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Speaker 1: Hello.

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Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the

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Speaker 2: Order Kerney Whoalbury and a waddery woman. And before we

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Speaker 2: get started on She's on the Money podcast, I would

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Speaker 2: like to acknowledge the traditional custodians of the land of

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Speaker 2: which this podcast is recorded on a wondery country, acknowledging

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Speaker 2: the elders, the ancestors and the next generation coming through

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Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and

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Speaker 2: the storytelling of you to make a difference for today

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Speaker 2: and lasting impact for tomorrow.

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Speaker 1: Let's get into it. She's on the Money, She's on

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Speaker 1: the Money. Before I read out this money, Darry, I

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Speaker 1: just want to give you guys a bit of a

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Speaker 1: content warning. This week's episode does discuss in a bit

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Speaker 1: more detail than usual domestic abuse, and I think it's

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Speaker 1: really important to have that conversation in saying that if

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Speaker 1: you aren't ready for that conversation, you're not in the

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Speaker 1: mood or it's not a topic that you would like

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Speaker 1: to broach today. We have so many episodes backlogged for

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Speaker 1: you that you can go back and listen to. I

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Speaker 1: promise there's literally one hundreds so just stop the recording

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Speaker 1: here and jump onto another episode. But if you're staying one,

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Speaker 1: thank you. I think that this is a beautiful conversation

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Speaker 1: that I've had with our Money direst today. But it's

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Speaker 1: also really worth noting that on average, one woman a

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Speaker 1: week is murdered by her current or former partner, and

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Speaker 1: last year, five six hundred and six women, which averages

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Speaker 1: to fifteen women per day, were hospitalized due to family

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Speaker 1: and domestic violence. One in four women twenty seven percent

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Speaker 1: have experienced violence, emotional abuse, or economic abuse by cohabitating

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Speaker 1: partners since the age of fifteen. So this isn't just

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Speaker 1: a conversation for today, It's a broad conversation that we

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Speaker 1: really need to be having. So here's the message that

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Speaker 1: I got this week. Hi, Victoria. I grew up with

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Speaker 1: a domestic abuser as a father and lived in a

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Speaker 1: refuge with my mum and brothers for eight months. Not

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Speaker 1: only was I the first in my family to ever

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Speaker 1: go to university, I now have a bachelor's and a

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Speaker 1: master's degree and work my absolute dream job as a teacher.

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Speaker 1: I completed my masters while having a baby and would

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Speaker 1: love to tell my story Money.

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Speaker 3: Diarist, what the heck, it sounds really surreal to hear

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Speaker 3: that back. Actually, it sounds like it's not even my story.

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Speaker 3: Like I listen to that and think, wow, that sounds amazing,

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Speaker 3: and then I'm like, oh my gosh, that's me, that's you.

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Speaker 1: That's actually one of my favorite parts of Money Diaries

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Speaker 1: is that moment where I get to read that and

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Speaker 1: nobody else can see it, because obviously we don't video

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Speaker 1: record Money Diaries because that would ruin the anonymity of it. Right, Yeah,

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Speaker 1: I can see you, And it's very wholesome watching people

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Speaker 1: have this story is read back to them because of

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Speaker 1: how they're like, oh wait, that's kind of cool, isn't it.

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Speaker 3: Yeah.

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Speaker 1: I love that moment of reflection where they're like, I'm

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Speaker 1: kind of cool. I know, like I've done some stuff.

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Speaker 1: I've done some things like I actually killed it. Hey.

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Speaker 3: Yeah. I think for me, like, I'm always really hard

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Speaker 3: on myself, and I think, like, you know, what do

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Speaker 3: I have to show for all these years that I've

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Speaker 3: been working. But hearing that back, I think, Wow, like

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Speaker 3: I've accomplished a lot.

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Speaker 1: Yes you have, my friend, let's jump into a diary.

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Speaker 1: I have so many questions for you. But the first

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Speaker 1: one is what would you grade your money habits if

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Speaker 1: I asked you to give them a grade from A

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Speaker 1: through to F.

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Speaker 3: Okay, this was a bit tricky because at the moment,

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Speaker 3: as a teacher, I am doing reports for my students,

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Speaker 3: and the criteria is very set out. What does a

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Speaker 3: C look like? What does a B look like? So

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Speaker 3: I have given myself a B, but I was leading

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Speaker 3: towards a C. But I've decided on a BE.

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Speaker 1: All Right, We'll learn more about that as the episode progresses,

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Speaker 1: But I want to know now, my friend, can you

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Speaker 1: tell me a little bit more about your money story.

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Speaker 3: I grew up mostly with a single mum. After we

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Speaker 3: escaped from domestic violence. It was just myself, my mum,

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Speaker 3: and my two brothers. We lived in a women and

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Speaker 3: children's refuge for about eight months when I was about

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Speaker 3: seven years old, and then after that we moved into

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Speaker 3: kind of government housing where we lived for most of

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Speaker 3: my life. So we spent a long time, I guess,

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Speaker 3: rebuilding our lives. When we escaped that situation, we had

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Speaker 3: absolutely nothing. We had no furniture, we had no clothing.

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Speaker 3: We really only had each other. I really saw money

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Speaker 3: as a privilege, and I guess never really wanted to

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Speaker 3: take advantage of it because I saw how hard my

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Speaker 3: mom worked for it. I've also got some really vivid

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Speaker 3: memories where we would have, say, rented or put an

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Speaker 3: item like a washing machine on finance and then those

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Speaker 3: payments can be made, So those things were I guess

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Speaker 3: taken away. So I've always seen money as a privilege

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Speaker 3: and something that once you have it, you need to

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Speaker 3: really look after it and be careful with it. I

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Speaker 3: guess on the flip side of that, though, my mom

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Speaker 3: she really did give us everything that she could a queen. Absolutely,

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Speaker 3: I never felt like I missed out. She took advantage

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Speaker 3: of things like layby to make sure that we always

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Speaker 3: had what she thought we deserved. You know, at Christmas

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Speaker 3: and birthdays, we even sometimes got things from like charities.

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Speaker 3: But even talking to my mom now as an adult,

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Speaker 3: she always says to me, you know, she always felt

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Speaker 3: really guilty for taking that because she felt like there

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Speaker 3: was other families who needed it so much more than

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Speaker 3: we did. But those things really saved us at that

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Speaker 3: time because without those things, you know, we wouldn't have

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Speaker 3: had school uniforms, we wouldn't have had school supplies, and

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Speaker 3: my Mom did everything she could, but as I got older,

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Speaker 3: I really wanted to start earning my own money, mainly

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Speaker 3: so I could help out and I guess take some

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Speaker 3: of that financial burden off my mom. But I didn't

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Speaker 3: really think about the future. There was no forward planning.

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Speaker 3: It was just I would work, I would save, I

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Speaker 3: would spend, and then I would to repeat that cycle.

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Speaker 3: So I was really lucky in the sense that I

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Speaker 3: got to do a lot of travel in that time.

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Speaker 3: I was able to fund my lifestyle where I was

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Speaker 3: at UNI as well without having to rely on anyone else,

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Speaker 3: obviously with a heck stet to go along with it.

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Speaker 3: But I was also told that, like, credit cards are

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Speaker 3: really bad, and I think that was, I guess a

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Speaker 3: savior for me because I always wanted to stay really

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Speaker 3: clear of it. So I worked all the way through UNI,

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Speaker 3: and then after UNI, I was like, well, I just

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Speaker 3: want to keep working, So that's what I did. And

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Speaker 3: then when I got to my mid twenties, it's just

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Speaker 3: about to turn twenty five, I kind of looked at

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Speaker 3: it and thought, I've been working since I was, you know,

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Speaker 3: thirteen years old, and what do I have. So that's

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Speaker 3: when I decided to make a change. And I said

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Speaker 3: to my now husband that I want to go back

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Speaker 3: to UNI. I want to do something that I'm really

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Speaker 3: passionate about and that's going to set me up financially.

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Speaker 3: And then I found it. I was pregnant. Congrat thank you.

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Speaker 3: So I said to my husband, you know, obviously this

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Speaker 3: is going.

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Speaker 1: To be challenging.

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Speaker 3: Yes, challenging is a word for it. But you know,

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Speaker 3: I said to him, are you still happy for me

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Speaker 3: to go back to UNI? It means going part time

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Speaker 3: even when I returned from Attorney Leaf And he said, absolutely,

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Speaker 3: a supportive king, I love this, absolutely yes. So basically

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Speaker 3: I went back to UNI, and then I had my son,

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Speaker 3: and then when I did go back to work, it

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Speaker 3: was just a couple of days a week while still

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Speaker 3: doing UNI, which was technically full time, and having my

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Speaker 3: son as well.

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Speaker 1: Because he didn't have enough on with a newborn.

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Speaker 3: No. I know, I look back at now and I'm like,

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Speaker 3: how did I do that? I would literally have him

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Speaker 3: asleep on me with my laptop like over him, completing

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Speaker 3: my assignments. And I think about it now and I'm like,

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Speaker 3: how did I even get through that time?

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Speaker 1: But do you look back and go holy heck, I'm

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Speaker 1: so proud of myself.

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Speaker 2: Yeah.

