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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, She's on the Money.

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Speaker 4: Hello, and welcome to She's on the Money, the podcast

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Speaker 4: for millennials who want financial freedom. Today is Friday, which

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Speaker 4: means it is time to get the team together and

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Speaker 4: celebrate you our incredible She's on the Money community. And

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Speaker 4: before we get there, we're just letting you know one,

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Speaker 4: welcome to twenty twenty three whew. But two, we're shaking

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Speaker 4: up the format of our Friday episodes to make them

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Speaker 4: more engaging and wait wait, more juicier. So today, not

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Speaker 4: only will we be sharing our favorite money wins, which

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Speaker 4: just does as always we were never going to cut

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Speaker 4: that part out. We'll be helping to answer a juicy

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Speaker 4: money question, which this week is all about superannuation, but

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Speaker 4: we are also going to unpack a spicy money dilemma

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Speaker 4: one of our community members has had recently about sharing

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Speaker 4: money and sharing an emergency fund with her partner.

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Speaker 2: So we'll get to all of that.

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Speaker 4: But before we get there, miss jessic RICI, welcome back.

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Speaker 4: I'm so excited that we're here doing more pods.

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Speaker 5: Oh my gosh, happy news here everybody.

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Speaker 4: My gosh, she knew. Who's that? Who's that? Who were

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Speaker 4: we you? Oh?

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Speaker 2: Sorry, I just I snuck in here.

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Speaker 6: My name is Beck, sired and I believe I am

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Speaker 6: joining your team this year.

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Speaker 5: I don't know.

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Speaker 4: She made it obvious before. She hasn't signed anything, and

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Speaker 4: I was like, oh, it's probably good for both of us, sir,

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Speaker 4: so not bad, not bad.

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Speaker 2: But this is a decider this episode right here.

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Speaker 4: Yeah. If Jess doesn't agree, we'll have to talk after

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Speaker 4: the show. So perform. Well, Beck, welcome to the show.

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Speaker 6: Thank you so much. It's really nice to be here

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Speaker 6: with you both.

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Speaker 4: Oh my gosh. Beck. Obviously the community knows Jess because

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Speaker 4: Jesse is our dy money queen. Also, they know me,

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Speaker 4: but they don't know you. Can you do like a

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Speaker 4: little introduction, like we're going around in circles and you're

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Speaker 4: put on the spot and have to be like, oh, hi,

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Speaker 4: my name's Beck, and these are my hobbies and these

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Speaker 4: are my interests and this is what I do for work,

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Speaker 4: Like ready, set go, okay, wow, pressures on.

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Speaker 6: This is the you know when you start like a

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Speaker 6: new job or something, and they ask you these Honest,

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Speaker 6: I'm not prepared and I but I was going to

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Speaker 6: say that I really really hate these kind of questions.

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Speaker 4: That's why we're asking you, not vice versa. That's why

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Speaker 4: volunteer Jess or I to answer first. I'm going to

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Speaker 4: do a surprise one on both of you. Are okay,

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Speaker 4: but no, just kidding, I won't.

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Speaker 2: But my name's Beck.

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Speaker 6: Of course, as you guys know, and hopefully everyone listening

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Speaker 6: now knows, I've worked.

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Speaker 2: With you guys, but behind the scenes about.

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Speaker 4: It about a year I could say, Yeah, we were

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Speaker 4: like Beck has big beck energy, we need be on

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Speaker 4: the pod.

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Speaker 2: B BB just kind of crept up on me. And

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Speaker 2: I'm really really stoked about it.

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Speaker 4: Oh, I'm so excited that you love these.

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Speaker 2: I'm so excited.

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Speaker 6: I've done a little bit basically, you know, to give

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Speaker 6: everyone context, I've not done anything in the radio world before,

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Speaker 6: but I've worked basically, I've worked in radio, just not

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Speaker 6: kind of behind the mic, and I've recorded demos with

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Speaker 6: you guys before and all this kind of stuff, So

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Speaker 6: I guess it kind of it makes sense on paper

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Speaker 6: that you get to go here, that.

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Speaker 2: I'm here now, Well, it's just because.

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Speaker 4: You're nice, Like you weren't picked because you worked in radio.

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Speaker 4: I mean when we met, because you worked in radio.

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Speaker 4: But then we're like, that's SOMEVB, that's BBA.

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Speaker 2: Come on the pod.

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Speaker 4: What about your money knowledge? Are you a financial advisor?

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Speaker 4: You mortgage broker? Did you go do maths at university?

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Speaker 5: Like?

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Speaker 4: Where are we at?

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Speaker 6: Oh no, I don't think you're gonna like this, But

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Speaker 6: I have no idea what I'm doing financially right now.

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Speaker 6: I have minus seventeen dollars in my bank account and

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Speaker 6: I have previously been bankrupt, so I guess I'm starting

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Speaker 6: from scratch.

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Speaker 4: I love this. When Jess joined that she's on the

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Speaker 4: money team, she was doing very well on her own,

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Speaker 4: so I'm not saying that the circumstances are the same,

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Speaker 4: but I feel like Jess joined him, Like Victoria, I

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Speaker 4: don't know about being on the podcast. I have no idea,

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Speaker 4: And now I basically am redundant on a lot of

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Speaker 4: the podcast because Jess could run it for me, because

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Speaker 4: she's basically smarter than me. Now done, I would because

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Speaker 4: sometimes just would be like, oh, hey, they just want

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Speaker 4: to run this past you because we're doing something for work,

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Speaker 4: and I'll be like, yeah, that's actually much better than

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Speaker 4: what I could have produced. So I'll just see myself

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Speaker 4: at Wow. I have high hopes. But also I'm so

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Speaker 4: so excited to have you on the team, not only

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Speaker 4: because I know the community is going to love you,

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Speaker 4: not only because you don't have a lot of financial

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Speaker 4: knowledge yet, but because I'm just putting myself in the

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Speaker 4: control seat here. I get to be on this journey

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Speaker 4: with you, or we all get to be on this

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Speaker 4: journey with you of educating you and getting your budget

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Speaker 4: up to scratch and like talking about investing and savings

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Speaker 4: and Beck we just recorded in an episode that's going

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Speaker 4: to drop next week about lipstick index and recession, and

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Speaker 4: I think the thing that I loved about your involvement

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Speaker 4: in that episode, was you just being like, what's a recession? Like,

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Speaker 4: I just I don't know where I'm at. And as

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Speaker 4: much as a lot of our shees on the money

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Speaker 4: community has been with us for three years and would go, oh,

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Speaker 4: I know what that is. Our community is always growing

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Speaker 4: and always evolving and there are going to be so

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Speaker 4: many people that are exactly in the same position as

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Speaker 4: you that maybe reset a goal for twenty twenty three

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Speaker 4: to absorb more money. Content would have been thinking that.

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Speaker 4: So I feel like your job, my friend big Boots,

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Speaker 4: to feel you're the voice of the community. Ah okay,

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Speaker 4: I hope that you do them justice. I hope so, sir,

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Speaker 4: But I know you will because I'm so excited to

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Speaker 4: have you on the team, and I know Jesse's as well. Yes,

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Speaker 4: but Jess g Ricci is your time to shine. We

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Speaker 4: were speaking about the community and Jess spends a lot

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Speaker 4: of time in the community and solving all their money

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Speaker 4: wins and confessions and chatting to them basically every single day. So, Jess,

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Speaker 4: I want a quick whip around, what are your favorite

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Speaker 4: money wins and confessions that you've dragged out of our

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Speaker 4: community from this week?

