She's On The Money - FRIDAY DRINKS: Free Degree But Not Free For All

Episode Date: September 8, 2022

Another Friday has rolled around again friends, and what would Friday be without a recap of the week that was, and a solid celebration of your money wins (and losses of course)!Plus our Money Dilemma this week is all about that tricky question of sharing property with a partner. You can send us a Money Dilemma to solve on the show here.And with the Victorian Government recently announcing they will be covering the full HECS debt for Undergraduate study in Nursing and Midwifery degrees, the girls open up a broader conversation about how society values certain industries and soooo much more.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. Victoria Devine and She's On The Money are Authorised Representatives of Infocus Securities Australia Proprietary Limited ABN 47 097 797 049 AFSL - AFSL 236523.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 she's on the money the podcast for millennials who want financial freedom today is friday my friends which means it is time to sit back with the girls and a bev in hand to unpack our favourite moments of the week and, of course, to celebrate you, our incredible She's On The Money community. As always, we're going to be sharing our favourite money wins, we're going to discuss what's making news in the finance world, and this week we're going to be helping to answer a juicy money question about property with a partner. So stick around for that, but first it is time, as always, to recap the week that was. Miss Jessica Rucci, tell us what happened on our Monday's Money Diary episode. This week's diarist was

someone who self-proclaimed herself as an elder millennial. I'm not calling her old, that's what she said. Who calls themselves an elder millennial? Like, just own it. You're a millennial. Yeah. Full stop, end of story. We're the old people on TikTok and that's okay. We know our place. It's to be pests. She grew up with a lot of stress in her life when it came to money. You know, she said she made poor career choices or choices she wasn't happy with. Her parents and grandparents made choices that, you know, maybe didn't put them in the best possible position and her whole life she kind of had this understanding of that's just how it was like you kind of you get by and that's as good as it gets but in the last five or six years she

has moved countries seven times she's lived seven was wild yeah she's lived all over the world she's been making decisions that really aim at furthering her career increasing her income setting herself up financially she earned six figures now and she said that she wanted to share her story for anyone who, you know, was in a similar position to her when she was growing up and to tell them that you can change your money story, you can change your journey and you can set yourself up for success, which I thought was awesome because absolutely there's, you know, a level of privilege in everyone's life and the circumstances that you're dealt are a challenge and some people are dealt a better hand than others. But it was very inspirational to hear her say, oh my gosh,

it was really tough and I was surrounded by people who were making decisions that maybe weren't the best, but I worked really hard and I educated myself and I'm working on changing that for me going forward. I feel like that would be a really good episode to listen to for people, people who might even be afraid of listening to our podcast, who might think money is a really anxiety inducing topic to know that you can change your circumstance and you can put the work in. It's not going to happen overnight, but over the long term, you can really make changes. So don't be afraid. And I think it's really empowering. I mean, not to take it this way because obviously that's really impactful. But Jess, as you know, I have been watching The

Real Housewives of Beverly Hills recently, which is solid content for those of you playing along at home. The drama, it wouldn't fly in 2022. There is no way that stuff would make it to air without them being completely cancelled, which is why I'm totally here for it. But to wrap back to my actual point, one of them said the other day on the show, they're like, oh, didn't you grow up and be taught that talking about money is disgusting and vulgar and all of this? And I was just like, sis, we need to talk. Like I literally was looking at it going, that's such a toxic mentality. And it's been a really long time since I've been faced with that kind of opinion. And I mean, it wasn't directed at me, but seeing someone be like, it's actually disgusting. Like you

shouldn't do that. Like you shouldn't talk about money or how much you pay for anything. And I was just like, hold up. Like that's something that is now empowering women and putting them in the best possible position to get paid what they're worth and do what they need to. And I just feel like the idea that talking about money is gross just it really irked me and I was just like our money diaries exist purely for you guys to know what other people go through and how that works and look how much we've learned over the last few years of sharing money diaries and I think we've all learned over you know the last three years of she's on the money that talking about money doesn't mean I go hey Jess how much do you earn like we can have wholesome really productive

