She's On The Money - FRIDAY DRINKS: Farewell Georgia King!

Episode Date: November 17, 2022

On this emotional episode of Friday Drinks we say farewell to our gal Georgia King! We'll miss you so much GK, thank you for a beautiful 3 years of your dulcet tones on SOTM, we're so genuinely excited for your next chapter!!Plus, we recap the week, share your money wins and solve a Money Dilemma about the slippery slope into debt and how to dig yourself out of it! You can submit your Money Dilemma here.And in interesting news, Bali have implemented a new visa which lets Australians live and work there for 6 months tax free, so the girls figure out how they could mange to work from paradise.Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements.The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708, AFSL - 451289.See omnystudio.com/listener for privacy information.

Hello, my name is Natasha Nabanunga-Bamblett. I'm a proud Yorta Yorta, Kernai, Wolperi and Awadjeri 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 Awadjeri 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 george's last episode of friday drinks Oh, no. Oh, if we're going to screw up the start, it's going to be for something good. And this is it. I mean, it's not good, but we're sad. It's crazy. Sad, but we're happy for you. Yeah.

Sending you off with support and love, but very sad to see you go. Thanks, honeys. Let me do the proper intro, then we'll talk about it. Hello and welcome to She's on the Money, the podcast for millennials who want financial freedom. You guys already know, because it's Friday and we're in your ears, that it is time to sit back with Jess, George, and I for the last time to do a Friday drinks episode. It has been an absolute joy. We're not going anywhere.

Jess and I are staying, but we're just sad to lose our pal, you know. Like, we'll still hang out at brunch, but she's just not going to come to recording. But on this episode, we get to unpack our favourite moments of the week and we also get to celebrate our community, which is our favourite thing in the entire world. We're going to share our favourite money wins, or George, for the very last time, is going to share her roundup of the money wins and confessions from the community.

We get to discuss what's making news in the finance world, and I believe it involves chatting about Bali, which I think is just genuinely Georgia's idea of gloating about a holiday she recently went on. And we're going to be answering a juicy money question about loans and debt. But before we jump into all of that, let's recap the week that was Miss Jessica Ricci. What happened on our Monday show? This week's diarist was an interesting one. We were talking all about her experience with IVF, which is something we get asked about actually quite a bit on the podcast. So it was really cool to see a little bit more into her journey. She spent over $100,000 on IVF and she has three beautiful children now, which is just incredible. She said

that she grew up not talking about money a whole lot. So it was really interesting to hear about how that journey kind of impacted how she, you know, managed to get $100,000 to spend and how she's then managing that as a parent of three, which is definitely not a cheap experience to be having. And Georgia King, what happened on our Wednesday show? On Wednesday, we spoke all about tenants' rights, VD, which was super juicy because the majority of people in the She's on the Money community are renters based on the data. We know that to be true. We thought it was time, and we've also had a lot of messages asking for it, to do an episode on what our rights actually are as tenants. And it was so interesting. I've had a few chats with Jess this year who previously

worked in property and she had so many insights for me as to how mistreated I was being as a little tenant. Yeah, you've both had a rough go of it this year. We have. I lease, so everyone knows I think that I own a property. We moved out while we renovated. Not great. interesting interesting I honest to god I probably should be asking for a refund for most of that rent but I haven't done that yet so yeah if you are someone who rents it's a really good episode because we go through everything from like bond returns to how often and how much your landlord can increase your rent by there was just so so much detail in there so I'd really recommend it if you are someone who rents if you know someone who rents really good episode for

that. And while there is definitely some national rules, which is what you guys covered, it also varies a lot state by state. So we cannot recommend it enough. If you feel like you're being taken advantage of, or even if you just feel like something's a little bit not kosher, jump on your state government website because I can guarantee you that there will be a tenant or a rental or some kind of governing body that will have all of the laws that are applicable to your state. Jump on there, know what's right and wrong, because if something is wrong, you can do something about it. Yeah. And I know that this is not like the most linear recommendation. It totally is linear, but I think not the most kosher recommendation because you can't take anything

that you get in a Facebook group as gospel, but pop on over to the property playbook group and you can post your question in there if you're just not sure, because those people are passionate about property. And I have seen so many people jump in and be like, all right, Georgia, sit down. So there's your rights. This is the research I've done before. I had this exact issue and they can kind of point you in the right direction. And I feel like they're really supportive. So if you are a bit worried, like one, search that group first because I guarantee a question similar has probably been asked already. But two, definitely pop it in if it hasn't. So head on over there. All right, Georgia King, it's time for our budget direct money wins and confessions of the week.

