1 00:00:00,680 --> 00:00:04,920 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 2 00:00:04,960 --> 00:00:08,680 Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before 3 00:00:08,680 --> 00:00:11,160 Speaker 1: we get started on She's on the Money podcast, I 4 00:00:11,160 --> 00:00:14,319 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:17,720 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,240 Speaker 1: acknowledging the elders, the ancestors and the next generation coming 7 00:00:22,320 --> 00:00:26,960 Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing 8 00:00:27,080 --> 00:00:30,120 Speaker 1: and the storytelling of you to make a difference for 9 00:00:30,240 --> 00:00:32,640 Speaker 1: today and lasting impact for tomorrow. 10 00:00:33,320 --> 00:00:37,120 Speaker 2: Let's get into it. She's on the Money. She's on 11 00:00:37,159 --> 00:01:00,000 Speaker 2: the Money. Hello, and welcome to She's on the Money, 12 00:01:00,080 --> 00:01:03,960 Speaker 2: the podcast for millennials who want financial freedom. Today, my friends, 13 00:01:04,000 --> 00:01:05,959 Speaker 2: is Friday, which means it is time to get my 14 00:01:06,040 --> 00:01:09,480 Speaker 2: little team together and celebrate you ow incredible. She's on 15 00:01:09,520 --> 00:01:11,800 Speaker 2: the Money community. Today, we're going to be sharing our 16 00:01:11,800 --> 00:01:13,720 Speaker 2: favorite money wins of the week, or as always, miss 17 00:01:13,840 --> 00:01:16,319 Speaker 2: Jess Gricci, you will be sharing the favorite money wins 18 00:01:16,319 --> 00:01:18,280 Speaker 2: of the week. We're going to be helping to answer 19 00:01:18,280 --> 00:01:20,560 Speaker 2: a juicy money dilemma, which this week is all about 20 00:01:20,600 --> 00:01:22,800 Speaker 2: whether you should be using your savings to set up 21 00:01:22,840 --> 00:01:25,080 Speaker 2: your small business or not. And we're going to be 22 00:01:25,160 --> 00:01:27,920 Speaker 2: unpacking something that you guys slid into our DMS about 23 00:01:28,000 --> 00:01:30,399 Speaker 2: living on a pension. I feel like this is going 24 00:01:30,480 --> 00:01:33,120 Speaker 2: to be a really interesting juxtaposition talking about savings and 25 00:01:33,120 --> 00:01:35,399 Speaker 2: setting up a small business versus actually living on a 26 00:01:35,440 --> 00:01:37,520 Speaker 2: pension and how to budget and how to save and 27 00:01:37,560 --> 00:01:40,320 Speaker 2: like actually how to survive. But let's start with our 28 00:01:40,400 --> 00:01:44,520 Speaker 2: little team, Beck, how was your week really good? It's 29 00:01:44,520 --> 00:01:46,800 Speaker 2: because you saw Jess and I right, Yes, that definitely 30 00:01:46,920 --> 00:01:49,720 Speaker 2: helped that I saw you guys, of course, but also 31 00:01:50,760 --> 00:01:53,800 Speaker 2: I know that only u V might have context for this. Okay, 32 00:01:53,800 --> 00:01:56,040 Speaker 2: well this is probably really good then to share on 33 00:01:56,080 --> 00:01:58,480 Speaker 2: a podcast to a billion people. Yeah, it could be 34 00:01:58,480 --> 00:02:00,000 Speaker 2: good because no one else will know what's going on. 35 00:02:00,040 --> 00:02:02,680 Speaker 3: But I applied for a job this last couple of 36 00:02:02,720 --> 00:02:04,720 Speaker 3: weeks and I got it. 37 00:02:04,880 --> 00:02:08,160 Speaker 2: Yeah. I'm so excited. You got it. 38 00:02:08,280 --> 00:02:09,240 Speaker 4: I'm so excited. 39 00:02:09,280 --> 00:02:10,840 Speaker 2: And I mean that doesn't mean she's leaving. She's on 40 00:02:10,840 --> 00:02:13,760 Speaker 2: the money, guys, she just arrived and it's your full time, 41 00:02:14,160 --> 00:02:14,760 Speaker 2: legit job. 42 00:02:14,880 --> 00:02:19,200 Speaker 3: It means that I will be going from literally drowning 43 00:02:19,480 --> 00:02:23,120 Speaker 3: every single month to being a little bit more. 44 00:02:23,320 --> 00:02:28,240 Speaker 4: I'm so proud I got the job, that's all. 45 00:02:28,800 --> 00:02:31,680 Speaker 2: I'm actually so excited. I've been so low key, you 46 00:02:31,680 --> 00:02:34,320 Speaker 2: know how you shouldn't ask people like you shouldn't be like, oh, 47 00:02:34,760 --> 00:02:37,000 Speaker 2: did you get the job? And like obviously knew replied, 48 00:02:37,040 --> 00:02:39,400 Speaker 2: And we've been talking about it like you can't just go, 49 00:02:39,560 --> 00:02:41,360 Speaker 2: oh did you get it because like you might go, no, 50 00:02:41,480 --> 00:02:43,840 Speaker 2: I didn't get it, Like and that's that's a really 51 00:02:44,040 --> 00:02:45,520 Speaker 2: not a nice thing to bring up. And you might 52 00:02:45,520 --> 00:02:47,679 Speaker 2: have been upset about it. Yeah, you waited deal. 53 00:02:47,720 --> 00:02:48,560 Speaker 1: It was on the pod to. 54 00:02:48,520 --> 00:02:51,240 Speaker 5: Share that dirty dog. 55 00:02:51,320 --> 00:02:53,960 Speaker 2: I love it, Jess. I'm hoping you don't have the 56 00:02:54,000 --> 00:02:56,919 Speaker 2: same news because I'll be sot a job. 57 00:02:57,240 --> 00:03:00,239 Speaker 6: No, no, no, I have nothing that could action. You know, 58 00:03:00,280 --> 00:03:03,040 Speaker 6: when these peas don't leave me this. 59 00:03:02,480 --> 00:03:02,959 Speaker 4: I won't. 60 00:03:03,120 --> 00:03:05,280 Speaker 6: Well, I will leave you, but I'll leave with you 61 00:03:05,320 --> 00:03:07,520 Speaker 6: to go. Where are we going, Sydney? Well, this week 62 00:03:07,560 --> 00:03:08,760 Speaker 6: we went to Perth and Brisbane. 63 00:03:08,919 --> 00:03:11,640 Speaker 2: We do. That's why we didn't know what Beck was. 64 00:03:12,080 --> 00:03:15,960 Speaker 6: Literally well in Brobeck still love you were in Brisbane today. 65 00:03:16,160 --> 00:03:18,080 Speaker 6: Thank you so much to everyone who spent their morning 66 00:03:18,080 --> 00:03:19,600 Speaker 6: with us, and thank you so much everyone who came 67 00:03:19,639 --> 00:03:21,360 Speaker 6: out in Perth for our first time ever. 68 00:03:21,639 --> 00:03:24,359 Speaker 2: I actually can't stop. All I do is cry beck. 69 00:03:24,520 --> 00:03:26,960 Speaker 2: Like when we have live events, I find it so 70 00:03:27,160 --> 00:03:29,840 Speaker 2: overwhelming and I thought this would get better time and 71 00:03:29,880 --> 00:03:34,480 Speaker 2: it's just no word. Yeah, it's actually so beautiful. Like 72 00:03:34,560 --> 00:03:37,480 Speaker 2: you go to these events and it's full of people 73 00:03:37,680 --> 00:03:39,520 Speaker 2: all on the same page, right, like, and it's not 74 00:03:39,640 --> 00:03:41,400 Speaker 2: that common that you'll go to like I don't know, 75 00:03:41,640 --> 00:03:43,000 Speaker 2: you go to a concert, right, and you'll be in 76 00:03:43,040 --> 00:03:45,080 Speaker 2: the same room as people who all have bonavert right, 77 00:03:45,160 --> 00:03:46,600 Speaker 2: and you're kind of like, yeah, cool, But we're all 78 00:03:46,600 --> 00:03:49,160 Speaker 2: eclectic and we just have this one shared like interest. 79 00:03:49,560 --> 00:03:51,880 Speaker 2: We don't actually have that much in common. But I 80 00:03:51,880 --> 00:03:53,360 Speaker 2: feel like when you get the Ches on the Money 81 00:03:53,360 --> 00:03:57,640 Speaker 2: community together, it's really it's a very similar personality type, 82 00:03:57,760 --> 00:04:00,320 Speaker 2: Like we all want the best for each other. All 83 00:04:00,480 --> 00:04:02,360 Speaker 2: you know, care about our saving and our spending. We 84 00:04:02,400 --> 00:04:06,280 Speaker 2: all care about similar things. And often people have really 85 00:04:06,280 --> 00:04:09,840 Speaker 2: beautiful personal stories that intertwine into the community and make 86 00:04:09,840 --> 00:04:12,560 Speaker 2: the community even stronger. And as much as I love 87 00:04:12,600 --> 00:04:15,120 Speaker 2: hearing them, I find them so overwhelming. Like if people 88 00:04:15,120 --> 00:04:16,919 Speaker 2: come up and they say, hey, they like, you know, 89 00:04:17,320 --> 00:04:18,880 Speaker 2: like so excited to be here, and I'll be so 90 00:04:18,920 --> 00:04:20,800 Speaker 2: excited too, Like I just wanted to let you know 91 00:04:20,839 --> 00:04:22,680 Speaker 2: that I listened to your podcast and got out of 92 00:04:22,680 --> 00:04:25,839 Speaker 2: debt because of you. Like that does not get old. 93 00:04:26,240 --> 00:04:28,760 Speaker 2: Like that to me, and Jess is exactly the same. 94 00:04:28,880 --> 00:04:32,560 Speaker 2: Like it's overwhelming to think that our little podcasts that 95 00:04:32,600 --> 00:04:34,599 Speaker 2: we you know, do from our studio every week in 96 00:04:34,640 --> 00:04:37,040 Speaker 2: our active wear and like have my dog here, like 97 00:04:37,320 --> 00:04:40,760 Speaker 2: that changes people's lives. Like and music is you know, 98 00:04:40,960 --> 00:04:44,080 Speaker 2: obviously really important. But when you look at a community 99 00:04:44,160 --> 00:04:46,120 Speaker 2: like She's on the money, you just know there are 100 00:04:46,120 --> 00:04:49,000 Speaker 2: people who've gotten out of traumatic relationships because of us. 101 00:04:49,040 --> 00:04:51,760 Speaker 2: They've gotten out of abusive situations, they finally have savings, 102 00:04:51,800 --> 00:04:54,520 Speaker 2: they're not living paycheck to paycheck. They've you know, saved 103 00:04:54,560 --> 00:04:56,680 Speaker 2: for their first home, or they've just bought their first car, 104 00:04:56,839 --> 00:04:59,760 Speaker 2: or they've done something that has put themselves in the 105 00:04:59,800 --> 00:05:02,800 Speaker 2: best possible position. And I think it's just it's crazy. Anyway, 106 00:05:02,800 --> 00:05:04,719 Speaker 2: all I do is cry. So if you saw me 107 00:05:04,760 --> 00:05:06,239 Speaker 2: crying this week, sorry not sorry. 