Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
the Order Kerni Whaltbury and a waddery woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on a wondery country, acknowledging the elders, the ancestors and the next generation coming through as this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow.
Let's get into it. She's on the Money.
She's on the Money.
Hello, and welcome to She's on the Money, the podcast that makes personal finance fun, especially on Fridays. It is our favorite day of the week this week because we get the team together and celebrate you our incredible She's on the Money community. Today, Miss Jessica Ricci is going to be sharing her favorite money wins. Miss Becks say Ed is going to be sharing her favorite brook tips.
We're going to be helping to answer a juicy money dilemma, which this week is all about whether you have to tell your bank if you move and start renting out your home, and we unpack something that you slid into our DMS about what happens to the money you've already paid when you drop out of the bridal party.
Wedding stars away so juicy.
So we've got a lot of opinions, and if anybody follows me on social media, you already know my opinions. But let's get straight into it. This week we got a few new five star reviews. Miss Beggs say, ed, could you share with us the five star review you picked out to read on the show.
This one comes from Fiona. She says, I absolutely love she has the money, educational, empowering and fun. Is amazing at explaining finance in a non judgmental and very consistent way. The co hosts are so fun and great. If you're not listening, you should be and you won't regret it.
Part Let's be honest. I love that.
I love that. This is just like a boost the team's ego session before we do the Friday episode and I am so here for it. Jess, what have you picked out this week?
I've got one from Chu Kwan who said I found this one incidentally and I'm now hooked onto. It so relatable, very helpful, supportive and informative podcast about money by women for women, presented in a fun and enjoyable format.
I love that we make it's fun, which is something that I never thought I would say, Like, let's be honest, go back like ten years, hey e, you're going to work in finance and you're gonna make it fun. I'd be like, I can't think of anything worse. So thank you anyway, look at us now, now all right, I have one and it is from Fari. So Fari has said I have bingeen to. She's on the Money podcasts for years now, and it keeps me consistently coming back.
Victoria is truly passionate about financial literacy, and every word she utters sounds genuine. It is sometimes unhinged. I love Jessie humor and independent thoughts. Bex liight bulb moments are the cutest. The diversity of the interviews is a very strong point. I'm not ashamed to admit that your podcast and books have changed my life. Fee keep up the great work, ladies, and thank you for your weekly shows. Oh my god, that's a cute, sweet little bold moments.
But it's so true, Like my One of my favorite things about this show is when I'm explaining something in a deep dipe tune, you go, oh, yes, so you get it.
Yeah, yeah, yeah, because.
We all knew that you didn't read the script before we record it, absolutely not.
Was it in your inbox?
Yes? Yes, did you read it? No? But I mean, yollow, you do what you can do.
I just want I just want to hear it from the horse's mouth.
That's that's fair.
That's fair.
And Jess, I mean, someone thinks so funny. I will take you that because I say to you guys all.
You're like, I'm not funny. I can't say funny. I'm not a funny person, so that are always funny. But that just made it. This can be the woman fuzzy, easy guy.
I think it's so funny. And I didn't point out, oh, someone thinks it funny, Jess, because I'm being mean. I'm literally like, Jess always says I'm not funny because I'm always like, why are you so funny? In the background, she'll say stuffy. She's a bit more reserved on the show because she's like, oh, I don't want to seem silly. Jess, just crack her. She is like, she's a silly goose. Yeah,
she actually a silly goose. All right, Jess, what have you got when it comes to money wins and convensions from the community this week?
There were so many good ones this week on the thread. You guys, you should definitely if anyone's listening and it hasn't read it, you should go have a look because I have so many that I screenshoted it. I'm going to like rapid fire.
Right, what have we got?
Firstly, I've got one from Chantelle said money win. Last week, I took up uber each having on the weekends when my kids are with their dad, so it can stop myself from doing the social media doom scroll and get out of the crappy dating scene.
We've been there.
And she said, Plus, I'm saving the money to get my kids to Fiji next year to.
Celebrate me turning forty.
Queen behavior and I love I always forget that you can just pick up like an uber e it's or something like if times are tough, it's not a commitment, right, like you just do it when it.
Suits, And like, how good that you've got some flexibility. I know that like obviously most people don't go into a relationship have a kid with the idea that you'll co parent one day. But like, I love the idea that you're using the time where your kids are away to really help you financially and put you in the best possible position because it means that when your kids with you, you can spend more quality time with them. Like, isn't that cute?
Yeah, chantale. Next, I've got one from Riley who said money win. We did our frozen embryo transfer and paid one nine hundred and eighty five dollars out of pocket, but turns out we got one thousand, six hundred and forty two dollars back thanks to Medicare redates.
Cool, but it really so cheap.
I didn't realize.
I mean, I'm sure there's probably lots of other bits and pieces she had to do and pay. Sure, but that's a great thing from rebates. I didn't realize it was such a significant coverage.
Also sending all of the sticky baby love. Yes, that is a very sticky baby.
One hundred percent.
Next, I've got a money went from Sarah who said, I'm in love with the Stanley Cup aesthetic, but I'm terrible with drink bottles and didn't want to waste the money if I ended up hating it, and she hashtagged I don't even know how to say AUDHD life like AUDHD, life like.
The combo.