conversations about money without talking personally about what you earn. I mean, I'm all for sharing that and talking about that because that puts us on a better, more equal playing field. But man, I was really taken aback by that. And so then looking at this money diary, I'm like, it's just so cool that she's rejigging her financial circumstances and putting herself in the driver's seat, which I think is something that should be extended to everybody. 100%. And like, that's why we love having such diverse stories. This was an international story as well, which was so cool. It blows my mind that we have people living internationally. And if you live in another country, let us know because we always get such

a kick out of hearing where you're listening from. It also was a very interesting look into a world that's very different from our own because she shared about her parents who are living in Venezuela. And for those who don't know, I really didn't know a lot about it. The economic and civil climate over there is really at a boiling point and it's a really tough place to be living and she was assisting them financially and it was a good reminder that there's a much bigger world out there than talking about rent and how much our eggs cost and whether we can save up for a home deposit. It's so wild, isn't it? It absolutely is and she was so candid in sharing her backstory, her parents' backstory. I was really, really grateful for it. Wednesday was

a good deep dive. Miss Georgia King, were you allowed back on the podcast this week? I was allowed back on. You are so lucky. I know. And this week we spoke all about passive versus active investing. Ladies. What a dream. I think I'm the only one who really enjoyed that episode, but that is okay. I learned some things. Do you want to hear? I want to know what you learned. So an active investor tries to beat the market, whereas a passive investor tracks the market index. So we spoke about the pros and cons of each. You'll be able to figure out what type of Investor U Arts, it's a lot of fun. You know how in Dolly Doctor they used to have the quiz, like you're this or you're that. Which One Direction member are you? Yeah, not even in

Dolly Doctor. It was just in Dolly. Like the Dolly Doctor ones were always way more pervy. Which lube are you? I don't know. Which lube are you? I don't know. That's all I could think of. I'm sorry. But we should bring those back and make like investing risk profiles sexier. Like which One Direction are you? And then we should allocate different risk profiles to each of them. Are you a Harry? I don't know. Are you? Sucks to be a Liam Payne. I'm kidding. Great guy by all reports. All right. Georgia King, let's move away because we've spoken about Liam Payne, Harry and Lube. We are going to go into our budget direct money wins of the week. What have you got to bring to the table? Let's do it. The first win comes from Gry. Money win. I received a check from ANZ

for a closed credit card I had overpaid on at the time of closing. I overpaid $1.39 and because of the interest it gained over the years, I got a cheque for $52. Oh, money wins. I said I feel like she gained the system. Also very interested that you just said A and Z. Oh, my gosh, I was going to bring that up too. I thought about letting it slide and I was like, nah. Oh, guys, you never know what's going to come out of your mouth on these things.

Okay, so I used to get in so much trouble growing up. Eric Devine, if you are listening, I am still salty about this, but he'd be like, Z is the American way of saying things you need to say. Zed. That is Australian and British. And we use British English in this house. And I'd be like, um, okay. So everybody else is doing their ABCs and I'm like, X, Y, Z. And my dad would be like hitting the roof. He's like, it's X, Y, Zed. And be like, that just doesn't flow. The flow is not there. So you're messing with the juju in this room by saying that Georgia King. I stand by A and Z. Let's move on to Sarah's money win. I recently visited a new dentist

clinic near the city, and they found five fillings that are due for replacing. The quote was horrendous. I went to see my local regular dentist and their quote was $700 less. So that's where I'll be going for my next appointment. You just message her for the deets, yeah? Sarah, I'll be in touch. But do you guys go to the dentist? Because I don't.

