August 27, 2026 • 37 mins
New intro, who dis? This week’s Friday Drinks is hosted by Victoria Devine, your favourite linen lover Jessica Ricci, and budding ceramicist Bec Syed.
During this episode, the gang will be bringing you the very best Money Wins, Broke Tips and polarising opinions of the week. They will be having a heated chat about superior sundae toppings and whether choc mint is ever a welcomed flavour sensation.
They’ll also be covering your Money Dilemmas concerning debt, and a mysterious deposit of *checks notes* $10k. Very saucy indeed. And we’re not just talking about the hot fudge in your sundae. Tune in for compelling arguments for putting your Mint Slice in the fridge, and validation for folks with misophonia (specifically an aversion to chewing sounds) but for food wrappers. #strawberrysundaegate
PAY IT DOWN, BABY: Debt diminishing episodes delivered straight to your ears over here and at https://open.spotify.com/playlist/02sw2NObvt18jd0ayvIHn3
SHOW ME THE MONEY: No rly, show us your coin collection over at our Facebook Group (Search for: ShesontheMoneyAUS) AKA the ultimate support network for money advice and inspiration. Ask questions, share tips, and celebrate your wins with a like-minded crew of 300,000+.
HOW TO MAKE YOUR RICHES, MAKE RICHES: A lot of what the rich do is stuff that’s actually learnable. We break it down for you over here on the blog. Search ‘richer’ at shesonthemoney.com/blog
New here? Follow us on Instagram (@shesonthemoneyaus) for Q&As, bite-sized advice, daily money inspo... and relatable money memes that just get you.
Acknowledgement of Country By Nartarsha Bamblett (nartarshabamblett.com.au)
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 - 4451289
See omnystudio.com/listener for privacy information.
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Speaker 1 (00:00):
My name's Tatasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya Niana,
kaka ya Ya Binahwaka Nian our gay In Mbini, yakarum Jar,
Dominyamiga Umaga, Ihowaka, Nile, Waman damon Immalan, Bumba bang gadaboma
In and now in wakah ghana on yak raum Jar Watanada. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Aberiginal people's land that
we're gathering on today. Take pleasure in all the land
and respect all that you see. She's on the Money
podcast acknowledges culture, country, community and connections, bringing you the tools,
knowledge and resources for you to thrive.
Speaker 2 (00:44):
She's on the Money. She's on the Money.
Speaker 3 (00:50):
Hello, my friends, and welcome to She's on the Money,
the podcast where we usually discuss all of the issues
containing your wealth goals so that you can feel more
confident and in control of your financial future. But on
Fridays we park the more serious topics in favor of
something a little bit more casual. At Friday Drinks, you
can expect entertaining questions from our community, the odd money
(01:12):
related dilemma, and insightful yaps with our two favorite podcast
co hosts, Miss Bech Sayed and Miss Jessicci. Now, if
you aren't already acquainted, Miss Bech Sayed is a casual worker,
part time holiday and lover of ceramics, and Jess is
a full time partnership scal part time ballerina, and linen.
Speaker 4 (01:33):
Sheets enthusiast fun.
Speaker 3 (01:36):
Together, they will bring money, wins and broke tips from
the community because together, knowledge is power. My friends and
welcome to Friday Drinks. Did you like my little intro?
Speaker 4 (01:46):
Yes?
Speaker 3 (01:47):
I like that we have a heap of new friends,
and I was like, we probably should introduce you. Oh true,
you love ceramics, you love linen.
Speaker 4 (01:56):
It makes sense.
Speaker 5 (01:57):
That's so cute and everyone's in a while. We can
just change it up and make it so funny and random. Yeah,
I'm onto it, cooky girl.
Speaker 3 (02:05):
But someone messaged me and they're like Beck and Jess
they never seem to have, like, you know, really strong
financial opinions.
Speaker 4 (02:12):
And I was like, yeah, that's my job.
Speaker 3 (02:14):
We've got Lynnen lover's queen here and ceramics queen and sorry,
really smart women, but you're not the finance expert.
Speaker 2 (02:22):
No no, and we don't claim to be.
Speaker 3 (02:25):
They bring the vibes anyway. I've been informed that this
week's dilemma is a little bit peculiar. In fact, this
person has come into a sum of money and is
asking for the best way to invest it. And the
community has also shared a pretty stellar DM with us
concerning debt and whether it's best to pay some off
(02:46):
and park the others and what you should do in
that situation. But before all of that, you know what
time it is. I'm keeping this normal. It's time for
a five star review. This one comes from Katie, who
writes the pod. Guys, I've learned so much from just
listening on my walks or in the car, and it
never feels preachy or overwhelming.
Speaker 4 (03:07):
We should try harder.
Speaker 3 (03:08):
We definitely one I keep coming back to every single week.
Speaker 4 (03:14):
I love it's nice so much, Katie. We need to
try harder to be preachier.
Speaker 2 (03:19):
Thank you so much.
Speaker 3 (03:20):
This so sweet, exactly, and thank you for sharing all
those moments with us and all of the moments in between. Katie,
we are so glad to hear that those I guess
money facts are coming in loud and clear. My friends,
if you've got a review to share with us but
haven't written it yet, now is your time to shine.
Please get typing and share your five star reviews with
us on Apple podcast or Spotify or wherever. Honestly, we
(03:42):
read them out. If we get them in a DM,
we read them out. If we get them in bex dms,
I'll take them. However, you will give them, and we
love hearing from you. Plus you might get a shout
out in next week's episode. But before we get into it,
let's go to a really quick break. All right, guys,
we aren't back beck. Yes, it is time for our
(04:05):
question of the week. I love this.
Speaker 4 (04:07):
We put a call out to our Facebook.
Speaker 3 (04:08):
Community to share their best non finance related questions for us,
and they never ever disappoint. This week's question is quite
polarizing in certain circles, but I'm sure we can bridge
the divide here.
Speaker 4 (04:20):
Are you ready chalk mint?
Speaker 3 (04:23):
Is it a refreshing flavor sensation or toothpaste showing up
in your ice cream?
Speaker 5 (04:27):
On it?
Speaker 2 (04:29):
Hah?
Speaker 4 (04:31):
I don't mind it. What I do like is a
min slice the chocolate bestia.
Speaker 5 (04:37):
What I was going to say is like I would
never pick up a chalk mint ice cream. Is my
ice cream a choice? But I don't mind the mint SLI.
Speaker 4 (04:43):
Don't mind hit them in the fridge. The mint slice, Yes,
you have to put them in the fridge.
Speaker 3 (04:47):
It's that's so oh you both need canceling in slice
and carrying crowns.
Speaker 4 (04:54):
Both live in the fridge.
Speaker 5 (04:55):
Okay, but the caramel, no, it's chewy. I guess so
I like's a little soft and melty. Yeah, yeah, I
like a little soft too, Personally exactly the same. I'm
going to go mint sliced biscuit. I would actively.
Speaker 4 (05:10):
Crave one of those, But I've never craved a mint
chocolate outside of that, and that includes really chocolate ice cream,
because like, why if I'm going to get a dessert
an ice cream, I'm not that that's kind of silly.
There's a million others you're.
Speaker 3 (05:28):
Not going to go with a mint wait, hold on,
hold on, hold on. We're not all going to the
movies and getting a mint chalk top controversial opinion. I
don't like a chalk chop for the movies.
Speaker 4 (05:37):
I'm saying I.
Speaker 6 (05:38):
Don't like it.
Speaker 2 (05:42):
Right, so messy to eat, and I why I'm messy
to eat? The chocolate falls off.
Speaker 5 (05:50):
I'm a messy you like I just if I'm eating
an ice cream in the dark, I'm coming out with
ice cream.
Speaker 2 (05:54):
On me, I hear. And beyond that, I hate people
prinkling the.
Speaker 5 (06:00):
Wrapper, Like if you're in acting, you'd better have opened
that before the previews and started.
Speaker 2 (06:04):
If the movie started and.
Speaker 5 (06:05):
You're unwrapping your chok top, I'm internally screaming at you.
I would have never turned around to do it, but
on the inside, I am that'stic at you.
Speaker 3 (06:15):
Yes, okay, So my hierarchy of chok top flavors, please
min chuck Chip at the top, boison berry bottom.
Speaker 2 (06:25):
No see, I was gonna say the only one I
would eat would be boisonberry.
Speaker 4 (06:27):
No Boisoberry at the bottom.
Speaker 3 (06:28):
And you know I said that because I knew you
would jump in and send poison berry was your favorite.
Because this woman, if she gets an ice cream from McDonald's,
her choice is strawberry Sunday.
Speaker 4 (06:40):
Okay, well that's crazy.
Speaker 2 (06:41):
I fear that.
Speaker 4 (06:45):
She wasn't around. That was Georgia King. Wow, Georgia King.
Speaker 3 (06:48):
And I tried to boycott the Strawberry Sunday but you're
Caromel No oh yes.
Speaker 2 (06:53):
No, I don't see.
Speaker 5 (06:54):
You can't even talk to jets right now because those
are both insane chocolate Sunday. So convinced that I was right,
I put it on our incidence is years ago. I
pulled it on our Instagram and I said, guys, like,
which is the superior flavor? Obviously Strawberry? Like three percent
of people agreed with me, and I was it. I
(07:15):
haven't been here from the start.
Speaker 3 (07:16):
I think you remember Strawberry Sunday Gate because it went
on for a couple of weeks. Yeah, and then when
I was pregnant with Campbell, I had to eat my
words because that's all I wanted to eat.
Speaker 1 (07:26):
Interesting.
Speaker 3 (07:27):
And now I'm not pregnant, I am back to usual
programming and that's crazy, Jessica Hosty.
Speaker 2 (07:33):
Anybody or my Strawberry girls out there? We write no,
we don't know.
Speaker 4 (07:38):
Probably zero people that are listening to me, like not
on c We also had a.
Speaker 3 (07:43):
Similar debate coincidentally in the Zella office last week because
I went to the supermarket and realized they have a
whole heap of different flavor oreos and so I bought
a whole heap of different packets of oreos for the
team to try.
Speaker 4 (07:58):
Did you know they do a sour patch kids oreo.
Speaker 2 (08:00):
I don't think I'm into that.
Speaker 4 (08:02):
I'm not into It smelt like lime and it tasted
like sherbet.
Speaker 2 (08:06):
No thank you.
