She's On The Money - What Would You Do With $60k?

Episode Date: September 5, 2024

What would you do if you suddenly had $60k in your hands? It’s fun to dream about, right? Well, for this week’s Money Dilemma, it’s not just a hypothetical—it’s real life! And things get spicy when the conversation turns to what truly counts as a favour in friendships. Plus, we’re bringing all the Friday Drinks goodness you love—celebrating your money wins, sharing your top broke tips, and of course, having a lot of laughs along the way. Pour yourself a cocktail and join us for the fun.  Acknowledgement of Country By Natarsha Bamblett aka Queen Acknowledgements. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances. She's On The Money exists purely for educational purposes and should not be relied upon to make an investment or financial decision. If you do choose to buy a financial product, read the PDS, TMD and obtain appropriate financial advice tailored towards your needs.  Victoria Devine and She's On The Money are authorised representatives of Money Sherpa PTY LTD ABN - 321649 27708,  AFSL - 451289.See omnystudio.com/listener for privacy information.

Hello, my name is Natasha Nabanunga-Bamblett. I'm a proud Yorta Yorta, Kernai, Wolperi and Awadjeri woman. And before we get started on She's on the Money podcast, I would like to acknowledge the traditional custodians of the land of which this podcast is recorded on Awadjeri country, acknowledging the elders, the ancestors and the next generation coming through. As this podcast is about connecting, empowering, knowledge sharing and the storytelling of you to make a difference for today and lasting impact for tomorrow. Let's get into it. She's on the money. She's on the money.

hello and welcome to she's on the money the podcast that makes personal finance feel a little less daunting and a lot more doable. Today, my friends, it is Friday, which means it's time to get our little team together and celebrate you, the incredible She's On The Money community. Today, Ms. Gritchy is going to be sharing her favorite money wins from the community. Bec has a few broke tips that I'm excited to hear about. She hasn't let any cat out of the bag yet, so we don't know where they're coming from. We don't know how rogue they're going to be. We don't know if we have to edit them out because of legalities, but we're here for it. We're going to be talking this week about how to be smart with a payout

that you receive and we're going to be unpacking something that you slid into our DMs about this week. We're chatting about how to handle a friend who asks to be reimbursed for something that they got for free. Oh that's interesting. I can't wait to read that one out but before we get there It's just preachy. How was your week? Let's start there. Happy spring. I feel like day one, September 1st, I was like, we must spring clean everything.

And then you came wearing black for the first time I've seen all year. I literally never wear you. I know. So you found that in your spring clean. I literally did. I haven't worn this in like a year. Anyway. It's cute.

So I know why you put it on. Thank you. It's very cute. And because it's spring, but it's cold. It hailed at our house this week. It looked like snow. I know, I saw all of it. Instagram. Crazy. I had all of the pets basically on my head. Like when it was really windy,

I like woke up in the middle of the night because there was a dog climbing over my chest. And then when I looked around, I realized that on either side of my head, I had a cat and then the dog was trying to lay on top of me. And I was like, what is personal space? She doesn't exist in this house. It was scary though. I totally, were they scared? Yeah. They weren't like shaking scared, but they were definitely concerned and like, mom, help us, help us. Yeah. And both of those cats, they're not outside cats. They're only ever inside. So I'm like, what are you worried about? Nothing's ever happened. No one's going to put you outside. Yeah. You're fine. Don't even stress. Yeah, totally. And then Lucy's being a little princess because it's been raining so much over

the last few weeks. She refuses to go outside. So when you're like, you need to go to the bathroom, dog she's like oh no thank you I'd prefer to get a UTI that's all good that's all good and you're just like go outside so I'm literally picking up this loaf of a dog carrying her up the back steps putting her on the grass where she looks at me like I'm trying to murder her and being like go to the bathroom and she's like ah quick quick and then runs inside it's an experience oh it's scary out there but I mean Jess said the other day she's like I would do that like if I was a dog I'm not If you said to me, go way outside in the rain, I'd be like, I don't think so, actually. The bath mat's looking pretty good to me right now.

Don't tell Lucy she's a dog. She's not aware. She's not aware. Bec, what have you been up to this week? I also was really scared about that wind. That was really weird because my share house is like literally the front wall that is, because it's like two storey, there's like a room upstairs and then downstairs is like the front entrance and that wall does not really attach to the rest of the house.

So it's like, what? Any second. You're going to lose her in the wind? It's like a facade. Any second now, the front of the house is going to blow away, which is fine. Like, we love it there, so we'll take it. We'll take a house with no front, whole wall.

Yeah, you have been known for not complaining. Not going to be a mother. If your wall goes missing, you'd be like, damn, I really didn't want this to happen. Guess this is our situation now. I'll be like, no stress, but do you mind if we get a wall one day? But we're no bother. But, yeah, it was really scary.

