She's On The Money - How Do I Compare (And Close Old) Super Accounts?

Episode Date: September 3, 2026

Towards, away, or rotisserie-chicken style? It’s Friday Drinks time, and this week the gang are discussing all of the important issues; namely which direction they face in the shower. Join Victoria, Jess and Bec for this week’s best Money Wins, Broke Tips and community dilemmas that you might find particularly useful if you’ve been sleeping on super. Hear from the gang about whether it’s most fruitful to salary sacrifice weekly or monthly and what to do if you find that you’ve got multiple super accounts. Come for the juicy superannuation tips, stay for a continental cucumber redux. CLASS ACTIONS: Read ‘em and weep (happy tears, sad tears, you decide) over at the Fed list of current class actions fedcourt.gov.au/law-and-practice/class-actions/class-actions.  SEEK AND YOU SHALL FIND… LOST SUPER: The ATO Lost Super Lookup is here to help you be reunited with any lost super. COMPARE YOUR SUPER: Select up to four comparable products to view side-by-side against your current situation over here: ato.gov.au/single-page-applications/yoursuper-comparison-tool New here? Follow us on Instagram (@shesonthemoneyaus) for Q&As, bite-sized advice, daily money inspo... and relatable money memes that just get you.  Acknowledgement of Country By Nartarsha Bamblett (nartarshabamblett.com.au) 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 - 4451289See omnystudio.com/listener for privacy information.

My name is Natasha Bamblett. I'm a proud First Nations woman and I'm here to acknowledge country. T. Glynan Ganya. Neenakakakya. Neenakakai, you've been aakarumja, Duma, Duma'a, Ithawakhani, Nedaamun Dama. Mimalaan, Mawakana. Hello beautiful friends. We gather on the lands of the Aboriginal people. We thank, acknowledge and respect the Aboriginal people's land that we're gathering on today.

take pleasure in all the land and respect all that you see. She's on the Money podcast acknowledges culture, country, community and connections, bringing you the tools, knowledge and resources for you to thrive. She's on the money. She's on the money. Hello and welcome to She's on the Money, the podcast where we usually discuss all the issues concerning your wealth goals so that you can feel more in control of your financial future. But on Fridays we loosen our ties in favour of something a little bit more casual. Here on Friday drinks, you can expect entertaining questions from our community, the odd money-related dilemma and insightful yaps with our two favourite podcast co-hosts,

Miss Beck Sajic. Hi. Beck is a quotable conversationaler. Preserver of continental cucumbers. And a voice of the people. Oh, that's so nice. You do like a pickle. I do like a pickle.

And Jess is a partnership's savant. Pilate is enthusiast and sometimes soar. Together they'll be bringing you some money wins and break tips from the community because knowledge is power, my friends. So welcome to Friday drinks. Beautiful, VD. Did you know that you're a preserver of continental cucumbers? Oh, yeah.

It's a little callback to episode you missed. Did I miss it, though? Some very lovely hand gestures. Yes, well, in order to explain a cucumber, unfortunately, we need to... No, you don't. You just say, hey, guys, you know what a cucumber is? And people go, yes, I do, because I don't live under a rock. You don't need me to...

No, that's actually fine. Anyway, moving on, today is super. In fact, today's episode is super. No, really, it is giving superannuation. Specifically, what you might do if you find that you have multiple superannuation accounts and you just don't know what to do, turns out. We do. From comparison and consolidation to closing extra accounts,

we're going to be covering what to look out for in that process. We're also going to be discussing this week's money dilemma, which concerns superannuation, told you it was a super episode, and investing for retirement. Does it beat the share market? You're going to have to wait and find out. This week, we are living in the future, and we actually can't wait to see what it holds right after this break.

