Speaker 1: Just before we get started, we'd like to acknowledge and
Speaker 1: pay respect to Australia's Aboriginal and torrest Rate islander people's.
Speaker 1: They're the traditional custodians of the lands, the waterways and
Speaker 1: the skies all across Australia. We thank you for sharing
Speaker 1: and for caring for the land on which we are
Speaker 1: able to learn. We pay respects to elders past and present,
Speaker 1: and we share our friendship and our kindness.
Speaker 2: She's on the Money, She's on the Money.
Speaker 1: Hello, and welcome to She's on the Money, the podcast
Speaker 1: for millennials who want financial freedom. This is our Friday
Speaker 1: Drinks episode where we celebrate the money wins from the
Speaker 1: She's on the Money community. As you guys know, it
Speaker 1: is the time of the week where George, Jess and
Speaker 1: I we sit down with a bevy. We've all got
Speaker 1: some form of cola this week. None are equal. Jess
Speaker 1: has what you've got a vanilla coke, not a pepsi,
Speaker 1: not a pepsi just that I've got the pepsi, but
Speaker 1: it's a Pepsi max. So it got quickly dismissed by
Speaker 1: Jess as an option. And Georgia, as always has the
Speaker 1: little hippie option of a Cola's.
Speaker 3: Delicious Guys tastes.
Speaker 1: Just like hope, no trying, No thank you, sir. But
Speaker 1: we are here this week because we know that every
Speaker 1: single week there are epic money wins and confessions shared
Speaker 1: in our Facebook group, and our community do some epic
Speaker 1: things as well as the fact that the budget happened
Speaker 1: to this week and I really really really want to
Speaker 1: talk about it, but this week we are talking about
Speaker 1: the She's on the Money community, what they got up to,
Speaker 1: how it worked, and if you missed the Monday and
Speaker 1: the Wednesday episodes, Jess and George they recap them for
Speaker 1: you here. So let's jump straight in, miss Jess Garci.
Speaker 1: As always, what happened on this week's money Diary.
Speaker 4: So t Speak's diarist was just living her best life,
Speaker 4: really her work life balance, doing all different things. She's studying,
Speaker 4: she's working, she's a gardener, she's a sex worker. She
Speaker 4: just had all of the variety, which I personally think
Speaker 4: is the way to go. Spice of life a thousand percent,
Speaker 4: and her life was indeed spicy. So she chatted to
Speaker 4: us a little bit about how COVID really impacted her
Speaker 4: income because obviously both gardening and sex work are roles
Speaker 4: that require face to face contact that was not an
Speaker 4: option during COVID NO, so she lost pretty much all
Speaker 4: of her income, which would have been so so stressful,
Speaker 4: and she's really still working on pulling herself back out
Speaker 4: of that rebudgeting. And she just spoke to us a
Speaker 4: little bit about how she didn't have the clarity that
Speaker 4: she needed, and we had a really good conversation around
Speaker 4: financial advice and when to get it and when to not,
Speaker 4: and what resources are out there so you can figure
Speaker 4: things out by yourself. And ultimately she said she just
Speaker 4: needed a little bit of clarity, which I think a
Speaker 4: lot of people do, And it was just a really
Speaker 4: good down to earth I think diary that a lot
Speaker 4: of us have probably been in that space before.
Speaker 1: Yeah. I really liked her. I wanted to be friends,
Speaker 1: But I don't think that there's been an episode of
Speaker 1: Money Diaries where I haven't wanted to be friends with
Speaker 1: the DIARISTYFULI we've recorded, Yeah, like, we just haven't met
Speaker 1: you all yet. So moving on. Georgia Geking on tour
Speaker 1: as your Instagram handle names you.
Speaker 3: What happened on the Wednesday Wednesday EP Ladies we discussed
Speaker 3: growth versus dividend investing.
Speaker 1: Strategies by it was actually really interesting, was it actually
Speaker 1: or are you saying that because you're like, ah, I
Speaker 1: can't tell them glory down to pas.
Speaker 4: No, it was a good ep. We got some really
Speaker 4: good feedback as well this day, we folks, Yeah, we did.
Speaker 4: We're focusing on drilling down in investing at the moment.
Speaker 4: We're working with our friends at Charesas to bring you
Speaker 4: a whole investing series, so more in depth, high level
Speaker 4: investing specific content. We'd love to see it and if
Speaker 4: there's anything you want to see specifically, let us know
Speaker 4: because we're planning out that little series as we speak.
Speaker 1: And just wants you to do all her work for
Speaker 1: you exactly, all right, So let's dive into it. G
Speaker 1: King on tour, What have you got from the community
Speaker 1: that you would like to share with the group.
Speaker 3: I feel really honored to read out these wins every week,
Speaker 3: and as always, they're starting there amazing, their gorgeous Why
Speaker 3: are you guys lying in Oscar?
Speaker 1: I'm just here.
Speaker 3: I mean, Oscar's a all the rage at the moment.
Speaker 3: It's the hot topic.
Speaker 1: I don't believe anyone's been punched in this studio before.
Speaker 4: Well not yet.
Speaker 3: Let's get into the wins of the week. The first
Speaker 3: one comes from Emily Money birthday win. I set the
Speaker 3: goal a while ago to have all of my debt
Speaker 3: paid off before I turned twenty four. My birthday was
Speaker 3: just last week, and I'm very proud to say I
Speaker 3: am one hundred percent debt free. Yes, Emily, I have
Speaker 3: closed down all my buy now pay later accounts like
Speaker 3: after pay and zip Pay, paid off all of my
Speaker 3: student debt, which is very impressive, and all the other
Speaker 3: debt I've accumulated over my adult life. It's such a
Speaker 3: refreshing and motivating feeling starting twenty four with so much
Speaker 3: growth on the horizon.
Speaker 4: Happy birthday, Emily, That's such a good way to start.
Speaker 4: You're absolutely right.
