August 20, 2026 • 35 mins
Hypothetically, if you were offered a role abroad that you couldn’t refuse, but you’d finally saved enough for a house deposit, would you stick around and try to enter the property market or further your place in the career department?
This week on Friday Drinks, Victoria, Bec and Jess cover all the important topics: career aspirations, home ownership and relationships.
We find out where the gang would travel to if they had $2k to drop on a holiday, plus Money Wins and Broke Tips from the community. Tune in if you’re looking for ways to find referral codes on your next purchase… or if you need a good brow gel replacement.
HOW TO BUDGET FOR YOUR DREAM TRAVELS: Tune into our playlist to help you plan for your dream trip at https://open.spotify.com/playlist/6xbOfw6jTVlqfoAzEzYv6v?si=xq-uwfsqQn2DnVrV0cAL1A
WANNA MAKE SOME EXTRA COIN? Did you know that you can earn $ by writing for Medium? Learn over here at medium.com/membership
HOW TO: TRAVEL ON A BUDGET: Here are our tips for travelling on a budget, now on the blog over here and if you search ‘travel’ at https://www.shesonthemoney.com/blog
New here? Follow us on Instagram (@shesonthemoneyaus) for Q&As, bite-sized advice, daily money inspo... and relatable money memes that just get you.
Acknowledgement of Country By Nartarsha Bamblett (nartarshabamblett.com.au)
The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 4451289
See omnystudio.com/listener for privacy information.
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Speaker 1 (00:00):
My name is Satasha Bamblet. I'm a proud First Nations
woman and I'm here to acknowledge country. Te Glenn Young Ganya, Niana,
Kaka yah Ya, Binahwaka Nian our gay In, Nimbini, yak
um Jar, Dominyamiga Umaga, Ihowaka, Nwaman, damon Immalan, Bumba, bang
Gadabomba in and now in Waka Ghana and yak rum
Jar Watanadaa. Hello, beautiful friends, we gather on the lands
(00:24):
of the Aboriginal people. We thank acknowledge and respect the
Aberiginal people's land that we're gathering on today. Take pleasure
in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
bringing you the tools, knowledge and resources for you to thrive.
Speaker 2 (00:44):
She's on the Money. She's on the Money.
Speaker 3 (00:51):
Hello, and welcome to She's on the Money, the podcast
that makes personal finance is fun, especially on a Friday.
You're just here in time for another episode of Friday Drinks,
the time of the week where we gather to celebrate
our incredible shees on the Money community. I'm Victoria Devine
and joining me today is none other than Miss Jesse
Rici with this week's money wins and the absolutely brilliant
(01:12):
Becksied the Voice of the people with a suite of
broke tips for our community. Today, we'll be sharing your
unhinged question of the week, an investment property money dilemma,
plus a DM from a community member who might be
putting home ownership on hold for a job opportunity that
is simply too good to pass up. Jucy exciting all
(01:32):
of those things, There's nothing we love more than answering
your dilemmas. Please please please keep sending them through to
us by a DAM or head to the website and
hit up the podcast page where you can record your message.
Where you can record your message using our virtual answering machine.
Fancy exactly leave your message after the beep. Now, we
also love it when you leave us a review.
Speaker 2 (01:53):
Yes we do.
Speaker 3 (01:54):
Yeah, leave us a voicemail, but also leave us a review.
We're quite needy and I think that's okay, just like
in small doses, which is why we only do one
episode on a Friday. But yes, it is indeed that
time of the day where I share a five star review.
And this one comes from Sandy Pad Sandy or maybe
it's like sand iPad. Anyway, they right, absolute legends. Thank
(02:19):
you so much for sharing your wisdom. You always lift
my spirits. Such a gorgeous dynamic the three of you
have together. I can't stop giggling at bex thoughtful yet
seemingly comical expressions during vd's drawn out informative explanations. But genuinely,
your podcast has changed my life tenfold. I am eternally grateful.
Speaker 2 (02:40):
They are so kind expressions. We can they see us.
We're on video now on video? Oh I forgot about that.
Speaker 3 (02:47):
Okay, you're watching on YouTube.
Speaker 2 (02:49):
We're on YouTube. If you're watching on Apple Podcasts on Wednesday, hello.
Speaker 3 (02:52):
Every single one of our Wednesday episodes is now a video.
Speaker 2 (02:56):
Oh an hdyeah Okay.
Speaker 3 (02:58):
If you're not on Apple, like, you can watch us
on YouTube. We're not on Spotify yet because they don't
have the same technology. It's a little bit fickle, but
we are every single week showing up on Apple. So like,
if you open your Apple app, you can actually just
switch between audio and video.
Speaker 2 (03:13):
Now, that's very cool.
Speaker 3 (03:14):
It sounds like you should have been able to do
it like forever, but the reality is technically that's very
hard to achieve. So shout out to our entire tech
team because that took a lot of pulling together. And
I do really appreciate it because it's really fun. Ye.
Someone DMed me and they were like, oh, I listened
to the podcast, but like, I don't follow you guys
(03:35):
on socials. I thought your voices were reversed. Yess is
Victoria and Victoria is yes, And I was like, surprise.
Speaker 2 (03:45):
Oh my god. Fun. People recognize our voices often before,
like when someone saw me in Spotlight like recently, and
she goes, I heard your voice. I knew it was you.
Speaker 3 (03:54):
Really, it was crazy. It's like a cute place to
find you.
Speaker 2 (03:58):
Of course friends. Yeah.
Speaker 3 (04:01):
I was about to say, that's very just coded.
Speaker 2 (04:03):
Yeah. Should we she start selling because she listened to
the show? Stop.
Speaker 3 (04:07):
I'm obsessed with our little community anyway. Thank you guys
for your reviews and also for loving us or me,
particularly for our very drawn out explanations and expressions alike.
If you would like your review read out on the show,
please leave us one wherever you get your podcasts, Apple, Spotify, wherever.
We honestly adore it. All Right, Jess Beck, it is
(04:27):
time for our question of the week, and this one
comes with a healthy dose of escapism. Okay. Georgia has
asked if you had two thousand dollars to go on
a holiday anywhere in the next six months, where would
you go and for how long? Is it a short
stay bougie or is that like a maxed out time
and you're doing it on a budget.
Speaker 2 (04:49):
My first was Japan because they loved Japan. It was
very affordable, but because they've already been. If I got
three money that was specifically for a holiday, I think
I would want to go. Somewhere in New Korea is
very high on my list.
Speaker 3 (05:00):
It's the same I want to do all of the facials.
Speaker 2 (05:02):
Yeah, or like maybe to Thailand. I've heard amazing things
about Thailand. Somewhere that's relatively closed. It would be somewhat
affordable flight and I do like kind of mid tier
accommodations that I could spend on the activities and the
food and the shopping and those sorts of things. Do
you reckon?
Speaker 3 (05:17):
They do conferences for financing Thailand.
Speaker 2 (05:21):
Oh, leave it with me. Maybe we'll host one host one.
Speaker 3 (05:25):
No, I want to do less work.
Speaker 2 (05:28):
My team retreat to Thailand, less work back.
Speaker 4 (05:32):
Where are you going, okay, So I'm assuming we have
two thousand dollars to spend all up, maybe, which is
almost exactly how much I spent when I went to Japan,
just like a year or two ago.
Speaker 3 (05:43):
And so it's also like a really good deal, yeah,
because we've got really.
Speaker 4 (05:46):
Cheap flights and to be honest, the flight there was
approximately fifty hours because I had to stop over everywhere,
and that's why also cheap. But and then when I
was there, I spent like twelve dollars a day. Also,
I don't mind about already being a what about like
I love.
Speaker 3 (05:59):
Japan, I'm obsessed with you.
Speaker 4 (06:00):
I did lock Japan, so probably do like eight days
in Japan or genuinely, like I would do ten days
in Service Paradise.
Speaker 5 (06:09):
You know what?
Speaker 2 (06:09):
I would do a trip to the Red Center if
you haven't done one before, Yes, because we went to
the NT last year and I still think about it.
Looks amazing, incredible.
Speaker 3 (06:18):
Or Tazzy.
Speaker 2 (06:18):
I'd like to go to Tazzy. Yeah, I have a
long list. Sorry, Victoria somewhere from Tazzy.
Speaker 3 (06:24):
I don't know how you would spend two thousand dollars
in Tasmania, but let me try.
Speaker 2 (06:29):
Yeah, do you know what?
Speaker 3 (06:32):
Can I just take the kids to Noosa?
Speaker 2 (06:34):
Yeah?
Speaker 3 (06:35):
Is that bad? Like I don't I feel like flights
these days, Like the flights to Nosa would be two
thousand dollars, but like go to the Yeah, yes, let's
just pretend it's not like that. Yeah, can I just
do that and like spend the week at like a
mid tier accommodation. They will have a pool because that
(06:55):
would appease my toddler and we just go to the
beach every day, eat the gelado. Like they have fairy
lights in the trees. They're really cute. Or if I
could give my more out of touch answer, I'd spend
the whole two thousand dollars on a really really boogie
weekend at Jackalobe with my husband. Yes, okay, gorgeous, which
is like a luxury hotel on the morning to Mainsula.