Welcome back, my friends. And you, you're back. in time for a five-star review. Are you ready? I know that I said we are living in the future, but this segment is all about looking fondly at the past and how you, our lovely listeners, have been receiving our podcast. If you have a five-star review that you are dying to be shared on the show, please leave it wherever you get your podcasts. My friends, this comes from someone with a great name. Their name is Beck. Are you ready? Ready. Beck wrote. I just wanted to send a shout out to you, Jess and Beck, and thank you for a series of

seriously awesome podcast. I started listening to your show in early 2025 when I was trying to find a particular podcast to show my 11-year-old daughter to show her how annoying it was. Don't worry, it wasn't yours. I played one of your pods thinking it was the one I was searching for, then five minutes in realized it wasn't and it was really good and I got completely hooked. Oh my God, that's so good. That's a niche way of finding us. We got you. You cover topics that other finance podcasts I listen to don't when it comes to things like the vagina. tax interviewing money diarists from all walks of life like the sex industry and I couldn't love it more. I'm now listening to the back catalogue guys. I'm up to June 2021. Hello from five years

in the future. And you've quickly become my favourite podcast of all time. Isn't that so sweet? I am so thrilled for you. And also thrilled that we made the cut of not being the annoying podcast that you were going to show your 11 year old. Totally. That's so nice. I firstly want to know what this podcast is. Yeah. Can you DM me? because I just feel like that wasn't enough information. I won't share it on the podcast. No, no, no. Maybe I will.

Imagine if it was really, really annoying. Yeah, well, then we, I wonder how long, because it took five minutes. I wonder if she was like for a little while. I was like, yeah, this is it. And this is what. Yeah, if it took five minutes, like, what five minutes were you listening to? And what were you listening for? Anyway, I'm so excited to find out with the, anyway, I did all the juice.

If you found it and you showed her, please also show us. Please. Right. Moving on, come to think of it, it would be a very spicy question of the week. Like, what's the most annoying podcast you've ever listened to? Oh, yeah, totally. But we're not going to do that. But here's one we've prepared earlier.

This one actually comes from a lovely friend called Nikita, and she asks, are you ready? When you get in the shower in the mornings? All the evenings. They go, we're ready. After a great start. We're already angry. Okay. All right.

Haven't even got them. Okay. I'll add that. Do you face the shower head so that the water is on your chest? Or do you have the water falling on your back while you face away? I think or do you have a third rotisserie chicken option and you go between the two? I was going to say rotissory chicken, but I think I'm mainly away, away into the side. Oh yeah, I'm a side.

Yeah, I'm a side. I think I'm a side. I think I'm not facing the head and I'm facing sideways outside. But also I have a bath shower, you know, so I feel like there's not a lot of... Limiting your options. Limiting, it's quite limiting. So, yeah, I think. But I also do dabble in a rotissory chicken.

Yeah, okay, okay. All right. What about you guys? Rotissory chicken all the way. I think, like, I've got to wash my face and I've got to wash my hair and I need to be facing two different directions due to those activities. I think I mostly face the front, like face the shower with like a little wishy-washy motion. Oh, yeah, yeah, yeah. Yeah, yeah, yeah.

Moving because you need to get one shoulder under. Yeah. I mean there to be warm, you know, it's 10,000 degrees in my shower. I want to feel it. So no standing to the side for me. But yeah, I think it depends on what part of my body I'm washing. Because I'm washing my face, I'm facing the thing. If I'm washing my hair, I'm facing away. If I'm washing my back, I'm facing away. If I'm washing my legs, I'm facing the thing. Don't know why. It's really insightful. Yeah.

Oh, actually, no, yeah. You want to get the front leg. Yeah. Yeah. Okay. And it's so funny because it's like the shower, it will reach your front leg. by the way, but something about it psychologically, like, you won't reach the front leg unless you're facing it. Yeah, I don't know what it is. I don't know. I get it. It's a very particular thing. Did you say if you're a morning or a night shower? Sometimes I forget for days and so, and then it's like middle of the day because I'm like, oh my God, I haven't done this in a while until it's the middle of the day. So I can't exist without a shower at night.

When I'm doing a bit of self-care, it's a night time. But if it's like, you know, functional, it's probably morning time. And you? I'm a, I can't get into the bed dirty. Yeah. So it's like a decontamination. shower and hair wash day like only every power of many days. I see. I see. Yeah. So, thank you for asking.

I have been waiting for this time to shine. So I shower every single night before bed because same as you, I just can't get outside germs in my bed. I also have to wear pajamas in bed. That's a completely separate segue. We can ask the team about that another day if anyone's interested. But if I'm washing my hair, it's in the morning. So like I would never wash my hair at night. and I'm a bougie lady.

Guys, I actually have two different shower heads in my shower. We have the rainfall shower and then we have the like handheld shower head. So at nighttime I'm only using the handheld because I do not want the rain shower stuff. Because like I'll end up with a sore neck if I'm like trying to keep my hair out of that rain. Yes. Anyway, this shower cap. So wildly out of touch, but that is fine. No, no.

