What would you do if you had the chance to build your dream home, but your name wasn’t on the title? This week, we’re unpacking a dilemma that’s equal parts dream opportunity and legal nightmare. Plus, we hear from a listener who is pushing herself to the limit because the money is just that good. But what happens when the hustle leaves you physically unwell, emotionally drained, and one shift away from total burnout? It’s a classic Friday Drinks: a little bit unhinged, a whole lot real, and packed with the kind of fun that still makes you smarter with your money.
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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 Sanatasha Nabananga Bamblet. I'm a proud yor
the Order Kerni Whoaltbury 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 impact for tomorrow.
Speaker 1 (00:33):
Let's get into it. She's on the Money. She's on
the Money.
Speaker 3 (00:57):
Hello and welcome to She's on the Money podcast that
makes personal finance fun, especially mainly on Fridays.
Speaker 1 (01:04):
Welcome back.
Speaker 3 (01:05):
It is our favorite day of the week because we
get to get our team together and celebrate you ow incredible.
She's on the Money community, mister Griccy. She's here with
our favorite money wins of the week. Beck has gotten ready.
She's got three broke tips for us, and we're going
to be helping to answer a money dilemma, which this
week is all about what do you do when chasing money?
(01:26):
Starts affecting your health and something that you slid into
our DMS about what do you do when pouring your
savings into a house when your name isn't even on
the mortgage all but before we get them is just
a greachy. Miss Beck's sayed, how have your weeks been?
Speaker 4 (01:43):
Nothing very exciting this week, just plodding along, live life,
loving any.
Speaker 3 (01:49):
And crafts, any side projects. I feel like you've always
got something on the go, Jessica. Yeah, I'm trying to.
Speaker 4 (01:55):
I don't think I do at the.
Speaker 1 (01:56):
Moment about the sewing machine. Where's the sewing machine gun?
Speaker 4 (01:58):
I did think about this very resales. Oh I've done
that thing where I like got the hobby and then didn't.
But I want to say myself a new tote bag
for ballet. So that's I've cut the pieces.
Speaker 3 (02:07):
I just need to sew the piece. Okay, we're halfway
through a project. But I also think of sewing machine
and that skill. Yes, it might have been a hobby.
Having it means like you can whip it out, you
can hem some pants.
Speaker 1 (02:17):
Totally.
Speaker 3 (02:18):
Yeah, I feel like it's a good investment. It's not
like my polymer clay addiction, where I went and bought
every single color of polymer clay and started making these
teeny tiny little jelly cat like creations. And that's been good,
but like, I haven't done that in a long Yeah.
Speaker 1 (02:35):
So yes, that's a bit different to a sewing machine,
but they were. It was fun. That lasted. Look, it
was fun. Well that lasted, and I'm sure I'll go
back there at some point. I just like it.
Speaker 3 (02:43):
I can like literally copy things. Yeah anyway, don't come
for me and seeming jelly cat like I can't afford
your soft toys anymore.
Speaker 1 (02:51):
Yeah, like what the hell? Why are they so expensive?
But they're so cute.
Speaker 4 (02:57):
C there's a little fuzzy peach one that I want
to get for my because I'm like, it's so unbrain
I tried to.
Speaker 3 (03:02):
Buy that for me the other day and it sold out.
The twenty twenty five fuzzy Peach one adorable. I saw
it in the shop meet Meek in Chadstone, and I
remember being like, oh my god, that is so jess.
I should get that, and then like didn't think about it,
and then I was like, nah, I am going to
go back and get.
Speaker 1 (03:19):
That, and it was like were like, oh no, we
sold out of that.
Speaker 3 (03:21):
So I was like, this is my life mission. I
will turn up with a fuzzy peach for you sometimes
I will. I will have it, I promise. Is everyone
waiting for the mozzarella ball to come out? Oh my god,
the past but not the past one. It's got like
a little bray. I think it's made it happen.
Speaker 1 (03:41):
To stop it.
Speaker 5 (03:42):
It's a little berat Morella.
Speaker 6 (03:43):
I can't really remember what it looks like now, but
but that's been waiting for a year, you know what
I was thinking about.
Speaker 4 (03:48):
Jelly Cats are the modernday beanie kid. Because I was.
Speaker 1 (03:52):
A beaty kid kid. I had bed hundreds of them.
Speaker 3 (03:54):
Beck, you didn't come to the Sheese on the Money
Christmas party. But I don't know if we told you that.
We did a past the parcel because like She's on
the Money Christmas party, Like we don't just want to
sit there informally talk about our work performance, like we
had fun.
Speaker 1 (04:08):
We did pass the parcel, but in every.
Speaker 3 (04:10):
Layer of the past the parcel was a jelly cat
ring and then in the middle there was a big
Christmas themed jelly cat. Yeah.
Speaker 4 (04:19):
It was so my god, maybe it was you were right.
Sometimes I ended up with two, so maybe you should
have the other one. I think, yeah, you had a
Christian on my bag. And then I have the Turtle,
which I actually think is very on brand. His name's
Timmy Turtle. He's got my face you next week, I
reckon you love me?
Speaker 1 (04:38):
You could sell that's sod.
Speaker 5 (04:41):
That is so cute.
Speaker 1 (04:42):
You're so cute.
Speaker 5 (04:43):
Thank you so much.
Speaker 1 (04:44):
But we never passed the parcel and it was a
lot of fun. It's the best thing ever.
Speaker 3 (04:48):
It was actually very funny, though I'm sorrying our producer
Emma under the bus because I don't think Emma understood
how cool jelly Cats were or that there was like
a cold following and she got the big one in
the middle and everyone was like, I listed an addition
like Christmas tree, and then Emma's.
Speaker 6 (05:03):
Like, cool, no, it's wasted story above her.
Speaker 3 (05:10):
She's in the room with us, so we're not like
throwing shade while she's not watching.
Speaker 1 (05:14):
But would you guys like a five star review? Yes please?
Speaker 3 (05:19):
I am ready this person's username She's on the Money fangirl, Oh.
Speaker 1 (05:25):
Life changing podcast.
Speaker 3 (05:26):
I started listening to She's on the Money during COVID
and Binge listened to all the episodes I had missed
and Vic and team you have truly changed my life.
Thanks to Vic's advice on one of the earlier podcasts,
my husband and I made the decision to take out
additional insurance AKA I forced him one day because he
was a typical treaty that thought he was invincible, hoping
(05:48):
we'd never have to use it. Sadly, my husband was
badly injured at work, but one of the few silver
linings in such a tough time was that his TPD
insurance was paid out.
Speaker 5 (06:00):
Oh wow.
Speaker 3 (06:00):
Because of that, we are now a young family who
is completely mortgage free. My husband is still recovering, but
this has helped ease our stress immensely, meaning we can
focus on him.
Speaker 1 (06:11):
Rather than having the added.
Speaker 3 (06:12):
Stress of can we afford to pay our mortgage over
this expensive time in our lives.
Speaker 1 (06:17):
Wow, I'm really sorry.
Speaker 3 (06:19):
That is so trashy, and like, I love that you
shared that, because insurance to me is so important. Like
when I was working as a financial advisor, you see
the worst of the worst, Like it's everyone who says
this will never happen to me, and like invincible tradees
all say.
Speaker 1 (06:37):
Yah, help me right, it will never happen to me.
Speaker 3 (06:39):
But then something does happen, So get your insurances in
order that as much as I want none of this
to happen to any of you, when you write in
and say we listen to your podcast and we were
covered for that girl, your mortgage free, like the stress
that would have lifted. Oh, I love that for you
at the same time as hating that you had to
go through through that.
Speaker 1 (07:00):
Sending lots of love to you. But thank you for
that review. That was so kind. Yeah, thank you so much.
Speaker 3 (07:05):
If any of you want to get your insurances sorted,
I'm going to put a link in the show notes
to Sky Wealth because they are going to get it
sorted for you in a very cost effective way. Anyway,
moving on, my friends is just grichy. Can we have
the money wins of the week? Absolutely you can.
Speaker 4 (07:22):
Firstly, this week I've got a money win from Maddie,
who said she asked her private Health if they could
offer her any deals as Booper were currently running a
six weeks free someone mentioned this in the group. She
saw it, so she hit up her health insurance. They
gave her twelve weeks of health insurance for free. She
said it saved so isn't that crazy? So again reminder
(07:44):
ask you know mentioned maybe that Booper are running that
promotions weekend?
Speaker 1 (07:47):
Yeah, because that is wild.
Speaker 4 (07:49):
Yeah. Next, I put the money win from Jess, excellent name.
She said she went to wash her car on half
priced day to try and save some money.
Speaker 3 (07:56):
I didn't know that existed, but like cool, very is
very expensive.
Speaker 4 (08:02):
But Jess drove into the bay and the time I
still had thirty minutes on it. So she washed her
car for free.
Speaker 3 (08:06):
Oh God, my brain and somebody who lives on the peninsula.
When she said I drove into the bay, I'm like,
would you do that?
Speaker 1 (08:16):
You drive into the ocean?
