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Speaker 1: Hello.

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Speaker 2: My name is Satasha Nabananga Bamblet. I'm a proud or

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Speaker 2: the Order Kerni Wholbury and a waddery woman. And before

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Speaker 2: we get started on She's on the Money podcast, I

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Speaker 2: would like to acknowledge the traditional custodians of the land

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Speaker 2: of which this podcast is recorded on a wondery country,

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Speaker 2: acknowledging the elders, the ancestors and the next generation coming

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Speaker 2: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 2: and the storytelling of you to make a difference for

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Speaker 2: today and lasting impactful tomorrow.

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Speaker 3: Let's get into it.

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Speaker 4: She's on the Money, She's on the Money.

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Speaker 5: Hello, and welcome to She's on the Money, the podcast

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Speaker 5: that makes finance.

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Speaker 3: Fun, especially on Fridays.

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Speaker 5: It is our favorite day of the week because I

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Speaker 5: get to get my little team together and celebrate you,

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Speaker 5: our incredible Shees on the Money community. As always, mister

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Speaker 5: Scricci is going to be sharing our favorite money wins

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Speaker 5: and confessions from the group. Beck, I don't know, maybe

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Speaker 5: you've got three broke tips to share with the community.

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Speaker 1: I don't know.

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Speaker 3: We'll see.

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Speaker 5: We've got a juicy money dilemma this week, which is

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Speaker 5: all about negotiating a better hourly wage and something that

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Speaker 5: you slid into our DMS about should you move away

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Speaker 5: from your family and friends so you can buy a

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Speaker 5: home outright and be completely debt free.

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Speaker 1: That's a big decision.

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Speaker 5: And I just have a lot of questions about how

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Speaker 5: you have enough money to buy a home outright? What's

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Speaker 5: that look like? We need to know anyway before we

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Speaker 5: get there. How are your weeks? My loves, that's been

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Speaker 5: good to.

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Speaker 1: The exciting happening.

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Speaker 5: Just plug it along, yeah, love for you, a bit

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Speaker 5: of live love, laugh, laugh, living my best sech energy.

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Speaker 3: Oh that's so lovely.

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Speaker 6: I had gorgeous week I had. My boss told all

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Speaker 6: of us to take annually. You just putt it nice

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Speaker 6: and its kind of like if you want a cancer,

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Speaker 6: because like it's like good for sorry, no different boss,

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Speaker 6: but it's good for the company apparently if you put

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Speaker 6: your leave in and so, like I like.

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Speaker 1: So they can plan I guess so.

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Speaker 5: Or it's like it's financially but it's because companies don't

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Speaker 5: like you accruing heaps and heaps of leave because it

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Speaker 5: sits on their balance sheet as a debt. So I

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Speaker 5: as an owner of a business, like I've got people

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Speaker 5: in my business, and like Jess has some annual leave

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Speaker 5: and it sits in my like my balance sheet has

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Speaker 5: a debt because if just leaves, I have to pay

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Speaker 5: her out. Yes, yes, so it's actually better for the company,

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Speaker 5: like if you took some leave, because then they get

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Speaker 5: rid of some of that debt.

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Speaker 3: But they're just.

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Speaker 5: Paying your weekly salary.

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Speaker 1: That makes sense. Well, I just like sprinkle it across

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Speaker 1: the ear.

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Speaker 5: And so I just like happened upon like set of

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Speaker 5: you know, smart about my finances when it comes to

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Speaker 5: being a business. So I'm like, no, I'd never to

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Speaker 5: make you take leave.

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Speaker 1: Don't worry.

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Speaker 5: If you want a bank leaf, bank you leaf. If

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Speaker 5: you want to take your leaf, take your leave. Like

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Speaker 5: I just feel like that's mean.

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Speaker 1: Yeah, that's fair, that's we love a flexible queen.

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Speaker 5: Ye just I hate like side note, I just hate

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Speaker 5: when companies like yep, so mandatory shut down period over

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Speaker 5: Christmas and then she's almost like two weeks of your

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Speaker 5: own bloody leave their Christmas shutdown period and then you've

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Speaker 5: only got two during the year to quote spend on

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Speaker 5: new Yeah, it just makes no sense to me.

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Speaker 3: No, I agree.

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Speaker 6: I don't like that at all, but I do like

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Speaker 6: running to leave that I forgot I had in my calendar.

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Speaker 3: So yeah, that's fair. I did that.

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Speaker 6: And then my friend held a whole festival for their birthday,

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Speaker 6: So I sorry, it's just your.

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Speaker 1: Friend held a festival.

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Speaker 3: For the whole lu festival.

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Speaker 6: There was like one hundred dollars prepared for two nights

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Speaker 6: camping and so oh my gorgeous, gorgeous, gorgeous annually randomly

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Speaker 6: had this festival, just.

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Speaker 5: Been having a great week enough friends to have a

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Speaker 5: festival iftial for my birthday, it would be me and

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Speaker 5: just camping, that's what they would call it.

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Speaker 3: They would just call it camping.

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Speaker 1: I'd rather do that in a hotel if i'm wannest.

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Speaker 1: Oh yeah too, me too.

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Speaker 5: Yeah, Like, let's not get into that because it makes

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Speaker 5: me seem incredibly out of touch.

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Speaker 1: But you're right, hahh No, I completely agree. But no,

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Speaker 1: so gorgeous week, what about you?

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Speaker 3: I love that.

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Speaker 1: Nothing interesting to report.

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Speaker 5: Our Investing master Class is open, so I have been

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Speaker 5: spending a lot of time in that, which is really

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Speaker 5: exciting because, as you guys know, I feel like it's

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Speaker 5: not a secret. The Investing master Class is my favorite

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Speaker 5: of all the master classes I run.

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Speaker 2: I don't know.

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Speaker 5: It's my hyperfixation topic, like it's the.

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Speaker 3: Love of my life.

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Speaker 5: So I have been focusing on that a lot. If

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Speaker 5: you dried to sneak in now, maybe you could. It's

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Speaker 5: like I was meant to close the doors and stop

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Speaker 5: people signing up, but I forgot to turn that off

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Speaker 5: on purpose. So I'll leave that open for a little

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Speaker 5: bit because I keep getting these dms of people saying like, oh,

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Speaker 5: I've missed out, and like I haven't gotten in, Like

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Speaker 5: maybe you could just catch up and watch the videos

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Speaker 5: I've already dropped and just catch up. But I can't

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Speaker 5: leave it open that much longer because otherwise it's just

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Speaker 5: not fair on everyone who got in early anyway. So

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Speaker 5: that's been happening and keeping me really busy. I'm a

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Speaker 5: bit sad about it feeling colder in the mornings, like

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Speaker 5: I feel like the coldness is starting to creep back,

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Speaker 5: and I can already feel my seasonal depression starting, I see.

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Speaker 3: Which I'm not adoring.

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Speaker 5: But I'm trying to work out how I manage better

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Speaker 5: this year than I did last year. So I'm working

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Speaker 5: on that and I'll share updates if I have any gorgeous.

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Speaker 5: Yes please, Yeah, so easy though, Yeah see I need

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Speaker 5: to I need to reframe it. And it's cozy as

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Speaker 5: opposed to cold and wet and miserable. So yeah, I'll

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Speaker 5: work on that. I just need some more Beck energy

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Speaker 5: in my life. Would you guys like to bring up

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Speaker 5: the mood again? A five star review?

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Speaker 1: Yes please?

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Speaker 3: I'm excited this once from Steph.

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Speaker 5: She says, I've been listening to She's on the Money

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Speaker 5: for years now and it has properly changed my life,

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Speaker 5: both in terms of my money mindset and in terms

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Speaker 5: of mogmenting actual items. I've gone from living paycheck to

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Speaker 5: paycheck when I started listening to having a very healthy superannuation.

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Speaker 5: I actually moved to Australia at thirty two and didn't

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Speaker 5: start contributing until thirty six. Very healthy investments and I

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Speaker 5: saved an entire twenty percent house deposit, all.

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Speaker 3: On my own.

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Speaker 1: Wow.

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Speaker 5: I cannot thank these girls enough for how much they

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Speaker 5: inspire women to take charge and better their financial situations.

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Speaker 5: Also low key hoping Beck is regularly investing after all

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Speaker 5: this time.

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Speaker 3: Hah ha.

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Speaker 1: Well, thank you for your concern and I am not yet.

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Speaker 1: Do you have your roundups on though I had to

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Speaker 1: turn them off.

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Speaker 6: Yeah, that's unfortunately, but I'm going to put them back

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Speaker 6: on next piece cycle.

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Speaker 5: Check and actually, how are you going? Are you buying coffees?

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Speaker 5: Are you not buying coffees? I'm still not buying coffees.

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Speaker 5: I was thinking the other day, Beck, when I saw

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Speaker 5: you with a paper cuff in hand, I thought I'd

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Speaker 5: caught you, and I.

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Speaker 1: Said, Beck, is that a coffee that you bought? And

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Speaker 1: you were like, no, someone bought it for me.

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Speaker 3: And I was like, this, sneaky little lady. I have.

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Speaker 3: I certainly have.

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Speaker 1: Oh I forgot my wallet, or I don't have any

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Speaker 1: money for a coffee. Oh, I'm running lant.

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Speaker 5: You just work in our team, and our team I

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Speaker 5: always like, do you want me to get your coffee back?

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Speaker 1: Because you're not me to be buying coffee.

