WEBVTT - FRIDAY DRINKS: (Pay) Secrets Be Gone! 0:00:00.640 --> 0:00:04.880 Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 0:00:04.920 --> 0:00:08.639 the Order KERNI Whoalbury and a waddery woman. And before 0:00:08.640 --> 0:00:11.119 we get started on She's on the Money podcast, I 0:00:11.160 --> 0:00:14.280 would like to acknowledge the traditional custodians of the land 0:00:14.400 --> 0:00:18.079 of which this podcast is recorded on a wondery country, 0:00:18.120 --> 0:00:22.240 acknowledging the elders, the ancestors and the next generation coming 0:00:22.280 --> 0:00:26.960 through as this podcast is about connecting, empowering, knowledge sharing 0:00:27.040 --> 0:00:30.080 and the storytelling of you to make a difference for 0:00:30.200 --> 0:00:32.599 today and lasting impact for tomorrow. 0:00:33.280 --> 0:00:34.080 Let's get into it. 0:00:34.760 --> 0:00:54.000 She's on the Money, She's on the Money. 0:00:57.760 --> 0:01:00.360 Hello, and welcome to She's on the Money. Need the 0:01:00.400 --> 0:01:04.480 podcast for millennials who want financial freedom. Today, my friends, 0:01:04.520 --> 0:01:06.920 is Friday, which means it is time to sit back 0:01:06.959 --> 0:01:09.319 with the girls, I Ate, Jess and I with a 0:01:09.360 --> 0:01:12.360 bev in hand, to unpack our favorite moments from the week, 0:01:12.400 --> 0:01:15.520 and of course, to celebrate you, our incredible She's on 0:01:15.520 --> 0:01:18.080 the Money community. As always, we're going to be sharing 0:01:18.080 --> 0:01:20.240 our favorite money weeds. We're going to be discussing what's 0:01:20.280 --> 0:01:23.279 making news in the finance world, and we'll be helping 0:01:23.319 --> 0:01:26.039 to answer a juicy money Question, which this week is 0:01:26.080 --> 0:01:29.080 all about prenups, but first it is time to recap 0:01:29.120 --> 0:01:31.640 the week that was. I'm going to start with Monday's 0:01:31.640 --> 0:01:34.600 money Dry episode, which this week was all about someone 0:01:34.600 --> 0:01:37.280 who'd moved out of home and interstate at the age 0:01:37.319 --> 0:01:41.040 of seventeen and was now twenty five a registered nurse. 0:01:41.280 --> 0:01:43.800 But the spicy part was she worked in a jail, 0:01:44.120 --> 0:01:47.120 and I thought that that was so interesting and we 0:01:47.200 --> 0:01:49.800 had some conversations. I obviously took it down my own 0:01:49.840 --> 0:01:52.560 root of questioning, because Jess, you're not there to keep 0:01:52.600 --> 0:01:55.120 me on track an so I just go rogue And 0:01:55.160 --> 0:01:57.080 I was like, what about the ethics of it? Like 0:01:57.160 --> 0:02:00.400 what about providing care to people that you no might 0:02:00.480 --> 0:02:03.360 have killed someone else? Like how does that work? So 0:02:03.640 --> 0:02:05.600 I found it really interesting, and to be honest, I 0:02:05.640 --> 0:02:08.360 found her really compassionate and kind because she was like, well, 0:02:08.360 --> 0:02:10.360 I'm not there to judge their circumstances. I'm there to 0:02:10.360 --> 0:02:11.840 make sure that they're healthy, and I was just like, 0:02:11.880 --> 0:02:15.160 you're a very very kind human. She was actually really 0:02:15.200 --> 0:02:17.520 really interesting as well. She lived with her partner and 0:02:17.560 --> 0:02:20.400 she had two dogs, which obviously I was really interested in, 0:02:20.840 --> 0:02:22.919 but she also decided to get on board the first 0:02:22.919 --> 0:02:25.560 time Super Savis game, which is an absolute mouthful, and 0:02:25.600 --> 0:02:28.680 she's contributing an extra six hundred dollars each and every 0:02:28.680 --> 0:02:31.080 single fortnight to Super because they want to buy their 0:02:31.080 --> 0:02:33.000 first time in three years. And I just thought it 0:02:33.040 --> 0:02:35.000 was really cool to see a twenty five year old 0:02:35.080 --> 0:02:37.200 at that stage where she's like, I'm