1 00:00:00,640 --> 00:00:04,880 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 2 00:00:04,920 --> 00:00:08,639 Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before 3 00:00:08,640 --> 00:00:11,119 Speaker 1: we get started on She's on the Money podcast, I 4 00:00:11,160 --> 00:00:14,280 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:17,639 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,240 Speaker 1: acknowledging the elders, the ancestors and the next generation coming 7 00:00:22,280 --> 00:00:26,960 Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing 8 00:00:27,040 --> 00:00:30,080 Speaker 1: and the storytelling of you to make a difference for 9 00:00:30,200 --> 00:00:32,599 Speaker 1: today and lasting impact for tomorrow. 10 00:00:33,280 --> 00:00:34,120 Speaker 2: Let's get into it. 11 00:00:34,760 --> 00:00:54,000 Speaker 3: She's on the Money, She's on the Money. 12 00:00:57,800 --> 00:01:00,920 Speaker 2: Hello, and welcome to She's on the Money, the podcast 13 00:01:01,000 --> 00:01:04,600 Speaker 2: for millennials who want financial freedom. Today is Friday, My 14 00:01:04,680 --> 00:01:07,280 Speaker 2: Loves We are back. We've been watching TikTok so that 15 00:01:07,319 --> 00:01:09,960 Speaker 2: money Don'tjiggle Jiggle song is all that is stuck in 16 00:01:10,000 --> 00:01:12,800 Speaker 2: my head and it is time to unpack our favorite 17 00:01:12,800 --> 00:01:14,840 Speaker 2: moments from the week that was, and of course to 18 00:01:14,840 --> 00:01:17,880 Speaker 2: celebrate the incredible She's on the Money community. As always, 19 00:01:17,880 --> 00:01:19,959 Speaker 2: we are going to be sharing our favorite money wins. 20 00:01:19,959 --> 00:01:21,720 Speaker 2: We're going to be discussing what's making news in the 21 00:01:21,760 --> 00:01:24,160 Speaker 2: Finance World, and we're going to be helping to answer 22 00:01:24,200 --> 00:01:26,399 Speaker 2: a very juicy money question, which this week is all 23 00:01:26,440 --> 00:01:29,280 Speaker 2: about being paid fortnightly and having to move to monthly pay, 24 00:01:29,280 --> 00:01:31,360 Speaker 2: which I think is a sticky situation a lot of 25 00:01:31,440 --> 00:01:34,240 Speaker 2: us have found ourselves in historically. But first it is 26 00:01:34,280 --> 00:01:36,360 Speaker 2: time to recap the week that was Miss Jess Grigi. 27 00:01:36,480 --> 00:01:37,679 Speaker 2: What happened on Money Diaries. 28 00:01:38,040 --> 00:01:41,080 Speaker 4: So this week's Money diarist was an international student. She 29 00:01:41,319 --> 00:01:43,680 Speaker 4: came to Australia from the Philippines and she's been here 30 00:01:43,680 --> 00:01:46,160 Speaker 4: for over five years, and whilst she was here, she 31 00:01:46,240 --> 00:01:50,200 Speaker 4: was actually diagnosed with BPD, which is borderline personality disorder. 32 00:01:50,400 --> 00:01:52,280 Speaker 2: Yes, I'm how frustrating I know. 33 00:01:52,320 --> 00:01:54,360 Speaker 4: And it was really interesting to talk to her about 34 00:01:54,400 --> 00:01:56,800 Speaker 4: the symptoms and how that manifests for her because one 35 00:01:56,800 --> 00:01:59,480 Speaker 4: of the main symptoms she was talking about was impulsivity 36 00:01:59,480 --> 00:02:01,920 Speaker 4: and how that impacts her because she would save and 37 00:02:01,960 --> 00:02:04,320 Speaker 4: save and be really smart, but then if she ada, 38 00:02:05,160 --> 00:02:08,120 Speaker 4: it'd all be gone. So super interesting to talk about 39 00:02:08,120 --> 00:02:10,760 Speaker 4: that and actually a chance for me to plug something 40 00:02:10,800 --> 00:02:12,760 Speaker 4: that we're working away on in the background, which will 41 00:02:12,760 --> 00:02:16,639 Speaker 4: be a little series on neurodiversity and how that relates 42 00:02:16,639 --> 00:02:20,359 Speaker 4: to your money, because turns out you can't actually sometimes 43 00:02:20,360 --> 00:02:22,120 Speaker 4: help the things. You can have all of the positive 44 00:02:22,120 --> 00:02:23,799 Speaker 4: habits in the world, but you can. 45 00:02:23,680 --> 00:02:25,440 Speaker 2: Have the cash flow, and then you can be like 46 00:02:25,480 --> 00:02:28,320 Speaker 2: me and have ADHD and just be really impulsive and 47 00:02:28,400 --> 00:02:30,720 Speaker 2: want to change things. And there's not a lot we 48 00:02:30,760 --> 00:02:33,200 Speaker 2: can do about that except education, right, And the more 49 00:02:33,200 --> 00:02:34,560 Speaker 2: we know, the more power we have, and the more 50 00:02:34,600 --> 00:02:36,480 Speaker 2: power we have, the more likely we are to stick 51 00:02:36,520 --> 00:02:38,280 Speaker 2: to our habits and goals that we set. Yeah, if 52 00:02:38,280 --> 00:02:40,520 Speaker 2: your brain's wired differently, sometimes it just means that you 53 00:02:40,639 --> 00:02:43,560 Speaker 2: need a different approach. And turns out, as we've said before, 54 00:02:43,680 --> 00:02:45,840 Speaker 2: the world is made for a certain type of person, 55 00:02:46,000 --> 00:02:48,160 Speaker 2: and once upon a time they'd be like, screw everybody else, 56 00:02:48,240 --> 00:02:50,160 Speaker 2: fit in or get out, and we're not about that. 57 00:02:50,240 --> 00:02:52,840 Speaker 2: We got up. That's what we did. We didn't get out, 58 00:02:52,960 --> 00:02:53,600 Speaker 2: we got out. 59 00:02:54,160 --> 00:02:55,840 Speaker 4: So yeah, that's something that you can look forward to 60 00:02:55,840 --> 00:02:58,000 Speaker 4: you hopefully in the second half of this year. Yeah, 61 00:02:58,080 --> 00:03:00,440 Speaker 4: getting in really early in that one. But time super 62 00:03:00,480 --> 00:03:01,280 Speaker 4: excited about it. 63 00:03:01,400 --> 00:03:03,200 Speaker 2: Me too, now that I know it's on our radar, 64 00:03:03,520 --> 00:03:08,640 Speaker 2: So that's nice. It's funnier if I pretend I suggest 65 00:03:08,840 --> 00:03:11,239 Speaker 2: something we've really seen on TikTok actually is with people 66 00:03:11,240 --> 00:03:13,679 Speaker 2: being more open and honest and even within our community 67 00:03:13,760 --> 00:03:17,200 Speaker 2: about their habits and their experiences. Sometimes seeing that you 68 00:03:17,320 --> 00:03:19,480 Speaker 2: have these habits is a trigger for you to realize 69 00:03:19,520 --> 00:03:22,240 Speaker 2: that you might actually have an undiagnosed condition, which I 70 00:03:22,240 --> 00:03:25,040 Speaker 2: think is super interesting and now powerful. Yeah, now that 71 00:03:25,080 --> 00:03:27,400 Speaker 2: we're talking about it more openly, I think that is 72 00:03:27,480 --> 00:03:30,960 Speaker 2: such a fantastic outcome because as women were statistically more 73 00:03:31,000 --> 00:03:33,720 Speaker 2: likely to go undiagnosed with things. Yeah, because it's also 74 00:03:33,800 --> 00:03:36,320 Speaker 2: a man's world, So when it comes to medicine and 75 00:03:36,360 --> 00:03:39,520 Speaker 2: the way things are portrayed, it's always how it's portrayed 76 00:03:39,520 --> 00:03:42,400 Speaker 2: in a man, which is why so many things go wrong. 77 00:03:42,640 --> 00:03:44,400 Speaker 4: So yeah, a big thank you to our diarist for 78 00:03:44,440 --> 00:03:47,280 Speaker 4: being so candid with us about her experience, because that's 79 00:03:47,280 --> 00:03:49,839 Speaker 4: something that we're really hoping to chat more about later 80 00:03:49,880 --> 00:03:52,000 Speaker 4: this year. And she was really really I think a 81 00:03:52,040 --> 00:03:53,160 Speaker 4: powerful episode. 82 00:03:53,280 --> 00:03:55,920 Speaker 2: Yeah, I love that, Ji King. What happened on Wednesday? 83 00:03:56,280 --> 00:04:00,440 Speaker 5: So this week was another tax episode, ladies, but it 84 00:04:00,520 --> 00:04:02,120 Speaker 5: was really really interesting. 85 00:04:02,200 --> 00:04:04,800 Speaker 2: Did you like that? Did I sell it? You're not 86 00:04:04,840 --> 00:04:07,560 Speaker 2: selling me? Oh gosh? Okay, So just told me before 87 00:04:07,640 --> 00:04:09,640 Speaker 2: off air that I had to be more excited about 88 00:04:09,640 --> 00:04:13,160 Speaker 2: the tax episodes and I have absolutely no intention of 89 00:04:13,200 --> 00:04:17,240 Speaker 2: pretending I'm excited about them. Listen to the episodes I am. 90 00:04:17,400 --> 00:04:20,359 Speaker 2: I would argue very engaging, I'm very nice, lady. I 91 00:04:20,400 --> 00:04:23,000 Speaker 2: did some very good content. I did some very good research. 