The HECS 20% discount has the whole community buzzing, and we’ve been getting so many DMs asking whether you need to wait to lodge your tax return because of it. And because we love you, Victoria went full finance detective and called the ATO herself (Yes, she waited on hold so you don’t have to). We’ve got all the tea on what you need to do, and where the government’s actually at with rolling it out. Then things get very spicy when a community memeber drops into our DMs with the ultimate workplace dilemma: she accidentally found her colleague’s payslip... and he’s making 25% more for the same role. What would you actually do? Do you go to your boss, pretend you never saw it, or start job hunting with a vengeance? Plus, as always: juicy money wins, broke tips (yes, including how to get paid just for driving safely), and a big dose of feel-good chaos to wrap your week right.
Ready for more laughs, lessons, and unhinged money chats? Check out our oh-so-bingeable Friday Drinks playlist. Listen here.
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Acknowledgement of Country By Nartarsha Bamblett aka Queen Acknowledgements.
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My name's Tasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya, Niana,
Kaka yah y and beIN 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
Aberiginal people's land that we're gathering on today. Take pleasure
in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
(00:40):
bringing you the tools, knowledge and resources for you to thrive.
Speaker 2 (00:45):
She's on the Money. She's on the Money. Hello and welcome.
(01:09):
She's on the Money, the podcast that makes finance fun
or personal finance fun.
Speaker 3 (01:14):
Well.
Speaker 2 (01:14):
I don't know what I meant to say, but that
we do it, especially on Fridays. Right It's our favorite
day of the week because I get to get my
team together and then what we do is we celebrate
you ow incredible. She's on the money community, Miss just Grici,
she's back and she's going to be sharing our favorite
money wins. Miss beck Sayeed is going to be sharing
her broke tips, and we're going to be helping to
(01:34):
answer a juicy money dilemma, which this week is all
about whether you should wait to lodge your tax return
until after the official twenty percent off Hex announcement, which
I've had a lot of dms about, and something that
you slid into our DMS legitimately about was what should
you do if you found out that your colleague is
(01:54):
earning twenty five percent more than you because you saw
their pay slip and you weren't meant to you do
the same. Damn job.
Speaker 4 (02:02):
Oh I hate it.
Speaker 2 (02:04):
But before we get there, how are your weeks? It's
been lovely? When did I do?
Speaker 4 (02:08):
Oh? I saw Beetlejuice. I know we spoke about that
a few weeks ago. It was wonderful. Highly recommend it
to anyone. I do. I like it. I actually think
you would because it's it's very comedy infused, like it's
not a traditional musical, and there's like lots going on,
like there's just all this stuff like I don't want
to spoil it, but like, lots of things happen, but
(02:28):
it's like fun, it's very fun. Oh my god. The
two leads were unbelievably talented. I would highly recommend it.
They were doing ninety nine dollar tickets, so okay, okay,
money win, money win.
Speaker 1 (02:38):
For you guys.
Speaker 4 (02:39):
There.
Speaker 2 (02:39):
It's a musical.
Speaker 4 (02:40):
It is a musical, Okay, okay. I haven't seen the movie,
so you know, I don't think you have to have
seen the movie to appreciate it.
Speaker 5 (02:45):
Oh that's good to know.
Speaker 2 (02:46):
I also haven't seen the movie.
Speaker 4 (02:47):
Maybe we can watch it together.
Speaker 2 (02:49):
I'm more than welcome or like, I welcome the idea
of watching it together. But I'm so boring that, Like
I'm not a movie girl. I'm a reality TV girl.
And even then I have to scroll on my phone. Yeah,
like I just I wish I was called like just
a got preatchy.
Speaker 5 (03:03):
Culture.
Speaker 2 (03:04):
How was Yeah, I'm not culture. How was your week back? Yeah?
It was nice, it was chill.
Speaker 3 (03:10):
It's I've been like live love laughing, yeah, live love
laughing and on and off sick for like a million years,
gone through it be gone. You know, sometimes you just
just be like that, which is totally fine because I
feel like I feel like my house is also kind
of sick, so I feel like that's yeah, just like
you just reinfect each other. Yeah, exactly exactly, So we're
(03:32):
in this like cycle right now. But it's also just
been really cozy.
Speaker 2 (03:35):
And nice and and yeah, just just loving life. What
about VD No, honestly also loving life. I didn't grow
to beetle Juice. A lot of the team did, though.
I feel like you rallied the troops and you were
like team outing, and I was like, how fun back.
Speaker 3 (03:51):
Do you know?
Speaker 2 (03:51):
I was a little bit jealous though, because like everyone
on the team has come back and they're like, oh,
it was really good, and I'm like, was it it
mus be nice? Anyway?
Speaker 3 (03:59):
It was.
Speaker 2 (04:00):
Yeah, it was a busy week, a good week. I
feel like since thirty June, as you guys know, also
run a finance company, I've been able to have a
little bit more of a breather, which has been nice
to like take a step back, take a breath. I
have been sharing on my own social media actually at
the moment that I'm selling my house, and so that's
(04:20):
just keeping us quite chaotic, like because we're trying to
pack up the house to move. But then we're also
in the process of working out, well which furniture stays
in the house for it to like be styled up
and look really nice to sell. Which furniture do we
need to get rid of? So there's like a process
of like what do we move out of the house,
what don't we where do we put it? What does
that look like?
Speaker 4 (04:40):
Seal it? What do we do with it?
Speaker 1 (04:41):
Yeah?
Speaker 4 (04:42):
Do we sell it?
Speaker 2 (04:42):
Do we keep it?
Speaker 3 (04:43):
You know?
Speaker 2 (04:44):
What would a new house needs? You know what I mean?
Just like all of these things. And then also I
have a baby, and then we've got like three pets,
which is driving the reason. So for those of you
playing along at home, I'm selling our house because we
want to upgrade our house at some point soon and
we this is again very privileged to have this option.
I own a second house on the Mornington Peninsula, and
(05:04):
my husband and I are moving there while we sell
our primary residence because I just cannot fathom the idea
of working full time, having a one and a half
year old, three pets, and doing open for home inspections,
because like I best, I promise you if you think
my home is beautiful, all the time, you are wrong.
(05:26):
There is duplo from I don't even know where all
this duplow came from. It is everywhere, it does, and
like duplo, it's like the bigger.
Speaker 5 (05:37):
Version of Lego, Like.
Speaker 2 (05:40):
Yep, I've got a train track running under my couch
at the moment. Like there's just everything everywhere. And this
morning when I got in the shower, my husband had
been up for a few hours before me, there was
half a banana just sitting on the floor in the
shower waiting for where did that come from? And it
turns out that my husband had given our baby a banana,
(06:01):
and my husband thought that the baby ate at all
at that and Harvey was like, oh, I was just
storing it in the shower. So later anyway, So like
life is chaos. It is good, but it is Yeah,
it's really stressful selling your house. So anyway, the plug
there was I'm sharing the whole process of selling my house.
As you guys know, I work in the property space already,
and I just feel like there's not enough transparency of like, well,
(06:24):
what does it cost to sell your house? How do
you prepare for that? Like, also, how are we buying
a new house? What will that look like? And like, yeah,
I think the transparency hopefully will be welcomed fantastic. Anyway,
I would like to read you guys a five star
review before we do like money wins and broke Tips.
(06:45):
Would that be okay?
Speaker 3 (06:46):
Yes?
Speaker 5 (06:46):
Please?
Speaker 4 (06:46):
I would love that. Okay.
Speaker 2 (06:47):
So this one's from Amy Lee Lauren cute name. I
don't know if her name's amy Lee Lauren or Lauren
is her surname. I've spent a long time thinking about
this because like, girl, are you related to Ralph Lauren?
Is that what it is?
Speaker 4 (06:59):
Lovely?
Speaker 2 (07:00):
Anyway? She says Deep Dives are the best we know,
don't we? She says, my favorite episodes are the Deep Dives.
The three girls always keep me super engaged and I
love to learn new things. Oh, I just thought that
was a really short but sweet one.
Speaker 4 (07:16):
So thank you Amy. Let those reviews to keep them coming, Queens, please.
Speaker 2 (07:21):
Do, because honestly, this is like a shameless plug. If
you love She's on the money. One of the best
ways you can support us is obviously sharing it with
your friends, but leaving a review or even hitting subscribe,
because the algorithm sees that people are subscribing and liking
this content, so they push it to more people that
they think might look like you, like, you know, data wise,
(07:43):
so that maybe we could get some more friends.
Speaker 4 (07:46):
And it's free, doesn't customate literally.
Speaker 2 (07:48):
Free money win, all right, Jessica, Money wins, Money wins
had confessions, all right.
Speaker 4 (07:56):
First, only think I've got money when from Rosa, who
said she used Flybys dollars to pay for her petrol,
so I tank feel up was free. Very clever. We
love that. Next, I've got a money loss, but toptually
a money win from Danny. Danny said money loss. I
lost my earrings down the drain. That's so stressful, very
stress Okay, jumped in there and said, have you opened
(08:17):
up the spend because there's a very good chance that
they're sitting in there, and it's relatively easy to do.
Spend is a little bit unners, which god true because
it's shaped like an asset like. Because it's flat, things
can often get caught there. So hopefully Daddy opens it
up and finds them sitting there waiting for her.
Speaker 3 (08:33):
Daddy Danny, I suspected, saying Danny either, okay, I just
want to make sure someone's into something.
Speaker 5 (08:42):
I was getting very excited.
Speaker 4 (08:43):
Next, I've got a money in from Erin who said
she got her birthday voucher from the body shop and
the product she wanted were on sale, so she didn't
have to pay anything. It was all free. We love that.
And then I've also got a money in from Fiona
who said she ordered some sheets. They didn't end up
having the color that she wanted in stock, so instead
she was able to order a different color, but they
honored the cheaper price. Okay, thank you, save your sell
(09:04):
one hundred and two dollars. Thank you for coming money, genuinely,
very much so. And then lastly this week, I've got
a money win from Amy who said she's heading overseas
later in the year and she's been keeping an eye
on a tour that she really wants to do, hoping
that it would go on sale, and it did. She
checked up eight hundred.