Speaker 4 (08:07):
But they had a chok mint one.
Speaker 2 (08:09):
I can see that being good.
Speaker 4 (08:11):
Yeah, And so I brought it into.
Speaker 3 (08:12):
The office and I said, guys, these were a dollar
sixty at Woolies.
Speaker 4 (08:16):
So I bought all of the flavors and I brought
them to you for a taste test. Yeah, okay.
Speaker 3 (08:21):
And then a lot of them were like, where are
the normal oreos? And I was like, I did not
buy normal oreos because I found chok mint ones. So
I got two sleeves of chalk.
Speaker 2 (08:30):
Milk once because obviously everyone's gonna want them.
Speaker 3 (08:34):
No, I got canceled. I nearly got kicked out of
my own office. People were refusing to try them. The
people that did try them spat them out like dramatic.
They were so dramatic at the originals.
Speaker 5 (08:46):
If you're getting all of them, sorry, okay, I think
if you've got ten fun flavors, do you need the
plane on Yeah, that's what color cleanser controversial and.
Speaker 4 (08:55):
There's a Karra milk flavor.
Speaker 2 (08:58):
Anyway, So you're just to be clear. You're also team
pro mint ice.
Speaker 3 (09:03):
Cream and pro miin ice cream. In fact, I love
the cheaper the better. Like I don't want fancy chalk
Min ice cream. It has to be is it like
buller or in the red Tub?
Speaker 4 (09:13):
I don't know what one that is.
Speaker 3 (09:14):
I think that's the superior one for me. Yeah, so
chok min ice cream with ice magic on top, because
I want that choc top experience.
Speaker 2 (09:23):
Jessica, at home, I do hard chocolate.
Speaker 4 (09:27):
I just don't like it with a you gonna have
a fudge. You gonna have a fudge chocolate Minfretto delicious.
Speaker 3 (09:33):
I gotta say, do you know what I just I
don't know why we're so different, Like I just like
I don't know if I can see past these differences.
Speaker 2 (09:41):
We you know what, all unique perspectives are beautiful.
Speaker 4 (09:44):
It's beautiful.
Speaker 3 (09:46):
I believe the community has their answer on what our
views on chalk Mian ice cream are. And if there
is a question that you are dying for us to
answer on the pod, please send us a DM because
we cannot wait to hear it now It's just GOTTRICI.
Speaker 4 (10:01):
I'm curious. Does our community have anything to celebrate with
us this week? Perhaps some money wins.
Speaker 2 (10:06):
You know that they do.
Speaker 5 (10:07):
There were so many good ones in the thread this week. Firstly,
Natasha said, I put an offer for an apartment fifteen
thousand dollars under the starting prize and it was accepted.
Hopefully this is the start to more price drops for
people looking to get into their first homes. Adore really
really exciting. If you don't ask, you don't get literally,
then I've got a money in from Estelle, who said
I deleted Uber Eats a couple of months ago. Cut
(10:29):
to last weekend, I was sick on the couch with
a cold and I needed a delivery. Upon reinstalling the app,
I got an offer for twenty dollars off of my
first order over twenty five stop cheap dinner coming for
it for me.
Speaker 4 (10:40):
Amazing love that.
Speaker 2 (10:41):
Maybe just try Delinien. See what happened.
Speaker 4 (10:43):
I told you guys, you need to threaten your apps.
You need to threaten your subscription.
Speaker 2 (10:47):
Yeah, and then they'll come through the goods.
Speaker 5 (10:49):
Then I've got money in from Angela, who said she
got one hundred dollars back from Irong Bank.
Speaker 2 (10:54):
They do cash back on eligible utility bills money.
Speaker 5 (10:57):
She had no idea, so if anyone's with Ing Bank, okay,
I would be looking into that. Kate said she's been
stacking the end of financial year sales with redeeming points
vouchers and using shot back and getting just a huge
money wins all round. Then I've got a money win
from Ariel who said, let crusay it was thirty percent
off on Meyer, shot Back had nine percent, Westpac had
additional bonuses, and she had an extra seventy dollars.
Speaker 4 (11:19):
Cash backed stop it. She's stacky, I have stacky.
Speaker 5 (11:22):
Staky said it pays to keep things on your wish list,
monitor the sales, and wait to stack things up. Hell yeah,
that's a very very impressive. Well done, Aeriel. And then
lastly this week, I've got a money win from Belinda,
who said, I listened to the end of Financial year
episode where you mentioned you can claim your ongoing financial
advisor costs.
Speaker 4 (11:40):
You can yeh.
Speaker 5 (11:40):
She didn't know that, so she made an amendment to
the last two years worth of tax returns and got
a refund from the eightier.
Speaker 4 (11:46):
Of seven hundred and five dollars.
Speaker 5 (11:48):
Stop, how good is that? And then Belinda shout out Queen.
She's always in the Facebook group. I see her commenting
all the time. Someone said, ooh, can you tell me more?
Speaker 2 (11:55):
And she goes. Listen to the end of Financial Year
Tax Taps, episode twenty seven minutes in Oh my God,
drop snaps for Belinda. She's out here doing the good work.
Speaker 4 (12:06):
Thank you, Belinda. I'm gonna need that too, all right.
Speaker 3 (12:09):
I feel like that is a really good rap of
the community this week. Beck Every time I think, damn
things are hard out there, our community comes through with
a broke tip that just brings me a little bit
of hope. What tips can you share with us this week?
Speaker 4 (12:22):
Okay, So I'm so sorry, Jess. My broke tip is
going to sound very similar. This one's from Yasmin, though,
so Yasmin said, and it is crazy. I didn't know
you could do this, yasm said. I edited my tax
return from twenty twenty three to twenty twenty four as
I realized it with things I could have claimed but didn't.
On Wednesday, I received over five hundred dollars in my
bank account. And so this is a really good reminder
(12:42):
that because I did not know you could do this.
So if there's anyone out there who's like, oh I
didn't know, I could claim that you can go back
and a mend it.
Speaker 1 (12:48):
Yeah.
Speaker 4 (12:49):
Hell, that's incredible. And the next one comes from Kirston,
who says I was spending way too much money on
my ice long blacks after many US trips and seeing
the big bottles of cold brew. I'd been waiting for
something similar over here. Oh, it's it here now it's yeah,
we're always now selling coffee shots by the goon bag.
That's one point five dead us one point five leaders
(13:10):
for eighteen dollars seconds to make before work. Just adding
ice and cold water to the coffee. Massive money win
for me.
Speaker 5 (13:16):
Stop it.
Speaker 2 (13:17):
Yeah, I just loved a little mixy.
Speaker 3 (13:19):
Yeah, Like every time we've been to America, which is
kind of crazy that we say every time we've been
to America, Jess, I go to the supermarket and we
get like breakfast items so that we can have breakfast
in our hotel room or at our apartment or whatever.
And I'm always buying the like pre done like Starbucks
coffees to mix with milk in.
Speaker 4 (13:40):
The room because they're good.
Speaker 3 (13:42):
Yeah, yeah, yeah, well now they have it here in
goon bag form. I don't know if I can get
around the Australia.
Speaker 4 (13:48):
Australia. It's a beautiful box and you won't even see it,
you know when you pop the tip out and you yeah,
I do because freddy Lexia makes you sexyer? Do you
really think that I have come from like classy upbringing? No,
goombag's also gorgeous color.
Speaker 3 (14:02):
Yeah, and you can blow them up as decoration when
you're done, Yes, exactly, in a little cushion exactly.
Speaker 4 (14:08):
And then my one. Have you guys heard of the
coin collector? Well, I'll tell you I have.
Speaker 3 (14:14):
Yes, I know am on You and I are on
the same like wavelength this week on basically everything.
Speaker 4 (14:21):
Yeah, it's so weird.
Speaker 2 (14:23):
I don't know what you're talking about.
Speaker 4 (14:24):
So on Instagram, his handle is coin Collecting underscore Detecting.
So this guy searches for coins that are worth more
than their original value. Some coins are only worth a
few dollars more, but it's still more than you initially had,
so he will kind of like go to the bank
and exchange ten dollar note for ten one dollar coins
and the little rolly thing.
Speaker 3 (14:42):
He makes fears if you're flipping through the coins and
his knowledge is insane, Jess.
Speaker 4 (14:47):
Yeah, and like every coin to like one dollar, fifty cents,
et cetera. And then he will kind of like be like, oh, see,
so what you're looking for here? And he'll go to
check his little list and be like this coin is
worth two dollars eighty four and it's like one doll
eighty for more. But it's like that was once one dollar,
now it's worth two dollars, you know, I mean cool.
Speaker 2 (15:05):
Like you've doubled your money, doubled your money. Then how
do you like where do you sell.
Speaker 4 (15:08):
The well in the coin selling websites?
Speaker 7 (15:10):
Yes?
Speaker 4 (15:11):
Or eBay?
Speaker 5 (15:12):
Yeah?
Speaker 4 (15:12):
Yeah, that's great because I'm trying to feel that too. Yeah,
you can sell them on eBay.
Speaker 2 (15:16):
They're a market to buy the two dollar coin that's
three dollars.
Speaker 3 (15:20):
There is And it's kind of crazy because like there's
this like niche community of coin collectors who want the
one dollar coin with the slight defect and like really yes,
and like it's so funny because I watched these videos
at three am when I'm breastfeeding and he flipped through
the coin. He goes, Yep, that one's from nineteen seventy four.
That won't be worth anything. This one, this one, look,
(15:41):
that's nineteen sixty three, and like it's crazy. And by
the way, nineteen sixty three, we didn't even have that coin,
so I'm making that up.
Speaker 4 (15:49):
But you know what I mean.
Speaker 3 (15:50):
So the coins and then he's like, oh, this was
a centennial coin and I'm like, a what, Like, yeah,
it's just really interesting.
Speaker 4 (15:57):
It's so interesting. You know the little cigarette holder in
your can't I have coins in there? And I found
one the other day. There was like apparently one dollar something,
but then who cares? It was more than you had.
It's someone something on eBay for like two thousand dollars,
so I'm like, what, but I don't think it is
worth No one's bought it yet, but I'm like, I
could put it up there two thousand, just see how
we go undercut.
Speaker 2 (16:17):
Them listed for fifteen hundreds. What happens, Well, that's exactly right.
Speaker 4 (16:21):
Oh my god, it's so good. So I'd say check
it out. And if you have some coins lay around,
you might be sitting on a gold mine. You fantastic.
