Hello and welcome to It all adds up. The podcast where we chat about money, how to get it, how to spend it, and how to invest it. I'm senior economics writer at the Sydney Morning Herald and The Age newspaper's Jess Irvine, and.

Hello and welcome to It all adds up. The podcast where we chat about money, how to get it, how to spend it, and how to invest it. I'm senior economics writer at the Sydney Morning Herald and The Age newspaper's Jess Irvine, and.

I'm money editor Dom Powell. And this week is the grand finale of our special series focusing on real life budgets, money questions, and how you're tackling the rising cost of living.

I'm money editor Dom Powell. And this week is the grand finale of our special series focusing on real life budgets, money questions, and how you're tackling the rising cost of living.

Yes, In this week's question comes from listener Sarah, who sent us in her budget and then she, in the interim, listen to the other budget episodes that we've done and went away and actually saved herself a couple of thousand dollars following some of the tips and tricks that we mentioned. Dom So yay! Us Yeah.

Yes, In this week's question comes from listener Sarah, who sent us in her budget and then she, in the interim, listen to the other budget episodes that we've done and went away and actually saved herself a couple of thousand dollars following some of the tips and tricks that we mentioned. Dom So yay! Us Yeah.

Well, who who knew? Who knew that we're actually giving good advice on this podcast?

Well, who who knew? Who knew that we're actually giving good advice on this podcast?

We knew deep down inside, but it's nice to have that external validation. Anyway, we have a voice memo from Sarah, so let's have a listen.

We knew deep down inside, but it's nice to have that external validation. Anyway, we have a voice memo from Sarah, so let's have a listen.

Hello, Jess and Dom. My name is Sarah, and I'm a paramedic and a 50 year old soul parent to two beautiful girls, 28 years old and 16 years old. Thank you so much for scrutinizing my budget. I've been looking at various ways that I can make some savings. And recently I've managed to make some changes with my health insurance by reducing it down to just hospital only and no extras and having a bigger excess and reduce that cost from $274 a fortnight down to 150, which was amazing. I'm looking at other ways that I can save because my overarching goal is in 15 years time, I plan to purchase my home outright at retirement and still have a great retirement savings plan as well. So any ideas on how I can save some costs and increase my surplus would be most amazing. Thank you so much.

Hello, Jess and Dom. My name is Sarah, and I'm a paramedic and a 50 year old soul parent to two beautiful girls, 28 years old and 16 years old. Thank you so much for scrutinizing my budget. I've been looking at various ways that I can make some savings. And recently I've managed to make some changes with my health insurance by reducing it down to just hospital only and no extras and having a bigger excess and reduce that cost from $274 a fortnight down to 150, which was amazing. I'm looking at other ways that I can save because my overarching goal is in 15 years time, I plan to purchase my home outright at retirement and still have a great retirement savings plan as well. So any ideas on how I can save some costs and increase my surplus would be most amazing. Thank you so much.

Well, thanks for sending that in, Sarah. Love to hear that you've been listening to the podcast and, you know, implementing some of the some of the things that we've been talking about. I think there's a few things to look at when we look at Sarah's budgets and the things that she's she's changed. So if we look at the first budget that Sarah sent us a few weeks ago, she was saying that her annual cash surplus was around about 4000. And in the MOStrillionECENT one that she's sent us just this week, she's increased that cash surplus to around 7000, which is great. That's 3000 bucks extra in the pocket.

Well, thanks for sending that in, Sarah. Love to hear that you've been listening to the podcast and, you know, implementing some of the some of the things that we've been talking about. I think there's a few things to look at when we look at Sarah's budgets and the things that she's she's changed. So if we look at the first budget that Sarah sent us a few weeks ago, she was saying that her annual cash surplus was around about 4000. And in the MOStrillionECENT one that she's sent us just this week, she's increased that cash surplus to around 7000, which is great. That's 3000 bucks extra in the pocket.

And that's per year. It's not every month or something, but but that's how much she's perhaps can save annually. But that's fantastic because, you know, 4000 might be a bit slim. We're getting towards something that's a bit more of a decent sort of cash surplus being generated each year, which isn't that great.

And that's per year. It's not every month or something, but but that's how much she's perhaps can save annually. But that's fantastic because, you know, 4000 might be a bit slim. We're getting towards something that's a bit more of a decent sort of cash surplus being generated each year, which isn't that great.

