Have you ever wondered if you can use home equity to buy something else you need… like a car? The low interest rate makes it sound like the ultimate hack, but would it really be the money win it feels like... or are you just turning a car loan into a decades-long debt trap? We’ve got the receipts. And just when we thought we’d seen it all, a community member slid into our DMs with a first-birthday invite that came with a twist: instead of saying no presents, it asked for something that we'd never heard of before. Is it genius, or the kind of ick that makes you want to run to Kmart for a noisy plastic toy out of spite? We’re divided, the community’s divided, and you’re definitely going to have thoughts. Of course, it wouldn’t be Friday without your fave money wins, broke tips and a sprinkle of our signature unhinged chaos to kick off the weekend.
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.
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.
See omnystudio.com/listener for privacy information.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My name's Sasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya Niana,
Kaka yah Ya bin Ahaka Nian Our gay In Mbini
yakarum Jar dominyamiga Umagahawaka Woman, Damon imlan Bumba ban Gadabomba
in and now in wakah ghan On yak rum Jar
(00:20):
water Nadaa. Hello, beautiful friends, we gather on the lands
of the Aboriginal people. We thank acknowledge and respect the
Abiginal people's land that we're gathering on today. Take pleasure
in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
(00:40):
bringing you the tools, knowledge and resources for.
Speaker 2 (00:44):
You to thrive. She's on the Money. She's on the Money.
(01:08):
Hello and welcome to She's on the Money, the podcast
that makes personal finance fun, especially on Fridays. My friends,
it is our favorite day of the week because we
get to get our little team together and celebrate you.
Speaker 3 (01:19):
How beautiful. She's on the Money Community.
Speaker 2 (01:22):
Miss Jess Grie, She's here and she is going to
be sharing our favorite money wins. Miss Bechsayed has a
number of broke tips to share, and we're going to
be helping to answer a money dilemma. Is it a
good idea to use equity in your home to buy
a car? And something that you slid into our dms
about being asked to contribute to a trust rather than
(01:42):
gifts for a one.
Speaker 3 (01:43):
Year old's birthday party.
Speaker 2 (01:46):
So before we get there, because I am very interested
in both of those topics, my friends, how were your weeks? Waiting?
Speaker 4 (01:53):
Lovely?
Speaker 5 (01:54):
Nothing, she re exciting to report, checking along.
Speaker 4 (01:58):
Yeah, loving that.
Speaker 5 (02:00):
We're starting to see a bit of spring now and
I see the green on the trees and the flowers growing.
Speaker 3 (02:04):
The smell for me ah to rain, the smell of
the cut grass.
Speaker 2 (02:10):
But just like everybody is getting ready, the grass is
starting to grow, and you know it's coming into spring.
Speaker 3 (02:15):
Do you know why? Because my husband's complaining about having
to mow the lawn more. I have to mow the
lawn again this weekend, And I'm like, oh, life must
be so tough for you.
Speaker 5 (02:24):
Rap I've been waiting a whole year to start chaos gardening.
I feel like we spoke about this at SO and
Springs a good time to plant a lot of things,
so you're excited. I want to go to Buddings and
get like a little plant to pot that I can
take with me, Like if I move and stuff and
just plant a bunch of flowers, I can come.
Speaker 6 (02:41):
Yeah.
Speaker 2 (02:42):
Cute working on that at the moment.
Speaker 4 (02:44):
My god, Well, my lovely friend who I live with
also she did our front garden like months ago, and
now we're finally starting to see the fruits of isn't
it cute.
Speaker 3 (02:53):
When we walk home and you're like, oh, there's a
little flowers.
Speaker 4 (02:55):
Oh my god, it's so gorgeous, so cute. That sounds lovely.
And also it's almost Halloween, which is very exciting.
Speaker 2 (03:03):
We got to hear more about Jess's pumpkin. I love that,
but we won't bring that up if you know, you know,
I suppose yes, are you doing anything for Halloween? Like,
are you excited about it?
Speaker 4 (03:14):
I do also love any kind of theme, anything that
you can dress up for celebrates so fun. Like, I'm
sure I will do something. I just don't know what
it is yet.
Speaker 2 (03:22):
I'm like more of a day of kind of planner,
you know, I'm just a vicarious Halloween I don't organize anything.
I don't decorate my house, but I do a cost
Jessica for her Halloween cookies. Yes, I want pictures of
her house decorations. What did you do with your pumpkins
this year? What activities are you doing with your friends?
Because jess like carve pumpkins. That's really cute. But I
(03:43):
just want to know about it and absolutely apply it.
You're doing.
Speaker 3 (03:47):
God's honestly good.
Speaker 2 (03:51):
My husband's complaining about cutting grass and I'm complaining about
not that much.
Speaker 3 (03:55):
So like life is good that for you.
Speaker 2 (03:58):
But before we get into our money wins and confessions,
miss just Gricci and Beck, I mean you get to
listen to them.
Speaker 3 (04:05):
Thank you a five star review?
Speaker 4 (04:07):
Yes?
Speaker 5 (04:07):
Please?
Speaker 6 (04:07):
All right?
Speaker 2 (04:08):
So this one is by Aim Jamo. I think that's
the right way to introduce this person's user name, and
they say five stars. Inspired loving the podcast, particularly Brooks
episode on investing cool. Brook didn't send me this, by
the way, I know she's already seen this. It really
inspired me to get started. I've always thought investing in
the share market was only for finance gurus, and now I.
Speaker 3 (04:31):
Don't feel so overwhelmed.
Speaker 5 (04:33):
That's lovely, And that episode Brook did was so good.
Speaker 2 (04:35):
Ye just the fact that she was so transparent around
like what she owns and how she picked it. I
think that's the stuff, Like, that's the grit, that's the
stuff that we actually learned from because we do so
many episodes on like He's how to invest, Here's what
to do, and you're.
Speaker 3 (04:49):
Kind of like, what are the people doing?
Speaker 2 (04:51):
Not because you want to copy them, because that would
be silly, yea, because past performance is not a reliable
indicator of future performance, Miss Bess said, but because you go, oh, well,
if she can do it, well, I could do it
totally absolutely well, just girls, And it turns out it's
not that hard.
Speaker 5 (05:07):
It's not once you figure it out.
Speaker 2 (05:09):
No, we're amazing. So tell me more about this amazing community.
Miss Jess Green, she what's going on?
Speaker 5 (05:15):
Alrighty, first of this week, I've got a money in
from Aunt who said I saved six hundred and thirty
six dollars by realizing an eight kilogram dryert was big
enough for our needs. They'd only been considering a nine
kilogram because their washing machine is nine kilogram. And they
said the best part is they paid for the dryer
by selling stuff around the house. They no longer needed
and still had some cash leftover.
Speaker 4 (05:34):
Oh that's great.
Speaker 3 (05:35):
I kind of just I never thought of that.
Speaker 5 (05:37):
No, And it makes perfect sense that like a bigger
capacity one would be you know, quite a bit more expensive.
But it's just not something that it ever would cross
my mind.
Speaker 2 (05:45):
I also don't put everything that I wash in the
dry out. Like I don't know about you guys, but
like I don't enjoy doing the washing because I like
put everything in the washing machine. I saw it by colors,
and if my husband tries, he doesn't sor by colors,
whole thing in our household. So I'm like doing all
my whites, but then my white jeans I wouldn't put
through the dryer. I'd like to shake it and hang up.
But then all of my white nickers, you know, straight
in the tumble dryer. Yeah, so like I end up
(06:07):
splitting it.
Speaker 5 (06:08):
So genius.
Speaker 2 (06:10):
I thought I could have saved money.
Speaker 5 (06:13):
Well now and over next time.
Speaker 6 (06:14):
Next.
Speaker 5 (06:15):
I've got a money in from Anna who said she
was in at Melbourne for work last week with her
an all expenses paid trip and.
Speaker 2 (06:20):
She didn't say hi, I know, so rude. Wow, she
thought we.
Speaker 5 (06:23):
Were friends, and she said all I spent was her
fun money, and she was still under the limit because
obviously work paid for her meals and all those sorts
of things. She was down, she paused her gym membership,
so basically she just existed for free for a week.
Speaker 3 (06:36):
That's so cool. Was like putting life on pause. Yeah,
that's really great.
Speaker 1 (06:40):
Great.
Speaker 5 (06:41):
Next, I've got money in from Caara, who said it
pays to ask her internet router died and she ended
up chatting to tech support from the internet provider. A
new router and mesh system was going to cost her
four hundred and eighty dollars. She asked them if she
could use the existing mesh system that she already had,
and the company helped her to set it up, which
meant she didn't need to buy anything new at all.
Speaker 2 (07:02):
The hell is a meshte I have no idea, but
if she's saving money I need.
Speaker 5 (07:06):
I think it extends the Wi Fi. This is something
my boyfriend spoke to me about and I just went
a huh uh, huh, you just I'll just transfer the money. Yeah,
but I think it like extends how far the Wi
Fi reaches.
Speaker 2 (07:19):
I have no idea what that means, but I'm very
excited that you're saving yannny by asking questions. Great that
it was free.
Speaker 5 (07:25):
So I've got a money in from Christa, who said
she was invited to model a dress which was made
of recycled materials for a sustainability conference.
Speaker 2 (07:32):
Oh that's cute, too fine, very special.
Speaker 5 (07:35):
In return, she got to attend the whole day conference
for free, and she got to use her professional development
leave from her workplace.
Speaker 2 (07:41):
Oh good, how exciting.
Speaker 5 (07:43):
Yeah, the conference, it only costs two hundred and ninety
five dollars, and because she used her professional development leave,
she was paid to be there. And she said, on
top of that, it's something she's really passionate about, so
she could spend the day learning.
Speaker 2 (07:53):
That is actually so yeah, I would wear a dress
in front of everybody. I don't even care what it
looks like for you.
Speaker 3 (07:59):
Five dollars.
Speaker 5 (08:00):
And last of this week, I've got money in from Natalie,
who said she recently fell in love with iced lavender
marcher lates.
Speaker 2 (08:06):
Now that's even more agriculture. That's been putting more agriculture
in the agriculture drink.
Speaker 5 (08:12):
And how many fans can we get in there? Absolutely not,
she said, Normally they're eight to ten dollars a cup,
which is crazy. She said it was a special occasion
drink only, but after chaving her barista, they told her
that she could buy a whole bottle of the lavender
syrup from them for eighteen dollars. Combined with twelve dollars
fifty of much powder from coal, she can now make
her favorite drink for seventy six cents, and she said
(08:32):
she gets to feel like a smug bug drinking it
at home whenever she ugs.
Speaker 2 (08:36):
I that for you, Like, I just want people to
be happy, but I just that's one of the things
I can't wrap my head around. Like there are a
lot of things like I maybe need to make a
TikTok of like people I just don't resonate with it.
Would drink Marcher for enjoyment is black number one?
Speaker 4 (08:51):
I think you would suck to realize after you know,
lots of trial and error ordering different coffees as you
grow up, and be like, damn, I actually the one
I like is eleven dollars every single day.
Speaker 3 (09:02):
It would be really because I know that like Jess, right,
you and I coffee fiends.
Speaker 2 (09:08):
Oh yeah, but like Jess thinks coffee is disgusting, So
like maybe she's a much a girly and we're not
like it's it's not because it's actually bad, it's just
because I'm obinionated and probably shouldn't be on topics that
make other people happy. But you live, love, laugh through
all of that. Really, But my favorite coffee is a
mont Blanc what is that? Which is a iced coffee.
(09:30):
It's an iced black coffee and it usually has like
an orange syrup in it, and it has a like
cold foam on top, so like a cream vanilla cold
foam usually, and then it's usually topped with nutmeg. And
like my husband cannot think of anything worse. He's like,
why are you drinking a Terry's Chocolate orange? And like
(09:51):
if you had a Terry's Chocolate orange, oh, that is
an elite experience that she should not be saved for
Christmas Terry's chocol orange for all years, I say, but he.
Speaker 3 (10:03):
Says, that's disgusting. So like, I get it. That's a
really expensive You.
Speaker 5 (10:07):
Get some orange syrup and do it yourself.
Speaker 3 (10:09):
You could, you really could sound the same.
Speaker 5 (10:12):
Well, I mean this is the thing.
Speaker 2 (10:13):
She got it direct from the people, direct from Domingo. Yeah,
is good.
Speaker 4 (10:19):
Let's not let's not sleep afrigado?
Speaker 3 (10:21):
Is that hits different?
Speaker 4 (10:22):
God hits different.
Speaker 2 (10:24):
We don't even need liqueur liquor whatever they call it,
because you know how sometimes people put the ice cream
and then the shot of coffee and then like Frangellico
or maybe some like Kolua or Bailey's or something.