Speaker 1: Oh my gosh. I was having this conversation the other
Speaker 1: day about words that we use, and I feel like
Speaker 1: the word liberated is so useful here, Like you would
Speaker 1: feel liberated once you pay off all your debt. You
Speaker 1: just feel free to do whatever you want, and that
Speaker 1: makes me so excited for you. Emily. Congrats and happy birthday.
Speaker 3: Then next win comes from Michelle Money win. I ended
Speaker 3: my dog food subscription, as they were going to put
Speaker 3: it up by eighty dollars.
Speaker 1: Eighty dollars.
Speaker 3: I decided I'm going to cook it myself and I'm
Speaker 3: going to save myself nearly one hundred dollars a month. Yes,
Speaker 3: I lose the convenience, but I'd rather save the money.
Speaker 1: I'm glad she's still feeding your dog, not just canceling
Speaker 1: the subscriptions like I would cancel my Netflix and not.
Speaker 3: She's doing the right thing. The next win it comes
Speaker 3: from Emily Money Win. I have a bunch of wild
Speaker 3: monster in my garden, Ladies. This one's for you.
Speaker 1: We can liberate those plants.
Speaker 3: Yes, I propagated them, and now they look amazing in
Speaker 3: my house. I might start selling them on Facebook, Mark
Speaker 3: and Play. First customers are sitting in this room, Emily.
Speaker 1: We aren't customers when it comes to plants. If you've
Speaker 1: listened to any good cheese on the money. So let's
Speaker 1: move on though.
Speaker 3: The next win is a bit of a quirky one,
Speaker 3: one of my favorites, ladies. It's from Yanna in twenty twenty.
Speaker 3: In the first lockdown, I bought a packet of men's
Speaker 3: beard dye to dye my brows It's now twenty twenty
Speaker 3: two and I've used it at least fifteen to twenty
Speaker 3: times and I still have about a quarter of the
Speaker 3: die left. It cost me sixteen dollars for two years
Speaker 3: of dyeing my own eyebrows. Pre Covid, I was paying
Speaker 3: twenty two dollars per session to get them dyed.
Speaker 1: Ladies, What do we think I do that myself? Yeah,
Speaker 1: for men, bread, Yeah, I totally do that. And if
Speaker 1: you want to get even spicier, you can buy the
Speaker 1: black one and put it on your eyelashes. I mean,
Speaker 1: they probably don't want you putting it anywhereny eyes, But
Speaker 1: like for a money, when I'll.
Speaker 4: Do it, the safety directions we're not responsible for.
Speaker 1: No I do. It's really really good.
Speaker 4: So that's what you do with your beautiful brows.
Speaker 1: You can get I meantime disclaim it. I do have
Speaker 1: tattooed brows, so I am at a bit of an advantage.
Speaker 1: But I do have to tint the hairs because naturally
Speaker 1: I am quite light head. So yeah, anyway, very good money.
Speaker 1: I mean I like that. I just don't buy the
Speaker 1: actual female one pink tax written all over?
Speaker 3: Is it more expensive?
Speaker 1: Much more expensive? Way less product, wayless.
Speaker 3: For women's beard die. No, okay, moving on, the next
Speaker 3: wind comes from color. My MacBook pro died fourteen months
Speaker 3: after I bought it, and I thought it was out
Speaker 3: of warranty, took it into the Apple store, and turns
Speaker 3: out the Australian consumer law warranty was still valid. I
Speaker 3: saved myself one thousand, five hundred and seventy five dollars
Speaker 3: in repair costs. I am cheering.
Speaker 1: I love that, But also, Jess, why are you dancing?
Speaker 4: Because I have been in this exact situation where Apple
Speaker 4: tried to tell me that my four thousand dollars MacBook
Speaker 4: after two years when it just stopped like functioning, They're like, well,
Speaker 4: it's outside of warranty, and I was like, that is
Speaker 4: absolutely not a thing. Are you joking? Consumer law friends
Speaker 4: know it, understand it, and when necessary bring it up.
Speaker 1: Did you?
Speaker 4: Oh yeah I did, And funnily enough, as soon as
Speaker 4: I said that, they replaced the laptop. Interesting, yeah, so
Speaker 4: like know.
Speaker 1: You're rights because a cowinky did.
Speaker 4: Stores personal policies are overridden by federal law. Funnily enough, so,
Speaker 4: like know it obviously only invocate when it's applicable, But
Speaker 4: you are protected. When you spend a lot of money
Speaker 4: on talping, you can expect it to work for a
Speaker 4: reasonable amount of time.
Speaker 1: When you're older, Jess and you're like in your secretes, yeah,
Speaker 1: do you reckon?
Speaker 4: You're going to change your name. There's a new restaurant
Speaker 4: in Melbourne called Karen's. I keep seeing. I'm like, is
Speaker 4: this made for me?
Speaker 1: Can we go? Apparently? They just are absolutely awful. You
Speaker 1: walk in and they throw the menus at you and stuff.
Speaker 1: I just want slightly intimidate. We should go team outing.
Speaker 4: Lock it in.
Speaker 3: All right. The final win here, ladies, is from Nicole
Speaker 3: Future Money whin. I am predicting Victoria will to a
Speaker 3: budget pod and that will be a win for us
Speaker 3: to understand in more detail.
Speaker 1: Welcome to that budget precisely.
Speaker 4: That was very strategically picked. Well done it, thanks ladies.
Speaker 1: She's on the content. All right, Let's go to a
Speaker 1: quick break and then we'll turn this into a budget pod. Excellent.
Speaker 4: Alrighty, so we are talking budget because I mean, if
Speaker 4: anyone knows us, it's like a holiday in our office.
Speaker 4: The way Victoria wasn't just a holiday.
Speaker 1: It was an excuse to sit on the couch with
Speaker 1: not just one, but maybe a couple of cheeky glasses
Speaker 1: of wine, a notebook, and my partner, who was thoroughly
Speaker 1: confused about why I was so excited about watching essentially
Speaker 1: a budget.