Yeah, absolutely. And I mean, there's a few reasons when, you know, when when you look at Sarah's budget that she's increased this cash surplus. One of the most notable things that I saw was that she's increased the amount of money that she's gotten from her side hustle, which I believe is, I assume, teaching Pilates. It just says Pilates. I can't imagine you can get paid for doing Pilates, but if you can, someone let me know, please. But I'm assuming that Sarah does do Pilates instructing as a side hustle and she's increased the amount of money that she's gotten from that quite significantly. So this is great. And also a real testament to the strength of having a good strong side hustle.

Yeah, absolutely. And I mean, there's a few reasons when, you know, when when you look at Sarah's budget that she's increased this cash surplus. One of the most notable things that I saw was that she's increased the amount of money that she's gotten from her side hustle, which I believe is, I assume, teaching Pilates. It just says Pilates. I can't imagine you can get paid for doing Pilates, but if you can, someone let me know, please. But I'm assuming that Sarah does do Pilates instructing as a side hustle and she's increased the amount of money that she's gotten from that quite significantly. So this is great. And also a real testament to the strength of having a good strong side hustle.

That's a fantastic, solid side hustle. And I did read that it's the number of Australians who are actually sort of have two jobs at the moment is increasing because you know, you are looking for that extra source of income on the saving side as well. So she mentioned that she saved on her electricity and the health insurance as well, noting that if you increase your excess, you have to pay more in the event that she will have to make a claim. So just being careful of that and dropping the extras because you don't need the extras to avoid the Medicare levy surcharge, if you're over that 90,000 single income threshold where you have to pay that tax slug, if you don't have the hospital cover, you only do only need the hospital cover. But sort of doing an analysis for yourself as to whether the benefits you get from having health insurance extras you actually receive back more than you pay in premiums is a really good exercise for people to do. And it sounds like Sarah's gone away and done that analysis and figured out that, yeah, she can reduce the premium by, you know, $100 or whatever it was. That's that's fantastic.

That's a fantastic, solid side hustle. And I did read that it's the number of Australians who are actually sort of have two jobs at the moment is increasing because you know, you are looking for that extra source of income on the saving side as well. So she mentioned that she saved on her electricity and the health insurance as well, noting that if you increase your excess, you have to pay more in the event that she will have to make a claim. So just being careful of that and dropping the extras because you don't need the extras to avoid the Medicare levy surcharge, if you're over that 90,000 single income threshold where you have to pay that tax slug, if you don't have the hospital cover, you only do only need the hospital cover. But sort of doing an analysis for yourself as to whether the benefits you get from having health insurance extras you actually receive back more than you pay in premiums is a really good exercise for people to do. And it sounds like Sarah's gone away and done that analysis and figured out that, yeah, she can reduce the premium by, you know, $100 or whatever it was. That's that's fantastic.

Yeah. And it looks like she's also cut down on her expenditure, not by a huge amount, just by, I think it was maybe 20 or 30 bucks a fortnight or something like that on just doctors and specialists. So clearly Sarah sat down and had a look at the money that she's spending on, you know, health and health insurance and sort of just really worked out all the areas that she can she can cut back on, which is great, getting rid of any of those sort of non-essential sort of specialist visits or doctor visits is always a good way to save a bit of cash.

Yeah. And it looks like she's also cut down on her expenditure, not by a huge amount, just by, I think it was maybe 20 or 30 bucks a fortnight or something like that on just doctors and specialists. So clearly Sarah sat down and had a look at the money that she's spending on, you know, health and health insurance and sort of just really worked out all the areas that she can she can cut back on, which is great, getting rid of any of those sort of non-essential sort of specialist visits or doctor visits is always a good way to save a bit of cash.

And I noticed she's also cancelled her audible subscription for the for a little while. And that obviously saves money. But the great thing about that, I don't know if you've ever done this done but I mean I have had audible and then you cancel it and then you get bombarded with come back, it'll be free. We won't charge you for a whole month or two. Like you get the free offers so you can resubscribe anytime you want.

And I noticed she's also cancelled her audible subscription for the for a little while. And that obviously saves money. But the great thing about that, I don't know if you've ever done this done but I mean I have had audible and then you cancel it and then you get bombarded with come back, it'll be free. We won't charge you for a whole month or two. Like you get the free offers so you can resubscribe anytime you want.

