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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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

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Speaker 4: Millennials who want financial freedom. Today, my friends, it is Friday,

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Speaker 4: which means it is time to get our little team

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Speaker 4: together and celebrate you, our incredible She's on the Money

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Speaker 4: community today, Miss beck say it is going to be

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Speaker 4: sharing some broke tips.

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Speaker 2: Miss Jess Gricci is off.

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Speaker 4: Sick because she had the audacity to get her wisdom

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Speaker 4: teeth out. So guess what we've replaced her with a baby.

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Speaker 4: Harvey is here. Yeah, thank you, Harvey. He's absolutely ready

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Speaker 4: to share some favorite money wins and confessions from the community,

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Speaker 4: and we're going to be helping to answer a juicy

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Speaker 4: money dilemma, which this week we're chatting all about aprs

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Speaker 4: versus interest rates, and we're going to be unpacking something

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Speaker 4: you slid into our DMS about which this week we're

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Speaker 4: talking about having to pay when you pull out of

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Speaker 4: a wedding due to pregnancy complications.

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Speaker 2: I feel like.

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Speaker 4: That's going to be so spicy, and as somebody who

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Speaker 4: has experienced pregnancy, I'm probably going to be also spicy.

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Speaker 2: True, But Beck, yes, how was your week? What have

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Speaker 2: you been up? It was so good? Why so good?

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Speaker 4: Well?

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Speaker 5: Okay, so I had a really lovely weekend.

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Speaker 4: It was.

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Speaker 5: It was a pretty big one and I think I

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Speaker 5: was just craving a big one, you know.

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Speaker 2: But also a big weekend. I think I was.

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Speaker 5: I think it's been really chill for too long and

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Speaker 5: like obviously, like you haven't really been working that much.

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Speaker 5: And I had a big weekend, saw a lot of

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Speaker 5: friends and last Weeken and I saw Missy Higgins.

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Speaker 4: I'm sorry where because like you didn't call me and

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Speaker 4: tell me she was around.

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Speaker 2: She's literally my favorite. I am I know every.

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Speaker 4: Single word to every single one of her songs and

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Speaker 4: I have done since like grade seven.

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Speaker 2: You would have loved it. I'm obsessed with her. You

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Speaker 2: can still see her.

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Speaker 5: She's coming back in June, and I think she's like

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Speaker 5: going around Australia, but for some.

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Speaker 2: Reason, she's playing in Melbourne and June again.

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Speaker 5: Playing the Palais, you know, such a sick location. It

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Speaker 5: was really nice and I was like, I don't venture

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Speaker 5: that way, but for Missy Higgins.

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Speaker 4: I'll go as far as I need to go to

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Speaker 4: Missy Higgins. Yeah, Slay, I love that.

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Speaker 2: Really amazing, So thank you so much. I was a

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Speaker 2: really good week. How was your week? My week was good.

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Speaker 4: I've just been out here parenting. I mean, I'm not

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Speaker 4: the first person in the entire world to have a

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Speaker 4: business and you know, have a child, but it genuinely

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Speaker 4: sometimes feels like I'm trying to make it work and

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Speaker 4: like what do I do and how does it work?

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Speaker 2: Which is why Harvey's here today.

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Speaker 4: Actually, I didn't want to be recording with him all

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Speaker 4: the time, because like I do like to separate work

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Speaker 4: and life, but I double booked myself and I feel

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Speaker 4: like that's one stereotypical Victoria but two like, you just

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Speaker 4: do what you've got to do, So bring your baby

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Speaker 4: to work day. Absolutely, And I'm very lucky that I

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Speaker 4: work in a situation where that's completely possible, because like

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Speaker 4: so many parents could never But I just lump my

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Speaker 4: responsibilities onto you guys, and it works well for me.

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Speaker 6: It does.

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Speaker 2: Actually, we're begging. We're begging to take care.

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Speaker 4: I got in trouble the other day actually because I

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Speaker 4: came into the office and people are like, where's Harvey,

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Speaker 4: And I was like, he's at home with my very

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Speaker 4: confident husband.

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Speaker 2: Why are you asking They're like, oh, because we wanted

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Speaker 2: him here.

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Speaker 4: They weren't actually questioning why I wasn't looking after my baby.

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Speaker 2: Hello, you've talked to that conclusion.

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Speaker 4: I mean, I've I'm very used to that kind of

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Speaker 4: experience in the office for a few years now, because

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Speaker 4: we bring Lucy in and so like in the office,

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Speaker 4: I have been known for a very long time as

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Speaker 4: just Lucy's mom, Like, who's Victoria. Nobody cares about Victoria.

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Speaker 4: I get it. So that experience wasn't you. But now

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Speaker 4: I'm Harvey's mum.

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Speaker 5: Oh yeah, okay, okay, Well now you're like people in

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Speaker 5: the office a steel like Lucy's mom some of Harvey's mom.

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Speaker 5: I feel like now you're just like you're even less seen,

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Speaker 5: and I'm sorry about that, but I will see you.

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Speaker 4: I'm all right with that because I'm seeing a lot

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Speaker 4: of other places and sometimes it's just really nice.

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Speaker 2: Yeah, humbled.

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Speaker 4: Oh yeah, just keeps me grounded, you know, yes, But

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Speaker 4: speaking of humboldt, have you got some like broke tips

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Speaker 4: for us so that we can keep ourselves humble? Yeah?

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Speaker 5: I actually do, actually do, And I am not going

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Speaker 5: to be as rogue this week.

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Speaker 2: You've decided to like take a little steppy step back.

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Speaker 5: Honestly, I think next week I will be rogue again.

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Speaker 5: But I figured where for jess to be here because

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Speaker 5: I feel like she really enjoys them.

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Speaker 2: Yeah.

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Speaker 4: Like that video, and I don't know if you guys

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Speaker 4: saw it, I'll probably post it again to my stories.

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Speaker 4: It's just Jessica cackling like a little witch.

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Speaker 2: She just could not stop.

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Speaker 4: We stopped recording because she was cackling so hard and

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Speaker 4: she couldn't stop.

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Speaker 2: It was great. It was so sweet.

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Speaker 4: Have you thought about going into comedy because you're a

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Speaker 4: funny girl?

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Speaker 2: Oh my goodness, that's so cute.

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Speaker 5: I feel like when you're a regular person, you're just

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Speaker 5: like you can be a funny person, but when you're

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Speaker 5: a comedian, it's like you're funny.

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Speaker 2: You know, you're like proper funny. Oh that's very sweet.

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Speaker 4: I'd pay as much as you paid to go see

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Speaker 4: me see Higgins.

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Speaker 2: Oh my goodness, I just really like you. That's so sweet.

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Speaker 5: Maybe that's a broke tip. Get into comedy.

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Speaker 2: Make your friends pay to seat Yeah.

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Speaker 5: Exactly, no matter what you're doing. Yeah, yeah, yeah, pay

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Speaker 5: to play, baby exactly. All right, what have you got? Okay,

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Speaker 5: So I have, as always two from the community, one

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Speaker 5: for myself. So we'll start off with Taylor. This one's

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Speaker 5: like from Taylor, but also from my girlfriend, who gave

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Speaker 5: me the exact same bit of advice just over the weekend.

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Speaker 5: So they both say, get your fruits and veg from

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Speaker 5: farmers markets, the local markets that my partner goes to,

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Speaker 5: Paran Market. She paid thirty five dollars for a huge

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Speaker 5: box of fruit and veg and she made like this

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Speaker 5: soup that will last the entire week. That's a whole

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Speaker 5: week of dinners. I'm pretty sure it's for her and

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Speaker 5: her housemates. So a whole week of dinners for two people.

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Speaker 5: I feel like you could probably even get more out

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Speaker 5: of it. She chucked a lot into this soup. But

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Speaker 5: you could really extend this. This could last weeks conceivably,

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Speaker 5: so giant box of fruit and vege. Go to your

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Speaker 5: local farmer's market.

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Speaker 2: Farmer's Market's also really wholesome.

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Speaker 4: That's an activity, that's a free activity, even if you're

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Speaker 4: not planning on purchasing anything.

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Speaker 6: Back.

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Speaker 4: Next Sunday morning, you and I could go to the

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Speaker 4: farmer's market. We could make our own coffees, take them,

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Speaker 4: wander round.

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Speaker 5: Feel wholesome. That's so wholesome. It is really wholesome. It's

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Speaker 5: so good for the mental health. Like I don't know

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Speaker 5: what it is about, what's the science, but.

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Speaker 2: I think it's actually getting out in their fresh air. Yeah,

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Speaker 2: probably that's what it is.

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Speaker 5: Like that's actually scientifically proven to help you. I really

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Speaker 5: love that. So that is one broke tip. The other

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Speaker 5: one comes from Megan or Meghan. I'm sorry I'm saying

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Speaker 5: this wrong. This is very clever. No need for dry

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Speaker 5: shampoo use Bi carves soda instead. She pops it in

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Speaker 5: a little salt shaker and it's instant dry shampoo. So

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Speaker 5: I've never had to use dry shampoo. We don't really

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Speaker 5: know how it all works, to be honest with you,

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Speaker 5: but I'm obsessed with dry shampoo, and I feel like

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Speaker 5: that is a great hack. Yeah, Like it's I mean,

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Speaker 5: I don't know how much it costs, but it's you know,

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Speaker 5: bike up soda I'm assuming is less than hand bugs

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Speaker 5: of box.

