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. She's on the Money, the podcast for millennials who want financial freedom. Today, my friends, it is Friday again, which means it is time to get my little team together and celebrate you our incredible She's on the Money community Today is just Grich is going to be sharing our favorite money wins from the community. Miss beck say Ede she's got a few broke tips
I per sleeve that she's gonna share. We're going to be helping to answer a juicy money dilemma, which this week is all about why you should invest, and we're going to unpack something that you slim into our DMS about this week. We're talking about owing money to your friends. So before we get there, I want to know how your weeks have been. Mister Scricci. We threw you straight under the bus last Friday because you had your wisdom teeth out. I know I missed your guys. Are you better?
How did it go? I'm good.
Doctor Chris was very kind, very good to me, because I think we've said before on the show, I'm a little baby when it comes to going.
To the dentist. So it was just a baby. I'm just a baby.
I was very afraid, but he was so good and so it went better than I expected, which was lovely.
They gave me, I'm not surprised.
Lots and lots and lots of nubbing, but lots of did you go home just drooling pretty much? I had my partner come get me because I was worried or he like drove me there and took me home because I was worried that I would be like a little bit, a little bit stressy, a little bit out of it. And so I was sitting there and I just they gave me gauze to like staunch the blood or whatever, and so I was just like dropping bloody gauze and because I was so like out of it in the moment,
I forgot. And obviously when we got home, I just like got out of the car and went to bed, and then he drove his friend. His friend went to the gym that night, and he drove his friend and he was like, did you did you maybe leave something in my car?
And I was like in bed.
Like like he sat and nearly sat on a pile of just bloody dishuices.
Yeah, his friend would have been like, did you kill literally?
So what happened? You been doing? But you're recovering well, feeling really good? Chatty Kathy back and ready to go.
I love to see big perfect miss excited. How has your week been. It's been a roller coaster. I've gotta be honest.
Why roller coaster?
Well, okay, so as everyone knows, I've been redone and blah blah blah, like seven years ago.
But anyway, it was like not even seven weeks ago, but okay.
And as also as everyone knows, I'm not the best of money, and I kind of just like had a bad a really bad day the other day where I was like, oh my god, I have no money and I was kind of like, you know, I was stuck in Southierra because I couldn't afford petrol to get home, and it was a whole thing. But anyway, I I wouldn't like trauma dump on it, No trauma.
Dumb, because I feel like lots of people are gonna go relatable.
Okay, good, I would hope. So that's the only reason I'm kind of saying. It's like, oh, I'm sure there's someone out there that's kind of been in this position, and but my mom helped me out, and like, you know, it was all good. I was like, oh my god, I'm thirty thirty one and I'm calling my mom.
Crying and I'm I don't know what to do.
But it's all been up from there, and I've just had a really good week just with friends, just doing like really cute, wholesome things and just doing things that like don't cost any money and that you know, it's it's been. It's actually been really nice, trying to find waste have fun without spending anything.
Did you see the Southern Lights? I feel like that would have been right up your alley over again, so up my alley jest. But I didn't realize it was happening until after it happened me either.
No one called me, and then all my friends text me, Oh my god, look at this picture I took. And I was like, I'm so jealous.
Yeah, but the good thing is I don't think you could have seen it with your human eye.
Yeah, it was like James ragensy could see like a little tinge of color, but you couldn't see anything like how you could in photos.
So we were on the peninsula. I didn't I was there, I could have had the opportunity to do so. But my parents saw it and said it was beautiful and really really cool because that's something that my mum had always wanted to see, so that was really cool. I'm glad she got to see that. But then also my best friend lives in Tasmania and she sent me I'll show you after the coolest photo of the sky and I was like, that can't be real, and she was like, yeah,
over Hobart like they were out near the airport. Apparently it was elite and very very visible, but again there's not a lot of light pollution in Tasmania, so you know, you guys live quite close to the city, so I'm not surprised we couldn't see it.
It was as good. Yeah, oh that's so cool. We're all just gonna have to go to Iceland and see the norm of.
All right, absolutely rude, not too so let's do that. I'm sho oh thanks, you see really good. I have my very first Mother's Day, honestly, very exciting, but also kind of weird because I don't identify with being a mother yet. Yes, like I am, but I also feel like a teenage parent, Like I'm thirty two and I've heard my first teenage pregnancy and I'm not equipped for this. So when people were like, happy Mother's Day, I was like a baby, just a baby myself. Yeah, so that
was really fun. Got to spend it with my mom. We went out for some all you can eat Japanese which was amazing. Get this, Jess Beceruy knows because Becky, we've both been to this place. Thirty nine dollars or you can eat thirty nine money money. I would take you next time. Unlimited tempure vegetables. Oh it's really good food, delicious, amazing, all right, let's get into the show because I'm really excited.