Speaker 4: Yeah. So there was a lot covered, obviously, a lot
Speaker 4: of which was just honestly not that interesting. Sorry, sorry,
Speaker 4: but can you give us It.
Speaker 1: Can be really bland and really boring. And I think
Speaker 1: it was really dry Jess, because they aren't podcasters, they're politicians,
Speaker 1: and they aren't exactly trained, and they don't have peachy
Speaker 1: branding which makes them interesting so much.
Speaker 4: I write to the federal government and let them know
Speaker 4: if they just rebranded impeach, people would probably be way
Speaker 4: more interested.
Speaker 5: Yeah.
Speaker 1: I think that's good. They can't even borrow our title.
Speaker 1: Instead of She's on the money, it's she's in Parliament. Great?
Speaker 4: Is that has like a great campaign written all over it?
Speaker 4: More women in Parliament?
Speaker 1: Please BD for fifty Oh holy do it's a cool
Speaker 1: Not a chance, Not a chance, my friends, I swear
Speaker 1: way too much and have too much of a shady history.
Speaker 3: No.
Speaker 1: But moving on, This year's budget was particularly interesting, especially
Speaker 1: for someone like me, because this year is an election year,
Speaker 1: so this is a year where our current prime minister,
Speaker 1: who clearly wants to stay prime minister, is making all
Speaker 1: these promises where he is hoping that you will hang
Speaker 1: on that and go, all right, well, let's votes go
Speaker 1: mo again because that makes me feel really comfortable and
Speaker 1: I really like that. But I did feel personally like
Speaker 1: there were a few missing pieces. So it was really
Speaker 1: interesting for me personally because if you listen to our
Speaker 1: budget recap on the federal budget last year, I'm pretty
Speaker 1: sure I mentioned that I didn't think that there was
Speaker 1: enough information and allocation of funds towards healthcare, age healthcare
Speaker 1: and what's going on in the healthcare system right now
Speaker 1: and the amount of pressure that we know they are
Speaker 1: still under. There was basically nothing on that, but they
Speaker 1: were jumping up and down about the first home buyers
Speaker 1: grants and stuff like that.
Speaker 4: So I was like, ah, where are your values at?
Speaker 1: And obviously it's been very driven by making sure that
Speaker 1: they are getting votes. Another thing to understand about a
Speaker 1: budget is that's this government's budget. So if they're promising
Speaker 1: things and changes that are going to be made and
Speaker 1: our government changes, that doesn't mean that they have to
Speaker 1: uphold the promises that were made. With the budget. Another
Speaker 1: government proposed, they can change things, so it's proposed changes.
Speaker 1: Nothing in the budget that was allocated yesterday, except for
Speaker 1: the fuel thing, which we'll get to in a hot second,
Speaker 1: has been set in stone. So it's all like, here's
Speaker 1: the proposal of the budget, and then they kind of
Speaker 1: go through a phase of objections and people might jump
Speaker 1: up and down and be like, oh my gosh, that's awful,
Speaker 1: please don't do X, y Z, and then they might
Speaker 1: change their strategy. So it's essentially them sitting down and going, hey, JS,
Speaker 1: we've done all the work in the background, here's our
Speaker 1: proposed budget.
Speaker 4: What do you think?
Speaker 5: Yeah?
Speaker 4: Love it. There was obviously a provision and I'm sure
Speaker 4: you're going to touch on this in a second. A
Speaker 4: few tax cuts and things like that if we changed government.
Speaker 4: How likely is it that they would take those away?
Speaker 1: It depends on how big the tax breaks are. I
Speaker 1: highly doubt that they would take them away, because there
Speaker 1: has been some pretty good tax breaks. But let's get
Speaker 1: to that in a hot second, though, Jess, because I
Speaker 1: have a few like head topics that I want to
Speaker 1: talk about and will break down what it looks like
Speaker 1: under each so you don't feel like you're jumping back
Speaker 1: and forth from super to tax cuts to what it
Speaker 1: means for paid parental leaf.
Speaker 4: Is that all right?
Speaker 1: Does that make sense? Yeah, let's do it. So the
Speaker 1: first one, Georgia King, I'm very excited about this, as
Speaker 1: are you. You are obviously incredibly excited about parental leaf.
Speaker 3: Yeah. No, well no, I mean, I'm obviously not a
Speaker 3: parent yet, but over the past two years we've spoken
Speaker 3: about it a lot, and it's something that's really been lacking.
Speaker 3: So what are the changes.
Speaker 1: Oh, I really like this because I feel like the
Speaker 1: changes aren't just financial now, they are actually just about
Speaker 1: being a bit more inclusive. So first things first, obviously
Speaker 1: she's on the money financial changes. The budget this year
Speaker 1: included three hundred and forty six million dollars to increase
Speaker 1: the aid parental scheme from eighteen weeks to twenty weeks.
Speaker 1: So now parents who are taking time off get two
Speaker 1: extra weeks, and I think that that is a lot
Speaker 1: of time in the grand scheme of things, and that's
Speaker 1: a really good step in the right direction. And now, guys,
Speaker 1: they are combining the paid parental leave scheme with the
Speaker 1: dad and Partner Pays scheme into one single scheme, which
Speaker 1: you might go, what's the point of that, especially because you, guys,
Speaker 1: you're not parents, so you haven't had to look into this.
Speaker 1: But instead of the old scheme where it was the
Speaker 1: primary caregiver gets to take that leave, now both parents
Speaker 1: can actually choose how they spend that twenty weeks as
Speaker 1: they see applicable. So, Jesse, if you have a baby,
Speaker 1: you can just go, my partner's taking this, I'm taking that,
Speaker 1: or I'm taking at all and my partner's not taking anything.
Speaker 1: And I just feel like that's so much more inclusive
Speaker 1: and so much more twenty twenty than you the main
Speaker 1: primary caregiver, which is from my perspective, incredibly outdated.
Speaker 4: As is the term twenty twenty because twenty twenty two.