just saving, I'm 0:02:37.200 --> 0:02:39.520 trying to get there. This is my plan, this is 0:02:39.560 --> 0:02:41.960 my strategy. And it's really nice to talk to people 0:02:42.000 --> 0:02:44.960 who have strategies that are a little bit longer, because 0:02:45.000 --> 0:02:46.919 I think so many times we talk to people and 0:02:46.960 --> 0:02:48.600 they're like, yeah, I'm going to buy property, and it's 0:02:48.639 --> 0:02:51.079 always I'm going to buy property this year or next year, 0:02:51.200 --> 0:02:54.040 or I already have fifty thousand dollars savings, and for 0:02:54.160 --> 0:02:57.480 some people that's just not relatable. But this money drest 0:02:57.600 --> 0:02:59.520 was like, all right, this is a three year game plan. 0:02:59.560 --> 0:03:01.480 I'm still to it. And I was like, yes, Quinn, 0:03:01.520 --> 0:03:03.160 get it. Oh my gosh, that's awesome. 0:03:03.240 --> 0:03:05.240 But having a plan and sticking to it takes the 0:03:05.240 --> 0:03:07.880 pressure off a bit and setting up that habit. She's 0:03:07.880 --> 0:03:10.040 basically paying a mortgage here. I mean like she's getting 0:03:10.040 --> 0:03:12.480 herself in that habit now, which is only going to 0:03:12.560 --> 0:03:14.919 make her life a whole lot easier when she finally 0:03:14.960 --> 0:03:16.080 does get to buy her home. 0:03:15.960 --> 0:03:18.280 Literally, And I just think that too many times we 0:03:18.320 --> 0:03:21.000 only see the shiny side of property purchasing, And I mean, 0:03:21.360 --> 0:03:24.840 you're on that journey at the moment, which is not shiny, 0:03:25.080 --> 0:03:27.560 not shiny. But it did take you a while to 0:03:27.600 --> 0:03:30.360 save your deposit and you were really diligent at it. 0:03:30.440 --> 0:03:32.959 But I don't think people understand the compromise that comes 0:03:33.000 --> 0:03:36.240 along with making a big, long term financial decision because 0:03:36.240 --> 0:03:38.960 it's going into your savings account. It's not going somewhere else. 0:03:39.080 --> 0:03:42.680 Like every single day you're challenged as to weather, Oh 0:03:42.800 --> 0:03:44.360 do you want to go on another holiday with friends, 0:03:44.440 --> 0:03:45.400 or do you want to go out for brunch? Or 0:03:45.400 --> 0:03:47.160 do you want to make these decisions. It's not something 0:03:47.200 --> 0:03:48.800 that you just go, yeah, we've been planning this for 0:03:48.880 --> 0:03:51.600 ages and it was no biggie. Y's a biggie. It's 0:03:51.640 --> 0:03:53.360 a massive So it was really nice to have a 0:03:53.440 --> 0:03:55.240 chat with her. She was full of bubbles and I 0:03:55.240 --> 0:03:58.040 really loved her. Oh my gosh, she sounds incredible. What 0:03:58.080 --> 0:03:59.760 did we talk about a Wednesday though, Jessica? 0:04:00.000 --> 0:04:03.200 So on Wednesday we recapped the top five performing ETFs 0:04:03.240 --> 0:04:05.360 of twenty twenty two, which was a really fun episode 0:04:05.400 --> 0:04:07.840 to do for a couple of reasons. Firstly, did you 0:04:07.880 --> 0:04:10.560 know that this year our very best fine you're going 0:04:10.600 --> 0:04:13.160 to say, was recapping the best ETFs of twenty. 0:04:13.040 --> 0:04:16.599 Twenty one one? Yes, we did our Spotify rapped rapped, 0:04:16.640 --> 0:04:20.040 not rewrapped rap, Spotify wrapped, And it came out that 0:04:20.040 --> 0:04:22.960 that was our most popular episode by like heaps. It 0:04:23.040 --> 0:04:26.040 wasn't like, you know, a thousand listence, it was like 0:04:26.240 --> 0:04:29.080 what was It was like fifty six percent or something ridiculous, 0:04:29.120 --> 0:04:32.239 And I was like, ah, you guys were more investing content. 0:04:32.360 --> 0:04:34.479 I see you, I hear you. So watch out twenty 0:04:34.520 --> 0:04:35.000 twenty three. 