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Speaker 3: I think my graduation day was that day where I

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Speaker 3: was like, wow, you know I made it, you did it. Yeah,

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Speaker 3: because there was times, you know, especially financial, where it

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Speaker 3: was hard. And I said to my husband like, I

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Speaker 3: can defer, you know, I can put a pause on it,

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Speaker 3: and I can go back and work more hours if

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Speaker 3: we need to. But he was really amazing and saying, no,

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Speaker 3: you know, get through it, get it done, and then

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Speaker 3: when we're on the other side of it is when

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Speaker 3: we'll see the benefits.

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Speaker 1: I love it. That's what we want to hear. That's

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Speaker 1: the type of relationship we want a champion, right, Yeah,

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Speaker 1: So tell me a little bit more. I want to

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Speaker 1: be asking pervy details. How old are you now?

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Speaker 3: So I'm just about to turn twenty nine.

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Speaker 1: Twenty nine, and you've achieved all this already, you look

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Speaker 1: very young. But I was like, oh, she has to

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Speaker 1: be in her thirties like now, obviously, no, she has

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Speaker 1: to be where I'm at, Like, no way. And how

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Speaker 1: old were you when you had your bambinie?

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Speaker 3: So he came just before I ten twenty six?

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Speaker 1: Oh my gosh, so.

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Speaker 3: He's three now?

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Speaker 1: Three is such a special age. I feel like they

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Speaker 1: think they're so funny at three.

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Speaker 3: Oh he thinks he's like fourteen.

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Speaker 1: Yeah, it's like three going on thirteen. He's a genius. Yeah, literally,

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Speaker 1: Oh my gosh, all right, is it okay if I

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Speaker 1: peer back to the conversation before we go further in

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Speaker 1: the Money Diary to talk a bit more about domestic violence?

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Speaker 3: Absolutely?

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Speaker 1: I feel like this is a topic that we don't

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Speaker 1: talk about enough. And recently one of my good friends,

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Speaker 1: Moana Hope, opened up on social media about her upbringing

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Speaker 1: and how she went through a very dramatic domestic violence situation.

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Speaker 1: And it's one of those things that you know you

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Speaker 1: mentioned before you were like, we left, I had a

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Speaker 1: domestic abuser as a father. My mom, you know, took

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Speaker 1: us to a refuge and I lived there for eight months.

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Speaker 1: And I know immediately that that's not where the story

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Speaker 1: just ended, right, Like, obviously that might have been the

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Speaker 1: final straw, the final time she left, the final time

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Speaker 1: it worked. But growing up you said you were about seven,

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Speaker 1: was that something that you were super aware of? Was

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Speaker 1: that a shock to you?

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Speaker 2: Like?

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Speaker 1: How long was that process before your mum was like

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Speaker 1: I can't do this? We are absolutely going to move out.

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Speaker 1: We're going to have nothing, but we will have each other,

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Speaker 1: and that's the best thing for my family. Like, how

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Speaker 1: did she make that decision that you're aware of?

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Speaker 3: Good question. So obviously I was quite young. I don't

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Speaker 3: remember a whole lot of it, but as an adult,

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Speaker 3: my mum and I have had a lot more open

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Speaker 3: conversations about it. They were together for ten years and

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Speaker 3: my mom fell pregnant with my brother when she was

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Speaker 3: only seventeen, so she had the kind of mentality that

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Speaker 3: was like, I made my bed, I need to lie

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Speaker 3: in it. So she kind of was like, well, this

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Speaker 3: is what I guess the consequences of my actions is

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Speaker 3: now that I'm stuck in a relationship with this man

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Speaker 3: because he's the father of my children. So it went

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Speaker 3: on for quite a while. I remember leaving more than

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Speaker 3: just the one time. I remember one night in particular,

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Speaker 3: very vividly, which I won't get into the details, but

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Speaker 3: you know, I remember there being police involved, I remember

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Speaker 3: there being other people. I remember us having to just

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Speaker 3: get up and just leave. And then within a matter

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Speaker 3: of days we were doing the same thing again because

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Speaker 3: we had been found. And that happened multiple times before

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Speaker 3: the point that. We then went into police protection and

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Speaker 3: moved into the refuge where we were able to stay

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Speaker 3: for eight months, and luckily we were able to stay

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Speaker 3: in our same state. My mum, that's where she drew

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Speaker 3: the line. She said, you know, I'm not going to

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Speaker 3: leave my family. But we did have to move around

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Speaker 3: a lot before we were able to find that home base. Afterwards,

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Speaker 3: we had to go through a lot of court proceedings.

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Speaker 3: My father actually ended up going to prison, which I

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Speaker 3: guess is a bit of a win because he had

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Speaker 3: some consequences.

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Speaker 1: Massive win, Yeah, because it doesn't often happen. No, exactly,

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Speaker 1: it doesn't often happen, and that's one of the worst parts,

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Speaker 1: Like people get away with this and they need to

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Speaker 1: be held accountable for their actions.

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Speaker 3: Yeah, and you know, it's sad to think that it

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Speaker 3: took ten years of her going through that for it

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Speaker 3: to get to that point. But luckily she had some

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Speaker 3: people championing for her. She had some of our local

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Speaker 3: police who really put the work in for that to

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Speaker 3: support her and to support us as well, so we

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Speaker 3: were able to get that and then once he was

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Speaker 3: in prison, we were able to start I guess, rebuilding

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Speaker 3: our lives and get back to a sense of security.

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Speaker 3: But I still very, very vividly remember the day that

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Speaker 3: I found out that he got out of prison, and

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Speaker 3: I guess the fear that came over me, even as

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Speaker 3: such a small child, because I remembered the amount of

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Speaker 3: times that we had to completely leave our lives behind

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Speaker 3: in hopes of finding something better and it not working out.

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Speaker 1: Yeah, wow, what does that look like? Now, I'm going

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Speaker 1: to draw a grand assumption that you're probably not in

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Speaker 1: contact with your dad.

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Speaker 3: No, absolutely not. So he has reached out to me

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Speaker 3: on Facebook before, and I've just ignored the messages. Usually

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Speaker 3: it's a guilt trip.

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Speaker 1: Now you don't get that privilege, sir.

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Speaker 3: No, you know, I've never even responded or given him

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Speaker 3: the time of day. My brothers, on the other hand,

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Speaker 3: have reached out to him and have spoken to him

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Speaker 3: on occasion. But I've always been really blunt with my

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Speaker 3: brothers and said, my life is not for him to

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Speaker 3: know unless I decide that. So they've been really good

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Speaker 3: at honoring that. So he doesn't know that I have

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Speaker 3: a son. He doesn't know that I'm married, and when

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Speaker 3: I did get married on Facebook, I made sure that

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Speaker 3: I blocked him and all of his family, so they

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Speaker 3: didn't see my change of names, so that I wasn't

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Speaker 3: dragging anyone else into that as well.

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Speaker 1: I love that you protect your family so fiercely, yes,

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Speaker 1: but it also breaks my heart that you have to

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Speaker 1: do that, Like it makes me really sad that that's

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Speaker 1: a necessary step that now, as a twenty nine year

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Speaker 1: old adult, having went through that situation at the age

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Speaker 1: of seven, you're now still having to protect your family

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Speaker 1: from these situations. Are your brothers younger than you?

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Speaker 3: One is older and one is younger?

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Speaker 1: And tell me now about your mind. How's mum? Is

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Speaker 1: she doing well?

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Speaker 2: Like?

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Speaker 1: What does she get up to?

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Speaker 3: Yeah, she's amazing. She's not married, but she's been with

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Speaker 3: her partner for gosh, like fifteen years probably more. Oh,

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Speaker 3: I love this, Yes, And she since had another child,

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Speaker 3: So when I was sixteen, she had another baby. So

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Speaker 3: I've got an even younger brother and he's amazing as well.

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Speaker 3: But she is just, I honestly don't know how to

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Speaker 3: describe it, Like she's thriving. She really is like everything

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Speaker 3: that she went through. Honestly, if you met her, she's

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Speaker 3: the nicest, sweetest, happiest person that you'll ever meet. Because

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Speaker 3: she just sees that she went through all this, but

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Speaker 3: she came out on the other side, and from that,

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Speaker 3: you know, she has these three beautiful children that she

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Speaker 3: loves more than anything in the whole world. And every

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Speaker 3: single time I see her, I feel that love. Every

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Speaker 3: single time I speak to her, I feel that love.

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Speaker 3: And now I'm able to see that love that she

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Speaker 3: gives to my son as well her grandson.

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Speaker 1: Oh, I'm obsessed. I love this. It's so nice to

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Speaker 1: have a conversation with somebody about a circum stance that

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Speaker 1: arguably happened so long ago. Because there are going to

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Speaker 1: be people in our community who are kind of in

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Speaker 1: the midst of this. They might have tried to leave,

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Speaker 1: They might have left a number of times. They might be,

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Speaker 1: you know, in the refuge right now, going does this

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Speaker 1: get any better? I cannot see the light at the

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Speaker 1: end of the tunnel. And now you're telling me about

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Speaker 1: how your mom is thriving and she has a gorgeous partner,

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Speaker 1: and she's had more babies and she's just living her

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Speaker 1: best life. Like, look at the daughter she has. Now

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Speaker 1: she has a grandson. Like all of this stuff that

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Speaker 1: I think a lot of people don't get to see

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Speaker 1: like they don't get to see it in the moment because,

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Speaker 1: as you said before, you leave with literally nothing but

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Speaker 1: each other and now you've rebuilt your lives like Ah,

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Speaker 1: just makes me so happy for you.

