April 3, 2025 • 39 mins
Would you move away from your family, friends, and entire support system just to own a home outright? Well this week’s Friday Drinks is all about big trade-offs, bold moves, and knowing your worth (even when it feels uncomfortable to ask for it). This week, one listener is thinking of quitting her FIFO job and selling her home to move interstate and live mortgage-free... it’s a huge lifestyle shake-up, but is the financial freedom worth it? And we’re also diving into a workplace conundrum that’s way too familiar: what to do when your title, your responsibilities, and your pay are definitely not on the same page... and how to confidently negotiate the raise you know you deserve. Plus, of course, we’ve got all the money wins, juicy confessions, broke tips, and Friday fun you know and love.
Ready for more laughs, lessons, and unhinged money chats? Check out our oh-so-bingeable Friday Drinks playlist. Listen here.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello.
Speaker 2 (00:01):
My name is Satasha Nabananga Bamblet. I'm a proud or
the Order Kerni Wholbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming
(00:22):
through as this podcast is about connecting, empowering, knowledge sharing
and the storytelling of you to make a difference for
today and lasting impactful tomorrow.
Speaker 3 (00:33):
Let's get into it.
Speaker 4 (00:34):
She's on the Money, She's on the Money.
Speaker 5 (00:57):
Hello, and welcome to She's on the Money, the podcast
that makes finance.
Speaker 3 (01:01):
Fun, especially on Fridays.
Speaker 5 (01:04):
It is our favorite day of the week because I
get to get my little team together and celebrate you,
our incredible Shees on the Money community. As always, mister
Scricci is going to be sharing our favorite money wins
and confessions from the group. Beck, I don't know, maybe
you've got three broke tips to share with the community.
Speaker 1 (01:22):
I don't know.
Speaker 3 (01:22):
We'll see.
Speaker 5 (01:23):
We've got a juicy money dilemma this week, which is
all about negotiating a better hourly wage and something that
you slid into our DMS about should you move away
from your family and friends so you can buy a
home outright and be completely debt free.
Speaker 1 (01:37):
That's a big decision.
Speaker 5 (01:38):
And I just have a lot of questions about how
you have enough money to buy a home outright? What's
that look like? We need to know anyway before we
get there. How are your weeks? My loves, that's been
good to.
Speaker 1 (01:52):
The exciting happening.
Speaker 5 (01:53):
Just plug it along, yeah, love for you, a bit
of live love, laugh, laugh, living my best sech energy.
Speaker 3 (02:00):
Oh that's so lovely.
Speaker 6 (02:02):
I had gorgeous week I had. My boss told all
of us to take annually. You just putt it nice
and its kind of like if you want a cancer,
because like it's like good for sorry, no different boss,
but it's good for the company apparently if you put
your leave in and so, like I like.
Speaker 1 (02:17):
So they can plan I guess so.
Speaker 5 (02:19):
Or it's like it's financially but it's because companies don't
like you accruing heaps and heaps of leave because it
sits on their balance sheet as a debt. So I
as an owner of a business, like I've got people
in my business, and like Jess has some annual leave
and it sits in my like my balance sheet has
(02:39):
a debt because if just leaves, I have to pay
her out. Yes, yes, so it's actually better for the company,
like if you took some leave, because then they get
rid of some of that debt.
Speaker 3 (02:50):
But they're just.
Speaker 5 (02:51):
Paying your weekly salary.
Speaker 1 (02:52):
That makes sense. Well, I just like sprinkle it across
the ear.
Speaker 5 (02:56):
And so I just like happened upon like set of
you know, smart about my finances when it comes to
being a business. So I'm like, no, I'd never to
make you take leave.
Speaker 1 (03:05):
Don't worry.
Speaker 5 (03:05):
If you want a bank leaf, bank you leaf. If
you want to take your leaf, take your leave. Like
I just feel like that's mean.
Speaker 1 (03:10):
Yeah, that's fair, that's we love a flexible queen.
Speaker 5 (03:13):
Ye just I hate like side note, I just hate
when companies like yep, so mandatory shut down period over
Christmas and then she's almost like two weeks of your
own bloody leave their Christmas shutdown period and then you've
only got two during the year to quote spend on
new Yeah, it just makes no sense to me.
Speaker 3 (03:31):
No, I agree.
Speaker 6 (03:31):
I don't like that at all, but I do like
running to leave that I forgot I had in my calendar.
Speaker 3 (03:36):
So yeah, that's fair. I did that.
Speaker 6 (03:38):
And then my friend held a whole festival for their birthday,
So I sorry, it's just your.
Speaker 1 (03:43):
Friend held a festival.
Speaker 3 (03:45):
For the whole lu festival.
Speaker 6 (03:46):
There was like one hundred dollars prepared for two nights
camping and so oh my gorgeous, gorgeous, gorgeous annually randomly
had this festival, just.
Speaker 5 (03:54):
Been having a great week enough friends to have a
festival iftial for my birthday, it would be me and
just camping, that's what they would call it.
Speaker 3 (04:06):
They would just call it camping.
Speaker 1 (04:08):
I'd rather do that in a hotel if i'm wannest.
Oh yeah too, me too.
Speaker 5 (04:12):
Yeah, Like, let's not get into that because it makes
me seem incredibly out of touch.
Speaker 1 (04:15):
But you're right, hahh No, I completely agree. But no,
so gorgeous week, what about you?
Speaker 3 (04:20):
I love that.
Speaker 1 (04:21):
Nothing interesting to report.
Speaker 5 (04:22):
Our Investing master Class is open, so I have been
spending a lot of time in that, which is really
exciting because, as you guys know, I feel like it's
not a secret. The Investing master Class is my favorite
of all the master classes I run.
Speaker 2 (04:34):
I don't know.
Speaker 5 (04:34):
It's my hyperfixation topic, like it's the.
Speaker 3 (04:37):
Love of my life.
Speaker 5 (04:38):
So I have been focusing on that a lot. If
you dried to sneak in now, maybe you could. It's
like I was meant to close the doors and stop
people signing up, but I forgot to turn that off
on purpose. So I'll leave that open for a little
bit because I keep getting these dms of people saying like, oh,
I've missed out, and like I haven't gotten in, Like
maybe you could just catch up and watch the videos
(05:00):
I've already dropped and just catch up. But I can't
leave it open that much longer because otherwise it's just
not fair on everyone who got in early anyway. So
that's been happening and keeping me really busy. I'm a
bit sad about it feeling colder in the mornings, like
I feel like the coldness is starting to creep back,
and I can already feel my seasonal depression starting, I see.
Speaker 3 (05:21):
Which I'm not adoring.
Speaker 5 (05:23):
But I'm trying to work out how I manage better
this year than I did last year. So I'm working
on that and I'll share updates if I have any gorgeous.
Yes please, Yeah, so easy though, Yeah see I need
to I need to reframe it. And it's cozy as
opposed to cold and wet and miserable. So yeah, I'll
work on that. I just need some more Beck energy
in my life. Would you guys like to bring up
(05:46):
the mood again? A five star review?
Speaker 1 (05:48):
Yes please?
Speaker 3 (05:49):
I'm excited this once from Steph.
Speaker 5 (05:51):
She says, I've been listening to She's on the Money
for years now and it has properly changed my life,
both in terms of my money mindset and in terms
of mogmenting actual items. I've gone from living paycheck to
paycheck when I started listening to having a very healthy superannuation.
I actually moved to Australia at thirty two and didn't
start contributing until thirty six. Very healthy investments and I
(06:13):
saved an entire twenty percent house deposit, all.
Speaker 3 (06:17):
On my own.
Speaker 1 (06:17):
Wow.
Speaker 5 (06:18):
I cannot thank these girls enough for how much they
inspire women to take charge and better their financial situations.
Also low key hoping Beck is regularly investing after all
this time.
Speaker 3 (06:28):
Hah ha.
Speaker 1 (06:31):
Well, thank you for your concern and I am not yet.
Do you have your roundups on though I had to
turn them off.
Speaker 6 (06:38):
Yeah, that's unfortunately, but I'm going to put them back
on next piece cycle.
Speaker 5 (06:43):
Check and actually, how are you going? Are you buying coffees?
Are you not buying coffees? I'm still not buying coffees.
I was thinking the other day, Beck, when I saw
you with a paper cuff in hand, I thought I'd
caught you, and I.
Speaker 1 (06:55):
Said, Beck, is that a coffee that you bought? And
you were like, no, someone bought it for me.
Speaker 3 (06:59):
And I was like, this, sneaky little lady. I have.
I certainly have.
Speaker 1 (07:04):
Oh I forgot my wallet, or I don't have any
money for a coffee. Oh, I'm running lant.
Speaker 5 (07:09):
You just work in our team, and our team I
always like, do you want me to get your coffee back?
Speaker 1 (07:12):
Because you're not me to be buying coffee.
Speaker 6 (07:15):
But you know, I've I've kind of gotten really used
to the flavor of a French press and I prefer
it it sounds boogier, it does seven bucks and came
out and pressing this thing down boom.
Speaker 5 (07:28):
Don't tell them that's career, that's true, that's true. Secret
so they can do it as well. But like such
money Whinger's seven Bucks from came out. That's literally a
late in Glenaris, like be real genuinely.
Speaker 6 (07:40):
Yeah, exactly, yeah when you put it like that, Yeah,
but no I am. I am investing in Cheersias, but
I probably do it like once every few weeks rather
than weekly or how much how often I'd like to
be doing it.
Speaker 5 (07:52):
And that is fine, Like that's the beauty of investing, right,
you can turn it on and off and work out
what works for you. Yes, in a perfect world you're
investing consistently and regularly over time. But like that doesn't
work for everybody. I need to just like segue off
this for a hot second and like talk more about investing.
Speaker 3 (08:10):
Was that hard to do?
Speaker 5 (08:11):
Like are you just are you finding it easy to
turn on and off your investments or that? Because I
think a lot of people go, oh, I don't want
to commit to it because then I'll have to keep
doing it and it'll be hard to turn off.
Speaker 1 (08:21):
No, not all.
Speaker 3 (08:22):
It was so easy.
Speaker 6 (08:23):
Plus I don't think I even had roundups on for
that long. I feel like I just went in because
it would be like literally a button. It's like changing
the settings in your phone.
Speaker 1 (08:31):
Right, Yeah, and it's very it was very fun.
Speaker 6 (08:34):
Like I think, I I don't even remember when I started.
It would have been maybe a year ago, but somehow
I have like I have like.
Speaker 3 (08:41):
Five hundred bucks in there.
Speaker 6 (08:42):
You don't actually, yeah, and I don't even have that
much in savings.
