Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it. She's on the Money.
Speaker 3: She's on the Money.
Speaker 2: Hello, and welcome to She's on Them, the podcast for
Speaker 2: millennials who want financial freedom. Today, my friends, it is
Speaker 2: a Friday. It is one of our favorite days of
Speaker 2: the week, so it is time to get my little
Speaker 2: team together and celebrate you, our gorgeous She's on the
Speaker 2: Money community today ms Greed. She is going to be
Speaker 2: sharing her favorite money wins. Beck Sayed, who is very husky,
Speaker 2: is going to be sharing her best broke tips, and
Speaker 2: we're going to be helping to answer juicy money dilemma,
Speaker 2: which this week is all about deciding how to funnel
Speaker 2: your savings. Then on the other side of the show,
Speaker 2: we are going to be unpacking something you slid into
Speaker 2: our DMS about this week. We're talking about Christmas gift etiquette.
Speaker 2: Before we get any further into the show, misters Gricci,
Speaker 2: how is your week been going? Ah? I oh no,
Speaker 2: I feel like I feel like this year you're so
Speaker 2: ready to write off?
Speaker 3: Yeah, I was gonna say, I think I'm just tearing
Speaker 3: on the edge of a mental breakdown. But aren't we
Speaker 3: all at this time of year? Right?
Speaker 2: Ah? Yes, absolutely, like I'm done with this year. Twenty
Speaker 2: twenty three can get in the bin. I'm so ready
Speaker 2: for twenty twenty four. Agree. I just yeah, I'm a
Speaker 2: bit done. Me too.
Speaker 3: I riached my pants this morning and I just really like,
Speaker 3: how how would you go on that thing that.
Speaker 2: Happened to you?
Speaker 3: On my butt? And I'm so upset because these are
Speaker 3: my favorite Alice Kadie Abounds, you should color the.
Speaker 2: Bum's like, yeah, they're free broke tips. She's like, color
Speaker 2: You're spinning with a permanent marker and you won't be
Speaker 2: able to see it's a giving season.
Speaker 4: I'm gonna they're.
Speaker 3: Brown, not black.
Speaker 2: Though that's the only get a different text of Jesse Carr.
Speaker 3: If anyone in the office has a brown textile, I'll borrow.
Speaker 2: I will slide into lskt's and be like, Hi, So
Speaker 2: those brown flare leggings that you used to make.
Speaker 3: I think they don't sell them anyone that's do you have?
Speaker 2: I know they don't sell them anymore because I wanted
Speaker 2: a pair and they're sold out. But I'll slide into
Speaker 2: their dams and be like, excuse me, do you have
Speaker 2: any floating around to the office. Do you have a
Speaker 2: staff member that was gifted them and doesn't wear them
Speaker 2: enough to deserve to keep them?
Speaker 3: Yeah, they're secondhand.
Speaker 2: Yeah, we don't even care. I can stitch them up
Speaker 2: for you, chim, but I feel like leggings stitched up is.
Speaker 2: It's hard, but we can definitely do it anyway. How
Speaker 2: are your pants back?
Speaker 5: My pants are currently stained as usual, but otherwise.
Speaker 2: Wholeless houllless they are. I'm impressed.
Speaker 4: I'm really sorry.
Speaker 5: In advance to everyone listening, I've lost my voice. I
Speaker 5: think it's what you had.
Speaker 2: For I think bronchitis is definitely going around.
Speaker 4: I think so.
Speaker 2: I mean, I'm I'm going to say I sounded even
Speaker 2: better than you did.
Speaker 4: I usually love a husky voice, but I read it.
Speaker 4: I don't know if I like this one.
Speaker 2: No no, no no. I like I sounded worse. Like I
Speaker 2: wasn't trying to say, oh, I sounded so sexy. I
Speaker 2: actually sounded like a demonic demon that's hot.
Speaker 6: Yeah.
Speaker 2: Like, I was trying to get through the week the
Speaker 2: other week and Maddie called me in the morning and
Speaker 2: I was like, Hey, this is what we're going to
Speaker 2: do today, like any questions. Farra and I started talking
Speaker 2: and she's like, right, I'm calling you on producer because
Speaker 2: there's no way you're allowed on the show. And I
Speaker 2: was like, but I want to go here, and she
Speaker 2: was like, absolutely not. You don't even sound sexy. You
Speaker 2: sound disgusting. And I was like, you know what, I
Speaker 2: appreciate an honest team.
Speaker 4: That's fair.
Speaker 5: Yeah, but my week's been otherwise good. I feel like
Speaker 5: my symptoms physically, I'm not really there. I literally just
Speaker 5: have no voice, and so what do I do with myself?
Speaker 5: But the week's been great. You know, it's it's festive season.
Speaker 2: I'm feeling so excited and so so festive, so festive.
Speaker 4: How about you Pe.
Speaker 2: I'm honestly same as jess I mean probably haven't been
Speaker 2: thrown under the buses many times by the world as
Speaker 2: jess in the last year.
Speaker 4: You know what I did.
Speaker 2: At least you're acknowledging it, Like I don't know what
Speaker 2: you did in a past life that it was bad. Juju, Jessica,
Speaker 2: why is it happening right now? Literally at the end,
Speaker 2: it's all compounding.
Speaker 3: Giving me a mental breakown the gator rates.
Speaker 2: In the microwave with you. My week has been good,
Speaker 2: you know, the lead up to Christmas, I feel like
Speaker 2: there's a a lot of pressure to have already organized
Speaker 2: all your Christmas presents, like I'm seeing it on TikTok
Speaker 2: and like, don't get me wrong, like I haven't organized
Speaker 2: all of my Christmas presents yet. But in my head,
Speaker 2: leaving Christmas shopping to the last minute actually means doing
Speaker 2: all your Christmas shopping like Sunday, so like the day
Speaker 2: boxing Christmas or like you know, on Christmas Eve. Like
Speaker 2: to me, that's last minute if you're buying presents in
Speaker 2: the week leading up to Christmas, Like, mate, you're prepared.