92 00:04:23,080 --> 00:04:25,680 Speaker 2: You are high energy when you say how are the 93 00:04:25,720 --> 00:04:28,160 Speaker 2: tax episodes? Like, I kind of just like low key 94 00:04:28,240 --> 00:04:30,840 Speaker 2: laugh because like, who says that? Who says how are 95 00:04:30,839 --> 00:04:31,880 Speaker 2: the tax episodes? 96 00:04:31,960 --> 00:04:33,680 Speaker 4: There are a lot of people who have been asking 97 00:04:33,680 --> 00:04:34,440 Speaker 4: for text content. 98 00:04:34,480 --> 00:04:36,200 Speaker 2: Are they going to be excited? We have been given 99 00:04:36,240 --> 00:04:38,719 Speaker 2: the people what they want. The community wants it. I 100 00:04:38,800 --> 00:04:41,520 Speaker 2: want it, as you guys know, I love paying tax 101 00:04:41,560 --> 00:04:44,359 Speaker 2: because I genuinely think it's a massive privilege and I 102 00:04:44,360 --> 00:04:46,680 Speaker 2: want to talk about that more. But yeah, what happened 103 00:04:46,680 --> 00:04:47,599 Speaker 2: on this week's. 104 00:04:47,440 --> 00:04:51,000 Speaker 5: Taxip So this episode was all about whether or not 105 00:04:51,040 --> 00:04:54,200 Speaker 5: your side hustle is tax compliant, which is super helpful 106 00:04:54,200 --> 00:04:56,800 Speaker 5: because obviously in our community, so many of us are 107 00:04:56,800 --> 00:04:57,480 Speaker 5: side hustlers. 108 00:04:57,680 --> 00:05:02,560 Speaker 2: I'm a side hustler, just as a side hustler ust Oh, 109 00:05:02,560 --> 00:05:05,440 Speaker 2: I thought you're so husty, But that's okay, sad. But 110 00:05:05,520 --> 00:05:07,200 Speaker 2: this week we actually got to hear from one of 111 00:05:07,200 --> 00:05:09,800 Speaker 2: my good friends, Tiffany, who spoke about the pickle she 112 00:05:09,920 --> 00:05:12,800 Speaker 2: found herself in when she actually was side hustling and 113 00:05:12,839 --> 00:05:15,560 Speaker 2: got some bad tax advice. So it's really important to 114 00:05:15,760 --> 00:05:17,560 Speaker 2: trust your gut is what I got out of that. 115 00:05:17,760 --> 00:05:19,840 Speaker 2: Trust your gut, always ask for a second opinion if 116 00:05:19,839 --> 00:05:22,920 Speaker 2: you need one, and just remember that you are actually 117 00:05:22,920 --> 00:05:25,640 Speaker 2: more powerful than you know, Like you have the ability 118 00:05:25,680 --> 00:05:27,800 Speaker 2: to research this and look it up yourself and find 119 00:05:27,800 --> 00:05:30,640 Speaker 2: out a lot of answers that arguably, if Tiff had 120 00:05:30,680 --> 00:05:32,880 Speaker 2: done that, she might have found herself in a better position, 121 00:05:32,960 --> 00:05:35,000 Speaker 2: but she just trusted the person who was giving her 122 00:05:35,080 --> 00:05:36,960 Speaker 2: the advice. So I think it was good. I am 123 00:05:37,040 --> 00:05:38,919 Speaker 2: very grateful to Tiff. Tiff love you, thank you for 124 00:05:38,960 --> 00:05:40,479 Speaker 2: sharing that with us, because I feel like I just 125 00:05:40,520 --> 00:05:44,640 Speaker 2: added another dimension to the podcast that really contextualized the 126 00:05:44,680 --> 00:05:47,440 Speaker 2: topics that we're talking about. Because obviously I can say 127 00:05:47,440 --> 00:05:49,680 Speaker 2: a million times over, like Jess, this is so important, 128 00:05:49,720 --> 00:05:53,080 Speaker 2: and you go, they're cool, like to who to who? Though, 129 00:05:53,560 --> 00:05:56,080 Speaker 2: and this one really put that in perspective for you guys. 130 00:05:56,160 --> 00:05:59,000 Speaker 2: So I was really grateful for that. But let's get 131 00:05:59,000 --> 00:06:01,120 Speaker 2: into it. I'd love to hear George King, what are 132 00:06:01,120 --> 00:06:03,559 Speaker 2: your budget direct money wins? This week of the Shout 133 00:06:03,560 --> 00:06:05,880 Speaker 2: Out it's going to be I've think a hungry. 134 00:06:05,880 --> 00:06:08,520 Speaker 5: Yeah once again. Okay, So the first one here comes 135 00:06:08,520 --> 00:06:13,040 Speaker 5: from Julia. I returned one hundred and thirty three bottles 136 00:06:13,120 --> 00:06:17,520 Speaker 5: at ten cents each last week for thirteen dollars thirty 137 00:06:17,360 --> 00:06:18,200 Speaker 5: I money. 138 00:06:17,920 --> 00:06:20,640 Speaker 4: Win, really want bottle rest. I know that it's they've said, 139 00:06:20,680 --> 00:06:23,840 Speaker 4: be so good at it. I would be that person 140 00:06:23,960 --> 00:06:27,080 Speaker 4: like combing bins, going a like part like it's so 141 00:06:27,120 --> 00:06:28,400 Speaker 4: smart because it's so good for the. 142 00:06:28,320 --> 00:06:30,800 Speaker 2: Pinet and you make money. See what states do it? 143 00:06:30,839 --> 00:06:33,880 Speaker 2: Just South Australia, No, New South Wales was as well. 144 00:06:34,200 --> 00:06:36,320 Speaker 2: I'm I don't know. I just know that we don't 145 00:06:36,320 --> 00:06:37,360 Speaker 2: do it because that's what I care about. 146 00:06:37,440 --> 00:06:40,039 Speaker 5: Come on, Dan Andrews, let's get it together, son son, 147 00:06:40,160 --> 00:06:43,120 Speaker 5: So I actually loved it, actually, so sorry. Let's move 148 00:06:43,160 --> 00:06:45,680 Speaker 5: on to Morgan money win. I started using shop back 149 00:06:45,720 --> 00:06:47,680 Speaker 5: but must have done it wrong as the purchase didn't 150 00:06:47,720 --> 00:06:50,080 Speaker 5: go through. Then I put a claim in and they've 151 00:06:50,080 --> 00:06:50,480 Speaker 5: given me this. 152 00:06:50,640 --> 00:06:53,080 Speaker 2: They give it back purchase. Yeah, they give it back. 153 00:06:53,160 --> 00:06:54,920 Speaker 2: Is that the same Morgan from last week who had 154 00:06:54,920 --> 00:06:57,960 Speaker 2: a money win? Morgan hot tell me. 155 00:06:57,880 --> 00:07:02,080 Speaker 5: If this one's different, there you'd go. She also wrote 156 00:07:02,080 --> 00:07:04,200 Speaker 5: money loss. It was my birthday, so I got heaps 157 00:07:04,200 --> 00:07:06,760 Speaker 5: of birthday vouchers and emails from lots of retailers. So 158 00:07:06,800 --> 00:07:08,919 Speaker 5: I spent a fortune. That's a little trap to be 159 00:07:08,960 --> 00:07:09,440 Speaker 5: mindful of. 160 00:07:09,560 --> 00:07:11,280 Speaker 2: I thought you had the same money. Don't you want 161 00:07:11,360 --> 00:07:13,080 Speaker 2: vouchers on your birthday? Like that's a good thing. 162 00:07:13,200 --> 00:07:17,600 Speaker 5: Well, it adds to tend true, correct, I'm learning v 163 00:07:18,120 --> 00:07:20,680 Speaker 5: The next win here comes from Emily. I needed a 164 00:07:20,720 --> 00:07:22,680 Speaker 5: new top for a birthday dinner, and I found one 165 00:07:22,720 --> 00:07:25,680 Speaker 5: in Witchery for sixty nine dollars ninety five. I didn't 166 00:07:25,720 --> 00:07:28,040 Speaker 5: have a Witchery account, though, but my mom didn't. She 167 00:07:28,200 --> 00:07:31,840 Speaker 5: was with me and she had seventy dollars. Incredible about sire, 168 00:07:31,960 --> 00:07:32,560 Speaker 5: so she let. 169 00:07:32,440 --> 00:07:35,760 Speaker 2: Me use them. Thanks three top money when Happy birthday, Emily. 170 00:07:35,960 --> 00:07:37,960 Speaker 2: That actually leans into the money when I had On 171 00:07:38,000 --> 00:07:40,400 Speaker 2: the weekend, old guys went to the bookshop to pick 172 00:07:40,480 --> 00:07:43,720 Speaker 2: up a book recently thanks Stimmix went in. They asked 173 00:07:43,760 --> 00:07:46,240 Speaker 2: me if I had an account. I didn't, turns out, 174 00:07:46,280 --> 00:07:47,920 Speaker 2: which is very strange because it turns out I've been 175 00:07:47,920 --> 00:07:49,720 Speaker 2: putting it all under Steve's and so I gave them 176 00:07:49,760 --> 00:07:52,520 Speaker 2: Steve's mobile number. Massive flex if you know your partner's 177 00:07:52,520 --> 00:07:54,920 Speaker 2: mobile number off the top of your head, right, But 178 00:07:55,480 --> 00:07:57,600 Speaker 2: they were like, oh, he has twenty dollars in credits, 179 00:07:57,680 --> 00:08:00,920 Speaker 2: got my book for free, amazing xactly like her, How 180 00:08:00,920 --> 00:08:01,360 Speaker 2: good is this? 181 00:08:01,560 --> 00:08:02,960 Speaker 5: I thought you were going to say. You pointed to 182 00:08:03,000 --> 00:08:04,560 Speaker 5: the book and were like, do you know who wrote that? 183 00:08:04,960 --> 00:08:05,360 Speaker 2: Your book? 184 00:08:05,440 --> 00:08:05,600 Speaker 5: Oh? 185 00:08:05,720 --> 00:08:07,800 Speaker 2: No, I do do that? Ask Jess. Every time we fly, 186 00:08:07,960 --> 00:08:12,080 Speaker 2: which has been arguably every single month. We have been 187 00:08:12,120 --> 00:08:13,920 Speaker 2: doing a lot of travel and going back and forth 188 00:08:13,920 --> 00:08:17,520 Speaker 2: to Sydney. I literally point at the same bookshop every 189 00:08:17,560 --> 00:08:20,240 Speaker 2: single time in Sydney Airport. I'm like, look, Jess, that's me, 190 00:08:20,320 --> 00:08:24,000 Speaker 2: and she's like, shut up, get over it, get over it. 191 00:08:24,360 --> 00:08:26,480 Speaker 2: You wait, it's going to be two by September. I'm 192 00:08:26,520 --> 00:08:29,080 Speaker 2: gonna be like, look there and there, it's gonna be wild. 193 00:08:29,840 --> 00:08:32,160 Speaker 5: The next win comes from Jennifer money Win. I sold 194 00:08:32,160 --> 00:08:35,480 Speaker 5: a washing machine on marketplace. Hubs wanted fifty dollars for it, 195 00:08:35,559 --> 00:08:37,160 Speaker 5: but I put it up for eighty dollars and the 196 00:08:37,160 --> 00:08:39,079 Speaker 5: guy who bought it paid one hundred instead. 