108 00:05:06,360 --> 00:05:09,080 Speaker 4: Yeah that's really amazing because I love you. An incredible 109 00:05:09,120 --> 00:05:10,160 Speaker 4: week all round for the team. 110 00:05:10,200 --> 00:05:12,880 Speaker 2: It sounds like, yeah, it's literally my favorite thing ever. 111 00:05:13,000 --> 00:05:15,720 Speaker 2: But let's get into this because this week we didn't 112 00:05:15,760 --> 00:05:18,640 Speaker 2: miss a beat. We also asked about our community money wins, 113 00:05:18,800 --> 00:05:20,320 Speaker 2: and we always want to know what you guys are 114 00:05:20,400 --> 00:05:23,080 Speaker 2: up to literally every week. So Jess, you've got a 115 00:05:23,080 --> 00:05:24,640 Speaker 2: few that you've pulled out that you would like to 116 00:05:24,640 --> 00:05:26,240 Speaker 2: share on the show. What are they? What have we 117 00:05:26,279 --> 00:05:26,760 Speaker 2: got do? 118 00:05:27,080 --> 00:05:29,120 Speaker 6: First money when this week comes from Kate, who said 119 00:05:29,160 --> 00:05:30,440 Speaker 6: I'm going to Europe for the summer. 120 00:05:30,600 --> 00:05:31,640 Speaker 2: Lucky hot girl. 121 00:05:31,720 --> 00:05:34,120 Speaker 4: I booked an intrepid tour for Portugal. 122 00:05:33,680 --> 00:05:36,320 Speaker 6: Ages ago and recently saw a twenty five percent off 123 00:05:36,360 --> 00:05:39,120 Speaker 6: sale for my tour day. Thought it wouldn't have to 124 00:05:39,120 --> 00:05:41,320 Speaker 6: ask if I could redeem the discount on my car. 125 00:05:41,480 --> 00:05:45,159 Speaker 6: That's a lot of money. Surprisingly, they said yes, and 126 00:05:45,240 --> 00:05:47,520 Speaker 6: I now have one thousand extra dollars to spledge on 127 00:05:47,600 --> 00:05:48,600 Speaker 6: Portuguese tarts. 128 00:05:48,720 --> 00:05:51,279 Speaker 2: Oh my god, amazing Portuguese tarts are good. 129 00:05:51,440 --> 00:05:54,120 Speaker 6: There are literally about six comments underneath her comments saying, 130 00:05:54,160 --> 00:05:56,400 Speaker 6: oh my god, I love Portuguese. I love it. 131 00:05:56,480 --> 00:05:57,600 Speaker 2: That's what people got out of this. 132 00:05:57,920 --> 00:06:00,279 Speaker 6: But also if you don't ask, you don't get I'm 133 00:06:00,279 --> 00:06:02,279 Speaker 6: really impressed that they honored it, to be honest, because 134 00:06:02,320 --> 00:06:04,440 Speaker 6: I need to drink it. My next money wind comes 135 00:06:04,480 --> 00:06:07,480 Speaker 6: from Bianca, who said life win settlement for my first 136 00:06:07,480 --> 00:06:10,000 Speaker 6: home was last week, and I'm feeling so silly, proud 137 00:06:10,000 --> 00:06:12,080 Speaker 6: of myself for being able to achieve this all on 138 00:06:12,160 --> 00:06:12,560 Speaker 6: my own. 139 00:06:12,839 --> 00:06:15,160 Speaker 2: I'm so pressed. Still feels surreal. 140 00:06:14,839 --> 00:06:15,599 Speaker 4: That it's mine. 141 00:06:15,680 --> 00:06:17,760 Speaker 6: And there's a cute little photo of her dogg O 142 00:06:17,880 --> 00:06:21,479 Speaker 6: living on her front. 143 00:06:21,640 --> 00:06:22,560 Speaker 2: No, I'm sure he lives. 144 00:06:22,600 --> 00:06:23,239 Speaker 4: That's his house. 145 00:06:23,279 --> 00:06:25,800 Speaker 2: Now, that's his house. That's so you bought a house 146 00:06:25,800 --> 00:06:27,800 Speaker 2: so that your dog could live their best life all 147 00:06:27,839 --> 00:06:28,480 Speaker 2: by yourself. 148 00:06:28,480 --> 00:06:29,600 Speaker 4: Good on you, queen. 149 00:06:30,040 --> 00:06:32,400 Speaker 6: My next money win comes from Murphy, who says it's 150 00:06:32,440 --> 00:06:35,839 Speaker 6: taken six years, but we are finally consumer debt free. Yes, 151 00:06:36,279 --> 00:06:39,279 Speaker 6: seventeen hundred dollars a month in personal loan repayments is 152 00:06:39,320 --> 00:06:41,680 Speaker 6: something I never want to go back to. My partner 153 00:06:41,680 --> 00:06:44,120 Speaker 6: and I were both stuck in the cycle paying off 154 00:06:44,160 --> 00:06:47,159 Speaker 6: one and taking on another. Never again. I'm so proud 155 00:06:47,160 --> 00:06:48,800 Speaker 6: of you, Murphy. Murphy's been in the community for a 156 00:06:48,800 --> 00:06:49,720 Speaker 6: really long time, and. 157 00:06:49,880 --> 00:06:53,440 Speaker 2: Name feels really familiar with your phone. Oh my gosh. No, 158 00:06:53,560 --> 00:06:57,919 Speaker 2: we do definitely know Murphy. Well done. That is a 159 00:06:57,960 --> 00:06:59,160 Speaker 2: month think about. 160 00:06:58,960 --> 00:07:03,279 Speaker 4: What Yeah, yeah, you're not going to know yourself. 161 00:07:03,440 --> 00:07:05,800 Speaker 6: Nah, it's going to be incredible. My next money win 162 00:07:05,880 --> 00:07:08,440 Speaker 6: comes from a Lease who said money win. I am 163 00:07:08,640 --> 00:07:11,520 Speaker 6: terrible at sticking to budgets because of FOMO. Until now, 164 00:07:11,560 --> 00:07:13,840 Speaker 6: I've had all my money in one big savings bucket, 165 00:07:13,840 --> 00:07:16,640 Speaker 6: and I've always dipped into it to overspend. Recently, I've 166 00:07:16,680 --> 00:07:19,360 Speaker 6: split my savings into sub accounts where I now put 167 00:07:19,400 --> 00:07:21,800 Speaker 6: how much I'm willing to spend for the year on 168 00:07:22,160 --> 00:07:25,280 Speaker 6: different categories like entertainment events, eating out, et cetera. And 169 00:07:25,320 --> 00:07:27,760 Speaker 6: when it runs out, it's out. So far, I'm already 170 00:07:27,800 --> 00:07:29,840 Speaker 6: way more conscious of my budget and I'm spending well 171 00:07:29,880 --> 00:07:31,200 Speaker 6: within my means. 172 00:07:31,320 --> 00:07:33,440 Speaker 4: Queen behavior, we love to see it. 173 00:07:33,680 --> 00:07:35,920 Speaker 6: And then my lucky last win for this week comes 174 00:07:35,960 --> 00:07:38,600 Speaker 6: from Georgia, who said, after almost a year off of 175 00:07:38,640 --> 00:07:41,640 Speaker 6: work battling with health issues, I finally got myself a 176 00:07:41,680 --> 00:07:44,360 Speaker 6: suitable job and I worked my first eight hour day 177 00:07:44,440 --> 00:07:46,720 Speaker 6: in as long as I can remember on Saturday. It's 178 00:07:46,760 --> 00:07:48,480 Speaker 6: a big money win for my partner and I who 179 00:07:48,520 --> 00:07:51,280 Speaker 6: have just been getting buy on one income. Oh congrats, 180 00:07:51,400 --> 00:07:54,160 Speaker 6: How exciting gratulations Georgia, and just goes to show the 181 00:07:54,160 --> 00:07:57,360 Speaker 6: importance of flexible roles and roles that can offer you 182 00:07:57,440 --> 00:08:00,360 Speaker 6: support or things that you need. Because she sounds she's 183 00:08:00,360 --> 00:08:02,960 Speaker 6: capable and she's excited to be working an eight hour day, 184 00:08:03,080 --> 00:08:05,320 Speaker 6: and I'm just so excited that you found an employer 185 00:08:05,400 --> 00:08:06,120 Speaker 6: who can let you do that. 186 00:08:06,200 --> 00:08:08,680 Speaker 2: I think we'll forget what a privilege that is like. 187 00:08:08,720 --> 00:08:10,760 Speaker 2: To be able to go to work for an entire 188 00:08:10,880 --> 00:08:14,560 Speaker 2: day and be able to have an uninterrupted work day 189 00:08:14,640 --> 00:08:17,840 Speaker 2: because our health allows us to like that is so special. 190 00:08:18,320 --> 00:08:20,240 Speaker 2: Let's go to a really quick break, though, because, as 191 00:08:20,280 --> 00:08:22,320 Speaker 2: you guys know, I'm wildly passionate about small business and 192 00:08:22,360 --> 00:08:24,320 Speaker 2: the next question that is coming up after the break 193 00:08:24,360 --> 00:08:26,400 Speaker 2: is about whether you should spend your savings on setting 194 00:08:26,480 --> 00:08:28,560 Speaker 2: up a small business. And we're going to be discussing 195 00:08:28,560 --> 00:08:30,960 Speaker 2: getting by on a pension, So don't go anywhere, guys. 196 00:08:35,800 --> 00:08:36,959 Speaker 4: Welcome back, everybody. 