1 00:00:00,680 --> 00:00:04,920 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 2 00:00:04,960 --> 00:00:08,680 Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before 3 00:00:08,680 --> 00:00:11,160 Speaker 1: we get started on She's on the Money podcast, I 4 00:00:11,160 --> 00:00:14,319 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:17,680 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,240 Speaker 1: acknowledging the elders, the ancestors and the next generation coming 7 00:00:22,320 --> 00:00:26,960 Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing 8 00:00:27,080 --> 00:00:30,120 Speaker 1: and the storytelling of you to make a difference for 9 00:00:30,240 --> 00:00:32,640 Speaker 1: today and lasting impact for tomorrow. 10 00:00:33,320 --> 00:00:34,120 Speaker 2: Let's get into it. 11 00:00:34,760 --> 00:00:39,000 Speaker 3: She's on the Money, She's on the Money. 12 00:00:57,720 --> 00:01:01,040 Speaker 4: Hello, and welcome to She's on the the podcast a 13 00:01:01,120 --> 00:01:04,960 Speaker 4: millennials who want financial freedom. Welcome back to my favorite 14 00:01:05,000 --> 00:01:07,679 Speaker 4: episode of the week, our Money Diaries, where I get 15 00:01:07,720 --> 00:01:10,600 Speaker 4: the absolute privilege of talking to one of our incredible 16 00:01:10,680 --> 00:01:13,880 Speaker 4: She's on the Money community members. Let's jump straight into it, 17 00:01:13,920 --> 00:01:16,000 Speaker 4: because this week I got this message. 18 00:01:16,600 --> 00:01:16,880 Speaker 1: Hi Ve. 19 00:01:17,160 --> 00:01:20,039 Speaker 4: I'm a twenty four year old six figure income earner 20 00:01:20,200 --> 00:01:23,240 Speaker 4: with no university degree. My partner and I have bought 21 00:01:23,240 --> 00:01:26,680 Speaker 4: a house that's nearly finished being renovated. I've also begun 22 00:01:26,720 --> 00:01:29,399 Speaker 4: my investment journey which feels like a big shift for me, 23 00:01:29,640 --> 00:01:31,400 Speaker 4: as I used to feel like it was a form 24 00:01:31,440 --> 00:01:35,840 Speaker 4: of gambling, having experienced family financial trauma. I am so 25 00:01:36,160 --> 00:01:39,160 Speaker 4: proud of where I am now, Money Diarist. 26 00:01:39,880 --> 00:01:43,040 Speaker 2: I'm proud of you too. How exciting and you're only 27 00:01:43,120 --> 00:01:43,840 Speaker 2: twenty four. 28 00:01:44,440 --> 00:01:45,240 Speaker 5: Yeah, thank you. 29 00:01:45,319 --> 00:01:47,920 Speaker 6: It's been a bit of a journey, but really proud 30 00:01:48,000 --> 00:01:48,840 Speaker 6: of where we are now. 31 00:01:48,960 --> 00:01:51,880 Speaker 2: Oh my gosh, I love it so much. Let's dive 32 00:01:51,960 --> 00:01:52,560 Speaker 2: straight in. 33 00:01:52,880 --> 00:01:55,840 Speaker 4: At the start of every episode, I always ask Money 34 00:01:55,880 --> 00:01:58,880 Speaker 4: Diarist or Gig your money habits if I asked you 35 00:01:58,960 --> 00:02:00,960 Speaker 4: to give them a grade from A through to F. 36 00:02:01,320 --> 00:02:05,279 Speaker 6: I was having a think about this last night, and 37 00:02:05,320 --> 00:02:07,120 Speaker 6: even though I'm earning really well and I feel like 38 00:02:07,120 --> 00:02:09,480 Speaker 6: I'm doing really well with the house and things like that, 39 00:02:09,520 --> 00:02:12,160 Speaker 6: I would still rate my money habits I think a 40 00:02:12,240 --> 00:02:15,679 Speaker 6: B plus. As I'm sure you'll get into it after that, 41 00:02:15,840 --> 00:02:17,680 Speaker 6: there's some areas that I definitely need to improve. 42 00:02:17,720 --> 00:02:20,079 Speaker 4: All right, I am very excited to learn more about that. 43 00:02:20,200 --> 00:02:22,920 Speaker 4: But as always, I want to ask you my favorite question, 44 00:02:23,160 --> 00:02:25,880 Speaker 4: Money Diarist, Can you tell me a little bit more 45 00:02:25,919 --> 00:02:27,120 Speaker 4: about your money story. 46 00:02:27,520 --> 00:02:31,880 Speaker 6: So I first started working when I was a legal age. 47 00:02:31,880 --> 00:02:34,200 Speaker 6: I think that's thirteen and nine months, and I've always 48 00:02:34,280 --> 00:02:37,799 Speaker 6: had quite a good, strong work ethic. I've always been 49 00:02:37,840 --> 00:02:42,040 Speaker 6: quite independent with money as possible, as I was in 50 00:02:42,160 --> 00:02:45,080 Speaker 6: just a single earning income and when my family members 51 00:02:45,080 --> 00:02:47,400 Speaker 6: had quite a few of mental illness problems. So I've 52 00:02:47,440 --> 00:02:50,000 Speaker 6: always kind of just looked after myself and gone, do 53 00:02:50,000 --> 00:02:52,240 Speaker 6: you know what, I'm just going to work extra hours, 54 00:02:52,400 --> 00:02:54,760 Speaker 6: even from a young age, to just try and save 55 00:02:54,840 --> 00:02:57,079 Speaker 6: the most I can and take the most pressure off 56 00:02:57,080 --> 00:03:00,760 Speaker 6: of my family. I always believe that money isn't the 57 00:03:00,800 --> 00:03:03,280 Speaker 6: most important thing in life, but the thought of not 58 00:03:03,360 --> 00:03:06,880 Speaker 6: having that additional financial stress is something that I've always 59 00:03:06,960 --> 00:03:09,160 Speaker 6: wanted to have. So even though it's not the most 60 00:03:09,200 --> 00:03:12,040 Speaker 6: important thing and I do prioritize other things, it's definitely 61 00:03:12,080 --> 00:03:14,840 Speaker 6: one of the priorities. Even since I was young to 62 00:03:14,919 --> 00:03:18,000 Speaker 6: kind of Okay, if I work an extra three hours, 63 00:03:18,040 --> 00:03:20,640 Speaker 6: i can earn you know, this much extra for the week, 64 00:03:20,680 --> 00:03:23,040 Speaker 6: which then you know, I can either buy something else 65 00:03:23,040 --> 00:03:24,919 Speaker 6: so I can save that towards a goal. And I've 66 00:03:24,960 --> 00:03:28,639 Speaker 6: always kind of been money driven, I guess to a degree. 67 00:03:28,840 --> 00:03:29,320 Speaker 2: I love that. 68 00:03:29,400 --> 00:03:32,120 Speaker 4: I feel like knowing that that's one of your mentalities 69 00:03:32,200 --> 00:03:34,440 Speaker 4: is really powerful as well, because you can kind of 70 00:03:34,440 --> 00:03:35,040 Speaker 4: harness it. 71 00:03:35,120 --> 00:03:36,680 Speaker 2: And I think sometimes. 72 00:03:36,240 --> 00:03:37,880 Speaker 4: People go, oh, it's only an extra one hundred and 73 00:03:37,920 --> 00:03:39,760 Speaker 4: fifty bucks or whatever it might be. But You're like, 74 00:03:39,960 --> 00:03:42,640 Speaker 4: that takes so much pressure off and from little things. 75 00:03:42,880 --> 00:03:46,480 Speaker 4: Those things compound and they actually grow and become really 76 00:03:46,520 --> 00:03:49,520 Speaker 4: impactful in the larger I guess phase of your life. 77 00:03:50,000 --> 00:03:50,760 Speaker 5: Yeah, exactly. 78 00:03:50,800 --> 00:03:53,400 Speaker 4: That tell me a bit more about becoming an adult 79 00:03:53,520 --> 00:03:56,120 Speaker 4: with that mentality, Like is that the same today? 80 00:03:56,480 --> 00:03:59,960 Speaker 6: Yeah? Same today? So how my structure works at the moment, 81 00:04:00,240 --> 00:04:02,320 Speaker 6: I get my base salary but also get commissioned. So 82 00:04:02,320 --> 00:04:05,839 Speaker 6: I'm very much in the position where I can kind 83 00:04:05,880 --> 00:04:07,680 Speaker 6: of earn as much as I want to earn. 84 00:04:07,680 --> 00:04:08,440 Speaker 5: To a degree. 