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 Kernye 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 --> 00:00:17,680
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 --> 00:00:39,000
Speaker 3: She's on the Money, She's on the Money.

12
00:00:57,760 --> 00:01:01,120
Speaker 2: Hello, and you're welcome to She's on Money the Podcast

13
00:01:01,240 --> 00:01:05,399
Speaker 2: Millennials who want financial freedom. Welcome back to my favorite

14
00:01:05,440 --> 00:01:08,759
Speaker 2: episode of the entire week of Money Diaries, where I

15
00:01:08,840 --> 00:01:11,320
Speaker 2: get the absolute pleasure of talking to one of our

16
00:01:11,360 --> 00:01:14,759
Speaker 2: She's on the Money community members all about their journey.

17
00:01:15,240 --> 00:01:17,640
Speaker 2: Let's jump straight into it, because this week I got

18
00:01:17,720 --> 00:01:21,679
Speaker 2: an email and it sounded exactly like this. Hi, Victoria.

19
00:01:22,200 --> 00:01:25,360
Speaker 2: I went from major consumer debt to owning three properties

20
00:01:25,400 --> 00:01:28,039
Speaker 2: and was inspired by Victoria to follow my passion in

21
00:01:28,240 --> 00:01:31,440
Speaker 2: finance and I am now in my professional year to

22
00:01:31,520 --> 00:01:34,880
Speaker 2: become a financial advisor. I did try to post on

23
00:01:34,920 --> 00:01:37,120
Speaker 2: the Facebook page and was told I should share my

24
00:01:37,240 --> 00:01:42,479
Speaker 2: money story here. You absolutely should, my friend, congratulations, I'm

25
00:01:42,480 --> 00:01:44,800
Speaker 2: so excited. Welcome to the industry that I'm no longer

26
00:01:44,800 --> 00:01:45,200
Speaker 2: a part of.

27
00:01:45,319 --> 00:01:48,800
Speaker 4: I think, yes, now, I was a little bit disappointed

28
00:01:48,840 --> 00:01:50,200
Speaker 4: when I heard that you're moving out.

29
00:01:50,280 --> 00:01:52,600
Speaker 2: Oh sorry, I still hang around, I promise.

30
00:01:52,960 --> 00:01:55,080
Speaker 4: My game plan originally was like, if I go to

31
00:01:55,280 --> 00:01:58,520
Speaker 4: you know, forums and whatnot for advisors, that I can

32
00:01:58,600 --> 00:02:00,000
Speaker 4: run into Victoria and beat her.

33
00:02:00,120 --> 00:02:03,240
Speaker 2: Oh I go still you do okay, great? Yeah, yeah, yeah, yeah,

34
00:02:03,320 --> 00:02:06,600
Speaker 2: I'm so excited about it. It's funny because obviously I'm

35
00:02:06,600 --> 00:02:11,280
Speaker 2: no longer a licensed financial advisor and I stepped back

36
00:02:11,320 --> 00:02:14,080
Speaker 2: to focus more on that she's on the money community. Obviously,

37
00:02:14,120 --> 00:02:16,560
Speaker 2: doing one on one client work took a lot out

38
00:02:16,600 --> 00:02:19,240
Speaker 2: of me and a lot out of my day. Adored it,

39
00:02:19,400 --> 00:02:22,680
Speaker 2: but obviously loved doing community stuff. But deep down, I'm

40
00:02:22,680 --> 00:02:25,000
Speaker 2: a nerd babe, like I really want to like if

41
00:02:25,040 --> 00:02:28,560
Speaker 2: there is a forum, if there is a advisor conference

42
00:02:28,600 --> 00:02:31,200
Speaker 2: that I'm allowed into, I'm like, hey, hi, it's me.

43
00:02:31,720 --> 00:02:34,280
Speaker 2: And I've obviously got a heap of financial advisor friends,

44
00:02:34,280 --> 00:02:36,680
Speaker 2: so he usually just tag along with them. I'm like, oh,

45
00:02:36,720 --> 00:02:39,079
Speaker 2: would you look at that? I work for sky Wealth today.

46
00:02:39,720 --> 00:02:43,760
Speaker 2: Oh that's crazy. I've come along as an associate, which

47
00:02:43,800 --> 00:02:45,840
Speaker 2: is really really fun, but you will still see me

48
00:02:45,880 --> 00:02:50,640
Speaker 2: there because at heart, I really miss it. Oh that's great,

49
00:02:51,240 --> 00:02:53,600
Speaker 2: So let's learn a little bit more about you. I

50
00:02:53,639 --> 00:02:57,080
Speaker 2: am super excited about this because going from being in

51
00:02:57,160 --> 00:03:00,400
Speaker 2: consumer debt to having three houses slay, but then also

52
00:03:00,520 --> 00:03:02,799
Speaker 2: to love finance so much that you're like, you know what,

53
00:03:02,880 --> 00:03:04,720
Speaker 2: this was so fun that I wanted to help other

54
00:03:04,800 --> 00:03:08,240
Speaker 2: people do that. I'm just really excited. So let's start

55
00:03:08,240 --> 00:03:11,840
Speaker 2: the episode as I always do, Money Diarist, If I

56
00:03:12,000 --> 00:03:13,919
Speaker 2: was to ask you to give yourself a grade from

57
00:03:13,960 --> 00:03:16,360
Speaker 2: A three to F, what would you say your money

58
00:03:16,400 --> 00:03:16,920
Speaker 2: grade is?

59
00:03:17,560 --> 00:03:20,280
Speaker 4: Oh, at this point in time, I would say B

60
00:03:20,440 --> 00:03:23,440
Speaker 4: plus because I have gone a long way, but I

61
00:03:23,480 --> 00:03:25,520
Speaker 4: still have a fair way to go as well. So

62
00:03:25,919 --> 00:03:27,520
Speaker 4: I'm not where I want to be, but I'm on

63
00:03:27,560 --> 00:03:28,960
Speaker 4: the track to being where I want to be.

64
00:03:29,040 --> 00:03:32,079
Speaker 2: Yes, and please let's learn more about it, Money Diarist.

65
00:03:32,760 --> 00:03:35,600
Speaker 2: My favorite question, can you tell me a little bit

66
00:03:35,640 --> 00:03:37,200
Speaker 2: more about your money story?

67
00:03:37,520 --> 00:03:39,480
Speaker 4: So a bit of backstory is that me and my

68
00:03:39,600 --> 00:03:42,520
Speaker 4: husband had our first child, and we had just gotten married,

69
00:03:42,520 --> 00:03:44,360
Speaker 4: and we did purchase our first hope, so we did

70
00:03:44,360 --> 00:03:47,800
Speaker 4: already have that. I had just had my second in

71
00:03:48,240 --> 00:03:52,280
Speaker 4: early twenty twenty. Great when COVID hit. Oh yeah, yeah,

72
00:03:52,880 --> 00:03:55,800
Speaker 4: and we were in over thirty thousand dollars worth of

73
00:03:55,800 --> 00:03:59,160
Speaker 4: consumer debt at that point in time. We had after pay,

74
00:03:59,360 --> 00:04:03,760
Speaker 4: zip pay, credit cards, personal loans, you name it. One

75
00:04:03,840 --> 00:04:06,400
Speaker 4: night when I was up late, you know, feeding the baby,

76
00:04:06,440 --> 00:04:09,680
Speaker 4: and that I come across your podcast and I got hooked.

77
00:04:10,520 --> 00:04:13,800
Speaker 2: Hello friend, I'm a three am kind of gal, you know.

78
00:04:15,040 --> 00:04:18,160
Speaker 4: Yes, definitely, And I got absolutely hooked on it. And

79
00:04:18,640 --> 00:04:20,840
Speaker 4: because I was on maternity leave, so we only had

80
00:04:20,880 --> 00:04:24,280
Speaker 4: obviously my husband's wage and then part of the paid rental,

81
00:04:24,360 --> 00:04:27,359
Speaker 4: so it wasn't obviously too much. Yeah, we managed to

82
00:04:27,360 --> 00:04:29,560
Speaker 4: pay within that year of my maternity leave just over

83
00:04:29,680 --> 00:04:31,080
Speaker 4: thirty grand worth of consumer debt.

84
00:04:31,120 --> 00:04:36,159
Speaker 2: Oh no you didn't. Yeah, like while only only what

85
00:04:36,520 --> 00:04:39,120
Speaker 2: that is epic? I want to know a little bit more.

86
00:04:39,160 --> 00:04:41,719
Speaker 2: First thing, so how did you get into consumer debt

87
00:04:41,720 --> 00:04:44,080
Speaker 2: with things just like getting out of hand, like obviously

88
00:04:44,160 --> 00:04:46,880
Speaker 2: having two kids, getting married, buying your first house in

89
00:04:46,960 --> 00:04:48,880
Speaker 2: quick succession. I don't know if you know this is

90
00:04:48,960 --> 00:04:52,760
Speaker 2: expensive and also stressful, but how did you end up

91
00:04:52,800 --> 00:04:54,880
Speaker 2: in that debt? And then I guess tell me a

92
00:04:54,880 --> 00:04:56,680
Speaker 2: bit more about this getting out of debt thing, because

93
00:04:56,680 --> 00:04:57,440
Speaker 2: that's impressive.

94
00:04:57,880 --> 00:04:59,960
Speaker 4: So yeah, like I said, we had bought our house

95
00:05:00,080 --> 00:05:02,400
Speaker 4: and then just after we brought it up like owner occupied,

96
00:05:02,480 --> 00:05:06,040
Speaker 4: one month later, my husband proposed to me for you. Yeah.

97
00:05:06,160 --> 00:05:10,240
Speaker 4: Then from there everything we ended up getting a personal

98
00:05:10,240 --> 00:05:12,520
Speaker 4: line to finish paying out the rest of the wedding.

99
00:05:12,520 --> 00:05:14,400
Speaker 4: The wedding was part of it, and then you know,

100
00:05:14,400 --> 00:05:18,480
Speaker 4: you see all those cute little instagram and like Etsy stores,

101
00:05:18,520 --> 00:05:20,240
Speaker 4: so I bought all the wedding stuff on there and

102
00:05:20,320 --> 00:05:21,360
Speaker 4: used after pay.

103
00:05:21,400 --> 00:05:22,360
Speaker 2: It adds up pay.

104
00:05:22,839 --> 00:05:25,440
Speaker 4: Yeah, it was a lot of materialistic things. I think

105
00:05:25,480 --> 00:05:27,920
Speaker 4: going back, a lot of the consumer debt we had

106
00:05:28,000 --> 00:05:31,680
Speaker 4: were because of materialistic items. I think. The only other

107
00:05:31,800 --> 00:05:34,520
Speaker 4: consumer debt which part of the personal loan which I

108
00:05:34,560 --> 00:05:37,040
Speaker 4: try not to incorporate, is the soul panel a loone.

109
00:05:37,080 --> 00:05:40,039
Speaker 2: Yeah that's a bit different though. Hey yeah, yeah, that's

110
00:05:40,080 --> 00:05:43,800
Speaker 2: not items for a wedding, that's an investment into you

111
00:05:43,880 --> 00:05:45,919
Speaker 2: not having an electricity bill in the future.

