Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order KERNI Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it. She's on the Money, She's on
Speaker 2: the Money. Hello, and welcome to She's on the Money
Speaker 2: the podcast and millennials who want financial freedom. Welcome back
Speaker 2: to another one of our Money Diary episodes where I
Speaker 2: get the absolute privilege of talking to one of our
Speaker 2: beautiful She's on the Money community members all about their journey.
Speaker 2: Let's jump straight in because I get a message this
Speaker 2: week and it went like this, Hi V. I was
Speaker 2: broke amum at eighteen, living on sentling until I discovered
Speaker 2: the beauty industry. Now I'm a landlord, a full scheduled
Speaker 2: nail technician, and their kids are thriving. That's the best. Like,
Speaker 2: that's so short, so sweet, so straight to the point.
Speaker 2: I need to know so much more about this. But
Speaker 2: before we get there, money darist, what would you give
Speaker 2: you money habits if I asked you to give them
Speaker 2: a grade from A through to F.
Speaker 3: I've been thinking about it. I like to think I'm
Speaker 3: a solid B. I'm definitely on an A. I think
Speaker 3: everybody has faults. I have a good relationship with money.
Speaker 3: I don't feel like I have to spend it. I
Speaker 3: don't feel like I need to have the latest thing
Speaker 3: or the cool this thing. So I'd like to get
Speaker 3: myself a bee.
Speaker 2: All right, let's start with a bee. But now my
Speaker 2: favorite question of all time, I want to know more
Speaker 2: about your money story. Can you open up?
Speaker 3: Yeah, definitely. So we were freshly eighteen when we fell pregnant.
Speaker 3: We were only together for three months, and obviously that
Speaker 3: through a spanner in the works for everyone. We had plans,
Speaker 3: and obviously all the plans went to out.
Speaker 2: The window rubbish three months. That would have been a shock.
Speaker 2: We're like, oh, oh.
Speaker 3: I think you know it is what it is. But
Speaker 3: it was the best thing that happened for us, I
Speaker 3: reckon and we talk about all the time. We would
Speaker 3: never have it any other way. And I also think
Speaker 3: we wouldn't be who we are today if we didn't
Speaker 3: feel pregnant at such a young age, because it pushed
Speaker 3: us to achieve better.
Speaker 2: I love that so much because I think that so
Speaker 2: many people, when they find out they're pregnant really young
Speaker 2: and it was completely unexpected, they just immediately assume it's
Speaker 2: going to ruin their lives, and You're like, no, no, no,
Speaker 2: it made mine so much better.
Speaker 3: Definitely. Yeah, well we freaked out at the start. We
Speaker 3: were like, oh, what are we going to do? Like
Speaker 3: we were still living at home at this point, like
Speaker 3: just in a little bedroom in our family home. And yeah,
Speaker 3: we quickly were like, okay, well something has to change.
Speaker 3: So we moved out. And obviously moving out at eighteen
Speaker 3: was a struggle. So I was just on centilink after
Speaker 3: I you know, finish with working when I like went
Speaker 3: on Matt leave, which I was just working in a
Speaker 3: cafe so it was nothing special at paid the bills
Speaker 3: and that's all, and my partner was kind of just
Speaker 3: doing whatever he could get his hands on to earn
Speaker 3: the money. And yeah, we struggled for a long time,
Speaker 3: like just trying to cover the rent. I think honestly,
Speaker 3: our outgoings were probably more than our incoming, so it
Speaker 3: was a really really hard time. Babies are expensive, Yeah, definitely,
Speaker 3: and also you're just I think at that age, especially
Speaker 3: being pregnant, you're trying to prove something as well, so
Speaker 3: you're trying to also show everyone that you can do it,
Speaker 3: that you're not struggling, and that you know, we didn't
Speaker 3: want to be like, oh, we really need help, like
Speaker 3: we can't afford this or we can't afford that. We
Speaker 3: would just do it. And like you know, say our
Speaker 3: family or something wanted us to do something that we
Speaker 3: couldn't afford, we would just do it rather than being
Speaker 3: like a sorry, we can't afford that, we're not going
Speaker 3: to join in or something. So we always struggled, and
Speaker 3: we always found it really hard to come to terms
Speaker 3: with actually, no, we can't afford this, and let's figure
Speaker 3: out another way to achieve it. But yeah, for ages
Speaker 3: we struggled and we just kind of like made ends meet,
Speaker 3: and then we had our son at nineteen.
Speaker 2: Did you plan to have a second baby or is
Speaker 2: that something that was like ooh, another surprise.
Speaker 3: Well, when our son turned one, we were kind of like, oh,
Speaker 3: we want another one, Like we wanted to have a friend,
Speaker 3: so our daughter was planned.
Speaker 2: I only ask not because I'm trying to be pervy
Speaker 2: and be like, oh, did you have an accident twice?
Speaker 2: It's more like I feel like I've met so many
Speaker 2: people that have babies young and then they have the
Speaker 2: first one and go, you know what, let's just whack
Speaker 2: out a couple more while we're here, like we're in
Speaker 2: baby mode, like we've got all this stuff, we know
Speaker 2: we want multiple kids, Like it kind of just makes sense.
Speaker 3: Yeah, Well, just with having our son super young, we
Speaker 3: were like, we don't want a massive age gap, we
Speaker 3: don't want to be older, Like we really just wanted
Speaker 3: to be young parents and smashed out young. My mum
Speaker 3: was a young mom. She had me at twenty two,
Speaker 3: and like we're best friends now, so like I'm twenty
Speaker 3: five and she's forty eight. Maybe I don't know, but
Speaker 3: I'm like, we're just besties. So I wanted that as well,
Speaker 3: even though it was going to be a struggle.
