Speaker 1: Hello.
Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud yr the
Speaker 2: Order Kerney Whoalbury and a waddery woman. And before we
Speaker 2: get started on She's on the Money podcast, I would
Speaker 2: like to acknowledge the traditional custodians of the land of
Speaker 2: which this podcast is recorded on a wondery country, acknowledging
Speaker 2: the elders, the ancestors and the next generation coming through
Speaker 2: as this podcast is about connecting, empowering, knowledge sharing and
Speaker 2: the storytelling of you to make a difference for today
Speaker 2: and lasting impact for tomorrow.
Speaker 1: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 1: Before I read out this money, Darry, I just want
Speaker 1: to give you guys a bit of a content warning.
Speaker 1: This week's episode does discuss in a bit more detail
Speaker 1: than usual domestic abuse, and I think it's really important
Speaker 1: to have that conversation in saying that if you aren't
Speaker 1: ready for that conversation, you're not in the mood or
Speaker 1: it's not a topic that you would like to broach today.
Speaker 1: We have so many episodes backlogged for you that you
Speaker 1: can go back and listen to. I promise there's literally
Speaker 1: one hundreds so just stop the recording here and jump
Speaker 1: onto another episode. But if you're staying one, thank you.
Speaker 1: I think that this is a beautiful conversation that I've
Speaker 1: had with our Money direst today. But it's also really
Speaker 1: worth noting that on average, one woman a week is
Speaker 1: murdered by her current or former partner, and last year,
Speaker 1: five six hundred and six women, which averages to fifteen
Speaker 1: women per day, were hospitalized due to family and domestic violence.
Speaker 1: One in four women twenty seven percent have experienced violence,
Speaker 1: emotional abuse, or economic abuse by cohabitating partners since the
Speaker 1: age of fifteen. So this isn't just a conversation for today,
Speaker 1: It's a broad conversation that we really need to be having.
Speaker 1: So here's the message that I got this week. Hi, Victoria.
Speaker 1: I grew up with a domestic abuser as a father
Speaker 1: and lived in a refuge with my mum and brothers
Speaker 1: for eight months. Not only was I the first in
Speaker 1: my family to ever go to university, I now have
Speaker 1: a bachelor's and a master's degree and work my absolute
Speaker 1: dream job as a teacher. I completed my masters while
Speaker 1: having a baby and would love to tell my story
Speaker 1: Money Diarist, what.
Speaker 4: The heck, it sounds really surreal to hear that back. Actually,
Speaker 4: it sounds like it's not even my story. Like I
Speaker 4: listen to that and think, wow, that sounds amazing, and
Speaker 4: then I'm like, oh my gosh, that's me.
Speaker 1: That's you. That's actually one of my favorite parts of
Speaker 1: Money Diaries is that moment where I get to read
Speaker 1: that and nobody else can see it, because obviously we
Speaker 1: don't video record Money Diaries because that would ruin the
Speaker 1: anonymity of it. Right, Yeah, I can see you, And
Speaker 1: it's very wholesome watching people have this story is read
Speaker 1: back to them because of how they're like, oh wait,
Speaker 1: that's kind of cool, isn't it.
Speaker 4: Yeah.
Speaker 1: I love that moment of reflection where they're like, I'm
Speaker 1: kind of cool. I know, like I've done some stuff.
Speaker 1: I've done some things like I actually killed it. Hey.
Speaker 4: Yeah. I think for me, like, I'm always really hard
Speaker 4: on myself, and I think, like, you know, what do
Speaker 4: I have to show for all these years that I've
Speaker 4: been working. But hearing that back, I think, Wow, like
Speaker 4: I've accomplished a lot.
Speaker 1: Yes you have, my friend, let's jump into a diary.
Speaker 1: I have so many questions for you. But the first
Speaker 1: one is what would you grade your money habits if
Speaker 1: I asked you to give them a grade from A
Speaker 1: through to F.
Speaker 4: Okay, this was a bit tricky because at the moment,
Speaker 4: as a teacher, I am doing reports for my students,
Speaker 4: and the criteria is very set out. What does a
Speaker 4: C look like? What does a B look like? So
Speaker 4: I have given myself a B, but I was leading
Speaker 4: towards a C. But I've decided on a BE.
Speaker 1: All Right, We'll learn more about that as the episode progresses,
Speaker 1: But I want to know now, my friend, can you
Speaker 1: tell me a little bit more about your money story.
Speaker 4: I grew up mostly with a single mum. After we
Speaker 4: escaped from domestic violence. It was just myself, my mum,
Speaker 4: and my two brothers. We lived in a women and
Speaker 4: children's refuge for about eight months when I was about
Speaker 4: seven years old, and then after that we moved into
Speaker 4: kind of government housing where we lived for most of
Speaker 4: my life. So we spent a long time, I guess,
Speaker 4: rebuilding our lives. When we escaped that situation, we had
Speaker 4: absolutely nothing. We had no furniture, we had no clothing.
Speaker 4: We really only had each other. I really saw money
Speaker 4: as a privilege, and I guess never really wanted to
Speaker 4: take advantage of it because I saw how hard my
Speaker 4: mom worked for it. I've also got some really vivid
Speaker 4: memories where we would have, say, rented or put an
Speaker 4: item like a washing machine on finance and then those
Speaker 4: payments can be made, So those things were I guess
Speaker 4: taken away. So I've always seen money as a privilege
Speaker 4: and something that once you have it, you need to
Speaker 4: really look after it and be careful with it. I
Speaker 4: guess on the flip side of that, though, my mom
Speaker 4: she really did give us everything that she could a queen. Absolutely,
Speaker 4: I never felt like I missed out. She took advantage
Speaker 4: of things like layby to make sure that we always
Speaker 4: had what she thought we deserved. You know, at Christmas
Speaker 4: and birthdays, we even sometimes got things from like charities.
Speaker 4: But even talking to my mom now as an adult,
Speaker 4: she always says to me, you know, she always felt
Speaker 4: really guilty for taking that because she felt like there
Speaker 4: was other families who needed it so much more than
Speaker 4: we did. But those things really saved us at that
Speaker 4: time because without those things, you know, we wouldn't have
Speaker 4: had school uniforms, we wouldn't have had school supplies, and
Speaker 4: my Mom did everything she could, but as I got older,
Speaker 4: I really wanted to start earning my own money, mainly
Speaker 4: so I could help out and I guess take some
Speaker 4: of that financial burden off my mom. But I didn't
Speaker 4: really think about the future. There was no forward planning.