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Speaker 5: All right, first one comes from our friend Lindsey, and

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Speaker 5: I feel like this is a very timely reminder. At

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Speaker 5: the start of the yar, she says, I finally bit

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Speaker 5: the bullet and reviewed my insurance with the staff discounts

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Speaker 5: I get moving my insurance to where I work. I've

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Speaker 5: saved almost one hundred and sixty dollars a month across

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Speaker 5: our two cars and contents insurance. Is that time of

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Speaker 5: year everyone's renewing, They're coming around. They've probably jacked the

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Speaker 5: prices up. They always do, they always do. Yeah, I

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Speaker 5: was about to say, isn't that what happened to you?

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Speaker 5: And you called them and you just got a discount

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Speaker 5: immediately exactly. And if you need help, there's a script

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Speaker 5: on our website if you're a little don't like being

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Speaker 5: on the phone, can relate, read it word for word

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Speaker 5: and hopefully they'll knock it back down for you.

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Speaker 4: I was talking about this on TikTok the other day

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Speaker 4: because someone said as like a question on one of

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Speaker 4: my videos, like, oh, well, how do I deal with this?

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Speaker 4: And I think a lot of the time the responses are, oh,

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Speaker 4: just like have big dog energy and just tell them no,

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Speaker 4: Like if you've got to like negotiate something or change something.

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Speaker 4: I'm not like that, like, yeah, exactly. If I have

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Speaker 4: a big conversation to have, or a conversation that I

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Speaker 4: believe is going to be big for me, I actually

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Speaker 4: want a little bit of like a script to follow,

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Speaker 4: Like if I'm asking for a discount for my insurance

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Speaker 4: or something, I don't just want to go into it

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Speaker 4: completely blind and go, oh, well, I just called an

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Speaker 4: asked for a discount, Like I'm not that girl. I

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Speaker 4: need the script to be like, hey, I just want

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Speaker 4: to chat about this, like I do know it can

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Speaker 4: be really simple, but just having that in front of

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Speaker 4: you while you make the call can make you feel

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Speaker 4: so much more empowered, which is why we wrote it,

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Speaker 4: jess And it just puts you back in the control seat.

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Speaker 4: So don't feel bad if you don't have the big

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Speaker 4: dog energy that everybody else on TikTok seems to have

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Speaker 4: where they just negotiate off the bat like not everyone

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Speaker 4: is like that, no all, and definitely check to see

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Speaker 4: if your premiums went up. Kids next win comes from

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Speaker 4: Jessica great Name, who said I just applied for the

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Speaker 4: new South Wales Creative Kids and Active Kids vouchers. Now

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Speaker 4: I have another child enrolled in school. It's one hundred

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Speaker 4: dollars voucher that you each get, so four hundred dollars

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Speaker 4: in total for two kids that can go towards dance fees.

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Speaker 4: Dances expensive, So that's a massive win. What I didn't

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Speaker 4: even know that existed. Do you know if there's something

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Speaker 4: like in Victoria or in other states that is similar.

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Speaker 5: I don't know off the top of my head, but

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Speaker 5: I would say to people definitely check your local government

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Speaker 5: website because I know that there were things like this

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Speaker 5: when I was a kid. They're trying to encourage active

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Speaker 5: living and you know, kids getting out and doing fun things,

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Speaker 5: which can be super expensive. So have a look at

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Speaker 5: your local state website. And if you're in New South Wales,

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Speaker 5: I would be applying that is.

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Speaker 4: If you've got kids getting on that that sounds a

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Speaker 4: lot like free money to me, and I love.

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Speaker 2: Free love, free money.

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Speaker 5: All next win comes from Lazar, who said I made

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Speaker 5: a resolution to put twenty four hours between my non

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Speaker 5: essential purchases, put two outfits in my basket, waited until

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Speaker 5: the next day, and was rewarded with a twenty percent

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Speaker 5: off sale money.

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Speaker 4: When I feel like that often happens. The other thing

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Speaker 4: that I think happens sometimes is like retail is quite smart, right,

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Speaker 4: so they can see that you put those things in

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Speaker 4: your bas yes, right, and then they're like, oh my gosh,

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Speaker 4: like Beck didn't check out. I wonder what it was.

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Speaker 4: Maybe we need to send you a little carrot to

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Speaker 4: get her to check out. And then they send you

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Speaker 4: like ten or twenty percent off because they're like, oh,

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Speaker 4: did you forget your basket? His little carrot to get

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Speaker 4: you to go through with the sale works every time, exactly.

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Speaker 4: So definitely, leaving twenty four hours between you and making

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Speaker 4: an online purchase not bad. Double that up with your

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Speaker 4: shop back, and we're just basically now making money.

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Speaker 2: Yeah, exactly.

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Speaker 5: Next one I have for you comes from Rhiannon, who says,

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Speaker 5: I made my husband call out bank to see if

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Speaker 5: they could do better with our interest rate on our

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Speaker 5: mortgage and they got it down over one percent. Thank

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Speaker 5: you Kate from Zeala money for the tip.

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Speaker 4: Oh was that actually? Oh? I love that. That's Kate

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Speaker 4: from our team. And do you know what getting your

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Speaker 4: mortgage down one percent in this current economic environment, that's

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Speaker 4: big dog.

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Speaker 5: Energy, Big dog energy.

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Speaker 4: I feel like I need to stop s big dog energy,

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Speaker 4: but like, that's the energy I chose to take into

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Speaker 4: twenty twenty three.

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Speaker 2: I mean, else, who do you explain it?

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Speaker 4: B b E b B BECK energy, Like that's what

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Speaker 4: we want to embrace.

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Speaker 5: Well, my very last win for this week definitely embraces

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Speaker 5: the bd bb E energy. It comes from Peter And

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Speaker 5: she said, my first year debt free since domestic violence.

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Speaker 5: I have over two hundred dollars a week in my

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Speaker 5: pocket now, And I just wanted to say, Peter, I'm

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Speaker 5: so proud and so excited for you. That is freaking incredible, amazing,

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Speaker 5: What a good way to start the r p B

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Speaker 5: E for sure, Oh my gosh, I love that.

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Speaker 4: That is actually such a wholesome way to end the

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Speaker 4: community money wins. As always, I have loved hearing them,

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Speaker 4: and I think in addition to bb we're going to

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Speaker 4: add WWJD. And like I think a lot of people

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Speaker 4: are like, oh, what would Jesus do? No, no enough,

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Speaker 4: what would just would just do? And I feel like

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Speaker 4: that's a good way to live your life. In twenty

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Speaker 4: twenty three.

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Speaker 2: I ask myself that every single time I'm going.

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Speaker 4: To get a bracelets made like everybody is really on

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Speaker 4: top of this. All right, let's go to a quick

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Speaker 4: break and after the break, we're going to be answering

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Speaker 4: your juicy money question about stuperrenuation, and we're also going

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Speaker 4: to be talking about hiding your savings from your partner.

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Speaker 4: Don't go anywhere.

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Speaker 5: Welcome back to our shining New Friday with our shining

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Speaker 5: new team member. I hope you guys are enjoying bb

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Speaker 5: BB for sure.

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Speaker 2: I'm loving this.

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Speaker 1: On me.

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Speaker 4: I love this guys.

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Speaker 5: I think we have a really fun money dilemma to

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Speaker 5: answer today. Should we take a listen?

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Speaker 4: Yes?

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Speaker 2: Please go.

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Speaker 4: Hi there. Have you got a money dilemma you just

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Speaker 4: can't solve? The She's on the Money team is here

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Speaker 4: to help. Every week we tackle your dilemmas, both big

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Speaker 4: and small, to answer your most burning money, career and

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Speaker 4: life questions. To get involved, simply head to our website

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Speaker 4: and leave us a short voice recording and you might

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Speaker 4: just find yourself on the show. Now, let's take a

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Speaker 4: listen to this week's money dilemma.

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Speaker 7: Hey you v and happy near to the She's on

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Speaker 7: the Money fanbam.

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Speaker 5: I love you guys.

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Speaker 7: This is the most amazing community.