(07:19):
Hell yeah, that would I would do the two thousand dollars.
Speaker 2 (07:22):
Yea, I love Let us know where you guys would go.
I'm curious, Yeah, curious.
Speaker 3 (07:26):
I really like the I just love a staycation.
Speaker 2 (07:28):
I love a nice hotel. Don't leave, you didn't leave
the whole time.
Speaker 3 (07:31):
Gorgeous yeh. See and I feel like everyone has different
views on that, Like if you go on holidays, I
know Jess couldn't care less about the hotel. You can, actually,
because I've traveled.
Speaker 2 (07:39):
With Jess and I've been showing the good life.
Speaker 3 (07:42):
Yeah, no, no, no, she likes the good life, like
she wants to feel safe and secure, and like I've
done both with Jess, like we've been through it. We
have stayed in backpackers hostels. We've also stayed in five
style luxury accommodation, so.
Speaker 2 (07:54):
Like we just doing what's a girl that does both?
Speaker 3 (07:56):
Yeah, exactly. But I don't think I could get her
to comfortably camp for a week only if I.
Speaker 2 (08:02):
Was doing like a Dolomite ora, do you know what
I mean? Like I can't make it work like the experience,
but I've never been like a camp on the weekend.
Speaker 4 (08:11):
I think by the end of that seven days we'll
have long you would be like you would never go back,
You'd be big grills, you'd never go back.
Speaker 2 (08:19):
Yet.
Speaker 3 (08:20):
No, I just can't imagine Jests. And I do really
want to copy your Japan trip because do you know
who's in Japan right now?
Speaker 2 (08:27):
I saw this, I was gonna ask you about it.
Speaker 3 (08:28):
It's so sad I'm missing out my test friends Stephan
Rose in Japan. At the moment I was invited, I
couldn't go, Like I can't get a job. I've got
a job, I've got babies. Like, oh, I'm so frustrating,
but loving photos. Oh my goodness. I'm watching my two
best friends like galivant around Japan in the same way
(08:51):
that Jess Steph Rose and I gallivanted around Europe once,
and I'm just like, why.
Speaker 2 (08:57):
Didn't we go?
Speaker 3 (08:58):
Jess follow unfollowing my bestie?
Speaker 2 (09:01):
Yeah, do it?
Speaker 3 (09:01):
You know I'll block her while I'm at it. Anyway,
all right, have we inspired you with all of this
travel talk? Obviously we love to hear it. If you've
got a brilliant question of the week as well, we
would love for you to send it to us. We
accept comments, we accept dms, we accept compliments.
Speaker 2 (09:16):
You name it.
Speaker 3 (09:17):
Would you like to move on to the money wins?
Speaker 1 (09:19):
Beck?
Speaker 3 (09:19):
Are you ready? I'm ready?
Speaker 2 (09:20):
All right?
Speaker 3 (09:20):
Well, strap in. I feel like our community would be
really good at stretching their budget holidays further based on
like their money wins alone. So it's jas Gricci, what
have you got for us? This week.
Speaker 2 (09:30):
Very conveniently and coincidentally, I have a holiday themed moneymin
from Gemma. He said, I got a price match on
accommodation which I booked last year, well before the fuel crisis,
which has obviously impacted tourism. So she was scheduled to
pay three four hundred and fifteen dollars non refundable for
accommodation at ULARU. She looked up the same date, same hotel,
same people, and it's now on sale for nineteen hundred.
(09:52):
Oh my god, good time to get over there. Apparently
so she said it was about a fifteen hundred dollars
price difference to email booking dot com and they matched
it for her.
Speaker 3 (10:00):
Amazing.
Speaker 2 (10:01):
How good is that?
Speaker 3 (10:02):
Such a good saving and like a lot of money
the Red Center we still talk about it.
Speaker 2 (10:07):
It was great. Highly recommend. Next, I've got a money
win from Caitlin, who said I added my newborn onto
my flight and thought it would be about one hundred
and fifty bucks to do so that's what I budgeted for,
but it turned out it was only forty five.
Speaker 3 (10:19):
Really, yeah, you're newborn onto your floor.
Speaker 2 (10:22):
Somebody commented, sid aren't they free under two? But Caitlyn's
traveling internationally. Sure, I'm not sure if she's going to
see I don't know how it worked. I don't know
the semantics. All I know is she's saved herself about
one hundred bucks.
Speaker 3 (10:32):
That's a good deal, and I'm here for it. And
traveling with kids as somebody who has just had her
toddler turn too humbling like I haven't done it yet,
but I do know that he is going to need
an adult seat.
Speaker 2 (10:47):
Expensive h Next, I've got money one from Rihanna who
said my local op shop was having a closing down
sale and everything in store was one dollar. I bought
heaps of great things that I needed and I only
spent forty bucks.
Speaker 3 (10:58):
Great, so good, But Quinn, can we have a forty
dollar hole? I have forty items. That's the whole YouTube video.
Speaker 2 (11:05):
I saw a really interesting tiktalk about this. I'm not
gonna go too far away because I know that we've
got things to get to. But I saw a really
interesting TikTok that said there's this crisis where op shops
are overflowing with stuff. And they said, well, then why
is it all so expensive? Because if you made everything
a dollar or even like everything was three dollars.
Speaker 3 (11:19):
The circular economy would go much quicker. It's an opportunity shop.
Speaker 2 (11:24):
Yeah, that's also anyway, an episode for another day, exactly.
Speaker 3 (11:27):
It's taking the mickey I saw on TikTok the other
day a girl in Sydney had walked into an op shop.
I can't remember which one and probably better not to
name and shame. Anyway, she walked into an op shop
and saw a sideboard that she wanted to purchase and
went up and was like, oh my goodness, like has
this just come in? How much is it? Like? She
couldn't find the price on it, and the woman wouldn't
sell it to her because she said that she wanted
to put it on eBay because she get a better price.
Speaker 2 (11:50):
Oh I don't like that.
Speaker 3 (11:51):
I don't know, isn't that crazy? She's like, I'm gonna
put it on an eBay And she was like, I
would love to purchase it, like I actually have a
carvet it would fit in. Can I take it? And no, no, no, no,
I'm putting it on a beach. She's like, you're an
op shop? What the heck is going on? And she
would get a better price online. It's like that's actually
not ty. Yeah, and it's also really disappointing as somebody
(12:12):
who does give to op shops. That's not why I'm
giving to them. I'm giving to them because I'm like, oh,
this is such a good piece of clothing that I
no longer wear and get use out of, but it's
still got a lot of life left in it, and
I don't want to sell it online, so I'm going
to like donate it and hopefully somebody can walk in
and be like, oh, I love that pair of jeans
and their five bucks money win Like yeah, and they
(12:34):
love them and they wear them.
Speaker 2 (12:36):
Yeah.
Speaker 4 (12:36):
How do we actually get our clothes to low or
no income earners? It's like we don't trust that it's
going to go.
Speaker 3 (12:41):
Yeah, So if anyone has any suggestions of op shops
that are actually doing the good work, which ones are they?
How do we prioritize who to donate it to when
we're donating, because like we do prioritize I don't know
on she's on the money, you know, donating, but also
like clearing out your closet, like being happy with what
you've got, et cetera. But like how do we do
that if then people are taking It feels like they're
(13:03):
taking advantage.
Speaker 2 (13:04):
Yeah, and it's hard because I understand that there's overheads
and you've got to pay staff, and you know, there's
a big conversation around the costs of those things. But
I just think, like, if you're saying you're overflowing, like
my local lop shop isn't taking donations because they've got
so much, can we discount the price and maybe sell
more stuff at a lower price? You clear it out,
you can still pay everybody, yep.
Speaker 3 (13:22):
And also, just to be very clear, most stop shops
are run by volunteers, so you're not paying anybody.
Speaker 2 (13:27):
That's what I'm thinking. There you go.
Speaker 3 (13:29):
Isn't that crazy?
Speaker 2 (13:30):
And maybe a whole episode for future net?
Speaker 3 (13:32):
What else have you got?
Speaker 2 (13:33):
I've got a money from Haley who said she used
the shes and the Money goal sheet tracker as a
challenge for herself and her hubby. They saved one thousand
dollars in three weeks. Stop Now, I don't know, but
they no, No.
Speaker 3 (13:43):
You can't just say you used our savings trucker, what
did you do a thousand dollars?
Speaker 2 (13:48):
She's put a photo of her colored in sheet and
said next they're going to tackle the five thousand dollars
wart hell y very exciting. And then lastly this week,
I've got a money in for Alexandro who said money win.
We have wanted a Ninja Creamy since they first release,
but I couldn't justify at the price. Last week there
was a sale on Amazon and I managed to score
a Ninja Creamy Swirl, so a better model, that's one
I have. That's when you have for two hundred and
(14:09):
twenty dollars, and she got a ten dollar discount coat,
so she paid two hundred and ten instead of the
usual four hundred guys. Many sales around. You got to
tell me.
Speaker 3 (14:18):
Money win es. And I still need to use my
Ninja Creamy to recreate the Peach Soft serve from the
Australian Open. Yeah, oh yes, very niche but like delicious,
we're on it. We still need to do that. I
think that that's peak winter activity. Actually it's an indoor
activity and we can pump the heater in my house
(14:38):
and pretend it's summer.
