She's On The Money - I’ve Been Sent $10k. No Description. What Now?

Episode Date: August 27, 2026

New intro, who dis? This week’s Friday Drinks is hosted by Victoria Devine, your favourite linen lover Jessica Ricci, and budding ceramicist Bec Syed. During this episode, the gang will be bringing you the very best Money Wins, Broke Tips and polarising opinions of the week. They will be having a heated chat about superior sundae toppings and whether choc mint is ever a welcomed flavour sensation. They’ll also be covering your Money Dilemmas concerning debt, and a mysterious deposit of *checks notes* $10k. Very saucy indeed. And we’re not just talking about the hot fudge in your sundae. Tune in for compelling arguments for putting your Mint Slice in the fridge, and validation for folks with misophonia (specifically an aversion to chewing sounds) but for food wrappers. #strawberrysundaegate PAY IT DOWN, BABY: Debt diminishing episodes delivered straight to your ears over here and at https://open.spotify.com/playlist/02sw2NObvt18jd0ayvIHn3 SHOW ME THE MONEY: No rly, show us your coin collection over at our Facebook Group (Search for: ShesontheMoneyAUS) AKA the ultimate support network for money advice and inspiration. Ask questions, share tips, and celebrate your wins with a like-minded crew of 300,000+. HOW TO MAKE YOUR RICHES, MAKE RICHES: A lot of what the rich do is stuff that’s actually learnable. We break it down for you over here on the blog. Search ‘richer’ at shesonthemoney.com/blog  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 Bamblit. I'm a proud First Nations woman, and I'm here to acknowledge country. T. Glyniananganya. Neenakakakya. Neenakana, you've been aikarumja, Duma, Duma'a, Duma'a, Ithawakken, Nitaamun, Amalan. Mouban, bama in a nayanwaka, Garnan Yakramja, Wutanah.

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, my friends and welcome to She's on the Money, the podcast where we usually discuss all of the issues concerning your wealth goals so that you can feel more confident

and in control of your financial future. But on Fridays, we park the more serious topics in favour of something a little bit more casual. At 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-Syad and Miss Jessica Ruggia. Now, if you aren't already acquainted,

Miss Beck-Syad is a casual worker, part-time holiday and lover of ceramics. And Jess is a full-time partnerships gal, part-time ballerina and linen sheets enthusiast. That's fun. Together, they will bring money wins and broke tips from the community because together knowledge is power, my friends. And welcome to Friday drinks. Did you like my little intro? Yes, I like that.

We have a heap of new friends. And I was like, we probably should introduce you. Oh, true. You love ceramics. You love linen. It makes sense. That's so cute. And everyone's in a while we can just change it up and make it so funny and random.

I'm on to it. A big girl. But someone messaged me and they're like, Beck and Jess, they never seem to have like, you know, really strong financial opinions. And I was like, yeah, that's my job. Yeah. We've got linen lovers queen here and ceramics queen. And sorry, really smart women.

But you're not the finance experts. No. No. And we don't claim to be. Honestly, they bring the vibes. Anyway, I've been informed that this week's dilemma is a little bit peculiar. In fact, this person has come into a sum of money and is asking for the best way to invest it. And the community has also shared a pretty stellar DM with us concerning debt and whether it's best to pay some off and park the others and what you should do in that situation.

But before all of that, you know what time it is? I'm keeping this normal. It's time for a five-star review. Yay. This one comes from Katie, who writes, Love the Pod Guys. I've learned so much from just listening on my walks or in the car, and it never feels preachy or overwhelming.

We should try harder. We should be. Definitely one I keep coming back to every single week. I love it. That's so nice. Thank you so much, Katie. We need to try harder to be preachier. Thank you so much.

That's so sweet. Exactly. And thank you for sharing all those moments with us and all of the moments in between, Katie. We are so glad to hear that those, I guess, money facts are coming in loud and clear. My friends, if you've got a review to share with us but haven't written it yet, now is your time to shine. Please get typing and share your five-star reviews with us on Apple Podcast or Spotify or wherever.

Honestly, we read them out if we get them in a DM. We read them out if we get them in Beck's DMs. I'll take them, however, you will give them. And we love hearing from you. Plus, you might get a shout out in next week's episode. But before we get into it, let's go to a really quick break. All right, guys, we are back. Beck, Jess, it is time for our question of the week.