197 00:08:37,120 --> 00:08:39,520 Speaker 6: Let's get into one of my favorite parts of the week, 198 00:08:39,640 --> 00:08:40,439 Speaker 6: the money dilemma. 199 00:08:40,720 --> 00:08:45,120 Speaker 2: Let's have a listen. Hi, there, have you got a 200 00:08:45,120 --> 00:08:47,680 Speaker 2: money dilemma you just can't solve that. She's on the 201 00:08:47,679 --> 00:08:50,760 Speaker 2: Money team is here to help. Every week we tackle 202 00:08:50,800 --> 00:08:53,440 Speaker 2: your dilemmas, both big and small, to answer your most 203 00:08:53,480 --> 00:08:57,080 Speaker 2: burning money, career and life questions. To get involved, simply 204 00:08:57,080 --> 00:08:59,199 Speaker 2: head to our website and leave us a short voice 205 00:08:59,240 --> 00:09:02,120 Speaker 2: recording and you, oh, I just find yourself on the show. Now, 206 00:09:02,240 --> 00:09:04,559 Speaker 2: let's take a listen to this week's money dilemma. 207 00:09:06,559 --> 00:09:07,560 Speaker 4: Hi, She's on the Money. 208 00:09:07,880 --> 00:09:11,280 Speaker 5: My question is about small business. I am a sole trader, 209 00:09:11,360 --> 00:09:14,000 Speaker 5: and I am moving from my home office into a 210 00:09:14,040 --> 00:09:17,359 Speaker 5: commercial space that I'm turning into a clinic and office. 211 00:09:17,960 --> 00:09:21,720 Speaker 5: I am having the hardest time spending my savings to 212 00:09:21,760 --> 00:09:23,960 Speaker 5: set this up. I originally thought I would get a 213 00:09:23,960 --> 00:09:27,120 Speaker 5: business loan, but I realized it makes a lot better 214 00:09:27,200 --> 00:09:29,800 Speaker 5: sense to use my own money rather than be in debt. 215 00:09:30,120 --> 00:09:33,160 Speaker 5: But I'm just having the hardest time spending my own money, 216 00:09:33,400 --> 00:09:36,760 Speaker 5: my own savings. I'm not sure what's going on, but 217 00:09:36,920 --> 00:09:39,439 Speaker 5: I just can't seem to part with this money. I 218 00:09:39,480 --> 00:09:42,160 Speaker 5: know that investing in myself is going to bring me 219 00:09:42,200 --> 00:09:43,760 Speaker 5: more money at the end of the day, but I 220 00:09:43,920 --> 00:09:46,480 Speaker 5: just can't do it. Please give me some advice. 221 00:09:47,040 --> 00:09:49,680 Speaker 2: That is a really good question, and it's one that 222 00:09:49,720 --> 00:09:52,120 Speaker 2: when I was setting up Shees on the Money and Zella, 223 00:09:52,720 --> 00:09:55,880 Speaker 2: I felt sick about, like I would consistently not know 224 00:09:55,960 --> 00:09:58,800 Speaker 2: if I was doing the right thing. From my perspective, 225 00:09:59,080 --> 00:10:01,600 Speaker 2: I think you are doing the right thing spending your 226 00:10:01,760 --> 00:10:05,760 Speaker 2: money that you already have instead of getting a business loan. Obviously, 227 00:10:06,040 --> 00:10:09,680 Speaker 2: business loans have higher interest rates than you know, a 228 00:10:09,760 --> 00:10:12,040 Speaker 2: home loan, and at the moment, with the interest as 229 00:10:12,120 --> 00:10:14,360 Speaker 2: high as it is, if you can do anything to 230 00:10:14,400 --> 00:10:18,040 Speaker 2: avoid that, that is fantastic. It is a massive privilege 231 00:10:18,120 --> 00:10:21,000 Speaker 2: to have the savings to be able to invest into 232 00:10:21,040 --> 00:10:23,760 Speaker 2: a business, and I think that's really really special. But 233 00:10:23,840 --> 00:10:26,920 Speaker 2: the thing I really struggled with guys was actually just 234 00:10:26,920 --> 00:10:29,160 Speaker 2: not having a plan. I think when you are starting 235 00:10:29,160 --> 00:10:32,160 Speaker 2: a small business, you just don't think enough. And you 236 00:10:32,160 --> 00:10:34,640 Speaker 2: would think that a financial advisor or an ex financial 237 00:10:34,640 --> 00:10:36,760 Speaker 2: advisor would have thought about the budget, but like when 238 00:10:36,760 --> 00:10:39,960 Speaker 2: it comes to your own house or your own financial situation, 239 00:10:40,240 --> 00:10:42,440 Speaker 2: sometimes you just don't do the maths in the way 240 00:10:42,440 --> 00:10:45,520 Speaker 2: that you should. And it felt really hard to separate 241 00:10:45,600 --> 00:10:47,839 Speaker 2: from the money. And let's talk about this clinic you're 242 00:10:47,840 --> 00:10:50,120 Speaker 2: setting up. I'm assuming you're like, yep, I know, I've 243 00:10:50,120 --> 00:10:52,800 Speaker 2: got savings. Let's start setting up the clinic. Have you 244 00:10:52,840 --> 00:10:55,480 Speaker 2: got a budget? Have you actually worked out what that 245 00:10:55,520 --> 00:10:58,640 Speaker 2: clinic's going to cost? We're talking rent and overhead expenses, 246 00:10:58,640 --> 00:11:00,760 Speaker 2: we're talking about fit out, but what is it going 247 00:11:00,840 --> 00:11:02,880 Speaker 2: to cost to you know, if you need a receptionist, 248 00:11:03,000 --> 00:11:05,520 Speaker 2: what's that going to look like? Have we actually worked 249 00:11:05,559 --> 00:11:07,920 Speaker 2: out what this is. How much is that business going 250 00:11:07,920 --> 00:11:10,960 Speaker 2: to cost you per month to run? Like what is 251 00:11:11,000 --> 00:11:13,360 Speaker 2: the minimum amount of money that you would need coming 252 00:11:13,400 --> 00:11:16,200 Speaker 2: in the door for that business to make sense? And 253 00:11:16,240 --> 00:11:18,400 Speaker 2: I think that once you have that structure and you 254 00:11:18,440 --> 00:11:21,080 Speaker 2: can say, okay, well, actually i've worked out that you know, 255 00:11:21,480 --> 00:11:24,920 Speaker 2: hypothetically rents one thousand dollars, my overheads are five hundred dollars, 256 00:11:24,960 --> 00:11:27,400 Speaker 2: you know, all of the fit out over this period 257 00:11:27,480 --> 00:11:30,040 Speaker 2: of time, because a fit out can be really expensive 258 00:11:30,080 --> 00:11:32,440 Speaker 2: of a facility, right like when it comes to setting 259 00:11:32,480 --> 00:11:35,600 Speaker 2: up an office. I don't think people understand how expensive 260 00:11:35,640 --> 00:11:38,400 Speaker 2: it can be. Like rent often when you sign a 261 00:11:38,480 --> 00:11:41,760 Speaker 2: lease usually is five years as a rental period for 262 00:11:41,880 --> 00:11:44,480 Speaker 2: a commercial space. Then on top of that, if it 263 00:11:44,480 --> 00:11:46,200 Speaker 2: doesn't come with like desks and chairs, and if you're 264 00:11:46,200 --> 00:11:48,440 Speaker 2: starting up a clinic, you probably need something specific. We're 265 00:11:48,480 --> 00:11:51,480 Speaker 2: talking ten twenty thirty thousand dollars to set you up 266 00:11:51,520 --> 00:11:54,040 Speaker 2: for success. So I can see why it's really hard 267 00:11:54,040 --> 00:11:56,240 Speaker 2: to separate from that money. But what we need to 268 00:11:56,240 --> 00:11:58,360 Speaker 2: do is actually create the structure. So if you go, 269 00:11:58,400 --> 00:12:01,400 Speaker 2: all right, well I'm going to spend thirty thousand dollars, 270 00:12:01,480 --> 00:12:03,560 Speaker 2: let's just say, on this fit out for this clinic, 271 00:12:03,640 --> 00:12:06,240 Speaker 2: because obviously you've gotten to a point where your business 272 00:12:06,280 --> 00:12:07,520 Speaker 2: is doing well and you want to take it to 273 00:12:07,520 --> 00:12:10,200 Speaker 2: the next level. How are you paying yourself back? Let's 274 00:12:10,240 --> 00:12:13,880 Speaker 2: pretend that's alone. Let's pretend that those savings are a 275 00:12:13,920 --> 00:12:16,840 Speaker 2: loan facility and that you're just borrowing them off yourself 276 00:12:16,920 --> 00:12:19,320 Speaker 2: to pay back later. So if that's thirty thousand dollars, 277 00:12:19,400 --> 00:12:22,440 Speaker 2: let's go, all right, what period of time feels reasonable? 