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Speaker 1: She's on the Money.

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Speaker 2: She's on the Money.

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Speaker 1: Hello, and welcome to She's on the Money, the podcast

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Speaker 1: Millennials Who Want Financial Freedom. My name is Georgia King.

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Speaker 1: I'm a copywriter and journalism student, and sitting across from

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Speaker 1: me is the ever fabulous financial advisor Victoria Devine.

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Speaker 3: We've gone back to compliments like this, you must be

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Speaker 3: in such a good mood, I am, and you know

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Speaker 3: why because today we're talking about babies and budgets.

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Speaker 1: Because, as it turns out, starting a family is actually

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Speaker 1: really really to use the G. King parlance, but it's

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Speaker 1: only something we really seem to talk about when we're

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Speaker 1: actually planning on making a baby, or when we find

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Speaker 1: out we're pregnant. Be that intentional or non intentional. So

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Speaker 1: if you are feeling a little out of the loop

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Speaker 1: when it comes to the cost of kids, rest assured

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Speaker 1: that this episode will set you up with all you

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Speaker 1: need to know. But it's not just you and I

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Speaker 1: on the show today.

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Speaker 3: It is not my friend. I am actually so excited

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Speaker 3: for this episode. I have been hustling this one up

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Speaker 3: for honestly the better part of eighteen months, which is

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Speaker 3: slightly embarrassing now that I vocalize that. But today we

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Speaker 3: are going to be joined by financial advisor and real

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Speaker 3: life mum Beck Pritchard, who is one a very good

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Speaker 3: friend of mine, but also too a friend of mine

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Speaker 3: who tracked every single cent of her first pregnancy, to

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Speaker 3: have a chat about how we can nail our finances

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Speaker 3: at these very magical but also very expensive stage of life,

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Speaker 3: which I am so excited to learn more about.

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Speaker 1: Well, that's the thing. It's going to be so helpful

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Speaker 1: having someone sitting in here with us who's actually been

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Speaker 1: through it and who was documented every cent, as you said.

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Speaker 3: And she's pregnant again, which is very exciting. So she's

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Speaker 3: up to so she's going to be having Bubba number

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Speaker 3: two soon and she, again, in typical Rebecca Pritchard's style,

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Speaker 3: has tracked every single cent that she's been spending. So

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Speaker 3: I think this will be the woman such a good

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Speaker 3: episode for us because we're not just throwing some stats around,

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Speaker 3: which sometimes we have to, but sorry, we have brought

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Speaker 3: to the table not only a financial adviser to help you,

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Speaker 3: but a real life mum who tracked everything.

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Speaker 1: She ticks all the boxes, she really does. But before

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Speaker 1: we do get to the lovely Beck we are gonna

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Speaker 1: stick to some stats because that's what I.

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Speaker 4: Love you, right, I know.

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Speaker 1: Now, so Victoria talk us through it. Just how expensive

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Speaker 1: is it to have a baby in Australia.

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Speaker 4: Speno? Really speno.

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Speaker 3: J That's what I suspected. Yeah, that's that's the crux

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Speaker 3: of it. But people tend to really underestimate the expense

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Speaker 3: of having a baby, which is no surprise. But according

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Speaker 3: to the Australian Institute of Family.

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Speaker 1: Studies that seems legit.

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Speaker 4: Seems legit.

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Speaker 3: The first child costs between three thousand and thirteen thousand

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Speaker 3: dollars to have in the first year, which is probably

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Speaker 3: more than people would.

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Speaker 1: Have expected babies to cost. I think, well, I would

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Speaker 1: have thought so the so small.

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Speaker 4: Yeah they are so small, but so speno.

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Speaker 3: But then then it turns out we do tend to

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Speaker 3: look after our kids financially for the most part until

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Speaker 3: they're eighteen, so those little bundles of joy they don't

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Speaker 3: come cheap. The jury is actually out on how much

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Speaker 3: it costs to raise a child in Australia. In various

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Speaker 3: studies cite different amounts, but in twenty eighteen, research from

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Speaker 3: the Australian Institute of Family Studies the legitkui So talked

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Speaker 3: about before found that it costs eighty eight hundred and

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Speaker 3: forty dollars a year to raise a kid, which equates

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Speaker 3: to about one hundred and fifty nine thousand dollars over

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Speaker 3: eighteen years, and an older report from the University of

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Speaker 3: Canberra they found that a kid can cost between thirteen

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Speaker 3: and thirty thousand dollars a year, which becomes two hundred

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Speaker 3: and thirty seven thousand to five hundred and forty eight

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Speaker 3: thousand over eighteen years.

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Speaker 1: Good lord, it is they eating gold?

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Speaker 4: I think eating gold.

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Speaker 3: Yeah, but I've also heard stats be thrown around that

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Speaker 3: a kid will cost you a million dollars until they're eighteen.

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Speaker 3: Albeit I couldn't find serious research on that, so I

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Speaker 3: didn't want to bring out I've just heard it, and

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Speaker 3: it's one of those things where I can see what

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Speaker 3: that is. We're talking base level here. We're not talking

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Speaker 3: kids who have private educations and go to extracurricular activities.

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Speaker 4: And do ballet and tennis and piano lessons.

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Speaker 3: Like we're talking this is what it costs on average

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Speaker 3: to have a kid, And I'm pretty sure the research

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Speaker 3: only takes into account like one extracurricular activity for a

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Speaker 3: child each week.

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Speaker 4: Wow.

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Speaker 3: So as much as that's quite normal, that doesn't include

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Speaker 3: if you're making the decision to send your child to.

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Speaker 1: A Catholic school or a private school.

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Speaker 3: Or you know, get them to do other things on

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Speaker 3: the weekend. So that's pretty impressive.

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Speaker 4: I think.

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Speaker 1: Jeez, I'm thinking back to everything that I did in

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Speaker 1: high school and primary school, and I just want to

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Speaker 1: take this moment to shout out, Mum.

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Speaker 3: Shout out and Dan Eric divine, Oh my god, because

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Speaker 3: I rolled ballet, tennis, piano off the tongue so quickly,

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Speaker 3: because yours truly was blessed enough to be I would

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Speaker 3: say forced into doing those things at the time. Like

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Speaker 3: I know that everyone says, oh my gosh, she was

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Speaker 3: so lucky. I was, But do you know how often

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Speaker 3: I would cry before piano lessons because my parents wanted

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Speaker 3: me to be quote smart. Yeah, yeah, yeah, I adored it,

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Speaker 3: and I'm really really grateful for it now. But at

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Speaker 3: the same time, that was in line with their values

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Speaker 3: and I love it and I wish i'd kept it up.

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Speaker 3: But it's one of those things where you go, yeah,

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Speaker 3: well that would have been expensive. Yeah, because they sent

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Speaker 3: me and my sister to all of those things too.

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Speaker 1: A young Alex Devine, i'ld ivory beast. Are you ready?

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Speaker 3: Are you ready for some dirt on Lexi lo Yeah? Yeah,

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Speaker 3: just what I called it, And I think everybody in

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Speaker 3: the show should start referring.

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Speaker 1: To us that as well. So I did ballet.

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Speaker 4: I don't think that comes as a surprise.

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Speaker 1: That's very you. But she did karate, No she didn't.

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Speaker 1: You do you have photos of that?

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Speaker 4: I'm sure I could find. Let's share them with the group.

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Speaker 4: Everyone needs to see.

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Speaker 3: Sorry, Alex, no, sorry, So enough about Lexi Lou. Today

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Speaker 3: we are going to be addressing pregnancy and the first

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Speaker 3: couple of years of starting a new family and having

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Speaker 3: a baby, rather than talking about that eighteen year time span, because,

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Speaker 3: to be honest, that is a little bit far in

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Speaker 3: advance whilst we invest in, say for the long term,

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Speaker 3: I think this episode really is nutting out what those

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Speaker 3: first few years, yeah, are going to cost you, because

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Speaker 3: after that they really do differ. So we're talking like,

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Speaker 3: what do you need to take into consideration if you're

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Speaker 3: having a baby and if you're not planning one soon,

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Speaker 3: which I'm a seeming a lot of our listeners, aren't.

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Speaker 3: I do think it's really important for you to still

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Speaker 3: know because the more educated we are, the more powerful

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Speaker 3: we are. And if you're planning on having a child,

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Speaker 3: how much you're going to have to save and invest

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Speaker 3: for the long term before that happens, so that that

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Speaker 3: process is really comfortable for you.

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Speaker 1: Yeah, all right now, Vie, we did speak about the

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Speaker 1: private system versus the public system in and earlier She's

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Speaker 1: on the Money episode, and we are like, really want

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Speaker 1: to preface this. We are so lucky in Australia that

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Speaker 1: we have access to such an incredible public system, but

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Speaker 1: can you explain what the differences actually are between the

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Speaker 1: two and what the financial difference looks like.

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Speaker 3: That's actually a really good thing to bring up, because

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Speaker 3: we are so so lucky Georgia to live in Australia,

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Speaker 3: and I think that I have always been really what

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Speaker 3: have I been.

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Speaker 1: Confused? No? I just thought that's actually.

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Speaker 3: Really important to bring up Georgia because we aren't actually

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Speaker 3: so lucky with the public system here in Australia. And

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Speaker 3: it wasn't until very recently that I actually understood what

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Speaker 3: that meant in comparison to being overseas.

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Speaker 4: Did you know that in.

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Speaker 3: America to have a baby and you don't have insurance,

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Speaker 3: which is apparently incredibly expensive in the US and not

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Speaker 3: a given like you have to have employment and then

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Speaker 3: you get insurance with it. It's crazy, like their whole

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Speaker 3: system is marked up, and I don't love it for them.

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Speaker 3: But did you know it's eleven thousand dollars on average

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Speaker 3: out of pocket just to go to the hospital. We're

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Speaker 3: not talking really, yeah, we're not talking. Hey, this is

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Speaker 3: how much are costed by this stuff? Like your hospital

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Speaker 3: bills eleven thousand dollars out of pocket and a lot

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Speaker 3: of people in America going too personal death for that. Yeah,

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Speaker 3: what that's crazy And to think that we've got it

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Speaker 3: for free, just so lucky. So we are so lucky

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Speaker 3: in Australia to have a great public system, but a

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Speaker 3: lot of people actually do choose to be privately insured.

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Speaker 3: So what does that mean. It means a lot of things.

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Speaker 3: There are so many appointments, check ups and so on

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Speaker 3: that need to happen in the nine months before you

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Speaker 3: give birth. In terms of the difference when it comes

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Speaker 3: to public and private. In the private system, you'll be

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Speaker 3: able to arrange an appointment straight away with an obstetrician

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Speaker 3: in either a public or private hospital. But in the

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Speaker 3: public system, you're going to need to go to your

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Speaker 3: GP first, who then refers you on to a hospital

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Speaker 3: so that you can see midwife and go through that process.

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Speaker 3: So it's not a bad thing. It is just a

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Speaker 3: differencene process. And then in the private system you'll continue

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Speaker 3: to see the same midwife or obstetrician at all of

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Speaker 3: your appointments, or in the public system you're going to

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Speaker 3: be allocated to a group of midwives and whoever that obstetrician.

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Speaker 1: Is on that day.

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Speaker 3: Now, for those of you playing along at home, if

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Speaker 3: you don't know what an obstetrician is, because I didn't

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Speaker 3: for the longest, it is the doctor that assists you

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Speaker 3: to give birth. So there are midwives and there are

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Speaker 3: duelers and all of this other stuff that surrounds pregnancy.

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Speaker 3: But the obstetrician is the baby doctor.

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Speaker 1: So that is Nina proud Man for anyone that yeah, offspring,

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Speaker 1: That's how.

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Speaker 3: I know it is, And I'm not Nina proud Man. Sadly, sadly,

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Speaker 3: I know, maybe I should have. Maybe I'll go back

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Speaker 3: and get a new career. Please, do you reckon i'd

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Speaker 3: be a good doctor.

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Speaker 1: Yeah, you'd be thorough. Yeah, I think you'd get it done.

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Speaker 4: All right.

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Speaker 3: Well, maybe in another life I'll become a doctor. I'll

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Speaker 3: put it past Millie's talk. So back to talking about

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Speaker 3: public versus private. In the public system, you'll go to

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Speaker 3: a public hospital for all of your appointments, and the

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Speaker 3: hospital will provide you with the time of your appointment,

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Speaker 3: whereas in the private system you can have more choice

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Speaker 3: about timing and when to book it and essentially wear

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Speaker 3: which is nice to have the flexibility when you have

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Speaker 3: the baby. The key difference is that in the public

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Speaker 3: system you're likely to be in a public room, whereas

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Speaker 3: in the private system you'll have a private room. And

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Speaker 3: in the private system you'll also get to choose your obstetrician,

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Speaker 3: So you like, technically you could probably choose Nina.

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Speaker 4: I reckon that would be you could choose Nina. You

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Speaker 4: would choose Nina prick.

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Speaker 1: Oh really does ah? Oh did you just really? I'll

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Speaker 1: put a spoiler note in the show notes.

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Speaker 3: Yeah, and that was actually really rude. But okay, uh,

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Speaker 3: you can choose. So back to this Georgia. When you're

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Speaker 3: in the private system, you can choose your obstetrician and

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Speaker 3: they're usually the one that is there on the day

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Speaker 3: of the birth. And in the public system, again it's

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Speaker 3: back to that team. So there will be a team

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Speaker 3: and whoever's on or rusted on that day, we'll be

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Speaker 3: delivering that baby. It's kind of cool because I'm sure

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Speaker 3: that it's all fine in the end after the baby,

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Speaker 3: whether you're in the public or the private system, you'll

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Speaker 3: be checked up on postpartum to make sure that you're

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Speaker 3: doing well and the baby's doing well. In both public

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Speaker 3: and private, so same same, Obviously your aftercare is really important.

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Speaker 3: Private you're probably going to stay in hospital for at

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Speaker 3: least three days. But in the public system, for a

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Speaker 3: completely uncomplicated birth, which we all wish for, you actually

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Speaker 3: could be home that same day.

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Speaker 4: Georgia, Ah, is that a pranky? Do you want a praying?