I have been trolling through the Facebook group this week, just like reading all of the comments, so I can basically bet that I've already heard all of the money wins this week, but I regret nothing. So Jess, what have you pulled out for us? All right? This week?
Firstly, I have one from Tory who said a great name, excellent name. I needed a new puffy jacket and I wanted a Patagonia jacket but it was three hundred dollars. She found it on sale for fifty percent off this weekend.
Oh that's your god of money. Wine brand new for one hundred and fifty dollars.
And Patagonia is an awesome We've spoken about them before like they're morals a body. Yeah, great quality and like a company with really great ethics, which is awesome. Next, I've got a money win from Gabby who said win, I've saved six hundred dollars that I was quoted for a bond clean by just doing it ourselves. Had a huge day of grubbing, but we got there.
I feel like you've got a few trip nails from that, but that would be worth it. Bond cleans are so bloody expensive.
And little pro tip. I got into an argument. I've ever done this before. I've made a comment on an Instagram post.
And I was like, well, you're getting in an argument happens regularly on an Instagram post. No, that's usually me just like sends me screenshots of my own comments and says delete this right now.
And I'm like, fine, fine, Yeah, I'm not one to have a little argument on the internet. But I commented because someone was talking. It was someone talking about like a similar thing, rental clean, and I said, oh, at least in Victoria, did you know that they actually can't legally force you to have a professional clean done.
Some the kboard warrior decided to correct and I was, let you know that you were wrong, that, like Jess, is never wrong. But I could just know this as a fact, Jess never wrong. It's really nice. I wish I could relate to people who were but I simply can't.
I don't think i've ever no, I don't think i've ever experienced no.
No, I definitely haven'ten But yeah, it was I anyway, that isn't either. He was just a little and a But if you're in Victoria. Did you know they can't force you to pay because they often try to. They put it in like your lease agreement, that's actually not enforceable.
It's illegal.
But I want to know how this conversation, like, what did the person say?
So they I replied to them and said, oh, it's actually not you can't do that. It's not legal, like it's on the tenants Fick website if you want to check it. Don't know about other states, but for Victoria specifically.
That's not nice all I'm talking about.
Yeah, exactly right. And then they came back and said something. I can get to see what they said because when I went to it, the comment was actually gone.
So that is them recognizing that Jess is always right. As they were embarrassed, they put their tail between their legs, and they went home well good as they should.
Hopefully that's a money win for anyone in Victoria. You don't have to You can do a perfectly good job cleaning it.
Yourself, unless you're really a boad at cleaning, in which case maybe get a cleaner.
Yes, yeah, next moving or a long next money when I've got is from April who said long term money win. I made a three thousand dollars lump sum repayment on our home loan. She did the most must be nice, it must be very nice. But that three thousand dollars equals eleven thousand, eight hundred and ninety one dollars that they've saved in interest.
It's that cool, very very cool.
Do the maths because you'll feel much better about making those payments.
Yeah, and she said it's going to make her really rethink they're spending first saving and stuff, which I thought was just like a cool thing to like have a play around with and super motivating.
Yeah, exactly right.
Next, I've got a money in from Nicole who said I was going to have to pay four point five thousand dollars to get my daughter assessed for autism.
I did not know it was that expense. WHOA, that is crazytism anything neurospicy? Yes, so expensive. HD, Like I was saying this to my mum the other day. I'm like, I'm so glad you guys had to pay for my diagnosis when I was a teenager because I couldn't afford it. Now I want to do it now. No, absolutely not, absolutely not.
But money in for Nicole she said she found out that the school can actually assist for a much more affordable price because they have a psychologist on their stuff.
Oh money, we very cool and great if you had good to know and to ask the school to get involved. If you're going through that with a kid, I would have thought of that.
Yeah, I know that's perfect, really lucky for the coal orful that people have to pay that.
I'm so sorry.
Lastly, I have a moneyman from Kristen who said I had to clean out old stuff from my old bedroom at home. In doing soon, I found two hundred and forty dollars and a winning crosswords scratchy tucked away an old birthday card. Oh my money, money, it's nice just.
Having two hundred and forty bucks accidentally in your room. Again, can't relate, No, I don't think I've I've found five bucks or ten dollars. Actually, one time I lucked out and found like fifty dollars in a coat pocket, my own coat pocket, so it was technically in my own money, but it would have been cooler if it was like from the shop or something.
