Speaker 1: Hello.
Speaker 2: My name is Satasha Nabananga Bamblet. I'm a proud or
Speaker 2: the Order Kerni Wholbury and a waddery woman. And before
Speaker 2: we get started on She's on the Money podcast, I
Speaker 2: would like to acknowledge the traditional custodians of the land
Speaker 2: of which this podcast is recorded on a wondery country,
Speaker 2: acknowledging the elders, the ancestors and the next generation coming
Speaker 2: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 2: and the storytelling of you to make a difference for
Speaker 2: today and lasting impactful tomorrow.
Speaker 3: Let's get into it.
Speaker 4: She's on the Money, She's on the Money.
Speaker 5: Hello, and welcome to She's on the Money, the podcast
Speaker 5: that makes finance.
Speaker 3: Fun, especially on Fridays.
Speaker 5: It is our favorite day of the week because I
Speaker 5: get to get my little team together and celebrate you,
Speaker 5: our incredible Shees on the Money community. As always, mister
Speaker 5: Scricci is going to be sharing our favorite money wins
Speaker 5: and confessions from the group. Beck, I don't know, maybe
Speaker 5: you've got three broke tips to share with the community.
Speaker 1: I don't know.
Speaker 3: We'll see.
Speaker 5: We've got a juicy money dilemma this week, which is
Speaker 5: all about negotiating a better hourly wage and something that
Speaker 5: you slid into our DMS about should you move away
Speaker 5: from your family and friends so you can buy a
Speaker 5: home outright and be completely debt free.
Speaker 1: That's a big decision.
Speaker 5: And I just have a lot of questions about how
Speaker 5: you have enough money to buy a home outright? What's
Speaker 5: that look like? We need to know anyway before we
Speaker 5: get there. How are your weeks? My loves, that's been
Speaker 5: good to.
Speaker 1: The exciting happening.
Speaker 5: Just plug it along, yeah, love for you, a bit
Speaker 5: of live love, laugh, laugh, living my best sech energy.
Speaker 3: Oh that's so lovely.
Speaker 6: I had gorgeous week I had. My boss told all
Speaker 6: of us to take annually. You just putt it nice
Speaker 6: and its kind of like if you want a cancer,
Speaker 6: because like it's like good for sorry, no different boss,
Speaker 6: but it's good for the company apparently if you put
Speaker 6: your leave in and so, like I like.
Speaker 1: So they can plan I guess so.
Speaker 5: Or it's like it's financially but it's because companies don't
Speaker 5: like you accruing heaps and heaps of leave because it
Speaker 5: sits on their balance sheet as a debt. So I
Speaker 5: as an owner of a business, like I've got people
Speaker 5: in my business, and like Jess has some annual leave
Speaker 5: and it sits in my like my balance sheet has
Speaker 5: a debt because if just leaves, I have to pay
Speaker 5: her out. Yes, yes, so it's actually better for the company,
Speaker 5: like if you took some leave, because then they get
Speaker 5: rid of some of that debt.
Speaker 3: But they're just.
Speaker 5: Paying your weekly salary.
Speaker 1: That makes sense. Well, I just like sprinkle it across
Speaker 1: the ear.
Speaker 5: And so I just like happened upon like set of
Speaker 5: you know, smart about my finances when it comes to
Speaker 5: being a business. So I'm like, no, I'd never to
Speaker 5: make you take leave.
Speaker 1: Don't worry.
Speaker 5: If you want a bank leaf, bank you leaf. If
Speaker 5: you want to take your leaf, take your leave. Like
Speaker 5: I just feel like that's mean.
Speaker 1: Yeah, that's fair, that's we love a flexible queen.
Speaker 5: Ye just I hate like side note, I just hate
Speaker 5: when companies like yep, so mandatory shut down period over
Speaker 5: Christmas and then she's almost like two weeks of your
Speaker 5: own bloody leave their Christmas shutdown period and then you've
Speaker 5: only got two during the year to quote spend on
Speaker 5: new Yeah, it just makes no sense to me.
Speaker 3: No, I agree.
Speaker 6: I don't like that at all, but I do like
Speaker 6: running to leave that I forgot I had in my calendar.
Speaker 3: So yeah, that's fair. I did that.
Speaker 6: And then my friend held a whole festival for their birthday,
Speaker 6: So I sorry, it's just your.
Speaker 1: Friend held a festival.
Speaker 3: For the whole lu festival.
Speaker 6: There was like one hundred dollars prepared for two nights
Speaker 6: camping and so oh my gorgeous, gorgeous, gorgeous annually randomly
Speaker 6: had this festival, just.
Speaker 5: Been having a great week enough friends to have a
Speaker 5: festival iftial for my birthday, it would be me and
Speaker 5: just camping, that's what they would call it.
Speaker 3: They would just call it camping.
Speaker 1: I'd rather do that in a hotel if i'm wannest.
Speaker 1: Oh yeah too, me too.
Speaker 5: Yeah, Like, let's not get into that because it makes
Speaker 5: me seem incredibly out of touch.
Speaker 1: But you're right, hahh No, I completely agree. But no,
Speaker 1: so gorgeous week, what about you?
Speaker 3: I love that.
Speaker 1: Nothing interesting to report.
Speaker 5: Our Investing master Class is open, so I have been
Speaker 5: spending a lot of time in that, which is really
Speaker 5: exciting because, as you guys know, I feel like it's
Speaker 5: not a secret. The Investing master Class is my favorite
Speaker 5: of all the master classes I run.
Speaker 2: I don't know.
Speaker 5: It's my hyperfixation topic, like it's the.
Speaker 3: Love of my life.
Speaker 5: So I have been focusing on that a lot. If
Speaker 5: you dried to sneak in now, maybe you could. It's
Speaker 5: like I was meant to close the doors and stop
Speaker 5: people signing up, but I forgot to turn that off
Speaker 5: on purpose. So I'll leave that open for a little
Speaker 5: bit because I keep getting these dms of people saying like, oh,
Speaker 5: I've missed out, and like I haven't gotten in, Like
Speaker 5: maybe you could just catch up and watch the videos
Speaker 5: I've already dropped and just catch up. But I can't
Speaker 5: leave it open that much longer because otherwise it's just
Speaker 5: not fair on everyone who got in early anyway. So
Speaker 5: that's been happening and keeping me really busy. I'm a
Speaker 5: bit sad about it feeling colder in the mornings, like
Speaker 5: I feel like the coldness is starting to creep back,
Speaker 5: and I can already feel my seasonal depression starting, I see.