I can just see Beck popping out and just getting a tap and being like, I fixed it. It's all good. Oh, yeah. Look at this beautiful open concept front house part. Oh, beautiful. Art Deco. I don't know if you've seen my window right now because my window was broken

months ago, but it's just duct taped. Duct tape fixes everything. It absolutely does. And there's no water penetrating that duct tape. But, yeah. It's fixed. Picasso. Exactly.

No, it's been a really lovely week, really chill. I kind of do nothing. So that's me. I love that. It's been nice. You sometimes need weeks like that though. Yeah. Well, I'm hoping that your broke tips are a little bit more exciting than the week that you've had then. Well, thank you so much. I think they might not be, but how was your week? Oh, my week was great. I had pets all over my head. I have been working my life away. We have a masterclass coming out. It has just been announced that the investing masterclass is going live very soon. The waitlist has just opened for that. And I'm just, I feel like this month is like my month. It's like everything we've been working towards for the

last 12 months, like in the background, we've been building this platform and like trying to make it absolutely everything we want it to be and more. And now I'm like a little bit scared because like everyone's going to have access to it, you know? So that's been really fun. how exciting yeah you baby girl you're so hard worker I'm so scared but that is okay I mean the whole team I feel like so many people message me and they have been messaging me while I have been posting about this they're like V when do you stop I'm like I'm sorry when does my team stop because like that wasn't me friend like I didn't do all of this like thank god they're here because otherwise it just never would have gotten out the door that's why I've been talking about it for

three years and saying it's coming it's coming it's coming it's finally here finally it's finally here and the team jess is gonna laugh at this the team have not let me talk about it or say anything online about it until we had every video recorded every piece of content uploaded because they're like b you've promised this for so long no more promising until there's an actual product that we can get out the door without having you as a hurdle and i get that i get that she's been a long time coming. It's very exciting. So I'm sure there's a lot of people out there who are pumped. I hope so. Cause like, I feel like I'm pumped. I cannot wait to dive in. So let's move on. Cause I want to go to the money wins, but before we get there, all of the information for

the investing masterclass is going to be in the show notes. So go there, join our wait list, because obviously if you're on the wait list, there is a special surprise that will end up in your inbox once it launches and you're only going to get it if you're there. So go and join the waitlist. I can't wait for you guys to dive in. But speaking about things I can't wait for, Miss Jessica Ricci, what happened in the Facebook group this week? What money wins and confessions are you bringing to the table? I've got some good ones this week. And I will say we had a lot of pet wins with plenty of pet tax being paid. So go have a look at the thread because there's lots of cute photos in there this week. I feel like because we talk about the pet

tax being necessary, people go, I have pet tax already on my phone. I'm going to go drop it in the thread. You are my people. So lots of fun this week. I'm going to start off with a money win from Melissa, who said she bit the bullet and she asked for a pay rise. It was really, really nerve wracking, but she ended up with $20,000 extra per year. She never would have had it if she didn't ask. Great. But now I'm thinking like, how long do they knowingly underpay her for? There is that. Yeah. But anyway, that's not what we're focusing on. If we asked Melissa, was the Scaries worth it? She's going to be like, yes, absolutely.

It was worth $20,000. Completely. Would you ask someone a really awkward question for $20,000? I would. Depends what the question is. I'd do it for much less. Next, I've got a money win from Mia who said her top tip is to buy Father's Day gifts from overseas when they're 50% off. She also recommends doing this seasonally for clothes.

She said specifically from America because obviously they go really hard for their holidays. and, you know, they just have a lot of extra stuff so it's really easy and affordable for her to get it discounted and so many sites ship here now. I love that. My Father's Day gift to Steve was that I made him a father, so you're welcome. Happy Father's Day to you, sir.

I'm the gift. Like, you are welcome. Aren't you meant to celebrate me on Father's Day? No? Okay. No, arguably the hardest and most impressive gift, like, I don't know, I just think that literally growing a human is probably the best gift you could –

No, do you know what? I did celebrate Steve because like I feel like it takes a very special person to be like a good dad and like, I don't know, also about celebrating me. I picked that, you know, I picked him. I was like, I picked you to be the dad of my kids. This day's about me. I'm a genius. Everybody does well in that situation. Next, I've got a money mint from Lizzie who said this is the first fortnight where she hasn't had to dip into one of her accounts. she's finally got her cash flow organized and she knows on her average what she's spending each pay cycle so now she can plan accordingly. I love that so much. Such a good win and a good reminder to review everything if you haven't already done that recently. Next I've got a

money win from Jessica. This one's for you Bec. Nice name. Great name. She was at her local NQR which is we mentioned it last week on the show A Chain in Victoria selling not quite right products and she found a six-pack of mini tonic waters on sale for $1. She's since returned the cans for the $0.10 refund at the recycling depot, so she effectively paid $0.40 for six cans of drink. Oh, how good is that? Doubling down queen. That is so clever.

