October 30, 2025 • 40 mins
You’re smashing your financial goals, debt’s going down, confidence’s going up, and then that little voice pipes up: “Should I be investing too?” This week, we’re unpacking the guilt trip of the financially responsible. Can you actually build wealth while you still owe money? Victoria’s breaking down the maths and the mindset, and proving that sometimes the hottest ROI is just being a little bit boring. Then, an early-inheritance nightmare that’s giving full moral hangover. Her parents gifted her $50K for a house deposit… until they hit money trouble and might need it back. Do you hand it over out of love, or keep it and become the villain in your own family group chat? It’s financial guilt, family politics, and the ultimate test of boundaries. Plus, a brand-new segment where you get to ask the team anything (yes, really), a few chaotic money wins, and broke tips so unhinged they might actually work.
Need the team’s take on your money dilemma? Send us a voicemail here.
Or if it's more of a spicy money drama and you want the communities verdict? Slide into our DMs here.
Victoria's Marley Spoon Code: Use VICTORIASAVES to get up to $230 off your first 5 boxes, including free shipping on your first one.
Ready for more laughs, lessons, and unhinged money chats? Check out our oh-so-bingeable Friday Drinks playlist. Listen here.
Join our 400K+ She's on the Money community in our Facebook Group and on Instagram.
Acknowledgement of Country By Nartarsha 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 is Tatasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country t Glenn Young
Ganya Niana, kaka ya Ya beIN Ahaka nian Ar gay
In Mbina, yak um Jar, Dominyama, Domagahawakaman, damon Imlan Wimer
bang gadabomba In and now in wakah ghana On yakram
jar Watnadaa. Hello, beautiful friends, we gather on the lands
(00:24):
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. Hello and
(01:11):
welcome to She's on the Money, the podcast that makes
personal finance less scary. This Halloween, It's also Friday, our
favorite day of the week because we get the team
together and we get to celebrate you the incredible She's
on the Money community, who are arguably a lot less
spooky than Halloween. Miss Jess Gricci. She's going to be
(01:32):
sharing our favorite money wins. Beck is back and she'll
be sharing her broke tips, and we'll be helping to
answer our money dilemma, which is all about whether you
should prioritize investing when you have debt and something that
you slid into our dms about this week, whether you
should give back an early inheritance when your parents are
now struggling, which I think is going to be rough.
(01:55):
So you guys know that Friday Drinks episodes, I would
say they're a little bit chaotic times and I always
ask my team how is your week? But I'm not
doing that. I'm not doing that. I don't care about
you week. Oh oh no, no I do, I do.
I already asked you though, so I already know, but
I really want to add something different and take that
time and then use it more effectively. Right, So we're
(02:19):
going to give you the chance to ask the team
one thing you want to know money life advice hot
takes literally anything, and then we're going to answer it
on the show. And because it is Halloween and it
is so Spookie, I thought i'd kick it off with
a spooky question from me because then I'm hoping that
our community dm us questions that they want to know
(02:42):
the answers to from Beck and Jess. I want to
know what is your scariest social money nightmare? Oo, Do
you have one ready to go that you would like
to Yes.
Speaker 3 (02:54):
I feel like for me, it's all about I know
we've showed out this in the share before, but it's
the having to follow people up for money.
Speaker 2 (03:02):
Oh yeah, I am.
Speaker 3 (03:04):
I'm totally happy to do it once because I think
we all forget right, Like I have absolutely gone to
transfer people money when I've owed them for like dinner
or something like that.
Speaker 2 (03:12):
But you're like wholesome, So if I was to ever
follow you up, I think you'd be like, oh my god, sorry,
here it is immediately. It's not evasive totally.
Speaker 3 (03:19):
I think my worst nightbrary is being on the end
where like somebody owes me a lot of money that
I then need to.
Speaker 2 (03:24):
Chase because I think I feel, you know, you feel guilty.
Speaker 3 (03:28):
About it, but then you need the money or you
want the money. I feel like the stress of just
like having to follow someone up a lot is very
uncomfortable to me, and again, like, thankfully not a position
I've ever really had to be in. But there's just
my worst nightmare, my worst night social nightmare.
Speaker 2 (03:44):
Yeah. Absolutely. What is your scariest social money nightmare?
Speaker 4 (03:49):
Well, I'm very blessed with the best I have. I
feel very safe being broke girl in my friendship circles.
Speaker 2 (03:57):
I need to make you less safe. Yeah, that's totally good.
Like I just want to make you real rich. She's
got an axe coming out of her hand. I've threaten
you into a better money position. Oh, you put this here.
Speaker 4 (04:11):
But I think like the scariest thing for me is
when it's secondhand. Let's say, like you know, you're going
to visit your partner's family at Christmas, or a friend's family,
or like something that is beyond your close circle, whether
it's like immediate family or close friends or whatever. That's
when I get really anxious because it's like, you know,
for example, I've got to visit my partner's mum on
(04:33):
the Gold Coast and I'm going to have to bring something,
and that is making me so stressed because you can't.
And I think there's something about that secondhand, or like
when someone doesn't know you as well as you're close
people and you are expected to like just buy like
a nice, thoughtful thing that isn't super personalized because you
don't know them as well either, so it has to
(04:53):
kind of come from a little bit of money has
been a good bottle of wine or a good something.
Speaker 2 (04:59):
This together, I think that stresses me. Work on it.
Will work on it, and you, Oh my god. I
thankfully I got to go last. But while I was
listening to yours, I was just thinking of all these
other things that I could add. So first is when
someone says, let's just split the bill equally, Oh yes,
I just had an entree. The next is our group presence.
(05:21):
So when you've been like, oh, I'm going to Jess's
birthday and like you've already planned your stuff, and then
someone goes, oh my god, well it's actually her thirtieth birthday,
so we should all go in and get her a present,
and then they dictate the budget. Yeah nightmare. And then
my last one I can't remember, so you just stop
getting it. We're giving too and you're just telling to
(05:42):
I was like, what is this, Like, what's my last one?
And it's literally just left my brain. Yours were really good, though,
and I really really liked them because it's like getting
a little bit more insight into the two of your brains,
which I really really like. So moving forward, if you
guys have a question that you are dying for us
to respond to, it doesn't even have to be money.
It could be like something totally unhinged, because like Friday
(06:04):
Drinks is just a vacato totally my favorite cereal. To like,
what do you want to know? Pop it in a
comment section on Spotify, and I'll also link the question
call out in our thread that we're going to put
on our Facebook group in the show notes so that
you can go straight to that as well. So just like,
ask all your questions, because I think it'd be really
fun to ask Beck and Jess and maybe even me
(06:25):
sometimes what our thoughts on things are. Yeah, because I
can guarantee our brunches when we catch up they're wild
because we're all so different. Yeah, that's so true. Isn't
that beautiful?
Speaker 1 (06:37):
Yes?
Speaker 2 (06:37):
But also so unhinged sometimes I'm like, what is going
on inside her head? Anyway, Let's move forward. So apart
from being unhinged, we also like to stroke our own
egos and still talk about our community. Would you guys
like to hear a five star review. Yes please, all right,
So I picked this one because de Lulu has been
the word of my week. So from de Lulu true
(06:59):
money Queen from Perth Goal. By the way, while I'm
wearing this, if you're not watching it on YouTube, I'm
wearing a very large tiara. Oh go look at the videos.
Surely Instagram something dressed as a witch. Beck Is. I
don't know what beck is. Beck has just scorne through
the costume box. She has an axe coming out of
(07:20):
her head. She has a princess tiara and a cape.
Exactly She's ready and obviously it means I am something
something good good Halloween s Anyway, This one is from
Perth Gal twenty three and she says, I am so
happy I found this. My money story was all about
spending it before someone else spent it For me. I
(07:42):
have learned to trust more of myself and that saving
for a rainy date is actually so much less stressful.
I listened to this religiously now and I'm always waiting
for the next episode. Love the honesty, the tough love,
and the beautiful friendships that shine through all of your episodes.
That's so nice that me what is going on inside
her head them beautiful relationships Me. Yeah, I'm so nice. Friend.
(08:07):
I'm going to come through that. Sorry, But I love
a five star review. And I love hearing how you
guys are getting on. How long you've been with the community.
You know, earlier this year, we launched our rebrand, and
I had so many people messaging us being like, oh
my god, Ve Like when I saw all those videos
of your rebrand, like I couldn't believe how long I've
been here for. Like I saw them and I was like, oh,
I remember that, And sometimes I'm like, I wish you didn't.
(08:32):
Oh that's really cute. Yeah, that's really really cute. Anyway,
more about our community, Miss Jess, I got to eat
chea community. Money wins, what are you bringing to the table?
Speaker 3 (08:39):
Alrighty, first of this week, I have one from Elisa,
who said money win. I did my groceries through the
shop back at this morning and got twenty five dollars
in cash back.
Speaker 2 (08:48):
Gorgeous twenty fi. I know how good.
Speaker 3 (08:51):
I would bit of a theme this week groceries. It
seems they are pretty spooky. Cost of living absolutely. Next time,
I money from Alex who said she bought six chickens
for thirty dollars a chicken and she'll never have to
pay for eggs again.
Speaker 2 (09:03):
But now you have to pay for grain, and now
you have pets. I would be such a chicken girl
if I got them. I think sick chicken sounds like
the perfect amount of chickens to each Oh my god.
I am also just so farm oriented at the moment. Like,
as you guys know, we've been looking for a house,
trying to work out where we want to live, and like,
in that I have been using real estate dot com,
(09:24):
dotter you basically as Instagram, Like I scroll through that
stuff on the daily. Love right, Yeah, Like what if
Steve we moved to a farm and got cows and
chickens and He's just like absolutely not. Then you know
what I do. I go into the office. Jess doesn't
know this yet. You're not going to care that much,
Beck because you don't know her. But you know Jacqueline,
one of my mortgage brokers, she's getting too highland cows.