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Speaker 1: I thought you're there for like months?

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Speaker 4: No, no, no, but like it used to be used

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Speaker 4: to a minimum of two weeks or whatever. No, you

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Speaker 4: could be home the same day.

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Speaker 3: So that's obviously very different for a c section or

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Speaker 3: an emergency birth or whatever's going on, if there are

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Speaker 3: any complications at all, But if you have a bread

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Speaker 3: and butter birth, you could end out back home that

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Speaker 3: same day. I mean, I don't hate that because I'm

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Speaker 3: someone who likes my own bed and being at home

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Speaker 3: and I would.

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Speaker 1: Really like crave that, so I get it.

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Speaker 3: But also I feel like maybe I'd want to spend

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Speaker 3: a little bit of time with some nurses and ye

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Speaker 3: have breastfeed and what that actually means, because I've never

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Speaker 3: done those things before.

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Speaker 1: So it's exactly right.

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Speaker 3: Definitely worthy of consideration. Also important that private does provide

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Speaker 3: more in terms of education and therapy, but again not

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Speaker 3: everybody needs that and not everybody values that, so that's

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Speaker 3: really important.

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Speaker 1: So that's a really good rundown of private versus public.

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Speaker 1: But what are the costs? Like, what's the cost difference here?

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Speaker 3: So if you go public, a birth covered by men

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Speaker 3: is pretty much free. You could have some odd costs

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Speaker 3: like signing costs that particular hospitals or random other costs,

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Speaker 3: but the crux of it, it's meant to be free.

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Speaker 3: In Australia. If you go private, though, Medicare and your

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Speaker 3: insurer will pay most of those fees. That's exactly what

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Speaker 3: you're paying private health insurance for. Arguably, you need to

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Speaker 3: remember that you still are paying a lot of money

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Speaker 3: per month in private health insurance before you even consider

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Speaker 3: getting pregnant, my friends, make sure that you check that

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Speaker 3: your private health insurance has maternity cover on it, because

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Speaker 3: some of them don't, and if you're anything like me,

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Speaker 3: you might have turned off maternity cover because you have

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Speaker 3: no intention of having a baby in the near future

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Speaker 3: and it might need to be turned back on, and

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Speaker 3: a really good point around that is making sure that

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Speaker 3: you know the limitation period. Also worthy of note that

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Speaker 3: if you need meds that aren't a part of the PDS,

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Speaker 3: you're going to need to pay for them out of pocket,

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Speaker 3: and you might get a percentage back if you're private.

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Speaker 3: Sometimes you do, sometimes you don't. And ultrasounds and blood

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Speaker 3: work aren't covered by Medicare, which is crazy. But bulk

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Speaker 3: billing options are usually available if you ask for them,

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Speaker 3: and that's one of my hot tips. Ask for bulk

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Speaker 3: billing always right and then fun fact, according to the

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Speaker 3: Health Insurra Boopa, out of pocket costs as a private

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Speaker 3: patient for a completely uncomplicated birth can actually range between

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Speaker 3: seventeen hundred and seven three hundred dollars for a private hospital,

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Speaker 3: and it's only slightly less for public which baffles me

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Speaker 3: because that's so broad, Like, why don't we have more

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Speaker 3: specific data?

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Speaker 1: Well, I think we need to work on getting some together,

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Speaker 1: don't we.

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Speaker 3: Can you imagine if we got the Shees on the

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Speaker 3: Morning community together to do like the biggest family studies

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Speaker 3: research in Australia?

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Speaker 4: How cool?

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Speaker 1: Would that would be very cool? And I think we'd

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Speaker 1: have a few very keen participants in the community. I

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Speaker 1: don't even know what I right now, I don't even

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Speaker 1: know what I want to ask.

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Speaker 3: Can you imagine if people were willing to actually let

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Speaker 3: us quiz them and ask them what did you pay?

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Speaker 3: Maybe we could all take a leaf out of the

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Speaker 3: Becker Pritchard's book and we could document every single cost

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Speaker 3: of what our pregnancies are and what postpartum looks like.

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Speaker 3: Oh my gosh, I'm so pervy. But everybody's money stories

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Speaker 3: documented huge.

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Speaker 1: Oh I love it. All. Right, let's move on. Let's

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Speaker 1: move on. But just on that though, before we do

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Speaker 1: move on the opposite of what I said, Sorry, I'm

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Speaker 1: happy to take part in that for you in twenty

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Speaker 1: years when I have a child.

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Speaker 4: It's not going to be twenty years. We all say that.

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Speaker 4: We all say that, but you'll be planning a baby

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Speaker 4: in like five months. I bet five months. Absolutely not anyway.

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Speaker 1: So the point of your previous little fact there was

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Speaker 1: that birth is expensive in the public or the private system.

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Speaker 1: It's speno. So how do we keep the costs down?

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Speaker 4: Bit? Okay?

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Speaker 1: So there are a few ways.

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Speaker 3: One, we could make sure that we are taking every

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Speaker 3: option into consideration and reviewing it, not just going with

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Speaker 3: the first option. We could have a chat with our

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Speaker 3: obstetrician or GP beforehand about the costs that we could

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Speaker 3: anticipate and ask them, Okay, cool, who bolk bills?

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Speaker 4: Who doesn't?

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Speaker 3: How do I keep the costs down? You can go

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Speaker 3: down the path of shared care and op for a

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Speaker 3: doctor who bol bills. Back to what I was saying before,

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Speaker 3: and you could consider being a private patient in a

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Speaker 3: public hospital, which is also an option that not a

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Speaker 3: lot of people know about it.

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Speaker 1: Yeah, so you just get a few more benefits there.

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Speaker 4: Yeah, you do.

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Speaker 3: And it's definitely worthy of understanding that because if you

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Speaker 3: have private health insurance, that doesn't automatically mean that you'll have.

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Speaker 1: A private birth.

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Speaker 3: You might go all right, well, I have this insurance,

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Speaker 3: but I actually don't want to cough up how much

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Speaker 3: it cost to give birth in a private hospital, and

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Speaker 3: you can actually elect to be a private patient in

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Speaker 3: a public hospital, which is significantly cheaper.

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Speaker 1: And that is actually a very cool fact. All right,

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Speaker 1: moving on here the obviously, planning a family is a

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Speaker 1: huge luxury, and given the nature of pregnancy, we can't

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Speaker 1: always plan for it. It can be quite unexpected.

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Speaker 3: And sometimes when we are planning for it, it doesn't

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Speaker 3: even exactly right.

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Speaker 1: It's exactly right.

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Speaker 4: So if you.

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Speaker 1: Fall into the former camp and you have become pregnant

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Speaker 1: without really planning for it, would you recommend a trip

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Speaker 1: to the financial advisor?

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Speaker 4: Look?

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Speaker 3: Look, I always recommend getting advice comes to finances, because

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Speaker 3: more often than not, we are far too emotional about

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Speaker 3: these decisions. I did some research, g because your stat skirl,

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Speaker 3: and I want to come to the table with as

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Speaker 3: many stats as you do. A twenty nineteen research from

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Speaker 3: AMP found that parents worry more about money in the

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Speaker 3: lead up to having a baby than any other time,

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Speaker 3: and that planning for a baby causes greater financial stress

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Speaker 3: than actually having a child. We is seventy one percent

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Speaker 3: of those expecting a baby in the next twelve months

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Speaker 3: experiencing financial stress that's a high number, Georgia, compared to

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Speaker 3: only forty five percent of those who actually.

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Speaker 4: Have a child, So it's way more stressful pre plenty

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Speaker 4: than and then you're like, oh, this isn't as bad

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Speaker 4: as I thought.

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Speaker 1: It was going to be crazy crazy.

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Speaker 3: The study also found that only twenty eight percent of

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Speaker 3: people felt financially secure the year before having a baby,

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Speaker 3: and then it improved to fifty four percent the year after.

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Speaker 3: So I would read between the lines there and say,

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Speaker 3: a baby is a little bit.

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Speaker 1: Of a kick up the bottom.

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Speaker 3: To get your financial life in order and make sure

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Speaker 3: that you are actually making good financial decisions. And I'm

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Speaker 3: not surprised by that at all, and I think it's

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Speaker 3: also worthy of note. If you are feeling really overwhelmed,

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Speaker 3: my friend, take some deep breaths. My advice is to

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Speaker 3: literally cut down as much of your discretionary spending as

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Speaker 3: possible and figure out your budget and cash flow as

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Speaker 3: soon as possible, because you can assess where you're at

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Speaker 3: and circling all the way back to the start of

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Speaker 3: this question that you asked me, Yes, Georgia financial advisor

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Speaker 3: is definitely a great option if you're feeling completely lost,

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Speaker 3: but at the same time, like you are so powerful

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Speaker 3: and you have all the resources in the world, like

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Speaker 3: you can absolutely do some prep on your own before

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Speaker 3: the baby to help lift ourselves out of that stressful feeling.

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Speaker 3: And I'm really excited that Rebecca is coming up next

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Speaker 3: so that we can have maybe some of her good

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Speaker 3: ideas and things that she implemented.

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Speaker 1: Exactly right, we will be heading to a very short

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Speaker 1: break right now, though, before we do, bring in Beck

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Speaker 1: Pritchard to talk to us about exactly how much she's

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Speaker 1: spent on her newborn, including the expenses she did not

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Speaker 1: see coming and the ones that in hindsight she wouldn't

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Speaker 1: reckon wasting your money on. So do not go anywhere.

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Speaker 1: Please remember, gorgeous people, that conversations like this one do

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Speaker 1: take place twenty four seven on our Facebook page, so

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Speaker 1: please do join us. If you're not into Facebook, I

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Speaker 1: get it. We're also on Instagram, YouTube, TikTok, we have

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Speaker 1: a newsletter, and I feel bad for saying I hate Facebook,

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Speaker 1: because it is where we connect with all of you.

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Speaker 3: So today, as we promised, we have dragged Rebecca Prichard

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Speaker 3: into the studio. Beck, thank you so much for joining us.

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Speaker 4: Thank you for having me hardly came in kicking and screaming,

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Speaker 4: no you didn't.

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Speaker 3: We even bribed you with a chai latte, which I

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Speaker 3: think is I would come for that. I would definitely

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Speaker 3: turn up. Now, I won't get you to do.

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Speaker 4: The awkward Hey, beck who are you?

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Speaker 3: What do you do? The community already know that you're

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Speaker 3: a beckup Richard. You're a financial advisor, general legend and

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Speaker 3: also mum of one point five? Is that fair to say?

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Speaker 4: I feel like it's closed point now?

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Speaker 1: Yeah, it's just about there.

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Speaker 4: How many weeks it could be the next month?

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Speaker 1: That is so exciting?

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Speaker 3: And she's super glowy, which is kind of rude. I

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Speaker 3: think like unrealistic expectations for pregnancy as far as I'm concerned.

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Speaker 3: But Beck, you and I have spoken about this embarrassingly

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Speaker 3: for about eighteen months now. I would say, getting you

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Speaker 3: on the pod to talk about having a baby and

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Speaker 3: the costs because you wrote this epic blog post. Do

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Speaker 3: you want to tell my community what that blog post

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Speaker 3: was and potentially give me permission to reshare it?

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Speaker 4: Absolutely so. As a financial advisor, I was having these

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Speaker 4: conversations about what a cost to have a baby and

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Speaker 4: what are some of the things that you need to consider.

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Speaker 4: And I was looking for data and I was just like,

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Speaker 4: where is this information? And I couldn't find it, And

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Speaker 4: so I thought, stuff this when I felt pregnant, and

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Speaker 4: I started documenting my own experience every single dollar they

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Speaker 4: came out of my because of course I had a

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Speaker 4: nominated bank account for this purpose, and it was fascinating.

442
00:20:12,600 --> 00:20:15,280
Speaker 4: I just loved the information. It was a really good

443
00:20:15,320 --> 00:20:18,919
Speaker 4: accountability tool as well. But beyond that, I've had so

444
00:20:19,000 --> 00:20:21,199
Speaker 4: much feedback that it was exactly what a lot of

445
00:20:21,200 --> 00:20:25,240
Speaker 4: families needed to have at least a starting point when

446
00:20:25,280 --> 00:20:27,520
Speaker 4: thinking about the numbers behind this, would it.

447
00:20:27,480 --> 00:20:30,240
Speaker 3: Be fair to say that you didn't just write down

448
00:20:30,480 --> 00:20:34,280
Speaker 3: clot cost X like you were nitty gritty down to

449
00:20:34,480 --> 00:20:38,320
Speaker 3: from memory like diff lamb and how many pilates classes

450
00:20:38,359 --> 00:20:38,879
Speaker 3: you went to.

451
00:20:39,840 --> 00:20:41,840
Speaker 4: So over the course of my first pregnancy, I spent

452
00:20:41,880 --> 00:20:46,359
Speaker 4: about four hundred dollars on my lanter alone. God bless heartburn.

453
00:20:47,760 --> 00:20:50,439
Speaker 1: And yeah, it's interesting, it's just hundred dollars.

454
00:20:50,440 --> 00:20:53,240
Speaker 4: Hold up, hold up, that's a lot of money. Yeah,

455
00:20:53,320 --> 00:20:57,880
Speaker 4: and that's buying value packs as well. But they were

456
00:20:57,920 --> 00:21:00,320
Speaker 4: their things. Because you think about high level clos perhaps

457
00:21:00,359 --> 00:21:02,840
Speaker 4: you're thinking about public versus private, But it's all the

458
00:21:02,920 --> 00:21:06,639
Speaker 4: little ancillary things that add up and probably add a

459
00:21:06,640 --> 00:21:08,879
Speaker 4: couple of thousand dollars in and I found they were

460
00:21:08,880 --> 00:21:12,399
Speaker 4: the ones that were really really interesting. So it was

461
00:21:13,000 --> 00:21:15,240
Speaker 4: really good to cross reference that and you know, going

462
00:21:15,280 --> 00:21:18,600
Speaker 4: through it again this time around to actually go, Okay, yes,

463
00:21:18,640 --> 00:21:22,040
Speaker 4: they're the big milestone payments that you need to make,

464
00:21:22,119 --> 00:21:24,359
Speaker 4: but also don't forget this and this and this and

465
00:21:24,359 --> 00:21:25,960
Speaker 4: this that needs to go in there along the way.