Speaker 5 (14:40):
I like it.
Speaker 2 (14:40):
That sounds lovely. It's a great. Yeah, you're welcome to join, Yes,
so my do everyone come over with summer party?
Speaker 5 (14:46):
Yeah?
Speaker 2 (14:47):
Lovely.
Speaker 3 (14:47):
Come on, I'm very excited, all right. I know we're
only just beginning a new financial year, but it's honestly
never too soon to be practicing really thrifty habits. Right back,
what broke tips you share with us today? Okay, so
I have this.
Speaker 4 (15:03):
First one from Banksy. Great name maybe anonymous who knows
Banksy says. I sign up for star Link, which is
an internet provider. Then learned about their referral program where
you give a referral link and you and the person
who uses it to sign up gets one month free.
So Banksy posted may link in one of their posts
last week and two people used it two months free.
(15:25):
So it also reminded me that a lot of people
do as I see this in like you know, random
you might even find with the Ninja Creamy. There are
places you can go on Reddit, for example, and they're like,
use my referral code. So the person who uses like
it's like a win win, you know what I mean,
You get something, they get something. But there are places
you can find it where people are trying to give
you a referral code if you're looking for one. So
(15:46):
banks whatever, whatever you want, but that's just a really
good reminder to get out there and look before signing
up for anything, before buying anything. See if anyone's got
one line around. So the next one comes from Josie,
who says, I use my lip bum as eyebrows gel
sticks those babies down really well.
Speaker 3 (16:02):
What I didn't even know that was an option that
would be so easy to apply as well.
Speaker 2 (16:06):
Absolutely, as a certified member of the Crazy Eyebrows Club,
I'm going to try it.
Speaker 3 (16:12):
Sounds eyebrow gel in a lip bum container.
Speaker 2 (16:15):
Yeah, just a little, Yeah, it would.
Speaker 3 (16:17):
That's so true too, Like the process would be, that's true, and.
Speaker 4 (16:23):
They always feel really like dense and sticky. So I'm like,
that's staying, do you know what I mean? She also
uses Blush's eye shadow, et cetera. So many makeup products
can serve as a dual purpose. Don't waste money on
every product totally.
Speaker 3 (16:36):
So right now on my eyes, my eye shadow is
my bronzer and my highlighter. Yes, and I do that
all the time. And I might have run out of
eyebrow gel, and I might be just using a really
old schooly and spraying it with my husband's hairspray and
then using that.
Speaker 2 (16:54):
But perfect.
Speaker 3 (16:57):
I'm coming at it absolutely five, like it's not even
good hairspray.
Speaker 4 (17:03):
And my one is if you're a writer or just
enjoy writing or blogging, there's a platform called Medium where
you can actually make money for posting or sharing your
stuff on there. Apparently, if something goes viral or gets
lots of engagement, you can make a good chunk of money.
I have heard of some people making like two thousand
dollars a week and others like fifty dollars a week.
Speaker 3 (17:20):
It's like crazy, somebody tweet see I need articles on
Medium because when I sometimes google like niche topics, it
will come up with a Medium article. They didn't know
that it was like commercialized in that way.
Speaker 2 (17:31):
Like a sub start. Is it kind of the same vibe.
Speaker 4 (17:33):
I know what subsec is, but I have no idea
how it works, but I think it's probably something if
they if you can. I don't know how the creators
get money. Maybe there's like ads on the side of
their blogs or something. But yeah, if you enjoy it,
it's like better to just give it a go anyway,
even if you don't like that. I really want a
substack like I made, like one of my news resolutions
was like create a substack, but I just haven't had
(17:54):
the capacity to do it. And I also just want
to make sure that if I did it, I was
actually like doing it.
Speaker 3 (18:01):
Well, yeah, like allocating the time to actually write stuff
of substance and I just don't have enough time. But
maybe if I'm making money from it, that changes how
much time I allocation.
Speaker 2 (18:12):
So true? Yeah?
Speaker 3 (18:14):
Interesting. Okay, if you've got a money in Aora broke
tip that you want to share with our community, please
join our Facebook group so She's on the Money and
get in on the goss at a ground level. When
we return from the break, we're going to be covering
this week's money dilemma, So don't go away.
Speaker 2 (18:31):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 6 (18:37):
Hi, there, have you got a money dilemma you just
can't solve. The She's on the Money team is here
to help.
Speaker 3 (18:42):
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. Hello.
Speaker 5 (19:01):
I thought someone was a bit interesting and thought you
might enjoy it. I am currently renting with my fiance
and we're looking at purchasing a house, hopefully soon. However,
I currently have an investment property in a different city
that i'm refinancing. It's a small shoe box over sixties
village kind of unit and it has about one hundred
K that's left on it. My fiance has always been
(19:24):
a big saver, and so he offered to pay off
the entirety of the remaining loan. This also means that
the potential house deposit for our own place is a
bit lower. It being paid off means a bit of
less stress for us and potential for a bigger return
on investment. But I'm also the opinion that you know
this isn't necessarily a bad mortgage to have at this point,
(19:49):
but would love your thoughts.
Speaker 2 (19:50):
Love the pod.
Speaker 5 (19:51):
Thanks.
Speaker 3 (19:52):
What would you guys do?
Speaker 4 (19:53):
I would think pay it off? I mean, obviously depends
on how much much interest is on the loan. Am
I maybe on the right track, and so I would
just say paid off because debt is what you just
don't want debt if you can get rid of dead.
(20:14):
I just think that you should definitely paid off, is
what I'm thinking.
Speaker 2 (20:17):
I disagree. I feel like it would all probably come
out in the wash, in the sense of I understand
you're getting married, and I have no context as to
how you're sharing your finances. But like coming at it
from my own lands, everybody knows because I won't shut
the hell up about it. I'm building my own house
or by myself. Cool, the look will be thank you validating.
The look will be one day my partner and I
(20:37):
will buy a house together. Obviously, when you're de facto,
there's all these laws that come into a you know,
play around, like who's entitled to what? Da da da dah. However, yeah,
like there's an argument for that's your pre existing asset,
which is the case for our listener right now. I
don't assuming he hasn't been contributing to the mortgage or
anything thus far. I also think that so you're saying
(20:59):
his thinking is put one hundred K towards this house
instead of putting it towards your next house. To me,
is it potatoes? Potatoes?
Speaker 1 (21:06):
Oh?
Speaker 2 (21:07):
Yeah? Do you know what I mean? Like the one
hundred k off that mortgage means like, yes, you wouldn't
be paying that mortgage down, but it means that your
loan for the next house would potentially be one hundred
thousand dollars higher, and or you could potentially just be
using the equity of that house to borrow anyway. Oh
and I don't know how the math's maths on that,
(21:27):
but to me, I just don't necessarily know that taking
one hundred thousand dollars from Peter to pay Paul or
from you know, the next house to pay for the
old house. I don't actually know if that would make
a difference. I mean maybe if the loans were different,
but then like, do we look at refinancing the existing mortgage.
I'm sure I'm saying a bunch of things that Victori
is about to touch on because obviously she has mortgage
breaking company.
Speaker 3 (21:48):
That's crazy. If I had an opinion away soon to
be broker, oh my god, yes, it's so crazy. So
my immediate thought wasn't asset protection, And maybe it should
have been, because that is also really important, Like if
you're letting him pay off equity on an asset that
he doesn't have his name on, I think it could
(22:10):
get a little bit messy, try to take justice advice,
but my brain went straight to deductible versus non deductible debt,
and paying off deductible tax debt could be inefficient. So
in your investment property, you can claim your debt on
tax because it's an investment. Yeah, but if you had
(22:32):
that in a residential property that you live in, not deductible.
It's non deductible, And like, personally, if I had an
investment property, I wouldn't be paying it off. In fact,
if I had any financial pressures, like I would very
quickly change it to just interest only and keep my
debt longer in an investment property than I would my
(22:54):
primary place of residence. Is that's so, but that's just me,
and you need to talk to your accountant about what
that would be. But I would go to an account
with that and be like, we're in this really privileged position.
We have this amount of money, what's the best use
of this. This is where good financial advice comes in,
because like, a cleaner structure could be keeping the investment
loan in place and putting the hundred thousand dollars into
(23:17):
an offset account, maybe against either of the investment property
loan or more than likely like your future home that
you're going to own together, because an offset can reduce
interest without I guess, permanently paying down the loan. And
this matters because once money is paid directly into the loan,
like later redrawing it for like private you know, reasons
(23:40):
and how whatever you want to do with it, it
can create really messy deductibility issues. Yeah, like it's just
it's a bit messy. And then the ATO focuses honestly
on what the borrowed money is used for, not just
which property secures the loan. So I just think if
the fiance paid off the one hundred thousand dollar. Again
I'm not an accountant, please talk to one. If your
(24:03):
fiance pays one hundred thousand dollars off your loan and
that property is not in their name, then that's not
automatically a tax deduction for your fiance. It might actually
be treated more as a gift or like a relationship contribution,
depending on the documentation that you have.
