June 17, 2025 • 39 mins
Feel like your 2025 money goals ghosted you around February? You’re not alone... and babe, it’s time for a financial glow-up. In this episode, we’re using EOFY energy to reboot your budget, clean up your spending habits, and get your money working for you (not the other way around). We’re talking five fast, feel-good steps to sort your finances before June 30 hits, and no, it’s not about cancelling every brunch or surviving on rice and regrets.
In this episode:
💅 “Keep, Cut, Switch”: the spicy budgeting game your bank account needs
💅 How to get a better deal on your bills without speaking to a single soul (yes please)
💅 A supercharged tip your retirement fund will write you a thank-you note for
💅 The sneaky super hack that could fast-track your house deposit (and feels a lot like legal money laundering 👀)
💅 Why your spending habits might actually be... feelings in disguise
Ready to feel calm, in control and like an actual financial adult by Christmas? Let’s go.
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Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements.
The advice shared on 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 advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My name's Sasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t glennyan Ganya, Niana,
kaka ya Ya bin Ahaka Nian our gay In Nimbina,
yakarum jar Dominyama, Domaga Ithawakawaman, damon Imlan bomber bang Gadabomba
in and now in wakah ghana on yak rum jar Watnadaa. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank I acknowledge and respect the Abiginal 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 (00:44):
She's on the Money.
Speaker 3 (00:46):
She's on the Money. Hello and welcome to She's on
(01:09):
the Money, the podcast that can't Believe the end of
the financial year is all I know.
Speaker 2 (01:14):
I don't want to know about it.
Speaker 3 (01:16):
If you're feeling the same, don't worry. You're not alone.
One minute it was all New Year, New me, and
next you're wondering, where's all your money and motivation actually gone.
Speaker 2 (01:25):
I don't know, jessicap, but I need hell.
Speaker 3 (01:27):
It disappeared, and no, I'm not besited. I'm Jessica Ricky.
Speaker 2 (01:31):
I have been duped. Surprise.
Speaker 3 (01:33):
I'm filling in for Beck boshes away, and obviously I'm
not doing this alone. Victoria Devine is here with me,
ready to keep its accountable and I'm sure deliver a
bit of tough love if we need it.
Speaker 4 (01:42):
Yeah. Absolutely, I'm the Queen of budding, and so I
don't think it was a surprise that I was here
during your intro. But I feel like everyone in our community,
including you and I, Jess, like we're not just going
oh you guys, is like us too. We love to
set big, really shiny goals at the start of the year.
But if we've learned anything from our past episodes that
a year is a really long time to stay motivated,
(02:03):
and like life happens, plans change, and by like February,
I don't know, it feels like most of those resolutions
have already gone out the window and I've just gone back.
Speaker 2 (02:13):
To my old habits.
Speaker 4 (02:14):
But just like a halftime in sport, Jess, I guess
this is where you pause and then we have a
look at our strategy and we reassess, and then we
head back out with a stronger and better game plan.
Speaker 3 (02:24):
You're the coach here to give us a rousing.
Speaker 2 (02:27):
The coach.
Speaker 4 (02:28):
I don't know if you'd want me to coach anything,
because you'd be like, oh, this is really hard, and
I'd be like, baby, you don't have to do that,
Like that's the best thing about sport, you don't have
to do them. But first, I guess when putting this
episode together, I really wanted you to remember to look
at your expenses and you're spending from the last six months,
(02:48):
and like, I know that this might not be the
most fun way to.
Speaker 2 (02:51):
Spend your time.
Speaker 4 (02:53):
But if you're in a country like Australia who follows
the end of financial year, which is on June thirty
a happy birthday to me, there is also some serious
benefit in getting this done before the end of financial year.
Speaker 2 (03:05):
Also, like New Year, knew me, Like first of.
Speaker 4 (03:09):
July can be like your new financial year, but like
you don't have to start then because you've already made
the plan already.
Speaker 2 (03:14):
Yeah, does that make sense? And like the sales are everywhere.
Speaker 4 (03:18):
I feel like I've already started seeing them ramp up,
which is absolutely wild. I saw someone on social media
the other day saying, oh, e f y sales coming soon, and.
Speaker 2 (03:26):
I was like, guys, what the heck?
Speaker 4 (03:29):
But if we're smart, we can actually use this coming
season to our advantage instead of just getting swept up
in the marketing height, which I think a lot of
us do every single year. And I guess another reason
we look at six months of spending data is because
I guess that shows you the real cumulative cost of
your habits. So those sneaky little expenses that don't feel
(03:51):
like a big deal. In a moment, you realize, oh,
that fifty dollars on Uber eats feels kind of harmless
right now. But then we zoom out, You've already spent
thirteen hundred dollars in the last six months.
Speaker 2 (04:01):
Yeah, do you know what I mean?
Speaker 4 (04:02):
Like, yeah, I think you and I go, oh, fifty
bucks on a new top. Like I feel like, in
this economy, fifty dollars on your new top's a good deal,
But like, if you're doing that every single week, that's
thirteen hundred dollars, like that total, and having that cost
be maybe a little bit confronting can actually help you
realize that maybe that spending wasn't a part of your
(04:23):
goals or values, and like you don't have to continue
that way. We can, I guess, reallocate that money to
something that is a little bit more fun, but also
something more in line with our values, like maybe a
holiday fund or paying off your credit card debt that's
really stressing you out. And I guess once you have
all your expenses together, I want to like play a
game with it.
Speaker 2 (04:44):
It's like shoot Mary Kill. Yeah, shoot Mary.
Speaker 3 (04:47):
Kill, very aggressive. I played kiss Mary Kill.
Speaker 2 (04:49):
Oh do you yeah?
Speaker 4 (04:51):
Oh well, maybe it's a little bit different in our house.
We're going to play that with our money, but we're
going to like reframe it a little bit. It's going
to be keep, cut and switch. That's not as good,
not as sexy said. If you want to use and
shoot Marry kill, you can. I feel like it's a
little bit more dramatic, but like keep, that's probably Marry
if you're playing that version of the game. Keep is
(05:13):
the things that I think genuinely bring value into your life.
These are the things think of it as your like
financial non negotiables, Like girl, we're paying rent, like I'm
sorry you have to pay you your utilities. Like if
you do go to the gym regularly and you love
your gym membership, like that goes in that bucket, but
only if you're actually using it. Don't try and gaslate
yourself into oh, like maybe I'll keep it because in
(05:35):
this new financial year, I'll use it. Don't line to yourself.
Be ruthless, be ruthless. But like we're keeping the things
that we want to keep in our lives, we want
to marry, then cut that's kill. We are going to
cut the stuff that isn't serving us anymore, those little
expenses that we were talking about earlier that just don't
align with our values. Like if you looked at this
(05:57):
jests and said, I'm spending fifty bucks on Uber eats
every single week, I love it.
Speaker 2 (06:03):
Pop off. Yeah, Like thirteen hundred dollars on Uber.
Speaker 4 (06:06):
Eats to you might be absolutely worth it, because like
you're telling me that every I don't know, I'm going
to make this up. Every single Friday night, you and
your partner get a pizza on Uber eats and you
watch one of your favorite movies and you have the
best date night of your entire Life God thus worth
thirteen hundred bucks over six months. But if you're like, oh,
because they didn't want to cook, and I couldn't be
bothered getting up and walking to the freezer to see
(06:28):
if there was any chicken nuggets, So we ordered chicken nuggets.
Speaker 2 (06:33):
Do you know what I mean? Like, that's clearly not
serving you, So we want to cut those things.
Speaker 4 (06:37):
They might be subscriptions that you forgot about, all the
healthy insurance extras that you don't even know that you're
currently paying for because you need to review them. And
then we've got switch, which I think is shoot because
you might survive rush. But like there's switch and this
is where you shop around and negotiate a better deal
on things like your energy bills, your health insurance, your
(06:58):
phone plan, and basically anywhere that you are paying. The
infamous loyalty tax we did a whole episode, Jess, was
that you and I back in the day. I feel
like we did the loyalty tax episode together.
Speaker 3 (07:09):
I've done one I don't remember.
Speaker 4 (07:11):
Just key in loyalty Tax. She's on the money, and
the episodes we've done on that will come up. But
like that's where it's shoot, getting the gun out if
you don't get us a better deal, leaving, that's very leaving,
But like we're going to switch, Like I am not
being held hostage by loyalty tax I don't care if
you've been with a company you for like, oh yeah,
(07:33):
but they sent me their premiums and sent congrats for
being a member for nine years.
Speaker 3 (07:37):
What are you really getting?
Speaker 2 (07:38):
What are you getting out of that?
Speaker 3 (07:39):
Yeah?
Speaker 2 (07:40):
Is it a discount? Because if it's not, I don't
want it.
Speaker 3 (07:42):
Amen.
Speaker 2 (07:43):
The best part is at the end of the financial year.
I think this is the best time to do with it.
Speaker 4 (07:48):
This is when all the private health insurance companies they
go fishing because the medicare surcharged levy that is going
to come into effect by June thirty, which means if
you earn over a certain amount and you don't have
private health insurance, you have to pay more. And they
know that you are going to scramble to get health insurance.
So if you already have it, why not use it
as the best time to get a better deal. Be
like you are offering this to other people, I would
(08:09):
like that deal, And I mean this is when lots
of different providers are throwing around. I would say juicy benefits,
like you might get one month free of cover, or
a gift card or something for joining up, or even
just a discount on the deal that you already had,
like this is a good deal, yess.
Speaker 3 (08:25):
Yeah, absolutely. And another really great way to make the
most of end of financial year is to take a
look at what is actually already on your keyp list
and see if there's anything that's going on sale.
Speaker 2 (08:33):
So can rent go on sale? O? Girl can dream? Yeah?
Speaker 4 (08:36):
Can you imagine if you like able to negotiate and
you're like, landlord is marketing your rent?
Speaker 3 (08:41):
Ah, I wish I'd be going to bat for that.
I'll tell you what. But if there's a software subscription
that you rely on, check if they're running an end
of financial year discount, or maybe if you're happy with
your current insurance provider, like you are saying, that's great,
but can you take them a competitors price and see
if you can, you know, say, hey, give it to me,
put the gun to the head. I'm gonna walk somewhere else.
Speaker 4 (09:01):
But like it kind of makes sense, Like I'm so sorry,
but we're in the cost of living crisis and my
job is to help you financially, Like even if you
threaten to quit, like this is a little bit unhinged,
but like even if you're like I really like this,
like software that I used, and I'm not going to
name names because like we don't want to, but Jess,
you and I know well that there is one very
popular software. If you go through their settings and you
(09:24):
go cancel my account, you're just toying with the idea.