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Speaker 4: Yeah, Like dry shampoo is expensive. Like my can of

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Speaker 4: dry shampoo's at least twenty dollars. Well, there you go.

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Speaker 2: That's a money wins very expensive. For my goodness. I mean,

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Speaker 2: my hack.

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Speaker 4: When it comes to like keeping your hair clean is

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Speaker 4: not using dry shampoo. Because I literally will use dry

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Speaker 4: shampoo to avoid washing my hair, right, so you could

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Speaker 4: just wash your hair too, sure, Like, don't get me wrong,

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Speaker 4: dry shampoo can save the day. But when you're Victoria

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Speaker 4: Vine and you've just been using it so that you

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Speaker 4: don't have to do the rigmarole of washing, Yeah, just

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Speaker 4: wash your hair, babes, just wash it. Do you know

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Speaker 4: how much better you feel when you wash your hair? Like,

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Speaker 4: you know, when you've been putting it off and you're like, oh,

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Speaker 4: I feel a little bit greasy, I'm a bit gross,

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Speaker 4: Like to me, dry shampoo doesn't make you feel incredible.

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Speaker 4: It makes you look good, but like I don't feel fresh. Yeah,

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Speaker 4: sometimes you do need to have a shower.

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Speaker 2: Totally get that. Totally get that.

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Speaker 5: Sometimes I like to make myself so gross so that

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Speaker 5: I can have everything shower.

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Speaker 4: You just like go full rogue. You're like, I Am

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Speaker 4: going to not shower for a week. What are you

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Speaker 4: talking about?

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Speaker 5: And I also did like a nope shampoo thing for

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Speaker 5: a while and it was really nice when I finally washed.

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Speaker 4: So you are really concerning me. If Jess was here,

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Speaker 4: she'd be cackling.

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Speaker 2: I would hope. So hopefully she's listening to this.

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Speaker 5: I just hope you crackling back for next week, so

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Speaker 5: you do so help please Victoria, mainly because I'm really

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Speaker 5: going broke here. So the next broke tip is obviously

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Speaker 5: from myself. This one I have done in the past,

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Speaker 5: and it obviously depends on the person and where you're

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Speaker 5: at in your life and things like that. But I was,

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Speaker 5: you know, as usual, really broke at another point in

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Speaker 5: my life. And so what I did was I signed

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Speaker 5: up to a clinical trial. There was one that was

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Speaker 5: like three you get like three fifty dollars calls gift

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Speaker 5: fouches if you just attend three times. All I did

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Speaker 5: was I went to this like UNI, and I sat

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Speaker 5: in an MRI and I literally just had straws in

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Speaker 5: my mouth and.

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Speaker 2: Had straws in your mouth. I did. I had to

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Speaker 2: drink milkshakes and look at a screen. You had to

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Speaker 2: drink milkshakes.

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Speaker 6: I don't know.

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Speaker 2: I didn't understand it. I didn't understand the science pop

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Speaker 2: I was in the milkshakes.

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Speaker 5: There was a strawberry one, a chocolate one, but then

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Speaker 5: also a carrot juice and an orange juice, and it

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Speaker 5: all sounds like do.

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Speaker 2: You know what the name of the study was. I'm

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Speaker 2: so sorry, I don't remember, but I do know. They're

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Speaker 2: just like, we're just testing our brunch options.

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Speaker 1: Yeah.

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Speaker 2: I couldn't really figure out. I think they were trying

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Speaker 2: to figure out was there something in the juice. No,

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Speaker 2: they were.

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Speaker 5: Trying to figure out like satisfaction if you are, like

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Speaker 5: how you perceive food if you're That's the other thing

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Speaker 5: I didn't. I couldn't eat at the beginning of the day,

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Speaker 5: So satisfaction based on if you ate the start of

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Speaker 5: the day and if you didn't something like that. It

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Speaker 5: was but Anyway, So this three times, I was there

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Speaker 5: for like twenty minutes each time, and sometimes.

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Speaker 4: I go, my life's really boring. I'm gonna call Beck, Like, honestly,

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Speaker 4: you've always got something that you've been doing that is

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Speaker 4: super interesting and really left field, Like I cannot go. Oh,

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Speaker 4: I'll call Beck and see if she's had like an

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Speaker 4: interesting week at work.

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Speaker 2: Sure, not like any of my other friends.

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Speaker 4: You're like, So I went to this university and I

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Speaker 4: drank carriage juice, like what?

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Speaker 2: And you got paid for the I certainly did, and

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Speaker 2: that was enough and there was nothing in the carrot juice.

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Speaker 5: Not that I'm aware of, but I just I always

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Speaker 5: remember leaving there feeling like really a bit sickly. But anyway,

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Speaker 5: because they would fill me to the brim with liquids.

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Speaker 2: Couldn't be vague because you had to drink some milkshakes. No,

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Speaker 2: that's true. And so this is the thing.

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Speaker 5: So if you just google clinical trials, it was another

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Speaker 5: one that I was very close to doing, but something

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Speaker 5: came up. I'm not sure it was, but you stay

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Speaker 5: in hospital for like three nights, you get like literally

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Speaker 5: four thousand dollars. They're just trialing a new drug or

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Speaker 5: something like that. So honestly, if you're out there and

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Speaker 5: you have if you're healthy, don't you're not immuno compromised.

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Speaker 5: You don't even have to be like in a load

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Speaker 5: of money.

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Speaker 2: It's really good, you don't.

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Speaker 5: You don't have to necessarily be like in a quote

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Speaker 5: unquote healthy weight range, because I'm like, you know, I'm

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Speaker 5: like to think of myself as a little bit chunky.

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Speaker 2: No, she's full of life. Oh, she's full of life. Faye, chunky,

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Speaker 2: thank you, chunky but funky. That's so nice, thank you

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Speaker 2: so much.

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Speaker 4: Like what is that about. We don't call ourselves chunky

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Speaker 4: in this house? Oh I see, no chunky butt funky,

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Speaker 4: chunky bit funky. But yeah, this is the thing.

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Speaker 5: So I would I would recommend googling it and you

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Speaker 5: can go through like an eligibility test and just find

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Speaker 5: out what's good. That's so cool, Paul, And yeah, just

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Speaker 5: you know whatever, it's really good. It's a really good

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Speaker 5: quick way to make some money. That's a genuinely good

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Speaker 5: broke tip.

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Speaker 2: Thank you.

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Speaker 4: So, like, if you are broke, you can get some

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Speaker 4: cash and at the end of the day, like saving

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Speaker 4: money on stuff is good, yes, but usually when you're broke,

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Speaker 4: you don't have money to save.

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Speaker 5: Exactly exactly ideal, and you're also.

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Speaker 2: Helping the resigned to the community. I don't understand it.

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Speaker 2: You're helping someone out there. I love it well.

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Speaker 4: I would usually right here segue into Miss Jess Gricy

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Speaker 4: sharing some community money wins and confessions. So, Beck, would

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Speaker 4: you like to see what I have pulled out this week?

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Speaker 2: Please? It's good? Are you ready? So ready?

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Speaker 4: I have picked a few that have stroked the Shees

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Speaker 4: on the Money ego because of Yesley. All right, So

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Speaker 4: the first is from Eliza Jane. She said, a money

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Speaker 4: loss for us and the confirmation of why we are

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Speaker 4: changing over.

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Speaker 2: To the Shees on the Money way.

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Speaker 4: We are away for the long weekend and I thought

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Speaker 4: we had a lot more money saved for it than

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Speaker 4: we actually did. So in the hotel reception, I had

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Speaker 4: to scrimp and work out what money was where to

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Speaker 4: pay for the hotel. Having things in accounts both of

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Speaker 4: us can't see, left us almost canceling our accommodation and

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Speaker 4: just heading home. My husband was not one hundred percent

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Speaker 4: on board with She's on the Money to begin with.

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Speaker 4: Now he sees how transparent and beneficial it's going to

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Speaker 4: be for our future. Money for me has always had

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Speaker 4: a bad feeling. I have generational money trauma from my

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Speaker 4: parents who lived way beyond their means and should have

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Speaker 4: been able to retire now, but continue to live outside

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Speaker 4: what they earn. I'm trying so hard to change this

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Speaker 4: narrative for my kids.

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Speaker 2: Isn't that cute?

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Speaker 4: I mean, I'm really sorry that you went through that,

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Speaker 4: because that just would have felt like trash, like, you know,

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Speaker 4: going away for the weekend and then realizing you didn't

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Speaker 4: have the cash and just being.

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Speaker 2: Like why are we doing this?

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Speaker 4: Like, but I hope you still enjoyed your weekend totally.

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Speaker 4: I'm so glad your husband's now on board. Like, it's

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Speaker 4: so hard sometimes to convince someone of a passion that

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Speaker 4: you have. Yeah, it's like, you know, Beck, I've been

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Speaker 4: talking to you about something for so long and you

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Speaker 4: finally get on board, and then we're trying to get

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Speaker 4: our other friend who has never heard of it, Like

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Speaker 4: that's going to be challenging to convince them.