Speaker 4 (08:18):
Yeah, that'll clean it. I have a very good example
of that. For our next one, I've got a money
in from Wander he said, definitely a money win. I
was in a coma over my spending and transferring too
much out of my emergency fund into ETFs. I've been
more mindful this month after exporting my transactions into a
spreadsheet and have managed to have my spending mostly just
by being mindful on spending food and now I can
(08:38):
focus on rebuilding my emergency account. But Samantha commented under
that and said, I didn't read the whole post and
just read coma and thought, yeah, that's a good way
to save money. Made was she actually no, so she
is just a turn of phrase. Like I was in
a promar I was sick over my spending something.
Speaker 1 (08:57):
I see. I was like, oh my god, that's hilarious. Well,
I guess he very me coded, like just skim reading
something and being like.
Speaker 4 (09:07):
Whoa, next, I've got money. Went from Cassandra, who said
she got petrol for a dollar fifty two per litera
which included four cents off the majority of plays at
the time in the area where a dollar seventy five
at least. It makes me cringe though, because I now
I'm like, wow, do you like to do that?
Speaker 1 (09:25):
So good? I remember when I wouldn't pay over a
dollar twenty so expensive? I remember, so.
Speaker 3 (09:30):
I remember back in university, I used to have this
very old and very loved Toyota Avalon, so very similar
to a Camri but like the Grandpa version, and it
had been converted to LPG, and I remember it was
like forty five cents a litera to fifty cents a liter.
And I remember being like fifty cents a liter that's
cooked that's so expensive, girl, what what? Why did you
(09:54):
ever get rid of that car? Like that car was
the best thing since slice bread. So many questions about
the car, but I know we probably yeah, we'll talk
about it later.
Speaker 4 (10:04):
I think the next I've got money in from Kate
who said her old Macpack backpack got repaired free of
charge because the zipper pocket stitching had started coming undone.
Do you know what's a sligh you being able to
get that out of your mouth?
Speaker 1 (10:15):
And that the Macpack?
Speaker 4 (10:22):
But she said, thanks Mackpack having a great policy save
this from landfill.
Speaker 1 (10:26):
I love that.
Speaker 4 (10:27):
But idea to I know that Patagonia have a really
good repairs policy. I think Lula Lemon as well, So
like maybe when you're shopping for things checking what places offer,
you know, maybe you pay a little bit more upfront,
but if they have a really good, you know, quality policy,
it's hard money.
Speaker 1 (10:44):
Leggings replaced from Lulu Lemon.
Speaker 3 (10:47):
I've also had them taken up for free from Lululemon
because sure, girl problems like you can buy any length
of them and they will shorten them to what you need.
And I have also had like stitching on one replaced
for free for free.
Speaker 6 (10:59):
Amazing, and Lulu Lemon is eighteen percent cash back on
trip back. Oh it was, I don't if it's still amazing. Lastly,
this week, I've had a moneyment from Eve who said
she's been completing the my Medibank Live Better challenges religiously
over the last few months. Every day she's got herself
a pair of AirPods coming that she didn't have to
(11:19):
pay a cent for money good for me, and a
nice treat when points add up. So if you're a
Madibank customer, might be worth looking into that program. I
think it's similar to the Quantus Wellbeing program.
Speaker 3 (11:30):
It's very cool and you're already doing the activities anyway,
and it's a good motivation too. You love it, Queen,
Miss Jessica, and she miss beck Si Yet I want
your three broke tips. I want him hard, I want
them fast. I want to know what, yes, ma'am.
Speaker 1 (11:44):
Okay.
Speaker 6 (11:45):
So this first one comes to my friend who is
I didn't realize, but a lot tighter than I thought.
Speaker 1 (11:52):
I mean, but I like this.
Speaker 5 (11:54):
Yeah, she's a budget queen. I didn't realize it's.
Speaker 3 (11:56):
Actually secretly frugal, secretly frugal, Yeah exactly, But she did
run through so many things that I probably can't share.
Speaker 6 (12:05):
On the podcast, but that's okay, But the ones that
I could. She said that some vegetables and fruits, fruits
and vegetables it's.
Speaker 5 (12:12):
Weird saying the other way around, it's not right.
Speaker 1 (12:14):
And fruits fruits.
Speaker 6 (12:17):
She said that some of these don't have to like
it's more expensive to buy organic, but you don't need to,
is what she's saying. So things that like, you know,
thicker skins, like for example, banana, avocados, mushrooms are some examples.
I don't really understand the mushroom thing because there's.
Speaker 3 (12:31):
No skin, and also there's like a lot of mushroom
drama going on right now.
Speaker 5 (12:35):
There is a lot of mush and druma.
Speaker 6 (12:36):
My friend is actually right now she's doing the doco
on that.
Speaker 1 (12:41):
That's very good. No, no, don't say anymore. Don't say anymore,
very exciting.
Speaker 6 (12:46):
So that's a good tip though, Yeah, good tips. So
some things don't need to be organic, so just have
a little Google before you go. If you are buying
things organic, just double check that it's worth.
Speaker 5 (12:56):
It to just buy the regular.
Speaker 7 (12:58):
And my other tipcums I add to your fridge vegetable
broke tip absolutely so, like I am now a parent
that has to financially recover from buying so many damn berries.
Speaker 3 (13:12):
My son loves to eat berries, and I buy a
lot of them. Yes, we go through them relatively quickly.
But I learned to tip on TikTok that if you
fill a bowl with water and add a good splash
of vinegar and then your berries in and rinse them in,
that your berries will.
Speaker 1 (13:27):
Last three times longer.
Speaker 3 (13:28):
And I tested it and it worked like I ran
a full controls thing in my fridge. Yea, I like,
did one punnet of raspberries that I didn't wash and
one punnet that I did, And yeah, the one that
I did lasted so much longer, and the one that
didn't like had mold on it by the end of
the week. So wash your vegetables and fruits in vinegar
(13:50):
to make them last longer.
Speaker 7 (13:51):
Wow.
Speaker 1 (13:52):
I think that's a.
Speaker 3 (13:52):
Good one, right, That is a really good one, especially
like berries and stuff, because vinegar is safe to consume.
Speaker 1 (13:58):
But vinegar also killed mold.
Speaker 3 (14:01):
That's why you should wash your shower and stuff with vinegar,
not with bleach, because bleach doesn't kill mold. Spores vinegar does,
so the science science.
Speaker 1 (14:09):
Is behind it. Yeah, yeah, soft, I don't know why.
Speaker 3 (14:15):
Instead of your fabric Softna, it's we didn't take over
from your broke tips if you don't continue.
Speaker 5 (14:21):
No, no, I'm really happy with But like, does it
make your close?
Speaker 1 (14:24):
I use it? God, that is everything.
Speaker 3 (14:27):
Maybe we should do a whole segment what does VD
use vinegar for?
Speaker 5 (14:32):
And you know what dipping a hot chip.
Speaker 6 (14:34):
In the restaurant remaining Ye're delicious? Okay, So this next
one comes from my partner's sister. Currently, I'm sure we
all see these, like whenever you go to uber eats
or something and it always pops up uber one, Uber one.
I don't want uber one, okay, I don't want to
know that I'm using it so often that this will
be beneficial for me.
Speaker 1 (14:52):
But right now uber one.
Speaker 6 (14:54):
Basically what happened was the other day my partner and
her went to the movies and they got twelve dollar tickets,
unlimited popcorn, free refills.
Speaker 1 (15:02):
So it was, what is that about?
Speaker 3 (15:04):
And it's expensive free refield that's exactly right, And so
I stole a ticket.
Speaker 1 (15:08):
So are we living in two thousand and nine?
Speaker 3 (15:10):
I know?
Speaker 5 (15:10):
And so I was like, how did this happen?
Speaker 6 (15:12):
And she said because she joined uber one and it's
I'm assuming if I'm a.
Speaker 1 (15:16):
Member of uber one, can I please have access? Yeah,
it's I think.
Speaker 5 (15:18):
It's it's running ntil September, so.
Speaker 1 (15:20):
Right, I get so I can access it? Yeah, you
can access it.
Speaker 3 (15:23):
Money When is that? So you're saying you're enabling my
uber eats habit. Yeah, thank you, that's very kind. Money
tip my broad tips. Sorry Jess comes with money tips,
you come with broake tips.
Speaker 5 (15:36):
I do am I one this week.
Speaker 6 (15:37):
I'm so sorry it is only for the Melbourne people,
but I'm sure there is an equivalent elsewhere. As I
always say, so, A restaurant has opened up in Brunswick East,
brand new restaurant.
Speaker 1 (15:50):
It's a wine bar.
Speaker 6 (15:50):
Sorry I should say it's called Times New Roman Bar.
Speaker 4 (15:55):
I love that name.
Speaker 1 (15:55):
I know isn't cute.
Speaker 6 (15:57):
And they're doing very very cheap eat. So for example,
these people got their bread which was three dollars Barada
and pickles six dollars Barada. I've never seen Barada under
seven hundred dollars, so.
Speaker 1 (16:10):
Barada seen in under one thousand dollars, so that makes sense.