Speaker 3 (10:36):
I don't even need that. I just need the ice cream.
Speaker 4 (10:39):
Yeah, actually, just ice cream is good.
Speaker 2 (10:40):
I think actually Jess would be on board ice cream
or like a strawberry.
Speaker 5 (10:44):
So I refresh eye is what I was gonna say.
If anyone has the in for that, I loved by.
Speaker 3 (10:48):
I don't have that. But when there is a will,
there is a way.
Speaker 2 (10:50):
But did you see that girl complete side note, who
got sued by or threatened to be sued by Starbucks
because on TikTok she was sharing all their recipes. It
kind of makes sense they probably didn't want that distributed,
but there are a lot of people that screenshot it
then put it on Reddit. If hypothetically you're looking for it, Wow,
you wouldn't because we wouldn't take advantage of national corporations
(11:10):
like that.
Speaker 5 (11:11):
Definitely not.
Speaker 3 (11:12):
Oh no, anyway, that was a very good.
Speaker 2 (11:15):
Wrap Jess, and sorry for my random tangent. Tangent, miss
tell me about your broke tips. So my first one
comes from Jess Ricky.
Speaker 3 (11:25):
Sorry, we've just been crowdsourcing from our own.
Speaker 4 (11:29):
Because I was rush today and well I was and
I just didn't prepare. And then Jess Ricky walked in
with a tablecloth for a pant. I don't know if
you can tell.
Speaker 2 (11:37):
But tell their table If you say Jess walked in
with tablecloth for pants, I think people are going to
be like giving a wind clothe, It's like you need help,
it's giving Adam and Eve. But that's not actually what
your pants look like. People started complimenting your pants and
you were like.
Speaker 3 (11:55):
Guess what I made these tablecloth?
Speaker 4 (12:00):
They look so well done.
Speaker 5 (12:01):
I made my first pay I don't wear it a
podcast and nobody can see this, but I made the pain.
I'm wearing my very first pair of clothing or my
very first item of clothing that I've made.
Speaker 3 (12:09):
I think they're so nice.
Speaker 4 (12:10):
And did you have the tablecloth already or you already
had it?
Speaker 2 (12:14):
Yeahstine dollars some came out.
Speaker 5 (12:16):
It was nine dollars, but yeah, tablecloth. I've heard people
say like thrifted bed sheets are really good because you
can get.
Speaker 4 (12:21):
Like linen and have you eaten on those?
Speaker 5 (12:25):
No, I hadn't used it, which because they look so.
Speaker 4 (12:28):
Clean, those spaghetti stains they really like color. Yeah, it's crazy. Well,
there's extremely impressive.
Speaker 2 (12:36):
And so it goes to show that if you seen
a really expensive sewing machine, if you do all of
those things, you too could make pants out of nine
dollars tablecloths. But yes, sorry, can we just side note
tell me about your like little sewing classes because that was.
Speaker 5 (12:52):
Also a money win. It needs a good break tip.
I think we've made this before, but it's through my
local council. You guys know I love.
Speaker 1 (12:57):
A local.
Speaker 5 (13:00):
Council does a bunch of like upskilling courses. So there
was sewing, cake decorating. There's also a lot of like
language and maths ones and things like that. Obviously I
was like, not for me, boring, I want to do
something fun. But those are also very good available options,
and it's so cheap. It was fifty dollars for a
ten week course. And I've now learned to sew my
own pants.
Speaker 4 (13:18):
That is really cool, very exciting.
Speaker 3 (13:20):
Just found somebody who loves their local council.
Speaker 4 (13:22):
Yeah, that's also great.
Speaker 2 (13:24):
Name somebody who's like just so valued. I'm here being like,
why don't they pick the bins up on time? When
I called to ask for house plans, Why couldn't you
find them?
Speaker 4 (13:35):
Yeah, that's true. So I really appreciate your take because
I feel like people only like counsel when their bins
aren't collected. They're beIN's broken and I never think to change.
So I think it's great.
Speaker 3 (13:46):
Absolutely well.
Speaker 5 (13:46):
They're only funded to do like lots of things for
the community, and I feel like nobody ever does look
for them. That's true to get true.
Speaker 4 (13:53):
So you couldn't have sold your pant before the course.
Speaker 5 (13:56):
I didn't know how I had the sewing machine, but
like I learned, and I made a lot of mistakes
making them, so I was very glad there was someone there.
Speaker 2 (14:02):
Did you have an I feel like that's they It's
said to be mistake.
Speaker 5 (14:06):
And the fabric is not perfect for because I was
the tablecloth. It's not perfect for clothing, but I just
had it and I liked it, and so I messed
something up. I had it unpack the whole leg and
another girl in my class, bless her was like, you're
going to be here all night. So she took the
other end of the pants and we're like, do you
love lady in the traps?
Speaker 2 (14:28):
I would have been there all night.
Speaker 5 (14:29):
Thank goodness for her.
Speaker 4 (14:30):
Oh God, I love that. It is so wholesome, whole
love that so much.
Speaker 3 (14:34):
What else have you got back?
Speaker 4 (14:36):
So thank you, Jess. The sext one comes from Amma,
who says I called up my bank and asked them
to put me onto the promo interest rate for the
savings account. Now that it's finally growing. A few minutes
on the phone and it's done for the next three months.
Speaker 3 (14:48):
What three months?
Speaker 4 (14:49):
Yeah, So I say, keep on top of a few things,
local council website and also bank interest promo rates. You know,
sometimes your your bab and like.
Speaker 2 (15:00):
You don't get that's what Jess was telling us before.
Speaker 4 (15:03):
Yes, And sometimes you'll see your own bank like for
new people you get this promo whatever, and you're like,
I've been here sitting waiting being patient to the new people,
which cracks doesn't pay.
Speaker 3 (15:17):
We aren't loyal, does it?
Speaker 6 (15:19):
No?
Speaker 4 (15:19):
And so I think in these kind of situations as well,
you probably could call up and be like, hey, did
you forget about me, and then.
Speaker 2 (15:24):
Did Mike Taylor up?
Speaker 3 (15:25):
What's the worst thing that could happen? She just doesn't
answer exactly, And then.
Speaker 4 (15:30):
My broke tip. I've recently gotten into ringmaking, and.
Speaker 2 (15:34):
I've seen on TikTok. Sorry, not even on TikTok. I
don't even know if you're on TikTok sometimes but mainly
sometimes mainly Instagram. Yeah, I've seen your videos on Instagram. Guys,
if you're not following back and you want some more
rogue content in your life, you never guess what comes
next on her Instagram stories. Thank you? Is that sweet?
Like I think it's great because like sometimes I'm like, oh,
(15:55):
look she's hanging out with her girlfriend.
Speaker 3 (15:56):
That's so cute. Oh look she's making pottery. What I
didn't even know you made jewelry.
Speaker 2 (16:00):
Where is this coming?
Speaker 6 (16:01):
I know?
Speaker 4 (16:02):
This was just like I don't know where a camera
ei love.
Speaker 2 (16:04):
Oh she's making a video with no pants on for
a company in Brunswick. Oh okay, no worries.
Speaker 3 (16:09):
Like that is wild.
Speaker 4 (16:12):
They're so sweet.
Speaker 7 (16:13):
Thank you.
Speaker 3 (16:13):
I follow you tenaciously.
Speaker 4 (16:17):
And you are like you boost me like no one
else like I know that you will be You'll be
in the comments you'll be in the likes.
Speaker 3 (16:23):
I'm always at DMS need that I'm in your comments.
I'd like, I love it. I am obsessed.
Speaker 4 (16:28):
I love it, thank you so much. But with silver rings,
so I kind of was googling it for ages and
I realized, like on Etsy and stuff, you can get
whole kits for like one hundred and fifty bucks, which
is like, so.
Speaker 2 (16:40):
That's cheaper than most of my hobbies.
Speaker 4 (16:42):
Yeah, it's like fine. But instead I went and there's
actually this jeweler or jewelry store in Melbourne. I'm sure
there are equivalents elsewhere. It's called Kudak k o o
d ak, and you can get gemstones for literally like
from twenty six cents.
Speaker 3 (16:57):
To like ten dollars. Yeah, and you'm natural.
Speaker 4 (17:01):
I love sparkling.
Speaker 3 (17:02):
Oh my god, I'm a bird.
Speaker 4 (17:04):
I just love this. And then you can get silver clay,
and so you can get a five gram little bag
that is like thirty dollars. You can get them either
on eBay or at this actual place, which is it
looks like it's tiny, but it will make one ring.
So let's say, for example, you are making a ring
for someone for their birthday, and you get three gemstones
with twenty six cents and they are natural gemstones, maybe
(17:26):
they lab grown sometimes I don't understan why they're so cheap.
I don't really get it, but all crap in it
and I'm happy, absolutely, Like I made an opal and
the ruby one because that's mine name, make your friend's birthstones,
and literally like they were big. They were two dollars each,
two dollars twenty six each.
Speaker 2 (17:43):
I can't believe it.
Speaker 4 (17:43):
But anyway, so silver clay and then you literally just
fire it in your own house.
Speaker 1 (17:48):
I do stove.
Speaker 4 (17:50):
It's and it's super quick, it's super easy. It's so cheap.
And then when you if you give someone a hand
made read, I would cry, what gorgeous? And it's real
silver too, I have to know.
Speaker 3 (17:58):
Crazy so with silver clay.
Speaker 2 (18:00):
And this is maybe me thinking outside of the box
because like my mum is obsessed with that like fingerprint jewelry,
so like for one of her birthdays, we brought her
one of those beautiful I think it's from Lynden Cook
stunning necklaces.
Speaker 3 (18:14):
She's got this like chunky silver necklace.
Speaker 2 (18:15):
She's got my sister's fingerprint, my fingerprint, my dad's print,
Like that's what she wanted. She thought it was very
very cute and I also love it, but like that
was not cheap. Could you put a fingerprint into the
silver clay?
Speaker 3 (18:28):
Absolutely?
Speaker 2 (18:29):
That is to make your own, like I don't know,
little charms for necklaces or like rings with them.
Speaker 5 (18:34):
Yeah, the pets too, with the pets nose print, that's.
Speaker 2 (18:38):
So cute to see. Where are you You just get
a little book and then yeah, yeah that's someone's business idea,
but it rings that is the dog does a boot.
Speaker 4 (18:49):
You could make like little dog tags with silver dog tags,
like lip collar, so cute. So you could do anything
with the silver clay. And it's you're meant to like
torch fire it, but I broke mine own how and
so I just literally do what over the stove. You
just get some tweezers, be careful.
Speaker 5 (19:03):
And it turned it into actual metal.
Speaker 4 (19:04):
It turns to actual silver. It is crazy because it
still looks white. You gotta like rub all the whiteness
off when it's done. But there's a point where you
touch anything with the clay, it sounds like clay, and
then you do that again later on and it starts
clinking and you're like it's turned to silver.
Speaker 5 (19:21):
I love, like, so this is a team activity.
Speaker 3 (19:24):
Yeah, it is activity.
Speaker 5 (19:27):
So I that is my both the Gemstone place again
sorry kudak k o d a k. And it's like
going back in time, like you go in there and
it's very like paper bags and I don't know that
makes sense.
Speaker 4 (19:37):
I'm really not killing you.
Speaker 3 (19:38):
No, I'm obsessed. I'm obsessed.
Speaker 1 (19:40):
I love.
Speaker 2 (19:41):
Let's go to a really quick break, guys, because on
the flip side, we're going to be answering money dilemma.
Is it a good idea to use the equity in
your home to then buy a new car? And something
is slid into our dms about being asked to contribute
to a trust rather than gifts for a one year
old's birth date, which I think is going to get
a little bit divisive.
Speaker 3 (19:58):
So guys, don't go any anywhere.
Speaker 5 (20:04):
Welcome back, everybody. Let's take a listen to this six
money dilemma.
Speaker 6 (20:10):
Hi, there, have you got a money dilemma you just
can't solve?
Speaker 2 (20:13):
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. Now, let's take a listen to
this week's money dilemma.
Speaker 7 (20:33):
Hi Shees on the money, I've got a question about
buying a new car. I'm purchasing a new car and
I've been looking at interest rates for car loans and
they're quite high. I currently have equity in my homelan
and I'm wondering if I should use that to purchase
a new car. My home loan is three hundred and
fifty thousand and the value of my property is one
point one million. Am I better off buying the car
(20:55):
using the equity in my house and therefore having a
lower interest against that loan, or should I just keep
the car and the house separate. If I take your
equity out of the house to purchase the car, I
do plan to make extra payments to pay that down,
but it would obviously be at a lower interest rate
than if I got a car with a car loan.
(21:16):
What are your thoughts? Thank you?
Speaker 3 (21:18):
What in the wealth right?