112
00:05:46,680 --> 00:05:49,520
Speaker 4: Yes, it's been so great, and then obviously with my

113
00:05:49,720 --> 00:05:53,040
Speaker 4: impending baby coming, I decided to spend it up and

114
00:05:53,360 --> 00:05:55,240
Speaker 4: add on the zippay and the credit card, and that

115
00:05:55,800 --> 00:05:57,960
Speaker 4: it had got to the point where we were just spending, spending,

116
00:05:58,000 --> 00:05:59,760
Speaker 4: spending and not actually realizing it just.

117
00:05:59,800 --> 00:06:01,960
Speaker 2: Kind of got out of control. That is fair. But

118
00:06:02,520 --> 00:06:05,560
Speaker 2: the important question here is how on earth while you

119
00:06:05,600 --> 00:06:08,200
Speaker 2: were on maternity leave did you get out of that debt?

120
00:06:08,320 --> 00:06:11,600
Speaker 2: Because that's crazy for anyone to get out of thirty

121
00:06:11,600 --> 00:06:14,080
Speaker 2: thousand dollars worth of credit card debt in one year,

122
00:06:14,520 --> 00:06:17,400
Speaker 2: but like to do that on a single income with

123
00:06:17,600 --> 00:06:20,400
Speaker 2: paid parental leave, which we all know like is honestly

124
00:06:20,440 --> 00:06:24,000
Speaker 2: the bare minimum, it's minimum wage. How how.

125
00:06:25,200 --> 00:06:27,600
Speaker 4: So, obviously I set out a plan. I fell in

126
00:06:27,600 --> 00:06:28,640
Speaker 4: love with Excel.

127
00:06:28,360 --> 00:06:30,400
Speaker 2: Spreadsheets, woman after my own heart.

128
00:06:31,760 --> 00:06:33,640
Speaker 4: Oh, I should hear all the girls at work they

129
00:06:34,839 --> 00:06:37,000
Speaker 4: laugh about it. And then I found out, like, you know,

130
00:06:37,080 --> 00:06:39,400
Speaker 4: what was my biggest debt, what was my smallest debt,

131
00:06:39,440 --> 00:06:42,080
Speaker 4: what had the highest interest? I you know, went through

132
00:06:42,120 --> 00:06:44,359
Speaker 4: and I compared what was what what would be the

133
00:06:44,400 --> 00:06:46,719
Speaker 4: best way? So obviously I think I started with like

134
00:06:46,760 --> 00:06:49,280
Speaker 4: the after pays because they were the smallest, went onto

135
00:06:49,279 --> 00:06:51,960
Speaker 4: the set pays, and then just slowly did it From there,

136
00:06:52,320 --> 00:06:56,520
Speaker 4: you did an episode on junk insurance. Yeah, I got

137
00:06:56,520 --> 00:06:58,120
Speaker 4: on the phone, I called, and I think we ended

138
00:06:58,200 --> 00:07:01,160
Speaker 4: up getting about five or six grand and no you didn't,

139
00:07:01,560 --> 00:07:06,120
Speaker 4: yeah back, So that really helped money win. It was

140
00:07:06,160 --> 00:07:07,000
Speaker 4: a great money win.

141
00:07:07,160 --> 00:07:09,120
Speaker 2: So, well, you don't know what you don't know, right,

142
00:07:09,160 --> 00:07:11,320
Speaker 2: And the second you hear something like that, you're like, wait,

143
00:07:11,360 --> 00:07:13,880
Speaker 2: hold on, are you telling me? And then you check

144
00:07:13,920 --> 00:07:16,119
Speaker 2: and you're like, excuse me, how has this been happening

145
00:07:16,200 --> 00:07:18,400
Speaker 2: to me? And it's not because you're silly, it's just

146
00:07:18,760 --> 00:07:20,160
Speaker 2: you thought you were doing the right thing and then

147
00:07:20,200 --> 00:07:22,280
Speaker 2: it just tax on and tax on. But I'm so

148
00:07:22,440 --> 00:07:25,600
Speaker 2: glad you chased it up because you know, obviously a

149
00:07:25,640 --> 00:07:28,360
Speaker 2: lot of people don't it's worth it, though, Hey, it

150
00:07:28,480 --> 00:07:29,160
Speaker 2: definitely is.

151
00:07:29,320 --> 00:07:30,800
Speaker 4: And like I said, that's what helped us pay a

152
00:07:30,800 --> 00:07:33,240
Speaker 4: big chunk of each of the other things. And then

153
00:07:33,280 --> 00:07:35,880
Speaker 4: obviously I set out a budget. That was the biggest thing.

154
00:07:36,040 --> 00:07:38,480
Speaker 4: Was like, well, we need to know, you know what

155
00:07:38,520 --> 00:07:40,680
Speaker 4: we're doing. And it was good because we had that

156
00:07:40,840 --> 00:07:43,880
Speaker 4: year as well break from daycare, so the consent I

157
00:07:43,920 --> 00:07:46,440
Speaker 4: was on attorney leap and my first child went to kindy,

158
00:07:46,560 --> 00:07:47,440
Speaker 4: so it's.

159
00:07:47,360 --> 00:07:50,000
Speaker 2: Nice once they go to kindy. I've spoken about it before,

160
00:07:50,080 --> 00:07:53,600
Speaker 2: but I was horrified and how much daycare is going

161
00:07:53,640 --> 00:07:56,640
Speaker 2: to cost us. That is not going to be the

162
00:07:56,640 --> 00:07:58,800
Speaker 2: best season of my life, but I think it's a

163
00:07:58,840 --> 00:08:00,560
Speaker 2: necessary one working.

164
00:08:01,200 --> 00:08:04,360
Speaker 4: Yes, well, my second child finished daycare at Christmas time,

165
00:08:04,400 --> 00:08:05,760
Speaker 4: so we're in kindy and we're out.

166
00:08:05,800 --> 00:08:10,040
Speaker 2: You're out, you're out the other side. Yes, I'm so pervy,

167
00:08:10,200 --> 00:08:13,680
Speaker 2: especially about this debt reduction thing, because I've obviously been

168
00:08:13,720 --> 00:08:16,600
Speaker 2: in a very similar position. So I really empathized with

169
00:08:17,080 --> 00:08:20,640
Speaker 2: you know, how overwhelming it can be and how it

170
00:08:20,720 --> 00:08:22,320
Speaker 2: keeps you up at night and it makes you feel

171
00:08:22,320 --> 00:08:23,920
Speaker 2: sick and you just don't know what to do. But

172
00:08:24,040 --> 00:08:26,920
Speaker 2: once you start smashing it down. You said before I

173
00:08:26,960 --> 00:08:29,400
Speaker 2: started with the small debts and after pay, do you

174
00:08:29,440 --> 00:08:32,800
Speaker 2: feel like starting with the small stuff really motivated you

175
00:08:32,840 --> 00:08:35,640
Speaker 2: because you were like, wow, tick, that's gone. Next thing, Like,

176
00:08:35,720 --> 00:08:38,080
Speaker 2: do you feel like it kind of compounded over time?

177
00:08:38,240 --> 00:08:41,160
Speaker 2: How committed you were to debt reduction or like what

178
00:08:41,360 --> 00:08:43,000
Speaker 2: was the feeling along the journey?

179
00:08:43,559 --> 00:08:46,560
Speaker 4: Yes, I found you know, because the smallest ones were

180
00:08:46,559 --> 00:08:49,520
Speaker 4: like the first ones to go. That gave me my boost,

181
00:08:49,600 --> 00:08:51,760
Speaker 4: that confidence to go, I can do this, Like we've

182
00:08:51,800 --> 00:08:53,600
Speaker 4: gotten rid of the after pain, now let's get rid

183
00:08:53,640 --> 00:08:56,440
Speaker 4: of my husband's sid pay Let's just keep going, let's

184
00:08:56,520 --> 00:08:59,160
Speaker 4: do this like and I realized as I kept paying

185
00:08:59,200 --> 00:09:01,720
Speaker 4: one off, in kind of spending that money that we

186
00:09:01,920 --> 00:09:04,199
Speaker 4: used to pay it off, I would just chuck that

187
00:09:04,280 --> 00:09:06,800
Speaker 4: onto the next step. Yeah, which helped, you know, So

188
00:09:06,960 --> 00:09:09,200
Speaker 4: that money I pretended that we didn't have, which was

189
00:09:09,520 --> 00:09:12,160
Speaker 4: absolutely great, and that's what helped us well to pay

190
00:09:12,240 --> 00:09:12,640
Speaker 4: down though.

191
00:09:12,840 --> 00:09:15,840
Speaker 2: So yeah, the momentum just keeps going. And then you

192
00:09:16,000 --> 00:09:18,080
Speaker 2: I don't know when it was happening to me. I

193
00:09:18,160 --> 00:09:21,120
Speaker 2: just consistently felt lighter every time something else was gone.

194
00:09:21,160 --> 00:09:23,720
Speaker 2: I was like, yep, feeling lighter, feeling better, like this

195
00:09:23,920 --> 00:09:27,480
Speaker 2: is so good, and you kind of forget how bad

196
00:09:27,559 --> 00:09:29,920
Speaker 2: it was, and then you realize, oh my gosh, I've

197
00:09:29,960 --> 00:09:32,559
Speaker 2: created this entirely new lifestyle for myself.

198
00:09:33,000 --> 00:09:35,040
Speaker 4: Yes, I had to go back because I knew. I

199
00:09:35,080 --> 00:09:37,400
Speaker 4: posted on the Facebook page about it, So I had

200
00:09:37,400 --> 00:09:39,360
Speaker 4: to go back. And it was July twenty twenty and

201
00:09:39,559 --> 00:09:41,960
Speaker 4: reading what I had put up and how much I was,

202
00:09:42,880 --> 00:09:45,040
Speaker 4: you know, going through again and going, oh my god,

203
00:09:45,080 --> 00:09:47,080
Speaker 4: I have come this far. I can't believe it.

204
00:09:47,240 --> 00:09:49,480
Speaker 2: So gosh, I love it. I'm so proud of you

205
00:09:49,520 --> 00:09:51,400
Speaker 2: all right, I have to ask the next question because

206
00:09:51,400 --> 00:09:54,040
Speaker 2: I need to know now. Obviously you've got two kids

207
00:09:54,040 --> 00:09:57,040
Speaker 2: who have passed kindy money, we're no longer paying daycare.

208
00:09:57,080 --> 00:09:59,360
Speaker 2: But what do you do for work? How much money

209
00:09:59,360 --> 00:10:00,880
Speaker 2: do you earn currently?

