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

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

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

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

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

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

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

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

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money.

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Speaker 4: She's on the Money.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: for millennials who want financial freedom. Today, my friends, is Friday,

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Speaker 2: which means it is time to celebrate you the incredible

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Speaker 2: She's on the Money community. Today, I am going to

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Speaker 2: be sharing our community's favorite money wins because miss Jess

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Speaker 2: Ricci she's living her life in Tokyo. Kind of rude,

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Speaker 2: but that's okay. Beck, You've got a number of really

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Speaker 2: good broke tips for us this week, which I am

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Speaker 2: excited about. Yes, we are going to be helping to

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Speaker 2: answer a juicy Money Dilemma, which this week is all

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Speaker 2: about managing various accounts. We're going to be unpacking something

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Speaker 2: that you slid into our DMS about which this week

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Speaker 2: we're chatting about a partner who doesn't prioritize savings at all.

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Speaker 2: And we're going to introduce our miss an Elissa to

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Speaker 2: the show. She's our podcast producer and all round like

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Speaker 2: Queen of the she's on the money Unisphere whatever we

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Speaker 2: call it, Queen the Queen, she's the Queen.

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Speaker 5: Am you?

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Speaker 3: I'm here to keep you in line on air and

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Speaker 3: in check. True.

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Speaker 2: She was very confused for having like, let's have her

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Speaker 2: on this show. You were like, ah, are you sure?

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Speaker 5: I have nothing else to offer but my verbal support

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Speaker 5: of both of you on air.

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Speaker 3: Lovely to join you ladies Friday Friday.

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Speaker 6: I'm so excited that you're here.

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Speaker 5: I woud also like to clarify that Miss Jayrek is

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Speaker 5: over in Japan, in Tokyo, trying to win Miss Sake

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Speaker 5: twenty twenty three.

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Speaker 3: I think that she should, Yeah, she should wash his

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Speaker 3: there she may as well.

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Speaker 2: Try, and she's gonna she should. She should, that would

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Speaker 2: be I don't think she's going to come back. I

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Speaker 2: really hope she does. We need her, hope she does

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Speaker 2: really need her.

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Speaker 6: If she doesn't, then you will stay here forever. And

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Speaker 6: you seem stoked about that, so well let's go with that.

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Speaker 2: As always, we start the show by asking you guys,

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Speaker 2: how your weeks were? Miss Beck's I head, what have

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Speaker 2: you been up to this week?

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Speaker 6: Whatever been up to?

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Speaker 7: Honestly, like, I have been kind of bedridden because I've

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Speaker 7: been sore. It's about that time of the month. Not

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Speaker 7: to get you know, to TMI, but it's helpful, so

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Speaker 7: I haven't done anything.

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Speaker 2: To talk about it because yeah, it's kind of crippling sometimes.

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Speaker 6: Kind of crippling. So I've let myself have a really

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Speaker 6: relaxed week.

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Speaker 2: Good you deserve it.

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Speaker 6: Thank you so much. And you and you.

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Speaker 2: No, miss an Lisa, how was your week? What did

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Speaker 2: you do shook.

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Speaker 5: Me from the constant, steady delight of beautiful sunshine that

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Speaker 5: we had.

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Speaker 3: In Melbourne last week?

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Speaker 2: What is that about?

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Speaker 3: I don't know. It's weird, but it's fabulous.

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Speaker 5: But also thanks for getting me on because I'm going

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Speaker 5: overseas this Sunday for.

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Speaker 3: Two months and I won't see it, so.

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Speaker 5: I'm frantically packing, frantically working frantically doing everything and wondering

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Speaker 5: why on if.

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Speaker 3: I got myself into this.

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Speaker 2: No, I think it's going to be brilliant. And Lisa,

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Speaker 2: can you tell our community exactly why you're leaving she's

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Speaker 2: on the money for two months, because that kind of

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Speaker 2: seems a bit rude, doesn't it be? You're letting me

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Speaker 2: be No, that's not it at all. What are you

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Speaker 2: doing in the United States of America?

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Speaker 5: I'm playing some music over there, so I'm very excited.

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Speaker 2: No, no, no, that wasn't good enough, was it, Beck?

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Speaker 2: Could you please just tell us what you're actually doing

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Speaker 2: over there?

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Speaker 3: My band is going on tour.

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Speaker 2: Your band is going on to Your band was to

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Speaker 2: go on tour in America?

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Speaker 3: So I'm playing.

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Speaker 2: So you have a band, a big dog band.

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Speaker 5: Oh, not a big dog band, a little dog band.

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Speaker 5: My band is Lithario. It's a punk band. I'm sure

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Speaker 5: many she's on the money listeners. We enjoy the kind

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Speaker 5: of an arcic, feminist punk.

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Speaker 2: We are. I don't think our team could be any different. Honestly,

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Speaker 2: I know jessic Rici and I share one brain cell

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Speaker 2: between the two of us, but like the rest of

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Speaker 2: the team, exactly real rogue collection of friends exactly.

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Speaker 5: Bit of a punk Tato Swift is what I try

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Speaker 5: to I'm there channel, is that what they call it.

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Speaker 2: I am one hundred percent there for anything that you

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Speaker 2: relate to Taylor Swift. So I'm in. I keep saying

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Speaker 2: to the team we have to go to one of

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Speaker 2: Analisa's live events, and the rest of the team, like Victoria,

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Speaker 2: you'll get kicked out. You do not look like you

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Speaker 2: go there. But I'm going to go anywhere.

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Speaker 5: God, audience and all sorts of people come and please

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Speaker 5: do come along. I will make sure that they crowdsurfe

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Speaker 5: you to the front when to do so.

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Speaker 2: I cannot wait for a pregnant person.

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Speaker 3: Yes, thank you for letting me go. Wait, I am

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Speaker 3: simply delighted.

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Speaker 5: And I won't imagine high five you while you're at

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Speaker 5: fin Con.

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Speaker 2: I know we're actually really just dropping on the road

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Speaker 2: because Beck, we're actually in the US. So we take

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Speaker 2: off mid October to go to New York for a

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Speaker 2: week with the team. We have a whole heap of

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Speaker 2: really exciting interviews coming up with some New York talent.

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Speaker 2: We're also going to iHeart Studios there. We're going to

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Speaker 2: go visit the Penguins studios, and I'm doing a couple

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Speaker 2: of lack five with literacy presentations sadly not. Ye, that's

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Speaker 2: what I was thinking to just the books, the book

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Speaker 2: publisher by publisher, yet least the Penguin reception. How about

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Speaker 2: I check and report back king Yeah, underrated. Anyway, We're

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Speaker 2: going to New York and then we're going to New Orleans,

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Speaker 2: New Orleans.

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Speaker 3: New Orleans, New Orleans.

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Speaker 2: J Orleans for a finance conference at which both Jess

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Speaker 2: and I are speaking separately. Which big dog energy Energy?

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Speaker 2: So one of us is on literal who are with

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Speaker 2: our bounds? The others are going to a finance conference.

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Speaker 2: Guess we too.

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Speaker 5: We'll have a round table when we get back to

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Speaker 5: report back our findings.

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Speaker 2: I love it. I'm excited.

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Speaker 3: What a week? What a week?

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Speaker 2: What an absolute week? All right, well, let's dive straight in.

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Speaker 2: I am going to hopefully do the community money wins

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Speaker 2: justice and I have a little rap to share with you, guys.

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Speaker 2: Are you ready? You like an actual rap, A little

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Speaker 2: wrap of like the list of Oh no, I knew

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Speaker 2: Jesuita to be here for this episode. I knew bringing

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Speaker 2: the two of you on together was a bad idea. No, No,

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Speaker 2: I have a rap of my favorite money wins from

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Speaker 2: our community. Money wins thread got you from the start

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Speaker 2: of the week, So let me start. We had a

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Speaker 2: money win from Jackie which I thought was really wholesome.

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Speaker 2: Jackie said, my eight year old son had a stall

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Speaker 2: on our front lawn selling all of his unwanted things.

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Speaker 2: He made over three hundred dollars. He then spent one

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Speaker 2: hundred dollars on himself and put two hundred dollars into savings.

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Speaker 2: Eight years old. What a little legend.

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Speaker 5: You know, why, because people can't say no to cute

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Speaker 5: little kids when they're selling stuff out the front of

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Speaker 5: their house.

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Speaker 3: Why shake you down for money and you're like to

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Speaker 3: take it off?

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Speaker 2: That's very true. Like have you ever walked past the

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Speaker 2: lemonades and run by a five year old? No, because

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Speaker 2: that's illegal.

