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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 2: Hello and welcome.

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Speaker 4: She's on the Money the podcast Millennials who want financial freedom.

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Speaker 4: Welcome back to another one of our Money Diaries episodes

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Speaker 4: where I get the absolute privilege of talking to one

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Speaker 4: of our incredible She's on the Money community members all

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Speaker 4: about their money story. So let's jump straight into it

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Speaker 4: because this week we got a message and it sounded

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Speaker 4: exactly like this. Hi, She's on the Money. I grew

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Speaker 4: up exposed to alcohol and gambling and was always going without.

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Speaker 4: I developed a shopping addiction and hit rock bottom last

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Speaker 4: year after I spent all my money on clothes and

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Speaker 4: moving into state. But last year I began to turn

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Speaker 4: my life around and now I'm ready to buy my

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Speaker 4: first home with my partner. Money Diarist, I feel like

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Speaker 4: that story is giving me a bit of whiplash.

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Speaker 2: Are you ready to have a chat with the community

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Speaker 2: about it?

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Speaker 5: Yes, let's go for it.

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Speaker 2: I'm really excited. The question I always ask upfront is money.

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Speaker 4: Diarist, If I asked you to give yourself a.

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Speaker 2: Grade from A through to a F, what would that

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Speaker 2: grade be?

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Speaker 6: I feel like, at this point in my life, I've

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Speaker 6: done a lot of work, but I've still got a

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Speaker 6: lot of work to do, So at this point in time,

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Speaker 6: I'd get myself.

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Speaker 4: A see see all right, well let's learn more about that.

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Speaker 4: My favorite question of all time, money Diarist, Can you

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Speaker 4: dive a little bit deeper into your money story?

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Speaker 5: Yes?

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Speaker 6: So my money story started early in childhood. So I

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Speaker 6: grew up exposed to a lot of gambling and alcohol addictions.

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Speaker 6: So a lot of my parents paycheck went to that

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Speaker 6: every week, and I grew up having to go without

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Speaker 6: a lot of the things that I wanted and needed

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Speaker 6: as a child. Seeing my parents live paycheck to paycheck

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Speaker 6: was the norm for me, so when I got my

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Speaker 6: first job at fourteen years old, I chose to spend

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Speaker 6: that on clothes and shoes and whatever I needed or

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Speaker 6: wanted at the time, and I never really knew the

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Speaker 6: concept of saving or the importance of it. I actually

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Speaker 6: remember one of my first jobs when I was sixteen

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Speaker 6: years old, working as a hairdresser, and I'd get my

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Speaker 6: full time paycheck of three hundred and fifty dollars a week,

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Speaker 6: and I would go out and spend it that day

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Speaker 6: on my lunch break on whatever I wanted that day,

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Speaker 6: and I would have to go home and ask my

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Speaker 6: mum for petrol money.

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Speaker 5: To be able to get to work the next week.

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Speaker 6: Yeah, that was kind of my story up until I

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Speaker 6: turned around twenty three, where I really realized spending my

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Speaker 6: money in this way was a problem and that I

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Speaker 6: needed to really change my money spending ways.

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Speaker 2: Yeah, that's so fair.

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Speaker 4: I feel like it's really relatable when you're young to

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Speaker 4: just go I've got my paycheck, let's spend it, and

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Speaker 4: you didn't waste any time getting it at lunch time,

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Speaker 4: and then going, oh, well, I haven't really thought this through.

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Speaker 4: I probably need to chat to mum about petrol money.

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Speaker 4: I feel like it's such a common thing, but we

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Speaker 4: don't talk about it because how many times does mum

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Speaker 4: and dad just go all right, no worries, like, let's

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Speaker 4: get this together for you, money diarist, because it's kind

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Speaker 4: of accepted that young people will.

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Speaker 2: Be a little bit frivoless with my they're not so

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Speaker 2: good at it.

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Speaker 4: But instead of sitting you down and going all right, money, Dirris,

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Speaker 4: this is what we need to change. This is how

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Speaker 4: we're going to create Well, this is you know, actually

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Speaker 4: really bad behavior from you. It was just I guess

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Speaker 4: perpetuated and not purposefully. It's just a lack of financial

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Speaker 4: education from everybody's perspective. And I'm just really glad that

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Speaker 4: you're stepping out of that because it's changing the narrative

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Speaker 4: moving forward, Money direst.

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Speaker 2: I know you mentioned it just.

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Speaker 4: Before that one of your first jobs was working as

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Speaker 4: a headdresser. But I want to know what you're doing

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Speaker 4: now and how much money you are earning.

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Speaker 6: I'm currently working in administration and I'm earning seventy thousand

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Speaker 6: before tax per year.

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Speaker 2: Oh very nice? Is that including or excluding.

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Speaker 5: Super excluding super?

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Speaker 4: Oh very very nice? All right, money diris next question

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Speaker 4: I've got for you. I want to know what is

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Speaker 4: your big money goal? What are you currently working towards?

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Speaker 5: So minea.