Also, those tiny bottles of tonic are so expensive. Crazy. $1 for six is amazing and very, very smart to then return those cans. Yes. Double deal. Very smart. I love that. You could if you got, like, a 24-pack of something.

You could even be making money doing this. Potentially, yeah. It's like savings stacking. Yeah. Like, I'm just so excited about it. It's like what we were talking about the other day on the podcast where someone bought a gift card for their, like, fuel and then also got points, and I was just like, you are smart.

So clever. Extreme couponing, basically. Next, I've got a money win from Molly who said a local bookstore in her area was closing down and dumping a ton of high-quality books into skips and dumpsters. She spent most of her weekend salvaging them before the rain and all the rubbish being collected, and she now has thousands of beautiful books.

She said the best part is she recently opened a small pre-loved bookstore a few months ago. No, she didn't. How perfect is that? What are the chances? She can now triple the size of the store, and she did say, I doubt I'll ever get this lucky ever again. That is so wild.

So perfectly timed. That's the universe, I reckon. The universe providing. But also, I've been getting a lot of TikToks of stores dumping product, and I just want to say, why do we do that? Like, literally, they'll take perfectly good things and throw them out because maybe they were returns or, you know, they're out of season or whatever, and they have to destroy them.

I think they ruin them. I think that's insane. And chuck them out. Like, when you could donate them. Like, share the dignity. Like, they put together these handbags. And I'm telling you right now, even if it's not like an essential, like it's a hand cream or like some makeup or something, as long as it's not used, like those would be perfect for them to be like, I don't know. I feel like the share the dignity bags one of my favorite things about them is like they obviously

give women back and people back their dignity in times that they're experiencing challenge and having like a nice little piece of makeup or like some little special treat in there that's a beyond like making sure you have the essentials like why can't companies just partner and not throw good product out like it frustrates me beyond belief like the video I saw specifically I remember there was like hair tools and they'd cut the cords and stuff and I was like I get that maybe you couldn't donate something if it was returned and opened because as you were saying like hygiene and stuff but could you not just donate it or put it in a box out the front somewhere and just like a free sign on it and let people if one of people it just is crazy to me

that you would throw it out like I know but even if you donate it like I know if you donate to the salvos an electronic good they will test it like they safety test it before they sell it so like that's not on you and like I get that probably like Sephora doesn't want to have like a free box out the front but surely you could do a sneaky you know making sure it goes somewhere else like Jess you've posted on your TikTok a number of times like go to this charity shop because there's heaps of dish stuff and you just know that like in the background dish has been like hey this is old stock or old product that we can't sell but they're not destroying it they're sending it to a secondhand store, which I know some brands might see as like, oh, but it devalues. No, no, no. I am

more likely to purchase from you because I know that you're not taking the mickey and slashing stuff up just because you don't want it to be at a charity shop. Absolutely. I'm going to spend thousands of dollars in a place that I know is actually giving back to the community. That actually has good ethics. Have I talked about Good and Fugly before? No, what's Good and Fugly? It's like a fruit and veg company that kind of like sell all the ugly fruits that no one wants about it. Good and Fugly. That they're fine.

I love it. I know, that's so cute. That's it for me this week. That's it for me. Into the Broke Tips. You mind if I? Absolutely. Go on.

Your turn. So Good and Fugly, that's just like a little bonus for us. Yeah, that's true actually. It's not really a broke tip because although they are doing really good stuff for the environment and the planet, it's probably on par with. Are you saying I have to pay the same as normal carrots? Possibly. For the Fugly.

Do you know what? I would do it. I would do it. Yeah, because they're all the same. And you often get, like, more carrot for your carrot because you got, like, a little weird growth on the carrot. I like it. Picasso. So maybe that is a broke tip.

My mum grew carrots, actually. Complete side note. And they looked really fancy, like, up the top, like, heaps of, like, carrot top, right? Right. And so they pulled them out. And honestly, the carrots were real fat. And so, like, you think as you're going to pull them out, like, the top is, like, you know, indicative of a good carrot. I'm thinking, like, this is going to be lit.

and then they were, like, two or three centimetres, like, deep. Disappointing. So their dog Sunday used them as a dog toy. Like, we didn't end up using them. Did they come to a point still or was it too, like? No, no, no, it was just I think the word here that I'm thinking of is probably really inappropriate but, like, very fitting. It was very chody.