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Speaker 6: It's illegal.

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Speaker 2: It's illegal, all right. The next comes from Madeleine, and

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Speaker 2: this is just one of my favorite money wins ever.

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Speaker 2: She says, I paid off my credit card and I

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Speaker 2: closed the account this week. How good is that? And

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Speaker 2: you just know it's good because so many people from

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Speaker 2: our community have replied to that.

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Speaker 3: With like love.

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Speaker 2: This is such a great feeling. What a huge relief

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Speaker 2: and like there's more than a hundred likes on that

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Speaker 2: post as well. I love how when we have our

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Speaker 2: money ins, you guys all jump in and celebrate each other.

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Speaker 2: It's my favorite thing ever someone else. So we've got imagen.

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Speaker 2: Imagen said last year I won this She's on the

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Speaker 2: Money Christmas giveaway. Guys, we will have another one. Don't worry,

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Speaker 2: she said, And I want a thousand dollar jest Star voucher.

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Speaker 2: I recently used part of it to take my plane

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Speaker 2: obsessed toddler to the Cold Coast for her birthday, and

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Speaker 2: on her very first plane ride, she had the best time.

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Speaker 2: And he's constantly asking to go again, and he's pointing

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Speaker 2: out whether she can see quote our plane or a

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Speaker 2: different plane in the sky every day. I often tell

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Speaker 2: people that She's on the money has changed my life.

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Speaker 2: But this is really something that would have been well

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Speaker 2: out of budget for us and never would have happened.

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Speaker 6: That's right.

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Speaker 2: Someone under that said what's their SotM, And someone was like,

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Speaker 2: she's on the money during the group, and I just

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Speaker 2: thought that was really funny to keep to keep us

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Speaker 2: a little bit humble. At the same time, Ellen says,

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Speaker 2: I had my eyes on a desk from my Kia,

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Speaker 2: which was four hundred and thirty dollars including delivery. I

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Speaker 2: just found the same desk or marketplace with a small

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Speaker 2: scratch for fifty bucks and I picked it up on Saturday.

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Speaker 3: We love it. Yeah, sick.

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Speaker 2: Isn't that so good?

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Speaker 6: That's great?

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Speaker 2: Alright, got two more. I've got two more my friends, Catherine,

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Speaker 2: She says, I just invested my first ten thousand dollars

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Speaker 2: outside of granuation and maybe doubling it soon due to

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Speaker 2: a trauma insurance payout. It's not the most ideal situation

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Speaker 2: to be in at the age of twenty one. I mean,

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Speaker 2: the process of the airs diagnosis after a whole bunch

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Speaker 2: of upheaval with my life. But I'm determined to not

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Speaker 2: let it impact my goal and i want to live

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Speaker 2: the life I've always dreamed of. Oh isn't that so wholesome?

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Speaker 2: I'm just like, get a queen. Absolutely. And then my

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Speaker 2: last one is this is from Lysette, and I just

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Speaker 2: thought this never happens in real life. Lisette says, after

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Speaker 2: a really long time of religiously doing that's life puzzles

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Speaker 2: in the magazine every week, No I had a good

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Speaker 2: win one my god, cross word.

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Speaker 3: We need a bell to ring.

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Speaker 2: I'm just like, you're doing your crossword, you're having a

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Speaker 2: good weekend or you know, a little afternoon with your kappa.

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Speaker 2: But you didn't think that.

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Speaker 3: A little bit of a tim tam, a cup of tea.

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Speaker 1: I know.

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Speaker 2: I'm sorry if that's not what you're doing. And you're

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Speaker 2: like Victoria, I'm like on my way to my corporate high.

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Speaker 1: Flight job.

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Speaker 3: Blanks or something.

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Speaker 2: Yeah, you will be now, yeah, because you can afford them.

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Speaker 2: But those are my community money wins of the week. Wow,

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Speaker 2: oh my god, ten grand for doing across I used.

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Speaker 6: To do those, so I'm going to get Actually, I'm

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Speaker 6: gonna get back on them.

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Speaker 2: Get back on them. Purs turns out people in our

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Speaker 2: community win them.

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Speaker 7: You can win also really quickly, back to the lemonade

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Speaker 7: standing when we said it's illegal, which I wanted to

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Speaker 7: de clasify it, not selling lemonade illegal, walking pasts illegal

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Speaker 7: just in case, because my brain went to that and

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Speaker 7: I was like, maybe someone else is doing as a producer.

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Speaker 5: I should have picked you up on that, shouldn't I?

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Speaker 5: Oh no, I mean I'm instrolled in the conversation I

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Speaker 5: mean right.

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Speaker 2: Now, all right, speaking of wins, I feel like a

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Speaker 2: lot of people in our community have recently been having

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Speaker 2: wins because they're actually implementing your bex broke tips.

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Speaker 6: Do you think so?

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Speaker 3: Yeah? I am.

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Speaker 2: I'm even getting messages now because people are like, they

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Speaker 2: I need this DM to get to Beck, but I

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Speaker 2: don't have Instagram. Here it is, and I'm like, I've

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Speaker 2: got you. I'll screenshot it, I'll text it to her.

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Speaker 2: Let's get it done for our kIPS. Have you got

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Speaker 2: to share with us this week?

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Speaker 7: Okay, So the first one comes from Abs who says, hey, Beck,

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Speaker 7: I have a brick tip for you. Every now and then,

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Speaker 7: I get my lushes done for free by What she

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Speaker 7: does is she does is by modeling for a lash

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Speaker 7: tech who teaches classes. So she goes to get her

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Speaker 7: lashes unfree by someone who is supervised by professional.

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Speaker 6: Same thing as hairdressing.

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Speaker 7: She gets a haircut by a hairdressing apprentice, also supervised

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Speaker 7: vive professional does a cut in color free or very cheap.

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Speaker 6: At least.

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Speaker 3: I know.

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Speaker 5: We have an episode on girl math, well, girl Math

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Speaker 5: and investing coming up in the not too distant future.

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Speaker 5: I'm getting absolutely sexist. I am getting money lost for

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Speaker 5: me getting my lashes redone before I go away. I

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Speaker 5: can't afford to not because then I'm wasting money on makeup.

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Speaker 2: Right, You're right, it's right. I don't have to. So

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Speaker 2: I've been getting my lashes done since I found out

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Speaker 2: I was pregnant because I feel like a sack of potatoes.

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Speaker 2: Like if you put a pair of lashes on a

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Speaker 2: sack of potatoes, the potatoes become pretty.

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Speaker 3: So this is potato Head is a hot Have you

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Speaker 3: seen hot?

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Speaker 6: She was my childhood crush.

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Speaker 3: Yeah, yeah, who wouldn't.

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Speaker 6: I was obviously talking about this potato Head too.

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Speaker 2: I love it. So I have been justifying it because

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Speaker 2: I'm like, well, these lashes are going to help me

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Speaker 2: feel like a human being. But if you deserve your lashes,

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Speaker 2: I gotta get a lashes otherwise I feel like a

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Speaker 2: little bald bandicoot. That's not an option.

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Speaker 6: Okay, but all.

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Speaker 3: Right, but I get them done by the Apprentice too.

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Speaker 2: Yeah.

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Speaker 5: And I think I paid fifty dollars for my last ones. Yes,

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Speaker 5: and they're money, the expensive ones.

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Speaker 6: I got a full body wax once for free.

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Speaker 2: Full body That's terrifying.

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Speaker 6: It was an experience.

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Speaker 2: You're like to take everything from the eyebrows down.

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Speaker 3: Wait, I don't even have it.

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Speaker 2: But you didn't say that coming I was bad. I

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Speaker 2: saw pray tell all right, definitely.

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Speaker 3: Off, Mike.

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Speaker 6: I'm gonna all right.

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Speaker 2: We can talk about this later over actual Friday, but

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Speaker 2: till then I need your other bex broke tip and

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Speaker 2: then I want to hear yours.

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Speaker 6: Okay.

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Speaker 7: The sext one is from Marina, who says that they

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Speaker 7: buy a bag or two at frozen dumplings and cook

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Speaker 7: them up at home. A bag lasts a few weeks

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Speaker 7: and it is a delicious treat that still lets them

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Speaker 7: feel like they're having a fancy dinner. Ten out of

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Speaker 7: ten recommend actually sounds really good.

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Speaker 3: Tiny food makes you feel fancy.

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Speaker 2: Things that are like oknake yeah, oh yeah, we do

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Speaker 2: know how to say all but.

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Speaker 6: That's not yet mini oreos.