Speaker 1 (08:45):
But there's something about like you got five hundred dollars invested, yeah.
Speaker 6 (08:49):
Because I like, if that was in my savings acount,
I would have so much access to it that would
not exist. But there's something about like having to withdraw it,
and I was like I can't.
Speaker 5 (09:00):
Stor it gets the more you're like, oh I really
can't touch that now. Yeah. Yeah, maybe when it was
like fifty bucks, you'd be like, oh, it wouldn't matter. Yeah,
Like it's five hundred dollars. I can't take five hundred dollars.
Speaker 6 (09:10):
Exactly, and you've got to sell it from all the
different little things you've got.
Speaker 3 (09:13):
It's just too much effort.
Speaker 6 (09:15):
So the best way for me to say, which I
know is not ideal, that's harden emergency fund you do,
but it's just it just works very well.
Speaker 1 (09:23):
So proud of you. Imagine like a year ago when
before you'd started, and you're like, oh, I remember we
spoke about it. I think in a reel or something.
You're like, Oh, I would really like I want to
it something I want to do, but I just haven't
done it yet.
Speaker 2 (09:36):
Yeah.
Speaker 1 (09:36):
And even if you are turning out on and off,
like the fact that you've started and you've left it
in there is such a big step.
Speaker 3 (09:41):
Yeah, thank you so much, queen, Thank you guys.
Speaker 1 (09:44):
I love that for you.
Speaker 5 (09:47):
Speaking of love, let's move back on to what we're
meant to be talking about on the show, and that
is our community. Jess Gricchi, what are the money wins
and confessions that you're bringing to the table this week?
Speaker 1 (09:57):
Oh right, first of this week, I have one from
Risha Well he said money win. I was in Woolworths
yesterday and they had Nappis on sale for half price,
so I grabbed a bag. At the checkout, it scanned
full price and I kindly mentioned it to the checkout lady.
We had a bit of back and forth. She looked
into it, and then I got told that because the
pricing was incorrect, I now got it for free money.
Apparently the same rule applies that Cole's Woolies and Aldi.
(10:22):
Rachelle said she would have been happy to just get
them at half priced. Just get them at free is
a huge win. And then somebody commented who worked at
one of the supermarkets instead. Apparently at the supermarket she
works at, you have to specifically mention the free rule,
So if this happens to you, it might be worth
just mentioning to whoever's checking out, Oh does this mean
I get it for free? Someone also linked a policy
(10:45):
information so how to look into it?
Speaker 5 (10:47):
But I was talking to somebody else and this reminds
me of that. But like when you said you have
to mention it for it to be honored, I was like,
that's sneaky. But phone plans, so like when you call
up and you're asking your phone company for a better deal,
more often than not, they can't give you a better deal,
even if a different company has a lower one, unless
you specifically name drop and go, well, this other company
(11:10):
has it for five dollars less per month. At that
point they can go, okay, well we'll match it, but
they can't match it or drop it unless you like
yeah right, yeah, so good one to your mind, especially
a high tier item.
Speaker 1 (11:22):
Nappies are expensive, so job they are?
Speaker 3 (11:25):
Do you know what I won't say it's.
Speaker 5 (11:26):
A hidden cost, because like you are changing a lot
of nappies, but like I was shocked at how expensive
they are consistently like that you have to end up
nappies formula. All of those things add up, like it's
just and I'm not complaining at all part of the budget, but.
Speaker 3 (11:44):
It's just a lot, especially right now.
Speaker 1 (11:47):
Yeah, so a free one, we love that.
Speaker 3 (11:49):
Yeah seriously.
Speaker 1 (11:49):
Next, I've got money in from Rebecca who said my
children's daycare were updating their outside tweet and therefore rehoming
the old ones to daycare families. They scored a cozy
Cube under.
Speaker 3 (11:59):
Trick for free. The kids are obsessed.
Speaker 1 (12:01):
Now they don't fight over who gets to go in
the car first because they've got one each.
Speaker 3 (12:05):
Yeah that was is so cute.
Speaker 5 (12:07):
I really cozy Coop Harvey is obsessed with his. And
if you don't get one for free from your daycare,
you can pick them up on Facebook market place for
like twenty bucks, or if you like me, you can
pick them up on Facebook Marketplace for twenty bucks and
then spend like one hundred dollars on paint to make
it look like a golf cart. I definitely don't need
to do that second step optional. Next, I've got a
money in from Zoe. He said, her and her friend's
(12:28):
doing a big group trip overseas. She was the first
to book her travel insurance. At the end of the process,
she was given a fifteen percent off discount code to
share with friends, and then every time someone uses this
account code, she would get a twenty dollars gift card
of her choice. So now all her friends excuse me,
get fifteen percent off and she gets all their twenty
dollars gift card. Oh my god, you've gained it.
Speaker 3 (12:49):
Yeah, really is.
Speaker 1 (12:51):
And then lastly, this week, I've got a money win
from Keianni, who said she dropped her car off to
be repaired in an embarrassingly messy state. That is always
me too, and when god, she said, it was a
lovely surprise when she picked it up because it had
been freshly detailed.
Speaker 5 (13:06):
Face that is, it also makes me low key feel embarrassed,
like I'm dropping this car for a service and then
it comes back vacuumed and I'm like, that's so nice,
But it's because it needed vacuuming and probably noticed they
couldn't avoid.
Speaker 1 (13:20):
Yeah, sorry about the empty wrappers. The popcorn, the crumbs,
whatever else you found down there.
Speaker 5 (13:26):
Oh my goodness, well that was a very good rap
of the wag Jess Beck, what are your three broke tips?
Speaker 1 (13:32):
So this first one kind of ties into the nappy thing.
Speaker 3 (13:35):
Oh perfect step.
Speaker 6 (13:37):
Kind of not really, but anyway, I have one from Madra,
who I'm so sorry if I'm saying that wrong, who
says by period pants they're the best things. So you
don't you have to spend money on tampons pads anymore.
I feel like if you even, like, you know, moon
cups and stuff like that.
Speaker 5 (13:52):
I was about to add to that, I have the
period cup from Moxie.
Speaker 3 (13:57):
I'm obsessed.
Speaker 5 (13:58):
Yeah, and it's so love it, like it is the
love of my life. Like and I am not saying
that lightly because I know that a period cup isn't
for everybody, but for me that works so well, Like
and I.
Speaker 3 (14:11):
Love that it's zero waste. Yeah, really good, perfectly exactly exactly. Yeah,
and it's so much easier than you think it is.
Speaker 5 (14:18):
Like I think a lot of the time people go, oh,
that would be really uncomfortable, Like it's not I would
make a video on it. But the entire Moxie like,
I don't know if you guys have seen the Moxy TikTok.
Speaker 1 (14:30):
They have like more.
Speaker 5 (14:31):
Than a million followers because they do these great educational
videos on periods and they're like it's white. Have you
seen like how the period cups fold so like they're silicon,
and like there's like so many different folds you can do,
and like, yeah, you probably do have to get a
little bit comfortable with like your own body to do this.
But like, once I worked out the fold that worked
(14:52):
for me, we are golden. We are good to go
and it is perfect.
Speaker 1 (14:57):
Yeah, and it's just a one soft purchase.
Speaker 5 (14:59):
Yeah, wait until the period cup is on sale because
I believe it's about thirty ish dollars and at Chemists Warehouse.
This is not an ad from Oxy at all, but
like this is I've tried a lot of them, and
I like the silicon on this one best because it's
like the softest, Like it just it squishes more. I
don't know how to explain it better than that it
squishes more and it has this again weird. But you guys,
(15:20):
I'm pretty sure ninety nine percent of our listeners of females,
So you're going to appreciate this. It has this ribbing
at the bottom of the cup, so when you're grabbing
it to pull out, it like has a grip.
Speaker 3 (15:30):
Yeah, we love a grip.
Speaker 5 (15:32):
It just makes sense. So all of that works. But
they often go on sale at Chemist ware House.
Speaker 1 (15:38):
Great to know to see that they sell period undies
at the Chemists now too, you can only get them online.
It might have actually been Chemists ware House. I'm not
one hundred percent sure on that, but.
Speaker 5 (15:49):
I definitely saying them at Chemist whare House. Yeah, and
I saw period undies in the store and I.
Speaker 1 (15:52):
Was like, oh, that's so cool.
Speaker 6 (15:54):
I'm pretty sure I've seen them in the middle aisle
the specializes all Oh, of course.
Speaker 7 (16:00):
I love it.
Speaker 2 (16:00):
I love it.
Speaker 5 (16:01):
And if you're someone who I just feel like giving
it a crack is a good idea because I think
so many times will go oh no, yes, maybe, And
like I've had this discussion with girlfriends who are like,
ill a period cup and I'm like, it is the
love of my life, Like this, I won't go into
it too much, but like I bleed through tampons, like
(16:21):
it's just not a fun time and this just she's tidy,
she's nice. You can change it in the shower. It's
a good experience.
Speaker 3 (16:29):
Absolutely.
Speaker 1 (16:30):
I love your Body Body undies. If anyone wants recommendation Bodybody,
Muddy Body, I think, yeah, the body Body ones are
the way really I have as well? Is that the
one with an eye at the Yeah, I'm od I
think I've seen that.
Speaker 3 (16:41):
Yeah, okay, I've tried, but they're good.
Speaker 1 (16:43):
Good to know, thank you.
Speaker 5 (16:45):
I've tried a couple of other brands because I've been
very grateful to have been sent them before, but you
wouldn't have seen me post about them because like the
Body Body ones very comfortable are the ones that I
have historically been sent to try kind of feel a
little like they have a plastic.
Speaker 3 (16:59):
Lining in them.
Speaker 1 (17:00):
They just like cool.
Speaker 5 (17:02):
I've noticed that and that's not very fun. So like
the mudibody ones don't have that. I feel like there
are one hundred percent cotton and very comfortable.
Speaker 1 (17:09):
Like they don't give that weird heavy one because they do,
which I also we've fully gone off on period, but
they do different flow like there's a lot of medium
heavy or something, and even the heavy duty one.
Speaker 3 (17:21):
It doesn't feel like that.
Speaker 1 (17:22):
Yeah, what I would do at night, I was like
it feels thicker, but it's still comfortable and it's not
crinkly like you were saying, yeah, which I think is good.
Speaker 3 (17:30):
Check it out.
Speaker 5 (17:31):
I love it.
Speaker 1 (17:31):
Great to know how good body body.
Speaker 6 (17:33):
And this next one comes from Meal who says, if
you have a chronic condition, you're likely eligible for an
enhanced primary care plan. They're amazing, five government funded visits
with an allied health professional, example, exercise.
