Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
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 4: Hello and welcome to She's on the Money podcast that
Speaker 4: makes personal finance fun, especially on Fridays. It is our
Speaker 4: favorite day of the week because we got a new
Speaker 4: studio and that's really exciting, but also because we get
Speaker 4: our team together in a more relaxed couch environment now,
Speaker 4: which is very exciting to celebrate you how incredible She's
Speaker 4: on the Money community. Miss Jess Ricci is here on
Speaker 4: her couch and she's going to be sharing her best
Speaker 4: money wins from the community. Miss Becksayed is also here
Speaker 4: and she has a number of broke tips for us,
Speaker 4: and this week we're going to be helping to answer
Speaker 4: a juicy money dilemma. It's not that juicy, but it's
Speaker 4: going to be really interesting this week. It's all about
Speaker 4: what it means when you get an activity statement from
Speaker 4: the ato juicy juicy. I was like, okay, so maybe
Speaker 4: I'm just excited to explain this one, and other people
Speaker 4: will just be like, yeah, what do I do when
Speaker 4: I get an activity statement? And something that is lead
Speaker 4: into our dms about potentially more juicy, whether you should
Speaker 4: stay in a job where the culture is of overworking
Speaker 4: and whether that's the norm or not.
Speaker 2: I don't like it already. Yeah, I don't like it already.
Speaker 4: Like and we're not even slackers that she's on the money,
Speaker 4: but like overworking canceled.
Speaker 5: Absolutely, there's definitely somewhere between overworking and being slack.
Speaker 2: Yeah, there's a whole lot of middle ground. There's a
Speaker 2: whole lot of middle week cover a lot.
Speaker 4: But before we get there, guys, how were your weeks?
Speaker 2: Yes, you go first, Mimmy's been good. I'm so excited
Speaker 2: to be here in our new.
Speaker 4: Studio, So I feel like we have leveled up. Yeah,
Speaker 4: it is so so fun. We have a new home
Speaker 4: and on socials you see it'll look beautiful.
Speaker 2: Oh my gosh.
Speaker 4: Our videos are going to go to the next level,
Speaker 4: like that's my week here, basically because we just thought
Speaker 4: you guys deserve better content.
Speaker 2: The couches are company, the cookes crispy. We are so ready, Beck,
Speaker 2: how's your week being really good? I'm also really happy
Speaker 2: about this new studio. I know that people won't be
Speaker 2: able to see, but you'll hear it in our voice.
Speaker 2: You can just hear how excited we are. Yeah.
Speaker 5: Yeah, but it's been a gorgeous week, just full of love,
Speaker 5: light and laughter.
Speaker 2: I love that. Yes, I'm doing a little bit of
Speaker 2: live laugh, lovy.
Speaker 4: I am getting prepared for Harvey's first birthday, which is
Speaker 4: so exciting. I have finished, thankfully, my golf cart and
Speaker 4: there are photos online. I will definitely be sharing that,
Speaker 4: don't you worry, because it's like my pride and joy.
Speaker 2: It great.
Speaker 4: I completely hyper fixated on it and was like googling
Speaker 4: every single person who's ever done a diy reno on
Speaker 4: one of these things, watching their tips and tricks and
Speaker 4: how they Anyway, I'm very excited about that, and I
Speaker 4: can at the end of the day. Yes, I did
Speaker 4: spend more on paint than I did on the actual
Speaker 4: cozy coop. That's a bit like it's the thought that counts. Also,
Speaker 4: why spray paint so expensive?
Speaker 2: It is actually really expended.
Speaker 4: Yeah, I did end up doing a little bit of
Speaker 4: a budget hack there. I bought the expensive primer and
Speaker 4: the expensive top coat, and then I.
Speaker 2: Got cheap color. Yes much.
Speaker 4: I feel like that was a good middle ground because
Speaker 4: I didn't realize spray paint twenty bucks A can eat
Speaker 4: twenty bucks a can the two dollar shop.
Speaker 2: Oh can the hairspray? I know, a colored hairspray. I
Speaker 2: didn't use colored hairspray.
Speaker 4: It was genuine paint that I'm aware of, But I
Speaker 4: mean it could technically become colored hairspray. Yeah, that's true.
Speaker 4: Let's move on from that though. Would you guys like
Speaker 4: to hear a five star review that we received this week?
Speaker 1: Yes?
Speaker 2: Please, absolutely, We've been so lucky.
Speaker 4: There have been a few of them pop up recently,
Speaker 4: and I'm not gonna lie every time I read them.
Speaker 4: My heart is just so happy. This one is from
Speaker 4: SLP and they say I can't say enough how grateful
Speaker 4: I am to have come across this podcast As someone
Speaker 4: who grew up with a mum who lived paycheck to
Speaker 4: paycheck and wasn't financially smart. I always believed that would
Speaker 4: be my narrative too, and I couldn't thrive financially. This
Speaker 4: podcast has got me excited about my family's finances and
Speaker 4: made me believe that I can thrive financially and change
Speaker 4: the narrative for my own kids. I always thought investing
Speaker 4: was a rich man's game, but Victoria has given me
Speaker 4: the confidence through this podcast to dive right in.
Speaker 2: It's been life change. That's cool in the entire world.
Speaker 2: That's amazing. I was trying to think of, like what
Speaker 2: FLP would stand for she loves podcasts. That You're like,
Speaker 2: she loves podcasts. I'm like, yes, so that's Sarah Lee Parkinson.
Speaker 5: That so much Sarah Jessica Parker, the Sarah park I
Speaker 5: know Jay is not the same, but in my brain
Speaker 5: they look exactly the same.
Speaker 2: It's like the automatic kids. Parker was writing in.
Speaker 4: Yeah, well, I feel like I'm really excited about this
Speaker 4: and I feel like our five star reviews they just
Speaker 4: like set the tone of the week.
Speaker 2: Oh, it's such a good finisher.
