people now and if, oh my goodness, and
Speaker 6: you love I love to see it for the happy Yes,
Speaker 6: the dating tea is piping hot. But as I need
Speaker 6: to be added to this great chat immediately I said
Speaker 6: to it's really not. It's still you got you know
Speaker 6: what I mean, twenty five percent of your life hopefully
Speaker 6: left after that. I just don't like the idea of
Speaker 6: anyone having to stay in a situation because they're relying
Speaker 6: on somebody else, regardless of if it's super or something different.
Speaker 6: It gives me a little bit of the hebgbis makes.
Speaker 2: Me nervous totally. I am in agreeance with that.
Speaker 3: I think that all of those points we've made on
Speaker 3: the podcast before, but also is really important to bring
Speaker 3: up today. But then what I'm going to focus on
Speaker 3: is why should you do it? Even if you're retiring together.
Speaker 3: So let's pretend like you have lived, loved, laughed, and
Speaker 3: you are genuinely retiring together. There are benefits to doing so.
Speaker 3: So there are you know, tax benefits, so there are
Speaker 3: superanuation contribution caps. This is relatively unrelatable because the contribution
Speaker 3: cap for twenty three twenty four is actually one point
Speaker 3: nine million dollars and we know that not that many
Speaker 3: people actually have that amount in SUPER. But hypothetically, as
Speaker 3: a benefit, if you were getting close to that cap,
Speaker 3: you could transfer some of your SUPER to your partner's
Speaker 3: account so that you could continue to contribute to SUPER,
Speaker 3: which is very attractive. If you're dating an older person,
Speaker 3: what if they're older than you, you can transfer your
Speaker 3: SUPER to them to be able to access it early
Speaker 3: if you're planning on retiring early. That is often a
Speaker 3: strategy that is used. Because you were saying before Jess like,
Speaker 3: you can't access your superanuation until you are sixty five,
Speaker 3: and that's what's called a preservation age, and that's the
Speaker 3: age at which you can access your SUPER without any
Speaker 3: additional tax like implications, so you know, if you do
Speaker 3: it before, you can still access it, Like you could
Speaker 3: retire early at sixty, you're just paying a bit of
Speaker 3: tax to access that earlier, and that's not very sexy.
Speaker 3: So by using your partner's superanuation account and their preservation age,
Speaker 3: you could potentially access it earlier, and it might be
Speaker 3: useful if you guys want to retire a bit earlier,
Speaker 3: but you're a bit too young nice for some Obviously
Speaker 3: centlling benefits. So if you're eligible for the age pension,
Speaker 3: like super held by a partner under the age pension
Speaker 3: age is actually not counted as an asset because you
Speaker 3: can't access it. So like if you are both sixty five,
Speaker 3: they are going to take into consideration both of your supers,
Speaker 3: but if your partner is sixty, she can't access it
Speaker 3: or he can't access it. So if you wanted to
Speaker 3: make a cent link strategy, you could do so by
Speaker 3: working with a financial advisor to make sure that you're
Speaker 3: getting the full benefit of the aged pension. Obviously, by
Speaker 3: shifting your super younger partner, you might increase eligibility payments
Speaker 3: for the like for pension, but I think it's important
Speaker 3: to realize that, Like, obviously, if you're flushed with cash,
Speaker 3: doesn't matter how much you move, Like you're not going
Speaker 3: to get the age pension for free. Like we're talking
Speaker 3: about making the most of a situation because you're operating
Speaker 3: as a partner and essentially you're using two accounts but
Speaker 3: as a couple you have X and then maximizing contributions.
Speaker 3: So obviously by splitting contributions, you might actually increase how
Speaker 3: many non concessional contributions you can make, which is again sexy.
Speaker 3: But I won't keep going on because those are mainly
Speaker 3: tax questions. So if you're planning on doing that, talk
Speaker 3: to an account or talk to your financial advisor, because
Speaker 3: those are things that are probably a little bit more complex.
Speaker 3: Like these are just coming from financial or ex financial
Speaker 3: advisor Victoria. That's like, oh yeah, like I get the question,
Speaker 3: and like your response, Beck was perfect and so was yours.
Speaker 3: Just but like, from a pragmatic point of view, why
Speaker 3: would you do it? There are actually some tax benefits,
Speaker 3: pension benefits. Talking about centling not as sexy really important
Speaker 3: to understand.
Speaker 4: Yes, yes, and just I'm so sorry. One last thing,
Speaker 4: if you are going to tell your friends maybe to
Speaker 4: ask their partners. This is really really good to know,
Speaker 4: might be telling of their actual like how they maybe
Speaker 4: come to I don't.
Speaker 2: Know, but this could be a red flag.
Speaker 4: So tell your friends to just ask their partners and
Speaker 4: if their partner's like, no way would they do? That
Speaker 4: might be symptomatic of something bigger. Why are they not
Speaker 4: open to that? Have they not come into this agreement
Speaker 4: to have a child together? Do they just not think
Speaker 4: that women been financially independent is important? It opens up
Speaker 4: a whole other conversation. So tell them to just ask
Speaker 4: them anyway and see what their response is about splinting
Speaker 4: it or about making contribution? Yeah, splitting sorry, I should say,
Speaker 4: always a good conversation. It's a good conversation to have,
Speaker 4: and it might be it might show sides that you
Speaker 4: didn't know. Were there?
