1 00:00:00,640 --> 00:00:04,880 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 2 00:00:04,920 --> 00:00:08,639 Speaker 1: the Order KERNI Whoalbury and a waddery woman. And before 3 00:00:08,640 --> 00:00:11,119 Speaker 1: we get started on She's on the Money podcast, I 4 00:00:11,160 --> 00:00:14,280 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:18,079 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,240 Speaker 1: acknowledging the elders, the ancestors and the next generation coming 7 00:00:22,280 --> 00:00:26,960 Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing 8 00:00:27,040 --> 00:00:30,080 Speaker 1: and the storytelling of you to make a difference for 9 00:00:30,200 --> 00:00:32,599 Speaker 1: today and lasting impact for tomorrow. 10 00:00:33,280 --> 00:00:34,080 Speaker 2: Let's get into it. 11 00:00:34,760 --> 00:00:54,000 Speaker 3: She's on the Money, She's on the Money. 12 00:00:57,760 --> 00:01:00,360 Speaker 2: Hello, and welcome to She's on the Money. Need the 13 00:01:00,400 --> 00:01:04,480 Speaker 2: podcast for millennials who want financial freedom. Today, my friends, 14 00:01:04,520 --> 00:01:06,920 Speaker 2: is Friday, which means it is time to sit back 15 00:01:06,959 --> 00:01:09,319 Speaker 2: with the girls, I Ate, Jess and I with a 16 00:01:09,360 --> 00:01:12,360 Speaker 2: bev in hand, to unpack our favorite moments from the week, 17 00:01:12,400 --> 00:01:15,520 Speaker 2: and of course, to celebrate you, our incredible She's on 18 00:01:15,520 --> 00:01:18,080 Speaker 2: the Money community. As always, we're going to be sharing 19 00:01:18,080 --> 00:01:20,240 Speaker 2: our favorite money weeds. We're going to be discussing what's 20 00:01:20,280 --> 00:01:23,279 Speaker 2: making news in the finance world, and we'll be helping 21 00:01:23,319 --> 00:01:26,039 Speaker 2: to answer a juicy money Question, which this week is 22 00:01:26,080 --> 00:01:29,080 Speaker 2: all about prenups, but first it is time to recap 23 00:01:29,120 --> 00:01:31,640 Speaker 2: the week that was. I'm going to start with Monday's 24 00:01:31,640 --> 00:01:34,600 Speaker 2: money Dry episode, which this week was all about someone 25 00:01:34,600 --> 00:01:37,280 Speaker 2: who'd moved out of home and interstate at the age 26 00:01:37,319 --> 00:01:41,040 Speaker 2: of seventeen and was now twenty five a registered nurse. 27 00:01:41,280 --> 00:01:43,800 Speaker 2: But the spicy part was she worked in a jail, 28 00:01:44,120 --> 00:01:47,120 Speaker 2: and I thought that that was so interesting and we 29 00:01:47,200 --> 00:01:49,800 Speaker 2: had some conversations. I obviously took it down my own 30 00:01:49,840 --> 00:01:52,560 Speaker 2: root of questioning, because Jess, you're not there to keep 31 00:01:52,600 --> 00:01:55,120 Speaker 2: me on track an so I just go rogue And 32 00:01:55,160 --> 00:01:57,080 Speaker 2: I was like, what about the ethics of it? Like 33 00:01:57,160 --> 00:02:00,400 Speaker 2: what about providing care to people that you no might 34 00:02:00,480 --> 00:02:03,360 Speaker 2: have killed someone else? Like how does that work? So 35 00:02:03,640 --> 00:02:05,600 Speaker 2: I found it really interesting, and to be honest, I 36 00:02:05,640 --> 00:02:08,360 Speaker 2: found her really compassionate and kind because she was like, well, 37 00:02:08,360 --> 00:02:10,360 Speaker 2: I'm not there to judge their circumstances. I'm there to 38 00:02:10,360 --> 00:02:11,840 Speaker 2: make sure that they're healthy, and I was just like, 39 00:02:11,880 --> 00:02:15,160 Speaker 2: you're a very very kind human. She was actually really 40 00:02:15,200 --> 00:02:17,520 Speaker 2: really interesting as well. She lived with her partner and 41 00:02:17,560 --> 00:02:20,400 Speaker 2: she had two dogs, which obviously I was really interested in, 42 00:02:20,840 --> 00:02:22,919 Speaker 2: but she also decided to get on board the first 43 00:02:22,919 --> 00:02:25,560 Speaker 2: time Super Savis game, which is an absolute mouthful, and 44 00:02:25,600 --> 00:02:28,680 Speaker 2: she's contributing an extra six hundred dollars each and every 45 00:02:28,680 --> 00:02:31,080 Speaker 2: single fortnight to Super because they want to buy their 46 00:02:31,080 --> 00:02:33,000 Speaker 2: first time in three years. And I just thought it 47 00:02:33,040 --> 00:02:35,000 Speaker 2: was really cool to see a twenty five year old 48 00:02:35,080 --> 00:02:37,200 Speaker 2: at that stage where she's like, I'm just saving, I'm 49 00:02:37,200 --> 00:02:39,520 Speaker 2: trying to get there. This is my plan, this is 50 00:02:39,560 --> 00:02:41,960 Speaker 2: my strategy. And it's really nice to talk to people 51 00:02:42,000 --> 00:02:44,960 Speaker 2: who have strategies that are a little bit longer, because 52 00:02:45,000 --> 00:02:46,919 Speaker 2: I think so many times we talk to people and 53 00:02:46,960 --> 00:02:48,600 Speaker 2: they're like, yeah, I'm going to buy property, and it's 54 00:02:48,639 --> 00:02:51,079 Speaker 2: always I'm going to buy property this year or next year, 55 00:02:51,200 --> 00:02:54,040 Speaker 2: or I already have fifty thousand dollars savings, and for 56 00:02:54,160 --> 00:02:57,480 Speaker 2: some people that's just not relatable. But this money drest 57 00:02:57,600 --> 00:02:59,520 Speaker 2: was like, all right, this is a three year game plan. 58 00:02:59,560 --> 00:03:01,480 Speaker 2: I'm still to it. And I was like, yes, Quinn, 59 00:03:01,520 --> 00:03:03,160 Speaker 2: get it. Oh my gosh, that's awesome. 60 00:03:03,240 --> 00:03:05,240 Speaker 4: But having a plan and sticking to it takes the 61 00:03:05,240 --> 00:03:07,880 Speaker 4: pressure off a bit and setting up that habit. She's 62 00:03:07,880 --> 00:03:10,040 Speaker 4: basically paying a mortgage here. I mean like she's getting 63 00:03:10,040 --> 00:03:12,480 Speaker 4: herself in that habit now, which is only going to 64 00:03:12,560 --> 00:03:14,919 Speaker 4: make her life a whole lot easier when she finally 65 00:03:14,960 --> 00:03:16,080 Speaker 4: does get to buy her home. 66 00:03:15,960 --> 00:03:18,280 Speaker 2: Literally, And I just think that too many times we 67 00:03:18,320 --> 00:03:21,000 Speaker 2: only see the shiny side of property purchasing, And I mean, 68 00:03:21,360 --> 00:03:24,840 Speaker 2: you're on that journey at the moment, which is not shiny, 69 00:03:25,080 --> 00:03:27,560 Speaker 2: not shiny. But it did take you a while to 70 00:03:27,600 --> 00:03:30,360 Speaker 2: save your deposit and you were really diligent at it. 71 00:03:30,440 --> 00:03:32,959 Speaker 2: But I don't think people understand the compromise that comes 72 00:03:33,000 --> 00:03:36,240 Speaker 2: along with making a big, long term financial decision because 73 00:03:36,240 --> 00:03:38,960 Speaker 2: it's going into your savings account. It's not going somewhere else. 74 00:03:39,080 --> 00:03:42,680 Speaker 2: Like every single day you're challenged as to weather, Oh 75 00:03:42,800 --> 00:03:44,360 Speaker 2: do you want to go on another holiday with friends, 76 00:03:44,440 --> 00:03:45,400 Speaker 2: or do you want to go out for brunch? Or 77 00:03:45,400 --> 00:03:47,160 Speaker 2: do you want to make these decisions. It's not something 78 00:03:47,200 --> 00:03:48,800 Speaker 2: that you just go, yeah, we've been planning this for 79 00:03:48,880 --> 00:03:51,600 Speaker 2: ages and it was no biggie. Y's a biggie. It's 80 00:03:51,640 --> 00:03:53,360 Speaker 2: a massive So it was really nice to have a 81 00:03:53,440 --> 00:03:55,240 Speaker 2: chat with her. She was full of bubbles and I 82 00:03:55,240 --> 00:03:58,040 Speaker 2: really loved her. Oh my gosh, she sounds incredible. What 83 00:03:58,080 --> 00:03:59,760 Speaker 2: did we talk about a Wednesday though, Jessica? 