466
00:21:26,240 --> 00:21:29,440
Speaker 3: Given you're such a planner, which I believe, I'm a

467
00:21:29,480 --> 00:21:31,600
Speaker 3: little bit envious of your planning, Like obviously I love

468
00:21:31,640 --> 00:21:33,359
Speaker 3: a good budget in cash flow, but I believe that

469
00:21:33,400 --> 00:21:34,960
Speaker 3: you're taking it to the next level.

470
00:21:35,040 --> 00:21:38,120
Speaker 4: If I'm honest, I'll try. Was it more expensive than

471
00:21:38,119 --> 00:21:39,760
Speaker 4: you thought it was going to be? Was it cheaper?

472
00:21:39,880 --> 00:21:40,400
Speaker 4: Was it on par?

473
00:21:40,680 --> 00:21:43,240
Speaker 3: Like I know you would have financially prepared for this,

474
00:21:43,560 --> 00:21:45,639
Speaker 3: So were you surprised by anything.

475
00:21:46,280 --> 00:21:50,360
Speaker 4: Yes, it was more expensive than I thought in some areas.

476
00:21:50,480 --> 00:21:55,440
Speaker 4: And I had to have a constant awareness of where

477
00:21:55,480 --> 00:21:58,320
Speaker 4: I was making decisions, So it wasn't around you make

478
00:21:58,320 --> 00:22:00,439
Speaker 4: a couple of decisions and then you just with that.

479
00:22:00,760 --> 00:22:05,480
Speaker 4: You had to constantly reassess and so that was a

480
00:22:05,560 --> 00:22:07,760
Speaker 4: learning curve as well, and there were things that I

481
00:22:07,800 --> 00:22:10,440
Speaker 4: thought I'd be able to spend more on, but because

482
00:22:10,480 --> 00:22:12,399
Speaker 4: something else popped up along the way, it was like, okay, no,

483
00:22:12,560 --> 00:22:13,640
Speaker 4: you need to make some adjustments.

484
00:22:13,720 --> 00:22:13,880
Speaker 1: Now.

485
00:22:14,480 --> 00:22:17,840
Speaker 3: That was interesting, that's pretty cool. What was what was

486
00:22:17,880 --> 00:22:20,920
Speaker 3: your biggest baby money win? Is that bad to say,

487
00:22:20,960 --> 00:22:22,960
Speaker 3: but like, I'm real pervy and we love the money

488
00:22:22,960 --> 00:22:25,240
Speaker 3: win or confession in this community. So what was your

489
00:22:25,280 --> 00:22:26,840
Speaker 3: biggest baby money win?

490
00:22:28,040 --> 00:22:31,679
Speaker 4: I think it was spending the money on reusable items.

491
00:22:32,240 --> 00:22:36,400
Speaker 4: So I have these bamboo Lua reusable wipes that are

492
00:22:36,480 --> 00:22:41,280
Speaker 4: just divine. And did she just use my name in

493
00:22:41,320 --> 00:22:44,640
Speaker 4: relation to a baby wipe? Yakay cool. I'm growing up.

494
00:22:44,760 --> 00:22:47,200
Speaker 4: I'm turning thirty soon, Like I need to get used

495
00:22:47,240 --> 00:22:51,480
Speaker 4: to this language. And you know, at first glance, it's like, oh,

496
00:22:51,520 --> 00:22:54,399
Speaker 4: you've just spent forty five dollars on ten baby wipes.

497
00:22:54,800 --> 00:22:58,680
Speaker 4: That's outrageous, or breastpads or something like that. But then

498
00:22:59,359 --> 00:23:00,679
Speaker 4: you get the money back.

499
00:23:00,960 --> 00:23:04,119
Speaker 3: And because they're spano, like, you go to the supermarket

500
00:23:04,160 --> 00:23:06,880
Speaker 3: and baby wipes are like what, they don't feel expensive

501
00:23:06,920 --> 00:23:09,320
Speaker 3: at the same time you're paying six dollars, but you're

502
00:23:09,359 --> 00:23:13,280
Speaker 3: constantly buying me exactly, and that's every single week for

503
00:23:13,520 --> 00:23:17,359
Speaker 3: and how long are baby's in nappies for nowadays? Long enough,

504
00:23:17,440 --> 00:23:20,040
Speaker 3: long enough, long enough to justify it, like I've got

505
00:23:20,080 --> 00:23:22,400
Speaker 3: no clue, Like, look at, I have no idea, you're

506
00:23:22,400 --> 00:23:23,480
Speaker 3: not in nappies anymore.

507
00:23:23,520 --> 00:23:24,239
Speaker 1: So that's pretty good.

508
00:23:24,320 --> 00:23:26,720
Speaker 4: Gee now, yeah, I like that. The other thing, though,

509
00:23:26,920 --> 00:23:28,760
Speaker 4: can I have more than one? You can have as

510
00:23:28,760 --> 00:23:30,919
Speaker 4: many as you like. One of the best things that

511
00:23:30,960 --> 00:23:33,919
Speaker 4: we spent money on, which would be so random, is

512
00:23:34,119 --> 00:23:35,600
Speaker 4: you know, my husband and I had a good look

513
00:23:35,600 --> 00:23:38,439
Speaker 4: at our lifestyle and thought, you know, as a couple

514
00:23:38,480 --> 00:23:41,880
Speaker 4: before children, where do we have limitations? Where do we

515
00:23:42,000 --> 00:23:44,480
Speaker 4: sort of hit the edges on a few things? And

516
00:23:44,560 --> 00:23:49,240
Speaker 4: I bought him some extra pairs of jocks because otherwise

517
00:23:49,240 --> 00:23:52,040
Speaker 4: we had to do the washing every week, right, it

518
00:23:52,119 --> 00:23:54,080
Speaker 4: had to be done on a Sunday, otherwise he'd be

519
00:23:54,080 --> 00:23:56,480
Speaker 4: Monday morning like I've got nothing to wear. And so

520
00:23:56,560 --> 00:23:59,639
Speaker 4: to buy a few extra sets for the rotation, I

521
00:23:59,840 --> 00:24:04,080
Speaker 4: like meant that we didn't have these restrictions at a

522
00:24:04,119 --> 00:24:07,400
Speaker 4: time when our minds were elsewhere. So I really probably

523
00:24:07,480 --> 00:24:12,720
Speaker 4: less conventional baby planning, but that's still baby planning. But

524
00:24:12,840 --> 00:24:16,000
Speaker 4: a hot tip and great value for money.

525
00:24:16,600 --> 00:24:20,679
Speaker 3: All right, I'm actually shook and that makes so much sense,

526
00:24:20,960 --> 00:24:22,840
Speaker 3: Like it genuinely makes so much sense.

527
00:24:23,040 --> 00:24:26,160
Speaker 4: And to be honest, even for me, like maybe maybe

528
00:24:26,160 --> 00:24:27,760
Speaker 4: you don't even need to throw a baby in that,

529
00:24:28,040 --> 00:24:30,879
Speaker 4: just get yourself. However, many nickers or socks or whatever

530
00:24:30,920 --> 00:24:34,440
Speaker 4: it is that causes a little bit of like rigidity.

531
00:24:34,720 --> 00:24:36,280
Speaker 4: Is that the word? It isn't?

532
00:24:36,280 --> 00:24:41,560
Speaker 3: Now in your lifestyle? Can I ask about confessions? What

533
00:24:41,600 --> 00:24:45,560
Speaker 3: were your biggest baby money confessions? Like what did you

534
00:24:45,720 --> 00:24:48,440
Speaker 3: spend the most on that was a little bit bougie

535
00:24:48,560 --> 00:24:50,879
Speaker 3: or naughty or you know, unexpected.

536
00:24:51,600 --> 00:24:54,399
Speaker 4: I don't think anything was naughty. I stand by every

537
00:24:54,480 --> 00:24:58,840
Speaker 4: dollar that I spent. I did spend over one thousand

538
00:24:58,840 --> 00:25:04,080
Speaker 4: dollars on private Polarti sessions because being able to feel

539
00:25:04,160 --> 00:25:08,040
Speaker 4: strong and move my body was really important. And as

540
00:25:08,080 --> 00:25:11,400
Speaker 4: my pregnancy went went on, you know, I certainly felt

541
00:25:11,480 --> 00:25:14,480
Speaker 4: less and less confident without sort of one to one supervision.

542
00:25:14,560 --> 00:25:18,160
Speaker 4: So that wasn't cheap, but it definitely was worth it.

543
00:25:18,200 --> 00:25:20,760
Speaker 4: But it was absolutely worth it. This time around, I've

544
00:25:20,800 --> 00:25:23,200
Speaker 4: decided to go for clinical plarty, so I'm under the

545
00:25:23,200 --> 00:25:26,880
Speaker 4: supervision of a visio rather than a PTA. Probably works

546
00:25:26,920 --> 00:25:28,760
Speaker 4: out to be about the same in terms of cost,

547
00:25:29,800 --> 00:25:31,360
Speaker 4: but they're definitely not naughty.

548
00:25:31,600 --> 00:25:34,840
Speaker 3: That's no, that's absolutely not naughty, Like naughty would be like, oh,

549
00:25:34,920 --> 00:25:37,800
Speaker 3: I spent ten thousand dollars on a prem by accident,

550
00:25:38,240 --> 00:25:40,119
Speaker 3: and I just feel like you're not the right person

551
00:25:40,119 --> 00:25:42,119
Speaker 3: to be asking for that sessions if I'm honest.

552
00:25:42,240 --> 00:25:45,320
Speaker 4: No, Look, if that's about as dirty as I'm going

553
00:25:45,359 --> 00:25:48,680
Speaker 4: to get with my confession. You went to pilates. Oh no,

554
00:25:49,600 --> 00:25:52,840
Speaker 4: I had accupuncture solely for the purpose of It was

555
00:25:52,880 --> 00:25:55,760
Speaker 4: in the list of top five things that bring on labor. Yeah,

556
00:25:56,600 --> 00:25:59,040
Speaker 4: and you're ready, You're like, I would like to be

557
00:25:59,200 --> 00:26:03,399
Speaker 4: labor now. Thanks you. Sadly it was acupuncture, chili, and

558
00:26:03,480 --> 00:26:06,119
Speaker 4: go have sex with your husband. So, oh you puntry.

559
00:26:07,359 --> 00:26:10,760
Speaker 1: I have a question for you back. What were the

560
00:26:10,800 --> 00:26:14,159
Speaker 1: things that surprised you in terms of like, like how

561
00:26:14,240 --> 00:26:17,119
Speaker 1: much does a pram cost? How much does a what

562
00:26:17,160 --> 00:26:20,320
Speaker 1: are some other baby things a baby seat, car carrier?

563
00:26:20,359 --> 00:26:22,480
Speaker 1: You know what I'm saying, Like, what what are those

564
00:26:22,560 --> 00:26:24,760
Speaker 1: things that really stood out to you as being disgustingly

565
00:26:24,840 --> 00:26:25,880
Speaker 1: expensive that you just had.

566
00:26:25,800 --> 00:26:28,200
Speaker 4: To cop There are a number of things that are

567
00:26:29,680 --> 00:26:32,560
Speaker 4: linked to a certain amount of time for your child's life,

568
00:26:32,600 --> 00:26:35,440
Speaker 4: so a capsule or a car seat is very much

569
00:26:35,480 --> 00:26:38,600
Speaker 4: linked to their age. So you're spending maybe five hundred

570
00:26:38,640 --> 00:26:41,880
Speaker 4: dollars three to five hundred on a capsule and it's

571
00:26:41,880 --> 00:26:45,600
Speaker 4: for six months. If your baby is of an average size,

572
00:26:46,280 --> 00:26:48,480
Speaker 4: you know, a bascinette again should be six months. But

573
00:26:48,600 --> 00:26:50,680
Speaker 4: my son was tall, and so by four and a

574
00:26:50,720 --> 00:26:52,520
Speaker 4: half months you'd grown out of it. And I was like, oh,

575
00:26:52,520 --> 00:26:56,280
Speaker 4: my very long boy, Oh my goodness, what I've paid

576
00:26:56,320 --> 00:26:58,720
Speaker 4: for this thing? And where is my six months of

577
00:26:58,960 --> 00:27:03,280
Speaker 4: usage shrink of this? And so there's a number of

578
00:27:03,320 --> 00:27:05,680
Speaker 4: things like that that you can't know at the time

579
00:27:05,720 --> 00:27:08,200
Speaker 4: of purchase how long you're actually going to get out

580
00:27:08,200 --> 00:27:10,359
Speaker 4: of them. I'm hoping this baby is small just so

581
00:27:10,400 --> 00:27:13,960
Speaker 4: I get some more longevity out of some of those items.

582
00:27:14,000 --> 00:27:20,200
Speaker 4: But it's probably not dissimilar to any furniture Homewar's major purchase.

583
00:27:20,280 --> 00:27:23,880
Speaker 4: You can really spend what you want to spend. There

584
00:27:23,960 --> 00:27:27,960
Speaker 4: is a thriving secondhand marketplace in Australia because you don't

585
00:27:28,040 --> 00:27:31,160
Speaker 4: use things for very long, so there is so much

586
00:27:31,160 --> 00:27:35,360
Speaker 4: opportunity for that, which is absolutely something that I recommend

587
00:27:35,480 --> 00:27:39,720
Speaker 4: everyone look at. And then there are other things we

588
00:27:39,880 --> 00:27:42,439
Speaker 4: go if you figure out what's really important to you

589
00:27:43,119 --> 00:27:46,119
Speaker 4: then spend the money. So for instance, I have a

590
00:27:46,160 --> 00:27:50,560
Speaker 4: second hand change table and COT times two now, but

591
00:27:50,600 --> 00:27:53,280
Speaker 4: I have a two thousand dollars PRAM and I feel

592
00:27:53,320 --> 00:27:56,159
Speaker 4: like that was a great allocation of resources And what

593
00:27:56,359 --> 00:27:57,760
Speaker 4: is something So for.