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Speaker 6: But you know, I've I've kind of gotten really used

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Speaker 6: to the flavor of a French press and I prefer

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Speaker 6: it it sounds boogier, it does seven bucks and came

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Speaker 6: out and pressing this thing down boom.

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Speaker 5: Don't tell them that's career, that's true, that's true. Secret

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Speaker 5: so they can do it as well. But like such

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Speaker 5: money Whinger's seven Bucks from came out. That's literally a

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Speaker 5: late in Glenaris, like be real genuinely.

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Speaker 6: Yeah, exactly, yeah when you put it like that, Yeah,

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Speaker 6: but no I am. I am investing in Cheersias, but

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Speaker 6: I probably do it like once every few weeks rather

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Speaker 6: than weekly or how much how often I'd like to

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Speaker 6: be doing it.

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Speaker 5: And that is fine, Like that's the beauty of investing, right,

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Speaker 5: you can turn it on and off and work out

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Speaker 5: what works for you. Yes, in a perfect world you're

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Speaker 5: investing consistently and regularly over time. But like that doesn't

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Speaker 5: work for everybody. I need to just like segue off

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Speaker 5: this for a hot second and like talk more about investing.

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Speaker 3: Was that hard to do?

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Speaker 5: Like are you just are you finding it easy to

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Speaker 5: turn on and off your investments or that? Because I

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Speaker 5: think a lot of people go, oh, I don't want

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Speaker 5: to commit to it because then I'll have to keep

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Speaker 5: doing it and it'll be hard to turn off.

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Speaker 1: No, not all.

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Speaker 3: It was so easy.

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Speaker 6: Plus I don't think I even had roundups on for

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Speaker 6: that long. I feel like I just went in because

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Speaker 6: it would be like literally a button. It's like changing

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Speaker 6: the settings in your phone.

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Speaker 1: Right, Yeah, and it's very it was very fun.

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Speaker 6: Like I think, I I don't even remember when I started.

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Speaker 6: It would have been maybe a year ago, but somehow

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Speaker 6: I have like I have like.

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Speaker 3: Five hundred bucks in there.

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Speaker 6: You don't actually, yeah, and I don't even have that

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Speaker 6: much in savings.

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Speaker 1: But there's something about like you got five hundred dollars invested, yeah.

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Speaker 6: Because I like, if that was in my savings acount,

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Speaker 6: I would have so much access to it that would

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Speaker 6: not exist. But there's something about like having to withdraw it,

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Speaker 6: and I was like I can't.

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Speaker 5: Stor it gets the more you're like, oh I really

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Speaker 5: can't touch that now. Yeah. Yeah, maybe when it was

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Speaker 5: like fifty bucks, you'd be like, oh, it wouldn't matter. Yeah,

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Speaker 5: Like it's five hundred dollars. I can't take five hundred dollars.

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Speaker 6: Exactly, and you've got to sell it from all the

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Speaker 6: different little things you've got.

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Speaker 3: It's just too much effort.

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Speaker 6: So the best way for me to say, which I

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Speaker 6: know is not ideal, that's harden emergency fund you do,

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Speaker 6: but it's just it just works very well.

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Speaker 1: So proud of you. Imagine like a year ago when

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Speaker 1: before you'd started, and you're like, oh, I remember we

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Speaker 1: spoke about it. I think in a reel or something.

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Speaker 1: You're like, Oh, I would really like I want to

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Speaker 1: it something I want to do, but I just haven't

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Speaker 1: done it yet.

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Speaker 2: Yeah.

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Speaker 1: And even if you are turning out on and off,

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Speaker 1: like the fact that you've started and you've left it

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Speaker 1: in there is such a big step.

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Speaker 3: Yeah, thank you so much, queen, Thank you guys.

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Speaker 1: I love that for you.

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Speaker 5: Speaking of love, let's move back on to what we're

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Speaker 5: meant to be talking about on the show, and that

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Speaker 5: is our community. Jess Gricchi, what are the money wins

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Speaker 5: and confessions that you're bringing to the table this week?

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Speaker 1: Oh right, first of this week, I have one from

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Speaker 1: Risha Well he said money win. I was in Woolworths

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Speaker 1: yesterday and they had Nappis on sale for half price,

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Speaker 1: so I grabbed a bag. At the checkout, it scanned

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Speaker 1: full price and I kindly mentioned it to the checkout lady.

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Speaker 1: We had a bit of back and forth. She looked

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Speaker 1: into it, and then I got told that because the

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Speaker 1: pricing was incorrect, I now got it for free money.

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Speaker 1: Apparently the same rule applies that Cole's Woolies and Aldi.

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Speaker 1: Rachelle said she would have been happy to just get

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Speaker 1: them at half priced. Just get them at free is

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Speaker 1: a huge win. And then somebody commented who worked at

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Speaker 1: one of the supermarkets instead. Apparently at the supermarket she

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Speaker 1: works at, you have to specifically mention the free rule,

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Speaker 1: So if this happens to you, it might be worth

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Speaker 1: just mentioning to whoever's checking out, Oh does this mean

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Speaker 1: I get it for free? Someone also linked a policy

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Speaker 1: information so how to look into it?

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Speaker 5: But I was talking to somebody else and this reminds

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Speaker 5: me of that. But like when you said you have

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Speaker 5: to mention it for it to be honored, I was like,

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Speaker 5: that's sneaky. But phone plans, so like when you call

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Speaker 5: up and you're asking your phone company for a better deal,

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Speaker 5: more often than not, they can't give you a better deal,

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Speaker 5: even if a different company has a lower one, unless

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Speaker 5: you specifically name drop and go, well, this other company

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Speaker 5: has it for five dollars less per month. At that

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Speaker 5: point they can go, okay, well we'll match it, but

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Speaker 5: they can't match it or drop it unless you like

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Speaker 5: yeah right, yeah, so good one to your mind, especially

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Speaker 5: a high tier item.

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Speaker 1: Nappies are expensive, so job they are?

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Speaker 3: Do you know what I won't say it's.

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Speaker 5: A hidden cost, because like you are changing a lot

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Speaker 5: of nappies, but like I was shocked at how expensive

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Speaker 5: they are consistently like that you have to end up

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Speaker 5: nappies formula. All of those things add up, like it's

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Speaker 5: just and I'm not complaining at all part of the budget, but.

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Speaker 3: It's just a lot, especially right now.

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Speaker 1: Yeah, so a free one, we love that.

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Speaker 3: Yeah seriously.

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Speaker 1: Next, I've got money in from Rebecca who said my

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Speaker 1: children's daycare were updating their outside tweet and therefore rehoming

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Speaker 1: the old ones to daycare families. They scored a cozy

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Speaker 1: Cube under.

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Speaker 3: Trick for free. The kids are obsessed.

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Speaker 1: Now they don't fight over who gets to go in

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Speaker 1: the car first because they've got one each.

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Speaker 3: Yeah that was is so cute.

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Speaker 5: I really cozy Coop Harvey is obsessed with his. And

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Speaker 5: if you don't get one for free from your daycare,

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Speaker 5: you can pick them up on Facebook market place for

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Speaker 5: like twenty bucks, or if you like me, you can

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Speaker 5: pick them up on Facebook Marketplace for twenty bucks and

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Speaker 5: then spend like one hundred dollars on paint to make

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Speaker 5: it look like a golf cart. I definitely don't need

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Speaker 5: to do that second step optional. Next, I've got a

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Speaker 5: money in from Zoe. He said, her and her friend's

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Speaker 5: doing a big group trip overseas. She was the first

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Speaker 5: to book her travel insurance. At the end of the process,

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Speaker 5: she was given a fifteen percent off discount code to

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Speaker 5: share with friends, and then every time someone uses this

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Speaker 5: account code, she would get a twenty dollars gift card

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Speaker 5: of her choice. So now all her friends excuse me,

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Speaker 5: get fifteen percent off and she gets all their twenty

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Speaker 5: dollars gift card. Oh my god, you've gained it.

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Speaker 3: Yeah, really is.

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Speaker 1: And then lastly, this week, I've got a money win

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Speaker 1: from Keianni, who said she dropped her car off to

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Speaker 1: be repaired in an embarrassingly messy state. That is always

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Speaker 1: me too, and when god, she said, it was a

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Speaker 1: lovely surprise when she picked it up because it had

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Speaker 1: been freshly detailed.

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Speaker 5: Face that is, it also makes me low key feel embarrassed,

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Speaker 5: like I'm dropping this car for a service and then

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Speaker 5: it comes back vacuumed and I'm like, that's so nice,

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Speaker 5: But it's because it needed vacuuming and probably noticed they

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Speaker 5: couldn't avoid.

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Speaker 1: Yeah, sorry about the empty wrappers. The popcorn, the crumbs,

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Speaker 1: whatever else you found down there.

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Speaker 5: Oh my goodness, well that was a very good rap

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Speaker 5: of the wag Jess Beck, what are your three broke tips?

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Speaker 1: So this first one kind of ties into the nappy thing.

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Speaker 3: Oh perfect step.

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Speaker 6: Kind of not really, but anyway, I have one from Madra,

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Speaker 6: who I'm so sorry if I'm saying that wrong, who

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Speaker 6: says by period pants they're the best things. So you

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Speaker 6: don't you have to spend money on tampons pads anymore.

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Speaker 6: I feel like if you even, like, you know, moon

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Speaker 6: cups and stuff like that.

