1 00:00:00,200 --> 00:00:03,240 Speaker 1: My name's Tasha Bamblet. I'm a proud First Nations woman 2 00:00:03,600 --> 00:00:07,920 Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya 3 00:00:08,200 --> 00:00:11,400 Speaker 1: nianar Kaka yah y and beIN Ahaka nian our gay 4 00:00:11,440 --> 00:00:16,040 Speaker 1: In Mbini yakarum Jar, Dominyamka domaga Ithawaka woman, damon imlan 5 00:00:16,640 --> 00:00:19,520 Speaker 1: Bumba ban Gadabomba in and now in wakah ghan On 6 00:00:19,640 --> 00:00:24,319 Speaker 1: yak rum Jar water Nadaa. Hello, beautiful friends, we gather 7 00:00:24,400 --> 00:00:27,440 Speaker 1: on the lands of the Aboriginal people. We thank acknowledge 8 00:00:27,480 --> 00:00:30,120 Speaker 1: and respect the Aberiginal people's land that we're gathering on today. 9 00:00:30,680 --> 00:00:33,279 Speaker 1: Take pleasure in all the land and respect all that 10 00:00:33,320 --> 00:00:37,960 Speaker 1: you see. She's on the Money podcast acknowledges culture, country, 11 00:00:38,520 --> 00:00:43,720 Speaker 1: community and connections, bringing you the tools, knowledge and resources 12 00:00:43,920 --> 00:00:44,600 Speaker 1: for you to thrive. 13 00:00:45,080 --> 00:01:06,240 Speaker 2: She's on the Money. She's on the Money. 14 00:01:08,319 --> 00:01:11,120 Speaker 3: Hello and welcome to She's on the Money, the podcast 15 00:01:11,120 --> 00:01:15,680 Speaker 3: that makes personal finance fun especially get this on Fridays. WHOA, 16 00:01:16,000 --> 00:01:18,120 Speaker 3: we didn't see that coming. It's our favorite day of 17 00:01:18,120 --> 00:01:20,520 Speaker 3: the week because we get our little team together and 18 00:01:20,560 --> 00:01:23,839 Speaker 3: we celebrate you, our incredible She's on the Money Community 19 00:01:24,360 --> 00:01:27,760 Speaker 3: Muster GRICI. She's here as always sharing her money wins 20 00:01:27,760 --> 00:01:31,520 Speaker 3: and confessions. Beck is away, which is fine, but don't worry. 21 00:01:31,640 --> 00:01:34,119 Speaker 3: I have hustled up her broke tips to make sure 22 00:01:34,160 --> 00:01:36,319 Speaker 3: that I'm still sharing them on the show. For you guys, 23 00:01:36,640 --> 00:01:39,000 Speaker 3: we're going to be helping to answer money dilemma. That's 24 00:01:39,000 --> 00:01:41,280 Speaker 3: all about whether your money is better off in your 25 00:01:41,319 --> 00:01:45,320 Speaker 3: offset or in your shares account. And something you slid 26 00:01:45,319 --> 00:01:47,720 Speaker 3: into our dams about what do you do when you 27 00:01:47,760 --> 00:01:54,200 Speaker 3: think someone is lying about a parent's will? Ooh, that's spicy. Yeah, 28 00:01:55,000 --> 00:01:57,280 Speaker 3: how sometimes we're like, oh, the questions are spicy. No, 29 00:01:57,440 --> 00:02:02,600 Speaker 3: this week they're extra spicy because like awkward. Anyway, before 30 00:02:02,640 --> 00:02:05,080 Speaker 3: we get there, would you like to see a five 31 00:02:05,160 --> 00:02:08,080 Speaker 3: star review? Oh? Of course I would. This one is 32 00:02:08,120 --> 00:02:12,120 Speaker 3: from Lizzie and she says, I really enjoy the show's vibe. 33 00:02:12,880 --> 00:02:15,600 Speaker 3: That's so cute. Longtime listener of the show, and I've 34 00:02:15,600 --> 00:02:18,720 Speaker 3: been really enjoying the vibe of the three girls since 35 00:02:18,760 --> 00:02:21,600 Speaker 3: Beck came along. It feels like the show has found 36 00:02:21,600 --> 00:02:24,560 Speaker 3: its stride with three co hosts, and I'm really enjoying 37 00:02:24,600 --> 00:02:28,079 Speaker 3: the format. I love hearing Beck's perspective. She and Victoria 38 00:02:28,160 --> 00:02:30,639 Speaker 3: have great energy together, and I really like how Beck 39 00:02:30,720 --> 00:02:33,799 Speaker 3: represents the everyday person who might not have as much 40 00:02:33,840 --> 00:02:37,800 Speaker 3: financial knowledge. Really enjoyed the vibe of Friday episodes as well, 41 00:02:37,840 --> 00:02:40,400 Speaker 3: and hearing from the Three Ladies from She's on the Money, 42 00:02:40,600 --> 00:02:42,880 Speaker 3: keep up the great work, and please do some more 43 00:02:42,880 --> 00:02:46,080 Speaker 3: wedding and bridesmaid travel content. Please. Oh we'll far that 44 00:02:46,080 --> 00:02:48,440 Speaker 3: away for Leanna. We will. I feel like we need 45 00:02:48,440 --> 00:02:50,720 Speaker 3: to bring back the wedding era, but like, I'm not 46 00:02:50,760 --> 00:02:52,960 Speaker 3: going to have another wedding. I feel like so many 47 00:02:52,960 --> 00:02:55,560 Speaker 3: things in the industry have been changing, and like, what 48 00:02:55,720 --> 00:02:58,440 Speaker 3: is a budget wedding anymore? It feels like it doesn't exist. 49 00:02:58,480 --> 00:03:00,480 Speaker 3: Almost one of my friends is planning a wedding at 50 00:03:00,520 --> 00:03:02,840 Speaker 3: the moment, and she I would say, she has a 51 00:03:02,880 --> 00:03:05,360 Speaker 3: hefty budget, right, so like I'm not going to name names, 52 00:03:05,400 --> 00:03:08,840 Speaker 3: but her budget's about eighty thousand dollars. Oh wow, I 53 00:03:08,880 --> 00:03:11,040 Speaker 3: think that's a lot of money. That's a lot of money. 54 00:03:11,160 --> 00:03:14,440 Speaker 3: And the vendors are calling her wedding budget. Really yeah, 55 00:03:14,520 --> 00:03:16,480 Speaker 3: So she's like coming back to me like when they said, oh, 56 00:03:16,520 --> 00:03:18,120 Speaker 3: they'll do the budget, I was like, Queen, we have 57 00:03:18,160 --> 00:03:21,280 Speaker 3: a free budget spreadsheet on my website. Even downloaded it 58 00:03:21,320 --> 00:03:23,400 Speaker 3: and emailed it to her From my own website to 59 00:03:23,440 --> 00:03:25,679 Speaker 3: be like to do this, and like, because I'm such 60 00:03:25,680 --> 00:03:28,239 Speaker 3: a money fanatic and I love her, I'm like helping 61 00:03:28,280 --> 00:03:29,799 Speaker 3: along the way and thinking like, oh, well, this is 62 00:03:29,840 --> 00:03:31,400 Speaker 3: what we paid. All these are the quotes that we 63 00:03:31,520 --> 00:03:33,800 Speaker 3: got my quotes from like twenty twenty two. So whether 64 00:03:33,800 --> 00:03:35,480 Speaker 3: they are helpful or not, who knows, but it gives 65 00:03:35,520 --> 00:03:39,280 Speaker 3: you an idea. And like, anyway, she's showing me some 66 00:03:39,320 --> 00:03:41,160 Speaker 3: of the quotes that she's getting back, and like she's 67 00:03:41,200 --> 00:03:43,440 Speaker 3: sending off like, hey, we've got this venue, we want 68 00:03:43,480 --> 00:03:45,800 Speaker 3: some flowers, And like even the florist was like, oh, 69 00:03:45,800 --> 00:03:48,680 Speaker 3: well you're looking at it more of a budget spend. Wow, 70 00:03:49,000 --> 00:03:50,280 Speaker 3: what is is that? 71 00:03:50,400 --> 00:03:50,800 Speaker 4: Normal? 72 00:03:51,040 --> 00:03:54,960 Speaker 3: Mind boggling. I Like, don't get me wrong, I feel 73 00:03:54,960 --> 00:03:58,360 Speaker 3: like call a budget that shouldn't be offensive. No it's not. 74 00:03:58,520 --> 00:04:01,440 Speaker 3: But the way that their response as though they're too good. 75 00:04:01,480 --> 00:04:03,640 Speaker 3: They're like, oh, well you're sitting more as a budget client. 76 00:04:03,680 --> 00:04:06,400 Speaker 3: I'm like, eighty thousand dollars is so much money? Yeah, 77 00:04:06,440 --> 00:04:08,520 Speaker 3: and I mean that's not the floral's budget. But at 78 00:04:08,520 --> 00:04:11,520 Speaker 3: the same time, like, sorry, I'm giving you an amount, 79 00:04:11,560 --> 00:04:14,280 Speaker 3: which I think is actually the most reasonable way to 80 00:04:14,320 --> 00:04:16,200 Speaker 3: go about it, because like you could go and this 81 00:04:16,240 --> 00:04:18,200 Speaker 3: is just like so side noted, but you could go 82 00:04:18,240 --> 00:04:21,080 Speaker 3: and be like, well, I'm getting married, here's the venue. 83 00:04:21,279 --> 00:04:23,080 Speaker 3: Could you deck it out with flowers and tell me 84 00:04:23,120 --> 00:04:25,080 Speaker 3: what it will cost? And then they come back and go, well, 85 00:04:25,360 --> 00:04:27,160 Speaker 3: just that's going to be like fifteen thousand dollars and 86 00:04:27,160 --> 00:04:29,360 Speaker 3: you go, oh, well that's not in my budget. Yeah, 87 00:04:29,640 --> 00:04:32,520 Speaker 3: Like my friend is going to the vendors and saying, hey, 88 00:04:32,839 --> 00:04:35,680 Speaker 3: I have a budget of five thousand dollars for flowers, 89 00:04:35,760 --> 00:04:37,359 Speaker 3: could you tell me what you can do for that? 90 00:04:37,600 --> 00:04:40,080 Speaker 3: And I feel like that's really reasonable, like because then 91 00:04:40,120 --> 00:04:43,680 Speaker 3: you could say, well for that amount, we could xyz 92 00:04:43,960 --> 00:04:45,760 Speaker 3: ye or you might say, oh, we don't take on 93 00:04:45,839 --> 00:04:48,360 Speaker 3: clients at lab verbal. Okay, I still feel like that's 94 00:04:48,400 --> 00:04:51,240 Speaker 3: an examinant amount of money. But then also why make 95 00:04:51,279 --> 00:04:52,520 Speaker 3: comment I've heard. 