Speaker 2: In my head, you're prepared. That's organized. So I feel
Speaker 2: like there's a lot of I don't know. I'm on
Speaker 2: TikTok and they're like, if you haven't organized all your
Speaker 2: presence by now, you're behind. I'm like, so I'm blocking you.
Speaker 2: I don't need that type of energy right now.
Speaker 4: No.
Speaker 2: Yeah.
Speaker 4: Also personally, I'm not doing gifts.
Speaker 2: Also, I am the gift bye exactly that. No physical gifts,
Speaker 2: no physical gifts from you. I don't think so I
Speaker 2: rate that. Yeah, I think, I think. I think that's great.
Speaker 4: Maybe Chocky's at most.
Speaker 2: Yeah, well you gave us the chockey before, which was very,
Speaker 2: very nice. We'll talk about that later in the show though,
Speaker 2: because we're going to talk about Christmas gift etiquette and
Speaker 2: I would love to know your thoughts on that. But
Speaker 2: before we get there, that's the other half of the show. Guys,
Speaker 2: stop getting ahead of yourself too excited. We get to
Speaker 2: hear from miss Jesz Gricci what her favorite community money
Speaker 2: wins were. So, jess what money wins? All confessions have
Speaker 2: you got to share this week?
Speaker 3: Starting off with a slightly self indulgent one from Anna
Speaker 3: which Sally money win. It's taking me the better part
Speaker 3: of this year. But I finally listened to every she's
Speaker 3: on the Money and Business Bible episode. I've made so
Speaker 3: many changes in my life with more to come next
Speaker 3: year to put myself and my children in a far
Speaker 3: better financial standing, adore.
Speaker 2: But also, I'm so sorry you had to go through that.
Speaker 3: Well, don't Anna.
Speaker 2: That is a lot of ep that is so that's
Speaker 2: like five hundred plus episode, so many episodes.
Speaker 3: Incredible work. Next, I've got one from Rebecca who said
Speaker 3: I did a huge Christmas grocery shop today and I
Speaker 3: spent no money. I redeemed my Flatbys points which I've
Speaker 3: been collecting for the year to pay for it after
Speaker 3: saving over three hundred dollars worth. And then she gave
Speaker 3: us a cheeky pro tip to get a one pass
Speaker 3: membership because you get free shipping and bonus fly byes
Speaker 3: points at Kmart, Bunnings, et cetera. And it adds up
Speaker 3: really quickly. Who fix lay.
Speaker 4: That's incredible.
Speaker 3: Next, I've got one from Domenica, and I kind of
Speaker 3: just have questions because she said.
Speaker 2: You're like, I have questions. This is why it's going
Speaker 2: on the show.
Speaker 3: I'm gonna have questions too. She said, I picked up
Speaker 3: three extra shifts at work, which was an extra three
Speaker 3: thousand dollars.
Speaker 2: I'm sorry what you're.
Speaker 3: I have questions, Dominica, are you recruiting because.
Speaker 2: Jessica is currently doing what are you doing? Just a
Speaker 2: thousand dollar challenge at the moment on TikTok, which is
Speaker 2: very cool, very creative. I'm also like, excuse me, are
Speaker 2: you not getting paid enough if she's on the money.
Speaker 2: But okay, so she's trying to save one thousand dollars
Speaker 2: in the next month, she could just do one of
Speaker 2: Domenica's shifts.
Speaker 3: Yes, literally, here's me trying to be creative and I'm
Speaker 3: recycling bottles and returning like I'm trying.
Speaker 2: Like she's to God, which we honestly respect, mad respect.
Speaker 2: But and then is like, oh, yeah, by the way,
Speaker 2: I do that in one shift at work. Wow, America,
Speaker 2: you can't just drop that and then not tell us
Speaker 2: what you do for work, because I cannot think of
Speaker 2: a job that has one thousand dollars shift that you
Speaker 2: can just pick up if you want chess.
Speaker 4: Yeah, sobe an announcer.
Speaker 3: Yeah, I'm going to head back to that to announcer.
Speaker 4: Like a radio announcer.
Speaker 3: Maybe are you famous?
Speaker 2: Famous?
Speaker 3: We're gonna We're gonna go back to the comments, because
Speaker 3: I'm sure Dominica is gonna let us know what Dominica
Speaker 3: and I'll be spliating into her tms.
Speaker 2: Can you not slide into Jessica's dms? I actually want
Speaker 2: to keep her.
Speaker 3: On the team. Next, I've got a money in from Phoebe,
Speaker 3: who said, I didn't order any of you, but it's
Speaker 3: last week.
Speaker 4: Good for you, simple.
Speaker 3: But a good one.
Speaker 2: I can't relate.
Speaker 4: I love that.
Speaker 2: No, I correlate this time.
Speaker 3: Movie up. Sorry, all bets are out the window. Next,
Speaker 3: I've got a money in from Sanade, who said, win,
Speaker 3: I got three squish mellows at the Salvos for two
Speaker 3: dollars instead of paying thirty five dollars each. At the shops,
Speaker 3: everyone's happy.
Speaker 2: Just do you remember last year when we were shopping
Speaker 2: Christmas shopping together and we could not find the squish
Speaker 2: mellow she wanted. Yes, we went to like every single
Speaker 2: shop finding squish meallows feel. I think it was your nace.
Speaker 4: And what's a squish mellow.
Speaker 2: It's like a giant toy.
Speaker 3: They're like squishy, flushy toy.
Speaker 5: Cute.
Speaker 4: Okay, they look like a marshmallow.
Speaker 3: Yeah, kind they do all different. This is such a
Speaker 3: side note, they do all different characters. I've ended up
Speaker 3: on jelly Cat TikTok is anyone else there?
Speaker 2: I'm a Jellycat Christmas tree.
Speaker 3: I want to do what's so bad? So jelly Cats
Speaker 3: are like a booge as toy and they do these
Speaker 3: like really fun They're adorable. I'll show you a phone
Speaker 3: like fifty bucks toy soft toy. They do a marshmallow
Speaker 3: That's what I think that they do, like the set
Speaker 3: of marshmallow twins that are really cute. They do little croissants.
