My Sister is Scamming My Dad

Hi Scott,

My dad has gone guarantor on a loan for my sister and her partner, so she could buy a property worth over $1 million. I know she has at least two other properties that dad probably does not know about; all of which she could have sold to overcome her "financial woes". She has been conning the family out of money for years. It is highly likely dad will not outlast the life of the loan. My question is: can the bank hold up the process of settling the estate because of the guarantor thing? Dad's plan was to evenly split his estate between all his children and give some to charity but there won't be anything left if my sister has her way!

Megan

Hi Megan,

To answer your question correctly, I’d need to read both the bank guarantee that your father signed, and his will. Yet that’s a job for a specialist estate planning lawyer, who can take into account all of these issues and plan your father’s wishes accordingly. The only problem is, a lot of men don’t like thinking about their wills (some believe it’s tempting fate).

So you need to give your old man a bit of motivation. If I were in your shoes, I’d give him the heads up: as it currently stands the reading of his will may resemble a scene from the Game Of Thrones. Gently explain to him that it will be much better if he sets everyone straight now once and for all … no matter what he decides to do with his money.

Scott

Death, Taxes … and HECS

Hey Scott,

In your book you mentioned that HECS debt dies with you. My wife passed away in 2011 -- and the $15,000 she owed rocked up bang on settlement of her estate. So I paid it, on advice from my lawyer. Is there any way to get this back if I paid it unnecessarily?

Harry

Hi Harry,

The executor of your wife’s estate was legally required to lodge a tax return up to the date of her death, which would have included the compulsory HECS-HELP debt repayments up to that date. The balance of her HECS-HELP debt would then have officially been written off by a (weeping) ScoMo.

So if your lawyer instructed you to pay off the entire debt, you got the wrong advice. I’d be calling the lawyer up and explaining the situation, and asking them to lodge an objection with the Tax Office so you can have the funds returned. And I’d expect the lawyer to do it gratis.

Scott

I Ruined My Husband’s Life

Hi Scott,

My husband’s business has taken a massive hit, and I am entirely to blame.

He is a part-owner of a successful business for the past eight years. They have finally reached the stage where they are able to expand, and just a few weeks ago were approved for a significant loan.

Today, they received a call informing them the loan has been withdrawn: because years ago when they were setting up the company I was made a director, and I am bankrupt. (My husband and I have totally separate finances. I have nothing to do with the company, and own no shares. I am just a stay at home mum to three young kids).

When the business’s bank sent the paperwork to the seller’s bank, they were flagged my insolvency. The loan was immediately withdrawn. Because of me. Now I have single-handedly destroyed the future (and present) of my husband’s business partners, and the business they have all worked so hard to build. I am at a complete loss as to what I can do, short of divorce.

Ingrid

Ingrid,

Dial down the drama!

You haven’t ruined the business. And you don’t need a divorce, though a competent accountant would be nice.

You can’t be a director of a company if you’re bankrupt (so you should have left before you went bankrupt). But you can fix this; just call your accountant and have them lodge with ASIC and get it cleaned up. Then have your husband explain the situation to the bank -- that you’re basically a patsy director who owns no shares. If the business’s financials stack up (and the directors can offer the appropriate guarantees), they’ll get the loot. If the financials don’t stack up, they won’t.

Now the thing for me that is drama-worthy is that you and your husband still split the bills like you’re flatmates. That’s going to strain your relationship, if it isn’t already (and it sounds like it is). You need to work as a team, split everything down the middle, and make joint decisions. Do it for your kids.

Scott

Reminder: I first wrote about this years ago and highlighted the low fees. Today there are better bank accounts on offer. How do I know? Because my readers constantly email me about them! So before you do anything, google the best accounts on offer now.

How Much Does it Cost to Have a Baby?

About four years ago, my wife entered our living room waving a pregnancy stick above her head like she was Mitchell Johnson triumphantly screaming HOWZAT! at the umpire. “We’re pregnant!” she cheered.