I'll just use the shower head one. And so I use that like it's obviously still attached to the wall. And then, yeah, shower at night, get out, deodorant at night. Yes. Yeah, and then get in bed, cool. And then in the morning, if I need to wash my hair, I will wake up an hour earlier. Oh, no. And wash my hair and blow dry my hair and do everything that I need to do

because I just want to make sure that I'm not like trying to rush my hair so that I can get out. But I only wash my hair like once or twice a week, if that. So fair. But what about root-to-three chicken? Yeah, I feel like with the shower head thing, I like face it. Okay. And like I'll turn to like rinse my back and stuff. But like if I'm getting in the shower at night time because I've had day germs on me, I get in, I face the shower head.

Yes. And I wash my face. I brush my teeth in the shower. Is that? No, I do. That's acceptable. Not for me, but that's okay. Is that acceptable?

I think it's not. I think it's. No, not for me. The only time I ever do it is if I'm coming in a rush. in which case I will, but otherwise I don't love leaving it in there. What? I brush my teeth over the sink. No, my toothbrush lives in the shower and there's like a whole oral care process.

Yes. Of tongue scraping, water flossing, normal flossing, toothbrushing. That all happens every single night in the shower. Yes. In the shower is so interesting. Well, I enjoy it more. Yeah, because you can get all messy. Because I'm just hanging.

Well, no, no, no, I'm not getting that messy. But I'm like just hanging in the shower because like my oral care, takes a long time. Yeah. Because I have a proper like copper tongue scraper. Then I have my water flosser. Then I do normal floss. That's a whole five minutes in itself.

I do think it's not. I think it's not. No, that's true. I wouldn't have existed well in a drought. That's a really good point actually. We need to think about the environment. But sometimes like when I clean the bathroom or the shower or something, I'm like fully naked because you want to get like,

you want to get things everywhere. It's the same when you're like brushing your teeth. You're like, you don't want to be making sure that you're not getting too much of things. So you strip down and you go crazy in the mouth. Do you know what? I always, and like I hadn't really thought about this until I made that video on me cleaning my toilet that somehow went viral and made the Daily Mail. I've done so much in my life. And yet that's what's helping me shine. I usually clean my toilet right before I get in the shower. Yes. Because I'm just like, oh, I don't really want to clean the toilet. And I

actually clean the toilet a couple of times a week. So I always like do the bleach and the scrubby scrub as the shower is heating up. Yes. And then I get in it and I feel like none of the toilet germs are on me anymore because I've had a full shower. Anyway, I feel like that's enough toilet talk. What do you reckon? Agreed. But also, turns out I've never had an original experience in my life.

Like, I was like, oh, it's real niche that I brushed my teeth in the shower and you're like, no, it's not. Sit down. Hey, maybe we're both unique. We are. We're unique in exactly the same way. Exactly. Same way.

So nice. Anyway, we're always on the hunt for more questions of the week. We're actually insatiable like that. Please send them on in. Our DMs are always open. Speaking of which, this week, we'd actually received a money win in our voicemail inbox too. So we've got a little voicemail box on the she's on the money website where you leave your money dilemma.

But this person left us a money win, which I absolutely loved. So occasionally the inbox where we get our money dilemma features, the odd review and casual tip bit rolls in as well. But this week, one community member told us, via voicemail that they'd negotiated a 0.2% drop of their mortgage interest rate. It doesn't sound like much, but in this economy, that is massive, that is huge. So I just wanted to remind people that that exists and you can call up your mortgage issuer at any point and ask whether they're willing to negotiate. Good idea. But Jess, what money wins can you share with us

from the week that was? Well, lots made it to the thread this week. First, I've got one from Ashley, who said my husband entered a competition through the good guys a couple of months ago. We received a call recently saying he'd won. Amazing. We got a new LGTV, a sound system worth over $5,000 on its way to us, and we cannot wait for the upgrade. Amazing. Love that.

Then Amy said she had a promo for new customers at Woolies where you would get $50 off and an app promo for $20 off if you spent $200. Needless to say, her partner now has a Woolies account. They click and collected the order and with the usual specials, those extra deals, etc. are they saved over $100 on their groceries this week. Love. Gorgeous. How good when things stack.