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Speaker 5: I was about to add to that, I have the

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Speaker 5: period cup from Moxie.

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Speaker 3: I'm obsessed.

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Speaker 5: Yeah, and it's so love it, like it is the

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Speaker 5: love of my life. Like and I am not saying

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Speaker 5: that lightly because I know that a period cup isn't

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Speaker 5: for everybody, but for me that works so well, Like

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Speaker 5: and I.

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Speaker 3: Love that it's zero waste. Yeah, really good, perfectly exactly exactly. Yeah,

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Speaker 3: and it's so much easier than you think it is.

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Speaker 5: Like I think a lot of the time people go, oh,

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Speaker 5: that would be really uncomfortable, Like it's not I would

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Speaker 5: make a video on it. But the entire Moxie like,

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Speaker 5: I don't know if you guys have seen the Moxy TikTok.

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Speaker 1: They have like more.

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Speaker 5: Than a million followers because they do these great educational

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Speaker 5: videos on periods and they're like it's white. Have you

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Speaker 5: seen like how the period cups fold so like they're silicon,

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Speaker 5: and like there's like so many different folds you can do,

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Speaker 5: and like, yeah, you probably do have to get a

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Speaker 5: little bit comfortable with like your own body to do this.

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Speaker 5: But like, once I worked out the fold that worked

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Speaker 5: for me, we are golden. We are good to go

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Speaker 5: and it is perfect.

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Speaker 1: Yeah, and it's just a one soft purchase.

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Speaker 5: Yeah, wait until the period cup is on sale because

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Speaker 5: I believe it's about thirty ish dollars and at Chemists Warehouse.

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Speaker 5: This is not an ad from Oxy at all, but

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Speaker 5: like this is I've tried a lot of them, and

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Speaker 5: I like the silicon on this one best because it's

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Speaker 5: like the softest, Like it just it squishes more. I

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Speaker 5: don't know how to explain it better than that it

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Speaker 5: squishes more and it has this again weird. But you guys,

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Speaker 5: I'm pretty sure ninety nine percent of our listeners of females,

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Speaker 5: So you're going to appreciate this. It has this ribbing

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Speaker 5: at the bottom of the cup, so when you're grabbing

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Speaker 5: it to pull out, it like has a grip.

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Speaker 3: Yeah, we love a grip.

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Speaker 5: It just makes sense. So all of that works. But

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Speaker 5: they often go on sale at Chemist ware House.

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Speaker 1: Great to know to see that they sell period undies

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00:15:42,480 --> 00:15:46,240
Speaker 1: at the Chemists now too, you can only get them online.

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Speaker 1: It might have actually been Chemists ware House. I'm not

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Speaker 1: one hundred percent sure on that, but.

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Speaker 5: I definitely saying them at Chemist whare House. Yeah, and

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Speaker 5: I saw period undies in the store and I.

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Speaker 1: Was like, oh, that's so cool.

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Speaker 6: I'm pretty sure I've seen them in the middle aisle

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Speaker 6: the specializes all Oh, of course.

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Speaker 7: I love it.

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Speaker 2: I love it.

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Speaker 5: And if you're someone who I just feel like giving

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00:16:04,200 --> 00:16:06,640
Speaker 5: it a crack is a good idea because I think

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00:16:06,720 --> 00:16:09,480
Speaker 5: so many times will go oh no, yes, maybe, And

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Speaker 5: like I've had this discussion with girlfriends who are like,

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Speaker 5: ill a period cup and I'm like, it is the

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Speaker 5: love of my life, Like this, I won't go into

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Speaker 5: it too much, but like I bleed through tampons, like

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Speaker 5: it's just not a fun time and this just she's tidy,

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Speaker 5: she's nice. You can change it in the shower. It's

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Speaker 5: a good experience.

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Speaker 3: Absolutely.

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Speaker 1: I love your Body Body undies. If anyone wants recommendation Bodybody,

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Speaker 1: Muddy Body, I think, yeah, the body Body ones are

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Speaker 1: the way really I have as well? Is that the

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Speaker 1: one with an eye at the Yeah, I'm od I

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Speaker 1: think I've seen that.

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00:16:41,200 --> 00:16:43,400
Speaker 3: Yeah, okay, I've tried, but they're good.

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00:16:43,720 --> 00:16:44,920
Speaker 1: Good to know, thank you.

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00:16:45,200 --> 00:16:47,520
Speaker 5: I've tried a couple of other brands because I've been

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00:16:47,880 --> 00:16:50,320
Speaker 5: very grateful to have been sent them before, but you

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00:16:50,360 --> 00:16:52,680
Speaker 5: wouldn't have seen me post about them because like the

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00:16:52,720 --> 00:16:55,440
Speaker 5: Body Body ones very comfortable are the ones that I

399
00:16:55,480 --> 00:16:58,440
Speaker 5: have historically been sent to try kind of feel a

400
00:16:58,480 --> 00:17:00,040
Speaker 5: little like they have a plastic.

401
00:16:59,680 --> 00:17:00,280
Speaker 3: Lining in them.

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00:17:00,360 --> 00:17:01,880
Speaker 1: They just like cool.

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00:17:02,000 --> 00:17:05,080
Speaker 5: I've noticed that and that's not very fun. So like

404
00:17:05,160 --> 00:17:07,480
Speaker 5: the mudibody ones don't have that. I feel like there

405
00:17:07,480 --> 00:17:09,760
Speaker 5: are one hundred percent cotton and very comfortable.

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00:17:09,840 --> 00:17:13,200
Speaker 1: Like they don't give that weird heavy one because they do,

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00:17:13,320 --> 00:17:16,359
Speaker 1: which I also we've fully gone off on period, but

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00:17:16,480 --> 00:17:19,240
Speaker 1: they do different flow like there's a lot of medium

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00:17:19,240 --> 00:17:21,320
Speaker 1: heavy or something, and even the heavy duty one.

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00:17:21,240 --> 00:17:22,320
Speaker 3: It doesn't feel like that.

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00:17:22,560 --> 00:17:24,159
Speaker 1: Yeah, what I would do at night, I was like

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00:17:24,440 --> 00:17:27,040
Speaker 1: it feels thicker, but it's still comfortable and it's not

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00:17:27,359 --> 00:17:29,640
Speaker 1: crinkly like you were saying, yeah, which I think is good.

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00:17:30,400 --> 00:17:30,840
Speaker 3: Check it out.

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00:17:31,080 --> 00:17:31,480
Speaker 5: I love it.

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Speaker 1: Great to know how good body body.

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00:17:33,960 --> 00:17:36,320
Speaker 6: And this next one comes from Meal who says, if

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00:17:36,359 --> 00:17:38,840
Speaker 6: you have a chronic condition, you're likely eligible for an

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00:17:38,920 --> 00:17:43,920
Speaker 6: enhanced primary care plan. They're amazing, five government funded visits

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Speaker 6: with an allied health professional, example, exercise.

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00:17:46,880 --> 00:17:48,399
Speaker 3: Very cool things like that.

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Speaker 6: So that's great to know if you are currently suffering

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00:17:52,840 --> 00:17:55,960
Speaker 6: from or struggling with chronic health condition, definitely check that out.

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00:17:56,119 --> 00:17:58,600
Speaker 3: Yeah, very cool. And then this last one obviously is

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00:17:58,760 --> 00:18:01,320
Speaker 3: from myself a my friend.

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00:18:02,240 --> 00:18:06,800
Speaker 6: So a cheaper alternative for your soda streams of the world,

427
00:18:07,520 --> 00:18:12,520
Speaker 6: Billy Bubbles, soda gas refills at your doorstep. I recommend

428
00:18:12,760 --> 00:18:15,520
Speaker 6: just having a little Google because soda stream. I love

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00:18:15,560 --> 00:18:20,200
Speaker 6: a soda stream, but I don't think I'm spending I

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00:18:20,280 --> 00:18:23,040
Speaker 6: know it's really bad for the environment, but I think

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00:18:23,119 --> 00:18:28,040
Speaker 6: I'm not drinking enough soda water or soda drinks to kind.

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00:18:27,920 --> 00:18:28,879
Speaker 3: Of like justify that.

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00:18:29,160 --> 00:18:29,439
Speaker 1: I am.

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Speaker 5: I absolutely am bubbly water every day. We've callt spicy

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00:18:33,080 --> 00:18:36,320
Speaker 5: water in our house, and like I swear it's the

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00:18:36,359 --> 00:18:37,760
Speaker 5: primary type of water I drink.

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Speaker 3: Yeah, it's my favorite. I love sparkling water.

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Speaker 6: But I just don't know if I'm yeah drinking enough

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00:18:44,920 --> 00:18:47,240
Speaker 6: to warrant that. But I think if you are, or

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00:18:47,320 --> 00:18:49,800
Speaker 6: if you have a soda stream, you're just very environmentally

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Speaker 6: conscious and you can afford it.

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Speaker 3: Yeah, do check out this other one.

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Speaker 5: It is, yeah, because they do the refills that fit

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00:18:54,880 --> 00:18:56,919
Speaker 5: in the soda stream and they're just cheaper and they

445
00:18:57,040 --> 00:18:59,120
Speaker 5: drop it to your door and that's a win easy.

446
00:18:59,200 --> 00:19:01,680
Speaker 3: I know that because I Billy Bubbles dot Com.

