Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud Order
Speaker 1: Order Kerni Whoalbury and a waddery woman. And before we
Speaker 1: get started on She's on the Money podcast, I would
Speaker 1: like to acknowledge the traditional custodians of the land of
Speaker 1: which this podcast is recorded on a wondery country, acknowledging
Speaker 1: the elders, the ancestors and the next generation coming through
Speaker 1: as this podcast is about connecting, empowering, knowledge sharing and
Speaker 1: the storytelling of you to make a difference for today
Speaker 1: and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 4: Hello, and welcome to She's on the Money the pod
Speaker 4: Castle Millennials who want financial freedom. Welcome back to another
Speaker 4: one of our money dories where I get the absolute
Speaker 4: pleasure of sitting down with one of us She's on
Speaker 4: the Money community members and talking all about their money story.
Speaker 4: Let's jump straight into it, because this week I got
Speaker 4: an email and it sounded exactly like this, Dear, She's
Speaker 4: on the Money team. Growing up in a single parent household,
Speaker 4: I learned the value of hard work and resourcefulness early on.
Speaker 4: My mom and I were always finding ways to stretch
Speaker 4: our money, and that scrappy mindset has stayed with me
Speaker 4: throughout my life, from selling loom bands at the corner
Speaker 4: store to fund my treats as a kid to starting
Speaker 4: a beauty salon with my mum at seventeen while I
Speaker 4: was still in high school. I've always had a hustler's spirit,
Speaker 4: and that entrepreneurial drive has guided me through various business
Speaker 4: ventures and into my current career. Now I'm balancing a
Speaker 4: demanding full time job while studying for a Bachelor of Business.
Speaker 4: I've recently bought my first home, and I'm just about
Speaker 4: to turn twenty one. Money does? What the hell?
Speaker 2: Hello? It sounds pretty cool to listen back to that,
Speaker 2: I must say.
Speaker 4: Are you for real? I thought you were about to
Speaker 4: be like and I'm just about to turn sixty five? Like,
Speaker 4: be for real? You've achieved so much and also blast
Speaker 4: from the past. Loom bracelets, right, I know?
Speaker 2: I know?
Speaker 4: Oh my god, I reckon. I've got one somewhere like
Speaker 4: hidden in the back of a jewelry box that I
Speaker 4: couldn't let go of. How much did you sell those for?
Speaker 2: Like?
Speaker 4: What's a loomband go for?
Speaker 2: Surely fifty cents?
Speaker 4: I can't remember, but not not nearly enough to justify
Speaker 4: the amount of energy that goes into those No way.
Speaker 2: That was definitely passion project for sure.
Speaker 4: Oh my gosh. All right, well, let's dive into a
Speaker 4: money diary. As always, my first cab off the rankers
Speaker 4: money doarist. If I asked you to give yourself a
Speaker 4: money grade from A through to F, what would that
Speaker 4: money grade be?
Speaker 2: Had to think about this. I've been a long time
Speaker 2: listener and I'm going to have to go with a
Speaker 2: solid be a solid bee.
Speaker 4: All right, let's learn more about that. My favorite question
Speaker 4: money deres. Can you tell me a little bit more
Speaker 4: about your money story?
Speaker 2: Yes? So, I would say that my attitude towards money
Speaker 2: has always been quite conscious. I've always been quite conscious
Speaker 2: and calculated with money, and for the most part, I
Speaker 2: probably had a positive relationship with money. But I guess
Speaker 2: on the contrary to that is that I grew up
Speaker 2: with probably what I needed, but not an abundance of money,
Speaker 2: so it was always borrowed from Peter to give to Paul,
Speaker 2: and that's probably transformed into my life now. From a
Speaker 2: scarcity mindset point of view, I think I'm very I
Speaker 2: wouldn't say obsessive, but very conscious of money is probably
Speaker 2: the best word. So I'm always worried if it's going
Speaker 2: to come, if it's going to go, and having enough
Speaker 2: money to pay my bills a thought on my mind.
Speaker 2: And I guess you could say it's a negative mindset.
Speaker 4: And you still think you have a negative mindset.
Speaker 2: No, it's quite positive, but I think maybe a negative
Speaker 2: scenario has influenced where my mindset is now.
Speaker 4: Yeah, and I feel like that makes a lot of sense.
Speaker 4: That's part of our money story, right Like, and for
Speaker 4: us to understand where we are today, we need to
Speaker 4: understand where we've come from and maybe why we have
Speaker 4: certain feelings and thoughts and behaviors around money. Because right
Speaker 4: now you're clearly doing well, Like I'm really excited to
Speaker 4: learn more, but you've just bought your own house and
Speaker 4: like that's so exciting, But you're also like, oh, I
Speaker 4: still have this like scrappy mindset, and like I'm often
Speaker 4: really worried about money, even though maybe that's not if
Speaker 4: we looked at it on paper, Yeah, yeah, that's not
Speaker 4: the reality, but it's also something that still stresses you
Speaker 4: out because inherently you know that has happened historically, right, Yeah,
Speaker 4: so I want to know more. Right now, you have
Speaker 4: a full time job and you're studying, but what do
Speaker 4: you do for work and how much money do you earn?
Speaker 2: I am a human resource manager and at the moment,
Speaker 2: I earn one hundred and fifteen thousand dollars plus super
Speaker 2: and I also have a company vehicle and fuel card
Speaker 2: as well, and then two side hustles. You could you
Speaker 2: could say, so.
Speaker 4: Can we just twenty one? Twenty one? Are you sure
Speaker 4: you're not lying about your age? I mean I can
Speaker 4: see you. You definitely look twenty one, but you're earning
Speaker 4: one hundred and fifteen one thousand dollars plus super plus
Speaker 4: car plus two businesses.
Speaker 2: Yes, yes, math.
Speaker 4: Isn't mathing where it were? You like you will to
Speaker 4: be the oldest soul in the entire universe.