85 00:04:08,680 --> 00:04:10,800 Speaker 6: Of course, there's a bit of luck that comes into it. 86 00:04:10,920 --> 00:04:13,920 Speaker 6: And obviously I try and keep to my standard hours. 87 00:04:13,960 --> 00:04:16,880 Speaker 6: But when I'm at work, I'm just at work and 88 00:04:17,160 --> 00:04:20,160 Speaker 6: I eliminate all other distractions and I'm going, Okay, how 89 00:04:20,200 --> 00:04:23,040 Speaker 6: can I actually get the most out of these hours? 90 00:04:23,080 --> 00:04:25,800 Speaker 6: Which took me a little while to get there? In 91 00:04:25,839 --> 00:04:29,400 Speaker 6: my adult life, I think, you know, each year is different. 92 00:04:29,440 --> 00:04:31,640 Speaker 6: If I've got a lot going on in my personal life. 93 00:04:31,680 --> 00:04:33,760 Speaker 6: You know, last year wasn't as good and I kind 94 00:04:33,760 --> 00:04:36,640 Speaker 6: of got distracted a bit easier. But this year, especially 95 00:04:36,640 --> 00:04:39,880 Speaker 6: since we've recently purchased our house, I've just been head down, 96 00:04:39,960 --> 00:04:42,479 Speaker 6: pump up at work and just trying to smash it 97 00:04:42,520 --> 00:04:43,480 Speaker 6: out as much as I can. 98 00:04:43,760 --> 00:04:44,880 Speaker 2: I love that so much. 99 00:04:44,920 --> 00:04:47,400 Speaker 4: Do you find because you get commissions as a part 100 00:04:47,400 --> 00:04:50,479 Speaker 4: of your role that you tend to work more hours? 101 00:04:50,480 --> 00:04:52,360 Speaker 4: Because I feel like if I was working in a 102 00:04:52,440 --> 00:04:55,000 Speaker 4: role where you said, oh V, like, if you get comms, 103 00:04:55,640 --> 00:04:58,520 Speaker 4: you you know obviously can scale your own income. Does 104 00:04:58,560 --> 00:05:00,840 Speaker 4: that mean that you're working more hours then you should 105 00:05:01,000 --> 00:05:02,640 Speaker 4: or is that something where you're like, no, V, that's 106 00:05:02,680 --> 00:05:03,560 Speaker 4: one of the benefits. 107 00:05:03,600 --> 00:05:05,640 Speaker 2: I love that I can put in additional hours. 108 00:05:06,080 --> 00:05:08,919 Speaker 6: When I first started, I was doing additional hours. I 109 00:05:08,920 --> 00:05:10,680 Speaker 6: think also that's because I was just kind of a 110 00:05:10,680 --> 00:05:13,800 Speaker 6: trainee and trying to understand as much as possible. But 111 00:05:13,839 --> 00:05:16,560 Speaker 6: these days, I'm really strict with myself. I won't work 112 00:05:16,600 --> 00:05:19,360 Speaker 6: an extra hour after work, but if I need to 113 00:05:19,400 --> 00:05:21,599 Speaker 6: work a little bit through my lunch break, I might, 114 00:05:22,000 --> 00:05:23,720 Speaker 6: But it's a really day to day kind of thing. 115 00:05:23,880 --> 00:05:25,599 Speaker 6: The majority of time, I try and take my full 116 00:05:25,720 --> 00:05:28,159 Speaker 6: lunch break go for a walk. Oh clear in my mind, 117 00:05:28,279 --> 00:05:30,280 Speaker 6: because you know, when I'm at work, like I said, 118 00:05:30,279 --> 00:05:31,760 Speaker 6: I'm kind of head down, bump up. I know, if 119 00:05:31,800 --> 00:05:34,159 Speaker 6: I go in with that mentality every single day without 120 00:05:34,200 --> 00:05:36,560 Speaker 6: taking my breaks, I'll spurn myself out. 121 00:05:36,600 --> 00:05:38,640 Speaker 5: So I'm trying to avoid that as much as possible. 122 00:05:38,760 --> 00:05:40,680 Speaker 4: I like that, all right, tell us a little bit more. 123 00:05:40,720 --> 00:05:42,760 Speaker 4: What do you actually do for work and how much 124 00:05:42,800 --> 00:05:43,520 Speaker 4: money do you earn. 125 00:05:44,040 --> 00:05:46,200 Speaker 6: I've worked in recruitment and I've done this for the 126 00:05:46,279 --> 00:05:49,400 Speaker 6: last three years. My salary is very much commission based. 127 00:05:49,440 --> 00:05:53,040 Speaker 6: So last fin etal year, I'm so so proud to say. 128 00:05:52,839 --> 00:05:55,520 Speaker 5: That I one hundred and five thousand plus super. 129 00:05:55,400 --> 00:05:56,800 Speaker 2: Correct the six figures. 130 00:05:57,240 --> 00:05:58,280 Speaker 5: Ye oh, my gosh. 131 00:05:58,279 --> 00:06:00,279 Speaker 6: It was the best feeling ever. When I saw my 132 00:06:00,600 --> 00:06:01,880 Speaker 6: financial statement at the end of the. 133 00:06:01,960 --> 00:06:05,360 Speaker 5: Year, I was like, oh, I was so happy killing it. Oh, 134 00:06:05,440 --> 00:06:06,440 Speaker 5: it felt so good. 135 00:06:06,560 --> 00:06:09,040 Speaker 6: And that's on a base salary of seventy five thousand 136 00:06:09,080 --> 00:06:12,800 Speaker 6: plus super so that additional what thirty thousand is in 137 00:06:12,839 --> 00:06:13,960 Speaker 6: my commission. 138 00:06:13,680 --> 00:06:17,920 Speaker 4: When you say base salary, sometimes these things are different 139 00:06:18,040 --> 00:06:20,920 Speaker 4: from I guess company to company. I know that if 140 00:06:20,960 --> 00:06:23,919 Speaker 4: you're in real estate and you get paid a base salary, 141 00:06:24,000 --> 00:06:26,400 Speaker 4: the expectation is that you kind of pay back your 142 00:06:26,400 --> 00:06:29,000 Speaker 4: base salary and then you earn on top of that, 143 00:06:29,560 --> 00:06:31,920 Speaker 4: is this just you get seventy five thousand dollars as 144 00:06:31,920 --> 00:06:33,920 Speaker 4: a base just for turning up to work, and then 145 00:06:34,040 --> 00:06:36,760 Speaker 4: anything above and beyond that is cream or tell me 146 00:06:36,800 --> 00:06:39,320 Speaker 4: a bit about how the comm structure works. 147 00:06:39,800 --> 00:06:43,080 Speaker 6: Yeah, so like the latter, So seventy five thousand for 148 00:06:43,120 --> 00:06:45,520 Speaker 6: me just coming to work, and then anything on top 149 00:06:45,560 --> 00:06:48,920 Speaker 6: of that is like an additional, very nice little bit 150 00:06:49,000 --> 00:06:49,400 Speaker 6: on top. 151 00:06:49,760 --> 00:06:51,240 Speaker 5: But with that, we are. 152 00:06:51,200 --> 00:06:54,640 Speaker 6: Given the expectation that we kind of earn a certain 153 00:06:54,680 --> 00:06:57,720 Speaker 6: amount for the company. But if we don't do that, 154 00:06:57,960 --> 00:07:00,640 Speaker 6: then you know, we might go into performance matternent. But 155 00:07:00,839 --> 00:07:03,120 Speaker 6: I earned over the kind of threshold that they're wanting 156 00:07:03,120 --> 00:07:06,400 Speaker 6: you to earn anyway, and majority of people do. It's 157 00:07:06,440 --> 00:07:09,320 Speaker 6: not very often that people earn less than what's kind 158 00:07:09,360 --> 00:07:10,200 Speaker 6: of required of them. 159 00:07:10,440 --> 00:07:12,080 Speaker 4: Yeah, that makes sense. So I was like, how does 160 00:07:12,120 --> 00:07:14,200 Speaker 4: this work? Because often when you have a base salary, 161 00:07:14,240 --> 00:07:16,840 Speaker 4: there's like base requirements and if you don't meet them, 162 00:07:16,920 --> 00:07:19,800 Speaker 4: it can be a little bit worrying when you say 163 00:07:19,800 --> 00:07:22,040 Speaker 4: you have a base salary of seventy five thousand dollars. 164 00:07:22,080 --> 00:07:25,480 Speaker 4: I'm just so pervy when people earn comms, because obviously 165 00:07:25,520 --> 00:07:29,040 Speaker 4: not everything is given when you're budgeting and doing cash 166 00:07:29,040 --> 00:07:31,160 Speaker 4: flow and planning. Do you just base it on the 167 00:07:31,280 --> 00:07:34,320 Speaker 4: seventy five thousand or are you basing it on the hundred? 