1 00:00:00,680 --> 00:00:04,920 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 2 00:00:04,960 --> 00:00:08,680 Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before 3 00:00:08,680 --> 00:00:11,160 Speaker 1: we get started on She's on the Money podcast, I 4 00:00:11,160 --> 00:00:14,319 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:17,720 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,240 Speaker 1: acknowledging the elders, the ancestors and the next generation coming 7 00:00:22,320 --> 00:00:26,960 Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing 8 00:00:27,080 --> 00:00:30,120 Speaker 1: and the storytelling of you to make a difference for 9 00:00:30,240 --> 00:00:32,640 Speaker 1: today and lasting impact for tomorrow. 10 00:00:33,320 --> 00:00:34,120 Speaker 2: Let's get into it. 11 00:00:34,760 --> 00:00:36,560 Speaker 3: She's on the Money. 12 00:00:36,720 --> 00:00:59,720 Speaker 2: She's on the Money. Hello, and welcome to She's on 13 00:00:59,720 --> 00:01:04,080 Speaker 2: the the podcast for millennials who want financial freedom. Welcome 14 00:01:04,080 --> 00:01:06,039 Speaker 2: back to another one of our money diaries. What I 15 00:01:06,120 --> 00:01:08,640 Speaker 2: get the absolute pleasure of talking to one of our 16 00:01:08,680 --> 00:01:12,640 Speaker 2: incredible She's on the Money community members all about their journey. 17 00:01:12,959 --> 00:01:15,360 Speaker 2: Let's jump straight into it, because this week I got 18 00:01:15,400 --> 00:01:18,720 Speaker 2: a message and it went like this, Hi V, I'd 19 00:01:18,760 --> 00:01:21,440 Speaker 2: like to share my property story as in amongst my 20 00:01:21,560 --> 00:01:24,560 Speaker 2: friendship group, my partner and I are definitely on the 21 00:01:24,600 --> 00:01:27,760 Speaker 2: more risky side of things. We bought our one point 22 00:01:27,880 --> 00:01:31,760 Speaker 2: five million dollar home in our dream suburb, then rented 23 00:01:31,760 --> 00:01:34,120 Speaker 2: it because we couldn't afford to live in it. Earlier 24 00:01:34,160 --> 00:01:36,959 Speaker 2: this year, my partner took a fifty thousand dollar pay cut, 25 00:01:37,040 --> 00:01:40,759 Speaker 2: and like everyone else, our repayments are increasing. We're about 26 00:01:40,760 --> 00:01:42,720 Speaker 2: to move in, and I want to share my story 27 00:01:42,760 --> 00:01:47,280 Speaker 2: of calculated risk taking with the community. Money Diarist. I'm 28 00:01:47,440 --> 00:01:48,680 Speaker 2: so excited about this. 29 00:01:49,280 --> 00:01:50,400 Speaker 3: That's a really good summary. 30 00:01:50,440 --> 00:01:54,560 Speaker 2: Actually, I mean, it's not bad, is it. You wrote it, 31 00:01:54,640 --> 00:01:56,280 Speaker 2: so I'm pretty proud of it. 32 00:01:58,120 --> 00:01:59,080 Speaker 3: About that. 33 00:01:59,280 --> 00:02:01,800 Speaker 2: I'm really excited to hear about your story because I 34 00:02:01,800 --> 00:02:05,280 Speaker 2: feel like, in this day and age, with the property 35 00:02:05,320 --> 00:02:08,680 Speaker 2: prices increasing in the way that they are, one point 36 00:02:08,720 --> 00:02:12,000 Speaker 2: five million dollars is kind of becoming the norm for 37 00:02:12,200 --> 00:02:16,880 Speaker 2: a family home, and it's also becoming really overwhelming. Like 38 00:02:16,919 --> 00:02:19,520 Speaker 2: to me, that sounds like just so so so much money. 39 00:02:20,639 --> 00:02:23,280 Speaker 2: But let's get into it. Are you ready? Yes, I'm ready, 40 00:02:23,320 --> 00:02:25,800 Speaker 2: all right, Money direst The first question I always start 41 00:02:25,840 --> 00:02:28,240 Speaker 2: with is if I asked you to grade yourself and 42 00:02:28,240 --> 00:02:30,920 Speaker 2: your money habits on a scale of eighth through to F, 43 00:02:31,000 --> 00:02:32,280 Speaker 2: what would you grade yourself? 44 00:02:32,440 --> 00:02:35,000 Speaker 3: I think I would grade myself a B. 45 00:02:34,960 --> 00:02:38,280 Speaker 2: Plus B plus. She's got a one point five million 46 00:02:38,320 --> 00:02:42,040 Speaker 2: dollar home guys, and she's a B plus. Alright, alright, 47 00:02:42,080 --> 00:02:46,320 Speaker 2: I'll sit down. My favorite question as always, let's dive 48 00:02:46,400 --> 00:02:48,880 Speaker 2: straight into it, money diarist, Can you tell me a 49 00:02:48,919 --> 00:02:51,000 Speaker 2: little bit more about your money story. 50 00:02:51,720 --> 00:02:54,920 Speaker 3: So I suppose, like everyone, my money story would go 51 00:02:55,040 --> 00:02:59,200 Speaker 3: back all the way to childhood. So I had a 52 00:02:59,200 --> 00:03:04,480 Speaker 3: pretty unconventional childhood. My biological parents they split up when 53 00:03:04,520 --> 00:03:09,040 Speaker 3: I was around four years old, and my mom remarried 54 00:03:09,639 --> 00:03:14,240 Speaker 3: at that time, and she sort of quit her career 55 00:03:14,919 --> 00:03:20,000 Speaker 3: and joined my stepdad in a property development business, which, 56 00:03:21,160 --> 00:03:24,720 Speaker 3: like many of the property development businesses out that went 57 00:03:25,000 --> 00:03:29,040 Speaker 3: pretty much barely up. Everything was in her name and 58 00:03:29,440 --> 00:03:33,680 Speaker 3: she declared bankruptcy. She had to pull money out of 59 00:03:33,760 --> 00:03:38,360 Speaker 3: super for financial hardship reasons, and we didn't really have 60 00:03:38,400 --> 00:03:41,720 Speaker 3: a stable family home. We always lived in the same area, 61 00:03:41,840 --> 00:03:44,800 Speaker 3: but we had to move around a lot four or 62 00:03:44,840 --> 00:03:48,080 Speaker 3: five times to different rentals. Then my mum had to 63 00:03:48,120 --> 00:03:51,160 Speaker 3: go back to work and she completely changed careers at 64 00:03:51,160 --> 00:03:55,520 Speaker 3: that point. And my stepdad, he's a bit unconventional. He 65 00:03:55,600 --> 00:04:00,600 Speaker 3: never really believed in an honest day's work. Since then, 66 00:04:00,640 --> 00:04:06,000 Speaker 3: has been trying to sort of make it in quotes, 67 00:04:06,400 --> 00:04:11,440 Speaker 3: in sort of like get rich quick schemes and basically 68 00:04:11,480 --> 00:04:14,440 Speaker 3: their situation hasn't really improved. My mum still doesn't really 69 00:04:14,480 --> 00:04:18,080 Speaker 3: have any assets. Her rent to this day is going 70 00:04:18,120 --> 00:04:20,200 Speaker 3: up one hundred and eighty dollars a week. So I 71 00:04:20,240 --> 00:04:23,160 Speaker 3: guess that's where my money story begins because I never 72 00:04:23,200 --> 00:04:26,200 Speaker 3: want to be in that situation. I want to create 73 00:04:26,880 --> 00:04:31,200 Speaker 3: something for the future, assets for the future, and yeah, 74 00:04:31,240 --> 00:04:33,640 Speaker 3: I never want to be left with nothing. 75 00:04:34,440 --> 00:04:38,840 Speaker 2: Oh wow, when you started to say, oh, my stepdad 76 00:04:38,920 --> 00:04:42,640 Speaker 2: and my mum started this property development company, like my 77 00:04:42,760 --> 00:04:46,520 Speaker 2: mind was going one way and it completely went the opposet. 78 00:04:46,839 --> 00:04:49,960 Speaker 2: Do you think that this narrative has really, I guess 79 00:04:50,040 --> 00:04:53,120 Speaker 2: driven you to want to be in property just because 80 00:04:53,200 --> 00:04:55,640 Speaker 2: of the stability and the security, or has it made 81 00:04:55,720 --> 00:04:58,279 Speaker 2: you want to shy away? Like what's your thoughts on property, 82 00:04:58,360 --> 00:05:00,840 Speaker 2: especially after going through that in childhood. 