210
00:10:01,040 --> 00:10:04,240
Speaker 4: I am doing a few roles. I love to just

211
00:10:04,360 --> 00:10:09,360
Speaker 4: not stop. So I am currently a mortgage broker. Oh exciting, yes,

212
00:10:09,520 --> 00:10:12,080
Speaker 4: and then I'm also completing my provisional year to become

213
00:10:12,120 --> 00:10:16,920
Speaker 4: a financial advisor or exciting yes, So I'm in the

214
00:10:17,000 --> 00:10:19,080
Speaker 4: learning phase at the moment. I still do need to

215
00:10:19,080 --> 00:10:22,160
Speaker 4: have a mentor for my mortgage broking until I think

216
00:10:22,200 --> 00:10:25,240
Speaker 4: about Easter. Yeah, and then I'll be fully accredited. So

217
00:10:25,280 --> 00:10:28,920
Speaker 4: what I earn at the moment is sixty five thousand

218
00:10:29,040 --> 00:10:32,680
Speaker 4: per year, not including super and then a small amount

219
00:10:32,679 --> 00:10:33,840
Speaker 4: of commission on the side.

220
00:10:34,080 --> 00:10:37,559
Speaker 2: Yeah. Exciting, and especially because you're in your I guess

221
00:10:37,559 --> 00:10:41,400
Speaker 2: provisional year as a broker, that's pretty good. So tell

222
00:10:41,400 --> 00:10:43,280
Speaker 2: me about the commission side of things, because I like

223
00:10:43,360 --> 00:10:46,240
Speaker 2: to be really clear when talking to people, especially broking,

224
00:10:46,240 --> 00:10:49,560
Speaker 2: because they go, isn't it dodgy to get commissioned? Absolutely not?

225
00:10:50,360 --> 00:10:53,040
Speaker 2: But how does that work in your role? Is that

226
00:10:53,559 --> 00:10:56,920
Speaker 2: per loan settled, or is that you know across the board,

227
00:10:57,000 --> 00:10:59,000
Speaker 2: like do you get a certain amount of commission based

228
00:10:59,040 --> 00:11:02,240
Speaker 2: on what the business or like how does that come about?

229
00:11:02,440 --> 00:11:05,600
Speaker 4: So the business gets paid a commission for each line

230
00:11:05,600 --> 00:11:08,160
Speaker 4: that's drawn, and then they pay me a smaller commission

231
00:11:08,200 --> 00:11:11,480
Speaker 4: on that. So at the moment, it is ten percent

232
00:11:11,679 --> 00:11:15,360
Speaker 4: of all loans and any new business that I bring

233
00:11:15,440 --> 00:11:18,360
Speaker 4: because I'm currently in a financial advisors any new business

234
00:11:18,360 --> 00:11:20,080
Speaker 4: that I bring in is an extra six percent on

235
00:11:20,120 --> 00:11:20,560
Speaker 4: top of that.

236
00:11:20,840 --> 00:11:25,080
Speaker 2: Oh that's nice, That's not bad at all. I'm going

237
00:11:25,160 --> 00:11:27,760
Speaker 2: to be really pervy. So mortgage brokers, I don't know

238
00:11:27,760 --> 00:11:29,640
Speaker 2: if you know this, guys, but actually own a mortgage

239
00:11:29,679 --> 00:11:35,040
Speaker 2: broking company called Zella Money. But do you get ten

240
00:11:35,120 --> 00:11:38,520
Speaker 2: percent of the upfront fee? So when you see a

241
00:11:38,600 --> 00:11:42,480
Speaker 2: mortgage broker, when the loan settles, the bank pays the

242
00:11:42,480 --> 00:11:45,360
Speaker 2: mortgage broker a fee, right, And that fee doesn't mean

243
00:11:45,400 --> 00:11:48,480
Speaker 2: that you're paying more to see a mortgage broker. In fact,

244
00:11:48,800 --> 00:11:51,240
Speaker 2: it's exactly the same whether you go direct or not.

245
00:11:51,280 --> 00:11:53,679
Speaker 2: You just get a whole hep more help using a broker.

246
00:11:54,520 --> 00:11:57,440
Speaker 2: They get an upfront fee, but they also get a trail.

247
00:11:57,720 --> 00:11:59,960
Speaker 2: Are you getting any trail or just upfront.

248
00:12:00,440 --> 00:12:04,280
Speaker 4: I'm getting upfront and trail. Oh, yes it is.

249
00:12:04,520 --> 00:12:06,120
Speaker 2: See, that's what I wanted to know. We do that

250
00:12:06,160 --> 00:12:08,320
Speaker 2: with our team as well, because I think it's the

251
00:12:08,440 --> 00:12:10,280
Speaker 2: fairest way to do it. Like, you didn't come this

252
00:12:10,360 --> 00:12:12,240
Speaker 2: far to only come this far. Your income should go

253
00:12:12,320 --> 00:12:14,680
Speaker 2: up each and every single year. What do you think

254
00:12:14,679 --> 00:12:17,000
Speaker 2: over the next few years your income is going to

255
00:12:17,040 --> 00:12:17,440
Speaker 2: look like?

256
00:12:18,000 --> 00:12:20,560
Speaker 4: Oh, I am hoping it is going to go up.

257
00:12:20,640 --> 00:12:24,480
Speaker 4: I know statistically when I did my training with mortgages

258
00:12:24,520 --> 00:12:29,000
Speaker 4: and that that statistically, on average mortgage brokers and one

259
00:12:29,080 --> 00:12:32,679
Speaker 4: hundred and fifty thousand per year financial advisors, I should

260
00:12:32,720 --> 00:12:35,960
Speaker 4: say are about one hundred to one hundred and thirty roughly.

261
00:12:36,000 --> 00:12:39,080
Speaker 4: It depends on obviously where you're situated where regional.

262
00:12:38,840 --> 00:12:40,280
Speaker 2: Yeah, regional is much harder.

263
00:12:40,800 --> 00:12:44,680
Speaker 4: Yeah. So I am hoping to probably hit that hundreds eventually, or.

264
00:12:44,679 --> 00:12:46,880
Speaker 2: You'll get there in no time. If your business is

265
00:12:46,920 --> 00:12:50,200
Speaker 2: giving you upfront plus comms and a really good base,

266
00:12:50,360 --> 00:12:52,480
Speaker 2: like I think you are going to be just fine.

267
00:12:52,920 --> 00:12:56,480
Speaker 2: And once the ball starts rolling straight off after you've

268
00:12:56,480 --> 00:12:58,920
Speaker 2: finish your provisional year, oh, you're going to be fine.

269
00:12:59,000 --> 00:13:00,640
Speaker 2: I say that because I live really see it in

270
00:13:00,640 --> 00:13:04,520
Speaker 2: my own business every single day. Great, I love it.

271
00:13:04,559 --> 00:13:06,160
Speaker 2: I can't wait. You have to tell me when you

272
00:13:06,200 --> 00:13:09,199
Speaker 2: crack the six figures. I want to know. Now you've

273
00:13:09,200 --> 00:13:12,080
Speaker 2: obviously gotten out of heap of debt, what is your

274
00:13:12,160 --> 00:13:15,040
Speaker 2: big money goal? What are you currently looking forward to?

275
00:13:15,520 --> 00:13:18,360
Speaker 4: Because my husband and I we obviously share everything. We

276
00:13:18,480 --> 00:13:21,319
Speaker 4: have the same mindset, which is great when it comes

277
00:13:21,360 --> 00:13:24,199
Speaker 4: to money. I'm the finance minister, as he calls it,

278
00:13:24,640 --> 00:13:27,280
Speaker 4: so I handle all that. Our next big money goal,

279
00:13:27,360 --> 00:13:30,440
Speaker 4: we do want to get to one hundred thousand in investing,

280
00:13:30,600 --> 00:13:32,000
Speaker 4: so that's our next big one.

281
00:13:32,040 --> 00:13:33,120
Speaker 2: How far away is that?

282
00:13:33,400 --> 00:13:36,280
Speaker 4: Oh, we've got a few little things in the pipeline

283
00:13:36,360 --> 00:13:39,000
Speaker 4: until we've only got about ten thousand at the moment.

284
00:13:39,200 --> 00:13:41,440
Speaker 2: So hey, that's ten percent of the way there. That's

285
00:13:41,520 --> 00:13:42,200
Speaker 2: not bad.

286
00:13:43,040 --> 00:13:45,440
Speaker 4: Yeah, So we're hoping just over the next six years

287
00:13:45,520 --> 00:13:48,079
Speaker 4: or so to do that slowly and then just leave it,

288
00:13:48,240 --> 00:13:49,680
Speaker 4: you know, let it grow, let it build.

289
00:13:49,800 --> 00:13:51,960
Speaker 2: So it's obvious you're going to be a good financial

290
00:13:51,960 --> 00:13:55,200
Speaker 2: advisor or is setting very clean, clear goals that are attainable.

291
00:13:55,480 --> 00:13:57,360
Speaker 2: Let's go to a really quick break because on the

292
00:13:57,440 --> 00:14:00,360
Speaker 2: other side, I have a lot to ask about because

293
00:14:00,440 --> 00:14:03,040
Speaker 2: in your letter, in you said, I own three houses,

294
00:14:03,400 --> 00:14:06,080
Speaker 2: and that's a flex we have not dove into yet,

295
00:14:06,120 --> 00:14:13,680
Speaker 2: So guys, don't go anywhere, all right, money darist. We

296
00:14:13,880 --> 00:14:18,520
Speaker 2: are back, and I'm assuming you don't have three primary residences.

297
00:14:18,720 --> 00:14:21,400
Speaker 2: So I'm going to need to know, my friend, do

298
00:14:21,440 --> 00:14:23,400
Speaker 2: you have any investments? If so, what are they?

299
00:14:23,880 --> 00:14:27,280
Speaker 4: Yeah, I have two investment properties and then obviously the

300
00:14:28,000 --> 00:14:30,200
Speaker 4: ten thousand shares that I have at the moment.

301
00:14:30,800 --> 00:14:33,960
Speaker 2: So tell me about how that happened, because that's pretty

302
00:14:34,000 --> 00:14:37,200
Speaker 2: big deal to have two investment properties plus your primary

303
00:14:37,200 --> 00:14:41,280
Speaker 2: residence plus ten grand in shares, Like that's wild. That

304
00:14:41,400 --> 00:14:44,320
Speaker 2: is something that a lot of people dream of. How

305
00:14:44,320 --> 00:14:47,080
Speaker 2: did you go from being in thirty thousand dollars worth

306
00:14:47,080 --> 00:14:49,880
Speaker 2: of credit card debt and consumer debt all the way

307
00:14:49,880 --> 00:14:52,880
Speaker 2: through to owning your own homes, multiple of them.

308
00:14:53,680 --> 00:14:56,640
Speaker 4: So, like I said, after I went on attorneys, I

309
00:14:56,680 --> 00:14:59,560
Speaker 4: knew I loved finance. You you know, help me see that

310
00:14:59,600 --> 00:15:02,720
Speaker 4: passion actually started at the bank because I wasn't sure

311
00:15:03,040 --> 00:15:05,280
Speaker 4: what avenue I wanted to take at that point in time,

312
00:15:05,720 --> 00:15:07,880
Speaker 4: and working at the bank doing lending and that I

313
00:15:07,960 --> 00:15:10,000
Speaker 4: kind of fell in love with that lending side a bit,

314
00:15:10,480 --> 00:15:13,280
Speaker 4: and we had you know, paid out our consumer debt.