168 00:07:34,840 --> 00:07:34,920 Speaker 1: Like? 169 00:07:34,960 --> 00:07:36,040 Speaker 2: How does that all work? 170 00:07:36,360 --> 00:07:38,480 Speaker 6: Well, that's the thing is that I haven't got a 171 00:07:38,520 --> 00:07:41,360 Speaker 6: set budget and I don't really look into these things. 172 00:07:41,520 --> 00:07:44,040 Speaker 6: And that's what I think my worst money have it 173 00:07:44,240 --> 00:07:47,320 Speaker 6: is is that I'm earning this money, but I'm not 174 00:07:47,640 --> 00:07:49,920 Speaker 6: planning where it's going. I've always been a good saver, 175 00:07:50,440 --> 00:07:52,520 Speaker 6: and I guess that's where my commission comes in. That 176 00:07:52,640 --> 00:07:54,840 Speaker 6: whatever my commission is for the month, that goes straight 177 00:07:54,880 --> 00:07:59,120 Speaker 6: into savings, but in regards to my budget and kind 178 00:07:59,160 --> 00:08:02,040 Speaker 6: of cash flow, not thinking about those things, which is 179 00:08:02,120 --> 00:08:04,560 Speaker 6: my next goal is. 180 00:08:04,520 --> 00:08:06,320 Speaker 5: To kind of get a bit of control over that. 181 00:08:06,680 --> 00:08:08,640 Speaker 4: All Right, next goal, I want to know what is 182 00:08:08,680 --> 00:08:11,040 Speaker 4: your big money goal that you're working towards. You mentioned 183 00:08:11,080 --> 00:08:13,080 Speaker 4: that you've already bought a house, so what are you 184 00:08:13,200 --> 00:08:14,360 Speaker 4: currently working towards. 185 00:08:14,680 --> 00:08:17,400 Speaker 6: We really want to finish our renovations, because we're doing 186 00:08:17,440 --> 00:08:19,320 Speaker 6: some this year and we're planning to do some a 187 00:08:19,320 --> 00:08:22,960 Speaker 6: bit next year, obviously starting to smash out our mortgage. 188 00:08:23,040 --> 00:08:26,080 Speaker 6: But the goal would be rather than just the house 189 00:08:26,120 --> 00:08:27,600 Speaker 6: and things like that, would be to go on a 190 00:08:27,640 --> 00:08:30,240 Speaker 6: European trip in the next three years or so. I 191 00:08:30,240 --> 00:08:32,559 Speaker 6: have been on a holiday for quite some time, so 192 00:08:32,720 --> 00:08:35,080 Speaker 6: I'd like to save up for that and go there. 193 00:08:35,080 --> 00:08:37,360 Speaker 6: But ultimately, the long, long term goal is to be 194 00:08:37,440 --> 00:08:39,320 Speaker 6: financially free, but that's quite a while away. 195 00:08:39,400 --> 00:08:40,280 Speaker 2: That takes ages. 196 00:08:40,440 --> 00:08:43,480 Speaker 4: I totally get that there are interim goals, my friend, 197 00:08:43,600 --> 00:08:46,520 Speaker 4: because same, I want to know a little bit more 198 00:08:46,559 --> 00:08:49,720 Speaker 4: about these renos that you've mentioned. So I've just gone 199 00:08:49,760 --> 00:08:52,160 Speaker 4: through the process and oh my gosh, they blow out 200 00:08:52,440 --> 00:08:53,120 Speaker 4: so much. 201 00:08:53,640 --> 00:08:54,680 Speaker 5: Oh my gosh, they do. 202 00:08:55,160 --> 00:08:57,760 Speaker 4: Tell me a bit more about your reno journey, what 203 00:08:57,880 --> 00:09:01,199 Speaker 4: it's cost, what you'd expected from the beginning, Like, is 204 00:09:01,240 --> 00:09:01,840 Speaker 4: it big reno? 205 00:09:02,000 --> 00:09:04,000 Speaker 2: Is it a little renot? Like what does it look like? 206 00:09:04,360 --> 00:09:04,920 Speaker 5: Yeah, of course. 207 00:09:05,080 --> 00:09:07,720 Speaker 6: So we bought a small, little house. It was kind 208 00:09:07,720 --> 00:09:09,680 Speaker 6: of one of those situations where you buy the worst 209 00:09:09,679 --> 00:09:12,480 Speaker 6: house in a night street. We're in this really cute 210 00:09:12,480 --> 00:09:15,960 Speaker 6: little area, lovely little houses around us, but our house 211 00:09:16,040 --> 00:09:16,760 Speaker 6: was horrendous. 212 00:09:17,040 --> 00:09:19,480 Speaker 5: It's only been rented for the last I think. 213 00:09:19,480 --> 00:09:21,640 Speaker 6: Thirty years, so you can tell that the people that 214 00:09:21,679 --> 00:09:24,200 Speaker 6: rented it didn't ridiculously look after it like it was 215 00:09:24,200 --> 00:09:28,400 Speaker 6: their own. Unfortunately, so it has been quite neglected. But 216 00:09:28,480 --> 00:09:31,280 Speaker 6: we purchased that about a year or so ago, now 217 00:09:31,679 --> 00:09:34,120 Speaker 6: a bit more soon, about early this year, and that 218 00:09:34,240 --> 00:09:38,440 Speaker 6: cost us six hundred and fifty thousand. And then because 219 00:09:38,440 --> 00:09:40,600 Speaker 6: we were doing the renovations, we only put the ten 220 00:09:40,640 --> 00:09:43,000 Speaker 6: percent deposit down instead of a full twenty percent, so 221 00:09:43,040 --> 00:09:45,280 Speaker 6: we had that extra ten percent deposit to put into 222 00:09:45,360 --> 00:09:48,480 Speaker 6: the renovations, which hopefully once these are all done, which 223 00:09:48,480 --> 00:09:51,800 Speaker 6: we're putting about sixty thousand in this year, then we 224 00:09:51,920 --> 00:09:55,080 Speaker 6: can refinance and hopefully have more equity in the house. 225 00:09:55,360 --> 00:09:58,720 Speaker 4: Oh love, how did you work out that sixty grand 226 00:09:58,840 --> 00:10:01,560 Speaker 4: worth of I guess Reno's was going to work out 227 00:10:01,600 --> 00:10:01,960 Speaker 4: for you? 228 00:10:02,080 --> 00:10:03,679 Speaker 2: Like did you go, you know. 229 00:10:03,679 --> 00:10:06,000 Speaker 4: To Bunning's and look at all the kitchens or were 230 00:10:06,000 --> 00:10:08,600 Speaker 4: you online? Or like where did you start? Because I 231 00:10:08,679 --> 00:10:10,120 Speaker 4: found it so overwhelming. 232 00:10:10,440 --> 00:10:14,200 Speaker 6: It was so overwhelming. We started mostly by getting quotes 233 00:10:14,320 --> 00:10:16,760 Speaker 6: from people who do renovations, just to see how much 234 00:10:16,760 --> 00:10:19,000 Speaker 6: it would cost for them to do it, plus the labor, 235 00:10:19,520 --> 00:10:22,720 Speaker 6: because then if that's kind of at the absolute maximum 236 00:10:22,720 --> 00:10:25,040 Speaker 6: of our range, then we kind of know what to 237 00:10:25,080 --> 00:10:27,079 Speaker 6: stick too. Roughly, so we made sure that all of 238 00:10:27,080 --> 00:10:29,840 Speaker 6: our quotes had a break down the kitchen, you know, 239 00:10:29,920 --> 00:10:33,240 Speaker 6: living space, paint, absolutely everything. We made sure they had 240 00:10:33,280 --> 00:10:36,760 Speaker 6: that breakdown, and then it was just online having a look, 241 00:10:37,120 --> 00:10:40,840 Speaker 6: reading different forums of people who have renovated their houses, 242 00:10:41,000 --> 00:10:43,240 Speaker 6: watching different reels of people who do it, and put 243 00:10:43,240 --> 00:10:44,320 Speaker 6: the prices next to it. 244 00:10:44,679 --> 00:10:47,040 Speaker 4: Yes, I do that on TikTok all the time. 245 00:10:47,559 --> 00:10:50,200 Speaker 6: Yeah, a bit of a process. But at the moment, 246 00:10:50,240 --> 00:10:53,559 Speaker 6: where very much like doing well with our budget. So 247 00:10:53,600 --> 00:10:54,640 Speaker 6: it's looking good at the moment. 