You're just having a look to see what happens if
you hit cancel my account, because.
Speaker 2 (09:30):
You always get it back.
Speaker 4 (09:32):
They go, oh, you sure you want to leave, We'll
give you a fifty percent discount, and go, oh, what
a coincidence.
Speaker 3 (09:37):
I guess I'll stay.
Speaker 4 (09:38):
Yes, I'll stay to look around and even google the
software that you use and be like, how to get
a discount on software xyz because sometimes there are little
loopholes like threatening to cancel, and they're like, oh, well,
here's our retention strategy. You didn't even have to call
anyone on the phone, and you saved fifty percent on
your very expensive software that edit things.
Speaker 3 (10:00):
One hundred percent, say less. And it's about keeping what
you love but making sure you're getting the best possible deal.
Speaker 2 (10:05):
I think that is a good deal. Like again, shoot,
and I'm.
Speaker 3 (10:10):
Looking, I think we've got like some real aggression problems
in this team.
Speaker 2 (10:13):
Well I do, because I'm just like, why am I
paying so much for software?
Speaker 4 (10:16):
Anyway, that's beside the point, Like this isn't a green
light though, jes just to go rogue with your credit card.
But if you know that you're going to like need
things that are work related expenses, so like equipment, maybe
you've been going, oh, I work for myself and I
need a new laptop. Or even if you like regularly
buy things like skincare or household staples, I reckon the
(10:39):
end of financial year sales are a literal perfect time
to buy them at a discount, stock up for the
upcoming year exactly, Like look at those expenses and be like, okay, cool,
Like what is one thing that I bought over that
last six months? Maybe you do buy two of your
favorite moisturizer while that website has a forty percent discount
because you're like, I know in the last six months
(10:59):
I've used to and they're not going to go off
in that time. I'll just buy two so it gets
me through to the end of the year. Maybe I'll
stuck up again at Christmas. Yeah, like when Christmas sales
are on.
Speaker 3 (11:08):
What are some other end of financial year reminders people
should keep in mind.
Speaker 2 (11:10):
I've written down a couple, so bear with me.
Speaker 4 (11:12):
But another thing that future you is definitely going to
thank you for is topping up your super jessic Ici.
We want to do that before June thirty though, so
that we can take advantage of concessional which is before tax,
and non concessional, which is after tax contribution caps if
you can. So those have moved now, and I don't
think most people in our community can max out there
(11:33):
super like, just because I don't want you to think, oh,
Victoria is being unrealistic, Like the cap is thirty thousand dollars.
I'm not going to contribute thirty thousand dollars to my super.
Speaker 2 (11:42):
This year, like go, it's just a cap.
Speaker 4 (11:45):
Yeah, even an extra few hundred dollars or fifty bucks
to your super could be really good. And if it's
come from your bank account, come tax time, you will
get a refund on the tax that you already paid, because,
for example, the supernuation tax environment is fifteen percent. But
most people in our community, I would say have an
(12:05):
average tax rate of thirty percent. That means a fifteen
percent return on the money that you deposited.
Speaker 3 (12:10):
That's pretty appealing.
Speaker 2 (12:11):
That's pretty appealing.
Speaker 4 (12:12):
And for a lot of us, I know we're asking
questions like, oh, my super fuels behind, or I want
to get a little bit ahead, like small steps in
the right direction, Like we don't need to have thirty
thousand dollars to max out our super Like a few
dollars here and there over the long term could actually
compound and put future you when future you is retiring
in the.
Speaker 2 (12:31):
Best possible position.
Speaker 3 (12:32):
And we love that we do.
Speaker 4 (12:33):
I feel like that's a win win, and Jess I
would say, this is something that you want to look
at right now, like not the twenty ninth of June,
because one thing that a lot of people do not
realize is that the contributions have to clear, so like
they have to hit your superanuation account before the end
of financial year to count. You can't just go, oh,
(12:54):
but I transferred it on the twenty ninth of June,
But then maybe your superannuation account doesn't have OSCO and
it didn't hit like July second.
Speaker 2 (13:01):
Sorry, it falls into the new and.
Speaker 3 (13:03):
A lot of people start doing them at end of
financial ye. I know, my super has a notification that
pops up usually in the app that says, hey, like,
if you're planning on making contributions to it two weeks
prior to allow for process.
Speaker 4 (13:13):
You just want to make sure that, like you're dotting
all your eyes and crossing all your te's, so like
if you did it so that you could reap the
tax benefits, you actually can. And I think that that's
important because not alsubanuation funds have the easiest processing systems,
so it's easy for you to transfer, but then their
processing is like maybe a bit more manual, And that
(13:34):
doesn't mean they're bad, It just means it takes a
little bit longer totally.
Speaker 3 (13:37):
And that's applicable to anyone who wants to use the
first home Super Savior scheme as well.
Speaker 4 (13:41):
So the first time Super Saviors scheme. I was explaining
this to a friend the other night, maybe maybe I'd
had a few ones, and I was like, girl, it
is the closest thing to money laundering that you can
get to in Australia because you can put your cash
in and then you can take it out and you
can get a refund.
Speaker 2 (13:57):
Let me love, you can get a lower tax, that's right.
Speaker 4 (14:00):
And they were like, Victoria, you all right, And I
was like, girl, if you are buying your first home
and you're not using this system even like to put
fifteen granding because you're planning on buying really soon and
you actually can't use it over the long term, is
that not free money?
Speaker 2 (14:14):
Jes Totally yeah, but it is free money.
Speaker 4 (14:17):
And I explain, like again, I told you guys before
that the superannuation tax environment is fifteen percent and most
of us are on a marginal tax rate of thirty percent.
If you're higher than that, like if you're even closer,
like the more money you earn better the first home
super sabor scheme is, and like this is one of
the places where you go, you know, the rich really
do keep getting richer because you'll get fifteen percent tax back, Jess,
(14:41):
And they will too, but because they're paying more tax,
they get more of a discount. So it's kind of
like instant returns on your money. And the benefit is
if you start saving for your first home now, but
you're like, v it's going to take forever, like I'm not,
and Jess, you would know this well, does not take
a year or two years to save for your first
time home anymore, which I think the de Lulu boomers
(15:02):
think it does, but like it can take you ten years,
but you actually get the returns on that money that
was invested as well to go towards your first home.
So it's not just those tax benefits, but it's also
the investment returns over that period of time.
Speaker 2 (15:15):
Is that not super sexy?
Speaker 3 (15:17):
It's amazing.
Speaker 2 (15:18):
It's so good.
Speaker 3 (15:19):
And if you are thinking about buying soon, your contribution
cap we've spoken about this before, but it's fifteen thousand
per financial Yeah, so.
Speaker 2 (15:25):
You can do fifty thousand dollars over the long term.
Speaker 3 (15:27):
Yes, So you could drop fifteen thousand in now and
then come July first you can put another fifteen you
don't even need me, and then all of a sudden,
there's thirty thousand ready to go.
Speaker 4 (15:37):
Like, if you are planning on buying this year, that's
thirty thousand dollars that you can pop through that scheme.
I mean, obviously this isn't personal advice, and if it
works for you, fantastic. The actual best thing that you
could do if you're thinking about the first home, super
savor scheme, Jess, and I feel like I rant about
this a lot when we talk about super is just
call your super fund because Australian super versus like host plus,
(16:00):
they're going to have like a slightly different process, Like
it might just be different release forms or ways that
you contributed.
Speaker 2 (16:06):
But just pick up the phone because you are already.
Speaker 4 (16:09):
Paying subernuation fees to get this advice, so it's technically
free because you've already paid for it. It's how I
see holidays, like if I already prepaid the holiday and
then it's been a few months before I went on
the holiday, the holiday was free. Yeah, girl, math, But
pick up the phone and have a chat with them
and be like, hey, really want to make the most
of this. They can give you financial advice on that
(16:29):
I can't. But they could say, Okay, yes, your contribution
strategy looks like this to cap out this system and
this is going to work this way.
Speaker 2 (16:36):
How good is that?
Speaker 3 (16:37):
We love that free advice?
Speaker 4 (16:38):
Yes?
Speaker 3 (16:38):
Please? Alrighty, what is next on your list?
Speaker 2 (16:41):
Okay?
Speaker 4 (16:42):
So I feel like we've crunched the numbers and we
have faced what I believe are the cold hard facts,
but it's now time to switch gears a little bit more. Yes,
we're going to get reflective. No more shoot Mary kill.
We're not going to play that game. After all, money
isn't about mouths or guns. It's actually about how it
makes you feel. And spoiler those feelings, Yeah, they're probably
(17:03):
driving all the decisions that you make. Jess.
Speaker 2 (17:06):
Oh, but you knew that already.
Speaker 4 (17:08):
You've been on this show for long enough to know
that money is inherently emotional, right, Yeah, No, and I
think that reviewing the way that you feel about things
is probably a very great way to expose why you have.
Speaker 3 (17:18):
Some of those habits that maybe you wish that you
did it exactly.
Speaker 4 (17:22):
So let's go to a really quick break so that
we can prep for getting a little bit emotional. All right,
we are back, and as Jess and I promised, so
we are going to get a little bit reflective. We're
going to talk about our emotions because before we can
plan where we're going, you actually need to fully comprehend
where you've been.
Speaker 2 (17:43):
Like it's confronting.
Speaker 4 (17:44):
It can be hard understanding why you feel things about money,
or why you maybe don't feel like you've caught up
to your friends, or why you're so good at comparison
and just doesn't seem to be good at comparison, you know.
But like, reflection is so important because for me, it's
not about beating yourself up or like trying to point
things out about yourself that you know aren't so good,
(18:06):
because I don't want you to fall into a guilt spiral.
It's actually about awareness and creating consistent and very clear
awareness because real reflection is going to give you clarity,
clarity on so many things, so what you're currently doing,
what you actually want in.
Speaker 2 (18:23):
Life, and what that's going to look like.
Speaker 4 (18:26):
When you know what's worked and what hasn't, and how
you actually feel about your money, then you're in this
really powerful position to be more empowered and be more
intentional towards the decisions that you're making, and make decisions
that you're like, nah, this is absolutely what I want
to do, Like this is how I want to do it.
Speaker 2 (18:44):
And like Jess, we know that you are in.
Speaker 4 (18:47):
The market for buying a property at some point, but
like I can always guarantee you were not able to
save a house deposit without being really clear that that
was a goal that you wanted, without being really clear
about your budget and what you did and didn't want
to spend like you are probably one of the most
intentional spenders I know. But do you think that's because
of your values and like understanding them or do you
(19:08):
think you're just really good at money?