Speaker 4 (24:19):
Is oil mortgage tax deductible if it's an investment property.
Speaker 3 (24:22):
No, not all of it, but like the cost of
the interest that you pay.
Speaker 2 (24:27):
Oh yeah, and holding that loan would also mean you
can claim Oh would you get to claim it anyway?
You know, if there's repairs and stuff, But that would matter.
Speaker 3 (24:36):
So I guess my advice would be, do not pay
off that investment loan until you have proper tax advice. Okay,
that's my recommendation.
Speaker 2 (24:44):
Good advice.
Speaker 3 (24:45):
Call your accountant and be like, hey, like should I shouldn't?
I because it sounds like really nice, like because immediately
I think your brain goes to being debt free, Oh
my god, amazing. But also you're not going to be
completely debt free. Yes, like one little part of your
debt might be paid off and it feels good, but like,
what's the bigger picture? Look like you could be in
(25:07):
a better financial situation with some smart strategy. True, and
we love smart strategy in this house.
Speaker 2 (25:14):
You all right?
Speaker 3 (25:15):
This week's DM seems to follow a little bit of
a similar theme in that both community members seem to
be doing all the right things and just life has
thrown them in exciting opportunity. So they wrote in are
you ready? Yes, all right, she's on the money. Please help.
That's what we're here for. I am so torn. I
feel like I've spent the last five years doing everything
in quotation marks right. I've lived at home longer than
(25:38):
I wanted to. I skipped holidays, and I've said no
to plenty of dinners and weekends away, and I've put
every spare dollar towards saving for a house deposit. And
I have finally reached my goal. Ah, congratulations, amazing. The
problem is that I have just been offered a two
year role overseas. It's an incredible opportunity in an industry
that is so difficult to break into, and it could
(25:59):
open doors that simply would not be available to me
if I stayed. Some days I think that the house
can wait, because I'll never get these years back, and
experiences like this do not come around often. Other days
I panic that I'll come back to an even more
expensive property market and regret not buying when I had
the chance. My family thinks I am crazy for even
considering putting home ownership on hold after working so hard
(26:21):
to say what should I do?
Speaker 4 (26:22):
Well, First of all, why, I guess maybe if you're
paying for your own.
Speaker 3 (26:28):
Poor can or lost us? Is that where we're going?
Speaker 4 (26:30):
That's what I'm than because I'm like, why did to
put that on hold. I know that it's less cost
effective if you are not living in the house, you're
not occupied, so like something about tax costs more or
something like that, But I don't see why, especially if
you're not living in it, like you can buy something
cheaper that whatever. Whatever, I'll just like rent it out.
(26:51):
I would not, in any reality and not in any world,
not take the opportunity to do this job overseas. And
I am differently personally. I don't like to leave my
comfort place. I like to stay with all my friends.
I personally would leave. But if it's something I was
working toward and the experiences I would gain, like absolutely,
without a doubt, I would do that and just try
(27:12):
and find a way to still get into the market.
Speaker 2 (27:14):
That's good advice.
Speaker 3 (27:16):
I'm so glad that Beck's not leaving.
Speaker 2 (27:17):
Yeah, I don't. I'm assuming that she would need to
take some of the money from her house deposit fund
the overseas move would be my guest.
Speaker 3 (27:25):
That's what I was thinking, And I was like, Oh,
is that what's happening or are you just like I
don't want to buy because like I'm moving overseas.
Speaker 2 (27:33):
In which case, if that's the feeling, I stand with
what Beck said on the assumption that you would have
to spend a chunk of your money to get yourself
set up overseas, I agree with Beck. I think that
it's an opportunity. The way you've written to us about it,
you can feel your excitement, like I can tell that
you want to do this, and I think it's the
(27:53):
kind of thing you probably would regret if you didn't.
As someone who has just god, I'm insufferable, someone who's.
Speaker 3 (28:00):
Been yes, I cannot tell you how happy I get
every time you talk about buying a house. I have
been talking to you about this almost every day for
six years. You have worked, she's on the money for
six years, and the entire community has been hearing about
this journey of you saving for a first house, thinking
(28:21):
about a first house, not buying a first house. We
are so damn happy you tell us every day that
you bought a house. Sorry, on her own, bought her
own house. Incredible, doesn't need a man, Okay, I mean
still has one. Doesn't need him though, incredible Sorry times,
but that's still play.
Speaker 2 (28:40):
But like I like, I have that feeling now. I
wish i'd bought five years ago, but I was in
the position to do so, you know, five years ago,
I wish I'd bought a house five years before that. Like,
I think that feeling is always going to exist no
matter what you do, and I don't think you should
let that hold you back from doing something that you
seem so passionately about. The housing market will always be there.
(29:02):
You could explore other investment options, you know, the share
market is are great, you know, depending on your appetite,
et cetera. But I think that you don't want to
live your life with regret. And I think you're saying
to us that this is like a once in a
lifetime opportunity where buying a house isn't. Like, yes, you
might pay more in a few years, but if you
never get the chance to work overseas again in this
(29:24):
particular field, that seems like a bigger opportunity cost to me.
Speaker 3 (29:28):
Yeah, I was reflecting on something similar. So one of
my girlfriends lives overseas and Rosie, we've spoken about her
on the show literally this episode, and I just was like,
how cool is that? Like she moved to London, she's
lived in Canada, like she's done a whole heap of
really cool things. And I don't know. I think that
at three am when you're up feeding a three month old,
(29:50):
like you just think and have too many thoughts. And
I was thinking about and by the way, when I
say three months old, six months old, isn't that terrifying?
Speaker 2 (30:02):
Whoah, oh that's crazy.
Speaker 3 (30:03):
I was like, oh my god, I've missed that boat
for me. Like I'm not mad, I'm really like, I'm
really grateful for the position I am in in life,
but like I can't upper move to London. I can't
upper move to New York. I could have when I
was twenty and I wasn't way down, but like life
is so different now, and I'm not mad. I adore it,
but I just go, twenty year old me should have
(30:25):
done something like that. She should have gone and lived overseas,
and like that would have been really cool. So I
get not only you going, I can see myself regretting it,
but I go. I think I regret it a little bit.
And I wish that I'd been more opportunistic in saying
that I was a little bit naive and angsty in
my early twenties. I don't think I would have just
(30:47):
purely because I would have been too scared, then that's fine,
But like, hindsight's a beautiful thing. But I think you
should come and talk to us at Zella Money. I
think you should come in and have a chat with
one of our brokers and be like, this is my
sitty situation. What would it look like to buy a house?
What would it look like to have an investment property
while I'm overseas? What would it look like to buy
(31:08):
when I got back after two years? What would it
look like if I didn't come back after two years
and work all of that out? Because if you've been
saving and you've been planning, great, we can still achieve it.
But like, let's just like maybe make a few different plans.
So instead of hypotheticals, we've got a few different plans
on the table, and you know what each option kind
of looks like, so that you can make the best
(31:29):
decision for you. Is what I would say.
Speaker 2 (31:30):
But what did everybody else think?
Speaker 3 (31:31):
Okay, So the first question I asked the community was
if you were in this position, would you prioritize experience
over property? Ninety three percent of you said yep, experience
is just as important. We then asked would your answer
change if the property market continued to rise while you
were away. Twenty five percent of you you said yeah,
I changed my answer, but seventy five percent said no.
Speaker 2 (31:51):
Incredible.
Speaker 3 (31:52):
Then we asked, should family opinions factor into a decision
like this? No, Well good because seventy nine percent of
you said no. I then said, guys, what is your
two cents? And this is my favorite question ever. First
person said, buy a property rented out for the duration
of time that you have overseas?
Speaker 2 (32:11):
Incredible?
Speaker 3 (32:12):
Can you buy and rent out while overseas? Can you
purchase a property and have a tenant move in? Would
you consider an investment property you could move into it
when you come back. You guys all have wooden brains.
Cell It's like Jess and I like we like have
the same thing to say, but in just a round
about way. Often another person said life is for living
(32:35):
and tomorrow isn't promised to take opportunities when they land
on your doorstep.
Speaker 2 (32:39):
Agree, that's very beautiful.
Speaker 3 (32:40):
I genuinely have never laughed so hard at like a
response like a comment section, because they are literally all,
why don't you buy a property and rent it out?
You not like scrolling through this, Go do the job.
The house can wait. You could also buy one before
you leave, Like we all are on the same page.
(33:01):
I get it, But overwhelmingly the community is like, please
just take an opportunity. You can always change your mind.
And I think that that is, you know, the story
and the narrative and the thing we'll leave on because
there wasn't actually in this response a lot of diversity
of opinion.
Speaker 2 (33:18):
And I feel like that says a lot as well,
doesn't it.
Speaker 3 (33:21):
I just thought it was so funny, like doing those comments,
I'm like, oh, okay, so we are just all queens
on the same page.
Speaker 2 (33:28):
Please keep us posted as well.