278 00:12:22,520 --> 00:12:24,360 Speaker 2: Are we going to pay it back over twelve months, 279 00:12:24,520 --> 00:12:27,160 Speaker 2: maybe three years? What does that look like? Maybe I 280 00:12:27,200 --> 00:12:29,760 Speaker 2: pay back ten thousand dollars a year towards that. So 281 00:12:29,880 --> 00:12:32,600 Speaker 2: you're going to feel a lot more comfortable because you 282 00:12:32,800 --> 00:12:36,720 Speaker 2: personally aren't being put at a detriment because you're setting 283 00:12:36,800 --> 00:12:39,960 Speaker 2: up this small business. And sometimes as small business owners, 284 00:12:39,960 --> 00:12:42,560 Speaker 2: we forget that we need to put ourselves first. We 285 00:12:42,600 --> 00:12:44,760 Speaker 2: forget to pay ourselves. We don't pay ourselves super, we 286 00:12:44,800 --> 00:12:46,880 Speaker 2: don't actually do the things that we're meant to do, 287 00:12:47,280 --> 00:12:49,840 Speaker 2: and sometimes that means pouring all of our savings in 288 00:12:49,880 --> 00:12:52,920 Speaker 2: and pretending like it's a lost cause. I think making 289 00:12:52,960 --> 00:12:55,800 Speaker 2: sure that any money you put into your business, your 290 00:12:55,840 --> 00:12:57,920 Speaker 2: business pays you back, and I think that if you 291 00:12:57,920 --> 00:12:59,719 Speaker 2: can start seeing it that way, you'll be a bit 292 00:12:59,720 --> 00:13:03,080 Speaker 2: more confident because you're then making an investment that's going 293 00:13:03,120 --> 00:13:05,320 Speaker 2: to be paid back, and then that investment is going 294 00:13:05,320 --> 00:13:08,679 Speaker 2: to generate more income. So, from my perspective, if you're 295 00:13:08,679 --> 00:13:11,720 Speaker 2: setting up a small business and relying on your savings, 296 00:13:12,240 --> 00:13:15,720 Speaker 2: pretend those savings are alone, but from yourself, we want 297 00:13:15,720 --> 00:13:17,280 Speaker 2: to pay it back because I don't want you to 298 00:13:17,320 --> 00:13:20,280 Speaker 2: be without that thirty thousand dollars hypothetically right, I actually 299 00:13:20,320 --> 00:13:22,400 Speaker 2: want you to be in the best position. And if 300 00:13:22,440 --> 00:13:23,920 Speaker 2: you want to be a little bit cheeky add an 301 00:13:23,920 --> 00:13:25,880 Speaker 2: interest rate, be like, all right, well, I'm also going 302 00:13:25,920 --> 00:13:27,720 Speaker 2: to pay back five percent. I'm going to be in 303 00:13:27,720 --> 00:13:30,320 Speaker 2: a better off position. And then also my other advice 304 00:13:30,360 --> 00:13:32,320 Speaker 2: would be please set up in that budget you to 305 00:13:32,360 --> 00:13:34,440 Speaker 2: pay you super and make sure that you are being 306 00:13:34,440 --> 00:13:37,320 Speaker 2: put first, because to bring the mood down for a 307 00:13:37,360 --> 00:13:41,080 Speaker 2: hot second, most small businesses don't make it to ten years, 308 00:13:41,160 --> 00:13:43,960 Speaker 2: and I don't want you in ten years time to 309 00:13:43,960 --> 00:13:46,240 Speaker 2: be behind the apall when it comes to being able 310 00:13:46,280 --> 00:13:49,319 Speaker 2: to retire. I want every small business owner that goes 311 00:13:49,360 --> 00:13:51,800 Speaker 2: into business to be able to you know, if it's 312 00:13:51,800 --> 00:13:55,119 Speaker 2: not working out, step away and not have been negatively 313 00:13:55,200 --> 00:13:58,800 Speaker 2: impacted by that experience because it happens, right, small businesses 314 00:13:58,880 --> 00:14:00,320 Speaker 2: might not work out, It might not be what you 315 00:14:00,360 --> 00:14:02,640 Speaker 2: thought it was going to be. At least then you 316 00:14:02,640 --> 00:14:04,360 Speaker 2: can go all right, just going to go get a 317 00:14:04,360 --> 00:14:06,760 Speaker 2: salary and way journing job. This definitely wasn't for me, 318 00:14:07,160 --> 00:14:09,880 Speaker 2: but you're not behind because you always put yourself first. 319 00:14:10,240 --> 00:14:12,000 Speaker 2: There's a really good book. I've talked about it on 320 00:14:12,040 --> 00:14:14,080 Speaker 2: the podcast before and I've also talked about it on 321 00:14:14,120 --> 00:14:17,360 Speaker 2: the Business Bible, which is our business podcast, and it's 322 00:14:17,400 --> 00:14:20,600 Speaker 2: called Profit First. And if you are a small business owner, 323 00:14:20,680 --> 00:14:23,560 Speaker 2: I really recommend reading that because it's really about reverse 324 00:14:23,600 --> 00:14:26,760 Speaker 2: engineering how profit is distributed in a business to make 325 00:14:26,760 --> 00:14:29,560 Speaker 2: sure that you are financially okay. Because I think that 326 00:14:29,600 --> 00:14:32,920 Speaker 2: there's this really toxic mentality of all right, you've got 327 00:14:32,920 --> 00:14:35,200 Speaker 2: to be really hard and you've got to struggle for 328 00:14:35,200 --> 00:14:37,520 Speaker 2: the first ten years and every single dollar needs to 329 00:14:37,560 --> 00:14:40,280 Speaker 2: be reinvested into your business and if it's not, you're 330 00:14:40,320 --> 00:14:42,520 Speaker 2: not going to have a successful business. I don't believe 331 00:14:42,560 --> 00:14:44,480 Speaker 2: that to be true because they needs to be work 332 00:14:44,520 --> 00:14:46,520 Speaker 2: life balanced and if I'm burning you out for the 333 00:14:46,560 --> 00:14:49,640 Speaker 2: next ten years because you're sacrificing everything. You're not going 334 00:14:49,720 --> 00:14:51,840 Speaker 2: to want the business in ten years, so let's make 335 00:14:51,920 --> 00:14:55,680 Speaker 2: it sustainable. But back to the original question, I think 336 00:14:55,720 --> 00:14:57,880 Speaker 2: that you're probably doing the right thing. You just don't 337 00:14:57,880 --> 00:15:01,000 Speaker 2: have enough structure around how to implement. Meant that strategy 338 00:15:01,200 --> 00:15:03,520 Speaker 2: and a budget literally going to be your best friend. 339 00:15:03,640 --> 00:15:05,200 Speaker 6: And you'd want to be making sure as well that 340 00:15:05,320 --> 00:15:07,760 Speaker 6: if you're pulling money out of your savings, like your 341 00:15:07,760 --> 00:15:10,440 Speaker 6: personal savings, that you're leaving yourself one your own personal 342 00:15:10,520 --> 00:15:13,160 Speaker 6: emergency fund to patent. Would we also be wanting to 343 00:15:13,200 --> 00:15:16,120 Speaker 6: implement an emergency fund for the business as well, so 344 00:15:16,200 --> 00:15:18,520 Speaker 6: that if the business has a bit of a crisis, 345 00:15:18,600 --> 00:15:21,200 Speaker 6: you don't have to rely on your personal emergency fund. 346 00:15:21,560 --> 00:15:25,000 Speaker 2: Very good, very genius. And Jess knows this well because 347 00:15:25,040 --> 00:15:26,880 Speaker 2: she does know the back end if she's on the money, 348 00:15:26,920 --> 00:15:28,960 Speaker 2: and she's on the money, does have an emergency fund. 349 00:15:29,160 --> 00:15:32,120 Speaker 2: It makes me feel very confident when we make business 350 00:15:32,160 --> 00:15:35,080 Speaker 2: decisions that I know that I can pay my team 351 00:15:35,360 --> 00:15:37,520 Speaker 2: regardless of whether we get paid next month or not. 352 00:15:37,840 --> 00:15:39,800 Speaker 2: And I wouldn't want that to be coming out of 353 00:15:39,800 --> 00:15:42,760 Speaker 2: my personal income, not because I'm selfish, but because I 354 00:15:42,760 --> 00:15:44,640 Speaker 2: think it gives me peace of mind knowing that the 355 00:15:44,680 --> 00:15:47,080 Speaker 2: business is now self sufficient. I mean, we can't go 356 00:15:47,120 --> 00:15:49,800 Speaker 2: on forever and ever and ever, and if something happens, 357 00:15:50,200 --> 00:15:53,520 Speaker 2: I know, right sucks. We can't go on forever. But 358 00:15:53,760 --> 00:15:55,920 Speaker 2: if something does happen, I know that we've got the 359 00:15:55,920 --> 00:15:58,360 Speaker 2: cash as a backup. And I think that a lot 360 00:15:58,360 --> 00:16:00,840 Speaker 2: of small business owners forget to do that as well. 361 00:16:00,920 --> 00:16:02,720 Speaker 2: And you should really treat your business in the same 362 00:16:02,760 --> 00:16:04,800 Speaker 2: way that we do a budget. Go all right, well, 363 00:16:04,880 --> 00:16:07,640 Speaker 2: what does three months worth of expenses look like? How 364 00:16:07,640 --> 00:16:10,040 Speaker 2: would I make sure that if you know, one month, 365 00:16:10,160 --> 00:16:12,480 Speaker 2: what if invoices don't come in, because that's. 366 00:16:12,320 --> 00:16:14,440 Speaker 4: So don't pay at the time. They just don't. 367 00:16:14,560 --> 00:16:16,920 Speaker 2: They just don't, right like, And having run a small 368 00:16:16,960 --> 00:16:19,720 Speaker 2: business for the last seven years, that statement could not 369 00:16:19,800 --> 00:16:22,960 Speaker 2: be more true. People do not pay their invoices on time. 370 00:16:23,080 --> 00:16:26,080 Speaker 2: It doesn't matter how big that company is. And you 371 00:16:26,080 --> 00:16:28,520 Speaker 2: would be surprised at the people that poor Jess has 372 00:16:28,560 --> 00:16:31,080 Speaker 2: had to chase up hysterically. Coming from a place of truth, 373 00:16:31,240 --> 00:16:33,120 Speaker 2: it is embarrass Is it like wild? 374 00:16:33,320 --> 00:16:33,840 Speaker 1: Is it like a. 375 00:16:33,800 --> 00:16:35,480 Speaker 4: Benefit to like paying late or something? 