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Speaker 1: My Name'satasha Bamblet. I'm a proud First Nations woman and

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Speaker 1: I'm here to acknowledge country t Glenn Young Ganya Niana

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Speaker 1: Kaka yah y and beIN Ahaka Nian our gay In

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Speaker 1: Mbini yakarum Jar Dominyamika Umagahawaka Woman Damon Imlan Bumba ban

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Speaker 1: Gadabomba in and now in wakah ghan On yak rum

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Speaker 1: Jar water Nadaa. Hello, beautiful friends, we gather on the

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Speaker 1: lands of the Aboriginal people. We thank, acknowledge and respect

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Speaker 1: the Abiginal people's land that we're gathering on today. Take

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Speaker 1: pleasure in all the land and respect all that you see.

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Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,

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Speaker 1: bringing you the tools, knowledge and resources for you to thrive.

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Speaker 2: She's on the Money.

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Speaker 3: She's on the Money.

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Speaker 4: Hello and welcome to She's on the Money, the podcast

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Speaker 4: that makes personal finance fun, especially on Fridays. It's our

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Speaker 4: favorite day of the week because we get our little

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Speaker 4: team together. It's especially little today to celebrate you how incredible.

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Speaker 4: She's on the Money community. Miss Jesse Garci is here

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Speaker 4: as always sharing our favorite money wins. Beck still away,

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Speaker 4: so I'm going to be sharing this week's broke Tips.

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Speaker 3: This week we'll be.

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Speaker 4: Helping to answer a money dilemma that asks how much

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Speaker 4: money should you actually have in savings and something that

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Speaker 4: you slid into our dms about what happens when you're

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Speaker 4: not sure about advice you were given from a financial advisor.

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Speaker 3: Oh, how's your week being, though, Jess Lovely.

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Speaker 2: I went to the snow for the first time shop week,

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Speaker 2: which was very fun. I'd only ever seen snow ones

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Speaker 2: and it was when I was hiking mountains, so that was.

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Speaker 4: That's not that interesting, No, so I and it would

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Speaker 4: have been just like a little bit slushy, not really real.

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Speaker 3: Which mountain did you go to?

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Speaker 2: It was Kilimanjari, so it was pretty hectic up the top,

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Speaker 2: but I was so tired that I really wasn't just I.

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Speaker 5: Didn't even notice that. It was my first time in

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Speaker 5: my life.

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Speaker 2: Seeing snow, and I didn't even clock it because I

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Speaker 2: was just like walking along. So yeah, so going to

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Speaker 2: the snow for the first time is really fun.

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Speaker 3: But did you ski or did you snowboard?

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Speaker 2: I snowboarded because everyone I was with with snowboarding, and

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Speaker 2: I thought I just.

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Speaker 3: Can't imagine it. You give skier vibes. I'm so sorry.

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Speaker 4: I'm also so envious because I haven't had time and

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Speaker 4: this is like the biggest first world problem. I haven't

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Speaker 4: had time to like work out when we are going

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Speaker 4: to go to the snow and like, Loki, I'm off

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Speaker 4: to Bali like next week, which I'm really excited about,

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Speaker 4: and that was what was prioritized. But my husband two

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Speaker 4: weeks ago went for like just a midweek ski trip

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Speaker 4: with his friends, and I was like.

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Speaker 3: One, Okay, that's fine, like have a good time.

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Speaker 4: Yeah, but I had a single parent And then all

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Speaker 4: he's doing is sending me photos of him skiing, and

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Speaker 4: so then now you're like, I went to the snow too,

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Speaker 4: so envious.

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Speaker 5: Makes time we can go together? How is your we been?

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Speaker 5: Apart from that, I.

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Speaker 3: Am prepping for BALI like low key.

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Speaker 4: I feel like all I'm doing is talking about it

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Speaker 4: at the moment, I think because I'm like, you know,

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Speaker 4: when you're just like excited to get away. It's been

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Speaker 4: so sluggish here, it's been cold. I feel like the

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Speaker 4: wind this year is like extra ikey. So just the

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Speaker 4: idea I'm gonna go to somewhere warm and get to

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Speaker 4: get to eat a mass amount of like Nazi goring

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Speaker 4: and have a drink beside a pool, and my baby

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Speaker 4: is going to be there. But like it's been taking

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Speaker 4: a lot more planning than you know, just my husband

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Speaker 4: and I going out to Bali, so like making sure

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Speaker 4: that Harvey has swim nappies.

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Speaker 3: I've been picking up this week, making.

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Speaker 4: Sure he has like enough hats and rash fest and

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Speaker 4: like I'm just packing for another human being that I

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Speaker 4: also want to swaddle in cotton wool, you know.

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Speaker 5: M hmm.

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Speaker 2: Yeah, I need to ask you what your recommendations are,

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Speaker 2: because I seeing about this recently. We had friends who

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Speaker 2: have for dinner and they've got kids, and I was like,

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Speaker 2: they've just they come in, They've got like they've got

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Speaker 2: to do trips from the car, right because obviously we

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Speaker 2: don't have kids.

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Speaker 5: You've got the high chair.

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Speaker 3: And the mad we cannot fly with carry on only anymore.

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Speaker 2: Literally, it's not possible. And I was thinking, oh, it

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Speaker 2: would be nice if I could just like you know,

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Speaker 2: do some looking on marketplace and find you just really

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Speaker 2: cheap versions of all of these things, so it's like

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Speaker 2: less things for my friends to have to lug around,

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Speaker 2: So I'll have to pick your brain on like what

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Speaker 2: the essentials are to just have.

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Speaker 3: Yeah, I would say a portcot yep.

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Speaker 4: And I would say some form of high chair, but

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Speaker 4: like high chairs take up a lot of space, so

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Speaker 4: maybe like those booster seats tabletop one. Yeah that can

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Speaker 4: like sit on the dining chairs that you already have,

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Speaker 4: because like I don't know, lots of people have lots

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Speaker 4: of different opinions, but like I like having my baby

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Speaker 4: involved in the conversation, Like I want him to sit

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Speaker 4: at the table.

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Speaker 3: Yeah, Like he doesn't have.

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Speaker 4: A high chair with a tray off to the side,

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Speaker 4: Like his high chair is one that I purposefully could

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Speaker 4: put under the like dining table with us, So I

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Speaker 4: feel that.

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Speaker 3: And maybe just like a big tub of bloe.

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Speaker 5: Yeah yeah, something good, something universal.

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Speaker 4: Yeap, something universal that they can play with that like

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Speaker 4: kind of promotes creative play. But also like you can

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Speaker 4: pack away because I'm assuming you don't want your house

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Speaker 4: to look like kids live there.

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Speaker 3: Right now it looks like toy World. It's all over

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Speaker 3: my lound room.

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Speaker 5: Oh fun, So.

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Speaker 4: Let's move on from there, because I'm not gonna lie.

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Speaker 4: I don't love that my entire Loungdroom is now a

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Speaker 4: toy shot. Would you like a five star review?

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Speaker 5: Oh, I would love one.

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Speaker 4: I'm glad because we've got a really good one this week.

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Speaker 4: So this one is from Morgan. She says the podcast

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Speaker 4: every Woman Needs. I have been an avid list of

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Speaker 4: the podcast for over five years. I just want to

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Speaker 4: say a huge thank you to Victoria, Jess and Beck

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Speaker 4: and the whole She's on the Money team for completely

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Speaker 4: transforming my money mindset. I went from six thousand dollars

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Speaker 4: in debt after a Mexico trip with zero savings to

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Speaker 4: having more than fifty thousand dollars invested in ETFs and

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Speaker 4: a super bows, well above the average for my age.