I love this part. We put a call out to our Facebook community to share their best non-finance related questions for us. And they never, ever disappoint. This week's question is quite polarising in certain circles, but I'm sure we can bridge the divide here. Are you ready? Chock mint. Is it a refreshing flavour sensation or?

toothpaste showing up in your ice cream on a minute. Huh. I don't mind it. What I do like is a mint slice, the chocolate biscuit. That's exactly what I was going to say. It's like I would never pick up a chalk mint ice cream as my ice cream of choice, but I don't mind a mint slice. Do you keep them in the fridge?

The mint slice? Yes, you have to put them in the fridge. Is that so? Oh, you both need canceling. Mint slice and caramel crowns both live in the fridge. Okay. But the caramel, no, it's hard. It goes chewy.

I guess. So, I don't know. I like my chocolate's a little soft and melty. Yeah. I like a little soft too, personally. Exactly same. I'm going to go mint sliced biscuit. I would actively crave one of those.

But I've never craved a mint chocolate outside of that. And that includes mint chocolate ice cream. Because like why, if I'm going to get a dessert, an ice cream, I'm not, like, that's kind of silly. There's a million others you'd pick first. There's a million others. You're not going to go with a mint. Wait, hold on, hold on, hold on. Are we not all going to the movies and getting a mint chock top?

Controversial opinion, I don't like a chock top for the movies. I'm saying. Really? Yeah, I don't like it. Are you too all right? Are you all right or no. They're so messy to eat. Yeah.

Why are they messy to eat? The chocolate falls off. I'm a messy eater. Like, I just, if I'm eating an ice cream in the dark, I'm coming out with ice cream on me, I fear. And beyond that, I hate people crinkling the wrapper. Like, if you're in an ice cream, you'd better have opened that before the previews of start. If the movie started and you're unwrapping your chock top, I'm internally screaming at you. I would never turn around to do it, but on the inside, I am.

And that's a threat to get you. Jess. Okay, so my hierarchy of chock top flavors. Please. Mint chock chip at the top. Boys, Embry, bottom. No, so I was going to say the only one I would eat would be Boisenberry. No, Boisembery at the bottom.

And you know why I said that? Because I knew you would jump in and say that Boisemberry was your favourite. Because this woman, if she gets an ice cream from McDonald's, her choice is strawberry Sunday. Okay, well, that's crazy. I fear that we've lost up. Don't maybe put it on the Instagram again? She wasn't around. That was Georgia King.

Wow. Georgia King and I tried to boycott the Strawberry Sunday. But your caramel, no? Oh, yes. No, I don't. So you can't even talk to Jets right now. Because those are both insane. Obviously, chocolate Sunday.

Obviously you get chocolate Sunday. I was so convinced that I was right. I put it on our Instagram. I pulled it on our Instagram and I said, guys, like, which is the superior flavor, obviously strawberry. Like 3% of people agreed with me. And that was it. And if you've been here from the start, I think you remember Strawberry Sunday Gate.

Because it went on for a couple of weeks there. And then when I was pregnant with Campbell, I had to eat my work. because that's all I wanted to eat. Interesting. And now I'm not pregnant. I'm back to usual programming. And that's crazy, Jessica. Interesting.

If anybody, all my strawberry girls out there, we ride. No, we don't. No, we don't. There's probably zero people that are listening and being like, We ride. We also had a similar debate coincidentally in the Zella office last week because I went to the supermarket and realized they have a whole heap of different flavor Oreos. And so I bought a whole heap of.

different packets of Oreos for the team to try. Did you know they do a sour patch kids Oreo? I don't think I'm into that. I'm not into it either. It smelled like lime and it tasted like sherbet. No, thank you. But they had a chalk mint one. I can see that being good.

Yeah. And so I brought it into the office and I said, guys, these were $1.60 at Woolies. Money wins. So I bought all of the flavors. Yeah. And I've brought them to you for a taste test. Yeah, okay. And then a lot of them were like, where are the normal Oreos?