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Speaker 6: My partner's big money goal is to be financially free,

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Speaker 6: of course, but right now we are working towards a

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Speaker 6: five year plan, which is that when we start having kids,

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Speaker 6: I will be the stay at home parent. We are

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Speaker 6: working towards, I guess, replacing some of my income so

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Speaker 6: that when I'm home with the kids, we don't have

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Speaker 6: to go without. So right now, my partner has just

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Speaker 6: been approved for a home loan and we're currently looking

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Speaker 6: for our first house, and in December, I will be

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Speaker 6: ready to purchase first house under my name.

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Speaker 4: Oh exciting. We're like doubling down. We're not just doing

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Speaker 4: it under one name, We're doing it under both.

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Speaker 2: I love this.

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Speaker 4: I want to be like Superpervy though, because I feel

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Speaker 4: like at the moment, especially in the middle of a

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Speaker 4: cost of living crisis, the idea of being a stay

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Speaker 4: at home parent is getting further and further away from

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Speaker 4: something that is really achievable.

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Speaker 2: What does your.

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Speaker 4: Partner earn, what does he do and how are you

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Speaker 4: going to make this work at some point? Or like,

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Speaker 4: what are you working towards or thinking at this point

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Speaker 4: in time.

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Speaker 5: He is an engineer.

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Speaker 6: He earns one hundred and twenty twenty five thousand per

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Speaker 6: year including super So what we're planning to do within

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Speaker 6: the next five years is pay off one of the

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Speaker 6: mortgages in five years.

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Speaker 5: Yeah, we're going to do it.

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Speaker 2: She's aggressive. I love this.

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Speaker 6: Yeah, we're going to pay off one of the mortgages

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Speaker 6: and have the full benefit of that rental income.

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Speaker 4: I love this so much, but I want to know

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Speaker 4: a little bit more. I'm so pervy. I'm so sorry,

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Speaker 4: but I know that everybody else listening is as well.

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Speaker 4: So like I've just got to step up and ask

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Speaker 4: the hard hitting questions. How much are you looking at

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Speaker 4: taking when it comes to a mortgage, Like what does

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Speaker 4: that look like?

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Speaker 2: And how will we paying off.

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Speaker 4: A mortgage in I don't know five years, because like

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Speaker 4: I know, it's going to take me the full thirty So.

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Speaker 6: My partner has a thirty five thousand dollar deposit to

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Speaker 6: buy his first home, and ideally we're looking at going

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Speaker 6: the cheaper the better. What we really need is just

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Speaker 6: some thing to live in for the meantime and something

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Speaker 6: that can be rented out to other people as an investment.

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Speaker 6: So ideally looking for like a one bedroom or a

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Speaker 6: two bedroom.

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Speaker 5: Yeah, as cheap as possible.

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Speaker 6: So ideally we'd like to spend around three twenty five

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Speaker 6: and we have been finding things in our price range.

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Speaker 6: But I guess it all comes down to what you're

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Speaker 6: expecting that place to be for us. It's not our

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Speaker 6: forever home. We've lived in rentals that have been much

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Speaker 6: worse than the ones we're looking at, and yeah, we're

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Speaker 6: really happy to sacrifice a few of the luxury home

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Speaker 6: things that we would love for that greater goal of

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Speaker 6: being a stay at home parent.

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Speaker 2: I love it.

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Speaker 4: I want to know, are you planning on moving into

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Speaker 4: that property so that you can get all of the

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Speaker 4: benefits of like first home buyers and stuff like that.

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Speaker 6: Yes, so we're planned to move into the property. We

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Speaker 6: are doing the fifteen percent government grant for the first property,

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Speaker 6: so we only need a five percent deposit. But basically

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Speaker 6: we're just going to put everything that we can towards

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Speaker 6: that and make a lot of sacrifices throughout the next

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Speaker 6: five years for that to be a possibility for us.

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Speaker 4: Yeah, I love that so much. I'm seeing so many

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Speaker 4: young people like yourself going all right, Well, the property

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Speaker 4: dream is definitely a dream of ours, but it doesn't

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Speaker 4: look the same way it used to for our parents

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Speaker 4: or our parents' parents. Now we need to buy stepping

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Speaker 4: stone properties and instead of just going straight into the

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Speaker 4: family home and you know, having a kid and not

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Speaker 4: working anymore, it's kind of we buy these smaller properties,

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Speaker 4: we pay them off, or pay a significant amount of

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Speaker 4: them off, use the equity in that property to get

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Speaker 4: into our next property, and kind of start growing our

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Speaker 4: portfolio that way.

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Speaker 2: And it makes so much sense.

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Speaker 4: And I just feel like sometimes we have to start

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Speaker 4: small and grow because that's what creates ultimate wealth, whereas

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Speaker 4: a lot of us And I mean I was the

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Speaker 4: same purchasing my first home.

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Speaker 2: I was like, oh, I.

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Speaker 4: Don't know if I want to compromise, Like I don't

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Speaker 4: know if I want to you know, go small and

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Speaker 4: you know, do all of the things that I need

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Speaker 4: to do. I just really wanted my dream home up front.