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Speaker 3: Thanks to your advice.

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Speaker 4: I grew up with an abundance mindset and never felt

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Speaker 4: like I ever went without.

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Speaker 3: But I saw the other side.

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Speaker 4: Through my dad, now tens of thousand dollars in credit

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Speaker 4: card debt, forced to sell his luxury car and move

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Speaker 4: in with his ninety six year old mum with nothing

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Speaker 4: to his name. That hit me really hard. Thanks to

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Speaker 4: your podcast, and now truly value the importance of looking

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Speaker 4: after future me. You've changed my life and I'll be

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Speaker 4: a loyal listener forever. It literally is the highlight of

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Speaker 4: my week. Much love Walks.

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Speaker 3: That's so nice. Thank you, it's literally my favorite.

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Speaker 4: Like please, don't get me wrong, like everybody loves a

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Speaker 4: good review, but like knowing that the content that we

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Speaker 4: make changes lives, not just all.

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Speaker 1: I love what you do.

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Speaker 3: Thanks, It's like, sorry, did we like help you? You

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Speaker 3: did all the work. I'm not trying to take.

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Speaker 4: Credit for that, but like, sorry, please tell me more

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Speaker 4: stories like this. Absolutely, they made me so excited.

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Speaker 2: That's incredible, and how incredible you can then use that

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Speaker 2: information to hopefully pass on and help your family.

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Speaker 3: Exactly as equally exciting.

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Speaker 4: Every single week we ask you to share your money

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Speaker 4: wins and confessions with us, and then Jess goes through

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Speaker 4: that thread and brings what she deems.

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Speaker 3: To be the best money wins and confessions to the show.

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Speaker 3: What have you got this week, Jess?

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Speaker 2: It's always hard to choose, but I'll start off this

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Speaker 2: week with one from Catherine, who said she has her

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Speaker 2: citizenship ceremony this week and she wanted to get a

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Speaker 2: special dress for the special occasion. She fell in love

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Speaker 2: with one she tried on in David Jones, but it

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Speaker 2: was three hundred and forty dollars. She went home to

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Speaker 2: think about it and found the exact dress with tags

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Speaker 2: still attached, for sale on deepop for eighty bucks including postage.

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Speaker 2: She then got herself a pair of tenderly heels on

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Speaker 2: Facebook marketplace, and she said she's so chuffed.

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Speaker 4: Literally you can probably see my comment only yah already

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Speaker 4: because I've been there and I am excited.

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Speaker 3: Also, welcome, friend, you are now one of us.

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Speaker 2: Congratulations the beautiful little odd news number two for anyone

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Speaker 2: who adnews.

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Speaker 3: Stresses are so expensive, but like also just so beautifully cut.

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Speaker 2: They look gorgeous, and I love that the girl's a

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Speaker 2: female owner. She documents on TikTok. Anyway, I'm sure it's

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Speaker 2: people have seen that. I just think it's very cool. Next,

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Speaker 2: I've got a money win from Sienna who said she

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Speaker 2: changed her passport to her married name for.

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Speaker 5: Free in New South Wales.

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Speaker 2: Sorry what and instead of putting the existing expiry date

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Speaker 2: of two and a half years from now, they gave

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Speaker 2: her a full ten year passport for free. What Isn't

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Speaker 2: that crazy? I don't know if that's maybe she just

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Speaker 2: got lucky and that's not the standard.

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Speaker 4: No, I think it is standard if you get married

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Speaker 4: and you change your name, like, you can apply to

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Speaker 4: have your stuff updated.

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Speaker 3: They're like, oh, no, we won't charge you for that.

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Speaker 2: Yes, you you can find the form online and get

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Speaker 2: it done. Next, I've got a money win from Grace,

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Speaker 2: who said she had lots of Flybys points so she

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Speaker 2: decided to treat herself to an Apple Watch off their store,

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Speaker 2: and then she still had points left over afterwards.

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Speaker 4: That is actually so good. I still tell every man

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Speaker 4: in his dog about your kitchen aid mixer.

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Speaker 2: Oh it's just the best. Every time I use that

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Speaker 2: kitchen aid. I feel so good about it.

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Speaker 3: You're just like, this was free.

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Speaker 5: I know I'm making something with love.

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Speaker 2: Next, I've got of money in from Irena, who said

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Speaker 2: money in and pet tax. She's been cat sitting as

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Speaker 2: a side hustle for two and a half years and

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Speaker 2: she now has plenty of regular customers.

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Speaker 5: But she also keeps getting new ones.

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Speaker 2: She said this past week and she expanded her business

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Speaker 2: by adding a new species to her bought folioir stop it,

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Speaker 2: and getting herself a new regular client. And she said,

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Speaker 2: meet Sonny the ferret.

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Speaker 5: And I've got to say.

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Speaker 3: Ferrots a ferrets are so cute.

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Speaker 5: Oh my god, look at that little tidy way. Oh

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Speaker 5: I did I screenshot a big one?

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Speaker 4: I follow a ferret on TikTok. Actually, I actually can't

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Speaker 4: be trusted. I like look at other people's TikTok feeds

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Speaker 4: and they're like, you know, productive or like cooking and whatnot,

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Speaker 4: a minor like ducks. I've got ferrets. I look at

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Speaker 4: cat videos. There's this girl I follow and she has

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Speaker 4: that cat called Juni.

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Speaker 5: Oh I love ye.

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Speaker 4: I watched every single Junior video like, I'm sorry, Like,

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Speaker 4: I just look at pictures of animals.

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Speaker 2: That's what the Internet's for, in its trurest, purest form.

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Speaker 2: The Internet is for funny.

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Speaker 1: Sorry.

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Speaker 4: I just stopped following anybody who made me feel bad

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Speaker 4: about myself, anybody who made me feel like I needed

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Speaker 4: to buy stuff. I was like, unfollow immediately, and then

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Speaker 4: I'd follow another duck page.

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Speaker 5: Yeah, you've really trained that algorithm.

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Speaker 2: Next, I've got a money win from Lucy, who said

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Speaker 2: she sent a message to someone at her workplace saying, hey,

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Speaker 2: if you ever want a hand running the cooking classes

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Speaker 2: that they run, she was happy to help out.

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Speaker 5: Yeah, turns out.

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Speaker 2: It's turned into almost an extra six thousand dollars a

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Speaker 2: year in extra income. Story what she said, it may

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Speaker 2: even double beyond that because they run craft workshops as well,

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Speaker 2: and so she might be brought on to do that.

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Speaker 2: She said, Yes, technically I'm working more hours, but it's

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Speaker 2: different from her main role and it's something she will enjoy.

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Speaker 2: I want to know where you work that you get

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Speaker 2: to do cooking classes and craft workshops, because that sounds

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Speaker 2: like a job.

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Speaker 3: I would very much like to have. Please don't tell her.

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Speaker 3: I don't want her to leave.

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Speaker 5: So yes, that's so funny.

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Speaker 2: And then lastly, this week, I've got a money win

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Speaker 2: from another Lucy. This time Lucy was an Eye. She

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Speaker 2: said she got an email from Booper saying that they

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Speaker 2: had gifted her fifty dollars to spend on their online

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Speaker 2: reward store. She locked in and she decided to get

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Speaker 2: herself two twenty five dollar Ubery Its vouchers. She said,

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Speaker 2: it's perfect for a girl who works shift work and

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Speaker 2: she has sometimes it's a sleep all day after a

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Speaker 2: long night shift and she just want to make dinner

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Speaker 2: when she wakes up, so she can just file the

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Speaker 2: little gift cards away for later.