Yeah, and also hashtag drink goblin, which made me giggle. You're a drink goblin, aren't you? Jess? Absolutely, I just has her Stanley cup and like it's a full aesthetic like last year for Christmas, Jess bought me because I also have a Stanley cup. Just bought me a little like gadget that goes on the top of my Stanley cup that I can keep my snacks in.
Yeah.
Oh, that's it's really so cute. Not drinking.
Water, she is a hydrated.
But Sarah said she got a dup from kmart.
It was only fifteen dollars and she's in her hot car all day.
She loved it.
It still had icy in it twenty four hours after feeling it. Oh wow, So if you don't feel like dropping what is that like sixty bucks or something on a Stanley more.
Than sixty our Oh and also like we just needed to wait a little bit of time, and then Camart came through with the.
Goods Like I saw those I'm always in Kmart.
I didn't buy it because I was like, I already have one, but I was looking at them. They're identical, except they just don't have the logo, like someone is mass producing them and importing them and like I'm here for it.
Yeah, fifteen dollars, you can't go wrong. Next, I've got money in from Danielle, who said she was preparing for Matt leave and she read a comment on an old Facebook post in a group that said to contact your super fund because they might be able to pause the fees for the period that you're on materially. So she checked in with her super fund and turns out they do, in fact do it. She just needed her work to
do some paperwork for her. But she's really happy because her super was about to crack one hundred K and didn't want to slip back under with fees while she's not with Cool.
So you go. If you're going on Matt Lee.
I love that. Also, maybe start talking to your partner if you have a partner and you're going through the you know, Matt Leave journey, about splitting some super ross into your account so that you don't go backwards. Yes, that could be a very attractive conversation. Absolutely could be funny.
We love to see it.
Next, I've got a money in from Natasha, who said, because it's officially Christmas season, Queen, I've been looking for a big bow to go on my front door.
Which this is a very.
Like this is in your area. But also this is so relevant because Jess, I've been sending you videos of people decorating their houses and putting bows on their doors on every platform. I see this Instagram video, see this TikTok video or YouTube shorts. Hey, Jess, look at this video of people putting bows on things.
Everything in my house will in fact be covered with bows. And Natasha said she originally was looking for the big red door ones you guy's probably seen. They're like forty five to seventy dollars on Amazon, and then she went to the rejection and they had the same style for.
Twenty ducks And you're going to put one on your door?
I think, so front door.
I feel like it's very cute. It is cute too, It's like your house of the present. Yeah, okay, and maybe not, that's maybe not.
What the vibe is.
That's yeah, you like wrap your front door. It's really cute.
I did, in fact put a picture in the group so you can see the Musuman for you.
Oh God like that.
Oh that's very cute. The door is in and it's like chul as well. It looks like one of the really nice ones. It is really expensive. Because I was at Spotlight the other day because I am actually in my like home crafting era. Of course, I didn't realize this was going to come back out because like when I was younger, I used to do a lot of like I was really cool, so just debating, of course,
stating team captain, did athletics, all of those things. But I used to when I was sixteen be really into embroidery, so I'd make lots of things. And now I have a baby and it's coming into Christmas season, I'm like, oh my god, like I want to make him everything. So I'm currently making him a Santa sac and like I'm embroidering a couple of like T shirts for Christmas,
so he's got like little Christmas T shirts. Like I just I have this overwhelming urge to make things for my child and decorate my house more obnoxiously than I ever have before, but chill at spotlight incredibly expensive, so that's actually a really good deal to they go.
I'm exad to see how all your little crafties turn out. I can't wait.
She'll come over because like my partner doesn't care that much about putting the Christmas right exactly exactly. So again my fill in partner just comes over, yes, and we drink cocktails, festive cocktails. Listen, what did we have last year? We had cranberry? There was something red. Yeah, we had cranberry, I think Martini's or something. And we played Christmas music and we put my tree up and we danced with our cat or sorry, my cats, her cat kind of
and we addressed the pets up. And then my husband came home and was like what are you two doing?
And we were like, get out, get out, I can't wait.
We looked at him like, you know, stunned DearS, being like, what have you.
Come across.
Alpha?
Oh my god, that's so cute.
I have two more money been sorry.
One from Leah who said she's been saving her Flyboys points for a new barbecue and she claimed it yesterday. So she had a whole barbecue from Bunnings because she exchanged the points for Bunnings vouchers picked it up. It's like a big fancy one. Look, we love a photo.
I love a photo like I feel like pet Taxi is really good. Obviously that will continue to be a rule in our group. But also show me what you have to it feels like group chat. Yeah, oh you got a new barbecue. I want to see it.
Don't just tell me you too, So redeem those points if you can, and lotstly coming into Christmas, maybe you could try and redeem some points at Christmas.
Time to use for presents.
They'd dealt with cards and stuff, which I think makes it a lot easier. Lastly, this week, I've got my name from Kerry, which I'm going to look into this because I'm doing.
This, She said.
She downgraded her Apple iCloud subscription.
Which is normally fourteen ninety nine, which is I know what I pay to five dollars. She said, I took screenshots because the whole process was difficult to downgrade, and she thinks this is intentional to make it like hard cool to get it cheaper. Yes, and then apparently they charged at the old price and she had to email them to say hey, like I dowbn it. It was a whole thing, but they canceled it. They issued the refund, and she says, if you adjust your pricing for the year.