Speaker 3 (19:10):
No, I think it's definitely Like I'm a very goal
oriented person, so it's when I have eyes on the price,
it's really simple for me to go, Okay, well, you know,
I can spend that fifty dollars a week or thirteen
hundred dollars over six months on Uber Eats, or I
can you know, have that money to put towards a
house deposit. And so for me, it's really easy to
separate that and having a good idea of where I'm
going is something that for me personally, I find really
(19:33):
drives those decisions and makes me stup and go, okay,
well would I rather X or Y?
Speaker 2 (19:37):
Yeah?
Speaker 4 (19:38):
And you're a fashion galie like you and I consistently
bond over fashion beauty, and I'm always like, oh, where's
that top from? Do you think that you've sacrificed a
lot about the lifestyle that you enjoy to get ours
to posit? Yeah?
Speaker 3 (19:50):
I think there's also just ways to be smart like
I one in, one out is a big rule for me.
You know, I love to resell my clothing, whether it's
on deepop or whether it's at clothing racks. I think
there are often ways to find compromises to do the
things that you want, Like if you like going out
to dinner, can you use one of those apps to
do the fifty percent off dinners at an early or
late session. I think again, like knowing what's important, you
(20:12):
can normally find ways to still uphold them. Maybe it's
like a little bit less convenient, like I'm not wearing
the newest, latest style. I'm often because I'm shopping secondhand
or I'm waiting for it to go on sale.
Speaker 4 (20:23):
Nobody would know, Jess, you look shic all the time.
Not one person has ever been like, oh, Jess, where's
last season?
Speaker 3 (20:29):
And like anybody who cares. But I think it's sometimes
letting go of the culture of needing things immediately, Like
there's that thing of like you see something, oh, I
can click somebody's link and have it straight away and
it's at my house in two days. Getting rid of
the need for that and finding like alternate ways to
do things means you can still not have to sacrifice completely.
Speaker 4 (20:49):
Yeah, And I think it's important because there are going
to be so many people listening to this who are like, oh,
it's Jess, Like we know she's on Friday episodes, but
like we're maybe new to the community, and when you
hear just talking about money, you're like, oh, so easy
for her, She's so good at it, Jess. When you
started at she's on the money, I believe you had
just gotten out of a whole heap of credit card
(21:10):
debt I had, So you kind of started from scratch,
like you weren't someone who was like, oh, I've just
always been kind of good at money. No, I don't
understand those people. Just for the record, like if you are,
I'm just envious, Like this is just my jealousy showing through.
I think it's important to also preface that you didn't
just always be good at money, right.
Speaker 3 (21:30):
No, not at all. I listened to the show before
I were it here, and that was what taught me. Remember, yeah,
I'm an o G Season one girly and so I, yeah,
I had a lot of credit card debt. I think
at its peak, I had like eight thousand plus dollars.
Speaker 2 (21:44):
That would have been so stressful across your credit cards.
Speaker 3 (21:46):
And it was a lot, and you know, I paid
it all off and I used every dollar pretty much
that I had to pay it off. And I was like, okay,
well now I need to save an emergency fund and okay,
I can start saving a house.
Speaker 4 (21:55):
Was it?
Speaker 3 (21:55):
And it's been well, I'm this is my fifth year
here and in that time, I've got a six figure
house to possible.
Speaker 2 (22:01):
Ah, that's so sexy. Yeah, and you've been on overseas trips.
Speaker 4 (22:06):
You are always still spending on like fashion and enjoying life,
Like I swear you're at brunch every second weekend, but
I watch you on socials.
Speaker 3 (22:14):
Yeah, I feel like I still live a life that
I'm really happy to you. And you know, I don't
feel like I'm overwhelmingly missing so proud of you.
Speaker 2 (22:22):
That is so exciting.
Speaker 4 (22:23):
But I think that when we aren't, you know, prioritizing things,
and we aren't clear on our goals and what we
want to achieve, and we don't have the tools that
we deserve to get out of it, we can often
fall into like sneaky little habits that like kind of
self sabotage ourselves. Like I remember when I was getting
out of debt. Like there would be periods of time
where I'm like, I'm so motivated, I'm going to smash
this out, and then.
Speaker 2 (22:44):
I'd be like, why am I bothering?
Speaker 4 (22:46):
Yeah, like pull more money on my credit card, and
it became like a little cycle that I then have
to break again, and like, you can't just pull yourself out.
But I think that if you're ignoring your bank balance
and you don't know how much is in there, or
you don't know exact debt numbers, or you you know,
you're not really sure when you're next after pay amount
is coming out, like pull your head out of the
sand and just know the numbers. Because knowledge is power.
(23:09):
Doesn't mean that you're immediately in a better position. It
doesn't mean that you're immediately able to get out of
that debt, which I mean we all wish, but it
does mean that you're better prepared for it and it's
not going to take you by surprise. I think that
self sabotage is a massive part of staying in debt
because we kind of just have our heads in the
sand and we're like, oh, like you know, you don't
(23:31):
get into eight thousand dollars worth of credit card debt
by getting into the first thousand and thinking, well.
Speaker 2 (23:35):
That was fun.
Speaker 4 (23:35):
I'd love some more debt, right, Yeah, you do it
because you're like, I'm just going to pretend it's not there,
and I know that I haven't maxed this out yet,
like you just keep rolling.
Speaker 2 (23:45):
So I think it's really important.
Speaker 4 (23:46):
To do that.
Speaker 3 (23:47):
And six months is a really good amount of time,
I feel like to set yourself new goals, like it
feels sometimes thinking a year ahead can be overwhelming when
you're already in that mindset. So can you give us
some ideas what can we do and sit down right
now to prep for the next six months. In terms
of reflecting a.
Speaker 2 (24:02):
Little bit, I've written a list.
Speaker 3 (24:03):
I'll get it.
Speaker 4 (24:04):
We're gonna journal where I love a list. I'm an
ADHD girly through and through. So my entire note section
is lists. Yeah doesn't mean I remember them, but I
have written another one for this episode. So we are
going to get a journal or maybe you like I
don't journal v We'll just take a quiet moment and
ask yourself these questions.
Speaker 2 (24:20):
So the first is what were your three biggest money
wins this year?
Speaker 4 (24:25):
Like, what were your three biggest financial wins big or
small doesn't have to like be something that other people
would look at, Like it can just be for you.
But like maybe you finally started prioritizing an emergency fund
and like maybe there's not heaps in there, but like
it exists. Maybe you negotiated a better salary or even
just survived without dipping into your savings.
Speaker 2 (24:48):
Like wins are wins.
Speaker 4 (24:50):
Then I want you to be real with yourself and ask, well,
what financial habit so over the last six months have
kind of slipped. We're all guilty of this, right, Like
we're all guilty, I would say, of a little bit
of convenience spending, a little bit of who cares? Like
this price is gone up, I'm not going to look
for a better deal. Like I want you to be honest.
(25:10):
Did your meal prepping did it disappear by February? Like
would be like I'm going to be a meal prepping queen.
I've watched all these meal prepping tiktoks and then all
of a sudden, you're like, meal prepping is not for me.
Speaker 3 (25:21):
Bought all the containers Yarrell in the drawer?
Speaker 2 (25:24):
Yep, did you go?
Speaker 4 (25:25):
You know what I'm going to buy like only a
coffee out once we're I'm going to make it at home,
and then you're like, look at your wallet and you
have five different coffee loyalty cuts, Like, what's going on, babe,
what's happening there?
Speaker 2 (25:36):
Like it's not about shame.
Speaker 4 (25:37):
I think that we can look at these things and
be like, oh, this is just a pattern, like what's
going on here? More often than not, it's just convenience. Yeah,
And it's maybe something that you're like, I didn't realize
how much I valued that. I do want to make
a little bit more space in my budget so that
I can continue to enjoy that because like I tried
to cut it out, I don't want to or on
the flip side, you go, I really need to tighten
(25:58):
my belt, Like I really need to just not to
do that anymore. And then the big question, the last
question is how are you actually feeling about money right now?
Like I recorded an episode before this episode, and it
was like a solo episode because I just think that
life and money and life is just it's so heavy
right now. I feel like with everything going on economically
(26:20):
and then everything going on financially, like it feels like
life is expensive.
Speaker 2 (26:25):
It doesn't matter who you are.
Speaker 4 (26:26):
And I'm not saying that, Oh, Victoria feels like life's expensive,
Like how privileged?
Speaker 2 (26:31):
What a twitt? It does?
Speaker 3 (26:32):
Though?
Speaker 4 (26:33):
Life was like and like every single time I go
to the supermarket, I find it a privilege that I
can afford to pay for my groceries. But I'm often
mind boggled at how much I'm spending, and I'm like.
Speaker 2 (26:43):
What is this like? And I'm you know, yes, let's
be honest, I have the money, but.
Speaker 4 (26:49):
That doesn't mean that I want to, you know, blow
the budgets that I've set for myself just purely because
I can. Yeah, Like I I'm often mind boggled at
how much things are and I just go, how do people.
Speaker 2 (27:01):
Who aren't business owners?
Speaker 4 (27:03):
Like?
Speaker 2 (27:03):
How do we get by?
Speaker 4 (27:04):
And my husband and I were talking about this the
other night, and I was like, Steve, I reckon that
one hundred thousand dollars, which used to be to me
like one day I'm going to earn one hundred grand
like that was like my when I was twenty one,
like that was my big dog goal. I reckon, one
hundred thousand is the new sixty thousand, like, and that
I think is pretty astronomical to say, but I would
(27:27):
say that, you know, ten years ago more sadly, when
I entered the workforce, it's more than that.
Speaker 2 (27:32):
It was probably more than fifteen years.
Speaker 4 (27:34):
Right, But when I officially enter the workforce, I remember,
sixty thousand dollar income was really cushy, Like it was
a good income. You could pay your rent, you could
save a bit, you could like still have a good
lifestyle if you're earning sixty thousand dollars now, like you
are budgeting, you are cutting things like I can alwayst
guarantee a lot of people in those situations, like well,
I just don't have the capacity to say for a
(27:55):
home right now. And I'm having these conversations every day,
and I just I don't want you to feel like
we are saying focus on your budget because you'll all
of a sudden be able to afford a house. Like
I just want you to know that life is hard
and life is heavy, and these things can be confronting.
