Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 2: Hello, and welcome to She's on the Money, the podcast
Speaker 2: for millennials who want financial freedom. Today, my friends, it's Friday,
Speaker 2: which means it is time to get our little team
Speaker 2: together and celebrate you our incredible She's on the Money community. Today,
Speaker 2: we're going to be sharing our favorite money wins or
Speaker 2: Miss Jess Ricci across the table from me is sharing
Speaker 2: your favorite money ins. We'll be helping to answer a
Speaker 2: juicy money dilemma, which this week is all about how
Speaker 2: to improve your credit score, and we're going to be
Speaker 2: unpacking something that you slid into our dms about all
Speaker 2: about how to support your friend's side hustle. So, guys,
Speaker 2: how has the week been? Beck? You're here? Have you
Speaker 2: had a good week? What have you been up to?
Speaker 4: I've had a really good week. The weather's beautiful and
Speaker 4: I'll tell you what. I'm a little bit sleepy, but
Speaker 4: like in a good.
Speaker 2: Way, in a satisfying way, like in a summer sun,
Speaker 2: Like in a.
Speaker 4: Summer sun, seeing mates, doing some going to the gym
Speaker 4: once every bi annually and.
Speaker 2: I feel good to the gym. No, I cannot relate
Speaker 2: to that. Miss Jess Grici, how are you? How's your
Speaker 2: week been? Are you exhausted as well? I feel like
Speaker 2: you're going to be.
Speaker 5: And I feel like as well because this week's a
Speaker 5: short week for those in VIC and maybe no, not
Speaker 5: yourself else but other stuff.
Speaker 2: But it's definitely not in Queensland because you know what
Speaker 2: I did on Monday? I had, oh my gosh, this
Speaker 2: is so fancy. Get this. I had a speaking event
Speaker 2: for Lareel. I love lare Matrix, their hair care brand. Anyway,
Speaker 2: I went and I spoke to all of their salon
Speaker 2: owners in Queensland on Monday and I booked it so
Speaker 2: far out, so it was all booked and you know,
Speaker 2: we'd organized it, and I was so excited about it,
Speaker 2: and they've given us like their schedule and when you
Speaker 2: book a speaking event, they'll be like, yep, it's on
Speaker 2: you know, this Monday at this time, and you go, yep,
Speaker 2: I can make that ten out of ten. So I
Speaker 2: booked it in just super excited to be working for Laurel, Like,
Speaker 2: that's so wild that I didn't see in my calendar
Speaker 2: that it was a public No I had to fly
Speaker 2: And this is not me complaining by any stretch. I
Speaker 2: feel so privileeged. I met so many nice people, but
Speaker 2: it meant that I had to fly up on Sunday
Speaker 2: because the speaking event was for breakfast on the Monday.
Speaker 2: And I was like cheers at the public holiday. Didn't
Speaker 2: plan that one well in saying that by the time
Speaker 2: I flew back to Melbourne and home, it was five pm.
Speaker 2: And because it was a pubably holiday, there was no trip.
Speaker 2: Oh that is very good. So that was a very
Speaker 2: good money in. But I just feel like we have
Speaker 2: been as a team go go for the last three weeks,
Speaker 2: like we have just wrapped up our International Women's Day events,
Speaker 2: and I've never had more fun in my life, Like, oh,
Speaker 2: it was the best to Beck. You got to come
Speaker 2: to the Melbourne one. Yeah, it was so fun. Oh
Speaker 2: my gosh.
Speaker 4: It was so nice, like meeting the community and actually
Speaker 4: like talking to people. And I'm shocked by how many
Speaker 4: people could recognize my face because I.
Speaker 2: Know that we're purely audio. There's also had been posting
Speaker 2: about you on the internet.
Speaker 5: That's so nice.
Speaker 2: It's just so nice.
Speaker 4: It was a really really fun, wholesome day.
Speaker 2: Yeah, Yess, did you have fun?
Speaker 6: Oh my rage.
Speaker 5: Yes, I feel like we dragged Jess to every state.
Speaker 5: Loved it, great time. It was really I can't believe
Speaker 5: how many people we went. We had over fifteen hundred
Speaker 5: attendees across the states, which is an insane amount of people,
Speaker 5: so many more people than last year. And just the
Speaker 5: kindness and how open and lovely everybody was. You know,
Speaker 5: people say to us, it's really strange to like see
Speaker 5: us in person, because normally we're just a voicing they ears.
Speaker 5: But it goes the other way too, Like normally for us,
Speaker 5: you're on the other side of a screen, like I'm
Speaker 5: talking to on Instagram or victorious talking to you on
Speaker 5: Facebook like whatever. It is so for us to be
Speaker 5: able to hug you and talk to you, it's just
Speaker 5: as exciting.
Speaker 2: And we know, I don't know if that sounds creepy
Speaker 2: because obviously the community is quite large, but like Jess
Speaker 2: and I are obsessed with you guys, So like, if
Speaker 2: you've been dming us, I'm really sorry, but we have
Speaker 2: clicked on your profile picture, like we have seen your
Speaker 2: bio if your profile was public, I've seen your cat,
Speaker 2: I've sen your dog, like, and I feel like so
Speaker 2: many people came up and they're like, oh, hi, like
Speaker 2: so nice to meet you, and I was like, oh,
Speaker 2: obviously you two. They're like, oh, my name's Anika. I
Speaker 2: DM you. Sometimes I'm like, oh my god, yeah, how's
Speaker 2: your dog? Yeah, like talking about the situation that we
Speaker 2: might have been there, it's just so wholesome and it
Speaker 2: feels like we're meeting all of our best friends, Like
Speaker 2: it's something that I said to you our team. I
Speaker 2: was like, this is going to be so important for
Speaker 2: us moving forward because as a podcast, like right now,
Speaker 2: there's four of us in the room, so there's just
Speaker 2: there's Beck, there's myself, and there's the gorgeous and a
Speaker 2: Lisa who keeps us on track, which we are wildly
Speaker 2: off at the moment. But it's one of those things
Speaker 2: where it really reignites our team's passion as well. Like
Speaker 2: sometimes content creation can become really monotonous and like you go,
Speaker 2: oh my god, what are we going to talk about
Speaker 2: next week? Far Okay, something in the media is going
Speaker 2: on about souper, let's talk about that. But just seeing
Speaker 2: your faces having these gorgeous conversations, I feel like it
Speaker 2: really motivates us and reignites that passion, even just for
Speaker 2: us to go, oh my god, let's give those guys more,
Speaker 2: Let's give them what they deserve. And it's just it's
Speaker 2: my favorite thing in the entire world, getting to share
Speaker 2: life with you guys.