She managed to resubscribe to the one ninety nine a month, so she only pays like twenty four.
Bucks for the hour instead of one hundred and eighty. Oh that's great, so good. That's worthy saving the muck around shouldn't exist, but that is worth putting the work in.
Absolutely, And yeah, Kerry said, just wanted to let everyone know. Check your subscription, see if you can downgrade.
So everybody this weekend, that's what we're all doing.
That's what we're all doing. And we're canceling out our Netflix or our stand that we don't actually use.
I can always go to seven ninety nine.
Version. And I am so mad that they are charging many If you're having ads on your show, your show should be free.
Yeah, well love it.
Wh I'll be watching Free to Wear? Is it less frequent than TV ads?
Yes, that's the thing. It's actually not that bad. Yeah, it's also like one ad every movie.
Sorry. Yeah, and it's also because we're in Australia, so like not that many advertisers. No, not that many advertisers have got Netflix advertising yet. And obviously if you're like a Telco company, we're not going to have a T and TB advertised here. So like in America, I've heard when I say I've heard I've watched a TikTok, we all do that, right, Like, oh my god, I was reading something the other day. No, Victoria, you're on TikTok.
You just chronically online and you're trying to downplay that. I was watching TikTok's about how the American Netflix is really addy, but ours kind of gotten away a little bit.
It's got free for now. Take absolutely like that Jess or that job.
But there you go.
Jess is going to update her Christmas door, She's going to look into her fly Bys points, she's going to downgrade her Apple like do you start driving? Like, I feel like there's so much genuinely and thinking about it.
That's a fantastic idea.
I feel like this was a very ess list of the Stanley Cup. Like, honestly, Beck, what have you got when it comes to broke tips?
Okay, just really quickly on the subscription thing. If anyone's listening could tell me, I have a one dollar forty nine charge from Apple that constantly comes out. No matter if I create a new account, I don't still have it Apple anything.
You have a MacBook, You have a MacBook that's a work one.
Dragon that still counts.
I don't know every single account I've ever created without putting any details in an Apple charge.
I don't know how it's happening. But anyway, if anyone is listening and knows the answer.
We don't know the You know what you could do? Email Apple?
Oh you know, I don't really like life.
You know what?
You ask one point eight million people on the Sheet's on the Money podcast instead of one email to someone who actually knows.
You, do you boom?
But I'll try.
I'll try.
Okay, So this first one comes from one of our listeners and they send me a TikTok. That's basically, you know, if you have like any some resource, yes, you know, have different ones for that you can propagate. There's ways to like make it last longer. Yeah, papagating herbs at the moment. Yeah, I think it's a fantastic idea. You can deal it with basically any anything that comes from the ground right atree.
Also sorry, sidetrack completely. I am in my local Facebook group for my postcode, which is obviously very niche I know, you you know, like I mean, people the other day were posting where are herbs and they were like, on on Berkley Street there are a few, you know, rosemary bushes and whatnot. Check your Facebook group and if the Facebook group doesn't have it, ask because so many people have like free herb in their front garden and coming up to Christmas, don't spend four dollars on a packet
of rosemary. Yes, like we all know that you're probably going to need to because your last minute, but have a look around, have a forage, have a forage. Yeah, it's actually fantastic.
Do you know what my best hip is?
What if you're going to pick the rosemary? Are you going to pick any type of herb that has been like free range?
Is that the right word?
Like, I don't know, you know, just make sure.
It's above dog pea heights. Fantastic. It's a great point. It's a great point.
And like dude, yeah, like drunken male, yes, yeah, like above whiz level.
So that's my tip for today. Sorry for the side tracking, but yes, propagate your plants.
That's actually a great one, and check your yes, check your local community page if you have one, if you're part of one, and.
If you're going to do sorry, I'm a plants lady as well embroidery plants lady. I'm just in a wholesome error. Yeah, anyway, it's so cute.
Thank you.
If you get mint, you just strip off the bottom leaves and chuck it in a cup of water.
That's it.
Yeah, yeah, that's and mine already have little tentacles.
There you go.
They're called roots, but tentacles.
They do look a bit spooky for the first few months. But okay, so this one is similar to that. But the TikTok showed someone putting a bunch of herbs in like a little mason jar with water, and then putting a larger mason.
Jar on top.
And then this doesn't make sense right now, but you put the lid on the bench, you put the little mason jar on top of the lid and with water with the bunch, and then you put the bigger mason jar on top. You screw it together so like a snow globe exactly, so it's like air tight sealed and Mason jar to make it last longer. I think in the fridge or whatever. Your herbs in the fridge and it dies. Honestly, that sounds so complicated that I prefer my homes.
Prob I've made it sound way, way, way more. But that's a good tip. What's your next one?
Okay, the next one come from actually a friend of mine who I do this too. I know it's a bit cheeky, but if you're going away, if you're going to like stay to hotel or go into a restaurant.
Called the tiny toilet trees, you can take the tiny toiletrees. Your bags full of them from every time. I basically just please chip.
It up side into my luggage if you're not allowed. That's honestly, if you're not taking the tiny toilet trees when you stay out a hotel, No, you're not taking the tiny toilet trees. You probably live a far more privileged life than any of us at AH, but you need the tiny toilet trees.
You've never had to buy an ail file or a shower cap, true, I mean yeah, I guess they just throw them out.