Speaker 2: I love it. And as somebody who's currently very very
Speaker 2: pregnant and thirty two. I just wish I was a
Speaker 2: little bit younger.
Speaker 3: In hindsight, yeah, I think, you know, it happens whenever
Speaker 3: you're ready, and I think, no matter what age you
Speaker 3: are or where you are, it's going to happen, and
Speaker 3: it's going to be beautiful.
Speaker 2: So I'm just really tired, you know. So I look
Speaker 2: at you and I'm like, oh, that was a smart
Speaker 2: move from you, you smart cookie.
Speaker 3: Well, my sister's twenty eight, and I say like, come on,
Speaker 3: I gotta have one soon because I'm exhausted and I'm
Speaker 3: twenty five.
Speaker 2: When you're in your forties and people like me are
Speaker 2: stilled doing daycare drop off, you'll be like, have fun
Speaker 2: over there. I've got a margarita.
Speaker 3: I know I'll be living.
Speaker 2: So tell me what life looks like now. So you
Speaker 2: had two kids, obviously a struggle. That's not what life's
Speaker 2: like now.
Speaker 3: Though, No, So they're four and six now. We purchased
Speaker 3: a property at the start of last year in an
Speaker 3: area that was kind of yet to boom, and then
Speaker 3: we were there for a year and we renovated and
Speaker 3: like you know, it kind of boomed. So we've got
Speaker 3: a bit of equity now and we're actually renting the
Speaker 3: house out.
Speaker 2: Now, oh look at you.
Speaker 3: Yeah, so that's really exciting. So that was like a
Speaker 3: goal for us. We really wanted to like prove we
Speaker 3: could do it all. So yeah, by twenty five, we
Speaker 3: wanted to at least like have a property rented out.
Speaker 3: And yeah, so we started actually at least to a
Speaker 3: rental until we buy our second property, which is a
Speaker 3: goal that we will hopefully achieve next year. We started
Speaker 3: the rental property yesterday.
Speaker 2: So I was so fresh.
Speaker 1: Mm.
Speaker 3: But yeah, so life now is obviously a lot than
Speaker 3: what it was. We're not struggling, I mean cost of living. Obviously,
Speaker 3: money is still always like not an issue, but you
Speaker 3: want to be careful. But yeah, being an now technician,
Speaker 3: that's why I wanted to jump on because I was like,
Speaker 3: it honestly changed my life. It was something I was
Speaker 3: able to do while being at home being a mom.
Speaker 3: No matter what age I was, I could achieve it.
Speaker 3: I could do it in the benefit of my own home.
Speaker 3: And it's still brought in a full income.
Speaker 2: How good is that.
Speaker 3: Obviously it's a business, so you're self employed. Don't give
Speaker 3: you a bit of experience with like the back end
Speaker 3: and tax and all that. Stuff. So yeah, I was like, well,
Speaker 3: it's just been like a full circle kind of moment.
Speaker 2: I love it. So tell me more about this business.
Speaker 2: Were you like one day you woke up and you're like,
Speaker 2: I could probably do nails at home or were you,
Speaker 2: you know, pre trained in that, Like how did you
Speaker 2: fall into this? Because as somebody who I love doing
Speaker 2: my own nails because I literally do not have the
Speaker 2: time during the day at a reasonable hour to go
Speaker 2: and see a nail technician, but like I adore it,
Speaker 2: and I feel like having a good nail technician is
Speaker 2: like a cult, like you find someone and you go
Speaker 2: to nobody else. And I'm sure you see this with
Speaker 2: your clients, but like, good on you for finding that niche,
Speaker 2: because it's a great niche to be, But how did
Speaker 2: you find it?
Speaker 3: So obviously, like as a teenage girl, I loved getting
Speaker 3: my nails done, and I loved watching like the nail
Speaker 3: tutorials on like Facebook, like whatever back then we watched
Speaker 3: them on. But my son was nearly one and it
Speaker 3: was like kind of time for me to return back
Speaker 3: to an income. I didn't want to go back to
Speaker 3: the cafe. I didn't have any other qualifications because I
Speaker 3: dropped out of high school, so I didn't really follow
Speaker 3: through with anything. I just went to working with whatever
Speaker 3: job would take me.
Speaker 1: Yep.
Speaker 3: And obviously being pregnant at eighteen, I didn't go through
Speaker 3: with UNI or anything like that. So I was like, yeah,
Speaker 3: what can I do that's still going to bring me money,
Speaker 3: but I'm still going to be flexible. So that's when
Speaker 3: I was like, I wonder, you know what a now
Speaker 3: business would look like. Obviously you're never going to run
Speaker 3: out of clientele and.
Speaker 2: They reoccur as well, which is smart business.
Speaker 3: Yeah, so I was like, you know, what's going to
Speaker 3: bring an income, but like, I'm not going to be like,
Speaker 3: you know, marketed properly. You're always going to have a
Speaker 3: clientele because every single woman at some stage, once they're now,
Speaker 3: it's done all men, you know. So yeah, I started
Speaker 3: looking at a NOW course and it worked out perfect
Speaker 3: because back then I don't know if they still do
Speaker 3: it now, but the government offered like a CERT three guarantee. Yeah,
Speaker 3: So the NOW course that I did was a CERT
Speaker 3: three and it was actually a few thousand, but with
Speaker 3: the SERT three guarantee because I hadn't done a prior
Speaker 3: CIRT three the government funded most of that, so I
Speaker 3: think out of pocket, I only take about five hundred
Speaker 3: or something like that.
