You’re ready to start investing… and then someone suggests borrowing money to make your portfolio grow faster. It sounds genius in theory, but is it actually a smart move? This week we’re unpacking the financial advice one community member received about doing just that, and Victoria breaks down how these loans really work, why the maths can be seductive, and the little thing called a “margin call” that can throw your whole plan into chaos.
Then we switch gears into Christmas gifting season, which is currently giving drama. Someone asked for a $300 birthday present. Gift cards are in their controversial era. And half of you are quietly switching to Secret Santa because December is expensive enough already. If you’re feeling gifting guilt creeping in, this chat will help you set boundaries without losing your festive cheer.
LISTEN: To the Money Diaries episode where she is Debt Recycling here or search She Left Her Husband With $12K and Two Suitcases... Now She’s Worth Six Figures.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My name is Tatasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country t Glenn Young
Ganya Niana, Kaka yah Ya bin Ahaka nian Ar gay
In Mbina yakarum jar dominyamiga Umagahawakaman damon imlan Wumba bang
Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Aberiginal people's land that
we're gathering on today. Take pleasure in all the land
and respect all that you see. She's on the Money
podcast acknowledges culture, country, community and connections, bringing you the tools,
knowledge and resources for you to thrive.
Speaker 2 (00:45):
She's on the Money.
Speaker 3 (00:47):
She's on the Money.
Speaker 4 (01:07):
Hello and welcome to She's on the Money, the podcast
that makes personal finance fun, especially on Fridays. My friends,
it is our favorite day of the week because we
get our team together and we get to celebrate you
the incredible. She's on the Money community ms Grit. She's
here and she's going to be sharing her favorite money
wins and maybe a little breaking news. Miss beck sayed
(01:28):
will be sharing her broke tips, and we're going to
be helping to answer a money dilemma which asked v
is it a good idea to take out a loan
to then invest into the share market? And something that
you slid into our dms about working out how much
to spend on buying gifts for adults with a tiny
little spicy side question on whether gift cards are just
impersonal gestures, which as a fan of gift cards, I
(01:50):
feel like I have some thoughts and feelings. But before
we get to our question of the week and I
get to grill you both on your personal opinions, do
we want to hype our selves up with a little
five star review? Yes? Please wait now, Beck, I always
pick ones that are about you because I literally love
like how excited you get, So I'm not putting that aside.
(02:11):
But this one, this week's for Jess. Yes, so fair,
So it's totally just for Jess. Go Jess five stars.
I will be so so happy. If the news you
are planning on sharing is that Jess has purchased her
first home, please tell us what the good news is.
Ps I love you girls. So that's a very nice
(02:32):
segue into miss Jessica Ricci. That's a very nice review, thank.
Speaker 5 (02:36):
You, thank you.
Speaker 3 (02:37):
But what's your news, guys, I'm filming it exciting, so cool.
Speaker 4 (02:47):
So so she's the official owner of a patch of
dirt with no property on it right now and a
photo in front of it.
Speaker 3 (02:54):
Did you touch the dirt?
Speaker 4 (02:56):
So cute? I did. I wrote my name in it.
It was a very spiritual. Yeah, tell me a little
bit more. I think this is the first time beck
is hearing about this, and I have been in the
background being like, have you spoken to them about landmarkers?
What about your conveyancer? So this has been really fun
because you're also working with the team at Zella Money,
which we are all just so excited for you. I
(03:17):
think this journey has been so long. Is it what
you wanted as the peakiest girl in the entire world?
Speaker 3 (03:23):
How did you decide?
Speaker 4 (03:24):
You know this is the one?
Speaker 2 (03:26):
You know what? It really was just almost fateful. So
there's you know, there's such a small pocket that I
was looking at buying in and you mean like less
than a kilometer square, guy, very small, and so it's
you know, so you have to take what you can get.
And the block is a little bit smaller than I wanted,
but it's still fits a house that's a really great design.
It's the orientation that I wanted. I'm just so over
(03:50):
the moon.
Speaker 4 (03:50):
I'm so exciting. I'm so excited. And it's just like
validation as well, because there's been so many times you're like,
they really like this house, but they're asking X amount
and that's not in the budget, and I keep being like, babe,
it's coming for you, I promise, and like watching you
be so upset about you know, quote missing out, yeah,
and then knowing you're not going to miss out now,
(04:11):
Like we're starting from scratch, so it's like not compromising
on you know. Oh yeah, no, I loved it, but
the kitchen was like definitely the wrong colors. I'd have
to update the bathrooms all like, oh, like why have
they got carpet in the toilet? Like that's weird. But
I'm happy to settle. Now. You're doing it literally from scratch,
so there's going to be everything in your house that
you want. I'm just I can't wait. So it's going
(04:34):
to be I want to share the whole thing with
you guys, already killed my mom. Everyone behind me, she's queen.
Speaker 2 (04:40):
I just yeah, I'm really so thankful for all the
support from you guys, from the listeners. Like I just
I put up a little reel to like announce it,
and I said, I just feel like without the support
of everyone, I would have given up a long time ago.
Speaker 4 (04:54):
And so I'm so he did try, he did try.
I had a moment. You know, we've all been there.
Speaker 2 (04:59):
Yeah, I'm I'm so thrilled for the journey and so yeah,
I'm just like overflowing with gratitude, stress, exciting.
Speaker 4 (05:06):
Yeah, now to be building stress stress, It'll be good.
And I know the route you're going down. I'm very
very excited. So soph G ninety two, you are correct
and you're going to be very happy because the news
is that Jess says, technically you bought a house for
bought land and he's in the process of building her
first home. Stay tuned, we'll share it all. All right,
let's get into the Question of the week. So, as
(05:29):
you guys know, it's time for our new favorite part
of our Friday Drinks episode where we get to ask
one question that you guys are dying to know. It
could be literally anything money life or anything rogue, like
this one from Rochelle, who has asked she's on the
Money team. I want to know if you had to
survive on just one supermarket aisle for the rest of
your life, which I'll you camping out in so easy?
Speaker 6 (05:52):
Is it?
Speaker 2 (05:52):
There's an obvious answer, is it? Which I want you,
guys answer now, because I'm sure.
Speaker 4 (05:56):
I mean, there's an obvious answer.
Speaker 5 (05:57):
There's a correct answer here, correct correct, you're thinking the
correct answers like the water aisle or nothing.
Speaker 4 (06:08):
Will assume you have access to water, okay.
Speaker 3 (06:11):
Assume you have access to water.
Speaker 4 (06:13):
That's true.
Speaker 3 (06:13):
Okay, assume you have access to water.
Speaker 4 (06:15):
Yeah, because you're going to cook our stuff anyway exactly,
and maybe you know toothpaste, shampooy, etcetera.
Speaker 5 (06:22):
So I personally like the bakery paste bakery, Yeah, bakery
forever forever.
Speaker 4 (06:29):
Yes, you said, good one. Why? I mean, it's not
my choice, but it's a good choice. You're in the
pasta ile, aren't you. No, No, I'm not hold on
eating confectionary guys. I once I say it, you're gonna
be like, oh, okay, okay, food.
Speaker 2 (06:44):
Yes, I am, and like this because yeah, okay, savory,
there's vegetables, there's.
Speaker 3 (06:53):
Anything that's really just us.
Speaker 4 (06:56):
And I was going to say, oh, look, I'm not
going to love this answer because I don't know if
I could do with past it. But like the fresh
veggie section because like, you know, fruits and veggies, like
I'll be healthy, and like you could make mashed potatoes,
so that's good, make noki but sorry, can I rescind
that idea? And I would like to move in with Jess.
You could have a frozen pizza and then you could
(07:16):
make some veggies, like I.
Speaker 5 (07:18):
Think that we have to assume that there is no
utensil you can't use, like, but we're actually living in
the living in the aisle, I might get a bit chilly,
but I'll be well.
Speaker 4 (07:27):
No, we're not leaving any I know she said live,
but that was a lot. That was a lot. Let's
put that question in our show notes on Spotify so
that the community can answer that as well, because in
those questions, tell us your answer, Like if you pick compectionery.
Speaker 3 (07:42):
Why it's tempting, but you get it, it's empting.
Speaker 4 (07:45):
I would, but someone somewhere is going to be like,
I'm never sick of eating chips. That's true, all right.
I feel like that's enough. On which supermarket ile we're
going to live in. If you've got a question that
you are dying for us to answer literally clearly, no
matter how rogue, leave it in the comments and we
will hopefully get to it. Jess, it is your time
to shine again. Community, money wins and confessions. What have
(08:05):
you got this week? Oh right, there are some goodies
this week.
Speaker 2 (08:08):
First, I've got one from Cassie, who says she always
browses the clearance section at the supermarket. She said today
she got a dog lick Matt for sixty cents that
will be of great use the coming summer for her
beautiful pup obviously pet tax pup photo very. You know,
I love a little look at the supermarket clearance. It's
always at random, stuck, totally totally, very fun. Maybe that's
(08:28):
where I would live in the clearance.
Speaker 3 (08:31):
That's too.
Speaker 2 (08:33):
Next, I've got a money lost from Kab who said
she had a big ADHD tax moment. She totally mismanaged
her time last week and had to scramble to get
critical chores done before leaving for her holiday. She said
it left her with an embarrassing result that she had
to ring the airline from the train platform and change
the flight to an hour later, which totally blew the
budget out for her trip. She said she did end
(08:53):
up having lounde access that was a result, so she
at least, you know, stopped up on a couple of
meals while she was there. So although it was a
money loss, she didn't let it lure her into continuing
to overspend just because things hadn't gone to plan. That's fair,
And I just want to remind people like that's like,
that is such a common thing for eighty hds, right, Like,
the loss of little things sometimes can happen, and it's
(09:13):
important that you don't beat yourself up.
Speaker 4 (09:14):
You just go, Okay, well, how can I.
Speaker 5 (09:16):
Deal with it totally?
Speaker 4 (09:17):
How do I move forward? Do you let her your holiday?
Speaker 3 (09:20):
Totally?
Speaker 4 (09:20):
I would have let it ruin my holiday, but I
can't be trusted those do as Katie's did, not as
we would do. Yeah, don't listen to Victoria. What would
she know next?
Speaker 2 (09:30):
I've got money in from Misha. She said she had
to get her passport renewed four hundred and twelve dollars.
Speaker 4 (09:35):
Oh my gosh, she's one hundred and twelve. Now I
know you are crazy.