And I was like, I did not buy normal Oreos because I found chock mint ones. So I got two sleeves of chock mint ones. Because obviously everyone's going to want them. Obviously. No, I got cancelled. I nearly got kicked out of my own office. People were refusing to try them. The people that did try them spat them out.

Dramatic. They were so dramatic. I got to get the originals if you're getting all of them. Sorry. I feel like if you've got 10 fun flavors, do you need the plane ones? Yeah, you need the plane ones. Color cleanser. Controversial. And there's a caramel milk flavor. Ooh.

Anyway. So just to be clear, you're also team pro mint ice cream. I'm pro mint ice cream. In fact, I love the cheaper the better. Like, I don't want fancy chalk mint ice cream. It has to be, is it like Buller or in the red tub? I don't know what one that is. I think that's the superior one for me. Yeah. So chalk mint ice cream with ice magic on top because I want that chalk top experience. Jessica. She's D-Iying at home. I do. Hard chocolate. I just don't like it with a... You got to have a fudge. You got to have a fudge. A chocolate.

No. Mim Freddo? Delicious. I got to say. Do you know what? I just... I don't know why we're so different. Like, I don't know if I can see past these differences. It's wild. Well, you know what? All unique perspectives are beautiful. That's beautiful, Jess. I believe the community has their answer on what our views on Chokmin ice cream are. And if there is a question that you are dying for us to answer on the pod, please send us a DM because we cannot wait to hear it. Now, Ms. Jessica Grichie, I'm curious. Does our community have anything to celebrate with us this week?

Perhaps some money wins. You know that they do. There were so many good ones in the thread this week. Firstly, Natasha said, I put an offer for an apartment $15,000 under the starting price, and it was accepted. Hopefully this is the start of more price drops for people looking to get into their first homes. A door. Really, really exciting.

If you don't ask, you don't get. Literally. Then I've got a moneyman from Estelle who said I deleted Uber Eats a couple of months ago. Cut to last weekend, I was sick on the couch with a cold and I needed a delivery. Upon reinstalling the app, I got an offer for $20 off of my first order over 25. Stop. Cheap dinner coming for it for me. Amazing.

Love that. Maybe just try deleting it. See, I told you guys, you need to threaten your apps. You need to threaten your subscriptions. Yeah. And then they'll come through the goods. Then I've got a moneyman from from Angela who said she got. $100 back from ING Bank. They do cash back on eligible utility bills.

Money or she had no idea. So if anyone's with ING Bank, I would be looking into that. Kate said she's been stacking the end of financial year sales with redeeming points vouchers and using shopback and getting just huge money wins all round. Then I've got a money win from Ariel who said Lecrucet was 30% off on Maya. Shop back had 9%. Westpac had additional bonuses and she had an extra $70 cash back. Stop it. That's stacking. I have stacking, stacking.

Stackish said it pays to keep things on your wish list, monitor the sales and wait to stack things up. Hell yeah. That's a very, very impressive, well done. Ariel. And then lastly this week, I've got a money win from Belinda, who said, I listened to the end of financial year episode where you mentioned you can claim your ongoing financial advisor cost. You can. Yes.

She didn't know that. So she made an amendment to the last two years worth of tax returns and got a refund from the ATO of $705. Stop. How good is that? And then Belinda, shout out queen. She's always in the Facebook group. I see her commenting all the time.

Someone said, oh, can you tell me more? And she goes, listen to the end of financial year tax haps episode, 27 minutes in. Oh, my God. Stop. And I just like snaps for Belinda. She's out here doing the good work. I love a time, Steph. Thank you, Belinda.

Thank you, Belinda. I'm going to need that too. All right. I feel like that is a really good wrap of the community this week. Beck, every time I think, damn, things are hard out there. Our community comes through with a broke tip that just brings me a little bit of hope. What tips can you share with us this week? Okay, so I'm so sorry, Jess.

My broke tip is going to sound very similar. This one's from Yasmin, though. So Yasmin said, and it is crazy. I didn't know you could do this. Yasm said, I edited my tax return from 2023 to 2024, as I realized it were things I could have claimed but didn't. On Wednesday, I received over $500 in my bank account. And so this is a really good reminder that because I didn't know you could do this.