Speaker 3 (16:31):
Alright, guys, let's go to a really quick break because
there's obviously so much gold in the She's on the Money.
Speaker 4 (16:38):
Community, and I love it.
Speaker 2 (16:41):
Good, but I appreciate it.
Speaker 4 (16:43):
Thank you.
Speaker 3 (16:43):
Please look us up on Facebook and join our group
where you can share your own coin collection, or simply
have a perv at the money winds that beck and
just share with us. Every single week, after the break,
we're going to dive into this week's money dilemma.
Speaker 4 (16:57):
Please stay tuned.
Speaker 2 (17:02):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 6 (17:07):
Hi, there, have you got a money dilemma you just
can't solve That She's on the Money team is here
to help. Every week, we tackle your dilemmas, both big
and small, to answer your most burning money, career and
life questions. To get involved, simply head to our website
and leave us a short voice recording and you might
just find yourself on the show.
Speaker 4 (17:25):
Now, let's take a listen to this week's money dilemma.
Speaker 7 (17:31):
Hi, She's on the Money. I love the podcast. I've
been listening for almost a year now, and my money
dilemma is I've just checked my bank account and I've
been sent ten thousand dollars from a family friend. There
was no description or anythink like that, and I haven't
(17:52):
seen this family friend in maybe a year. A couple
months ago, I sent them a message saying I didn't
want to be in their life anymore, but I'm grateful
for everything they've done for me. Because the family friend
did live with me and my family for quite a
while and then they're left quite abruptly a couple of
years ago. I had quite a difficult relationship with them,
(18:13):
and they also had quite a turbulent relationship with my
mom and my sister. And I'm not too sure what
to do about the money because I feel bad keeping
it because I'm obviously not in contact with her, and
I'm not sure if maybe something's going on in her
life she's sick or unwell, because I've also had that
(18:33):
I'm in her will. But then also I'm a full
time student, I'm also working full time, and that money
would really help me and my sister and my mom,
and I'm trying really really hard to save and it's
very difficult. So please let me know any thoughts or
advice you have.
Speaker 4 (18:51):
I really appreciate it.
Speaker 5 (18:53):
This is diabolical, God, but like, isn't it the dream
to just wake up be like, Wow, someone gifted me
ten thousand dollars.
Speaker 4 (18:58):
So when it happens in reality, you're like, what the hell,
what do we do?
Speaker 2 (19:02):
Stressful?
Speaker 4 (19:02):
I really want to know if it's.
Speaker 5 (19:05):
Yeah.
Speaker 4 (19:06):
First of all, I'm really sorry to hear, and it's
really good that you could recognize even though it might
have been really hard to be like, oh, this person
isn't good for me and good for my life and
that's very hard decision to make, but really proud of you.
First of all, I'm just going to assume it wasn't
an accident, because that would be like if you haven't
spoken to them, then maybe, but it's not. And so
(19:26):
for that, I would just say, if I imagine winning
the lotto, I really just want to give everyone like
a bunch of money. And I know that, like it's
obviously a very different scenario, but in these situations where
you maybe have the means to do that, you really
want to. And I know that being on the receiving
end is like crazy, it's just that you don't feel worthy,
don't feel like you want to make sure that you're
(19:48):
doing good with this money. But I think take the
pressure off assuming it wasn't an accident. This person wanted
to give this money to you, and they wanted to
probably help, and so it seems like in your situation
you're st mean to save, like it seemed like it
came at the perfect time, and I'm sure that they
would really want to know that it is helping you
in some ways. So I think, do with it whatever
you feel like you want to. And Victoria made a
(20:10):
beautiful Freudian slip earlier and said how you would spend
I mean invest it, And so I'm thinking, I'm thinking
Victoria wants you to spend that money was not permission,
So definitely use it to better your life, better your circumstance,
(20:31):
and just treat it as a gift to you and
your family.
Speaker 2 (20:35):
I agree, I think you need to check that it
wasn't an accident. I just know that this would eat
me up.
Speaker 5 (20:40):
And I think that, like with modern day banking, we've
all done it, We've all sent it to like the
wrong Jessica or the wrong person, and I think, like,
especially because there's no information or context, I just think
morally the right thing you would just be like to
send an email or a text. Wo'd be like, hey,
this popped up in my account. I just wanted to
check was it in tech to come to me? And
(21:01):
then if they say yes, then you have that knowledge
and you can kind of proceed from there. But otherwise
you're going, well, why do I have it? Why is
it here?
Speaker 2 (21:09):
With that being said, it would be naive not to
acknowledge that.
Speaker 5 (21:13):
There's a very good chance that this is a little
bit of manipulation really and that they live truly where I.
Speaker 4 (21:17):
Was going to go with it, I was like, yes,
this is coercive control.
Speaker 5 (21:21):
Yeah, and they've sent you the money to force you
to talk to them. I mean, it's really up to
you to talk to you for ten grand?
Speaker 2 (21:28):
Yeah, I love.
Speaker 5 (21:29):
This is the thing is I think that even if
you would have messaged them and say, hey, like this
ten grand's popped up, like just want to check it
was intended for me, And if they then tried to
guilt trip you or say something say yes I'm experiencing
a tough time or I've won the lotto or whatever,
I miss you and I just wanted to da da
da da, you are then well within your rights to
set the boundary once you know that that was the intention,
like it was intended to come to you, like if
(21:50):
you don't want to reply after that.
Speaker 2 (21:52):
If you that's totally fine.
Speaker 5 (21:53):
Really, I think whatever boundaries you've set, you are well
within your rights to enforce those, and this money should
not change that. With that being said, the goal may
have been, or the hope may have been from the
person sending it to you, that the money would change that,
and that you would feel guilty and it would reopen
the relationship or open a conversation or whatever.
Speaker 2 (22:12):
That looks like.
Speaker 5 (22:14):
You're allowed to set and hold those boundaries irrespective of
whether or not you know they give you money. But
if they did give it to you and it was
a gift, then you know that theoretically should come with
those strings. That's what we always say, A gift comes
with no expectations attached.
Speaker 3 (22:28):
Exactly what do you think they're I think it's crazy.
Who does that, Like doesn't talk to someone and then
gives them ten grand Like that's not like, oh, I
transferred you one hundred dollars because like years ago I
owed you one hundred dollars and I'm finally paying it back,
Like this is a different story anyway. I just yeah,
I would want to check that it wasn't a mistake,
(22:49):
and I would want to make sure that I understood
the intention behind it. Is it bad that my brain
went immediately to its manipulative it's control, Like, that's not
cool from my brain. But I think it's important to
check that it's not those things, and then if it is,
it is. If it isn't, it isn't. But I would,
I guess, proceed with caution, and to be honest, I
(23:11):
wouldn't be spending a dollar of it until you understand
that it wasn't a mistake, because it would be very
awkward if they go, hey, I'm so sorry, Jess. I
know you drew this boundary with me, but now I
have to reach out to you because I accidently I
transferred to you, you know, ten grand and it was
actually meant to go to my other friend Jess, or
it was meant to be my rent, or it was
(23:32):
meant to be something else, and you go, sorry, I
already spent it.
Speaker 4 (23:35):
Yeah, like that would be awkward. So that's where I
would go.
Speaker 2 (23:39):
Yeah, I totally agree.
Speaker 4 (23:41):
Good call.
Speaker 2 (23:41):
SHO move into this week's dilemma.
Speaker 4 (23:43):
We absolutely should.
Speaker 3 (23:45):
This one is actually something we hear about all too often,
so I hope we can share some I guess helpful opinions,
thoughts and feelings with you. So they wrote, Hi, Victoria,
I'm twenty nine and I earn around one hundred and five.
Speaker 4 (23:59):
Dollars a year.
Speaker 3 (24:00):
I've worked really hard to get myself into a good
financial position, and I've managed to say about thirty five
thousand dollars. But I also have an eighteen thousand dollar
hex debt and a twelve thousand dollars car loan. My
goal is to buy my first home in the next
couple of years, so I know that having cash behind
me is really important. But every time I see my
(24:20):
car loan now my HEXT balance, I just want to
pay it off and be absolutely done with it. I
keep hearing people say not all debt is bad debt,
but honestly, I just hate owing money. I'm so torn
between using my savings to clear these up and enjoying
the peace of mind, or leaving my savings alone because
I know I'll probably need them for a house deposit
and emergencies. How do you know when it's worth paying
(24:43):
off a debt early and when you're actually better off
keeping the cash.
Speaker 4 (24:50):
Thoughts?
Speaker 5 (24:50):
You know, the hex element We've said many, many, many times.
HEX is, you know, not the worst debt to have.
It's index you're not paying hectic interest on it.
Speaker 2 (24:58):
It dies when you die.
Speaker 5 (24:59):
More with the true I would not be too concerned
about the HEX. If I was you the car loan,
I would be more concerned about. I think though, when
you say you might need the money for emergencies, I
would like to understand do you have an emergency fund?
Because I think before you go spending all the money
you have, or like a good chunk of the money
that you have, it wouldn't be all of it paying
off that debt. Do you have enough to cover yourself
(25:24):
for however many months? So like, have you got an
emergency fund or is that pool of thirty five thousand
every cent that you have to your name. If so,
potentially you might not need a thirty five thousand dollars
emergency fund. Can you split some of that off depending
on your interest rate on the car loan, That's when
I would be assessing as to whether or not it's
worth paying it off early. I just know that over
(25:44):
the term of a car loan, you end up paying
sometimes almost double the cost of your car, and so
I do feel like I mean, I personally just don't
love the idea of paying interest on things if I
don't have to keep in mind, when you have a
mortgage as well, You're mortgage is subject to change. Like
ook at how many times the rates have gone up
in the past few years. So while you might say, well,
(26:05):
thirty five thousand dollars is enough for my deposit, congratulations,
by the way, I'm saving such a huge sum of money,
and that's a really exciting time. I think that not
having that additional debt would probably free up your cash flow,
so that if there were changes with your mortgage, you know,
that would be a little easier on you. But all
of this will be taken into account if you speak
to a mortgage broker, who will look at your assets,
(26:27):
your liabilities and kind of give you the breakdown.
