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Speaker 1: Hello, my name is Santasha Nabananga Bamblet. I'm a proud

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Speaker 1: or the Order Kerni Whaltbury and a waddery woman. And

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Speaker 1: before we get started on She's on the Money podcast,

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Speaker 1: I would like to acknowledge the traditional custodians of the

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Speaker 1: land of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money. She's on the Money.

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Speaker 2: Hello and welcome. She's on the Money. That makes personal

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Speaker 2: finance fun, especially on Fridays. It's our or my or

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Speaker 2: I don't know. I think everybody loves it. But it's

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Speaker 2: our favorite day of the week because it's the end

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Speaker 2: of the week. But also we get our beautiful team

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Speaker 2: together to celebrate you the incredible She's on the Money community.

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Speaker 2: Miss Grigi is here to share our favorite money wins

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Speaker 2: and confessions for the week. Miss Bech Sayed is here

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Speaker 2: to share some hinged andn hinged broken here and we're

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Speaker 2: going to be helping to answer our money dilemma today

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Speaker 2: This week unrelatable, but it's about someone who got a

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Speaker 2: surprise car from their parents. Oh wow, but there are

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Speaker 2: some financial strings attached of course, where the dilemma comes

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Speaker 2: in and something you slit into our DMS about this week,

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Speaker 2: we're talking about how to split housing costs with your

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Speaker 2: partner when one of you owns the wholehouse. I feel

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Speaker 2: like this will be as good a conversation to be having.

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Speaker 2: But before we get there, how have your weeks been?

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Speaker 2: My loves you go first? Yes, please, very exciting.

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Speaker 4: If you're listening to this first thing in the morning,

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Speaker 4: it happened to be in Melbourne. We are currently right

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Speaker 4: now at the Australian Open, probably to do a live podcast.

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Speaker 2: What do you mean probably? We are definitely at the

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Speaker 2: Australian A good time. Six am. Yeah, like we're not up.

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Speaker 4: I'm not there am definitely, But if you're around twelve

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Speaker 4: pm at the top court, awake for us. Give us

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Speaker 4: a squeeze. We're so excited, so cool.

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Speaker 2: Actually no, I'm really not just to watch the tennis.

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Speaker 2: This is probably not what the Australian Open want me

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Speaker 2: to say, because like we should be saying, go to

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Speaker 2: the Australian Open. Just watch the tennis, that's what it's

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Speaker 2: all about. But like they have that top court, like

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Speaker 2: it's all about the ground pass, Like there are installations

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Speaker 2: and activities like Mecca is there, Like they always have

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Speaker 2: a beautiful apparel sprits stand. Like it's about the vibes. Yeah,

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Speaker 2: so you get to watch the tennis obviously elite, but

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Speaker 2: also the installations, the music, there's always like it's festival vibes,

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Speaker 2: your festival Melbourne. I adore it. It is so fun.

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Speaker 2: But like, also, guys, we're doing a live podcast in

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Speaker 2: the Australian.

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Speaker 1: I'm sick.

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Speaker 2: I'm sick, I'm sick. So fun, but Beck, that's what

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Speaker 2: Jess is excited about. Are you excited about anything this week?

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Speaker 2: I can't say the same thing.

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Speaker 4: For letting me go first.

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Speaker 2: Damn well that's all I had.

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Speaker 5: No, I'm just kidding. I am actually today is it

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Speaker 5: is confusing to say this because we're right now maybe sleeping,

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Speaker 5: maybe the Australian Open, but also today is also my

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Speaker 5: move in day because I finally prefer it rental.

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Speaker 2: My friend, goodness, I'm going to ask you about this offline.

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Speaker 2: I know you your actually answer on the podcast the

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Speaker 2: dress and stuff like, do not give that information away.

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Speaker 2: That's so fair.

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Speaker 5: We had been flying for like a long time and

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Speaker 5: it's just like hectic. We went to a few open

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Speaker 5: like what open home for inspections, Open for inspections, thank you, Yeah,

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Speaker 5: because I open homes a first selling house and we

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Speaker 5: were renting. But we went to a few and it

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Speaker 5: was like a concert in these houses. It was like

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Speaker 5: packed with people, and I was like, we're never ever

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Speaker 5: ever moving getting back together. We were applying as a couple,

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Speaker 5: so I think that's still relevant that update updates.

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Speaker 2: But we you're living, we're living with your partner.

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Speaker 5: Now no, my friend's partner, but we're pretending that we're

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Speaker 5: a couple.

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Speaker 2: I missed a step.

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Speaker 4: I know.

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Speaker 5: Sorry, I didn't know it was. I just wanted to

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Speaker 5: give to justify you.

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Speaker 2: Are pretending to be in a relationship with We thought that, yeah,

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Speaker 2: just because we thought they would work on it. Turns

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Speaker 2: out it did.

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Speaker 5: But the house we applied for straight because that would

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Speaker 5: be even funnier it would be.

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Speaker 2: But no, it's actually also a girl. So I love

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Speaker 2: that you didn't have to go too far.

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Speaker 5: I was, yeah, I was worried about like, oh my god, bo,

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Speaker 5: it's a homophobic but no one else applied for this house,

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Speaker 5: so that's what we got because it's very ugly. But

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Speaker 5: I'm very excited and that's.

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Speaker 6: What I'm excited for.

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Speaker 2: What you make it.

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Speaker 4: You make it exactly, And he's so much stressed that

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Speaker 4: it must be a big relief.

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Speaker 2: Oh my god.

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Speaker 5: It's sometimes to be like other searches over you guys,

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Speaker 5: such as oh can you help moving.

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Speaker 6: After the AO? They are so sweet. I think I'm

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Speaker 6: just going to do it.

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Speaker 5: I think I'm going to do it tomorrow. Yeah, instead

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Speaker 5: going to do this.

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Speaker 2: But whatever sore we go, you'll be too tired. We

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Speaker 2: would have had a few soda waters. Yeah exactly.

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Speaker 5: I'll be well and truly so hydrated by them.

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Speaker 2: Exactly exactly. All right, let's move on. But before we

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Speaker 2: get there, I'm carrying on what we picked up last year.

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Speaker 2: I'm going to read you guys a five star review

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Speaker 2: that someone has left us. Can't wait. So they user

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Speaker 2: name is I love Chaers East. I get it, I

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Speaker 2: get it, I get it. They said, I absolutely love

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Speaker 2: this podcast. I love money Darries and listening to all

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Speaker 2: their different stories from listeners Friday episodes are so fun

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Speaker 2: listening to the girls. Love the dynamic of the three

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Speaker 2: of you together. I'm a in quotation marks elder millennial

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Speaker 2: and have learned so much about investing and my husband

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Speaker 2: and I both have a Chazy's account and love comparing together.

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Speaker 2: Well done, ladies, empowering other women with skills and knowledge.

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Speaker 2: Who runs the world? Girls incredible? Use a name like

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Speaker 2: I'm going to send that screenshot to the CHAS team

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Speaker 2: and be like, guys, I get it. I mean the

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Speaker 2: passion for like you've started picking up on your passion

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Speaker 2: for chairs.

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Speaker 5: That's all I think about.

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Speaker 2: I feel like you're always like there. I invested a

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Speaker 2: little bit more today and I'm like, yeah, cool in

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Speaker 2: what You're like the same thing.

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Speaker 5: I'm like cool, But okay, that's great.

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Speaker 2: Consistent.

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Speaker 5: I check it like three times a day. I don't

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Speaker 5: know why it's like the same number every time, but yeah,

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Speaker 5: I love Cheza to whoever you, I get it.

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Speaker 2: Relatable content. All right, let's move on because we have

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Speaker 2: a whole heap of money whens and confessions from the community.

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Speaker 2: Just take it away.

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Speaker 4: I'm going to start off this week with one from Justine,

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Speaker 4: who said she bought a pair of Christmas earrings for

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Speaker 4: this coming Christmas. They were marked down to like for

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Speaker 4: like five Christmas old dread. This is this week's thread.

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Speaker 4: It was six dollars marked down to fifty cents, and

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Speaker 4: then she used her daughter's friend's staff discount shut down

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Speaker 4: to forty cents.

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Speaker 2: It's long's this stuff discount on a fifty cent paper

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Speaker 2: as well?

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Speaker 4: Someone went to me and said it's peak broke tips

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Speaker 4: using a staff discount on a fifty cent transaction. I agree,

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Speaker 4: every bit counts so true.

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Speaker 2: That ten cents in probably ten years is it going

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Speaker 2: to be worth like, I don't know a dollar money,

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Speaker 2: We never know. Well, chances right now actually compounding interest

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Speaker 2: is probably only you to be worth twenty cents point.

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Speaker 2: Well done, Justine.

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Speaker 4: Next, I've got a money in from Ida who said,

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Speaker 4: if you live in Perth over the school holidays, public

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Speaker 4: transport and the associated parking for public transport is free.

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Speaker 2: Oh oh, she's actually really cool.

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Speaker 4: Yeah, she's saving herself as a tidy thirty dollars a week,

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Speaker 4: which I thought was both for anyone over in wa Hey.

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Speaker 2: That's nice, like obviously a little money win, but also

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Speaker 2: some free cash flow for mom and dad to spend

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Speaker 2: some money on the school holidays.

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Speaker 4: So it's genius, never going to go astray. Next, I've

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Speaker 4: got a money win from Avin and I did have

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Speaker 4: to look up how to say your name, but I

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Speaker 4: think we got it right.

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Speaker 6: It's a bit of a story.

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Speaker 2: To bear with.

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Speaker 4: Me Avin said that they had bought Quantus vouchers for

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Speaker 4: Christmas pre COVID. Obviously COVID happened, had.

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Speaker 7: To cancel them.

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Speaker 4: They were to voucher fast forward. It's now been a

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Speaker 4: couple of years. They used the voucher to book refundable

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Speaker 4: flights to travel from Sydney to Perth. Unfortunately they had

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Speaker 4: to cancel and Quantus told them that they couldn't refund

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Speaker 4: or even reissue the vouchert because it was over three

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Speaker 4: years old.

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Speaker 2: No, that's not how it works. We're going straight down

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Speaker 2: to consumer refests.

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Speaker 4: Not even an issue because apparently the day she was

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Speaker 4: going to fly, Quantus called her and said we're overbooked.

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Speaker 6: Will you take a refund?

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Speaker 4: And Avin was like, oh, I must, but she got

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Speaker 4: a cash back.

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Speaker 6: She got a cash back.

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Speaker 4: I hope you asked them for like the compensation you

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Speaker 4: get for canceled flights as well. You didn't send an

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Speaker 4: email girl go hard or go home, But I always

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Speaker 4: hooked that whole. That's a great story, really good story

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Speaker 4: from start to finish. There you go.

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Speaker 2: So we learned a new Irish name. Can you actually

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Speaker 2: spell that out? Because absolutely so? Like her name's Aven's beautiful?

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Speaker 2: How do you spell aven?

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Speaker 4: Imagine my face, you guys, when I pull up my

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Speaker 4: money win and I realize this is the name that

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Speaker 4: I have to pronounce A O, I, B H E A.

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Speaker 2: Double N, which I get it. It's an Irish name,

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Speaker 2: like it's like nive and that's spelling. They don't make

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Speaker 2: a lot of sense. They're beautiful names when you say

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Speaker 2: them verbally, but like, I am going to literally ruin

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Speaker 2: your name if I have to say it the way

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Speaker 2: it's spelled. So weally it turns out another beautiful Irish name.

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Speaker 5: We listened to a long, long, long start of video

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Speaker 5: and then finally make sure that we were doing You

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Speaker 5: had to make sure that's so true and know that's

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Speaker 5: so true.

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Speaker 2: I didn't want to massacre a name like that's rude.

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Speaker 2: How many people say her name wrong?

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Speaker 4: She says, you still did in nailor. I'm going to

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Speaker 4: be a little bit upset. We really tried call me

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Speaker 4: next time. Got a money win from Emily, who said

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Speaker 4: she bought a cricket maker secondhand and it was still

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Speaker 4: under warranty. She bought it for one hundred and fifty dollars.

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Speaker 4: She's been saving for months and now she has heaps

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Speaker 4: of money leftover.

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Speaker 2: Oh that's some money win. You love your cricket.

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Speaker 4: I love my cricket, and now you've got lots of

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Speaker 4: money to put towards extra craft supplies, which I think.

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Speaker 2: I told my mom that you had a cricket, and

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Speaker 2: she bought herself a cricket.

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Speaker 4: Did she?

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Speaker 6: Oy?

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Speaker 2: What are you using a cricket for? Are you talk

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Speaker 2: about cricket the sport? No?

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Speaker 1: No?

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Speaker 2: Oh sorry, it's like a vinyl It's like a vinyl cutter.

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Speaker 6: This is weird.

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Speaker 2: Sorry. It's like a vinyl cutter. So you can like

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Speaker 2: put pieces of like sticky vinyl in and make your

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Speaker 2: own stickers and stuff. Oh that's cool.

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Speaker 4: A lot of people use them for like wedding diys

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Speaker 4: or party d I wise you.

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Speaker 2: Know, so yeah, like vinyl cutting. But then also you

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Speaker 2: could like replaced the blade with a pen and it

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Speaker 2: will like draw on your things or like Yeah, it's

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Speaker 2: very cool. I haven't cut wood like.

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Speaker 6: It's a very thin wood like.

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Speaker 4: Yeah, it's like a little crafty thing.

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Speaker 5: For the sake of this episode, I'm gonna pretend I know,

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Speaker 5: but I'm.