Speaker 2: Oh, how good.
Speaker 3: And it was three or four days a week, so like,
Speaker 3: you know, I had my son at home, like I
Speaker 3: just had someone come and watch him, or my partner
Speaker 3: would stay home on his days off to watch him,
Speaker 3: and I went and did the tape course. I think
Speaker 3: it was like three months or four months or something. Yeah,
Speaker 3: And then when I finished, it took me little bit
Speaker 3: to get the ball rolling because it's super nerve wracking,
Speaker 3: and you know, you have people watching you while you're working.
Speaker 2: It's anxiety inducing.
Speaker 3: Once I got comfortable with doing it, I thought, this
Speaker 3: is it, Like this is just what's going to work
Speaker 3: for me, and I kind of just kept going with it.
Speaker 3: And at that stage, we were just in like a
Speaker 3: crappy little house what we could afford in a Brisbane
Speaker 3: suburb that was just getting more and more expensive to
Speaker 3: live in. So we actually had to leave that house
Speaker 3: because like it was not a very nice house to
Speaker 3: work in for clients. And I was also heavily pregnant
Speaker 3: with my daughter. When I decided to stop doing oils
Speaker 3: just to focus on the end of the pregnancy, So
Speaker 3: I had a bit of a break I'd say for
Speaker 3: like maybe a good six months or eight months. I'd
Speaker 3: actually stopped doing oils four and then when I got
Speaker 3: back into it, I kind of came in with like
Speaker 3: a fresh mindset. I changed my business name, I like rebranded,
Speaker 3: I bought all new stuff, had a bit money aside
Speaker 3: saved up that I like spent just all my money
Speaker 3: on and all my savings on rebranding, and just hoping
Speaker 3: like it was going to pick back up again and
Speaker 3: I would get all new clientele again and just like
Speaker 3: prayed that it worked. And it did and it worked perfect.
Speaker 3: I love that, And I literally haven't stopped since. So
Speaker 3: that's been five years now since I've picked it back up,
Speaker 3: and I think I've taken like maybe two weeks off
Speaker 3: in that whole time. I've just had a full schedule
Speaker 3: and it's been amazing.
Speaker 2: Yeah wow, So tell me a bit more, because obviously,
Speaker 2: starting your own business is so much more than going
Speaker 2: and getting a certification and being like cool, I can
Speaker 2: hit the ground running like you were just a young mum.
Speaker 2: How did you work out like all the marketing, the
Speaker 2: branding and like acquiring clients, Like what was your I
Speaker 2: guess main mode of advertising.
Speaker 3: Well, when I first started, I came in at a
Speaker 3: really good time when kind of people were still going
Speaker 3: to the shops. But it wasn't like popular back then
Speaker 3: to have like your own now tech. Well I was
Speaker 3: only nineteen, so I didn't have my own now tech.
Speaker 3: If I want to my annow start, I would have
Speaker 3: just gone to the shops. Yeah, and so I think
Speaker 3: I started at a really good time because the nail
Speaker 3: industry kind of boomed in between when I started to
Speaker 3: when I like finished before having my second child, and
Speaker 3: then Yeah, people were wanting to find their own at
Speaker 3: home now technician and someone that was careful and more
Speaker 3: of like a luxurious service. So when I first started marketing,
Speaker 3: I would post like Facebook Marketplace ads.
Speaker 2: Oh cool smart, Well, it didn't.
Speaker 3: Cost me anything. And I think back then boosting like
Speaker 3: your post on Instagram wasn't a thing. So it was
Speaker 3: all done by Facebook Marketplace and Facebook groups. I think
Speaker 3: I even had Gumtree ads back then.
Speaker 2: Yeah cool, Yeah.
Speaker 3: Just anyone I could get in. I wouldn't care about
Speaker 3: you know who they were or like, you know whatever.
Speaker 3: Back then, it was a bit hard to get more
Speaker 3: of like an upscaled client. So yeah, I think I
Speaker 3: was charging maybe like forty dollars for a set of
Speaker 3: hours back then, and I would just maybe do like
Speaker 3: two a day or three, you know. So it wasn't
Speaker 3: a lot of money at the very start. It took
Speaker 3: me ages and what I have been earning. But yeah,
Speaker 3: just to get experience, I would just post on social media.
Speaker 3: Instagram wasn't really a massive thing. I think Instagram started
Speaker 3: picking off for me. I think I maybe like had
Speaker 3: done a giveaway or something. Yeah, and just with learning
Speaker 3: how to post photos and in the right lighting and
Speaker 3: also changing the style of nails that I did to
Speaker 3: suit like the social dynamic as well. Yeah, so doing
Speaker 3: more like you know, sets it now so that other
Speaker 3: clients would want rather than maybe what I would like.
Speaker 2: Yeah, totally, which I think is so smart because you're
Speaker 2: then playing to getting more clients and like, it's so
Speaker 2: much more than just being like, hey, I do nails
Speaker 2: and then people just come to your house. Like that's
Speaker 2: not how it works. Yes, So it's a balancing act
Speaker 2: you mentioned before, you know, I was doing like forty
Speaker 2: dollars nail sets. Now I'm making way more than I
Speaker 2: used to, So let's jump into the next question because
Speaker 2: I want to know, like, obviously you're a nail technical,
Speaker 2: but how much money do you actually make? Give us
Speaker 2: the juicy goss.