96 00:04:52,320 --> 00:04:57,160 Speaker 5: The flowers are really expensive anecdotally anecdotally you also saw 97 00:04:57,279 --> 00:05:00,160 Speaker 5: my flowers invoice for my wedding. Yes, this is true, 98 00:05:00,839 --> 00:05:04,160 Speaker 5: and like I don't want people to compare themselves, but 99 00:05:04,200 --> 00:05:06,440 Speaker 5: like I spent a lot on flowers, and I would 100 00:05:06,480 --> 00:05:08,960 Speaker 5: I feel like so many times, like we're all going 101 00:05:09,000 --> 00:05:12,200 Speaker 5: on Pinterest and looking up our dream weddings and going well, 102 00:05:12,240 --> 00:05:14,840 Speaker 5: I've got an eighty thousand dollar wedding budget and that's massive, 103 00:05:14,960 --> 00:05:17,559 Speaker 5: don't get me wrong. But the weddings that you're seeing 104 00:05:17,560 --> 00:05:20,599 Speaker 5: on Pinterest are more than one hundred thousand dollars every 105 00:05:20,640 --> 00:05:23,240 Speaker 5: single time. Yeah, so we actually have to peg back 106 00:05:23,240 --> 00:05:27,279 Speaker 5: our expectations based on what the Pinterest reality is versus 107 00:05:27,480 --> 00:05:28,200 Speaker 5: in real life. 108 00:05:28,279 --> 00:05:30,800 Speaker 3: Absolutely, But anyway, that's a complete side note. Thank you 109 00:05:30,880 --> 00:05:33,200 Speaker 3: so much for that review, Lizzie. I love it. Also. 110 00:05:33,560 --> 00:05:36,400 Speaker 3: I love that she's like love Beck and we're like yep. 111 00:05:36,480 --> 00:05:39,039 Speaker 3: So she's not here today, Sorry about that. Sorry, she 112 00:05:39,120 --> 00:05:42,040 Speaker 3: will be back though. She's the people's printer. She absolutely is, 113 00:05:42,080 --> 00:05:44,320 Speaker 3: and I couldn't agree more. Anyway, it is time for 114 00:05:44,400 --> 00:05:46,800 Speaker 3: my favorite part and we'll speed through this. But tomorrow, 115 00:05:46,839 --> 00:05:48,800 Speaker 3: do not worry. I will make sure that I get 116 00:05:48,800 --> 00:05:51,720 Speaker 3: a full and comprehensive answer out of Jess. This is 117 00:05:51,760 --> 00:05:53,839 Speaker 3: the part of the show where you get to ask 118 00:05:53,960 --> 00:05:56,039 Speaker 3: us one question that you were dying to know. It 119 00:05:56,080 --> 00:05:58,440 Speaker 3: can be about literally anything, and tomorrow this week has 120 00:05:58,480 --> 00:06:03,560 Speaker 3: asked Jess, what is your dream holiday? Oh that's so hard. 121 00:06:03,600 --> 00:06:05,919 Speaker 3: Do you want to go first? Yep? I already know 122 00:06:05,960 --> 00:06:07,680 Speaker 3: I want to leave that hotel. I think it's in 123 00:06:07,760 --> 00:06:11,120 Speaker 3: South Africa where the giraffes put their head through the window. Oh, 124 00:06:11,160 --> 00:06:13,880 Speaker 3: I would love you what I'm talking about? Yes, and 125 00:06:14,000 --> 00:06:16,479 Speaker 3: you have breakfast and the giraffes are at the window. Yeah, 126 00:06:16,480 --> 00:06:19,640 Speaker 3: it's a wildlife preserve. Yeah sure it's not dodgy. Yeah, 127 00:06:19,760 --> 00:06:22,240 Speaker 3: it's like all of their animals have been rescued and 128 00:06:22,360 --> 00:06:25,520 Speaker 3: really well looked after. But you can have breakfast with 129 00:06:25,560 --> 00:06:28,080 Speaker 3: a giraffe. Yeah, that would be Sorry, that's my dream 130 00:06:28,120 --> 00:06:30,560 Speaker 3: holiday and I want my kids to be old enough 131 00:06:30,600 --> 00:06:32,880 Speaker 3: to remember it, so like I can't have it right 132 00:06:32,920 --> 00:06:35,240 Speaker 3: now because like if I took Toddler's that would not 133 00:06:35,320 --> 00:06:38,240 Speaker 3: be ideal. Then I going to remember. Sorry, you don't 134 00:06:38,240 --> 00:06:39,400 Speaker 3: deserve that experience yet. 135 00:06:39,440 --> 00:06:41,480 Speaker 5: For me, you need to be five plus years old 136 00:06:41,560 --> 00:06:44,720 Speaker 5: for it's got to become a core memory. What about you? 137 00:06:44,760 --> 00:06:46,760 Speaker 5: Are you coming with me? I would love to come 138 00:06:46,760 --> 00:06:49,080 Speaker 5: with you. You guys know I love to travel there. 139 00:06:49,880 --> 00:06:51,640 Speaker 5: I couldn't even just tell you one dream holiday. 140 00:06:51,680 --> 00:06:53,520 Speaker 3: There are so so, so. 141 00:06:53,240 --> 00:06:55,680 Speaker 5: So many places I would love to go, like everywhere, 142 00:06:55,720 --> 00:06:57,440 Speaker 5: from places close by like Thailand too. 143 00:06:57,520 --> 00:06:59,680 Speaker 3: I want to go to Antarctica. One day. When I 144 00:06:59,720 --> 00:07:01,920 Speaker 3: was young, I had this little goal. Look, I was 145 00:07:01,920 --> 00:07:02,280 Speaker 3: a huge guy. 146 00:07:02,279 --> 00:07:03,480 Speaker 5: I don't think I'll ever achieve it, but I was like, 147 00:07:03,480 --> 00:07:05,159 Speaker 5: I'd love to visit every country in the world. 148 00:07:05,839 --> 00:07:07,360 Speaker 3: Obviously very difficult to achieve. 149 00:07:07,400 --> 00:07:09,120 Speaker 5: Some of them you actually can't get too because there's 150 00:07:09,120 --> 00:07:11,080 Speaker 5: they're remote, so maybe not very practical. 151 00:07:11,160 --> 00:07:13,040 Speaker 3: But I love going new places. 152 00:07:13,080 --> 00:07:14,560 Speaker 5: I would like to do more of Europe I haven't 153 00:07:14,560 --> 00:07:17,720 Speaker 5: done much, Like I love being outdoors. I'd love to 154 00:07:17,760 --> 00:07:22,080 Speaker 5: do like the Swiss Alps and are beautiful. Yeah, like 155 00:07:22,120 --> 00:07:26,960 Speaker 5: all of those really scenic, beautiful places. But honestly, anywhere 156 00:07:27,040 --> 00:07:28,520 Speaker 5: I would be happy to put me on a plane 157 00:07:28,560 --> 00:07:31,480 Speaker 5: and send me literally anywhere, and I would be over 158 00:07:31,520 --> 00:07:31,760 Speaker 5: the moon. 159 00:07:31,920 --> 00:07:34,040 Speaker 3: Is there like a middle ground tour? Right? So like 160 00:07:34,320 --> 00:07:36,360 Speaker 3: when we were younger, Jess, I think that the like 161 00:07:36,480 --> 00:07:39,400 Speaker 3: top Deck and Kentiqui tours really appealed to us. Yeah, 162 00:07:39,480 --> 00:07:43,080 Speaker 3: we're like cool, single life, like it doesn't matter, happy 163 00:07:43,120 --> 00:07:44,960 Speaker 3: to be on a bus, happy to be in a hostel. 164 00:07:45,040 --> 00:07:47,320 Speaker 3: To do a few of those. Yeah, yeah, they're the same, same, 165 00:07:47,480 --> 00:07:49,360 Speaker 3: and I loved it at the time, but I cannot 166 00:07:49,400 --> 00:07:53,080 Speaker 3: imagine anything worse right now in this season of my life. Yeah, 167 00:07:53,120 --> 00:07:55,280 Speaker 3: and then on the flip side, there's like the older 168 00:07:55,560 --> 00:07:58,520 Speaker 3: you know, retiree tours above fifty fives. They go on 169 00:07:58,640 --> 00:08:01,640 Speaker 3: like the luxury tour buses and they stay at nice hotels. 170 00:08:01,840 --> 00:08:06,240 Speaker 3: Where's the middle ground? That's steady five year olds me 171 00:08:06,680 --> 00:08:09,200 Speaker 3: who love to travel, who love to travel but don't 172 00:08:09,240 --> 00:08:11,680 Speaker 3: want to do the like, happy to do budget accommodation, 173 00:08:11,800 --> 00:08:14,520 Speaker 3: but probably not hostel. We don't want to be on 174 00:08:14,560 --> 00:08:17,280 Speaker 3: a bus without air conditioning. We have maybe a little 175 00:08:17,320 --> 00:08:21,120 Speaker 3: bit more of a budget, but want the tour curated 176 00:08:21,200 --> 00:08:23,440 Speaker 3: for them? That is a great. 177 00:08:23,200 --> 00:08:26,600 Speaker 5: Question, actually, because also that your continues and top decks 178 00:08:26,640 --> 00:08:28,560 Speaker 5: cap out at I think about thirty five. 179 00:08:28,640 --> 00:08:30,080 Speaker 3: So if you're like if you get lead out when 180 00:08:30,080 --> 00:08:30,520 Speaker 3: you're too. 181 00:08:30,440 --> 00:08:33,400 Speaker 5: Old, yeah, like if you're slightly later in your thirties, 182 00:08:34,000 --> 00:08:35,600 Speaker 5: you like can't qualify for them anyway. 183 00:08:35,640 --> 00:08:37,600 Speaker 3: And I mean even if you could, as you, I 184 00:08:37,600 --> 00:08:39,600 Speaker 3: don't want to be on them. I can't do the 185 00:08:39,640 --> 00:08:41,640 Speaker 3: four days straight how over on a bus anymore? Like, Okay, 186 00:08:42,000 --> 00:08:43,600 Speaker 3: where are the people who want to get up at 187 00:08:43,640 --> 00:08:46,360 Speaker 3: six do the tour, go for the walks, you know, 188 00:08:46,480 --> 00:08:48,959 Speaker 3: get a coffee and a croissant, and we've got coffee 189 00:08:48,960 --> 00:08:51,679 Speaker 3: and croissant money this time. Yeah, and then we all 190 00:08:51,720 --> 00:08:53,480 Speaker 3: want to be back to our hotel by eight because 191 00:08:53,480 --> 00:08:55,160 Speaker 3: we all have really good books on our kindle that 192 00:08:55,200 --> 00:08:55,760 Speaker 3: we want to read. 193 00:08:56,040 --> 00:08:56,199 Speaker 6: That. 194 00:08:56,480 --> 00:08:59,080 Speaker 3: Literally, if anyone's got any tiads, let me know. I mean, 195 00:08:59,200 --> 00:09:01,640 Speaker 3: I'm not going on the mum and I'm married, but 196 00:09:01,800 --> 00:09:04,200 Speaker 3: like that, maybe I could get my husband to let 197 00:09:04,240 --> 00:09:05,480 Speaker 3: me go for a week or two. We would go, 198 00:09:05,559 --> 00:09:07,840 Speaker 3: wouldn't we, Jess? Literally, that sounds so fun. Maybe you 199 00:09:07,920 --> 00:09:09,560 Speaker 3: just go on a two row on our own. It'll 200 00:09:09,559 --> 00:09:12,320 Speaker 3: be fine. We'll make eron tour. We also want to 201 00:09:12,320 --> 00:09:15,400 Speaker 3: make more friends. Yeah, that's true. Anyway, let's move on, 202 00:09:15,600 --> 00:09:18,840 Speaker 3: miss Jess Gricci. What are your community money wins this week? Already? 203 00:09:18,920 --> 00:09:19,199 Speaker 3: This week? 204 00:09:19,240 --> 00:09:21,400 Speaker 5: First they've got one from Suzanne who said she just 205 00:09:21,400 --> 00:09:24,240 Speaker 5: fished house sitting for somebody and the owner gave her 206 00:09:24,240 --> 00:09:26,920 Speaker 5: an extra payment because they thought she was under charging. 207 00:09:27,400 --> 00:09:29,600 Speaker 3: Oh how good is that? I feel like that never happens. 