Speaker 2: Honestly, I feel like that, and it's it's my age
Speaker 2: is actually something that I'd say I'm quite conscious of,
Speaker 2: particularly with the you know, negative connotations that come around
Speaker 2: being a young person in a position of with a
Speaker 2: position of responsibility but also a level of authority as well.
Speaker 2: I think it's something I try and hide, and it's
Speaker 2: something when I talk about my age and how much
Speaker 2: I am and I don't really but when I do,
Speaker 2: it's it's definitely one of those things where I go,
Speaker 2: are people going to think that I'm lying? And I
Speaker 2: have to kind of give myself a fact check where
Speaker 2: I'm like, no, you've done.
Speaker 4: That, Yeah, one hundred percent you have. I just am
Speaker 4: so impressed. I think that mine's not coming from a
Speaker 4: question of authority, more like, wow, girl, get it, Like
Speaker 4: that's so sick, share with us, how do we do this?
Speaker 2: Yes? Yes, no, I understand. Yeah.
Speaker 4: I do really resonate with that though, because as somebody
Speaker 4: who started my business at twenty three, that is exactly
Speaker 4: how I felt like. I always felt like the youngest
Speaker 4: in the room and maybe not worthy of being there
Speaker 4: or you know, not smart enough or not experienced enough,
Speaker 4: or you know, not something enough. As always yes, and
Speaker 4: that does make you question whether you're sitting in the
Speaker 4: right room doing the right things and you are where
Speaker 4: you're meant to be.
Speaker 2: Yes, one hundred percent.
Speaker 4: Times you question yourself. And that just reminded me that
Speaker 4: I definitely went through that, and I think it's only
Speaker 4: since I've joined my thirties that I'm really like, no, no,
Speaker 4: I'm exactly where I need to be. And often people
Speaker 4: are still surprised when I say, oh, no, I've been
Speaker 4: in this industry for ten plus years. They're like wait
Speaker 4: what yeah, Or I've been a business owner for this
Speaker 4: long and they're like hold on, like how And I
Speaker 4: think that that's good for me, But it's taken a
Speaker 4: long time for that to settle in.
Speaker 2: Yeah, to get to that and to have the boundaries
Speaker 2: and the ownership of it. Yeah.
Speaker 4: Yeah. So tell me about these two business side hustles.
Speaker 4: What are they, what type of cash hol or do
Speaker 4: they make you?
Speaker 2: So the longer standing one would be so I do
Speaker 2: beauty to alashic sessions and brows on the side. That's
Speaker 2: one of the businesses that I had studied for and
Speaker 2: started when I was in high school. And i've kind
Speaker 2: of you never stopped doing it, right you say, I'll
Speaker 2: give it up, I'll stop doing it, I'll get a
Speaker 2: full time job, and I'll stop doing it, But you
Speaker 2: never truly do. And I still continue to do that,
Speaker 2: but in a reduced capacity. So I do one Saturday
Speaker 2: every month, one every three weeks, and that's eyelash extensions
Speaker 2: and eyebrows, as I said, and that probably brings in
Speaker 2: last financial year was about ten thousand dollars.
Speaker 4: Wow for one day a month of work. Be for real,
Speaker 4: that's very nice.
Speaker 2: Some months only works out to be two Saturdays in
Speaker 2: the month if I'm doing three weekly, but one Saturday
Speaker 2: month sounds better. When I'm managing my life.
Speaker 4: I feel like I'm someone who gets their lashes and
Speaker 4: brows done religiously every three weeks. That would work for me.
Speaker 4: So do you just have a consistent role of like
Speaker 4: clients who just come every three weeks for their lash
Speaker 4: refill or their extensions and go from there.
Speaker 2: Yeah. Literally, when I decided to do that, I kind
Speaker 2: of put a you know, who wants morning, who wants afternoon?
Speaker 2: And I had to reduce obviously my SKO clients people,
Speaker 2: so I picked my top five if I can say that. Yeah,
Speaker 2: they're just all on a rotating basis now. So they
Speaker 2: just pre booked and they know, like they can plan
Speaker 2: their lives. They're like, right, every three weeks is my lashness.
Speaker 2: I'm not going on.
Speaker 4: But if you don't make it, we're not doing a
Speaker 4: makeup one. Sorry about that?
Speaker 2: Yes, yes, literally, I'm like, sorry, you gotta wait six
Speaker 2: weeks then?
Speaker 4: Yeah, oh my gosh, all right, so that brings in
Speaker 4: another ten grand a year. What's your second side hustle?
Speaker 2: The second one is only quite recent, but I started
Speaker 2: doing disability support work on a Saturday for one of
Speaker 2: my mom's clients. So yeah, that's kind of infrequent and
Speaker 2: when she needs the support. But that has only been
Speaker 2: in this financial year, so I'm not really positive on
Speaker 2: what it would bring in in a year capacity, but
Speaker 2: it's it's just a little bit extra.
Speaker 4: So what type of extra is that?
Speaker 1: Like?
Speaker 4: If we said that you do like maybe one Saturday
Speaker 4: a month, how much do you expect to get paid
Speaker 4: for that Saturday.
Speaker 2: I don't have good kind of numbers to work off
Speaker 2: one Saturday. I earned nine hundred and oh my good
Speaker 2: dollars because it's Saturday rate right.
Speaker 4: Oh okay, for nine hundred and fifty bucks, I'm there.
Speaker 4: I'm there for eight and.
Speaker 2: A half hours though.
Speaker 4: That's just that's a normal day's work. Yeah, pretty goodol,
Speaker 4: Oh my god, I'm not mad about that. So that
Speaker 4: could potentially let's say that you do like that once
Speaker 4: a month. That's about the same as your lash and
Speaker 4: brow business.
Speaker 2: Yeah, it is, it is. I don't think I'll be
Speaker 2: doing like that many hours again, but even four hundred
Speaker 2: dollars a month maybe, but it all goes towards a
Speaker 2: little extra purpose.
Speaker 4: Yeah, I feel like that's really nourishing work as well.