Speaker 4: But my other favorite thing is our money Wins and
Speaker 4: Confessions thread in our Facebook group, and every single week,
Speaker 4: Miss just Greci gives us a rap of some of
Speaker 4: either her favorites or the most popular ones. Suggess, what
Speaker 4: have you round up for us this week?
Speaker 2: All right? This week we're starting with a solid but
Speaker 2: simple one from Katie. She said she sold her old
Speaker 2: fridge on Facebook Marketplace when they thought no one was
Speaker 2: going to buy it. Oh duh, that's a good money
Speaker 2: win just listening. Never not, because then you don't have
Speaker 2: to take it anywhere yourself, is what I I was
Speaker 2: talking to my dad about Facebook Marketplace the other day
Speaker 2: because he had a whole heap of old tools that
Speaker 2: he's like, honestly, I want to give them away.
Speaker 4: Yeah, but I don't want to give them away because
Speaker 4: people on Facebook Marketplace as savages. So he listed them
Speaker 4: for like twenty dollars and then just gave them away
Speaker 4: when the people arrived.
Speaker 2: And I just can't be bothered, like, don't worry. But like,
Speaker 2: also it was because I didn't want people who just
Speaker 2: wanted free stuff.
Speaker 3: Yeah.
Speaker 2: Yeah, I think that's a great idea little strategy, very clever.
Speaker 2: Someone's day Yeah. Next, I've got a money win from Lynn,
Speaker 2: who said she set up an automatic savings debit about
Speaker 2: a year ago. She checked it today and she's got
Speaker 2: just over fifteen grand. Sorry what, Linda? She was in shock.
Speaker 2: She was in shock because she didn't miss it. I
Speaker 2: think so. I think she must have just so good
Speaker 2: set and forget she wouldn't notice debiting away. And then
Speaker 2: she had a little squiz and was like, oh my goodness,
Speaker 2: I am yeah, well done. I'm so happy when people
Speaker 2: find things that just work for them. Yeah. Next, I've
Speaker 2: got money in from Nadine, who said I made five
Speaker 2: dollars thirty seven on shot back by playing the games
Speaker 2: after listening to Friday's episode. Thanks back. Oh my god. Yeah,
Speaker 2: I'm so proud of you. Now I've got one from Devani,
Speaker 2: who said money in. I've switched two fortnightly repayments from
Speaker 2: monthly repayments to save myself interests along the way smart.
Speaker 2: And then Desley got in the comments and said, go
Speaker 2: to weekly it'll be even better. She will be go
Speaker 2: to daily. Alli, imagine how often can you do that?
Speaker 2: I wonder if there's a limit, So I'm like, how
Speaker 2: frequently you can make those transfers. Yeah. I also like,
Speaker 2: where does your mental health come into play?
Speaker 1: Right?
Speaker 2: Yeah, how do you live your life? The limit does
Speaker 2: not exist, just as like anything for free points like colutely. Next,
Speaker 2: I've got money in from India who said I sent
Speaker 2: my first invoice for my small side business and also
Speaker 2: asked for our higher fee for the next booking with
Speaker 2: the same client after I realized how much prep and
Speaker 2: post time went into the first job.
Speaker 1: Yeah.
Speaker 2: Good, yes, queen, I love that, and.
Speaker 4: It's good to like reflect and be like, okay, we
Speaker 4: need to change this. Like in business, you are always changing,
Speaker 4: you are never staying stagnant all the same.
Speaker 2: Especially in the early days, where like she said, she's
Speaker 2: figuring out how much time and effort goes into things,
Speaker 2: even just like invoicing, like how long's that taking you?
Speaker 2: That needs to be taken into consideration one hundred percent.
Speaker 2: And then lastly, I've got a money win from Tay
Speaker 2: this week who said, we've been collecting the ten cent
Speaker 2: cans and models. I've asked my mom to save hers.
Speaker 2: My fiance brings them home from his employees, and we
Speaker 2: have been accumulating them so quickly and putting all the
Speaker 2: money aside for our daughter. That is actually so good.
Speaker 4: My niece and nephew collect them as well, and now
Speaker 4: they have a separate bin. So they've got like recycling,
Speaker 4: they've got their rubbish and like their green waist, but
Speaker 4: then they have a separate bin and it's just for
Speaker 4: cans and things.
Speaker 2: It's so smart.
Speaker 4: Yeah, even if it's just like an old box in
Speaker 4: the laundry or something that way, you don't have to
Speaker 4: sort them.
Speaker 2: I feel like it's a great way to be teaching
Speaker 2: kids about money. I feel a really good way to it.
Speaker 4: Like I feel like we need to create and like
Speaker 4: I'm putting the pressure on myself here by publicly sharing this,
Speaker 4: but I have been thinking for ages about creating like
Speaker 4: a savings plan for kids. So you know on our
Speaker 4: website how we have the gold Tracker, Yes, like that,
Speaker 4: but it's like smaller amounts that kids can do that
Speaker 4: you can achieve with like collecting bottles.
Speaker 2: And cans doing money, Yeah, exactly.
Speaker 4: And I feel like kids just need to learn about
Speaker 4: money earlier, and it's not about how much they get,
Speaker 4: it's about what they're doing with it and how they
Speaker 4: feel about it.
Speaker 2: It's like a little bit of work ethic in their
Speaker 2: tree with the cans because they've got to save them
Speaker 2: up and then yell with them and being like, I
Speaker 2: think that's quite clever.
Speaker 4: And then it teaches them how to budget, like you know,
Speaker 4: what are you saving for? Like let's talk to them
Speaker 4: about goal setting, and like what's the difference between short
Speaker 4: term and long term goals? Like you know, if you
Speaker 4: wait a little longer, you'll get something a little bit better.
Speaker 4: I think that's a good lesson to learn, especially early on.
