Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
the Order Kerni Whoalbury 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 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.
Let's get into it. She's on the Money, She's on the Money. Hello, and welcome to She's on the Money, the podcast for millennials who want financial freedom. Today is Friday, which means it is time to get the team together and celebrate you our incredible She's on the Money community. And before we get there, we're just letting you know one, welcome to twenty twenty three whew. But two, we're shaking up the format of our Friday episodes to make them
more engaging and wait wait, more juicier. So today, not only will we be sharing our favorite money wins, which just does as always we were never going to cut that part out. We'll be helping to answer a juicy money question, which this week is all about superannuation, but we are also going to unpack a spicy money dilemma one of our community members has had recently about sharing money and sharing an emergency fund with her partner. So we'll get to.
All of that.
But before we get there, miss jessic RICI, welcome back. I'm so excited that we're here doing more pods.
Oh my gosh, happy news here everybody.
My gosh, she knew.
Who's that?
Who's that?
Who were we you?
Oh?
Sorry, I just I snuck in here.
My name is Beck, sired and I believe I am joining your team this year.
I don't know. She made it obvious before. She hasn't signed anything, and I was like, oh, it's probably good for both of us, sir, so not bad, not bad.
But this is a decider this episode right here.
Yeah. If Jess doesn't agree, we'll have to talk after the show. So perform. Well, Beck, welcome to the show.
Thank you so much. It's really nice to be here with you both.
Oh my gosh. Beck. Obviously the community knows Jess because Jess is our dy money queen. Also, they know me, but they don't know you. Can you do like a little introduction, like we're going around in circles and you're put on the spot and have to be like, oh, hi, my name's Beck, and these are my hobbies and these are my interests and this is what I do for work, Like ready, set.
Go, okay, wow, pressures on.
This is the you know when you start like a new job or something and they ask you these Just honest, I'm not prepared and I but I was going to say that I really really hate these kind of questions.
That's why we're asking you, not vice versa. That's why volunteer Jess or I to answer first. I'm going to do a surprise one on both of you. Are okay, but no, just kidding.
I won't.
But my name's Beck.
Of course, as you guys know, and hopefully everyone listening now knows, I've worked.
With you guys, but behind the scenes about.
It about a year I could say, Yeah, we were like Beck has big Beck energy, we need be on the pod.
B B B just kind of crept up on me and I'm really really stoked about it.
Oh, I'm so excited that you love these.
I'm so excited.
I've done a little bit basically, you know, to give everyone context, I've not done anything in the radio world before, but I've worked basically, I've worked in radio, just not kind of behind the mic, and I've recorded demos with you guys before and all this kind of stuff, So I guess it kind of it makes sense on paper that you get to go here, that I'm here now, Well, it's just because you're nice, Like you weren't picked because you worked in radio. No, I mean when we met
because you worked in radio. But then we're like, that's SOMEVB.
That's BBA. Come on the pod.
What about your money knowledge? Are you a financial advisor? You mortgage broker? Did you go do maths at university?
Like?
Where are we at?
Oh no, I don't think you're gonna like this, But I have no idea what I'm doing financially right now. I have minus seventeen dollars in my bank account and I have previously been bankrupt, so I guess I'm starting from scratch.
I love this. When Jess joined that she's on the money team, she was doing very well on her own, so I'm not saying that the circumstances are the same, but I feel like Jess joined him Like Victoria, I don't know about being on the podcast. I have no idea, And now I basically am redundant on a lot of the podcast because Jess could run it for me because
she's basically smarter than me. Now done, I would because sometimes just would be like, oh, hey, they just want to run this past you because we're doing something for work, and I'll be like, yeah, that's actually much better than what I could have produced, So I'll just see myself
at Wow. I have high hopes. But also I'm so so excited to have you on the team, not only because I know the community is going to love you, not only because you don't have a lot of financial knowledge yet, but because I'm just putting myself in the
control seat here. I get to be on this journey with you, or we all get to be on this journey with you of educating you and getting your budget up to scratch and like talking about investing and savings and Beck we just recorded in an episode that's going to drop next week about lipstick index and recession. And I think the thing that I loved about your involvement in that episode. Was you just being like 'so recession?