(09:47):
Oh my god, I love babies. At the moment. When
you're in the office next, ask her for the videos
because I was screaming. She's currently trying to work out
what like to name them and I reminded her of
my friend Chloe Jane. She's on Instagram. She's a really
beautiful influencer from Adelaide. But she actually has two Highland cows,
(10:08):
so if you're not following her, you clearly need to.
But she has the Moose Brothers. Oh cute work out,
Oh my goodness for today's episode, the Booze Brothers. Yeah,
I'm gonna ask her if she can put some pumpkins
around her for me. Make them spooky, make them anyway. Sorry,
that was really I told you that these episodes are chaos.
(10:29):
I'm sorry. That's okay. Can you tell I didn't take
my Adhd Mede this morning? Oh yeah, we get out
all right.
Speaker 3 (10:38):
Next, I've got a money win from Alyssa spelled differently,
who said money win.
Speaker 2 (10:43):
Aldi opened in her town.
Speaker 3 (10:45):
I see a lot of people talk about how much
they're saving with ALDI, so I feel like that's a
really good one. Next, I've got a money win from eighty.
He said she saw a print that she loved at Adairs.
She went in to get it and it was ticketed
at one hundred and twenty nine ninety nine when it
should have been one hundred seventy nine ninety nine.
Speaker 2 (11:01):
Oh so she got herself a hot little deal. The
price she put in a photo. It's farm friendly, it's
a horse yeah, which is farm episode? Oh my god?
Can we just start theming the episode, pay for all
of them? Yeah, and we're gonna pick terrible themes yeah,
no Halloween just like farm yeah yeah yeah yeah or
(11:22):
loose thread yeah.
Speaker 3 (11:25):
And then lastly, this week, I've got a money win
from Hannah, who said instead of paying six dollars or
more for a vegan ice cream when she was out,
she bought a pack of four vegan Trumpet ice creams
from Coals for nine dollars fifty Trumpet deal.
Speaker 2 (11:37):
I don't know what a Trumpet ice cream is. I
think it's a brand. Yeah, okay, I am all about
the waste bar at the moment. Really, this week, I've
eaten four just this week alone. Please don't ask if
any of them were on the same day, because maybe
they were. The doctor away and Beck, do you have
any broke tips? I feel like broke tips could be
a little bit spooky. They could be, and I'm going
(11:57):
to try and make these spooky. Say them and you're spooky,
spooky voice.
Speaker 4 (12:00):
Okay, So this one's from Emma who may or may
not be our breaths a bit sultry, doesn't it sounds
a bit sexy.
Speaker 2 (12:10):
Our producer? Is that scary or it's that hot? So
Emma who may or may not be.
Speaker 4 (12:15):
Our producer, said that she had a dress up on
Facebook Marketplace since April hadn't had one message about it,
but on the weekend she finally had someone who messaged
and bought it straight away because she was getting ready
for her Christmas parties, which leads us to say, this
is a reminder to go through your wardrobe for unwanted
Christmas party outfits and wedding outfits because it is wedding
(12:36):
season and makes some extra cash on marketplace when Henny
is Christmas and wedding season and Halloween sees it. So anything,
even if you have something you were like this is hideous,
someone somewhere will need it for Halloween or Christmas or
some sort of party.
Speaker 2 (12:50):
I'm wearing a tiara right now. This was a necessary
purchase exactly Victoria's wearing a tiara. And if you have
online around, you haven't been able to sell a tiara
all year. Now it's probably the all time now.
Speaker 4 (13:00):
The time I've driven far and wide find a fluffy
Sanda hat. If you got a fluffy Sanda hat out there,
someone's gonna buy it anyway.
Speaker 2 (13:07):
I still remember that from last Christmas. Yeah, and I
was like, are you joking? I have like six Yeah?
Speaker 4 (13:12):
Oh well I haven't seen no hard nor hair fluffy Christmas.
That's but I would really like one. If it's a cow,
buy it off you. Yeah, okay, all right, well I
can bring one in for you. I just need to
get my Christmas storage box open and then it's all yours.
But I feel like, because it's Halloween, it should be
illegal to open your Christmas storage boxes yet.
Speaker 2 (13:28):
But do you know what I reckon? Jess is already
planning the day after Halloween Christmas tray up y y.
Why am I not surprised? No, I'm so with you. Okay,
So this one comes from Ali.
Speaker 4 (13:39):
Ali has slid into my DMS to let me know
that Farmer's Pick now has meat. You know those veggie boxes.
Is like, and so if anyone doesn't know Farmer's Pick,
it's like it's similar to fugly where it's just like
all the kind of like ugly vegetables, ugly fruits, they
kind of go into a box and they get set
and they're really really good.
Speaker 2 (13:56):
They're great for you that there's nothing wrong with them.
They're just a little bit ugly.
Speaker 4 (14:00):
And so now they have meat, which might make you
think like, Ooh, I don't know if I want to
get meat from but it's so fine.
Speaker 2 (14:06):
It is very good for you.
Speaker 4 (14:07):
I don't know where this sourcing is me maybe it's
just from like cheaper butchers or something like that, but
you can now get meat on there and I feel
like me is very expensive, so it's a really good tip.
Speaker 2 (14:16):
Yeah, and it's probably not in QR meat. Honestly, if
I ran a veggie box series and I was like
selling NQR carrots right, first things first, my chopping skills
lack a lot of nuance, so by the time all
the veggies are chopped, you're not going to be able
to tell. You'd be like, that's fine totally. But if
I ran a veggie box company, adding meat when you're
(14:39):
already doing the order just makes sense. They're probably just
orderating it in bold dinner in a box basically genius.
Oh my god, actually might jump on this after we
finished recording. I feel like Marley Spoon is like dinner
in a box though that's like even more planned, like
that would be. My broke tip is just like use
my Marley Spoon code and just get some free meals
coming up to Christmas so that you can save a
(15:00):
little bit more.
Speaker 4 (15:01):
Yeah, that's so, it's actually crazy. So I think that's fantastic.
Do your whole Christmas dinner.
Speaker 2 (15:07):
On my spooed. I'm sorry just to jump in there.
You think that's funny. They do, They do crazy, they do.
So I did this at Easter time. Yeah, they have
there And this is not an ad, this is not sponsored.
This is just I have been indoctrinated into the cult
of Marley Spoon. So therefore when we talk about food,
I just want to tell you about my positive experiences.
So they have their like you know, meal kits, and
(15:29):
then they have their marketplace, and inside their marketplace they
do like a roast pork for six people, a broccolini
side for six people, and you can mix and match
your own things, so you don't like roast pork, no worries.
They've got a whole roast chicken thing that you can pick. So,
like I mixed and matched and had the most seamless
Easter dinner with my family over. So we had like
(15:50):
a really beautiful pork belly. There was like these candied
sweet potatoes. We had the broccolini. We had like these
like roasted carrots. Everything was gorgeous and there was a dessert.
So you just add them all to basket. And I
remember thinking, oh, maybe this is the lazy option, which
that's why I did it, But it ended up being
really economical because I was like, hold on, hold on.
(16:11):
I looked at the pork belly and it was basically
the same price for the pork belly to be sent
to me as the pork belly at the supermarket at
the time. But they sent the herbs, the spices, the garnish,
like all of that, and it was bloody organic. I
was like, this is good. I'm living. I'm basically a genius.
That's so good. So I haven't seen it yet because
it's obviously not Christmas time yet, but I reckon they'll
(16:34):
do a Christmas series for us, Marley Spoon, if you're
not going to and putting the pressure on here, because
I would like to see that. Thank you so.
Speaker 4 (16:39):
Stress less about the Christmas lunch and dinner because Marley
Spoon maybe will have you covered.
Speaker 2 (16:45):
I'm going to call Marley Spoon and be like, did
you know Beck wants some sponsorship money? It sounding like
I'm sponsored by them. I wouldn't hate it. I wouldn't
hurt a little bit of money.
Speaker 4 (16:57):
No, So my tip this week is make your own
dish washing tablets. I saw this thing on TikTok, and
I can like send the link, I can put it
in the show notes if you guys want. But it's
like you can ice tray, ice cube tray, and you
I believe it is like maybe one part dishushing liquid,
some toothpaste, just a little dollop, baking soda, a little
(17:17):
bit more dishoushing liquid, a different color, just to make
it look a little bit more like a finished tablet.
Speaker 2 (17:23):
But you don't have to do that. You can do
whatever color and you chuck.
Speaker 4 (17:26):
It in the freezer and then you just pop it in.
It literally looks like I think, like the toothpaste. You
just put a dollop and it looks like the little
red circle in a dish washing tablet.
Speaker 2 (17:35):
I have heard of people using toothpaste to like polish things,
so I kind of believe.
Speaker 4 (17:39):
It yes, I polish a lot of my silverware with paste,
so I think that's it's doable. And so you pop
that in the freezer and then you pull them out
and like from memory, I don't have a dishwasher anymore,
but it was like seventy dollars for like a thirty
pack or something.
Speaker 2 (17:53):
Is it still expensive?
Speaker 1 (17:54):
Still?
Speaker 2 (17:54):
Away?
Speaker 4 (17:55):
So I'm like dishrushing liquid and toothpaste and baking soda.
Speaker 2 (17:59):
I'm like that it's so much cheaper. I don't know
if it'll like be really sudsy. I don't understand how
that all works. I don't know how it works. It
sounds like a lot of effort. But can I add
to that broke tip please? So like dish washing tablets
astronomically expensive, like pane of my existence? Why did I
think I had to buy them?
Speaker 5 (18:16):
Though?
Speaker 2 (18:16):
Oh, you don't actually have to buy dish washing tablets, like,
and you know what, great broke tip if you really
want your dish washing tablets. But Beck, I've just stopped
buying dish washing tablets. And for three dollars ninety at coals,
I buy a kilo of dish washing powder. Oh, and
like I just pour that into the little canister and
she does a good job. I think it's like lemon
fresh or something gorgeous. Perfect. Sorry, it does the job.