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Speaker 2: Okay, that's a different train, but it's true. And I

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Speaker 2: feel like every second week or so, dumplings that Coals

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Speaker 2: or Woolies are on sale, and like, I don't think

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Speaker 2: anyone should be buying their frozen items full price the cycle.

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Speaker 2: You just know they're gonna be on sale. And if

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Speaker 2: a bag of frozen dumplings is fourteen bucks. Absolutely, not

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Speaker 2: like I'm gonna wait until it's seven, thank you.

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Speaker 6: Absolutely.

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Speaker 7: And also, you know, like frozen spring rolls and get

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Speaker 7: a big box of like two hundred and fifty for

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Speaker 7: like six dollars.

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Speaker 2: Where are you getting two hundred and fifty spring rolls?

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Speaker 3: Maybe?

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Speaker 2: All right, Well, what's your actual broke tip? Because that

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Speaker 2: was a trash one.

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Speaker 7: Okay, My actual broke tip for this week is probably

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Speaker 7: also a little bit of trash, but useful for people

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Speaker 7: like myself in times of need. So there have been

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Speaker 7: times where I've gone to the fridge and gotten out

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Speaker 7: a little thing of butter. There's no butter left, you know,

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Speaker 7: when you have to like really dig into the corners

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Speaker 7: and I just.

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Speaker 2: Put it in the microwave and then I pour it

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Speaker 2: all over.

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Speaker 7: Maybe it's a great idea, or like, you know, I've

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Speaker 7: used vegetable oil and stuff like things that aren't you know,

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Speaker 7: it's I.

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Speaker 2: Would prefer no butter.

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Speaker 7: Sometimes when you need you use literally anything mayonnaise anyway,

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Speaker 7: enough of that.

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Speaker 6: But I saw this.

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Speaker 7: I think it was a TikTok of this person who

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Speaker 7: was doubling or even tripling the amount of butter they

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Speaker 7: had by literally just whipping it.

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Speaker 6: Maybe adding a little bit of milk and whipping it.

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Speaker 7: And so if you like, if you feel like you

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Speaker 7: need a little bit of butter to last you a

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Speaker 7: long time, or you just literally can't afford butter for

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Speaker 7: the week or whatever, Bougie too, you whip the butter.

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Speaker 7: If you literally can't afford like a handheld electric one,

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Speaker 7: you just whatever you need, like, get some get a fork,

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Speaker 7: get a whisk, whatever, and that.

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Speaker 6: Will help elongate or prolong Is.

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Speaker 2: That the right way stretches it?

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Speaker 7: It stretches it. Some people cannot afford these things.

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Speaker 2: No, but like butter's expensive. Butter is really expensive, and

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Speaker 2: Bougie whipped butter. Kids would love that totally hundred I

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Speaker 2: love that. That is a very good tip back.

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Speaker 6: Thank you, all right very much.

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Speaker 2: Let's go to a really quick break. But after the break,

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Speaker 2: we're going to be talking about our money dilemma. We've

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Speaker 2: got someone who wants to talk about how to manage

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Speaker 2: various different accounts, and then we are going to be

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Speaker 2: unpacking something you slid into our dams about which this

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Speaker 2: week is all about a partner who doesn't prayer hire

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Speaker 2: savings don't go anywhere guys. All right, we are back,

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Speaker 2: my friends. Let's have a listen to this week's money dilemma. Hi, there,

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Speaker 2: have you got a money dilemma you just can't solve that.

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Speaker 2: She's on the Money Team is here to help. Every

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Speaker 2: week we tackle your dilemmas, both big and small, to

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Speaker 2: answer your most burning money, career and life questions. To

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Speaker 2: get involved, simply head to our website and leave us

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Speaker 2: a short voice recording and you might just find yourself

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Speaker 2: on the show. Now, let's take a listen to this

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Speaker 2: week's money dilemma. Hi, She's on the Money Team.

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Speaker 8: I recently read your chapter on cash flow, and I'm

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Speaker 8: intending on opening another savings account now. I currently have

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Speaker 8: a short term savings account, and I also have a

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Speaker 8: savings account which I don't make contributions to, which my

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Speaker 8: parents have been contributing to since I was born, which

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Speaker 8: I'm very grateful for. Should I open my new savings

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Speaker 8: account with the intention of it being my emergency fund

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Speaker 8: or long term savings I don't know whether the account

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Speaker 8: which I don't make contributions to should be considered my

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Speaker 8: emergency fund or long term savings account, or am I

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Speaker 8: just overthinking this?

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Speaker 2: Thank you? I think everyone is good at overthinking it.

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Speaker 2: But Annalisa, I'm just going to.

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Speaker 3: Jump right in here.

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Speaker 2: V Yeah, you're fresh to the table.

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Speaker 3: I've highly qualified to answer this question. Yeah.

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Speaker 5: Well, she has her own band as reading from the

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Speaker 5: book of Victoria Devine, I can say, straight up, if

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Speaker 5: you have any consumert you pay that off first.

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Speaker 3: But what's the most important thing, your emergency fund fund.

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Speaker 3: Get that emergency fund going, honey.

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Speaker 2: So we don't even need me like that producer just

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Speaker 2: knows me like the back of her hand.

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Speaker 3: She's like Victoria or that would be terrify.

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Speaker 2: I'm kind of great because I mean, I do last work.

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Speaker 5: Heard from, and it's it's to get your emergency fund

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Speaker 5: going if you can. And that's not the first thing

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Speaker 5: you should do. Of course, pay off any can debt.

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Speaker 5: But it sounds un fortunately this.

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Speaker 2: If you're not in any consumer debt, you are correct.

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00:18:03,800 --> 00:18:06,480
Speaker 2: The next step would be really focusing on an emergency

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Speaker 2: fund as the like kind of next hygiene box to tick.

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Speaker 2: But it's interesting because I don't think you gave us

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Speaker 2: enough context for me to be able to appropriately go, oh,

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Speaker 2: well this that the other. So let's pretend you've got

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Speaker 2: your short term savings account. For me, I wouldn't be

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Speaker 2: looking at short term savings account as something to rely

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Speaker 2: on because obviously it might be for your next holiday analysa,

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Speaker 2: or it might be for you know, you to get

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Speaker 2: your car serviced or something.

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Speaker 3: So which means my short term it's like.

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Speaker 2: Usually it's all those things that you have to sup. Yeah,

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Speaker 2: it's those things that you have to save for that

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Speaker 2: you will spend the money on in less than twelve

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Speaker 2: months usually, So short term savings is anywhere between. I

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Speaker 2: would say twelve to twenty four months. Anything above and

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Speaker 2: beyond that I would look at as more longer term savings.

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Speaker 2: You mentioned that you have a savings account that your

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Speaker 2: parents will contributing to. That's fantastic, But how much.

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Speaker 3: Is in that?

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Speaker 2: So is that amount enough for an emergency fund? So

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Speaker 2: pretend you have no Pretend you don't have any of

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Speaker 2: those accounts, because at the moment I can tell they're

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Speaker 2: overwhelming you. You're like, where should I be? What should

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Speaker 2: I do? How much do you want in an emergency

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Speaker 2: fund if you've got one? So what does that look like?

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Speaker 2: For most people in our community, they want at least

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Speaker 2: three months worth of their expenses. So We're not talking

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Speaker 2: three months worth of expenses and savings and all your investments.

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Speaker 2: We're just like, all right, Beck, if sh one t

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Speaker 2: hit the fan tomorrow, how much would it cost you

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Speaker 2: for three months to just put food on the table,

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Speaker 2: pay your rent, and pay your bills and be okay?

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Speaker 2: What would that look like? And you might go, oh, V,

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Speaker 2: that's like five thousand dollars, and I go okay, no worries.

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Speaker 2: That might then become your goal for an emergency fund.

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Speaker 2: There's no right or wrong when it comes to emergency funds.

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Speaker 2: Because you might go, V, I see your logic, but

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Speaker 2: I'm an anxious girl. We and I need ten thousand dollars.