But if we can talk about how money is actually
(28:15):
making you feel in this moment, even if it's good,
even if it's bad, Like I want to know, are
you feeling stressed, You're feeling empowered? Are we a little
bit avoidant? We motivated? Like there is genuinely no wrong
answer here, but it is a super powerful check in
to go, well, what can I do about that? Like
how you feel about money is going to drive the
(28:38):
decisions you make around money. Yeah, and if your head
is staying in the sand around you know, even your
budget or your credit card, I can promise you that
that is impacting your ability to increase your income because
we're not talking about money, Like we need to be
consistently talking about money. We need to be having these
open conversations because you cannot fix what you aren't acknowledging
(29:00):
honestly having this conversation. And I mean I'm having a
conversation just with you and our community who listen to
money podcasts. I think they're a little bit ahead of
the game the most people, right, Yeah, but like you
might actually surprise yourself with just how far you've come,
because I think if you ask me that question, Jess,
like money, it still makes me anxious in a way,
(29:21):
Like I still get a little bit of anxiety checking
my bank account, and I think that's just because, like
I know there's gonna be money in there. But like
even business banking accounts, Like I'm consistently over analyzing, well,
what's in there, what's coming out? What's payroll got to do?
Like what overheads are we paying?
Speaker 2 (29:37):
What's rent? Like, when's that coming out?
Speaker 4 (29:39):
And I know that these are like, oh whatever, Victorialy's
problems aren't that big in hindsight, but like, we all
do that, and I think it's so important for you
to understand that. You know, I think because I know
that lots of people put me on a financial pedestal.
You go, she's good at money. Yeah, but that doesn't
mean I'm not a little bit anxious. Like that doesn't
mean I'm not a little bit like ooh, like I
(29:59):
don't like that. That doesn't mean that every time I
log into my shared trading accountant is down, I'm like whatever,
I fully understand the markets. Yeah, I hate seeing that
no one likes red cool red. What would you say
if I ask you that question? Yeah, I think more
than ever, I'm the same.
Speaker 3 (30:16):
I do find money overwhelmingly stressful lately, and I'm finding
more and more, Like I've said before, like I'm very
happy to cut things from my budget. I know that
I definitely have luxuries that I can fork out if
I need to, but it's getting harder.
Speaker 2 (30:33):
To trim the fat without feeling like you're missing out.
Speaker 3 (30:36):
Yeah, one hundred percent. You know, we've had to increase
our grocery budget by almost one hundred dollars a month,
and it's like it doesn't sound like a crazy amount
of money, but you really feel it, Like, you know,
we are way more conscious of how much heating we're
using in the house. Like I find myself, I did
that thing that what is it? I didn't do it
with tampons, but it's this example that I've seen on
(30:57):
social media where they say the first thing women always
put back is tampons, which wasn't the example for me,
but really at the shops and we were over what
we had planned to spend by quite a lot, I
was doing the shop and so I just put back
like a couple of the snacks that I'd picked up
because I was like, I don't need you know, the
bags of chips whatever, Like it's fine, Like I'm not,
you know, going hungry. It's nobody's stress. But I was like, well,
(31:17):
I can't pay for that because as soon as you start,
you know, if every week I go over and over
and over all of a sudden, there's not enough money there,
and like, I found that quite stressful. And it's not
because I can't afford back of chips, obviously I can,
but it was that, oh my gosh, like we've gotten
to a point where I'm even having to trim such
a small feeling luxury and of course I can like
(31:38):
I don't need it with as I said, no, got it,
Like I.
Speaker 4 (31:41):
Want to stress, like I'm still meeting your savings goals
and whatnot, and just as someone that's like really prioritizing that.
Speaker 3 (31:47):
But it's not a nice feeling. No, it's really confronting,
and it's really hard because you know, I work a
second job or I have a side hustle, Like I feel,
as you said, like I'm quite good with money, and
it's crazy to me that I go, I feel like
I'm very on top of it, and even then it's
still sometimes just so hard. Yeah, And I'm sure that
I'm probably not the only person feeling that way.
Speaker 2 (32:09):
Yeah, And I feel like that's.
Speaker 4 (32:11):
A good conversation to be having with the community, because
I think that they often look at us and our
team and go, oh, they're fine. I'm like you're right,
but like, I think money is inherently stressful and just
because you have more of it than somebody else, yes,
you could go, oh, we you so much more privilege.
Speaker 2 (32:27):
Yeah, I acknowledge that.
Speaker 4 (32:28):
I fully understand that, But that doesn't mean it's not stressful,
especially if you have that history of trauma where you
haven't had enough or you have gone through significant debt
and you just go, I don't know, it feels like
a slippery slope where you're like, I just don't want
to go back there, And like it's like the small
things like the chips, where you're like, that's the decisions
I used to make, and you know, you extrapolate that
(32:49):
in your head and you go, well, that's how I
got there the first time, and you just get a
little bit stressed about the idea that maybe you're slipping
when it's not the reality of the case. I think
that's human psychology, right, And like also want you to
take how you're feeling about money now, like back to
the community I suppose, and you can do this too
right now, Jess, and think about, well, how do you
actually want to feel next year, like or at the
(33:11):
end of this year, like what's that going to look like,
So to do that, ask yourself what's going to have
the biggest impact on your life to get you there,
and like not what looks impressive or what you think
you should be doing, but like what actually is going
to make things feel easier and less stressful or more
exciting for the next six months, Because like the bag
of Chip's example is a good one, but like those
(33:32):
small steps over a month or over a week, Like
back to that fifty dollars a week example is thirteen
hundred dollars in six months, Like that becomes a lot.
Like that's return flights to Bali at the moment. Yeah,
Like if you want to go to Bali, like save
free year, you've got the flights in the first six
months and second six months. That's your accommodation, you know
(33:52):
what I mean? Like there are small things and I'm
not saying that that's exactly what we all should be doing,
but like I feel like it might be you not
going on a holiday to Bali, but like finally clearing
off that lingering debt, Like maybe you've always just like
had a rolling after pay debt and you're like, do
you know what enough is enough? I am done with this,
Like I'm going to get rid of that because it's
been hanging over my head. Or it might be like
(34:14):
you want to be more prepared for Christmas, and you
just heard our fifty dollars a week example, and you're like,
thirteen hundred bucks by Christmas.
Speaker 2 (34:20):
Christmas is coming to Christmas.
Speaker 4 (34:22):
It's like it's tomorrow basically at this point, and you
could set up an automatic transfer of fifty bucks every
single week into a separate account and Christmas time, you're
going to be thirteen hundred dollars better off.
Speaker 2 (34:33):
That's a good deal.
Speaker 4 (34:34):
And I am already foreseeing that this coming Christmas is
going to be incredibly stressful. Yeah, so like let's take
that stress off ourselves. Or even if you're like, you know,
different situation again, you're like, do you know what, I
really want to put a cleaner into the budget, Like
I just think my mental capacity needs that. I want
my Saturdays back, I want to spend more time with
(34:55):
my family, Like I think putting that into the budget
is going to create the life I want to live. So, like,
there's going to be lots of different examples here.
Speaker 3 (35:03):
Yeah, definitely, So once we've identified what that thing is,
it's going to have the positive impact. We've made that
our new goal for the next six months.
Speaker 2 (35:10):
Yeah, what are we going to do?
Speaker 4 (35:11):
So I spoke recently on someone Else's podcast actually about
how adding friction actually helps break bad habits, but when
it comes to financial goals, it's actually the opposite. We
want to make it as easy as humanly possible to succeed,
and you know what, the easiest way to do that
just automate it. Like if I set up fifty dollars
(35:34):
going out of your account every single.
Speaker 2 (35:35):
Week, like you might go, oh, yeah, v I might
need that.
Speaker 4 (35:39):
I can almost guarantee when you look at your account
and that fifty bucks isn't there, you go, oh, well,
I don't have the money on X like out of sight,
out of mind. The best way to create success is
automation because then, you know what, it's quite manual. If
you're like, oh, actually I need that fifty dollars back,
I'm going to have to log in and transfer it across.
You might even convince yourself it's not worth it that
that point, and that that's going to give us that
(36:02):
extra thirteen hundred dollars at the end of the month.
So I think if you want to be more prepared
for Christmas, which seems to be my example this episode, Like,
don't just hope that you're going to have money set aside,
or like you're going to get a good tax return.
I want you to set up a direct debit fifty
bucks a week or forty dollars a week into a
separate account, because even forty bucks a week, what's that
(36:23):
one thousand dollars by Christmas that you didn't have when
you started last year. Yeah, like without having to rely
on willpower as well, Jess, incredible.
Speaker 3 (36:32):
It sounds amazing, and I love it when you do
realize that it doesn't necessarily need to be complicated. Having
a few of those smart, simple little systems that a
lot of apps and platforms now have for us to
use means that you can do a bit of prep
now and you can take the mental load off for
the whole rest of.
Speaker 2 (36:46):
The year exactly.
Speaker 4 (36:47):
And before we finish up, because I know we're coming
to the end of this episode, because I've been yapping
for a while, I want to bring it back. I
guess to that big question we asked earlier, and that's
how you actually want to feel about money by the
end of the year.
Speaker 2 (37:01):
Do you want to be calm? Do you want to
be collected? Do you want to be stressed?
Speaker 4 (37:04):
No?
Speaker 2 (37:04):
Do you want to be confident? Do you want to
be proud?
Speaker 4 (37:07):
Like, take that feeling and really hold on to it,
because every single financial decision that you are going to
make from here, whether it's automating a savings transfer or
just like saying no to something that genuinely doesn't serve you,
that feeling should be like your little guiding star. Like, remember,
I want to feel this way because I said this
(37:27):
on another podcast that I recorded. I think it goes
out the week before this episode, right, I was like motivation,
Like it doesn't find you. You don't just wake up
one day motivated, Like you create motivation, like one little
step at a time, one foot in front of the other,
like choice by choice, Like you create your own motivation,
like I think so many of us go, I'll do
(37:49):
it when I'm more motivated.
Speaker 2 (37:50):
That's not coming. I'm sorry. You actually just have to
create it yourself. Just start, just start, just do it.
Speaker 3 (37:55):
As nice he likes to say, I remember, six months
is plenty of time to turn around. Imagine closing out
the year feeling like you're completely back in control exact
fiction that Let that be the thing that gives you
that motivation. And if you loved this episode, make sure
that you follow wherever you're listening. Share it maybe with
someone who think could use a little mid year money motivations.
Speaker 4 (38:16):
Maybe ask them, do you want to be in my
accountability partner? Like if we both do this, we'll both
be in a better position in six months. That's kind
of cute too. And if you like this episode, please
don't forget to like and subscribe and follow us on
whatever your app calls it. It really does help us
bring you more of the content that you love. And
we'll see you guys on Friday.
Speaker 3 (38:36):
Bie did buy shared on.