(18:38):
And it's three dollars ninety for a whole damn kilo. Really, yes,
it's just like powder and like it comes in like
you know, like the old school laundry, like you containers
with like you screw off the top and they pour
it in. I just like, I don't measure it. Maybe
I should be measuring it. I just measure with my
heart and I just fill up the little plastic container
and chuck the lid closed. When back, ma'am, I still
(19:00):
haven't run out three dollars ninety. That's so don't quote
me on that because it might not be three dollars ninety,
but I'm sure it is. I'm absolutely certain it's under
four dollars. That's so cool. Under four dollars. Like, why
do we need dish washing tablets? I know, great money tip,
like or broke tip if you're like I really like
having you know, stock and just chucking them in money win.
But like, sorry, I'm even lazier than that. And I
(19:21):
also just do you need a dish washing tablet? A
parent light don't know. That's it. Well that's me for
this week. All right, Well, let's head off on a
really quick, maybe not so scary break because after the break,
we're going to be having a chat about your money dilemma,
which is all about whether you should be prioritizing investing
when you actually have debt and something that you slid
into our dms about whether you should give back an
(19:42):
early inheritance when your parents are now struggling. So don't
go anywhere, welcome back. Sorry. I hope that every listening
is just leading in because I'm having lots of fun. Yeah, leaning,
and don't get too scared. I'm only wearing a tr
because Jess lindsay in. Let's listen to this week's book
you Money Dilemma.
Speaker 5 (20:06):
Hi, there, have you got a money dilemma you just
can't solve? The 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 2 (20:24):
Now, let's take a listen to this week's money dilemma.
Speaker 6 (20:29):
Hey guys, my question today is well, really just wanting
your opinion on the whether you think you should be
prioritizing paying off debt over having investments and savings. So
a bit of my backstory is that I have a
considerable amount of debt a few years ago after coming
out of a relationship unfortunately, and so IF worked hard
(20:50):
over the last few years to get that down from
about fifty thousand to about fifteen thousand. And I also
have a couple of credit cards. So while I'm doing
well to actually get those under control now, I have
actually also started looking at and I've opened up a
Sharesy's account thanks SotM, and a Raise account. However, there's
(21:13):
all always that nagging feeling the back of my head
that I shouldn't be putting money in these platforms, that
it should all be going towards my paying off my debt.
I feel like that's not practical for people.
Speaker 1 (21:27):
You know.
Speaker 6 (21:27):
I'm in my mid forties now, and i want to
make sure that I'm giving myself the best possibility you know,
when retirement comes along. So I'd really love your opinion
on this little conundrum. Thanks guys, love your work boogie.
Speaker 4 (21:43):
Oh my god, it is incredible that she was able
to get that down from fifteenty to fifteen.
Speaker 2 (21:48):
That's amazing. That's really really cool. I mean, I don't know.
I'm not on my omed, so I'm trying real hard
to bite my tongue and let you guys talks.
Speaker 4 (21:58):
I think that Victoria might say to wait, actually actually
because of what I say. Well, I don't know, but
I'm thinking sure that you could do like half half
as long as your debt isn't climbing with interest and
you're still chipping into it and you're not. Yeah, I
think it's if your debt is slowly going down and
it's not gaining interest and like doubling tripling in price
(22:19):
over time, then both are a priority. I would say,
But I don't know, because I'm not a finance expert.
I want to say it's congratulations, because it can be
very very stressful and to overcome that and not be like,
it's really cool.
Speaker 2 (22:33):
I totally agree. That's really exciting. You've made so much progress.
Well done.
Speaker 3 (22:37):
Yeah, I would say, run the numbers on the opportunity class.
We don't know what your interest rate is on your
credit cards, and they can be. I mean, they're really vary.
Vd's probably got a better gauge on what they are
than I do. But I would say, run the numbers
on what your credit card interest or payment looks like
and how long it's going to take you to pay off,
(22:57):
because I think if you said or I could buckle
down pay that last fifteen thousand dollars off over let's
say twelve eighteen, twenty four months, versus how much you
would make if you're contributing to the share market over
that time, using you know, an average rate of return,
say seven eight percent roughly conservatively, I personally would probably prioritize.
Speaker 2 (23:20):
Paying down the debt. That's just my choice.
Speaker 3 (23:23):
I think a good happy medium is you can turn
your roundups on on your shares arse so you still
have a little bit of money trickling in. You can
still feel like you're contributing. You're making a bit of progress.
You don't really see it going, but you're not, you know,
putting bulk lump sums in. Rather, you're putting those debts
to your debt repayment. And then once that's done, you
know that whenever you were contributing to your debt repayment
(23:44):
you can then start investing. But as I said, I
feel like miss Queen over here is probably kind of
better idea.
Speaker 2 (23:51):
Is it my turn? Is it my turn?
Speaker 5 (23:53):
Yeah?
Speaker 2 (23:53):
So paying off your high interest debt is an investment
in itself. Like you told me that you have debt
for a relationship. No, you didn't tell me the interest rate, Jess.
You are right, you should be looking at the interest rates.
Both of you said that. But if you're telling me
that that is personal debt, I can't give you personal advice.
But paying off your high interest debts first is going
(24:16):
to be an investment in itself because the sooner you
pay that off, the less interest you're paying, and that
is such a better return than anything you can get
in the share market because right now, over the last
thirty years, the average rate of return of the Australian
share market is sitting at about nine point eight percent,
and then if you like zoom out international markets, it's
about eleven percent. Right, sexy, But I can almost guarantee
(24:39):
if you're telling me it's credit card or personal debt.
Credit card and personal debt anywhere in Australia sits between
fifteen and twenty five percent, sometimes can be astronomically more,
you're telling me that if I direct my money to
my high interest debt, I'm going to get basically a
fifteen to twenty five percent return by paying that off sooner.
(25:00):
You're not getting the return in your bank account, so
it doesn't feel as good, but you're saving the money
you're getting out of debt sooner, which means the second
you've stopped being aggressive about paying that debt off, you
know where that money can go straight into an investment.
So for me, it's about that high interest debt and
making it a priority to smash it out. Would I
(25:20):
still save during that time is a different question. I
would personally make sure that I had an emergency fund,
because if you get up the creek without a paddle,
you can rely on your emergency fund instead of going
further into debt. But investing right now, that investment is
(25:41):
potentially paying off your debt as aggressively as possible. But
on the flip side, you might be thinking, if you're
a listener, but fore what about my mortgage? But that's
different again because most mortgages at the moment are sitting
ideally at around or under five percent. So if we
look at a five percent return versus that nine point
eight or even eleven percent, you can see that that's
(26:01):
like a maybe lower priority because it's a lower interest rate.
So you might get better return on your money by
doing a better interest rate. So the important information here
is really the semantics of your debt. If you go,
we'll actually via I've got this really slay personal debt,
and like there's all these additional nuances that I'm not
sure of, and you go, well, actually, my personal debt
(26:22):
sitting at five percent, Well, actually that might change the
game again because your return on your money and the
money that's coming into your bank account today could literally
be working harder in the share market. But what I
can guarantee to be true is if you had an
eighteen percent credit card that you are paying down, and
you also had a shares account that's returning you nine
(26:45):
percent per annum, your money is going to go further
paying off that debt. That is just the maths of it.
It's not about oh it would be nice, and I
know you said, Look, I'm in my forties and I
feel like, you know, retirements getting away from me. The
best thing you can possibly do is do the numbers
and go Okay, it's not really about how I'm feeling
(27:06):
right now. It's about the maths. What maths. Math's harder,
so that at the end, when I'm in retirement, I
actually have more money. And more often than not, you're
going to find yourself having more money because you literally
paid off your debt quicker and they could invest more
instead of stretching that debt over a long period of
time and getting screwed with the interest rate. As soon
as we said, for the emotional toll too, that having
(27:27):
that debt hanging over your head can hold, especially if
it's from, as you said, a previous relationship. They just
want to get rid of it. I totally get it. Yeah,
so sorry, that's me being aggressive. Is that spooky when
I get scary? Yeah, it's giving scary. You don't.
Speaker 3 (27:42):
Yeah, it's like a sleep paralyss esteem and you just
wake up a victoria standing over the bed.
Speaker 2 (27:47):
Debt has me Again. I didn't mean to scare you,
but that interest rate is really scary. I wish you
were myly proless estemon. That's so nice of you guys
to think of it. He's so guy. Do you want
to talk gossip though, because oh we have a JUICYDM
that we got this week. Are you ready for this? Absolutely?
(28:09):
All right, high team. I've got a dilemma that's as
much about family as it is about money. My parents
gave my partner and I fifty thousand dollars for our
first home deposit, but I later found out that my
partner already had one hundred thousand dollars from an inheritance
we bought the place, and that fifty thousand dollars I
got is now sitting as out emergency fund. The thing is,
(28:31):
my mum is now really unwell. My parents are retired
and they're running low on cash. At the same time,
they're choosing to spend more money on a holiday they're
calling their last one. So do I give back the
fifty thousand dollars to help with bills or keep it
in case something goes wrong with the house. Our neighbors
are super dodgy and like the police are around monthly.
(28:51):
I feel torn between protecting our future and also letting
them live their life. What would you guys do? WHOA
give the money back? Sorry, I don't know. That's okay,
That's exactly how I felt immediately. Okay, That's what I've heard,
but then I was also like, oh, okay, Like.
Speaker 4 (29:07):
I don't feel like on paper like we're removing emotions.
We're removing everything except for written word on paper and
so in that situation, but I'm taking all emotion everything
out of it.
Speaker 2 (29:21):
I'm thinking like, huh, it would.
Speaker 4 (29:24):
Be a nice thing to do to give the money back,
but it's not essential.
Speaker 2 (29:27):
You don't need to do that. And it's almost like,
but I just think, like as soon as they said
my mum is sick, I'm like, what, Yeah.