And then they're like tiny.
Speaker 6 (16:15):
Totally and a half port of passes six dollars was
like a really lovely part of it happens to the Roman.
Speaker 1 (16:21):
Is such a good name. Yeah, I'm still stuck on that.
Speaker 3 (16:24):
Is there a bark or comic sands or is that
not cool? I think that that could be Windings, Windings.
Speaker 6 (16:31):
I'm sure there's Windings. No one speaks any language in Winding.
They just took like simmish. Yes, So that is my
break tap this week is that if you live in Melbourne,
if you can access it, try and hit up times
in your Roman bar and get very cool food.
Speaker 1 (16:46):
I love it. Let's go on a date there.
Speaker 3 (16:48):
Yeah, all right, let's go to a really quick break
because on the flip side, we're going to be talking
about what do you do when chasing money is starting
to impact your health and something that you slid into
our dams? But what do you do when you're pouring
your savings into a house and you're.
Speaker 1 (17:03):
Not even on the mortgage. So guys, don't go anywhere.
Welcome back, everybody.
Speaker 5 (17:11):
Let's take a listen to this week's money dilemma.
Speaker 1 (17:16):
Hi, there, have you got a money dilemma? You just
can't solve that? She's on the Money team is here
to help.
Speaker 3 (17:22):
Every week, we tackle your dilemmas, both big and small,
to answer your most burning money, career and life questions.
To get involved, simply head to our website and leave
us a short voice recording and you might just find
yourself on the show. Now, let's take a listen to
this week's money dilemma.
Speaker 8 (17:41):
Hey, She's on the Money. I am currently twenty one
years old and I'm a disability support worker. I have
recently started a new job and at the time I said, yes,
give me whatever hours you can. I'm happy to work,
you know, big hours. Anyway, fast forward are doing fifty
to sixty hour weeks, sometimes seventy and starting to take
(18:04):
a toll on my health. I've started throwing up of
a morning every day, feeling nauseous all the time, and
I don't know what to do because the money is
so great, but it's starting to take a toll of
my health.
Speaker 3 (18:18):
Please help, oh girl, girl, we need to do something
about that, because that is no way to live.
Speaker 2 (18:23):
Like.
Speaker 3 (18:23):
Don't get me wrong, people are going to be listening
to this and go, well, I work fifty or sixty
hour weeks and that doesn't happen to me. Sit down,
your privilege is showing because when you are a disability
support worker that is so physically and mentally taxing that
it makes sense you are not physically well, but like
care about yourself because if you are not putting yourself
(18:47):
first in this situation, you're going to burn out real
quick and then you won't be able to earn money
for ages. Like I know that you're like, oh, I
don't want to step back from it, But if you
don't step back now and actually put yourself first, you
know what's going to happen. You're gonna burn out and
then you're gonna have no job because you won't have
the ability to work.
Speaker 5 (19:04):
Yeah.
Speaker 6 (19:05):
I think that if you literally cannot survive without doing
that many hours, that's probably a different conversation. You probably
need to look at either getting like a pay rise
or a whole a whole new job. But if you
can survive off less hours, but you just are really
really happy with the money that you're getting and you
(19:27):
feel like you're getting ahead, I totally get that feeling.
But maybe just try and either see if you can
like condense your days. Maybe you could do like four
ten hour days. Which is very, very very tiring, or
try and like work out a way that you can, yeah,
just kind of condense your days or hours. But I
(19:47):
can't imagine that any workplace would find an issue with
you being like, hey, can I not literally work twenty
four to seven. You will be able to ask for that,
I would say, And if they don't allow that, you
got to go somewhere else because it's absolutely not worth it.
No amount of money is worth it.
Speaker 4 (20:03):
Yeah, there's no point earning all the money if you're
then so unwell that you can't spend it or enjoy it.
There's like money is it's counterintuitive, but like it's not
the most important thing. Like obviously, to a point, we
need money to be able to exist in this world,
to put a roof over our heads, et cetera. But
if you're not able to enjoy the fruits of your labor,
what's the point exactly? I think the Yeah, like, as
(20:26):
you were saying, I'm sure that if you spoke to
whoever's in charge of your scheduling and just said, you know,
I know that I said I wanted lots of hours,
and I'm so thankful you gave me lots, But it's
just taking a toll on me. They're probably just loading
you up because they're like, well, we've got someone who
wants to be loaded up, so take all the hours.
But if you said, hey, like it's having an impact
on me, I'm unwell, any considerate person would be like,
(20:47):
no worries, Like we can you know, help.
Speaker 3 (20:48):
A safety issue as well, because you're not well and
you're taking that unwell body to work, something's going to
happen to work.
Speaker 1 (20:55):
Yeah, definitely.
Speaker 4 (20:56):
So I think, yeah, it's pretty clear from all three
of us it seems.
Speaker 1 (20:59):
Really don't do that money. It's not worth it at all.
Speaker 4 (21:02):
You've got to look after yourself. You can't pour for
an empty car.
Speaker 5 (21:05):
It was just about to say that discorrectly.
Speaker 1 (21:07):
Wow, exactly.
Speaker 3 (21:08):
Also, I know that all of our advice is like,
you know, step back, it's not worth it, right, Maybe
you're thinking, well, I think it's worth it. I think
we need to look at the bigger picture as well,
because if you're working that many hours, how are you
supporting your health and well being outside of those hours,
Like are you still going out? Are you, you know,
(21:29):
not nourishing your body in the way that you should?
There are probably if you're going to continue this amount
of hours and you're like, oh, well, how do I
look after myself? Because like, go, I'm doing it whether
you like it or not. How are you, you know,
getting up in the mornings, are you getting enough sleep?
Like how do we prioritize looking after our body in
the moment, Because for a lot of us who are
(21:49):
in these situations where we are earning so much money
and we're well, we can't step back because I'm paying
off debt or I'm putting a roof over my head,
or i have kids, or I have all of the
Victoria's not we can't just step back and be like, well,
so the money's not worth it and flip our hair
over our shoulder and be fine with it. Like how
are you making sure that your body is in the
best possible position at the moment, Like I don't believe
(22:10):
that every single.
Speaker 1 (22:11):
Thing can be imbalanced right now.
Speaker 3 (22:13):
So like getting enough sleep, putting the right nutrition into
your body, you know, fostering positive relationships around you. Have
you got people that you can talk to about this,
because that will make the load feel even lighter, Like
what support is available to you? So like just hitting
the nail on the head with that as well. But ultimately,
if you're in that position where you can step back,
(22:33):
that's what I would be doing, sitting.
Speaker 1 (22:35):
Lots of love. I hope you look after yourself my.
Speaker 3 (22:37):
Life absolutely all right, guys, do you want to get
into the juicy DM we got this weekly. I'm excited
you said yes because I was going to do it anyway.
So this week our DM high shees. On the money,
I have a financial dilemma or question. My in laws
have offered for us to build on a block that
they have in an area we would never be able
(22:57):
to afford to buy in. We would just need to
pay for the mortgage repayments for the cost of the build.
It's financially a great opportunity, and I have a great
relationship with my in laws. However, the block is not
in my name, and so the house and loan will
also not be in my name, and we will be
pouring our savings into them. It is in their will
(23:18):
that it will go to my partner and I, but
until then I need to protect myself. My partner and
I were looking at getting a financial agreement in place
by a lawyer so that my money is protected. However,
I don't know what to put in this document or
advice on what other people had wished they had in
place before entering into an agreement like this, What would
you do?
Speaker 5 (23:39):
It's really it is a tricky one.
Speaker 4 (23:42):
I don't know.
Speaker 5 (23:43):
I feel like I don't know enough about this, so
I apologize in advance.
Speaker 1 (23:45):
But we can make some assumptions.
Speaker 6 (23:47):
Yes, And also but I don't know the like that
much about like owning a home or anything like that
in general. But I think, yeah, if you could, if
you put like some sort of like financial something in
place to make sure that you'll protect I don't know
the whole thing.
Speaker 5 (24:01):
To me, really, I am a person who's like, oh,
too hard basket.
Speaker 6 (24:04):
I kind of like, and that's why i'm, you know,
financially not getting ahead because I'm always like it's too
much work. So but I feel like it's maybe too
much and I would just be like, oh, don't worry
about it. I also feel like, is this a place
you want to move to or are you just like
like if someone said to me, like, oh, you could
own a house in Vall Clues in Sydney, I'll be
(24:24):
like that sounds great. It's just for context, very expensive area.
A gorgeous area, but I don't want to move to
Sydney and I don't want to live in voll Clues
and that was never of my hopes and dreams lists.
So I'm like, oh, cool, this opportunity to live somewhere
I've literally never wanted to live before. I'll be so
far away from my friends and family, but it's a
(24:46):
very expensive area. I would be like, no thing, cause
I'll just do keep doing what I'm doing. I'm happy,
I'm on the right trajectory and I'll eventually buy where
I want to live. And so if that's something, if
you're like, am I just do? I just feel this
urgency because I'm like, well, what am I going to
get this opportunity again? Then maybe you think about like
is this something you want to do or you just
(25:07):
feel like you It'd be really.