Speaker 4: Definitely leave it with me. I've got plans. Now over
Speaker 4: to you, miss beccis is your turn to share your
Speaker 4: three broke tips to bring me to the table, So
Speaker 4: as always have two from the community, one for myself.
Speaker 4: This first one comes from Vanessa, who I feel like
Speaker 4: we've mentioned something similar to this before, but I just
Speaker 4: thought i'd give it a go anyway. But she said
Speaker 4: that if you are looking for bits and pieces for
Speaker 4: your car, and I'm a big fan of these, a
Speaker 4: car pick apart were you go into the junk yard
Speaker 4: yourself and you find what you need, you grab it.
Speaker 4: I've gotten like little fuses and stuff out of like
Speaker 4: a fuse boxer. It probably doesn't make a lot of
Speaker 4: sense to maybe just speaking foreign language.
Speaker 2: Even like mirrors off cars excited me to take me
Speaker 2: there because I have a broken part on my What
Speaker 2: do you have? Well let me tell you? Oh god please,
Speaker 2: I still own my first car that I bought, yes,
Speaker 2: because I can't part with it, like and just to
Speaker 2: like reverse a little bit.
Speaker 4: I'm very grateful that I can still afford to keep it.
Speaker 4: But if I sold it, I maybe would get maximum
Speaker 4: fifteen hundred dollars, Like.
Speaker 2: It's still the money, still a lot of money, but
Speaker 2: like it's not like I'm I've got like a thirty
Speaker 2: thousand dollars car sitting in the driveway. Don't want people
Speaker 2: thinking that.
Speaker 4: But there's also like this deep emotional attachment that I have,
Speaker 4: even my little Mercedes. So it's a Mercedes, she's really old. Yeah,
Speaker 4: clearly cheap, but there's so many things on it that
Speaker 4: are broken. But how do you know that that's going
Speaker 4: to work for all cars? Like do you have to
Speaker 4: get the same model? Well, that's the thing, VD is
Speaker 4: that all you have to do is Google. Like if
Speaker 4: you have like a my one's quite generic. I just
Speaker 4: have a toilet, so like a lot of things can
Speaker 4: fit on it. But if you even just take photos.
Speaker 4: You can google your making model a year and what
Speaker 4: kind of mirror you need if you go through these
Speaker 4: like junk yards with you know, the scrap parts and stuff,
Speaker 4: so you try and find a model of car that
Speaker 4: you'd be surprised to see, Like there were so many
Speaker 4: in there that like, it doesn't have to be the
Speaker 4: same year necessarily.
Speaker 2: So many of my car in a junk yard. Now, yeah,
Speaker 2: and it doesn't have to be the same year.
Speaker 5: A lot of a lot of the time, like a
Speaker 5: lot of the you know, like even tires and stuff,
Speaker 5: they have like different measurements and if you just look
Speaker 5: for roughly the same car and take photos of your car,
Speaker 5: you can google it as well.
Speaker 2: You are so resourceful.
Speaker 5: I'm always Yes, it also called so in Melbourne it's
Speaker 5: called pick up Heart.
Speaker 2: I was thinking pick apart, yes, and mix like.
Speaker 5: The yeah and oh my god, for like people like me,
Speaker 5: it is like a lollly shop and it's like, oh,
Speaker 5: I'm so excited. But even like the thing is, even
Speaker 5: if you bring home a tire that doesn't fit, you're like, well,
Speaker 5: now I know exactly what I'm looking for when I
Speaker 5: go back.
Speaker 2: It is this measurement by this measurement. It's very cheap.
Speaker 5: I got fuses, I got mirrors, even got like little
Speaker 5: like those. I can't remember the name of the terminology,
Speaker 5: but the little lock thing if you open up your car,
Speaker 5: you look in.
Speaker 2: The side on the little lockstick. I can't remember what
Speaker 2: they called. But I like that you're looking at us
Speaker 2: so as though we might you guys know what I'm doing.
Speaker 5: But I got mostly all of it for free. I
Speaker 5: feel like it's quite small. They're just like, oh, just
Speaker 5: take it, like fuse mirrors, and instead of going in
Speaker 5: to a mechanic, who will it is a lot of labor.
Speaker 5: I mean, it can be a lot of labor, so
Speaker 5: I understand. But yeah, just do that and google how
Speaker 5: to fix it yourself. So I think it's a great
Speaker 5: broke tip. The other one comes from a friend who
Speaker 5: went on a date recently and the date took her
Speaker 5: to this little like pizza shop like a hole in
Speaker 5: the wall, and there was a deal that was like
Speaker 5: two large pieces and a drink and something like that
Speaker 5: for X amount of money, and the date and her
Speaker 5: went and sat and ate these pizzas. The date only
Speaker 5: ate her pizza and then took a whole pizza home
Speaker 5: with the drink. And so my broke tip for this
Speaker 5: week is to.
Speaker 2: What try finish the broad tip? And I'm so sorry.
Speaker 5: My break tip this week of my friend's broad tip,
Speaker 5: I should say, is first of all, pretend you're not hungry,
Speaker 5: and second of all, only eat the date other dates food.
Speaker 5: Third of all, try and find a place that will
Speaker 5: do a deal. That way, you get to go home
Speaker 5: with a whole lass meal and a whole family size drink.
Speaker 2: Absolutely definitely not a second date a date. There's no
Speaker 2: second date, right that we never know, like this friend,
Speaker 2: how did they feel?
Speaker 5: Well, it's honestly, I think the majority majority, being just me,
Speaker 5: was kind of impressed.
Speaker 2: I respect that. I kind of respect it. Would I
Speaker 2: be going on another day with you? Probably not?
Speaker 5: That is just you get level a good story to tell,
Speaker 5: and so I feel like experience chi ching and free
Speaker 5: pizza chi ching.
Speaker 2: Okay, all right, all right, that's a really beautiful broke tip.
Speaker 2: Thank you. Yeah, that's stunning.