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Speaker 4: I feel like it's now starting to pay off. Like

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Speaker 4: my partner and I bought our home nearly four years ago,

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Speaker 4: or just over four years actually ago, and now I'm

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Speaker 4: looking at it going I'm really glad that we bought

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Speaker 4: a home that was smaller than what we technically could

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Speaker 4: have purchased, and we adore it still. But I think

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Speaker 4: it's put us in a really secure position, especially when

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Speaker 4: we know that interest rates are terrifying at the moment

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Speaker 4: as well. Is that something you guys have discussed and gone,

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Speaker 4: all right, well, what happens if there's another interest rate hike?

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Speaker 6: Yeah, so we have discussed that, and that's why our

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Speaker 6: plan is ideally the cheaper the better. We know that

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Speaker 6: there's always something that may happen, so we don't really

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Speaker 6: think for us that it's a smart idea to max

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Speaker 6: out our loan capacity on one property, because we have

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Speaker 6: to consider the fact that in five years we're only

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Speaker 6: going to be on one income. Yeah, so I think

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Speaker 6: for us, we just want to make sure that we're

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Speaker 6: living within our means and not maxing out our own capacity.

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Speaker 2: I love this.

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Speaker 4: I feel like you guys have thought about it so much,

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Speaker 4: and I already know I want to have a little

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Speaker 4: bit of a disagreement with you about that. See, you

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Speaker 4: gave yourself at the start, but even though I have

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Speaker 4: heaps of questions, we need to go to a really

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Speaker 4: quick break and then on the flip side. We're going

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Speaker 4: to be talking about investments, We're going to be talking

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Speaker 4: about debt. And I want to know your best and

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Speaker 4: your worst money habits because I have a sneaky suspicion

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Speaker 4: you've built a couple of really good ones we're all

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Speaker 4: going to want to steal. So guys don't go anywhere.

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Speaker 4: All right, money Diarist, We are back, and I want

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Speaker 4: to know do you invest?

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Speaker 2: If so, what in If not? Do you have a plan.

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Speaker 6: Yes, so I do have investments, but I'm not currently investing,

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Speaker 6: as those savings are going towards my first property. Back

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Speaker 6: in twenty twenty, I bought shares in Vanguard and in

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Speaker 6: BHP for twenty eight hundred dollars, which at that point

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Speaker 6: was the most money I had ever said in my life.

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Speaker 6: And now those shares are at three thousand, five hundred.

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Speaker 2: Oh I love this.

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Speaker 4: So I'm assuming when you say Vanguard you purchased a

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Speaker 4: Vanguard ETF.

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Speaker 2: Is that correct?

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Speaker 5: Yes?

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Speaker 4: So how did you pick that ETF? And why did

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Speaker 4: you pick BHP as a direct share?

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Speaker 6: So I'd seen my partner invest and he's got quite

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Speaker 6: a large portfolio, and I was there looking at all

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Speaker 6: of the behind the scenes of what he was doing

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Speaker 6: and how he was investing his money, and we were

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Speaker 6: learning a lot of this stuff together just off basic

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Speaker 6: YouTube videos. We're definitely not the best investors, but we

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Speaker 6: made a decision just to see how it went, and

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Speaker 6: that's what we decided to put our money in.

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Speaker 4: I love it because I feel like Vanguard and BHP

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Speaker 4: they're both blue chip, really solid stocks that have existed

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Speaker 4: for a really long time. The Vanguard is going to

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Speaker 4: have given you some really good instant diversification, which I'm

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Speaker 4: sure you already know because we love an exchange traded

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Speaker 4: fund for that purpose. What made you go with Vanguard

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Speaker 4: though there's lots of ETFs on the market. Was it

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Speaker 4: tried and true or was it something that your partner

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Speaker 4: had suggested, or were you just like, look, this just

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Speaker 4: feels like a good option. How did you come to

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Speaker 4: the decision of Vanguard with the ATF providers?

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Speaker 6: For me, yes, so Vanguard was what my partner invested in,

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Speaker 6: and the reason I chose to go with it was

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Speaker 6: because there's a lot of information on the Internet about Vanguard,

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Speaker 6: and for me, I wanted to invest into something that

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Speaker 6: I thought was safe. So with there being that information,

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Speaker 6: that felt like the safest option to me, just to

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Speaker 6: see how it went, because at that point in time,

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Speaker 6: twy eight hundred dollars was a lot of money to me.

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Speaker 4: It's still a lot of money, Like twenty eight hundred

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Speaker 4: dollars is life changing, and the fact that you were

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Speaker 4: able to invest it, like it makes me so happy

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Speaker 4: because you told us at the start that you know,

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Speaker 4: you grew up and you were exposed to alcohol and gambling,

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Speaker 4: and now you're an investor, Like that's literally the opposite

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Speaker 4: of gambling, Like you are creating wealth instead of like

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Speaker 4: hoping that one day you'll have a big win. Like

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Speaker 4: I adore the fact that this is kind of like

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Speaker 4: flipping the narrative.

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Speaker 2: Complete side note.

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Speaker 4: Is this something that has been hard to work through

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Speaker 4: or is it something that you've been like no v

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Speaker 4: like once I realized that this was an option that

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Speaker 4: was really easy, or what has that pathway looked like

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Speaker 4: for you?