Speaker 5: It's the best thing ever.
Speaker 2: I can't believe it's my job. Let's move on before
Speaker 2: we get there, though. At the end of the show,
Speaker 2: a few of you in Melbourne might remember and Alisa
Speaker 2: floating around. She is our gorgeous producer and she was
Speaker 2: getting like little vox pops. She obviously had her recording
Speaker 2: gear there and got some comments from you guys, and
Speaker 2: so we're going to drop those at the end of
Speaker 2: this episode, So if you want to hear from you,
Speaker 2: you're on at the end of the EPP. Guys.
Speaker 5: How exciting.
Speaker 2: But let's move on because Jess, one of my favorite
Speaker 2: parts of the week is talking about our community's money wins.
Speaker 2: What have you round up for us?
Speaker 5: Firstly this week, I have a money win from Meghan,
Speaker 5: who said I got a thirty dollars rebate from our
Speaker 5: council for putting in a compost bin. Every money win matters,
Speaker 5: and we've just moved into our first home.
Speaker 2: Oh, I'm going to check the council website. I was
Speaker 2: just thinking that.
Speaker 5: I was like, I don't have a compost bin. Do
Speaker 5: I get money, Mack, because I would get a.
Speaker 2: Compost bin and you would like money back because you're
Speaker 2: Jess exactly right.
Speaker 5: So we'll be jumping on my local website to check
Speaker 5: that out. My next money win comes from Chelsea, who said,
Speaker 5: after hearing she's on the Money's advice about speaking to
Speaker 5: a broker to find out what I should be doing
Speaker 5: to afford a property. I was thinking I was a
Speaker 5: few years away. I reached out and I just found
Speaker 5: out that I'm basically ready house hunting here.
Speaker 2: I can that is literally my favorite thing ever.
Speaker 7: Starning.
Speaker 2: So many people actually come in our doors Xella money
Speaker 2: and they're like, yeah, cool, I just want to like
Speaker 2: know where I'm at for the next twelve months and
Speaker 2: with you know, some careful planning and maybe a subsidy
Speaker 2: that you didn't realize you could access or a scheme
Speaker 2: that exists. Often you're actually further ahead than you think
Speaker 2: you are.
Speaker 5: Quick intermission. The cooling in our studio is broken. We've
Speaker 5: complained about this the last couple of weeks. And one
Speaker 5: literally like forty degrees in very very hot. It's very tasty.
Speaker 5: But someone just brought us around some ice cream.
Speaker 2: Yeah, on a little trolley like with what was it
Speaker 2: like a speaker on the front. It's all decorated with Yeah,
Speaker 2: I'm ever in the office for party days. I'm here.
Speaker 2: I'm glad you got to see one. And yes, you
Speaker 2: always post about the mor on Instagram and I'm always like,
Speaker 2: excuse me, did this happen literally the second I left
Speaker 2: the office, And you're always like, yes, it's literally to
Speaker 2: celebrate your departure. But let's get back on the community
Speaker 2: Money Wins train. Keep eating though, please, oh we will,
Speaker 2: don't you worry? If you hear little nibble in the background,
Speaker 2: that's just me. Sorry.
Speaker 5: But My next money win comes from Ashley, who said
Speaker 5: I just got a refund eighty dollars from Disney Plus.
Speaker 5: I couldn't watch my favorite show. It just wouldn't play
Speaker 5: contacted support and they couldn't fix the issue, so they
Speaker 5: refunded me the rest of my yearly subscription that I
Speaker 5: renewed in November.
Speaker 2: Do you get to keep the subscription? I'm assuming she does.
Speaker 5: I would assume so too.
Speaker 2: Oh sit, wow, good customer service.
Speaker 5: Would you give up your favorite show on Disney Plus
Speaker 5: for a free year of Disney Plus so you can't
Speaker 5: like it?
Speaker 8: Done?
Speaker 5: You can't watch NCIS or like whatever your favorite show is.
Speaker 2: Yeah, I would take it, Yeah, Tayler.
Speaker 5: Yeah interesting.
Speaker 6: Interesting.
Speaker 2: I I'm a woman of many compromises.
Speaker 9: Yeah, not much.
Speaker 5: She wouldn't do it for a free year of Disney Plus.
Speaker 5: My next money win comes from Emily, who said money win.
Speaker 5: I used the voucher for Alice KT from the International
Speaker 5: Women's Day event, and because I live in Queensland where
Speaker 5: lskd HQ is, I could select Pick three pickup so
Speaker 5: I didn't have to pay for shipping. She picked two
Speaker 5: items that totaled thirty dollars, so she was zero dollars
Speaker 5: out of pocket.
Speaker 2: Yeah, and that was amazing things with so I'm obsessed.
Speaker 2: You guys already know that I am so excited about
Speaker 2: the International Women's Stay show bags, even though there's none left.
Speaker 2: And one of the things that we were so particular
Speaker 2: about when putting them together is I don't want your
Speaker 2: ten percent off voucher for when I spend over one
Speaker 2: hundred dollars, like, put that in the bin. So when
Speaker 2: we were putting things together, we obviously only worked with
Speaker 2: brands that you guys would be obsessed with and ones
Speaker 2: that we already love. And you guys know that we
Speaker 2: love LSKD. Yeah, user the code Victoria for ten percent off,
Speaker 2: You're welcome. But also they put literal thirty dollars vouchers
Speaker 2: into our gift bags this year with them spend. Is
Speaker 2: that not super generous?
Speaker 1: Yeah?
Speaker 2: Yeah, it was actual sick And obviously she didn't even
Speaker 2: have to pay postage. So that's the best money when
Speaker 2: I've heard in my life. That's amazing.