Speaker 4: And mine, oh yep, and your Yes, I'm hoping yours
Speaker 4: is better.
Speaker 2: Yeah, well, I don't think it is.
Speaker 5: And in fact, maybe it's worse than everything you've ever
Speaker 5: heard before. But I don't know, if this is bad
Speaker 5: or not, but I when I drive right now, I've
Speaker 5: been like kind of broke. I well, what am I
Speaker 5: talking about right now? Don't feel like I'm always kind
Speaker 5: of broke, but I have noticed, and I don't know.
Speaker 2: If it's okay, Paul.
Speaker 5: I don't know if this is like bad for my
Speaker 5: car or not, but I've noticed that when this is
Speaker 5: only for manual drivers, when I'm driving, it doesn't matter
Speaker 5: what speed I'm doing if I can safely be in
Speaker 5: fifth gear without my car stalling. I'm talking like over
Speaker 5: fifty meters an hour, and people tend to be on
Speaker 5: the freeway before they put their car in fifth gear.
Speaker 5: I know this also doesn't really make a lot of sense.
Speaker 2: You guys don't really know right now strictly an auto girl, that's.
Speaker 5: So fair for my manual drivers being fifth gear, unless
Speaker 5: it's like you're about to stall in fifth gear because
Speaker 5: your engine is not working as hard, and you will say, Pederal,
Speaker 5: it's my broke tip. Your broke tip is staying fifth gear.
Speaker 5: If you can't thing to add to that, because I.
Speaker 2: Don't even know what my caear does. No, I feel
Speaker 2: like it's bad my car. It's so embarrassing. Absolutely aimately,
Speaker 2: no idea. I'm embarrassed because they brought some things that
Speaker 2: I feel.
Speaker 4: Yes, because my sister got to learn in a manual
Speaker 4: so she can drive a manual and I immediately like,
Speaker 4: there are rules in life that are just like they're rules,
Speaker 4: Like no one said that it was a real rule,
Speaker 4: but it exists, right, Like how the number twenty five
Speaker 4: that's a pointing number. Yes it is, Yeah, I would
Speaker 4: agree with you, and twenty six round exactly.
Speaker 2: Like I don't make the rules to a rule.
Speaker 4: Another rule people who drive manual immediately cooler.
Speaker 2: No manualism. Manual car is a big part of my
Speaker 2: personal law. I don't know what is it true? Oh,
Speaker 2: we're gonna suggest the law. So my parents insisted that
Speaker 2: I learned to drive in a manual car because my
Speaker 2: mom said, like, what if there's an emergency in the
Speaker 2: only car available, asm manual car, what are you going
Speaker 2: to do? Die?
Speaker 4: Well, my dad used to say, like, what are you
Speaker 4: going to do if you don't learn your times tables?
Speaker 4: You're not always going to have a calculator in your pocket.
Speaker 2: I sit down, Eric. So I started to learn to
Speaker 2: drive a manual car. I hated it. I didn't like it.
Speaker 2: I was not very good at it. And then one
Speaker 2: day we were driving. We took a long road trip
Speaker 2: and we drove over train tracks and I stalled and
Speaker 2: the boom gates started coming down, and I started to
Speaker 2: have a panic attack, because I'm a normal person would
Speaker 2: and at the time my anxiety was also undiagnosed, so
Speaker 2: like I's like it was like curtains for me. I
Speaker 2: was like, this is it I die by train in
Speaker 2: this moment. Anyway, obviously we were fine. Mum got the
Speaker 2: car going, we got off the tracks, it was all good.
Speaker 2: But I literally pulled over to the side of the road.
Speaker 2: I got out of the car and I looked at
Speaker 2: dead in the eye and I said, over my dead body,
Speaker 2: we'll like ever drive a manual car ever again. Wow,
Speaker 2: I haven't touched one since. Wow. Is jess law is?
Speaker 6: Yea?
Speaker 2: And that actually kind of gave me fifth year. Don't
Speaker 2: know her, like I don't know, I don't Wow. I'm
Speaker 2: so sorry. An emergency, we're running there, Yeah, get on
Speaker 2: my back. I'll piggyback you to the hospital, like whatever,
Speaker 2: run away from the running to death in an emergency.
Speaker 2: I will admit my face the thought of driving on
Speaker 2: your car just triggers my anxiety. Something shocking. Now I understand,
Speaker 2: I understand.
Speaker 5: I thought you're also going to say that like manual drivers,
Speaker 5: it's like the whole identity like people people drink espresso's just.
Speaker 2: Look everybody else, manual drivers are cooler, like they're just cooler,
Speaker 2: like they they've just got their lives together. I can't
Speaker 2: do that. I am not one of you. I could
Speaker 2: see Alex now that you say.
Speaker 4: Exactly, Sister, Alex is just much cooler than I ever
Speaker 4: will be. And it's been the way, like that's been
Speaker 4: the way of the world forever. Jimmy, you will literally say, oh,
Speaker 4: I see what you were talking both of us. I
Speaker 4: remember saying to Jess before she met my sister. I
Speaker 4: was like, my sister is much cooler than I'll ever be.
Speaker 4: And she's like yeah, sure, sure sure, And then after
Speaker 4: she's like, yeah, you're right.
Speaker 5: You know, when you don't want someone to meet someone
Speaker 5: because you're like they're you're going to think they're funnier than.
Speaker 2: Cool, Like I like having a cool sister. That's good.
Speaker 2: It's way better than going, oh my sister's weird. Yeah,
Speaker 2: that's true.
Speaker 4: It's like when you're watching maths, like, I would be
Speaker 4: mortified if my suit maybe she does introduces me as
Speaker 4: like oh yeah, my sister's controversial, or my sister's.
Speaker 5: It's got melancholic music playing in the captions.
Speaker 2: Yeah, Like I don't want people to say, oh, I'm
Speaker 2: so sorry.
Speaker 5: Yeah, I wonder what you would be on maps.