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Speaker 6: It has been really hard. I would say it's a

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Speaker 6: lot easier now than it used to be. I first

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Speaker 6: started self development when I was around twenty or twenty

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Speaker 6: one and realized that a lot of the things that

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Speaker 6: were happening in my life that I didn't like were

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Speaker 6: due to what I was exposed to as a child.

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Speaker 6: So yeah, it was really hard to work through in

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Speaker 6: the beginning, especially my money story. I think that's one

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Speaker 6: of the hardest things I've had to work through, to

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Speaker 6: really take something that was so so negative and turn

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Speaker 6: it into something that is more than just the average

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Speaker 6: or more than just the normal. I'm not trying to

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Speaker 6: be normal. I'm trying to be better than that. And yeah,

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Speaker 6: to take something that was so bad and turn it

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Speaker 6: into something so good has been hard.

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Speaker 5: But I would rather the harder.

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Speaker 6: Option than the easier option of just staying normal.

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Speaker 2: I love it so much.

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Speaker 4: Are you really proud of what you've done, because like

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Speaker 4: no one else has done that for you. You've done that.

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Speaker 4: Is that something that you're proud of? And do you

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Speaker 4: ever reflect on that? Yeah, I'm very proud of it.

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Speaker 4: Like growing up in a household where I didn't have

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Speaker 4: any financial education, to have found all of these tools

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Speaker 4: and resources on my own and done that work on

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Speaker 4: my own, Yeah, it's one of the things that I'm

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Speaker 4: most proud of in my life.

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Speaker 2: I love it so much.

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Speaker 4: I know I've said that so many times, but like

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Speaker 4: I just do I want to know now do you

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Speaker 4: have any debt?

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Speaker 2: If so, what is it?

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Speaker 5: Yes?

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Speaker 6: So I was studying a few years ago and then

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Speaker 6: decided to change my career. So I have a hex

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Speaker 6: step of seventeen thousand dollars.

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Speaker 2: That's okay?

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Speaker 4: And what study was that and how did it pivot

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Speaker 4: and change? I know you said before that you work

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Speaker 4: in admin. At the moment, what were you studying to

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Speaker 4: be or become or the thought patterns there?

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Speaker 6: So I was studying to be a primary school teacher.

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Speaker 5: Oh cool?

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Speaker 6: And I started studying late when I was twenty one.

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Speaker 6: I never really knew what career I wanted to be in.

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Speaker 6: I just knew that I wanted to do something that

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Speaker 6: was caring and nurturing, and I thought that was the

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Speaker 6: right role for me. But after completing a couple of placements,

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Speaker 6: I realized how much work it would be, and I

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Speaker 6: just decided that that was not the best career path

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Speaker 6: for me to really exercise the skills that I wanted

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Speaker 6: to exercise.

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Speaker 2: I love that. I feel like so many of us

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Speaker 2: start studying.

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Speaker 4: And even though you probably look back on this and go,

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Speaker 4: oh my gosh, that's seventeen grand that's such a waste

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Speaker 4: of money, I am absolutely certain that you have so

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Speaker 4: much more clarity now in what you want your life

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Speaker 4: to look like. And you've probably got a heap of

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Speaker 4: skills that maybe you're not even recognizing from that study

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Speaker 4: that really help you right now. When you become a

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Speaker 4: stay at home I know that that was the plan.

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Speaker 4: Is that something that you're like, Yep, that's like everything

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Speaker 4: I've ever wanted to achieve? Or is that a look

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Speaker 4: that makes the most sense for us? And I will

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Speaker 4: do that until the kids go to school and then

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Speaker 4: you know, get back into a career.

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Speaker 2: So what does that look like for you?

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Speaker 5: Yes?

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Speaker 6: So for me, from a very young age, I've always

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Speaker 6: known that I've wanted to be a mum. I became

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Speaker 6: an auntie at fourteen years old and that just absolutely

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Speaker 6: solidified it to me.

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Speaker 2: You're like, I'm sold, I'm done.

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Speaker 6: Yeah, that is my absolute favorite role ever. And I've

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Speaker 6: always been really good with children. I've always loved children.

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Speaker 6: It just comes really natural to me. So it is

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Speaker 6: my end goal to be a stay at home mum. However,

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Speaker 6: I do have other passions and I would love when

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Speaker 6: my children are old enough, when they're in primary school,

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Speaker 6: to have my own business and yeah, do something that

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Speaker 6: I'm really passionate about after I've dedicated that time to

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Speaker 6: having children.

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Speaker 2: I love it.

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Speaker 4: As a new mam, I can absolutely agree that it

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Speaker 4: is really hard to leave them. Like I didn't think

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Speaker 4: it would be as hard as it was, because I

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Speaker 4: obviously adore everything that I do, and I find my

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Speaker 4: job to be an absolute privilege.

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Speaker 2: But even then, I'm like, oh, money diaries, I love it,

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Speaker 2: but like Harvey's.

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Speaker 4: At home, like it's the hardest thing in the entire world.