Speaker 2 (09:39):
And then if you want it, you know, shipped to
you quickly with tracking, she said, it's an extra hundred
and five dollars. Okay, so that would be five hundred
and seventeen dollars, she said. Instead, she asked some questions
at the passport office and she was told that she
could just keep an eye on the tracking number and
if it was not being delivered quickly enough, she should
then call up and and add the fast track on.
(10:02):
So if it looks like it's on track, you're all good.
If not, oh my god, I leave for my holiday
in you know, four days, bring them up. Can I
fast track pay the fee?
Speaker 3 (10:12):
Yeah, that's really clever.
Speaker 2 (10:13):
That's a really good tip, she said. To be determined
whether or not if the money loss or money saved.
But it's really handy to know to people.
Speaker 4 (10:19):
This is just me thinking about finances again. Do people
ask for things like their passport for Christmas? It never
occurred to me, But so expensive and something that you
actually need. Is that something that you would be like,
oh hey mom, and they're like, oh, we want to
get you something good. It's like, well, I don't want
(10:39):
stuff anymore. I want to travel and I need a
new passport. Yeah, you get me in my passport? Or
is that just not love a practical gift? I'm all
for it, absolutely. I never buy just practical gift. It's
my favorite, just lush.
Speaker 2 (10:52):
You probably not high on the practicality, but I add,
I just know that.
Speaker 4 (10:56):
You'd never do it yourself, like you talk about it
all the time. And then I'm like, right time to shine.
You know what is going to make Jessica jump on
a chair? Yeah you do, Tom Cruise moment for a
ninja slushy. I would and have and would again.
Speaker 2 (11:10):
And then last of these weeks, I've got a money
from Ashley who said after ten years her boobs have
shrunk and she's no longer limited to plain bras or
expensive ones from specialist shop money, because I think we
can all really feel that one a little bit now, Oh.
Speaker 4 (11:22):
Yeah, do you want? Someone asked me the other day,
would you rather a nude of you to circulate the internet.
Speaker 3 (11:28):
Or please or your Yeah?
Speaker 4 (11:30):
You'd be like, yeah I did that, or your chat
GPT search history leaks. That's hilarious. And then I was like, wait,
is it a nude of me? Before I breastfed. If so,
you show absolutely everybody that picture everybody. But if you
take my CHATCHPT search history, I think we will be doneous.
Speaker 3 (11:51):
I hope that's the next question of the week.
Speaker 4 (11:53):
I just don't look at my chat GPT search history.
It's not even spicy, it's just embarrassing. Yeah, how do
you pronounce?
Speaker 3 (12:01):
How does pull table no balls white?
Speaker 4 (12:03):
Yeah?
Speaker 5 (12:03):
Exactly, And I still don't know, right, Beck, it is
your turn.
Speaker 4 (12:08):
Tell me what broke tips you bring into the table
this week. Okay, So this.
Speaker 5 (12:12):
First one I got off one of like the threads
in our Facebook group from a community member who is
going back to UNI congratulations, and they're looking for ideas
for like student discounts and things like that. This one
was suggested a few times. It's called UNI Days and
once you've signed up and verified your student status, you
can shop through them to received student discounts. They have
a whole range of partners, like the iconic Sephora. You
(12:34):
can just chop through the platform and get like discounts
to random brands and things like that, which I think
is great.
Speaker 4 (12:39):
I used to use that back in the day, so
that platform has been around. Yeah, Agous, it might be
completely different now. But you had to upload like a
scanned version of your student ID. And everyone at my
union was talking about how you would just wipe out
the expiry day, and so I might have tried that
and then had it for a little bit longer than
maybe I was entitled to. Still got it?
Speaker 3 (13:02):
I thought, no, not to this day.
Speaker 4 (13:04):
Actually, it's like my discount on my phone plan. Because
I was a student, they took it away and then
I was like, oh, hey, where did that go. They're like, oh, well,
you have had it for five years or something. We
assume you're not a student anymore. You can reapply for it.
And I was like, I can't. You took it. You
took it. It was half percent, but it was still
five percent. Yeah, what else you got back?
Speaker 5 (13:25):
Well, just a really quick reminder that we have heaps
of great threads like this, like with advice and things
like that in our Facebook group. So if you're not
in it, the link is in the show notes for
you to join. This next one comes from Tire. She
says that she uses dec who Deals to find the
best prices for games, but Nintendo Switches, PlayStation, Xbox, Steam,
Deku is d e Ku just for to have not
(13:46):
used it before. No, I'm not a game of girlye though,
but for the game of Girlies, oh for sure. So
you can set a watch list and get emailed when
there is a price drop. You can look at the
price history and get a weekly email of games on special,
which I think is great. Love love it for us
And what's yours? Okay, So my broke tip for this week,
And this is one that I know you guys have
(14:07):
mentioned before and I never fully grasped it before. But
you know one Pass obviously obsessed.
Speaker 4 (14:13):
Yes, so I think I only just.
Speaker 5 (14:15):
I'm almost like regretting the amount of time I spent
and not really understanding the concept of one past.
Speaker 3 (14:20):
But basically, just for context, you guys might have seen.
Speaker 5 (14:22):
That we've been working with one Pass recently, like talking
about the great value a membership provides, for example five
times fly by his points when you shop in store,
or clicking collected Kmart, Target, Bunnings and.
Speaker 4 (14:34):
A few other places as well, truly preaching to the converted,
like Jess and I have been trying to get you
to understand.
Speaker 3 (14:40):
I can't believe it. That's crazy.
Speaker 5 (14:42):
For the listener's context, because I know that you guys
know already. But it's also free shipping from all of
those stores. And like obviously, as I mentioned other stores,
I've only listed three here, Kmart, Target, Bunnings, but there
are other stores on there.
Speaker 4 (14:54):
Like office Works. And also I don't know about you,
but if you have to pay for shipping, I'm always
adding a dish things to my cart to quote make
it worth it. I don't do that, so I'm just
ending that's so true.
Speaker 3 (15:06):
But there's actually more.
Speaker 4 (15:08):
Oh wait, you've written down more notes, right, Actually tell
us I do because and I know.
Speaker 5 (15:11):
That you guys know this, or maybe you don't know this,
but if a product is fairly unused or looks in
great condition, I'm going to.
Speaker 3 (15:20):
Say unused just for the purpose.
Speaker 5 (15:22):
Don't get in trouble. It has to be unused, has
to be perfect condition. You have three hundred and sixty
five days to return it. That's a whole year, do
you know what.
Speaker 4 (15:28):
I didn't know that. That's crazy because I'm not looking
into those terms and conditions. I just want my points
and I also want my baby singlets sent to me
without shipping costs.
Speaker 3 (15:37):
Yeah, so fair, Well, you can do all of those things.
Speaker 5 (15:39):
And also you can get to the end of the
year and be like, oh, I never even use this,
I'm going to take it back now tags are still on.
Speaker 3 (15:46):
That's wild. It might even be discontinue. That's the thing
I'm thinking.
Speaker 5 (15:50):
What if it's a discontinued item and they're like, well,
I guess you got to You're allowed to.
Speaker 4 (15:54):
You're allowed to do this.
Speaker 2 (15:55):
We talk about this every year, but VD you and
I renew our memberships every year at the same time.
Speaker 4 (16:00):
Only when it's on sale, because yes.
Speaker 2 (16:02):
And it's on sale right now. Everybody just is a
little fi may we can link it in the show
notes or something. For you guys, it's half priced. Your
annual membership is twenty dollars instead of forty. That's like
a dollar thirty a month or something.
Speaker 4 (16:12):
Yeah, that's ridiculous.
Speaker 3 (16:14):
Crazy.
Speaker 2 (16:14):
If you order two things online over the course of
the ARP, you've paid for itself in you've saved, which I.
Speaker 4 (16:19):
Think is crazy. I love the fact that if your
points curly, you're like turbo charging your points. Yeah, but
if you're not a point scurly, you're getting free shipping.
So everybody wins.
Speaker 3 (16:28):
No matter what. You're a winner.
Speaker 2 (16:29):
Check out the link of the show notes. We'll pop
that down there. Great value questionable is to whether or
not you can return things.
Speaker 4 (16:34):
But do it that information?
Speaker 3 (16:36):
Sure you are exactly one plass.
Speaker 4 (16:37):
Can't stop us exactly. Oh my god, they sound great.
Speaker 5 (16:40):
I'm going to do it. I'm gonna do it right
after this.
Speaker 4 (16:42):
You actually sure it's great? About like I literally renew
it every year. I'm a part of their cult. I
don't know if they are running a cult, but if
they were, i'd been well consider me culted were drinking
people laid.
Speaker 3 (16:52):
Oh yeah, I want to drink some.
Speaker 4 (16:53):
All right, let's go to a really quick break because
on the flip side, I am chomping at the bit
to get into two of these questions. So the first
one is a money dilemma from someone in our community
who rung in and said, v is it a good
idea to get a loan so that I can invest
into the share market? And then you guys slid into
our dms. This week, we're going to be talking about
how to work out how much we spend on adult gifts,
(17:15):
and then we're also going to ask the spicier question
of is a gift card a really impersonal gift to give,
so guys don't go anywhere. Welcome back, everybody. Let's take
a listen to this week's money dilemma. Hi. There, have
you got a money dilemma you just can't solve That.
(17:36):
She's on the Money team is here to help. Every
week we tackle your dilemmas, both big and small, to
answer your most burning money, career and life questions. To
get involved, simply head to our website and leave us
a short voice recording and you might just find yourself
on the show. Now, let's take a listen to this
week's money dilemma.
Speaker 6 (17:56):
Hi, She's on the Money. So my husband and I
went and spoke to a financial advisor for the first
time ever, and we discussed our interest to invest in shares,
and the financial advisor recommended getting alone to invest in
shares because it's taxed at a more reduced rate. I've
(18:18):
never heard of this concept before, and I don't really
understand how it works. I don't feel super comfortable with
the idea of getting into debt to invest in the
share market, even though investing in the share market is
something that my husband and I are really passionate about
and really interested in getting into. Could you please explain
(18:39):
why the financial advisor might have advisors? How does this
process work? Where I could read some additional resources. I
am not really sure how to get more information and
educate myself on this topic.
Speaker 1 (18:52):
Thank you.
Speaker 5 (18:53):
I got to tell you, guys, I literally have thought this.
I think about this every day.
Speaker 4 (18:57):
Why because if you think about this every day, think about.
Speaker 5 (19:00):
It at least once a day, I think, really, yeah,
I think so because I keep meaning to ask you
and I keep getting But say, for example, you put
fifty thousand dollars in. I mean, we don't know how
much it's going to return, but let's say on average
your returns like nine ten percent, and then the interest
on the loan nine to ten.