Speaker 2: All right, let's go to a really quick rate because
Speaker 2: on the flip side, we're going to be talking about
Speaker 2: activity statements, very excited. What are you going to do
Speaker 2: when you get one from the ato? Are you going
Speaker 2: to call She's on the Money, That's what you're going
Speaker 2: to call.
Speaker 4: And we're also going to be talking about something you
Speaker 4: slip into our DMS about this week, we're talking about
Speaker 4: whether you should stay in a job with a culture
Speaker 4: that overworking is the norm. So guys, don't go anywhere.
Speaker 2: Welcome back, everybody. Let's take a listen to this week's
Speaker 2: money dilemma.
Speaker 4: Hi, there, have you got a money dilemma you just
Speaker 4: can't solve that. She's on the Money team is here
Speaker 4: to help. Every week we tackle your dilemmas, both big
Speaker 4: and small, to answer your most burning money, career and
Speaker 4: life questions. To get involved simply head to our website
Speaker 4: and leave us a short voice recording, and you might
Speaker 4: just find yourself on the show. Now, let's take a
Speaker 4: listen to this week's money dilemma.
Speaker 6: Hi, she's on the money. I've just received an activity
Speaker 6: statement through the ATO. I've never had this before. I'm
Speaker 6: assuming it's because my bank interest was quite high on
Speaker 6: my last tax return, which left me owing a fair
Speaker 6: bit more tax than had been estimated throughout the year.
Speaker 6: Because I've never had this before, I'm not really sure
Speaker 6: what it is. I assume it's just to kind of
Speaker 6: give the ATO tax throughout the year rather than having
Speaker 6: a larger balance at the end of the year. But
Speaker 6: all the information I can find about online is more
Speaker 6: so directed at soul traders, which doesn't apply to me.
Speaker 6: There wasn't really a lot of information shared, just an
Speaker 6: activity statement saying I owed X amount of money by
Speaker 6: the end of the month. I was just wondering if
Speaker 6: you could sort of explain what this is and maybe
Speaker 6: provide some information. Thanks.
Speaker 2: I thought it was a business thing. I didn't know
Speaker 2: it wasn't a business thing. So there you go. Highlighting
Speaker 2: something today too, because I get activity statements and a
Speaker 2: business activity statement are two different things, oh, which is exciting,
Speaker 2: and they are used to kind of report and pay
Speaker 2: like a number of different tax obligations, but then also
Speaker 2: business obligations. And what would have happened is if you're
Speaker 2: an individual, like if she's a business, like same kind
Speaker 2: of applies, but usually a BA or a business activity
Speaker 2: statement or a BAS or whatever you want to call it.
Speaker 2: It's a statement that you get and some companies pay
Speaker 2: them quarterly, some pay them monthly, like for example, she's
Speaker 2: on the money pays their business activity statement, Like I
Speaker 2: pay tax every single month, and that to me is
Speaker 2: actually a relief because I'm like, okay, cool, what tax
Speaker 2: do I owe? I feel like I'm on top of it,
Speaker 2: Like it's kind of like a little check in every
Speaker 2: month I'm doing financials anyway, it's just like I feel
Speaker 2: like my house is really clean. And I didn't like
Speaker 2: this is just me personally, but I didn't like when
Speaker 2: I was paying basses quarterly because I felt like it
Speaker 2: was a really big chunk of money, Like I want
Speaker 2: to just get rid of it, like if it's not
Speaker 2: my money and it's in my bank account, actually want
Speaker 2: to get rid of it sooner rather than later. Because
Speaker 2: like it's sitting there and watching it going like like
Speaker 2: what's going on. Anyway, you as an individual may get
Speaker 2: an activity statement if in the last year your payable
Speaker 2: tax was actually more than what your employer deducted. So
Speaker 2: it's actually to protect you. And the same is for
Speaker 2: like the ATO isn't doing bass because they're like, oh,
Speaker 2: we don't trust that you won't pay your tax. It's
Speaker 2: so that you don't get a rude surprise at tax time.
Speaker 2: And what might have happened, and it might be all
Speaker 2: of the things she suggested, but more probable is just
Speaker 2: that there was a discrepancy between what your employer said
Speaker 2: you were going to have to pay in tax and
Speaker 2: what they deducted and paid on your behalf, and then
Speaker 2: you got a big tax bill. It's to actually stop
Speaker 2: that happening in the future because there must be a
Speaker 2: reason why. So the way tax is calculated, and to
Speaker 2: be clear, I am not an accountant, so you might
Speaker 2: need to or you should talk to your accountant. But
Speaker 2: the way tax is calculated is on an average, right,
Speaker 2: So if you had a month where you earned heaps
Speaker 2: of money and you are employed, your employer would deduct
Speaker 2: a heap more but then the next month, what if
Speaker 2: you didn't work or you went on unpaid leave. Then
Speaker 2: when the ATO looks at your annual income, they spread
Speaker 2: that out over all of the months and then go, oh, well,
Speaker 2: you know if in one month, you know, let's pretend
Speaker 2: you had a taxable income of thirty percent, which is
Speaker 2: the most normal in Australia, but one month you like
Speaker 2: made bank and you jumped up a marginal tax bracket
Speaker 2: for that month and your employer withheld more tax. Then
Speaker 2: later down the track, when the ATO is doing your
Speaker 2: tax return, they're like, oh, you didn't actually earn more
Speaker 2: than one hundred and eighty grand yess like, you actually
Speaker 2: earned less, but we taxed you at that amount because
Speaker 2: that's what you did that month, So we're actually going
Speaker 2: to give you a refund. The opposite could be true,
Speaker 2: and it could just be out of sync and they're
Speaker 2: just protecting you. And that's what an activity statement would do.
Speaker 2: It's so that you check in more regularly and you're
Speaker 2: not going to get a route.