Yeah. I love reading those stories, like what have you found in something you got to the shop? Like someone bought a box and they opened it and there was a bunch of cash, or.
Yeah, seriously, I've gotten onto the side of TikTok where people are buying things secondhand and realizing they're haunted. So maybe different, but I'm trying the same. No interesting though, people buying stuff and then being like, ah, yeah, so I bought this doll and I'm like looking at the video being like, how did you not know the doll was haunted? Like it haunted? But I love those kinds of stories. Anyway, moving on, Beck, I want your brocust of broke tips. What have you got so?
Oh, she's ready's.
Got it, I've got it up, I'm ready. This again won't be as rogue as some of my.
Exactly exactly, snaughty laughing. We have to stop recording. I don't want it.
Okay, well I can. I was speaking to an old friend of mine and realizing how wild a lot of the old things I did was, And this is not what I'm doing today. Those just same Beck, different day, exactly exactly. But those will come, those stories a right, okay. First one comes from Emma, who says, honestly, go to cost for free samples around meal time, that is such a good idea, genius.
They always do like they're sliced pizza or the dips and stuff. What if you just do lots of laps and just like have a whole entire pizza. Yeah, exactly, No, I reckon they cut you off. I don't think.
So we put a little hat on, put a fake mustache. They would never know that you're the same person. I think.
Yeah, that's true. See so many people. Surely they wouldn't even notice.
Totally.
We love Costco in this team. In fact, we were literally in New Orleans and brook who's on our team. You've probably met brook You would have met Brooks. She's been on the podcast before. Yes, so she's obsessed with Costco and every country she goes to she has to go to a Costco there just to check it out. That's such a funny obsition. Was an actual activity for all of us, or we just went to Costco like that was an afternoon activity, like it was like on
the iterial. I guess it was on the itinerary. We went to Costco. Turns out they're all the same. We learned nothing and then Brooke got a pizza. You did too, Jess. It was delicious, so good, but it was the same as the Costco pizza. You could have got here what you want. But I'm sitting there being like this same.
Yeah, as someone as a pickie eater, I appreciate knowing that no matter what country I mean, Costco pizza tastes the same.
You're also a very big fan of McDonald's exactly for that exactly exact reason.
Yeah, I get that.
I like get that, all right, Beck, What else have you got on their table for us? Okay?
Also should say free samples anywhere, Like you know, you go to Butcher's and sometimes they have all which I know be very feeling, but you know, you got to do.
We gotta do sometimes. Okay.
This next one comes from Laura, who says cultural Brooke tip. If there is a ticketed exhibition, say art design film, you want to attend, wait until the last two weeks. They usually sell fifty to seventy ish percent off tickets, mainly big galleries like NNGV ACME. I feel like ACME might be free or I don't know, mate, you're telling this story not me.
That's true.
I don't know what.
I should have.
Sorry, what we're gonna say, just I think they occasionally do like special exhibits that you might pay for, but like a lot of it is free.
Oh okay, MGV is the same. There are parts I actually not sure. Yeah, sometimes MGV is free as well.
Actually, but that's just good to know if that if it is an exhibition that you want to go to, but they are actually charging for that. So these you know, obviously again in Melbourne. I know that some of the community members are not in Melbourne, but if you are going on.
In your local area anyway, totally that could be like global.
Yeah, and there's some great apps and stuff that do last minute tickets for shows, like I use last ticks. I'm trying to win forty five they do like the lottery. I'm trying to get the forty five dollars wikied tickets. But they like it's like the end of the run of a show. They'll usually yeah, because they they'll like I guess a lot of people obviously, like every Wednesday they go you can enter to like be able to buy these like seven you're.
Always on to something. She actually is, She's just ridiculous.
You're always on one of our girls.
That Zella money actually a kind of vibe. She's in New Zealand this week for a holiday with her family. And I remember I was in New Zealand a little while ago and they have you remember how I was obsessed with that first table app? Oh yeah, yeah, So I was like, you can get on first table because they actually, like lots of the restaurants in New Zealand are on first table, which is if you haven't heard of it. Back you get the app and the first table of the night, like the bookings are like at
five pm. She has kids, so this works really well. You get fifty percent off for being first in the door off your bill money. We are okay, which kind of all comes out in the wash when you're home in nine drink.
Guys.