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Speaker 2: Absolutely gonna have to google, like not pitch or anything.

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Speaker 2: I show you another YouTube video.

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Speaker 5: Yeah, we play the school day longer, the better longer

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Speaker 5: it takes together.

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Speaker 4: Lastly, this week, I've got a money in from Cindy

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Speaker 4: and had a little bit of a journey but a

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Speaker 4: great ending. She said she had a small diamond fall

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Speaker 4: off of her wedding band a few months ago. She

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Speaker 4: luckily she was able to save the stone and had

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Speaker 4: it repaired by a jeweler. Unfortunately, it fell off again

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Speaker 4: a couple of weeks later, and this time she didn't notice,

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Speaker 4: so the stone was gone. She hesitated to go back

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Speaker 4: to the jewelry shop to let them know what had happened,

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Speaker 4: but eventually got up the courage went in and turns

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Speaker 4: out the staff were actually very apologetic assured her that

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Speaker 4: they will repair it and probably replace the lost stone

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Speaker 4: free of charge. So she's gonna go in later this

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Speaker 4: week to confirm.

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Speaker 2: The girls just but sorry as they should.

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Speaker 4: Yeah, well, yeah, truly they didn't go very well.

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Speaker 2: Yeah, like that would be really annoying and often jewelry,

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Speaker 2: especially if you're spending money on getting it repaired, I'm

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Speaker 2: assuming has some level of sentimental value, like yeah, you're

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Speaker 2: fixing it, but like, yeah, I.

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Speaker 5: Would, I don't want to be losing it because.

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Speaker 2: Yeah, exactly exactly. Well, those were fun and also I

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Speaker 2: feel like Beck and I jumped on it really quick

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Speaker 2: and we're like, Beck, I want to know what are

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Speaker 2: your broke tips of the way, Yes, let me bring

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Speaker 2: them up for you guys.

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Speaker 5: So this first one comes from Live, who says, apparently.

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Speaker 2: Your friend Live, you's been getting your friends to do

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Speaker 2: your work for you. Again always honestly exactly.

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Speaker 5: This is from a different friend Live and also someone

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Speaker 5: haven't met yet, someone who's a listeners just a friend

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Speaker 5: and friend exactly. Live says delete and redownload the MACS

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Speaker 5: app for unlimited tool lattes.

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Speaker 6: Oh my god, that's such.

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Speaker 2: A how does that happen? My mind was blown. I

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Speaker 2: haven't tried it yet because we're going to try it.

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Speaker 5: Because I'm into French press at the moment, but I

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Speaker 5: would like.

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Speaker 6: To try the French press.

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Speaker 2: Yes, I'm actually percolated girl now sounds very.

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Speaker 5: I don't put anyone talking to me or looking at anyone.

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Speaker 2: I'm I currently have a hyperfixation on a mont Blanc

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Speaker 2: coffee cream. Yes, so it is a cold brew coffee

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Speaker 2: at the bottom, it has a sugar syrup that has

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Speaker 2: elient orange in it in the coffee. No, no, it works.

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Speaker 2: It's giving Terrries chocolate orange. Okay, okay, and everybody loves

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Speaker 2: the Terry's chocolate orange. Are you joking? I do love

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Speaker 2: orange orange chocolate too.

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Speaker 5: Sorry, but I'm with you. I'm still hearing you.

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Speaker 2: I do not. I'm sure you could forgo the orange

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Speaker 2: from you could forego the purpose is orange like it

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Speaker 2: is orange.

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Speaker 4: Sorry.

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Speaker 2: Well, in that case, my husband was like, why would

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Speaker 2: you want to mix orange juice with coffee? Are you in?

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Speaker 6: I completely agree.

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Speaker 2: Then they top it with like a cold foam, so

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00:14:03,920 --> 00:14:06,480
Speaker 2: it's like a cream mixed with orange, and then there's

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Speaker 2: nutmeg and orange rind on the top, and it like,

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Speaker 2: maybe I'm not telling.

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Speaker 8: It that sound orange sounds delicious. While a maca is

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00:14:22,600 --> 00:14:27,440
Speaker 8: latte may not be mont Blanc, that's true. Constant free lattes.

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Speaker 2: Soft, It's just that LTEs Jessica. Sorry, yeah, maybe we'll

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Speaker 2: try one day, all right, We're gonna try it because

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Speaker 2: I love a Macco's coffee. Yeah, this is so so good.

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Speaker 2: That is such a great I feel like I'm not

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Speaker 2: a very good Melbourne coffee snob though, and people always

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00:14:44,800 --> 00:14:47,240
Speaker 2: ask me because just you don't drink coffee, but you

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00:14:47,240 --> 00:14:50,280
Speaker 2: do drink coffee. But like, I love a seven eleven

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00:14:50,320 --> 00:14:53,880
Speaker 2: coffee same like, and that's not a sponsored conversation. I

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Speaker 2: also love a Maca's coffee. Do you know what I love?

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Speaker 2: I love consistency. I didn't love it when neither of

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Speaker 2: them offered like oat milkn like my preferences, because I

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00:15:02,320 --> 00:15:04,920
Speaker 2: was like, oh, like, I don't really like drinking cow's

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Speaker 2: milk because it makes me feel icky. So like that's

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Speaker 2: the reason I was turned off it. But a seven

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Speaker 2: eleven coffee, yes, you know how hard they would have

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Speaker 2: thought about, like the blend, the coffee beans, the actual

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Speaker 2: machines they put in store so that you always get

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Speaker 2: a consistent experience.

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Speaker 5: Totally, and they do soy milk now they do?

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00:15:20,880 --> 00:15:23,800
Speaker 2: Oh yeah, yeah they do. I feel like I want

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00:15:23,840 --> 00:15:26,680
Speaker 2: to take credit for that. I think you can't think,

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Speaker 2: but I'm there every day. I was there this morning, Like,

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00:15:30,800 --> 00:15:33,120
Speaker 2: I'm mixed and you are a protein girly, right, you

330
00:15:33,200 --> 00:15:36,520
Speaker 2: know the rope Bees. Oh yeah, I love those. Yeah.

331
00:15:36,560 --> 00:15:39,560
Speaker 2: So Rogeb's is a protein smoothie. So you go into

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00:15:39,560 --> 00:15:42,040
Speaker 2: seven eleven. This is my hack of the week. Apologies,

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Speaker 2: this is a new segment. You go into seven eleven

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Speaker 2: and you get the iced coffee cup, so it's a

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Speaker 2: cup of ice. You put a double espresso in the

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Speaker 2: bottom of that, and then you pour the rope Bees

337
00:15:51,240 --> 00:15:53,880
Speaker 2: over the top, and then you have a thirty gram

338
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Speaker 2: protein coffee.

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Speaker 5: Wow, oh my god, Victoria, I have I'm a genius.

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Speaker 2: You can say that. You can say it. It's okay,

341
00:16:01,960 --> 00:16:04,280
Speaker 2: everybody else is. I'm literally going to do that as

342
00:16:04,280 --> 00:16:06,120
Speaker 2: soon as we finished. Yeah, and like it doesn't fit

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00:16:06,240 --> 00:16:08,320
Speaker 2: the whole thing. So you think you have a little

344
00:16:08,320 --> 00:16:10,880
Speaker 2: bit of the roge Bees, but like vanilla, roage Bees

345
00:16:10,960 --> 00:16:13,840
Speaker 2: tastes like melted ice cream. So I'm not mad. I'm

346
00:16:13,880 --> 00:16:15,600
Speaker 2: going to drink that, get rid of the bottle. Then

347
00:16:15,640 --> 00:16:18,600
Speaker 2: I'm having my coffee and it's a protein coffee and live.

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Speaker 5: Luff feeling as well. That's a whole meal.

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00:16:20,800 --> 00:16:22,520
Speaker 2: That is a whole meal for a couple of bucks

350
00:16:22,520 --> 00:16:26,120
Speaker 2: exactly money may thank you, sorry, thank you for no,

351
00:16:26,240 --> 00:16:28,600
Speaker 2: don't ever go for my ted protein talk.

352
00:16:29,480 --> 00:16:31,400
Speaker 5: So this one comes from Savannah. I love the wording

353
00:16:31,400 --> 00:16:32,680
Speaker 5: of this, so I'm just going to use it and

354
00:16:32,760 --> 00:16:35,240
Speaker 5: I'm so sorry that if it's disgusting for anyone else.

355
00:16:35,280 --> 00:16:40,440
Speaker 2: But where the carcass from? Your wise chicken? This good

356
00:16:40,520 --> 00:16:42,920
Speaker 2: chicken soup material, which I totally.

357
00:16:42,720 --> 00:16:44,400
Speaker 5: Agree with because you know, you get your roast chicken

358
00:16:44,440 --> 00:16:45,400
Speaker 5: and that's the word for it.

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00:16:45,560 --> 00:16:48,440
Speaker 6: Yeah, it's the word for it. Give me a little shiver.

360
00:16:48,680 --> 00:16:52,640
Speaker 2: Yeah, have you not seen my Instagram stories on the

361
00:16:52,680 --> 00:16:55,920
Speaker 2: whole chicken thing? So you buy a chicken, Yeah, if

362
00:16:55,960 --> 00:16:57,120
Speaker 2: you do it, at the end of the day, it

363
00:16:57,200 --> 00:16:59,840
Speaker 2: might be fifty percent off money in you can take

364
00:16:59,880 --> 00:17:01,600
Speaker 2: all of the chicken off that and you can make

365
00:17:01,640 --> 00:17:03,920
Speaker 2: the chicken salad mix and you can have that in

366
00:17:03,960 --> 00:17:06,119
Speaker 2: sandwiches for the week. You're then going to make chicken

367
00:17:06,320 --> 00:17:09,159
Speaker 2: stock with the carcasse. You are right, that is a

368
00:17:09,160 --> 00:17:11,800
Speaker 2: great broke tip. You are going to put, like, honestly

369
00:17:11,920 --> 00:17:15,640
Speaker 2: so easy. You're going to take jess with the carcass,

370
00:17:16,320 --> 00:17:19,000
Speaker 2: but you're gonna like just chuck a carrot and onion

371
00:17:19,200 --> 00:17:21,959
Speaker 2: some celery. What Honestly, if you've got vegetables that are

372
00:17:22,000 --> 00:17:24,359
Speaker 2: dying in the bottom of your fridge, those all go

373
00:17:24,520 --> 00:17:28,240
Speaker 2: in too. Dead stock, maybe some ginger, maybe some garlic.

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00:17:28,280 --> 00:17:30,960
Speaker 2: You're going to put that on the stove on low

375
00:17:31,040 --> 00:17:39,000
Speaker 2: overnight or in like a slow cooker. Yeah, it's just

376
00:17:39,080 --> 00:17:41,919
Speaker 2: it's just how you roll. We did not make that

377
00:17:42,000 --> 00:17:45,560
Speaker 2: recommendation anyway. You're going to cook it for a long

378
00:17:45,600 --> 00:17:48,000
Speaker 2: period of time so that you then pour off the stock.

379
00:17:48,400 --> 00:17:51,399
Speaker 2: Then you're going to pour some pasta into the stock

380
00:17:51,440 --> 00:17:53,440
Speaker 2: that is left over. So like you've taken your chicken

381
00:17:53,440 --> 00:17:58,240
Speaker 2: stock off, save that for later, chicken soup for dinner. Okay,

382
00:17:58,560 --> 00:18:01,639
Speaker 2: three meals, one chicken, fifty percent off of money.

383
00:18:01,760 --> 00:18:06,320
Speaker 5: When I don't acknowledge the car veedetarians of the vegans,

384
00:18:06,359 --> 00:18:08,199
Speaker 5: because I used to be vegetarian, I'm not anymore. And

385
00:18:08,200 --> 00:18:09,840
Speaker 5: that's like, you know, I can't like always that's my

386
00:18:09,880 --> 00:18:11,720
Speaker 5: claim to face, like, oh, I used to be vegetarians.

387
00:18:11,840 --> 00:18:14,880
Speaker 2: I used to be vegan. Yeah, that's truextra pregnant and

388
00:18:14,960 --> 00:18:18,240
Speaker 2: all I did. Also, that's it's a public service announcement

389
00:18:18,280 --> 00:18:22,399
Speaker 2: because sometimes I post things on my Instagram story like

390
00:18:22,400 --> 00:18:24,840
Speaker 2: the rogue beest this morning, I posted that I had

391
00:18:24,840 --> 00:18:29,040
Speaker 2: made like a protein coffee and someone replied, aren't you vegan? Right,

392
00:18:29,560 --> 00:18:31,800
Speaker 2: you would not be wrong if that was two years ago.

393
00:18:32,640 --> 00:18:36,439
Speaker 2: But I got pregnant and then all I did was

394
00:18:36,560 --> 00:18:39,760
Speaker 2: crave red meat. Yeah yeah, yeah yeah, And for a

395
00:18:39,760 --> 00:18:42,360
Speaker 2: long time I was like not not just then what happened.

396
00:18:42,600 --> 00:18:45,080
Speaker 4: We went through the steak fritz phase and it was delightful.

397
00:18:46,080 --> 00:18:49,119
Speaker 2: I wanted to do was eat steak and chips, and

398
00:18:49,160 --> 00:18:51,439
Speaker 2: we did that every day for a week when I

399
00:18:51,520 --> 00:18:54,320
Speaker 2: was pregnant. It probably is why I put on more

400
00:18:54,320 --> 00:18:58,280
Speaker 2: than thirty kilos during my pregnancy, pure mustard, no regret.