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Speaker 3: I know. And she has honestly three kids, even though

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Speaker 3: I'm the only one who went to university, She's got

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Speaker 3: three kids who are successful, who are independent. You know,

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Speaker 3: she can look back and think that she did a

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Speaker 3: really good job with.

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Speaker 1: Them, Adore, And she did. She did the best she

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Speaker 1: could with everything that she had.

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Speaker 3: She did absolutely.

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Speaker 1: Ah. All right, I want to know a little bit

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Speaker 1: more about your money story, so let's jump back into

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Speaker 1: the questions. Thank you for sharing that though, I think

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Speaker 1: it's really really powerful. Tell me more. In your letter

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Speaker 1: you said I have my absolute dream job as a teacher.

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Speaker 1: So tell me what do you do for work specifically

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Speaker 1: and how much money do you earn?

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Speaker 3: So I'm a teacher in Western Australia, so at the

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Speaker 3: moment I earn eighty five and twenty dollars and as

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Speaker 3: of January next year that goes up to ninety two

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Speaker 3: thousand and eighty dollars.

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Speaker 1: Very nice. Does that include or exclude super?

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Speaker 3: That excludes super?

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Speaker 1: Also super's on top. Yes, Oh that's very nice.

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Speaker 3: And the holidays are very nice as well.

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Speaker 1: Yeah, I feel like obviously teachers do so much more

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Speaker 1: work than people give them credit for, so like the

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Speaker 1: holidays would be nice. But I'm assuming you're doing a

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Speaker 1: lot of planning during that time. But at least you

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Speaker 1: don't have to be at work.

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Speaker 3: Yes, exactly, I can do it when I feel like it.

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Speaker 1: That's an absolute weird Now, tell me a bit more

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Speaker 1: about your big money goals. What are you currently working towards.

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Speaker 3: This was a bit of a tricky question because there's

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Speaker 3: nothing in particular at the moment that I'm saving for.

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Speaker 3: But I guess my really big money goal is to

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Speaker 3: create a bit of financial stability for my son and

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Speaker 3: to set him up and get him started so that

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Speaker 3: once he reaches an age where he can have access

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Speaker 3: to some money to get him started into adulthood. He's

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Speaker 3: got that there, but that also he has the financial

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Speaker 3: literacy to understand how he can spend or save or

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Speaker 3: invest that money.

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Speaker 1: I'm obsessed. I'm obsessed about seven year old. You never

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Speaker 1: thought that this would be a possibility, Like, that's crazy

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Speaker 1: to think that you're now talking about creating financial stability

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Speaker 1: for a three year old, like, ah, I'm obsessed. I

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Speaker 1: love it. Let's go to a really quick break because

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Speaker 1: I have so many questions for you, but I think

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Speaker 1: we need to grab a cover and come back after

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Speaker 1: this short break. All right, money Diaris, let's jump straight

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Speaker 1: back into it. Before you mentioned that you're working towards

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Speaker 1: creating some financial stability for your son and you kind

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Speaker 1: of want to get him to understand investments and savings

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Speaker 1: and how all that works. Do you currently have any investments?

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Speaker 1: If so, what are they? If not, what's the plan?

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Speaker 3: So for myself, I've got my super so at the moment,

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Speaker 3: I have two super accounts, which is a total of

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Speaker 3: forty one, five hundred and four dollars, and then I

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Speaker 3: have started doubling in rays as well, so at the moment,

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Speaker 3: I've got six hundred dollars in race.

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Speaker 1: Tell me why you have two super accounts.

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Speaker 3: When I became a teacher, I started doing casual and

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Speaker 3: so I signed up with the government super fund. But

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Speaker 3: I didn't have any insurances on that because I was casual,

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Speaker 3: So I kept my original superfund until I became full

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Speaker 3: time and then my insurance is kicked in. But I

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Speaker 3: haven't sat down and compared them. Just briefly looking at them.

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Speaker 3: There are some differences, so I just want to make

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Speaker 3: sure that I'm choosing the one that is the best

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Speaker 3: for me. I just haven't had the time to sit

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Speaker 3: through and go through and compare them.

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Speaker 1: At this stage, I'm obsessed. I was like, I wonder

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Speaker 1: why she has two Is it because she hasn't done

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Speaker 1: it or is it because one has insurance and the

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Speaker 1: other doesn't. And you said that that's the reason, and

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Speaker 1: that's a very good reason to have two super accounts.

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Speaker 1: I talk a lot on the podcast, obviously about the

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Speaker 1: importance of insurance, especially when you have bambinies. It's something

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Speaker 1: that I'm currently going through the process of revisiting because

401
00:19:18,560 --> 00:19:21,480
Speaker 1: my needs are changing. Right Like, historically I just had

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Speaker 1: a boyfriend and we rented a house when I established

403
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Speaker 1: all of my insurances. Now we have a mortgage, and yes,

404
00:19:28,040 --> 00:19:31,480
Speaker 1: I have updated my insurances since then, but my needs

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Speaker 1: have changed dramatically. Now I'm like, ah, I'm having a

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Speaker 1: baby next year. What the heck? Like, I'm going to

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Speaker 1: need a lot more life insurance. What happens if something

408
00:19:38,760 --> 00:19:40,520
Speaker 1: happened to me? What happens if something happens to my

409
00:19:40,600 --> 00:19:43,159
Speaker 1: husband and I'm currently working I'll tell you who it

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Speaker 1: is because I feel like I'm going to get a

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Speaker 1: lot of DMS about this. I'm currently working with Fuel

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Speaker 1: from Sky Wealth, and I'll put all of the info

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Speaker 1: for him in the show notes. But money Dirist, I'm

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Speaker 1: going to introduce you to him too, so he can

415
00:19:53,480 --> 00:19:56,480
Speaker 1: have a look at everything for you and go, this

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Speaker 1: is what you should be doing, because if you're going

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Speaker 1: to get insurance, especially personal insurances like life insurance, TPD,

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00:20:04,560 --> 00:20:08,040
Speaker 1: income protection, you're looking at, you know, death insurance. I

419
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Speaker 1: think it's so important to get it right the first

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Speaker 1: time because retail policies are very different to the policies

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Speaker 1: that you can get with a financial advisor. And I

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Speaker 1: feel like financial advice for the longest time has been

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Speaker 1: exorbitantly prohibitive. It's one of the reasons I left the

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Speaker 1: industry as an advisor because I was like, I can't

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Speaker 1: justifiably have to charge what I have to charge, Like

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Speaker 1: I was having to charge between three and a half

427
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Speaker 1: thousand and eight thousand dollars for the advice I was giving,

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Speaker 1: not because I was taking the mickey, but because it

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Speaker 1: was too expensive. And feel he just does insurance. So

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Speaker 1: like your fees are about three ninety five, that's money in,

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Speaker 1: it's money in. Anyway, we'll work it out so that

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Speaker 1: you don't have to pay fees, but don't tell anybody else.

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Speaker 1: So moving on money diarist, Do you have any debts?

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Speaker 1: If so, what are they tell me about them?

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Speaker 3: Yes? I do. Unfortunately I have a central In debt

436
00:20:59,080 --> 00:21:02,399
Speaker 3: which is three hundred eighty seven dollars. Other than that, no,

437
00:21:02,480 --> 00:21:04,600
Speaker 3: I have no other debts besides my hex which is

438
00:21:04,640 --> 00:21:06,800
Speaker 3: about thirty three nine hundred dollars.

439
00:21:07,280 --> 00:21:09,320
Speaker 1: Tell me how you ended up with a Centilink debt?

440
00:21:09,359 --> 00:21:11,440
Speaker 1: What does that mean? How does that work? I feel

441
00:21:11,480 --> 00:21:13,760
Speaker 1: like every time someone says I have a cent Link debt,

442
00:21:13,880 --> 00:21:16,600
Speaker 1: it's always this really frustrating tale of it being cent

443
00:21:16,680 --> 00:21:17,879
Speaker 1: Link's fault. So tell me.

444
00:21:18,840 --> 00:21:21,480
Speaker 3: So we get childcare subsidy because my son goes to

445
00:21:21,520 --> 00:21:25,560
Speaker 3: daycare three days a week, and apparently they overpaid us.

446
00:21:25,640 --> 00:21:28,119
Speaker 3: So now we owed them seven hundred and eighty dollars,

447
00:21:28,560 --> 00:21:31,600
Speaker 3: which I wasn't aware of until my childcare subsidy came

448
00:21:31,640 --> 00:21:34,359
Speaker 3: out at a lower rate I locked into Centilink, and

449
00:21:34,359 --> 00:21:36,200
Speaker 3: then they told me that I owed them seven hundred

450
00:21:36,240 --> 00:21:36,720
Speaker 3: and eighty.

451
00:21:36,520 --> 00:21:38,800
Speaker 1: Dollars ew And were you mad about that? Because I

452
00:21:38,800 --> 00:21:40,000
Speaker 1: would have been really mad about that.