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Speaker 2: Yeah, so satisfying.

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Speaker 4: It's so satisfying when you finally get them across the line,

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Speaker 4: because you know it's for the greater good. Lily says,

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Speaker 4: I'm a horrible, horrible spender and it runs in the family.

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Speaker 4: I made the ambitious goal of saving ten thousand dollars

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Speaker 4: this year. I had a few bumps in the road

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Speaker 4: with birthdays and overspending, but I am now only one

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Speaker 4: thousand dollars behind my ideal on track goal.

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Speaker 2: I'm so proud of that.

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Speaker 5: That's so good, And it's like literally May.

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Speaker 2: It's May, But like, isn't it cool that she's tracking it?

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Speaker 4: Yeah, and just going I'm only one thousand dollars behind

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Speaker 4: the goal that I've set, so she knows where she's at,

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Speaker 4: where we need to be. Really, you've got so much

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Speaker 4: time to make it up. You're still going to get there.

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Speaker 4: Isn't it cool?

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Speaker 2: That's really cool? Tracking God on your money win? All right?

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Speaker 4: Next one we've got is from Shantell. She said it's

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Speaker 4: a relatively small money win. But I found organic eggs

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Speaker 4: for half price at five bucks reduced in that little

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Speaker 4: sale section at Woollies they sometimes have, considering it's usually

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Speaker 4: about twelve bucks a dozen. I may have gotten a

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Speaker 4: couple of dozen, and I partly stocked my freezer with

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Speaker 4: some veggie slice for another time. Nice, isn't that good. Yeah,

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Speaker 4: very genius, genius, Melissa, here you go. I've got a

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Speaker 4: few of these. I'm so excited. I just got a

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Speaker 4: little bit carried away. This week, Melissa bit the bullet

352
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Speaker 4: and I paid off a fifteen hundred dollar credit card.

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Speaker 4: Whilst my savings did take a hit, it feels nice

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Speaker 4: to have one thing completely gone.

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Speaker 5: That's so good. Good for you, babe, you.

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Speaker 4: Know us as a queen sus because do you know

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Speaker 4: what her comment was? Four words? This was the entire

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Speaker 4: comment after pay gone forever. Oh yes, lay queen, that's

359
00:15:28,720 --> 00:15:30,680
Speaker 4: so good, and that I have two more for you.

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Speaker 2: Just I couldn't stop.

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Speaker 4: I'm really sorry, so Annabelle said. My partner and I

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Speaker 4: have started shopping at the markets like your broke tip,

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Speaker 4: and if we can't find what we want, we go

364
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Speaker 4: to Audi. We keep all the receipts and then go

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Speaker 4: onto the coals app and put in what we bought

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Speaker 4: closest possible, obviously, and whatever the difference is, we put

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Speaker 4: that money in a separate savings account.

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Speaker 2: Nice.

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Speaker 4: Well, it didn't take long for us to save a

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Speaker 4: decent amount, and we were able to celebrate my partner's

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Speaker 4: graduation with a really nice dinner from all those savings.

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Speaker 2: So good. Yeah, I really like that. I like how

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Speaker 2: it kind of makes sense as well.

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Speaker 4: It's like you're actually going in and transferring the difference

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Speaker 4: between what you would have paid and what you did

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Speaker 4: pay so that the savings add up. But you can

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00:16:16,120 --> 00:16:18,200
Speaker 4: see it like it feels good as well, and we

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00:16:18,240 --> 00:16:20,440
Speaker 4: all love a feel good money. Oh yeah, like not

379
00:16:20,560 --> 00:16:22,840
Speaker 4: just like, oh yeah, saved some money. I think, like, no,

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Speaker 4: she's added it up and then she could have a

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Speaker 4: bougie dinner.

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Speaker 2: Yeah, slay. I love this.

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Speaker 4: And then the last one I've got is from Tara

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Speaker 4: and Tara says, I used a bulk payment from a

385
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Speaker 4: client for my side hustle to pay out all my

386
00:16:35,600 --> 00:16:39,000
Speaker 4: remaining debts, get six months ahead on my phone bill,

387
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Speaker 4: and contribute significantly to my emergency fund.

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Speaker 2: That's so good. Must have been a nice amount of money, Tara.

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Speaker 2: She said, I also.

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Speaker 4: Googled product for this client at four am and achieved

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Speaker 4: a significant discount, so my overhead's dropped and I had a.

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Speaker 2: Little more profit.

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Speaker 4: So I pre bought three weeks worth of meat to

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Speaker 4: freeze so my kids and I don't run out down

395
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Speaker 4: the train. These are huge money wins. For me after

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Speaker 4: a few months of transitional wages, moving expenses and living

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Speaker 4: really lean.

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Speaker 2: Isn't that cool?

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Speaker 5: Yeah?

400
00:17:09,800 --> 00:17:10,359
Speaker 2: Really cool.

401
00:17:10,440 --> 00:17:12,800
Speaker 4: She finally had a big win. Like it was like

402
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Speaker 4: that light at the end of the tunnel. She was like, Oh,

403
00:17:15,040 --> 00:17:17,239
Speaker 4: finally I can get rid of my debt, I can

404
00:17:17,280 --> 00:17:19,320
Speaker 4: pay off my phone bill. And she got ahead stocked

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Speaker 4: up the phraser so that she's comfy in the future.

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Speaker 2: Is that not the best? I just love people. I

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00:17:24,560 --> 00:17:25,080
Speaker 2: love people.

408
00:17:25,480 --> 00:17:28,040
Speaker 4: I love it anyway. That's all I've got from the community.

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Speaker 4: I reckon, we go to a really quick break and

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Speaker 4: on the flip side, beck we're going to be talking

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Speaker 4: all about aprs versus interest rates, and we're going to

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Speaker 4: unpack something you slid into our DMS about which this

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00:17:38,359 --> 00:17:40,480
Speaker 4: week is about having to pay when you pull out

414
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Speaker 4: of a wedding due to pregnancy complications. So guys, don't

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Speaker 4: go anywhere.

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Speaker 5: Welcome back, guys. Here's our money dilemma.

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Speaker 4: Hi, there, have you got a money dilemma you just

418
00:17:55,160 --> 00:17:57,680
Speaker 4: can't solve that. She's on the Money Team is here

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00:17:57,720 --> 00:18:01,119
Speaker 4: to help. Every week we tackle your both big and

420
00:18:01,160 --> 00:18:04,639
Speaker 4: small to answer your most burning money, career and life questions.

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00:18:04,840 --> 00:18:07,320
Speaker 4: To get involved simply head to our website and leave

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00:18:07,400 --> 00:18:09,520
Speaker 4: us a short voice recording, and you might just find

423
00:18:09,520 --> 00:18:12,159
Speaker 4: yourself on the show. Now, let's take a listen to

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Speaker 4: this week's money dilemma.

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Speaker 6: Hey, girls, my money dilemma is about aprs versus interest rates.

426
00:18:21,440 --> 00:18:23,680
Speaker 6: I have a loan at the moment, and I've had

427
00:18:23,720 --> 00:18:26,320
Speaker 6: it for a couple of years. I've now started to

428
00:18:27,200 --> 00:18:30,360
Speaker 6: learn a little bit more education around finances, and I've

429
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Speaker 6: decided that I think it's best to consolidate it into

430
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Speaker 6: a new loan provider with a lower interest rate, so

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Speaker 6: I'm not paying as much long term. I'm just a

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Speaker 6: little bit stuck on the difference between an APR and

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Speaker 6: an interest rate. My current provider has a forty seven

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Speaker 6: percent APR, which seems quite high from the research I'm doing,

435
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Speaker 6: but I'm not too sure.

436
00:18:55,440 --> 00:18:59,920
Speaker 5: Oh yeah, oh yeah, Okay, buckle up, you guys APR.

437
00:19:00,440 --> 00:19:01,800
Speaker 2: I am buckled up, Becky.

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Speaker 5: Are you answering this hun interest rate and APR?

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00:19:07,920 --> 00:19:08,240
Speaker 2: Nice?

440
00:19:08,359 --> 00:19:14,720
Speaker 5: The difference is substantially substantial, and so I think, now, Victoria,

441
00:19:14,720 --> 00:19:15,760
Speaker 5: I kind of want to test you here.

442
00:19:15,960 --> 00:19:19,280
Speaker 4: Is this like when you're like writing your English literature

443
00:19:19,359 --> 00:19:22,840
Speaker 4: examining Grade twelve and you're just trying to meet word count.

444
00:19:22,960 --> 00:19:24,879
Speaker 2: Yes, that's the vibe I'm picking up from you.

445
00:19:25,000 --> 00:19:26,400
Speaker 5: Yeah, it's a little bit like that at the moment.

446
00:19:26,400 --> 00:19:28,919
Speaker 5: But because I've taught you so much, v I feel

447
00:19:28,920 --> 00:19:31,000
Speaker 5: like I want to hear you answer this one, just

448
00:19:31,000 --> 00:19:32,280
Speaker 5: to see if you've been paying attention.