Speaker 2 (21:20):
Sorry? You're only only three hundred grand on a million
dollar property? Money? Wein well done? I want to know
before I could just dive in, but like, what do
you reckon Jess using your equity?
Speaker 5 (21:33):
Yeah, it's just a bit out of a thworsh of our.
I think the argument does make sense that if it's
at a lower interest rate, then it would be on
a car loan. I guess a loan is a loan,
and you're rolling it into your home loan. I guess
the only thing would be I don't know how it
works when you use equity to make a purchase. It's
(21:53):
not a house. Obviously, the payment terms on your home
loan more often than not around thirty years, so I
don't know if they would automatically don't even need to
be here where my brain was going, so like, if
you're going to stretch the payment out over thirty years,
then obviously that's like a lot. But then she did
say that she was planning on making extra payments. I
don't really know how it works, Like I'm assuming it
(22:16):
just rolled into.
Speaker 2 (22:16):
Your existing loan.
Speaker 5 (22:17):
It's not like you've got two separate things that.
Speaker 2 (22:19):
You don't you don't roll into existing ones. But how
are you feelings? Like if I had access to eight
hundred grand equity, I'd be spending it.
Speaker 4 (22:26):
Yeah, but equities always confused me because what I was
told was that equity you can use that as a
deposit for a new house. But I didn't know you
could just like.
Speaker 2 (22:36):
Spend, Well, you can release equity as cash. So what
happens is like I, as you guys know mortgage broking business.
We might have a client come to us and let's
use her exact example, Hey, I owe three hundred grand
on the property I have, you know, one point one
million dollar property, Like that's what it's worth. So we
would calculate that she has about eight hundred thousand dollars
worth of equity. Now she could access some of that
(23:00):
equity and buy a new property, So you could use
some of that as a house deposit.
Speaker 3 (23:05):
Most banks just.
Speaker 2 (23:06):
Require a reason why they're releasing some of that because
they've got basically your big asset. So the bank has
what's called a caveat over that one point one million
dollar properties. So if everything went south and they're like, well,
Beck didn't pay her loans back, we're going to sell
her house and get our cash back, they're not that worried, right,
but they do want justification as to why you're getting
(23:28):
that money out and lots of people will you know,
take equity out to you know, I would say, most
commonly buy another property, so use that cash to not
have to save another deposit to get into their next home.
Or they might use that equity to buy a caravan
or go on a holiday, or they might buy a car.
Whether that's the best financial decision is up for debate,
(23:50):
because you could look at it as Okay, well they've
got all of this equity, and like, let's pretend your
home loan is still sitting at like five percent, right,
that is much much lower as an interest rate if
you have to borrow money, like if you don't have
the cash to pay for the car outright, five percent
is a lot lower than asset finance rates, which could
(24:12):
be honestly anywhere between eight and fifteen percent usually, So
if you just look at the interest rate, you might go, well,
that's better.
Speaker 3 (24:21):
And that's what most of our clients do.
Speaker 2 (24:22):
And I'm not saying it's a bad thing, because if
we are purely looking at it from a.
Speaker 3 (24:27):
Debt perspective, that's fine.
Speaker 2 (24:29):
But she is definitely on the right track because when
we do this for clients, we do make the recommendation
that you make additional payments because that equity is going
to be paid off over thirty years.
Speaker 3 (24:39):
And like, if your home loan is.
Speaker 2 (24:41):
Like twenty to thirty years left and you're borrowing fifty grand,
you're potentially paying that off for decades, which means, even
though it's a lower interest rate right now, it might
mean paying like eighty to one hundred thousand dollars in
interest over the life of the loan, which then you go, well,
that's dumb. Even though it feels like it's a money win,
it's not. So what I would do is calculate, well,
(25:02):
what monthly repayment could I afford for this car? Yes,
I'm going to build it into the equity of my home. Yes,
you're right, Jess in terms of it's not a separate loan,
it's just like additional But I'd be trying to pay
off that additional in like three to five years instead
of over thirty just to make sure that you're not
getting stung with the long term interest repayments, which over
a long time do actually add up what amount of
(25:25):
money fifty grand inequity on that property is genuinely going
to probably cost over like a thirty year period.
Speaker 3 (25:31):
Another eighty tw one hundred.
Speaker 2 (25:32):
Thousand dollars, which is obviously worse than the high interest
home loan over five years. Yeah, so you need to
make sure that you're making the right decision, not just
going well it's less interest, that's a better deal.
Speaker 5 (25:44):
Right.
Speaker 2 (25:45):
So I think that you would take, I would say,
a more balanced approach of well, I want a new car. Yes, great,
that's the decision we've made. How are we now going
to finance that? Can you afford additional repayments? And this
person has said yes they can, But if you can't,
I don't want you going to just take out more
equity and then being like, well it does a matter,
(26:06):
I'll pay it off over thirty years. Like that's going
to shoot you financially in the foot. So I think
I'm a bit conservative when it comes to that. But
like the reason I'm conservative is because I just don't
want you in more debt than you need to be in.
Speaker 4 (26:16):
No. Absolutely, yeah, Well with equity is that I thought
it was like the amount that is a Let's say
you buy a house for five hundred thousand dollars and
then it's worth a million dollars later, you have five
hundred thousand dollars in equity. But equity in fact is
what I'm learning here is how much you've paid off.
Speaker 2 (26:31):
No, not necessarily. So say I spend five hundred thousand
dollars on house, Yeah, and then I have my little
twenty percent deposit, which is a lot. I've got one
hundred thousand dollars in deposit right now, I have no
equity because when I look at the property value, it's
worth five hundred thousand dollars. The equity technically would be
that twenty percent deposit, but you can't use it because.
Speaker 3 (26:52):
You've already paid for it.
Speaker 2 (26:53):
Yes, Then a year later, I get my house revalued
and it's worth six hundred thousand dollars. I've now got
another hundred two thousand dollars because I've had my twenty percent,
and there's now thirty percent or more equity in that.
And I can actually use that cash or that value,
not necessarily what you've paid off, but that value in
that property to leverage you into other assets. So it's
(27:15):
not necessarily what you've had to pay off, but it
can be. So like if you paid off a heap
of your mortgage and you only owed a in this
listener's situation three hundred grand and on a million dollar
probably she's got a lot of equity. Maybe, and we
don't know her financial situation. What if she bought that
house for three hundred grand and then she just like
bought an absolute gem and it's scored up to a
(27:36):
million dollars. Or she could be the biggest best hustler
saver we've ever seen. She paid eight hundred grand off,
do you know what I mean? So, like it could
mean both things. But equity is accessible cash or capital
that exists in a secure asset that you can then
use for other funding purposes.
Speaker 4 (27:54):
Like how it's.
Speaker 5 (27:55):
Shares, you know, how you say, oh, my sharre's worth
a dollar, but it's only worth that if you sell it,
if you actualize the cost, your house is worth that
if you were to sell it, and.
Speaker 2 (28:05):
The bank looks at that and says, well, the house
is worth a million dollars if we were to sell it.
So it's pretty comfortable if we gave Beck another fifty grand,
because ultimately, if she stopped paying her mortgage, we'd sell
her house out from underneath her and we'd get our
cash back.
Speaker 3 (28:20):
So we kind of just don't mind as much, which
is why the interest rate is lower.
Speaker 2 (28:24):
Because that's what's called a secured asset, because there's something
that the bank has this caveat over that they can
sell to get their money back, whereas unsecured debt, which
is where they go, oh, bet, shelves your income, shells
your assets. You seem like a nice person will give
you a loan. Well what happens if you got that
car stolen and it wasn't insured. Yeah, they can't sell
(28:45):
the car, so it's unsecured.
Speaker 3 (28:47):
I see.
Speaker 2 (28:48):
So there's unsecured and secured debts, and unsecured debt is
always going to be more expensive, which is why a
lot of people look at their equity in a pretty
favorable way.
Speaker 4 (28:57):
I see, I see. Well, thank you for that very
informative and educational response.
Speaker 2 (29:03):
Well, I don't know if this is going to get
better or worse. If I ask you, guys, do you
want to hear our listener dilemma from this week? But
I think it's going to be a little bit douicy
because I can't wait to see. And this is one
of those ones where I'm like, I don't know.
Speaker 3 (29:16):
What you're going to say. So we got a DM
this week. Are you ready?
Speaker 2 (29:20):
Hi, She's on the money. We were recently invited to
a first birthday party. In lieu of gifts, the parents
have asked guests to contribute to the Birthday Babies Trust account.
This is the first time I've come across this as
an idea. Is this a new norm now? I'm not
sure how I feel about it. On one hand, the
financial landscape is going to be hard enough for our children,
(29:40):
so whatever we can do to help. But on the
other hand, would love to know what you guys think.
Speaker 4 (29:47):
M I feel like they're like, contribute to the party
that we're throwing, or contribute to There's something about specifically
contribute to my child's future.
Speaker 2 (29:59):
I think like as long as.
Speaker 4 (30:01):
Everyone is comfortable with some people putting in literally like
three dollars, Like right now, if someone asked me to
contribute to something, I'd be like, I literally have two
dollars to give you, and and that has to be
treated with the exact same level of respect and gratefulness
as one hundred thousand dollars. It's about like what you
(30:21):
can do, what you can afford to bring to the table.
If it's like a present, you can kind of get
away with hiding. If you don't have the money, you
can just repurpose something in your house. You can, like
there are ways to do it without actually spending any
money at all. Yeah, but if someone's like, can you
contribute financially, then that's like, well, that's really exposes people
that literally cannot do that.
Speaker 3 (30:41):
So I don't I totally agree.
Speaker 2 (30:43):
Yeah, Like I don't like that hypothetical though, please because
I would love to know rather than like, is this
and like, I get it, everyone's in a different financial situation,
and I think as a podcast we always address that.
But like, hypothetically you've got twenty bucks, and like I don't,
I don't know for a first birthday party, like I
would say presence of twenty to fifty bucks, Like depending
(31:04):
on what you're doing. If you're spending more than that,
pop off queen, but like I would say twenty to
fifty bucks. Let's pretend you've got twenty dollars. If somebody
if you were invited to, like, let's pretend it's my
son Harvey. I said, Beck, come to Harvey's birthday party.
And then on the invite, I said, could you contribute
to his trust account instead of you know, bringing a
gift and you've got twenty bucks to spend. Are you
(31:26):
happy spending that and just putting it into his trust
account or would you prefer to bring a present or like,
you know, were you never going to bring a present?
Speaker 3 (31:33):
Like what does that look like?
Speaker 4 (31:35):
I guess in that situation with the twenty dollars, I
would be like, I'm going to stretch this and I'm
going to find some I'm going to make like a
little hamper of cute toys and it will be very impactful.
But if you wanted that instead me to put that
into his trust fund, I would the only thing. And
this is probably me projecting, and I'm sure everyone.
Speaker 3 (31:53):
No, that's what I want.
Speaker 2 (31:54):
That's why I'm asking you if you had twenty bucks.
Speaker 4 (31:57):
Well, this is this is where. This is where I
want the projection.
Speaker 3 (31:59):
I want the thoughts.
Speaker 4 (32:00):
This is the thing that gets tricken. I feel like
everyone who's maybe broken up poor or who sorry, or
anyone who's grown up or or is has been poor
later in life or whatever that is there's a feeling
of insecurity that should not be there, that is socialized,
that is like a taught to us, but which should
not be there. But it's unfortunately still there. So if
you said, if we all showed up with a present,
(32:21):
everyone would feel equal. Now it's trust fun Now you
can see that I've only given twenty dollars. Now I
feel like really embarrassed visible and it's very visible, and
it's very like you can't really hide that. And unfortunately,
like same with like at weddings when you have to
give money the cash, and it's like, well, now I'm
spending way more than I actually was going to. But
if I don't, then I'm exposing myself as But it's
(32:43):
it's if you take away all the emotion and the
shame that you might feel, and the projecting this insecurity,
like maybe you won't feel any of those things. Maybe
you're surrounded by people who can afford the exact same
as you. If you take all that away, it's still
like funny to like, I don't know, maybe ask for
money is like it's more useful than a gift sometimes,
so I'm all for it, but I think there's just
(33:04):
like it's so layered and it's so risky and you
don't want to make someone feel like shit, So absolutely not,
That's kind of where I'm at.
Speaker 3 (33:11):
I agree.
Speaker 5 (33:12):
I think The big negative is the visibility of what
you're giving, because it's like you can give someone a
gift that is worth fifty dollars, but maybe I got
it on sale and I only paid ten dollars for it.
Speaker 3 (33:23):
It's nobody's business.
Speaker 5 (33:24):
It's absolutely it's nobody's business. And like the cost of
the gift is not quantifiable against the love with which
it is given. But I do agree that it is
like in that situation, it's like a very clear cut,
Oh well, Jess gave five dollars and someone else gave
fifty dollars and it's you know, I can I completely agree.