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00:18:58,280 --> 00:19:03,639
Speaker 5: Absolutely absolutely, And then my broke tip. Yes, so this

402
00:19:03,800 --> 00:19:06,200
Speaker 5: is just a suggestion because they don't have any proof

403
00:19:06,280 --> 00:19:06,919
Speaker 5: that it works.

404
00:19:06,960 --> 00:19:12,280
Speaker 2: But when I was fantastic stuff. But I do have

405
00:19:12,359 --> 00:19:14,800
Speaker 2: proof that people can be interested. Anyway.

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00:19:14,920 --> 00:19:17,399
Speaker 5: The point is when we were looking for rentals, and

407
00:19:17,440 --> 00:19:20,240
Speaker 5: when I have historically looked for rentals, I would go

408
00:19:20,280 --> 00:19:23,439
Speaker 5: on real estate dot Com and sort from oldest to

409
00:19:23,520 --> 00:19:27,439
Speaker 5: newest and be like actually very smart, yes, And then

410
00:19:27,440 --> 00:19:29,800
Speaker 5: I would see, like, you know, some places obviously ugly,

411
00:19:30,080 --> 00:19:32,000
Speaker 5: and I think when you're like me, or if you're

412
00:19:32,040 --> 00:19:35,680
Speaker 5: like desperate, you don't actually care how ugly it is because.

413
00:19:35,400 --> 00:19:37,480
Speaker 2: You just yeah, you wouldn't know. I didn't even know

414
00:19:37,480 --> 00:19:39,040
Speaker 2: you could saw oldest totally.

415
00:19:39,119 --> 00:19:41,480
Speaker 5: It's like no one's these have been up here for ages,

416
00:19:41,520 --> 00:19:43,199
Speaker 5: no one's renting them. And then when you go to

417
00:19:43,400 --> 00:19:45,200
Speaker 5: for just ay that's it. When you got to apply,

418
00:19:45,359 --> 00:19:48,080
Speaker 5: you put it actually like the the box where it

419
00:19:48,119 --> 00:19:50,000
Speaker 5: has the rent and that's not blacked out. You can

420
00:19:50,000 --> 00:19:52,560
Speaker 5: actually put in there what you would look like to pay.

421
00:19:52,920 --> 00:19:55,680
Speaker 5: And then I have had times when I was looking

422
00:19:55,680 --> 00:19:57,880
Speaker 5: for rentals by myself where I and this is pre

423
00:19:58,240 --> 00:20:00,639
Speaker 5: rental crisis. This is like a few years ago, I

424
00:20:00,720 --> 00:20:03,080
Speaker 5: put ten dolls less and the real Tota agent would

425
00:20:03,080 --> 00:20:05,160
Speaker 5: call me every time and be like, oh, yeah, no worries,

426
00:20:05,280 --> 00:20:07,480
Speaker 5: I'll see if the landlord is okay with this. I

427
00:20:07,560 --> 00:20:09,360
Speaker 5: ended up getting a share house, so I don't know

428
00:20:09,480 --> 00:20:11,159
Speaker 5: that they would have gone through with That's just a

429
00:20:11,160 --> 00:20:13,560
Speaker 5: good tip anyway, I just try.

430
00:20:13,440 --> 00:20:16,199
Speaker 4: It, especially if it's an It wouldn't work if you're

431
00:20:16,240 --> 00:20:18,119
Speaker 4: applying for as you were saying, like a property that

432
00:20:18,160 --> 00:20:20,600
Speaker 4: heaps of people applying for, But if you're picking old

433
00:20:20,600 --> 00:20:22,040
Speaker 4: ones that have been on the market for weeks and

434
00:20:22,040 --> 00:20:23,840
Speaker 4: weeks and they just want to get a tenant in Yes,

435
00:20:23,960 --> 00:20:24,720
Speaker 4: you might get lucky.

436
00:20:24,800 --> 00:20:25,600
Speaker 6: You might get lucky.

437
00:20:26,440 --> 00:20:30,960
Speaker 2: Don't get that's it the week. That's actually a really

438
00:20:30,960 --> 00:20:32,880
Speaker 2: good tip because I feel like in the new year,

439
00:20:32,960 --> 00:20:35,399
Speaker 2: people are starting to think about, oh my gosh, like

440
00:20:35,720 --> 00:20:37,520
Speaker 2: I do want to move this year, so we're all

441
00:20:37,560 --> 00:20:40,160
Speaker 2: thinking like should we shouldn't we? Like, that's a great tip.

442
00:20:40,240 --> 00:20:42,040
Speaker 2: I love that. All right, let's go to a really

443
00:20:42,080 --> 00:20:44,520
Speaker 2: quick break because I am chomping at the bit to

444
00:20:44,560 --> 00:20:46,280
Speaker 2: get to the part where we get to talk about

445
00:20:46,280 --> 00:20:49,040
Speaker 2: how to split housing costs with your partner if one

446
00:20:49,080 --> 00:20:52,040
Speaker 2: of you owns the house entirely. But then we also

447
00:20:52,200 --> 00:20:54,479
Speaker 2: are going to be answering a money dilemma that's going

448
00:20:54,560 --> 00:20:58,320
Speaker 2: to come first about someone who got gifted a car

449
00:20:58,359 --> 00:21:00,840
Speaker 2: from their parents as a surprise, but then it came

450
00:21:00,880 --> 00:21:04,840
Speaker 2: with a whole heap of financial strings attached. And I

451
00:21:04,920 --> 00:21:06,159
Speaker 2: just think that's going to be juicy.

452
00:21:06,280 --> 00:21:12,560
Speaker 5: So don't go anywhere. Welcome back, everybody. Let's take a

453
00:21:12,600 --> 00:21:16,359
Speaker 5: listen to this week's money dilemma.

454
00:21:16,520 --> 00:21:18,919
Speaker 2: Hi, there, have you got a money dilemma you just

455
00:21:18,960 --> 00:21:21,480
Speaker 2: can't solve that. She's on the Money Team is here

456
00:21:21,520 --> 00:21:24,760
Speaker 2: to help. Every week we tackle your dilemmas both big

457
00:21:24,800 --> 00:21:27,480
Speaker 2: and small to answer your most burning money, career and

458
00:21:27,560 --> 00:21:30,760
Speaker 2: life questions. To get involved, simply head to our website

459
00:21:30,760 --> 00:21:32,880
Speaker 2: and leave us a short voice recording and you might

460
00:21:32,960 --> 00:21:35,520
Speaker 2: just find yourself on the show. Now, let's take a

461
00:21:35,560 --> 00:21:37,320
Speaker 2: listen to this week's money dilemma.

462
00:21:38,600 --> 00:21:41,200
Speaker 7: Hi, she's on the money team. When I was seventeen,

463
00:21:41,240 --> 00:21:43,919
Speaker 7: my parents surprised me with a car. I knew they

464
00:21:43,960 --> 00:21:46,679
Speaker 7: weren't going to contribute financially to the car, but I

465
00:21:46,720 --> 00:21:50,520
Speaker 7: was still extremely grateful for the surprise. My understanding was

466
00:21:50,560 --> 00:21:53,240
Speaker 7: they purchased the car with their savings and I would

467
00:21:53,240 --> 00:21:56,920
Speaker 7: pay them back. Prior to this, my budget was never discussed.

468
00:21:57,119 --> 00:22:00,359
Speaker 7: The car ended up costing twenty one K. I had

469
00:22:00,400 --> 00:22:02,919
Speaker 7: two hundred dollars in my savings at the time and

470
00:22:03,000 --> 00:22:06,240
Speaker 7: personally wouldn't have chosen a car worth that much. I'm

471
00:22:06,240 --> 00:22:08,080
Speaker 7: now twenty two, and I paid the car off mid

472
00:22:08,200 --> 00:22:11,679
Speaker 7: last year, but still contributed money afterwards into my parents'

473
00:22:11,680 --> 00:22:15,159
Speaker 7: account as it was for savings. I ended up saving

474
00:22:15,200 --> 00:22:17,800
Speaker 7: an extra ten K to contribute to my house deposit,

475
00:22:18,200 --> 00:22:21,920
Speaker 7: putting me on track to purchase my first home this year. However,

476
00:22:21,960 --> 00:22:24,040
Speaker 7: I've only just found out that my dad had actually

477
00:22:24,080 --> 00:22:26,080
Speaker 7: gotten a loan out in his name to pay for

478
00:22:26,119 --> 00:22:28,760
Speaker 7: the car. He didn't tell me, and now I owe

479
00:22:28,840 --> 00:22:31,440
Speaker 7: ten k in interest from the loan he took out.

480
00:22:31,920 --> 00:22:33,680
Speaker 7: My dad doesn't seem to think it's a big deal

481
00:22:33,720 --> 00:22:36,200
Speaker 7: and gets really annoyed and dismissive when I try to

482
00:22:36,240 --> 00:22:39,800
Speaker 7: speak to him about it, which extremely frustrates me. A

483
00:22:39,880 --> 00:22:41,640
Speaker 7: loan is a big deal and that should have been

484
00:22:41,680 --> 00:22:44,320
Speaker 7: my decision to make. I also would have made more

485
00:22:44,359 --> 00:22:46,280
Speaker 7: of an effort to pay my car off quicker to

486
00:22:46,320 --> 00:22:48,919
Speaker 7: save more on the interest. There's a side of me

487
00:22:49,000 --> 00:22:52,160
Speaker 7: that feels like I shouldn't have to pay it, even

488
00:22:52,200 --> 00:22:55,160
Speaker 7: though I'm obviously going to. I love my dad to bits,

489
00:22:55,200 --> 00:22:58,160
Speaker 7: but he's put me in a really annoying situation. He's

490
00:22:58,200 --> 00:23:01,240
Speaker 7: also sent me back ten kay on my house deposit.

491
00:23:01,320 --> 00:23:03,080
Speaker 7: I would love your thoughts on this. Thank you.

492
00:23:03,520 --> 00:23:06,280
Speaker 2: Oh my gosh, honey, I am so sorry.

493
00:23:06,560 --> 00:23:08,520
Speaker 6: That's crazy.

494
00:23:08,840 --> 00:23:12,719
Speaker 2: That is a lot that is not no. When I

495
00:23:12,760 --> 00:23:15,160
Speaker 2: saw the topic, I was like, Oh, this will be interesting.

496
00:23:15,160 --> 00:23:18,359
Speaker 2: A surprise car. We don't listen to the voicemail until

497
00:23:18,359 --> 00:23:20,520
Speaker 2: we're on the show. Our producer does and obviously knows

498
00:23:20,520 --> 00:23:22,159
Speaker 2: that it's going to be a good one, but like

499
00:23:22,440 --> 00:23:25,320
Speaker 2: to get our authentic reactions, I don't answer no one

500
00:23:25,320 --> 00:23:27,600
Speaker 2: on the show here's it. Until then I think we're

501
00:23:27,640 --> 00:23:28,320
Speaker 2: all a bit like.

502
00:23:28,720 --> 00:23:31,159
Speaker 5: What Yeah, I think we're all kind of like speechless.

503
00:23:31,240 --> 00:23:33,439
Speaker 4: It just makes no sense that like, no, none of

504
00:23:33,560 --> 00:23:35,400
Speaker 4: Like she just kept saying things and I was like.

505
00:23:35,320 --> 00:23:39,399
Speaker 2: What, wait, it gets more, it gets worse. Oh my gosh,

506
00:23:39,480 --> 00:23:44,000
Speaker 2: that is honestly heartbreaking because it's obviously a challenging situation

507
00:23:44,200 --> 00:23:47,680
Speaker 2: for you. I am a bit shocked that he took

508
00:23:47,720 --> 00:23:50,840
Speaker 2: out alone to do that and then surprise like I

509
00:23:50,880 --> 00:23:52,680
Speaker 2: don't know, I'm trying to see it from their point

510
00:23:52,720 --> 00:23:54,480
Speaker 2: of view and put myself in their shoes, and they

511
00:23:54,520 --> 00:23:57,800
Speaker 2: probably really wanted to surprise you with a car, but

512
00:23:57,840 --> 00:23:59,520
Speaker 2: that's not how you do that.

513
00:23:59,600 --> 00:24:03,800
Speaker 4: Not not discussing what the spend will be, not letting

514
00:24:03,840 --> 00:24:06,560
Speaker 4: you know that there's injured, Like, there's just so many

515
00:24:06,600 --> 00:24:09,000
Speaker 4: things that I go, how.

516
00:24:08,520 --> 00:24:10,240
Speaker 2: Did this eventuately?

517
00:24:10,400 --> 00:24:11,119
Speaker 6: How did that make it?

518
00:24:11,240 --> 00:24:13,240
Speaker 4: Because I agree, like I'm sure that they probably were

519
00:24:13,240 --> 00:24:15,639
Speaker 4: like really excited to give you a I'm assuming at

520
00:24:15,640 --> 00:24:18,880
Speaker 4: that price point, probably a relatively new car, the big

521
00:24:18,920 --> 00:24:21,120
Speaker 4: bar on it for whatever. I'd be like, oh my gosh,

522
00:24:21,200 --> 00:24:23,240
Speaker 4: here you go like you can pay us back over time,

523
00:24:23,680 --> 00:24:26,960
Speaker 4: but like not factoring in the conversations around how much

524
00:24:27,040 --> 00:24:28,840
Speaker 4: and you know how long you've got to pay it

525
00:24:28,880 --> 00:24:31,600
Speaker 4: off on that sort of thing is It's just mind boggling.