Speaker 5: So is it possible that the employer, say, for example,
Speaker 5: they're paying you one hundred dollars a week and they're like,
Speaker 5: we're putting thirty dollars a week to sent out a
Speaker 5: tax but they only sent like fifteen dollars, but they
Speaker 5: said that they're sending thirty.
Speaker 2: Is that sometimes a situation like is that why?
Speaker 4: Maybe yeah, they should not be doing that, but is
Speaker 4: that possibly what?
Speaker 2: It's not going to have the same ramifications.
Speaker 4: It's business not paying tax, not using like yeah, that's
Speaker 4: a whole difference. Okay, But it's very important to make
Speaker 4: sure that your employer is paying their attack and your
Speaker 4: super and all of that, which is why we need
Speaker 4: to read our.
Speaker 2: Pay slips and understand our pay slips. And I think
Speaker 2: that there's actually going to be an episode coming up
Speaker 2: of me just breaking down a pay slip. I know
Speaker 2: that that's really basic for some people, but for lots
Speaker 2: of you might be like I don't actually know what
Speaker 2: these things mean, or like why does it say this
Speaker 2: many hours here? I felt like I had it, Like
Speaker 2: we're just.
Speaker 4: Going to go through, line by line all the things
Speaker 4: that could be possibly on your pay slip, and I
Speaker 4: think that'll be a really good superful.
Speaker 2: Yeah, that's very cool.
Speaker 5: Also, if the in cases person you know, accepts their
Speaker 5: fate and it's like, well I gotta pay this, you
Speaker 5: can pay by installments.
Speaker 2: Yeah, you can always just call the ATO up and
Speaker 2: have a chat with them and even ask them, hey,
Speaker 2: what was the specific reason I got an active statement?
Speaker 2: And they might be able to open your file and
Speaker 2: have a chat with you about it. More often than not,
Speaker 2: it's literally just because that discrepancy exists. I know she
Speaker 2: was like, Oh, it might have been because of this
Speaker 2: or that. It could literally be because you're a good investor.
Speaker 2: And like, let's say you were a really great investor
Speaker 2: and you had a heap of shares that performed really well,
Speaker 2: so therefore you went up a tax bracket. But your
Speaker 2: employer they don't know your personal business or what you're
Speaker 2: investing in. So you've only paid X amount of tax,
Speaker 2: but at tax time you owe a little bit more.
Speaker 4: Sure, it's a good problem to have, Like paying more tax.
Speaker 4: As much as it hurts and it's not fun, it's
Speaker 4: a good problem to have, and paying it more regularly
Speaker 4: means that you're not going to get stune come June thirty.
Speaker 2: Yeah, yeah, yeah, should be into the juicy store. Are
Speaker 2: you ready? Guys?
Speaker 4: All right, I have a DM for you high queens.
Speaker 4: I'm currently doing a job that's draining me. Imagine a
Speaker 4: consulting job where you were paid for thirty seven and
Speaker 4: a half hours, but end up working fifty hours a
Speaker 4: week to make sure the job is done. No one
Speaker 4: forces you to, but everyone does it and expects you
Speaker 4: to do it. I'm currently in the process of applying
Speaker 4: for permanent residency. Exciting, and I can do so thanks
Speaker 4: to one year working as a consultant.
Speaker 2: Although I love my team and currently have.
Speaker 4: Financial security, my mental health has never been so low.
Speaker 4: I have zero work life balance and almost no time
Speaker 4: for hobbies. When the weekend comes, I'm so tired, I
Speaker 4: just stay home. Question is, would you quit and prioritize
Speaker 4: mental health, although it would make it harder for you
Speaker 4: to find another job as a not yet permanent resident,
Speaker 4: what would you do?
Speaker 5: I really am so strongly against this culture of like
Speaker 5: it's expected that you stay back and you work late
Speaker 5: and you work extra hours.
Speaker 2: It is so bad. It's gross and where did it
Speaker 2: come from and why is it there? Why does it exist?
Speaker 5: Because if you're paying me for these amount of hours,
Speaker 5: and you're doing your job that in those hours, if
Speaker 5: you're severely overworked and you must work over time, that's
Speaker 5: the problem with the company. It's not a problem with you,
Speaker 5: it's a problem the company not actually hiring enough people
Speaker 5: to keep up with all the workless you never ever
Speaker 5: ever falln any person to ever have to pick up.
Speaker 5: So I don't like it, and I think you need
Speaker 5: to get the hell out of there. But did this
Speaker 5: person mention how long they have left until the one year? Okay,
Speaker 5: well if you're I feel like, if you're close enough,
Speaker 5: maybe stick it out and just like just honestly, like,
Speaker 5: just deal with it for now. The feeling of like, oh,
Speaker 5: everyone kind of hates me because I'm not doing more hours,
Speaker 5: because honestly, they're the ones who will eventually be like deeply,
Speaker 5: deeply sad about the fact that they wasted so much
Speaker 5: of their free time, not spending time with their family,
Speaker 5: not spending their time with their friends, not going out
Speaker 5: and seeing the sun. Isn't it crazy that we don't
Speaker 5: see the sun for most of the week. I don't
Speaker 5: like it. You must leave. This is not a normal
Speaker 5: way to live your life. We should not be working
Speaker 5: more hours than we expected you every now and then,
Speaker 5: of course, but at the same time, every now and then,
Speaker 5: leave early. Just don't tell anyone whatever. So it all
Speaker 5: comes out in the wash. If it's like I remember
Speaker 5: one time my friend her boss said, the only criticism
Speaker 5: I have is that you never work late.
Speaker 2: What do you mean? What is that? Like? What is why?
Speaker 1: Yeah?
Speaker 3: Exactly?
Speaker 5: Do mean?
Speaker 2: I do my job? Exactly? Do you mean I'm efficient?
Speaker 2: I do my job? And why why should anyone be
Speaker 2: expected to work late? It's it's so bad. You see
Speaker 2: our team at work late. There's literally nothing going on
Speaker 2: except espresso martinis and totally Thursdays totally, and I regret
Speaker 2: nothing for that decision totally.