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Speaker 2: My name's loan.

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Speaker 7: I recently scored a great opportunity at my work, which

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Speaker 7: equals to more money and some commission. I'm super excited,

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Speaker 7: but it got me thinking. Up until now, all of

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Speaker 7: my super has been going into a retail worker like

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Speaker 7: specific super fun. But now I'm not working in retail anymore.

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Speaker 7: I'm making more money. I'm wondering if this is the

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Speaker 7: best option for me. So my money dilemma is where

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Speaker 7: do I go to find good super advice because I'm

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Speaker 7: super confused. Is this something a financial adviser would be

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Speaker 7: able to help me with? Or where do I go?

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Speaker 7: Thank you so much for helping me out.

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Speaker 5: They loved the little pun she slipped on a mess.

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Speaker 5: I love that.

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Speaker 4: She was like, I love you guys. I'm like, I

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Speaker 4: love you do Lauren? I really sweet? Also, how good

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Speaker 4: is it she got a new job and now she

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Speaker 4: gets commissions. I have so much to say about budgeting

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Speaker 4: and like living on your base salary and then using

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Speaker 4: your commissions to save and invest and create financial freedom.

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Speaker 4: But that wasn't actually what the question was about, yess So, Jess,

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Speaker 4: as I said before, Beck, basically a finance wizard. Where

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Speaker 4: would you start, jess Oh.

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Speaker 5: I feel like, she's definitely right in the looking at

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Speaker 5: the different super options out there is a way to start,

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Speaker 5: because I was the same I started in retail. I

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Speaker 5: remember when you reviewed my super V you were like, oh,

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Speaker 5: who are you with? And I was like blah blah blah,

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Speaker 5: and you were like and I was like what, And

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Speaker 5: You're like, they're not good?

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Speaker 4: But also they weren't good. It's not to say that

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Speaker 4: all fun but I think.

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Speaker 5: A lot of the time potentially they're just kind of

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Speaker 5: going one size fits all, right, And you have thousands,

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Speaker 5: arguably of employees working across the country for a retail company.

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Speaker 5: If you're picking one super fun for all of them,

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Speaker 5: very good chance that it's not going to work for everyone.

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Speaker 5: So I guess the place to type would be the Google.

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Speaker 5: The Google yaht Google seems like a good before I respect,

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Speaker 5: What would you do?

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Speaker 4: What do you do about your super funny?

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Speaker 2: You ask V?

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Speaker 6: Because I actually used to work in super You did

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Speaker 6: not disclose that in your interview.

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Speaker 4: I know when we said earlier on the podcast, like, oh,

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Speaker 4: what do you ring to the table? You financial adviser,

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Speaker 4: You're like, nah, I was broke, and we were like, oh, okay,

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Speaker 4: no worries. Thanks for sharing. Now, Now, Jess, she's like, oh, yeah,

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Speaker 4: actually I used to work in super anyway.

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Speaker 6: Financial advisor. No, I was scared I would be too

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Speaker 6: qualified for this position. Oh I didn't mention it, but no,

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Speaker 6: I used to work in super and I kind of realized,

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Speaker 6: I don't know if everyone else has this as well,

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Speaker 6: but i'd like seven different super accounts a really common

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Speaker 6: really and so like I really didn't know who to

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Speaker 6: go for. But yeah, I just googled it and it

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Speaker 6: was like, you know, you know, you get the I

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Speaker 6: don't know what's it can Star or something. Yeah, yeah,

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Speaker 6: I just like went to the number one. I didn't

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Speaker 6: even check anything. I just thought, that's the number one

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Speaker 6: super company. I'm going to go with that one.

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Speaker 5: And so that essays don't do that.

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Speaker 4: That is actually exactly what we're not going to do.

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Speaker 4: So we're not going to do that. And I'll give

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Speaker 4: you a reason why because I think in your situation,

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Speaker 4: and that makes so much sense, right because cancer that's reputable.

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Speaker 5: Right.

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Speaker 4: They give other companies like awards and stuff for being

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Speaker 4: the best super company, and I would think that that's

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Speaker 4: really good. The thing you want to be aware of

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Speaker 4: and I'm not saying that can Star is bad. Finder

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Speaker 4: is the same, though. The thing that I would want

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Speaker 4: you to know about that is they are actually basically

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Speaker 4: an advertising company. So obviously they do lots of other things,

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Speaker 4: but superannuation companies pay them to appear on the tops

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Speaker 4: of their charts or be in their articles or yeah exactly.

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Speaker 4: So from my perspective, yeah, there might be a fine

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Speaker 4: super company because legitimate super companies they do advertise to

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Speaker 4: get more clients like you, Beck. But what you probably

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Speaker 4: didn't realize is that that quote best super company came

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Speaker 4: up because they were very likely paying for that ad space,

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Speaker 4: and that's what got you. That doesn't necessarily mean that

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Speaker 4: you're in the best position. So I would also go

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Speaker 4: back to what Jess said and use the Google. But

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Speaker 4: what I would be using when it comes to the

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Speaker 4: Google is I would google ATO your super comparison And

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Speaker 4: the reason I would google that is because the ATO

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Speaker 4: last year, the start of twenty twenty two, released your

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Speaker 4: super Comparison tool, and that takes all of the work

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Speaker 4: out of it in terms of is this advertised, is

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Speaker 4: this a paid partnership? You know? All of that stuff

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Speaker 4: is really hard to see through. This is actually a

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Speaker 4: government run website that is going to just enable you

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Speaker 4: to compare apples with apples. When you compare on a

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Speaker 4: platform like Cansterer or Finder, you're not usually comparing apples

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Speaker 4: with apples. You're comparing the features and benefits that company

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Speaker 4: wants to showcase with the features and benefits of a

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Speaker 4: maybe less superior company. That you go, ah, well, you're right,

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Speaker 4: that one is much better, and you feel good about

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Speaker 4: your decision. But it's actually just advertising. So the ATO

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Speaker 4: website has it. It is free. And the thing I

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Speaker 4: would do before that, though, is because you mentioned, oh,

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Speaker 4: I'm in a retail super fund, that doesn't necessarily mean

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Speaker 4: that that retail super fund is bad like you might

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Speaker 4: be with like host plus or rest or something like that,

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Speaker 4: and they are legitimate super companies. The first thing I

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Speaker 4: would actually do is log into my mygove portal and

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Speaker 4: actually have a look at what super funds I have, because,

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Speaker 4: just like you, Beck, you might have seven accounts that

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Speaker 4: you didn't know about. Because if you jump around from

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Speaker 4: casual employment to casual employment, especially when you're a bit younger,

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Speaker 4: often you starting a super fund. Yeah, tick the box,

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Speaker 4: you know what I can't One time I ended up

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Speaker 4: with a new superfund because I literally couldn't be bothered

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Speaker 4: going and finding my old super fund.

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Speaker 5: The information yeah right, I could does matter.

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Speaker 4: It doesn't matter. I don't have any money like that

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Speaker 4: was the mentality that I had. And that's not okay,

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Speaker 4: we don't do that. That is not BB scrapping it.

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Speaker 4: That is not what Jess would do these days. So

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Speaker 4: we are going to compare it. If you have a

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Speaker 4: number of super funds, I would be having a look

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Speaker 4: at all of them, making sure that there aren't any

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Speaker 4: important insurances in them, because if you are leaving a

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Speaker 4: superannuation fund that has default insurances, that can actually be

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Speaker 4: a negative thing. And it's a negative thing because sometimes

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Speaker 4: our default insurances are actually really powerful. I'm going to

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Speaker 4: use Jess as an example here because Jess, you are

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Speaker 4: very active, way more active than I would ever be.

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Speaker 4: You play frisbee, right, So say you've got a default

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Speaker 4: insurance inside superannuation, but you did your ACL playing fuz

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Speaker 4: be really common.

