She's On The Money - She's On The Money Radio Recap - 20 August

Episode Date: August 20, 2022

Catch up with today's episode of She's On the Money radio Show with Victoria Devine and Mitch Churi! As ever we dive into Super Saver Saturday, and our Money Dilemma today is from Simone who is looking for advice about paying for IVF using Superannuation. Plus we get the scoop on Victoria's Hen's Party...and of course who paid for what.All this and so much more on She's On the Money Radio!You can catch us live on the KIIS network, or listen to your heart's content via the iHeartRadio app every Saturday from 9am - 10am.See omnystudio.com/listener for privacy information.

On air and iHeartRadio, Money, Money, Money, She's on the Money Radio Show, Money, Money, Money, with Victoria Devine, starts now. Hello and welcome to the She's on the Money Radio Show podcast, the podcast for millennials who want financial freedom. I love that for us. You did that perfectly this week. Well done, my friend. Remember, Trav, we said if you screwed it up, it was my job, but I guess you keep it. That's how I roll. Pew, pew, pew. Hey, guess what this week, guys? This is what we're talking about. What are we talking about? Victoria's hen's night.

Oh, we are indeed. Do you know the best thing about this, right? I love the podcast intro because in the radio show, we've got to be all nice and fancy and above board, but we actually didn't get into any details, Victoria. Yeah, tell us the dirty stuff. What happened, mate? Just for our podcast community.

Look, it wasn't as spicy as you guys think it was. Sure, mate. No, no, no, really, because I said to my girlfriends, like, if you get a stripper, I will literally go and sit in my car and cry. Absolutely not happening. I would be so uncomfortable with that. Can I just say, though, and this isn't me trying to win any brownie points,

whatever, but the older I get, like, strippers, no. I just think to myself... Yeah, I've been to lots of hen's parties with them. I've got no problem with them. But the idea of me being the centre of attention in that situation is just not me. Yeah, I just don't know. Like, this is going to sound like it's going down, like,

a serious path here, but if I'm getting married, my wife is the most beautiful woman in the world. Like, why would I want to look at somebody else? You know what I mean? Oh, that's really cute. That's how I feel. You go talk to Steve and let him know. All right, Steve-o, let's go have a cheeky whiskey and a chat

and we'll go to some strippers just to show you why they're bad. No, I'm joking. No, tell us some of your details. So we went down the Mornington Peninsula. We had the Hen's Party in Ports here, which is really fancy. We didn't own the property. I just air-beam beat it. Really nice venue.

It was tennis-themed, so it was Wimbledon-themed, so everyone wore their tennis whites. Can I just stop you right there? Yes. Because I love you so much, Victoria Devine. You're one of my favourite people in this world. But then you broke my heart. How?

Because you're wearing white Crocs, mate. Oh, my gosh. They are the best things that's ever happened to me. Crocs are elite. I will not be cancelled. Crocs are, look, tell me they're not the most practical shoe in the world. You can slip them on. You can go to the cafe.

Sports mode activated. You flip a thing back, pop your shoe in. You could run a marathon in a pair of Crocs. I will not hear you trying to cancel them again. You can do all of those amazing things, but then you turn into an old person that nobody likes. Okay, well, I don't particularly care because I'm not here to people, please.

I'm here for comfort. And do you know those giblet things? I've got some gibbets. What's a gibbet? What is a gibbet? So they're like the decorations for your Crocs. And I've got a little tennis ball to put on it. No, don't call them gibbets.

That's embarrassing. I'm sorry. What's a gibbet? Isn't that like a chicken thing? A giblet. It's called a giblet. A giblet's what my auntie Norma has on her underneath her chin. Oh, yeah.

Let's move on. Let's move on. I know you're getting married, but don't let go just yet, Victoria Devine. You've got book covers to be on. Giblets. No, I never want to be on my book cover. I was really specific about that when we were doing the design. I was like, do not put me on the cover of my book.