Speaker 4: Oh, I love that was showing us right now. That's
Speaker 4: very cute.
Speaker 3: But it's one of those things that great gift would
Speaker 3: not pay full price for it. But just want to
Speaker 3: say said, I highly rate the idea of getting your
Speaker 3: gifts at the shop for Christmas.
Speaker 2: That's genius. Agreed, that's absolutely genius. Yes, what else have
Speaker 2: you got, Jess?
Speaker 3: That's actually I thought a good one to wrap it
Speaker 3: up with Christmas Christmas win.
Speaker 2: Love, great love all right, Beck, you gave us the
Speaker 2: broke tip earlier of just coloring in your skin when
Speaker 2: you rip your leggings, and that was really really good.
Speaker 3: One that I will in fact probably take you up on.
Speaker 2: Yes, but I'm not actually going to be letting you
Speaker 2: use that as you're one of three today. So what
Speaker 2: broke tips you bringing to the table this week?
Speaker 5: Okay, so I'm going to do my very best and
Speaker 5: sorry in advance for the listeners who are so sick
Speaker 5: in my voice right now.
Speaker 3: No, they all love it. We're assuming they love it.
Speaker 5: Okay, we're assuming they love it. So my first one
Speaker 5: comes from Saz, who says, the grass is currently seating
Speaker 5: right now, so you can mo it scatter the seeds
Speaker 5: on patchy parts of your lawn and it works really well.
Speaker 5: That's something I never knew.
Speaker 2: That's something I would make my husband do.
Speaker 5: Yes, be honest, the feminism leaves my body when things.
Speaker 3: Are That is my boyfriend's dot. We have this argument
Speaker 3: every week because I'm like, the lawn needs to be married,
Speaker 3: and he's like, okay, well then mow the lawn just
Speaker 3: to be like annoying because he's like, well when you're
Speaker 3: gonna do you know what I mean?
Speaker 2: And I'm like, well, I would actually write because I
Speaker 2: know how much housework just does, so I'd be like, really,
Speaker 2: we're gonna play this game.
Speaker 3: He knows that the lawn is his job. I'm like,
Speaker 3: that is in our household. It's just not mine, that's
Speaker 3: all I know.
Speaker 2: I'm a staunch feminist, Like, I'm just like, nah, there's
Speaker 2: no such thing as men and women jobs, like absolutely
Speaker 2: not equal pay all of that. You guys, I'm assuming
Speaker 2: no me well enough by now to know my thoughts
Speaker 2: on that. The second you step inside my house, we
Speaker 2: have pink and blue jobs. Yeah, I will not take
Speaker 2: out the bin. I will not be mowing the lawns,
Speaker 2: doing anything to clean the back deck. Are you joking? Sorry,
Speaker 2: that's not in my wheelhouse. That's a blue job. A
Speaker 2: blue job, I mean technically I have to because you know, okay, yeah,
Speaker 2: how does that work in a same sex couple. Well, oh,
Speaker 2: you just have to take for the team and actually
Speaker 2: mow the lawn.
Speaker 4: Yeah, which really sucks. Or you just call the dude
Speaker 4: to do it.
Speaker 2: Yeah, that's smart.
Speaker 4: That's when the feminism.
Speaker 2: Leaves your body. That's okay, I'm alright with that. Yeah,
Speaker 2: it's a really good tip though. Thank you, Yes, I
Speaker 2: mean well, thank you sas. The next one comes from Emily,
Speaker 2: who says that the Hungry Jacks app have a shaken
Speaker 2: win game where you get two chances to win something
Speaker 2: or get it cheap, like a cheeseburger nuggets, which is
Speaker 2: like obviously you know. Again, as I always say, like
Speaker 2: sometimes if you don't have money you're literally just trying
Speaker 2: to survive, or if you're trying to treat yourself low budget,
Speaker 2: you know, whatever your.
Speaker 5: Situation might be. Yeah, this is really this is a
Speaker 5: great idea, so you might have like a free burger
Speaker 5: one day or a freemast awesome.
Speaker 4: I just think it's really cool. Am I actually down
Speaker 4: with this?
Speaker 2: I think you should download it and try it. One
Speaker 2: of my favorite things in the entire world is actually
Speaker 2: this this niche Jessica, I think it was you and
Speaker 2: I recently Sammy recently discovered this Hungry Jack's chips slap
Speaker 2: Oh they're so good. Why are they so good? So
Speaker 2: like I don't know how to explain it, but if
Speaker 2: we were talking about like how skinny a McDonald's french
Speaker 2: fry is, and then how fat a KC Chip is,
Speaker 2: it's in the middle.
Speaker 4: It's in the middle.
Speaker 2: It's in the middle. Yeah, I don't know, but it's
Speaker 2: wizardry and they are really good. They really good niche
Speaker 2: because I don't think many people are like, oh, yeah,
Speaker 2: Hungry Jacks is my favorite fast food. Yeah, I've never
Speaker 2: heard anyone say that, but chips are the best, and
Speaker 2: the vegan burgers a vegan burgers are actually good, good,
Speaker 2: really good. We're not even paid by Hungry Jacks. But
Speaker 2: honestly not yet, Hungry Jacks. If you wanted to pay us,
Speaker 2: would it burgers on the show?
Speaker 3: I would be very okay with that.
Speaker 2: Yeah too, because we're all okay, real hungry, just like, oh.
Speaker 4: It's end of year, we're all a little bit sick.
Speaker 2: Let's we're recording and I'm literally, guys just sitting here thinking, oh,
Speaker 2: I wonder if the cafe downstairs, because under our studio
Speaker 2: there is a cafe called Little Nookie, which we are
Speaker 2: like so cute, but they do these feta and pumpkin
Speaker 2: like little egg muffins and beck, you saw me eating
Speaker 2: one the other day and it was really really good,
Speaker 2: and I have dreamt about them since there is going
Speaker 2: to be an actual riot if I go down there
Speaker 2: and there's none, fair I really want to see that. Yeah, Okay, wellay, coffee, Yeah,
Speaker 2: I will literally flip the table or something like. I
Speaker 2: hope so I'm pregnant, I'm hungry and you said I
Speaker 2: could have pumpkin it's the.