I think that is the big negative of it. The
positives on it, from my perspective, there's a couple. One
(33:46):
is someone who doesn't have kids got it's so much
easier to just give them money than to try and
figure out what to get them, you know, like agree
gift giver.
Speaker 3 (33:53):
I try to be Jess. For Harvey's was it Christmas
or no, it's his first birthday.
Speaker 2 (33:58):
You got him that train, so it was like a
Fisher Price train and it's his favorite, like he's obsessed
with it, like Twain.
Speaker 3 (34:05):
Twain, Twain sang place at the time, all the time.
Speaker 2 (34:09):
And also just to shout out to Jessica for getting
a toy that has buttons with lots of noise.
Speaker 4 (34:14):
So good.
Speaker 2 (34:15):
But I do get one that you can switch the
noise off, love you, but he knows how to turn
it on.
Speaker 5 (34:20):
But yeah, so I think that, like it is hard,
especially as kids get older as someone who doesn't have kids,
and like, yes, you obviously can ask the parents. That's
usually what I'll do. Or you know, I knew that
my nephew really liked that presence, so I was like,
Harvey will probably like something similar. But it is like
so much easier to just go all right, here's the cash.
It is nice to know that it will contribute to
their future. We know, like we the three of us
(34:41):
and the listeners to know so much the power of
compounding interest, So twenty bucks now in fifteen years is
quite a bit more so, like that's nice to know.
And I do also think it can beat a lot
of the wastefulness. So I know of my friends they
go god like obviously very grateful for the things that
we get.
Speaker 3 (34:59):
You know, gives a gratitude.
Speaker 5 (35:01):
What is a kid going to do with fifteen trains
or like fifteen new toys, Like they don't need it,
They grow out of things quickly. There is an element
of wastefulness there too, which again the money kind of negates.
I personally would be fine with it, yeah, on the assumption.
And I mean I can obviously speak for my friends.
I know whatever amount I was to give someone they
(35:22):
would be thankful for it would be a non issue.
But I also totally get the stress of like it's
as you were saying, similar to weddings, like, oh, like,
is what I'm giving appropriate in line with everybody else,
Like I don't want to send the wrong message by
giving the wrong amount of money. Like that is more
complex then, I think, like if it's a conversation that's
been had or you know, when I think about like
(35:44):
your baby shower, eat, you said, oh, everyone bring a
book if you want to give a gift, Like obviously
gifts are not necessary, but if you really want to
bring something with love a book. So I think if
it was communicated in that way, like gifts are totally
not necessary. Your presence is the present type of vibe.
But if you did want to contribute thing, we'd love
to for you to contribute to their future by putting.
Speaker 2 (36:03):
Some money for us, like just to give a bit
more context to that for us, So it was not
so much about like getting gifts, but getting things that
to me were very special to share with Harvey. So
like the additional context there is, like we asked for
your favorite childhood book and you could have gone to
kmart and gotten a ten dollar book like that's or Gabby,
(36:25):
actually who I speak about, I don't know a lot,
but she used to be my EA and then went
to work at the AFL, which I'm very proud of
her for, but she's also a very good friend of mine. Now,
she actually gifted me the legitimate book that she had
growing up that had like a few coloring in things
from when she was three and drew in it. It's
called Koala Lu just so you know, and she wrote
(36:47):
the most beautiful message in the front four Harvey being like,
this was my favorite book growing up and I can't
wait for you to read it. So that didn't cost
her a dollar, but I would say it's one of
my most prized possessions for Harvey because, like you know,
everybody wrote we asked for books in lieu of cards
and gifts, and like if you're going to write a card,
please write it in the front of the book. And
now whenever I'm reading to Harvey, he gets this book
(37:09):
and I go, this one's from Jess, or like this
one's from Beck And that was really to me, really sweet,
but that was what we were looking for. Not everyone
is in the financial position as well for a baby
shower to be asking only for books. You might actually
need the car seat paid for, and I totally get that.
But for me, it's like I don't feel comfortable asking
for gifts. But that's again a personal situation and like
(37:32):
each to their own, right.
Speaker 5 (37:34):
Like, I guess that's the one other thing is you
miss out on the sentimentality, Like there is something really
joyful about knowing you've given something to a child and
they love it. It becomes their favorite toy or their
favorite book. Yeah, it's I guess also a very selfish thing, right,
like going, oh, I love knowing that I gave that
to you and you love that.
Speaker 2 (37:50):
But I love that, And I don't know. I think
there's something about when you talk about kids, it's also
about connection and like building that connection. Like, don't get
me wrong, like Jess, I'm not trying to downplate it
at all. You gave my son a plastic train. He's
so obsessed with it and he loves it, and whenever
he's playing with it, I'd like send us a picture
and be like, oh my god, he's still on about
(38:10):
the bloody train. And it's just like you want to
feel part of their lives. And I get that you're
in the background building their lives because you've contributed to
their trust. But I also think that that can be complex.
So I think it would be for me around the
articulation of that request as like a fai if you
(38:31):
know you were planning on getting a gift and like
also didn't want to have to go shopping. Here's our
trust that we're building up and maybe giving a bit
more context, like to build Harvey's wealth in the future,
or to hopefully one day get him into his first
home or something, or for his education or whatever it is.
I feel like if it was presented as an option
rather than a do not bring gifts, contribute to the
(38:51):
trust kind of thing, I think that changes it because
you're right, like you might want to show up with
a gift, and I think that that's.
Speaker 4 (38:57):
You might have a gift come in nature away.
Speaker 2 (38:59):
Yeah, because I've talked about it before and maybe I
could do a whole episode on how you know. And again,
I would like to acknowledge my privilege, which I feel
like I am consistently doing, but also don't want anyone
to feel less than because this is what I'm doing,
but I don't expect other people to do it. But
when Harvey was born, we established an investment bond on
his behalf and I don't even care. I'll just tell
(39:22):
you we put ten thousand dollars in there because I
was like, okay, cool, ten thousand dollars. And then in
my head we will probably contribute around five hundred dollars
at a minimum each year. So in my head, I'm like, cool,
we'll probably be able to do that, Like two hundred
fifty dollars at his birthday, two hundred and fifty dollars
at Christmas kind of is.
Speaker 3 (39:39):
Where our heads are at. Is that an expectation for
everybody else? Absolutely not.
Speaker 2 (39:43):
This is just me in the financial situation I am
in going. I want it to be reasonable, but I
also want to make sure that I'm building a secure
financial future for Harvey, and like we will do this
for every other child that we hopefully have in the future.
And I know that based on my ex financial advisor
predictions and you know projections, I should say, with a
(40:05):
ten thousand dollar initial deposit and then just like five
hundred dollars a year, by the time he's fifty, he'll
be worth one point four mil. That's a good deal.
Speaker 3 (40:14):
Yeah, And that's got nothing to do with inheritance. It's
got nothing to do with any of that. So that's
the power of it.
Speaker 2 (40:20):
Why, Like, that's why your parents or their parents probably
want you to contribute, because they're like, you know, we've
done the numbers, and like, we're gonna put this kid
in the best possible financial position. But you're also asking
for something that I think not everybody has it the moment,
and that's disposable income.
Speaker 3 (40:34):
And I just I don't know.
Speaker 2 (40:36):
I don't like asking people for money, which is why
I'm so like passionate about like teaching you how to
create your own financial security and your own financial futures.
And you know that probably comes from my money story
of you know, not always having a lot, and being
like I need to set Harvey up because what if
he's in that position and like, I don't know, yeah,
money still makes me anxious.
Speaker 5 (40:57):
As well, totally what did everybody else say?
Speaker 2 (40:59):
Oh?
Speaker 3 (40:59):
Color color?
Speaker 2 (41:00):
Al So, As always, we ask a few questions before
we get into the two cents. First question I asked
was how would you feel if you read this on
a first birthday invitation?
Speaker 3 (41:10):
Thirty eight percent of you said I love it.
Speaker 2 (41:12):
Yeah, because it's a.
Speaker 3 (41:13):
Chese on the money community.
Speaker 2 (41:14):
I reckon, Yeah, I don't know if the general consensus
across Australia would be the same. Thirty six percent said
it gives me the ick. Okay, also fair, and twenty
six percent of you said I'm actually quite torn.
Speaker 3 (41:26):
We then asked, would you end up contributing to the trust?
Speaker 2 (41:29):
Forty six percent of you said yep, don't see a
problem with it, Thirty two percent said yeah, but just
to avoid the drama, eleven percent said no, I'd still
be buying a gift, and eleven percent again same, said
I would be turned off doing either of those things.
You know what I feel like, each to their own.
It's all part of our money story and what we
can and can't afford. I don't know, because like we've
(41:51):
just sat here. If I was asked by one of
you who had a kid, I'd be like, pop off, queen,
I love this, like because that's just part of my nature.
But then you're such a gift giver and like a
gift maker that I think you'd be disappointed that you
didn't get that opportunity.
Speaker 4 (42:05):
Yeah, definitely.
Speaker 2 (42:06):
So everybody's different, and that's why I think it shouldn't
be presented as a we aren't accepting gifts. We only
accept this just as a hey, FYI, because I don't
know there might be people out there that are like, oh, oh,
chuck twenty bucks in your trust account, and I'm also
going to get you a train, like do you know
what I mean? Like, have you met grandparents? They're so
(42:26):
extra like they might be all over that. But then
your friends are kind of like, oh, I'm not so interested.
Let's just present it as a nice option as opposed
to an expectation. Absolutely, we also obviously then said, guys,
what's your two cents? I gave my kids shares last Christmas.
And I think it's a great idea. Yes, because it
was you. Yeah, Like, we're not asking other people, hey,
(42:49):
can you please buy my kid? Vanguard High Growth? Like
the next person said it's like contributing to a honeymoon fund,
and for me, that's a no thank you. Another person
said it's awkward to ask people, but I do sell
unwanted gifts, and then I put that money into an account.
Speaker 3 (43:04):
For my girls.
Speaker 5 (43:05):
Yeah.
Speaker 2 (43:06):
I did get for Harvey's first birthday, I got three
sets of the same book series.
Speaker 4 (43:12):
Right, that's the same.
Speaker 3 (43:14):
And I don't know if I should be admitting this here.
Speaker 2 (43:17):
Actually, you know what, whatever, I regifted one of them
and I put another one on Facebook marketplace. Yeah, he
got the cash, don't worry. And technically that gift was
given by Harvey to another baby. Yeah, but great book set.
I shouldn't have mentioned that I liked it because three
people will listen. Another person said I'd probably be annoyed
that I hadn't thought of the idea.
Speaker 3 (43:38):
For myself and for my kids.
Speaker 4 (43:39):
I love that day.
Speaker 2 (43:41):
Another person said, can we make this the norm? I'm
turning thirty seven soon.
Speaker 4 (43:46):
I'll take shares for my birthday.
Speaker 2 (43:47):
Yes, I should start just gifting people shares. Another person said, well,
how much a gift might spend up to thirty dollars,
But I would feel like I'm not enough putting thirty
dollars into a trust. I feel like that's too much pressure. Yeah,
which I think is really aligned to what you're saying back.
Speaker 4 (44:03):
Definitely.
Speaker 2 (44:04):
Another person said, first birthdays are already really weird. Kid
won't even remember. Feels like a weird money grab. Again,
everybody has an opinion. It's money. Turns out, that's why
it's taboo or used to be taboo to talk about.
And I'm just going to share one more. My baby
turned one this week, and you just get so much stuff.
I kind of wish this was an option. Yeah, I
(44:25):
think you're going to get differing opinions from everybody, right totally.
Speaker 5 (44:29):
But like it's all in the communication, and it's all
in like what feels good to you.
Speaker 4 (44:32):
I'm not gonna lie.
Speaker 2 (44:33):
There is nothing more heartwarming, and Jess, you've got to
experience this firsthand than a tiny one year old ripping
into a present and not even sure what they're doing. Yeah,
it's so cue joy on their face as they realize it's.
Speaker 6 (44:47):
Not just the paper.
Speaker 4 (44:51):
That's so cute, it's oh my god.
Speaker 2 (44:53):
It's like, so don't get me wrong, Like, I can
see the joy, I can see how it might make
people anxious as well. But I think it's more about
framing these things as an option rather than an expectation.
Speaker 4 (45:03):
Absolutely.
Speaker 3 (45:04):
Oh my god, it's like you should communicate clearly.
Speaker 2 (45:08):
That's so weird. All right, great place to leave it, guys.
Thank you so much for joining us, and we hope
you have the best ever weekend and we'll see you
right early on Monday for a money dary.
Speaker 3 (45:18):
Bye guys.
