1 00:00:00,200 --> 00:00:02,960 Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations 2 00:00:03,000 --> 00:00:08,559 Speaker 1: woman and I'm here to acknowledge country Tea. Glenn Young Ganya, Niana, 3 00:00:08,680 --> 00:00:11,920 Speaker 1: Kaka yah y and Binahwaka Nian our gay In Nimbini, 4 00:00:11,960 --> 00:00:16,920 Speaker 1: yakarum jar Dominyagumika Umaga, Ihowaka na Waman damon Immalan Bumba 5 00:00:16,960 --> 00:00:20,040 Speaker 1: bang gadaboma In and now in Waka Ghana on yakarum 6 00:00:20,120 --> 00:00:24,560 Speaker 1: jar WA's nadaa. Hello, beautiful friends, we gather on the 7 00:00:24,640 --> 00:00:27,960 Speaker 1: lands of the Aboriginal people. We thank acknowledge and respect 8 00:00:27,960 --> 00:00:30,880 Speaker 1: the Aboriginal people's land that we're gathering on today. Take 9 00:00:30,920 --> 00:00:33,919 Speaker 1: pleasure in all the land and respect all that you see. 10 00:00:34,600 --> 00:00:40,240 Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections, 11 00:00:40,960 --> 00:00:44,600 Speaker 1: bringing you the tools, knowledge and resources for you to thrive. 12 00:00:45,080 --> 00:00:46,839 Speaker 2: She's on the Money. 13 00:00:47,040 --> 00:00:49,280 Speaker 3: She's on the Money. 14 00:00:51,040 --> 00:00:53,840 Speaker 4: Hello, and welcome to She's on the Money, the podcast 15 00:00:53,840 --> 00:00:55,480 Speaker 4: that makes personal finance. 16 00:00:55,120 --> 00:00:57,360 Speaker 5: Fun is especially on Friday. 17 00:00:57,640 --> 00:00:59,440 Speaker 4: It is our favorite day of the week because we 18 00:00:59,480 --> 00:01:01,800 Speaker 4: get the tea together and we get to celebrate you 19 00:01:02,080 --> 00:01:05,120 Speaker 4: the incredible She's on the Money community, and yes. 20 00:01:05,000 --> 00:01:05,920 Speaker 5: You are hearing right. 21 00:01:06,040 --> 00:01:08,960 Speaker 4: It is Jess Ricky taking over today because unfortunately poor 22 00:01:09,040 --> 00:01:11,839 Speaker 4: Victoria is under the weather. Don't worry, though, we're keeping 23 00:01:11,840 --> 00:01:13,920 Speaker 4: to the usual format. I will still be sharing my 24 00:01:14,000 --> 00:01:16,559 Speaker 4: favorite money wins Beck's got some of her best broke 25 00:01:16,600 --> 00:01:18,840 Speaker 4: tips all ready to go, and then we'll be answering 26 00:01:18,880 --> 00:01:21,560 Speaker 4: a money dilemma, which this week is all about what 27 00:01:21,680 --> 00:01:23,960 Speaker 4: to do with a property which is currently an investment 28 00:01:24,040 --> 00:01:26,320 Speaker 4: if you don't want to be a landlord, and something 29 00:01:26,319 --> 00:01:28,200 Speaker 4: that you slid into our DMS about, which is whether 30 00:01:28,240 --> 00:01:30,520 Speaker 4: you should share your passwords with a partner. 31 00:01:30,840 --> 00:01:33,280 Speaker 5: Juicy Juicy sounds gorgeous, I know. 32 00:01:33,440 --> 00:01:35,800 Speaker 4: But before we get there, I have got a five 33 00:01:35,840 --> 00:01:40,200 Speaker 4: star review that came to us via slightly unusual avenue. Okay, truthfully, 34 00:01:40,240 --> 00:01:42,720 Speaker 4: we'll take what we can get. We're not picky. So 35 00:01:43,120 --> 00:01:45,920 Speaker 4: a beautiful community member messages and said she tried to 36 00:01:46,000 --> 00:01:48,160 Speaker 4: leave her review on Spotify and wouldn't let her comments, 37 00:01:48,200 --> 00:01:51,520 Speaker 4: so she's sent it through via Instagram. Oh lovely, thank you, So, 38 00:01:51,800 --> 00:01:54,400 Speaker 4: she said, I divorced my husband six years ago and 39 00:01:54,480 --> 00:01:57,320 Speaker 4: had to start from scratch. We'd been together for fourteen 40 00:01:57,360 --> 00:02:00,680 Speaker 4: years and everything was shared, including our friend and our 41 00:02:00,720 --> 00:02:03,120 Speaker 4: then six year old daughter. Over the last six years, 42 00:02:03,160 --> 00:02:05,320 Speaker 4: I have worked my butt off to give my daughter 43 00:02:05,440 --> 00:02:08,880 Speaker 4: everything she needs financially. But also, and more importantly, I've 44 00:02:08,919 --> 00:02:11,400 Speaker 4: built my confidence so I can role model being a 45 00:02:11,440 --> 00:02:14,600 Speaker 4: strong and independent woman to her. About four years ago, 46 00:02:14,639 --> 00:02:18,239 Speaker 4: I started to educate myself with books, podcasts, websites, articles, 47 00:02:18,240 --> 00:02:20,960 Speaker 4: and basically anything I could get my hands on regarding 48 00:02:20,960 --> 00:02:24,280 Speaker 4: financial literacy, and I am obsessed. I have an amazing 49 00:02:24,320 --> 00:02:26,160 Speaker 4: job that I love, no stress in my life and 50 00:02:26,200 --> 00:02:28,320 Speaker 4: no consumer debt. I'm back on track to pay off 51 00:02:28,320 --> 00:02:31,400 Speaker 4: my mortgage by fifty I'm massive up my SUPER contributions, 52 00:02:31,440 --> 00:02:35,200 Speaker 4: invest outside of Super, and I'm generally just loving myself sick. 53 00:02:35,639 --> 00:02:37,440 Speaker 4: Thank you for being a part of my kick ass 54 00:02:37,440 --> 00:02:40,600 Speaker 4: financial journey. I love your potty episodes. Ladies, You've got 55 00:02:40,600 --> 00:02:42,920 Speaker 4: the best vibe. My wishes that I can share my 56 00:02:43,000 --> 00:02:45,520 Speaker 4: financial journey with other women so they too can feel 57 00:02:45,520 --> 00:02:49,400 Speaker 4: inspired and build confidence because money can reduce stress enormously. 58 00:02:49,680 --> 00:02:52,560 Speaker 6: Oh my god, that is not so beautiful, so cool. 59 00:02:52,680 --> 00:02:55,640 Speaker 6: That is so impressive and good for you. That's so cool. 60 00:02:55,800 --> 00:02:57,680 Speaker 4: What a laundry list of things that you're doing as well. 61 00:02:57,760 --> 00:03:01,040 Speaker 5: That's so amazing. That's great. I do worry about that 62 00:03:01,080 --> 00:03:01,440 Speaker 5: kind of thing. 63 00:03:01,480 --> 00:03:04,160 Speaker 6: So I'm like, Okay, you know, I'm not even considering 64 00:03:04,240 --> 00:03:08,280 Speaker 6: some people have children, some people have shared finances, divorce. 65 00:03:08,480 --> 00:03:11,679 Speaker 6: There are so many different walks of life out there 66 00:03:11,720 --> 00:03:14,400 Speaker 6: that I'm like, does this advice apply to everyone? And 67 00:03:14,919 --> 00:03:17,919 Speaker 6: I'm sure it doesn't for every situation, but it's really 68 00:03:18,000 --> 00:03:18,760 Speaker 6: competing to hear. 69 00:03:19,080 --> 00:03:22,320 Speaker 4: Yeah, And it's incredible that you're modeling that behavior, that determination. 70 00:03:22,520 --> 00:03:23,840 Speaker 4: I think for your daughter it will be just so 71 00:03:23,960 --> 00:03:25,200 Speaker 4: wonderful for her to grap around. 72 00:03:25,320 --> 00:03:27,760 Speaker 5: Really really cool. Good on you. 73 00:03:28,120 --> 00:03:30,840 Speaker 4: Absolutely. Now I do have a very fun question again, 74 00:03:30,680 --> 00:03:32,440 Speaker 4: I always do. I love this part. 75 00:03:32,520 --> 00:03:33,360 Speaker 5: It's so fun. 76 00:03:33,760 --> 00:03:35,320 Speaker 4: You can ask us anything. You can drop it in 77 00:03:35,400 --> 00:03:37,680 Speaker 4: the comments on Spotify, you can dam it to us. 78 00:03:37,800 --> 00:03:39,400 Speaker 4: I think we put a threat in the Facebook group. 