Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
the Order KERNI Whoalbury and a waddery woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on a wondery country, acknowledging the elders, the ancestors and the next generation coming through as this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow.
Let's get into it. She's on the Money.
She's on the Money.
Hello, and welcome to She's on the Money, the podcast for millennials who want financial freedom. My friends, today is Friday again, which means it is time to get my beautiful team together and celebrate you ow incredible. She's on the Money community today, missus J Grig is going to be sharing her favorite money wins from our community. Beck has a few sneaky broke tips. I don't have anything to contribute this week. I'm so sorry, Beck, Okay, I
ran out. There was one and done last week. We'll be helping to answer a juicy money dilemma, which this week is all about asking your partner to make stubranuation contributions while you're on parental leave, which I think is real less bussy because I don't know if you guys know, but I'm pregnant and I have had this conversation with my husband, So it's been interesting seeing both sides of
the coin. Like, obviously, as a staunch feminist advocate, I want everybody to be thinking about their superannuation when they take any type of leave from the workplace. But now I'm the one also sitting down going, hey, husband, what are we doing about this super thing? Because like, I'm
not going to be happy if I'm behind of all people. Anyway, We're also going to be unpacking something that you slid into our DMS about which this week, get this, we're going to be talking about a potentially deceptive friend and a missing sum of cash.
Spicy ye, so juicy.
I love it all? Right, guys, how have your weeks been before we get into the episode and before we get to the juicy stuff.
I don't know, maybe you have had juicy weeks.
You go first, Jess.
Technically we've been to the podcast awards, but because of time travel, we haven't been to the podcast yet, so.
We're going tonight. We're up for a couple of awards, which is so exciting actually.
So nice, Like, obviously, awards don't mean anything.
I'm sorry, what they mean a lot to my little ego.
When someone recognizes, I guess, the hard work that you do, it's just like so lovely because you know, obviously we have had a few awards, and recently we were finalists in the Telstra Best of Business Awards, which for me was massive and while we didn't take away the win, I was just we got the certificate in the mail of like Queer a.
Finalist, and I was just like, this just means we're on the right track and we're doing the right things, and people like the right people are seeing our content and saying the stuff that you're doing is having an impact because obviously there's heaps of podcasts around and the idea that our podcast actually gets recognized to me is wild. Yeah, but also it's just really validating because I think I'm
doing the right thing. And I'll sit in this room and I promise you guys will be like yeahvy, yeah, yeah, we're so good at the right thing. But to have an external party, go, hey, guys, that's pretty impressive. You just go you serious. So whether we win or tonight, I kind of don't mind. It's just being in that lineup of like, hey, look at all these other podcasts
that we're up against. Yeah, because like the category we're up in, we're up against our friend Glenn James, who I adore and I think his podcast will be very hard to beat. But then you know who else is in the category, Mark Boris. Yeah, I don't know how she's on the money when it comes to being a good business podcast. She's going to beat Mark Boris. So yeah, I'll probably be eating some humble pie later this week. But I'm just excited to be, you know, in the lineup with the big dogs.
Yeah, very really very exciting. Yes, technically we have been, but I don't know yet if we I feel like we had a fun time. Yeah, when we go, we have another time, we have a fun time tonight. But yeah, the week's been so good. It's just been sure, it's been busy. Best friend's birthday on Wednesday?
Was my birthday? What are you talking about?
It was your birthday on Wednesday? I think you forgot friend, I get it, but no, just real, chill, real, nice, well again, busy, busy and good and what are you good?
I did nothing, it was amazing, spent some time with friends and family, took my dog for a lot of walks.
She was very happy.
I feel at the moment my favorite thing ever is literally doing nothing on my weekends.
Like it's wild. It's absolutely why.
I don't recover.
Yeah, this time of year, there's nothing I like more than a quiet weekend.
Yeah, I've been spending a lot of time, just like on TikTok watching Christmas videos. Real question, though, this isn't an attack on New Jess, because you love Christmas. You adore Christmas, and I know how you manage it, like you always like add a few decorations to a pre existing stash. But I've seen this year, specifically on TikTok and Instagram videos, people being like here's my Christmas hall and then they're spending like my entire Christmas gift budget
or like redecorating their entire house. Whereas I've grown up in a house where like the same Christmas decorations have been coming out for like the last thirty years, of my life is that like we meant to be like redecorating an entire tree and having a brand new theme.
Jess is excluded from me.
She can answer the question, but she's a Christmas girlie, But like does it on a budget. But I feel like I am seeing every influencer being like, here's my pottery barn hall and I bought two pottery barn pillows recently for Christmas because I was upset and I basically had to re mortgage my entire house. So like, where are these women getting the money for the Christmas decorations?
Yeah, that's successive.
Hey, Lots of people are saying that this time of year, Christmas Black Friday this year particularly, is feeling really consumer driven, like very bye bye bye sales sale, like it started earlier than normal, And like, I have no issues with that because, as you said, I love Christmas.