Speaker 3 (33:29):
Really exactly, and like we adore hearing that our community
was on track to achieving their money goals. And I
guess things like relationships and job opportunities are presenting, you know,
really exciting side quests for you guys. And how cute
is it? Guys they want our opinion. I don't know
what they should do with their life. Sweet that's crazy
(33:49):
to me. All right, lovely listeners, it is time for
us to go home, because that is all we have
time for today. Whether you are listening on your hot
girl walk or you're in the car, or you're simply
for tending to work at your desk. We appreciate you,
thank you so much for being a part of this community,
and we get to see you on Monday for a
brand new money diary. Have the best weekend, by guys.
Speaker 2 (34:10):
Bye.
Speaker 6 (34:15):
The advice shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial.
Speaker 3 (34:34):
Advice tailored towards your needs.
Speaker 6 (34:36):
Victoria Divine and She's on the Money are authorized representatives
of Money. Sheirper Pty Ltd ABN three two one six
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My name is Satasha Bamblet. I'm a proud First Nations
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Jar Watanadaa. Hello, beautiful friends, we gather on the lands
(00:24):
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in all the land and respect all that you see.
She's on the Money podcast acknowledges culture, country, community and connections,
bringing you the tools, knowledge and resources for you to thrive.
Speaker 2 (00:44):
She's on the Money. She's on the Money.
Speaker 3 (00:51):
Hello, and welcome to She's on the Money, the podcast
that makes personal finance is fun, especially on a Friday.
You're just here in time for another episode of Friday Drinks,
the time of the week where we gather to celebrate
our incredible shees on the Money community. I'm Victoria Devine
and joining me today is none other than Miss Jesse
Rici with this week's money wins and the absolutely brilliant
(01:12):
Becksied the Voice of the people with a suite of
broke tips for our community. Today, we'll be sharing your
unhinged question of the week, an investment property money dilemma,
plus a DM from a community member who might be
putting home ownership on hold for a job opportunity that
is simply too good to pass up. Jucy exciting all
(01:32):
of those things, There's nothing we love more than answering
your dilemmas. Please please please keep sending them through to
us by a DAM or head to the website and
hit up the podcast page where you can record your message.
Where you can record your message using our virtual answering machine.
Fancy exactly leave your message after the beep. Now, we
also love it when you leave us a review.
Speaker 2 (01:53):
Yes we do.
Speaker 3 (01:54):
Yeah, leave us a voicemail, but also leave us a review.
We're quite needy and I think that's okay, just like
in small doses, which is why we only do one
episode on a Friday. But yes, it is indeed that
time of the day where I share a five star review.
And this one comes from Sandy Pad Sandy or maybe
it's like sand iPad. Anyway, they right, absolute legends. Thank
(02:19):
you so much for sharing your wisdom. You always lift
my spirits. Such a gorgeous dynamic the three of you
have together. I can't stop giggling at bex thoughtful yet
seemingly comical expressions during vd's drawn out informative explanations. But genuinely,
your podcast has changed my life tenfold. I am eternally grateful.
Speaker 2 (02:40):
They are so kind expressions. We can they see us.
We're on video now on video? Oh I forgot about that.
Speaker 3 (02:47):
Okay, you're watching on YouTube.
Speaker 2 (02:49):
We're on YouTube. If you're watching on Apple Podcasts on Wednesday, hello.
Speaker 3 (02:52):
Every single one of our Wednesday episodes is now a video.
Speaker 2 (02:56):
Oh an hdyeah Okay.
Speaker 3 (02:58):
If you're not on Apple, like, you can watch us
on YouTube. We're not on Spotify yet because they don't
have the same technology. It's a little bit fickle, but
we are every single week showing up on Apple. So like,
if you open your Apple app, you can actually just
switch between audio and video.
Speaker 2 (03:13):
Now, that's very cool.
Speaker 3 (03:14):
It sounds like you should have been able to do
it like forever, but the reality is technically that's very
hard to achieve. So shout out to our entire tech
team because that took a lot of pulling together. And
I do really appreciate it because it's really fun. Ye.
Someone DMed me and they were like, oh, I listened
to the podcast, but like, I don't follow you guys
(03:35):
on socials. I thought your voices were reversed. Yess is
Victoria and Victoria is yes, And I was like, surprise.
Speaker 2 (03:45):
Oh my god. Fun. People recognize our voices often before,
like when someone saw me in Spotlight like recently, and
she goes, I heard your voice. I knew it was you.
Speaker 3 (03:54):
Really, it was crazy. It's like a cute place to
find you.
Speaker 2 (03:58):
Of course friends. Yeah.
Speaker 3 (04:01):
I was about to say, that's very just coded.
Speaker 2 (04:03):
Yeah. Should we she start selling because she listened to
the show? Stop.
Speaker 3 (04:07):
I'm obsessed with our little community anyway. Thank you guys
for your reviews and also for loving us or me,
particularly for our very drawn out explanations and expressions alike.
If you would like your review read out on the show,
please leave us one wherever you get your podcasts, Apple, Spotify, wherever.
We honestly adore it. All Right, Jess Beck, it is
(04:27):
time for our question of the week, and this one
comes with a healthy dose of escapism. Okay. Georgia has
asked if you had two thousand dollars to go on
a holiday anywhere in the next six months, where would
you go and for how long? Is it a short
stay bougie or is that like a maxed out time
and you're doing it on a budget.
Speaker 2 (04:49):
My first was Japan because they loved Japan. It was
very affordable, but because they've already been. If I got
three money that was specifically for a holiday, I think
I would want to go. Somewhere in New Korea is
very high on my list.
Speaker 3 (05:00):
It's the same I want to do all of the facials.
Speaker 2 (05:02):
Yeah, or like maybe to Thailand. I've heard amazing things
about Thailand. Somewhere that's relatively closed. It would be somewhat
affordable flight and I do like kind of mid tier
accommodations that I could spend on the activities and the
food and the shopping and those sorts of things. Do
you reckon?
Speaker 3 (05:17):
They do conferences for financing Thailand.
Speaker 2 (05:21):
Oh, leave it with me. Maybe we'll host one host one.
Speaker 3 (05:25):
No, I want to do less work.
Speaker 2 (05:28):
My team retreat to Thailand, less work back.
Speaker 4 (05:32):
Where are you going, okay, So I'm assuming we have
two thousand dollars to spend all up, maybe, which is
almost exactly how much I spent when I went to Japan,
just like a year or two ago.
Speaker 3 (05:43):
And so it's also like a really good deal, yeah,
because we've got really.
Speaker 4 (05:46):
Cheap flights and to be honest, the flight there was
approximately fifty hours because I had to stop over everywhere,
and that's why also cheap. But and then when I
was there, I spent like twelve dollars a day. Also,
I don't mind about already being a what about like
I love.
Speaker 3 (05:59):
Japan, I'm obsessed with you.
Speaker 4 (06:00):
I did lock Japan, so probably do like eight days
in Japan or genuinely, like I would do ten days
in Service Paradise.
Speaker 5 (06:09):
You know what?
Speaker 2 (06:09):
I would do a trip to the Red Center if
you haven't done one before, Yes, because we went to
the NT last year and I still think about it.
Looks amazing, incredible.
Speaker 3 (06:18):
Or Tazzy.
Speaker 2 (06:18):
I'd like to go to Tazzy. Yeah, I have a
long list. Sorry, Victoria somewhere from Tazzy.
Speaker 3 (06:24):
I don't know how you would spend two thousand dollars
in Tasmania, but let me try.
Speaker 2 (06:29):
Yeah, do you know what?
Speaker 3 (06:32):
Can I just take the kids to Noosa?
Speaker 2 (06:34):
Yeah?
Speaker 3 (06:35):
Is that bad? Like I don't I feel like flights
these days, Like the flights to Nosa would be two
thousand dollars, but like go to the Yeah, yes, let's
just pretend it's not like that. Yeah, can I just
do that and like spend the week at like a
mid tier accommodation. They will have a pool because that
(06:55):
would appease my toddler and we just go to the
beach every day, eat the gelado. Like they have fairy
lights in the trees. They're really cute. Or if I
could give my more out of touch answer, I'd spend
the whole two thousand dollars on a really really boogie
weekend at Jackalobe with my husband. Yes, okay, gorgeous, which
is like a luxury hotel on the morning to Mainsula.
(07:19):
Hell yeah, that would I would do the two thousand dollars.
Speaker 2 (07:22):
Yea, I love Let us know where you guys would go.
I'm curious, Yeah, curious.
Speaker 3 (07:26):
I really like the I just love a staycation.
Speaker 2 (07:28):
I love a nice hotel. Don't leave, you didn't leave
the whole time.
Speaker 3 (07:31):
Gorgeous yeh. See and I feel like everyone has different
views on that, Like if you go on holidays, I
know Jess couldn't care less about the hotel. You can, actually,
because I've traveled.
Speaker 2 (07:39):
With Jess and I've been showing the good life.
Speaker 3 (07:42):
Yeah, no, no, no, she likes the good life, like
she wants to feel safe and secure, and like I've
done both with Jess, like we've been through it. We
have stayed in backpackers hostels. We've also stayed in five
style luxury accommodation, so.
Speaker 2 (07:54):
Like we just doing what's a girl that does both?
Speaker 3 (07:56):
Yeah, exactly. But I don't think I could get her
to comfortably camp for a week only if I.