Speaker 4: It was just I would work, I would save, I
Speaker 4: would spend, and then I would to repeat that cycle.
Speaker 4: So I was really lucky in the sense that I
Speaker 4: got to do a lot of travel in that time.
Speaker 4: I was able to fund my lifestyle where I was
Speaker 4: at UNI as well without having to rely on anyone else,
Speaker 4: obviously with a heck stet to go along with it.
Speaker 4: But I was also told that, like, credit cards are
Speaker 4: really bad, and I think that was, I guess a
Speaker 4: savior for me because I always wanted to stay really
Speaker 4: clear of it. So I worked all the way through UNI,
Speaker 4: and then after UNI, I was like, well, I just
Speaker 4: want to keep working, So that's what I did. And
Speaker 4: then when I got to my mid twenties, it's just
Speaker 4: about to turn twenty five, I kind of looked at
Speaker 4: it and thought, I've been working since I was, you know,
Speaker 4: thirteen years old, and what do I have. So that's
Speaker 4: when I decided to make a change. And I said
Speaker 4: to my now husband that I want to go back
Speaker 4: to UNI. I want to do something that I'm really
Speaker 4: passionate about and that's going to set me up financially.
Speaker 4: And then I found it. I was pregnant. Congrat thank you.
Speaker 4: So I said to my husband, you know, obviously this
Speaker 4: is going.
Speaker 1: To be challenging.
Speaker 4: Yes, challenging is a word for it. But you know,
Speaker 4: I said to him, are you still happy for me
Speaker 4: to go back to UNI? It means going part time
Speaker 4: even when I returned from Attorney Leaf And he said, absolutely,
Speaker 4: a supportive king, I love this, absolutely yes. So basically
Speaker 4: I went back to UNI, and then I had my son,
Speaker 4: and then when I did go back to work, it
Speaker 4: was just a couple of days a week while still
Speaker 4: doing UNI, which was technically full time, and having my
Speaker 4: son as well.
Speaker 1: Because he didn't have enough on with a newborn.
Speaker 4: No. I know, I look back at now and I'm like,
Speaker 4: how did I do that? I would literally have him
Speaker 4: asleep on me with my laptop like over him, completing
Speaker 4: my assignments. And I think about it now and I'm like,
Speaker 4: how did I even get through that time?
Speaker 1: But do you look back and go holy heck, I'm
Speaker 1: so proud of myself.
Speaker 2: Yeah.
Speaker 4: I think my graduation day was that day where I
Speaker 4: was like, wow, you know I made it, you did it. Yeah,
Speaker 4: because there was times, you know, especially financial, where it
Speaker 4: was hard. And I said to my husband like, I
Speaker 4: can defer, you know, I can put a pause on it,
Speaker 4: and I can go back and work more hours if
Speaker 4: we need to. But he was really amazing and saying, no,
Speaker 4: you know, get through it, get it done, and then
Speaker 4: when we're on the other side of it is when
Speaker 4: we'll see the benefits.
Speaker 1: I love it. That's what we want to hear. That's
Speaker 1: the type of relationship we want a champion, right, Yeah,
Speaker 1: So tell me a little bit more. I want to
Speaker 1: be asking pervy details. How old are you now?
Speaker 4: So I'm just about to turn twenty nine.
Speaker 1: Twenty nine, and you've achieved all this already, you look
Speaker 1: very young. But I was like, oh, she has to
Speaker 1: be in her thirties like now, obviously, no, she has
Speaker 1: to be where I'm at, Like, no way. And how
Speaker 1: old were you when you had your bambinie?
Speaker 4: So he came just before I ten twenty six?
Speaker 1: Oh my gosh, so.
Speaker 4: He's three now?
Speaker 1: Three is such a special age. I feel like they
Speaker 1: think they're so funny at three.
Speaker 4: Oh he thinks he's like fourteen.
Speaker 1: Yeah, it's like three going on thirteen. He's a genius. Yeah, literally,
Speaker 1: Oh my gosh, all right, is it okay if I
Speaker 1: peer back to the conversation before we go further in
Speaker 1: the Money Diary to talk a bit more about domestic violence?
Speaker 4: Absolutely?
Speaker 1: I feel like this is a topic that we don't
Speaker 1: talk about enough. And recently one of my good friends,
Speaker 1: Moana Hope, opened up on social media about her upbringing
Speaker 1: and how she went through a very dramatic domestic violence situation.
Speaker 1: And it's one of those things that you know you
Speaker 1: mentioned before you were like, we left, I had a
Speaker 1: domestic abuser as a father. My mom, you know, took
Speaker 1: us to a refuge and I lived there for eight months.
Speaker 1: And I know immediately that that's not where the story
Speaker 1: just ended, right, Like, obviously that might have been the
Speaker 1: final straw, the final time she left, the final time
Speaker 1: it worked. But growing up you said you were about seven,
Speaker 1: was that something that you were super aware of? Was
Speaker 1: that a shock to you?
Speaker 2: Like?
Speaker 1: How long was that process before your mum was like
Speaker 1: I can't do this? We are absolutely going to move out.
Speaker 1: We're going to have nothing, but we will have each other,
Speaker 1: and that's the best thing for my family. Like, how
Speaker 1: did she make that decision that you're aware of?