So if there's anyone out there who's like, oh, I didn't know I could claim that, you can go back and amend it. Yeah, I don't. Hell? That's incredible. This next one comes from Kirsten, who says, I was spending way too much money on my ice long blacks. After many US trips and seeing their big bottles of cold brew, I'd been waiting for something similar over here. Oh, is it here? Now it's here. We're always now selling coffee shots by the goon bag. That's 1.5 dead ass. 1.5 liters for $18. Seconds to make before work, just adding ice and cold water to the coffee, massive money win for me. Stopping.

Yeah. You loved a little mixing. Yeah, like every time we've been to America, which is kind of crazy that we say, every time we've been to America, Jess, I go to the supermarket and we get like breakfast items so that we can have breakfast in our hotel room or at our apartment or whatever. And I'm always buying the like pre-done like Starbucks coffees to mix with milk in the room because they're good. Yeah, yeah, yeah. Well, now they have it here in a goon bag form. I don't know if I can get around the goon bag. That's very Australian. He feels very Australian.

It's a beautiful box and you won't even see it. You know, when you pop the tip out and you... Yeah, I do because Freedy Alexia makes you sexy. Do you really think that I have come from like classy upbringing? No. Goombag is also gorgeous colour. Yeah, and you can blow them up as decoration when you're done. Yes, exactly.

You make a little cushion. Exactly. And then my one, have you guys heard of the coin collector? Well, I'll tell you that. I have. Yes, I know that you have. I am on that. You and I are on the same.

like wavelength this week on basically everything. Yeah, it's so weird. Tell me more. I don't know what you're talking about. So on Instagram, his handle is coin collecting underscore detecting. So this guy searches for coins that are worth more than their original value. Some coins are only worth a few dollars more, but it's still more than you initially had. So he will kind of like go to the bank and exchange $10 note for $10, $1 coins and the little

rolly thing. And he makes his videos of him flipping through the coins. And his knowledge is insane, Jess. Yeah, and like every coin too, like $1, $2.50, etc. And then he will kind of like, be like, oh, see, so what you're looking for here. And he'll go to check his little list and be like, this coin is worth $2.84. And it's like $1.84 more. But it's like that was once $1.

Now it's worth $2. You know what I mean? That's quite cool. Like you've doubled your money. You've doubled your money. And then how do you, like where do you sell them? Well, the coin selling websites. Yes.

Oh. Yeah. Yeah. That's a great because I'm trying to figure that out too. Yeah. You can sell them on eBay. Is there a market to buy the $2 coin that's $3? There is.

And it's kind of crazy because there's this niche community of coin collectors who want the $1 coin with the slight defect. And like, really? Yes. And like it's so funny because I watch these videos at 3 a.m. when I'm breastfeeding. And he flipped through the coins. He goes, yep, that one's from 1974.

That won't be worth anything. This one. This one. Wow. Look, that's a 1963. And like, it's crazy. And by the way, 1960. We didn't even have that coin, so I'm making that up.

But you know what I mean? He's both through the coins. And then he's like, oh, this was a centennial coin. And I'm like, a what? Like, it's just really interesting. It's so interesting. You know, the little cigarette holder in your car? I have coins in there.

And I found one the other day. There was like, apparently $1 something. But then who cares? It was more than you had. It's someone selling it on eBay for like $2,000. So I'm like, what? But I don't think it is worth. No one's bought it yet.

But I'm like, I could put it up there for $2,000. Just see how we go. Undercut them listed for 1,500. See what happens. Well, that's exactly right. Oh, my God, so good. So I'd say check it out. And if you have some coins laying around, you might be sitting on a gold mine.

Oh, very good from you. That's a good one from you. I think that is fantastic. All right, guys, let's go to a really quick break because there's obviously so much gold in the She's on the Money community and I love it. That's good, but I appreciate. Welcome. Thank you.

Please look us up on Facebook and join our group. where you can share your own coin collection or simply have a purve at the money wins that Beck and Jess share with us every single week. After the break, we're going to dive into this week's money dilemma. Please stay tuned. Welcome back, everybody. Let's take a listen to this week's money dilemma. Hi there. Have you got a money dilemma you just can't solve? The She's on the Money team is here to help.