I will celebrate it for three months. I was, I don't see this as a personal day. I just want to talk about this content.
No, but I think I don't wonder if it's got something to do with the recession and the fact that I think company.
Ellipstick index but it's the Christmas Index.
Well, yeah, I think companies are probably obviously trying to drive sales because consumer spend jobs down and that's their job, correct, But I think I mean, for me, I know that Christmas is really an emotional holiday, and that's why I buy into it so much.
Is it?
It has very special memories from me as a child, and that's something I want to continue through. And so obviously, like you said, I budget for it, Like I plan for it, I'm not spending me on but I know no one else's.
Yeah, just as a little wizard. And if she wasn't, she wouldn't be on the shes on the money team, Like she's the best little budgeter. I can't even Yeah, but I just know that everyone on TikTok isn't doing that. They're just like racking up their credit cards for so much Christmas content.
Yeah, and like it's easy to be sucked in even all the sales, Like I keep having to remind myself and I have a few money means on this note, like you don't need everything that you see that's on tail, like it's if you're still spending money.
Yeah, I feel like it just needs to be said to go you know what that's actually not that normal, Like most people just use the Christmas decorations they bought the year before, and like I have a themed tree, Like it's when I say themed, I mean it's like one color palette and every year I like add a few Christmas decorations to that or like you know, I don't know what are we talking, Jess, maybe like thirty dollars.
I'll spend on that because like I will always wait until, like they have the sales on the Christmas decorations and full price Boxing Day, no absolute Boxing Day or even the lead up. Yeah, right now during the Black Friday sales. My favorite Christmas decorations are like forty to sixty percent off, So I'm like, well, I'm gonna pick those up because from memory, they don't get cheaper on Boxing Day, they.
Just have they just have less stocks, so I need it right now.
But I'll show maybe thirty bucks and get six or seven, you know, additional decorations.
And I think that's normal. Yeah do you even have to do that?
No?
Yeah, normalize using what you have or like being with what you have, Like I get it, Like I'm so guilty of being sucked into it. Like the social media consumerist thing. But this is your little reminder, like what you have is perfectly good, and if you want to update it, there are so many ways you can di wire a little refresh, paint your ball balls if you
want a different color. Skime's so smart something like that, Like, there are lots of little hacks and tricks that you can use that you don't have to spend money to make it feel new.
If that's what you are exactly, all right, Well let's get into the actual show. I just wanted to rund about Christmas because any opportunity to talk about Christmas is a good one to take. Miss z Gricci, What have you got when it comes to money wins and confessions this week?
Starting off with a small, solid one from Kelsey said something small but price matched my giant dog food bag. It's usually one hundred and sixty dollars, but I got it for one hundred and twenty two. And I also had a ten dollar pet stock reward. Thirteen kilos of dog food for one hundred and twelve dollars.
That's so cord.
I just price matching. Don't forget about price matching, especially this time of year, because everything is on sale. Next I have a money win from Kieran, who said I saved six thousand dollars on top of my one thousand dollar emergency fund. I'm planning on selling my car soon and I am hoping to make four thousand dollars, so I make my goal of saving ten grand.
To move overseats.
So far, if it all goes according to plan, I have reached my goal two months earlier than I planned. Cosh very exciting. Now I've got a money loss from Grace who said money loss. I caved to some Black Friday deals and Impulse brought some once which have blown my budget out a little further than I intended. But I'm taking this is my reminder to sit down and fine tune my budget and goals to better hold myself accountable. And then on the flip side of that, I have
a win from now who said money win. I'm taking advantage of the early Black Friday sales. It's a start and finish my Christmas shopping so I can start saving towards my red jo.
I feel like this is the reminder that I also need like the Christmas thing I bring up, because I kind of started to play into it a little bit. I was like, oh yeah, maybe I will do. And Jesse, you've already heard this from me. I was like, what if I did an entire rainbow Christmas tree, like instead of having my normal Christmas tree that I pull out every single year because I have a plastic one. Don't
come for me, don't want to hear it. But I said to Jess, oh my gosh, what if I went and bought like all rainbow decorations so it could be like an ombre from the top. Think about it, red, orange, yellow, green, pinker blue, like it would just be a sleigh. And Jess was obviously all in because she's Christmas girlie. Like, if you want Jess to talk you out of something, if you're her friend, it's not going to happen.
She'll be like, huh, that sounds great, Let's do it.
Bush. I sat down and was like, hold up, wait, what am I going to do with all these decorations once Christmas is over? What am I going to do?
You know?
At this point and then I was thinking a ways to justify it. I was like, what if I videoed it? Then it could be like content that I put on the internet. Then it's like, you know, it makes sense. Sure, No, you don't need the rainbow Christmas tree, so I will be having a gold Christmas tree again. Love yeah, lovely.
I just I can't justify it, guys.
Yeah, I just feel like Nellie and Grace two flip sides of the way to look at it.
Right.