Like I just I don't know where I'm at And as much as a lot of our shees on the money community has been with us for three years and would go, oh, I know what that is. Our community is always growing and always evolving and there are going to be so many people that are exactly in the same position as you that maybe reset a goal for twenty twenty three to absorb more money. Content would have
been thinking that. So I feel like your job, my friend big Boots, to feel you're the voice of the community. Ah okay, I hope that you do them justice.
I hope so.
But I know you will because I'm so excited to have you on the team, and I know Jesse's as well. Yes, but Jess g Ricci is your time to shine. We were speaking about the community and Jess spends a lot of time in the community and solving all their money wins and confessions and chatting to them basically every single day. So, Jess, I want a quick whip around, what are your favorite money wins and confessions that you've dragged out of our community from this week?
All right, first one comes from our friend Lindsey, and I feel like this is a very timely reminder. At the start of the yar, she says, I finally bit the bullet and reviewed my insurance with the staff discounts I get moving my insurance to where I work. I've saved almost one hundred and sixty dollars a month across our two cars and contents insurance. Is that time of year everyone's renewing, They're coming around. They've probably jacked the
prices up. They always do, they always do. Yeah, I was about to say, isn't that what happened to you? And you called them and you just got a discount immediately exactly. And if you need help, there's a script on our website if you're a little don't like being on the phone, can relate, read it word for word and hopefully they'll knock it back down for you.
I was talking about this on TikTok the other day because someone said as like a question on one of my videos, like, oh, well, how do I deal with this? And I think a lot of the time the responses are, oh, just like have big dog energy and just tell them no, Like if you've got to like negotiate something or change something.
I'm not like that, like, yeah, exactly. If I have a big conversation to have, or a conversation that I believe is going to be big for me, I actually want a little bit of like a script to follow, like if I'm asking for a discount for my insurance or something, I don't just want to go into it completely blind and go, oh, well, I just called an
asked for a discount, Like I'm not that girl. I need the script to be like, hey, I just want to chat about this, like I do know it can be really simple, but just having that in front of you while you make the call can make you feel so much more empowered, which is why we wrote it, jess And it just puts you back in the control seat.
So don't feel bad if you don't have the big dog energy that everybody else on TikTok seems to have where they just negotiate off the bat like not everyone is like that, no at all, And definitely check to see if your premiums went up. Kids next win comes from Jessica great Name, who said I just applied for the new South Wales Creative Kids and Active Kids vouchers.
Now I have another child enrolled in school. It's one hundred dollars voucher that you each get, so four hundred dollars in total for two kids that can go towards dance fees. Dances expensive, So that's a massive win. What I didn't even know that existed. Do you know if there's something like in Victoria or in other states that is similar.
I don't know off the top of my head, but I would say to people definitely check your local government website because I know that there were things like this when I was a kid. They're trying to encourage active living and you know, kids getting out and doing fun things, which can be super expensive. So have a look at your local state website. And if you're in New South Wales, I would be applying that is.
If you've got kids getting on that that sounds a lot like free money to me, and I love.
Free love, free money.
All next win comes from Lazar, who said I made a resolution to put twenty four hours between my non essential purchases, put two outfits in my basket, waited until the next day, and was rewarded with a twenty percent off sale money.
When I feel like that often happens. The other thing that I think happens sometimes is like retail is quite smart, right, so they can see that you put those things in your bas yes, right, and then they're like, oh my gosh, like Beck didn't check out. I wonder what it was. Maybe we need to send you a little carrot to get her to check out. And then they send you like ten or twenty percent off because they're like, oh,
did you forget your basket? His little carrot to get you to go through with the sale works every time, exactly. So definitely, leaving twenty four hours between you and making an online purchase not bad. Double that up with your shop back, and we're just basically now making money.
Yeah, exactly.
Next one I have for you comes from Rhiannon, who says, I made my husband call out bank to see if they could do better with our interest rate on our mortgage and they got it down over one percent. Thank you Kate from Zeala money for the tip.
Oh was that actually? Oh? I love that. That's Kate from our team. And do you know what getting your mortgage down one percent in this current economic environment, that's big dog.
