Reply With QuoteWithdraw some cash from Woolies on top of buying a few items. It appears on the account just as a purchase, not a withdrawal.
Terrific idea! I should have thought of that. If you buy shares with franking you get credits back at tax time to.Originally Posted by The Sampler
Withdraw some cash from Woolies on top of buying a few items. It appears on the account just as a purchase, not a withdrawal.
If we go by the word of law, none of those are allowed because they would be considered "inducement" offers.
Having said that, I was using Ladbrokes during the last World Cup and somehow managed to get bonus credits 1 time. No idea what happened there, maybe a software glitch?
Other times, like during Melbourne cups, there would always be a "bonus this, bonus that" offer with a disclaimer at the bottom saying "not applicable to residents of NSW".
It sucks to be us, but I guess it's karma... The price we pay for being allowed to punt on whores endlessly, lol!
You should check that to be certain. When I've done that at Coles it comes out on the statement as a cash withdrawal item. Maybe it depends on the shop/bank setup.
I've met some of these controlling women. There's a high probability of her demanding to have a share of the CommSec account. How's he going to get out of that?
And once he proposes the idea, he will have to go through with it because it would be suss as hell if he backs out when she makes that demand.
The only sure fire way to beat these women at this game is to face the truth and act accordingly: all of his *current* income is essentially ineffective for punting. Any move that he makes that would reduce cash from his income going into that joint account would stand out like a giant red flag.
Based on this, he has to slowly turn the tide back in his favour without disrupting the "status quo" too much.
Some ideas to OP:
- Try fiddling with the current job. Hopefully your employer can co-operate and split your pay into 2 accounts. If Yes, tell them to split a small portion of pay (eg. 10-15%) into your own account, and make sure that all future pay rise amounts go into that account. Proceed to tell the wife that you've got a pay cut. Times are tough, what can you do? Obviously, never ever tell her about pay rises.
- Get a side gig. If you can do this without letting her know about the second job, get the employer to pay 100% into your own account. If you can't, then you'll have to sacrifice a portion of it into the joint account. Obviously tell her you make a lot less than you actually do on the second job!
- Any other method you can think that you can make more money. Maybe you're good at doing business, so you start a business. Heck, even Hidden Python's advise is good, win at the pokies. You might have a knack for it, who knows?
an ebay business at home comes to mind, you could set up a separate account for business and withdraw money for sourcing items then pocket some of the money and also have his own account. I make thousands on ebay and its all separate finances to our own accounts. If OP can get some ebay or amazon selling going on a part time basis he should be able to move some of money to his own account, He has to get out of this joint account bs. I wonder how happy a sex life op has as some marriages can be pretty dull in that department. Hence the need to punt. If its a sexless marriage with controlling wife he maybe needs to think about separating.
Every time you pay for stuff on card, get out a little extra cash and throw the receipt. Or, develop a “gambling problem”.
When I had a partner, I was the most unsuccessful gambler I knew!!
Spot on, thats my go to reason. Also if out drinking with mates, dont party too hard and put some of that extra cash u dont spend in your punting pocket. I find having legitimate reasons to spend money if the key, but they might be harder to start up in an economic climate like this.
Lots of good advice, thanks guys.
We original set up our joint account to consolidate our home loans and have a designated offset which both our salaries go into.
Been intending on opening a commsec account and start putting in money into shares. For newbies into the share markets like me, know there's a commsec 'pocket' app where all the guess work is done for you and put into ETF in different stock industry.
COMMSEC is good I invest in shares that are fully franked lots of the banks are, you can get some good dividends to defiantly a wise move to invest. Invest with caution stick to the ones 100% fully franked start with the banks and mining BHP, RIO and Woodside, you should do ok. Be careful listening to advise when you invest you need a strategy, avoid stocks you don't know. You still should both have your own accounts for personal use away from the home loan.
You are looking at it the wrong way around bro.
Think of it as "hiding your wife from your punting" and then it will be all easy and simple and clear.
If you ONLY withdraw cash it shows as withdraw cash. If you withdraw cash in addition to buying an item it shows as a purchase.
What will happen if smart wife ask what things you buy cost $200. Unless you go to coles everyday buying things $10 and cash withdrawal $20, this your smart wife will also ask honey why go to coles everyday especially if wife do the budget.
The best is to have Lunch money and save up for the punt.
This all sounds like laundering your own money. Buy lots of snacks and lollies and instead of eating them, wait outside a school and sell them to kids to get your money back to then use for punting. To make it more scalable you could buy more expensive consumables like alcohol and offload to your mates.
Lol, bro, if you think about it, he actually needs to do the opposite of money laundering. Turn his legit income into cash without being found out by the lady boss.
All this is doom if your wife is the Chief Financial officer.
Do some cash based work, sell some old stuff
Taking on Goldfishman's remarks i propose an additional solution on top of CommSex.
Look into getting a Novated Lease on a new car, something that you and your wife would need and love to have.
Government incentives are amazing on EV cars right now.
A Novated Lease will slightly reduce your overall net income, but also make you more tax efficient and you get a new car to boot!
Where does the punting come in? Well at the end of your lease you need to pay the residual to keep the car, normally 25%.
So its good practice to put a portion of your pay into a separate account to cover the the residual at the end of the lease.
The formula would be (Residual Cost / Lease Term X Frequency of Pay) + Punting.
Open a paperless fee free account with a bank thats not the Big4, I hear Macquarie Bank and ING are pretty good looking at the other thread and get your payroll to send that calculated amount there.
Additionally any costs related to the car can be claimed back from your leasing agency account. You can get these claims to be paid to the residual account for some more punting money.
While you're there, increase your superannuation contribution to the maximum or to whatever you can afford. Might as well since we are making sound financial decisions.
So in summary:
1. CommSex account for shares and punting
2. Novated lease for new car, setup another account for the residual end of lease payment
3. Increase pre tax super contributions
This should result in:
1. A decent share portfolio
2. A new car to distract your wife + any cash from trading in the old car
3. 2 accounts with cards to access discreet cash
4. Multiple reasons why your income has reduced into the joint account.
5. A better retirement fund.
This is properly whipped. Conversation should go “hey hun, I don’t want to feel like I have to ask permission to spend money I earn, so let’s have our own accounts and then transfer money into the joint account to pay for our joint shit”. All this talk of commsec accounts and novated leases - what the fuck is wrong with you people.
Please don’t suggest the forum lurkers start hanging around schools. Maybe they could get a novated lease on a white van too
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