208 00:09:29,760 --> 00:09:31,920 Speaker 3: I think that's really sweet as you have it in 209 00:09:31,960 --> 00:09:34,719 Speaker 3: your budget and you think that that's reasonable. What a 210 00:09:34,760 --> 00:09:37,040 Speaker 3: way to make somebody's week. Absolutely. 211 00:09:37,240 --> 00:09:39,360 Speaker 5: She also bought a bunch of peenies this morning and 212 00:09:39,400 --> 00:09:41,079 Speaker 5: went to pick one up from the display. One of 213 00:09:41,120 --> 00:09:43,559 Speaker 5: the stuff offered her a larger bunch at no extra cost, 214 00:09:43,559 --> 00:09:46,000 Speaker 5: which I thought was also very sweet adore and I you. 215 00:09:45,960 --> 00:09:46,920 Speaker 3: Do love a peenie. 216 00:09:47,160 --> 00:09:49,200 Speaker 5: Next, I've got a money win from Kim, who said 217 00:09:49,200 --> 00:09:52,000 Speaker 5: a bank erar worked in her favor. Their former mortgage 218 00:09:52,040 --> 00:09:55,320 Speaker 5: linder had not executed their instructions to link a second 219 00:09:55,320 --> 00:09:59,000 Speaker 5: offset and are making a remediation payment for interest for gone, 220 00:09:59,120 --> 00:10:01,400 Speaker 5: so they've got a nice little check coming their way. 221 00:10:01,760 --> 00:10:04,160 Speaker 5: Apparently the bank realized this on their own and sent 222 00:10:04,240 --> 00:10:06,440 Speaker 5: an email out which they originally thought was a scam, 223 00:10:06,520 --> 00:10:09,160 Speaker 5: but she verified it through the bank directly and it's 224 00:10:09,200 --> 00:10:09,760 Speaker 5: all kosher. 225 00:10:09,960 --> 00:10:10,600 Speaker 3: Oh love. 226 00:10:11,200 --> 00:10:13,240 Speaker 5: Next, I've got a money win from Debby, who said 227 00:10:13,240 --> 00:10:15,360 Speaker 5: she was overseas and had to change her flights. She 228 00:10:15,440 --> 00:10:17,800 Speaker 5: talked to the agent and I assume was very kind 229 00:10:17,840 --> 00:10:21,640 Speaker 5: about it, and the agent waived the change fees ah adoor, 230 00:10:21,840 --> 00:10:24,120 Speaker 5: which is really really good. We've done it before. Someone 231 00:10:24,160 --> 00:10:26,599 Speaker 5: at the Virgin Lounge helped us out and waved the 232 00:10:26,640 --> 00:10:29,040 Speaker 5: fees for us once, and honestly, when you're so stressed 233 00:10:29,120 --> 00:10:32,400 Speaker 5: and emotional, someone doing that for you makes such a 234 00:10:32,440 --> 00:10:36,440 Speaker 5: big difference. Then I've got a money win from Mim, 235 00:10:36,480 --> 00:10:39,560 Speaker 5: who said she's been patiently stalking Facebook marketplace the baby 236 00:10:39,640 --> 00:10:42,640 Speaker 5: stuff in prep for her impending arrival, and has gotten 237 00:10:42,720 --> 00:10:46,760 Speaker 5: some complete bargains. This week's score was a cot which 238 00:10:46,800 --> 00:10:49,240 Speaker 5: retailed for four hundred and fifty dollars that she snagged 239 00:10:49,240 --> 00:10:53,880 Speaker 5: for two hundred and fifty money wooding, the mattress, mattress protector, 240 00:10:54,080 --> 00:10:56,600 Speaker 5: and several hundred dollars worth of a Dare's cot bedding. 241 00:10:56,840 --> 00:10:59,040 Speaker 5: Oh stop her, she said, if you're bloody, don't mind. 242 00:10:59,200 --> 00:11:03,120 Speaker 5: And I say, good, you miminously. 243 00:11:02,080 --> 00:11:05,440 Speaker 3: And kids don't use it. Like, don't get me wrong, Yes, 244 00:11:05,480 --> 00:11:08,440 Speaker 3: you want nice quality stuff. And I did this with 245 00:11:08,559 --> 00:11:10,880 Speaker 3: my first baby, where I was like, oh, I'll buy 246 00:11:10,880 --> 00:11:12,800 Speaker 3: some stuff or marketplace because like I was trying to 247 00:11:12,840 --> 00:11:14,600 Speaker 3: just make sure that it was being reasonable with the 248 00:11:14,600 --> 00:11:17,160 Speaker 3: purchases I'm making. But then you're like, well I want 249 00:11:17,160 --> 00:11:19,920 Speaker 3: them to be brand new. Sorry. How many cock sheets 250 00:11:19,920 --> 00:11:21,120 Speaker 3: did I buy and I haven't used? 251 00:11:21,200 --> 00:11:21,400 Speaker 1: Yeah? 252 00:11:21,559 --> 00:11:24,559 Speaker 3: Like how many onesies did I buy? That then ultimately 253 00:11:24,600 --> 00:11:27,120 Speaker 3: got either one use or no uses because they grow 254 00:11:27,160 --> 00:11:30,920 Speaker 3: so quickly. You can find bundles online pop off queen 255 00:11:31,280 --> 00:11:33,720 Speaker 3: and you know what, and probably sell it again for 256 00:11:33,800 --> 00:11:34,959 Speaker 3: what you paid for it. 257 00:11:35,040 --> 00:11:38,240 Speaker 5: We love it a little circular economy moment. And then 258 00:11:38,600 --> 00:11:42,000 Speaker 5: lastly this week. I've got a money win from Wonder, 259 00:11:42,040 --> 00:11:44,199 Speaker 5: who said she realized she was regularly buying a sugar 260 00:11:44,240 --> 00:11:46,800 Speaker 5: free drink from vending machines, spending two dollars six feet 261 00:11:46,840 --> 00:11:49,320 Speaker 5: a time. Checked the cost of buying a carton of 262 00:11:49,360 --> 00:11:51,280 Speaker 5: cans at the supermarket and it's twenty one dollars for 263 00:11:51,320 --> 00:11:53,760 Speaker 5: twenty four cans. She said she now just needs to 264 00:11:53,760 --> 00:11:56,040 Speaker 5: figure out a way to defeat her ADHD brain to 265 00:11:56,160 --> 00:11:58,480 Speaker 5: ensure she can take the cans to work and she'll 266 00:11:58,520 --> 00:11:59,880 Speaker 5: be coming out way ahead. 267 00:12:00,240 --> 00:12:03,560 Speaker 3: Adore, adore, And I feel like that's such a smart 268 00:12:03,600 --> 00:12:06,440 Speaker 3: like swap. You're still getting your sweet tree. Yes, you're 269 00:12:06,480 --> 00:12:08,600 Speaker 3: just being a little bit smarter about it. And maybe 270 00:12:08,760 --> 00:12:10,559 Speaker 3: keep a stash at work, because there's no way I'd 271 00:12:10,640 --> 00:12:12,719 Speaker 3: remember every single day to bring my sweet treat. Yeah, 272 00:12:12,800 --> 00:12:14,680 Speaker 3: claims the room in the work freedge if you can, Yeah, 273 00:12:14,760 --> 00:12:16,520 Speaker 3: or like even keep a couple in the bottom of 274 00:12:16,520 --> 00:12:18,480 Speaker 3: your drawer so that you can like pop them in 275 00:12:18,480 --> 00:12:20,240 Speaker 3: the fridge or the like the freezer for an hour 276 00:12:20,280 --> 00:12:22,600 Speaker 3: before you have it. Yeah, I don't know. Would you 277 00:12:22,720 --> 00:12:25,040 Speaker 3: like bex broke tips? I hope I can do them justice. 278 00:12:25,120 --> 00:12:27,480 Speaker 5: Oh, of course, you need to bring the appropriate amount 279 00:12:27,520 --> 00:12:28,440 Speaker 5: of whimsy if possible. 280 00:12:28,440 --> 00:12:30,959 Speaker 3: All Right, I'm trying. I'm trying to channel my inner 281 00:12:30,960 --> 00:12:33,360 Speaker 3: cool girl. I fear I will never be as cool 282 00:12:33,400 --> 00:12:36,640 Speaker 3: as beck though, so please just just pretend for a 283 00:12:36,640 --> 00:12:39,160 Speaker 3: hot second, give me the benefit of the doubt, all right. 284 00:12:39,440 --> 00:12:41,960 Speaker 3: First one, this comes from her friend, and I say 285 00:12:41,960 --> 00:12:44,680 Speaker 3: friend just because they slid into her dams Anita. Everyone 286 00:12:44,720 --> 00:12:47,160 Speaker 3: at work was throwing their ten scent cans in the bin, 287 00:12:47,600 --> 00:12:50,320 Speaker 3: so I made a ten cent can box and I 288 00:12:50,360 --> 00:12:53,520 Speaker 3: collected all my coworkers' cans too. That's so clever. 289 00:12:53,720 --> 00:12:55,760 Speaker 5: I said before our old office that we should do 290 00:12:55,760 --> 00:12:57,560 Speaker 5: the same, because I always saw cans in the recycling 291 00:12:57,600 --> 00:12:59,640 Speaker 5: bin and I was like, that's free ten censors. 292 00:13:00,120 --> 00:13:03,560 Speaker 3: Honestly, put a bin beside the bin. People will use it, 293 00:13:04,280 --> 00:13:07,000 Speaker 3: take it home. Why not make the system work for you. 294 00:13:07,000 --> 00:13:09,199 Speaker 3: You don't have to work for the system, all right. 295 00:13:09,280 --> 00:13:12,120 Speaker 3: Next person who slid into Becks DMS this week was 296 00:13:12,120 --> 00:13:14,800 Speaker 3: a lessier, and she said, instead of paying a dollar 297 00:13:14,840 --> 00:13:17,640 Speaker 3: thirty to have one teaspoon of sour cream added to 298 00:13:17,679 --> 00:13:20,959 Speaker 3: your gig order, stop by Audi and get yourself a 299 00:13:21,000 --> 00:13:23,440 Speaker 3: three dollar small tub to use for the next ten meals. 300 00:13:23,800 --> 00:13:26,200 Speaker 3: I mean, the story tracks I can't keep that in 301 00:13:26,240 --> 00:13:28,920 Speaker 3: the center console of my Carlo, Babe, that is the 302 00:13:28,960 --> 00:13:32,360 Speaker 3: only problem. Yeah, I feel like one of the things 303 00:13:32,360 --> 00:13:34,640 Speaker 3: that I did the other day, and this wasn't at gig. 304 00:13:34,840 --> 00:13:37,960 Speaker 3: This was at Salsers, and I love a Salcer's burrito bowl. 305 00:13:38,440 --> 00:13:41,280 Speaker 3: I went for the other burrito bowl that had the 306 00:13:41,360 --> 00:13:44,000 Speaker 3: guoc and then removed a couple of things and it 307 00:13:44,080 --> 00:13:47,720 Speaker 3: ended up being cheaper than ordering the more simple bowl 308 00:13:47,800 --> 00:13:50,240 Speaker 3: and adding Guok. Oh, that's a good hack. I don't 309 00:13:50,240 --> 00:13:51,800 Speaker 3: know if it was a good hack, but like the 310 00:13:51,840 --> 00:13:54,400 Speaker 3: girl was probably like, why don't you just order the 311 00:13:54,440 --> 00:13:57,040 Speaker 3: other one? And I'm thinking, can you not see the savings, bab, 312 00:13:57,160 --> 00:14:00,920 Speaker 3: It's it cheaper exactly anyway? And so then Beck said 313 00:14:01,520 --> 00:14:04,520 Speaker 3: thee I need you to tell everybody stop buying individual 314 00:14:04,640 --> 00:14:06,760 Speaker 3: chicken pieces and learn how to break down a whole 315 00:14:06,880 --> 00:14:09,760 Speaker 3: chicken if you're able to. It's about nine dollars at 316 00:14:09,800 --> 00:14:14,000 Speaker 3: the supermarket for a two kilogram chicken, all the same 317 00:14:14,280 --> 00:14:16,960 Speaker 3: for two pieces. If you don't like cutting it down, 318 00:14:17,040 --> 00:14:19,160 Speaker 3: roast a whole one and then strip it after it's 319 00:14:19,200 --> 00:14:20,000 Speaker 3: been cooked. 