Speaker 5 (45:18):
Bye.
Speaker 6 (45:25):
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 3 (45:44):
Tailored towards your needs.
Speaker 6 (45:46):
Victoria Divine and She's on the Money are authorized representatives
of money sheirper pty LTD ABN three two one IS
six four nine two seven seven zero eight AFSL four
five one two eight nine.
Speaker 4 (46:04):
To deplete the
My name's Sasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya Niana,
Kaka yah Ya bin Ahaka Nian Our gay In Mbini
yakarum Jar dominyamiga Umagahawaka Woman, Damon imlan Bumba ban Gadabomba
in and now in wakah ghan On yak rum Jar
(00:20):
water Nadaa. Hello, beautiful friends, we gather on the lands
of the Aboriginal people. We thank acknowledge and respect the
Abiginal people's land that we're gathering on today. Take pleasure
in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
(00:40):
bringing you the tools, knowledge and resources for.
Speaker 2 (00:44):
You to thrive. She's on the Money. She's on the Money.
(01:08):
Hello and welcome to She's on the Money, the podcast
that makes personal finance fun, especially on Fridays. My friends,
it is our favorite day of the week because we
get to get our little team together and celebrate you.
Speaker 3 (01:19):
How beautiful. She's on the Money Community.
Speaker 2 (01:22):
Miss Jess Grie, She's here and she is going to
be sharing our favorite money wins. Miss Bechsayed has a
number of broke tips to share, and we're going to
be helping to answer a money dilemma. Is it a
good idea to use equity in your home to buy
a car? And something that you slid into our dms
about being asked to contribute to a trust rather than
(01:42):
gifts for a one.
Speaker 3 (01:43):
Year old's birthday party.
Speaker 2 (01:46):
So before we get there, because I am very interested
in both of those topics, my friends, how were your weeks? Waiting?
Speaker 4 (01:53):
Lovely?
Speaker 5 (01:54):
Nothing, she re exciting to report, checking along.
Speaker 4 (01:58):
Yeah, loving that.
Speaker 5 (02:00):
We're starting to see a bit of spring now and
I see the green on the trees and the flowers growing.
Speaker 3 (02:04):
The smell for me ah to rain, the smell of
the cut grass.
Speaker 2 (02:10):
But just like everybody is getting ready, the grass is
starting to grow, and you know it's coming into spring.
Speaker 3 (02:15):
Do you know why? Because my husband's complaining about having
to mow the lawn more. I have to mow the
lawn again this weekend, And I'm like, oh, life must
be so tough for you.
Speaker 5 (02:24):
Rap I've been waiting a whole year to start chaos gardening.
I feel like we spoke about this at SO and
Springs a good time to plant a lot of things,
so you're excited. I want to go to Buddings and
get like a little plant to pot that I can
take with me, Like if I move and stuff and
just plant a bunch of flowers, I can come.
Speaker 6 (02:41):
Yeah.
Speaker 2 (02:42):
Cute working on that at the moment.
Speaker 4 (02:44):
My god, Well, my lovely friend who I live with
also she did our front garden like months ago, and
now we're finally starting to see the fruits of isn't
it cute.
Speaker 3 (02:53):
When we walk home and you're like, oh, there's a
little flowers.
Speaker 4 (02:55):
Oh my god, it's so gorgeous, so cute. That sounds lovely.
And also it's almost Halloween, which is very exciting.
Speaker 2 (03:03):
We got to hear more about Jess's pumpkin. I love that,
but we won't bring that up if you know, you know,
I suppose yes, are you doing anything for Halloween? Like,
are you excited about it?
Speaker 4 (03:14):
I do also love any kind of theme, anything that
you can dress up for celebrates so fun. Like, I'm
sure I will do something. I just don't know what
it is yet.
Speaker 2 (03:22):
I'm like more of a day of kind of planner,
you know, I'm just a vicarious Halloween I don't organize anything.
I don't decorate my house, but I do a cost
Jessica for her Halloween cookies. Yes, I want pictures of
her house decorations. What did you do with your pumpkins
this year? What activities are you doing with your friends?
Because jess like carve pumpkins. That's really cute. But I
(03:43):
just want to know about it and absolutely apply it.
You're doing.
Speaker 3 (03:47):
God's honestly good.
Speaker 2 (03:51):
My husband's complaining about cutting grass and I'm complaining about
not that much.
Speaker 3 (03:55):
So like life is good that for you.
Speaker 2 (03:58):
But before we get into our money wins and confessions,
miss just Gricci and Beck, I mean you get to
listen to them.
Speaker 3 (04:05):
Thank you a five star review?
Speaker 4 (04:07):
Yes?
Speaker 5 (04:07):
Please?
Speaker 6 (04:07):
All right?
Speaker 2 (04:08):
So this one is by Aim Jamo. I think that's
the right way to introduce this person's user name, and
they say five stars. Inspired loving the podcast, particularly Brooks
episode on investing cool. Brook didn't send me this, by
the way, I know she's already seen this. It really
inspired me to get started. I've always thought investing in
the share market was only for finance gurus, and now I.
Speaker 3 (04:31):
Don't feel so overwhelmed.
Speaker 5 (04:33):
That's lovely, And that episode Brook did was so good.
Speaker 2 (04:35):
Ye just the fact that she was so transparent around
like what she owns and how she picked it. I
think that's the stuff, Like, that's the grit, that's the
stuff that we actually learned from because we do so
many episodes on like He's how to invest, Here's what
to do, and you're.
Speaker 3 (04:49):
Kind of like, what are the people doing?
Speaker 2 (04:51):
Not because you want to copy them, because that would
be silly, yea, because past performance is not a reliable
indicator of future performance, Miss Bess said, but because you go, oh, well,
if she can do it, well, I could do it
totally absolutely well, just girls, And it turns out it's
not that hard.
Speaker 5 (05:07):
It's not once you figure it out.
Speaker 2 (05:09):
No, we're amazing. So tell me more about this amazing community.
Miss Jess Green, she what's going on?
Speaker 5 (05:15):
Alrighty, first of this week, I've got a money in
from Aunt who said I saved six hundred and thirty
six dollars by realizing an eight kilogram dryert was big
enough for our needs. They'd only been considering a nine
kilogram because their washing machine is nine kilogram. And they
said the best part is they paid for the dryer
by selling stuff around the house. They no longer needed
and still had some cash leftover.
Speaker 4 (05:34):
Oh that's great.
Speaker 3 (05:35):
I kind of just I never thought of that.
Speaker 5 (05:37):
No, And it makes perfect sense that like a bigger
capacity one would be you know, quite a bit more expensive.
But it's just not something that it ever would cross
my mind.
Speaker 2 (05:45):
I also don't put everything that I wash in the
dry out. Like I don't know about you guys, but
like I don't enjoy doing the washing because I like
put everything in the washing machine. I saw it by colors,
and if my husband tries, he doesn't sor by colors,
whole thing in our household. So I'm like doing all
my whites, but then my white jeans I wouldn't put
through the dryer. I'd like to shake it and hang up.
But then all of my white nickers, you know, straight
in the tumble dryer. Yeah, so like I end up
(06:07):
splitting it.
Speaker 5 (06:08):
So genius.
Speaker 2 (06:10):
I thought I could have saved money.
Speaker 5 (06:13):
Well now and over next time.
Speaker 6 (06:14):
Next.
Speaker 5 (06:15):
I've got a money in from Anna who said she
was in at Melbourne for work last week with her
an all expenses paid trip and.
Speaker 2 (06:20):
She didn't say hi, I know, so rude. Wow, she
thought we.
Speaker 5 (06:23):
Were friends, and she said all I spent was her
fun money, and she was still under the limit because
obviously work paid for her meals and all those sorts
of things. She was down, she paused her gym membership,
so basically she just existed for free for a week.
Speaker 3 (06:36):
That's so cool. Was like putting life on pause. Yeah,
that's really great.
Speaker 1 (06:40):
Great.
Speaker 5 (06:41):
Next, I've got money in from Caara, who said it
pays to ask her internet router died and she ended
up chatting to tech support from the internet provider. A
new router and mesh system was going to cost her
four hundred and eighty dollars. She asked them if she
could use the existing mesh system that she already had,
and the company helped her to set it up, which
meant she didn't need to buy anything new at all.
Speaker 2 (07:02):
The hell is a meshte I have no idea, but
if she's saving money I need.
Speaker 5 (07:06):
I think it extends the Wi Fi. This is something
my boyfriend spoke to me about and I just went
a huh uh, huh, you just I'll just transfer the money. Yeah,
but I think it like extends how far the Wi
Fi reaches.
Speaker 2 (07:19):
I have no idea what that means, but I'm very
excited that you're saving yannny by asking questions. Great that
it was free.
Speaker 5 (07:25):
So I've got a money in from Christa, who said
she was invited to model a dress which was made
of recycled materials for a sustainability conference.
Speaker 2 (07:32):
Oh that's cute, too fine, very special.
Speaker 5 (07:35):
In return, she got to attend the whole day conference
for free, and she got to use her professional development
leave from her workplace.
Speaker 2 (07:41):
Oh good, how exciting.
Speaker 5 (07:43):
Yeah, the conference, it only costs two hundred and ninety
five dollars, and because she used her professional development leave,
she was paid to be there. And she said, on
top of that, it's something she's really passionate about, so
she could spend the day learning.
Speaker 2 (07:53):
That is actually so yeah, I would wear a dress
in front of everybody. I don't even care what it
looks like for you.
Speaker 3 (07:59):
Five dollars.
Speaker 5 (08:00):
And last of this week, I've got money in from Natalie,
who said she recently fell in love with iced lavender
marcher lates.
Speaker 2 (08:06):
Now that's even more agriculture. That's been putting more agriculture
in the agriculture drink.
Speaker 5 (08:12):
And how many fans can we get in there? Absolutely not,
she said, Normally they're eight to ten dollars a cup,
which is crazy. She said it was a special occasion
drink only, but after chaving her barista, they told her
that she could buy a whole bottle of the lavender
syrup from them for eighteen dollars. Combined with twelve dollars
fifty of much powder from coal, she can now make
her favorite drink for seventy six cents, and she said
(08:32):
she gets to feel like a smug bug drinking it
at home whenever she ugs.
Speaker 2 (08:36):
I that for you, Like, I just want people to
be happy, but I just that's one of the things
I can't wrap my head around. Like there are a
lot of things like I maybe need to make a
TikTok of like people I just don't resonate with it.
Would drink Marcher for enjoyment is black number one?
Speaker 4 (08:51):
I think you would suck to realize after you know,
lots of trial and error ordering different coffees as you
grow up, and be like, damn, I actually the one
I like is eleven dollars every single day.
Speaker 3 (09:02):
It would be really because I know that like Jess, right,
you and I coffee fiends.
Speaker 2 (09:08):
Oh yeah, but like Jess thinks coffee is disgusting, So
like maybe she's a much a girly and we're not
like it's it's not because it's actually bad, it's just
because I'm obinionated and probably shouldn't be on topics that
make other people happy. But you live, love, laugh through
all of that. Really, But my favorite coffee is a
mont Blanc what is that? Which is a iced coffee.
(09:30):
It's an iced black coffee and it usually has like
an orange syrup in it, and it has a like
cold foam on top, so like a cream vanilla cold
foam usually, and then it's usually topped with nutmeg. And
like my husband cannot think of anything worse. He's like,
why are you drinking a Terry's Chocolate orange? And like
(09:51):
if you had a Terry's Chocolate orange, oh, that is
an elite experience that she should not be saved for
Christmas Terry's chocol orange for all years, I say, but he.
Speaker 3 (10:03):
Says, that's disgusting. So like, I get it. That's a
really expensive You.
Speaker 5 (10:07):
Get some orange syrup and do it yourself.
Speaker 3 (10:09):
You could, you really could sound the same.
Speaker 5 (10:12):
Well, I mean this is the thing.
Speaker 2 (10:13):
She got it direct from the people, direct from Domingo. Yeah,
is good.
Speaker 4 (10:19):
Let's not let's not sleep afrigado?
Speaker 3 (10:21):
Is that hits different?
Speaker 4 (10:22):
God hits different.
Speaker 2 (10:24):
We don't even need liqueur liquor whatever they call it,
because you know how sometimes people put the ice cream
and then the shot of coffee and then like Frangellico
or maybe some like Kolua or Bailey's or something.
Speaker 3 (10:36):
I don't even need that. I just need the ice cream.
Speaker 4 (10:39):
Yeah, actually, just ice cream is good.
Speaker 2 (10:40):
I think actually Jess would be on board ice cream
or like a strawberry.
Speaker 5 (10:44):
So I refresh eye is what I was gonna say.
If anyone has the in for that, I loved by.
Speaker 3 (10:48):
I don't have that. But when there is a will,
there is a way.