449
00:19:32,320 --> 00:19:34,240
Speaker 2: If I've been paying attention to I love that. Thank

450
00:19:34,280 --> 00:19:35,800
Speaker 2: you so much for this opportunity.

451
00:19:35,880 --> 00:19:37,920
Speaker 4: I have been away for a while, but I also

452
00:19:37,960 --> 00:19:40,160
Speaker 4: am a little bit of a finance girly, So let's

453
00:19:40,200 --> 00:19:43,400
Speaker 4: just backtrack a little bit. And APR is the total

454
00:19:43,600 --> 00:19:47,159
Speaker 4: annual percentage race, and this is the rate that can

455
00:19:47,200 --> 00:19:49,800
Speaker 4: be used to calculate the cost of a loan, taking

456
00:19:49,840 --> 00:19:52,639
Speaker 4: into account the reducing balance. So obviously you're paying it

457
00:19:52,680 --> 00:19:56,320
Speaker 4: off during the year of the loan amount expressed as

458
00:19:56,320 --> 00:19:58,240
Speaker 4: an annual rate, so how much are you going to

459
00:19:58,280 --> 00:20:01,040
Speaker 4: pay in a year? So for these purposes, the cost

460
00:20:01,080 --> 00:20:04,640
Speaker 4: of the loan is exclusive of fees, So we don't

461
00:20:04,640 --> 00:20:06,240
Speaker 4: want to talk about the fees and stuff like that

462
00:20:06,280 --> 00:20:08,560
Speaker 4: as well, because otherwise we're getting a little bit too complicated.

463
00:20:09,080 --> 00:20:12,760
Speaker 4: APR it's a term that's often used by mortgage providers,

464
00:20:12,840 --> 00:20:16,760
Speaker 4: so like banks or credit unions or even credit card providers,

465
00:20:16,840 --> 00:20:19,399
Speaker 4: and they calculate it by applying the rate to your loans,

466
00:20:19,440 --> 00:20:22,760
Speaker 4: reducing balance over time, and then standardizing on an annual

467
00:20:22,800 --> 00:20:26,040
Speaker 4: basis regardless of the actual term, so regardless of how

468
00:20:26,080 --> 00:20:29,080
Speaker 4: long the mortgage is for. Right. So APR can be

469
00:20:29,160 --> 00:20:32,800
Speaker 4: used for like comparison purposes, but it can't actually be

470
00:20:32,960 --> 00:20:35,560
Speaker 4: used to calculate the amount of interest you will pay

471
00:20:35,920 --> 00:20:40,160
Speaker 4: each year because that's actually impossible. Simple interest, or your

472
00:20:40,280 --> 00:20:43,560
Speaker 4: interest rate, on the other hand, is the interest that

473
00:20:43,600 --> 00:20:45,919
Speaker 4: you pay your lender on top of the actual amount

474
00:20:45,960 --> 00:20:48,639
Speaker 4: that you borrow. So like that may it's very simple.

475
00:20:48,680 --> 00:20:50,919
Speaker 4: That's why it's called simple interest, and the simple interest

476
00:20:50,960 --> 00:20:54,600
Speaker 4: rate is a fixed percentage of that lump sum amount. Right,

477
00:20:55,040 --> 00:20:56,960
Speaker 4: So what do you need to know about this? You're

478
00:20:57,000 --> 00:21:00,679
Speaker 4: gonna always find beck that the APR appears high for

479
00:21:00,800 --> 00:21:04,320
Speaker 4: short term loans, but for long term loans it's lower.

480
00:21:04,560 --> 00:21:07,320
Speaker 4: So it can actually be quite confusing if you're taking

481
00:21:07,320 --> 00:21:09,680
Speaker 4: out a loan across several decades. So what you would

482
00:21:09,760 --> 00:21:12,520
Speaker 4: usually do when taking out a mortgage, which our community

483
00:21:12,560 --> 00:21:15,720
Speaker 4: member has done or is looking at. Right, So, for example,

484
00:21:15,800 --> 00:21:19,600
Speaker 4: if your APR on a five hundred thousand dollars home loan,

485
00:21:19,760 --> 00:21:22,760
Speaker 4: is five percent. You'll also need to consider the total

486
00:21:22,840 --> 00:21:26,959
Speaker 4: interest percentage, so the tip, which is one hundred percent,

487
00:21:27,160 --> 00:21:29,119
Speaker 4: So like you're going to pay one hundred percent of

488
00:21:29,119 --> 00:21:30,720
Speaker 4: the interest, you're not going to get off the hook

489
00:21:30,760 --> 00:21:33,000
Speaker 4: for any of it. That means that you'll end up

490
00:21:33,000 --> 00:21:37,600
Speaker 4: paying one million dollars total over a thirty year mortgage.

491
00:21:37,600 --> 00:21:40,200
Speaker 4: So for a five hundred thousand dollar loan with your

492
00:21:40,280 --> 00:21:43,359
Speaker 4: interest rate at five percent, you'll end up paying for

493
00:21:43,520 --> 00:21:46,320
Speaker 4: thirty years a total back to the bank of a

494
00:21:46,359 --> 00:21:49,840
Speaker 4: million dollars. Does that make sense? So we're calculating how

495
00:21:49,920 --> 00:21:52,640
Speaker 4: much the house was, so five hundred grand. You might go, oh,

496
00:21:52,640 --> 00:21:54,639
Speaker 4: my purchase price was five hundred thousand dollars for this

497
00:21:54,680 --> 00:21:57,080
Speaker 4: apartment or this house, But then we actually need to

498
00:21:57,080 --> 00:21:59,040
Speaker 4: look at, well, how much interest are you paying back,

499
00:21:59,080 --> 00:22:00,920
Speaker 4: because like the sales stick her on the front of

500
00:22:00,960 --> 00:22:03,520
Speaker 4: the property. Sure, that's not what you're actually paying. You're

501
00:22:03,560 --> 00:22:07,520
Speaker 4: actually paying interest, and that comes out at a million dollars.

502
00:22:07,920 --> 00:22:10,119
Speaker 4: And this is what she's talking about. And this is

503
00:22:10,119 --> 00:22:13,120
Speaker 4: why I think, in a very long way, I want

504
00:22:13,200 --> 00:22:16,040
Speaker 4: to draw attention to this because so many times we

505
00:22:16,160 --> 00:22:18,200
Speaker 4: just go, oh, my house was five hundred grand, yay,

506
00:22:18,320 --> 00:22:20,040
Speaker 4: and you go great, and your interest rate, Oh, I

507
00:22:20,080 --> 00:22:22,240
Speaker 4: got a really good interest rates, you know, five percent.

508
00:22:22,280 --> 00:22:23,360
Speaker 2: At the moment, you.

509
00:22:23,320 --> 00:22:26,879
Speaker 4: Go, well, what does that actually mean? Like, what's the

510
00:22:26,960 --> 00:22:28,880
Speaker 4: interest rate going to mean that I pay back over

511
00:22:28,920 --> 00:22:31,120
Speaker 4: the life of the loan? And most people will get

512
00:22:31,119 --> 00:22:33,760
Speaker 4: a thirty year mortgage, right, So if I've got a

513
00:22:33,760 --> 00:22:35,720
Speaker 4: thirty year mortgage, how much interest am I going to

514
00:22:35,720 --> 00:22:37,960
Speaker 4: pay over that period of time? Beck, The answer is

515
00:22:37,960 --> 00:22:38,879
Speaker 4: half a million dollars.

516
00:22:39,119 --> 00:22:41,080
Speaker 2: That is outrageous.

517
00:22:41,200 --> 00:22:43,520
Speaker 4: Well, it's good to know as well, and it's good

518
00:22:43,560 --> 00:22:45,720
Speaker 4: to know that our community member is not just looking

519
00:22:45,760 --> 00:22:48,679
Speaker 4: at an interest rate going how does this? You know, worker,

520
00:22:48,760 --> 00:22:50,879
Speaker 4: do I feel comfy with it? She's actually doing the

521
00:22:50,880 --> 00:22:52,920
Speaker 4: math and going, okay, well, over the long term, this

522
00:22:53,000 --> 00:22:57,119
Speaker 4: means this. So by contrast, simple interest is like a

523
00:22:57,160 --> 00:22:59,439
Speaker 4: fixed rate, so it would be like that five percent.

524
00:22:59,520 --> 00:23:01,560
Speaker 4: So you go and get a five hundred thousand dollar

525
00:23:01,680 --> 00:23:05,000
Speaker 4: loan and it's five percent, and it's really easy to

526
00:23:05,040 --> 00:23:06,879
Speaker 4: work that out. So let's say you take out like

527
00:23:06,920 --> 00:23:09,680
Speaker 4: a ten thousand dollar personal loan with a six month

528
00:23:09,760 --> 00:23:12,320
Speaker 4: term and an interest rate of eleven percent.

529
00:23:12,440 --> 00:23:12,640
Speaker 6: Right.