I was like a defiant Indian batsman disputing the inside edge. “Give me a look.”

We both stared at the plastic stick under the fluoro light in the kitchen. There wasn’t a second blue line.“Not out”, I boldly declared.

We ended up taking it to the third umpire -- our local GP -- who confirmed one of the great learning lessons of my life: my wife was right (she was pregnant). She’s always right. Even when she’s wrong, she’s right.

And if my life was a telemovie, the next scene would be a fast-moving montage (with Johnny Farnham’s ‘Playing to Win’ as the soundtrack), as we get married at our farm, have the baby (I almost pass out), the house burns down (I almost pass out), and we have another baby (thankfully, I’m now strong enough to cut the cord), and then the music fades down and we return to the present moment where I’m typing this to you ... as my three-year-old clean-bowls my one-year-old, and my wife yells at me like it’s my fault.

If you’re planning to start a family -- or even if you’re not -- the news that you are expecting a baby can knock you for six.

Here’s how to have a good opening partnership.

It costs $10,000 to have a baby? Howzat!?

In the year leading up to the pregnancy you should save up -- at the very least -- $10,000.

The average cost of having a baby in a private hospital is $8,500 per birth according to Medibank Private, and that doesn’t include obstetricians, nappies or ‘push presents’ that fathers are apparently supposed to buy to motivate their pregnant partners (like a bowling ball pressing down on them isn’t motivation enough).

Do you really need that much if you’re planning on delivering in a public hospital?

Yes, you do.

Sure, giving birth as a public patient in a public hospital is free -- but it’s what happens during the pregnancy that can really cost you. Think of all the visits to the doctor, the blood tests … and then there’s the ‘little emperor syndrome’. You see, most first-time parents go a little ga-ga when they are expecting.

I’m a classic case study of stupidity.

In the months leading up to my first son being born, I put more research into choosing a pram than I did into buying my first car (and I spent roughly the same amount). And when that state-of-the-art ‘all-terrain’ stroller was destroyed in our house fire ... I replaced it with a cheap and nasty $25 job from Kmart.

Think of having a baby as like starting a business. There are significant upfront costs that can be amortised over subsequent product releases, but these upfront costs are really going to hit you.

What you can do -- like any good business owner -- is to lower your costs by buying strollers, cribs and the like from Gumtree or eBay. Remember, it’s not child abuse for kids to wear hand-me-downs or, later, to share a room.

Still, that doesn’t alter the fact that you need a big chunk of change on hand for your first baby. You’re about to enter one of the most expensive periods of your life ... and you’ll be doing it on one wage -- with sleep deprivation and cracked nipples.

So for your sanity make sure you have at least $10,000 saved up.

Should We Go Private or Public?

We’ve done both, and I’d take public any day of the week. (That said -- I’m basing my opinion on the comfort of the chair I dozed off in, the cost of parking, and the fact that it was ... free). So I asked my wife and she agreed with me.

We’ve got one of the greatest public health systems in the world, and you’re already paying for it.

How Do I Know What I’m Entitled to?

New parents receive 18 weeks of paid parental leave, which works out to be $657 a week before tax, on top of whatever scheme their employer offers (and around half of all employers have some form of paid maternity leave).

Once your baby is born, you could be eligible for some Centrelink benefits, including the Family Tax Benefit, parenting payment, rent assistance or a health care card.To work out what you are entitled to go to Centrelink’s online ‘payment finder’. Then go to Moneysmart’s ‘parental leave calculator’ which will help you get a bird's eye view of your finances over the next 12 months.

My recommendation is that any parenting payments you receive should be in addition to the $10,000 you’ve saved up.

Should We Buy a House?

I get this question a lot from expecting first-time parents who currently rent. Some write to me in a state of panic at the thought of bringing their kid home to a rented home. But unless you have a 20 per cent deposit -- in addition to your $10,000 baby bounty -- I’d hold off buying a home for at least a few years.