Madison said money win. One of my lovely neighbors dropped off a wheelbarrow of hardwood for us to use in our fire. We have the best street and I love all of my neighbors so much. I just thought that sounded very wholesome. That is very wholesome. I love the idea of their community. And wood is so expensive. Yeah.

Like if there's someone who's got extra stuff left over from something or it's just nice to check in on your neighbors see if they need it. Jamie said she lives off the disability pension. and her share dividends, and when she worked out her budget for the last financial year, it looked like she was basically going to break even. Turns out she earned more than she spent so that extra money has now gone into her emergency fund and she officially has her first emergency fund. Obsessed. Well done, Jamie.

That's awesome. That's my favourite one. Yeah. Are we our favourites? I don't pick favourites, but you can. Rood. It's like I can't pick a favourite child, do you know? Exactly.

You don't even have children. Yeah, you guys. It's weird to call it. be my children, but I feel a lot of love towards you anyway. That's cute. Jill said money win. She cashed in her cans and got over $100 back, which is crazy. I can only imagine how many garbage bags full of cans, that is.

And then lastly this week, Jaspreet said they set up a compost heap for the beginnings of a terraced garden and with all of the grass clippings and the greenways from the kitchen. There's a really nice compost pile for spring gardening. Compost is so expensive when you get it from bunnings and garden stores and it very quickly adds up and she also used chicken wire that she found on the side of the road. Amazing. So a double win. Hell yeah.

Love to see that. And a good way to use all your scraps and turn it into something good. For sure. Love to cash in these cans, that's for sure. Okay. Do you guys want some brick tips? Absolutely. Thank you.

What I'll do is I'll start with one from someone that we maybe know, Indy, who used to produce every now and then. Shout an Indy! She can come back. Shout out to Indy. If I could have Indy back, I absolutely would have Indy back. Well, I would make a call after this. Okay, thank you.

So Indy has a really clever one. So she says that she checks what class actions are out and about and joins all of them. You never know what you could get. So like let's say right now there's a class action for RoboDet. Yeah. There's a class action. Yes, as well. Qantas and some random ones for J.B. Hi-Fi, like bits and pieces like that.

And it's often for your bigger products, like let's say like MacBook or something like that. And, you know, who knows what they're for and why they exist. but sign the hell up and you never know. You might get 20 bucks here or there, you know? I got a big payout from Optus actually. Really? Really? This year.

How did you get that? Well, so this is, have I mentioned this on the show? Four years ago when we went to Europe, there was this all this drama because I went in, they told me that my sim, like, I went to pause my sim because I was going overseas and I was going to get like a different one. They're like, oh, you can just use the one you have. And I was like, won't that be really expensive? They said, oh, you'll get updates, like, as you've used your data, so you can decide.

And remember, we would get home at the. the end of the day and I'd get like all of a sudden 50 text being like, you've used 25% of your data, you've used 50% of data, you've used 100% of your data. We've added $10.50. Yeah. And so like, I came home and my phone bill was nearly a thousand dollars. Whoa. And I freed out and I called them and I tried to negotiate it down and they negotiated it down, but they didn't like get rid of the full cost. Right. There's also been like issues for me with like coverage and all these other sort of stuff. Anyway, I filled out the form. Somebody called me. I wasn't really sure if it would work or not. And then, yeah, I got, I think, like $3,000.

Wow. Just great. Incredible. That's so good. Well, stoked for you. Thank you. So there you go. There's an experience firsthand.

Yeah. I actually don't know where you'd find them, but maybe just Google class action and see how you go. This next one comes from Ria, who says, Plex or Streamio are free and you can basically get any movie or series on there. I always use Streamio. You guys probably have heard of Streamio? I have not.

Oh, FD. Oh, FD. Oh, you've heard of Plex. I've heard of Plex. I've heard of Plex before. But stream you, I guess, combine the two. And they're free. And you just like go on, you search something.

You'll find it. I mean, they're legal, but some things on their like bootleg. So who knows? Don't ever with those ones. But it's incredible. So get rid of Netflix. Well, do it every want. And streaming services add up.

