Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
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 the Money, the podcast for millennials who want financial freedom.
My friends, today is Friday, which means it is.
Time to get my little team together and celebrate you ow incredible.
She's on the Money community.
Today, Miss beck Sayed is going to be sharing her broke tips. Mister Scricci has pulled out a whole heap of her favorite money wins from the community to share. We're going to be helping to answer a juicy money dilemma, which this week is all about buying property from an inheritance in a relationship, and we're going to be unpacking.
Something juicy that you slid into our DMS about this.
Week, we're talking about covering costs when travel with friends changes. Beck, I feel like you're gonna have a few comments on this one. So I can't wait because I feel like you've traveled a lot, but you also have had like lots of things change, and like anyway, I can't wait to get to it. But before we get there, how about our weeks my friends? Good, welcome home, Thank you for having me. Very excited to have you back. I'm really glad to be back. But don't get me wrong.
The biggest privilege to be able to travel, especially with a baby, a lot of hard work, Like, don't get me wrong, Like it wasn't easy, but I don't regret it. Like if anyone's thinking about traveling and they have it in their budget to be able to travel with a young baby, do it like you're gonna have to parent whether you're here or whether you're there, like and so true. I'm telling you right now, it was a lot easier getting up in the morning, being like I haven't slept, but I'm in Rome.
Yeah, if you're going to be overtime, might as well be overtight.
Some we're fun and pretty yeah, exactly right, where the apparols are easier to obtain. And I mean it's rude not to drink caparole if you're overseas it's illegal. I think, oh yeah, I'm pretty sure it is illegal. But enough about me.
Jess has had a good week. Beck, how's your week been. It's been really good. We both we miss each other for like six weeks. As I was Japan, it was like, low key rude. How was Japan? It was incredible? I saw the photos, so I know it was incredible.
It was incredible, And I didn't like contra prariy to what I probably portray. I am not like I'm not huge on travel. I don't like walking around with like dirty clothes, and I don't like transiting every two days. I don't enjoy it. But Japan, I am so excited to go back.
It was the seat.
I just said the same thing you said that, oh, Japan wasn't really like something that was super on my radar, and then you went You're like, I'm going back, Like that is the best holiday I've been on I'm yet to go, and you guys are making me go.
Maybe that's my next location.
Yeah, you really really need to, really like, I'm never craving a travel I'm never craving a holiday even but there's something about Japan.
I just cannot wait to go back. I love that. Yeah, it was really really cool, good trip to Japan.
Yeah, and I know that a lot of people have been following your employment journey back.
Oh yeah, we.
Have been rooting for you, and I think everyone was like, oh my god, she got made redundant.
What is she going to do. We're talking about budgets for the last couple of weeks before I left. If you got any interesting news on that front, No.
Let's move on kidding. I do have a new job officially as of July.
First. Finally, I'm so excited. Thank you so much.
I honestly like and it's in the same building, it's in the same company. So you got made redundant and then the other side picked you up.
I love that. Yeah, I mean so that just tells everybody that she's really good at what she does. That's so nice. Thank you so much.
Honestly, I could have cried when they told me because I was like, it's over.
Like, I guess that's how lots of people who have been made redundant feel like Jesse, You've spoken on the show before about being made redundant, and you're just like, I feel like I'm in limbo. It's like, yeah, well, I'm really glad, and I know the community is going to be so proud of you, but so excited to hear because like.
It's just nice to know what you're up to, my friends, It's so sweet. Thank you so much.
I want to get into it, though, it's just gretch. Have you got some money wins and confessions from the community.
That you'd like to share? Absolutely?
I do. First when I've got this week comes from Hannah, who said, I've officially paid off both my car loan and my credit card, which is two huge debts gone and a big fat weight off my shoulders.
How good is that? Congratulation?
Debt?
It's not just one two And do you know what I love about that?
So like complete side note, when people write into our group or comment on one of our threads and say I'm out of debt, you just know that the intention is not to get back into debt, because like how many of us have paid off our credit cards and be like yeah, okay, Like I'll put it in my back pocket and I'll just use it again. Like I feel like when they're commenting, they're like line in the sand, like I'm not going to do that again.
And I just I'm just so excited for all the change you guys are making.
And last thing, everyone get around each other. Yes when I someone comments that's so sweet, I know. Next, I've got money in from at Chelsea, who said money win. My flatmate and I have been discussing buying a dinner table for months now. She then tells me that a lovely wooden ica dining table has been sitting abandoned behind her parking spot, which is like allocated in their apartment.
They have specific parking spots since she moved in. No one's ever come back for it, so now they have a beautiful dining table for free money.
Money love that maybe someone eats dinner there every night. Maybe he's never busted him. That's true. That makes on the floor. Now.
Next, I've got of money win from Alla, who said she was shopping around for a new phone service provider because it is getting very expensive. Turns out that Optus offers students a discount, so it's thirty nine dollars for one hundred gigs over twelve months, so twenty bucks cheaper per month than what she was paying previously, which means she has saved two hundred and forty dollars for the year for double the data.
I lovely money win.
I didn't think you could get a student discount on something like that, so it's really.
Ask always really salty.