Sometimes I feel so bougie when I steal the toothbrushes because then if I have friends stay over, I'm like toothbrush.
Yeah, that's a flex. When you're like, oh, I actually have a speared tooth.
Yeah, and it's like a hotel one and you get it in the box and you get the tiny toothpaste.
Oh my god, you got your life together exactly.
Of course, I'm meant thief.
But on the set in the same vein as that kind of thing.
I think, if you're going to yet to a restaurant or a hotel whatever, if you mentioned that it's like an anniversary or a birthday, things like that or whatever it is you.
I mean, this has happened to me a couple of times.
Okay, yes, we walked into me and my best friendly have stated the soft tail for no reason. We just had a bunch of money one day and were like, let's just go crazy as we say the soft tail. We told them that we were dating into our anniversary. We got bottle of champagne. We got macaroons, macaroons that we call them all macaroons and macarons, the circle caron French ones, and the macaroons they actually coconut based.
Oh that's try it, yes not, They're delicious.
Coconut ones, the other ones and.
Macaroon.
Oh well, now that's as hurting macaron.
Everyone's already stopped listening.
By guys. If you're still here, thank you so much.
But yeah, I just I'll just say, you know, throw it in there, just say it's an anniversary, a birthday.
Will see whatever.
Just remember if you go to the same place multiple times, they might put like a note on your file.
So that's true.
Yes, just switch up your hotels and hotels all the time for the free champagne. You're probably can afford the shit pain. True, that's true.
That's true.
So maybe if you have enough money to be going to these places, don't be doing it.
Just kidding you can still.
But also I find it low key embarrassing at restaurants if they know it's my birthday and they come across. So like, if anybody goes to lunch with me and it's my birthday, I will actually find you and I will harm you.
I love it everyone. It looks like everyone's attention. For a second.
I was at dinner the other night celebrating our actual like my wedding anniversary with my husband a couple of weeks ago, and it happened to a table like they were having a birthday, and like the waiters were like clapping in the air, and all the other tables got involve, don't. I just had secondhand embarrassment. I was like, I'm so glad that when we booked we didn't tell anybody why we were coming. And when they when they were like, oh,
are you celebrating anything special? When we walked in, I was like, Nahn't we just come here all the time with my brother. Yeah, we're coming for a pub.
Yeah, yeah, exactly what's yours mind's bit of it like a money win but also like a broke tip, but it's it's kind of common knowledge anyway. So I bought these like sashets sashets from woods. You can also get really good ones Frowndy. You know, there's like cappuccino ones minimal like minimal sugar, like if not you know, with sugar personally, but if you're like conscious of that and we can't get the ones, it's just like a little bit milky, a little bit coffee, you know, just they're.
Full of like palm oil. But you just don't think about it too. I don't know, but I just start out of mind. Yeah, exactly, like they're good for the.
Soul, totally, totally, but I would say, yeah, if you can, hopefully you can find an ethical one that's sourced.
Oh no, no, no, I doesn't even talk about ethics. I'm talking about you're healthier to fix, sure, but like they're probably just full of trash.
Hey, that's okay.
Basically what I do is I every time I make myself one of those, I put my soy milk.
I got those little like you know, there's one dollar like the buzzers.
Yeah, the buzz of those. That's exactly how I do it.
Too, Yes, and you just froth your your milk like that and it actually turns out pretty similar. So every time I do that, because it's like ten pack for five bucks, it's get they often go on sale. They do often go on sale, and they actually taste really delicious.
My favorite is I think it's is it Nest Cafe, but they have a milky bar one, so it's coffee. I told you I don't pick the healthy ones, butter delicious. That doesn't sound good.
Yeah, that just sounds great.
So yeah, you just make Basically every time I make one of those I would usually have spent six dollars fifty on my coffee.
That's how much my coffee is.
Because you get the large, boy, I do get a large and soy milk. So every time I do that, instead of paying for the coffee, I transfer that exact amount to Sa Genieah. Right now have nothing because I have depleted that account again. But but the money was there to deplete exactly exactly, so you.
Don't think about it because you're just buying coffees and that money's gone. Now has to say things account you're saying sorry.
Sorry, have you been playing with your budget in cash flow?
It's a little bit, you know, nothing to ride home out at the moment, but it exists.
It exists now, Yeah, I'm so proud of.
Yeah, if you'll be thank you so much. Doesn't feel good, it feels really good.
Looks like sometimes it's thirteen bucks in there, but that's still more than enough for me.
That is so much more than you didn't have exactly, And.
I feel like so many people like, what's the point. And it's like even if over a year, like let's be honest, times are freaking tough. Even if every year you end up with like fifty bucks in that account bill pops up like you have cash instead of having to rely on debt, like and it feels good knowing that there's some money sitting to the.
Side, exactly, lean on exactly. It's a good feeling. Yes, that's me. I love this for you, so so much, so much.
All right, let's go to a really quick break because on the flip side, I'm really excited to talk about this. First, we're going to be talking about whether you need to tell your bank if you move and start renting out your home, which is very relevant because I talk about purchasing homes all the time. But then something a little bit spicy that you split into our dms about this week, we're going to be asking what happens to the money you've already paid when you drop out of the bridal party.
I'm going to need to know why you dropped out of the bridal party. That's just so much there, All right, guys, don't go anywhere.