Speaker 2 (09:21):
Dollars I didn't even know went on sale. That's kind
of what I thought.
Speaker 4 (09:24):
I thought, Oh, that's a good little thing to know,
is you know, if you're doing like a kentiki or
a top deck or any other things, keep an eye
out for some price changes.
Speaker 3 (09:33):
We do.
Speaker 2 (09:34):
Indeed, great beck Ci ed, what have you got when
it comes to broke tips for us this week, So this.
Speaker 3 (09:40):
Week I've got first one comes from Courtney, who says,
my drive Hero is an app that tracks you're driving
and you earn money for speed and distraction.
Speaker 2 (09:49):
I'm assuming not for.
Speaker 4 (09:51):
Not speeding and not driving distractions.
Speaker 3 (09:53):
Yes, because in my head I'm like, I could have
been making so much money.
Speaker 5 (10:00):
Stricture always feeding. I'm just kidding, don't. Definitely don't do that.
Speaker 2 (10:03):
So basically you're.
Speaker 3 (10:04):
Getting paid to drive safely and can just cash it
out into your account. The free version does have ads,
but you can pay to remove them if you think
it's worthwhile.
Speaker 2 (10:13):
That's so such a good idea. That's actually really good money.
Speaker 4 (10:16):
Make money doing something you should be doing anyway, Yes, exactly.
Speaker 3 (10:22):
The next one comes from Kate, who says, rather than
chucking out the crusts at the end of a loaf
of bread, I freeze them in a bag together and
then use them for meals. I don't mind eating the crust.
With example, to dip soup, you can make.
Speaker 2 (10:34):
Creutons very out of mind and also grass lading my
child into thinking that that's the best bit special bread.
Only two bits you gonna have this or do you
think do you think Dad will get this? Do you
want it?
Speaker 4 (10:53):
I love it?
Speaker 2 (10:54):
That's so good, just like keeps the old Regon. I'm like,
crusts really.
Speaker 5 (10:59):
Aren't that different you and I are they?
Speaker 4 (11:01):
I completely disagree, But do you know what do you know?
Speaker 2 (11:04):
It's only the crust on like a wonder white that
I'm like, nah, I could pass. But the crust of
like a sour dough loaf that is valuable Wheelers, That
is good. That is the best bit. No, when you like, oh,
get a fresh loaf of bread, and then you like
get the crust, and then you add equal amounts of butter. Yeah, yeah,
a little sprinkle of salt.
Speaker 4 (11:24):
I got a little shiver just that.
Speaker 6 (11:27):
Anyway.
Speaker 3 (11:27):
Sorry, no, no, no, I mean but by that, I
mean like, I don't really think they make your hair
curly and all those kind of other myths. Got it
only get better.
Speaker 2 (11:34):
I wouldn't even think of that. I was just thinking
of my stomach.
Speaker 4 (11:38):
I was on a normal bit of bread, but a
crust on the end. You don't have French bage middle bit.
Speaker 3 (11:45):
Yeah, well, I just I don't think they're more nutritiously
It's okay if you don't want them anyway, my broke tip.
Speaker 2 (11:49):
Yes, this is probably silly one, but does it eat
the crusts? Because that would be silly to repeat it
broke tip.
Speaker 3 (11:56):
Are you know what I'm gonna say, It's kind of similar, okay,
and you'll maybe figure out why. So I was in
Kmart and I was like, you know, getting a clicking
collect and then I was like waiting and just like
looking around and you know those big like metal what
are they called, like cabinets.
Speaker 2 (12:10):
I guess I don't know where this is going, so
I have no idea what we wean.
Speaker 5 (12:14):
Well, it's like it's kind of like a cage, but
it's like open, it's like quite tall.
Speaker 2 (12:17):
It's like you know, there's like, oh yeah, shelves on it.
Yeah okay, yeah yeah.
Speaker 3 (12:20):
And there's always just like random things that I'd never
bothered to look at before. They're also in Woolworths, just
a random sections with like things that are like poorly
glad wrapped together, like duct tape together, and big stickers
with specials like.
Speaker 4 (12:32):
Britans and seconds, damage stock and stuff.
Speaker 3 (12:35):
And I was like, oh my god, I forgot this exists,
and so I wanted to like just this is not
what I'm suggesting, but if you have your eye on something,
just see if it's there, or see if it ends
up there. Just always check that part of kmart to
see what kind of specials you can get.
Speaker 5 (12:51):
There's so many cheap.
Speaker 2 (12:52):
Things, like a camera for like fifty cents.
Speaker 3 (12:53):
I was like, this is because I guess you can't
really sell it at full price if someone's returned it
and then the package looks really dodgy.
Speaker 2 (13:01):
Just like, just have a look and see what you
can find.
Speaker 5 (13:02):
I think it's great, and I'm not suggesting this, but
if you do return something and just.
Speaker 4 (13:07):
Come back and see later if it's on the rack,
and come back.
Speaker 5 (13:10):
For it if you really want to buy it.
Speaker 2 (13:12):
This reminds me and completely rogue. When I was in
grade nine, I used to work at the Rosebud Target
doesn't exist anymore, and someone I don't know how they
managed to, but like would sometimes get returns. I think
the target policy went way back when I was in
grade nine, was like, if you had the receipt, they
would do a return. Like I don't think there was
(13:32):
a time limit on it, because one time I got
a ferby when I was in grade nine and I
desperately wanted a Ferby when I was younger, like grade five,
me would have been frothing yeah, but I didn't, so
obviously I had to buy this one that got returned,
bought it for five cents.
Speaker 4 (13:47):
Oh my god.
Speaker 2 (13:49):
That's so that's a money win. And that was definitely
not a waste of money at all. I definitely got
a lot of value out of that Ferby.
Speaker 3 (14:00):
Yeah, yeah, yeah, anyway, and maybe bought it full priced,
returned it and then got it for five cents.
Speaker 2 (14:05):
Who could say, yeah, do you know what? I didn't,
but I should have. You should have. I should have
because that would have been gaming the system. Anyway, Let's
go to a really quick break because I want to
get into the juicy stuff we have been getting. I
would say, hounded by you guys asking us, and this
is a very valid question, should be be waiting to
lodge our tax returns? Because that twenty percent off? Like
(14:27):
you know how they're taking twenty percent off? Hex announcement
hasn't officially like rolled over. I've got an answer, don't worry.
You have to stick around for it though. And also
there's something juicy that you slid into our DMS about guys,
what do you do when you find out that your
colleague going is twenty five percent more than you for
the same damn job. But you found out because you
(14:47):
saw a pay slip and you shouldn't have seen their
play slip. So they don't know that you know, and
your boss doesn't know that you know. But you have
this information, and what do you do anyway? Don't go anywhere?
Speaker 4 (15:00):
Well, welcome back everybody. Let's take a listen to this
week's money dilemma.
Speaker 6 (15:06):
Hi.
Speaker 2 (15:07):
There, have you got a money dilemma you just can't solve?
The Sheese 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 (15:30):
Hi, guys, I've got a question for tax time. With
the upcoming legislation of the government coming in to reduce
our hextap by twenty percent, should we wait until that
hits before lodging our tax return. Let me know your thoughts.
Speaker 2 (15:47):
Thanks, It's a very good question.
Speaker 4 (15:48):
Because I feel like a lot of people forget that
you can't submit your tax return on July first, as
much as I would love to, because we don't have
our stuff together, Like, yeah, you need all your documents
and stuff, but I actually have no idea.
Speaker 2 (16:00):
And even if you're like the most organized person ever,
because Jessica Ricci, if she could, she would, but like,
I don't, as your employer, Jess even have my end
of year financials until thirty June happens, and then I
have to wait until my accountant does all of the
stuff that he needs to do to go Okay, cool,
We're going to like review Jess's pay and make sure
that she was paid what she was meant to pay,
(16:20):
and then we can give her her like yeah tax statement,
and that takes like two weeks. Of course, they'd have
to really annoying. I get it. I found him as well.
I'm very annoying. But you just can't do it immediately.
Is it rude if I just dive in and answer this,
because I feel like if I ask you, beg you'll
be like, I don't have a hex that I'm paying off,
And I do, but I don't have a degree.
Speaker 5 (16:42):
So but I didn't know that was a twenty percent
no idea.
Speaker 2 (16:45):
I really good rised you're getting twenty percent off your
hex I see anxiety, And yes, you don't have any
hextst don't because you're smarter than a lot of people.
Speaker 4 (16:54):
I just wasn't built for school. But I'm excited to
learn about what this means. I can tell my boyfriend
when I go home, because he have a lot of hextet.
Speaker 2 (17:01):
I also have a lot of hex stets. So you
best believe that this was in my interest and because
I love you. I also called the ato. Oh oh,
and you called the ato. You have to spend a
lot of time on whole time, so you'll better be grateful. Anyway,
I'm going to give you a little bit of background
(17:21):
on the twenty percent off legislation because beck you didn't
know about it, and I feel like some people in
our community would have been like, Oh, I've seen it,
but I don't know what it means. Do I have
to apply for it? No, you don't. It's automatic. So
we obviously went through an election recently, which is important.
I'll come to that in hot second. But Labor have
said that they will give us twenty percent off our hex.
(17:42):
A lot of people voted for them because that's a
really good deal and they were like, great, no worries.
They have also come out and said that that's actually
one of the first pieces of legislation they want to introduce.
Now they haven't done that yet, not because they're lazy,
but because they've been busy getting all of their ducks
in a row. They've been changing literally everybody who's been
(18:03):
in Parliament for this new government, and they actually haven't
even met yet. So their first meeting is on July
the twenty second, which is actually next week, and at
that point they have said this is actually a top
priority for us because we promised it and now we
need to deliver, which honestly, that doesn't always happen with
government now. I feel like sometimes they promise stuff and
(18:23):
then they're like, oh, yeah, so we said that, but
what we meant was so anyway, I'm excited about this
and this will be the first time that government sits
or Parliament sits since their election. And they have said
that they're going to apply twenty percent retrospectively to any
(18:45):
balance remaining in your account on the first of June,
so if you paid it off earlier this year. Sorry,
it's not going to apply to you. You have to
have been in the like, you have to have money
in your account. Essentially, you have to owe the money
on the first of June, and that is before indexation
was applied. Yeah, that's important because a lot of questions
(19:08):
that we got was, oh my god, are they dragging
this out and not giving me the twenty percent off
and then it's going to index and then I'll owe
more money, And yes, I'll get my twenty percent off,
but I'll get twenty percent off more money, which will
actually not be as good as if you had applied
it before indexation happened. So they are applying it before
indexation applied. I think that's pretty sexy, to be honest.