Likely you can be sucked in, and you can be a little bit disappointed maybe in what you've bought, and be a little bit stressed because you've pushed your budget out, or you can use it to your advantage. The sales aren't inherently bad. We talk a lot about just making your list, checking it twice, making the sales work for you. So yeah, I feel like it was just really interesting that we had two people go kind of either way on the same thread.
I think it's so funny it actually, if you haven't seen our Instagram post as well from this week, we did five questions to ask yourself before impulse buying on Black Friday, and we posted that on Tuesday, So just to give you a quick rundown, first question is ask yourself, do you really need it? Second? Can I find a
better deal late? Because like so many times, Black Friday deals are so impulsive that you never think you're going to get it ever again, but then you kind of do a bit of research on the product and you realize it gets discounted every sale season. Sure. Number three does it fit your budget? Number four? Have I waited twenty four hours before committing to purchase this? And I promise Black Friday is not just one day?
Is it?
Yes, it's like a little season it because like two weeks at least exactly, so, like you do have time to put twenty four hours between you and your spending.
And number five will I regret this tomorrow?
So five questions to ask yourself before you do that, and hopefully they can help you stay off the confessions list in our many Wins and Confession thread. But please add your confessions because I feel like everyone feels so much more heard when we share them. Yeah, it's not us going, oh, beck, I can't believe it. It's literally us going, like girl, we get it.
Good reminder, very good reminded, Thank you, grace. Next money in is from Sophie, who said my usual train line is being closed for eighteen months to allow for upgrades and to compensate for the inconvenience they're giving everybody.
Six months of free travel on what the train you can't get on? Yeah?
Maybe life loss though, because the other options take so much longer for me to get to work.
But at least it's free. I think you look, at least it's free. It's eighteen months. Also, yeah, I'm like, oh the math mathing there. Yes, someone needs to raise a few questions with our council there.
I think whole eighteen months should be free, But I agree, who am I? Who am I to say?
I think the entire eighteen months should be free because you are being told that you're being put out for eighteen months, and I mean free public transport when obviously the train station is closed. It's like, actually the train company's fault. Free public transport is not going to cost them that much because the train's already running. It's not like they are going to have to add additional services.
Totally.
Also, it's going to cost our community member more because they're probably going to have to drive to a different station or find their way there somehow, which costs time and money.
Yeah, totally, but that's all Sophie seems happy she's taking the win. Lastly, I've got one from Taylor who said money and life win. We started fostering kittens this week. Why is it a money? When I hear you ask, cat Haven, which is the shelter, pays for all of the food, the vet appointments, the toys, and the other supplies. We get to look after these sweet little babies at no extra costs. Great for us because we've always wanted to have pets, but aren't in the position to be
able to adopt financially or otherwise. We get to help these little babies while they're overcoming their cat flu and help them find their forever homes by posting their profiles online. Put a cute little pick of them all sleeping together.
Gosh.
Now nobody tells Jess that this is an option for her.
I was like, Hi, could you have four more kittens? Absolutely not, She's already got two.
She's just started selecting them me and my boyfriend's cut me off at two unfortunately.
So I did mine. So what I did to get this was get a dog. That's I think he and then he said, no more pets. No, We've already got three Victoria. And I was like, all right, hear me out a.
Baby, So I'm winning.
I am went adding to the group.
Yeah, if you can foster, it's a really good thing. And I know that the shelters are really overwhelmed at the moment, so.
I love it. They cover the costs, which is awesome.
That's really That was such a good note to end on. Yeah, kittens and Christmas, Like what a.
Good episody today?
Yes?
What have you got when it comes to broke tips this week?
Okay, So, as per usual, I do have two from the community and one from myself. So the first one comes from Kimberly, who has given me a really good lentil vegan chili con khan recipe. She says that using red lentils as a meat substitute, which I know is not ideal for everyone. If you're going in for a chili con cahn, you kind of crave in that meat. But if you're going for a vegan.
They're delicious, delicious.
I feel like lentils have that meatiness to them, especially if you cook them low and slow.
Totally totally.
I have fooled my husband in a number of yes, and they're so filling.
So for about ten to twelve dollars, it makes twelve large serving delicious, So I mean, if you want that recipe, hit me up and I'll.
No, no, no, no no, We'll put it on our Instagram stories today, So you share that with me. We'll share that with our new graphic designer, Georgia because get this that she's on the money team has had to glow up. We have a real life, full time graphic designer. Put it in a little recipe card for you guys.
Put it on our inst stories per perfect.
Actually believe chili con can Kimberly' chlicon can. Thank you so much, Kimberly. And this next one comes from Kate, who says, Hi, beg, I have a broke tip for you. End of year slash Christmas parties can get expensive. So for our stealing Santa games, I've said to the team, just find something around the house that you don't want anymore and wrap it up. Plant clippings, veggies from your garden, a plate that doesn't match the rest. It's a way to declutter. And it's also I love this.
That is so fun.
That's I mean, it's it's great, Like, especially if you're living in the sharehouse, there's so many like random plates that don't fit anything else.
