My name's Sasha Bamblet.

I'm a proud First Nations woman and I'm here to acknowledge country t Glenn Young Ganya, Niana, Kaka yah y and Binahaka Nian our gay In Mbini yakarum Jar Dominyamiga Umagahawaka Woman, Damon Imlan Bomba ban Gadabomba in and now in wakah ghan On yak rum Jar water Nadaa.

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We thank acknowledge and respect the Abiginal people's land that we're gathering on today.

Take pleasure in all the land and respect all that you see.

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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 fun, especially on Fridays.

It is our favorite day of the week where we get to get our team together to celebrate you our incredible.

She's on the Money community.

Miss jessic Rici is going to be sharing her favorite money wins and Becky's back for a little cameo this week in between her little time off.

Becky, You've got a number of broke tips for us, which are going to be very good.

I feel like we've missed you for a few weeks.

You're back for a week, then you're going to go away for another few weeks, but we will get her back.

Don't worry, don't worry.

And we'll be helping to answer a money dilemma, whethernovated leases are a good idea when it comes to car financing, and something usefully into our dms about this week, whether you should stick at a job because of its earning potential or leave and chase your dreams.

God, how have your week's been thus far?

A lovely week.

I feel like I've been such a downer lately, so I have to say I'm having a delightful week, a lovely day.

It's just been very fun and nice and I'm so happy to be here with my friends and I'm just having a great time.

Oh you well, I just want to say, really, Qually, you can have it down a week as many weeks as you like.

Thank you.

You know, sometimes like you feel like you're.

You've been down for a certain amount of days and you don't feel not down anymore, be like, well.

Peeple probably think of it.

But now I'm going to try and be happy.

But you can be as down as you like and be just I would like you to not feel down.

No, I've had a had like.

A normal week, Like it's like not been very eventful.

I'm officially unemployed, so if anyone has any jobs going, let me know.

And other than that, I had to have a colonoscopy at started the week, which is.

I feel like I always say it's like scary, but it's actually not a like once you're done and you're like, oh, there's free sandwiches, totally, Yeah, it's.

Just being chill.

I love that you love that, oh honestly, live, love laugh.

I feel like what you have had a good week.

I know you've got a money when coming up because we also got spoil so like that made my week very very good.

And I'll leave that to you because I know you were like can I tell them?

And I was like, oh, I'm a jealous, but yes of course.

But what I do get to share, hopefully is a five star review.

Would you guys like to hear it?

Yes?

Please?

Okay, so this one is from Beagles.

Oh cute name.

I hope you have beagles use the name, and they said inspiring.

I've been trying for years to get my act together with money and just listening to the money diaries and becks broke tips.

I have finally started making steps towards getting out of debt and being financially free to treat my family.

Lovelya I love you Beagles.

Such a cute name.

Beagles feels like an illegally cute dog name, and it sounds so close to Beagel, like I would love to meet legal the Bagel.

Yeah, I know that's I would love to meet a beagle called Bagel.

I feel like that is good.

But I also just really love knowing people's dogs names.

So the other day I saw in the Facebook group that people were leaving photos of their pets and they're like, oh pet for pet tags, and I'm like, sorry, introduce your animal.

What is their name, how old are they, what are their interests?

Full bio, what are they good at?

What are their hidden talents?

Anyway, I need to know all of that.

And also, guys, we get a massive kick out of reading your five star reviews.

So if you haven't left one and you've been thinking about it.

Now's the time because we would love our egos to be stroked.

And honestly, every time you leave a five star review, it really helps the algorithm on the podcasting platforms pick it up and serve it to new people who might also love the podcast.

Repeat you, Yeah, exactly.

So, guys, would you like to get into it because, as I said before, Jess has a really fun money win.

That's like, I don't know a team money yeah, but yess what have you got from the community?

First?

Alrighty, so, first from the community, I've got a money win from Ashley.

You said she cracked six figures for the first time at this financial year.

We had a couple of other girlies, Evelyn and Carly commented underneath and said they did too.

That's sick.

I just wanted to say, that's so exciting.

Congratulations, guys, congrats.

Next, I've got a money win from and she said she modeled some nursing scrubs for a photo shoot in exchange for a pair of scrubs of her choice and a two hundred and fifty dollars ature.

She said it was a really fun experience.

It only took a couple of hours and it boosted her confidence.

Plus now she has really fun scrubs to where at work money scrub like.

I love seeing it.

Yeah, I love being at a supermarket and seeing someone who's finished a shift or whatever and they're in there like cute little scrub.

Yeah, totally, you have got your shit together.

And I hope someone gives you a free coffeevering scrubs.

You deserve, ye redeserve.

Yeah.

Next, I've got a money lost this week from Charlotte who said unfortunately she was having the worst day and then smashed her car side mirror onto a pole.

She called the mechanic to have it fixed and it'll be fifteen hundred dollars, which I'm so sorry that happened to you.

But the girlies came through because there were lots of comments under Charlotte's where people said, have you tried looking to see if you can replace the part yourself?

Have you done this?

Have you done that?

And then Charlotte eventually said, oh, I've realized I was very stressed in the moment, but I think I can just replace a small portion of the mirror and that's going to be a lot more cost effective.