Speaker 3: So on a good year, it's just under seventy five.
Speaker 2: Thousand, okay, smart, because she doesn't want to pay GST.
Speaker 3: I don't have a desire to be you know, that
Speaker 3: next tax bracket, so I try to keep it under
Speaker 3: seventy five K. I do offer like education and courses
Speaker 3: as well, which adds in like a nice big chunk
Speaker 3: of income as well, so that's good. I can also change, like,
Speaker 3: you know, not just always working all week. I can
Speaker 3: do like a weekend course which could make up for
Speaker 3: a four week of income, which is really really fun.
Speaker 3: Yeah cool, So a good year, I like to keep
Speaker 3: it under seventy five K. I've done a little bit
Speaker 3: of moving around. We've moved up north now we're back
Speaker 3: in Frizzy, so I'd say at the moment it's probably
Speaker 3: you know, sixty thousand ish, which this year I'm hoping
Speaker 3: to get it back to seventy five k mark now
Speaker 3: that I'm back in Brisbane with all my regulars.
Speaker 2: Yep. And what does your I guess week to week
Speaker 2: look like how many hours does that take you to achieve?
Speaker 3: So it's actually pretty flexible. So I don't start clients
Speaker 3: until ten.
Speaker 2: Am, fairness yea, I know.
Speaker 3: Yeah, Well I'm not a morning person, so I don't
Speaker 3: commit to like nine am appointments before then.
Speaker 2: A bit like me, Like if my clients saw me
Speaker 2: before nine am, they'd be like, we do not want
Speaker 2: to work with Victoria.
Speaker 3: Yeah, and like I've got the kids, Like my partner
Speaker 3: goes to work early in the morning, he's out of
Speaker 3: the house at five. And you know, my daughter, she's
Speaker 3: like me, she doesn't do a morning she sleeps in.
Speaker 3: So it's just a smart tactic for me to start
Speaker 3: at ten am. Yeah, and then I need to be
Speaker 3: finished before you know, four ish five ish latest should
Speaker 3: like do pick up the kids and do dinner and
Speaker 3: all that stuff. So it's pretty flexible. At the moment,
Speaker 3: I'm only doing it three days a week, which is Thursday, Friday, Saturday.
Speaker 3: I'm going to salon to do those and now that
Speaker 3: I'm at our own little space again, I will be
Speaker 3: offering more days from home, which all up that income
Speaker 3: as well.
Speaker 2: Oh how good. That's so nice that you can kind
Speaker 2: of like scale it up and back, depending on what
Speaker 2: you want to do.
Speaker 3: Yeah, I love this definitely. I think the beauty industry
Speaker 3: in general, no matter if you do nails, lashes, brows,
Speaker 3: you know, cosmeonic t he doing, it's so flexible, like
Speaker 3: your clients will work around you. And that's why I
Speaker 3: wanted to jump on to show moms that you can
Speaker 3: do flexible work and it can be fun and you
Speaker 3: don't have to be in the ground of an.
Speaker 2: Office, and you're earning a very good income from that. Like,
Speaker 2: that's why I was like, cont you earn And then
Speaker 2: that's why I wanted to ask about the hours, because
Speaker 2: I think automatically a lot of people would have been like, oh,
Speaker 2: like her kids must be in daycare five days a
Speaker 2: week and she must be yeah, you know, hustling for that. No,
Speaker 2: she's living her best life now. Yeah, I love it,
Speaker 2: and you obviously love what you do because I can
Speaker 2: see how happy you are when you're talking about it
Speaker 2: as well, which makes me so happy.
Speaker 3: Yeah. Well that's why I say to my clients all
Speaker 3: the time, it doesn't feel like I'm at work, because
Speaker 3: you know, some clients will come in and they will
Speaker 3: want something crazy on then now and to be like
Speaker 3: I'm sorry, sorry it's taking so long, and say it
Speaker 3: doesn't feel like I'm at work, Like it feels like
Speaker 3: I'm just doing a hobby.
Speaker 2: I'm having fun doing this. It's different. Yeah, And I
Speaker 2: feel like when I seeing my nail tech, Amy, if
Speaker 2: you're listening to this, I still love you. I just
Speaker 2: have no time. I've always felt like it was going
Speaker 2: to a friend's house, like it would be like a
Speaker 2: little bit of a like go to a friend's house,
Speaker 2: like have a gossip session, like have a good chat,
Speaker 2: and then my nails would be done and I'd be like, oh,
Speaker 2: I have to go home now. Oh okay.
Speaker 3: I feel like what you say at the now table
Speaker 3: it never leaves.
Speaker 2: Oh you're a therapist as well.
Speaker 3: Yeah, you have that connection between your now tech and
Speaker 3: like me with my clients, that we can say whenever
Speaker 3: we want and it's fine and it's such a safe,
Speaker 3: happy space.
Speaker 2: I adore it. It's great and I love that you
Speaker 2: get to do that every day. Tell me about your
Speaker 2: big money goals. Obviously you've gone from being a broke
Speaker 2: mom at eighteen living on centralink to I guess living
Speaker 2: your best life. But what are your big money goals,
Speaker 2: what are you currently working towards?