530
00:23:12,960 --> 00:23:16,040
Speaker 4: The formula would then be you do ten thousand dollars

531
00:23:16,119 --> 00:23:19,360
Speaker 4: times eleven percent, so point one to one, and then

532
00:23:19,400 --> 00:23:22,720
Speaker 4: you do times point oh five, Sorry, then you do

533
00:23:22,880 --> 00:23:26,200
Speaker 4: times point five because it's for half a year. That

534
00:23:26,280 --> 00:23:28,960
Speaker 4: equals five hundred and fifty dollars. So that is the

535
00:23:29,040 --> 00:23:31,240
Speaker 4: simple interest that you would pay over the length of

536
00:23:31,240 --> 00:23:33,280
Speaker 4: that loan. So to take out a ten thousand dollars

537
00:23:33,320 --> 00:23:36,680
Speaker 4: personal loan at eleven percent for six months you're paying that,

538
00:23:37,359 --> 00:23:39,920
Speaker 4: you're paying five hundred and fifty dollars for that privilege.

539
00:23:40,680 --> 00:23:43,439
Speaker 4: Sure does that make sense? So like there's simple interest

540
00:23:43,480 --> 00:23:46,359
Speaker 4: for short periods of time, then there's the tip and

541
00:23:46,400 --> 00:23:48,160
Speaker 4: that's for a longer period of time.

542
00:23:48,560 --> 00:23:51,239
Speaker 2: So do all mortgage brokers and lenders look at this?

543
00:23:51,640 --> 00:23:54,560
Speaker 2: Not necessarily, She's doing a lot more research than many

544
00:23:54,600 --> 00:23:57,840
Speaker 2: of us will do. It's important to understand forty seven

545
00:23:57,880 --> 00:24:02,119
Speaker 2: percent does feel quite high, but again the market is

546
00:24:02,240 --> 00:24:04,639
Speaker 2: a little bit off, and what I would be doing

547
00:24:04,840 --> 00:24:06,959
Speaker 2: is going and talking to a mortgage broker.

548
00:24:07,240 --> 00:24:09,320
Speaker 4: So it sounds like you're doing a lot of this yourself.

549
00:24:09,359 --> 00:24:11,480
Speaker 4: Your mortgage broker is going to be your best friend,

550
00:24:11,720 --> 00:24:13,760
Speaker 4: and I mean not so subtle plugged to the girls

551
00:24:13,760 --> 00:24:16,639
Speaker 4: that Zella money like, I obviously am obsessed with that

552
00:24:16,680 --> 00:24:19,119
Speaker 4: business because it is my own and we talk to

553
00:24:19,160 --> 00:24:22,000
Speaker 4: people every single day about this stuff. So go and

554
00:24:22,080 --> 00:24:24,320
Speaker 4: talk to somebody who does this and it is their

555
00:24:24,359 --> 00:24:26,240
Speaker 4: bread and butter, and they do it and could do

556
00:24:26,320 --> 00:24:28,199
Speaker 4: it in their sleep. To make sure that you're not

557
00:24:28,240 --> 00:24:32,680
Speaker 4: getting overwhelmed by terms that aren't as important, I would

558
00:24:32,720 --> 00:24:36,840
Speaker 4: say as the outcome. The outcome is, Becky, you're comfortable

559
00:24:36,880 --> 00:24:38,760
Speaker 4: with the interest rate and how much you're going to

560
00:24:38,760 --> 00:24:40,960
Speaker 4: be paying for the property over the long term doesn't

561
00:24:41,040 --> 00:24:43,760
Speaker 4: make financial sense to you and you might say yeah,

562
00:24:44,119 --> 00:24:46,600
Speaker 4: or you might say absolutely not. And that's where a

563
00:24:46,680 --> 00:24:49,280
Speaker 4: mortgage broker is going to help you to really simplify things.

564
00:24:49,760 --> 00:24:52,480
Speaker 4: Do that makes sense because I feel like maybe our

565
00:24:52,480 --> 00:24:55,240
Speaker 4: community member is getting into a really deep rabbit hole

566
00:24:55,280 --> 00:24:57,640
Speaker 4: of like, Okay, well this means this, and that means

567
00:24:57,680 --> 00:25:00,399
Speaker 4: that now I'm overwhelmed and I have analysis pro system.

568
00:25:00,440 --> 00:25:02,679
Speaker 4: You don't deserve that during your home buying journey. We

569
00:25:02,720 --> 00:25:04,520
Speaker 4: want it to be stressed free totally.

570
00:25:04,960 --> 00:25:07,960
Speaker 5: The only thing I'm kind of confused about isn't APR

571
00:25:08,359 --> 00:25:13,040
Speaker 5: different to TIP yes? And can you choose between the two.

572
00:25:13,119 --> 00:25:14,400
Speaker 2: You can't choose between the two.

573
00:25:14,800 --> 00:25:18,280
Speaker 4: Just like methodologies of calculating things like oh it's not

574
00:25:18,640 --> 00:25:20,720
Speaker 4: you know, you get a choice of paying one or

575
00:25:20,720 --> 00:25:22,520
Speaker 4: the other. Sure, like the bank is going to give

576
00:25:22,560 --> 00:25:25,719
Speaker 4: you an interest rate. An APR is just an annual

577
00:25:25,760 --> 00:25:29,119
Speaker 4: percentage rate, and so she would have calculated that herself

578
00:25:29,200 --> 00:25:31,840
Speaker 4: more often than not. It's not something that we usually

579
00:25:31,840 --> 00:25:35,320
Speaker 4: provide clients with unless they ask for it. And it's

580
00:25:35,359 --> 00:25:38,119
Speaker 4: because of analysis paralysis. It's too much information, it's too

581
00:25:38,200 --> 00:25:41,199
Speaker 4: much information overload, and it doesn't usually serve us. You know,

582
00:25:41,280 --> 00:25:44,080
Speaker 4: that's where my brain would be at. It's not necessarily

583
00:25:44,119 --> 00:25:46,399
Speaker 4: like one is better than the other. It's just, you know,

584
00:25:46,480 --> 00:25:48,639
Speaker 4: I could look at your investment portfolio and what you

585
00:25:48,720 --> 00:25:52,040
Speaker 4: already own and calculate lots of different things from it.

586
00:25:52,080 --> 00:25:54,399
Speaker 2: Does it mean good or bad things? Not necessarily.

587
00:25:54,520 --> 00:25:56,600
Speaker 4: You also have to kind of like zoom out and

588
00:25:56,600 --> 00:25:58,359
Speaker 4: look at the market and be like, okay, well the

589
00:25:58,400 --> 00:26:01,000
Speaker 4: interest rates right now are higher, Like you're not going

590
00:26:01,040 --> 00:26:03,959
Speaker 4: to get away with it for cheaper unfortunately, Like there

591
00:26:03,960 --> 00:26:06,399
Speaker 4: are no mortgage facilities out there offering a two percent

592
00:26:06,480 --> 00:26:07,400
Speaker 4: interest rate anymore.

593
00:26:07,440 --> 00:26:09,280
Speaker 2: I wish they were. I already would have gone to

594
00:26:09,359 --> 00:26:09,960
Speaker 2: them myself.

595
00:26:10,000 --> 00:26:12,560
Speaker 4: Personally, I think it's important to remember as well when

596
00:26:12,560 --> 00:26:15,080
Speaker 4: we're looking at mortgages and when we're looking at, you know,

597
00:26:15,200 --> 00:26:19,240
Speaker 4: making big purchases. Sometimes relying on the professionals is going

598
00:26:19,240 --> 00:26:21,560
Speaker 4: to make you a lot more comfortable with that journey.

599
00:26:21,840 --> 00:26:23,480
Speaker 4: Like I know, Beck, if I sent you down the

600
00:26:23,520 --> 00:26:26,480
Speaker 4: rabbit hole of buying your first home, you would get

601
00:26:26,480 --> 00:26:28,720
Speaker 4: analysis paralysis because I know you well enough to go.

602
00:26:29,000 --> 00:26:30,919
Speaker 4: Beck would be trying to look at everything and make

603
00:26:30,960 --> 00:26:33,480
Speaker 4: sure it's okay. Whereas if I had stepped in and said,

604
00:26:33,480 --> 00:26:35,760
Speaker 4: all right, well let me help you through this and go, yeah,

605
00:26:35,760 --> 00:26:37,919
Speaker 4: that's fine, Beck, don't worry about this, do worry about that.

606
00:26:37,960 --> 00:26:39,720
Speaker 4: Look at this, you know, when you go in, here's

607
00:26:39,720 --> 00:26:42,000
Speaker 4: a list of all your first inspection things. You're just

608
00:26:42,040 --> 00:26:43,240
Speaker 4: going to be way more empowered.

609
00:26:43,359 --> 00:26:44,240
Speaker 2: Yeah, Like, go and.

610
00:26:44,200 --> 00:26:46,440
Speaker 4: Get a professional on your team. Because you don't pay

611
00:26:46,440 --> 00:26:50,159
Speaker 4: your mortgage broker. We get paid by the banks. The

612
00:26:50,200 --> 00:26:51,800
Speaker 4: banks are going to pay us when I get you

613
00:26:51,800 --> 00:26:53,639
Speaker 4: your loan, and it's in my best interest to make

614
00:26:53,640 --> 00:26:56,880
Speaker 4: sure you're in the best possible position. Yeah, So definitely

615
00:26:56,960 --> 00:26:58,919
Speaker 4: use a service like a mortgage broker, whether it is

616
00:26:59,040 --> 00:27:01,359
Speaker 4: us or is somebody else. I think it is just

617
00:27:01,400 --> 00:27:03,480
Speaker 4: really important to have a professional on your team when

618
00:27:03,480 --> 00:27:06,359
Speaker 4: you're making arguably the biggest financial decision of your life.