Speaker 5: It's like some people think that, like I'm shocked that
Speaker 5: you want to go and live your life outside of these.
Speaker 4: And it's up to the managers as well to be
Speaker 4: enforcing that. Yeah, obviously that's I would assume being driven
Speaker 4: by management, but like it's also up to management to
Speaker 4: nip that in the butt and make sure that your
Speaker 4: team have a good work life balance, because otherwise you're
Speaker 4: going to burn them out. Like at the end of
Speaker 4: the day, literally a terrible business decision, you're going to
Speaker 4: see higher turnover, less engagement. Like and you know what,
Speaker 4: I used to work as a culture and engagement consultant
Speaker 4: and businesses see fifty percent higher shareholder reten when you
Speaker 4: have engaged employees.
Speaker 5: Yes, exactly right, I'm sorry for you. The only other
Speaker 5: thing I was going to say was that because it's
Speaker 5: thirty seven point five hours, I'm assuming that means that
Speaker 5: you're not getting paid for your breaks, which also means
Speaker 5: you're still in the area. You're probably still in the
Speaker 5: office when you're taking your break. So you're giving them
Speaker 5: x amount of time.
Speaker 2: Yeah, fifty hours of a week at least. Yeah, not
Speaker 2: for your employer. It's ridiculous.
Speaker 5: So like, Okay, you're not paying me for this amount
Speaker 5: of time. So that's the extra time. That's the extra
Speaker 5: time when I'm still not at home. I'm still not
Speaker 5: seeing my friends, I'm still seeing my family, it's not
Speaker 5: doing things that I like to do.
Speaker 2: So there's the extra time you have it. You're not
Speaker 2: paying me for my breaks.
Speaker 5: Don't do any even a nano second later than what you.
Speaker 2: Have to get out of there, leave asap. What are
Speaker 2: you doing? I think like there is you have to
Speaker 2: acknowledge that there is unfortunately a really strong culture of this,
Speaker 2: particularly incorporate Like I can think of two jobs that
Speaker 2: I've had specifically that had very money. No, no, no,
Speaker 2: but very much had the same culture. And similarly, I
Speaker 2: had a manager talk to me once about the fact
Speaker 2: that I always left right on time, and I was like, sorry,
Speaker 2: like what anyway, what I don't think it's right. I
Speaker 2: completely agree. Maybe it's a reflection of you manager. Yeah,
Speaker 2: like it shouldn't be the norm at all. But I
Speaker 2: think the risk adverse part of me says that you
Speaker 2: should stick it out until your permanent residency comes through
Speaker 2: because I know that there are a lot of hoops
Speaker 2: to jump through. I know someone through someone that's recently
Speaker 2: had like they left their workplace. They're having to leave
Speaker 2: the country because like they couldn't get a job like Jerry.
Speaker 2: I just think you've put in so much time already,
Speaker 2: and knowing that it can be difficult to find companies
Speaker 2: that are willing to sponsor or willing to do whatever,
Speaker 2: it adds the layer of complication and stress that would
Speaker 2: do you know what I mean, Like you've kind of
Speaker 2: be trading one kind of stress for another. I don't
Speaker 2: know how far you have left to go until you
Speaker 2: hit your residency. I personally would make the decision to
Speaker 2: stick it out until it was secured, and then I'd
Speaker 2: be booking it out of there.
Speaker 4: Yeah, I'm the same, And in most situations i'd say
Speaker 4: absolutely not, like you are not going to stay in
Speaker 4: this job that you know is depleting you. But there's
Speaker 4: obviously a bigger picture in mind.
Speaker 2: Yeah.
Speaker 4: First, never quit a job before having another job, especially
Speaker 4: when you're in a risky situation. But then the second
Speaker 4: one is, let's embrace this concept of quiet quitting.
Speaker 2: Oh absolutely, Yeah's just.
Speaker 4: Start enforcing the fact that, oh, I have to leave early.
Speaker 2: You can lie like I'm going to let you lie.
Speaker 4: Yes, say that you've got appointment, Say you've taken up
Speaker 4: a hobby after work. Sorry, on Thursdays, I have to
Speaker 4: leave it five.
Speaker 2: Yes.
Speaker 5: And also start taking your sick days because they don't
Speaker 5: get paid out. Start taking them now.
Speaker 2: Yeah, and sick days.
Speaker 4: I think lots of people just go, I need to
Speaker 4: take a sick day because I have a really bad
Speaker 4: lou when I'm in bed. Your sick days cover your
Speaker 4: mental health, Like if you need to go, all right, well,
Speaker 4: I'm actually going to take a sick day today because
Speaker 4: I just need the space mentally, because I cannot return
Speaker 4: to the office on Monday without having an extra day
Speaker 4: this weekend.
Speaker 2: That is a sick day to me, and your doctor
Speaker 2: can give you a certificate to cover that.
Speaker 4: If that's quiet, Check your contract, like, this is me
Speaker 4: maybe not being a good Employees aren't going to like me,
Speaker 4: but I don't care.
Speaker 2: Check your contract.
Speaker 4: How often are they going to be asking for six certificates?
Speaker 4: Like obviously if they're going to ask, And this is
Speaker 4: not me saying abuse the policy, but sometimes companies are like, oh,
Speaker 4: any sick days need a six certificate. Some companies will say, oh,
Speaker 4: six certificates are required if you have more than three
Speaker 4: days off, so just know that as well, just so
Speaker 4: that you've got a little bit of flexibility, but using
Speaker 4: your sick days, asking for some more accommodations. Can you
Speaker 4: work from home? Can you do some stuff around that?