248 00:10:54,800 --> 00:10:57,320 Speaker 4: Ah, I'm so envso was not so good with my 249 00:10:57,360 --> 00:10:59,800 Speaker 4: budget when it came to the renos. Let's go to 250 00:10:59,840 --> 00:11:01,720 Speaker 4: a really quick break because on the flip side, I 251 00:11:01,720 --> 00:11:03,640 Speaker 4: want to know a little bit more about that budget 252 00:11:03,840 --> 00:11:07,160 Speaker 4: and also about your debts and investments and to break 253 00:11:07,200 --> 00:11:08,199 Speaker 4: down that are bad. 254 00:11:08,040 --> 00:11:09,520 Speaker 2: Money habit you mentioned just before. 255 00:11:09,600 --> 00:11:17,000 Speaker 4: Don't go anywhere, guys, All right, money diarist, We are 256 00:11:17,160 --> 00:11:21,720 Speaker 4: back and I'm so pervy on your reno journey. Obviously, 257 00:11:21,920 --> 00:11:24,760 Speaker 4: when you are buying your first home, there's not always 258 00:11:24,800 --> 00:11:27,280 Speaker 4: a lot of room for investing and doing stuff on 259 00:11:27,320 --> 00:11:29,360 Speaker 4: the side. But I do want to ask anyway, do 260 00:11:29,440 --> 00:11:31,280 Speaker 4: you have any investments? If so, what are they. 261 00:11:31,800 --> 00:11:34,960 Speaker 6: Yeah, I do have a few investments, have my superannuation, 262 00:11:35,480 --> 00:11:39,559 Speaker 6: which I've slightly increased my risk profile for I didn't 263 00:11:39,600 --> 00:11:42,600 Speaker 6: realize until this year that you could actually change your 264 00:11:42,640 --> 00:11:44,520 Speaker 6: superannuation risk profile. 265 00:11:44,720 --> 00:11:46,520 Speaker 2: You can and everyone should review it. 266 00:11:46,880 --> 00:11:49,080 Speaker 6: Yeah, so I've actually made that a little bit more 267 00:11:49,200 --> 00:11:52,120 Speaker 6: aggressive considering that I'm only twenty four at the moment, 268 00:11:52,160 --> 00:11:54,160 Speaker 6: I've got a long way to go, and hopefully it'll 269 00:11:54,640 --> 00:11:57,240 Speaker 6: even out and should be fine over time. Love. I 270 00:11:57,320 --> 00:12:00,280 Speaker 6: also have a Raise account and a spaceship account, which 271 00:12:00,280 --> 00:12:03,520 Speaker 6: have about two thousand dollars spread across them. I started 272 00:12:03,559 --> 00:12:06,080 Speaker 6: them when I started listening to the podcast so well 273 00:12:06,320 --> 00:12:10,160 Speaker 6: I love this yeah Yeah, And I have a share 274 00:12:10,200 --> 00:12:12,640 Speaker 6: scheme with the company that I'm working for where they 275 00:12:12,640 --> 00:12:15,640 Speaker 6: contribute one hundred dollars a month from my paycheck. And 276 00:12:15,679 --> 00:12:18,280 Speaker 6: then I've also started dabbling in the share market myself. 277 00:12:18,280 --> 00:12:21,440 Speaker 6: So I have five investments at the moment, some blue chip, 278 00:12:21,559 --> 00:12:24,320 Speaker 6: someone a little bit more of the riskier side, which 279 00:12:24,320 --> 00:12:26,160 Speaker 6: add up to around the eight thousand. 280 00:12:25,920 --> 00:12:28,560 Speaker 2: Dollars mark oo, look at you go. 281 00:12:29,480 --> 00:12:31,960 Speaker 6: Yeah, something I'm so proud of because this was a 282 00:12:32,040 --> 00:12:35,199 Speaker 6: huge step for me. I always saw investing as more 283 00:12:35,240 --> 00:12:39,079 Speaker 6: of something gambling. I was never educated on it ever, 284 00:12:39,559 --> 00:12:41,240 Speaker 6: and I just always thought, oh my gosh, why would 285 00:12:41,280 --> 00:12:44,240 Speaker 6: you invest Like you're throwing your money away, You're going 286 00:12:44,280 --> 00:12:47,280 Speaker 6: to lose it. But my partner was into investing when 287 00:12:47,280 --> 00:12:49,680 Speaker 6: we met a little bit, and he kind of taught 288 00:12:49,679 --> 00:12:52,520 Speaker 6: me about and then, obviously listening to the podcast, starting 289 00:12:52,559 --> 00:12:54,679 Speaker 6: to do a bit more of my own research, and 290 00:12:54,720 --> 00:12:56,680 Speaker 6: I kind of got rid of that stigma and I thought, 291 00:12:56,720 --> 00:12:57,920 Speaker 6: I'll just give it a go. 292 00:12:57,960 --> 00:12:59,800 Speaker 5: I'll just put a little bit into, raise bit into 293 00:13:00,559 --> 00:13:02,960 Speaker 5: and then I built that up and I love it. 294 00:13:03,000 --> 00:13:06,600 Speaker 5: Now I'm really interested in like, yeah, yeah, it's great. 295 00:13:06,920 --> 00:13:08,760 Speaker 4: Oh my gosh, I love it. I feel like raising 296 00:13:08,800 --> 00:13:12,640 Speaker 4: Spaceship kind of like the gateway drug of the investment community, 297 00:13:13,000 --> 00:13:15,400 Speaker 4: because you end up just going all right, well, that 298 00:13:15,480 --> 00:13:17,560 Speaker 4: feels like a little bit less risky, a little bit 299 00:13:17,559 --> 00:13:20,160 Speaker 4: more controlled. I'll give it a crack, and then it's 300 00:13:20,200 --> 00:13:23,320 Speaker 4: the gateway and now you have five different investments. I 301 00:13:23,360 --> 00:13:26,040 Speaker 4: want to know, though, because obviously coming from such a 302 00:13:26,080 --> 00:13:28,600 Speaker 4: mentality where you're like, look, I really thought that investing 303 00:13:28,760 --> 00:13:30,320 Speaker 4: was actually a form of gambling. 304 00:13:31,679 --> 00:13:32,840 Speaker 2: Education is the key here. 305 00:13:33,040 --> 00:13:35,959 Speaker 4: But how did you then start to pick those five investments? 306 00:13:35,960 --> 00:13:39,200 Speaker 4: What made you confident enough to pull the trigger and 307 00:13:39,240 --> 00:13:39,920 Speaker 4: put money in it? 308 00:13:39,920 --> 00:13:41,640 Speaker 2: Because a grand that's a lot of money. 309 00:13:41,720 --> 00:13:44,840 Speaker 5: It is a lot actually for the blue chip ones. 310 00:13:45,120 --> 00:13:48,679 Speaker 6: I just knew companies that I've heard of a lot 311 00:13:49,080 --> 00:13:52,120 Speaker 6: that I felt were quite stable, did some research into 312 00:13:52,160 --> 00:13:54,960 Speaker 6: it from the investment side, and I felt comfortable with them. 313 00:13:55,480 --> 00:13:57,160 Speaker 6: For the ones that were on a little bit more 314 00:13:57,200 --> 00:13:59,560 Speaker 6: of the riskier side, there's a couple people at my 315 00:13:59,600 --> 00:14:03,240 Speaker 6: work that really really into the share market and they 316 00:14:03,320 --> 00:14:05,560 Speaker 6: kind of throw around tips between each other, and this 317 00:14:05,600 --> 00:14:06,079 Speaker 6: is when. 318 00:14:05,960 --> 00:14:08,920 Speaker 4: You're like, let me in. I want to hear your tips. 319 00:14:08,800 --> 00:14:10,959 Speaker 6: Exactly that if I wasn't telling anyone that I was 320 00:14:11,040 --> 00:14:12,880 Speaker 6: kind of into it at the moment because I've had 321 00:14:12,920 --> 00:14:14,760 Speaker 6: that little bit of a stigma, so I was a 322 00:14:14,840 --> 00:14:16,760 Speaker 6: bit worried. So I was just like, oh, I'll just 323 00:14:16,840 --> 00:14:19,240 Speaker 6: listen and see what happens. And then they were talking 324 00:14:19,240 --> 00:14:20,720 Speaker 6: about it, and one day I was like, I'm just 325 00:14:20,720 --> 00:14:24,400 Speaker 6: gonna try and if I lose money, I lose money. 