Speaker 3 (25:09):
Assuming she wants to because she said, oh, in an
area that I couldn't afford, Like, because I'm assuming when
you say what I mean in an area I can't afford.
It's like we would love to live there, but like
we can't afford a block.
Speaker 1 (25:21):
You know what I mean?
Speaker 5 (25:21):
I know, but that's what I mean, is like, is
it that's what I meant.
Speaker 4 (25:24):
The cost of living going to be higher in this area?
Is that kind of what you're getting out, like if
you live in a more affluent area.
Speaker 6 (25:30):
I guess, so, I guess what I'm getting at is like,
was that an area you wanted to live in. Was
that an area that you were like, oh my god,
I would love to live here, or is it like WHOA,
I would never usually be able to afford this, but
I didn't want to live here.
Speaker 5 (25:42):
I just you know what I mean, So figure out
that's what's going on?
Speaker 1 (25:46):
Yes, jess what are you doing?
Speaker 4 (25:47):
From a contractual perspective, I would probably be looking to
put a clause in. I mean, honestly, first and foremost,
I would just be relying on a lawyer personally, like.
Speaker 3 (25:55):
Yeah, get that advice from that lawyer, baby, Yeah, that
you value our opinion, and obviously we're going to tell
you what we think.
Speaker 4 (26:03):
But like I would be putting my faith in someone
who does this day in and day out for their job.
The kind of clause I would be looking for is
perhaps something that would say because wills can be changed,
and that would be my concern. So, like if the
will was to be changed or if you know, God
forbid you and your partner were to break up or
go separate ways or something like that, you would be
(26:24):
repaid the money that you had put into the house.
And I mean like you could look at you know,
maybe with interest or you know, if the house were
to sell, you could get a percentage. There's lots of
different ways that you could split it. And that's where
I'd kind of rely on the lawyer to be like, well,
what's the best way to go about this. But I
would be looking to kind of find a way to
ensure that there's a contract in place to say that
(26:44):
if for whatever reason, the whole thing went tits up,
like you're getting your money back because on paper you
have no ownership, like you're not entitled to anything. So
I would be seeking to clarify that specifically.
Speaker 1 (26:55):
Yeah, so you can do that.
Speaker 3 (26:57):
I when I was a financial adviser, had to client
that went through this because his family were really wealthy
and they like the reason they didn't want to like
gift the property was like it was quite complex, it
was in a trust. They would have been a whole
heap of capital gains to like pay to get it out,
Like there was a good reason for it, but binding
financial agreement with contribution clauses. We want to sit down
(27:21):
and go, okay, cool. If I'm putting my money in,
I want a clause in there that says I'm going
to get my money back. I also want to make
sure that there's like a reimbursement or a compensation clause,
so if the property is sold or transfers names, or
my circumstance changes, like we break up, like what happens,
Like there's not just a caveat that says if it's sold,
(27:42):
I get my money back. Like how is this going
to be reimbursed to me? Because obviously it's on his parents' land.
I'm assuming that you're not going to get to keep
the land if you break up, But like what about
the house, Like it's not going to be an option
for you to stay in that house. So there's like
a few more things I want you to think about there,
But you are absolutely on the right path and asking
the right questions right now to put yourself in the
(28:03):
best possible position. And then the other thing I would
touch on is maybe like I don't know, like spicy
not spicy, Like the inheritance intentions, Yeah, they mean nothing.
So just because it's in his parents' will to go
to you, you can change your will tomorrow. You don't
need permission from anybody else to change it. They could
(28:25):
show you a signed copy of their will today, you
sign off on everything, and they go back to their
lawyers tomorrow and change it. It doesn't matter who it's
like entrusted to right now. That doesn't uphold in court,
Like there's no reason, Like they don't owe you anything,
if that makes sense. So, while that is a beautiful intention,
I would actually like a binding financial agreement that says
(28:46):
I will get my money back. Yeah, and whatever other
clauses you think are important, because it's just what are
my rules if it's coming to me? Also, like maintenance,
land taxes rates, who's paying those?
Speaker 4 (28:58):
Yeah?
Speaker 3 (28:59):
Like if it's not in my name, is that my responsibility?
Can we get clarity on that? Also, if I do
start paying the rates for that property, do I have
any entitlement to asking for that land in the future
if we separate. There's a lot of questions that I
can't answer because I'm not a lawyer. Go talk to
a lawyer. But those are the things.
Speaker 1 (29:17):
You can ask.
Speaker 3 (29:18):
Yeah, what everybody else say oh, there was a lot
of conversation. So first question we asked to the community,
would you enter in agreement to build a house with
your in laws like this? Twenty two percent of you
said yep, if it means I could have a house,
thirty percent said no, way to messy, and forty eight
percent of you said, well, it depends on the in laws.
We asked another question, what do you think should happen
(29:39):
if the relationship ended? So thirty five percent of you
said yep. Should be paid out at market value, thirty
one percent negotiate based on the situation, twenty five percent
said sell and spralit the profits, and nine percent of
you said, just reimburse my contributions. Which interesting, but like,
these are the questions that you need to do, take
(30:00):
to the lawyer to go well in the event that
this doesn't work out. And that's what I mean about.
You know what happens if you break up Every situation,
every business, every property needs an exit strategy.
Speaker 1 (30:12):
You need an exit. I don't care who you are.
Speaker 3 (30:15):
Jess is going to buy her first home at some
point soon and I'm so flipping excited about it. But
one of the first questions I will ask her, what's
your exit strategy. How would we sell this? How is
it structured? Like just might be like it's my family home.
I never want to sell it. Cool, but we always
have an exit strategy. Anyway, we ask the community, what
are your two cents? First person, I thought my in
(30:36):
laws were great too until they weren't get it in writing.
But seriously find another way.
Speaker 2 (30:42):
Yeah.
Speaker 3 (30:42):
Next person said, just speak to a lawyer. Cover all
your bases. If you split up, you or the in laws,
death happens, changes happen, make sure you're covered.
Speaker 1 (30:53):
I agree.
Speaker 3 (30:53):
Another person said, you need to consider any ramifications are
the ato with avoiding damp duty, which is true, and
it's also probably one of the reasons why they don't
want to transfer it into your name because you might
trigger a cell and you might trigger a transfer of
assets and some stamp duty, because stamp duty happens, whether
(31:14):
you like it or not, when you transfer property from
one name to an another. However, if it is in
a will and it's like part of a deceased a state,
often that's waived, so that might be why it's like
in the will. But I want this stuff in writing.
I want a legally binding contract. Because a will that's
just thoughts and hopes and dreams.
Speaker 1 (31:32):
Baby.
Speaker 3 (31:33):
Someone else said, and this person's user name has like
the word legal in it, so like, oh yeah, and.
Speaker 1 (31:42):
She prefaces it with as a property lawyer. There you go.
My opinion is this is hands down.
Speaker 3 (31:49):
A very terrible idea. And then she uses six red
flag emojis.
Speaker 6 (31:54):
Oh that's the person I'm listening to. Yeah, I'm going
about she.
Speaker 1 (31:59):
Has legal in her user Yeah.
Speaker 3 (32:01):
Another person who does not have legal in her username said,
I'm so surprised at how many people would be happy
to sign this. Yes, I have a three party one
for you. This is again not a legal representative that
has disclosed. Someone said, I'm in a similar situation. My
in laws helped my fiance buy a property, and I'm
expected to pay off the mortgage. They wouldn't accept having
(32:24):
my name on it. We are getting a binding financial agreement,
but I still think it is unfair. Mortgage repayments are
a huge contribution.
Speaker 4 (32:33):
Yeah, so that person, I'd be saying, just pay market
value rent them. Yeah yeah, yeah, Rather so my mortgage
contribution will be in line with what I would pay,
but that.
Speaker 3 (32:41):
Would be logical. Yeah, don't be here with your logic.
Someone else said, and I'm just going to give you
two more. Someone else said, generous in laws who clearly
love you, take the deal with an arrangement in place. Again,
everyone has but everyone has different opinions.
Speaker 5 (32:56):
Right, that's true.
Speaker 1 (32:57):
And then last one.
Speaker 3 (32:58):
I'll share is in laws will always protect their own blood.
Do you have your own money to go to court
if it doesn't work out?
Speaker 5 (33:07):
Well, that's a very good point.
Speaker 1 (33:08):
I think that's a very good point. But anyway, good.
Speaker 4 (33:11):
Luck, talk to talk to a lawyer.
Speaker 1 (33:14):
Have a good weekend. I think we're going to wrap
it up here.
Speaker 3 (33:17):
So have a good weekend, my friends, and we'll see
you on Monday, bright and early for a money Monday Diary.
Speaker 1 (33:22):
Bye, guys, Money Monday Diary. Just think about I'll see
you later.
Speaker 3 (33:32):
The ad buy shared on She's on the Money is
general in nature and does not consider your individual circumstances.
She's on the Money exists purely for educational purposes and
should not be relied upon to make an investment or
financial decision. If you do choose to buy a financial product,
read the PDS TMD and obtain appropriate financial advice tailored
towards your needs. Victoria divine and She's on the money.