We do. Actually, Jess and I have the same dentist. Do you? Shout out to Fadi at the Richmond dentist. And Chris. And Chris, an actual legend. but yeah no it is expensive but dental work across the board I think is expensive and I feel like we're lucky in Australia because in America it's actually cooked but like to me teeth are really

important so a good dentist is worth the money to me I didn't go to the dentist for a decade because I was so anxious about it don't put that on the pod yeah people think I'm gross but yeah like finding someone where you feel comfy I would and this is a really good example of values-based spending yes our dentist is a little pricier but I've never felt more comfortable and they're so good about taking me through and making me feel good that I'm like you know what that's worth a bit more money to me and it did take some convincing as well I was like no Jess they're so nice I promise Jess kept being like I really need to go and I literally got to the point I was like do you need me to come like I will hold your hand and then she went and I think you called me on the

way home and you were like they're so nice like it was fine they're gonna do this and now Jess is like getting Invisalign and going the whole hog. I'm like, wow, from just wanting to check up to doing a full Invisalign journey, maybe we can get you an Invisalign sponsorship because that stuff is real spino. If you want to talk about teeth money losses. I feel like there's a note on my file that literally says,

she is petrified, handle with care. Pat her when she comes in. Anyway, enough about my teeth. What else have you got for us? The next one comes from Brianna, guys. It is a money loss. Taylor Swift announced her new album and of course life win that is an investment I'm sorry what do you mean she said she had to pre-order the vinyl and the cd so yeah on the same day

as the Arctic Monkeys album stop it don't call me don't talk to me my calendar says do not disturb George what she's actually not joking like if I go to her work Oh, really? Yes. She's taken the whole day and she's booked up the first half of the day Arctic Monkeys, second half of the day. Listening session. Yeah, and I'm just like, what's this?

That's self-care, baby. Yeah, but in my head I was like, oh, she's going to these concerts. No, she's not. She's at home. I'm listening and I'm crying and I'm feeling the feelings. Oh, I hope they're both amazing for you, doll. Thank you. We approve that you're leaving this office for literally anything.

It's all good. The next one comes from Georgie Moneywin. I started collecting containers for return collection two months ago and I did my first drop off today. That's an extra $20 in my savings. Plus, I'm helping the environment. Every little bit helps. Love it.

Love this. The next win comes from Bella Money Win. I've been dying to couch upgrade for months, but I wasn't financially ready to do so. I happened to be on Good Karma at the right time and someone was trying to sell a $7,000 couch, but they were sick of no shows and time wasters. So I got it for free. What? That is a very hot deal.

that's a hot deal seven thousand dollars seven thousand dollar couch all right but let's flip this imagine being in the circumstance where you're the owner of a seven thousand dollar couch and you're like whatever i'm in a financial position where someone can just come get it think they must have been stood up by a lot of people to get to that point seven thousand dollars down the drain please dm us pictures of the couch honey to see if this was worth it please please please the next win comes from emma kate money win i got a 10 pay rise at the job. I've only been out for six months. Money for you. Not bad. And the last one for the day comes from Ainsley. It is the ultimate money win, she writes. Today, I received a verbal offer for

a role in another state that pays $33,000 more than my current role. Oh, what a legend. I'm still in shock, but now it's time to plan the big solo move. Oh my gosh. I want to know what she's doing. You guys need to give me way more info on these money wins. Like, I want your life story. You know how some people like get to the point. I'm like, no, no, no. I want to know where you grew up and what your dog's name was. And then what was your money win again? That's it for the week. That's it for the week. Oh my gosh. Well, Georgia King, 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. Let's go to a really quick break. And after that, we are going to answer some spicy questions about sharing property potentially with your partner. don't go anywhere. All right, guys. Today, I have some local news, some Victorian news. Apologies for our friends in other states, but it does come into a broader conversation. So please don't turn off. I wanted to talk about this announcement that came out from the Victorian government all about covering HECS debt, which is really exciting. And so we've spoken about many, many times on the podcast. With my six figures of HECS debt, my ears pricked straight up. Yeah, unfortunately, not for you, no bueno. But we know that there's a real skills shortage