Speaker 3 (17:46):
Very cool things like that.
Speaker 6 (17:48):
So that's great to know if you are currently suffering
from or struggling with chronic health condition, definitely check that out.
Speaker 3 (17:56):
Yeah, very cool. And then this last one obviously is
from myself a my friend.
Speaker 6 (18:02):
So a cheaper alternative for your soda streams of the world,
Billy Bubbles, soda gas refills at your doorstep. I recommend
just having a little Google because soda stream. I love
a soda stream, but I don't think I'm spending I
know it's really bad for the environment, but I think
(18:23):
I'm not drinking enough soda water or soda drinks to kind.
Speaker 3 (18:27):
Of like justify that.
Speaker 1 (18:29):
I am.
Speaker 5 (18:29):
I absolutely am bubbly water every day. We've callt spicy
water in our house, and like I swear it's the
primary type of water I drink.
Speaker 3 (18:38):
Yeah, it's my favorite. I love sparkling water.
Speaker 6 (18:41):
But I just don't know if I'm yeah drinking enough
to warrant that. But I think if you are, or
if you have a soda stream, you're just very environmentally
conscious and you can afford it.
Speaker 3 (18:51):
Yeah, do check out this other one.
Speaker 5 (18:52):
It is, yeah, because they do the refills that fit
in the soda stream and they're just cheaper and they
drop it to your door and that's a win easy.
Speaker 3 (18:59):
I know that because I Billy Bubbles dot Com.
Speaker 5 (19:02):
Well, good work there, go all right, Well, let's go
to a really quick break on the flip side. You
and I are going to have a deep discussion about
negotiating a better hourly wage rate. And you guys slid
into our DMS this week about should you move away
from your family and friends so that you can buy
a whole house outright and live completely debt free? Which
(19:23):
I need a lot of context here, so guys don't
go anywhere.
Speaker 1 (19:30):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 5 (19:36):
Hi, there, have you got a money dilemma you just
can't solve the She's on the money team is here
to help. Every week, we tackle your dilemmas, both big
and small, to answer your most burning money, career and
life questions. To get involved, simply head to our website
and leave us a short voice recording and you might
just find yourself on the show.
Speaker 1 (19:54):
Now, let's take a listen to this week's money dilemma.
Speaker 7 (20:00):
She's on the money. I would love to ask a
question about negotiating a new hourly rate. So I'm an
earth mover, been an earth mover for four years. I
love it, I love the money, I love everything about it.
But I'm listed as a laborer at the moment, which
is a CW three, and I've just been gifted my
(20:21):
very own machine, which is a CW five. There's a
massive difference in the hourly wages there which I would
love to be able to ask my boss if I
can negotiate something in the middle. A CW three and
a CW five has got roughly twenty to twenty five dollars.
Speaker 3 (20:40):
Different an hour. That's a lot of money I'm losing
each week and each year.
Speaker 7 (20:48):
Is there any little way that you've got that I
can maybe ask my boss in regards with negotiating a
new hourly rate. Thanks love you guys.
Speaker 5 (21:01):
Oh my goodness, Oh my goodness, do you I'm not
evening to jump in here barecas shoes?
Speaker 6 (21:06):
She do.
Speaker 1 (21:08):
Actually, this is great.
Speaker 6 (21:09):
This is a great timing because I literally just asked
my boss yesterday. I didn't ask for the exact same thing.
I just said, how do I go about doing this?
And then she said, if you come prepared, And I
feel like Victoria, you would.
Speaker 3 (21:23):
Say this is a similar thing. It wasn't me.
Speaker 5 (21:25):
I'm not the boss, she asked, No.
Speaker 6 (21:27):
Different, boss, come prepared with your I don't really I
don't really like this. I feel like the cost of
living right now is so expensive it should just kind
of be by default. But you come prepared with your performance,
you know, like why you are deserving and all this
kind of thing. Why am I deserving to be able
to afford bond? Soy over the home brand Soy milk ridiculous.
(21:49):
I don't like it anyway.
Speaker 3 (21:50):
I'm literally getting my head is getting tired right now.
I'm very angry. So I don't think that that anyone
needs to do that.
Speaker 1 (21:55):
But if that's what you gotta do, if you're going
to play the game to try.
Speaker 6 (21:58):
And like get by and leave it a little bit
more of a comfortable life. Yeah, I think I would
just kind of do that. I don't really know if
that's I've never really done this, I'm not really. I
would always say, obviously, come prepared. It annoys me that
your boss is like, well, come prepared with your performance.
Speaker 1 (22:13):
She can't.
Speaker 5 (22:15):
My manager didn't do.
Speaker 3 (22:16):
You know, my performance?
Speaker 5 (22:18):
I don't see, like I know, I don't know. I
just have a lot of thoughts and feelings about things
like that, which we will leave for another time. We've
done whole episodes on negotiating your salary, which, honestly, Beck
you should go and listen to. Some of them were
pre you being on the show, and that could actually
benefit you. I know Jess is probably going to have
(22:39):
an answer similar to mine, because I mean we've worked
together for like five years now, which is insane.
Speaker 3 (22:45):
Just what would you do?
Speaker 1 (22:46):
So it sounds like within your role, there's obviously clear
guidelines as to what categorizes you into the different things
like obviously you've said that you've been given your own machine,
which is really exciting, so that puts you in the
high category.
Speaker 2 (23:00):
W five.
Speaker 1 (23:01):
I would just cross check that you're ticking all of
the other markers for a W five because typically when
you have salary bands like this, it's outlined.
Speaker 5 (23:10):
Yeah, there's like what's the word award that's it, or
like ban Yeah, there might be a job description or something.
Maybe you know somebody at that higher job description that
could provide you with their job description, so you could
like cross check, yeah, there's a go to your manager.
Speaker 1 (23:25):
There's a really good guide to awards on the Fairwork website.
There's actually a huge document that outlines every award that exists.
So you can go to their and you can search
by award or you can search by job. It's like
there's a lot of different ways you can filter it
and you can go through and you can find specifically
what the W five is. Cross check that you're taking
all the markers. If you're ticking all the markers, I
(23:46):
would say, don't negotiate.
Speaker 5 (23:47):
Oh we're not negotiating W five babe, Like go for them.
We're not just going for it, We're just letting our
boss know. I think there's been an issue and I'm
meant to be on W five. I actually I feel
bad about it. I checked absolutely everything and I am
so could you just fix that up and see how
that conversation goes, because that's a different conversation than negotiating
(24:08):
to be.
Speaker 3 (24:09):
On a rate that you should already have been.
Speaker 6 (24:10):
On and then get that's a great idea because now
they're in the position where they have to then tell
you you're not and then explain.
Speaker 3 (24:18):
Why you're not deserving of that or why you do not.
Speaker 5 (24:21):
So am I not doing the capabilities that I already
cross checked and confirmed that I do.
Speaker 3 (24:26):
That's great.
Speaker 5 (24:27):
Did you want me to not do those things here
in this business?
Speaker 3 (24:30):
Actually take some things off my plate in that case?
Speaker 7 (24:32):
Yeah?
Speaker 1 (24:32):
Weird. It does change the dynamic.
Speaker 5 (24:35):
And I think as women, we automatically go, I really
should talk to them about this, or you know, in
the nicest possible way, I should negotiate it. Hold on,
there are some things that aren't about negotiating, which we
should have as a good skill. There are some things
that we actually need to just back ourselves and be like, hey,
business like this is actually incorrect and you need to
fix it, and then let them squirm.
Speaker 1 (24:56):
Yeah yeah, but I, as you said, come prepare, do
all you do, diligent, make sure you are to hear
those boxes. If you're not to hear all the boxes
with W five. Then maybe you can name for somewhere
in the middle, or do exactly as Beck did and say, hey,
what do I need to do to get there? Yes,
but yeah, just approaching them.
Speaker 5 (25:10):
Also, you and I we can sit down later, Beck
and we can work out what you can say to
your other boss about getting that pay rice.
Speaker 3 (25:16):
Thank you.
Speaker 5 (25:17):
I will literally be like, okay, cool, So this is
what you're going to take. The first thing I'm going
to tell you to go and find is the Hayes
Salary Guide. So that's downloadable online for free, massive pdf.
You're going to have to control F to find your job, sure,
but my favorite thing about that guide is it's I
think it is the biggest recruitment guide in Australia. And
(25:37):
when I say biggest, I mean it has the biggest
sample size, so the most amount of like people in
its thousands. But you can control F your job, and
then once you find your job, you can then look
at it based on the different states and territories and
then the years of experience and what your salary should
look like. Hy s Hayes oh hellary Guide, and yeah,
(26:02):
go from there. That's something that I've been recommending four
years and it's something that I use. You know, if
I'm looking at pulling a new role into the business,
I'm looking everywhere. I'm looking on seek, I'm looking on LinkedIn,
I'm checking other job descriptions, making sure that you know one.
I'm capturing everything I need to. But is the salary reflective?
And then I go to the Hayes Salary Guide and
(26:22):
work out what would be reasonable and what is like not.
And even if someone comes to me and says like, oh,
I would want salary X, but my salary is higher,
I'll be like, well, your salary is actually worth more. Sorry,
Like I'm not going to pay you less just because
you suggested less. Like I'd be so embarrassed. So yeah,
that for me is like I won't say the Golden ticket,
(26:44):
but a really cool tool. And if you want to,
you could say to your manager and like this is
just side advice. We could write a really nice email
that outlines everything and says, hey, YEP, I took your advice.
I've gone and done my research. I've gotten all of
my stuff together. I wanted to provide you all this
information before our meeting. Here's all the information on my performance.
(27:07):
Here's how I have excelled, because sometimes these conversations are
really hard to have in person, like because you might
fumble it or be really anxious. Right, So we're going
to do this nice email. Also, I've checked the Hay salary.
Glad I've attached it for your convenience, and my salary
could be or should be about here. Let's have a
(27:27):
meeting next week to discuss all of this. So they're
getting all of the information that they need and know
what you're asking for to begin with. And it's literally
what we're saying before about this C five thing. We're
putting the control back in your hands because they're going
to have to come back and be like, no, you
don't do these things. But what you think it was
a five minute email? No, that was a very well
(27:48):
where researched email. To make sure that I'm not sending
you a hopeful I'm being like, hey, cool, you told
me to look at my performance. I actually did, and
I'm above and beyond.
Speaker 1 (27:57):
Yeah.
Speaker 5 (27:57):
Yeah, they have to come back and say, oh, no
we can't and what not. But it puts you in
a much stronger position.