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Speaker 2: There might be no rhyme or reason to that. That's

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Speaker 2: just a number that's in your head that makes you

445
00:19:54,480 --> 00:19:57,360
Speaker 2: feel comfortable. You do you I don't care. You might

446
00:19:57,400 --> 00:19:59,560
Speaker 2: also go I don't care about an emergency fund. I

447
00:19:59,640 --> 00:20:02,000
Speaker 2: see you're logic, and I raise you my logic, which

448
00:20:02,040 --> 00:20:04,520
Speaker 2: is only five hundred dollars in that account, at which

449
00:20:04,520 --> 00:20:07,840
Speaker 2: point I go, that's fine, as long as it's a confident,

450
00:20:08,240 --> 00:20:12,080
Speaker 2: educated decision where you know that you know our community

451
00:20:12,160 --> 00:20:14,360
Speaker 2: usually have three months, but you've got some reason as

452
00:20:14,359 --> 00:20:17,680
Speaker 2: to why you're comfortable with that. Again, there's no right

453
00:20:17,800 --> 00:20:20,680
Speaker 2: or wrong, there's just guidance where I think everybody always

454
00:20:20,680 --> 00:20:22,800
Speaker 2: wants a number, right, Like, every time I talk to

455
00:20:22,800 --> 00:20:24,760
Speaker 2: someone about how much should I be saving, they're always

456
00:20:24,760 --> 00:20:27,600
Speaker 2: saying what percentage of my income should I be saving?

457
00:20:27,640 --> 00:20:29,640
Speaker 2: And I go, I can't tell you that because if

458
00:20:29,640 --> 00:20:33,119
Speaker 2: I said ten percent back, that's wildly inaccurate for a

459
00:20:33,200 --> 00:20:35,959
Speaker 2: single mum who's on an income of forty thousand dollars,

460
00:20:36,160 --> 00:20:39,960
Speaker 2: but definitely not enough. If you're a radio podcast producer

461
00:20:40,000 --> 00:20:42,640
Speaker 2: on four hundred thousand dollars, you know, sorry, which ones.

462
00:20:42,440 --> 00:20:45,159
Speaker 3: Are ver that much? Hey, I'd like to meet that person?

463
00:20:45,359 --> 00:20:47,119
Speaker 2: No, but do you know what I mean? These things

464
00:20:47,200 --> 00:20:50,280
Speaker 2: don't make sense for everybody, so we need to make

465
00:20:50,320 --> 00:20:53,399
Speaker 2: sure that they make sense for our circumstances. So pretend

466
00:20:53,440 --> 00:20:55,639
Speaker 2: your short term savings aren't there, because you've obviously got

467
00:20:55,720 --> 00:20:58,680
Speaker 2: that pre allocated. You then need your emergency fund. Whether

468
00:20:58,720 --> 00:21:01,119
Speaker 2: your emergency fund is that at that your parents have

469
00:21:01,320 --> 00:21:04,000
Speaker 2: set aside for you or not, it's going to depend

470
00:21:04,040 --> 00:21:06,000
Speaker 2: on whether you would be willing to get rid of

471
00:21:06,080 --> 00:21:08,960
Speaker 2: those funds if an emergency arose. So, if your parents

472
00:21:08,960 --> 00:21:10,879
Speaker 2: have been saving for a really long time, But the

473
00:21:10,920 --> 00:21:13,680
Speaker 2: intention of that was maybe to be a house to

474
00:21:13,720 --> 00:21:17,360
Speaker 2: bosit sure or something like that. That's not your emergency fund,

475
00:21:17,480 --> 00:21:20,199
Speaker 2: my friend. But if you got into, you know, a

476
00:21:20,200 --> 00:21:23,119
Speaker 2: little bit of a bingle. No one was hurt, but

477
00:21:23,200 --> 00:21:25,520
Speaker 2: you ran into the back of something a little bit

478
00:21:25,560 --> 00:21:28,679
Speaker 2: of a prang, would you be happy spending that money

479
00:21:28,880 --> 00:21:32,160
Speaker 2: on fixing your cut. If the answer is no, we

480
00:21:32,240 --> 00:21:34,560
Speaker 2: need to not look at that as your emergency savings

481
00:21:34,600 --> 00:21:39,080
Speaker 2: or your emergency fund. So a long term savings account fantastic,

482
00:21:39,200 --> 00:21:41,600
Speaker 2: But what are our long term goals? So before you

483
00:21:41,640 --> 00:21:44,480
Speaker 2: said you had just finished my chapter on cashlow, thank you,

484
00:21:44,480 --> 00:21:47,240
Speaker 2: you would know that I recommend having at least three

485
00:21:47,400 --> 00:21:49,439
Speaker 2: savings accounts or a short term, a long term, and

486
00:21:49,480 --> 00:21:53,640
Speaker 2: an emergency. Do that however you wish. I don't think

487
00:21:53,640 --> 00:21:55,320
Speaker 2: that there is a right or a wrong, But what

488
00:21:55,359 --> 00:21:57,840
Speaker 2: I'm hearing is that amount, especially in the tone that

489
00:21:57,880 --> 00:21:59,399
Speaker 2: you said, oh, my parents have been saving it for

490
00:21:59,440 --> 00:22:01,119
Speaker 2: a really long time time, I'm going to make the

491
00:22:01,119 --> 00:22:04,119
Speaker 2: grand assumption that's probably not your emergency fund because the

492
00:22:04,200 --> 00:22:06,480
Speaker 2: intention of those funds was probably not to get you

493
00:22:06,520 --> 00:22:08,639
Speaker 2: out of that little bingal that you help with your car.

494
00:22:09,200 --> 00:22:11,720
Speaker 2: It's probably for longer term goal setting. It might be

495
00:22:11,760 --> 00:22:15,320
Speaker 2: for a fusure, wedding or a holiday or something life changing.

496
00:22:15,760 --> 00:22:19,760
Speaker 2: Whereas you might need to work up your emergency fund

497
00:22:19,800 --> 00:22:22,520
Speaker 2: and have that segregated out. So have a think about

498
00:22:22,640 --> 00:22:26,040
Speaker 2: what the money wants to go towards, because sometimes money

499
00:22:26,080 --> 00:22:28,560
Speaker 2: does have emotional attachment, right like your parents save for

500
00:22:28,560 --> 00:22:30,800
Speaker 2: a really long time. You might not want to blow

501
00:22:30,840 --> 00:22:33,120
Speaker 2: that because you run a red light and have to

502
00:22:33,160 --> 00:22:34,680
Speaker 2: do a really expensive spedding fund.

503
00:22:34,800 --> 00:22:38,160
Speaker 3: You know, wise words me very well.

504
00:22:38,600 --> 00:22:42,320
Speaker 2: It's coming to my tech talk guys. All right, let's

505
00:22:42,400 --> 00:22:45,919
Speaker 2: move on because we have this week a community.

506
00:22:45,440 --> 00:22:50,400
Speaker 5: DN speaking of savings, speaking of savings and spendings, isn't it.

507
00:22:50,400 --> 00:22:53,000
Speaker 2: Posted this on the stories the other day. You guys

508
00:22:53,040 --> 00:22:57,320
Speaker 2: were spicy to say the least. All right, so here's

509
00:22:57,359 --> 00:22:59,919
Speaker 2: the DM. Hey ladies, would love to hear your advice.

510
00:23:00,119 --> 00:23:01,920
Speaker 2: My boyfriend and I have been together for a few

511
00:23:01,920 --> 00:23:05,160
Speaker 2: months now and things are going so well. Congrats quit nice.

512
00:23:05,440 --> 00:23:08,120
Speaker 2: I feel so happy being with him, and I haven't

513
00:23:08,160 --> 00:23:10,639
Speaker 2: had a connection like this in a long time. But

514
00:23:11,040 --> 00:23:14,600
Speaker 2: the only thing is we got onto the very fun

515
00:23:14,600 --> 00:23:17,040
Speaker 2: topic of finances the other day and I found out

516
00:23:17,080 --> 00:23:20,600
Speaker 2: he only has three thousand dollars in savings. I'm not sure,

517
00:23:20,640 --> 00:23:23,360
Speaker 2: but is this a red flag to you? We are

518
00:23:23,400 --> 00:23:26,119
Speaker 2: both in our mid thirties and I have solid savings

519
00:23:26,200 --> 00:23:30,080
Speaker 2: and an investment portfolio. Now, obviously the relationship is new,

520
00:23:30,240 --> 00:23:32,880
Speaker 2: but at the same time, at the age of thirty six,

521
00:23:33,200 --> 00:23:35,080
Speaker 2: I'm thinking about the future and I want to settle

522
00:23:35,119 --> 00:23:37,480
Speaker 2: down and have a family one day. It's not something

523
00:23:37,520 --> 00:23:40,160
Speaker 2: i'm judging him on, and it's not like I need

524
00:23:40,160 --> 00:23:42,879
Speaker 2: my partner to have heaps of money, but it does

525
00:23:42,920 --> 00:23:45,960
Speaker 2: feel slightly concerning that he doesn't have any financial goals

526
00:23:46,000 --> 00:23:48,320
Speaker 2: at this age. Do you think I'm overthinking it and

527
00:23:48,359 --> 00:23:51,160
Speaker 2: I should stop worrying about it, or do you think

528
00:23:51,200 --> 00:23:54,159
Speaker 2: it's a serious word flag and I should really reconsider

529
00:23:54,200 --> 00:23:57,000
Speaker 2: this relationship. Please help. She's on the money.