84 00:04:00,000 --> 00:04:03,200 Speaker 4: So on Wednesday we recapped the top five performing ETFs 85 00:04:03,240 --> 00:04:05,360 Speaker 4: of twenty twenty two, which was a really fun episode 86 00:04:05,400 --> 00:04:07,840 Speaker 4: to do for a couple of reasons. Firstly, did you 87 00:04:07,880 --> 00:04:10,560 Speaker 4: know that this year our very best fine you're going 88 00:04:10,600 --> 00:04:13,160 Speaker 4: to say, was recapping the best ETFs of twenty. 89 00:04:13,040 --> 00:04:16,599 Speaker 2: Twenty one one? Yes, we did our Spotify rapped rapped, 90 00:04:16,640 --> 00:04:20,040 Speaker 2: not rewrapped rap, Spotify wrapped, And it came out that 91 00:04:20,040 --> 00:04:22,960 Speaker 2: that was our most popular episode by like heaps. It 92 00:04:23,040 --> 00:04:26,040 Speaker 2: wasn't like, you know, a thousand listence, it was like 93 00:04:26,240 --> 00:04:29,080 Speaker 2: what was It was like fifty six percent or something ridiculous, 94 00:04:29,120 --> 00:04:32,239 Speaker 2: And I was like, ah, you guys were more investing content. 95 00:04:32,360 --> 00:04:34,479 Speaker 2: I see you, I hear you. So watch out twenty 96 00:04:34,520 --> 00:04:35,000 Speaker 2: twenty three. 97 00:04:35,160 --> 00:04:37,359 Speaker 4: Yeah, lots more investing content coming your way. But the 98 00:04:37,360 --> 00:04:40,120 Speaker 4: reason I really enjoyed this episode was because it's obviously 99 00:04:40,120 --> 00:04:42,200 Speaker 4: the second year now that we've done it. It was 100 00:04:42,240 --> 00:04:44,159 Speaker 4: really cool to be able to compare and look back 101 00:04:44,200 --> 00:04:46,840 Speaker 4: at the industries that performed really well last year, because 102 00:04:46,880 --> 00:04:50,080 Speaker 4: we spoke a lot in that episode about how it 103 00:04:50,120 --> 00:04:53,160 Speaker 4: was a real anomaly in the industries that performed well 104 00:04:53,200 --> 00:04:56,039 Speaker 4: and more specifically the percentage of growth that they saw 105 00:04:56,080 --> 00:04:58,480 Speaker 4: because last year there were companies that had growth of 106 00:04:58,839 --> 00:05:02,640 Speaker 4: you know, sixty seventy Yeah, like crazy, and you, at 107 00:05:02,640 --> 00:05:05,520 Speaker 4: the time, as an advisor, said this is not normal, 108 00:05:05,680 --> 00:05:08,120 Speaker 4: And as someone who was new to investing, I was like, oh, yeah, 109 00:05:08,160 --> 00:05:10,120 Speaker 4: like I sho. 110 00:05:09,520 --> 00:05:11,719 Speaker 2: But what I was going to be companies that performed 111 00:05:11,760 --> 00:05:12,599 Speaker 2: that way? Yeah. 112 00:05:12,640 --> 00:05:14,640 Speaker 4: I mean when we looked at this year's top five, 113 00:05:14,920 --> 00:05:19,080 Speaker 4: the growth was so much done in comparison. And I 114 00:05:19,080 --> 00:05:20,440 Speaker 4: don't want to give it away. You're gonna have to 115 00:05:20,480 --> 00:05:22,560 Speaker 4: go listen to the episode if you want to know. No, 116 00:05:23,040 --> 00:05:24,440 Speaker 4: they've got to go listen to the episode if they 117 00:05:24,480 --> 00:05:25,880 Speaker 4: want to know all the juicy ds. But it was 118 00:05:25,920 --> 00:05:31,040 Speaker 4: completely different industries, completely different ETFs, and also completely different percentages, 119 00:05:31,040 --> 00:05:33,200 Speaker 4: which is just cool to look at as someone who's 120 00:05:33,279 --> 00:05:35,560 Speaker 4: kind of interested in the data and also as a 121 00:05:35,600 --> 00:05:38,680 Speaker 4: newer investor to see just how much of a difference 122 00:05:38,760 --> 00:05:39,680 Speaker 4: twelve months can make. 123 00:05:39,880 --> 00:05:42,600 Speaker 2: Yeah, and I mean I'm boring, so I love this content, 124 00:05:42,640 --> 00:05:45,560 Speaker 2: but turns out you guys do too. I think it 125 00:05:45,560 --> 00:05:48,200 Speaker 2: would be interesting as well if you hadn't listened to 126 00:05:48,240 --> 00:05:50,359 Speaker 2: that episode or you're newer to the podcast, because we 127 00:05:50,440 --> 00:05:53,480 Speaker 2: learn also from our Spotify wrapped that our community has 128 00:05:53,560 --> 00:05:57,000 Speaker 2: grown by what thirty seven percent, So thirty seven percent 129 00:05:57,080 --> 00:05:59,480 Speaker 2: of our listeners are new this year, which is very, 130 00:05:59,600 --> 00:06:01,560 Speaker 2: very cool. So if you're one of them, I would 131 00:06:01,600 --> 00:06:03,960 Speaker 2: actually go back and listen to that twenty twenty one 132 00:06:04,040 --> 00:06:06,080 Speaker 2: rap and then the twenty twenty two just so you 133 00:06:06,120 --> 00:06:08,520 Speaker 2: can understand what we're talking about when it comes to 134 00:06:08,600 --> 00:06:11,040 Speaker 2: changes in the economy and changes in the market and 135 00:06:11,080 --> 00:06:14,320 Speaker 2: the different industries that were showcased, because both of those 136 00:06:14,320 --> 00:06:16,240 Speaker 2: episodes are not going to be able to guide you 137 00:06:16,680 --> 00:06:18,840 Speaker 2: on what to invest in in the future because past 138 00:06:18,839 --> 00:06:21,479 Speaker 2: performance is not a reliable predictor of future performance. We 139 00:06:21,640 --> 00:06:24,160 Speaker 2: know that it's just reflecting on the year that was. 140 00:06:24,240 --> 00:06:26,320 Speaker 2: But I think you guys will actually find it really 141 00:06:26,320 --> 00:06:29,400 Speaker 2: interesting now that there's two episodes that kind of have 142 00:06:29,600 --> 00:06:32,120 Speaker 2: the same format to go, Wow, in twenty twenty one, 143 00:06:32,160 --> 00:06:33,839 Speaker 2: it did this, and then in twenty twenty two it 144 00:06:33,880 --> 00:06:36,880 Speaker 2: did this. We can't predict what twenty twenty three is 145 00:06:36,920 --> 00:06:38,960 Speaker 2: going to do, and that's why we have to always 146 00:06:39,000 --> 00:06:41,160 Speaker 2: be switched on making sure that we have really well 147 00:06:41,200 --> 00:06:44,400 Speaker 2: diversified portfolios, and then we're not jumping the gun on 148 00:06:44,560 --> 00:06:48,279 Speaker 2: things and not trying to just follow trends because Jess, 149 00:06:48,320 --> 00:06:50,719 Speaker 2: if you had listened to that twenty twenty one episode 150 00:06:50,720 --> 00:06:52,359 Speaker 2: we did, and you're like, oh my gosh, zoom and 151 00:06:52,400 --> 00:06:54,760 Speaker 2: stuff like this is really performing because of COVID. I'm 152 00:06:54,760 --> 00:06:57,400 Speaker 2: going to jump on that bandwagon. You weren't even going 153 00:06:57,480 --> 00:07:00,360 Speaker 2: to be in the top twenty this year. That would 154 00:07:00,360 --> 00:07:02,120 Speaker 2: have put you behind. So I think that we need 155 00:07:02,160 --> 00:07:04,640 Speaker 2: to talk about how important it is to not take 156 00:07:04,680 --> 00:07:07,839 Speaker 2: these episodes as advice but rather education. You know, we 157 00:07:07,880 --> 00:07:10,200 Speaker 2: harp on about it all the time, but that's a 158 00:07:10,240 --> 00:07:14,040 Speaker 2: really solid example of Hey, our twenty twenty one wrap, 159 00:07:14,080 --> 00:07:16,440 Speaker 2: if you had decided to take that as advice, you 160 00:07:16,480 --> 00:07:18,200 Speaker 2: weren't even going to make it the next year. We 161 00:07:18,280 --> 00:07:21,040 Speaker 2: really need to be more diversified than that. Yeah. 162 00:07:21,120 --> 00:07:23,480 Speaker 4: Absolutely, And for twenty twenty one, we also did an 163 00:07:23,480 --> 00:07:26,720 Speaker 4: episode reviewing the top five performing individual shares. 