Speaker 3: Which I'm not adoring.
Speaker 5: But I'm trying to work out how I manage better
Speaker 5: this year than I did last year. So I'm working
Speaker 5: on that and I'll share updates if I have any gorgeous.
Speaker 5: Yes please, Yeah, so easy though, Yeah see I need
Speaker 5: to I need to reframe it. And it's cozy as
Speaker 5: opposed to cold and wet and miserable. So yeah, I'll
Speaker 5: work on that. I just need some more Beck energy
Speaker 5: in my life. Would you guys like to bring up
Speaker 5: the mood again? A five star review?
Speaker 1: Yes please?
Speaker 3: I'm excited this once from Steph.
Speaker 5: She says, I've been listening to She's on the Money
Speaker 5: for years now and it has properly changed my life,
Speaker 5: both in terms of my money mindset and in terms
Speaker 5: of mogmenting actual items. I've gone from living paycheck to
Speaker 5: paycheck when I started listening to having a very healthy superannuation.
Speaker 5: I actually moved to Australia at thirty two and didn't
Speaker 5: start contributing until thirty six. Very healthy investments and I
Speaker 5: saved an entire twenty percent house deposit, all.
Speaker 3: On my own.
Speaker 1: Wow.
Speaker 5: I cannot thank these girls enough for how much they
Speaker 5: inspire women to take charge and better their financial situations.
Speaker 5: Also low key hoping Beck is regularly investing after all
Speaker 5: this time.
Speaker 3: Hah ha.
Speaker 1: Well, thank you for your concern and I am not yet.
Speaker 1: Do you have your roundups on though I had to
Speaker 1: turn them off.
Speaker 6: Yeah, that's unfortunately, but I'm going to put them back
Speaker 6: on next piece cycle.
Speaker 5: Check and actually, how are you going? Are you buying coffees?
Speaker 5: Are you not buying coffees? I'm still not buying coffees.
Speaker 5: I was thinking the other day, Beck, when I saw
Speaker 5: you with a paper cuff in hand, I thought I'd
Speaker 5: caught you, and I.
Speaker 1: Said, Beck, is that a coffee that you bought? And
Speaker 1: you were like, no, someone bought it for me.
Speaker 3: And I was like, this, sneaky little lady. I have.
Speaker 3: I certainly have.
Speaker 1: Oh I forgot my wallet, or I don't have any
Speaker 1: money for a coffee. Oh, I'm running lant.
Speaker 5: You just work in our team, and our team I
Speaker 5: always like, do you want me to get your coffee back?
Speaker 1: Because you're not me to be buying coffee.
Speaker 6: But you know, I've I've kind of gotten really used
Speaker 6: to the flavor of a French press and I prefer
Speaker 6: it it sounds boogier, it does seven bucks and came
Speaker 6: out and pressing this thing down boom.
Speaker 5: Don't tell them that's career, that's true, that's true. Secret
Speaker 5: so they can do it as well. But like such
Speaker 5: money Whinger's seven Bucks from came out. That's literally a
Speaker 5: late in Glenaris, like be real genuinely.
Speaker 6: Yeah, exactly, yeah when you put it like that, Yeah,
Speaker 6: but no I am. I am investing in Cheersias, but
Speaker 6: I probably do it like once every few weeks rather
Speaker 6: than weekly or how much how often I'd like to
Speaker 6: be doing it.
Speaker 5: And that is fine, Like that's the beauty of investing, right,
Speaker 5: you can turn it on and off and work out
Speaker 5: what works for you. Yes, in a perfect world you're
Speaker 5: investing consistently and regularly over time. But like that doesn't
Speaker 5: work for everybody. I need to just like segue off
Speaker 5: this for a hot second and like talk more about investing.
Speaker 3: Was that hard to do?
Speaker 5: Like are you just are you finding it easy to
Speaker 5: turn on and off your investments or that? Because I
Speaker 5: think a lot of people go, oh, I don't want
Speaker 5: to commit to it because then I'll have to keep
Speaker 5: doing it and it'll be hard to turn off.
Speaker 1: No, not all.
Speaker 3: It was so easy.
Speaker 6: Plus I don't think I even had roundups on for
Speaker 6: that long. I feel like I just went in because
Speaker 6: it would be like literally a button. It's like changing
Speaker 6: the settings in your phone.
Speaker 1: Right, Yeah, and it's very it was very fun.
Speaker 6: Like I think, I I don't even remember when I started.
Speaker 6: It would have been maybe a year ago, but somehow
Speaker 6: I have like I have like.
Speaker 3: Five hundred bucks in there.
Speaker 6: You don't actually, yeah, and I don't even have that
Speaker 6: much in savings.
Speaker 1: But there's something about like you got five hundred dollars invested, yeah.
Speaker 6: Because I like, if that was in my savings acount,
Speaker 6: I would have so much access to it that would
Speaker 6: not exist. But there's something about like having to withdraw it,
Speaker 6: and I was like I can't.
Speaker 5: Stor it gets the more you're like, oh I really
Speaker 5: can't touch that now. Yeah. Yeah, maybe when it was
Speaker 5: like fifty bucks, you'd be like, oh, it wouldn't matter. Yeah,
Speaker 5: Like it's five hundred dollars. I can't take five hundred dollars.
Speaker 6: Exactly, and you've got to sell it from all the
Speaker 6: different little things you've got.
Speaker 3: It's just too much effort.
Speaker 6: So the best way for me to say, which I
Speaker 6: know is not ideal, that's harden emergency fund you do,
Speaker 6: but it's just it just works very well.
Speaker 1: So proud of you. Imagine like a year ago when
Speaker 1: before you'd started, and you're like, oh, I remember we
Speaker 1: spoke about it. I think in a reel or something.
Speaker 1: You're like, Oh, I would really like I want to
Speaker 1: it something I want to do, but I just haven't
Speaker 1: done it yet.