When I lost my student discount that I used to have on my old phone planned it was only five dollars a month, but like that plan was five dollars. No, the student discount was five dollars a month.
Lock me down. Imagine if it.
Was five dollars a month, I'd be like, guys, every body go no, it used to be five dollars a month. And I just remember being like, oh, I don't have a student card anymore to upload because every year I had to upload my student card to keep the discount, and then they took it away, and I was like, I mean, it's fair because I have a full time job, but I don't really like this.
My boyfriend was a matured student and his student ID expires at the end of this year, but he graduated like two years ago, and I'm really sad because we still use it to get cheape.
Yeah, okay, So like I feel like this is a Beck No, it's not expired.
Well, that's it.
It's like a driver's license.
Yeah, that's you might not have a car, but the licenses and the ID. He got an ID, but this is like a Beck broke tip. So I'm sorry for stealing your thumb. It's also probably borderline not okay to do, but I'm going to share it because I just saw it on TikTok and it was this guy and he had his student ID and he got nail polished remover and he like rubbed out the expiration on his ideas so he could still show it.
But it didn't have an expiry on it.
So I mean, if hypothetically that was in James's best interest, He's gonna be forever.
Yes, we really could do that. I mean, is it worth five a month? Maybe? I don't know. We're in the cost of living crisis. Guys.
Movie tickets are like thirty bucks a ticket, so if we can get them for half of that, I'm like.
All for it under anywhere you go there's like there's adult and then there's concession, and then there's I don't know, senior or children all of us.
So I'm like, the movies is so expensive too. Like, don't get me wrong, it's a luxury. It's not something that everyone has in their budgets. But like Steve and I wanted to go see was it June or something June movie? And Steve's obsessed with June, read all the books, and we're like, let's go.
I was shocked at how expensive it was to go.
Great, don't get me wrong, we didn't like do gold class or anything like that. We're just buying normal tickets. And I was like far out, like this is so expensive. I mean people in tickets and pop corners still like eighty bucks. Yeah, And I was like, do you think that maybe we could just wait until it comes out on Netflix? And the lookie gave me definitely said no.
So we went.
But I was just like, this is like a thing that we're going to have to think about if we want to keep going to the movies or do stuff like that. Like it wasn't a cheap date night, sure, And in my head when we're at UNI. The movies was a cheap dates.
Cheap day night.
I'm almost shaking at how perfect this is because my broake tap is very.
Very she's baiting all right, just don't want to get to that.
Please, Alex said, money Win. I had to expired one hundred dollars gift cards that expired last year. She asked the retail store if they could be honored so that they could still be utilized during the end of financial essales, and they said yes.
You know why they said yes, yes.
Because legally they have to exactly, so if anyone has any expired gift cards, they're not expired, my friends, they have to legally, yes, one of them.
I don't know why they still put a like expiry date on them. They have to honor them no matter what that do.
They still do that?
I think they do, But I feel like at least one person out of like a thousand is going to be like, oh, it's expired, Like I'll just chuck it.
Out, and they're just hoping that people just go, oh, it must be expired.
Probably so shady. I hate that, Yeah, I hate that.
But if you have any expired gift cards, definitely get them. You don't definitely go and redeem them or be really cheeky. One time, I had an expired gift card and I swapped it. I like went in and said, this is expired, and they were like, oh, we can honor it whatever.
I had that conversation and then I.
Got them to give me a brand new gift card and then I used it for a present someone else. Yeah, that's a good way.
It's such a good idea because I hadn't used it.
Well, I feel like at some point, if you haven't used the card or the present, like you don't deserve it anymore. A regift, yeah, but like a money regift. Yeah, I even know any cards. Yeah, I don't know why people, you know, there's that stigma like don't get people gift cards. Not like no, like I want a gift cards.
But also, if.
You're going to give gift cards, this is just my personal opinion, give the most option, Like don't just go and buy like a store gift card, go and buy them a Visa gift card. Yeah, true, Like I can use it for my groceries if I want. Yeah, great idea, because if you really wanted to be savvy, you'd use that gift card for your groceries, and then you'd transfer the money that you would have spent on your groceries to your savings.
Oh wow, okay, we're just hacking mine.
Just blue, like you can do that. Just want more money in from me for this week? From a Beck great name. Beck said, I just went to turn off recurring billing for my Microsoft payments so I can put it through under my shot back when when it ends. And they offered it two months of Microsoft for free.
This is good. Yeah, this is a good feel Like that's something you've said before. It was like your yeah, the best memory. That's so sweet. That was your bro tip. You said, like, go and pretend to cancel and then they'll give it to you cheap.
Yes, anywhere that's a gym, it's Adobe, they give to cheapot or they like take a few months on.
Us for a little test.
Yeah, so I always do that boys, pretend.
I can do that financially, but don't do that in a relationship, Like I can't recommend testing the waters and being like oh leave, like that's just toxic. But if the relationship is with your gym, absolutely.
Yes, absolutely give it a go. Okay, so do you feel do you feel ready.
For I'm so ready for your broke So they are a little bit different because I didn't actually I was a bit lazy this week, and I didn't source anything from the community, but I had I have like three from just me, which is very solvy.
Okay, Okay, she's gone row.