(33:55):
Are authorized representatives of money sheirper Pty Ltd. A b
N three two one six four nine two seven seven
zero eight a F s L four five one two
eight nine
Hello.
Speaker 2 (00:01):
My name is Sanatasha Nabananga Bamblet. I'm a proud yor
the Order Kerni Whoaltbury 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 impact for tomorrow.
Speaker 1 (00:33):
Let's get into it. She's on the Money. She's on
the Money.
Speaker 3 (00:57):
Hello and welcome to She's on the Money podcast that
makes personal finance fun, especially mainly on Fridays.
Speaker 1 (01:04):
Welcome back.
Speaker 3 (01:05):
It is our favorite day of the week because we
get to get our team together and celebrate you ow incredible.
She's on the Money community, mister Griccy. She's here with
our favorite money wins of the week. Beck has gotten ready.
She's got three broke tips for us, and we're going
to be helping to answer a money dilemma, which this
week is all about what do you do when chasing money?
(01:26):
Starts affecting your health and something that you slid into
our DMS about what do you do when pouring your
savings into a house when your name isn't even on
the mortgage all but before we get them is just
a greachy. Miss Beck's sayed, how have your weeks been?
Speaker 4 (01:43):
Nothing very exciting this week, just plodding along, live life,
loving any.
Speaker 3 (01:49):
And crafts, any side projects. I feel like you've always
got something on the go, Jessica. Yeah, I'm trying to.
Speaker 4 (01:55):
I don't think I do at the.
Speaker 1 (01:56):
Moment about the sewing machine. Where's the sewing machine gun?
Speaker 4 (01:58):
I did think about this very resales. Oh I've done
that thing where I like got the hobby and then didn't.
But I want to say myself a new tote bag
for ballet. So that's I've cut the pieces.
Speaker 3 (02:07):
I just need to sew the piece. Okay, we're halfway
through a project. But I also think of sewing machine
and that skill. Yes, it might have been a hobby.
Having it means like you can whip it out, you
can hem some pants.
Speaker 1 (02:17):
Totally.
Speaker 3 (02:18):
Yeah, I feel like it's a good investment. It's not
like my polymer clay addiction, where I went and bought
every single color of polymer clay and started making these
teeny tiny little jelly cat like creations. And that's been good,
but like, I haven't done that in a long Yeah.
Speaker 1 (02:35):
So yes, that's a bit different to a sewing machine,
but they were. It was fun. That lasted. Look, it
was fun. Well that lasted, and I'm sure I'll go
back there at some point. I just like it.
Speaker 3 (02:43):
I can like literally copy things. Yeah anyway, don't come
for me and seeming jelly cat like I can't afford
your soft toys anymore.
Speaker 1 (02:51):
Yeah, like what the hell? Why are they so expensive?
But they're so cute.
Speaker 4 (02:57):
C there's a little fuzzy peach one that I want
to get for my because I'm like, it's so unbrain
I tried to.
Speaker 3 (03:02):
Buy that for me the other day and it sold out.
The twenty twenty five fuzzy Peach one adorable. I saw
it in the shop meet Meek in Chadstone, and I
remember being like, oh my god, that is so jess.
I should get that, and then like didn't think about it,
and then I was like, nah, I am going to
go back and get.
Speaker 1 (03:19):
That, and it was like were like, oh no, we
sold out of that.
Speaker 3 (03:21):
So I was like, this is my life mission. I
will turn up with a fuzzy peach for you sometimes
I will. I will have it, I promise. Is everyone
waiting for the mozzarella ball to come out? Oh my god,
the past but not the past one. It's got like
a little bray. I think it's made it happen.
Speaker 1 (03:41):
To stop it.
Speaker 5 (03:42):
It's a little berat Morella.
Speaker 6 (03:43):
I can't really remember what it looks like now, but
but that's been waiting for a year, you know what
I was thinking about.
Speaker 4 (03:48):
Jelly Cats are the modernday beanie kid. Because I was.
Speaker 1 (03:52):
A beaty kid kid. I had bed hundreds of them.
Speaker 3 (03:54):
Beck, you didn't come to the Sheese on the Money
Christmas party. But I don't know if we told you that.
We did a past the parcel because like She's on
the Money Christmas party, Like we don't just want to
sit there informally talk about our work performance, like we
had fun.
Speaker 1 (04:08):
We did pass the parcel, but in every.
Speaker 3 (04:10):
Layer of the past the parcel was a jelly cat
ring and then in the middle there was a big
Christmas themed jelly cat. Yeah.
Speaker 4 (04:19):
It was so my god, maybe it was you were right.
Sometimes I ended up with two, so maybe you should
have the other one. I think, yeah, you had a
Christian on my bag. And then I have the Turtle,
which I actually think is very on brand. His name's
Timmy Turtle. He's got my face you next week, I
reckon you love me?
Speaker 1 (04:38):
You could sell that's sod.
Speaker 5 (04:41):
That is so cute.
Speaker 1 (04:42):
You're so cute.
Speaker 5 (04:43):
Thank you so much.
Speaker 1 (04:44):
But we never passed the parcel and it was a
lot of fun. It's the best thing ever.
Speaker 3 (04:48):
It was actually very funny, though I'm sorrying our producer
Emma under the bus because I don't think Emma understood
how cool jelly Cats were or that there was like
a cold following and she got the big one in
the middle and everyone was like, I listed an addition
like Christmas tree, and then Emma's.
Speaker 6 (05:03):
Like, cool, no, it's wasted story above her.
Speaker 3 (05:10):
She's in the room with us, so we're not like
throwing shade while she's not watching.
Speaker 1 (05:14):
But would you guys like a five star review? Yes please?
Speaker 3 (05:19):
I am ready this person's username She's on the Money fangirl, Oh.
Speaker 1 (05:25):
Life changing podcast.
Speaker 3 (05:26):
I started listening to She's on the Money during COVID
and Binge listened to all the episodes I had missed
and Vic and team you have truly changed my life.
Thanks to Vic's advice on one of the earlier podcasts,
my husband and I made the decision to take out
additional insurance AKA I forced him one day because he
was a typical treaty that thought he was invincible, hoping
(05:48):
we'd never have to use it. Sadly, my husband was
badly injured at work, but one of the few silver
linings in such a tough time was that his TPD
insurance was paid out.
Speaker 5 (06:00):
Oh wow.
Speaker 3 (06:00):
Because of that, we are now a young family who
is completely mortgage free. My husband is still recovering, but
this has helped ease our stress immensely, meaning we can
focus on him.
Speaker 1 (06:11):
Rather than having the added.
Speaker 3 (06:12):
Stress of can we afford to pay our mortgage over
this expensive time in our lives.
Speaker 1 (06:17):
Wow, I'm really sorry.
Speaker 3 (06:19):
That is so trashy, and like, I love that you
shared that, because insurance to me is so important. Like
when I was working as a financial advisor, you see
the worst of the worst, Like it's everyone who says
this will never happen to me, and like invincible tradees
all say.
Speaker 1 (06:37):
Yah, help me right, it will never happen to me.
Speaker 3 (06:39):
But then something does happen, So get your insurances in
order that as much as I want none of this
to happen to any of you, when you write in
and say we listen to your podcast and we were
covered for that girl, your mortgage free, like the stress
that would have lifted. Oh, I love that for you
at the same time as hating that you had to
go through through that.
Speaker 1 (07:00):
Sending lots of love to you. But thank you for
that review. That was so kind. Yeah, thank you so much.
Speaker 3 (07:05):
If any of you want to get your insurances sorted,
I'm going to put a link in the show notes
to Sky Wealth because they are going to get it
sorted for you in a very cost effective way. Anyway,
moving on, my friends is just grichy. Can we have
the money wins of the week? Absolutely you can.
Speaker 4 (07:22):
Firstly, this week I've got a money win from Maddie,
who said she asked her private Health if they could
offer her any deals as Booper were currently running a
six weeks free someone mentioned this in the group. She
saw it, so she hit up her health insurance. They
gave her twelve weeks of health insurance for free. She
said it saved so isn't that crazy? So again reminder
(07:44):
ask you know mentioned maybe that Booper are running that
promotions weekend?
Speaker 1 (07:47):
Yeah, because that is wild.
Speaker 4 (07:49):
Yeah. Next, I put the money win from Jess, excellent name.
She said she went to wash her car on half
priced day to try and save some money.
Speaker 3 (07:56):
I didn't know that existed, but like cool, very is
very expensive.
Speaker 4 (08:02):
But Jess drove into the bay and the time I
still had thirty minutes on it. So she washed her
car for free.
Speaker 3 (08:06):
Oh God, my brain and somebody who lives on the peninsula.
When she said I drove into the bay, I'm like,
would you do that?
Speaker 1 (08:16):
You drive into the ocean?