What have you got for us? So the first one comes from Ashley. Money win, a construction company spilt cement dust all over my car. That doesn't sound like a win. And I got a payout worth more in the vehicle itself oh my gosh yes that's actually really funny because a friend of mine works in construction and he worked on a site in the CBD and he was telling me that like it's a big building so he's like your friend your friend did it there's heaps of crews working at once and he said he saw the concreters like just somehow lose control of this big funnel thing that's spraying concrete and went all over the road I wonder if that's the same people it could have been the same incident. Your friends are our community's next money win. The next win comes from Kimberly.

Small money win. I finally got my Canva account cancelled and the fees refunded for the last few months. Try and say Canva account cancelled ten times fast. That's a mouthful. Yeah. I didn't know you had to pay for Canva. Is that for like a... There's like a pro subscription. We have one because we make a lot of our content on Canva. Canva's great. But I want, why did we want to refund it? Was there any more information or she'd just been working towards this goal and actually cancelled it because she wasn't using it? I think that's all right. That's a good tip on you, Kimberley. The next one comes from Kira Moneywin. KitchenAid mixes went on clearance at The Good Guys. Clearance? And I managed to pick up my dream mixer for $225 or less than the usual.

Well, yeah, I love a KitchenAid. You fagged it up. Tell me what you were doing. When I read it, I was like $225, but still good. Could have got it for free with five points. That's very true. Why don't you trump one of our community members on their money win? That was a great win, Kira.

I'm sorry to do that to you. Well done. Happy for you. That was nasty. The next winner comes from Lauren. Money win, free beer. I went to a beer festival and, as it turns out, my ex was working at one of the breweries.

We said our hellos and then his boss goes, feel free to give your friends some drinks and suddenly I went to see my ex several times that day. I respect that. I respect that. Would any of your exes give you free beers? Because I don't know if that's how my relationship is. I reckon maybe. Well, maybe.

We'll see. I'd give you a free beer. Oh, because we're about to be exes. Hey! Oh, no. Savage. I thought we were staying friends. The next win comes from Jodie. My health insurance gave me $56 back worth of premiums as a thank you

for sticking with them throughout COVID. Nice. A small but fabulous win. We love little bonuses like that, don't we? We do. The final money win of the week is from Kate. I was looking at buying some linen sheets and quilt sets for around $400 all up, but then I just checked the Aldi special buys and they have linen sheets slash quilt sets for $200-ish all up this week. Riddle me something Aldi can't do. Please, tell me. Matcha a few weeks ago, I bought, what did I buy? A coffee machine quite recently. They have very good vegan ice cream. That middle aisle gets me every time. They have a really, they do waffle fries. Waffle fries? And curly fries, which are very hard to find in case anyone's ever tried. I can imagine you being a fan of both of those things. I also bought my

ski undergarments from there so like my thermals yeah yeah every year obviously not this time of year it's a bit warm at the moment but come I think June or I think it's June they do like their ski sale and their stuff is so good and so cheap like thermals like 30 bucks money win like on your LD got a lot on Patagonia except for the environmental stuff that is it for the week my girls that's all you've got you did a good round up though I'm very proud of you all right As always, it has been fantastic celebrating some of your Budget Direct money wins. Budget Direct winner of Canstar's Insurer of the Year Award 2022. Budget Direct insurance solved.