They do add up. These subscriptions, like I do not like subscription culture. No, exactly. And then my one, you can now transfer your existing bond to your new bond. This is Victoria, I should say. So you don't have to pay bond and then wait for your last bond. to come back through. So that's so nice. Yes. I think that was July 1. July 1. Sounds like I was saying that backwards and reversed it. July 1, I think, is when they started doing that. So yeah,

you can sign up for Elise. I hate that feeling of when you're moving into a new house. And you've got to come up with a whole heap of cash just for a short period of time that you arguably don't even have. Exactly. And also like double rent probably at the same time. Yeah, it's just exorbitant. So now you can transfer that bond over. That's awesome. Oh, I love that. I feel like that's a very good tip, Beck. And I love what you come up with and what the community DMs you.

Yeah. Sometimes very unhinged, but also sometimes perfectly positioned for the show. I agree. So keep them coming in. And also, for those of you who don't know where to send a broke tip, we have a whole thread every single week on the Facebook group that Beck gets to peruse and have a look at where everybody shares their broke tips. And if you haven't joined, my friends, you are missing out.

All right. But after the break, something super. So 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 podcast. money dilemma. Hey, long time listener, I love you guys. I got a question about superannuation and investing. Am I better off just putting money into my super weekly or monthly instead of investing? Because at the end of the day, if I grow my investment portfolio, isn't that just going to get

taxed a lot compared to my super, which I want to use that investment to like retire early anyway? So what's the difference between that? And am I better off? just putting it in my super. Thanks. I told you we had a super question, but I'm not going to answer first, even though I really want to. I'm not even going to ask you, you're eating a lolly. It's just gritty. Yes. Are you also eating lollies? No, I ate mine already. I was very quick. I'm nothing if not efficient. My mouth is ready to eat up. You had me until you said you wanted to retire early. Yes, same. So the thing with superannuation, you need to do the math. Obviously, there are tax benefits contributing to super. You're correct.

that any dividends or income derived from your owned investments you owe tax on. You do also technically pay tax on them in your super. You just don't see the visual. You paid it 15%. Yes, exactly right. But outside of all of that, the big thing is any money you contribute to super, generally speaking, you can't access it until you reach the age of retirement, which I think is currently 65. Yes, the age of 65. The age of preservation is 67. Oh, there we go. So if you want to retire at, say, 40, that's awesome, but you can't access it. But you can't access the money that's in there. And so if the goal is to be able to fund early retirement, I think that investing probably is the way to go. That's not to say that you might not contribute to super at all.

It might still be a part of your strategy because, like I said, there are tax benefits, but not being able to access those funds puts a bit of a kink in the plan. Yeah. Absolutely. Absolutely. Beck, are you just going to say what she said? I'm going to say exactly what Jess said. And I'm going to say, I agree with Jess. And why not split up the two? Because sometimes it is nice. We might think it's good to just in case have access. But if you're anything like me, it's not good to have access. And so, you know, a bit of half half. I like that as well because you're like,

if I can't be trusted with it, lock it away. Exactly what Jess said. Like, you're not going to be able to access that money into your preservation age. And your preservation age is when you don't have to pay tax on your super to access it early. Obviously, you could access it from 65. But for me personally, I don't want to have all my eggs in that basket and have to wait. like, as I've said a million times, age is a privilege that is denied to many people. And I feel like having an investment portfolio outside superannuation is really powerful. Like in a perfect world,

guys, I'll be retirement ready by the age of 45. And that would, you know, be really nice. But that means from the age of 45 to the age of 65, I've got to be completely self-funded if I wanted to retire. Like I have to, you know, have that money in an investment account or in savings to be able to retire because I can't touch my super yet. So it's completely up to you what you do. You might go, but Victoria, I just don't want to touch it until then. And this works for my goals and my system and my strategy. Go off. You can make concessional contributions to superannuation, which is really cool. And you could get some tax back. In fact, Beck and I recently recorded a whole episode on doing superannuation contributions and what that could look like for retirement. So that might be of interest to

you, but investing early for retirement for early retirement would mean that you're probably not using the superannuation environment just because purely they don't work together. Early retirement and superannuation reliance, like don't work. It doesn't work. It just doesn't work. And that's not advice. That's just fact. True.

There you go. Anyway, the super sleuthing has continued into our DMs, guys, where one of our community members has, I'm going to make this sound illegal, found themselves in possession of multiple superannuation accounts. Oh, yes, we've been there. It happens, honestly, more than you think. It happened to me. I'm pretty sure Jess was in that situation.