I understand. I was like, oh, no one wants those carrots. And so the dog was very excited to get a little treaty treat. Oh, that's so cute. What are your broke tips for today, Bec? Okay. So this one comes from Taylor who's prepping for a bodybuilding competition. First of all, go you.

That's very actually hard to do. I was listening to a podcast about this and it's just like the most intense diet and exercise program. Anyway, great stuff. I like how bodybuilding has made it to the broke tips. Very relatable, Bec. I love this. Where are we going? Basically, Taylor says that they put water in their yogurt, which I know doesn't sound great,

But because yoghurt's already quite like thick and creamy and you probably could get away with adding water to it and it extends it, it keeps you full, it's quite filling and it does not even taste that bad. So I would recommend if you just want to like. Water has no taste. Water has no taste and you can add things to add more taste. But basically it's probably a good way to just like keep your yoghurt lasting longer because it's actually quite expensive these days. Yoghurt is insane. Yoghurt, luxury item. You know what's more of a luxury item?

Kids yoghurts. I love a kids, I love a yoghurt. Yeah, but, like, why are they so expensive and in the teeny tiny pouches? Like, Harvey's not on them yet. I just see my nieces and nephews get them and I'm thinking, I'm never going to financially recover from this. Like, that and their consumption of berries in off-season. Insane.

Yeah, where are they getting them berries from? I don't know. They're parents who pay $7 a punnet. Checks out. Our producer is shaking her head because she has two tiny humans and I think she knows this all too well. this one comes from one of my friends she said that so right now there's like a hard rubbish collection i feel like i've probably maybe mentioned some variation of hard rubbish before

but i really recommend like googling where the council hard rubbishes are in your state or city and just like making a day out of it like we got a hallway table someone got a lounge they can get a fan a hallway table i love that because that's something that when i lived in a share house you're not getting me to spend money on that absolutely not absolutely not like no way but like would it be really handy for keys and just dumping stuff yeah absolutely exactly I want that but I don't want to pay for that I think hallway table and also you know there's like toilet brushes I don't think I've ever please tell me you did not get a toilet brush I have no doubt that you'd be like that's good enough that's not a hard rubbish item

That should have gone straight in the bin. If anyone's put that out for hard rubbish, I can't. I can't. If it's bad enough to be put out for hard rubbish, you know that that brush has seen some quite literally shit. That's how you know it works. And that's a no, but basically. It's like it's tried and true, Jess.

What do you want? A brand new one from the supermarket that's not been tested? You could tell it was tested. So I took it home with me. No, just kidding. What I meant to say was those are two things that I've never, I don't think anyone in the world, I've never seen anyone buy these items, but they just always exist somehow in your space.

I can almost guarantee that both Jess and I have both been the people in the share house that buy the toilet brush. Oh, you're the people. No, this is us. That is us. Okay. You are my boyfriend. Oh, the magic fairy just came and brought the toilet brush.

Somehow my laundry is always done. That's in not equal distribution of labour. But anyway, we're talking about off air. I remember a housemate one time, and this is the same housemate that- The infamous housemate? Yeah, borrowed my underwear. So wild. I remember her looking at me one time when we were in the kitchen, frustrated.

I was like, oh, you all right? And she's like, we're out of olive oil. And I was like, we? You mean my shelf in the pantry's olive oil is empty? And she just was so pressed that the apparently communal olive oil that I did not know about was communal, was empty. And I was like, yeah, like, have you run out of it? Like, you can borrow mine. And she's like, no, the olive oil is empty.

And I'm like, no, there's not a the olive oil. Like, it's my olive oil. And then there should be your olive oil. And at the time, like, olive oil was expensive. Like, I remember it was like eight bucks a bottle. And like, that was a lot. do you know how much olive oil is now? I nearly fell off my tree when I paid $23 for a bottle of olive oil the other day. And I was like, and this is just like the stock standard olive oil. Anyway,

I could go on a rant, but olive oil, not a broke tip. No, absolutely not. If you can hold it with one hand comfortably, you should not be paying $23. Yeah, exactly. If it doesn't have a handle on top. You need a handle with the little three little things. Yeah, exactly. Anyway, I can't afford that. I cannot afford that. No, no one can. We're not buying vats of olive oil anymore. I'm so sorry. We've really derailed. But anyway. Whole table. Back to my broke tip, my personal one. There's one I just happened upon on TikTok. It's called Nielsen IQ. It's an app. I downloaded it because it said on the TikTok that you can scan your groceries to get vouchers. I'm assuming vouchers for. That would have got you. Yeah, 100% immediately got me. But then basically you have to