164 00:07:26,960 --> 00:07:28,520 Speaker 2: Well do that again? Should we do that again? 165 00:07:28,640 --> 00:07:30,280 Speaker 4: Yeah? If you want to see that, let us know, 166 00:07:30,400 --> 00:07:32,680 Speaker 4: slide into our dms because we can always. 167 00:07:32,320 --> 00:07:34,520 Speaker 2: Just changing the name of the podcast is not She's 168 00:07:34,520 --> 00:07:36,480 Speaker 2: on the Money, it's She's on the investing. I think 169 00:07:36,520 --> 00:07:39,880 Speaker 2: that's a great idea. Victoria's so stoked. I'm like, yes, 170 00:07:40,000 --> 00:07:41,520 Speaker 2: these queens have caught up. 171 00:07:42,360 --> 00:07:44,920 Speaker 4: All right, enough talking investing vas. I know you could 172 00:07:44,920 --> 00:07:47,720 Speaker 4: do that literally all day, but instead, let's get into 173 00:07:47,760 --> 00:07:51,200 Speaker 4: today's budget direct money wins some confession, let's still it already. 174 00:07:51,240 --> 00:07:53,280 Speaker 4: So my first win this week comes from Shan, who 175 00:07:53,360 --> 00:07:56,280 Speaker 4: said a colleague told me I could claim my master's 176 00:07:56,280 --> 00:08:00,360 Speaker 4: degree on tax as work related self education, amended tax 177 00:08:00,400 --> 00:08:03,120 Speaker 4: return and got another ten thousand dollars back. 178 00:08:03,640 --> 00:08:07,080 Speaker 2: What money, ween? I love that. That's a lot of money. 179 00:08:07,280 --> 00:08:08,720 Speaker 2: I always want to know what people are going to 180 00:08:08,800 --> 00:08:10,000 Speaker 2: do with it when they say I got an extra 181 00:08:10,120 --> 00:08:11,840 Speaker 2: ten grand, Like, where did it go? I know I'll 182 00:08:11,840 --> 00:08:13,080 Speaker 2: get I'll come out back to Shan and be like, 183 00:08:13,120 --> 00:08:15,200 Speaker 2: where's it going? What are you doing? Victory wants to know. Yeah, 184 00:08:15,200 --> 00:08:17,520 Speaker 2: I'm perviey, Please tell me your financial circumstances. 185 00:08:18,000 --> 00:08:20,760 Speaker 4: Our next wind comes from Kira, who said, money win. 186 00:08:21,160 --> 00:08:23,760 Speaker 4: I made eighteen little gifts for my daycare and school 187 00:08:23,800 --> 00:08:27,000 Speaker 4: teachers from my kids, using things I already had at home. 188 00:08:27,240 --> 00:08:30,400 Speaker 4: I've only spent twelve dollars on seedlings. And she put 189 00:08:30,400 --> 00:08:32,319 Speaker 4: in a photo of nine that are going to school tomorrow, 190 00:08:32,360 --> 00:08:34,440 Speaker 4: and they're these really cute little pots with flowers that 191 00:08:34,480 --> 00:08:35,880 Speaker 4: she's grown from the seedlings. 192 00:08:36,040 --> 00:08:37,520 Speaker 2: Oh, and I feel like that's so cute. 193 00:08:37,520 --> 00:08:41,800 Speaker 4: Week she can say, oh, like me and my child groovy. 194 00:08:41,640 --> 00:08:45,320 Speaker 2: You Yeah, that's really cute. I feel like my mum 195 00:08:45,480 --> 00:08:47,840 Speaker 2: used to put so much energy and effort into the 196 00:08:47,920 --> 00:08:51,480 Speaker 2: teacher gifts for my teachers growing up, and I look 197 00:08:51,480 --> 00:08:53,400 Speaker 2: at it now and I'm like, what is that an 198 00:08:53,400 --> 00:08:55,679 Speaker 2: expectation of parenting? Because I don't know. 199 00:08:56,000 --> 00:08:58,080 Speaker 4: It's also a big expense because kids that are in 200 00:08:58,160 --> 00:09:01,480 Speaker 4: primary school particularly have a host of what like five 201 00:09:01,640 --> 00:09:04,040 Speaker 4: or six different teachers that they would see across the week, 202 00:09:04,080 --> 00:09:06,280 Speaker 4: Like they would have their homeroom or their core teacher 203 00:09:06,320 --> 00:09:07,880 Speaker 4: and their art teacher and their sport teacher. 204 00:09:08,280 --> 00:09:09,680 Speaker 2: Yeah, like where do you draw. 205 00:09:09,640 --> 00:09:11,800 Speaker 4: The line because that's gone to get expensive. 206 00:09:12,040 --> 00:09:12,240 Speaker 1: Yeah. 207 00:09:12,280 --> 00:09:15,040 Speaker 2: But also, if you're a teacher at Christmas time, do 208 00:09:15,080 --> 00:09:18,240 Speaker 2: you just end up with sixty million seedlings on your desk? 209 00:09:18,559 --> 00:09:21,080 Speaker 2: Or chocolate? My sister in law is a teacher. Would 210 00:09:21,120 --> 00:09:23,360 Speaker 2: you are right with chocolates? I feel like chocolates is 211 00:09:23,400 --> 00:09:26,480 Speaker 2: a good compromise. I always feel like presents for people 212 00:09:26,520 --> 00:09:30,480 Speaker 2: that you're not that close to should be somewhat disposable. 213 00:09:31,000 --> 00:09:33,120 Speaker 2: Is that a bad thing? I don't know, Like it 214 00:09:33,160 --> 00:09:36,120 Speaker 2: feels less thoughtful, But like if I didn't know you. Well, Jess, like, 215 00:09:36,160 --> 00:09:38,040 Speaker 2: I'm not going to go buy you some kind of 216 00:09:38,160 --> 00:09:40,960 Speaker 2: decor for your home that you then put in the 217 00:09:41,000 --> 00:09:43,120 Speaker 2: corner of your house and you're like, oh, that's sick, 218 00:09:43,320 --> 00:09:47,600 Speaker 2: like wine, food, chocolates, biscuits, something that can be consumed, 219 00:09:48,040 --> 00:09:51,560 Speaker 2: appreciated and then not have an impact on your decor 220 00:09:51,800 --> 00:09:52,200 Speaker 2: at home. 221 00:09:52,440 --> 00:09:54,200 Speaker 4: Well, yeah, my sister in law always says there's only 222 00:09:54,280 --> 00:09:56,640 Speaker 4: so many World's Best Teacher bugs that you can have, 223 00:09:56,880 --> 00:10:00,160 Speaker 4: because that's that's a really thoughtful, kind sweet gift. But 224 00:10:00,280 --> 00:10:02,160 Speaker 4: it's also I think one that a lot of people 225 00:10:02,320 --> 00:10:03,760 Speaker 4: go for when you go to our house. 226 00:10:03,840 --> 00:10:06,640 Speaker 2: Is it just like those are the only mugs truly 227 00:10:06,800 --> 00:10:08,360 Speaker 2: from turned out where all the. 228 00:10:10,679 --> 00:10:13,800 Speaker 4: My next win comes from Evelyn, who said money Win. 229 00:10:14,040 --> 00:10:16,880 Speaker 4: I won a Vinnie's gift card this week. I love 230 00:10:16,920 --> 00:10:19,120 Speaker 4: op shopping. I'm patiently waiting for it to come in 231 00:10:19,120 --> 00:10:21,520 Speaker 4: the mail, which I didn't even know that you didn't get. 232 00:10:21,360 --> 00:10:23,880 Speaker 2: No cards for the option. Yeah exactly. 