I wouldn't be surprised if Beck has had that too. Why are you laughing? You still got more than one super account? Possibly. No, I don't think so. I think so. I think so. I think we, I mean, you fixed that with absolutely no external advice.

No advice. No advice. No, no, no. Anyway, would you like me to read it out? Yes, please. Okay. Hi, Victoria, Beck and Jess. And there is six exclamation points.

I have a money dilemma. I desperately want to hear your thoughts on. I'm in my late 20s and I recently started a new job after a few years of bouncing between casual and contract roles. Congratulations. While filling out all of the paperwork, I realized I actually have three different superannuation accounts from old employers. I always hear Victoria mention that having multiple super accounts can mean that you're paying extra fees so I know it's something that I probably should sort out. The problem is, I have no idea what I should actually be comparing between each of the accounts before making any decisions and it feels really overwhelming so much so that I have done nothing. Has anyone else been through this what? Did you check first six question marks?

Do you remember I'm feeling the enthusiasm and I'm loving it? I am here. Well, that's why I had to read out the question marks and the exclamation points because I was like, this divan needs help. ASAP. Yeah. Five exclamation points. And we are here. Exclamation point. So fair. I think like I can't remember what I checked when I was I consolidated. This definitely is not the way to go, but I think I went with Vibe, you know. Oh, yes, yes, we should manage our finances based on vibes. Based on Vibe.

So I went with Host Plus, but it was Vibe, but also like something about an industry super fund I quite like. And maybe someone else said that. Maybe that was you, Victoria. No, that was not me. Not Victoria. If you went with Host Plus, that wasn't me. Not because I don't like them, but I wouldn't have made a product recommendation.

And that's not who I'm with. So I actually don't know where that would have come from. Not Host Plus industry. I'm sorry, that was my other smart friend. Oh, yeah. Something about industry funds. Anyway, so I went an industry fund and then also went with Host Plus. But I think then also I was like, I didn't really look at fees, which is probably a bad idea.

Yes. But I did look at the rate of return on some of their, you know, they've got their like their ETFs, I guess I want to say. There's like, you know, their funds. Their funds, you know, your high growth, et cetera, et cetera. And I guess like at that time, I didn't really know too much. So I was like, oh, this returns a lot. and I kind of joined based on the returns of their funds. And I'm happy with it.

So far, so good. So far so good. But I think, yeah, you can look at the insurances that it comes with and the fees. And, you know, I'm definitely not this kind of person. But you could also call up and have a chance to a few places if you wanted to. But I probably wouldn't do what I did. Yeah. We've all been there.

Like when you start a new job and they say, do you want to use our superfund? you just tick the yes box. And then that's a suddenly find us out with five different super funds. Exactly. There's a tool on the MyGarva or ATO website. It's on the Australian Taxation Office website. It's called the Your Super Comparison Tool. Yeah.

Nope, not what I was going to say, but yes, there is that. What are you going to say? I think it is on the ATO website when you log into your account that will check if you have multiple super funds. So if you haven't been keeping track of all the details of everything, if you log into your, yeah, your MyGov or your ATA platform and you plug your information in, it will run a search. for you and list all of the superannuation funds that exist under your name.

Yes. Now there is a button there that says consolidate all. We would typically recommend you don't do that until you've done your research, looked at your fees, looked at your insurances is a big one we talk about a lot because, you know, if I got put in a super fund when I was 18 years old and I just got the, you know, the young, healthy, great insurances. Yeah, the default stuff that you can't just get anymore. Yeah, probably a lot more appealing than what they would give to me now at the ripe old age of

32. No, but they used to give insurance away in a cereal box, basically. Yeah. And now you've got to jump through a million hoops. Yeah. So I would look at what is covered in your existing funds because that may play a factor. If there's something, as Victoria said, that exists there now that you wouldn't be able to get to move funds, it might be worth preserving that. So there's lots of things to look at.

But it's not as hard or as overwhelming as you think, I will say. Like, don't let it sit on your to-do list because it seems really hard. It's truly very easy. Also, do you want to know a little fact? Absolutely. I still have and will continue to have two superannuation funds. There you go, because one of them has good insurances. One of them has insurance in it, and I've left enough money in that super fund to maintain

my insurance and, like, pay the insurance fees. I don't contribute to it. And then I have the superannuation fund that aligns with my values and my goals and I'm really happy with. And that's the one I contribute to, but I didn't want to get rid of my insurance is in my first super. Yes. So we're always like, don't pay multiple fees on multiple super accounts. And by lowering the amount of money that I had in there, because I'm only paying fees

based on how much funds I have in there and I get to keep my insurances, that actually works out really well. But that's not my main, like, super fund. And if you're not sure what to do, I should say as well, because I actually had mine looked at when I did all of my insurance as I did it with our friend Phil from Skywell. You know, we love. He's wonderful. Yeah, Phil did all of that for me, Jess.