Speaker 6 (28:03):
Gorgeous advice say less baby, Yeah, I love that, thank you.
Speaker 3 (28:08):
That is okay?
Speaker 5 (28:09):
Moving on juicy DM, and I say juicy because I'm
just like, how can you afford.
Speaker 3 (28:13):
A house outright? So would you like to hear it?
Speaker 1 (28:15):
Yes? Yes, Hey, she's on the money.
Speaker 5 (28:17):
We are currently renting out our property to live closer
to my work while the kids are young.
Speaker 3 (28:22):
Fifoux Worker.
Speaker 5 (28:24):
It was never our dream home, but it's a good
house with nice memories. Now prices have boomed and there's
a lot of equity sitting in it. If we sold today,
we'd walk away with six hundred grand cash after expenses.
The thing is, do we sell them buy something else
in that budget? To be debt free To buy the
property we actually want, we'd need to move into state,
(28:46):
away from family and friends, as that's where homes in
our price range are. But being debt free could mean
quitting FIVEFO and being around the kids more while living
in a dreamy location. All the investment strategies say to
use the equity to buy something else renting it out,
but it's not a good rental. It costs more than
it makes, and then we just have more debt. What
(29:06):
would you guys do?
Speaker 6 (29:08):
I wouldn't ever prioritize It really is a struggle because
both what I was about to say was like I
wouldn't prioritize something over a lifestyle or like, But then
I guess either scenario is lifestyle. It's like spend time
with your family and don't have to work as much
and move away from your friends and all.
Speaker 3 (29:29):
That kind of stuff. But I'm just sure there's a
middle ground. Like say, for example, we're here in Melbourne.
I could not with that money be able to.
Speaker 6 (29:38):
Afford a four bedroom house in Brunswick, but maybe I
could in Reservoir. I'm not that far away from my friends.
And maybe I'm not buying it outright. Maybe I've just
got a two hundred thousand dollars mortgage. I'm just I
don't know if that's actually how it works, but a
smaller mortgage, just like you don't have to you don't
have to go buy it completely out right.
Speaker 1 (29:58):
Just get somethings, maybe even a lit do.
Speaker 6 (30:00):
We more than that, and you can be close to
your friends and family, you don't have to work as much,
you spend time with your kids.
Speaker 1 (30:06):
Like everything's good.
Speaker 6 (30:07):
Maybe just get like a part time job, also like
not working at all, Not that that's what they're suggesting,
but it sounds great, But when you're sometimes you and
you leave for too long and you're like, I'm desperately
bored and sad and lonely, and so there might be
this nice balance in between that we're not looking at.
So you know, have a look at places around you
just slightly outside your zone, but you're close to your
(30:29):
friends still, and you're close to your lifestyle. You're close
to the schools, and you're close to everything you know,
and even if you need a little mortgage, it's okay?
Speaker 5 (30:39):
Is that right?
Speaker 3 (30:40):
Am I right in saying that? Is that a possibility
that you get a little mortgage to something?
Speaker 1 (30:43):
Yeah?
Speaker 7 (30:44):
Cool?
Speaker 1 (30:44):
Yeah, it's all dependent on what they purchase. So as
to say our listeners saying that they to purchase a
home within their price range their meaning within the cash
that they have, so at around the six hundred thousand
dollar marks. Yeah, obviously we don't have any context as
to where you live or any insight into you know,
what distance is at what the price is. You know,
can you move The example you gave here Beck is
(31:05):
you move, you know, maybe half an hour away from
your ideal location, but the price range drops significantly. We
don't really know what that looks like for our listener. Yes,
that's I would say, you need to consider how reliant
you are on your network, like your family and your friends.
Because if you're someone who has you know, mom and
dad look after the kids a couple of days a week,
we're having dinner, you know, once or twice a week
(31:27):
with our friends, We've got all our regular catch ups.
I think moving away from that would be a lot.
Whereas if you find that because your five fo perhaps
you're already a little bit more isolated, the move may
not be as taxing on you, or it may not
be as hard to move away from that circle. It's
really going to depend on, like how closely I guess
you're leaning on everybody. You said that your ideal or
(31:49):
dreamy location. In my mind, I'm picturing you moving to
like a beach somewhere, right, Like you're moving from like
a city or a countryside town to like a beach
or something like that. And so I guess you also
have to weigh up, like the lifestyle that you would
live in this new location again against the loss of
your proximity to friends and family starting over, it might
(32:10):
be exciting for you like you might like the challenge.
You can make new friends in new places, Like, It's
not as if you move away and you never talk
to anybody ever. Again, family is a little bit trickier obviously,
but it really depends on you in your situation. I agree, though,
I think that being debt free is a really great
appealing thing, and I'm sure many of us would love
to never have any debt when it comes to our property.
(32:32):
But if you have that six hundred thousand dollars in cash,
you could potentially take a small loan with very minimal
repayments compared to what you would are paying currently and
have Yeah, that middle ground where maybe you're still within
the state or driving distance, maybe you're a couple hours
away from the people you love, but also in a
(32:53):
property that you love as well. Yes, I feel like
we don't eve enough details to really be able to
lack fully.
Speaker 3 (32:58):
Do you know what I mean?
Speaker 2 (32:59):
Yeah?
Speaker 3 (33:00):
No, I totally get it.
Speaker 5 (33:01):
I am like, I've been looking at it and thinking
about it, and you've just told me that essentially you
have six hundred thousand dollars in equity. Get financial advice.
Go sit down with a financial advisor and talk about
your lifestyle goals, what you want to achieve, what that's
going to look like. You know that you do want
to work less. What income requirements you have in the future, Like,
(33:23):
just being completely debt free doesn't mean you don't need
income coming in the door. Like just because you have
a house fully paid off doesn't mean you never work
a day in your life again unfortunately, Yeah, so what
does that look like? Because a financial advisor could sit
down and be like, okay, cool, well let's do some projections.
And as an ex financial advisor, this was one of
my favorite things. Like we would do projections based on
(33:44):
different scenarios, so then we could pick the scenario that
made the most sense based on that projection. So we
could project you staying in that property. We could project
you renting out that property. And I know that you're saying, oh,
that property costs more than it does yield in rent income,
which is fine, but like, what would that property be
worth in the future. What are your capital gains on
(34:06):
that property? You know, what are the selling costs? Back
to what you were saying, Jess, like what would childcare
look like like? All of those additional things, Because yes,
you want more freedom and flexibility, but just being completely
debt free today might not actually put you in the
wealthiest position. Long term debt free fantastic sounds incredibly sexy,
but if you've got thirty plus years of working left,
(34:30):
like are we investing? Like? How are we creating long
term wealth? Because extinguishing debt doesn't necessarily mean that that's
the best decision for you. Like I know that with
my mortgages, if you just extinguished one today, that like great.
Speaker 3 (34:45):
No worries.
Speaker 5 (34:45):
I'd love to be quote debt free on my mortgage,
But like, what am I doing with that income that's
coming in now? Like that would be the question. If
I don't have a mortgage, how am I creating wealth?
Speaker 2 (34:55):
Like?
Speaker 5 (34:55):
Am I investing it in the share market? Am I
buying another property? Am I building another business?
Speaker 2 (35:00):
Like?
Speaker 3 (35:00):
What do all these things look?
Speaker 6 (35:01):
Like?
Speaker 5 (35:02):
That's the question, not should I just move and be
completely debt free? Yes, you would get more time with kids,
and I totally get that because as a mum, I
want to spend the most amount of time with my baby,
but I also need to pay his school fees in
the future. I also need to create a lifestyle where
my husband and I can comfortably retire so that maybe
(35:22):
one day, when Harvey decides to have kids, I can
afford to give child care to my kids. Like, there's
a lot to think about, and that's probably not the
sexiest of answers. But if you are telling me that
you have six hundred thousand dollars in equity in your property,
I promise you have the cash to pay a financial
advisor in the best possible position.
Speaker 3 (35:45):
That's a great point.
Speaker 1 (35:45):
Whatever Bill say.
Speaker 5 (35:46):
Okay, So there was a lot of opinions. So first
question we asked what would you do in you're in
this situation. Forty five percent of you said I'd sell
and be debt free. Twenty eight percent of you said
sell and get a new mortgage, three percent of you
said hold and use equity to invest in. Four percent
of you said keep renting and wait it out. We
(36:06):
then asked, would you move into state away from friends
and family if it meant being mortgage free and quitting
five fo to be with your family. Twenty six percent
of you said yes, it would one hundred percent be
worth it, Forty six percent of you said maybe it
would be a hard call, and twenty seven percent of
you said no, I could never leave my support system.
We then said what is your two cents? And we
(36:27):
had a number of good comments. So first comment said,
five FO is very challenging as a lifestyle. I've been
doing it for nine years. It's not for the faint hearted.
That's a great point, very true. But also what does
that lifestyle exchange look like? So, yes, you're changing five
FO and it is not for the faint hearted. But
often with FIVEFO you've got like five on, five off
(36:49):
or whatever that might look like. Is that a value
to you?
Speaker 1 (36:53):
Like you enjoying that flow?
Speaker 2 (36:54):
Do you know what I mean?
Speaker 5 (36:55):
There's just so much to weigh up. Someone else said,
just toss a coin, the disappointment or the euphorio you
feel that the answer is going to tell you, oh great,
cal I do like that.
Speaker 1 (37:07):
That's why I said it that way.
Speaker 5 (37:10):
That way I think I did a funny Next person
said it's important to weigh up the other costs of
living away, which might not just be financial. Another person said,
my husband and I are working in the defense force.
We'd sell and move in a heartbeat for more family time.
Speaker 1 (37:26):
It's fair.
Speaker 5 (37:27):
Another person said, we moved, We're never going back. We
love our new home and our disposable income to visit
our family when we need, which is really coy and
I have no more to share with you. The next
one is you won't have that time back with your
kids if you're debt free, maybe you could save again.
And the last person said, you need to consider what
the job market.
Speaker 3 (37:47):
In that new area looks like. Great point. Yeah, great point.
Speaker 5 (37:51):
That's good and I feel like that's a really great
place to leave it. Interesting question, not as juicy as
I thought. I was like, what are you doing to
be completely outright, and the answer ended up being equity,
which honestly makes.
Speaker 3 (38:01):
A lot of sense.
Speaker 5 (38:03):
We're like yolo. Anyway, it has been a good episode, obviously.
I love hanging out with you guys. But we'll see
you next week, bright and early on Monday morning for
a money Darry. Have a good weekend, guys, By guys. Bye.
The advice shared on She's on the Money is general
(38:23):
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial.