Speaker 4: It is being able to help, Like I just I
Speaker 4: feel like I'd get a lot out of that. So
Speaker 4: I'm glad that you get to do that. So you've
Speaker 4: just bought your first house. You're doing all of this work, Like,
Speaker 4: I'm very impressed thus far. Tell me, what are your
Speaker 4: current big money goals? You bought the house, so what's next?
Speaker 4: What are we working towards?
Speaker 2: You already sound like you know me. I can't stop.
Speaker 2: What's next?
Speaker 4: That's me though, like cut paste. I mean, I definitely
Speaker 4: didn't do it this successfully, this young, but I'm like,
Speaker 4: she's me. I am her.
Speaker 2: It's actually funny because my friends always say that I
Speaker 2: remind them of you, or vice versa.
Speaker 4: I already know that we'd get along really well. Yes,
Speaker 4: if you were in the same state as me, even
Speaker 4: though there's literally more than ten years difference between the
Speaker 4: two of us, I feel like we'd get along very well.
Speaker 2: We will, definitely, But my upcoming big money goals is
Speaker 2: obviously to one continue paying down the mortgage. When I
Speaker 2: can see how much of our monthly repayment is going
Speaker 2: towards interest, it's very sad, So continue snatching that down
Speaker 2: as much as we can. But also I really want
Speaker 2: to start consciously making an effort into investing. So one
Speaker 2: thing that you've always said that is stuck with me
Speaker 2: is that the second best thing to timing the market
Speaker 2: is time in the market. And I think it.
Speaker 4: Going to work for me. Like you would be a
Speaker 4: great advocate, like cut paste perfect. You're really well spoken.
Speaker 4: I think you'd be great on a podcast. If you
Speaker 4: ever want to be on the show, let me know.
Speaker 2: It's so funny. You should actually hear me in my
Speaker 2: day to day life. I'm like, have you listened to
Speaker 2: shoes on the morney? Have you heard of them? Listened
Speaker 2: to them? Learn? Oh?
Speaker 4: I love this, but a conscious effort to invest, Oh
Speaker 4: my god, you're twenty one, Like, oh, you could invest
Speaker 4: and have so much time ahead of you, like you
Speaker 4: are where every single one of our listeners wants to be.
Speaker 2: Yes, And I think that's on the plus side for
Speaker 2: me is that I have the time. But for me,
Speaker 2: up until buying the house, my biggest priority was always
Speaker 2: to have as much money in my bank account so
Speaker 2: that I could buy the property. So now that I've
Speaker 2: got it, I want to start. Yes, just having a
Speaker 2: reoccurring deduction, even if it's two hundred dollars a month,
Speaker 2: you know, you start small and just see that money
Speaker 2: go out and be working towards something. And last money
Speaker 2: goal immediately working towards is I'm actually going to Europe
Speaker 2: in October.
Speaker 4: Oh my gosh, exciting whereabouts in Europe? You're going?
Speaker 2: It's actually a work so they do pay for me
Speaker 2: to go. But yeah, yes, we have international hr days
Speaker 2: because it's a global business that I work for.
Speaker 4: Okay, Yeah, I'll head to Belgium okay, nice for some yeah.
Speaker 2: And then I will take two weeks off annual league
Speaker 2: while i'm over there. So I'm planning to do London, Paris,
Speaker 2: Amsterdam and then on the way back spend the night
Speaker 2: in Dubai so that I can see as much as
Speaker 2: possible within the two weeks.
Speaker 4: So, oh my gosh, I've got so many recommendations for you.
Speaker 1: Yeah.
Speaker 4: Yeah, I have just gotten back from London and pass
Speaker 4: like I will send all of my favorite ones and
Speaker 4: all my money tips and tricks.
Speaker 2: Please.
Speaker 4: I feel like you love it. I feel like your
Speaker 4: business is shooting themselves in the foot, though, because by
Speaker 4: having an international HR day, who in your team is
Speaker 4: not taking two weeks off at exactly the same time? Right,
Speaker 4: They're going to lose half their workforce by taking them
Speaker 4: overseas because I'm not going over season, They're not making
Speaker 4: the most of it. Like everybody is out.
Speaker 2: Only I guess regional people or department responsible people will
Speaker 2: go though.
Speaker 4: Yeah, so all that the big dogs are out of
Speaker 4: the office at the same time. I like that. I
Speaker 4: mean that's their problem, not ours, babe. That is a
Speaker 4: them problem. They need to deal with that. Yes, all right,
Speaker 4: let's go to a really quick break before I get
Speaker 4: further off track. And on the flip side, I want
Speaker 4: to ask you more perfect questions. I'm going to ask
Speaker 4: you how much you spent on your house. I'm going
Speaker 4: to be asking about your investment plans. I want to
Speaker 4: know about your total debt and best and worst money habits,
Speaker 4: So guys, don't go anywhere money diarist. We are back,
Speaker 4: and I am very excited about this episode. I feel
Speaker 4: like you are so young and have achieved so much.
Speaker 4: It's arguably very unrelatable, but I think we can learn
Speaker 4: a lot from you. So diving straight back in, you
Speaker 4: mentioned before that you want to consciously start investing because
Speaker 4: you know that time is on your side and the
Speaker 4: second best thing to timing the market is time in
Speaker 4: the market. So what progress have you made towards that goal?
Speaker 4: What are your thoughts around this? How are you going
Speaker 4: to invest? What does that look like?
Speaker 2: So? I currently have one thousand dollars invested in ETFs,
Speaker 2: So I just have two. I used to work for
Speaker 2: a tech company and it kind of made me realize
Speaker 2: how much development in that space is still yet to come.
Speaker 2: So I invest split between the ASX top two hundred
Speaker 2: and also between I think it's the top one hundred
Speaker 2: tech companies as well.
Speaker 4: Okay, that is.
Speaker 2: Where I'm currently sitting in with that one thousand dollars,
Speaker 2: and I think, to be honest, I will continue to
Speaker 2: invest into those two more so prioritizing the top two
Speaker 2: hundred ASX because historically, over one hundred years, it's still
Speaker 2: positively gone on the upward trajectories.