Speaker 5 (38:44):
She's on the Money is general in nature and does
not consider.
Speaker 2 (38:47):
Your individual circumstances.
Speaker 5 (38:49):
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 PDA S TMD and obtain appropriate financial advice
tailored towards your needs. Victoria Divine and Sheese on the
Money are authorized representatives of Money.
Speaker 2 (39:09):
Sheper p t Y lt D.
Speaker 5 (39:10):
A b N three two one is six four nine
two seven seven zero eight A F s L four
five one two eight nine
My name's Sasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t glennyan Ganya, Niana,
kaka ya Ya bin Ahaka Nian our gay In Nimbina,
yakarum jar Dominyama, Domaga Ithawakawaman, damon Imlan bomber bang Gadabomba
in and now in wakah ghana on yak rum jar Watnadaa. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank I acknowledge and respect the Abiginal 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 (00:44):
She's on the Money.
Speaker 3 (00:46):
She's on the Money. Hello and welcome to She's on
(01:09):
the Money, the podcast that can't Believe the end of
the financial year is all I know.
Speaker 2 (01:14):
I don't want to know about it.
Speaker 3 (01:16):
If you're feeling the same, don't worry. You're not alone.
One minute it was all New Year, New me, and
next you're wondering, where's all your money and motivation actually gone.
Speaker 2 (01:25):
I don't know, jessicap, but I need hell.
Speaker 3 (01:27):
It disappeared, and no, I'm not besited. I'm Jessica Ricky.
Speaker 2 (01:31):
I have been duped. Surprise.
Speaker 3 (01:33):
I'm filling in for Beck boshes away, and obviously I'm
not doing this alone. Victoria Devine is here with me,
ready to keep its accountable and I'm sure deliver a
bit of tough love if we need it.
Speaker 4 (01:42):
Yeah. Absolutely, I'm the Queen of budding, and so I
don't think it was a surprise that I was here
during your intro. But I feel like everyone in our community,
including you and I, Jess, like we're not just going
oh you guys, is like us too. We love to
set big, really shiny goals at the start of the year.
But if we've learned anything from our past episodes that
a year is a really long time to stay motivated,
(02:03):
and like life happens, plans change, and by like February,
I don't know, it feels like most of those resolutions
have already gone out the window and I've just gone back.
Speaker 2 (02:13):
To my old habits.
Speaker 4 (02:14):
But just like a halftime in sport, Jess, I guess
this is where you pause and then we have a
look at our strategy and we reassess, and then we
head back out with a stronger and better game plan.
Speaker 3 (02:24):
You're the coach here to give us a rousing.
Speaker 2 (02:27):
The coach.
Speaker 4 (02:28):
I don't know if you'd want me to coach anything,
because you'd be like, oh, this is really hard, and
I'd be like, baby, you don't have to do that,
Like that's the best thing about sport, you don't have
to do them. But first, I guess when putting this
episode together, I really wanted you to remember to look
at your expenses and you're spending from the last six months,
(02:48):
and like, I know that this might not be the
most fun way to.
Speaker 2 (02:51):
Spend your time.
Speaker 4 (02:53):
But if you're in a country like Australia who follows
the end of financial year, which is on June thirty
a happy birthday to me, there is also some serious
benefit in getting this done before the end of financial year.
Speaker 2 (03:05):
Also, like New Year, knew me, Like first of.
Speaker 4 (03:09):
July can be like your new financial year, but like
you don't have to start then because you've already made
the plan already.
Speaker 2 (03:14):
Yeah, does that make sense? And like the sales are everywhere.
Speaker 4 (03:18):
I feel like I've already started seeing them ramp up,
which is absolutely wild. I saw someone on social media
the other day saying, oh, e f y sales coming soon, and.
Speaker 2 (03:26):
I was like, guys, what the heck?
Speaker 4 (03:29):
But if we're smart, we can actually use this coming
season to our advantage instead of just getting swept up
in the marketing height, which I think a lot of
us do every single year. And I guess another reason
we look at six months of spending data is because
I guess that shows you the real cumulative cost of
your habits. So those sneaky little expenses that don't feel
(03:51):
like a big deal. In a moment, you realize, oh,
that fifty dollars on Uber eats feels kind of harmless
right now. But then we zoom out, You've already spent
thirteen hundred dollars in the last six months.
Speaker 2 (04:01):
Yeah, do you know what I mean?
Speaker 4 (04:02):
Like, yeah, I think you and I go, oh, fifty
bucks on a new top. Like I feel like, in
this economy, fifty dollars on your new top's a good deal,
But like, if you're doing that every single week, that's
thirteen hundred dollars, like that total, and having that cost
be maybe a little bit confronting can actually help you
realize that maybe that spending wasn't a part of your
(04:23):
goals or values, and like you don't have to continue
that way. We can, I guess, reallocate that money to
something that is a little bit more fun, but also
something more in line with our values, like maybe a
holiday fund or paying off your credit card debt that's
really stressing you out. And I guess once you have
all your expenses together, I want to like play a
game with it.
Speaker 2 (04:44):
It's like shoot Mary Kill. Yeah, shoot Mary.
Speaker 3 (04:47):
Kill, very aggressive. I played kiss Mary Kill.
Speaker 2 (04:49):
Oh do you yeah?
Speaker 4 (04:51):
Oh well, maybe it's a little bit different in our house.
We're going to play that with our money, but we're
going to like reframe it a little bit. It's going
to be keep, cut and switch. That's not as good,
not as sexy said. If you want to use and
shoot Marry kill, you can. I feel like it's a
little bit more dramatic, but like keep, that's probably Marry
if you're playing that version of the game. Keep is
(05:13):
the things that I think genuinely bring value into your life.
These are the things think of it as your like
financial non negotiables, Like girl, we're paying rent, like I'm
sorry you have to pay you your utilities. Like if
you do go to the gym regularly and you love
your gym membership, like that goes in that bucket, but
only if you're actually using it. Don't try and gaslate
yourself into oh, like maybe I'll keep it because in
(05:35):
this new financial year, I'll use it. Don't line to yourself.
Be ruthless, be ruthless. But like we're keeping the things
that we want to keep in our lives, we want
to marry, then cut that's kill. We are going to
cut the stuff that isn't serving us anymore, those little
expenses that we were talking about earlier that just don't
align with our values. Like if you looked at this
(05:57):
jests and said, I'm spending fifty bucks on Uber eats
every single week, I love it.
Speaker 2 (06:03):
Pop off. Yeah, Like thirteen hundred dollars on Uber.
Speaker 4 (06:06):
Eats to you might be absolutely worth it, because like
you're telling me that every I don't know, I'm going
to make this up. Every single Friday night, you and
your partner get a pizza on Uber eats and you
watch one of your favorite movies and you have the
best date night of your entire Life God thus worth
thirteen hundred bucks over six months. But if you're like, oh,
because they didn't want to cook, and I couldn't be
bothered getting up and walking to the freezer to see
(06:28):
if there was any chicken nuggets, So we ordered chicken nuggets.
Speaker 2 (06:33):
Do you know what I mean? Like, that's clearly not
serving you, So we want to cut those things.
Speaker 4 (06:37):
They might be subscriptions that you forgot about, all the
healthy insurance extras that you don't even know that you're
currently paying for because you need to review them. And
then we've got switch, which I think is shoot because
you might survive rush. But like there's switch and this
is where you shop around and negotiate a better deal
on things like your energy bills, your health insurance, your
(06:58):
phone plan, and basically anywhere that you are paying. The
infamous loyalty tax we did a whole episode, Jess, was
that you and I back in the day. I feel
like we did the loyalty tax episode together.
Speaker 3 (07:09):
I've done one I don't remember.
Speaker 4 (07:11):
Just key in loyalty Tax. She's on the money, and
the episodes we've done on that will come up. But
like that's where it's shoot, getting the gun out if
you don't get us a better deal, leaving, that's very leaving,
But like we're going to switch, Like I am not
being held hostage by loyalty tax I don't care if
you've been with a company you for like, oh yeah,
(07:33):
but they sent me their premiums and sent congrats for
being a member for nine years.
Speaker 3 (07:37):
What are you really getting?
Speaker 2 (07:38):
What are you getting out of that?
Speaker 3 (07:39):
Yeah?
Speaker 2 (07:40):
Is it a discount? Because if it's not, I don't
want it.
Speaker 3 (07:42):
Amen.
Speaker 2 (07:43):
The best part is at the end of the financial year.
I think this is the best time to do with it.
Speaker 4 (07:48):
This is when all the private health insurance companies they
go fishing because the medicare surcharged levy that is going
to come into effect by June thirty, which means if
you earn over a certain amount and you don't have
private health insurance, you have to pay more. And they
know that you are going to scramble to get health insurance.
So if you already have it, why not use it
as the best time to get a better deal. Be
like you are offering this to other people, I would
(08:09):
like that deal, And I mean this is when lots
of different providers are throwing around. I would say juicy benefits,
like you might get one month free of cover, or
a gift card or something for joining up, or even
just a discount on the deal that you already had,
like this is a good deal, yess.
Speaker 3 (08:25):
Yeah, absolutely. And another really great way to make the
most of end of financial year is to take a
look at what is actually already on your keyp list
and see if there's anything that's going on sale.
Speaker 2 (08:33):
So can rent go on sale? O? Girl can dream? Yeah?
Speaker 4 (08:36):
Can you imagine if you like able to negotiate and
you're like, landlord is marketing your rent?
Speaker 3 (08:41):
Ah, I wish I'd be going to bat for that.
I'll tell you what. But if there's a software subscription
that you rely on, check if they're running an end
of financial year discount, or maybe if you're happy with
your current insurance provider, like you are saying, that's great,
but can you take them a competitors price and see
if you can, you know, say, hey, give it to me,
put the gun to the head. I'm gonna walk somewhere else.
Speaker 4 (09:01):
But like it kind of makes sense, Like I'm so sorry,
but we're in the cost of living crisis and my
job is to help you financially, Like even if you
threaten to quit, like this is a little bit unhinged,
but like even if you're like I really like this,
like software that I used, and I'm not going to
name names because like we don't want to, but Jess,
you and I know well that there is one very
popular software. If you go through their settings and you
(09:24):
go cancel my account, you're just toying with the idea.
You're just having a look to see what happens if
you hit cancel my account, because.
Speaker 2 (09:30):
You always get it back.
Speaker 4 (09:32):
They go, oh, you sure you want to leave, We'll
give you a fifty percent discount, and go, oh, what
a coincidence.
Speaker 3 (09:37):
I guess I'll stay.