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Speaker 4: So I absolutely get it. Historically, I've got lots of

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Speaker 4: friends who have been like, nah, being a mom, Like

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Speaker 4: that's my career goal, that's everything I ever want to achieve,

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Speaker 4: and I'm like, great, fantastic. I get it even more

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Speaker 4: now as someone who's been really career focused and now

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Speaker 4: has a baby, I'm like, oh, I can see why

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Speaker 4: you don't want to return to work.

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Speaker 2: I get it.

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Speaker 4: Especially if it wasn't something that I was super passionate about.

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Speaker 4: I don't know where I'd find the motivation to return. Obviously,

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Speaker 4: financially it would be an absolute stretch. But I just

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Speaker 4: look at it and I go, I totally get this

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Speaker 4: money diarist. I want to know a bit more about

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Speaker 4: your best and worst money habits. We'll start with best

385
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Speaker 4: money habits. What is your best money habit? And can

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Speaker 4: you share it with me?

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Speaker 5: Yes?

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Speaker 6: So, I've tried to think about this really long and hard,

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Speaker 6: but I don't think I can narrow it just down

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Speaker 6: to one because of how much progress I've made.

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Speaker 5: I feel like there are three really big things that

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Speaker 5: contribute to that.

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Speaker 6: Number one being budgeting and knowing what bills I have,

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Speaker 6: when they're going to come out, how much they are.

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Speaker 6: I really keep track of those things very well, and

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Speaker 6: I know what's coming in and going out of my

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Speaker 6: account on a daily basis, and I plan for that

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Speaker 6: in my budget.

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Speaker 2: Oh I love this.

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Speaker 4: Before I get into your second good money habit, can

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Speaker 4: you tell me a bit more about how you budget,

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Speaker 4: Like is that something that you know it's in your

403
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Speaker 4: head or is it on the back of an envelope

404
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Speaker 4: or do you have a really really comprehensive spreadsheet like

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Speaker 4: what works for you?

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Speaker 5: Yeah, so it's a bit of both.

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Speaker 6: I do have a note in my phone that says

408
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Speaker 6: my income and all of my outgoings. So I get

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Speaker 6: paid fortnightly two one hundred dollars and I have seven

410
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Speaker 6: hundred and fifty dollars of set bills per fortnite. Whenever

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Speaker 6: I have internet or a phone bill come out, I

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00:19:09,240 --> 00:19:12,760
Speaker 6: will just take that out of the pay for that cycle,

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Speaker 6: and then I will usually save the rest. So on average,

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Speaker 6: it works out that I save one thousand dollars a fortnight.

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Speaker 4: Oh my gosh, that's epic. Is that hard or is

416
00:19:23,160 --> 00:19:25,680
Speaker 4: that easy? Like I feel like one thousand dollars a fortnite.

417
00:19:25,680 --> 00:19:29,080
Speaker 4: That's truckloads of money to me, especially on your salary,

418
00:19:29,119 --> 00:19:30,240
Speaker 4: Like that is really cool.

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Speaker 5: It's hard and easy.

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Speaker 6: At the same time, I feel like there are a

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Speaker 6: lot of things that I have to sacrifice.

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Speaker 5: And choose to go without.

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Speaker 6: But for our budget, my partner pays our rent and

424
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Speaker 6: I pay all our other expenses, so it works out

425
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Speaker 6: to be around.

426
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Speaker 5: Fifty to fifty.

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Speaker 6: It's hard because I have to sacrifice a lot of things,

428
00:19:49,760 --> 00:19:52,520
Speaker 6: but also at the same time, it's easy because every

429
00:19:52,560 --> 00:19:55,080
Speaker 6: time I get paid, I see that number in the

430
00:19:55,119 --> 00:19:57,479
Speaker 6: thousands go up every time, and it just gives me

431
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Speaker 6: so much motivation to want to sackle even more that

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Speaker 6: fortnight to be able to make it larger.

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Speaker 4: Yeah, I feel like it's a snowball effect, like when

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Speaker 4: you have no savings, You're like, what is the point,

435
00:20:07,720 --> 00:20:10,760
Speaker 4: Like why should I bother? Like, there's no reason why

436
00:20:10,840 --> 00:20:13,480
Speaker 4: I should, you know, put this extra thousand dollars into

437
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Speaker 4: my account.

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00:20:13,960 --> 00:20:15,320
Speaker 2: It'll be gone in a couple of weeks.

439
00:20:15,359 --> 00:20:17,520
Speaker 4: And then it like starts to compound, and then you

440
00:20:17,560 --> 00:20:20,199
Speaker 4: start to feel like fiercely protective over it. You know,

441
00:20:20,280 --> 00:20:22,399
Speaker 4: it gets to like five thousand dollars and you're like,

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Speaker 4: holy heck, that's the most amount of money I've ever

443
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Speaker 4: seen in my life. And then it gets to ten thousand,

444
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Speaker 4: You're like, holy moly, that is a five figure amount,

445
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Speaker 4: Like I don't know what I'm going to do here,

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00:20:31,160 --> 00:20:34,600
Speaker 4: And I find that that's one really motivating, but then

447
00:20:34,640 --> 00:20:38,480
Speaker 4: it makes the process of purchasing property like one exciting,

448
00:20:38,680 --> 00:20:41,080
Speaker 4: but two really overwhelming because you're like, wait, wait, wait, wait,

449
00:20:41,119 --> 00:20:43,000
Speaker 4: my savings are going to go and I've worked so

450
00:20:43,200 --> 00:20:46,399
Speaker 4: hard for these and even though you know that was

451
00:20:46,480 --> 00:20:49,960
Speaker 4: actually the goal, like separating from them can feel, I

452
00:20:49,960 --> 00:20:52,520
Speaker 4: don't know, emotionally distressing mm hmmm.