83 00:05:01,560 --> 00:05:05,680 Speaker 3: Yeah, so in terms of property, most of the people 84 00:05:05,720 --> 00:05:08,839 Speaker 3: I know have bought a home before I did. It 85 00:05:08,920 --> 00:05:13,440 Speaker 3: was never really my goal to get a property as 86 00:05:13,440 --> 00:05:18,479 Speaker 3: soon as possible or anything like that. But I think 87 00:05:19,320 --> 00:05:21,800 Speaker 3: there was that instability of the business that they were 88 00:05:21,839 --> 00:05:24,200 Speaker 3: in that has sort of made me a bit shy 89 00:05:24,400 --> 00:05:29,000 Speaker 3: towards debt. But there was also the fact that my 90 00:05:29,120 --> 00:05:31,880 Speaker 3: family home when I was young is just gone. That 91 00:05:32,000 --> 00:05:34,800 Speaker 3: makes me want to secure something like that, to buy 92 00:05:34,920 --> 00:05:37,200 Speaker 3: something like that so that, you know, if I ever 93 00:05:37,279 --> 00:05:39,400 Speaker 3: had a kid, I don't have to move my kid 94 00:05:39,400 --> 00:05:42,920 Speaker 3: around to lots of various rentals and suffer the consequences, 95 00:05:42,960 --> 00:05:43,120 Speaker 3: you know. 96 00:05:43,360 --> 00:05:46,839 Speaker 2: Yeah, wow, all right, let's fast forward. You now have 97 00:05:46,920 --> 00:05:49,479 Speaker 2: a partner. Can you tell me a little bit about that? 98 00:05:49,560 --> 00:05:51,800 Speaker 2: How did you meet your partner? How did you decide 99 00:05:51,839 --> 00:05:54,400 Speaker 2: property was the plan? What's going on there? 100 00:05:54,400 --> 00:05:57,760 Speaker 3: I want to know meeting my partner. So I met 101 00:05:57,760 --> 00:06:01,440 Speaker 3: my partner on a dating app, same Bay then not 102 00:06:01,480 --> 00:06:03,479 Speaker 3: the same as your one. I met my partner on 103 00:06:03,600 --> 00:06:04,480 Speaker 3: plenty of Fish. 104 00:06:04,760 --> 00:06:07,479 Speaker 2: Oh how exciting? And then did you just know you 105 00:06:07,600 --> 00:06:10,160 Speaker 2: just matched and you knew or like, what's the story? 106 00:06:10,200 --> 00:06:12,440 Speaker 2: Come on, we need the juicy gas. 107 00:06:13,080 --> 00:06:17,839 Speaker 3: So we started messaging for a few weeks on Plenty 108 00:06:17,839 --> 00:06:22,440 Speaker 3: of Fish and then we had our first date. It 109 00:06:22,480 --> 00:06:24,080 Speaker 3: wasn't the sort of date where you just want to 110 00:06:24,120 --> 00:06:26,839 Speaker 3: have dinner and then part ways and then leave and 111 00:06:26,880 --> 00:06:29,880 Speaker 3: see you next time. We wanted to, you know, keep 112 00:06:29,920 --> 00:06:32,680 Speaker 3: going for a walk. We wanted to find coffee and 113 00:06:33,360 --> 00:06:35,599 Speaker 3: all that. So it was sort of the one. 114 00:06:35,440 --> 00:06:36,799 Speaker 2: Where we stretched it out. 115 00:06:37,760 --> 00:06:41,320 Speaker 3: Yes, we stretched it out and he dropped me home. 116 00:06:41,560 --> 00:06:44,000 Speaker 3: And then I think at first he was a bit 117 00:06:44,000 --> 00:06:47,839 Speaker 3: more keen than I was, and he started meeting me 118 00:06:48,400 --> 00:06:52,520 Speaker 3: for lunches when I worked in the city, and then 119 00:06:52,600 --> 00:06:55,640 Speaker 3: it went really fast from there, basically. But we we 120 00:06:55,680 --> 00:06:58,440 Speaker 3: tried to keep it traditional, so to speak, and we 121 00:06:58,480 --> 00:07:01,120 Speaker 3: waited a whole year before moving in together. But as 122 00:07:01,120 --> 00:07:02,839 Speaker 3: soon as that one year mark crossed. 123 00:07:02,760 --> 00:07:03,680 Speaker 2: It was a free for all. 124 00:07:03,800 --> 00:07:05,880 Speaker 3: Yeah, and then you know a few years later, now 125 00:07:05,880 --> 00:07:07,120 Speaker 3: we've got the dog in the house. 126 00:07:07,200 --> 00:07:11,080 Speaker 2: So how exciting. I love this so much for you. 127 00:07:11,240 --> 00:07:13,960 Speaker 2: It's actually really really fun to hear about I guess 128 00:07:14,160 --> 00:07:16,120 Speaker 2: how people met and what's going on. And I think 129 00:07:16,120 --> 00:07:18,800 Speaker 2: it's so much more common these days to be like, oh, yeah, 130 00:07:18,800 --> 00:07:21,120 Speaker 2: I met my partner on the dating website. I mean 131 00:07:21,160 --> 00:07:23,920 Speaker 2: I met my partner years ago, and I remember at 132 00:07:23,920 --> 00:07:26,920 Speaker 2: the time being so embarrassed that I'd met him on 133 00:07:26,960 --> 00:07:29,720 Speaker 2: a dating website. Now I couldn't care less, but at 134 00:07:29,720 --> 00:07:31,400 Speaker 2: the time I remember being like, what am I going 135 00:07:31,440 --> 00:07:34,480 Speaker 2: to tell my parents that I was on a dating website? Like, oh, I. 136 00:07:34,440 --> 00:07:36,840 Speaker 3: Don't know, yeah, I mean that's the thing. I never 137 00:07:36,840 --> 00:07:40,000 Speaker 3: would have met my partner if I didn't go on 138 00:07:40,000 --> 00:07:42,280 Speaker 3: this dating website because we lived on different sides of 139 00:07:42,400 --> 00:07:44,840 Speaker 3: town at the time. We don't run in the same circle. 140 00:07:45,040 --> 00:07:47,200 Speaker 3: So yeah, it was a really good thing that we 141 00:07:47,240 --> 00:07:49,280 Speaker 3: both went on this dating app. 142 00:07:50,040 --> 00:07:52,000 Speaker 2: I love it all right, Tell me a little bit 143 00:07:52,000 --> 00:07:53,800 Speaker 2: more about you. What do you do for work and 144 00:07:53,840 --> 00:07:55,040 Speaker 2: how much money do you earn? 145 00:07:55,240 --> 00:07:59,720 Speaker 3: Yes, so I'm an accountant, a manager level, and I 146 00:07:59,760 --> 00:08:03,160 Speaker 3: worked from home full time and I earn one hundred 147 00:08:03,160 --> 00:08:05,040 Speaker 3: and nine thousand plus. 148 00:08:05,120 --> 00:08:08,280 Speaker 2: Super very nice. And what are you currently working towards? 149 00:08:08,360 --> 00:08:11,120 Speaker 2: Obviously you've already bought your one point five million dollar 150 00:08:11,240 --> 00:08:14,440 Speaker 2: dream home in your dream suburb. What's next? 151 00:08:15,440 --> 00:08:20,360 Speaker 3: So we're not married yet, we're not engaged yet either. 