Speaker 4 (08:18):
Yeah, that'll clean it. I have a very good example
of that. For our next one, I've got a money
in from Wander he said, definitely a money win. I
was in a coma over my spending and transferring too
much out of my emergency fund into ETFs. I've been
more mindful this month after exporting my transactions into a
spreadsheet and have managed to have my spending mostly just
by being mindful on spending food and now I can
(08:38):
focus on rebuilding my emergency account. But Samantha commented under
that and said, I didn't read the whole post and
just read coma and thought, yeah, that's a good way
to save money. Made was she actually no, so she
is just a turn of phrase. Like I was in
a promar I was sick over my spending something.
Speaker 1 (08:57):
I see. I was like, oh my god, that's hilarious. Well,
I guess he very me coded, like just skim reading
something and being like.
Speaker 4 (09:07):
Whoa, next, I've got money. Went from Cassandra, who said
she got petrol for a dollar fifty two per litera
which included four cents off the majority of plays at
the time in the area where a dollar seventy five
at least. It makes me cringe though, because I now
I'm like, wow, do you like to do that?
Speaker 1 (09:25):
So good? I remember when I wouldn't pay over a
dollar twenty so expensive? I remember, so.
Speaker 3 (09:30):
I remember back in university, I used to have this
very old and very loved Toyota Avalon, so very similar
to a Camri but like the Grandpa version, and it
had been converted to LPG, and I remember it was
like forty five cents a litera to fifty cents a liter.
And I remember being like fifty cents a liter that's
cooked that's so expensive, girl, what what? Why did you
(09:54):
ever get rid of that car? Like that car was
the best thing since slice bread. So many questions about
the car, but I know we probably yeah, we'll talk
about it later.
Speaker 4 (10:04):
I think the next I've got money in from Kate
who said her old Macpack backpack got repaired free of
charge because the zipper pocket stitching had started coming undone.
Do you know what's a sligh you being able to
get that out of your mouth?
Speaker 1 (10:15):
And that the Macpack?
Speaker 4 (10:22):
But she said, thanks Mackpack having a great policy save
this from landfill.
Speaker 1 (10:26):
I love that.
Speaker 4 (10:27):
But idea to I know that Patagonia have a really
good repairs policy. I think Lula Lemon as well, So
like maybe when you're shopping for things checking what places offer,
you know, maybe you pay a little bit more upfront,
but if they have a really good, you know, quality policy,
it's hard money.
Speaker 1 (10:44):
Leggings replaced from Lulu Lemon.
Speaker 3 (10:47):
I've also had them taken up for free from Lululemon
because sure, girl problems like you can buy any length
of them and they will shorten them to what you need.
And I have also had like stitching on one replaced
for free for free.
Speaker 6 (10:59):
Amazing, and Lulu Lemon is eighteen percent cash back on
trip back. Oh it was, I don't if it's still amazing. Lastly,
this week, I've had a moneyment from Eve who said
she's been completing the my Medibank Live Better challenges religiously
over the last few months. Every day she's got herself
a pair of AirPods coming that she didn't have to
(11:19):
pay a cent for money good for me, and a
nice treat when points add up. So if you're a
Madibank customer, might be worth looking into that program. I
think it's similar to the Quantus Wellbeing program.
Speaker 3 (11:30):
It's very cool and you're already doing the activities anyway,
and it's a good motivation too. You love it, Queen,
Miss Jessica, and she miss beck Si Yet I want
your three broke tips. I want him hard, I want
them fast. I want to know what, yes, ma'am.
Speaker 1 (11:44):
Okay.
Speaker 6 (11:45):
So this first one comes to my friend who is
I didn't realize, but a lot tighter than I thought.
Speaker 1 (11:52):
I mean, but I like this.
Speaker 5 (11:54):
Yeah, she's a budget queen. I didn't realize it's.
Speaker 3 (11:56):
Actually secretly frugal, secretly frugal, Yeah exactly, But she did
run through so many things that I probably can't share.
Speaker 6 (12:05):
On the podcast, but that's okay, But the ones that
I could. She said that some vegetables and fruits, fruits
and vegetables it's.
Speaker 5 (12:12):
Weird saying the other way around, it's not right.
Speaker 1 (12:14):
And fruits fruits.
Speaker 6 (12:17):
She said that some of these don't have to like
it's more expensive to buy organic, but you don't need to,
is what she's saying. So things that like, you know,
thicker skins, like for example, banana, avocados, mushrooms are some examples.
I don't really understand the mushroom thing because there's.
Speaker 3 (12:31):
No skin, and also there's like a lot of mushroom
drama going on right now.
Speaker 5 (12:35):
There is a lot of mush and druma.
Speaker 6 (12:36):
My friend is actually right now she's doing the doco
on that.
Speaker 1 (12:41):
That's very good. No, no, don't say anymore. Don't say anymore,
very exciting.
Speaker 6 (12:46):
So that's a good tip though, Yeah, good tips. So
some things don't need to be organic, so just have
a little Google before you go. If you are buying
things organic, just double check that it's worth.
Speaker 5 (12:56):
It to just buy the regular.
Speaker 7 (12:58):
And my other tipcums I add to your fridge vegetable
broke tip absolutely so, like I am now a parent
that has to financially recover from buying so many damn berries.
Speaker 3 (13:12):
My son loves to eat berries, and I buy a
lot of them. Yes, we go through them relatively quickly.
But I learned to tip on TikTok that if you
fill a bowl with water and add a good splash
of vinegar and then your berries in and rinse them in,
that your berries will.
Speaker 1 (13:27):
Last three times longer.
Speaker 3 (13:28):
And I tested it and it worked like I ran
a full controls thing in my fridge. Yea, I like,
did one punnet of raspberries that I didn't wash and
one punnet that I did, And yeah, the one that
I did lasted so much longer, and the one that
didn't like had mold on it by the end of
the week. So wash your vegetables and fruits in vinegar
(13:50):
to make them last longer.
Speaker 7 (13:51):
Wow.
Speaker 1 (13:52):
I think that's a.
Speaker 3 (13:52):
Good one, right, That is a really good one, especially
like berries and stuff, because vinegar is safe to consume.
Speaker 1 (13:58):
But vinegar also killed mold.
Speaker 3 (14:01):
That's why you should wash your shower and stuff with vinegar,
not with bleach, because bleach doesn't kill mold. Spores vinegar does,
so the science science.
Speaker 1 (14:09):
Is behind it. Yeah, yeah, soft, I don't know why.
Speaker 3 (14:15):
Instead of your fabric Softna, it's we didn't take over
from your broke tips if you don't continue.
Speaker 5 (14:21):
No, no, I'm really happy with But like, does it
make your close?
Speaker 1 (14:24):
I use it? God, that is everything.
Speaker 3 (14:27):
Maybe we should do a whole segment what does VD
use vinegar for?
Speaker 5 (14:32):
And you know what dipping a hot chip.
Speaker 6 (14:34):
In the restaurant remaining Ye're delicious? Okay, So this next
one comes from my partner's sister. Currently, I'm sure we
all see these, like whenever you go to uber eats
or something and it always pops up uber one, Uber one.
I don't want uber one, okay, I don't want to
know that I'm using it so often that this will
be beneficial for me.
Speaker 1 (14:52):
But right now uber one.
Speaker 6 (14:54):
Basically what happened was the other day my partner and
her went to the movies and they got twelve dollar tickets,
unlimited popcorn, free refills.
Speaker 1 (15:02):
So it was, what is that about?
Speaker 3 (15:04):
And it's expensive free refield that's exactly right, And so
I stole a ticket.
Speaker 1 (15:08):
So are we living in two thousand and nine?
Speaker 3 (15:10):
I know?
Speaker 5 (15:10):
And so I was like, how did this happen?
Speaker 6 (15:12):
And she said because she joined uber one and it's
I'm assuming if I'm a.
Speaker 1 (15:16):
Member of uber one, can I please have access? Yeah,
it's I think.
Speaker 5 (15:18):
It's it's running ntil September, so.
Speaker 1 (15:20):
Right, I get so I can access it? Yeah, you
can access it.
Speaker 3 (15:23):
Money When is that? So you're saying you're enabling my
uber eats habit. Yeah, thank you, that's very kind. Money
tip my broad tips. Sorry Jess comes with money tips,
you come with broake tips.
Speaker 5 (15:36):
I do am I one this week.
Speaker 6 (15:37):
I'm so sorry it is only for the Melbourne people,
but I'm sure there is an equivalent elsewhere. As I
always say, so, A restaurant has opened up in Brunswick East,
brand new restaurant.
Speaker 1 (15:50):
It's a wine bar.
Speaker 6 (15:50):
Sorry I should say it's called Times New Roman Bar.
Speaker 4 (15:55):
I love that name.
Speaker 1 (15:55):
I know isn't cute.
Speaker 6 (15:57):
And they're doing very very cheap eat. So for example,
these people got their bread which was three dollars Barada
and pickles six dollars Barada. I've never seen Barada under
seven hundred dollars, so.
Speaker 1 (16:10):
Barada seen in under one thousand dollars, so that makes sense.
And then they're like tiny.
Speaker 6 (16:15):
Totally and a half port of passes six dollars was
like a really lovely part of it happens to the Roman.