Speaker 4 (09:38):
Yes, I'll stay to look around and even google the
software that you use and be like, how to get
a discount on software xyz because sometimes there are little
loopholes like threatening to cancel, and they're like, oh, well,
here's our retention strategy. You didn't even have to call
anyone on the phone, and you saved fifty percent on
your very expensive software that edit things.
Speaker 3 (10:00):
One hundred percent, say less. And it's about keeping what
you love but making sure you're getting the best possible deal.
Speaker 2 (10:05):
I think that is a good deal. Like again, shoot,
and I'm.
Speaker 3 (10:10):
Looking, I think we've got like some real aggression problems
in this team.
Speaker 2 (10:13):
Well I do, because I'm just like, why am I
paying so much for software?
Speaker 4 (10:16):
Anyway, that's beside the point, Like this isn't a green
light though, jes just to go rogue with your credit card.
But if you know that you're going to like need
things that are work related expenses, so like equipment, maybe
you've been going, oh, I work for myself and I
need a new laptop. Or even if you like regularly
buy things like skincare or household staples, I reckon the
(10:39):
end of financial year sales are a literal perfect time
to buy them at a discount, stock up for the
upcoming year exactly, Like look at those expenses and be like, okay, cool,
Like what is one thing that I bought over that
last six months? Maybe you do buy two of your
favorite moisturizer while that website has a forty percent discount
because you're like, I know in the last six months
(10:59):
I've used to and they're not going to go off
in that time. I'll just buy two so it gets
me through to the end of the year. Maybe I'll
stuck up again at Christmas. Yeah, like when Christmas sales
are on.
Speaker 3 (11:08):
What are some other end of financial year reminders people
should keep in mind.
Speaker 2 (11:10):
I've written down a couple, so bear with me.
Speaker 4 (11:12):
But another thing that future you is definitely going to
thank you for is topping up your super jessic Ici.
We want to do that before June thirty though, so
that we can take advantage of concessional which is before tax,
and non concessional, which is after tax contribution caps if
you can. So those have moved now, and I don't
think most people in our community can max out there
(11:33):
super like, just because I don't want you to think, oh,
Victoria is being unrealistic, Like the cap is thirty thousand dollars.
I'm not going to contribute thirty thousand dollars to my super.
Speaker 2 (11:42):
This year, like go, it's just a cap.
Speaker 4 (11:45):
Yeah, even an extra few hundred dollars or fifty bucks
to your super could be really good. And if it's
come from your bank account, come tax time, you will
get a refund on the tax that you already paid, because,
for example, the supernuation tax environment is fifteen percent. But
most people in our community, I would say have an
(12:05):
average tax rate of thirty percent. That means a fifteen
percent return on the money that you deposited.
Speaker 3 (12:10):
That's pretty appealing.
Speaker 2 (12:11):
That's pretty appealing.
Speaker 4 (12:12):
And for a lot of us, I know we're asking
questions like, oh, my super fuels behind, or I want
to get a little bit ahead, like small steps in
the right direction, Like we don't need to have thirty
thousand dollars to max out our super Like a few
dollars here and there over the long term could actually
compound and put future you when future you is retiring
in the.
Speaker 2 (12:31):
Best possible position.
Speaker 3 (12:32):
And we love that we do.
Speaker 4 (12:33):
I feel like that's a win win, and Jess I
would say, this is something that you want to look
at right now, like not the twenty ninth of June,
because one thing that a lot of people do not
realize is that the contributions have to clear, so like
they have to hit your superanuation account before the end
of financial year to count. You can't just go, oh,
(12:54):
but I transferred it on the twenty ninth of June,
But then maybe your superannuation account doesn't have OSCO and
it didn't hit like July second.
Speaker 2 (13:01):
Sorry, it falls into the new and.
Speaker 3 (13:03):
A lot of people start doing them at end of
financial ye. I know, my super has a notification that
pops up usually in the app that says, hey, like,
if you're planning on making contributions to it two weeks
prior to allow for process.
Speaker 4 (13:13):
You just want to make sure that, like you're dotting
all your eyes and crossing all your te's, so like
if you did it so that you could reap the
tax benefits, you actually can. And I think that that's
important because not alsubanuation funds have the easiest processing systems,
so it's easy for you to transfer, but then their
processing is like maybe a bit more manual, And that
(13:34):
doesn't mean they're bad, It just means it takes a
little bit longer totally.
Speaker 3 (13:37):
And that's applicable to anyone who wants to use the
first home Super Savior scheme as well.
Speaker 4 (13:41):
So the first time Super Saviors scheme. I was explaining
this to a friend the other night, maybe maybe I'd
had a few ones, and I was like, girl, it
is the closest thing to money laundering that you can
get to in Australia because you can put your cash
in and then you can take it out and you
can get a refund.
Speaker 2 (13:57):
Let me love, you can get a lower tax, that's right.
Speaker 4 (14:00):
And they were like, Victoria, you all right, And I
was like, girl, if you are buying your first home
and you're not using this system even like to put
fifteen granding because you're planning on buying really soon and
you actually can't use it over the long term, is
that not free money?
Speaker 2 (14:14):
Jes Totally yeah, but it is free money.
Speaker 4 (14:17):
And I explain, like again, I told you guys before
that the superannuation tax environment is fifteen percent and most
of us are on a marginal tax rate of thirty percent.
If you're higher than that, like if you're even closer,
like the more money you earn better the first home
super sabor scheme is, and like this is one of
the places where you go, you know, the rich really
do keep getting richer because you'll get fifteen percent tax back, Jess,
(14:41):
And they will too, but because they're paying more tax,
they get more of a discount. So it's kind of
like instant returns on your money. And the benefit is
if you start saving for your first home now, but
you're like, v it's going to take forever, like I'm not,
and Jess, you would know this well, does not take
a year or two years to save for your first
time home anymore, which I think the de Lulu boomers
(15:02):
think it does, but like it can take you ten years,
but you actually get the returns on that money that
was invested as well to go towards your first home.
So it's not just those tax benefits, but it's also
the investment returns over that period of time.
Speaker 2 (15:15):
Is that not super sexy?
Speaker 3 (15:17):
It's amazing.
Speaker 2 (15:18):
It's so good.
Speaker 3 (15:19):
And if you are thinking about buying soon, your contribution
cap we've spoken about this before, but it's fifteen thousand
per financial Yeah, so.
Speaker 2 (15:25):
You can do fifty thousand dollars over the long term.
Speaker 3 (15:27):
Yes, So you could drop fifteen thousand in now and
then come July first you can put another fifteen you
don't even need me, and then all of a sudden,
there's thirty thousand ready to go.
Speaker 4 (15:37):
Like, if you are planning on buying this year, that's
thirty thousand dollars that you can pop through that scheme.
I mean, obviously this isn't personal advice, and if it
works for you, fantastic. The actual best thing that you
could do if you're thinking about the first home, super
savor scheme, Jess, and I feel like I rant about
this a lot when we talk about super is just
call your super fund because Australian super versus like host plus,
(16:00):
they're going to have like a slightly different process, Like
it might just be different release forms or ways that
you contributed.
Speaker 2 (16:06):
But just pick up the phone because you are already.
Speaker 4 (16:09):
Paying subernuation fees to get this advice, so it's technically
free because you've already paid for it. It's how I
see holidays, like if I already prepaid the holiday and
then it's been a few months before I went on
the holiday, the holiday was free. Yeah, girl, math, But
pick up the phone and have a chat with them
and be like, hey, really want to make the most
of this. They can give you financial advice on that
(16:29):
I can't. But they could say, Okay, yes, your contribution
strategy looks like this to cap out this system and
this is going to work this way.
Speaker 2 (16:36):
How good is that?
Speaker 3 (16:37):
We love that free advice?
Speaker 4 (16:38):
Yes?
Speaker 3 (16:38):
Please? Alrighty, what is next on your list?
Speaker 2 (16:41):
Okay?
Speaker 4 (16:42):
So I feel like we've crunched the numbers and we
have faced what I believe are the cold hard facts,
but it's now time to switch gears a little bit more. Yes,
we're going to get reflective. No more shoot Mary kill.
We're not going to play that game. After all, money
isn't about mouths or guns. It's actually about how it
makes you feel. And spoiler those feelings, Yeah, they're probably
(17:03):
driving all the decisions that you make. Jess.
Speaker 2 (17:06):
Oh, but you knew that already.
Speaker 4 (17:08):
You've been on this show for long enough to know
that money is inherently emotional, right, Yeah, No, and I
think that reviewing the way that you feel about things
is probably a very great way to expose why you have.
Speaker 3 (17:18):
Some of those habits that maybe you wish that you
did it exactly.
Speaker 4 (17:22):
So let's go to a really quick break so that
we can prep for getting a little bit emotional. All right,
we are back, and as Jess and I promised, so
we are going to get a little bit reflective. We're
going to talk about our emotions because before we can
plan where we're going, you actually need to fully comprehend
where you've been.
Speaker 2 (17:43):
Like it's confronting.
Speaker 4 (17:44):
It can be hard understanding why you feel things about money,
or why you maybe don't feel like you've caught up
to your friends, or why you're so good at comparison
and just doesn't seem to be good at comparison, you know.
But like, reflection is so important because for me, it's
not about beating yourself up or like trying to point
things out about yourself that you know aren't so good,
(18:06):
because I don't want you to fall into a guilt spiral.
It's actually about awareness and creating consistent and very clear
awareness because real reflection is going to give you clarity,
clarity on so many things, so what you're currently doing,
what you actually want in.
Speaker 2 (18:23):
Life, and what that's going to look like.
Speaker 4 (18:26):
When you know what's worked and what hasn't, and how
you actually feel about your money, then you're in this
really powerful position to be more empowered and be more
intentional towards the decisions that you're making, and make decisions
that you're like, nah, this is absolutely what I want
to do, Like this is how I want to do it.
Speaker 2 (18:44):
And like Jess, we know that you are in.
Speaker 4 (18:47):
The market for buying a property at some point, but
like I can always guarantee you were not able to
save a house deposit without being really clear that that
was a goal that you wanted, without being really clear
about your budget and what you did and didn't want
to spend like you are probably one of the most
intentional spenders I know. But do you think that's because
of your values and like understanding them or do you
(19:08):
think you're just really good at money?
Speaker 3 (19:10):
No, I think it's definitely Like I'm a very goal
oriented person, so it's when I have eyes on the price,
it's really simple for me to go, Okay, well, you know,
I can spend that fifty dollars a week or thirteen
hundred dollars over six months on Uber Eats, or I
can you know, have that money to put towards a
house deposit. And so for me, it's really easy to
separate that and having a good idea of where I'm
going is something that for me personally, I find really
(19:33):
drives those decisions and makes me stup and go, okay,
well would I rather X or Y?