315
00:15:13,320 --> 00:15:14,640
Speaker 4: We had a little bit of money in the bank

316
00:15:14,840 --> 00:15:18,080
Speaker 4: and originally we were actually going to do a house

317
00:15:18,080 --> 00:15:20,360
Speaker 4: of land package, so it had signed on for that

318
00:15:20,520 --> 00:15:23,880
Speaker 4: in early twenty twenty one, and then they turned around

319
00:15:23,880 --> 00:15:26,080
Speaker 4: and said to us it's going to be another two

320
00:15:26,080 --> 00:15:28,120
Speaker 4: to three year wait pretty much. So I hadn't even

321
00:15:28,160 --> 00:15:31,720
Speaker 4: been titled then, and I thought to myself, I thought, well,

322
00:15:31,760 --> 00:15:33,200
Speaker 4: what are we going to do with this money. It's

323
00:15:33,280 --> 00:15:36,840
Speaker 4: just sitting there. We should try and do something with it.

324
00:15:37,440 --> 00:15:40,280
Speaker 4: And yeah, we ended up buying a little unit. We

325
00:15:40,320 --> 00:15:42,440
Speaker 4: only paid two hundred thousand for it. That was our budget.

326
00:15:42,480 --> 00:15:44,920
Speaker 4: We didn't want to spend too much. Yeah, two hundred

327
00:15:45,000 --> 00:15:47,960
Speaker 4: thousand in regional Queensland. So it's only about a five

328
00:15:47,960 --> 00:15:51,600
Speaker 4: minute drive from us, and we have had wonderful tenants

329
00:15:51,640 --> 00:15:54,280
Speaker 4: in there. It's been amazing up until the end of

330
00:15:54,320 --> 00:15:59,040
Speaker 4: this year. And then my husband's grandparents moved from Tasmania.

331
00:15:59,720 --> 00:16:00,680
Speaker 4: Now living in that.

332
00:16:00,960 --> 00:16:05,400
Speaker 2: Oh how wholesome. I love that so much. So are

333
00:16:05,400 --> 00:16:07,960
Speaker 2: you renting it out to them or is that something

334
00:16:08,040 --> 00:16:09,000
Speaker 2: so they're paying for it?

335
00:16:09,840 --> 00:16:10,040
Speaker 1: Yes?

336
00:16:10,120 --> 00:16:10,360
Speaker 4: Yeah?

337
00:16:10,360 --> 00:16:12,800
Speaker 2: And what kind of rental yield are you getting on

338
00:16:12,840 --> 00:16:14,600
Speaker 2: a two hundred thousand dollar investment.

339
00:16:14,880 --> 00:16:17,080
Speaker 4: At this point in time, we're only charging them three

340
00:16:17,160 --> 00:16:18,200
Speaker 4: hundred dollars per week.

341
00:16:18,240 --> 00:16:21,400
Speaker 2: Hey, that's pretty good for a two hundred thousand dollar investment.

342
00:16:22,640 --> 00:16:25,720
Speaker 2: Like that's not bad at all. Like I would definitely

343
00:16:25,760 --> 00:16:28,600
Speaker 2: buy a two hundred thousand dollar apartment if I could

344
00:16:28,640 --> 00:16:31,400
Speaker 2: rent it out three hundred bucks a week, like money win.

345
00:16:31,800 --> 00:16:34,200
Speaker 2: What were you renting it out before when they weren't family?

346
00:16:34,640 --> 00:16:36,920
Speaker 4: Well, it was still three hundred, but originally the real

347
00:16:37,040 --> 00:16:39,680
Speaker 4: estate was going to increase it to about three twenty

348
00:16:39,680 --> 00:16:41,800
Speaker 4: three thirty, and we thought, oh, keep you know, we'll

349
00:16:41,880 --> 00:16:44,400
Speaker 4: leave it at three because we're already positively gear and.

350
00:16:44,360 --> 00:16:48,600
Speaker 2: That that's very sexy. I like that. Tell me what

351
00:16:48,720 --> 00:16:51,200
Speaker 2: do you owe on that property currently?

352
00:16:51,280 --> 00:16:54,920
Speaker 4: I owe about one hundred and sixty thousand on it

353
00:16:55,320 --> 00:16:57,880
Speaker 4: being at the bank. I've got lender's mortgage insurance weight.

354
00:16:58,120 --> 00:17:00,280
Speaker 2: Oh it must be nice.

355
00:17:00,920 --> 00:17:03,560
Speaker 4: Yeah, we just put the base amount ten percent. I

356
00:17:03,560 --> 00:17:05,240
Speaker 4: think it was to put towards it.

357
00:17:05,359 --> 00:17:08,800
Speaker 2: I love that, all right, But that's your first investment property. Yes,

358
00:17:08,920 --> 00:17:10,879
Speaker 2: what's the second one, my friend? And when did you

359
00:17:10,960 --> 00:17:11,520
Speaker 2: purchase that?

360
00:17:11,840 --> 00:17:16,880
Speaker 4: So that one we purchased in mid twenty twenty two,

361
00:17:17,600 --> 00:17:21,040
Speaker 4: and we purchased this up in Airly or Cannon bayo.

362
00:17:21,119 --> 00:17:23,720
Speaker 2: Very fancy area. She's a bougie goal.

363
00:17:24,640 --> 00:17:28,240
Speaker 4: Yes, because our overall plan is to because we're so

364
00:17:28,359 --> 00:17:30,240
Speaker 4: negatively geared with the first one, we wanted to go

365
00:17:30,400 --> 00:17:33,040
Speaker 4: a bit more negatively geared, you know, more so neutrally

366
00:17:33,160 --> 00:17:35,600
Speaker 4: gear it. So we purchased that one, yeah, back in

367
00:17:35,680 --> 00:17:39,160
Speaker 4: mid twenty twenty two for two hundred and thirty six thousand.

368
00:17:39,680 --> 00:17:43,240
Speaker 4: We are currently renting it at four hundred dollars per week.

369
00:17:43,520 --> 00:17:49,240
Speaker 2: Oh, very nice. So it's so interesting hearing these stories

370
00:17:49,280 --> 00:17:52,800
Speaker 2: because obviously we have these conversations in our community all

371
00:17:52,840 --> 00:17:55,560
Speaker 2: the time about property being completely unobtainable.

372
00:17:55,720 --> 00:17:55,920
Speaker 1: Right.

373
00:17:56,160 --> 00:17:58,400
Speaker 2: People are saying, I can never get into my first home.

374
00:17:58,440 --> 00:18:01,240
Speaker 2: I can never get into my first you know, investment property.

375
00:18:01,280 --> 00:18:03,920
Speaker 2: It's all too expensive because I think all of them

376
00:18:03,960 --> 00:18:07,480
Speaker 2: are looking in inner city Melbourne and Sydney and Brisbane

377
00:18:07,560 --> 00:18:11,760
Speaker 2: and you just go, world has changed, unfortunately, and as

378
00:18:11,800 --> 00:18:13,400
Speaker 2: much as we don't like it and we would love

379
00:18:13,440 --> 00:18:16,400
Speaker 2: to buy inner city, not everyone can afford a eight

380
00:18:16,480 --> 00:18:19,600
Speaker 2: hundred thousand dollar apartment and looking at it, going wow,

381
00:18:19,680 --> 00:18:22,720
Speaker 2: look at these investments. Two hundred and thirty six thousand

382
00:18:22,760 --> 00:18:25,120
Speaker 2: dollars on a property that is now paying you out

383
00:18:25,119 --> 00:18:28,360
Speaker 2: four hundred bucks a week. There are properties in Melbourne

384
00:18:28,440 --> 00:18:30,359
Speaker 2: right now that are renting for four hundred dollars a

385
00:18:30,359 --> 00:18:34,240
Speaker 2: week that I guarantee are seven or eight hundred thousand

386
00:18:34,280 --> 00:18:37,359
Speaker 2: dollars to purchase. Where did you get this knowledge to

387
00:18:37,400 --> 00:18:40,320
Speaker 2: purchase in these areas? Like, obviously you're pretty savvy at

388
00:18:40,359 --> 00:18:43,919
Speaker 2: finance nowadays, but how did you make these decisions and

389
00:18:44,000 --> 00:18:45,840
Speaker 2: know that they were right for you and your family

390
00:18:45,920 --> 00:18:47,920
Speaker 2: when it came to purchasing investment property?

391
00:18:48,440 --> 00:18:51,000
Speaker 4: Well, with the first one, we did want one and

392
00:18:51,280 --> 00:18:53,679
Speaker 4: where we were close to, just because we like the

393
00:18:53,720 --> 00:18:56,040
Speaker 4: area and we knew that even if we did move

394
00:18:56,040 --> 00:18:58,159
Speaker 4: away that we can always have that one as an investment.

395
00:18:58,600 --> 00:19:00,160
Speaker 4: I used to work as a property MANA.

396
00:19:00,480 --> 00:19:03,800
Speaker 2: So oh, you've got heats of experience that you didn't

397
00:19:03,800 --> 00:19:04,600
Speaker 2: tell us about.

398
00:19:05,320 --> 00:19:08,239
Speaker 4: Yes, so being a property manager obviously also helped in

399
00:19:08,600 --> 00:19:11,920
Speaker 4: knowing the ins and outs pretty much of that. And

400
00:19:11,960 --> 00:19:14,800
Speaker 4: then with Airly or Cannon Bale, I should say five

401
00:19:14,880 --> 00:19:17,159
Speaker 4: bit of outside Airly, but I still class it because

402
00:19:17,240 --> 00:19:20,720
Speaker 4: same same my husband and I we eventually want to

403
00:19:21,080 --> 00:19:23,000
Speaker 4: like when we have we're a bit more cash flow positive,

404
00:19:23,040 --> 00:19:26,600
Speaker 4: we want to renovate it. Eventually and then actually just

405
00:19:26,680 --> 00:19:28,520
Speaker 4: use it mainly as a holiday home or it must

406
00:19:28,600 --> 00:19:33,160
Speaker 4: be nice eventually down the track. So that is why

407
00:19:33,440 --> 00:19:35,560
Speaker 4: you know, Airly appealed to us, because you know it's

408
00:19:35,600 --> 00:19:37,919
Speaker 4: not too far from where we are, and you know

409
00:19:37,960 --> 00:19:39,960
Speaker 4: we could do weekend trips and that eventually.

410
00:19:40,080 --> 00:19:43,120
Speaker 2: And I mean, looking at that, I've obviously been really

411
00:19:43,160 --> 00:19:46,480
Speaker 2: pervy because if anything, I am a snoop And I've

412
00:19:46,520 --> 00:19:49,399
Speaker 2: just calculated your rental yield on both of your properties,

413
00:19:49,440 --> 00:19:52,440
Speaker 2: which you obviously have done before. But for those listening,

414
00:19:53,000 --> 00:19:55,480
Speaker 2: the two hundred and thirty six thousand dollars property in

415
00:19:55,560 --> 00:19:57,720
Speaker 2: early renting out at four hundred dollars a week gives

416
00:19:57,720 --> 00:20:00,720
Speaker 2: you an average rental yield of eight points to eight percent.