526
00:24:31,640 --> 00:24:33,200
Speaker 5: But it will also just give you a shout out

527
00:24:33,200 --> 00:24:35,040
Speaker 5: because it sounds like even though.

528
00:24:35,080 --> 00:24:37,440
Speaker 2: She sounds so kind, right, she sounds kind.

529
00:24:37,240 --> 00:24:38,840
Speaker 5: But also the fact that you were able to still

530
00:24:38,840 --> 00:24:40,960
Speaker 5: save on top of that, like that would financially cripple me.

531
00:24:40,960 --> 00:24:43,760
Speaker 5: I'll be like, that's it for me, and I'm out,

532
00:24:44,119 --> 00:24:46,879
Speaker 5: and I'm never all my hopes and dreams of like

533
00:24:46,920 --> 00:24:48,960
Speaker 5: maybe owning an apartment one day, I'm like, I'm not

534
00:24:48,960 --> 00:24:50,040
Speaker 5: going to worry about that for the rest of my

535
00:24:50,040 --> 00:24:53,000
Speaker 5: life because I am financially cripple. That's stressful, right, that's stressful.

536
00:24:53,119 --> 00:24:55,439
Speaker 5: I couldn't like you've had the choice taken, not your

537
00:24:55,520 --> 00:24:58,480
Speaker 5: choice exactly exactly, and to be able to still save

538
00:24:58,520 --> 00:25:02,960
Speaker 5: on top of that is really really impressive. Absolutely, I

539
00:25:03,000 --> 00:25:05,840
Speaker 5: want to completely one hundred percent valid feelings.

540
00:25:05,520 --> 00:25:08,880
Speaker 2: Because your feelings are very that I get, I'll stress enough,

541
00:25:09,240 --> 00:25:11,679
Speaker 2: very very valid. I think this is coming from a

542
00:25:11,760 --> 00:25:15,680
Speaker 2: place of your dad having a lack of financial literacy

543
00:25:15,920 --> 00:25:19,160
Speaker 2: because making that decision doesn't come from someone who fully

544
00:25:19,160 --> 00:25:22,520
Speaker 2: comprehends how loans work and how that situation would eventuate.

545
00:25:23,119 --> 00:25:25,320
Speaker 2: And I obviously want to be able to see the

546
00:25:25,359 --> 00:25:27,679
Speaker 2: best in everybody. So I'm assuming that he thought this

547
00:25:27,840 --> 00:25:30,119
Speaker 2: was a really good idea for you, Like maybe he

548
00:25:30,119 --> 00:25:31,920
Speaker 2: thought you couldn't get the loan in your own name

549
00:25:31,920 --> 00:25:33,479
Speaker 2: and you were going to pay back the loan anyway,

550
00:25:33,520 --> 00:25:35,720
Speaker 2: and he didn't understand how the interest was going to

551
00:25:35,800 --> 00:25:38,160
Speaker 2: work on it, so it would cost more. And now

552
00:25:38,200 --> 00:25:41,200
Speaker 2: he's finally worked it out. Maybe he's feeling and I'm

553
00:25:41,200 --> 00:25:43,280
Speaker 2: not justifying this, but maybe he's feeling a bit embarrassed

554
00:25:43,280 --> 00:25:44,800
Speaker 2: and he's like, no, no, no, is your loan the whole

555
00:25:44,840 --> 00:25:47,679
Speaker 2: time because he can't afford to pay that. But at

556
00:25:47,720 --> 00:25:50,399
Speaker 2: the end of the day, I feel like this is

557
00:25:50,480 --> 00:25:55,160
Speaker 2: obviously a financial issue, but also a relationship issue, and

558
00:25:55,320 --> 00:25:59,120
Speaker 2: he's quite evasive of having that conversation. So is there

559
00:25:59,160 --> 00:26:02,399
Speaker 2: a way that you can, like, I don't know what

560
00:26:02,440 --> 00:26:05,200
Speaker 2: your ideal outcome is, so maybe sitting down and going, Okay,

561
00:26:05,240 --> 00:26:08,320
Speaker 2: the ideal outcome is my dad takes over that ten

562
00:26:08,359 --> 00:26:12,760
Speaker 2: thousand dollars of debt, or the ideal outcome is I

563
00:26:12,840 --> 00:26:16,800
Speaker 2: feel comfortable paying that or working out what your situation is.

564
00:26:17,040 --> 00:26:19,360
Speaker 2: And then maybe instead of trying to approach your dad

565
00:26:19,400 --> 00:26:21,720
Speaker 2: and being like, hey dad, can we talk about XYZ,

566
00:26:22,400 --> 00:26:25,560
Speaker 2: saying hey, maybe in a text, hey I want to

567
00:26:25,600 --> 00:26:28,040
Speaker 2: sit down and have a conversation about this when works

568
00:26:28,080 --> 00:26:30,119
Speaker 2: because I want to go through all the semantics and

569
00:26:30,280 --> 00:26:32,919
Speaker 2: just really nut out what this means and why this

570
00:26:33,040 --> 00:26:36,840
Speaker 2: happened and how it worked. Because sometimes when a conversation

571
00:26:37,040 --> 00:26:41,240
Speaker 2: like this comes up, money is hard to talk about.

572
00:26:41,359 --> 00:26:43,240
Speaker 2: We need to give people warning that we want to

573
00:26:43,280 --> 00:26:45,399
Speaker 2: talk about it. It's like if you've been listening to

574
00:26:45,480 --> 00:26:47,320
Speaker 2: this podcast for ages and you're like, Oh, I can

575
00:26:47,359 --> 00:26:49,000
Speaker 2: talk about money. This is so good, and then you

576
00:26:49,000 --> 00:26:51,119
Speaker 2: go to your partner who hasn't been listening to the

577
00:26:51,119 --> 00:26:54,280
Speaker 2: podcast and isn't ready, and then you're confused because you're like, hey,

578
00:26:54,400 --> 00:26:55,600
Speaker 2: just do you want to talk about this? And they're

579
00:26:55,600 --> 00:26:58,199
Speaker 2: like oh what no, and they get defensive and you're like,

580
00:26:58,200 --> 00:27:00,439
Speaker 2: wait what. It's just because they may we are not

581
00:27:00,520 --> 00:27:03,040
Speaker 2: ready for the conversation. I'm not saying that that makes

582
00:27:03,080 --> 00:27:05,280
Speaker 2: it better, but sometimes we need to give people warning

583
00:27:05,320 --> 00:27:08,840
Speaker 2: to have these conversations. The other option I would explore

584
00:27:08,920 --> 00:27:11,879
Speaker 2: is maybe having a written conversation that also gives you

585
00:27:11,920 --> 00:27:14,320
Speaker 2: a lot of time to ponder your responses and maybe

586
00:27:14,359 --> 00:27:16,440
Speaker 2: take the emotion out of it and just like jot

587
00:27:16,480 --> 00:27:19,360
Speaker 2: down how you're feeling and what that means, and like go, hey, Dad,

588
00:27:19,400 --> 00:27:21,560
Speaker 2: I'd love you to have a read of this and

589
00:27:21,640 --> 00:27:25,240
Speaker 2: respond like if that's something that could work. But I

590
00:27:25,280 --> 00:27:26,880
Speaker 2: wish I could be like, this is what you do.

591
00:27:27,640 --> 00:27:30,440
Speaker 2: But I don't think there's a right or wrong answer here.

592
00:27:30,760 --> 00:27:32,639
Speaker 2: At the end of the day, there should have been

593
00:27:32,680 --> 00:27:36,760
Speaker 2: a lot more communication about this situation, and now we're

594
00:27:36,800 --> 00:27:39,160
Speaker 2: in a pickle. What do you do? Back you said

595
00:27:39,200 --> 00:27:40,840
Speaker 2: you'd just be ruined and you bury your head in

596
00:27:40,840 --> 00:27:41,200
Speaker 2: the sand.

597
00:27:41,520 --> 00:27:44,040
Speaker 5: Yeah, I would, But it is tricky because I feel

598
00:27:44,040 --> 00:27:46,679
Speaker 5: like if it's like a relationship, like a yeah, like

599
00:27:46,720 --> 00:27:49,080
Speaker 5: a parent and child, and you obviously don't want to

600
00:27:49,080 --> 00:27:50,080
Speaker 5: like throw that away.

601
00:27:50,320 --> 00:27:52,320
Speaker 2: Oh, if a friend did that, we're done. But like

602
00:27:52,359 --> 00:27:54,720
Speaker 2: it sounds like you have a good relationship with your dad,

603
00:27:54,840 --> 00:27:57,240
Speaker 2: so it's not if a friend did that.

604
00:27:57,640 --> 00:28:01,000
Speaker 5: I think that would maybe be easier in a way

605
00:28:01,000 --> 00:28:02,680
Speaker 5: because it's like you're not throwing away the friendship, but

606
00:28:02,720 --> 00:28:04,919
Speaker 5: it's like you're obviously friends for a reason. You're obviously

607
00:28:05,000 --> 00:28:06,879
Speaker 5: friends because you have you share the same values and

608
00:28:06,880 --> 00:28:09,760
Speaker 5: stuff like that, and you probably could I know, it

609
00:28:09,760 --> 00:28:12,080
Speaker 5: sounds weird. You could probably get through to a friend easier,

610
00:28:12,080 --> 00:28:14,040
Speaker 5: like I'd be like, hey, like this, like let's let's

611
00:28:14,040 --> 00:28:14,440
Speaker 5: have a chat.

612
00:28:14,480 --> 00:28:15,919
Speaker 2: I don't want to know this friendship you know you'd be.

613
00:28:16,000 --> 00:28:18,280
Speaker 5: But when it's a parent, it's like there's a completely

614
00:28:18,640 --> 00:28:23,639
Speaker 5: different upbringing and dynamic and and maybe like your parents

615
00:28:23,640 --> 00:28:26,960
Speaker 5: of the older generation might not fully understand the financial

616
00:28:27,000 --> 00:28:30,439
Speaker 5: pressure of today's world, so there's a lot of differences.

617
00:28:30,480 --> 00:28:32,600
Speaker 5: But where whereas if it's like a friend or someone

618
00:28:32,640 --> 00:28:35,120
Speaker 5: like your age or around your age, you can kind

619
00:28:35,119 --> 00:28:37,439
Speaker 5: of explain that a little bit better. I think that personally,

620
00:28:37,440 --> 00:28:39,760
Speaker 5: I would just I wouldn't want to build a resentment.

621
00:28:39,800 --> 00:28:42,160
Speaker 5: I would feel like I would start feeling quite resentful, Like,

622
00:28:42,200 --> 00:28:44,840
Speaker 5: oh my god, you literally have changed, whether no matter

623
00:28:44,880 --> 00:28:48,160
Speaker 5: how small or big, You've changed the trajectory of my

624
00:28:48,240 --> 00:28:51,720
Speaker 5: life in a way that I didn't ask too. Yeah,

625
00:28:51,840 --> 00:28:54,240
Speaker 5: I didn't want. And I'm like trying to get on

626
00:28:54,280 --> 00:28:56,680
Speaker 5: top of things. And this is just like this thing

627
00:28:56,680 --> 00:28:59,160
Speaker 5: that I'm I am grateful for, but I also have

628
00:28:59,200 --> 00:29:03,560
Speaker 5: to be grateful for has kind of ruined a few

629
00:29:03,720 --> 00:29:06,520
Speaker 5: things about the way I saw my life going, and

630
00:29:06,600 --> 00:29:08,200
Speaker 5: no matter how big or small whatever, So it's like

631
00:29:08,200 --> 00:29:10,320
Speaker 5: it is a tricky one. I would say, I know,

632
00:29:10,320 --> 00:29:13,440
Speaker 5: we always like communic, communicate, but yes, I think saying

633
00:29:13,800 --> 00:29:15,960
Speaker 5: maybe your parents or your dad doesn't know it is

634
00:29:16,120 --> 00:29:18,640
Speaker 5: so deep for you, and maybe you've just got to

635
00:29:18,680 --> 00:29:20,680
Speaker 5: make it that deep, just be like on a human level.

636
00:29:21,080 --> 00:29:22,520
Speaker 5: I really want to talk about this because it is

637
00:29:22,560 --> 00:29:26,200
Speaker 5: actually affecting the way I communicate with you, affecting the

638
00:29:26,200 --> 00:29:28,960
Speaker 5: way I feel about seeing you. It's affecting all these things.

639
00:29:29,200 --> 00:29:31,640
Speaker 5: And I want to have a really good, strong relationship.

640
00:29:31,680 --> 00:29:34,040
Speaker 5: I want to maintain that, and I want you to

641
00:29:34,080 --> 00:29:36,360
Speaker 5: hear me and just make like, make it deep, make

642
00:29:36,400 --> 00:29:36,920
Speaker 5: it emotional.

643
00:29:37,280 --> 00:29:39,480
Speaker 2: And that's a really good take back. I really like it.

644
00:29:39,800 --> 00:29:42,400
Speaker 2: I feel like that's probably the best take good I've

645
00:29:42,440 --> 00:29:44,480
Speaker 2: heard on this table. We haven't heard just this like true.

646
00:29:44,520 --> 00:29:45,880
Speaker 2: It might be better that.

647
00:29:48,120 --> 00:29:51,000
Speaker 4: I completely agree about approaching it from like an empathetic

648
00:29:51,040 --> 00:29:53,560
Speaker 4: human side. I don't know if this is because I

649
00:29:53,600 --> 00:29:54,120
Speaker 4: haven't had a.