All right, let's go to a really quick break. And after the break, we're going to answer a question from our friend Brittany, who has a question around loans and debts. And we are also going to talk about Bali, not just Georgia King's holiday. Don't go anywhere. all right guys so as we've heard george spent a beautiful couple of weeks on the the crisp golden sands of bali did you have a good time i don't know if i'd call them golden but all right oh i haven't been so can't relate unfortunately no it's gorgeous it's so nice over there whereabouts

in bali did you go oh testing me we went to changu seminyak and ubud changu is the new kudos guys everyone talks about it I have been to Seminyak adore Seminyak so many good restaurants but also last time I went to Bali I went to Ubud and basically became a yogi that is exactly what I did as well I love it so many acai bowls but that's not what we're here to talk about you might be interested to know actually then George if the dream is to become a full-time yogi we're circling it around because Bali have recently implemented a tax-free visa for Aussie tourists which is pretty cool. So a little bit more info for you in case you're interested. They've got the new B211A digital nomad visa, which allows Australians... Oh, that makes a lot of sense to

me. Yep. Different to the B6, which is just a vitamin. It will allow Australians to live and work in Bali for six months tax free. And apparently there's a five-year version in the works as well. Bali previously was kind of home to a lot of digital nomads, people who run their own businesses or do online courses or yogi retreats or all those kinds of things because it is a beautiful country that's very close to us here. The cost of living is obviously significantly lower than the cost of living here. But as we've spoken about on the pod before, if you're traveling internationally, if your business is registered here, you're paying money to tax right here. However, you know, if you register your business over there, it's tax-free

for six months, maybe five years if they get that across the line and get to live in Bali, which sounds like an absolute dream to me huge and to me my girl I can anyone think of a business idea for me to take over there oh my god right I'll come up with something we can run cheese on the money from Bali did you do a workshop over there or something yeah I've done this no no no I mean it technically was me taking work overseas I've had to pay tax on that income what a joke yeah I ran some workshops in Bali a long time ago I'm impressed that you remembered that stuck out to me it was way back when I think it was like 2018 or so back when cheese on the money wasn't even properly born yet. I was doing She's on the Money workshops and was invited over there

to run workshops for a leadership forum. And it was a lot of fun. The only thing I will say as someone who prides themselves on having nice hair, the humidity does not agree with me. It is not great. And my skin goes terrible. But you know what? If I'm not paying tax, maybe that's the price you pay. If I went over there and was like, I'm creating my own podcast all about money. obviously not it's called george's on the money it's called george's on the money watch out for it it's why she's leaving us i can't tell you much but come along if i had sponsors back from australia i wouldn't have to pay tax on that is that right see the problem with that is obviously you would have to register yourself in indonesia as someone who is living there and paying tax

there australia would no longer be the place that you're paying tax or generating an income so obviously if you're an australian you work for a company that enables you to work you know from wherever you want. You can't just go to Bali and then earn income tax-free. That's not going to work. It will probably either have to be negotiated or you'll have to have an employment contract in Bali to make that work. So there's lots of semantics and you can jump online and find them out. However, I just like the idea that they're trying to promote more tourism coming back. Obviously, COVID hit them pretty hard. Tourism was their biggest income generator and now they're trying to get people from around the globe to come and, you know, set up shop and

bring it back because Bali is a gorgeous place. It's a gorgeous place. They estimate that it will create 4.4 million jobs without taking any away from local residents, which I think is huge. Yeah, it's very exciting. Bit of a short one, but a fun one this week for you girls and relevant for you, George. That's why we picked it. This week's all about Georgia and it's Georgia's last episode. But before we get to answering the question from our listener, G, how are you feeling? A little bit weird. I mean, yeah, it's emotional, but it's exciting. It's just it's a bit of a strange feeling. I feel like tomorrow when I wake up, it'll be, it'll be really strange. Dobby's a free elf. Dobby's a free elf. Dobby is a free elf. Well, he didn't know what to do

with himself either. No, but he died. Let's not. I didn't watch another Harry Potter story. Not a great, you are like a beautiful butterfly. You have to leave that in. That's too good. I'm really sorry, Georgia. No, I'll see you around. You're still around. You'll see me around. And if people want to keep up with you, where can they find you? Great question.

At my extremely active social media page. I'm at G King on tour. In case anyone ever wondered where that nickname came from. It was actually your Instagram handle. It's my Insta handle. Which I believe came because my sister made it for you when you were literally on a Europe trip with her. I heard this story when we were on a Europe trip. It's a good story.