Welcome back everyone.
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 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, team, My money dilemma is that I'm thinking of renting out the property that I've lived in and owned for six years while I go work into state for one or two years. But does this mean I have to change my home loan to an investment loan? They often have high interest rates. I plan on returning to the property and living it and again in one to two years. Just wasn't really sure if I have to tell my bank if I rent out my property for a short time.
Thanks, I'm going to be so for real.
I didn't even know that investor loans were a thing, much less what the difference is or what you do with them.
So handle this one straight.
Well, Jess, you wouldn't know that because the process that you're going through, and when you sat down with one of the Zella money brokers, they would have said what do you want? And you said, I want to purchase my own home, and they would have said, do you plan a living in the property, and you would have said, absolutely, I do. I'm very excited. So they would have gone down the root of what's called an owner occupy a loan, and those usually carry lower interest rates than an investment
property loan. And there's a number of different reasons for this. Obviously, the risk is higher when it's an investment because it's not your family home, more likely to be like damaged or whatnot. But then also you're able to claim an investment on tasks of course, right, so the bankers I won't say they're taking advantage, but like, I don't like
that they're different, but they are very different. In fact, there's been a few times, and this is why you have to be really honest with your broker when you know a broker has been applying for an owner OC loan, so they've been applying for the loan where you're going to live in the property, and then the client's like, yeah, yeah, I'm going to rent it out, and their broker's like, ah, I can't legally sign you up to this because once
your broker knows some information, they can't not do anything about it. Like we are you know, at the end of the day, ethical and moral and like we can't lie on your behalf to a bank, like we don't want to lose our license even if you're like, but I just want the only OK loan because it'll be lower interest rate, Like I get that, But also the investment is what lines you up so too long didn't read. Yes, you do need to tell your bank that you're moving.
It's actually in your terms and conditions of the line that you have with your bank. Yeah, there are a.
Heap of them.
So when you sign up, you'll get all your banking docs and in that it will say if you move, you need to tell us. Also, did you know you need to tell your bank if you're renovating. Really, yeah,
you need to tell your bank. But like they technically own your property, Jess, Like they're the ones that have looked at your property and gone, hey, Jess, we are going to lend some money to you to purchase this particular property and they're putting a security over that property that if hypothetically Jess wasn't funny anymore and she left, She's on the money and she lost a job, like they could sell the property and make their money, but
if you bulldoze the bloody house, yeah it's worthless. So they don't want you to do that without approval. So this is where reading your terms and conditions is really important because it will say in your terms and conditions that you need to keep the bank aware of this any changes. Even if you go, oh, it's only small and just redoing the bathrooms, bank needs to note they're not going to care that much. But also it'll probably add to the value, so it's not a bad thing.
But if you're moving out, you do need to talk to somebody. I have heard stories is because I like live on oz finance on Reddit where someone was literally dabbed in by a friend to their bank.
Isn't the dodge that's so many?
Exactly so bad? They were dubbed in by their friend who called the bank and said, did you know that Jess has moved out of the property and is no longer owner? Ok, and the bank just changed their loan without any conversation, without any permission, up to a higher interest rate and moved them over to an investment loan as opposed to an owner OK loan, And like I was like through.
Do they didn't even check to make sure this is mine?
I know anyway, I just thought that's obviously one dog of your friend to tell you in that is not a friend indeed. But also I didn't realize that they took it as seriously, Whereas we've dealt with clients who are like, oh, V, because obviously I own a mortgage breaking company r V, We're going to move out of the property and do X Y Z, and it's fine. We've called the bank on their behalf, and some banks are like, oh, what's their plan. Oh, they're moving back
in in six months. They're just moving. The bank's like, don't worry, we've put it on file. They're not going to change it because they're going to be moving back in. But it's a conversation to have with your your lender, because at the end of the day, it's all about risk. It's all about making sure that you're doing the right thing. And they could actually be like, hey, we're no longer going to lend to you, so you need to sell up the property. Oh scary really what they found out.
If they found out, they could absolutely take action. At the end of the day, if you're renting out your home while paying it off. It has to be an investment loan back. It's not sexy, it's not nice because obviously it's a higher interest rate. But if you do decide while you are living in your home to rent out your home and go from an owner occupy alone, you're probably going to need to refinance. And if you lie, there are some pretty serious consequences. I mean, they'll give
you warning. But one of the examples when I was looking into some terms and conditions is that the bank, this bank that I looked into not naming and shaming, the bank said you've got thirty days to pay off the balance that is owing, at which point the lender might sell the property to recoup the money. With that,
it feels aggressive, so it can be really aggressive. But it's really important to understand that guys, it's twenty twenty four and data matching and whatnot exists, and the bank will report to the ATO because the ATO is going to care about what you're claiming. Right, So if you move out of your property, you're probably thinking it's an investment.