Speaker 4: You're going to be a financial advisor next, I just
Speaker 4: know it.
Speaker 2: It's actually not so funny you say that, because I
Speaker 2: almost added financial planning to my degree as a second major,
Speaker 2: but they weren't compatible with HR management. But I am
Speaker 2: definitely interested in that space.
Speaker 4: I mean, I did psychology and ended up here. It's
Speaker 4: a slippery slope one so you start caring about money. True, True,
Speaker 4: you go completely off track and you end up a
Speaker 4: financial advisor. Worst you could become a mortgage brokup. My god,
Speaker 4: but it is so fun. I want to know more
Speaker 4: about this investing journey though, because over the weekend I
Speaker 4: was actually talking to someone on Instagram and they were
Speaker 4: messaging me and going, hey, v oh my gosh, I'm
Speaker 4: really struggling, like I'm picking a platform this weekend. I'm
Speaker 4: going to be investing. Obviously, I can't give advice, so
Speaker 4: it's just having a chat and being like, okay, well
Speaker 4: have you thought about, you know, maybe doing some more googling?
Speaker 4: And I wish I could dive in and be like,
Speaker 4: this is my recommendation, this is how this works. But
Speaker 4: even if I had that, it might not fit. So
Speaker 4: not ethical. But I want to note you've obviously put
Speaker 4: your thinking hat on. You've invested into ETFs, which means
Speaker 4: you've got even more diversification than just one ETF. You've
Speaker 4: picked a top two hundred one and like a tech one.
Speaker 4: What about platforms, Like when you were going I want
Speaker 4: to invest, what did that look like.
Speaker 2: I am still currently but I was with Comwealth Bank
Speaker 2: and so at the time, I just decided to go
Speaker 2: with Comseck. I know that the trading fees were a
Speaker 2: little bit higher, but I decided to go with comsex.
Speaker 2: So that is the platform that I'm currently in. I
Speaker 2: also use I don't know if I mentioned, but I
Speaker 2: have five hundred dollars in crypto, so I use bitcoin.
Speaker 4: Oh no you didn't. How cool?
Speaker 2: Yep, controversial, but yeah, I have five hundred dollars and
Speaker 2: invested into coinspot as well. And I guess for me
Speaker 2: it was totally more convenience. I had heard of, you know,
Speaker 2: Chaersea's and Vanguard and that type of stuff, But for me,
Speaker 2: I was already with Combank and they just literally deducted
Speaker 2: it out of one of the bank accounts that I
Speaker 2: had set up already, so it was easy for me.
Speaker 4: It makes sense, and it's actually just about what you're
Speaker 4: most comfortable with the end of the day. Obviously, there
Speaker 4: are a million different platforms that you could choose from,
Speaker 4: and it's like I don't care what platform you're on,
Speaker 4: as long as you like it, it makes sense to you,
Speaker 4: it's got user like features that make sense to you,
Speaker 4: and you're actually investing. I could not care less. So
Speaker 4: it's more I want to know what are you using,
Speaker 4: because I think a lot of us listen to these
Speaker 4: episodes and we're like, oh, she said, she invests, but
Speaker 4: like where, when? Why?
Speaker 2: How?
Speaker 4: Like how did she get there? Because so many of
Speaker 4: us get that like analysis paralysis at the start of
Speaker 4: well do I do it? Well, I just looked at comseck.
Speaker 4: I listened to that money direst she said. She was like, oh,
Speaker 4: maybe that's not for me. And then you're weighing up
Speaker 4: all your options. Did you get analysis paralysis at the
Speaker 4: start of your investing journey? Like how long did it
Speaker 4: take before you said I think I'll invest to actually
Speaker 4: pulling the trigger?
Speaker 2: Definitely, And I still feel as though I'm somewhat actually
Speaker 2: in that analysis paralysis, And that's why I haven't dedicated
Speaker 2: a portion of my monthly say things towards investing. Yeah,
Speaker 2: in the beginning, I definitely did, but I was just
Speaker 2: started with what I was comfortable with losing, because at
Speaker 2: the end of the days is still a risk. So
Speaker 2: at that time five hundred dollars. Whilst it would be
Speaker 2: sad to see.
Speaker 4: It go, it not be the end of the world
Speaker 4: for you.
Speaker 2: Yes, exactly want to be the end of the world.
Speaker 2: And one last password to remember. To be honest, I
Speaker 2: can't remember another password.
Speaker 4: Oh, don't start me own passwords. I've just downloaded last
Speaker 4: pass to keep track of all my passwords because at
Speaker 4: this point I just can't be trusted now I can't remember,
Speaker 4: So tell me more. We're going to jump into debt.
Speaker 4: Now you've mentioned that you bought your first home first,
Speaker 4: can you tell me a bit more about that journey.
Speaker 4: How does someone at twenty one buy their first home?
Speaker 4: Because I don't know if you know, but right now
Speaker 4: we're in the middle of a cost of living crisis
Speaker 4: and like everything's really expensive and interest rates her through
Speaker 4: the roof. How did you get together a deposit? What
Speaker 4: did that look like? And how did you purchase your
Speaker 4: first home?
Speaker 2: It's such a hard question when people ask me that
Speaker 2: it really takes so much thought. But I guess from
Speaker 2: the age of fourteen, I've had a job and I
Speaker 2: have probably always had that mindset of giving myself fifty
Speaker 2: dollars a week to spend and anything left over is
Speaker 2: say things. And truly, even from when I was earning
Speaker 2: one hundred dollars a week, I'd still give myself fifty
Speaker 2: dollars for fun, for whatever I was doing at fourteen,
Speaker 2: and the other fifty dollars would always be saved.
Speaker 4: So I have who taught you that? Who taught you that?
Speaker 2: Like?
Speaker 4: How did you have that self discipline?