197 00:08:39,360 --> 00:08:46,760 Speaker 2: What shit. That's not how that works. What ulterior universe 198 00:08:46,880 --> 00:08:49,600 Speaker 2: or alternate universe do you live in? Because that's not 199 00:08:49,679 --> 00:08:52,520 Speaker 2: how Facebook marketplace works. What happens is you should have 200 00:08:52,520 --> 00:08:54,200 Speaker 2: put it up for one hundred dollars and they would 201 00:08:54,200 --> 00:08:55,440 Speaker 2: have bartered you down to ten. 202 00:08:57,120 --> 00:08:58,880 Speaker 5: She was in luck all right. The next win comes 203 00:08:58,880 --> 00:09:02,120 Speaker 5: from Chloe's small money win here. I took my little 204 00:09:02,120 --> 00:09:04,240 Speaker 5: two and a half year old to the supermarket yesterday 205 00:09:04,440 --> 00:09:06,320 Speaker 5: and they have one of those cars where you put 206 00:09:06,320 --> 00:09:08,520 Speaker 5: two dollars in they move, and the kids are always 207 00:09:08,600 --> 00:09:11,480 Speaker 5: so attractive to those you know the ones I'm talking Yeah, same, Well, 208 00:09:11,679 --> 00:09:14,959 Speaker 5: someone had left this one going, so little Missy jumped 209 00:09:14,960 --> 00:09:16,680 Speaker 5: in and went for a short ride. It made her 210 00:09:16,760 --> 00:09:18,520 Speaker 5: day and I didn't have to pay for it. I 211 00:09:18,520 --> 00:09:21,240 Speaker 5: cannot tell you the number of times I've sat outside 212 00:09:21,360 --> 00:09:23,559 Speaker 5: my local cafe and there's a little thing next to it, 213 00:09:23,559 --> 00:09:25,040 Speaker 5: a little toy make bank. 214 00:09:25,360 --> 00:09:27,400 Speaker 2: Do you reckon? Hi's someone's side hustle. 215 00:09:27,480 --> 00:09:29,960 Speaker 4: Well, it's like the vending machine thing, Like just anybody 216 00:09:30,040 --> 00:09:31,920 Speaker 4: can own a vending machine and put it somewhere, which 217 00:09:31,960 --> 00:09:32,800 Speaker 4: blew my mind. 218 00:09:33,000 --> 00:09:34,880 Speaker 2: So Eric, because do you need to permit? 219 00:09:35,440 --> 00:09:38,240 Speaker 4: You'd probably, I mean it would probably very counsel a counsel. 220 00:09:38,280 --> 00:09:39,800 Speaker 4: But like most of the time, I think I've been 221 00:09:39,800 --> 00:09:42,280 Speaker 4: watching them on TikTok. People just get permissioned from like 222 00:09:42,280 --> 00:09:43,960 Speaker 4: a shop owner or a business and say hey, can 223 00:09:44,000 --> 00:09:45,640 Speaker 4: I put this here? And you get like, I pay 224 00:09:45,679 --> 00:09:46,680 Speaker 4: you a fee to like. 225 00:09:46,720 --> 00:09:50,000 Speaker 2: Yeah, and grab a little side hustle. Imagine if your 226 00:09:50,040 --> 00:09:54,079 Speaker 2: side hustle was carousels, not burn that would be really cute. 227 00:09:54,200 --> 00:09:56,680 Speaker 2: I would ride it all the time. If your side 228 00:09:56,720 --> 00:10:01,000 Speaker 2: hustle is carousel, please call me. Oh my god, money diary. Okay, okay, okay, 229 00:10:01,160 --> 00:10:03,640 Speaker 2: just outing Amy Lenardi again, who is one of our 230 00:10:03,679 --> 00:10:05,960 Speaker 2: favorite people in the She's on the Money community. She 231 00:10:06,040 --> 00:10:09,280 Speaker 2: had a carousel at her wedding. So yeah, she had 232 00:10:09,280 --> 00:10:11,880 Speaker 2: a full blown carousel, and now I want one because 233 00:10:11,920 --> 00:10:15,240 Speaker 2: it could be someone's side hustle. True, that sounds really 234 00:10:15,280 --> 00:10:18,240 Speaker 2: expensive for me. And what's your next win? 235 00:10:18,400 --> 00:10:20,960 Speaker 5: The final win of the day comes from Shay. I 236 00:10:21,000 --> 00:10:23,200 Speaker 5: got a brand new dress with tags on it for 237 00:10:23,240 --> 00:10:25,720 Speaker 5: twelve dollars fifty from the up shop and it's still 238 00:10:25,760 --> 00:10:27,400 Speaker 5: one hundred and thirty dollars online. 239 00:10:27,480 --> 00:10:31,000 Speaker 2: Oh my gosh money, little monkey face. 240 00:10:30,920 --> 00:10:32,360 Speaker 5: Monkey emoji covering its mouth. 241 00:10:32,480 --> 00:10:34,439 Speaker 2: Yeah, I love that. I love that. I love it 242 00:10:34,520 --> 00:10:37,080 Speaker 2: when you describe them to me. Yes, it was like 243 00:10:37,160 --> 00:10:39,160 Speaker 2: that time that you used to explain all of the 244 00:10:39,200 --> 00:10:41,360 Speaker 2: emojis to me. It's a long time to bring that back. 245 00:10:41,400 --> 00:10:44,160 Speaker 2: That was like season two. I was a listener then 246 00:10:44,240 --> 00:10:47,720 Speaker 2: I didn't work here were you like George just sucks? 247 00:10:47,920 --> 00:10:49,640 Speaker 2: Did you used to think George was so cool and 248 00:10:49,679 --> 00:10:52,439 Speaker 2: then you met her and you're like, oh no, you 249 00:10:52,480 --> 00:10:56,119 Speaker 2: felt about me. You exceeded my expectations. Oh, George absolutely 250 00:10:56,160 --> 00:11:01,720 Speaker 2: did dark for me. Excuse me a podcast? So you did. 251 00:11:01,800 --> 00:11:03,920 Speaker 2: You did such a good job, thanks, Matte. You did 252 00:11:03,960 --> 00:11:05,679 Speaker 2: such a good job and you only cried a couple 253 00:11:05,679 --> 00:11:06,400 Speaker 2: of times over that. 254 00:11:07,280 --> 00:11:08,160 Speaker 6: Exactly right. 255 00:11:08,280 --> 00:11:10,760 Speaker 2: Oh my gosh, Well, it has been so good celebrating 256 00:11:10,800 --> 00:11:13,000 Speaker 2: some of your budget Direct money wins for reward winning 257 00:11:13,040 --> 00:11:17,520 Speaker 2: insurance search budget Direct Budget Direct Insurance solved. Let's go 258 00:11:17,559 --> 00:11:19,200 Speaker 2: to a break, and when we get back, we are 259 00:11:19,240 --> 00:11:22,080 Speaker 2: talking about being paid monthly instead of fortnightly, and we 260 00:11:22,160 --> 00:11:24,000 Speaker 2: have some hot tips of g King's gonna put on 261 00:11:24,000 --> 00:11:30,240 Speaker 2: the table. All Right, we are back and we are 262 00:11:30,240 --> 00:11:32,800 Speaker 2: going to talk about the spiciest topic that the She's 263 00:11:32,840 --> 00:11:35,640 Speaker 2: on the Money community talks about. What is that you ask? 264 00:11:35,760 --> 00:11:38,040 Speaker 2: I can hear you. Look how excited Jesse is. It's 265 00:11:38,080 --> 00:11:41,240 Speaker 2: by now, pay later. And the question on everybody's lips 266 00:11:41,320 --> 00:11:45,080 Speaker 2: I eat mine, is why does every single bank feel 267 00:11:45,160 --> 00:11:46,920 Speaker 2: like they are coming out with a buy now, pay 268 00:11:47,000 --> 00:11:49,800 Speaker 2: later at at the moment and where are their ethics 269 00:11:49,800 --> 00:11:50,840 Speaker 2: and why are we doing this? 270 00:11:51,160 --> 00:11:53,800 Speaker 4: Yeah, we've been slammed with dms this week from people 271 00:11:53,840 --> 00:11:57,400 Speaker 4: sending us screenshots because NAB has just announced they're joining 272 00:11:57,520 --> 00:11:59,360 Speaker 4: the foray of the buy and now Paylada, why. 273 00:11:59,360 --> 00:12:00,400 Speaker 2: Are you doing miss? 274 00:12:00,920 --> 00:12:03,360 Speaker 4: Everyone wanting to know now that I suppose a more 275 00:12:03,440 --> 00:12:07,160 Speaker 4: quote unquote formal or official institution is doing buy now 276 00:12:07,160 --> 00:12:09,880 Speaker 4: pay later, because historically it's just been platforms that exists 277 00:12:09,920 --> 00:12:12,160 Speaker 4: that only offer that, so like an after pay or 278 00:12:12,160 --> 00:12:14,760 Speaker 4: a Klana or one of those other platforms where that's 279 00:12:14,840 --> 00:12:17,400 Speaker 4: just their whole wheelhouse. Whereas now you know, you could 280 00:12:17,440 --> 00:12:18,839 Speaker 4: go to a bank for a home loan, you go 281 00:12:18,880 --> 00:12:20,719 Speaker 4: to a bank for a personal loan, you go to 282 00:12:20,800 --> 00:12:22,440 Speaker 4: bank for a bank account, or you could go get 283 00:12:22,440 --> 00:12:24,040 Speaker 4: a buy and now pay later there. So some of 284 00:12:24,080 --> 00:12:25,679 Speaker 4: the questions we've been seeing thee that I want to 285 00:12:25,679 --> 00:12:28,400 Speaker 4: get your thoughts on, are is this going to impact 286 00:12:28,440 --> 00:12:30,760 Speaker 4: potentially the way that banks for you buy now pay later, 287 00:12:30,880 --> 00:12:34,040 Speaker 4: because you know, historically we've said could impact your you know, 288 00:12:34,080 --> 00:12:35,559 Speaker 4: your serviceability for your loan. 289 00:12:35,480 --> 00:12:37,319 Speaker 2: Or I don't think they care to be brutally honest. 