447
00:19:02,480 --> 00:19:04,320
Speaker 5: Well, good work there, go all right, Well, let's go

448
00:19:04,400 --> 00:19:06,040
Speaker 5: to a really quick break on the flip side. You

449
00:19:06,119 --> 00:19:08,640
Speaker 5: and I are going to have a deep discussion about

450
00:19:08,720 --> 00:19:12,640
Speaker 5: negotiating a better hourly wage rate. And you guys slid

451
00:19:12,720 --> 00:19:15,960
Speaker 5: into our DMS this week about should you move away

452
00:19:16,080 --> 00:19:18,080
Speaker 5: from your family and friends so that you can buy

453
00:19:18,520 --> 00:19:21,840
Speaker 5: a whole house outright and live completely debt free? Which

454
00:19:23,119 --> 00:19:25,600
Speaker 5: I need a lot of context here, so guys don't

455
00:19:25,600 --> 00:19:26,159
Speaker 5: go anywhere.

456
00:19:30,480 --> 00:19:33,080
Speaker 1: Welcome back, everybody. Let's take a listen to this week's

457
00:19:33,119 --> 00:19:33,840
Speaker 1: money dilemma.

458
00:19:36,320 --> 00:19:38,680
Speaker 5: Hi, there, have you got a money dilemma you just

459
00:19:38,760 --> 00:19:41,240
Speaker 5: can't solve the She's on the money team is here

460
00:19:41,320 --> 00:19:44,520
Speaker 5: to help. Every week, we tackle your dilemmas, both big

461
00:19:44,600 --> 00:19:47,280
Speaker 5: and small, to answer your most burning money, career and

462
00:19:47,359 --> 00:19:50,520
Speaker 5: life questions. To get involved, simply head to our website

463
00:19:50,560 --> 00:19:52,639
Speaker 5: and leave us a short voice recording and you might

464
00:19:52,760 --> 00:19:54,000
Speaker 5: just find yourself on the show.

465
00:19:54,440 --> 00:19:57,080
Speaker 1: Now, let's take a listen to this week's money dilemma.

466
00:20:00,160 --> 00:20:03,000
Speaker 7: She's on the money. I would love to ask a

467
00:20:03,240 --> 00:20:07,679
Speaker 7: question about negotiating a new hourly rate. So I'm an

468
00:20:07,720 --> 00:20:11,359
Speaker 7: earth mover, been an earth mover for four years. I

469
00:20:11,480 --> 00:20:14,000
Speaker 7: love it, I love the money, I love everything about it.

470
00:20:14,400 --> 00:20:17,480
Speaker 7: But I'm listed as a laborer at the moment, which

471
00:20:17,560 --> 00:20:20,879
Speaker 7: is a CW three, and I've just been gifted my

472
00:20:21,119 --> 00:20:24,760
Speaker 7: very own machine, which is a CW five. There's a

473
00:20:24,920 --> 00:20:28,400
Speaker 7: massive difference in the hourly wages there which I would

474
00:20:28,520 --> 00:20:30,600
Speaker 7: love to be able to ask my boss if I

475
00:20:30,640 --> 00:20:35,760
Speaker 7: can negotiate something in the middle. A CW three and

476
00:20:35,840 --> 00:20:41,159
Speaker 7: a CW five has got roughly twenty to twenty five dollars.

477
00:20:40,840 --> 00:20:45,159
Speaker 3: Different an hour. That's a lot of money I'm losing

478
00:20:45,320 --> 00:20:47,560
Speaker 3: each week and each year.

479
00:20:48,840 --> 00:20:51,040
Speaker 7: Is there any little way that you've got that I

480
00:20:51,160 --> 00:20:54,680
Speaker 7: can maybe ask my boss in regards with negotiating a

481
00:20:54,760 --> 00:20:58,320
Speaker 7: new hourly rate. Thanks love you guys.

482
00:21:01,960 --> 00:21:04,720
Speaker 5: Oh my goodness, Oh my goodness, do you I'm not

483
00:21:04,800 --> 00:21:06,280
Speaker 5: evening to jump in here barecas shoes?

484
00:21:06,359 --> 00:21:06,520
Speaker 6: She do.

485
00:21:08,720 --> 00:21:09,440
Speaker 1: Actually, this is great.

486
00:21:09,480 --> 00:21:12,040
Speaker 6: This is a great timing because I literally just asked

487
00:21:12,400 --> 00:21:16,880
Speaker 6: my boss yesterday. I didn't ask for the exact same thing.

488
00:21:16,920 --> 00:21:18,399
Speaker 6: I just said, how do I go about doing this?

489
00:21:18,640 --> 00:21:22,639
Speaker 6: And then she said, if you come prepared, And I

490
00:21:22,720 --> 00:21:23,960
Speaker 6: feel like Victoria, you would.

491
00:21:23,960 --> 00:21:25,800
Speaker 3: Say this is a similar thing. It wasn't me.

492
00:21:25,880 --> 00:21:27,320
Speaker 5: I'm not the boss, she asked, No.

493
00:21:27,480 --> 00:21:31,240
Speaker 6: Different, boss, come prepared with your I don't really I

494
00:21:31,280 --> 00:21:33,359
Speaker 6: don't really like this. I feel like the cost of

495
00:21:33,440 --> 00:21:35,560
Speaker 6: living right now is so expensive it should just kind

496
00:21:35,600 --> 00:21:38,960
Speaker 6: of be by default. But you come prepared with your performance,

497
00:21:39,560 --> 00:21:42,200
Speaker 6: you know, like why you are deserving and all this

498
00:21:42,359 --> 00:21:44,680
Speaker 6: kind of thing. Why am I deserving to be able

499
00:21:44,720 --> 00:21:49,600
Speaker 6: to afford bond? Soy over the home brand Soy milk ridiculous.

500
00:21:49,840 --> 00:21:50,879
Speaker 6: I don't like it anyway.

501
00:21:50,880 --> 00:21:53,639
Speaker 3: I'm literally getting my head is getting tired right now.

502
00:21:53,640 --> 00:21:55,399
Speaker 3: I'm very angry. So I don't think that that anyone

503
00:21:55,440 --> 00:21:55,840
Speaker 3: needs to do that.

504
00:21:55,920 --> 00:21:57,240
Speaker 1: But if that's what you gotta do, if you're going

505
00:21:57,280 --> 00:21:58,320
Speaker 1: to play the game to try.

506
00:21:58,200 --> 00:21:59,760
Speaker 6: And like get by and leave it a little bit

507
00:22:00,160 --> 00:22:02,520
Speaker 6: more of a comfortable life. Yeah, I think I would

508
00:22:02,560 --> 00:22:04,840
Speaker 6: just kind of do that. I don't really know if

509
00:22:04,880 --> 00:22:08,080
Speaker 6: that's I've never really done this, I'm not really. I

510
00:22:08,119 --> 00:22:11,000
Speaker 6: would always say, obviously, come prepared. It annoys me that

511
00:22:11,080 --> 00:22:13,480
Speaker 6: your boss is like, well, come prepared with your performance.

512
00:22:13,880 --> 00:22:14,240
Speaker 1: She can't.

513
00:22:15,240 --> 00:22:16,480
Speaker 5: My manager didn't do.

514
00:22:16,520 --> 00:22:17,960
Speaker 3: You know, my performance?

515
00:22:18,080 --> 00:22:21,480
Speaker 5: I don't see, like I know, I don't know. I

516
00:22:21,600 --> 00:22:23,440
Speaker 5: just have a lot of thoughts and feelings about things

517
00:22:23,640 --> 00:22:27,600
Speaker 5: like that, which we will leave for another time. We've

518
00:22:27,680 --> 00:22:30,800
Speaker 5: done whole episodes on negotiating your salary, which, honestly, Beck

519
00:22:30,840 --> 00:22:32,560
Speaker 5: you should go and listen to. Some of them were

520
00:22:32,760 --> 00:22:35,879
Speaker 5: pre you being on the show, and that could actually

521
00:22:35,960 --> 00:22:39,320
Speaker 5: benefit you. I know Jess is probably going to have

522
00:22:39,359 --> 00:22:42,120
Speaker 5: an answer similar to mine, because I mean we've worked

523
00:22:42,119 --> 00:22:44,879
Speaker 5: together for like five years now, which is insane.

524
00:22:45,880 --> 00:22:46,520
Speaker 3: Just what would you do?

525
00:22:46,800 --> 00:22:51,240
Speaker 1: So it sounds like within your role, there's obviously clear

526
00:22:51,760 --> 00:22:54,560
Speaker 1: guidelines as to what categorizes you into the different things

527
00:22:54,640 --> 00:22:56,880
Speaker 1: like obviously you've said that you've been given your own machine,

528
00:22:56,880 --> 00:22:59,520
Speaker 1: which is really exciting, so that puts you in the

529
00:22:59,800 --> 00:23:00,560
Speaker 1: high category.

530
00:23:00,720 --> 00:23:01,200
Speaker 2: W five.

531
00:23:01,840 --> 00:23:03,800
Speaker 1: I would just cross check that you're ticking all of

532
00:23:03,840 --> 00:23:06,320
Speaker 1: the other markers for a W five because typically when

533
00:23:06,359 --> 00:23:09,000
Speaker 1: you have salary bands like this, it's outlined.

534
00:23:10,080 --> 00:23:12,920
Speaker 5: Yeah, there's like what's the word award that's it, or

535
00:23:13,080 --> 00:23:16,919
Speaker 5: like ban Yeah, there might be a job description or something.