Speaker 4 (26:31):
Exactly. Has just said congratulations, and that's huge, quite a
feat And this isn't very helpful. But I'm always confused
by car loans because I'm like, I guess I would
need one too. I don't really have savings. If my
car broke, I would, you know, touch wood, I would
need to get take out a loan to get a
new one. But that isn't to say that I would
get like a big car. I know that people have
families that need big cars, but I'm like, that's one
(26:52):
thing that I've never understood why people need to spend
so much on it.
Speaker 5 (26:57):
Like it's not the amount that people spend on cars. Yeah,
I know, like people getting loans for you know, thirty
to fifty thousand dollars back. And I understand cars are
expensive and safety and dada da, all of those things.
Like I'm not having a go with anyone who's bought
a new car, but you can just buy a car
for sub ten thousands dollars a job, getting lots of
factors to consider, anxiety.
Speaker 2 (27:18):
And your team.
Speaker 3 (27:18):
Jess like, yeah, obviously it is an absolute privilege to
say this, but if you can't buy it outright, you
need to be having a really good think about why
you want that particular model.
Speaker 4 (27:28):
And that particular car. Yeah, exactly. And I think you know,
the safety standards and the safety features have they kind
of started coming around like twenty ten. At that point,
they're like super safe. So anything in the last like
fifteen years, you're guaranteed to get like a pretty safe car.
So you could definitely go cheaper. But anyway, not to
say that you know it's done now and you have
(27:48):
a beautiful car hopefully, But yeah, I would say, yes,
don't worry about hex at all. It sounds very similar
to jest, don't worry about hex, try and pay that debt. Yeah,
I guess like it depends on the interest rate, but
I know that you storically and maybe like famously, they're
not known for having very fair interest rights and you
kind of pay some money. So even like, and I
don't know if this is the best thing to do,
(28:11):
but I would even look at maybe alone that has
a better interest rate. That's not necessarily car loan that
is just I feel like adding cards, like adding the
word wedding to an event and everything goes up a
million dollars, And so having a regular loan that is
just like way less interest and you know you've done
your research on there. Maybe you've got some benefits of
(28:31):
freedom fly points or something some random things like that,
like have a shop round for a cheaper thing or
something that will cost you less in the long run
and see if you can paid off with that. And
I know it's Victory's probably angry that I'm suggesting getting
to know expam, but that is maybe what I would
do well, trying to paid off quickly, but don't maybe
touch too much of your savings.
Speaker 3 (28:50):
Yeah, I think I'm just gonna lean into what Jess said.
Go talk to a mortgage broker, because we have seen
people in our business before who have paid off their
HEX debt and gone, oh, I paid off my HEX
and you know it meant that I had to save
for another year and a half and we go, oh cool,
(29:10):
you didn't have to pay off your debt. You could
have afforded a house a year and a half ago
and the HEX set wouldn't have impacted your serviceability enough
to be a worry. And again, the debt doesn't feel
good and you want to get rid of it, But
talk to a broker because they'll be able to give
you a strategy of getting into your first home and
what that will look like. We deal with people who
have debt all the time. But the important thing is
(29:32):
having a conversation because your broker might go, yep, if
you can get rid of that car Loan, don't worry
about the HEX, this is the strategy, or they might
go okay, well, your serviceability with the car loan and
with the HEX looks like X. But if you did this,
it would look like why go and get some advice
from someone who can actually look at your numbers, don't
you know? Put your hand up and be like, oh,
(29:53):
I'm just going to make a decision that I think
makes sense. Seeing a mortgage broker is free. Go and
get the free advice and put yourself in the best
possible financial position. But also leaning into what Jess said,
it sounds like you've just got thirty five thousand dollars
in savings and that's cool, but I need you to
carve some of that off for your emergency fund and
putting that to the side.
Speaker 4 (30:14):
To never touch.
Speaker 2 (30:17):
Or buy a house. So there are so many things
that just pop up there.
Speaker 3 (30:20):
Like exactly the money, Yeah, like it costs so much
money to have keys cut, Like that's crazy, that's a
niche personal reference, please disregard. So we also aside three
months and I will talk to you about that reference
you pin that and cut back and ask a jest.
Speaker 4 (30:36):
But not right now. We asked the community.
Speaker 3 (30:38):
Obviously, what debt would you tackle first? Maybe five percent
of you said the car loan, three percent said HEX,
and eleven percent of you said neither, I would keep saving. Okay, okay,
important to take into consideration that you would probably have
a relatively high interest rate on a car loan and
we don't want to pay that if.
Speaker 4 (30:57):
We don't have to. Yes, exactly, Sorry, I just rem
but that there are car loan brokers as well. There's
one in No like no Mark, you guys can brok
or you can just ask me, oh yeah, yeah, are
they different anyway you could like refinance a car loan specifically,
But they're all the same. Yeah you can, No, they're
not all the same.
Speaker 3 (31:12):
Zeller is better, Zeller is better, exactly exactly.
Speaker 2 (31:18):
She's always said that.
Speaker 4 (31:20):
What I've always said, I've never seen anybody else in
the entire market. But that's a really good point.
Speaker 3 (31:26):
You can talk to someone about that. But it's also,
I guess important if you did come to us for
a car loan, we do ask you a few questions
that someone who just buys and sells cars every day
they go, oh, yes, yeah, no worries, I can get
you a car loon full stop. My team are a
little bit more likely to go, oh yes, like I'm
really glad that you are buying a new car, Like
(31:47):
what's your financial situation?
Speaker 4 (31:49):
Like is that the right loan for you? Do you
think that that?
Speaker 3 (31:52):
Like, yes, I ask you a few more questions because yes,
we do it. Yeah, but we also want to make
sure that we're not writing loans that put you in
a worse off position. So maybe if you want to
be in a worse off position, go see a different broker.
Speaker 4 (32:05):
But like, yes, true, it's a stolen doing. We could
make so much more money if we had less morals.
I know, I'm so sorry. I thought they were because
car loan broker, mortgage brogger, but I think they probably know.
Speaker 3 (32:17):
There are people that only do houses. There are people
who do assets.
Speaker 1 (32:21):
All.
Speaker 4 (32:22):
Yeah, we do everything.
Speaker 3 (32:23):
We do residential, we do commercial, we do business loans,
we do asset finance, like we've financed lasers for people's
beauty therapy clinics. We see financed trucks and tractors for farming,
like we do everything.
Speaker 4 (32:37):
Oh amazing, it's crazy. It is really fun.
Speaker 3 (32:40):
Hell, well, someone comes around and you're like, I need
to buy attractor, and I'm like, well, let me work
out exactly how I do that. But I've got your
back anyway, I've done that one before. So you need
a new tractor, you come to me anyway. We also
asked the community, if you suddenly had enough money to
clear all of your debt, would you what do you
reckon that sits at Oh?
Speaker 5 (33:02):
I in my head, I'm imagining, like like our last question,
like a lot of it's just popped up in my account.
It's like if it did absolutely unclearing the debt.
Speaker 3 (33:09):
Who were well, only thirty nine percent of you said
immediately yes, really yeah, Forty three percent said it would
actually depend on the debt, seventeen percent said only some
of it, and two percent said no, I'd continue saving okay,
seeing I know, huh.
Speaker 5 (33:24):
Maybe some people are get agree to get some financial
advice because they come into a sum of money.
Speaker 3 (33:28):
The next question we asked was which would genuinely make
you feel more financially secure. We asked, would it be
being completely debt free or having a healthy savings account?
Speaker 2 (33:39):
Oh, that's a tough one.
Speaker 4 (33:41):
What do you reckon? The split was I reckon it's.
Speaker 2 (33:43):
Like fifty to fifty. I think thirty nine to fifty one?
Speaker 4 (33:46):
No one quick, I reckon mostly having healthy savings.
Speaker 3 (33:53):
Jess was right until she questioned us, yea it was
fifty to fifty exactly on the dots.
Speaker 2 (34:00):
That's crazy.
Speaker 1 (34:01):
Yeah.
Speaker 3 (34:02):
We then asked what's your two cents and you had
a lot to say, mostly get rid of the car loan,
but leave the hex debt.
Speaker 4 (34:10):
It will sit and pay itself down over timegally.
Speaker 3 (34:13):
Someone else said, pay the car loan post and then
speak to a broker about paying off a hex debt
and whether it's a good strategy. Someone said, define your
debts so it will make more sense. They said, if
you understand what is consumer debt and what is hex
and helpful debt, that might be helpful for you. Another
person said, if you have a healthy savings account, pause
that for a bit and then focus on the car
(34:34):
loan until it's paid off. Another person said good debt
and bad debt are different. Good debt is your home
loan that you'll get in the future, and a bad
debt is a car loan. Another person said, well, what's
better for you having extra money in shares or for
a home loan or extra money to pay off a
car loan, which I thought was really important. Another person said,
(34:55):
we refinanced our home recently and we all advised to
clear our car loan debt first, so that's a good
like I've done this for you. Another person said, if
one might help you sleep better at night, that's probably
the one you should prioritize, which I often say. Another
person said, if the loan term ends by the time
you're planning to buy anyway, maybe I wouldn't bother. So
(35:17):
there's a lot of like different things on the table,
I suppose about advice, but I think.
Speaker 4 (35:23):
My number one thing would be talked to a broker.
Speaker 3 (35:25):
Yeah, and just say, hey, I'm in a position where
I want to buy a house in the next three
to five years. I've got thirty five thousand dollars in savings,
I've got a car loan, got a hextet, here's my salary,
and a broker will be able to give you.
Speaker 4 (35:37):
A number of different scenarios.
Speaker 3 (35:40):
Well, this is what it would look like if you
paid off your car loan, this is what it would
look like if you had no hex debt, and then
you can make the decision that makes sense for you.
Speaker 5 (35:47):
Yeah, and if you want to know more about the
different kinds of debt, We've run an episode in our
summer series earlier in dr about managing debt. We'll link
in the show notes and that kind of goes over
you know, what is good debt, what is bad debt,
the things you might want to consider in a bit
more depth if you do want to go over that
and have a bit more understanding.
Speaker 4 (36:02):
We've got our fingers on the pulse. We know what
questions you guys have before we even have them exactly,
and we've already made that episode. All right.
Speaker 3 (36:09):
I think that this is unfortunately all we have time
for today, and at the end of the day, whatever
you decide should support your financial goals and your personal
money story, and it's your decision to make. We just
hear it away in with some helpful opinions, but opinions
are like we'll just move on from that anyway.
Speaker 4 (36:26):
My friends. That concludes our Friday Drinks episode.