Speaker 2: Yeah.
Speaker 1: And even if you are turning out on and off,
Speaker 1: like the fact that you've started and you've left it
Speaker 1: in there is such a big step.
Speaker 3: Yeah, thank you so much, queen, Thank you guys.
Speaker 1: I love that for you.
Speaker 5: Speaking of love, let's move back on to what we're
Speaker 5: meant to be talking about on the show, and that
Speaker 5: is our community. Jess Gricchi, what are the money wins
Speaker 5: and confessions that you're bringing to the table this week?
Speaker 1: Oh right, first of this week, I have one from
Speaker 1: Risha Well he said money win. I was in Woolworths
Speaker 1: yesterday and they had Nappis on sale for half price,
Speaker 1: so I grabbed a bag. At the checkout, it scanned
Speaker 1: full price and I kindly mentioned it to the checkout lady.
Speaker 1: We had a bit of back and forth. She looked
Speaker 1: into it, and then I got told that because the
Speaker 1: pricing was incorrect, I now got it for free money.
Speaker 1: Apparently the same rule applies that Cole's Woolies and Aldi.
Speaker 1: Rachelle said she would have been happy to just get
Speaker 1: them at half priced. Just get them at free is
Speaker 1: a huge win. And then somebody commented who worked at
Speaker 1: one of the supermarkets instead. Apparently at the supermarket she
Speaker 1: works at, you have to specifically mention the free rule,
Speaker 1: So if this happens to you, it might be worth
Speaker 1: just mentioning to whoever's checking out, Oh does this mean
Speaker 1: I get it for free? Someone also linked a policy
Speaker 1: information so how to look into it?
Speaker 5: But I was talking to somebody else and this reminds
Speaker 5: me of that. But like when you said you have
Speaker 5: to mention it for it to be honored, I was like,
Speaker 5: that's sneaky. But phone plans, so like when you call
Speaker 5: up and you're asking your phone company for a better deal,
Speaker 5: more often than not, they can't give you a better deal,
Speaker 5: even if a different company has a lower one, unless
Speaker 5: you specifically name drop and go, well, this other company
Speaker 5: has it for five dollars less per month. At that
Speaker 5: point they can go, okay, well we'll match it, but
Speaker 5: they can't match it or drop it unless you like
Speaker 5: yeah right, yeah, so good one to your mind, especially
Speaker 5: a high tier item.
Speaker 1: Nappies are expensive, so job they are?
Speaker 3: Do you know what I won't say it's.
Speaker 5: A hidden cost, because like you are changing a lot
Speaker 5: of nappies, but like I was shocked at how expensive
Speaker 5: they are consistently like that you have to end up
Speaker 5: nappies formula. All of those things add up, like it's
Speaker 5: just and I'm not complaining at all part of the budget, but.
Speaker 3: It's just a lot, especially right now.
Speaker 1: Yeah, so a free one, we love that.
Speaker 3: Yeah seriously.
Speaker 1: Next, I've got money in from Rebecca who said my
Speaker 1: children's daycare were updating their outside tweet and therefore rehoming
Speaker 1: the old ones to daycare families. They scored a cozy
Speaker 1: Cube under.
Speaker 3: Trick for free. The kids are obsessed.
Speaker 1: Now they don't fight over who gets to go in
Speaker 1: the car first because they've got one each.
Speaker 3: Yeah that was is so cute.
Speaker 5: I really cozy Coop Harvey is obsessed with his. And
Speaker 5: if you don't get one for free from your daycare,
Speaker 5: you can pick them up on Facebook market place for
Speaker 5: like twenty bucks, or if you like me, you can
Speaker 5: pick them up on Facebook Marketplace for twenty bucks and
Speaker 5: then spend like one hundred dollars on paint to make
Speaker 5: it look like a golf cart. I definitely don't need
Speaker 5: to do that second step optional. Next, I've got a
Speaker 5: money in from Zoe. He said, her and her friend's
Speaker 5: doing a big group trip overseas. She was the first
Speaker 5: to book her travel insurance. At the end of the process,
Speaker 5: she was given a fifteen percent off discount code to
Speaker 5: share with friends, and then every time someone uses this
Speaker 5: account code, she would get a twenty dollars gift card
Speaker 5: of her choice. So now all her friends excuse me,
Speaker 5: get fifteen percent off and she gets all their twenty
Speaker 5: dollars gift card. Oh my god, you've gained it.
Speaker 3: Yeah, really is.
Speaker 1: And then lastly, this week, I've got a money win
Speaker 1: from Keianni, who said she dropped her car off to
Speaker 1: be repaired in an embarrassingly messy state. That is always
Speaker 1: me too, and when god, she said, it was a
Speaker 1: lovely surprise when she picked it up because it had
Speaker 1: been freshly detailed.
Speaker 5: Face that is, it also makes me low key feel embarrassed,
Speaker 5: like I'm dropping this car for a service and then
Speaker 5: it comes back vacuumed and I'm like, that's so nice,
Speaker 5: But it's because it needed vacuuming and probably noticed they
Speaker 5: couldn't avoid.
Speaker 1: Yeah, sorry about the empty wrappers. The popcorn, the crumbs,
Speaker 1: whatever else you found down there.
Speaker 5: Oh my goodness, well that was a very good rap
Speaker 5: of the wag Jess Beck, what are your three broke tips?
Speaker 1: So this first one kind of ties into the nappy thing.
Speaker 3: Oh perfect step.
Speaker 6: Kind of not really, but anyway, I have one from Madra,
Speaker 6: who I'm so sorry if I'm saying that wrong, who
Speaker 6: says by period pants they're the best things. So you
Speaker 6: don't you have to spend money on tampons pads anymore.
Speaker 6: I feel like if you even, like, you know, moon
Speaker 6: cups and stuff like that.
Speaker 5: I was about to add to that, I have the
Speaker 5: period cup from Moxie.
Speaker 3: I'm obsessed.
Speaker 5: Yeah, and it's so love it, like it is the
Speaker 5: love of my life. Like and I am not saying
Speaker 5: that lightly because I know that a period cup isn't
Speaker 5: for everybody, but for me that works so well, Like
Speaker 5: and I.