Life is going to be very stressful without adding a move and a mortgage to the mix.

How Do I Ensure My Kid Gets a Good Start in Life?

By looking after yourself.

The first 12 months of being a parent are stressful. You have no idea what you’re doing. There’s very little sleep (at least in the beginning). You basically surrender yourself and serve the baby. And so the best gift you can give yourself in that first year is not having to fight or worry about money. And we’re planning on long innings with plenty of bouncers being thrown your way.

Howzat?

Tread Your Own Path!

Do this for your Dad

Saturday at our house is father-and-son day.

Usually that means running around chasing chooks, manhandling the sheepdog, and getting as dirty as possible. However, when our house burned down (a couple of years ago) we found ourselves holed up temporarily in the city -- so I was forced to improvise.

Each Saturday morning, Louie and I would head off on a ‘great adventure’ around the concrete jungle.

Our first stop was Myer. We were nearly always the first people in the store. The shop assistants would be still applying their makeup, drinking takeaway coffee, and bitching about Myer’s share price.

As we approached the toy department I’d have my weekly Willy Wonka moment. Crouching down on one knee, I’d look little Louie straight in the eye and say:

‘See all these toys, tiger? Well, you can play with whatever you want … just put them back afterwards.’

‘Anything?’ he’d say, eyes bulging.

‘Anything!’

If you’ve ever experienced the toy section of a department store, you’ll know that toddlers are worse than teenagers: they completely wreck the joint.

Yet, for Louie, after an hour or so the excitement of playing with millions of dollars of the latest toys would wear off. He’d stumble back to me, exhausted, and announce, ‘Daddy … Louie go home now’.

Total cost of an hour’s worth of playtime with the best toys on the planet? Zero.

Priceless! And you know how the rest of the ad goes: ‘There are some things money can’t buy ... for everything else there’s MasterCard.’

And there’s the rub: practically everyone else in that multi-level department store was using their MasterCard to buy stuff that would eventually end up in their recycling bin.

Marketers have long understood that we spend on our emotions: on how something makes us feel and also on how we think it will make other people feel about us.

‘I’m a hipster … like David Beckham.’

‘I’m a middle-aged, professional white guy, so I wear chinos and polo tops that have little red horseys monogrammed on the breast … just like every other DIK (Dad I Know).’

‘I’m like Kim Kardashian … or at least I smell like her. I bought her Eau de Parfum, ‘True Reflection’, which is said to have the aroma of a sleazy sex tape, infused with the scent of Kanye West’s sweaty crotch.

Don’t Live a Label, Live a Life

Let’s be honest. No-one really gives a damn about your car, your house or your clothes (okay, maybe a few people you know who are really insecure will be as jealous as hell). Most people are too wrapped up in their own stuff to give a stuff about your stuff.

You matter a hell of a lot, but only to a handful of people -- and those people don’t give a rats about your status symbols. They just love you.Besides, isn’t it true that the people we admire are those who are genuinely happy in their own skin?

Kids inherently understand this. Your kids don’t care about your status. They just want to spend time with you.

Case in point: on our way home from Myer on one of our father-and-son Saturdays, Louie and I decided to catch the train. One whole stop (Thomas the Tank Engine has a lot to answer for). As the train arrived at the station, he almost jumped out of his skin when he saw the driver and did a ‘toot toot’ signal with his arm. ‘That’s Mister Conductor!’ squealed Louie.

‘Mister Conductor’ waved meekly, then looked away.

When the train stopped, I took my son’s hand and introduced him to his hero. He was in his 50s, pasty-white, with a mixture of dandruff and sausage roll covering his standard-issue Metro woollen jumper. He wore a wedding ring, and I assume he was someone’s dad. He wouldn’t lift his head to make eye contact with me, but then Louie caught his eye and greeted him like he was a god, almost peeing his pants to actually shake the hand of Mister Conductor.