Speaker 3: So at the moment, we're kind of starting fresh. We've
Speaker 3: used up most of our savings on renovating our property,
Speaker 3: and at the moment we're covering both rent and mortgage
Speaker 3: just while our house is getting rented out, which will
Speaker 3: be in mid February. Yea, So we're kind of starting
Speaker 3: fresh with our savings. So we've been able to set
Speaker 3: ourselves a bit of a clean slate and be like, right, well,
Speaker 3: this is what we want to achieve. We know what
Speaker 3: we can do now, we know the things that we
Speaker 3: can accomplish. So this year we just want to keep
Speaker 3: saving to go towards a second property. We're hoping obviously
Speaker 3: we can use a bit of equity so we won't
Speaker 3: take up a lot of our money. It's hard to
Speaker 3: say that we have money goals for this year because
Speaker 3: we've worked so hard for like a long time, and
Speaker 3: we've achieved our big yourself, which is buying a property
Speaker 3: last year. So at twenty four, buying our first property.
Speaker 2: Twenty four is baby, You're buying property at twenty four,
Speaker 2: What the heck?
Speaker 3: Yeah, So this year we kind of said, look, we
Speaker 3: actually just want to chill out a little bit. We're
Speaker 3: not setting too many massive goals. We just want to
Speaker 3: keep chipping away at the savings, just popping a little
Speaker 3: bit away each week. We would like to go on
Speaker 3: a little holiday at the end of the year, just nowhere, fancy,
Speaker 3: just somewhere still in Australia, maybe even just tazzy. Yeah,
Speaker 3: so keeping money aside for that.
Speaker 2: But yeah, oh I love that. And as much as
Speaker 2: you say I don't have any big money goals per
Speaker 2: se Victoria, I feel like you've obviously thought about finances though,
Speaker 2: because you've said to me before you were like, yep,
Speaker 2: last year I did about sixty grand. I'd love to
Speaker 2: do seventy five. So it's not like you're not thinking
Speaker 2: and talking about money. You've just taken the pressure off
Speaker 2: this year, which I think can be honestly so relieving.
Speaker 2: Like sometimes we just have big money goal after big
Speaker 2: money goal and it feels stressful and overwhelming and we
Speaker 2: don't get to enjoy the journey. So I low key
Speaker 2: love that. Let's go to a really quick break because
Speaker 2: on the flip side, I want to know more about
Speaker 2: this house that you bought, the debt that's on it,
Speaker 2: any investments, and your good and bad money habits. Guys
Speaker 2: don't go anywhere. All right, money Dice, We are back,
Speaker 2: and I feel like you're one of the savvy she's
Speaker 2: on the money community members. So tell me about investments.
Speaker 2: Do you have any? If so, what are they? If
Speaker 2: you're not investing, what's the plan?
Speaker 3: So we have our property, which.
Speaker 2: Is an investment property. Now you've moved out, Yeah, so our.
Speaker 3: Rent is going to be covering the mortgage. We will
Speaker 3: be chucking a little bit of money into that each week,
Speaker 3: just to have a little bit of a buffer there
Speaker 3: on the mortgage. That's kind of our biggest investment. I
Speaker 3: do have a little bit in chairs eas since I've
Speaker 3: been listening to the podcasts.
Speaker 2: Ah very cool.
Speaker 3: Yeah, So I've just been doing the roundups on that.
Speaker 3: I haven't actually been popping money into it. It's just
Speaker 3: been rounding up. I've done the dollar and then also
Speaker 3: the other little.
Speaker 2: Bit is that adding up? Yes, it is actually well,
Speaker 2: very nice fairness.
Speaker 3: I've only been doing it since like end of last year,
Speaker 3: and it's nearly about it's only got about two hundred
Speaker 3: bucks in there, but it's getting there.
Speaker 2: That's two hundred bucks. You didn't think you'd have invested though.
Speaker 3: Hey, I know, well, you know, I've tried kombake, and
Speaker 3: I've tried all like those other big stock ones and
Speaker 3: I just can't understand it. But I can really understand
Speaker 3: the chairs eas which is awesome.
Speaker 2: Oh, I'm so so glad. Well, that's exciting. Two hundred
Speaker 2: dollars now. Can't wait to see what it's at at
Speaker 2: the end of the year or even in a couple
Speaker 2: of years. That's going to compound. Yeah, do you have
Speaker 2: any other investments or are their plans for other investments?
Speaker 3: Well, no other investments at this stage. We are hoping
Speaker 3: to buy a second property next year. We don't want
Speaker 3: to be in a rental forever, so we hope to
Speaker 3: buy a second property next year. But no, at this stage,
Speaker 3: that's all we have in investments.
Speaker 2: Very cool. Tell me about debt. I want to know
Speaker 2: about this mortgage. I need to know the dirty details.
Speaker 2: How did a twenty four year old get into her
Speaker 2: first property.
Speaker 3: It's a bit of a rollercoaster. We decided we couldn't
Speaker 3: buy into the Brisbane market. It's just too expensive. It
Speaker 3: wasn't in reach for us, and we weren't going to
Speaker 3: break ourselves just again into the market. Here, which I
Speaker 3: don't think is a smart move as a young person.
Speaker 3: You're kind of just getting yourself into a massive amount
Speaker 3: of debt unless you pick up an amazing cheap property,
Speaker 3: which often comes with the downside. So we started looking
Speaker 3: up north. I'm from a little town up north. It's
Speaker 3: not so little, but it's four hours from Brisbane, and
Speaker 3: I thought, if you know, we're going to buy somewhere,
Speaker 3: I want to be comfortable with it and I want
Speaker 3: to be knowledge of the area. So yeah, we bought
Speaker 3: up north a little bit. I have family there, which
Speaker 3: was perfect. We bought our house for three hundred and
Speaker 3: fifteen thousand. It's eight hundred square meter block.
