Friends With Money

The hidden costs that could sink your budget!
Question:
What are the real, often overlooked costs of owning a home in Australia and how can buyers avoid nasty surprises?
Short answer:
Owning a home is much more expensive than just paying the purchase price. According to Georgia Madden, new homeowners face steep mortgage interest, rising insurance premiums, energy bills, maintenance, council rates, and if buying an apartment, strata fees and surprise levies. Many underestimate costs like rebuilding insurance, ongoing repairs, and the impact of rate rises. Smart strategies include reviewing insurance annually, fixing small problems early, and checking apartment sinking funds before buying.
Why it matters:
For first-time buyers and anyone budgeting for a home, missing these hidden costs can lead to financial stress. Understanding the full picture means you can plan, save, and protect your investment rather than being caught out by “budget sinkholes.”
Sources:
• Vanessa Walker, Managing Editor, Money Magazine
• Georgia Madden, Home & Property Journalist
• Mortgage brokers, insurance experts, property managers
• Money magazine, June issue

Timestamps:
01:31 Mortgage breakdown: interest vs equity
02:46 Insurance: costs and common mistakes
03:59 Energy bills & efficiency tips
04:55 Solar: upfront costs and payback
05:45 Maintenance: how much to set aside
06:51 Hidden repair costs: plumbing, wiring, roofing
07:51 Council rates & water charges
08:37 Strata fees & apartment levies
09:47 Cautionary tales & advice for buyers
10:16 Wrap-up & where to find more info

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Email Us: podcast@moneymag.com.au

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How to dodge bust-ups and actually talk cash with your partner

Question:
How can Australians have honest, productive conversations about money with partners or family without awkwardness, arguments, or avoidance?

Short answer:
Money conversations are often dodged due to fear of conflict, judgment, or not feeling confident. But avoiding them can make financial stress worse. According to Meray El-Khoury (MetLife Australia), the key is to start small: use gentle, time-bound openers (“Can we spend 15 minutes talking about money?”), focus on “we” not “you”, and break topics into manageable chunks - cashflow, debt, protection, retirement. Regular, calm check-ins help families plan for life’s curveballs and build financial resilience together.

Why it matters:
If you don’t talk about money, you risk missing warning signs, being unprepared for emergencies, and leaving one partner vulnerable. Open, positive conversations help families set goals, avoid nasty surprises, and take control of their financial future, instead of letting circumstances dictate outcomes.

Sources:
• Michelle Baltazar, editor-in-chief, Money Magazine
• Meray El-Khoury, chief insurance officer, MetLife Australia
• Money magazine podcast: Friends With Money, July 2026 episode

Timestamps:
00:02:04 Why we avoid money talks: fear, judgment, lack of confidence
00:04:50 How to start: gentle openers, time-bound, “we” language
00:06:45 Order of topics: cashflow, debt, protection, retirement
00:08:01 Protection: insurance, planning for the unexpected
00:13:34 Retirement: conversation starters and positive framing
00:12:02 Regular check-ins: monthly, calm, non-confrontational
00:15:22 Inclusivity: making sure both partners are involved
00:17:05 Incremental progress: clarity comes from talking

Podcast Links:
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Listen on Spotify
Money Website
YouTube Podcast Playlist
Email Us: podcast@moneymag.com.au

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More than four million Australian homes have gone solar, but for many others, the benefits have remained out of reach. The Solar Sharer Offer could change that.
On this episode of the Friends With Money podcast, Money’s Tom Watson is joined by Brian Spak, general manager of advocacy and policy at Energy Consumers Australia, to unpack the new Solar Sharer Offer and who will benefit from free electricity.

00:00 Introduction
01:29 How the Solar Sharer Offer works
03:54 Which households are eligible for Solar Sharer?
06:07 How to make the most of free midday electricity
07:56 How to sign up for Solar Sharer
08:43 What kind of savings can households expect?
10:17 Why caution and bill monitoring could pay off
11:52 Conclusion

#friendswithmoney #tomwatson #brianspak #energy #solarsharer

Podcast Links:
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Listen on Spotify
Money Website
YouTube Podcast Playlist
Email Us: podcast@moneymag.com.au

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The end of the financial year may be just around the corner, but it’s not too late to make some superannuation moves that could benefit your balance.
On this episode of the Friends With Money podcast, Money’s Tom Watson is joined by Greg Elias, senior private client adviser at UniSuper, to discuss the steps you can take before June 30 and the upcoming super changes worth knowing about.

01:44 Making a concessional contribution
05:35 Contribution caps explained
06:18 The benefits of salary sacrificing
09:00 Division 296: who it affects and what to know
12:01 What are the payday super changes?
15:03 Market volatility and superannuation
18:40 Common EOFY mistakes
20:38 Conclusion
#friendswithmoney #tomwatson #gregelias #superannuation #eofy

Podcast Links:
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Listen on Spotify
Money Website
YouTube Podcast Playlist
Email Us: podcast@moneymag.com.au

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REITs explained - A property expert explains the next investment hotspots
This week on the Friends With Money podcast, Money's editor-in -chief Michelle Baltazar speaks with Justin Blaess, principal and portfolio manager at REIT specialist Quay Global Investors, to explain real estate investment trusts (REITs) and how investors can earn investment income through them.
They discuss REITs as listed businesses that owns buildings and collect rent, how the sector has evolved since the late 1990s and the GFC, and new opportunities beyond traditional retail, office, and industrial.

01:05 What Is a REIT?
01:48 How REIT investing evolved
03:29 Investment hotspots: data centres, storage and senior living
05:59 Expected returns basics
09:34 Interest rates myth
12:43 How to start investing

Podcast Links:
Listen on Apple Podcasts
Listen on Spotify
Money Website
YouTube Podcast Playlist
Email Us: podcast@moneymag.com.au

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