And for our one-station train ride, the driver dutifully tooted his horn so many times for Louie that I’m sure our fellow passengers wondered if there was some emergency.

As we got off at the station, Mister Conductor waved to us like John Wayne sitting atop a stallion.

‘Seeya later, partner!’

He looked like he’d grown two feet taller in one stop.As we walked home from the station, Louie squeezed my hand and grinned up at me.

Paediatrician Meg Meeker says that if parents could look at themselves through the eyes of their kids -- and see just how big and important and powerful they are to them -- that’s all the status they’d ever need.

So this Father’s Day I want you to do something simple but meaningful with your dad.

The Ultimate Father’s Day Present

If you’re lucky enough to have your father still with you, here’s how you can give him the ultimate Father’s Day present. Go and see him, whip out your phone, hit ‘record’, and ask him the following questions:

1. How did you meet Mum?

2. What advice can you share with me about money, life and happiness?

3. What does being a dad mean to you?

4. What are you most proud of?

5. How would you like to be remembered?

This is not for Facebook or Snapchat. It’s for you and your family’s legacy. One day, it’s all you’ll have left of him.

And you’ll treasure it.

Tread Your Own Path!

Who taught you about money?

Right now I’m on holidays with my family in Bali.

The last time Liz and I were here, we were newlyweds without a care in the world.

I’d romantically feed her strawberries and we’d laze by the pool, armed only with our bathers, towels and a frosty beer.

“Tapas?” Liz would ask.

“Sure”, I’d lazily reply.

Things are a little different this time around.

I’m spoonfeeding berry puree at Eddie and we’re getting it all over both of us.

We’re still by the pool, though we now have head-to-toe rash shirts, zinc cream, insect repellant, floaties, and there’s no lazing:

“Are you watching him?”

“I thought you were?”

“You have to watch him!”

Yes, kids are demanding, which can be exhausting on your holiday, but it’s damned good when they channel it into learning about money.

Here are some questions I’ve received from Barefoot kids.

Mister Barefoot, How Do I Make My Money Grow?

Hi Scott,

My name is Olivia and I am six years old. I put my pocket money in the bank on Thursdays at school. How do I make my money grow? Mum says to water it.

From Olivia

Hi Olivia,

You are already growing your money by putting it in the bank on Thursdays at school!

However, I’d like you to ask your mum if you could stop putting your money in the bank from now on.

See, banking is very boring. The only people who really care about banking are the people at the bank. That’s why they give you all those comic books with silly characters like ‘Cred’. They’re trying to make it cool, but trust me it’s really boring.

But I pinky promise I’m going to teach you something very cool.

I want you to ask your mum to get three glass jam jars (without the jam!). Ask her to label them ‘Save’, ‘Give’ and ‘Spend’. Then keep them in your room, where you can see the money piling up inside them.

Next I want you to think about all the things you can do around the house (like watering the garden) that would help out Mum and Dad. Ask Mum if you can get paid in coins, but only if you do a good job.

When Mum gives you your pay, I want you to put one coin into each jar:

The ‘Save’ jar is for something big you want to buy but you can’t afford right now (preferably something like a Super Soaker that your brother wants). Each time you do a job and get paid, you’ll see the coins filling up in the jar. So long as you don’t take them out, you’ll be able to blast your brother with your Super Soaker!

The ‘Give’ jar is for helping other little girls who are not as lucky as you. At Christmas time you can buy these girls presents, wrap them, and put them under a tree at the shopping centre.

The ‘Spend’ jar is for lollies.

How Do I Earn More Interest?

Hi Scott

My name is Kyla and I am 14 years old. I get $40 pocket money per month, of which I save $10 into my saving account. I have also started delivering fliers and earn $19 upward per week depending on the number of brochures for the week. I save $10 per week of that money also. I do not get a lot of interest on my savings account. Any ideas?

Kyla

Hi Kyla,

Unfortunately I can’t help you earn more interest -- we’re all in the same boat at the moment -- but I can help you earn more money.