(19:30):
They didn't have to do that from my perspective. They
could have still given us our twenty percent off back. Sure, Like, Sorry,
it happened after that date and we would have had
to just swallow it. Yeah, right, shout out to the government.
Shout out that. Honestly, I see what you're doing. I've
got a lot of thoughts on other areas, but right
now you're doing very well here. Anything paid off before June. Sorry,
(19:50):
if you already did it, no discount, you're not getting
money back. That's just not going to happen. It's not
the way it works, I see. And let's be honest,
this legislation could take a few months to pass because
when the government proposes something, they're not going to sit
on the twenty second and be like tick box, no worries.
Do you want to just give them their money? Now,
there's a lot of background stuff that has to happen
(20:11):
to make that happen, and as with any legislation, there's,
honestly there's a possibility that lots of people in Parliament
could be like that's bullshit, we don't want that to happen. Yeah,
and then it doesn't pass at all and you don't
get your twenty percent. So we think that's very very
unlikely to happen. But as I said before, it is
(20:31):
a risk. Yeah. I called up the ATO for you
and also for me, and they said paying your hex
is actually about the threshold, not the balance. So the
threshold for the twenty twenty four to twenty twenty five
financial year, which is the line that's just passed, is
fifty four hundred and thirty five dollars, but for your balance,
(20:53):
even if you are paying it throughout the year, you've
ticked the box that you have a heck stet. So
like when you join a business like Becky would have
ticked the box to say, yeah, I have HEX, and
then your employee starts paying it off. It's already coming
out of your pay so that money is held, and
then the balance is actually calculated at the end of
financial year, which I don't think a lot of people know.
(21:13):
I sorry, they're collecting it, they don't actually pay it off,
and then at the end of the financial year they
do it in one lump.
Speaker 4 (21:19):
Some that's so interesting. Let's me and I suppose.
Speaker 2 (21:22):
Kind of I find it annoying because like I'm the
type of person and I'm like, ha, girl, you're just
holding my money. You want to check it? Yeah, well
I want to check it, but I also want it
paid off. I don't want things lauding over like if
I've gone and said anyway, I just other thoughts like sorry, sorry,
back on track. No, this is me getting off track.
I've just got thoughts and feelings. So the twenty percent
(21:43):
off would only be a factor in your tax return
if you're close to paying off your HEX and overpaid,
so like you were still paying it off and like
some people still do this, like they tick the box
to say they have HEX even when they don't have HEX.
And then the government goes and collects all of the
HEX and then you do your tax return and you
actually get all of that money back because there was
(22:05):
no HEX to pay off. And if you paid off
your HEX, let's pretend like you didn't really notice and
your HEX was quote paid off in January and you
were still contributing funds tax time, the government's going to
be like, oh, she stopped like this, she didn't know
usay anything after January. So they give you the money
that you paid to them back. Yeah, then obviously you
(22:26):
were owed. So in that case you'd get a return
money win. Otherwise, you are required to make the same
compulsory payments. You can't like withhold it from your employer
and say, hey, employer, can you not pay that like
I want it to be there. You are required to
make the same compulsory payment as dictated by the threshold
in the twenty four to twenty twenty five financial year,
(22:47):
not your balance. Yeah, so TLDR actually doesn't matter. Ah,
the government's going to just calculate it based on what
was in your account on the first of June, and
then they get a paid back. If they paid you back,
but you'd already paid it off on like the fifth
of June, you're going to getting a sweet refund if
you hadn't. It's going to just be off the amount
that was sitting in your account on the first of June.
(23:09):
So you don't need to do anything. You're going to
still be benefited. But if you are confused, or if
you are like, oh, the you mentioned the car spor
if like there's some wiggle room, talk to your accountant
and maybe they can go, oh, well, actually you are
one of the lucky ones that can X y Z yeah.
But for normal people like Beck and I, it doesn't
make a damn different.
Speaker 5 (23:29):
I see, if you're confused it you don't have an
accounting because I feel like I never had one.
Speaker 2 (23:32):
But she's on the money community is right there.
Speaker 5 (23:35):
That's true. But and also you can probably find information
on the ideo.
Speaker 2 (23:42):
Call the Bloody ato it actually it's wild. But like
people think that's crazy, you can just call them up.
It's crazy.
Speaker 5 (23:47):
It's crazy.
Speaker 2 (23:48):
You just call them up and ask them tax questions.
What do you do on Sundays? On your board? This
not Sundays. It's actually nine to five Monday to Friday.
Actually I believe it's eight till five. You can call
them earlier, like the whole way I give. You're bored.
I really want to talk to the ade O. You can, yeah,
And I have done that a lot of times for
content because like the APO website can sometimes like I'm
not saying it's wrong, but like they might be a
(24:10):
little bit vague and like this is a very specific
question and when this will be calculated, and like there's
not a web page on how that's calculated, right, so
I have to call someone up there you go.
Speaker 4 (24:21):
You don't threaten Victoria Divine with a good time.
Speaker 2 (24:25):
Anyway. Anyway, I feel like that was really fun. But
what's more fun is gossip. And I feel like genuinely
sometimes in our dms, you'll send like a DM and
I'm like, that is juicy, and I can't wait to
tell all of my friends. And then I posted on
our Instagram story because you guys are all my friends,
and then you chime in with your opinions. It's just
so fun because to me The best type of gossip
(24:47):
is not about people we know. It's like, I want
to hear about what your hairdresser's son.
Speaker 5 (24:51):
Did you know what I mean?
Speaker 2 (24:52):
Like the secondhands, small town gossip.
Speaker 4 (24:55):
Have you seen that? A deeply southern one? Oh? I
love her accent.
Speaker 2 (24:59):
Yeah, I'm not only obsessed with that, but like obsessed
with her stories. Anyway. Would you like to hear the
DM we got this week?
Speaker 4 (25:06):
Yes?
Speaker 5 (25:06):
Please, yes, please?
Speaker 2 (25:08):
This is going to piss you all off. Hey there,
I found one of my colleagues twenty twenty three pay
slips saved in our shared files. She obviously put it
there by accident.
Speaker 3 (25:19):
I was shocked.
Speaker 2 (25:21):
He was making twenty five percent more than me right
now but two years ago, so it was from twenty
twenty three. Oh since then, I know he's had another
pay rise because we've talked about it and we're in
the exact same role. But they're a male, they are
five years older than me. They do have an MBA.
(25:41):
I'm currently studying mine. I recently got a four and
a half percent rise, but it doesn't actually feel like
enough when I'm always taking on more responsibilities in the team.
I know experience matters, but how much of a gap
is actually fair? And how do I even bring this up?
Especially given how I found out, I'm feeling undervalued, unmotivated,
(26:05):
and honestly like I'm just being treated like cheap labor.
How would you guys approach this as well?
Speaker 5 (26:10):
Pay secrecy is not a thing anymore, which I am
cheering about. It should never not.
Speaker 2 (26:16):
But if it is in your contract right now, you
need to be very careful about what that looks like
because you have assigned contract with your employer, but it's
not allowed to be in future contracts and there's a
lot of round enforcement. But like, I don't want you
to be the first person to test that out and
have your employers see you. All right, So dumb the
(26:37):
whole pay secret, Yeah, I agree, dumb. It's such a
you will pay secrecy clause in if she's on the
money contract. It's just like, hey, we don't imagine you're like, hey,
V did you write this? Is so strange?
Speaker 3 (26:49):
But I think like you don't have to say, well
you got that information. I feel like I would just
be like, I don't know, I've found out, but I
know that you get paid more I did. I know
it's really dumb, but I just would never tell anyone
how I found out. All would you just go to
your colleague? I feel like, yeah, good to my colleague.
Speaker 2 (27:01):
I'm sorry you've got a shared drive with your colleague,
do you not.
Speaker 3 (27:04):
It's very disheartening. It's so disheartening that this is still happening.
And it's like, what's more disheartening is that, like I
just fear people don't take.
Speaker 5 (27:11):
It seriously enough.
Speaker 3 (27:12):
And like if you were to go to your boss,
who may or may not be a male, and said,
do you know your concerns are that he's probably getting
paid more because, let's be honest, probably because he's a man,
It's like, no one's gonna take that seriously. Is so
it's so tiring, it's so exhausting, it's so disheartening, and
I'm just like almost as a part of me that's like, well,
it's always going to be this way.
Speaker 5 (27:31):
It's so arbitrary. Men are not better than women. Women
are not better than men.
Speaker 3 (27:35):
We're all intellectually exactly same, unless we like one studied more,
one more educated, Like, it's all about the person, it's
not about the gender.
Speaker 5 (27:43):
It's just so why is it still a thing. I'm
so exhausted by it.
Speaker 3 (27:47):
But anyway, I think that I've also really hated that
that whole, Like, you know, salaries based of experience, Like,
the role is the role.
Speaker 5 (27:55):
You're still doing the same thing.
Speaker 3 (27:56):
The role doesn't change based on Like maybe at the
start might be like, let's see how fast you get
kind of like into it, but once you're in it,
you're doing the same day to day. It's the same thing.
It doesn't matter how much experience you have, it doesn't
matter how much education you have. You're doing the same role.
Your past should not even be looked at. So maybe
(28:17):
it's because of experience, maybe it's because of the NBA,
but it doesn't make you more or less valuable if
you're doing the exact same role. And sounds like you're
taking on more responsibilities too, So I'm like, you should
be getting paid the same. Sorry, you should be getting
paid the same. Anyway, I don't know how to go
about it.
Speaker 5 (28:33):
I think, talk to your assfit.