650
00:29:54,040 --> 00:29:57,160
Speaker 2: Car Loan the math isn't mathing to me, or it

651
00:29:57,240 --> 00:29:59,440
Speaker 2: can math in that situation.

652
00:29:59,240 --> 00:30:01,920
Speaker 4: Be alone at fifty percent interest.

653
00:30:02,240 --> 00:30:05,480
Speaker 2: Not fifty percent. He could have got like a payday

654
00:30:05,520 --> 00:30:07,560
Speaker 2: loan for the sick, could have been a really high

655
00:30:07,560 --> 00:30:10,120
Speaker 2: interest loan. It might not have been through like a

656
00:30:10,320 --> 00:30:14,000
Speaker 2: Tier one banking or lending partner. I'm going to make

657
00:30:14,040 --> 00:30:17,920
Speaker 2: some grand assumptions about the lack of financial literacy in

658
00:30:17,960 --> 00:30:21,200
Speaker 2: this situation and say that we were taken with it,

659
00:30:22,120 --> 00:30:24,320
Speaker 2: Like I was actually having this conversation the other day,

660
00:30:24,320 --> 00:30:27,080
Speaker 2: and I did some maths on my phone, completely separate,

661
00:30:27,080 --> 00:30:29,520
Speaker 2: but I think it will provide a bit of context

662
00:30:29,560 --> 00:30:32,040
Speaker 2: here that you may or may not be interested in.

663
00:30:32,960 --> 00:30:34,760
Speaker 2: So the other day, and this is just to talk

664
00:30:34,800 --> 00:30:37,920
Speaker 2: about I guess how a lack of financial literacy or

665
00:30:37,960 --> 00:30:41,600
Speaker 2: just like not getting it ends up ultimately impacting you

666
00:30:41,680 --> 00:30:45,240
Speaker 2: significantly financially. So the other day I was posting about

667
00:30:45,280 --> 00:30:48,000
Speaker 2: a company called before Pay, and this is their ad.

668
00:30:48,120 --> 00:30:50,560
Speaker 2: I'm just showing the girls. It says, repay only one

669
00:30:50,680 --> 00:30:55,720
Speaker 2: hundred and five dollars for every one hundred dollars you borrow, simple, right,

670
00:30:55,760 --> 00:30:58,400
Speaker 2: And then the ad goes on to say no interest,

671
00:30:58,560 --> 00:31:03,000
Speaker 2: no late fees. Like that sounds pretty good rights from me, right,

672
00:31:03,320 --> 00:31:06,080
Speaker 2: So you're implying yeah, so they're implying flat five dollar

673
00:31:06,160 --> 00:31:08,920
Speaker 2: loan fee, like if you're in a situation where you

674
00:31:09,040 --> 00:31:12,640
Speaker 2: need to access cash fast, or like get like your

675
00:31:12,680 --> 00:31:15,360
Speaker 2: pay today. I think that a lot of people would

676
00:31:15,440 --> 00:31:19,720
Speaker 2: find that really attractive and appealing. But if you go

677
00:31:20,560 --> 00:31:24,800
Speaker 2: and assume that that is five percent interest, you would

678
00:31:24,840 --> 00:31:28,160
Speaker 2: be incorrect because the example they have used is not

679
00:31:28,320 --> 00:31:31,760
Speaker 2: an annual interest rate, so they haven't annualized that. They've

680
00:31:31,800 --> 00:31:34,320
Speaker 2: just said, hey, if you borrowed one hundred dollars and

681
00:31:34,360 --> 00:31:36,520
Speaker 2: you paid it back within the month, it's a five

682
00:31:36,560 --> 00:31:39,360
Speaker 2: dollars fee, and that's great. But if you calculated an

683
00:31:39,400 --> 00:31:43,880
Speaker 2: effective annual rate, which is essentially taking that payment, dividing

684
00:31:43,920 --> 00:31:46,560
Speaker 2: it doing some maths. I can share with you guys

685
00:31:46,560 --> 00:31:48,640
Speaker 2: the maths if you want, or you can just google

686
00:31:48,680 --> 00:31:52,040
Speaker 2: effective annual rate formula and it will come up. But

687
00:31:52,160 --> 00:31:55,040
Speaker 2: when I did it, it actually comes out as an

688
00:31:55,120 --> 00:31:59,160
Speaker 2: effective annual rate of eighty one point six four percent

689
00:31:59,280 --> 00:32:02,560
Speaker 2: when it is viewed as interest. So even though beyond

690
00:32:02,720 --> 00:32:05,800
Speaker 2: pace fee is like a fixed amount of five dollars,

691
00:32:06,240 --> 00:32:10,120
Speaker 2: they are misleading you because if you extrapolate that out

692
00:32:10,160 --> 00:32:14,200
Speaker 2: to the entire year, it becomes an effective annual interest

693
00:32:14,280 --> 00:32:19,240
Speaker 2: rate of eighty one point six four percent, and the

694
00:32:19,320 --> 00:32:22,240
Speaker 2: rate kind of shows you that the cost of borrowing

695
00:32:22,280 --> 00:32:25,160
Speaker 2: over a short period of time is similar to a

696
00:32:25,200 --> 00:32:28,480
Speaker 2: pay loan and like short term credit. But then you

697
00:32:28,600 --> 00:32:31,320
Speaker 2: compare it to like I guess stand loans and credit

698
00:32:31,360 --> 00:32:33,600
Speaker 2: cards and the interest is so much higher, which is

699
00:32:33,640 --> 00:32:36,160
Speaker 2: why some of the people using this c the fees

700
00:32:36,160 --> 00:32:40,880
Speaker 2: as comparable taigh interest loans, or they are really comfortable

701
00:32:40,880 --> 00:32:42,400
Speaker 2: with it because they're like, oh, it was only five

702
00:32:42,440 --> 00:32:44,040
Speaker 2: dollars and they signed up to it, but then they

703
00:32:44,040 --> 00:32:45,960
Speaker 2: had it for a longer period of time and it

704
00:32:45,960 --> 00:32:47,800
Speaker 2: became an exorbitant amount of money.

705
00:32:48,400 --> 00:32:51,960
Speaker 5: Oh, so is that five dollars added every single So

706
00:32:52,600 --> 00:32:56,080
Speaker 5: it's more about taking that five dollars and extrapolating it

707
00:32:56,200 --> 00:32:59,640
Speaker 5: over the year so as an effective annual interest rate.

708
00:33:00,120 --> 00:33:02,680
Speaker 2: So if it is five percent, they would have just

709
00:33:02,680 --> 00:33:05,160
Speaker 2: said it's five percent because that's a good loan, like

710
00:33:05,400 --> 00:33:08,080
Speaker 2: a five percent personal loan. You don't get that personal

711
00:33:08,120 --> 00:33:11,000
Speaker 2: loan start at like fifteen percent. Credit cards go up

712
00:33:11,000 --> 00:33:14,240
Speaker 2: to twenty four percent here in Australia. So like they're

713
00:33:14,440 --> 00:33:18,240
Speaker 2: advertising something that feels a lot sexier, feels a lot

714
00:33:18,280 --> 00:33:22,520
Speaker 2: more obtainable. It's only five bucks back, it's not five

715
00:33:22,600 --> 00:33:25,440
Speaker 2: dollars it's not five percent, because if it was five percent,

716
00:33:25,640 --> 00:33:28,880
Speaker 2: I would be lining up borrowing money for five percent

717
00:33:29,080 --> 00:33:31,840
Speaker 2: and investing it in the share market, which on average

718
00:33:31,880 --> 00:33:35,480
Speaker 2: returns nine point two percent each and every single year

719
00:33:35,600 --> 00:33:38,280
Speaker 2: over the last thirty years and making bank. That is

720
00:33:38,360 --> 00:33:41,360
Speaker 2: not how that is working, because I'm telling you right now,

721
00:33:41,440 --> 00:33:44,720
Speaker 2: if that's how it worked, people with wealth and financial

722
00:33:44,720 --> 00:33:48,640
Speaker 2: literacy would abuse that system to make themselves even wealthier. Well,

723
00:33:48,800 --> 00:33:53,640
Speaker 2: but they are not, because that's not how it works. Okay,

724
00:33:54,240 --> 00:33:58,160
Speaker 2: So that kind of shows Jess that, like you're like, oh,

725
00:33:58,280 --> 00:34:01,480
Speaker 2: that math isn't mathing. They could have gotten caught up

726
00:34:01,600 --> 00:34:04,360
Speaker 2: in a bowing system or a scheme that made a

727
00:34:04,400 --> 00:34:05,800
Speaker 2: lot of sense, and they're like, oh, it's only an

728
00:34:05,800 --> 00:34:07,640
Speaker 2: annual fee of like three hundred andety five dollars, like

729
00:34:07,640 --> 00:34:09,399
Speaker 2: that's so fine. I can pay that. Then my daughter

730
00:34:09,440 --> 00:34:11,040
Speaker 2: is going to get this loan and it will be fine.

731
00:34:11,040 --> 00:34:13,239
Speaker 2: But they haven't looked into the terms and conditions and

732
00:34:13,320 --> 00:34:17,200
Speaker 2: how that actually works. So if you do the maths,

733
00:34:17,239 --> 00:34:19,840
Speaker 2: sometimes it doesn't work out, and you have to triple

734
00:34:19,880 --> 00:34:21,759
Speaker 2: check the maths because you're like, that can't be eighty one.

735
00:34:22,120 --> 00:34:24,400
Speaker 2: It can't be an effective annual interest rate of eight.

736
00:34:24,760 --> 00:34:27,120
Speaker 4: It is, yeah, I would say, and maybe it's the

737
00:34:27,200 --> 00:34:30,719
Speaker 4: skeptic in me, but if you are now effectively responsible

738
00:34:30,719 --> 00:34:32,480
Speaker 4: for this loan, I'd be asking to look at the

739
00:34:32,520 --> 00:34:34,480
Speaker 4: documents because it is a little I don't want to

740
00:34:34,520 --> 00:34:37,239
Speaker 4: be the person that like, it's your dad and I

741
00:34:37,280 --> 00:34:39,080
Speaker 4: know that you want to trust him and love him.

742
00:34:39,400 --> 00:34:42,000
Speaker 4: But at the same time, it's a little bit suspicious

743
00:34:42,040 --> 00:34:44,200
Speaker 4: to me that you're like, Wow, I've saved ten thousand

744
00:34:44,280 --> 00:34:47,160
Speaker 4: dollars and that is exactly the amount of money that

745
00:34:47,200 --> 00:34:48,279
Speaker 4: he owes on the interro.

746
00:34:49,080 --> 00:34:54,520
Speaker 2: Maybe I'm a no, you might show me. Yeah, I

747
00:34:54,560 --> 00:34:57,279
Speaker 2: did not even think it. Maybe Jess is the one

748
00:34:57,280 --> 00:34:59,320
Speaker 2: with a whole brain cell and then you and I

749
00:34:59,360 --> 00:35:01,000
Speaker 2: either share between.

750
00:35:00,640 --> 00:35:03,879
Speaker 4: Us, maybe we are while that's yeah, I just think

751
00:35:03,880 --> 00:35:06,000
Speaker 4: that and the way that you go about it, I

752
00:35:06,000 --> 00:35:08,120
Speaker 4: would still very much echo what you say, go about

753
00:35:08,120 --> 00:35:10,600
Speaker 4: it with kindness, but I think like you are very

754
00:35:10,719 --> 00:35:13,480
Speaker 4: much well within your rights if you are responsible effectively

755
00:35:13,560 --> 00:35:15,839
Speaker 4: for this loan. Yeah, to say, hey, like I'd really

756
00:35:15,880 --> 00:35:18,080
Speaker 4: like to look over the paperwork and understand how it

757
00:35:18,120 --> 00:35:20,919
Speaker 4: all worked, and like, you know, just you know, find

758
00:35:20,960 --> 00:35:22,920
Speaker 4: a way. Obviously, don't accuse anybody, but if you.

759
00:35:22,880 --> 00:35:25,160
Speaker 2: Could also, like just to add on to that, you

760
00:35:25,200 --> 00:35:28,040
Speaker 2: could also then call the lending facility and be like, hey,

761
00:35:28,080 --> 00:35:30,560
Speaker 2: I'm in this bit of a pickle situation. Didn't realize

762
00:35:30,719 --> 00:35:32,759
Speaker 2: what can we do? And if you actually have the

763
00:35:32,800 --> 00:35:35,040
Speaker 2: ten thousand dollars, this is like a money hack. I

764
00:35:35,080 --> 00:35:37,560
Speaker 2: suppose if you owed, like let's say you have a

765
00:35:37,560 --> 00:35:39,560
Speaker 2: credit card just of fifteen thousand dollars and you had

766
00:35:39,600 --> 00:35:42,239
Speaker 2: ten grand cash sitting in your bank account, you can

767
00:35:42,280 --> 00:35:44,360
Speaker 2: call them and be like, hey, I can get rid

768
00:35:44,400 --> 00:35:48,040
Speaker 2: of this entire debt today. I've got ten grand for you,

769
00:35:48,080 --> 00:35:50,200
Speaker 2: but you have to wipe the slate clean get rid

770
00:35:50,239 --> 00:35:53,160
Speaker 2: of that. I'm not saying they will every time, but

771
00:35:53,200 --> 00:35:55,480
Speaker 2: more often than not, a company is willing to take

772
00:35:55,520 --> 00:35:57,879
Speaker 2: a really big sum of money as a lump sum

773
00:35:57,920 --> 00:36:01,040
Speaker 2: payment and wipe off a bit of it because the

774
00:36:01,160 --> 00:36:04,360
Speaker 2: likelihood of them getting the entire amount is very low

775
00:36:04,480 --> 00:36:07,480
Speaker 2: and they love that so like I have seen lots

776
00:36:07,520 --> 00:36:10,160
Speaker 2: of people in our community renegotiated and not saying you'll

777
00:36:10,200 --> 00:36:12,640
Speaker 2: get five grand off, but I've seen people who have said, oh,

778
00:36:12,719 --> 00:36:15,279
Speaker 2: if I did this ten thousand dollar credit card, if

779
00:36:15,320 --> 00:36:17,239
Speaker 2: maxed it out, can I pay it all out for

780
00:36:17,320 --> 00:36:21,560
Speaker 2: eight grand today anyway, and they've said yes, So maybe

781
00:36:22,080 --> 00:36:24,040
Speaker 2: even if that is the case, and like, let's pretend

782
00:36:24,080 --> 00:36:26,360
Speaker 2: that your dad's story is absolutely legitimate and you do

783
00:36:26,440 --> 00:36:28,799
Speaker 2: have ten grand doing, maybe you could negotiate it down

784
00:36:28,840 --> 00:36:30,400
Speaker 2: a bit and just see what you can get back.