619
00:27:06,520 --> 00:27:09,399
Speaker 5: M absolutely, and then because you're spaking to a mortgage

620
00:27:09,440 --> 00:27:12,720
Speaker 5: broke up, there's anything in what Victoria just said. If

621
00:27:12,720 --> 00:27:15,360
Speaker 5: you say you're speaking to them in person, you can

622
00:27:15,640 --> 00:27:16,560
Speaker 5: ask as you go.

623
00:27:16,880 --> 00:27:18,760
Speaker 4: Yeah, just call them and be like, hey, VD, so

624
00:27:18,760 --> 00:27:20,520
Speaker 4: I don't need to talk to you, and hopefully they

625
00:27:20,560 --> 00:27:21,399
Speaker 4: know what you're talking about.

626
00:27:22,040 --> 00:27:26,200
Speaker 2: They won't, but that's okay, that is solid advice.

627
00:27:27,160 --> 00:27:28,960
Speaker 4: Let's move on because I've got one that I think

628
00:27:29,000 --> 00:27:31,320
Speaker 4: it's going to be pretty simple from you and I beck, Yeah,

629
00:27:31,359 --> 00:27:33,400
Speaker 4: are you ready? Well, you received a DM this week

630
00:27:33,440 --> 00:27:39,160
Speaker 4: and it was frustrating for me. Anyway, let's hear it, Hi,

631
00:27:39,320 --> 00:27:42,400
Speaker 4: she's on the money. My friend needs advice. A while back,

632
00:27:42,440 --> 00:27:45,280
Speaker 4: she was invited to an interstate wedding. She knew she'd

633
00:27:45,320 --> 00:27:47,639
Speaker 4: be thirty five weeks pregnant on the date of the wedding,

634
00:27:47,760 --> 00:27:50,080
Speaker 4: but as it was a close friend, she got the

635
00:27:50,119 --> 00:27:54,320
Speaker 4: green light from her OBI and rsvped yes excitedly. She

636
00:27:54,400 --> 00:27:57,800
Speaker 4: booked her accommodation and had every single intention of going.

637
00:27:57,920 --> 00:28:01,240
Speaker 4: But fast forward to the current time, it's looking like

638
00:28:01,280 --> 00:28:03,320
Speaker 4: her due date's going to be pushed up, so her

639
00:28:03,359 --> 00:28:06,680
Speaker 4: OBEI doesn't really want her traveling she's had to tell

640
00:28:06,720 --> 00:28:09,240
Speaker 4: the bride she can't make it anymore. It's about a

641
00:28:09,280 --> 00:28:11,640
Speaker 4: month out from the wedding, so it's not super last minute,

642
00:28:11,680 --> 00:28:14,280
Speaker 4: and it's as early as she could tell her. The

643
00:28:14,359 --> 00:28:18,800
Speaker 4: bride's reply has us shook. She's requesting her friend reimburse

644
00:28:18,840 --> 00:28:20,960
Speaker 4: her for three hundred and seventy five dollars, as she

645
00:28:21,000 --> 00:28:23,480
Speaker 4: said she can't afford it, and she's already paid for

646
00:28:23,520 --> 00:28:26,040
Speaker 4: her and it's too late for her to invite somebody else.

647
00:28:26,520 --> 00:28:29,199
Speaker 4: She said, my friend didn't take her wedding seriously and

648
00:28:29,240 --> 00:28:32,520
Speaker 4: should if RSVPID know from the beginning, is it really

649
00:28:32,600 --> 00:28:35,800
Speaker 4: okay to ask guests to pay the cost if circumstances

650
00:28:35,880 --> 00:28:39,280
Speaker 4: change and they can't attend anymore, should my friend pay?

651
00:28:39,720 --> 00:28:40,880
Speaker 2: What's the etiquette here?

652
00:28:41,320 --> 00:28:45,600
Speaker 4: We need other opinions, as we think it's a bit ridiculous.

653
00:28:46,080 --> 00:28:48,640
Speaker 2: This is really mean? Actually is it mean?

654
00:28:48,920 --> 00:28:52,280
Speaker 5: It's like, I mean, I totally get it if she

655
00:28:53,120 --> 00:28:56,200
Speaker 5: kind of like didn't even check. She was just being like, oh,

656
00:28:56,440 --> 00:28:58,479
Speaker 5: I can definitely do that. Yeah, I'll be super pregnant,

657
00:28:58,480 --> 00:28:59,800
Speaker 5: but I'm just gonna wing it. I'm just gonna like

658
00:29:00,640 --> 00:29:03,080
Speaker 5: but she like checked with her obi everything was all good.

659
00:29:03,120 --> 00:29:06,520
Speaker 5: She had absolutely no control over this whatsoever. I think

660
00:29:06,520 --> 00:29:08,800
Speaker 5: it's so mean to be like, well, you gotta pay. Also,

661
00:29:08,840 --> 00:29:11,200
Speaker 5: it's a month out still, like there's plenty of time

662
00:29:11,240 --> 00:29:14,160
Speaker 5: to be like, literally anyone here, Hey, can you bring

663
00:29:14,200 --> 00:29:16,800
Speaker 5: a friend? Like literally anyone? You get anyone in a

664
00:29:16,800 --> 00:29:17,880
Speaker 5: month's time? You know what I mean?

665
00:29:18,120 --> 00:29:18,479
Speaker 1: Yeah?

666
00:29:18,680 --> 00:29:19,600
Speaker 2: No, I agree.

667
00:29:19,800 --> 00:29:22,480
Speaker 4: The other thing I would say is, can we just

668
00:29:22,520 --> 00:29:24,440
Speaker 4: step back back? If you go to a wedding, how

669
00:29:24,520 --> 00:29:26,960
Speaker 4: much you're spending on the present? Is it three hundred

670
00:29:26,960 --> 00:29:29,440
Speaker 4: and seventy five dollars not?

671
00:29:29,760 --> 00:29:33,120
Speaker 2: Hopefully not? I would hope not. That's a lot of money.

672
00:29:33,240 --> 00:29:36,600
Speaker 4: Yeah, in my head, Like, there's so much wedding etiquette right, like,

673
00:29:36,640 --> 00:29:38,840
Speaker 4: and I think it depends on your friendship group and

674
00:29:38,880 --> 00:29:42,520
Speaker 4: your circumstances and like what you can afford, because to

675
00:29:42,520 --> 00:29:44,920
Speaker 4: be honest, you don't owe anybody a gift. If you've

676
00:29:44,920 --> 00:29:47,880
Speaker 4: been invited to their wedding, you go to celebrate their

677
00:29:47,920 --> 00:29:49,400
Speaker 4: love and that's it.

678
00:29:49,480 --> 00:29:52,160
Speaker 2: Like, I don't think that people should be expecting gifts.

679
00:29:52,280 --> 00:29:52,680
Speaker 2: I don't know.

680
00:29:52,840 --> 00:29:55,480
Speaker 4: I specifically called out at my wedding, and this is

681
00:29:55,560 --> 00:29:57,920
Speaker 4: just because I felt like we were already in a

682
00:29:57,920 --> 00:30:00,640
Speaker 4: privileged position. I was like, I don't want gifts. Thanks,

683
00:30:00,840 --> 00:30:03,920
Speaker 4: but I just think that that's not fair. I already

684
00:30:03,960 --> 00:30:05,600
Speaker 4: lived with my husband. I don't need you to set

685
00:30:05,680 --> 00:30:07,480
Speaker 4: up my house. Like all of this is, you know,

686
00:30:07,880 --> 00:30:10,880
Speaker 4: all good. Thanks though, Yeah, and everyone's different, but like

687
00:30:11,000 --> 00:30:13,360
Speaker 4: three hundred and seventy five dollars is not what she

688
00:30:13,400 --> 00:30:17,800
Speaker 4: would have paid anyway, like for the wedding to attend.

689
00:30:18,080 --> 00:30:20,680
Speaker 4: Like I'm assuming because sometimes you go all right, well,

690
00:30:20,680 --> 00:30:22,680
Speaker 4: like it's one hundred dollars ahead or whatever for food

691
00:30:22,720 --> 00:30:24,800
Speaker 4: and beverages, Like I'm just gonna pop that in a

692
00:30:24,840 --> 00:30:27,400
Speaker 4: you know, wishing World card. Or maybe she was real

693
00:30:27,480 --> 00:30:29,440
Speaker 4: savvy and was a bit of a she's on the money.