Speaker 4: Do you guys get those nude wine vouchers or like constantly?
Speaker 2: They already have to spend like one hundred and fifty dollars, Like,
Speaker 2: just get in the bin. Stop trying to sell me
Speaker 2: shitty wine.
Speaker 5: Stop it moving around long. My next money win comes
Speaker 5: from Mariam, who said she found out about Spotify Duo
Speaker 5: and now we're both able to save four dollars a
Speaker 5: month each. Now someone else said they found out about
Speaker 5: Spotify Student, which saves them six dollars a week. So
Speaker 5: I feel like if you're paying for Spotify, you shouldn't
Speaker 5: be paying full price. Because there were so many wins
Speaker 5: this week from people about Spotify, like I don't know
Speaker 5: if they've just done a new has it.
Speaker 2: Been like a campaign or something recently.
Speaker 5: There were so many of them, so I thought I
Speaker 5: would just mention it Spotify Student, Spotify Family, Spotify goodness
Speaker 5: knows what else not sponsored.
Speaker 2: But this is probably not ethical to say, but I
Speaker 2: just give my friends the long game that too, Yeah,
Speaker 2: that's fair. It's not very good. So when my husband
Speaker 2: goes on a run, he'll always take his phone and
Speaker 2: listen to music, right, And that often happens on a
Speaker 2: Saturday or a Sunday morning when I'm at home, like
Speaker 2: cleaning or something, and so that it's actually quite detrimental
Speaker 2: because he'll kick me off Spotify, and I'll kick him
Speaker 2: off Spotify, and then he'll kick me off Spotify. And
Speaker 2: anyway works really well until you come into a situation
Speaker 2: where you both want to use it at the same time.
Speaker 5: It's like a fight to the death for the Spotify.
Speaker 2: Yeah, leadership.
Speaker 5: Well, that's my last money win for the week.
Speaker 2: Guys, I love that. All right, let's go to a
Speaker 2: really quick break and on the flip side, we're going
Speaker 2: to talk about how to improve your credit score, how
Speaker 2: quickly Jessic Ricky can eat ice cream, and how to
Speaker 2: support your friend's side hustle. So guys, do not go anywhere.
Speaker 5: Oh rdy. Everybody, welcome back. Let's listen to this week's
Speaker 5: money dilemma.
Speaker 2: Shall we.
Speaker 5: Hi? There?
Speaker 2: Have you got a money dilemma you just can't solve?
Speaker 2: The Sheese on the Money team is here to help.
Speaker 2: Every week, we tackle your dilemmas, both big and small,
Speaker 2: to answer your most burning money, career and life questions.
Speaker 2: To get involved, simply head to our website and leave
Speaker 2: us a short voice recording and you might just find
Speaker 2: yourself on the show. Now, let's take a listen to
Speaker 2: this week's money dilemma.
Speaker 6: Hi, tiam, I just wanted to share my money dilemma.
Speaker 6: To make a long story short, the last couple of years,
Speaker 6: I made some irresponsible decisions with a credit card whilst
Speaker 6: living overseas. Although I never considered myself super lavish, I
Speaker 6: ended up with ten K debt, which I've since paid back,
Speaker 6: but not before it went to collections. So now my
Speaker 6: credit history is basically shot to pieces. So I wanted
Speaker 6: to get some advice on how a regular person can
Speaker 6: go about repairing their credit history or is this something
Speaker 6: you just have to wait out until however many years pass,
Speaker 6: I think it was four years that I read, but
Speaker 6: I would love to know how to improve my credit
Speaker 6: score after being in collections.
Speaker 5: All those who have been personally victimized by credit card
Speaker 5: debt after coming back from overseas, please say I I I,
Speaker 5: You're not alone.
Speaker 2: I feel like that's really important to point out, actually
Speaker 2: just because it's not I don't know. I feel like
Speaker 2: sometimes when you're listening to a money podcast, you carry
Speaker 2: a lot of guilt because we are out here with
Speaker 2: all the tips and tricks that you should be doing.
Speaker 2: But whilst I'm good with money today, I haven't always
Speaker 2: been good with money and tips and tricks like if
Speaker 2: it's more of a do as I say, not as
Speaker 2: I do kind of vibe, you know, so don't look
Speaker 2: too deeply. First things. First I would say is please
Speaker 2: don't google how to repair credit scores in Australia and
Speaker 2: then click the first link that is sponsored that says
Speaker 2: fix your credit today from Credit Clean Australia. Sneaky, so sneaky.
Speaker 2: It's so fast and easy to get a credit file
Speaker 2: assessment and then we will help you fix it. Don't
Speaker 2: do that, you can do it on your own. Yeah,
Speaker 2: like they'll charge you for that pleasure because work. No, babe,
Speaker 2: read the room back. It's one of those things where
Speaker 2: it does it work. The answer is actually yes, it
Speaker 2: would absolutely work. But are they doing stuff that you
Speaker 2: could already do and should already be doing for yourself. Yes,
Speaker 2: they should be. And the first thing I want you
Speaker 2: to do is if you don't know what your credit
Speaker 2: score is, is you're going to go to a reliable
Speaker 2: website to get your credit score done. So two of
Speaker 2: the biggest ones are Equifax and Experience, and a more
Speaker 2: user friendly option is actually, our friends are wiser and
Speaker 2: we can put the link to that in the show notes,
Speaker 2: because I think it's really important that we all know
Speaker 2: our credit score. It's not a full blown credit inquiry
Speaker 2: to go and get your credit score, and I recommend
Speaker 2: that everybody goes and looks. And the reason I would
Speaker 2: look is not because you're trying to get a loan
Speaker 2: or not because you're like, oh, I worried about debt.
Speaker 2: What we actually want to do is make sure that
Speaker 2: it is relevant and actually our content, because sometimes if
Speaker 2: we don't check our credit score, we don't know if
Speaker 2: someone's using our identity fraudulently, if we, you know, had
Speaker 2: someone muck up and you know, put a bill against
Speaker 2: our name that wasn't ours and that's why it's not
Speaker 2: been paid off and gone to collections. Or maybe your
Speaker 2: telephone company forgot to send you a bill and you
Speaker 2: know you've missed it and never paid it, and you
Speaker 2: could actually amend that. So there's a lot of things
Speaker 2: on there that you could actually fix. In a perfect world.