That is not me at all, which is why our book is peachy, and our new one is the very beautiful pistachio green. Oh, fantastic. Speaking of the book, though, before I let you guys get into the actual radio show, we've got a book event coming up. We have an entire book tour coming up. Has this been announced? Yeah, it's being announced now, guys.

I haven't told anybody. We need some music. Come September, I am touring Melbourne, Sydney and Brisbane. We have epic events coming, epic goodie bags, epic people. Koff, you guys are going to be there. I'll be there, yeah. We're going to do some live pod recordings. Our live podcast recording went so well, but we're touring with Fane.

Guys, I'm so excited. Same people who Brit and Laura from Life Uncut are touring with. Have I made it or what? I thought you said with Fane? Fane, F-A-N-E. They're the guys that throw good events. And when they said, we'll help you do it. Yeah, Life Uncut girls are doing the same thing with the same group.

They're great. Yeah, they're epic. So now I'm as cool as Brit and Laura? Maybe, maybe. Maybe not. Brit and Laura are a spell. I've been in Bali with those girls. They drink a margarita like no one else.

And they don't wear. They're elite. I can't compare. Well, Brittany, actually. Actually, it was just dry July, actually. So all was like on the waters. I'm like, what about the Bali ice? It was an old thing.

Absolutely not. Yeah, they're much cooler than me. They don't wear Crocs. That's why. I was about to say, I wear Crocs. No, they don't wear Crocs. I'm not going to fit in. It's your one down.

I don't even want to fit in. But check out the She's On The Money website if you want more information on that. There is now an entire page dedicated to it. So if you want to come hang out with us in September, we'll be there with bells on. But if you want to check out some amazing money tips, not only how you can distribute and save from your hens or bucks if you're about to plan one, if you are also looking at IVF, a little cheeky tip

you might not know about that you can pay it with, and we threw it out there to our She's On The Money radio community for the show to give us some super saver Saturday sneaky tips and they bloody delivered. Mitch, you did not. Yeah, yours was a terrible tip. Don't shame me on my show. thank you very much. Look, we listened to it because we

wanted to be kind. We wanted to include you, but I mean, it was kind of trash. Group decision. Never let Mitch do that again. I'm going, everyone. I'm going to get a coffee. I love you. She's on the Money Radio show starts right now. Guess what? Cyndi Lauper was right when she said,

Oh, girls just want to have fun. Girls just want to have fun. Girls just want to have fun. Don't they? It's all they want, really. It's all I want as well. Cindy Orpah just should have added Mitch as well. She got it wrong.

No one wants fun. They all want funds. Oh, my God. Hold on. Sorry. I know we're going to talk about your hen's party, Victoria. There's a song parody in that for you. Girls just want to have funds.

Make that now. Girls just want to have funds. Want to have funds. Just want to. All right. Your hen's weekend last week, Victoria. We know all the juicy gossip in here. You told us off air before.

But for everyone listening, what happened? Look, we had a pretty good weekend. Went down the coast with a bunch of my closest girlfriends. friends, we actually hired a house. So I ended up paying for that one. Not a bad thing. I just really wanted to contribute to my own hens because I knew that these things can blow out of proportion pretty quickly. So I had a chat with my bridesmaids and said, this is what I want to do. This is how it's going to work. They weren't that happy with it to begin with. Because traditionally bridesmaids organize the hens for the bride, yeah? Yeah. So bridesmaids like organize it all and it's meant

to be 100% a surprise, but I was very aware that these things add up very quickly because I've been to a few hens in my day. I'm at that age where every man and his dog is getting married. Lucy? Yeah, look, Lucy's an ex. She's currently single for any puppies at the dog park who want to introduce themselves. Oh, okay, good, yeah.

Yeah, she's into Groodles, so just hit me up. Some of you, Trav, so that actually checks out. Yeah, nice. Two on the team. Hang on, you didn't say... No, I said Groodles. Okay, thank God. Yeah, but I paid for the house purely because I said,

look, this is what I want to contribute to it because I just don't want the cost getting out of control for everybody else coming. I'm very aware that everybody that was coming to my hands was in a very different financial circumstance. Like, some of my friends are single. Some of them are married with kids. Some of them have just bought houses.