Every week we tackle your dilemmas, both big and small, to answer your most burning money, career and life questions. To get involved, simply head to our website and leave us a short voice recording and you might just find yourself on the show. Now let's take a listen to this week's money dilemma. Hi, she's on the money. I love the podcast. I've been listening for almost a year now. My money dilemma is I've just checked my bank account and I've been sent $10,000 from a family friend. there was no description or anything like that. And I haven't seen this family friend in maybe a year. A couple months ago, I sent them a message saying I didn't want to be in their life anymore, but I'm grateful for everything they've done for me because the family friend did live with me

and my family for quite a while. And then they left quite abruptly a couple years ago. I had quite a difficult relationship with them. And they also had quite a turbulent relationship with my mom and my sister. And I'm not too sure what to do about the money because I feel bad keeping it because I'm obviously not in contact with her and I'm not sure if maybe something's going on in her life if she's sick or unwell because I've also heard that I'm in her will. But then also I'm a full-time student. I'm also working full-time and that money would really help me and my sister and my mum, and I'm trying really, really hard to save, and it's very difficult. So please let me know any thoughts or advice you have.

I really appreciate it. This is diabolical. God, but like, isn't it the dream to just wake up and be like, wow, someone gifted me $10,000? I know. If someone happens in reality, you're like, what the hell? What do we do? Yeah, stressful.

I really want to know if it's... I need so much more tea. Yeah. First of all, I'm really sorry to hear, and it's really good that you could recognize, even though it might have been really hard to be like, like, oh, this person isn't good for me and good for my life. And that's a very hard decision to make, but really proud of you. First of all, I'm just going to assume it wasn't an accident because that would be, like if you haven't spoke to them, then maybe, but it's not. And so for that,

I would just say, if I imagine winning the lotto, I really just want to give everyone, like, a bunch of money. And I know that, like, it's obviously a very different scenario, but in these situations where you maybe have the means to do that, you really want to. And I know that being on the receiving end is like crazy. It just that you don't feel worthy, you don't feel like you want to make sure that you're doing good with this money. But I think take the pressure off, assuming it wasn't an accident, this person wanted to give this money to you and they wanted to probably help. And so it seems like in your situation, you're struggling to save. Like it seemed like it came at the perfect time. And I'm sure that they would really want to know that it is helping you in some way. So I think

do with it whatever you feel like you want to. And Victoria made a beautiful Freudian slip. earlier and said how you would spend, I mean invest it. So I'm thinking, I'm thinking Victoria wants you to spend that money. Was not permission. So definitely use it to better your life, better your circumstance, and just treat it as a gift to you and your family. I agree. I think you need to check that it was at an accident.

I just know that this would eat me up. And I think that like with modern day banking, we've all done it. We've all sent it to like the wrong Jessica or the wrong person. And I think like especially because there's no informational context, I just think morally the right thing to do would just be like to send an email or a text web, be like, hey, this popped up in my account. I just wanted to check was it intended to come to me? And then if they say yes, then you have that knowledge and you can kind of proceed from there.

But otherwise you're going, well, why do I have it? Why is it here? With that being said, it would be naive not to acknowledge that there's a very good chance that this is a little bit of manipulation, really. You're literally where I was going to go with it. I was like, yes, this is coercive control. Yeah, and they've sent you the money to force you to talk to them. I mean, it's really up to you. I'll talk to you for 10 grand.

Yeah. This is the thing right is I think that even if you wouldn't message them and say, hey, like, this 10 grand's popped up, like, just want to check it was intended for me. And if they then try to guilt trip you or say something to say, yes, I'm. experiencing a tough time or I've won the lotto or whatever I miss you and I just wanted to da da da da da da da da you. You are then well within your rights to set the boundary. Once you know that that was the intention, like it was intended to come to you. Like if you don't want to reply after that if you, that's totally fine. I think whatever boundaries you've set, you are well within your rights to enforce those and this money should not change that. With that being said, the goal may have

been, or the hope may have been from the person sending it to you, that the money would change that and that you would feel guilty and it would reopen the relationship or open a conversation or whatever that looks like, you're allowed to set and hold those boundaries irrespective of whether or not, you know, they give you money. But if they did give it to you and it was a gift, then, you know, that theoretically should come with no strings. That's what we always say. A gift comes with no expectations attached. Exactly. What do you think, Vee? I think it's crazy. Who does that? like doesn't talk to someone and then gives them 10 grand. Like that's not like, oh, I transferred you $100 because like years ago I owed you $100 and I'm finally paying it back. Like this is a different

story. Anyway, I just, yeah, I would want to check that it wasn't a mistake and I would want to make sure that I understood the intention behind it. Is it bad that my brain went immediately to its manipulative, its control? Like that's not cool from my brain. But I think it's important to check that it's not those things. 100%. And then if it is, it is. If it isn't, it isn't. But I would, I guess, proceed with caution.