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Speaker 3: I love that. That is a good little wrap up

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Speaker 3: of the group this week, Jess, thank you.

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Speaker 5: Have you got some brog tips that Beck sent you?

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Speaker 6: I do?

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Speaker 3: Are you ready?

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Speaker 1: So?

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Speaker 4: The first one is from Ebony and she said, students

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Speaker 4: and concessions get into the Immigration Museum in Melbourne for free.

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Speaker 4: It's a warm place and such a fun way to.

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Speaker 3: Spend a day. I'm sorry, that's genius. Lou has another

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Speaker 3: tip for us.

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Speaker 4: She said, to avoid paying full price at cotton On

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Speaker 4: in store, always check their online prices first because they

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Speaker 4: will price match their online store in store.

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Speaker 5: Oh, I've done this one many a time.

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Speaker 3: Yep, she said. I've got up to fifty percent off

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Speaker 3: retail twice doing this.

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Speaker 5: That's so clever.

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Speaker 4: And last brog tip comes from Leanna and she says,

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Speaker 4: I'm at the end of my two week pay cycle

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Speaker 4: and I typed in what things I had in my

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Speaker 4: fridge and pantry and wrote into chat GPT my location

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Speaker 4: to come up with dinner plans for five nights under

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Speaker 4: one hundred dollars. Not only did it come up with

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Speaker 4: a wicked plan, I had sixty bucks left over as a.

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Speaker 3: Mum of three.

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Speaker 4: This is a bloody money when in my books, and

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Speaker 4: now I don't need to dip into next week's food budget.

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Speaker 5: That's incredible.

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Speaker 2: You would be amazed at how much stuff there is

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Speaker 2: in your pantry that you can turn into a meal

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Speaker 2: with a little creativity.

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Speaker 4: One one hundred percent, And you know what, it doesn't

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Speaker 4: even need creativity. Sometimes you just need a fresh mind,

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Speaker 4: because like the amount of times I've been like I

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Speaker 4: have nothing and then look something up online and I'm

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Speaker 4: like I heard everything, and.

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Speaker 3: You don't even have to go to cold exactly.

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Speaker 4: Well, Jess, let's go to a really quick break because

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Speaker 4: on the flip side, I'm very excited we get to

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Speaker 4: answer a money dilemma that asks how much money should

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Speaker 4: we actually have in our savings account? Which I think

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Speaker 4: is very ballid and something that you slid into our

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Speaker 4: dms about this week, what happens when you're not sure

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Speaker 4: about the the financial advisor gave you? Don't go anywhere, guys,

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Speaker 4: Welcome back, everybody.

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Speaker 5: Let's take a listen to this week's money dilemma.

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Speaker 7: Hi, there, have you got a money dilemma you just

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00:13:15,200 --> 00:13:17,679
Speaker 7: can't solve? The Shees on the Money team is here

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00:13:17,760 --> 00:13:20,960
Speaker 7: to help. Every week, we tackle your dilemmas, both big

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Speaker 7: and small, to answer your most burning money, career and

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Speaker 7: life questions. To get involved, simply head to our website

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Speaker 7: and leave us a short voice recording and you might

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Speaker 7: just find yourself on the show.

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Speaker 3: Now, let's take a listen to this week's money dilemma. Hi, team,

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Speaker 3: I hope you're all well.

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Speaker 6: How can I work out how much money is ideal

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Speaker 6: to have in my savings account? I have a reliable

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Speaker 6: weekly income, an emergency fund with another bank, and I

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Speaker 6: regularly invest in shares through dollar cost averaging. However, I've

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Speaker 6: heard Victoria and others speak about not keeping much cash

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Speaker 6: in savings. I want to maximize every dollar, but I

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Speaker 6: also don't want to access miamigency fund until an actual emergency,

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Speaker 6: So I'm keen to know how to work out how

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Speaker 6: much to keep in savings. Thanks Tane, have a great day.

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Speaker 3: By yes, how much money do you think we should

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Speaker 3: have in savings?

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Speaker 2: I feel like there's no should, Like there's no correct

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Speaker 2: answer to that, right because it's going to be so

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Speaker 2: different for everybody. You're saving set aside for something you know.

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Speaker 2: For me, the bulk of my savings is going to

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Speaker 2: a house deposits. Obviously, I've got a number that I'm

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Speaker 2: working towards for that, but that's relative to the house

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Speaker 2: that I'm purchasing. If you're saving for a holiday or

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Speaker 2: a car or whatever you're saving for, you know, you

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Speaker 2: might have a goal number in mind. I think the

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Speaker 2: principle that she's referring to is more so the fact

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Speaker 2: that you want your money to be working hard, like

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Speaker 2: like with your investments. But our listeners saying she's already

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Speaker 2: got her investments going. I don't think it's a bad

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Speaker 2: thing to have money sitting in a high interest savings account,

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Speaker 2: and obviously like find the best option you can for you,

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Speaker 2: the account that's giving you the best interest rate.

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Speaker 5: But as to how much savings.

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Speaker 2: You should have outside of your emergency fund, which typically

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Speaker 2: we say around three months of expenses where possible, it

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Speaker 2: really just depends on what you're saving for and what

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Speaker 2: you're comfortable with, and you know how much you were

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Speaker 2: able to save.

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Speaker 5: Like how long is a piece of string is really

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Speaker 5: the question.

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Speaker 4: And it's a hard bit, right because we know from

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Speaker 4: research that most Australians unable to access five hundred dollars

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Speaker 4: should an emergency pop up, like they have to rely

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Speaker 4: on credit. So I kind of want to draw attention

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Speaker 4: to that before answering the question, because I think in

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Speaker 4: this current economic climate, having savings is a privilege, not

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Speaker 4: a given. And if you're in a situation where you're

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Speaker 4: listening to this and you're like, what do you mean

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Speaker 4: how much I should have in savings, I can't save queen.

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Speaker 3: We see you, we get it.

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Speaker 4: But on the flip side, I do think it comes

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Speaker 4: back to your values and what you're working towards. Like,

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Speaker 4: let's pretend and this listener wrote in and said, you

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Speaker 4: know I'm not talking about my emergency fund. Yes, well,

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Speaker 4: I don't know planning on a baby? Are you saving

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Speaker 4: for a house deposit? Like there's actually no right or wrong. Personally,

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Speaker 4: Steve and I have our and like this is just

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Speaker 4: our personal situation. We have our emergency fund, which is

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Speaker 4: sitting in an offset account to our mortgage.

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Speaker 3: And then we have our cash hub or like.

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Speaker 4: Our you know, transactions account, which is where all of

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Speaker 4: the money builds up for like our bills, our regro whatever,

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Speaker 4: and that gets direct debited also an offset to our mortgage,

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Speaker 4: and we have a little bit of what i'd call,

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Speaker 4: you know, like a float. So like if you work

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Speaker 4: in retail, you know you always start with maybe like

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Speaker 4: five hundred dollars in the till at the start of

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Speaker 4: the day, so we have the right change, we have

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Speaker 4: a float, and in that I think it's like about

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Speaker 4: two thousand dollars give or take, and that's like the

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Speaker 4: base amount. So in case like someone's red ro comes

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Speaker 4: out and it was unexpected, there's always going to be

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Speaker 4: money in that account. So for me, I wouldn't say

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Speaker 4: that savings. That's just the structure of like our quote

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Speaker 4: spending account. And then for savings, it really depends on

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Speaker 4: what our goals are, Like we save for holidays, we

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Speaker 4: save four or you know, a house deposit. We're putting

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Speaker 4: some extra money aside in case we need a little

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Speaker 4: bit more money if we're purchasing a bigger property, And

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Speaker 4: you know, I think it's really based on your values.