Some are saving home deposits. Like, I just hate the idea that it would be astronomical to celebrate me. It's also awkward, too, to ask. Like, do you ask your friends? Do you say you have to? Is it that awkward thing where you just send a Facebook message you with your BSB and account number like it's a very awkward thing to do yeah so the girls did

still contribute and that wasn't organized by me so my girlfriends organized the party and the alcohol and the food and the artopolis waiter all without me which I'm very grateful for but I think this opens up a bigger conversation around who is meant to carry that burden because you guys would know parties get out of control pretty quickly hiring someone to come as entertainment then food then alcohol you're looking at like at least a couple of hundred dollars ahead let alone if you wanted to go away for the weekend then there's accommodation and everything on top of that and i just think it's really unrealistic to expect your wedding guests to pay for that because here's the thing according to retail me not right which is a website in the u.s

apparently 180 australian dollars is what a guest can expect to pay at a bachelorette party 180 see I feel like that is so so so much money and then on top of that if we go with what tradition says according to Vogue each guest obviously pays for themselves but they're meant to cover the cost of the bride so like that would be I think that's fair though I mean it's your celebration if one of my best friends is getting married I'd chuck in 100 bucks or 50 bucks I get it I totally get it and I'm on exactly the same page but we are both in a very privileged position where we can afford that it's within our budgets like what if your best friend's getting married and you're up to your eyeballs in credit card debt like that could actually give you mad anxiety to have to

pay for something that maybe you hadn't anticipated have you ever been like a maid of honor i have i have and it's a lot of pressure responsibility see i've been a best man three times low-key flex there from me oh you have so many friends i've only done it once but you must be popular no Always the bridesmaid, never the bride. Oh, right. Well, that's on you, Beb. That's on you. The worst thing.

That's a you thing. It is a me thing. I'll cop that. But the best man always cops the hit as well because you sit there and you organise the bachelor party and there might be, say, 50 people on the list that go and they're all like, yep, I'm in, I'm in. So you go and you book the accommodation, you book everything, the entertainment. Then one by one, people start dropping off, dropping off, dropping off. and I've actually paid $3,000 to $4,000 out of my own pocket because I've had to pay for everything and people just haven't come.

That is ridiculous. And see, that's a burden that I don't think anyone should have to carry, but it's a part of the process and then, I don't know, it just makes me feel uncomfortable because I just hate other people being financially compromised because of me. Right now, Victoria Devine, your hen's weekend last weekend. Girls just want to do what?

have funds they want to have fun you gotta sing it victoria i'm not gonna sing it you guys do not pay me enough absolutely not so with your hands weekend you hide yourself an airbnb down the coast you had a lot of entertainment a lot of activities now that can cost a lot of money so we're wondering on 131065 what have you had to do either for your hands or your bucks and how much did it end up costing you emily you wanted some advice yeah if that's all right guys it's not what we anticipated but like we're here what do you want to know emily i'm a little bit of in a sort of a sticky situation because i am the chosen bridesmaid the maid of honor and my beautiful beautiful best mate she's getting married but i've been asked to organize the hen's party and the bridal shower

and things like that but I'm really awkward with asking about money because part of me just wants to lay it on thick but I also like I can't afford it and so I want to make sure that this day is perfect for her especially the hen's party but I kind of need some help with the muller so and it's awkward asking people for cash before you've organized it because you're like all right like I've done the budget I need you know maybe a hundred bucks from each of you so I can go and organize this like there's a lot of organizing but I would honestly start with a spreadsheet break down what you want to do as many of the things DIY as possible obviously that's time consuming though so I can understand if you want to outsource some of it but from my perspective