in the healthcare sector. Our healthcare workers have been absolutely slammed through COVID. People are exiting that industry at incredibly high rates, understandably. So I think to kind of encourage people to get back in, to get new blood, the Victorian government has announced that they will be covering the full cost of HECS debt for more than 10,000 students who are studying nursing or midwifery undergraduate degrees, which that's a lot of HECS debt to be paid, $10,000 if you think about what the average HECS debt is, maybe $10,000 a year? Yeah, that's right. Call it like ballpark $30,000 times $10,000.

You've lost me. That's too many zeros for my head. I can't do it. But that's a lot of money. And they're obviously aiming at getting that sector back up, aiming at getting us, you know, the infrastructure all set up so that, heavens forbid, if anything were to happen again, we're a little bit more prepared, if you will. I just Googled it, guys. An average undergraduate degree in nursing here in Australia will cost you anywhere between $20,000 and $35,000 in total. Like that's lots. It's lots of money. And I think it's really great that they're prioritizing that. But it's opened

up the conversation. And this is kind of where it gets broader, bringing in our interstate friends back into the fold. I've seen a lot of discourse from people saying, well, I'm halfway through my nursing degree. Why isn't my thing being? And firstly, I get it. You know, it's like when you buy a bag and then two days later the bag goes on sale and you go well I've missed out and you know in that instance I would take the bag back and be like can I get the discount maybe I would can't really do that with your degree though and so a lot of people have been kind of a little bit upset a little bit offended because they have done nursing previously or they've just started and for whatever reason the scheme isn't going to cover them and I don't even know if 10,000 would cover

every single student let's say next year I'm sure that there probably will be people who miss out and I wanted to talk to you guys and get your thoughts on it because I guess it's that concept of if someone else receives something that you don't the impact that that has on you and how you feel and we saw this mirrored in the US when they forgave student loans or announced that they would be forgiving student loans because a lot of people said well I paid for my university degree and why should your loans be forgiven and mine not and I get it like I get that it's kind of crappy to see someone get a financial windfall you know for someone like UBD like you've got six figures of Hexter and that's kind of sucky. But should we be kind of looking at this and going, you know

what, sunny side up, 10,000 more nurses in an industry that is so important to us and that we're so lucky to have really great healthcare systems. Is that a good thing? How do we deal with those feelings? Because I would say it's understandable if you are feeling a bit pissed off, but like, how do we process those in a positive way? I have three opinions to share. That's a lot of opinions. Lay them on us. Yeah, three. Three, three only, probably more, let's be honest.

Because once I get on the roll, I'll be like, oh, and, oh, and. First, why is it new people signing up? Why isn't it the next 10,000 people to graduate having their HECS debt wiped? Why isn't it that? Because I just don't understand why I'd be like, oh, gee, it's free. Go sign up for it. And then you finish half the degree. Go finish the degree.

Put it all on your HECS. And once you graduate, you submit the form and you get it all wiped. To me, that makes more sense because you're a legit nurse. you would have gone through placement and actually gone through all of it. I know that that's probably going to be controversial because you're like, why would you want people who are dropping out having to pay for it? And that would then go back to me being like, your values, you need to actually know what you want to do. And I genuinely believe in having gap years and not going into a degree that you're not 100% certain on yet. But I would think it should be the next 10,000 people going

through, not the next 10,000 people who sign up because you're right, Jess, people are already doing nursing that could benefit them now? Second, pay nurses and literally all hospital staff better. Like why are we forgiving HECS debt when you could allocate that towards paying our nurses and our frontline workers more money? Why are we not talking about reallocating tax dollars to paying people for looking after us? Well, what is the answer to that, Bea? Why have they chosen this instance? Because it's the cheaper option. Education in Australia used to be free. Like I could not be in any debt. I'm grateful to be in HECS debt because I genuinely feel like it puts me in a better position and it puts me ahead. And I have chosen to do that. But