Totally.

I did that literally the other day.

It cost me forty bucks to get a new mirror ship.

Really, and I don't, like, I don't fifteen hundred, I'm like crazy.

Somebody did say that their partner is a mechanic, and that is kind of a going ray if I'm assuming maybe if you have a fancy one or something.

I don't know sure, but yeah, always looking to you if you can do it yourself, because a few little comments and Charlotte's just saved herself presumably.

Quite a lot of money.

Yeah.

And then lastly, this week, I've got no money in from Hannah who said money win.

Have you found a much cheaper flight back from his trip to Brazil And as a result, he's stopping over in Greece for a few days.

I just wish I was there with him to enjoy it.

That would be so cool.

Yeah, I like, that's such a good little travel tip, like just stop over somewhere for a couple of days if you can, you might what you would spend on the flight, you could just spend in a different country.

True, you know, that's very true.

And then my money in for the week, we had a little team treaty this week.

I wanted to see it because I think it's so good.

You guys, if you follow it on Instagram, you might have seen.

We're working with Loxtan, which is delightful because we've discovered arguably the best life hack ever.

You pay sixty dollars, you go in, you get a little facial forty five minutes, totally customized to you.

They check your skin, they did our moisture, they did that.

We all did this by the way.

Oh yeah, Becky, your first facial.

First, and it's not going to be my last, that is for sure.

I was.

It was so gorgeous, just tell us more.

Sorry.

It was like a little group family trip.

It was a lovely outing.

So you have your console and then you get a little instore facial in their beauty pod.

They run you through all of their gorgeous products and.

The ghost was so nice.

Literally, I was like, can we be friends after this?

I'm obsessed with the girls, like they may.

The experience so incredible, and then you've paid for your facial.

You've had you facial.

When you leave, you can redeem it on face care products.

Which was my favorite part because I don't know about you about halfway through the facial they were like using this product and thetel yes, absolutely, and they are like putting this all over my face and like they have magic fingers like girls who do facials like your hands are next level.

I was like, what is that?

What can I smell?

Why is it so good?

Yeah?

And I got to take it home with me.

What a good money win, Like you're basically redeeming exactly what you spent on the facial for the product, which I think is such good value.

You can only do it the day of will pop all the information in the description bucu it selects stores.

But yet not all of them have the little facial bus, so like you can't just pop into any but like the ones that do are next level.

Is so good, perfect little lunch break treat and beck you learn how to say locksit on.

So that's so good money win as well.

I fear because I feel like, so if for those listening, if you don't know what locks of Tan is, you do know what locks of Tan is?

I was saying locatine because it's l O C C I T A N e yes, but it's pronounced locks of tan.

Oh my gosh, he will Oh my goodness, it was so gorgeous.

Was like the perfect amount of time.

I thought I would get like really shy and like awkward, but it was like so good, like they're so good at it.

And I actually ended up being like messaging everyone all my friends being like I need to give you a facial because like it was such an experience.

I felt so zen after.

It was just so nice.

I think my favorite thing was because we were like snooping around well, Beck had her facial, like her laying in her chair with her like headband on.

She looked so zen too, like it looked.

I was like, sure, right, she looks like out of it, but she had a good time.

Yeah, and like what a good intro facial as well, because it's not like a massive two hour thing that you have to can.

To a crazy expensive sixty dollars is so cheap.

I just feel like that's a really nice, like I don't know, a gateway facial.

Oh yeah, because.

Like now you're probably like, oh, I definitely do it again.

I don't think I could have convinced you to go to a massive salon and like booked in for a big deal.

No, But it was holistically like so I was just so then I'm so excited.

I actually want to go back after this.

And I mean, you know what was also really good while you were having your facial, just and I went and got your cheese.

So that was winds around.

All right, enough talking about how we got facials, because I don't know if that's a broke tip.

It's definitely a money with the money win, but like maybe it's a broke tip as well.

I did say get your bus to pay for your facial.

Money, you also broke tip.

You get the facial and then use the products as.

A kid for your mum.

Jees goodness, Sorry, I won't take your broke tips.

Beck.

What have you got this week?

We've got a couple from the community as per So.

The first one comes from Jenna, who says, I have a light colored hoodie I was going to throw out as it came out of the washing, she with stains on it.

That happens all the time.

Why does that happen?

You know what I mean?

Like you put something in it comes out with a state a die running probably from like something else.

I see.

That actually makes a lot of sense.

And so what she did was she got some die I did this too with one of my old jumpers.

I was like, it's so it was white, it was so stayed, and then it just brought like an eight dollar die from Woolwords.

I think it's right rye or something.

And then Tea rit dye.

Oh Rich, sorry, Tea sorry, it started to make sense.

I use that all the time.

I mean, it's not like I die everything every week, but whenever I am dyeing something, I use the rit diet.

It's really good.

Yeah, totally, And you have a whole new jumper.

And so this is what Jenna did.

Just got some dye, died at a darker color and saved buying a new hoodie and it looks brand new, fantastic.

It's so good.

Also side note another brute tip.

I think I've shared this before on the podcast, just like refreshing your blacks.