Speaker 3 (36:30):
I hope that you've left feeling refreshed and invigorated for
the weekend that will be Thank you so much for
joining us for a little fizzy ddition if she's on
the money, and for being a part of our community.
Please make sure that you are subscribed so that you
never miss an episode, and we'll chat to you next week.
Speaker 4 (36:45):
Money Diary, Deep Dive.
Speaker 2 (36:46):
And all bye ay bye bye.
Speaker 6 (36:53):
The ad by shared on She's on the Money is
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She's on the Money exists purely for educational purposes and
should not be relied upon to make an investment or
financial decision. If you do choose to buy a financial product,
read the PDS TMD and obtain appropriate financial.
Speaker 4 (37:11):
Advice tailored towards your needs.
Speaker 6 (37:14):
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Speaker 6 (37:20):
A BN three two one six four nine two seven
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My name's Tatasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya Niana,
kaka ya Ya Binahwaka Nian our gay In Mbini, yakarum Jar,
Dominyamiga Umaga, Ihowaka, Nile, Waman damon Immalan, Bumba bang gadaboma
In and now in wakah ghana on yak raum Jar Watanada. Hello,
(00:22):
beautiful friends, we gather on the lands of the Aboriginal people.
We thank acknowledge and respect the Aberiginal people's land that
we're gathering on today. Take pleasure in all the land
and respect all that you see. She's on the Money
podcast acknowledges culture, country, community and connections, bringing you the tools,
knowledge and resources for you to thrive.
Speaker 2 (00:44):
She's on the Money. She's on the Money.
Speaker 3 (00:50):
Hello, my friends, and welcome to She's on the Money,
the podcast where we usually discuss all of the issues
containing your wealth goals so that you can feel more
confident and in control of your financial future. But on
Fridays we park the more serious topics in favor of
something a little bit more casual. At Friday Drinks, you
can expect entertaining questions from our community, the odd money
(01:12):
related dilemma, and insightful yaps with our two favorite podcast
co hosts, Miss Bech Sayed and Miss Jessicci. Now, if
you aren't already acquainted, Miss Bech Sayed is a casual worker,
part time holiday and lover of ceramics, and Jess is
a full time partnership scal part time ballerina, and linen.
Speaker 4 (01:33):
Sheets enthusiast fun.
Speaker 3 (01:36):
Together, they will bring money, wins and broke tips from
the community because together, knowledge is power. My friends and
welcome to Friday Drinks. Did you like my little intro?
Speaker 4 (01:46):
Yes?
Speaker 3 (01:47):
I like that we have a heap of new friends,
and I was like, we probably should introduce you. Oh true,
you love ceramics, you love linen.
Speaker 4 (01:56):
It makes sense.
Speaker 5 (01:57):
That's so cute and everyone's in a while. We can
just change it up and make it so funny and random. Yeah,
I'm onto it, cooky girl.
Speaker 3 (02:05):
But someone messaged me and they're like Beck and Jess
they never seem to have, like, you know, really strong
financial opinions.
Speaker 4 (02:12):
And I was like, yeah, that's my job.
Speaker 3 (02:14):
We've got Lynnen lover's queen here and ceramics queen and sorry,
really smart women, but you're not the finance expert.
Speaker 2 (02:22):
No no, and we don't claim to be.
Speaker 3 (02:25):
They bring the vibes anyway. I've been informed that this
week's dilemma is a little bit peculiar. In fact, this
person has come into a sum of money and is
asking for the best way to invest it. And the
community has also shared a pretty stellar DM with us
concerning debt and whether it's best to pay some off
(02:46):
and park the others and what you should do in
that situation. But before all of that, you know what
time it is. I'm keeping this normal. It's time for
a five star review. This one comes from Katie, who
writes the pod. Guys, I've learned so much from just
listening on my walks or in the car, and it
never feels preachy or overwhelming.
Speaker 4 (03:07):
We should try harder.
Speaker 3 (03:08):
We definitely one I keep coming back to every single week.
Speaker 4 (03:14):
I love it's nice so much, Katie. We need to
try harder to be preachier.
Speaker 2 (03:19):
Thank you so much.
Speaker 3 (03:20):
This so sweet, exactly, and thank you for sharing all
those moments with us and all of the moments in between. Katie,
we are so glad to hear that those I guess
money facts are coming in loud and clear. My friends,
if you've got a review to share with us but
haven't written it yet, now is your time to shine.
Please get typing and share your five star reviews with
us on Apple podcast or Spotify or wherever. Honestly, we
(03:42):
read them out. If we get them in a DM,
we read them out. If we get them in bex dms,
I'll take them. However, you will give them, and we
love hearing from you. Plus you might get a shout
out in next week's episode. But before we get into it,
let's go to a really quick break. All right, guys,
we aren't back beck. Yes, it is time for our
(04:05):
question of the week. I love this.
Speaker 4 (04:07):
We put a call out to our Facebook.
Speaker 3 (04:08):
Community to share their best non finance related questions for us,
and they never ever disappoint. This week's question is quite
polarizing in certain circles, but I'm sure we can bridge
the divide here.
Speaker 4 (04:20):
Are you ready chalk mint?
Speaker 3 (04:23):
Is it a refreshing flavor sensation or toothpaste showing up
in your ice cream?
Speaker 5 (04:27):
On it?
Speaker 2 (04:29):
Hah?
Speaker 4 (04:31):
I don't mind it. What I do like is a
min slice the chocolate bestia.
Speaker 5 (04:37):
What I was going to say is like I would
never pick up a chalk mint ice cream. Is my
ice cream a choice? But I don't mind the mint SLI.
Speaker 4 (04:43):
Don't mind hit them in the fridge. The mint slice, Yes,
you have to put them in the fridge.
Speaker 3 (04:47):
It's that's so oh you both need canceling in slice
and carrying crowns.
Speaker 4 (04:54):
Both live in the fridge.
Speaker 5 (04:55):
Okay, but the caramel, no, it's chewy. I guess so
I like's a little soft and melty. Yeah, yeah, I
like a little soft too, Personally exactly the same. I'm
going to go mint sliced biscuit. I would actively.
Speaker 4 (05:10):
Crave one of those, But I've never craved a mint
chocolate outside of that, and that includes really chocolate ice cream,
because like, why if I'm going to get a dessert
an ice cream, I'm not that that's kind of silly.
There's a million others you're.
Speaker 3 (05:28):
Not going to go with a mint wait, hold on,
hold on, hold on. We're not all going to the
movies and getting a mint chalk top controversial opinion. I
don't like a chalk chop for the movies.
Speaker 4 (05:37):
I'm saying I.
Speaker 6 (05:38):
Don't like it.
Speaker 2 (05:42):
Right, so messy to eat, and I why I'm messy
to eat? The chocolate falls off.
Speaker 5 (05:50):
I'm a messy you like I just if I'm eating
an ice cream in the dark, I'm coming out with
ice cream.
Speaker 2 (05:54):
On me, I hear. And beyond that, I hate people
prinkling the.
Speaker 5 (06:00):
Wrapper, Like if you're in acting, you'd better have opened
that before the previews and started.
Speaker 2 (06:04):
If the movie started and.
Speaker 5 (06:05):
You're unwrapping your chok top, I'm internally screaming at you.
I would have never turned around to do it, but
on the inside, I am that'stic at you.
Speaker 3 (06:15):
Yes, okay, So my hierarchy of chok top flavors, please
min chuck Chip at the top, boison berry bottom.
Speaker 2 (06:25):
No see, I was gonna say the only one I
would eat would be boisonberry.
Speaker 4 (06:27):
No Boisoberry at the bottom.
Speaker 3 (06:28):
And you know I said that because I knew you
would jump in and send poison berry was your favorite.
Because this woman, if she gets an ice cream from McDonald's,
her choice is strawberry Sunday.
Speaker 4 (06:40):
Okay, well that's crazy.
Speaker 2 (06:41):
I fear that.
Speaker 4 (06:45):
She wasn't around. That was Georgia King. Wow, Georgia King.
Speaker 3 (06:48):
And I tried to boycott the Strawberry Sunday but you're
Caromel No oh yes.
Speaker 2 (06:53):
No, I don't see.
Speaker 5 (06:54):
You can't even talk to jets right now because those
are both insane chocolate Sunday. So convinced that I was right,
I put it on our incidence is years ago. I
pulled it on our Instagram and I said, guys, like,
which is the superior flavor? Obviously Strawberry? Like three percent
of people agreed with me, and I was it. I
(07:15):
haven't been here from the start.
Speaker 3 (07:16):
I think you remember Strawberry Sunday Gate because it went
on for a couple of weeks. Yeah, and then when
I was pregnant with Campbell, I had to eat my
words because that's all I wanted to eat.
Speaker 1 (07:26):
Interesting.
Speaker 3 (07:27):
And now I'm not pregnant, I am back to usual
programming and that's crazy, Jessica Hosty.
Speaker 2 (07:33):
Anybody or my Strawberry girls out there? We write no,
we don't know.
Speaker 4 (07:38):
Probably zero people that are listening to me, like not
on c We also had a.
Speaker 3 (07:43):
Similar debate coincidentally in the Zella office last week because
I went to the supermarket and realized they have a
whole heap of different flavor oreos and so I bought
a whole heap of different packets of oreos for the
team to try.
Speaker 4 (07:58):
Did you know they do a sour patch kids oreo.
Speaker 2 (08:00):
I don't think I'm into that.
Speaker 4 (08:02):
I'm not into It smelt like lime and it tasted
like sherbet.
Speaker 2 (08:06):
No thank you.
Speaker 4 (08:07):
But they had a chok mint one.
Speaker 2 (08:09):
I can see that being good.
Speaker 4 (08:11):
Yeah, And so I brought it into.
Speaker 3 (08:12):
The office and I said, guys, these were a dollar
sixty at Woolies.
Speaker 4 (08:16):
So I bought all of the flavors and I brought
them to you for a taste test. Yeah, okay.
Speaker 3 (08:21):
And then a lot of them were like, where are
the normal oreos? And I was like, I did not
buy normal oreos because I found chok mint ones. So
I got two sleeves of chalk.
Speaker 2 (08:30):
Milk once because obviously everyone's gonna want them.
Speaker 3 (08:34):
No, I got canceled. I nearly got kicked out of
my own office. People were refusing to try them. The
people that did try them spat them out like dramatic.