Speaker 2: You look at your credit history, it comes back and
Speaker 2: you tick every single box because you go, yep, no,
Speaker 2: that makes sense. That was a credit inquiry for a
Speaker 2: phone plan I took out. That was you know, a
Speaker 2: loan I had, or that's my mortgage, or that's a
Speaker 2: car inque. Like everything should on your credit score makes sense,
Speaker 2: and if it doesn't, you need to talk to the
Speaker 2: people who issued it to like start the process of
Speaker 2: the what the hell right. But the next thing is
Speaker 2: really understanding that in Australia your credit score is created
Speaker 2: very differently to your credit score if you are American.
Speaker 2: So if you're an American, you kind of like earn your
Speaker 2: credit score by being in debt, like by getting credits.
Speaker 2: So like a really recommended way in America is to
Speaker 2: go and establish a credit card and pay it off regularly, right,
Speaker 2: because you'll get a good credit score for paying that
Speaker 2: credit That is not true in Australia. You do not
Speaker 2: need a credit card to establish a good credit history.
Speaker 2: What you need to do, my friends, is stay out
Speaker 2: of debt. And while that is a really not great situation,
Speaker 2: it's gone to collections that really sucks. You're right, it's
Speaker 2: going to take two years to come off your credit history.
Speaker 2: But in the interim, a few things that you can
Speaker 2: do to you know, improve your credit score would be
Speaker 2: if you have a credit card, lowering a credit limit
Speaker 2: on that will usually instantly increase your credit score, because
Speaker 2: the less debt that you have access to, the more
Speaker 2: reliable you are. You can limit the amount of applications
Speaker 2: that you make for credit, so I wouldn't be going
Speaker 2: and applying for new credit cards. One credit card is
Speaker 2: not going to solve the issue of the last one,
Speaker 2: unless there's an actual strategy at play, in which case
Speaker 2: you would already know that making sure that you're paying
Speaker 2: your rent and your mortgage and your bills on time
Speaker 2: is essential because here in Australia, that's how we get
Speaker 2: a good credit score is by making sure that we
Speaker 2: don't have things that go to collections or we don't
Speaker 2: have bills that lapse or get late fees. So late
Speaker 2: fees and stuff like that will negatively impact your credit score.
Speaker 2: If it's directly through your energy supplier, well that's usually,
Speaker 2: to be honest, pretty fine. They're just increasing your bill
Speaker 2: because you didn't pay on time and they're seeing dollar
Speaker 2: bills in their eyes. But if it goes to an
Speaker 2: external third party, that can be an issue. Obviously, utility
Speaker 2: bills and stuff like that, all of it on time.
Speaker 2: And then if you do have a credit card and
Speaker 2: that's something that you still rely on and you need
Speaker 2: you need to make sure that you pay that credit
Speaker 2: card on time each month, and obviously if you can
Speaker 2: pay it in full or make sure you're paying more
Speaker 2: than the minimum repayments, and that can actually help contribute
Speaker 2: to a higher credit score. So if the minimum payment
Speaker 2: on your credit card's fifty two dollars, how much over
Speaker 2: that can you afford? It might not be triple that's fine,
Speaker 2: but it might be a few dollars. Going above the
Speaker 2: minimum repayment can have a really positive impact on your
Speaker 2: credit score, which I don't think a lot of people
Speaker 2: know that would just go but I paid it like
Speaker 2: they sent me a bill. Yeah, they sent you a
Speaker 2: bill for the absolute minimum to get by, So we
Speaker 2: need to actually go above and beyond that. Not only
Speaker 2: will that help your credit score, but it will actually
Speaker 2: help you get out of debt quicker. And that's what
Speaker 2: we want to see anyway.
Speaker 5: Yeah, that's a big win. And we've done two episodes
Speaker 5: on credit scores in the past, so if you want
Speaker 5: a bit more information on what that could look like,
Speaker 5: head back. We've done one called a Deep Dive on
Speaker 5: credit scores and one called keeping your Credit Score.
Speaker 2: In Check, which you might find helpful. That was a
Speaker 2: good question though, Vickid, Yeah, because I ask one question
Speaker 2: before we move on bb Yes, so obviously, you know,
Speaker 2: my credit score is really really bad.
Speaker 4: It's like in the one or two hundred's, that's right.
Speaker 2: I still got a credit score that's sexy. Yeah, yeah, nice.
Speaker 4: The people out of there don't have because it's so many.
Speaker 2: It can go, yeah, it can go. It can't go negative,
Speaker 2: but it could be like real close to zero. So
Speaker 2: I mean having your three figure credit score get going?
Speaker 4: Okay, and it feel so bad, but so basically right now,
Speaker 4: because I obviously can't get a credit card or anything.
Speaker 4: So do I just literally stay off the grid for
Speaker 4: however many years and then or just gradually get better
Speaker 4: on its own? Do I just do nothing?
Speaker 5: Pay your stuff on time?
Speaker 2: You're not off the grid? So just because you don't
Speaker 2: have a credit card does not get you out of
Speaker 2: the loop. You have rent to pay yet, Yes, you
Speaker 2: have any type of bill? Yes, so your name is
Speaker 2: on a bill. Yeah, so if you didn't pay that
Speaker 2: bill and it went to collections, that would negatively impact
Speaker 2: your credit score? Yes, oh yes, yeah, so paying it
Speaker 2: positively impacts your credits? Okay, So I think that's the
Speaker 2: biggest misconception when it comes to your credit score. You
Speaker 2: assume that to have a good credit score, it means
Speaker 2: you need to have credit. Just having a bill coming
Speaker 2: in and consistently paying it is going to be brilliant
Speaker 2: for you. Okay, doesn't mean that you can go get
Speaker 2: a credit card tomorrow, but it means that we can
Speaker 2: work back up to having a good credit score, which
Speaker 2: is going to enable us more financial freedom in the future.