Speaker 5: Oh sorry, you know what, let's not even change that
Speaker 5: I am who I am, guys, much more inclusive, right,
Speaker 5: just recognizing that, like the family dynamic nowadays is very
Speaker 5: different from what it was a couple of decades ago,
Speaker 5: and that the primary caregiver can in fact be not
Speaker 5: the female.
Speaker 1: Yeah, which I'm not surprised by, but turns out politicians
Speaker 1: are a little bit weirded out by it.
Speaker 4: Better late than ever.
Speaker 1: Yeah, slowly, slowly from little things, big things grow, don't
Speaker 1: we say that's it?
Speaker 4: That's it.
Speaker 3: What's next on the list of me?
Speaker 1: Let's talk about health because just before I made a
Speaker 1: comment about how I was disappointed in health, and if
Speaker 1: you actually watched the budget like I did, you'd be
Speaker 1: like vie. They did allocate money towards health. I don't
Speaker 1: believe enough. But they did allocate some really good money
Speaker 1: towards some really good prevention initiatives. So they allocated a
Speaker 1: total of five hundred and forty seven million dollars over
Speaker 1: the next five years, including fifty two million dollars for Lifeline,
Speaker 1: obviously very important, forty three million dollars towards suicide prevention
Speaker 1: initiatives read, which I think is incredibly important as well,
Speaker 1: twenty nine million dollars to increase the number of psychiatric
Speaker 1: workers in the country, twenty four million dollars for programs
Speaker 1: about eating disorders, and eighteen million dollars is being targeted
Speaker 1: at multicultural communities, which I think is really great. That's
Speaker 1: all of those things are steps in the right direction.
Speaker 1: But where was aged.
Speaker 4: Care or anything physical health related. That's all mental health,
Speaker 4: which is.
Speaker 1: And visually health is so great. It is so great,
Speaker 1: But I think it's also really important to talk about
Speaker 1: the fact that, you know, with just being through COVID,
Speaker 1: and I think from my perspective, hospitals and nursing stuff,
Speaker 1: and a lot of our listeners are nursing stuff and
Speaker 1: they're just not getting the support they deserve, the bonuses
Speaker 1: they deserve, and they're working over time, and they're absolutely
Speaker 1: being thrown under a bus at the moment and being
Speaker 1: expected to lay there happily. Where was the funding for them?
Speaker 1: Where was the funding for the hospitals to support that?
Speaker 1: And I just feel like that was such a missing
Speaker 1: piece from this year's budget.
Speaker 4: Isn't it interesting as well? Like the pandemic really exposed
Speaker 4: I think some huge gaps in our preparedness for things
Speaker 4: like that. I would have thought that they would then
Speaker 4: allocate to prevent that from happening again. Like there's no
Speaker 4: money there for research or strategy or any kind of
Speaker 4: additional resources. So if we, god forbid, get hit by
Speaker 4: another plague, are we just going to be backing the
Speaker 4: same spot we were in. Yeah.
Speaker 1: Look, as much as Jess, I think that they have
Speaker 1: definitely not allocated enough. They've also allocated some resources to
Speaker 1: creating an mRNA vaccination here in Australia, which is the
Speaker 1: first time they've done that, and that's incredibly exciting, but
Speaker 1: it's only one step. It's not you know, as much
Speaker 1: as I had hoped they would be allocating. I don't
Speaker 1: know what they were expecting, and that's why I did
Speaker 1: feel like that segment was quite lean. They did have
Speaker 1: some funding in other healthcare areas. So for example, in
Speaker 1: women's health, they announced last week, not during the budget,
Speaker 1: but they announced last week an additional fifty eight million
Speaker 1: dollar for endometriosis support, which is obviously incredibly important. They
Speaker 1: also allocated forty million dollars to the McGrath Foundation's breast
Speaker 1: cancer Nurses program. Important, but what about all the other nurses?
Speaker 1: And I know that that sounds really entitled. I'm so
Speaker 1: grateful that we have support. So many countries don't have this,
Speaker 1: but I just feel like that missing piece is like
Speaker 1: grinding my gears significantly. And then there was an additional
Speaker 1: one hundred and thirty one million dollars that was allocated
Speaker 1: to treatments funded through Medicare, So that was stuff like
Speaker 1: genetic testing for stuff like cystic fibrosis and spinal muscular
Speaker 1: atrophy and fragile X syndrome, and also MRI diagnosises for
Speaker 1: liver and breast cancers and myocardtists. So all of that
Speaker 1: is really good, and I don't want to go into
Speaker 1: the numbers and break it down because that's not what
Speaker 1: you guys are here for to be like, oh, one
Speaker 1: thirty one. Can't believe though, did that? I thought it
Speaker 1: was going to be one twenty nine, Like, that's not
Speaker 1: the important thing. I think what we hear learning about
Speaker 1: is where their priorities are sitting and looking at it
Speaker 1: and going okay, cool, like they've allocated funding to healthcare. Great,
Speaker 1: how's that broken up? And I just think it potentially
Speaker 1: could have been broken up in a different way or
Speaker 1: found funding from a different location to add to it,
Speaker 1: because it's not like these areas that have had funding
Speaker 1: allocated to them aren't deserving of it. They absolutely are.
Speaker 1: And that's why I feel a bit. I feel like
Speaker 1: a bit of a dick, same that guys. But at
Speaker 1: the same time, I'm like, okay, cool, but what about
Speaker 1: the support for the average nurse, Like in mental health,
Speaker 1: why wasn't there some kind of mental health care plan
Speaker 1: put in place? For nurses or for healthcare workers. From
Speaker 1: the past two years, I feel like if we've learned anything,
Speaker 1: it's that we really need to be looking after our
Speaker 1: frontline workers. Where was any support for them? So I
Speaker 1: think that's the thing that's grinding my gears. But let's
Speaker 1: move away from health because I feel like that clearly
Speaker 1: is a trigger for me. Guys, what do you want
Speaker 1: to hear about next?
Speaker 3: So let's talk petrol prices.