Speaker 4: Good question. So obviously I was quite young. I don't
Speaker 4: remember a whole lot of it, but as an adult,
Speaker 4: my mum and I have had a lot more open
Speaker 4: conversations about it. They were together for ten years and
Speaker 4: my mom fell pregnant with my brother when she was
Speaker 4: only seventeen, so she had the kind of mentality that
Speaker 4: was like, I made my bed, I need to lie
Speaker 4: in it. So she kind of was like, well, this
Speaker 4: is what I guess the consequences of my actions is
Speaker 4: now that I'm stuck in a relationship with this man
Speaker 4: because he's the father of my children. So it went
Speaker 4: on for quite a while. I remember leaving more than
Speaker 4: just the one time. I remember one night in particular,
Speaker 4: very vividly, which I won't get into the details, but
Speaker 4: you know, I remember there being police involved, I remember
Speaker 4: there being other people. I remember us having to just
Speaker 4: get up and just leave. And then within a matter
Speaker 4: of days we were doing the same thing again because
Speaker 4: we had been found. And that happened multiple times before
Speaker 4: the point that. We then went into police protection and
Speaker 4: moved into the refuge where we were able to stay
Speaker 4: for eight months, and luckily we were able to stay
Speaker 4: in our same state. My mum, that's where she drew
Speaker 4: the line. She said, you know, I'm not going to
Speaker 4: leave my family. But we did have to move around
Speaker 4: a lot before we were able to find that home base. Afterwards,
Speaker 4: we had to go through a lot of court proceedings.
Speaker 4: My father actually ended up going to prison, which I
Speaker 4: guess is a bit of a win because he had
Speaker 4: some consequences.
Speaker 1: Massive win, Yeah, because it doesn't often happen. No, exactly,
Speaker 1: it doesn't often happen, and that's one of the worst parts,
Speaker 1: Like people get away with this and they need to
Speaker 1: be held accountable for their actions.
Speaker 4: Yeah, and you know, it's sad to think that it
Speaker 4: took ten years of her going through that for it
Speaker 4: to get to that point. But luckily she had some
Speaker 4: people championing for her. She had some of our local
Speaker 4: police who really put the work in for that to
Speaker 4: support her and to support us as well, so we
Speaker 4: were able to get that and then once he was
Speaker 4: in prison, we were able to start I guess, rebuilding
Speaker 4: our lives and get back to a sense of security.
Speaker 4: But I still very, very vividly remember the day that
Speaker 4: I found out that he got out of prison, and
Speaker 4: I guess the fear that came over me, even as
Speaker 4: such a small child, because I remembered the amount of
Speaker 4: times that we had to completely leave our lives behind
Speaker 4: in hopes of finding something better and it not working out.
Speaker 1: Yeah, wow, what does that look like? Now, I'm going
Speaker 1: to draw a grand assumption that you're probably not in
Speaker 1: contact with your dad.
Speaker 4: No, absolutely not. So he has reached out to me
Speaker 4: on Facebook before, and I've just ignored the messages. Usually
Speaker 4: it's a guilt trip.
Speaker 1: Now you don't get that privilege, sir.
Speaker 4: No, you know, I've never even responded or given him
Speaker 4: the time of day. My brothers, on the other hand,
Speaker 4: have reached out to him and have spoken to him
Speaker 4: on occasion. But I've always been really blunt with my
Speaker 4: brothers and said, my life is not for him to
Speaker 4: know unless I decide that. So they've been really good
Speaker 4: at honoring that. So he doesn't know that I have
Speaker 4: a son. He doesn't know that I'm married, and when
Speaker 4: I did get married on Facebook, I made sure that
Speaker 4: I blocked him and all of his family, so they
Speaker 4: didn't see my change of name, so that I wasn't
Speaker 4: dragging anyone else into that as well.
Speaker 1: I love that you protect your family so fiercely, Yes,
Speaker 1: but it also breaks my heart that you have to
Speaker 1: do that, Like it makes me really sad that that's
Speaker 1: a necessary step that now, as a twenty nine year
Speaker 1: old adult, having went through that situation at the age
Speaker 1: of seven, you're now still having to protect your family
Speaker 1: from these situations. Are your brothers younger than you?
Speaker 4: One is older and one is younger?
Speaker 1: And tell me now about your mind. How's mum? Is
Speaker 1: she doing well?
Speaker 2: Like?
Speaker 1: What does she get up to?
Speaker 4: Yeah, she's amazing. She's not married, but she's been with
Speaker 4: her partner for gosh, like fifteen years probably more. Oh,
Speaker 4: I love this, Yes, And she since had another child,
Speaker 4: So when I was sixteen, she had another baby. So
Speaker 4: I've got an even younger brother and he's amazing as well.
Speaker 4: But she is just, I honestly don't know how to
Speaker 4: describe it, Like she's thriving. She really is like everything
Speaker 4: that she went through. Honestly, if you met her, she's
Speaker 4: the nicest, sweetest, happiest person that you'll ever meet. Because
Speaker 4: she just sees that she went through all this, but
Speaker 4: she came out on the other side, and from that,
Speaker 4: you know, she has these three beautiful children that she
Speaker 4: loves more than anything in the whole world. And every
Speaker 4: single time I see her, I feel that love. Every
Speaker 4: single time I speak to her, I feel that love.
Speaker 4: And now I'm able to see that love that she
Speaker 4: gives to my son as well her grandson.
Speaker 1: Oh, I'm obsessed. I love this. It's so nice to
Speaker 1: have a conversation with somebody about a circum stance that
Speaker 1: arguably happened so long ago. Because there are going to
Speaker 1: be people in our community who are kind of in
Speaker 1: the midst of this. They might have tried to leave,
Speaker 1: They might have left a number of times. They might be,
Speaker 1: you know, in the refuge right now, going does this
Speaker 1: get any better? I cannot see the light at the
Speaker 1: end of the tunnel. And now you're telling me about
Speaker 1: how your mom is thriving and she has a gorgeous partner,
Speaker 1: and she's had more babies and she's just living her
Speaker 1: best life. Like, look at the daughter she has. Now
Speaker 1: she has a grandson. Like all of this stuff that
Speaker 1: I think a lot of people don't get to see
Speaker 1: like they don't get to see it in the moment because,
Speaker 1: as you said before, you leave with literally nothing but
Speaker 1: each other and now you've rebuilt your lives like Ah,
Speaker 1: just makes me so happy for you.
Speaker 4: I know. And she has honestly three kids, even though
Speaker 4: I'm the only one who went to university, She's got
Speaker 4: three kids who are successful, who are independent. You know,
Speaker 4: she can look back and think that she did a
Speaker 4: really good job with.
Speaker 1: Them, Adore, And she did. She did the best she
Speaker 1: could with everything that she had.
Speaker 4: She did absolutely.