They were so dramatic at the originals.
Speaker 5 (08:46):
If you're getting all of them, sorry, okay, I think
if you've got ten fun flavors, do you need the
plane on Yeah, that's what color cleanser controversial and.
Speaker 4 (08:55):
There's a Karra milk flavor.
Speaker 2 (08:58):
Anyway, So you're just to be clear. You're also team
pro mint ice.
Speaker 3 (09:03):
Cream and pro miin ice cream. In fact, I love
the cheaper the better. Like I don't want fancy chalk
Min ice cream. It has to be is it like
buller or in the red Tub?
Speaker 4 (09:13):
I don't know what one that is.
Speaker 3 (09:14):
I think that's the superior one for me. Yeah, so
chok min ice cream with ice magic on top, because
I want that choc top experience.
Speaker 2 (09:23):
Jessica, at home, I do hard chocolate.
Speaker 4 (09:27):
I just don't like it with a you gonna have
a fudge. You gonna have a fudge chocolate Minfretto delicious.
Speaker 3 (09:33):
I gotta say, do you know what I just I
don't know why we're so different, Like I just like
I don't know if I can see past these differences.
Speaker 2 (09:41):
We you know what, all unique perspectives are beautiful.
Speaker 4 (09:44):
It's beautiful.
Speaker 3 (09:46):
I believe the community has their answer on what our
views on chalk Mian ice cream are. And if there
is a question that you are dying for us to
answer on the pod, please send us a DM because
we cannot wait to hear it now It's just GOTTRICI.
Speaker 4 (10:01):
I'm curious. Does our community have anything to celebrate with
us this week? Perhaps some money wins.
Speaker 2 (10:06):
You know that they do.
Speaker 5 (10:07):
There were so many good ones in the thread this week. Firstly,
Natasha said, I put an offer for an apartment fifteen
thousand dollars under the starting prize and it was accepted.
Hopefully this is the start to more price drops for
people looking to get into their first homes. Adore really
really exciting. If you don't ask, you don't get literally,
then I've got a money in from Estelle, who said
I deleted Uber Eats a couple of months ago. Cut
(10:29):
to last weekend, I was sick on the couch with
a cold and I needed a delivery. Upon reinstalling the app,
I got an offer for twenty dollars off of my
first order over twenty five stop cheap dinner coming for
it for me.
Speaker 4 (10:40):
Amazing love that.
Speaker 2 (10:41):
Maybe just try Delinien. See what happened.
Speaker 4 (10:43):
I told you guys, you need to threaten your apps.
You need to threaten your subscription.
Speaker 2 (10:47):
Yeah, and then they'll come through the goods.
Speaker 5 (10:49):
Then I've got money in from Angela, who said she
got one hundred dollars back from Irong Bank.
Speaker 2 (10:54):
They do cash back on eligible utility bills money.
Speaker 5 (10:57):
She had no idea, so if anyone's with Ing Bank, okay,
I would be looking into that. Kate said she's been
stacking the end of financial year sales with redeeming points
vouchers and using shot back and getting just a huge
money wins all round. Then I've got a money win
from Ariel who said, let crusay it was thirty percent
off on Meyer, shot Back had nine percent, Westpac had
additional bonuses, and she had an extra seventy dollars.
Speaker 4 (11:19):
Cash backed stop it. She's stacky, I have stacky.
Speaker 5 (11:22):
Staky said it pays to keep things on your wish list,
monitor the sales, and wait to stack things up. Hell yeah,
that's a very very impressive. Well done, Aeriel. And then
lastly this week, I've got a money win from Belinda,
who said, I listened to the end of Financial year
episode where you mentioned you can claim your ongoing financial
advisor costs.
Speaker 4 (11:40):
You can yeh.
Speaker 5 (11:40):
She didn't know that, so she made an amendment to
the last two years worth of tax returns and got
a refund from the eightier.
Speaker 4 (11:46):
Of seven hundred and five dollars.
Speaker 5 (11:48):
Stop, how good is that? And then Belinda shout out Queen.
She's always in the Facebook group. I see her commenting
all the time. Someone said, ooh, can you tell me more?
Speaker 2 (11:55):
And she goes. Listen to the end of Financial Year
Tax Taps, episode twenty seven minutes in Oh my God,
drop snaps for Belinda. She's out here doing the good work.
Speaker 4 (12:06):
Thank you, Belinda. I'm gonna need that too, all right.
Speaker 3 (12:09):
I feel like that is a really good rap of
the community this week. Beck Every time I think, damn
things are hard out there, our community comes through with
a broke tip that just brings me a little bit
of hope. What tips can you share with us this week?
Speaker 4 (12:22):
Okay, So I'm so sorry, Jess. My broke tip is
going to sound very similar. This one's from Yasmin, though,
so Yasmin said, and it is crazy. I didn't know
you could do this, yasm said. I edited my tax
return from twenty twenty three to twenty twenty four as
I realized it with things I could have claimed but didn't.
On Wednesday, I received over five hundred dollars in my
bank account. And so this is a really good reminder
(12:42):
that because I did not know you could do this.
So if there's anyone out there who's like, oh I
didn't know, I could claim that you can go back
and a mend it.
Speaker 1 (12:48):
Yeah.
Speaker 4 (12:49):
Hell, that's incredible. And the next one comes from Kirston,
who says I was spending way too much money on
my ice long blacks after many US trips and seeing
the big bottles of cold brew. I'd been waiting for
something similar over here. Oh, it's it here now it's yeah,
we're always now selling coffee shots by the goon bag.
That's one point five dead us one point five leaders
(13:10):
for eighteen dollars seconds to make before work. Just adding
ice and cold water to the coffee. Massive money win
for me.
Speaker 5 (13:16):
Stop it.
Speaker 2 (13:17):
Yeah, I just loved a little mixy.
Speaker 3 (13:19):
Yeah, Like every time we've been to America, which is
kind of crazy that we say every time we've been
to America, Jess, I go to the supermarket and we
get like breakfast items so that we can have breakfast
in our hotel room or at our apartment or whatever.
And I'm always buying the like pre done like Starbucks
coffees to mix with milk in.
Speaker 4 (13:40):
The room because they're good.
Speaker 3 (13:42):
Yeah, yeah, yeah, well now they have it here in
goon bag form. I don't know if I can get
around the Australia.
Speaker 4 (13:48):
Australia. It's a beautiful box and you won't even see it,
you know when you pop the tip out and you yeah,
I do because freddy Lexia makes you sexyer? Do you
really think that I have come from like classy upbringing? No,
goombag's also gorgeous color.
Speaker 3 (14:02):
Yeah, and you can blow them up as decoration when
you're done, Yes, exactly, in a little cushion exactly.
Speaker 4 (14:08):
And then my one. Have you guys heard of the
coin collector? Well, I'll tell you I have.
Speaker 3 (14:14):
Yes, I know am on You and I are on
the same like wavelength this week on basically everything.
Speaker 4 (14:21):
Yeah, it's so weird.
Speaker 2 (14:23):
I don't know what you're talking about.
Speaker 4 (14:24):
So on Instagram, his handle is coin Collecting underscore Detecting.
So this guy searches for coins that are worth more
than their original value. Some coins are only worth a
few dollars more, but it's still more than you initially had,
so he will kind of like go to the bank
and exchange ten dollar note for ten one dollar coins
and the little rolly thing.
Speaker 3 (14:42):
He makes fears if you're flipping through the coins and
his knowledge is insane, Jess.
Speaker 4 (14:47):
Yeah, and like every coin to like one dollar, fifty cents,
et cetera. And then he will kind of like be like, oh, see,
so what you're looking for here? And he'll go to
check his little list and be like this coin is
worth two dollars eighty four and it's like one doll
eighty for more. But it's like that was once one dollar,
now it's worth two dollars, you know, I mean cool.
Speaker 2 (15:05):
Like you've doubled your money, doubled your money. Then how
do you like where do you sell.
Speaker 4 (15:08):
The well in the coin selling websites?
Speaker 7 (15:10):
Yes?
Speaker 4 (15:11):
Or eBay?
Speaker 5 (15:12):
Yeah?
Speaker 4 (15:12):
Yeah, that's great because I'm trying to feel that too. Yeah,
you can sell them on eBay.
Speaker 2 (15:16):
They're a market to buy the two dollar coin that's
three dollars.
Speaker 3 (15:20):
There is And it's kind of crazy because like there's
this like niche community of coin collectors who want the
one dollar coin with the slight defect and like really yes,
and like it's so funny because I watched these videos
at three am when I'm breastfeeding and he flipped through
the coin. He goes, Yep, that one's from nineteen seventy four.
That won't be worth anything. This one, this one, look,
(15:41):
that's nineteen sixty three, and like it's crazy. And by
the way, nineteen sixty three, we didn't even have that coin,
so I'm making that up.
Speaker 4 (15:49):
But you know what I mean.
Speaker 3 (15:50):
So the coins and then he's like, oh, this was
a centennial coin and I'm like, a what, Like, yeah,
it's just really interesting.
Speaker 4 (15:57):
It's so interesting. You know the little cigarette holder in
your can't I have coins in there? And I found
one the other day. There was like apparently one dollar something,
but then who cares? It was more than you had.
It's someone something on eBay for like two thousand dollars,
so I'm like, what, but I don't think it is
worth No one's bought it yet, but I'm like, I
could put it up there two thousand, just see how
we go undercut.
Speaker 2 (16:17):
Them listed for fifteen hundreds. What happens, Well, that's exactly right.
Speaker 4 (16:21):
Oh my god, it's so good. So I'd say check
it out. And if you have some coins lay around,
you might be sitting on a gold mine. You fantastic.
Speaker 3 (16:31):
Alright, guys, let's go to a really quick break because
there's obviously so much gold in the She's on the Money.
Speaker 4 (16:38):
Community, and I love it.
Speaker 2 (16:41):
Good, but I appreciate it.
Speaker 4 (16:43):
Thank you.
Speaker 3 (16:43):
Please look us up on Facebook and join our group
where you can share your own coin collection, or simply
have a perv at the money winds that beck and
just share with us. Every single week, after the break,
we're going to dive into this week's money dilemma.
Speaker 4 (16:57):
Please stay tuned.