Speaker 2 (28:35):
What are they going to do?
Speaker 5 (28:36):
They probably might not take it seriously. I don't know.
It's so so silly.
Speaker 2 (28:40):
Yes, you find out that the other partnership's manager in
our business that does not exist gets paid twenty five
percent more than you and they have been for the
last two years. What are you doing?
Speaker 4 (28:49):
Oh, I would not be thrilled that much. I don't
think you even need to go to your colleague necessarily
because they do agree. It is a bit of an
awkward thing to bring up.
Speaker 2 (28:58):
Oh I, Actually it's not their fault most that fall.
Speaker 4 (29:00):
I accidentally saw your pay slip, And I will say
as much as yes, pay secrecy is in a thing,
like people still have a right to decide what information
they do and do not sh like I would hope,
like I would comfortably talk about my salary with anyone
on our team, but not everyone has that relationship with
their colleagues, and.
Speaker 2 (29:16):
Like you're allowed to be private about that. So yes, Kase,
secrecy is now illegal to put into contracts. But like Jesse,
if I said how much do you earn it, you
didn't want to tell me? You don't owe me anything. Absolutely,
you have the right to talk about it if you
want to. No one's going to reprimand you for it.
But like, honestly, sometimes you don't want to tell your
colleague what your income is or how hard you've worked,
(29:37):
or it's just nobody's business. And like, I know that
you guys might be like, but they you talk about
talking about it all the time, and I do, and
I think that you should be sharing that if you're
comfortable to do so.
Speaker 4 (29:49):
Yeah, I completely agree. So I think I would like
probably just bypass my colleague to be completely honest, and you're.
Speaker 2 (29:54):
String to my boss right in the door.
Speaker 4 (29:56):
Yeah, I'm not going to I'm kicking it down. I'm saying,
you me having a chat. And I agree with that,
Like I wouldn't. You don't need to tell them how
you know, you just know that's the important thing before
going in. I would be doing as I think we've
said this before, but like cross check your responsibilities against
their responsibilities. You know, you've said you're taking on a
lot of additional things. Perhaps that's happening for them as well.
Have as much information as you can going in.
Speaker 2 (30:16):
And this is really scary.
Speaker 4 (30:18):
Yeah, so have as much information going in and then say, hey,
can you please explain to me, Like I would kind
of put it on them and say, well, you've deemed
this person as you know, you're paying them this much more.
Can you explain to me what the reason for that is?
Because then it kind of puts the onus on them
to either say, oh, well, the NBA or they do
all this extra stuff or whatever, or did.
Speaker 2 (30:38):
You realize X, Y and Z is part of their
responsibilities and you go, oh my god, I had no idea.
Speaker 4 (30:42):
Like it kind of protects you a little bit, but
it also like theoretically, like if they can't justify it,
then they kind of look like an idiot and hopefully
that primes them to them go Okay, well, I think
the most reasonable thing to do is to match the salary.
Speaker 2 (30:54):
Yep, agreed. I feel like I've had a lot of
people in our community in this situation, and research is
going to be your best friend. Like research the role,
work out what's going on. Honestly, I'm a bit cut
and dry with things like this, Like if I found
out that someone was genuinely or I felt like they
were taking advantage of me, even if they gave me
(31:16):
a salary increase because I asked, I don't know how
i'd feel about them moving forward. I feel like my
mum always used to say this to me growing up,
but I'm too black and white. She's like, you can't
live in the gray, Victoria. You need to learn that
sometimes there's this gray area and like I've just never
been able to do it. So I feel like once
I've written somebody off, sorry you're done. And so for
(31:37):
me personally, i'd be like, Okay, cool, you clearly undervalue me.
I'm going to find a new job. Yeah, I'm going
to work out what the hell's going on, because even
if you enjoy the job, clearly they don't value you
in the same way that they're valuing your colleague. If
you are correct, Yeah, but yeah, having a conversation about
what you want to be paid, I mean I'd probably
just walk in and be like, hey, so I was
thinking about this role, what it's valued at dumb my research,
and I actually think it's worth to pretend that your
(31:59):
colleague get paid a hundred I think it's worth one
hundred grand. And I'd be keeping up the sleep like
on my sleeve that I know that my colleague gets
paid that. And when they say, oh, we can't afford it,
we can't. You know that's not what's in budget for
that role, you'd be like, Brett gets paid that, So
I just thought it was fair to match it.
Speaker 4 (32:13):
Are you guys get him with the hard stuff?
Speaker 2 (32:16):
Like can you imagine how mortifying that would be if
they're like trying to back track and be like, oh
sorry Beck thought that and you go, yeah, all right,
well Jess has that, so like, what do you mean
you've got budget for them but not me after agreeing
that they're the same role. Yeah, yeah, yeah, I don't
know if that's the right thing to go and do,
like in terms of backing somebody into a corner, but
I'm very much to hold your cards close to your
(32:37):
chest if you have some information that don't give them
the information straight up. Don't be like oh well I know,
and they'll be like, okay, cool, well now I know.
I'm like what I'm working with. Yeah, sorry, I'm going
to lead you down the garden path. Yeah, and then
when you tell me no, I'm going to be like, sorry,
this actually was more for.
Speaker 5 (32:56):
Me than for you.
Speaker 2 (32:58):
And so yeah, I would, I would trying to have
that conversation. But yeah, I just think go find.
Speaker 5 (33:03):
People that value you.
Speaker 2 (33:05):
Likely even if you think you're happy now, I can
almost guarantee that you'd be happy or somewhere else. Yeah,
I don't really if you can't leave a different story anyway,
Name and shame, because we want companies.
Speaker 5 (33:16):
We want employees to be scared to not pay.
Speaker 4 (33:20):
Yeah.
Speaker 2 (33:20):
Anyway, we asked the community. We said, if you found
out your colleague was earning twenty five percent more, but
you weren't meant to know, what would you do? Sixty
three percent of you said, obviously, I'd bring it up.
The pay gap is the issue. Nine percent of you
VDS and you said I'm starting job hunting, and eight
percent said I would say nothing. I wasn't meant to
say that. No boys in Queen, Yeah, seriously, sorry, do
(33:43):
you know what? I believe there is a reason for everything.
There is a reason you saw that.
Speaker 5 (33:48):
Yeah, definitely.
Speaker 4 (33:49):
Do you know what your.
Speaker 2 (33:50):
Colleague might know? Maybe what if your colleague was like,
don't know how to bring this up? I feel really awkward.
I'm going to save my payslip there so that Jess
finds it. Maybe they're an ally exactly. Anyway, is twenty
five percent more pay there if someone has more experience?
Thirty three percent said yeah, experience matters. The other thirty
(34:12):
three percent said no, not if it's like exactly the
same work. Twenty four percent said I think it's the NBA,
and ten percent said feels like a gender thing TDH.
I think it's a conversation. Yeah, yeah, yeah, I think
it's a massive conversation. We then went to the community
and said, guys, what is your two cents? And lord,
you had at least four. First person said, arm yourself
(34:35):
with market data and state your case to your manager. Okay,
just great, cheek it out of our dms. Next person said,
experience and qualifications matter, but twenty five percent difference in
the same role does seem like a stretch.
Speaker 4 (34:48):
Yeah.
Speaker 2 (34:49):
Someone else said, how would they feel if someone with
less experience and qualification was getting the same pay as them?
I don't care.
Speaker 4 (34:56):
Yeah, it's a good point to look at it from
the other side. But our person said that they the same.
Speaker 2 (35:01):
So it's I don't know if this is divisive to say,
but as an employer, I'm going to use just as
an example. You've worked for me for what five years,
nearly six terrifying. I've loved all of them in that
period of time. Yes, Jess doesn't have a degree. Yes,
there's been a lot of development in the role, more responsibilities.
Obviously she's also had pay rises, but in that time
(35:24):
she has gained a deep understanding. If she's on the money,
a deep understanding of being able to talk on my behalf,
trust responsibility. That's not just like, oh, someone comes in,
so let's say she's on the money somehow doubles overnight.
We need two partnerships managers. I can guarantee you right
now that the salary I would offer to market, and
(35:45):
I'm happy to be quoted on this would not be
just as salary. I see that makes sense because to
me right now, it's not about degrees, it's not about qualifications. Yes,
I'd be looking for that, and yes, the role would
be marketed as such like I'm not going to try
and underpay someone. That's not the case. Don't think anyone
that works for me would agree that that ever happens,
it would be market fair going rate. I'm not going
(36:07):
to pay them what Jess gets because Jess has that
five years of experience of deeply understand Like if Jess
answered my phone to a client, I would trust her
that she knows she could give my advice. She knows,
and I don't think that if someone came in with
like a full degree or whatever you need for that
role and they found out what Jess aren't, because Jess
(36:27):
gonna tell them. I don't care. I would very happily
have that conversation that no, they weren't being matched and
there's a reason for that. Yeah, it's a good reason,
and it's exactly and I think there's a good reason
for that, and maybe you could think about that. I'm
not saying that that's the case, but like, yes, they
might have the same amount of experience as you, but
are you saying you have ten years experience in the
industry and they've got ten years working for that particular company.
(36:49):
I see this, and I'm not saying that every company
is the same, because some roles are so like clinical
where you just do the job and it actually doesn't
matter how deeply you know the organization because there's actually
ten million employees. But for me, that's a very different situation,
and I think putting that on the table is like,
I don't know, maybe a thought through caring for sure. Anyway,
(37:09):
I'll do two more. Next person said, talk with her
union reps because it's possibly actually widespread, might not just
be you. And then the last one I'm going to
share is I think they changed laws so that companies
can't hide large pay gaps like this, and I think
that that's where you should be looking like, that's very true. Understanding.
Do they have like a pay secrecy thing in your contracts?
(37:32):
Where does that conversation come in? Have you asked your
managers about like, oh, what's this role value dat?
Speaker 1 (37:37):
What?
Speaker 2 (37:37):
Yeah? I think there's just lots of conversation to be happening.
But what I'm learning is one communication and two do
your researching. Go in there prepared. Absolutely, we're not brushing
it under the rug. No, what a good little chat, guys.