Speaker 1 (38:39):
Advice tailored towards your needs.
Speaker 5 (38:42):
Victoria Divine and She's on the Money are authorized representatives
of Money showper Pty Ltd ABN three two one is
six four nine two seven seven zero eight AFSL four
five one two eight nine
Speaker 6 (39:00):
He hear
Hello.
Speaker 2 (00:01):
My name is Satasha Nabananga Bamblet. I'm a proud or
the Order Kerni Wholbury and a waddery woman. And before
we get started on She's on the Money podcast, I
would like to acknowledge the traditional custodians of the land
of which this podcast is recorded on a wondery country,
acknowledging the elders, the ancestors and the next generation coming
(00:22):
through as this podcast is about connecting, empowering, knowledge sharing
and the storytelling of you to make a difference for
today and lasting impactful tomorrow.
Speaker 3 (00:33):
Let's get into it.
Speaker 4 (00:34):
She's on the Money, She's on the Money.
Speaker 5 (00:57):
Hello, and welcome to She's on the Money, the podcast
that makes finance.
Speaker 3 (01:01):
Fun, especially on Fridays.
Speaker 5 (01:04):
It is our favorite day of the week because I
get to get my little team together and celebrate you,
our incredible Shees on the Money community. As always, mister
Scricci is going to be sharing our favorite money wins
and confessions from the group. Beck, I don't know, maybe
you've got three broke tips to share with the community.
Speaker 1 (01:22):
I don't know.
Speaker 3 (01:22):
We'll see.
Speaker 5 (01:23):
We've got a juicy money dilemma this week, which is
all about negotiating a better hourly wage and something that
you slid into our DMS about should you move away
from your family and friends so you can buy a
home outright and be completely debt free.
Speaker 1 (01:37):
That's a big decision.
Speaker 5 (01:38):
And I just have a lot of questions about how
you have enough money to buy a home outright? What's
that look like? We need to know anyway before we
get there. How are your weeks? My loves, that's been
good to.
Speaker 1 (01:52):
The exciting happening.
Speaker 5 (01:53):
Just plug it along, yeah, love for you, a bit
of live love, laugh, laugh, living my best sech energy.
Speaker 3 (02:00):
Oh that's so lovely.
Speaker 6 (02:02):
I had gorgeous week I had. My boss told all
of us to take annually. You just putt it nice
and its kind of like if you want a cancer,
because like it's like good for sorry, no different boss,
but it's good for the company apparently if you put
your leave in and so, like I like.
Speaker 1 (02:17):
So they can plan I guess so.
Speaker 5 (02:19):
Or it's like it's financially but it's because companies don't
like you accruing heaps and heaps of leave because it
sits on their balance sheet as a debt. So I
as an owner of a business, like I've got people
in my business, and like Jess has some annual leave
and it sits in my like my balance sheet has
(02:39):
a debt because if just leaves, I have to pay
her out. Yes, yes, so it's actually better for the company,
like if you took some leave, because then they get
rid of some of that debt.
Speaker 3 (02:50):
But they're just.
Speaker 5 (02:51):
Paying your weekly salary.
Speaker 1 (02:52):
That makes sense. Well, I just like sprinkle it across
the ear.
Speaker 5 (02:56):
And so I just like happened upon like set of
you know, smart about my finances when it comes to
being a business. So I'm like, no, I'd never to
make you take leave.
Speaker 1 (03:05):
Don't worry.
Speaker 5 (03:05):
If you want a bank leaf, bank you leaf. If
you want to take your leaf, take your leave. Like
I just feel like that's mean.
Speaker 1 (03:10):
Yeah, that's fair, that's we love a flexible queen.
Speaker 5 (03:13):
Ye just I hate like side note, I just hate
when companies like yep, so mandatory shut down period over
Christmas and then she's almost like two weeks of your
own bloody leave their Christmas shutdown period and then you've
only got two during the year to quote spend on
new Yeah, it just makes no sense to me.
Speaker 3 (03:31):
No, I agree.
Speaker 6 (03:31):
I don't like that at all, but I do like
running to leave that I forgot I had in my calendar.
Speaker 3 (03:36):
So yeah, that's fair. I did that.
Speaker 6 (03:38):
And then my friend held a whole festival for their birthday,
So I sorry, it's just your.
Speaker 1 (03:43):
Friend held a festival.
Speaker 3 (03:45):
For the whole lu festival.
Speaker 6 (03:46):
There was like one hundred dollars prepared for two nights
camping and so oh my gorgeous, gorgeous, gorgeous annually randomly
had this festival, just.
Speaker 5 (03:54):
Been having a great week enough friends to have a
festival iftial for my birthday, it would be me and
just camping, that's what they would call it.
Speaker 3 (04:06):
They would just call it camping.
Speaker 1 (04:08):
I'd rather do that in a hotel if i'm wannest.
Oh yeah too, me too.
Speaker 5 (04:12):
Yeah, Like, let's not get into that because it makes
me seem incredibly out of touch.
Speaker 1 (04:15):
But you're right, hahh No, I completely agree. But no,
so gorgeous week, what about you?
Speaker 3 (04:20):
I love that.
Speaker 1 (04:21):
Nothing interesting to report.
Speaker 5 (04:22):
Our Investing master Class is open, so I have been
spending a lot of time in that, which is really
exciting because, as you guys know, I feel like it's
not a secret. The Investing master Class is my favorite
of all the master classes I run.
Speaker 2 (04:34):
I don't know.
Speaker 5 (04:34):
It's my hyperfixation topic, like it's the.
Speaker 3 (04:37):
Love of my life.
Speaker 5 (04:38):
So I have been focusing on that a lot. If
you dried to sneak in now, maybe you could. It's
like I was meant to close the doors and stop
people signing up, but I forgot to turn that off
on purpose. So I'll leave that open for a little
bit because I keep getting these dms of people saying like, oh,
I've missed out, and like I haven't gotten in, Like
maybe you could just catch up and watch the videos
(05:00):
I've already dropped and just catch up. But I can't
leave it open that much longer because otherwise it's just
not fair on everyone who got in early anyway. So
that's been happening and keeping me really busy. I'm a
bit sad about it feeling colder in the mornings, like
I feel like the coldness is starting to creep back,
and I can already feel my seasonal depression starting, I see.
Speaker 3 (05:21):
Which I'm not adoring.
Speaker 5 (05:23):
But I'm trying to work out how I manage better
this year than I did last year. So I'm working
on that and I'll share updates if I have any gorgeous.
Yes please, Yeah, so easy though, Yeah see I need
to I need to reframe it. And it's cozy as
opposed to cold and wet and miserable. So yeah, I'll
work on that. I just need some more Beck energy
in my life. Would you guys like to bring up
(05:46):
the mood again? A five star review?
Speaker 1 (05:48):
Yes please?
Speaker 3 (05:49):
I'm excited this once from Steph.
Speaker 5 (05:51):
She says, I've been listening to She's on the Money
for years now and it has properly changed my life,
both in terms of my money mindset and in terms
of mogmenting actual items. I've gone from living paycheck to
paycheck when I started listening to having a very healthy superannuation.
I actually moved to Australia at thirty two and didn't
start contributing until thirty six. Very healthy investments and I
(06:13):
saved an entire twenty percent house deposit, all.
Speaker 3 (06:17):
On my own.
Speaker 1 (06:17):
Wow.
Speaker 5 (06:18):
I cannot thank these girls enough for how much they
inspire women to take charge and better their financial situations.
Also low key hoping Beck is regularly investing after all
this time.
Speaker 3 (06:28):
Hah ha.
Speaker 1 (06:31):
Well, thank you for your concern and I am not yet.
Do you have your roundups on though I had to
turn them off.
Speaker 6 (06:38):
Yeah, that's unfortunately, but I'm going to put them back
on next piece cycle.
Speaker 5 (06:43):
Check and actually, how are you going? Are you buying coffees?
Are you not buying coffees? I'm still not buying coffees.
I was thinking the other day, Beck, when I saw
you with a paper cuff in hand, I thought I'd
caught you, and I.
Speaker 1 (06:55):
Said, Beck, is that a coffee that you bought? And
you were like, no, someone bought it for me.
Speaker 3 (06:59):
And I was like, this, sneaky little lady. I have.
I certainly have.
Speaker 1 (07:04):
Oh I forgot my wallet, or I don't have any
money for a coffee. Oh, I'm running lant.
Speaker 5 (07:09):
You just work in our team, and our team I
always like, do you want me to get your coffee back?
Speaker 1 (07:12):
Because you're not me to be buying coffee.
Speaker 6 (07:15):
But you know, I've I've kind of gotten really used
to the flavor of a French press and I prefer
it it sounds boogier, it does seven bucks and came
out and pressing this thing down boom.
Speaker 5 (07:28):
Don't tell them that's career, that's true, that's true. Secret
so they can do it as well. But like such
money Whinger's seven Bucks from came out. That's literally a
late in Glenaris, like be real genuinely.
Speaker 6 (07:40):
Yeah, exactly, yeah when you put it like that, Yeah,
but no I am. I am investing in Cheersias, but
I probably do it like once every few weeks rather
than weekly or how much how often I'd like to
be doing it.
Speaker 5 (07:52):
And that is fine, Like that's the beauty of investing, right,
you can turn it on and off and work out
what works for you. Yes, in a perfect world you're
investing consistently and regularly over time. But like that doesn't
work for everybody. I need to just like segue off
this for a hot second and like talk more about investing.
Speaker 3 (08:10):
Was that hard to do?
Speaker 5 (08:11):
Like are you just are you finding it easy to
turn on and off your investments or that? Because I
think a lot of people go, oh, I don't want
to commit to it because then I'll have to keep
doing it and it'll be hard to turn off.
Speaker 1 (08:21):
No, not all.
Speaker 3 (08:22):
It was so easy.
Speaker 6 (08:23):
Plus I don't think I even had roundups on for
that long. I feel like I just went in because
it would be like literally a button. It's like changing
the settings in your phone.
Speaker 1 (08:31):
Right, Yeah, and it's very it was very fun.
Speaker 6 (08:34):
Like I think, I I don't even remember when I started.
It would have been maybe a year ago, but somehow
I have like I have like.
Speaker 3 (08:41):
Five hundred bucks in there.
Speaker 6 (08:42):
You don't actually, yeah, and I don't even have that
much in savings.
Speaker 1 (08:45):
But there's something about like you got five hundred dollars invested, yeah.
Speaker 6 (08:49):
Because I like, if that was in my savings acount,
I would have so much access to it that would
not exist. But there's something about like having to withdraw it,
and I was like I can't.