152 00:08:20,720 --> 00:08:25,080 Speaker 3: I think that's what I would like to come next, 153 00:08:25,200 --> 00:08:28,239 Speaker 3: and then maybe a little bit down the tracks and children, 154 00:08:28,480 --> 00:08:31,240 Speaker 3: But we as a couple, we want to sort out 155 00:08:31,280 --> 00:08:37,400 Speaker 3: our finances first. So yeah, at the moment, it's a 156 00:08:37,440 --> 00:08:41,040 Speaker 3: little bit hard to try and put aside money for 157 00:08:41,520 --> 00:08:44,280 Speaker 3: a wedding and a ring. I mean, I know the 158 00:08:44,320 --> 00:08:46,280 Speaker 3: guy is supposed to buy the ring, but in reality, 159 00:08:46,320 --> 00:08:49,000 Speaker 3: if he buys the ring, then it comes out of 160 00:08:49,000 --> 00:08:50,880 Speaker 3: our shared full of money. You know, at the end 161 00:08:50,880 --> 00:08:53,080 Speaker 3: of the day, so it's still something that both of 162 00:08:53,160 --> 00:08:55,640 Speaker 3: us have to think about. But yeah, I mean I 163 00:08:55,679 --> 00:08:59,760 Speaker 3: think like big, big term, long term goals I'd want, 164 00:09:01,120 --> 00:09:03,400 Speaker 3: you know, like the white picket fence, life with the 165 00:09:03,480 --> 00:09:06,280 Speaker 3: dog and the house and the two holidays a year, 166 00:09:06,400 --> 00:09:09,600 Speaker 3: one's overseas and all that. That's what I want. 167 00:09:09,760 --> 00:09:12,559 Speaker 2: I love that. And what is your partner's take on this? 168 00:09:12,880 --> 00:09:15,559 Speaker 2: Is he totally on board with the marriage engagement ring 169 00:09:15,640 --> 00:09:17,240 Speaker 2: side of things or is this something that you're like, 170 00:09:17,360 --> 00:09:19,400 Speaker 2: you know what, I'd really like this, But he has 171 00:09:19,440 --> 00:09:19,920 Speaker 2: no idea. 172 00:09:20,559 --> 00:09:23,839 Speaker 3: No, we talk about it all the time. We talk 173 00:09:23,880 --> 00:09:25,520 Speaker 3: about it all the time. He's on the same page. 174 00:09:25,880 --> 00:09:28,600 Speaker 2: Oh good, how exciting. All right, let's go to a 175 00:09:28,600 --> 00:09:31,280 Speaker 2: really quick break because I have heaps more questions and 176 00:09:31,280 --> 00:09:38,440 Speaker 2: we'll get to them in a hot minute. All right, money, darist, 177 00:09:38,559 --> 00:09:40,920 Speaker 2: we are back, and I want to know you've bought 178 00:09:40,960 --> 00:09:43,680 Speaker 2: a one point five million dollar property, but do you 179 00:09:43,840 --> 00:09:45,480 Speaker 2: have any investments? 180 00:09:46,000 --> 00:09:51,600 Speaker 3: I do, so, I have about fifteen thousand dollars worth 181 00:09:51,800 --> 00:10:01,240 Speaker 3: of shares and ETFs and I've got my super balance 182 00:10:01,320 --> 00:10:03,520 Speaker 3: which is currently eighty three thousand. 183 00:10:04,040 --> 00:10:05,280 Speaker 2: Ooh, very nice. 184 00:10:06,080 --> 00:10:10,960 Speaker 3: And that's really it for investments. We cleared most of 185 00:10:11,000 --> 00:10:14,760 Speaker 3: our investments to pay for the property last year. 186 00:10:15,040 --> 00:10:17,520 Speaker 2: Very very fair. Tell me a bit more about the 187 00:10:17,559 --> 00:10:19,800 Speaker 2: fifteen thousand dollars you have in shares. How did you 188 00:10:19,880 --> 00:10:22,320 Speaker 2: pick the shares and ets that you hold, and like, 189 00:10:22,360 --> 00:10:25,560 Speaker 2: what was your kind of like gateway into investing. 190 00:10:25,920 --> 00:10:32,240 Speaker 3: So my gateway into investing was probably just talking about 191 00:10:32,280 --> 00:10:35,960 Speaker 3: it a little bit. So my dad, my biological dad, 192 00:10:36,120 --> 00:10:38,600 Speaker 3: which he did move overseas when I was little, but 193 00:10:39,200 --> 00:10:41,960 Speaker 3: he came back to have a relationship with his daughters 194 00:10:41,960 --> 00:10:44,800 Speaker 3: when I was fifteen. Anyway, he has always had an 195 00:10:44,840 --> 00:10:46,920 Speaker 3: interest in the share market, so he would talk to 196 00:10:46,960 --> 00:10:50,280 Speaker 3: me about it a little bit. Obviously. With my job, 197 00:10:50,480 --> 00:10:54,160 Speaker 3: because I've worked in tax I am fortunate enough to 198 00:10:54,240 --> 00:10:58,760 Speaker 3: see what portfolios other people have. So I can see, 199 00:10:58,920 --> 00:11:03,080 Speaker 3: you know, ooh, this client has CSL that they bought 200 00:11:03,120 --> 00:11:05,280 Speaker 3: way back in the heyday. How do I do something 201 00:11:05,320 --> 00:11:08,640 Speaker 3: like that? I can see both the smart and the 202 00:11:08,760 --> 00:11:13,720 Speaker 3: not so smart on paper decisions that clients have made. 203 00:11:14,360 --> 00:11:17,280 Speaker 3: Just in my everyday job. A lot of the shares 204 00:11:17,320 --> 00:11:23,240 Speaker 3: as well, I bought during COVID during the low side, 205 00:11:23,720 --> 00:11:29,720 Speaker 3: so I picked say a bank, a retail, a tech 206 00:11:30,640 --> 00:11:33,880 Speaker 3: just trying to sort of diversify my portfolio a little bit, 207 00:11:34,600 --> 00:11:41,280 Speaker 3: plus the ETFs I have in you know, I shares 208 00:11:41,559 --> 00:11:45,840 Speaker 3: those listed ones, Yes, those ones just traditionally for me, 209 00:11:45,880 --> 00:11:50,280 Speaker 3: they've seemed pretty pretty conservative, safe. Yeah, just something you 210 00:11:50,320 --> 00:11:51,600 Speaker 3: can just buy and then leave. 211 00:11:52,040 --> 00:11:55,120 Speaker 2: Very cool. And you mentioned before that you bought some 212 00:11:55,160 --> 00:11:58,800 Speaker 2: shares during I guess the low point during COVID. Did 213 00:11:58,880 --> 00:12:03,600 Speaker 2: this contribute your house deposit? Is this something you've said before, like, oh, 214 00:12:03,600 --> 00:12:05,760 Speaker 2: we sold down some of our shares, Like, is this 215 00:12:05,840 --> 00:12:07,839 Speaker 2: what contributed to your house deposit? Or tell me how 216 00:12:07,880 --> 00:12:09,960 Speaker 2: you got to have a house deposit for a one 217 00:12:10,000 --> 00:12:11,400 Speaker 2: point five million dollar house. 218 00:12:11,600 --> 00:12:15,160 Speaker 3: So it's a combination of things. So the house purchase 219 00:12:15,240 --> 00:12:19,840 Speaker 3: was actually one point four seven five as per the contract, 220 00:12:20,200 --> 00:12:23,920 Speaker 3: but then we had to pay around sixty five thousand 221 00:12:23,960 --> 00:12:25,040 Speaker 3: of stamp duty. 222 00:12:25,000 --> 00:12:27,480 Speaker 2: Yep, ill ill, Yes, I know, ill. 223 00:12:28,320 --> 00:12:34,120 Speaker 3: But our loan was for one point two seven five, 224 00:12:35,200 --> 00:12:38,560 Speaker 3: So that leaves about two hundred and sixty five thousand 225 00:12:38,640 --> 00:12:41,120 Speaker 3: in cash that we had to cough up. 226 00:12:41,920 --> 00:12:45,120 Speaker 2: Yeah. Wow, So that. 227 00:12:45,240 --> 00:12:48,600 Speaker 3: Was funded by a combination of things. So one thing 228 00:12:48,640 --> 00:12:53,120 Speaker 3: I had is back in I think May twenty nineteen, 229 00:12:53,559 --> 00:12:58,120 Speaker 3: I started putting money into Colonial First State. I was 230 00:12:58,160 --> 00:13:02,760 Speaker 3: putting in one thousand each month pretty much up until 231 00:13:03,600 --> 00:13:08,840 Speaker 3: January twenty twenty two, and then I pulled all that 232 00:13:08,920 --> 00:13:13,679 Speaker 3: out and sold it for the house. There was also 233 00:13:14,080 --> 00:13:18,400 Speaker 3: shares that I had purchased during COVID during the low period, 234 00:13:18,880 --> 00:13:22,240 Speaker 3: so I've kept some, but I've also sold some. Plus 235 00:13:22,360 --> 00:13:27,400 Speaker 3: there is just general cash savings. So one thing we 236 00:13:27,480 --> 00:13:31,520 Speaker 3: did is we negotiated for a ninety day settlement so 237 00:13:31,600 --> 00:13:33,280 Speaker 3: that wis mark give us three. 238 00:13:33,160 --> 00:13:35,280 Speaker 2: Months to a bit more flexibility. 239 00:13:35,360 --> 00:13:39,199 Speaker 3: Yes, well to live very very cheaply and save all 240 00:13:39,240 --> 00:13:42,280 Speaker 3: the cash we could. The other thing was that my 241 00:13:42,520 --> 00:13:46,840 Speaker 3: partner also had about one hundred and twenty thousand in 242 00:13:47,880 --> 00:13:53,160 Speaker 3: Colonial first State, plus he sold some bitcoin that he 243 00:13:53,240 --> 00:13:57,360 Speaker 3: had bought back in I think twenty seventeen, twenty sixteen. 