79 00:03:39,840 --> 00:03:41,440 Speaker 4: However you would like to ask, but it can be 80 00:03:41,440 --> 00:03:43,600 Speaker 4: about anything and we will answer it right here live 81 00:03:43,640 --> 00:03:46,160 Speaker 4: on the show. This week's question comes from Madison. She 82 00:03:46,200 --> 00:03:48,560 Speaker 4: wants to know what's your go to dinner when you 83 00:03:48,560 --> 00:03:49,640 Speaker 4: can't be bothered cooking? 84 00:03:49,840 --> 00:03:51,000 Speaker 5: Great question. 85 00:03:51,560 --> 00:03:57,160 Speaker 4: I have five fried eggs or that's very specific with 86 00:03:57,240 --> 00:03:57,760 Speaker 4: anything else. 87 00:03:57,800 --> 00:03:58,800 Speaker 5: Will just the egg just. 88 00:03:59,080 --> 00:04:01,920 Speaker 6: The eggs, and I don't cook them all the way, 89 00:04:02,080 --> 00:04:03,960 Speaker 6: you know, like a runny like a runny egg. 90 00:04:04,280 --> 00:04:05,720 Speaker 5: But you don't have toasts to dip in it. 91 00:04:05,880 --> 00:04:08,760 Speaker 6: No, because it's quick and it's easy, and I don't 92 00:04:09,000 --> 00:04:12,760 Speaker 6: like the toast takes a long time, the egg in 93 00:04:12,800 --> 00:04:13,800 Speaker 6: and out, you know what I mean. 94 00:04:14,040 --> 00:04:15,880 Speaker 4: I fear that in the time it takes to cook 95 00:04:15,920 --> 00:04:20,520 Speaker 4: you to cook five eggs, you could arguably cook some. Yeah. 96 00:04:20,520 --> 00:04:22,719 Speaker 5: True, actually, but it's also theme of the mess. Yeah, 97 00:04:22,760 --> 00:04:23,320 Speaker 5: that it makes. 98 00:04:23,360 --> 00:04:24,880 Speaker 6: I don't want any mess. I don't want a single 99 00:04:24,920 --> 00:04:26,680 Speaker 6: bit of mess. Or I just go literally the serbo 100 00:04:27,000 --> 00:04:29,279 Speaker 6: and get a protein chake and that's it. But if 101 00:04:29,279 --> 00:04:31,440 Speaker 6: I have to cook it home, five fried eggs and 102 00:04:32,120 --> 00:04:35,080 Speaker 6: so much oil, and then it just slices right out 103 00:04:35,320 --> 00:04:36,799 Speaker 6: and there's barely anything to clean. 104 00:04:36,880 --> 00:04:37,599 Speaker 5: You are so funny. 105 00:04:37,640 --> 00:04:40,120 Speaker 4: You're giving gaston if anyone knows what I'm talking about there, 106 00:04:40,160 --> 00:04:43,719 Speaker 4: that's hilarious, all about you. Micro to is we always 107 00:04:43,760 --> 00:04:46,960 Speaker 4: have in our freezer. I think it's Staggles. It's you 108 00:04:47,040 --> 00:04:50,000 Speaker 4: know how those two frozen chicken brands standing. I don't 109 00:04:50,000 --> 00:04:51,160 Speaker 4: know which one it is, it's one of the two. 110 00:04:51,240 --> 00:04:53,880 Speaker 4: They do these temporary chicken little bites. They like the 111 00:04:54,000 --> 00:04:57,520 Speaker 4: chicken popcorn btes, and so I'll do rice the chicken 112 00:04:57,520 --> 00:04:59,440 Speaker 4: popcorn btes because you just chuck the me in the 113 00:04:59,440 --> 00:05:01,359 Speaker 4: air fray. I got my check on the air fryer. 114 00:05:01,640 --> 00:05:04,640 Speaker 4: Boil up some at a marmaie because we just always 115 00:05:04,640 --> 00:05:06,480 Speaker 4: have it in the freezer, and then I just make 116 00:05:06,560 --> 00:05:09,440 Speaker 4: a little sweet sesame sweet sauce. It all up to 117 00:05:09,520 --> 00:05:12,080 Speaker 4: do everything because I put the rice in a microwave 118 00:05:12,200 --> 00:05:15,440 Speaker 4: ice cooker, the chicken goes in the air fryer, the 119 00:05:15,680 --> 00:05:17,600 Speaker 4: at a marmaid just goes in a boiling pot of water, 120 00:05:18,200 --> 00:05:20,200 Speaker 4: and then for the sauce, you just stir it in 121 00:05:20,200 --> 00:05:22,520 Speaker 4: a pan. So all of that takes like five minutes. 122 00:05:23,440 --> 00:05:25,200 Speaker 4: It's really quick and easy. But it's actually I feel 123 00:05:25,240 --> 00:05:26,680 Speaker 4: like it's kind of giving like a little bit of 124 00:05:26,720 --> 00:05:27,560 Speaker 4: nutritional value. 125 00:05:28,080 --> 00:05:31,000 Speaker 5: It's very speedy, but is it like four different things 126 00:05:31,000 --> 00:05:31,440 Speaker 5: to using? 127 00:05:32,839 --> 00:05:35,839 Speaker 4: But like to me, that's so easy when I can't 128 00:05:35,839 --> 00:05:37,839 Speaker 4: be bother cooking like that, I'm like, that's enough to 129 00:05:38,080 --> 00:05:41,360 Speaker 4: make me feel full and fed. Yes, but it's I 130 00:05:41,360 --> 00:05:43,960 Speaker 4: don't have to think about anything, you know, Yes, Okay, 131 00:05:44,000 --> 00:05:47,800 Speaker 4: I under different takes. What that looks like? 132 00:05:48,200 --> 00:05:51,839 Speaker 5: I'm thinking one wonder hilarious. Okay, you got you got you? 133 00:05:52,080 --> 00:05:52,919 Speaker 5: That's a great question. 134 00:05:53,000 --> 00:05:53,400 Speaker 6: Thank you. 135 00:05:53,520 --> 00:05:55,320 Speaker 4: I love it if you've got one leaving in the comments, 136 00:05:55,320 --> 00:05:57,039 Speaker 4: because I would argue that the random question is one 137 00:05:57,080 --> 00:05:57,800 Speaker 4: of my favorite parts. 138 00:05:57,839 --> 00:06:00,359 Speaker 5: Oh I love getting to do it. Same I do. 139 00:06:00,480 --> 00:06:02,719 Speaker 4: Also, I have to say love doing my money wins 140 00:06:02,720 --> 00:06:04,839 Speaker 4: and confessions. I've got some to share with you this week, 141 00:06:04,839 --> 00:06:05,480 Speaker 4: if I may. 142 00:06:05,520 --> 00:06:07,400 Speaker 5: Of course, please thank you so much. 143 00:06:07,920 --> 00:06:10,520 Speaker 4: Firstly, this week I have a money win from Tina 144 00:06:10,560 --> 00:06:13,279 Speaker 4: who said money win. Our car brokedown and our mechanic 145 00:06:13,360 --> 00:06:16,200 Speaker 4: recommended taking it to Toyota as the fault code was 146 00:06:16,240 --> 00:06:18,920 Speaker 4: a known fault and Toyota would possibly fix it through 147 00:06:18,960 --> 00:06:21,680 Speaker 4: goodwill if I insisted. Two and a half weeks later, 148 00:06:21,760 --> 00:06:24,800 Speaker 4: and I've gotten my car back with over twelve thousand 149 00:06:24,880 --> 00:06:27,800 Speaker 4: dollars worth of repairs completed with no out of pocket 150 00:06:27,800 --> 00:06:30,440 Speaker 4: expenses to us. The mechanic could have just told us 151 00:06:30,440 --> 00:06:32,640 Speaker 4: that we needed the expensive repairs and made the money 152 00:06:32,640 --> 00:06:35,240 Speaker 4: for himself, but instead he was really kind and helpful. 