that's a privilege that is not extended to absolutely everybody in our community. And I think that the ballpark would change if universities weren't something that we had to pay for. There are lots of places around the world that do free education. Obviously, America is not one of them. That's really hard. But I just think there are so many things that we could do. 10,000 nurses, like okay I bloody love nurses you guys do so many beautiful things you are a better human than I ever will be because I cannot do that job like it would exhaust me but I just think that they should be paid better and that's the priority from my perspective not you know forgiving their hex debt so that they can go and get paid not enough to get a mortgage it's just not fair tell us more

about this Jess when's it coming into play what's the deal just tell us more so under the current plan, all new domestic students that enrol in nursing or midwifery in 2023 and 2024 will receive a scholarship up to $16,500 to cover course costs. Students will get $9,000 over the duration of their course and then the remaining $7,500 will be paid if they work in the public health service for two years. They're incentivising people to stay. To actually stay. Okay, I like that. Maybe you shouldn't have let me have an opinion so early on. They also have offered assistance to people studying post-grad studies in these areas. So intensive care, paediatrics, nurse practitioner specialities and things like that, they will be giving out $10,000 scholarships and $11,000

scholarships will be available for enrolled nurses to become registered nurses. So it covers off on a few different things. There's a few, I guess, working parts there, but I think overall it's great to see them supporting. I think you're totally right that perhaps it would have been even better to see the award lifted across the boards that everybody could benefit. But is something better than nothing in this situation, I guess, is the question. I think that's really true, Jess. It's nice. Obviously, we're going to nitpick and it's our role to do so. We're a finance podcast, but it is nice to celebrate the small wins. This is huge. For me, I would ask the question of where do you draw the line in terms of, I'm sure there's people listening that are

in other industries that are feeling like, well, why do I have a 50 grand debt for not doing that degree? And also, will it encourage people that aren't the right people for that industry to pursue that industry because of not having to pay more affordable option? Correct. So what do you guys make of that? Because nurses are like the most special people that there are. And if people are lured to it for the financial gains, is that necessarily the right thing? I'd be interested to see what happens and I guess maybe this is where you get that upfront and then that secondary coverage because nursing I would imagine is a very intensive course like I don't think if you're not cut out for I think it would be quite hard to make it through that course because

there's so much practical experience required before you go into the field yeah so you would hope that that would kind of weed you know anyone maybe who wasn't ideal out but then I don't know how that works because obviously there's not a great return on the government's investment if people are you know leaving the course and not becoming nurses so I don't really know how that would work I guess the point you made about people in other industries because there are absolutely other industries that work incredibly hard and provide incredible value yeah and that's kind of like the the thing that I was touching on before is it is really sucky and I guess it's I want to say it's okay to feel like it's sucky and to be a bit sad and to be a bit annoyed but also trying

to remember that this outcome is aimed at improving the lives of everyone it's aimed at stabilizing our healthcare system which at some point all of us will need to rely on and that's a good thing but also like I get it like I get that it's shitty because everyone would like a free education right I agree but maybe again controversial opinion I think that you know if I was prime minister I think all frontline workers should get free education like you guys are coming in contact with the public to put our community in a safer better position like I just think that I have been so lucky to be able to study finance and go do a business degree, but that's me pursuing my passion that is arguably a bit self-serving. It is me going, I'm passionate

about this. I'm going to follow that. If you're a nurse, if you're a doctor, if you're a PSA, if you're an early childhood educator, you are thinking about the needs of other people to begin with. You are doing your job for the greater good of the community. And I think it puts our country and our community in an even better position. Like people go into the police force and they're firefighters and they're AMBOs and they're nurses and they're PSAs and they're childcare workers. And I just, I just think that that type of career decision should be rewarded because it benefits our society as a whole. It's not something that, you know, again, very self-serving, but I did my degrees because I was following my passions. I obviously want to