326 00:14:24,560 --> 00:14:26,920 Speaker 6: If I gain money, I gain money. I just want 327 00:14:26,960 --> 00:14:28,640 Speaker 6: to give it a go. At this point, I had 328 00:14:28,640 --> 00:14:32,000 Speaker 6: my blue chips. I was feeling confident. Obviously listening to 329 00:14:32,040 --> 00:14:35,000 Speaker 6: the podcast, I understand that it's going to be up 330 00:14:35,000 --> 00:14:37,040 Speaker 6: and down. It's not going to just keep being up 331 00:14:37,280 --> 00:14:39,160 Speaker 6: for the duration that I have it, and I don't 332 00:14:39,200 --> 00:14:43,120 Speaker 6: plan on taking anything out anytime soon. So I gave 333 00:14:43,120 --> 00:14:45,520 Speaker 6: it a go, and one of them worked a bit 334 00:14:45,560 --> 00:14:48,600 Speaker 6: more than the other. But I feel really confident now 335 00:14:48,640 --> 00:14:51,280 Speaker 6: that it's not gambling. But I feel really confident now, 336 00:14:51,520 --> 00:14:53,440 Speaker 6: you know, looking into other stops and going, oh, I 337 00:14:53,520 --> 00:14:55,200 Speaker 6: might put a little bit on that and just see 338 00:14:55,240 --> 00:14:56,960 Speaker 6: what happens. Or this is a bit more of a 339 00:14:56,960 --> 00:14:59,040 Speaker 6: safer option, I'll put a bit more money into that 340 00:14:59,400 --> 00:15:01,400 Speaker 6: and you can play flip my mentality there. 341 00:15:01,760 --> 00:15:02,400 Speaker 2: I love it. 342 00:15:02,440 --> 00:15:04,920 Speaker 4: I think it's so good because so many people do 343 00:15:05,000 --> 00:15:08,240 Speaker 4: feel that way. And then it's really about education and 344 00:15:08,280 --> 00:15:11,920 Speaker 4: exposure that makes you understand how it actually all works. 345 00:15:11,960 --> 00:15:14,040 Speaker 4: You go, wait, this is really different. This is actually 346 00:15:14,040 --> 00:15:17,880 Speaker 4: about wealth creation and creating financial freedom. I have another 347 00:15:17,960 --> 00:15:21,280 Speaker 4: question about investing, just because I'm so brvy, so I apologize, 348 00:15:21,320 --> 00:15:24,480 Speaker 4: but I'm not that sorry. When you did decide to 349 00:15:24,480 --> 00:15:26,920 Speaker 4: pull the trie gul, you bought your blue chip stocks first, 350 00:15:27,320 --> 00:15:29,960 Speaker 4: how did you pick a platform to invest on? 351 00:15:30,200 --> 00:15:31,000 Speaker 2: Like, what did you. 352 00:15:31,040 --> 00:15:33,680 Speaker 4: Pick and why did you pick it? And why did 353 00:15:33,760 --> 00:15:35,000 Speaker 4: that make the most sense for you? 354 00:15:35,520 --> 00:15:38,240 Speaker 6: I went with concept, and that's only simply because my 355 00:15:38,280 --> 00:15:41,080 Speaker 6: partner had invested in concept. I didn't really look into 356 00:15:41,240 --> 00:15:45,120 Speaker 6: which platform too much. It's just I knew he was 357 00:15:45,160 --> 00:15:46,720 Speaker 6: with it. I knew a couple of the people from 358 00:15:46,760 --> 00:15:48,320 Speaker 6: work were in it s they were with a couple 359 00:15:48,320 --> 00:15:49,000 Speaker 6: others as well. 360 00:15:49,040 --> 00:15:52,200 Speaker 4: But I just thought, okay, just this works, it makes sense, 361 00:15:52,480 --> 00:15:54,720 Speaker 4: tried and true. Some other people have done it, so 362 00:15:54,760 --> 00:15:55,920 Speaker 4: therefore it can't be that bad. 363 00:15:56,000 --> 00:15:56,080 Speaker 6: No. 364 00:15:56,160 --> 00:15:56,560 Speaker 2: I love that. 365 00:15:56,600 --> 00:15:59,280 Speaker 4: I always ask because there's always a reason why someone 366 00:15:59,320 --> 00:16:00,000 Speaker 4: picked their platform. 367 00:16:00,280 --> 00:16:01,560 Speaker 2: It's not oh v yes. 368 00:16:01,640 --> 00:16:03,720 Speaker 4: So I googled it and I looked at this chart 369 00:16:03,720 --> 00:16:05,320 Speaker 4: and it compared it, and so I picked off that 370 00:16:05,360 --> 00:16:07,800 Speaker 4: there's always like some other reason that people were like, 371 00:16:07,960 --> 00:16:10,560 Speaker 4: Oh no, I felt comfortable with this, and I just 372 00:16:10,640 --> 00:16:11,360 Speaker 4: love hearing it. 373 00:16:11,920 --> 00:16:14,320 Speaker 6: Yeah, that bank with Commonwealth as well. So I was 374 00:16:14,400 --> 00:16:16,520 Speaker 6: kind of like, oh, okay, that's fine. 375 00:16:16,360 --> 00:16:17,440 Speaker 2: Yeare easy, all right. 376 00:16:17,480 --> 00:16:20,440 Speaker 4: I want to know now about debt. You mentioned before 377 00:16:20,480 --> 00:16:22,840 Speaker 4: that you purchased your home for six hundred and fifty 378 00:16:22,880 --> 00:16:25,720 Speaker 4: thousand dollars, but I want to know what debt are 379 00:16:25,800 --> 00:16:28,000 Speaker 4: you in, how much and how does it break down? 380 00:16:28,520 --> 00:16:28,720 Speaker 5: Yep. 381 00:16:28,840 --> 00:16:31,120 Speaker 6: So I am very proud to say that I don't 382 00:16:31,120 --> 00:16:34,360 Speaker 6: have any bad debt at all, very sexy. I had 383 00:16:34,360 --> 00:16:37,000 Speaker 6: my year and a half of my university degree that 384 00:16:37,000 --> 00:16:40,280 Speaker 6: I started but didn't end up finishing because I absolutely 385 00:16:40,280 --> 00:16:43,640 Speaker 6: hated it. I paid off that Hex's debt that was 386 00:16:43,680 --> 00:16:45,960 Speaker 6: kind of my main financial goal before the end of 387 00:16:45,960 --> 00:16:48,640 Speaker 6: financial You just gone because I understand it. It was going 388 00:16:48,720 --> 00:16:51,320 Speaker 6: up for seven percent with inflation. I was like, I 389 00:16:51,360 --> 00:16:53,000 Speaker 6: do not want to keep paying this off. 390 00:16:53,120 --> 00:16:55,880 Speaker 4: So you're here telling me like, heyve twenty four and 391 00:16:56,080 --> 00:16:59,120 Speaker 4: six figures have no Hex debt. You also have a 392 00:16:59,160 --> 00:17:01,720 Speaker 4: mortgage paying for my renovations. 393 00:17:01,280 --> 00:17:04,320 Speaker 2: Going to Europe. I love this. I'm obsessed. 394 00:17:05,520 --> 00:17:07,680 Speaker 6: Yeah, I think sometimes I think you for myself enough credit. 395 00:17:07,760 --> 00:17:09,560 Speaker 6: I get a bit of imposter syndrome sometimes. 396 00:17:09,600 --> 00:17:12,320 Speaker 4: So I'm here to be your like official personal hype girl. 397 00:17:12,359 --> 00:17:14,560 Speaker 4: I'm like, get it, COI in, this is the best ever. 398 00:17:14,760 --> 00:17:16,920 Speaker 6: I just struggle to kind of like it sounds great 399 00:17:16,920 --> 00:17:20,040 Speaker 6: in my head, but it doesn't. It does feel good. 400 00:17:20,119 --> 00:17:22,439 Speaker 6: I don't know, it's hard to explain. I guess I liked. 401 00:17:22,440 --> 00:17:24,920 Speaker 6: I just feel like I have imposter syndrome sometimes be like, oh, yeah, 402 00:17:25,320 --> 00:17:27,280 Speaker 6: it's good, but you know, I'm sure I could be 403 00:17:27,320 --> 00:17:28,000 Speaker 6: doing more of this. 404 00:17:28,200 --> 00:17:31,760 Speaker 4: We all think that though, right the grass is always 405 00:17:31,840 --> 00:17:35,040 Speaker 4: greener on the other side, and impostera syndrome is something 406 00:17:35,080 --> 00:17:37,800 Speaker 4: I can definitely relate to because I get it all 407 00:17:37,840 --> 00:17:39,600 Speaker 4: the time, and it's like the dumbest thing in the 408 00:17:39,800 --> 00:17:43,439 Speaker 4: entire world, because like, I know what I've done, Like 409 00:17:43,520 --> 00:17:45,760 Speaker 4: I know that I'm a good person doing good things. 410 00:17:45,760 --> 00:17:47,480 Speaker 4: At the end of the day, that's all that matters. 411 00:17:47,520 --> 00:17:49,840 Speaker 4: It doesn't matter what I've achieved or what I haven't achieved. 