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Speaker 5: Actually yeah that like I know like six different people

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Speaker 5: who have done it.

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Speaker 4: Oh ill, But say you did your ACL like one

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Speaker 4: of your friends, and you went to another insurer and

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Speaker 4: you were like, okay, cool, like, Hey, brand new super fund,

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Speaker 4: I need some insurance. I now need to apply because

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Speaker 4: default insurance isn't that common these days, but it was

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Speaker 4: ten years ago when you got that super fund. I

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Speaker 4: want to apply and they go, no worries, Jess, what

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Speaker 4: previous health conditions If you had and you're like, oh,

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Speaker 4: I'm really healthy. I just did an ACL one time,

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Speaker 4: They're like, okay, cool, no worries, Jess, We're just not

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Speaker 4: going to cover you for your ACL. So that means

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Speaker 4: that if ever you have to take time off work

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Speaker 4: or go through an incident, if it's ever related to

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Speaker 4: your ACL, they will not give you an insurance payout.

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Speaker 4: And that can actually be really negative. And that's why

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Speaker 4: default insurance could be really good, especially in the example

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Speaker 4: of Jess, where you might go, oh, I've done my ACL.

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Speaker 4: Maybe I'll have a look at the other insurances see

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Speaker 4: if I can change without any you know, negative impact.

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Speaker 4: But if I can't, maybe I keep that insurance to

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Speaker 4: make sure. You know, if I do the other ACL,

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Speaker 4: or I do something that's related to that part of

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Speaker 4: my body, I'm not upshit Creek without a battle. Does

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Speaker 4: that make sense? Yeah, So you need to take that

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Speaker 4: into consideration. And the next thing I do is I

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Speaker 4: actually step back and go what are my values? What

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Speaker 4: are my thoughts? What do I actually want to achieve?

438
00:19:13,560 --> 00:19:13,760
Speaker 3: Here?

439
00:19:14,119 --> 00:19:17,840
Speaker 4: Like superannuation these days is so customizable, Like you could

440
00:19:17,880 --> 00:19:21,359
Speaker 4: go and investing a superfund that only has crude oil.

441
00:19:22,000 --> 00:19:23,640
Speaker 4: Not that sexy if you're in cheese on the money

442
00:19:23,640 --> 00:19:26,199
Speaker 4: because you probably have similar aligned values to us. But

443
00:19:26,400 --> 00:19:29,320
Speaker 4: have a think about what type of asset classes? Do

444
00:19:29,359 --> 00:19:32,480
Speaker 4: you want an ethical fund that's completely possible, do you

445
00:19:32,600 --> 00:19:36,639
Speaker 4: want you know, really well diversified asset classes. Do you

446
00:19:36,680 --> 00:19:39,000
Speaker 4: want access to bonds? Do you actually want to have

447
00:19:39,080 --> 00:19:40,920
Speaker 4: more say or do you just want a really good

448
00:19:41,040 --> 00:19:43,240
Speaker 4: cookie cut of fund that's going to work for you

449
00:19:43,320 --> 00:19:46,440
Speaker 4: in this moment for your risk profile and your age

450
00:19:46,440 --> 00:19:48,440
Speaker 4: and what you earn. So you really need to think

451
00:19:48,480 --> 00:19:51,360
Speaker 4: about that. And then that's when I go to your

452
00:19:51,400 --> 00:19:55,240
Speaker 4: super comparison tool and start looking, well, where are your

453
00:19:55,240 --> 00:19:58,000
Speaker 4: funds that you're already in performing, because maybe it's a

454
00:19:58,040 --> 00:20:00,320
Speaker 4: good fund for you, but the thing you need to

455
00:20:00,400 --> 00:20:03,800
Speaker 4: change is your risk profile on that fund. So maybe

456
00:20:03,800 --> 00:20:06,480
Speaker 4: instead of being imbalanced, you've done your risk profile and

457
00:20:06,520 --> 00:20:09,080
Speaker 4: you're actually a high growth investor, so you might stay

458
00:20:09,080 --> 00:20:11,840
Speaker 4: with that fund, but just change your profile, in which

459
00:20:11,880 --> 00:20:14,560
Speaker 4: case that's a good outcome too, and you've reviewed your

460
00:20:14,600 --> 00:20:17,359
Speaker 4: super properly, or you might go, oh, that fund is

461
00:20:17,400 --> 00:20:19,840
Speaker 4: not good. In fact, I've been ignoring those letters that

462
00:20:19,840 --> 00:20:22,399
Speaker 4: they're fincening me saying they're closing because they're that bad

463
00:20:22,640 --> 00:20:24,400
Speaker 4: and you need to find a new one, in which

464
00:20:24,440 --> 00:20:27,280
Speaker 4: case we're not just finding a new super fund, we're

465
00:20:27,280 --> 00:20:29,640
Speaker 4: also looking at our risk profile and going if I'm

466
00:20:29,680 --> 00:20:32,760
Speaker 4: moving to, for example, Australian super which one of their

467
00:20:32,800 --> 00:20:35,119
Speaker 4: seven risk profiles am I going to fall into? You

468
00:20:35,240 --> 00:20:38,679
Speaker 4: need to actually spend the time looking at that because

469
00:20:38,680 --> 00:20:41,640
Speaker 4: they all perform differently. A balanced super fund is going

470
00:20:41,680 --> 00:20:44,600
Speaker 4: to have a very different performance to a conservative super

471
00:20:44,600 --> 00:20:46,720
Speaker 4: fund and a high growth super fund. So there's a

472
00:20:46,720 --> 00:20:49,439
Speaker 4: lot to take into consideration. Just because you were in

473
00:20:49,480 --> 00:20:52,000
Speaker 4: a retail fund doesn't mean you shouldn't stay there. But

474
00:20:52,160 --> 00:20:54,000
Speaker 4: what we're going to do is our research, and if

475
00:20:54,040 --> 00:20:56,000
Speaker 4: we're going to do our research, we're not going to

476
00:20:56,040 --> 00:20:58,440
Speaker 4: be swayed by advertising. Does that wrap it up, Jess?

477
00:20:58,480 --> 00:20:59,840
Speaker 5: I think so. I think I know what Beck's going

478
00:20:59,880 --> 00:21:00,359
Speaker 5: to do tonight.

479
00:21:01,119 --> 00:21:04,639
Speaker 4: Yeah, from her face, that's not what she's going to do.

480
00:21:04,680 --> 00:21:06,960
Speaker 2: Tonight, I'm going to have been seven super funds.

481
00:21:09,960 --> 00:21:13,080
Speaker 5: Yeah, I really want to get into the spicy stuff

482
00:21:13,119 --> 00:21:15,920
Speaker 5: because we said we're making the episode even more community

483
00:21:15,960 --> 00:21:18,480
Speaker 5: centric this year, which I am pumped for, and that

484
00:21:18,560 --> 00:21:21,119
Speaker 5: means we want to kind of bring some of the

485
00:21:21,160 --> 00:21:23,879
Speaker 5: conversations that we're having in our dms to life on

486
00:21:23,920 --> 00:21:25,960
Speaker 5: the pod for people to kind of weigh in because

487
00:21:25,960 --> 00:21:29,840
Speaker 5: they need more better, right, No, more.

488
00:21:29,720 --> 00:21:30,960
Speaker 4: Opinions is more better?

489
00:21:31,119 --> 00:21:31,359
Speaker 5: Yeah?

490
00:21:31,560 --> 00:21:33,920
Speaker 4: Vote just GRICI twenty twenty three.

491
00:21:34,040 --> 00:21:35,960
Speaker 5: Put that on a mug and drink out of it.