0:04:35.160 --> 0:04:37.359 Yeah, lots more investing content coming your way. But the 0:04:37.360 --> 0:04:40.120 reason I really enjoyed this episode was because it's obviously 0:04:40.120 --> 0:04:42.200 the second year now that we've done it. It was 0:04:42.240 --> 0:04:44.159 really cool to be able to compare and look back 0:04:44.200 --> 0:04:46.840 at the industries that performed really well last year, because 0:04:46.880 --> 0:04:50.080 we spoke a lot in that episode about how it 0:04:50.120 --> 0:04:53.160 was a real anomaly in the industries that performed well 0:04:53.200 --> 0:04:56.039 and more specifically the percentage of growth that they saw 0:04:56.080 --> 0:04:58.480 because last year there were companies that had growth of 0:04:58.839 --> 0:05:02.640 you know, sixty seventy Yeah, like crazy, and you, at 0:05:02.640 --> 0:05:05.520 the time, as an advisor, said this is not normal, 0:05:05.680 --> 0:05:08.120 And as someone who was new to investing, I was like, oh, yeah, 0:05:08.160 --> 0:05:10.120 like I sho. 0:05:09.520 --> 0:05:11.719 But what I was going to be companies that performed 0:05:11.760 --> 0:05:12.599 that way? Yeah. 0:05:12.640 --> 0:05:14.640 I mean when we looked at this year's top five, 0:05:14.920 --> 0:05:19.080 the growth was so much done in comparison. And I 0:05:19.080 --> 0:05:20.440 don't want to give it away. You're gonna have to 0:05:20.480 --> 0:05:22.560 go listen to the episode if you want to know. No, 0:05:23.040 --> 0:05:24.440 they've got to go listen to the episode if they 0:05:24.480 --> 0:05:25.880 want to know all the juicy ds. But it was 0:05:25.920 --> 0:05:31.040 completely different industries, completely different ETFs, and also completely different percentages, 0:05:31.040 --> 0:05:33.200 which is just cool to look at as someone who's 0:05:33.279 --> 0:05:35.560 kind of interested in the data and also as a 0:05:35.600 --> 0:05:38.680 newer investor to see just how much of a difference 0:05:38.760 --> 0:05:39.680 twelve months can make. 0:05:39.880 --> 0:05:42.600 Yeah, and I mean I'm boring, so I love this content, 0:05:42.640 --> 0:05:45.560 but turns out you guys do too. I think it 0:05:45.560 --> 0:05:48.200 would be interesting as well if you hadn't listened to 0:05:48.240 --> 0:05:50.359 that episode or you're newer to the podcast, because we 0:05:50.440 --> 0:05:53.480 learn also from our Spotify wrapped that our community has 0:05:53.560 --> 0:05:57.000 grown by what thirty seven percent, So thirty seven percent 0:05:57.080 --> 0:05:59.480 of our listeners are new this year, which is very, 0:05:59.600 --> 0:06:01.560 very cool. So if you're one of them, I would 0:06:01.600 --> 0:06:03.960 actually go back and listen to that twenty twenty one 0:06:04.040 --> 0:06:06.080 rap and then the twenty twenty two just so you 0:06:06.120 --> 0:06:08.520 can understand what we're talking about when it comes to 0:06:08.600 --> 0:06:11.040 changes in the economy and changes in the market and 0:06:11.080 --> 0:06:14.320 the different industries that were showcased, because both of those 0:06:14.320 --> 0:06:16.240 episodes are not going to be able to guide you 0:06:16.680 --> 0:06:18.840 on what to invest in in the future because past 0:06:18.839 --> 0:06:21.479 performance is not a reliable predictor of future performance. We 0:06:21.640 --> 0:06:24.160 know that it's just reflecting on the year that was. 0:06:24.240 --> 0:06:26.320 But I think you guys will actually find it really 0:06:26.320 --> 0:06:29.400 interesting now that there's two episodes that kind of have 0:06:29.600 --> 0:06:32.120 the same format to go, Wow, in twenty twenty one, 0:06:32.160 --> 0:06:33.839 it did this, and then in twenty twenty two it 0:06:33.880 --> 0:06:36.880 did this. We can't predict what twenty twenty three is 0:06:36.920 --> 0:06:38.960 going to do, and that's why we have to always 0:06:39.000 --> 0:06:41.160 be switched on making sure that we have really well 0:06:41.200 --> 0:06:44.400 diversified portfolios, and then we're not jumping the gun on 0:06:44.560 --> 0:06:48.279 things and not trying to just follow trends because Jess, 0:06:48.320 --> 0:06:50.719 if you had listened to that twenty twenty one episode 0:06:50.720 --> 0:06:52.359 we did, and you're like, oh my gosh, zoom and 0:06:52.400 --> 0:06:54.760 stuff like this is really performing because of COVID. I'm 0:06:54.760 --> 0:06:57.400 going to jump on that bandwagon. You weren't even going 0:06:57.480 --> 0:07:00.360 to be in the top twenty this year. That would 0:07:00.360 --> 0:07:02.120 have put you behind. So I think that we need 0:07:02.160 --> 0:07:04.640 to talk about how important it is to not take 0:07:04.680 --> 0:07:07.839 these episodes as advice but rather education. You know, we 0:07:07.880 --> 0:07:10.200 harp on about it all the time, but that's a 0:07:10.240 --> 0:07:14.040 really solid example of Hey, our twenty twenty one wrap, 0:07:14.080 --> 0:07:16.440 if you had decided to take that as advice, you 0:07:16.480 --> 0:07:18.200 weren't even going to make it the next year. We 0:07:18.280 --> 0:07:21.040 really need to be more diversified than that. Yeah. 0:07:21.120 --> 0:07:23.480 Absolutely, And for twenty twenty one, we also did an 0:07:23.480 --> 0:07:26.720 episode reviewing the top five performing individual shares. 0:07:26.960 --> 0:07:28.520 Well do that again? Should we do that again? 0:07:28.640 --> 0:07:30.280 Yeah? If you want to see that, let us know, 0:07:30.400 --> 0:07:32.680 slide into our dms because we can always. 0:07:32.320 --> 0:07:34.520 Just changing the name of the podcast is not She's 0:07:34.520 --> 0:07:36.480 on the Money, it's She's on the investing. I think 0:07:36.520 --> 0:07:39.880 that's a great idea. Victoria's so stoked. I'm like, yes, 0:07:40.000 --> 0:07:41.520 these queens have caught up. 0:07:42.360 --> 0:07:44.920 All right, enough talking investing vas. I know you could 0:07:44.920 --> 0:07:47.720 do that literally all day, but instead, let's get into 0:07:47.760 --> 0:07:51.200 today's budget direct money wins some confession, let's still it already. 0:07:51.240 --> 0:07:53.280 So my first win this week comes from Shan, who 0:07:53.360 --> 0:07:56.280 said a colleague told me I could claim my master's 0:07:56.280 --> 0:08:00.360 degree on tax as work related self education, amended tax 0:08:00.400 --> 0:08:03.120 return and got another ten thousand dollars back. 0:08:03.640 --> 0:08:07.080 What money, ween? I love that. That's a lot of money. 0:08:07.280 --> 0:08:08.720 I always want to know what people are going to 0:08:08.800 --> 0:08:10.000 do with it when they say I got an extra 0:08:10.120 --> 0:08:11.840 ten grand, Like, where did it go? I know I'll 0:08:11.840 --> 0:08:13.080 get I'll come out back to Shan and be like, 0:08:13.120 --> 0:08:15.200 where's it going? What are you doing? Victory wants to know. Yeah, 0:08:15.200 --> 0:08:17.520 I'm perviey, Please tell me your financial circumstances. 0:08:18.000 --> 0:08:20.760 Our next wind comes from Kira, who said, money win. 0:08:21.160 --> 0:08:23.760 I made eighteen little gifts for my daycare and school 0:08:23.800 --> 0:08:27.000 teachers from my kids, using things I already had at home. 0:08:27.240 --> 0:08:30.400 I've only spent twelve dollars on seedlings. And she put 0:08:30.400 --> 0:08:32.319 in a photo of nine that are going to school tomorrow, 0:08:32.360 --> 0:08:34.440 and they're these really cute little pots with flowers that 0:08:34.480 --> 0:08:35.880 she's grown from the seedlings. 0:08:36.040 --> 0:08:37.520 Oh, and I feel like that's so cute. 0:08:37.520 --> 0:08:41.800 Week she can say, oh, like me and my child groovy. 