594
00:27:57,800 --> 00:28:01,880
Speaker 3: Me, I'm all about this hand marketplace like I love.

595
00:28:01,960 --> 00:28:05,399
Speaker 3: Everybody in our community knows I love Facebook marketplace.

596
00:28:05,000 --> 00:28:07,240
Speaker 4: Love a good money in But what are.

597
00:28:07,119 --> 00:28:10,240
Speaker 3: Things that I shouldn't be purchasing secondhand when it comes

598
00:28:10,240 --> 00:28:11,280
Speaker 3: to babies.

599
00:28:11,560 --> 00:28:15,679
Speaker 4: Anything that's got a clear safety rating, So things like

600
00:28:15,760 --> 00:28:21,000
Speaker 4: car seats or capsules, arguably prams, they're the things that

601
00:28:21,040 --> 00:28:22,880
Speaker 4: you want to make sure that they're in date, they've

602
00:28:22,920 --> 00:28:27,120
Speaker 4: got the right stickers on them. But really it's up

603
00:28:27,119 --> 00:28:27,440
Speaker 4: to you.

604
00:28:28,000 --> 00:28:31,399
Speaker 3: Is there anything that you would have done differently had

605
00:28:31,480 --> 00:28:33,800
Speaker 3: you had your time again? I know you're going round

606
00:28:33,840 --> 00:28:37,080
Speaker 3: two now, which is super exciting. Are there things that

607
00:28:37,200 --> 00:28:40,480
Speaker 3: you feel like you bought and didn't need, or things

608
00:28:40,520 --> 00:28:43,480
Speaker 3: that you wish you'd bought in different sequences or maybe

609
00:28:43,520 --> 00:28:45,680
Speaker 3: not at all, or maybe have bought earlier.

610
00:28:46,680 --> 00:28:49,360
Speaker 4: Yeah, it's a good question. And I really when I

611
00:28:49,360 --> 00:28:52,840
Speaker 4: fell pregnant this time around, I went back and I

612
00:28:52,920 --> 00:28:55,320
Speaker 4: reread what I spent money on and I sort of

613
00:28:55,400 --> 00:28:58,520
Speaker 4: challenged a lot of the things in there, and it

614
00:28:58,560 --> 00:29:00,520
Speaker 4: was actually quite a feel good experience to go back

615
00:29:00,560 --> 00:29:01,640
Speaker 4: and go, no, no, that that.

616
00:29:01,640 --> 00:29:03,600
Speaker 1: All looks really robust.

617
00:29:04,440 --> 00:29:07,040
Speaker 4: The interesting part of this time around was sort of

618
00:29:07,160 --> 00:29:10,600
Speaker 4: falling pregnant in the back end of twenty twenty and

619
00:29:10,720 --> 00:29:14,080
Speaker 4: some of the considerations like, for instance, I wasn't doing

620
00:29:14,120 --> 00:29:17,440
Speaker 4: politis because you could sort of weren't allowed, you couldn't

621
00:29:17,520 --> 00:29:21,960
Speaker 4: leave the house, and you know, having you know, I

622
00:29:22,000 --> 00:29:27,280
Speaker 4: went through the private system first time around. This time around,

623
00:29:27,360 --> 00:29:30,040
Speaker 4: I've actually been even more reassured about the value of

624
00:29:30,080 --> 00:29:34,320
Speaker 4: that because because of COVID, you know, I've really extrapolated

625
00:29:34,400 --> 00:29:38,680
Speaker 4: even more value from having that contact and the continuity

626
00:29:38,720 --> 00:29:42,320
Speaker 4: of care. So I didn't like the eyelashes that I

627
00:29:42,400 --> 00:29:47,280
Speaker 4: got extended the first time. I've I feel, no, I'm

628
00:29:47,280 --> 00:29:49,840
Speaker 4: absolutely getting them done this time, just like getting a

629
00:29:49,880 --> 00:29:53,440
Speaker 4: different but I'm getting someone different and a different application

630
00:29:53,560 --> 00:29:57,360
Speaker 4: of that that's really important. But I think that speaks

631
00:29:57,400 --> 00:30:00,240
Speaker 4: to my level of dissatisfaction for my first pregnancy if

632
00:30:00,240 --> 00:30:02,800
Speaker 4: that is what I'm picking out. Yeah, okay, well then

633
00:30:02,880 --> 00:30:07,600
Speaker 4: I'm starting from advice because I have a great lash

634
00:30:07,640 --> 00:30:11,920
Speaker 4: technician and like I'll be a set for life, absolutely,

635
00:30:12,000 --> 00:30:14,720
Speaker 4: And so people look back and they're like, oh, you

636
00:30:14,720 --> 00:30:17,640
Speaker 4: spend so much money having kids, But just like planning

637
00:30:17,640 --> 00:30:21,160
Speaker 4: a wedding and going on a holiday, if you're clever

638
00:30:21,320 --> 00:30:24,640
Speaker 4: and intentional around it, you don't have to feel bad

639
00:30:24,680 --> 00:30:27,000
Speaker 4: about it. I feel fabulous. We spent nearly twenty thousand

640
00:30:27,040 --> 00:30:31,000
Speaker 4: dollars when our sun was born, and I don't have

641
00:30:31,520 --> 00:30:34,960
Speaker 4: any regret over that, whereas I know there's a lot

642
00:30:34,960 --> 00:30:38,200
Speaker 4: of people who do because they're just shelling it out

643
00:30:38,640 --> 00:30:41,959
Speaker 4: and that everything you did was planned and formulated and

644
00:30:42,040 --> 00:30:43,880
Speaker 4: had considition behind it, and I.

645
00:30:43,840 --> 00:30:46,960
Speaker 3: Really like that you touched on something before that you're

646
00:30:47,000 --> 00:30:49,920
Speaker 3: going through the private system, and I would love to

647
00:30:50,000 --> 00:30:53,640
Speaker 3: know firsthand. Obviously I've done a bit of research and

648
00:30:53,640 --> 00:30:57,160
Speaker 3: I can pragmatically see the differences, But to you as

649
00:30:57,200 --> 00:31:00,479
Speaker 3: a mum, what is the difference between public versus private

650
00:31:00,520 --> 00:31:02,320
Speaker 3: and why have you chosen to go private?

651
00:31:02,360 --> 00:31:10,280
Speaker 4: Again? There's a number of practical, emotional, ancillary benefits associated

652
00:31:10,320 --> 00:31:12,680
Speaker 4: with the two different systems, and I should point out

653
00:31:12,920 --> 00:31:15,800
Speaker 4: we're starting from a base. The public system in Australia

654
00:31:16,280 --> 00:31:17,000
Speaker 4: is fantastic.

655
00:31:17,120 --> 00:31:20,240
Speaker 3: We ranted on about that ye Starr podcast before we

656
00:31:20,320 --> 00:31:21,200
Speaker 3: let you in the studio.

657
00:31:21,520 --> 00:31:25,160
Speaker 4: I'm glad that that has been covered in depth. For me,

658
00:31:26,040 --> 00:31:29,680
Speaker 4: having started with my first pregnancy was a miscarriage. Going

659
00:31:29,720 --> 00:31:32,440
Speaker 4: through my second pregnancy, which is where we brought our

660
00:31:32,480 --> 00:31:36,080
Speaker 4: son into the world, having continuity of care, having the

661
00:31:36,160 --> 00:31:39,880
Speaker 4: same care who actually took me through that miscarriage was

662
00:31:40,000 --> 00:31:44,200
Speaker 4: worth thousands and thousands and thousands of dollars. And so

663
00:31:44,920 --> 00:31:47,920
Speaker 4: I mean ironically that obstitution was on call the night

664
00:31:47,960 --> 00:31:50,880
Speaker 4: that I went into labor, so she delivered our son.

665
00:31:51,480 --> 00:31:56,080
Speaker 4: So that is an incredible piece of value for fast

666
00:31:56,080 --> 00:32:00,000
Speaker 4: to extrapolate. I think it speaks to your risk preferences,

667
00:32:00,360 --> 00:32:05,040
Speaker 4: your tolerances. It also speaks for me. I just liked it,

668
00:32:05,960 --> 00:32:08,280
Speaker 4: you know it, you know really just you just feel good,

669
00:32:08,360 --> 00:32:12,440
Speaker 4: just feel more comfortable sometimes, you know, buying something from

670
00:32:12,480 --> 00:32:15,360
Speaker 4: Maya feels better than it does from buying it from Kmart.

671
00:32:15,400 --> 00:32:18,240
Speaker 1: And for this element.

672
00:32:17,840 --> 00:32:20,200
Speaker 4: Of my life, that's I wanted to know that I

673
00:32:20,280 --> 00:32:23,920
Speaker 4: was going top of the line. Yeah, and I really

674
00:32:24,000 --> 00:32:26,040
Speaker 4: like that because I think I own that. Yeah.

675
00:32:26,120 --> 00:32:28,400
Speaker 3: Yeah, And I think it really speaks to just values

676
00:32:28,440 --> 00:32:30,840
Speaker 3: and that's what we spoke about earlier in the pod.

677
00:32:30,960 --> 00:32:33,719
Speaker 4: And it's just about okay, Like it is a choice.

678
00:32:33,800 --> 00:32:36,080
Speaker 3: Yes, if you look at it financially, public is going

679
00:32:36,120 --> 00:32:38,920
Speaker 3: to be cheaper, but there's so much other value in it,

680
00:32:39,000 --> 00:32:41,400
Speaker 3: and I don't want to discredit that because it's about

681
00:32:41,440 --> 00:32:44,520
Speaker 3: your comfort. It's about how comfortable you are and confident

682
00:32:44,560 --> 00:32:47,040
Speaker 3: you are going into that process, and I think that's

683
00:32:47,080 --> 00:32:49,600
Speaker 3: only a decision that you can make. Yeah, and if

684
00:32:49,600 --> 00:32:51,880
Speaker 3: you're faced with not being able to make that decision

685
00:32:51,960 --> 00:32:54,640
Speaker 3: because private might be out of your control or out

686
00:32:54,640 --> 00:32:57,280
Speaker 3: of your budget completely, I think it's also to say

687
00:32:57,360 --> 00:33:00,000
Speaker 3: it's not actually something you need. It is definitely a luxury.

688
00:33:00,040 --> 00:33:03,040
Speaker 3: It is definitely something that you choose. And our public

689
00:33:03,120 --> 00:33:06,320
Speaker 3: system is incredible anyway, so it's kind of like we're

690
00:33:06,360 --> 00:33:09,000
Speaker 3: starting from an incredible basis. It's going to meet all

691
00:33:09,040 --> 00:33:11,520
Speaker 3: the needs that you have. But if you want something

692
00:33:11,560 --> 00:33:14,080
Speaker 3: more and you're paying for private health, well go for it.

693
00:33:14,160 --> 00:33:16,760
Speaker 4: My friends, absolutely, And I would consider myself to be

694
00:33:16,800 --> 00:33:22,959
Speaker 4: a fairly well research person on the transition experience of

695
00:33:23,000 --> 00:33:26,800
Speaker 4: becoming a mother, the different ways that you can do it,

696
00:33:26,920 --> 00:33:31,560
Speaker 4: from home births to birth centers to hospitals to that

697
00:33:32,120 --> 00:33:36,680
Speaker 4: transformative experience, and I'm a big advocate for the ways

698
00:33:36,720 --> 00:33:39,880
Speaker 4: that women can bring their babies into the world, and

699
00:33:40,560 --> 00:33:42,920
Speaker 4: I felt like in the private system you had a

700
00:33:42,920 --> 00:33:46,920
Speaker 4: lot more of a platform to advocate for yourself compared

701
00:33:46,960 --> 00:33:50,440
Speaker 4: to being perhaps a bit of a price taker or

702
00:33:51,360 --> 00:33:52,680
Speaker 4: at the mercy of a system.

703
00:33:52,720 --> 00:33:54,719
Speaker 1: That is the reality is in Australia.

704
00:33:54,720 --> 00:33:59,080
Speaker 4: It's also very clinical, very medical, and certainly for my

705
00:33:59,120 --> 00:34:02,800
Speaker 4: first pregnancy, even more so for this this second one

706
00:34:03,240 --> 00:34:06,840
Speaker 4: or first child, second child, I knew what I wanted

707
00:34:06,840 --> 00:34:09,120
Speaker 4: and I wanted to feel comfortable that I would have

708
00:34:09,160 --> 00:34:10,719
Speaker 4: a voice to advocate for that.

709
00:34:11,520 --> 00:34:14,640
Speaker 3: I think that's really powerful as well. And knowing you

710
00:34:15,120 --> 00:34:18,279
Speaker 3: and knowing how research you are, you definitely are wealth

711
00:34:18,320 --> 00:34:21,120
Speaker 3: of knowledge when it comes to that, and you know,

712
00:34:21,200 --> 00:34:24,120
Speaker 3: researching this, I actually thought that a home birth was

713
00:34:24,160 --> 00:34:28,000
Speaker 3: something you did by accident, like you didn't get that's like, yeah,

714
00:34:28,440 --> 00:34:30,960
Speaker 3: I had my But it turns out people plan that,

715
00:34:31,080 --> 00:34:32,240
Speaker 3: like they actually.

716
00:34:32,080 --> 00:34:37,240
Speaker 4: Plan to give birth absolutely and you know, considering risk profiles.

717
00:34:37,440 --> 00:34:40,799
Speaker 4: And because I had an emergency seas up for my son.