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Speaker 3: Like my savings had a.

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Speaker 4: Little bit of a different trajectory when we were having Harvey,

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Speaker 4: Like I had worked out how much I needed for

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Speaker 4: like a gosh and a change table in all of

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Speaker 4: that other stuff, and a pramp. Oh my lord, different conversation,

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Speaker 4: Why the heck a pram so expensive?

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Speaker 3: Jess, what do you mean it doesn't even have a motor.

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Speaker 4: It should absolutely no, they should be self driving at

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Speaker 4: this point. If you're more than fifteen hundred dollars, I'm sorry,

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Speaker 4: what the heck? Anyway, I think it's really up to

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Speaker 4: your values. There's no right or wrong when it comes

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Speaker 4: to like how much you should have in savings. I

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Speaker 4: think you need to ask yourself some questions. What are

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Speaker 4: your values, what are you working towards? What would you

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Speaker 4: spend your money on if you had savings, Because if

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00:17:55,840 --> 00:17:58,520
Speaker 4: it's like, oh, I don't have anything I would spend

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Speaker 4: money on, like Steve and I, and this is just

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Speaker 4: like my personal situation, and I feel.

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Speaker 1: Like that I don't know.

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Speaker 3: He helps contextualize it.

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Speaker 4: I don't actually want all of our money sitting in

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Speaker 4: offsets to our mortgage because don't get me wrong, it's

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Speaker 4: offsetting interest payable and that's a money win. But both

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Speaker 4: of us are quite aware that we'll make more money

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Speaker 4: and that money is working even harder if it's in

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Speaker 4: an investment. So like, we don't sit on a lot

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Speaker 4: of savings just purely because we're like, we have our

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Speaker 4: emergency fund, we have our little float. Every single month,

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Speaker 4: when our incomes come into that account, they're divvied up

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Speaker 4: and you know, when we were planning for a baby

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Speaker 4: and we were saving for Harvey to come along, and

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Speaker 4: when we are planning for a holiday, we actually figure

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Speaker 4: out our investments and like flip that around a little

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Speaker 4: bit so that we go, Okay, we'll have the savings

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Speaker 4: for that particular event, but then we revert back to

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Speaker 4: sending as much as possible to an investment. Yeah, but

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Speaker 4: that's going to be different for everybody. Yeah, based on

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Speaker 4: your priorities and stuff.

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Speaker 3: Yeah, one hundred percent. And I think that's it. Learn

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Speaker 3: your priorities. It will tell you how much you need

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Speaker 3: in savings. Anything else to add.

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Speaker 2: Just no, I think that about covers it. Should we

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Speaker 2: get into the juicy d I'm so excited.

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Speaker 4: Yes, of course, this is my favorite segment and I

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Speaker 4: hate that we always have to wait until the end

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Speaker 4: of the episode every single week to do it.

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Speaker 3: All right, So this is the DM we got help.

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Speaker 4: My fiance and I have seen a financial advisor who's

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00:19:18,640 --> 00:19:21,640
Speaker 4: recommended we add my name to his house title, which

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00:19:21,720 --> 00:19:25,240
Speaker 4: is his asset, and open a joint share portfolio with

439
00:19:25,440 --> 00:19:28,200
Speaker 4: my savings. I've got about one hundred thousand dollars that

440
00:19:28,359 --> 00:19:31,880
Speaker 4: we both keep contributing to. I don't want to add

441
00:19:31,960 --> 00:19:34,320
Speaker 4: my name to the title. I'm a dual citizen, and

442
00:19:34,440 --> 00:19:36,800
Speaker 4: it can mean I have to pay capital gains tax

443
00:19:37,119 --> 00:19:40,400
Speaker 4: on the house if we ever sold, and also cuts

444
00:19:40,480 --> 00:19:43,320
Speaker 4: me off from the first homeowners grant in the future.

445
00:19:43,960 --> 00:19:48,040
Speaker 4: After listening to so much financial advice to protect yourself,

446
00:19:48,160 --> 00:19:51,480
Speaker 4: it feels uncomfortable to put his name on my life savings.

447
00:19:51,920 --> 00:19:54,399
Speaker 4: But we're also getting married soon and to keep it

448
00:19:54,520 --> 00:19:56,320
Speaker 4: separate doesn't sit right either.

449
00:19:56,680 --> 00:19:57,800
Speaker 3: What would you recommend?

450
00:19:59,000 --> 00:20:00,440
Speaker 5: There's lots to unpack. There isn't that.

451
00:20:00,640 --> 00:20:01,720
Speaker 3: Oh my god, what would you do?

452
00:20:01,920 --> 00:20:02,120
Speaker 1: Yess?

453
00:20:02,640 --> 00:20:03,480
Speaker 5: I think so.

454
00:20:03,600 --> 00:20:05,080
Speaker 2: The first thing that jumped out is the comment that

455
00:20:05,119 --> 00:20:07,160
Speaker 2: you'll have to pay capital gains if you sell a house.

456
00:20:07,200 --> 00:20:09,159
Speaker 2: I believe anyone would have to pay capital gains on

457
00:20:09,240 --> 00:20:09,800
Speaker 2: the profit you do.

458
00:20:09,880 --> 00:20:11,719
Speaker 4: It's a little bit different if you're a dual citizen

459
00:20:12,160 --> 00:20:15,280
Speaker 4: because you've got international attacks to take into consideration. So

460
00:20:15,359 --> 00:20:17,760
Speaker 4: you are not wrong, yeah, but it also is a

461
00:20:17,800 --> 00:20:19,000
Speaker 4: little bit it's a little bit different.

462
00:20:19,119 --> 00:20:19,520
Speaker 3: Yeah, got it?

463
00:20:19,600 --> 00:20:19,840
Speaker 5: Okay.

464
00:20:20,320 --> 00:20:23,560
Speaker 2: I would say, have you said this to your financial advisor,

465
00:20:23,560 --> 00:20:25,560
Speaker 2: because from my understanding of financial advisor is going to

466
00:20:25,560 --> 00:20:28,480
Speaker 2: look at your situation, give you like their opinion on Well,

467
00:20:28,600 --> 00:20:30,119
Speaker 2: this is what I would do if I was in

468
00:20:30,200 --> 00:20:33,000
Speaker 2: your circumstances. But you're well within your right to say

469
00:20:33,040 --> 00:20:35,760
Speaker 2: to them, oh, thank you for the advice. You know

470
00:20:35,840 --> 00:20:38,240
Speaker 2: exactly what you just said to us, Like I am not, like,

471
00:20:38,320 --> 00:20:40,880
Speaker 2: I don't want to waste my opportunity to take advantage

472
00:20:40,880 --> 00:20:44,760
Speaker 2: of first home biogrants. I ideally would like to keep

473
00:20:44,960 --> 00:20:48,480
Speaker 2: my savings independent or my investments independent. Or perhaps he's

474
00:20:48,520 --> 00:20:50,159
Speaker 2: recommended putting his name on it.

475
00:20:50,240 --> 00:20:50,800
Speaker 5: I don't really know.

476
00:20:50,920 --> 00:20:53,320
Speaker 2: Maybe there's some benefit tax wise or something like that.

477
00:20:53,520 --> 00:20:56,119
Speaker 2: I don't know how that works. I'm not a financial advisor. Shocking,

478
00:20:56,320 --> 00:20:58,800
Speaker 2: but you know, you can have a conversation with them.

479
00:20:58,800 --> 00:21:01,840
Speaker 2: I would say and say, hey, what are my other options?