Yeah, I did that on the weekend when I did my thirty nine dollar all you can eat Japanese with my family. We took my parents and my sister and my husband and Harvey came and it was really good. It turns out Harvey he's not that into Japanese yet, but that's what we'll work on that. Yeah, we had a five thirty booking, so excited we were back home by like seven thirty eight. I was like this guys, this is living. Yeah, no, I agree with that. Peak motherhood Yeah no, no, just pick living.
Yeah, I agree with that.
What's your broke tip though?
Okay, so this one. My best friend Live actually told me about this, which is like some people lives broke tip. Sometimes you gotta do what you gotta do.
Yeah, that's that's broke away.
I do have a few in the bank though, but I thought, you know, I'm going to spread them out, so lives one is if you work in an office environment, or if you just like have like a trilliant housemates. You know, obviously like loyalty cards are really good to keep on hand. This might be a little bit dodgy, but what we do is you get everyone's coffee order, You get everyone to pay you for the coffee order, and then you get the and then you get the free one. So you've paid nothing at all, do you
know what I mean? Like, you get the free you put you deserve that that's not even payment for doing coffee, So no one had to pay. They just allowed you to have the free one.
Exactly. So yeah, exactly, And if they want to tick off their loyalty thing, they can go get their own coffee and take it off in their own time. Yes, exactly right.
So I feel like that's like I never thought to do that, but I'm going to start doing that for sure, like when I get a job.
Speaking of stuff that you can do at work, this is probably not legal in any other organization except for my own. Jess has her shot pack for work purchases. Oh yeah, so I'm funding the purchase, she's getting the cash back. Don't you know what?
I feel?
It all's fair in love and more. She I know she does it if I really with permission, but like maybe ask your boss. Like if you're an AA or you're you know, doing lots of transactions, you could literally be like, hey, can I just add my shop back to this? Why would they say no?
Or your rewards card if you're doing like all these purchases for whatever.
But don't just do it like first, ask first, because otherwise I think it could be constituted as fraud, and we don't endorse.
Fraud, no, not publicly exactly.
Jess is like, yeah, yeah, really really quickly.
I'm going to Japan next week, and I just want to say that I got really cheap tickets from the app.
Hold On, Hold On, Japan. Did you know that she was going to Japan? Did we know that she wasn't going to be on the podcast?
Oh, let's tell everyone actually said I had no money, but you gotta do what you gotta do sometimes.
All right, Jess and I yes, will man the desk.
Thank you, so we've got you, Thank you. I just wanted to put that out there. I know the pilot app is really really good for very cheap tickets. Okay, I've never used that before. Six hundred dollars return.
Oh my god, that's so cheap. How do you learn about that app? Did you get check luggage? You need to be wearing all. I'm going to be wearing everything. Just think that's the funniest thing that's ever ever ever happened. Think it. Sorry, Sam, If you edit out that's snort, you're done. You're done. That stays. The snort stays. Did you get check baggage? I didn't? Why is no one? No one's concerned? Oh my god. All right, guys, you know what, we know what she's gonna do.
Let's go to a break because on the flip side, we're going to be talking about why you should invest, and we're going to be unpacking something you slid into our dams about This week, we're talking about owing money to your friends, 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 that. 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.
Hi, Fees on the Money Team. My question is why should I I be investing rather than putting money into my super account. I know that there's lots of chat about micro investing and other platforms like chareseas, but I'm a bit confused why that's beneficial over salary sacrificing and putting money in my super with all of the tax benefits, and it seems like a much safer option.
What do you guys reckon before I take over? Because that's all I do.
I would only say that, like with super you can get it after your sixty five would unless like you know, special circumstances. But so that's like, if you're investing, you don't have to wait as long. Like forgive me if I'm completely incorrect, but that's what my my thinking is.
Yeah, you're right, totally right.
You can't access your super unless you're putting in for like the first home super save a scheme or something like that, you generally can't access until you're sixty five, whereas your investments you can liquidate them at any point. Right, all circumstance is allowing Like obviously it takes some time to process the tax, like you tax benefits you have to take into account, like it's something worth thinking, but
they're not going to be applicable to everyone. And I think a lot of the time she mentioned our listener mentioned micro investing specifically, I think a lot of the time, if people are investing small amounts, we want you to be investing those small amounts because they do grow into large amounts. But the tax benefits that you may see from that may not be quite so.
Significant from my perspective, So you've got to.
Kind of weigh up what the tax benefit is versus what you're doing. I mean, I think it's it really is up to you personally. Like some people do prefer to invest in a super, you don't have as much control. I think, like you can't pick your individual shares generally speaking, like you can't choose a platform that's really user friendly. I think you just have more control when you invest for yourself, which is what I like. But that's not to say that investing in super is a bad option
at all. It just is to use Victoria's favorite phrase, different horses for different courses.