go in, you have to fill out like a survey just to see if you're their target market. And then if you are, then you get the opportunity to scan your groceries for vouchers. So I was not target market. That's not fair. And I feel like I'm a very average person. Change who you are, Bec. I think I might have to change who I am. But I would recommend to anyone who's listening, just download at it. See if you could possibly be, you know, who they're looking for. And you might just score yourself some vouchers. I don't know what these vouchers are for. I didn't get that far, but I just knew that vouchers are present. I like that. I will do some further investigating. When you said I'm not the average person, do you genuinely believe that the average person would take a

toilet brush from Hard Rubbish? Well, I think so. Is that the line? I would think so. It takes all types baby it's people types they do ask me that they were like would you take yeah and they were like that was what excluded you yeah that's what got you kicked out okay because that well that makes sense all right i love it picasso let's go to a really quick break on the flip side we're going to be talking about a juicy money dilemma about how to be smart with a payout that you receive but then we get to have a chat about a spicier topic something you slid into our dms about this week about how to handle a friend who asked to be reimbursed for something that they got for free. Crazy. I can't wait. 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 ladies, my fiance and I have recently been paid out a $60,000 insurance settlement and we're wondering what is the best thing to do with this money. We currently have no debt other than our mortgage, which is the house that we live in. We don't have any money invested in stocks or property, so we're wondering if we should whack

this money on our home loan, invest, or use it as a nest egg for when we decide to have our first baby. Thanks. This is an interesting one because even though you own your own house and you said that you don't have any investments, do you have an emergency fund, my friend? What does that look like? What are your savings accounts looking? I just have a lot of questions. Yeah. And a reminder that we can't provide you personal advice. This is just a general chit chat. We can't tell you. Yeah, no, we can't. But I do want to know, Bec, if you came into 60 grand, what are you doing with it? My situation is very different, but I would obviously like put some of the savings. Oh, you don't have to disclaimer that. We already knew you're the type of girl who gets toilet

brush from hard rubbish. Yes. And I would be using that money to buy possibly more. But I think I would definitely treat myself I reckon I'd put like 10 toward treating myself and going on a holiday and treating my friends going to the pub you know doing all these things and then I'd put like 10k she's like and treating my friends like you're just so happy to look after everybody else oh that's so sweet and you know it's the most of the joy comes from the people you surround yourself with so if I'm just living my best life but no one else is not happy I'd Probably put $10,000 in savings, $10,000 in investing. So do you think that's a good – anyway.

This is about who's to say. This is about not me. This is about what you would do. $10,000 in fixing my car and getting myself things that I like – you know, I probably should now. I should be better with my money, but I still haven't, like, you know, gotten a really good quality, like, maybe I'd just buy a whole new car because it is so bad.

You could with that amount of money. You could. You absolutely could. So just fix up little things. Get a whole new wardrobe. Get, like, really good bed sheets, you know, things like that. And then the rest, you know what? I'd probably treat myself, honestly.

I think I probably would treat myself. Bec is spending $60,000 on herself. I love it. Let's flip the table, though. On the other side of the table is sitting Miss Jescarichi. If you came into $60,000 today, what are you doing with it? Team boring over here. I would save it.

I would save it. I would do the best. I'd put $10,000 into my emergency fund because one of my goals that I'm working on right now is increasing my, you know. Sorry. One of my goals is to increase my emergency fund, so $10,000 would kind of wipe what I wanted to do. I would, I'd probably split the difference and invest half

and put half in my house deposit and that would be it. Like it would just literally in one hand out the other to goals and stuff basically. So are you spoiling yourself? Probably not. Really? You wouldn't even get Uber Eats one night? I mean, you know what? It's already in her budget.

Yeah, true. So I got, actually, not quite close, but I got four grand back on my tax. Did I say this last week or anything? Okay, must be nice. Honestly, it's like I thought I was going to owe money. But I did buy myself a tax time treat. I bought a projector. So I feel like I would do something like that.

I would buy a little treat. Yeah, yeah, yeah. But nothing crazy. But I love this because I asked you, Bec, and then I asked you, Jess, and they were wildly different. so what is the best thing to do with a settlement is actually really subjective and what you do with it is completely up to you and that's not why you wrote in you've got a mortgage what I would be doing if you want to get the best bang for your buck like you've got 60 grand do some maths like

obviously put your values over the top of this and we've just seen a really good example of what values look like in different human beings. And I can't tell you what yours are, but if you're looking for advice on like financially, what's the best decision, do some maths. What does $60,000 in the share market look like in 30 years? What does it look like in your superannuation? What does it look like sitting in your offset account against your mortgage? Obviously, you've got some plans that you gave us a little bit of an insight into, like, is it for a future baby? What is a future baby going to cost you? We have a heap of episodes around how to budget for your first baby and what that looks like. So dividing it up based on your values is probably what's going to happen.