320 00:14:20,280 --> 00:14:23,200 Speaker 5: That actually is a great point now that I'm thinking 321 00:14:23,240 --> 00:14:24,880 Speaker 5: about it, because you do pay a lot for like 322 00:14:24,880 --> 00:14:26,280 Speaker 5: a two pack of chicken breast. 323 00:14:26,160 --> 00:14:29,680 Speaker 3: One hundred percent, and I feel like you can just 324 00:14:29,800 --> 00:14:32,680 Speaker 3: embrace You're in a I don't know what is it 325 00:14:32,760 --> 00:14:37,760 Speaker 3: like wish, homestead, cottage, core vibe buying a whole chicken. Sorry, 326 00:14:37,800 --> 00:14:40,960 Speaker 3: you get two full chicken breasts, two chicken tenders, two 327 00:14:41,040 --> 00:14:44,760 Speaker 3: chicken drumsticks, two chicken wings. Sorry, that's like a number 328 00:14:44,760 --> 00:14:47,320 Speaker 3: of different meals. Absolutely, and you get the skim, which 329 00:14:47,360 --> 00:14:49,120 Speaker 3: is the best bit. Also, if you want to be 330 00:14:49,200 --> 00:14:51,200 Speaker 3: a little bit more sneaky, I think a whole roast 331 00:14:51,240 --> 00:14:54,200 Speaker 3: chicken is twelve dollars or so threty cooked for you 332 00:14:54,280 --> 00:14:56,720 Speaker 3: roast chicken or shoen it all up, use it in 333 00:14:56,760 --> 00:15:01,160 Speaker 3: your meals. Yeah, genius. Also find out in your supermarket 334 00:15:01,280 --> 00:15:04,280 Speaker 3: marks things down and then go get your five dollar chicken. 335 00:15:04,400 --> 00:15:06,200 Speaker 3: Hop it in a fridge. She's good for a few days. 336 00:15:06,240 --> 00:15:08,520 Speaker 3: All right, let's go to a break because I'd really 337 00:15:08,640 --> 00:15:11,960 Speaker 3: like chicken. But after the break, we're gonna have a 338 00:15:12,040 --> 00:15:14,200 Speaker 3: chat about whether it's better to put cash into your 339 00:15:14,200 --> 00:15:16,920 Speaker 3: offset or into your shares. And then we are also 340 00:15:17,000 --> 00:15:19,520 Speaker 3: chatting about something you slid into our DMS with. What 341 00:15:19,640 --> 00:15:21,920 Speaker 3: do you do when you think someone is lying about 342 00:15:21,960 --> 00:15:25,120 Speaker 3: your parents' will. Oh my gosh, Spicy, don't go anywhere. 343 00:15:29,120 --> 00:15:31,640 Speaker 3: Welcome back, everybody. Let's take a listen to this week's 344 00:15:31,640 --> 00:15:32,360 Speaker 3: money dilemma. 345 00:15:34,320 --> 00:15:36,680 Speaker 4: Hi, there, have you got a money dilemma you just 346 00:15:36,760 --> 00:15:39,280 Speaker 4: can't solve? The She's on the Money team is here 347 00:15:39,280 --> 00:15:42,520 Speaker 4: to help. Every week we tackle your dilemmas, both big 348 00:15:42,600 --> 00:15:45,280 Speaker 4: and small, to answer your most burning money, career and 349 00:15:45,360 --> 00:15:48,560 Speaker 4: life questions. To get involved, simply head to our website 350 00:15:48,560 --> 00:15:50,680 Speaker 4: and leave us a short voice recording and you might 351 00:15:50,760 --> 00:15:53,280 Speaker 4: just find yourself on the show. Now, let's take a 352 00:15:53,320 --> 00:15:55,120 Speaker 4: listen to this week's money dilemma. 353 00:15:57,920 --> 00:15:59,720 Speaker 6: Hi, She's on the Money. Thank you so much for 354 00:15:59,720 --> 00:16:02,040 Speaker 6: all of your episodes so far. I feel so much 355 00:16:02,080 --> 00:16:04,200 Speaker 6: more empowered around money. Thanks for listening to you guys. 356 00:16:04,240 --> 00:16:07,680 Speaker 6: It's such an accessible information port. I guess I just 357 00:16:07,720 --> 00:16:08,880 Speaker 6: have a question about shares. 358 00:16:09,160 --> 00:16:10,280 Speaker 3: So I have a. 359 00:16:09,960 --> 00:16:12,920 Speaker 6: Mortgage that is about eight hundred and fifty thousand dollars, 360 00:16:13,000 --> 00:16:14,840 Speaker 6: and we have an offset account which is about eighty 361 00:16:14,840 --> 00:16:17,960 Speaker 6: thousand dollars, and I don't know whether it's worth taking 362 00:16:18,000 --> 00:16:20,080 Speaker 6: some money out of that offset account to buy shares. 363 00:16:20,600 --> 00:16:23,840 Speaker 6: I'm quite risk averse in nature, so shar is kind 364 00:16:23,840 --> 00:16:26,400 Speaker 6: of scammy but I also like want to do what's 365 00:16:26,440 --> 00:16:29,520 Speaker 6: best for us financially for sort of long term wealth, 366 00:16:29,600 --> 00:16:31,440 Speaker 6: So I don't know if it's better to just put 367 00:16:31,480 --> 00:16:33,280 Speaker 6: a portion of that into shares or just keep it 368 00:16:33,320 --> 00:16:34,440 Speaker 6: all in the offset account. 369 00:16:34,520 --> 00:16:36,640 Speaker 3: Thank you so much. Oh my gosh, do you sound 370 00:16:36,720 --> 00:16:40,120 Speaker 3: so happy and joyful and we're talking about money. When 371 00:16:40,160 --> 00:16:43,440 Speaker 3: did we think those two things will be married together? Literally? Never? 372 00:16:43,640 --> 00:16:46,320 Speaker 3: That's a great question. All right, Jess, you've got a mortgage, 373 00:16:46,680 --> 00:16:50,440 Speaker 3: ha ha, tell me shares or mortgage? 374 00:16:50,480 --> 00:16:52,400 Speaker 5: Well right now, because we're in the process of the build, 375 00:16:52,440 --> 00:16:57,000 Speaker 5: I'm not paying like a full mortgage, so I pretend yes, 376 00:16:57,120 --> 00:16:59,720 Speaker 5: okay for me, I put my emergency fund and like 377 00:17:00,080 --> 00:17:03,800 Speaker 5: access funds into my offsets, so like any bulk money, 378 00:17:04,200 --> 00:17:07,000 Speaker 5: money that I might need quick access to, and then 379 00:17:07,000 --> 00:17:09,280 Speaker 5: I have a set amount that I invest every month. 380 00:17:09,359 --> 00:17:11,800 Speaker 5: If I was our listener and I had eighty thousand 381 00:17:11,800 --> 00:17:14,000 Speaker 5: sitting in my offset, I would be comparing, as I 382 00:17:14,080 --> 00:17:14,760 Speaker 5: always say. 383 00:17:14,600 --> 00:17:16,760 Speaker 3: Compare what your mortgage rate is. 384 00:17:16,920 --> 00:17:18,720 Speaker 5: Whatever your rate is, have a look at that, have 385 00:17:18,760 --> 00:17:20,760 Speaker 5: a look at how much you're saving by having your 386 00:17:20,880 --> 00:17:24,239 Speaker 5: money in the offset account. Cross reference that with what 387 00:17:24,320 --> 00:17:27,200 Speaker 5: you could potentially be earning in a share market. Obviously, 388 00:17:27,240 --> 00:17:29,720 Speaker 5: you said you're very risk adverse, so keep in mind 389 00:17:29,800 --> 00:17:32,359 Speaker 5: that you are taking on risk with the share market. 390 00:17:32,480 --> 00:17:35,560 Speaker 5: We know the average rate of return over VD. You 391 00:17:35,560 --> 00:17:37,000 Speaker 5: do the thing, you're so much better than me. 392 00:17:37,680 --> 00:17:39,280 Speaker 3: No, no, no, It's one of those things where it's 393 00:17:39,359 --> 00:17:42,480 Speaker 3: up to you and it's up to your personal circumstances. 394 00:17:42,680 --> 00:17:44,679 Speaker 3: But I can't give you advice. What I can do 395 00:17:44,760 --> 00:17:47,280 Speaker 3: is explain what I do. So I have a mortgage, 396 00:17:47,520 --> 00:17:51,080 Speaker 3: I also have shares, and I have worked out that 397 00:17:51,280 --> 00:17:55,000 Speaker 3: my mortgage is sitting just above four percent on average 398 00:17:55,040 --> 00:17:57,520 Speaker 3: over the last you know, however long, it's performing at 399 00:17:57,560 --> 00:18:00,359 Speaker 3: more than eleven percent. So if I had a and 400 00:18:00,400 --> 00:18:02,240 Speaker 3: I wanted to make it work as hard as I 401 00:18:02,320 --> 00:18:05,720 Speaker 3: did for it, the best place for it in my 402 00:18:05,840 --> 00:18:10,200 Speaker 3: personal circumstances is sitting in a share account. People will 403 00:18:10,240 --> 00:18:12,240 Speaker 3: counter that and say, no, I want to smash off 404 00:18:12,240 --> 00:18:14,840 Speaker 3: my debt really quickly, Victoria and get rid of that 405 00:18:14,880 --> 00:18:16,359 Speaker 3: because I don't want to have that, and then I'll 406 00:18:16,400 --> 00:18:20,639 Speaker 3: aggressively invest. For me, that strategy doesn't work because I 407 00:18:20,640 --> 00:18:24,080 Speaker 3: would prefer to have my debt literally until the day 408 00:18:24,119 --> 00:18:27,720 Speaker 3: I retire and hold more debt for longer while I 409 00:18:27,800 --> 00:18:31,199 Speaker 3: have another asset that's actually worth way more so that 410 00:18:31,240 --> 00:18:33,800 Speaker 3: when I retire, I retire with no debt and a 411 00:18:33,800 --> 00:18:37,000 Speaker 3: big share portfolio. Because we know that the most important 412 00:18:37,040 --> 00:18:39,840 Speaker 3: thing for your money is time in the market. So 413 00:18:40,000 --> 00:18:43,439 Speaker 3: like a dollar today invested is worth to me a 414 00:18:43,480 --> 00:18:46,040 Speaker 3: lot more than a dollar invested in twenty years once 415 00:18:46,080 --> 00:18:49,040 Speaker 3: my mortgage is gone, because that's twenty years that dollar 416 00:18:49,119 --> 00:18:51,760 Speaker 3: hasn't had in the market to work. So for me, 417 00:18:51,920 --> 00:18:54,720 Speaker 3: that works out. On the flip side, you need to 418 00:18:54,760 --> 00:18:57,520 Speaker 3: work out what's of value to you if you are 419 00:18:57,640 --> 00:19:00,919 Speaker 3: a very high marginal time tax rates. So like you 420 00:19:00,960 --> 00:19:03,280 Speaker 3: earn a lot of money and you know you're paying 421 00:19:03,320 --> 00:19:06,160 Speaker 3: like almost half of your income to the tax man. 422 00:19:06,880 --> 00:19:09,840 Speaker 3: One of the benefits of an offset account is it 423 00:19:09,960 --> 00:19:14,080 Speaker 3: offsets the interest that is payable, so there's no tax 424 00:19:14,119 --> 00:19:17,840 Speaker 3: there because you're only saving money. So yes, you're offsetting 425 00:19:18,200 --> 00:19:20,240 Speaker 3: four and a half percent or five percent or whatever 426 00:19:20,280 --> 00:19:24,600 Speaker 3: your mortgage is today, but you also aren't getting charged 427 00:19:24,640 --> 00:19:28,000 Speaker 3: for that privilege. Whereas if I make five percent in 428 00:19:28,040 --> 00:19:32,280 Speaker 3: the share market, I'm going to be taxed on that income. YEA, 429 00:19:32,600 --> 00:19:36,200 Speaker 3: to me, is that bad? No? Because I'm actually still 430 00:19:36,760 --> 00:19:41,000 Speaker 3: taking into consideration tax I'm still ahead in my share portfolio. 