530
00:23:58,000 --> 00:24:01,680
Speaker 3: Good heavens girl, you need to cool your jets. WHOA,

531
00:24:02,320 --> 00:24:03,600
Speaker 3: I'm just going to jump straight.

532
00:24:03,400 --> 00:24:06,399
Speaker 2: In there, living crisis, Karen.

533
00:24:06,600 --> 00:24:09,040
Speaker 3: Only three thousand dollars, that's so much money.

534
00:24:10,800 --> 00:24:14,480
Speaker 7: Also, someone who saves at all probably has some financial

535
00:24:14,520 --> 00:24:15,640
Speaker 7: goals saving it.

536
00:24:15,640 --> 00:24:17,720
Speaker 3: Jumps straight to has no financial goals.

537
00:24:17,720 --> 00:24:21,880
Speaker 7: That is a brutal That is me with zero savings

538
00:24:21,920 --> 00:24:23,720
Speaker 7: listening to that was like, okay, I don't think she

539
00:24:23,760 --> 00:24:24,439
Speaker 7: would ever take me.

540
00:24:24,960 --> 00:24:26,800
Speaker 2: But when I started dating my husband, I was in

541
00:24:26,840 --> 00:24:28,200
Speaker 2: significant personal debt.

542
00:24:28,160 --> 00:24:28,400
Speaker 1: So.

543
00:24:30,240 --> 00:24:33,159
Speaker 5: Walking red, flat and mid like, I don't know, I

544
00:24:33,160 --> 00:24:33,879
Speaker 5: think that's something.

545
00:24:34,240 --> 00:24:36,160
Speaker 3: Okay, it sounds like we're all on the same side

546
00:24:36,200 --> 00:24:36,600
Speaker 3: of the table.

547
00:24:36,680 --> 00:24:38,600
Speaker 2: Yes, we're on his side. We're like getting king.

548
00:24:38,920 --> 00:24:40,320
Speaker 3: Yeah, I bet he's a sweet prince.

549
00:24:40,960 --> 00:24:43,040
Speaker 2: Well, yeah, you think he's a sweet prince. And now

550
00:24:43,040 --> 00:24:44,560
Speaker 2: you're looking out of his bank.

551
00:24:44,359 --> 00:24:47,959
Speaker 5: Accounts months like, Okay, my mum gave me a very

552
00:24:48,000 --> 00:24:48,840
Speaker 5: good piece of advice.

553
00:24:48,880 --> 00:24:52,080
Speaker 2: Okay, that was Is this going to rock my relationship?

554
00:24:54,720 --> 00:24:54,960
Speaker 5: Got it?

555
00:24:55,000 --> 00:24:55,520
Speaker 2: Going back?

556
00:24:55,600 --> 00:24:56,440
Speaker 3: I think you did well.

557
00:24:56,880 --> 00:25:02,159
Speaker 5: No new partner, new job, new house, new friends, four months,

558
00:25:02,280 --> 00:25:04,920
Speaker 5: don't make any opinions up until at least four months

559
00:25:04,920 --> 00:25:06,880
Speaker 5: in So how many months are we talking? Firstly, yes

560
00:25:06,920 --> 00:25:07,520
Speaker 5: it's going well.

561
00:25:07,520 --> 00:25:09,920
Speaker 3: If it's not going well in that time, she said three.

562
00:25:11,240 --> 00:25:12,520
Speaker 3: We're not quite at the four months mark.

563
00:25:12,640 --> 00:25:14,080
Speaker 2: So would she say three?

564
00:25:14,200 --> 00:25:17,560
Speaker 5: Wait, even though she said a few, I think a couple,

565
00:25:17,640 --> 00:25:20,639
Speaker 5: a few she said a few, Okay, very general.

566
00:25:20,760 --> 00:25:22,760
Speaker 2: In my head, a few months is definitely three.

567
00:25:23,080 --> 00:25:25,720
Speaker 5: Okay, yeah, because a couple, you say, a couple of two,

568
00:25:26,000 --> 00:25:26,760
Speaker 5: A few is three?

569
00:25:27,000 --> 00:25:31,960
Speaker 3: Yeah. Wait, another few right rackon, I think.

570
00:25:32,200 --> 00:25:34,680
Speaker 2: I think we need to know more about winning story.

571
00:25:34,760 --> 00:25:35,600
Speaker 3: We are background.

572
00:25:37,400 --> 00:25:38,720
Speaker 2: What would your thoughts on this be?

573
00:25:39,000 --> 00:25:41,480
Speaker 6: Are you saying, wait a few months before, Well, I just.

574
00:25:41,440 --> 00:25:46,520
Speaker 5: Think she's like peaking really really quickly and worrying and worrying. Firstly,

575
00:25:46,560 --> 00:25:49,719
Speaker 5: I think three thousand dollars is perfectly fine, but it

576
00:25:49,720 --> 00:25:51,840
Speaker 5: also it depends like what does this person do. Do

577
00:25:51,920 --> 00:25:54,280
Speaker 5: they earn hundreds of thousands of dollars a year and

578
00:25:54,920 --> 00:25:58,280
Speaker 5: aren't capable of saving anything? Are they unemployed and they

579
00:25:58,320 --> 00:26:01,440
Speaker 5: have three thousand dollars? What's anyway? We need a lot,

580
00:26:01,640 --> 00:26:03,160
Speaker 5: We need so much more information.

581
00:26:03,640 --> 00:26:06,520
Speaker 7: So I guess, like, obviously it depends on if you

582
00:26:06,600 --> 00:26:08,679
Speaker 7: have joint financial goals.

583
00:26:08,680 --> 00:26:09,560
Speaker 6: That might make it tricky.

584
00:26:09,600 --> 00:26:11,920
Speaker 7: If someone's like I actually am probably not going to say,

585
00:26:12,119 --> 00:26:14,359
Speaker 7: or I actually don't have the same financial goal as you,

586
00:26:14,680 --> 00:26:17,080
Speaker 7: but like, yeah, it's been three months, wait a little longer.

587
00:26:17,160 --> 00:26:19,960
Speaker 7: Let's say hypothetically it's been years and they're both trying

588
00:26:19,960 --> 00:26:20,560
Speaker 7: to say.

589
00:26:20,400 --> 00:26:21,320
Speaker 6: For a house or something.

590
00:26:22,320 --> 00:26:23,520
Speaker 3: I don't know.

591
00:26:23,720 --> 00:26:25,679
Speaker 7: I mean, like, I guess it makes it tricky, but

592
00:26:25,720 --> 00:26:27,600
Speaker 7: it's I wouldn't call it a red flag.

593
00:26:27,720 --> 00:26:28,600
Speaker 6: I would be like, you know.

594
00:26:28,760 --> 00:26:32,920
Speaker 7: Just maybe if you in a few years time, decide

595
00:26:32,960 --> 00:26:36,920
Speaker 7: to have the same financial goal and only one party

596
00:26:37,080 --> 00:26:39,919
Speaker 7: is putting in the effort. Then just like I don't know,

597
00:26:40,040 --> 00:26:43,560
Speaker 7: put in this amount, the other person puts in their amount.

598
00:26:43,880 --> 00:26:45,240
Speaker 7: When you go to buy a house or buy a

599
00:26:45,280 --> 00:26:47,560
Speaker 7: car or whatever. And then if you ever sell it,

600
00:26:47,720 --> 00:26:49,560
Speaker 7: you get yours back, they get theirs back. You don't

601
00:26:49,560 --> 00:26:51,800
Speaker 7: split everything in the middle. You don't have to split

602
00:26:51,800 --> 00:26:52,400
Speaker 7: everything in the middle.

603
00:26:52,440 --> 00:26:52,800
Speaker 6: You know what I mean.

604
00:26:52,840 --> 00:26:54,320
Speaker 2: Doesn't always be equity.

605
00:26:55,560 --> 00:26:57,119
Speaker 6: Yes, So I don't know.

606
00:26:57,240 --> 00:27:00,760
Speaker 2: I think, don't worry, beg things, just don't worry, story,

607
00:27:00,920 --> 00:27:01,200
Speaker 2: just talk.

608
00:27:01,640 --> 00:27:02,000
Speaker 3: I think.