480
00:21:02,040 --> 00:21:03,119
Speaker 5: I don't like X, Y and Z.

481
00:21:03,280 --> 00:21:05,320
Speaker 2: Can you give me an alternative? Like, it's not as

482
00:21:05,359 --> 00:21:07,800
Speaker 2: if they lay down the law and that's it. They're

483
00:21:07,800 --> 00:21:11,199
Speaker 2: giving you their best recommendation, but they're also like, they

484
00:21:11,240 --> 00:21:13,639
Speaker 2: will operate within the framework that you provide them. So

485
00:21:13,680 --> 00:21:15,480
Speaker 2: if you hadn't said to them at the beginning, we

486
00:21:15,600 --> 00:21:18,399
Speaker 2: want to keep our assets separate, their recommendation is not

487
00:21:18,480 --> 00:21:20,680
Speaker 2: going to take that into account. Yeah, So I would

488
00:21:20,680 --> 00:21:22,960
Speaker 2: say just go back to your unless for some reason,

489
00:21:23,040 --> 00:21:25,359
Speaker 2: you were unhappy with them or their advice. I would say,

490
00:21:25,400 --> 00:21:27,520
Speaker 2: go back to the same advisor and tell them exactly

491
00:21:27,600 --> 00:21:29,720
Speaker 2: what you told us and get them to do a

492
00:21:29,800 --> 00:21:31,119
Speaker 2: different work up for you.

493
00:21:31,600 --> 00:21:33,080
Speaker 3: Oh, just be really honest.

494
00:21:34,080 --> 00:21:37,760
Speaker 4: As an ex financial advisor, this question makes me really uncomfortable.

495
00:21:38,240 --> 00:21:41,280
Speaker 4: And the reason for that is I feel like you

496
00:21:41,400 --> 00:21:45,040
Speaker 4: haven't been listened to and by the time you get

497
00:21:45,080 --> 00:21:47,639
Speaker 4: to erosola or like your statement of advice and your

498
00:21:47,920 --> 00:21:51,480
Speaker 4: financial advisor is putting all of your recommendations on the

499
00:21:51,560 --> 00:21:53,520
Speaker 4: table and going all right, Jess, this is what you

500
00:21:53,640 --> 00:21:55,879
Speaker 4: guys should be doing, or like this puts you in

501
00:21:55,920 --> 00:21:57,080
Speaker 4: the best possible position.

502
00:21:57,840 --> 00:22:00,800
Speaker 3: I should know you so deeply, like I should be.

503
00:22:00,880 --> 00:22:03,680
Speaker 4: Talking to you, Jess about like your thoughts, your values,

504
00:22:03,760 --> 00:22:08,000
Speaker 4: what you want to achieve. Like your financial advisor relationship,

505
00:22:08,680 --> 00:22:10,760
Speaker 4: I would say, is one of the you know, this

506
00:22:10,960 --> 00:22:13,920
Speaker 4: is maybe just not how other advisors work, but from

507
00:22:13,960 --> 00:22:17,680
Speaker 4: my perspective, it's one of the most intimate relationships you'll

508
00:22:17,680 --> 00:22:19,880
Speaker 4: ever have because I'm going to talk to you about

509
00:22:19,880 --> 00:22:20,960
Speaker 4: a lot of things. I'm going to talk to you

510
00:22:20,960 --> 00:22:22,879
Speaker 4: about your budgeting great, I'm going to talk to you

511
00:22:22,880 --> 00:22:25,440
Speaker 4: about investing. I'm going to talk to you about your savings.

512
00:22:25,520 --> 00:22:27,639
Speaker 4: I'm going to talk to you about your superinnuation and

513
00:22:27,760 --> 00:22:30,960
Speaker 4: your insurances, and doing all of that touches on lots

514
00:22:30,960 --> 00:22:34,280
Speaker 4: of different life aspects. So when I do your insurances,

515
00:22:34,920 --> 00:22:38,200
Speaker 4: I actually need to ask you a lot of deep

516
00:22:38,320 --> 00:22:41,280
Speaker 4: questions about your medical history and to have the best

517
00:22:41,320 --> 00:22:42,879
Speaker 4: and the biggest impact and to put you in the

518
00:22:42,920 --> 00:22:45,720
Speaker 4: best possible position. Jess, You've got to be comfortable telling me.

519
00:22:46,119 --> 00:22:48,600
Speaker 4: You've got to talk to me about whether you you know,

520
00:22:48,800 --> 00:22:52,040
Speaker 4: broke your knee in grade twelve and had to get

521
00:22:52,240 --> 00:22:54,719
Speaker 4: like a pin in it. I need to know if

522
00:22:54,760 --> 00:22:57,879
Speaker 4: you've had any very serious sexually transmitted diseases.

523
00:22:58,359 --> 00:23:01,240
Speaker 3: I actually, for some people, and I still think this

524
00:23:01,400 --> 00:23:02,240
Speaker 3: is quite backwards.

525
00:23:02,680 --> 00:23:04,919
Speaker 4: If you're in a same sex relationship, I actually need

526
00:23:05,000 --> 00:23:06,439
Speaker 4: to know a little bit about how much you've been

527
00:23:06,480 --> 00:23:07,080
Speaker 4: sleeping round.

528
00:23:07,560 --> 00:23:10,280
Speaker 3: Like your insurance.

529
00:23:10,000 --> 00:23:14,159
Speaker 4: Application for asks, And because i'm your advisor and I

530
00:23:14,320 --> 00:23:18,400
Speaker 4: don't ever want you to submit an application that's not complete,

531
00:23:18,600 --> 00:23:20,560
Speaker 4: or like you might see a question and be like, oh,

532
00:23:21,080 --> 00:23:23,280
Speaker 4: that's worth skipping, I don't really want to give them

533
00:23:23,320 --> 00:23:26,160
Speaker 4: that answer. It could mean an instant decline. So back

534
00:23:26,200 --> 00:23:28,600
Speaker 4: when I was an advisor, I would sit with every

535
00:23:28,720 --> 00:23:32,159
Speaker 4: single client and do your application together, even though it

536
00:23:32,280 --> 00:23:35,240
Speaker 4: was arduous and honestly kind of boring, because go, I

537
00:23:35,280 --> 00:23:38,160
Speaker 4: actually don't care about your sexual history. I really don't.

538
00:23:38,240 --> 00:23:40,320
Speaker 4: It's none of my business. And like you do you,

539
00:23:41,320 --> 00:23:43,399
Speaker 4: but I need to know these things to put you

540
00:23:43,440 --> 00:23:46,359
Speaker 4: in the best possible position. So the fact that I

541
00:23:46,480 --> 00:23:48,040
Speaker 4: get to ask all of this, I also get to

542
00:23:48,080 --> 00:23:49,719
Speaker 4: be like, hey, jes low key, like do you think

543
00:23:49,760 --> 00:23:50,879
Speaker 4: you'll have a divorce your husband?

544
00:23:51,000 --> 00:23:53,600
Speaker 3: Hey? So what's going on here? How do you want

545
00:23:53,640 --> 00:23:54,320
Speaker 3: to set this up?

546
00:23:54,400 --> 00:23:57,840
Speaker 4: You know, are there any inheritances that you might be

547
00:23:57,920 --> 00:24:00,320
Speaker 4: getting that I need to structure a trust for in

548
00:24:00,359 --> 00:24:04,040
Speaker 4: the future. Like, we're asking some pretty deep questions, so

549
00:24:04,160 --> 00:24:06,680
Speaker 4: I should know you, Yeah, I should know what would

550
00:24:06,720 --> 00:24:08,760
Speaker 4: make you a little bit uncomfortable. I should have already

551
00:24:08,800 --> 00:24:10,800
Speaker 4: asked about your savings, Jesse. If you're saying you've got

552
00:24:10,800 --> 00:24:13,560
Speaker 4: one hundred thousand dollars in savings, gol, how did you

553
00:24:13,680 --> 00:24:13,960
Speaker 4: get that?