I've loved this, but unfortunately that is all we have
time for today. So you know what, We'll see you
right nearly on Monday morning for our money. Have a
(38:00):
beautiful weekend, guys, Hi, guys. Bye.
Speaker 6 (38:08):
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
(38:29):
your needs. Victoria Divine and She's on the Money are
authorized representatives of money sheper pty ltd ABN three two
one is six four nine two seven seven zero eight
AFSL four five one two eight nine
My name's Tasha Bamblet. I'm a proud First Nations woman
and I'm here to acknowledge country t Glenn Young Ganya, Niana,
Kaka yah y and beIN 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
Aberiginal people's land that we're gathering on today. Take pleasure
in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
(00:40):
bringing you the tools, knowledge and resources for you to thrive.
Speaker 2 (00:45):
She's on the Money. She's on the Money. Hello and welcome.
(01:09):
She's on the Money, the podcast that makes finance fun
or personal finance fun.
Speaker 3 (01:14):
Well.
Speaker 2 (01:14):
I don't know what I meant to say, but that
we do it, especially on Fridays. Right It's our favorite
day of the week because I get to get my
team together and then what we do is we celebrate
you ow incredible. She's on the money community, Miss just Grici,
she's back and she's going to be sharing our favorite
money wins. Miss beck Sayeed is going to be sharing
her broke tips, and we're going to be helping to
(01:34):
answer a juicy money dilemma, which this week is all
about whether you should wait to lodge your tax return
until after the official twenty percent off Hex announcement, which
I've had a lot of dms about, and something that
you slid into our DMS legitimately about was what should
you do if you found out that your colleague is
(01:54):
earning twenty five percent more than you because you saw
their pay slip and you weren't meant to you do
the same. Damn job.
Speaker 4 (02:02):
Oh I hate it.
Speaker 2 (02:04):
But before we get there, how are your weeks? It's
been lovely? When did I do?
Speaker 4 (02:08):
Oh? I saw Beetlejuice. I know we spoke about that
a few weeks ago. It was wonderful. Highly recommend it
to anyone. I do. I like it. I actually think
you would because it's it's very comedy infused, like it's
not a traditional musical, and there's like lots going on,
like there's just all this stuff like I don't want
to spoil it, but like, lots of things happen, but
(02:28):
it's like fun, it's very fun. Oh my god. The
two leads were unbelievably talented. I would highly recommend it.
They were doing ninety nine dollar tickets, so okay, okay,
money win, money win.
Speaker 1 (02:38):
For you guys.
Speaker 4 (02:39):
There.
Speaker 2 (02:39):
It's a musical.
Speaker 4 (02:40):
It is a musical, Okay, okay. I haven't seen the movie,
so you know, I don't think you have to have
seen the movie to appreciate it.
Speaker 5 (02:45):
Oh that's good to know.
Speaker 2 (02:46):
I also haven't seen the movie.
Speaker 4 (02:47):
Maybe we can watch it together.
Speaker 2 (02:49):
I'm more than welcome or like, I welcome the idea
of watching it together. But I'm so boring that, Like
I'm not a movie girl. I'm a reality TV girl.
And even then I have to scroll on my phone. Yeah,
like I just I wish I was called like just
a got preatchy.
Speaker 5 (03:03):
Culture.
Speaker 2 (03:04):
How was Yeah, I'm not culture. How was your week back? Yeah?
It was nice, it was chill.
Speaker 3 (03:10):
It's I've been like live love laughing, yeah, live love
laughing and on and off sick for like a million years,
gone through it be gone. You know, sometimes you just
just be like that, which is totally fine because I
feel like I feel like my house is also kind
of sick, so I feel like that's yeah, just like
you just reinfect each other. Yeah, exactly exactly, So we're
(03:32):
in this like cycle right now. But it's also just
been really cozy.
Speaker 2 (03:35):
And nice and and yeah, just just loving life. What
about VD No, honestly also loving life. I didn't grow
to beetle Juice. A lot of the team did, though.
I feel like you rallied the troops and you were
like team outing, and I was like, how fun back.
Speaker 3 (03:51):
Do you know?
Speaker 2 (03:51):
I was a little bit jealous though, because like everyone
on the team has come back and they're like, oh,
it was really good, and I'm like, was it it
mus be nice? Anyway?
Speaker 3 (03:59):
It was.
Speaker 2 (04:00):
Yeah, it was a busy week, a good week. I
feel like since thirty June, as you guys know, also
run a finance company, I've been able to have a
little bit more of a breather, which has been nice
to like take a step back, take a breath. I
have been sharing on my own social media actually at
the moment that I'm selling my house, and so that's
(04:20):
just keeping us quite chaotic, like because we're trying to
pack up the house to move. But then we're also
in the process of working out, well which furniture stays
in the house for it to like be styled up
and look really nice to sell. Which furniture do we
need to get rid of? So there's like a process
of like what do we move out of the house,
what don't we where do we put it? What does
that look like?
Speaker 4 (04:40):
Seal it? What do we do with it?
Speaker 1 (04:41):
Yeah?
Speaker 4 (04:42):
Do we sell it?
Speaker 2 (04:42):
Do we keep it?
Speaker 3 (04:43):
You know?
Speaker 2 (04:44):
What would a new house needs? You know what I mean?
Just like all of these things. And then also I
have a baby, and then we've got like three pets,
which is driving the reason. So for those of you
playing along at home, I'm selling our house because we
want to upgrade our house at some point soon and
we this is again very privileged to have this option.
I own a second house on the Mornington Peninsula, and
(05:04):
my husband and I are moving there while we sell
our primary residence because I just cannot fathom the idea
of working full time, having a one and a half
year old, three pets, and doing open for home inspections,
because like I best, I promise you if you think
my home is beautiful, all the time, you are wrong.
(05:26):
There is duplo from I don't even know where all
this duplow came from. It is everywhere, it does, and
like duplo, it's like the bigger.
Speaker 5 (05:37):
Version of Lego, Like.
Speaker 2 (05:40):
Yep, I've got a train track running under my couch
at the moment. Like there's just everything everywhere. And this
morning when I got in the shower, my husband had
been up for a few hours before me, there was
half a banana just sitting on the floor in the
shower waiting for where did that come from? And it
turns out that my husband had given our baby a banana,
(06:01):
and my husband thought that the baby ate at all
at that and Harvey was like, oh, I was just
storing it in the shower. So later anyway, So like
life is chaos. It is good, but it is Yeah,
it's really stressful selling your house. So anyway, the plug
there was I'm sharing the whole process of selling my house.
As you guys know, I work in the property space already,
and I just feel like there's not enough transparency of like, well,
(06:24):
what does it cost to sell your house? How do
you prepare for that? Like, also, how are we buying
a new house? What will that look like? And like, yeah,
I think the transparency hopefully will be welcomed fantastic. Anyway,
I would like to read you guys a five star
review before we do like money wins and broke Tips.
(06:45):
Would that be okay?
Speaker 3 (06:46):
Yes?
Speaker 5 (06:46):
Please?
Speaker 4 (06:46):
I would love that. Okay.
Speaker 2 (06:47):
So this one's from Amy Lee Lauren cute name. I
don't know if her name's amy Lee Lauren or Lauren
is her surname. I've spent a long time thinking about
this because like, girl, are you related to Ralph Lauren?
Is that what it is?
Speaker 4 (06:59):
Lovely?
Speaker 2 (07:00):
Anyway? She says Deep Dives are the best we know,
don't we? She says, my favorite episodes are the Deep Dives.
The three girls always keep me super engaged and I
love to learn new things. Oh, I just thought that
was a really short but sweet one.
Speaker 4 (07:16):
So thank you Amy. Let those reviews to keep them coming, Queens, please.
Speaker 2 (07:21):
Do, because honestly, this is like a shameless plug. If
you love She's on the money. One of the best
ways you can support us is obviously sharing it with
your friends, but leaving a review or even hitting subscribe,
because the algorithm sees that people are subscribing and liking
this content, so they push it to more people that
they think might look like you, like, you know, data wise,
(07:43):
so that maybe we could get some more friends.
Speaker 4 (07:46):
And it's free, doesn't customate literally.
Speaker 2 (07:48):
Free money win, all right, Jessica, Money wins, Money wins
had confessions, all right.
Speaker 4 (07:56):
First, only think I've got money when from Rosa, who
said she used Flybys dollars to pay for her petrol,
so I tank feel up was free. Very clever. We
love that. Next, I've got a money loss, but toptually
a money win from Danny. Danny said money loss. I
lost my earrings down the drain. That's so stressful, very
stress Okay, jumped in there and said, have you opened
(08:17):
up the spend because there's a very good chance that
they're sitting in there, and it's relatively easy to do.
Spend is a little bit unners, which god true because
it's shaped like an asset like. Because it's flat, things
can often get caught there. So hopefully Daddy opens it
up and finds them sitting there waiting for her.
Speaker 3 (08:33):
Daddy Danny, I suspected, saying Danny either, okay, I just
want to make sure someone's into something.
Speaker 5 (08:42):
I was getting very excited.
Speaker 4 (08:43):
Next, I've got a money in from Erin who said
she got her birthday voucher from the body shop and
the product she wanted were on sale, so she didn't
have to pay anything. It was all free. We love that.
And then I've also got a money in from Fiona
who said she ordered some sheets. They didn't end up
having the color that she wanted in stock, so instead
she was able to order a different color, but they
honored the cheaper price. Okay, thank you, save your sell
(09:04):
one hundred and two dollars. Thank you for coming money, genuinely,
very much so. And then lastly this week, I've got
a money win from Amy who said she's heading overseas
later in the year and she's been keeping an eye
on a tour that she really wants to do, hoping
that it would go on sale, and it did. She
checked up eight hundred.
Speaker 2 (09:21):
Dollars I didn't even know went on sale. That's kind
of what I thought.
Speaker 4 (09:24):
I thought, Oh, that's a good little thing to know,
is you know, if you're doing like a kentiki or
a top deck or any other things, keep an eye
out for some price changes.
Speaker 3 (09:33):
We do.