Speaker 1: Love a good petrol price.
Speaker 3: We do. Obviously, that has gone up significantly this year
Speaker 3: because of everything happening overseas.
Speaker 1: Yeah, you would have seen it go down this week.
Speaker 3: I actually haven't had to fill ups.
Speaker 4: I haven't noticed.
Speaker 1: I noticed because I had to drive to work yesterday
Speaker 1: and I noticed that the prices had decreased because of
Speaker 1: the day before the budget. I had actually filled up.
Speaker 1: So I'm a little bit salty on this because I
Speaker 1: kind of knew it was coming, that I didn't know
Speaker 1: it would be immediate. So what happened was there was
Speaker 1: a fuel xcise, which is very exciting for us. If
Speaker 1: you know what a fuel excise is. Low jokes, no
Speaker 1: one knows what a fuel excise is, but it's essentially
Speaker 1: where they cut the amount of tax for a specific
Speaker 1: period of time. So the current flat petrol tax is
Speaker 1: forty four point two cents for every dollar of petrol,
Speaker 1: so that's pretty hefty, I reckon. But for the next
Speaker 1: six months it's being cut down to twenty two point
Speaker 1: one CeNSE per dollar, with the intention of that being
Speaker 1: passed directly onto the consumer. So instead of you know,
Speaker 1: the big corporates saving some tax and just charging you
Speaker 1: the same amount, the government is actually going to be
Speaker 1: watching and making sure that the distributors of fuel actually
Speaker 1: passing that on to the consumer because they're trying to
Speaker 1: help out hip pocket, which is very nice of them.
Speaker 1: There's no real reason why it's just six months. Maybe
Speaker 1: because they want their tax paid at some point, but
Speaker 1: hopefully that will get increased. And obviously there's been significant
Speaker 1: market pressure around the world from you know, we talked
Speaker 1: about the war that has been declared and all of
Speaker 1: the other stuff going on, but I don't think that's
Speaker 1: going away as quickly as six months. So we'll see
Speaker 1: what happens then. But for now, let's just revel in
Speaker 1: the fact that we get a discount on our fuel
Speaker 1: and that is very very welcome.
Speaker 3: We'll cop that was there anything else in the way
Speaker 3: of cost of living that they've addressed in this budget bait.
Speaker 1: Yes, So there are two things that I want to
Speaker 1: talk about in addition under the bracket of cost of living.
Speaker 1: And the first, my friends, is a tax cut. We
Speaker 1: love a tax cut and it's for the average bear.
Speaker 1: So if you earn under one hundred and twenty six
Speaker 1: thousand dollars this year, when submitting your tax return, you
Speaker 1: can expect a four hundred and twenty dollars tax cut,
Speaker 1: which is a money win for anyone earning under one
Speaker 1: hundred and twenty six thousand dollars. Important to understand, though,
Speaker 1: you obviously have to have paid that much in tax
Speaker 1: to be able to get it. So if you're in
Speaker 1: a position where you earn under eighteen thousand dollars, you're
Speaker 1: probably not going to be eligible. But for those of
Speaker 1: us who have average bare wages, that's a nice little
Speaker 1: tax bump at tax time.
Speaker 4: Certainly so, very us, very nus not bad.
Speaker 1: And for a little bit of context there, ninety percent
Speaker 1: of Australians are within that bracket. Really yeah, not bad,
Speaker 1: good sized guys.
Speaker 3: Well, that is good for all of us.
Speaker 1: But if you're not in that situation. Guys, there has
Speaker 1: been a two hundred and fifty dollars payment for welfare
Speaker 1: recipients declared, which is very exciting as well. It's a
Speaker 1: one off payment of two hundred and fifty dollars that
Speaker 1: will be paid to anyone who is currently receiving welfare.
Speaker 1: So that's our friends who are on Youth Allowance or
Speaker 1: on job seeker payments. They could be on a parenting payment,
Speaker 1: a disability support payment, or on the age pension. So
Speaker 1: that's a nice little cash bonus that will be hitting
Speaker 1: your back pockets if you are in that situation and
Speaker 1: might take a little bit of pressure off the fact
Speaker 1: that we are have been paying exorbitant amounts of money
Speaker 1: on fuel George.
Speaker 3: Kings, So what's the idea behind that? Because to me,
Speaker 3: obviously super privileged person doing okay in life, two hundred
Speaker 3: and fifty dollars doesn't sound like very much. Should that
Speaker 3: have been more? Or is the idea behind that that
Speaker 3: it just helps out with the groceries for a couple
Speaker 3: of weeks and petrol and stuff like that. What's the
Speaker 3: logic behind it?
Speaker 1: At the end of the day, if you are on
Speaker 1: any kind of welfare payment, The plan isn't to create wealth.
Speaker 1: It's actually to put you in a situation where you
Speaker 1: can put a roof over your head and put food
Speaker 1: on the table. It doesn't exist so that you can
Speaker 1: go and save a whole heap and create wealth and
Speaker 1: go on holidays like. That's not what welfare is for.
Speaker 1: It's to make sure that you are being able to
Speaker 1: do those things. But over the last few months slash year,
Speaker 1: especially with the rate of inflation and fuel price, I
Speaker 1: think it's a very reasonable thing for the government to go.
Speaker 1: You need a little bit of a cash bonus, You
Speaker 1: need a little bit extra in your back pocket, and
Speaker 1: I would be urging you if you have gotten that,
Speaker 1: to put it into something of use, like don't just
Speaker 1: blow it. But if you don't have an emergency fund,
Speaker 1: that would be a really great start.
Speaker 4: For one.
Speaker 1: If you have some debt, maybe that's a really good
Speaker 1: chunk of that debt that could be paid off. I'd
Speaker 1: be trying to make that money work as hard for
Speaker 1: you as you do. Yeah. Cool, Yeah, from my perspective,
Speaker 1: it's a nice little bonus. Do we really need to
Speaker 1: review welfare, Absolutely we do, But this is a step
Speaker 1: in the right direction. Guys, when was.