431 00:19:41,280 --> 00:19:44,080 Speaker 3: So for me personally, you know, we have money in 432 00:19:44,119 --> 00:19:46,679 Speaker 3: our offset. My husband and I have a number of offsets. 433 00:19:46,960 --> 00:19:50,440 Speaker 3: We have our cash hub, so both of our incomes 434 00:19:50,520 --> 00:19:53,720 Speaker 3: go into an offset account together and that's where all 435 00:19:53,800 --> 00:19:56,879 Speaker 3: of our money just sits for the interrom like you know, 436 00:19:56,960 --> 00:19:59,560 Speaker 3: our grocery money and stuff that we haven't pre allocated. 437 00:20:00,080 --> 00:20:03,040 Speaker 3: Then have another offset account, which is a savings account, 438 00:20:03,080 --> 00:20:05,640 Speaker 3: which is just like savings for things like if we're 439 00:20:05,640 --> 00:20:07,960 Speaker 3: going on a holiday, or if we're making family plans 440 00:20:08,040 --> 00:20:10,240 Speaker 3: or something like, we can allocate stuff to their. We've 441 00:20:10,280 --> 00:20:13,359 Speaker 3: got our emergency fund, which is another offset account because 442 00:20:13,400 --> 00:20:16,040 Speaker 3: you should never ever ever invest your emergency fund, no 443 00:20:16,080 --> 00:20:18,720 Speaker 3: matter how tempting. So that cash is sitting there offsetting 444 00:20:18,760 --> 00:20:21,119 Speaker 3: our mortgage. And then both of our food, fuel and 445 00:20:21,160 --> 00:20:23,159 Speaker 3: fun accounts, which I've spoken about before, and if you've 446 00:20:23,200 --> 00:20:25,320 Speaker 3: done the Money masterclass, you know what I'm talking about. 447 00:20:25,680 --> 00:20:27,960 Speaker 3: Both of our food, fuel, and fun accounts are also 448 00:20:28,119 --> 00:20:31,840 Speaker 3: offset accounts that we can spend from our will like 449 00:20:31,960 --> 00:20:35,439 Speaker 3: however we want. So the money that we have is 450 00:20:35,560 --> 00:20:39,240 Speaker 3: absolutely or offsetting our mortgage because like your dollars should 451 00:20:39,240 --> 00:20:41,280 Speaker 3: be working for you, or that's how I see it. 452 00:20:41,440 --> 00:20:41,760 Speaker 5: Yeah. 453 00:20:41,760 --> 00:20:43,800 Speaker 3: But then out of that cash hub that I was 454 00:20:43,840 --> 00:20:46,360 Speaker 3: telling you about, we have a direct debit that goes 455 00:20:46,400 --> 00:20:49,600 Speaker 3: into my investment account. And so every single time that 456 00:20:49,600 --> 00:20:53,200 Speaker 3: we get paid, everything filters in. Our emergency fund gets 457 00:20:53,240 --> 00:20:55,439 Speaker 3: topped up if it needs to, our savings get topped up. 458 00:20:55,480 --> 00:20:57,520 Speaker 3: We transfer our money to our food fuel and fund, 459 00:20:57,560 --> 00:21:01,640 Speaker 3: and we also transfer our money out to our investing platform. 460 00:21:01,680 --> 00:21:04,800 Speaker 3: So for me, that works the best, and it means 461 00:21:04,800 --> 00:21:07,000 Speaker 3: that every dollar is working really hard. But in the 462 00:21:07,000 --> 00:21:10,560 Speaker 3: long term, I'm better off than smashing down the mortgage 463 00:21:10,600 --> 00:21:13,000 Speaker 3: as much as possible, even though I don't really like 464 00:21:13,080 --> 00:21:17,200 Speaker 3: looking at my mortgage. I seek yeah, and I understand 465 00:21:17,200 --> 00:21:17,680 Speaker 3: as well. 466 00:21:18,119 --> 00:21:21,680 Speaker 5: When you look at the amount of money you pay 467 00:21:21,880 --> 00:21:23,760 Speaker 5: over the term of your mortgage, like I know that 468 00:21:23,800 --> 00:21:26,840 Speaker 5: you go, oh, well, my mortgage is for seven hundred thousand, 469 00:21:26,880 --> 00:21:28,760 Speaker 5: but then over the court of like the mortgage, I 470 00:21:28,760 --> 00:21:33,080 Speaker 5: pay one million. Yeah, correct, Like I totally get that that. 471 00:21:33,720 --> 00:21:36,120 Speaker 5: Psychologically you look at that and go, well, I want 472 00:21:36,160 --> 00:21:37,399 Speaker 5: to pay it down. I don't want to pay that, 473 00:21:37,960 --> 00:21:40,199 Speaker 5: And that is also okay if that's like what is 474 00:21:40,280 --> 00:21:42,879 Speaker 5: most in line with your values and your risk profile, 475 00:21:42,920 --> 00:21:43,440 Speaker 5: because you say. 476 00:21:43,320 --> 00:21:46,400 Speaker 3: One hundred percent. Because sometimes the thing that you make 477 00:21:46,440 --> 00:21:48,439 Speaker 3: the decision on isn't because the money is going to 478 00:21:48,440 --> 00:21:50,720 Speaker 3: be the most It's because it makes you feel most comfortable. Yeah, 479 00:21:50,760 --> 00:21:53,359 Speaker 3: and that's worth considering too. It's yeah, no, absolutely, and 480 00:21:53,440 --> 00:21:55,480 Speaker 3: if that makes you really comfy. But another way to 481 00:21:55,520 --> 00:21:57,520 Speaker 3: put it is, Jesse, if you came into fifty thousand 482 00:21:57,520 --> 00:22:00,359 Speaker 3: dollars today, Like, let's pretend you for a got your 483 00:22:00,359 --> 00:22:03,280 Speaker 3: emergency funds sorted, and like you have a mortgage, and 484 00:22:03,320 --> 00:22:05,760 Speaker 3: you also have an investing account, and we are just 485 00:22:05,800 --> 00:22:08,720 Speaker 3: looking at purely, how does this fifty like you don't 486 00:22:08,720 --> 00:22:10,399 Speaker 3: need it for anything? Ye, Like you know, I'm not 487 00:22:10,440 --> 00:22:12,520 Speaker 3: saying what would you spend it on. It's like, you know, 488 00:22:12,600 --> 00:22:15,480 Speaker 3: this open ended thing we're picking. You've got fifty grand, 489 00:22:15,480 --> 00:22:16,879 Speaker 3: it either goes on your mortgage or it goes in 490 00:22:16,920 --> 00:22:19,840 Speaker 3: your investment. Your investment is going to return you more 491 00:22:19,840 --> 00:22:22,840 Speaker 3: money over the long term, and putting it on your mortgage, 492 00:22:23,080 --> 00:22:25,439 Speaker 3: So do with that information what you will. And I 493 00:22:25,440 --> 00:22:27,880 Speaker 3: think it's all about comfort, So do your research, work 494 00:22:27,920 --> 00:22:30,840 Speaker 3: out what's going on. But like, I have a lot 495 00:22:30,840 --> 00:22:34,600 Speaker 3: of peace knowing that one my money is compounding in 496 00:22:34,640 --> 00:22:37,880 Speaker 3: the share market and I'm making money and go, I'm 497 00:22:37,880 --> 00:22:40,600 Speaker 3: going to retire a millionaire. I'm going to retire a multimillionaire, 498 00:22:40,680 --> 00:22:42,919 Speaker 3: and I'm very excited about that, and I want to 499 00:22:42,960 --> 00:22:45,520 Speaker 3: talk this year more about that side of it, because 500 00:22:45,560 --> 00:22:48,920 Speaker 3: I think I've shared a lot. But I also shy 501 00:22:48,960 --> 00:22:50,760 Speaker 3: away from being like, oh, it looks like this for 502 00:22:50,840 --> 00:22:53,800 Speaker 3: me because I'm like, oh, it's not that relatable. I 503 00:22:53,840 --> 00:22:57,199 Speaker 3: am relatable. I promise like I've come from nothing. I 504 00:22:57,240 --> 00:23:00,199 Speaker 3: came from forty thousand dollars in debt to creating this, 505 00:23:00,320 --> 00:23:02,960 Speaker 3: and that's insane. But if it's not relatable to you, 506 00:23:03,040 --> 00:23:05,320 Speaker 3: that's okay. Let's use it as aspirational. And I really 507 00:23:05,359 --> 00:23:07,280 Speaker 3: want to share those things so you can be motivated 508 00:23:07,320 --> 00:23:09,679 Speaker 3: to change your own life. Yeah. But I look at 509 00:23:09,680 --> 00:23:12,840 Speaker 3: it and I go, all right, well, if I was 510 00:23:12,880 --> 00:23:15,400 Speaker 3: in that position, this is what I would do. And 511 00:23:15,480 --> 00:23:17,200 Speaker 3: I have a lot of peace knowing that my share 512 00:23:17,200 --> 00:23:20,080 Speaker 3: portfolio could pay off my mortgage tomorrow. I'm not going 513 00:23:20,160 --> 00:23:23,359 Speaker 3: to do that, though, because I want to create wealth, 514 00:23:23,359 --> 00:23:25,399 Speaker 3: and so I'm happy for my mortgage to tick along 515 00:23:25,400 --> 00:23:29,280 Speaker 3: in the background, because like, sometimes debt can mean that 516 00:23:29,320 --> 00:23:32,680 Speaker 3: we're ahead financially, yeah, just not personal debt. Yeah, I 517 00:23:32,760 --> 00:23:35,600 Speaker 3: can promise your credit card isn't getting you ahead, Garrett? 518 00:23:35,880 --> 00:23:37,439 Speaker 3: Do you want to get into the spicy stuff? 519 00:23:37,520 --> 00:23:37,960 Speaker 6: Please? 