233 00:10:24,240 --> 00:10:26,400 Speaker 4: I thought that was really fun because obviously we're all 234 00:10:26,440 --> 00:10:28,440 Speaker 4: kind of thinking about Christmas and gifting, and if you 235 00:10:28,520 --> 00:10:30,520 Speaker 4: know someone who loves op shopping, I feel like that's 236 00:10:30,520 --> 00:10:31,199 Speaker 4: a really. 237 00:10:31,080 --> 00:10:33,400 Speaker 2: Nice it's thoughtful it's really cool for. 238 00:10:33,520 --> 00:10:35,840 Speaker 4: Gift because if you give them even like a ten 239 00:10:35,920 --> 00:10:38,040 Speaker 4: or twenty dollars gift card, it's going to go quite 240 00:10:38,040 --> 00:10:40,760 Speaker 4: far at somewhere like an op shop compared to if 241 00:10:40,800 --> 00:10:44,520 Speaker 4: you just bought them one for glassons or something, which. 242 00:10:44,360 --> 00:10:45,640 Speaker 2: I thought was really really sweet. 243 00:10:45,679 --> 00:10:48,480 Speaker 4: My next win comes from Jess, who says, I'm engaged, 244 00:10:48,840 --> 00:10:49,760 Speaker 4: can grat. 245 00:10:49,640 --> 00:10:51,680 Speaker 2: I need like that a most fun time ever? 246 00:10:52,160 --> 00:10:55,240 Speaker 4: Well, she said she found a gorgeous modern wedding dress 247 00:10:55,320 --> 00:10:58,640 Speaker 4: in my size add an op shop for twenty dollars. 248 00:10:58,720 --> 00:11:02,679 Speaker 4: What twenty dollars is she missing a zero? Because that 249 00:11:02,840 --> 00:11:05,679 Speaker 4: is a money win if it's twenty bucks. 250 00:11:05,559 --> 00:11:07,199 Speaker 2: That's what I thought. We impressed. 251 00:11:07,240 --> 00:11:09,000 Speaker 4: We'd love to see a photo dress. Add a photo 252 00:11:09,000 --> 00:11:10,320 Speaker 4: to the throat so we can all have a little 253 00:11:10,320 --> 00:11:11,160 Speaker 4: bit of a sticky bit. 254 00:11:11,520 --> 00:11:13,839 Speaker 2: Now I've had my wedding, I absolutely am going to 255 00:11:13,880 --> 00:11:15,880 Speaker 2: be using an abusing wedding content like I want to 256 00:11:15,880 --> 00:11:17,640 Speaker 2: see all your dresses, I want to see all you styling. 257 00:11:17,640 --> 00:11:19,720 Speaker 2: I want to see everything, and it's really self serving, 258 00:11:19,760 --> 00:11:20,640 Speaker 2: but I'm not sorry. 259 00:11:20,920 --> 00:11:22,959 Speaker 4: Oh my gosh, we're all for it. It is wedding 260 00:11:22,960 --> 00:11:25,520 Speaker 4: season and I am loving it. And then my second 261 00:11:25,559 --> 00:11:28,160 Speaker 4: to last win I have comes from Caroline. She says 262 00:11:28,520 --> 00:11:31,000 Speaker 4: I saved nineteen dollars a month by switching my mobile 263 00:11:31,000 --> 00:11:33,920 Speaker 4: phone account to another provider. Plus I get more data 264 00:11:33,960 --> 00:11:37,040 Speaker 4: and my unused data rolls over each month. It might 265 00:11:37,080 --> 00:11:38,720 Speaker 4: not be much, but I'm on my own now and 266 00:11:38,800 --> 00:11:41,199 Speaker 4: have bought She's on the money, and set up my budget, 267 00:11:41,240 --> 00:11:43,200 Speaker 4: got a planner, and am ready to move forward in 268 00:11:43,200 --> 00:11:46,400 Speaker 4: the New Yark. Hi you queen, Yes, Caroline, you are 269 00:11:46,400 --> 00:11:48,440 Speaker 4: getting on top of it. You are taking control. And 270 00:11:48,480 --> 00:11:51,320 Speaker 4: you've also reminded me that I actually need to call 271 00:11:51,360 --> 00:11:53,440 Speaker 4: my insurance provider to see if they will do me 272 00:11:53,440 --> 00:11:55,440 Speaker 4: a better deal because I got my insurance renal and 273 00:11:55,600 --> 00:11:56,480 Speaker 4: it is expensive. 274 00:11:56,720 --> 00:11:59,280 Speaker 2: Yeah, always ask for a better deal. But also it's 275 00:11:59,320 --> 00:12:01,120 Speaker 2: coming up to the stiff season and a lot of 276 00:12:01,160 --> 00:12:03,079 Speaker 2: us have some time off. Now is the time to 277 00:12:03,120 --> 00:12:06,000 Speaker 2: review your phone plan because there are so many cheap 278 00:12:06,000 --> 00:12:08,600 Speaker 2: ones out there, like I basically have. I think it's 279 00:12:08,600 --> 00:12:10,439 Speaker 2: like one hundred and fifty gig of data for forty 280 00:12:10,440 --> 00:12:12,199 Speaker 2: five bucks a month, and I think that's a money win. 281 00:12:12,400 --> 00:12:14,640 Speaker 2: But I also know I could get it cheaper. Do 282 00:12:14,720 --> 00:12:16,880 Speaker 2: I need to? I don't know. Forty five bucks a 283 00:12:16,880 --> 00:12:19,360 Speaker 2: month is pretty good, but like, if yours is more 284 00:12:19,400 --> 00:12:21,800 Speaker 2: than that, I absolutely would be reviewing it because I 285 00:12:21,800 --> 00:12:24,520 Speaker 2: feel like, especially at Christmas time, there are heaps of 286 00:12:24,600 --> 00:12:27,680 Speaker 2: deals flying around to save some money on your phone plan. 287 00:12:28,080 --> 00:12:29,320 Speaker 2: I fully agree. 288 00:12:29,360 --> 00:12:31,080 Speaker 4: And if you've got the extra time off, what better 289 00:12:31,080 --> 00:12:32,840 Speaker 4: way to spend it than by saving yourself some money. 290 00:12:32,840 --> 00:12:35,840 Speaker 4: You're gonna feel good and future you is one thousand 291 00:12:35,880 --> 00:12:39,079 Speaker 4: percent going to thank you. The very last money win 292 00:12:39,200 --> 00:12:41,440 Speaker 4: that I have today is from Rihanna, and she said 293 00:12:41,440 --> 00:12:43,400 Speaker 4: money win. I caught up with a friend last week 294 00:12:43,440 --> 00:12:45,760 Speaker 4: and he shouted me a coffee. It's the little things 295 00:12:45,760 --> 00:12:46,240 Speaker 4: that make. 296 00:12:46,120 --> 00:12:49,000 Speaker 2: Your day money. When I got a free coffee this 297 00:12:49,080 --> 00:12:50,840 Speaker 2: week too, that's absolutely money win. 298 00:12:50,920 --> 00:12:51,079 Speaker 3: Yeah. 299 00:12:51,080 --> 00:12:52,800 Speaker 2: I found one of those ticket you know, like the 300 00:12:52,920 --> 00:12:55,720 Speaker 2: coffee cards down the side of the car, which fools. Yeah, 301 00:12:55,760 --> 00:12:58,760 Speaker 2: next one free money win. Oh my gosh, makes your day? 302 00:12:58,920 --> 00:13:01,080 Speaker 2: All right, Jess, it is time to wrap it. As always, 303 00:13:01,120 --> 00:13:03,559 Speaker 2: it has been great celebrating some of your budget Direct 304 00:13:03,640 --> 00:13:06,440 Speaker 2: money wins. Budget Direct winner of can Star's Insurer of 305 00:13:06,480 --> 00:13:14,199 Speaker 2: the Year Award twenty twenty two. Budget Direct Insurance solved. 306 00:13:14,840 --> 00:13:17,920 Speaker 4: All right, everybody, today, I have a kind of really 307 00:13:18,000 --> 00:13:19,480 Speaker 4: exciting it's really exciting. 308 00:13:19,520 --> 00:13:22,200 Speaker 2: What do you mean kind of super exciting? I cannot wait. 309 00:13:22,240 --> 00:13:24,240 Speaker 2: I feel like I have been jumping up and down 310 00:13:24,280 --> 00:13:26,640 Speaker 2: about this for years. I had a video go viral 311 00:13:26,720 --> 00:13:29,719 Speaker 2: on TikTok about this. Yeah, and by viral, I mean 312 00:13:29,720 --> 00:13:31,800 Speaker 2: like not as viral as everybody else's videos, but like 313 00:13:31,840 --> 00:13:33,920 Speaker 2: I mean a million views. That was pretty good. But 314 00:13:34,120 --> 00:13:36,040 Speaker 2: what is it, Jess? What are we talking about today? 