0:08:41.640 --> 0:08:45.320 You Yeah, that's really cute. I feel like my mum 0:08:45.480 --> 0:08:47.840 used to put so much energy and effort into the 0:08:47.920 --> 0:08:51.480 teacher gifts for my teachers growing up, and I look 0:08:51.480 --> 0:08:53.400 at it now and I'm like, what is that an 0:08:53.400 --> 0:08:55.679 expectation of parenting? Because I don't know. 0:08:56.000 --> 0:08:58.080 It's also a big expense because kids that are in 0:08:58.160 --> 0:09:01.480 primary school particularly have a host of what like five 0:09:01.640 --> 0:09:04.040 or six different teachers that they would see across the week, 0:09:04.080 --> 0:09:06.280 Like they would have their homeroom or their core teacher 0:09:06.320 --> 0:09:07.880 and their art teacher and their sport teacher. 0:09:08.280 --> 0:09:09.680 Yeah, like where do you draw. 0:09:09.640 --> 0:09:11.800 The line because that's gone to get expensive. 0:09:12.040 --> 0:09:12.240 Yeah. 0:09:12.280 --> 0:09:15.040 But also, if you're a teacher at Christmas time, do 0:09:15.080 --> 0:09:18.240 you just end up with sixty million seedlings on your desk? 0:09:18.559 --> 0:09:21.080 Or chocolate? My sister in law is a teacher. Would 0:09:21.120 --> 0:09:23.360 you are right with chocolates? I feel like chocolates is 0:09:23.400 --> 0:09:26.480 a good compromise. I always feel like presents for people 0:09:26.520 --> 0:09:30.480 that you're not that close to should be somewhat disposable. 0:09:31.000 --> 0:09:33.120 Is that a bad thing? I don't know, Like it 0:09:33.160 --> 0:09:36.120 feels less thoughtful, But like if I didn't know you. Well, Jess, like, 0:09:36.160 --> 0:09:38.040 I'm not going to go buy you some kind of 0:09:38.160 --> 0:09:40.960 decor for your home that you then put in the 0:09:41.000 --> 0:09:43.120 corner of your house and you're like, oh, that's sick, 0:09:43.320 --> 0:09:47.600 like wine, food, chocolates, biscuits, something that can be consumed, 0:09:48.040 --> 0:09:51.560 appreciated and then not have an impact on your decor 0:09:51.800 --> 0:09:52.200 at home. 0:09:52.440 --> 0:09:54.200 Well, yeah, my sister in law always says there's only 0:09:54.280 --> 0:09:56.640 so many World's Best Teacher bugs that you can have, 0:09:56.880 --> 0:10:00.160 because that's that's a really thoughtful, kind sweet gift. But 0:10:00.280 --> 0:10:02.160 it's also I think one that a lot of people 0:10:02.320 --> 0:10:03.760 go for when you go to our house. 0:10:03.840 --> 0:10:06.640 Is it just like those are the only mugs truly 0:10:06.800 --> 0:10:08.360 from turned out where all the. 0:10:10.679 --> 0:10:13.800 My next win comes from Evelyn, who said money Win. 0:10:14.040 --> 0:10:16.880 I won a Vinnie's gift card this week. I love 0:10:16.920 --> 0:10:19.120 op shopping. I'm patiently waiting for it to come in 0:10:19.120 --> 0:10:21.520 the mail, which I didn't even know that you didn't get. 0:10:21.360 --> 0:10:23.880 No cards for the option. Yeah exactly. 0:10:24.240 --> 0:10:26.400 I thought that was really fun because obviously we're all 0:10:26.440 --> 0:10:28.440 kind of thinking about Christmas and gifting, and if you 0:10:28.520 --> 0:10:30.520 know someone who loves op shopping, I feel like that's 0:10:30.520 --> 0:10:31.199 a really. 0:10:31.080 --> 0:10:33.400 Nice it's thoughtful it's really cool for. 0:10:33.520 --> 0:10:35.840 Gift because if you give them even like a ten 0:10:35.920 --> 0:10:38.040 or twenty dollars gift card, it's going to go quite 0:10:38.040 --> 0:10:40.760 far at somewhere like an op shop compared to if 0:10:40.800 --> 0:10:44.520 you just bought them one for glassons or something, which. 0:10:44.360 --> 0:10:45.640 I thought was really really sweet. 0:10:45.679 --> 0:10:48.480 My next win comes from Jess, who says, I'm engaged, 0:10:48.840 --> 0:10:49.760 can grat. 0:10:49.640 --> 0:10:51.680 I need like that a most fun time ever? 0:10:52.160 --> 0:10:55.240 Well, she said she found a gorgeous modern wedding dress 0:10:55.320 --> 0:10:58.640 in my size add an op shop for twenty dollars. 0:10:58.720 --> 0:11:02.679 What twenty dollars is she missing a zero? Because that 0:11:02.840 --> 0:11:05.679 is a money win if it's twenty bucks. 0:11:05.559 --> 0:11:07.199 That's what I thought. We impressed. 