Speaker 2: So it's not something I want you to stress over today,
Speaker 2: but it's one of those things that I genuinely think
Speaker 2: that we are a bit misconstrued because we're so aligned
Speaker 2: to Oh, well, in America, you need to xize it.
Speaker 2: And I mean every article about it is often based
Speaker 2: on the American way of living, and that's just not
Speaker 2: how it is in Australia. So you are not off
Speaker 2: the grid regardless of whether you have a credit line
Speaker 2: or not.
Speaker 4: Well, it's actually mind blowing. I really was believing that
Speaker 4: the American credit score system was the one that we
Speaker 4: used as well.
Speaker 2: It's actually very different. And I think it's a good
Speaker 2: question as well, because it really reiterates that just by
Speaker 2: doing good and being good and paying your bills on
Speaker 2: time is actually really contributing towards you having a good
Speaker 2: and secure financial future. And I hate the idea because
Speaker 2: how many times we heard it on the pod before
Speaker 2: Jess or in our community where people are like, oh,
Speaker 2: when I turned eighteen, my dad told me to get
Speaker 2: a credit card because it will build my credit and
Speaker 2: it's like, thank you, bro science, Yeah, bro science. Let's
Speaker 2: move on from that though.
Speaker 5: If you speaking about helping out ourselves, but what about
Speaker 5: helping out our friends, specifically with small businesses.
Speaker 2: Oh that was a segue of dreams. I am always
Speaker 2: impressed with you. So this week one of you slid
Speaker 2: into our DMS and the second I saw this question,
Speaker 2: I was like, Jess is going to love this. This
Speaker 2: is so spicy. Becky's going to have opinions. So we
Speaker 2: put it on the Instagram stories. You guys gave us
Speaker 2: your opinions, but the call out was this. It said, Hey, guys,
Speaker 2: I'm face a dilemma all in capital that is, so
Speaker 2: it must be a really big dilemma. I have a
Speaker 2: close girlfriend who runs her own business, and I really
Speaker 2: admire and support her. However, when I ordered something that
Speaker 2: was handmade from her came back, not at all how
Speaker 2: I wanted it. I spent one hundred and twenty dollars
Speaker 2: on it, and I'm currently facing a head versus heart battle.
Speaker 2: On one hand, I just want to support her and
Speaker 2: I don't want her to feel deflated. But on the
Speaker 2: other hand, one hundred and twenty bucks was a bit
Speaker 2: of a splash for me, and I either want my
Speaker 2: money back or just what I ordered. I hope this
Speaker 2: makes sense. I'm really keen to hear your thoughts.
Speaker 4: Oh that's a really tricky one.
Speaker 2: What did you do?
Speaker 4: Well? I don't know, like I want First of all,
Speaker 4: I want to know what the product is.
Speaker 2: I want to.
Speaker 5: See'st I totally get the need for anonymity, but also
Speaker 5: I feel like context is key.
Speaker 4: Yes, yeah, we yeah that yeah, because you need to know,
Speaker 4: like if it's something that will cost so much money
Speaker 4: to redo, or if it's something that would take a
Speaker 4: little bit of time but probably not much money, Like
Speaker 4: we need to know that kind of thing, like can
Speaker 4: she redo the one that you have, like if painting,
Speaker 4: can she paint over the painting and change it? Or
Speaker 4: is she going to be out for new materials and
Speaker 4: new whatever is a piece of is it like pottery
Speaker 4: proper nose.
Speaker 2: Before we dive deeper into this, though, can I just
Speaker 2: give a little bit of kudos to this friend for
Speaker 2: paying full price for something that her friend makesuse. I
Speaker 2: love to see that, and I think that if your
Speaker 2: friend has a business, the most disrespectful thing you can
Speaker 2: do is be like, oh my god, i'm friends with you.
Speaker 2: Can I have a discount? But I'm sorry, it's just
Speaker 2: not appropriate from my perspective, if your friend gives you
Speaker 2: a discount unsolicited and says, oh my gosh, like, of
Speaker 2: course you can have it for this, like I don't know,
Speaker 2: different story, yeah, but like if your friend is working
Speaker 2: hard to hustle themselves all the way to the top,
Speaker 2: like why should you get it cheaper?
Speaker 5: And she really cares about her friend because she's having
Speaker 5: this delance.
Speaker 2: So kudos to that. I absolutely love it, really smart,
Speaker 2: But also I feel like it's too who sided, right,
Speaker 2: Just what would you do?
Speaker 5: I feel like I would talk to her, and you know,
Speaker 5: you've got to be really delicate about how you approach it.
Speaker 5: But I think, like the twofold, firstly, you've invested a
Speaker 5: lot of money, and so if it wasn't your friend,
Speaker 5: you'd be going back and saying, hey, it's kind of
Speaker 5: what I stand for. So I don't think it is
Speaker 5: unreasonable to do that. And I think the flip side
Speaker 5: of it is, if your item didn't come as expected,
Speaker 5: there's a good chance that the same thing will happen
Speaker 5: to somebody customers who may not be as considerate or
Speaker 5: as kind. So I think if you can approach it
Speaker 5: with her gently and just say, hey, oh, I was
Speaker 5: really excited because in the photo it was pink and blue,
Speaker 5: but the one I got is orange or whatever it is,
Speaker 5: pointing out and be specific, because I think.
Speaker 2: You don't just say it wasn't what I expected. Can
Speaker 2: you fix it?
Speaker 7: Like?
Speaker 2: That's still one helpful Yeah.
Speaker 5: I think if you're specific, you can point out exactly
Speaker 5: the detail that you don't love, and that gives her
Speaker 5: something that she can clearly action and fix.
Speaker 2: Yeah, agreed.
Speaker 5: It's positive feedback for her to take forward for her
Speaker 5: future orders. And also it's a little bit less personal,
Speaker 5: like you're not saying, oh, it's shit, I don't like it.
Speaker 5: You're like, oh, I just really wanted this color or
Speaker 5: this shape or this size or whatever the problem is.