Speaker 2: I don't know, and I don't know where it's come from,
Speaker 2: but I think tying back to when we first started
Speaker 2: having that scarcity mindset, I always wanted to have something
Speaker 2: left over, and the reason that I got my first job,
Speaker 2: I still it's a pivotal memory for me, is that
Speaker 2: I wanted to be able to put money on my
Speaker 2: go card so that my mom didn't have to worry
Speaker 2: about it.
Speaker 4: So you love that.
Speaker 2: That's probably a core memory that stuck with me. But
Speaker 2: in terms of how I got that mindset, I would
Speaker 2: say probably come from the scarcity mindset around it wanting
Speaker 2: to have back up in case I needed to give
Speaker 2: it to my mom or in case I had a
Speaker 2: bill that was unexpected. I don't know what bills I'm
Speaker 2: having it four, but that.
Speaker 4: You might, but that's stressful, and you probably saw your
Speaker 4: mum have unexpected bills and you were like, well, I
Speaker 4: don't want to be in that position. And I know
Speaker 4: that the answer to that is actually having cash available,
Speaker 4: so I'm going to do that.
Speaker 2: Yes percent, So then yeah, I just continued to save,
Speaker 2: and that transformed into the more that I owned, the
Speaker 2: more that I saved. And probably you know, a good
Speaker 2: habit that I do have is the less outgoing, the better.
Speaker 2: So even every year now, I still review how much
Speaker 2: I'm paying for insurance or my phone bill, and the
Speaker 2: most that I can reduce that buy is better. No
Speaker 2: matter how much I earn, I want minimal expenses because
Speaker 2: then the money leftover I can do whatever I want.
Speaker 4: I love that, So tell me more about this property.
Speaker 4: What did you save for a deposit, what did you
Speaker 4: purchase for and what's your current debt.
Speaker 2: I actually used one of the first home buyers schemes.
Speaker 2: I know you'll be happy.
Speaker 4: So smart. Oh, I love that. I love that. I
Speaker 4: was talking about it yesterday at work, like there's a
Speaker 4: few schemes at the moment that we've got a couple
Speaker 4: of clients, like doubling up on and I'm like, this
Speaker 4: is great, Like it's like it just feels like the
Speaker 4: biggest hack in the world.
Speaker 1: Right.
Speaker 2: Yes, yes, especially the free stamp duty for first home
Speaker 2: buyers now in Queen Zone under seven fifty that we
Speaker 2: just missed out on. So I think in total, yes,
Speaker 2: we use the five percent deposit government guaranteur scheme because
Speaker 2: for us, location mattered and I knew that we'd need
Speaker 2: to purchase a home that required work, so I wanted
Speaker 2: to keep some of our savings in reserve so that
Speaker 2: we can do up the house. And my partner is
Speaker 2: a carpenter, so he can also do the reinose. So
Speaker 2: how good. Yeah, I think in total with the stamp duty,
Speaker 2: I think it was about fifty just over fifty thousand
Speaker 2: dollars we were required for our deposit there, and we
Speaker 2: ended up purchasing. Initially we offered six eighty five, but
Speaker 2: then we're able to do a little bit of negotiations.
Speaker 2: I put my big girl pants on and knocked it
Speaker 2: down to six sixty after building in pest, So that's
Speaker 2: the final price that we paid.
Speaker 4: So you purchased for six sixty. What's your mortgage currently
Speaker 4: sitting at and how long have you had it for it.
Speaker 2: Is currently sitting at just over six hundred thousand, and
Speaker 2: we've had it since April.
Speaker 4: Oh, very nice. And how does that feel when interest
Speaker 4: rates are arguably a lot higher than they used to be?
Speaker 4: I mean, thankfully you probably purchased when the interest rates
Speaker 4: were much higher than you know, one or two percent,
Speaker 4: so it wasn't as rude of a shock. But how
Speaker 4: now you're paying a mortgage? Are you managing pretty good?
Speaker 2: I mean with an offset that we now have attached
Speaker 2: to our mortgage. For me, I thought, if I'm buying
Speaker 2: at the top of the peak, or if I if
Speaker 2: I'm buying where interest rates are quite high, then if
Speaker 2: they ever come down, then it will just be positive
Speaker 2: money that we can be adding towards paying down the mortgage.
Speaker 2: So it is scary, like seeing how much money goes
Speaker 2: out every week and you think, oh my god, is
Speaker 2: it really one thousand dollars a week in repayments? But
Speaker 2: I know that, yes, something has to changed. Well I
Speaker 2: believe that something has to change, and hopefully it won't
Speaker 2: be like that for the whole next thirty years of
Speaker 2: our lone life. But yeah, we manage.
Speaker 4: It's crazy, right, all right? Well, I'm honestly so shook
Speaker 4: this far, Like I just feel like you have made
Speaker 4: the most of it. Like, first question, before I get
Speaker 4: to my structured question, what's your mum think of this?
Speaker 4: Like is she just like super proud because coming from
Speaker 4: a single parent household and knowing the money story of
Speaker 4: most single parents, like it's bloody hard, Like you're cutting
Speaker 4: your teeth, you're working extra hours, you're doing the most
Speaker 4: to put your kid in the best possible position, and
Speaker 4: like so many times you see single mums doubting themselves
Speaker 4: and feeling like they're not doing the right thing because
Speaker 4: the kid didn't have, you know, the shiniest thing at
Speaker 4: school and all the other kids had that, and you
Speaker 4: just I can see that mums crucify themselves over this,
Speaker 4: but you've kind of like come through this. How's your
Speaker 4: mom feel now about all of this? Because like if
Speaker 4: I was your mum, holy moly, I'd be so proud.
Speaker 2: Thank you. It's actually funny. I had told my mom
Speaker 2: that I'm coming onto this podcast, and I'm like, oh,
Speaker 2: but you know, they might not believe me, Like it
Speaker 2: sounds pretty wild when I say all this stuff back
Speaker 2: and she's like, no, you did this you own it.
Speaker 2: You literally are the one who worked for it. No
Speaker 2: one handed you anything. So she is super proud. And
Speaker 2: she always says that I've raised a savage and you
Speaker 2: know that. Actually, yes, yeah, so no, she is super proud.