Sometimes you've got like your expensive Luela Lemon leggings or like whatever leggings you've got.

I feel like everyone's active where it's always black unless you're me.

Being able to like pop it in the washing machine with some black die makes them look brand new.

Takes that, like you know how black can be a little bit faded.

Yeah, take your black clothes fourteen dollar die seven dollars on sale money when new fresh.

Black's, oh my god, it's actually so smart.

Yeah, and so much bet everything.

And it doesn't stayin in the washing machine.

No, absolutely not.

And like I mean, I don't want to like give rich too much airtime because they're not paying for this.

But you can actually get if you go to Spotlight, not just the supermarket, you can get die pods, so it's even easier.

They are a bit more expensive than like you know, doing your mix it yourself, but you can get the die pod.

You take all the plastic of it, pop it in the washing machine and it basically bursts.

Well, it's in there, stains your clothes.

Like have you do you remember ever doing the whites looad and then leaving a red thing in there and it ruins your washing.

This doesn't ruin your washing, It does the opposite.

It actually fixes your washing, washes it all out, and then you just hang it out to dry.

Gorgeous money.

Seriously wrong section of the broadcast.

What else you got back?

Sex one comes from a lease who says for any academics or people doing research and trying to like access any papers.

If you have access to the author's details, try and find them.

We can email them and usually they're more than happy to send it for free.

Maybe that loves the idea of them sharing that because they just like love knowledge and they want people to have it.

Yeah, that's really naive, but that's that seems so lovely that it totally is.

It totally is, and you guys already know.

But I don't know if everyone who listens to our podcast knows.

But I actually have my own money callum in the Age newspaper and in the Sydney Morning Herald newspaper, which according to my parents is like actually a really big deal.

And like, I think it's pretty cool because I get a thousand words a week to yap and like you can't say anything about it is my opinion column to what I want here.

But I get paid to do that money win.

But I don't get paid perview.

I just get to write the article.

And that's how most pieces of content exist.

So I know lots of platforms don't pay their authors.

They might say, oh, like it's for the exposure, you'll get more work from this, which I don't subscribe to.

Thankfully, I do get paid, but usually you get like a set fee or did you know that you get paid per words sometimes, so some people get paid per word anyway, interesting.

Adding in words.

I know, I know, I don't get paid pertendancy, honestly rude, but that's okay.

But they usually get paid.

So once it's on the platform, there's no benefit to the author anymore.

The subscription and stuff usually goes to, you know, the owner of the platform.

They might just do you a solid and sneak it over to you.

Yeah, yeah, my articles shot just to be clear.

Yeah, no, so worth a shot anyway.

And then my one my friends send me this.

Thing and I thought it was just from Merrybeck Counsel.

So Mary Beck is like, you know, Brunswick, all that kind of area, and they're basically doing a like parking fine refund situation, and so it's you may be eligible.

I for some reason, wasn't with your five hundred five had a thousand parking.

Fines, surely one of them is eligible anyway, none of them were.

But and then I love a lovely producer googled it and I think there's like a few councils doing it at the moment, so maybe just have a Google and see what is available.

But for Merryback in particular, all you had to do was kind of you just had to use your regro, just chuck it in and if something's eligible, then I think you have to prove that you were the I guess recipient of the infringement.

But it'll be different for every accountcl it would be different.

So that's why I'm saying, Like with Barry Beck, that's what the process was.

Yeah, well I needed was my registration and then yeah, for some unknown reason, nothing was eligible.

And I'm like, every single day it feels like I've got a new parking fine.

So I'm I mean, I'm going to keep trying.

Don't take me a pun for everyone.

Yeah, So good to go.

All right, guys, that is it for this side of the episode.

We're going to go to a really quick break because and quick I say, because.

I want to get into this so much.

We're going to talk about whether novateed leases are a good idea when it comes to car finance.

And you slid into our DMS about something this week, whether you should stick at a job because of its earning potential or leave and chase your dreams.

Don't go anywhere.

Welcome back everybody.

Let's take a listen to this week's money dilemma.

Hi.

There, have you got a money dilemma you just can't solve.

The She's on the Money team is here to help.

Every week we tackle your dilemmas, both big and small, to answer your most burning money, career and life questions.

To get involved, simply head to our website and leave us a short voice recording and you might just find yourself on the show.

Now, let's take a listen to this week's money dilemma.

Hi, She's on the Money.

First of all, love the podcast.

Thank you so much for putting it out there for all the ladies and everyone else every week.

It's very entertaining, very motivating, and very educational, so really appreciate it.

My question for you ladies is about norvated leases.

I run a small business and I've recently had an employee ask about the potential option.

I don't know much about it, quite honestly, and I was wondering if you guys could explain what anovated lease is the difference between a normal finance loan and the benefits for an employee as well as an employer that would be really appreciated.

Thank you, and keep doing your thing.

Ah, that's so sweet, thank you.

I don't really know about how norvated leases work everywhere, but I just know that at my job they did butter it up a little bit because we have a company that is attached to our company that offer this, and it's like it kind of comes out like the repayments come out of your pre text seller, and so I was like, okay, let's have a look.