315 00:13:36,320 --> 00:13:40,120 Speaker 4: So some new industrial relation laws have passed through Parliament 316 00:13:40,120 --> 00:13:42,800 Speaker 4: this week, which there's a whole bunch of different things 317 00:13:42,800 --> 00:13:45,200 Speaker 4: that are kind of covered off in these reforms, But 318 00:13:45,280 --> 00:13:47,520 Speaker 4: the big two that I want to talk about today 319 00:13:47,960 --> 00:13:52,080 Speaker 4: are pay secrecy and flexibility. Pay secrecies banded in Australia. 320 00:13:52,920 --> 00:13:56,040 Speaker 4: Spoiler alert. It's so exciting. This is something we've spoken 321 00:13:56,040 --> 00:13:58,439 Speaker 4: about heats on this show. If you're not familiar. Pay 322 00:13:58,480 --> 00:14:01,080 Speaker 4: secrecy is essentially just a laws that is included in 323 00:14:01,120 --> 00:14:04,880 Speaker 4: some people's contracts that expressly prohibits people from discussing their 324 00:14:04,920 --> 00:14:08,079 Speaker 4: salary with other employees or people external to the company. 325 00:14:08,400 --> 00:14:10,840 Speaker 4: And if you're going, gee, Jess, why why would they 326 00:14:10,840 --> 00:14:13,640 Speaker 4: put that in there to protect themselves, to stop people 327 00:14:13,640 --> 00:14:17,200 Speaker 4: from saying, hey, I'm earning fifty five thousand dollars and 328 00:14:17,200 --> 00:14:19,240 Speaker 4: this other person being like, oh my god, I'm doing 329 00:14:19,240 --> 00:14:21,120 Speaker 4: the exact same job as you, and I'm earning eighty 330 00:14:21,160 --> 00:14:23,840 Speaker 4: thousand dollars. That is a joke if that happened, because 331 00:14:23,840 --> 00:14:26,120 Speaker 4: in that so trio, the person on the fifty five 332 00:14:26,120 --> 00:14:28,640 Speaker 4: thousand dollars is going to be like, well, that's not fair. 333 00:14:28,800 --> 00:14:30,400 Speaker 2: I'm doing the same job time. 334 00:14:30,560 --> 00:14:34,000 Speaker 4: It is so eg It is really exploitative, and you 335 00:14:34,040 --> 00:14:36,360 Speaker 4: know that law. I think when we've spoken about in 336 00:14:36,360 --> 00:14:39,360 Speaker 4: the past, we've said it really only exists to protect companies. 337 00:14:39,400 --> 00:14:42,200 Speaker 4: It doesn't do anything to protect employees. All it does 338 00:14:42,320 --> 00:14:45,200 Speaker 4: is gag you essentially and stop you from being able 339 00:14:45,200 --> 00:14:47,840 Speaker 4: to figure out what you're worth, but also what other 340 00:14:47,880 --> 00:14:50,480 Speaker 4: people are worth as well, and it stops things from 341 00:14:50,640 --> 00:14:53,680 Speaker 4: people unionizing and banding together and kind of, you know, 342 00:14:54,400 --> 00:14:57,560 Speaker 4: working as a team to increase everybody's position. 343 00:14:58,080 --> 00:15:00,720 Speaker 2: The I want to be in a better position exactly. 344 00:15:00,760 --> 00:15:03,160 Speaker 2: It's insane to me that this hasn't happened earlier. But 345 00:15:03,160 --> 00:15:05,240 Speaker 2: I'm really excited about it because I was reading something 346 00:15:05,360 --> 00:15:08,200 Speaker 2: last weekend about how you remember ages ago, Jess. We 347 00:15:08,280 --> 00:15:09,920 Speaker 2: talked on the podcast. I don't know if it was 348 00:15:09,960 --> 00:15:12,640 Speaker 2: pre you or it was with you, because I live 349 00:15:12,680 --> 00:15:15,120 Speaker 2: in a bubble. But we're talking about how it's going 350 00:15:15,200 --> 00:15:17,000 Speaker 2: to take one hundred and fifty years to close the 351 00:15:17,080 --> 00:15:19,440 Speaker 2: gender pay gap. So we're talking about that, and it 352 00:15:19,480 --> 00:15:21,960 Speaker 2: has now been increased to two hundred years because during 353 00:15:21,960 --> 00:15:27,160 Speaker 2: COVID we went significantly backwards and that really sucks. But 354 00:15:27,280 --> 00:15:30,400 Speaker 2: something that plays into that genuinely is pay secrecy. And 355 00:15:30,440 --> 00:15:32,800 Speaker 2: if you're listening to this thinking, oh, that's not a 356 00:15:32,840 --> 00:15:35,720 Speaker 2: thing like I've always been open about it, lucky you, 357 00:15:36,120 --> 00:15:39,000 Speaker 2: because so many people are in that position. If you're 358 00:15:39,080 --> 00:15:41,800 Speaker 2: a nurse or you are a teacher, often your salary 359 00:15:41,960 --> 00:15:45,160 Speaker 2: is really transparent because you're on an award and that's 360 00:15:45,200 --> 00:15:47,360 Speaker 2: great and you can talk about that and you know 361 00:15:47,440 --> 00:15:49,600 Speaker 2: how to predict, well, if I go up this level 362 00:15:49,680 --> 00:15:51,920 Speaker 2: or I'm in this band, this is what this will mean. 363 00:15:52,120 --> 00:15:55,440 Speaker 2: But there are so many things in so many industries 364 00:15:55,480 --> 00:15:58,480 Speaker 2: that stop people talking about their incomes or talking about 365 00:15:58,480 --> 00:16:02,920 Speaker 2: their remuneration. And think that is wildly unfair, because today 366 00:16:03,040 --> 00:16:05,760 Speaker 2: the gender pay gap in Australia is still twenty two 367 00:16:05,840 --> 00:16:09,240 Speaker 2: point eight percent, which is way too many percent for me. 368 00:16:09,640 --> 00:16:13,000 Speaker 2: But the exciting thing about banning pay secrecy is hopefully 369 00:16:13,080 --> 00:16:15,840 Speaker 2: we can follow suit with Canada who found that once 370 00:16:15,880 --> 00:16:19,440 Speaker 2: they banned pay secrecy, they found that the gender pay 371 00:16:19,480 --> 00:16:21,880 Speaker 2: gap between men and women was reduced by twenty to 372 00:16:21,960 --> 00:16:25,640 Speaker 2: forty percent. Wow, how easy is that? Like, just talking 373 00:16:25,680 --> 00:16:29,160 Speaker 2: about your salary puts us in a twenty to forty 374 00:16:29,200 --> 00:16:30,480 Speaker 2: percent better off position. 375 00:16:30,680 --> 00:16:33,520 Speaker 4: That crazy, And the gender pay gap is really central 376 00:16:33,600 --> 00:16:36,160 Speaker 4: to this updated bill, which is the Secure Job's Better 377 00:16:36,160 --> 00:16:38,760 Speaker 4: Pay Bill if you would like to look up the reforms. 378 00:16:39,040 --> 00:16:41,800 Speaker 4: And another really significant factor I guess that we talk 379 00:16:41,840 --> 00:16:44,400 Speaker 4: about in terms of that gender pay gap is caring 380 00:16:44,440 --> 00:16:45,960 Speaker 4: and how a lot of the time women have to 381 00:16:46,000 --> 00:16:48,840 Speaker 4: take time out of the workplace because statistically we know 382 00:16:48,920 --> 00:16:50,920 Speaker 4: that more often than not they're the primary cares. You 383 00:16:50,960 --> 00:16:52,880 Speaker 4: have to take time off at a minimum if you're 384 00:16:52,920 --> 00:16:55,560 Speaker 4: giving birth, let alone, if you're the person who's going 385 00:16:55,600 --> 00:16:57,200 Speaker 4: to be staying at home with the kids. And so 386 00:16:57,240 --> 00:16:59,720 Speaker 4: another element of this reform that I'm really excited about 387 00:16:59,720 --> 00:17:02,320 Speaker 4: Percon is they've now made it so that it is 388 00:17:02,400 --> 00:17:06,880 Speaker 4: illegal for an employer to unreasonably refuse flexible working options. 