536
00:23:17,080 --> 00:23:19,760
Speaker 5: Maybe you know somebody at that higher job description that

537
00:23:19,840 --> 00:23:22,520
Speaker 5: could provide you with their job description, so you could

538
00:23:22,600 --> 00:23:25,080
Speaker 5: like cross check, yeah, there's a go to your manager.

539
00:23:25,359 --> 00:23:28,760
Speaker 1: There's a really good guide to awards on the Fairwork website.

540
00:23:28,840 --> 00:23:33,119
Speaker 1: There's actually a huge document that outlines every award that exists.

541
00:23:33,560 --> 00:23:36,119
Speaker 1: So you can go to their and you can search

542
00:23:36,280 --> 00:23:38,200
Speaker 1: by award or you can search by job. It's like

543
00:23:38,240 --> 00:23:39,720
Speaker 1: there's a lot of different ways you can filter it

544
00:23:39,960 --> 00:23:41,800
Speaker 1: and you can go through and you can find specifically

545
00:23:41,880 --> 00:23:43,960
Speaker 1: what the W five is. Cross check that you're taking

546
00:23:43,960 --> 00:23:46,000
Speaker 1: all the markers. If you're ticking all the markers, I

547
00:23:46,040 --> 00:23:47,160
Speaker 1: would say, don't negotiate.

548
00:23:47,280 --> 00:23:50,639
Speaker 5: Oh we're not negotiating W five babe, Like go for them.

549
00:23:50,720 --> 00:23:52,840
Speaker 5: We're not just going for it, We're just letting our

550
00:23:52,920 --> 00:23:56,440
Speaker 5: boss know. I think there's been an issue and I'm

551
00:23:56,520 --> 00:23:59,760
Speaker 5: meant to be on W five. I actually I feel

552
00:23:59,800 --> 00:24:02,439
Speaker 5: bad about it. I checked absolutely everything and I am

553
00:24:03,040 --> 00:24:05,719
Speaker 5: so could you just fix that up and see how

554
00:24:05,760 --> 00:24:08,880
Speaker 5: that conversation goes, because that's a different conversation than negotiating

555
00:24:08,960 --> 00:24:09,159
Speaker 5: to be.

556
00:24:09,240 --> 00:24:10,879
Speaker 3: On a rate that you should already have been.

557
00:24:10,800 --> 00:24:14,040
Speaker 6: On and then get that's a great idea because now

558
00:24:14,200 --> 00:24:16,200
Speaker 6: they're in the position where they have to then tell

559
00:24:16,240 --> 00:24:18,280
Speaker 6: you you're not and then explain.

560
00:24:18,119 --> 00:24:20,879
Speaker 3: Why you're not deserving of that or why you do not.

561
00:24:21,440 --> 00:24:24,199
Speaker 5: So am I not doing the capabilities that I already

562
00:24:24,240 --> 00:24:25,879
Speaker 5: cross checked and confirmed that I do.

563
00:24:26,119 --> 00:24:26,760
Speaker 3: That's great.

564
00:24:27,000 --> 00:24:29,040
Speaker 5: Did you want me to not do those things here

565
00:24:29,200 --> 00:24:29,919
Speaker 5: in this business?

566
00:24:30,240 --> 00:24:32,400
Speaker 3: Actually take some things off my plate in that case?

567
00:24:32,480 --> 00:24:32,680
Speaker 7: Yeah?

568
00:24:32,880 --> 00:24:35,439
Speaker 1: Weird. It does change the dynamic.

569
00:24:35,520 --> 00:24:37,800
Speaker 5: And I think as women, we automatically go, I really

570
00:24:37,840 --> 00:24:40,240
Speaker 5: should talk to them about this, or you know, in

571
00:24:40,320 --> 00:24:42,680
Speaker 5: the nicest possible way, I should negotiate it. Hold on,

572
00:24:42,760 --> 00:24:45,760
Speaker 5: there are some things that aren't about negotiating, which we

573
00:24:45,800 --> 00:24:48,720
Speaker 5: should have as a good skill. There are some things

574
00:24:48,760 --> 00:24:50,840
Speaker 5: that we actually need to just back ourselves and be like, hey,

575
00:24:50,960 --> 00:24:53,440
Speaker 5: business like this is actually incorrect and you need to

576
00:24:53,480 --> 00:24:55,720
Speaker 5: fix it, and then let them squirm.

577
00:24:56,080 --> 00:24:59,080
Speaker 1: Yeah yeah, but I, as you said, come prepare, do

578
00:24:59,200 --> 00:25:00,879
Speaker 1: all you do, diligent, make sure you are to hear

579
00:25:00,960 --> 00:25:02,520
Speaker 1: those boxes. If you're not to hear all the boxes

580
00:25:02,520 --> 00:25:04,480
Speaker 1: with W five. Then maybe you can name for somewhere

581
00:25:04,480 --> 00:25:06,600
Speaker 1: in the middle, or do exactly as Beck did and say, hey,

582
00:25:06,880 --> 00:25:08,800
Speaker 1: what do I need to do to get there? Yes,

583
00:25:09,119 --> 00:25:10,280
Speaker 1: but yeah, just approaching them.

584
00:25:10,400 --> 00:25:12,280
Speaker 5: Also, you and I we can sit down later, Beck

585
00:25:12,440 --> 00:25:14,240
Speaker 5: and we can work out what you can say to

586
00:25:14,280 --> 00:25:16,200
Speaker 5: your other boss about getting that pay rice.

587
00:25:16,480 --> 00:25:16,760
Speaker 3: Thank you.

588
00:25:17,240 --> 00:25:19,440
Speaker 5: I will literally be like, okay, cool, So this is

589
00:25:19,440 --> 00:25:21,239
Speaker 5: what you're going to take. The first thing I'm going

590
00:25:21,320 --> 00:25:23,800
Speaker 5: to tell you to go and find is the Hayes

591
00:25:24,040 --> 00:25:28,440
Speaker 5: Salary Guide. So that's downloadable online for free, massive pdf.

592
00:25:28,520 --> 00:25:31,200
Speaker 5: You're going to have to control F to find your job, sure,

593
00:25:31,320 --> 00:25:34,159
Speaker 5: but my favorite thing about that guide is it's I

594
00:25:34,280 --> 00:25:37,440
Speaker 5: think it is the biggest recruitment guide in Australia. And

595
00:25:37,480 --> 00:25:39,320
Speaker 5: when I say biggest, I mean it has the biggest

596
00:25:39,480 --> 00:25:42,560
Speaker 5: sample size, so the most amount of like people in

597
00:25:42,680 --> 00:25:46,159
Speaker 5: its thousands. But you can control F your job, and

598
00:25:46,240 --> 00:25:48,560
Speaker 5: then once you find your job, you can then look

599
00:25:48,600 --> 00:25:52,280
Speaker 5: at it based on the different states and territories and

600
00:25:52,400 --> 00:25:55,399
Speaker 5: then the years of experience and what your salary should

601
00:25:55,440 --> 00:26:02,000
Speaker 5: look like. Hy s Hayes oh hellary Guide, and yeah,

602
00:26:02,160 --> 00:26:04,520
Speaker 5: go from there. That's something that I've been recommending four

603
00:26:04,600 --> 00:26:07,160
Speaker 5: years and it's something that I use. You know, if

604
00:26:07,160 --> 00:26:09,880
Speaker 5: I'm looking at pulling a new role into the business,

605
00:26:10,359 --> 00:26:13,560
Speaker 5: I'm looking everywhere. I'm looking on seek, I'm looking on LinkedIn,

606
00:26:13,800 --> 00:26:17,160
Speaker 5: I'm checking other job descriptions, making sure that you know one.

607
00:26:17,280 --> 00:26:20,720
Speaker 5: I'm capturing everything I need to. But is the salary reflective?

608
00:26:21,000 --> 00:26:22,680
Speaker 5: And then I go to the Hayes Salary Guide and

609
00:26:22,760 --> 00:26:26,119
Speaker 5: work out what would be reasonable and what is like not.

610
00:26:26,880 --> 00:26:29,560
Speaker 5: And even if someone comes to me and says like, oh,

611
00:26:30,200 --> 00:26:33,480
Speaker 5: I would want salary X, but my salary is higher,

612
00:26:33,480 --> 00:26:36,080
Speaker 5: I'll be like, well, your salary is actually worth more. Sorry,

613
00:26:36,240 --> 00:26:37,800
Speaker 5: Like I'm not going to pay you less just because

614
00:26:37,800 --> 00:26:41,400
Speaker 5: you suggested less. Like I'd be so embarrassed. So yeah,

615
00:26:41,560 --> 00:26:44,240
Speaker 5: that for me is like I won't say the Golden ticket,

616
00:26:44,359 --> 00:26:48,040
Speaker 5: but a really cool tool. And if you want to,

617
00:26:48,760 --> 00:26:51,680
Speaker 5: you could say to your manager and like this is

618
00:26:51,760 --> 00:26:54,919
Speaker 5: just side advice. We could write a really nice email

619
00:26:55,000 --> 00:26:58,840
Speaker 5: that outlines everything and says, hey, YEP, I took your advice.

620
00:26:58,840 --> 00:27:00,879
Speaker 5: I've gone and done my research. I've gotten all of

621
00:27:00,960 --> 00:27:03,480
Speaker 5: my stuff together. I wanted to provide you all this

622
00:27:03,600 --> 00:27:07,000
Speaker 5: information before our meeting. Here's all the information on my performance.