Speaker 1 (16:21):
Is such a good name. Yeah, I'm still stuck on that.
Speaker 3 (16:24):
Is there a bark or comic sands or is that
not cool? I think that that could be Windings, Windings.
Speaker 6 (16:31):
I'm sure there's Windings. No one speaks any language in Winding.
They just took like simmish. Yes, So that is my
break tap this week is that if you live in Melbourne,
if you can access it, try and hit up times
in your Roman bar and get very cool food.
Speaker 1 (16:46):
I love it. Let's go on a date there.
Speaker 3 (16:48):
Yeah, all right, let's go to a really quick break
because on the flip side, we're going to be talking
about what do you do when chasing money is starting
to impact your health and something that you slid into
our dams? But what do you do when you're pouring
your savings into a house and you're.
Speaker 1 (17:03):
Not even on the mortgage. So guys, don't go anywhere.
Welcome back, everybody.
Speaker 5 (17:11):
Let's take a listen to this week's money dilemma.
Speaker 1 (17:16):
Hi, there, have you got a money dilemma? You just
can't solve that? She's on the Money team is here
to help.
Speaker 3 (17:22):
Every week, we tackle your dilemmas, both big and small,
to answer your most burning money, career and life questions.
To get involved, simply head to our website and leave
us a short voice recording and you might just find
yourself on the show. Now, let's take a listen to
this week's money dilemma.
Speaker 8 (17:41):
Hey, She's on the Money. I am currently twenty one
years old and I'm a disability support worker. I have
recently started a new job and at the time I said, yes,
give me whatever hours you can. I'm happy to work,
you know, big hours. Anyway, fast forward are doing fifty
to sixty hour weeks, sometimes seventy and starting to take
(18:04):
a toll on my health. I've started throwing up of
a morning every day, feeling nauseous all the time, and
I don't know what to do because the money is
so great, but it's starting to take a toll of
my health.
Speaker 3 (18:18):
Please help, oh girl, girl, we need to do something
about that, because that is no way to live.
Speaker 2 (18:23):
Like.
Speaker 3 (18:23):
Don't get me wrong, people are going to be listening
to this and go, well, I work fifty or sixty
hour weeks and that doesn't happen to me. Sit down,
your privilege is showing because when you are a disability
support worker that is so physically and mentally taxing that
it makes sense you are not physically well, but like
care about yourself because if you are not putting yourself
(18:47):
first in this situation, you're going to burn out real
quick and then you won't be able to earn money
for ages. Like I know that you're like, oh, I
don't want to step back from it, But if you
don't step back now and actually put yourself first, you
know what's going to happen. You're gonna burn out and
then you're gonna have no job because you won't have
the ability to work.
Speaker 5 (19:04):
Yeah.
Speaker 6 (19:05):
I think that if you literally cannot survive without doing
that many hours, that's probably a different conversation. You probably
need to look at either getting like a pay rise
or a whole a whole new job. But if you
can survive off less hours, but you just are really
really happy with the money that you're getting and you
(19:27):
feel like you're getting ahead, I totally get that feeling.
But maybe just try and either see if you can
like condense your days. Maybe you could do like four
ten hour days. Which is very, very very tiring, or
try and like work out a way that you can, yeah,
just kind of condense your days or hours. But I
(19:47):
can't imagine that any workplace would find an issue with
you being like, hey, can I not literally work twenty
four to seven. You will be able to ask for that,
I would say, And if they don't allow that, you
got to go somewhere else because it's absolutely not worth it.
No amount of money is worth it.
Speaker 4 (20:03):
Yeah, there's no point earning all the money if you're
then so unwell that you can't spend it or enjoy it.
There's like money is it's counterintuitive, but like it's not
the most important thing. Like obviously, to a point, we
need money to be able to exist in this world,
to put a roof over our heads, et cetera. But
if you're not able to enjoy the fruits of your labor,
what's the point exactly? I think the Yeah, like, as
(20:26):
you were saying, I'm sure that if you spoke to
whoever's in charge of your scheduling and just said, you know,
I know that I said I wanted lots of hours,
and I'm so thankful you gave me lots, But it's
just taking a toll on me. They're probably just loading
you up because they're like, well, we've got someone who
wants to be loaded up, so take all the hours.
But if you said, hey, like it's having an impact
on me, I'm unwell, any considerate person would be like,
(20:47):
no worries, Like we can you know, help.
Speaker 3 (20:48):
A safety issue as well, because you're not well and
you're taking that unwell body to work, something's going to
happen to work.
Speaker 1 (20:55):
Yeah, definitely.
Speaker 4 (20:56):
So I think, yeah, it's pretty clear from all three
of us it seems.
Speaker 1 (20:59):
Really don't do that money. It's not worth it at all.
Speaker 4 (21:02):
You've got to look after yourself. You can't pour for
an empty car.
Speaker 5 (21:05):
It was just about to say that discorrectly.
Speaker 1 (21:07):
Wow, exactly.
Speaker 3 (21:08):
Also, I know that all of our advice is like,
you know, step back, it's not worth it, right, Maybe
you're thinking, well, I think it's worth it. I think
we need to look at the bigger picture as well,
because if you're working that many hours, how are you
supporting your health and well being outside of those hours,
Like are you still going out? Are you, you know,
(21:29):
not nourishing your body in the way that you should?
There are probably if you're going to continue this amount
of hours and you're like, oh, well, how do I
look after myself? Because like, go, I'm doing it whether
you like it or not. How are you, you know,
getting up in the mornings, are you getting enough sleep?
Like how do we prioritize looking after our body in
the moment, Because for a lot of us who are
(21:49):
in these situations where we are earning so much money
and we're well, we can't step back because I'm paying
off debt or I'm putting a roof over my head,
or i have kids, or I have all of the
Victoria's not we can't just step back and be like, well,
so the money's not worth it and flip our hair
over our shoulder and be fine with it. Like how
are you making sure that your body is in the
best possible position at the moment, Like I don't believe
(22:10):
that every single.
Speaker 1 (22:11):
Thing can be imbalanced right now.
Speaker 3 (22:13):
So like getting enough sleep, putting the right nutrition into
your body, you know, fostering positive relationships around you. Have
you got people that you can talk to about this,
because that will make the load feel even lighter, Like
what support is available to you? So like just hitting
the nail on the head with that as well. But ultimately,
if you're in that position where you can step back,
(22:33):
that's what I would be doing, sitting.
Speaker 1 (22:35):
Lots of love. I hope you look after yourself my.
Speaker 3 (22:37):
Life absolutely all right, guys, do you want to get
into the juicy DM we got this weekly. I'm excited
you said yes because I was going to do it anyway.
So this week our DM high shees. On the money,
I have a financial dilemma or question. My in laws
have offered for us to build on a block that
they have in an area we would never be able
(22:57):
to afford to buy in. We would just need to
pay for the mortgage repayments for the cost of the build.
It's financially a great opportunity, and I have a great
relationship with my in laws. However, the block is not
in my name, and so the house and loan will
also not be in my name, and we will be
pouring our savings into them. It is in their will
(23:18):
that it will go to my partner and I, but
until then I need to protect myself. My partner and
I were looking at getting a financial agreement in place
by a lawyer so that my money is protected. However,
I don't know what to put in this document or
advice on what other people had wished they had in
place before entering into an agreement like this, What would
you do?
Speaker 5 (23:39):
It's really it is a tricky one.
Speaker 4 (23:42):
I don't know.
Speaker 5 (23:43):
I feel like I don't know enough about this, so
I apologize in advance.
Speaker 1 (23:45):
But we can make some assumptions.
Speaker 6 (23:47):
Yes, And also but I don't know the like that
much about like owning a home or anything like that
in general. But I think, yeah, if you could, if
you put like some sort of like financial something in
place to make sure that you'll protect I don't know
the whole thing.
Speaker 5 (24:01):
To me, really, I am a person who's like, oh,
too hard basket.
Speaker 6 (24:04):
I kind of like, and that's why i'm, you know,
financially not getting ahead because I'm always like it's too
much work. So but I feel like it's maybe too
much and I would just be like, oh, don't worry
about it. I also feel like, is this a place
you want to move to or are you just like
like if someone said to me, like, oh, you could
own a house in Vall Clues in Sydney, I'll be
(24:24):
like that sounds great. It's just for context, very expensive area.
A gorgeous area, but I don't want to move to
Sydney and I don't want to live in voll Clues
and that was never of my hopes and dreams lists.
So I'm like, oh, cool, this opportunity to live somewhere
I've literally never wanted to live before. I'll be so
far away from my friends and family, but it's a
(24:46):
very expensive area. I would be like, no thing, cause
I'll just do keep doing what I'm doing. I'm happy,
I'm on the right trajectory and I'll eventually buy where
I want to live. And so if that's something, if
you're like, am I just do? I just feel this
urgency because I'm like, well, what am I going to
get this opportunity again? Then maybe you think about like
is this something you want to do or you just
(25:07):
feel like you It'd be really.
Speaker 3 (25:09):
Assuming she wants to because she said, oh, in an
area that I couldn't afford, Like, because I'm assuming when
you say what I mean in an area I can't afford.