And then I like kind of like inquired, and then they set me like a full breakdown, and it was just I was like, I just want like a shitty little secondhand car, no more than I don't know ten k, which I know is already a lot.

And then they set me the full breakdown, and I calculated that my after tax pay would pay the exact amount off no interest.

But then the pre tax pay it was like sixty thousand dollars and I was like, are you telling me that I'm paying sixty thousand It's something like that, something crazy.

It's insane on the car because it's like the benefit is that you barely notice the repayments because it's coming out of your pre tax salary but yeah, it just felt really sneaky, and so I don't know that this is the situation everywhere.

I just said that in this particular situation, it was very like, Yeah, it was just very sneaky, and I think they did it in a way.

It was like, look, after tax, you're only paying the exact amount of the car.

I was like, no, but I'm paying way more, I fear.

So I don't know if that's the case everywhere.

I just be really cautious.

Maybe I had so many questions.

If you're saying that you inquired on a ten thousand dollar car and then it was going to be sixty thousand dollars, like what the hell novated lease that are you using?

Because that's not just crazy, that's like illegal, No, not illegal, it's not do you know what.

Unfortunately, things like that are never illegal.

If you signed a contract, like if you were given the information that said, oh you can borrow money from Bill and he'll you know, charge you ninety five percent interest, and you, you know, maybe didn't know what you're doing and signed it.

Still, sorry, that doesn't make it illegal.

It means that they had a really good deal and you got a really terrible deal.

You did the right thing, doing the math and doing your own research.

Yeah, one hundred percent.

Jess, would you do an ovated lease?

What are your thoughts?

I mean, I'll be honest, I don't know a huge amount.

We did an episode on novated leases, but that was purely from an employee perspective.

Some very interesting to you from you on like the employer that like why would an employer offer it?

Yeah.

The other big benefit that I know of novated leases is it had it will reduce your taxable income.

Man, when if you're someone who sits in a higher tax bracket or you're just teetering on the edge, then doing an ovated lease could bring you down, which is obviously often quite a big benefit, depending on what that looks like for you.

I personally, this is one of those things, like my parents always said, that just has all it exists in my head and it's not even necessarily correct, but it's just so drummed into me.

But like a car loan is one of the stupidest loans you can get, and I know, big fat caveat on that most people can't afford to get a car up front.

That is such a privilege to say in the same breath.

They would also say buying a brand new car is often stupid because it devalues when you drive it out.

It's like in their minds.

So those two concepts went hand in hand, and that's something that I've just kind of carried on.

So like when I bought my car, it was secondhand, and I saved fruit in cash and it took me a long time.

Okay, big dog, I know it was literally every dollar that I had.

I really cried, but I did it.

And I mean I say that it was I think twelve thousand dollars.

What was that?

So much money?

Oh, especially of money, the money that you had at the time.

And it's very privileged that I could do that.

Now, it wasn't Actually it was hard work.

But I recognize that not everybody.

You know, there might be an emergency.

People need cars to get.

Like, don't get me wrong, I think we Sorry, I just really want to derail this completely.

We talk about privilege a lot, and like we are so privileged, like you and I are sitting on couches in Australia.

We have so much genuine privilege, Jess, you and I are white, Like that privilege is undeniable.

Yeah, but I also hate.

When people say I'm so privileged to be able to Sorry, you won't given anything, Jess.

Your parents don't fund your lifestyle.

They have never financially supported you.

You have always worked as hard as you possibly can to save every single dollar, and I just I get quite frustrated when.

Even you do this back.

And it's so nice because I think that you know, privilege checking is really important, but like, you worked your butt off, and I don't always want to palm it off to privilege.

Yes, I'm going to ignore each my privilege and talk about those things, but I don't think every time we talk about, hey, I actually achieved this thing, you have to outline the privilege associated with it.

I try it very hard.

To make sure, especially on social media and like content, to always contextualize it to go hey, cool, like I am really lucky to have all of this, but you worked really hard for that.

And I think in friendship conversations and stuff like, you don't need to go, oh, I'm really privileged.

I saved twelve rand for my first car.

Sorry, Jess, tell me how you did that?

How did you save twelve grand?

I worked three jobs?

Thank you?

I just don't wannyone to think I'm shitting on people who do know You're not You're not.

And do you know what, there are a lot of people in our community who work three jobs and still can't save a friggin dollar.

And that's timely, friggin hard.

Yeah, And we hear.

You, and we know you're there, and we hope that at some point these episodes are inspiration that you too can put yourself in that position, and you too will have the freedom.

But some times, do you know what?

Just getting by is enough?

Absolutely?

And so I think, like back to the Q, would I try about it?

No?

Yes, so fine now, but you buy amen?

But I think would I take out an ovated lease, I would look into it, I would run the numbers, I'd probably talk to you, But I my preference for me personally has always been where possible to just not take on a loan.

Generally, Yeah, I think anovated least can be a good option if the tax benefits are big enough.

But if you're paying sixty thousand for a ten thousand dollars car, then I just think, yeah, that's crazy.

But I feel like you're much better placed.