412 00:17:49,840 --> 00:17:51,200 Speaker 4: I look at it and I go, I'm a good 413 00:17:51,200 --> 00:17:53,240 Speaker 4: person doing good things. No one is actually going to 414 00:17:53,320 --> 00:17:55,639 Speaker 4: come for me and kick me out and be like 415 00:17:55,680 --> 00:17:57,760 Speaker 4: you don't know what you're talking about, Like, you know, 416 00:17:58,200 --> 00:18:01,080 Speaker 4: get out, you're not a good person. But it's something 417 00:18:01,119 --> 00:18:04,240 Speaker 4: that I think we should actually talk a lot more about, 418 00:18:04,600 --> 00:18:06,840 Speaker 4: because it doesn't matter whether it's your career or whether 419 00:18:06,880 --> 00:18:09,240 Speaker 4: it's your investing journey or you've bought your first house. 420 00:18:09,600 --> 00:18:12,240 Speaker 4: Like how many times do we just gaslight ourselves into 421 00:18:12,240 --> 00:18:14,520 Speaker 4: thinking it's not good enough. You're like, Oh, I bought 422 00:18:14,520 --> 00:18:16,680 Speaker 4: my first house, but I live in it. I don't 423 00:18:16,720 --> 00:18:19,720 Speaker 4: have an investment property. You're like, wait, what, Like where's 424 00:18:19,720 --> 00:18:21,840 Speaker 4: this mentality coming from? Or you look at it and 425 00:18:21,880 --> 00:18:24,880 Speaker 4: you go started investing. You know, I've really thought about this. 426 00:18:25,200 --> 00:18:28,160 Speaker 4: I have, you know, my blue chip stocks, I have rays, 427 00:18:28,200 --> 00:18:30,720 Speaker 4: I have spaceship. I'm actually doing a really good job. 428 00:18:30,880 --> 00:18:33,320 Speaker 4: It's only eight grand though, that's not very good. Like 429 00:18:33,520 --> 00:18:35,800 Speaker 4: why do we do this to ourselves? 430 00:18:36,200 --> 00:18:38,280 Speaker 5: I know, I have no idea why. 431 00:18:38,359 --> 00:18:40,960 Speaker 6: And to be honest, I think it's as like majority 432 00:18:40,960 --> 00:18:42,440 Speaker 6: of female thing as well. 433 00:18:42,359 --> 00:18:45,119 Speaker 2: Oh yeah, it's not a male thing one hundred percent. 434 00:18:45,760 --> 00:18:47,919 Speaker 6: Like everyone I speak to be like, oh, yeah, you know, 435 00:18:48,040 --> 00:18:50,040 Speaker 6: this is so great about me, This is so great 436 00:18:50,040 --> 00:18:53,480 Speaker 6: about me people at work, and I'm just sitting there like, oh. 437 00:18:53,040 --> 00:18:56,480 Speaker 4: Yeah, I guess no, absolutely not. We need to start 438 00:18:56,520 --> 00:18:59,120 Speaker 4: talking to ourselves as though we're our own best friends, 439 00:18:59,359 --> 00:19:01,719 Speaker 4: because like I would never talk to my friends or 440 00:19:01,800 --> 00:19:04,159 Speaker 4: anybody like, oh my gosh, yeah, you're right, that's not 441 00:19:04,240 --> 00:19:07,440 Speaker 4: that good. Like I'm here going, holy moly, you're twenty four. 442 00:19:07,520 --> 00:19:09,840 Speaker 4: You've done all of this good stuff, Like talk to 443 00:19:09,880 --> 00:19:12,720 Speaker 4: yourself that way. Just go, oh, what would Victoria say 444 00:19:12,720 --> 00:19:14,600 Speaker 4: to be? And then say that because that's going to 445 00:19:14,640 --> 00:19:15,680 Speaker 4: put you in a better position. 446 00:19:16,160 --> 00:19:18,119 Speaker 5: Yeah, okay, that's my new goal. That's what I'm going 447 00:19:18,200 --> 00:19:18,840 Speaker 5: to do all the time. 448 00:19:18,880 --> 00:19:20,360 Speaker 2: Now, all right. 449 00:19:20,400 --> 00:19:22,919 Speaker 4: Earlier in the episode, you mentioned that you think that 450 00:19:23,000 --> 00:19:25,440 Speaker 4: your worst money habit is that you, you know, earn a 451 00:19:25,480 --> 00:19:27,760 Speaker 4: lot of money, but you're not really sure where it's going. 452 00:19:28,359 --> 00:19:30,439 Speaker 4: Let's talk a bit more about that, but first I 453 00:19:30,480 --> 00:19:32,760 Speaker 4: want to know what is your best money habit. 454 00:19:32,840 --> 00:19:33,800 Speaker 2: Do you think. 455 00:19:33,680 --> 00:19:35,720 Speaker 5: I am a good saver? 456 00:19:36,080 --> 00:19:39,440 Speaker 6: Like, if I have a goal, I will absolutely work 457 00:19:39,520 --> 00:19:42,080 Speaker 6: so hard smash it out, and once my money is 458 00:19:42,119 --> 00:19:44,720 Speaker 6: in that savings account, I will not touch it like 459 00:19:44,920 --> 00:19:46,720 Speaker 6: I will starve and I will not touch it like 460 00:19:46,760 --> 00:19:49,399 Speaker 6: I've got my emergency account, which is good, but I 461 00:19:49,400 --> 00:19:52,959 Speaker 6: will never ever ever touch it until obviously I've achieved 462 00:19:53,000 --> 00:19:55,600 Speaker 6: that going and paying for it. So I'd say savings 463 00:19:55,600 --> 00:19:57,320 Speaker 6: are really good money habit for me. 464 00:19:57,600 --> 00:19:58,040 Speaker 2: I love that. 465 00:19:58,200 --> 00:20:00,520 Speaker 4: I think that that's really clear. Tell me a little 466 00:20:00,560 --> 00:20:03,800 Speaker 4: bit more about this worst money habit. You said it 467 00:20:03,960 --> 00:20:06,840 Speaker 4: was earning money, you're not really sure where it's going 468 00:20:06,960 --> 00:20:09,320 Speaker 4: or what it's doing, but you're good at saving. 469 00:20:09,359 --> 00:20:10,200 Speaker 2: How does that work? 470 00:20:10,280 --> 00:20:12,359 Speaker 6: What I'm doing at the moment or when I was 471 00:20:12,400 --> 00:20:14,639 Speaker 6: saving kind of for my bigger money goals is I 472 00:20:14,680 --> 00:20:18,040 Speaker 6: would just put in a figure out when I want 473 00:20:18,080 --> 00:20:20,720 Speaker 6: to achieve this goal by kind of break it down 474 00:20:20,880 --> 00:20:22,560 Speaker 6: in months as to how long it would take. Me, 475 00:20:22,680 --> 00:20:24,200 Speaker 6: you know, when I want to do it, how much 476 00:20:24,240 --> 00:20:27,000 Speaker 6: it'll cost me, and kind of figure out the monthly 477 00:20:27,000 --> 00:20:28,960 Speaker 6: amount that I would need to put into my savings 478 00:20:29,440 --> 00:20:31,119 Speaker 6: and then I would just do that and I just 479 00:20:31,160 --> 00:20:32,800 Speaker 6: put that in and the rest of the money would 480 00:20:32,840 --> 00:20:35,399 Speaker 6: be between my other accounts. I have an emergency account, 481 00:20:35,440 --> 00:20:38,399 Speaker 6: which is good, but my other accounts that kind of 482 00:20:38,440 --> 00:20:40,760 Speaker 6: just sit there and I'll just you know, once one 483 00:20:40,800 --> 00:20:42,520 Speaker 6: goes low, I'll keep topping it up with the other. 484 00:20:42,760 --> 00:20:44,840 Speaker 5: But there's no thought actually behind. 485 00:20:44,520 --> 00:20:47,840 Speaker 6: It, and I'll just kind of like, oh yeah, I'll 486 00:20:47,920 --> 00:20:51,600 Speaker 6: food shopping, not thinking about it, spipe my card. I 487 00:20:51,600 --> 00:20:53,760 Speaker 6: don't go shopping much, but if I did, you know, 488 00:20:54,080 --> 00:20:56,600 Speaker 6: I look at the price and if I can afford it, 489 00:20:56,640 --> 00:20:57,560 Speaker 6: I'll just swipe my cards. 