Speaker 2: No love? All right? Do you want to get into
Speaker 2: the DM we got this week? Guys? Yeah? You ready? Okay?
Speaker 3: Hi, she's on the money. What do you think about this?
Speaker 3: After my first babe, work was fine. I came back
Speaker 3: picked up where I left off and it was all good.
Speaker 3: But now after baby number two, it's a different story.
Speaker 3: I was leading big projects in line for a promotion
Speaker 3: and on track. But since I got back, it's like
Speaker 3: I don't exist. My role's been in quotation marks adjusted,
Speaker 3: aka all the boring admin no one wants to do.
Speaker 2: And my boss actually said they didn't.
Speaker 3: Want to overwhelm me now that I have two kids.
Speaker 3: What Meanwhile, my male colleagues, some who also just had babies,
Speaker 3: are getting more responsibility while I'm over here proving I
Speaker 3: can still do my whole job. Nothing about my skills
Speaker 3: have changed. But suddenly I'm being treated like I should
Speaker 3: have been grateful just to be here. I have gone
Speaker 3: back because we need the money, so I don't know
Speaker 3: what we should be doing. How do I deal with this? Well,
Speaker 3: i'd be offer especially if my male colleagues had baby.
Speaker 3: It's like when people are like, oh, yes, where's your baby,
Speaker 3: and it's like, why are you asking?
Speaker 2: How are your business?
Speaker 6: Sorry? Hey, v where's your baby? No pay should be
Speaker 6: penalized for having a child. It's predict I would argue
Speaker 6: that this sounds like it probably goes against a lot
Speaker 6: of fair work clauses.
Speaker 3: I would be calling like helor Melady, just like a
Speaker 3: little bit of advice.
Speaker 6: That would be my suggestion. I think we've had a
Speaker 6: few people overtime DMS various things about you know, being
Speaker 6: a parent, returning to the workforce, and I always say
Speaker 6: talk to Fair Work because there are regulations in place
Speaker 6: to protect you, particularly from taking time off to have
Speaker 6: a child. That's why parental pay exists, whether it's through
Speaker 6: a company, whether it's through the government. I would also
Speaker 6: review your contract, look at any information that might be
Speaker 6: particular to your role, if you had company based parental
Speaker 6: leaves that you used, because that might differ slightly from legislation.
Speaker 6: Doesn't overrule legislation necessarily, but it's good to know. And
Speaker 6: then yeah, jump on the Fairwork website. There's heaps of
Speaker 6: information available on there. Give them a call. Their team
Speaker 6: is super helpful. You know, they want to make sure
Speaker 6: that you're protected and looked after. But you should not
Speaker 6: be being penalized. It makes me really angry to hear
Speaker 6: that that's the case, because taking time off to have
Speaker 6: a child, taking time off for anything, really, it doesn't
Speaker 6: impact your ability to do good work. If anything, it's
Speaker 6: given you new skills, a new outlook, a new perspective,
Speaker 6: and I think to be penalized for that is just
Speaker 6: absolutely apparent. It makes me very like I'm getting angry.
Speaker 2: Can you actually it's actually so cooked right?
Speaker 3: Like it makes me really mad because I think since
Speaker 3: becoming a mum and I've only been here a year,
Speaker 3: thanks for having me, guys, I have found that I'm
Speaker 3: doing so much more in less time because I have
Speaker 3: this sense of urgency to return home more on time
Speaker 3: than ever. I want to be present for my son,
Speaker 3: I want to be around, I want to do all
Speaker 3: of the family things. But I'm very much like, okay, cool,
Speaker 3: I don't have time to mess around anymore. I'm going
Speaker 3: to spend this whole morning doing ABC DNE and I'm
Speaker 3: going to make it happen.
Speaker 4: Whereas before I.
Speaker 3: Might have been like, oh yeah, Jess, do you want
Speaker 3: to go get a coffee? And like in between like
Speaker 3: I was and I'm boss of my business. I was
Speaker 3: such an unproductive employee before, Like now I'm like, oh,
Speaker 3: hold on, I wasn't I operating like this before? So
Speaker 3: I feel like that makes a lot of sense for me.
Speaker 3: But then also there's research to back that that working
Speaker 3: mums are putting in more time, more energy, more effort
Speaker 3: and are definitely you know, running rings around people who
Speaker 3: maybe aren't parents, and we're being undervalued. I would be
Speaker 3: marching into my boss's office and being like, hey, like,
Speaker 3: I just.
Speaker 2: Wanted to flag this.
Speaker 3: I'm really feeling like because like we always lead with
Speaker 3: how we're feeling about a situation like this, I feel
Speaker 3: as though I'm not getting the responsibility back. But like
Speaker 3: Jerry over there, he just had a baby, literally same situation.