290 00:12:37,360 --> 00:12:39,280 Speaker 2: I think what they care about, and this is me 291 00:12:39,400 --> 00:12:43,160 Speaker 2: being very glass half empty, is making money from you 292 00:12:43,200 --> 00:12:46,760 Speaker 2: as a consumer. Right Like they're a bank, they're a business. Obviously, 293 00:12:46,880 --> 00:12:49,480 Speaker 2: mortgage products are one product that they could offer you. 294 00:12:49,520 --> 00:12:51,520 Speaker 2: And if Gking walks in and says, hey, I'd love 295 00:12:51,559 --> 00:12:54,200 Speaker 2: to work with you, like, can I get a mortgage product, 296 00:12:54,280 --> 00:12:56,120 Speaker 2: They'll be like, yeah, okay, let's look at your spending 297 00:12:56,160 --> 00:12:58,960 Speaker 2: and make sure that our risk has been accounted for 298 00:12:59,280 --> 00:13:01,480 Speaker 2: so that if they lend money to you, you're going 299 00:13:01,520 --> 00:13:04,679 Speaker 2: to pay it back. But from my perspective, and this 300 00:13:04,760 --> 00:13:07,720 Speaker 2: is my again very cynical approach on this, because it 301 00:13:07,800 --> 00:13:11,480 Speaker 2: actually really frustrates me, I just I can't understand companies 302 00:13:11,520 --> 00:13:15,120 Speaker 2: not caring more. I just can't understand why they're not 303 00:13:15,160 --> 00:13:19,040 Speaker 2: putting people in better positions. But given the property market obviously, 304 00:13:19,040 --> 00:13:22,719 Speaker 2: mortgages are quite inaccessible for most people nowadays, this for 305 00:13:22,920 --> 00:13:26,360 Speaker 2: me feels a bit like they're getting the low hanging fruit. 306 00:13:26,720 --> 00:13:29,160 Speaker 2: They're like, all right, well, if we can't get GM mortgage, 307 00:13:29,200 --> 00:13:31,360 Speaker 2: how about we just find another product to make money 308 00:13:31,360 --> 00:13:33,800 Speaker 2: off her for and that happens to be by now 309 00:13:33,840 --> 00:13:36,240 Speaker 2: pay later. A lot of people have been using you know, 310 00:13:36,360 --> 00:13:38,960 Speaker 2: as you said, after paying Klana and you know all 311 00:13:38,960 --> 00:13:42,520 Speaker 2: these other options. I feel like if it's then being 312 00:13:42,559 --> 00:13:45,240 Speaker 2: issued by your bank, you can feel safer about it. 313 00:13:45,640 --> 00:13:48,280 Speaker 2: Not that that's what you should feel, but it's not 314 00:13:48,320 --> 00:13:50,280 Speaker 2: that much of a step. It's not another company, right, 315 00:13:50,280 --> 00:13:52,680 Speaker 2: like a already bank with NAB So how hard is 316 00:13:52,679 --> 00:13:55,120 Speaker 2: it to then step into buy now Pay later? Like 317 00:13:55,480 --> 00:13:57,560 Speaker 2: so easy? It's all through one app. Like to me, 318 00:13:57,640 --> 00:14:00,800 Speaker 2: it just feels a little bit like they're taking advantage 319 00:14:00,800 --> 00:14:03,079 Speaker 2: of the low hanging fruit and going, well, how else 320 00:14:03,120 --> 00:14:06,199 Speaker 2: do we make money from other demographics, which is exactly 321 00:14:06,200 --> 00:14:07,760 Speaker 2: what they're doing. They're a business, and if you look 322 00:14:07,800 --> 00:14:11,040 Speaker 2: at from a business perspective, it's probably a very smart move. 323 00:14:11,480 --> 00:14:14,760 Speaker 2: Given how big after Pay and Klana are and how 324 00:14:14,800 --> 00:14:16,840 Speaker 2: big every other buy and now pay latter platform is. 325 00:14:16,840 --> 00:14:18,600 Speaker 2: It kind of makes sense that the biggest dogs in 326 00:14:18,600 --> 00:14:21,600 Speaker 2: the game, i A. The banks, like, well we want 327 00:14:21,600 --> 00:14:24,400 Speaker 2: in on this because they're losing customers to companies like 328 00:14:24,440 --> 00:14:27,040 Speaker 2: buy now Pay Later. So it just it makes sense, 329 00:14:27,080 --> 00:14:28,760 Speaker 2: but it just makes me. It gives me the ick. 330 00:14:28,840 --> 00:14:31,200 Speaker 4: Guys, So on that ap website, there's not a whole 331 00:14:31,200 --> 00:14:34,040 Speaker 4: heap of information out yet because apparently earlier access is 332 00:14:34,040 --> 00:14:36,680 Speaker 4: coming soon. They're currently building the hype. But it does 333 00:14:36,720 --> 00:14:39,440 Speaker 4: say that there is no interest or late fees, which 334 00:14:39,480 --> 00:14:41,800 Speaker 4: makes me wonder how they actually will be making money 335 00:14:41,800 --> 00:14:44,000 Speaker 4: off of something like this, maybe with an annual feed. 336 00:14:44,160 --> 00:14:45,760 Speaker 2: Yeah, I was looking into it. It says it's going to 337 00:14:45,760 --> 00:14:48,360 Speaker 2: be launched in July twenty twenty two, which means their 338 00:14:48,400 --> 00:14:52,320 Speaker 2: PDS is not available yet, which as a findactional advisor, guys, 339 00:14:52,680 --> 00:14:54,360 Speaker 2: I really need to read your PDS so I can't 340 00:14:54,400 --> 00:14:56,440 Speaker 2: judge you, like, I really need to know how you're 341 00:14:56,480 --> 00:15:00,000 Speaker 2: actually making money, because from my perspective, it kind of 342 00:15:00,080 --> 00:15:03,240 Speaker 2: d of makes sense that they're doing this, But how 343 00:15:03,280 --> 00:15:05,600 Speaker 2: are they making money? Like, how is this profitable if 344 00:15:05,600 --> 00:15:09,240 Speaker 2: there's no late fees or interest charges? Like are they 345 00:15:09,360 --> 00:15:12,480 Speaker 2: actually doing this to put people in a better financial situation? 346 00:15:12,720 --> 00:15:14,920 Speaker 4: I mean, on paper, no interest, no late fees, sounds 347 00:15:14,960 --> 00:15:17,680 Speaker 4: like a step up. But without that information being available, 348 00:15:17,920 --> 00:15:20,080 Speaker 4: you would think that people couldn't launch or tease a 349 00:15:20,080 --> 00:15:23,240 Speaker 4: product or a financial product anyway without having that PDS 350 00:15:23,240 --> 00:15:25,760 Speaker 4: and information available. So I was a little bit surprised 351 00:15:25,760 --> 00:15:28,320 Speaker 4: about that. But we'll keep you posted once it does launch. 352 00:15:28,440 --> 00:15:30,520 Speaker 4: I'm sure we'll have lots of thoughts and opinions. The 353 00:15:30,560 --> 00:15:32,080 Speaker 4: one other thing I was going to say that I 354 00:15:32,160 --> 00:15:34,080 Speaker 4: found really interesting when I did a little bit of 355 00:15:34,160 --> 00:15:37,000 Speaker 4: research was it's got the how to get started in 356 00:15:37,040 --> 00:15:39,120 Speaker 4: four easy steps. So you need to have an AB account, 357 00:15:39,160 --> 00:15:41,160 Speaker 4: you download the app, you need to be over eighteen, 358 00:15:41,480 --> 00:15:43,000 Speaker 4: and then all you need to do is pass a 359 00:15:43,040 --> 00:15:45,040 Speaker 4: simple repayment assessment when you. 360 00:15:44,960 --> 00:15:47,520 Speaker 2: Apply, so which I kind of like. And that leans 361 00:15:47,560 --> 00:15:49,960 Speaker 2: into the question and I guess the thing I've jumped 362 00:15:50,040 --> 00:15:52,400 Speaker 2: up and down about for a very long time, which 363 00:15:52,480 --> 00:15:55,400 Speaker 2: is calling out for better regulation on buy now, Pay Later, 364 00:15:55,600 --> 00:15:58,400 Speaker 2: and it hasn't happened yet, but you look at it 365 00:15:58,400 --> 00:16:00,560 Speaker 2: and go, maybe they are going to be a little 366 00:16:00,560 --> 00:16:03,160 Speaker 2: bit more responsible about this. There's a thousand dollars limit 367 00:16:03,200 --> 00:16:05,400 Speaker 2: on it, which is obviously a lot of money, but 368 00:16:05,640 --> 00:16:08,400 Speaker 2: having a limit is kind of good. Maybe with this 369 00:16:08,680 --> 00:16:11,880 Speaker 2: survey that you were mentioning before, there's probably better regulation. 