376 00:16:35,600 --> 00:16:35,680 Speaker 1: Like? 377 00:16:35,680 --> 00:16:37,640 Speaker 4: Why do people know we started adding interest? 378 00:16:38,040 --> 00:16:42,480 Speaker 2: Yeah, if you're a small business owner, always have that 379 00:16:42,560 --> 00:16:45,600 Speaker 2: clause at the bottom of the invoice that says, if 380 00:16:45,600 --> 00:16:48,280 Speaker 2: this is not paid on time, late fees will be incurred, 381 00:16:48,280 --> 00:16:50,000 Speaker 2: and if it has to go to a debt collection, 382 00:16:50,600 --> 00:16:54,080 Speaker 2: which sometimes that actually does happen, those fees will be 383 00:16:54,120 --> 00:16:56,400 Speaker 2: added on top. Because if that's not on your invoice, 384 00:16:56,400 --> 00:16:58,320 Speaker 2: that's coming out of the profit that you will make. 385 00:16:58,800 --> 00:17:01,920 Speaker 2: So if that's not outlined clearly on the invoice that 386 00:17:01,960 --> 00:17:05,080 Speaker 2: you gave to your client, you actually can't make them 387 00:17:05,119 --> 00:17:07,800 Speaker 2: pay those fees if they are late. You can't just 388 00:17:07,960 --> 00:17:09,760 Speaker 2: turn around and be like, oh, you've been late for ages, 389 00:17:09,800 --> 00:17:11,040 Speaker 2: I'm going to start charging interest. 390 00:17:11,160 --> 00:17:11,320 Speaker 1: None. 391 00:17:11,320 --> 00:17:13,000 Speaker 2: No, no, it has to be in the terms and conditions. 392 00:17:13,359 --> 00:17:15,760 Speaker 2: So we learned that the hard way, Yes, we did. 393 00:17:16,800 --> 00:17:18,520 Speaker 2: We learned that the hard way, even though I knew 394 00:17:18,560 --> 00:17:21,120 Speaker 2: that that was a thing the whole time. Don't trust yourself, 395 00:17:21,600 --> 00:17:24,560 Speaker 2: don't trust for all of this whole story. Yeah, don't 396 00:17:24,600 --> 00:17:27,439 Speaker 2: trust yourself. Yeah. But also like back yourself, right, So, 397 00:17:27,520 --> 00:17:30,080 Speaker 2: like in a business, if you genuinely believe in that, 398 00:17:30,359 --> 00:17:32,960 Speaker 2: create the structure so that you can see it down 399 00:17:33,000 --> 00:17:34,720 Speaker 2: on paper and it just makes sense and you go, yeah, 400 00:17:34,720 --> 00:17:36,159 Speaker 2: of course I'm going to put my money into that. 401 00:17:36,359 --> 00:17:38,399 Speaker 2: Often we are a little bit apprehensive when there's a 402 00:17:38,480 --> 00:17:41,080 Speaker 2: lack of clarity, and I think by giving yourself that clarity, 403 00:17:41,119 --> 00:17:42,160 Speaker 2: you'll find you'd. 404 00:17:41,960 --> 00:17:43,960 Speaker 4: Be more peace very interesting. 405 00:17:44,200 --> 00:17:46,199 Speaker 2: So this week we got a message about living on 406 00:17:46,240 --> 00:17:48,600 Speaker 2: the disability pension and I feel like this is a 407 00:17:48,600 --> 00:17:51,520 Speaker 2: really interesting one. So they said, hi, Ve, I'm currently 408 00:17:51,560 --> 00:17:54,360 Speaker 2: on a disability pension and I anticipate that I will 409 00:17:54,400 --> 00:17:56,520 Speaker 2: be on this for the rest of my life. I'm 410 00:17:56,560 --> 00:17:59,560 Speaker 2: making just over one thousand dollars each and every single fortnight, 411 00:17:59,800 --> 00:18:02,399 Speaker 2: but it's not hitting the sites. What can I do 412 00:18:02,480 --> 00:18:04,600 Speaker 2: to be a little bit more financially independent when it 413 00:18:04,640 --> 00:18:07,399 Speaker 2: comes to a very strict income. Feel like this is 414 00:18:07,440 --> 00:18:09,960 Speaker 2: really relatable and the amount, so I've looked it up 415 00:18:10,000 --> 00:18:12,040 Speaker 2: to make sure that we're all on the same page. 416 00:18:12,160 --> 00:18:15,000 Speaker 2: So if you've got the maximum amount of a disability 417 00:18:15,040 --> 00:18:18,920 Speaker 2: pension here in Australia, every single fortnite, your maximum base 418 00:18:19,000 --> 00:18:22,720 Speaker 2: rate plus your maximum pension supplement plus your energy supplement 419 00:18:22,840 --> 00:18:26,440 Speaker 2: comes out to one and twenty six dollars fifty each 420 00:18:26,480 --> 00:18:29,439 Speaker 2: and every single fortnite, which if we times out by 421 00:18:29,480 --> 00:18:31,320 Speaker 2: twenty six and then divide that by twelve so that 422 00:18:31,359 --> 00:18:33,879 Speaker 2: we get the amount per month. Because I feel like 423 00:18:33,920 --> 00:18:36,040 Speaker 2: sometimes we all just function better on a month to 424 00:18:36,080 --> 00:18:39,719 Speaker 2: month basis. That's twenty two hundred and twenty four dollars 425 00:18:39,760 --> 00:18:43,600 Speaker 2: each and every single month as a total little money. 426 00:18:43,720 --> 00:18:46,920 Speaker 2: It's total income. And I feel like that's a really 427 00:18:46,920 --> 00:18:50,800 Speaker 2: relevant question because so many people are in their situation, 428 00:18:51,400 --> 00:18:54,000 Speaker 2: and I mean, we've spoken about it off air. This 429 00:18:54,080 --> 00:18:57,520 Speaker 2: conversation is really about how do you make the most 430 00:18:57,520 --> 00:19:00,000 Speaker 2: of the money that you have and live the life 431 00:19:00,200 --> 00:19:03,119 Speaker 2: that you want when you're quite restricted because you don't 432 00:19:03,119 --> 00:19:05,679 Speaker 2: have the ability to go and earn additional income. You 433 00:19:05,720 --> 00:19:07,760 Speaker 2: don't have the ability, and I mean you can, like, 434 00:19:07,880 --> 00:19:11,200 Speaker 2: let's be honest. I know of people who have been 435 00:19:11,240 --> 00:19:13,800 Speaker 2: on disability pensions and they have a little cash job 436 00:19:13,840 --> 00:19:16,000 Speaker 2: that they can do for three hours once a month, 437 00:19:16,359 --> 00:19:19,920 Speaker 2: and to be honest, I think that's great. Like I'm 438 00:19:20,080 --> 00:19:22,440 Speaker 2: for that because I just think that's not much money 439 00:19:22,440 --> 00:19:25,040 Speaker 2: and I don't think you know, being really let's just 440 00:19:25,119 --> 00:19:26,639 Speaker 2: be a little bit spicy. I really don't think our 441 00:19:26,680 --> 00:19:29,800 Speaker 2: government does nearly enough to look after people in those situations. 442 00:19:30,040 --> 00:19:32,040 Speaker 2: And if you are on a disability pension, there's going 443 00:19:32,080 --> 00:19:33,880 Speaker 2: to be a really good reason for it, because it's 444 00:19:33,880 --> 00:19:36,360 Speaker 2: really hard to get on a disability pension. Like, we're 445 00:19:36,359 --> 00:19:38,560 Speaker 2: not talking about being on centling here. We're not talking 446 00:19:38,600 --> 00:19:41,040 Speaker 2: about people who maybe are taking advantage of the system. 447 00:19:41,240 --> 00:19:44,280 Speaker 2: Let's admit, yes, those people exist, That's not who we're 448 00:19:44,320 --> 00:19:46,280 Speaker 2: talking to in this community. And you know what, I 449 00:19:46,320 --> 00:19:48,120 Speaker 2: really don't think that there are people in the She's 450 00:19:48,119 --> 00:19:50,240 Speaker 2: on the Money community that're doing that because you're not 451 00:19:50,280 --> 00:19:51,920 Speaker 2: going to care about your budget and your cash flow 452 00:19:51,920 --> 00:19:54,240 Speaker 2: and making the most of things if that's your mentality, 453 00:19:54,440 --> 00:19:56,600 Speaker 2: if you're someone who takes advantage of things, I just 454 00:19:56,640 --> 00:19:58,879 Speaker 2: don't think that's a She's on the Money listener, you know, Like, 455 00:19:58,920 --> 00:20:00,800 Speaker 2: I just think that the people that listen to our 456 00:20:00,840 --> 00:20:03,639 Speaker 2: content are the types that just want the best for 457 00:20:03,800 --> 00:20:07,280 Speaker 2: themselves and the situation that they're in. So I feel 458 00:20:07,280 --> 00:20:10,120 Speaker 2: like that's not much money, but what can we actually 459 00:20:10,280 --> 00:20:12,160 Speaker 2: do with it? So, do you guys have any suggestions? 460 00:20:12,200 --> 00:20:12,919 Speaker 2: Before I dive in? 461 00:20:13,040 --> 00:20:16,000 Speaker 3: I feel like we should ask my mum about this, 462 00:20:16,040 --> 00:20:19,240 Speaker 3: because she did this. She's a mother of four children, 463 00:20:19,400 --> 00:20:23,080 Speaker 3: and there was a time where she was definitely on Senelink, 464 00:20:23,400 --> 00:20:26,399 Speaker 3: not the disability pension necessarily, and I don't actually know 465 00:20:26,440 --> 00:20:28,320 Speaker 3: what it was, but I feel like I was like 466 00:20:28,680 --> 00:20:32,080 Speaker 3: one second old not really, I was eighteen or something, but. 467 00:20:32,480 --> 00:20:33,760 Speaker 2: She was really lucky. 