Speaker 5 (09:00):
Stor it gets the more you're like, oh I really
can't touch that now. Yeah. Yeah, maybe when it was
like fifty bucks, you'd be like, oh, it wouldn't matter. Yeah,
Like it's five hundred dollars. I can't take five hundred dollars.
Speaker 6 (09:10):
Exactly, and you've got to sell it from all the
different little things you've got.
Speaker 3 (09:13):
It's just too much effort.
Speaker 6 (09:15):
So the best way for me to say, which I
know is not ideal, that's harden emergency fund you do,
but it's just it just works very well.
Speaker 1 (09:23):
So proud of you. Imagine like a year ago when
before you'd started, and you're like, oh, I remember we
spoke about it. I think in a reel or something.
You're like, Oh, I would really like I want to
it something I want to do, but I just haven't
done it yet.
Speaker 2 (09:36):
Yeah.
Speaker 1 (09:36):
And even if you are turning out on and off,
like the fact that you've started and you've left it
in there is such a big step.
Speaker 3 (09:41):
Yeah, thank you so much, queen, Thank you guys.
Speaker 1 (09:44):
I love that for you.
Speaker 5 (09:47):
Speaking of love, let's move back on to what we're
meant to be talking about on the show, and that
is our community. Jess Gricchi, what are the money wins
and confessions that you're bringing to the table this week?
Speaker 1 (09:57):
Oh right, first of this week, I have one from
Risha Well he said money win. I was in Woolworths
yesterday and they had Nappis on sale for half price,
so I grabbed a bag. At the checkout, it scanned
full price and I kindly mentioned it to the checkout lady.
We had a bit of back and forth. She looked
into it, and then I got told that because the
pricing was incorrect, I now got it for free money.
Apparently the same rule applies that Cole's Woolies and Aldi.
(10:22):
Rachelle said she would have been happy to just get
them at half priced. Just get them at free is
a huge win. And then somebody commented who worked at
one of the supermarkets instead. Apparently at the supermarket she
works at, you have to specifically mention the free rule,
So if this happens to you, it might be worth
just mentioning to whoever's checking out, Oh does this mean
I get it for free? Someone also linked a policy
(10:45):
information so how to look into it?
Speaker 5 (10:47):
But I was talking to somebody else and this reminds
me of that. But like when you said you have
to mention it for it to be honored, I was like,
that's sneaky. But phone plans, so like when you call
up and you're asking your phone company for a better deal,
more often than not, they can't give you a better deal,
even if a different company has a lower one, unless
you specifically name drop and go, well, this other company
(11:10):
has it for five dollars less per month. At that
point they can go, okay, well we'll match it, but
they can't match it or drop it unless you like
yeah right, yeah, so good one to your mind, especially
a high tier item.
Speaker 1 (11:22):
Nappies are expensive, so job they are?
Speaker 3 (11:25):
Do you know what I won't say it's.
Speaker 5 (11:26):
A hidden cost, because like you are changing a lot
of nappies, but like I was shocked at how expensive
they are consistently like that you have to end up
nappies formula. All of those things add up, like it's
just and I'm not complaining at all part of the budget, but.
Speaker 3 (11:44):
It's just a lot, especially right now.
Speaker 1 (11:47):
Yeah, so a free one, we love that.
Speaker 3 (11:49):
Yeah seriously.
Speaker 1 (11:49):
Next, I've got money in from Rebecca who said my
children's daycare were updating their outside tweet and therefore rehoming
the old ones to daycare families. They scored a cozy
Cube under.
Speaker 3 (11:59):
Trick for free. The kids are obsessed.
Speaker 1 (12:01):
Now they don't fight over who gets to go in
the car first because they've got one each.
Speaker 3 (12:05):
Yeah that was is so cute.
Speaker 5 (12:07):
I really cozy Coop Harvey is obsessed with his. And
if you don't get one for free from your daycare,
you can pick them up on Facebook market place for
like twenty bucks, or if you like me, you can
pick them up on Facebook Marketplace for twenty bucks and
then spend like one hundred dollars on paint to make
it look like a golf cart. I definitely don't need
to do that second step optional. Next, I've got a
money in from Zoe. He said, her and her friend's
(12:28):
doing a big group trip overseas. She was the first
to book her travel insurance. At the end of the process,
she was given a fifteen percent off discount code to
share with friends, and then every time someone uses this
account code, she would get a twenty dollars gift card
of her choice. So now all her friends excuse me,
get fifteen percent off and she gets all their twenty
dollars gift card. Oh my god, you've gained it.
Speaker 3 (12:49):
Yeah, really is.
Speaker 1 (12:51):
And then lastly, this week, I've got a money win
from Keianni, who said she dropped her car off to
be repaired in an embarrassingly messy state. That is always
me too, and when god, she said, it was a
lovely surprise when she picked it up because it had
been freshly detailed.
Speaker 5 (13:06):
Face that is, it also makes me low key feel embarrassed,
like I'm dropping this car for a service and then
it comes back vacuumed and I'm like, that's so nice,
But it's because it needed vacuuming and probably noticed they
couldn't avoid.
Speaker 1 (13:20):
Yeah, sorry about the empty wrappers. The popcorn, the crumbs,
whatever else you found down there.
Speaker 5 (13:26):
Oh my goodness, well that was a very good rap
of the wag Jess Beck, what are your three broke tips?
Speaker 1 (13:32):
So this first one kind of ties into the nappy thing.
Speaker 3 (13:35):
Oh perfect step.
Speaker 6 (13:37):
Kind of not really, but anyway, I have one from Madra,
who I'm so sorry if I'm saying that wrong, who
says by period pants they're the best things. So you
don't you have to spend money on tampons pads anymore.
I feel like if you even, like, you know, moon
cups and stuff like that.
Speaker 5 (13:52):
I was about to add to that, I have the
period cup from Moxie.
Speaker 3 (13:57):
I'm obsessed.
Speaker 5 (13:58):
Yeah, and it's so love it, like it is the
love of my life. Like and I am not saying
that lightly because I know that a period cup isn't
for everybody, but for me that works so well, Like
and I.
Speaker 3 (14:11):
Love that it's zero waste. Yeah, really good, perfectly exactly exactly. Yeah,
and it's so much easier than you think it is.
Speaker 5 (14:18):
Like I think a lot of the time people go, oh,
that would be really uncomfortable, Like it's not I would
make a video on it. But the entire Moxie like,
I don't know if you guys have seen the Moxy TikTok.
Speaker 1 (14:30):
They have like more.
Speaker 5 (14:31):
Than a million followers because they do these great educational
videos on periods and they're like it's white. Have you
seen like how the period cups fold so like they're silicon,
and like there's like so many different folds you can do,
and like, yeah, you probably do have to get a
little bit comfortable with like your own body to do this.
But like, once I worked out the fold that worked
(14:52):
for me, we are golden. We are good to go
and it is perfect.
Speaker 1 (14:57):
Yeah, and it's just a one soft purchase.
Speaker 5 (14:59):
Yeah, wait until the period cup is on sale because
I believe it's about thirty ish dollars and at Chemists Warehouse.
This is not an ad from Oxy at all, but
like this is I've tried a lot of them, and
I like the silicon on this one best because it's
like the softest, Like it just it squishes more. I
don't know how to explain it better than that it
squishes more and it has this again weird. But you guys,
(15:20):
I'm pretty sure ninety nine percent of our listeners of females,
So you're going to appreciate this. It has this ribbing
at the bottom of the cup, so when you're grabbing
it to pull out, it like has a grip.
Speaker 3 (15:30):
Yeah, we love a grip.
Speaker 5 (15:32):
It just makes sense. So all of that works. But
they often go on sale at Chemist ware House.
Speaker 1 (15:38):
Great to know to see that they sell period undies
at the Chemists now too, you can only get them online.
It might have actually been Chemists ware House. I'm not
one hundred percent sure on that, but.
Speaker 5 (15:49):
I definitely saying them at Chemist whare House. Yeah, and
I saw period undies in the store and I.
Speaker 1 (15:52):
Was like, oh, that's so cool.
Speaker 6 (15:54):
I'm pretty sure I've seen them in the middle aisle
the specializes all Oh, of course.
Speaker 7 (16:00):
I love it.
Speaker 2 (16:00):
I love it.
Speaker 5 (16:01):
And if you're someone who I just feel like giving
it a crack is a good idea because I think
so many times will go oh no, yes, maybe, And
like I've had this discussion with girlfriends who are like,
ill a period cup and I'm like, it is the
love of my life, Like this, I won't go into
it too much, but like I bleed through tampons, like
(16:21):
it's just not a fun time and this just she's tidy,
she's nice. You can change it in the shower. It's
a good experience.
Speaker 3 (16:29):
Absolutely.
Speaker 1 (16:30):
I love your Body Body undies. If anyone wants recommendation Bodybody,
Muddy Body, I think, yeah, the body Body ones are
the way really I have as well? Is that the
one with an eye at the Yeah, I'm od I
think I've seen that.
Speaker 3 (16:41):
Yeah, okay, I've tried, but they're good.
Speaker 1 (16:43):
Good to know, thank you.
Speaker 5 (16:45):
I've tried a couple of other brands because I've been
very grateful to have been sent them before, but you
wouldn't have seen me post about them because like the
Body Body ones very comfortable are the ones that I
have historically been sent to try kind of feel a
little like they have a plastic.
Speaker 3 (16:59):
Lining in them.
Speaker 1 (17:00):
They just like cool.
Speaker 5 (17:02):
I've noticed that and that's not very fun. So like
the mudibody ones don't have that. I feel like there
are one hundred percent cotton and very comfortable.
Speaker 1 (17:09):
Like they don't give that weird heavy one because they do,
which I also we've fully gone off on period, but
they do different flow like there's a lot of medium
heavy or something, and even the heavy duty one.
Speaker 3 (17:21):
It doesn't feel like that.
Speaker 1 (17:22):
Yeah, what I would do at night, I was like
it feels thicker, but it's still comfortable and it's not
crinkly like you were saying, yeah, which I think is good.
Speaker 3 (17:30):
Check it out.
Speaker 5 (17:31):
I love it.
Speaker 1 (17:31):
Great to know how good body body.
Speaker 6 (17:33):
And this next one comes from Meal who says, if
you have a chronic condition, you're likely eligible for an
enhanced primary care plan. They're amazing, five government funded visits
with an allied health professional, example, exercise.
Speaker 3 (17:46):
Very cool things like that.
Speaker 6 (17:48):
So that's great to know if you are currently suffering
from or struggling with chronic health condition, definitely check that out.