Now I'm going to be able to claim a heap of expenses, and you're claiming in things, but then the bank finds out that you're not actually paying the right loan. You could be found out, so it's not like they aren't on top of it. And banks and lenders all have their own processes for checking on whether you are actually an owner occupier, and banks are going to have their own processes for checking if you are an owner occupier or not, so they might check if you live
at the property for the majority of the year. They might have a look at your documentation, so they might request a tax return and see that your tax return or your driver's license doesn't have that address on it, it has the house that you live in. Or they might see someone apply for a loan and go that address is Jess's house, Ah, what's going on there? Did two families live at that address? And then you go, no, no, no,
we're renting it off Jess. So I think it's really important to just be on top of it and be truthful. It doesn't mean that the bank is going to charge you through your nose, but it could also be something that you call the bank and ask them, Hey, what happen if I moved out? Hypothetically it's the process, but also that should be a part of your decision making process if you are planning on taking like a job out of state or something, to make sure that you're
not financially putting yourself behind. Yeah, totally. Anyway, I know you guys are shocked by that, But nothing to add for me except I had no idea that that was a thing.
You're like, that's crazy, Yeah, filing that away for later.
The only thing I want add is, I'm assuming this makes rental prices higher than the maybe should be for because of the.
Higher cost and a loan exactly.
Well, yeah, and that's something to take into consideration as well. And I mean there's a lot of conversation about being an ethical landlord, and like there's a very big push when it comes to people who are purchasing property right and you hear it on money daries where they're like, oh, I have a positively gid property where the amount of money that they earn from their property in rent actually
covers all of the mortgage. And that's really attractive. But if cost of living happens and your interest rate increases but you're hasn't increased, that's why a lot of landlords would then turn around and be like, hey, Beck, I'm going to increase your rent because they don't want to be financially out for it. And I think at some point you need to be an ethical landlord and say, hey, I took this on as an investment, and one of the risks was that at some point I would have
to tip in some of my own money. It's actually not Bex or Jess's responsibility to pay more on my mortgage just because the bank's now charging me more, like I think you should be charged market value. But that's probably a whole damn podcast in itself. Sure true, just got served a notice oft again it's been a year. Oh, I feel like time does fly when you're having fun, doesn't it?
How much thirty bucks a week?
Yeah?
Like an actually thirty bucks a week?
Because when I first art, I was like, oh, thirty box month, that's not so bad.
Like obviously you're taking the meeky week. So it's literally like another hundred bucks a month.
Be for real.
You can't even get brunch these days for thirty dollars a week?
Yeah?
Crazy?
Hey that for me?
All right, well, are.
You ready to stop this conversation and go into our spicyd Absolutely all right, So here's the damn we received. Hi, she's on the money team. I would love to hear your thoughts on this. I was part of a bridal party, and four months out from the wedding, due to personal reasons, I decided I could no longer fulfill this role. I had transferred my share of the payment for accommodation for a Hens weekend and was told I wouldn't receive this
back upon deciding to no longer go. However, the Hen's party has just gone and I've seen that they didn't stay at the apartment we had booked, and I thought we paid for. The accommodation provider's websites state that they don't take prepayment and provides a full refund up until a week prior to the booking. It doesn't seem right that they used my money to book and or pay for something else. Is it reasonable to want my share of the payment back? Thanks.
I don't like it. I don't like it. I don't like it. It feels very icky.
It feels like it just got worse as I read it out, didn't I yeah.
Seriously did.
Because it's like, let's ignore the fact that maybe someone somewhere must have lied about it, the pre payment situation.
Ew.
But like someone's idea is that like, oh, he's a pool of money, and with this pool of money, we will either you know, book this really fancy hotel or whatever. It's like, that's not actually how it is working. It's like everyone's paying their own kind of slice of the pie. And if the pie is now smaller, then because I'm assuming that someone collected all the money for say ten people, and then one person pulls out and like, oh cool, we have the money for ten, but we now just
have to divide it by nine, you know. And it's like that I understand if you couldn't get your money back, you still have to stay at the same place. But they've taken that money, not even considered the person who has to drop out, probably for some good reason, I assume, and it's like, thank you so much for giving us a little bit more, We're going to go here instead, and now we just have a little bit more cash to splash. I just think that's really really mean and that's not actually how it works.
Yeah, And I mean, I'm so interested in why you drop down, But I have a sninky suspicion because you have terrible friends.
Yes, and it's and it's it's just like a big fight. It sounds really mean me I meant it.
Yeah, just what do you think?
I agree?
I think like, as you said, back, if they hadn't been able to get the money back and you had pulled out, I think that like you've already committed. I don't think it's reasonable to ask the money back because then people have.
To cover you.
But the fact that they changed the venue, unless they had already changed the venue ahead of time and she didn't know, I don't know it Just yeah, I agree. I think that it's a bit icky that they had maybe the flexibility and didn't give it back because as you said, like, theoretically you're covering x amount of rooms. Everyone's put in an x amount to cover X amount of rooms, and you need one less room.
We all know, I was about to say, we all know, on like a bridal trip, people are sharing rooms or getting apartments that you know, oh, one of us will sleep on the couch, Like, I don't know. I'm not justifying it because I think that she should have got her money back, But I think that her friends might see it a little bit differently, that they were like, oh, well, when this person was involved, we you know, let everybody know we could have this type of accommodation. But now
they've pulled out, we would have to change it. So we're going to keep their part of the budgeting.
Like I could see maybe as as we like talking about it, maybe like if you had two girls to every room, for example, yeah, like and then you go, okay, well, one girl's going to have a single room.
Because she shouldn't have charge her more because she just has someone.