Speaker 3 (19:17):
She's not sorry.
Speaker 4 (19:19):
I was like, where are you getting your starts from?
Speaker 1 (19:21):
Beck?
Speaker 3 (19:22):
Is it nineteen you guys?
Speaker 2 (19:24):
No?
Speaker 3 (19:24):
And then the interest and say the interest on the
loan is like four percent.
Speaker 5 (19:27):
I'm like, well, I could just put it in there
for a year, take out the whole amount, pay off
the loan, and then I've just got like free money.
Speaker 4 (19:36):
Yeah, that's kind of how it works. That's crazy, Like,
you're not wrong. That's a very simplified version of it.
When you lend money so that you're able to invest
in the share market. It's either called creating a GID
portfolio or creating a leveraged portfolio. Or the loan type
that you would engage in is called a margin loan
(19:57):
because you would borrow money for thisific purpose of investing
into the share market. Now, those are actual standalone products,
like you can go and talk to an investment advisor
and then get somebody to write you alone called a
margin loan, so that you can invest in the share market.
I don't have enough background on this community member so
that I understand her personal circumstances. But when I was
(20:18):
a financial advisor, I specialized in investing, so like people
would come to me and I could do like, you know,
the insurances and the savings plans and stuff. But what
I really did was construct investment portfolios, usually for higher
net wealth people, which was really fun and really pervy
and has given me a lot of information. But it
also makes me a little bit worried because I don't
(20:40):
want our community to go, oh, that sounds like a
great idea, just like you did, Beck, Because what happens
if you have a standalone margin loan is like the
market place goes up and down, like the share market
is a roller coaster, and that's okay because over the
long term, when we zoom out, we know that over
thirty years, nobody who's ever invested in the Australian share
market has missed out. But what can happen is, because
(21:04):
that's a leveraged portfolio and there's debt involved, you could
get what's called a margin call, and a margin call
is they might send you an email or give you
a buzz and go, hey, Beck, the value of your
portfolio has dropped because the market has dropped. So we
even need to to make sure that this loan is
still financially stable for us. We need to either sell
(21:24):
down some of your shares so that your leverage to
the right levels, or you could tip in some extra money.
And that is a fickle position to be in, because
we do not ever want you to be in a
position where you're selling shares when they are worthless, and
that to me is a massive red flag of going Oh,
(21:44):
leverage portfolio sounds sick, but there's that risk of getting
a margin call if your like margin in your portfolio
drops below eighty percent. Don't quote me on the eighty
percent because different products have different like margin call times,
so some might be if they're a lot more aggressive,
might be fifty percent summer ninety. You have to talk
to your financial advisor about that. The reason I think,
(22:07):
maybe just because I can hear in her voice like
she's relatively young, that a financial advisor might have recommended
that to her is because she could also maybe take
some equity out of a home loan she has. And
that's where I said, I don't have enough information about
this particular community member to know why this advisor is
putting this strategy on the table, because a standalone loan
(22:27):
I would be very apprehensive of, like a margin loan
for somebody who is you know, let's just pretend Jess,
actually no, because you just bought a house, you might
have some equity there. No, let's pretend beck Beg. You
don't have a house, you don't have any massive assets
to like borrow against so that you get a really
low interest rate. And a margin loan is usually a
(22:47):
higher interest rate because it's not secured against anything really
in comparison to property, which yeah, you might be able
to get a four or five percent interest rate, but
like the same doesn't happen in the margin lending world.
So I feel like I'm yabbering on a bit. Essentially,
one's a little bit more risky than the other. But
a lot of financial advisors might recommend if you want
to invest in the share market, and maybe you've got
(23:09):
let's say fifty thousand dollars in your offset account, they
might go, well, why don't we get fifty thousand dollars
out of your mortgage? Leave your fifty thousand dollars in
your offset account, but will take out a further fifty
thousand dollars in loans on your mortgage, So just like
take some equity, invest that and if things happen in
the market moves, we can use some of that offset
(23:29):
money to top it up, like we're not going to
be hamstrung. And that's where it might work really well.
And a lot of young people have started doing that
in saying that that is risky. Yes, it is more
tax effective, but at what tax level are you at
for it to be super effective? If that makes sense,
So it has to work with your strategy. Is it
(23:49):
a terrible idea?
Speaker 1 (23:51):
No?
Speaker 4 (23:51):
We actually recently or I actually recently recorded a money
diary with a diarist who has a leveraged portfolio where
they've taken equity out of their property invested it in
the share market, and they're doing it relatively, I would
say aggressively because they took seventy thousand dollars out chucked
that in the share market and they're planning on doing
that again. So I'm going to put the link to
that episode in the show notes because it is a
(24:13):
really good insight. But I would look into that, and
I would also just be doing a lot of research
into the type of gearing product you're using or if
it's from your mortgage. And honestly, I know there's a
lot of research that you want to do. But sit
down your advisor and say, why this particular strategy for
us if we've never done this before, Like why are
you recommending this? Did you go to them and ask
(24:33):
about margin lending or did you say can you borrow
money to like do this? Is it in line with
your risk profile? Like I'd be pushing that back on
your financial advisor to give you as many tools and
resources as possible because they should be providing.
Speaker 2 (24:45):
Those, and you're going to do more research on that
when you borrow against your mortgage to invest.
Speaker 4 (24:49):
It's called debt recycling, right, it can be called debt
recycling just because you're using debt to be a little
bit more tax effective. And that, again is another very
valid strategy. Has to be structured properly. And the pickle
that I see a lot of people getting into is
they want to set these things up, but then they're
not cleaning their house at tax time and actually making
(25:09):
the most of these things. They're just like, oh, that's
a good thing, let's set it up, and then they
forget about it, and they don't actually have their finger
on the pulse, and we're not making the most of it.
So these things sound sexy until you realize there's a
little bit of work in the background that consistently needs
to happen to make that work. Got you, That's where
I mean, Yeah, would you like the juicy dilemma?
Speaker 5 (25:30):
Yes?
Speaker 4 (25:31):
All right? This week we got a DM and it
sounded literally exactly like this, you're ready, hije's on the money.
I find gifting really tricky these days. Most of my
friends and family just buy what they want when they
want it, so it's really hard to come up with
something meaningful. Recently, It was my sister's birthday, and when
I asked what she'd like, she suggested something over three
(25:51):
hundred dollars, which was way out of my budget. I
felt guilty then that I couldn't afford it, especially since
we just moved house and I'm saving up for maternity leave.
On top of that, So many people ask for gift cards,
which just feels kind of impersonal and be pointless if
we're just swapping them around With Christmas coming up, I'd
love to know how others deal with this. Do you
(26:11):
guys set a budget? Do you push back on expensive
gift requests? So do you just go with the flow?
Speaker 2 (26:16):
Interesting three dollars for a gift is you know, just
to expect someone to pay that is card?
Speaker 4 (26:21):
That's wild. That's wild to me. I couldn't imagine being
like just saying, oh, v bat Day's coming up. Was
there anything you wanted? And me go, yeah, Ninja Creamy.
Speaker 5 (26:29):
Well, yeah, brand new Dyson actually yeah, yeah, what It's insane.
Speaker 2 (26:34):
I just I think that there's not necessarily a set price.
I think that it's whatever feels good to you.
Speaker 4 (26:41):
I understand the gift card thing.
Speaker 2 (26:42):
Having now heard the dilemma, I'm so pro gift card, Like,
nothing makes me happier than a little make a gift
card or something like that. But because I think you
can then purchase what you want. It's a fun experience,
et cetera.
Speaker 4 (26:54):
But I do every money that you have to spend
at that location, don't transfer it to me, because that's
now my money and I have to be responsible with it. Yes,
I've got to pay a bill with it or something. Yeah, Yes,
I do think I understand.
Speaker 2 (27:05):
Like if it was Christmas time, for example, and I
got you a gift card for fifty dollars, you've got
me a gift card for fifty dollars, you go, well.
Speaker 4 (27:10):
Should we should have just kept it enough? Yes, So
I kind of.
Speaker 2 (27:14):
See that perspective on it. But I think, like more broadly,
I don't find gift cards to be in personal I
think especially if you pick a store or an experience
of going, you know the person loves. I think that's
great in terms of determining how much to spend on somebody,
I mean, how long is a piece of string. It
really comes down to what's in budget for you, because you.
Speaker 4 (27:32):
Need to spend a lot on Jess. Yeah, by the way,
budget for start planning now.
Speaker 2 (27:39):
No, no, but I just you know, you can look
at group gifts I think are a really great way
to keep costs down. But also like some of my
favorite gifts that I've ever gotten have been things that
have been made for me and didn't necessarily cost a
lot of money at all.
Speaker 4 (27:49):
Yes, I do not have the time.
Speaker 2 (27:51):
You will be getting a gift card, goodbye and away.
I think that there's not necessarily a right answer. I
think it's more about the expectation that's been put on you,
because I think a gift is given with love and
no expectation should be put on that at all. Like,
you don't have to get me a gift.
Speaker 3 (28:05):
For my birthday.
Speaker 2 (28:06):
You got me digit that's the most exciting the other
But if you've got me a handwritten card, I would
have been equally as excited, and.
Speaker 4 (28:13):
That I wouldn't have known. Yeah, I wouldn't have so
don't get me wrong, I appreciate that a lot. But
gifting is my love language. I think I've shared before
that I have a creepy list on my phone of
all these things that people have mentioned totally they want
or they're interested in, And like those comments are fleeting
(28:33):
so like, I wish I could divulge what's on Jess's
list right now, but I know those are things that
in passing she's been like that is so cool. I
would love that whatever. She's probably forgotten about half of those.
So when I come to Christmas time and I might go, Jess,
is there anything you want in particular, She's just gonna no,
I can't think of anything. So that list is saving
me because I know that that gift list like probably
(28:56):
rangers from I think about thirty dollars to a couple
of huns, just things that she wants. And I also
just I don't mind what it is. I'm just gonna
put it on the list. Like if Jess says, oh
I want this, you know, thousand dollars brand new diceent
Air rap, I'm gonna put it on my list because
it's gonna help inspire me for when I am gift giving.
(29:17):
So it gives me a theme of like, oh, Jess
has said over time that she wants these things, and
she wasn't asking for them. She was just in jest
going like, oh my god, I would love x YZ.