Oh, perfect. I just assumed you would have done it yourself. So I did like do it, but when I moved over to Phil, because like, honestly, the plumber always has a leaky tap. Yeah. So I just think that even though I can do it myself, having a professional to manage it, I was like, pop off, Phil, you do everything. He manages everything for me.

And I am much happier knowing that his finger is always on that pulse because mine has gone slip. Yeah. So if you are thinking about doing your insurances anyway or if you want somebody to look at it, they can do superannuation as well. That's what they did for me. And so it was really handy because they kind of said, this is what we would recommend for you. This is why we would recommend it. You can absolutely do it yourself.

But if you're someone who does go, oh, I needed experts opinion, it might be worth speaking to them because it's a lot more affordable than, you know, normal financial advice. It's a couple of hundred bucks. Absolutely. And then also, I'll go back to that tool. I accidentally plugged the loss of the one that you were talking about. And that is the your super comparison tool, which is on the ATO website. And it helps you compare super funds based on their performance. And I think that this is from my perspective, one of the best comparison tools because it is not product based.

Now, I just Googled it because I was like, I wonder what comes up when I Google ATO super comparison tool. Because like that's what a lot of people are going to do. The first few results are sponsored and they are sponsored by products. Don't click those links. Don't click those links because they are just going to show you either their product or their comparison website. which only has marketed super funds on there that are paying to be on those comparison websites. Scroll down past the sponsored results and then you're going to see the ato.gov.com. And have a look at that tool because from my perspective, it's not going to be biased.

Not even from my perspective, just it's a fact. It's not going to be biased because it's just run by the government. And the cool thing about the your super comparison tool is you can select up to four different products to compare and contrast on the one page and it'll like kind of just do apples with apples instead of like comparing apples with oranges which can happen. And when I say that, I mean one super fund on their website

might say, oh, Jess, the fees are X amount. And on another website, it might say, oh, the fees on this different super funder, why? And you go, well, why is much less? But the first website had included their insurance fees and all of their fees, whereas the second website was only comparing one fee. So like, you're not getting the full.

picture. So anyway, the your super comparison tool works. You can also, and this is where Jess's tip and my tip actually link together, you can log in to your MyGov website on this website and it will pre-fill your supervalence for tailored results. There you go. Very cool. And you can access your super accounts all in one place through the MyGov website and you can also transfer your super and consolidate your super or change funds through that in a very, very easy way. And obviously I'm not going to recommend it without looking at your insurances and stuff, but that's a really easy way to do it. And then the ATO also issue the top five performing funds each year and then the bottom five performing funds each year. So like I would every year, if I'm doing it myself, check the bottom

five performing funds and make sure mine isn't one of those. Yeah. Fair. And then if you've really got analysis paralysis, have a look at what most people are looking at. Go, all right, well, I know that the top five funds are this. I'm going to start there and do my research based on that. Cool, which kind of helps. The other thing I would say, and I wrote this in my very first book, and I've said this for a really long time, don't base your decision just on fees. Yes. Pay peanuts, get monkeys.

I would prefer to pay a moderate fee and get really good performance and really good benefits than try and get the cheapest super fund that ultimately impacts my returns over the long term. Yeah. Especially with all of the instability in the super world as well. we've seen a lot of funds close over the years. So it's, again, not the right choice to make, but looking at really established funds might be something that you take into consideration. Yeah, true.

Yeah, 100%. And it's going to look different for everybody, but that, my friend, is where I would start. What did everybody else say? We obviously asked the community. And the first question I wanted to know was, have you ever discovered that you had more than one super account? This shocked me. Only 51% of you said, yeah.

Really? Right? Maybe some of you just don't know. I want you all to go log into your ATO account today and check and report back. True. Maybe not yet discover it. Exactly. Then I asked if you were comparing super funds, what's the first thing you would look at?