I'd go all right what can we do and where can we do it I think venue needs to come first because that's arguably going to be one of your biggest costs because either you're going to have to pay for food and beverage or you might have an Airbnb or you might get away with having it at someone's house which could be a bit of a money win because then there's maybe no cost but I would actually sit down with the bride and say well actually I want this to be amazing I want you to have a really good time what are your expectations so that you can manage that along the way because there would be nothing worse than her expecting you to basically create a circus for her and then she gets there and she's like oh this is not what I thought it would be so the money part

hate for that to happen exactly but it's more around like well what do you want to do and how can we make that happen um and i think there's nothing more beautiful than the thought and genuinely it's the thought that counts and i was talking to my bridesmaids about this and you know what had happened at other hens parties honestly the most meaningful things that i think you could do and having had my hens literally last weekend it's all the small things it's the fact that my friends reached out to my fiance and got him to answer all these questions And then we had games based around what he had answered and whether I could answer the same question with the same response and just things that are quite meaningful don't need to cost a lot of money. So I think if you do a heap of Googling of like free hens activities and jam pack the day and then maybe pick one hero activity that you go, all right, well, this is where we're going to allocate the funds to.

Well, can I hate to kill the vibe? I've just searched on Amazon. You can get Pin the Penis on the Man for $4 on Amazon. It's a fun little game. Oh, money weird. And that is so affordable and such a fun game for families and children. I mean, $4, come on. Yeah, look, I feel like all of those things are really fun,

but for me it was really about feeling as though my friends had put the time, energy and effort into it and they absolutely had and it was more about me being surrounded by my favourite people and I think that that's where, for me, it meant the most. It wasn't actually about, oh, my gosh, we went to the most expensive hotel because we didn't. We actually ended up going out to the pub for dinner because that's what the budget allowed.

We ended up having some pizzas and some hot chips and a few drinks and I thought that was perfect. Do you know what? That's perfect. By the sounds of it, Pinterest is going to be my best mate. Oh, Pinterest, absolutely. There's so many good DIYs. Also, the other thing that I think can bring down the cost of a hen's

is not expecting everybody to do every activity. It might be a little bit more of a runaround. I know the organisation part sucks. We're going back to our spreadsheet here. for example my girlfriends took me to the spa in the morning but only a handful of them came and the rest of them turned up later in the day but i think it can be a really meaningful day without you having to throw thousands of dollars at it because i think that's ridiculous all right if you've got yourself a little bit of a money dilemma you're struggling with cash flow got

yourself into a little bit of a situation maybe you need some advice hit us up anytime on socials just search she's on the money just like simone has done she wants some advice on how to pay for IVF using super. Okay, we're going to go from hen's nights to IVF. I like what we're doing here. I feel like it's diverse, it's different, but you know what the common theme here is? All of it's really expensive.

Yep. This is She's on the Money Radio Show. If you want your money dilemma solved, well, then you've come to the right place. Money, money, money. Right, so every week we do a money dilemma. It's when we bring someone's financial story on air to get Victoria's advice on what they should do.

So, Simone sent us a DM about paying for IVF using superannuation. So, she says, Hi, V. My husband and I are looking at going down the path of IVF as we haven't been able to fall pregnant naturally. Obviously, it's an expensive process and I've heard you can pay for it out of your superannuation. Between us, we have a total combined income of $160,000 a year. She wants to know, is it a bad time because of the economy

and can you actually dip into your super and take money out? Yes, you absolutely can take money out of your superannuation to pay for IVF, which I actually don't think a lot of people know because it's not something, like I am, I would say young, I'm in my 30s, I'm a young female, and a lot of my friends are now, this is weird, guys, getting pregnant on purpose. And this is not something I've incurred before because historically when my friends got pregnant,

you'd kind of like side-eye them and be like, are we excited about this? How are we reacting about this? Yeah, how are we reacting about this? And that's actually my default still. I don't mean it, but Trav, if you were like, I'm expecting a baby, I'd be like, ooh, are we excited about this or no? Yes, I know what you mean though, yeah, yeah.

But nowadays, my friends are on purpose getting pregnant and if they can't get pregnant, they're looking at alternatives like IVF and IUI to actually facilitate that process, which is arguably incredibly expensive. But because all of us have been trying not to get pregnant for so long, none of us know how to actually get pregnant and what it might cost, right? Yeah, I think we know how to get pregnant, mate.