Speaker 1: Ah. All right, I want to know a little bit
Speaker 1: more about your money story, so let's jump back into
Speaker 1: the questions. Thank you for sharing that though, I think
Speaker 1: it's really really powerful. Tell me more. In your letter
Speaker 1: you said I have my absolute dream job as a teacher.
Speaker 1: So tell me what do you do for work specifically
Speaker 1: and how much money do you earn?
Speaker 4: So I'm a teacher in Western Australia, So at the
Speaker 4: moment I earn eighty five and twenty dollars and as
Speaker 4: of January next year that goes up to ninety two
Speaker 4: thousand and eighty dollars.
Speaker 1: Very nice. Does that include or exclude super?
Speaker 4: That excludes super? Oh?
Speaker 1: So super's on top. Yes, Oh that's very nice.
Speaker 4: And the holidays are very nice as well.
Speaker 1: Yeah, I feel like obviously teachers do so much more
Speaker 1: work than people give them credit for, so like the
Speaker 1: holidays would be nice. But I'm assuming you're doing a
Speaker 1: lot of planning during that time. But at least you
Speaker 1: don't have to be at work.
Speaker 4: Yes, exactly, I can do it when I feel like it.
Speaker 1: That's an absolute weird Now, tell me a bit more
Speaker 1: about your big money goals. What are you currently working towards.
Speaker 4: This was a bit of a tricky question because there's
Speaker 4: nothing in particular at the moment that I'm saving for.
Speaker 4: But I guess my really big money goal is to
Speaker 4: create a bit of financial stability for my son and
Speaker 4: to set him up and get him started so that
Speaker 4: once he reaches an age where he can have access
Speaker 4: to some money to get him started into adulthood. He's
Speaker 4: got that there, but that also he has the financial
Speaker 4: literacy to understand how he can spend or save or
Speaker 4: invest that money.
Speaker 1: I'm obsessed. I'm obsessed about seven year old. You never
Speaker 1: thought that this would be a possibility, Like, that's crazy
Speaker 1: to think that you're now talking about creating financial stability
Speaker 1: for a three year old, like, ah, I'm obsessed. I
Speaker 1: love it. Let's go to a really quick break because
Speaker 1: I have so many questions for you, but I think
Speaker 1: we need to grab a cover and come back after
Speaker 1: this short break. All right, money Diaris, let's jump straight
Speaker 1: back into it. Before you mentioned that you're working towards
Speaker 1: creating some financial stability for your son and you kind
Speaker 1: of want to get him to understand investments and savings
Speaker 1: and how all that works. Do you currently have any investments?
Speaker 1: If so, what are they? If not, what's the plan?
Speaker 4: So for myself, I've got my super so at the moment,
Speaker 4: I have two super accounts, which is a total of
Speaker 4: forty one, five hundred and four dollars, and then I
Speaker 4: have started doubling in rays as well, so at the moment,
Speaker 4: I've got six hundred dollars in race.
Speaker 1: Tell me why you have two super accounts.
Speaker 4: When I became a teacher, I started doing casual and
Speaker 4: so I signed up with the government super fund. But
Speaker 4: I didn't have any insurances on that because I was casual,
Speaker 4: So I kept my original superfund until I became full
Speaker 4: time and then my insurance is kicked in. But I
Speaker 4: haven't sat down and compared them. Just briefly looking at them.
Speaker 4: There are some differences, so I just want to make
Speaker 4: sure that I'm choosing the one that is the best
Speaker 4: for me. I just haven't had the time to sit
Speaker 4: through and go through and compare them.
Speaker 1: At this stage, I'm obsessed. I was like, I wonder
Speaker 1: why she has two Is it because she hasn't done
Speaker 1: it or is it because one has insurance and the
Speaker 1: other doesn't. And you said that that's the reason, and
Speaker 1: that's a very good reason to have two super accounts.
Speaker 1: I talk a lot on the podcast, obviously about the
Speaker 1: importance of insurance, especially when you have bambinies. It's something
Speaker 1: that I'm currently going through the process of revisiting because
Speaker 1: my needs are changing. Right Like, historically I just had
Speaker 1: a boyfriend and we rented a house when I established
Speaker 1: all of my insurances. Now we have a mortgage, and yes,
Speaker 1: I have updated my insurances since then, but my needs
Speaker 1: have changed dramatically. Now I'm like, ah, I'm having a
Speaker 1: baby next year. What the heck? Like, I'm going to
Speaker 1: need a lot more life insurance. What happens if something
Speaker 1: happened to me? What happens if something happens to my
Speaker 1: husband and I'm currently working I'll tell you who it
Speaker 1: is because I feel like I'm going to get a
Speaker 1: lot of DMS about this. I'm currently working with Fuel
Speaker 1: from Sky Wealth, and I'll put all of the info
Speaker 1: for him in the show notes. But money Dirist, I'm
Speaker 1: going to introduce you to him too, so he can
Speaker 1: have a look at everything for you and go, this
Speaker 1: is what you should be doing, because if you're going
Speaker 1: to get insurance, especially personal insurances like life insurance, TPD,
Speaker 1: income protection, you're looking at, you know, death insurance. I
Speaker 1: think it's so important to get it right the first
Speaker 1: time because retail policies are very different to the policies
Speaker 1: that you can get with a financial advisor. And I
Speaker 1: feel like financial advice for the longest time has been
Speaker 1: exorbitantly prohibitive. It's one of the reasons I left the
Speaker 1: industry as an advisor because I was like, I can't
Speaker 1: justifiably have to charge what I have to charge, Like
Speaker 1: I was having to charge between three and a half
Speaker 1: thousand and eight thousand dollars for the advice I was giving,
Speaker 1: not because I was taking the mickey, but because it
Speaker 1: was too expensive. And feel he just does insurance. So
Speaker 1: like your fees are about three ninety five, that's money in,
Speaker 1: it's money in. Anyway, we'll work it out so that
Speaker 1: you don't have to pay fees, but don't tell anybody else.
Speaker 1: So moving on money diarist, Do you have any debts?
Speaker 1: If so, what are they tell me about them?
Speaker 4: Yes? I do. Unfortunately I have a central In debt
Speaker 4: which is three hundred eighty seven dollars. Other than that, no,
Speaker 4: I have no other debts besides my hex which is
Speaker 4: about thirty three nine hundred dollars.