My queens. My queens, Jess. Guess what? 42% said investment performance, insurance and options. Great. We love this. 30% said fees, which important, but not the most important. Like, again, that's my personal opinion.

fees are the most important for you, in which case keep going on. And 26% of you said, I have no idea. Honestly, fair enough. Yeah. The transparent queen. Yeah. We then asked, have you ever delayed sorting out your super because it felt overwhelming at 62% of you said, heck yes, I have. We then asked, my friends, what is your two cents? A lot of people said, ethics, it's really important for me to weigh those up. And then I look at performance options and fees. Pop off. Someone else said, when MyGov came about, it made it way easier to roll over and review things before that, not so much. So maybe if you haven't experienced it recently, go back and look.

Another person said, it's super easy to consolidate SuperimmyGov. There you go. Surprise. Another person said, I actually used AI to help me evaluate fees, performance and insurances to simplify my understanding. Just remember, sometimes AI gets it wrong. Yes, I was about to say, have it cited sources, please and cross-check them. Yes.

Yeah, and don't rely on it for recommendations. I am seeing so many people go, oh, I just got CHAPT to do a financial plan. And I'm like, oh, pop up. Like at the start when I first started hearing this, I was like, that's genius. Why didn't I think of that? And then I started looking at the financial plans that you guys are sending me because you're like, oh, hey, I did my financial plan via, you know, chat GPT. And I can't give you advice.

But if we're having a yap and you're like, I'll send it to you. I'm like, yeah, I'll have a look. Thanks. I'm like, oh, this is not good. I'm really sorry, but like, this actually is not good advice. In fact, some of them that I've seen, the tax was completely out, completely incorrect. I've seen ones recommend funds just because they came up as like the first options on Google. And platforms like ChatGPT, and I don't know if everybody knows this, but ChatGBTGBT just sources all the information from Google.

Yeah. Amazing. And sometimes when you Google something, the first web pages that come up are Reddit forums. it then uses the opinions that are shared on Reddit forums as gospel and then uses those as facts that it then feeds back to you, which are completely inaccurate. Oh, okay. So let's be really careful when using AI. I think is a great research tool, but it's just a step in the process. It is not the process.

Someone else said, use an advisor. Then they said, use an advisor. I spoke to Phil from Skywell. Oh, shout out, Phil. We love Phil. We love Phil. Another person said, would love to know how you can build super, how you can invest your super further. And I think that's a great question, my friend.

And why we have a whole playlist on Spotify about helping your superannuation. Another person said, research, research, you don't have to make the decision in a day, which I thought was really cool. Yeah. Because like I think a lot of us go, this afternoon, I'm going to sit down and do my super fund. Like, why don't you sit down and just like have a look at a few different superfund websites and start the thought process instead? Another person said, I would always look at performance, then weigh up the cost, then check customer happiness. I always Google the fund to see reviews. Yeah, that's a good call.

That's a good call. But also, again, I feel like I'm caveatting everything today. Beck, when have you ever left a review on something on Google? Only when you're really, really, really happy or really, really unhappy, right? Yeah, true, true. Not when you're like, yeah, it's a great super fund. I've got not much more to say because it did what it said it was going to do. That's true.

You're getting the extremes. Yes. So let's just be careful. with reviews and then someone else said, please, please, please double check the insurances inside your super before consolidating. If I've listened to enough, she's on the money. I know this to be true. Big snaps to you, friend.

That my friend is where we're going to leave it. And I mean, there's so many resources out there. As I mentioned, there's a whole Spotify playlist on superannuation. We've done whole episodes on super. We talk about it all the time. But your super comparison tool, I think, is a really great place to start because it's run by the government. it's not going to give you advice,

but it's going to help lead you down the garden path in the nicest possible way. And like sometimes we don't realize how hard it is to do these things until we start to get into the weeds of it. And that's where we can rely on tools like that to help keep things clear. All right. Well, thank you for joining us for this,

can I say, supercharged session of Friday. Get one more in there, go on. Thank you guys. I really hope that this episode has left you feeling inspired to revisit your information. investments and maybe triple check whether you have lost super lingering in there as well. And please make sure that you're subscribed so that you never miss an episode and we'll be back next week, bright and early for a brand new money diary and then some.

Cheers guys and have a great weekend. Bye guys. Bye. The advice shared on She's on the Money is generally 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.

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