It's like we would love to live there, but like
we can't afford a block.
Speaker 1 (25:21):
You know what I mean?
Speaker 5 (25:21):
I know, but that's what I mean, is like, is
it that's what I meant.
Speaker 4 (25:24):
The cost of living going to be higher in this area?
Is that kind of what you're getting out, like if
you live in a more affluent area.
Speaker 6 (25:30):
I guess, so, I guess what I'm getting at is like,
was that an area you wanted to live in. Was
that an area that you were like, oh my god,
I would love to live here, or is it like WHOA,
I would never usually be able to afford this, but
I didn't want to live here.
Speaker 5 (25:42):
I just you know what I mean, So figure out
that's what's going on?
Speaker 1 (25:46):
Yes, jess what are you doing?
Speaker 4 (25:47):
From a contractual perspective, I would probably be looking to
put a clause in. I mean, honestly, first and foremost,
I would just be relying on a lawyer personally, like.
Speaker 3 (25:55):
Yeah, get that advice from that lawyer, baby, Yeah, that
you value our opinion, and obviously we're going to tell
you what we think.
Speaker 4 (26:03):
But like I would be putting my faith in someone
who does this day in and day out for their job.
The kind of clause I would be looking for is
perhaps something that would say because wills can be changed,
and that would be my concern. So, like if the
will was to be changed or if you know, God
forbid you and your partner were to break up or
go separate ways or something like that, you would be
(26:24):
repaid the money that you had put into the house.
And I mean like you could look at you know,
maybe with interest or you know, if the house were
to sell, you could get a percentage. There's lots of
different ways that you could split it. And that's where
I'd kind of rely on the lawyer to be like, well,
what's the best way to go about this. But I
would be looking to kind of find a way to
ensure that there's a contract in place to say that
(26:44):
if for whatever reason, the whole thing went tits up,
like you're getting your money back because on paper you
have no ownership, like you're not entitled to anything. So
I would be seeking to clarify that specifically.
Speaker 1 (26:55):
Yeah, so you can do that.
Speaker 3 (26:57):
I when I was a financial adviser, had to client
that went through this because his family were really wealthy
and they like the reason they didn't want to like
gift the property was like it was quite complex, it
was in a trust. They would have been a whole
heap of capital gains to like pay to get it out,
Like there was a good reason for it, but binding
financial agreement with contribution clauses. We want to sit down
(27:21):
and go, okay, cool. If I'm putting my money in,
I want a clause in there that says I'm going
to get my money back. I also want to make
sure that there's like a reimbursement or a compensation clause,
so if the property is sold or transfers names, or
my circumstance changes, like we break up, like what happens,
Like there's not just a caveat that says if it's sold,
(27:42):
I get my money back. Like how is this going
to be reimbursed to me? Because obviously it's on his parents' land.
I'm assuming that you're not going to get to keep
the land if you break up, But like what about
the house, Like it's not going to be an option
for you to stay in that house. So there's like
a few more things I want you to think about there,
But you are absolutely on the right path and asking
the right questions right now to put yourself in the
(28:03):
best possible position. And then the other thing I would
touch on is maybe like I don't know, like spicy
not spicy, Like the inheritance intentions, Yeah, they mean nothing.
So just because it's in his parents' will to go
to you, you can change your will tomorrow. You don't
need permission from anybody else to change it. They could
(28:25):
show you a signed copy of their will today, you
sign off on everything, and they go back to their
lawyers tomorrow and change it. It doesn't matter who it's
like entrusted to right now. That doesn't uphold in court,
Like there's no reason, Like they don't owe you anything,
if that makes sense. So, while that is a beautiful intention,
I would actually like a binding financial agreement that says
(28:46):
I will get my money back. Yeah, and whatever other
clauses you think are important, because it's just what are
my rules if it's coming to me? Also, like maintenance,
land taxes rates, who's paying those?
Speaker 4 (28:58):
Yeah?
Speaker 3 (28:59):
Like if it's not in my name, is that my responsibility?
Can we get clarity on that? Also, if I do
start paying the rates for that property, do I have
any entitlement to asking for that land in the future
if we separate. There's a lot of questions that I
can't answer because I'm not a lawyer. Go talk to
a lawyer. But those are the things.
Speaker 1 (29:17):
You can ask.
Speaker 3 (29:18):
Yeah, what everybody else say oh, there was a lot
of conversation. So first question we asked to the community,
would you enter in agreement to build a house with
your in laws like this? Twenty two percent of you
said yep, if it means I could have a house,
thirty percent said no, way to messy, and forty eight
percent of you said, well, it depends on the in laws.
We asked another question, what do you think should happen
(29:39):
if the relationship ended? So thirty five percent of you
said yep. Should be paid out at market value, thirty
one percent negotiate based on the situation, twenty five percent
said sell and spralit the profits, and nine percent of
you said, just reimburse my contributions. Which interesting, but like,
these are the questions that you need to do, take
(30:00):
to the lawyer to go well in the event that
this doesn't work out. And that's what I mean about.
You know what happens if you break up Every situation,
every business, every property needs an exit strategy.
Speaker 1 (30:12):
You need an exit. I don't care who you are.
Speaker 3 (30:15):
Jess is going to buy her first home at some
point soon and I'm so flipping excited about it. But
one of the first questions I will ask her, what's
your exit strategy. How would we sell this? How is
it structured? Like just might be like it's my family home.
I never want to sell it. Cool, but we always
have an exit strategy. Anyway, we ask the community, what
are your two cents? First person, I thought my in
(30:36):
laws were great too until they weren't get it in writing.
But seriously find another way.
Speaker 2 (30:42):
Yeah.
Speaker 3 (30:42):
Next person said, just speak to a lawyer. Cover all
your bases. If you split up, you or the in laws,
death happens, changes happen, make sure you're covered.
Speaker 1 (30:53):
I agree.
Speaker 3 (30:53):
Another person said, you need to consider any ramifications are
the ato with avoiding damp duty, which is true, and
it's also probably one of the reasons why they don't
want to transfer it into your name because you might
trigger a cell and you might trigger a transfer of
assets and some stamp duty, because stamp duty happens, whether
(31:14):
you like it or not, when you transfer property from
one name to an another. However, if it is in
a will and it's like part of a deceased a state,
often that's waived, so that might be why it's like
in the will. But I want this stuff in writing.
I want a legally binding contract. Because a will that's
just thoughts and hopes and dreams.
Speaker 1 (31:32):
Baby.
Speaker 3 (31:33):
Someone else said, and this person's user name has like
the word legal in it, so like, oh yeah, and.
Speaker 1 (31:42):
She prefaces it with as a property lawyer. There you go.
My opinion is this is hands down.
Speaker 3 (31:49):
A very terrible idea. And then she uses six red
flag emojis.
Speaker 6 (31:54):
Oh that's the person I'm listening to. Yeah, I'm going
about she.
Speaker 1 (31:59):
Has legal in her user Yeah.
Speaker 3 (32:01):
Another person who does not have legal in her username said,
I'm so surprised at how many people would be happy
to sign this. Yes, I have a three party one
for you. This is again not a legal representative that
has disclosed. Someone said, I'm in a similar situation. My
in laws helped my fiance buy a property, and I'm
expected to pay off the mortgage. They wouldn't accept having
(32:24):
my name on it. We are getting a binding financial agreement,
but I still think it is unfair. Mortgage repayments are
a huge contribution.
Speaker 4 (32:33):
Yeah, so that person, I'd be saying, just pay market
value rent them. Yeah yeah, yeah, Rather so my mortgage
contribution will be in line with what I would pay,
but that.
Speaker 3 (32:41):
Would be logical. Yeah, don't be here with your logic.
Someone else said, and I'm just going to give you
two more. Someone else said, generous in laws who clearly
love you, take the deal with an arrangement in place. Again,
everyone has but everyone has different opinions.
Speaker 5 (32:56):
Right, that's true.
Speaker 1 (32:57):
And then last one.
Speaker 3 (32:58):
I'll share is in laws will always protect their own blood.
Do you have your own money to go to court
if it doesn't work out?
Speaker 5 (33:07):
Well, that's a very good point.
Speaker 1 (33:08):
I think that's a very good point. But anyway, good.
Speaker 4 (33:11):
Luck, talk to talk to a lawyer.
Speaker 1 (33:14):
Have a good weekend. I think we're going to wrap
it up here.
Speaker 3 (33:17):
So have a good weekend, my friends, and we'll see
you on Monday, bright and early for a money Monday Diary.
Speaker 1 (33:22):
Bye, guys, Money Monday Diary. Just think about I'll see
you later.
Speaker 3 (33:32):
The ad buy shared on She's on the Money is
general in nature and does not consider your individual circumstances.
She's on the Money exists purely for educational purposes and
should not be relied upon to make an investment or
financial decision. If you do choose to buy a financial product,
read the PDS TMD and obtain appropriate financial advice tailored
towards your needs. Victoria divine and She's on the money.
(33:55):
Are authorized representatives of money sheirper Pty Ltd. A b
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