554
00:24:14,280 --> 00:24:14,919
Speaker 3: What happens?

555
00:24:14,960 --> 00:24:17,960
Speaker 4: What's your intention? Why did you start saving? Was it

556
00:24:18,080 --> 00:24:21,359
Speaker 4: because you wanted your first home? And have I asked

557
00:24:21,440 --> 00:24:23,320
Speaker 4: if you wanted to do that on your own? Even

558
00:24:23,320 --> 00:24:25,439
Speaker 4: if you've got a husband, you can still go get

559
00:24:25,480 --> 00:24:28,280
Speaker 4: your first homeowners granted by your first apartment on your

560
00:24:28,359 --> 00:24:30,520
Speaker 4: own doesn't mean you're moving into it. It might be

561
00:24:30,560 --> 00:24:35,000
Speaker 4: an investment for financial security for you. So the idea

562
00:24:35,920 --> 00:24:40,760
Speaker 4: that your advisor has made advisements that you're like, oh,

563
00:24:40,960 --> 00:24:43,919
Speaker 4: I don't really feel comfortable with this. Also, sorry, how

564
00:24:43,960 --> 00:24:46,680
Speaker 4: does your future husband feel about putting the house in

565
00:24:46,800 --> 00:24:47,160
Speaker 4: your name?

566
00:24:47,760 --> 00:24:47,800
Speaker 2: Like?

567
00:24:48,160 --> 00:24:49,280
Speaker 3: Do not get me wrong.

568
00:24:49,480 --> 00:24:52,080
Speaker 4: You're about to get married, which means that your finances

569
00:24:52,240 --> 00:24:56,600
Speaker 4: are likely legally going to become intertwined. But we could

570
00:24:56,640 --> 00:24:59,960
Speaker 4: be talking here about a binding financial agreement, going okay, cool,

571
00:25:00,320 --> 00:25:02,800
Speaker 4: You're both coming into this with separate assets. They're called

572
00:25:02,840 --> 00:25:06,440
Speaker 4: pre marrital assets. If you get a divorce. If this

573
00:25:06,560 --> 00:25:09,120
Speaker 4: doesn't work out, what's he taking versus what you're taking?

574
00:25:09,160 --> 00:25:11,680
Speaker 4: Could we get on the same page about that. The

575
00:25:11,800 --> 00:25:14,320
Speaker 4: idea that we're just quickly labeling it and blumping it

576
00:25:14,359 --> 00:25:18,600
Speaker 4: all into one thing makes me relatively uncomfortable. You're also

577
00:25:19,440 --> 00:25:22,639
Speaker 4: not on a level playing field, Like, you've got one

578
00:25:22,680 --> 00:25:25,959
Speaker 4: hundred thousand dollars in savings, but he actually owns an

579
00:25:26,040 --> 00:25:28,720
Speaker 4: existing house and I'm assuming that you know, maybe he

580
00:25:28,800 --> 00:25:30,320
Speaker 4: bought it a few years ago. There might be more

581
00:25:30,320 --> 00:25:33,040
Speaker 4: than one hundred thousand dollars worth of equity in that property, Like,

582
00:25:33,600 --> 00:25:36,240
Speaker 4: are we comfortable with this? Like I could have made

583
00:25:36,280 --> 00:25:38,760
Speaker 4: that recommendation as a financial advisor, and we're not saying

584
00:25:38,760 --> 00:25:40,920
Speaker 4: it's wrong, But I would never want a client to

585
00:25:41,000 --> 00:25:43,879
Speaker 4: see that recommendation on paper and either be surprised by

586
00:25:43,960 --> 00:25:45,600
Speaker 4: it or not feel comfortable with it. It would be

587
00:25:45,600 --> 00:25:48,600
Speaker 4: a recommendation where I've gone, oh, what if we I've

588
00:25:48,600 --> 00:25:51,359
Speaker 4: already asked the questions, You're already comfortable with it before

589
00:25:51,440 --> 00:25:53,879
Speaker 4: we've come to the conclusion of getting it on paper.

590
00:25:54,520 --> 00:25:56,879
Speaker 3: And I mean, you're not wrong. You are a dual citizen.

591
00:25:56,960 --> 00:25:59,680
Speaker 4: This change is tax It also stops you from accessing

592
00:25:59,680 --> 00:26:03,440
Speaker 4: the first homeowners grant. It makes me wonder if you're

593
00:26:03,480 --> 00:26:05,000
Speaker 4: saying that you can't access that.

594
00:26:05,560 --> 00:26:05,920
Speaker 3: I don't know.

595
00:26:06,160 --> 00:26:08,639
Speaker 4: This is just making me overthink Jess. But like if

596
00:26:08,680 --> 00:26:10,800
Speaker 4: you're saying, oh, that means I'm tapped out of that?

597
00:26:11,320 --> 00:26:11,600
Speaker 3: Sorry?

598
00:26:12,000 --> 00:26:14,680
Speaker 4: Is property a priority for you? Accessing that grant? Was

599
00:26:14,760 --> 00:26:17,919
Speaker 4: that a priority for you? Why isn't your advisor planning

600
00:26:17,960 --> 00:26:18,399
Speaker 4: around that?

601
00:26:19,240 --> 00:26:19,560
Speaker 3: I don't know.

602
00:26:19,680 --> 00:26:22,840
Speaker 4: I just feel like there's been a few things that

603
00:26:23,000 --> 00:26:26,000
Speaker 4: have been skipped over. I can't make any recommendations of

604
00:26:26,080 --> 00:26:29,119
Speaker 4: what you should do, because obviously I can't. But my

605
00:26:29,240 --> 00:26:32,320
Speaker 4: recommendation would be get more advice or talk to your advisor.

606
00:26:32,560 --> 00:26:34,960
Speaker 4: I don't think you're being selfish here. I actually think

607
00:26:35,000 --> 00:26:39,480
Speaker 4: you're being really smart. Like financial vulnerability, it's never romantic,

608
00:26:39,800 --> 00:26:42,680
Speaker 4: like there's nothing sexy about it, and protecting yourself doesn't

609
00:26:42,720 --> 00:26:45,359
Speaker 4: mean that you don't love your partner. Lets we need

610
00:26:45,440 --> 00:26:47,760
Speaker 4: to put ourselves in the best possible position, Jess, that's

611
00:26:47,800 --> 00:26:51,399
Speaker 4: why we exist as a business. I guess think of

612
00:26:51,440 --> 00:26:55,640
Speaker 4: it as future you saying thank you for being thoughtful today, Like, yeah,

613
00:26:55,720 --> 00:26:57,800
Speaker 4: I don't know. I just I feel uncomfortable with the

614
00:26:57,880 --> 00:26:59,879
Speaker 4: idea that you're not comfortable with advice, that you're ad

615
00:27:00,280 --> 00:27:00,960
Speaker 4: is giving you to.

616
00:27:01,000 --> 00:27:03,359
Speaker 2: Play devil's advocate, and I agree, like you are so

617
00:27:03,600 --> 00:27:05,639
Speaker 2: well entitled, and I think we all know. I'm the

618
00:27:05,640 --> 00:27:08,600
Speaker 2: biggest proponent for saying protect your own asset to look

619
00:27:08,640 --> 00:27:11,080
Speaker 2: after yourself first, Like I'm not saying that's the wrong choice.