Okay, but I would have historically no idea when it came to IVF because it's not something that's ever been in my circle. And you only come into IVF when you find yourself in a little bit of a pickle where you can't get pregnant. True. There's not just one way to get pregnant. It's 2022, you know? Yeah, and the thing is, a good friend of mine, I was having a chat to him about this

because he's going through his third bout of IVF. Right. And we just sat there and thought, all those years where you're trying to be careful, And now it's costing him over $30,000 just to try to do it. He could have been gone wild. It is actually crazy. Like as women, and I talk to my girlfriends about this all the time,

we have spent our entire lives on birth control and talking about contraception and avoiding getting pregnant so much so that when the narrative flips and you want to get pregnant, you're like, hold on, what do I have to do to put my body in the best possible position? And to me it sounds wild, but let's get back to IVF. So, yes, IVF is a very significant financial burden and it's one that a lot of us don't plan for because, as I said, you don't really know that you're going to need it until you need it because we don't in Australia talk about fertility as early on as I believe we should. Each round of IVF in Australia costs about $10,000 depending on where you're going. Some of it is covered by Medicare but not all of it and it really depends on what institution or hospital you go through as to what it costs.

and I think my number one tip would be shop around and go to different places and ask them what their fees are because I have seen it as expensive as $17,000 a round and I've seen it as low as like maybe $6,000 a round depending on the support available. If you go to Taiwan. No, no, no, all in Australia, all in Australia. But it is really, you know, wild that it's so varied.

But if you're in a situation where you're like, you know what, I really want to get pregnant, we just don't have, you know, 10 grand per round sitting in our bank account to pay for this, you can actually apply for early access to your super for IVF treatments, which I think is really cool. So, what happens is you sort it, you go to your superannuation fund and you're actually looking for an early access to superannuation under what they call compassionate grounds. So, this would be for things according to the ATO that need to meet a certain criteria, right? So, So, it either needs to be a life-threatening illness or injury, an acute or chronic pain, or an acute or chronic mental illness.

So, thankfully, IVF is able to be claimed under the mental health provision because if you can show with the certification of a medical practitioner. So, basically, you go to your GP and get them to sign off on the letter saying, yep, we can do it. But you can access it by going to your GP and saying, hey, can you, you know, help me access this scheme? and your doctor will write a letter that says you are suffering mentally due to infertility and then you may be eligible for early release of super. Yeah, just remember, though, you are dipping into your super, which is actually robbing you later. Exactly.

So you've got to remember that. All right, if you've got a question, make sure you hit us up on socials. Just search She's On The Money. But coming up next, Victoria, you're going to give some people some advice how they can keep some money in their bank account. I am. I've had a bit of a cop-out this week, though, guys. I've taken it to my socials.

and my community is going to share their money tips and tricks with you guys, and we're going to read them out live on air. Right across the country for your Saturday morning, it's She's On The Money radio show with Australia's number one finance podcaster, Victoria Devine, Mitch Turi, in the seat as well. It is our favourite segment because it's time to do this.

Yeah, look, usually each week, Victoria, you give us some sneaky tips on how to keep more bucks in our bank account, but you've outsourced it this week. Work smarter, not harder, Trav. She's on the money radio show mantra. Yeah, earlier this week I jumped on my socials and said, hey, guys, what are your best money-saving hacks? Slide into my DMs and let me know and you might find yourself on the show.

And that's what a bunch of our She's on the money community are doing this week. This is so exciting. I love it because I actually learn here. This is where I get my education on this show, this segment. Oh, well, you're bringing a money-saving hack to the table this week too, aren't you? I am. I beat inflation. How'd you beat inflation?

Come on, start us off on a good foot. So, I thought, you know what? Happy Ephus, et cetera, et cetera. I'm going to treat myself to a new pair of R.M. Williams boots. Doesn't sound like you need to treat yourself, mate. That also sounds like a very expensive purchase. And when did you buy a farm? Yeah.