Speaker 2 (08:02):
Was doing like a Dolomite ora, do you know what
I mean? Like I can't make it work like the experience,
but I've never been like a camp on the weekend.
Speaker 4 (08:11):
I think by the end of that seven days we'll
have long you would be like you would never go back,
You'd be big grills, you'd never go back.
Speaker 2 (08:19):
Yet.
Speaker 3 (08:20):
No, I just can't imagine Jests. And I do really
want to copy your Japan trip because do you know
who's in Japan right now?
Speaker 2 (08:27):
I saw this, I was gonna ask you about it.
Speaker 3 (08:28):
It's so sad I'm missing out my test friends Stephan
Rose in Japan. At the moment I was invited, I
couldn't go, Like I can't get a job. I've got
a job, I've got babies. Like, oh, I'm so frustrating,
but loving photos. Oh my goodness. I'm watching my two
best friends like galivant around Japan in the same way
(08:51):
that Jess Steph Rose and I gallivanted around Europe once,
and I'm just like, why.
Speaker 2 (08:57):
Didn't we go?
Speaker 3 (08:58):
Jess follow unfollowing my bestie?
Speaker 2 (09:01):
Yeah, do it?
Speaker 3 (09:01):
You know I'll block her while I'm at it. Anyway,
all right, have we inspired you with all of this
travel talk? Obviously we love to hear it. If you've
got a brilliant question of the week as well, we
would love for you to send it to us. We
accept comments, we accept dms, we accept compliments.
Speaker 2 (09:16):
You name it.
Speaker 3 (09:17):
Would you like to move on to the money wins?
Speaker 1 (09:19):
Beck?
Speaker 3 (09:19):
Are you ready? I'm ready?
Speaker 2 (09:20):
All right?
Speaker 3 (09:20):
Well, strap in. I feel like our community would be
really good at stretching their budget holidays further based on
like their money wins alone. So it's jas Gricci, what
have you got for us? This week.
Speaker 2 (09:30):
Very conveniently and coincidentally, I have a holiday themed moneymin
from Gemma. He said, I got a price match on
accommodation which I booked last year, well before the fuel crisis,
which has obviously impacted tourism. So she was scheduled to
pay three four hundred and fifteen dollars non refundable for
accommodation at ULARU. She looked up the same date, same hotel,
same people, and it's now on sale for nineteen hundred.
(09:52):
Oh my god, good time to get over there. Apparently
so she said it was about a fifteen hundred dollars
price difference to email booking dot com and they matched
it for her.
Speaker 3 (10:00):
Amazing.
Speaker 2 (10:01):
How good is that?
Speaker 3 (10:02):
Such a good saving and like a lot of money
the Red Center we still talk about it.
Speaker 2 (10:07):
It was great. Highly recommend. Next, I've got a money
win from Caitlin, who said I added my newborn onto
my flight and thought it would be about one hundred
and fifty bucks to do so that's what I budgeted for,
but it turned out it was only forty five.
Speaker 3 (10:19):
Really, yeah, you're newborn onto your floor.
Speaker 2 (10:22):
Somebody commented, sid aren't they free under two? But Caitlyn's
traveling internationally. Sure, I'm not sure if she's going to
see I don't know how it worked. I don't know
the semantics. All I know is she's saved herself about
one hundred bucks.
Speaker 3 (10:32):
That's a good deal, and I'm here for it. And
traveling with kids as somebody who has just had her
toddler turn too humbling like I haven't done it yet,
but I do know that he is going to need
an adult seat.
Speaker 2 (10:47):
Expensive h Next, I've got money one from Rihanna who
said my local op shop was having a closing down
sale and everything in store was one dollar. I bought
heaps of great things that I needed and I only
spent forty bucks.
Speaker 3 (10:58):
Great, so good, But Quinn, can we have a forty
dollar hole? I have forty items. That's the whole YouTube video.
Speaker 2 (11:05):
I saw a really interesting tiktalk about this. I'm not
gonna go too far away because I know that we've
got things to get to. But I saw a really
interesting TikTok that said there's this crisis where op shops
are overflowing with stuff. And they said, well, then why
is it all so expensive? Because if you made everything
a dollar or even like everything was three dollars.
Speaker 3 (11:19):
The circular economy would go much quicker. It's an opportunity shop.
Speaker 2 (11:24):
Yeah, that's also anyway, an episode for another day, exactly.
Speaker 3 (11:27):
It's taking the mickey I saw on TikTok the other
day a girl in Sydney had walked into an op shop.
I can't remember which one and probably better not to
name and shame. Anyway, she walked into an op shop
and saw a sideboard that she wanted to purchase and
went up and was like, oh my goodness, like has
this just come in? How much is it? Like? She
couldn't find the price on it, and the woman wouldn't
sell it to her because she said that she wanted
to put it on eBay because she get a better price.
Speaker 2 (11:50):
Oh I don't like that.
Speaker 3 (11:51):
I don't know, isn't that crazy? She's like, I'm gonna
put it on an eBay And she was like, I
would love to purchase it, like I actually have a
carvet it would fit in. Can I take it? And no, no, no, no,
I'm putting it on a beach. She's like, you're an
op shop? What the heck is going on? And she
would get a better price online. It's like that's actually
not ty. Yeah, and it's also really disappointing as somebody
(12:12):
who does give to op shops. That's not why I'm
giving to them. I'm giving to them because I'm like, oh,
this is such a good piece of clothing that I
no longer wear and get use out of, but it's
still got a lot of life left in it, and
I don't want to sell it online, so I'm going
to like donate it and hopefully somebody can walk in
and be like, oh, I love that pair of jeans
and their five bucks money win Like yeah, and they
(12:34):
love them and they wear them.
Speaker 2 (12:36):
Yeah.
Speaker 4 (12:36):
How do we actually get our clothes to low or
no income earners? It's like we don't trust that it's
going to go.
Speaker 3 (12:41):
Yeah, So if anyone has any suggestions of op shops
that are actually doing the good work, which ones are they?
How do we prioritize who to donate it to when
we're donating, because like we do prioritize I don't know
on she's on the money, you know, donating, but also
like clearing out your closet, like being happy with what
you've got, et cetera. But like how do we do
that if then people are taking It feels like they're
(13:03):
taking advantage.
Speaker 2 (13:04):
Yeah, and it's hard because I understand that there's overheads
and you've got to pay staff, and you know, there's
a big conversation around the costs of those things. But
I just think, like, if you're saying you're overflowing, like
my local lop shop isn't taking donations because they've got
so much, can we discount the price and maybe sell
more stuff at a lower price? You clear it out,
you can still pay everybody, yep.
Speaker 3 (13:22):
And also, just to be very clear, most stop shops
are run by volunteers, so you're not paying anybody.
Speaker 2 (13:27):
That's what I'm thinking. There you go.
Speaker 3 (13:29):
Isn't that crazy?
Speaker 2 (13:30):
And maybe a whole episode for future net?
Speaker 3 (13:32):
What else have you got?
Speaker 2 (13:33):
I've got a money from Haley who said she used
the shes and the Money goal sheet tracker as a
challenge for herself and her hubby. They saved one thousand
dollars in three weeks. Stop Now, I don't know, but
they no, No.
Speaker 3 (13:43):
You can't just say you used our savings trucker, what
did you do a thousand dollars?
Speaker 2 (13:48):
She's put a photo of her colored in sheet and
said next they're going to tackle the five thousand dollars
wart hell y very exciting. And then lastly this week,
I've got a money in for Alexandro who said money win.
We have wanted a Ninja Creamy since they first release,
but I couldn't justify at the price. Last week there
was a sale on Amazon and I managed to score
a Ninja Creamy Swirl, so a better model, that's one
I have. That's when you have for two hundred and
(14:09):
twenty dollars, and she got a ten dollar discount coat,
so she paid two hundred and ten instead of the
usual four hundred guys. Many sales around. You got to
tell me.
Speaker 3 (14:18):
Money win es. And I still need to use my
Ninja Creamy to recreate the Peach Soft serve from the
Australian Open. Yeah, oh yes, very niche but like delicious,
we're on it. We still need to do that. I
think that that's peak winter activity. Actually it's an indoor
activity and we can pump the heater in my house
(14:38):
and pretend it's summer.
Speaker 5 (14:40):
I like it.
Speaker 2 (14:40):
That sounds lovely. It's a great. Yeah, you're welcome to join, Yes,
so my do everyone come over with summer party?
Speaker 5 (14:46):
Yeah?
Speaker 2 (14:47):
Lovely.
Speaker 3 (14:47):
Come on, I'm very excited, all right. I know we're
only just beginning a new financial year, but it's honestly
never too soon to be practicing really thrifty habits. Right back,
what broke tips you share with us today? Okay, so
I have this.
Speaker 4 (15:03):
First one from Banksy. Great name maybe anonymous who knows
Banksy says. I sign up for star Link, which is
an internet provider. Then learned about their referral program where
you give a referral link and you and the person
who uses it to sign up gets one month free.
So Banksy posted may link in one of their posts
last week and two people used it two months free.