Speaker 4 (29:37):
I'm throwing that money back if I couldn't afford it,
because I feel like if someone gave me that money
and I it would be gone by now.
Speaker 2 (29:44):
For sure. I actually couldn't afford to give it back.
Speaker 4 (29:47):
But if I still had it and other money and
I wasn't like really struggling, If I was really struggling
and I still had it, I would give at least
majority of it back. I'd be like, Okay, I'll keep
like ten k for myself because I'm also struggling over here.
If everyone was like okay with that, you know, all
that stuff, I may make sure it's okay, but I
would not think twice I'm giving that money back.
Speaker 2 (30:08):
Yeah, I totally agree.
Speaker 3 (30:09):
I think that, Yes, I understand that maybe the holiday
thing is potentially throwing our listener, And I would say, like,
my best sense on that is probably if you're saying
your mum is really ill, it might be like an
end of life. That sounds really morbid, but it might be,
you know, this is my last opportunity to go away
with my husband, to do the things that we always
(30:30):
said we were going to do, because now she's confronted
with her mortality. You know, it truly might be they're
saying their last holiday, their last hurrah, which is a
really sad concept. But I can understand how you might
look at and go, oh, well, they're spending money on
a holiday, so I can't be that down bad. But
I think like, if you look at it from that perspective,
you know, I really can understand it. Oh yeah, you know,
(30:52):
wanting one last great memory before whatever illness it is
that she's struggling with potentially becomes a lot.
Speaker 2 (30:59):
More difficul to manage. I agree.
Speaker 3 (31:02):
I think, to me, there's no question if someone I
loved needed help and it was within my means to
give it to them, why would I not You know,
I understand wanting to protect yourselves and look after yourselves,
and as you said, if you had spent the money,
I think it would be a different story. But knowing
that it's just sitting in a bank account, yes, obviously
it's working hard for you. It's your emergency fund, which
we do say is very very important. But for me,
(31:24):
it really comes down to just such a simple thing
of if I can help somebody that I love, why
would I not, you know, And I think, as you said,
great idea, perhaps keep a little bit of it so
you don't have no emergency fund. But yeah, to me,
it's quite black and white, and I'm trying to look
at the nuance and I'm trying to Devil's advocate it.
And you know, I totally understand that you also have
(31:46):
yourselves and your own family to think about, but they
gave you that gift out of love, which they didn't
have to do, and I would like to think that
love would mean that you would want to do whatever you.
Speaker 2 (31:56):
Could as well. Yeah, And I feel like there's two
sides to this coin, right, Like keeping the money honors
the intention that your parents gave it to you with,
which is setting you up and making sure that you're
financially secure, and your parents probably feel really good about
that decision because they're like, oh my god, look what
we did. Like you know, they don't know, or I
(32:17):
don't know if they know, but like the semantics around
your partner having an inheritance and the fifty thousand dollars,
like they really think that they helped you get into
your first home and that's really really beautiful. On the
flip side, if my parents were struggling, I would backflip,
you can have all my money. That's what do you need.
Like that's just who I am as a person. And
that's not me going oh I'm so good. It's just
(32:39):
I see money as something that comes and goes. And yes,
I would love to still have an emergency fund, but like,
to me, that's an emergency, is it not like my
mom's sick? Totally Like to me, that's what an emergency
fund is for. On the flip side, I would love
for this listener to have a think about, like, well,
what does an emergency fund to actually look like, because like,
(33:01):
holy boacamole, you are so young. Fifty grand in an
emergency fund, like that's a lot, Like most people do
not have access to that. Like, don't get me wrong,
I'm not saying that we need to go back to
exactly averages because we know that the average Australian, due
to Westpac data, cannot access five hundred dollars in an emergency.
(33:21):
So it's like two thirds of Australians can't access five
hundred dollars in an emergency. It doesn't mean that you
need to go back to that, but like twenty thousand
dollars might take the pressure off. But also, sorry, zoom out.
Have you spoken to your parents? Are they just stress heads?
Like and this is just me extrapolating this out, they
stress heads around money and just like oh my god,
everything's so expensive, like the hospital bills, they're this, they're that,
(33:43):
But they actually have a nice retirement fund. But they're
just a bit frugal about money. And this narrative is
coming out. Have you spoken to them and you're like,
oh my god, hey, I don't know if you know this,
but that money that you gave us, Like I know
that you said it was an early inheritance, but it's
just sitting in that account. We really don't do you
need it back? Like, have a conversation with your parents,
(34:03):
I can always guarantee they'll say no, but like maybe
they'll be like, oh, actually, could we borrow x amount
of it? Like we will return it or whatever. Like
I don't know what that narrative looks like. But for
me in my situation, if my parents needed my last dollar,
I don't know, Well, it's this like yeah, and I'm
not saying that that's right for everybody else, because like
I have friends who have terrible relationships with their parents,
(34:26):
and if their parents were like, hey, have you got
ten bucks, they'd be like, get in the bin. Yeah,
And that's totally okay too, Like that is so fine.
I'm not saying that this is a right or a
wrong situation. I think it's like your family nuance, Like
you've got to read into that, and I can't tell
you what's right. Like at the start of her dilemma,
she's like, this is a family thing as much as
it's a money thing, and like my family structure is
(34:47):
different from yours, Beck, it's different from yours, Jess, Like
it doesn't really matter. It's not about being a kind
and generous person. It's just like that's how my family
dynamic works. Yeah, And so I think that's worth pointing
out as well, because I'm not saying you're not being
I'm not saying you're not being kind if you kept it,
do you know what I mean? Totally yeah, I don't know.
But we also asked the community, and this is one
of those ones where I'm like, I'm glad we asked
(35:08):
the community because I need help answering this because again,
you said it best, yes, and like I was chomping
at the bit a butt in, but I'm such a
black and white person and it is to my own detriment,
like I am like right and wrong. And then beck
I would say, you're the best at this. You're like
(35:28):
able to live in that gray area, like you're like,
oh well in some cases, and I'm just like, oh no,
like I just that's wrong. I can't do it, Like
I'm just so down the line. And that has been
for a lot of my life to my own detriment
because I just can't see sometimes like the nuance of
a situation or accept it. And so I'm glad that
(35:50):
we got the community's opinion because I was like, thank
you for being my grace base. So we first asked,
have you ever received money like this from a parent,
and I don't think anyone is going to be surprise.
But seventy percent he said no, absolutely not. Twenty eight
percent of you said yes and they were okay, and
then three percent of you said yes and then they
struggled after okay. So it's like it's not just our list.
Speaker 1 (36:11):
No, no, no.
Speaker 2 (36:12):
And then I asked, well, what would you do in
this situation, and fifty nine percent of you said, look,
I'd be trying to find a middle ground. Thirty five
percent said I'd be giving the fifty k back they
need it, and then six percent said I'd keep it.
It was a gift. Yeah. Now we then obviously went
in and I said, well, give me your two cents.
First person, talk to them, as Jess would say, the
(36:37):
key is communication. Is anybody surprised? Next person said, does
it have to be all or nothing? Surely you could
negotiate a part. Next person said, pay a reoccurring bill
for them, take some pressure off by paying their rent
or rates, or body corporate for them to help out,
so that it could ease the pressure. It's a great
middle ground. Yeah. Another person said, I think the guilt
(36:59):
would eat you up. They probably wouldn't accept the whole
amount back anyway. Yeah, yeah, totally. Another person said I'd
offer to contribute to the holiday in a really significant way.
I'm like, hey, yeah, actually, can we like make this
really special for you and pay for your flights and
accommodation or something. Someone else said this, and I think
this was really smart. Why is your fifty k in
(37:21):
the emergency fund not his? Because he contributed one hundred
thousand dollars and then you contributed fifty thousand dollars, but
your fifty thousand dollars was the emergency fund instead of
doing fifty thousand dollars each and then he fifty thousand
in the emergency fund. I'm assuming they just fully share finances,
so it's like their money. Yeah, I agreed. Like, if
my husband and I were gifted money from my parents,
(37:43):
it came into our account, it would be our funds. Yeah,
so see, does that make sense? Yeah? So like that's
just the assumption that I would. Sure. Yeah, And like
even when and I'm not saying this is just like
nuance because you guys are pervy and so am I,
but even when my husband and I were saving for
our first time home, we both were on very different
incomes and salaries. By the way, it was me who
(38:04):
was the really low income earner at that point in
our life, and Steve had a significantly bigger house deposit
than me. The answer was actually like, well, actually it's
our money. That's fine, Like, I know, I've contributed more
and now like the narrative has obviously shifted and I'm
that bread winner in that relationship. But like we never
really saw it as like Steve contributing, you know, for example,
(38:25):
one hundred thousand dollars and me contributing fifty. Sure, so
like maybe, yes, maybe it's really split financewers. Again, money
has so much nuance. The next person said, you've hopefully
had a few years benefiting from that fifty thousand dollars
being in an offset account, saved interest. You could give
it back happily. Another person said, book a family trip
(38:45):
together with the money and spend time with your sick
mum before you're not able to any like that idea. Yeah, yeah,
gate crash their holiday. Well if they if that's something
that they would want. I think if I was like
talking to my parents and they're like, you know, obviously,
the nuance of this conversation is different. But if my
parents were like, yeah, we're going to go on this big,
beautiful holiday and I'll be like, oh, we're coming, they'd
be like please, no kids. No kids. Like I'd be like,
(39:10):
isn't it all inclusive? If you take your dad on
a holiday works anyway. That is the commentary from the community,
and I feel like that's a really good place to
leave it. Unfortunately, communication is key, Jessica, That's it. And
it goes back to talking to your parents about this,
I think, and then even talking to your partner. Have
you had those conversations about how they feel and what
(39:33):
that looks like, because you're right, you didn't come this
far buy a house to then go back to having
absolutely no money, But what could it look like totally anyway,
have a very spooky season. I'm hoping that money isn't
as scary for a lot of you by this point
in the year. If it is, we're still here, we're
still vibing, and we'd see a lot of content coming
out over the next few months. Do we get there,
(39:54):
We'll see you next week. Guys. Bye, guys bye.