But keeping track of that is going to give me
a good insight as to like where I should start
looking if I'm looking for a gift at a different
price point. So Jess last air rap, she's mentioned that
she really wants the new one fantastic, but I don't
(29:39):
have that in budget. Maybe haircare is a good place
for me to start. Maybe I could go down the
route of like buying her a really nice hairbrush or something,
because clearly that's a line to her values. But it
still feels thoughtful, And I mean it's going to change
based on your personality. Some people are just not gift givers,
like I et my husband, and that's not a bad thing.
(30:00):
His love language is acts of service, so like come
my birthday, he will try to give me nice gifts,
and he absolutely does, but he's more about like I've
booked this nice dinner, or I've woken up early and
cleaned to the house and I've made pancakes and you're
going to have them in bed, and like all of
that stuff is his way of showing it. So it
doesn't I don't know. I think you have to understand
(30:20):
the person and their personality, yes, and what they like.
But yeah, the list I feel is very helpful because
it's not just about like, oh, I wrote a list
and now I've got a list of expensive stuff that's
not in much of for Jess. But sorry, Like if
we look at Jess's list, I can show you later
back there's like four hair care things on there totally,
So like that gives me a really good insight as
(30:41):
to maybe what she's interested in at the moment. Yeah,
so that even if I'm getting her something that she
hasn't asked for because I'm looking at a budget, it's
really on brand for what she's currently engaging in totally.
Speaker 5 (30:52):
And if all else fails, I like to check people's
Pinterest if they have one, I like to check you
really follow on Instagram, like Baby's clever.
Speaker 3 (31:00):
Maybe they follow like Fentin and Fentin.
Speaker 5 (31:02):
I cannot afford anything from there, but but the vibe,
the vibes, like maybe even like a cutlery set, like
sometimes they have really nice place mats y like twenty bucks.
Speaker 4 (31:10):
So just follow see who you are way smarter than me.
I just am a stalker.
Speaker 5 (31:14):
You got a stalk and then you end up but
it does take hours because you do end up in
like real rabbit holes, you know, Like, so see who
they follow, and also what they engage content they engage in.
Because sometimes I follow people that I would not like anymore,
you know what I mean, like like styles I wouldn't
like anymore. So I guess like do that if you
have the time. Some people aren't super like creativity doesn't
like excite them, and that's completely fine. But what you
(31:36):
can do is, like say someone's really stressed, you can
just make them like a hamper that with like written
handwritten things.
Speaker 3 (31:41):
Like here is some salts. Do this first step one,
have a bath, step two, make tea. But you're so.
Speaker 4 (31:48):
Thoughtful, like you have acts of service and gift giving
as a love language or mashed together.
Speaker 5 (31:53):
It's a real it's a real combination and end up
spending so much money.
Speaker 4 (31:57):
But so you can just do something like that.
Speaker 5 (31:59):
Where's like handwritten hampers that are just like yeah, yes,
have a self careno, do this first, like a mind
map of sorts, you know, and like I would love
talking through the process. And then it's like so cheap salts,
tea bags, that's all you need to spend. The rest
is handwritten, you know, I think, like something that's like
curated for them. Yeah, and it can be a gift
(32:21):
card especially if it's something that is like niche. You
say you've you've seen they follow Florian Florian homewares on
wrath down Stree.
Speaker 4 (32:30):
I don't.
Speaker 3 (32:30):
If you guys know.
Speaker 5 (32:32):
Really great homewares, you get a gift card for something
like that and they're like, oh, this is personal.
Speaker 2 (32:37):
You know.
Speaker 5 (32:38):
It's not as impersonal as like a Visa gift card
or something, even though those are really cool. It's something
very very.
Speaker 4 (32:43):
Much gift card.
Speaker 5 (32:45):
I love it. I love I love a gift card.
Speaker 4 (32:49):
If you're worried about the persons what I give every
Christmas to all our team members, because I'm like, I do, sorry,
what do we like better at Christmas than a gift cash?
Absolutely so?
Speaker 5 (32:59):
And also are you going to spend it on something
that you want to spend it on? If it was
just cash, you're like you would do something.
Speaker 4 (33:04):
Don't get me wrong. I know Jess loves a mecha
gift card, but like coming into Christmas, I'm like, here
is a Visa gift card. I feel like I love
it from an employer as well. It's very different than
me gifting friends. So like the way I give Jess
on her birthday and stuff is because we're friends, I
really am her employer. But at Christmas, I'm like, well,
everyone gets a quality, we all get exactly the same thing.
(33:26):
I don't want to like do one thing for one
person and then have them thinking wow, I feel so
thought of, and then the next person being like, wow,
she doesn't know me at all. Like I just do
not want to set myself up for that. But also
I don't know this joke. Actually I do know my
most of my team's personal financial situations because of who
I am and what I do, but I also don't know,
(33:46):
and I don't want to guess. And sorry, visa gift
card might be taking some pressure off you buying some
Christmas gifts or chopping up the Christmas table or whatever,
or do what you want with it and spend it
on yourself. Absolutely, but just that idea that there's not
a lot of strings attached to that gift. There's no
like I have to spend it at Mecca. Yeah, but
instead of really, I spent a mecha gift card this
(34:07):
week and oh it felt so bad. Oh so Charlotte
Tilbury holiday palette that's just come out. I can't remember
what it's called, but it has the eye shadow It
has the bronzes and it has the blush all in
one little pink like rose goldie palette. And I was
looking at the one from last year and I really
wanted it, but I wasn't going to buy myself like
a holiday palette. But I had a gift card that
(34:30):
I've been hoarding in my wallet for so long, and
I was like, actually, I'm going to get the palette
and now I have it. It feels fancy.
Speaker 2 (34:37):
Yeah, And you were sparing money, and that's the benefit
or power of a gift card. I know.
Speaker 5 (34:41):
I also on one of the gift card trains, what
you know, but pread.
Speaker 4 (34:44):
Gift card, well, then be not pro gift card, all right.
So we did ask the community a couple of questions
before I so, well, what's your two cents? First, we
asked how do you manage gift giving for adults? Forty
six percent of you said, I just budget and I
limited per person, which I think is fair. Thirty percent
of people then said, we just do secret Santa style,
which I think is I kind of love that the
(35:06):
pressure has been taken off my friend group does that
is twenty two percent of people said, well, actually, coming
into Christmas, we only ever buy for the kids, and
then two percent of people it must be nice said
we just get whatever they ask for, no matter the budget. Oh,
I couldn't, Dams, I have a Charistmas wish list for you.
Speaker 2 (35:25):
Yes.
Speaker 4 (35:27):
So the next question we asked was, Jess, how do
we feel about gift cards? Thirty one percent of you
said it's fine if it's thoughtful, twenty eight percent of
you said love them so easy, twenty two percent of
you said no, they feel impersonal, and eighteen percent of
you said it's a pointless swap fest.
Speaker 2 (35:47):
I do understand that, Like I said, if it's like
everyone's doing it once, you're all giving the same amount
of money.
Speaker 4 (35:51):
But yeah, when we asked the community, I said, look, guys,
what's your two cents? And I feel like the community
has our backs. It's so funny sometimes I read through
these and it's just validating because they're all like in
the same headspace. First person said, I actually think it's
so wild for someone to ask for a gift that
costs more than hundred dollars. I completely agree, and I
was like, you're right, queen. Yeah. Next person said, this year,
(36:14):
I'm upfront and I'm just saying no, gifts like, not
for them, not for me. I'd rather have a meal
with them and actually spend quality time. Next person said,
our family now skips the presence. Instead we just do
a night away together. That's really fun. Someone said homemade
gifts are literally the best. I'd take a homemade treat
of any gift card, et cetera. What's your thing, homemade handmaid, No,
(36:35):
homemade handmaid or second hand is on my husband's side
of the family's like Christmas Secret Santa rules.
Speaker 3 (36:42):
That's very good.
Speaker 4 (36:43):
It's so fun too. I remember a couple of years
ago I found on Facebook marketplace somebody I think it
was like fifty bucks or something. They were selling a
kid's kitchen and it was fun. Like if you've been
listening for a while, you're reading this, you know this story.
But apology, but Facebook marketplace kids kitchen for my niece
and nephew. But it was like, the fancy one that
(37:06):
was from Pottery Barn would have been so expensive. But
when I got there, he's like, oh, and you can
have everything in it, so like the little pots, the
little pans, the veltgro freezing vegetables, like the little shopping basket. Everything.
And I was like are you sure anyway? Fifty bucks
best fiftyfty bucks I've ever spent. And I think they've
only just gotten rid of it because they're now a
lot older. Because it turns out this podcast is old,
(37:29):
but it lived in their playhouse for ages and they
they were obsessed, and that just barked so much joy
and the idea that I was giving new life to it. Yeah,
that's a great little way. I feel like, yes, definitely.
Speaker 1 (37:40):
So.
Speaker 4 (37:40):
Next person said I love gift cards when saving for
a big purchase. I'm like Jess, I really want a
kitchen aid, and I love knowing that everybody helped to
get me a gift I really wanted. Another person said
I always buy books. You can get something cheap but
also really meaningful and personal. Cheese on the Money is
a really good, really personal book for most people. So
(38:01):
if you're looking for a Christmas gift or property with
investing with money, yuh, any of them? I actually wrote
five books. I wrote five. That's crazy. I won't do
that again. Joke's on you. You'll probably try at some point. Anyway,
I have two more for you. Next person said, I
actually love giving restaurant gift cards, as they can be
really fun and personal, but they're very easy. And then
(38:21):
last person said, we actually all put in money for
food for Christmas instead, and then everybody wins and we
are all well fed, or different ways that people do
it to start the conversation with your family, Like it
doesn't just happen, Like it's not something that you go,
oh my god, all of a sudden, we're doing Homeman
hammam or secondhand, like you have to kind of be
(38:42):
like in group chat, drop a few hints like hey,
I was listening to a pod and this seemed like
a really good way for us all to just like
make Christmas a lot less stressful. So I would lead
with that as opposed to like, oh, I want to
make Christmas cheaper because some people don't take it the
same way that you or I would like, Oh, it's
a lot less stressful for only buying one gift and
then someone gets a present that's worth a bit more.
(39:03):
There's more value, more time and energy put into it,
and what a cool concept. So I think that's probably
where we should leave it this week.
Speaker 3 (39:11):
Yeah, let's gorgeous.
Speaker 4 (39:12):
Well, we'll see you bright and early on Monday morning
for a money dary. But till then have the best
weekend and guys do not forget. Ms jesscot Richie is
the proud owner of a block of plans next Guys,
see you Guys by Guys. The ad buy shared on
(39:32):
She's on the Money is general in nature and does
not consider your individual circumstances. She's on the Money exists
purely for educational purposes and should not be relied upon
to make an investment or financial decision. If you do
choose to buy a financial product, read the PDS TMD
and obtain appropriate financial.