There were a couple of months there where you're like, guys, Like off air, you'd be like, guys, I don't know what my broke tip's going to be, And now you're just rolling back in with I'm not going to look at the community this week. I'm in give you three tips of my own. It's not even like stockpiling them for coming weeks.
I know that's really silly to sc I love it. I'm not not great with money. I'm not great with like figure out how to properly organize my broke tips.
But we're doing them in ascending or descending order, Like is it the best one first or the worst?
I think we'll do describe best.
I think the best one is first, but then you might find more joy in the last one.
Okay, all right, all right, what are they? Let's go? Okay.
Also, I want to say the middle one is just like a silly one that no one will ever listen to. But anyway, so the first one similar to what you guys were saying before. Cinemas are very expensive, and I did talk about how I turned my house into a pub a few years ago. Anyway, as you know, i'm dating, I have a girlfriend. Have you seen the post that they're putting on Instagram? If you don't fellow back on instagramming you, I'm missing out because they are really cute.
That's scy think you.
Anyway, I went to figure up the other night and I was like, it's just going to be like a chill night, Like we'll just like have like frozen pizza. Pizzas were on specials, like five dollars a pizza.
Yeah, I love those so good.
And when they're on sale out of ten totally. So I feel like I spent maybe ten dollars on dinner. And then what I did was the night before I went to km out and just got like a bunch of colored paper. I mean, I'm not a big fan of like the amount of waste that I probably used. I didn't have to, So you can do this a lot. You don't have to disclaim it.
In fact, I think Jess and I we're both just really envious that you have a partner that wants to do creative dates. I think both of us are sitting here being like, damn, we should have been lesbians, because I personally have a partner that if I said I went and got some craft paper, he'd be like, you can put that straight in the bin.
Well, actually, no, to be fair, my partner would also say the same thing. So this was I was doing this before she arrived. So I like I put like signs on the walls. One that was like Cinema eight on my door, and then like a little please put your phone on silent, like with a little and then like on all the walls was like coming soon. And then I just like photoshopped our face onto like a
grease poster. And on the TV it was like these fake everything was out of paper and these fake like you know, these big curtains that they have at the cinema and little like silhouettes on TV. And then there it was like a candy bar. And so in total, honestly, I'm gonna say that this thing costs me maybe fifty sixty dollars, but that's because I also bought snacks.
That's still cheaper than most date night, less than we looing to the actual cinema.
Exactly, and it we're just really cute night.
It was just a really sweet, like it's so nice being your own home when you like reframe your house because you're like, I don't want to be in, I don't want to stay in for the night, But like if you pretend that it's something else, then all of a sudden, you're like, wow, it is really nice actually watching a movie from home.
I can like wear no pants if I want to. I can't eat.
You can't do that at the cinema legally, yeah, you can pause it and have a chat and like you can't do you can be on your phone if you want to, which is also I spent more than that going and seeing June. Don't get me wrong, I know June has a cult following, but I fell asleep pathway through it, so I didn't even get the whole value of spending that amount.
And you don't have any snack you've ever dreamed of at your fingertips for free.
No, you're not even allowed to take any snack you want to.
The cinema, don't you exactly ends up being quite an expensive thing.
And if you want to and you get a.
Five dollar bottle of red a seventy five cent bottle of soda water, like if we could have got our Audi Le mule.
Oh, I beg yours, I beg yours.
I think it is common knowledge that my favorite one is the rose from Audi called Lemielee.
I'm sorry I didn't do. I'm gonna buy you a bottle. I'm gonna buy you a bottle and bring it. I shouldn't say what I heard, but I remember that love always fills me with joy. When Jess loses, you know, it's going to be a good podcast. Oh yeah, from a hero out. It's going to be a great show.
Sorry if you's listened this far already and it was just average.
Yeah was up until now. So that's my first broke tip. I love that into something really, I love that so much. Jess. I feel like that is a really good example of if she wanted to, she would completely completely.
My boyfriend would rather just pay ten bucks for a single coke and call it same.
And I feel like, please don't get me wrong, I have a beautiful partner I am not mad about any of any of it. I do feel like sometimes I hear beck stories and I'm like jealous.
We have a word to your partners.
You can be he's not going to listen. We'll send them this clip, send the click and send it. I'll be like Steve, the expectation has been set here, you're about here bes here well, But I'm a bit extra.
I feel like if last your partners are probably showing love in their own wonderful way languages.
You're right, exactly.
You don't have to be that extra, but it is money saver at the end of the Day's tip too.
Number two.
I feel like I always talk about this now that I'm working again for this company. I am fully on their Instagram, I saw the other day they posted what's your go to I'm broke meal? And I thought that was a really great thing to just quickly skim through. So we should put that as a thread in our face book group. Yeah, yeah, we'll do that today.
So as of Friday, there'll be a credit in our Facebook group of like, what's your go to I'm broke meal? Yea, I feel like that's a good thing to share.
Yeah, it really is.
Because if you're running out out of ideas and you actually have no money, then it's really great to just like hunt whatever else is doing.
Sonte pizzas on tail, Yeah.
Yeah, oh yeah, that's like such great value. So a lot of people mentioned tim spaghetti and cheese like as a toasty which a little jafful moment, a little jaffelel, and that like that really wouldn't be more than a few dollars.