Speaker 5 (40:03):
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.
Speaker 2 (40:23):
Tailored towards your needs.
Speaker 5 (40:24):
Victoria Divine and She's on the Money are authorized representatives
of money.
Speaker 2 (40:29):
Sheper pty Ltd
Speaker 5 (40:31):
ABN three two one six four nine two seven seven
zero eight AFSL four five one two eight nine
My name is Tatasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country t Glenn Young
Ganya Niana, kaka ya Ya beIN Ahaka nian Ar gay
In Mbina, yak um Jar, Dominyama, Domagahawakaman, damon Imlan Wimer
bang gadabomba In and now in wakah ghana On yakram
jar Watnadaa. Hello, beautiful friends, we gather on the lands
(00:24):
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. Hello and
(01:11):
welcome to She's on the Money, the podcast that makes
personal finance less scary. This Halloween, It's also Friday, our
favorite day of the week because we get the team
together and we get to celebrate you the incredible She's
on the Money community, who are arguably a lot less
spooky than Halloween. Miss Jess Gricci. She's going to be
(01:32):
sharing our favorite money wins. Beck is back and she'll
be sharing her broke tips, and we'll be helping to
answer our money dilemma, which is all about whether you
should prioritize investing when you have debt and something that
you slid into our dms about this week, whether you
should give back an early inheritance when your parents are
now struggling, which I think is going to be rough.
(01:55):
So you guys know that Friday Drinks episodes, I would
say they're a little bit chaotic times and I always
ask my team how is your week? But I'm not
doing that. I'm not doing that. I don't care about
you week. Oh oh no, no I do, I do.
I already asked you though, so I already know, but
I really want to add something different and take that
time and then use it more effectively. Right, So we're
(02:19):
going to give you the chance to ask the team
one thing you want to know money life advice hot
takes literally anything, and then we're going to answer it
on the show. And because it is Halloween and it
is so Spookie, I thought i'd kick it off with
a spooky question from me because then I'm hoping that
our community dm us questions that they want to know
(02:42):
the answers to from Beck and Jess. I want to
know what is your scariest social money nightmare? Oo, Do
you have one ready to go that you would like
to Yes.
Speaker 3 (02:54):
I feel like for me, it's all about I know
we've showed out this in the share before, but it's
the having to follow people up for money.
Speaker 2 (03:02):
Oh yeah, I am.
Speaker 3 (03:04):
I'm totally happy to do it once because I think
we all forget right, Like I have absolutely gone to
transfer people money when I've owed them for like dinner
or something like that.
Speaker 2 (03:12):
But you're like wholesome, So if I was to ever
follow you up, I think you'd be like, oh my god, sorry,
here it is immediately. It's not evasive totally.
Speaker 3 (03:19):
I think my worst nightbrary is being on the end
where like somebody owes me a lot of money that
I then need to.
Speaker 2 (03:24):
Chase because I think I feel, you know, you feel guilty.
Speaker 3 (03:28):
About it, but then you need the money or you
want the money. I feel like the stress of just
like having to follow someone up a lot is very
uncomfortable to me, and again, like, thankfully not a position
I've ever really had to be in. But there's just
my worst nightmare, my worst night social nightmare.
Speaker 2 (03:44):
Yeah. Absolutely. What is your scariest social money nightmare?
Speaker 4 (03:49):
Well, I'm very blessed with the best I have. I
feel very safe being broke girl in my friendship circles.
Speaker 2 (03:57):
I need to make you less safe. Yeah, that's totally good.
Like I just want to make you real rich. She's
got an axe coming out of her hand. I've threaten
you into a better money position. Oh, you put this here.
Speaker 4 (04:11):
But I think like the scariest thing for me is
when it's secondhand. Let's say, like you know, you're going
to visit your partner's family at Christmas, or a friend's family,
or like something that is beyond your close circle, whether
it's like immediate family or close friends or whatever. That's
when I get really anxious because it's like, you know,
for example, I've got to visit my partner's mum on
(04:33):
the Gold Coast and I'm going to have to bring something,
and that is making me so stressed because you can't.
And I think there's something about that secondhand, or like
when someone doesn't know you as well as you're close
people and you are expected to like just buy like
a nice, thoughtful thing that isn't super personalized because you
don't know them as well either, so it has to
(04:53):
kind of come from a little bit of money has
been a good bottle of wine or a good something.
Speaker 2 (04:59):
This together, I think that stresses me. Work on it.
Will work on it, and you, Oh my god. I
thankfully I got to go last. But while I was
listening to yours, I was just thinking of all these
other things that I could add. So first is when
someone says, let's just split the bill equally, Oh yes,
I just had an entree. The next is our group presence.
(05:21):
So when you've been like, oh, I'm going to Jess's
birthday and like you've already planned your stuff, and then
someone goes, oh my god, well it's actually her thirtieth birthday,
so we should all go in and get her a present,
and then they dictate the budget. Yeah nightmare. And then
my last one I can't remember, so you just stop
getting it. We're giving too and you're just telling to
(05:42):
I was like, what is this, Like, what's my last one?
And it's literally just left my brain. Yours were really good, though,
and I really really liked them because it's like getting
a little bit more insight into the two of your brains,
which I really really like. So moving forward, if you
guys have a question that you are dying for us
to respond to, it doesn't even have to be money.
It could be like something totally unhinged, because like Friday
(06:04):
Drinks is just a vacato totally my favorite cereal. To like,
what do you want to know? Pop it in a
comment section on Spotify, and I'll also link the question
call out in our thread that we're going to put
on our Facebook group in the show notes so that
you can go straight to that as well. So just like,
ask all your questions, because I think it'd be really
fun to ask Beck and Jess and maybe even me
(06:25):
sometimes what our thoughts on things are. Yeah, because I
can guarantee our brunches when we catch up they're wild
because we're all so different. Yeah, that's so true. Isn't
that beautiful?
Speaker 1 (06:37):
Yes?
Speaker 2 (06:37):
But also so unhinged sometimes I'm like, what is going
on inside her head? Anyway, Let's move forward. So apart
from being unhinged, we also like to stroke our own
egos and still talk about our community. Would you guys
like to hear a five star review. Yes please, all right,
So I picked this one because de Lulu has been
the word of my week. So from de Lulu true
(06:59):
money Queen from Perth Goal. By the way, while I'm
wearing this, if you're not watching it on YouTube, I'm
wearing a very large tiara. Oh go look at the videos.
Surely Instagram something dressed as a witch. Beck Is. I
don't know what beck is. Beck has just scorne through
the costume box. She has an axe coming out of
(07:20):
her head. She has a princess tiara and a cape.
Exactly She's ready and obviously it means I am something
something good good Halloween s Anyway, This one is from
Perth Gal twenty three and she says, I am so
happy I found this. My money story was all about
spending it before someone else spent it For me. I
(07:42):
have learned to trust more of myself and that saving
for a rainy date is actually so much less stressful.
I listened to this religiously now and I'm always waiting
for the next episode. Love the honesty, the tough love,
and the beautiful friendships that shine through all of your episodes.
That's so nice that me what is going on inside
her head them beautiful relationships Me. Yeah, I'm so nice. Friend.
(08:07):
I'm going to come through that. Sorry, But I love
a five star review. And I love hearing how you
guys are getting on. How long you've been with the community.
You know, earlier this year, we launched our rebrand, and
I had so many people messaging us being like, oh
my god, Ve Like when I saw all those videos
of your rebrand, like I couldn't believe how long I've
been here for. Like I saw them and I was like, oh,
I remember that, And sometimes I'm like, I wish you didn't.
(08:32):
Oh that's really cute. Yeah, that's really really cute. Anyway,
more about our community, Miss Jess, I got to eat
chea community. Money wins, what are you bringing to the table?
Speaker 3 (08:39):
Alrighty, first of this week, I have one from Elisa,
who said money win. I did my groceries through the
shop back at this morning and got twenty five dollars
in cash back.
Speaker 2 (08:48):
Gorgeous twenty fi. I know how good.
Speaker 3 (08:51):
I would bit of a theme this week groceries. It
seems they are pretty spooky. Cost of living absolutely. Next time,
I money from Alex who said she bought six chickens
for thirty dollars a chicken and she'll never have to
pay for eggs again.
Speaker 2 (09:03):
But now you have to pay for grain, and now
you have pets. I would be such a chicken girl
if I got them. I think sick chicken sounds like
the perfect amount of chickens to each Oh my god.
I am also just so farm oriented at the moment. Like,
as you guys know, we've been looking for a house,
trying to work out where we want to live, and like,
in that I have been using real estate dot com,
(09:24):
dotter you basically as Instagram, Like I scroll through that
stuff on the daily. Love right, Yeah, Like what if
Steve we moved to a farm and got cows and
chickens and He's just like absolutely not. Then you know
what I do. I go into the office. Jess doesn't
know this yet. You're not going to care that much,
Beck because you don't know her. But you know Jacqueline,
one of my mortgage brokers, she's getting too highland cows.
(09:47):
Oh my god, I love babies. At the moment. When
you're in the office next, ask her for the videos
because I was screaming. She's currently trying to work out
what like to name them and I reminded her of
my friend Chloe Jane. She's on Instagram. She's a really
beautiful influencer from Adelaide. But she actually has two Highland cows,
(10:08):
so if you're not following her, you clearly need to.
But she has the Moose Brothers. Oh cute work out,
Oh my goodness for today's episode, the Booze Brothers. Yeah,
I'm gonna ask her if she can put some pumpkins
around her for me. Make them spooky, make them anyway. Sorry,
that was really I told you that these episodes are chaos.