453
00:21:40,680 --> 00:21:44,040
Speaker 3: I was more mad that I didn't get any notification,

454
00:21:44,320 --> 00:21:47,920
Speaker 3: Like the notification was just inside Centilink, which I never

455
00:21:47,960 --> 00:21:50,480
Speaker 3: log into sentilink to just check my notifications.

456
00:21:50,920 --> 00:21:53,119
Speaker 1: Yeah, why would you. I'm just doing what I was

457
00:21:53,160 --> 00:21:53,760
Speaker 1: meant to do.

458
00:21:54,040 --> 00:21:56,280
Speaker 3: Right, And then I would have just paid it, but

459
00:21:56,320 --> 00:22:00,520
Speaker 3: they had already started taking it out of my upcoming

460
00:22:00,880 --> 00:22:04,000
Speaker 3: childcare subsidy payments, So I'm just leaving it until it's done.

461
00:22:04,040 --> 00:22:06,480
Speaker 3: And it's about halfway through now, so it should be

462
00:22:06,520 --> 00:22:07,000
Speaker 3: gone soon.

463
00:22:07,440 --> 00:22:09,959
Speaker 1: Oh easy, So you don't have to like cough up

464
00:22:09,960 --> 00:22:12,679
Speaker 1: the extra three hundred ishbucks right now, like they're just

465
00:22:12,720 --> 00:22:14,119
Speaker 1: going to even it out for you.

466
00:22:15,000 --> 00:22:17,199
Speaker 3: Yeah, they just take out twenty percent of what you

467
00:22:17,240 --> 00:22:20,720
Speaker 3: would normally get for your childcare subsidy until that amount

468
00:22:20,760 --> 00:22:21,320
Speaker 3: has paid off.

469
00:22:21,359 --> 00:22:23,200
Speaker 1: Okay, I'm not too mad about that. I thought that

470
00:22:23,240 --> 00:22:24,840
Speaker 1: they were going to slam you with a bill that

471
00:22:24,880 --> 00:22:26,680
Speaker 1: you hadn't expected, and I would have been like, guys,

472
00:22:26,680 --> 00:22:29,600
Speaker 1: it's cost of living crisis. Cut that out absolutely, I know.

473
00:22:30,160 --> 00:22:34,280
Speaker 3: But it's frustrating because your childcare subsidy is based off

474
00:22:34,280 --> 00:22:36,360
Speaker 3: your estimate of how much you earn in the year.

475
00:22:36,440 --> 00:22:37,640
Speaker 1: I was about to ask about this.

476
00:22:37,680 --> 00:22:41,080
Speaker 3: And then obviously once you submit your tax return, then

477
00:22:41,200 --> 00:22:44,480
Speaker 3: they even it out. Yeah okay, So essentially they had

478
00:22:44,480 --> 00:22:48,239
Speaker 3: paid us more than what we were entitled to, so

479
00:22:48,280 --> 00:22:49,400
Speaker 3: then we have to pay them back.

480
00:22:49,560 --> 00:22:53,359
Speaker 1: Yeah, okay, that makes sense. While we here talking about childcare,

481
00:22:53,400 --> 00:22:56,000
Speaker 1: as somebody who is looking into childcare at the moment

482
00:22:56,000 --> 00:22:59,160
Speaker 1: and has been horrified at how much it costs, tell

483
00:22:59,200 --> 00:23:01,800
Speaker 1: me about your child care experience. You're in wa So

484
00:23:01,920 --> 00:23:04,680
Speaker 1: what do you pay? Like you said that your bambini

485
00:23:04,760 --> 00:23:06,679
Speaker 1: is in care three days a week, What does that

486
00:23:06,720 --> 00:23:08,000
Speaker 1: look like and what do you get? I need the

487
00:23:08,040 --> 00:23:09,159
Speaker 1: Pervy beats.

488
00:23:09,480 --> 00:23:13,280
Speaker 3: So his daycare is a bit more expensive than others

489
00:23:13,320 --> 00:23:15,720
Speaker 3: in our area. So I think it's about one hundred

490
00:23:15,720 --> 00:23:19,600
Speaker 3: and thirty dollars a day. We get back seventy four

491
00:23:19,680 --> 00:23:22,840
Speaker 3: percent of that through the childcare subsidy. And like I said,

492
00:23:22,840 --> 00:23:25,359
Speaker 3: he goes three days a week. We're really lucky that

493
00:23:25,400 --> 00:23:28,040
Speaker 3: we've got our parents on either side have him one

494
00:23:28,080 --> 00:23:30,240
Speaker 3: day a week as well. Oh, very nice, So we

495
00:23:30,240 --> 00:23:32,159
Speaker 3: don't have to pay for those two extra days. But

496
00:23:32,320 --> 00:23:34,719
Speaker 3: basically it's one hundred and thirty dollars a day, we

497
00:23:34,760 --> 00:23:37,720
Speaker 3: get back seventy four, So we end up paying about

498
00:23:37,760 --> 00:23:40,440
Speaker 3: two hundred and thirty dollars a fortnite, which covers him

499
00:23:40,440 --> 00:23:44,000
Speaker 3: for six days. That includes his food while he's there,

500
00:23:44,359 --> 00:23:46,600
Speaker 3: his nappies when he was in the hiss, milk for

501
00:23:46,640 --> 00:23:50,119
Speaker 3: his bottles, and we pretty much just drop him with

502
00:23:50,119 --> 00:23:52,919
Speaker 3: his spat change of clothes and pick him up at

503
00:23:52,960 --> 00:23:53,600
Speaker 3: the end of the day.

504
00:23:53,800 --> 00:23:57,240
Speaker 1: Oh that's a money win. Because some childcare centers don't

505
00:23:57,280 --> 00:23:58,879
Speaker 1: provide food and you have to send them with a

506
00:23:58,960 --> 00:24:02,240
Speaker 1: lunch box, or don't provide formula or nappies. I feel

507
00:24:02,280 --> 00:24:05,359
Speaker 1: like I started this conversation on social media recently because

508
00:24:05,880 --> 00:24:08,880
Speaker 1: in the area that I live in, childcare is an

509
00:24:08,880 --> 00:24:11,879
Speaker 1: elite sport. It is a competition. You have to have

510
00:24:12,000 --> 00:24:15,440
Speaker 1: your name down on the childcare list before the child's born,

511
00:24:15,840 --> 00:24:18,439
Speaker 1: and I found that really jarring. I was like going

512
00:24:18,480 --> 00:24:22,280
Speaker 1: to these childcare center like tour things and looking at

513
00:24:22,280 --> 00:24:24,280
Speaker 1: these childcare centers, going well, I don't know what I'm

514
00:24:24,280 --> 00:24:26,879
Speaker 1: looking for, Like, I don't have any kids. Am I

515
00:24:26,920 --> 00:24:28,919
Speaker 1: even allowed in here? I don't have a working with children.

516
00:24:29,160 --> 00:24:31,200
Speaker 1: I do actually have a working with children's check, but

517
00:24:31,200 --> 00:24:32,480
Speaker 1: you know what I mean, I'm like, how are you

518
00:24:32,520 --> 00:24:34,639
Speaker 1: just letting some random walk through your center because they

519
00:24:34,680 --> 00:24:38,359
Speaker 1: said they were pregnant. Anyway, it was interesting seeing the

520
00:24:38,359 --> 00:24:41,200
Speaker 1: difference between one center, which we have gone with, because

521
00:24:41,200 --> 00:24:43,960
Speaker 1: I kind of like the comprehensiveness of it, and I'm

522
00:24:43,960 --> 00:24:46,400
Speaker 1: assuming this is why you might have chosen yours takes

523
00:24:46,440 --> 00:24:49,040
Speaker 1: a lot of mental load off. Like they do the nappies,

524
00:24:49,040 --> 00:24:51,520
Speaker 1: they do the formula, they do the food, like everything

525
00:24:51,880 --> 00:24:53,520
Speaker 1: just made a lot of sense to me. But they're

526
00:24:53,560 --> 00:24:56,439
Speaker 1: more expensive, whereas another place was like, oh, well, you

527
00:24:56,480 --> 00:24:59,119
Speaker 1: supply nappies and a lunch box every day, and I

528
00:24:59,160 --> 00:25:01,680
Speaker 1: was like, oh my god, like I'm literally going to

529
00:25:01,720 --> 00:25:04,679
Speaker 1: be a working mum. That sounds like a commitment that

530
00:25:04,720 --> 00:25:08,240
Speaker 1: I'm not ready for. So absolutely essentially, like, if I've

531
00:25:08,320 --> 00:25:10,640
Speaker 1: just done some quick maths, if you're paying one thirty

532
00:25:10,680 --> 00:25:12,800
Speaker 1: a day and you get back seventy four percent, that

533
00:25:12,840 --> 00:25:15,600
Speaker 1: means childcare daily is costing you about thirty three dollars

534
00:25:15,640 --> 00:25:19,359
Speaker 1: eighty thirty four dollars. Yes, so that's not too bad

535
00:25:19,600 --> 00:25:22,600
Speaker 1: when you know, I guess, think about it, how has

536
00:25:22,640 --> 00:25:24,720
Speaker 1: your budget changed because of childcare?