Speaker 3 (39:50):
Advice tailored towards your needs.
Speaker 4 (39:52):
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Speaker 4 (39:58):
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My name is Tatasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country t Glenn Young
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(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Aberiginal people's land that
we're gathering on today. Take pleasure in all the land
and respect all that you see. She's on the Money
podcast acknowledges culture, country, community and connections, bringing you the tools,
knowledge and resources for you to thrive.
Speaker 2 (00:45):
She's on the Money.
Speaker 3 (00:47):
She's on the Money.
Speaker 4 (01:07):
Hello and welcome to She's on the Money, the podcast
that makes personal finance fun, especially on Fridays. My friends,
it is our favorite day of the week because we
get our team together and we get to celebrate you
the incredible. She's on the Money community ms Grit. She's
here and she's going to be sharing her favorite money
wins and maybe a little breaking news. Miss beck sayed
(01:28):
will be sharing her broke tips, and we're going to
be helping to answer a money dilemma which asked v
is it a good idea to take out a loan
to then invest into the share market? And something that
you slid into our dms about working out how much
to spend on buying gifts for adults with a tiny
little spicy side question on whether gift cards are just
impersonal gestures, which as a fan of gift cards, I
(01:50):
feel like I have some thoughts and feelings. But before
we get to our question of the week and I
get to grill you both on your personal opinions, do
we want to hype our selves up with a little
five star review? Yes? Please wait now, Beck, I always
pick ones that are about you because I literally love
like how excited you get, So I'm not putting that aside.
(02:11):
But this one, this week's for Jess. Yes, so fair,
So it's totally just for Jess. Go Jess five stars.
I will be so so happy. If the news you
are planning on sharing is that Jess has purchased her
first home, please tell us what the good news is.
Ps I love you girls. So that's a very nice
(02:32):
segue into miss Jessica Ricci. That's a very nice review, thank.
Speaker 5 (02:36):
You, thank you.
Speaker 3 (02:37):
But what's your news, guys, I'm filming it exciting, so cool.
Speaker 4 (02:47):
So so she's the official owner of a patch of
dirt with no property on it right now and a
photo in front of it.
Speaker 3 (02:54):
Did you touch the dirt?
Speaker 4 (02:56):
So cute? I did. I wrote my name in it.
It was a very spiritual. Yeah, tell me a little
bit more. I think this is the first time beck
is hearing about this, and I have been in the
background being like, have you spoken to them about landmarkers?
What about your conveyancer? So this has been really fun
because you're also working with the team at Zella Money,
which we are all just so excited for you. I
(03:17):
think this journey has been so long. Is it what
you wanted as the peakiest girl in the entire world?
Speaker 3 (03:23):
How did you decide?
Speaker 4 (03:24):
You know this is the one?
Speaker 2 (03:26):
You know what? It really was just almost fateful. So
there's you know, there's such a small pocket that I
was looking at buying in and you mean like less
than a kilometer square, guy, very small, and so it's
you know, so you have to take what you can get.
And the block is a little bit smaller than I wanted,
but it's still fits a house that's a really great design.
It's the orientation that I wanted. I'm just so over
(03:50):
the moon.
Speaker 4 (03:50):
I'm so exciting. I'm so excited. And it's just like
validation as well, because there's been so many times you're like,
they really like this house, but they're asking X amount
and that's not in the budget, and I keep being like, babe,
it's coming for you, I promise, and like watching you
be so upset about you know, quote missing out, yeah,
and then knowing you're not going to miss out now,
(04:11):
Like we're starting from scratch, so it's like not compromising
on you know. Oh yeah, no, I loved it, but
the kitchen was like definitely the wrong colors. I'd have
to update the bathrooms all like, oh, like why have
they got carpet in the toilet? Like that's weird. But
I'm happy to settle. Now. You're doing it literally from scratch,
so there's going to be everything in your house that
you want. I'm just I can't wait. So it's going
(04:34):
to be I want to share the whole thing with
you guys, already killed my mom. Everyone behind me, she's queen.
Speaker 2 (04:40):
I just yeah, I'm really so thankful for all the
support from you guys, from the listeners. Like I just
I put up a little reel to like announce it,
and I said, I just feel like without the support
of everyone, I would have given up a long time ago.
Speaker 4 (04:54):
And so I'm so he did try, he did try.
I had a moment. You know, we've all been there.
Speaker 2 (04:59):
Yeah, I'm I'm so thrilled for the journey and so yeah,
I'm just like overflowing with gratitude, stress, exciting.
Speaker 4 (05:06):
Yeah, now to be building stress stress, It'll be good.
And I know the route you're going down. I'm very
very excited. So soph G ninety two, you are correct
and you're going to be very happy because the news
is that Jess says, technically you bought a house for
bought land and he's in the process of building her
first home. Stay tuned, we'll share it all. All right,
let's get into the Question of the week. So, as
(05:29):
you guys know, it's time for our new favorite part
of our Friday Drinks episode where we get to ask
one question that you guys are dying to know. It
could be literally anything money life or anything rogue, like
this one from Rochelle, who has asked she's on the
Money team. I want to know if you had to
survive on just one supermarket aisle for the rest of
your life, which I'll you camping out in so easy?
Speaker 6 (05:52):
Is it?
Speaker 2 (05:52):
There's an obvious answer, is it? Which I want you,
guys answer now, because I'm sure.
Speaker 4 (05:56):
I mean, there's an obvious answer.
Speaker 5 (05:57):
There's a correct answer here, correct correct, you're thinking the
correct answers like the water aisle or nothing.
Speaker 4 (06:08):
Will assume you have access to water, okay.
Speaker 3 (06:11):
Assume you have access to water.
Speaker 4 (06:13):
That's true.
Speaker 3 (06:13):
Okay, assume you have access to water.
Speaker 4 (06:15):
Yeah, because you're going to cook our stuff anyway exactly,
and maybe you know toothpaste, shampooy, etcetera.
Speaker 5 (06:22):
So I personally like the bakery paste bakery, Yeah, bakery
forever forever.
Speaker 4 (06:29):
Yes, you said, good one. Why? I mean, it's not
my choice, but it's a good choice. You're in the
pasta ile, aren't you. No, No, I'm not hold on
eating confectionary guys. I once I say it, you're gonna
be like, oh, okay, okay, food.
Speaker 2 (06:44):
Yes, I am, and like this because yeah, okay, savory,
there's vegetables, there's.
Speaker 3 (06:53):
Anything that's really just us.
Speaker 4 (06:56):
And I was going to say, oh, look, I'm not
going to love this answer because I don't know if
I could do with past it. But like the fresh
veggie section because like, you know, fruits and veggies, like
I'll be healthy, and like you could make mashed potatoes,
so that's good, make noki but sorry, can I rescind
that idea? And I would like to move in with Jess.
You could have a frozen pizza and then you could
(07:16):
make some veggies, like I.
Speaker 5 (07:18):
Think that we have to assume that there is no
utensil you can't use, like, but we're actually living in
the living in the aisle, I might get a bit chilly,
but I'll be well.
Speaker 4 (07:27):
No, we're not leaving any I know she said live,
but that was a lot. That was a lot. Let's
put that question in our show notes on Spotify so
that the community can answer that as well, because in
those questions, tell us your answer, Like if you pick compectionery.
Speaker 3 (07:42):
Why it's tempting, but you get it, it's empting.
Speaker 4 (07:45):
I would, but someone somewhere is going to be like,
I'm never sick of eating chips. That's true, all right.
I feel like that's enough. On which supermarket ile we're
going to live in. If you've got a question that
you are dying for us to answer literally clearly, no
matter how rogue, leave it in the comments and we
will hopefully get to it. Jess, it is your time
to shine again. Community, money wins and confessions. What have
(08:05):
you got this week? Oh right, there are some goodies
this week.
Speaker 2 (08:08):
First, I've got one from Cassie, who says she always
browses the clearance section at the supermarket. She said today
she got a dog lick Matt for sixty cents that
will be of great use the coming summer for her
beautiful pup obviously pet tax pup photo very. You know,
I love a little look at the supermarket clearance. It's
always at random, stuck, totally totally, very fun. Maybe that's
(08:28):
where I would live in the clearance.
Speaker 3 (08:31):
That's too.
Speaker 2 (08:33):
Next, I've got a money lost from Kab who said
she had a big ADHD tax moment. She totally mismanaged
her time last week and had to scramble to get
critical chores done before leaving for her holiday. She said
it left her with an embarrassing result that she had
to ring the airline from the train platform and change
the flight to an hour later, which totally blew the
budget out for her trip. She said she did end
(08:53):
up having lounde access that was a result, so she
at least, you know, stopped up on a couple of
meals while she was there. So although it was a
money loss, she didn't let it lure her into continuing
to overspend just because things hadn't gone to plan. That's fair,
And I just want to remind people like that's like,
that is such a common thing for eighty hds, right, Like,
the loss of little things sometimes can happen, and it's
(09:13):
important that you don't beat yourself up.
Speaker 4 (09:14):
You just go, Okay, well, how can I.
Speaker 5 (09:16):
Deal with it totally?
Speaker 4 (09:17):
How do I move forward? Do you let her your holiday?
Speaker 3 (09:20):
Totally?
Speaker 4 (09:20):
I would have let it ruin my holiday, but I
can't be trusted those do as Katie's did, not as
we would do. Yeah, don't listen to Victoria. What would
she know next?
Speaker 2 (09:30):
I've got money in from Misha. She said she had
to get her passport renewed four hundred and twelve dollars.
Speaker 4 (09:35):
Oh my gosh, she's one hundred and twelve. Now I
know you are crazy.
Speaker 2 (09:39):
And then if you want it, you know, shipped to
you quickly with tracking, she said, it's an extra hundred
and five dollars. Okay, so that would be five hundred
and seventeen dollars, she said. Instead, she asked some questions
at the passport office and she was told that she
could just keep an eye on the tracking number and
if it was not being delivered quickly enough, she should
then call up and and add the fast track on.
(10:02):
So if it looks like it's on track, you're all good.
If not, oh my god, I leave for my holiday
in you know, four days, bring them up. Can I
fast track pay the fee?
Speaker 3 (10:12):
Yeah, that's really clever.
Speaker 2 (10:13):
That's a really good tip, she said. To be determined
whether or not if the money loss or money saved.