I think that's a great idea.
Has to be wonder white bread though, like I know other bougie bread options exist, but if you are making a jaffle, yes, I'm pretty sure legally it has to be white wonder white bread.
It does it doesn't know, that's correct, it's created absolutely.
We've got micro popcorn, which is what we did in the Fake Cinema, which is obviously if you're going maybe for you're going to the cinema's you micraabe your own. You just chuck it under your jacket, you walk straight in. It's like what is like a dollar.
You've got to have the conviction though, and like I would get to the front thing and be smuggling it and be like, by the way, I'm smuggling like I just shaking.
You just can't hold it anymore. I can't. I'd be like, are you gonna wear arrest me?
Like the seventeen year old working at the cinema wouldn't give a shit.
Yeah, their phone's not looking anyway.
I'm paid fourteen dollars an hour. I'd do what you want to pay exact system.
But you do get those random ones that are like weirdly really a trip.
They're on the power trip.
They're like on the trip exactly. You gotta look at for those ones. Another person said breakfast dinner, which is like toastal cereal. It's like a great idea migering of course. And yesterday so I went to Coal's and I obviously, as as I always do, I am broke and went and I was like, what can I get? Two meals for four dollars is all I had? And I got a little pack of those I have said this, four the sardines is ninety cents each. Two of those and then a little thing of two microwavable rice.
That's it.
And that's that did me for two holidays. I want you to know I also had bread in the office kidchen. Okay, yeah, but So that's I think if you want to like jump on that thread and the one that we're going to put up as well. But I think this was like kiss one on one one or something. If you follow on Instagram, just have a little browse through and see what you know, See what.
That's a good tip.
I know you said that we were going to be disappointed and no one would do it, but like now we've got a whole Facebook thread coming for the community because of that tip.
You're a genius. And now yesterday, as you guys know, I've got a job. I'm now working for Gold So an employed woman, employed.
Woman, I read an article about free and fund activities to do in Melbourne this school holidays.
Do you want me to give you as the link is that? Oh yeah, we'll chuck it in the show notes.
Okay, cool, because they don't read it out because that would be way too complicated.
But we will put the link in the show notes.
I guess I'll just like I'll read some really really quick ones. So there's the chocolate Factory diorama at North Melbourne Library, completely free lego Chocolate Factory diorama at Library. At the dock, you can like create your own creations. It's all free. It's all free to do this school holiday.
When you say.
School holiday, it's just there like age limits on this.
This is the thing.
I was reading these and I was like, oh, yeah, your ess and my jests will all go together. It can be a group date that would be really cute.
But like not a group date, but like a group date. Jess and I will do the things together that our partners won't do.
That's what girl.
Friendships are four exactly exactly. We've also got Walker's Wacky Workshop where you can create in craft orin sweet treats.
It sounds delicious. I love a nerds gummy cluster and I think they're Wonka.
So the girls in the.
Girls this week they had nerds clusters and I hadn't ever had one. It was a textural experience. I thought it would just be a whole heap of nerds stuck together. But it threw me back to like, do you remember in high school? Maybe they still have them, the nerds ropes. It was like it was like, yeah, it was like gummy in the middle with nerds stuck.
It was an experience really good, not for me personally, but why I wasn't that sold. That's why I was like, it was an experience, really really nice. It's a sensory experience.
Last one is this really cool science thing which is like a south Bank library at Void. It's George's marvelous medicine mix up where you like make your own color changing medicine thing.
Anyway, so you make medicine, you're gonna have to give us more like. It's not just a drug class for kids. It's actually no, it's more of like a science.
It's like a science experiment. So it's also for adults. You can just go on your own. I feel like I actually will I have.
A baby now, which I think gives us all of the rights to be like Harvey.
He might be four months old, but he wants to go to the zoo.
Yeah, all the fun activities. Jess and I we're going to be in Oh, we'll have to take the baby to that.
Real hard all your life is just like your world has opened up. I know what is your oyster?
Now?
Thank you? Thank you.
All right, let's go to a really quick break on the flip side. We're going to be talking about buying property from an inheritance while in a relationship, and we're going to unpack something that you slid into our DMS about. We're chatting this week about covering costs when travel with friends changes, so guys don't go anywhere. Welcome back, everybody. Let's take a listen to this week's money dilemma. Hi. There, have you got a money dilemma you just can't solve?
The Sheese on the Money team is here to help. Every week, we tackle your dilemmas, both big and small, to answer your most burning money, career.
And life questions.
To get involved, simply head to our website and leave us a short voice recording and you might just find yourself on the show. Now, let's take a listen to this week's money dilemma.
Hey, guys, I recently come into quite a large amount of inheritance and I'm looking into buying my first home with this. It's such a bit of sweat time and I'm so grateful for this life changing opportunity and i want to ensure I honor it. I've been with my partner for just over four years and we have all the intentions to continue. While we share our bills fifty to fifty, we don't share finances or own major assets together, and we don't intend to have kids or get married.