Speaker 2: Oh my gosh, two bedroom.
Speaker 3: It has like a nice little sunroom, landroom, kitchen, and
Speaker 3: then it has a massive granny flat, which was our
Speaker 3: big win.
Speaker 2: Oh money win.
Speaker 3: Yeah. So when we went and had a look, I
Speaker 3: think we were in a bit of luck because all
Speaker 3: the photos online they were really bad, like they looked
Speaker 3: really terrible and it just looked like no one would
Speaker 3: want to kind of live there. But we saw the
Speaker 3: big win in the granny flat. It wasn't like super
Speaker 3: rand new it had been lived in, but it had
Speaker 3: a big kitchen, big bathroom, two bedroom.
Speaker 2: In the granny flat. Yeah, what the heck in Yeah,
Speaker 2: it's like a little two for one deal.
Speaker 3: And the best part was the granny flat isn't actually
Speaker 3: certified as a granny flat. It was certified as a
Speaker 3: games room. So we just have to pay like a
Speaker 3: few thousand I think it is to get it certified,
Speaker 3: and then it will add value onto the house, which
Speaker 3: at the moment it doesn't have that value.
Speaker 2: Oh how good.
Speaker 3: So we bought it for a lot less than what
Speaker 3: it will be worth when we get it certified.
Speaker 2: You guys are geniuses, so tell me more.
Speaker 3: We moved in and we immediately got to renovating. We
Speaker 3: ripped up all the carpet, we went back to hardwood floor,
Speaker 3: we did all the painting. It wasn't a fence property,
Speaker 3: which obviously a downside, so we fenced the property and
Speaker 3: that's expensive.
Speaker 2: I've just learnt how expensive fencing is.
Speaker 3: Well, we did it all ourselves, so it didn't actually
Speaker 3: cost it.
Speaker 2: Okay, well you're smarter than me, yes.
Speaker 3: So we got an extra twenty k on our loan,
Speaker 3: and we managed to get everything done with that twenty
Speaker 3: k and we renovated the bathroom, we painted exterior interior.
Speaker 3: I think that's kind of what we did. Yeah, so
Speaker 3: we did everything ourselves, so we saved ourselves a lot
Speaker 3: of money. My dad is a handyman, so we got
Speaker 3: off really really well with that, so he was around
Speaker 3: all the time helping us. And then we had it
Speaker 3: reevaluated and it's in about the four twenty k mark
Speaker 3: at the moment.
Speaker 2: No, it's not how good. So tell me about I
Speaker 2: guess a deposit. So how did you get your deposit together?
Speaker 2: What did you spend on it?
Speaker 3: So I actually got really lucky. And that's why I
Speaker 3: kind of always feel like it's kind of a bit
Speaker 3: of a cheat. Like my dad was as a guarantee
Speaker 3: on the property.
Speaker 2: It's not a cheat because you've still got to do
Speaker 2: a lot of work.
Speaker 3: Well, yeah, so we still had kind of enough money
Speaker 3: to do a deposit. We just didn't want to be
Speaker 3: left with nothing. So my yeah dad win as a guarantee,
Speaker 3: which was amazing because his property is nearly paid outright,
Speaker 3: So that just worked out perfect. And yeah, that means
Speaker 3: we saved our money to go on to Reno's and
Speaker 3: all that kind of stuff, and just with a bit
Speaker 3: of a buffer. Obviously you still have to show the
Speaker 3: income and show the savings. So yeah, we got off
Speaker 3: a bit lucky with that, but I'm glad, Like probably
Speaker 3: without the guarantee, it would have been a lot harder
Speaker 3: to get in or taken us longer to save.
Speaker 2: I love that. I feel like it's genius. Now you've
Speaker 2: gone and gotten all of your I guess ducks in
Speaker 2: a row to rent it out. What are you going
Speaker 2: to be renting the property for?
Speaker 3: So we are hoping to rent it out for four
Speaker 3: ninety five a week?
Speaker 1: What?
Speaker 3: Yeah, it's pretty good. We do have to change our
Speaker 3: loan type. I messed up with our mortgage. It started
Speaker 3: as an investment property and then we change it to
Speaker 3: own occupied because we were like not super sure on
Speaker 3: moving out or renting it out or that. So we
Speaker 3: changed it to own occupied because the other interest rate
Speaker 3: was cheaper, and then we locked it in at that
Speaker 3: interest rate. So now we have to change all that around,
Speaker 3: which will bump uss back up a bit, so the
Speaker 3: rent will be covering majority of the mortgage. So our
Speaker 3: mortgage will be I think it's like five ten after
Speaker 3: we do the interest rate change and all that loan
Speaker 3: type change. So yeah, we won't be able to pocket
Speaker 3: a lot.
Speaker 2: That's not the point. You have a very nice amount
Speaker 2: of equity already. You're sitting in a very flushed position
Speaker 2: with four ninety five a week coming in, that rental
Speaker 2: yield would be very attractive. I don't have a rental
Speaker 2: yield calculator in front of me, but if I did,
Speaker 2: I know it would be coming out. Well. The fact
Speaker 2: that you bought it for three hundred and fifteen thousand
Speaker 2: dollars and also eight hundred square meters for three hundred
Speaker 2: and fifty what like as someone who's from inner Melbourne,
Speaker 2: Like even my three hundred and fifty square meter block
Speaker 2: costs more than a million dollars? Like, what the hell? Like,
Speaker 2: you're a winner. I'm the idiot here.