Now, you sound like a very smart person, so I’m going to get you to put a proposal to your mum and dad.

See, your parents are very busy people, they work really hard, but sometimes that means they don’t have a lot of time to hunt around and get the best deals on the things they buy.

But you do.

So over the next year, whenever your mum or dad pays a bill, ask them to show it to you, and then you can do the research online and see if you can get them a better deal. It could be on their electricity, or their mobile phone, or even when they’re shopping at the supermarket.And if you want to earn even more money, you could ask your parents if you can be in charge of monitoring the household power bill, and you could work out getting an extra payment if you can keep the bill under figure.

Good luck!

My Parents Are Losers

Hi Scott,

I saw your call-out for kids to ask you a question. Well, I am 16 and I have a question for you. What can I do about my parents? They are 46 (Dad) and 44 (Mum). They have always rented, and they have never had any money -- but Dad has always driven good cars like his latest HSV Commodore (bought brand new). They also have credit card debts. They have taught me what not to do about money.

Luke

Hi Luke,

You’re one in a million, mate.Kids model their parents’ behaviours -- especially when it comes to money. That’s why some families never seem to be able to get ahead. It’s like each generation gets stuck in a prison of poverty.

Not you. You’re smart enough to have learned what not to do from your parents.

I talk to teenagers all the time about money, but most of them are cocooned from the consequences of bad choices. You’ve lived it, and that’s why you’ll make better decisions than your parents have.

See, money is one of the great levellers of life: you don’t need a high-paying job, you don’t even need to be particularly smart, you just have to start. And that’s your power. You have the miracle of compound interest on your side. By starting to save and invest now, you’ll earn more money over your lifetime than your parents did working their entire lives.

Don’t bother trying to change your parents. It’s too late for them.

Love them. Just don’t live like them.

Tread Your Own Path!

Who You Should Have Voted For

Happy new financial year!

Actually, the start of the new fiscal year won’t be that happy for everybody.

I’ve always thought that politics was showbiz for ugly people, and the weekend’s non-election had more twists and turns that an episode of House of Cards.

It seems like the only real winner from the election so far is Nick Xenophon, who looks like he’ll be able to wield a big stick in the new parliament. Over the years I’ve had a bit to do with him, and I quite like the guy.

So, how will he influence your hip pocket?

Well, negative gearing reform is all but dead and buried.

Xenophon is pro-negative gearing … he’s apparently got eight investment properties himself.

He’s also in favour of a Royal Commission into the banks, and for cutting super entitlements for the wealthy. Though we’ll have to wait a while to see what happens with the Coalition’s proposed changes to superannuation.

The bigger problem is this:

With a potentially hung parliament, whoever becomes Prime Minister will spent much of their time just trying to keep their job (and the rest of their time massaging the egos of the cross benchers).

So in terms of reform, don’t expect much to happen in the next three years (or until we get sent back to have another go at voting). And if there’s crisis, like a GFC Mk 2, don’t expect any strong leadership at the helm.Of course we don’t actually know how any of this is going to pan out yet … but we’ll keep you informed.

And now, here’s my nationally syndicated newspaper column.

Who You Should Have Voted For

As a finance guy, I look at both political parties the same way I look at a separated couple who have leased BMWs and $48,000 each in credit card debt, but are trying to one-up each other to win their kids’ affection.

“Hey Tammy, do you want a pony?”

“Hey Timmy, do you want … umm… Delta Goodrem to play at your eleventh birthday party?”

Let’s be honest: what both sides really care about is who gets to drive around in the fancy white car with the little Aussie flags on the bonnet (hell, even the Greens want flags on their Prius).

It’s enough to turn you into a ranty-tanty Alan Jones. Or, in my case, to feel fed up with the lot of them.So today, in honour of the political Punch-and-Judy show, I’m going to share with you the stories of two people who genuinely deserve your vote.

They’re not wealthy. They’re not seeking election. They’re not wanting handouts.