But then if she pays the same amount as everyone else, is everyone else going to be pissed off because she's got a single room but they're all paying the same amount. Like I can see how it does get a little bit messy. Ultimately, I think like it's probably a conversation that they should have had with you, Like they should have said, hey, like X y Z, we already allocated, like we've pre booked a different hotel, or you know, we're going to have to charge someone double or whatever.
At least had the conversation. I think you're well within your rights to ask it back or to at least raise it and say, hey, like you know, I understood that if it was non refundable, Like I was never going to ask for that money back, but doubt it was refundable, So like, is there a chance for that money to come? I think that's a very reasonable conversation to have.
I would put together a nice message and basically ask that, I think on the flip side as well as somebody who has had to I wasn't in the bridal party, but I had to pull out of a Hen's party because I was really pregnant. And it is back when I had so I had like preclampsy when I was pregnant, right, So my entire day, every single day when I was pregnant,
was really dictated by my blood pressure. So I would wake up and I would do my blood pressure, and if I did my blood pressure that day, and it was often one eighty over like one ten, which was cooked, I'd have to go into the hospital and like deal with it. It was actually the biggest shit show, remember, Jess. Like it was very it was like, oh hey, Jess, sorry, I was about to come into recording. Now I can't come into recording because I have to go to the hospital.
Or like the flip side, where it was like really high and my doctor would say, if it's this level, you actually just have to stay in bed that day, like not moving. And then some other days my blood pressure was fine and I'd be like, Jess, it's on. Should we be like some more podcasts out right? So
like every day was different. But I remember having to literally pull out the day of a Hen's party and be like, hey, really sorry, I can't come when I was like thirty eight weeks pregnant, so I was pushing it already, but can't come. Would have loved to come, but I'm not allowed. And at that point, I just knew that that was a cost that the entire time
I might lose, but I wanted to be involved. And I wonder if at this point when you paid, that's the cost of now missing out, Like that you paid that, yes, you had to pull out, but like is that a just a lost cause?
Like I don't know, Like go to other things too, Like if there's a dinner or an activity like a you know, flower crowd making or perfume making or whatever you're doing, like has something else been paid for?
And shout out to the person that has to organize the henscript chat and like collect payments because that's hard because you're right, there might not have been any prepayment, so like you might be on the website and it might say, oh, you can have a complete one hundred percent fun. But like I have been the person that has organized a hens before and I'm like, okay, cool, so drinks and food are going to be this, and we'll make sure that we have you know, pre drinks
at the hotel, and then there's like some accommodation. Okay, guys, it's two hundred and fifty dollars ahead. I don't have At the time, I didn't have the budget to cover all of that. So before I booked in anything, I was asking all the girls, can you just transfer me the cash because like, this is how much I need? And then I would go and book everything out, like and that is what.
If I went the other way?
Yeah, what if someone didn't transfer and you had to cover it? Yeah, which always happens. Like just if you commit to doing something, just transfer the cash I get it, or have an open conversation and be like, hey, v I really want to be involved, but I don't have two hundred and fifty bucks. But the events in December, is there any way I can like pay you off
over time or like what can I do? And at that point I might be like, oh, don't worry, girlfriend, I only need to lock in the accommodation and like that's not the full amount, so like just transfer what you can and we'll like work it. Like we'll work it out. But so many people go like stone cold
silent and don't have these money. Is awkward, but like have the conversation because I can promise someone coming to me and being like, hey, b I don't have the two fifty or whatever it has been decided is the amount, but I'll get it to you on this date or I'll do it. I don't care, Like I'll work it out. But like if you just go radio signed and how awkward it is to follow you up. I hate that. Don't do that to people.
Yeah, so it sounds like our listener did the right thing, like they let them know early. But it just maybe it was a failure of the friends to have the communication that they need to have. So I think you ask for it back and see what happens. But so we asked the community, do you think it's fair for the group to keep her money? Seventy three percent of you said no, she's owed her money back. I kind of agree.
I was trying to play Devil's advocate and like be like, oh, but what if, And then twenty seven percent of you said, yep, she stepped down, it's a sunk cost. The next question I asked was, would you ask for a refund if you were in her shoes? Sixty seven percent of you said absolutely, they changed plans, and thirty three percent of you said no, just take it as a loss and
move on. I would always ask for a refund. I feel like always if you don't ask, you don't care exactly, and if you're kind about it, like, hey, I know I pulled out. I'm hoping this hasn't like financially impacted anybody. But I was wondering, given you know, and give them a little bit of invoke, so like you know that the way, like the hotel was refundable. Yeah, I know
the hotel's refundable. So I was just wondering if I could get you know, the money I transferred you back, Like if they say no, you are well within your rights to say, hey, I'd love to understand a bit
more about like why, like where is it gone? Like surely it's just sitting in your account because they don't charge you until you check in, like have that conversation because you might learn, oh, well, actually you transferred one hundred dollars and the accommodation per head was actually fifty and I've spent another fifty on the entertainment and the food and the drill, like and that's been and that's been painful, and like now we're going to have to
like spread your cost across the other girls. And I don't feel like it's fair to charge Jess and beck more like do you know what I mean? Like they could explain it, and you go, oh, actually, that makes a lot of sense for having a chat totally.
And when you can see that there's there's a good reason for it, cause I'm sure that this other person has like valid points, it makes you just feel better knowing like, oh, okay, I have lost that money, but now I understand why.