694
00:30:29,480 --> 00:30:32,080
Speaker 4: I went down to like DFO and bought really beautiful

695
00:30:32,080 --> 00:30:34,520
Speaker 4: photo frame or like did some art for her herself,

696
00:30:34,560 --> 00:30:37,160
Speaker 4: and like sure that was the gift. Yeah, Like I

697
00:30:37,160 --> 00:30:39,360
Speaker 4: don't know, there's just a lot going on here for

698
00:30:39,400 --> 00:30:44,480
Speaker 4: me because obviously at thirty five weeks when I was pregnant,

699
00:30:44,800 --> 00:30:46,320
Speaker 4: I could do a lot of things. I did have

700
00:30:46,360 --> 00:30:48,720
Speaker 4: a lot of complications, which meant that every day I

701
00:30:48,760 --> 00:30:50,760
Speaker 4: had to check my blood pressure and that would then

702
00:30:50,840 --> 00:30:52,920
Speaker 4: dictate what I could do that day. So if my

703
00:30:52,920 --> 00:30:56,560
Speaker 4: blood pressure was good, great, you can go to Taylor Swift, Victoria,

704
00:30:56,640 --> 00:30:59,240
Speaker 4: I went to Taylor Swift and partied my butt off

705
00:30:59,240 --> 00:31:01,840
Speaker 4: at thirty eight tweeks pregnant. Like, you can do it,

706
00:31:01,920 --> 00:31:04,719
Speaker 4: I promise, but you've got to, you know, know yourself

707
00:31:04,800 --> 00:31:08,520
Speaker 4: if your obstetrician has said absolutely not sorry, but you

708
00:31:08,600 --> 00:31:11,320
Speaker 4: just can't do it. Yeah, Like you're putting your baby

709
00:31:11,320 --> 00:31:14,920
Speaker 4: at risk, exactly. So that's complicated to begin with. But

710
00:31:14,960 --> 00:31:18,320
Speaker 4: then for her friend to invoice her with a month's notice.

711
00:31:18,960 --> 00:31:21,560
Speaker 4: Please don't get me wrong, but you're confirming menu items,

712
00:31:21,560 --> 00:31:24,920
Speaker 4: you're confirming head count as somebody who's gotten married are

713
00:31:24,920 --> 00:31:25,800
Speaker 4: two weeks before.

714
00:31:26,040 --> 00:31:28,680
Speaker 2: Yes, So like I think that's enough notice.

715
00:31:29,120 --> 00:31:32,560
Speaker 4: Yeah, So I would be like, also, is this not

716
00:31:32,840 --> 00:31:35,440
Speaker 4: one of the things that you allocate for? Like I

717
00:31:35,480 --> 00:31:37,920
Speaker 4: remember planning our wedding and going cool. You know, I

718
00:31:37,920 --> 00:31:40,120
Speaker 4: think we had one hundred and twenty two people at

719
00:31:40,120 --> 00:31:42,760
Speaker 4: our wedding. Beck. I just knew that on the day,

720
00:31:43,360 --> 00:31:45,440
Speaker 4: one hundred and twenty two people is a lot of people.

721
00:31:45,640 --> 00:31:47,840
Speaker 4: Something for someone is going to go wrong and they

722
00:31:47,920 --> 00:31:49,680
Speaker 4: might not be able to attend. That's a cost I

723
00:31:49,800 --> 00:31:52,760
Speaker 4: just have to cover. If you can't afford to cover

724
00:31:52,920 --> 00:31:54,920
Speaker 4: one or two people who can't attend.

725
00:31:55,440 --> 00:31:57,080
Speaker 2: Why are you spending so much on the wedding to

726
00:31:57,120 --> 00:31:57,520
Speaker 2: begin with?

727
00:31:57,880 --> 00:32:00,280
Speaker 4: Are you financially putting yourself out? And we need think

728
00:32:00,280 --> 00:32:02,560
Speaker 4: about this, Yes, I don't know. I just feel like

729
00:32:02,960 --> 00:32:05,520
Speaker 4: if it's so much money that you can't afford it

730
00:32:06,000 --> 00:32:09,560
Speaker 4: to not be reimbursed, your wedding could have been put

731
00:32:09,560 --> 00:32:10,240
Speaker 4: off for a bit.

732
00:32:10,080 --> 00:32:12,760
Speaker 5: Longer, yeah, or just like you don't have to spend

733
00:32:12,800 --> 00:32:15,160
Speaker 5: that much, you know what I mean? But also like

734
00:32:15,360 --> 00:32:17,720
Speaker 5: she's already paid for accommodation and everything.

735
00:32:17,760 --> 00:32:19,560
Speaker 2: Like I just feel like this poor.

736
00:32:19,520 --> 00:32:23,200
Speaker 4: Person, she's probably out for accommodation in a deposit or whatnot.

737
00:32:23,440 --> 00:32:25,240
Speaker 4: And then if you think about it, like three hundred

738
00:32:25,240 --> 00:32:28,400
Speaker 4: and seventy five dollars, that's more money than her like

739
00:32:28,480 --> 00:32:31,200
Speaker 4: food and beverage surely, yeah, who's paying.

740
00:32:31,000 --> 00:32:32,720
Speaker 2: Three hundred and seventy five dollars?

741
00:32:32,800 --> 00:32:33,000
Speaker 1: Yeah?

742
00:32:33,000 --> 00:32:33,920
Speaker 2: What are you getting for?

743
00:32:34,200 --> 00:32:36,520
Speaker 4: Like? And I just again, I don't want to make

744
00:32:36,560 --> 00:32:38,360
Speaker 4: this all about me, but I had a pretty expensive

745
00:32:38,400 --> 00:32:40,640
Speaker 4: wedding back It didn't cost me three hundred and seventy

746
00:32:40,640 --> 00:32:42,800
Speaker 4: five dollars ahead for just the food and the bridge

747
00:32:42,800 --> 00:32:44,680
Speaker 4: and the seat at the table. Don't get me wrong,

748
00:32:44,840 --> 00:32:47,920
Speaker 4: Like I'm sure that once we calculated out decorations and

749
00:32:48,040 --> 00:32:50,760
Speaker 4: venue and all of that, but like, you're already going

750
00:32:50,840 --> 00:32:53,800
Speaker 4: to be paying those overheads irrespective of whether Becketten's or not.

751
00:32:54,000 --> 00:32:58,160
Speaker 2: Yeah, so, like, what's the deal? That's so true? Yeah,

752
00:32:58,200 --> 00:32:58,720
Speaker 2: I don't know.

753
00:32:59,040 --> 00:33:03,720
Speaker 5: Objectively, No, in this situation, absolutely not, But yeah, I think.

754
00:33:03,720 --> 00:33:05,360
Speaker 2: So how do you have that conversation? Though?

755
00:33:05,600 --> 00:33:09,640
Speaker 4: Like that's awkward, So let's make the community answer. Yeah, okay, Yes,

756
00:33:10,120 --> 00:33:12,080
Speaker 4: I was like, you don't have to do this. We

757
00:33:12,160 --> 00:33:14,560
Speaker 4: asked the community. We said, let's talk wedding etiquette. What

758
00:33:14,640 --> 00:33:16,800
Speaker 4: do you think is okay and what isn't okay to

759
00:33:16,840 --> 00:33:20,320
Speaker 4: do in this situation? So lots of diverse responses, as always,

760
00:33:20,320 --> 00:33:23,960
Speaker 4: which is one of my favorite things. Both people knew

761
00:33:23,960 --> 00:33:26,480
Speaker 4: the potential risks of not being able to attend. It's

762
00:33:26,520 --> 00:33:29,560
Speaker 4: out of the friend's control. But isn't it nice that

763
00:33:29,640 --> 00:33:31,840
Speaker 4: her friend tried her hardest to be there to begin with?

764
00:33:32,040 --> 00:33:32,280
Speaker 6: Yeah?

765
00:33:32,720 --> 00:33:33,320
Speaker 2: I agree.

766
00:33:33,720 --> 00:33:36,400
Speaker 4: The next is if I was canceling for a different reason,

767
00:33:36,440 --> 00:33:39,880
Speaker 4: I'd expect to pay, but not in this case. Someone said,

768
00:33:40,040 --> 00:33:42,680
Speaker 4: all couples need to factor in that these things can

769
00:33:42,720 --> 00:33:45,880
Speaker 4: happen at their wedding life happens, it's not your guest's fault.

770
00:33:46,560 --> 00:33:49,280
Speaker 4: Someone else said she replied yes with the info she

771
00:33:49,320 --> 00:33:51,920
Speaker 4: had at the time. It's not like she was being malicious.

772
00:33:52,200 --> 00:33:54,960
Speaker 4: The bride needs to get over it. M hmm.

773
00:33:55,360 --> 00:33:57,000
Speaker 2: The next is if canceling was a.

774
00:33:56,960 --> 00:33:59,600
Speaker 4: Big deal, they should have made that really clear earlier

775
00:33:59,680 --> 00:34:01,560
Speaker 4: on that it wouldn't be acceptable.

776
00:34:01,600 --> 00:34:02,280
Speaker 2: It's a good point.