453
00:20:52,720 --> 00:20:55,240
Speaker 6: And I feel like I as well have my savings

454
00:20:55,240 --> 00:20:57,959
Speaker 6: in a locked bank account, so if I want to

455
00:20:58,320 --> 00:21:01,600
Speaker 6: access any of those funds, I have to do it

456
00:21:01,640 --> 00:21:04,159
Speaker 6: with thirty two days notice to be able to access them.

457
00:21:04,200 --> 00:21:08,119
Speaker 6: So I feel like that really keeps me accountable, especially

458
00:21:08,680 --> 00:21:11,080
Speaker 6: with having that background of shopping addiction. I can't just

459
00:21:11,200 --> 00:21:13,639
Speaker 6: unlock my savings and spend it straight away. I have

460
00:21:13,720 --> 00:21:17,080
Speaker 6: to really think about something. So I've had them locked

461
00:21:17,119 --> 00:21:19,119
Speaker 6: now for six months and I have not touched them

462
00:21:19,119 --> 00:21:19,359
Speaker 6: at all.

463
00:21:19,440 --> 00:21:19,920
Speaker 2: Oh my gosh.

464
00:21:20,000 --> 00:21:22,760
Speaker 4: I need to know because everyone else is gonna ask

465
00:21:23,200 --> 00:21:25,920
Speaker 4: thirty two days to be able to access your savings,

466
00:21:26,200 --> 00:21:29,240
Speaker 4: especially for someone you know who's a little bit spent happy.

467
00:21:29,520 --> 00:21:31,199
Speaker 4: What bank you with, how are you doing that?

468
00:21:32,040 --> 00:21:32,280
Speaker 5: Yes?

469
00:21:32,359 --> 00:21:35,280
Speaker 6: So I am with Virgin Money. I think it's their

470
00:21:35,520 --> 00:21:39,040
Speaker 6: basic saver. So it just has an automatic lock feature,

471
00:21:39,040 --> 00:21:40,520
Speaker 6: and it does let you know that you have to

472
00:21:40,560 --> 00:21:43,560
Speaker 6: request to unlock your bank account thirty two days before

473
00:21:43,600 --> 00:21:47,000
Speaker 6: you need those funds, and they give three or four

474
00:21:47,040 --> 00:21:49,439
Speaker 6: percent interest for locking those savings in there, so you

475
00:21:49,480 --> 00:21:51,240
Speaker 6: get a boas interest.

476
00:21:51,800 --> 00:21:52,040
Speaker 1: Yeah.

477
00:21:52,119 --> 00:21:52,439
Speaker 5: Cool.

478
00:21:52,680 --> 00:21:55,199
Speaker 4: I love not only that you are making money on

479
00:21:55,240 --> 00:21:58,320
Speaker 4: your money, because that is very sexy, but I love

480
00:21:58,400 --> 00:22:00,840
Speaker 4: that they give you the option of locking it away

481
00:22:01,000 --> 00:22:03,359
Speaker 4: or not. Like I love that flexibility, but I also

482
00:22:03,600 --> 00:22:06,119
Speaker 4: love the idea that you have complete transparency. You know

483
00:22:06,160 --> 00:22:08,520
Speaker 4: where it is, you can absolutely see it, you just

484
00:22:08,640 --> 00:22:11,800
Speaker 4: can't touch it. I feel like that's really powerful, obviously

485
00:22:11,880 --> 00:22:13,840
Speaker 4: for you, but also for lots of other people, So

486
00:22:13,920 --> 00:22:17,000
Speaker 4: thank you for sharing that. I want to flip the narrative, though,

487
00:22:17,040 --> 00:22:20,200
Speaker 4: I need to know what are your worst money habits.

488
00:22:20,880 --> 00:22:26,399
Speaker 6: I think my worst money habits are buying things that

489
00:22:26,440 --> 00:22:30,280
Speaker 6: I don't need just because I can, and just viewing

490
00:22:30,359 --> 00:22:34,520
Speaker 6: the money in my personal account or my bills account

491
00:22:34,600 --> 00:22:38,880
Speaker 6: that I do have access to as spending money instead

492
00:22:38,920 --> 00:22:42,560
Speaker 6: of for its intended purpose. I think that is definitely

493
00:22:42,760 --> 00:22:43,480
Speaker 6: my worst habit.