(10:29):
I'm sorry. That's okay. Can you tell I didn't take
my Adhd Mede this morning? Oh yeah, we get out
all right.
Speaker 3 (10:38):
Next, I've got a money win from Alyssa spelled differently,
who said money win.
Speaker 2 (10:43):
Aldi opened in her town.
Speaker 3 (10:45):
I see a lot of people talk about how much
they're saving with ALDI, so I feel like that's a
really good one. Next, I've got a money win from eighty.
He said she saw a print that she loved at Adairs.
She went in to get it and it was ticketed
at one hundred and twenty nine ninety nine when it
should have been one hundred seventy nine ninety nine.
Speaker 2 (11:01):
Oh so she got herself a hot little deal. The
price she put in a photo. It's farm friendly, it's
a horse yeah, which is farm episode? Oh my god?
Can we just start theming the episode, pay for all
of them? Yeah, and we're gonna pick terrible themes yeah,
no Halloween just like farm yeah yeah yeah yeah or
(11:22):
loose thread yeah.
Speaker 3 (11:25):
And then lastly, this week, I've got a money win
from Hannah, who said instead of paying six dollars or
more for a vegan ice cream when she was out,
she bought a pack of four vegan Trumpet ice creams
from Coals for nine dollars fifty Trumpet deal.
Speaker 2 (11:37):
I don't know what a Trumpet ice cream is. I
think it's a brand. Yeah, okay, I am all about
the waste bar at the moment. Really, this week, I've
eaten four just this week alone. Please don't ask if
any of them were on the same day, because maybe
they were. The doctor away and Beck, do you have
any broke tips? I feel like broke tips could be
a little bit spooky. They could be, and I'm going
(11:57):
to try and make these spooky. Say them and you're spooky,
spooky voice.
Speaker 4 (12:00):
Okay, So this one's from Emma who may or may
not be our breaths a bit sultry, doesn't it sounds
a bit sexy.
Speaker 2 (12:10):
Our producer? Is that scary or it's that hot? So
Emma who may or may not be.
Speaker 4 (12:15):
Our producer, said that she had a dress up on
Facebook Marketplace since April hadn't had one message about it,
but on the weekend she finally had someone who messaged
and bought it straight away because she was getting ready
for her Christmas parties, which leads us to say, this
is a reminder to go through your wardrobe for unwanted
Christmas party outfits and wedding outfits because it is wedding
(12:36):
season and makes some extra cash on marketplace when Henny
is Christmas and wedding season and Halloween sees it. So anything,
even if you have something you were like this is hideous,
someone somewhere will need it for Halloween or Christmas or
some sort of party.
Speaker 2 (12:50):
I'm wearing a tiara right now. This was a necessary
purchase exactly Victoria's wearing a tiara. And if you have
online around, you haven't been able to sell a tiara
all year. Now it's probably the all time now.
Speaker 4 (13:00):
The time I've driven far and wide find a fluffy
Sanda hat. If you got a fluffy Sanda hat out there,
someone's gonna buy it anyway.
Speaker 2 (13:07):
I still remember that from last Christmas. Yeah, and I
was like, are you joking? I have like six Yeah?
Speaker 4 (13:12):
Oh well I haven't seen no hard nor hair fluffy Christmas.
That's but I would really like one. If it's a cow,
buy it off you. Yeah, okay, all right, well I
can bring one in for you. I just need to
get my Christmas storage box open and then it's all yours.
But I feel like, because it's Halloween, it should be
illegal to open your Christmas storage boxes yet.
Speaker 2 (13:28):
But do you know what I reckon? Jess is already
planning the day after Halloween Christmas tray up y y.
Why am I not surprised? No, I'm so with you. Okay,
So this one comes from Ali.
Speaker 4 (13:39):
Ali has slid into my DMS to let me know
that Farmer's Pick now has meat. You know those veggie boxes.
Is like, and so if anyone doesn't know Farmer's Pick,
it's like it's similar to fugly where it's just like
all the kind of like ugly vegetables, ugly fruits, they
kind of go into a box and they get set
and they're really really good.
Speaker 2 (13:56):
They're great for you that there's nothing wrong with them.
They're just a little bit ugly.
Speaker 4 (14:00):
And so now they have meat, which might make you
think like, Ooh, I don't know if I want to
get meat from but it's so fine.
Speaker 2 (14:06):
It is very good for you.
Speaker 4 (14:07):
I don't know where this sourcing is me maybe it's
just from like cheaper butchers or something like that, but
you can now get meat on there and I feel
like me is very expensive, so it's a really good tip.
Speaker 2 (14:16):
Yeah, and it's probably not in QR meat. Honestly, if
I ran a veggie box series and I was like
selling NQR carrots right, first things first, my chopping skills
lack a lot of nuance, so by the time all
the veggies are chopped, you're not going to be able
to tell. You'd be like, that's fine totally. But if
I ran a veggie box company, adding meat when you're
(14:39):
already doing the order just makes sense. They're probably just
orderating it in bold dinner in a box basically genius.
Oh my god, actually might jump on this after we
finished recording. I feel like Marley Spoon is like dinner
in a box though that's like even more planned, like
that would be. My broke tip is just like use
my Marley Spoon code and just get some free meals
coming up to Christmas so that you can save a
(15:00):
little bit more.
Speaker 4 (15:01):
Yeah, that's so, it's actually crazy. So I think that's fantastic.
Do your whole Christmas dinner.
Speaker 2 (15:07):
On my spooed. I'm sorry just to jump in there.
You think that's funny. They do, They do crazy, they do.
So I did this at Easter time. Yeah, they have
there And this is not an ad, this is not sponsored.
This is just I have been indoctrinated into the cult
of Marley Spoon. So therefore when we talk about food,
I just want to tell you about my positive experiences.
So they have their like you know, meal kits, and
(15:29):
then they have their marketplace, and inside their marketplace they
do like a roast pork for six people, a broccolini
side for six people, and you can mix and match
your own things, so you don't like roast pork, no worries.
They've got a whole roast chicken thing that you can pick. So,
like I mixed and matched and had the most seamless
Easter dinner with my family over. So we had like
(15:50):
a really beautiful pork belly. There was like these candied
sweet potatoes. We had the broccolini. We had like these
like roasted carrots. Everything was gorgeous and there was a dessert.
So you just add them all to basket. And I
remember thinking, oh, maybe this is the lazy option, which
that's why I did it, But it ended up being
really economical because I was like, hold on, hold on.
(16:11):
I looked at the pork belly and it was basically
the same price for the pork belly to be sent
to me as the pork belly at the supermarket at
the time. But they sent the herbs, the spices, the garnish,
like all of that, and it was bloody organic. I
was like, this is good. I'm living. I'm basically a genius.
That's so good. So I haven't seen it yet because
it's obviously not Christmas time yet, but I reckon they'll
(16:34):
do a Christmas series for us, Marley Spoon, if you're
not going to and putting the pressure on here, because
I would like to see that. Thank you so.
Speaker 4 (16:39):
Stress less about the Christmas lunch and dinner because Marley
Spoon maybe will have you covered.
Speaker 2 (16:45):
I'm going to call Marley Spoon and be like, did
you know Beck wants some sponsorship money? It sounding like
I'm sponsored by them. I wouldn't hate it. I wouldn't
hurt a little bit of money.
Speaker 4 (16:57):
No, So my tip this week is make your own
dish washing tablets. I saw this thing on TikTok, and
I can like send the link, I can put it
in the show notes if you guys want. But it's
like you can ice tray, ice cube tray, and you
I believe it is like maybe one part dishushing liquid,
some toothpaste, just a little dollop, baking soda, a little
(17:17):
bit more dishoushing liquid, a different color, just to make
it look a little bit more like a finished tablet.
Speaker 2 (17:23):
But you don't have to do that. You can do
whatever color and you chuck.
Speaker 4 (17:26):
It in the freezer and then you just pop it in.
It literally looks like I think, like the toothpaste. You
just put a dollop and it looks like the little
red circle in a dish washing tablet.
Speaker 2 (17:35):
I have heard of people using toothpaste to like polish things,
so I kind of believe.
Speaker 4 (17:39):
It yes, I polish a lot of my silverware with paste,
so I think that's it's doable. And so you pop
that in the freezer and then you pull them out
and like from memory, I don't have a dishwasher anymore,
but it was like seventy dollars for like a thirty
pack or something.
Speaker 2 (17:53):
Is it still expensive?
Speaker 1 (17:54):
Still?
Speaker 2 (17:54):
Away?
Speaker 4 (17:55):
So I'm like dishrushing liquid and toothpaste and baking soda.
Speaker 2 (17:59):
I'm like that it's so much cheaper. I don't know
if it'll like be really sudsy. I don't understand how
that all works. I don't know how it works. It
sounds like a lot of effort. But can I add
to that broke tip please? So like dish washing tablets
astronomically expensive, like pane of my existence? Why did I
think I had to buy them?
Speaker 5 (18:16):
Though?
Speaker 2 (18:16):
Oh, you don't actually have to buy dish washing tablets, like,
and you know what, great broke tip if you really
want your dish washing tablets. But Beck, I've just stopped
buying dish washing tablets. And for three dollars ninety at coals,
I buy a kilo of dish washing powder. Oh, and
like I just pour that into the little canister and
she does a good job. I think it's like lemon
fresh or something gorgeous. Perfect. Sorry, it does the job.
(18:38):
And it's three dollars ninety for a whole damn kilo. Really, yes,
it's just like powder and like it comes in like
you know, like the old school laundry, like you containers
with like you screw off the top and they pour
it in. I just like, I don't measure it. Maybe
I should be measuring it. I just measure with my
heart and I just fill up the little plastic container
and chuck the lid closed. When back, ma'am, I still
(19:00):
haven't run out three dollars ninety. That's so don't quote
me on that because it might not be three dollars ninety,
but I'm sure it is. I'm absolutely certain it's under
four dollars. That's so cool. Under four dollars. Like, why
do we need dish washing tablets? I know, great money tip,
like or broke tip if you're like I really like
having you know, stock and just chucking them in money win.