370 00:16:12,000 --> 00:16:14,680 Speaker 2: So maybe it is in the space of buy now, 371 00:16:14,760 --> 00:16:17,400 Speaker 2: pay later to pay Debil's advocate. Maybe it's a really 372 00:16:17,480 --> 00:16:20,840 Speaker 2: positive step in a bad industry, Like maybe it's a 373 00:16:20,880 --> 00:16:24,520 Speaker 2: really positive outcome of people needing to use this, but 374 00:16:24,560 --> 00:16:26,040 Speaker 2: maybe here's a way that you can use it that 375 00:16:26,160 --> 00:16:29,160 Speaker 2: isn't as detrimental as it could be saying that, obviously, 376 00:16:29,160 --> 00:16:31,120 Speaker 2: I'm not standing behind those words until I see a 377 00:16:31,120 --> 00:16:33,240 Speaker 2: PDS and can break it all down for you, because 378 00:16:33,680 --> 00:16:35,640 Speaker 2: I don't know why they would do that if they're 379 00:16:35,640 --> 00:16:38,240 Speaker 2: not making money from it, So how are they clipping 380 00:16:38,320 --> 00:16:40,720 Speaker 2: the ticket along the way? And that's the question that 381 00:16:40,760 --> 00:16:43,680 Speaker 2: should be on everybody's lips whenever you look at any 382 00:16:43,680 --> 00:16:45,760 Speaker 2: type of product that jumps up and down about it 383 00:16:45,800 --> 00:16:48,960 Speaker 2: being free, like how you're making money then, because if 384 00:16:48,960 --> 00:16:51,720 Speaker 2: they're not making money by charging you as the customer, 385 00:16:51,760 --> 00:16:54,200 Speaker 2: are they making money by selling data? Are they making 386 00:16:54,240 --> 00:16:56,720 Speaker 2: money by doing something else, in which case you deserve 387 00:16:56,760 --> 00:16:59,800 Speaker 2: to know how you are being profited off. I think 388 00:16:59,840 --> 00:17:02,600 Speaker 2: it's a good question. Feel free to slide into my 389 00:17:02,720 --> 00:17:05,080 Speaker 2: DMS nabin and hit me up and let me know. 390 00:17:05,440 --> 00:17:08,200 Speaker 5: Having said that, V and j Rick, do we think 391 00:17:08,240 --> 00:17:10,399 Speaker 5: that maybe it's just the big boys? You said the 392 00:17:10,400 --> 00:17:12,680 Speaker 5: other banks are doing it as well, kind of reasserting 393 00:17:12,680 --> 00:17:14,960 Speaker 5: their authority would be in that space. 394 00:17:14,960 --> 00:17:17,520 Speaker 4: It bank for sure, Like all of a sudden, have 395 00:17:17,640 --> 00:17:20,399 Speaker 4: any we've seen pop up from banking institutions in the 396 00:17:20,480 --> 00:17:22,439 Speaker 4: last let's call it four to eight weeks. 397 00:17:22,440 --> 00:17:24,680 Speaker 2: What's three. It's actually insane. There's been three or four 398 00:17:24,720 --> 00:17:27,320 Speaker 2: of them come up. You're right, And the interesting thing 399 00:17:27,320 --> 00:17:30,119 Speaker 2: you've said before about target market that's actually a part 400 00:17:30,200 --> 00:17:33,159 Speaker 2: of their compliance regulation nowadays. So they have to do 401 00:17:33,200 --> 00:17:36,119 Speaker 2: what's called a target market determination form. So you know 402 00:17:36,119 --> 00:17:38,320 Speaker 2: how I always say, have a look on the website, 403 00:17:38,440 --> 00:17:40,520 Speaker 2: read the pds, make sure you know what the product 404 00:17:40,520 --> 00:17:43,359 Speaker 2: disclosure statement says. So we need to do that as well. 405 00:17:43,640 --> 00:17:46,800 Speaker 2: But with banking and finance products, they will also release 406 00:17:46,800 --> 00:17:49,800 Speaker 2: something called a TMD, and a TMD is a document 407 00:17:49,840 --> 00:17:52,480 Speaker 2: that tells you who they're trying to attract. Because there's 408 00:17:52,520 --> 00:17:56,200 Speaker 2: been so much backlash recently about or even just since 409 00:17:56,240 --> 00:17:59,639 Speaker 2: the Royal Commission of people targeting the wrong people. I 410 00:17:59,880 --> 00:18:02,440 Speaker 2: ate after pay trying to you know, if you can't 411 00:18:02,480 --> 00:18:04,880 Speaker 2: afford it and you're broke, cues aughter pay like vibes, 412 00:18:05,200 --> 00:18:09,000 Speaker 2: and it's just so unethical. Whether they actually stick to 413 00:18:09,080 --> 00:18:11,840 Speaker 2: that with their marketing or not is a different story, 414 00:18:12,200 --> 00:18:14,080 Speaker 2: NAB to be honest, and the bigger banks have been 415 00:18:14,160 --> 00:18:16,440 Speaker 2: very good at this, So this is not me being 416 00:18:16,480 --> 00:18:18,320 Speaker 2: cynical of them and being like, oh my god, they 417 00:18:18,320 --> 00:18:20,520 Speaker 2: don't stick to their target market determination but I do 418 00:18:20,560 --> 00:18:22,960 Speaker 2: think it's interesting that that exists and you can actually 419 00:18:23,000 --> 00:18:24,159 Speaker 2: have a look at it, Like if you go to 420 00:18:24,160 --> 00:18:26,960 Speaker 2: the NAB website, there's a pdf you can download that 421 00:18:27,040 --> 00:18:30,359 Speaker 2: tells you who their target market is for NAB personal loans, 422 00:18:30,440 --> 00:18:34,680 Speaker 2: and it's interesting because it says consumer needs and objectives. 423 00:18:34,880 --> 00:18:38,160 Speaker 2: They actually have what their perfect client has in terms 424 00:18:38,200 --> 00:18:41,600 Speaker 2: of financial situation. So it says, here, for someone who 425 00:18:41,640 --> 00:18:44,159 Speaker 2: wants a personal loan from NAB, it's a person that 426 00:18:44,200 --> 00:18:46,960 Speaker 2: requires a minimum credit amount of five thousand dollars up 427 00:18:47,000 --> 00:18:50,520 Speaker 2: to fifty five thousand dollars, has access to sufficient income 428 00:18:50,560 --> 00:18:54,040 Speaker 2: to satisfy NABS credit assessment requirements and to meet the 429 00:18:54,080 --> 00:18:57,320 Speaker 2: following payments, so the principal amount due, the interest amount due, 430 00:18:57,400 --> 00:19:00,400 Speaker 2: the application fee, and the monthly fee. I think it's 431 00:19:00,440 --> 00:19:03,560 Speaker 2: really interesting because it's probably one of the first times 432 00:19:03,640 --> 00:19:05,800 Speaker 2: that you guys are probably going, well, that's me or 433 00:19:05,840 --> 00:19:08,880 Speaker 2: it's not me. But it's also interesting to see other 434 00:19:08,960 --> 00:19:13,000 Speaker 2: players in the market that aren't the banks doing these TMDs, 435 00:19:13,560 --> 00:19:16,320 Speaker 2: and then I would say going a bit rogue on 436 00:19:16,400 --> 00:19:19,199 Speaker 2: what their actual marketing strategy is because if you look 437 00:19:19,240 --> 00:19:22,320 Speaker 2: at their tmd they're saying people with consistent incomes, who 438 00:19:22,359 --> 00:19:23,960 Speaker 2: can pay back this, who can do that? And then 439 00:19:24,119 --> 00:19:25,440 Speaker 2: the marketing just feels like. 440 00:19:25,600 --> 00:19:29,119 Speaker 4: Maybe that's not right kind of which is the exact 441 00:19:29,119 --> 00:19:29,800 Speaker 4: opposite of what. 442 00:19:29,760 --> 00:19:32,320 Speaker 2: You just say, especially and to talk about it again. 443 00:19:32,400 --> 00:19:34,399 Speaker 2: And I know we've mentioned it on the podcast before, 444 00:19:34,400 --> 00:19:37,320 Speaker 2: but during the Royal Commission, after paper was actually asked 445 00:19:37,359 --> 00:19:40,479 Speaker 2: to stop targeting young millennial women. But I don't believe 446 00:19:40,520 --> 00:19:43,600 Speaker 2: that that has actually happened. I would just say they 447 00:19:43,680 --> 00:19:46,240 Speaker 2: changed their TMD to say no, we're not doing that, 448 00:19:46,440 --> 00:19:48,800 Speaker 2: But then like, look at the marketing, who doesn't most 449 00:19:49,200 --> 00:19:52,240 Speaker 2: like resonate with I would feel we're still in the 450 00:19:52,280 --> 00:19:55,919 Speaker 2: firing line, my friends, regardless of what their TMD says. 451 00:19:56,119 --> 00:19:58,080 Speaker 4: Going back to what you're saying before about kind of 452 00:19:58,119 --> 00:20:00,320 Speaker 4: waiting to see whether this kind of you know, is 453 00:20:00,320 --> 00:20:02,600 Speaker 4: a good step in the right direction in terms of 454 00:20:03,000 --> 00:20:05,640 Speaker 4: seeing perhaps an example of how buy now, pay later 455 00:20:05,680 --> 00:20:08,640 Speaker 4: could be done better or more correctly. Do you think 456 00:20:08,680 --> 00:20:10,840 Speaker 4: that now that the big banks are doing it, we 457 00:20:10,920 --> 00:20:14,640 Speaker 4: might actually see it become regulated because something we hope, 458 00:20:15,000 --> 00:20:17,919 Speaker 4: I would pray, something that we've kind of kicked up 459 00:20:17,920 --> 00:20:19,840 Speaker 4: a fuss about in the past is the fact that 460 00:20:19,880 --> 00:20:22,600 Speaker 4: buying our pay later is not regulated, it's not considered 461 00:20:22,600 --> 00:20:24,040 Speaker 4: a financial services product. 