Audible is one of those things that I think is almost always sending me deals like I've never done. I think I've ever been sent so many offers by a company other than Audible like in my life. Like it's, it's ridiculous. And I don't even listen to audiobooks. I think I listen to one audiobook maybe once in 2018. So, you know, there's a life hack through everyone, get rid of your audible and then you can, you know, just get free offers for the rest of your life.

Audible is one of those things that I think is almost always sending me deals like I've never done. I think I've ever been sent so many offers by a company other than Audible like in my life. Like it's, it's ridiculous. And I don't even listen to audiobooks. I think I listen to one audiobook maybe once in 2018. So, you know, there's a life hack through everyone, get rid of your audible and then you can, you know, just get free offers for the rest of your life.

John What did you think in general? I mean, I mean, I would now claim this is a testament to having a budget and seeing how realistic it is and tracking your spending and, you know, finding those little savings, because we saw that Sarah was doing sort of more a bucket style approach, which is traditionally what you've been doing. How do you how do you feel about that?

John What did you think in general? I mean, I mean, I would now claim this is a testament to having a budget and seeing how realistic it is and tracking your spending and, you know, finding those little savings, because we saw that Sarah was doing sort of more a bucket style approach, which is traditionally what you've been doing. How do you how do you feel about that?

Well, I think this is. If you, you know, listen back to the first episode of this series that we did, you know, six weeks ago now, where I sort of admitted my terrible budgeting strategies. This all sort of hits quite close to home, to be honest, because Sarah pretty much said, I did this, these sort of strategies. I did this sort of, you know, bucket based approach, and all I kept doing was just dipping into the buckets, you know, I kept going and taking a little bit out of this fund, a little bit out of this fund when I needed it. And that's exactly what I do, you know? So this is this is this is I suppose you're right, a testament to having a real budget, meticulously tracking every single thing you spend money on rather than just sort of grouping it into generalized categories. Yeah.

Well, I think this is. If you, you know, listen back to the first episode of this series that we did, you know, six weeks ago now, where I sort of admitted my terrible budgeting strategies. This all sort of hits quite close to home, to be honest, because Sarah pretty much said, I did this, these sort of strategies. I did this sort of, you know, bucket based approach, and all I kept doing was just dipping into the buckets, you know, I kept going and taking a little bit out of this fund, a little bit out of this fund when I needed it. And that's exactly what I do, you know? So this is this is this is I suppose you're right, a testament to having a real budget, meticulously tracking every single thing you spend money on rather than just sort of grouping it into generalized categories. Yeah.

And like, look, you don't have to do it forever, you know, you don't have to be doing this every single month, although you can if you're me, but just, you know, doing it once, having the really good, fine tooth comb through the budget, questioning everything as to whether it does align with your enjoyment of the the dollars that are going out and having a look for sort of those little savings because it all adds up.

And like, look, you don't have to do it forever, you know, you don't have to be doing this every single month, although you can if you're me, but just, you know, doing it once, having the really good, fine tooth comb through the budget, questioning everything as to whether it does align with your enjoyment of the the dollars that are going out and having a look for sort of those little savings because it all adds up.

As all add up. I think the buckets method can be very attractive for a lot of people because it seems very low effort. And I think that if you have a really simple life, right, like if you've if you don't spend money on sort of strange things, you know, you've got very limited, you know, expenditure, you've got very basic expenses, all that sort of stuff, then the buckets method works well because then, you know, you don't have to really think too much about it. But when you're buying a little thing here or are you spending a little bit money on a holiday here and all that sort of stuff, then you really do need to have that oversight, I think, which is where obviously we've seen this with Sarah's budget here, that now once she starts tracking it all, she can really see where all that money's going and then start to make those savings.

As all add up. I think the buckets method can be very attractive for a lot of people because it seems very low effort. And I think that if you have a really simple life, right, like if you've if you don't spend money on sort of strange things, you know, you've got very limited, you know, expenditure, you've got very basic expenses, all that sort of stuff, then the buckets method works well because then, you know, you don't have to really think too much about it. But when you're buying a little thing here or are you spending a little bit money on a holiday here and all that sort of stuff, then you really do need to have that oversight, I think, which is where obviously we've seen this with Sarah's budget here, that now once she starts tracking it all, she can really see where all that money's going and then start to make those savings.