609
00:27:02,080 --> 00:27:04,760
Speaker 5: I think to summarize me, put a bookmark in that page,

610
00:27:04,760 --> 00:27:06,679
Speaker 5: in that part of the chapter, and you revisit that

611
00:27:06,720 --> 00:27:08,679
Speaker 5: a little bit further down the line, because I think

612
00:27:08,680 --> 00:27:09,720
Speaker 5: it's a bit soon to.

613
00:27:09,720 --> 00:27:11,760
Speaker 6: Be yes, you know, highlight it.

614
00:27:12,000 --> 00:27:14,399
Speaker 2: I like that you know he has three thousand dollars

615
00:27:14,400 --> 00:27:17,359
Speaker 2: in savings, because that, to me is a reflection that

616
00:27:17,359 --> 00:27:20,840
Speaker 2: you've had some conversations about money, which is very positive,

617
00:27:20,920 --> 00:27:24,199
Speaker 2: especially at that point in a relationship, like early on,

618
00:27:24,320 --> 00:27:26,119
Speaker 2: like you kind of like bury your heads in the sand.

619
00:27:26,480 --> 00:27:29,119
Speaker 2: As I said before, when I got with my now husband,

620
00:27:29,200 --> 00:27:31,480
Speaker 2: I was in significant personal debt and I hit it

621
00:27:31,520 --> 00:27:33,520
Speaker 2: for a really long time. I didn't like lie about it,

622
00:27:33,560 --> 00:27:35,439
Speaker 2: but I just didn't tell him, And then when I

623
00:27:35,440 --> 00:27:37,600
Speaker 2: did tell him, he was kind of like a red flag.

624
00:27:37,640 --> 00:27:38,160
Speaker 3: But weally love.

625
00:27:38,240 --> 00:27:41,679
Speaker 2: So this is a bit deep and like, haha, sucker,

626
00:27:41,920 --> 00:27:45,000
Speaker 2: don't do what I did, like do what I say,

627
00:27:45,080 --> 00:27:48,440
Speaker 2: not as I do. Like anyway, I just think it's

628
00:27:48,520 --> 00:27:50,680
Speaker 2: such a hard situation to be in because you don't

629
00:27:50,720 --> 00:27:54,240
Speaker 2: know enough about the money story and where that's come from, Like,

630
00:27:54,720 --> 00:27:57,479
Speaker 2: you know, has he just been a party boy? Like

631
00:27:57,520 --> 00:27:59,199
Speaker 2: has he just been living his best life? Did he

632
00:27:59,280 --> 00:28:02,240
Speaker 2: just beend thirty dollars the year before going and having

633
00:28:02,240 --> 00:28:04,879
Speaker 2: this euro trip of dreams and had saved up for that,

634
00:28:05,080 --> 00:28:07,840
Speaker 2: and you know, had gone I'm single, I'm going to

635
00:28:07,880 --> 00:28:09,399
Speaker 2: live my best life. And then he's met you the

636
00:28:09,480 --> 00:28:12,320
Speaker 2: love of his life, and his priorities are going to shift.

637
00:28:12,680 --> 00:28:15,440
Speaker 2: I'm not trying to romanticize it. Nobody needs to have

638
00:28:15,480 --> 00:28:18,240
Speaker 2: the same life goals. But I remember I was in

639
00:28:18,280 --> 00:28:20,360
Speaker 2: personal debt and I have my head in the sand

640
00:28:20,440 --> 00:28:21,960
Speaker 2: until I met my husband, and I was like, oh,

641
00:28:22,000 --> 00:28:23,639
Speaker 2: I really need to get my stuff together, Like I

642
00:28:23,680 --> 00:28:25,879
Speaker 2: really want to build a life with this person. I

643
00:28:25,920 --> 00:28:28,280
Speaker 2: really want to share these financial goals and buy a

644
00:28:28,280 --> 00:28:30,400
Speaker 2: house and all of that. But up until that point,

645
00:28:30,440 --> 00:28:31,960
Speaker 2: I was kind of like, bere, I just do what

646
00:28:32,000 --> 00:28:34,160
Speaker 2: I want. I'm a single lady. I don't even care,

647
00:28:34,720 --> 00:28:37,840
Speaker 2: and like, I just think that that's valid. Also, we're

648
00:28:37,840 --> 00:28:39,719
Speaker 2: in the middle of a cost of living crisis. Like

649
00:28:40,160 --> 00:28:41,760
Speaker 2: three grand is a lot of money to have in

650
00:28:41,760 --> 00:28:43,920
Speaker 2: the bank, and if you look at what the average

651
00:28:43,920 --> 00:28:47,960
Speaker 2: Australian can do, the average Australian cannot access five hundred

652
00:28:48,000 --> 00:28:51,040
Speaker 2: dollars in an emergency. He's above and beyond that. Get

653
00:28:51,040 --> 00:28:54,680
Speaker 2: a king, get it. Like that's so good, that's financial security.

654
00:28:54,720 --> 00:28:57,760
Speaker 2: Maybe that's his emergency fund totally. Maybe he's working his

655
00:28:57,800 --> 00:29:00,760
Speaker 2: way up in a Korea where he, you know, actually

656
00:29:00,800 --> 00:29:04,000
Speaker 2: has been really really poorly paid. I don't know, you

657
00:29:04,080 --> 00:29:06,080
Speaker 2: haven't told me. Maybe he's been a med student for

658
00:29:06,120 --> 00:29:08,760
Speaker 2: the last seven years and has lived off twenty thousand

659
00:29:08,800 --> 00:29:11,040
Speaker 2: dollars a year, and all of a sudden, he's gonna,

660
00:29:11,080 --> 00:29:12,959
Speaker 2: you know, go do his training as an anethetist and

661
00:29:13,000 --> 00:29:14,480
Speaker 2: be on half a million dollars a year in the

662
00:29:14,520 --> 00:29:16,719
Speaker 2: next ten years. Totally, Like you don't know that. You

663
00:29:16,760 --> 00:29:19,600
Speaker 2: haven't given me that context. So I think it's important

664
00:29:19,640 --> 00:29:22,800
Speaker 2: to sit down not necessarily judge how much he has,

665
00:29:22,880 --> 00:29:26,160
Speaker 2: but more those money habits, Like is this because you

666
00:29:26,200 --> 00:29:29,120
Speaker 2: know he's been on a drug ram page and he

667
00:29:29,160 --> 00:29:30,880
Speaker 2: has a co co addiction? You don't know?

668
00:29:31,200 --> 00:29:31,960
Speaker 3: But do you know what I mean?

669
00:29:32,160 --> 00:29:34,520
Speaker 2: There's so many different things that come into this and

670
00:29:34,560 --> 00:29:37,200
Speaker 2: I don't think it's our place to judge, nor do

671
00:29:37,280 --> 00:29:39,640
Speaker 2: I think it is your place to judge. But if

672
00:29:39,680 --> 00:29:42,200
Speaker 2: you see a future with this person, talking about, well,

673
00:29:42,200 --> 00:29:44,880
Speaker 2: what does saving together look like in the future? Probably

674
00:29:44,880 --> 00:29:47,400
Speaker 2: not three months in let's be honest, Like to me,

675
00:29:48,000 --> 00:29:50,640
Speaker 2: if you were getting a shared account at three months,

676
00:29:50,680 --> 00:29:54,560
Speaker 2: I'd be like baybread flats. But just having these conversations,

677
00:29:54,640 --> 00:29:57,640
Speaker 2: do you want to plan holidays together? If so, what

678
00:29:57,760 --> 00:30:00,840
Speaker 2: does contributing to those holidays together look like? If you

679
00:30:00,920 --> 00:30:03,080
Speaker 2: want to you know, let's pretend it's a year down

680
00:30:03,120 --> 00:30:04,800
Speaker 2: the track and you're like, oh, we really want to

681
00:30:05,080 --> 00:30:07,000
Speaker 2: get married and have a baby and all of this

682
00:30:07,080 --> 00:30:10,000
Speaker 2: other stuff. What does that type of contribution look like?

683
00:30:10,080 --> 00:30:13,240
Speaker 2: Because they're all different, right, Like, you know, he might

684
00:30:13,280 --> 00:30:15,640
Speaker 2: not have had financial goals until he found meaning in

685
00:30:15,680 --> 00:30:17,880
Speaker 2: his life, and you might be that meaning. I don't

686
00:30:17,880 --> 00:30:20,680
Speaker 2: want to be too dramatic, but like you just don't

687
00:30:20,720 --> 00:30:24,800
Speaker 2: know what you don't know because this dude literally had

688
00:30:24,840 --> 00:30:27,400
Speaker 2: no financial literacy like I was when I was younger,

689
00:30:27,480 --> 00:30:29,560
Speaker 2: got himself into a mountain of debt, just gotten out

690
00:30:29,600 --> 00:30:31,400
Speaker 2: of it. And that's the first three grand he's saved.