468 00:20:33,880 --> 00:20:35,720 Speaker 3: And we were really lucky because we were in a 469 00:20:35,760 --> 00:20:39,600 Speaker 3: situation where we were on a waiting list for a 470 00:20:39,720 --> 00:20:44,160 Speaker 3: community housing place, and that wait list can be five, 471 00:20:44,359 --> 00:20:47,800 Speaker 3: ten years years long, Like you have to wait for 472 00:20:47,840 --> 00:20:49,879 Speaker 3: so long. We were in a position where I was like, 473 00:20:50,040 --> 00:20:52,000 Speaker 3: you know, a bit more prioritize, a little bit more 474 00:20:52,000 --> 00:20:54,880 Speaker 3: of an emergency. So we got a place maybe after 475 00:20:54,920 --> 00:20:58,000 Speaker 3: a year. We were very, very lucky. And so the 476 00:20:58,119 --> 00:21:01,240 Speaker 3: rent in that situation, I think it's like twenty five 477 00:21:01,280 --> 00:21:03,320 Speaker 3: percent of your total income, So if you're making like 478 00:21:03,680 --> 00:21:06,080 Speaker 3: fifty bucks, like it's really not that much money. So 479 00:21:07,000 --> 00:21:09,800 Speaker 3: I think in that scenario it's a little bit better. 480 00:21:09,880 --> 00:21:12,399 Speaker 3: But I'm not too sure if our community member is 481 00:21:12,800 --> 00:21:16,160 Speaker 3: in a fixed lease or if they're in a community 482 00:21:16,160 --> 00:21:18,920 Speaker 3: housing house. But it wouldn't hurt to put your name 483 00:21:19,000 --> 00:21:22,159 Speaker 3: down for something like that, and just and I know 484 00:21:22,200 --> 00:21:24,520 Speaker 3: it sucks, but if that's like, you know, something you 485 00:21:24,520 --> 00:21:26,600 Speaker 3: haven't done yet, put your name down, you don't know, 486 00:21:26,680 --> 00:21:28,719 Speaker 3: like you could get a house really quickly. You could 487 00:21:28,920 --> 00:21:32,359 Speaker 3: be waiting ten years. As long as you're going, you're. 488 00:21:32,960 --> 00:21:34,560 Speaker 2: Got to be in it, and that will just take 489 00:21:34,800 --> 00:21:35,440 Speaker 2: a little bit. 490 00:21:35,359 --> 00:21:38,240 Speaker 3: Of pressure off just that rent part of the equation, 491 00:21:38,400 --> 00:21:39,880 Speaker 3: but there's all these other things as well. 492 00:21:40,080 --> 00:21:42,800 Speaker 4: Then I would say twenty I. 493 00:21:42,840 --> 00:21:45,879 Speaker 2: Make that feels so much, I might be wrong. 494 00:21:45,760 --> 00:21:48,479 Speaker 6: In this scenario, that would leave you fifteen hundred dollars 495 00:21:48,520 --> 00:21:50,960 Speaker 6: for a month. And then you've got to obviously consider 496 00:21:51,520 --> 00:21:55,600 Speaker 6: you know, your bills, which conservatively, maybe if you were 497 00:21:55,760 --> 00:21:58,440 Speaker 6: just by yourself, would be at least what two hundred 498 00:21:58,440 --> 00:22:01,000 Speaker 6: bucks a month, I would say a minimum for gas, 499 00:22:01,040 --> 00:22:03,880 Speaker 6: electricy and water. And that's I would say, being conservative. 500 00:22:04,720 --> 00:22:07,240 Speaker 2: It's not leaving you with much like you're making. Like 501 00:22:07,280 --> 00:22:09,520 Speaker 2: if we talk about it on an annual basis, which 502 00:22:09,520 --> 00:22:13,080 Speaker 2: I think really drives home what's going on. That income 503 00:22:13,359 --> 00:22:16,280 Speaker 2: that we're talking about is twenty six thousand, six hundred 504 00:22:16,320 --> 00:22:18,960 Speaker 2: dollars a year, and if you were paying twenty five 505 00:22:19,000 --> 00:22:22,360 Speaker 2: percent of your income towards rent, that's six thousand, six 506 00:22:22,480 --> 00:22:25,520 Speaker 2: hundred and sixty four dollars per year, which leaves you 507 00:22:25,560 --> 00:22:29,639 Speaker 2: with about nineteen thousand dollars to spend on absolutely everything else. 508 00:22:30,359 --> 00:22:33,199 Speaker 2: That's not much at all. No, that's not especially Oh 509 00:22:33,240 --> 00:22:34,640 Speaker 2: my gosh, your mum sounds like a wizard. 510 00:22:34,840 --> 00:22:35,479 Speaker 6: Four kids. 511 00:22:35,640 --> 00:22:38,800 Speaker 2: She really is. She she needs all the credit. 512 00:22:38,960 --> 00:22:40,440 Speaker 4: I know she really is a wizard. 513 00:22:40,520 --> 00:22:42,280 Speaker 3: Like looking back, I actually don't know how she did 514 00:22:42,320 --> 00:22:45,520 Speaker 3: it because we didn't feel like we were struggling. 515 00:22:45,080 --> 00:22:46,280 Speaker 2: But she just made it work. 516 00:22:46,359 --> 00:22:46,520 Speaker 1: You know. 517 00:22:46,680 --> 00:22:48,320 Speaker 2: Oh, I love her. I feel like I do want 518 00:22:48,359 --> 00:22:49,840 Speaker 2: to have a combat that would be such a good 519 00:22:49,880 --> 00:22:53,119 Speaker 2: money direst I want somebody like your mum on the podcast. 520 00:22:53,200 --> 00:22:55,280 Speaker 2: If that's you, please reach out. So there are a 521 00:22:55,280 --> 00:22:57,239 Speaker 2: few things that you can do, right, Like, obviously, if 522 00:22:57,240 --> 00:23:00,679 Speaker 2: you're on a disability support pension, the idea that you 523 00:23:00,720 --> 00:23:03,320 Speaker 2: can work might be elusive, like it might be something 524 00:23:03,320 --> 00:23:05,359 Speaker 2: that's just not an option, Like it just might not 525 00:23:05,400 --> 00:23:07,439 Speaker 2: be something that you can do because it's just not 526 00:23:07,480 --> 00:23:09,719 Speaker 2: going to work. But if you can work, you can 527 00:23:09,720 --> 00:23:12,680 Speaker 2: actually have paid work up to twenty nine hours per week, 528 00:23:12,720 --> 00:23:14,919 Speaker 2: which is like just a little bit over part time, 529 00:23:15,280 --> 00:23:18,639 Speaker 2: and you can do this without losing your disability support payment. 530 00:23:19,000 --> 00:23:21,199 Speaker 2: And I think it's really important to talk about this too, 531 00:23:21,320 --> 00:23:24,680 Speaker 2: because as much as that is income tested, so they'll 532 00:23:24,680 --> 00:23:26,640 Speaker 2: make sure Like obviously, if you're earning one hundred grand 533 00:23:26,640 --> 00:23:28,640 Speaker 2: from those twenty five hours, they're going to be like, man, 534 00:23:28,720 --> 00:23:31,000 Speaker 2: you don't get this. They're going to make sure that 535 00:23:31,040 --> 00:23:33,480 Speaker 2: you're in the best possible position, but you also need 536 00:23:33,520 --> 00:23:37,119 Speaker 2: to do the maths because sometimes it just doesn't work out. 537 00:23:37,280 --> 00:23:39,920 Speaker 2: If you're on a disability support pension and you know 538 00:23:40,040 --> 00:23:43,680 Speaker 2: you're actually quite stressed about it. Is that compromise worth it? 539 00:23:43,720 --> 00:23:46,080 Speaker 2: Is working twenty nine hours a week going to actually 540 00:23:46,080 --> 00:23:47,879 Speaker 2: put you in your mental health first and put you 541 00:23:47,920 --> 00:23:49,879 Speaker 2: in the best possible position. Like, we actually need to 542 00:23:49,880 --> 00:23:52,040 Speaker 2: weigh up the pros and cons and I think it's 543 00:23:52,080 --> 00:23:54,119 Speaker 2: one of those things where you just never know. So 544 00:23:54,160 --> 00:23:57,679 Speaker 2: when it comes to surviving on a low income, obviously 545 00:23:57,880 --> 00:24:00,639 Speaker 2: all of the basics still apply. But I think the 546 00:24:00,680 --> 00:24:03,000 Speaker 2: first thing we need to acknowledge though, is you're not 547 00:24:03,040 --> 00:24:05,320 Speaker 2: going to be able to budget yourself out of poverty 548 00:24:05,359 --> 00:24:08,640 Speaker 2: if you feel like you're in that circumstance. Like unfortunately, 549 00:24:09,040 --> 00:24:11,760 Speaker 2: the services that exist here in Australia, as much as 550 00:24:11,800 --> 00:24:14,399 Speaker 2: we are very very fortunate to have them, because not 551 00:24:14,440 --> 00:24:17,159 Speaker 2: every country supports their community in the same way that 552 00:24:17,200 --> 00:24:18,800 Speaker 2: Australia doesn't. I mean, there's going to be a lot 553 00:24:18,800 --> 00:24:20,720 Speaker 2: of hot conversation around this because a lot of people 554 00:24:20,760 --> 00:24:23,000 Speaker 2: think that, you know, Australia doesn't do enough, and like 555 00:24:23,080 --> 00:24:25,520 Speaker 2: that's a different conversation right, Like, that's not what we're 556 00:24:25,520 --> 00:24:28,960 Speaker 2: talking about now. But I think it's really about talking 557 00:24:29,000 --> 00:24:31,480 Speaker 2: about the fact that one in five Australians actually living 558 00:24:31,520 --> 00:24:34,359 Speaker 2: on the disability support pension. That's a lot of people. 