718
00:34:41,560 --> 00:34:43,360
Speaker 4: If it wasn't for that, I reckon I would have

719
00:34:43,640 --> 00:34:46,799
Speaker 4: really entertained that idea. My husband would have been horrified,

720
00:34:48,000 --> 00:34:50,160
Speaker 4: but it's something that I would have considered even a

721
00:34:50,200 --> 00:34:52,720
Speaker 4: private midwife. Most people don't know that that is an option,

722
00:34:53,520 --> 00:34:57,160
Speaker 4: and there's a tremendous value or having a dueler. There's

723
00:34:57,239 --> 00:35:00,560
Speaker 4: there's a number of support systems that really speaks to

724
00:35:00,960 --> 00:35:03,960
Speaker 4: the value of doing your own research, being financially prepared

725
00:35:03,960 --> 00:35:06,160
Speaker 4: for this so that you can actually have the experience

726
00:35:06,200 --> 00:35:10,400
Speaker 4: you want, not getting to pregnancy thinking about what you

727
00:35:10,440 --> 00:35:12,400
Speaker 4: want and then going, oh, crap, I can't afford that,

728
00:35:12,520 --> 00:35:14,560
Speaker 4: or I haven't allocated money for that, or now I

729
00:35:14,640 --> 00:35:16,560
Speaker 4: have to not get the PRAM I want because I

730
00:35:16,640 --> 00:35:20,000
Speaker 4: want to invest in support. We should never be making.

731
00:35:19,760 --> 00:35:23,200
Speaker 3: Trade offs like that one hundred percent. So, touching on

732
00:35:23,360 --> 00:35:26,160
Speaker 3: saving and planning, how far in advance were you and

733
00:35:26,200 --> 00:35:28,960
Speaker 3: your husband saving for a baby. At what point did

734
00:35:29,000 --> 00:35:30,759
Speaker 3: this become a part of your budget.

735
00:35:30,440 --> 00:35:34,680
Speaker 4: And cash flow? Yep, so probably a year or two out,

736
00:35:35,280 --> 00:35:38,279
Speaker 4: because we're also believers in not having more cash than

737
00:35:38,280 --> 00:35:42,640
Speaker 4: we need to. Then there was there's always a ramp

738
00:35:42,719 --> 00:35:45,239
Speaker 4: up period when it's real, right, So we had the

739
00:35:45,239 --> 00:35:49,160
Speaker 4: bulk of what we needed to and then we felt pregnant,

740
00:35:49,520 --> 00:35:52,960
Speaker 4: and then we had a miscarriage, which is really expensive.

741
00:35:53,200 --> 00:35:55,719
Speaker 4: It's something that I'm a being believer in putting that

742
00:35:55,760 --> 00:35:56,719
Speaker 4: message out there.

743
00:35:57,320 --> 00:35:59,920
Speaker 3: How much was your miscarriage? How much did that end

744
00:36:00,120 --> 00:36:00,840
Speaker 3: up costing you?

745
00:36:01,160 --> 00:36:03,759
Speaker 4: So essentially you pay up to what you would have

746
00:36:03,800 --> 00:36:06,480
Speaker 4: otherwise paid for a healthy pregnancy to that point. So

747
00:36:06,960 --> 00:36:10,320
Speaker 4: depending on how far you've progressed, it can really impact

748
00:36:10,360 --> 00:36:13,160
Speaker 4: the cost. So I had a miscarriage at eight weeks

749
00:36:13,680 --> 00:36:16,400
Speaker 4: and all in all was just under one thousand dollars

750
00:36:16,920 --> 00:36:21,160
Speaker 4: of that's a lot of money plus emotional or impact

751
00:36:21,239 --> 00:36:25,080
Speaker 4: plus you know potentially if you had any time off work,

752
00:36:25,120 --> 00:36:29,359
Speaker 4: if you were unpaid during that point in time. So yeah,

753
00:36:29,640 --> 00:36:32,080
Speaker 4: it's a bizarre one. So when we talk about saying

754
00:36:32,080 --> 00:36:34,040
Speaker 4: we spent almost twenty thousand dollars to have our sun,

755
00:36:34,120 --> 00:36:37,400
Speaker 4: that includes one thousand dollars of essentially a false start

756
00:36:38,520 --> 00:36:43,239
Speaker 4: that most people probably don't factor into their considerations, let

757
00:36:43,320 --> 00:36:47,200
Speaker 4: alone you might have several miscarriages, and a lot.

758
00:36:47,040 --> 00:36:50,319
Speaker 3: Of people do, and it's not spoken about enough that

759
00:36:50,480 --> 00:36:53,800
Speaker 3: this happens so much more regularly than you know people

760
00:36:53,880 --> 00:36:56,719
Speaker 3: talk about. And that's really sad because it is so

761
00:36:56,840 --> 00:36:59,080
Speaker 3: common and we should be supporting each other through this.

762
00:36:59,200 --> 00:37:02,439
Speaker 3: Like I've got girlfriends who have had multiple miscarriages, and

763
00:37:02,719 --> 00:37:05,840
Speaker 3: that's not something that they speak about, which is sad

764
00:37:05,880 --> 00:37:07,040
Speaker 3: because it still.

765
00:37:06,800 --> 00:37:08,880
Speaker 4: Was real and it was still with something you went through.

766
00:37:08,960 --> 00:37:11,960
Speaker 3: And to be honest, I'm grateful that I know because

767
00:37:12,000 --> 00:37:14,440
Speaker 3: coming into this process hopefully in the next couple of

768
00:37:14,520 --> 00:37:17,239
Speaker 3: years for myself, like I'm glad to know that I'm

769
00:37:17,280 --> 00:37:19,920
Speaker 3: not alone if that ever happens. And I think that

770
00:37:19,920 --> 00:37:23,399
Speaker 3: that is more powerful than even just having resources, because

771
00:37:23,400 --> 00:37:25,799
Speaker 3: you can google it says one in four women will

772
00:37:25,920 --> 00:37:28,920
Speaker 3: experience a miscarriage, or it's one in for pregnancies I'm sorry,

773
00:37:28,960 --> 00:37:32,759
Speaker 3: not just women, And that's a crazy number to think

774
00:37:32,800 --> 00:37:35,719
Speaker 3: how little we discuss this topic openly and honestly and

775
00:37:35,760 --> 00:37:37,200
Speaker 3: say well, this is what it costs, this.

776
00:37:37,239 --> 00:37:40,560
Speaker 4: Is how it works. And that's not including actually any

777
00:37:40,680 --> 00:37:43,840
Speaker 4: mental health support, like paid mental health support around that,

778
00:37:44,000 --> 00:37:47,480
Speaker 4: so it absolutely could be more than that. And that's

779
00:37:47,520 --> 00:37:52,640
Speaker 4: also not including any reproductive or fertility support, which can

780
00:37:52,960 --> 00:37:57,200
Speaker 4: you know write from vitamins through to IVF that can really.

781
00:37:58,080 --> 00:37:58,719
Speaker 1: Check up the cost.

782
00:37:58,840 --> 00:38:03,960
Speaker 4: But essentially twelve to eighteen months of cash flow savings

783
00:38:04,000 --> 00:38:10,080
Speaker 4: which got us reasonably close then we had a viable pregnancy,

784
00:38:10,120 --> 00:38:13,120
Speaker 4: we were often running, started spending and then went oh,

785
00:38:13,120 --> 00:38:16,200
Speaker 4: actually we don't have enough. This is unfolding at a

786
00:38:16,239 --> 00:38:19,040
Speaker 4: different rate, and so we had to do a bit

787
00:38:19,040 --> 00:38:23,520
Speaker 4: of a top up. So far, this current pregnancy is

788
00:38:23,560 --> 00:38:27,640
Speaker 4: actually going reasonably close to what we thought so far.

789
00:38:28,000 --> 00:38:31,200
Speaker 4: I think we're about ten grand down with a month

790
00:38:31,480 --> 00:38:31,799
Speaker 4: to go.

791
00:38:32,400 --> 00:38:35,400
Speaker 3: So what are you spending on this pregnancy and what

792
00:38:35,560 --> 00:38:37,920
Speaker 3: is able to be reused from last pregnancy?

793
00:38:38,760 --> 00:38:41,239
Speaker 4: So I've factored in about twelve and a half is

794
00:38:41,280 --> 00:38:44,799
Speaker 4: what I'm expecting this. That's the economies of scale. Those

795
00:38:44,880 --> 00:38:49,440
Speaker 4: costs to be about four or five thousand dollars cheaper

796
00:38:49,480 --> 00:38:52,680
Speaker 4: than the last one. Thank you, second child. And the

797
00:38:52,760 --> 00:38:57,600
Speaker 4: reality is most of that is going towards medical expenses

798
00:38:57,719 --> 00:38:58,960
Speaker 4: or caring for me.

799
00:38:59,520 --> 00:39:00,160
Speaker 1: Yeah.

800
00:39:00,160 --> 00:39:04,000
Speaker 4: So the capital costs of the PRAM and the car

801
00:39:04,080 --> 00:39:06,360
Speaker 4: seat and the capsule, they're great, They're done.

802
00:39:06,800 --> 00:39:08,799
Speaker 1: I guess poor.

803
00:39:08,600 --> 00:39:11,040
Speaker 4: Planning, great planning, whichever way you want to look at it.

804
00:39:11,239 --> 00:39:13,480
Speaker 4: Our children will be quite close together, so there are

805
00:39:13,520 --> 00:39:15,359
Speaker 4: certain things that we have had to double up on,

806
00:39:15,400 --> 00:39:17,800
Speaker 4: Like we have two cots. We have two change tables

807
00:39:17,840 --> 00:39:20,640
Speaker 4: because our son won't have grown out of them before

808
00:39:21,080 --> 00:39:23,719
Speaker 4: before this bub needs them. So there is a little

809
00:39:23,760 --> 00:39:27,240
Speaker 4: bit of overlap. But in the scheme of things, most

810
00:39:27,280 --> 00:39:31,680
Speaker 4: of the costs are associated with either buying some new

811
00:39:31,760 --> 00:39:35,080
Speaker 4: bamboo valtor wipes because we need lots of those. There's

812
00:39:35,120 --> 00:39:39,160
Speaker 4: now two dirty bottoms yeap well, and the ones from

813
00:39:39,200 --> 00:39:43,680
Speaker 4: my son absolutely had it, but the rest of it

814
00:39:43,480 --> 00:39:46,560
Speaker 4: is stuff that we consumed essentially.

815
00:39:47,160 --> 00:39:50,400
Speaker 1: Beck, I wanted to ask you about the saving process,

816
00:39:50,480 --> 00:39:53,240
Speaker 1: So saving in the lead up to having the baby

817
00:39:53,400 --> 00:39:56,839
Speaker 1: and now tips for saving when you actually have had

818
00:39:57,160 --> 00:39:57,760
Speaker 1: the child.

819
00:39:58,400 --> 00:40:01,640
Speaker 4: What would you say? They're so I'm a massive advocate

820
00:40:01,680 --> 00:40:03,839
Speaker 4: for a separate bank account. You know, if you've got

821
00:40:03,840 --> 00:40:06,279
Speaker 4: any goal that's in the next couple of years, it

822
00:40:06,320 --> 00:40:08,640
Speaker 4: needs its own bank account. It needs to be clearly labeled.

823
00:40:08,640 --> 00:40:11,120
Speaker 4: So we had the family account. It was actually an

824
00:40:11,120 --> 00:40:14,640
Speaker 4: offset against our mortgage, which was fabulous, and we were

825
00:40:15,200 --> 00:40:20,600
Speaker 4: periodically saving into that baby over a number of months

826
00:40:20,680 --> 00:40:23,279
Speaker 4: leading up to it. We then, actually my husband and

827
00:40:23,360 --> 00:40:26,839
Speaker 4: I had always had individual spending accounts, and we set

828
00:40:26,880 --> 00:40:30,760
Speaker 4: up a third account, so I had a transaction ACCRD

829
00:40:31,080 --> 00:40:35,680
Speaker 4: for once well, one to use during pregnancy, but also

830
00:40:36,080 --> 00:40:39,680
Speaker 4: for the ongoing costs associated with children, because it doesn't

831
00:40:39,680 --> 00:40:44,839
Speaker 4: stop when really when you're having having the baby, it continues,

832
00:40:45,400 --> 00:40:47,759
Speaker 4: and so that's been really useful to have it on

833
00:40:47,800 --> 00:40:50,359
Speaker 4: an ongoing basis, so that we're not having to make

834
00:40:50,840 --> 00:40:53,680
Speaker 4: personal spending trade offs be like oh, who's getting the

835
00:40:53,800 --> 00:40:57,400
Speaker 4: nappies or who's doing this. It also allows me to

836
00:40:57,400 --> 00:41:00,759
Speaker 4: think ahead and like bolk purchase things about trying to

837
00:41:00,840 --> 00:41:03,800
Speaker 4: squeeze it into your own personal exactly.

838
00:41:04,080 --> 00:41:06,080
Speaker 3: So that's something that my partner and I do. We

839
00:41:06,120 --> 00:41:08,600
Speaker 3: have our own spending accounts, but then we also have

840
00:41:08,719 --> 00:41:12,920
Speaker 3: joint savings and join everything else. So that's changed by

841
00:41:12,960 --> 00:41:16,640
Speaker 3: having one account for baby related expenses now and still

842
00:41:16,640 --> 00:41:19,759
Speaker 3: your personal Is that what you'd recommend to your clients too, Like,

843
00:41:19,920 --> 00:41:21,719
Speaker 3: is that a way that is just working for you

844
00:41:21,840 --> 00:41:23,600
Speaker 3: or have you seen that working with your clients?

845
00:41:23,640 --> 00:41:26,719
Speaker 4: Like? How does that? More often than not? That is

846
00:41:27,080 --> 00:41:29,600
Speaker 4: the preferred approach for a number of my clients. If

847
00:41:29,600 --> 00:41:32,200
Speaker 4: you have an established track record of being able to

848
00:41:32,200 --> 00:41:35,920
Speaker 4: manage joint spending already, you can probably make it work.

849
00:41:35,960 --> 00:41:38,560
Speaker 4: But certainly if you've been used to having a bit

850
00:41:38,560 --> 00:41:41,680
Speaker 4: of autonomy or independence or that's just how you like

851
00:41:41,760 --> 00:41:45,160
Speaker 4: to manage things, then having a separate account. I've actually

852
00:41:45,200 --> 00:41:47,760
Speaker 4: seen this separate account work really well for pets as well,

853
00:41:48,560 --> 00:41:53,640
Speaker 4: just those things that are really communal expenses that also

854
00:41:53,840 --> 00:41:57,360
Speaker 4: need to be done. Yeah, it's like let's be pragmatic.