Where did you even get that from?
I don't know, but I think it's so funny, So I use every chance that I can courses.
I also like to say, not my circus, not my monkeys. And I also like to say play stupid games, get super prices.
Yeah, Peach sorry, I don't want to talk about Peach close Taylor Swift.
What's the thing each to their?
Peach sorry is what I try to say, and I just sort up Peach.
I like that. I like that. It definitely sounds like something Jess would say. Yeah, very cutesy. It's very cutesy. Fust you actually knows that they're talking about perhaps all right, so first things first, should I be investing rather than putting my money in my super account? You are investing in both. So the one thing I want you to understand about supranuation, or the one thing I want you to take from this segment of the podcast today, is
that supranuation is not an investment. Supranuation is a tax structure in which you invest under and that tax structure exists to put you in a better position for retirement because the government wants to support us so that they
don't have to pay many pensions. Makes sense, right, But something that our listener said that I really wanted to like stamp out really quickly is she said, I know it's safer inside Super, and that is not true at all, because if you're investing inside of Super or outside of Super,
the risk is exactly the same. The tax structure of superannuation doesn't add any more security or take any away because if you're investing inside Super and you've got you know, some ETFs and a managed fund, if you had that outside of Super, it's not more or less secure. It's just a different type of asset.
Right.
So I think it's important to understand that SUPER is a tax structure that exists to put us in a better financial position. You're right beg about being able to access it after sixty five, and Jess, you are absolutely correct about the control. So I like investing outside of SUPER because I'll be able to access it before I
turn sixty five. And I want to be able to access my money before then because I want to retire before then, because old A is a privilege that is denied to many people, and they don't want to wait until I'm like sixty five or sixty seven or even seventy before I get access to my cash holder. Right.
But if we're talking about the tax benefits only, there are a lot of tax benefits to putting your money inside SUPER, And these numbers that I'm going to spit at you are relevant for the First Home Super Savior Scheme, which is a mouthful but also a really important thing to take into consideration if you're saving for your first home, because at this current point in time, you can contribute up to fifty thousand dollars into the First Home Super
Savior Scheme, which at a marginal tax rate of thirty two and a half percent, will mean you are nine and a half thousand dollars better off by using that scheme. So that's nine and a half thousand dollars of what I would say is free money, and we love free money in this house, right, So what we are going to do is a quick example. So let's say we
have ten thousand dollars of cash pre tax. You've just earned it, beck and you're trying to decide whether it goes into super or whether it goes into your investment portfolio or your savings or just keeping in your bank account. Right, So ten grand pre tax, if you put that into your bank account and you're on a marginal tax rate of thirty two and a half percent, which is you earn between forty five thousand and one hundred and twenty thousand ish dollars, that's you know, I think what most
of the population would fall into. That ten thousand dollars post tax becomes six thousand, seven, one hundred and fifty dollars, So that's what goes into your bank account and then
the rest goes to tax. If that amount of money went into your supranuation instead of your personal bank account, instead of being charged thirty two and a half percent in tax, you would get the supranuation tax rate, which is only fifteen percent, and that money would then be worth eight thousand, five hundred, So it's worth more than that six thousand, seven hundred and fifty dollars, which is
a difference of twenty one percent. So to be a difference of twenty one percent, that's basically like an instant return on your money right just by choosing the superannuation environment. But does that mean that we should be investing all our money in super because obviously you're making more. Absolutely not, because it's locked away, and so we need to kind of make this balance of how much is going to be in SUPER for when I do retire versus how much is going to help me achieve my goals today?