389 00:17:06,960 --> 00:17:09,920 Speaker 4: So for our working parents who can't afford to put 390 00:17:09,920 --> 00:17:11,720 Speaker 4: their kids in daycare every day, I think is a 391 00:17:11,720 --> 00:17:13,919 Speaker 4: common example we see in the group because daycare is 392 00:17:14,200 --> 00:17:16,560 Speaker 4: so expensive, well after school care, if you've got a kid, 393 00:17:16,800 --> 00:17:18,120 Speaker 4: I believe. 394 00:17:17,960 --> 00:17:20,600 Speaker 2: How expensive it is. And you know, not to throw 395 00:17:20,680 --> 00:17:22,680 Speaker 2: my business partner Cage under the bus, but I was 396 00:17:22,760 --> 00:17:24,199 Speaker 2: having a chat with her the other day, and she 397 00:17:24,280 --> 00:17:27,640 Speaker 2: has two beautiful little boys who both go to day 398 00:17:27,680 --> 00:17:31,200 Speaker 2: care full time because they have working parents. I could 399 00:17:31,240 --> 00:17:34,119 Speaker 2: not believe how expensive it was. It's basically a mortgage 400 00:17:34,160 --> 00:17:37,879 Speaker 2: repayment for them. And I'm so grateful and very happy 401 00:17:37,880 --> 00:17:40,119 Speaker 2: that they're in a position where, you know, that's affordable 402 00:17:40,119 --> 00:17:42,280 Speaker 2: and it makes sense and she can go to work 403 00:17:42,320 --> 00:17:44,760 Speaker 2: and you know, earn an income. But for so many people, 404 00:17:45,040 --> 00:17:48,040 Speaker 2: the finances just don't stack up. Now. Having your kid 405 00:17:48,119 --> 00:17:51,360 Speaker 2: in daycare is just redundant because you're like, well, at 406 00:17:51,359 --> 00:17:53,640 Speaker 2: the end of the day, I might be taking home 407 00:17:53,840 --> 00:17:56,960 Speaker 2: less than I was before just to have them in care. 408 00:17:57,040 --> 00:18:00,080 Speaker 2: And to me, that seems honestly insane, you know. So 409 00:18:00,119 --> 00:18:02,440 Speaker 2: there's so many questions I have around that as well, 410 00:18:02,640 --> 00:18:06,320 Speaker 2: because we know already just that daycare employees do not 411 00:18:06,560 --> 00:18:09,600 Speaker 2: get paid well enough, any type of childcare doesn't get 412 00:18:09,640 --> 00:18:12,320 Speaker 2: paid enough. But then where's all this money going the 413 00:18:12,400 --> 00:18:14,560 Speaker 2: childcare center? Or yeah, do you know what I mean? 414 00:18:14,600 --> 00:18:15,720 Speaker 2: Like you just look at it and you're like, how 415 00:18:15,760 --> 00:18:18,520 Speaker 2: many kids would you have at you know, one hundred 416 00:18:18,520 --> 00:18:20,719 Speaker 2: and thirty one hundred and forty bucks a day, Like 417 00:18:20,760 --> 00:18:21,399 Speaker 2: what the heck? 418 00:18:21,640 --> 00:18:23,639 Speaker 4: Yeah, it's huge amounts of money. And for a lot 419 00:18:23,680 --> 00:18:25,760 Speaker 4: of people, that's why it is really hard for women 420 00:18:25,960 --> 00:18:28,040 Speaker 4: or primary cares to get back into the workforce. And 421 00:18:28,080 --> 00:18:32,840 Speaker 4: so by making it unlawful for employers to unreasonably refuse flexibility, 422 00:18:32,880 --> 00:18:35,119 Speaker 4: I think it's going to make a huge difference because 423 00:18:35,240 --> 00:18:37,480 Speaker 4: not every industry, unfortunately, is going to be able to 424 00:18:37,560 --> 00:18:40,720 Speaker 4: work flexibly. It's one of those hard catch twenty twos, 425 00:18:40,720 --> 00:18:42,920 Speaker 4: I guess when you talk about things like this, But 426 00:18:42,960 --> 00:18:45,879 Speaker 4: for a lot of parents who work corporately, or a 427 00:18:45,880 --> 00:18:49,359 Speaker 4: lot of people who work in maybe industries that aren't 428 00:18:49,520 --> 00:18:52,359 Speaker 4: directly service based, it's going to make a world of 429 00:18:52,400 --> 00:18:55,199 Speaker 4: difference by allowing them to hopefully work from home or 430 00:18:55,320 --> 00:18:57,199 Speaker 4: leave to pick up the kids and then work the 431 00:18:57,240 --> 00:18:59,359 Speaker 4: remainder of the day from home. There are so many options, 432 00:18:59,400 --> 00:19:01,840 Speaker 4: and we've spoken lot on the podcast about the fact 433 00:19:01,960 --> 00:19:05,520 Speaker 4: that flexibility really should be a standard. You know, if 434 00:19:05,520 --> 00:19:07,320 Speaker 4: you trust your employees and if they're doing well, it 435 00:19:07,359 --> 00:19:09,680 Speaker 4: shouldn't be an issue for them to be able to 436 00:19:09,720 --> 00:19:11,199 Speaker 4: go pick their kids up, or to be able to 437 00:19:11,200 --> 00:19:13,200 Speaker 4: go to a doctor's appointment if they're pregnant, or to 438 00:19:13,240 --> 00:19:15,679 Speaker 4: be able to go and see somebody if they're like 439 00:19:15,800 --> 00:19:18,960 Speaker 4: really stressed about their mental health. Like making time for 440 00:19:19,000 --> 00:19:21,840 Speaker 4: those things in their day to day life is important, 441 00:19:22,240 --> 00:19:25,520 Speaker 4: and I'm really excited to see laws and reforms being 442 00:19:25,520 --> 00:19:28,639 Speaker 4: brought in to support those people in a way that 443 00:19:28,760 --> 00:19:29,760 Speaker 4: previously they weren't. 444 00:19:29,920 --> 00:19:34,440 Speaker 2: It's interesting because obviously conversations like these weren't happening pre COVID, 445 00:19:35,119 --> 00:19:39,280 Speaker 2: and I remember having conversations with people and I'd say, oh, 446 00:19:39,320 --> 00:19:41,320 Speaker 2: we should let people work from homeland or two days 447 00:19:41,320 --> 00:19:44,399 Speaker 2: a week, and I was shut down so quickly. I 448 00:19:44,440 --> 00:19:48,080 Speaker 2: was absolutely not. People are not productive at home, absolutely not. 449 00:19:48,160 --> 00:19:51,119 Speaker 2: They'll take an into run a mile like it's insane, 450 00:19:51,240 --> 00:19:53,600 Speaker 2: and I just remember being like, oh, I really don't 451 00:19:53,600 --> 00:19:55,680 Speaker 2: think so. Like I remember when I would work from 452 00:19:55,680 --> 00:19:58,760 Speaker 2: home back then, they were my most productive days because 453 00:19:58,760 --> 00:20:01,639 Speaker 2: no one was pestering me or you're asking questions, and 454 00:20:01,680 --> 00:20:04,159 Speaker 2: I could just smash through a whole day's worth of 455 00:20:04,200 --> 00:20:07,840 Speaker 2: work and I'd feel super caught up. And now post COVID, 456 00:20:07,880 --> 00:20:10,159 Speaker 2: I'm having conversations with friends and just I had a 457 00:20:10,160 --> 00:20:13,400 Speaker 2: conversation with someone last weekend and they were like, yeah, 458 00:20:13,720 --> 00:20:16,560 Speaker 2: like an email went out in our team this week 459 00:20:16,720 --> 00:20:19,200 Speaker 2: that said all managers and this person was a manager, 460 00:20:19,480 --> 00:20:21,440 Speaker 2: have to be in at work five days a week 461 00:20:21,560 --> 00:20:24,440 Speaker 2: next week. You know, They've finally renovated the offices and 462 00:20:25,160 --> 00:20:27,240 Speaker 2: they want to make use of them. And I'm just like, oh, 463 00:20:27,320 --> 00:20:29,760 