(15:25):
So it also reminded me that a lot of people
do as I see this in like you know, random
you might even find with the Ninja Creamy. There are
places you can go on Reddit, for example, and they're like,
use my referral code. So the person who uses like
it's like a win win, you know what I mean,
You get something, they get something. But there are places
you can find it where people are trying to give
you a referral code if you're looking for one. So
(15:46):
banks whatever, whatever you want, but that's just a really
good reminder to get out there and look before signing
up for anything, before buying anything. See if anyone's got
one line around. So the next one comes from Josie,
who says, I use my lip bum as eyebrows gel
sticks those babies down really well.
Speaker 3 (16:02):
What I didn't even know that was an option that
would be so easy to apply as well.
Speaker 2 (16:06):
Absolutely, as a certified member of the Crazy Eyebrows Club,
I'm going to try it.
Speaker 3 (16:12):
Sounds eyebrow gel in a lip bum container.
Speaker 2 (16:15):
Yeah, just a little, Yeah, it would.
Speaker 3 (16:17):
That's so true too, Like the process would be, that's true, and.
Speaker 4 (16:23):
They always feel really like dense and sticky. So I'm like,
that's staying, do you know what I mean? She also
uses Blush's eye shadow, et cetera. So many makeup products
can serve as a dual purpose. Don't waste money on
every product totally.
Speaker 3 (16:36):
So right now on my eyes, my eye shadow is
my bronzer and my highlighter. Yes, and I do that
all the time. And I might have run out of
eyebrow gel, and I might be just using a really
old schooly and spraying it with my husband's hairspray and
then using that.
Speaker 2 (16:54):
But perfect.
Speaker 3 (16:57):
I'm coming at it absolutely five, like it's not even
good hairspray.
Speaker 4 (17:03):
And my one is if you're a writer or just
enjoy writing or blogging, there's a platform called Medium where
you can actually make money for posting or sharing your
stuff on there. Apparently, if something goes viral or gets
lots of engagement, you can make a good chunk of money.
I have heard of some people making like two thousand
dollars a week and others like fifty dollars a week.
Speaker 3 (17:20):
It's like crazy, somebody tweet see I need articles on
Medium because when I sometimes google like niche topics, it
will come up with a Medium article. They didn't know
that it was like commercialized in that way.
Speaker 2 (17:31):
Like a sub start. Is it kind of the same vibe.
Speaker 4 (17:33):
I know what subsec is, but I have no idea
how it works, but I think it's probably something if
they if you can. I don't know how the creators
get money. Maybe there's like ads on the side of
their blogs or something. But yeah, if you enjoy it,
it's like better to just give it a go anyway,
even if you don't like that. I really want a
substack like I made, like one of my news resolutions
was like create a substack, but I just haven't had
(17:54):
the capacity to do it. And I also just want
to make sure that if I did it, I was
actually like doing it.
Speaker 3 (18:01):
Well, yeah, like allocating the time to actually write stuff
of substance and I just don't have enough time. But
maybe if I'm making money from it, that changes how
much time I allocation.
Speaker 2 (18:12):
So true? Yeah?
Speaker 3 (18:14):
Interesting. Okay, if you've got a money in Aora broke
tip that you want to share with our community, please
join our Facebook group so She's on the Money and
get in on the goss at a ground level. When
we return from the break, we're going to be covering
this week's money dilemma, So don't go away.
Speaker 2 (18:31):
Welcome back, everybody. Let's take a listen to this week's
money dilemma.
Speaker 6 (18:37):
Hi, there, have you got a money dilemma you just
can't solve. The She's on the Money team is here
to help.
Speaker 3 (18:42):
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. Hello.
Speaker 5 (19:01):
I thought someone was a bit interesting and thought you
might enjoy it. I am currently renting with my fiance
and we're looking at purchasing a house, hopefully soon. However,
I currently have an investment property in a different city
that i'm refinancing. It's a small shoe box over sixties
village kind of unit and it has about one hundred
K that's left on it. My fiance has always been
(19:24):
a big saver, and so he offered to pay off
the entirety of the remaining loan. This also means that
the potential house deposit for our own place is a
bit lower. It being paid off means a bit of
less stress for us and potential for a bigger return
on investment. But I'm also the opinion that you know
this isn't necessarily a bad mortgage to have at this point,
(19:49):
but would love your thoughts.
Speaker 2 (19:50):
Love the pod.
Speaker 5 (19:51):
Thanks.
Speaker 3 (19:52):
What would you guys do?
Speaker 4 (19:53):
I would think pay it off? I mean, obviously depends
on how much much interest is on the loan. Am
I maybe on the right track, and so I would
just say paid off because debt is what you just
don't want debt if you can get rid of dead.
(20:14):
I just think that you should definitely paid off, is
what I'm thinking.
Speaker 2 (20:17):
I disagree. I feel like it would all probably come
out in the wash, in the sense of I understand
you're getting married, and I have no context as to
how you're sharing your finances. But like coming at it
from my own lands, everybody knows because I won't shut
the hell up about it. I'm building my own house
or by myself. Cool, the look will be thank you validating.
The look will be one day my partner and I
(20:37):
will buy a house together. Obviously, when you're de facto,
there's all these laws that come into a you know,
play around, like who's entitled to what? Da da da dah. However, yeah,
like there's an argument for that's your pre existing asset,
which is the case for our listener right now. I
don't assuming he hasn't been contributing to the mortgage or
anything thus far. I also think that so you're saying
(20:59):
his thinking is put one hundred K towards this house
instead of putting it towards your next house. To me,
is it potatoes? Potatoes?
Speaker 1 (21:06):
Oh?
Speaker 2 (21:07):
Yeah? Do you know what I mean? Like the one
hundred k off that mortgage means like, yes, you wouldn't
be paying that mortgage down, but it means that your
loan for the next house would potentially be one hundred
thousand dollars higher, and or you could potentially just be
using the equity of that house to borrow anyway. Oh
and I don't know how the math's maths on that,
(21:27):
but to me, I just don't necessarily know that taking
one hundred thousand dollars from Peter to pay Paul or
from you know, the next house to pay for the
old house. I don't actually know if that would make
a difference. I mean maybe if the loans were different,
but then like, do we look at refinancing the existing mortgage.
I'm sure I'm saying a bunch of things that Victori
is about to touch on because obviously she has mortgage
breaking company.
Speaker 3 (21:48):
That's crazy. If I had an opinion away soon to
be broker, oh my god, yes, it's so crazy. So
my immediate thought wasn't asset protection, And maybe it should
have been, because that is also really important, Like if
you're letting him pay off equity on an asset that
he doesn't have his name on, I think it could
(22:10):
get a little bit messy, try to take justice advice,
but my brain went straight to deductible versus non deductible debt,
and paying off deductible tax debt could be inefficient. So
in your investment property, you can claim your debt on
tax because it's an investment. Yeah, but if you had
(22:32):
that in a residential property that you live in, not deductible.
It's non deductible, And like, personally, if I had an
investment property, I wouldn't be paying it off. In fact,
if I had any financial pressures, like I would very
quickly change it to just interest only and keep my
debt longer in an investment property than I would my
(22:54):
primary place of residence. Is that's so, but that's just me,
and you need to talk to your accountant about what
that would be. But I would go to an account
with that and be like, we're in this really privileged position.
We have this amount of money, what's the best use
of this. This is where good financial advice comes in,
because like, a cleaner structure could be keeping the investment
loan in place and putting the hundred thousand dollars into
(23:17):
an offset account, maybe against either of the investment property
loan or more than likely like your future home that
you're going to own together, because an offset can reduce
interest without I guess, permanently paying down the loan. And
this matters because once money is paid directly into the loan,
like later redrawing it for like private you know, reasons
(23:40):
and how whatever you want to do with it, it
can create really messy deductibility issues. Yeah, like it's just
it's a bit messy. And then the ATO focuses honestly
on what the borrowed money is used for, not just
which property secures the loan. So I just think if
the fiance paid off the one hundred thousand dollar. Again
I'm not an accountant, please talk to one. If your
(24:03):
fiance pays one hundred thousand dollars off your loan and
that property is not in their name, then that's not
automatically a tax deduction for your fiance. It might actually
be treated more as a gift or like a relationship contribution,
depending on the documentation that you have.
Speaker 4 (24:19):
Is oil mortgage tax deductible if it's an investment property.
Speaker 3 (24:22):
No, not all of it, but like the cost of
the interest that you pay.
Speaker 2 (24:27):
Oh yeah, and holding that loan would also mean you
can claim Oh would you get to claim it anyway?
You know, if there's repairs and stuff, But that would matter.
Speaker 3 (24:36):
So I guess my advice would be, do not pay
off that investment loan until you have proper tax advice. Okay,
that's my recommendation.
Speaker 2 (24:44):
Good advice.
Speaker 3 (24:45):
Call your accountant and be like, hey, like should I shouldn't?
I because it sounds like really nice, like because immediately
I think your brain goes to being debt free, Oh
my god, amazing. But also you're not going to be
completely debt free. Yes, like one little part of your
debt might be paid off and it feels good, but like,
what's the bigger picture? Look like you could be in
(25:07):
a better financial situation with some smart strategy. True, and
we love smart strategy in this house.