417
00:20:01,560 --> 00:20:04,560
Speaker 2: That's sexy. And then even though you're like, oh, we

418
00:20:04,720 --> 00:20:07,640
Speaker 2: just you know, charged the grandparents three hundred dollars a week,

419
00:20:07,760 --> 00:20:10,880
Speaker 2: like that's you know what we feel comfortable with purchase

420
00:20:10,920 --> 00:20:13,159
Speaker 2: price of two hundred grand, you're sitting at a seven

421
00:20:13,160 --> 00:20:17,000
Speaker 2: point eight two percent rental yield. Like those are numbers

422
00:20:17,080 --> 00:20:21,000
Speaker 2: that inner city Melbourne people would dream of. Because if

423
00:20:21,000 --> 00:20:22,879
Speaker 2: we flip it right, four hundred bucks a week, as

424
00:20:22,880 --> 00:20:25,200
Speaker 2: I said, that's probably gonna get you like a studio,

425
00:20:25,359 --> 00:20:29,119
Speaker 2: one bedroom apartment in like Hawthorne in Melbourne, like a

426
00:20:29,119 --> 00:20:31,400
Speaker 2: little bit further out. You're not gonna look at, you know,

427
00:20:31,560 --> 00:20:34,199
Speaker 2: anything less than that. Like, I think a lot of

428
00:20:34,200 --> 00:20:36,360
Speaker 2: people listening are gonna be like Victoria, four hundred bucks

429
00:20:36,359 --> 00:20:39,280
Speaker 2: a week is a good deal. Seven hundred and fifty

430
00:20:39,320 --> 00:20:42,840
Speaker 2: thousand dollars is about average for those areas for an apartment. Yeah,

431
00:20:42,840 --> 00:20:45,879
Speaker 2: that rental yield is two point seven eight percent. I'm

432
00:20:45,960 --> 00:20:48,840
Speaker 2: so excited that you're killing it, but also like slightly

433
00:20:48,960 --> 00:20:50,800
Speaker 2: envious that I haven't done this myself.

434
00:20:52,119 --> 00:20:52,720
Speaker 4: Oh thank you.

435
00:20:53,480 --> 00:20:56,840
Speaker 2: She's an investing queen. So what's the next steps when

436
00:20:56,880 --> 00:20:59,399
Speaker 2: it comes to property? Obviously you're pretty good at it,

437
00:20:59,440 --> 00:21:02,000
Speaker 2: You've got this grounding property management, so you feel pretty

438
00:21:02,000 --> 00:21:05,760
Speaker 2: confident in picking. You obviously have not gone beyond your

439
00:21:05,800 --> 00:21:08,840
Speaker 2: means when purchasing property. But what next? Is there more

440
00:21:08,880 --> 00:21:11,240
Speaker 2: properties on the horizon? Like where are we going? What

441
00:21:11,280 --> 00:21:11,800
Speaker 2: are we doing?

442
00:21:12,520 --> 00:21:14,159
Speaker 4: Sounds like my husband, I don't know.

443
00:21:14,240 --> 00:21:16,240
Speaker 2: Sorry, I always want to have a plan. I love

444
00:21:16,280 --> 00:21:19,840
Speaker 2: a future, I love strategy, I love getting ahead. But also,

445
00:21:19,920 --> 00:21:22,080
Speaker 2: as I said, I'm a snoop, I'm going to need

446
00:21:22,119 --> 00:21:22,480
Speaker 2: to know.

447
00:21:22,560 --> 00:21:24,760
Speaker 4: Me being a mortgage broker. I know what we can

448
00:21:24,840 --> 00:21:27,119
Speaker 4: afford to buy now, because I just like to know

449
00:21:27,200 --> 00:21:30,080
Speaker 4: that we do have, you know, available equity in our

450
00:21:30,119 --> 00:21:33,720
Speaker 4: current home or in the first investment, so we could

451
00:21:33,720 --> 00:21:38,040
Speaker 4: potentially get another investment property. My husband is looking over

452
00:21:38,080 --> 00:21:42,919
Speaker 4: at Wa and Bundery. Oh you but that's going into States,

453
00:21:43,000 --> 00:21:45,240
Speaker 4: so that's a bit more research for me to go into.

454
00:21:45,520 --> 00:21:47,160
Speaker 4: But at this point in time, we've got a bit

455
00:21:47,200 --> 00:21:49,600
Speaker 4: more in the works before I would want to probably

456
00:21:49,640 --> 00:21:50,280
Speaker 4: look into that.

457
00:21:50,480 --> 00:21:54,240
Speaker 2: So yeah, that's very very fair. I think. I think

458
00:21:54,280 --> 00:21:57,679
Speaker 2: it's really interesting when you talk to people about their investments, right,

459
00:21:57,720 --> 00:21:59,480
Speaker 2: and I know that Early is a fair bit away

460
00:21:59,480 --> 00:22:02,720
Speaker 2: from where you currently live. However, you are in Queensland,

461
00:22:02,800 --> 00:22:05,000
Speaker 2: so it kind of makes sense that you know that market,

462
00:22:05,080 --> 00:22:07,280
Speaker 2: you know what's going on there. You know, it's not

463
00:22:07,560 --> 00:22:10,280
Speaker 2: too much of a step. Whereas for someone like me

464
00:22:10,400 --> 00:22:14,840
Speaker 2: who's living in Melbourne buying in Early that fuels really scary,

465
00:22:15,160 --> 00:22:17,080
Speaker 2: like and I'm not saying that I wouldn't do it.

466
00:22:17,359 --> 00:22:19,600
Speaker 2: With the right research and the right support and all

467
00:22:19,640 --> 00:22:21,919
Speaker 2: of that, I might even consider it, but it's one

468
00:22:22,000 --> 00:22:24,320
Speaker 2: of those things that you go it makes sense that

469
00:22:24,400 --> 00:22:26,879
Speaker 2: you're buying where you know and then over time you

470
00:22:26,960 --> 00:22:29,480
Speaker 2: might spread your wings a little bit more and go, actually,

471
00:22:29,480 --> 00:22:31,920
Speaker 2: what about something here here or here? Yeah, we do

472
00:22:32,080 --> 00:22:36,480
Speaker 2: have one more, but we don't have another investment.

473
00:22:36,520 --> 00:22:41,280
Speaker 4: Sorry, sorry, one more. Watch our first investment. It's a

474
00:22:41,440 --> 00:22:44,280
Speaker 4: unit and it's next to another unit. We have said

475
00:22:44,280 --> 00:22:47,000
Speaker 4: to the people residing there they are elderly.

476
00:22:46,760 --> 00:22:48,919
Speaker 2: Oh yeah, and we have told them we'd love to

477
00:22:48,920 --> 00:22:50,960
Speaker 2: own it pretty much.

478
00:22:51,000 --> 00:22:53,000
Speaker 4: You're like, oh, hey, if you guys ever go to

479
00:22:53,200 --> 00:22:55,400
Speaker 4: a retirement home or look to sell it, come see

480
00:22:55,480 --> 00:22:57,800
Speaker 4: us first, because honestly, that's all we'd want. If we

481
00:22:57,840 --> 00:22:59,280
Speaker 4: got that third one, we'd be happy.

482
00:22:59,400 --> 00:23:02,239
Speaker 2: That's really call. And it's in a location that you know.

483
00:23:02,520 --> 00:23:05,159
Speaker 2: And obviously, let's be honest, even if you bought it

484
00:23:05,200 --> 00:23:07,600
Speaker 2: at market rates, that rental yields looking pretty good.

485
00:23:08,240 --> 00:23:10,080
Speaker 4: Definitely definitely, Oh my gosh, I love it.

486
00:23:10,119 --> 00:23:12,840
Speaker 2: All right, let's talk about debt. Obviously, we understand a

487
00:23:12,920 --> 00:23:15,800
Speaker 2: little bit about the properties that you have. Tell me

488
00:23:15,880 --> 00:23:19,040
Speaker 2: now about any debt that you have, like even on

489
00:23:19,080 --> 00:23:21,080
Speaker 2: your current property that you're living in.

490
00:23:21,280 --> 00:23:25,120
Speaker 4: So our owner occupied, we owe two hundred and thirty thousand,

491
00:23:25,280 --> 00:23:29,679
Speaker 4: and it is worth about four hundred and fifty you'rey nice, Yes,

492
00:23:29,960 --> 00:23:33,520
Speaker 4: and the first investment property. We owe one hundred and

493
00:23:33,600 --> 00:23:37,399
Speaker 4: sixty and last my check that was about two hundred

494
00:23:37,400 --> 00:23:41,879
Speaker 4: and thirty five thousand. I do a net worth every month,

495
00:23:42,000 --> 00:23:44,560
Speaker 4: So do you have a spreadsheet for your networth calculator?

496
00:23:44,800 --> 00:23:45,760
Speaker 4: I do have a spreadsheet.

497
00:23:45,840 --> 00:23:47,760
Speaker 2: I'm currently building one out for the she'es on the

498
00:23:47,760 --> 00:23:51,840
Speaker 2: money community because I'm obsessed with like tracking networth every

499
00:23:51,920 --> 00:23:55,600
Speaker 2: month and I love updating it. My teammate really excited

500
00:23:55,600 --> 00:23:57,480
Speaker 2: about that. But that's coming. I'll send you a copy.

501
00:23:57,520 --> 00:23:58,240
Speaker 2: Don't worry.

502
00:23:58,600 --> 00:23:59,520
Speaker 4: Oh, that's amazing.

503
00:23:59,600 --> 00:24:01,880
Speaker 2: It'll be very esthetic, it'll be very pretty. But it'll

504
00:24:01,920 --> 00:24:04,800
Speaker 2: be like a dashboard of keeping track of your net worth.

505
00:24:05,160 --> 00:24:07,159
Speaker 4: I'll have to transfer it all over because I think

506
00:24:07,400 --> 00:24:09,280
Speaker 4: I'm from like December twenty one.

507
00:24:09,480 --> 00:24:12,080
Speaker 2: Oh, but you've got heaps, so maybe yours is literally

508
00:24:12,119 --> 00:24:14,959
Speaker 2: perfect for you. It honestly doesn't even matter how you

509
00:24:15,000 --> 00:24:17,919
Speaker 2: do it. But if you're doing it, how motivating is it?

510
00:24:18,119 --> 00:24:18,919
Speaker 2: Where you can see it?

511
00:24:18,920 --> 00:24:19,520
Speaker 4: It's going back?

512
00:24:19,600 --> 00:24:20,760
Speaker 2: Oh, I get so excited.

513
00:24:22,440 --> 00:24:26,280
Speaker 4: Yes, sorry, back onto dead before I forget. And our

514
00:24:26,359 --> 00:24:29,840
Speaker 4: second one, it is worth about two hundred and sixty

515
00:24:29,840 --> 00:24:33,520
Speaker 4: five thousand, and we owe two hundred and forty two.