Speaker 2: this is going to go so backwards for them if 464 00:20:29,760 --> 00:20:33,320 Speaker 2: they are demanding that people who were performing their jobs 465 00:20:33,320 --> 00:20:36,399 Speaker 2: perfectly well from home. You know, I'm not expecting that 466 00:20:36,480 --> 00:20:38,760 Speaker 2: every single company says, oh, we don't need to have 467 00:20:38,800 --> 00:20:41,560 Speaker 2: an office at all, Like yeah, cool, expect people to 468 00:20:41,600 --> 00:20:43,080 Speaker 2: come in one or two days a week or three 469 00:20:43,200 --> 00:20:45,600 Speaker 2: or four or whatever it is. But to remove all 470 00:20:45,680 --> 00:20:49,080 Speaker 2: flexibility once people have crafted their lives around having some 471 00:20:49,240 --> 00:20:51,520 Speaker 2: level of flexibility just seems a bit cruel to me. 472 00:20:51,680 --> 00:20:54,440 Speaker 2: Like it just doesn't make sense unless there's an issue 473 00:20:54,440 --> 00:20:56,879 Speaker 2: where I have to sit someone down and say, oh, 474 00:20:56,920 --> 00:21:00,320 Speaker 2: my gosh, you are being not productive at home. Actually 475 00:21:00,400 --> 00:21:04,040 Speaker 2: need an office? Yes, Like why is there an issue? 476 00:21:04,200 --> 00:21:04,760 Speaker 2: I agree? 477 00:21:04,800 --> 00:21:07,600 Speaker 4: And so I'm really stoked about these changes and to 478 00:21:07,600 --> 00:21:09,239 Speaker 4: see how they kind of roll out and how they 479 00:21:09,280 --> 00:21:11,240 Speaker 4: impact people, because I think We're going to see some 480 00:21:11,280 --> 00:21:14,000 Speaker 4: really positive outcomes and steps in the right direction, which 481 00:21:14,040 --> 00:21:14,960 Speaker 4: is so exciting. 482 00:21:15,480 --> 00:21:17,639 Speaker 2: All right, Jess, We could go on and on about 483 00:21:17,640 --> 00:21:20,320 Speaker 2: this literally forever, and I feel like we still will 484 00:21:20,320 --> 00:21:22,600 Speaker 2: because we're still two hundred years away from our gender 485 00:21:22,640 --> 00:21:25,320 Speaker 2: equality when it comes to pay. So we've got a 486 00:21:25,320 --> 00:21:27,240 Speaker 2: little bit of time, but we don't have much time 487 00:21:27,280 --> 00:21:32,560 Speaker 2: left on the show, so let's jump into our listener question. Hi, there, 488 00:21:32,880 --> 00:21:35,119 Speaker 2: have you got a money dilemma you just can't solve? 489 00:21:35,280 --> 00:21:37,480 Speaker 2: The She's on the Money team is here to help. 490 00:21:37,800 --> 00:21:40,800 Speaker 2: Every week, we tackle your dilemmas, both big and small, 491 00:21:40,880 --> 00:21:43,960 Speaker 2: to answer your most burning money, career and life questions. 492 00:21:44,160 --> 00:21:46,640 Speaker 2: To get involved, simply head to our website and leave 493 00:21:46,720 --> 00:21:48,840 Speaker 2: us a short voice recording and you might just find 494 00:21:48,880 --> 00:21:51,520 Speaker 2: yourself on the show. Now, let's take a listen to 495 00:21:51,640 --> 00:21:52,840 Speaker 2: this week's money dilemma. 496 00:21:54,359 --> 00:21:57,200 Speaker 5: Hi, ladies, I'm hoping for some practical advice on prenows. 497 00:21:57,240 --> 00:21:59,240 Speaker 5: I'm thirty years old and I've been in a relationship 498 00:21:59,280 --> 00:22:01,960 Speaker 5: for four years of my amazing fiance. I was lucky 499 00:22:02,040 --> 00:22:04,959 Speaker 5: enough to receive inheritance from my grandparents of one million dollars, 500 00:22:05,119 --> 00:22:07,359 Speaker 5: which I bought a house with six years ago. My 501 00:22:07,440 --> 00:22:09,320 Speaker 5: partner now lives with me and we currently own the 502 00:22:09,320 --> 00:22:11,639 Speaker 5: same amount. We both agreed that a prenup would be 503 00:22:11,680 --> 00:22:14,119 Speaker 5: a good idea to protect the inheritance, particularly as our 504 00:22:14,160 --> 00:22:16,000 Speaker 5: next step is to sell the house I own and 505 00:22:16,119 --> 00:22:18,439 Speaker 5: use that money to buy one together. We recently went 506 00:22:18,440 --> 00:22:20,080 Speaker 5: through the process of trying to get a prenup and 507 00:22:20,080 --> 00:22:22,679 Speaker 5: found it impossible. We both had lawyers, However, we had 508 00:22:22,680 --> 00:22:25,919 Speaker 5: to specify every possible situation in our future relationship, from 509 00:22:26,000 --> 00:22:28,159 Speaker 5: divorce to custody of children to what happens if one 510 00:22:28,200 --> 00:22:30,359 Speaker 5: of us passes away. We weren't able to write up 511 00:22:30,400 --> 00:22:32,359 Speaker 5: a simple agreement to carve out the one million dollars 512 00:22:32,400 --> 00:22:35,000 Speaker 5: and split everything else equally, How are we able to 513 00:22:35,000 --> 00:22:36,840 Speaker 5: make a prenup practically work for us? 514 00:22:37,160 --> 00:22:40,400 Speaker 2: Thanks, I'm interested to hear that it was a hard 515 00:22:40,400 --> 00:22:43,679 Speaker 2: process even though you both had lawyers. Yeah, that feels 516 00:22:43,680 --> 00:22:46,199 Speaker 2: overwhelming and maybe makes me feel like you didn't have 517 00:22:46,280 --> 00:22:48,320 Speaker 2: the right team. 518 00:22:47,720 --> 00:22:50,320 Speaker 4: Potentially because you kind of think you bring in those 519 00:22:50,400 --> 00:22:52,240 Speaker 4: kind of people to take it off of your plate. 520 00:22:52,280 --> 00:22:55,000 Speaker 2: Really well, Yeah, so I can understand where they're coming from, 521 00:22:55,080 --> 00:22:57,560 Speaker 2: because historically I've worked with a lot of estate planning 522 00:22:57,640 --> 00:23:01,919 Speaker 2: lawyers who maybe aren't the fit for people, but have 523 00:23:02,040 --> 00:23:06,119 Speaker 2: been really technically gifted, so really good at writing prenups, 524 00:23:06,200 --> 00:23:09,040 Speaker 2: really good at doing the estate planning process, but actually 525 00:23:09,040 --> 00:23:11,760 Speaker 2: need to be spoon fed. And there's times where as 526 00:23:11,760 --> 00:23:14,160 Speaker 2: a finance when I was working as a financial advisor, 527 00:23:14,200 --> 00:23:16,119 Speaker 2: I would actually sit down with my clients and do 528 00:23:16,200 --> 00:23:18,400 Speaker 2: a lot of the prep so that it could then 529 00:23:18,520 --> 00:23:21,800 Speaker 2: go to an estate planning lawyer to write up the prenup. However, 530 00:23:21,960 --> 00:23:24,960 Speaker 2: I do think it's really important the areas you said, oh, 531 00:23:25,040 --> 00:23:27,840 Speaker 2: we had to think about every possible outcome. Yeah, that's 532 00:23:27,880 --> 00:23:30,879 Speaker 2: what a prenup is. It's thinking about every possible outcome 533 00:23:30,920 --> 00:23:33,080 Speaker 2: and being on the same page about that, so you 534 00:23:33,200 --> 00:23:35,639 Speaker 2: come to a reasonable conclusion when you're both in the 535 00:23:35,640 --> 00:23:38,399 Speaker 2: same headspace as to what an outcome will look like. 536 00:23:38,600 --> 00:23:42,199 Speaker 2: Because God forbids something happened to you yesterday and you 537 00:23:42,240 --> 00:23:44,959 Speaker 2: did pass away, and your partner's making decisions about you 538 00:23:45,080 --> 00:23:47,919 Speaker 2: and your future children. How good is it that your 539 00:23:48,040 --> 00:23:51,080 Speaker 2: wishes and your thoughts are now documented in this document 540 00:23:51,400 --> 00:23:53,919 Speaker 2: of what you would have wanted to happen. So I 541 00:23:53,960 --> 00:23:56,560 Speaker 2: do think it's really important to take that into consideration. 