My partner hasn't got enough savings yet to put down a deposit. I'm a little unsure about how to go about buying a house and sharing with them. My options would be to buy the house independently and have my partner pay rent, or maybe have them share a very small portion of the deposit. Both feel like there is some gray area. We are currently in the sharehouse and
dying to have our own space. I want to help us both, but I do know of horror stories where someone is able to get half a house they haven't paid for. I'm wondering what your thoughts are on this? Thank you?
What are you guys for reckon?
I didn't even think about the last bit where like you, if you're like parted de facto, maybe you can get path of a property or like the money from that property. Because initially I was like, oh, yeah, just buy it yourself and then it's yours, it's yours. But I did not think about that. Is that like how much of a concern is that? Is that a real thing?
Like if you just so like technically speaking from what I understand, you like, But I mean it happens when you just live with someone, Like technically, my partner and I have lived together long enough that like we qualify for like a share, like we could go after each other's like super one, all of those sorts of things.
So in Australia, a de facto of relationship is when two people are not married but live together or have lived together as a couple on a genuine domestic basis, and a family law court can make decisions if there's no agreement. So essentially, even if you were like not boyfriend and girlfriend because you hadn't put a label on it and then they moved in like after two years, you are actually de facto when it comes to the
eyes of the law. So you actually do have to be quite careful about that because your assets do get mixed up into that, And I mean there are conversations to be had about what assets you owned pre relationship and then what assets you acquired during the relationship and whether they come into play. But as a basis, what happens is and I mean the courts are going to look at things differently if it goes that far, but yes, they are able to go for your stuff, I guess
is the really short story. This is going to change depending on what state or territory you live in, or even what country you live in. I know that in Australia, Jess you mentioned like, oh, we could go for each other super, and that's absolutely correct because Jess lives in Victoria, whereas if you lived in Western Australia, that's not the case.
So in Western Australia that's the only state that you can't go for your partner super, which, to be honest, I don't like because I feel like that significantly impacts
women more than impacts men. And if you think about it a little bit deeper, a man might have been able to be in the workforce for their entire career and how to stay at home mum for their entire career, and then they decide to get a divorce once the kids have grown up because they stayed together for kids, for their whole relationship, and now the mum is significantly worse off because she has no retirement savings and she can't actually access any of that, even though you and
I would probably agree that, yeah, she probably should be able to access some of his super. So there's a deeper conversation about that to be had, and I know that there is a lot of conversation about that changing,
which is really positive. But ultimately, these laws exist to protect both parties in a relationship, because if you acquire something in a relationship, Beck, when you and I are all happy and hunky dory, there's an assumption that it was both of our relationship and our you know, supporting each other that got us to that. Whereas an inheritance
that's a different story. And you and I might might live together because like, cost of living is really high, and at the end of the day, I do feel like lots of people they just move in together because it's honestly convenient.
Like, Beck, life's expensive.
You're staying at my house five nights a week, anyway, why don't you just move in? Like it wasn't that serious of a relationship, but like, let's just do this for now.
If we break up, you just move out right really easy.
But what if you got an inheritance, I'm then legally able to be like, oh, well, we broke up, but like you got that during our relationship, I can have half of that. Yeah, I feel like it gives me the like A good thing to bring up is that, like, regardless of whether you buy a house or whether you use the cash for some other asset, theoretically they may be entitled to that regardless of what you do with it. So like putting it in a house or not putting it in a house, isn't the difference between.
Yeah, it's not and not protecting it.
Yeah, Like the cash is up for grabs, and it's not necessarily immediately up for grabs. And this is where you need to get a financial advisor or an accountant involved to discuss this because often what happens, and this is probably going on a little bit of an inheritance tangent, and we'll put in the show notes a couple of
links to episodes where I've spoken in more depth about inheritance. However, when an inheritance gets transferred, right, let's say I passed away yesterday and I've put Beck in my will, what often happens is I might have establish to trust, which will then become a testamentary trust because it's testamentary because I've passed away, And that's the only way a testamentary trust can be established. That money sitting in that trust. If it's in the trust is protected until you take
it out of the trust. So often people go, I don't need the trust. I'm just get rid of that right now, because you know I'm going to have to do a tax return for that trust.
And that's money that I don't really want to be spending. That's expensive.
But what you're forgetting is the protection that trust is currently affording you because if it was inherited to you. And don't get me wrong, this isn't legal advice. This is just how I've seen it happen with previous clients. If it's in the testamentary trust still and you haven't dissolved that structure, you are going to be in a position where it's protected from your partner the second you pull it out and put it in your own bank account.
Even if you don't want to make a decision on it right now, it's now an asset that they have access to. So we need to make sure that if it's been left that way, it's there. But then you also need to be talking about, all right, well how do I protect this. Let's say it just got transferred directly to your bank account. Talk to your accountant about
setting up a trust to begin with that. Maybe you put that in talk to your accountant about maybe working with them or working with a legal advisor to set up a binding financial agreement that outlines, Okay, I got this, and if we break up, I don't want you to be able to take it. Any sane, reasonable human being would be like, yeah, of course, Beck, that's you know, money from a family member or a loved one that's really important to you and I actually have no claim over that.
To me, it's a red flag if they were.