Speaker 2 (19:37):
Yeah?
Speaker 4 (19:38):
And you're a fashion galie like you and I consistently
bond over fashion beauty, and I'm always like, oh, where's
that top from? Do you think that you've sacrificed a
lot about the lifestyle that you enjoy to get ours
to posit? Yeah?
Speaker 3 (19:50):
I think there's also just ways to be smart like
I one in, one out is a big rule for me.
You know, I love to resell my clothing, whether it's
on deepop or whether it's at clothing racks. I think
there are often ways to find compromises to do the
things that you want, Like if you like going out
to dinner, can you use one of those apps to
do the fifty percent off dinners at an early or
late session. I think again, like knowing what's important, you
(20:12):
can normally find ways to still uphold them. Maybe it's
like a little bit less convenient, like I'm not wearing
the newest, latest style. I'm often because I'm shopping secondhand
or I'm waiting for it to go on sale.
Speaker 4 (20:23):
Nobody would know, Jess, you look shic all the time.
Not one person has ever been like, oh, Jess, where's
last season?
Speaker 3 (20:29):
And like anybody who cares. But I think it's sometimes
letting go of the culture of needing things immediately, Like
there's that thing of like you see something, oh, I
can click somebody's link and have it straight away and
it's at my house in two days. Getting rid of
the need for that and finding like alternate ways to
do things means you can still not have to sacrifice completely.
Speaker 4 (20:49):
Yeah, And I think it's important because there are going
to be so many people listening to this who are like, oh,
it's Jess, Like we know she's on Friday episodes, but
like we're maybe new to the community, and when you
hear just talking about money, you're like, oh, so easy
for her, She's so good at it, Jess. When you
started at she's on the money, I believe you had
just gotten out of a whole heap of credit card
(21:10):
debt I had, So you kind of started from scratch,
like you weren't someone who was like, oh, I've just
always been kind of good at money. No, I don't
understand those people. Just for the record, like if you are,
I'm just envious, Like this is just my jealousy showing through.
I think it's important to also preface that you didn't
just always be good at money, right.
Speaker 3 (21:30):
No, not at all. I listened to the show before
I were it here, and that was what taught me. Remember, yeah,
I'm an o G Season one girly and so I, yeah,
I had a lot of credit card debt. I think
at its peak, I had like eight thousand plus dollars.
Speaker 2 (21:44):
That would have been so stressful across your credit cards.
Speaker 3 (21:46):
And it was a lot, and you know, I paid
it all off and I used every dollar pretty much
that I had to pay it off. And I was like, okay,
well now I need to save an emergency fund and okay,
I can start saving a house.
Speaker 4 (21:55):
Was it?
Speaker 3 (21:55):
And it's been well, I'm this is my fifth year
here and in that time, I've got a six figure
house to possible.
Speaker 2 (22:01):
Ah, that's so sexy. Yeah, and you've been on overseas trips.
Speaker 4 (22:06):
You are always still spending on like fashion and enjoying life,
Like I swear you're at brunch every second weekend, but
I watch you on socials.
Speaker 3 (22:14):
Yeah, I feel like I still live a life that
I'm really happy to you. And you know, I don't
feel like I'm overwhelmingly missing so proud of you.
Speaker 2 (22:22):
That is so exciting.
Speaker 4 (22:23):
But I think that when we aren't, you know, prioritizing things,
and we aren't clear on our goals and what we
want to achieve, and we don't have the tools that
we deserve to get out of it, we can often
fall into like sneaky little habits that like kind of
self sabotage ourselves. Like I remember when I was getting
out of debt. Like there would be periods of time
where I'm like, I'm so motivated, I'm going to smash
this out, and then.
Speaker 2 (22:44):
I'd be like, why am I bothering?
Speaker 4 (22:46):
Yeah, like pull more money on my credit card, and
it became like a little cycle that I then have
to break again, and like, you can't just pull yourself out.
But I think that if you're ignoring your bank balance
and you don't know how much is in there, or
you don't know exact debt numbers, or you you know,
you're not really sure when you're next after pay amount
is coming out, like pull your head out of the
sand and just know the numbers. Because knowledge is power.
(23:09):
Doesn't mean that you're immediately in a better position. It
doesn't mean that you're immediately able to get out of
that debt, which I mean we all wish, but it
does mean that you're better prepared for it and it's
not going to take you by surprise. I think that
self sabotage is a massive part of staying in debt
because we kind of just have our heads in the
sand and we're like, oh, like you know, you don't
(23:31):
get into eight thousand dollars worth of credit card debt
by getting into the first thousand and thinking, well.
Speaker 2 (23:35):
That was fun.
Speaker 4 (23:35):
I'd love some more debt, right, Yeah, you do it
because you're like, I'm just going to pretend it's not there,
and I know that I haven't maxed this out yet,
like you just keep rolling.
Speaker 2 (23:45):
So I think it's really important.
Speaker 4 (23:46):
To do that.
Speaker 3 (23:47):
And six months is a really good amount of time,
I feel like to set yourself new goals, like it
feels sometimes thinking a year ahead can be overwhelming when
you're already in that mindset. So can you give us
some ideas what can we do and sit down right
now to prep for the next six months. In terms
of reflecting a.
Speaker 2 (24:02):
Little bit, I've written a list.
Speaker 3 (24:03):
I'll get it.
Speaker 4 (24:04):
We're gonna journal where I love a list. I'm an
ADHD girly through and through. So my entire note section
is lists. Yeah doesn't mean I remember them, but I
have written another one for this episode. So we are
going to get a journal or maybe you like I
don't journal v We'll just take a quiet moment and
ask yourself these questions.
Speaker 2 (24:20):
So the first is what were your three biggest money
wins this year?
Speaker 4 (24:25):
Like, what were your three biggest financial wins big or
small doesn't have to like be something that other people
would look at, Like it can just be for you.
But like maybe you finally started prioritizing an emergency fund
and like maybe there's not heaps in there, but like
it exists. Maybe you negotiated a better salary or even
just survived without dipping into your savings.
Speaker 2 (24:48):
Like wins are wins.
Speaker 4 (24:50):
Then I want you to be real with yourself and ask, well,
what financial habit so over the last six months have
kind of slipped. We're all guilty of this, right, Like
we're all guilty, I would say, of a little bit
of convenience spending, a little bit of who cares? Like
this price is gone up, I'm not going to look
for a better deal. Like I want you to be honest.
(25:10):
Did your meal prepping did it disappear by February? Like
would be like I'm going to be a meal prepping queen.
I've watched all these meal prepping tiktoks and then all
of a sudden, you're like, meal prepping is not for me.
Speaker 3 (25:21):
Bought all the containers Yarrell in the drawer?
Speaker 2 (25:24):
Yep, did you go?
Speaker 4 (25:25):
You know what I'm going to buy like only a
coffee out once we're I'm going to make it at home,
and then you're like, look at your wallet and you
have five different coffee loyalty cuts, Like, what's going on, babe,
what's happening there?
Speaker 2 (25:36):
Like it's not about shame.
Speaker 4 (25:37):
I think that we can look at these things and
be like, oh, this is just a pattern, like what's
going on here? More often than not, it's just convenience. Yeah,
And it's maybe something that you're like, I didn't realize
how much I valued that. I do want to make
a little bit more space in my budget so that
I can continue to enjoy that because like I tried
to cut it out, I don't want to or on
the flip side, you go, I really need to tighten
(25:58):
my belt, Like I really need to just not to
do that anymore. And then the big question, the last
question is how are you actually feeling about money right now?
Like I recorded an episode before this episode, and it
was like a solo episode because I just think that
life and money and life is just it's so heavy
right now. I feel like with everything going on economically
(26:20):
and then everything going on financially, like it feels like
life is expensive.
Speaker 2 (26:25):
It doesn't matter who you are.
Speaker 4 (26:26):
And I'm not saying that, Oh, Victoria feels like life's expensive,
Like how privileged?
Speaker 2 (26:31):
What a twitt? It does?
Speaker 3 (26:32):
Though?
Speaker 4 (26:33):
Life was like and like every single time I go
to the supermarket, I find it a privilege that I
can afford to pay for my groceries. But I'm often
mind boggled at how much I'm spending, and I'm like.
Speaker 2 (26:43):
What is this like? And I'm you know, yes, let's
be honest, I have the money, but.
Speaker 4 (26:49):
That doesn't mean that I want to, you know, blow
the budgets that I've set for myself just purely because
I can. Yeah, Like I I'm often mind boggled at
how much things are and I just go, how do people.
Speaker 2 (27:01):
Who aren't business owners?
Speaker 4 (27:03):
Like?
Speaker 2 (27:03):
How do we get by?
Speaker 4 (27:04):
And my husband and I were talking about this the
other night, and I was like, Steve, I reckon that
one hundred thousand dollars, which used to be to me
like one day I'm going to earn one hundred grand
like that was like my when I was twenty one,
like that was my big dog goal. I reckon, one
hundred thousand is the new sixty thousand, like, and that
I think is pretty astronomical to say, but I would
(27:27):
say that, you know, ten years ago more sadly, when
I entered the workforce, it's more than that.
Speaker 2 (27:32):
It was probably more than fifteen years.
Speaker 4 (27:34):
Right, But when I officially enter the workforce, I remember,
sixty thousand dollar income was really cushy, Like it was
a good income. You could pay your rent, you could
save a bit, you could like still have a good
lifestyle if you're earning sixty thousand dollars now, like you
are budgeting, you are cutting things like I can alwayst
guarantee a lot of people in those situations, like well,
I just don't have the capacity to say for a
(27:55):
home right now. And I'm having these conversations every day,
and I just I don't want you to feel like
we are saying focus on your budget because you'll all
of a sudden be able to afford a house. Like
I just want you to know that life is hard
and life is heavy, and these things can be confronting.
But if we can talk about how money is actually
(28:15):
making you feel in this moment, even if it's good,
even if it's bad, Like I want to know, are
you feeling stressed, You're feeling empowered? Are we a little
bit avoidant? We motivated? Like there is genuinely no wrong
answer here, but it is a super powerful check in
to go, well, what can I do about that? Like
how you feel about money is going to drive the
(28:38):
decisions you make around money. Yeah, and if your head
is staying in the sand around you know, even your
budget or your credit card, I can promise you that
that is impacting your ability to increase your income because
we're not talking about money, Like we need to be
consistently talking about money. We need to be having these
open conversations because you cannot fix what you aren't acknowledging
(29:00):
honestly having this conversation. And I mean I'm having a
conversation just with you and our community who listen to
money podcasts. I think they're a little bit ahead of
the game the most people, right, Yeah, but like you
might actually surprise yourself with just how far you've come,
because I think if you ask me that question, Jess,
like money, it still makes me anxious in a way,
(29:21):
Like I still get a little bit of anxiety checking
my bank account, and I think that's just because, like
I know there's gonna be money in there. But like
even business banking accounts, Like I'm consistently over analyzing, well,
what's in there, what's coming out? What's payroll got to do?