462 00:20:24,200 --> 00:20:25,400 Speaker 2: Yeah, it's insane, but if. 463 00:20:25,280 --> 00:20:27,879 Speaker 4: A bank is offering it, I would argue that absolutely 464 00:20:27,920 --> 00:20:29,320 Speaker 4: it's a financial services product. 465 00:20:29,400 --> 00:20:31,840 Speaker 2: Right. Look, I would love to think and this is where, 466 00:20:31,880 --> 00:20:34,400 Speaker 2: like I want to see people walk the walk, not 467 00:20:34,520 --> 00:20:36,600 Speaker 2: just talk the talk. I'd love to see what actually 468 00:20:36,640 --> 00:20:39,919 Speaker 2: happens here and the way they actually implement it. Because 469 00:20:40,160 --> 00:20:42,879 Speaker 2: banks have a lot to lose if they do this wrong, 470 00:20:42,960 --> 00:20:44,639 Speaker 2: but a lot to gain if they do it the 471 00:20:44,720 --> 00:20:47,520 Speaker 2: right way. So I would think that it's going to 472 00:20:47,560 --> 00:20:51,480 Speaker 2: be more regulated. By reading through whatever information is available 473 00:20:51,560 --> 00:20:54,800 Speaker 2: on the NAB website, it does sound arguably like a 474 00:20:55,000 --> 00:20:58,680 Speaker 2: better product offering than what's on the market. I still 475 00:20:58,800 --> 00:21:01,679 Speaker 2: don't agree with buying pay later because I'm very much 476 00:21:01,760 --> 00:21:05,080 Speaker 2: of values based human being, right, Like, I really want 477 00:21:05,119 --> 00:21:07,920 Speaker 2: the purchases you're making to be thoughtful and in line 478 00:21:07,920 --> 00:21:09,879 Speaker 2: with your values and in line with your beliefs, and 479 00:21:09,920 --> 00:21:12,000 Speaker 2: in line with everything that you're trying to achieve. And 480 00:21:12,040 --> 00:21:17,360 Speaker 2: we're working towards you know, financial freedom together. So that's 481 00:21:17,400 --> 00:21:19,560 Speaker 2: where I stand. But if there's a better way to 482 00:21:19,600 --> 00:21:21,959 Speaker 2: do it, and it's a product that works for some people, 483 00:21:22,160 --> 00:21:23,640 Speaker 2: like at the end of the day, it's a very 484 00:21:23,680 --> 00:21:26,159 Speaker 2: privileged position to sit in to say don't use buy now, 485 00:21:26,160 --> 00:21:28,720 Speaker 2: pay later. Yeah, because there are a lot of people 486 00:21:28,760 --> 00:21:30,800 Speaker 2: where this really works for them, and it does the 487 00:21:30,880 --> 00:21:33,040 Speaker 2: right thing for them and their cash flow. And as 488 00:21:33,080 --> 00:21:35,000 Speaker 2: we've seen in our community, there are actually a fair, 489 00:21:35,600 --> 00:21:38,520 Speaker 2: fairly big handful of people who are using buy now, 490 00:21:38,560 --> 00:21:43,200 Speaker 2: pay later companies quite strategically or using it to bolster 491 00:21:43,280 --> 00:21:45,560 Speaker 2: their cash flow or put them in a better position 492 00:21:45,680 --> 00:21:48,560 Speaker 2: or pay off something they were definitely going to purchase anyway, 493 00:21:48,560 --> 00:21:51,520 Speaker 2: and it doesn't financially impact them anymore. So I think 494 00:21:51,560 --> 00:21:54,280 Speaker 2: we need to see it from the place of privilege. 495 00:21:54,280 --> 00:21:56,800 Speaker 2: But I also think we have rights as a consumer, 496 00:21:57,359 --> 00:22:00,399 Speaker 2: and as I guess a community that supports it's the 497 00:22:00,480 --> 00:22:03,760 Speaker 2: consumer to demand better and to demand that we are 498 00:22:03,760 --> 00:22:07,000 Speaker 2: looked after and that you know, people aren't deceptive with 499 00:22:07,040 --> 00:22:09,680 Speaker 2: their marketing. So yeah, I think I've got a lot 500 00:22:09,720 --> 00:22:11,119 Speaker 2: to say on that, as you guys. 501 00:22:11,080 --> 00:22:14,200 Speaker 5: I've just turned my laptop around to the little marketing 502 00:22:14,240 --> 00:22:16,280 Speaker 5: banner on the NAB website you have. 503 00:22:16,480 --> 00:22:21,639 Speaker 2: It's a it's a millennial female. 504 00:22:20,160 --> 00:22:21,879 Speaker 5: Having the time of her life, and it says now 505 00:22:22,040 --> 00:22:25,040 Speaker 5: now behind it. So that's not like a family sitting 506 00:22:25,040 --> 00:22:28,440 Speaker 5: around looking at the bills is it doesn't really match marketing. 507 00:22:28,520 --> 00:22:30,680 Speaker 2: So it's like and I'm a little worried, but I 508 00:22:31,280 --> 00:22:34,080 Speaker 2: point and I feel like that's where we are very 509 00:22:34,119 --> 00:22:36,639 Speaker 2: fair in being cynical and we want to see it happen. 510 00:22:36,760 --> 00:22:40,040 Speaker 2: And I think it's important to acknowledge privilege here and say, well, actually, 511 00:22:40,119 --> 00:22:42,320 Speaker 2: I do feel quite privileged to not be in a 512 00:22:42,320 --> 00:22:44,920 Speaker 2: position where I need this, because like, imagine how great 513 00:22:44,920 --> 00:22:47,000 Speaker 2: by now paylater would be if you need to pay 514 00:22:47,000 --> 00:22:49,800 Speaker 2: for an expensive dental appointment that you couldn't have otherwise afforded, 515 00:22:49,960 --> 00:22:51,480 Speaker 2: and now you don't even need a credit card to 516 00:22:51,520 --> 00:22:53,480 Speaker 2: do that, or you don't need to negotiate a payment plan, 517 00:22:53,560 --> 00:22:55,760 Speaker 2: Like I think there are so many good examples of 518 00:22:55,840 --> 00:22:58,399 Speaker 2: where by now pay later could put you back in 519 00:22:58,440 --> 00:23:01,439 Speaker 2: the control seat, But fortunately too many of us are 520 00:23:01,520 --> 00:23:04,719 Speaker 2: driving drunk. Really we're just like, ah, this is wild. 521 00:23:04,800 --> 00:23:06,800 Speaker 2: I can buy a dress for a Friday night and 522 00:23:06,840 --> 00:23:09,359 Speaker 2: then never wear that dress again, or I can buy 523 00:23:09,400 --> 00:23:13,000 Speaker 2: things like food now on after pay, or beers out 524 00:23:13,000 --> 00:23:15,840 Speaker 2: with your mates or espresso martinis. I just think let's 525 00:23:15,920 --> 00:23:20,240 Speaker 2: be more thoughtful and responsible with our money and actually 526 00:23:20,320 --> 00:23:23,240 Speaker 2: lean into these products to support us doing that as 527 00:23:23,240 --> 00:23:26,840 Speaker 2: opposed to, you know, being really irresponsible. I'm sure with 528 00:23:26,920 --> 00:23:29,720 Speaker 2: the NAB one you can probably buy some spresso martinis 529 00:23:29,760 --> 00:23:32,520 Speaker 2: because like, why would they have less accessibility than the 530 00:23:32,560 --> 00:23:33,360 Speaker 2: other players in the. 531 00:23:33,320 --> 00:23:38,240 Speaker 4: Market available anywhere visa is accepted. Arguably could be a 532 00:23:38,240 --> 00:23:40,760 Speaker 4: positive thing though with what you were saying about, because 533 00:23:40,880 --> 00:23:42,639 Speaker 4: by our pay latter platforms, the way they work at 534 00:23:42,640 --> 00:23:45,840 Speaker 4: the moment is they have approved retailers, and those approved 535 00:23:45,840 --> 00:23:48,520 Speaker 4: retailers are often paying a hefty fee to be on 536 00:23:48,560 --> 00:23:50,919 Speaker 4: that list, which is why a lot of small businesses 537 00:23:50,960 --> 00:23:53,840 Speaker 4: can't offer it. So it could be potentially a good 538 00:23:53,840 --> 00:23:56,760 Speaker 4: thing because it opens up the world of dentists or 539 00:23:56,880 --> 00:24:00,359 Speaker 4: cairos or kind of more necessary purchase is that you 540 00:24:00,359 --> 00:24:01,560 Speaker 4: need to make and you might want to break down. 541 00:24:01,600 --> 00:24:03,640 Speaker 4: But anyway, we've spoken about for more than but that's 542 00:24:03,640 --> 00:24:03,920 Speaker 4: what it. 543 00:24:03,840 --> 00:24:06,399 Speaker 2: Would lead into, right, that's potentially how NAB's going to 544 00:24:06,440 --> 00:24:09,600 Speaker 2: make money. So they're going to lean into charging the retailer. 545 00:24:09,760 --> 00:24:12,600 Speaker 2: What does that actually look like? And the question for 546 00:24:12,640 --> 00:24:16,920 Speaker 2: me is around are we actually happy with charging our retailers? 