520 00:23:38,400 --> 00:23:41,640 Speaker 3: So on the stories I posted this DM that I got. Hey, 521 00:23:41,640 --> 00:23:43,600 Speaker 3: she's on the money. My father in law passed away 522 00:23:43,600 --> 00:23:47,120 Speaker 3: suddenly and his partner is handling everything. She's always been 523 00:23:47,240 --> 00:23:50,320 Speaker 3: terrible with money. We've even had debt collectors call us 524 00:23:50,359 --> 00:23:53,960 Speaker 3: looking for her. Now. She claims he didn't have a will, 525 00:23:54,400 --> 00:23:56,600 Speaker 3: but a few months ago she asked us to sign 526 00:23:56,640 --> 00:23:59,840 Speaker 3: as executors for her will, and we believed she was 527 00:24:00,040 --> 00:24:03,000 Speaker 3: getting it in line with my father in laws. We 528 00:24:03,040 --> 00:24:06,400 Speaker 3: think she's trying to keep everything for herself. There's probably 529 00:24:06,440 --> 00:24:09,360 Speaker 3: no cash, honestly, just his tools and a few assets 530 00:24:09,359 --> 00:24:12,400 Speaker 3: my husband would love to keep. She's now asking us 531 00:24:12,400 --> 00:24:15,880 Speaker 3: to pay fifteen hundred dollars each towards his cremation. It's 532 00:24:15,920 --> 00:24:17,840 Speaker 3: one of those things that we have the money in 533 00:24:17,880 --> 00:24:20,800 Speaker 3: an emergency fund for and don't really feel like we 534 00:24:20,880 --> 00:24:24,199 Speaker 3: can say no to. Should we contribute, knowing her history 535 00:24:24,240 --> 00:24:27,240 Speaker 3: and that the money may not even go where it's intended. 536 00:24:27,560 --> 00:24:30,080 Speaker 3: I'm just scared that this will just be the start. 537 00:24:30,320 --> 00:24:32,040 Speaker 3: Please help. Oh, I'm so sorry. 538 00:24:32,080 --> 00:24:36,359 Speaker 5: I feel lost, and also apparently I'm willfully naive because 539 00:24:36,359 --> 00:24:36,920 Speaker 5: I had no idea. 540 00:24:37,000 --> 00:24:39,760 Speaker 3: It costs that much money to create somebody. It's thousands 541 00:24:39,800 --> 00:24:42,679 Speaker 3: of dollars on average, I would say, And people are 542 00:24:42,720 --> 00:24:44,639 Speaker 3: probably going to be like, oh, ours was cheaper or 543 00:24:44,680 --> 00:24:47,359 Speaker 3: whatever it is, but your average funeral is going to 544 00:24:47,400 --> 00:24:50,400 Speaker 3: cost ten thousand dollars. I'd say, I had no idea, 545 00:24:50,680 --> 00:24:54,280 Speaker 3: and like the frustrating thing about that, and it's really like, unfortunately, 546 00:24:54,359 --> 00:24:56,720 Speaker 3: I have a lot of experience in this space, having 547 00:24:56,760 --> 00:24:59,040 Speaker 3: worked in financial advice and worked a lot in the 548 00:24:59,080 --> 00:25:02,640 Speaker 3: inheritance space. Often that's lumped on you before you can 549 00:25:02,720 --> 00:25:06,440 Speaker 3: access their trusts, like before you can access their superannuation 550 00:25:06,640 --> 00:25:09,879 Speaker 3: or their savings account. When someone passes away, more often 551 00:25:09,880 --> 00:25:12,600 Speaker 3: than not, their bank accounts get locked up until there 552 00:25:12,680 --> 00:25:14,879 Speaker 3: is a resolution, until they know where that money is 553 00:25:14,880 --> 00:25:17,280 Speaker 3: meant to go. You can't just dip into someone else's account, 554 00:25:17,920 --> 00:25:20,679 Speaker 3: Like if you know someone passed away and that was 555 00:25:20,720 --> 00:25:22,639 Speaker 3: really close to you, Jess, you can't just go and 556 00:25:22,640 --> 00:25:25,480 Speaker 3: get their debit card and be like put it on this. Yeah, 557 00:25:25,520 --> 00:25:27,879 Speaker 3: So you usually have to find the funds and then 558 00:25:27,920 --> 00:25:31,080 Speaker 3: they can be replenished later from their estate. Yeap, where 559 00:25:31,119 --> 00:25:34,399 Speaker 3: are you getting that? Yeah, that's crazy. It can be 560 00:25:34,480 --> 00:25:35,840 Speaker 3: so financially frustrating. 561 00:25:36,000 --> 00:25:38,320 Speaker 5: Yeah, we've done an episode before on wills and why 562 00:25:38,359 --> 00:25:40,120 Speaker 5: they're so important. I think this is a really great 563 00:25:40,160 --> 00:25:43,199 Speaker 5: example of why. If there is not a will in place, 564 00:25:43,520 --> 00:25:46,960 Speaker 5: the assets or any money or anything that was owned 565 00:25:47,000 --> 00:25:50,320 Speaker 5: by your father in law will be distributed based on 566 00:25:50,800 --> 00:25:53,160 Speaker 5: like a standardized determination of. 567 00:25:53,080 --> 00:25:55,680 Speaker 3: Where it goes. Is it spouse verst I'm not sure, 568 00:25:55,720 --> 00:25:58,880 Speaker 3: do you know? It really depends on what the courts think. 569 00:25:59,160 --> 00:26:01,480 Speaker 3: So if you do not have a will, it automatically 570 00:26:01,520 --> 00:26:03,840 Speaker 3: goes through the legal system, which can take a minimum 571 00:26:03,920 --> 00:26:06,880 Speaker 3: of twelve months to be distributed, even longer if there 572 00:26:06,880 --> 00:26:09,960 Speaker 3: are debates around who should get what, and someone puts 573 00:26:09,960 --> 00:26:11,560 Speaker 3: their hand up and says, well, I want X or 574 00:26:11,600 --> 00:26:14,440 Speaker 3: I want why. More often than not, yes, you're saying 575 00:26:14,440 --> 00:26:16,320 Speaker 3: there's no cash, but there will be just stuff to 576 00:26:16,400 --> 00:26:19,040 Speaker 3: sort out. So he might not have a really big 577 00:26:19,040 --> 00:26:22,600 Speaker 3: savings account, but he probably has super. Whether there's five 578 00:26:22,640 --> 00:26:25,000 Speaker 3: thousand dollars in that super or five hundred thousand dollars, 579 00:26:25,080 --> 00:26:30,560 Speaker 3: it's the same process. And unfortunately what gets DIBs is 580 00:26:30,560 --> 00:26:33,160 Speaker 3: his personal debts first. So if he has a credit 581 00:26:33,240 --> 00:26:35,280 Speaker 3: card that needs to be paid out, that gets paid 582 00:26:35,280 --> 00:26:37,760 Speaker 3: out before the quote estate. So when I talk about 583 00:26:37,760 --> 00:26:41,720 Speaker 3: the estate, I'm talking about everything that individual owned, from 584 00:26:41,760 --> 00:26:44,800 Speaker 3: their shoes to their superannuation, because it goes, well, this 585 00:26:44,880 --> 00:26:47,600 Speaker 3: is Jessica's a state, this is all her stuff, and 586 00:26:48,160 --> 00:26:52,239 Speaker 3: that distribution will go towards paying debts. First debts, like 587 00:26:52,280 --> 00:26:54,440 Speaker 3: if he doesn't have enough cash to pay off his debts, 588 00:26:54,440 --> 00:26:57,359 Speaker 3: that doesn't transfer to you. In Australia, which is really lucky. 589 00:26:57,440 --> 00:26:59,280 Speaker 3: It'll just be like, okay, well we have to wipe 590 00:26:59,280 --> 00:27:02,080 Speaker 3: that slate clean, can't pay it back. But all of 591 00:27:02,119 --> 00:27:04,719 Speaker 3: those things need to be considered and then there'll be 592 00:27:04,800 --> 00:27:08,080 Speaker 3: a lump sum at the end. And usually dependents come first, 593 00:27:08,160 --> 00:27:10,840 Speaker 3: so if they're married, yes, it will probably be there. 594 00:27:11,320 --> 00:27:14,640 Speaker 3: But you can always put in a counter argument to say, well, 595 00:27:14,680 --> 00:27:17,480 Speaker 3: actually I really want my dad's tools or this or that. 596 00:27:18,240 --> 00:27:21,000 Speaker 3: More often than not, when it comes to physical stuff 597 00:27:21,400 --> 00:27:24,879 Speaker 3: like tools, it's a family negotiation. So you kind of 598 00:27:24,920 --> 00:27:27,040 Speaker 3: just do the important stuff through the legal system like 599 00:27:27,080 --> 00:27:30,080 Speaker 3: subernuation or his credit cards or you know, his bank, 600 00:27:30,359 --> 00:27:31,800 Speaker 3: and then you'll be like, did you want to take 601 00:27:31,840 --> 00:27:34,959 Speaker 3: Dud's tools? No worries, like the government doesn't know about that, 602 00:27:35,160 --> 00:27:37,040 Speaker 3: so you kind of just do it at will. Yeah, 603 00:27:37,040 --> 00:27:40,320 Speaker 3: but it becomes a point of contention if someone's like, well, 604 00:27:40,359 --> 00:27:43,560 Speaker 3: I wanted to sell them, and then they might try 605 00:27:43,600 --> 00:27:45,600 Speaker 3: and bring it up as a part of the estate. 606 00:27:45,800 --> 00:27:48,480 Speaker 5: Yeah, okay, I see, I will just preverse with what 607 00:27:48,480 --> 00:27:50,520 Speaker 5: I'm about to say that this. I'm only saying this 608 00:27:50,560 --> 00:27:53,160 Speaker 5: because our listener has said that they think that the. 609 00:27:53,760 --> 00:27:55,120 Speaker 3: Isn't being truthful. Correct. 610 00:27:55,240 --> 00:27:57,600 Speaker 5: Yes, so I would this be normally what I would 611 00:27:57,600 --> 00:27:58,560 Speaker 5: say for a grieving widow. 612 00:27:58,880 --> 00:28:01,880 Speaker 3: No, do you know what? It can be really confronting though, 613 00:28:02,119 --> 00:28:04,919 Speaker 3: Like unfortunately, when stuff like this happens, we have to 614 00:28:04,960 --> 00:28:08,960 Speaker 3: have some pretty confronting conversations sometimes when you're not ready 615 00:28:08,960 --> 00:28:09,239 Speaker 3: for it. 616 00:28:09,400 --> 00:28:14,000 Speaker 5: Yeah, So what I personally would do is I mean, obviously, 617 00:28:14,040 --> 00:28:16,640 Speaker 5: I think you would be happy to contribute if that's 618 00:28:16,640 --> 00:28:18,400 Speaker 5: what it takes to get it done, to do the 619 00:28:18,400 --> 00:28:21,520 Speaker 5: funeral or the cremation or whatever it is in a 620 00:28:21,560 --> 00:28:24,840 Speaker 5: way that you feel honors the wishes of your father 621 00:28:24,920 --> 00:28:27,199 Speaker 5: in law. What that looks like, The semantics of that, 622 00:28:27,280 --> 00:28:28,920 Speaker 5: the cost of that is going to be so specific 623 00:28:28,960 --> 00:28:31,160 Speaker 5: to you. So maybe do a little bit of research 624 00:28:31,200 --> 00:28:32,679 Speaker 5: on your own and figure that out so you know 625 00:28:32,760 --> 00:28:37,000 Speaker 5: that financially, what she's asking for stacks up with what's 626 00:28:37,040 --> 00:28:39,160 Speaker 5: going to be done, And then I probably would say 627 00:28:39,200 --> 00:28:43,160 Speaker 5: something like really happy to come over and write a check. 