Yeah, And it's not about sort of living on a barebones budget for the rest of your life and cutting your own hair as some of us in the room have done. It's me. But even though I've been on that arc of, you know, sometimes it's fun to see how much you can save, but you can't live like that forever. And making sure that you're making room for enjoyment in your budget is so important. Although things are a bit tight at the moment for a lot of people. So having the good look but you know, making sure that you do have some some fun in the budget as well. But looking at.

Yeah, And it's not about sort of living on a barebones budget for the rest of your life and cutting your own hair as some of us in the room have done. It's me. But even though I've been on that arc of, you know, sometimes it's fun to see how much you can save, but you can't live like that forever. And making sure that you're making room for enjoyment in your budget is so important. Although things are a bit tight at the moment for a lot of people. So having the good look but you know, making sure that you do have some some fun in the budget as well. But looking at.

The rest of Sarah's budget, there are some areas where, you know, you can see that there will be some cost savings in the future. As she mentioned, she has a 16 year old daughter at the moment. She shows on her budget that her school costs are around $10,000 a year. Obviously, that will stop eventually, and that's $10,000 that you could do anything with. You could invest it, you could put it into your super.

The rest of Sarah's budget, there are some areas where, you know, you can see that there will be some cost savings in the future. As she mentioned, she has a 16 year old daughter at the moment. She shows on her budget that her school costs are around $10,000 a year. Obviously, that will stop eventually, and that's $10,000 that you could do anything with. You could invest it, you could put it into your super.

So it might be fun for Sarah to do a different version of her spreadsheet where you do actually go through and cut out some of those kid costs. Because I've done that and I'll be living a life of Riley. I'll be fine. Yeah, kids are expensive. So I think, yeah, particularly planning for retirement, that's that's something that's going to come, come out. I do also see that there is quite a high spending on holidays which, you know, in her email Sarah said she wants to live now as well. You know not just to be saving only for future her but also have a good life with the holiday front. But that is something that can be wound back, I guess, if things get much tighter. She's also spending $1,500 on hairdressing. But, you know, aforementioned tips.

So it might be fun for Sarah to do a different version of her spreadsheet where you do actually go through and cut out some of those kid costs. Because I've done that and I'll be living a life of Riley. I'll be fine. Yeah, kids are expensive. So I think, yeah, particularly planning for retirement, that's that's something that's going to come, come out. I do also see that there is quite a high spending on holidays which, you know, in her email Sarah said she wants to live now as well. You know not just to be saving only for future her but also have a good life with the holiday front. But that is something that can be wound back, I guess, if things get much tighter. She's also spending $1,500 on hairdressing. But, you know, aforementioned tips.

You got to suggest that Sarah cuts her own hair.

You got to suggest that Sarah cuts her own hair.

You know what? I don't think I am going to because I have done it. It's really stressful. So I am building hairdressing back into my to my budget. But I do also get a bit shirty because I feel like women have to spend more on haircuts. So yeah, I mean, elsewhere we've got about $700 a year for clothes, which seems pretty reasonable, $600 a year set aside for gifts, which I'm, I find I spend a bit more than that, actually, you know, some streaming services. You can't cut out everything. We need to to live. And what's really nice to see is Sarah also puts aside, you know, over $500 a year for charity donations. So that's another benefit of, you know, looking at your money and having a plan for it. You can set aside some some feel good spending money and that's certainly appreciated.

You know what? I don't think I am going to because I have done it. It's really stressful. So I am building hairdressing back into my to my budget. But I do also get a bit shirty because I feel like women have to spend more on haircuts. So yeah, I mean, elsewhere we've got about $700 a year for clothes, which seems pretty reasonable, $600 a year set aside for gifts, which I'm, I find I spend a bit more than that, actually, you know, some streaming services. You can't cut out everything. We need to to live. And what's really nice to see is Sarah also puts aside, you know, over $500 a year for charity donations. So that's another benefit of, you know, looking at your money and having a plan for it. You can set aside some some feel good spending money and that's certainly appreciated.

Some feel good tax deductible spending money.

Some feel good tax deductible spending money.

Well, that is true. Do not forget to claim that on tax, Sarah, at the end of the financial year.

Well, that is true. Do not forget to claim that on tax, Sarah, at the end of the financial year.

We'll be back in just a moment. Now I feel like we should get into one of Sarah's major questions, which was her plan to purchase a home, I believe, in about 15 years once she's retired and presumably using her superannuation, which she will have access to purchase her house now. Obviously there's lots of ways that this could go and the ways and ways that you could do this. But Jess, what do you think about that as a sort of a plan?