Speaker 4: The last time I have often do they review welfare payments,
Speaker 4: because I've heard a lot of conversation from people who
Speaker 4: are welfare recipients that it's literally not enough to live on.
Speaker 4: And that's the whole purpose of it, right, Like you said.
Speaker 1: Yeah, yeah, like the idea, and you know, I don't
Speaker 1: agree with this. This just is what it is. Is
Speaker 1: that welfare is meant to be an intra measure, not
Speaker 1: a long term solution, and it's an amount of money
Speaker 1: that puts you in a situation where hopefully you can
Speaker 1: put a roof over your head and food on the table,
Speaker 1: but also puts you in a position where you're motivated
Speaker 1: to get back into work or motivated to go and
Speaker 1: earn an income. So I agree that it's not enough
Speaker 1: and it needs to be reviewed. From my understanding, it
Speaker 1: hasn't been reviewed properly or fully in the last ten years.
Speaker 1: And as you guys know, with the rate of inflation
Speaker 1: last year being two point eight percent, and like, eh,
Speaker 1: if that's happened for the last ten years, that's pretty significant.
Speaker 1: So I think it does need a good review, but
Speaker 1: it's never going to be changed to be in a
Speaker 1: position where it's like Oh my gosh. Now it's sixty
Speaker 1: thousand dollars a year and you guys can sit comfortably.
Speaker 1: I think there is a lot to say about welfare.
Speaker 1: You know, a lot of people have a lot of
Speaker 1: colorful experiences. This is not opinion, this is just fact.
Speaker 1: The reason it is so low is because they don't
Speaker 1: actually want people relying on it. They want people to
Speaker 1: want to get into paid work, because that amount of
Speaker 1: money is coming from tax payers, and you know, at
Speaker 1: the end of the day, the world needs to keep
Speaker 1: going around.
Speaker 4: Obviously, everyone knows I'm going through a home journey right
Speaker 4: now because I haven't done about it enough. So I
Speaker 4: was really interested to see what was changed for first
Speaker 4: home buyers. Phie, what can you tell me about that?
Speaker 1: All right, So I'm excited about this because there's a
Speaker 1: regional aspect to this. But the government has announced that
Speaker 1: there are forty thousand more positions being added to the
Speaker 1: First home Buyer scheme, and ten thousand of those are
Speaker 1: being segmented into a new component specifically for our regional friends,
Speaker 1: which before wasn't the case and I think is absolutely necessary,
Speaker 1: which is really really exciting when it comes to housing prices, though,
Speaker 1: my friend the budget. They didn't predict that housing prices
Speaker 1: would go down. I'm sorry, I'm really sorry. It's not
Speaker 1: what we wanted to take here, But it is expected
Speaker 1: that as the interest rates climb and get a little
Speaker 1: bit higher, it's going to be putting a little bit
Speaker 1: more pressure on people and they're going to want to
Speaker 1: borrow less, which is ultimately going to take housing prices
Speaker 1: down slightly. So no, they're not predicting a housing price
Speaker 1: valuation drop, but I think with the pressure that an
Speaker 1: interest rate hike puts on people and families, it's going
Speaker 1: to mean you're going to either be borrowing less or
Speaker 1: not looking to get into the market as soon as
Speaker 1: you would have before.
Speaker 3: I noticed in my reading today VI that there was
Speaker 3: a bit of criticism about the lack of climate change
Speaker 3: action within this budget.
Speaker 4: Is the truth to that?
Speaker 1: I think there's a fair bit of truth to that.
Speaker 1: I expected a whole heap more, especially after the absolute
Speaker 1: garbage fire that has been the last few years, like
Speaker 1: in terms of bushfires, SuDS, everything. I feel like. Also,
Speaker 1: I was talking to my good friend Alicia hig Alisha.
Speaker 1: She listens to this show and she is heartbroken at
Speaker 1: the moment because she's been in New South Wales helping
Speaker 1: with flood relief and I had a tear in my
Speaker 1: eye watching her Instagram stories last night. I think they
Speaker 1: were private, so sorry you can't go watch them. But
Speaker 1: she's been out there volunteering and she's just like the
Speaker 1: media are gone. No one's talking about this. There are
Speaker 1: people with their houses still full of mud. There is
Speaker 1: black mold growing in people's homes, like this stuff isn't
Speaker 1: being moved. We just need more hands on deck. And
Speaker 1: none of that was covered. The fact that our country
Speaker 1: is literally still suffering and they kind of glossed over
Speaker 1: climate change and environmental parts of the budget was really disheartening.
Speaker 1: That said, they have devoted three hundred million dollars to
Speaker 1: quote resilience and a clean up measure in areas that
Speaker 1: do have major damage. That sounds like a lot of money,
Speaker 1: but can we quickly break down what the average house
Speaker 1: price in City and Melbourne is, Oh yeah, about a
Speaker 1: million dollars, So what three hundred houses is that all
Speaker 1: that was impacted. There's a lot more to this story
Speaker 1: because you're taking into consideration labor and tools and things
Speaker 1: to rebuild, and there's just so much more to this story.
Speaker 1: Than three hundred million dollars, And don't get me wrong,
Speaker 1: that's a lot of money, but is it enough?
Speaker 4: And Northern River has just got an evacuation warning for
Speaker 4: it again this week. Like there, I would say, coming
Speaker 4: into winter, surely these areas are at risk of the
Speaker 4: same thing happening and it's just devastating.
Speaker 1: And it's been split. So one hundred and fifty million
Speaker 1: dollars if that three hundred is going to the Northern Rivers,
Speaker 1: and that's good, but like from my perspective, I just
Speaker 1: don't think it's enough and we're not talking about this enough.
Speaker 1: There's been an additional thirty one million dollars allocated for
Speaker 1: mental health support, which makes a lot of sense. Again,
Speaker 1: I would want to see that being a bit higher
Speaker 1: because mental health support is going to be incredibly important.