Speaker 2: And I do owe you know, a lot of it
Speaker 2: to her in fostering I guess my mindset from the beginning.
Speaker 2: She would obviously sit out the front whilst I sold
Speaker 2: the loom bands and whatever crazy idea that I had.
Speaker 2: I think I even sold ear rings like I made
Speaker 2: ear rings from eBay. I used to glue the backs
Speaker 2: onto the little rose and sell them at her salar.
Speaker 4: Oh my gosh.
Speaker 2: I love that she really fostered that mindset, and I
Speaker 2: think that's a lot of I've transformed to continue to
Speaker 2: have that mindset. Now, she could have very easily probably
Speaker 2: squashed that mindset and said no, don't be ridiculous, and
Speaker 2: I would have been a lot more confined. So yeah,
Speaker 2: I have a lot of empathy and I owe a
Speaker 2: lot of it to her. Yeah.
Speaker 4: Oh, I love that. I hope she listens to this,
Speaker 4: and here's to hi mum. Also, while you're here, can
Speaker 4: you send me all your parenting tips, because I too
Speaker 4: would like to raise a savage like that's that's where
Speaker 4: my mindset is at right now. I'll take all the tips,
Speaker 4: all the tricks, thank you, and spy, I have to
Speaker 4: ask your daughter some more questions. Now, money Diarist back
Speaker 4: to you. What's your best money habit?
Speaker 2: I would say probably that I'm naturally drawn to the
Speaker 2: cheapest price, which is not always good. But I'm naturally
Speaker 2: drawn to the sale sticker or the items that are
Speaker 2: on sale. I mean, every Monday six pm, Woollies releases
Speaker 2: the catalog for the specials for the following.
Speaker 4: Week, and I show, Oh my gosh, you even know
Speaker 4: the time. I'm obsessed with you. It's my I would
Speaker 4: do you know what I read them? Wouldn't be able
Speaker 4: to tell you when they come out, Like, so you're
Speaker 4: telling me six pm on a Friday? Is that right?
Speaker 2: On a Monday?
Speaker 4: Sorry? Six pm on a Monday? All right, I'm going
Speaker 4: to put it in my diary.
Speaker 2: Yeah, And then the specials begin from the Wednesday, so
Speaker 2: you've got a bit of time to protect you.
Speaker 4: Spend time to make your budget yep, yep, and shop online.
Speaker 2: Use the Woolies app because you can see how much
Speaker 2: you're spending, whereas when you go into the shop, you
Speaker 2: just chuck stuff into your cart and then you're like
Speaker 2: me two hundred bucks later, so oh my gosh.
Speaker 4: So do you then see all the specials on a
Speaker 4: Monday and go all right, well, I can see the
Speaker 4: beef's on sale, like I'm going to make beef dishes
Speaker 4: this week? Is that what happens? And then if you've
Speaker 4: got like a repertoire of recipe, like how does this work?
Speaker 4: And how are you twenty one?
Speaker 2: Again? What what I do is we cook dinners at
Speaker 2: home Sunday through to Thursday, and I plan all of
Speaker 2: the meals based on what's on sale. So I like
Speaker 2: a certain butter chicken, so if it's half priced, we're
Speaker 2: having a pot of chicken for the week.
Speaker 4: And it's right, buy.
Speaker 2: Your chicken breast from the deli, not in the package section,
Speaker 2: because it's ten dollars eleven dollars a kilo, not seventeen
Speaker 2: dollars kio.
Speaker 4: So what is that the price difference?
Speaker 2: Yeah? For really, yeah, it's like eleven dollars for chicken
Speaker 2: breast at the deli. I kind of wash it because
Speaker 2: it looks a little bit, you know, slimy, But that's
Speaker 2: so controversial.
Speaker 4: Actually, I feel like I was having this conversation with
Speaker 4: a friend the other day and I always wash my
Speaker 4: meat like I'd like, rinse my chicken. I don't rinse
Speaker 4: steak funnily enough, but I rinse my chicken and all
Speaker 4: my seafood.
Speaker 2: I do that. I do the same.
Speaker 4: And she was like, why do you do that? Like
Speaker 4: you're cooking it anyway, and I'm like, nop, nop, that
Speaker 4: slimy stuff got to go make.
Speaker 2: Them feel better. Yeah, one hundred percent. So yeah, probably
Speaker 2: just that I have always been money concious. Even when
Speaker 2: I go out for dinner, I don't get a drink,
Speaker 2: not because I'm depriving myself of being thirsty, but because
Speaker 2: I don't need the coke, I don't need the whatever.
Speaker 2: I'll just have the tablewoader. It's all good.
Speaker 4: So yeah, she's savvy.
Speaker 2: Savvy.
Speaker 4: That's my god, savvy. I love it. It's really specific too,
Speaker 4: like it's not it's like, all right, so Monday like
Speaker 4: money habit. People are usually like less specific. They're like,
Speaker 4: I'm pretty good at budgeting and I go, okay, cool,
Speaker 4: and you're like no, no, no, So my best budgeting hack
Speaker 4: is at six pm on mondays, the Woolies Catalog comes out,
Speaker 4: and you can then budget so that Wednesday you purchase
Speaker 4: your groceries and you are done. You're an icon. I
Speaker 4: know that other people are going to start doing this.
Speaker 4: I love this.
Speaker 2: I hope that it helps someone.
Speaker 4: You're a genius.
Speaker 2: All right.
Speaker 4: Now tell me your worst money have Do you even
Speaker 4: have worst money habits?
Speaker 2: I do? I do. And the one thing that I'm
Speaker 2: super conscious of is probably sometimes I get into this
Speaker 2: yolo mindset. I'm like, yeah, I work really hard, and
Speaker 2: I you know, I work hard for my money, and
Speaker 2: I save a lot of money every month, and sometimes
Speaker 2: I deserve it. Let's just buy a jet ski. And
Speaker 2: so I've owned two jet skis and I still have one.