Speaker 1: Tell me how you ended up with a Centilink debt?
Speaker 1: What does that mean? How does that work? I feel
Speaker 1: like every time someone says I have a cent Link debt,
Speaker 1: it's always this really frustrating tale of it being cent
Speaker 1: Link's fault. So tell me.
Speaker 4: So we get childcare subsidy because my son goes to
Speaker 4: daycare three days a week, and apparently they overpaid us.
Speaker 4: So now we owed them seven hundred and eighty dollars,
Speaker 4: which I wasn't aware of until my childcare subsidy came
Speaker 4: out at a lower rate I locked into Centilink, and
Speaker 4: then they told me that I owed them seven hundred
Speaker 4: and eighty.
Speaker 1: Dollars ew And were you mad about that? Because I
Speaker 1: would have been really mad about that.
Speaker 4: I was more mad that I didn't get any notification,
Speaker 4: Like the notification was just inside Centilink, which I never
Speaker 4: log into sent link to just check my notifications.
Speaker 1: Yeah, why would you. I'm just doing what I was
Speaker 1: meant to do.
Speaker 4: Right, And then I would have just paid it, but
Speaker 4: they had already started taking it out of my upcoming
Speaker 4: childcare subsidy payments, So I'm just leaving it until it's done.
Speaker 4: And it's about halfway through now, so it should be
Speaker 4: gone soon.
Speaker 1: Oh easy, So you don't have to like cough up
Speaker 1: the extra three hundred ishbucks right now, like they're just
Speaker 1: going to even it out for you.
Speaker 4: Yeah, they just take out twenty percent of what you
Speaker 4: would normally get for your childcare subsidy until that amount
Speaker 4: has paid off.
Speaker 1: Okay, I'm not too mad about that. I thought that
Speaker 1: they were going to slam you with a bill that
Speaker 1: you hadn't expected, and I would have been like, guys,
Speaker 1: it's cost of living crisis. Cut that out absolutely, I know.
Speaker 4: But it's frustrating because your childcare subsidy is based off
Speaker 4: your estimate of how much you earn in the year.
Speaker 1: I was about to ask about this.
Speaker 4: And then obviously once you submit your tax return, then
Speaker 4: they even it out. Yeah okay, So essentially they had
Speaker 4: paid us more than what we were entitled to, so
Speaker 4: then we have to pay them back.
Speaker 1: Yeah, okay, that makes sense. While we here talking about childcare,
Speaker 1: as somebody who is looking into childcare at the moment
Speaker 1: and has been horrified at how much it costs, tell
Speaker 1: me about your child care experience. You're in wa So
Speaker 1: what do you pay? Like you said that your bambini
Speaker 1: is in care three days a week, What does that
Speaker 1: look like and what do you get? I need the
Speaker 1: pervy beats.
Speaker 4: So his daycare is a bit more expensive than others
Speaker 4: in our area. So I think it's about one hundred
Speaker 4: and thirty dollars a day. We get back seventy four
Speaker 4: percent of that through the childcare subsidy. And like I said,
Speaker 4: he goes three days a week. We're really lucky that
Speaker 4: we've got our parents on either side have him one
Speaker 4: day a week as well. Oh, very nice, so we
Speaker 4: don't have to pay for those two extra days. But
Speaker 4: basically it's one hundred and thirty dollars a day, we
Speaker 4: get back seventy four. So we end up paying about
Speaker 4: two hundred and thirty dollars a fortnite, which covers him
Speaker 4: for six days. That includes his food while he's there,
Speaker 4: his nappies when he was in the hiss, milk for
Speaker 4: his bottles, and we pretty much just drop him with
Speaker 4: his spat change of clothes and pick him up at
Speaker 4: the end of the day.
Speaker 1: Oh that's a money win. Because some childcare centers don't
Speaker 1: provide food and you have to send them with a
Speaker 1: lunch box, or don't provide formula or nappies. I feel
Speaker 1: like I started this conversation on social media recently because
Speaker 1: in the area that I live in, childcare is an
Speaker 1: elite sport. It is a competition. You have to have
Speaker 1: your name down on the childcare list before the child's born,
Speaker 1: and I found that really jarring. I was like going
Speaker 1: to these childcare center like tour things and looking at
Speaker 1: these childcare centers, going well, I don't know what I'm
Speaker 1: looking for, Like, I don't have any kids. Am I
Speaker 1: even allowed in here? I don't have a working with children.
Speaker 1: I do actually have a working with children's check, but
Speaker 1: you know what I mean, I'm like how are you
Speaker 1: just letting some random walk through your center because they
Speaker 1: said they were pregnant. Anyway, it was interesting seeing the
Speaker 1: difference between one center, which we have gone with, because
Speaker 1: I kind of like the comprehensiveness of it, and I'm
Speaker 1: assuming this is why you might have chosen yours takes
Speaker 1: a lot of mental load off. Like they do the nappies,
Speaker 1: they do the formula, they do the food, like everything
Speaker 1: just made a lot of sense to me. But they're
Speaker 1: more expensive, whereas another place was like, oh, well, you
Speaker 1: supply nappies and a lunch box every day, and I
Speaker 1: was like, oh my god, like I'm literally going to
Speaker 1: be a working mum. That sounds like a commitment that
Speaker 1: I'm not ready for. So absolutely essentially, like if I've
Speaker 1: just done some quick maths, if you're paying one thirty
Speaker 1: a day and you get back seventy four percent, that
Speaker 1: means childcare daily is costing you about thirty three dollars
Speaker 1: eighty thirty four dollars. Yes, so that's not too bad
Speaker 1: when you know, I guess, think about it, how has
Speaker 1: your budget changed because of childcare?
Speaker 4: I guess before he started going three days a week,
Speaker 4: when I had unipracts my mom and my mother in
Speaker 4: law would actually split and have him three days in
Speaker 4: two days, so we didn't have to worry about childcare
Speaker 4: when I was only working part time. It was only
Speaker 4: when I started working full time that we then put
Speaker 4: him in for three days. So it was quite I guess,
Speaker 4: easy in the sense that my income increased dramatically, and
Speaker 4: then we had this additional expense on there as well. Yeah,
Speaker 4: and because he goes the same amount of days every week,
Speaker 4: it's the same amount that comes out every fortnight, and
Speaker 4: I have it set up so that it comes out
Speaker 4: the day that I get paid.