Speaker 3: End of your energy.
Speaker 4: But we would be like, you can't lift anything heavy,
Speaker 4: we'll flip the table.
Speaker 2: For yay, so good, all right, Beck, what is your
Speaker 2: broke tip?
Speaker 4: Okay?
Speaker 5: So my one I actually was inspired by Jessica Richie.
Speaker 5: At this time I recycling bottles and cans, and now
Speaker 5: in Victoria we can do that. So I'm taking a
Speaker 5: page out of your book. And also my mum, when
Speaker 5: we lived in Sydney together, would go and do this
Speaker 5: occasionally and honestly we'd rack up like ten twenty dollars, which.
Speaker 2: Is enough if you see, that's such a good money
Speaker 2: in it's so good, and that's a whole bloody dinner.
Speaker 1: It is.
Speaker 5: It's sometimes even like, depending on your situation, if you're
Speaker 5: like a single person, that could be a week's worth
Speaker 5: of food for you exactly. So I think this is, yeah,
Speaker 5: just such a rate like way to recycle and make
Speaker 5: money and buy yourself some groceries.
Speaker 3: Can I cudd on to it? Yes, I would say,
Speaker 3: like collecting the bottles, ask people around you, because at
Speaker 3: this time of year, people have bottles and cans they
Speaker 3: want to get rid of they're hosting parties and they're recycling.
Speaker 3: So if you go to a friend's house and they're
Speaker 3: do a thing and you're helping cleaning to take all
Speaker 3: of the recycling home for you, Yeah, like I just
Speaker 3: be like I'm doing the recycling thing. It's really fun.
Speaker 3: I'm loving it. Like do you want to take your cans?
Speaker 3: And nine times out of ten they'll say yes. Also,
Speaker 3: the workplace, people don't want to have to take the
Speaker 3: work bin out. So if you have a recycling bin.
Speaker 2: I already came. I already told Jessica we should be
Speaker 2: going in to the studio's kitchen and putting her own
Speaker 2: bin in there for cans and bottles and then just
Speaker 2: collecting it when we come into record.
Speaker 3: Scavenged through like a little raccoon. Don't be ashamed because like.
Speaker 2: You don't be ashamed to be a raccoon.
Speaker 3: No, true, a recycling raccoon. You're doing good for them
Speaker 3: as really cute. I are super cute. I'm not mad
Speaker 3: about being a raccoon.
Speaker 2: But when we were in America and we're talking to
Speaker 2: people about raccoons, because I didn't get to see one,
Speaker 2: and I was really sad. I did see a squirrel
Speaker 2: and I cried squirrel. Oh my gosh, Beck, it was
Speaker 2: the best moment of my entire life. But I said
Speaker 2: I wanted to see a raccoon because I was like,
Speaker 2: those are really cute. And every American that I said
Speaker 2: that to would give me side eye and be like,
Speaker 2: what is wrong with you? Why would you want to
Speaker 2: see a like a bin bear? What is wrong with you?
Speaker 3: It's like their version of bin chicken.
Speaker 2: Yeah, They're like, why would you want to see a
Speaker 2: bin bear? And I'm like, ah, have you seen them? Like,
Speaker 2: they're very cute.
Speaker 4: They are really cute.
Speaker 2: Well, Beck, those are good broke chips.
Speaker 4: Thank you so much.
Speaker 2: I like that. Let's go to a really quick break
Speaker 2: and on the flip side, we're going to be talking
Speaker 2: about how to decide where to funnel your savings, and
Speaker 2: then we're going to get into Christmas gift etiquette, what
Speaker 2: it means, how it works, and talk about a little
Speaker 2: spicy question one of you wrote in for us about
Speaker 2: that topic. So guys, don't go anywhere.
Speaker 3: Welcome back, everybody. Let's take a listen to this week's
Speaker 3: money dilemma.
Speaker 2: Hi, there, have you got a money dilemma? You just
Speaker 2: can't solve the Shees on the Money team is here
Speaker 2: to help.
Speaker 7: Every week, we tackle your dilemmas, both big and small,
Speaker 7: to answer your most burning money, career and life questions.
Speaker 7: To get involved, simply head to our website and leave
Speaker 7: us a short voice recording and you might just find
Speaker 7: yourself on the show.
Speaker 2: Now, let's take a listen to this week's money dilemma.
Speaker 6: Hi, she is on the Money. My partner and I
Speaker 6: are about to purchase a home, and we're thinking about
Speaker 6: how to best use the money available each week for savings. Now,
Speaker 6: it's not going towards a house deposit at this stage.
Speaker 6: It's about five hundred dollars a week, and we'd like
Speaker 6: to use some of it to make extra mortgage repayments
Speaker 6: and some of it to set up an investment portfolio.
Speaker 6: We don't have any consumer debt, and we do have
Speaker 6: an emergency fund. My question is how do we make
Speaker 6: a decision about splitting money between investing and extra mortgage repayments.
Speaker 6: My partner would like to put most of the money
Speaker 6: on the mortgage, but I'm worried about making sure we
Speaker 6: put enough in investments, as we are already in mid
Speaker 6: thirties and don't yet have an investment portfolio, and I
Speaker 6: want to make sure we are setting ourselves up for
Speaker 6: the future. Really looking forward to hearing your thoughts.
Speaker 5: Luckily, for this one, I can rest my voice because
Speaker 5: I assume vickied, how's the answers?
Speaker 2: No, never, what would you do?
Speaker 3: I mean it's value based spending, right. Partially, I feel
Speaker 3: like you would have to. Ideally you'd do the math,
Speaker 3: so you'd look at maybe our favorite compound interest calculator
Speaker 3: on the money Smart website and chuck in how much
Speaker 3: you could potentially earn on investing over thirty years or
Speaker 3: however long the term of your mortgage is, and then
Speaker 3: you would compare that to how much interest you would
Speaker 3: save by making those extra mortgage repayments, right, which is like.