623
00:27:07,119 --> 00:27:10,040
Speaker 5: Here's how I have excelled, because sometimes these conversations are

624
00:27:10,119 --> 00:27:12,719
Speaker 5: really hard to have in person, like because you might

625
00:27:12,840 --> 00:27:15,320
Speaker 5: fumble it or be really anxious. Right, So we're going

626
00:27:15,400 --> 00:27:19,120
Speaker 5: to do this nice email. Also, I've checked the Hay salary.

627
00:27:19,200 --> 00:27:23,960
Speaker 5: Glad I've attached it for your convenience, and my salary

628
00:27:24,440 --> 00:27:27,240
Speaker 5: could be or should be about here. Let's have a

629
00:27:27,320 --> 00:27:29,680
Speaker 5: meeting next week to discuss all of this. So they're

630
00:27:29,720 --> 00:27:32,840
Speaker 5: getting all of the information that they need and know

631
00:27:33,000 --> 00:27:36,520
Speaker 5: what you're asking for to begin with. And it's literally

632
00:27:36,600 --> 00:27:40,000
Speaker 5: what we're saying before about this C five thing. We're

633
00:27:40,080 --> 00:27:43,439
Speaker 5: putting the control back in your hands because they're going

634
00:27:43,520 --> 00:27:44,680
Speaker 5: to have to come back and be like, no, you

635
00:27:44,760 --> 00:27:46,800
Speaker 5: don't do these things. But what you think it was

636
00:27:46,840 --> 00:27:48,880
Speaker 5: a five minute email? No, that was a very well

637
00:27:48,880 --> 00:27:51,280
Speaker 5: where researched email. To make sure that I'm not sending

638
00:27:51,320 --> 00:27:54,040
Speaker 5: you a hopeful I'm being like, hey, cool, you told

639
00:27:54,080 --> 00:27:55,840
Speaker 5: me to look at my performance. I actually did, and

640
00:27:55,880 --> 00:27:56,840
Speaker 5: I'm above and beyond.

641
00:27:57,040 --> 00:27:57,240
Speaker 1: Yeah.

642
00:27:57,920 --> 00:27:59,840
Speaker 5: Yeah, they have to come back and say, oh, no

643
00:28:00,200 --> 00:28:02,119
Speaker 5: we can't and what not. But it puts you in

644
00:28:02,200 --> 00:28:03,280
Speaker 5: a much stronger position.

645
00:28:03,920 --> 00:28:07,639
Speaker 6: Gorgeous advice say less baby, Yeah, I love that, thank you.

646
00:28:08,280 --> 00:28:09,000
Speaker 3: That is okay?

647
00:28:09,560 --> 00:28:12,840
Speaker 5: Moving on juicy DM, and I say juicy because I'm

648
00:28:12,880 --> 00:28:14,120
Speaker 5: just like, how can you afford.

649
00:28:13,840 --> 00:28:15,600
Speaker 3: A house outright? So would you like to hear it?

650
00:28:15,800 --> 00:28:17,840
Speaker 1: Yes? Yes, Hey, she's on the money.

651
00:28:17,920 --> 00:28:20,479
Speaker 5: We are currently renting out our property to live closer

652
00:28:20,520 --> 00:28:22,400
Speaker 5: to my work while the kids are young.

653
00:28:22,720 --> 00:28:23,520
Speaker 3: Fifoux Worker.

654
00:28:24,200 --> 00:28:26,600
Speaker 5: It was never our dream home, but it's a good

655
00:28:26,640 --> 00:28:30,680
Speaker 5: house with nice memories. Now prices have boomed and there's

656
00:28:30,720 --> 00:28:33,480
Speaker 5: a lot of equity sitting in it. If we sold today,

657
00:28:33,640 --> 00:28:37,480
Speaker 5: we'd walk away with six hundred grand cash after expenses.

658
00:28:38,240 --> 00:28:40,640
Speaker 5: The thing is, do we sell them buy something else

659
00:28:40,760 --> 00:28:43,280
Speaker 5: in that budget? To be debt free To buy the

660
00:28:43,320 --> 00:28:45,960
Speaker 5: property we actually want, we'd need to move into state,

661
00:28:46,080 --> 00:28:48,720
Speaker 5: away from family and friends, as that's where homes in

662
00:28:48,760 --> 00:28:51,239
Speaker 5: our price range are. But being debt free could mean

663
00:28:51,360 --> 00:28:54,600
Speaker 5: quitting FIVEFO and being around the kids more while living

664
00:28:54,680 --> 00:28:58,120
Speaker 5: in a dreamy location. All the investment strategies say to

665
00:28:58,240 --> 00:29:00,840
Speaker 5: use the equity to buy something else renting it out,

666
00:29:00,960 --> 00:29:03,880
Speaker 5: but it's not a good rental. It costs more than

667
00:29:03,920 --> 00:29:06,840
Speaker 5: it makes, and then we just have more debt. What

668
00:29:06,920 --> 00:29:07,680
Speaker 5: would you guys do?

669
00:29:08,040 --> 00:29:14,160
Speaker 6: I wouldn't ever prioritize It really is a struggle because

670
00:29:14,200 --> 00:29:16,360
Speaker 6: both what I was about to say was like I

671
00:29:16,400 --> 00:29:19,080
Speaker 6: wouldn't prioritize something over a lifestyle or like, But then

672
00:29:19,120 --> 00:29:22,880
Speaker 6: I guess either scenario is lifestyle. It's like spend time

673
00:29:22,920 --> 00:29:26,160
Speaker 6: with your family and don't have to work as much

674
00:29:26,520 --> 00:29:29,360
Speaker 6: and move away from your friends and all.

675
00:29:29,280 --> 00:29:31,680
Speaker 3: That kind of stuff. But I'm just sure there's a

676
00:29:31,800 --> 00:29:36,120
Speaker 3: middle ground. Like say, for example, we're here in Melbourne.

677
00:29:36,480 --> 00:29:38,920
Speaker 3: I could not with that money be able to.

678
00:29:38,960 --> 00:29:43,200
Speaker 6: Afford a four bedroom house in Brunswick, but maybe I

679
00:29:43,240 --> 00:29:46,000
Speaker 6: could in Reservoir. I'm not that far away from my friends.

680
00:29:46,360 --> 00:29:49,160
Speaker 6: And maybe I'm not buying it outright. Maybe I've just

681
00:29:49,240 --> 00:29:52,440
Speaker 6: got a two hundred thousand dollars mortgage. I'm just I

682
00:29:52,440 --> 00:29:54,240
Speaker 6: don't know if that's actually how it works, but a

683
00:29:54,320 --> 00:29:56,520
Speaker 6: smaller mortgage, just like you don't have to you don't

684
00:29:56,520 --> 00:29:58,360
Speaker 6: have to go buy it completely out right.

685
00:29:58,760 --> 00:30:00,120
Speaker 1: Just get somethings, maybe even a lit do.

686
00:30:00,200 --> 00:30:02,040
Speaker 6: We more than that, and you can be close to

687
00:30:02,120 --> 00:30:04,520
Speaker 6: your friends and family, you don't have to work as much,

688
00:30:04,880 --> 00:30:06,560
Speaker 6: you spend time with your kids.

689
00:30:06,800 --> 00:30:07,720
Speaker 1: Like everything's good.

690
00:30:07,800 --> 00:30:09,480
Speaker 6: Maybe just get like a part time job, also like

691
00:30:09,760 --> 00:30:12,320
Speaker 6: not working at all, Not that that's what they're suggesting,

692
00:30:12,440 --> 00:30:15,640
Speaker 6: but it sounds great, But when you're sometimes you and

693
00:30:15,720 --> 00:30:17,640
Speaker 6: you leave for too long and you're like, I'm desperately

694
00:30:17,800 --> 00:30:20,600
Speaker 6: bored and sad and lonely, and so there might be

695
00:30:20,800 --> 00:30:22,959
Speaker 6: this nice balance in between that we're not looking at.

696
00:30:23,120 --> 00:30:25,880
Speaker 6: So you know, have a look at places around you

697
00:30:26,440 --> 00:30:29,560
Speaker 6: just slightly outside your zone, but you're close to your

698
00:30:29,640 --> 00:30:32,280
Speaker 6: friends still, and you're close to your lifestyle. You're close

699
00:30:32,320 --> 00:30:35,400
Speaker 6: to the schools, and you're close to everything you know,

700
00:30:35,920 --> 00:30:39,280
Speaker 6: and even if you need a little mortgage, it's okay?

701
00:30:39,640 --> 00:30:40,360
Speaker 5: Is that right?

702
00:30:40,440 --> 00:30:42,160
Speaker 3: Am I right in saying that? Is that a possibility

703
00:30:42,160 --> 00:30:43,520
Speaker 3: that you get a little mortgage to something?

704
00:30:43,640 --> 00:30:43,840
Speaker 1: Yeah?

705
00:30:44,240 --> 00:30:44,400
Speaker 7: Cool?