Speaker 2 (09:34):
Indeed, great beck Ci ed, what have you got when
it comes to broke tips for us this week, So this.
Speaker 3 (09:40):
Week I've got first one comes from Courtney, who says,
my drive Hero is an app that tracks you're driving
and you earn money for speed and distraction.
Speaker 2 (09:49):
I'm assuming not for.
Speaker 4 (09:51):
Not speeding and not driving distractions.
Speaker 3 (09:53):
Yes, because in my head I'm like, I could have
been making so much money.
Speaker 5 (10:00):
Stricture always feeding. I'm just kidding, don't. Definitely don't do that.
Speaker 2 (10:03):
So basically you're.
Speaker 3 (10:04):
Getting paid to drive safely and can just cash it
out into your account. The free version does have ads,
but you can pay to remove them if you think
it's worthwhile.
Speaker 2 (10:13):
That's so such a good idea. That's actually really good money.
Speaker 4 (10:16):
Make money doing something you should be doing anyway, Yes, exactly.
Speaker 3 (10:22):
The next one comes from Kate, who says, rather than
chucking out the crusts at the end of a loaf
of bread, I freeze them in a bag together and
then use them for meals. I don't mind eating the crust.
With example, to dip soup, you can make.
Speaker 2 (10:34):
Creutons very out of mind and also grass lading my
child into thinking that that's the best bit special bread.
Only two bits you gonna have this or do you
think do you think Dad will get this? Do you
want it?
Speaker 4 (10:53):
I love it?
Speaker 2 (10:54):
That's so good, just like keeps the old Regon. I'm like,
crusts really.
Speaker 5 (10:59):
Aren't that different you and I are they?
Speaker 4 (11:01):
I completely disagree, But do you know what do you know?
Speaker 2 (11:04):
It's only the crust on like a wonder white that
I'm like, nah, I could pass. But the crust of
like a sour dough loaf that is valuable Wheelers, That
is good. That is the best bit. No, when you like, oh,
get a fresh loaf of bread, and then you like
get the crust, and then you add equal amounts of butter. Yeah, yeah,
a little sprinkle of salt.
Speaker 4 (11:24):
I got a little shiver just that.
Speaker 6 (11:27):
Anyway.
Speaker 3 (11:27):
Sorry, no, no, no, I mean but by that, I
mean like, I don't really think they make your hair
curly and all those kind of other myths. Got it
only get better.
Speaker 2 (11:34):
I wouldn't even think of that. I was just thinking
of my stomach.
Speaker 4 (11:38):
I was on a normal bit of bread, but a
crust on the end. You don't have French bage middle bit.
Speaker 3 (11:45):
Yeah, well, I just I don't think they're more nutritiously
It's okay if you don't want them anyway, my broke tip.
Speaker 2 (11:49):
Yes, this is probably silly one, but does it eat
the crusts? Because that would be silly to repeat it
broke tip.
Speaker 3 (11:56):
Are you know what I'm gonna say, It's kind of similar, okay,
and you'll maybe figure out why. So I was in
Kmart and I was like, you know, getting a clicking
collect and then I was like waiting and just like
looking around and you know those big like metal what
are they called, like cabinets.
Speaker 2 (12:10):
I guess I don't know where this is going, so
I have no idea what we wean.
Speaker 5 (12:14):
Well, it's like it's kind of like a cage, but
it's like open, it's like quite tall.
Speaker 2 (12:17):
It's like you know, there's like, oh yeah, shelves on it.
Yeah okay, yeah yeah.
Speaker 3 (12:20):
And there's always just like random things that I'd never
bothered to look at before. They're also in Woolworths, just
a random sections with like things that are like poorly
glad wrapped together, like duct tape together, and big stickers
with specials like.
Speaker 4 (12:32):
Britans and seconds, damage stock and stuff.
Speaker 3 (12:35):
And I was like, oh my god, I forgot this exists,
and so I wanted to like just this is not
what I'm suggesting, but if you have your eye on something,
just see if it's there, or see if it ends
up there. Just always check that part of kmart to
see what kind of specials you can get.
Speaker 5 (12:51):
There's so many cheap.
Speaker 2 (12:52):
Things, like a camera for like fifty cents.
Speaker 3 (12:53):
I was like, this is because I guess you can't
really sell it at full price if someone's returned it
and then the package looks really dodgy.
Speaker 2 (13:01):
Just like, just have a look and see what you
can find.
Speaker 5 (13:02):
I think it's great, and I'm not suggesting this, but
if you do return something and just.
Speaker 4 (13:07):
Come back and see later if it's on the rack,
and come back.
Speaker 5 (13:10):
For it if you really want to buy it.
Speaker 2 (13:12):
This reminds me and completely rogue. When I was in
grade nine, I used to work at the Rosebud Target
doesn't exist anymore, and someone I don't know how they
managed to, but like would sometimes get returns. I think
the target policy went way back when I was in
grade nine, was like, if you had the receipt, they
would do a return. Like I don't think there was
(13:32):
a time limit on it, because one time I got
a ferby when I was in grade nine and I
desperately wanted a Ferby when I was younger, like grade five,
me would have been frothing yeah, but I didn't, so
obviously I had to buy this one that got returned,
bought it for five cents.
Speaker 4 (13:47):
Oh my god.
Speaker 2 (13:49):
That's so that's a money win. And that was definitely
not a waste of money at all. I definitely got
a lot of value out of that Ferby.
Speaker 3 (14:00):
Yeah, yeah, yeah, anyway, and maybe bought it full priced,
returned it and then got it for five cents.
Speaker 2 (14:05):
Who could say, yeah, do you know what? I didn't,
but I should have. You should have. I should have
because that would have been gaming the system. Anyway, Let's
go to a really quick break because I want to
get into the juicy stuff we have been getting. I
would say, hounded by you guys asking us, and this
is a very valid question, should be be waiting to
lodge our tax returns? Because that twenty percent off? Like
(14:27):
you know how they're taking twenty percent off? Hex announcement
hasn't officially like rolled over. I've got an answer, don't worry.
You have to stick around for it though. And also
there's something juicy that you slid into our DMS about guys,
what do you do when you find out that your
colleague going is twenty five percent more than you for
the same damn job. But you found out because you
(14:47):
saw a pay slip and you shouldn't have seen their
play slip. So they don't know that you know, and
your boss doesn't know that you know. But you have
this information, and what do you do anyway? Don't go anywhere?
Speaker 4 (15:00):
Well, welcome back everybody. Let's take a listen to this
week's money dilemma.
Speaker 6 (15:06):
Hi.
Speaker 2 (15:07):
There, have you got a money dilemma you just can't solve?
The Sheese 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 (15:30):
Hi, guys, I've got a question for tax time. With
the upcoming legislation of the government coming in to reduce
our hextap by twenty percent, should we wait until that
hits before lodging our tax return. Let me know your thoughts.
Speaker 2 (15:47):
Thanks, It's a very good question.
Speaker 4 (15:48):
Because I feel like a lot of people forget that
you can't submit your tax return on July first, as
much as I would love to, because we don't have
our stuff together, Like, yeah, you need all your documents
and stuff, but I actually have no idea.
Speaker 2 (16:00):
And even if you're like the most organized person ever,
because Jessica Ricci, if she could, she would, but like,
I don't, as your employer, Jess even have my end
of year financials until thirty June happens, and then I
have to wait until my accountant does all of the
stuff that he needs to do to go Okay, cool,
We're going to like review Jess's pay and make sure
that she was paid what she was meant to pay,
(16:20):
and then we can give her her like yeah tax statement,
and that takes like two weeks. Of course, they'd have
to really annoying. I get it. I found him as well.
I'm very annoying. But you just can't do it immediately.
Is it rude if I just dive in and answer this,
because I feel like if I ask you, beg you'll
be like, I don't have a hex that I'm paying off,
And I do, but I don't have a degree.
Speaker 5 (16:42):
So but I didn't know that was a twenty percent
no idea.
Speaker 2 (16:45):
I really good rised you're getting twenty percent off your
hex I see anxiety, And yes, you don't have any
hextst don't because you're smarter than a lot of people.
Speaker 4 (16:54):
I just wasn't built for school. But I'm excited to
learn about what this means. I can tell my boyfriend
when I go home, because he have a lot of hextet.
Speaker 2 (17:01):
I also have a lot of hex stets. So you
best believe that this was in my interest and because
I love you. I also called the ato. Oh oh,
and you called the ato. You have to spend a
lot of time on whole time, so you'll better be grateful. Anyway,
I'm going to give you a little bit of background
(17:21):
on the twenty percent off legislation because beck you didn't
know about it, and I feel like some people in
our community would have been like, Oh, I've seen it,
but I don't know what it means. Do I have
to apply for it? No, you don't. It's automatic. So
we obviously went through an election recently, which is important.
I'll come to that in hot second. But Labor have
said that they will give us twenty percent off our hex.
(17:42):
A lot of people voted for them because that's a
really good deal and they were like, great, no worries.
They have also come out and said that that's actually
one of the first pieces of legislation they want to introduce.
Now they haven't done that yet, not because they're lazy,
but because they've been busy getting all of their ducks
in a row. They've been changing literally everybody who's been
(18:03):
in Parliament for this new government, and they actually haven't
even met yet. So their first meeting is on July
the twenty second, which is actually next week, and at
that point they have said this is actually a top
priority for us because we promised it and now we
need to deliver, which honestly, that doesn't always happen with
government now. I feel like sometimes they promise stuff and
(18:23):
then they're like, oh, yeah, so we said that, but
what we meant was so anyway, I'm excited about this
and this will be the first time that government sits
or Parliament sits since their election. And they have said
that they're going to apply twenty percent retrospectively to any
(18:45):
balance remaining in your account on the first of June,
so if you paid it off earlier this year. Sorry,
it's not going to apply to you. You have to
have been in the like, you have to have money
in your account. Essentially, you have to owe the money
on the first of June, and that is before indexation
was applied. Yeah, that's important because a lot of questions
(19:08):
that we got was, oh my god, are they dragging
this out and not giving me the twenty percent off
and then it's going to index and then I'll owe
more money, And yes, I'll get my twenty percent off,
but I'll get twenty percent off more money, which will
actually not be as good as if you had applied
it before indexation happened. So they are applying it before
indexation applied. I think that's pretty sexy, to be honest.