492
00:21:36,000 --> 00:21:39,040
Speaker 5: But this week we have a really interesting dilemma. Do

493
00:21:39,080 --> 00:21:41,360
Speaker 5: you want me to read it out so everyone we're

494
00:21:41,400 --> 00:21:41,920
Speaker 5: talking about.

495
00:21:42,040 --> 00:21:44,880
Speaker 4: Course, we obviously screenshot it and put it on our

496
00:21:44,920 --> 00:21:48,480
Speaker 4: stories obviously deidentified, so we could get your opinions as well.

497
00:21:48,520 --> 00:21:50,919
Speaker 4: But Beck, you haven't heard this yet, So jess what

498
00:21:50,960 --> 00:21:51,520
Speaker 4: have we got?

499
00:21:51,680 --> 00:21:54,719
Speaker 5: All right? Our community member says, HEYV I have a

500
00:21:54,760 --> 00:21:57,359
Speaker 5: little bit of a sticky situation. My partner and I

501
00:21:57,400 --> 00:22:00,679
Speaker 5: have a joint account and share majority of our finances. Lately,

502
00:22:00,680 --> 00:22:03,200
Speaker 5: I've started to feel a bit guilty because my boyfriend's

503
00:22:03,240 --> 00:22:05,640
Speaker 5: and something to me about not having any other savings

504
00:22:05,680 --> 00:22:08,080
Speaker 5: outside of our joint savings. Of course I have an

505
00:22:08,080 --> 00:22:10,920
Speaker 5: emergency fund, and while I haven't necessarily been hiding it,

506
00:22:11,160 --> 00:22:13,440
Speaker 5: I also haven't been forthcoming and mentioned it to him.

507
00:22:13,680 --> 00:22:16,560
Speaker 5: I have just under fifteen K in my personal emergency fund.

508
00:22:16,760 --> 00:22:18,399
Speaker 5: Do you think I should be sharing this with him?

509
00:22:18,480 --> 00:22:20,640
Speaker 5: Or should I be keeping it for a rainy day? Advice?

510
00:22:20,720 --> 00:22:21,399
Speaker 5: Appreciate it?

511
00:22:22,320 --> 00:22:24,280
Speaker 4: What do you reckon she means when she says sharing

512
00:22:24,359 --> 00:22:26,680
Speaker 4: it with him? Does she mean like sharing the money

513
00:22:26,760 --> 00:22:28,040
Speaker 4: or sharing the fact she has it?

514
00:22:28,320 --> 00:22:31,119
Speaker 5: I think reading that, I'm reading it as she hasn't

515
00:22:31,160 --> 00:22:34,199
Speaker 5: told him that she has that money stashed away, so

516
00:22:34,280 --> 00:22:37,159
Speaker 5: he doesn't know it exists. That's how I'm interpreting the

517
00:22:37,160 --> 00:22:37,919
Speaker 5: message anyway.

518
00:22:38,520 --> 00:22:42,520
Speaker 4: So it's a tricky, oh splicy, But also I think

519
00:22:42,560 --> 00:22:46,600
Speaker 4: that's great. Like I mean, if she's feeling like it's

520
00:22:46,600 --> 00:22:48,560
Speaker 4: a little bit deceptive, I think maybe just in PARSI

521
00:22:48,680 --> 00:22:50,920
Speaker 4: being like, oh, yeah, like I do have an emergency fund,

522
00:22:51,200 --> 00:22:53,520
Speaker 4: and then maybe suggesting that he gets one as well,

523
00:22:53,600 --> 00:22:56,960
Speaker 4: because it's really important to have individual financial freedom, regardless

524
00:22:56,960 --> 00:22:59,879
Speaker 4: of whether you have shared finances. Maybe that's how I

525
00:23:00,160 --> 00:23:03,879
Speaker 4: deal with it. If an emergency fund is so ingrained

526
00:23:03,880 --> 00:23:05,840
Speaker 4: in the way that you've been doing budget and cash flow.

527
00:23:05,920 --> 00:23:07,840
Speaker 4: Then you know, maybe it just didn't come up because

528
00:23:07,840 --> 00:23:09,880
Speaker 4: it actually wasn't a joint asset. It wasn't a part

529
00:23:09,920 --> 00:23:11,840
Speaker 4: of the joint decision making. Like you know, if you're

530
00:23:11,880 --> 00:23:13,840
Speaker 4: saving for a house, like you're not going to use

531
00:23:13,840 --> 00:23:16,400
Speaker 4: your emergency fund to go towards the house. So maybe

532
00:23:16,480 --> 00:23:19,440
Speaker 4: it's not a valid conversation to have, and that's why

533
00:23:19,440 --> 00:23:21,240
Speaker 4: it diing come up. I don't think she's being sneaky.

534
00:23:21,400 --> 00:23:24,200
Speaker 2: No, No, I don't know.

535
00:23:24,480 --> 00:23:27,280
Speaker 6: I think if she has any reservations, if she's a

536
00:23:27,320 --> 00:23:31,320
Speaker 6: little bit stressed, or she wants that there for whatever

537
00:23:31,400 --> 00:23:34,240
Speaker 6: reason she feels like just in case it goes bad

538
00:23:34,320 --> 00:23:36,359
Speaker 6: or whatever, and she kind of wants to keep it

539
00:23:36,400 --> 00:23:37,360
Speaker 6: a secret.

540
00:23:37,640 --> 00:23:40,040
Speaker 2: Keep it a secret. I don't think that's sneaky at all.

541
00:23:40,200 --> 00:23:41,160
Speaker 4: I don't think that's bad.

542
00:23:41,280 --> 00:23:42,160
Speaker 2: I don't think that's bad.

543
00:23:42,240 --> 00:23:44,800
Speaker 4: If you had fifteen grand in a savings account that

544
00:23:45,000 --> 00:23:47,040
Speaker 4: was like away for a rainy day, would you tell

545
00:23:47,160 --> 00:23:48,600
Speaker 4: a future partner about it?

546
00:23:48,640 --> 00:23:51,719
Speaker 6: If I had fifteen k saved and a long term partner,

547
00:23:51,880 --> 00:23:55,119
Speaker 6: I wouldn't feel obliged to tell them because I don't

548
00:23:55,160 --> 00:23:59,480
Speaker 6: think it's absolutely necessary essential to tell your partner because

549
00:23:59,480 --> 00:24:01,640
Speaker 6: it is it really is your money. We can keep

550
00:24:01,680 --> 00:24:04,480
Speaker 6: things separate, you know what I mean. I don't think

551
00:24:04,520 --> 00:24:07,400
Speaker 6: that she needs to say anything. I don't think it's sneaky.

552
00:24:07,800 --> 00:24:10,360
Speaker 6: I think it's actually very clever and it's very safe,

553
00:24:11,040 --> 00:24:13,520
Speaker 6: and I'll probably keep it that way to be honest,

554
00:24:13,680 --> 00:24:15,040
Speaker 6: just in case you just don't know.

555
00:24:15,400 --> 00:24:18,320
Speaker 4: Yeah, you never know what's going to happen. Jess, what

556
00:24:18,320 --> 00:24:18,800
Speaker 4: would you do?

557
00:24:19,480 --> 00:24:22,880
Speaker 5: I think, like, I'm very pro sharing that you have it.

558
00:24:23,040 --> 00:24:26,400
Speaker 5: I'm also very pro keeping it entirely individual. As you said,

559
00:24:26,480 --> 00:24:29,080
Speaker 5: I think everybody should have access to money that only

560
00:24:29,119 --> 00:24:31,320
Speaker 5: they can touch, and I think she should keep it

561
00:24:31,320 --> 00:24:33,240
Speaker 5: that way. I guess to kind of play Devil's advocate.

562
00:24:33,240 --> 00:24:36,040
Speaker 5: If you're in a partnership and you are planning your finances,

563
00:24:36,040 --> 00:24:37,960
Speaker 5: and she said that she's sharing a lot of finances

564
00:24:37,960 --> 00:24:40,800
Speaker 5: with her partner, I guess when you're doing, say your

565
00:24:40,840 --> 00:24:42,879
Speaker 5: budget for the art, if you're saving for a house.