Speaker 2: The practicem just not needed on this show.
Speaker 4: Yeah, it's fine, but.
Speaker 3: It comes down to values. I feel like, yeah, you'd say, right.
Speaker 2: So I'll just see myself walk downstairs. Yeah, if that's okay,
Speaker 2: no worries. Can I grab my bag before I leave
Speaker 2: it to you?
Speaker 5: Thank you?
Speaker 2: Could you just pack up my desk? Yes, I'll be
Speaker 2: really gentle with all the plants.
Speaker 4: Come promise anything.
Speaker 3: I don't know how to work out the mortgage. Interesting though,
Speaker 3: so you can't grow?
Speaker 2: Sorry? Oh okay, well I finally have value in life.
Speaker 2: You are absolutely correct. It's really about values based spending.
Speaker 2: And what it sounds like is your values are building
Speaker 2: an investment portfolio, and your husband's values are paying down
Speaker 2: the mortgage. And I think we, actually, before we talk
Speaker 2: about returns, need to step back a little bit and go, well,
Speaker 2: why does he have I guess, not a fixation, but
Speaker 2: where his values coming from when he says he wants
Speaker 2: to pay down the mortgage, because obviously that feels very
Speaker 2: financially secure. So you know, Jess, I can almost guarantee
Speaker 2: this is just a values thing, knowing her when she
Speaker 2: has her mortgage, she's going to prioritize her mortgage guaranteed
Speaker 2: over the share market because that's what's going to make
Speaker 2: her feel safe and secure. And they know Jess well
Speaker 2: enough to know those are her values. Those could be
Speaker 2: your husband's values, and that's great. But we need to
Speaker 2: talk about this and also respect it because it's not
Speaker 2: quote which one is better. Let's ask she's on the money.
Speaker 2: They'll know I can tell you on paper which one
Speaker 2: is better. Investment portfolio, hands down. The average annual return
Speaker 2: over a thirty year period for the Australian share market
Speaker 2: right now is nine point two percent. Your average mortgage
Speaker 2: is sitting at about five So if we go, is
Speaker 2: getting a five percent return because I paid off more
Speaker 2: of my mortgage better than getting a nine point two
Speaker 2: percent return. Jessica the math maths and tells us that technically,
Speaker 2: on paper, the best return for your cash holder is
Speaker 2: the nine point two percent. However, that doesn't mean that
Speaker 2: it aligns to your goals and your values and your
Speaker 2: financial security and what you're trying to achieve. Maybe one
Speaker 2: of your big financial goals, like jess is, is to
Speaker 2: own your own property. And I can almost guarantee she
Speaker 2: wants to own that outright pretty quickly. Am I on
Speaker 2: the right track there?
Speaker 3: Jess Yeah, I think so. I think it's for me.
Speaker 3: It would just be a security.
Speaker 2: It's the third security, it's not a out. Not knowing
Speaker 2: the maths like just invests now. And I think she
Speaker 2: wouldn't stop. No, but I think that you would, you know,
Speaker 2: really prioritize making sure that mortgage is smashed down and
Speaker 2: it's out of your hair. For you, it's always been
Speaker 2: about like having your own home.
Speaker 3: But interest is a bit sickening when you look at
Speaker 3: like if you run the numbers on how much extra
Speaker 3: you pay, Like, I get that you have to, there's
Speaker 3: no way out of it, but oh makes me feel ill.
Speaker 2: Yeah, don't even start me like it's it's terrifying. But
Speaker 2: I think really understanding what that looks like. You've got
Speaker 2: some extra you know, cash flow. That's fantastic. But what
Speaker 2: are we doing now? You mentioned you already have an
Speaker 2: emergency fund. I'm glad you did, because that obviously would
Speaker 2: have been the first thing that I spoke about.
Speaker 3: She preempted you, she knew what you were gonna say you.
Speaker 2: But also, is your emergency fund working hard for you?
Speaker 2: Is it like offsetting any of the interest on your mortgage?
Speaker 2: Where's your emergency fund sitting? Is it just sitting where
Speaker 2: you used to have your emergency fund before you had
Speaker 2: a mortgage? What does that look like? How can we
Speaker 2: make that money work as hard for us as we
Speaker 2: did for it? So then after that we're looking at,
Speaker 2: you know, do we go into an investment portfolio, do
Speaker 2: we go into a mortgage? And to be honest, because
Speaker 2: there's two people in this relationship, we kind of need
Speaker 2: to always have compromise, So having a deep conversation with
Speaker 2: your husband about well, why are you prioritizing this. Let's
Speaker 2: have a look at the numbers. What does that look like?
Speaker 2: Maybe he's just never invested before and didn't realize what
Speaker 2: that looked like. Do what Jess said, go on the
Speaker 2: Money Smart website and have a look at that compound
Speaker 2: interest calculator. There are also so many calculators online for
Speaker 2: mortgage repayments, so you could google free mortgage repayment calculator
Speaker 2: and see what that money would shave off your mortgage.
Speaker 2: How many years is that going to take? If you're
Speaker 2: in the ses on the Money Money masterclass, girl, I
Speaker 2: already did it for you. It's built into the spreadsheet
Speaker 2: because I'm just really smart. Bit she's so smart, Oh
Speaker 2: a spreadsheet. I definitely do not have any tickets on
Speaker 2: myself either, So like, that's really good. You always want
Speaker 2: to work with people who are super humble. That's so important.
Speaker 2: But yeah, I would have a look at, well, what
Speaker 2: would it look like. Let's pretend you have an extra
Speaker 2: three hundred dollars a month. What would an extra three
Speaker 2: hundred dollars a month actually take off our mortgage? Versus
Speaker 2: what would it look like in an investment portfolio? What
Speaker 2: are the returns? But also when will you finish your mortgage?
Speaker 2: Because if you're planning on finishing your mortgage and chucking
Speaker 2: every single dollar to that, are you then only starting
Speaker 2: your investment journey in twenty five or thirty years? If so,
Speaker 2: how much time do you have for that to compound?