Speaker 3: Love that it's zero waste. Yeah, really good, perfectly exactly exactly. Yeah,
Speaker 3: and it's so much easier than you think it is.
Speaker 5: Like I think a lot of the time people go, oh,
Speaker 5: that would be really uncomfortable, Like it's not I would
Speaker 5: make a video on it. But the entire Moxie like,
Speaker 5: I don't know if you guys have seen the Moxy TikTok.
Speaker 1: They have like more.
Speaker 5: Than a million followers because they do these great educational
Speaker 5: videos on periods and they're like it's white. Have you
Speaker 5: seen like how the period cups fold so like they're silicon,
Speaker 5: and like there's like so many different folds you can do,
Speaker 5: and like, yeah, you probably do have to get a
Speaker 5: little bit comfortable with like your own body to do this.
Speaker 5: But like, once I worked out the fold that worked
Speaker 5: for me, we are golden. We are good to go
Speaker 5: and it is perfect.
Speaker 1: Yeah, and it's just a one soft purchase.
Speaker 5: Yeah, wait until the period cup is on sale because
Speaker 5: I believe it's about thirty ish dollars and at Chemists Warehouse.
Speaker 5: This is not an ad from Oxy at all, but
Speaker 5: like this is I've tried a lot of them, and
Speaker 5: I like the silicon on this one best because it's
Speaker 5: like the softest, Like it just it squishes more. I
Speaker 5: don't know how to explain it better than that it
Speaker 5: squishes more and it has this again weird. But you guys,
Speaker 5: I'm pretty sure ninety nine percent of our listeners of females,
Speaker 5: So you're going to appreciate this. It has this ribbing
Speaker 5: at the bottom of the cup, so when you're grabbing
Speaker 5: it to pull out, it like has a grip.
Speaker 3: Yeah, we love a grip.
Speaker 5: It just makes sense. So all of that works. But
Speaker 5: they often go on sale at Chemist ware House.
Speaker 1: Great to know to see that they sell period undies
Speaker 1: at the Chemists now too, you can only get them online.
Speaker 1: It might have actually been Chemists ware House. I'm not
Speaker 1: one hundred percent sure on that, but.
Speaker 5: I definitely saying them at Chemist whare House. Yeah, and
Speaker 5: I saw period undies in the store and I.
Speaker 1: Was like, oh, that's so cool.
Speaker 6: I'm pretty sure I've seen them in the middle aisle
Speaker 6: the specializes all Oh, of course.
Speaker 7: I love it.
Speaker 2: I love it.
Speaker 5: And if you're someone who I just feel like giving
Speaker 5: it a crack is a good idea because I think
Speaker 5: so many times will go oh no, yes, maybe, And
Speaker 5: like I've had this discussion with girlfriends who are like,
Speaker 5: ill a period cup and I'm like, it is the
Speaker 5: love of my life, Like this, I won't go into
Speaker 5: it too much, but like I bleed through tampons, like
Speaker 5: it's just not a fun time and this just she's tidy,
Speaker 5: she's nice. You can change it in the shower. It's
Speaker 5: a good experience.
Speaker 3: Absolutely.
Speaker 1: I love your Body Body undies. If anyone wants recommendation Bodybody,
Speaker 1: Muddy Body, I think, yeah, the body Body ones are
Speaker 1: the way really I have as well? Is that the
Speaker 1: one with an eye at the Yeah, I'm od I
Speaker 1: think I've seen that.
Speaker 3: Yeah, okay, I've tried, but they're good.
Speaker 1: Good to know, thank you.
Speaker 5: I've tried a couple of other brands because I've been
Speaker 5: very grateful to have been sent them before, but you
Speaker 5: wouldn't have seen me post about them because like the
Speaker 5: Body Body ones very comfortable are the ones that I
Speaker 5: have historically been sent to try kind of feel a
Speaker 5: little like they have a plastic.
Speaker 3: Lining in them.
Speaker 1: They just like cool.
Speaker 5: I've noticed that and that's not very fun. So like
Speaker 5: the mudibody ones don't have that. I feel like there
Speaker 5: are one hundred percent cotton and very comfortable.
Speaker 1: Like they don't give that weird heavy one because they do,
Speaker 1: which I also we've fully gone off on period, but
Speaker 1: they do different flow like there's a lot of medium
Speaker 1: heavy or something, and even the heavy duty one.
Speaker 3: It doesn't feel like that.
Speaker 1: Yeah, what I would do at night, I was like
Speaker 1: it feels thicker, but it's still comfortable and it's not
Speaker 1: crinkly like you were saying, yeah, which I think is good.
Speaker 3: Check it out.
Speaker 5: I love it.
Speaker 1: Great to know how good body body.
Speaker 6: And this next one comes from Meal who says, if
Speaker 6: you have a chronic condition, you're likely eligible for an
Speaker 6: enhanced primary care plan. They're amazing, five government funded visits
Speaker 6: with an allied health professional, example, exercise.
Speaker 3: Very cool things like that.
Speaker 6: So that's great to know if you are currently suffering
Speaker 6: from or struggling with chronic health condition, definitely check that out.
Speaker 3: Yeah, very cool. And then this last one obviously is
Speaker 3: from myself a my friend.
Speaker 6: So a cheaper alternative for your soda streams of the world,
Speaker 6: Billy Bubbles, soda gas refills at your doorstep. I recommend
Speaker 6: just having a little Google because soda stream. I love
Speaker 6: a soda stream, but I don't think I'm spending I
Speaker 6: know it's really bad for the environment, but I think
Speaker 6: I'm not drinking enough soda water or soda drinks to kind.
Speaker 3: Of like justify that.
Speaker 1: I am.
Speaker 5: I absolutely am bubbly water every day. We've callt spicy
Speaker 5: water in our house, and like I swear it's the
Speaker 5: primary type of water I drink.
Speaker 3: Yeah, it's my favorite. I love sparkling water.
Speaker 6: But I just don't know if I'm yeah drinking enough
Speaker 6: to warrant that. But I think if you are, or
Speaker 6: if you have a soda stream, you're just very environmentally
Speaker 6: conscious and you can afford it.