Speaker 1: But yeah, I felt like it was really light on
Speaker 1: when it came to the environment, Like there was one
Speaker 1: billion dollars but over nine years to protect the Great
Speaker 1: Barrier Reef, which is, let's be honest, is already dying
Speaker 1: and you know needs a lot more than nine years
Speaker 1: worth of strategy. There was also one hundred million dollars
Speaker 1: allocated over three years to quote an environment Restoration Fund
Speaker 1: and fifty three million dollars over five years to support
Speaker 1: the recovery and conservation of koalas. So I get that,
Speaker 1: and I totally understand that koalas are important. I just
Speaker 1: feel like there's a lot of people in Australia that
Speaker 1: need a lot more right now.
Speaker 3: So climate change specifically, though be.
Speaker 1: There is one funding measure of two hundred and forty
Speaker 1: seven million dollars to encourage quote the private sector to
Speaker 1: invest in low emission to technology, which will mainly be hydrogen.
Speaker 1: That's not enough, Like it's not enough, but like, also,
Speaker 1: is that all you got? Isn't there other things that
Speaker 1: we can do? I thought there would have been.
Speaker 3: It's so confusing our country's lack of action, isn't it.
Speaker 1: It's actually really embarrassing. Like I'm embarrassed that we have
Speaker 1: so much support and so many people that back us,
Speaker 1: and so many things that we do as a country
Speaker 1: that are so impressive, and then it's like, oh, yeah,
Speaker 1: we're not doing much there though when we know it's
Speaker 1: a problem. Yeah, it's like how we treated our first
Speaker 1: nation's people, Like I just can't believe it took that
Speaker 1: long to get where we are. So there was some
Speaker 1: allocation in the budget this year for our First Nation's friends,
Speaker 1: which I think is incredibly important. So first things off
Speaker 1: the butt is there is a twenty million dollar allocation
Speaker 1: to make sure the transfer of the copyright to the
Speaker 1: Aboriginal Flag moves across to the Commonwealth, which I think
Speaker 1: is really exciting because historically or over the last few years,
Speaker 1: it has been licensed by a company who has stopped
Speaker 1: people using it, and I think it should be able
Speaker 1: to be liberally used by absolutely everyone in that community.
Speaker 1: So that is absolutely a step in the right direction.
Speaker 1: Then there is thirty two million dollars that has been
Speaker 1: all towards establishing thirty five local and regional voice bodies
Speaker 1: for First Nations people to participate in policy discussions and
Speaker 1: service delivery, which I'm really excited about. There's then one
Speaker 1: hundred and seventy three million dollars going to be allocated
Speaker 1: for critical services in the Northern Territory, and a further
Speaker 1: three hundred and seventeen million dollars for the Nogura Cultural
Speaker 1: Precinct near Parliament in Canberra, which is going to include
Speaker 1: the National resting Place to house ancestral remains with unknown
Speaker 1: providence We've got this space where they are actually going
Speaker 1: to be recognized, which is really really special. So I
Speaker 1: think that that is absolutely a step in the right direction.
Speaker 1: Bit disappointed that we were talking about things like welfare
Speaker 1: and there weren't any specific mentions of First Nations people
Speaker 1: who we know are under even more significant financial pressures,
Speaker 1: especially living regionally most of the time, So I would
Speaker 1: have liked to see that, but it just wasn't there.
Speaker 3: Let's talk now about women vee. You mentioned earlier the
Speaker 3: endometrios's package in healthcare. Yeah, paid parental leave, that's amazing.
Speaker 3: Is there anything else that we really get out.
Speaker 4: Of this budget?
Speaker 1: Yes, Specifically, there has been a total of one point
Speaker 1: three billion dollars over six years, not as sexy, but
Speaker 1: over six years allocated towards a range of programs to
Speaker 1: reduce violence against women and children, which is obviously welcomed
Speaker 1: with open arms. It is what they are calling the
Speaker 1: first phase of the government's quote National Plan to end
Speaker 1: violence against women and Children by twenty thirty two. Very
Speaker 1: very exciting. However, I guess to put a little bit
Speaker 1: of a negative spin on that the current national plan
Speaker 1: that was established in twenty ten hasn't actually fulfilled on
Speaker 1: any of the deliverables or most of the deliverables that
Speaker 1: it's set out. So I think that's really important to
Speaker 1: point out because that's a lot of money being allocated
Speaker 1: to something really important. Why can't we make that work? Yeah,
Speaker 1: so important to break that down though. That funding is
Speaker 1: going to include one hundred and four million dollars for
Speaker 1: national prevention organization our Watch, one hundred and twenty eight
Speaker 1: million dollars for national counseling services for victim survivors, forty
Speaker 1: eight million dollars for an early intervention campaign aimed at
Speaker 1: boys and young men love to see It, two hundred
Speaker 1: and forty million dollars to extend an Escaping Violence Payment,
Speaker 1: which I think is really really powerful, which is actually
Speaker 1: going to mean that women who are in a situation
Speaker 1: where they are forced to leave an abusive relationship can
Speaker 1: access up to five grand to help them out of
Speaker 1: that situation. There's one hundred million dollars being extended to
Speaker 1: the Safe Places program, which provides emergency accommodation for those
Speaker 1: experiencing family or domestic violence, and one hundred and fifty
Speaker 1: one million dollars on recovery services for victim survivors, which
Speaker 1: is very very important. The other thing guys really excited
Speaker 1: this year and the budget they talked about consent, so
Speaker 1: very separately to the National Plan. The government is actually
Speaker 1: going to be spending a total of thirty two million
Speaker 1: dollars on a consent campaign that is going to be
Speaker 1: aimed at youth aged twelve years and older and their parents.
Speaker 1: And this wasn't actually news to us on budget night.
Speaker 1: We knew that this had actually been announced a little
Speaker 1: bit earlier. But five million dollars is also going to
Speaker 1: be spent to conduct a national survey of high school
Speaker 1: students so we can fully comprehend what their understanding of
Speaker 1: consent is. So I think that's a really good step
Speaker 1: in the right direction and some data collection that hasn't
Speaker 1: been done before that I think will be really powerful
Speaker 1: over the next few years.