Speaker 2: Or you know, if it's three hundred bucks a month,
Speaker 2: could we split it? Could we potentially go half half again?
Speaker 2: As Jess was saying, it is values based, it's not
Speaker 2: often logic based, because money is inherently emotional. That's my
Speaker 2: Ted talk. Thanks for coming.
Speaker 4: You're so welcome.
Speaker 2: You've been a stellar guest.
Speaker 4: You so much.
Speaker 3: Notarious along, but I really want to get to this.
Speaker 2: Yeah, because you're like a Christmas fery.
Speaker 3: Yes, and it's a good one this week, not that
Speaker 3: it isn't every week. It's a good one every week.
Speaker 2: But also anything that has anything to do with Christmas,
Speaker 2: like Jess's ears, just she's having a bad day, be
Speaker 2: like Jess or remember Christmas exists, and she's like, I
Speaker 2: don't even care that my house flooded. Yeah, I love Christmas?
Speaker 2: All right, Guys, here is the DM we received. Hello,
Speaker 2: she's on the money. I have a Christmas dilemma for you.
Speaker 2: So my siblings and I have put one hundred dollars
Speaker 2: spending limit on presents for each other this year. However,
Speaker 2: my sister has come back and requested more of a demand,
Speaker 2: if I'm being brutally honest, that we just transfer her
Speaker 2: the one hundred dollars rather than buying herself a.
Speaker 4: Gift with it.
Speaker 2: Now, I don't know if it's just me, but this
Speaker 2: doesn't sit right. I'm more than happy to be in
Speaker 2: the Christmas spirit and spend the money on a nice
Speaker 2: present that I think she would love, but I don't
Speaker 2: really want to transfer one hundred dollars. It feels like
Speaker 2: I'm just giving my money away. She said she doesn't
Speaker 2: want or need any gifts and would just much prefer
Speaker 2: the cash. She also said she would return my present
Speaker 2: and get a refund so she can have the cash
Speaker 2: if I gave her one. I think she's being super ungrateful,
Speaker 2: but I mentioned it to my friend and she just
Speaker 2: said if cash is what she needs, it's not rude
Speaker 2: to ask for that over a gift. Now I'm not
Speaker 2: sure what to think. What are your thoughts on this.
Speaker 3: This is what we were talking about a couple of
Speaker 3: weeks ago with wedding gifts, and I said the same thing.
Speaker 3: I was like, I get why people ask for money,
Speaker 3: but for some reason, something in me feels a little
Speaker 3: bit uncomfy about it. Sure, and I think it's partially
Speaker 3: I said this already, but I think it's partially like
Speaker 3: the fact that they know exactly what you've spent. I
Speaker 3: mean like when you're if you're buying a gift someone,
Speaker 3: you can try get on sale, or you can you
Speaker 3: shop back to get cash back, or there are all
Speaker 3: of these ways for you to make it a little
Speaker 3: bit easily. If you giving us one hundred dollars, like
Speaker 3: you're giving them a hundred dollars, it's not really a
Speaker 3: whole lot of ways around that.
Speaker 2: Why are we doing gifts?
Speaker 6: Oh?
Speaker 2: Yeah? Like you know, Jesse, if you and I sat
Speaker 2: down and put a limit on the gifts that we
Speaker 2: were giving each other, and I said it's to one
Speaker 2: hundred dollars and you said, yep, no worries, can I
Speaker 2: have it in cash? Well, are we just swapping one
Speaker 2: hundred dollars?
Speaker 3: Well, that's so true, like a little switch true.
Speaker 2: Like I'm going to give you one hundred dollars cash, Jess,
Speaker 2: and you're gonna buy me worth one hundred dollars. Like please,
Speaker 2: don't get me wrong, I'm always super grateful for it,
Speaker 2: but I think it changes the dynamic of like the
Speaker 2: spirit of giving at Christmas, Like I love buying gifts
Speaker 2: for people. I know Jess does too, and you do too.
Speaker 2: I've noticed your little love language is gifts. Like it's
Speaker 2: very very sweet, but it's also one of those things
Speaker 2: that you know, I give gifts because I want to
Speaker 2: spuck joy. I use gifts because you know, I see
Speaker 2: things and I go Jess would love that. Like I
Speaker 2: was so stoked this year when I picked Jess's present
Speaker 2: because I was like, it's from a place I know
Speaker 2: she loves. It's a thing I know that she would
Speaker 2: never buy herself. It's something that I really like, which
Speaker 2: to me is really important when giving gifts, because like
Speaker 2: I want to like something that I'm giving you, but
Speaker 2: also I just knew she would like it or hopefully
Speaker 2: like it, or she's lied to me this entire time
Speaker 2: and said she liked it. But it's one of those
Speaker 2: things where I just get a lot of joy out
Speaker 2: of that, Whereas if she'd said, oh, well, can you
Speaker 2: just transfer me to cash anyway, I'd be like, oh, well,
Speaker 2: this now just feels like a transaction as opposed to
Speaker 2: an entire like I've thought about you, Jess, this is
Speaker 2: something that I've gone, you know, above and beyond for
Speaker 2: of had to track it down and do this and
Speaker 2: do that, like I don't know. For me, gifts are
Speaker 2: the thought and that's why I've never really cared about
Speaker 2: what they cost. Like I saw in our Facebook group,
Speaker 2: did you see our Facebook group as well? There was
Speaker 2: a post about one of the girls had actually made
Speaker 2: our wheat packs. Yes, yeah, and she got these gorgeous
Speaker 2: tetails from Target that were like six dollars. She made
Speaker 2: a whole heap of them, and she was like, these
Speaker 2: wheat packs cost me like three dollars fifty a gift
Speaker 2: like money wine, and everyone's gonna love them. She wrapped
Speaker 2: them up beautifully because it was the thought that counts. Yeah,
Speaker 2: And I do feel like when I say, oh, yes,
Speaker 2: I'm gonna put a spending limit on our presence, it's
Speaker 2: one hundred dollars this year, I feel like that's the limit,
Speaker 2: not the expectations like, I'm not getting you a gift
Speaker 2: worth one hundred dollars. I'm just saying, let's just make
Speaker 2: sure that our budgets are relatively similar, Like, let's just
Speaker 2: make sure that we're not going, you know, really obnoxious
Speaker 2: this year. One hundred dollars is a lot of money too.