Speaker 3: Yeah, do check out this other one.
Speaker 5: It is, yeah, because they do the refills that fit
Speaker 5: in the soda stream and they're just cheaper and they
Speaker 5: drop it to your door and that's a win easy.
Speaker 3: I know that because I Billy Bubbles dot Com.
Speaker 5: Well, good work there, go all right, Well, let's go
Speaker 5: to a really quick break on the flip side. You
Speaker 5: and I are going to have a deep discussion about
Speaker 5: negotiating a better hourly wage rate. And you guys slid
Speaker 5: into our DMS this week about should you move away
Speaker 5: from your family and friends so that you can buy
Speaker 5: a whole house outright and live completely debt free? Which
Speaker 5: I need a lot of context here, so guys don't
Speaker 5: go anywhere.
Speaker 1: Welcome back, everybody. Let's take a listen to this week's
Speaker 1: money dilemma.
Speaker 5: Hi, there, have you got a money dilemma you just
Speaker 5: can't solve the She's on the money team is here
Speaker 5: to help. Every week, we tackle your dilemmas, both big
Speaker 5: and small, to answer your most burning money, career and
Speaker 5: life questions. To get involved, simply head to our website
Speaker 5: and leave us a short voice recording and you might
Speaker 5: just find yourself on the show.
Speaker 1: Now, let's take a listen to this week's money dilemma.
Speaker 7: She's on the money. I would love to ask a
Speaker 7: question about negotiating a new hourly rate. So I'm an
Speaker 7: earth mover, been an earth mover for four years. I
Speaker 7: love it, I love the money, I love everything about it.
Speaker 7: But I'm listed as a laborer at the moment, which
Speaker 7: is a CW three, and I've just been gifted my
Speaker 7: very own machine, which is a CW five. There's a
Speaker 7: massive difference in the hourly wages there which I would
Speaker 7: love to be able to ask my boss if I
Speaker 7: can negotiate something in the middle. A CW three and
Speaker 7: a CW five has got roughly twenty to twenty five dollars.
Speaker 3: Different an hour. That's a lot of money I'm losing
Speaker 3: each week and each year.
Speaker 7: Is there any little way that you've got that I
Speaker 7: can maybe ask my boss in regards with negotiating a
Speaker 7: new hourly rate. Thanks love you guys.
Speaker 5: Oh my goodness, Oh my goodness, do you I'm not
Speaker 5: evening to jump in here barecas shoes?
Speaker 6: She do.
Speaker 1: Actually, this is great.
Speaker 6: This is a great timing because I literally just asked
Speaker 6: my boss yesterday. I didn't ask for the exact same thing.
Speaker 6: I just said, how do I go about doing this?
Speaker 6: And then she said, if you come prepared, And I
Speaker 6: feel like Victoria, you would.
Speaker 3: Say this is a similar thing. It wasn't me.
Speaker 5: I'm not the boss, she asked, No.
Speaker 6: Different, boss, come prepared with your I don't really I
Speaker 6: don't really like this. I feel like the cost of
Speaker 6: living right now is so expensive it should just kind
Speaker 6: of be by default. But you come prepared with your performance,
Speaker 6: you know, like why you are deserving and all this
Speaker 6: kind of thing. Why am I deserving to be able
Speaker 6: to afford bond? Soy over the home brand Soy milk ridiculous.
Speaker 6: I don't like it anyway.
Speaker 3: I'm literally getting my head is getting tired right now.
Speaker 3: I'm very angry. So I don't think that that anyone
Speaker 3: needs to do that.
Speaker 1: But if that's what you gotta do, if you're going
Speaker 1: to play the game to try.
Speaker 6: And like get by and leave it a little bit
Speaker 6: more of a comfortable life. Yeah, I think I would
Speaker 6: just kind of do that. I don't really know if
Speaker 6: that's I've never really done this, I'm not really. I
Speaker 6: would always say, obviously, come prepared. It annoys me that
Speaker 6: your boss is like, well, come prepared with your performance.
Speaker 1: She can't.
Speaker 5: My manager didn't do.
Speaker 3: You know, my performance?
Speaker 5: I don't see, like I know, I don't know. I
Speaker 5: just have a lot of thoughts and feelings about things
Speaker 5: like that, which we will leave for another time. We've
Speaker 5: done whole episodes on negotiating your salary, which, honestly, Beck
Speaker 5: you should go and listen to. Some of them were
Speaker 5: pre you being on the show, and that could actually
Speaker 5: benefit you. I know Jess is probably going to have
Speaker 5: an answer similar to mine, because I mean we've worked
Speaker 5: together for like five years now, which is insane.
Speaker 3: Just what would you do?
Speaker 1: So it sounds like within your role, there's obviously clear
Speaker 1: guidelines as to what categorizes you into the different things
Speaker 1: like obviously you've said that you've been given your own machine,
Speaker 1: which is really exciting, so that puts you in the
Speaker 1: high category.
Speaker 2: W five.
Speaker 1: I would just cross check that you're ticking all of
Speaker 1: the other markers for a W five because typically when
Speaker 1: you have salary bands like this, it's outlined.
Speaker 5: Yeah, there's like what's the word award that's it, or
Speaker 5: like ban Yeah, there might be a job description or something.
Speaker 5: Maybe you know somebody at that higher job description that
Speaker 5: could provide you with their job description, so you could
Speaker 5: like cross check, yeah, there's a go to your manager.
Speaker 1: There's a really good guide to awards on the Fairwork website.
Speaker 1: There's actually a huge document that outlines every award that exists.
Speaker 1: So you can go to their and you can search
Speaker 1: by award or you can search by job. It's like
Speaker 1: there's a lot of different ways you can filter it
Speaker 1: and you can go through and you can find specifically
Speaker 1: what the W five is. Cross check that you're taking
Speaker 1: all the markers. If you're ticking all the markers, I
Speaker 1: would say, don't negotiate.
Speaker 5: Oh we're not negotiating W five babe, Like go for them.
Speaker 5: We're not just going for it, We're just letting our
Speaker 5: boss know. I think there's been an issue and I'm
Speaker 5: meant to be on W five. I actually I feel
Speaker 5: bad about it. I checked absolutely everything and I am
Speaker 5: so could you just fix that up and see how
Speaker 5: that conversation goes, because that's a different conversation than negotiating
Speaker 5: to be.