490 00:20:57,560 --> 00:20:58,880 Speaker 5: Like, I don't really have much. 491 00:20:59,720 --> 00:21:03,440 Speaker 6: Thought process behind you know, this is my budget for food, 492 00:21:03,440 --> 00:21:05,679 Speaker 6: this is my budget for eating out, this is my 493 00:21:05,760 --> 00:21:08,879 Speaker 6: budget for absolutely anything. Like I don't have that thought 494 00:21:08,960 --> 00:21:11,760 Speaker 6: process behind it, which I really want to get, Like 495 00:21:11,760 --> 00:21:13,240 Speaker 6: I want to make a budget. I want to be 496 00:21:13,320 --> 00:21:16,080 Speaker 6: so organized in that space. I've just I've tried in 497 00:21:16,119 --> 00:21:18,359 Speaker 6: the past, like a few years ago, and I just 498 00:21:18,440 --> 00:21:20,840 Speaker 6: had no success at all. And I think that was 499 00:21:21,280 --> 00:21:25,280 Speaker 6: I was younger, obviously, but I just I don't know why. 500 00:21:25,400 --> 00:21:26,840 Speaker 6: I've just I really want to get there. 501 00:21:27,000 --> 00:21:29,520 Speaker 4: I feel like that's really relatable though, because I look 502 00:21:29,560 --> 00:21:32,439 Speaker 4: at it and go, you know, everyone budgets in a 503 00:21:32,480 --> 00:21:36,000 Speaker 4: different way, Like budgeting means something different to absolutely everybody. 504 00:21:36,080 --> 00:21:38,800 Speaker 4: And from my perspective, looking at you know you from 505 00:21:38,800 --> 00:21:41,760 Speaker 4: the outside in and having had this really beautiful conversation, 506 00:21:41,840 --> 00:21:44,840 Speaker 4: I go, well, does she really need a strict budget? 507 00:21:44,960 --> 00:21:47,840 Speaker 4: Like she's achieved the goal of buying her house, she's investing, 508 00:21:47,840 --> 00:21:50,640 Speaker 4: she's doing all of these things. What do you think 509 00:21:50,680 --> 00:21:53,879 Speaker 4: you'd achieve if you had a budget set in place 510 00:21:53,960 --> 00:21:55,440 Speaker 4: and were more organized. 511 00:21:55,960 --> 00:21:58,560 Speaker 6: I think it would be good for my saving habits 512 00:21:58,600 --> 00:22:00,920 Speaker 6: because I think I could probably say more or put 513 00:22:00,960 --> 00:22:03,679 Speaker 6: more money towards a mortgage, or more money towards, you know, 514 00:22:03,720 --> 00:22:07,840 Speaker 6: a holiday in the future, rather than not thinking about 515 00:22:07,920 --> 00:22:09,040 Speaker 6: and not having that structure. 516 00:22:09,400 --> 00:22:11,000 Speaker 5: A bit of control would be nice, and. 517 00:22:10,960 --> 00:22:14,160 Speaker 6: I don't feel like I have that control over what's 518 00:22:14,200 --> 00:22:15,800 Speaker 6: coming in what's going out. 519 00:22:15,960 --> 00:22:17,880 Speaker 2: Now You've got a mortgage is important too. 520 00:22:18,160 --> 00:22:21,639 Speaker 6: Yeah, And I'm such an organized person and this is 521 00:22:21,680 --> 00:22:22,960 Speaker 6: not on brand with what I'm like. 522 00:22:23,359 --> 00:22:26,880 Speaker 4: This doesn't suit the vibe like this doesn't master. 523 00:22:26,560 --> 00:22:27,160 Speaker 2: The vibe check. 524 00:22:27,160 --> 00:22:27,200 Speaker 5: No. 525 00:22:27,320 --> 00:22:29,719 Speaker 4: I love that, and I think it's important because we 526 00:22:29,760 --> 00:22:32,080 Speaker 4: want every dollar that comes into our account to be 527 00:22:32,119 --> 00:22:34,440 Speaker 4: working as hard as we do for it, and sometimes 528 00:22:34,440 --> 00:22:36,560 Speaker 4: if we don't have enough clarity or structure, it's just 529 00:22:36,600 --> 00:22:38,879 Speaker 4: not It just comes in and it just does whatever 530 00:22:38,920 --> 00:22:42,359 Speaker 4: it needs to do, but it's not working hard. I 531 00:22:42,440 --> 00:22:44,199 Speaker 4: just have so many questions about this because I just 532 00:22:44,200 --> 00:22:46,520 Speaker 4: think it's so relatable. I want to ask another one 533 00:22:46,560 --> 00:22:47,679 Speaker 4: about the budgeting aspect. 534 00:22:47,760 --> 00:22:48,560 Speaker 2: You said you tried a. 535 00:22:48,560 --> 00:22:51,080 Speaker 4: Couple of years ago and it didn't work. What did 536 00:22:51,160 --> 00:22:53,280 Speaker 4: you try and why do you think it didn't work? 537 00:22:53,760 --> 00:22:57,479 Speaker 6: So my cousin is like the Queen of budgeting. She 538 00:22:58,080 --> 00:23:01,440 Speaker 6: is down to the scent, absolutely crazy. I love it 539 00:23:01,560 --> 00:23:04,000 Speaker 6: really like, Okay, can I sit down with you, can 540 00:23:04,040 --> 00:23:05,120 Speaker 6: you show me how to do it? 541 00:23:05,560 --> 00:23:06,360 Speaker 5: Run me through it? 542 00:23:06,560 --> 00:23:09,119 Speaker 6: And I did it for a few months and I 543 00:23:09,240 --> 00:23:12,439 Speaker 6: just completely got not couldn't be bothered, but I just 544 00:23:12,640 --> 00:23:15,199 Speaker 6: lost that want to do it. And I guess that 545 00:23:15,600 --> 00:23:18,680 Speaker 6: being stripped with myself for doing it, and then since 546 00:23:18,680 --> 00:23:21,960 Speaker 6: then I just haven't really tried again. So I think 547 00:23:22,000 --> 00:23:24,439 Speaker 6: also how she kind of had it laid out, she 548 00:23:24,480 --> 00:23:27,119 Speaker 6: had it on Excel spreadsheets, which was great, but I 549 00:23:27,160 --> 00:23:30,880 Speaker 6: think it really suited her. Yeah, and obviously she's only 550 00:23:30,920 --> 00:23:33,760 Speaker 6: thinking from her, whereas for me, I tried making it 551 00:23:33,840 --> 00:23:35,720 Speaker 6: better for me and making it a bit. 552 00:23:35,600 --> 00:23:38,040 Speaker 5: Prettier and things like that. So then I want to 553 00:23:38,080 --> 00:23:40,639 Speaker 5: do it, but it just didn't stick. 554 00:23:40,920 --> 00:23:43,520 Speaker 4: I need to know when you did it on Excel spreadsheets. 555 00:23:43,600 --> 00:23:46,120 Speaker 4: Did it then become a super manual process, like every 556 00:23:46,119 --> 00:23:47,679 Speaker 4: single week or a month, you'd have to go in 557 00:23:47,720 --> 00:23:50,160 Speaker 4: and actually like look at the spreadsheet and then implement 558 00:23:50,200 --> 00:23:52,679 Speaker 4: that in your banking system and then switch things around. 559 00:23:52,760 --> 00:23:54,960 Speaker 4: So it was like a lot of work or was 560 00:23:55,000 --> 00:23:57,359 Speaker 4: it something where you just had your finger on the 561 00:23:57,480 --> 00:23:58,560 Speaker 4: pulse every month? 562 00:23:58,960 --> 00:24:01,760 Speaker 6: Yeah, it was definitely on the manual side, and especially 563 00:24:01,760 --> 00:24:04,400 Speaker 6: because I'm not an Excel with in the slightest, so 564 00:24:04,840 --> 00:24:06,720 Speaker 6: I had one notes for how to do things and 565 00:24:06,760 --> 00:24:08,640 Speaker 6: how to add your formulas and things like that. 566 00:24:08,760 --> 00:24:10,160 Speaker 5: But then I. 567 00:24:10,119 --> 00:24:12,520 Speaker 6: Would just slip my mind or I'd have to google 568 00:24:12,640 --> 00:24:14,360 Speaker 6: each month to make sure I'm doing the right thing, 569 00:24:14,400 --> 00:24:16,639 Speaker 6: and it just got way too manual for something that 570 00:24:16,680 --> 00:24:18,760 Speaker 6: should just be a quick numbering numbering. 571 00:24:18,960 --> 00:24:21,760 Speaker 4: I totally get it, Like, obviously you're not in this situation, 572 00:24:21,840 --> 00:24:24,560 Speaker 4: but I have ADHD, so if it becomes a manual process, 573 00:24:24,600 --> 00:24:25,960 Speaker 4: it's not happening. 