785
00:36:30,440 --> 00:36:32,520
Speaker 2: Because if you don't ask, you don't get that's so true.

786
00:36:32,560 --> 00:36:34,040
Speaker 2: That's a good way to ask your dad so that

787
00:36:34,080 --> 00:36:36,839
Speaker 2: he doesn't think that you're thinking dodgy.

788
00:36:36,600 --> 00:36:39,319
Speaker 4: Up him totally. But yeah, that's kind of my take

789
00:36:39,360 --> 00:36:41,920
Speaker 4: on it. Should we get into the DM for the week,

790
00:36:42,680 --> 00:36:45,239
Speaker 4: I'm so ready he is our DM of the week.

791
00:36:45,480 --> 00:36:47,520
Speaker 4: Heysha's on the money. I need some help because I'm

792
00:36:47,560 --> 00:36:50,319
Speaker 4: so confused right now. My partner recently moved in with me,

793
00:36:50,480 --> 00:36:52,759
Speaker 4: and since I own the house, the mortgages, or one

794
00:36:52,800 --> 00:36:55,120
Speaker 4: hundred percent of my name, I'm trying to figure out

795
00:36:55,120 --> 00:36:58,000
Speaker 4: what's fair for them to contribute. I want to be fair,

796
00:36:58,080 --> 00:37:01,680
Speaker 4: but I'm worried about creating a weird landlord tenant vibe

797
00:37:01,680 --> 00:37:04,719
Speaker 4: in our relationship. At the same time, I don't want

798
00:37:04,760 --> 00:37:07,520
Speaker 4: to end up carrying all the costs alone, because anyone

799
00:37:07,560 --> 00:37:10,480
Speaker 4: figured out a balance that works. How do I navigate

800
00:37:10,520 --> 00:37:14,319
Speaker 4: this without overthinking or feeling guilty, Please help a girl out.

801
00:37:16,000 --> 00:37:17,879
Speaker 4: I want to make Jess to it because like that's

802
00:37:17,920 --> 00:37:22,040
Speaker 4: her plan. Yeah, I think the just one should be

803
00:37:22,080 --> 00:37:24,160
Speaker 4: a big dog and own her own had. Yeah, twenty

804
00:37:24,160 --> 00:37:27,759
Speaker 4: five is going to be the everyone twenty twenty arrived baby.

805
00:37:28,200 --> 00:37:31,040
Speaker 4: So the way that I would plan on doing it

806
00:37:31,040 --> 00:37:32,759
Speaker 4: because a similar situation, I would be buying the house

807
00:37:32,760 --> 00:37:34,560
Speaker 4: one hundred pcent by myself. My partner would be living

808
00:37:34,600 --> 00:37:37,080
Speaker 4: with me. I would kind of treat it like a

809
00:37:37,120 --> 00:37:40,239
Speaker 4: rent situation, wherein he would pay market value rent and

810
00:37:40,280 --> 00:37:44,120
Speaker 4: I would be responsible for the upkeep, so you know,

811
00:37:44,200 --> 00:37:47,520
Speaker 4: your rates and things like that. I don't foresee that

812
00:37:47,640 --> 00:37:50,880
Speaker 4: being an issue because I mean, and it's going to

813
00:37:50,960 --> 00:37:53,680
Speaker 4: it's so personal to your relationship, right, But he's not

814
00:37:53,719 --> 00:37:55,000
Speaker 4: in a position to buy a house and I am.

815
00:37:55,040 --> 00:37:56,640
Speaker 4: And that's kind of the meat in the middle point

816
00:37:56,680 --> 00:37:59,440
Speaker 4: of making both of us happy. The one thing I

817
00:37:59,440 --> 00:38:02,280
Speaker 4: would say is if you are looking to split the expenses,

818
00:38:02,320 --> 00:38:04,360
Speaker 4: which is what our listener wrote in and said she

819
00:38:04,360 --> 00:38:06,799
Speaker 4: doesn't want to carry all of those things herself. Be

820
00:38:06,920 --> 00:38:09,840
Speaker 4: aware and again not to sound like the really skeptical

821
00:38:09,880 --> 00:38:11,279
Speaker 4: doom and gloom person.

822
00:38:11,040 --> 00:38:13,319
Speaker 2: But that's kind of us, Like that's our label. Yeah,

823
00:38:13,480 --> 00:38:15,720
Speaker 2: we are skeptics at our core totally.

824
00:38:17,040 --> 00:38:19,319
Speaker 4: I would say, just be aware that you are then

825
00:38:19,719 --> 00:38:24,640
Speaker 4: impacting I guess the divisibility of the asset should anything

826
00:38:24,640 --> 00:38:27,920
Speaker 4: go wrong, God forbid. But I am very much of

827
00:38:27,960 --> 00:38:30,480
Speaker 4: the opinion and the reason that I personally want to

828
00:38:30,560 --> 00:38:33,120
Speaker 4: structure you know, when I do buy house. So the

829
00:38:33,120 --> 00:38:34,919
Speaker 4: reason I want to structure it that way is because

830
00:38:34,920 --> 00:38:38,759
Speaker 4: the most important thing to me personally is ensuring that

831
00:38:38,800 --> 00:38:41,080
Speaker 4: my asset that I worked really hard to be able

832
00:38:41,160 --> 00:38:44,600
Speaker 4: to buy is protected. It's protected and remains my asset.

833
00:38:44,680 --> 00:38:47,040
Speaker 4: So once your partner and I'm not a lawyer, let

834
00:38:47,040 --> 00:38:48,680
Speaker 4: me preface this, aren't you.

835
00:38:48,640 --> 00:38:50,239
Speaker 6: Yeah, I would definitely chat for you.

836
00:38:50,320 --> 00:38:53,799
Speaker 2: Sure not. The last time I checked on your resume.

837
00:38:54,960 --> 00:38:56,440
Speaker 6: May have fluffed that one a little bit.

838
00:38:56,760 --> 00:38:59,920
Speaker 4: So you know, maybe talk to someone about what the options.

839
00:38:59,440 --> 00:39:01,800
Speaker 2: Are finding financial agreement.

840
00:39:02,040 --> 00:39:07,000
Speaker 4: Correct, Like, once you start co contributing to things, should

841
00:39:07,080 --> 00:39:10,080
Speaker 4: anything go wrong down the line, there is grounds for

842
00:39:10,120 --> 00:39:13,360
Speaker 4: an argument that they contributed and maybe entitled to a

843
00:39:13,440 --> 00:39:16,239
Speaker 4: portion of the probaby. So it's just something to keep

844
00:39:16,239 --> 00:39:18,239
Speaker 4: in mind. I know obviously, like we all love our

845
00:39:18,280 --> 00:39:20,360
Speaker 4: partners and we don't ever think that anything's going to

846
00:39:20,360 --> 00:39:22,319
Speaker 4: go wrong. And you know, maybe if you share all

847
00:39:22,360 --> 00:39:25,560
Speaker 4: of your finances, this may be a less relevant conversation

848
00:39:25,640 --> 00:39:26,840
Speaker 4: to you, but it's something that I want you to

849
00:39:26,920 --> 00:39:30,560
Speaker 4: consider because you know, knowing that you've worked so hard

850
00:39:30,560 --> 00:39:33,040
Speaker 4: and bought your house all by yourself, it's true proud

851
00:39:33,040 --> 00:39:34,880
Speaker 4: of you, and it's just something I want you to

852
00:39:34,960 --> 00:39:37,239
Speaker 4: keep in mind. Yeah, the way I would structure it

853
00:39:37,239 --> 00:39:40,120
Speaker 4: would be kind of to be tenant landlord, not officially obviously, Beau,

854
00:39:40,160 --> 00:39:41,479
Speaker 4: I don't want to be paying that money on tax,

855
00:39:41,520 --> 00:39:46,480
Speaker 4: but you know, I think that it shouldn't have to

856
00:39:46,520 --> 00:39:47,759
Speaker 4: impact your relationship.

857
00:39:47,760 --> 00:39:48,279
Speaker 2: And the way that I.

858
00:39:48,239 --> 00:39:49,960
Speaker 4: Would keep it from doing so would be kind of

859
00:39:50,000 --> 00:39:52,160
Speaker 4: just going okay, like you pay market value, look at

860
00:39:52,160 --> 00:39:54,719
Speaker 4: houses that are around you. Like if we were to

861
00:39:54,760 --> 00:39:56,719
Speaker 4: render house somewhere else, what would your half of that

862
00:39:56,760 --> 00:39:59,879
Speaker 4: rent be. That's what you're contributing to pay it off.

863
00:40:00,360 --> 00:40:02,640
Speaker 4: And I would hope that you guys, if you're in

864
00:40:02,640 --> 00:40:04,719
Speaker 4: a long term relationship and you're living together, can have

865
00:40:05,200 --> 00:40:07,560
Speaker 4: a good conversation about that, and if someone is feeling

866
00:40:07,560 --> 00:40:09,680
Speaker 4: a bit weird about something, you can chat it through

867
00:40:09,760 --> 00:40:12,520
Speaker 4: and come to a resolution. Like two full grown adults

868
00:40:12,840 --> 00:40:15,319
Speaker 4: in an ideal world, we all ride right, perfect.

869
00:40:15,040 --> 00:40:17,719
Speaker 2: Twelve, you know, but you're not wrong, Jess. And to

870
00:40:17,760 --> 00:40:20,680
Speaker 2: be like again a little bit of a skeptic. Fifty

871
00:40:21,200 --> 00:40:27,200
Speaker 2: of marriages and in divorce in Australia, that does scary

872
00:40:27,239 --> 00:40:31,240
Speaker 2: just the other in death. So I'm not sure questions.

873
00:40:31,840 --> 00:40:34,640
Speaker 2: I know right up with that, I feel like no

874
00:40:34,680 --> 00:40:37,759
Speaker 2: one gets married or like into a long term relationship

875
00:40:37,840 --> 00:40:39,640
Speaker 2: being like, do you know what, let's set ourselves up

876
00:40:39,640 --> 00:40:42,200
Speaker 2: financially so that if you leave me or if I

877
00:40:42,320 --> 00:40:45,839
Speaker 2: leave you, we're financially screwed. Does that sound good? Let's

878
00:40:45,880 --> 00:40:49,919
Speaker 2: do that? Like no one does that, but I feel like, yeah,

879
00:40:49,960 --> 00:40:52,880
Speaker 2: it's very personal. That is good advice, Jess Beck. What

880
00:40:52,960 --> 00:40:55,200
Speaker 2: would you do if you were moving in with your Jess?

881
00:40:55,440 --> 00:40:57,640
Speaker 5: Yeah, I mean well, I when I lived with my

882
00:40:57,680 --> 00:41:00,120
Speaker 5: best friend, she was like not really working much, she

883
00:41:00,200 --> 00:41:01,920
Speaker 5: had an injury, and I was working. So we did

884
00:41:01,960 --> 00:41:04,120
Speaker 5: like an equity thing where it's like she I think

885
00:41:04,160 --> 00:41:05,799
Speaker 5: I paid like two thirds and she paid one third,

886
00:41:05,960 --> 00:41:07,520
Speaker 5: and that did that felt right? So I feel like

887
00:41:07,520 --> 00:41:11,920
Speaker 5: I would just carry those exact same things into that

888
00:41:12,400 --> 00:41:14,200
Speaker 5: dynamic if I lived in with Jess, or I moved

889
00:41:14,200 --> 00:41:16,560
Speaker 5: in with a future partner or whoever, like it would

890
00:41:16,560 --> 00:41:18,879
Speaker 5: be very much. The same would be like if we're

891
00:41:18,920 --> 00:41:23,359
Speaker 5: making drastically different amounts, we would kind of like calculate that.

892
00:41:23,520 --> 00:41:25,640
Speaker 5: But I think when it comes to like, and this

893
00:41:25,719 --> 00:41:27,040
Speaker 5: is what I was going to ask you, Jess, like

894
00:41:27,360 --> 00:41:31,920
Speaker 5: furniture and food and utilities, if all that is split

895
00:41:31,960 --> 00:41:34,680
Speaker 5: down the middle, you're saying that they could.