have an impact. And like, that's what drives me. I'm so wildly passionate about putting women in a better position, but I would argue I'm not a frontline healthcare worker. And Jess, you and I have had this conversation before where we're like, we're so grateful for our jobs. Like if we've got our periods and want to go curl up with a heat pack in bed and work from bed, we've got that flexibility. You're a nurse. You can't do that. You have any type of frontline working job. you cannot let your personal needs outweigh the need to do your job and fulfill an outcome right like I just think those roles are so super special I do think you deserve a free education above and beyond me who was someone who just followed my passion and if nursing is your passion great

but it's what benefits the community and I think that that should come into play when this conversation is being had but again personal opinion probably an opinion not everybody agrees with. But we need these people to make our world go around. And over the last three years, we really learned that. So much in that conversation. Ladies, maybe it's a blog post. I don't know. We'll see. But for now, I think it's time to listen to today's Money Dilemma. Let's go. 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. Hey guys, just a brief summary. Me and my partner have been together for five years. He's got an investment property and plans to build a granny flat on the back. When we've been communicating about our future recently, he's told me that he doesn't want to have my name in that property because he's made it himself. Is that okay to have separate investments and how important is it to have that traditional split mortgage just because it's different to norms of society does that make it wrong and should I be grateful that I don't have to pay for much but that means that things won't be my name and if I am to do an investment property

in my own like how do I start and what does that look like for me and yeah I guess is that normal to have it separate or okay. All right interesting one my loves but one that I think you guys are maybe a little bit better versed in responding to because Jess. Yes. Talk to me. Yeah, look, there's really two elements to this question. Firstly, she's asking, is it a red flag that he doesn't want to put my name on it? Is that problematic? And then she's kind of asking, well, what does that look like for me if we do do things independently? So to answer the first question, I personally don't think it's a red flag at all. In fact, that's exactly what I plan on doing when I buy my brief. That's why I hand ordered over to you, my love. I mean, it's a red

flag if you had to pay for it and then you don't get your name on it. There are probably a few caveats here. And this is like the thing, right? And, you know, I'm not buying an investment property. I'll be hopefully occupying a property one day soon. But the thing here is he has done this on his own. He's purchased it by himself. And I guess we don't have all of the details in a sense of we don't know, is she living there? Is she not living there? I'm assuming if it's an investment, she's not. You know, if they're putting the granny flat on the back, are they planning on living in the granny flat? If so, will she be contributing financially? You need to all of that out. But I think that if someone has worked to do something, and I guess I'll use

myself as an example here, I plan on buying a house by myself. Queen behavior. Thank you, snaps for me. But I'm in the position financially to do so. My partner is still studying. It just is what makes sense. It just makes sense for your situation. Correct. But the conversation that we have had and that I've spoken about on the pod before is that, well, I'm so happy to do that. And, you know, we will live there and we've kind of had to work out what that model looks like. and ultimately he will contribute I guess rent but I will be responsible for the cost of the house like the rates and the the ownership costs so for him it will be like he's renting as he is currently and that's because I wanted to really clearly draw those lines in the sand and be like

god forbid if anything goes wrong I want it to be very clear that this thing that I have worked my butt off to do is mine and because that's really fair because if the flip like let's pretend you grow old together. What's it matter if you had that conversation and he was just paying rent that whole time, like that assets benefiting him in the long term. Thank you, ma'am. The reason you're structuring it that way is if one day something happens, you don't end up having worked your butt off to own a house that somebody else didn't work their butt off for and then they have half of. And it sounds like in this situation, our listener is on the other side of the table. This listener is my partner. Do you know what I mean? So like he's worked his butt off to have