Energy, Big dog energy.
I feel like I need to stop s big dog energy, but like, that's the energy I chose to take into twenty twenty three.
I mean, else, who do you explain it?
B b E b B BECK energy, Like that's what we want to embrace.
Well, my very last win for this week definitely embraces the bd bb E energy. It comes from Peter And she said, my first year debt free since domestic violence. I have over two hundred dollars a week in my pocket now, And I just wanted to say, Peter, I'm so proud and so excited for you. That is freaking incredible, amazing, What a good way to start the r p B E for sure, Oh my gosh, I love that.
That is actually such a wholesome way to end the community money wins. As always, I have loved hearing them, and I think in addition to bb we're going to add WWJD. And like I think a lot of people are like, oh, what would Jesus do?
No, no enough, what would just would just do?
And I feel like that's a good way to live your life. In twenty twenty three, I ask myself that every single time I'm going to get a bracelets made like everybody is really on top of this. All right, let's go to a quick break and after the break, we're going to be answering your juicy money question about stuperrenuation, and we're also going to be talking about hiding your savings from your partner. Don't go anywhere.
Welcome back to our shining New Friday with our shining new team member. I hope you guys are enjoying bb BB for sure.
I'm loving this.
On me.
I love this guys.
I think we have a really fun money dilemma to answer today. Should we take a listen?
Yes?
Please go.
Hi there. Have you got a money dilemma you just can't solve? The She's on the Money team is here to help. Every week we tackle your dilemmas, both big and small, to answer your most burning money, career and life questions. To get involved, simply head to our website and leave us a short voice recording and you might just find yourself on the show. Now, let's take a listen to this week's money dilemma.
Hey you v and happy near to the She's on the Money fanbam.
I love you guys.
This is the most amazing community.
My name's loan.
I recently scored a great opportunity at my work, which equals to more money and some commission. I'm super excited, but it got me thinking. Up until now, all of my super has been going into a retail worker like specific super fun. But now I'm not working in retail anymore. I'm making more money. I'm wondering if this is the best option for me. So my money dilemma is where do I go to find good super advice because I'm super confused. Is this something a financial adviser would be
able to help me with? Or where do I go? Thank you so much for helping me out.
They loved the little pun she slipped on a mess. I love that.
She was like, I love you guys. I'm like, I love you do Lauren? I really sweet? Also, how good is it she got a new job and now she gets commissions. I have so much to say about budgeting and like living on your base salary and then using your commissions to save and invest and create financial freedom. But that wasn't actually what the question was about, yess So, Jess, as I said before, Beck, basically a finance wizard. Where would you start, jess Oh.
I feel like, she's definitely right in the looking at the different super options out there is a way to start, because I was the same I started in retail. I remember when you reviewed my super V you were like, oh, who are you with? And I was like blah blah blah, and you were like and I was like what, And You're like, they're not good?
But also they weren't good. It's not to say that all fun but I think.
A lot of the time potentially they're just kind of going one size fits all, right, And you have thousands, arguably of employees working across the country for a retail company. If you're picking one super fun for all of them, very good chance that it's not going to work for everyone. So I guess the place to type would be the Google.
The Google. Yeah, start Google seems like a good before I respect, What would you do? What do you do about your super funny?
You ask V because I actually used to work in super You did not disclose that in your interview.
I know when we said earlier on the podcast, like, oh, what do you ring to the table you financial advisorge, You're like, nah, I was broke, and we were like, oh, okay, no worries. Thanks for sharing. Now, Now, Jess, she's like, oh, yeah, actually I used to work in super anyway.
Financial advisor. No, I was scared I would be too qualified for this position. Oh I didn't mention it, but no, I used to work in super and I kind of realized, I don't know if everyone else has this as well, but i'd like seven different super accounts that really common, really and so like I really didn't know who to go for. But yeah, I just googled it and it was like, you know, you know, you get the I don't know what's it can Star or something. Yeah, yeah,
I just like went to the number one. I didn't even check anything. I just thought, that's the number one super company. I'm going to go with that one.
And so that essays don't do that.