Going, oh, but like if I broke up with you, like, what do you mean, I got nothing? I'm sorry, Sorry, sir, Absolutely not so I think it's important to have those conversations. But then also even if you're like, oh, but I'm in love with Beck, which I am, just would mean of course I get it, but we're never going to break up. This money is for us to create our
future and build our future. The best time to be talking about what would happen if our relationship dissolved is when we're in the best possible position, right like, right now, nobody's cheated right now, there's no animosity in our relationship. I want to sit down with you and have a chat about the best possible outcome, and usually protecting an inheritance is really smart. So let's say that you purchased a property with some inheritance and you use that inheritance
as your deposit. Beck, Let's pretend for a second that the inheritance is from me, like it's come through me. We're in a relationship. You didn't have a house deposit. All of a sudden, I've got this inheritance. We have a house deposit, but you're going to pay fifty percent
of the mortgage. So maybe we put together a binding financial agreement that if things don't work out between us, I can pull out my inheritance and put it back in my bank account from the profits of the sale of that property, and then we split things fifty to fifty after that. Yeh, So I think there's a conversation. It doesn't automatically mean that you get my stuff. You're obviously benefiting from it because we're getting into the property
market together. However, I think they need to be a deeper conversation around well, actually, if this doesn't work out between your eye, like, I want to walk away with what I put in, And the same is true for anything like you know, Jess, for example, is talking about purchasing property. She's been very open on our podcast about that, and she's doing it on her own. I have been in the background being like, Jesse, if you don't have a binding financial agreement, I'm coming for you, Like you
want my help, this is what you're gonna do. Not because I don't love her partner. I think her partner's great. I don't think they're going to break up. I think that they're in a really solid relationship. But Jess is the one putting forward a deposit and he's going to
move into the hat. Like there's a lot of things that I go, we as women need to be protecting ourselves and making sure we're in the best possible position, even if the relationship we're in is one hundred percent sound yeah, Like these are things we need to be considering because I don't think anyone gets married because they go like it's all good, let's beend like what one hundred grand on a wedding or something for us to get a divorce later. Like, no one gets married if
they think they're going to get divorced. No one goes into a relationship and says Jeff, let's move in together.
I love you so.
Much to have to go through the pain of breaking up and moving out and being like, are these your pots or my pots?
Who gets the microwave?
No one wants that, right, Like, you don't get into a relationship because you know it's going to end. So I think we always get into things with the best intentions, and as humans, we are internally very optimistic about relationships. But I think that we need to protect ourselves no matter how much we love someone. And that can feel negative because you're like, I don't want to bring up what's going to happen with my partner if we.
Break up, but you have to. They're the rules I made them, so.
I feel like I've got nothing else to add.
I think that's very, very thorough and well sigh again.
If you want more information on inheritance, we have done a couple of podcasts on them, and we'll make sure that the links to those podcasts are in the show notes this week, because I think it's an important topic. Like, at the end of the day, it could be five hundred dollars, it could be five hundred million dollars, but that money needs to be treated with respect, and I think that often we get analysis paralysis around these things.
And I've said it before, we often also carry a lot of guilt when we have an inheritance about you know, honoring it and doing the right thing with it. And you know, I think that's a really big topic that if you know you're in that position, please do some more research.
Yeah, completely agree, let's soul we should we Yeah, one time of the week, Beck, you are right.
I think it is time to slide on into something juicy. Are you ready for this week's money dilemma?
Yes? All right, let's go.
So here's the DM that we received, Hey, team, question for you travel related and then the like little aeroplane emoji. I'm going away to Bali with a friend and all has been locked in for a while. Now we are spending two weeks together before going our separate ways.
To do further travel. Very nice, all right.
She has had a last minute change to itinerary, which now means she'll leave me two nights earlier than we had planned. For this accommodation, we were paying two hundred dollars a night each, so a total of four hundred dollars. We were splashing a little bit because this was our final destination. Now she's leaving, she said that she won't be paying her half of the room we have already booked. I can't afford it on my own, so I'll have
to change accommodation, which is really annoying for me. But on top of this, as it's such a last minute change, I'm talking this is next week. Other accommodation is looking at being about three hundred dollars a night on my own. She isn't willing to put anything in, but I think she should. What do you think and what do you think I should do? Oh, you gotta pay for it.
Exactly before it is crazy.
Yeah, like you can cancel it, like as she's saying, like everything else is really expensive and also leaving a week out, you kind of like staff for options. But when I was in Japan, I kind of told my friends, like I don't know that I'll make it to the last leg, but everything I'd already been booked, so obviously I'm going to pay for it. Like there is the it's not even a question like that's so I agree, you just you obviously got to pay for it. Otherwise,
like this listener's whole plan would have been different. I'm sure they would have maybe like gone somewhere else and just like left later or whatever. You just you must, there's no question about. It's black and white.
You must. But how do you deal with that? Now, that's that's a tricky thing.
Well, I feel like shooting them in the foot as well, because it's like, all right, well, if you're not going to be there for the last two days, we are planning and going our separate ways. But even if she wanted to fly home early and go, all right, well, I can't afford that accommodation, Like I'm just going to go home a little bit earlier.
She's probably gonna.