How much is going to help me, you know, be in the best possible financial position. Do I want to invest outside of super so that I can achieve financial freedom earlier? It's a fine balance between what you're doing inside and outside of SUPER. If you asked me personally, Victoria, do you add additional money to your super so that you know you can make the most of that at
this point in my life? No, because I really want financial freedom before I retire some point when I'm a little bit more, you know cash they could, and you know my businesses are able to pay me a bit more, I will put more money into SUPER. But right now my goal is actually my mortgage and paying for Harvey's future education and all of those things that are important to my husband and I. So just because on paper it's twenty one percent better, that doesn't mean that that
works for me. So I think the important thing here is really understanding that, No, it doesn't necessarily mean that SUPER safer. SUPER feels safer because we like structure, and superannuation is forced upon us, so you have to have it back, and because it's always been there, you assume it's a safe option. But that doesn't mean that investing outside of SUPER is unsafe. You just have to make a decision that's in line with your risk profile. So for me, the safety thing, I just wanted to stamp
that out really quickly. Is it better to put it in SUPER? The answer is very unclear because I don't know your personal circumstances. But what I need you to understand is that tax environment can be beneficial, but it's not as accessible, and that's where I go well, what's
going to work for you? Right now? You're able to contribute up to twenty seven thousand, five hundred dollars each financial year to your superannuation and get that fifteen percent tax rate above and beyond that you go back to your marginal tax rate. So it's completely up to you what you do. But if you're thinking about the first time super savior scheme, great scheme, great scheme, nine and a half thousand dollars better off if you were to think about using that over a five year period. That's
my rant on supranuation. Thank you for coming to my Ted Talk solid advice. Yeah, that's great. Oh thanks thanks. That's all I've got though, So let's move on. We had a DM this week. Are you guys ready to unpack it? Very good? All right, Hi, she's on the money. I have a money dilemma. My Bessie really wanted me to come on a holiday with her to Bali. She was trying to convince me for a full month. I told her I would love to, but probably couldn't because
I didn't have the cash. No problem. If you're beck though, Hey true little jabb going to Japan.
Yeah, no, you're so right.
I won't no judgment. I love you and all of the decisions do you make. Thank you so much, she said. In response, she said she was more than happy to loan me the money if it meant that they could go on the holiday together, which is really nice. We have been friends for years, so I didn't think that this was weird. I took her up on it, telling her I would need about three months post trip to pay her back, and she was really okay with that. She paid three thousand dollars for me and we had
the best time. But we've been home for a couple of weeks and she's told me that she needs the money now. She's spontaneously decided to move out of home. Post getting home, she saw someone post on Instagram with a free room up for rent for a few months and took them up on it really quickly. I literally can't pay her now or I wouldn't be able to pay my rent and buy food. What do I say to her? We agreed to three months, but it is her money, and if she wants it now, do I
have to cough it up as help? Okay?
So I find myself in this situation a lot. Actually going to Japan. My rent actually offered me money to go, and that's one of the reasons why I am able to.
It's really funny. It's very well timed. It's really Yeah, it's not a plan, it's just very well timed. I just think it's so funny.
Yeah, this is so because I didn't say anything to you guys before.
No, no, we had no idea.
So I guess the thing is, I have borrowed money from friends before. I always pay it back when I say I will. I guess like your friend, unfortunately, has gone back on what she said. You have an agreement. It's kind of like the same as like say you're borrowing from a bank or whatever, like you have X
amount of time to pay it back. When you agreed to this, you didn't have the anxiety and stress and pressure of having to pay immediately as soon as you got back, and so that's why you agreed to do it. That's why you went and had a great time. I understand that it is her money, and she is like, you know, she's owed that money and she will get
that money back. But if I feel like if this person knew that they would have to pay it immediately as soon as they got back, or like within the first few weeks, they would have definitely said no, they actually can't ford this. If you have all the information available to you and you agree to do it, but then you just can't make it happen, that's the story
for another time. But this is like you had all the information given to you, you thought you had X amount of time to pay back, and now your friends kind of come back and be like, no, I need it now, which is completely unfair to you. I feel like your friend is in the wrong here. Obviously it is their money. They do need their money back eventually, but if you had that information, you probably wouldn't have gone.
I think if your friend had said, yeah, you'll have to pay me back when you get back, you would have been like, well, I just can't go then. Thanks though, And they should be aware of that, right, Like you literally were being convinced for a month to take them up on this offer, right, Like, I feel like it is kind of unfair. Just what are your thoughts?
I completely agree, Like, I think the changing last minute, especially over something that's not necessary, like if the friend had had a medical emergency and I'm like, well I have to pay for a surgery. I could be a bit more understanding, but she's making a choice. It seems to me that perhaps she wasn't in the position to
lend the money. And I have a perspective on this that is said with lots of love and care, but I think across the board, perhaps we're not all managing our money in the most responsible way in this scenario. I think that if you're going to lend somebody money, you should be able to function without it for a significant period of time, unless it's a super emergency. Again, if you've got a friend in trouble and you can
help them by all means. But I think like in this case, if she was going to pay for a holiday for someone, which is obviously a luxury, she probably should have ideally been in a bit more of a financially stable position where she wouldn't have to go back on her word and ask for it sooner. On the flip side, I also think that if you can't afford to pay for a holiday, I don't know that it's the best or most responsible choice to go.
I'm really sorry.
I feel incredibly bad saying this year after you've just been so excited.