That is actually exactly what we're not going to do. So we're not going to do that. And I'll give you a reason why because I think in your situation, and that makes so much sense, right because cancer that's reputable.
Right.
They give other companies like awards and stuff for being the best super company, and I would think that that's really good. The thing you want to be aware of and I'm not saying that can Star is bad. Finder is the same, though. The thing that I would want you to know about that is they are actually basically an advertising company. So obviously they do lots of other things, but superannuation companies pay them to appear on the tops of their charts or be in their articles or yeah exactly.
So from my perspective, yeah, there might be a fine super company because legitimate super companies they do advertise to get more clients like you, Beck. But what you probably didn't realize is that that quote best super company came up because they were very likely paying for that ad space, and that's what got you. That doesn't necessarily mean that you're in the best position. So I would also go
back to what Jess said and use the Google. But what I would be using when it comes to the Google is I would google ATO your super comparison And the reason I would google that is because the ATO last year, the start of twenty twenty two, released your super Comparison tool, and that takes all of the work out of it in terms of is this advertised, is this a paid partnership? You know? All of that stuff
is really hard to see through. This is actually a government run website that is going to just enable you to compare apples with apples. When you compare on a platform like Cansterer or Finder, you're not usually comparing apples with apples. You're comparing the features and benefits that company wants to showcase with the features and benefits of a maybe less superior company. That you go, ah, well, you're right, that one is much better, and you feel good about
your decision. But it's actually just advertising. So the ATO website has it. It is free. And the thing I would do before that, though, is because you mentioned, oh, I'm in a retail super fund, that doesn't necessarily mean that that retail super fund is bad like you might be with like host plus or rest or something like that,
and they are legitimate super companies. The first thing I would actually do is log into my mygove portal and actually have a look at what super funds I have, because, just like you, Beck, you might have seven accounts that you didn't know about. Because if you jump around from casual employment to casual employment, especially when you're a bit younger,
often you starting a super fund. Yeah, tick the box, you know what I can't One time I ended up with a new superfund because I literally couldn't be bothered going and finding my old super fund the information. Yeah right, I could.
What does it matter.
It doesn't matter. I don't have any money like that was the mentality that I had. And that's not okay, we don't do that. That is not BB scrapping it. That is not what Jess would do these days. So we are going to compare it. If you have a number of super funds, I would be having a look at all of them, making sure that there aren't any important insurances in them, because if you are leaving a superannuation fund that has default insurances, that can actually be
a negative thing. And it's a negative thing because sometimes our default insurances are actually really powerful. I'm going to use Jess as an example here because Jess, you are very active, way more active than I would ever be. You play frisbee, right, So say you've got a default insurance inside superannuation, but you did your ACL playing fuz be really common.
Actually yeah that like I know like six different people who have done it.
Oh ill, But say you did your ACL like one of your friends, and you went to another insurer and you were like okay, cool, Like, hey, brand new super fund, I need some insurance. I now need to apply because default insurance isn't that common these days, but it was ten years ago when you got that super fund. I want to apply and they go, no worries, Jess, what previous health conditions if you had and you're like, oh,
I'm really healthy. I just did an ACL one time, They're like, okay, cool, no worries, Jess, We're just not going to cover you for your ACL. So that means that if ever you have to take time off work or go through an incident, if it's ever related to your ACL, they will not give you an insurance payout. And that can actually be really negative. And that's why default insurance could be really good, especially in the example of Jess, where you might go, oh, I've done my ACL.