244 00:13:58,000 --> 00:14:02,880 Speaker 3: That's mainly where the cash came from. So obviously my 245 00:14:02,960 --> 00:14:09,320 Speaker 3: partner contributed more off the cash, but my borrowing capacity 246 00:14:09,880 --> 00:14:14,000 Speaker 3: accounts for most of the loan because he has already 247 00:14:14,040 --> 00:14:18,400 Speaker 3: got two properties, right, So he's got two properties, the 248 00:14:18,440 --> 00:14:21,160 Speaker 3: one that we live in currently which is owner occupied, 249 00:14:21,200 --> 00:14:25,000 Speaker 3: and then another investment property. He bought both of those. 250 00:14:25,440 --> 00:14:27,680 Speaker 2: That's a good catch. That's a good man to find 251 00:14:27,720 --> 00:14:28,640 Speaker 2: on plenty of fish. 252 00:14:28,760 --> 00:14:31,520 Speaker 3: I like that, you know, what happened is on our 253 00:14:31,560 --> 00:14:34,560 Speaker 3: first date, I asked him where are you living? Are 254 00:14:34,560 --> 00:14:37,200 Speaker 3: you renting somewhere? Because you know, that's what I was doing. 255 00:14:37,240 --> 00:14:39,560 Speaker 2: I was renting, Yeah, or do you live with your parents? 256 00:14:40,800 --> 00:14:41,640 Speaker 2: Which one is there? 257 00:14:41,680 --> 00:14:45,240 Speaker 3: And then he said, actually, I'm living in my own home. 258 00:14:46,200 --> 00:14:48,960 Speaker 2: So I was like, wow, that's sexy. Ten out of ten. 259 00:14:49,120 --> 00:14:51,640 Speaker 3: And then a few weeks later I met some of 260 00:14:51,640 --> 00:14:54,560 Speaker 3: his friends and then it just sort of popped up 261 00:14:54,920 --> 00:14:58,600 Speaker 3: that he owned another property and I was thinking, what, 262 00:14:58,960 --> 00:15:01,560 Speaker 3: how do you own two and I don't own any? 263 00:15:01,720 --> 00:15:07,560 Speaker 2: Yeah, the pressure is real. Yes, that's actually really cool 264 00:15:07,600 --> 00:15:11,960 Speaker 2: though that he was so financially stable when starting to date, 265 00:15:12,040 --> 00:15:13,560 Speaker 2: because I feel like that's not common. 266 00:15:13,960 --> 00:15:18,800 Speaker 3: It's not common. But his stad is a financial planner. 267 00:15:19,520 --> 00:15:20,520 Speaker 2: Oh what a Janiet. 268 00:15:20,920 --> 00:15:24,800 Speaker 3: He didn't grow up with very much either. 269 00:15:25,000 --> 00:15:28,120 Speaker 2: Yeah, okay, so it's just a really big priority to him. 270 00:15:28,200 --> 00:15:31,160 Speaker 3: Yes, he has that, you know that money motivation, you. 271 00:15:31,080 --> 00:15:34,560 Speaker 2: Know, absolutely, So talk to me about The next question 272 00:15:34,600 --> 00:15:36,960 Speaker 2: I want to ask is really about debt. So you've 273 00:15:36,960 --> 00:15:39,840 Speaker 2: taken on a one point two seven five million dollar loan. 274 00:15:40,840 --> 00:15:44,000 Speaker 2: How does that play into your cash flow? And with 275 00:15:44,160 --> 00:15:47,440 Speaker 2: current interest rates, how are you feeling about that? Especially 276 00:15:47,480 --> 00:15:48,920 Speaker 2: because you're about to move into it. 277 00:15:49,480 --> 00:15:54,320 Speaker 3: Yes, So what we did is we got our loan 278 00:15:54,360 --> 00:15:57,080 Speaker 3: for the house, and it was at a quite a 279 00:15:57,120 --> 00:16:03,000 Speaker 3: low interest rate, and we fixed it for twelve months. 280 00:16:03,800 --> 00:16:06,040 Speaker 3: So the fixed period. 281 00:16:05,760 --> 00:16:07,800 Speaker 2: Has ended, and now it's painful. 282 00:16:08,280 --> 00:16:13,880 Speaker 3: Yes. So our repayments were five thousand, six hundred and 283 00:16:14,080 --> 00:16:19,880 Speaker 3: fifteen and now they are going up to seven thousand, 284 00:16:19,960 --> 00:16:21,360 Speaker 3: six hundred and eighty six. 285 00:16:22,000 --> 00:16:25,080 Speaker 2: Wowe. And how is that going to work into the 286 00:16:25,120 --> 00:16:26,800 Speaker 2: cash flow system each month? 287 00:16:27,520 --> 00:16:33,840 Speaker 3: So, because we rented it for the first you know, 288 00:16:34,720 --> 00:16:37,760 Speaker 3: I think it's twelve to fifteen months, we have saved 289 00:16:37,960 --> 00:16:48,200 Speaker 3: a buffer. So we have about sixty thousand in cash 290 00:16:48,240 --> 00:16:54,080 Speaker 3: now so that we can cover the difference, the two 291 00:16:54,120 --> 00:17:03,520 Speaker 3: thousand dollars difference each month. And I am also sort 292 00:17:03,560 --> 00:17:08,280 Speaker 3: of hoping for or banking on a salary increase this month. 293 00:17:08,320 --> 00:17:12,560 Speaker 3: It does normally happen in August, it should be the 294 00:17:13,520 --> 00:17:17,360 Speaker 3: you know, the seven percent yeah, that I'm expecting. And 295 00:17:17,440 --> 00:17:23,080 Speaker 3: then what will happen is we'll move into our home 296 00:17:23,119 --> 00:17:25,200 Speaker 3: and our dream suburb, and then the home that we're 297 00:17:25,200 --> 00:17:29,439 Speaker 3: currently living in we will try and rent out. It 298 00:17:29,480 --> 00:17:33,200 Speaker 3: won't be the same level of rent, no, of course, yeap, 299 00:17:33,320 --> 00:17:36,399 Speaker 3: just because we're moving into a better area, but it'll 300 00:17:36,400 --> 00:17:37,000 Speaker 3: still help. 301 00:17:37,400 --> 00:17:41,600 Speaker 2: Yeah. Absolutely. I'm feeling like you guys are so financially 302 00:17:41,680 --> 00:17:43,680 Speaker 2: literate to be like, all right, well, we had shares, 303 00:17:43,760 --> 00:17:45,560 Speaker 2: we had this, we sold this, and then we've got 304 00:17:45,560 --> 00:17:47,480 Speaker 2: some cash over here. And my partner here had two 305 00:17:47,480 --> 00:17:50,040 Speaker 2: properties and you know, we leased it out for twelve 306 00:17:50,119 --> 00:17:52,160 Speaker 2: to fifteen months and now we've got a sixty thousand 307 00:17:52,200 --> 00:17:55,879 Speaker 2: dollar cash buffer. How did you do that? Because to say, oh, 308 00:17:55,960 --> 00:17:58,600 Speaker 2: in twelve to sixteen months, we've organized a sixty thousand 309 00:17:58,640 --> 00:18:05,280 Speaker 2: dollar cash buffer our money was it? No, I'm not 310 00:18:05,880 --> 00:18:08,440 Speaker 2: because that's so much money, so. 311 00:18:09,240 --> 00:18:13,119 Speaker 3: I should discloser. Our rent was nine hundred a week, 312 00:18:13,200 --> 00:18:18,840 Speaker 3: so there's that. And then we also save each month, 313 00:18:18,880 --> 00:18:22,480 Speaker 3: so I get paid monthly and I've been saving twenty 314 00:18:22,640 --> 00:18:23,600 Speaker 3: five hundred a month. 315 00:18:23,760 --> 00:18:24,520 Speaker 2: How good is that? 316 00:18:25,240 --> 00:18:27,400 Speaker 3: Yeah? And then my partner's also been saving a little 317 00:18:27,440 --> 00:18:31,119 Speaker 3: bit each month. But we weren't actually looking for a 318 00:18:31,200 --> 00:18:34,960 Speaker 3: house to buy until just by chance, my partner saw 319 00:18:35,000 --> 00:18:39,159 Speaker 3: that there was a property for sale in one of 320 00:18:39,200 --> 00:18:40,720 Speaker 3: the streets that I used to live in that was 321 00:18:40,720 --> 00:18:44,080 Speaker 3: a very good suburb. I love it, and I think 322 00:18:44,119 --> 00:18:47,320 Speaker 3: it was on sale for maybe one point three five, 323 00:18:48,280 --> 00:18:52,040 Speaker 3: and he looked at it and just conched the numbers 324 00:18:52,040 --> 00:18:55,760 Speaker 3: one day and said, you know, if we rented it, 325 00:18:56,160 --> 00:18:58,159 Speaker 3: we could afford a place like that and then we 326 00:18:58,200 --> 00:19:03,280 Speaker 3: could eventually move in. So that's pretty much where it started. 