But when it comes to making the most of it from a financial perspective, like have a look at the returns that are in the share market. Have a look at what it's going to mean for your mortgage. 60 grand on a mortgage is definitely going to cut down the amount of time that you're paying off your mortgage for but then also remember if you're putting it into your offset account you still have access to that so it cuts down how much interest you're paying today but then maybe when you have a baby in the future you could use some of that as your nest egg so even if it's going to become a nest egg I want it to be a productive nest egg right like don't put it in a savings account where you're not getting any interest but also this is a probably spicy topic

if you have a mortgage and a savings account please don't forget that inside your savings account if you're earning any interest any interest you're going to have to pay tax on that is money that you have earned and so when you earn money here in Australia you have to pay tax on it however if you then had it in an offset account and it instead of earning your interest is cutting down how much interest you're paying, that could be financially better for you than a savings account where you're like, but I'm earning money, V. Yes, but you're not paying money. And arguably, because you don't have to pay any tax on it, you're saving more. So do the maths between the two, but always remember that you will be paying your marginal tax rate on any money that

you earn inside that savings account. So even though it's really sexy and it might be like 7% or something and your mortgage is lower, maybe it's more cost effective or financially beneficial to be against your lower mortgage because there's no tax element. I also just out of curiosity, to get an insurance payout, normally the money is needed for something. Like whether it's my house flooded or I got in an accident or I had a loss of income. So if 60 grand is your total payout, does it need to cover something? Because I would focus on covering that yeah and then 100% and I mean sometimes you're lucky and your insurances are set up really well and you get more than you need and that's love that for you but like I would

assume at least some part of that money has to go towards whatever the payout was meant to be for yeah and also remembering yeah that often within insurance if you get a payout it might stop you from getting a future payout so I know that some insurances might go okay Bec we're going to pay you out for this but in the future like your policy now has an exclusion for that particular cause and this is why it's so important to get good insurance advice to know what it covers what it doesn't cover because I know that if I get an insurance payout from my personal insurances I won't have exclusions because I have set it up and if you want to go check out Sky Wealth we'll put their link in the show notes but like if I suffer a personal traumatic event I know I'll get

paid out for it, but depending on what it is, I might get an exclusion for it or I might not. So like a heart attack, for example, in my personal situation, if I have that event happen to me and I recover fine, I'll get a payout, but I can get a future one as well. You're maybe suggesting that they sit on this. They maybe save it in case something else happens. To Jess's point, the insurance payout is usually for something unless it was like compensation above and beyond covering the cost like did you crash your car and it's worth 60 grand and you actually need a family car like what does that look like um is it an insurance payout because you know god forbid something

happened yesterday and you had a personal injury and now you need to modify your bathrooms renovations are expensive so it just depends yes should we get into the juice oh yeah you ready yeah always all right so here's a dm that we got this week hey she's on the money i need some advice on an awkward money situation a friend offered to drive us both to the airport for an upcoming trip and i was super thankful since it saved me the hassle of finding some transport but after the trip they asked me to pay them some petrol money the thing is i know that they get their petrol for free through work it's a perk that they've mentioned time and time again so i was surprised when they asked me to pay it's not like I'm not grateful I am it just feels really

weird to be paying for something that didn't cost them anything I don't want to seem stingy but I feel like I should bring this up or am I seeing this in the wrong way I mean there are many layers to this yes so many layers I fear so this is a weird rule that I have in my head but so VD if I said to you can you please take me to the airport yeah i would offer to pay you but if you said to me i'm going to the airport do you want to come like i would be like yeah do you know what i mean like i don't feel like you i would be like oh i'll grab us coffees in the morning or something like did the person was the person already going to the airport they were like it said they drove both of us so if i have asked someone to put themselves out in my mind immediately i go i should sweeten

the deal and be like can you drive me to the airport i'll pay you petrol or like i'll buy breakfast or whatever but if we're both already going and you just go do you want to jump in the car i don't know why in my mind that's different like i still would be like oh like i'll grab the coffees at the airport or i'll pick up breakfast at mac is on the way through or whatever but in my you're already going i get you i get you is that make me a bad person no no i totally get it Clearly not one thing could make you a bad person. No, no. Not paying people.

I guess I'm wondering, like, firstly, if I'm offering, I'm kind of on the same page as you but, like, a little slightly different. If I'm offering to take someone to the airport or they want me to take them to the airport, I assume that it's all free because otherwise they would just take a Skybus or a Uber or anything, transport, anything. Otherwise, why would you bother asking for a lift anywhere? Like, if you offer your being a nice friend,

Like, I'm not offering to get something out of it. Like, I'm just saying, do you need to lift to the airport? Like, I wouldn't expect you to pay. Yes. I guess it's also, like, also weird that you're asking to be paid after. After is weird. After is extra weird. Super sketch.