Like what overheads are we paying?
Speaker 2 (29:37):
What's rent? Like, when's that coming out?
Speaker 4 (29:39):
And I know that these are like, oh whatever, Victorialy's
problems aren't that big in hindsight, but like, we all
do that, and I think it's so important for you
to understand that. You know, I think because I know
that lots of people put me on a financial pedestal.
You go, she's good at money. Yeah, but that doesn't
mean I'm not a little bit anxious. Like that doesn't
mean I'm not a little bit like ooh, like I
(29:59):
don't like that. That doesn't mean that every time I
log into my shared trading accountant is down, I'm like whatever,
I fully understand the markets. Yeah, I hate seeing that
no one likes red cool red. What would you say
if I ask you that question? Yeah, I think more
than ever, I'm the same.
Speaker 3 (30:16):
I do find money overwhelmingly stressful lately, and I'm finding
more and more, Like I've said before, like I'm very
happy to cut things from my budget. I know that
I definitely have luxuries that I can fork out if
I need to, but it's getting harder.
Speaker 2 (30:33):
To trim the fat without feeling like you're missing out.
Speaker 3 (30:36):
Yeah, one hundred percent. You know, we've had to increase
our grocery budget by almost one hundred dollars a month,
and it's like it doesn't sound like a crazy amount
of money, but you really feel it, Like, you know,
we are way more conscious of how much heating we're
using in the house. Like I find myself, I did
that thing that what is it? I didn't do it
with tampons, but it's this example that I've seen on
(30:57):
social media where they say the first thing women always
put back is tampons, which wasn't the example for me,
but really at the shops and we were over what
we had planned to spend by quite a lot, I
was doing the shop and so I just put back
like a couple of the snacks that I'd picked up
because I was like, I don't need you know, the
bags of chips whatever, Like it's fine, Like I'm not,
you know, going hungry. It's nobody's stress. But I was like, well,
(31:17):
I can't pay for that because as soon as you start,
you know, if every week I go over and over
and over all of a sudden, there's not enough money there,
and like, I found that quite stressful. And it's not
because I can't afford back of chips, obviously I can,
but it was that, oh my gosh, like we've gotten
to a point where I'm even having to trim such
a small feeling luxury and of course I can like
(31:38):
I don't need it with as I said, no, got it,
Like I.
Speaker 4 (31:41):
Want to stress, like I'm still meeting your savings goals
and whatnot, and just as someone that's like really prioritizing that.
Speaker 3 (31:47):
But it's not a nice feeling. No, it's really confronting,
and it's really hard because you know, I work a
second job or I have a side hustle, Like I feel,
as you said, like I'm quite good with money, and
it's crazy to me that I go, I feel like
I'm very on top of it, and even then it's
still sometimes just so hard. Yeah, And I'm sure that
I'm probably not the only person feeling that way.
Speaker 2 (32:09):
Yeah, And I feel like that's.
Speaker 4 (32:11):
A good conversation to be having with the community, because
I think that they often look at us and our
team and go, oh, they're fine. I'm like you're right,
but like, I think money is inherently stressful and just
because you have more of it than somebody else, yes,
you could go, oh, we you so much more privilege.
Speaker 2 (32:27):
Yeah, I acknowledge that.
Speaker 4 (32:28):
I fully understand that, But that doesn't mean it's not stressful,
especially if you have that history of trauma where you
haven't had enough or you have gone through significant debt
and you just go, I don't know, it feels like
a slippery slope where you're like, I just don't want
to go back there, And like it's like the small
things like the chips, where you're like, that's the decisions
I used to make, and you know, you extrapolate that
(32:49):
in your head and you go, well, that's how I
got there the first time, and you just get a
little bit stressed about the idea that maybe you're slipping
when it's not the reality of the case. I think
that's human psychology, right, And like also want you to
take how you're feeling about money now, like back to
the community I suppose, and you can do this too
right now, Jess, and think about, well, how do you
actually want to feel next year, like or at the
(33:11):
end of this year, like what's that going to look like,
So to do that, ask yourself what's going to have
the biggest impact on your life to get you there,
and like not what looks impressive or what you think
you should be doing, but like what actually is going
to make things feel easier and less stressful or more
exciting for the next six months, Because like the bag
of Chip's example is a good one, but like those
(33:32):
small steps over a month or over a week, Like
back to that fifty dollars a week example is thirteen
hundred dollars in six months, Like that becomes a lot.
Like that's return flights to Bali at the moment. Yeah,
Like if you want to go to Bali, like save
free year, you've got the flights in the first six
months and second six months. That's your accommodation, you know
(33:52):
what I mean? Like there are small things and I'm
not saying that that's exactly what we all should be doing,
but like I feel like it might be you not
going on a holiday to Bali, but like finally clearing
off that lingering debt, Like maybe you've always just like
had a rolling after pay debt and you're like, do
you know what enough is enough? I am done with this,
Like I'm going to get rid of that because it's
been hanging over my head. Or it might be like
(34:14):
you want to be more prepared for Christmas, and you
just heard our fifty dollars a week example, and you're like,
thirteen hundred bucks by Christmas.
Speaker 2 (34:20):
Christmas is coming to Christmas.
Speaker 4 (34:22):
It's like it's tomorrow basically at this point, and you
could set up an automatic transfer of fifty bucks every
single week into a separate account and Christmas time, you're
going to be thirteen hundred dollars better off.
Speaker 2 (34:33):
That's a good deal.
Speaker 4 (34:34):
And I am already foreseeing that this coming Christmas is
going to be incredibly stressful. Yeah, so like let's take
that stress off ourselves. Or even if you're like, you know,
different situation again, you're like, do you know what, I
really want to put a cleaner into the budget, Like
I just think my mental capacity needs that. I want
my Saturdays back, I want to spend more time with
(34:55):
my family, Like I think putting that into the budget
is going to create the life I want to live. So, like,
there's going to be lots of different examples here.
Speaker 3 (35:03):
Yeah, definitely, So once we've identified what that thing is,
it's going to have the positive impact. We've made that
our new goal for the next six months.
Speaker 2 (35:10):
Yeah, what are we going to do?
Speaker 4 (35:11):
So I spoke recently on someone Else's podcast actually about
how adding friction actually helps break bad habits, but when
it comes to financial goals, it's actually the opposite. We
want to make it as easy as humanly possible to succeed,
and you know what, the easiest way to do that
just automate it. Like if I set up fifty dollars
(35:34):
going out of your account every single.
Speaker 2 (35:35):
Week, like you might go, oh, yeah, v I might
need that.
Speaker 4 (35:39):
I can almost guarantee when you look at your account
and that fifty bucks isn't there, you go, oh, well,
I don't have the money on X like out of sight,
out of mind. The best way to create success is
automation because then, you know what, it's quite manual. If
you're like, oh, actually I need that fifty dollars back,
I'm going to have to log in and transfer it across.
You might even convince yourself it's not worth it that
that point, and that that's going to give us that
(36:02):
extra thirteen hundred dollars at the end of the month.
So I think if you want to be more prepared
for Christmas, which seems to be my example this episode, Like,
don't just hope that you're going to have money set aside,
or like you're going to get a good tax return.
I want you to set up a direct debit fifty
bucks a week or forty dollars a week into a
separate account, because even forty bucks a week, what's that
(36:23):
one thousand dollars by Christmas that you didn't have when
you started last year. Yeah, like without having to rely
on willpower as well, Jess, incredible.
Speaker 3 (36:32):
It sounds amazing, and I love it when you do
realize that it doesn't necessarily need to be complicated. Having
a few of those smart, simple little systems that a
lot of apps and platforms now have for us to
use means that you can do a bit of prep
now and you can take the mental load off for
the whole rest of.
Speaker 2 (36:46):
The year exactly.
Speaker 4 (36:47):
And before we finish up, because I know we're coming
to the end of this episode, because I've been yapping
for a while, I want to bring it back. I
guess to that big question we asked earlier, and that's
how you actually want to feel about money by the
end of the year.
Speaker 2 (37:01):
Do you want to be calm? Do you want to
be collected? Do you want to be stressed?
Speaker 4 (37:04):
No?
Speaker 2 (37:04):
Do you want to be confident? Do you want to
be proud?
Speaker 4 (37:07):
Like, take that feeling and really hold on to it,
because every single financial decision that you are going to
make from here, whether it's automating a savings transfer or
just like saying no to something that genuinely doesn't serve you,
that feeling should be like your little guiding star. Like, remember,
I want to feel this way because I said this
(37:27):
on another podcast that I recorded. I think it goes
out the week before this episode, right, I was like motivation,
Like it doesn't find you. You don't just wake up
one day motivated, Like you create motivation, like one little
step at a time, one foot in front of the other,
like choice by choice, Like you create your own motivation,
like I think so many of us go, I'll do
(37:49):
it when I'm more motivated.
Speaker 2 (37:50):
That's not coming. I'm sorry. You actually just have to
create it yourself. Just start, just start, just do it.
Speaker 3 (37:55):
As nice he likes to say, I remember, six months
is plenty of time to turn around. Imagine closing out
the year feeling like you're completely back in control exact
fiction that Let that be the thing that gives you
that motivation. And if you loved this episode, make sure
that you follow wherever you're listening. Share it maybe with
someone who think could use a little mid year money motivations.
Speaker 4 (38:16):
Maybe ask them, do you want to be in my
accountability partner? Like if we both do this, we'll both
be in a better position in six months. That's kind
of cute too. And if you like this episode, please
don't forget to like and subscribe and follow us on
whatever your app calls it. It really does help us
bring you more of the content that you love. And
we'll see you guys on Friday.
Speaker 3 (38:36):
Bie did buy shared on.
Speaker 5 (38:44):
She's on the Money is general in nature and does
not consider.
Speaker 2 (38:47):
Your individual circumstances.
Speaker 5 (38:49):
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 PDA S TMD and obtain appropriate financial advice
tailored towards your needs. Victoria Divine and Sheese on the
Money are authorized representatives of Money.
Speaker 2 (39:09):
Sheper p t Y lt D.
Speaker 5 (39:10):
A b N three two one is six four nine
two seven seven zero eight A F s L four
five one two eight nine
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