327 00:19:03,480 --> 00:19:06,719 Speaker 2: Ah exciting. And then where did you purchase close to 328 00:19:06,720 --> 00:19:09,400 Speaker 2: where you used to live and where you grew up? 329 00:19:09,480 --> 00:19:13,600 Speaker 3: So we didn't actually purchase in that area. So the 330 00:19:13,640 --> 00:19:16,600 Speaker 3: area that I'm talking about was when I first moved 331 00:19:16,600 --> 00:19:19,560 Speaker 3: out of home. I moved into a suburb in Brisbane 332 00:19:19,600 --> 00:19:22,359 Speaker 3: that's quite in city. Yeah, and that's where he saw 333 00:19:22,480 --> 00:19:24,840 Speaker 3: the other house that was for sale, But we were 334 00:19:24,960 --> 00:19:28,439 Speaker 3: priced out of there very quickly. The market moved so 335 00:19:28,520 --> 00:19:31,920 Speaker 3: quickly at that time, and you know, houses that could 336 00:19:31,960 --> 00:19:33,720 Speaker 3: have been like one point four we're going for like 337 00:19:33,760 --> 00:19:36,960 Speaker 3: one point seven and so crazy. We had a look 338 00:19:37,280 --> 00:19:41,359 Speaker 3: at another inner city suburb that looks and has like 339 00:19:41,400 --> 00:19:43,879 Speaker 3: a great sort of neighborhood feel, but it's still in 340 00:19:43,920 --> 00:19:45,960 Speaker 3: a city, and that's where we bought in the end. 341 00:19:46,280 --> 00:19:48,720 Speaker 2: Yeah wow, all right, Well tell me about how you 342 00:19:48,760 --> 00:19:52,199 Speaker 2: purchased your property. Was it off market? Were you just 343 00:19:52,359 --> 00:19:54,960 Speaker 2: straight sale? Did you purchase it at an option? 344 00:19:55,440 --> 00:19:55,520 Speaker 3: Like? 345 00:19:55,680 --> 00:19:58,119 Speaker 2: Was it most stressful thing in the entire world or 346 00:19:58,160 --> 00:20:00,360 Speaker 2: was it super easy? Like I want to know more 347 00:20:00,400 --> 00:20:02,960 Speaker 2: about that, because if you're going to spend one point 348 00:20:03,040 --> 00:20:06,359 Speaker 2: five million dollars, like I feel like you're already nervous. 349 00:20:06,800 --> 00:20:10,320 Speaker 3: Yep, you're right about that. So we were looking for 350 00:20:10,440 --> 00:20:15,040 Speaker 3: houses that we're in a good area that we could rent. 351 00:20:15,320 --> 00:20:18,679 Speaker 3: So that means we couldn't buy some bomb in a 352 00:20:18,680 --> 00:20:21,159 Speaker 3: good area because then we'd have to spend money fixing 353 00:20:21,200 --> 00:20:23,639 Speaker 3: it up, which we don't have the cash for. So 354 00:20:24,320 --> 00:20:27,560 Speaker 3: I did see this property one day and I saw 355 00:20:28,600 --> 00:20:32,399 Speaker 3: it was listed, and then a couple of days after 356 00:20:32,520 --> 00:20:35,480 Speaker 3: there was going to be the first open home. It 357 00:20:35,520 --> 00:20:38,080 Speaker 3: was like a champagne viewing something like that. 358 00:20:38,080 --> 00:20:41,280 Speaker 2: That's so fancy. Yeah, it sounds fancy, right, it sounds 359 00:20:41,320 --> 00:20:43,600 Speaker 2: so fancy. They're like, can we have all your money? 360 00:20:44,720 --> 00:20:49,720 Speaker 3: And so it's a three bedroom, two bathroom, and two 361 00:20:49,760 --> 00:20:53,200 Speaker 3: garage or two castpays. Sorry. It was after work one 362 00:20:53,280 --> 00:20:57,800 Speaker 3: day and I told my partner to go to the 363 00:20:57,840 --> 00:21:00,680 Speaker 3: open home just have a look. It looks like it's 364 00:21:00,680 --> 00:21:02,600 Speaker 3: out of our price range, but just have a look. 365 00:21:03,600 --> 00:21:07,160 Speaker 3: And he had a look, showed up to the champagne 366 00:21:07,200 --> 00:21:09,760 Speaker 3: viewing with his sneakers and his you know, very old 367 00:21:09,800 --> 00:21:13,200 Speaker 3: white T shirt, and then he came home and he said, 368 00:21:13,400 --> 00:21:17,680 Speaker 3: it's perfect. It's exactly what we're looking for. And so 369 00:21:18,200 --> 00:21:24,080 Speaker 3: we called the agent that night and made a verbal 370 00:21:25,119 --> 00:21:28,840 Speaker 3: offer for a little bit under the one point four 371 00:21:28,960 --> 00:21:31,920 Speaker 3: seven five. I think we offered one point four to five, 372 00:21:32,840 --> 00:21:35,919 Speaker 3: and then the agent said, look, I'll talk to the 373 00:21:35,960 --> 00:21:38,160 Speaker 3: sellers and then i'll give you a call first thing 374 00:21:38,359 --> 00:21:38,919 Speaker 3: in the morning. 375 00:21:39,040 --> 00:21:40,840 Speaker 2: And so you didn't sleep at all that night. 376 00:21:41,320 --> 00:21:44,440 Speaker 3: We were just crunching numbers the whole night how far 377 00:21:44,520 --> 00:21:47,959 Speaker 3: we could stretch, and one point four seven five was 378 00:21:48,040 --> 00:21:51,720 Speaker 3: our max. And so the agent called me in the 379 00:21:51,760 --> 00:21:55,800 Speaker 3: morning and that was my offer, one point four seven five. 380 00:21:56,400 --> 00:21:59,000 Speaker 3: To try and secure it, I said, we'll do a 381 00:21:59,040 --> 00:22:02,840 Speaker 3: ten percent deposit, but we need a ninety day settlement. 382 00:22:03,840 --> 00:22:07,160 Speaker 3: And then it was kind of underwhelming in a way 383 00:22:07,359 --> 00:22:11,440 Speaker 3: because a few hours later we got the docu sign 384 00:22:11,760 --> 00:22:15,440 Speaker 3: for the contract, just a docu sign like no call. 385 00:22:15,160 --> 00:22:18,240 Speaker 2: No champagne, nothing, just like sign here, babe. 386 00:22:18,080 --> 00:22:20,680 Speaker 3: Yeah, sign your babe, And so we both did sign 387 00:22:20,720 --> 00:22:23,560 Speaker 3: there and then a couple of hours later we got 388 00:22:23,880 --> 00:22:27,360 Speaker 3: completed docu sign back via. 389 00:22:27,200 --> 00:22:30,440 Speaker 2: Email and that was it. That was the wholesales process. 390 00:22:30,119 --> 00:22:33,040 Speaker 3: And then half an hour later, the agent called and said, congratulations. 391 00:22:33,040 --> 00:22:36,040 Speaker 3: You guys were super aggressive, but clearly it worked. That 392 00:22:36,160 --> 00:22:36,359 Speaker 3: was it. 393 00:22:36,440 --> 00:22:38,680 Speaker 2: Oh my gosh. And you were like, we didn't even realize, 394 00:22:38,720 --> 00:22:41,159 Speaker 2: Like you didn't call me, you didn't communicate this to me. 395 00:22:41,200 --> 00:22:43,119 Speaker 2: You just sent a DOCU sign and I thought it 396 00:22:43,200 --> 00:22:45,680 Speaker 2: might have been a mistake, but I signed it anyway. 397 00:22:45,600 --> 00:22:47,240 Speaker 3: So I didn't actually see the house. 398 00:22:47,440 --> 00:22:49,520 Speaker 2: Oh my gosh. You hadn't seen it at this point. 399 00:22:49,560 --> 00:22:51,040 Speaker 2: You just had to trust your partner. 400 00:22:52,119 --> 00:22:54,120 Speaker 3: But I did go and see the house because there 401 00:22:54,200 --> 00:22:58,119 Speaker 3: was another scheduled open home the weekend following. 