494
00:22:43,720 --> 00:22:46,280
Speaker 4: Yeah, I feel like that's really relatable though, Like so

495
00:22:46,400 --> 00:22:48,479
Speaker 4: many of us just see money in our bank account,

496
00:22:48,480 --> 00:22:50,600
Speaker 4: You're like, well, it's there, and I can't think of

497
00:22:50,640 --> 00:22:53,159
Speaker 4: anything right this second that I need to spend it on.

498
00:22:53,600 --> 00:22:56,159
Speaker 4: And then like your Red Joe or your insurance creeps

499
00:22:56,200 --> 00:22:57,639
Speaker 4: up and you're like, oh my gosh, where did that

500
00:22:57,680 --> 00:22:59,600
Speaker 4: money go? And you're like, I'm holding it in my

501
00:22:59,680 --> 00:23:02,119
Speaker 4: hand in this new top that I just purchased.

502
00:23:02,200 --> 00:23:02,800
Speaker 2: How annoying.

503
00:23:03,440 --> 00:23:06,959
Speaker 4: I feel like you have a really interesting money story.

504
00:23:07,320 --> 00:23:10,879
Speaker 4: Having grown up exposed to alcohol and gambling and going

505
00:23:10,920 --> 00:23:13,200
Speaker 4: without it makes a lot of sense that that kind

506
00:23:13,200 --> 00:23:17,320
Speaker 4: of manifested into having a shopping addiction. I find it

507
00:23:17,440 --> 00:23:20,760
Speaker 4: very common when you go without, it's kind of like whiplash.

508
00:23:20,920 --> 00:23:23,400
Speaker 4: You go, all right, I've gone without for so long,

509
00:23:23,440 --> 00:23:25,160
Speaker 4: I'm going to look after myself. I'm going to get

510
00:23:25,160 --> 00:23:28,639
Speaker 4: myself everything that I deserve. And it totally makes sense.

511
00:23:28,720 --> 00:23:31,720
Speaker 4: But then recovering from that is really really challenging, and

512
00:23:31,760 --> 00:23:33,919
Speaker 4: it sounds like you're killing it, like you have a

513
00:23:34,000 --> 00:23:38,480
Speaker 4: planned not only purchased two houses in the next few years,

514
00:23:38,840 --> 00:23:43,120
Speaker 4: but also like you're forward planning so well that you're like, Nope,

515
00:23:43,119 --> 00:23:45,320
Speaker 4: we're gonna go on to one income, We're going to

516
00:23:45,359 --> 00:23:47,919
Speaker 4: pay off one of our mortgages in five years. Like

517
00:23:48,000 --> 00:23:50,120
Speaker 4: this is the plan. Not only is it the plan,

518
00:23:50,200 --> 00:23:52,840
Speaker 4: it's really well thought out, Like I'm saving a one

519
00:23:52,840 --> 00:23:56,080
Speaker 4: thousand dollars per fortnite, Like, girl, you're saving two grand

520
00:23:56,119 --> 00:23:58,159
Speaker 4: a month. That's twenty six thousand dollars a year. Be

521
00:23:58,240 --> 00:24:01,359
Speaker 4: for real, Like that is so so much money. And

522
00:24:01,480 --> 00:24:05,120
Speaker 4: I am genuinely shocked that you've like literally turned your

523
00:24:05,160 --> 00:24:08,760
Speaker 4: story around so well. But I need to know how

524
00:24:08,800 --> 00:24:10,960
Speaker 4: does this and the fact that you're on top of

525
00:24:11,000 --> 00:24:13,639
Speaker 4: budgeting and you clearly know so much about how to

526
00:24:13,680 --> 00:24:16,360
Speaker 4: purchase property, why are you a C. Tell me more

527
00:24:16,400 --> 00:24:18,800
Speaker 4: about this grade and why you gave it to yourself,

528
00:24:18,840 --> 00:24:22,200
Speaker 4: and do you actually think after talking whether that's maybe

529
00:24:22,240 --> 00:24:23,359
Speaker 4: the right grade for you.

530
00:24:23,760 --> 00:24:28,280
Speaker 6: I think maybe I could review my grade. Yeah, I

531
00:24:28,320 --> 00:24:30,480
Speaker 6: feel that I'm a little bit harsh on myself in

532
00:24:30,520 --> 00:24:34,000
Speaker 6: this area, especially with the past of shopping addiction. I

533
00:24:34,080 --> 00:24:38,280
Speaker 6: feel a little bit negative whenever I buy things now

534
00:24:38,359 --> 00:24:40,359
Speaker 6: will spend my money in the way that I know

535
00:24:40,880 --> 00:24:43,240
Speaker 6: is not best for me and my future. So I

536
00:24:43,280 --> 00:24:46,439
Speaker 6: feel like that's where the CEA comes from. But yeah,

537
00:24:46,480 --> 00:24:49,400
Speaker 6: now listing all of that progress I've made and where

538
00:24:49,400 --> 00:24:51,520
Speaker 6: I was versus where I am, I think I could

539
00:24:51,600 --> 00:24:52,840
Speaker 6: definitely review that.