But, hey, Jess, I can take you to the airport. And then what, you get there and I'm like, cough up. Like, how uncomfortable. It's giving a foreign country where they're like, can I take your suitcases? And you're like, oh, sure. And then they're like, that'll be 20 euro. Yes. Oh, damn it.

when traveling and they're like oh I can take your suitcase up to the room I look like a crazy person I'm like don't touch them I don't want to tip you don't touch my bags it's fine we've got them we've got them yeah I guess like I'm also wondering I'm sorry I just realized at the start of my sentence is always the same but anyway we could maybe assume that they had to park there and maybe that's what they won the money for in the in which case they should say that but yeah Do you want to split parking with me or something? Split parking, sure. But I also am thinking like do they – sorry,

I didn't mention if they're going to the same destination. Yes. So the message said a friend offered to drive us both to the airport for an upcoming trip. Us both. Like if I said I offered to drive Jess and I to the airport for an upcoming trip, I would assume they're both on the same trip. I don't know why I'm – it's so hard for me to absorb that.

That makes so much sense. I think that they're both going together. They're both going together to the one destination. And then I was like, hey, Jess, you have to pay for the petrol. Yeah, I don't know. I'm not paying for the petrol. That's the next layer. You have to pay for the petrol.

That's the next layer. We haven't even discussed yet. So we haven't even discussed asking your friend for cash, which I totally think is fine, but do that up front. If I go, oh, hey, Bec, I can drive us to the airport. Would you mind shipping in $10 or whatever it is? Yeah. And, like, let's be honest, that's a bit of a joke.

Petrol is not $10 anymore. Like, I sneeze and it's $50 these days. um but that's when you have to communicate that because that's giving Beck the option to go no actually I already have a sky bus ticket booked I pre-booked it there was like a sale or something and you've got the option of saying no to incurring another expense like or you might be like oh no thanks my mum can drop me there like you might actually have someone who can transport you for free but you I could go on and on I think we're all on the same page though but then the But, yeah, the element of paying when they're not paying is very strange to me.

Like, if anything, I'd be going, oh, my God, VD, do you want me to drive us to the airport? I don't have to pay for petrol. It's on work. Yeah. Yeah, money wins. It's strange to me, unless maybe they, like, it would make sense to me that petrol's covered within work hours or there's a logbook method and maybe our listener doesn't realise that, you know what I mean, maybe the petrol's not actually covered. It's weird, even if that exists, to go back and ask your mate for money after incurring something that they probably thought was free.

Yes. Yeah, exactly. The whole thing is uncomfy. You need to set clear expectations. It's a bit sus. I would maybe ask my friend in this situation. It is awkward, but I'd be like, oh, did work want you to cover or did you get, like, be a bit cheeky, be like, oh, did you get in trouble from work or something like that?

Like, whether it came through the petrol. You're like, I'm going to dig your grave for you, which would be like a shovel. Yeah. Yeah, and then they'd be like, oh, that's right, I did tell them that work pays for my petrol. But maybe just make a little cheeky joke and be like, yeah, just say something like that, like, oh, did work get angry at you, whatever, and then kind of say, you know, I guess it depends on how much it is too

because if it's like $10, it's not enough to make a bit of a – I mean, it might be for some. But if it's super significant, oh, it frustrates me because obviously I think that if you're ever going to ask someone for money, we need to be setting clear expectations and not surprising them with it. I mean hopefully because you're going on a holiday you've got some extra budget for transport because obviously you can never predict what's going on on a holiday and maybe that can be part of that budget because it's going to depend on who your friend is as well because like I know I've got

friends that if I pushed back on them if they asked for cash I'd be like oh weird like I didn't think it was there and then they'd be like oh sorry I really should have chatted to you about it if I had someone else though like a different friend it would be really awkward like and it would make the friendship awkward and I wouldn't bring it up so I feel like read the room on it as well like from a personal perspective yeah whole thing's weird whatever I'll say yeah I don't like it not one bit we asked the community and no one's gonna be surprised they're exactly like us we said should friends expect money for favors like giving them a lift 87% of you said no favors should be free agree completely 13% of you said yep everyone should be paying their own way well that's cool

that's cool could you just let your mates know that you'll be charging them before you charge that's all we ask that's all we ask like I don't mind if that's your point of view each to their own but you've got to be super transparent about that yes you're gonna offer a favor and then say but the favor is gonna cost you babe that's actually not a favor that's a business exchange we then asked the community how would you deal with a friend who is asking for money when you don't feel like it's justified 59 of you you're she's on the money girls we're gonna have an open conversation good very good yes 41 of you said i'm just gonna pay to avoid the drama understandable you're also a she's on the money girl we then said all right give us your two cents