We'll be back in just a moment. Now I feel like we should get into one of Sarah's major questions, which was her plan to purchase a home, I believe, in about 15 years once she's retired and presumably using her superannuation, which she will have access to purchase her house now. Obviously there's lots of ways that this could go and the ways and ways that you could do this. But Jess, what do you think about that as a sort of a plan?

Yeah. Well, I've always wondered with my mortgage if it will, it is so big that if I will be at a point where I may be able to use some of my super when I access it, you have to make various conditions of release, but they can kick in from the age of 60. Whether I might use some of my super money as a lump sum to pay off my mortgage. And we're seeing that many people are keeping their mortgages into retirement and doing just that. So I guess Sarah's doing another version of that where, you know, she's putting all the money into super and she's got a nice healthy nest egg there. And she's working in a sector where she gets a pretty generous rate of contribution from her employer and she is topping that up as well with extra contributions. So maybe it grows in whatever the assets are there, not in property because she hasn't bought the property yet, but it grows and there's great tax deductions. And then if you can pull it all out at the age that of 65 seems to be what's in her plan and then purchase the property. You know, you're making a you're making an asset allocation decision there. And my main thing and I would feel bad if I didn't sort of at least put this in the mind is things change in super. And I have always wondered if one of the things that might change would be if they put conditions around whether you can access the money as a lump sum. There is no suggestion at the moment about that, but there is talk about shifting people towards sort of pension based super payouts so that, you know, you're sort of you're withdrawing a certain percentage of your balance each year rather than taking it all out. And some people are not as responsible as Sarah and buying a home, but, you know, go to some great holidays and then living on the age pension. And so I think that's just something to keep in mind. And we can't give financial advice about that sort of thing. But, you know, just being just keeping an eye on that, I guess if the plan is to use the super to buy the house.

Yeah. Well, I've always wondered with my mortgage if it will, it is so big that if I will be at a point where I may be able to use some of my super when I access it, you have to make various conditions of release, but they can kick in from the age of 60. Whether I might use some of my super money as a lump sum to pay off my mortgage. And we're seeing that many people are keeping their mortgages into retirement and doing just that. So I guess Sarah's doing another version of that where, you know, she's putting all the money into super and she's got a nice healthy nest egg there. And she's working in a sector where she gets a pretty generous rate of contribution from her employer and she is topping that up as well with extra contributions. So maybe it grows in whatever the assets are there, not in property because she hasn't bought the property yet, but it grows and there's great tax deductions. And then if you can pull it all out at the age that of 65 seems to be what's in her plan and then purchase the property. You know, you're making a you're making an asset allocation decision there. And my main thing and I would feel bad if I didn't sort of at least put this in the mind is things change in super. And I have always wondered if one of the things that might change would be if they put conditions around whether you can access the money as a lump sum. There is no suggestion at the moment about that, but there is talk about shifting people towards sort of pension based super payouts so that, you know, you're sort of you're withdrawing a certain percentage of your balance each year rather than taking it all out. And some people are not as responsible as Sarah and buying a home, but, you know, go to some great holidays and then living on the age pension. And so I think that's just something to keep in mind. And we can't give financial advice about that sort of thing. But, you know, just being just keeping an eye on that, I guess if the plan is to use the super to buy the house.

Yeah. And I think that if we've been shown anything from the recent debate over super in the past few weeks, is that any sort of changes to these these systems will be telegraphed well ahead of time. You know, there will be you know, you'll you'll have a good few years to sort of work it out. So like let's just say, you know, that does something like that does happen. You'll have a long time to be able to sort of plan for it and potentially work around it and do something else. Something else I would also mention with sort of Sarah's plan here is that I think, you know, it's got a lot of merit, but there is the sort of the downside that she will be paying rent for the next 15 years, which just obviously, you know, never feels great in terms of an investment. You know, people sort of say that rent is like dead money in a sense, which is not something I necessarily agree with. But, you know, there is a bit of a downside to to not putting that into a mortgage.