540
00:24:53,200 --> 00:24:55,880
Speaker 4: I think it definitely needs a little review. Like I

541
00:24:55,920 --> 00:24:57,879
Speaker 4: was just so impressed even when you said, look, I

542
00:24:57,960 --> 00:24:59,959
Speaker 4: know that I have seven hundred and fifty dollars well

543
00:25:00,160 --> 00:25:02,359
Speaker 4: of set bills each and every single fortnite, Like that

544
00:25:02,520 --> 00:25:04,919
Speaker 4: is something that not many people can say, and I

545
00:25:04,960 --> 00:25:06,960
Speaker 4: know to you at this stage in your journey, you're

546
00:25:07,000 --> 00:25:09,600
Speaker 4: probably thinking, like, oh, V, that's actually not that big.

547
00:25:09,640 --> 00:25:11,840
Speaker 4: I just know what's going out of my bank account.

548
00:25:12,080 --> 00:25:15,119
Speaker 4: Like that's where power starts to come into play, Like

549
00:25:15,280 --> 00:25:19,159
Speaker 4: you have complete power over your money and historically when

550
00:25:19,200 --> 00:25:21,560
Speaker 4: you had a shopping addiction that wasn't the case. Like,

551
00:25:21,600 --> 00:25:24,560
Speaker 4: I just see so much progress here that I'm just like,

552
00:25:24,600 --> 00:25:26,679
Speaker 4: oh my gosh, Like she's actually going to do what

553
00:25:26,760 --> 00:25:28,919
Speaker 4: she says she's going to do, because she's doing it

554
00:25:29,040 --> 00:25:29,600
Speaker 4: right now.

555
00:25:29,960 --> 00:25:31,960
Speaker 2: So not only should you be super proud, but I.

556
00:25:31,880 --> 00:25:34,960
Speaker 4: Think maybe a little bit of thought around that sea

557
00:25:35,080 --> 00:25:37,199
Speaker 4: and giving yourself a little bit more credit for the

558
00:25:37,240 --> 00:25:41,000
Speaker 4: progress that you've created solely on your own, Like you're

559
00:25:41,080 --> 00:25:43,399
Speaker 4: killing it and I'm so proud of you. I am

560
00:25:43,440 --> 00:25:45,880
Speaker 4: going to gift you our budget and cashflow masterclass because

561
00:25:45,880 --> 00:25:47,359
Speaker 4: you said that you were good at budgeting, but I

562
00:25:47,400 --> 00:25:49,000
Speaker 4: think we can take it to the next level. So

563
00:25:49,200 --> 00:25:51,240
Speaker 4: I will sort that out with you after because I

564
00:25:51,280 --> 00:25:54,520
Speaker 4: think that that is going to change the fact that

565
00:25:54,560 --> 00:25:57,680
Speaker 4: you keep dipping into those not savings but into your

566
00:25:57,680 --> 00:26:00,399
Speaker 4: spending account. It'll give you even more control and we

567
00:26:00,480 --> 00:26:03,480
Speaker 4: love that. But money Diarist, I'm really sorry to say

568
00:26:03,480 --> 00:26:05,240
Speaker 4: that that's all we have time for today because I

569
00:26:05,280 --> 00:26:06,800
Speaker 4: have a million other questions.

570
00:26:07,080 --> 00:26:08,720
Speaker 2: But thank you for sharing your story.

571
00:26:08,760 --> 00:26:11,000
Speaker 4: Thank you for being so open and letting me be

572
00:26:11,160 --> 00:26:13,880
Speaker 4: pervy on your partner and be pervy on to basically

573
00:26:13,960 --> 00:26:16,840
Speaker 4: every single detail of your life, including your plan to

574
00:26:16,840 --> 00:26:17,399
Speaker 4: have kids.

575
00:26:17,720 --> 00:26:19,000
Speaker 2: That was really kind of you.

576
00:26:19,119 --> 00:26:21,760
Speaker 4: But it's been really inspiring hearing your story, and I

577
00:26:21,800 --> 00:26:23,960
Speaker 4: just know that our community is going to adore it

578
00:26:24,000 --> 00:26:24,960
Speaker 4: as much as I did.

579
00:26:25,200 --> 00:26:26,320
Speaker 5: Thanks so much for having me.

580
00:26:30,920 --> 00:26:33,480
Speaker 4: The advice shared on She's on the Money is general

581
00:26:33,520 --> 00:26:37,399
Speaker 4: in nature and does not consider your individual circumstances. She's

582
00:26:37,440 --> 00:26:40,879
Speaker 4: on the Money exists purely for educational purposes and should

583
00:26:40,920 --> 00:26:44,080
Speaker 4: not be relied upon to make an investment or financial decision.

584
00:26:44,480 --> 00:26:46,920
Speaker 4: If you do choose to buy a financial product, read

585
00:26:46,960 --> 00:26:51,080
Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards

586
00:26:51,119 --> 00:26:54,400
Speaker 4: your needs. Victoria Divine and She's on the Money are

587
00:26:54,440 --> 00:26:59,440
Speaker 4: authorized representatives of money. Sheper pty Ltd ABN three two

588
00:26:59,480 --> 00:27:02,840
Speaker 4: one six four nine two seven seven zero eight a

589
00:27:03,040 --> 00:27:07,479
Speaker 4: f s L four five one two eight nine