Maybe I'll have a look at the other insurances see if I can change without any you know, negative impact. But if I can't, maybe I keep that insurance to make sure. You know, if I do the other ACL, or I do something that's related to that part of my body, I'm not upshit Creek without a battle. Does that make sense? Yeah, So you need to take that into consideration. And the next thing I do is I actually step back and go what are my values? What
are my thoughts? What do I actually want to achieve? Here? Like superannuation these days is so customizable, Like you could go and investing a superfund that only has crude oil. Not that sexy if you're in cheese on the money because you probably have similar aligned values to us. But have a think about what type of asset classes? Do you want an ethical fund that's completely possible, do you want you know, really well diversified asset classes. Do you
want access to bonds? Do you actually want to have more say or do you just want a really good cookie cut of fund that's going to work for you in this moment for your risk profile and your age and what you earn. So you really need to think about that. And then that's when I go to your super comparison tool and start looking, well, where are your funds that you're already in performing, because maybe it's a good fund for you, but the thing you need to
change is your risk profile on that fund. So maybe instead of being imbalanced, you've done your risk profile and you're actually a high growth investor, so you might stay with that fund, but just change your profile, in which case that's a good outcome too, and you've reviewed your super properly, or you might go, oh, that fund is
not good. In fact, I've been ignoring those letters that they're fincening me saying they're closing because they're that bad and you need to find a new one, in which case we're not just finding a new super fund, we're also looking at our risk profile and going if I'm moving to, for example, Australian super which one of their seven risk profiles am I going to fall into? You need to actually spend the time looking at that because
they all perform differently. A balanced super fund is going to have a very different performance to a conservative super fund and a high growth super fund. So there's a lot to take into consideration. Just because you were in a retail fund doesn't mean you shouldn't stay there. But what we're going to do is our research, and if we're going to do our research, we're not going to be swayed by advertising. Does that wrap it up, Jess?
I think so.
I think I know what Beck's going to do tonight.
Yeah, from her face, that's not what she's going to do.
Tonight, I'm going to have been seven super funds.
Yeah, I really want to get into the spicy stuff because we said we're making the episode even more community centric this year, which I am pumped for, and that means we want to kind of bring some of the conversations that we're having in our dms to life on the pod for people to kind of weigh in because they mean more better, right, No, more opinions.
Is more better?
Yeah?
Yehote just Gricci twenty twenty.
Three put that on a mug and drink out of it. But this week we have a really interesting dilemma. Do you want me to read it out so everyone.
Com we're talking about. Course, we obviously screenshot it and put it on our stories obviously deidentified, so we could get your opinions as well. But Beck, you haven't heard this yet, so jess what have we got?
All right? Our community member says, HEYV I have a little bit of a sticky situation. My partner and I have a joint account and share majority of our finances. Lately, I've started to feel a bit guilty because my boyfriend' said something to me about not having any other savings outside of our joint savings. Of course I have an emergency fund, and while I haven't necessarily been hiding it, I also haven't been forthcoming and mentioned it to him.
I have just under fifteen K in my personal emergency fund. Do you think I should be sharing this with him? Or should I be keeping it for a rainy day? Advice? Appreciate it?
What do you reckon she means when she says sharing it with him? Does she mean like sharing the money or sharing the fact she has it?
I think reading that, I'm reading it as she hasn't told him that she has that money stashed away, so he doesn't know it exists. That's how I'm interpreting the message anyway.
So it's a tricky, oh splicy, But also I think that's great. Like I mean, if she's feeling like it's a little bit deceptive, I think maybe just in PARSI being like, oh, yeah, like I do have an emergency fund, and then maybe suggesting that he gets one as well, because it's really important to have individual financial freedom, regardless of whether you have shared finances. Maybe that's how I
deal with it. If an emergency fund is so ingrained in the way that you've been doing budget and cash flow, then you know, maybe it just didn't come up because it actually wasn't a joint asset. It wasn't a part of the joint decision making. Like you know, if you're saving for a house, like you're not going to use your emergency fund to go towards the house. So maybe it's not a valid conversation to have and that's why it didn't come up. I don't think she's being sneaky.
No, no, I don't know.
I think if she has any reservations, if she's a little bit stressed, or she wants that there for whatever reason she feels like just in case it goes bad or whatever, and she kind of wants to keep it a secret, keep.
It a secret. I don't think that's sneaky at all.
I don't think that's bad.
I don't think that's bad.
If you had fifteen grand in a savings account that was like away for a rainy day, would you tell a future partner about it?
If I had fifteen k saved and a long term partner, I wouldn't feel obliged to tell them because I don't think it's absolutely necessary essential to tell your partner because it is it really is your money? We can keep things separate, you know what I mean. I don't think that she needs to say anything. I don't think it's sneaky. I think it's actually very clever and it's very safe, and I'll probably keep it that way to be honest,
just in case you just don't know. Yeah, you never know what's going to happen, Jess, what would you do?