Yeah, and I'm going to stop talking about other stuff, and I'll actually tell you about an ovated lease, and the name should be something that you consider as well.

We're talking about a lease, we're not talking about you purchasing a car.

It's not a car loan.

It's not a car loan.

And my favorite way to think of an evated least is a three way.

Yeah, it's a three way, and it's between your employer, it's between you, and it's between leasing company.

So your employee they lease a car, and then the employer agrees to take on the lease or a payments using a mix of the employees pre tax and post tax salary.

So if Jess, you came to me and you said, oh, in a novated lease and for some reason it made a lot of sense for you personally, and I was happy to do that.

I would just organize for your pre tax and some of your post tax income to go.

To that company.

Yeah, but the company is involved to basically take care of all the admin and the finance side of things and like honestly the car maintenance and you can deal with that after that.

And it's sometimes known as salary packaging.

So we've talked about this before and I mean for the employee, there are a number of benefits.

So say you don't have a car and you need a car, you don't have twelve grand to buy one, right, There are tax savings so kind of money when like lease payments are made.

Partially from your pre tax income.

Which reduces your taxable income as you were talking about before, Jess, which potentially could result in more take home pay potentially, like if you did your numbers right, to be honest, you'd have to be on the cusp of a salary band for that to make sense.

And there's a very small amount of people that I think would hit that convenience salary.

Packaging a car like putting it on an evated lease, it's bloody easy.

Like the car.

Repayments, the fuel, the maintenance, the insurance, you're regiro all into that payment and you can and if you're someone that likes those things, right, yep.

And I mean it's relatively cash flow friendly, Like we would say that it reduces the upfront cost.

If you're having to save twelve grand, like you don't need a deposit, that's kind of a money win you could probably then I'm not trying to pitch this to you, but like, you know, if you had five grand as a deposit, the car you could buy for five grand is very different to the car that you could potentially afford through an ovated lease.

So maybe you're like, oh.

I could afford to buy a newer or a better car than purchasing a five grand one out right, and there's.

No GST.

JST on the purchase price and running costs is often not paid by the employee because the leasing company claims that and that's where their benefits start to kick in.

If you flip it, like you come to me and say, hey, own anvated lease, Like, what are the benefits for me as an employer?

It's valued perk, Like you're probably going to be like, oh my god, through my.

Work, I can get this novated lease.

Lots of companies, bigger companies usually find an ovated lease partner so in their salary packaging they can say, and we can give you this because it sounds shiny.

Yeah, I don't love it because I think that that means that talent and people that want to work for you maybe think you're attractive, when that's not.

Actually the biggest perk ever doesn't cost me a cent it does cost me a little bit of admin.

I mean, I've got to set it up with the leasing company.

I would have to organize your pay.

But once that's done, that's fine.

And to be honest, just we have a bookkeeper at she's on the money that like organizes all of that.

I still do the pace like I process them manually still because I'm good trolling, but like somebody else, we do the calculations for me and then each month tell me, hey, you need to pay ex here and why here, and then Jess's salary leftover would go into her bank account and I'd be like, okay, cool.

And then FBT.

So you might have heard of FBT before.

And I was having a conversation with my friend Shelby the other day.

Actually she's a business owner as well, and we pay a lot of FBT in this business and that's okay.

But FBT is fringe benefits tax and it's forty seven percent, and fringe benefits tax is something that we pay on benefits to an employee that are above and beyond what the government deems to be like the minimum.

And like, this is not me complaining.

In fact, I'm proud of the fact that we pay FBT because we do go above and beyond it.

She's on the money to like reward stuff and you know, gift them things that we think that they would really like as opposed to going, Oh, I can actually only spend a top of three hundred dollars on my staff member each year, like that wouldn't work with all of the lunches and the dinners that we go to.

We do gifts, We do a lot of travel.

That travel sometimes like has to be split between Okay, well that really was kind of a holiday for everybody, Like we took a few days to go to Disneyland.

We can't claim that on text, but we can claim the part we were at the conference, right, So FBT kind of adds up in our business.

And I'm just giving you context.

I think as it's pervy interest, it's just interesting and you might go, oh, well, why would they do that?

But often it's FBT neutral.

So usually it's offset via the employees post tax contributions, so the employee pays, not the employer.

So like, FBT not my problem yours, Jessica Ricci.

I mean I feel like I've sold it.

I've made you go, oh, do you want annovated lease.

Now you're probably like slay like I can see begspace.

It's interesting conversation.

Later, let's just point out a few of the red flags.

Girl, You would be locked into a lease, not a loan repayment.

A lease, you're borrowing the car from them.

If you leave your job, you actually have to take over the payments in full in your post tax income yourself, or find another employer who would take that over for you.

So before you ever take on an ovated lease, please check if you can afford it post tax, because you don't want to be stuck in a job.

And we'll get to this in our perfect question, but you.

Don't want to be stuck in a job because you can't afford car repayments totally.

It's also not always cheaper, so depending on your income, your car choice, how much you use it, how much fuel goes into it, it can actually be more expensive.

And I mean you touched on this before, Beck than just buying it out right or going and getting a car loan.

I am not recommending a.