Speaker 3: On a rate that you should already have been.
Speaker 6: On and then get that's a great idea because now
Speaker 6: they're in the position where they have to then tell
Speaker 6: you you're not and then explain.
Speaker 3: Why you're not deserving of that or why you do not.
Speaker 5: So am I not doing the capabilities that I already
Speaker 5: cross checked and confirmed that I do.
Speaker 3: That's great.
Speaker 5: Did you want me to not do those things here
Speaker 5: in this business?
Speaker 3: Actually take some things off my plate in that case?
Speaker 7: Yeah?
Speaker 1: Weird. It does change the dynamic.
Speaker 5: And I think as women, we automatically go, I really
Speaker 5: should talk to them about this, or you know, in
Speaker 5: the nicest possible way, I should negotiate it. Hold on,
Speaker 5: there are some things that aren't about negotiating, which we
Speaker 5: should have as a good skill. There are some things
Speaker 5: that we actually need to just back ourselves and be like, hey,
Speaker 5: business like this is actually incorrect and you need to
Speaker 5: fix it, and then let them squirm.
Speaker 1: Yeah yeah, but I, as you said, come prepare, do
Speaker 1: all you do, diligent, make sure you are to hear
Speaker 1: those boxes. If you're not to hear all the boxes
Speaker 1: with W five. Then maybe you can name for somewhere
Speaker 1: in the middle, or do exactly as Beck did and say, hey,
Speaker 1: what do I need to do to get there? Yes,
Speaker 1: but yeah, just approaching them.
Speaker 5: Also, you and I we can sit down later, Beck
Speaker 5: and we can work out what you can say to
Speaker 5: your other boss about getting that pay rice.
Speaker 3: Thank you.
Speaker 5: I will literally be like, okay, cool, So this is
Speaker 5: what you're going to take. The first thing I'm going
Speaker 5: to tell you to go and find is the Hayes
Speaker 5: Salary Guide. So that's downloadable online for free, massive pdf.
Speaker 5: You're going to have to control F to find your job, sure,
Speaker 5: but my favorite thing about that guide is it's I
Speaker 5: think it is the biggest recruitment guide in Australia. And
Speaker 5: when I say biggest, I mean it has the biggest
Speaker 5: sample size, so the most amount of like people in
Speaker 5: its thousands. But you can control F your job, and
Speaker 5: then once you find your job, you can then look
Speaker 5: at it based on the different states and territories and
Speaker 5: then the years of experience and what your salary should
Speaker 5: look like. Hy s Hayes oh hellary Guide, and yeah,
Speaker 5: go from there. That's something that I've been recommending four
Speaker 5: years and it's something that I use. You know, if
Speaker 5: I'm looking at pulling a new role into the business,
Speaker 5: I'm looking everywhere. I'm looking on seek, I'm looking on LinkedIn,
Speaker 5: I'm checking other job descriptions, making sure that you know one.
Speaker 5: I'm capturing everything I need to. But is the salary reflective?
Speaker 5: And then I go to the Hayes Salary Guide and
Speaker 5: work out what would be reasonable and what is like not.
Speaker 5: And even if someone comes to me and says like, oh,
Speaker 5: I would want salary X, but my salary is higher,
Speaker 5: I'll be like, well, your salary is actually worth more. Sorry,
Speaker 5: Like I'm not going to pay you less just because
Speaker 5: you suggested less. Like I'd be so embarrassed. So yeah,
Speaker 5: that for me is like I won't say the Golden ticket,
Speaker 5: but a really cool tool. And if you want to,
Speaker 5: you could say to your manager and like this is
Speaker 5: just side advice. We could write a really nice email
Speaker 5: that outlines everything and says, hey, YEP, I took your advice.
Speaker 5: I've gone and done my research. I've gotten all of
Speaker 5: my stuff together. I wanted to provide you all this
Speaker 5: information before our meeting. Here's all the information on my performance.
Speaker 5: Here's how I have excelled, because sometimes these conversations are
Speaker 5: really hard to have in person, like because you might
Speaker 5: fumble it or be really anxious. Right, So we're going
Speaker 5: to do this nice email. Also, I've checked the Hay salary.
Speaker 5: Glad I've attached it for your convenience, and my salary
Speaker 5: could be or should be about here. Let's have a
Speaker 5: meeting next week to discuss all of this. So they're
Speaker 5: getting all of the information that they need and know
Speaker 5: what you're asking for to begin with. And it's literally
Speaker 5: what we're saying before about this C five thing. We're
Speaker 5: putting the control back in your hands because they're going
Speaker 5: to have to come back and be like, no, you
Speaker 5: don't do these things. But what you think it was
Speaker 5: a five minute email? No, that was a very well
Speaker 5: where researched email. To make sure that I'm not sending
Speaker 5: you a hopeful I'm being like, hey, cool, you told
Speaker 5: me to look at my performance. I actually did, and
Speaker 5: I'm above and beyond.
Speaker 1: Yeah.
Speaker 5: Yeah, they have to come back and say, oh, no
Speaker 5: we can't and what not. But it puts you in
Speaker 5: a much stronger position.
Speaker 6: Gorgeous advice say less baby, Yeah, I love that, thank you.
Speaker 3: That is okay?
Speaker 5: Moving on juicy DM, and I say juicy because I'm
Speaker 5: just like, how can you afford.
Speaker 3: A house outright? So would you like to hear it?
Speaker 1: Yes? Yes, Hey, she's on the money.
Speaker 5: We are currently renting out our property to live closer
Speaker 5: to my work while the kids are young.
Speaker 3: Fifoux Worker.
Speaker 5: It was never our dream home, but it's a good
Speaker 5: house with nice memories. Now prices have boomed and there's
Speaker 5: a lot of equity sitting in it. If we sold today,
Speaker 5: we'd walk away with six hundred grand cash after expenses.