Speaker 1: Yeah.
Speaker 4: Great, the money comes in and then the money's just gone.
Speaker 1: I want to ask more about the childcare stuff because
Speaker 1: one I'm pervy, but two the amount of times I've
Speaker 1: spoken to people that are like, I have no idea
Speaker 1: how this works. So if your baby is going three
Speaker 1: days a week, that means that total without any rebates,
Speaker 1: it's about three hundred and ninety dollars a week. Is
Speaker 1: that what's leaving your account and then you get some
Speaker 1: back through sentiling or do you only have to have
Speaker 1: the thirty three eighty a day leave your account? Like,
Speaker 1: what does that actually? I guess look like cash flow wise.
Speaker 4: So the childcare subsidy comes out before you receive the bill.
Speaker 1: Right, so your bill is going to be that thirty
Speaker 1: three or thirty four ish dollars a day, and then
Speaker 1: you pay for that. So there's no overheads except for
Speaker 1: when centiling goes and does their maths and says, sorry,
Speaker 1: we let you have too much money.
Speaker 4: You owe us money, Yes, exactly. So that was really
Speaker 4: the only reason I found out that I owe them
Speaker 4: your money was because the amount came out and it
Speaker 4: was different than what it normally want. Like, excuse me,
Speaker 4: but it's quite good in the sense that once you
Speaker 4: submit your childcare subsidy claim, unless things change for whatever reason,
Speaker 4: it's just kind of stays there and the childcare deal
Speaker 4: with that and then they just send you what you
Speaker 4: owe remaining after the childcare subsidy.
Speaker 1: Yeah, okay, So have you found that challenging or a
Speaker 1: relatively easy process in comparison? Because I feel completely overwhelmed
Speaker 1: when it comes to childcare. I go, wait, what, like
Speaker 1: this is a lot of money? Is this good? Is
Speaker 1: it bad? Like there's so many conflicting opinions. Are you
Speaker 1: comfy with that? Now that you're in the I guess
Speaker 1: in the process of it.
Speaker 4: Yeah, absolutely. At first, it was a little bit, I
Speaker 4: guess scary because when we went in and decided on
Speaker 4: a daycare, they did pre warn us that submitting a
Speaker 4: childcare subsidy claim can take a really long time. And yeah,
Speaker 4: if you start daycare before your claim has been accepted,
Speaker 4: you have to pay the full amounts and then get
Speaker 4: that money back later.
Speaker 1: That's so expensive. That's why I mentioned cash flow because
Speaker 1: I was like, cash flow is so important. Like, imagine
Speaker 1: if you had to pay the full amount and then
Speaker 1: you just got a refund later. I'd be like, that
Speaker 1: is so unfair.
Speaker 4: No, yeah, it works quite well now that we're set up,
Speaker 4: and I guess in the groove of it. The only
Speaker 4: time we ever pay more is if he needs to
Speaker 4: go for a casual day. But again, that's seventy five
Speaker 4: percent from the childcare subsidy still comes out of casual
Speaker 4: days as well.
Speaker 1: Oh cool, Hey, that's a bit of a money win. Also,
Speaker 1: random question. One thing I learned recently When I put
Speaker 1: my non existent baby down for daycare. It was very
Speaker 1: strange because they're like, you know, is it a boy
Speaker 1: or a girl? And I'm like, I don't know, just
Speaker 1: call a baby divine. Yeah. They're like, do you have
Speaker 1: a name to put down? I was like no, Like,
Speaker 1: it's not even born yet, what are you talking about.
Speaker 1: They said that when we pick days, if you're going
Speaker 1: to do less than a full time schedule, so less
Speaker 1: than five days, one of the days has to be
Speaker 1: a Monday or has to be a Friday. Have you
Speaker 1: found this to be a thing because I originally was like, great,
Speaker 1: I'm going to be relaxed on Mondays. I'm going to
Speaker 1: be relaxed on Fridays, and I will pop my baby
Speaker 1: into care Tuesday, Wednesday, Thursdays. And when I put those
Speaker 1: dates down, they were like, oh no, no, no, one
Speaker 1: day has to be a Monday or a Friday. And
Speaker 1: I was like sorry what, Oh no, I never had that.
Speaker 1: So it's just an elite sport in my suburb, right.
Speaker 4: Yes, yes, just in your suburb. Baby. But we have
Speaker 4: had day care price increases since we've been there. Oh yes,
Speaker 4: So I find usually as the government says, hey we're
Speaker 4: going to increase the childcare subsidy payments, the daycare goes,
Speaker 4: hey we're going to increase our prices, which is totally
Speaker 4: fair in my opinion, but usually we still end up
Speaker 4: paying either just a little bit extra or the same
Speaker 4: as what we were paying before.
Speaker 1: Oh my gosh, I feel like I'm going on and
Speaker 1: on about this childcare conversation, but it is pervy money content. However,
Speaker 1: the thing that really frustrates me about that, because, as
Speaker 1: I said, I've been having a lot of conversation online,
Speaker 1: mainly on Instagram with mums when I post about what
Speaker 1: childcare questions I have is a lot of the educators
Speaker 1: that are messaging me go, hey, did you know that
Speaker 1: every time there is a childcare increase, we don't actually
Speaker 1: increase our income. So the educators are still paid honestly
Speaker 1: like trash, and the childcare centers are just making more
Speaker 1: profit because they're just passing it along to you. Anyway,
Speaker 1: that's a conversation for another time.
Speaker 4: I was just going to say, as a teacher, I
Speaker 4: own quite a lot more than what the daycare workers do.
Speaker 4: But I walk in there to drop myself off and
Speaker 4: I'm like, oh my gosh, how do you even do this?
Speaker 4: Like I can't stay longer than five minutes because I'm
Speaker 4: so overwhelmed by how much work they have to do.
Speaker 1: Exactly, and they're not just doing like work. They're not
Speaker 1: just looking after your baby. They're not babysitters. They're also
Speaker 1: educating a tiny human who doesn't have a very good
Speaker 1: attention span. That's exhausting.
Speaker 4: Absolutely.