153 00:06:35,360 --> 00:06:36,840 Speaker 5: Oh my god, I feel like. 154 00:06:37,480 --> 00:06:39,159 Speaker 4: In my mind always trying to wroart you for every 155 00:06:39,160 --> 00:06:41,080 Speaker 4: dollar you've got really a good one. 156 00:06:41,480 --> 00:06:42,080 Speaker 3: So you just got to. 157 00:06:42,160 --> 00:06:44,120 Speaker 4: Insist, did you see him for life? 158 00:06:44,279 --> 00:06:45,760 Speaker 5: Okay? Good jo. 159 00:06:46,800 --> 00:06:49,880 Speaker 4: I'm going to insist if it's a non mechanical fault, 160 00:06:49,880 --> 00:06:57,120 Speaker 4: not just if something to throw the cartain's. 161 00:06:54,120 --> 00:06:57,599 Speaker 5: Important, that's important. I see, Oh my god, it's incredible. Next, 162 00:06:57,640 --> 00:06:58,840 Speaker 5: I've got a money win from Lana. 163 00:06:58,880 --> 00:07:00,760 Speaker 4: He said she found out they were paying GST for 164 00:07:00,800 --> 00:07:04,400 Speaker 4: something that was not in fact GST registered, so they 165 00:07:04,480 --> 00:07:07,440 Speaker 4: now owed a refund of about eight thousand dollars. H 166 00:07:07,720 --> 00:07:09,479 Speaker 4: just a reminder GST is not something you can just 167 00:07:09,480 --> 00:07:11,360 Speaker 4: throw on an invoice. 168 00:07:10,960 --> 00:07:22,040 Speaker 3: If you're not closed, very confinused, die very much. 169 00:07:23,960 --> 00:07:26,240 Speaker 4: Next, I've got a money in from Peach, who said, 170 00:07:26,240 --> 00:07:29,360 Speaker 4: money win, completed my ten thousand points for my Flybys 171 00:07:29,360 --> 00:07:31,840 Speaker 4: shop four weeks in a row, one of those challenges 172 00:07:31,840 --> 00:07:34,160 Speaker 4: that you do across the month, and that's fifty dollars 173 00:07:34,240 --> 00:07:37,360 Speaker 4: worth of points that she'll stash away for Christmas. Then 174 00:07:37,360 --> 00:07:39,720 Speaker 4: I've got a money in from medi who said I 175 00:07:39,800 --> 00:07:42,560 Speaker 4: subscribed my partner to Ko Sports so I could watch 176 00:07:42,560 --> 00:07:44,600 Speaker 4: the cricket for a dollar a month. Otherwise it would 177 00:07:44,640 --> 00:07:47,560 Speaker 4: have cost me thirty bucks. Sneaky, but definitely a money win. 178 00:07:47,640 --> 00:07:51,600 Speaker 4: I'm assumeing they had previously had got a subtription in 179 00:07:51,680 --> 00:07:54,840 Speaker 4: another email. So using those of you know people around you, 180 00:07:54,920 --> 00:07:57,640 Speaker 4: or perhaps you're very embarrassing hotmail email that you made 181 00:07:57,920 --> 00:07:59,840 Speaker 4: fifteen years ago when you were in high school would 182 00:07:59,840 --> 00:08:02,840 Speaker 4: also do the job. I'm like god gob Lastly, this week, 183 00:08:02,880 --> 00:08:05,200 Speaker 4: I have a money win from Sarch who said I 184 00:08:05,240 --> 00:08:07,400 Speaker 4: did a survey. It was so fun, it didn't take 185 00:08:07,480 --> 00:08:10,320 Speaker 4: long and I won five dollars. It's an important win 186 00:08:10,400 --> 00:08:12,880 Speaker 4: because every single dollar counts. 187 00:08:12,640 --> 00:08:16,040 Speaker 5: And I called you, Oh my goodness, we'll done. Everybody, 188 00:08:16,120 --> 00:08:18,440 Speaker 5: well done. Guys. Have you had some break tips for 189 00:08:18,520 --> 00:08:21,400 Speaker 5: us this week to share as well? I might certainly do. 190 00:08:21,800 --> 00:08:23,560 Speaker 4: I live in constant fear of the day I say 191 00:08:23,560 --> 00:08:25,320 Speaker 4: that and you just go, oh, actually, no, we're not 192 00:08:25,400 --> 00:08:26,040 Speaker 4: doing it this day. 193 00:08:26,160 --> 00:08:27,560 Speaker 3: I feel like an idiot. 194 00:08:27,880 --> 00:08:29,120 Speaker 5: I live in constant fear. 195 00:08:29,000 --> 00:08:31,560 Speaker 6: Of that too, because it is hard, you guys, it 196 00:08:31,640 --> 00:08:35,360 Speaker 6: is hard to for my producer to find broadtip for me. 197 00:08:35,679 --> 00:08:37,440 Speaker 4: If you've got a breake tip, we put a thread 198 00:08:37,440 --> 00:08:39,880 Speaker 4: in our Facebook group every single week. If you're not 199 00:08:39,920 --> 00:08:42,520 Speaker 4: in the Facebook group, shameless plug. All the good stuff 200 00:08:42,559 --> 00:08:44,720 Speaker 4: goes in there, so that's where I pull the money 201 00:08:44,720 --> 00:08:46,600 Speaker 4: wins from. That gets her broake tips there as well. 202 00:08:46,679 --> 00:08:48,440 Speaker 4: So if you use the search bar, you can find 203 00:08:48,440 --> 00:08:49,280 Speaker 4: the relevant thread. 204 00:08:49,360 --> 00:08:50,840 Speaker 5: We'd love to share your best. 205 00:08:50,640 --> 00:08:55,079 Speaker 6: Ideas please, so This first one comes from Jim, who says, 206 00:08:55,240 --> 00:08:58,480 Speaker 6: every school holidays, I buy a month of different streaming 207 00:08:58,520 --> 00:09:02,120 Speaker 6: services and my kids enjoy watching new shows and movies 208 00:09:02,280 --> 00:09:04,800 Speaker 6: for under twenty dollars for the month. That's so good, 209 00:09:05,080 --> 00:09:07,520 Speaker 6: it's so worth it when you compare it to trips 210 00:09:07,520 --> 00:09:08,960 Speaker 6: to the cinema or buying new movies. 211 00:09:09,000 --> 00:09:12,079 Speaker 5: That's so Truely, I like that one. That is really clever. 212 00:09:12,360 --> 00:09:14,040 Speaker 5: Do a little popcorn at home. 213 00:09:14,240 --> 00:09:15,719 Speaker 6: Totally, and a lot of them you can just get, 214 00:09:15,720 --> 00:09:18,199 Speaker 6: like just make a new email, get a free trial 215 00:09:18,280 --> 00:09:18,760 Speaker 6: sort of thing. 216 00:09:19,280 --> 00:09:20,680 Speaker 5: Clever, very clever, Thank you, Jim. 217 00:09:20,960 --> 00:09:23,600 Speaker 6: The next one comes from Alana, who says, look at 218 00:09:23,640 --> 00:09:27,320 Speaker 6: what food fruit, slash, veg scraps you can plant to 219 00:09:27,840 --> 00:09:31,880 Speaker 6: regrow so you get free food, lettuce, herbs, onions. 220 00:09:32,200 --> 00:09:34,840 Speaker 5: Some are harder than others to keep alive, but so 221 00:09:35,080 --> 00:09:37,040 Speaker 5: worth it. That is so true. 222 00:09:37,320 --> 00:09:39,600 Speaker 4: Turns out if you leave some things too just for 223 00:09:39,679 --> 00:09:42,640 Speaker 4: long enough, like potatoes and garlic, no, just grow things 224 00:09:42,679 --> 00:09:44,120 Speaker 4: all by themselves. 225 00:09:43,600 --> 00:09:49,360 Speaker 5: Totally straight in the pot they can go. All you 226 00:09:49,400 --> 00:09:54,040 Speaker 5: have to do is neglect and you've got a whole meal. 227 00:09:56,040 --> 00:09:59,040 Speaker 6: Okay, So my one and some one's definitely from me 228 00:09:59,160 --> 00:10:03,000 Speaker 6: and not ap producer. But she says, Oh, I say, 229 00:10:03,200 --> 00:10:06,679 Speaker 6: if you're looking for childcare but don't need long days, 230 00:10:06,960 --> 00:10:09,239 Speaker 6: have a search for occasional care options. 231 00:10:09,600 --> 00:10:12,520 Speaker 5: She uses one at her local community center, or I 232 00:10:12,600 --> 00:10:15,000 Speaker 5: use one at my local community center. 233 00:10:15,480 --> 00:10:17,480 Speaker 6: She doesn't need a full day, and get six hours 234 00:10:17,480 --> 00:10:20,400 Speaker 6: of daycare for seventeen dollars after the childcare subsidy. 