this asset and he wants to protect that. And I think that is very okay. I think that they're doing the right thing in having the conversations about it now. That's really kind. Because, you know, you both have to be comfortable with it ultimately. I think it would be very different if he had said, hey, like I have bought this property and I want to renovate it and I want you to pay half the money for the renovations because then she has a financial investment and that's a different story. To get to, I guess, the other part of the question, what does she do? you do it like a single independent lady. You plan to do it by yourself. If you purchase it by yourself, and I'm obviously not a mortgage broker, definitely talk to one. But if you're

purchasing by yourself and you're not on the name of his property and you haven't been involved in another purchase, you are eligible for all of the whatever schemes or guarantees you fit the criteria for. So for example, the first home buyer's scheme or loan or whatever it is, you can qualify for that. Whereas if she was to go on his property, she would be excluded. So there are benefits in that sense. Obviously, it's harder because you are getting a loan as a single person, which, as I have found out, can be challenging. Yeah, it can be really hard.

But like you kind of just do the thing as you would in a couple, but by yourself. Does that make sense? Yeah. Look, it makes total sense. And to be honest, if we take away the fact that you're not going to own it because it's actually not yours anyway, as a detrimental thing here, we go, it actually benefits you. Jess, let's use your situation as a good example now. James is still at uni, doesn't make sense for him to buy, hasn't had the same capacity and full-time employment that you have, which means

you're going to buy. In the future, if you and James are like, you know what, we do want to buy a family home, you've got that asset in the background that you could use equity in to buy a family home together. So in the future, James, your partner could just decide to go and buy his own property, do his own thing, which you'd be more than okay with. But if you guys go, oh, we want to buy another house, but this time we want to do it together. That actually benefits you because it's an asset you can lend against, obviously with your full consent if you wanted to use that. But that means one, Jess, you don't have to save up a whole new deposit because there hopefully will be equity in the property that you own to use. But also it benefits James because

that security against that future purchase that puts him ahead and puts him in a more secure financial position. So I think it's not a bad thing. I think it's really beautiful to have these open, honest conversations. But I think it's also like, well, George, if you're going to go buy a house and I had nothing to do with it, like I shouldn't want to lay claim to that. And I think it's, you know, not that our listener is in any way, shape or form doing this. I could tell she wasn't by her tone of voice. I don't think she was like, okay, well, when I break up with him, I want half his property. But that's basically what he's trying to protect against. And I think that's so fair because I've said it a million times, not every relationship is guaranteed.

and here in Australia 50% of marriages end in divorce so you can never be certain like you don't get married with the intention of getting a divorce because that stuff is expensive I can tell you right now and I'm not even married yet but I just think it's such an interesting conversation because it can feel really personal like oh you don't want me involved Jess yeah oh you don't want me to be on your thing it's actually not a personal thing it's actually them putting themselves in the best possible position I think that's really healthy yeah and that in turn puts you in the best possible position. I think just, yeah, to add to that, V, which is exactly what you were saying,

you just need to take the emotion out of it. This doesn't mean that he doesn't see a future with you or anything like that. He's just protecting himself, which is exactly what we teach people to do on this podcast. If the situation was reversed, which it is for you, J. Rick, you know, we're clapping and cheering because that's amazing to take financial control. So, yeah, just take the emotion out of it.

Think of it really pragmatically. Maybe he's been listening to the pod, J. Perhaps he's a little fan. Because our listener question, she's clearly listening to the pod. And if she's been listening to the pod and, you know, was going to buy a house, I hope she'd be like, oh, Victoria's in my head. I probably should have this conversation. He's just doing the right thing, my love.

He's doing the right thing. I love that. But, guys, I think that is unfortunately all we have time for today. So, Georgia King, would you please wrap the boring but important stuff? Of course. Please remember, guys, that 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 a financial decision. And we promise Victoria Devine and She's On The Money are authorised representatives of In Focus Securities Australia, Proprietary Limited, ABN 47097797049, AFSL 236523. Quash, Mick. We'll see you guys on Monday. Bye, guys. Bye. Thanks for watching!