Speaker 3: He's actually got three kids and he has so I'm
Speaker 3: just wondering, like, what about it. Can I have some
Speaker 3: feedback because I think that that might be a very
Speaker 3: stuck reminder to them that maybe they are treating you differently.
Speaker 3: And I'm not going to say this is acceptable for
Speaker 3: any second of time, but the reality is sometimes this
Speaker 3: is subconscious and people are like, oh, we don't want
Speaker 3: to put that load on back, And then when Beck's like, hey,
Speaker 3: why wouldn't you do that for Jerry, they're like, oh, God,
Speaker 3: look what we're doing. Like we're doing exactly what we
Speaker 3: said we wouldn't. So yeah, go to fair Work if
Speaker 3: you feel like that's the support you need. But I
Speaker 3: would honestly be calling it out in your workplace first
Speaker 3: in a really kind and gentle way, like we don't
Speaker 3: need to be aggressive, Like hey, I was just wondering, like,
Speaker 3: when can I take on the full capability of my
Speaker 3: old role, because honestly, I'm really bored with this. That's
Speaker 3: not an issue, which is yeah where I'm at.
Speaker 4: Yeah, I completely agree. I was going to say the
Speaker 4: same thing basically, I would maybe and you know, I
Speaker 4: just want to I do want to say, like, it does
Speaker 4: suck that there are people that come into the same
Speaker 4: situation as someone else, and you know this situations look
Speaker 4: very similar, but one person, for absolutely no reason must
Speaker 4: fight or work harder to be acknowledged or recognized. That
Speaker 4: does suck. And so what I want to do is
Speaker 4: just like really do find out, like ask around and
Speaker 4: talk to these men who have come back from whatever,
Speaker 4: you know, parental evil, whatever, from having a childild and
Speaker 4: make sure that this is actually not not that it's
Speaker 4: not happening, but make sure there's a way where you
Speaker 4: can like come to the table and be like this
Speaker 4: person just had a baby, they are now being promoted
Speaker 4: all this person. You know, you have your facts ready,
Speaker 4: but yes, I would definitely talk about it first, because
Speaker 4: as you say it, like it's it's sometimes completely unconscious.
Speaker 2: You just have no idea and it's awful that that's happening.
Speaker 3: Ye, that might be the experience, and like just being like, oh,
Speaker 3: you wouldn't have done this for Jerry, would you is
Speaker 3: going to like hopefully snap them out of it and
Speaker 3: then they go, oh, yeah, no, Jess, You're so right,
Speaker 3: We're so like, you know, that must have been overlooked
Speaker 3: and they might not ever admit it. Like I kind
Speaker 3: of don't care if they don't admit it as long
Speaker 3: as they change their behavior for the bet totally.
Speaker 2: So do you want to know what the community had
Speaker 2: to say?
Speaker 4: Definitely, yeah, yeah, yeah, right.
Speaker 3: So we asked what would you do if you were
Speaker 3: in this position? Sixty four percent of you said you'd
Speaker 3: call it out and demand your old roll back. Six
Speaker 3: percent of you said work hard to prove yourself again,
Speaker 3: twenty eight percent said start job hunting. We asked, have
Speaker 3: you or someone you know experienced the motherhood penalty at work?
Speaker 3: Forty seven percent of you said I've seen it happen,
Speaker 3: twenty percent of you said it happened to me, and
Speaker 3: thirty four percent of you said no, my workplace is
Speaker 3: actually pretty supportive.
Speaker 6: Twenty two thirds of people is amazing.
Speaker 3: And then when you said, what are your two cents,
Speaker 3: We said, share your opinions. One person said, I'm three
Speaker 3: weeks back from eternity, leaving in an executive position, and
Speaker 3: I feel so much pressure to prove myself. Another person said, legally,
Speaker 3: she's entitled to return to a job with a similar
Speaker 3: level of responsibilities, which is true, but that doesn't mean
Speaker 3: that you get it because they might be misogynistic. Another
Speaker 3: person said, mine said the same to me, and I
Speaker 3: vengeance leveled up. Better to get out if you're not
Speaker 3: valued psychotic.
Speaker 2: I like that. I'm a vengeance level out of here. Bye.
Speaker 3: Someone else said I don't have kids and feel at
Speaker 3: my age I get penalized for this, expected to work
Speaker 3: extra hours, overtime, et cetera.
Speaker 2: That's a cool Yeah, women, you can't win. No oh.
Speaker 3: Someone else said I've had the opposite returning to work.
Speaker 3: We have a lack of flexibility with responsibilities, which is
Speaker 3: an interesting take as well. So I feel like that's
Speaker 3: all we've got time for today, so we might wrap
Speaker 3: it up there, but good chat, Happy International Women's Day, guys.
Speaker 3: So grateful to be part of this community and get
Speaker 3: to hang out with you guys all day and with
Speaker 3: my two co hosts, Jess and Beck.
Speaker 2: What a pleasure. I love it. We'll see you next week.
Speaker 6: Guys, Bye, guys bye.
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