Speaker 4: Sorry what I did not see? Sorry? Sorry, sorry, sorry,
Speaker 4: just a backtrack. We were just talking about how good
Speaker 4: you were at the Woolies Catalog and then you're like,
Speaker 4: jet skis.
Speaker 2: What? Yeah, oh gosh, it's pretty funny.
Speaker 4: Do you ride these jet ski Like? Please tell me
Speaker 4: how this fits into your lifestyle? Do you live by
Speaker 4: the water, Like, tell me more.
Speaker 2: I do. I do. I live like five minutes from
Speaker 2: the water, So yeah, I do. I do ride them. Well,
Speaker 2: during summer, but I'm actually selling it. I buy them,
Speaker 2: I have some fun, and then I sell them to
Speaker 2: They don't go down because it's definitely not an asset.
Speaker 2: They cost a lot of money, but it's fun. So
Speaker 2: this is what I mean by these yolo mindsets. I go, ah,
Speaker 2: it's all.
Speaker 4: Great, okay, So tell me more about this jet ski.
Speaker 4: I need to know. I don't even know what a
Speaker 4: jet ski costs, what's a jet ski class, how does
Speaker 4: it work? How much does it cost you to run?
Speaker 4: Tell me all of it and how often do you
Speaker 4: even use this? Because at the start of this episode,
Speaker 4: you're earning one hundred and fifteen thousand dollars plus super
Speaker 4: plus a car, plus you have a beauty business, plus
Speaker 4: you do disability support work. When a you're riding this
Speaker 4: jet ski bag.
Speaker 2: Well, that's my problem is I get into this mindset.
Speaker 2: I'm like, yeah, well then I go every Sunday and
Speaker 2: then Sunday comes around and I'm busy. So a jetski
Speaker 2: it depends, like you know, you can get a brand
Speaker 2: new one for twenty five thousand dollars, but I'll just
Speaker 2: get my Facebook marketplace and I think I got it
Speaker 2: for like thirteen thousand, the most recent one, and I
Speaker 2: hope to sell it for the same, okay, but in summer,
Speaker 2: so I'm holding it until summer because that's when they're
Speaker 2: worth more. Right now, people don't want to buy jetskis
Speaker 2: because it's winter.
Speaker 4: Okay. She's an investing icon. She she knows how to
Speaker 4: invest in money.
Speaker 2: It's just sitting there at the moment in the yard.
Speaker 4: You're a jet ski flipper, yes.
Speaker 2: Yes, yes, my first time that I've ever owned. I
Speaker 2: sold for five hundred dollars more than I bought it for.
Speaker 4: So okay, so you got paid to go riding jet
Speaker 4: ski basically, not just petrol cost in a jet ski.
Speaker 2: It's probably like I put fifty dollars in, or like
Speaker 2: I'll fill up the tank before I go out every
Speaker 2: time close. If I get stuck in the ocean, I
Speaker 2: need a full tank, So probably fifty dollars. So that's
Speaker 2: what I mean is it's not it's not very smart
Speaker 2: financially though, to fill it up every week fifty bucks,
Speaker 2: and then if you get insurance.
Speaker 4: All I do the same. There's absolutely no chance that
Speaker 4: I would be riding a jet ski that didn't have
Speaker 4: a full tank like I'm in the ocean, Like, no
Speaker 4: one's going to drive past and be like, do you
Speaker 4: need a lift?
Speaker 2: Exactly exactly right? And then yeah, if you have insurance
Speaker 2: on them, it's like three hundred dollars a month.
Speaker 4: Wait, what three hundred dollars a month? Three insurance on
Speaker 4: a jet ski.
Speaker 2: Because of how many accidents happen on them in the water.
Speaker 4: Wow, So tell me about this. So we're holding our
Speaker 4: jet ski, We're going to sell it coming into summer. Yes,
Speaker 4: that's quite smart. Would you buy another jet ski?
Speaker 2: No? No, I need to keep that money in our
Speaker 2: offset and be working hard for me because this interest
Speaker 2: that I'm paying every month is very sad of me.
Speaker 4: What are you going to do instead of jet ski?
Speaker 4: Because I feel like you've got this like adventurous spirit,
Speaker 4: You're going to need some kind of outlet. What's that
Speaker 4: going to be?
Speaker 2: I don't really use it now? Okay, Yeah, so I
Speaker 2: kind of feel like I'll be all right. I just
Speaker 2: go for go to the gym, get a coffee, go
Speaker 2: for a walk, climb a mountain instead, maybe swim in
Speaker 2: the ocean instead of ride on the ocean.
Speaker 4: See, this is a really good example of how you
Speaker 4: can never predict someone's worst or best money habits or
Speaker 4: what's going to come out, because had we tried to
Speaker 4: play a game of guessing, we would have been wildly inaccurate. Yes, yes,
Speaker 4: and I guess that's why I love money doughs. Okay,
Speaker 4: So at the start of the episode, you told us
Speaker 4: that your money grade was a solid Bee. Now I'd
Speaker 4: probably argue with that because in my mind, you're still
Speaker 4: twenty one and you are killing it at life. But
Speaker 4: I want to know a bit more about why you
Speaker 4: think you're a bee and what it might take to
Speaker 4: get you to an a play.
Speaker 2: It's probably still this frivolous or like yolo mindset that
Speaker 2: I keep referring to. Is sometimes I go, ah, I
Speaker 2: need some new running shoes, let's just do it. I
Speaker 2: have implemented a system that I have just done, but
Speaker 2: hopefully that will help in aiding me to have more
Speaker 2: just a little bit of barriers around that. So the
Speaker 2: money that I earn from lashes, I get it out
Speaker 2: into cash and I have one of those cash books,
Speaker 2: and they each have a different purpose. So one's like
Speaker 2: shopping and one's like beauty or miscellaneous or whatever. One
Speaker 2: of them is also yeah, miscellaneous because I'm paid monthly,
Speaker 2: but some months there's five weeks or there's an extra Wednesday,
Speaker 2: and I'm paid on the last Wednesday every month, and
Speaker 2: then I put money away for that. So I think
Speaker 2: it's budget based on four weeks. Makes it feel like
Speaker 2: I'm saving more.