559 00:24:34,760 --> 00:24:37,320 Speaker 2: How do we budget? How do we save? And I 560 00:24:37,320 --> 00:24:39,800 Speaker 2: think the first thing to do is actually again pull 561 00:24:39,840 --> 00:24:41,840 Speaker 2: our heads out of the sand. If you feel like 562 00:24:41,920 --> 00:24:44,480 Speaker 2: it's a terrible situation, wipe that out. It is not 563 00:24:44,600 --> 00:24:46,879 Speaker 2: helping you. How good is it that? Full stop? End 564 00:24:46,880 --> 00:24:48,800 Speaker 2: of story. We have an income that we can work with, 565 00:24:49,119 --> 00:24:51,840 Speaker 2: What does that look like? How much money is coming in? 566 00:24:52,119 --> 00:24:55,480 Speaker 2: What are your overhead expenses? How can we reduce those? 567 00:24:55,960 --> 00:24:58,320 Speaker 2: What support can you reach out to? As you were 568 00:24:58,320 --> 00:25:01,440 Speaker 2: saying before, beck be your favorite thing. And I feel 569 00:25:01,440 --> 00:25:03,320 Speaker 2: like ego comes into it a lot, Like when I 570 00:25:03,359 --> 00:25:05,520 Speaker 2: talk to people in these situations, they're like, oh, I 571 00:25:05,520 --> 00:25:07,240 Speaker 2: didn't want to do it because I felt too bad, 572 00:25:07,320 --> 00:25:09,879 Speaker 2: or there were people in worse off situations that may 573 00:25:10,040 --> 00:25:12,119 Speaker 2: push that to a side. If you need help, you 574 00:25:12,160 --> 00:25:14,359 Speaker 2: need helpful stop end of story. I don't want you 575 00:25:14,400 --> 00:25:16,879 Speaker 2: to be suffering because you think somebody else has it worse, 576 00:25:17,200 --> 00:25:20,320 Speaker 2: or you think that you're not eligible but you haven't checked. 577 00:25:20,600 --> 00:25:23,680 Speaker 2: Please do please, go and check and don't feel ashamed 578 00:25:23,720 --> 00:25:28,040 Speaker 2: to access these services. These services have such high barriers 579 00:25:28,080 --> 00:25:30,800 Speaker 2: to entry that if you actually get through them, I 580 00:25:30,920 --> 00:25:33,840 Speaker 2: promise you you deserve it. Like I promise you that's 581 00:25:33,880 --> 00:25:36,000 Speaker 2: the position you are meant to be in. So see 582 00:25:36,000 --> 00:25:38,640 Speaker 2: what you can do there. But then also get savvy. 583 00:25:38,960 --> 00:25:40,679 Speaker 2: So when it comes to budgeting, there are going to 584 00:25:40,680 --> 00:25:43,280 Speaker 2: be things that we can't change, like accommodation costs, Like 585 00:25:43,520 --> 00:25:45,719 Speaker 2: we don't have a lot of control over those, But 586 00:25:45,800 --> 00:25:47,679 Speaker 2: how do we get a little bit creative with food? 587 00:25:47,880 --> 00:25:49,879 Speaker 2: We could look at our budget for that. And as 588 00:25:49,920 --> 00:25:53,080 Speaker 2: much as you're probably already being super savvy, are we 589 00:25:53,119 --> 00:25:55,720 Speaker 2: able to like think about the concept of bulk cooking, Like, 590 00:25:55,760 --> 00:25:58,760 Speaker 2: if we're going to cook, can we rely on what's 591 00:25:58,800 --> 00:26:01,240 Speaker 2: on special this week? Maybe we can backtrack what we're 592 00:26:01,240 --> 00:26:03,840 Speaker 2: actually working on this We can go all right, well, 593 00:26:04,160 --> 00:26:07,000 Speaker 2: I was probably going to do tacos, but actually this 594 00:26:07,119 --> 00:26:09,440 Speaker 2: other thing is on sale. What can I do with this? 595 00:26:09,960 --> 00:26:12,600 Speaker 2: What meals can I make that are under five bucks? 596 00:26:12,680 --> 00:26:15,240 Speaker 2: What can I actually do? And I feel like it's 597 00:26:15,240 --> 00:26:17,800 Speaker 2: not the sexiest conversation to have because I feel like 598 00:26:17,840 --> 00:26:20,000 Speaker 2: a broken record and everyone's heard it before, right, They're 599 00:26:20,040 --> 00:26:23,280 Speaker 2: like cool, here comes Victoria who thinks she knows everything 600 00:26:23,280 --> 00:26:25,720 Speaker 2: about finance, and she's going to tell us to budget 601 00:26:25,720 --> 00:26:28,600 Speaker 2: and scrimp and save. But I actually think it's also 602 00:26:28,640 --> 00:26:31,800 Speaker 2: about taking the pressure off yourself, because, like you said, 603 00:26:31,840 --> 00:26:34,280 Speaker 2: it doesn't feel good, Like you don't want to be 604 00:26:34,320 --> 00:26:36,439 Speaker 2: in those circumstances, you don't want to talk about it. 605 00:26:36,520 --> 00:26:39,200 Speaker 2: But like, I'm proud of you for reaching out for help. 606 00:26:39,200 --> 00:26:41,200 Speaker 2: I'm proud of you that you've gone through this process, 607 00:26:41,200 --> 00:26:43,520 Speaker 2: and I'm proud that you are living in a country 608 00:26:43,520 --> 00:26:46,520 Speaker 2: where that's accessible to you. That's hot as hell. 609 00:26:46,760 --> 00:26:48,480 Speaker 4: Absolutely, that's really cool. 610 00:26:48,640 --> 00:26:50,679 Speaker 2: And I think that we need to look at it 611 00:26:50,760 --> 00:26:53,679 Speaker 2: more as a pragmatic thing rather than a reflection of 612 00:26:53,720 --> 00:26:56,520 Speaker 2: your value. And I think so often we tie our 613 00:26:56,600 --> 00:26:59,080 Speaker 2: self worth to the income that we generate, and you 614 00:26:59,200 --> 00:27:02,720 Speaker 2: assume it's incorrect, but you assume that the money you 615 00:27:02,800 --> 00:27:05,280 Speaker 2: earn is reflective of how valuable you are as a 616 00:27:05,320 --> 00:27:07,280 Speaker 2: human being, and that is not the case at all. 617 00:27:07,400 --> 00:27:09,760 Speaker 2: In fact, it couldn't be further from the case. Like 618 00:27:09,840 --> 00:27:12,679 Speaker 2: I would prefer to surround myself with people who have 619 00:27:12,840 --> 00:27:16,480 Speaker 2: absolutely no income and are super kind and conscientious, and 620 00:27:16,520 --> 00:27:19,160 Speaker 2: they're the type of people that are super empathetic than 621 00:27:19,320 --> 00:27:21,439 Speaker 2: having really rich friends that have heaps of money and 622 00:27:21,480 --> 00:27:24,520 Speaker 2: no empathy and get in getting it in, Like, it's 623 00:27:24,640 --> 00:27:27,520 Speaker 2: never been the type of person that I have gravitated towards. 624 00:27:27,600 --> 00:27:30,679 Speaker 2: It's one of those things that think about your circle 625 00:27:30,720 --> 00:27:33,919 Speaker 2: around you. You probably have a beautiful circle. Think about 626 00:27:33,960 --> 00:27:36,000 Speaker 2: the community that you're already in and the company that 627 00:27:36,080 --> 00:27:38,800 Speaker 2: you keep, Like, there are so many ways to illuminate 628 00:27:38,840 --> 00:27:41,919 Speaker 2: your life that don't necessarily mean spending more money. Like, 629 00:27:42,000 --> 00:27:45,000 Speaker 2: I know that that sounds really flippant, but like, how 630 00:27:45,040 --> 00:27:47,320 Speaker 2: grateful are we for our health? How grateful are we 631 00:27:47,400 --> 00:27:49,040 Speaker 2: that the sun is shining? I mean, I'm not that 632 00:27:49,119 --> 00:27:50,960 Speaker 2: grateful that the air condition is not working in the 633 00:27:51,359 --> 00:27:55,240 Speaker 2: podcasts too? Yeah, but like what can you do? Can 634 00:27:55,320 --> 00:27:58,000 Speaker 2: you implement some routine in your life that feels a 635 00:27:58,000 --> 00:28:00,560 Speaker 2: little bit better. You might be making a cup of tea, 636 00:28:00,600 --> 00:28:02,760 Speaker 2: I'm going for a walk in the mornings instead of 637 00:28:02,800 --> 00:28:05,520 Speaker 2: staying at home. Like, none of these things need to 638 00:28:05,520 --> 00:28:08,520 Speaker 2: be expensive, none of these things need to really impact 639 00:28:08,520 --> 00:28:11,239 Speaker 2: your budget. But how do we create the life that 640 00:28:11,280 --> 00:28:13,959 Speaker 2: you deserve on the income that you actually have. 641 00:28:14,200 --> 00:28:17,119 Speaker 3: Sure, I don't know if this community member is in Victoria, 642 00:28:17,200 --> 00:28:19,320 Speaker 3: but I know that there are you know, for example, 643 00:28:19,359 --> 00:28:22,240 Speaker 3: near my house there's a outdoor pantry. I don't know, 644 00:28:22,320 --> 00:28:24,000 Speaker 3: I don't know who put it there, but it's always 645 00:28:24,000 --> 00:28:26,280 Speaker 3: stocked with food. So there are things like that around 646 00:28:26,600 --> 00:28:28,520 Speaker 3: cheaper by miles. I'm not too sure if you've heard 647 00:28:28,520 --> 00:28:31,520 Speaker 3: of it, but it's all this stuff that's either not 648 00:28:31,520 --> 00:28:34,600 Speaker 3: not safe to eat, but it's kind of you know, 649 00:28:34,880 --> 00:28:36,639 Speaker 3: on its last look in QR. 650 00:28:38,880 --> 00:28:39,840 Speaker 2: And some things are. 651 00:28:39,800 --> 00:28:43,120 Speaker 3: So in date but just haven't sold for whatever reason. Yeah, 652 00:28:43,160 --> 00:28:45,440 Speaker 3: going to places like that where things are so cheap, 653 00:28:45,760 --> 00:28:48,560 Speaker 3: Going to you know, communal pantries and things