537
00:25:24,920 --> 00:25:28,479
Speaker 3: I guess before he started going three days a week,

538
00:25:29,000 --> 00:25:33,639
Speaker 3: when I had unipracts. My mom and my mother in

539
00:25:33,760 --> 00:25:37,119
Speaker 3: law would actually split and have him three days in

540
00:25:37,160 --> 00:25:39,800
Speaker 3: two days, so we didn't have to worry about childcare

541
00:25:39,840 --> 00:25:42,720
Speaker 3: when I was only working part time. It was only

542
00:25:42,760 --> 00:25:45,760
Speaker 3: when I started working full time that we then put

543
00:25:45,840 --> 00:25:51,040
Speaker 3: him in for three days. So it was quite I guess,

544
00:25:51,119 --> 00:25:54,520
Speaker 3: easy in the sense that my income increased dramatically, and

545
00:25:54,560 --> 00:25:58,040
Speaker 3: then we had this additional expense on there as well. Yeah,

546
00:25:58,080 --> 00:26:01,600
Speaker 3: and because he goes the same amount of days every week,

547
00:26:01,760 --> 00:26:05,360
Speaker 3: it's the same amount that comes out every fortnight, and

548
00:26:05,400 --> 00:26:07,080
Speaker 3: I have it set up so that it comes out

549
00:26:07,080 --> 00:26:08,159
Speaker 3: the day that I get paid.

550
00:26:08,280 --> 00:26:08,560
Speaker 1: Yeah.

551
00:26:08,600 --> 00:26:10,760
Speaker 3: Great, the money comes in and then the money's just gone.

552
00:26:10,800 --> 00:26:12,840
Speaker 1: I want to ask more about the childcare stuff because

553
00:26:12,840 --> 00:26:15,159
Speaker 1: one I'm pervy, but two the amount of times I've

554
00:26:15,160 --> 00:26:16,760
Speaker 1: spoken to people that are like, I have no idea

555
00:26:16,760 --> 00:26:20,280
Speaker 1: how this works. So if your baby is going three

556
00:26:20,320 --> 00:26:24,080
Speaker 1: days a week, that means that total without any rebates,

557
00:26:24,080 --> 00:26:26,480
Speaker 1: it's about three hundred and ninety dollars a week. Is

558
00:26:26,520 --> 00:26:28,679
Speaker 1: that what's leaving your account and then you get some

559
00:26:28,880 --> 00:26:31,320
Speaker 1: back through sentiling or do you only have to have

560
00:26:31,359 --> 00:26:34,000
Speaker 1: the thirty three eighty a day leave your account? Like,

561
00:26:34,040 --> 00:26:38,120
Speaker 1: what does that actually, I guess look like cash flow wise.

562
00:26:38,880 --> 00:26:42,320
Speaker 3: So the childcare subsidy comes out before you receive the bill.

563
00:26:42,440 --> 00:26:45,200
Speaker 1: Right, so your bill is going to be that thirty

564
00:26:45,240 --> 00:26:47,800
Speaker 1: three or thirty four ish dollars a day, and then

565
00:26:47,840 --> 00:26:50,560
Speaker 1: you pay for that. So there's no overheads except for

566
00:26:50,600 --> 00:26:52,879
Speaker 1: when centiling goes and does their maths and says, sorry,

567
00:26:52,960 --> 00:26:54,359
Speaker 1: we let you have too much money.

568
00:26:54,359 --> 00:26:57,960
Speaker 3: You owe us money, Yes, exactly. So that was really

569
00:26:58,040 --> 00:26:59,879
Speaker 3: the only reason I found out that I owe them

570
00:27:00,080 --> 00:27:02,199
Speaker 3: your money was because the amount came out and it

571
00:27:02,240 --> 00:27:04,719
Speaker 3: was different than what it normally want. Like, excuse me,

572
00:27:04,920 --> 00:27:06,960
Speaker 3: but it's quite good in the sense that once you

573
00:27:07,000 --> 00:27:12,119
Speaker 3: submit your childcare subsidy claim, unless things change for whatever reason,

574
00:27:12,400 --> 00:27:16,080
Speaker 3: it's just kind of stays there and the childcare deal

575
00:27:16,119 --> 00:27:18,600
Speaker 3: with that, and then they just send you what you

576
00:27:18,680 --> 00:27:21,080
Speaker 3: owe remaining after the childcare subsidy.

577
00:27:21,200 --> 00:27:24,080
Speaker 1: Yeah, okay, So have you found that challenging or a

578
00:27:24,119 --> 00:27:29,080
Speaker 1: relatively easy process in comparison? Because I feel completely overwhelmed

579
00:27:29,080 --> 00:27:31,679
Speaker 1: when it comes to childcare. I go, wait, what, like,

580
00:27:31,720 --> 00:27:34,159
Speaker 1: this is a lot of money? Is this good? Is

581
00:27:34,160 --> 00:27:37,240
Speaker 1: it bad? Like there's so many conflicting opinions. Are you

582
00:27:37,400 --> 00:27:39,560
Speaker 1: comfy with that? Now that you're in the I guess,

583
00:27:39,600 --> 00:27:40,479
Speaker 1: in the process of it.

584
00:27:40,640 --> 00:27:43,600
Speaker 3: Yeah. Absolutely. At first, it was a little bit, I

585
00:27:43,640 --> 00:27:46,639
Speaker 3: guess scary because when we went in and decided on

586
00:27:46,680 --> 00:27:49,480
Speaker 3: a daycare, they did pre warn us that submitting a

587
00:27:49,520 --> 00:27:53,960
Speaker 3: childcare subsidy claim can take a really long time. And yeah,

588
00:27:54,000 --> 00:27:57,119
Speaker 3: if you start daycare before your claim has been accepted,

589
00:27:57,240 --> 00:27:59,840
Speaker 3: you have to pay the full amounts and then get

590
00:27:59,840 --> 00:28:00,920
Speaker 3: that money back later.

591
00:28:01,280 --> 00:28:04,600
Speaker 1: That's so expensive. That's why I mentioned cash flow because

592
00:28:04,600 --> 00:28:07,480
Speaker 1: I was like, cash flow is so important. Like, imagine

593
00:28:07,480 --> 00:28:08,800
Speaker 1: if you had to pay the full amount and then

594
00:28:08,840 --> 00:28:11,240
Speaker 1: you just got a refund later. I'd be like, that

595
00:28:11,400 --> 00:28:12,400
Speaker 1: is so unfair.

596
00:28:13,040 --> 00:28:15,040
Speaker 3: No, yeah, it works quite well now that we're set

597
00:28:15,119 --> 00:28:17,199
Speaker 3: up and I guess in the groove of it. The

598
00:28:17,240 --> 00:28:19,280
Speaker 3: only time we ever pay more is if he needs

599
00:28:19,280 --> 00:28:22,000
Speaker 3: to go for a casual day. But again, that's seventy

600
00:28:22,040 --> 00:28:24,520
Speaker 3: five percent from the childcare subsidy still comes out of

601
00:28:24,560 --> 00:28:25,520
Speaker 3: casual days as well.

602
00:28:25,640 --> 00:28:28,439
Speaker 1: Oh cool, Hey that's a bit of a money win. Also,

603
00:28:28,560 --> 00:28:31,800
Speaker 1: random question. One thing I learned recently when I put

604
00:28:31,840 --> 00:28:35,360
Speaker 1: my non existent baby down for daycare. It was very

605
00:28:35,359 --> 00:28:37,200
Speaker 1: strange because they're like, you know, is it a boy

606
00:28:37,280 --> 00:28:38,520
Speaker 1: or a girl? And I'm like, I don't know, just

607
00:28:38,520 --> 00:28:40,600
Speaker 1: call a baby divine. Yeah. They're like, do you have

608
00:28:40,640 --> 00:28:42,360
Speaker 1: a name to put down? I was like no, Like

609
00:28:42,520 --> 00:28:44,920
Speaker 1: it's not even born yet, what are you talking about.

610
00:28:45,640 --> 00:28:49,160
Speaker 1: They said that when we pick days, if you're going

611
00:28:49,200 --> 00:28:51,760
Speaker 1: to do less than a full time schedule, so less

612
00:28:51,800 --> 00:28:54,720
Speaker 1: than five days, one of the days has to be

613
00:28:54,800 --> 00:28:57,440
Speaker 1: a Monday or has to be a Friday. Have you

614
00:28:57,680 --> 00:29:02,320
Speaker 1: found this to be a thing, because I originally was like, great,

615
00:29:02,480 --> 00:29:04,600
Speaker 1: I'm going to be relaxed on Mondays. I'm going to

616
00:29:04,640 --> 00:29:07,280
Speaker 1: be relaxed on Fridays, and I will pop my baby

617
00:29:07,320 --> 00:29:10,360
Speaker 1: into care Tuesday, Wednesday, Thursdays. And when I put those

618
00:29:10,440 --> 00:29:12,040
Speaker 1: dates down, they were like, oh no, no, no, one

619
00:29:12,080 --> 00:29:13,680
Speaker 1: day has to be a Monday or a Friday. And

620
00:29:13,720 --> 00:29:16,440
Speaker 1: I was like sorry what, Oh no, I never had that.