Speaker 1: Oh Anyway, I could go on and on, but the
Speaker 1: overwhelming question I have in my head right now, my friend,
Speaker 1: I want to know what's your best money habit?
Speaker 4: So I have everything in my bank account automated. So
Speaker 4: as soon as I get paid, my rent comes out,
Speaker 4: most of my bills come out, and then the day
Speaker 4: after I'm paid is essentially what I'm left to spend
Speaker 4: for the fortnight. So that's been working really well for me.
Speaker 4: It includes my savings and all my bills, so I
Speaker 4: don't have to worry about you know, am I going
Speaker 4: to have enough money a week after I'm paid because
Speaker 4: I get paid and then all my bills are essentially
Speaker 4: paid as well.
Speaker 1: Genius. I love it. That's why I created my money
Speaker 1: masterclass actually, because I think that absolutely everything should be automated. Like,
Speaker 1: if you can automate it, it's like set and forget
Speaker 1: and things are happening in the background, and your money
Speaker 1: is actually working as hard for you as you do
Speaker 1: for it. Yes, how did you work out how to
Speaker 1: create that structure? And is that structure I guess working
Speaker 1: perfectly for you? Like how have you kind of built
Speaker 1: it over time?
Speaker 4: So a lot of it is advice from listening to
Speaker 4: the podcast.
Speaker 1: Oh thank you, My ego is very happy.
Speaker 4: It honestly has really changed my perspective though, because there's
Speaker 4: so many things that I wasn't aware of, and having
Speaker 4: even just separate bank accounts for separate goals or separate
Speaker 4: intents has really helped me as well. It's working relatively
Speaker 4: well in the sense that the money that I want
Speaker 4: to not spend is put into an account which is
Speaker 4: hidden from my online banking, so I cannot touch it.
Speaker 4: The only way that I can get that money is
Speaker 4: if I phone the bank and say, hey, can you
Speaker 4: transfer this money over into my other account?
Speaker 1: Who do you bank with? I need to know because
Speaker 1: I'm going to get questions. People are going to be like,
Speaker 1: how do I set that up? What does that actually
Speaker 1: look like? What bank? Is that not a recommendation?
Speaker 4: No, I am with PNN.
Speaker 1: Okay, I'm sure other banks can absolutely do that for you.
Speaker 1: But it's just helpful to know because people will be like,
Speaker 1: oh my gosh, I want that system. What bank does
Speaker 1: she bank with? So thank you for sharing.
Speaker 4: Well, I just called them one day and said, hey,
Speaker 4: is there a way of making this so that I
Speaker 4: can't access the money? And they said, yeah, sure, we'll
Speaker 4: just block it for you. But I still have the
Speaker 4: acount detail so I can still manually transfer money into
Speaker 4: that account. Great. The thing that I guess I'd like
Speaker 4: to improve is I do have a separate account which
Speaker 4: I have called other Bills, So that's intended for bills
Speaker 4: that come out like quarterly or even annually, you know,
Speaker 4: at my car registration. And what I try to do
Speaker 4: is transfer fifty dollars every fortnight into that so that
Speaker 4: it builds up. The only thing is I have access
Speaker 4: to that account, right if I'm running low on funds
Speaker 4: for the Fortnite, I can go, oh, hey, there's money there.
Speaker 4: And I also did have my emergency fund as an
Speaker 4: account accessible on my online banking because I figured, if
Speaker 4: there's an emergency, I need to be able to access it.
Speaker 4: But the same thing, I would see that money sitting
Speaker 4: there and go, oh, just quickly borrow some of that
Speaker 4: and I'll put it back later. So I actually ended
Speaker 4: up transferring all of that money into my hidden account.
Speaker 1: Knowing that it's just a phone call away.
Speaker 4: Yes, so at the moment, my savings an emergency account
Speaker 4: are actually in one account, but I would like to
Speaker 4: separate them again.
Speaker 1: Yeah great, I love this. I feel like you're across it.
Speaker 1: I'm gonna cheekily gift you my budget and cash flow systems,
Speaker 1: so the money master Class actually, because I feel like,
Speaker 1: if it's not working perfectly for you, I think I
Speaker 1: can make it work perfectly because I'm like, oh, I
Speaker 1: totally get that, but the visibility thing can be really hard.
Speaker 1: But it sounds like with your other bill's account, just
Speaker 1: being cheeky, you maybe haven't done a comprehensive enough budget
Speaker 1: to know exactly how much needs to go into each account,
Speaker 1: which will then lead to you having to dip in
Speaker 1: and out of different accounts. Because I'm assuming it's not
Speaker 1: you going, I'll just borrow that money from here because
Speaker 1: I really want a new jumper. It's probably you going, Oh,
Speaker 1: that bill's popped up. I'll just borrow a bit of
Speaker 1: money from here to go to here. And we actually
Speaker 1: want to track absolutely every single dollar that comes in,
Speaker 1: and my money master Class system does that. It's so comprehensive.
Speaker 1: I think you'll love it, but i'll give that to
Speaker 1: you later. We'll sort that out after we're not on
Speaker 1: the podcast. But for those listening who are going, oh,
Speaker 1: I really want to do that as well. VI, I
Speaker 1: will get just a goat sheet to turn back on
Speaker 1: the pod discount code for this week, and the pod
Speaker 1: discount code is pod five zero to give you fifty
Speaker 1: bucks off. We'll obviously put all the information in the
Speaker 1: show notes, so don't worry. But that's a little bit
Speaker 1: of a money win for the community. You're welcome. Money Diarist.
Speaker 1: Moving on from that, what do you think your worst
Speaker 1: money habit is? Is it that dipping in and out
Speaker 1: of each account or is there another cheeky one to share?
Speaker 4: I think it's sometimes I get caught up in impulse spending,
Speaker 4: usually if it's for my son. So if it's something
Speaker 4: for me, I'm more than happily put twenty four hours
Speaker 4: between me and buying it, and usually buy twenty four
Speaker 4: hours it's completely left my mind, and if it hasn't,
Speaker 4: then then I'll consider whether or not I can actually
Speaker 4: buy it, But if it's something for my son, I'll
Speaker 4: just buy it no matter what it is. It might
Speaker 4: be shoes, it might be closed, it might be a toy.