235 00:10:20,559 --> 00:10:21,680 Speaker 5: Oh my god, take. 236 00:10:21,520 --> 00:10:24,800 Speaker 4: A bargain from everything that we've heard about how childcare is. 237 00:10:24,840 --> 00:10:25,920 Speaker 4: That sounds like a great tip. 238 00:10:26,000 --> 00:10:26,679 Speaker 5: That's so good. 239 00:10:26,720 --> 00:10:28,360 Speaker 6: I feel like you could just do that, even if 240 00:10:28,400 --> 00:10:30,120 Speaker 6: you're like, I just got to have a big nap, 241 00:10:30,240 --> 00:10:31,840 Speaker 6: you know, so clever, fat. 242 00:10:31,760 --> 00:10:34,800 Speaker 5: Nap, A big, fat nap. I'm going to take my 243 00:10:34,920 --> 00:10:38,120 Speaker 5: child's daycare six hours. That's so clever. So thank you 244 00:10:38,160 --> 00:10:40,560 Speaker 5: so much to myself and GM, our producer. 245 00:10:41,600 --> 00:10:43,960 Speaker 4: And now we have that wonderful evidence of exactly why 246 00:10:43,960 --> 00:10:46,079 Speaker 4: we're not a parenting podcast. I think let's go to 247 00:10:46,160 --> 00:10:48,199 Speaker 4: a really quick break. When we come back, we go 248 00:10:48,280 --> 00:10:50,840 Speaker 4: to chat through all sorts of fun things, including what 249 00:10:50,880 --> 00:10:52,800 Speaker 4: you should do if you've got an investment property but 250 00:10:52,840 --> 00:10:55,240 Speaker 4: you don't actually want to be a landlord, and whether 251 00:10:55,280 --> 00:10:58,360 Speaker 4: you should share your passwords with your partner. Don't go anywhere. 252 00:11:01,559 --> 00:11:05,679 Speaker 5: Welcome back everyone. Here's this week's money dilemma. 253 00:11:05,880 --> 00:11:08,240 Speaker 7: Hi, there, have you got a money dilemma you just 254 00:11:08,280 --> 00:11:10,800 Speaker 7: can't solve That She's on the Money team is here 255 00:11:10,840 --> 00:11:14,080 Speaker 7: to help. Every week we tackle your dilemmas, both big 256 00:11:14,120 --> 00:11:16,840 Speaker 7: and small, to answer your most burning money, career and 257 00:11:16,920 --> 00:11:20,080 Speaker 7: life questions. To get involved, simply head to our website 258 00:11:20,120 --> 00:11:22,240 Speaker 7: and leave us a short voice recording and you might 259 00:11:22,320 --> 00:11:24,840 Speaker 7: just find yourself on the show. Now, let's take a 260 00:11:24,880 --> 00:11:28,640 Speaker 7: listen to this week's money dilemma. 261 00:11:29,400 --> 00:11:31,840 Speaker 2: Hi, She's on the Money. I moved in with my 262 00:11:31,920 --> 00:11:35,360 Speaker 2: partner about two and a half years ago. I had 263 00:11:35,440 --> 00:11:39,200 Speaker 2: a two bedroom flat which I rented out. When I 264 00:11:39,360 --> 00:11:43,840 Speaker 2: moved in with him, we will get a contracting out agreement, 265 00:11:44,160 --> 00:11:47,640 Speaker 2: which means the house we're currently living in is completely 266 00:11:47,679 --> 00:11:50,560 Speaker 2: in his name, so I have no financial interest in it. 267 00:11:50,600 --> 00:11:53,240 Speaker 2: And that's fine because I don't contribute to any of 268 00:11:53,280 --> 00:11:56,680 Speaker 2: the costs. I've kept my place as an investment property 269 00:11:56,679 --> 00:11:59,160 Speaker 2: because we all know a man is not a financial 270 00:11:59,200 --> 00:12:01,520 Speaker 2: plan and I need to back up in case things 271 00:12:01,520 --> 00:12:05,240 Speaker 2: starting to work out. However, I'm quite sick of being 272 00:12:05,280 --> 00:12:07,760 Speaker 2: a landlord. To be honest, I don't like the extra 273 00:12:07,840 --> 00:12:12,160 Speaker 2: admin it brings, but I do want a safety net. 274 00:12:12,520 --> 00:12:14,760 Speaker 2: I'm thinking of selling it. I will make a decent 275 00:12:14,840 --> 00:12:17,240 Speaker 2: profit and I can put that in a high growth 276 00:12:17,240 --> 00:12:20,560 Speaker 2: investment fund for my future. However, I am worried on 277 00:12:20,600 --> 00:12:22,880 Speaker 2: the off chance we do break up, I won't have 278 00:12:23,000 --> 00:12:25,640 Speaker 2: enough of a deposit to buy my own place again. 279 00:12:26,200 --> 00:12:29,200 Speaker 2: If you could help me, that would be great. Thank you. 280 00:12:29,480 --> 00:12:31,560 Speaker 4: Firstly, round for applause. A man is not a financial 281 00:12:31,720 --> 00:12:37,040 Speaker 4: plan ABS. So we're sitting here silently snappy. Yes, absolutely, 282 00:12:38,040 --> 00:12:42,760 Speaker 4: I think that you're absolutely right, like having some kind 283 00:12:42,800 --> 00:12:44,920 Speaker 4: of safety net is really important. We obviously don't know 284 00:12:44,960 --> 00:12:47,600 Speaker 4: what your financial position is when it comes to this property. 285 00:12:47,640 --> 00:12:50,200 Speaker 4: Is it positively geared? Is it negatively geared? So are 286 00:12:50,240 --> 00:12:52,680 Speaker 4: you earning profits on it? Or are you paying a gap? 287 00:12:52,840 --> 00:12:55,360 Speaker 4: If you sell it, will you be making a profit. 288 00:12:55,440 --> 00:12:57,240 Speaker 4: There's lots of things that factor in it. Because if 289 00:12:57,240 --> 00:12:59,599 Speaker 4: you were to sell your property, totally understand that you 290 00:12:59,640 --> 00:13:00,880 Speaker 4: don't want to be landlord. I think a lot of 291 00:13:00,880 --> 00:13:03,800 Speaker 4: people probably get into that position where they think it's 292 00:13:03,840 --> 00:13:05,840 Speaker 4: going to be fantastic. We hear a lot of times 293 00:13:05,840 --> 00:13:07,439 Speaker 4: people saying, Oh, I wanted to be a landlord, but 294 00:13:07,440 --> 00:13:09,280 Speaker 4: I'm paying all this extra money. It's all this extra work, 295 00:13:09,320 --> 00:13:11,600 Speaker 4: and it's like that is unfortunately kind of what you 296 00:13:11,640 --> 00:13:13,960 Speaker 4: signed up for. So it's I don't think it's uncommon 297 00:13:14,080 --> 00:13:16,880 Speaker 4: to find yourself in that position. And obviously for our 298 00:13:16,880 --> 00:13:19,240 Speaker 4: listener it's started off, as you know, a primary place 299 00:13:19,240 --> 00:13:22,240 Speaker 4: of residence and now her situation has changed. I think 300 00:13:22,320 --> 00:13:25,160 Speaker 4: that doing the maths and seeing if you were to sell, 301 00:13:25,520 --> 00:13:28,160 Speaker 4: would you make a profit is important because if so, 302 00:13:28,960 --> 00:13:32,439 Speaker 4: then theoretically that profit could become a deposit in future 303 00:13:32,520 --> 00:13:34,960 Speaker 4: should you ever need it. It would be totally up 304 00:13:35,000 --> 00:13:36,920 Speaker 4: to you, and you know, we really can't look from 305 00:13:36,960 --> 00:13:38,760 Speaker 4: the outside in and say how likely it is that 306 00:13:38,800 --> 00:13:41,040 Speaker 4: you'll need that. But you could then choose to invest 307 00:13:41,120 --> 00:13:43,640 Speaker 4: that excess money. You could keep it aside an emergency 308 00:13:43,679 --> 00:13:45,200 Speaker 4: man you can put it in a high end savings account. 309 00:13:45,240 --> 00:13:49,320 Speaker 4: There's lots of different options. But I would say also, 310 00:13:49,400 --> 00:13:51,520 Speaker 4: if you haven't looked into it, if the admin is 311 00:13:51,559 --> 00:13:53,960 Speaker 4: what's overwhelming you, you could look at getting a property manager. 