777
00:34:02,440 --> 00:34:05,160
Speaker 4: Also, if someone said v by the way, I know you'

778
00:34:05,240 --> 00:34:07,600
Speaker 4: virus vp'd yes to my wedding, but it's a really

779
00:34:07,600 --> 00:34:10,320
Speaker 4: big deal. If you counsel later like I'm going to

780
00:34:10,440 --> 00:34:11,840
Speaker 4: charge you, I'm going to do this, I'm going to

781
00:34:11,880 --> 00:34:14,399
Speaker 4: do that, I'd be like better RSVP. No, now there,

782
00:34:14,800 --> 00:34:16,840
Speaker 4: it's just in case, Like, it's just better for me

783
00:34:16,960 --> 00:34:20,600
Speaker 4: not to be in this situation like wild. Someone said,

784
00:34:20,600 --> 00:34:22,640
Speaker 4: my partner offered to pay for his place when he

785
00:34:22,719 --> 00:34:24,160
Speaker 4: had to cancel it the last minute.

786
00:34:24,280 --> 00:34:26,160
Speaker 2: A month is not last minute.

787
00:34:26,400 --> 00:34:29,400
Speaker 4: Yes, you know what if I was canceling my friend's

788
00:34:29,400 --> 00:34:31,720
Speaker 4: wedding last minute and being like I can't come anymore,

789
00:34:31,840 --> 00:34:34,560
Speaker 4: I would offer, but I would also assume that my

790
00:34:34,560 --> 00:34:36,920
Speaker 4: friend would probably decline that offer.

791
00:34:37,520 --> 00:34:40,600
Speaker 2: I think it all gets lumped in together. Yeah, I

792
00:34:40,600 --> 00:34:43,160
Speaker 2: don't know. I don't know what's right or wrong.

793
00:34:43,200 --> 00:34:43,399
Speaker 1: Here.

794
00:34:43,520 --> 00:34:46,279
Speaker 4: Someone said, the friend handled it great. The bride is

795
00:34:46,320 --> 00:34:49,680
Speaker 4: being ridiculous. The bride could invite someone else. She has

796
00:34:49,680 --> 00:34:50,439
Speaker 4: plenty of time.

797
00:34:50,560 --> 00:34:53,640
Speaker 2: Back to your plenty of time. It's a month. Yeah,

798
00:34:53,760 --> 00:34:55,799
Speaker 2: it's a month. Seriously, And like.

799
00:34:55,719 --> 00:34:58,759
Speaker 4: With weddings, I don't know how big her wedding is.

800
00:34:59,360 --> 00:35:02,680
Speaker 4: Let's pretend she invited absolutely every single human that she knew.

801
00:35:03,239 --> 00:35:07,080
Speaker 4: In that case, big wedding that cost shouldn't be as

802
00:35:07,120 --> 00:35:09,400
Speaker 4: big as you're making it out to be. Or if

803
00:35:09,440 --> 00:35:12,520
Speaker 4: you're real savage and had to cull last minute, Hey, beck,

804
00:35:12,840 --> 00:35:15,720
Speaker 4: I know you didn't make the cart, but a spot

805
00:35:15,719 --> 00:35:16,760
Speaker 4: has popped up and.

806
00:35:16,680 --> 00:35:19,239
Speaker 2: You are the person I thought of. That's still really

807
00:35:19,320 --> 00:35:20,080
Speaker 2: nice exactly.

808
00:35:20,200 --> 00:35:22,799
Speaker 5: Or there's going to be at least one person at

809
00:35:22,960 --> 00:35:25,319
Speaker 5: least who's like, I actually don't know anyone this wedding.

810
00:35:25,360 --> 00:35:27,520
Speaker 5: I'd love to bring a plus one, so there's someone

811
00:35:27,600 --> 00:35:29,560
Speaker 5: there that's dying for a plus one.

812
00:35:29,800 --> 00:35:31,880
Speaker 2: Someone said, what is good notice?

813
00:35:31,920 --> 00:35:34,640
Speaker 4: Then if a month isn't enough, Yeah, exactly, Like how

814
00:35:34,719 --> 00:35:36,720
Speaker 4: much notice do I have to give people for stuff?

815
00:35:37,080 --> 00:35:39,759
Speaker 4: Someone said, pregnant friends should not be reimbursing. She has

816
00:35:39,800 --> 00:35:41,520
Speaker 4: a child on the way. She does not need that

817
00:35:41,600 --> 00:35:44,840
Speaker 4: stress and she tried her hardest. Someone else said the

818
00:35:44,880 --> 00:35:47,400
Speaker 4: brightest spent the money. Regardless of whether that guest comes

819
00:35:47,520 --> 00:35:49,760
Speaker 4: or not. All she's losing is a friend.

820
00:35:49,960 --> 00:35:50,200
Speaker 2: Yeah.

821
00:35:50,239 --> 00:35:51,960
Speaker 4: I think that's a good place to leave it. We

822
00:35:52,080 --> 00:35:55,640
Speaker 4: also surveyed you guys, so normal comments, but these are

823
00:35:55,680 --> 00:35:58,200
Speaker 4: the questions Beck that we asked the community. We said,

824
00:35:58,280 --> 00:36:00,759
Speaker 4: would you ask guests to pay if they canceled their

825
00:36:00,760 --> 00:36:04,279
Speaker 4: attendance to your wedding close to the date. Sixty seven

826
00:36:04,320 --> 00:36:08,040
Speaker 4: percent said definitely, not, thirty percent said it really depends

827
00:36:08,080 --> 00:36:10,279
Speaker 4: on how close to the date it was, and two

828
00:36:10,280 --> 00:36:12,800
Speaker 4: percent said yeah, I would. So it's the minority of

829
00:36:12,840 --> 00:36:16,640
Speaker 4: people who think that you owe. Yeah, definitely, I would.

830
00:36:16,440 --> 00:36:16,920
Speaker 2: Deal with it.

831
00:36:16,960 --> 00:36:19,880
Speaker 4: However, you feel most comfortable if that means that you

832
00:36:20,280 --> 00:36:22,800
Speaker 4: don't pay. If that means that you do pay, I

833
00:36:22,800 --> 00:36:25,200
Speaker 4: don't know. I find that really ridiculous as well. And

834
00:36:25,239 --> 00:36:27,600
Speaker 4: to be honest, as someone who has had a wedding

835
00:36:27,640 --> 00:36:31,640
Speaker 4: and completely understands finances, the wedding was my choice, and

836
00:36:31,680 --> 00:36:33,719
Speaker 4: I knew that there would be some kind of you know,

837
00:36:34,000 --> 00:36:36,480
Speaker 4: outcome that meant I'd be losing money in some way,

838
00:36:36,520 --> 00:36:38,759
Speaker 4: shape or form on my wedding. Whether that was things

839
00:36:38,800 --> 00:36:40,920
Speaker 4: I purchased that I didn't use on the date, or

840
00:36:40,960 --> 00:36:43,920
Speaker 4: people not turning up or people breaking something, or you know,

841
00:36:44,080 --> 00:36:47,560
Speaker 4: there's like lots of things that could happen that you know,

842
00:36:47,800 --> 00:36:50,280
Speaker 4: financially impact you. And I think when you're planning a wedding,

843
00:36:50,320 --> 00:36:52,680
Speaker 4: you need to plan for these things. And it's not

844
00:36:52,760 --> 00:36:56,439
Speaker 4: on your friend who's literally about to pop to cough

845
00:36:56,480 --> 00:36:58,040
Speaker 4: up three hundred and seventy five dollars.

846
00:36:58,120 --> 00:37:00,200
Speaker 5: I completely agree, it's really meant to ask for that

847
00:37:00,280 --> 00:37:03,200
Speaker 5: even but yeah, absolutely answer it, or you know, go

848
00:37:03,239 --> 00:37:05,120
Speaker 5: back to your friend in a way it's more comfortable

849
00:37:05,160 --> 00:37:08,759
Speaker 5: and just communicate. It's actually always our amplies. Communication is key,

850
00:37:08,800 --> 00:37:10,520
Speaker 5: But do not pay that three hundred and seventy five dollars.

851
00:37:10,520 --> 00:37:12,480
Speaker 2: Oh bexx advice. All right, we'll leave it there.

852
00:37:12,600 --> 00:37:14,839
Speaker 4: Have a good week, guys, and we'll see you right

853
00:37:14,920 --> 00:37:17,120
Speaker 4: and early on Monday for money diaries.

854
00:37:17,360 --> 00:37:21,440
Speaker 2: Bye, guys.

855
00:37:25,520 --> 00:37:28,080
Speaker 4: The advice shared on She's on the Money is general

856
00:37:28,120 --> 00:37:31,959
Speaker 4: in nature and does not consider your individual circumstances. She's

857
00:37:32,040 --> 00:37:35,480
Speaker 4: on the Money exists purely for educational purposes and should

858
00:37:35,520 --> 00:37:38,680
Speaker 4: not be relied upon to make an investment or financial decision.

859
00:37:39,080 --> 00:37:41,520
Speaker 4: If you do choose to buy a financial product, Read

860
00:37:41,560 --> 00:37:44,880
Speaker 4: the PDS, TMD and obtain appropriate financial.

861
00:37:44,440 --> 00:37:46,240
Speaker 2: Advice tailored towards your needs.

862
00:37:46,600 --> 00:37:50,560
Speaker 4: Victoria Divine and She's on the Money are authorized representatives

863
00:37:50,600 --> 00:37:54,440
Speaker 4: of Money showper Pty Ltd ABN three two one IS

864
00:37:54,480 --> 00:37:58,359
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865
00:37:58,480 --> 00:38:07,120
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