706
00:30:44,480 --> 00:30:47,320
Speaker 1: Yeah, it's all dependent on what they purchase. So as

707
00:30:47,360 --> 00:30:50,000
Speaker 1: to say our listeners saying that they to purchase a

708
00:30:50,080 --> 00:30:52,560
Speaker 1: home within their price range their meaning within the cash

709
00:30:52,640 --> 00:30:54,560
Speaker 1: that they have, so at around the six hundred thousand

710
00:30:54,560 --> 00:30:56,800
Speaker 1: dollar marks. Yeah, obviously we don't have any context as

711
00:30:56,840 --> 00:30:59,680
Speaker 1: to where you live or any insight into you know,

712
00:30:59,760 --> 00:31:02,360
Speaker 1: what distance is at what the price is. You know,

713
00:31:02,480 --> 00:31:04,960
Speaker 1: can you move The example you gave here Beck is

714
00:31:05,000 --> 00:31:07,040
Speaker 1: you move, you know, maybe half an hour away from

715
00:31:07,080 --> 00:31:10,000
Speaker 1: your ideal location, but the price range drops significantly. We

716
00:31:10,080 --> 00:31:12,440
Speaker 1: don't really know what that looks like for our listener. Yes,

717
00:31:12,560 --> 00:31:16,760
Speaker 1: that's I would say, you need to consider how reliant

718
00:31:16,920 --> 00:31:19,920
Speaker 1: you are on your network, like your family and your friends.

719
00:31:20,200 --> 00:31:22,400
Speaker 1: Because if you're someone who has you know, mom and

720
00:31:22,480 --> 00:31:24,400
Speaker 1: dad look after the kids a couple of days a week,

721
00:31:24,560 --> 00:31:27,040
Speaker 1: we're having dinner, you know, once or twice a week

722
00:31:27,040 --> 00:31:29,280
Speaker 1: with our friends, We've got all our regular catch ups.

723
00:31:29,680 --> 00:31:31,560
Speaker 1: I think moving away from that would be a lot.

724
00:31:31,680 --> 00:31:35,120
Speaker 1: Whereas if you find that because your five fo perhaps

725
00:31:35,160 --> 00:31:38,000
Speaker 1: you're already a little bit more isolated, the move may

726
00:31:38,080 --> 00:31:40,520
Speaker 1: not be as taxing on you, or it may not

727
00:31:40,600 --> 00:31:42,520
Speaker 1: be as hard to move away from that circle. It's

728
00:31:42,640 --> 00:31:46,080
Speaker 1: really going to depend on, like how closely I guess

729
00:31:46,120 --> 00:31:49,640
Speaker 1: you're leaning on everybody. You said that your ideal or

730
00:31:49,760 --> 00:31:52,200
Speaker 1: dreamy location. In my mind, I'm picturing you moving to

731
00:31:52,280 --> 00:31:54,120
Speaker 1: like a beach somewhere, right, Like you're moving from like

732
00:31:54,200 --> 00:31:56,760
Speaker 1: a city or a countryside town to like a beach

733
00:31:56,880 --> 00:32:00,240
Speaker 1: or something like that. And so I guess you also

734
00:32:00,280 --> 00:32:02,200
Speaker 1: have to weigh up, like the lifestyle that you would

735
00:32:02,240 --> 00:32:06,640
Speaker 1: live in this new location again against the loss of

736
00:32:06,720 --> 00:32:10,200
Speaker 1: your proximity to friends and family starting over, it might

737
00:32:10,240 --> 00:32:12,400
Speaker 1: be exciting for you like you might like the challenge.

738
00:32:12,440 --> 00:32:14,560
Speaker 1: You can make new friends in new places, Like, It's

739
00:32:14,640 --> 00:32:17,160
Speaker 1: not as if you move away and you never talk

740
00:32:17,200 --> 00:32:20,520
Speaker 1: to anybody ever. Again, family is a little bit trickier obviously,

741
00:32:20,640 --> 00:32:23,600
Speaker 1: but it really depends on you in your situation. I agree, though,

742
00:32:23,600 --> 00:32:26,640
Speaker 1: I think that being debt free is a really great

743
00:32:27,200 --> 00:32:29,440
Speaker 1: appealing thing, and I'm sure many of us would love

744
00:32:29,760 --> 00:32:31,959
Speaker 1: to never have any debt when it comes to our property.

745
00:32:32,520 --> 00:32:35,320
Speaker 1: But if you have that six hundred thousand dollars in cash,

746
00:32:35,400 --> 00:32:39,200
Speaker 1: you could potentially take a small loan with very minimal

747
00:32:39,280 --> 00:32:43,480
Speaker 1: repayments compared to what you would are paying currently and

748
00:32:44,360 --> 00:32:46,880
Speaker 1: have Yeah, that middle ground where maybe you're still within

749
00:32:46,960 --> 00:32:49,720
Speaker 1: the state or driving distance, maybe you're a couple hours

750
00:32:49,760 --> 00:32:53,040
Speaker 1: away from the people you love, but also in a

751
00:32:53,080 --> 00:32:55,640
Speaker 1: property that you love as well. Yes, I feel like

752
00:32:55,680 --> 00:32:57,560
Speaker 1: we don't eve enough details to really be able to

753
00:32:57,680 --> 00:32:58,560
Speaker 1: lack fully.

754
00:32:58,920 --> 00:32:59,520
Speaker 3: Do you know what I mean?

755
00:32:59,720 --> 00:32:59,920
Speaker 2: Yeah?

756
00:33:00,000 --> 00:33:01,560
Speaker 3: No, I totally get it.

757
00:33:01,800 --> 00:33:04,080
Speaker 5: I am like, I've been looking at it and thinking

758
00:33:04,120 --> 00:33:06,920
Speaker 5: about it, and you've just told me that essentially you

759
00:33:07,040 --> 00:33:11,440
Speaker 5: have six hundred thousand dollars in equity. Get financial advice.

760
00:33:12,080 --> 00:33:15,200
Speaker 5: Go sit down with a financial advisor and talk about

761
00:33:15,240 --> 00:33:17,680
Speaker 5: your lifestyle goals, what you want to achieve, what that's

762
00:33:17,760 --> 00:33:19,800
Speaker 5: going to look like. You know that you do want

763
00:33:19,840 --> 00:33:22,880
Speaker 5: to work less. What income requirements you have in the future, Like,

764
00:33:23,120 --> 00:33:25,560
Speaker 5: just being completely debt free doesn't mean you don't need

765
00:33:25,640 --> 00:33:27,960
Speaker 5: income coming in the door. Like just because you have

766
00:33:28,240 --> 00:33:30,400
Speaker 5: a house fully paid off doesn't mean you never work

767
00:33:30,440 --> 00:33:33,640
Speaker 5: a day in your life again unfortunately, Yeah, so what

768
00:33:33,800 --> 00:33:36,120
Speaker 5: does that look like? Because a financial advisor could sit

769
00:33:36,160 --> 00:33:38,600
Speaker 5: down and be like, okay, cool, well let's do some projections.

770
00:33:38,680 --> 00:33:41,000
Speaker 5: And as an ex financial advisor, this was one of

771
00:33:41,080 --> 00:33:44,000
Speaker 5: my favorite things. Like we would do projections based on

772
00:33:44,680 --> 00:33:47,440
Speaker 5: different scenarios, so then we could pick the scenario that

773
00:33:47,520 --> 00:33:49,920
Speaker 5: made the most sense based on that projection. So we

774
00:33:50,040 --> 00:33:52,680
Speaker 5: could project you staying in that property. We could project

775
00:33:52,720 --> 00:33:55,360
Speaker 5: you renting out that property. And I know that you're saying, oh,

776
00:33:55,400 --> 00:34:00,560
Speaker 5: that property costs more than it does yield in rent income,

777
00:34:01,360 --> 00:34:03,840
Speaker 5: which is fine, but like, what would that property be

778
00:34:04,360 --> 00:34:06,800
Speaker 5: worth in the future. What are your capital gains on

779
00:34:06,920 --> 00:34:09,520
Speaker 5: that property? You know, what are the selling costs? Back

780
00:34:09,560 --> 00:34:11,600
Speaker 5: to what you were saying, Jess, like what would childcare

781
00:34:11,680 --> 00:34:14,960
Speaker 5: look like like? All of those additional things, Because yes,

782
00:34:15,040 --> 00:34:19,120
Speaker 5: you want more freedom and flexibility, but just being completely

783
00:34:19,239 --> 00:34:21,640
Speaker 5: debt free today might not actually put you in the

784
00:34:21,719 --> 00:34:25,920
Speaker 5: wealthiest position. Long term debt free fantastic sounds incredibly sexy,

785
00:34:26,480 --> 00:34:29,360
Speaker 5: but if you've got thirty plus years of working left,

786
00:34:30,040 --> 00:34:33,279
Speaker 5: like are we investing? Like? How are we creating long

787
00:34:33,400 --> 00:34:38,200
Speaker 5: term wealth? Because extinguishing debt doesn't necessarily mean that that's

788
00:34:38,280 --> 00:34:41,200
Speaker 5: the best decision for you. Like I know that with

789
00:34:41,360 --> 00:34:45,240
Speaker 5: my mortgages, if you just extinguished one today, that like great.

790
00:34:45,040 --> 00:34:45,480
Speaker 3: No worries.

791
00:34:45,480 --> 00:34:47,400
Speaker 5: I'd love to be quote debt free on my mortgage,

792
00:34:47,760 --> 00:34:50,120
Speaker 5: But like, what am I doing with that income that's

793
00:34:50,160 --> 00:34:52,440
Speaker 5: coming in now? Like that would be the question. If

794
00:34:52,480 --> 00:34:54,720
Speaker 5: I don't have a mortgage, how am I creating wealth?