Car loan as just a you can have a new car every couple of years, Like I am very much on the what would you say I'm on the team of buy a car, thrash it, drive it into the ground, drive it into the ground.

I know a lot of people go, oh, but you want to like resell it, Like, I'm not buying a car for resale value.

Most of the time.

I'm buying a car because I need to get from A to B.

And you best believe I am getting the most out of this vehicle completely, like I would want it to last as long as possible.

And Jess, you know this, But I don't think Beck knows.

I drove my car that I bought way back when I have my very very first job until I had a baby because I couldn't fit a car seat in it.

Yeah, and then I was like, damn it, we need your car.

I was annoyed by that because I was so excited about how economic that little car was.

Yeah, girl, Petro was so cheap.

If you have a cheap car, that is a flex Like, I don't want to see your big, bougie expensive car.

I want to see your cheap card.

I want you to be like I'm a big dog with of this.

Like anyway, just keep it clean, all right, Like, just keep the shit inside your car clean.

We could be proud of it, irrespective of how much it is worth.

So with leases, because it's a lease.

Not your own vehicle, there are kilometer limits and we're in tear costs that might come into it and rules that you might not be aware of.

And you actually don't own the car unless you completely pay out the lease.

And sometimes you get to the end of the lease term and then they go, oh that's great, Beck, so to buy the car.

Now, did you want to buy the car?

And you go I thought I did.

Yeah, it's actually another seventeen thousand dollars to buy that car outright from us.

Oh my god.

And that's where things, you know, add up.

But I mean, it doesn't really matter how it really impacts the employer.

As I said before, admin it can make exits complicated, like if I want someone to leave the business, or someone wants to leave the business, you need to work out least transfer and like logistics and what if they don't want the car in any way, It can be quite complicated.

And then it can also be a little bit confusing.

So if a company and this is not offer me personally, it can be confusing.

It's a if this is not community catered properly and you have been given a salary package back or jess and it says you can get an ovated lease.

Sometimes you might think that you get a car with your job.

Yeah, and you don't necessarily get a car with your job.

You could pay for a car and they give you this structure to buy a car.

But like I have seen people in our community who have novateed leases and they're like, God, it's great, it comes with my job.

Yeah, well, actually it would have been better for you to take the cash.

And they didn't know that was an option.

They just thought that they had to get a company car quote.

Yeah, And I think that that is a bit of a red flag because it's not well communicated in your comms with whoever.

Yeah, So whether or not it's a good option is completely up to you.

I remember growing up, my dad always had an ovateed lease through like the business he worked for, and it just made sense for them, like because my dad was a car guy and loved it, and like it just made sense for me.

Find if you just purely base it on the financials, I'd say no, no, but that's just me juicy DM Oh my god, I can't wait, all right, So the juicy DM this week has come in and like already had our community and our team talking.

Hi, she's on the money.

I need your help.

I'm in a job where I could earn really good money, but it'll take time to climb that ladder.

I've always wanted to be a teacher.

I'd have more time with my kids during school holidays, the option to work anywhere, and perks like discounted school fees, which is honestly a money winning this economy.

But the idea of going back to study for a few years and taking on another forty thousand dollars worth of debt is making me second guests literally everything.

I keep thinking, the more I earn, the more I'll be able to give my kids the life I had growing up.

But what if I chase that and ignore a job I've always dreamed of.

I have three kids, and I'm so anxious I won't be able to support them financially like my parents did for me and my sister.

What would you do?

What would you do with your three kids?

Beck?

This is so when you first like tease.

At the start, I was like, follow your dreams, girl, But then I'm like, like, I kind of a little detour, but like, what do you actually do if you can't afford school fees?

Like does public school fee like public school option?

Oh, so there's like private school and that's with but there's no fees with public school.

With the public school, they're very low and then there's a support for people who are in lower socioeconomic areas or people financial hardship, whereas at a private school, I mean they could be scholarships and things, but it's generally much more expensive.

Also just too but in their elbow recently announced that they are now fully funding all public schools in Australia.

Is actually very exciting because for a while there were always like top ups and things that had to happen, and obviously that is not actually possible for a lot of people.

So fully funded schools like not private schools, obviously that would still great.

I'm team public school.

I went to public school.

I don't think I turned out that bad.

I completely agree.

It's a conversation, and I mean it's a conversation that my husband and I have been having recently because.

We have RV well and we're like, well, what do we do.

We meant to like you know, and we thankfully and very again privileged to be in this position where we are having a conversation where I'm like, Okay, we have this cash flow.

Should we continue to invest it.

Should we redirect our investments and our you know, life savings into a private school?

Is that something that is of value to us?

Or should we be going down the route of a public school.

I mean I went to public school.

My husband went to public school.

He ended up going to like a private school for like year eleven and twelve, but like before that, I believe it was a public school.

I don't think we turned out that bad.

I don't.

I actually don't know what the difference is.

So a lot of people argue that private schools are better resource.

So there's I would say, I believe a misconception that private schools have better education levels that they're you know, often the classes are smaller, so you know, you can have more attention on each student things like that.

And yes, they are better resource because they charge a lot more for people.

They've just got more cash, and I mean, more money means more resources, right.