Speaker 3 (17:56):
Yeah, very cool. And then this last one obviously is
from myself a my friend.
Speaker 6 (18:02):
So a cheaper alternative for your soda streams of the world,
Billy Bubbles, soda gas refills at your doorstep. I recommend
just having a little Google because soda stream. I love
a soda stream, but I don't think I'm spending I
know it's really bad for the environment, but I think
(18:23):
I'm not drinking enough soda water or soda drinks to kind.
Speaker 3 (18:27):
Of like justify that.
Speaker 1 (18:29):
I am.
Speaker 5 (18:29):
I absolutely am bubbly water every day. We've callt spicy
water in our house, and like I swear it's the
primary type of water I drink.
Speaker 3 (18:38):
Yeah, it's my favorite. I love sparkling water.
Speaker 6 (18:41):
But I just don't know if I'm yeah drinking enough
to warrant that. But I think if you are, or
if you have a soda stream, you're just very environmentally
conscious and you can afford it.
Speaker 3 (18:51):
Yeah, do check out this other one.
Speaker 5 (18:52):
It is, yeah, because they do the refills that fit
in the soda stream and they're just cheaper and they
drop it to your door and that's a win easy.
Speaker 3 (18:59):
I know that because I Billy Bubbles dot Com.
Speaker 5 (19:02):
Well, good work there, go all right, Well, let's go
to a really quick break on the flip side. You
and I are going to have a deep discussion about
negotiating a better hourly wage rate. And you guys slid
into our DMS this week about should you move away
from your family and friends so that you can buy
a whole house outright and live completely debt free? Which
(19:23):
I need a lot of context here, so guys don't
go anywhere.
Speaker 1 (19:30):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 5 (19:36):
Hi, there, have you got a money dilemma you just
can't solve the She's on the money team is here
to help. Every week, we tackle your dilemmas, both big
and small, to answer your most burning money, career and
life questions. To get involved, simply head to our website
and leave us a short voice recording and you might
just find yourself on the show.
Speaker 1 (19:54):
Now, let's take a listen to this week's money dilemma.
Speaker 7 (20:00):
She's on the money. I would love to ask a
question about negotiating a new hourly rate. So I'm an
earth mover, been an earth mover for four years. I
love it, I love the money, I love everything about it.
But I'm listed as a laborer at the moment, which
is a CW three, and I've just been gifted my
(20:21):
very own machine, which is a CW five. There's a
massive difference in the hourly wages there which I would
love to be able to ask my boss if I
can negotiate something in the middle. A CW three and
a CW five has got roughly twenty to twenty five dollars.
Speaker 3 (20:40):
Different an hour. That's a lot of money I'm losing
each week and each year.
Speaker 7 (20:48):
Is there any little way that you've got that I
can maybe ask my boss in regards with negotiating a
new hourly rate. Thanks love you guys.
Speaker 5 (21:01):
Oh my goodness, Oh my goodness, do you I'm not
evening to jump in here barecas shoes?
Speaker 6 (21:06):
She do.
Speaker 1 (21:08):
Actually, this is great.
Speaker 6 (21:09):
This is a great timing because I literally just asked
my boss yesterday. I didn't ask for the exact same thing.
I just said, how do I go about doing this?
And then she said, if you come prepared, And I
feel like Victoria, you would.
Speaker 3 (21:23):
Say this is a similar thing. It wasn't me.
Speaker 5 (21:25):
I'm not the boss, she asked, No.
Speaker 6 (21:27):
Different, boss, come prepared with your I don't really I
don't really like this. I feel like the cost of
living right now is so expensive it should just kind
of be by default. But you come prepared with your performance,
you know, like why you are deserving and all this
kind of thing. Why am I deserving to be able
to afford bond? Soy over the home brand Soy milk ridiculous.
(21:49):
I don't like it anyway.
Speaker 3 (21:50):
I'm literally getting my head is getting tired right now.
I'm very angry. So I don't think that that anyone
needs to do that.
Speaker 1 (21:55):
But if that's what you gotta do, if you're going
to play the game to try.
Speaker 6 (21:58):
And like get by and leave it a little bit
more of a comfortable life. Yeah, I think I would
just kind of do that. I don't really know if
that's I've never really done this, I'm not really. I
would always say, obviously, come prepared. It annoys me that
your boss is like, well, come prepared with your performance.
Speaker 1 (22:13):
She can't.
Speaker 5 (22:15):
My manager didn't do.
Speaker 3 (22:16):
You know, my performance?
Speaker 5 (22:18):
I don't see, like I know, I don't know. I
just have a lot of thoughts and feelings about things
like that, which we will leave for another time. We've
done whole episodes on negotiating your salary, which, honestly, Beck
you should go and listen to. Some of them were
pre you being on the show, and that could actually
benefit you. I know Jess is probably going to have
(22:39):
an answer similar to mine, because I mean we've worked
together for like five years now, which is insane.
Speaker 3 (22:45):
Just what would you do?
Speaker 1 (22:46):
So it sounds like within your role, there's obviously clear
guidelines as to what categorizes you into the different things
like obviously you've said that you've been given your own machine,
which is really exciting, so that puts you in the
high category.
Speaker 2 (23:00):
W five.
Speaker 1 (23:01):
I would just cross check that you're ticking all of
the other markers for a W five because typically when
you have salary bands like this, it's outlined.
Speaker 5 (23:10):
Yeah, there's like what's the word award that's it, or
like ban Yeah, there might be a job description or something.
Maybe you know somebody at that higher job description that
could provide you with their job description, so you could
like cross check, yeah, there's a go to your manager.
Speaker 1 (23:25):
There's a really good guide to awards on the Fairwork website.
There's actually a huge document that outlines every award that exists.
So you can go to their and you can search
by award or you can search by job. It's like
there's a lot of different ways you can filter it
and you can go through and you can find specifically
what the W five is. Cross check that you're taking
all the markers. If you're ticking all the markers, I
(23:46):
would say, don't negotiate.
Speaker 5 (23:47):
Oh we're not negotiating W five babe, Like go for them.
We're not just going for it, We're just letting our
boss know. I think there's been an issue and I'm
meant to be on W five. I actually I feel
bad about it. I checked absolutely everything and I am
so could you just fix that up and see how
that conversation goes, because that's a different conversation than negotiating
(24:08):
to be.
Speaker 3 (24:09):
On a rate that you should already have been.
Speaker 6 (24:10):
On and then get that's a great idea because now
they're in the position where they have to then tell
you you're not and then explain.
Speaker 3 (24:18):
Why you're not deserving of that or why you do not.
Speaker 5 (24:21):
So am I not doing the capabilities that I already
cross checked and confirmed that I do.
Speaker 3 (24:26):
That's great.
Speaker 5 (24:27):
Did you want me to not do those things here
in this business?
Speaker 3 (24:30):
Actually take some things off my plate in that case?
Speaker 7 (24:32):
Yeah?
Speaker 1 (24:32):
Weird. It does change the dynamic.
Speaker 5 (24:35):
And I think as women, we automatically go, I really
should talk to them about this, or you know, in
the nicest possible way, I should negotiate it. Hold on,
there are some things that aren't about negotiating, which we
should have as a good skill. There are some things
that we actually need to just back ourselves and be like, hey,
business like this is actually incorrect and you need to
fix it, and then let them squirm.
Speaker 1 (24:56):
Yeah yeah, but I, as you said, come prepare, do
all you do, diligent, make sure you are to hear
those boxes. If you're not to hear all the boxes
with W five. Then maybe you can name for somewhere
in the middle, or do exactly as Beck did and say, hey,
what do I need to do to get there? Yes,
but yeah, just approaching them.
Speaker 5 (25:10):
Also, you and I we can sit down later, Beck
and we can work out what you can say to
your other boss about getting that pay rice.
Speaker 3 (25:16):
Thank you.
Speaker 5 (25:17):
I will literally be like, okay, cool, So this is
what you're going to take. The first thing I'm going
to tell you to go and find is the Hayes
Salary Guide. So that's downloadable online for free, massive pdf.
You're going to have to control F to find your job, sure,
but my favorite thing about that guide is it's I
think it is the biggest recruitment guide in Australia. And
(25:37):
when I say biggest, I mean it has the biggest
sample size, so the most amount of like people in
its thousands. But you can control F your job, and
then once you find your job, you can then look
at it based on the different states and territories and
then the years of experience and what your salary should
look like. Hy s Hayes oh hellary Guide, and yeah,
(26:02):
go from there. That's something that I've been recommending four
years and it's something that I use. You know, if
I'm looking at pulling a new role into the business,
I'm looking everywhere. I'm looking on seek, I'm looking on LinkedIn,
I'm checking other job descriptions, making sure that you know one.
I'm capturing everything I need to. But is the salary reflective?
And then I go to the Hayes Salary Guide and
(26:22):
work out what would be reasonable and what is like not.
And even if someone comes to me and says like, oh,
I would want salary X, but my salary is higher,
I'll be like, well, your salary is actually worth more. Sorry,
Like I'm not going to pay you less just because
you suggested less. Like I'd be so embarrassed. So yeah,
that for me is like I won't say the Golden ticket,
(26:44):
but a really cool tool. And if you want to,
you could say to your manager and like this is
just side advice. We could write a really nice email
that outlines everything and says, hey, YEP, I took your advice.
I've gone and done my research. I've gotten all of
my stuff together. I wanted to provide you all this
information before our meeting. Here's all the information on my performance.
(27:07):
Here's how I have excelled, because sometimes these conversations are
really hard to have in person, like because you might
fumble it or be really anxious. Right, So we're going
to do this nice email. Also, I've checked the Hay salary.
Glad I've attached it for your convenience, and my salary
could be or should be about here. Let's have a
(27:27):
meeting next week to discuss all of this. So they're
getting all of the information that they need and know
what you're asking for to begin with. And it's literally
what we're saying before about this C five thing. We're
putting the control back in your hands because they're going
to have to come back and be like, no, you
don't do these things. But what you think it was
a five minute email? No, that was a very well
(27:48):
where researched email. To make sure that I'm not sending
you a hopeful I'm being like, hey, cool, you told
me to look at my performance. I actually did, and
I'm above and beyond.
Speaker 1 (27:57):
Yeah.
Speaker 5 (27:57):
Yeah, they have to come back and say, oh, no
we can't and what not. But it puts you in
a much stronger position.
Speaker 6 (28:03):
Gorgeous advice say less baby, Yeah, I love that, thank you.
Speaker 3 (28:08):
That is okay?
Speaker 5 (28:09):
Moving on juicy DM, and I say juicy because I'm
just like, how can you afford.
Speaker 3 (28:13):
A house outright? So would you like to hear it?