566
00:24:42,920 --> 00:24:46,400
Speaker 5: If we're using that example, you would kind of be going, okay, well,

567
00:24:46,400 --> 00:24:49,280
Speaker 5: where are you contributing your money? In my mind, to

568
00:24:49,280 --> 00:24:50,800
Speaker 5: be able to set that up properly, you kind of

569
00:24:50,840 --> 00:24:53,240
Speaker 5: have to go okay, well, I ESSM trying to put

570
00:24:53,280 --> 00:24:57,080
Speaker 5: fifteen thousand in an emergency fund. My partner, you've already

571
00:24:57,119 --> 00:24:59,400
Speaker 5: got fifteen thousand, so you don't need to be allocating

572
00:24:59,440 --> 00:25:02,160
Speaker 5: any more money there. You potentially can be contributing more

573
00:25:02,600 --> 00:25:05,320
Speaker 5: to the house fund. Yes, I feel like knowing what's

574
00:25:05,359 --> 00:25:08,760
Speaker 5: going on with each other enables you to get a

575
00:25:08,760 --> 00:25:11,800
Speaker 5: better picture of how you can best reach your shared goals,

576
00:25:11,800 --> 00:25:14,360
Speaker 5: because they do have those. As I said, I don't

577
00:25:14,359 --> 00:25:16,080
Speaker 5: think he should have access to it by any structure

578
00:25:16,080 --> 00:25:18,840
Speaker 5: of the imagination. But I also think that if this

579
00:25:18,960 --> 00:25:22,520
Speaker 5: is your long term partner, I would be questioning, why

580
00:25:22,600 --> 00:25:24,479
Speaker 5: don't you want to share that with him? Is it

581
00:25:24,520 --> 00:25:27,560
Speaker 5: because you don't trust him or her? Is it because

582
00:25:27,680 --> 00:25:30,920
Speaker 5: you're feeling anxious because of something that you've seen that's

583
00:25:30,920 --> 00:25:32,520
Speaker 5: a part of your money story. Is that something you

584
00:25:32,560 --> 00:25:36,520
Speaker 5: need to work through? Because I don't think fundamentally there

585
00:25:36,560 --> 00:25:39,199
Speaker 5: is anything wrong with telling them that that's there. Are

586
00:25:39,240 --> 00:25:41,959
Speaker 5: you worried that they're going to feel entitled to that money?

587
00:25:42,480 --> 00:25:44,760
Speaker 5: If so, is that a bit of a red flag?

588
00:25:44,840 --> 00:25:45,840
Speaker 5: I do we need to be.

589
00:25:48,119 --> 00:25:48,199
Speaker 1: So?

590
00:25:48,240 --> 00:25:49,960
Speaker 5: I think it's a bit bigger than should you should

591
00:25:49,960 --> 00:25:52,320
Speaker 5: you not tell them? It's why do you feel like

592
00:25:52,359 --> 00:25:53,919
Speaker 5: you should or shouldn't tell them?

593
00:25:54,040 --> 00:25:55,080
Speaker 2: Yeah, it's a good point.

594
00:25:55,160 --> 00:25:57,720
Speaker 4: We put it out to our community earlier this week

595
00:25:57,840 --> 00:25:59,720
Speaker 4: to say, well, what would you guys say, and we

596
00:25:59,760 --> 00:26:02,480
Speaker 4: did actually have a few people say red flag. I

597
00:26:02,520 --> 00:26:05,440
Speaker 4: think that that's definitely a red flag. But I also

598
00:26:05,560 --> 00:26:08,240
Speaker 4: wasn't sure if it's a red flag that you're hiding

599
00:26:08,280 --> 00:26:10,760
Speaker 4: it or it's a red flag, do you know what

600
00:26:10,800 --> 00:26:13,320
Speaker 4: I mean? I think, in my circumstance, you should probably

601
00:26:13,359 --> 00:26:15,640
Speaker 4: be encouraging your partner to actually get one. And Jess,

602
00:26:15,640 --> 00:26:17,760
Speaker 4: your example before was really good where you're like, oh, well,

603
00:26:17,760 --> 00:26:20,280
Speaker 4: if they already have their emergency fund, maybe they contribute

604
00:26:20,280 --> 00:26:22,560
Speaker 4: in a different way. But should they have dipped into

605
00:26:22,560 --> 00:26:25,840
Speaker 4: their emergency fund for something, then maybe the budget changes

606
00:26:25,880 --> 00:26:27,600
Speaker 4: a bit for them to top that back up until

607
00:26:27,600 --> 00:26:30,480
Speaker 4: we're back on track. But I do think your partner,

608
00:26:30,480 --> 00:26:33,160
Speaker 4: actually the conversation's probably more around like, oh, hey, well

609
00:26:33,160 --> 00:26:35,320
Speaker 4: I have an emergency fund, and I actually assumed you

610
00:26:35,359 --> 00:26:38,760
Speaker 4: had one, and you probably should be working towards it. Jess,

611
00:26:38,760 --> 00:26:40,959
Speaker 4: what was some call outs that you saw the community have.

612
00:26:41,359 --> 00:26:44,760
Speaker 5: I liked what one person said, which was, my emergency

613
00:26:44,800 --> 00:26:47,360
Speaker 5: fund isn't hidden, but my partner knows that he has

614
00:26:47,359 --> 00:26:49,280
Speaker 5: no claim to it, and that that money is solely

615
00:26:49,320 --> 00:26:52,120
Speaker 5: for my discretion, which I think shows that they've said

616
00:26:52,320 --> 00:26:55,680
Speaker 5: really clear boundaries. You know, they've gone, yes I have it,

617
00:26:55,840 --> 00:26:58,960
Speaker 5: Yes you can know about it, but that's not for you.

618
00:26:59,240 --> 00:27:01,160
Speaker 5: That's mine. And so you need to have your own

619
00:27:01,160 --> 00:27:03,240
Speaker 5: emergency fund for your own emergencies.

620
00:27:03,520 --> 00:27:06,400
Speaker 4: Yeah, I agree. Someone else said I don't think it's

621
00:27:06,440 --> 00:27:09,520
Speaker 4: healthy in a healthy relationship to have separate money, and

622
00:27:09,800 --> 00:27:11,560
Speaker 4: I think that that's a hot take.

623
00:27:11,720 --> 00:27:14,000
Speaker 2: Yeah, that is strong hot take.

624
00:27:14,520 --> 00:27:17,320
Speaker 4: And as somebody who I think I'm in a healthy relationship,

625
00:27:17,480 --> 00:27:19,480
Speaker 4: just I think you're in a healthy relationship. Both of

626
00:27:19,560 --> 00:27:22,320
Speaker 4: us have our own emergency funds that our partners can't touch,

627
00:27:22,760 --> 00:27:26,520
Speaker 4: and I feel like that actually keeps it healthy. And yes,

628
00:27:26,720 --> 00:27:29,600
Speaker 4: you know, looking at this circumstance, you know you might

629
00:27:29,640 --> 00:27:31,800
Speaker 4: be a little bit apprehensive to tell your partner, but

630
00:27:31,960 --> 00:27:35,240
Speaker 4: like should he not be supportive of you being financially free,

631
00:27:35,640 --> 00:27:38,680
Speaker 4: Like should you not be like supporting each other in that,

632
00:27:38,720 --> 00:27:41,160
Speaker 4: Like shouldn't you be wanting your partner to also have that.