691
00:30:31,440 --> 00:30:34,200
Speaker 2: And he's so ridiculously proud of that because he has

692
00:30:34,240 --> 00:30:37,400
Speaker 2: gone from being in massive amounts of consumer debt having

693
00:30:37,400 --> 00:30:40,280
Speaker 2: three grand in the bank. Are you now downplaying it

694
00:30:40,320 --> 00:30:41,200
Speaker 2: because you're like, Oh.

695
00:30:41,040 --> 00:30:41,560
Speaker 3: It's not much?

696
00:30:41,640 --> 00:30:42,440
Speaker 2: Is that a red flag?

697
00:30:42,800 --> 00:30:42,880
Speaker 1: No?

698
00:30:43,080 --> 00:30:45,600
Speaker 2: Look at what he's done. Sure, does that make sense?

699
00:30:45,640 --> 00:30:46,000
Speaker 1: I don't know.

700
00:30:46,040 --> 00:30:46,960
Speaker 2: I just think it's way too.

701
00:30:46,960 --> 00:30:48,880
Speaker 5: Early to wait for our community judge. It's like, we've

702
00:30:48,880 --> 00:30:50,640
Speaker 5: got to not spend too long on this. But I

703
00:30:50,640 --> 00:30:52,120
Speaker 5: just thought of something that could throw a little bit

704
00:30:52,120 --> 00:30:53,800
Speaker 5: of it. And I'm interested in your perspective on this.

705
00:30:54,200 --> 00:30:56,360
Speaker 3: A little bit of a devil's advocate here, Okay.

706
00:30:57,360 --> 00:31:02,240
Speaker 5: If this is so triggering her and she's peaking this

707
00:31:02,440 --> 00:31:06,240
Speaker 5: much this quick, maybe he's not the right one for her,

708
00:31:06,960 --> 00:31:07,920
Speaker 5: right and it's.

709
00:31:07,800 --> 00:31:09,200
Speaker 3: Not actually about him, it's about her.

710
00:31:09,240 --> 00:31:12,040
Speaker 5: Maybe she's really insecure, Like it sounds to me like

711
00:31:12,120 --> 00:31:14,560
Speaker 5: she's very frantic and very anxious about this. Stuff.

712
00:31:14,600 --> 00:31:16,320
Speaker 3: So actually, also, maybe.

713
00:31:16,160 --> 00:31:21,160
Speaker 5: Babe, if you're red flagging at this point, then you

714
00:31:21,360 --> 00:31:22,600
Speaker 5: shouldn't try to change him.

715
00:31:22,920 --> 00:31:27,200
Speaker 2: Yeah, Like, do you know what, It's easier to change

716
00:31:27,240 --> 00:31:29,720
Speaker 2: the man than his financial priorities. I'm telling you that

717
00:31:29,840 --> 00:31:32,480
Speaker 2: right now, I just switch out the man. Yeah, you'll

718
00:31:32,520 --> 00:31:37,240
Speaker 2: be right. That's probably terrible advice, but it's literally easier

719
00:31:37,360 --> 00:31:41,760
Speaker 2: to change the man change a man. I see what

720
00:31:41,800 --> 00:31:44,440
Speaker 2: you're saying, Like, you can't change somebody, So just maybe.

721
00:31:44,280 --> 00:31:47,640
Speaker 3: This person needs like a someone on Shark Tank. Yeah,

722
00:31:49,240 --> 00:31:50,280
Speaker 3: whoever those people are.

723
00:31:50,480 --> 00:31:53,400
Speaker 2: All right, let's ask the community. Yes, I was surprised

724
00:31:53,440 --> 00:31:55,480
Speaker 2: by this. Forty eight percent of you thought that was

725
00:31:55,480 --> 00:31:56,080
Speaker 2: a red flag.

726
00:31:58,240 --> 00:31:59,720
Speaker 6: Oh no, all right.

727
00:32:00,080 --> 00:32:02,560
Speaker 2: Then asked do you think money matters more in a

728
00:32:02,600 --> 00:32:06,640
Speaker 2: relationship the older you are? Eighty two percent of you

729
00:32:06,640 --> 00:32:07,400
Speaker 2: said yes.

730
00:32:07,960 --> 00:32:08,520
Speaker 1: Well.

731
00:32:10,320 --> 00:32:12,960
Speaker 2: Do you think you need to have similar money values

732
00:32:13,000 --> 00:32:14,800
Speaker 2: and goals for a relationship to work?

733
00:32:15,080 --> 00:32:16,480
Speaker 3: Yes?

734
00:32:16,640 --> 00:32:19,320
Speaker 2: Yeah, correct. Eighty eight percent of you said yeah, okay. Well,

735
00:32:20,120 --> 00:32:22,400
Speaker 2: we said if this were you, what would you do?

736
00:32:23,120 --> 00:32:25,240
Speaker 2: So two percent of you said we'd consider ending in

737
00:32:25,240 --> 00:32:31,000
Speaker 2: the relationship. I'm happy with that. Eighty eight percent of

738
00:32:31,040 --> 00:32:33,800
Speaker 2: you said I'd talk to them about my concerns. Communication

739
00:32:33,920 --> 00:32:37,440
Speaker 2: is friends, and ten percent of you said just stop

740
00:32:37,480 --> 00:32:39,560
Speaker 2: overthinking it and go and enjoy your relationship.

741
00:32:39,720 --> 00:32:42,080
Speaker 5: I think we're part of the ten percent.

742
00:32:42,640 --> 00:32:45,000
Speaker 2: I would talk to them about it. I wouldn't bring up, hey,

743
00:32:45,000 --> 00:32:48,160
Speaker 2: I'm concerned that you only have X. I would literally

744
00:32:48,240 --> 00:32:50,200
Speaker 2: just be like, hey, how'd you grow up around money? Like,

745
00:32:50,280 --> 00:32:51,800
Speaker 2: let's have these money compact.

746
00:32:51,480 --> 00:32:52,960
Speaker 3: A psychological deep dip right now.

747
00:32:54,160 --> 00:32:57,280
Speaker 2: But my poor husband, I'm always like, so, how do

748
00:32:57,280 --> 00:32:58,800
Speaker 2: you feel about that? And he's like, yeah, good, and

749
00:32:58,840 --> 00:33:01,480
Speaker 2: I'm like that's not good enough. Excuse what are you

750
00:33:01,520 --> 00:33:02,000
Speaker 2: going to say?

751
00:33:02,040 --> 00:33:03,120
Speaker 1: Now? Yeah?

752
00:33:03,240 --> 00:33:05,160
Speaker 2: Did you just deep dive in tell you're feeling right now?

753
00:33:05,160 --> 00:33:08,880
Speaker 2: Why do you think you were so defensive when you said, yeah, fine, yeah, sure,

754
00:33:08,880 --> 00:33:11,160
Speaker 2: fair en not lucky? All right? So then we said

755
00:33:11,200 --> 00:33:13,800
Speaker 2: what are your two cents? With love to hear, let

756
00:33:13,880 --> 00:33:16,120
Speaker 2: me read out some of the responses I've obviously summarized.

757
00:33:16,160 --> 00:33:18,400
Speaker 2: If you and one of you said, the amount isn't

758
00:33:18,400 --> 00:33:21,360
Speaker 2: a red flag? The lack of goals is? I get that,

759
00:33:21,640 --> 00:33:23,520
Speaker 2: But also, how do you know he doesn't have any goals?

760
00:33:23,720 --> 00:33:25,080
Speaker 6: We know that's how do you know?

761
00:33:25,200 --> 00:33:28,320
Speaker 2: Because you're wondering whether three thousand dollars is a red flag?

762
00:33:28,360 --> 00:33:29,960
Speaker 2: But you haven't asked what that three grand.

763
00:33:29,760 --> 00:33:32,440
Speaker 6: Is for, yes, or where it came from, how you

764
00:33:32,440 --> 00:33:33,200
Speaker 6: got here?

765
00:33:33,480 --> 00:33:36,400
Speaker 2: Someone said, do you know that he doesn't have any

766
00:33:36,480 --> 00:33:38,880
Speaker 2: other money or investments somewhere else? Or is there a

767
00:33:38,920 --> 00:33:40,520
Speaker 2: genuinely good reason for this amount?

768
00:33:40,800 --> 00:33:41,120
Speaker 1: M M.