Speaker 2: I couldn't agree more with that. I think that is
Speaker 2: nail on the head. I also think to add to that,
Speaker 2: I think your friend deserves the feedback. I agree if
Speaker 2: you are a genuinely supportive friend of their business, just
Speaker 2: letting it lie and somebody else, like the general public
Speaker 2: coming back is going to be worse for her because
Speaker 2: we've seen it before where people blow up online or
Speaker 2: post it on Instagram, or you know, do something that's
Speaker 2: maybe not the kindest way to deliver feedback. And you
Speaker 2: have this great opportunity to go, hey, Beck, this is
Speaker 2: so awkward for me, and I've really been wondering how
Speaker 2: to approach it, and to be honest. I just think
Speaker 2: honesty is the best policy. This isn't what I expected.
Speaker 2: You know, it was green and I wanted orange, and
Speaker 2: you know, I don't know where the communication went wrong,
Speaker 2: or you know, maybe there's been a material change, like
Speaker 2: they've been making this one thing out of a particular
Speaker 2: material for a really long time, Like it's you know,
Speaker 2: a photo frame and you know it's wood, and it's
Speaker 2: just changed to like plastic that looks like wood. Oh,
Speaker 2: it's just it's not the quality that you know you
Speaker 2: used to have, or it's not what I expected. I
Speaker 2: think that can actually be really powerful. But I think
Speaker 2: as a friend, obviously you're worried about it, but I
Speaker 2: think even just prefacing, like hey, I hope you know
Speaker 2: that what I'm about to say is coming from a
Speaker 2: place of kindness. I'm not trying to be a dick,
Speaker 2: I promise. I think people get the I don't know
Speaker 2: sometimes from my perspective. We've talked about this on the
Speaker 2: pod before, where it's kind of like get your money's
Speaker 2: worth and do this and do that. I also think
Speaker 2: that the type of personality I have is the type
Speaker 2: where I really need to preface something to make me
Speaker 2: comfortable with that situation too. Like it's like when I'm
Speaker 2: giving feedback or when I'm locking in a meeting with you, Jess,
Speaker 2: I have to be like, hey, can we have a meeting.
Speaker 2: Don't worry, it's a good thing. Like I just want
Speaker 2: to make sure that you're not anxious about this. I
Speaker 2: want to make sure that you're comfortable. And do I
Speaker 2: need to do that? Do you need to know? Absolutely not?
Speaker 2: But it makes me more comfortable with that, And I
Speaker 2: think by saying that that might help you in those conversations.
Speaker 2: We asked a few questions on our stories though, and
Speaker 2: there seems to be a bit of a thing, right,
Speaker 2: So we asked, do you have a close friend who
Speaker 2: runs their own business slash side hustle, We love to
Speaker 2: see this. Sixty two percent of you said yes, Wow,
Speaker 2: isn't that cool? Yeah, she's in the money community, like, oh,
Speaker 2: love it. Then we said, have you ever purchased something
Speaker 2: from a friend that has a small business. Forty eight
Speaker 2: percent of you said absolutely, fourteen percent of you said no,
Speaker 2: and thirty eight percent of you hit the button. I
Speaker 2: just want to press a button. So cheers for that vice.
Speaker 2: But we felt it was important to add that because obviously,
Speaker 2: if you just wanted to see the results, you might
Speaker 2: have fake voted yeah, right, yes, it's good to see
Speaker 2: that forty eight percent of you have done that. I
Speaker 2: don't actually think that there should be an obligation to
Speaker 2: purchase things from your friend's business either. I know that
Speaker 2: supporting your friend is great, and you know, resharing their
Speaker 2: business posts and you know, always commenting on things and
Speaker 2: showering them with love and supporting every achievement they have
Speaker 2: is what we should all be doing. But if it's
Speaker 2: not a product you're going to use, I genuinely don't
Speaker 2: think you should have an obligation to buy it. I agree.
Speaker 2: I think a lot of the time we feel the
Speaker 2: need to. Though I've been there. I totally have been there.
Speaker 2: So of the people we asked, have you ever purchased
Speaker 2: an item from a friend, we asked what was your
Speaker 2: sole motive behind purchasing that product? Two percent of you,
Speaker 2: and this is why I'm saying you don't have to
Speaker 2: do this. Two percent of you said arts because I
Speaker 2: love the product, five percent of you said because I
Speaker 2: really wanted to support my friends. Lovely, twenty five percent
Speaker 2: of you said both of the above, and then thirty
Speaker 2: seven percent of you said, do you want to to
Speaker 2: press a button? Yeah?
Speaker 5: I get it though, because like when you have a
Speaker 5: friends startup business and you want to be supportive, and
Speaker 5: you kind of go, well, if you're starting fresh from
Speaker 5: ground zero, you've got no custodomers, Like unless you've built
Speaker 5: up a following or you've got an Instagram page, you
Speaker 5: know they're starting with literally shit all so like them
Speaker 5: share there like there is a lot, as you said,
Speaker 5: there are a lot of other things that you can
Speaker 5: do if you're not in a financial position to support them.
Speaker 5: But I totally get the oh, I'll be your first order,
Speaker 5: or oh, I want them to have a good week,
Speaker 5: so I'm going to put one in. Like it's lovely
Speaker 5: that people want to support their friends so much.
Speaker 2: I'm that friend. But also we are headed towards a recession,
Speaker 2: and I don't want people to feel stressed about money,
Speaker 2: especially when it comes to supporting a friend's business. You
Speaker 2: can do that. To be honest, in the long term,
Speaker 2: just buying from them is not nearly as powerful as
Speaker 2: sharing them with your community or positively advocating for them
Speaker 2: or giving them a Google review or something like that
Speaker 2: can actually build business for them in the future for
Speaker 2: recurrent orders, whereas you just ordering it once off might
Speaker 2: feel really special, but it's not nearly as powerful. Yes,
Speaker 2: we asked our community in this situation, what would you do?
Speaker 2: Thirty percent of you said I would give her the feedback.
Speaker 2: Twenty three percent of you said I'd just feel too
Speaker 2: bad and I wouldn't do that.
Speaker 5: Yeah.
Speaker 2: Another thirty three percent of you said it really depends
Speaker 2: on the circumstanceays A fourteen percent of you said do
Speaker 2: you want to press a button?
Speaker 5: Yeah.