621
00:29:16,760 --> 00:29:19,120
Speaker 1: So it's just an elite sport in my suburb, right.

622
00:29:19,200 --> 00:29:21,920
Speaker 3: Yes, yes, just in your suburb. Baby. But we have

623
00:29:22,160 --> 00:29:27,560
Speaker 3: had day care price increases since we've been there. Oh yes,

624
00:29:27,920 --> 00:29:30,680
Speaker 3: so I find usually as the government says, hey we're

625
00:29:30,680 --> 00:29:33,960
Speaker 3: going to increase the childcare subsidy payments, the daycare goes, hey,

626
00:29:33,960 --> 00:29:36,760
Speaker 3: we're going to increase our prices, which is totally fair

627
00:29:37,040 --> 00:29:40,320
Speaker 3: in my opinion, but usually we still end up paying

628
00:29:40,400 --> 00:29:42,400
Speaker 3: either just a little bit extra or the same as

629
00:29:42,440 --> 00:29:43,440
Speaker 3: what we were paying before.

630
00:29:43,480 --> 00:29:45,160
Speaker 1: Oh my gosh, I feel like I'm going on and

631
00:29:45,200 --> 00:29:50,080
Speaker 1: on about this childcare conversation, but it is pervy money content. However,

632
00:29:50,320 --> 00:29:52,840
Speaker 1: the thing that really frustrates me about that because, as

633
00:29:52,880 --> 00:29:55,200
Speaker 1: I said, I've been having a lot of conversation online,

634
00:29:55,240 --> 00:29:58,400
Speaker 1: mainly on Instagram with mums when I post about what

635
00:29:58,600 --> 00:30:02,400
Speaker 1: childcare questions I have is a lot of the educators

636
00:30:02,800 --> 00:30:04,920
Speaker 1: that are messaging me go, hey, did you know that

637
00:30:05,000 --> 00:30:08,200
Speaker 1: every time there is a childcare increase, we don't actually

638
00:30:08,240 --> 00:30:12,960
Speaker 1: increase our income. So the educators are still paid honestly

639
00:30:13,320 --> 00:30:16,800
Speaker 1: like trash, and the childcare centers are just making more

640
00:30:16,840 --> 00:30:20,120
Speaker 1: profit because they're just passing it along to you. Anyway,

641
00:30:20,240 --> 00:30:21,840
Speaker 1: that's a conversation for another time.

642
00:30:23,200 --> 00:30:24,959
Speaker 3: I was just going to say, as a teacher, I

643
00:30:25,040 --> 00:30:27,760
Speaker 3: own quite a lot more than what the daycare workers do.

644
00:30:28,160 --> 00:30:30,080
Speaker 3: But I walk in there to drop myself off and

645
00:30:30,080 --> 00:30:31,920
Speaker 3: I'm like, oh my gosh, how do you even do this?

646
00:30:32,080 --> 00:30:34,920
Speaker 3: Like I can't stay longer than five minutes because I'm

647
00:30:34,960 --> 00:30:37,320
Speaker 3: so overwhelmed by how much work they have to do.

648
00:30:37,480 --> 00:30:39,920
Speaker 1: Exactly and they're not just doing like work. They're not

649
00:30:39,960 --> 00:30:42,600
Speaker 1: just looking after your baby, they're not babysitters. They're also

650
00:30:42,760 --> 00:30:45,040
Speaker 1: educating a tiny human who doesn't have a very good

651
00:30:45,040 --> 00:30:47,280
Speaker 1: attention span. That's exhausting.

652
00:30:47,800 --> 00:30:48,560
Speaker 3: Absolutely.

653
00:30:48,880 --> 00:30:52,000
Speaker 1: Oh Anyway, I could go on and on, but the

654
00:30:52,080 --> 00:30:54,840
Speaker 1: overwhelming question I have in my head right now, my friend,

655
00:30:54,960 --> 00:30:57,680
Speaker 1: I want to know what's your best money habit? So

656
00:30:57,840 --> 00:30:58,200
Speaker 1: I have.

657
00:30:58,160 --> 00:31:02,200
Speaker 3: Everything in my bank account automated, so as soon as

658
00:31:02,240 --> 00:31:04,760
Speaker 3: I get paid, my rent comes out, most of my

659
00:31:04,800 --> 00:31:08,120
Speaker 3: bills come out, and then the day after I'm paid

660
00:31:08,240 --> 00:31:12,640
Speaker 3: is essentially what I'm left to spend for the fortnight.

661
00:31:13,200 --> 00:31:15,400
Speaker 3: So that's been working really well for me. It includes

662
00:31:15,440 --> 00:31:17,440
Speaker 3: my savings and all my bills, so I don't have

663
00:31:17,520 --> 00:31:19,480
Speaker 3: to worry about you know, am I going to have

664
00:31:19,600 --> 00:31:23,080
Speaker 3: enough money a week after I'm paid because I get

665
00:31:23,080 --> 00:31:25,560
Speaker 3: paid and then all my bills are essentially paid as well.

666
00:31:25,680 --> 00:31:28,720
Speaker 1: Genius. I love it. That's why I created my money

667
00:31:28,720 --> 00:31:33,440
Speaker 1: masterclass actually, because I think that absolutely everything should be automated. Like,

668
00:31:33,480 --> 00:31:35,840
Speaker 1: if you can automate it, it's like set and forget

669
00:31:35,840 --> 00:31:37,840
Speaker 1: and things are happening in the background and your money

670
00:31:37,880 --> 00:31:40,080
Speaker 1: is actually working as hard for you as you do

671
00:31:40,160 --> 00:31:43,000
Speaker 1: for it. Yes, how did you work out how to

672
00:31:43,040 --> 00:31:46,840
Speaker 1: create that structure? And is that structure I guess working

673
00:31:46,880 --> 00:31:49,120
Speaker 1: perfectly for you? Like how have you kind of built

674
00:31:49,160 --> 00:31:49,840
Speaker 1: it over time?

675
00:31:50,800 --> 00:31:53,080
Speaker 3: So a lot of it is advice from listening to

676
00:31:53,120 --> 00:31:54,160
Speaker 3: the podcast.

677
00:31:53,720 --> 00:31:56,600
Speaker 1: Oh thank you, My ego is very happy.

678
00:31:57,760 --> 00:32:01,480
Speaker 3: It honestly has really changed my perspective though, because there's

679
00:32:01,480 --> 00:32:05,000
Speaker 3: so many things that I wasn't aware of, and having

680
00:32:05,080 --> 00:32:08,800
Speaker 3: even just separate bank accounts for separate goals or separate

681
00:32:09,120 --> 00:32:13,520
Speaker 3: intents has really helped me as well. It's working relatively

682
00:32:13,560 --> 00:32:16,640
Speaker 3: well in the sense that the money that I want

683
00:32:16,680 --> 00:32:21,160
Speaker 3: to not spend is put into an account which is

684
00:32:21,200 --> 00:32:24,520
Speaker 3: hidden from my online banking, so I cannot touch it.

685
00:32:24,560 --> 00:32:26,160
Speaker 3: The only way that I can get that money is

686
00:32:26,200 --> 00:32:27,800
Speaker 3: if I phone the bank and say, hey, can you

687
00:32:27,800 --> 00:32:30,280
Speaker 3: transfer this money over into my other account?

688
00:32:30,440 --> 00:32:32,120
Speaker 1: Who do you bank with? I need to know because

689
00:32:32,120 --> 00:32:33,880
Speaker 1: I'm going to get questions. People are going to be like,

690
00:32:34,040 --> 00:32:36,120
Speaker 1: how do I set that up? What does that actually

691
00:32:36,160 --> 00:32:39,600
Speaker 1: look like? What bank? Is that not a recommendation?

692
00:32:40,320 --> 00:32:41,520
Speaker 3: No, I am with PNN.

693
00:32:41,640 --> 00:32:44,960
Speaker 1: Okay, I'm sure other banks can absolutely do that for you.

694
00:32:45,320 --> 00:32:47,480
Speaker 1: But it's just helpful to know because people will be like,

695
00:32:47,480 --> 00:32:49,880
Speaker 1: oh my gosh, I want that system. What bank does

696
00:32:49,920 --> 00:32:52,000
Speaker 1: she bank with? So thank you for sharing.

697
00:32:52,040 --> 00:32:53,880
Speaker 3: Well, I just called them one day and said, hey,

698
00:32:54,000 --> 00:32:56,160
Speaker 3: is there a way of making this so that I

699
00:32:56,200 --> 00:32:58,000
Speaker 3: can't access the money? And they said, yeah, sure, we'll

700
00:32:58,000 --> 00:32:59,880
Speaker 3: just block it for you. But I still have the

701
00:33:00,000 --> 00:33:02,680
Speaker 3: acount detail, so I can still manually transfer money into

702
00:33:02,680 --> 00:33:05,280
Speaker 3: that account. Great. The thing that I guess I'd like

703
00:33:05,320 --> 00:33:08,000
Speaker 3: to improve is I do have a separate account which

704
00:33:08,040 --> 00:33:11,120
Speaker 3: I have called other Bills, So that's intended for bills

705
00:33:11,120 --> 00:33:14,280
Speaker 3: that come out like quarterly or even annually, you know,

706
00:33:14,360 --> 00:33:17,200
Speaker 3: at my car registration. And what I try to do

707
00:33:17,400 --> 00:33:20,760
Speaker 3: is transfer fifty dollars every fortnight into that so that

708
00:33:20,800 --> 00:33:23,760
Speaker 3: it builds up. The only thing is I have access

709
00:33:23,800 --> 00:33:27,520
Speaker 3: to that account. Right if I'm running low on funds

710
00:33:27,520 --> 00:33:30,000
Speaker 3: for the Fortnite, I can go, oh, hey, there's money there.