0:11:07.240 --> 0:11:09.000 We'd love to see a photo dress. Add a photo 0:11:09.000 --> 0:11:10.320 to the throat so we can all have a little 0:11:10.320 --> 0:11:11.160 bit of a sticky bit. 0:11:11.520 --> 0:11:13.839 Now I've had my wedding, I absolutely am going to 0:11:13.880 --> 0:11:15.880 be using an abusing wedding content like I want to 0:11:15.880 --> 0:11:17.640 see all your dresses, I want to see all you styling. 0:11:17.640 --> 0:11:19.720 I want to see everything, and it's really self serving, 0:11:19.760 --> 0:11:20.640 but I'm not sorry. 0:11:20.920 --> 0:11:22.959 Oh my gosh, we're all for it. It is wedding 0:11:22.960 --> 0:11:25.520 season and I am loving it. And then my second 0:11:25.559 --> 0:11:28.160 to last win I have comes from Caroline. She says 0:11:28.520 --> 0:11:31.000 I saved nineteen dollars a month by switching my mobile 0:11:31.000 --> 0:11:33.920 phone account to another provider. Plus I get more data 0:11:33.960 --> 0:11:37.040 and my unused data rolls over each month. It might 0:11:37.080 --> 0:11:38.720 not be much, but I'm on my own now and 0:11:38.800 --> 0:11:41.199 have bought She's on the money, and set up my budget, 0:11:41.240 --> 0:11:43.200 got a planner, and am ready to move forward in 0:11:43.200 --> 0:11:46.400 the New Yark. Hi you queen, Yes, Caroline, you are 0:11:46.400 --> 0:11:48.440 getting on top of it. You are taking control. And 0:11:48.480 --> 0:11:51.320 you've also reminded me that I actually need to call 0:11:51.360 --> 0:11:53.440 my insurance provider to see if they will do me 0:11:53.440 --> 0:11:55.440 a better deal because I got my insurance renal and 0:11:55.600 --> 0:11:56.480 it is expensive. 0:11:56.720 --> 0:11:59.280 Yeah, always ask for a better deal. But also it's 0:11:59.320 --> 0:12:01.120 coming up to the stiff season and a lot of 0:12:01.160 --> 0:12:03.079 us have some time off. Now is the time to 0:12:03.120 --> 0:12:06.000 review your phone plan because there are so many cheap 0:12:06.000 --> 0:12:08.600 ones out there, like I basically have. I think it's 0:12:08.600 --> 0:12:10.439 like one hundred and fifty gig of data for forty 0:12:10.440 --> 0:12:12.199 five bucks a month, and I think that's a money win. 0:12:12.400 --> 0:12:14.640 But I also know I could get it cheaper. Do 0:12:14.720 --> 0:12:16.880 I need to? I don't know. Forty five bucks a 0:12:16.880 --> 0:12:19.360 month is pretty good, but like, if yours is more 0:12:19.400 --> 0:12:21.800 than that, I absolutely would be reviewing it because I 0:12:21.800 --> 0:12:24.520 feel like, especially at Christmas time, there are heaps of 0:12:24.600 --> 0:12:27.680 deals flying around to save some money on your phone plan. 0:12:28.080 --> 0:12:29.320 I fully agree. 0:12:29.360 --> 0:12:31.080 And if you've got the extra time off, what better 0:12:31.080 --> 0:12:32.840 way to spend it than by saving yourself some money. 0:12:32.840 --> 0:12:35.840 You're gonna feel good and future you is one thousand 0:12:35.880 --> 0:12:39.079 percent going to thank you. The very last money win 0:12:39.200 --> 0:12:41.440 that I have today is from Rihanna, and she said 0:12:41.440 --> 0:12:43.400 money win. I caught up with a friend last week 0:12:43.440 --> 0:12:45.760 and he shouted me a coffee. It's the little things 0:12:45.760 --> 0:12:46.240 that make. 0:12:46.120 --> 0:12:49.000 Your day money. When I got a free coffee this 0:12:49.080 --> 0:12:50.840 week too, that's absolutely money win. 0:12:50.920 --> 0:12:51.079 Yeah. 0:12:51.080 --> 0:12:52.800 I found one of those ticket you know, like the 0:12:52.920 --> 0:12:55.720 coffee cards down the side of the car, which fools. Yeah, 0:12:55.760 --> 0:12:58.760 next one free money win. Oh my gosh, makes your day? 0:12:58.920 --> 0:13:01.080 All right, Jess, it is time to wrap it. As always, 0:13:01.120 --> 0:13:03.559 it has been great celebrating some of your budget Direct 0:13:03.640 --> 0:13:06.440 money wins. Budget Direct winner of can Star's Insurer of 0:13:06.480 --> 0:13:14.199 the Year Award twenty twenty two. Budget Direct Insurance solved. 