(19:30):
They didn't have to do that from my perspective. They
could have still given us our twenty percent off back. Sure, Like, Sorry,
it happened after that date and we would have had
to just swallow it. Yeah, right, shout out to the government.
Shout out that. Honestly, I see what you're doing. I've
got a lot of thoughts on other areas, but right
now you're doing very well here. Anything paid off before June. Sorry,
(19:50):
if you already did it, no discount, you're not getting
money back. That's just not going to happen. It's not
the way it works, I see. And let's be honest,
this legislation could take a few months to pass because
when the government proposes something, they're not going to sit
on the twenty second and be like tick box, no worries.
Do you want to just give them their money? Now,
there's a lot of background stuff that has to happen
(20:11):
to make that happen, and as with any legislation, there's,
honestly there's a possibility that lots of people in Parliament
could be like that's bullshit, we don't want that to happen. Yeah,
and then it doesn't pass at all and you don't
get your twenty percent. So we think that's very very
unlikely to happen. But as I said before, it is
(20:31):
a risk. Yeah. I called up the ATO for you
and also for me, and they said paying your hex
is actually about the threshold, not the balance. So the
threshold for the twenty twenty four to twenty twenty five
financial year, which is the line that's just passed, is
fifty four hundred and thirty five dollars, but for your balance,
(20:53):
even if you are paying it throughout the year, you've
ticked the box that you have a heck stet. So
like when you join a business like Becky would have
ticked the box to say, yeah, I have HEX, and
then your employee starts paying it off. It's already coming
out of your pay so that money is held, and
then the balance is actually calculated at the end of
financial year, which I don't think a lot of people know.
(21:13):
I sorry, they're collecting it, they don't actually pay it off,
and then at the end of the financial year they
do it in one lump.
Speaker 4 (21:19):
Some that's so interesting. Let's me and I suppose.
Speaker 2 (21:22):
Kind of I find it annoying because like I'm the
type of person and I'm like, ha, girl, you're just
holding my money. You want to check it? Yeah, well
I want to check it, but I also want it
paid off. I don't want things lauding over like if
I've gone and said anyway, I just other thoughts like sorry, sorry,
back on track. No, this is me getting off track.
I've just got thoughts and feelings. So the twenty percent
(21:43):
off would only be a factor in your tax return
if you're close to paying off your HEX and overpaid,
so like you were still paying it off and like
some people still do this, like they tick the box
to say they have HEX even when they don't have HEX.
And then the government goes and collects all of the
HEX and then you do your tax return and you
actually get all of that money back because there was
(22:05):
no HEX to pay off. And if you paid off
your HEX, let's pretend like you didn't really notice and
your HEX was quote paid off in January and you
were still contributing funds tax time, the government's going to
be like, oh, she stopped like this, she didn't know
usay anything after January. So they give you the money
that you paid to them back. Yeah, then obviously you
(22:26):
were owed. So in that case you'd get a return
money win. Otherwise, you are required to make the same
compulsory payments. You can't like withhold it from your employer
and say, hey, employer, can you not pay that like
I want it to be there. You are required to
make the same compulsory payment as dictated by the threshold
in the twenty four to twenty twenty five financial year,
(22:47):
not your balance. Yeah, so TLDR actually doesn't matter. Ah,
the government's going to just calculate it based on what
was in your account on the first of June, and
then they get a paid back. If they paid you back,
but you'd already paid it off on like the fifth
of June, you're going to getting a sweet refund if
you hadn't. It's going to just be off the amount
that was sitting in your account on the first of June.
(23:09):
So you don't need to do anything. You're going to
still be benefited. But if you are confused, or if
you are like, oh, the you mentioned the car spor
if like there's some wiggle room, talk to your accountant
and maybe they can go, oh, well, actually you are
one of the lucky ones that can X y Z yeah.
But for normal people like Beck and I, it doesn't
make a damn different.
Speaker 5 (23:29):
I see, if you're confused it you don't have an
accounting because I feel like I never had one.
Speaker 2 (23:32):
But she's on the money community is right there.
Speaker 5 (23:35):
That's true. But and also you can probably find information
on the ideo.
Speaker 2 (23:42):
Call the Bloody ato it actually it's wild. But like
people think that's crazy, you can just call them up.
It's crazy.
Speaker 5 (23:47):
It's crazy.
Speaker 2 (23:48):
You just call them up and ask them tax questions.
What do you do on Sundays? On your board? This
not Sundays. It's actually nine to five Monday to Friday.
Actually I believe it's eight till five. You can call
them earlier, like the whole way I give. You're bored.
I really want to talk to the ade O. You can, yeah,
And I have done that a lot of times for
content because like the APO website can sometimes like I'm
not saying it's wrong, but like they might be a
(24:10):
little bit vague and like this is a very specific
question and when this will be calculated, and like there's
not a web page on how that's calculated, right, so
I have to call someone up there you go.
Speaker 4 (24:21):
You don't threaten Victoria Divine with a good time.
Speaker 2 (24:25):
Anyway. Anyway, I feel like that was really fun. But
what's more fun is gossip. And I feel like genuinely
sometimes in our dms, you'll send like a DM and
I'm like, that is juicy, and I can't wait to
tell all of my friends. And then I posted on
our Instagram story because you guys are all my friends,
and then you chime in with your opinions. It's just
so fun because to me The best type of gossip
(24:47):
is not about people we know. It's like, I want
to hear about what your hairdresser's son.
Speaker 5 (24:51):
Did you know what I mean?
Speaker 2 (24:52):
Like the secondhands, small town gossip.
Speaker 4 (24:55):
Have you seen that? A deeply southern one? Oh? I
love her accent.
Speaker 2 (24:59):
Yeah, I'm not only obsessed with that, but like obsessed
with her stories. Anyway. Would you like to hear the
DM we got this week?
Speaker 4 (25:06):
Yes?
Speaker 5 (25:06):
Please, yes, please?
Speaker 2 (25:08):
This is going to piss you all off. Hey there,
I found one of my colleagues twenty twenty three pay
slips saved in our shared files. She obviously put it
there by accident.
Speaker 3 (25:19):
I was shocked.
Speaker 2 (25:21):
He was making twenty five percent more than me right
now but two years ago, so it was from twenty
twenty three. Oh since then, I know he's had another
pay rise because we've talked about it and we're in
the exact same role. But they're a male, they are
five years older than me. They do have an MBA.
(25:41):
I'm currently studying mine. I recently got a four and
a half percent rise, but it doesn't actually feel like
enough when I'm always taking on more responsibilities in the team.
I know experience matters, but how much of a gap
is actually fair? And how do I even bring this up?
Especially given how I found out, I'm feeling undervalued, unmotivated,
(26:05):
and honestly like I'm just being treated like cheap labor.
How would you guys approach this as well?
Speaker 5 (26:10):
Pay secrecy is not a thing anymore, which I am
cheering about. It should never not.
Speaker 2 (26:16):
But if it is in your contract right now, you
need to be very careful about what that looks like
because you have assigned contract with your employer, but it's
not allowed to be in future contracts and there's a
lot of round enforcement. But like, I don't want you
to be the first person to test that out and
have your employers see you. All right, So dumb the
(26:37):
whole pay secret, Yeah, I agree, dumb. It's such a
you will pay secrecy clause in if she's on the
money contract. It's just like, hey, we don't imagine you're like, hey,
V did you write this? Is so strange?
Speaker 3 (26:49):
But I think like you don't have to say, well
you got that information. I feel like I would just
be like, I don't know, I've found out, but I
know that you get paid more I did. I know
it's really dumb, but I just would never tell anyone
how I found out. All would you just go to
your colleague? I feel like, yeah, good to my colleague.
Speaker 2 (27:01):
I'm sorry you've got a shared drive with your colleague,
do you not.
Speaker 3 (27:04):
It's very disheartening. It's so disheartening that this is still happening.
And it's like, what's more disheartening is that, like I
just fear people don't take.
Speaker 5 (27:11):
It seriously enough.
Speaker 3 (27:12):
And like if you were to go to your boss,
who may or may not be a male, and said,
do you know your concerns are that he's probably getting
paid more because, let's be honest, probably because he's a man,
It's like, no one's gonna take that seriously. Is so
it's so tiring, it's so exhausting, it's so disheartening, and
I'm just like almost as a part of me that's like, well,
it's always going to be this way.
Speaker 5 (27:31):
It's so arbitrary. Men are not better than women. Women
are not better than men.
Speaker 3 (27:35):
We're all intellectually exactly same, unless we like one studied more,
one more educated, Like, it's all about the person, it's
not about the gender.
Speaker 5 (27:43):
It's just so why is it still a thing. I'm
so exhausted by it.
Speaker 3 (27:47):
But anyway, I think that I've also really hated that
that whole, Like, you know, salaries based of experience, Like,
the role is the role.
Speaker 5 (27:55):
You're still doing the same thing.
Speaker 3 (27:56):
The role doesn't change based on Like maybe at the
start might be like, let's see how fast you get
kind of like into it, but once you're in it,
you're doing the same day to day. It's the same thing.
It doesn't matter how much experience you have, it doesn't
matter how much education you have. You're doing the same role.
Your past should not even be looked at. So maybe
(28:17):
it's because of experience, maybe it's because of the NBA,
but it doesn't make you more or less valuable if
you're doing the exact same role. And sounds like you're
taking on more responsibilities too, So I'm like, you should
be getting paid the same. Sorry, you should be getting
paid the same. Anyway, I don't know how to go
about it.
Speaker 5 (28:33):
I think, talk to your assfit.
Speaker 2 (28:35):
What are they going to do?
Speaker 5 (28:36):
They probably might not take it seriously. I don't know.
It's so so silly.
Speaker 2 (28:40):
Yes, you find out that the other partnership's manager in
our business that does not exist gets paid twenty five
percent more than you and they have been for the
last two years. What are you doing?