Speaker 2 (10:50):
But did you see that girl complete side note, who
got sued by or threatened to be sued by Starbucks
because on TikTok she was sharing all their recipes. It
kind of makes sense they probably didn't want that distributed,
but there are a lot of people that screenshot it
then put it on Reddit. If hypothetically you're looking for it, Wow,
you wouldn't because we wouldn't take advantage of national corporations
(11:10):
like that.
Speaker 5 (11:11):
Definitely not.
Speaker 3 (11:12):
Oh no, anyway, that was a very good.
Speaker 2 (11:15):
Wrap Jess, and sorry for my random tangent. Tangent, miss
tell me about your broke tips. So my first one
comes from Jess Ricky.
Speaker 3 (11:25):
Sorry, we've just been crowdsourcing from our own.
Speaker 4 (11:29):
Because I was rush today and well I was and
I just didn't prepare. And then Jess Ricky walked in
with a tablecloth for a pant. I don't know if
you can tell.
Speaker 2 (11:37):
But tell their table If you say Jess walked in
with tablecloth for pants, I think people are going to
be like giving a wind clothe, It's like you need help,
it's giving Adam and Eve. But that's not actually what
your pants look like. People started complimenting your pants and
you were like.
Speaker 3 (11:55):
Guess what I made these tablecloth?
Speaker 4 (12:00):
They look so well done.
Speaker 5 (12:01):
I made my first pay I don't wear it a
podcast and nobody can see this, but I made the pain.
I'm wearing my very first pair of clothing or my
very first item of clothing that I've made.
Speaker 3 (12:09):
I think they're so nice.
Speaker 4 (12:10):
And did you have the tablecloth already or you already
had it?
Speaker 2 (12:14):
Yeahstine dollars some came out.
Speaker 5 (12:16):
It was nine dollars, but yeah, tablecloth. I've heard people
say like thrifted bed sheets are really good because you
can get.
Speaker 4 (12:21):
Like linen and have you eaten on those?
Speaker 5 (12:25):
No, I hadn't used it, which because they look so.
Speaker 4 (12:28):
Clean, those spaghetti stains they really like color. Yeah, it's crazy. Well,
there's extremely impressive.
Speaker 2 (12:36):
And so it goes to show that if you seen
a really expensive sewing machine, if you do all of
those things, you too could make pants out of nine
dollars tablecloths. But yes, sorry, can we just side note
tell me about your like little sewing classes because that was.
Speaker 5 (12:52):
Also a money win. It needs a good break tip.
I think we've made this before, but it's through my
local council. You guys know I love.
Speaker 1 (12:57):
A local.
Speaker 5 (13:00):
Council does a bunch of like upskilling courses. So there
was sewing, cake decorating. There's also a lot of like
language and maths ones and things like that. Obviously I
was like, not for me, boring, I want to do
something fun. But those are also very good available options,
and it's so cheap. It was fifty dollars for a
ten week course. And I've now learned to sew my
own pants.
Speaker 4 (13:18):
That is really cool, very exciting.
Speaker 3 (13:20):
Just found somebody who loves their local council.
Speaker 4 (13:22):
Yeah, that's also great.
Speaker 2 (13:24):
Name somebody who's like just so valued. I'm here being like,
why don't they pick the bins up on time? When
I called to ask for house plans, Why couldn't you
find them?
Speaker 4 (13:35):
Yeah, that's true. So I really appreciate your take because
I feel like people only like counsel when their bins
aren't collected. They're beIN's broken and I never think to change.
So I think it's great.
Speaker 3 (13:46):
Absolutely well.
Speaker 5 (13:46):
They're only funded to do like lots of things for
the community, and I feel like nobody ever does look
for them. That's true to get true.
Speaker 4 (13:53):
So you couldn't have sold your pant before the course.
Speaker 5 (13:56):
I didn't know how I had the sewing machine, but
like I learned, and I made a lot of mistakes
making them, so I was very glad there was someone there.
Speaker 2 (14:02):
Did you have an I feel like that's they It's
said to be mistake.
Speaker 5 (14:06):
And the fabric is not perfect for because I was
the tablecloth. It's not perfect for clothing, but I just
had it and I liked it, and so I messed
something up. I had it unpack the whole leg and
another girl in my class, bless her was like, you're
going to be here all night. So she took the
other end of the pants and we're like, do you
love lady in the traps?
Speaker 2 (14:28):
I would have been there all night.
Speaker 5 (14:29):
Thank goodness for her.
Speaker 4 (14:30):
Oh God, I love that. It is so wholesome, whole
love that so much.
Speaker 3 (14:34):
What else have you got back?
Speaker 4 (14:36):
So thank you, Jess. The sext one comes from Amma,
who says I called up my bank and asked them
to put me onto the promo interest rate for the
savings account. Now that it's finally growing. A few minutes
on the phone and it's done for the next three months.
Speaker 3 (14:48):
What three months?
Speaker 4 (14:49):
Yeah, So I say, keep on top of a few things,
local council website and also bank interest promo rates. You know,
sometimes your your bab and like.
Speaker 2 (15:00):
You don't get that's what Jess was telling us before.
Speaker 4 (15:03):
Yes, And sometimes you'll see your own bank like for
new people you get this promo whatever, and you're like,
I've been here sitting waiting being patient to the new people,
which cracks doesn't pay.
Speaker 3 (15:17):
We aren't loyal, does it?
Speaker 6 (15:19):
No?
Speaker 4 (15:19):
And so I think in these kind of situations as well,
you probably could call up and be like, hey, did
you forget about me, and then.
Speaker 2 (15:24):
Did Mike Taylor up?
Speaker 3 (15:25):
What's the worst thing that could happen? She just doesn't
answer exactly, And then.
Speaker 4 (15:30):
My broke tip. I've recently gotten into ringmaking, and.
Speaker 2 (15:34):
I've seen on TikTok. Sorry, not even on TikTok. I
don't even know if you're on TikTok sometimes but mainly
sometimes mainly Instagram. Yeah, I've seen your videos on Instagram. Guys,
if you're not following back and you want some more
rogue content in your life, you never guess what comes
next on her Instagram stories. Thank you? Is that sweet?
Like I think it's great because like sometimes I'm like, oh,
(15:55):
look she's hanging out with her girlfriend.
Speaker 3 (15:56):
That's so cute. Oh look she's making pottery. What I
didn't even know you made jewelry.
Speaker 2 (16:00):
Where is this coming?
Speaker 6 (16:01):
I know?
Speaker 4 (16:02):
This was just like I don't know where a camera
ei love.
Speaker 2 (16:04):
Oh she's making a video with no pants on for
a company in Brunswick. Oh okay, no worries.
Speaker 3 (16:09):
Like that is wild.
Speaker 4 (16:12):
They're so sweet.
Speaker 7 (16:13):
Thank you.
Speaker 3 (16:13):
I follow you tenaciously.
Speaker 4 (16:17):
And you are like you boost me like no one
else like I know that you will be You'll be
in the comments you'll be in the likes.
Speaker 3 (16:23):
I'm always at DMS need that I'm in your comments.
I'd like, I love it. I am obsessed.
Speaker 4 (16:28):
I love it, thank you so much. But with silver rings,
so I kind of was googling it for ages and
I realized, like on Etsy and stuff, you can get
whole kits for like one hundred and fifty bucks, which
is like, so.
Speaker 2 (16:40):
That's cheaper than most of my hobbies.
Speaker 4 (16:42):
Yeah, it's like fine. But instead I went and there's
actually this jeweler or jewelry store in Melbourne. I'm sure
there are equivalents elsewhere. It's called Kudak k o o
d ak, and you can get gemstones for literally like
from twenty six cents.
Speaker 3 (16:57):
To like ten dollars. Yeah, and you'm natural.
Speaker 4 (17:01):
I love sparkling.
Speaker 3 (17:02):
Oh my god, I'm a bird.
Speaker 4 (17:04):
I just love this. And then you can get silver clay,
and so you can get a five gram little bag
that is like thirty dollars. You can get them either
on eBay or at this actual place, which is it
looks like it's tiny, but it will make one ring.
So let's say, for example, you are making a ring
for someone for their birthday, and you get three gemstones
with twenty six cents and they are natural gemstones, maybe
(17:26):
they lab grown sometimes I don't understan why they're so cheap.
I don't really get it, but all crap in it
and I'm happy, absolutely, Like I made an opal and
the ruby one because that's mine name, make your friend's birthstones,
and literally like they were big. They were two dollars each,
two dollars twenty six each.
Speaker 2 (17:43):
I can't believe it.
Speaker 4 (17:43):
But anyway, so silver clay and then you literally just
fire it in your own house.
Speaker 1 (17:48):
I do stove.
Speaker 4 (17:50):
It's and it's super quick, it's super easy. It's so cheap.
And then when you if you give someone a hand
made read, I would cry, what gorgeous? And it's real
silver too, I have to know.
Speaker 3 (17:58):
Crazy so with silver clay.
Speaker 2 (18:00):
And this is maybe me thinking outside of the box
because like my mum is obsessed with that like fingerprint jewelry,
so like for one of her birthdays, we brought her
one of those beautiful I think it's from Lynden Cook
stunning necklaces.
Speaker 3 (18:14):
She's got this like chunky silver necklace.
Speaker 2 (18:15):
She's got my sister's fingerprint, my fingerprint, my dad's print,
Like that's what she wanted. She thought it was very
very cute and I also love it, but like that
was not cheap. Could you put a fingerprint into the
silver clay?
Speaker 3 (18:28):
Absolutely?
Speaker 2 (18:29):
That is to make your own, like I don't know,
little charms for necklaces or like rings with them.
Speaker 5 (18:34):
Yeah, the pets too, with the pets nose print, that's.
Speaker 2 (18:38):
So cute to see. Where are you You just get
a little book and then yeah, yeah that's someone's business idea,
but it rings that is the dog does a boot.
Speaker 4 (18:49):
You could make like little dog tags with silver dog tags,
like lip collar, so cute. So you could do anything
with the silver clay. And it's you're meant to like
torch fire it, but I broke mine own how and
so I just literally do what over the stove. You
just get some tweezers, be careful.
Speaker 5 (19:03):
And it turned it into actual metal.
Speaker 4 (19:04):
It turns to actual silver. It is crazy because it
still looks white. You gotta like rub all the whiteness
off when it's done. But there's a point where you
touch anything with the clay, it sounds like clay, and
then you do that again later on and it starts
clinking and you're like it's turned to silver.
Speaker 5 (19:21):
I love, like, so this is a team activity.
Speaker 3 (19:24):
Yeah, it is activity.
Speaker 5 (19:27):
So I that is my both the Gemstone place again
sorry kudak k o d a k. And it's like
going back in time, like you go in there and
it's very like paper bags and I don't know that
makes sense.
Speaker 4 (19:37):
I'm really not killing you.
Speaker 3 (19:38):
No, I'm obsessed. I'm obsessed.
Speaker 1 (19:40):
I love.
Speaker 2 (19:41):
Let's go to a really quick break, guys, because on
the flip side, we're going to be answering money dilemma.
Is it a good idea to use the equity in
your home to then buy a new car? And something
is slid into our dms about being asked to contribute
to a trust rather than gifts for a one year
old's birth date, which I think is going to get
a little bit divisive.
Speaker 3 (19:58):
So guys, don't go any anywhere.
Speaker 5 (20:04):
Welcome back, everybody. Let's take a listen to this six
money dilemma.
Speaker 6 (20:10):
Hi, there, have you got a money dilemma you just
can't solve?
Speaker 2 (20:13):
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. Now, let's take a listen to
this week's money dilemma.
Speaker 7 (20:33):
Hi Shees on the money, I've got a question about
buying a new car. I'm purchasing a new car and
I've been looking at interest rates for car loans and
they're quite high. I currently have equity in my homelan
and I'm wondering if I should use that to purchase
a new car. My home loan is three hundred and
fifty thousand and the value of my property is one
point one million. Am I better off buying the car
(20:55):
using the equity in my house and therefore having a
lower interest against that loan, or should I just keep
the car and the house separate. If I take your
equity out of the house to purchase the car, I
do plan to make extra payments to pay that down,
but it would obviously be at a lower interest rate
than if I got a car with a car loan.
(21:16):
What are your thoughts? Thank you?
Speaker 3 (21:18):
What in the wealth right?
Speaker 2 (21:20):
Sorry? You're only only three hundred grand on a million
dollar property? Money? Wein well done? I want to know
before I could just dive in, but like, what do
you reckon Jess using your equity?
Speaker 5 (21:33):
Yeah, it's just a bit out of a thworsh of our.