516
00:24:33,920 --> 00:24:36,720
Speaker 4: We did use the equity from our owner occupied to

517
00:24:36,920 --> 00:24:39,199
Speaker 4: buy that, So there's not really that much equity in

518
00:24:39,240 --> 00:24:41,400
Speaker 4: there at the moment, but there will be eventually.

519
00:24:41,440 --> 00:24:43,879
Speaker 2: But that makes a lot of sense though. So if

520
00:24:43,920 --> 00:24:46,280
Speaker 2: you're looking at that going, oh, what percentage of it

521
00:24:46,320 --> 00:24:49,520
Speaker 2: to your own I'd be like, oh, like not much yet.

522
00:24:50,000 --> 00:24:53,520
Speaker 2: But you've literally owned it since twenty twenty two, so

523
00:24:53,880 --> 00:24:56,840
Speaker 2: you're doing really well, like you're at the start of

524
00:24:56,880 --> 00:24:58,440
Speaker 2: the journey. I don't know if you guys know better

525
00:24:58,520 --> 00:25:01,960
Speaker 2: mortgages a thirty year can comment. I mean in Latin

526
00:25:01,960 --> 00:25:06,199
Speaker 2: mortgage literally means till death, which makes you sound a

527
00:25:06,200 --> 00:25:08,919
Speaker 2: little bit negative if you tell clients that. So as

528
00:25:09,080 --> 00:25:11,560
Speaker 2: someone who owns a mortgage breaking practice to a mortgage breaker,

529
00:25:11,640 --> 00:25:13,919
Speaker 2: probably don't explain the meaning of mortgage to them. It

530
00:25:13,920 --> 00:25:15,560
Speaker 2: gets a little bit dire. But you go, wow, you've

531
00:25:15,560 --> 00:25:19,160
Speaker 2: got thirty years to paid off. But I think it's

532
00:25:19,200 --> 00:25:22,040
Speaker 2: really interesting, especially talking to you right now, at this

533
00:25:22,160 --> 00:25:26,480
Speaker 2: point in I guess your wealth journey, you've put all

534
00:25:26,480 --> 00:25:29,879
Speaker 2: your ducks in a row, Like obviously you're making about

535
00:25:29,880 --> 00:25:33,120
Speaker 2: eight percent on both of those properties. Like that's clearly

536
00:25:33,160 --> 00:25:36,560
Speaker 2: going to pay off over time, because if you look

537
00:25:36,600 --> 00:25:38,920
Speaker 2: at the interest rates. At the moment, you're not paying

538
00:25:38,960 --> 00:25:41,240
Speaker 2: eight percent on your properties yet. So even if you

539
00:25:41,280 --> 00:25:43,600
Speaker 2: didn't lift a finger or do the renovations that you've

540
00:25:43,600 --> 00:25:46,280
Speaker 2: got planned or buy another one, like over time, they're

541
00:25:46,280 --> 00:25:48,680
Speaker 2: just going to tick away. And let's say they extinguish

542
00:25:48,720 --> 00:25:52,600
Speaker 2: themselves after twenty five years, which I would probably expect

543
00:25:52,680 --> 00:25:55,199
Speaker 2: them to. Given what you're earning and you know what

544
00:25:55,280 --> 00:25:58,399
Speaker 2: it's worth, You're then going to have what four hundred

545
00:25:58,400 --> 00:26:02,359
Speaker 2: plus three hundred dollars a week, every single week coming

546
00:26:02,359 --> 00:26:05,160
Speaker 2: in as passive income. Like that's a money win. We're

547
00:26:05,160 --> 00:26:07,640
Speaker 2: setting ourselves up for success here. I love this.

548
00:26:08,680 --> 00:26:11,080
Speaker 4: Thank you. We do have a little bit more debt,

549
00:26:11,160 --> 00:26:13,959
Speaker 4: but I will explain a bit more why we do

550
00:26:14,080 --> 00:26:17,000
Speaker 4: currently have a car loan. I know it's consumer debt,

551
00:26:17,080 --> 00:26:19,000
Speaker 4: but the reason why we did have the cash for

552
00:26:19,080 --> 00:26:22,159
Speaker 4: the car, but we decided let's put it into renovations,

553
00:26:22,560 --> 00:26:25,360
Speaker 4: which built our equity up, and that's how we purchased

554
00:26:25,359 --> 00:26:26,600
Speaker 4: the next investment property.

555
00:26:26,760 --> 00:26:29,440
Speaker 2: She's got a plan and that's what we like to see.

556
00:26:29,440 --> 00:26:31,840
Speaker 2: If you say I've got a car loan and be like, oh,

557
00:26:31,960 --> 00:26:34,760
Speaker 2: what did you buy, and then you explained to me, oh, look,

558
00:26:34,760 --> 00:26:37,720
Speaker 2: it actually financially made more sense to do ABC and D. Also,

559
00:26:37,760 --> 00:26:40,240
Speaker 2: we have two small kids, so we probably really needed

560
00:26:40,280 --> 00:26:43,680
Speaker 2: the new car to transport them around. I don't care.

561
00:26:43,920 --> 00:26:47,280
Speaker 2: I just want people to make well educated decisions. I

562
00:26:47,280 --> 00:26:49,040
Speaker 2: don't mind if you've got a car loan, as long

563
00:26:49,080 --> 00:26:52,880
Speaker 2: as you're on the track to understanding exactly why when

564
00:26:52,880 --> 00:26:56,240
Speaker 2: we're in how. What upsets me is when people are like, oh,

565
00:26:56,560 --> 00:26:59,119
Speaker 2: got a car loan at eighteen, and I just didn't

566
00:26:59,160 --> 00:27:02,119
Speaker 2: realize how if it was, or what that meant, or

567
00:27:02,119 --> 00:27:04,400
Speaker 2: that it would actually cost me four hundred dollars a week.

568
00:27:04,560 --> 00:27:08,000
Speaker 2: Like that stuff is heartbreaking when people don't have the education.

569
00:27:08,240 --> 00:27:10,680
Speaker 2: I'm sorry. You just told me about your two investment properties,

570
00:27:10,720 --> 00:27:13,040
Speaker 2: and you're building equity in your current house, and now

571
00:27:13,040 --> 00:27:15,280
Speaker 2: you've got a car loan. Do I care that much

572
00:27:15,320 --> 00:27:16,840
Speaker 2: about that? Not really.

573
00:27:18,480 --> 00:27:23,120
Speaker 4: Well, we currently owe now thirty eight thousand. We're very

574
00:27:23,119 --> 00:27:25,159
Speaker 4: far advanced, so we are on track to pay it

575
00:27:25,200 --> 00:27:26,399
Speaker 4: off by September this year.

576
00:27:26,560 --> 00:27:29,080
Speaker 2: No, you're not hold on your thirty eight thousand dollars

577
00:27:29,119 --> 00:27:31,040
Speaker 2: and you reckon you're paying it off by September.

578
00:27:31,240 --> 00:27:32,440
Speaker 4: It's got to be a push.

579
00:27:32,480 --> 00:27:33,359
Speaker 2: Who is she?

580
00:27:34,920 --> 00:27:35,080
Speaker 1: So?

581
00:27:35,280 --> 00:27:37,720
Speaker 4: My original plan was Christmas but I reckon, I can

582
00:27:37,880 --> 00:27:40,320
Speaker 4: bring it forward focus a bit more now that there's yes,

583
00:27:40,400 --> 00:27:42,440
Speaker 4: no more daycare, or that I reckon, I can smash

584
00:27:42,520 --> 00:27:44,959
Speaker 4: to September. Oh my gosh, can you please check in

585
00:27:45,040 --> 00:27:46,959
Speaker 4: and in September we can do it like where are

586
00:27:47,000 --> 00:27:47,320
Speaker 4: they now?

587
00:27:47,440 --> 00:27:50,760
Speaker 2: Episode? Because I just shook that you have the capacity

588
00:27:50,800 --> 00:27:53,720
Speaker 2: to do that. Tell me, pervy detail, what does your

589
00:27:53,800 --> 00:27:54,600
Speaker 2: husband earn?

590
00:27:55,160 --> 00:27:58,600
Speaker 4: So my husband is a truck driver. His wage goes

591
00:27:58,680 --> 00:28:00,840
Speaker 4: up a bit more like up and downs. Last year

592
00:28:00,880 --> 00:28:03,480
Speaker 4: was about one hundred and seven thousand for the year.

593
00:28:03,680 --> 00:28:08,000
Speaker 2: But that's pretty good, Like that's a solid income. But

594
00:28:08,040 --> 00:28:09,840
Speaker 2: then you look at it and go, all right, well

595
00:28:10,480 --> 00:28:13,000
Speaker 2: you did that or Matt leave like that one oh

596
00:28:13,000 --> 00:28:15,320
Speaker 2: seven plus what minimum wage, which would be about I

597
00:28:15,359 --> 00:28:20,000
Speaker 2: don't know, thirty ish max thousand a year from that

598
00:28:20,359 --> 00:28:22,800
Speaker 2: to kill it. I love it. That's your entire income

599
00:28:22,880 --> 00:28:26,360
Speaker 2: paying off a debt. I'm just I'm genuinely shook. I'm

600
00:28:26,359 --> 00:28:27,760
Speaker 2: so proud of you. That makes me want to like

601
00:28:27,840 --> 00:28:30,679
Speaker 2: hug you you through the screen. We need to know

602
00:28:30,720 --> 00:28:33,800
Speaker 2: though this stuff doesn't just happen. What is your best

603
00:28:33,840 --> 00:28:35,760
Speaker 2: money habit? What can you share with us that we

604
00:28:35,840 --> 00:28:37,359
Speaker 2: can go all right, it's the start of the year,

605
00:28:37,400 --> 00:28:39,960
Speaker 2: we're going to need some motivation and we want to

606
00:28:40,000 --> 00:28:42,160
Speaker 2: copy this money derest because she seems to have her

607
00:28:42,160 --> 00:28:42,800
Speaker 2: head screwed on.

608
00:28:43,200 --> 00:28:45,280
Speaker 4: I did actually reach out to a few friends and go,

609
00:28:45,480 --> 00:28:47,840
Speaker 4: what do you think you know? It's my best money having.

610
00:28:47,920 --> 00:28:52,160
Speaker 4: Oh I love these and they all agreed, so I'll go.

611
00:28:52,360 --> 00:28:55,120
Speaker 4: We have a big freezer in our house, like and

612
00:28:55,120 --> 00:28:58,080
Speaker 4: there's a massive chess freezer. You get charged the same

613
00:28:58,120 --> 00:29:00,880
Speaker 4: amount whether it's full or empty. So what we do

614
00:29:01,160 --> 00:29:03,920
Speaker 4: every four to six months we do massive meat shops.