Speaker 2: Of that, some of the opinions were really nice. They
Speaker 2: said I'd flag it with her in the nicest way possible.
Speaker 2: I love her. Someone said I wouldn't say it, but
Speaker 2: I just wouldn't buy it again, which I get it,
Speaker 2: But is that constructive not helping anybody? Someone said, serve
Speaker 2: it as a feedback sandwich emerge.
Speaker 5: I love a feedback.
Speaker 2: Should we step it back to management one O one
Speaker 2: in twenty ten? Or like a feedback sandwich is where
Speaker 2: you give a positive thing, a negative thing a positive
Speaker 2: thing and use, like sandwich it all together to make
Speaker 2: it feel better. I agree. Someone said, I really love
Speaker 2: your I need to press a button response You're welcome.
Speaker 2: Someone said, look for your friend to be successful in
Speaker 2: her business, she needs to know the feedback so she
Speaker 2: can improve. And I feel like all of these comments
Speaker 2: were really aligned to the conversation we've had, so we're
Speaker 2: clearly as a community all on the same page. But TLDR,
Speaker 2: you want to help your friend in business. You want
Speaker 2: them to do the best they possibly can, and they
Speaker 2: think that that feedback no matter how hard it is,
Speaker 2: I mean, approach it with kindness. And if your friend
Speaker 2: is having a really shitty week, not the week, probably
Speaker 2: not the week, use your brain, but I think that
Speaker 2: it can be one of the better things. And I
Speaker 2: mean I've had it before. I've had people approach me
Speaker 2: about She's on the Money when I was starting and
Speaker 2: be like, oh, hey, the way you said this probably
Speaker 2: didn't land the way you thought it did. I hate
Speaker 2: hearing it, but I love getting the feedback because I
Speaker 2: know that if one of my friends saw that, somebody
Speaker 2: I don't know is feeling that and wouldn't ever approach
Speaker 2: me about it, and it's really not helping us grow.
Speaker 2: It's not helping us be the best version of us.
Speaker 2: So I love feedback, as much as sometimes it can
Speaker 2: feel really bad. If it's constructive, I'm always so happy
Speaker 2: to take it on. So I hope that you do
Speaker 2: give her the feedback in yeah, the kindest way possible,
Speaker 2: my friend.
Speaker 5: Yeah, be gentle and don't forget if you want to
Speaker 5: participate in those conversations. If you want to button to press,
Speaker 5: come follow us on Instagram. We're at Cheese on the
Speaker 5: Money AUS. We do these every single week. And if
Speaker 5: Instagram's don't think Facebook, we love a good comment station.
Speaker 2: On guys here twenty three thousand followers on TikTok are
Speaker 2: we the biggest account on TikTok. No, do we have
Speaker 2: the biggest ego?
Speaker 10: Yes?
Speaker 2: Yeah, maybe, yeah, No we do. It's not me, it's Brook.
Speaker 2: I hope she doesn't listened to the podcast. Wait, she
Speaker 2: listens to every podcast because she's the one that does
Speaker 2: the podcast video.
Speaker 5: She's going to cut that clip and put on TikTok
Speaker 5: and do you dirty?
Speaker 2: Well, you know, you get what you get and you
Speaker 2: don't get upset. I gave her leave to go to
Speaker 2: Thailand and hopefully she'll miss justice. Guys, that is all
Speaker 2: we have time for in person today. Anna Lisa, our
Speaker 2: beautiful producer, is about to drop in here some highlights
Speaker 2: from our Melbourne International Women's Day event, so stick around
Speaker 2: for that, but we will see you next week. Have
Speaker 2: a good weekend, guys. Bye guys, Bye. Happy International Women's Day.
Speaker 5: I'm good. I feel high vib like it's the excitement
Speaker 5: and the adrenaline and everyone's just so lovely and having
Speaker 5: the best time, and I feel like International Women's Day
Speaker 5: is such a special day, Like I cried during the speeches,
Speaker 5: of course because I am that person, but everyone is
Speaker 5: just so open hearted and warm and lovely that it's
Speaker 5: my favorite day. Honestly, Happy International Women's Day.
Speaker 2: Happy International Women's Day.
Speaker 5: How are you back?
Speaker 2: I'm just waking up, but I'm good. Okay, she's about
Speaker 2: to hit the stage. This is a really big deal,
Speaker 2: and I'm just going to harass her for one second.
Speaker 2: Hello and welcome. She's on the money. Happy International Women'sday,
Speaker 2: Happy International Women's Stem. I'm so excited. How does she feel.
Speaker 2: I'm really anxious. I've done three anxious weets. What's an
Speaker 2: affordable luxury to you, Victoria, Oh, a really good copy
Speaker 2: without worrying about how much it's going to cost you. You know,
Speaker 2: when you're like go and you can tap your card
Speaker 2: and you just know that there's enough cash on there
Speaker 2: and you can afford your oat late and it doesn't
Speaker 2: matter about how much alternative milks cost. That's affordable luxury
Speaker 2: to me.
Speaker 4: Lour pack butter oat milk, my morning coffee.
Speaker 5: I won't go without my coffee.
Speaker 2: Do you have any special milk?
Speaker 4: Yeah, I'm too scared to say, Victoria, I drink almond milk.
Speaker 3: Sucked in, Victoria.
Speaker 9: My retinal retinol, I'll plug it. Medicai crystal ten expensive.
Speaker 9: I always find it on sale, which makes me feel
Speaker 9: a little bit better about it. But I figure I'm
Speaker 9: putting it on my skin five nights a week. Your
Speaker 9: skin's the biggest organ on your body, and hopefully preventative,
Speaker 9: so that you know my skin is looking fresh when
Speaker 9: I get a little bit older. That's my way of
Speaker 9: justifying an expensive product for long term use. Love being
Speaker 9: a retinal galley.
Speaker 2: It's the best.
Speaker 4: Your skin is glowing, Oh my goodness.
Speaker 11: Affordable luxury this is a bit of a random one,
Speaker 11: I guess, But I guess me being able to have
Speaker 11: lots of running water. I know that sounds really random,
Speaker 11: but like I, because I suffer from chronic migraines, I
Speaker 11: find that water is actually a really great way to
Speaker 11: reduce them, so taking like long showers and like long baths.