Speaker 2: It is for one gift for one person. Like, that's
Speaker 2: a lot of money. So I just look at it
Speaker 2: and go, you're just asking for a hundred bucks now
Speaker 2: that it's a bit weird. Whereas if I had set
Speaker 2: I don't know, if i'd set a budget of one
Speaker 2: hundred dollars, especially way back in UNI days and when
Speaker 2: I just was a bit more strapped for cash, I'd
Speaker 2: be like, great, let's pretend it's one hundred dollars. Yes,
Speaker 2: I'd then be like shopping around, going to DFO, trying
Speaker 2: to find something that was also discounted so I didn't
Speaker 2: have to spend the whole one hundred dollars, but you,
Speaker 2: as the gift receiver, was still getting a heap of value.
Speaker 4: Yeah.
Speaker 5: So I don't know, I know I've been on the
Speaker 5: other end where I want the cash because especially if
Speaker 5: you're just so fair. Yeah, and like I guess if
Speaker 5: you're spending money over Christmas, what you really need is
Speaker 5: cash because you're like, it's so stressful sometimes it's so
Speaker 5: anxiety inducing. So I totally get wanting the money, but
Speaker 5: I totally get the dissatisfaction of literally just trend forring
Speaker 5: someone a hundred bucks, and also when it comes to
Speaker 5: like the morning of when that person's just sat there
Speaker 5: not opening any presents.
Speaker 4: But I guess, like if everyone's comfortable.
Speaker 5: Sending or not sending but giving the hundred dollars instead,
Speaker 5: I would maybe try and make it like creative, like
Speaker 5: get like a really cheap biggie bank and put like
Speaker 5: the hundred bucks in there, or like make it like
Speaker 5: it in a card and put it in something that
Speaker 5: you can still wrap so it feels like she's still
Speaker 5: opening a present or something like that, you know.
Speaker 2: Yeah, or just transfer me to the hundred bucks, don't
Speaker 2: worry about it. Yeah, it feels very transactional, it does.
Speaker 2: It feels very unsatisfying. And then yeah, like what if
Speaker 2: everyone wanted that same thing, then everyone would just be like, oh,
Speaker 2: I'll just keep the money in my own account, and
Speaker 2: everyone breaks even no one gets a present, you know
Speaker 2: what I mean? Like may just start doing presents this
Speaker 2: year coase we stretch for cash, Like yeah, I don't know.
Speaker 2: I just I don't feel uncomfortable with it. Like I
Speaker 2: feel like I've given cash as presents before, when people
Speaker 2: would be like, oh, I'd love cash. And when I
Speaker 2: was younger, if my parents were like, what do you
Speaker 2: want for MS you new days, I was like money, yes,
Speaker 2: please give me money.
Speaker 3: I need cash. Yes.
Speaker 2: But and this is very entitled again, like it is
Speaker 2: absolutely showing my privilege. I knew that by asking my
Speaker 2: parents for cash, they would definitely give me cash, but
Speaker 2: I'd always still get something trivial to open on the day.
Speaker 2: And I feel like it did take the spark away,
Speaker 2: Like now I'm going to be a mum. I'm not
Speaker 2: gonna love giving my kids cash, like I'm a gift
Speaker 2: giver at heart, Like I'm not gonna love that, but
Speaker 2: it's also practical. Yeah, and right now I feel like
Speaker 2: asking for cash is fine, but like, let's just take
Speaker 2: it one step further. Let's not do that little dance
Speaker 2: of Jess. You get me a present worth one hundred
Speaker 2: dollars and I'll do the same thing, Like let's just
Speaker 2: be like, oh, let's just not do presents. You know
Speaker 2: what I would love a really beautifully written card, Hey,
Speaker 2: Merry Christmas. It's been so lovely hanging out with you
Speaker 2: this year, Like.
Speaker 3: It's really nice made card would be cute if you
Speaker 3: didn't want to do gifts, like, okay, we have to
Speaker 3: make each other something with stuff home. To make a card,
Speaker 3: you have to make it gingerbread house. You have to
Speaker 3: make something that doesn't cost money, but it's made with love.
Speaker 2: No, I agree. So we asked the community. We said,
Speaker 2: do you think it's rude to tell someone to give
Speaker 2: you cash instead of buying a gift? Forty two percent
Speaker 2: of you said yep, that's rude, but fifty eight percent
Speaker 2: of you said, Nope, not rude at all. We also
Speaker 2: asked the question, would you prefer the one hundred dollars
Speaker 2: gift or one hundred dollars in cash. Forty one percent
Speaker 2: of you said the gift, it's much more meaningful, and
Speaker 2: fifty nine percent of you said, give me the cash.
Speaker 2: It's just more useful.
Speaker 3: Cost a living crisis, it's true.
Speaker 2: The next question we asked was, have you ever returned
Speaker 2: a present for a refund suit that you could have
Speaker 2: the cash instead of the gift. Fifteen percent of you
Speaker 2: said yes and eighty five percent of you said no.
Speaker 2: It's hard because a lot of time you wouldn't have
Speaker 2: the receipts. I feel like, logistically, it's probably, you know,
Speaker 2: always gift with gift receipts because I'm anxious.
Speaker 1: Yeah.
Speaker 2: Yeah, Like I gave Justs a Christmas present and then
Speaker 2: she looked like she liked it, but there was a
Speaker 2: little gift receipt in the bottom if she Yeah, but
Speaker 2: I'm always just like, oh, like I would tell someone
Speaker 2: that I loved the gift. Yeah, Like, have you ever
Speaker 2: been like, oh, thanks for the gift, Beck, I'm going
Speaker 2: to return this because it's not really my vibe. I
Speaker 2: couldn't no, neither, I do not have like I do
Speaker 2: not have that level of confidence, and I'm just too
Speaker 2: much for the people pleaser. Wouldn't happen regift? Yeah, yeah, yeah, yeah, same.