And to be honest, I wouldn't be spending a dollar of it until you understand that it wasn't a mistake because it would be very awkward if they go, hey, I'm so sorry, Jess. I know you drew this boundary with me. But now I have to reach out to you because accidentally I transferred to you, you know? 10 grand. 10 grand. And it was actually meant to go to my other friend, Jess, or it was meant to. to be my rent or it was meant to be something else. And you go, sorry, I already spent it.

Yeah. Like, that would be awkward. So that's where I would go. Yeah, I totally agree. Good call. Should we move into this week's dilemma? We absolutely should. This one is actually something we hear about all too often. So I hope we can share some, I guess, helpful opinions, thoughts and feelings with you. So they wrote, Hi, Victoria. I'm 29 and I earn around $105 a year. I've worked really hard to get myself into a good financial position and have managed to save about $35,000, but I also have an $18,000 hex debt and a $12,000 car loan. My goal is to buy my first home in the next couple of years, so I know that having cash behind me is really important. But every time I see my car loan and my hext balance, I just want to pay it off and be absolutely done

with it. I keep hearing people say, not all debt is bad debt, but honestly, I just hate owing money. I'm so torn between using my savings to clear these up and enjoying the peace of mind or leaving my savings alone because I know I'll probably need them for house deposit and emergencies. How do you know when it's worth paying off a debt early and when you're actually better off keeping the cash? Thoughts? You know, the hex element we've said many, many, many times. Hex is, you know, not the worst debt to have.

It's indexed. You're not paying hectic interest on it. It dies when you die more than the true. I would not be too concerned about the hex if I was you. The car loan I would be more concerned about. I think though when you say you might need the money for emergencies, I would like to understand, do you have an emergency fund? Because I think before you go spending all the money you have,

or like a good chunk of the money that you have, it wouldn't be all of it, paying off that debt, do you have enough to cover yourself for however many months? So like, have you got an emergency fund or is that pool of 35,000, every cent that you have to your name. If so, potentially you might not need a $35,000 emergency fund. Can you split some of that off? Depending on your interest rate on the car loan,

that's when I would be assessing as to whether or not it's worth paying it off early. I just know that over the term of a car loan, you end up paying sometimes almost double the cost of your car. And so I do feel like, I mean, I personally just don't love the idea of paying interest on things if I don't have to. keep in mind when you have a mortgage as well, your mortgage is subject to change. Like look at how many times the rates have gone up in the past few years. So while you might say, well, $35,000 is enough for my deposit, congratulations, by the way,

on saving such a huge sum of money, and that's a really exciting time. I think that not having that additional debt would probably free up your cash flow, so that if there were changes with your mortgage, you know, that would be a little easier on you. But all of this will be taken into account if you speak to a mortgage broker. who will look at your assets, your liabilities and kind of give you the breakdown. Exactly, as Jess said, congratulations. That's huge, quite a feat. I know this isn't very helpful, but I'm always confused by car loans because I'm like,

I guess I would need one too. I don't really have savings with my car broke. I would, you know, touch wood, I would need to take out a loan to get a new one. But that isn't to say that I would get like a big car. I know that people have families and need big cars. But I'm like, that's one thing that I've never understood why people need a spend. so much on it. Like it's not... The amount that people spend on cars, just as a side note, like people are getting loans for, you know, 30 to 50,000 dollars. And I understand cars are

expensive and safety and da-da-da-da, all of those things. Like, I'm not having a go in anyone who's bought a new car. But you can just buy a car for sub-10,000 dollars that'll do the job. Again, lots of factors to consider. Exactly. I'm on your team, Jess. Like, yeah. Obviously, it is an absolute privilege to say this, but if you can't buy it outright, you need to be having a really good thing about. why you want that particular model and that particular car. Yeah, exactly. And I think, you know, the safety standards and the safety features have, they kind of

started coming around like 2010. At that point, they're like super safe. So anything in the last like 15 years, you're guaranteed to get like a pretty safe car. So you could definitely go cheaper. But anyway, not to say that, you know, it's done now and you have a beautiful car, hopefully. But yeah, I would say, yes, don't worry about hex at all. It sounds very similar to Jess.