547 00:24:16,960 --> 00:24:18,960 Speaker 2: More Like for small businesses, I don't want them to 548 00:24:18,960 --> 00:24:22,440 Speaker 2: have an extra cost wherever possible. I'm not using after pay. 549 00:24:22,800 --> 00:24:25,720 Speaker 2: So it's just it's an interesting conundrum. I think we 550 00:24:25,760 --> 00:24:28,439 Speaker 2: can continue the conversation around in the future. 551 00:24:28,600 --> 00:24:31,400 Speaker 4: Yeah, anyway, we've spoken about that for more than long enough, 552 00:24:31,560 --> 00:24:32,960 Speaker 4: because we have a money dilemma. 553 00:24:33,080 --> 00:24:34,080 Speaker 1: We do. 554 00:24:34,240 --> 00:24:38,400 Speaker 2: Let's hear it. Hi, there have you got. 555 00:24:38,240 --> 00:24:40,680 Speaker 5: Up money dilemma you just can't solve that. She's on 556 00:24:40,720 --> 00:24:43,320 Speaker 5: The Money Team is here to help. Every week we 557 00:24:43,359 --> 00:24:45,919 Speaker 5: tackle your dilemmas, both big and small, to answer your 558 00:24:45,960 --> 00:24:49,880 Speaker 5: most burning money, career and life questions. To get involved, 559 00:24:49,960 --> 00:24:51,920 Speaker 5: simply head to our website and leave us a quick 560 00:24:52,000 --> 00:24:54,960 Speaker 5: voice recording and you may just find yourself on the show. Now, 561 00:24:55,080 --> 00:24:57,120 Speaker 5: let's take a listen to today's money dilemma. 562 00:24:59,000 --> 00:25:02,879 Speaker 6: Hi, ladies. For the past ten years, I've been getting 563 00:25:02,920 --> 00:25:07,320 Speaker 6: paid on a fortnightly schedule and set up a budget 564 00:25:07,320 --> 00:25:10,200 Speaker 6: appropriate for that. But I've just got a new job, 565 00:25:10,240 --> 00:25:12,439 Speaker 6: which I'm really excited to start. But I'm going to 566 00:25:12,440 --> 00:25:16,320 Speaker 6: be getting paid on a monthly schedule instead of fortnightly, 567 00:25:16,960 --> 00:25:19,400 Speaker 6: and I'm just wondering if you can give me any 568 00:25:19,480 --> 00:25:22,240 Speaker 6: tips for how to budget properly when you've got a 569 00:25:22,280 --> 00:25:24,679 Speaker 6: budget for a month at a time rather than a 570 00:25:24,720 --> 00:25:26,920 Speaker 6: fortnight Thank you very. 571 00:25:26,880 --> 00:25:29,240 Speaker 2: Much, all right, I feel like I've got some hot 572 00:25:29,280 --> 00:25:31,359 Speaker 2: tips here, guys, I have so many hot tips. But 573 00:25:31,400 --> 00:25:33,760 Speaker 2: do you know who has hot tips? Just freaky because 574 00:25:33,760 --> 00:25:37,639 Speaker 2: she gets paid monthly as we all do. Such a 575 00:25:37,680 --> 00:25:40,120 Speaker 2: good point. I think that I actually really like it. 576 00:25:40,200 --> 00:25:42,200 Speaker 2: I've to pay it. Actually, I've been paid monthly. We 577 00:25:42,280 --> 00:25:44,600 Speaker 2: can negotiate this, we can change it if you really 578 00:25:44,600 --> 00:25:45,159 Speaker 2: need off. 579 00:25:45,440 --> 00:25:47,240 Speaker 4: No, I've been paid monthly for as long as I 580 00:25:47,240 --> 00:25:49,639 Speaker 4: can remember, because a lot of corporate pays monthly, and 581 00:25:49,760 --> 00:25:52,960 Speaker 4: I quite like it because one day a month. 582 00:25:53,320 --> 00:25:54,200 Speaker 2: You're really rich. 583 00:25:55,400 --> 00:25:57,040 Speaker 4: No, but one day a month, all of my money 584 00:25:57,040 --> 00:25:59,119 Speaker 4: comes in, and I know exactly what that looks like, 585 00:25:59,359 --> 00:26:02,880 Speaker 4: and it may really easy for me to immediately implement 586 00:26:03,000 --> 00:26:04,480 Speaker 4: the breakdown of my budget. 587 00:26:04,720 --> 00:26:08,840 Speaker 2: Yeah, it's like one day exact consistently. 588 00:26:08,320 --> 00:26:10,120 Speaker 4: And you can have all of those auto transfers set. 589 00:26:10,160 --> 00:26:12,119 Speaker 4: It's a little bit less confusing for someone like me 590 00:26:12,160 --> 00:26:14,880 Speaker 4: who's not a huge numbers person, because you know there's 591 00:26:14,920 --> 00:26:17,159 Speaker 4: not an equal amount of weeks in every month, and 592 00:26:17,200 --> 00:26:19,320 Speaker 4: so you know I'm getting paid twelve times this year. 593 00:26:19,760 --> 00:26:21,359 Speaker 2: It don't say I don't do anything for you, jes 594 00:26:21,440 --> 00:26:21,760 Speaker 2: It make my. 595 00:26:21,760 --> 00:26:24,240 Speaker 4: Life so much easier and spoiler alert, No, one's going 596 00:26:24,280 --> 00:26:25,840 Speaker 4: to be surprised here has come out of my mouth. 597 00:26:25,920 --> 00:26:27,880 Speaker 4: But the secret is budgeting. 598 00:26:29,760 --> 00:26:31,639 Speaker 2: Don't tell them this secret. We're going to have no 599 00:26:31,800 --> 00:26:34,440 Speaker 2: content left for the pod guy. I know, but yeah, 600 00:26:34,440 --> 00:26:35,400 Speaker 2: I feel like that's the answer. 601 00:26:35,480 --> 00:26:35,640 Speaker 4: Right. 602 00:26:35,680 --> 00:26:38,000 Speaker 2: It's all about automation, right, and a budget is going 603 00:26:38,080 --> 00:26:40,679 Speaker 2: to mean it's something different to each and every single person. 604 00:26:40,840 --> 00:26:42,679 Speaker 2: I think we really need to step away from a 605 00:26:42,720 --> 00:26:46,240 Speaker 2: budget having the same connotations as a diet, Like it's 606 00:26:46,359 --> 00:26:50,040 Speaker 2: not restrictive, Like a budget is actually fully comprehending how 607 00:26:50,119 --> 00:26:52,720 Speaker 2: many dollars come in and what's going out, and feeling 608 00:26:52,760 --> 00:26:55,520 Speaker 2: really empowered about that. It's not about going okay, Jess, 609 00:26:55,600 --> 00:26:57,679 Speaker 2: So on the fifteenth of every single month, you're going 610 00:26:57,720 --> 00:27:00,240 Speaker 2: to get paid, and on that day you need to 611 00:27:00,240 --> 00:27:01,840 Speaker 2: set a budget and you have to stick to it. 612 00:27:01,920 --> 00:27:04,760 Speaker 2: Like it's not about that. It's actually about understanding what's 613 00:27:04,760 --> 00:27:07,159 Speaker 2: coming into your account and going all right of that. 614 00:27:07,400 --> 00:27:09,199 Speaker 2: I spend this on coffees, and I spend this on 615 00:27:09,240 --> 00:27:11,479 Speaker 2: spresso martinis with my girlfriends, and I'm gonna go out 616 00:27:11,520 --> 00:27:13,399 Speaker 2: for a brunch with Steve on Sundays. And this is 617 00:27:13,440 --> 00:27:16,240 Speaker 2: what this is, like, it's actually taking that power back 618 00:27:16,520 --> 00:27:19,560 Speaker 2: and putting the energy back into your money so that 619 00:27:19,600 --> 00:27:22,080 Speaker 2: it's funneling in the ways you want it to. And 620 00:27:22,160 --> 00:27:25,320 Speaker 2: I'm obviously so biased low KEI gonna plug my own 621 00:27:25,359 --> 00:27:28,359 Speaker 2: budget and cash flow masterclass, but I would argue that 622 00:27:28,560 --> 00:27:31,560 Speaker 2: for someone who is paid monthly, that's a game changer, 623 00:27:32,040 --> 00:27:35,479 Speaker 2: because if you are someone who's like look, Ree, I 624 00:27:35,520 --> 00:27:38,560 Speaker 2: see what Jess is saying every single month, that feels 625 00:27:38,600 --> 00:27:41,280 Speaker 2: really big and overwhelming. It puts you back in the 626 00:27:41,320 --> 00:27:43,919 Speaker 2: control seat of only having to worry about a weekly budget. 627 00:27:44,200 --> 00:27:47,879 Speaker 2: It puts you back into this cash hub style of 628 00:27:48,080 --> 00:27:50,000 Speaker 2: functioning when it comes to a budget, where you have 629 00:27:50,040 --> 00:27:52,119 Speaker 2: a cash hub and all your money goes into this 630 00:27:52,200 --> 00:27:55,080 Speaker 2: one account and then it gets distributed out to different 631 00:27:55,119 --> 00:27:57,920 Speaker 2: accounts and then once every single week. Doesn't matter what 632 00:27:58,000 --> 00:27:59,879 Speaker 2: day it is. For me, it's Thursdays. I have a 633 00:28:00,040 --> 00:28:02,639 Speaker 2: set amount that goes from my cash hub to my 634 00:28:02,760 --> 00:28:05,359 Speaker 2: debit card, and I know that that's my food money, 635 00:28:05,400 --> 00:28:07,879 Speaker 2: my fuel money, and my fun money. So I know 636 00:28:08,040 --> 00:28:10,600 Speaker 2: that I have enough to You know, you go to Frisbee, Jess, 637 00:28:10,640 --> 00:28:12,399 Speaker 2: I have enough to pay Frisbee. I have enough to 638 00:28:12,440 --> 00:28:14,720 Speaker 2: go to the supermarket. I have enough for my brunches. 