I think, like, I'm very pro sharing that you have it. I'm also very pro keeping it entirely individual. As you said, I think everybody should have access to money that only they can touch, and I think she should keep it that way. I guess to kind of play Devil's advocate. If you're in a partnership and you are planning your finances, and she said that she's sharing a lot of finances with her partner, I guess when you're doing, say your budget for the art, if you're saving for a house.
If we're using that example, you would kind of be going, okay, well, where are you contributing your money? In my mind, to be able to set that up properly, you kind of have to go okay, well, I Jess, trying to put fifteen thousand in an emergency fund. My partner, you've already got fifteen thousand, so you don't need to be allocating any more money there. You potentially can be contributing more
to the house fund. Yes, I feel like knowing what's going on with each other enables you to get a better picture of how you can best reach your shared goals, because they do have those. As I said, I don't think he should have access to it by any structure of the imagination. But I also think that if this is your long term partner, I would be questioning why don't you want to share that with him? Is it
because you don't trust him or her? Is it because you're feeling anxious because of something that you've seen that's a part of your money story. Is that something you need to work through? Because I don't think fundamentally there is anything wrong with telling them that that's there. Are you worried that they're going to feel entitled to that money? If so, is that a bit of a red flag I do we need to be.
So?
I think it's a bit bigger than should you should you not tell them? It's why do you feel like you should or shouldn't tell them.
Yeah, it's a good point.
We put it out to our community earlier this week to say, well, what would you guys say, and we did actually have a few people say red flag. I think that that's definitely a red flag. But I also wasn't sure if it's a red flag that you're hiding it or it's a red flag, do you know what I mean? I think, in my circumstance, you should probably
be encouraging your partner to actually get one. And Jess, your example before was really good where you're like, oh, well, if they already have their emergency fund, maybe they contribute in a different way. But should they have dipped into their emergency fund for something, then maybe the budget changes a bit for them to top that back up until
we're back on track. But I do think your partner, actually the conversation's probably more around like, oh, hey, well I have an emergency fund, and I actually assumed you had one, and you probably should be working towards it. Jess, what was some call outs that you saw the community have.
I liked what one person said, which was, my emergency fund isn't hidden, but my partner knows that he has no claim to it, and that that money is solely for my discretion, which I think shows that they've said really clear boundaries. You know, they've gone, yes, I have it, Yes you can know about it, but that's not for you, that's mine. And so you need to have your own emergency fund for your own emergencies.
Yeah, I agree.
Someone else said, I don't think it's healthy in a healthy relationship to have separate money, and I think that that's a hot take.
Yet that is strong hot take.
And as somebody who I think I'm in a healthy relationship, just I think you're in a healthy relationship. Both of us have our own emergency funds that our partners can't touch,
and I feel like that actually keeps it healthy. And yes, you know, looking at this circumstance, you know you might be a little bit apprehensive to tell your partner, but like should he not be supportive of you being financially free, Like should you not be like supporting each other in that, Like shouldn't you be wanting your partner to also have that. Steve knows about my emergency fund. He knows it exists
because we've talked about it before. But you know what, now thinking about it, I don't think he knows how much is in it. Yeah, he just knows I've got it because I've always had it, well not always, but I've always had it in the relationship that we've been in. So he's kind of like, Yep, she has that, And do you know what. I couldn't tell you what's in his but I know he's got a fund that I can't touch.
And does that give you a bit of comfort knowing that?
I think it's important.
Yeah, I feel it is.
You need to know that if anything happens in the relationship that both of you, yeah, are going to be okay.
Yeah, absolutely, not just you, not just them.
Interestingly, someone else said not everything needs to be shared when it comes to money, and I was like, oh, that's another hot take.