Speaker 3: Yeah, for us, it was not about owning something that
Speaker 3: was expensive. It was just about owning an asset and
Speaker 3: having that relationship with the bank to further better ourselves
Speaker 3: to buying a second property when we decided to come
Speaker 3: back to Brisbane. Obviously it's a lot more expensive here,
Speaker 3: so we kind of figured if we at least had
Speaker 3: somewhat of a relationship and had somewhat of a asset,
Speaker 3: it would be easier when we are a little bit older,
Speaker 3: because we're still so young.
Speaker 2: Oh you were set. I feel like it's going to
Speaker 2: go from one property to two properties and you're still
Speaker 2: basically children in my eyes. Give it another ten years,
Speaker 2: like you're going to be a little propertymuls like I
Speaker 2: can just see it. You're gonna have your own full
Speaker 2: nail salon. You won't even do nails anymore. You just
Speaker 2: manage everybody else like you are going to take over
Speaker 2: the world. I'm so excited for this, me too, Thank you.
Speaker 2: So tell me what do you think your best money
Speaker 2: habit is.
Speaker 3: I think my best money habit is I'm super frugal.
Speaker 3: I always think about the purchase before I do it.
Speaker 3: I never just go screw it I've got the money,
Speaker 3: or screw it we need it. I think do we
Speaker 3: actually really need this or can we do without. I
Speaker 3: don't feel like I have to own anything. I just
Speaker 3: go my day and day out with what I've got.
Speaker 3: I make do with everything. So yeah, I'm not like
Speaker 3: a big spender. Honestly, our main spending is on our asset,
Speaker 3: and you know, things that keep us alive, like groceries
Speaker 3: and our bills and all that sort of stuff, so
Speaker 3: we don't have a lot of excess spending that we do.
Speaker 3: So yeah, just from being like super young and super broke,
Speaker 3: I'm super frugal because we haven't always had money, and
Speaker 3: I feel like any money that's incoming, we always have
Speaker 3: to be like, Okay, well where's this going? And you know,
Speaker 3: what are we going to have left over? We pay
Speaker 3: our bills, so what are we going to do with that?
Speaker 3: So yeah, I'm super super frugal.
Speaker 2: But I love that, And obviously I would say that's
Speaker 2: part of your money story, having known where you've come from,
Speaker 2: Like there's always going to be some level of being
Speaker 2: really conservative with your cash because you're like, I don't
Speaker 2: want to go back to that because I'm assuming you
Speaker 2: remember how stressful that was.
Speaker 3: Definitely, Like, you know, the first Christmas with our son,
Speaker 3: we had to go to like a charity place they
Speaker 3: give out Christmas presents.
Speaker 2: That's not bad.
Speaker 3: They give you like a Christmas food hamper and you
Speaker 3: can like pick out a few toys. So we wrapped
Speaker 3: them up and like that was what our first look like.
Speaker 2: But I love that you had access to that, Like
Speaker 2: I'm obsessed that these things exist.
Speaker 3: Oh yeah, it was super super helpful at a time
Speaker 3: of need. So, yeah, like our first few years of
Speaker 3: like being young adults, when you're generally out thriving and
Speaker 3: you know, making memories, we were like really struggling and
Speaker 3: pushing through and just making ends meet. So we remember
Speaker 3: what that feels like and we go not again.
Speaker 2: So I love that.
Speaker 3: Yeah, we always super conservative with whatever excess money we
Speaker 3: have because it just doesn't last.
Speaker 2: Yeah, And I think that that's very reflective of your journey,
Speaker 2: but it's also something that will serve you really well.
Speaker 2: Like I feel like sometimes you get out of these
Speaker 2: situations and people bury their head in the sand and
Speaker 2: pretend like that wasn't their circumstance, and then they end
Speaker 2: up spending way beyond their means, which is just the
Speaker 2: worst thing that can happen, right, definitely, So I'm very
Speaker 2: very excited about it. But let's bring it down. What's
Speaker 2: your worst money habit? What have you carried through that's
Speaker 2: not serving you well.
Speaker 3: I always like to think I don't have a bad
Speaker 3: money habit, Like I like to think that I have
Speaker 3: a very positive relationship with money.
Speaker 2: You don't have to come up with one. Then, Honestly, I.
Speaker 3: Don't think I can think of one. Maybe I'm being
Speaker 3: a bit naive.
Speaker 2: No, I don't think you're being naive.
Speaker 3: Oh I do use after paying. That is my one
Speaker 3: bad money habit.
Speaker 2: I can almost guarantee that you're not frivolously purchasing things
Speaker 2: on after pay. Are you using it as a cash
Speaker 2: flow tool, aren't you?
Speaker 3: Well for me, it's kind of like, I have X
Speaker 3: amount of money in my excess spending for this week.
Speaker 3: Am I going to spend it all on this one item?
Speaker 3: Or can I break that up over four weeks?
Speaker 2: Yeah, you're cash flowing things. I love the like I
Speaker 2: have after pay. It's really bad. Also, I'm using it
Speaker 2: really smartly to make sure that my budget is always
Speaker 2: in check.