So, I went to R.M. Williams and I tried on the shoes. I did the whole experience. It's very luxe. Paid for them 500 bucks, right, for a pair of R.M. Williams boots. So expensive. Brand new. So expensive. And I go, God, that's a lot of money.

I was umming and ahhing. Should I do it? Should I buy it? Yeah, I'll do it. Anyway, I get home. But 10 days later, I get an email from R.M. Williams and I go, oh, maybe I left something in the store. No. An update on our pricing.

Due to inflation, we have upped our price by $100. Oh, my gosh, that's so much money. 10 days after I paid $500, they're now $600, baby. I just beat inflation. Ka-chow. Wait, hold on. So you're trying to claim that you had a money win because a company did something after you bought a pair of shoes. I beat inflation.

So, what are you trying to say? To be able to tell the future and buy just before they raise their prices? No, no, no. This is my money tip. Let's go to Chanel Trav. I'm on. All right, Mighty McFly, tell me. How about we move on from him?

No, I'm saying if there's something that you really want to buy, buy it now because inflation is coming. No, absolutely terrible, terrible money tips. Trav, let's turn his mic off and we're going to move to what the She's On The Money community had this week. Mitch, he's done. He's gone. He's cancelled.

All right, this one's from Peter M. Peter M says, a prepaid phone plan is much cheaper than- Yes, I do a prepaid phone plan. Yes. How much cheaper is it? Like how much money are we saving? It's 65 bucks. I get unlimited data and I buy my phone outright.

It saves me so much money. I feel like I need to do this. I used to do it, but you can get some really good ones. So he said he has a May Sim and he only pays $18 a month. Wow. What? Money weird. Why haven't we all thought of this?

I pay 60, but I do buy my phone outright. So if you go on a payment plan or you buy your phone outright, That's the big upfront cost, but then otherwise you are saving month to month. And this definitely isn't sponsored, but Boost, I think they do unlimited calls and texts and 280 gigs of data for 300 bucks per year. Crazy. For a year? For a year.

Oh my gosh, that is really cheap. All right, so we've got Patrice. Patrice says, rice cookers, you guys keep buying pre-packaged rice and it is adding up. Get a cheap rice cooker from Kmart for $14 and it'll pay itself off over the long term. Oh, that's a super saver tip. I'm not into that. I'm totally into that because rice is expensive. No, no, the rice cooker, it's foolproof.

No, it can't screw it up. Can't mess it up. $14 at Kmart. That is, from my perspective, a money win. We've got Emmy. Emmy says, buy a gift card on the ShopBack app and then use the gift card to pay for your groceries with the ShopBack extension on your browser

and you get double ShopBack. Oh, wow. What a wizard. Chloe has a funny one. She says, get a dirty clothes basket that has a lid. It'll save you money on the vet. when your dog wants to eat your socks. Can I just say, nothing beats my, I beat inflation.

Sorry, buy your gift now, buy what you want. I think that's good. We've also got one from Antara. She says, you'll resonate with this because we all love a little bit of cheeky Maccas. Download the Maccas app. We've talked about it before and she said- You have said this, yeah.

Yeah, she said, compare the costs this week. I got my coffee for $2. Wow. Money win. I feel like those are money wins all round. You know what? If you have a sneaky tip that you've got, hit us up on socials at She's On The Money

because I think we should do that more often. Just let our community tell us. Yeah, I've got another one if you want another one. Kalina, she says, I've got a few email addresses so I can keep utilising the new customer discounts if I haven't used them before. I'm a little wizard.

I think that's insider trading or something. Just remember to put a reminder to cancel that because I was paying for Audible for 18 months. Oh, whoops. All right, well, you've got to be smart, but I reckon at some point we'll go back to the community for some money tips because they're smarter than me. Well, I felt personally attacked until you said smarter than me.

Well done. All right. We've got to get out of here, guys. You can catch up with us anytime on socials. Just search She's On The Money. Mitch, you've got to stick around. Do the Life Uncut radio show next. But, Victoria.

I do. I do. It's going to be a big show. Let's go get us a $2 Macca's coffee. Took the words right out of my mouth, baby.