It's just going to be really funny. I feel everyone like opening the bad Santa Presents.
It's gonna be I can't really love that. It also gives me little sister vibes, so like I have a little sister Alex. If you're listening, love you, please look away. But every time she comes to my house, it's basically like, what can I steal from you? Yeah, kind of situation. Yea, she always wants my stuff. Surely other people do too.
Totally totally. There's something that someone has in the house that surely is like nothing to them, but it's it's treasure to someone else.
So I love it makes for a really entertaining time.
So yeah, absolutely, I love it. So thank you so much for that one.
Kate.
All right, Beck, what is your personal broake tip from this week?
Then?
Okay, so this one, as usual's a little bit rogue. But I was listening to this thing about embracing rejection and this kind of ties in somehow. So basically, if you're I'm a little bit too awkward for this. But if you're out and about and you're wanting to i don't know, price match or try and get some free let's say cookie with your coffee order, or something like embracing rejection means literally just asking the people around you.
Audacity is high, but not that high.
I know, I know me too, And this is like it's so good for maybe like every now and then getting a free sweet treat or getting a free like you never know what you're gonna get. You might have like something be reduced, a price of the price of something be reduced. Like I was saying a few weeks ago how my friend was going overseas and asked if the accommodation place could match her budget. They did it.
So just asking people, just asking for freebies, just asking for discounts, asking for you know, you never know how far you get. Also, it's like it's character building as well. Yeahs my character built in that way.
I can never know if you don't ask the answers always know. Isn't that the same exactly?
I say that all the time, But like I couldn't ask for a free cookie, like.
Like I know that that's so I don't know. Maybe it's not as scary.
If anybody has been doing this, can you smide into our DMS and tell us how you've been doing it without it being weird? Because I cannot imagine going to my local cafe and being like, yep, but touoit lates thank you?
Also, do you have any free cookies?
Like how do you ask count thing?
Like maybe you say, oh, is there some kind of specialist?
I buy a coffee and a cookie?
Totally you have.
To pay for the cookie too, well, it like they might just go oh no, no, specially go okay, just the coffee, thank you totally if I agree, like okay, I need the language a lot.
But if you say, is there some kind of deal?
I feel like older people, like my parents, especially my dad was always really good at this because I think you get to a point where you're just not embarrassed anymore. You're like, well what they say no? So what like do I care?
Like is that go?
I do?
Right now? Well that's it.
I think we get so stressy about it. But if you just ask and they say no, and you're oh, that's all right, that's fine.
Like I did get gifted a free cookie the other day though, so I didn't ask for it. Though I was in Subway because I've recently fallen back in love with subway, like just sourd sandwiches Subway. I know, so good and I'm always yes, but every time not sponsored, I'm always so like happy with the price point to you. Anyway, the girl was like, oh, do you want a cookie? And I said yes because I felt awkward, but she just gave it to me for free. I thought I
was gonna have to pay dream and way delicious. It wasn't that. It was my first Subway cookie, the macadamia. I hadn't had that one, the one with the little in lem and ms.
Oh that's new, that's new to the rotation.
Okay, we really sound like we're plugging.
So we can like Subway for you all work together. I currently am obsessed with you, but that's okay, all right, Well, beck, I like that tip.
Thank you.
I do really want to hear from the people in our community who have the audacity to ask.
Like, can you just like give us a little bit of a like tutorial.
How do we also have that audacity because right now I feel really uncomfortable and we shouldn't feel uncomfortable, so please share. But let's go to a really quick break. Maybe we can get a cookie, and after the break we're going to be talking about how do you ask your partner to make super contributions during your parental leave, and we're going to unpack something you slid into our DMS about guys, I'm excited about this one. It's about
a potentially deceptive friend and a missing summer cash. Don't go anywhere. Welcome back, everybody.
Let's take a listen to this week's money dilemma.
Hi. There, have you got a money dilemma you just can't solve? The 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, guys, absolutely love the podcast. My question is around. You've mentioned a few times your husband or partner contributing to your super while you know off having a child. So to give you some context, I earn significantly more than my husband. I'm on one hundred and twenty five thousand and he's one fifty five thousand. In our everyday life, this work's fine. We split everything five percentage of out come.
I just don't even know how to consider the super topic while off having a baby, and I'm frustrated a system that is making it complex for me to be the high income earner and then also to have a child the way I would like to take the time off and those sort of things.
Thank you.