855
00:41:57,440 --> 00:42:01,759
Speaker 4: Let's call a spade a spade on this, and that

856
00:42:01,960 --> 00:42:07,200
Speaker 4: covers everything from you know, early days that was covering ubers,

857
00:42:07,560 --> 00:42:12,080
Speaker 4: uber eats and paying for parking for hospital visits through

858
00:42:12,160 --> 00:42:16,520
Speaker 4: to four zero three zero two zero sized clothing through

859
00:42:16,560 --> 00:42:19,400
Speaker 4: to I still don't nappies are on sale. I no

860
00:42:19,520 --> 00:42:22,560
Speaker 4: idea that's for me. I bought a thousand nappies the

861
00:42:22,560 --> 00:42:26,799
Speaker 4: other day, a thousand in the first two sizes like

862
00:42:26,800 --> 00:42:29,080
Speaker 4: a newborn, and so it was the next size up.

863
00:42:29,160 --> 00:42:31,720
Speaker 4: That's a lot of nappy, I know, but I'm set

864
00:42:31,760 --> 00:42:35,720
Speaker 4: for a couple of months. Now it's done, it's tucked away.

865
00:42:36,080 --> 00:42:38,279
Speaker 4: And yeah, if I had to tuck that into my

866
00:42:38,280 --> 00:42:40,680
Speaker 4: personal spending, I'd be buying them in blocks of thirty

867
00:42:40,719 --> 00:42:42,240
Speaker 4: because that would be all I could wrangle.

868
00:42:42,239 --> 00:42:43,799
Speaker 1: Whereas I know I've got a great deal.

869
00:42:43,880 --> 00:42:46,000
Speaker 4: I'm just envious that she has enough space in her

870
00:42:46,000 --> 00:42:48,680
Speaker 4: house for a thousand. You should see what I did

871
00:42:48,680 --> 00:42:50,840
Speaker 4: with my granola supplies. So that was one thing that

872
00:42:50,880 --> 00:42:55,600
Speaker 4: I did last time. I've done this. So I love

873
00:42:55,680 --> 00:42:59,800
Speaker 4: to make my own granola. And you know, buying not

874
00:43:00,120 --> 00:43:02,680
Speaker 4: some grains can be quite expensive if you don't have

875
00:43:02,719 --> 00:43:04,719
Speaker 4: a good supply. I have a great supplier, but I

876
00:43:04,760 --> 00:43:07,759
Speaker 4: have to go to a market. Yeah, And so I

877
00:43:07,800 --> 00:43:10,640
Speaker 4: asked him if I could bold purchase last time. And

878
00:43:10,719 --> 00:43:14,600
Speaker 4: so I have kilos I just picked it up the

879
00:43:14,600 --> 00:43:19,640
Speaker 4: other day, of oats and chia and limb seeds and almonds,

880
00:43:19,680 --> 00:43:22,759
Speaker 4: and so I've got basically supplies to make six months

881
00:43:22,800 --> 00:43:25,839
Speaker 4: of granola, but at a fraction of the cost. Because

882
00:43:25,880 --> 00:43:28,560
Speaker 4: that genius, she's a genius important to me.

883
00:43:29,120 --> 00:43:30,839
Speaker 3: This is not even the first time I've heard about

884
00:43:30,880 --> 00:43:33,880
Speaker 3: Rebecca's granola, so good? Are you willing to share that

885
00:43:33,960 --> 00:43:36,600
Speaker 3: recipe with our community? Can we put that in the newsletter.

886
00:43:36,840 --> 00:43:39,360
Speaker 4: I'll send you a photo of my I'm very excited

887
00:43:39,400 --> 00:43:42,080
Speaker 4: my linen press at the moment because it looks I'm

888
00:43:42,120 --> 00:43:45,600
Speaker 4: actually sad to sort of amortize that those supplies over

889
00:43:45,600 --> 00:43:49,280
Speaker 4: the next months, because it just looks so beautiful looking

890
00:43:49,280 --> 00:43:53,480
Speaker 4: at it, between my nappy supplies and and this this granola. Oh,

891
00:43:53,520 --> 00:43:55,680
Speaker 4: it to work a lot. She would have been set

892
00:43:55,680 --> 00:43:58,759
Speaker 4: through COVID, honestly. But also, if there's an apocalypse come

893
00:43:58,800 --> 00:44:00,000
Speaker 4: to my house, you will be well for.

894
00:44:01,480 --> 00:44:05,719
Speaker 3: I'm not surprised, honestly, I'm really not. So Back to

895
00:44:05,840 --> 00:44:08,960
Speaker 3: questions about budgeting and saving because this is she's on

896
00:44:09,040 --> 00:44:10,560
Speaker 3: the money, not she's.

897
00:44:10,280 --> 00:44:11,759
Speaker 4: On the granola.

898
00:44:12,120 --> 00:44:16,120
Speaker 3: How would I attribute different budgets to different areas of spending.

899
00:44:16,280 --> 00:44:18,040
Speaker 3: So we know that there's prems, but we also know

900
00:44:18,120 --> 00:44:20,480
Speaker 3: medical expenses like are they different accounts or is it

901
00:44:20,560 --> 00:44:22,520
Speaker 3: one kind of slush fund or how do you run that?

902
00:44:22,960 --> 00:44:24,719
Speaker 4: Look, I believe doing a bit of a back of

903
00:44:24,760 --> 00:44:27,799
Speaker 4: the envelope calculation is important, but have a good think

904
00:44:28,000 --> 00:44:32,960
Speaker 4: upfront about what is important to you. So medical expenses

905
00:44:33,320 --> 00:44:36,960
Speaker 4: are one large and certainly if you go private, large

906
00:44:36,960 --> 00:44:41,920
Speaker 4: and chunky and not negotiable. Yeah, but they are also

907
00:44:42,000 --> 00:44:46,680
Speaker 4: different from say personal care. So there's nothing like being

908
00:44:46,719 --> 00:44:50,040
Speaker 4: pregnant to be told by other people external people like

909
00:44:50,080 --> 00:44:52,600
Speaker 4: you should go get a massage. You know, this is

910
00:44:52,640 --> 00:44:55,960
Speaker 4: the time to look after yourself. But you can really

911
00:44:56,040 --> 00:44:58,680
Speaker 4: drop a heap of money in personal care.

912
00:44:59,280 --> 00:45:01,920
Speaker 3: Quotation sign gate pregnant and if someone says skeedama, so

913
00:45:01,960 --> 00:45:03,160
Speaker 3: I should be like, oh.

914
00:45:02,880 --> 00:45:04,040
Speaker 4: You've twisted my arm.

915
00:45:04,480 --> 00:45:05,319
Speaker 1: I'll do it every day.

916
00:45:05,520 --> 00:45:07,919
Speaker 4: But thinking personal care can mean a number of things.

917
00:45:07,920 --> 00:45:12,400
Speaker 4: It could be the clinical pilates, it could be a PTE,

918
00:45:12,760 --> 00:45:15,040
Speaker 4: it could be the acupuncture. It could be the fact

919
00:45:15,040 --> 00:45:17,040
Speaker 4: that you actually have no choice but to see Cairo

920
00:45:17,160 --> 00:45:21,480
Speaker 4: because your back is just battling so much. It could

921
00:45:21,520 --> 00:45:24,080
Speaker 4: be getting your eyelashes done. So personal care can be

922
00:45:24,160 --> 00:45:26,359
Speaker 4: a number of different things, And depending on your health

923
00:45:26,440 --> 00:45:29,600
Speaker 4: going into the pregnancy and how your body holds up

924
00:45:29,760 --> 00:45:33,520
Speaker 4: and your mind holds up during pregnancy, it might be

925
00:45:35,000 --> 00:45:38,239
Speaker 4: entirely discretionary or it might be non negotiable. So that's

926
00:45:38,239 --> 00:45:43,279
Speaker 4: a whole different section opposed to paying for an obstric Yeah. Absolutely.

927
00:45:43,320 --> 00:45:47,520
Speaker 4: Then we've got things like the startup capital associated with

928
00:45:47,600 --> 00:45:50,240
Speaker 4: the hardware that you need to get, so the prim

929
00:45:50,440 --> 00:45:55,759
Speaker 4: the stuff. Then we've got a baby paraphernalia category of

930
00:45:56,440 --> 00:46:00,359
Speaker 4: I don't know, let's call it nesting. So creating the

931
00:46:00,480 --> 00:46:03,960
Speaker 4: space that is beautiful is functional, which is different. I

932
00:46:03,960 --> 00:46:07,200
Speaker 4: would argue to the basics buying a cop like you

933
00:46:07,280 --> 00:46:10,239
Speaker 4: have to have somewhere for the baby to sleep. But

934
00:46:11,000 --> 00:46:15,080
Speaker 4: I think we all when we visualize interest, we're thinking

935
00:46:15,160 --> 00:46:21,880
Speaker 4: about these beautifully instagrammable rooms with some sort of crochet

936
00:46:22,160 --> 00:46:26,000
Speaker 4: throw over, a beautiful rocking chair, and so that thought

937
00:46:26,040 --> 00:46:28,000
Speaker 4: you just got that, Like I thought that was just

938
00:46:28,080 --> 00:46:30,520
Speaker 4: like how you had to do it, And so thinking

939
00:46:30,560 --> 00:46:33,360
Speaker 4: about how important that is to you, what it looks

940
00:46:33,440 --> 00:46:36,080
Speaker 4: like how you want to spend it. So do you

941
00:46:36,200 --> 00:46:43,360
Speaker 4: want to have you know, locally made, sustainably sourced versions.

942
00:46:42,960 --> 00:46:43,680
Speaker 1: Of all of that?

943
00:46:44,080 --> 00:46:46,320
Speaker 4: Are you happy to have the look? But it's actually

944
00:46:46,360 --> 00:46:54,520
Speaker 4: from you know, a mass produced supplier. Oh what insert

945
00:46:54,600 --> 00:46:58,319
Speaker 4: your favorite discount chain in there, and thinking about what

946
00:46:58,400 --> 00:47:00,759
Speaker 4: you want what you want that to look life like.

947
00:47:00,840 --> 00:47:03,800
Speaker 4: For instance, I spent three hundred dollars on plants for

948
00:47:03,920 --> 00:47:06,080
Speaker 4: my son's nursery because I was that would absolutely be

949
00:47:06,200 --> 00:47:08,800
Speaker 4: that is really important to me because it adds oxygen

950
00:47:08,920 --> 00:47:12,440
Speaker 4: space blah blah blah. I like that. She justified it too,

951
00:47:12,600 --> 00:47:14,759
Speaker 4: my friend. You don't need to justify plants. We just

952
00:47:14,800 --> 00:47:17,839
Speaker 4: buy plants. Plants make people happy. And then you can

953
00:47:17,920 --> 00:47:23,399
Speaker 4: even you know, consider the category of baby's clothing, right,

954
00:47:24,040 --> 00:47:26,920
Speaker 4: so that is absolutely an area that you can be like,

955
00:47:27,000 --> 00:47:29,000
Speaker 4: oh but it's so eaty bitty and I want to

956
00:47:29,040 --> 00:47:31,640
Speaker 4: get at this and I want to do that, and

957
00:47:31,880 --> 00:47:36,000
Speaker 4: some people that's really important and they want, you know, again,

958
00:47:36,560 --> 00:47:41,240
Speaker 4: locally handmade, some people want designers. Some people are perfectly

959
00:47:41,280 --> 00:47:45,560
Speaker 4: happy with seconds. So you can spend literally nothing to

960
00:47:45,920 --> 00:47:49,799
Speaker 4: through two thousands of dollars on just baby clothes that

961
00:47:50,520 --> 00:47:53,600
Speaker 4: you know, the first two sizes, four zeros and three

962
00:47:53,680 --> 00:47:55,799
Speaker 4: zeros are both designed to get you from zero to

963
00:47:55,840 --> 00:47:58,800
Speaker 4: three months. But I could actually have a baby who's

964
00:47:58,880 --> 00:48:01,759
Speaker 4: born at four kilos and just bypasses those first five

965
00:48:01,840 --> 00:48:04,799
Speaker 4: hundred nappies that I've already purchased for them. And so

966
00:48:05,160 --> 00:48:07,440
Speaker 4: we have to think about these different things, and so

967
00:48:08,120 --> 00:48:12,160
Speaker 4: I guess understanding the different categories that are relevant, that

968
00:48:12,239 --> 00:48:15,680
Speaker 4: there are several categories that are relevant thinking about what

969
00:48:15,840 --> 00:48:21,160
Speaker 4: is important to you and how you want to allocate

970
00:48:21,320 --> 00:48:24,600
Speaker 4: your resources, because we have finite resources, and if you

971
00:48:24,600 --> 00:48:27,759
Speaker 4: don't keep an eye on this, there are it is

972
00:48:27,960 --> 00:48:31,080
Speaker 4: very easy to be dropping twenty five thirty thousand dollars

973
00:48:32,320 --> 00:48:35,280
Speaker 4: and not being aware of it. And this is before

974
00:48:35,400 --> 00:48:38,919
Speaker 4: we talk about the financial implications of one or both

975
00:48:39,000 --> 00:48:40,840
Speaker 4: parents being out of the workforce.

976
00:48:41,360 --> 00:48:44,560
Speaker 3: And that's the next question that I actually had for you.

977
00:48:45,320 --> 00:48:47,879
Speaker 3: How do you plan for that? I know you are

978
00:48:48,040 --> 00:48:50,439
Speaker 3: a bit like me and that you adore your job

979
00:48:50,520 --> 00:48:52,480
Speaker 3: and could not wait to get back to it. So

980
00:48:52,600 --> 00:48:54,480
Speaker 3: you were not the type of person that were like,

981
00:48:54,680 --> 00:48:56,680
Speaker 3: oh kay, cool, like I'll see how much Matt Lee

982
00:48:56,680 --> 00:48:59,120
Speaker 3: if I could get I think from memory, you were like,

983
00:48:59,280 --> 00:49:00,239
Speaker 3: how little can I get?