Speaker 2 (17:02):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 6 (17:07):
Hi, there, have you got a money dilemma you just
can't solve That She's on the Money team is here
to help. Every week, we tackle your dilemmas, both big
and small, to answer your most burning money, career and
life questions. To get involved, simply head to our website
and leave us a short voice recording and you might
just find yourself on the show.
Speaker 4 (17:25):
Now, let's take a listen to this week's money dilemma.
Speaker 7 (17:31):
Hi, She's on the Money. I love the podcast. I've
been listening for almost a year now, and my money
dilemma is I've just checked my bank account and I've
been sent ten thousand dollars from a family friend. There
was no description or anythink like that, and I haven't
(17:52):
seen this family friend in maybe a year. A couple
months ago, I sent them a message saying I didn't
want to be in their life anymore, but I'm grateful
for everything they've done for me. Because the family friend
did live with me and my family for quite a
while and then they're left quite abruptly a couple of
years ago. I had quite a difficult relationship with them,
(18:13):
and they also had quite a turbulent relationship with my
mom and my sister. And I'm not too sure what
to do about the money because I feel bad keeping
it because I'm obviously not in contact with her, and
I'm not sure if maybe something's going on in her
life she's sick or unwell, because I've also had that
(18:33):
I'm in her will. But then also I'm a full
time student, I'm also working full time, and that money
would really help me and my sister and my mom,
and I'm trying really really hard to save and it's
very difficult. So please let me know any thoughts or
advice you have.
Speaker 4 (18:51):
I really appreciate it.
Speaker 5 (18:53):
This is diabolical, God, but like, isn't it the dream
to just wake up be like, Wow, someone gifted me
ten thousand dollars.
Speaker 4 (18:58):
So when it happens in reality, you're like, what the hell,
what do we do?
Speaker 2 (19:02):
Stressful?
Speaker 4 (19:02):
I really want to know if it's.
Speaker 5 (19:05):
Yeah.
Speaker 4 (19:06):
First of all, I'm really sorry to hear, and it's
really good that you could recognize even though it might
have been really hard to be like, oh, this person
isn't good for me and good for my life and
that's very hard decision to make, but really proud of you.
First of all, I'm just going to assume it wasn't
an accident, because that would be like if you haven't
spoken to them, then maybe, but it's not. And so
(19:26):
for that, I would just say, if I imagine winning
the lotto, I really just want to give everyone like
a bunch of money. And I know that, like it's
obviously a very different scenario, but in these situations where
you maybe have the means to do that, you really
want to. And I know that being on the receiving
end is like crazy, it's just that you don't feel worthy,
don't feel like you want to make sure that you're
(19:48):
doing good with this money. But I think take the
pressure off assuming it wasn't an accident. This person wanted
to give this money to you, and they wanted to
probably help, and so it seems like in your situation
you're st mean to save, like it seemed like it
came at the perfect time, and I'm sure that they
would really want to know that it is helping you
in some ways. So I think, do with it whatever
you feel like you want to. And Victoria made a
(20:10):
beautiful Freudian slip earlier and said how you would spend
I mean invest it, And so I'm thinking, I'm thinking
Victoria wants you to spend that money was not permission,
So definitely use it to better your life, better your circumstance,
(20:31):
and just treat it as a gift to you and
your family.
Speaker 2 (20:35):
I agree, I think you need to check that it
wasn't an accident. I just know that this would eat
me up.
Speaker 5 (20:40):
And I think that, like with modern day banking, we've
all done it, We've all sent it to like the
wrong Jessica or the wrong person, and I think, like,
especially because there's no information or context, I just think
morally the right thing you would just be like to
send an email or a text. Wo'd be like, hey,
this popped up in my account. I just wanted to
check was it in tech to come to me? And
(21:01):
then if they say yes, then you have that knowledge
and you can kind of proceed from there. But otherwise
you're going, well, why do I have it? Why is
it here?
Speaker 2 (21:09):
With that being said, it would be naive not to
acknowledge that.
Speaker 5 (21:13):
There's a very good chance that this is a little
bit of manipulation really and that they live truly where I.
Speaker 4 (21:17):
Was going to go with it, I was like, yes,
this is coercive control.
Speaker 5 (21:21):
Yeah, and they've sent you the money to force you
to talk to them. I mean, it's really up to
you to talk to you for ten grand?
Speaker 2 (21:28):
Yeah, I love.
Speaker 5 (21:29):
This is the thing is I think that even if
you would have messaged them and say, hey, like this
ten grand's popped up, like just want to check it
was intended for me, And if they then tried to
guilt trip you or say something say yes I'm experiencing
a tough time or I've won the lotto or whatever,
I miss you and I just wanted to da da
da da, you are then well within your rights to
set the boundary once you know that that was the intention,
like it was intended to come to you, like if
(21:50):
you don't want to reply after that.
Speaker 2 (21:52):
If you that's totally fine.
Speaker 5 (21:53):
Really, I think whatever boundaries you've set, you are well
within your rights to enforce those, and this money should
not change that. With that being said, the goal may
have been, or the hope may have been from the
person sending it to you, that the money would change that,
and that you would feel guilty and it would reopen
the relationship or open a conversation or whatever.
Speaker 2 (22:12):
That looks like.
Speaker 5 (22:14):
You're allowed to set and hold those boundaries irrespective of
whether or not you know they give you money. But
if they did give it to you and it was
a gift, then you know that theoretically should come with
those strings. That's what we always say, A gift comes
with no expectations attached.
Speaker 3 (22:28):
Exactly what do you think they're I think it's crazy.
Who does that, Like doesn't talk to someone and then
gives them ten grand Like that's not like, oh, I
transferred you one hundred dollars because like years ago I
owed you one hundred dollars and I'm finally paying it back,
Like this is a different story anyway. I just yeah,
I would want to check that it wasn't a mistake,
(22:49):
and I would want to make sure that I understood
the intention behind it. Is it bad that my brain
went immediately to its manipulative it's control, Like, that's not
cool from my brain. But I think it's important to
check that it's not those things, and then if it is,
it is. If it isn't, it isn't. But I would,
I guess, proceed with caution, and to be honest, I
(23:11):
wouldn't be spending a dollar of it until you understand
that it wasn't a mistake, because it would be very
awkward if they go, hey, I'm so sorry, Jess. I
know you drew this boundary with me, but now I
have to reach out to you because I accidently I
transferred to you, you know, ten grand and it was
actually meant to go to my other friend Jess, or
it was meant to be my rent, or it was
(23:32):
meant to be something else, and you go, sorry, I
already spent it.
Speaker 4 (23:35):
Yeah, like that would be awkward. So that's where I
would go.
Speaker 2 (23:39):
Yeah, I totally agree.
Speaker 4 (23:41):
Good call.
Speaker 2 (23:41):
SHO move into this week's dilemma.
Speaker 4 (23:43):
We absolutely should.
Speaker 3 (23:45):
This one is actually something we hear about all too often,
so I hope we can share some I guess helpful opinions,
thoughts and feelings with you. So they wrote, Hi, Victoria,
I'm twenty nine and I earn around one hundred and five.
Speaker 4 (23:59):
Dollars a year.
Speaker 3 (24:00):
I've worked really hard to get myself into a good
financial position, and I've managed to say about thirty five
thousand dollars. But I also have an eighteen thousand dollar
hex debt and a twelve thousand dollars car loan. My
goal is to buy my first home in the next
couple of years, so I know that having cash behind
me is really important. But every time I see my
(24:20):
car loan now my HEXT balance, I just want to
pay it off and be absolutely done with it. I
keep hearing people say not all debt is bad debt,
but honestly, I just hate owing money. I'm so torn
between using my savings to clear these up and enjoying
the peace of mind, or leaving my savings alone because
I know I'll probably need them for a house deposit
and emergencies. How do you know when it's worth paying
(24:43):
off a debt early and when you're actually better off
keeping the cash.
Speaker 4 (24:50):
Thoughts?
Speaker 5 (24:50):
You know, the hex element We've said many, many, many times.
HEX is, you know, not the worst debt to have.
It's index you're not paying hectic interest on it.
Speaker 2 (24:58):
It dies when you die.
Speaker 5 (24:59):
More with the true I would not be too concerned
about the HEX. If I was you the car loan,
I would be more concerned about. I think though, when
you say you might need the money for emergencies, I
would like to understand do you have an emergency fund?
Because I think before you go spending all the money
you have, or like a good chunk of the money
that you have, it wouldn't be all of it paying
off that debt. Do you have enough to cover yourself
(25:24):
for however many months? So like, have you got an
emergency fund or is that pool of thirty five thousand
every cent that you have to your name. If so,
potentially you might not need a thirty five thousand dollars
emergency fund. Can you split some of that off depending
on your interest rate on the car loan, That's when
I would be assessing as to whether or not it's
worth paying it off early. I just know that over
(25:44):
the term of a car loan, you end up paying
sometimes almost double the cost of your car, and so
I do feel like I mean, I personally just don't
love the idea of paying interest on things if I
don't have to keep in mind, when you have a
mortgage as well, You're mortgage is subject to change. Like
ook at how many times the rates have gone up
in the past few years. So while you might say, well,
(26:05):
thirty five thousand dollars is enough for my deposit, congratulations,
by the way, I'm saving such a huge sum of money,
and that's a really exciting time. I think that not
having that additional debt would probably free up your cash flow,
so that if there were changes with your mortgage, you know,
that would be a little easier on you. But all
of this will be taken into account if you speak
to a mortgage broker, who will look at your assets,
(26:27):
your liabilities and kind of give you the breakdown.
Speaker 4 (26:31):
Exactly. Has just said congratulations, and that's huge, quite a
feat And this isn't very helpful. But I'm always confused
by car loans because I'm like, I guess I would
need one too. I don't really have savings. If my
car broke, I would, you know, touch wood, I would
need to get take out a loan to get a
new one. But that isn't to say that I would
get like a big car. I know that people have
families that need big cars, but I'm like, that's one
(26:52):
thing that I've never understood why people need to spend
so much on it.
Speaker 5 (26:57):
Like it's not the amount that people spend on cars. Yeah,
I know, like people getting loans for you know, thirty
to fifty thousand dollars back. And I understand cars are
expensive and safety and dada da, all of those things.
Like I'm not having a go with anyone who's bought
a new car, but you can just buy a car
for sub ten thousands dollars a job, getting lots of
factors to consider, anxiety.
Speaker 2 (27:18):
And your team.