That's a good point. And I mean, you know, I always use my relationship as an example because I don't want to say that there's a right and wrong thing. It's just how Steve and I've fallen out to do it. We do share our finances, I say, we share everything, but also it's really controlled, so like we don't just
have our pay automatically put into the one account. So you know, if she'd hit the fan we wouldn't be okay, Like every single month he goes in and transfers his pay to the shared account, So if something happened, he could just stop doing that and it wouldn't go into our shared Does that make sense? Like yeah, and vice versa. Like I obviously am my own business owner and I don't have a PAYG salary, but like I pay myself and I transfer the money into the account on a
monthly basis, so that we have joint funds. I think at any point both of us have our own control over our incomes and where that might be going. So if something happened, that would be okay. Just in your relationship, you have shared money, but you definitely do it differently to me.
Yeah, we don't actually have a joint account. It's something that I have been saying for eightes. Oh, we need to set one up just for like groceries and stuff. We just haven't gotten around to it. Like we split most of our shared expenses fifty to fifty and annoyingly right now, like I'll just be like, you owe me two hundred dollars for transfer it us. So definitely not the best.
It would just be easier to have an account.
Exactly right, But yeah, I think that like for us, that's what works, and it is such a personal thing, like if you want to keep it totally separate, keep it totally separate, but it Yeah, I think it's a bigger question about where do you see the relationship going. How comfortable are you talking? And if you're not company talking, maybe that's a conversation to be had. So this one says you don't have to tell him how much is there? Maybe just tell him you how of emergency cash money?
I feel like that's a happy medium, right, That is a happy medium.
I really like that.
Yeah, no, I like that, But I also think it plays into like how your partner responds, Like not everything should be a test, but I do think it would be interesting to see how your partner responds to finding out that you have an emergency fund and going, oh, yeah, like I've got some cash stashed away for a rainy day if anything should happen. I think you need to
have it. I think it would be supportive if they turn around and said, oh great, no worries, like that's fine, but like a massive red flag if they're like, how much, why isn't it in our savings. What's going on? How does that work?
Why do you need it?
Why do you need that? Why do you think that? You know, why do you think you need a rainy day fund? Like, I think that could be a really big friend flag.
That's a good way.
Not a test. It's not a test.
That's a good.
Way to gauge, it's a gage.
I imagine if that happened in your relationship, where you partner found out you had an emergency fund and they're like, why why do you need that? You're like, this is why, exactly why? Oh my gosh. I feel like these answers having pretty spicy, a lot of people saying, you know, there's nothing wrong with having it, let's just be open and honest, all the way through to people being like red flag, red flag, and then people saying, no, keep it hidden, don't tell your partner. I don't know. I
think it's just whatever you feel comfortable with. But I think the general consensus at this table while recording is it is important to have access to your own funds, regardless of whether you save money or not. Could we say that that's the summary of this conversation Jess and Beck, Yes, I believe so.
That was so fun. I really enjoyed hearing everybody's hot takes. Keep an eye out on our Instagram if you don't follow us, We're at Cheese on the Money a US because we're going to be doing more of these. I feel like it's really fun to bring these daties to lie, but.
I also want to know the community's opinion on what's going on and how it works. I mean, it's a judgment free zone. Everybody is going to manage money in a different way. But it's so interesting to go like, oh, Jess, like you don't even have your bank account set up yet,
and I'm just assuming it's because you've been lazy. Yeah, yeah, correct, all the way through to like, oh, we actually share absolutely everything because we've had this question before on the pod where people are like, oh, like having listened to the pod and only just starting my financial literacy journey and I've been married for twenty years, Like how do I tell my partner I want an emergency fund because
they could take it the wrong way. I think seeing from the community what your thoughts and feelings are is going to help validate a lot. But also, who doesn't love a perview question about somebody else's relationship.
God, I love it.
I love it so good.
Great first episode, Beck, thank you, that was so much fun.
Yeah, that we love it.
But I reckon, it's about time we get out all out of here, ladies.
Is it time for a little bit of rage?
Oh god, it's about time.
T G.
I F M A right, you know what?
No, no, no, no, no, no no no. Beck told me earlier today that sometimes she goes to the pub and just order soda water, So like, is that lame?
Yeah?
Like, I mean it's very budget friendly. But like Jess and I were having an approall, if you would like to join us for that, you are more than welcome.
Okay, ten out of ten give me ten.
See you next week, guys, have you good weekend.
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