628 00:28:43,440 --> 00:28:45,400 Speaker 5: And I know that's random because you right to check 629 00:28:45,440 --> 00:28:47,760 Speaker 5: in twenty twenty five, but I say that as something 630 00:28:47,840 --> 00:28:50,880 Speaker 5: physical so that it gives you a reason to go 631 00:28:51,440 --> 00:28:53,600 Speaker 5: see her, go to the house or go to wherever 632 00:28:53,640 --> 00:28:55,880 Speaker 5: the stuff is, and say, while we're here, we'd really 633 00:28:55,920 --> 00:28:57,960 Speaker 5: love to chat about like a few things that my 634 00:28:58,080 --> 00:29:01,000 Speaker 5: partner would love to you know, keep to remember him 635 00:29:01,000 --> 00:29:03,320 Speaker 5: by something like that, can we go through everything together? 636 00:29:03,680 --> 00:29:05,680 Speaker 5: Can we do the clean out together? There's this whole 637 00:29:05,680 --> 00:29:08,400 Speaker 5: thing of Swedish death cleaning, like apparently that's like cleaning 638 00:29:08,440 --> 00:29:10,400 Speaker 5: out the physical stuff can be a big burden on 639 00:29:10,440 --> 00:29:12,960 Speaker 5: people who are left behind. So it's also maybe nice 640 00:29:12,960 --> 00:29:15,280 Speaker 5: to offer that assistance to her In that way, it 641 00:29:15,280 --> 00:29:17,920 Speaker 5: gives you a chance to have a bit of visibility, 642 00:29:18,080 --> 00:29:21,640 Speaker 5: hopefully over what was left behind. But I would be 643 00:29:21,680 --> 00:29:24,080 Speaker 5: trying to find a way to like get into their 644 00:29:24,120 --> 00:29:25,960 Speaker 5: home or get into their space without trying to be 645 00:29:26,000 --> 00:29:28,920 Speaker 5: too invasive, but to then have an opportunity to say, hey, 646 00:29:29,200 --> 00:29:30,800 Speaker 5: what are we going to do with all these things? 647 00:29:31,000 --> 00:29:32,680 Speaker 5: There are some things that we'd really like to keep 648 00:29:32,680 --> 00:29:35,720 Speaker 5: for sentimentality, or are there things that we can sell 649 00:29:35,760 --> 00:29:38,160 Speaker 5: to help cover these costs, or what does that look 650 00:29:38,240 --> 00:29:42,800 Speaker 5: like so that there is a hopefully somewhat equitable distribution 651 00:29:42,920 --> 00:29:46,800 Speaker 5: of those whatever those physical assets are. The other alternative, 652 00:29:46,840 --> 00:29:48,680 Speaker 5: if you can't get in there and do that, is 653 00:29:48,720 --> 00:29:53,000 Speaker 5: I would say, can you maybe make the payments for 654 00:29:53,600 --> 00:29:57,560 Speaker 5: the cremation or the funeral or whatever directly to ensure 655 00:29:57,600 --> 00:30:00,520 Speaker 5: that the money is being used for that that something 656 00:30:00,560 --> 00:30:02,080 Speaker 5: that you're worried about, you. 657 00:30:02,040 --> 00:30:05,160 Speaker 3: Know, having worked in the space, having unfortunately in the 658 00:30:05,200 --> 00:30:07,600 Speaker 3: last twelve months, had to guide a friend through this 659 00:30:07,680 --> 00:30:13,560 Speaker 3: for her younger sister. Cremations can't be doy no, so 660 00:30:13,640 --> 00:30:17,000 Speaker 3: it actually has to be done through a registered funeral home. Amazing. 661 00:30:17,080 --> 00:30:19,080 Speaker 3: So I just I'm going to call the funeral home. 662 00:30:19,160 --> 00:30:21,320 Speaker 3: Yeah cool? Where's your going? The Pine? No worries, I'm 663 00:30:21,320 --> 00:30:22,280 Speaker 3: going to call up the Pine. 664 00:30:22,400 --> 00:30:22,560 Speaker 6: Hi. 665 00:30:22,760 --> 00:30:26,320 Speaker 3: I'm you know XYZ's daughter. I've been asked to contribute 666 00:30:26,360 --> 00:30:28,840 Speaker 3: to the cremation. Could you just give me an invoice 667 00:30:28,880 --> 00:30:30,680 Speaker 3: of what it is. There's four of us, we're going 668 00:30:30,760 --> 00:30:32,720 Speaker 3: to be splitting the cost evenly. Could you just tell 669 00:30:32,760 --> 00:30:35,000 Speaker 3: me what I owe you and I'll pay you directly. Yeah, 670 00:30:35,040 --> 00:30:37,680 Speaker 3: no worries. Thanks Cheryl or whoever it is. I've actually 671 00:30:37,720 --> 00:30:39,320 Speaker 3: called the funeral home. I know you said it was 672 00:30:39,320 --> 00:30:42,120 Speaker 3: fifteen hundred. They actually said it was eight hundred per person. 673 00:30:42,200 --> 00:30:45,200 Speaker 3: I'm just confused. Did you build in like some flowers 674 00:30:45,320 --> 00:30:48,280 Speaker 3: or something. Is that the full funeral cost? Like, I'll 675 00:30:48,280 --> 00:30:51,360 Speaker 3: call them back, I'll ask like some more questions. Yeah, 676 00:30:51,400 --> 00:30:54,880 Speaker 3: but like nothing is stopping you from calling up. They 677 00:30:54,960 --> 00:30:56,880 Speaker 3: might go, oh, I can't talk to you about this, 678 00:30:56,880 --> 00:30:59,160 Speaker 3: this or this, but like I'm telling you right now, 679 00:30:59,160 --> 00:31:00,960 Speaker 3: if that person is not telling the truth, and you 680 00:31:01,000 --> 00:31:02,560 Speaker 3: call up the pine and they go, oh, we're just 681 00:31:02,600 --> 00:31:05,000 Speaker 3: dealing with the wife at the moment, go okay, no worries, 682 00:31:05,000 --> 00:31:07,360 Speaker 3: but could you tell the wife that I've called because 683 00:31:07,400 --> 00:31:10,280 Speaker 3: I'm very happy to make the contribution, but I want 684 00:31:10,280 --> 00:31:12,520 Speaker 3: to make it directly. Yeah, and they're going to go, 685 00:31:12,880 --> 00:31:14,800 Speaker 3: we want to get paid, no worries, Like and you 686 00:31:14,840 --> 00:31:17,800 Speaker 3: know what, this is awful again, And anyone who works 687 00:31:17,840 --> 00:31:22,000 Speaker 3: in this space will know families are thickle. Like families 688 00:31:22,040 --> 00:31:25,560 Speaker 3: are so challenging to work with. Sometimes there's dream families 689 00:31:25,600 --> 00:31:28,160 Speaker 3: and everyone's on the same page, but there's always an 690 00:31:28,160 --> 00:31:30,800 Speaker 3: ex wife or a daughter who wants something different or 691 00:31:30,960 --> 00:31:34,040 Speaker 3: someone who wants X, Y or Z done under a 692 00:31:34,080 --> 00:31:37,400 Speaker 3: certain you know, time schedule, and that's just not there. 693 00:31:37,680 --> 00:31:39,920 Speaker 3: Sometimes you want the person embalmed and then someone else 694 00:31:39,960 --> 00:31:43,200 Speaker 3: doesn't want that. Like there's conflict at every corner and 695 00:31:43,280 --> 00:31:46,440 Speaker 3: it can be exhausting. But like to me, I'm sorry 696 00:31:46,640 --> 00:31:49,600 Speaker 3: right now, that's really sad. You don't need the drama. 697 00:31:49,800 --> 00:31:52,880 Speaker 3: Just go direct to the source. But hey, is there 698 00:31:52,920 --> 00:31:55,440 Speaker 3: anything else that I can do? You know, did you 699 00:31:55,480 --> 00:31:59,360 Speaker 3: have any outstanding questions from this person, Because if they're 700 00:31:59,400 --> 00:32:01,040 Speaker 3: a good person and they're doing the right thing, they're 701 00:32:01,040 --> 00:32:03,720 Speaker 3: not got to mind that you called about your father 702 00:32:03,760 --> 00:32:07,080 Speaker 3: in law, yeah, or your husband called about his dad. 703 00:32:07,320 --> 00:32:10,240 Speaker 3: It's family. It's family. Sorry, if something happened to my 704 00:32:10,360 --> 00:32:13,200 Speaker 3: dad and for some reason, like I'm very lucky my 705 00:32:13,240 --> 00:32:15,920 Speaker 3: parents are still together, but there was another person on 706 00:32:15,960 --> 00:32:19,680 Speaker 3: the Sorry, I'm going straight to the source. That's my dad. Yeah, 707 00:32:19,800 --> 00:32:22,080 Speaker 3: I want to know what's going on. So I would 708 00:32:22,240 --> 00:32:26,000 Speaker 3: put my foot down in that aspect. As for stuff, 709 00:32:26,320 --> 00:32:29,520 Speaker 3: you can definitely argue that whether that is through an 710 00:32:29,680 --> 00:32:32,120 Speaker 3: estate planner, if he has no will, I would be 711 00:32:32,480 --> 00:32:35,400 Speaker 3: diving a little bit deeper and saying no, we know 712 00:32:35,480 --> 00:32:37,240 Speaker 3: he had a will, or saying my dad told me 713 00:32:37,400 --> 00:32:40,440 Speaker 3: he had a will, Let's go find it was lodged somewhere. 