Have to pay fees to change her flights, like yeah, and fee changes on flights are expensive, so it'll probably cost her four hundred bucks to do that anyway, So I just feel like that's not fair. Like I can see that her friends like, oh, plans have changed, but also you agreed to that, Like you can't just back out and be like, oh, by the way, you're in a foreign country and now you're going to have to change accommodation. I don't know about her, but I also
at four hundred dollars a night in Bali. That's expensive to me. I don't know if that's just you guys, Like I don't know what your previous budget for accommodation was, Like you know, you could spend thirty dollars a night in Bali and get something, and you could also spend a thousand dollars a night, So who knows. But I'm the type of person that likes to feel really safe and secure when I'm traveling, especially in foreign countries, So I wouldn't have been okay with like a thirty dollars
a night option. So like maybe that four hundred dollars was being spent because it was like, you know, the safe, secure, and now you're going to leave your friend hyen dry to go and find more accommodation and spend beyond her means to have that same level of safety. Like I don't know, I don't feel okay about that. No, I'd be curious to know why she changed, Like did an emergency come up and she's got to get home early because someone's done well?
Is she just deciding that she wants to go to a different country because it's close by, Like I think that that definitely plays into it, and it sounds like maybe she hasn't thought about it, because if they can change their accommodation, I'm assuming that maybe it's one of those maybe you pay a small deposit upfront and you pay the balance when you get there, and so maybe the friend has just gone, oh, well, we haven't paid for it yet, right, so like it's not like you're
out there. Maybe it hasn't computed in her brain, yeah decision, and maybe she just kind of went, oh, like, it'll be easy, Like you can just find something by yourself, like we've done all of the rest of the trip cheaper. You know, you'll be fine, so like, which I think is very selfish, don't get me wrong. But maybe the way that our listener can approach it is to kind of highlight these things and say, hey, like I've looked,
there are no other options. It's going to be so expensive that I can't afford it, Like you're really kind of screwing me over effectively by doing this, and we had agreed and it's so soon that there's not much that I can do. I feel like that's how I would kind of approach bringing it up, because I agree, like I think it's very unfair to do that to somebody. And if you had to change plans, if it was me, I would say, oh, well, I'll still pay my half.
It is but maybe you know, to play devil's advocate.
Maybe the friend has just not realized the impact.
Has gone, Oh well, if we haven't paid for the accommodation, it's fine, Like it's not like you're out of pocket.
Not really think.
It's the week before that's yeah. And I can tell that they've already had this conversation as well, because she said she isn't willing to put anything in, but I think she should, because that's telling me that you've already had the conversation. And she said, well, I'm not willing to do that, Like what are you talking about? So this is like a secondary conversation. So to me, that's even harder. It's not like, oh, I think she should
put something in. How do I approach it? Like this is the second these said no, How do I go back to her and say, well, actually, I really think you should be doing this.
I don't know. It's an awkward conversation to have as.
Well, Like, but also, what do you do?
She just said if she sticks with guns and says no, like you can't shake her down.
Like it's kind of the potentialist of the trip to Ruin. Yeah, the experience while traveling, which is a little bit of a concern.
Yeah, I don't like that at all.
I feel like she definitely should be paying for her part because that was what was agreed to when you booked the trip, when you booked flights and accommodation. It's not, oh, my friend's decided that her budget is different. Like, I've just gotten back from a holiday, as you guys know, and for part of that holiday, my best friend Rose, she joined us. But it was a conversation that we had.
I said, okay, like how much are we budgeting per head for this trip before we even booked the accommodation, and she was like, oh, I want to spend about this much, you know, per head, And I said, great, no worries. And then you know, obviously I've got me and Steve and Harvey, like we were working it all out. We stayed in an apartment together, but we'd had that solid conversation. If she'd backed out, let's be honest, like
she wouldn't. That's not very her. But like I have no doubt she'd be like, well, we agreed to a certain amount and then you went and booked this like particular apartment because it accommodated all of us. Like, I feel like she would be like, I can't come that, I'm going to pay for my part.
Yeah, that's just how that would work. So I just look at it and go.
I'd be pretty miffed too if someone backed out and I was up for more money for something that could have been different from the beginning. Yeah, totally. What did everybody else say? So we went to the community as always, because we want to know what you think about this, Like we've got to get the tea. So we said, have you traveled with a friend before and run into
disagreements about money? Forty three percent of you said yep, I swear it happens every time, And fifty seven percent of you said nope, I've had no issues.
So it's beIN us, sat.
Fifty seven percent of people, could you, ah, just give us your tips and tricks for not having that happen, because I've traveled with friends before and there's always conversations about money.
Yeah, there's always like a oh.
We want to go and do XYZ and someone's like, no, the tickets are too expensive.
I don't want to do that.
I want to do this, and then you go, well, I'm not willing to spend that on this, like it happens every time. We also asked do you think the friend who is leaving should still contribute money towards the accommodation In a surprise to not anybody sitting at this table, eighty six percent of you said yep, it's unfair to pull out so last minute. But fourteen percent of you said nope, they aren't staying there at all, so they shouldn't pay.
Well, fourteen percent.
Of you don't want to go on holiday with you You're not invited on friend's script trip like not happening.
No, no.