984
00:49:00,239 --> 00:49:02,280
Speaker 4: Away with tak me through.

985
00:49:02,120 --> 00:49:04,799
Speaker 3: That decision and how you made the decision to be

986
00:49:05,080 --> 00:49:07,120
Speaker 3: you know, who was a stay home parent. Was there

987
00:49:07,160 --> 00:49:08,840
Speaker 3: a stay at home parent, did you have support?

988
00:49:09,000 --> 00:49:13,000
Speaker 4: How do we look at that? It's a really tough

989
00:49:13,040 --> 00:49:18,000
Speaker 4: one and I really challenge all women more often than men,

990
00:49:18,480 --> 00:49:23,319
Speaker 4: but all people in general to really think about what

991
00:49:23,360 --> 00:49:25,719
Speaker 4: they want and why they want it and not go

992
00:49:25,800 --> 00:49:30,800
Speaker 4: through the default settings, because unfortunately, in Australia, default settings

993
00:49:30,840 --> 00:49:33,919
Speaker 4: are women you will have twelve months off work.

994
00:49:34,040 --> 00:49:35,840
Speaker 1: Men you will have one to two weeks.

995
00:49:36,719 --> 00:49:41,000
Speaker 4: That is I don't believe acceptable for a number of

996
00:49:41,040 --> 00:49:44,880
Speaker 4: different reasons on both sides of the spectrum. So I

997
00:49:45,040 --> 00:49:49,640
Speaker 4: really challenged myself my husband to think about what we

998
00:49:49,680 --> 00:49:54,200
Speaker 4: wanted and why we wanted it. We had a good

999
00:49:54,239 --> 00:49:57,000
Speaker 4: awareness of our budget, so we knew that any length

1000
00:49:57,040 --> 00:49:59,480
Speaker 4: of time that one or both of us were out

1001
00:49:59,480 --> 00:50:02,880
Speaker 4: of the work what that would cost, and we essentially

1002
00:50:02,920 --> 00:50:09,080
Speaker 4: had to have the cash available to be afloat, you know,

1003
00:50:09,360 --> 00:50:13,319
Speaker 4: cash flow us through that period of time. I was

1004
00:50:13,600 --> 00:50:16,439
Speaker 4: eligible for the government paid parental leave, so we could

1005
00:50:16,480 --> 00:50:19,120
Speaker 4: sort of back solve a little bit of like, Okay,

1006
00:50:19,600 --> 00:50:21,719
Speaker 4: we know that six months is going to cost us this,

1007
00:50:21,840 --> 00:50:23,640
Speaker 4: but we're going to get X from that?

1008
00:50:24,080 --> 00:50:24,839
Speaker 1: What does that mean?

1009
00:50:25,160 --> 00:50:28,440
Speaker 4: Funnily enough, I actually had returned to work before Centralink

1010
00:50:28,480 --> 00:50:31,279
Speaker 4: process my payment, so it was well, it was a

1011
00:50:31,320 --> 00:50:35,319
Speaker 4: good lesson to say, like you, you can't rely on that.

1012
00:50:35,360 --> 00:50:37,760
Speaker 4: Like you, also, you need your family money, You need

1013
00:50:37,800 --> 00:50:39,400
Speaker 4: your money to get you through that period time. You

1014
00:50:39,440 --> 00:50:42,759
Speaker 4: also need a buffer because things happened, so we had

1015
00:50:42,760 --> 00:50:46,040
Speaker 4: to deplete our buffer whilst waiting. It was like a

1016
00:50:46,040 --> 00:50:48,279
Speaker 4: return to work bonus for me once I once I

1017
00:50:48,320 --> 00:50:50,520
Speaker 4: actually got paid it in a nice How long was

1018
00:50:50,600 --> 00:50:54,200
Speaker 4: that before it actually processed? So I went back to work.

1019
00:50:55,400 --> 00:50:58,680
Speaker 4: Jeffy was four and a half months, so it was

1020
00:50:58,719 --> 00:51:02,200
Speaker 4: like within a week or two of that. Knowing your numbers,

1021
00:51:02,239 --> 00:51:05,239
Speaker 4: knowing the cash flow implications, knowing what you're entitled to,

1022
00:51:05,800 --> 00:51:09,040
Speaker 4: knowing what your partner is entitled to is really important

1023
00:51:09,080 --> 00:51:11,560
Speaker 4: as well, so that you can actually do the numbers

1024
00:51:11,600 --> 00:51:14,520
Speaker 4: and go, Okay, this is what we need, this is

1025
00:51:14,520 --> 00:51:16,760
Speaker 4: what we need for our startup capital to have the baby,

1026
00:51:16,760 --> 00:51:19,480
Speaker 4: this is what we need to get through the period

1027
00:51:19,680 --> 00:51:24,520
Speaker 4: of parental leave. And then sticking to it. Oh my goodness,

1028
00:51:24,520 --> 00:51:27,600
Speaker 4: what a revolutionary concept. No, don't don't stick to budgets

1029
00:51:27,600 --> 00:51:30,960
Speaker 4: that would be so silly, but making sure you flow

1030
00:51:31,120 --> 00:51:36,040
Speaker 4: on from that so that again I would describe it.

1031
00:51:36,120 --> 00:51:37,720
Speaker 1: You know, when you're traveling.

1032
00:51:37,960 --> 00:51:39,920
Speaker 4: And you've already spent a fair bit of money and

1033
00:51:40,000 --> 00:51:42,120
Speaker 4: you're like, but I'm never going to be in Spain again.

1034
00:51:42,200 --> 00:51:45,280
Speaker 4: Of course I'll go get that helicopter ride. There's all

1035
00:51:45,360 --> 00:51:49,480
Speaker 4: of that feeling when you've pregnant, when you've got a newborn,

1036
00:51:49,880 --> 00:51:52,200
Speaker 4: when you're stressed, when you're emotional, when you're in love,

1037
00:51:52,280 --> 00:51:55,600
Speaker 4: like it's a roller coaster, and so if you're not

1038
00:51:55,719 --> 00:51:59,000
Speaker 4: in tune with your money, it's very very easy. And

1039
00:51:59,160 --> 00:52:01,120
Speaker 4: I would hate to think that there are people who

1040
00:52:01,200 --> 00:52:04,320
Speaker 4: are now having to return to work a month earlier

1041
00:52:04,320 --> 00:52:06,279
Speaker 4: than they would like to, or that they're ready to

1042
00:52:06,440 --> 00:52:07,960
Speaker 4: because they can't afford not to.

1043
00:52:08,360 --> 00:52:10,359
Speaker 3: Yeah, And I think that that's the place that we

1044
00:52:10,400 --> 00:52:12,920
Speaker 3: want to put our listeners in, and that's just to

1045
00:52:13,040 --> 00:52:15,919
Speaker 3: empower them with choice and knowing what they can reach

1046
00:52:15,960 --> 00:52:18,680
Speaker 3: out to and how they can make that happen. Something

1047
00:52:18,719 --> 00:52:20,719
Speaker 3: that I found really powerful and a lot of my

1048
00:52:20,840 --> 00:52:23,719
Speaker 3: clients do and I'm sure yours do too, is they

1049
00:52:23,800 --> 00:52:26,800
Speaker 3: bank up their annual leave. So if you're a partner,

1050
00:52:27,239 --> 00:52:31,399
Speaker 3: I know that paternity leave is often not nearly as luxurious.

1051
00:52:31,560 --> 00:52:33,840
Speaker 3: I think that's the wrong word, but we're going with

1052
00:52:33,880 --> 00:52:36,640
Speaker 3: it as maternity leave. So I've got a couple of

1053
00:52:36,680 --> 00:52:40,200
Speaker 3: clients who are essentially banking up there either long service

1054
00:52:40,280 --> 00:52:44,080
Speaker 3: leave or their annual leave over a period of time

1055
00:52:44,120 --> 00:52:46,320
Speaker 3: so that they can use that when a baby arrives.

1056
00:52:46,440 --> 00:52:48,200
Speaker 3: Is that something that your clients are doing. Is that

1057
00:52:48,280 --> 00:52:52,040
Speaker 3: something you did? How would you recommend dad's move forward

1058
00:52:52,040 --> 00:52:53,120
Speaker 3: to be more hands on?

1059
00:52:53,440 --> 00:52:53,640
Speaker 1: Yeah?

1060
00:52:53,680 --> 00:52:57,200
Speaker 4: Absolutely, And this is why I understand your entitlements. Whether

1061
00:52:58,600 --> 00:53:02,359
Speaker 4: it's actually the government paid parental leave for oh, it's

1062
00:53:02,400 --> 00:53:05,000
Speaker 4: the most god awful name. It's like dad and partner

1063
00:53:05,080 --> 00:53:08,200
Speaker 4: pay get in the bin. It's pretty gross, and it's

1064
00:53:08,200 --> 00:53:10,839
Speaker 4: two weeks right compared to the ateen's also getting the bin.

1065
00:53:11,320 --> 00:53:16,400
Speaker 4: So really really reinforces some of those political time So

1066
00:53:16,600 --> 00:53:20,640
Speaker 4: nice exactly, So understanding what you're entitled to, what you

1067
00:53:20,719 --> 00:53:23,360
Speaker 4: may have access to, but also finding a way to

1068
00:53:24,280 --> 00:53:27,880
Speaker 4: sort of flex your muscles within those environments. So, for instance,

1069
00:53:28,560 --> 00:53:31,799
Speaker 4: my husband, his employer policy was like five minutes of

1070
00:53:31,880 --> 00:53:36,360
Speaker 4: paid leave, so Jesus as a secondary care. But we

1071
00:53:36,480 --> 00:53:39,400
Speaker 4: got a letter from my obstetrician to say, Rebecca's recovering

1072
00:53:39,400 --> 00:53:43,520
Speaker 4: from an emergency cesarean miss P is actually the primary

1073
00:53:43,640 --> 00:53:46,000
Speaker 4: care during that point in time, But it's around and

1074
00:53:46,040 --> 00:53:48,479
Speaker 4: you've got to use what resources that you've got, and

1075
00:53:48,760 --> 00:53:50,759
Speaker 4: you know, again we're looking through it. We actually just

1076
00:53:50,760 --> 00:53:54,839
Speaker 4: had this conversation with HR or his HR, and it's like, oh,

1077
00:53:54,960 --> 00:53:57,080
Speaker 4: it has to be when your partner returns to work ago.

1078
00:53:57,440 --> 00:53:59,959
Speaker 4: That's actually not written in your employment policy. I read

1079
00:54:00,040 --> 00:54:00,640
Speaker 4: the policy.

1080
00:54:01,239 --> 00:54:04,919
Speaker 3: It says who's the primary error, and we're saying it's him.

1081
00:54:05,239 --> 00:54:08,960
Speaker 4: So respect our decisions exactly. My job postpartum is to

1082
00:54:08,960 --> 00:54:14,000
Speaker 4: look after myself one hundred percent. And so you know,

1083
00:54:14,080 --> 00:54:17,319
Speaker 4: it's and people might be looking at this and going, oh, semantics,

1084
00:54:17,360 --> 00:54:20,440
Speaker 4: but it's but those semantics are really important. Those semantics

1085
00:54:20,480 --> 00:54:21,160
Speaker 4: are important.

1086
00:54:21,280 --> 00:54:22,480
Speaker 1: They also set the.

1087
00:54:22,440 --> 00:54:28,359
Speaker 4: Tone for responsibilities for all kinds of interesting discussions within

1088
00:54:28,400 --> 00:54:32,279
Speaker 4: the relationship. Let alone the financial implications of getting an

1089
00:54:32,280 --> 00:54:34,840
Speaker 4: additional two weeks of paid leave or six weeks of

1090
00:54:34,920 --> 00:54:38,280
Speaker 4: paid leave, which could be the difference between you buying

1091
00:54:38,320 --> 00:54:42,000
Speaker 4: that prem or not, or you flying your mother down

1092
00:54:42,040 --> 00:54:45,799
Speaker 4: from interstates so she can help you, or whatever it

1093
00:54:45,920 --> 00:54:46,439
Speaker 4: might be.

1094
00:54:46,680 --> 00:54:50,520
Speaker 3: It actually makes me feel a little bit gross thinking

1095
00:54:50,600 --> 00:54:53,680
Speaker 3: that my partner's employer would say, well, what does your

1096
00:54:53,680 --> 00:54:57,200
Speaker 3: wife do? What's she doing while you're off? Like, I'm sorry,

1097
00:54:57,280 --> 00:54:59,640
Speaker 3: what has that got to do with anything? Why do

1098
00:54:59,680 --> 00:55:01,960
Speaker 3: they need to know my whereabouts to make a decision

1099
00:55:02,000 --> 00:55:05,080
Speaker 3: on their employment? Like you, you didn't interview me when I

1100
00:55:05,160 --> 00:55:08,600
Speaker 3: came on board. So I think it's so backwards. It

1101
00:55:08,640 --> 00:55:10,560
Speaker 3: is so backwards, and it really frustrates me. But I

1102
00:55:10,560 --> 00:55:13,200
Speaker 3: think that's where you said like they're semantics.

1103
00:55:13,320 --> 00:55:13,680
Speaker 4: No they're not.

1104
00:55:13,719 --> 00:55:16,800
Speaker 3: They're actually pretty big details because we're talking about investing

1105
00:55:16,840 --> 00:55:19,759
Speaker 3: in our families and spending time together and having that

1106
00:55:19,840 --> 00:55:23,239
Speaker 3: quality family time with as little stress as possible, and

1107
00:55:23,280 --> 00:55:25,960
Speaker 3: those things just make you stress more than necessary more

1108
00:55:26,000 --> 00:55:26,640
Speaker 3: often than not.

1109
00:55:27,320 --> 00:55:30,040
Speaker 4: Yeah, and having a good handle on this. So like,

1110
00:55:30,120 --> 00:55:33,400
Speaker 4: for instance, again I said this about a wedding a

1111
00:55:33,400 --> 00:55:36,080
Speaker 4: few years ago, having a wedding, having a baby, They

1112
00:55:36,120 --> 00:55:39,040
Speaker 4: actually don't need to be financially stressful events. They are

1113
00:55:39,040 --> 00:55:44,280
Speaker 4: incredibly stressful or emotional or they're all those they're already

1114
00:55:44,320 --> 00:55:48,879
Speaker 4: all of these things, but the financial stress is entirely preventable.