714 00:32:40,480 --> 00:32:42,880 Speaker 3: Was it officially done at some point? You might be 715 00:32:42,960 --> 00:32:45,840 Speaker 3: able to get into his emails and find some correspondence 716 00:32:45,880 --> 00:32:48,760 Speaker 3: with an estate planning lawyer or somebody who helped that, 717 00:32:48,840 --> 00:32:50,800 Speaker 3: because more often than not, if you do a will, 718 00:32:50,840 --> 00:32:52,800 Speaker 3: it's not on the back of a receipt. Yeah, there 719 00:32:52,840 --> 00:32:55,080 Speaker 3: will be evidence of it somewhere. You need to look 720 00:32:55,120 --> 00:32:57,880 Speaker 3: into that. Does he have a lock box, does he 721 00:32:58,000 --> 00:33:01,800 Speaker 3: have somebody that he has nominated add his medical or 722 00:33:01,880 --> 00:33:05,920 Speaker 3: personal power of attorney? How was that documented? So I'm 723 00:33:05,920 --> 00:33:09,160 Speaker 3: perving through their stuff. I'm finding that information myself. If not, 724 00:33:09,840 --> 00:33:11,720 Speaker 3: I am looking it up. Yeah, do you know what 725 00:33:11,760 --> 00:33:14,440 Speaker 3: I mean? And this is the point where you might 726 00:33:14,640 --> 00:33:18,560 Speaker 3: want some professional help, because we can feel about uncomfed. Yeah, 727 00:33:18,600 --> 00:33:20,160 Speaker 3: and you can reach out to a good like a 728 00:33:20,200 --> 00:33:22,520 Speaker 3: state planning lawyer and just be like, hey, what direction 729 00:33:22,560 --> 00:33:24,280 Speaker 3: do I need to go in and they will be 730 00:33:24,280 --> 00:33:27,840 Speaker 3: able to direct you because again it's really complicated and 731 00:33:27,880 --> 00:33:30,200 Speaker 3: it varies state on state. So what we do here 732 00:33:30,200 --> 00:33:33,360 Speaker 3: in Victoria is not the process in Queensland. Yeah, and 733 00:33:33,400 --> 00:33:35,880 Speaker 3: that's really frustrating. So I can't give you any further advice. 734 00:33:35,960 --> 00:33:39,080 Speaker 3: But also, I'm not a lawyer, go talk to one totally. 735 00:33:39,360 --> 00:33:40,320 Speaker 3: What did everybody else say? 736 00:33:40,560 --> 00:33:40,680 Speaker 6: Right? 737 00:33:40,720 --> 00:33:42,760 Speaker 3: So, first thing I did was ask a few questions. 738 00:33:42,760 --> 00:33:44,720 Speaker 3: First question, I said, well, what would you guys do 739 00:33:44,760 --> 00:33:47,880 Speaker 3: in this situation? Sixty two percent said, pay only when 740 00:33:47,920 --> 00:33:50,760 Speaker 3: the costs are proven, thirty two percent said I'll be 741 00:33:50,840 --> 00:33:53,520 Speaker 3: lawyering up, and six percent said I'm just paying. I'm 742 00:33:53,600 --> 00:33:56,760 Speaker 3: keeping the peace. Yeah, understandable for me. It's not just 743 00:33:56,760 --> 00:33:59,480 Speaker 3: about keeping the peace. You have my fifteen hundred dollars, 744 00:34:00,080 --> 00:34:02,800 Speaker 3: but like, this is clearly a small part of a 745 00:34:02,800 --> 00:34:05,080 Speaker 3: bigger picture. Yeah, let's just make sure that we stamp 746 00:34:05,080 --> 00:34:07,600 Speaker 3: it out from the beginning. Yeah. I then asked, have 747 00:34:07,720 --> 00:34:11,080 Speaker 3: you ever had family drama dealing with a loved one's estate. 748 00:34:11,840 --> 00:34:14,640 Speaker 3: Fifty four percent of you, thankfully have said I've never 749 00:34:14,680 --> 00:34:17,320 Speaker 3: been in this situation. But then twenty eight percent of 750 00:34:17,400 --> 00:34:20,359 Speaker 3: you said, yep, and it got messy, ten percent said no, 751 00:34:20,560 --> 00:34:23,799 Speaker 3: it went well, thankfully, and eight percent said we had 752 00:34:23,840 --> 00:34:27,640 Speaker 3: a few disagreements. Yeah. So between all of that, we 753 00:34:27,800 --> 00:34:31,600 Speaker 3: take out our fifty four percent most people dealing with 754 00:34:31,640 --> 00:34:34,640 Speaker 3: these situations have it get messy? Yeah, I've had some 755 00:34:34,760 --> 00:34:38,080 Speaker 3: level of conflict. Yeah, will is so important, and just 756 00:34:38,160 --> 00:34:41,120 Speaker 3: get your stuff together anyway. I then said, all right, guys, 757 00:34:41,120 --> 00:34:44,080 Speaker 3: two cents give it to me. First person said, family 758 00:34:44,120 --> 00:34:47,440 Speaker 3: and finances is never straightforward. Pay to say goodbye and 759 00:34:47,480 --> 00:34:51,200 Speaker 3: then tackle the will later. Next person said, same page 760 00:34:51,239 --> 00:34:53,680 Speaker 3: as me. Pay directly to the funeral home. Remove the 761 00:34:53,719 --> 00:34:56,520 Speaker 3: middle person and cash going into her hands if she's 762 00:34:56,520 --> 00:34:59,480 Speaker 3: not trustworthy. Next person said, the will's going to have 763 00:34:59,520 --> 00:35:01,880 Speaker 3: been lodged, so if he has one, a solicitor should 764 00:35:01,880 --> 00:35:04,719 Speaker 3: be able to find it on the database. Yeah. Next 765 00:35:04,760 --> 00:35:08,040 Speaker 3: person said, as a wills and estate planning lawyer, I'm sorry, 766 00:35:08,120 --> 00:35:11,000 Speaker 3: thank you're perfect to slide into our dams. Please go 767 00:35:11,040 --> 00:35:13,719 Speaker 3: and get some advice about your rights for sure. I 768 00:35:13,719 --> 00:35:17,400 Speaker 3: have a two parter. Okay, Money and family is tricky, 769 00:35:17,520 --> 00:35:21,040 Speaker 3: especially when there are other factors impacting the situation. I 770 00:35:21,120 --> 00:35:23,800 Speaker 3: now no longer speak to my mother since the mess 771 00:35:23,840 --> 00:35:26,359 Speaker 3: that was sorting up my dad's estate. Oh that's really 772 00:35:26,520 --> 00:35:29,040 Speaker 3: and this is the thing breaking. It's so awful. And 773 00:35:29,360 --> 00:35:33,880 Speaker 3: totally understand that you're emotional. She's emotional. There's obviously history there. 774 00:35:33,640 --> 00:35:38,279 Speaker 5: That we do, but it's where possible try and look 775 00:35:38,280 --> 00:35:40,640 Speaker 5: at it all through a lens of grace because everyone's 776 00:35:40,680 --> 00:35:43,319 Speaker 5: dealing with the emotional loss of a loved one, and 777 00:35:43,320 --> 00:35:46,360 Speaker 5: that makes things so much more heightened, so much more complex, 778 00:35:46,440 --> 00:35:47,680 Speaker 5: so much just more challenging. 779 00:35:47,760 --> 00:35:51,600 Speaker 3: Your damn will. Yeah well yes, yeah, next person said, 780 00:35:51,920 --> 00:35:53,960 Speaker 3: three years in and my dad's estate is still not 781 00:35:54,000 --> 00:35:57,160 Speaker 3: finalized due to a big family feud. And guess what, 782 00:35:57,239 --> 00:36:00,680 Speaker 3: I'm the executor. Oh wow, So with all of this, 783 00:36:00,840 --> 00:36:03,440 Speaker 3: I've got two more. Someone else said, you guys like, 784 00:36:03,520 --> 00:36:05,799 Speaker 3: it's so funny when we post these things. It was 785 00:36:05,840 --> 00:36:09,000 Speaker 3: like people come out of the woodwork like professionals in 786 00:36:09,120 --> 00:36:12,080 Speaker 3: the perfect space. So this is the second person actually 787 00:36:12,080 --> 00:36:14,920 Speaker 3: work in wills and estates. Death brings out the greed 788 00:36:14,960 --> 00:36:17,600 Speaker 3: in people. I mean, yeah, I could see that being 789 00:36:17,640 --> 00:36:21,000 Speaker 3: true for sure. And then lucky last, we've got always 790 00:36:21,040 --> 00:36:22,880 Speaker 3: make sure you have an up to date will and 791 00:36:23,000 --> 00:36:25,960 Speaker 3: have these conversations with your loved ones so that this 792 00:36:26,040 --> 00:36:28,880 Speaker 3: doesn't happen in your family. I mean, that's the perfect summary. 793 00:36:29,040 --> 00:36:31,880 Speaker 3: That would be the perfect summary. But I am wildly 794 00:36:31,920 --> 00:36:35,520 Speaker 3: passionate about wills and estate planning. If you need a recommendation, 795 00:36:35,760 --> 00:36:38,520 Speaker 3: I have recommendations. I'll just give it to you now. 796 00:36:38,600 --> 00:36:41,560 Speaker 3: Lucy from Head and heart estate planning does. My will 797 00:36:41,680 --> 00:36:43,960 Speaker 3: has done. My whole estate plan for my family has 798 00:36:44,040 --> 00:36:47,280 Speaker 3: updated it a number of times as our situation changes. 799 00:36:47,920 --> 00:36:50,760 Speaker 3: When you have a life event, that's when you're usually 800 00:36:50,840 --> 00:36:54,000 Speaker 3: thinking about wills and estate planning. Don't wait until you 801 00:36:54,000 --> 00:36:56,400 Speaker 3: have a life event, just go and get it done. 802 00:36:56,560 --> 00:36:59,320 Speaker 3: It's a hygiene factor. It means that your family doesn't 803 00:36:59,320 --> 00:37:02,160 Speaker 3: have to stress and that all of your wishes are 804 00:37:02,160 --> 00:37:05,200 Speaker 3: going to be held. Yeah, like my money when I die, 805 00:37:05,239 --> 00:37:08,120 Speaker 3: I didn't work this hard for it to be fretted away. No, 806 00:37:08,200 --> 00:37:10,080 Speaker 3: I worked this hard so that I could have an impact, 807 00:37:10,239 --> 00:37:12,960 Speaker 3: and I would like that to be carried out. Please. Yeah, anyway, 808 00:37:13,120 --> 00:37:15,239 Speaker 3: let's leave it there. We hope you have a really 809 00:37:15,280 --> 00:37:17,200 Speaker 3: good weekend and we're going to see you bright nearly 810 00:37:17,239 --> 00:37:19,520 Speaker 3: on Monday morning. For money, Darry, Bye, guys. 811 00:37:19,719 --> 00:37:19,879 Speaker 6: Hi. 812 00:37:25,520 --> 00:37:27,680 Speaker 4: The ad buy shared on She's on the Money is 813 00:37:27,760 --> 00:37:31,360 Speaker 4: general in nature and does not consider your individual circumstances. 814 00:37:31,719 --> 00:37:35,120 Speaker 4: She's on the Money exists purely for educational purposes and 815 00:37:35,160 --> 00:37:37,600 Speaker 4: should not be relied upon to make an investment or 816 00:37:37,680 --> 00:37:38,680 Speaker 4: financial decision. 817 00:37:39,080 --> 00:37:41,240 Speaker 3: If you do choose to buy a financial. 818 00:37:40,880 --> 00:37:44,880 Speaker 4: Product, read the PDS TMD and obtain appropriate financial. 819 00:37:44,480 --> 00:37:46,240 Speaker 3: Advice tailored towards your needs. 820 00:37:46,640 --> 00:37:50,560 Speaker 4: Victoria Divine and She's on the Money are authorized representatives 821 00:37:50,600 --> 00:37:54,480 Speaker 4: of Money showper pty Ltd ABN three two one is 822 00:37:54,520 --> 00:37:58,399 Speaker 4: six four nine two seven seven zero eight AFSL four 823 00:37:58,520 --> 00:38:02,239 Speaker 4: five one two eight nine a 824 00:38:04,120 --> 00:38:04,839 Speaker 3: RECID