312 00:13:54,000 --> 00:13:56,240 Speaker 4: You don't have to manage that property directly. You can 313 00:13:56,320 --> 00:13:57,199 Speaker 4: pay somebody else to. 314 00:13:57,160 --> 00:13:57,839 Speaker 5: Do that for you. 315 00:13:58,480 --> 00:14:00,240 Speaker 4: I've never been a landlord, so I don't know what 316 00:14:00,360 --> 00:14:03,600 Speaker 4: kind of difference that makes in terms of how hands 317 00:14:03,679 --> 00:14:05,560 Speaker 4: or a hands off you have to be as a renter. 318 00:14:05,720 --> 00:14:08,200 Speaker 4: I know I've had some really shitty property managers, so 319 00:14:08,760 --> 00:14:11,080 Speaker 4: it could go either way on that one, but it 320 00:14:11,160 --> 00:14:13,680 Speaker 4: is an option that's available to you. I think it 321 00:14:13,760 --> 00:14:15,600 Speaker 4: is really important, and it is really fantastic that you're 322 00:14:15,600 --> 00:14:18,280 Speaker 4: thinking about having a backup plan in place, because you 323 00:14:18,280 --> 00:14:21,000 Speaker 4: truly just never know what the future could hold. But 324 00:14:21,120 --> 00:14:23,160 Speaker 4: as to where you put that money, there are a 325 00:14:23,240 --> 00:14:25,360 Speaker 4: number of different options, and I think for me it 326 00:14:25,400 --> 00:14:28,280 Speaker 4: would really come down to just running the math on 327 00:14:28,400 --> 00:14:31,400 Speaker 4: everything and figuring out what that looks like. Could you 328 00:14:31,440 --> 00:14:33,880 Speaker 4: maybe invest some of the profit and not all of 329 00:14:33,920 --> 00:14:36,440 Speaker 4: it if you haven't had one done recently, I would 330 00:14:36,440 --> 00:14:38,840 Speaker 4: have your property value assessed to give you a bit 331 00:14:38,880 --> 00:14:40,400 Speaker 4: of an idea of what that might look like. Or 332 00:14:40,440 --> 00:14:42,600 Speaker 4: you could have an agent come through and give you 333 00:14:42,640 --> 00:14:44,880 Speaker 4: their thoughts. Keep in mind sometimes they do blow a 334 00:14:44,880 --> 00:14:47,480 Speaker 4: bit of smoke because they're trying to secure, you know, 335 00:14:47,880 --> 00:14:50,680 Speaker 4: the rights to sell the property. Having an idea of 336 00:14:50,760 --> 00:14:52,920 Speaker 4: what that all looks like will hopefully give you a 337 00:14:52,960 --> 00:14:54,760 Speaker 4: bit of clarity on how much of a buffer you 338 00:14:54,800 --> 00:14:56,760 Speaker 4: may or may not have if you did choose to 339 00:14:56,800 --> 00:14:58,840 Speaker 4: sell and step away from that, yes, because I also 340 00:14:58,880 --> 00:15:01,000 Speaker 4: think I want to say, there's definitely no shame in 341 00:15:01,080 --> 00:15:03,760 Speaker 4: choosing to step away from what you once thought was 342 00:15:03,800 --> 00:15:06,880 Speaker 4: like the right path forward, because I yeah, I think 343 00:15:06,880 --> 00:15:10,240 Speaker 4: that you've got to do whatever's right for you. And yeah, 344 00:15:10,240 --> 00:15:12,440 Speaker 4: there are a bunch of different options available, but that's 345 00:15:12,440 --> 00:15:13,160 Speaker 4: what I would kind. 346 00:15:13,040 --> 00:15:16,120 Speaker 5: Of consider true. I also am wondering. 347 00:15:16,200 --> 00:15:18,880 Speaker 6: I don't know what the process is or if this 348 00:15:19,000 --> 00:15:21,680 Speaker 6: is any different to having a property manager, but I 349 00:15:21,760 --> 00:15:25,600 Speaker 6: know that in Sydney, for example, if you own house 350 00:15:25,680 --> 00:15:30,560 Speaker 6: and you let the council or community or government use 351 00:15:30,600 --> 00:15:33,760 Speaker 6: it as a housing house, I know it's different. In 352 00:15:33,760 --> 00:15:37,120 Speaker 6: Melbourne there's like there's like housing blocks, but in Sydney 353 00:15:37,120 --> 00:15:39,360 Speaker 6: they were just like random houses or apartments or villas 354 00:15:39,400 --> 00:15:42,480 Speaker 6: or whatever that someone actually owns, The landlord owns it, 355 00:15:42,760 --> 00:15:46,160 Speaker 6: but the council or the community or the government is 356 00:15:46,240 --> 00:15:49,520 Speaker 6: using that as a council housing or community housing spot. 357 00:15:50,000 --> 00:15:54,120 Speaker 6: And I feel like in that situation, just from watching 358 00:15:54,160 --> 00:15:58,560 Speaker 6: my mum kind of like talk to the landlord or 359 00:15:58,560 --> 00:16:00,640 Speaker 6: property manager or whatever, I feel like the landlord is 360 00:16:00,720 --> 00:16:03,080 Speaker 6: quite hands off in that scenario. I don't think I 361 00:16:03,200 --> 00:16:05,760 Speaker 6: ever heard no hide nor hear from the landlord. 362 00:16:05,960 --> 00:16:06,880 Speaker 5: Yeah, so I'm like. 363 00:16:07,840 --> 00:16:11,360 Speaker 4: Takes on the responsibility like a department or something. 364 00:16:11,520 --> 00:16:12,080 Speaker 5: There must be. 365 00:16:12,040 --> 00:16:15,560 Speaker 6: Some benefits to doing that, because like, first of all, 366 00:16:16,080 --> 00:16:17,800 Speaker 6: I feel like I would like to do that because 367 00:16:17,840 --> 00:16:19,920 Speaker 6: it's like, oh, you know, I'm doing something good and 368 00:16:20,040 --> 00:16:22,120 Speaker 6: we don't want any empty houses. It's like a you know, 369 00:16:22,480 --> 00:16:24,880 Speaker 6: housing crisis. But you also kind of like get more 370 00:16:24,920 --> 00:16:26,680 Speaker 6: of a hands off approach. And I think it depends 371 00:16:26,680 --> 00:16:29,080 Speaker 6: on the council that you're doing that with, or the 372 00:16:29,640 --> 00:16:31,640 Speaker 6: state you're in, or in all those kind of things. 373 00:16:31,680 --> 00:16:32,920 Speaker 6: I would have a look into that because I feel 374 00:16:32,920 --> 00:16:35,400 Speaker 6: like that that is like a really nice middle ground. 375 00:16:35,400 --> 00:16:36,640 Speaker 6: It could be a nice middle ground we will like 376 00:16:37,280 --> 00:16:39,640 Speaker 6: that's all. You can be completely hands off and you're 377 00:16:39,640 --> 00:16:42,520 Speaker 6: also doing something really good. So that is another option. 378 00:16:42,760 --> 00:16:46,320 Speaker 6: But other than that, I think, yeah, it is good 379 00:16:46,320 --> 00:16:49,000 Speaker 6: to have a security blanket and a safety net, I guess. 380 00:16:49,040 --> 00:16:51,920 Speaker 6: But I think if you just had the money and 381 00:16:51,960 --> 00:16:52,440 Speaker 6: you had it. 382 00:16:52,400 --> 00:16:55,480 Speaker 5: Like invested or you had it in a high interest. 383 00:16:55,240 --> 00:16:57,320 Speaker 6: Savings account, I feel like that's like, you know, it's 384 00:16:57,320 --> 00:16:58,200 Speaker 6: a big chunk of money. 385 00:16:58,280 --> 00:16:59,720 Speaker 5: I think it's for me. 386 00:17:00,520 --> 00:17:02,320 Speaker 6: It's not advice, but I think that for me that 387 00:17:02,360 --> 00:17:04,800 Speaker 6: would be plenty for a safety blanket. But if you 388 00:17:04,840 --> 00:17:06,719 Speaker 6: just want to keep the house and kind of not 389 00:17:06,800 --> 00:17:09,720 Speaker 6: do all that admin, can you like rent it out 390 00:17:09,760 --> 00:17:13,159 Speaker 6: too privately to like a friend or a family member. 