542 00:23:56,640 --> 00:23:59,119 Speaker 2: And I do have a sneaky little feeling that maybe 543 00:23:59,160 --> 00:24:01,480 Speaker 2: you went along and just hoped for a prenup that said, 544 00:24:01,800 --> 00:24:05,040 Speaker 2: if we get divorced or if our relationship doesn't work out, 545 00:24:05,119 --> 00:24:08,119 Speaker 2: I get my more one million dollars back, which is 546 00:24:08,240 --> 00:24:10,840 Speaker 2: just not how estate planning works because there are so 547 00:24:10,920 --> 00:24:14,400 Speaker 2: many factors to be taken into consideration. So, for example, 548 00:24:14,560 --> 00:24:16,280 Speaker 2: if you broke up a year from now and your 549 00:24:16,280 --> 00:24:18,920 Speaker 2: relationship hadn't changed yet, it could be quite cut and 550 00:24:19,000 --> 00:24:21,400 Speaker 2: dry and you probably would get your money back if 551 00:24:21,400 --> 00:24:24,480 Speaker 2: you had signed a prenup. However, if down the track, 552 00:24:24,520 --> 00:24:27,840 Speaker 2: you have dependence that's not going to be split equally, 553 00:24:27,880 --> 00:24:29,920 Speaker 2: and you get it all back because there are people 554 00:24:29,920 --> 00:24:33,360 Speaker 2: who are dependent on your care and your future husband's care. 555 00:24:33,680 --> 00:24:37,040 Speaker 2: So it's really interesting, and I think that the best 556 00:24:37,040 --> 00:24:39,240 Speaker 2: way to organize a prenup is actually to sit down 557 00:24:39,280 --> 00:24:41,960 Speaker 2: with your partner and go through all of those segments. Well, 558 00:24:42,000 --> 00:24:44,000 Speaker 2: what happens if one of us cheats on one another? 559 00:24:44,280 --> 00:24:47,639 Speaker 2: Does that change the outcome of this prenup? What happens 560 00:24:47,640 --> 00:24:50,240 Speaker 2: if we have an amicable divorce, what happens if one 561 00:24:50,240 --> 00:24:54,000 Speaker 2: of us passes away prematurely? Because in estate planning, it's 562 00:24:54,040 --> 00:24:56,440 Speaker 2: not just what you currently have, but now we also 563 00:24:56,520 --> 00:24:58,600 Speaker 2: need to be thinking about life insurance and well what 564 00:24:58,680 --> 00:25:01,919 Speaker 2: happens if you're totally impermanent disabled, like who's going to 565 00:25:01,960 --> 00:25:04,959 Speaker 2: look after you? How do your decisions and your wishes 566 00:25:05,000 --> 00:25:08,080 Speaker 2: play into this. So it is actually quite a comprehensive 567 00:25:08,119 --> 00:25:10,920 Speaker 2: process to go through, so I'm not surprised it can 568 00:25:11,000 --> 00:25:13,640 Speaker 2: be a little bit overwhelming. But one thing I would 569 00:25:13,720 --> 00:25:17,840 Speaker 2: say is your professionals that are helping you should be 570 00:25:17,960 --> 00:25:20,879 Speaker 2: on your team. So we've spoken to and if you 571 00:25:20,920 --> 00:25:23,960 Speaker 2: haven't heard from Lucy from Head and Heart's Estate Planning before, 572 00:25:24,359 --> 00:25:26,680 Speaker 2: obviously we recommend her. I used to work with her 573 00:25:26,680 --> 00:25:29,920 Speaker 2: when I was a professional financial advisor and she would 574 00:25:29,960 --> 00:25:32,600 Speaker 2: do my clients wills. She's done mine, so like I 575 00:25:32,640 --> 00:25:35,360 Speaker 2: do trust her, But she does work in a bit 576 00:25:35,359 --> 00:25:37,480 Speaker 2: of a different way. So maybe you're looking for someone 577 00:25:37,520 --> 00:25:41,000 Speaker 2: with a different personality. Maybe you don't actually need two 578 00:25:41,080 --> 00:25:44,760 Speaker 2: separate lawyers to pull together a prenup when you are 579 00:25:44,880 --> 00:25:47,120 Speaker 2: actually on the same page. You just need a prenup 580 00:25:47,160 --> 00:25:49,680 Speaker 2: to sit down and go, Okay, one lawyer can put 581 00:25:49,680 --> 00:25:52,119 Speaker 2: this together. These are our wishes, let's sign it and 582 00:25:52,160 --> 00:25:54,919 Speaker 2: put it on file. So from my perspective, it really 583 00:25:55,000 --> 00:25:58,280 Speaker 2: just depends on what outcome you're looking for, and if 584 00:25:58,320 --> 00:26:01,560 Speaker 2: your partner's really agreeable on having the prenup, you're ninety 585 00:26:01,640 --> 00:26:03,879 Speaker 2: nine percent of the way there. Because most people have 586 00:26:03,920 --> 00:26:05,800 Speaker 2: an issue where they're trying to sit down and go, Jess, 587 00:26:05,800 --> 00:26:07,680 Speaker 2: I want a prenup and Jess is like, that's offensive. 588 00:26:07,720 --> 00:26:10,520 Speaker 2: I can't believe you'd want that. So it can be 589 00:26:10,600 --> 00:26:12,840 Speaker 2: a fickle process. But if your partner's already on the 590 00:26:12,840 --> 00:26:15,960 Speaker 2: same page, to be honest, don't mean to be rude, 591 00:26:16,000 --> 00:26:18,160 Speaker 2: but I'd be looking for some new planners. 592 00:26:18,480 --> 00:26:20,800 Speaker 4: Yeah, no, one hundred percent. You want to be comfy 593 00:26:20,800 --> 00:26:24,600 Speaker 4: because you're talking about really hard things. But I actually 594 00:26:24,680 --> 00:26:26,639 Speaker 4: feel like that was very well said. I'm sorry, anything 595 00:26:26,680 --> 00:26:27,240 Speaker 4: to add to that. 596 00:26:27,400 --> 00:26:31,480 Speaker 2: Sorry, sorry, sorry, Yeah, I mean a state not anymore, 597 00:26:31,600 --> 00:26:34,760 Speaker 2: not anymore, she's not registered, but she still has opinions. 598 00:26:34,880 --> 00:26:35,640 Speaker 2: Oh there you go. 599 00:26:35,880 --> 00:26:37,520 Speaker 4: I feel like it's just about time that we skid 600 00:26:37,560 --> 00:26:39,520 Speaker 4: out aloud of here. But before we go, I know 601 00:26:39,560 --> 00:26:41,080 Speaker 4: that it's Christmas time. I know a lot of us 602 00:26:41,080 --> 00:26:43,000 Speaker 4: are feeling stressed because I'm seeing the posts and the 603 00:26:43,000 --> 00:26:44,280 Speaker 4: comments in the Facebook group. 604 00:26:44,440 --> 00:26:45,959 Speaker 2: So I just wanted to give your little heads up. 605 00:26:46,200 --> 00:26:48,000 Speaker 4: Next week we're going to be tackling all of the 606 00:26:48,040 --> 00:26:50,840 Speaker 4: social and financial anxieties that you might be feeling about 607 00:26:50,920 --> 00:26:53,040 Speaker 4: Christmas and kind of give you a little helping hand 608 00:26:53,080 --> 00:26:53,639 Speaker 4: to get through it. 609 00:26:53,760 --> 00:26:55,040 Speaker 2: Genius. I love it. 610 00:26:55,119 --> 00:26:55,199 Speaker 1: Al. 611 00:26:55,520 --> 00:26:57,679 Speaker 2: Have a good weekend, my angels, and we'll see you 612 00:26:57,720 --> 00:27:06,639 Speaker 2: next week. See then. 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Sheper 620 00:27:31,040 --> 00:27:35,280 Speaker 2: pty Ltd ABN three two one six four nine two 621 00:27:35,320 --> 00:27:39,200 Speaker 2: seven seven zero eight AFSL four five one two eight 622 00:27:39,320 --> 00:27:41,919 Speaker 2: nine