Speaker 4: Also just going oh sorry, I don't have the capacity
Speaker 4: for that, Like you can also just stand your ground
Speaker 4: a little bit more and it's quite hard to do,
Speaker 4: but saying oh, thanks so much for that work you've
Speaker 4: just allocated me. Beck, You know there's so much on
Speaker 4: my plate right now that you know with this additional thing,
Speaker 4: I'm not going to be able to do all of
Speaker 4: that this week. What ones did you want me to
Speaker 4: prioritize and just like starting to slowly push back and
Speaker 4: be like, oh, actually that's not feasible because I think
Speaker 4: in those cultures you just get a yes mentality.
Speaker 2: You go, oh, yep, no worries, Oh yep, no worries.
Speaker 2: But when are we pushing back? When are we saying, oh, actually,
Speaker 2: like which ones did you want me to prioritize because
Speaker 2: like there's actually not enough capacity, Yeah, you should have
Speaker 2: hired someone else. Totally, I will say, mentally prepare yourself.
Speaker 2: It goes one of two way with cultures like this.
Speaker 2: Either everyone resents it and you might find that when
Speaker 2: you start pushing back, other people start pushing back, or
Speaker 2: you might find that people are a little bit unkind
Speaker 2: about it. Yeah, so would say just be mentally prepared.
Speaker 2: That so true because yeah, if I think back to
Speaker 2: the job that I had where it was very much
Speaker 2: the norm, you know, when I wasn't willing to participate
Speaker 2: in those types of things. I was like, no, I'm
Speaker 2: not coming out to afterwork drinks because I don't really
Speaker 2: like you guys, and you can like the jive spent
Speaker 2: enough time working and whatever you know or whatever. It
Speaker 2: was like the reception was not like the nicest and
Speaker 2: like that's not your thought's reflective of them, not you,
Speaker 2: one hundred percent. It is, but it's just something I
Speaker 2: wanted to say because I think, like, if you're already
Speaker 2: not in a great space mentally facing, like additional adversity
Speaker 2: might make you feel a little bit shittier. But that's
Speaker 2: as exactly as you said, that's not on you, one
Speaker 2: hundred percent. Do we want to talk about what the
Speaker 2: community had to say still it? Yes, all right, So
Speaker 2: we asked the community what would you do if you
Speaker 2: were in this situation. Twelve percent of you said quit
Speaker 2: and prioritize mental health, twenty six percent said stay and
Speaker 2: set boundaries, thirty five percent said stick it out but
Speaker 2: start job hunting, and twenty seven percent said write it
Speaker 2: out until you get pr then reassess. It's quite a split.
Speaker 4: It is a split, but I feel like the split
Speaker 4: is really across like being a little bit more conservative
Speaker 4: than like quitting and focusing on mental health, which, as
Speaker 4: we all know, like that's a privileged to do in itself,
Speaker 4: Like not many people are in a position where you can.
Speaker 2: Go, oh, just quit my job.
Speaker 4: Yeah, Like I'm sorry, Like I wish that we were,
Speaker 4: And that's why we have emergency funds and stuff totally.
Speaker 2: We're going to build towards that.
Speaker 4: But I would say ninety nine percent of people can't
Speaker 4: just quit and prioritize their mental health. We have to
Speaker 4: have some strategies at play.
Speaker 2: Yeah.
Speaker 4: Next question we asked was, have you ever worked in
Speaker 4: a place where overworking was part of the culture.
Speaker 2: Surely it's like ninety nine percent of Yeah, sure, No,
Speaker 2: it's actually eighty one. Eighty one percent of people said yep,
Speaker 2: I definitely have. Isn't that so sad? So gross? I
Speaker 2: know thirteen percent of you said no, I haven't worked
Speaker 2: anywhere like that. You lucky ducks. Lucky. And six percent
Speaker 2: of you said I'm in that situation right now. Oh no,
Speaker 2: get out. Yeah. Then we said to the community, give
Speaker 2: us you two cents. First person said, this.
Speaker 4: Is two PARTA too PARTA trust me unless you have
Speaker 4: another PR pathway see an immigration lawyer.
Speaker 2: Wait until you have that visa.
Speaker 4: Enjoy your freedom once you can also enjoy the security
Speaker 4: of the PR.
Speaker 2: Yeah. Fair, True, it's true.
Speaker 4: Next person said, participating in free labor is what normalized?
Speaker 2: Does it stop immediately? True? Easier said than done.
Speaker 4: I know, I wish it wasn't, but it is. Next
Speaker 4: person said that was me. I quit and found another job.
Speaker 4: PR has taken longer, but it was worth my mental health.
Speaker 2: That's great to know that it's worked for someone. Yeah,
Speaker 2: but also I like that you found someone else that
Speaker 2: supported it as well. Yes.
Speaker 4: Next person said, experiencing work life balance post burnout is
Speaker 4: wholeheartedly the best thing.
Speaker 2: Ever. Another person said, as for me, I'm starting an
Speaker 2: online course and doing job hunting while I continue working there,
Speaker 2: So trying to upscale while they're looking for something different.
Speaker 2: That's a good idea.
Speaker 3: Yep.
Speaker 4: Another person said, the extra hours aren't worth it. There
Speaker 4: is no benefit for yourself, only for that company IG exactly.
Speaker 4: And then I'm just going to give you one more
Speaker 4: and it was her. I studied, I got a new job.
Speaker 4: It was so scary, but now couldn't be happier.
Speaker 2: Great light of the end of the tunnel so much
Speaker 2: and I feel like that's a really great place to
Speaker 2: leave it. Guys. What a week, What a new studio,
Speaker 2: what a vibe. I love it.
Speaker 4: We just sound better sitting on these couches. Yeah, I
Speaker 4: love it here all right, guys. I hope you have
Speaker 4: a really beautiful weekend and we will see you bright
Speaker 4: and early on Monday morning for our Money Diary till
Speaker 4: then bye bye bye. The advice shared on She's on
Speaker 4: the Money is generally nature and does.
Speaker 2: Not consider your individual circumstances.
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Speaker 4: financial decision.
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