They’re people like you and me.

The Country Mum Who Built a Hospital

“What am I going to do now?”

Helen Brown was a typical stay-at-home mum, wondering what to do with herself after her fourth and final son left the nest.

“We are not wealthy. We live in Kyabram, and my husband runs a small signwriting business. We’d never been overseas before, so when the boys left we decided we should have a holiday”, says Helen.

So in 2007 Helen and her hubby saved up and went to Uganda.

They quickly realised they were more interested in meeting people than watching animals, and they struck up many friendships during their travels. They stayed in touch with one bloke they met, a community leader called Ssenwogerere (or David for short).

After they got home, David wrote to them and mentioned that five elder women from his village needed to raise $200 as seed capital to get into the chicken business. Helen decided she’d do some fundraising in the Kyabram community, and ended up raising the dough.

The following year, she saved up and took two of her sons to the Ugandan village to meet the women.

That trip was a turning point for Helen and the village of Lubanda. When she returned home she started up HUG (Help Us Grow) as a not-for-profit organisation to help the village community help themselves.

Helen is not religious, she believes passionately in a hand up rather than a handout, and she doesn’t draw a wage from HUG. “Every last cent goes to the community”, she tells me.

Small chickens?

Hardly.

Since 2008, HUG has built the village a community centre where the locals come together and learn new skills, a secondary school, and a medical clinic that serves a population of around 50,000 people.

How’s that for a legacy?

“I go every year. This is my tenth year … and I spend three months there each time”, she tells me.

“Why do you do it?”, I ask.

“Because it fills me with absolute joy.”

The Man Who Never Forgot

Chennupati Jagadish grew up dirt poor in a small village in southern India.

He may never have gone to high school if it weren’t for a kind teacher who invited him to live with his family and study.

And you could say that Chennupati made the best of it. He went on to become one of the world’s leading physicists, lauded for his pioneering work in nanotechnology. He’s even received an Order of Australia for his contribution to physics, engineering and a whole bunch of other stuff that goes straight over my head.

The dude is seriously accomplished (and what’s more he’s a Barefooter, which is how I heard about him!). For a boy who studied by a kerosene lamp, he’s come a long way.

Now there are plenty of people who get to the top of the tree, only to forget the kind people who helped them along.

Not Chennupati.

Despite being on an academic’s wage, he wanted to repay the favour by giving students from the developing world the same opportunity he had all those years ago.

So he and his wife ploughed $140,000 of their own cash into an endowment fund. It pays all the students’ costs -- airfares, living expenses, the whole enchilada -- while they’re studying away from home.

“It’s important to remember the people who helped me, and to express our gratitude. I want to leave my mark behind me, and our endowment will continue for ever.”

Again, how’s that for a legacy?

“I’m a scientist, and I publish a lot of papers”, says Chennupati, “but the most satisfying thing in my life is helping young people.”

Living Your Legacy

I’ve shared these stories with you today for two reasons:

First, for the past 55 days you could be forgiven for thinking you live in southern India, or Uganda, with all the problems the pollies have spooked us with.

The truth is we live in the greatest nation on earth. I mean, where else in the world could one of the biggest election issues be changes to super: “You mean I can have only $1.6 million in my super fund tax free … THIS IS AN OUTRAGE!”

Second, you don’t have to be a politician to make things happen. Hell, you don’t even need to be wealthy.

And that’s the real story here: Helen and Chennupati have, each in their own way, created a legacy that will live much longer than the next election cycle.

Tread Your Own Path!

Why Won’t He Marry Me?

I’ve had a convicted murderer ask me for share tips from jail.

I’ve had a wife ask me about life insurance payouts (while they were still married, and he was still alive).

I’ve even had a few first division TattsLotto winners ask me how to hide their loot.