769
00:33:42,440 --> 00:33:45,640
Speaker 2: Has he potentially gambled in his life? Is something that

770
00:33:45,680 --> 00:33:49,480
Speaker 2: someone else has ansked? Definitely speak to him because financialist

771
00:33:49,480 --> 00:33:52,360
Speaker 2: security is important in a relationship, and it's clearly important

772
00:33:52,400 --> 00:33:55,440
Speaker 2: to you. Someone said, there could be a lot more

773
00:33:55,480 --> 00:33:58,520
Speaker 2: going on behind the scenes. You need to ask. Someone

774
00:33:58,560 --> 00:34:01,000
Speaker 2: else said, Paul, your head in three grands a lot

775
00:34:01,000 --> 00:34:05,520
Speaker 2: of money. I'm like, yeah, that's absolutely correct. Someone else said,

776
00:34:05,600 --> 00:34:09,920
Speaker 2: my marriage has ended recently for this reason. Oh, but

777
00:34:09,960 --> 00:34:12,560
Speaker 2: it's true. Like communication is key if you're not on

778
00:34:12,600 --> 00:34:15,279
Speaker 2: the same page as your partner, Like finances are so

779
00:34:15,480 --> 00:34:18,440
Speaker 2: deeply intertwined. Like, if you're not on the same page

780
00:34:18,480 --> 00:34:21,160
Speaker 2: financially as your partner, you're just going to feel as

781
00:34:21,160 --> 00:34:24,080
Speaker 2: though you're going in completely different directions. If one of

782
00:34:24,080 --> 00:34:26,160
Speaker 2: you wants to do this big life goal thing and

783
00:34:26,200 --> 00:34:28,560
Speaker 2: the other doesn't, Like, at some point, that's going to

784
00:34:28,600 --> 00:34:30,880
Speaker 2: feel like a very big spanner in the works. Yeah, Like,

785
00:34:30,920 --> 00:34:32,480
Speaker 2: and it doesn't matter what it is. It might be

786
00:34:32,520 --> 00:34:34,200
Speaker 2: a holiday, it might be buying a house, it might

787
00:34:34,239 --> 00:34:37,000
Speaker 2: be buying a dog. But these things get in the

788
00:34:37,040 --> 00:34:41,880
Speaker 2: way of having a successful relationship. Someone else has said, look,

789
00:34:41,960 --> 00:34:44,960
Speaker 2: three grands still shows some ability to save. I think

790
00:34:44,960 --> 00:34:46,880
Speaker 2: it's way better than finding out he has debt that

791
00:34:46,920 --> 00:34:50,799
Speaker 2: he hasn't told you about. Sure, couldn't agree more. Someone said,

792
00:34:50,920 --> 00:34:53,040
Speaker 2: how much money would you have expected him to have?

793
00:34:53,080 --> 00:34:54,440
Speaker 2: What would have made you happy?

794
00:34:54,760 --> 00:34:55,720
Speaker 6: That's a good question.

795
00:34:56,120 --> 00:34:58,280
Speaker 2: It's a bit of a perfect question that I didn't

796
00:34:58,280 --> 00:35:01,759
Speaker 2: even ask. Girl was like, well, what were you expect right, Like,

797
00:35:01,840 --> 00:35:04,320
Speaker 2: what if you saw five grand? Would that be okay?

798
00:35:04,400 --> 00:35:06,880
Speaker 2: Were you expecting fifty thousand? We were expecting half a

799
00:35:06,880 --> 00:35:07,600
Speaker 2: million dollars?

800
00:35:07,640 --> 00:35:10,320
Speaker 5: Like yeah, I love that one about debt too, It's like,

801
00:35:10,360 --> 00:35:12,000
Speaker 5: what if he has ten grand, but he's got, like,

802
00:35:12,239 --> 00:35:15,280
Speaker 5: you know, thousands of dollars worth of debt, many thousands

803
00:35:15,280 --> 00:35:15,800
Speaker 5: of dollars?

804
00:35:16,000 --> 00:35:19,080
Speaker 3: Is that better because it's like totally, he's one.

805
00:35:19,000 --> 00:35:21,880
Speaker 2: Hundred percent, one hundred percent. Obviously there were hundreds of

806
00:35:21,920 --> 00:35:24,880
Speaker 2: other responses here, but this one I will leave you with.

807
00:35:25,160 --> 00:35:27,120
Speaker 2: It was, I think it's really important that you sit

808
00:35:27,200 --> 00:35:29,640
Speaker 2: down and talk about your money. Stories. He has a

809
00:35:29,680 --> 00:35:32,080
Speaker 2: life that he lived before you, and it might be

810
00:35:32,080 --> 00:35:36,439
Speaker 2: beautiful to share that lovely love that such as she's

811
00:35:37,800 --> 00:35:40,600
Speaker 2: I love our community so much because I'm always like, yes,

812
00:35:40,640 --> 00:35:41,839
Speaker 2: that's exactly what I would have.

813
00:35:41,760 --> 00:35:43,839
Speaker 6: Said, totally. We're all on our own journey and.

814
00:35:43,760 --> 00:35:44,719
Speaker 2: We're all on the same page.

815
00:35:44,719 --> 00:35:46,560
Speaker 3: It seems. Communication is key.

816
00:35:46,880 --> 00:35:51,040
Speaker 7: Communication is can communicationness and anyway.

817
00:35:50,760 --> 00:35:55,000
Speaker 2: Fluffy stuff, all of that fluffy stuff, all right, Unfortunately, guys,

818
00:35:55,040 --> 00:35:57,600
Speaker 2: I do think that is all we have time for today,

819
00:35:57,760 --> 00:35:59,920
Speaker 2: So we hope you have the best Friday. Anna Lisa,

820
00:36:00,560 --> 00:36:02,080
Speaker 2: thank you for joining us on the show, and have

821
00:36:02,160 --> 00:36:05,319
Speaker 2: the best time when touring the United States with your

822
00:36:05,440 --> 00:36:06,600
Speaker 2: actual real life.

823
00:36:06,360 --> 00:36:08,800
Speaker 3: The right back at you, Victoria Devine.

824
00:36:09,080 --> 00:36:12,120
Speaker 2: Imagine invited to the US to tour like it wasn't

825
00:36:12,160 --> 00:36:14,840
Speaker 2: even that you decided to do that. You were invited

826
00:36:14,880 --> 00:36:16,440
Speaker 2: to tour the United.

827
00:36:16,440 --> 00:36:20,920
Speaker 5: Is actually stopping about it, and you're invited to speak.

828
00:36:20,960 --> 00:36:24,399
Speaker 5: So I cannot wait to hear about the best from

829
00:36:24,400 --> 00:36:26,400
Speaker 5: fin Con. I'm hopefully we're going to get some of

830
00:36:26,400 --> 00:36:28,879
Speaker 5: it on the show. Yeah, of it on the show.

831
00:36:29,080 --> 00:36:30,719
Speaker 2: You'll definitely get some of it on the show. I'm

832
00:36:30,719 --> 00:36:33,239
Speaker 2: obviously excited about that because I cannot wait to talk

833
00:36:33,280 --> 00:36:37,440
Speaker 2: about financial literacy. But it's Friday. We have to go.

834
00:36:37,800 --> 00:36:39,560
Speaker 2: Do you have the best weekend and we'll see you

835
00:36:39,560 --> 00:36:41,640
Speaker 2: bright early for a money Daria on Monday.

836
00:36:41,880 --> 00:36:42,720
Speaker 3: Bye bye bye.

837
00:36:48,920 --> 00:36:51,480
Speaker 2: The advice shared on She's on the Money is generally

838
00:36:51,680 --> 00:36:55,480
Speaker 2: nature and does not consider your individual circumstances. She's on

839
00:36:55,520 --> 00:36:59,000
Speaker 2: the Money exists purely for educational purposes and should not

840
00:36:59,080 --> 00:37:02,040
Speaker 2: be relied upon to make an investment or financial decision.

841
00:37:02,440 --> 00:37:04,879
Speaker 2: If you do choose to buy a financial product, read

842
00:37:04,920 --> 00:37:09,080
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards

843
00:37:09,080 --> 00:37:12,359
Speaker 2: your needs. Victoria Divine and Sheese on the Money are

844
00:37:12,440 --> 00:37:16,040
Speaker 2: authorized representatives of Money sherper p t y lt D

845
00:37:16,239 --> 00:37:18,640
Speaker 2: A b N three two one IS six four nine

846
00:37:18,800 --> 00:37:22,759
Speaker 2: two seven seven zero eight AFSL four five one two

847
00:37:22,800 --> 00:37:25,440
Speaker 2: eight nine