Speaker 4 (28:49):
Oh, I would not be thrilled that much. I don't
think you even need to go to your colleague necessarily
because they do agree. It is a bit of an
awkward thing to bring up.
Speaker 2 (28:58):
Oh I, Actually it's not their fault most that fall.
Speaker 4 (29:00):
I accidentally saw your pay slip, And I will say
as much as yes, pay secrecy is in a thing,
like people still have a right to decide what information
they do and do not sh like I would hope,
like I would comfortably talk about my salary with anyone
on our team, but not everyone has that relationship with
their colleagues, and.
Speaker 2 (29:16):
Like you're allowed to be private about that. So yes, Kase,
secrecy is now illegal to put into contracts. But like Jesse,
if I said how much do you earn it, you
didn't want to tell me? You don't owe me anything. Absolutely,
you have the right to talk about it if you
want to. No one's going to reprimand you for it.
But like, honestly, sometimes you don't want to tell your
colleague what your income is or how hard you've worked,
(29:37):
or it's just nobody's business. And like, I know that
you guys might be like, but they you talk about
talking about it all the time, and I do, and
I think that you should be sharing that if you're
comfortable to do so.
Speaker 4 (29:49):
Yeah, I completely agree. So I think I would like
probably just bypass my colleague to be completely honest, and you're.
Speaker 2 (29:54):
String to my boss right in the door.
Speaker 4 (29:56):
Yeah, I'm not going to I'm kicking it down. I'm saying,
you me having a chat. And I agree with that,
Like I wouldn't. You don't need to tell them how
you know, you just know that's the important thing before
going in. I would be doing as I think we've
said this before, but like cross check your responsibilities against
their responsibilities. You know, you've said you're taking on a
lot of additional things. Perhaps that's happening for them as well.
Have as much information as you can going in.
Speaker 2 (30:16):
And this is really scary.
Speaker 4 (30:18):
Yeah, so have as much information going in and then say, hey,
can you please explain to me, Like I would kind
of put it on them and say, well, you've deemed
this person as you know, you're paying them this much more.
Can you explain to me what the reason for that is?
Because then it kind of puts the onus on them
to either say, oh, well, the NBA or they do
all this extra stuff or whatever, or did.
Speaker 2 (30:38):
You realize X, Y and Z is part of their
responsibilities and you go, oh my god, I had no idea.
Speaker 4 (30:42):
Like it kind of protects you a little bit, but
it also like theoretically, like if they can't justify it,
then they kind of look like an idiot and hopefully
that primes them to them go Okay, well, I think
the most reasonable thing to do is to match the salary.
Speaker 2 (30:54):
Yep, agreed. I feel like I've had a lot of
people in our community in this situation, and research is
going to be your best friend. Like research the role,
work out what's going on. Honestly, I'm a bit cut
and dry with things like this, Like if I found
out that someone was genuinely or I felt like they
were taking advantage of me, even if they gave me
(31:16):
a salary increase because I asked, I don't know how
i'd feel about them moving forward. I feel like my
mum always used to say this to me growing up,
but I'm too black and white. She's like, you can't
live in the gray, Victoria. You need to learn that
sometimes there's this gray area and like I've just never
been able to do it. So I feel like once
I've written somebody off, sorry you're done. And so for
(31:37):
me personally, i'd be like, Okay, cool, you clearly undervalue me.
I'm going to find a new job. Yeah, I'm going
to work out what the hell's going on, because even
if you enjoy the job, clearly they don't value you
in the same way that they're valuing your colleague. If
you are correct, Yeah, but yeah, having a conversation about
what you want to be paid, I mean I'd probably
just walk in and be like, hey, so I was
thinking about this role, what it's valued at dumb my research,
and I actually think it's worth to pretend that your
(31:59):
colleague get paid a hundred I think it's worth one
hundred grand. And I'd be keeping up the sleep like
on my sleeve that I know that my colleague gets
paid that. And when they say, oh, we can't afford it,
we can't. You know that's not what's in budget for
that role, you'd be like, Brett gets paid that, So
I just thought it was fair to match it.
Speaker 4 (32:13):
Are you guys get him with the hard stuff?
Speaker 2 (32:16):
Like can you imagine how mortifying that would be if
they're like trying to back track and be like, oh
sorry Beck thought that and you go, yeah, all right,
well Jess has that, so like, what do you mean
you've got budget for them but not me after agreeing
that they're the same role. Yeah, yeah, yeah, I don't
know if that's the right thing to go and do,
like in terms of backing somebody into a corner, but
I'm very much to hold your cards close to your
(32:37):
chest if you have some information that don't give them
the information straight up. Don't be like oh well I know,
and they'll be like, okay, cool, well now I know.
I'm like what I'm working with. Yeah, sorry, I'm going
to lead you down the garden path. Yeah, and then
when you tell me no, I'm going to be like, sorry,
this actually was more for.
Speaker 5 (32:56):
Me than for you.
Speaker 2 (32:58):
And so yeah, I would, I would trying to have
that conversation. But yeah, I just think go find.
Speaker 5 (33:03):
People that value you.
Speaker 2 (33:05):
Likely even if you think you're happy now, I can
almost guarantee that you'd be happy or somewhere else. Yeah,
I don't really if you can't leave a different story anyway,
Name and shame, because we want companies.
Speaker 5 (33:16):
We want employees to be scared to not pay.
Speaker 4 (33:20):
Yeah.
Speaker 2 (33:20):
Anyway, we asked the community. We said, if you found
out your colleague was earning twenty five percent more, but
you weren't meant to know, what would you do? Sixty
three percent of you said, obviously, I'd bring it up.
The pay gap is the issue. Nine percent of you
VDS and you said I'm starting job hunting, and eight
percent said I would say nothing. I wasn't meant to
say that. No boys in Queen, Yeah, seriously, sorry, do
(33:43):
you know what? I believe there is a reason for everything.
There is a reason you saw that.
Speaker 5 (33:48):
Yeah, definitely.
Speaker 4 (33:49):
Do you know what your.
Speaker 2 (33:50):
Colleague might know? Maybe what if your colleague was like,
don't know how to bring this up? I feel really awkward.
I'm going to save my payslip there so that Jess
finds it. Maybe they're an ally exactly. Anyway, is twenty
five percent more pay there if someone has more experience?
Thirty three percent said yeah, experience matters. The other thirty
(34:12):
three percent said no, not if it's like exactly the
same work. Twenty four percent said I think it's the NBA,
and ten percent said feels like a gender thing TDH.
I think it's a conversation. Yeah, yeah, yeah, I think
it's a massive conversation. We then went to the community
and said, guys, what is your two cents? And lord,
you had at least four. First person said, arm yourself
(34:35):
with market data and state your case to your manager. Okay,
just great, cheek it out of our dms. Next person said,
experience and qualifications matter, but twenty five percent difference in
the same role does seem like a stretch.
Speaker 4 (34:48):
Yeah.
Speaker 2 (34:49):
Someone else said, how would they feel if someone with
less experience and qualification was getting the same pay as them?
I don't care.
Speaker 4 (34:56):
Yeah, it's a good point to look at it from
the other side. But our person said that they the same.
Speaker 2 (35:01):
So it's I don't know if this is divisive to say,
but as an employer, I'm going to use just as
an example. You've worked for me for what five years,
nearly six terrifying. I've loved all of them in that
period of time. Yes, Jess doesn't have a degree. Yes,
there's been a lot of development in the role, more responsibilities.
Obviously she's also had pay rises, but in that time
(35:24):
she has gained a deep understanding. If she's on the money,
a deep understanding of being able to talk on my behalf,
trust responsibility. That's not just like, oh, someone comes in,
so let's say she's on the money somehow doubles overnight.
We need two partnerships managers. I can guarantee you right
now that the salary I would offer to market, and
(35:45):
I'm happy to be quoted on this would not be
just as salary. I see that makes sense because to
me right now, it's not about degrees, it's not about qualifications. Yes,
I'd be looking for that, and yes, the role would
be marketed as such like I'm not going to try
and underpay someone. That's not the case. Don't think anyone
that works for me would agree that that ever happens,
it would be market fair going rate. I'm not going
(36:07):
to pay them what Jess gets because Jess has that
five years of experience of deeply understand Like if Jess
answered my phone to a client, I would trust her
that she knows she could give my advice. She knows,
and I don't think that if someone came in with
like a full degree or whatever you need for that
role and they found out what Jess aren't, because Jess
(36:27):
gonna tell them. I don't care. I would very happily
have that conversation that no, they weren't being matched and
there's a reason for that. Yeah, it's a good reason,
and it's exactly and I think there's a good reason
for that, and maybe you could think about that. I'm
not saying that that's the case, but like, yes, they
might have the same amount of experience as you, but
are you saying you have ten years experience in the
industry and they've got ten years working for that particular company.
(36:49):
I see this, and I'm not saying that every company
is the same, because some roles are so like clinical
where you just do the job and it actually doesn't
matter how deeply you know the organization because there's actually
ten million employees. But for me, that's a very different situation,
and I think putting that on the table is like,
I don't know, maybe a thought through caring for sure. Anyway,
(37:09):
I'll do two more. Next person said, talk with her
union reps because it's possibly actually widespread, might not just
be you. And then the last one I'm going to
share is I think they changed laws so that companies
can't hide large pay gaps like this, and I think
that that's where you should be looking like, that's very true. Understanding.
Do they have like a pay secrecy thing in your contracts?
(37:32):
Where does that conversation come in? Have you asked your
managers about like, oh, what's this role value dat?
Speaker 1 (37:37):
What?
Speaker 2 (37:37):
Yeah? I think there's just lots of conversation to be happening.
But what I'm learning is one communication and two do
your researching. Go in there prepared. Absolutely, we're not brushing
it under the rug. No, what a good little chat, guys.
I've loved this, but unfortunately that is all we have
time for today. So you know what, We'll see you
right nearly on Monday morning for our money. Have a
(38:00):
beautiful weekend, guys, Hi, guys. Bye.
Speaker 6 (38:08):
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
(38:29):
your needs. Victoria Divine and She's on the Money are
authorized representatives of money sheper pty ltd ABN three two
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AFSL four five one two eight nine
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