391 00:17:13,600 --> 00:17:16,040 Speaker 6: You're like, hey, you can have cheaper rent, but you 392 00:17:16,119 --> 00:17:18,239 Speaker 6: got to do all the repairs yourself or something like that. 393 00:17:18,320 --> 00:17:20,000 Speaker 6: Kind of find a way where it's like a little 394 00:17:20,000 --> 00:17:21,959 Speaker 6: more private, you don't have to do too much. They 395 00:17:22,000 --> 00:17:24,440 Speaker 6: can take on all of it and they just pay 396 00:17:24,480 --> 00:17:26,800 Speaker 6: you rent every week or month or whatever it is. 397 00:17:27,160 --> 00:17:29,879 Speaker 6: Is another option, but all it was is proud of 398 00:17:29,880 --> 00:17:31,880 Speaker 6: you and yes, man, is not a financial plan. 399 00:17:32,240 --> 00:17:34,639 Speaker 5: Keep that mindset and you're going to be just fine. 400 00:17:34,800 --> 00:17:37,600 Speaker 4: Yeah, you're right, Like you wouldn't have to, Like if 401 00:17:37,600 --> 00:17:39,679 Speaker 4: something did happen and you found yourself, you know, no 402 00:17:39,760 --> 00:17:42,639 Speaker 4: longer living with your partner, and you did need to move, 403 00:17:43,119 --> 00:17:46,320 Speaker 4: you could always rent for a little bit before, you know, 404 00:17:46,440 --> 00:17:50,040 Speaker 4: if you had renters in your property, for example in Victoria. Right, 405 00:17:50,200 --> 00:17:52,480 Speaker 4: it's different in every state, but if your renters are 406 00:17:52,520 --> 00:17:54,359 Speaker 4: on a lease, you can't just kick them out so 407 00:17:54,400 --> 00:17:57,000 Speaker 4: that you could move in anyway. So I understand that 408 00:17:57,080 --> 00:17:59,040 Speaker 4: it might be nice to go, oh, well, I want 409 00:17:59,040 --> 00:18:00,600 Speaker 4: to have a safety in it a house there, so 410 00:18:00,680 --> 00:18:02,440 Speaker 4: if I needed somewhere to go, I could go there. 411 00:18:02,800 --> 00:18:04,840 Speaker 4: But you actually might not be able to go there 412 00:18:04,840 --> 00:18:07,600 Speaker 4: in actuality anyway. You might have to get a rental 413 00:18:07,640 --> 00:18:11,439 Speaker 4: property regardless, in which case, if you were to sell it, 414 00:18:12,000 --> 00:18:13,919 Speaker 4: you could do the exact same thing that you might 415 00:18:14,000 --> 00:18:15,720 Speaker 4: have to do get a rental property while you kind 416 00:18:15,720 --> 00:18:19,080 Speaker 4: of figure yourself out, sell down you know, the shares 417 00:18:19,200 --> 00:18:22,320 Speaker 4: or access the money from wherever you've put it after 418 00:18:22,400 --> 00:18:26,679 Speaker 4: selling your investment totally. And it might be kind of 419 00:18:26,720 --> 00:18:29,439 Speaker 4: a similar situation because, yeah, just because you have the 420 00:18:29,440 --> 00:18:31,920 Speaker 4: property sitting there, if there is a tenant in it, 421 00:18:32,280 --> 00:18:34,600 Speaker 4: unless you're doing short term rentals or something like that, 422 00:18:35,080 --> 00:18:36,680 Speaker 4: there's every chance that you won't. 423 00:18:36,440 --> 00:18:38,800 Speaker 5: Be able to just move straight in anyway. Yes, as 424 00:18:39,040 --> 00:18:39,720 Speaker 5: you're considering. 425 00:18:40,040 --> 00:18:42,119 Speaker 4: But with that in mind, should we move along to 426 00:18:42,520 --> 00:18:43,959 Speaker 4: this week's GCDM. 427 00:18:44,160 --> 00:18:44,920 Speaker 5: Yes please. 428 00:18:45,320 --> 00:18:47,960 Speaker 4: It's short but sweet, but also very spicy. This week, 429 00:18:48,280 --> 00:18:51,760 Speaker 4: oh our DM said, Hi, I have a friend whose 430 00:18:51,800 --> 00:18:54,159 Speaker 4: partner thinks that he should have the password to her 431 00:18:54,160 --> 00:18:57,600 Speaker 4: banking account. They aren't a facto, they both live separately, 432 00:18:57,800 --> 00:19:00,520 Speaker 4: but they have been together for a few years. I'd 433 00:19:00,720 --> 00:19:02,760 Speaker 4: love everyone's opinions on this. 434 00:19:03,560 --> 00:19:06,400 Speaker 5: Your damn opinions. 435 00:19:07,760 --> 00:19:11,080 Speaker 6: Yeah, I just what the what's his reasoning? I want 436 00:19:11,080 --> 00:19:14,360 Speaker 6: to know what the reason because like, it's not shared account, 437 00:19:14,840 --> 00:19:17,600 Speaker 6: there's no reason for this. You don't even need to 438 00:19:17,600 --> 00:19:19,879 Speaker 6: know how much money someone has in their bank account. 439 00:19:20,000 --> 00:19:26,720 Speaker 5: That's a crazy request. So I think my thoughts are, yeah, 440 00:19:26,800 --> 00:19:30,240 Speaker 5: I beg your god, damn bad. No, he doesn't need 441 00:19:30,280 --> 00:19:33,240 Speaker 5: to log in. I would say, like, you know, sometimes 442 00:19:33,280 --> 00:19:33,880 Speaker 5: we're doing. 443 00:19:33,760 --> 00:19:37,680 Speaker 6: Something to surprise someone, Like my pardon just went away, 444 00:19:37,720 --> 00:19:39,840 Speaker 6: and I said that I really needed her house keys 445 00:19:40,320 --> 00:19:43,119 Speaker 6: and she was like, okay, I don't know why, but sure, 446 00:19:43,440 --> 00:19:45,560 Speaker 6: and then just like decorate it because it's her birthday, 447 00:19:45,560 --> 00:19:48,560 Speaker 6: blah blah. Sometimes we're doing these things, and we're doing 448 00:19:48,560 --> 00:19:50,560 Speaker 6: these things that like you don't absolutely don't need that. 449 00:19:50,600 --> 00:19:52,680 Speaker 6: I don't understand why you're asking for that, and that's 450 00:19:52,680 --> 00:19:55,560 Speaker 6: really sus but you're trying to do something cute. I 451 00:19:55,600 --> 00:19:59,639 Speaker 6: can't imagine a reason how that could work in this case. 452 00:19:59,680 --> 00:20:02,359 Speaker 6: But if you it's very sudden and it's very like urgent, 453 00:20:02,440 --> 00:20:05,760 Speaker 6: and it's very suss and there's no real reason for it, 454 00:20:05,760 --> 00:20:08,280 Speaker 6: it could be something like that, like maybe there's some 455 00:20:08,320 --> 00:20:09,560 Speaker 6: sort of competition. 456 00:20:09,600 --> 00:20:11,800 Speaker 5: He's trying to enter for her through her bank. 457 00:20:11,880 --> 00:20:13,080 Speaker 6: Yeah, I don't know, Like I'm trying to think of 458 00:20:13,119 --> 00:20:16,000 Speaker 6: like reasons why he could do it, could be needing 459 00:20:16,040 --> 00:20:17,040 Speaker 6: it for some sort of surprise. 460 00:20:17,080 --> 00:20:18,600 Speaker 4: But let's say that's not the case, and so you're 461 00:20:18,640 --> 00:20:19,879 Speaker 4: coming up blank because I got nothing. 462 00:20:20,560 --> 00:20:23,080 Speaker 5: Yeah, me too. Actually I have a single thing in 463 00:20:23,119 --> 00:20:26,200 Speaker 5: my mind for that. But I'm thinking red flag. I'm 464 00:20:26,200 --> 00:20:31,000 Speaker 5: thinking seems controlling, seems a little bit like he wants. 