711
00:33:30,440 --> 00:33:34,040
Speaker 3: And I also did have my emergency fund as an

712
00:33:34,080 --> 00:33:37,960
Speaker 3: account accessible on my online banking because I figured if

713
00:33:37,960 --> 00:33:39,880
Speaker 3: there's an emergency, I need to be able to access it.

714
00:33:40,600 --> 00:33:42,400
Speaker 3: But the same thing, I would see that money sitting

715
00:33:42,440 --> 00:33:44,080
Speaker 3: there and go, oh, just quickly borrow some of that

716
00:33:44,120 --> 00:33:46,760
Speaker 3: and I'll put it back later. So I actually ended

717
00:33:46,800 --> 00:33:50,800
Speaker 3: up transferring all of that money into my hidden account.

718
00:33:50,440 --> 00:33:51,960
Speaker 1: Knowing that it's just a phone call away.

719
00:33:52,320 --> 00:33:55,280
Speaker 3: Yes, so at the moment, my savings an emergency account

720
00:33:55,280 --> 00:33:57,640
Speaker 3: are actually in one account, but I would like to

721
00:33:57,680 --> 00:33:58,520
Speaker 3: separate them again.

722
00:33:58,600 --> 00:34:00,960
Speaker 1: Yeah, great, I love this. I feel like you're across it.

723
00:34:01,040 --> 00:34:04,160
Speaker 1: I'm gonna cheekily gift you my budget and cash flow systems,

724
00:34:04,200 --> 00:34:06,959
Speaker 1: so the money master Class actually because I feel like,

725
00:34:07,360 --> 00:34:09,319
Speaker 1: if it's not working perfectly for you, I think I

726
00:34:09,320 --> 00:34:11,920
Speaker 1: can make it work perfectly because I'm like, oh, I

727
00:34:11,960 --> 00:34:15,280
Speaker 1: totally get that, but the visibility thing can be really hard.

728
00:34:15,560 --> 00:34:18,680
Speaker 1: But it sounds like with your other bill's account, just

729
00:34:18,719 --> 00:34:22,600
Speaker 1: being cheeky, you maybe haven't done a comprehensive enough budget

730
00:34:22,640 --> 00:34:25,280
Speaker 1: to know exactly how much needs to go into each account,

731
00:34:25,280 --> 00:34:28,239
Speaker 1: which will then lead to you having to dip in

732
00:34:28,320 --> 00:34:30,440
Speaker 1: and out of different accounts. Because I'm assuming it's not

733
00:34:30,480 --> 00:34:32,959
Speaker 1: you going, I'll just borrow that money from here because

734
00:34:33,000 --> 00:34:36,080
Speaker 1: I really want a new jumper. It's probably you going, Oh,

735
00:34:36,120 --> 00:34:38,040
Speaker 1: that bill's popped up. I'll just borrow a bit of

736
00:34:38,040 --> 00:34:40,520
Speaker 1: money from here to go to here. And we actually

737
00:34:40,560 --> 00:34:44,000
Speaker 1: want to track absolutely every single dollar that comes in

738
00:34:44,080 --> 00:34:47,879
Speaker 1: and my money master Class system does that. It's so comprehensive.

739
00:34:47,920 --> 00:34:49,880
Speaker 1: I think you'll love it, but I'll give that to

740
00:34:49,880 --> 00:34:51,719
Speaker 1: you later. We'll sort that out after we're not on

741
00:34:51,719 --> 00:34:53,839
Speaker 1: the podcast. But for those listening who are going, oh,

742
00:34:53,840 --> 00:34:56,080
Speaker 1: I really want to do that as well. VI, I

743
00:34:56,120 --> 00:34:58,319
Speaker 1: will get just a goat sheet to turn back on

744
00:34:58,920 --> 00:35:01,959
Speaker 1: the pod discount code for this week, and the pod

745
00:35:02,000 --> 00:35:05,560
Speaker 1: discount code is pod five zero to give you fifty

746
00:35:05,560 --> 00:35:07,520
Speaker 1: bucks off. We'll obviously put all the information in the

747
00:35:07,520 --> 00:35:10,080
Speaker 1: show notes, so don't worry. But that's a little bit

748
00:35:10,080 --> 00:35:14,360
Speaker 1: of a money win for the community. You're welcome, Money Diarist.

749
00:35:14,560 --> 00:35:17,120
Speaker 1: Moving on from that, what do you think your worst

750
00:35:17,120 --> 00:35:19,200
Speaker 1: money habit is? Is it that dipping in and out

751
00:35:19,239 --> 00:35:21,720
Speaker 1: of each account or is there another cheeky one to share?

752
00:35:22,239 --> 00:35:25,560
Speaker 3: I think it's sometimes I get caught up in impulse spending,

753
00:35:26,040 --> 00:35:29,280
Speaker 3: usually if it's for my son. So if it's something

754
00:35:29,320 --> 00:35:31,920
Speaker 3: for me, I'm more than happily put twenty four hours

755
00:35:31,920 --> 00:35:35,319
Speaker 3: between me and buying it, and usually buy twenty four

756
00:35:35,320 --> 00:35:38,000
Speaker 3: hours it's completely left my mind, and if it hasn't,

757
00:35:38,040 --> 00:35:41,520
Speaker 3: then then I'll consider whether or not I can actually

758
00:35:41,719 --> 00:35:44,680
Speaker 3: buy it. But if it's something for my son, I'll

759
00:35:44,719 --> 00:35:46,920
Speaker 3: just buy it no matter what it is. It might

760
00:35:46,960 --> 00:35:48,680
Speaker 3: be shoes, it might be closed, it might be a toy.

761
00:35:48,760 --> 00:35:50,719
Speaker 1: I feel like that's going to be me. I need

762
00:35:50,760 --> 00:35:53,760
Speaker 1: to buy song curving this. When I get some that's helpful,

763
00:35:53,800 --> 00:35:55,280
Speaker 1: I'll share it, I promise.

764
00:35:55,239 --> 00:35:58,040
Speaker 3: Yes, please, you know. I want to give him everything

765
00:35:58,160 --> 00:36:01,880
Speaker 3: that he wants. And sometimes it's really hard because I think, well,

766
00:36:01,920 --> 00:36:04,279
Speaker 3: what if it's not there in twenty four hours or

767
00:36:04,680 --> 00:36:07,760
Speaker 3: especially on Facebook Marketplace. When I see a really good deal.

768
00:36:07,600 --> 00:36:09,680
Speaker 1: If it's on Facebook Marketplace, it's probably a money win

769
00:36:09,719 --> 00:36:11,279
Speaker 1: my friend, Yes.

770
00:36:11,040 --> 00:36:14,600
Speaker 3: But it's also probably not something that he needs. But yeah,

771
00:36:14,600 --> 00:36:18,160
Speaker 3: when it comes to my son, I would buy anything.

772
00:36:18,400 --> 00:36:20,319
Speaker 1: Oh my gosh, I feel like that's going to be me.

773
00:36:20,520 --> 00:36:22,520
Speaker 1: And one of the best things that I've ever done

774
00:36:22,520 --> 00:36:25,200
Speaker 1: while pregnant is not find out the gender of my baby.

775
00:36:25,440 --> 00:36:28,439
Speaker 1: So I can't go shopping like I can obviously buy

776
00:36:28,480 --> 00:36:31,120
Speaker 1: white onesies, but I'm out of buying white onesies. And

777
00:36:31,160 --> 00:36:33,640
Speaker 1: now it's kind of like, well, I can't get cute

778
00:36:33,640 --> 00:36:36,200
Speaker 1: girl things or I can't get cute boy things, like

779
00:36:36,239 --> 00:36:37,960
Speaker 1: we're just going to have to wait. And that's been

780
00:36:38,040 --> 00:36:40,800
Speaker 1: a really good money when to be honest, we did.

781
00:36:40,640 --> 00:36:43,319
Speaker 3: The exact same thing because we didn't really have like

782
00:36:43,360 --> 00:36:45,480
Speaker 3: a nursery decor because you know, we didn't know was

783
00:36:45,480 --> 00:36:46,959
Speaker 3: it going to be a girl. It couldn't be a boy.

784
00:36:47,520 --> 00:36:51,960
Speaker 3: My husband actually ended up painting some little animal pictures

785
00:36:52,000 --> 00:36:55,120
Speaker 3: for the nursery as well, where we're like very mixed colors,

786
00:36:55,239 --> 00:36:58,000
Speaker 3: very gender neutral. So we ended up saving money in

787
00:36:58,040 --> 00:36:59,040
Speaker 3: some senses as well.

788
00:36:59,120 --> 00:37:01,480
Speaker 1: Yeah, great, and find out the gender. It will save

789
00:37:01,520 --> 00:37:03,840
Speaker 1: you money. Great money tip from Sheese on the money.