Sorry, sometimes it needs to hear the truth and we love Beck, but like, I don't think it's going to come as a surprise that if she said, V, do you think this is a good idea, Beck, I will outwardly say Beck, I think it's a terrible idea. But I also know that Beck just does whatever she wants, like no, but I'm not the boss of you, and my opinion is worth literally nothing like it. It's my opinion. You could put it in the bin, you could take it,
you can do whatever you want with it. You haven't asked me if it's a good idea, and it's not my place to say so. Or is this money diarist or this you know member of our community is like, V, what are you doing? In that case, I'll give you my opinion. But like, you're in a position, Beck where you know you've got all the resources. You've already said, look, I probably know I shouldn't, but you're in a position
where you feel comfortable to do that. You're probably really comfy with the friend who's making this decision with you, and like Yollo, like yeah, you know it's kind of like you know, Jess, I don't know the ins and outs of your relationship, and it's not you don't know everything. You can't judge someone for the decisions they're making. I mean, I wouldn't get on the podcast and be like, do
what Beck Doe? Like No, but really it's in Beck's best interests because she's probably weighed up the pros and cons. As you said, I know who it is like, and I know you two have a very close relationship and it's not going to go south. Yeah, So it's fine. Yeah, but it's different for everybody, and you can't just give the blanket advice that what Beck's up to is absolutely fine, because look what's happened to this member of our community.
Her friends come back and changed the dynamics, and that's a really tricky position to be in.
And that's why I kind of feel like hindsight is twenty twenty and like, obviously it's all well and good for me to say, oh, like you probably shouldn't have gone on the trip if you couldn't afford her, but like the trip is done and she had a great time,
and that's awesome. So I guess from here my advice would be that you you I feel like I say this every time, but you really need to tell your friend what you told us, like, yeah, it's I completely agree with what you were saying, Beck that it's it's
very unreasonable of her friend to shift the goalposts. And I think that if there is any wiggle room for you to expedite the repayments, try to do that, but not obviously at the sacri or the cost of being able to feed yourself, being able to pay your rent, Like, those things have to come first. Your physical safety and
health has to come first. And I guess the other thing that i'd mention is reviewing your discretionary spending because the fact that you went on this holiday when you maybe couldn't quite afford it says to me that maybe we're being a little flexy with our budget what we're choosing to spend on, which is fine normally that's totally your call, but I think that we've kind of had the flip side of this as a question or a
dilemma before. You know, if you've said to your friend, hey, I really can't pay you back yet, we've got this agreed timeline. Can I do it over the three months? And that's reasonable because that's what you agreed to. But if she then saw you going on a weekend away or blowing all your money on new shoes or something, then I can understand how the friend would.
Also feel a little bit put out.
So I think, like just making sure that on both sides we're doing everything we can to be fair and reasonable your prior urtizing that debt repayment. It is so annoying that that timeline that she's trying to change it, And I completely empathize with you because that's not what you discussed. You did the right thing and you put a timeframe on upfront, which was a great call. Very
well done from you. That was so smart, But you know, doing everything you can to pay her back as quickly as possible where possible.
I find that it's so hard because I mean flipping the tables only because it seems really relevant at the moment. I'm assuming Beck, if you thought that that would happen to you and the second you got back you'd o the money, you probably would have said no to Japan, right totally. Yeah, that's true. Whereas right now you're like, oh, I feel really comfortable and you trust the person to, you know, work with the terms that you've set up between the two of you yes, so Beck's not worried
about that. You'd feel pretty muckdover if you got back in your friend was like, oh, Beck, you have to pay me this week. You'd be like, well, I can't. Like that's a stressful position I wouldn't have accepted in the first place. So I feel like, yeah, maybe just going to your friend. Hey, I really like this is why we agreed to the because I genuinely couldn't. Like
that's what's doable. Yeah, and maybe try and work with them as well and be like, is there anything I can help you with in the short term, Like, you know, maybe I could do two payments instead of one, but like that's probably it. So I think just negotiating with them. But when it comes to lending money to friends, I
do it. At the end of the day, I feel like we're in a cost of living crisis, and I feel very privileged that if my friends are stuck in a hard place, they are comfortable enough to share that with me, and I am in the very privileged position
to be able to help. And I love that I'm that type of person that like I just feel like, I don't know, I really like that I can be that person, for my family and for my friends, right, But I always lend money with the idea in my head that I will either lose the money or lose a friend, and I have to be happy with one of those outcomes. Yeah, I don't want to lose my friend. I'd prefer to lose the money, and like, it's on me if I lend it and it doesn't come back.