But I’ve never been asked to arrange a wedding. That is until last week, when this email came through:

Scott,

I need your help. It’s about my partner. See, everything Barefoot says to do, my partner does. He follows your financial advice religiously. So my question is: WHEN ARE YOU GOING TO TELL HIM TO MARRY ME? We have been together five years, have a child, a dog and a home. I get it that weddings are expensive, but I NEED the title of Mrs! Please, Barefoot, make him rush to the altar as fast as he buys your share picks!

Lauren

Yes, it’s more Dr Phil than finance, but hey, I’m as nosey as the next guy -- so I called Lauren up.

Turns out she’s a wedding planner. Seriously. A wedding planner who isn’t married is like a butcher without sausages, or Tony Abbott without his Speedos. It’s just not right. Lauren urged me to make it right. So we hatched a plan.

Lauren and Barefoot Chris (unmarried).

I rang her partner, Chris, and had Lauren waiting on another phone line. It was time to do a deal.

Barefoot: “G’day Chris, it’s the Barefoot Investor here.”

Chris: “I’ve been expecting your call.” (Turns out he’d read last week’s newspaper, where I printed Lauren’s question.)

Barefoot: “Now you trust me to give you good financial advice, right?”

Chris (laughing nervously): “Yes.”

Barefoot: “Well, I’ve got a great investment for you. It’s the bluest of blue chips. It pays amazing dividends. This isn’t a day trade, it’s long term. And I mean till-death-do-you-part type long term. It’s Lauren, the mother of your child.”

Chris: “Uh-huh.”

Barefoot (awkward silence): “So ...”

Chris: “So ... you’ve put me in a tight spot.”

Barefoot: “Look, let me take a wild stab at this. You’re thinking, we’ve already got a kid, and a mortgage, what do I need a piece of paper for … especially if it costs $40,000 … right?”

Chris: “You’ve got it! Though I’m pretty sure it would be $50,000 if she was involved.”

And with that opening bid I was off to the races.

I got Lauren on the line and went back and forth between the two of them like a real estate agent with two Chinese bidders.

Barefoot: “He thinks it’s going to cost $50,000. What’s the lowest you can go, Lauren?”

Lauren: “I’d do it for $20,000!” she squeals.

Barefoot: “She’ll do it for (cough, cough) $10,000, Chris, but I think she’s got more in her. Let’s push for $7,500.”

Lauren: “Oh now that’s stretching it … does that include a ring?”

Barefoot: “Chris, got any Burger Rings? Cheezels? Let’s get this deal over the line.”

No One Plans a $40,000 Wedding

The average cost of a wedding in Australia is somewhere between $36,700 (IBISWorld) and $48,296 (Bride To Be magazine).

Let’s call it $40,000.Of course no one sets out to spend that much –- it just works out that way.

As a wedding planner, Lauren knows that -- it’s the ultimate emotional spend.And as the partner of a wedding planner, Chris has been exposed to enough Bridezillas -- which is presumably why he’s guarding his Mojo like a junkyard dog.

There’s a ‘wedding tax’ that makes everything more expensive.

When I got married I remember meeting with a wedding photographer who came highly regarded.

“Photography will cost $5,000”, he said dismissively, straight off the bat, without even breaking a sweat.

“Right, well that sorts that out. We’ll get our best mate to take the snaps”, I said.

And on it went.

In the end we ditched a wedding venue and got married at our farm. The ceremony was just down from the shearing shed, under a big beautiful tree that I hope one day our boys will get married under too.

The reception was in the backyard.

Now three years (and two kids) after our wedding, here’s my reflections on the night:

I don’t remember the paper quality of the invitations, the cake, or the flower arrangements. All I remember is having a great time with my family and friends, dancing badly, and marrying my best friend.

What about Chris?

Well, he tells me he’s currently shopping for a ring, but in the meantime he’s turned into a bit of a Groomzilla:

“The only food I want is sausage rolls and saveloys”.

“Oh, and I want the Barefoot Investor be the MC”.

Now he’s put me in a tight spot...

Tread Your Own Path!