I think the argument does make sense that if it's
at a lower interest rate, then it would be on
a car loan. I guess a loan is a loan,
and you're rolling it into your home loan. I guess
the only thing would be I don't know how it
works when you use equity to make a purchase. It's
(21:53):
not a house. Obviously, the payment terms on your home
loan more often than not around thirty years, so I
don't know if they would automatically don't even need to
be here where my brain was going, so like, if
you're going to stretch the payment out over thirty years,
then obviously that's like a lot. But then she did
say that she was planning on making extra payments. I
don't really know how it works, Like I'm assuming it
(22:16):
just rolled into.
Speaker 2 (22:16):
Your existing loan.
Speaker 5 (22:17):
It's not like you've got two separate things that.
Speaker 2 (22:19):
You don't you don't roll into existing ones. But how
are you feelings? Like if I had access to eight
hundred grand equity, I'd be spending it.
Speaker 4 (22:26):
Yeah, but equities always confused me because what I was
told was that equity you can use that as a
deposit for a new house. But I didn't know you
could just like.
Speaker 2 (22:36):
Spend, Well, you can release equity as cash. So what
happens is like I, as you guys know mortgage broking business.
We might have a client come to us and let's
use her exact example, Hey, I owe three hundred grand
on the property I have, you know, one point one
million dollar property, Like that's what it's worth. So we
would calculate that she has about eight hundred thousand dollars
worth of equity. Now she could access some of that
(23:00):
equity and buy a new property, So you could use
some of that as a house deposit.
Speaker 3 (23:05):
Most banks just.
Speaker 2 (23:06):
Require a reason why they're releasing some of that because
they've got basically your big asset. So the bank has
what's called a caveat over that one point one million
dollar properties. So if everything went south and they're like, well,
Beck didn't pay her loans back, we're going to sell
her house and get our cash back, they're not that worried, right,
but they do want justification as to why you're getting
(23:28):
that money out and lots of people will you know,
take equity out to you know, I would say, most
commonly buy another property, so use that cash to not
have to save another deposit to get into their next home.
Or they might use that equity to buy a caravan
or go on a holiday, or they might buy a car.
Whether that's the best financial decision is up for debate,
(23:50):
because you could look at it as Okay, well they've
got all of this equity, and like, let's pretend your
home loan is still sitting at like five percent, right,
that is much much lower as an interest rate if
you have to borrow money, like if you don't have
the cash to pay for the car outright, five percent
is a lot lower than asset finance rates, which could
(24:12):
be honestly anywhere between eight and fifteen percent usually, So
if you just look at the interest rate, you might go, well,
that's better.
Speaker 3 (24:21):
And that's what most of our clients do.
Speaker 2 (24:22):
And I'm not saying it's a bad thing, because if
we are purely looking at it from a.
Speaker 3 (24:27):
Debt perspective, that's fine.
Speaker 2 (24:29):
But she is definitely on the right track because when
we do this for clients, we do make the recommendation
that you make additional payments because that equity is going
to be paid off over thirty years.
Speaker 3 (24:39):
And like, if your home loan is.
Speaker 2 (24:41):
Like twenty to thirty years left and you're borrowing fifty grand,
you're potentially paying that off for decades, which means, even
though it's a lower interest rate right now, it might
mean paying like eighty to one hundred thousand dollars in
interest over the life of the loan, which then you go, well,
that's dumb. Even though it feels like it's a money win,
it's not. So what I would do is calculate, well,
(25:02):
what monthly repayment could I afford for this car? Yes,
I'm going to build it into the equity of my home. Yes,
you're right, Jess in terms of it's not a separate loan,
it's just like additional But I'd be trying to pay
off that additional in like three to five years instead
of over thirty just to make sure that you're not
getting stung with the long term interest repayments, which over
a long time do actually add up what amount of
(25:25):
money fifty grand inequity on that property is genuinely going
to probably cost over like a thirty year period.
Speaker 3 (25:31):
Another eighty tw one hundred.
Speaker 2 (25:32):
Thousand dollars, which is obviously worse than the high interest
home loan over five years. Yeah, so you need to
make sure that you're making the right decision, not just
going well it's less interest, that's a better deal.
Speaker 5 (25:44):
Right.
Speaker 2 (25:45):
So I think that you would take, I would say,
a more balanced approach of well, I want a new car. Yes, great,
that's the decision we've made. How are we now going
to finance that? Can you afford additional repayments? And this
person has said yes they can, But if you can't,
I don't want you going to just take out more
equity and then being like, well it does a matter,
(26:06):
I'll pay it off over thirty years. Like that's going
to shoot you financially in the foot. So I think
I'm a bit conservative when it comes to that. But
like the reason I'm conservative is because I just don't
want you in more debt than you need to be in.
Speaker 4 (26:16):
No. Absolutely, yeah, Well with equity is that I thought
it was like the amount that is a Let's say
you buy a house for five hundred thousand dollars and
then it's worth a million dollars later, you have five
hundred thousand dollars in equity. But equity in fact is
what I'm learning here is how much you've paid off.
Speaker 2 (26:31):
No, not necessarily. So say I spend five hundred thousand
dollars on house, Yeah, and then I have my little
twenty percent deposit, which is a lot. I've got one
hundred thousand dollars in deposit right now, I have no
equity because when I look at the property value, it's
worth five hundred thousand dollars. The equity technically would be
that twenty percent deposit, but you can't use it because.
Speaker 3 (26:52):
You've already paid for it.
Speaker 2 (26:53):
Yes, Then a year later, I get my house revalued
and it's worth six hundred thousand dollars. I've now got
another hundred two thousand dollars because I've had my twenty percent,
and there's now thirty percent or more equity in that.
And I can actually use that cash or that value,
not necessarily what you've paid off, but that value in
that property to leverage you into other assets. So it's
(27:15):
not necessarily what you've had to pay off, but it
can be. So like if you paid off a heap
of your mortgage and you only owed a in this
listener's situation three hundred grand and on a million dollar
probably she's got a lot of equity. Maybe, and we
don't know her financial situation. What if she bought that
house for three hundred grand and then she just like
bought an absolute gem and it's scored up to a
(27:36):
million dollars. Or she could be the biggest best hustler
saver we've ever seen. She paid eight hundred grand off,
do you know what I mean? So, like it could
mean both things. But equity is accessible cash or capital
that exists in a secure asset that you can then
use for other funding purposes.
Speaker 4 (27:54):
Like how it's.
Speaker 5 (27:55):
Shares, you know, how you say, oh, my sharre's worth
a dollar, but it's only worth that if you sell it,
if you actualize the cost, your house is worth that
if you were to sell it, and.
Speaker 2 (28:05):
The bank looks at that and says, well, the house
is worth a million dollars if we were to sell it.
So it's pretty comfortable if we gave Beck another fifty grand,
because ultimately, if she stopped paying her mortgage, we'd sell
her house out from underneath her and we'd get our
cash back.
Speaker 3 (28:20):
So we kind of just don't mind as much, which
is why the interest rate is lower.
Speaker 2 (28:24):
Because that's what's called a secured asset, because there's something
that the bank has this caveat over that they can
sell to get their money back, whereas unsecured debt, which
is where they go, oh, bet, shelves your income, shells
your assets. You seem like a nice person will give
you a loan. Well what happens if you got that
car stolen and it wasn't insured. Yeah, they can't sell
(28:45):
the car, so it's unsecured.
Speaker 3 (28:47):
I see.
Speaker 2 (28:48):
So there's unsecured and secured debts, and unsecured debt is
always going to be more expensive, which is why a
lot of people look at their equity in a pretty
favorable way.
Speaker 4 (28:57):
I see, I see. Well, thank you for that very
informative and educational response.
Speaker 2 (29:03):
Well, I don't know if this is going to get
better or worse. If I ask you, guys, do you
want to hear our listener dilemma from this week? But
I think it's going to be a little bit douicy
because I can't wait to see. And this is one
of those ones where I'm like, I don't know.
Speaker 3 (29:16):
What you're going to say. So we got a DM
this week. Are you ready?
Speaker 2 (29:20):
Hi, She's on the money. We were recently invited to
a first birthday party. In lieu of gifts, the parents
have asked guests to contribute to the Birthday Babies Trust account.
This is the first time I've come across this as
an idea. Is this a new norm now? I'm not
sure how I feel about it. On one hand, the
financial landscape is going to be hard enough for our children,
(29:40):
so whatever we can do to help. But on the
other hand, would love to know what you guys think.
Speaker 4 (29:47):
M I feel like they're like, contribute to the party
that we're throwing, or contribute to There's something about specifically
contribute to my child's future.
Speaker 2 (29:59):
I think like as long as.
Speaker 4 (30:01):
Everyone is comfortable with some people putting in literally like
three dollars, Like right now, if someone asked me to
contribute to something, I'd be like, I literally have two
dollars to give you, and and that has to be
treated with the exact same level of respect and gratefulness
as one hundred thousand dollars. It's about like what you
(30:21):
can do, what you can afford to bring to the table.
If it's like a present, you can kind of get
away with hiding. If you don't have the money, you
can just repurpose something in your house. You can, like
there are ways to do it without actually spending any
money at all. Yeah, but if someone's like, can you
contribute financially, then that's like, well, that's really exposes people
that literally cannot do that.
Speaker 3 (30:41):
So I don't I totally agree.
Speaker 2 (30:43):
Yeah, Like I don't like that hypothetical though, please because
I would love to know rather than like, is this
and like, I get it, everyone's in a different financial situation,
and I think as a podcast we always address that.
But like, hypothetically you've got twenty bucks, and like I don't,
I don't know for a first birthday party, like I
would say presence of twenty to fifty bucks, Like depending
(31:04):
on what you're doing. If you're spending more than that,
pop off queen, but like I would say twenty to
fifty bucks. Let's pretend you've got twenty dollars. If somebody
if you were invited to, like, let's pretend it's my
son Harvey. I said, Beck, come to Harvey's birthday party.
And then on the invite, I said, could you contribute
to his trust account instead of you know, bringing a
gift and you've got twenty bucks to spend. Are you
(31:26):
happy spending that and just putting it into his trust
account or would you prefer to bring a present or like,
you know, were you never going to bring a present?
Speaker 3 (31:33):
Like what does that look like?
Speaker 4 (31:35):
I guess in that situation with the twenty dollars, I
would be like, I'm going to stretch this and I'm
going to find some I'm going to make like a
little hamper of cute toys and it will be very impactful.
But if you wanted that instead me to put that
into his trust fund, I would the only thing. And
this is probably me projecting, and I'm sure everyone.
Speaker 3 (31:53):
No, that's what I want.
Speaker 2 (31:54):
That's why I'm asking you if you had twenty bucks.
Speaker 4 (31:57):
Well, this is this is where. This is where I
want the projection.
Speaker 3 (31:59):
I want the thoughts.
Speaker 4 (32:00):
This is the thing that gets tricken. I feel like
everyone who's maybe broken up poor or who sorry, or
anyone who's grown up or or is has been poor
later in life or whatever that is there's a feeling
of insecurity that should not be there, that is socialized,
that is like a taught to us, but which should
not be there. But it's unfortunately still there. So if
you said, if we all showed up with a present,
(32:21):
everyone would feel equal. Now it's trust fun Now you
can see that I've only given twenty dollars. Now I
feel like really embarrassed visible and it's very visible, and
it's very like you can't really hide that. And unfortunately,
like same with like at weddings when you have to
give money the cash, and it's like, well, now I'm
spending way more than I actually was going to. But
if I don't, then I'm exposing myself as But it's
(32:43):
it's if you take away all the emotion and the
shame that you might feel, and the projecting this insecurity,
like maybe you won't feel any of those things. Maybe
you're surrounded by people who can afford the exact same
as you. If you take all that away, it's still
like funny to like, I don't know, maybe ask for
money is like it's more useful than a gift sometimes,
so I'm all for it, but I think there's just
(33:04):
like it's so layered and it's so risky and you
don't want to make someone feel like shit, So absolutely not,
That's kind of where I'm at.
Speaker 3 (33:11):
I agree.
Speaker 5 (33:12):
I think The big negative is the visibility of what
you're giving, because it's like you can give someone a
gift that is worth fifty dollars, but maybe I got
it on sale and I only paid ten dollars for it.
Speaker 3 (33:23):
It's nobody's business.
Speaker 5 (33:24):
It's absolutely it's nobody's business. And like the cost of
the gift is not quantifiable against the love with which
it is given. But I do agree that it is
like in that situation, it's like a very clear cut,
Oh well, Jess gave five dollars and someone else gave
fifty dollars and it's you know, I can I completely agree.
I think that is the big negative of it. The
positives on it, from my perspective, there's a couple. One
(33:46):
is someone who doesn't have kids got it's so much
easier to just give them money than to try and
figure out what to get them, you know, like agree
gift giver.