Yeah. And I think that if we've been shown anything from the recent debate over super in the past few weeks, is that any sort of changes to these these systems will be telegraphed well ahead of time. You know, there will be you know, you'll you'll have a good few years to sort of work it out. So like let's just say, you know, that does something like that does happen. You'll have a long time to be able to sort of plan for it and potentially work around it and do something else. Something else I would also mention with sort of Sarah's plan here is that I think, you know, it's got a lot of merit, but there is the sort of the downside that she will be paying rent for the next 15 years, which just obviously, you know, never feels great in terms of an investment. You know, people sort of say that rent is like dead money in a sense, which is not something I necessarily agree with. But, you know, there is a bit of a downside to to not putting that into a mortgage.

Yep. There's the rent is the dead money. And then if you do get the mortgage, then the interest that you pay to the bank is the dead money. So that's maybe a trade off that she's thought about and we don't know. But it could be a situation where, you know, you're living, you're renting somewhere that you want for your lifestyle now and that maybe she can, you know, when she does buy, maybe she'll be living a bit further out or in something that's smaller than she's got now because, you know, you've got the kids now. But in the future you might be able to buy a smaller property. You know, maybe that's something that she's she's thinking about. So, yeah, I guess all of this is sort of highly, highly personal to your own circumstances. But Sarah, thank you so much for sending in your budgets. I've loved seeing the evolution and I'm glad to hear that we have helped a little bit. That's a it's a lovely note to to leave things on really with this series that we've done. Dom That's that's what I hoped would happen.

Yep. There's the rent is the dead money. And then if you do get the mortgage, then the interest that you pay to the bank is the dead money. So that's maybe a trade off that she's thought about and we don't know. But it could be a situation where, you know, you're living, you're renting somewhere that you want for your lifestyle now and that maybe she can, you know, when she does buy, maybe she'll be living a bit further out or in something that's smaller than she's got now because, you know, you've got the kids now. But in the future you might be able to buy a smaller property. You know, maybe that's something that she's she's thinking about. So, yeah, I guess all of this is sort of highly, highly personal to your own circumstances. But Sarah, thank you so much for sending in your budgets. I've loved seeing the evolution and I'm glad to hear that we have helped a little bit. That's a it's a lovely note to to leave things on really with this series that we've done. Dom That's that's what I hoped would happen.

Absolutely. You know it's it's it's real It's a real world impact. Yes. So thanks to everyone for tuning in over the last six weeks listening to us dissect some real life budgets. I hope you did take something away from it. I hope you got something worthwhile, something you can take home and apply it to your financials. It's been really enjoyable to do and it's been so much fun to hear from everyone sending in their questions and their spreadsheets.

Absolutely. You know it's it's it's real It's a real world impact. Yes. So thanks to everyone for tuning in over the last six weeks listening to us dissect some real life budgets. I hope you did take something away from it. I hope you got something worthwhile, something you can take home and apply it to your financials. It's been really enjoyable to do and it's been so much fun to hear from everyone sending in their questions and their spreadsheets.

And I think, you know, the more we can be transparent and talk about our money, the better off that situation that puts everyone in. And if you're bereft of someone to send your budget to, you can share it with a friend. Like I think having this conversation with friends and family can be just as much fun too. But I've certainly enjoyed having a squiz at everyone's numbers And yeah, thanks so much for listening.

And I think, you know, the more we can be transparent and talk about our money, the better off that situation that puts everyone in. And if you're bereft of someone to send your budget to, you can share it with a friend. Like I think having this conversation with friends and family can be just as much fun too. But I've certainly enjoyed having a squiz at everyone's numbers And yeah, thanks so much for listening.

We'll be back with our next series shortly. But until then, be well and keep on saving those dollars.

We'll be back with our next series shortly. But until then, be well and keep on saving those dollars.

Because it all adds up though.

Because it all adds up though.

It does all that up. Just.

It does all that up. Just.

This episode of It All Adds Up was produced by Chai Wong. The information discussed is general in nature and does not take into account your personal financial situation, goals or objectives. You should always do your own research or get professional advice before making any major financial decisions. If you like today's episode hit follow in your podcast app, leave a review and recommend it to all your friends. You can submit your listener questions in text or audio format at it all adds up at Nine.com.au you.

This episode of It All Adds Up was produced by Chai Wong. The information discussed is general in nature and does not take into account your personal financial situation, goals or objectives. You should always do your own research or get professional advice before making any major financial decisions. If you like today's episode hit follow in your podcast app, leave a review and recommend it to all your friends. You can submit your listener questions in text or audio format at it all adds up at Nine.com.au you.