Speaker 2 (25:14):
You all right?
Speaker 3 (25:15):
This week's DM seems to follow a little bit of
a similar theme in that both community members seem to
be doing all the right things and just life has
thrown them in exciting opportunity. So they wrote in are
you ready? Yes, all right, she's on the money. Please help.
That's what we're here for. I am so torn. I
feel like I've spent the last five years doing everything
in quotation marks right. I've lived at home longer than
(25:38):
I wanted to. I skipped holidays, and I've said no
to plenty of dinners and weekends away, and I've put
every spare dollar towards saving for a house deposit. And
I have finally reached my goal. Ah, congratulations, amazing. The
problem is that I have just been offered a two
year role overseas. It's an incredible opportunity in an industry
that is so difficult to break into, and it could
(25:59):
open doors that simply would not be available to me
if I stayed. Some days I think that the house
can wait, because I'll never get these years back, and
experiences like this do not come around often. Other days
I panic that I'll come back to an even more
expensive property market and regret not buying when I had
the chance. My family thinks I am crazy for even
considering putting home ownership on hold after working so hard
(26:21):
to say what should I do?
Speaker 4 (26:22):
Well, First of all, why, I guess maybe if you're
paying for your own.
Speaker 3 (26:28):
Poor can or lost us? Is that where we're going?
Speaker 4 (26:30):
That's what I'm than because I'm like, why did to
put that on hold. I know that it's less cost
effective if you are not living in the house, you're
not occupied, so like something about tax costs more or
something like that, But I don't see why, especially if
you're not living in it, like you can buy something
cheaper that whatever. Whatever, I'll just like rent it out.
(26:51):
I would not, in any reality and not in any world,
not take the opportunity to do this job overseas. And
I am differently personally. I don't like to leave my
comfort place. I like to stay with all my friends.
I personally would leave. But if it's something I was
working toward and the experiences I would gain, like absolutely,
without a doubt, I would do that and just try
(27:12):
and find a way to still get into the market.
Speaker 2 (27:14):
That's good advice.
Speaker 3 (27:16):
I'm so glad that Beck's not leaving.
Speaker 2 (27:17):
Yeah, I don't. I'm assuming that she would need to
take some of the money from her house deposit fund
the overseas move would be my guest.
Speaker 3 (27:25):
That's what I was thinking, And I was like, Oh,
is that what's happening or are you just like I
don't want to buy because like I'm moving overseas.
Speaker 2 (27:33):
In which case, if that's the feeling, I stand with
what Beck said on the assumption that you would have
to spend a chunk of your money to get yourself
set up overseas, I agree with Beck. I think that
it's an opportunity. The way you've written to us about it,
you can feel your excitement, like I can tell that
you want to do this, and I think it's the
(27:53):
kind of thing you probably would regret if you didn't.
As someone who has just god, I'm insufferable, someone who's.
Speaker 3 (28:00):
Been yes, I cannot tell you how happy I get
every time you talk about buying a house. I have
been talking to you about this almost every day for
six years. You have worked, she's on the money for
six years, and the entire community has been hearing about
this journey of you saving for a first house, thinking
(28:21):
about a first house, not buying a first house. We
are so damn happy you tell us every day that
you bought a house. Sorry, on her own, bought her
own house. Incredible, doesn't need a man, Okay, I mean
still has one. Doesn't need him though, incredible Sorry times,
but that's still play.
Speaker 2 (28:40):
But like I like, I have that feeling now. I
wish i'd bought five years ago, but I was in
the position to do so, you know, five years ago,
I wish I'd bought a house five years before that. Like,
I think that feeling is always going to exist no
matter what you do, and I don't think you should
let that hold you back from doing something that you
seem so passionately about. The housing market will always be there.
(29:02):
You could explore other investment options, you know, the share
market is are great, you know, depending on your appetite,
et cetera. But I think that you don't want to
live your life with regret. And I think you're saying
to us that this is like a once in a
lifetime opportunity where buying a house isn't. Like, yes, you
might pay more in a few years, but if you
never get the chance to work overseas again in this
(29:24):
particular field, that seems like a bigger opportunity cost to me.
Speaker 3 (29:28):
Yeah, I was reflecting on something similar. So one of
my girlfriends lives overseas and Rosie, we've spoken about her
on the show literally this episode, and I just was like,
how cool is that? Like she moved to London, she's
lived in Canada, like she's done a whole heap of
really cool things. And I don't know. I think that
at three am when you're up feeding a three month old,
(29:50):
like you just think and have too many thoughts. And
I was thinking about and by the way, when I
say three months old, six months old, isn't that terrifying?
Speaker 2 (30:02):
Whoah, oh that's crazy.
Speaker 3 (30:03):
I was like, oh my god, I've missed that boat
for me. Like I'm not mad, I'm really like, I'm
really grateful for the position I am in in life,
but like I can't upper move to London. I can't
upper move to New York. I could have when I
was twenty and I wasn't way down, but like life
is so different now, and I'm not mad. I adore it,
but I just go, twenty year old me should have
(30:25):
done something like that. She should have gone and lived overseas,
and like that would have been really cool. So I
get not only you going, I can see myself regretting it,
but I go. I think I regret it a little bit.
And I wish that I'd been more opportunistic in saying
that I was a little bit naive and angsty in
my early twenties. I don't think I would have just
(30:47):
purely because I would have been too scared, then that's fine,
But like, hindsight's a beautiful thing. But I think you
should come and talk to us at Zella Money. I
think you should come in and have a chat with
one of our brokers and be like, this is my
sitty situation. What would it look like to buy a house?
What would it look like to have an investment property
while I'm overseas? What would it look like to buy
(31:08):
when I got back after two years? What would it
look like if I didn't come back after two years
and work all of that out? Because if you've been
saving and you've been planning, great, we can still achieve it.
But like, let's just like maybe make a few different plans.
So instead of hypotheticals, we've got a few different plans
on the table, and you know what each option kind
of looks like, so that you can make the best
(31:29):
decision for you. Is what I would say.
Speaker 2 (31:30):
But what did everybody else think?
Speaker 3 (31:31):
Okay, So the first question I asked the community was
if you were in this position, would you prioritize experience
over property? Ninety three percent of you said yep, experience
is just as important. We then asked would your answer
change if the property market continued to rise while you
were away. Twenty five percent of you you said yeah,
I changed my answer, but seventy five percent said no.
Speaker 2 (31:51):
Incredible.
Speaker 3 (31:52):
Then we asked, should family opinions factor into a decision
like this? No, Well good because seventy nine percent of
you said no. I then said, guys, what is your
two cents? And this is my favorite question ever. First
person said, buy a property rented out for the duration
of time that you have overseas?
Speaker 2 (32:11):
Incredible?
Speaker 3 (32:12):
Can you buy and rent out while overseas? Can you
purchase a property and have a tenant move in? Would
you consider an investment property you could move into it
when you come back. You guys all have wooden brains.
Cell It's like Jess and I like we like have
the same thing to say, but in just a round
about way. Often another person said life is for living
(32:35):
and tomorrow isn't promised to take opportunities when they land
on your doorstep.
Speaker 2 (32:39):
Agree, that's very beautiful.
Speaker 3 (32:40):
I genuinely have never laughed so hard at like a
response like a comment section, because they are literally all,
why don't you buy a property and rent it out?
You not like scrolling through this, Go do the job.
The house can wait. You could also buy one before
you leave, Like we all are on the same page.
(33:01):
I get it, But overwhelmingly the community is like, please
just take an opportunity. You can always change your mind.
And I think that that is, you know, the story
and the narrative and the thing we'll leave on because
there wasn't actually in this response a lot of diversity
of opinion.
Speaker 2 (33:18):
And I feel like that says a lot as well,
doesn't it.
Speaker 3 (33:21):
I just thought it was so funny, like doing those comments,
I'm like, oh, okay, so we are just all queens
on the same page.
Speaker 2 (33:28):
Please keep us posted as well.
Speaker 3 (33:29):
Really exactly, and like we adore hearing that our community
was on track to achieving their money goals. And I
guess things like relationships and job opportunities are presenting, you know,
really exciting side quests for you guys. And how cute
is it? Guys they want our opinion. I don't know
what they should do with their life. Sweet that's crazy
(33:49):
to me. All right, lovely listeners, it is time for
us to go home, because that is all we have
time for today. Whether you are listening on your hot
girl walk or you're in the car, or you're simply
for tending to work at your desk. We appreciate you,
thank you so much for being a part of this community,
and we get to see you on Monday for a
brand new money diary. Have the best weekend, by guys.
Speaker 2 (34:10):
Bye.
Speaker 6 (34:15):
The advice shared on She's on the Money is general
in nature and does not consider your individual circumstances. She's
on the Money exists purely for educational purposes and should
not be relied upon to make an investment or financial decision.
If you do choose to buy a financial product, read
the PDS TMD and obtain appropriate financial.
Speaker 3 (34:34):
Advice tailored towards your needs.
Speaker 6 (34:36):
Victoria Divine and She's on the Money are authorized representatives
of Money. Sheirper Pty Ltd ABN three two one six
four nine two seven seven zero eight AFSL four five
one two eight nine
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