620
00:27:11,240 --> 00:27:12,760
Speaker 2: But I also think it would be worth asking your

621
00:27:12,760 --> 00:27:15,320
Speaker 2: advisor why they gave you the advice, because it may

622
00:27:15,359 --> 00:27:15,720
Speaker 2: be that.

623
00:27:15,880 --> 00:27:18,520
Speaker 3: Where'd this come from, Like is it more advantageous?

624
00:27:18,760 --> 00:27:19,119
Speaker 5: Correct?

625
00:27:19,280 --> 00:27:21,720
Speaker 2: My assumption would be that they made the recommendation to

626
00:27:21,840 --> 00:27:24,520
Speaker 2: do that for a reason. So maybe like if they

627
00:27:24,560 --> 00:27:26,280
Speaker 2: were to say to you, oh, well, it's because you're

628
00:27:26,280 --> 00:27:28,439
Speaker 2: a dual citizen and so by doing XYZ you can

629
00:27:28,480 --> 00:27:30,440
Speaker 2: alleviate this taplele Like, as I said, I don't know

630
00:27:30,520 --> 00:27:32,480
Speaker 2: what leavers and polleys there are because I don't know

631
00:27:32,880 --> 00:27:35,520
Speaker 2: enough about that world. But there may be a reason

632
00:27:35,520 --> 00:27:37,720
Speaker 2: they've made the recommendation that you're not aware of. So

633
00:27:37,920 --> 00:27:40,119
Speaker 2: talking to them before going, oh, I need to get

634
00:27:40,160 --> 00:27:42,440
Speaker 2: a different opinion, I think would be quite weird.

635
00:27:42,800 --> 00:27:45,520
Speaker 4: When I was an advisor, Like, don't get me wrong,

636
00:27:45,600 --> 00:27:47,040
Speaker 4: you didn't know everything that was going to be in

637
00:27:47,080 --> 00:27:49,520
Speaker 4: your say because I hadn't sat down and written it yet.

638
00:27:50,440 --> 00:27:51,679
Speaker 3: But the surprises that.

639
00:27:51,800 --> 00:27:54,080
Speaker 4: Were in your statement of advice, like when you sat

640
00:27:54,119 --> 00:27:56,720
Speaker 4: down and I presented the advice to you, would have

641
00:27:56,880 --> 00:27:59,760
Speaker 4: not been, oh, we're going to invest you already. Would

642
00:27:59,760 --> 00:28:01,879
Speaker 4: have not that that's kind of going to become a

643
00:28:01,920 --> 00:28:04,760
Speaker 4: part of the plan because we're having conversation about it. Yeah,

644
00:28:04,800 --> 00:28:07,720
Speaker 4: But the surprises would have been with gtfs I'm picking

645
00:28:07,800 --> 00:28:10,119
Speaker 4: for you, or which direct shares I'm picking for you,

646
00:28:10,640 --> 00:28:12,800
Speaker 4: or you know, we knew we were going to do

647
00:28:12,880 --> 00:28:15,520
Speaker 4: your insurances, we just don't know who we're going with,

648
00:28:15,840 --> 00:28:19,320
Speaker 4: and your statement of advice would have the insurer I

649
00:28:19,400 --> 00:28:21,600
Speaker 4: think that we're going with and the plan for it.

650
00:28:21,960 --> 00:28:24,080
Speaker 4: You know, if you're planning on saving for a property

651
00:28:24,160 --> 00:28:28,000
Speaker 4: or whatever, it wouldn't be about you know, oh you

652
00:28:28,080 --> 00:28:29,760
Speaker 4: should save for a house and you go, oh god,

653
00:28:29,800 --> 00:28:31,720
Speaker 4: I didn't know I could do that, Like you knew

654
00:28:31,760 --> 00:28:33,359
Speaker 4: that was going to be part of the plan, But

655
00:28:33,480 --> 00:28:36,920
Speaker 4: I've actually done the finances for it. Your statement of

656
00:28:36,960 --> 00:28:40,080
Speaker 4: advice has the time frame when this can happen. How

657
00:28:40,160 --> 00:28:42,520
Speaker 4: much of your budget is being allocated to this? What

658
00:28:42,680 --> 00:28:45,480
Speaker 4: that actually looks like? Your statement of advice? And I

659
00:28:45,600 --> 00:28:47,800
Speaker 4: used to say this to all my clients. There should

660
00:28:47,800 --> 00:28:50,560
Speaker 4: not be surprises in here. We have talked about everything,

661
00:28:50,880 --> 00:28:53,000
Speaker 4: and if there are surprises in here, I haven't done

662
00:28:53,000 --> 00:28:55,480
Speaker 4: my job properly, Like I have not held your hand

663
00:28:55,600 --> 00:28:59,840
Speaker 4: enough through this process. And so maybe I was overkill.

664
00:29:00,360 --> 00:29:02,760
Speaker 4: Gin know what, Sorry, you're paying me, that's my job.

665
00:29:02,880 --> 00:29:05,160
Speaker 4: I should be overkill. And I feel like that's what

666
00:29:05,280 --> 00:29:07,560
Speaker 4: we should be expecting if you're going to pay for

667
00:29:07,680 --> 00:29:10,280
Speaker 4: financial advice, because it's expensive.

668
00:29:09,920 --> 00:29:12,160
Speaker 5: Right, definitely? What did everybody else think?

669
00:29:12,240 --> 00:29:14,520
Speaker 4: So first question we asked was if you were given

670
00:29:14,560 --> 00:29:16,960
Speaker 4: this advice, what would you think? Fifty percent of you

671
00:29:17,200 --> 00:29:20,560
Speaker 4: are with me get a second opinion. Twenty four percent

672
00:29:20,640 --> 00:29:23,480
Speaker 4: of you said good in theory, probably messy in practice,

673
00:29:23,960 --> 00:29:26,880
Speaker 4: fourteen percent said I wouldn't be doing it, and thirteen

674
00:29:26,960 --> 00:29:30,000
Speaker 4: percent said, yeah, it makes sense to join everything. The

675
00:29:30,120 --> 00:29:32,560
Speaker 4: next question we asked was how would you want to

676
00:29:32,640 --> 00:29:37,240
Speaker 4: handle assets pre owned before marriage? Forty seven percent said

677
00:29:37,440 --> 00:29:41,320
Speaker 4: whatever benefits us most financially, thirty one percent said whatever

678
00:29:41,440 --> 00:29:45,880
Speaker 4: gives me the most protection, thirteen percent said keep everything separate,

679
00:29:45,920 --> 00:29:48,120
Speaker 4: and ten percent said just join everything.

680
00:29:48,200 --> 00:29:51,560
Speaker 3: We're married. And then my favorite part, We said, guys,

681
00:29:51,720 --> 00:29:53,080
Speaker 3: what is your two cents?

682
00:29:53,200 --> 00:29:55,760
Speaker 4: And I have collected a few of your responses because,

683
00:29:56,040 --> 00:29:58,000
Speaker 4: as it turns out, we had a lot of opinions.

684
00:29:58,400 --> 00:30:00,840
Speaker 3: There were hundreds of reply on this one.

685
00:30:01,400 --> 00:30:05,520
Speaker 4: First person said, laws change, Look at California House laws

686
00:30:05,560 --> 00:30:08,560
Speaker 4: on splits. I don't know what that means, but I

687
00:30:09,280 --> 00:30:12,680
Speaker 4: laughed at this one. Because we have been trying so hard,

688
00:30:12,800 --> 00:30:14,720
Speaker 4: jest to gain an international audience.