402 00:22:57,880 --> 00:22:59,440 Speaker 2: Even though you'd signed the contract. 403 00:22:59,640 --> 00:23:03,119 Speaker 3: Yes, so I think the agent just kept it open 404 00:23:03,240 --> 00:23:06,160 Speaker 3: as is for BioResearch opportunities. 405 00:23:06,520 --> 00:23:08,840 Speaker 2: Jeez, Louise, I would have been like, get out, this 406 00:23:08,880 --> 00:23:09,800 Speaker 2: is now my house. 407 00:23:10,280 --> 00:23:12,000 Speaker 3: Well, there was no one else there because it was 408 00:23:12,080 --> 00:23:15,320 Speaker 3: already marked as under contract. Yeah, but I showed up 409 00:23:15,320 --> 00:23:17,480 Speaker 3: and I took a friend with me, and I said, 410 00:23:17,520 --> 00:23:20,560 Speaker 3: this is actually my house. I just bought it. 411 00:23:20,720 --> 00:23:24,960 Speaker 2: So funny. Yeah, real estate confuses me because like I 412 00:23:25,000 --> 00:23:27,119 Speaker 2: have no I like, if you are in the market 413 00:23:27,160 --> 00:23:29,040 Speaker 2: to buy a property, and imagine if somebody else saw 414 00:23:29,080 --> 00:23:30,920 Speaker 2: that house, like that was your dream property. I'm sure 415 00:23:30,960 --> 00:23:32,520 Speaker 2: someone else would have looked at it and been like, oh, 416 00:23:32,560 --> 00:23:36,000 Speaker 2: my gosh, that's also my dream property mugine turning up 417 00:23:36,240 --> 00:23:38,479 Speaker 2: and then being told, oh, well, this one's actually three 418 00:23:38,560 --> 00:23:40,879 Speaker 2: years old. We're just doing some research. I would have 419 00:23:40,960 --> 00:23:43,360 Speaker 2: seen off my head. I would have been so annoyed 420 00:23:43,720 --> 00:23:46,040 Speaker 2: to be like, don't waste my time, because when it 421 00:23:46,080 --> 00:23:49,720 Speaker 2: comes to property as well, like often they're only open 422 00:23:49,840 --> 00:23:52,840 Speaker 2: and like on a Saturday from like eleven to twelve, 423 00:23:52,840 --> 00:23:54,720 Speaker 2: and you've got to work out which properties you're going 424 00:23:54,760 --> 00:23:58,000 Speaker 2: to see. I would have been very salty about that situation. 425 00:23:58,600 --> 00:24:01,280 Speaker 2: But I'm so glad that you got it. That's literally 426 00:24:01,359 --> 00:24:03,760 Speaker 2: the best. I feel like that's a dreamy story, Like 427 00:24:03,800 --> 00:24:05,240 Speaker 2: that's just too easy, my friend. 428 00:24:05,920 --> 00:24:08,400 Speaker 3: I think I'm making it sound easy. 429 00:24:08,080 --> 00:24:09,760 Speaker 2: But it would have been very stressful. 430 00:24:09,880 --> 00:24:12,520 Speaker 3: In the background. There's a lot of spreadsheets, you know, 431 00:24:12,560 --> 00:24:16,080 Speaker 3: we've even to look for the house we wanted. We've 432 00:24:16,080 --> 00:24:18,520 Speaker 3: got a spreadsheet with all the different factors that we 433 00:24:18,520 --> 00:24:21,199 Speaker 3: were looking for, like does it have a wide frontage, 434 00:24:21,320 --> 00:24:24,360 Speaker 3: what are the schools? Like, how many bedrooms and bathrooms? 435 00:24:24,359 --> 00:24:24,439 Speaker 1: No? 436 00:24:24,520 --> 00:24:26,080 Speaker 2: I love that that's so smart. 437 00:24:26,200 --> 00:24:29,879 Speaker 3: Is there a dog park nearby? Is it in the 438 00:24:29,920 --> 00:24:32,159 Speaker 3: flood zone everything. 439 00:24:32,520 --> 00:24:36,639 Speaker 2: No, that's really really important, like literally so important. On 440 00:24:36,680 --> 00:24:39,480 Speaker 2: our podcast, the Property Playbook, I teach that all the time. 441 00:24:39,560 --> 00:24:43,480 Speaker 2: I'm like, document it, go and do your research, understand 442 00:24:43,640 --> 00:24:46,680 Speaker 2: what you're looking for, because I'm sure money daris that 443 00:24:46,680 --> 00:24:49,120 Speaker 2: that was why you were so easily able to say, 444 00:24:49,160 --> 00:24:50,840 Speaker 2: oh no, no, no, we'll buy this one, and you 445 00:24:50,880 --> 00:24:51,840 Speaker 2: hadn't even seen it. 446 00:24:52,600 --> 00:24:56,359 Speaker 3: So I became quite knowledgeable with just the kinds of 447 00:24:56,400 --> 00:24:59,840 Speaker 3: properties out there. I learned what a character home is, 448 00:25:00,040 --> 00:25:02,840 Speaker 3: what a pre war versus post war is, so I 449 00:25:02,880 --> 00:25:06,040 Speaker 3: knew which ones to avoid, which ones would need lots 450 00:25:06,040 --> 00:25:09,160 Speaker 3: of fix ups and counsel approvals and all that. 451 00:25:09,520 --> 00:25:12,680 Speaker 2: How good? All right, tell me a bit more about you. 452 00:25:12,760 --> 00:25:15,480 Speaker 2: I want to know what is your best money habit. 453 00:25:17,680 --> 00:25:23,760 Speaker 3: So I think my best money habit would be I 454 00:25:23,800 --> 00:25:27,320 Speaker 3: don't like to buy anything at full price. I will 455 00:25:27,359 --> 00:25:29,200 Speaker 3: always wait for the. 456 00:25:29,200 --> 00:25:31,640 Speaker 2: Sale that's fair. I like that. That's a very good 457 00:25:31,640 --> 00:25:32,200 Speaker 2: money habit. 458 00:25:32,480 --> 00:25:38,080 Speaker 3: Yes, but just on a monthly basis. What we do 459 00:25:38,440 --> 00:25:41,840 Speaker 3: is we do have our own everyday accounts and savings 460 00:25:41,840 --> 00:25:44,199 Speaker 3: accounts and things like that, but we've also got a 461 00:25:44,280 --> 00:25:49,639 Speaker 3: joint everyday account and we each tip in five hundred 462 00:25:49,680 --> 00:25:53,359 Speaker 3: and fifty dollars for the month, which we use to 463 00:25:53,480 --> 00:26:00,520 Speaker 3: spend on internet subscriptions and food. And basically, if there's 464 00:26:00,560 --> 00:26:02,480 Speaker 3: something extra that we have to pay for that month, 465 00:26:02,600 --> 00:26:05,679 Speaker 3: like a gift or something, it will come out of 466 00:26:05,680 --> 00:26:09,040 Speaker 3: that pool as well. But if we find that we 467 00:26:09,080 --> 00:26:12,000 Speaker 3: don't have enough money left over for the essentials, we 468 00:26:12,040 --> 00:26:15,640 Speaker 3: will tip more in to compensate for that extra thing. 469 00:26:16,480 --> 00:26:19,919 Speaker 3: But if we find out we've got extra cash at 470 00:26:19,920 --> 00:26:22,280 Speaker 3: the end of the month, then that's sort of like 471 00:26:22,320 --> 00:26:26,080 Speaker 3: a bonus, and we'll either decide to save it or 472 00:26:26,359 --> 00:26:27,840 Speaker 3: use it to go out for a nice dinner or 473 00:26:27,880 --> 00:26:29,240 Speaker 3: something all cute. 474 00:26:29,359 --> 00:26:31,480 Speaker 2: I like that. I feel like that means that you're 475 00:26:31,560 --> 00:26:34,320 Speaker 2: kind of sticking within budget but still living your best 476 00:26:34,359 --> 00:26:35,320 Speaker 2: life trying to. 477 00:26:35,680 --> 00:26:39,240 Speaker 3: So we do live on the cheap in some respects, 478 00:26:39,640 --> 00:26:43,840 Speaker 3: so we do place limitations on ourself, Like we might 479 00:26:43,960 --> 00:26:48,320 Speaker 3: go out for brunch on a Sunday, which is probably 480 00:26:48,320 --> 00:26:50,720 Speaker 3: one of our worst or one of my worst money habits. 481 00:26:50,760 --> 00:26:52,560 Speaker 3: I just love going out for brunch and sitting in 482 00:26:52,600 --> 00:26:55,440 Speaker 3: the sun with my dog and a coffee and whatnot. 