633
00:27:41,680 --> 00:27:44,560
Speaker 4: Steve knows about my emergency fund. He knows it exists

634
00:27:44,600 --> 00:27:46,720
Speaker 4: because we've talked about it before. But you know what,

635
00:27:46,960 --> 00:27:48,520
Speaker 4: now thinking about it, I don't think he knows how

636
00:27:48,600 --> 00:27:50,680
Speaker 4: much is in it. Yeah, he just knows I've got

637
00:27:50,680 --> 00:27:53,240
Speaker 4: it because I've always had it, well not always, but

638
00:27:53,320 --> 00:27:56,000
Speaker 4: I've always had it in the relationship that we've been in.

639
00:27:56,040 --> 00:27:58,080
Speaker 4: So he's kind of like, Yep, she has that, And

640
00:27:58,359 --> 00:27:59,719
Speaker 4: do you know what. I couldn't tell you what's in

641
00:27:59,760 --> 00:28:02,280
Speaker 4: his but I know he's got a fund that I

642
00:28:02,320 --> 00:28:02,920
Speaker 4: can't touch.

643
00:28:03,000 --> 00:28:04,800
Speaker 5: And does that give you a bit of comfort knowing that?

644
00:28:04,880 --> 00:28:05,800
Speaker 4: I think it's important.

645
00:28:05,840 --> 00:28:07,840
Speaker 5: Yeah, I feel it is.

646
00:28:07,880 --> 00:28:09,600
Speaker 6: You need to know that if anything happens in the

647
00:28:09,640 --> 00:28:12,560
Speaker 6: relationship that both of you, yeah, are going to be okay.

648
00:28:12,760 --> 00:28:15,199
Speaker 2: Yeah, absolutely, not just you, not just them.

649
00:28:16,840 --> 00:28:19,399
Speaker 5: Interestingly, someone else said not everything needs to be shared

650
00:28:19,440 --> 00:28:21,560
Speaker 5: when it comes to money, and I was like, oh,

651
00:28:21,640 --> 00:28:22,560
Speaker 5: that's another hot take.

652
00:28:22,720 --> 00:28:25,240
Speaker 4: That's a good point. And I mean, you know, I

653
00:28:25,280 --> 00:28:27,600
Speaker 4: always use my relationship as an example because I don't

654
00:28:27,600 --> 00:28:29,119
Speaker 4: want to say that there's a right and wrong thing.

655
00:28:29,160 --> 00:28:32,080
Speaker 4: It's just how Steve and I've fallen out to do it.

656
00:28:32,520 --> 00:28:35,680
Speaker 4: We do share our finances, I say, we share everything,

657
00:28:36,119 --> 00:28:39,920
Speaker 4: but also it's really controlled, so like we don't just

658
00:28:40,000 --> 00:28:43,040
Speaker 4: have our pay automatically put into the one account. So

659
00:28:43,080 --> 00:28:45,800
Speaker 4: you know, if she'd hit the fan, we wouldn't be okay.

660
00:28:45,920 --> 00:28:48,520
Speaker 4: Like every single month he goes in and transfers his

661
00:28:48,680 --> 00:28:52,520
Speaker 4: pay to the shared account, So if something happened, he

662
00:28:52,520 --> 00:28:54,520
Speaker 4: could just stop doing that and it wouldn't go into

663
00:28:54,520 --> 00:28:57,240
Speaker 4: our shared Does that make sense? Like yeah, and vice versa.

664
00:28:57,280 --> 00:28:59,520
Speaker 4: Like I obviously am my own business owner, and I

665
00:28:59,520 --> 00:29:02,680
Speaker 4: don't have a PAYG salary, but like I pay myself

666
00:29:02,960 --> 00:29:05,840
Speaker 4: and I transfer the money into the account on a

667
00:29:05,840 --> 00:29:09,280
Speaker 4: monthly basis, so that we have joint funds. I think

668
00:29:09,280 --> 00:29:11,280
Speaker 4: at any point both of us have our own control

669
00:29:11,360 --> 00:29:14,240
Speaker 4: over our incomes and where that might be going. So

670
00:29:14,280 --> 00:29:18,080
Speaker 4: if something happened, that would be okay. Just in your relationship,

671
00:29:18,160 --> 00:29:20,480
Speaker 4: you have shared money, but you definitely do it differently

672
00:29:20,520 --> 00:29:20,720
Speaker 4: to me.

673
00:29:21,280 --> 00:29:24,000
Speaker 5: Yeah, we don't actually have a joint account. It's something

674
00:29:24,000 --> 00:29:25,400
Speaker 5: that I have been saying for eightes. Oh, we need

675
00:29:25,400 --> 00:29:27,120
Speaker 5: to set one up just for like groceries and stuff.

676
00:29:27,160 --> 00:29:29,400
Speaker 5: We just haven't gotten around to it. Like we split

677
00:29:29,440 --> 00:29:32,680
Speaker 5: most of our shared expenses fifty to fifty and annoyingly

678
00:29:32,760 --> 00:29:34,200
Speaker 5: right now, like I'll just be like, you owe me

679
00:29:34,320 --> 00:29:37,880
Speaker 5: two hundred dollars for transferred us So definitely not the best.

680
00:29:37,920 --> 00:29:40,400
Speaker 5: It would just be easier to have an account exactly right.

681
00:29:40,440 --> 00:29:42,360
Speaker 5: But yeah, I think that like for us, that's what works,

682
00:29:42,360 --> 00:29:43,640
Speaker 5: and it is such a personal thing, like if you

683
00:29:43,680 --> 00:29:45,600
Speaker 5: want to keep it totally separate, keep it totally separate,

684
00:29:45,640 --> 00:29:48,200
Speaker 5: but it Yeah, I think it's a bigger question about

685
00:29:48,920 --> 00:29:51,920
Speaker 5: where do you see the relationship going. How comfortable are

686
00:29:51,960 --> 00:29:54,560
Speaker 5: you talking? And if you're not company talking, maybe that's

687
00:29:54,560 --> 00:29:56,920
Speaker 5: a conversation to be had. So this one says you

688
00:29:56,960 --> 00:29:59,240
Speaker 5: don't have to tell him how much is there? Maybe

689
00:29:59,320 --> 00:30:02,600
Speaker 5: just tell him you how of emergency cash money? I

690
00:30:02,600 --> 00:30:04,400
Speaker 5: feel like that's a happy medium, right, That is a

691
00:30:04,400 --> 00:30:05,000
Speaker 5: happy medium.

692
00:30:05,040 --> 00:30:05,760
Speaker 4: I really like that.

693
00:30:06,200 --> 00:30:07,200
Speaker 5: Yeah, no, I like.

694
00:30:07,200 --> 00:30:09,880
Speaker 4: That, But I also think it plays into like how

695
00:30:10,000 --> 00:30:12,520
Speaker 4: your partner responds, Like not everything should be a test,

696
00:30:12,800 --> 00:30:14,760
Speaker 4: but I do think it would be interesting to see

697
00:30:14,760 --> 00:30:17,280
Speaker 4: how your partner responds to finding out that you have

698
00:30:17,360 --> 00:30:19,360
Speaker 4: an emergency fund and going, oh, yeah, like I've got

699
00:30:19,360 --> 00:30:21,640
Speaker 4: some cash stashed away for a rainy day if anything

700
00:30:21,720 --> 00:30:23,400
Speaker 4: should happen. I think you need to have it. I

701
00:30:23,440 --> 00:30:25,840
Speaker 4: think it would be supportive if they turn around and said,

702
00:30:25,840 --> 00:30:28,200
Speaker 4: oh great, no worries, like that's fine, but like a

703
00:30:28,240 --> 00:30:30,360
Speaker 4: massive red flag if they're like, how much, why isn't

704
00:30:30,360 --> 00:30:32,640
Speaker 4: it in our savings? What's going on, How does that work?

705
00:30:32,760 --> 00:30:33,520
Speaker 2: Why do you need it?