But like you know, if you look at test scores, a be things.

So the public school I went to was in an area where there was I think four private schools and one public school, and so obviously the public school took everyone who couldn't afford to go to private school, which is the bucket I fell into.

And the big thing for our area was the public school tested better every year by far than any of the private school.

Cool, which kind of so good, that's such a flex Yeah, I think.

Like private schools often have like fancy I remember one of them.

We went to their theater.

They had fancy atrium and they have all of these cool things.

But like who cares?

Yeah it does.

Some people care a lot, like mean, like no mean parents would care.

But like as like when I was when I just don't know, you don't I would.

Never I would None of that would ever have changed how how much I gets head in school.

I did not care in school and.

Don't even care.

If you paid more for this, I'd care less.

Yeah, that's the case for probably a lot of kids anyway.

Sorry, Yes, it is a whole conversation.

I am going to make the assumption and put it on the table that this person clearly wants to pay for private school.

Yeah, they're saying they get the discount.

That would be my assumption.

Person who's clearly decided that's a value to them, and pop off like that's why.

Totally okay, that's good because I I didn't understand the school feast thing.

I was like, like, that just seems really mean that they're anyway, But this makes more sense now, So I think in that situation, God, it's so hard with kids being involved, because usually I would be like, just follow your dreams because in like thirty years.

Responsibilities, I know.

I'm like, that's it.

It's a challenging situation to be in because you feel this responsibility to give your kids absolutely everything and the best of the best.

But if you're not your best, how are you giving your kids everything if you're unhappy?

That's what I mean.

And so like sorry, as I was saying, like I think that if you yeah, usually I would say follow your dreams and all this kind of stuff, and I usually my advice would be like in five years time, you could be five years closer to your dream or exactly where you are and maybe making more money, but like not very happy.

And I think that really the best thing to do would just be like kind of figure out what your finances look like and really just like sounds very boring and also I don't know, but just like write down everything that you can possibly see coming up in your future financially and figure out if it's actually going to be doable, and if it isn't right now, then in the future maybe when your kids are a little bit more independent, or maybe when like all these school fees and things like that you don't have to worry about anymore, even if that means you have to wait until they're like eighteen nineteen, just so that eventually you'll be able to do that and be able to live your dream and pursue that.

But if it's not feaesble right now, I think, do the financially smart thing.

Crazy, Yeah, but you've got a responsor and I can see where you're coming from, Like you've got this responsibility and it's crazy because I know both of you don't have kids and I do.

And I was always like, I'm just going to be me, like I'm always going to like want to do these things, but like once you have a kid, you're like, it's so crazy and I never thought i'd be this person.

But your priority is shift.

It's not just like, oh, I want to spend more time with my kids.

It's like I would give up everything for that kid.

Like, if you're telling me he can't have something, I'm telling you right now I'll bend over backwards to make sure he can.

And it's not about entitlement or spoiling your kids.

But if someone said this is the best option for your child, I'd be like, Okay, well we're going to have to do it.

Yeah, what would you do?

You've got three kids.

I would say I do agree with bex perspective.

I am someone the majority of my friends are teachers, interestingly, and they teach.

Him teacher vibes, you'd be a great teacher.

I always loved his honey growing up.

I think that I would say, talk to some teachers because my friends teaching both private and public across the board.

The feedback on teaching that I personally not great.

It's an underappreciated, underresourced, underpaid industry based on whatever and has told me.

People are exiting the teaching profession on mass at the moment, like they're putting bonuses into encourage people to be teachers because there's almost a shortage because so many people are leaving the profession, not to say that you will not enjoy teaching.

Plenty of people to research, do your research.

Can you volunteer in a classroom?

Can you get a teacher's aid role or something that.

Does Oh yeah, that's a good one.

Yep, yeah, something it doesn't.

Require you to have a qualification to take on the hextet, et cetera, but can give you a bit of a taste of what it's like, because I think, you know, my friends were all they went into teaching because they were really passionate about, you know, the next generation, and they have so much love to give.

They want to nurture, they want to do all of these incredible things.

But the reality of what that is sometimes doesn't always line up.

And of course there's lots of teachers out there who love their jobs.

And you know, I'm not saying that you wouldn't like it, but I'd say, before you take on this debt, particularly because something you're stressed about, can you test the waters first.

Yeah, I would agree with that.

I have had a friend move from a corporate role, a very corporate role, had babies and decided that teaching was for her, went into that and like she does it she was born to be a teacher.

Yeah, like absolutely through and through the conversations I'm having at the moment.

I caught up with her for dinner a little while ago, and she was saying, like, she's really struggling because she's quite a creative person and like likes to give a personal experience to each child because, as you would know, lots of kids need more and some kids are quite autonomous and like, you know, everything happens in a classroom and she's in a public school, so it's quite hard.

But they're moving to a model where the principal was saying that you would be able to walk around all of the grade three classrooms and at the same time, every single day, every single teacher would be teaching exactly the same thing.

Yeah, and she's like, I understand, And apparently that's becoming the norm.