But it's really handy to know to people.
Speaker 4 (10:19):
This is just me thinking about finances again. Do people
ask for things like their passport for Christmas? It never
occurred to me, But so expensive and something that you
actually need. Is that something that you would be like,
oh hey mom, and they're like, oh, we want to
get you something good. It's like, well, I don't want
(10:39):
stuff anymore. I want to travel and I need a
new passport. Yeah, you get me in my passport? Or
is that just not love a practical gift? I'm all
for it, absolutely. I never buy just practical gift. It's
my favorite, just lush.
Speaker 2 (10:52):
You probably not high on the practicality, but I add,
I just know that.
Speaker 4 (10:56):
You'd never do it yourself, like you talk about it
all the time. And then I'm like, right time to shine.
You know what is going to make Jessica jump on
a chair? Yeah you do, Tom Cruise moment for a
ninja slushy. I would and have and would again.
Speaker 2 (11:10):
And then last of these weeks, I've got a money
from Ashley who said after ten years her boobs have
shrunk and she's no longer limited to plain bras or
expensive ones from specialist shop money, because I think we
can all really feel that one a little bit now, Oh.
Speaker 4 (11:22):
Yeah, do you want? Someone asked me the other day,
would you rather a nude of you to circulate the internet.
Speaker 3 (11:28):
Or please or your Yeah?
Speaker 4 (11:30):
You'd be like, yeah I did that, or your chat
GPT search history leaks. That's hilarious. And then I was like, wait,
is it a nude of me? Before I breastfed. If so,
you show absolutely everybody that picture everybody. But if you
take my CHATCHPT search history, I think we will be doneous.
Speaker 3 (11:51):
I hope that's the next question of the week.
Speaker 4 (11:53):
I just don't look at my chat GPT search history.
It's not even spicy, it's just embarrassing. Yeah, how do
you pronounce?
Speaker 3 (12:01):
How does pull table no balls white?
Speaker 4 (12:03):
Yeah?
Speaker 5 (12:03):
Exactly, And I still don't know, right, Beck, it is
your turn.
Speaker 4 (12:08):
Tell me what broke tips you bring into the table
this week. Okay, So this.
Speaker 5 (12:12):
First one I got off one of like the threads
in our Facebook group from a community member who is
going back to UNI congratulations, and they're looking for ideas
for like student discounts and things like that. This one
was suggested a few times. It's called UNI Days and
once you've signed up and verified your student status, you
can shop through them to received student discounts. They have
a whole range of partners, like the iconic Sephora. You
(12:34):
can just chop through the platform and get like discounts
to random brands and things like that, which I think
is great.
Speaker 4 (12:39):
I used to use that back in the day, so
that platform has been around. Yeah, Agous, it might be
completely different now. But you had to upload like a
scanned version of your student ID. And everyone at my
union was talking about how you would just wipe out
the expiry day, and so I might have tried that
and then had it for a little bit longer than
maybe I was entitled to. Still got it?
Speaker 3 (13:02):
I thought, no, not to this day.
Speaker 4 (13:04):
Actually, it's like my discount on my phone plan. Because
I was a student, they took it away and then
I was like, oh, hey, where did that go. They're like, oh, well,
you have had it for five years or something. We
assume you're not a student anymore. You can reapply for it.
And I was like, I can't. You took it. You
took it. It was half percent, but it was still
five percent. Yeah, what else you got back?
Speaker 5 (13:25):
Well, just a really quick reminder that we have heaps
of great threads like this, like with advice and things
like that in our Facebook group. So if you're not
in it, the link is in the show notes for
you to join. This next one comes from Tire. She
says that she uses dec who Deals to find the
best prices for games, but Nintendo Switches, PlayStation, Xbox, Steam,
Deku is d e Ku just for to have not
(13:46):
used it before. No, I'm not a game of girlye though,
but for the game of Girlies, oh for sure. So
you can set a watch list and get emailed when
there is a price drop. You can look at the
price history and get a weekly email of games on special,
which I think is great. Love love it for us
And what's yours? Okay, So my broke tip for this week,
And this is one that I know you guys have
(14:07):
mentioned before and I never fully grasped it before. But
you know one Pass obviously obsessed.
Speaker 4 (14:13):
Yes, so I think I only just.
Speaker 5 (14:15):
I'm almost like regretting the amount of time I spent
and not really understanding the concept of one past.
Speaker 3 (14:20):
But basically, just for context, you guys might have seen.
Speaker 5 (14:22):
That we've been working with one Pass recently, like talking
about the great value a membership provides, for example five
times fly by his points when you shop in store,
or clicking collected Kmart, Target, Bunnings and.
Speaker 4 (14:34):
A few other places as well, truly preaching to the converted,
like Jess and I have been trying to get you
to understand.
Speaker 3 (14:40):
I can't believe it. That's crazy.
Speaker 5 (14:42):
For the listener's context, because I know that you guys
know already. But it's also free shipping from all of
those stores. And like obviously, as I mentioned other stores,
I've only listed three here, Kmart, Target, Bunnings, but there
are other stores on there.
Speaker 4 (14:54):
Like office Works. And also I don't know about you,
but if you have to pay for shipping, I'm always
adding a dish things to my cart to quote make
it worth it. I don't do that, so I'm just
ending that's so true.
Speaker 3 (15:06):
But there's actually more.
Speaker 4 (15:08):
Oh wait, you've written down more notes, right, Actually tell
us I do because and I know.
Speaker 5 (15:11):
That you guys know this, or maybe you don't know this,
but if a product is fairly unused or looks in
great condition, I'm going to.
Speaker 3 (15:20):
Say unused just for the purpose.
Speaker 5 (15:22):
Don't get in trouble. It has to be unused, has
to be perfect condition. You have three hundred and sixty
five days to return it. That's a whole year, do
you know what.
Speaker 4 (15:28):
I didn't know that. That's crazy because I'm not looking
into those terms and conditions. I just want my points
and I also want my baby singlets sent to me
without shipping costs.
Speaker 3 (15:37):
Yeah, so fair, Well, you can do all of those things.
Speaker 5 (15:39):
And also you can get to the end of the
year and be like, oh, I never even use this,
I'm going to take it back now tags are still on.
Speaker 3 (15:46):
That's wild. It might even be discontinue. That's the thing
I'm thinking.
Speaker 5 (15:50):
What if it's a discontinued item and they're like, well,
I guess you got to You're allowed to.
Speaker 4 (15:54):
You're allowed to do this.
Speaker 2 (15:55):
We talk about this every year, but VD you and
I renew our memberships every year at the same time.
Speaker 4 (16:00):
Only when it's on sale, because yes.
Speaker 2 (16:02):
And it's on sale right now. Everybody just is a
little fi may we can link it in the show
notes or something. For you guys, it's half priced. Your
annual membership is twenty dollars instead of forty. That's like
a dollar thirty a month or something.
Speaker 4 (16:12):
Yeah, that's ridiculous.
Speaker 3 (16:14):
Crazy.
Speaker 2 (16:14):
If you order two things online over the course of
the ARP, you've paid for itself in you've saved, which I.
Speaker 4 (16:19):
Think is crazy. I love the fact that if your
points curly, you're like turbo charging your points. Yeah, but
if you're not a point scurly, you're getting free shipping.
So everybody wins.
Speaker 3 (16:28):
No matter what. You're a winner.
Speaker 2 (16:29):
Check out the link of the show notes. We'll pop
that down there. Great value questionable is to whether or
not you can return things.
Speaker 4 (16:34):
But do it that information?
Speaker 3 (16:36):
Sure you are exactly one plass.
Speaker 4 (16:37):
Can't stop us exactly. Oh my god, they sound great.
Speaker 5 (16:40):
I'm going to do it. I'm gonna do it right
after this.
Speaker 4 (16:42):
You actually sure it's great? About like I literally renew
it every year. I'm a part of their cult. I
don't know if they are running a cult, but if
they were, i'd been well consider me culted were drinking
people laid.
Speaker 3 (16:52):
Oh yeah, I want to drink some.
Speaker 4 (16:53):
All right, let's go to a really quick break because
on the flip side, I am chomping at the bit
to get into two of these questions. So the first
one is a money dilemma from someone in our community
who rung in and said, v is it a good
idea to get a loan so that I can invest
into the share market? And then you guys slid into
our dms. This week, we're going to be talking about
how to work out how much we spend on adult gifts,
(17:15):
and then we're also going to ask the spicier question
of is a gift card a really impersonal gift to give,
so guys don't go anywhere. Welcome back, everybody. Let's take
a listen to this week's money dilemma. Hi. There, have
you got a money dilemma you just can't solve That.
(17:36):
She's on the Money team is here to help. Every
week we tackle your dilemmas, both big and small, to
answer your most burning money, career and life questions. To
get involved, simply head to our website and leave us
a short voice recording and you might just find yourself
on the show. Now, let's take a listen to this
week's money dilemma.
Speaker 6 (17:56):
Hi, She's on the Money. So my husband and I
went and spoke to a financial advisor for the first
time ever, and we discussed our interest to invest in shares,
and the financial advisor recommended getting alone to invest in
shares because it's taxed at a more reduced rate. I've
(18:18):
never heard of this concept before, and I don't really
understand how it works. I don't feel super comfortable with
the idea of getting into debt to invest in the
share market, even though investing in the share market is
something that my husband and I are really passionate about
and really interested in getting into. Could you please explain
(18:39):
why the financial advisor might have advisors? How does this
process work? Where I could read some additional resources. I
am not really sure how to get more information and
educate myself on this topic.
Speaker 1 (18:52):
Thank you.
Speaker 5 (18:53):
I got to tell you, guys, I literally have thought this.
I think about this every day.
Speaker 4 (18:57):
Why because if you think about this every day, think about.
Speaker 5 (19:00):
It at least once a day, I think, really, yeah,
I think so because I keep meaning to ask you
and I keep getting But say, for example, you put
fifty thousand dollars in. I mean, we don't know how
much it's going to return, but let's say on average
your returns like nine ten percent, and then the interest
on the loan nine to ten.
Speaker 3 (19:17):
She's not sorry.
Speaker 4 (19:19):
I was like, where are you getting your starts from?
Speaker 1 (19:21):
Beck?
Speaker 3 (19:22):
Is it nineteen you guys?
Speaker 2 (19:24):
No?
Speaker 3 (19:24):
And then the interest and say the interest on the
loan is like four percent.
Speaker 5 (19:27):
I'm like, well, I could just put it in there
for a year, take out the whole amount, pay off
the loan, and then I've just got like free money.