706
00:30:33,560 --> 00:30:35,000
Speaker 4: Why do you need that? Why do you think that,

707
00:30:35,200 --> 00:30:36,560
Speaker 4: you know, why do you think you need a rainy

708
00:30:36,600 --> 00:30:38,080
Speaker 4: day fund? Like, I think that could be a really

709
00:30:38,080 --> 00:30:38,840
Speaker 4: big friend flag.

710
00:30:39,160 --> 00:30:39,960
Speaker 2: That's a good way.

711
00:30:40,000 --> 00:30:41,680
Speaker 4: Not a test. It's not a test.

712
00:30:42,000 --> 00:30:46,120
Speaker 6: That's a good way to gauge, it's a gage.

713
00:30:46,360 --> 00:30:49,120
Speaker 4: I imagine if that happened in your relationship, where you

714
00:30:49,200 --> 00:30:51,240
Speaker 4: partner found out you had an emergency fund and they're like,

715
00:30:51,600 --> 00:30:54,600
Speaker 4: why why do you need that? You're like, this is why,

716
00:30:54,920 --> 00:31:00,200
Speaker 4: exactly why? Oh my gosh. I feel like these answers

717
00:31:00,360 --> 00:31:03,160
Speaker 4: having pretty spicy, a lot of people saying, you know,

718
00:31:03,200 --> 00:31:05,120
Speaker 4: there's nothing wrong with having it, let's just be open

719
00:31:05,160 --> 00:31:06,800
Speaker 4: and honest, all the way through to people being like

720
00:31:06,880 --> 00:31:09,600
Speaker 4: red flag, red flag, and then people saying, no, keep

721
00:31:09,640 --> 00:31:11,960
Speaker 4: it hidden, don't tell your partner. I don't know. I

722
00:31:11,960 --> 00:31:14,520
Speaker 4: think it's just whatever you feel comfortable with. But I

723
00:31:14,560 --> 00:31:17,719
Speaker 4: think the general consensus at this table while recording is

724
00:31:18,040 --> 00:31:20,560
Speaker 4: it is important to have access to your own funds,

725
00:31:20,600 --> 00:31:22,760
Speaker 4: regardless of whether you save money or not. Could we

726
00:31:22,800 --> 00:31:25,720
Speaker 4: say that that's the summary of this conversation Jess and Beck, Yes,

727
00:31:25,800 --> 00:31:26,280
Speaker 4: I believe.

728
00:31:26,320 --> 00:31:28,800
Speaker 5: So that was so fun. I really enjoyed hearing everybody's

729
00:31:28,840 --> 00:31:31,160
Speaker 5: hot takes. Keep an eye out on our Instagram if

730
00:31:31,200 --> 00:31:32,960
Speaker 5: you don't follow us, We're at Cheese on the Money

731
00:31:32,960 --> 00:31:35,720
Speaker 5: a US because we're going to be doing more of these.

732
00:31:35,760 --> 00:31:37,920
Speaker 5: I feel like it's really fun to bring these daties

733
00:31:37,920 --> 00:31:39,120
Speaker 5: to lie, but.

734
00:31:39,080 --> 00:31:41,440
Speaker 4: I also want to know the community's opinion on what's

735
00:31:41,480 --> 00:31:43,120
Speaker 4: going on and how it works. I mean, it's a

736
00:31:43,200 --> 00:31:45,720
Speaker 4: judgment free zone. Everybody is going to manage money in

737
00:31:45,760 --> 00:31:48,120
Speaker 4: a different way. But it's so interesting to go like, oh, Jess,

738
00:31:48,280 --> 00:31:50,320
Speaker 4: like you don't even have your bank account set up yet,

739
00:31:50,360 --> 00:31:53,040
Speaker 4: and I'm just assuming it's because you've been lazy. Yeah, yeah, correct,

740
00:31:54,160 --> 00:31:56,160
Speaker 4: all the way through to like, oh, we actually share

741
00:31:56,200 --> 00:31:58,680
Speaker 4: absolutely everything because we've had this question before on the

742
00:31:58,680 --> 00:32:01,320
Speaker 4: pod where people are like, oh, like having listened to

743
00:32:01,360 --> 00:32:04,600
Speaker 4: the pod and only just starting my financial literacy journey

744
00:32:04,760 --> 00:32:06,640
Speaker 4: and I've been married for twenty years, Like how do

745
00:32:06,680 --> 00:32:09,080
Speaker 4: I tell my partner I want an emergency fund because

746
00:32:09,200 --> 00:32:11,440
Speaker 4: they could take it the wrong way. I think seeing

747
00:32:11,480 --> 00:32:14,080
Speaker 4: from the community what your thoughts and feelings are is

748
00:32:14,120 --> 00:32:16,280
Speaker 4: going to help validate a lot. But also, who doesn't

749
00:32:16,280 --> 00:32:19,400
Speaker 4: love a perview question about somebody else's relationship.

750
00:32:19,520 --> 00:32:20,239
Speaker 2: God, I love it.

751
00:32:20,320 --> 00:32:21,880
Speaker 4: I love it so good.

752
00:32:22,280 --> 00:32:24,240
Speaker 5: Great first episode, Beck, thank.

753
00:32:24,120 --> 00:32:25,000
Speaker 4: You, that was so much fun.

754
00:32:25,200 --> 00:32:26,360
Speaker 2: Yeah that we love it.

755
00:32:26,560 --> 00:32:28,760
Speaker 5: But I reckon, it's about time we get out all

756
00:32:28,760 --> 00:32:29,400
Speaker 5: out of here ladies.

757
00:32:30,560 --> 00:32:32,160
Speaker 4: Is it time for a little bit of rage?

758
00:32:32,480 --> 00:32:33,880
Speaker 2: Oh god, it's about time.

759
00:32:33,960 --> 00:32:35,920
Speaker 5: T G I F M A right, you know what?

760
00:32:36,040 --> 00:32:38,440
Speaker 4: No, no, no, no, no, no no no. Beck told

761
00:32:38,480 --> 00:32:40,800
Speaker 4: me earlier today that sometimes she goes to the pub

762
00:32:40,840 --> 00:32:43,280
Speaker 4: and just order soda water, So like, is that lame?

763
00:32:43,640 --> 00:32:43,960
Speaker 3: Yeah?

764
00:32:44,360 --> 00:32:46,560
Speaker 4: Like, I mean it's very budget friendly. But like Jess

765
00:32:46,560 --> 00:32:48,240
Speaker 4: and I were having an approll, if you would like

766
00:32:48,280 --> 00:32:53,640
Speaker 4: to join us for that, you are more than welcome. Okay,

767
00:32:53,720 --> 00:32:55,280
Speaker 4: ten out of ten give me ten.

768
00:32:55,400 --> 00:32:57,200
Speaker 5: See you next week, guys. Have you good weekend.

769
00:33:03,200 --> 00:33:05,720
Speaker 4: The advice shared on She's on the Money is general

770
00:33:05,800 --> 00:33:09,640
Speaker 4: in nature and does not consider your individual circumstances. She's

771
00:33:09,680 --> 00:33:13,080
Speaker 4: on the Money exists purely for educational purposes and should

772
00:33:13,160 --> 00:33:16,360
Speaker 4: not be relied upon to make an investment or financial decision.

773
00:33:16,720 --> 00:33:19,160
Speaker 4: If you do choose to buy a financial product, read

774
00:33:19,200 --> 00:33:23,360
Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards

775
00:33:23,360 --> 00:33:26,640
Speaker 4: your needs. Victoria Divine and She's on the Money are

776
00:33:26,720 --> 00:33:31,720
Speaker 4: authorized representatives of money. Sheper pty Ltd ABN three two

777
00:33:31,760 --> 00:33:34,760
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778
00:33:35,040 --> 00:33:40,000
Speaker 4: AFSL four five one two eight nine