what do you think about this situation and as always you had some colorful opinions first person said petrol can be like an umbrella term for everything related to a car's wear and tear in insurance and rego and stuff you've driven me to the airport once i don't know that i need to be chipping in for rego just yet you're gonna be like oh but jess it's wear and tear on my car babe you were driving it to the airport you were already going are we talking about wear and tear on the passenger seat maybe they were just like kind of gross oh like i've done you know it's Yeah, it was the friend drunk and they puked in the car. They puked in the car, they were really sweaty,

maybe they farted one too many times. Someone else said, does her work cover all her fuel costs or just work-related travel? So I get that, but if you're going to do your friend a favour and offer them something, I think that that should be with nothing expected in return. And you know what I did? Jess is laughing, Bec is laughing.

They're all losing it. Sorry, Bec, laughing made me laugh. I'm really trying. Pull it together. Pull it together. beck because i looked up favor in the dictionary you did i did and it says that it is an act of kindness beyond what is due or usual with no expectation for service in return oh that's quite literally the definition so i mean you're meant to do a favor for free yeah but i'm thinking

maybe they like got their toll bill and their parking bill and they're like it's weird they didn't communicate any of this they're saying it like it's a normal request like it doesn't seem like they explain anything but it could be that they're you know they realize the tolls are like so expensive it's an act of kindness that has no expectation for remuneration according to google that's true yeah that's very weird you do a favor i'm not paying you that becomes a service i could have just booked an uber you became my uber driver turns out you were actually my personal assistant yeah weird but okay I didn't realize this was the dynamic um so I get that you're trying to justify that it could be a lot of things but I just I think as somebody who would be

mortified to ask their friend to pay me for a favor yeah I just couldn't do it it's a lot someone else said approach this with compassion maybe the friend is now having money trouble but doesn't want to say anything totally agree I was thinking that too but I'm like say that you know yeah I think it's in the communication to say hey oh my god I didn't realize how many tolls we'd hit on the way through, it's cost me $60, would you mind splitting it, is a much better way to approach it. Yes, you must give context. I can't just be like, Jess, give me $10 right now.

I mean, sure. I don't know if you'd want to, but maybe you would. You've got to give some context. Yeah, I completely agree. It's all in how it's communicated. It sounds like maybe, yeah, like totally valid if you're like, oh, God, it's so expensive, but like don't be a dick about it. The next one I think is going to make you laugh.

She says, play dumb. Go, I'm sorry, I didn't actually offer you petrol money. I thought your work was paying for it. How much do I owe you? Yeah, yeah, though, that's good. I would die. I would simply pass away. No, that's good.

Oh, sorry, I would have offered, but I thought, yeah, that's a great idea. Someone else said, if you give someone a favour, it doesn't equal money. It actually equals a favour of a similar amount. Oh, yeah, like in the future, like if they need a lift to the airport, you drive them. Yeah, but isn't that just friendship? Yes, and that's all. But then we're going into like expecting something in return territory. Yeah, that's true.

Someone else said, and I like this girl, she said, I always offer to drive if a group is going somewhere because I don't pay for my petrol thanks to my job. This is wild to me that she's asking for cash. Agree. It's like a pet. She's a good friend. Good friend.

Someone else said, offer to shout her brunch as a thank you instead. Someone else said, to be honest, if I thought I'd be paying fuel money, I'm just going to get in a damn cab. Totally. I laughed so hard because like sometimes if it's asked in the wrong way, petty me would have gone in the damn cab. I would have been like, that's fine. I'll meet you there. That's absolutely fine. Someone else said, I'd be curious to know if the friend had to then pay for parking at the airport because that could be expensive and perhaps she should have asked to split that. And then someone else, another one of our petty queens said, I'd be sarcastic and then ask, did you want that money transferred directly to you or

your boss's account? And then engage. Be for real. Be for real. Imagine me being like, did you want that in your account, Bec, or your boss's account? That's so cheeky. Oh my gosh. Please report back.

I'm curious to know what happens there. I need to know. Can we please have an update? Anyway, I feel like that is all we've got time for today. A little bit spicy, a little bit petty, but that's okay. because, like, money conversations should be fun as well as sometimes confrontational. So have the best weekend.

I have a fun episode, another solo coming for you tomorrow and then we're going to see you bright and early for a money diary on Monday. So have the best weekend, guys. Bye, guys. Bye. The advice shared on She's On The Money is general in nature and does not consider your individual circumstances.

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