And lots of schools are structuring this because they're like, no, the curriculum is this, and like it kind of makes sense to have yes standardized and like you know, if you step back and go, yep, it would make sense that every single student gets allocated the opportunity to learn absolutely everything, Like but then you go personalized experience, like, there's just so much to it, and I can tell that's frustrating her.

So I like that.

I'm going to talk more.

I'm going to assume you've done your research.

I'm going to assume that you know you want to be a teacher.

I'm not going to question your decision.

There.

I wouldn't worry so much about the HEX.

I'd worry more about the work life balance because the hexs you know what, that's not life ruining.

That is money that you're investing into your education.

And I never think that's a bad thing unless you're just going into a degree and you haven't done your research and you're like, oh, I wish I didn't do that arts degree that literally got me nowhere cough victory.

Divine started there.

That's why I transferred into psychology after one year.

Anyway, I think it's really important that you're thinking about work life balance.

You've got three kids.

How are you going to fit in study?

Are you doing it full time?

Have you talked to your partner?

What does your budget look like?

If that's the case, could you do part time study?

I mean you could break it up.

I believe you have ten years to do a teaching degree, so you could literally do it over ten years and then once your kids are in high school then you can go into that.

And I mean, if this is something you're wildly passionate about, maybe doing a unit here and there, it doesn't feel like as much work as you know it would if you were doing something that you don't love.

But I'm very much a believer in chasing your passion.

I would hate for you to get to sixty and be like, yeah, I really wish I had a different career.

I really wish that I didn't do these things.

And I mean, yes, you've got to provide for your kids, like let's work out your budget and what that looks like and how that could work.

But I also just think.

That there are a lot more markers of success that the research basically says that if you read to your kids every single day, they will have a higher IQ than anybody.

Who went through a private school.

I'd believe that if you give your kids, like one of the markers of success of a happy child is a happy mum.

Like, I do so much research into this space and I just look at it and go cool.

So you're saying that if I give Harvey a happy mum, he is more likely to be happy.

If I give Harvey a calm mom, he's more likely to thrive.

Fantastic, Like, how do we achieve that for you?

Is it engaging you in something that you're really passionate about?

Because like I feel like the answer might be yes, whatever and else, Oh my god.

We all had opinions.

So we asked the community jes We said, would you take on more study and debt to chase your passion and a better lifestyle?

Fifty two percent of you said only with a solid planned to make a work, forty percent said one hundred percent life is too short, and eight percent said no, wouldn't deal.

We then asked what matters more to you in a career long term?

Fifty eight percent of you said flexibility and lifestyle, twenty nine percent doing something you love, and thirteen percent said earning potential.

Now, as always, we said to the community, and I've got a few that I'm going to read out.

We said to them, what are your two cents?

And we not only got your two cents, we had a lot of conversations in your DMS.

And now this is going to sound very negative, and I promise.

I'm just sharing anecdotally what has happened in our DMS over the last week, and that is a lot of messages from a lot of teachers, and I would say that eighty percent of them are saying don't get into teaching.

People would say things like it took my passion.

They would say it's not what I expected.

They would say, you're under like exactly what your friends are saying, undervalued, underappreciated, underfunded.

A lot of teachers were saying that, you know, especially in the public system, they are having to use their personal money to buy things like pens and texters and drawing utensils and things that haven't been provided for them in the classroom that due to their curriculum they still need.

And I just that really broke my heart because I was like, what do you mean?

This is because I'm.

Obviously not a teacher and only have a handful of people that I know are teachers, and it's not that often.

That I go, so, tell me, what are the negatives of your career?

Yeah?

Why would I ask that at dinner?

You know?

So I think that was really eye opening to me, But I don't think to you just who you've probably heard it a lot.

I've heard it a lot.

Yeah, so the two cents from the community.

First person said, not forty grand.

It's Commonwealth supported and there are lots of grants.

You need to do a lot of research because more teachers are needed.

Next person said, also, the reason teaching is a dream career have nothing to do with the actual job.

Yeah.

Next person said, discounted school fees aren't a guarantee, and they're only for very specific private schools.

Yeah, so maybe check the place you want to.

I didn't even know that that was a thing, But that's a money when If that's the case, someone said, your kids will remember the wholesome moments, not the money made moments.

That's very true.

Next person said, speak to some teachers before you jump ship.

The reality is not is good as the ideal.

Someone else said, I'm a teacher, and you do earn decent money in leadership within schools, and I mean you still get the holidays off, so win win.

Another person said teaching has changed a lot in the past five to ten years.

Maybe evolunteer.

You're in a glassroom.

First, Yeah, this feels so negative.

And if you're a teacher who loves their job.

I hear you as.

Well, but I think it's so important to just boots and all share what we are seeing.

Yeah, this is not our opinion.

It's more just sharing the communities.

Next person said, and I'm going to leave it at this.

Actually, last person said, currently doing this right now, just started this term.

It's been ten years in the making.

I'm loving it.

Just congratulations.

I think I did plat too.

Absolutely positives, there's negative incredible career.

I'm sorry if that confused you further, Hey, good luck, let us know what you decided.

Yeah, anyway, Unfortunately, that is all we have time for today.

So guys, we will see you bright and early on Monday morning for our money.

Darry hie By.

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