But like, sorry, I'm even lazier than that. And I
(19:21):
also just do you need a dish washing tablet? A
parent light don't know. That's it. Well that's me for
this week. All right, Well, let's head off on a
really quick, maybe not so scary break because after the break,
we're going to be having a chat about your money dilemma,
which is all about whether you should be prioritizing investing
when you actually have debt and something that you slid
into our dms about whether you should give back an
(19:42):
early inheritance when your parents are now struggling. So don't
go anywhere, welcome back. Sorry. I hope that every listening
is just leading in because I'm having lots of fun. Yeah, leaning,
and don't get too scared. I'm only wearing a tr
because Jess lindsay in. Let's listen to this week's book
you Money Dilemma.
Speaker 5 (20:06):
Hi, there, have you got a money dilemma you just
can't solve? The 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 2 (20:24):
Now, let's take a listen to this week's money dilemma.
Speaker 6 (20:29):
Hey guys, my question today is well, really just wanting
your opinion on the whether you think you should be
prioritizing paying off debt over having investments and savings. So
a bit of my backstory is that I have a
considerable amount of debt a few years ago after coming
out of a relationship unfortunately, and so IF worked hard
(20:50):
over the last few years to get that down from
about fifty thousand to about fifteen thousand. And I also
have a couple of credit cards. So while I'm doing
well to actually get those under control now, I have
actually also started looking at and I've opened up a
Sharesy's account thanks SotM, and a Raise account. However, there's
(21:13):
all always that nagging feeling the back of my head
that I shouldn't be putting money in these platforms, that
it should all be going towards my paying off my debt.
I feel like that's not practical for people.
Speaker 1 (21:27):
You know.
Speaker 6 (21:27):
I'm in my mid forties now, and i want to
make sure that I'm giving myself the best possibility you know,
when retirement comes along. So I'd really love your opinion
on this little conundrum. Thanks guys, love your work boogie.
Speaker 4 (21:43):
Oh my god, it is incredible that she was able
to get that down from fifteenty to fifteen.
Speaker 2 (21:48):
That's amazing. That's really really cool. I mean, I don't know.
I'm not on my omed, so I'm trying real hard
to bite my tongue and let you guys talks.
Speaker 4 (21:58):
I think that Victoria might say to wait, actually actually
because of what I say. Well, I don't know, but
I'm thinking sure that you could do like half half
as long as your debt isn't climbing with interest and
you're still chipping into it and you're not. Yeah, I
think it's if your debt is slowly going down and
it's not gaining interest and like doubling tripling in price
(22:19):
over time, then both are a priority. I would say,
But I don't know, because I'm not a finance expert.
I want to say it's congratulations, because it can be
very very stressful and to overcome that and not be like,
it's really cool.
Speaker 2 (22:33):
I totally agree. That's really exciting. You've made so much progress.
Well done.
Speaker 3 (22:37):
Yeah, I would say, run the numbers on the opportunity class.
We don't know what your interest rate is on your
credit cards, and they can be. I mean, they're really vary.
Vd's probably got a better gauge on what they are
than I do. But I would say, run the numbers
on what your credit card interest or payment looks like
and how long it's going to take you to pay off,
(22:57):
because I think if you said or I could buckle
down pay that last fifteen thousand dollars off over let's
say twelve eighteen, twenty four months, versus how much you
would make if you're contributing to the share market over
that time, using you know, an average rate of return,
say seven eight percent roughly conservatively, I personally would probably prioritize.
Speaker 2 (23:20):
Paying down the debt. That's just my choice.
Speaker 3 (23:23):
I think a good happy medium is you can turn
your roundups on on your shares arse so you still
have a little bit of money trickling in. You can
still feel like you're contributing. You're making a bit of progress.
You don't really see it going, but you're not, you know,
putting bulk lump sums in. Rather, you're putting those debts
to your debt repayment. And then once that's done, you
know that whenever you were contributing to your debt repayment
(23:44):
you can then start investing. But as I said, I
feel like miss Queen over here is probably kind of
better idea.
Speaker 2 (23:51):
Is it my turn? Is it my turn?
Speaker 5 (23:53):
Yeah?
Speaker 2 (23:53):
So paying off your high interest debt is an investment
in itself. Like you told me that you have debt
for a relationship. No, you didn't tell me the interest rate, Jess.
You are right, you should be looking at the interest rates.
Both of you said that. But if you're telling me
that that is personal debt, I can't give you personal advice.
But paying off your high interest debts first is going
(24:16):
to be an investment in itself because the sooner you
pay that off, the less interest you're paying, and that
is such a better return than anything you can get
in the share market because right now, over the last
thirty years, the average rate of return of the Australian
share market is sitting at about nine point eight percent,
and then if you like zoom out international markets, it's
about eleven percent. Right, sexy, But I can almost guarantee
(24:39):
if you're telling me it's credit card or personal debt.
Credit card and personal debt anywhere in Australia sits between
fifteen and twenty five percent, sometimes can be astronomically more,
you're telling me that if I direct my money to
my high interest debt, I'm going to get basically a
fifteen to twenty five percent return by paying that off sooner.
(25:00):
You're not getting the return in your bank account, so
it doesn't feel as good, but you're saving the money
you're getting out of debt sooner, which means the second
you've stopped being aggressive about paying that debt off, you
know where that money can go straight into an investment.
So for me, it's about that high interest debt and
making it a priority to smash it out. Would I
(25:20):
still save during that time is a different question. I
would personally make sure that I had an emergency fund,
because if you get up the creek without a paddle,
you can rely on your emergency fund instead of going
further into debt. But investing right now, that investment is
(25:41):
potentially paying off your debt as aggressively as possible. But
on the flip side, you might be thinking, if you're
a listener, but fore what about my mortgage? But that's
different again because most mortgages at the moment are sitting
ideally at around or under five percent. So if we
look at a five percent return versus that nine point
eight or even eleven percent, you can see that that's
(26:01):
like a maybe lower priority because it's a lower interest rate.
So you might get better return on your money by
doing a better interest rate. So the important information here
is really the semantics of your debt. If you go,
we'll actually via I've got this really slay personal debt,
and like there's all these additional nuances that I'm not
sure of, and you go, well, actually, my personal debt
(26:22):
sitting at five percent, Well, actually that might change the
game again because your return on your money and the
money that's coming into your bank account today could literally
be working harder in the share market. But what I
can guarantee to be true is if you had an
eighteen percent credit card that you are paying down, and
you also had a shares account that's returning you nine
(26:45):
percent per annum, your money is going to go further
paying off that debt. That is just the maths of it.
It's not about oh it would be nice, and I
know you said, Look, I'm in my forties and I
feel like, you know, retirements getting away from me. The
best thing you can possibly do is do the numbers
and go Okay, it's not really about how I'm feeling
(27:06):
right now. It's about the maths. What maths. Math's harder,
so that at the end, when I'm in retirement, I
actually have more money. And more often than not, you're
going to find yourself having more money because you literally
paid off your debt quicker and they could invest more
instead of stretching that debt over a long period of
time and getting screwed with the interest rate. As soon
as we said, for the emotional toll too, that having
(27:27):
that debt hanging over your head can hold, especially if
it's from, as you said, a previous relationship. They just
want to get rid of it. I totally get it. Yeah,
so sorry, that's me being aggressive. Is that spooky when
I get scary? Yeah, it's giving scary. You don't.
Speaker 3 (27:42):
Yeah, it's like a sleep paralyss esteem and you just
wake up a victoria standing over the bed.
Speaker 2 (27:47):
Debt has me Again. I didn't mean to scare you,
but that interest rate is really scary. I wish you
were myly proless estemon. That's so nice of you guys
to think of it. He's so guy. Do you want
to talk gossip though, because oh we have a JUICYDM
that we got this week. Are you ready for this? Absolutely?
(28:09):
All right, high team. I've got a dilemma that's as
much about family as it is about money. My parents
gave my partner and I fifty thousand dollars for our
first home deposit, but I later found out that my
partner already had one hundred thousand dollars from an inheritance
we bought the place, and that fifty thousand dollars I
got is now sitting as out emergency fund. The thing is,
(28:31):
my mum is now really unwell. My parents are retired
and they're running low on cash. At the same time,
they're choosing to spend more money on a holiday they're
calling their last one. So do I give back the
fifty thousand dollars to help with bills or keep it
in case something goes wrong with the house. Our neighbors
are super dodgy and like the police are around monthly.
(28:51):
I feel torn between protecting our future and also letting
them live their life. What would you guys do? WHOA
give the money back? Sorry, I don't know. That's okay,
That's exactly how I felt immediately. Okay, That's what I've heard,
but then I was also like, oh, okay, Like.
Speaker 4 (29:07):
I don't feel like on paper like we're removing emotions.
We're removing everything except for written word on paper and
so in that situation, but I'm taking all emotion everything
out of it.
Speaker 2 (29:21):
I'm thinking like, huh, it would.
Speaker 4 (29:24):
Be a nice thing to do to give the money back,
but it's not essential.
Speaker 2 (29:27):
You don't need to do that. And it's almost like,
but I just think, like as soon as they said
my mum is sick, I'm like, what, Yeah.
Speaker 4 (29:37):
I'm throwing that money back if I couldn't afford it,
because I feel like if someone gave me that money
and I it would be gone by now.
Speaker 2 (29:44):
For sure. I actually couldn't afford to give it back.
Speaker 4 (29:47):
But if I still had it and other money and
I wasn't like really struggling, If I was really struggling
and I still had it, I would give at least
majority of it back. I'd be like, Okay, I'll keep
like ten k for myself because I'm also struggling over here.
If everyone was like okay with that, you know, all
that stuff, I may make sure it's okay, but I
would not think twice I'm giving that money back.