I find this a really interesting one because usually you're asking for superannuation contributions because you're going to be significantly behind when you return to the workforce. And obviously, let's pretend you're taking twelve months, because I feel like that seems to be the average amount of time in in my friendship group. So that kind of makes most sense to me to use as an example. And she didn't
tell us. But at the end of the day, I want your partner and you to have this conversation about contributing to superannuation while you're on parental leave, because I don't want you, individually or anyone at all to be going back into the workforce and having a twelve month period when no contributions are made at all. Now, if you treat everything as kind of equal, well it wouldn't be a Now, beck you have to pay for my
super contributions. The conversation from my perspective would be more around how are we, as a couple who now have a limited budget, going to make sure that I don't miss out financially for my super because at the end of the day, it's not just about you, it's about you and your partner. They're going to miss out too, because if you you know, in a happy, go lucky world,
you stay together forever and it's all sunshine and roses. Well, that super contribution decision that we're making today will put you both ahead in retirement. If something happens in your relationship, at least you haven't fallen behind because of the parenting decisions that you made you at the time, made because they were best for your family. So it's all about making sure that we are financially stable. So the contribution isn't about going, Oh, my spouse has to make that
from his pay. It could actually come out of your parental leave pay, it could come from some savings, it could.
Come from anywhere. There are some benefits to it.
So if your partner is earning less than you, what you can do is a spouse super contribution. It's a voluntary after tax contribution into the superfund of your choice, obviously, but the person making the payments, so your husband in this circumstance could make the contribution and like do the transfer, but they can actually benefit from a tax offset of up to eighteen percent for contributions of up to three
grand a year. So that's a money win. If we look at you, know, you just do some basic maths, your usual tax rate and because what our friend wrote in is thirty two and a half cents in the dollar inside superannuation, the average tax rate is fifteen cents, so that's obviously very sexy. And what usually happens is if you make a co contribution or an after tax contribution to superannuation, come tax time, the ato go, ah, you paid thirty two and a half cents on the
money that you put in. Let me give you a refund of that fifteen cents in a dollar to make sure that you're okay. But they're giving you a little bonus now it's eighteen so there's like a little bit of a money catch there, which is very nice and obviously a way to I guess encourage you to make these contributions. But when it comes to who should be
paying it. It's not actually going hey, husband, you have to it's hey, our family budget looks like this, and superannuation and my retirement and financial freedom is really important to me.
How are we making sure that I'm not missing.
A year in the market, because compound interest is incredibly powerful and missing a year actually does put you back significantly. What do you reckon?
Jest?
How would you approach this conversation, because, as we all know, you're the big dog in the relationship at this point in time.
Yeah, I feel like, maybe fifty thousand if you're going to be living just on that salary and then obviously whatever parental leave you're entitled.
To, it's not a lot of money to stretch.
So I feel like potentially maybe saying, hey, like, I don't expect my super contributions to be at where they are because eleven percent, and of course one hundred and twenty five thousand is significantly more than you know, eleven percent of what your part would be earning at fifty thousand, So maybe go okay, well at a minimum wage point, because that's how the government calculates parentally, I think like it's based off of the minimum wage, Maybe you contribute
to your super as if you're earning minimum wage instead, as your money is still going in, maybe it's a little bit more attainable within the means of you know, the salary that you're living off of, but contributions are still being made, like it's not as if no money is being put in, so you are still taking advantage
of compound interest. And that's kind of a middle ground because I can see how for the partner that might be stressful and for you as well, if you're trying to live off this one wage and you're just trying to pay your bills and pay for all of the newborn expenses and then contributing that superanuation at such a
high amount could maybe feel like a stretch. So maybe it's approaching it and saying, hey, can we find a rate that does fit within our budget that we can contribute, and you know, if we need to make some other sacrifices to make that work, that's what we do, because it's a small amount to be living a love as
a family of three. But I think you're totally right like explaining why it's important as well, because I think men particularly but people generally, like I've had this conversation with my friends, and a lot of them had never thought about it either. You don't really think about the superat and you don't think about the fact that if you aren't contributing while you're on parental leave, that that has a really significant impact on you down the tracks.
Even running the numbers and being like, hey, like I miss out on five thousand dollars over the course of the year, and in thirty years that five thousand dollars could have been x, you know, So explaining the numbers to them, I think, and showing them the why and what it means, and I suppose not making it seem as that you're just saying, oh, I want money because
that's what I always have. Because I think if you approach the conversation with someone who's never thought about it, they might just be a bit taken aback from a lack of understanding, and so educating them might be really helpful in having that conversation and being flexible in the amount I feel like is maybe the best way to make it work.
I agree. I think it's so important to talk about it as well, and maybe not just go oh, the only way is for my partner to contribute because there are a number of different super strategies you could implement, right, Like, you could do a number of things. So I have had clients historically go, oh, in the next couple of years, I think I'm going to take leaves. So what I'm going to do is bump up my super contributions by
two percent. And they've calculated that all out, so that puts them a year ahead.
So they don't even have to have that conversation with their partner.
Because parental leave is stressful, Like it's not something that.
Is you know, all sunshine and roses.