Don't worry about X. You try and pay that debt. Yeah, I guess like it depends on the interest rate. But I know that historically, and maybe like famously they're not known for having very fair interest rates and you kind of pay a heaps of money. So even like, and I don't know if this is the best thing to do, but I would even look at maybe a loan that has a better interest rate that's not necessarily a car loan. That is just, I feel like adding cards, like adding the word wedding to an event and everything goes up a million dollars. And so having a regular loan that is just like wayless interest and you know you've done your research on there. Maybe you've got some benefits of frequent flypoints or something, some random things like that.

Like have a shop around for a cheaper thing or something that will cost you less in the long run. And see if you can pay off with that, and I know Victoria's probably angry that I'm suggesting getting to more dance. But that is maybe what I would do while trying to pay off quickly, but don't maybe touch too much of your savings. Yeah, I think. I'm just going to lean into what Jess said. Go talk to a mortgage broker. Because we have seen people in our business before who have paid off their hex debt and gone, oh, I paid off my hex.

And, you know, it meant that I had to save for another year and a half. And we go, oh, cool. You didn't have to pay off your debt. You could have afforded a house a year and a half ago. And the hex debt wouldn't have impacted your service ability enough to be a worry. And again, the debt doesn't feel good and you want to get rid of it, but talk to a broker because they'll be able to give you a strategy of getting into your first home and what that will look like. We deal with people who have debt all the time.

But the important thing is having a conversation because your broker might go, yep, if you can, get rid of that car loan, don't worry about the hex. This is the strategy. Or they might go, okay, well, your serviceability with the car loan and with the hex looks like X, but if you did this, it would look like why. Go and get some advice from someone who can actually. look at your numbers, don't, you know, put your hand up and be like, oh, I'm just going to make a decision that I think makes sense. Seeing a mortgage broker is free. Like, go and get the free

advice and put yourself in the best possible financial position, but also leaning into what just said, it sounds like you've just got $35,000 in savings and that's cool. But I need you to carve some of that off for your emergency fund and putting that to the side to never touch. Especially if you're going to build a house or buy a house. So there are so many things that just pop up. They're like, oh, see you later, money. Yeah, like, it costs so much money to have keys cut. Like, that's crazy.

That's a niche personal reference. Please disregard. So we also asked. Three months. Yeah, we'll talk to you about that reference. You pin that and cut back and ask a Jess, but not right now. We asked the community, obviously, what debt would you tackle first? 85% of you said the car loan, 3% said hex,

and 11% of you said neither I would keep saving. Okay. Okay. Important to take into consideration that you would probably have a relatively high interest rate on a car loan and we don't want to pay that. If we don't have to. Yes. Oh, sorry, I just remember that they're a car loan brokers as well. There's one in no one in like no-mar. You guys can break.

Yeah, or you can just ask me. Oh, yeah. Yeah. Are they different? Anyway, you could like refinance a car loan specifically. Yeah. But they're all the same. Yeah, you can.

No, they're not all the same. Zeller is better. Sorry, Zeller is better. Exactly. Exactly. And she's always said that. But I've always said. I've never seen anybody else in the entire market.

That's a really good point. You can talk to someone about that. But it's also, I guess, important if you did come to us for a car loan. We do ask you a few questions that someone who just buys themselves cars every day, they go, oh, Jess, yeah, no worries. I can get you a car loan full stop. My team are a little bit more likely to go, oh, Jess. Like, I'm really glad that you are buying a new car.

Like, what's your financial situation? Like, is that the right loan for you? Do you think that, like, yeah, sure for sure. My team might ask you a few more questions because, yes, we do it. Yeah. But we also want to make sure that we're not writing loans that put you in a worse off position. So maybe if you want to be in a worse off position, go see a different broker. But like, yes, true.