Speaker 1: I feel like that's going to be me. I need
Speaker 1: to buy song curving this. When I get some that's helpful,
Speaker 1: I'll share it, I promise.
Speaker 4: Yes, please, you know. I want to give him everything
Speaker 4: that he wants. And sometimes it's really hard because I think, well,
Speaker 4: what if it's not there in twenty four hours or
Speaker 4: especially on Facebook Marketplace. When I see a really good deal.
Speaker 1: If it's on Facebook Marketplace, it's probably a money win
Speaker 1: my friend, Yes.
Speaker 4: But it's also probably not something that he needs. But yeah,
Speaker 4: when it comes to my son, I would buy anything.
Speaker 1: Oh my gosh, I feel like that's going to be me.
Speaker 1: And one of the best things that I've ever done
Speaker 1: while pregnant is not find out the gender of my baby.
Speaker 1: So I can't go shopping like I can obviously buy
Speaker 1: white onesies, but I'm out of buying white onesies, and
Speaker 1: now it's kind of like, well, I can't get cute
Speaker 1: girl things or I can't get cute boy things, like
Speaker 1: we're just going to have to wait. And that's been
Speaker 1: a really good money when to be honest, we.
Speaker 4: Did the exact same thing because we didn't really have
Speaker 4: like a nursery decor because you know, we didn't know
Speaker 4: was it going to be a girl. It couldn't be
Speaker 4: a boy. My husband actually ended up painting some little
Speaker 4: animal pictures for the nursery as well, where we're like
Speaker 4: very mixed colors, very gender neutral. So we ended up
Speaker 4: saving money in some senses as well.
Speaker 1: Yeah, great, and find out the gender. It will save
Speaker 1: you money. Great money tip from Sheese on the money.
Speaker 4: And it's such an amazing experience to go through that
Speaker 4: labor and that birth and then to find out the gender.
Speaker 4: It's a really overwhelmingly happy.
Speaker 1: See that's the magic I'm waiting for.
Speaker 4: Yes, it is magic.
Speaker 1: Oh my gosh, I love it all Right, money, dirist. Unfortunately,
Speaker 1: that is almost all we have time for today. Now
Speaker 1: that we've had a chat. I feel like at the
Speaker 1: start you were like, look, I think I'm a bee.
Speaker 1: I was considering a se But I really do think
Speaker 1: I'm a bee after going through all of my teacher criteria,
Speaker 1: which is a very teacher thing to do, my friend.
Speaker 1: But we've just gone through this epic story. Like we've
Speaker 1: talked about domestic abuse, We've talked about your upbringing, how
Speaker 1: that has happened, how that has impacted you. You're the
Speaker 1: first person in your family to go to university. You're
Speaker 1: killing it. You have this son, You've got your budget
Speaker 1: and cash flow system sorted out. You've obviously got your
Speaker 1: two super accounts for good reason, like you know that
Speaker 1: you're meant to have a super account with good insurances
Speaker 1: and one that has good performance. And then you've also
Speaker 1: started doubling in raise, so you're already investing. And you're
Speaker 1: a young mum. You're not even thirty yet. What the heck?
Speaker 1: So looking at all of this, do you still think
Speaker 1: that bee is reflective of where you are? And if so, why,
Speaker 1: If not, what would you change it to?
Speaker 4: Yes? I still think a bee it's just above satisfactory.
Speaker 4: So a BEE is what we consider high but not
Speaker 4: quite excellent. I would like to consolidate my soupers instead
Speaker 4: of paying two sets of fees, So I'd like to
Speaker 4: sit down and go through that. I have a bank
Speaker 4: account for my son which I transfer money into every fortnight,
Speaker 4: but I would like to, I guess, set a goal
Speaker 4: for what amount of money am I hoping for that
Speaker 4: to turn into when he reaches a certain age, and
Speaker 4: then have a better idea of how much I could
Speaker 4: be putting into that. I would also like to think
Speaker 4: about what am I going to do when my pay
Speaker 4: increases as of next year, because there's a seven thousand
Speaker 4: dollars increase that's coming and I don't want to just
Speaker 4: have that seven thousand dollars disappear. I really want to
Speaker 4: think about what am I going to be doing with that?
Speaker 4: And my husband is also going to be getting a
Speaker 4: pay increase around the same time as well.
Speaker 1: Money weir Yeah.
Speaker 4: Thinking about what can we do and is there any
Speaker 4: goals that we want to work towards.
Speaker 1: I love this. I'm actually so glad that during this
Speaker 1: episode we mentioned sky Wealth, because I'm going to set
Speaker 1: you up with them and you're going to get you
Speaker 1: super consolidated and all of that sorted out. And then
Speaker 1: I already told you I'm gifting you the Money Masterclass,
Speaker 1: and that goes through goal setting and making sure that
Speaker 1: you don't fall into the trap of lifestyle creep and
Speaker 1: how to allocate when your pay increases. So I feel
Speaker 1: like I've got this sorted Like you and I are
Speaker 1: going to have a call in like a couple of
Speaker 1: months and you're gonna be like, oh, babe, I'm an
Speaker 1: aa is sweet like, I've got all this stuff sorted,
Speaker 1: so I will be checking in with you, but unfortunately
Speaker 1: that is all we have time for today. This has
Speaker 1: been one of my favorite chats. I feel like money
Speaker 1: diaries are always my favorite, but you have been an
Speaker 1: absolute start. I genuinely feel like we're best friends now,
Speaker 1: and that's the best outcome you can get from a
Speaker 1: money diary. Let's be honest, but my friend, it has
Speaker 1: been an absolute pleasure. So thank you so much for
Speaker 1: joining us, and thank you for being so open about
Speaker 1: your story with our community, because I just know they're
Speaker 1: going to love it, but they're also going to get
Speaker 1: so much out of it.
Speaker 4: Thank you for listening to my story and giving me
Speaker 4: an opportunity to share it. It means a lot.
Speaker 1: The advice shared on She's on the Money is general
Speaker 1: in nature and does not consider your individual circumstances. She's
Speaker 1: on the Money exists purely for educational purposes and should
Speaker 1: not be relied upon to make an investment or financial decision.
Speaker 1: If you do choose to buy a financial product, read
Speaker 1: the PDS TMD and obtain appropriate financial advice tailored towards
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