Like my husband and I are going through this like planning stage at the moment where we go, okay, he gets three months at his full time salary, right, so we are currently trying to work out our budget for him to take six months at half pay. Sure, but it's all about doing the maths and the numbers and working it all out. I'm sure that if you're in this circumstance, you're doing it too. But there's a number of different strategies you can implement, So I guess let's
contextualize this too. So research tells us that two children could to one hundred thousand dollars in lost super. So obviously we have paid parental leave and all of these fun fancy things, but not many of them include superannuation. And that's because employers are not obligated to make super contributions while you're on parental leave, which is great. One thing I think that employers could be doing is going,
you know what, Jess, we are a small business. We might not be able to pay you full time for that period of time, but how about we do the government thing and your super and then everybody is in a better position financially. You can actually call your super fund as well and let them know that you're going on parental leave, and a lot of them will actually
wave fees for that period of time. So they'll waive fees on your insurances because during that period of time you're not going to be able to get income protection because you're on parental leave and you don't have income, so they might wave those fees. They might also be really kind and wave your super fees. Like the ADMIN stuff again goes back to you, Beck. What you're saying before got to have a little bit of an audacity.
What kind of deal can you cut here? But the end of the day, like lost super during parental leave. I looked this up before.
Analysis by Industry Super Australia shows.
A woman who spends five years out of the paid workforce in her late twenties to early thirties could be almost one hundred thousand dollars worse off in retirement and that's a lot of money totally, so it's definitely ask your partner what about co contributions? Can we afford this? Can yours partner split their super so like, instead of them getting their full super, can you have half of it for that period of time so that you're both
on an equal playing field. Can you contribute in the lead up to having children when you get back to work if you didn't have any ability to contribute to super, don't worry, guys, we're in a cost of living crisis. I totally get it. But could you bump it back up once you get back to work to kind of get back to where you needed to be?
And the other thing here is if we're caring so.
Much about SUPER contributions, have you reviewed your SUPER recently? Is it the right fund for you to even during this period of time and they performing well like it's not just about fees. It's about fees, performance, structure, your ethics, all of those things. And if you haven't reviewed your super recently, now is the time because all of this is wasted if you're not getting it back on performance. So obviously this is a subtle shout out as well
to our friends at sky Wealth. They can fix all of that for you, and we'll put their info in the show notes. But it's one of those things that you just go make sure that you've got your ducks in a row.
But also their house is quite sturdy.
That's so true. And I mean, I have a lot to add here, but I'm just going to say there's a lovely government organization women in Super trying to bridge that gender.
Super gap, So you know they're cool.
Other than that, really, that's all from me. You guys have fantastic advice.
We try a hardest.
Yeah, exactly, what're talking about?
It almost like I used to be a financial advisor.
Yeah, you kind of seem like you used to feel.
It's a bit weird. It's a bit weird. Let's move on though, because I have in trump at that bit to get to this DM this week, because when I baited it before, and I was like, a potentially deceptive friend, and are missing some of cash? Surely you guys were also like, please let us add it. We're dying. We're dying, all right. So are you ready for the DM of the week? So ready? Here is what we received. Girls.
I'm going to need your thoughts on this. I was having issues with my card to pay for things, and I needed to pay for a bunch of bills as soon as possible, so I sent my friend some money. It was around three hundred dollars and asked if she could try paying them using her card because mine wasn't working. She happily accepted me transferring her the money, but said when she tried to pay the bills, it also didn't work. So I asked her to transfer the cash back, and
that was over a week ago. She says she's already sent it back and I should contact the bank because there isn't anything else she can do. However, we've transferred money between each other before and it happens instantly. At the moment, I don't know what to think. I trust her, That's why I sent her the money in the first place, to help me, but I'm starting to become sus on if she really sent it.
But I can't accuse her of this.
Do you think I could ask her to send her own money in the meantime until we figure out where my money went. I desperately need that money to pay my bills, which still aren't paid.
How would you handle these girls?
Oh? This is so tricky. The whole time, I'm thinking, like, can she not send a screenshot of the transfer?
You know what I mean? But that's what I'd be asking for. I'd be like, oh my god, I'll call the bank. Can you please tell me what the reference number was? Yeah?
And also like it is scary because you're like, maybe you sent it to a different person whose name looked similar to mine, you weren't really paying attention, Like they're just just I would just desperately want a screenshot, which I know is also bad because it like kind of, you know, suggests you don't trust that they sent it or something.
But I think so I have literally sent money to the wrong person before, haven't I jestedly when I say that it was just sending my money to one of my friends instead of a supply, it was a lot of money.
Oh, I see you not a good time.
And you know what, shout out to Haley Short. I know she listens to this podcast. She called me immediately and was.
Like, I don't think you meant to do this.
Can you please come and take it back asab And I was like, yeah, I'm so sorry. Thanks. That's really nice. Yeah, because she's a wholesome human being. But it doesn't sound like your friend is one. So what do we do?
I guess. I guess also like, if you have that relationship where you can borrow money from each other and stuff like that, because it seems like you've transferred money from the past, maybe you can ask to borrow the three hundred dollars. And then I really don't know. I guess you just need proof, is all I'm thinking.