Tell the story. It's a good story. so I surprise surprise was very late to Instagram I didn't really get it still don't really but we were just kind of taking the mickey and you know there's photos of me with like a beret next to the Eiffel Tower holding like a small Eiffel Tower being like bonjour just being a dickhead so it kind of went from there and then it really didn't progress anywhere because I don't use social media but maybe I'll try harder so that I can stay connected with you guys and yeah stay connected with you, the glorious Shoes on the Money community. As I mentioned when we announced

that I was departing a few weeks ago now, it has been a great privilege and a great honour. I've loved doing it. It's been so special. I've learned a lot about money along the way as well. And yeah, just I guess a big thank you to everyone for listening and for giving me the privilege of being in your ears for the last three years. You basically broke our DMs when we announced it. But people were unhappy. We were thinking maybe we'd have to call the right squad. Us two besties. Yeah, yeah, yeah.

They were like, we don't want to be left with these guys. What are you doing jinking on tour? But no, keeping contact, obviously you're not going that far, just leaving the pod, which is really far away. But no, we are so grateful that you have been on the journey. I've said it all to you before. I don't want to cry. I'll get really upset because I get really, really emotional

about stuff like this. But it has been an absolute privilege sharing the last three years on the pod with you. Oh, I was choking up. And, yeah, thanks to Victoria. Jess is just sitting in the corner. It's not sad. You're still with Ziggy.

No, I know. I'm very excited for you but obviously we'll miss you so, so, so, so much. Oh, darn. And, yeah, thank you to Victoria and Jess for making it such a brilliant experience and I love you both and stay in touch. Don't forget me. We're not going to forget you. Bold of you to think that your social media is where we're going to keep in contact.

Like anybody who knows Georgia, you just don't bother. Alex told me you were meant to change your name to G King at home and you just never did it. G King at home. What do you mean? It's actually the best thing ever because I'll be like, oh, yeah, that thing we did on Instagram, and George will be like, yes, that thing you did on the Instagram.

I don't get it. Like my 90-year-old grandma. It's my favourite. All right, all right, let's get back into the show. The people want a listener question. What have we got? 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 quick voice recording and you may just find yourself on the show. Now, let's take a listen to today's money dilemma. Hi, I'm a 23 year old who has just finished uni. I'm finally working my dream job, making some, you know, quite good money considering. However, when I was at uni, I tried to live above my means quite significantly and got out zip pays, zip money, afterpay, nimbles, anything to try and pay my bills and pay my car loan and my rent. So now that I'm making this amazing money as a new grad, I'm still left with next to nothing, trying to repay all of these

silly little loans. So please help me dig myself out of this hole. How do I have more financial freedom and have more control over my money and so I don't ever do that again. Help. This is so common and I was talking to you about this the other day actually Jess where you go from being a rich uni student to a broke professional and it's an interesting juxtaposition because I think that when we're uni students we're like yolo it doesn't matter I don't need to save or I don't need to do this I'll just do it when I have a career or I do it when I have a full-time income then you get your full-time income and you're like paying the debts for the decisions you made during university. And I say that because that's what I did.

Slippery slope. I totally understand it. But I think now is the time to really just take hold of your budget and your cash flow. I can't emphasize it more. I need you to sit down, every single person, and understand how much money is coming in, how much money is going out. What do your debts look like? I have no idea of, you know, the cumulative debt that you're in or where they're all sitting. But if you've got a number of different buy now, pay later companies, having a look at which ones have the highest fees or the highest amount of exit fees and paying the big ones off first. But we also did an episode talking about debt reduction, where we discussed the differences between the snowball method and the avalanche method. I would absolutely go back

and listen to that and decide what strategy works for you. I also would recommend keeping track of like get a chart write a list of where you're going to be at make goals so that you know all right well I know that I can contribute $50 a week to this if I do that by December I'm going to be out of debt or by you know January I'm going to be out it's one of those things where create a goal because then you feel like you're working towards something and actually track it because you feel like you're on the way Jess you've been in debt before how did you feel getting out of it oh I I think I said before, it was a huge weight off of my shoulders. It was simultaneously the best feeling ever

and the most underwhelming experience of my life. Like the finally going into the bank and closing the card and being like, it's done, it's gone. Where's my parade? Don't they have like confetti cannons? I kind of expected them to give me like a sticker or something at the very least, but unfortunately not. Yeah, nothing for poor little Jess, unfortunately.