615
00:29:04,240 --> 00:29:06,360
Speaker 4: We buy in bulk, so we buy from the meat works,

616
00:29:06,400 --> 00:29:08,880
Speaker 4: which is a lot cheaper, and then we cut it

617
00:29:08,920 --> 00:29:10,680
Speaker 4: all up, we cry back it, we put it in

618
00:29:10,720 --> 00:29:13,240
Speaker 4: the freezer, and then I actually do a freezer inventory,

619
00:29:13,400 --> 00:29:14,840
Speaker 4: which everyone laughs about.

620
00:29:15,000 --> 00:29:16,920
Speaker 2: I'm obsessed. How do you keep that is like on

621
00:29:17,000 --> 00:29:18,719
Speaker 2: the freezer? Is there a book on your fridge?

622
00:29:18,760 --> 00:29:18,880
Speaker 1: Like?

623
00:29:19,080 --> 00:29:19,880
Speaker 2: How do we do this?

624
00:29:20,280 --> 00:29:22,560
Speaker 4: Currently? It's in my phone at the moment. From there,

625
00:29:22,600 --> 00:29:25,400
Speaker 4: we do monthly meal plans. Because my husband's a trucked over.

626
00:29:25,480 --> 00:29:27,560
Speaker 4: It can change a bit, but it's always good because

627
00:29:28,000 --> 00:29:29,960
Speaker 4: you think about for the month. Then you know the

628
00:29:29,960 --> 00:29:31,960
Speaker 4: weekend's coming up that you've got you know, to go

629
00:29:32,040 --> 00:29:35,320
Speaker 4: out to dinner or something on and then from there

630
00:29:35,440 --> 00:29:37,840
Speaker 4: it's a big more one sorry or no, I'm loving this,

631
00:29:39,280 --> 00:29:41,640
Speaker 4: and then from there I do weekly shots. But what

632
00:29:41,720 --> 00:29:43,920
Speaker 4: I do is I shop online. I try and look

633
00:29:43,920 --> 00:29:45,760
Speaker 4: at what the specials are on Monday as soon as

634
00:29:45,760 --> 00:29:46,840
Speaker 4: I come out at five o'clock.

635
00:29:46,880 --> 00:29:48,719
Speaker 2: Now I'm obsessed with you. I have heard of this

636
00:29:48,840 --> 00:29:51,880
Speaker 2: before and the dedication Are you kidding?

637
00:29:52,160 --> 00:29:54,520
Speaker 4: And then I obviously on the Wednesday morning when all

638
00:29:54,560 --> 00:29:56,960
Speaker 4: the specials come out, I rego through if there's anything

639
00:29:57,160 --> 00:29:58,320
Speaker 4: gone on sale.

640
00:29:58,080 --> 00:30:00,000
Speaker 2: So you get both sales. She's a genist.

641
00:30:01,360 --> 00:30:03,680
Speaker 4: I do a click and collect for like a Thursday Friday,

642
00:30:03,760 --> 00:30:06,360
Speaker 4: and that will last us, yeah, through pretty much, and

643
00:30:06,520 --> 00:30:08,720
Speaker 4: you possibly on the weekend we drop in and grab

644
00:30:08,880 --> 00:30:12,840
Speaker 4: a blow for bread. But I find shopping online doing

645
00:30:12,880 --> 00:30:15,479
Speaker 4: click and collect has saved us so much money because

646
00:30:15,520 --> 00:30:17,480
Speaker 4: we don't go through the aisles and go, oh I

647
00:30:17,560 --> 00:30:19,640
Speaker 4: want this, Oh maybe this will be good. It's just

648
00:30:19,800 --> 00:30:22,040
Speaker 4: to me going, okay, this is our budget, this is

649
00:30:22,040 --> 00:30:23,960
Speaker 4: what we're going to spend, and that's it.

650
00:30:24,000 --> 00:30:27,280
Speaker 2: Oh sorry, gosh, I'm obsessed. You can't tell us all

651
00:30:27,320 --> 00:30:29,480
Speaker 2: this and not tell us what you spend though. That's

652
00:30:29,480 --> 00:30:32,920
Speaker 2: a bit rude. What do you spend on groceries?

653
00:30:33,880 --> 00:30:36,520
Speaker 4: So we aim for every week to be under two

654
00:30:36,600 --> 00:30:37,320
Speaker 4: hundred dollars.

655
00:30:37,240 --> 00:30:39,560
Speaker 2: Under two hundred dollars. And you've got two kids, yes,

656
00:30:40,280 --> 00:30:42,120
Speaker 2: oh my gosh, have you got any pets?

657
00:30:42,440 --> 00:30:43,160
Speaker 4: We have one dog?

658
00:30:43,200 --> 00:30:46,440
Speaker 2: And is that included in your weekly food truck? You've

659
00:30:46,480 --> 00:30:49,000
Speaker 2: got two kids, a dog, a truck drive, a husband,

660
00:30:49,040 --> 00:30:51,120
Speaker 2: and we all know they eat a lot yourself, and

661
00:30:51,200 --> 00:30:52,760
Speaker 2: it's less than two hundred bucks a week.

662
00:30:52,960 --> 00:30:54,400
Speaker 4: That is just no meat.

663
00:30:54,440 --> 00:30:57,320
Speaker 2: That's still crazy. You and I both know that's crazy.

664
00:30:57,880 --> 00:30:59,880
Speaker 2: Like I'm spending way more than that, and I just

665
00:31:00,080 --> 00:31:01,560
Speaker 2: have one husband.

666
00:31:02,920 --> 00:31:04,720
Speaker 4: At the moment. Maybe in a little bit when we're

667
00:31:04,720 --> 00:31:06,440
Speaker 4: a bit more cash flow positive, but at the moment,

668
00:31:06,480 --> 00:31:07,960
Speaker 4: I have a goal. This is what I want to do.

669
00:31:08,080 --> 00:31:09,120
Speaker 4: This is all we can spend.

670
00:31:10,720 --> 00:31:14,040
Speaker 2: I'm not a food prepper, so like I just I

671
00:31:14,120 --> 00:31:17,120
Speaker 2: don't have the mental capacity. I think it is very

672
00:31:17,160 --> 00:31:20,720
Speaker 2: adhd lead. I don't like having a meal plan where

673
00:31:20,800 --> 00:31:23,160
Speaker 2: it says on Thursday you have to have tacos because

674
00:31:23,160 --> 00:31:24,600
Speaker 2: the second I see that, I go, well, I don't

675
00:31:24,600 --> 00:31:27,040
Speaker 2: want that and I want something different. So I am

676
00:31:27,280 --> 00:31:30,200
Speaker 2: the worst when it comes to meal planning. But tell

677
00:31:30,240 --> 00:31:33,960
Speaker 2: me how you pick your I guess recipes and is

678
00:31:34,000 --> 00:31:35,800
Speaker 2: that something that you're like no, no, no, like we're

679
00:31:35,840 --> 00:31:38,840
Speaker 2: fine with it, we don't mind. Or are they more

680
00:31:38,880 --> 00:31:42,520
Speaker 2: complex like buy in bulk, you know, make curried sausages

681
00:31:42,560 --> 00:31:45,160
Speaker 2: that last six weeks? Like what kind of meals are

682
00:31:45,160 --> 00:31:45,880
Speaker 2: we making here?

683
00:31:46,560 --> 00:31:49,280
Speaker 4: I currently own a Thermo Mix, which I think is amazing.

684
00:31:49,600 --> 00:31:51,600
Speaker 4: I bought that at the start of my health Jenny

685
00:31:51,640 --> 00:31:52,120
Speaker 4: that I had.

686
00:31:52,440 --> 00:31:54,320
Speaker 2: Oh, of course you've had a good weight loss journey

687
00:31:54,320 --> 00:31:56,800
Speaker 2: as well. In addition to everything else, she's just like

688
00:31:56,880 --> 00:32:00,560
Speaker 2: this little queen glowing up her life.

689
00:32:01,080 --> 00:32:04,560
Speaker 4: Oh thank you. So from there it's all kind of

690
00:32:04,720 --> 00:32:08,600
Speaker 4: entwined because on my weight loss journey, I realized, you know,

691
00:32:08,680 --> 00:32:11,040
Speaker 4: what's in jars and everything like that. So we make

692
00:32:11,080 --> 00:32:12,720
Speaker 4: a lot of stuff from scratch. Yes, we still use

693
00:32:12,800 --> 00:32:15,400
Speaker 4: jars for certain things, but no, I go through each

694
00:32:15,480 --> 00:32:17,080
Speaker 4: day and like you know, we do a lot of

695
00:32:17,160 --> 00:32:19,480
Speaker 4: rice and passa dishes, a lot of veggies, trying to

696
00:32:19,480 --> 00:32:22,040
Speaker 4: get veggies into the kids. I am a part of

697
00:32:22,120 --> 00:32:24,960
Speaker 4: it's called the Skinny Mixes, which is Thermo Mix, but

698
00:32:25,000 --> 00:32:28,000
Speaker 4: it's healthy. So like the easy mac and cheese that

699
00:32:28,080 --> 00:32:30,680
Speaker 4: are on there has four hidden vegetables in it, and

700
00:32:30,720 --> 00:32:31,959
Speaker 4: the kids absolutely adore it.

701
00:32:32,120 --> 00:32:34,720
Speaker 2: So cool. I would adore that too.

702
00:32:35,400 --> 00:32:37,880
Speaker 4: It is really really good surprisingly, like you think, oh,

703
00:32:37,920 --> 00:32:42,280
Speaker 4: it's got sweet potato, zichini, carrot and another vegetable that

704
00:32:42,280 --> 00:32:43,680
Speaker 4: I can't think of, and you think, oh that's a

705
00:32:43,720 --> 00:32:45,720
Speaker 4: bit weird, and Mac and Jo work it is so good.

706
00:32:45,880 --> 00:32:46,360
Speaker 4: It works.

707
00:32:46,440 --> 00:32:48,080
Speaker 2: Yeah, oh how good it is that?

708
00:32:48,800 --> 00:32:51,360
Speaker 4: And I enjoy cooking as well, so I enjoy baking

709
00:32:51,480 --> 00:32:54,360
Speaker 4: and whatnot. So that's something a pastime that I enjoy.

710
00:32:54,480 --> 00:32:56,440
Speaker 2: So I love that it works for you. I wish

711
00:32:56,520 --> 00:32:58,640
Speaker 2: I could be more like that. I just know with

712
00:32:58,800 --> 00:33:03,480
Speaker 2: my habits that is so unobtainable, Like it just makes

713
00:33:03,480 --> 00:33:06,440
Speaker 2: me envious. If I'm being honest, I want to know, now,

714
00:33:06,760 --> 00:33:08,480
Speaker 2: what is your worst money habit?