0:13:14.840 --> 0:13:17.920 All right, everybody, today, I have a kind of really 0:13:18.000 --> 0:13:19.480 exciting it's really exciting. 0:13:19.520 --> 0:13:22.200 What do you mean kind of super exciting? I cannot wait. 0:13:22.240 --> 0:13:24.240 I feel like I have been jumping up and down 0:13:24.280 --> 0:13:26.640 about this for years. I had a video go viral 0:13:26.720 --> 0:13:29.719 on TikTok about this. Yeah, and by viral, I mean 0:13:29.720 --> 0:13:31.800 like not as viral as everybody else's videos, but like 0:13:31.840 --> 0:13:33.920 I mean a million views. That was pretty good. But 0:13:34.120 --> 0:13:36.040 what is it, Jess? What are we talking about today? 0:13:36.320 --> 0:13:40.120 So some new industrial relation laws have passed through Parliament 0:13:40.120 --> 0:13:42.800 this week, which there's a whole bunch of different things 0:13:42.800 --> 0:13:45.200 that are kind of covered off in these reforms, But 0:13:45.280 --> 0:13:47.520 the big two that I want to talk about today 0:13:47.960 --> 0:13:52.080 are pay secrecy and flexibility. Pay secrecies banded in Australia. 0:13:52.920 --> 0:13:56.040 Spoiler alert. It's so exciting. This is something we've spoken 0:13:56.040 --> 0:13:58.439 about heats on this show. If you're not familiar. Pay 0:13:58.480 --> 0:14:01.080 secrecy is essentially just a laws that is included in 0:14:01.120 --> 0:14:04.880 some people's contracts that expressly prohibits people from discussing their 0:14:04.920 --> 0:14:08.079 salary with other employees or people external to the company. 0:14:08.400 --> 0:14:10.840 And if you're going, gee, Jess, why why would they 0:14:10.840 --> 0:14:13.640 put that in there to protect themselves, to stop people 0:14:13.640 --> 0:14:17.200 from saying, hey, I'm earning fifty five thousand dollars and 0:14:17.200 --> 0:14:19.240 this other person being like, oh my god, I'm doing 0:14:19.240 --> 0:14:21.120 the exact same job as you, and I'm earning eighty 0:14:21.160 --> 0:14:23.840 thousand dollars. That is a joke if that happened, because 0:14:23.840 --> 0:14:26.120 in that so trio, the person on the fifty five 0:14:26.120 --> 0:14:28.640 thousand dollars is going to be like, well, that's not fair. 0:14:28.800 --> 0:14:30.400 I'm doing the same job time. 0:14:30.560 --> 0:14:34.000 It is so eg It is really exploitative, and you 0:14:34.040 --> 0:14:36.360 know that law. I think when we've spoken about in 0:14:36.360 --> 0:14:39.360 the past, we've said it really only exists to protect companies. 0:14:39.400 --> 0:14:42.200 It doesn't do anything to protect employees. All it does 0:14:42.320 --> 0:14:45.200 is gag you essentially and stop you from being able 0:14:45.200 --> 0:14:47.840 to figure out what you're worth, but also what other 0:14:47.880 --> 0:14:50.480 people are worth as well, and it stops things from 0:14:50.640 --> 0:14:53.680 people unionizing and banding together and kind of, you know, 0:14:54.400 --> 0:14:57.560 working as a team to increase everybody's position. 0:14:58.080 --> 0:15:00.720 The I want to be in a better position exactly. 0:15:00.760 --> 0:15:03.160 It's insane to me that this hasn't happened earlier. But 0:15:03.160 --> 0:15:05.240 I'm really excited about it because I was reading something 0:15:05.360 --> 0:15:08.200 last weekend about how you remember ages ago, Jess. We 0:15:08.280 --> 0:15:09.920 talked on the podcast. I don't know if it was 0:15:09.960 --> 0:15:12.640 pre you or it was with you, because I live 0:15:12.680 --> 0:15:15.120 in a bubble. But we're talking about how it's going 0:15:15.200 --> 0:15:17.000 to take one hundred and fifty years to close the 0:15:17.080 --> 0:15:19.440 gender pay gap. So we're talking about that, and it 0:15:19.480 --> 0:15:21.960 