574 00:24:26,119 --> 00:24:28,040 Speaker 2: Like I won't do it. It has to be taken 575 00:24:28,040 --> 00:24:28,320 Speaker 2: off me. 576 00:24:28,560 --> 00:24:30,760 Speaker 4: I don't often do this, but I'm going to gift 577 00:24:30,760 --> 00:24:32,520 Speaker 4: you my budget in cash Flow master Class or the 578 00:24:32,560 --> 00:24:36,239 Speaker 4: New Money Masterclass, because it is all automated and if 579 00:24:36,280 --> 00:24:39,080 Speaker 4: you're not a spreadsheet girly. I was explaining it to 580 00:24:39,080 --> 00:24:40,880 Speaker 4: someone the other day and they were like, I don't 581 00:24:40,920 --> 00:24:43,280 Speaker 4: get Excel or you know, Google sheets, fee like it 582 00:24:43,320 --> 00:24:45,040 Speaker 4: doesn't work. I'm like, it's actually kind of like a 583 00:24:45,080 --> 00:24:48,439 Speaker 4: software inside Excel that I've built because I am a 584 00:24:48,520 --> 00:24:51,639 Speaker 4: spreadsheet girly and I am a nerd. But what you 585 00:24:51,680 --> 00:24:53,280 Speaker 4: do is you put all of your budget in and 586 00:24:53,320 --> 00:24:55,240 Speaker 4: then it tells you what you need to automate in 587 00:24:55,240 --> 00:24:57,720 Speaker 4: your banking system. So you just set up direct debits 588 00:24:58,119 --> 00:25:02,080 Speaker 4: and yeah, you just re reflect your budget in your 589 00:25:02,119 --> 00:25:04,080 Speaker 4: direct debits, and then your job is to just like 590 00:25:04,200 --> 00:25:06,800 Speaker 4: check in every month, make sure that you know if 591 00:25:06,800 --> 00:25:09,240 Speaker 4: there's a new expense that you forgot about that's included. 592 00:25:09,280 --> 00:25:12,520 Speaker 4: But like that's the extent of the budgeting, if that 593 00:25:12,560 --> 00:25:14,600 Speaker 4: makes sense. So I can't wait to hear what you 594 00:25:14,640 --> 00:25:16,320 Speaker 4: think of it. Because I think it's going to really 595 00:25:16,359 --> 00:25:17,000 Speaker 4: really work. 596 00:25:17,400 --> 00:25:18,200 Speaker 5: I think it'll be. 597 00:25:18,200 --> 00:25:21,080 Speaker 4: So much No, no, no, no, I just think after this conversation, 598 00:25:21,200 --> 00:25:23,159 Speaker 4: I'm like, this is gonna work so well for you. 599 00:25:23,320 --> 00:25:24,480 Speaker 2: I'm going to give it to you. 600 00:25:24,720 --> 00:25:27,200 Speaker 4: I'll also pop a cheeky little discount in the show 601 00:25:27,200 --> 00:25:30,040 Speaker 4: notes for anyone who wants to join as well, because obviously, 602 00:25:30,080 --> 00:25:32,199 Speaker 4: if I'm talking about it, you might go they like, 603 00:25:32,280 --> 00:25:35,919 Speaker 4: what about us? I just think it'll work so well, 604 00:25:36,040 --> 00:25:37,800 Speaker 4: especially because I was like, oh, like, why I didn't 605 00:25:37,800 --> 00:25:39,280 Speaker 4: it work? And you can like share it with your cousin. 606 00:25:39,359 --> 00:25:41,200 Speaker 4: I'll allow that. I think that's fair because I think 607 00:25:41,240 --> 00:25:43,600 Speaker 4: she'll be really impressed. If she's a spreadsheet girl, they're 608 00:25:43,600 --> 00:25:47,720 Speaker 4: like me. But last question I've got for you. Obviously, 609 00:25:47,720 --> 00:25:49,840 Speaker 4: you said that your money habits are a B plus 610 00:25:50,080 --> 00:25:52,120 Speaker 4: and you know you really want to work on your budgeting, 611 00:25:52,160 --> 00:25:55,760 Speaker 4: but from my perspective, you're already killing it. After this conversation. 612 00:25:55,840 --> 00:25:58,280 Speaker 4: Do you think you're still a B plus? And if so, 613 00:25:58,359 --> 00:26:01,600 Speaker 4: that's fine, but if not, like, why have you changed? 614 00:26:01,880 --> 00:26:04,040 Speaker 4: But also what could you do to get to that 615 00:26:04,160 --> 00:26:05,080 Speaker 4: A plus? 616 00:26:05,359 --> 00:26:06,640 Speaker 2: I guess credit. 617 00:26:06,680 --> 00:26:09,800 Speaker 5: I would maybe shift myself up to an A minus. 618 00:26:10,080 --> 00:26:11,200 Speaker 2: Oh I love this. 619 00:26:11,760 --> 00:26:13,840 Speaker 6: Yeah, I think, like you said, I just need to 620 00:26:13,840 --> 00:26:16,119 Speaker 6: give myself a bit more credit and go. You know, 621 00:26:16,160 --> 00:26:18,480 Speaker 6: even though I feel like I can be doing more 622 00:26:18,560 --> 00:26:20,360 Speaker 6: to just sit back and reflect and go. 623 00:26:20,480 --> 00:26:22,280 Speaker 5: But do you know what I've done so well so far? 624 00:26:22,600 --> 00:26:23,359 Speaker 2: One hundred percent. 625 00:26:23,640 --> 00:26:26,040 Speaker 6: Yeah, Like, I'm proud of what I've achieved, and I 626 00:26:26,040 --> 00:26:27,800 Speaker 6: guess I need to think about that a bit more. 627 00:26:28,119 --> 00:26:30,560 Speaker 6: But to get to that A plus, I would say 628 00:26:30,920 --> 00:26:33,480 Speaker 6: the budget side of things would definitely give me a 629 00:26:33,480 --> 00:26:36,520 Speaker 6: bit more control, So that would one hundred percent assist 630 00:26:36,600 --> 00:26:38,840 Speaker 6: me in getting to that A plus level. And then 631 00:26:38,920 --> 00:26:41,919 Speaker 6: also I'd like to continue to add to my investments 632 00:26:41,920 --> 00:26:44,800 Speaker 6: and kind of build that portfolio so that hopefully one 633 00:26:44,880 --> 00:26:47,639 Speaker 6: day I can be financially free or as close to 634 00:26:47,680 --> 00:26:48,440 Speaker 6: it as possible. 635 00:26:48,560 --> 00:26:49,000 Speaker 2: Adore. 636 00:26:49,080 --> 00:26:51,320 Speaker 4: Oh my gosh, I wish we had more time to chat, 637 00:26:51,320 --> 00:26:54,040 Speaker 4: but unfortunately that is all we have time for today. 638 00:26:54,160 --> 00:26:56,520 Speaker 4: So Money Doters, thank you for joining us. Thank you 639 00:26:56,600 --> 00:26:59,199 Speaker 4: for this chat. I feel like I'm now your personal 640 00:26:59,240 --> 00:27:02,399 Speaker 4: hype girl, as I am for absolutely everybody in our community. 641 00:27:02,520 --> 00:27:05,440 Speaker 4: But I have adored this. Thank you so much. 642 00:27:05,520 --> 00:27:07,959 Speaker 6: Thank you so much. Be so nice to finally meet ya. 643 00:27:08,000 --> 00:27:09,200 Speaker 6: I was so looking forward to this. 644 00:27:09,240 --> 00:27:10,680 Speaker 5: Oh my gosh, I love that so much. 645 00:27:10,760 --> 00:27:12,400 Speaker 2: We like besties who hadn't met yet. 646 00:27:13,400 --> 00:27:16,879 Speaker 5: Maybe one day next time you come to Western Australia. 647 00:27:16,400 --> 00:27:18,960 Speaker 2: Will oh I mean, I mean I'm in. 648 00:27:25,440 --> 00:27:28,000 Speaker 3: The advice shared on She's on the Money is general 649 00:27:28,040 --> 00:27:31,920 Speaker 3: in nature and does not consider your individual circumstances. She's 650 00:27:31,960 --> 00:27:35,399 Speaker 3: on the Money exists purely for educational purposes and should 651 00:27:35,440 --> 00:27:38,600 Speaker 3: not be relied upon to make an investment or financial decision. 652 00:27:39,000 --> 00:27:41,240 Speaker 2: If you do choose to buy a financial. 653 00:27:40,800 --> 00:27:44,760 Speaker 3: Product, read the PDS TMD and obtain appropriate financial advice 654 00:27:44,840 --> 00:27:48,399 Speaker 3: tailored towards your needs. Victoria Divine and She's on the 655 00:27:48,440 --> 00:27:53,240 Speaker 3: Money are authorized representatives of money. Sheper pty Ltd ABN 656 00:27:53,480 --> 00:27:56,280 Speaker 3: three two one IS six four nine two seven seven 657 00:27:56,400 --> 00:27:59,800 Speaker 3: zero eight AFSL four five one two eight nine 658 00:28:05,240 --> 00:28:05,560 Speaker 6: Work