Speaker 4 (19:36):
Yeah, that's kind of how it works. That's crazy, Like,
you're not wrong. That's a very simplified version of it.
When you lend money so that you're able to invest
in the share market. It's either called creating a GID
portfolio or creating a leveraged portfolio. Or the loan type
that you would engage in is called a margin loan
(19:57):
because you would borrow money for thisific purpose of investing
into the share market. Now, those are actual standalone products,
like you can go and talk to an investment advisor
and then get somebody to write you alone called a
margin loan, so that you can invest in the share market.
I don't have enough background on this community member so
that I understand her personal circumstances. But when I was
(20:18):
a financial advisor, I specialized in investing, so like people
would come to me and I could do like, you know,
the insurances and the savings plans and stuff. But what
I really did was construct investment portfolios, usually for higher
net wealth people, which was really fun and really pervy
and has given me a lot of information. But it
also makes me a little bit worried because I don't
(20:40):
want our community to go, oh, that sounds like a
great idea, just like you did, Beck, Because what happens
if you have a standalone margin loan is like the
market place goes up and down, like the share market
is a roller coaster, and that's okay because over the
long term, when we zoom out, we know that over
thirty years, nobody who's ever invested in the Australian share
market has missed out. But what can happen is, because
(21:04):
that's a leveraged portfolio and there's debt involved, you could
get what's called a margin call, and a margin call
is they might send you an email or give you
a buzz and go, hey, Beck, the value of your
portfolio has dropped because the market has dropped. So we
even need to to make sure that this loan is
still financially stable for us. We need to either sell
(21:24):
down some of your shares so that your leverage to
the right levels, or you could tip in some extra money.
And that is a fickle position to be in, because
we do not ever want you to be in a
position where you're selling shares when they are worthless, and
that to me is a massive red flag of going Oh,
(21:44):
leverage portfolio sounds sick, but there's that risk of getting
a margin call if your like margin in your portfolio
drops below eighty percent. Don't quote me on the eighty
percent because different products have different like margin call times,
so some might be if they're a lot more aggressive,
might be fifty percent summer ninety. You have to talk
to your financial advisor about that. The reason I think,
(22:07):
maybe just because I can hear in her voice like
she's relatively young, that a financial advisor might have recommended
that to her is because she could also maybe take
some equity out of a home loan she has. And
that's where I said, I don't have enough information about
this particular community member to know why this advisor is
putting this strategy on the table, because a standalone loan
(22:27):
I would be very apprehensive of, like a margin loan
for somebody who is you know, let's just pretend Jess,
actually no, because you just bought a house, you might
have some equity there. No, let's pretend beck Beg. You
don't have a house, you don't have any massive assets
to like borrow against so that you get a really
low interest rate. And a margin loan is usually a
(22:47):
higher interest rate because it's not secured against anything really
in comparison to property, which yeah, you might be able
to get a four or five percent interest rate, but
like the same doesn't happen in the margin lending world.
So I feel like I'm yabbering on a bit. Essentially,
one's a little bit more risky than the other. But
a lot of financial advisors might recommend if you want
to invest in the share market, and maybe you've got
(23:09):
let's say fifty thousand dollars in your offset account, they
might go, well, why don't we get fifty thousand dollars
out of your mortgage? Leave your fifty thousand dollars in
your offset account, but will take out a further fifty
thousand dollars in loans on your mortgage, So just like
take some equity, invest that and if things happen in
the market moves, we can use some of that offset
(23:29):
money to top it up, like we're not going to
be hamstrung. And that's where it might work really well.
And a lot of young people have started doing that
in saying that that is risky. Yes, it is more
tax effective, but at what tax level are you at
for it to be super effective? If that makes sense,
So it has to work with your strategy. Is it
(23:49):
a terrible idea?
Speaker 1 (23:51):
No?
Speaker 4 (23:51):
We actually recently or I actually recently recorded a money
diary with a diarist who has a leveraged portfolio where
they've taken equity out of their property invested it in
the share market, and they're doing it relatively, I would
say aggressively because they took seventy thousand dollars out chucked
that in the share market and they're planning on doing
that again. So I'm going to put the link to
that episode in the show notes because it is a
(24:13):
really good insight. But I would look into that, and
I would also just be doing a lot of research
into the type of gearing product you're using or if
it's from your mortgage. And honestly, I know there's a
lot of research that you want to do. But sit
down your advisor and say, why this particular strategy for
us if we've never done this before, Like why are
you recommending this? Did you go to them and ask
(24:33):
about margin lending or did you say can you borrow
money to like do this? Is it in line with
your risk profile? Like I'd be pushing that back on
your financial advisor to give you as many tools and
resources as possible because they should be providing.
Speaker 2 (24:45):
Those, and you're going to do more research on that
when you borrow against your mortgage to invest.
Speaker 4 (24:49):
It's called debt recycling, right, it can be called debt
recycling just because you're using debt to be a little
bit more tax effective. And that, again is another very
valid strategy. Has to be structured properly. And the pickle
that I see a lot of people getting into is
they want to set these things up, but then they're
not cleaning their house at tax time and actually making
(25:09):
the most of these things. They're just like, oh, that's
a good thing, let's set it up, and then they
forget about it, and they don't actually have their finger
on the pulse, and we're not making the most of it.
So these things sound sexy until you realize there's a
little bit of work in the background that consistently needs
to happen to make that work. Got you, That's where
I mean, Yeah, would you like the juicy dilemma?
Speaker 5 (25:30):
Yes?
Speaker 4 (25:31):
All right? This week we got a DM and it
sounded literally exactly like this, you're ready, hije's on the money.
I find gifting really tricky these days. Most of my
friends and family just buy what they want when they
want it, so it's really hard to come up with
something meaningful. Recently, It was my sister's birthday, and when
I asked what she'd like, she suggested something over three
(25:51):
hundred dollars, which was way out of my budget. I
felt guilty then that I couldn't afford it, especially since
we just moved house and I'm saving up for maternity leave.
On top of that, So many people ask for gift cards,
which just feels kind of impersonal and be pointless if
we're just swapping them around With Christmas coming up, I'd
love to know how others deal with this. Do you
(26:11):
guys set a budget? Do you push back on expensive
gift requests? So do you just go with the flow?
Speaker 2 (26:16):
Interesting three dollars for a gift is you know, just
to expect someone to pay that is card?
Speaker 4 (26:21):
That's wild. That's wild to me. I couldn't imagine being
like just saying, oh, v bat Day's coming up. Was
there anything you wanted? And me go, yeah, Ninja Creamy.
Speaker 5 (26:29):
Well, yeah, brand new Dyson actually yeah, yeah, what It's insane.
Speaker 2 (26:34):
I just I think that there's not necessarily a set price.
I think that it's whatever feels good to you.
Speaker 4 (26:41):
I understand the gift card thing.
Speaker 2 (26:42):
Having now heard the dilemma, I'm so pro gift card, Like,
nothing makes me happier than a little make a gift
card or something like that. But because I think you
can then purchase what you want. It's a fun experience,
et cetera.
Speaker 4 (26:54):
But I do every money that you have to spend
at that location, don't transfer it to me, because that's
now my money and I have to be responsible with it. Yes,
I've got to pay a bill with it or something. Yeah, Yes,
I do think I understand.
Speaker 2 (27:05):
Like if it was Christmas time, for example, and I
got you a gift card for fifty dollars, you've got
me a gift card for fifty dollars, you go, well.
Speaker 4 (27:10):
Should we should have just kept it enough? Yes, So
I kind of.
Speaker 2 (27:14):
See that perspective on it. But I think, like more broadly,
I don't find gift cards to be in personal I
think especially if you pick a store or an experience
of going, you know the person loves. I think that's
great in terms of determining how much to spend on somebody,
I mean, how long is a piece of string. It
really comes down to what's in budget for you, because you.
Speaker 4 (27:32):
Need to spend a lot on Jess. Yeah, by the way,
budget for start planning now.
Speaker 2 (27:39):
No, no, but I just you know, you can look
at group gifts I think are a really great way
to keep costs down. But also like some of my
favorite gifts that I've ever gotten have been things that
have been made for me and didn't necessarily cost a
lot of money at all.
Speaker 4 (27:49):
Yes, I do not have the time.
Speaker 2 (27:51):
You will be getting a gift card, goodbye and away.
I think that there's not necessarily a right answer. I
think it's more about the expectation that's been put on you,
because I think a gift is given with love and
no expectation should be put on that at all. Like,
you don't have to get me a gift.
Speaker 3 (28:05):
For my birthday.
Speaker 2 (28:06):
You got me digit that's the most exciting the other
But if you've got me a handwritten card, I would
have been equally as excited, and.
Speaker 4 (28:13):
That I wouldn't have known. Yeah, I wouldn't have so
don't get me wrong, I appreciate that a lot. But
gifting is my love language. I think I've shared before
that I have a creepy list on my phone of
all these things that people have mentioned totally they want
or they're interested in, And like those comments are fleeting
(28:33):
so like, I wish I could divulge what's on Jess's
list right now, but I know those are things that
in passing she's been like that is so cool. I
would love that whatever. She's probably forgotten about half of those.
So when I come to Christmas time and I might go, Jess,
is there anything you want in particular, She's just gonna no,
I can't think of anything. So that list is saving
me because I know that that gift list like probably
(28:56):
rangers from I think about thirty dollars to a couple
of huns, just things that she wants. And I also
just I don't mind what it is. I'm just gonna
put it on the list. Like if Jess says, oh
I want this, you know, thousand dollars brand new diceent
Air rap, I'm gonna put it on my list because
it's gonna help inspire me for when I am gift giving.
(29:17):
So it gives me a theme of like, oh, Jess
has said over time that she wants these things, and
she wasn't asking for them. She was just in jest
going like, oh my god, I would love x YZ.
But keeping track of that is going to give me
a good insight as to like where I should start
looking if I'm looking for a gift at a different
price point. So Jess last air rap, she's mentioned that
she really wants the new one fantastic, but I don't
(29:39):
have that in budget. Maybe haircare is a good place
for me to start. Maybe I could go down the
route of like buying her a really nice hairbrush or something,
because clearly that's a line to her values. But it
still feels thoughtful, And I mean it's going to change
based on your personality. Some people are just not gift givers,
like I et my husband, and that's not a bad thing.