896
00:41:35,360 --> 00:41:38,200
Speaker 2: Talking about so like if they're paying rates.

897
00:41:38,400 --> 00:41:40,600
Speaker 4: Yeah, so when you own a house, there's a number

898
00:41:40,640 --> 00:41:43,080
Speaker 4: of other feat So you have your annual rates that

899
00:41:43,120 --> 00:41:43,520
Speaker 4: you pay.

900
00:41:43,640 --> 00:41:46,480
Speaker 2: Okay, that's kind of utilities. No, No, so rates are

901
00:41:46,480 --> 00:41:49,840
Speaker 2: like council rates, land tax. You have to pay that

902
00:41:49,920 --> 00:41:52,840
Speaker 2: you've never had to pay back because as a renter

903
00:41:53,800 --> 00:41:56,600
Speaker 2: you don't even see that because legally, your landlord just

904
00:41:56,640 --> 00:42:00,359
Speaker 2: pays his like my assume it's a mail because live

905
00:42:00,400 --> 00:42:04,120
Speaker 2: love laugh. They pay that and legally they have to,

906
00:42:04,160 --> 00:42:07,200
Speaker 2: they can't pass that on to you. So these are

907
00:42:07,200 --> 00:42:09,160
Speaker 2: things that if you were like trying to get your

908
00:42:09,160 --> 00:42:12,000
Speaker 2: partner to split, they'd be like, well, I've been paying

909
00:42:12,000 --> 00:42:14,440
Speaker 2: for the maintenance and upkeep of this property, not just

910
00:42:14,480 --> 00:42:14,960
Speaker 2: for rent.

911
00:42:15,400 --> 00:42:20,160
Speaker 4: Oh if your air conditioner broke, for example, yeah, and

912
00:42:20,200 --> 00:42:23,080
Speaker 4: you split that, you would go, well, they've contributed to

913
00:42:23,320 --> 00:42:27,600
Speaker 4: the up whereas furniture, someone can take take that rosary

914
00:42:27,880 --> 00:42:29,759
Speaker 4: bills and stuff that's totally sick and make.

915
00:42:29,719 --> 00:42:33,880
Speaker 5: Them by the really big I think even without that knowledge,

916
00:42:33,920 --> 00:42:37,359
Speaker 5: it would just be like for me, I would automatically

917
00:42:37,440 --> 00:42:39,839
Speaker 5: be paying for anything that a landlord would pay for,

918
00:42:39,920 --> 00:42:42,399
Speaker 5: like yeah, you know your maintenance, Yeah, yes, yes, yes,

919
00:42:42,440 --> 00:42:44,600
Speaker 5: So that's like almost like a default for me. But

920
00:42:44,640 --> 00:42:48,640
Speaker 5: when it comes like rent and contributing to the inside

921
00:42:48,680 --> 00:42:51,280
Speaker 5: of the house, that would all be split down the middle.

922
00:42:51,280 --> 00:42:53,160
Speaker 5: But then the rent would probably be like, yeah, an

923
00:42:53,160 --> 00:42:54,240
Speaker 5: equity kind of situation.

924
00:42:54,320 --> 00:42:56,640
Speaker 2: Is that my using with them? Yeah, that's that's good.

925
00:42:56,760 --> 00:42:59,200
Speaker 2: I feel like if I were to do it, I

926
00:42:59,200 --> 00:43:02,080
Speaker 2: would actually take my partner completely out of the situation

927
00:43:02,320 --> 00:43:04,560
Speaker 2: and pretend he didn't exist for a hot second to

928
00:43:04,600 --> 00:43:07,480
Speaker 2: live my best single life. No, I would I would

929
00:43:07,520 --> 00:43:09,840
Speaker 2: sit down and go, Okay, cool, so I've bought a house.

930
00:43:09,960 --> 00:43:11,799
Speaker 2: This is my house. I'm going to pretend that there's

931
00:43:11,840 --> 00:43:14,799
Speaker 2: a spare their dream I'm renting out. What would I

932
00:43:14,880 --> 00:43:17,239
Speaker 2: do in that situation and go down your route Jess

933
00:43:17,239 --> 00:43:19,319
Speaker 2: and be like, well, what would fair market rent be

934
00:43:19,360 --> 00:43:21,480
Speaker 2: for a beddreom in my house? Okay, maybe it's like

935
00:43:21,480 --> 00:43:23,920
Speaker 2: three hundred dollars. Okay, no way's it's three hundred dollars

936
00:43:23,960 --> 00:43:26,560
Speaker 2: a week. If I got a housemate to live in

937
00:43:26,600 --> 00:43:28,040
Speaker 2: my house, how would I do bills?

938
00:43:28,160 --> 00:43:28,399
Speaker 4: Oh?

939
00:43:28,440 --> 00:43:31,480
Speaker 2: Well, because we you know, maybe leave in a body corporate.

940
00:43:31,600 --> 00:43:33,399
Speaker 2: I have to pay all the water, but like they

941
00:43:33,400 --> 00:43:36,239
Speaker 2: can split the rest of it. Or okay, well, I'd

942
00:43:36,320 --> 00:43:38,680
Speaker 2: never pass on rates because my housemate would never have

943
00:43:38,719 --> 00:43:41,680
Speaker 2: to pay rates. I would probably just go what's the

944
00:43:41,760 --> 00:43:44,319
Speaker 2: housemate rule? If that makes sense, even if you are

945
00:43:44,360 --> 00:43:46,359
Speaker 2: sharing it, and then all of the fluff can happen

946
00:43:46,400 --> 00:43:48,400
Speaker 2: on top of that. I Am going to take it

947
00:43:48,440 --> 00:43:51,520
Speaker 2: one step further though, and like maybe have a little

948
00:43:51,560 --> 00:43:54,400
Speaker 2: rental agreement with my partner, even if it's one that

949
00:43:54,480 --> 00:43:56,399
Speaker 2: I've just emailed to them and been like, hey, here's

950
00:43:56,400 --> 00:43:58,000
Speaker 2: the rental agreement. This is how much you have to

951
00:43:58,000 --> 00:44:00,000
Speaker 2: pay me per month. This is how much should be

952
00:44:00,000 --> 00:44:02,880
Speaker 2: direct debited into my account, just to get everything sorted

953
00:44:02,920 --> 00:44:05,759
Speaker 2: and make it really easy and clean, and just in

954
00:44:05,800 --> 00:44:08,239
Speaker 2: that email, like it's not an official rental agreement, but

955
00:44:08,280 --> 00:44:10,160
Speaker 2: maybe you could do that if you're crazy like me.

956
00:44:10,280 --> 00:44:13,320
Speaker 4: Does that then have tax implications if you're officially.

957
00:44:12,880 --> 00:44:16,840
Speaker 2: I mean technically, if you are receiving rent. You should

958
00:44:16,840 --> 00:44:19,120
Speaker 2: be paying rental income full stop. End of story. That

959
00:44:19,200 --> 00:44:23,520
Speaker 2: is all I will comment on that. But if it

960
00:44:23,600 --> 00:44:25,880
Speaker 2: was me, I would want to pay portrayal. I'm not

961
00:44:25,880 --> 00:44:28,120
Speaker 2: submitting this to the government. I'm not sharing it with

962
00:44:28,160 --> 00:44:32,720
Speaker 2: the tax man. I am putting it into our inboxes

963
00:44:32,760 --> 00:44:35,520
Speaker 2: so that if ever one day we split up, I

964
00:44:35,520 --> 00:44:38,040
Speaker 2: can be like, oh, actually, Jess, here's our rental agreement.

965
00:44:38,080 --> 00:44:40,160
Speaker 2: You don't own half my house. To remember when it

966
00:44:40,320 --> 00:44:42,719
Speaker 2: literally said, because I own the whole house, and we'll

967
00:44:42,719 --> 00:44:45,920
Speaker 2: continue to own the whole house. Like that stuff, even

968
00:44:45,960 --> 00:44:49,360
Speaker 2: though it's not super official, will stick and carry weight

969
00:44:49,520 --> 00:44:53,120
Speaker 2: because you emailed it, it was timestamped, it's official. Does

970
00:44:53,160 --> 00:44:55,600
Speaker 2: that make sense? Will tax come after you? And be like, okay,

971
00:44:55,640 --> 00:44:58,640
Speaker 2: well now that I mean, yes, I'm probably not. Like

972
00:44:59,440 --> 00:45:01,799
Speaker 2: I feel like if your partner was going for half

973
00:45:01,840 --> 00:45:03,880
Speaker 2: your house, you'd be very happy to pay tax on

974
00:45:03,920 --> 00:45:07,080
Speaker 2: the rent come you received. So that's the route I'd

975
00:45:07,120 --> 00:45:10,440
Speaker 2: be going down and just documenting everything like oh, we'll

976
00:45:10,440 --> 00:45:13,600
Speaker 2: split all utilities and we'll split groceries. But like, that's

977
00:45:13,640 --> 00:45:15,719
Speaker 2: also just a good idea in general to have this

978
00:45:15,840 --> 00:45:18,239
Speaker 2: finance conversation when you're moving in here to someone like

979
00:45:18,360 --> 00:45:20,520
Speaker 2: understand if I'm moving in, we do you bet? Like

980
00:45:20,560 --> 00:45:24,360
Speaker 2: what's the expectations? Like olive oil eggy exorbitant right now?

981
00:45:24,480 --> 00:45:26,919
Speaker 2: Like are we splitting that? Do you use olive oil?

982
00:45:27,040 --> 00:45:29,120
Speaker 2: Like are you going to use mine? Like, let's have

983
00:45:29,200 --> 00:45:32,359
Speaker 2: the conversation so nothing awkward happens, because Jess, I remember

984
00:45:32,400 --> 00:45:34,400
Speaker 2: you talking about your old housemate to just used all

985
00:45:34,440 --> 00:45:35,120
Speaker 2: your condiments.

986
00:45:35,320 --> 00:45:37,400
Speaker 4: Yeah, yeah, all my laundry powder.

987
00:45:37,719 --> 00:45:43,280
Speaker 2: Yeah yeah, And I know that because it's so emotional

988
00:45:43,440 --> 00:45:45,839
Speaker 2: she just told me before. But like, we'll have these

989
00:45:45,880 --> 00:45:48,600
Speaker 2: conversations before we move in, So that's what I would

990
00:45:48,600 --> 00:45:51,759
Speaker 2: be doing. And yeah, the community had a lot to

991
00:45:51,800 --> 00:45:55,880
Speaker 2: say they did. So we asked the community, obviously, we

992
00:45:55,920 --> 00:45:58,399
Speaker 2: want to know your two cents. We said, how would

993
00:45:58,440 --> 00:46:01,560
Speaker 2: you work out costs in this situation? Twenty four percent

994
00:46:01,640 --> 00:46:02,759
Speaker 2: said fifty percent.

995
00:46:02,520 --> 00:46:05,520
Speaker 4: Of the mortgage They pay fifty percent of them, Yeah,

996
00:46:05,560 --> 00:46:08,160
Speaker 4: which I feel like that makes sense if you are

997
00:46:08,360 --> 00:46:11,280
Speaker 4: fully combining finances. I would, just, like I said before,

998
00:46:11,360 --> 00:46:14,120
Speaker 4: be aware that in that case, the house is not

999
00:46:14,280 --> 00:46:15,920
Speaker 4: solely your asset any longer.

1000
00:46:16,280 --> 00:46:19,400
Speaker 2: But people don't often know that, right, Like they go, oh, well,

1001
00:46:19,560 --> 00:46:22,080
Speaker 2: it costs me one thousand dollars a week to live here,

1002
00:46:22,080 --> 00:46:24,239
Speaker 2: so it has to cost you five hundred Like, yeah,

1003
00:46:24,320 --> 00:46:26,799
Speaker 2: that sure might not be market rates for what that

1004
00:46:26,920 --> 00:46:29,760
Speaker 2: room's going for, so you need to be careful. Forty

1005
00:46:29,800 --> 00:46:33,399
Speaker 2: two percent said market value rent, and then thirty four

1006
00:46:33,400 --> 00:46:35,279
Speaker 2: percent of you said, I would actually base it on.

1007
00:46:35,200 --> 00:46:38,200
Speaker 4: Income, lovely, a little bit of everything in that.

1008
00:46:38,200 --> 00:46:40,360
Speaker 2: Little bit of everything. Then we said what about costs

1009
00:46:40,400 --> 00:46:43,480
Speaker 2: like repairs and maintenance, So twenty four percent of you said,

1010
00:46:43,520 --> 00:46:46,040
Speaker 2: the owner is going to pay for everything, thirty one

1011
00:46:46,040 --> 00:46:49,200
Speaker 2: percent of you said, split everything evenly, and then forty

1012
00:46:49,280 --> 00:46:52,400
Speaker 2: five percent of you said, owner pays for repairs, and

1013
00:46:52,440 --> 00:46:55,279
Speaker 2: then you share upkeep, which I think is fair.

1014
00:46:55,480 --> 00:46:57,720
Speaker 5: Yes, yes, yes, up keep, up keep, upkeep.

1015
00:46:57,800 --> 00:47:00,759
Speaker 2: I see. So yeah, Like if there's gardening costs, I

1016
00:47:00,840 --> 00:47:04,319
Speaker 2: understand you would pay that as a renter, so yes,

1017
00:47:04,520 --> 00:47:06,480
Speaker 2: that's you could do gardening yourself.

1018
00:47:06,719 --> 00:47:07,120
Speaker 6: Yeah.