Speaker 5: The thing is, do we sell them buy something else
Speaker 5: in that budget? To be debt free To buy the
Speaker 5: property we actually want, we'd need to move into state,
Speaker 5: away from family and friends, as that's where homes in
Speaker 5: our price range are. But being debt free could mean
Speaker 5: quitting FIVEFO and being around the kids more while living
Speaker 5: in a dreamy location. All the investment strategies say to
Speaker 5: use the equity to buy something else renting it out,
Speaker 5: but it's not a good rental. It costs more than
Speaker 5: it makes, and then we just have more debt. What
Speaker 5: would you guys do?
Speaker 6: I wouldn't ever prioritize It really is a struggle because
Speaker 6: both what I was about to say was like I
Speaker 6: wouldn't prioritize something over a lifestyle or like, But then
Speaker 6: I guess either scenario is lifestyle. It's like spend time
Speaker 6: with your family and don't have to work as much
Speaker 6: and move away from your friends and all.
Speaker 3: That kind of stuff. But I'm just sure there's a
Speaker 3: middle ground. Like say, for example, we're here in Melbourne.
Speaker 3: I could not with that money be able to.
Speaker 6: Afford a four bedroom house in Brunswick, but maybe I
Speaker 6: could in Reservoir. I'm not that far away from my friends.
Speaker 6: And maybe I'm not buying it outright. Maybe I've just
Speaker 6: got a two hundred thousand dollars mortgage. I'm just I
Speaker 6: don't know if that's actually how it works, but a
Speaker 6: smaller mortgage, just like you don't have to you don't
Speaker 6: have to go buy it completely out right.
Speaker 1: Just get somethings, maybe even a lit do.
Speaker 6: We more than that, and you can be close to
Speaker 6: your friends and family, you don't have to work as much,
Speaker 6: you spend time with your kids.
Speaker 1: Like everything's good.
Speaker 6: Maybe just get like a part time job, also like
Speaker 6: not working at all, Not that that's what they're suggesting,
Speaker 6: but it sounds great, But when you're sometimes you and
Speaker 6: you leave for too long and you're like, I'm desperately
Speaker 6: bored and sad and lonely, and so there might be
Speaker 6: this nice balance in between that we're not looking at.
Speaker 6: So you know, have a look at places around you
Speaker 6: just slightly outside your zone, but you're close to your
Speaker 6: friends still, and you're close to your lifestyle. You're close
Speaker 6: to the schools, and you're close to everything you know,
Speaker 6: and even if you need a little mortgage, it's okay?
Speaker 5: Is that right?
Speaker 3: Am I right in saying that? Is that a possibility
Speaker 3: that you get a little mortgage to something?
Speaker 1: Yeah?
Speaker 7: Cool?
Speaker 1: Yeah, it's all dependent on what they purchase. So as
Speaker 1: to say our listeners saying that they to purchase a
Speaker 1: home within their price range their meaning within the cash
Speaker 1: that they have, so at around the six hundred thousand
Speaker 1: dollar marks. Yeah, obviously we don't have any context as
Speaker 1: to where you live or any insight into you know,
Speaker 1: what distance is at what the price is. You know,
Speaker 1: can you move The example you gave here Beck is
Speaker 1: you move, you know, maybe half an hour away from
Speaker 1: your ideal location, but the price range drops significantly. We
Speaker 1: don't really know what that looks like for our listener. Yes,
Speaker 1: that's I would say, you need to consider how reliant
Speaker 1: you are on your network, like your family and your friends.
Speaker 1: Because if you're someone who has you know, mom and
Speaker 1: dad look after the kids a couple of days a week,
Speaker 1: we're having dinner, you know, once or twice a week
Speaker 1: with our friends, We've got all our regular catch ups.
Speaker 1: I think moving away from that would be a lot.
Speaker 1: Whereas if you find that because your five fo perhaps
Speaker 1: you're already a little bit more isolated, the move may
Speaker 1: not be as taxing on you, or it may not
Speaker 1: be as hard to move away from that circle. It's
Speaker 1: really going to depend on, like how closely I guess
Speaker 1: you're leaning on everybody. You said that your ideal or
Speaker 1: dreamy location. In my mind, I'm picturing you moving to
Speaker 1: like a beach somewhere, right, Like you're moving from like
Speaker 1: a city or a countryside town to like a beach
Speaker 1: or something like that. And so I guess you also
Speaker 1: have to weigh up, like the lifestyle that you would
Speaker 1: live in this new location again against the loss of
Speaker 1: your proximity to friends and family starting over, it might
Speaker 1: be exciting for you like you might like the challenge.
Speaker 1: You can make new friends in new places, Like, It's
Speaker 1: not as if you move away and you never talk
Speaker 1: to anybody ever. Again, family is a little bit trickier obviously,
Speaker 1: but it really depends on you in your situation. I agree, though,
Speaker 1: I think that being debt free is a really great
Speaker 1: appealing thing, and I'm sure many of us would love
Speaker 1: to never have any debt when it comes to our property.
Speaker 1: But if you have that six hundred thousand dollars in cash,
Speaker 1: you could potentially take a small loan with very minimal
Speaker 1: repayments compared to what you would are paying currently and
Speaker 1: have Yeah, that middle ground where maybe you're still within
Speaker 1: the state or driving distance, maybe you're a couple hours
Speaker 1: away from the people you love, but also in a
Speaker 1: property that you love as well. Yes, I feel like
Speaker 1: we don't eve enough details to really be able to
Speaker 1: lack fully.
Speaker 3: Do you know what I mean?
Speaker 2: Yeah?
Speaker 3: No, I totally get it.
Speaker 5: I am like, I've been looking at it and thinking
Speaker 5: about it, and you've just told me that essentially you
Speaker 5: have six hundred thousand dollars in equity. Get financial advice.
Speaker 5: Go sit down with a financial advisor and talk about
Speaker 5: your lifestyle goals, what you want to achieve, what that's
Speaker 5: going to look like. You know that you do want
Speaker 5: to work less. What income requirements you have in the future, Like,
Speaker 5: just being completely debt free doesn't mean you don't need
Speaker 5: income coming in the door. Like just because you have
Speaker 5: a house fully paid off doesn't mean you never work
Speaker 5: a day in your life again unfortunately, Yeah, so what
Speaker 5: does that look like? Because a financial advisor could sit
Speaker 5: down and be like, okay, cool, well let's do some projections.