483 00:26:56,359 --> 00:27:01,679 Speaker 3: But we limit ourselves to of thirty five dollars so 484 00:27:01,880 --> 00:27:02,440 Speaker 3: nothing more. 485 00:27:02,800 --> 00:27:05,560 Speaker 2: I like that. Does that mean you just order coffee, 486 00:27:05,600 --> 00:27:07,640 Speaker 2: because then you stay and age like you can't get 487 00:27:07,720 --> 00:27:09,280 Speaker 2: much for thirty five dollars. 488 00:27:09,680 --> 00:27:14,080 Speaker 3: No, so you can get a basic mane. Yeah, say, 489 00:27:14,320 --> 00:27:16,640 Speaker 3: eggs and sour dough. 490 00:27:16,840 --> 00:27:18,880 Speaker 2: Is this thirty five dollars each? Or is this thirty 491 00:27:18,880 --> 00:27:19,720 Speaker 2: five dollars total? 492 00:27:20,000 --> 00:27:20,840 Speaker 3: Total? 493 00:27:20,880 --> 00:27:23,680 Speaker 2: Oh my gosh, I feel like every time I'm going 494 00:27:23,720 --> 00:27:26,320 Speaker 2: for brunch and this is absolutely showing my privilege. My friend, 495 00:27:26,359 --> 00:27:29,920 Speaker 2: it's between fifty and sixty dollars easy, okay, so teach 496 00:27:29,960 --> 00:27:34,520 Speaker 2: me your ways. Two coffees might be ten bucks minimum, No. 497 00:27:34,560 --> 00:27:36,280 Speaker 3: Six dollars, six dollars each. 498 00:27:36,359 --> 00:27:38,800 Speaker 2: So oh okay, twelve dollars twelve dollars for coffee. 499 00:27:39,359 --> 00:27:43,280 Speaker 3: For coffee, plus you can get in some places you 500 00:27:43,320 --> 00:27:46,880 Speaker 3: can get a maine which is like scrambled eggs and 501 00:27:47,400 --> 00:27:50,320 Speaker 3: sour dough for like fifteen. 502 00:27:51,200 --> 00:27:53,480 Speaker 2: Okay, all right, and then you. 503 00:27:53,359 --> 00:27:56,600 Speaker 3: Can get a banana bread or almond croissan. 504 00:27:56,800 --> 00:28:00,280 Speaker 2: Oh and you share it. Yeah, oh, I love that. 505 00:28:00,280 --> 00:28:03,359 Speaker 2: That's actually quite smart. I'm probably not going to do 506 00:28:03,400 --> 00:28:06,600 Speaker 2: that because I am greedy when it clings to brunch, 507 00:28:06,720 --> 00:28:08,960 Speaker 2: and I want my own plate, and if I see 508 00:28:08,960 --> 00:28:12,719 Speaker 2: French toast on the menu, I'm not sharing that. So 509 00:28:13,119 --> 00:28:16,560 Speaker 2: you have a lot more willpower than I ever will possess. 510 00:28:16,760 --> 00:28:18,960 Speaker 2: But I think I think that's really smart because that 511 00:28:19,000 --> 00:28:21,280 Speaker 2: actually makes it so much more budget friendly. Like thirty 512 00:28:21,320 --> 00:28:24,760 Speaker 2: five dollars is soo much more palatable than fifty bucks 513 00:28:25,160 --> 00:28:26,080 Speaker 2: or sixty bucks. 514 00:28:26,400 --> 00:28:30,560 Speaker 3: So the thirty five dollars rule, I don't want to 515 00:28:30,560 --> 00:28:31,880 Speaker 3: call it a rule, but it. 516 00:28:31,800 --> 00:28:33,000 Speaker 2: Is a rule, kind of a rule. 517 00:28:33,119 --> 00:28:33,720 Speaker 3: It's kind of right. 518 00:28:33,760 --> 00:28:35,920 Speaker 2: Just call it what it is, my friend, it's anonymous. 519 00:28:36,160 --> 00:28:39,640 Speaker 3: So the thirty five dollars rule came from when we 520 00:28:39,720 --> 00:28:42,080 Speaker 3: went out for dinner one time and we only spent 521 00:28:42,600 --> 00:28:44,040 Speaker 3: thirty five dollars total. 522 00:28:44,600 --> 00:28:46,840 Speaker 2: How where are you going out for dinner? Like, I 523 00:28:46,880 --> 00:28:49,040 Speaker 2: feel like this shouldn't have been about property, it should 524 00:28:49,080 --> 00:28:50,719 Speaker 2: have been about your food hacks. 525 00:28:51,080 --> 00:28:52,440 Speaker 3: So we bought two ramens. 526 00:28:52,800 --> 00:28:53,720 Speaker 2: Yeah, okay, two. 527 00:28:53,680 --> 00:28:58,160 Speaker 3: Ramens, which are what seventeen fifty is that right? Yeah? 528 00:28:58,160 --> 00:29:00,960 Speaker 2: Maybe in Brisbane? In Melbourne they're at least twenty five 529 00:29:01,000 --> 00:29:01,640 Speaker 2: dollars each. 530 00:29:01,960 --> 00:29:04,760 Speaker 3: Now we look for things around that price, and it's 531 00:29:04,840 --> 00:29:07,120 Speaker 3: it's normally going to be Asian food. If you go 532 00:29:07,160 --> 00:29:09,600 Speaker 3: and get you know, Vietnamese fur, or you get some 533 00:29:09,840 --> 00:29:12,880 Speaker 3: Malaysian noodles or something like that, and that's how you 534 00:29:13,320 --> 00:29:15,280 Speaker 3: don't exceed that thirty five limit. 535 00:29:15,520 --> 00:29:18,120 Speaker 2: But does this become kind of fun? Because I feel like, 536 00:29:18,320 --> 00:29:20,360 Speaker 2: to you, this might not be limiting at all. It's 537 00:29:20,440 --> 00:29:22,200 Speaker 2: kind of like fun to kind of like game the 538 00:29:22,240 --> 00:29:24,600 Speaker 2: menu and work out what you're getting and how that 539 00:29:24,720 --> 00:29:26,200 Speaker 2: might work. I feel like it's fun. 540 00:29:26,320 --> 00:29:29,040 Speaker 3: It is fun. You have to go outside the CBD 541 00:29:29,080 --> 00:29:32,080 Speaker 3: to find these places, but often that's where you can 542 00:29:32,120 --> 00:29:33,800 Speaker 3: find the authentic foods as well. 543 00:29:34,080 --> 00:29:36,720 Speaker 2: Yeah, one hundred percent, And like Asian food is much 544 00:29:36,760 --> 00:29:40,800 Speaker 2: better when it's more authentic. Yes, absolutely, absolutely. Oh my gosh, 545 00:29:40,840 --> 00:29:42,880 Speaker 2: I kind of love the thirty five dollars rule. I 546 00:29:42,880 --> 00:29:45,200 Speaker 2: now need to know because like you told me that 547 00:29:45,440 --> 00:29:47,640 Speaker 2: brunch was your worst money habit, but then you told 548 00:29:47,680 --> 00:29:49,960 Speaker 2: me it was like a money hack. What is your 549 00:29:49,960 --> 00:29:50,960 Speaker 2: worst money habit? 550 00:29:51,840 --> 00:29:58,080 Speaker 3: Well, what I said before about only buying things on sale, Yeah, 551 00:29:58,240 --> 00:30:00,280 Speaker 3: sometimes I will buy something that I don't need just 552 00:30:00,320 --> 00:30:01,760 Speaker 3: because it is on sale. 553 00:30:02,000 --> 00:30:04,120 Speaker 2: Yeah, okay, So like. 554 00:30:04,040 --> 00:30:07,000 Speaker 3: The other day I bought because we're moving into our 555 00:30:07,040 --> 00:30:09,760 Speaker 3: new house, I bought a marble coffee table. 556 00:30:10,160 --> 00:30:12,440 Speaker 2: And stunning it was, but it was probably on sale. 557 00:30:12,480 --> 00:30:15,320 Speaker 2: You're basically making money by buying that marble coffee table, right, 558 00:30:16,040 --> 00:30:16,720 Speaker 2: So it was. 559 00:30:16,640 --> 00:30:18,880 Speaker 3: On sale, but we don't need it. We don't need 560 00:30:19,440 --> 00:30:24,200 Speaker 3: new furniture. We've obviously got furniture, but it was in sale, so. 561 00:30:24,280 --> 00:30:27,440 Speaker 2: Yeah, that's fair. That's fair. And a marble coffee table, 562 00:30:27,480 --> 00:30:30,440 Speaker 2: that's an investment. I'm just trying to enable you, to 563 00:30:30,440 --> 00:30:33,120 Speaker 2: make you feel better about this decision, my friend. But 564 00:30:33,240 --> 00:30:36,200 Speaker 2: I totally get that. When I moved, I was basically like, 565 00:30:36,440 --> 00:30:39,240 Speaker 2: new furniture. Absolutely. Do I already own a couch? Yes? 566 00:30:39,320 --> 00:30:42,200 Speaker 2: Do we need a new one? I think so it's 567 00:30:42,280 --> 00:30:47,120 Speaker 2: really toxic. Oh my gosh. All right, now that we've 568 00:30:47,120 --> 00:30:48,840 Speaker 2: had a good chat, I feel like I know so 569 00:30:48,960 --> 00:30:51,520 Speaker 2: much more about you, and oh my gosh, I wish 570 00:30:51,520 --> 00:30:54,440 Speaker 2: we'd learned about the money hack for Brunch earlier because 571 00:30:54,480 --> 00:30:56,760 Speaker 2: I feel like that's such a good deal. Like I'm 572 00:30:56,760 --> 00:30:58,440 Speaker 2: going to try that one day and see what we 573 00:30:58,480 --> 00:30:58,840 Speaker 2: can do. 574 00:30:59,040 --> 00:30:59,400 Speaker 3: Yeah. 575 00:30:59,440 --> 00:31:03,240 Speaker 2: Absolutely, But at the very start of this episode, you 576 00:31:03,360 --> 00:31:06,600 Speaker 2: told me that you're a B plus, and I'm just 577 00:31:06,640 --> 00:31:09,160 Speaker 2: feeling like you're pretty good at money, Like you're a 578 00:31:09,200 --> 00:31:12,640 Speaker 2: tax accountant. You've done all of this really cool stuff. 