Speaker 2 (30:08):
Yeah, I totally agree.
Speaker 3 (30:09):
I think that, Yes, I understand that maybe the holiday
thing is potentially throwing our listener, And I would say, like,
my best sense on that is probably if you're saying
your mum is really ill, it might be like an
end of life. That sounds really morbid, but it might be,
you know, this is my last opportunity to go away
with my husband, to do the things that we always
(30:30):
said we were going to do, because now she's confronted
with her mortality. You know, it truly might be they're
saying their last holiday, their last hurrah, which is a
really sad concept. But I can understand how you might
look at and go, oh, well, they're spending money on
a holiday, so I can't be that down bad. But
I think like, if you look at it from that perspective,
you know, I really can understand it. Oh yeah, you know,
(30:52):
wanting one last great memory before whatever illness it is
that she's struggling with potentially becomes a lot.
Speaker 2 (30:59):
More difficul to manage. I agree.
Speaker 3 (31:02):
I think, to me, there's no question if someone I
loved needed help and it was within my means to
give it to them, why would I not You know,
I understand wanting to protect yourselves and look after yourselves,
and as you said, if you had spent the money,
I think it would be a different story. But knowing
that it's just sitting in a bank account, yes, obviously
it's working hard for you. It's your emergency fund, which
we do say is very very important. But for me,
(31:24):
it really comes down to just such a simple thing
of if I can help somebody that I love, why
would I not, you know, And I think, as you said,
great idea, perhaps keep a little bit of it so
you don't have no emergency fund. But yeah, to me,
it's quite black and white, and I'm trying to look
at the nuance and I'm trying to Devil's advocate it.
And you know, I totally understand that you also have
(31:46):
yourselves and your own family to think about, but they
gave you that gift out of love, which they didn't
have to do, and I would like to think that
love would mean that you would want to do whatever you.
Speaker 2 (31:56):
Could as well. Yeah, And I feel like there's two
sides to this coin, right, Like keeping the money honors
the intention that your parents gave it to you with,
which is setting you up and making sure that you're
financially secure, and your parents probably feel really good about
that decision because they're like, oh my god, look what
we did. Like you know, they don't know, or I
(32:17):
don't know if they know, but like the semantics around
your partner having an inheritance and the fifty thousand dollars,
like they really think that they helped you get into
your first home and that's really really beautiful. On the
flip side, if my parents were struggling, I would backflip,
you can have all my money. That's what do you need.
Like that's just who I am as a person. And
that's not me going oh I'm so good. It's just
(32:39):
I see money as something that comes and goes. And yes,
I would love to still have an emergency fund, but like,
to me, that's an emergency, is it not like my
mom's sick? Totally Like to me, that's what an emergency
fund is for. On the flip side, I would love
for this listener to have a think about, like, well,
what does an emergency fund to actually look like, because like,
(33:01):
holy boacamole, you are so young. Fifty grand in an
emergency fund, like that's a lot, Like most people do
not have access to that. Like, don't get me wrong,
I'm not saying that we need to go back to
exactly averages because we know that the average Australian, due
to Westpac data, cannot access five hundred dollars in an emergency.
(33:21):
So it's like two thirds of Australians can't access five
hundred dollars in an emergency. It doesn't mean that you
need to go back to that, but like twenty thousand
dollars might take the pressure off. But also, sorry, zoom out.
Have you spoken to your parents? Are they just stress heads?
Like and this is just me extrapolating this out, they
stress heads around money and just like oh my god,
everything's so expensive, like the hospital bills, they're this, they're that,
(33:43):
But they actually have a nice retirement fund. But they're
just a bit frugal about money. And this narrative is
coming out. Have you spoken to them and you're like,
oh my god, hey, I don't know if you know this,
but that money that you gave us, Like I know
that you said it was an early inheritance, but it's
just sitting in that account. We really don't do you
need it back? Like, have a conversation with your parents,
(34:03):
I can always guarantee they'll say no, but like maybe
they'll be like, oh, actually, could we borrow x amount
of it? Like we will return it or whatever. Like
I don't know what that narrative looks like. But for
me in my situation, if my parents needed my last dollar,
I don't know, Well, it's this like yeah, and I'm
not saying that that's right for everybody else, because like
I have friends who have terrible relationships with their parents,
(34:26):
and if their parents were like, hey, have you got
ten bucks, they'd be like, get in the bin. Yeah,
And that's totally okay too, Like that is so fine.
I'm not saying that this is a right or a
wrong situation. I think it's like your family nuance, Like
you've got to read into that, and I can't tell
you what's right. Like at the start of her dilemma,
she's like, this is a family thing as much as
it's a money thing, and like my family structure is
(34:47):
different from yours, Beck, it's different from yours, Jess, Like
it doesn't really matter. It's not about being a kind
and generous person. It's just like that's how my family
dynamic works. Yeah, And so I think that's worth pointing
out as well, because I'm not saying you're not being
I'm not saying you're not being kind if you kept it,
do you know what I mean? Totally yeah, I don't know.
But we also asked the community, and this is one
of those ones where I'm like, I'm glad we asked
(35:08):
the community because I need help answering this because again,
you said it best, yes, and like I was chomping
at the bit a butt in, but I'm such a
black and white person and it is to my own detriment,
like I am like right and wrong. And then beck
I would say, you're the best at this. You're like
(35:28):
able to live in that gray area, like you're like,
oh well in some cases, and I'm just like, oh no,
like I just that's wrong. I can't do it, Like
I'm just so down the line. And that has been
for a lot of my life to my own detriment
because I just can't see sometimes like the nuance of
a situation or accept it. And so I'm glad that
(35:50):
we got the community's opinion because I was like, thank
you for being my grace base. So we first asked,
have you ever received money like this from a parent,
and I don't think anyone is going to be surprise.
But seventy percent he said no, absolutely not. Twenty eight
percent of you said yes and they were okay, and
then three percent of you said yes and then they
struggled after okay. So it's like it's not just our list.
Speaker 1 (36:11):
No, no, no.
Speaker 2 (36:12):
And then I asked, well, what would you do in
this situation, and fifty nine percent of you said, look,
I'd be trying to find a middle ground. Thirty five
percent said I'd be giving the fifty k back they
need it, and then six percent said I'd keep it.
It was a gift. Yeah. Now we then obviously went
in and I said, well, give me your two cents.
First person, talk to them, as Jess would say, the
(36:37):
key is communication. Is anybody surprised? Next person said, does
it have to be all or nothing? Surely you could
negotiate a part. Next person said, pay a reoccurring bill
for them, take some pressure off by paying their rent
or rates, or body corporate for them to help out,
so that it could ease the pressure. It's a great
middle ground. Yeah. Another person said, I think the guilt
(36:59):
would eat you up. They probably wouldn't accept the whole
amount back anyway. Yeah, yeah, totally. Another person said I'd
offer to contribute to the holiday in a really significant way.
I'm like, hey, yeah, actually, can we like make this
really special for you and pay for your flights and
accommodation or something. Someone else said this, and I think
this was really smart. Why is your fifty k in
(37:21):
the emergency fund not his? Because he contributed one hundred
thousand dollars and then you contributed fifty thousand dollars, but
your fifty thousand dollars was the emergency fund instead of
doing fifty thousand dollars each and then he fifty thousand
in the emergency fund. I'm assuming they just fully share finances,
so it's like their money. Yeah, I agreed. Like, if
my husband and I were gifted money from my parents,
(37:43):
it came into our account, it would be our funds. Yeah,
so see, does that make sense? Yeah? So like that's
just the assumption that I would. Sure. Yeah, And like
even when and I'm not saying this is just like
nuance because you guys are pervy and so am I,
but even when my husband and I were saving for
our first time home, we both were on very different
incomes and salaries. By the way, it was me who
(38:04):
was the really low income earner at that point in
our life, and Steve had a significantly bigger house deposit
than me. The answer was actually like, well, actually it's
our money. That's fine, Like, I know, I've contributed more
and now like the narrative has obviously shifted and I'm
that bread winner in that relationship. But like we never
really saw it as like Steve contributing, you know, for example,
(38:25):
one hundred thousand dollars and me contributing fifty. Sure, so
like maybe, yes, maybe it's really split financewers. Again, money
has so much nuance. The next person said, you've hopefully
had a few years benefiting from that fifty thousand dollars
being in an offset account, saved interest. You could give
it back happily. Another person said, book a family trip
(38:45):
together with the money and spend time with your sick
mum before you're not able to any like that idea. Yeah, yeah,
gate crash their holiday. Well if they if that's something
that they would want. I think if I was like
talking to my parents and they're like, you know, obviously,
the nuance of this conversation is different. But if my
parents were like, yeah, we're going to go on this big,
beautiful holiday and I'll be like, oh, we're coming, they'd
be like please, no kids. No kids. Like I'd be like,
(39:10):
isn't it all inclusive? If you take your dad on
a holiday works anyway. That is the commentary from the community,
and I feel like that's a really good place to
leave it. Unfortunately, communication is key, Jessica, That's it. And
it goes back to talking to your parents about this,
I think, and then even talking to your partner. Have
you had those conversations about how they feel and what
(39:33):
that looks like, because you're right, you didn't come this
far buy a house to then go back to having
absolutely no money, But what could it look like totally anyway,
have a very spooky season. I'm hoping that money isn't
as scary for a lot of you by this point
in the year. If it is, we're still here, we're
still vibing, and we'd see a lot of content coming
out over the next few months. Do we get there,
(39:54):
We'll see you next week. Guys. Bye, guys bye.
Speaker 5 (40:03):
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.
Speaker 2 (40:23):
Tailored towards your needs.
Speaker 5 (40:24):
Victoria Divine and She's on the Money are authorized representatives
of money.
Speaker 2 (40:29):
Sheper pty Ltd
Speaker 5 (40:31):
ABN three two one six four nine two seven seven
zero eight AFSL four five one two eight nine
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