Speaker 3: I wonder how much that was influenced by Chantel Contos.
Speaker 3: Is that how you pronounce her surname?
Speaker 1: I think so that's how I would have pronounced her surname.
Speaker 3: There's just so many women did such incredible work, and
Speaker 3: they have been doing for the last two years.
Speaker 1: So for those who might not know who Chantell is
Speaker 1: or what her impact has been George who is she
Speaker 1: quick Rundown?
Speaker 3: So forgive me if I get this a little bit wrong,
Speaker 3: but she essentially started this kind of movement in I
Speaker 3: think it was Sydney's like Golden Suburb and she basically said,
Speaker 3: I've been a victim of sexual assault. How many of
Speaker 3: you have had the same thing happened to you? And
Speaker 3: it was targeted at private school boys, I believe. Anyway,
Speaker 3: the response was incredible, so many women had experienced the
Speaker 3: same thing, and from that it just kind of grew
Speaker 3: into this huge national yeah movement exactly right, and not
Speaker 3: unlike the Me Too campaign, I guess a little bit,
Speaker 3: but on a more local level. And she's yeah, she's
Speaker 3: done incredible work. Yeah.
Speaker 1: No, I think it's really important to talk about that
Speaker 1: kind of stuff as well, because as much as the
Speaker 1: budget is kind of dry and kind of boring, understanding
Speaker 1: it means you're going to understand what our government's priorities
Speaker 1: are over the next few years and what it means
Speaker 1: for you and how it's going to impact you. And
Speaker 1: at the end of the day, this is not a
Speaker 1: political podcast by any stretch of the imagination, but understanding
Speaker 1: how different governments allocate or are proposing to allocate funding
Speaker 1: is going to tell you a lot about their values
Speaker 1: and what they stand for, because they can say one
Speaker 1: thing and say, oh my gosh, we're really going to
Speaker 1: stand behind women and violence. But then if they've allocated
Speaker 1: nothing in their proposed budget, you kind of go, okay, well,
Speaker 1: you weren't serious about that, were you. So it's about
Speaker 1: making sure that their words are kind of aligning with
Speaker 1: their actions, which I think is very deep. But you know,
Speaker 1: move away from politics. I think for a second, I
Speaker 1: think it's interesting to really understand how our budget and
Speaker 1: how our taxpayer dollars are distributed, and whether you're happy
Speaker 1: with that or not, because at the end of the day, like,
Speaker 1: we do get a say in this, not a super
Speaker 1: deep say, but we do get a say in this,
Speaker 1: and that's how it all falls out. But of course, guys,
Speaker 1: it's also really important to remember that these are promises.
Speaker 1: They are not set in stone. So it'll be really
Speaker 1: interesting to see if they do get elected, if they're
Speaker 1: actually going to put their money where their mouth is,
Speaker 1: or if maybe they were running their mouths a little
Speaker 1: bit to get into a position of power. So I
Speaker 1: think let's look at historicals and make sure that if
Speaker 1: someone is saying they will do something, have they been
Speaker 1: known to do that before? Like do they walk the
Speaker 1: world when they talk the talk? I don't know.
Speaker 3: Forgive me if this is a potato question, ladies, But
Speaker 3: if Scott Morrison Schomo is voted out and Albanesi al
Speaker 3: Elbow gets in voted in yep, then what happens to
Speaker 3: this budget?
Speaker 1: Is it different way? A different doesn't get thrown away
Speaker 1: per se. I'm sure that they will be like, oh cool,
Speaker 1: We'll just take notes, like I'm not going to let
Speaker 1: you do an entire assignment and leave it on the table.
Speaker 1: I'm gonna maybe try and copy you, borrow a few bits,
Speaker 1: make me make sure it doesn't look too play drives.
Speaker 1: Reform it, make it look like it was my idea.
Speaker 1: They change the font, put an explanation mark at the
Speaker 1: end of a few sentences. Brilliant original. But the federal
Speaker 1: budget that just came out was the current budget for
Speaker 1: the current government, and the opposition will actually give a
Speaker 1: budget based on what they think the money should be
Speaker 1: allocated towards very soon, so it'll be interesting to see
Speaker 1: the dimensions of how things change and what that actually
Speaker 1: looks like and what our friend Alba is actually going
Speaker 1: to do. So you can have a look at that
Speaker 1: and go how is he allocating funds? What does this
Speaker 1: look like? So that I can make the right decision
Speaker 1: for me in line with my values.
Speaker 3: It's handy for the opposition because they can read the feedback,
Speaker 3: read the room, and make adjustments as they say.
Speaker 1: Fit cut paste. It's not plagiarism. I hope that has
Speaker 1: given you a little bit of insight as to what
Speaker 1: the budget actually means, how it works, and what this
Speaker 1: year's budget has delivered us or potentially proposed. But as always,
Speaker 1: if you guys have any questions, jump into our Facebook group,
Speaker 1: slide into our dms and have a conversation with us.
Speaker 1: But as always, that is all we have time for.
Speaker 1: So Gee, would you please let everybody know that I
Speaker 1: am quite literally a licensed to financial advice.
Speaker 3: Absolutely would be a pleasure. Remember guys, that the advice
Speaker 3: shared on She's on the Money is general in nature
Speaker 3: and does not consider your individual circumstances. She's on the
Speaker 3: Money exists purely for educational purposes and should not be
Speaker 3: relied upon to make an investment or a financial decision.
Speaker 3: Victoria Divine is an authorized representative of in focused Securities Australia.
Speaker 3: Pried She Limited a BN four seven zero nine seven
Speaker 3: seven nine seven zero four nine AFO sala two three
Speaker 3: six five two three Oh.
Speaker 1: She's getting speedy. Happy Friday, guys. We will see you
Speaker 1: next week.
Speaker 4: Bye guys,