579 00:31:12,680 --> 00:31:15,800 Speaker 2: You've bought your dream home, like you've managed to save 580 00:31:15,880 --> 00:31:19,120 Speaker 2: up a sixty thousand dollar buffer, like you've got really 581 00:31:19,200 --> 00:31:22,320 Speaker 2: really good clarity around your joint account with your partner 582 00:31:22,360 --> 00:31:24,360 Speaker 2: and how much needs to go into that, like you're 583 00:31:24,360 --> 00:31:27,959 Speaker 2: even hacking brunch. Do you think that you're still a 584 00:31:27,960 --> 00:31:30,440 Speaker 2: B plus? And if you are, what's it going to 585 00:31:30,520 --> 00:31:32,000 Speaker 2: take to get to an A plus? 586 00:31:32,520 --> 00:31:34,959 Speaker 3: Look? I do still think I'm a B plus because 587 00:31:35,000 --> 00:31:38,360 Speaker 3: there is so much more that I could do, like 588 00:31:38,400 --> 00:31:39,520 Speaker 3: full starters. 589 00:31:39,160 --> 00:31:41,480 Speaker 2: Maybe not buy Marble coffee table. 590 00:31:41,520 --> 00:31:45,040 Speaker 3: Correct, Yeah, But also, was it the best decision to 591 00:31:45,080 --> 00:31:49,240 Speaker 3: sell the majority of my investments that I thought were 592 00:31:49,280 --> 00:31:53,400 Speaker 3: going to be long term investments to buy a owner 593 00:31:53,440 --> 00:31:57,480 Speaker 3: occupied property. Maybe that's not the best. I could be 594 00:31:57,600 --> 00:32:04,160 Speaker 3: doing more by starting to do the regular monthly investment 595 00:32:04,200 --> 00:32:08,320 Speaker 3: plan again, it's just probably going to be very tight 596 00:32:08,680 --> 00:32:12,720 Speaker 3: right now. I did start putting in two hundred dollars 597 00:32:13,040 --> 00:32:15,360 Speaker 3: a month, you know, it used to be a thousand. 598 00:32:15,400 --> 00:32:17,960 Speaker 3: I started putting in two hundred dollars a month. But 599 00:32:18,000 --> 00:32:20,920 Speaker 3: then obviously we came off our fixed rate, and so 600 00:32:21,000 --> 00:32:25,200 Speaker 3: I thought, maybe it's not the best idea. There's still 601 00:32:25,240 --> 00:32:28,680 Speaker 3: lots of things, lots of things that I could do 602 00:32:28,800 --> 00:32:32,960 Speaker 3: to improve. So I, yeah, I think a B plus 603 00:32:33,040 --> 00:32:33,320 Speaker 3: is fair. 604 00:32:33,840 --> 00:32:36,120 Speaker 2: All right, I'll let you have the b plus only 605 00:32:36,160 --> 00:32:38,520 Speaker 2: because I can see that you're really thinking about it. 606 00:32:38,560 --> 00:32:40,800 Speaker 2: But oh my gosh, I just think you're doing so well. 607 00:32:41,120 --> 00:32:42,640 Speaker 2: And I'm so glad that we got to share this 608 00:32:42,760 --> 00:32:44,959 Speaker 2: story with our community. Like I'm so glad that you 609 00:32:45,000 --> 00:32:47,600 Speaker 2: wrote in and you were talking about I guess taking 610 00:32:47,640 --> 00:32:50,520 Speaker 2: calculated risk and it all just it all makes sense. 611 00:32:50,800 --> 00:32:52,840 Speaker 2: And to create the life that you want to live. 612 00:32:53,080 --> 00:32:56,000 Speaker 2: Your absolutely doing that, and I'm just I'm in awe. 613 00:32:56,000 --> 00:32:59,880 Speaker 2: I think it's so cool. So one, congratulations, that's very exciting, 614 00:33:00,600 --> 00:33:03,440 Speaker 2: but true. Thank you for sharing this story with the community. 615 00:33:03,520 --> 00:33:05,240 Speaker 2: I know so many people are going to be listening 616 00:33:05,240 --> 00:33:07,760 Speaker 2: along and then come Saturday, they're all going to be 617 00:33:07,760 --> 00:33:10,160 Speaker 2: having thirty five dollar brunches, like this is a money 618 00:33:10,160 --> 00:33:11,160 Speaker 2: win for everybody. 619 00:33:11,720 --> 00:33:14,680 Speaker 3: Well, I hope some people can relate to the you know, 620 00:33:14,760 --> 00:33:18,520 Speaker 3: the property story too, because totally, yeah, just in the 621 00:33:18,560 --> 00:33:22,040 Speaker 3: news and you know, my peers and all that, I 622 00:33:22,120 --> 00:33:24,920 Speaker 3: read stories about a couple that is struggling because they're 623 00:33:24,920 --> 00:33:27,640 Speaker 3: on a similar income to us and their mortgage is 624 00:33:27,680 --> 00:33:30,480 Speaker 3: only eight hundred thousand, and that's the sort of thing 625 00:33:30,480 --> 00:33:32,960 Speaker 3: that makes me feel bad because I can't I can't 626 00:33:33,000 --> 00:33:37,120 Speaker 3: relate completely to that. But I'm also not complaining because 627 00:33:37,480 --> 00:33:39,240 Speaker 3: I chose this so no. 628 00:33:39,360 --> 00:33:41,200 Speaker 2: I love it. I love it, and I feel like 629 00:33:41,240 --> 00:33:45,280 Speaker 2: you've set yourself up to be successful regardless, like you're 630 00:33:45,440 --> 00:33:48,760 Speaker 2: really forward planning what that means to have a buffer, 631 00:33:48,880 --> 00:33:51,920 Speaker 2: Like I think it's just so intelligent. So thank you. 632 00:33:52,080 --> 00:33:53,560 Speaker 2: I feel like lots of people are going to get 633 00:33:53,600 --> 00:33:56,600 Speaker 2: lots out of this story, but unfortunately that is all 634 00:33:56,600 --> 00:33:58,960 Speaker 2: we have time for today. So I'm just super grateful 635 00:33:59,000 --> 00:34:00,280 Speaker 2: that I got to have you on the show. 636 00:34:00,440 --> 00:34:02,200 Speaker 3: Thank you, Thank you so much. Victoria. 637 00:34:08,480 --> 00:34:11,040 Speaker 4: The advice shared on She's on the Money is general 638 00:34:11,080 --> 00:34:14,919 Speaker 4: in nature and does not consider your individual circumstances. She's 639 00:34:15,000 --> 00:34:18,440 Speaker 4: on the Money exists purely for educational purposes and should 640 00:34:18,480 --> 00:34:21,640 Speaker 4: not be relied upon to make an investment or financial decision. 641 00:34:22,040 --> 00:34:24,200 Speaker 2: If you do choose to buy a financial. 642 00:34:23,840 --> 00:34:27,800 Speaker 4: Product, read the PDS TMD and obtain appropriate financial advice 643 00:34:27,880 --> 00:34:31,440 Speaker 4: tailored towards your needs. Victoria, Divine and She's on the 644 00:34:31,480 --> 00:34:36,400 Speaker 4: Money are authorized representatives of Money. Sheper pty LTD ABN 645 00:34:36,520 --> 00:34:39,279 Speaker 4: three two one is six four nine two seven seven 646 00:34:39,440 --> 00:34:47,879 Speaker 4: zero eight AFSL four five one two eight nine