Yeah, I feel like you've got to like, if she hasn't done anything wrong, benefit of the doubt, and she's just like, I don't know, Like I sent the money, there shouldn't be any issue with her sending the screenshot. I feel like maybe rather than sending the screenshop get together and say, hey, you know, I've spoken to my bank. They need the reference number to be able to look
into it. Can you just put up on your phone, and and if she goes for whatever reason, she can't say no dramas, let's try calling your bank because we'll need to verify your identity to get that information. I can't call your bank and get that info for you. Can we just give them a buzz now and be honest and say, I just I really need it sorted, because I, like, I have bills to pay.
I so agree with that. I would just operate under the assumption that she has not lied to you, because it's going to come out in the wash like it's now, I guess twenty twenty three, and everything is electronically documented. So I would do exactly what Jess said and go, hey, can you send me the reference number. I'm going to call my bank and just have them follow up on it and maybe put a little bit of the fear
of God into her. And you're like, oh, if you can't find that, maybe we should really like flag your bank and my bank for for aud Like, yeah, what's happened? Where has it gone? Like my bank has confirmed it went to your bank. What does this look like?
Ye?
Because essentially your friend's going to be backed into a corner because the bank's going to go no, no, no, we can see it got put into this account number, this BSB. Hey, we've done what you told us to do. Yeah, And then from the flip side, you're right, go all right.
Well, when can I come over and we.
Can call your bank and like we can have a chat, like we can both be on the phone, because I promise the money will probably be found very quickly or you'll honestly brutal, you'll lose a friend really quickly.
Yeah, I mean the chance if it's always instant normally, the chances of it taking.
With OSCO, if you've transferred, it should be instantaneous, yes, And like.
I understand that sometimes there can be like very short delays with processing or whatever, but not over the course of a week, I wouldn't think.
Yeah, and you always get people communicating with you as well from the bank. So I have had, you know, times where I've transferred money to a new person. I've never had an issue with old So like I have like everybody you know in my payroll, in everyone that I send money to saved and I feel like I don't even get the security code text message anymore. They're just like, oh, chuck, your banking password in and you
can transfer it because this is a trusted trendransfer. But if it's new, they actually will message you and be like, oh, we've flagged this one. Can you please call us to verify or can you please reply one via text message
to confirm this was you transferring this. So if they hadn't communicated with you, it should have gone through immediately from my perspective, because we're talking about three hundred dollars here, not three hundred thousand, and you're trying to get a home deposit across which takes a much bigger period of time because of banking limits, So like I would get it if you were like, oh my god, because it is stressful, right, Like I remember when we were buying
our first house and I had to transfer the deposit for the house into the real estate like trust fund, and I just remember being like those numbers, Yeah, I checked my numbers fifty times. But then also I had a transfer limit, so I had to go down to the bank and pay for this manual transfer to be done of this lump sum at one time, and like, I'm sorry, everything's documented, So I'm suspicious from the get.
Go, totally and if the friends listening, Hey, do you really want to lose a friend over three hundred dollars? Something will last very long and the friendship might last forever.
Yeah, and have a good thing about why you're doing this, like if you're strapped to cash, Okay, I totally understand it, but this is not how to solve your problem in the short term, like in the long term, this is going to harm you. Also, the reputation that comes off this like terrible. Like people are going to ask right like, oh, hey, Jess,
why don't you talk to V anymore? Jess is going to go it's a bit awkward, like we just don't talk anymore after you know, I transferred her three hundred bucks and you know, I asked for it back and rarah. It was just awkward. I don't really know what happened to it. Other people are going to deduct that it's not a good situation. Even if Jess says absolutely, oh she's really nice, but I just don't get it, like she cut me out after that, stopped replying to my message, do you know what I mean?
It's just like you're going to look like a bit of a potato.
Sure, like that's not great. Sure, no one wants to be called a potato, right, Like that's true unless you're a French fry. But yeah, let's see what the community said. We asked them a few spicy questions. First one was, do you think it sounds like the friend has kept the money in lined about sending it back? Obviously, We asked that one first Yeah, eighty two percent of you were like, yep, yep, we do think that. We then said, do you think this person can ask their friend to
transfer their own money since hers has gone missing? Forty two percent of you said yes, it's the friend's responsibility to help, and fifty eight percent of you said no, it was her decision to send her money. I kind of am rock in a hard place because like if I transferred you money back and it genuinely went missing, like, it's kind of on me, not on you.
Yeah, Like I don't know if you have the relevant proof to show you. Yeah, yeah, if her friend can say here's the transfer, I've got no idea what's going on? Percent But I also it sounds like the friend's not being very helpful either, Like if that was us and you said, hey, like the money hasn't come back. I would be on the phone to my bank being like, hey, like, what's the go Totally.
I think I'm also a bit negative about this, like, oh, can your friend transfer you some money? In the trim, I'm like, there's already a problem communicating about money. I don't think we need to add an extra layer. If he said she said like I owe you, you owe me vice versa like, I just think it's not worth.
Yeah.