Speaker 4: Yeah, no, that's fair. What's your budgeting system look like
Speaker 4: right now for.
Speaker 2: The side hustle money or including.
Speaker 4: Everything everything okay? Or if you've got separate budgets for
Speaker 4: each income I do? Is that what I'm hearing? Right?
Speaker 4: So tell me more about this.
Speaker 2: So the beauty money as well as the disability support money,
Speaker 2: when it does come through, I get it out some
Speaker 2: people paying cash, but if not, I get it all
Speaker 2: out in cash, and I put it into this little book,
Speaker 2: so I will divide it between ones for investing, ones
Speaker 2: for shopping, and that way, when I want to shop,
Speaker 2: if I don't have money in my little pouch, I
Speaker 2: can't go shopping. Instead of developing this frivolous oh, I
Speaker 2: don't put money away for shopping, I've started to do
Speaker 2: that and that that way, that money feels like it's
Speaker 2: working towards something fun, not paying for bills, and then
Speaker 2: my normal salary can be well, obviously, Yeah, I send
Speaker 2: a certain amount to my bill's account, and that's purely
Speaker 2: because I don't want them coming out of my offset account,
Speaker 2: just a way to help me feel better like I'm
Speaker 2: still managing my money. I know that the more money
Speaker 2: in there the better, and then the rest.
Speaker 4: No, that makes sense. We've also got to have like
Speaker 4: a healthy mind set around our money, and if it's
Speaker 4: stressing us, it's not worth it.
Speaker 2: Yes, yes, that's right. And I'm like the extra few
Speaker 2: dollars of interest that I might have saved for the
Speaker 2: sanity that it gives me to make me feel in
Speaker 2: control of my money. I'll let it be now.
Speaker 4: I don't know if you know this or you need
Speaker 4: to talk to your broker about this, but if you
Speaker 4: currently have an offset, there is a very high chance
Speaker 4: that you're allowed multiple offsets, So you might be able
Speaker 4: to establish a few more offsets so that you can
Speaker 4: still separate your business and not feel too bad. But
Speaker 4: you're still making the most of the interest, but it
Speaker 4: is segregated and it doesn't feel like it's coming out
Speaker 4: of your quote savings account. But while it's sitting there,
Speaker 4: it's still offsetting your interest, So that might be something
Speaker 4: that you ask your broker about gotch because that might
Speaker 4: be really sexy.
Speaker 2: Yes, and I think we do.
Speaker 4: You still want it separate, and I totally get that.
Speaker 2: I still want it separate, but I think we may.
Speaker 2: We did speak about this, and we have to split
Speaker 2: the loan in order to have two offsets, or you
Speaker 2: pay extra fees for a second offset.
Speaker 4: Oh no, thank you. In that case, I'll depart with that.
Speaker 2: So, yeah, I get to certain amount to the bills
Speaker 2: and then literally the rest just goes to offset the
Speaker 2: interest and we live off the credit card and then
Speaker 2: we pay it. So that's very new though, that's very
Speaker 2: different to how I used to manage my money. That
Speaker 2: we used to have a credit card, but now I've
Speaker 2: kind of done that for the points hacking as well
Speaker 2: to get a few holidays.
Speaker 4: Smart woman, Ann, are you responsible with your credit card?
Speaker 2: I am?
Speaker 4: I am.
Speaker 2: You actually live in the back of my mind when
Speaker 2: I think about it.
Speaker 4: Because you're like Victoria wouldn't be smart with this. I
Speaker 4: can be better than her.
Speaker 2: She tells me.
Speaker 4: Don't tap, tap tap, no tapping, no tapping. Research tells
Speaker 4: us that people who have credit cards spend twenty two
Speaker 4: percent more than people who use a debit card. Oh my,
Speaker 4: that's terrified, So no, tappy, tappy.
Speaker 2: No, no, no, no no, no.
Speaker 4: Oh my gosh, money, Dirice. This has been an absolute pleasure.
Speaker 4: I feel like I've learned so much from knowing how
Speaker 4: to get the cheapest price by looking out for the
Speaker 4: Woollies catalog on a Monday and going shopping on a Wednesday,
Speaker 4: to how to impulse purchase jet skis responsibly. This has
Speaker 4: been a ride. I've loved it. Sadly, it is all
Speaker 4: we have time for today, so I'm really grateful that
Speaker 4: you've shared I guess all of this with us. It's
Speaker 4: so inspiring to see someone so young doing so well,
Speaker 4: and it just makes me so happy. Future is looking
Speaker 4: brut I'm really excited for you and your partner, and
Speaker 4: I'm just so excited that you've gotten here, So congrats
Speaker 4: on the first home and everything that you've achieved thus far.
Speaker 4: I can't wait till, hopefully in a few years tap
Speaker 4: you on the shoulder and ask to do an updated
Speaker 4: money diary. So let's wait out for that.
Speaker 2: Thank you so much for having me, and I really
Speaker 2: do hope that this can give someone a little bit
Speaker 2: of inspiration and that I can listen to this in
Speaker 2: ten years time and go who was she? Where is
Speaker 2: she now?
Speaker 4: Oh my gosh, I love it. Thank you so much.
Speaker 4: It has been a pleasure. Bid By shared on She's
Speaker 4: on the Money is general in nature and does not
Speaker 4: consider your individual circumstances. She's on the Money exists purely
Speaker 4: for educational purposes and should not be relied upon to
Speaker 4: make an investment or financial decision. If you do choose
Speaker 4: to buy a financial product.
Speaker 5: Read the PDS TMD and obtain appropriate financial.
Speaker 4: Advice tailored towards your needs.
Speaker 5: Victoria Divine and Sheese on the Money are authorized representatives
Speaker 5: of Money Sherpa Pty Ltd a BN three two one
Speaker 5: six four nine two seven seven zero eight AFSL four
Speaker 5: five one two eight nine