Speaker 2: We should have asked about regifting. Yeah, sorry, guys, we
Speaker 2: suck all right, but we did say give us your
Speaker 2: two cents. So someone said, my sister and I just
Speaker 2: don't do presents for this reason. We both just get
Speaker 2: to keep our money.
Speaker 4: That's about.
Speaker 2: Someone said, I much prefer giving people cash or gift cards.
Speaker 2: People never pick what I need. Someone else said, no
Speaker 2: problem with asking for cash for Christmas. Sounds like your
Speaker 2: sister didn't ask for it though she demanded it.
Speaker 3: Yeah, maybe it's in the execution. Perhaps, sure I would.
Speaker 3: I really love cash this Christmas. I'm just so strapped.
Speaker 3: I guess might have gone over differently too. If you
Speaker 3: buy me a present, I'm returning it.
Speaker 2: That Yeah, Actually the tone is what threw me the most.
Speaker 3: Yeah.
Speaker 2: Can you imagine if I turned around and said, Jess,
Speaker 2: if you get me a present, I'm just going to
Speaker 2: return it.
Speaker 3: I love it?
Speaker 2: Awkward and you're like, oh okay, can you imagine if
Speaker 2: you'd already bought the present?
Speaker 3: Well, yeah, like what I got to see myself out.
Speaker 2: Thanks. Someone said it's pointless to give one hundred dollars
Speaker 2: cash and then receive one hundred dollars cash. Just keep it,
Speaker 2: don't do the transfer, don't do gifts this Christmas. Yeah.
Speaker 2: A lot of people said there's nothing wrong with asking
Speaker 2: for cash, and absolutely that's the case. I think it
Speaker 2: really goes back to tone. So asking for cash is
Speaker 2: one thing being blunt and being like, Jess, I'll return your.
Speaker 4: Present, chucking it straight in the bin.
Speaker 2: I am not going to respect this at all. And
Speaker 2: then a few other people said, look, asking for a
Speaker 2: transfer does feel rude. Maybe a voucher could be a
Speaker 2: happy medium.
Speaker 3: Oh yeah, Like so you still like what you were
Speaker 3: saying back? You still have something to wrap?
Speaker 4: Yeah? Maybe yeah.
Speaker 2: I just feel like vouchers limiting though, Like, don't get
Speaker 2: me wrong, I feel like lots of us appreciate like
Speaker 2: a Coals My gift card, And as a business owner,
Speaker 2: actually I've looked into this kind of stuff for like
Speaker 2: Christmas presents and bonuses and stuff, And as a business owner,
Speaker 2: it's actually easier to give you, guys like a gift card,
Speaker 2: like a Coals My gift card that you could use
Speaker 2: however you want them giving you cash because then you
Speaker 2: don't have to pay tax on it. Oh yeah, and
Speaker 2: it becomes like a work gift because I bought a
Speaker 2: thing for you, sense yeah, Whereas if I just transferred
Speaker 2: the cash, well that's income, isn't it, So see you later. However,
Speaker 2: many percent in tax you pay a lot of people
Speaker 2: have said, look, you just don't need more stuff, They
Speaker 2: just need to pay their bills, and I totally resonate
Speaker 2: with that. Again, I just honestly, like, I'm not going
Speaker 2: to go through too many more of these because they're
Speaker 2: honestly the same. A few of you are a bit rude,
Speaker 2: and I'm like, give her nothing. Someone else said, and
Speaker 2: I laughed at this. I shouldn't have laughed at this,
Speaker 2: because it's kind of nice. They were like, why don't
Speaker 2: you just make a hundred dollars donation on her behalf.
Speaker 4: Or she'd hate it, Like you can't refund that's true,
Speaker 4: that's true.
Speaker 2: Anyway. I think it's really interesting. Again, I think, especially
Speaker 2: at this point in the year, people do just need
Speaker 2: cash to pay their bills, put food on the table,
Speaker 2: and I don't think it's bad to ask for that.
Speaker 2: I think it honestly all comes down to tone and meaning.
Speaker 2: And if you're demanding something and saying, well, I want this,
Speaker 2: and if you don't provide this, well then I'm just
Speaker 2: going to return your gift, that to me feels a
Speaker 2: bit ick and it's like, well, let's just not do
Speaker 2: gifts because you clearly don't even care about the fact
Speaker 2: that I would be gifting you something anyway, sure like, yeah,
Speaker 2: keep your money, I'll keep my money, and we'll just
Speaker 2: call it even so true. Anyway, those are my thoughts.
Speaker 2: Anything else to wrap with My ladies.
Speaker 3: Have a wonderful Christmas.
Speaker 4: Happy Christmas, my baby, Happy Christmas everyone.
Speaker 2: I am so excited for Christmas Day. I look forward
Speaker 2: to Christmases. It's the same. She's very festive, and I
Speaker 2: think you rock a little bit of a Christmas vibe too.
Speaker 2: I feel like you you slip into it. But it's
Speaker 2: also not the happiest time of year for each and
Speaker 2: every single one of our community members. So if you're
Speaker 2: hearing us talking about how exciting and amazing it is
Speaker 2: and you're like, geez like be like, that's not going
Speaker 2: to be my Christmas. One, I'm really sorry. Two, I'm
Speaker 2: thinking of you and we love you, and we hear
Speaker 2: every single other day of the year. At the end
Speaker 2: of the day, if you're not surrounded by people who
Speaker 2: love and support you, then maybe you're in the wrong room.
Speaker 2: But also, I just want to remind you all that
Speaker 2: we are thinking of you and that Christmas is bloody
Speaker 2: hard for lots of us.
Speaker 4: Yes aboutely so it's not.
Speaker 2: Easy, but another year we've done it, and I think
Speaker 2: that we all deserve a little bevragino to celebrate the
Speaker 2: fact that we're still here, We're still thriving.
Speaker 5: Absolutely big Merry Christmas and happy yu'll to those who celebrate.
Speaker 3: Yes see you next week, guys.
Speaker 2: Bye guys.
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