We then said give us your two cents because obviously we're going to need that any more. Thoughts who's in the wrong here? And you guys had opinions, so let's read out a few of them. Someone said, if you don't have four hundred dollars extra for potential travel emergencies, probably shouldn't be traveling. Okay, but savage but true from my perspective. Unless you're beck Yolo, absolutely going back on that before I read out the next one.
But you wouldn't do that to a friend. No, I wouldn't do that.
No, you might not have an additional four hundred dollars, but you're not going to not pay for what you agreed to.
Is that right exactly?
But also if someone had done it to me and I didn't have an extra four hundred to pay their bit, yeah, yeah, I would probably be screwed. But that doesn't I shouldn't be penalized for and be like, oh, you, well, you shouldn't be traveling anyway if you get exactly, if you don't have any wiggle room.
I agree.
I agree, it's up to you, but it shouldn't be your responsibility totally. Someone said, there's so many accommodation options in bali op finds something mid price and lux for the same amount.
It's a good point.
You definitely could do that, but I don't think that's fair to have to do that. Someone said the friend needs to fork out for changing plants. That's the cost of them changing their plans. Someone said she should still offer to pay for the accommodation, given she's pulling out last minute.
Someone else said, I would suggest looking for a.
New place, and then if that's not feasible, saying I would cover it.
I think that's fair.
I go, Beck, is there any chance you could change accommodation to something cheaper so that, like, I don't have to spend this, right, that would be a nice way of putting it. And then if I go, look, I really couldn't find anything, it's still going to put me out, all right, no worries, I'll cover your part. That could be an easier way of going about it. Then everybody might end up happy. Yeah, but she said she looked and there wasn't really anything available. She said that it
was going to cost at least three hundred dollars. Yeah, but that's clearly not how the conversation went. Yeah, could have been a way to approach it to begin with. Someone else said they're going to Bali. There's how many nice villas for like fifty dollars a night? If you could send me those villas that if a group trip you guys, someone said it would suck. But would you want to pay for a hotel when you're not staying there? No way, I mean no. But it's not about paying
for a hotel when you're not there. It's about paying for as you said, changing your plans. Yeah, Like, if you didn't want to be up for that cost, don't change your plan. Like, I don't know what your plan was, and as you said before, ess, we don't know where it could be. Yeah, it could be an emergency, and like you know, she has to spend money on flights home, but like, I don't think that's the case here. And we're just assuming it's because she's gotten a better offer,
is what I'm going to assume. Yeah, she's gotten a better off us she wants to go somewhere else with a different friend. Now, Like, no, I don't necessarily agree. I think that while it does suck, you have to pay that fee for changing your plans, and if you can't afford that, well, don't change your plans. Yeah, someone else said the friend should be paying the difference of the one hundred dollars a night for the three hundred
dollars hotel. Oh, that's potentially a good compromise. So instead of paying two hundred bucks, you pay one hundred your friend.
Doubt everyone kind of wins a little bit.
Yeah, Yeah, And then the last one I'll share is if you don't have a cash buffer, you shouldn't be going on holiday, which seemed to be a conversation that lots of people wanted to have.
But Beck disagrees, So I disagree. You just got to go on wing it.
But that's why money is so fickle, right, Like you shouldn't and it's all about financial literacy. And I say you shouldn't because from my perspective, you shouldn't, but you go yolo. I know that that's your opinion, Victoria, and I do it anyway. And it's like, jes you've said before that how many cents did you have in your account when you came back?
You could it's like thirty six cents or something. Couldn't get a chocolate bar at the air.
For But like we've all been there, Yeah, does that mean we shouldn't have done it?
Yeah?
Well, I mean, in hindsight, we probably shouldn't be better prepared.
But did you die? No? No, exactly, so a great time. Yes, don't get me wrong.
My job is to give you the financial literacy that I think you deserve.
What you do with it up to you, babes.
Yeah, you want to go on holiday to Japan and not have any buffer and you're comfortable with that.
I'm proud of you, Thank you so much.
But you know yes, Like I know, I don't want to say you know better, but you know what my opinion as a financial expert actually looks like, yes, and you're given the opportunity to choose. I don't think it's fair when you don't have the opportunity to choose the best thing for you.
I feel like this is a very good lesson, ultimately in why you should have a buffer, ideally when you travel, because you never know when something like this is going to happen, or when you're gonna hurt yourself and you need to fly home like whatever. Like our listener is saying,
she literally can't pay for this accommodation. Well, is the choice going to be between either you know, ending up in some real sketch, last minute twenty dollars, Not that being cheap means it's sketchy, but you know, just finding something she can afford that maybe even the safest option,
or like convincing her friend to stay like that. I guess to me, it's it's such a good example of why that buffer is important so that you're not stuck with that choice of like, oh, if my friend doesn't pay me, what do I do?
Yeah, exactly, And that's not something travel insurance is going to cover. Yeah, Like, that's not how that works. And I guess that's where I want to leave it. If you can afford to travel, you can afford travel insurance. That's all I'll say about that. You don't want to have a buffer, I don't care. Just have travel insurance. That's my only non negotiable when it comes to travel. I just want you to have the financial education. What you do with it is actually none of my business.
So let's leave it there.
Guys.
I hope you have the best weekend and we'll see brighton early on Monday for a money diary.
I am back and I am so excited about it. Guys, see you soon. By guys.
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