It's so annoying. We could make so much more money if we had less morals. I know. I'm so sorry. I thought they were, because car loan broker, mortgage broker. I think they probably are. No, there are people that only do how. There are people who only do assets.

Della does all. Yeah, we do everything. We do residential. We do commercial. We do business loans. We do asset finance. Like we've financed lasers for people's beauty therapy clinics. We've financed trucks and tractors for farming.

Like we do everything. Oh, amazing. It's crazy. And it's really fun. Hell yeah. Like someone comes to us and they're like, I need to buy a tractor. And I'm like, well, let me work out exactly how I do that. But I've got your back.

Anyway, I've done that one before, so you need a new trucker. You come to me. Anyway, far a lot of way. We also asked the community, if you suddenly had enough money to clear all of your debt, would you? What do you reckon that sits at? In my head, I'm imagining like our last question. Lotto. The money has just popped up in my account.

It's like if it did, absolutely, I'm clearing the debt. Who would? Yeah. Well, only 39% of you said immediately yes. Really? Yeah, 43% said it would actually depend on the debt. 17% said only some of it and 2% said no, I'd continue saving. Interesting.

I know. Maybe some people are going to go get some financial advice because I'm just coming to a sum of money. Yeah. Next question we asked was, which would genuinely make you feel more financially secure? We asked would it be being completely debt-free or having a healthy savings account? That's a tough one. What do you reckon the split was? I reckon it's like 50-50.

I think... 39-51. No, 49.51. Quick pass. I reckon mostly having healthy savings. Jess was right until she questioned her. Damn it. It was 50-50.

Exactly on the dots. Oh, my God. That's crazy. We then asked what's your two cents. And you had a lot to say, mostly, get rid of the car loan, but leave the hex debt. It will sit and pay itself down over time, girly. Someone else said, pay the car loan post and then speak to a broker. about paying off a hex debt and whether it's a good strategy.

Someone said, define your debts. So it will make more sense. They said if you understand what is consumer debt and what is hex and helpful debt, that might be helpful for you. Another person said, if you have a healthy savings account, pause that for a bit and then focus on the car loan until it's paid off. Another person said, good debt and bad debt are different. Good debt is your home loan that you'll get in the future and a bad debt is a car loan.

Another person said, well, what's better for you? having extra money in shares or for a home loan or extra money to pay off a car loan, which I thought was really important. Another person said, we refinanced our home recently and we were advised to clear our car loan debt first. So that's a good, like, I've done this before you. Another person said, if one might help you sleep better at night, that's probably the one you should prioritize. Good call. Which I often say. another person said, if the loan term ends by the time you're planning to buy anyway, maybe I wouldn't bother.

So there's a lot of like different things on the table, I suppose, about advice. But I think my number one thing would be talk to a broker. Yeah. And just say, hey, I'm in a position where I want to buy a house in the next three to five years. I've got $35,000 in savings. I've got a car loan. Got a Hextet. Here's my salary.

And a broker will be able to give you a number of different scenarios. or this is what it would look like if you paid off your car loan. This is what it would look like if you had no hex debt. And then you can make the decision that makes sense for you. Yeah. And if you want to know more about the different kinds of debt, we ran an episode in our summer series earlier in the year about managing debt. We'll link it in the show notes.

And that kind of goes over, you know, what is good debt, what is bad debt, the things you might want to consider in a bit more depth if you do want to go over that and have a bit more understanding. We've got our fingers on the pulse. We know what questions you guys have. Before we even have them. Exactly. And we already made that episode.

All right, I think that this is unfortunately all we have time for today. And at the end of the day, whatever you decide should support your financial goals and your personal money story and it's your decision to make. We're just here to weigh in with some helpful opinions. But opinions are like, we'll just move on from that. Anyway, my friends, that concludes our Friday drinks episode. I hope that you've left feeling refreshed and invigorated for the weekend that will be. Thank you so much for joining us for a little fizzy edition of She's on the Money. for being a part of our community.

Please make sure that you are subscribed so that you never miss an episode and we'll chat to you next week. Money Diary, Deep Dive and all. 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 Sherper P-T-Y-L-T-D-A-BN 321649-27708, AFSL-FSI-151-289.