465 00:20:30,760 --> 00:20:32,560 Speaker 6: To be in her, up in her business, up in 466 00:20:32,600 --> 00:20:35,960 Speaker 6: her business or what in a way that's like sounding 467 00:20:36,000 --> 00:20:37,600 Speaker 6: I don't know if you've heard the who the hell 468 00:20:37,640 --> 00:20:40,040 Speaker 6: is Hamish or maybe. 469 00:20:39,800 --> 00:20:40,320 Speaker 5: That's not the one. 470 00:20:40,359 --> 00:20:43,480 Speaker 6: There's a different one, very con many, very like I 471 00:20:43,520 --> 00:20:46,240 Speaker 6: can help you invest and then take all your money, 472 00:20:46,680 --> 00:20:53,080 Speaker 6: very Ponzi scheme. So I think, unfortunately, as always, communication 473 00:20:53,200 --> 00:20:55,439 Speaker 6: is key, but really trying to get to the bottom 474 00:20:55,440 --> 00:20:57,600 Speaker 6: of what the hell he wants to do in there, 475 00:20:57,600 --> 00:21:03,520 Speaker 6: and if it's invests something Ponzi scheme, immediately immediately immediately 476 00:21:03,720 --> 00:21:07,920 Speaker 6: the urgency of investing her money, like she can see 477 00:21:07,960 --> 00:21:09,960 Speaker 6: like if it actually is legitimate, she'll be able to 478 00:21:10,000 --> 00:21:12,080 Speaker 6: see like, oh, well, you're getting some good investments. I'm 479 00:21:12,080 --> 00:21:15,320 Speaker 6: not giving you my money maybe separately a little bit 480 00:21:15,359 --> 00:21:17,240 Speaker 6: here and there. I'll put my own money into this thing, 481 00:21:17,280 --> 00:21:18,840 Speaker 6: whatever it is, but your. 482 00:21:18,680 --> 00:21:20,840 Speaker 4: Asumpity he wants to invest in her that. 483 00:21:21,119 --> 00:21:23,600 Speaker 6: Maybe I'm thinking it's something to do with that, and 484 00:21:23,640 --> 00:21:26,000 Speaker 6: if there's an urgency to invest someone else's money, then 485 00:21:26,080 --> 00:21:26,720 Speaker 6: Ponzi scheme. 486 00:21:26,920 --> 00:21:27,639 Speaker 2: I like. 487 00:21:27,760 --> 00:21:31,360 Speaker 4: I'm very pro, like broadly very pro password sharing. I've 488 00:21:31,359 --> 00:21:33,959 Speaker 4: been with my partner for a decade pretty much. I 489 00:21:34,000 --> 00:21:35,840 Speaker 4: know all of his passwords to everything. He knows all 490 00:21:35,840 --> 00:21:38,040 Speaker 4: my passwords everything. We share a lot of passwords for 491 00:21:38,040 --> 00:21:39,919 Speaker 4: a lot of things. The one thing that I do 492 00:21:40,000 --> 00:21:42,760 Speaker 4: not have password to for him nor for me is 493 00:21:42,880 --> 00:21:46,800 Speaker 4: the bank accounts. Yes, because there is simply no reason 494 00:21:47,080 --> 00:21:49,560 Speaker 4: to Like, if he said to me, hey, like, how 495 00:21:49,640 --> 00:21:51,119 Speaker 4: much is in your bank account, obviously I'd more than 496 00:21:51,160 --> 00:21:53,320 Speaker 4: happily tell him, I mean totally honestly. With the house, 497 00:21:53,359 --> 00:21:56,080 Speaker 4: he's well aware, there's not a lot of hearing, you know, 498 00:21:56,119 --> 00:21:58,879 Speaker 4: it's all the ins and outs. We're very open with 499 00:21:58,920 --> 00:22:01,080 Speaker 4: all of those sorts of things. But there's just still 500 00:22:01,119 --> 00:22:05,000 Speaker 4: no reason for either of us to have access if 501 00:22:05,040 --> 00:22:08,280 Speaker 4: it's a shared account. Totally different story, which we do 502 00:22:08,359 --> 00:22:09,919 Speaker 4: have a shared account ive said before, which we use 503 00:22:10,000 --> 00:22:12,280 Speaker 4: like bills and groceries and stuff, which we both obviously 504 00:22:12,320 --> 00:22:16,040 Speaker 4: have access to. But for your own independent bank account, 505 00:22:16,440 --> 00:22:20,399 Speaker 4: there truly is no reason, like, not a single good reason. 506 00:22:20,720 --> 00:22:22,680 Speaker 4: Like I was exactly easy where I was going God, 507 00:22:23,119 --> 00:22:25,360 Speaker 4: puzzling it out, trying to think like why what could 508 00:22:25,400 --> 00:22:27,640 Speaker 4: he want to do with that? Yeah, and nothing good 509 00:22:27,720 --> 00:22:29,399 Speaker 4: was coming to mind at all. And even if it 510 00:22:29,440 --> 00:22:31,760 Speaker 4: was something good, I think to ask that of someone 511 00:22:31,800 --> 00:22:35,840 Speaker 4: you really need a shred of context shrum please, I'm begging. 512 00:22:36,480 --> 00:22:39,320 Speaker 4: As you said, I thought, big fat red flag yes, 513 00:22:39,320 --> 00:22:41,720 Speaker 4: and did do a quick little google just to see 514 00:22:41,760 --> 00:22:43,560 Speaker 4: what the thoughts were on this. And so this is 515 00:22:43,560 --> 00:22:45,399 Speaker 4: coming directly from NAB, which is obviously one of the 516 00:22:45,400 --> 00:22:49,320 Speaker 4: Big four, and they very explicitly say never share your 517 00:22:49,320 --> 00:22:52,520 Speaker 4: password with someone, not even someone you trust. Yes, what 518 00:22:52,640 --> 00:22:55,320 Speaker 4: about your friends and family regardless of whom you share 519 00:22:55,320 --> 00:22:57,640 Speaker 4: it with. Once you share your passwords, you lose control 520 00:22:57,680 --> 00:22:59,960 Speaker 4: of how it's stored or how or when it's used. 521 00:23:00,359 --> 00:23:02,640 Speaker 4: You may not be covered for fraud. One of your 522 00:23:02,640 --> 00:23:05,480 Speaker 4: responsibilities as a NAB bank account owner and a user 523 00:23:05,520 --> 00:23:08,040 Speaker 4: of the Internet banking is to protect your password. 524 00:23:08,400 --> 00:23:10,120 Speaker 5: Sharing your passwords. 525 00:23:09,600 --> 00:23:12,960 Speaker 4: Or pins may affect a claim for any money lost 526 00:23:13,040 --> 00:23:15,520 Speaker 4: or due to fraud, And I think that is a big, fat, 527 00:23:15,880 --> 00:23:18,000 Speaker 4: important reminder we need to put in front of that. Yes, 528 00:23:18,080 --> 00:23:20,520 Speaker 4: exactly as you were saying, God forbid, if he was 529 00:23:20,840 --> 00:23:24,119 Speaker 4: wanting it for nefarious reasons, if you just happily go 530 00:23:24,640 --> 00:23:26,879 Speaker 4: of course, love of mine, have my password and he 531 00:23:27,040 --> 00:23:29,600 Speaker 4: was to do something terrible, the chances are that you 532 00:23:29,640 --> 00:23:31,439 Speaker 4: may not be able to recover that money in the 533 00:23:31,480 --> 00:23:33,600 Speaker 4: same way that you would if your bank account was 534 00:23:33,680 --> 00:23:37,359 Speaker 4: hacked totally, totally, And that's really important to remember. We 535 00:23:37,480 --> 00:23:40,760 Speaker 4: also saw from a family lawyer somebody said one of 536 00:23:40,800 --> 00:23:43,840 Speaker 4: the first things that we recommend to clients after separating 537 00:23:43,960 --> 00:23:46,720 Speaker 4: is to consider changing all of their online passwords to everything, 538 00:23:46,720 --> 00:23:49,080 Speaker 4: even their email accounts. And again that comes back to 539 00:23:49,640 --> 00:23:52,960 Speaker 4: that data privacy, data protection, because once you give somebody 540 00:23:53,000 --> 00:23:55,600 Speaker 4: access to something, there's no control over what they're doing 541 00:23:55,640 --> 00:23:57,119 Speaker 4: with it. And like, yes, obviously you can change the 542 00:23:57,119 --> 00:24:00,280 Speaker 4: password in future, but all it takes is one transaction 543 00:24:00,560 --> 00:24:03,520 Speaker 4: for them to potentially take it and do something with 544 00:24:03,560 --> 00:24:05,200 Speaker 4: it that is going to put you in. 545 00:24:05,119 --> 00:24:06,280 Speaker 5: A really horrible position. 