like that 654 00:28:48,800 --> 00:28:51,520 Speaker 3: when you need to will be a really really big help. 655 00:28:51,720 --> 00:28:53,800 Speaker 4: Accessing concession cards as well. 656 00:28:53,800 --> 00:28:55,920 Speaker 6: If you're own disability, you probably would qualify for a 657 00:28:55,920 --> 00:28:58,800 Speaker 6: concession and you would be surprised how many businesses be 658 00:28:59,000 --> 00:29:02,440 Speaker 6: and small offer us some kind of concession or pension 659 00:29:02,640 --> 00:29:03,680 Speaker 6: deal to help you out. 660 00:29:04,160 --> 00:29:06,920 Speaker 3: And honestly, and this is really bad probably bad advice, 661 00:29:06,960 --> 00:29:11,280 Speaker 3: but I would say it is very, very exhausting living 662 00:29:11,360 --> 00:29:13,840 Speaker 3: like this, And I would even prioritize if you can 663 00:29:14,200 --> 00:29:17,400 Speaker 3: every now and then doing something really nice for yourself, 664 00:29:17,440 --> 00:29:20,640 Speaker 3: whatever that guilty pleasure is, if you can try and 665 00:29:20,680 --> 00:29:22,600 Speaker 3: find a way to do that to keep your head 666 00:29:22,600 --> 00:29:24,960 Speaker 3: above water and just kind of make you feel good 667 00:29:25,000 --> 00:29:28,640 Speaker 3: because it is very exhausting, Yeah, on such low income 668 00:29:28,680 --> 00:29:31,680 Speaker 3: for so long, So just try and remember to do 669 00:29:31,720 --> 00:29:32,520 Speaker 3: that every now and then. 670 00:29:32,680 --> 00:29:36,680 Speaker 2: I could not agree with that anymore than I actually 671 00:29:36,680 --> 00:29:38,040 Speaker 2: love that, because I think that a lot of the 672 00:29:38,080 --> 00:29:40,360 Speaker 2: time people assume that the advice coming from my side 673 00:29:40,360 --> 00:29:42,080 Speaker 2: of the table would be like, well, if you have 674 00:29:42,200 --> 00:29:45,720 Speaker 2: some spare income, you better say that, Like, sometimes that's 675 00:29:45,760 --> 00:29:47,480 Speaker 2: actually not the best thing for your mental health. And 676 00:29:47,520 --> 00:29:49,760 Speaker 2: I think that there's this balance when it comes to life. 677 00:29:50,120 --> 00:29:53,600 Speaker 2: I also think one thing that you should prioritize is 678 00:29:53,640 --> 00:29:56,440 Speaker 2: an emergency fund, which again very privileged. You might not 679 00:29:56,480 --> 00:29:59,080 Speaker 2: have the cash flow to support that or even establish that. 680 00:29:59,320 --> 00:30:01,280 Speaker 2: But even if it it's one dollar a month, one 681 00:30:01,320 --> 00:30:03,520 Speaker 2: dollar a week, whatever it is that you have to 682 00:30:03,560 --> 00:30:05,720 Speaker 2: the side. Maybe you've got a rebate that you didn't 683 00:30:05,720 --> 00:30:08,400 Speaker 2: know was coming, Is there a way that you could 684 00:30:08,440 --> 00:30:11,040 Speaker 2: put that to the side, Because I promise, once you 685 00:30:11,080 --> 00:30:13,520 Speaker 2: start building up a little bit of a buffer, regardless 686 00:30:13,560 --> 00:30:17,080 Speaker 2: of what your income is, the knowledge that an unexpected 687 00:30:17,080 --> 00:30:19,680 Speaker 2: bill or maybe you needed to top up your mykey 688 00:30:19,840 --> 00:30:22,680 Speaker 2: or your public transport card and you just completely forgot. 689 00:30:23,080 --> 00:30:25,680 Speaker 2: I just think it's one of those things that a 690 00:30:25,720 --> 00:30:28,240 Speaker 2: lot of us don't realize the financial freedom that can 691 00:30:28,280 --> 00:30:30,640 Speaker 2: come from that. And financial freedom, to me is not 692 00:30:30,680 --> 00:30:33,560 Speaker 2: necessarily you know, you might have heard, oh, we millennials 693 00:30:33,600 --> 00:30:36,360 Speaker 2: who want financial freedom, like, and you assume everyone wants 694 00:30:36,360 --> 00:30:39,000 Speaker 2: to be really rich. Yeah, of course people want to 695 00:30:39,000 --> 00:30:41,440 Speaker 2: be rich, like that'd be great, but that's not actually 696 00:30:41,440 --> 00:30:43,760 Speaker 2: what we're about. It's about creating financial freedom in the 697 00:30:43,840 --> 00:30:46,760 Speaker 2: life that we have, and sometimes that is just having 698 00:30:46,760 --> 00:30:49,240 Speaker 2: an extra hundred bucks to the side. That means that 699 00:30:49,280 --> 00:30:51,240 Speaker 2: you sleep well at night knowing that if your kid 700 00:30:51,280 --> 00:30:53,320 Speaker 2: goes to school tomorrow and something pops up and you 701 00:30:53,360 --> 00:30:56,040 Speaker 2: need ten bucks, it's there and you can do that. 702 00:30:56,240 --> 00:30:59,280 Speaker 2: And that's a financial freedom that I promise a lot 703 00:30:59,280 --> 00:31:01,240 Speaker 2: of people would be like, oh my gosh, I wish 704 00:31:01,240 --> 00:31:04,360 Speaker 2: I had that. So I feel like it's just yeah, 705 00:31:04,520 --> 00:31:07,000 Speaker 2: consensus of this is actually take the pressure off and 706 00:31:07,040 --> 00:31:10,160 Speaker 2: create some structure. So create some structure in your budget, 707 00:31:10,200 --> 00:31:12,760 Speaker 2: create some structure in what you can do, really look 708 00:31:12,800 --> 00:31:16,000 Speaker 2: at it pragmatically, what can you do and brainstorm out 709 00:31:16,040 --> 00:31:19,000 Speaker 2: those things instead of just dismissing them. So I think 710 00:31:19,040 --> 00:31:21,360 Speaker 2: sometimes you would go quick try. I can't change my 711 00:31:21,400 --> 00:31:23,560 Speaker 2: budget for my food. It's just not happening. I've done 712 00:31:23,600 --> 00:31:26,000 Speaker 2: it a million times. Have a think about it again, 713 00:31:26,200 --> 00:31:28,760 Speaker 2: Maybe look at it from a different perspective. What would 714 00:31:28,760 --> 00:31:31,760 Speaker 2: happen if you did one more meat free dish per week? 715 00:31:32,040 --> 00:31:34,719 Speaker 2: What does that look like? How could that work like? 716 00:31:34,800 --> 00:31:36,640 Speaker 2: And I know that they might not be the sexiest 717 00:31:36,760 --> 00:31:40,640 Speaker 2: or the options that you immediately gravitate towards, because like fuck, 718 00:31:40,720 --> 00:31:44,200 Speaker 2: lentils can get boring, but they can be really cool. 719 00:31:44,640 --> 00:31:46,520 Speaker 2: And I think that it's one of those things that 720 00:31:46,800 --> 00:31:49,160 Speaker 2: you know, have a look at all options from all 721 00:31:49,240 --> 00:31:52,360 Speaker 2: viable sides of that equation, and you'll be in a 722 00:31:52,360 --> 00:31:54,760 Speaker 2: better position. But also take the pressure off yourself because 723 00:31:54,840 --> 00:31:56,719 Speaker 2: you are worth so much more than the income that 724 00:31:56,800 --> 00:32:00,520 Speaker 2: comes into your bank account. And that does not dictate 725 00:32:00,560 --> 00:32:02,600 Speaker 2: who you are as a person, or how kind you are, 726 00:32:02,720 --> 00:32:04,680 Speaker 2: or how smart you are, or how important you are. 727 00:32:04,720 --> 00:32:05,360 Speaker 2: It means nothing. 728 00:32:05,440 --> 00:32:06,960 Speaker 4: Amen. Yeah, couldn't say it better. 729 00:32:07,000 --> 00:32:09,080 Speaker 2: All Right, Well, I think that's all we've got time 730 00:32:09,120 --> 00:32:10,800 Speaker 2: for today because Jess and I need to go do 731 00:32:10,840 --> 00:32:12,520 Speaker 2: some planning because we have a whole extra week of 732 00:32:12,560 --> 00:32:15,520 Speaker 2: events next week, so we need to run. But Beck, 733 00:32:15,840 --> 00:32:17,880 Speaker 2: congrats on your job out of you. 734 00:32:18,200 --> 00:32:19,040 Speaker 4: Thank you so much. 735 00:32:19,280 --> 00:32:21,440 Speaker 2: Guys. We'll see you next week. Have the best weekend. 736 00:32:21,600 --> 00:32:27,480 Speaker 4: Bye bye. 737 00:32:29,800 --> 00:32:32,320 Speaker 2: The advice shared on She's on the Money is general 738 00:32:32,400 --> 00:32:36,240 Speaker 2: in nature and does not consider your individual circumstances. She's 739 00:32:36,280 --> 00:32:39,760 Speaker 2: on the Money exists purely for educational purposes and should 740 00:32:39,760 --> 00:32:42,960 Speaker 2: not be relied upon to make an investment or financial decision. 741 00:32:43,320 --> 00:32:45,800 Speaker 2: If you do choose to buy a financial product, read 742 00:32:45,800 --> 00:32:49,959 Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards 743 00:32:49,960 --> 00:32:53,280 Speaker 2: your needs. Victoria Divine and She's on the Money are 744 00:32:53,320 --> 00:32:58,320 Speaker 2: authorized representatives of Money Shova pty Ltd ABN three two 745 00:32:58,360 --> 00:33:01,360 Speaker 2: one is six four nine two seven seven zero eight 746 00:33:01,640 --> 00:33:06,360 Speaker 2: a f s L four five one two eight nine