Speaker 3 (27:18):
Jess like, yeah, obviously it is an absolute privilege to
say this, but if you can't buy it outright, you
need to be having a really good think about why
you want that particular model.
Speaker 4 (27:28):
And that particular car. Yeah, exactly. And I think you know,
the safety standards and the safety features have they kind
of started coming around like twenty ten. At that point,
they're like super safe. So anything in the last like
fifteen years, you're guaranteed to get like a pretty safe car.
So you could definitely go cheaper. But anyway, not to
say that you know it's done now and you have
(27:48):
a beautiful car hopefully, But yeah, I would say, yes,
don't worry about hex at all. It sounds very similar
to jest, don't worry about hex, try and pay that debt. Yeah,
I guess like it depends on the interest rate, but
I know that you storically and maybe like famously, they're
not known for having very fair interest rights and you
kind of pay some money. So even like, and I
don't know if this is the best thing to do,
(28:11):
but I would even look at maybe alone that has
a better interest rate. That's not necessarily car loan that
is just I feel like adding cards, like adding the
word wedding to an event and everything goes up a
million dollars, And so having a regular loan that is
just like way less interest and you know you've done
your research on there. Maybe you've got some benefits of
(28:31):
freedom fly points or something some random things like that,
like have a shop round for a cheaper thing or
something that will cost you less in the long run
and see if you can paid off with that. And
I know it's Victory's probably angry that I'm suggesting getting
to know expam, but that is maybe what I would
do well, trying to paid off quickly, but don't maybe
touch too much of your savings.
Speaker 3 (28:50):
Yeah, I think I'm just gonna lean into what Jess said.
Go talk to a mortgage broker, because we have seen
people in our business before who have paid off their
HEX debt and gone, oh, I paid off my HEX
and you know it meant that I had to save
for another year and a half and we go, oh cool,
(29:10):
you didn't have to pay off your debt. You could
have afforded a house a year and a half ago
and the HEX set wouldn't have impacted your serviceability enough
to be a worry. And again, the debt doesn't feel
good and you want to get rid of it, But
talk to a broker because they'll be able to give
you a strategy of getting into your first home and
what that will look like. We deal with people who
have debt all the time. But the important thing is
(29:32):
having a conversation because your broker might go, yep, if
you can get rid of that car Loan, don't worry
about the HEX, this is the strategy, or they might
go okay, well, your serviceability with the car loan and
with the HEX looks like X. But if you did this,
it would look like why go and get some advice
from someone who can actually look at your numbers, don't
you know? Put your hand up and be like, oh,
(29:53):
I'm just going to make a decision that I think
makes sense. Seeing a mortgage broker is free. Go and
get the free advice and put yourself in the best
possible financial position. But also leaning into what Jess said,
it sounds like you've just got thirty five thousand dollars
in savings and that's cool, but I need you to
carve some of that off for your emergency fund and
putting that to the side.
Speaker 4 (30:14):
To never touch.
Speaker 2 (30:17):
Or buy a house. So there are so many things
that just pop up there.
Speaker 3 (30:20):
Like exactly the money, Yeah, like it costs so much
money to have keys cut, Like that's crazy, that's a
niche personal reference, please disregard. So we also aside three
months and I will talk to you about that reference
you pin that and cut back and ask a jest.
Speaker 4 (30:36):
But not right now. We asked the community.
Speaker 3 (30:38):
Obviously, what debt would you tackle first? Maybe five percent
of you said the car loan, three percent said HEX,
and eleven percent of you said neither, I would keep saving. Okay, okay,
important to take into consideration that you would probably have
a relatively high interest rate on a car loan and
we don't want to pay that if.
Speaker 4 (30:57):
We don't have to. Yes, exactly, Sorry, I just rem
but that there are car loan brokers as well. There's
one in No like no Mark, you guys can brok
or you can just ask me, oh yeah, yeah, are
they different anyway you could like refinance a car loan specifically,
But they're all the same. Yeah you can, No, they're
not all the same.
Speaker 3 (31:12):
Zeller is better, Zeller is better, exactly exactly.
Speaker 2 (31:18):
She's always said that.
Speaker 4 (31:20):
What I've always said, I've never seen anybody else in
the entire market. But that's a really good point.
Speaker 3 (31:26):
You can talk to someone about that. But it's also,
I guess important if you did come to us for
a car loan, we do ask you a few questions
that someone who just buys and sells cars every day
they go, oh, yes, yeah, no worries, I can get
you a car loon full stop. My team are a
little bit more likely to go, oh yes, like I'm
really glad that you are buying a new car, Like
(31:47):
what's your financial situation?
Speaker 4 (31:49):
Like is that the right loan for you? Do you
think that that?
Speaker 3 (31:52):
Like, yes, I ask you a few more questions because yes,
we do it. Yeah, but we also want to make
sure that we're not writing loans that put you in
a worse off position. So maybe if you want to
be in a worse off position, go see a different broker.
Speaker 4 (32:05):
But like, yes, true, it's a stolen doing. We could
make so much more money if we had less morals.
I know, I'm so sorry. I thought they were because
car loan broker, mortgage brogger, but I think they probably know.
Speaker 3 (32:17):
There are people that only do houses. There are people
who do assets.
Speaker 1 (32:21):
All.
Speaker 4 (32:22):
Yeah, we do everything.
Speaker 3 (32:23):
We do residential, we do commercial, we do business loans,
we do asset finance, like we've financed lasers for people's
beauty therapy clinics. We see financed trucks and tractors for farming,
like we do everything.
Speaker 4 (32:37):
Oh amazing, it's crazy. It is really fun.
Speaker 3 (32:40):
Hell, well, someone comes around and you're like, I need
to buy attractor, and I'm like, well, let me work
out exactly how I do that. But I've got your
back anyway, I've done that one before. So you need
a new tractor, you come to me anyway. We also
asked the community, if you suddenly had enough money to
clear all of your debt, would you what do you
reckon that sits at Oh?
Speaker 5 (33:02):
I in my head, I'm imagining, like like our last question,
like a lot of it's just popped up in my account.
It's like if it did absolutely unclearing the debt.
Speaker 3 (33:09):
Who were well, only thirty nine percent of you said
immediately yes, really yeah, Forty three percent said it would
actually depend on the debt, seventeen percent said only some
of it, and two percent said no, I'd continue saving okay,
seeing I know, huh.
Speaker 5 (33:24):
Maybe some people are get agree to get some financial
advice because they come into a sum of money.
Speaker 3 (33:28):
The next question we asked was which would genuinely make
you feel more financially secure. We asked, would it be
being completely debt free or having a healthy savings account?
Speaker 2 (33:39):
Oh, that's a tough one.
Speaker 4 (33:41):
What do you reckon? The split was I reckon it's.
Speaker 2 (33:43):
Like fifty to fifty. I think thirty nine to fifty one?
Speaker 4 (33:46):
No one quick, I reckon mostly having healthy savings.
Speaker 3 (33:53):
Jess was right until she questioned us, yea it was
fifty to fifty exactly on the dots.
Speaker 2 (34:00):
That's crazy.
Speaker 1 (34:01):
Yeah.
Speaker 3 (34:02):
We then asked what's your two cents and you had
a lot to say, mostly get rid of the car loan,
but leave the hex debt.
Speaker 4 (34:10):
It will sit and pay itself down over timegally.
Speaker 3 (34:13):
Someone else said, pay the car loan post and then
speak to a broker about paying off a hex debt
and whether it's a good strategy. Someone said, define your
debts so it will make more sense. They said, if
you understand what is consumer debt and what is hex
and helpful debt, that might be helpful for you. Another
person said, if you have a healthy savings account, pause
that for a bit and then focus on the car
(34:34):
loan until it's paid off. Another person said good debt
and bad debt are different. Good debt is your home
loan that you'll get in the future, and a bad
debt is a car loan. Another person said, well, what's
better for you having extra money in shares or for
a home loan or extra money to pay off a
car loan, which I thought was really important. Another person said,
(34:55):
we refinanced our home recently and we all advised to
clear our car loan debt first, so that's a good
like I've done this for you. Another person said, if
one might help you sleep better at night, that's probably
the one you should prioritize, which I often say. Another
person said, if the loan term ends by the time
you're planning to buy anyway, maybe I wouldn't bother. So
(35:17):
there's a lot of like different things on the table,
I suppose about advice, but I think.
Speaker 4 (35:23):
My number one thing would be talked to a broker.
Speaker 3 (35:25):
Yeah, and just say, hey, I'm in a position where
I want to buy a house in the next three
to five years. I've got thirty five thousand dollars in savings,
I've got a car loan, got a hextet, here's my salary,
and a broker will be able to give you.
Speaker 4 (35:37):
A number of different scenarios.
Speaker 3 (35:40):
Well, this is what it would look like if you
paid off your car loan, this is what it would
look like if you had no hex debt, and then
you can make the decision that makes sense for you.
Speaker 5 (35:47):
Yeah, and if you want to know more about the
different kinds of debt, We've run an episode in our
summer series earlier in dr about managing debt. We'll link
in the show notes and that kind of goes over
you know, what is good debt, what is bad debt,
the things you might want to consider in a bit
more depth if you do want to go over that
and have a bit more understanding.
Speaker 4 (36:02):
We've got our fingers on the pulse. We know what
questions you guys have before we even have them exactly,
and we've already made that episode. All right.
Speaker 3 (36:09):
I think that this is unfortunately all we have time
for today, and at the end of the day, whatever
you decide should support your financial goals and your personal
money story, and it's your decision to make. We just
hear it away in with some helpful opinions, but opinions
are like we'll just move on from that anyway.
Speaker 4 (36:26):
My friends. That concludes our Friday Drinks episode.
Speaker 3 (36:30):
I hope that you've left feeling refreshed and invigorated for
the weekend that will be Thank you so much for
joining us for a little fizzy ddition if she's on
the money, and for being a part of our community.
Please make sure that you are subscribed so that you
never miss an episode, and we'll chat to you next week.
Speaker 4 (36:45):
Money Diary, Deep Dive.
Speaker 2 (36:46):
And all bye ay bye bye.
Speaker 6 (36:53):
The ad by 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.
Speaker 4 (37:11):
Advice tailored towards your needs.
Speaker 6 (37:14):
Victoria Divine and Sheese on the Money are authorized representatives
of money.
Speaker 4 (37:18):
Sheper Pty Ltd
Speaker 6 (37:20):
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