But at least I don't feel like I've been taken advantage of. Yeah, maybe I give you like.
The hotel portion like in that example, I can give you like the room for portion back, but not the food that you know they couldn't refund or whatever one hundred percent.
And I guess there's a good reminder that before booking in anything for Hen's parties or group things like, have in the group chat a conversation about budget. It can feel awkward bringing it up, but be like, hey, guys, we want to do like a weekend for Jess because she's getting married. I don't even think just wants to get married, but like hypothetically we're having a weekend for Jess. Yeah, and I just want to know, like, what what budget would you be happy to allocate to this? And some
people we've done I've done this before. Reply and be like, hey, I have one hundred dollars that I could allocate. But if you guys did like a house thing, I wouldn't have to stay, Like I'd go home that night, and like ask people because like they might have kids, or they might have different plans, or they might not want to do or sleepover. So that you can get a guys on like okay, cool, Well you know twenty people
will come, but six of those people actually want accommodation. Yeah, so that you're not fighting off more than you can chew and charging people for more, do you know what I mean? Yeah, very true. Anyway, we did go to the community and said what is your two cents? And I have a lot of different opinions to share with you guys. So first person said what they did sucks, but I'd be burying the hatchet and keep a map
of where you leave it as pertata. Someone else said, what bride's expect of others to spend for their wedding is too much? It's just a day, and it's this good point.
I don't want to say too much here, but I agree.
I don't think that we should be spending any money on someone else's I get it sometimes.
Right, I agree. So I'm a bit spicy and I have been crucified for this, but none of my bride'smaids paid for a thing, and that's very entitled because obviously I had the budget for it. But I was very much of the opinion, as was my husband, that we didn't want to get married until we were in a financial position where I didn't make my wedding a financial
burden on somebody else. Yeah, and potentially that's you know, because I'm in finance and I talk about it all the time, and you hear these things, and we have these conversations. But like I just remember being like bridesmaid's dresses I will be paying for because it's the dress I want you to wear. And again being a little bit spicy, you're a bit delusional if you think you're going to pick a matching bridesmaid's dress and then try
and convince Jess. Don't worry, babe, Like, if you spend four hundred dollars on dress, you'll probably wear it again.
You can just hammet and wear it again.
Nobody's gonna hamm it and wear it again. Nobody, like nobody. Yeah, anyway, I've just got a lot of opinions about this, but I was very much of the opinion that my wedding day shouldn't put a financial burden on other people. Yeah, and so we've paid for everything. Does that mean that I think everyone should do that? No, because everybody has different budgets. But I think everybody should have open, honest
conversations about that. Like if I was to ask you Beck to be my bridesmaid, we should be having a bit of a conversation up front, like, oh my god, you want to be my bridesmaid, and you go, I'd love that, But like, also, what are the expectations totally.
I think got the money for bridesmaids.
Yeah, exactly. But if I said, hey, Beck, I'd love you to be my bridesmaid, by the way, I wouldn't ever want this to be a financial burden on you. I'll be covering everything.
You might go, oh, okay, I would.
Actually love that, Like I would love to be involved, Like, thanks for thinking of me. But you're right, Beck, it's not your day. Why are you paying so much? We're in a cost of living crisis. We are all worried about groceries, We're worried about our electrical bills, and then all of a sudden, your mate's getting married and a three hundred dollars dress seems to be reasonable to ask you to purchase. I know, stressful, you need matching shoes, like I have a pair of new shoes. Why can't
I just wag anyway, It's like a whole conversation. I just obviously I am a little bit heated about it.
Back, I completely get it.
More comments from the community. One person said, if they stayed at the original accommodation, she would have had to take the loss, but they didn't, so she should get her money back. Someone else said, there's never any harm in asking. That's what VD would say. If they say no, I'd take it.
Yeah.
Someone else said, people are real weird about Hens. You'd need to be willing to lose a friendship or the money. They do seem like they can be a dramatic sometimes, don't they. Yeah, it's actually terrifying. Someone else said, I wouldn't let the money in this instance come between what I assume is a close relationship. But also where's the goss? Like why don't we know why? I know you said personal reasons, but like, girl, it was anonymous, I need to know.
I need to know it's a message.
Yeah, like we need to know. Someone else said people kept pulling out of my hands and it got super frustrating and hard. Oh I can understand that. I totally get that.
Good perspective.
I totally get that. And if you've already paid and then people are pulling out of the Hens party because you've probably allocated the budget, but we're talking about bride or party, like one of your bridesmaids has left, and if that kept happening to you, I'm so sorry.
Yeah, that would be really hard.
I like three bridesmaids. Can you imagine if people kept pulling out and would have had nothing, and someone else said, and we'll leave it here. It's not fair on the other bridesmaids to absorb the extra cost from her pulling out.
Yeah, it's a bit of a push and pull, isn't it.
Like you've got to you got to kind of figure out what happened, why it happened, where the money did go.
And you know, I think that will probably inform whether or not some of it can come back. But I think just yeah, have the conversation. I'm not what's the worst they can say, no, exactly, exactly, that's so true. I think with that, let's take this conversation offline. Let's go buy a six dollar fifty coffee and talk about
a real thought about people paying for hens parties. Yeah, all right, guys, have a good Friday, and we hope you enjoy the weekend and we will see you bright early on Monday for a money diary by guys.
Bye.
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