795
00:34:55,280 --> 00:34:55,320
Speaker 2: Like?

796
00:34:55,719 --> 00:34:57,520
Speaker 5: Am I investing it in the share market? Am I

797
00:34:57,600 --> 00:34:59,960
Speaker 5: buying another property? Am I building another business?

798
00:35:00,160 --> 00:35:00,200
Speaker 2: Like?

799
00:35:00,280 --> 00:35:01,520
Speaker 3: What do all these things look?

800
00:35:01,680 --> 00:35:01,719
Speaker 6: Like?

801
00:35:02,400 --> 00:35:05,120
Speaker 5: That's the question, not should I just move and be

802
00:35:05,320 --> 00:35:08,160
Speaker 5: completely debt free? Yes, you would get more time with kids,

803
00:35:08,200 --> 00:35:10,120
Speaker 5: and I totally get that because as a mum, I

804
00:35:10,200 --> 00:35:12,920
Speaker 5: want to spend the most amount of time with my baby,

805
00:35:13,480 --> 00:35:16,200
Speaker 5: but I also need to pay his school fees in

806
00:35:16,239 --> 00:35:19,759
Speaker 5: the future. I also need to create a lifestyle where

807
00:35:19,800 --> 00:35:22,399
Speaker 5: my husband and I can comfortably retire so that maybe

808
00:35:22,480 --> 00:35:24,719
Speaker 5: one day, when Harvey decides to have kids, I can

809
00:35:25,200 --> 00:35:28,560
Speaker 5: afford to give child care to my kids. Like, there's

810
00:35:28,600 --> 00:35:30,880
Speaker 5: a lot to think about, and that's probably not the

811
00:35:30,960 --> 00:35:35,120
Speaker 5: sexiest of answers. But if you are telling me that

812
00:35:35,239 --> 00:35:38,360
Speaker 5: you have six hundred thousand dollars in equity in your property,

813
00:35:38,960 --> 00:35:41,640
Speaker 5: I promise you have the cash to pay a financial

814
00:35:41,680 --> 00:35:44,600
Speaker 5: advisor in the best possible position.

815
00:35:45,080 --> 00:35:45,719
Speaker 3: That's a great point.

816
00:35:45,760 --> 00:35:46,640
Speaker 1: Whatever Bill say.

817
00:35:46,719 --> 00:35:49,640
Speaker 5: Okay, So there was a lot of opinions. So first

818
00:35:49,760 --> 00:35:52,200
Speaker 5: question we asked what would you do in you're in

819
00:35:52,280 --> 00:35:55,040
Speaker 5: this situation. Forty five percent of you said I'd sell

820
00:35:55,120 --> 00:35:57,520
Speaker 5: and be debt free. Twenty eight percent of you said

821
00:35:57,600 --> 00:36:00,560
Speaker 5: sell and get a new mortgage, three percent of you

822
00:36:00,800 --> 00:36:03,560
Speaker 5: said hold and use equity to invest in. Four percent

823
00:36:03,600 --> 00:36:06,719
Speaker 5: of you said keep renting and wait it out. We

824
00:36:06,840 --> 00:36:09,160
Speaker 5: then asked, would you move into state away from friends

825
00:36:09,200 --> 00:36:11,320
Speaker 5: and family if it meant being mortgage free and quitting

826
00:36:11,400 --> 00:36:13,960
Speaker 5: five fo to be with your family. Twenty six percent

827
00:36:14,000 --> 00:36:15,719
Speaker 5: of you said yes, it would one hundred percent be

828
00:36:15,840 --> 00:36:18,680
Speaker 5: worth it, Forty six percent of you said maybe it

829
00:36:18,719 --> 00:36:21,120
Speaker 5: would be a hard call, and twenty seven percent of

830
00:36:21,200 --> 00:36:23,360
Speaker 5: you said no, I could never leave my support system.

831
00:36:24,200 --> 00:36:27,239
Speaker 5: We then said what is your two cents? And we

832
00:36:27,320 --> 00:36:29,879
Speaker 5: had a number of good comments. So first comment said,

833
00:36:29,960 --> 00:36:32,480
Speaker 5: five FO is very challenging as a lifestyle. I've been

834
00:36:32,520 --> 00:36:35,640
Speaker 5: doing it for nine years. It's not for the faint hearted.

835
00:36:35,960 --> 00:36:39,759
Speaker 5: That's a great point, very true. But also what does

836
00:36:39,840 --> 00:36:43,000
Speaker 5: that lifestyle exchange look like? So, yes, you're changing five

837
00:36:43,080 --> 00:36:45,719
Speaker 5: FO and it is not for the faint hearted. But

838
00:36:46,480 --> 00:36:49,399
Speaker 5: often with FIVEFO you've got like five on, five off

839
00:36:49,520 --> 00:36:52,600
Speaker 5: or whatever that might look like. Is that a value

840
00:36:52,680 --> 00:36:52,840
Speaker 5: to you?

841
00:36:53,120 --> 00:36:54,560
Speaker 1: Like you enjoying that flow?

842
00:36:54,600 --> 00:36:55,200
Speaker 2: Do you know what I mean?

843
00:36:55,239 --> 00:36:57,919
Speaker 5: There's just so much to weigh up. Someone else said,

844
00:36:58,960 --> 00:37:02,239
Speaker 5: just toss a coin, the disappointment or the euphorio you

845
00:37:02,320 --> 00:37:06,080
Speaker 5: feel that the answer is going to tell you, oh great,

846
00:37:06,239 --> 00:37:07,320
Speaker 5: cal I do like that.

847
00:37:07,680 --> 00:37:08,759
Speaker 1: That's why I said it that way.

848
00:37:10,160 --> 00:37:13,520
Speaker 5: That way I think I did a funny Next person

849
00:37:13,600 --> 00:37:15,640
Speaker 5: said it's important to weigh up the other costs of

850
00:37:15,760 --> 00:37:19,839
Speaker 5: living away, which might not just be financial. Another person said,

851
00:37:19,880 --> 00:37:22,239
Speaker 5: my husband and I are working in the defense force.

852
00:37:22,640 --> 00:37:25,759
Speaker 5: We'd sell and move in a heartbeat for more family time.

853
00:37:26,400 --> 00:37:26,839
Speaker 1: It's fair.

854
00:37:27,360 --> 00:37:30,279
Speaker 5: Another person said, we moved, We're never going back. We

855
00:37:30,440 --> 00:37:33,359
Speaker 5: love our new home and our disposable income to visit

856
00:37:33,440 --> 00:37:36,400
Speaker 5: our family when we need, which is really coy and

857
00:37:36,400 --> 00:37:38,520
Speaker 5: I have no more to share with you. The next

858
00:37:38,600 --> 00:37:40,960
Speaker 5: one is you won't have that time back with your

859
00:37:41,040 --> 00:37:43,600
Speaker 5: kids if you're debt free, maybe you could save again.

860
00:37:44,239 --> 00:37:46,560
Speaker 5: And the last person said, you need to consider what

861
00:37:46,680 --> 00:37:47,640
Speaker 5: the job market.

862
00:37:47,440 --> 00:37:50,799
Speaker 3: In that new area looks like. Great point. Yeah, great point.

863
00:37:51,040 --> 00:37:52,680
Speaker 5: That's good and I feel like that's a really great

864
00:37:52,719 --> 00:37:55,759
Speaker 5: place to leave it. Interesting question, not as juicy as

865
00:37:55,760 --> 00:37:57,080
Speaker 5: I thought. I was like, what are you doing to

866
00:37:57,160 --> 00:37:59,880
Speaker 5: be completely outright, and the answer ended up being equity,

867
00:38:00,200 --> 00:38:02,000
Speaker 5: which honestly makes.

868
00:38:01,800 --> 00:38:02,520
Speaker 3: A lot of sense.

869
00:38:03,160 --> 00:38:07,200
Speaker 5: We're like yolo. Anyway, it has been a good episode, obviously.

870
00:38:07,320 --> 00:38:09,799
Speaker 5: I love hanging out with you guys. But we'll see

871
00:38:09,840 --> 00:38:11,880
Speaker 5: you next week, bright and early on Monday morning for

872
00:38:11,960 --> 00:38:14,960
Speaker 5: a money Darry. Have a good weekend, guys, By guys. Bye.

873
00:38:21,000 --> 00:38:23,560
Speaker 5: The advice shared on She's on the Money is general

874
00:38:23,600 --> 00:38:27,439
Speaker 5: in nature and does not consider your individual circumstances. She's

875
00:38:27,520 --> 00:38:30,920
Speaker 5: on the Money exists purely for educational purposes and should

876
00:38:31,000 --> 00:38:34,160
Speaker 5: not be relied upon to make an investment or financial decision.

877
00:38:34,560 --> 00:38:37,000
Speaker 5: If you do choose to buy a financial product, read

878
00:38:37,040 --> 00:38:40,280
Speaker 5: the PDS TMD and obtain appropriate financial.

879
00:38:39,960 --> 00:38:41,680
Speaker 1: Advice tailored towards your needs.

880
00:38:42,120 --> 00:38:46,000
Speaker 5: Victoria Divine and She's on the Money are authorized representatives

881
00:38:46,080 --> 00:38:49,920
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882
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Speaker 5: six four nine two seven seven zero eight AFSL four

883
00:38:53,960 --> 00:38:55,439
Speaker 5: five one two eight nine

884
00:39:00,800 --> 00:39:01,439
Speaker 6: He hear