Speaker 5: And as an ex financial advisor, this was one of
Speaker 5: my favorite things. Like we would do projections based on
Speaker 5: different scenarios, so then we could pick the scenario that
Speaker 5: made the most sense based on that projection. So we
Speaker 5: could project you staying in that property. We could project
Speaker 5: you renting out that property. And I know that you're saying, oh,
Speaker 5: that property costs more than it does yield in rent income,
Speaker 5: which is fine, but like, what would that property be
Speaker 5: worth in the future. What are your capital gains on
Speaker 5: that property? You know, what are the selling costs? Back
Speaker 5: to what you were saying, Jess, like what would childcare
Speaker 5: look like like? All of those additional things, Because yes,
Speaker 5: you want more freedom and flexibility, but just being completely
Speaker 5: debt free today might not actually put you in the
Speaker 5: wealthiest position. Long term debt free fantastic sounds incredibly sexy,
Speaker 5: but if you've got thirty plus years of working left,
Speaker 5: like are we investing? Like? How are we creating long
Speaker 5: term wealth? Because extinguishing debt doesn't necessarily mean that that's
Speaker 5: the best decision for you. Like I know that with
Speaker 5: my mortgages, if you just extinguished one today, that like great.
Speaker 3: No worries.
Speaker 5: I'd love to be quote debt free on my mortgage,
Speaker 5: But like, what am I doing with that income that's
Speaker 5: coming in now? Like that would be the question. If
Speaker 5: I don't have a mortgage, how am I creating wealth?
Speaker 2: Like?
Speaker 5: Am I investing it in the share market? Am I
Speaker 5: buying another property? Am I building another business?
Speaker 2: Like?
Speaker 3: What do all these things look?
Speaker 6: Like?
Speaker 5: That's the question, not should I just move and be
Speaker 5: completely debt free? Yes, you would get more time with kids,
Speaker 5: and I totally get that because as a mum, I
Speaker 5: want to spend the most amount of time with my baby,
Speaker 5: but I also need to pay his school fees in
Speaker 5: the future. I also need to create a lifestyle where
Speaker 5: my husband and I can comfortably retire so that maybe
Speaker 5: one day, when Harvey decides to have kids, I can
Speaker 5: afford to give child care to my kids. Like, there's
Speaker 5: a lot to think about, and that's probably not the
Speaker 5: sexiest of answers. But if you are telling me that
Speaker 5: you have six hundred thousand dollars in equity in your property,
Speaker 5: I promise you have the cash to pay a financial
Speaker 5: advisor in the best possible position.
Speaker 3: That's a great point.
Speaker 1: Whatever Bill say.
Speaker 5: Okay, So there was a lot of opinions. So first
Speaker 5: question we asked what would you do in you're in
Speaker 5: this situation. Forty five percent of you said I'd sell
Speaker 5: and be debt free. Twenty eight percent of you said
Speaker 5: sell and get a new mortgage, three percent of you
Speaker 5: said hold and use equity to invest in. Four percent
Speaker 5: of you said keep renting and wait it out. We
Speaker 5: then asked, would you move into state away from friends
Speaker 5: and family if it meant being mortgage free and quitting
Speaker 5: five fo to be with your family. Twenty six percent
Speaker 5: of you said yes, it would one hundred percent be
Speaker 5: worth it, Forty six percent of you said maybe it
Speaker 5: would be a hard call, and twenty seven percent of
Speaker 5: you said no, I could never leave my support system.
Speaker 5: We then said what is your two cents? And we
Speaker 5: had a number of good comments. So first comment said,
Speaker 5: five FO is very challenging as a lifestyle. I've been
Speaker 5: doing it for nine years. It's not for the faint hearted.
Speaker 5: That's a great point, very true. But also what does
Speaker 5: that lifestyle exchange look like? So, yes, you're changing five
Speaker 5: FO and it is not for the faint hearted. But
Speaker 5: often with FIVEFO you've got like five on, five off
Speaker 5: or whatever that might look like. Is that a value
Speaker 5: to you?
Speaker 1: Like you enjoying that flow?
Speaker 2: Do you know what I mean?
Speaker 5: There's just so much to weigh up. Someone else said,
Speaker 5: just toss a coin, the disappointment or the euphorio you
Speaker 5: feel that the answer is going to tell you, oh great,
Speaker 5: cal I do like that.
Speaker 1: That's why I said it that way.
Speaker 5: That way I think I did a funny Next person
Speaker 5: said it's important to weigh up the other costs of
Speaker 5: living away, which might not just be financial. Another person said,
Speaker 5: my husband and I are working in the defense force.
Speaker 5: We'd sell and move in a heartbeat for more family time.
Speaker 1: It's fair.
Speaker 5: Another person said, we moved, We're never going back. We
Speaker 5: love our new home and our disposable income to visit
Speaker 5: our family when we need, which is really coy and
Speaker 5: I have no more to share with you. The next
Speaker 5: one is you won't have that time back with your
Speaker 5: kids if you're debt free, maybe you could save again.
Speaker 5: And the last person said, you need to consider what
Speaker 5: the job market.
Speaker 3: In that new area looks like. Great point. Yeah, great point.
Speaker 5: That's good and I feel like that's a really great
Speaker 5: place to leave it. Interesting question, not as juicy as
Speaker 5: I thought. I was like, what are you doing to
Speaker 5: be completely outright, and the answer ended up being equity,
Speaker 5: which honestly makes.
Speaker 3: A lot of sense.
Speaker 5: We're like yolo. Anyway, it has been a good episode, obviously.
Speaker 5: I love hanging out with you guys. But we'll see
Speaker 5: you next week, bright and early on Monday morning for
Speaker 5: a money Darry. Have a good weekend, guys, By guys. Bye.
Speaker 5: The advice shared on She's on the Money is general
Speaker 5: in nature and does not consider your individual circumstances. She's
Speaker 5: on the Money exists purely for educational purposes and should
Speaker 5: not be relied upon to make an investment or financial decision.
Speaker 5: If you do choose to buy a financial product, read
Speaker 5: the PDS TMD and obtain appropriate financial.
Speaker 1: Advice tailored towards your needs.
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