You literally get more when you get vaccinated. It's true. What the hell? Or when you vote. I got stickers when I got vaccinated. Yeah, but it's such a good feeling, I think, just plugging away, particularly if you've just come out of uni and you're like, oh my God, how did this happen? We've all been there.

But I think just chipping away, regularly setting it up so that you get used to that amount of money disappearing as you pay it off, pushing yourself forward to pay it off. And then when you do, being like, okay, great, like I'm going to take that same amount of money and put it towards something else is what really worked for me because nothing really changed in terms of lifestyle. I was already seeing that money disappear. It was just now it was going towards saving for a goal rather than paying down a debt. Yeah. And it's exciting because if you do that well, you're automatically going to have a really good savings habit because you're so used to putting that money aside. Don't change it. Continue to put that money aside. When

one debt's gone, just re-transfer it to a savings account and you've set yourself up for success. I think it's genius. Yeah, that's smart. The other thing that I've learned about on this very podcast, ladies, that Brittany might find helpful is knowing about the trap of lifestyle creep. So that is when you gain a better income, you can become very tempted to spend that income on nice, pretty little things. And whilst it seems harmless at the start, I'll just grab, you know, a latte a day. Then all of a sudden you're grabbing a croissant with your latte. Okay. I don't know if this is the best example, but it's your example because I know what you do every day. Have a coffee and a croissant. You're like, be aware. I do it anyway.

These little things can creep into your lifestyle that you don't really notice. And then all of a sudden you're spending hundreds of dollars a week on non-essential spends just because you can't afford it, but that is jeopardizing your larger savings. If I look retrospectively at my journey from university into full-time working, I guess my best example of that is my makeup. And I've said this before I think I actually wrote about it in my first book where you know when I was at high school and I didn't really have any income and my mum was buying me makeup for the first time it was just from the supermarket whatever was like handy we would get and then I got my first job and I started paying for my own makeup and so I'd still buy it at the supermarket but

maybe I'd go to like Priceline and then things got a little bit more bougie and expensive when I was at uni and I was like all right now it's Priceline I'd get some stuff from Maya I'd also get some stuff from the chemist like things got progressively more expensive and then my full-time job I'm like okay sit down adore beauty and Mecca like we're gonna have to talk I'm a level three beauty looper like it actually just spiraled and you just don't realize it because like to me I go oh but that's the foundation I use I can't cut back on that and then you look back 10 years ago and I'm like well I was really happy with Maybelline like where did that slope slip and why have I decided that in line with my income, I deserve better quality products? Like I get it.

Maybe that's one of your core values. But when it came back down to it, I was like, hold up, I don't need this. And that's why so many of my cosmetics nowadays are so cheap. And I lost my level three beauty loop status. It's not the worst thing in the world. I mean, it means I'm spending less, but it's also kind of like going back to what your true values are because it kind of just became second nature to me, especially as someone who was working in the CBD. It's not as prevalent to just like walk into Chemist Warehouse and get some stuff. I was like, oh, Mecca's down there. Maybe I'll pop down there on my lunch break. Like it's an experience. I love it. Like there's nothing more that I love in this world than a good Mecca store. They smell so good. The only

place that smells better than a Mecca store is a Peter Alexander store. Yeah, delicious. Yeah, not wrong. So for me, it was about reflecting on my values and going, well, actually, am I getting enough value from this or not and I mean there's still some bougie things I love to use but I think it's really about reflecting and going well is this in line with my values and Georgia King if your coffee and croissant is your value so I'm not going to argue with you over that and I think that that's one of the learnings that I wish I'd kind of bit in the bottom as I was coming out of into full-time work because you just don't need to fit in by spending an exorbitant amount of money on stuff 100 all right with that it's time to go it's time to go Georgia King we love you

thank you any final words before we boot you out no just I love you all thanks you're leaving just so you know you're leaving voluntarily like this was you this was your choice yes yes yes no just a big thank you to all the listeners to my two girlies sitting here with me today to Annalisa our beautiful producer. Just to everyone who's been involved, it's been such a special experience, one that I'm not going to forget anytime soon. And yeah, I'm not going anywhere. I kind of am, but I love you all. Is that a good way of ending it? We do. Perfect. Okay. See you at brunch tomorrow, Georgia King. Bye guys. Bye. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances.

She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs. Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN 321 649 27708 AFSL 451 289.