Speaker 11: I'm very happy that I get to have that as
Speaker 11: my every day, every week thing to like manage my pain.
Speaker 2: So it feels like a luxury, I guess.
Speaker 9: I don't know.
Speaker 2: I don't know if that's depressed.
Speaker 7: My affordable luxury is when I can't be bothered to
Speaker 7: take the train I drive into work and paper parking
Speaker 7: because I hate catching trains.
Speaker 2: So that is my ford luxury.
Speaker 3: Mine would have to be jewelry, even during COVID. When
Speaker 3: we weren't going anywhere, I would still treat myself to
Speaker 3: a new piece just to wear at home.
Speaker 2: I can confirm the ladies looking good with her bling
Speaker 2: right now. Yes, thank you.
Speaker 3: Yeah, that was definitely made me feel special.
Speaker 2: Affordable luxury.
Speaker 12: I saw this really interesting thing online the other day
Speaker 12: about being able to get home safe, and I hate that,
Speaker 12: that's what I'm saying.
Speaker 2: But I feel emotual about it.
Speaker 12: Being able to afford to get a dB home. Yeah,
Speaker 12: and if the only one you could get home is
Speaker 12: like sure you want having the money to do that,
Speaker 12: that's it for me.
Speaker 2: Why it is not emotional? No, it's true. If it's
Speaker 2: incredibly emotional safety, it's like a right. But I hate
Speaker 2: that that's the thing.
Speaker 12: It was women that we have to think about and
Speaker 12: have spare money for, you know, like my husband never
Speaker 12: has to think about that.
Speaker 4: My I think my big money goal for twenty twenty
Speaker 4: three is to start saving hopefully, you know. I don't
Speaker 4: want to be I don't want it to be too extravagant.
Speaker 4: I feel like by the end of twenty twenty three,
Speaker 4: I want at least a couple hundred.
Speaker 2: Dollars and that's that's really it. That'll satisfy me.
Speaker 10: Just save more, Yeah, just say save money.
Speaker 13: That's it.
Speaker 3: I want to buy a car by the end of
Speaker 3: the year and there a new car.
Speaker 12: Mine is to control my impulse spending and go to
Speaker 12: Europe with a bit of financial freedom and come back
Speaker 12: and still have saved money by the end of the year.
Speaker 3: Money goal, I think would definitely just be saving for
Speaker 3: a house to posit. Just getting into that born savings mode.
Speaker 3: It feels like a long road, but I know if
Speaker 3: you just chip away, you'll get there.
Speaker 7: I have a couple of money goals for this year.
Speaker 3: Last year was a.
Speaker 7: Little bit hectic for me money wise. I moved out
Speaker 7: of home, my car broke down, a lot of things happened.
Speaker 7: So my money goal for twenty twenty three is to
Speaker 7: resave my emergency fund and to pay off my credit
Speaker 7: card debt.
Speaker 10: The big money goal for twenty twenty three is we
Speaker 10: actually have our own baby podcast, and so it's to
Speaker 10: baby make my first money with that so that I
Speaker 10: can maybe like start not using my personal money to
Speaker 10: fund it. It's differently brained, so that's why Chloe was
Speaker 10: such an amazing guest today. So we talked to different
Speaker 10: neurodivergent guests and people who've had challenges with mental.
Speaker 2: Health, and we talk.
Speaker 10: About their lived experience, breaking down the stereotypes and misconceptions
Speaker 10: around what autism.
Speaker 2: Looks like and what ADHD looks like.
Speaker 10: So I'm autistic in ADHD and my co host is
Speaker 10: Bipola and OCD. So just trying to change things up
Speaker 10: a bit, much the same way that Lovely Victoria in
Speaker 10: your team does.
Speaker 3: I was just wondering if either of you have had
Speaker 3: a big money lost lately, like got a bargain or
Speaker 3: had like a parking fine, or.
Speaker 8: She's the queen of parking fines. I've had two parking
Speaker 8: fines in my lifetime and couldn't have happened, shouldn't have happened? Yes, No,
Speaker 8: And that was that was less of a money when
Speaker 8: I guess you could say more of a money loss,
Speaker 8: let's go with that.
Speaker 2: It was not a lot of fun.
Speaker 8: I actually had a permit to park there, but I
Speaker 8: had just forgotten to display it. So it was just
Speaker 8: it was authorful a good of promotion last year. That
Speaker 8: was quite a money for me the end of last year,
Speaker 8: so coming into this year, paid off the fine, paid
Speaker 8: off the fine for me, We'll go with that. Yeah,
Speaker 8: I cancel each other for me. My money when is.
Speaker 8: I bought my first apartment, so that's that.
Speaker 2: Yeah.
Speaker 8: Yeah, pretty proud of me because twenty one that's crazy.
Speaker 3: So well, I've actually just had a big money goal
Speaker 3: achieve so we've just bought a big five bedroom house.
Speaker 2: For all the kids.
Speaker 3: So yeah, so that's probably money loss as well, but
Speaker 3: it's also a goal achieve So yeah, I've had.
Speaker 13: A bit of a up and down relationship with money.
Speaker 13: I was in a pretty abusive relationship last year and
Speaker 13: that caused a big money loss. But I've worked really
Speaker 13: hard and mums supported me a lot in the last
Speaker 13: twelve months and I've been able to save up twelve
Speaker 13: grand in the last twelve months.
Speaker 11: So that's like my main money win. Yeah.
Speaker 2: Yeah, she's worked really hard. I'm so proud of her.
Speaker 2: She's on the money.
Speaker 6: She's on the money.
Speaker 2: She's on the money. She's on the money. She's on
Speaker 2: the money. She's on the money. The advice shared on
Speaker 2: She's on the Money is general in nature and does
Speaker 2: not consider your individual circumstances. She's on the Money exists
Speaker 2: purely for educational purposes and should not be relied upon
Speaker 2: to make an investment or financial decision. If you do
Speaker 2: choose to buy a financial product, read the PDS TMD
Speaker 2: and obtain appropriate financial advice tailored towards your needs. Victoria
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