546 00:24:06,520 --> 00:24:10,440 Speaker 4: So I would be saying, ask them why and if 547 00:24:10,440 --> 00:24:13,480 Speaker 4: they are not giving you a very good reason, because truthfully, 548 00:24:13,520 --> 00:24:16,280 Speaker 4: I can't. I can't think of a single good reason. Yeah, 549 00:24:16,359 --> 00:24:18,159 Speaker 4: if they can't give you a good one, it's a 550 00:24:18,160 --> 00:24:19,080 Speaker 4: big fat no from me. 551 00:24:19,160 --> 00:24:22,000 Speaker 5: Absolutely completely agree. What did the community say? 552 00:24:22,760 --> 00:24:25,359 Speaker 4: Let me tell you we got a lot of responses 553 00:24:25,400 --> 00:24:28,120 Speaker 4: to this one. So firstly, we did ask a couple 554 00:24:28,160 --> 00:24:30,360 Speaker 4: of polls, So we said, what would you do if 555 00:24:30,400 --> 00:24:33,600 Speaker 4: your friend told you that her partner wanted their passwords? 556 00:24:34,080 --> 00:24:36,280 Speaker 4: Six percent of you said We'd leave it for her 557 00:24:36,320 --> 00:24:39,600 Speaker 4: to decide, seventeen percent of you said I would explain 558 00:24:39,600 --> 00:24:42,760 Speaker 4: the risks to her, another seventeen percent said I would 559 00:24:42,760 --> 00:24:45,320 Speaker 4: find out more but keep an eye on it, and 560 00:24:45,359 --> 00:24:47,560 Speaker 4: then sixty percent said I would tell her it's a 561 00:24:47,560 --> 00:24:50,600 Speaker 4: red flag. I'm shocked that it was only sixty percent. 562 00:24:50,800 --> 00:24:53,320 Speaker 5: I know shows guys. 563 00:24:53,640 --> 00:24:56,440 Speaker 4: Next, we said, how do you feel about sharing passwords 564 00:24:56,480 --> 00:24:59,000 Speaker 4: broadly with a partner. Twenty one percent of you said, 565 00:24:59,119 --> 00:25:01,680 Speaker 4: I'm fine with it if we're in a committed relationship, 566 00:25:02,160 --> 00:25:05,159 Speaker 4: Forty six percent of you said I'm only okay with 567 00:25:05,200 --> 00:25:07,920 Speaker 4: it if we're married or de facto, and thirty three 568 00:25:08,000 --> 00:25:11,360 Speaker 4: percent of you said it is a hard no from me. Honestly, 569 00:25:11,840 --> 00:25:15,359 Speaker 4: every single person said exactly what we said. They said, 570 00:25:15,600 --> 00:25:18,639 Speaker 4: it's a huge point of concern. It's a big red flag. 571 00:25:18,800 --> 00:25:21,399 Speaker 4: There's no good reason. Yes, I could read them to you, 572 00:25:21,440 --> 00:25:23,520 Speaker 4: but we have about five hundred responses that all say 573 00:25:23,560 --> 00:25:25,840 Speaker 4: the exact same thing. So I'm just paraphrasing it for 574 00:25:25,920 --> 00:25:28,080 Speaker 4: you here right now. I really just want to hammer 575 00:25:28,119 --> 00:25:30,360 Speaker 4: home to you guys, if there is not a good 576 00:25:30,400 --> 00:25:32,920 Speaker 4: reason to share your banking password with someone, if it's 577 00:25:32,960 --> 00:25:36,440 Speaker 4: not a shared account, there really is no reason totally. 578 00:25:36,840 --> 00:25:38,520 Speaker 4: And I would argue if he said, oh, like I 579 00:25:38,520 --> 00:25:40,080 Speaker 4: wanted to set us up to do bills or to 580 00:25:40,119 --> 00:25:42,760 Speaker 4: do whatever, I would be saying, set up a separate 581 00:25:43,000 --> 00:25:46,879 Speaker 4: shared bank account. Yes, always always have access to something 582 00:25:46,920 --> 00:25:48,080 Speaker 4: that is just yours. 583 00:25:48,840 --> 00:25:49,479 Speaker 5: God forbid. 584 00:25:49,520 --> 00:25:52,760 Speaker 4: You need your emergency fund, whatever, you should always have 585 00:25:52,800 --> 00:25:55,320 Speaker 4: that tucked away in a place that only you can touch. 586 00:25:55,560 --> 00:25:58,000 Speaker 6: And also, if you're listening to this, can you please 587 00:25:58,080 --> 00:25:59,919 Speaker 6: update us because I'm dying to know. 588 00:26:00,080 --> 00:26:02,119 Speaker 4: I'm desperate to know as well, and just for to 589 00:26:02,280 --> 00:26:05,320 Speaker 4: know what the outcome is. Yeah, I'm really curious, because 590 00:26:05,320 --> 00:26:07,000 Speaker 4: I did. I thought about it for a while and 591 00:26:07,040 --> 00:26:10,080 Speaker 4: I just truly couldn't think of anything interesting. 592 00:26:10,359 --> 00:26:13,439 Speaker 5: Yeah, maybe because it could be like refer a friend. 593 00:26:13,920 --> 00:26:17,520 Speaker 4: No, there's no reason you need to cos that's so true. Absolutely, 594 00:26:17,560 --> 00:26:20,119 Speaker 4: there's nothing, There's nothing at all. But anyway, hopefully we 595 00:26:20,160 --> 00:26:22,000 Speaker 4: even then we can report back to you, guys. I'm 596 00:26:22,040 --> 00:26:24,119 Speaker 4: glad that we're all kind of on the same page 597 00:26:24,359 --> 00:26:26,280 Speaker 4: with that one. If you have any thoughts or concerns, 598 00:26:26,280 --> 00:26:28,200 Speaker 4: you can always also reach out to like the customer 599 00:26:28,280 --> 00:26:30,199 Speaker 4: service team at your bank and they can talk you 600 00:26:30,240 --> 00:26:32,160 Speaker 4: through any risks that might exist. 601 00:26:32,359 --> 00:26:33,760 Speaker 5: Totally, but I think that's a really good place to 602 00:26:33,840 --> 00:26:34,359 Speaker 5: leave it for today. 603 00:26:34,359 --> 00:26:34,720 Speaker 3: What do you think? 604 00:26:34,760 --> 00:26:34,960 Speaker 6: Yeah? 605 00:26:34,960 --> 00:26:37,000 Speaker 5: I think so what a lovely episode. It's be Thank 606 00:26:37,040 --> 00:26:39,320 Speaker 5: you so much, Jess, Ricky and well Victoria. Will see 607 00:26:39,320 --> 00:26:46,840 Speaker 5: you bright and early on Monday morning. Hi, guys, say. 608 00:26:47,720 --> 00:26:50,280 Speaker 7: The advice shared on She's on the Money is general 609 00:26:50,320 --> 00:26:54,160 Speaker 7: in nature and does not consider your individual circumstances. She's 610 00:26:54,200 --> 00:26:57,679 Speaker 7: on the Money exists purely for educational purposes and should 611 00:26:57,720 --> 00:26:59,960 Speaker 7: not be relied upon to make an investment. All fune 612 00:27:00,000 --> 00:27:03,480 Speaker 7: financial decision. If you do choose to buy a financial product, 613 00:27:03,520 --> 00:27:07,520 Speaker 7: read the PDS TMD and obtain appropriate financial advice tailored 614 00:27:07,560 --> 00:27:11,040 Speaker 7: towards your needs. Victoria, Divine and Sheese on the Money 615 00:27:11,080 --> 00:27:14,680 Speaker 7: are authorized representatives of Money sherper P T Y lt 616 00:27:14,800 --> 00:27:17,560 Speaker 7: D A b N three two one six four nine 617 00:27:17,640 --> 00:27:21,160 Speaker 7: two seven seven zero eight afs L four five one 618 00:27:21,359 --> 00:27:23,040 Speaker 7: two eight nine