689
00:30:15,560 --> 00:30:16,200
Speaker 3: We've got one.

690
00:30:16,640 --> 00:30:20,240
Speaker 4: Thank you for contributing, Adore, but that's not going to

691
00:30:20,280 --> 00:30:21,959
Speaker 4: help because this listener is in Australia.

692
00:30:22,480 --> 00:30:24,840
Speaker 5: But they're right, laws can change. That's absolutely true.

693
00:30:24,640 --> 00:30:27,440
Speaker 4: But yes, absolutely laws can change. Also, I just was like,

694
00:30:27,560 --> 00:30:30,120
Speaker 4: oh my god, like we're getting this international audience who

695
00:30:30,160 --> 00:30:32,520
Speaker 4: are giving like good advice but also not relevant in

696
00:30:32,600 --> 00:30:33,080
Speaker 4: this situation.

697
00:30:33,200 --> 00:30:34,120
Speaker 3: But please keep giving it.

698
00:30:34,720 --> 00:30:37,240
Speaker 4: Next person said, assets don't lose or gain value with

699
00:30:37,320 --> 00:30:38,680
Speaker 4: an extra name on them.

700
00:30:38,960 --> 00:30:42,280
Speaker 3: I wouldn't be trading security for tradition. Loved that.

701
00:30:43,000 --> 00:30:46,120
Speaker 4: Next person said, divorce rates are currently over fifty percent.

702
00:30:46,560 --> 00:30:49,800
Speaker 4: Keep control of everything that's yours, irrespective of what you

703
00:30:49,880 --> 00:30:52,920
Speaker 4: love and don't. The next person said, never make a

704
00:30:53,000 --> 00:30:55,920
Speaker 4: decision if you're feeling uncomfortable, trust your gut and go

705
00:30:56,080 --> 00:30:59,760
Speaker 4: get a second opinion. Someone said, I've been happily married

706
00:30:59,760 --> 00:31:02,320
Speaker 4: for ten years. We actually still have all of our

707
00:31:02,360 --> 00:31:05,720
Speaker 4: assets separate, but we have some joint expenses. This just

708
00:31:05,800 --> 00:31:09,480
Speaker 4: shows me everyone's money is different, Like there's never a

709
00:31:09,600 --> 00:31:12,560
Speaker 4: financial plan, Like I could give you Stephen my financial

710
00:31:12,640 --> 00:31:15,920
Speaker 4: plan and you could be like in the bin, like

711
00:31:16,160 --> 00:31:16,880
Speaker 4: I'm not doing that.

712
00:31:17,320 --> 00:31:18,720
Speaker 3: And then on the flip side, someone.

713
00:31:18,560 --> 00:31:20,600
Speaker 4: Else might be like, oh, I'm doing that, but we're

714
00:31:20,640 --> 00:31:22,960
Speaker 4: going to tweak X, Y and Z, Like there's no

715
00:31:23,080 --> 00:31:26,120
Speaker 4: one size fits all, which sucks because I could make

716
00:31:26,200 --> 00:31:28,800
Speaker 4: a plan and sell it to you guys for heaps

717
00:31:28,840 --> 00:31:30,280
Speaker 4: of money, but I can't.

718
00:31:30,480 --> 00:31:32,840
Speaker 5: Personal finance is deeply personal exactly.

719
00:31:33,400 --> 00:31:36,080
Speaker 4: Next person said, couples are a team. You can both

720
00:31:36,160 --> 00:31:39,800
Speaker 4: benefit as a team while still protecting each party, which I.

721
00:31:39,800 --> 00:31:40,600
Speaker 3: Think is important.

722
00:31:40,840 --> 00:31:43,440
Speaker 4: I agree with that too, So like, if your financial

723
00:31:43,480 --> 00:31:46,480
Speaker 4: advisory is recommending that you put each other's names on things,

724
00:31:47,040 --> 00:31:51,560
Speaker 4: your husband to be should be as comfortable with either

725
00:31:51,640 --> 00:31:53,520
Speaker 4: doing that if you both want to do that, or

726
00:31:53,680 --> 00:31:55,240
Speaker 4: not doing that and going no, no, no, I want

727
00:31:55,280 --> 00:31:57,760
Speaker 4: to protect Jess like no, like she needs her stuff

728
00:31:57,800 --> 00:32:02,080
Speaker 4: too if this doesn't work out, green flower. Immediately, next

729
00:32:02,160 --> 00:32:05,040
Speaker 4: person said, hope for the best, to plan for the worst.

730
00:32:05,080 --> 00:32:08,160
Speaker 4: Protect your finances. You will know how things will go.

731
00:32:09,440 --> 00:32:12,240
Speaker 4: And then the last one I laughed at maybe because

732
00:32:12,320 --> 00:32:15,239
Speaker 4: like women are seen to be a little bit more

733
00:32:15,280 --> 00:32:19,920
Speaker 4: touchy feely, she's a girl. Go get a female financial advisor, honestly, Yeah,

734
00:32:20,160 --> 00:32:23,120
Speaker 4: go see Daisy at Everest Wealth. She's very popular in

735
00:32:23,240 --> 00:32:26,240
Speaker 4: our community. And you know what, I agree, like the

736
00:32:26,320 --> 00:32:28,320
Speaker 4: amount of and I'm not saying that she's the only

737
00:32:28,400 --> 00:32:30,719
Speaker 4: financial advisor and that you have to have a female,

738
00:32:30,760 --> 00:32:32,760
Speaker 4: but like, sorry, if you want a female Daisy in

739
00:32:32,800 --> 00:32:36,360
Speaker 4: the Everest Wealth girls, I would say Sleigh, all right, Jess,

740
00:32:36,440 --> 00:32:39,360
Speaker 4: I feel like that's probably a good place to leave it.

741
00:32:39,560 --> 00:32:42,560
Speaker 4: As always, if you haven't subscribed, please do so that

742
00:32:42,600 --> 00:32:44,160
Speaker 4: you never miss an episode and.

743
00:32:44,520 --> 00:32:46,640
Speaker 3: We'll see bright and early on Monday morning for a

744
00:32:46,720 --> 00:32:47,320
Speaker 3: money diary.

745
00:32:47,520 --> 00:32:48,000
Speaker 5: Hi, guys.

746
00:32:53,880 --> 00:32:56,000
Speaker 7: The ad buy shared on She's on the Money is

747
00:32:56,120 --> 00:32:59,680
Speaker 7: general in nature and does not consider your individual circumstances.

748
00:33:00,120 --> 00:33:03,440
Speaker 7: She's on the Money exists purely for educational purposes and

749
00:33:03,520 --> 00:33:05,920
Speaker 7: should not be relied upon to make an investment or

750
00:33:06,040 --> 00:33:09,600
Speaker 7: financial decision. If you do choose to buy a financial product,

751
00:33:09,720 --> 00:33:13,520
Speaker 7: read the PDS TMD and obtain appropriate financial advice.

752
00:33:13,280 --> 00:33:14,560
Speaker 3: Tailored towards your needs.

753
00:33:14,960 --> 00:33:18,880
Speaker 7: Victoria Divine and She's on the Money are authorized representatives

754
00:33:18,960 --> 00:33:21,360
Speaker 7: of Money Sherper Pty Ltd.

755
00:33:21,280 --> 00:33:24,320
Speaker 3: ABN three two one IS six four nine two seven

756
00:33:24,480 --> 00:33:24,720
Speaker 3: seven

757
00:33:24,880 --> 00:33:28,320
Speaker 7: Zero eight AFSL four five one two eight nine