(30:00):
His love language is acts of service, so like come
my birthday, he will try to give me nice gifts,
and he absolutely does, but he's more about like I've
booked this nice dinner, or I've woken up early and
cleaned to the house and I've made pancakes and you're
going to have them in bed, and like all of
that stuff is his way of showing it. So it
doesn't I don't know. I think you have to understand
(30:20):
the person and their personality, yes, and what they like.
But yeah, the list I feel is very helpful because
it's not just about like, oh, I wrote a list
and now I've got a list of expensive stuff that's
not in much of for Jess. But sorry, Like if
we look at Jess's list, I can show you later
back there's like four hair care things on there totally,
So like that gives me a really good insight as
(30:41):
to maybe what she's interested in at the moment. Yeah,
so that even if I'm getting her something that she
hasn't asked for because I'm looking at a budget, it's
really on brand for what she's currently engaging in totally.
Speaker 5 (30:52):
And if all else fails, I like to check people's
Pinterest if they have one, I like to check you
really follow on Instagram, like Baby's clever.
Speaker 3 (31:00):
Maybe they follow like Fentin and Fentin.
Speaker 5 (31:02):
I cannot afford anything from there, but but the vibe,
the vibes, like maybe even like a cutlery set, like
sometimes they have really nice place mats y like twenty bucks.
Speaker 4 (31:10):
So just follow see who you are way smarter than me.
I just am a stalker.
Speaker 5 (31:14):
You got a stalk and then you end up but
it does take hours because you do end up in
like real rabbit holes, you know, Like, so see who
they follow, and also what they engage content they engage in.
Because sometimes I follow people that I would not like anymore,
you know what I mean, like like styles I wouldn't
like anymore. So I guess like do that if you
have the time. Some people aren't super like creativity doesn't
like excite them, and that's completely fine. But what you
(31:36):
can do is, like say someone's really stressed, you can
just make them like a hamper that with like written
handwritten things.
Speaker 3 (31:41):
Like here is some salts. Do this first step one,
have a bath, step two, make tea. But you're so.
Speaker 4 (31:48):
Thoughtful, like you have acts of service and gift giving
as a love language or mashed together.
Speaker 5 (31:53):
It's a real it's a real combination and end up
spending so much money.
Speaker 4 (31:57):
But so you can just do something like that.
Speaker 5 (31:59):
Where's like handwritten hampers that are just like yeah, yes,
have a self careno, do this first, like a mind
map of sorts, you know, and like I would love
talking through the process. And then it's like so cheap salts,
tea bags, that's all you need to spend. The rest
is handwritten, you know, I think, like something that's like
curated for them. Yeah, and it can be a gift
(32:21):
card especially if it's something that is like niche. You
say you've you've seen they follow Florian Florian homewares on
wrath down Stree.
Speaker 4 (32:30):
I don't.
Speaker 3 (32:30):
If you guys know.
Speaker 5 (32:32):
Really great homewares, you get a gift card for something
like that and they're like, oh, this is personal.
Speaker 2 (32:37):
You know.
Speaker 5 (32:38):
It's not as impersonal as like a Visa gift card
or something, even though those are really cool. It's something
very very.
Speaker 4 (32:43):
Much gift card.
Speaker 5 (32:45):
I love it. I love I love a gift card.
Speaker 4 (32:49):
If you're worried about the persons what I give every
Christmas to all our team members, because I'm like, I do, sorry,
what do we like better at Christmas than a gift cash?
Absolutely so?
Speaker 5 (32:59):
And also are you going to spend it on something
that you want to spend it on? If it was
just cash, you're like you would do something.
Speaker 4 (33:04):
Don't get me wrong. I know Jess loves a mecha
gift card, but like coming into Christmas, I'm like, here
is a Visa gift card. I feel like I love
it from an employer as well. It's very different than
me gifting friends. So like the way I give Jess
on her birthday and stuff is because we're friends, I
really am her employer. But at Christmas, I'm like, well,
everyone gets a quality, we all get exactly the same thing.
(33:26):
I don't want to like do one thing for one
person and then have them thinking wow, I feel so
thought of, and then the next person being like, wow,
she doesn't know me at all. Like I just do
not want to set myself up for that. But also
I don't know this joke. Actually I do know my
most of my team's personal financial situations because of who
I am and what I do, but I also don't know,
(33:46):
and I don't want to guess. And sorry, visa gift
card might be taking some pressure off you buying some
Christmas gifts or chopping up the Christmas table or whatever,
or do what you want with it and spend it
on yourself. Absolutely, but just that idea that there's not
a lot of strings attached to that gift. There's no
like I have to spend it at Mecca. Yeah, but
instead of really, I spent a mecha gift card this
(34:07):
week and oh it felt so bad. Oh so Charlotte
Tilbury holiday palette that's just come out. I can't remember
what it's called, but it has the eye shadow It
has the bronzes and it has the blush all in
one little pink like rose goldie palette. And I was
looking at the one from last year and I really
wanted it, but I wasn't going to buy myself like
a holiday palette. But I had a gift card that
(34:30):
I've been hoarding in my wallet for so long, and
I was like, actually, I'm going to get the palette
and now I have it. It feels fancy.
Speaker 2 (34:37):
Yeah, And you were sparing money, and that's the benefit
or power of a gift card. I know.
Speaker 5 (34:41):
I also on one of the gift card trains, what
you know, but pread.
Speaker 4 (34:44):
Gift card, well, then be not pro gift card, all right.
So we did ask the community a couple of questions
before I so, well, what's your two cents? First, we
asked how do you manage gift giving for adults? Forty
six percent of you said, I just budget and I
limited per person, which I think is fair. Thirty percent
of people then said, we just do secret Santa style,
which I think is I kind of love that the
(35:06):
pressure has been taken off my friend group does that
is twenty two percent of people said, well, actually, coming
into Christmas, we only ever buy for the kids, and
then two percent of people it must be nice said
we just get whatever they ask for, no matter the budget. Oh,
I couldn't, Dams, I have a Charistmas wish list for you.
Speaker 2 (35:25):
Yes.
Speaker 4 (35:27):
So the next question we asked was, Jess, how do
we feel about gift cards? Thirty one percent of you
said it's fine if it's thoughtful, twenty eight percent of
you said love them so easy, twenty two percent of
you said no, they feel impersonal, and eighteen percent of
you said it's a pointless swap fest.
Speaker 2 (35:47):
I do understand that, Like I said, if it's like
everyone's doing it once, you're all giving the same amount
of money.
Speaker 4 (35:51):
But yeah, when we asked the community, I said, look, guys,
what's your two cents? And I feel like the community
has our backs. It's so funny sometimes I read through
these and it's just validating because they're all like in
the same headspace. First person said, I actually think it's
so wild for someone to ask for a gift that
costs more than hundred dollars. I completely agree, and I
was like, you're right, queen. Yeah. Next person said, this year,
(36:14):
I'm upfront and I'm just saying no, gifts like, not
for them, not for me. I'd rather have a meal
with them and actually spend quality time. Next person said,
our family now skips the presence. Instead we just do
a night away together. That's really fun. Someone said homemade
gifts are literally the best. I'd take a homemade treat
of any gift card, et cetera. What's your thing, homemade handmaid, No,
(36:35):
homemade handmaid or second hand is on my husband's side
of the family's like Christmas Secret Santa rules.
Speaker 3 (36:42):
That's very good.
Speaker 4 (36:43):
It's so fun too. I remember a couple of years
ago I found on Facebook marketplace somebody I think it
was like fifty bucks or something. They were selling a
kid's kitchen and it was fun. Like if you've been
listening for a while, you're reading this, you know this story.
But apology, but Facebook marketplace kids kitchen for my niece
and nephew. But it was like, the fancy one that
(37:06):
was from Pottery Barn would have been so expensive. But
when I got there, he's like, oh, and you can
have everything in it, so like the little pots, the
little pans, the veltgro freezing vegetables, like the little shopping basket. Everything.
And I was like are you sure anyway? Fifty bucks
best fiftyfty bucks I've ever spent. And I think they've
only just gotten rid of it because they're now a
lot older. Because it turns out this podcast is old,
(37:29):
but it lived in their playhouse for ages and they
they were obsessed, and that just barked so much joy
and the idea that I was giving new life to it. Yeah,
that's a great little way. I feel like, yes, definitely.
Speaker 1 (37:40):
So.
Speaker 4 (37:40):
Next person said I love gift cards when saving for
a big purchase. I'm like Jess, I really want a
kitchen aid, and I love knowing that everybody helped to
get me a gift I really wanted. Another person said
I always buy books. You can get something cheap but
also really meaningful and personal. Cheese on the Money is
a really good, really personal book for most people. So
(38:01):
if you're looking for a Christmas gift or property with
investing with money, yuh, any of them? I actually wrote
five books. I wrote five. That's crazy. I won't do
that again. Joke's on you. You'll probably try at some point. Anyway,
I have two more for you. Next person said, I
actually love giving restaurant gift cards, as they can be
really fun and personal, but they're very easy. And then
(38:21):
last person said, we actually all put in money for
food for Christmas instead, and then everybody wins and we
are all well fed, or different ways that people do
it to start the conversation with your family, Like it
doesn't just happen, Like it's not something that you go,
oh my god, all of a sudden, we're doing Homeman
hammam or secondhand, like you have to kind of be
(38:42):
like in group chat, drop a few hints like hey,
I was listening to a pod and this seemed like
a really good way for us all to just like
make Christmas a lot less stressful. So I would lead
with that as opposed to like, oh, I want to
make Christmas cheaper because some people don't take it the
same way that you or I would like, Oh, it's
a lot less stressful for only buying one gift and
then someone gets a present that's worth a bit more.
(39:03):
There's more value, more time and energy put into it,
and what a cool concept. So I think that's probably
where we should leave it this week.
Speaker 3 (39:11):
Yeah, let's gorgeous.
Speaker 4 (39:12):
Well, we'll see you bright and early on Monday morning
for a money dary. But till then have the best
weekend and guys do not forget. Ms jesscot Richie is
the proud owner of a block of plans next Guys,
see you Guys by Guys. The ad buy shared on
(39:32):
She's on the Money is general in nature and does
not consider your individual circumstances. She's on the Money exists
purely for educational purposes and should not be relied upon
to make an investment or financial decision. If you do
choose to buy a financial product, read the PDS TMD
and obtain appropriate financial.
Speaker 3 (39:50):
Advice tailored towards your needs.
Speaker 4 (39:52):
Victoria Divine and She's on the Money are authorized representatives
of money.
Speaker 3 (39:57):
Sheper Pty Ltd
Speaker 4 (39:58):
ABN three two one six four nine two seven seven
zero eight a f s L four five one two
eight nine
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