Speaker 1 (28:15):
Yes? Yes, Hey, she's on the money.
Speaker 5 (28:17):
We are currently renting out our property to live closer
to my work while the kids are young.
Speaker 3 (28:22):
Fifoux Worker.
Speaker 5 (28:24):
It was never our dream home, but it's a good
house with nice memories. Now prices have boomed and there's
a lot of equity sitting in it. If we sold today,
we'd walk away with six hundred grand cash after expenses.
The thing is, do we sell them buy something else
in that budget? To be debt free To buy the
property we actually want, we'd need to move into state,
(28:46):
away from family and friends, as that's where homes in
our price range are. But being debt free could mean
quitting FIVEFO and being around the kids more while living
in a dreamy location. All the investment strategies say to
use the equity to buy something else renting it out,
but it's not a good rental. It costs more than
it makes, and then we just have more debt. What
(29:06):
would you guys do?
Speaker 6 (29:08):
I wouldn't ever prioritize It really is a struggle because
both what I was about to say was like I
wouldn't prioritize something over a lifestyle or like, But then
I guess either scenario is lifestyle. It's like spend time
with your family and don't have to work as much
and move away from your friends and all.
Speaker 3 (29:29):
That kind of stuff. But I'm just sure there's a
middle ground. Like say, for example, we're here in Melbourne.
I could not with that money be able to.
Speaker 6 (29:38):
Afford a four bedroom house in Brunswick, but maybe I
could in Reservoir. I'm not that far away from my friends.
And maybe I'm not buying it outright. Maybe I've just
got a two hundred thousand dollars mortgage. I'm just I
don't know if that's actually how it works, but a
smaller mortgage, just like you don't have to you don't
have to go buy it completely out right.
Speaker 1 (29:58):
Just get somethings, maybe even a lit do.
Speaker 6 (30:00):
We more than that, and you can be close to
your friends and family, you don't have to work as much,
you spend time with your kids.
Speaker 1 (30:06):
Like everything's good.
Speaker 6 (30:07):
Maybe just get like a part time job, also like
not working at all, Not that that's what they're suggesting,
but it sounds great, But when you're sometimes you and
you leave for too long and you're like, I'm desperately
bored and sad and lonely, and so there might be
this nice balance in between that we're not looking at.
So you know, have a look at places around you
just slightly outside your zone, but you're close to your
(30:29):
friends still, and you're close to your lifestyle. You're close
to the schools, and you're close to everything you know,
and even if you need a little mortgage, it's okay?
Speaker 5 (30:39):
Is that right?
Speaker 3 (30:40):
Am I right in saying that? Is that a possibility
that you get a little mortgage to something?
Speaker 1 (30:43):
Yeah?
Speaker 7 (30:44):
Cool?
Speaker 1 (30:44):
Yeah, it's all dependent on what they purchase. So as
to say our listeners saying that they to purchase a
home within their price range their meaning within the cash
that they have, so at around the six hundred thousand
dollar marks. Yeah, obviously we don't have any context as
to where you live or any insight into you know,
what distance is at what the price is. You know,
can you move The example you gave here Beck is
(31:05):
you move, you know, maybe half an hour away from
your ideal location, but the price range drops significantly. We
don't really know what that looks like for our listener. Yes,
that's I would say, you need to consider how reliant
you are on your network, like your family and your friends.
Because if you're someone who has you know, mom and
dad look after the kids a couple of days a week,
we're having dinner, you know, once or twice a week
(31:27):
with our friends, We've got all our regular catch ups.
I think moving away from that would be a lot.
Whereas if you find that because your five fo perhaps
you're already a little bit more isolated, the move may
not be as taxing on you, or it may not
be as hard to move away from that circle. It's
really going to depend on, like how closely I guess
you're leaning on everybody. You said that your ideal or
(31:49):
dreamy location. In my mind, I'm picturing you moving to
like a beach somewhere, right, Like you're moving from like
a city or a countryside town to like a beach
or something like that. And so I guess you also
have to weigh up, like the lifestyle that you would
live in this new location again against the loss of
your proximity to friends and family starting over, it might
(32:10):
be exciting for you like you might like the challenge.
You can make new friends in new places, Like, It's
not as if you move away and you never talk
to anybody ever. Again, family is a little bit trickier obviously,
but it really depends on you in your situation. I agree, though,
I think that being debt free is a really great
appealing thing, and I'm sure many of us would love
to never have any debt when it comes to our property.
(32:32):
But if you have that six hundred thousand dollars in cash,
you could potentially take a small loan with very minimal
repayments compared to what you would are paying currently and
have Yeah, that middle ground where maybe you're still within
the state or driving distance, maybe you're a couple hours
away from the people you love, but also in a
(32:53):
property that you love as well. Yes, I feel like
we don't eve enough details to really be able to
lack fully.
Speaker 3 (32:58):
Do you know what I mean?
Speaker 2 (32:59):
Yeah?
Speaker 3 (33:00):
No, I totally get it.
Speaker 5 (33:01):
I am like, I've been looking at it and thinking
about it, and you've just told me that essentially you
have six hundred thousand dollars in equity. Get financial advice.
Go sit down with a financial advisor and talk about
your lifestyle goals, what you want to achieve, what that's
going to look like. You know that you do want
to work less. What income requirements you have in the future, Like,
(33:23):
just being completely debt free doesn't mean you don't need
income coming in the door. Like just because you have
a house fully paid off doesn't mean you never work
a day in your life again unfortunately, Yeah, so what
does that look like? Because a financial advisor could sit
down and be like, okay, cool, well let's do some projections.
And as an ex financial advisor, this was one of
my favorite things. Like we would do projections based on
(33:44):
different scenarios, so then we could pick the scenario that
made the most sense based on that projection. So we
could project you staying in that property. We could project
you renting out that property. And I know that you're saying, oh,
that property costs more than it does yield in rent income,
which is fine, but like, what would that property be
worth in the future. What are your capital gains on
(34:06):
that property? You know, what are the selling costs? Back
to what you were saying, Jess, like what would childcare
look like like? All of those additional things, Because yes,
you want more freedom and flexibility, but just being completely
debt free today might not actually put you in the
wealthiest position. Long term debt free fantastic sounds incredibly sexy,
but if you've got thirty plus years of working left,
(34:30):
like are we investing? Like? How are we creating long
term wealth? Because extinguishing debt doesn't necessarily mean that that's
the best decision for you. Like I know that with
my mortgages, if you just extinguished one today, that like great.
Speaker 3 (34:45):
No worries.
Speaker 5 (34:45):
I'd love to be quote debt free on my mortgage,
But like, what am I doing with that income that's
coming in now? Like that would be the question. If
I don't have a mortgage, how am I creating wealth?
Speaker 2 (34:55):
Like?
Speaker 5 (34:55):
Am I investing it in the share market? Am I
buying another property? Am I building another business?
Speaker 2 (35:00):
Like?
Speaker 3 (35:00):
What do all these things look?
Speaker 6 (35:01):
Like?
Speaker 5 (35:02):
That's the question, not should I just move and be
completely debt free? Yes, you would get more time with kids,
and I totally get that because as a mum, I
want to spend the most amount of time with my baby,
but I also need to pay his school fees in
the future. I also need to create a lifestyle where
my husband and I can comfortably retire so that maybe
(35:22):
one day, when Harvey decides to have kids, I can
afford to give child care to my kids. Like, there's
a lot to think about, and that's probably not the
sexiest of answers. But if you are telling me that
you have six hundred thousand dollars in equity in your property,
I promise you have the cash to pay a financial
advisor in the best possible position.
Speaker 3 (35:45):
That's a great point.
Speaker 1 (35:45):
Whatever Bill say.
Speaker 5 (35:46):
Okay, So there was a lot of opinions. So first
question we asked what would you do in you're in
this situation. Forty five percent of you said I'd sell
and be debt free. Twenty eight percent of you said
sell and get a new mortgage, three percent of you
said hold and use equity to invest in. Four percent
of you said keep renting and wait it out. We
(36:06):
then asked, would you move into state away from friends
and family if it meant being mortgage free and quitting
five fo to be with your family. Twenty six percent
of you said yes, it would one hundred percent be
worth it, Forty six percent of you said maybe it
would be a hard call, and twenty seven percent of
you said no, I could never leave my support system.
We then said what is your two cents? And we
(36:27):
had a number of good comments. So first comment said,
five FO is very challenging as a lifestyle. I've been
doing it for nine years. It's not for the faint hearted.
That's a great point, very true. But also what does
that lifestyle exchange look like? So, yes, you're changing five
FO and it is not for the faint hearted. But
often with FIVEFO you've got like five on, five off
(36:49):
or whatever that might look like. Is that a value
to you?
Speaker 1 (36:53):
Like you enjoying that flow?
Speaker 2 (36:54):
Do you know what I mean?
Speaker 5 (36:55):
There's just so much to weigh up. Someone else said,
just toss a coin, the disappointment or the euphorio you
feel that the answer is going to tell you, oh great,
cal I do like that.
Speaker 1 (37:07):
That's why I said it that way.
Speaker 5 (37:10):
That way I think I did a funny Next person
said it's important to weigh up the other costs of
living away, which might not just be financial. Another person said,
my husband and I are working in the defense force.
We'd sell and move in a heartbeat for more family time.
Speaker 1 (37:26):
It's fair.
Speaker 5 (37:27):
Another person said, we moved, We're never going back. We
love our new home and our disposable income to visit
our family when we need, which is really coy and
I have no more to share with you. The next
one is you won't have that time back with your
kids if you're debt free, maybe you could save again.
And the last person said, you need to consider what
the job market.
Speaker 3 (37:47):
In that new area looks like. Great point. Yeah, great point.
Speaker 5 (37:51):
That's good and I feel like that's a really great
place to leave it. Interesting question, not as juicy as
I thought. I was like, what are you doing to
be completely outright, and the answer ended up being equity,
which honestly makes.
Speaker 3 (38:01):
A lot of sense.
Speaker 5 (38:03):
We're like yolo. Anyway, it has been a good episode, obviously.
I love hanging out with you guys. But we'll see
you next week, bright and early on Monday morning for
a money Darry. Have a good weekend, guys, By guys. Bye.
The advice shared on She's on the Money is general
(38:23):
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial.
Speaker 1 (38:39):
Advice tailored towards your needs.
Speaker 5 (38:42):
Victoria Divine and She's on the Money are authorized representatives
of Money showper Pty Ltd ABN three two one is
six four nine two seven seven zero eight AFSL four
five one two eight nine
Speaker 6 (39:00):
He hear
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