1115
00:55:49,480 --> 00:55:52,239
Speaker 4: If you get your a into g and you are

1116
00:55:52,600 --> 00:55:56,120
Speaker 4: taking a considered approach like this, it's not a given.

1117
00:55:56,160 --> 00:55:58,040
Speaker 4: You don't have to stress about money when it comes

1118
00:55:58,040 --> 00:56:00,920
Speaker 4: to having a family, not at the start, not during it,

1119
00:56:01,040 --> 00:56:05,200
Speaker 4: not afterwards, Like you can do this without worrying about money. Well,

1120
00:56:05,200 --> 00:56:08,560
Speaker 4: one thing you and I were talking about earlier that

1121
00:56:08,600 --> 00:56:10,879
Speaker 4: we haven't covered off here is is the fact that

1122
00:56:11,520 --> 00:56:15,640
Speaker 4: we don't always feel pregnant when we want. No, it's unpredictable.

1123
00:56:15,719 --> 00:56:19,320
Speaker 4: It's a really unpredictable thing. And so you know, financially,

1124
00:56:19,400 --> 00:56:21,680
Speaker 4: I say, you have to assume that you're going to

1125
00:56:21,680 --> 00:56:24,000
Speaker 4: get pregnant straight away, right like you have to have

1126
00:56:24,080 --> 00:56:28,600
Speaker 4: your ducks lined up, because there's a fine literally a

1127
00:56:28,640 --> 00:56:31,160
Speaker 4: finite period of time after you fall pregnant before the

1128
00:56:31,200 --> 00:56:35,759
Speaker 4: baby comes, and therefore you only have limited additional capacity

1129
00:56:35,760 --> 00:56:40,279
Speaker 4: to save or adjust whatever you need to. But we

1130
00:56:40,400 --> 00:56:44,600
Speaker 4: also have to marry up this entirely contradictory perspective, which

1131
00:56:44,640 --> 00:56:47,840
Speaker 4: is also that it could take a lot longer than expected,

1132
00:56:48,360 --> 00:56:51,360
Speaker 4: and that can be really challenging to hold those two

1133
00:56:51,880 --> 00:56:55,160
Speaker 4: completely conflicting viewpoints at the same time, but they're both

1134
00:56:55,320 --> 00:56:59,040
Speaker 4: really important to hold. And so, for instance, you may

1135
00:56:59,080 --> 00:57:02,720
Speaker 4: have additional time to save because it took longer than expected,

1136
00:57:02,760 --> 00:57:05,719
Speaker 4: but also because it took longer than expected, you might

1137
00:57:05,760 --> 00:57:10,040
Speaker 4: have additional costs associated with that. You've got more time

1138
00:57:10,080 --> 00:57:12,319
Speaker 4: to think about things, You've got more time to think

1139
00:57:12,320 --> 00:57:15,600
Speaker 4: about what you want or what you need. So that's

1140
00:57:15,640 --> 00:57:18,560
Speaker 4: a really interesting dynamic to throw into the mix as well,

1141
00:57:18,600 --> 00:57:21,560
Speaker 4: and particularly for people like us who would love.

1142
00:57:21,440 --> 00:57:26,080
Speaker 3: To plank if things aren't in line and in line

1143
00:57:26,120 --> 00:57:29,240
Speaker 3: with my plan. And this is not a process that

1144
00:57:29,240 --> 00:57:31,920
Speaker 3: I'm looking forward to going through. Yes, I'm looking forward

1145
00:57:31,920 --> 00:57:34,240
Speaker 3: to having a baby at some point in my future,

1146
00:57:34,480 --> 00:57:37,400
Speaker 3: but I am not looking forward to the animosity that surrounds.

1147
00:57:37,480 --> 00:57:39,000
Speaker 4: Am I pregnant? Am I not pregnant?

1148
00:57:39,160 --> 00:57:41,320
Speaker 3: Like I've got girlfriends going through this at the moment,

1149
00:57:41,680 --> 00:57:43,720
Speaker 3: and I've got one girlfriend who's been trying for more

1150
00:57:43,760 --> 00:57:45,600
Speaker 3: than twelve months, and I just look at it and go,

1151
00:57:45,680 --> 00:57:47,400
Speaker 3: oh my gosh, I'd be losing my mind.

1152
00:57:47,840 --> 00:57:50,480
Speaker 4: Like I just like knowing what a sure thing is,

1153
00:57:50,840 --> 00:57:53,680
Speaker 4: but that if it works, if it takes longer than

1154
00:57:53,720 --> 00:57:56,320
Speaker 4: you expected, maybe you now need to invest more money

1155
00:57:56,360 --> 00:58:02,280
Speaker 4: into mental health support because that's stressful. It's really stressful.

1156
00:58:02,720 --> 00:58:07,440
Speaker 4: There's so many trade offs and other considerations going through

1157
00:58:07,480 --> 00:58:08,320
Speaker 4: this exactly.

1158
00:58:08,520 --> 00:58:10,720
Speaker 3: And if you have to go down the route of

1159
00:58:10,760 --> 00:58:14,520
Speaker 3: fertility specialists in IVF and that all adds up, and

1160
00:58:14,560 --> 00:58:16,640
Speaker 3: then it's a decision that a lot of people don't

1161
00:58:16,680 --> 00:58:17,680
Speaker 3: realize they're going.

1162
00:58:17,480 --> 00:58:19,040
Speaker 4: To have to make. I mean, what are some of

1163
00:58:19,040 --> 00:58:22,000
Speaker 4: the other things to consider whether you're if you are

1164
00:58:22,040 --> 00:58:24,840
Speaker 4: going down the private road. So, some private health insurers

1165
00:58:25,200 --> 00:58:27,120
Speaker 4: will want you to serve a twelve month waiting period

1166
00:58:27,400 --> 00:58:30,000
Speaker 4: before they will pay the benefits. For some insurers, it's

1167
00:58:30,040 --> 00:58:34,480
Speaker 4: twelve months from the date your policy went into to

1168
00:58:34,560 --> 00:58:37,280
Speaker 4: play to when you're fall pregnant. Others it's twelve months

1169
00:58:37,360 --> 00:58:39,520
Speaker 4: from when your policy went into play to when you

1170
00:58:39,560 --> 00:58:43,240
Speaker 4: have the baby. So understanding that and private health insurance,

1171
00:58:43,440 --> 00:58:47,560
Speaker 4: let's be frank not cheap. And so if you know

1172
00:58:47,640 --> 00:58:50,680
Speaker 4: that distinction, you potentially could be starting to try and

1173
00:58:50,720 --> 00:58:54,040
Speaker 4: full pregnant four months after you've upgraded your cover rather

1174
00:58:54,120 --> 00:58:55,920
Speaker 4: than waiting a full twelve month, and.

1175
00:58:55,880 --> 00:58:57,920
Speaker 3: They could shoot yourself in the foot because it's more

1176
00:58:57,960 --> 00:58:59,800
Speaker 3: expensive you've been paying for it to then find out

1177
00:58:59,840 --> 00:59:01,120
Speaker 3: you can't even utilize it.

1178
00:59:01,280 --> 00:59:03,600
Speaker 4: Or the inverse that you've been paying for it for

1179
00:59:03,680 --> 00:59:06,240
Speaker 4: an extra couple like eight months that you didn't need

1180
00:59:06,320 --> 00:59:08,600
Speaker 4: and there's a couple of thousand dollars that you've thrown

1181
00:59:08,640 --> 00:59:11,440
Speaker 4: out the window just for just for the fun of it,

1182
00:59:11,520 --> 00:59:14,640
Speaker 4: and so making sure you understand some of those distinctions

1183
00:59:14,640 --> 00:59:15,840
Speaker 4: can be very very.

1184
00:59:15,720 --> 00:59:18,480
Speaker 3: Useful about I'm going to start wrapping this chat up

1185
00:59:18,480 --> 00:59:20,440
Speaker 3: because we've been talking to you for ages and we

1186
00:59:20,440 --> 00:59:22,360
Speaker 3: don't want to take out too much of your time.

1187
00:59:22,720 --> 00:59:26,080
Speaker 3: But one last question is, how would you recommend our

1188
00:59:26,120 --> 00:59:29,760
Speaker 3: listeners who might be expecting, or are planning or are

1189
00:59:29,800 --> 00:59:32,640
Speaker 3: hoping to start a family in the near future prepare

1190
00:59:32,680 --> 00:59:35,520
Speaker 3: financially for their baby, Like, what is your one hot tip?

1191
00:59:37,160 --> 00:59:39,800
Speaker 4: Oh, one hot tip. That's a really tough one. You

1192
00:59:39,920 --> 00:59:44,240
Speaker 4: need cash. You will likely need insurance, so whether that's

1193
00:59:44,360 --> 00:59:48,520
Speaker 4: private insurance, whether that's income protection insurance protection, insurance is

1194
00:59:48,560 --> 00:59:52,160
Speaker 4: given life insurance, Like, you need to think about both

1195
00:59:52,320 --> 00:59:55,960
Speaker 4: sides of those things. If you think this might be

1196
00:59:56,040 --> 00:59:58,280
Speaker 4: on the cards for you, you can't think about it

1197
00:59:58,320 --> 01:00:02,160
Speaker 4: too early. If you have the money and it sits

1198
01:00:02,160 --> 01:00:04,920
Speaker 4: says for a little bit and that's the worst case

1199
01:00:05,240 --> 01:00:09,840
Speaker 4: that that's great. So get thinking about it, get organized,

1200
01:00:10,000 --> 01:00:13,920
Speaker 4: get the money ready because that's a bit you can control,

1201
01:00:15,200 --> 01:00:15,880
Speaker 4: and then go have.

1202
01:00:15,880 --> 01:00:20,280
Speaker 3: Some great sex and also make some granola priorities. Right,

1203
01:00:20,560 --> 01:00:22,960
Speaker 3: I really like that. Thank you so so much for

1204
01:00:23,040 --> 01:00:25,680
Speaker 3: joining us today. I'm very grateful if you wanting to

1205
01:00:25,720 --> 01:00:28,720
Speaker 3: share all of this info with our community. I actually

1206
01:00:28,760 --> 01:00:30,640
Speaker 3: can't wait for this to be in there is because

1207
01:00:30,680 --> 01:00:33,400
Speaker 3: it is actually so much more powerful than I ever imagined.

1208
01:00:34,480 --> 01:00:37,120
Speaker 1: And also we will put that blog with the full

1209
01:00:37,120 --> 01:00:41,000
Speaker 1: breakdown of everything that Beck spent over her journey in

1210
01:00:41,120 --> 01:00:43,200
Speaker 1: the show notes today and in the Facebook group later on.

1211
01:00:43,280 --> 01:00:44,760
Speaker 3: And if she'll let me, I'll put it on our

1212
01:00:45,520 --> 01:00:47,440
Speaker 3: I'll put it on our blog, We'll put it everywhere.

1213
01:00:47,480 --> 01:00:50,040
Speaker 4: Well, we'll ask, we'll spam it. And if you give

1214
01:00:50,080 --> 01:00:52,720
Speaker 4: me about two or three months, you'll get the follow

1215
01:00:52,840 --> 01:00:55,000
Speaker 4: up blog, which is we get the follow up blog

1216
01:00:55,040 --> 01:00:59,120
Speaker 4: too about what it'll look like. The second term around

1217
01:00:59,200 --> 01:01:02,360
Speaker 4: content is Evan. Thanks so much, Beck, Thanks Amy.

1218
01:01:03,240 --> 01:01:05,240
Speaker 3: Just before we head off, we'd like to acknowledge and

1219
01:01:05,240 --> 01:01:08,880
Speaker 3: pay respect to Australia's Aboriginal and Torres Strait Islander people's,

1220
01:01:09,120 --> 01:01:12,280
Speaker 3: the traditional custodians of the lands, the waterways and the

1221
01:01:12,320 --> 01:01:15,880
Speaker 3: skies all across Australia. We thank you for sharing, for

1222
01:01:16,040 --> 01:01:18,400
Speaker 3: caring for the land which we are able to learn.

1223
01:01:18,720 --> 01:01:21,120
Speaker 3: We pay our respects to elders past and present, and

1224
01:01:21,160 --> 01:01:23,919
Speaker 3: we share our friendship and our kindness.

1225
01:01:24,000 --> 01:01:26,680
Speaker 1: And remember guys, that the advice shared on She's on

1226
01:01:26,720 --> 01:01:29,200
Speaker 1: the Money is general in nature and does not consider

1227
01:01:29,240 --> 01:01:32,800
Speaker 1: your individual circumstances. She's on the Money exists pulling for

1228
01:01:32,920 --> 01:01:35,680
Speaker 1: educational purposes and should not be relied upon to make

1229
01:01:35,720 --> 01:01:39,920
Speaker 1: an investment or a financial decision, and we promise Victoria

1230
01:01:40,000 --> 01:01:43,840
Speaker 1: Devine is an authorized representative of Australia Pacific Funds Management

1231
01:01:44,040 --> 01:01:47,040
Speaker 1: proprior to Limited ABN three four one three two four

1232
01:01:47,080 --> 01:01:50,000
Speaker 1: six three two five seven AFSL three three nine one

1233
01:01:50,120 --> 01:01:53,640
Speaker 1: five one. And a big thank you to the dream

1234
01:01:53,720 --> 01:01:56,680
Speaker 1: team of Ryan Beck and Jess for putting together today's show.

1235
01:01:57,120 --> 01:02:03,160
Speaker 3: They're Gerindos, led Jerindos, legend a Renos. Anyway, if you've

1236
01:02:03,160 --> 01:02:05,280
Speaker 3: stuck around this long, thanks for the chats.

1237
01:02:05,440 --> 01:02:06,919
Speaker 4: We will see you next week.

1238
01:02:06,960 --> 01:02:07,640
Speaker 1: Bye guys,