We said, if this was you, would you tell your friend you didn't believe they'd sent the money. Seventy two percent said yep, and I'd ask for proof of the transfer. Wow, ballsy people. I would never accuse anybody of anything, As I said, I'm very much a garden path kind of gal. I'd be like, can you please send me the reference number, I'll follow it up with my bank, and I'll let
you dig your own grave. I'm not going to accuse you of anything I can't prove totally, And then twenty eight percent of you said no, But it's because I hate confrontation. Relatable, We asked, do you think it is a bad idea to ask friends for help with money problems? Seventy seven percent of you said, Yep, it always ends badly and ruins friendship, said twenty three percent of you said no, I've had really positive experiences with it. I think this is really going to depend on the friend.
Like this situation should have ended up with like oh he said, she said, kind of like oh, I transferred it. You didn't get it, Like you had problems with your bills and your friend was like, oh, I can try and pay them for you. Here's the cash. I feel like, Jess, that's something that you and I would do if we were in a pickle, and it wouldn't be like a friendship borrowing money sitch, Like Jess would just transfer me
the money and I'd try and pay the thing, right. Yeah, Like that to me feels like a different thing than you know, borrowing money from a friend. Like I think those are two different circumstances because you're like, Babe, I've got the money, my bank just won't transfer it or
my card's broken or whatnot. Because like you should have been a very heavy step step step exactly, but like that's just you're telling me that I gave you three hundred well, you know, you gave me three hundred bucks, and then oh, what a cowinky dink you don't have it anymore. That's a bit weird. And then we obviously get this. We asked for you two cents. And I love this part because some of you are savages. Some of you honestly need to have a good hard thing
about the type of human being you are. And I don't read those comments on are others you're really funny. You're really funny. But here are some of the responses. So my best friend lent me fifteen hundred bucks for a car, and I learned how to manage money so I could quickly pay her back because I owed that to her. I think positive experience. Someone said, if they are a true friend, there should be no problem in sharing the receipts and they should actually be quite motivated
to help you solve this problem. So true, it's a good problem. That's just as missing three hundred bucks, Like I have done way more for less us.
Yes, she's just hunted down people on the internet.
I've done a lot of things that I am not that proud of. Because a friend is literally like, oh my god, x y Z happened to be I'm like, sit down, yeah, sit down.
I sound proud I feel like that sounds like proud.
Of my life. Anyway, we won't go into the time that I hunted someone's phone down on Find my Friends and not on a random person's front door to be like, hey, we know you have the phone, give it back. Yes, I could have died back. Don't tell my husband. We said that we were going shopping. So the next person said she should ask for a screenshot of the transfer so she can go to her bank with the evidence. Again, I think this is the page that we're all on.
Someone else said I would never accuse a friend of lying, but would ask for transfer proof so I can follow up with the bank. I feel like we're all on the same page about just like maybe not being too confrontational, but also being like, hey, that can I have the proof? Because any good friend would be like, oh yeah, yeah, Like honest to god, if I had your three hundred bucks and I had transferred it back, I would be
sending you a screenshots. But I'd also be like handing my phone across the table and have a look, I've transferred it here. Where do you think I've gone wrong? Do you need screenshots of my entire banking history? Like this has never happened before. Double check that out. Yeah, can you just check your bsban account number? Maybe I
transferred it to the wrong thing. Like I'd be literally handing my phone across the table being like, can you have a look at this too, because I automatically go to, oh my god, someone might not trust me. Yeah, Like I don't want that. I want to be like so transparent. So it is really confusing to me when people are so like, oh no, I sent it, yeah, and then provide no proof, totally being a bit avoidant.
Yea, exactly.
It feels like it. Yeah. Someone said I've gotten pretty good at being confrontational about stuff, but I always end up short changed. That's not good. Someone has said, quote I don't believe you, big red cross emoji, and then quote send picks of transfer for my reference because I'll call my bank please, and then big green tick emoji.
I like that.
Yeah.
I feel like every single response is basically us going. I mean, there are a few spicy people who are not so nice, in which case have a good hard think about yourself today, my friend, but everybody else was very very helpful in terms of I think just being on the same page as us. Like twenty twenty three. Everything is tracked. You will be able to track it down if your friend shares the receipts and the transfer
codes and everything else. Money doesn't just go missing, no, because if it did, a lot of people would be really rich and we wouldn't have any trust in our banking system here in Australia.
Also, if that person wants to give us an update, do you ever get the money and tell Allie yes, seriously the juice?
All right, Well, that is all we have got this week, my friends.
Thank you so much for hanging out again, Jess and Beck. It's my favorite time of the week having a chat with you guys about some spicy topics, also some genuine advice, but also learning about the community because you guys are literally my favorite. Let's cross our fingers because we're going to the podcast Awards literally tonight. We're all jumping in the car right now to go to the airport. But it's Friday for you, so check on our instagram to see if we've got our tail between our legs or
we wanted award. But we'll see you on Monday, bright and early for a money Darius.
Guys have the best Weekend, We Love You.
By Guys Bye, did buy?
Shared on?
And 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 authorized representatives of money. Sheper pty Ltd ABN three two one six four nine two seven seven zero eight AFSL four five one two eight nine