790
00:37:03,960 --> 00:37:07,600
Speaker 3: And it's such an amazing experience to go through that

791
00:37:07,719 --> 00:37:10,000
Speaker 3: labor and that birth and then to find out the gender.

792
00:37:10,080 --> 00:37:12,200
Speaker 3: It's a really overwhelmingly happy.

793
00:37:12,000 --> 00:37:13,640
Speaker 1: See that's the magic I'm waiting for.

794
00:37:13,960 --> 00:37:15,040
Speaker 3: Yes, it is magic.

795
00:37:15,200 --> 00:37:18,120
Speaker 1: Oh my gosh, I love it all Right, money, dirist. Unfortunately,

796
00:37:18,200 --> 00:37:21,080
Speaker 1: that is almost all we have time for today. Now

797
00:37:21,080 --> 00:37:22,480
Speaker 1: that we've had a chat. I feel like at the

798
00:37:22,520 --> 00:37:25,080
Speaker 1: start you were like, look, I think I'm a bee.

799
00:37:25,400 --> 00:37:28,239
Speaker 1: I was considering a se But I really do think

800
00:37:28,239 --> 00:37:30,600
Speaker 1: I'm a bee after going through all of my teacher criteria,

801
00:37:30,640 --> 00:37:32,640
Speaker 1: which is a very teacher thing to do, my friend.

802
00:37:33,320 --> 00:37:36,200
Speaker 1: But we've just gone through this epic story. Like we've

803
00:37:36,360 --> 00:37:39,560
Speaker 1: talked about domestic abuse, we've talked about your upbringing, how

804
00:37:39,600 --> 00:37:41,759
Speaker 1: that has happened, how that has impacted you. You're the

805
00:37:41,760 --> 00:37:44,560
Speaker 1: first person in your family to go to university. You're

806
00:37:44,640 --> 00:37:46,880
Speaker 1: killing it. You have this son, You've got your budget

807
00:37:46,880 --> 00:37:49,239
Speaker 1: and cash flow system sorted out. You've obviously got your

808
00:37:49,280 --> 00:37:52,239
Speaker 1: two super accounts for good reason, like you know that

809
00:37:52,280 --> 00:37:55,319
Speaker 1: you're meant to have a super account with good insurances

810
00:37:55,800 --> 00:37:59,120
Speaker 1: and one that has good performance. And then you've also

811
00:37:59,200 --> 00:38:01,600
Speaker 1: started doubling in raise, so you're already investing. And you're

812
00:38:01,640 --> 00:38:04,719
Speaker 1: a young mum. You're not even thirty yet. What the heck? So,

813
00:38:04,840 --> 00:38:08,520
Speaker 1: looking at all of this, do you still think that

814
00:38:08,640 --> 00:38:12,320
Speaker 1: bee is reflective of where you are? And if so, why,

815
00:38:12,400 --> 00:38:14,040
Speaker 1: If not, what would you change it to?

816
00:38:15,000 --> 00:38:18,720
Speaker 3: Yes, I still think a bee it's just above satisfactory.

817
00:38:19,200 --> 00:38:21,680
Speaker 3: So a BEE is what we consider high but not

818
00:38:21,760 --> 00:38:25,960
Speaker 3: quite excellent. I would like to consolidate my soupers instead

819
00:38:25,960 --> 00:38:28,160
Speaker 3: of paying two sets of fees, So I'd like to

820
00:38:28,160 --> 00:38:30,759
Speaker 3: sit down and go through that. I have a bank

821
00:38:30,760 --> 00:38:34,640
Speaker 3: account for my son which I transfer money into every fortnight,

822
00:38:34,760 --> 00:38:37,719
Speaker 3: but I would like to, I guess, set a goal

823
00:38:38,000 --> 00:38:41,560
Speaker 3: for what amount of money am I hoping for that

824
00:38:41,640 --> 00:38:44,680
Speaker 3: to turn into when he reaches a certain age and

825
00:38:44,719 --> 00:38:47,160
Speaker 3: then have a better idea of how much I could

826
00:38:47,200 --> 00:38:51,319
Speaker 3: be putting into that. I would also like to think

827
00:38:51,360 --> 00:38:54,600
Speaker 3: about what am I going to do when my pay

828
00:38:54,680 --> 00:38:58,240
Speaker 3: increases as of next year, because there's a seven thousand

829
00:38:58,200 --> 00:39:02,840
Speaker 3: dollars increase that's coming and I don't want to just

830
00:39:02,880 --> 00:39:05,279
Speaker 3: have that seven thousand dollars disappear. I really want to

831
00:39:05,280 --> 00:39:07,640
Speaker 3: think about what am I going to be doing with that.

832
00:39:08,080 --> 00:39:09,800
Speaker 3: And my husband is also going to be getting a

833
00:39:09,800 --> 00:39:11,640
Speaker 3: pay increase around the same time as well.

834
00:39:11,719 --> 00:39:14,200
Speaker 1: Money weir yeah.

835
00:39:13,640 --> 00:39:15,960
Speaker 3: Thinking about what can we do and is there any

836
00:39:16,000 --> 00:39:17,600
Speaker 3: goals that we want to work towards.

837
00:39:17,840 --> 00:39:20,400
Speaker 1: I love this. I'm actually so glad that during this

838
00:39:20,440 --> 00:39:23,520
Speaker 1: episode we mentioned sky Wealth, because I'm going to set

839
00:39:23,560 --> 00:39:25,320
Speaker 1: you up with them and you're going to get you

840
00:39:25,360 --> 00:39:27,919
Speaker 1: super consolidated and all of that sorted out. And then

841
00:39:28,000 --> 00:39:30,480
Speaker 1: I already told you I'm gifting you the Money Masterclass,

842
00:39:30,680 --> 00:39:32,640
Speaker 1: and that goes through goal setting and making sure that

843
00:39:32,680 --> 00:39:35,200
Speaker 1: you don't fall into the trap of lifestyle creep and

844
00:39:35,280 --> 00:39:38,880
Speaker 1: how to allocate when your pay increases. So I feel

845
00:39:38,880 --> 00:39:40,680
Speaker 1: like I've got this sorted Like you and I are

846
00:39:40,719 --> 00:39:41,960
Speaker 1: going to have a call in like a couple of

847
00:39:42,000 --> 00:39:43,440
Speaker 1: months and you can be like, oh babe, I'm an

848
00:39:43,440 --> 00:39:45,840
Speaker 1: aa is sweet, like I've got all this stuff sorted,

849
00:39:46,239 --> 00:39:48,960
Speaker 1: so I will be checking in with you, But unfortunately

850
00:39:49,120 --> 00:39:52,000
Speaker 1: that is all we have time for today. This has

851
00:39:52,040 --> 00:39:54,239
Speaker 1: been one of my favorite chats. I feel like money

852
00:39:54,280 --> 00:39:56,440
Speaker 1: diaries are always my favorite, but you have been an

853
00:39:56,480 --> 00:39:59,160
Speaker 1: absolute start. I genuinely feel like we're best friends now,

854
00:39:59,640 --> 00:40:01,680
Speaker 1: and that's the best outcome you can get from a

855
00:40:01,760 --> 00:40:04,359
Speaker 1: money diary. Let's be honest, but my friend, it has

856
00:40:04,400 --> 00:40:06,719
Speaker 1: been an absolute pleasure. So thank you so much for

857
00:40:06,800 --> 00:40:08,600
Speaker 1: joining us, and thank you for being so open about

858
00:40:08,600 --> 00:40:10,960
Speaker 1: your story with our community, because I just know they're

859
00:40:11,000 --> 00:40:12,480
Speaker 1: going to love it, but they're also going to get

860
00:40:12,520 --> 00:40:13,400
Speaker 1: so much out of it.

861
00:40:13,480 --> 00:40:15,400
Speaker 3: Thank you for listening to my story and giving me

862
00:40:15,400 --> 00:40:17,120
Speaker 3: an opportunity to share it. It means a lot.

863
00:40:23,239 --> 00:40:25,760
Speaker 1: The advice shared on She's on the Money is general

864
00:40:25,840 --> 00:40:29,680
Speaker 1: in nature and does not consider your individual circumstances. She's

865
00:40:29,719 --> 00:40:33,200
Speaker 1: on the Money exists purely for educational purposes and should

866
00:40:33,200 --> 00:40:36,400
Speaker 1: not be relied upon to make an investment or financial decision.

867
00:40:36,800 --> 00:40:39,239
Speaker 1: If you do choose to buy a financial product, read

868
00:40:39,239 --> 00:40:43,360
Speaker 1: the PDS TMD and obtain appropriate financial advice tailored towards

869
00:40:43,440 --> 00:40:43,960
Speaker 1: your needs.

870
00:40:44,320 --> 00:40:48,240
Speaker 4: Victoria divine and She's on the money are authorized representatives

871
00:40:48,280 --> 00:40:52,160
Speaker 4: of Money Shop pty Ltd ABN three two one IS

872
00:40:52,200 --> 00:40:56,040
Speaker 4: six four nine two seven seven zero eight AFSL four

873
00:40:56,200 --> 00:41:05,000
Speaker 4: five one two eight nine. The Work Act