1019
00:47:07,239 --> 00:47:09,279
Speaker 2: Anyway, we then said to the community, all right, we

1020
00:47:09,320 --> 00:47:11,239
Speaker 2: want to know your two cents and you gave us

1021
00:47:11,360 --> 00:47:15,920
Speaker 2: your peace of mind. So first person said, instead of

1022
00:47:15,960 --> 00:47:18,200
Speaker 2: sharing the mortgage, the partner could pay for all the

1023
00:47:18,200 --> 00:47:19,520
Speaker 2: groceries and the utilities.

1024
00:47:19,640 --> 00:47:20,440
Speaker 4: Another great option.

1025
00:47:20,800 --> 00:47:21,000
Speaker 7: Yep.

1026
00:47:21,080 --> 00:47:23,719
Speaker 2: I feel like that's good because then you don't have

1027
00:47:23,800 --> 00:47:27,960
Speaker 2: that conversation about that income sitch. Someone else said, a

1028
00:47:28,000 --> 00:47:30,920
Speaker 2: binding financial agreement to protect yourself from him making a

1029
00:47:30,920 --> 00:47:34,640
Speaker 2: claim on your asset. Yes, someone else said exactly. I

1030
00:47:34,680 --> 00:47:39,680
Speaker 2: mean I would never suggest a binding financial agreement someone else.

1031
00:47:44,200 --> 00:47:48,200
Speaker 2: It would be b FA across my forehead. Someone else said,

1032
00:47:48,280 --> 00:47:50,719
Speaker 2: unless he has an equity share, maintenance and repairs have

1033
00:47:50,800 --> 00:47:54,440
Speaker 2: to sit with the owner. Another person said, be careful

1034
00:47:54,520 --> 00:47:58,000
Speaker 2: on ownership of de facto, though I'd make it clear

1035
00:47:58,120 --> 00:48:02,320
Speaker 2: in writing before moving in. And that's where I really

1036
00:48:02,440 --> 00:48:05,560
Speaker 2: like the idea of an email. Maybe this is just

1037
00:48:05,640 --> 00:48:09,200
Speaker 2: me being a business owner and having dealt with lawyers previously.

1038
00:48:10,160 --> 00:48:13,719
Speaker 2: Lawyers love an email because it is time stamped. You

1039
00:48:13,760 --> 00:48:16,279
Speaker 2: can't fake an email, like to be able to go

1040
00:48:16,440 --> 00:48:19,239
Speaker 2: into someone's account and be like, oh well, actually, on

1041
00:48:19,280 --> 00:48:21,799
Speaker 2: the twenty first of November, I sent you XYZ and

1042
00:48:21,840 --> 00:48:25,000
Speaker 2: you replied this, And that's a clear example of you

1043
00:48:25,200 --> 00:48:28,759
Speaker 2: understanding the situation and agreeing to it. Like, I'm not

1044
00:48:28,840 --> 00:48:32,359
Speaker 2: saying that that will forever be legal, but like it's

1045
00:48:32,360 --> 00:48:35,160
Speaker 2: a really good starting point and it doesn't cost you

1046
00:48:35,200 --> 00:48:38,680
Speaker 2: anything to send an email. Someone else said, register them

1047
00:48:38,719 --> 00:48:40,200
Speaker 2: as a tenant in case you break.

1048
00:48:40,040 --> 00:48:42,600
Speaker 5: Up, fairy.

1049
00:48:42,719 --> 00:48:45,760
Speaker 2: Another person said, I charged my partner enough to cover bills,

1050
00:48:46,120 --> 00:48:47,640
Speaker 2: which was one hundred dollars a week, and then we

1051
00:48:47,680 --> 00:48:50,839
Speaker 2: got a section twenty one prenup. Oh yeah, yeah, yeah,

1052
00:48:51,040 --> 00:48:54,160
Speaker 2: so this person must be from America. Someone else said,

1053
00:48:54,719 --> 00:48:57,960
Speaker 2: if you enter in this is a two partera. Someone said,

1054
00:48:58,200 --> 00:49:01,920
Speaker 2: too harder. So if you enter into a mortgage by yourself,

1055
00:49:01,920 --> 00:49:04,640
Speaker 2: surely you were prepared to pay for it all yourself.

1056
00:49:05,280 --> 00:49:07,839
Speaker 2: I'd feel weird if my partner expected me to pay

1057
00:49:08,320 --> 00:49:11,239
Speaker 2: to repair their house that they picked out without me

1058
00:49:11,360 --> 00:49:15,440
Speaker 2: and will sell and profit on without me. I actually

1059
00:49:15,480 --> 00:49:17,880
Speaker 2: I thought I didn't think of yeah, but you're gonna

1060
00:49:17,920 --> 00:49:20,279
Speaker 2: sell the air conditioner, bro, and I'm not going to

1061
00:49:20,320 --> 00:49:22,160
Speaker 2: see a dollar from that air conditioner.

1062
00:49:23,239 --> 00:49:25,120
Speaker 4: It really comes back to like your view on finances,

1063
00:49:25,160 --> 00:49:27,120
Speaker 4: because there's some people who are like, very what's mine

1064
00:49:27,160 --> 00:49:30,360
Speaker 4: is yours? Like, if you're in there all in half half,

1065
00:49:30,840 --> 00:49:31,400
Speaker 4: that wouldn't be.

1066
00:49:32,520 --> 00:49:34,719
Speaker 5: It means, if you're buying two bedroom because you have

1067
00:49:34,880 --> 00:49:37,560
Speaker 5: another person that you assume you're gonna live with forever, then.

1068
00:49:37,400 --> 00:49:39,040
Speaker 4: That's different kids or something like that.

1069
00:49:39,080 --> 00:49:39,839
Speaker 2: Yeah, But if you get.

1070
00:49:39,760 --> 00:49:43,359
Speaker 5: Yourself a one bedroom that you've chosen for yourself, then

1071
00:49:43,400 --> 00:49:44,160
Speaker 5: maybe that's different.

1072
00:49:44,160 --> 00:49:45,200
Speaker 2: Actually I didn't think about that.

1073
00:49:45,280 --> 00:49:45,799
Speaker 5: I don't know.

1074
00:49:46,320 --> 00:49:48,760
Speaker 2: I don't know. I'm obviously in a different situation. I'm married,

1075
00:49:48,760 --> 00:49:51,960
Speaker 2: I have a kid, Like, my circumstances are different. But

1076
00:49:52,040 --> 00:49:53,800
Speaker 2: like I can I pretend to be Jess for a

1077
00:49:53,800 --> 00:49:57,000
Speaker 2: hot second, please look at me. I'm still pretty. But

1078
00:49:57,040 --> 00:50:01,200
Speaker 2: if I'm pretending to be Jess hypothetically, like, you have

1079
00:50:01,400 --> 00:50:04,520
Speaker 2: a good income, you can pay a mortgage. But it,

1080
00:50:04,640 --> 00:50:06,440
Speaker 2: like I would say, it's a stretch. You've got your

1081
00:50:06,480 --> 00:50:08,319
Speaker 2: partner living with you, so that's going to take some

1082
00:50:08,360 --> 00:50:12,839
Speaker 2: pressure off because they're contributing financially. But if you broke up.

1083
00:50:13,800 --> 00:50:16,239
Speaker 2: In my head when I was purchasing that property, I'd

1084
00:50:16,280 --> 00:50:18,600
Speaker 2: probably be thinking, okay, cool, Like I'm purchasing it, my

1085
00:50:18,640 --> 00:50:20,839
Speaker 2: partner's going to move in, leave love love, like we're

1086
00:50:20,840 --> 00:50:23,759
Speaker 2: going I live happily forever. But I'd low key want

1087
00:50:23,800 --> 00:50:26,239
Speaker 2: to have a separate bedroom in that house. So if

1088
00:50:26,280 --> 00:50:28,319
Speaker 2: my partner ever moved out, I could rent it out

1089
00:50:28,360 --> 00:50:30,480
Speaker 2: and I could have a little bit more financial freedom,

1090
00:50:30,480 --> 00:50:34,040
Speaker 2: because I like, I'm assuming that the entire mortgage on

1091
00:50:34,080 --> 00:50:37,839
Speaker 2: its own would be financially restrictive. Can you afford it? Yes,

1092
00:50:37,840 --> 00:50:40,440
Speaker 2: I know you can afford it, but affording it and

1093
00:50:40,480 --> 00:50:44,080
Speaker 2: affording your life style of different things. So often when

1094
00:50:44,080 --> 00:50:45,800
Speaker 2: I talk to and you guys know, I own a

1095
00:50:45,840 --> 00:50:48,920
Speaker 2: mortgage broken company. I literally have these conversations all the time.

1096
00:50:49,400 --> 00:50:52,520
Speaker 2: Often if I'm talking to especially women, because obviously I'm

1097
00:50:52,560 --> 00:50:55,840
Speaker 2: passionate about this, about purchasing their first home, and they're like, oh,

1098
00:50:55,880 --> 00:50:57,759
Speaker 2: it's a one bedroom, my partner's moving in with me.

1099
00:50:58,920 --> 00:51:02,480
Speaker 2: I do ask, would that if they moved out financially

1100
00:51:02,480 --> 00:51:05,480
Speaker 2: restrict you, Like, what would that look like? And sometimes

1101
00:51:05,520 --> 00:51:07,680
Speaker 2: they say, oh, I hadn't thought about that. I would

1102
00:51:07,680 --> 00:51:09,080
Speaker 2: have to move out and rent it out. And like

1103
00:51:09,239 --> 00:51:12,319
Speaker 2: maybe they're happy with that solution, but if you're not

1104
00:51:12,400 --> 00:51:14,799
Speaker 2: happy with that solution, sometimes you do have to think

1105
00:51:14,800 --> 00:51:17,080
Speaker 2: about Okay, cool, Like I'm buying a three bedroom house

1106
00:51:17,120 --> 00:51:20,520
Speaker 2: because I don't want housemates, but like, if something happens,

1107
00:51:20,840 --> 00:51:24,480
Speaker 2: I could get some housemates and financially I wouldn't be crippled. Yeah, Like,

1108
00:51:24,800 --> 00:51:27,120
Speaker 2: I'm not saying that's your ideal outcome, Jess, but like

1109
00:51:27,239 --> 00:51:28,799
Speaker 2: having it in the back of your head that you

1110
00:51:28,880 --> 00:51:33,040
Speaker 2: could create a level of financial security to me is important.

1111
00:51:33,239 --> 00:51:35,760
Speaker 5: Hope for the best, but prepare for the worst absolutely

1112
00:51:36,239 --> 00:51:37,280
Speaker 5: fantastic sentiment.

1113
00:51:37,440 --> 00:51:40,680
Speaker 2: And then I have a last one. You guys are

1114
00:51:40,680 --> 00:51:43,879
Speaker 2: going to be very surprised by this person said, get

1115
00:51:43,920 --> 00:51:50,120
Speaker 2: a BFA in place. So yeah, anyway, I don't have

1116
00:51:50,160 --> 00:51:53,120
Speaker 2: any thoughts or feelings. I believe so face it has

1117
00:51:53,160 --> 00:51:55,239
Speaker 2: been really good. I loved this episode. Do you know

1118
00:51:55,280 --> 00:51:56,880
Speaker 2: what I love though? The fact that we are at

1119
00:51:56,880 --> 00:51:58,880
Speaker 2: the Australian Open today.

1120
00:52:00,040 --> 00:52:02,480
Speaker 8: Hi, if you're here, plea, please please please.

1121
00:52:02,640 --> 00:52:04,400
Speaker 2: I don't want to see any of those messages that

1122
00:52:04,440 --> 00:52:06,919
Speaker 2: we sometimes get after events where you're like, oh my gosh,

1123
00:52:07,000 --> 00:52:08,719
Speaker 2: I saw you, but I was too scared to come up,

1124
00:52:08,920 --> 00:52:10,719
Speaker 2: Like no, we're more scared of you than you are

1125
00:52:10,800 --> 00:52:14,120
Speaker 2: of us. Please come say hi, y, please come and

1126
00:52:14,160 --> 00:52:16,400
Speaker 2: say hello. We are going to have the best day anyway.

1127
00:52:16,719 --> 00:52:19,200
Speaker 2: That is it from us. Have a good weekend. We

1128
00:52:19,280 --> 00:52:21,800
Speaker 2: will see you brighton early on Monday. For a money

1129
00:52:21,800 --> 00:52:31,279
Speaker 2: diaryes by Guys by the advice shared on She's on

1130
00:52:31,320 --> 00:52:33,960
Speaker 2: the Money is general in nature and does not consider

1131
00:52:34,040 --> 00:52:37,960
Speaker 2: your individual circumstances. She's on the Money exists purely for

1132
00:52:38,120 --> 00:52:40,960
Speaker 2: educational purposes and should not be relied upon to make

1133
00:52:41,000 --> 00:52:44,279
Speaker 2: an investment or financial decision. If you do choose to

1134
00:52:44,280 --> 00:52:47,560
Speaker 2: buy a financial product, read the pds TMD and obtain

1135
00:52:47,640 --> 00:52:52,040
Speaker 2: appropriate financial advice tailored towards your needs. Victoria Divine and

1136
00:52:52,160 --> 00:52:55,600
Speaker 2: She's on the Money are authorized representatives of money. Sirper

1137
00:52:55,719 --> 00:52:59,560
Speaker 2: Pty Ltd ABN three two one is six four nine

1138
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Speaker 2: two seven seven zero eight a f s L four

1139
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Speaker 2: five one two eight nine