But if you're not comfortable with either losing the money or losing a friend, you shouldn't be ending money out. Yeah, like, because it's one or the other that you will lose if you're not happy with that. So I'm not saying that you will lose your money and you will lose your friend. Yes, nothing happy. Ideally, nothing happens. You know, they're a friend like Beck who pays it back, you know, as soon as they can, and we don't even talk
about it ever again. But I think that you have to really go well, if I'm willing to do this, I also have to be willing to lose one of those things. Because I don't want to lose my friends. I'd much prefer to lose you know, the five hundred bucks I'd lent them. But I think you need to kind of put yourself in that position, and if you're not willing to lose that cash, you actually can't lend
it out. Yeah, and that would be a okay. Well, maybe we plan a holiday for in twelve months, because a lot of the time these things are yes, you can't go right now. Well why can't we plan it for in the future. You don't necessarily have to miss out completely. But yeah, I think it's an interesting perspective. We did ask the community and we said, would you ever borrow money off a friend for a holiday, and nine percent of you said yes, I would trust my friends,
so it's fine. Ninety one percent of you said no, things could get too messy. We also asked you, do you think this person needs to pay back the money right now? And eight percent of you said yes, Only eight percent of you, So, I think everybody else is sitting on our side of the table where we're like, well, that's so unfair to change the goalposts, because ninety two percent of you said no, they'd agreed on three months time.
You need to stick to it. We then asked, do you think it's okay for the friend to change their agreement and ask for the money back. Ninety three percent of you said no, shouldn't have offered it if she didn't mean it, and then obviously seven percent of you said yes, so money, she can ask for it back whenever she wants, which no, you can't.
I feel like it's not such a simple thing where you're going, oh, like I said, you could borrow my sweater, but actually I want to wear a sweater like it's to me, it's a much bigger thing. And you're lending the money knowing that your friend is in a tight spot financially, like you're offering to help them out of that spot, which is very kind and very well meaning, but the amount of stress that you're then on them
by going ha ha, just kidding. I need it back because I want to move out into this free room. Like as much as it sucks, I feel like the responsible thing from them would be to do would be to pass up the opportunity let your friend payback on the agreed timeline.
And no, agreed, I agree. We did ask for your two cents as always, and you won't be surprised at some of these responses. So someone said, I would never demand money from my friends if it meant that they were going without their basic survival needs, which I think is fair. Someone said, I really wonder if they would have the same feeling if it was a medical emergency, which you brought up before. Someone else said, she can ask her to pay the money back, but if it's
not there to be paid back, then tough. What are you to do where you can pull it from? Doesn't grow on trees? Well, someone else said, and I think this is interesting because this is I guess, in the spirit of open, honest conversations around money. She said she's more than welcome to ask if she can pay it back early. Maybe her friend came into some cash and she wasn't aware, but she did agree on the three months,
which needs to be adhered to if necessary. So like, I think it's actually fair if her friend turned around and you know, now talking this out, I suppose you know, if I borrowed some money from you, Jess, and then Jess, you were like, oh, V do you reckon you could pay it back early? And I went, oh no, sorry, Jess. You might go, oh, no worries. I just thought I'd check because that would have been helpful. Maybe we are just overthinking this and thinking it's a mean thing, or like,
you know, her friend's putting it back on her. Have you had that conversation to be like, oh, look, I really would love to be able to give you that cash holder back, but I just don't have it to give you right now. Maybe it's as simple as a conversation. Yeah, and having open, ongoing conversation about money. Someone else said, never lend anything you can't do without friends. Should have considered pre trip and moving out before giving it away.
Someone said she shouldn't have offered to pay for it if she didn't have an emergency fund. Oh, we love an emergency fund in this house. Someone said, never go into debt for a holiday. Sorry, girl, but you do have to pay up asap.
Asap could still mean three months. Yeah, I feel like as soon as you can.
Yes, I mean I feel like that one's double ended.
Right.
Never go into debt for a holiday I would agree with if you can not do it, but then sorry, girl, got to pay up. No, I don't agree with that. And then there are a whole heap of responses that are very similar to what we've said. So I won't bore you with that, but I think that's all we have time for guys, really going on and on, especially
when I had that rant about superannuation. So I just need you to understand that it's a tax structure, not an investment, and investing inside and outside of super it carries the same risk because they're often the exactly the same thing. It's really passionate, passionate because they just want you doing best. Yeah, understood. All right, Well, I hope you have a really good weekend, guys, and we will see you bright and early on Monday for our money diary,
so it can't wait. Be good bye, guys. Bye. 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 Divine and She's on the Money are
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