Speaker 3: Because of the job that I have, I don't have
Speaker 3: to wear you know, super conservative clothing. I can just
Speaker 3: wear whatever, So I buy clothes for work slash, you know,
Speaker 3: still stuff I can wear out. So say off any
Speaker 3: to buy a few items, I might check it on
Speaker 3: after pay. Or we recently had to buy all new
Speaker 3: fans for the property, so we could obviously get a
Speaker 3: little bit more rental income from it being fully you know,
Speaker 3: decked out with fans. And I popped that one after
Speaker 3: pay because that was a couple of hundred and I thought, well,
Speaker 3: I can pay that off over four weeks rather than
Speaker 3: taking it out about like saving slash buffer. At the moment, I.
Speaker 2: Think it's smart if someone says, oh, I have after pay,
Speaker 2: I do really want to dive deep into it and go, well,
Speaker 2: how do you use it? What does that look like?
Speaker 2: Because as I've said one million times on the podcast,
Speaker 2: I cannot be trusted with after pay personally, Like, I'm
Speaker 2: so tap happy you tell me that I can have
Speaker 2: something cheaper nowt Like, I just am an instant gratification girly.
Speaker 2: And while I'm not super proud of that, I think
Speaker 2: it's important to acknowledge because it really helps me understand
Speaker 2: where I'm from. But also sharing it, people are like, oh, actually,
Speaker 2: be that's me too. But then we meet people like
Speaker 2: you who you're like, oh, I actually had to buy
Speaker 2: this thing for my renovated property, and like I did
Speaker 2: a cost benefit analysis and I'd much prefer to cash
Speaker 2: flow it over a few weeks like genius, Like so smart,
Speaker 2: and I think it keeps you, really, I guess centered
Speaker 2: on what's important if you're so across it, So I
Speaker 2: don't think that's a bad money habit, Like I know
Speaker 2: you think it might be, but like I'm not warranting
Speaker 2: that one, so we're just going to go with you
Speaker 2: don't have that many bad money habits.
Speaker 3: Great.
Speaker 2: Last question I've got for you, my love, is at
Speaker 2: the start of this show, you said, I'm a bee,
Speaker 2: what would it take to get to an A plus?
Speaker 3: I don't think I'm quite an A yet because, like
Speaker 3: we have a lot of outgoings as well, so we
Speaker 3: don't have a massive cash flow. But I think my
Speaker 3: relationship with money is, you know, quite on par with
Speaker 3: an A.
Speaker 2: I feel like I've learned so much and I'm like,
Speaker 2: this is not a bee. This incredible human being is
Speaker 2: killing it. Like you are twenty five. Now, you have
Speaker 2: a property, You're really smart about the property, You've strategized it,
Speaker 2: you're renting it out, you're living in a rental. There's
Speaker 2: a planned by another one. You've got two little human
Speaker 2: beings that are entirely dependent on you, and you're still
Speaker 2: setting up your business and hustling from home. Like, I
Speaker 2: don't know if I agree with a bee, but I
Speaker 2: don't really want to have the fight today. And you
Speaker 2: and I both know it's probably a little bit higher,
Speaker 2: so give yourself a little bit of credit.
Speaker 3: Oh thank you.
Speaker 2: I'm so glad I got to have a chat with
Speaker 2: you and learn about your story and your journey and
Speaker 2: where you've come from what we are going. But also
Speaker 2: you can just see from this story there's so far
Speaker 2: to go, Like not in terms of having to change,
Speaker 2: but just there's going to be so many great life
Speaker 2: achievements that I know you'll achieve with the mindset that
Speaker 2: you have, Like it's so exciting. So congratulations, thank you,
Speaker 2: and also thank you for sharing it with the community.
Speaker 2: I feel like you're going to inspire so many other
Speaker 2: young mums to go, wait, she can do that. I
Speaker 2: can do that, I really hope.
Speaker 3: So I feel like it takes like maybe one or
Speaker 3: two years to change your life around, and it's really
Speaker 3: within reach. And you know, coming from a position where
Speaker 3: I would say our money habits were like a D minus,
Speaker 3: Like we were really really bad, and we just switched our
Speaker 3: mindset to well, what is in reach and how can
Speaker 3: we kind of change ourselves and be better? So a
Speaker 3: whole different life is just within reach.
Speaker 2: I love it. I'm obsessed. This is literally why money
Speaker 2: daries are my favorite episode of the week and my
Speaker 2: favorite thing to get to record, Like hanging out with
Speaker 2: you has made my day incredible, So thank you for that. Unfortunately,
Speaker 2: that is all we have time for today, So again,
Speaker 2: thank you so much for sharing with the community. I
Speaker 2: just know that they're going to be as obsessed with
Speaker 2: you as I am with you.
Speaker 3: Thank you for having me. I love listening to the
Speaker 3: podcast and all the other Money diary, so I thought,
Speaker 3: you know what, I'm just going to jump on and
Speaker 3: I'm just going to give it a go and just
Speaker 3: tell my story and tell other women and men and
Speaker 3: anyone that you can change your life and you can
Speaker 3: be in a better position without having to go through
Speaker 3: thousands of dollars in study and all the rest.
Speaker 2: No queen behavior. I love it. Thank you anyway, have
Speaker 2: the best day, and I hope our paths cross soon.
Speaker 3: Thank you very much.
Speaker 2: The advice shared on She's on the Money is general
Speaker 2: in nature and does not consider your individual circumstances. She's
Speaker 2: on the Money exists purely for educational purposes and should
Speaker 2: not be relied upon to make an investment or financial decision.
Speaker 2: If you do choose to buy a financial product, read
Speaker 2: the PDS TMD and obtain appropriate financial advice tailored towards
Speaker 2: your needs. Victoria Divine and She's on the Money are
Speaker 2: authorized representatives of money Shoper Pty Ltd ABN three two
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