639 00:28:14,960 --> 00:28:17,919 Speaker 2: But I am working on a smaller amount of money 640 00:28:18,200 --> 00:28:22,280 Speaker 2: that doesn't take into consideration rent or bills or overarching 641 00:28:22,320 --> 00:28:25,160 Speaker 2: expenses that I need to allocate each and every single year. 642 00:28:25,240 --> 00:28:28,359 Speaker 2: Like my rego that's already done in the cash hub, 643 00:28:28,400 --> 00:28:31,320 Speaker 2: because I've already set up that functionality to work for 644 00:28:31,400 --> 00:28:33,479 Speaker 2: me so that I know when regro comes, I have 645 00:28:33,560 --> 00:28:35,800 Speaker 2: that thousand dollars sitting in that account that I can 646 00:28:35,840 --> 00:28:38,880 Speaker 2: instantly pay it with. I'm not like frittering away at 647 00:28:38,920 --> 00:28:40,720 Speaker 2: a bank account because I only have one, and I go, 648 00:28:40,760 --> 00:28:42,920 Speaker 2: oh my gosh, I blew out on this because I 649 00:28:43,000 --> 00:28:45,520 Speaker 2: completely forgot that in a month they have redo or 650 00:28:45,560 --> 00:28:48,760 Speaker 2: insurance d or there's this one overwhelming cost. So I 651 00:28:48,760 --> 00:28:51,320 Speaker 2: think it's about taking the power back, but actually having 652 00:28:51,360 --> 00:28:53,920 Speaker 2: an automated system that works for you, that's going to 653 00:28:54,000 --> 00:28:56,120 Speaker 2: make you feel really empowered and puts you back in 654 00:28:56,160 --> 00:28:57,720 Speaker 2: the seat of going all right, well, this is where 655 00:28:57,720 --> 00:29:00,520 Speaker 2: my money's going, and this is how it works because 656 00:29:00,560 --> 00:29:02,320 Speaker 2: I know you use my budget and cash flow system. 657 00:29:02,400 --> 00:29:03,800 Speaker 4: Jo, Well, that's what I was going to say, is 658 00:29:03,880 --> 00:29:06,680 Speaker 4: I do use that spreadsheet that is where my budget 659 00:29:06,680 --> 00:29:08,680 Speaker 4: is based. And the thing that's really nice about it 660 00:29:08,720 --> 00:29:10,400 Speaker 4: is the way that you've set it up if you 661 00:29:10,440 --> 00:29:12,600 Speaker 4: plug in all your numbers for your spending, which you 662 00:29:12,640 --> 00:29:14,760 Speaker 4: do when you set it up, there's a drop down 663 00:29:14,800 --> 00:29:16,840 Speaker 4: tab on the side and you can actually with a 664 00:29:16,880 --> 00:29:20,880 Speaker 4: single click change it from monthly to fortnightly to weekly, 665 00:29:21,040 --> 00:29:23,200 Speaker 4: and it works it all out for you, which again 666 00:29:23,240 --> 00:29:25,040 Speaker 4: for someone like me who's not like you, don't have 667 00:29:25,120 --> 00:29:26,840 Speaker 4: to do it. You don't have to do it to anything. 668 00:29:26,840 --> 00:29:28,920 Speaker 4: You just put in your expenses and what you're spending, 669 00:29:28,960 --> 00:29:30,680 Speaker 4: plug it all in, and you can change it twice 670 00:29:30,680 --> 00:29:31,479 Speaker 4: a day if you want to. 671 00:29:31,560 --> 00:29:33,560 Speaker 2: I didn't build that spreadsheet so that you could do 672 00:29:33,600 --> 00:29:36,080 Speaker 2: the work. Yeah, I built that spreadsheet so you put 673 00:29:36,120 --> 00:29:38,920 Speaker 2: in all of your expenses and it spits out your 674 00:29:38,960 --> 00:29:41,760 Speaker 2: cash flow plan. It doesn't just go hey JS, here's 675 00:29:41,800 --> 00:29:44,320 Speaker 2: how to work it out. Do the maths. It says, hey, Jes, 676 00:29:44,400 --> 00:29:45,920 Speaker 2: how much do you spend on groceries? Put it in 677 00:29:45,960 --> 00:29:47,680 Speaker 2: this box. Hey Jess, how much has rent? Put it 678 00:29:47,720 --> 00:29:49,920 Speaker 2: in this box? Hey JS, how much are you saving 679 00:29:49,920 --> 00:29:52,320 Speaker 2: for your home to posit? Put in this box, and 680 00:29:52,400 --> 00:29:56,320 Speaker 2: then it spits out an automatic cash flow plan that says, okay, Jess, 681 00:29:56,360 --> 00:29:58,480 Speaker 2: sit down, this is what comes into your cash hub. 682 00:29:58,640 --> 00:30:00,320 Speaker 2: This is what has to go into saving. This is 683 00:30:00,360 --> 00:30:02,440 Speaker 2: what goes into your investment each and every single week 684 00:30:02,520 --> 00:30:05,160 Speaker 2: or month, or or however you want to calculate it. 685 00:30:05,360 --> 00:30:07,880 Speaker 2: And this is how much your weekly spending is. So 686 00:30:08,000 --> 00:30:10,280 Speaker 2: pop this on a debit card each and every single 687 00:30:10,320 --> 00:30:12,480 Speaker 2: week so that you can put yourself back in the 688 00:30:12,480 --> 00:30:14,800 Speaker 2: control seat. And then every week, yess, or you have 689 00:30:14,840 --> 00:30:17,360 Speaker 2: to worry about what's on your upcard. Right, Yeah, exactly, 690 00:30:17,800 --> 00:30:20,200 Speaker 2: we shut a plug for UP because we still love them. Yeah, 691 00:30:20,240 --> 00:30:20,680 Speaker 2: that's so true. 692 00:30:20,680 --> 00:30:22,800 Speaker 4: And I think ultimately the biggest thing to remember is 693 00:30:22,920 --> 00:30:25,560 Speaker 4: just because you're shifting to less pay cycles doesn't mean 694 00:30:25,560 --> 00:30:26,000 Speaker 4: you're gonna have. 695 00:30:26,080 --> 00:30:29,760 Speaker 2: Less money you're earning. The people freak out a little bit. 696 00:30:29,880 --> 00:30:31,600 Speaker 4: They go, oh my god, I'm only getting paid once 697 00:30:31,640 --> 00:30:34,240 Speaker 4: a month, but you have the same amount coming in. 698 00:30:34,280 --> 00:30:36,160 Speaker 4: I mean, if you've changed jobs, maybe your pay has 699 00:30:36,240 --> 00:30:38,040 Speaker 4: changed flightly, but like ignoring that, but I get to. 700 00:30:38,000 --> 00:30:40,920 Speaker 2: Mentally, so I get that. And the reason people shy 701 00:30:41,040 --> 00:30:44,400 Speaker 2: away from monthly pay is because it puts more responsibility 702 00:30:44,440 --> 00:30:46,760 Speaker 2: on you as an individual on having to do the 703 00:30:46,840 --> 00:30:49,400 Speaker 2: right thing with a bold amount of money, Whereas you know, 704 00:30:49,520 --> 00:30:52,400 Speaker 2: being weekly paid, yess, like you only have to meet 705 00:30:52,440 --> 00:30:54,880 Speaker 2: those things short term, and if you blow money all 706 00:30:54,920 --> 00:30:57,160 Speaker 2: in one week, then it's all right because you're getting 707 00:30:57,160 --> 00:30:59,680 Speaker 2: paid next week. And that's the mentality and that's not healthy, 708 00:31:00,120 --> 00:31:02,200 Speaker 2: but it's the way people see it. Whereas if you 709 00:31:02,280 --> 00:31:04,200 Speaker 2: got paid monthly and then you blue all of your 710 00:31:04,200 --> 00:31:07,440 Speaker 2: month's pay, it's another month until you get it. So 711 00:31:07,520 --> 00:31:10,400 Speaker 2: I think that that's the thing that puts anxiety inside 712 00:31:10,400 --> 00:31:13,240 Speaker 2: people when it comes to money and budgeting and allocating it, 713 00:31:13,320 --> 00:31:16,160 Speaker 2: which is why I'm such a staunch advocate of a 714 00:31:16,280 --> 00:31:19,360 Speaker 2: really solid budgeting cashlow system, which I'll do absolutely for you, 715 00:31:19,600 --> 00:31:21,280 Speaker 2: saying that this is a very good time to plug 716 00:31:21,320 --> 00:31:23,720 Speaker 2: our budget cashlow master class. Yes, so if you use 717 00:31:23,880 --> 00:31:27,040 Speaker 2: what is it, what's the code pod? Fifty Yeah, fifty 718 00:31:27,040 --> 00:31:29,960 Speaker 2: bucks off you are. Don't say we don't do anything 719 00:31:29,960 --> 00:31:32,640 Speaker 2: for you. I'll literally do your entire budget cash flow. 720 00:31:32,640 --> 00:31:35,440 Speaker 2: But you're in anyway, George, can you wrap the boring 721 00:31:35,480 --> 00:31:37,760 Speaker 2: but important stuff? Of course I can already. 722 00:31:37,760 --> 00:31:40,040 Speaker 5: Guys, Please remember that the advice sheed on She's on 723 00:31:40,080 --> 00:31:42,400 Speaker 5: the Money is general in nature and does not consider 724 00:31:42,400 --> 00:31:45,960 Speaker 5: out your individual circumstances. She's on the Money exists purely 725 00:31:46,040 --> 00:31:48,760 Speaker 5: for educational purposes and should not be relied upon to 726 00:31:48,760 --> 00:31:51,760 Speaker 5: make an investment or a financial decision, and we promise 727 00:31:51,880 --> 00:31:55,280 Speaker 5: Victoria divine and she's on the money. Are authorized representatives 728 00:31:55,480 --> 00:31:59,640 Speaker 5: in Focused Securities Australia Proprietary Limited ABN four seven zero 729 00:31:59,760 --> 00:32:02,160 Speaker 5: nine seven seven nine seven zero four nine a FO 730 00:32:02,240 --> 00:32:05,280 Speaker 5: SAL two three seats five two three. See you on Monday, guys, 731 00:32:05,280 --> 00:32:06,200 Speaker 5: sign see you