715
00:33:09,000 --> 00:33:12,560
Speaker 4: It's not groceries, no, No, My worst money habit is

716
00:33:12,640 --> 00:33:15,960
Speaker 4: when I'm at work or when my husband is away,

717
00:33:16,120 --> 00:33:18,280
Speaker 4: and I'll be you know, I haven't pulled out the

718
00:33:18,560 --> 00:33:21,240
Speaker 4: food for dinner, so I know he's away. I will

719
00:33:21,440 --> 00:33:25,000
Speaker 4: do uber eats or get takeaway. So that is something

720
00:33:25,040 --> 00:33:26,920
Speaker 4: that I'm working on. I have a goal set this

721
00:33:27,000 --> 00:33:28,960
Speaker 4: year or smart goal, so I've even got a little

722
00:33:29,000 --> 00:33:31,920
Speaker 4: visual calendar that way I am going to tick off

723
00:33:31,920 --> 00:33:34,240
Speaker 4: every day at work saying I didn't bring anything to lunch,

724
00:33:34,240 --> 00:33:35,920
Speaker 4: I don't have leftovers, I'm going to have noodles. I'm

725
00:33:35,920 --> 00:33:39,400
Speaker 4: not going to get takeaway. So I went through last

726
00:33:39,480 --> 00:33:42,600
Speaker 4: year's you know statements for the year, and just seeing

727
00:33:42,600 --> 00:33:44,360
Speaker 4: how much I spent for the year, I wasn't happy

728
00:33:44,360 --> 00:33:45,560
Speaker 4: and I was like, no, I need to get this

729
00:33:45,640 --> 00:33:46,320
Speaker 4: under control.

730
00:33:46,480 --> 00:33:50,440
Speaker 2: So, yeah, is that something that you do every year,

731
00:33:50,520 --> 00:33:53,800
Speaker 2: like go through all of your annual lives spending and go, well, actually,

732
00:33:54,000 --> 00:33:56,520
Speaker 2: once I add it up, I'm not all that happy

733
00:33:56,560 --> 00:33:56,840
Speaker 2: with that.

734
00:33:57,240 --> 00:33:59,400
Speaker 4: Yes, I did it, not last year the year before

735
00:33:59,520 --> 00:34:02,040
Speaker 4: with buy alcohol. So we did do a lot of

736
00:34:02,040 --> 00:34:05,240
Speaker 4: renovations that year, so we bought a lot of trade's alcohol.

737
00:34:05,360 --> 00:34:08,360
Speaker 4: But just seeing the amount there, I was like, oh, sorry.

738
00:34:08,360 --> 00:34:10,400
Speaker 4: Then we focused last year of you know, and we

739
00:34:10,520 --> 00:34:12,919
Speaker 4: cut it down by half, I think, which is really

740
00:34:12,920 --> 00:34:13,359
Speaker 4: really good.

741
00:34:13,800 --> 00:34:17,160
Speaker 2: I love looking at things on that bigger scale. It

742
00:34:17,200 --> 00:34:19,920
Speaker 2: works really well for me because you know, here and there.

743
00:34:20,000 --> 00:34:22,160
Speaker 2: Let's be honest, I think we can all justify a

744
00:34:22,200 --> 00:34:24,560
Speaker 2: new Breats on a Friday night, Like it's so easy.

745
00:34:24,600 --> 00:34:26,520
Speaker 2: You go, oh, it was forty bucks. Like at the

746
00:34:26,600 --> 00:34:29,520
Speaker 2: end of the day, like it's fine, but when you

747
00:34:29,600 --> 00:34:32,800
Speaker 2: extrapolate that out and go, oh, actually, that habit's costing

748
00:34:32,840 --> 00:34:36,240
Speaker 2: me a lot of money, And I didn't really realize

749
00:34:36,520 --> 00:34:38,759
Speaker 2: it'd be also powerful to be able to step back

750
00:34:38,760 --> 00:34:40,560
Speaker 2: and go, no, I'm going to change that, and you

751
00:34:40,600 --> 00:34:43,960
Speaker 2: can actually see the tangible change, Like it's just it's

752
00:34:44,000 --> 00:34:46,680
Speaker 2: so helpful. So I feel like your worst money habit

753
00:34:47,120 --> 00:34:49,000
Speaker 2: is actually going to become a pretty good one because

754
00:34:49,000 --> 00:34:53,600
Speaker 2: you're so aware of it. Money Darist, I'm genuinely so impressed,

755
00:34:53,840 --> 00:34:58,040
Speaker 2: Like you have, you know, so much tenacity, but also

756
00:34:58,160 --> 00:35:01,080
Speaker 2: just such a plan to go from being in you know,

757
00:35:01,160 --> 00:35:03,880
Speaker 2: thirty plus thousand dollars worth of consumer debt to owning

758
00:35:04,120 --> 00:35:06,840
Speaker 2: three properties and talking about another one, and you know

759
00:35:06,960 --> 00:35:10,080
Speaker 2: you've gone on this massive finance journey. You're a mortgage broker,

760
00:35:10,160 --> 00:35:13,600
Speaker 2: but now you're becoming a financial advisor. And I'm just

761
00:35:13,719 --> 00:35:17,200
Speaker 2: genuinely like what the hecking? Like this woman doesn't just

762
00:35:17,239 --> 00:35:20,000
Speaker 2: have it all together financially, she's also doing like meat

763
00:35:20,040 --> 00:35:22,640
Speaker 2: shops every four to six months and really getting it,

764
00:35:22,719 --> 00:35:26,680
Speaker 2: Like who is that organized with two small children? But

765
00:35:26,719 --> 00:35:29,319
Speaker 2: then they also think they're only a B plus. So

766
00:35:29,719 --> 00:35:31,960
Speaker 2: let's have a look at this probably will have to

767
00:35:32,080 --> 00:35:35,040
Speaker 2: argue with you here. I do apologize, But do you

768
00:35:35,120 --> 00:35:37,440
Speaker 2: really think that you're still a B plus when all

769
00:35:37,440 --> 00:35:39,040
Speaker 2: of that gets laid out on the table.

770
00:35:40,239 --> 00:35:41,920
Speaker 4: I just know I still have a way to go.

771
00:35:42,120 --> 00:35:44,200
Speaker 4: Like I do understand. I know the car loan. I

772
00:35:44,239 --> 00:35:46,319
Speaker 4: think that's my biggest thing that's holding me back. Once

773
00:35:46,320 --> 00:35:50,239
Speaker 4: that's paid off, That's why I'm so aggressive, like aggressively it.

774
00:35:50,360 --> 00:35:52,560
Speaker 4: Once that's paid off, I think I'll feel a lot better.

775
00:35:52,640 --> 00:35:56,000
Speaker 4: I'll be a lot more free. Sorry, because I don't

776
00:35:56,040 --> 00:35:58,560
Speaker 4: like consumer debt, and you know the way that it worked.

777
00:35:58,600 --> 00:36:00,480
Speaker 4: It worked for us, but I'm like, just get rid

778
00:36:00,480 --> 00:36:00,839
Speaker 4: of it.

779
00:36:00,800 --> 00:36:03,880
Speaker 2: Now, fair. So what would it take to get you

780
00:36:03,920 --> 00:36:07,839
Speaker 2: to that AA plus just being consumer debt free? Or

781
00:36:08,000 --> 00:36:10,160
Speaker 2: is there anything else that you're like, No, I'd really

782
00:36:10,160 --> 00:36:12,879
Speaker 2: want to do XYZ Like I feel like so many

783
00:36:12,960 --> 00:36:15,200
Speaker 2: of us have our own ideas of what an A

784
00:36:15,200 --> 00:36:17,759
Speaker 2: actually looks like because there's no real definition, right, it's

785
00:36:17,840 --> 00:36:19,480
Speaker 2: just how we feel about it.

786
00:36:19,600 --> 00:36:21,600
Speaker 4: I think what the carline is paid off, I think

787
00:36:21,719 --> 00:36:24,480
Speaker 4: I would be happy to move to an A maybe

788
00:36:24,520 --> 00:36:25,680
Speaker 4: A minus mate.

789
00:36:25,520 --> 00:36:27,279
Speaker 2: And that's easy because you're going to smash it out

790
00:36:27,320 --> 00:36:32,520
Speaker 2: by September. How good is that all right? Money dice. Unfortunately,

791
00:36:32,760 --> 00:36:34,719
Speaker 2: that is all we have time for today. But I

792
00:36:34,760 --> 00:36:37,759
Speaker 2: have adored this. This has been such a fun conversation

793
00:36:37,920 --> 00:36:40,319
Speaker 2: but also a conversation where I'm like, what the heck

794
00:36:40,440 --> 00:36:42,840
Speaker 2: how does she do this? And it just proves you

795
00:36:42,880 --> 00:36:46,880
Speaker 2: don't have to earn millions to be a multiple property owner.

796
00:36:47,320 --> 00:36:50,440
Speaker 2: It's so exciting meeting somebody who's like, no, no, no, we

797
00:36:50,520 --> 00:36:53,000
Speaker 2: have a pretty standard income. Like you know, at some

798
00:36:53,080 --> 00:36:55,359
Speaker 2: point I love to crack six figures, and you know,

799
00:36:55,680 --> 00:36:58,439
Speaker 2: have a two hundred thousand dollar household income. But even

800
00:36:58,480 --> 00:37:02,040
Speaker 2: without that, you still have properties and they're all really

801
00:37:02,520 --> 00:37:05,760
Speaker 2: yielding well and they're working well, and over your wealth journey,

802
00:37:05,760 --> 00:37:07,600
Speaker 2: I just know you're gonna smash it. Like it just

803
00:37:07,640 --> 00:37:11,920
Speaker 2: makes me so excited. So congratulations, but also thank you

804
00:37:12,000 --> 00:37:14,399
Speaker 2: for sharing that with my community. I think they're gonna

805
00:37:14,440 --> 00:37:14,719
Speaker 2: love it.

806
00:37:15,080 --> 00:37:17,399
Speaker 4: Thank you so much for the opportunity I've been It's

807
00:37:17,440 --> 00:37:18,560
Speaker 4: been amazing being on with you.

808
00:37:18,640 --> 00:37:21,759
Speaker 2: Oh my gosh, No, of course, thank you so much.

809
00:37:28,440 --> 00:37:30,960
Speaker 2: The advice shared on She's on the Money is general

810
00:37:31,040 --> 00:37:34,880
Speaker 2: in nature and does not consider your individual circumstances. She's

811
00:37:34,920 --> 00:37:38,400
Speaker 2: on the Money exists purely for educational purposes and should

812
00:37:38,400 --> 00:37:41,600
Speaker 2: not be relied upon to make an investment or financial decision.

813
00:37:41,960 --> 00:37:44,440
Speaker 2: If you do choose to buy a financial product.

814
00:37:44,239 --> 00:37:48,160
Speaker 3: Read the PDS TMD and obtain appropriate financial advice.

815
00:37:47,800 --> 00:37:49,160
Speaker 2: Tailored towards your needs.

816
00:37:49,520 --> 00:37:53,440
Speaker 3: Victoria Divine and She's on the Money are authorized representatives

817
00:37:53,480 --> 00:37:57,360
Speaker 3: of money Shoper Pty Ltd ABN three two one is

818
00:37:57,400 --> 00:38:00,640
Speaker 3: six four nine two seven seven zero as a f

819
00:38:00,719 --> 00:38:07,839
Speaker 3: s L four five one two eight nine