Speaker 3 (33:53):
I try to be Jess. For Harvey's was it Christmas
or no, it's his first birthday.
Speaker 2 (33:58):
You got him that train, so it was like a
Fisher Price train and it's his favorite, like he's obsessed
with it, like Twain.
Speaker 3 (34:05):
Twain, Twain sang place at the time, all the time.
Speaker 2 (34:09):
And also just to shout out to Jessica for getting
a toy that has buttons with lots of noise.
Speaker 4 (34:14):
So good.
Speaker 2 (34:15):
But I do get one that you can switch the
noise off, love you, but he knows how to turn
it on.
Speaker 5 (34:20):
But yeah, so I think that, like it is hard,
especially as kids get older as someone who doesn't have kids,
and like, yes, you obviously can ask the parents. That's
usually what I'll do. Or you know, I knew that
my nephew really liked that presence, so I was like,
Harvey will probably like something similar. But it is like
so much easier to just go all right, here's the cash.
It is nice to know that it will contribute to
their future. We know, like we the three of us
(34:41):
and the listeners to know so much the power of
compounding interest, So twenty bucks now in fifteen years is
quite a bit more so, like that's nice to know.
And I do also think it can beat a lot
of the wastefulness. So I know of my friends they
go god like obviously very grateful for the things that
we get.
Speaker 3 (34:59):
You know, gives a gratitude.
Speaker 5 (35:01):
What is a kid going to do with fifteen trains
or like fifteen new toys, Like they don't need it,
They grow out of things quickly. There is an element
of wastefulness there too, which again the money kind of negates.
I personally would be fine with it, yeah, on the assumption.
And I mean I can obviously speak for my friends.
I know whatever amount I was to give someone they
(35:22):
would be thankful for it would be a non issue.
But I also totally get the stress of like it's
as you were saying, similar to weddings, like, oh, like,
is what I'm giving appropriate in line with everybody else,
Like I don't want to send the wrong message by
giving the wrong amount of money. Like that is more
complex then, I think, like if it's a conversation that's
been had or you know, when I think about like
(35:44):
your baby shower, eat, you said, oh, everyone bring a
book if you want to give a gift, Like obviously
gifts are not necessary, but if you really want to
bring something with love a book. So I think if
it was communicated in that way, like gifts are totally
not necessary. Your presence is the present type of vibe.
But if you did want to contribute thing, we'd love
to for you to contribute to their future by putting.
Speaker 2 (36:03):
Some money for us, like just to give a bit
more context to that for us, So it was not
so much about like getting gifts, but getting things that
to me were very special to share with Harvey. So
like the additional context there is, like we asked for
your favorite childhood book and you could have gone to
kmart and gotten a ten dollar book like that's or Gabby,
(36:25):
actually who I speak about, I don't know a lot,
but she used to be my EA and then went
to work at the AFL, which I'm very proud of
her for, but she's also a very good friend of mine. Now,
she actually gifted me the legitimate book that she had
growing up that had like a few coloring in things
from when she was three and drew in it. It's
called Koala Lu just so you know, and she wrote
(36:47):
the most beautiful message in the front four Harvey being like,
this was my favorite book growing up and I can't
wait for you to read it. So that didn't cost
her a dollar, but I would say it's one of
my most prized possessions for Harvey because, like you know,
everybody wrote we asked for books in lieu of cards
and gifts, and like if you're going to write a card,
please write it in the front of the book. And
now whenever I'm reading to Harvey, he gets this book
(37:09):
and I go, this one's from Jess, or like this
one's from Beck And that was really to me, really sweet,
but that was what we were looking for. Not everyone
is in the financial position as well for a baby
shower to be asking only for books. You might actually
need the car seat paid for, and I totally get that.
But for me, it's like I don't feel comfortable asking
for gifts. But that's again a personal situation and like
(37:32):
each to their own, right.
Speaker 5 (37:34):
Like, I guess that's the one other thing is you
miss out on the sentimentality, Like there is something really
joyful about knowing you've given something to a child and
they love it. It becomes their favorite toy or their
favorite book. Yeah, it's I guess also a very selfish thing, right,
like going, oh, I love knowing that I gave that
to you and you love that.
Speaker 2 (37:50):
But I love that, And I don't know. I think
there's something about when you talk about kids, it's also
about connection and like building that connection. Like, don't get
me wrong, like Jess, I'm not trying to downplate it
at all. You gave my son a plastic train. He's
so obsessed with it and he loves it, and whenever
he's playing with it, I'd like send us a picture
and be like, oh my god, he's still on about
(38:10):
the bloody train. And it's just like you want to
feel part of their lives. And I get that you're
in the background building their lives because you've contributed to
their trust. But I also think that that can be complex.
So I think it would be for me around the
articulation of that request as like a fai if you
(38:31):
know you were planning on getting a gift and like
also didn't want to have to go shopping. Here's our
trust that we're building up and maybe giving a bit
more context, like to build Harvey's wealth in the future,
or to hopefully one day get him into his first
home or something, or for his education or whatever it is.
I feel like if it was presented as an option
rather than a do not bring gifts, contribute to the
(38:51):
trust kind of thing, I think that changes it because
you're right, like you might want to show up with
a gift, and I think that that's.
Speaker 4 (38:57):
You might have a gift come in nature away.
Speaker 2 (38:59):
Yeah, because I've talked about it before and maybe I
could do a whole episode on how you know. And again,
I would like to acknowledge my privilege, which I feel
like I am consistently doing, but also don't want anyone
to feel less than because this is what I'm doing,
but I don't expect other people to do it. But
when Harvey was born, we established an investment bond on
his behalf and I don't even care. I'll just tell
(39:22):
you we put ten thousand dollars in there because I
was like, okay, cool, ten thousand dollars. And then in
my head we will probably contribute around five hundred dollars
at a minimum each year. So in my head, I'm like, cool,
we'll probably be able to do that, Like two hundred
fifty dollars at his birthday, two hundred and fifty dollars
at Christmas kind of is.
Speaker 3 (39:39):
Where our heads are at. Is that an expectation for
everybody else? Absolutely not.
Speaker 2 (39:43):
This is just me in the financial situation I am
in going. I want it to be reasonable, but I
also want to make sure that I'm building a secure
financial future for Harvey, and like we will do this
for every other child that we hopefully have in the future.
And I know that based on my ex financial advisor
predictions and you know projections, I should say, with a
(40:05):
ten thousand dollar initial deposit and then just like five
hundred dollars a year, by the time he's fifty, he'll
be worth one point four mil. That's a good deal.
Speaker 3 (40:14):
Yeah, And that's got nothing to do with inheritance. It's
got nothing to do with any of that. So that's
the power of it.
Speaker 2 (40:20):
Why, Like, that's why your parents or their parents probably
want you to contribute, because they're like, you know, we've
done the numbers, and like, we're gonna put this kid
in the best possible financial position. But you're also asking
for something that I think not everybody has it the moment,
and that's disposable income.
Speaker 3 (40:34):
And I just I don't know.
Speaker 2 (40:36):
I don't like asking people for money, which is why
I'm so like passionate about like teaching you how to
create your own financial security and your own financial futures.
And you know that probably comes from my money story
of you know, not always having a lot, and being
like I need to set Harvey up because what if
he's in that position and like, I don't know, yeah,
money still makes me anxious.
Speaker 5 (40:57):
As well, totally what did everybody else say?
Speaker 2 (40:59):
Oh?
Speaker 3 (40:59):
Color color?
Speaker 2 (41:00):
Al So, As always, we ask a few questions before
we get into the two cents. First question I asked
was how would you feel if you read this on
a first birthday invitation?
Speaker 3 (41:10):
Thirty eight percent of you said I love it.
Speaker 2 (41:12):
Yeah, because it's a.
Speaker 3 (41:13):
Chese on the money community.
Speaker 2 (41:14):
I reckon, Yeah, I don't know if the general consensus
across Australia would be the same. Thirty six percent said
it gives me the ick. Okay, also fair, and twenty
six percent of you said I'm actually quite torn.
Speaker 3 (41:26):
We then asked, would you end up contributing to the trust?
Speaker 2 (41:29):
Forty six percent of you said yep, don't see a
problem with it, Thirty two percent said yeah, but just
to avoid the drama, eleven percent said no, I'd still
be buying a gift, and eleven percent again same, said
I would be turned off doing either of those things.
You know what I feel like, each to their own.
It's all part of our money story and what we
can and can't afford. I don't know, because like we've
(41:51):
just sat here. If I was asked by one of
you who had a kid, I'd be like, pop off, queen,
I love this, like because that's just part of my nature.
But then you're such a gift giver and like a
gift maker that I think you'd be disappointed that you
didn't get that opportunity.
Speaker 4 (42:05):
Yeah, definitely.
Speaker 2 (42:06):
So everybody's different, and that's why I think it shouldn't
be presented as a we aren't accepting gifts. We only
accept this just as a hey, FYI, because I don't
know there might be people out there that are like, oh, oh,
chuck twenty bucks in your trust account, and I'm also
going to get you a train, like do you know
what I mean? Like, have you met grandparents? They're so
(42:26):
extra like they might be all over that. But then
your friends are kind of like, oh, I'm not so interested.
Let's just present it as a nice option as opposed
to an expectation. Absolutely, we also obviously then said, guys,
what's your two cents? I gave my kids shares last Christmas.
And I think it's a great idea. Yes, because it
was you. Yeah, Like, we're not asking other people, hey,
(42:49):
can you please buy my kid? Vanguard High Growth? Like
the next person said it's like contributing to a honeymoon fund,
and for me, that's a no thank you. Another person
said it's awkward to ask people, but I do sell
unwanted gifts, and then I put that money into an account.
Speaker 3 (43:04):
For my girls.
Speaker 5 (43:05):
Yeah.
Speaker 2 (43:06):
I did get for Harvey's first birthday, I got three
sets of the same book series.
Speaker 4 (43:12):
Right, that's the same.
Speaker 3 (43:14):
And I don't know if I should be admitting this here.
Speaker 2 (43:17):
Actually, you know what, whatever, I regifted one of them
and I put another one on Facebook marketplace. Yeah, he
got the cash, don't worry. And technically that gift was
given by Harvey to another baby. Yeah, but great book set.
I shouldn't have mentioned that I liked it because three
people will listen. Another person said I'd probably be annoyed
that I hadn't thought of the idea.
Speaker 3 (43:38):
For myself and for my kids.
Speaker 4 (43:39):
I love that day.
Speaker 2 (43:41):
Another person said, can we make this the norm? I'm
turning thirty seven soon.
Speaker 4 (43:46):
I'll take shares for my birthday.
Speaker 2 (43:47):
Yes, I should start just gifting people shares. Another person said, well,
how much a gift might spend up to thirty dollars,
But I would feel like I'm not enough putting thirty
dollars into a trust. I feel like that's too much pressure. Yeah,
which I think is really aligned to what you're saying back.
Speaker 4 (44:03):
Definitely.
Speaker 2 (44:04):
Another person said, first birthdays are already really weird. Kid
won't even remember. Feels like a weird money grab. Again,
everybody has an opinion. It's money. Turns out, that's why
it's taboo or used to be taboo to talk about.
And I'm just going to share one more. My baby
turned one this week, and you just get so much stuff.
I kind of wish this was an option. Yeah, I
(44:25):
think you're going to get differing opinions from everybody, right totally.
Speaker 5 (44:29):
But like it's all in the communication, and it's all
in like what feels good to you.
Speaker 4 (44:32):
I'm not gonna lie.
Speaker 2 (44:33):
There is nothing more heartwarming, and Jess, you've got to
experience this firsthand than a tiny one year old ripping
into a present and not even sure what they're doing. Yeah,
it's so cue joy on their face as they realize it's.
Speaker 6 (44:47):
Not just the paper.
Speaker 4 (44:51):
That's so cute, it's oh my god.
Speaker 2 (44:53):
It's like, so don't get me wrong, Like, I can
see the joy, I can see how it might make
people anxious as well. But I think it's more about
framing these things as an option rather than an expectation.
Speaker 4 (45:03):
Absolutely.
Speaker 3 (45:04):
Oh my god, it's like you should communicate clearly.
Speaker 2 (45:08):
That's so weird. All right, great place to leave it, guys.
Thank you so much for joining us, and we hope
you have the best ever weekend and we'll see you
right early on Monday for a money dary.
Speaker 3 (45:18):
Bye guys.
Speaker 5 (45:18):
Bye.
Speaker 6 (45:25):
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 3 (45:44):
Tailored towards your needs.
Speaker 6 (45:46):
Victoria Divine and She's on the Money are authorized representatives
of money sheirper pty LTD ABN three two one IS
six four nine two seven seven zero eight AFSL four
five one two eight nine.
Speaker 4 (46:04):
To deplete the
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.