has now been increased to two hundred years because during 0:15:21.960 --> 0:15:27.160 COVID we went significantly backwards and that really sucks. But 0:15:27.280 --> 0:15:30.400 something that plays into that genuinely is pay secrecy. And 0:15:30.440 --> 0:15:32.800 if you're listening to this thinking, oh, that's not a 0:15:32.840 --> 0:15:35.720 thing like I've always been open about it, lucky you, 0:15:36.120 --> 0:15:39.000 because so many people are in that position. If you're 0:15:39.080 --> 0:15:41.800 a nurse or you are a teacher, often your salary 0:15:41.960 --> 0:15:45.160 is really transparent because you're on an award and that's 0:15:45.200 --> 0:15:47.360 great and you can talk about that and you know 0:15:47.440 --> 0:15:49.600 how to predict, well, if I go up this level 0:15:49.680 --> 0:15:51.920 or I'm in this band, this is what this will mean. 0:15:52.120 --> 0:15:55.440 But there are so many things in so many industries 0:15:55.480 --> 0:15:58.480 that stop people talking about their incomes or talking about 0:15:58.480 --> 0:16:02.920 their remuneration. And think that is wildly unfair, because today 0:16:03.040 --> 0:16:05.760 the gender pay gap in Australia is still twenty two 0:16:05.840 --> 0:16:09.240 point eight percent, which is way too many percent for me. 0:16:09.640 --> 0:16:13.000 But the exciting thing about banning pay secrecy is hopefully 0:16:13.080 --> 0:16:15.840 we can follow suit with Canada who found that once 0:16:15.880 --> 0:16:19.440 they banned pay secrecy, they found that the gender pay 0:16:19.480 --> 0:16:21.880 gap between men and women was reduced by twenty to 0:16:21.960 --> 0:16:25.640 forty percent. Wow, how easy is that? Like, just talking 0:16:25.680 --> 0:16:29.160 about your salary puts us in a twenty to forty 0:16:29.200 --> 0:16:30.480 percent better off position. 0:16:30.680 --> 0:16:33.520 That crazy, And the gender pay gap is really central 0:16:33.600 --> 0:16:36.160 to this updated bill, which is the Secure Job's Better 0:16:36.160 --> 0:16:38.760 Pay Bill if you would like to look up the reforms. 0:16:39.040 --> 0:16:41.800 And another really significant factor I guess that we talk 0:16:41.840 --> 0:16:44.400 about in terms of that gender pay gap is caring 0:16:44.440 --> 0:16:45.960 and how a lot of the time women have to 0:16:46.000 --> 0:16:48.840 take time out of the workplace because statistically we know 0:16:48.920 --> 0:16:50.920 that more often than not they're the primary cares. You 0:16:50.960 --> 0:16:52.880 have to take time off at a minimum if you're 0:16:52.920 --> 0:16:55.560 giving birth, let alone, if you're the person who's going 0:16:55.600 --> 0:16:57.200 to be staying at home with the kids. And so 0:16:57.240 --> 0:16:59.720 another element of this reform that I'm really excited about 0:16:59.720 --> 0:17:02.320 Percon is they've now made it so that it is 0:17:02.400 --> 0:17:06.880 illegal for an employer to unreasonably refuse flexible working options. 0:17:06.960 --> 0:17:09.920 So for our working parents who can't afford to put 0:17:09.920 --> 0:17:11.720 their kids in daycare every day, I think is a 0:17:11.720 --> 0:17:13.919 common example we see in the group because daycare is 0:17:14.200 --> 0:17:16.560 so expensive, well after school care, if you've got a kid, 0:17:16.800 --> 0:17:18.120 I believe. 0:17:17.960 --> 0:17:20.600 How expensive it is. And you know, not to throw 0:17:20.680 --> 0:17:22.680 my business partner Cage under the bus, but I was 0:17:22.760 --> 0:17:24.199 having a chat with her the other day, and she 0:17:24.280 --> 0:17:27.640 has two beautiful little boys who both go to day 0:17:27.680 --> 0:17:31.200 care full time because they have working parents. I could 0:17:31.240 --> 0:17:34.119 not believe how expensive it was. It's basically a mortgage 0:17:34.160 --> 0:17:37.879 repayment for them. And I'm so grateful and very happy 0:17:37.880 --> 0:17:40.119