Speaker 1: Hello.
Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud Order Order
Speaker 2: Kerney Whoalbury and a waddery woman. And before we get
Speaker 2: started on She's on the Money podcast, I would like
Speaker 2: to acknowledge the traditional custodians of the land of which
Speaker 2: this podcast is recorded on a wondery country, acknowledging the elders,
Speaker 2: the ancestors and the next generation coming through as this
Speaker 2: podcast is about connecting, empowering, knowledge sharing and the storytelling
Speaker 2: of you to make a difference for today and lasting
Speaker 2: impact for tomorrow.
Speaker 1: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 4: Hello, and welcome to She's on the Money podcasts and
Speaker 4: millennials who want financial freedom. Welcome back to another one
Speaker 4: of our money diaries where I get the absolute privilege
Speaker 4: of talking to one of our beautiful She's on the
Speaker 4: Money community members all about their money story. Now, let's
Speaker 4: jump straight into it, because this week I got a
Speaker 4: message and it sounded exactly like this, Dear She's on
Speaker 4: the Money team. My mum was the breadwinner. This made
Speaker 4: me want to be as strong and independent as her.
Speaker 4: This hasn't been easy. I've gone from making poor financial
Speaker 4: decisions in my early twenties and falling victim to lifestyle
Speaker 4: creep to finally feeling somewhat in control. I've made a
Speaker 4: conscious choice not to have children, which has caused questions
Speaker 4: and comments both positive and negative. I've overcome the stereotypes
Speaker 4: of being in a male dominated industry, and I've concentrated
Speaker 4: on my career for over a decade to get to
Speaker 4: where I am now. With no degree, I made six
Speaker 4: figures and I'm on my way to owning a million
Speaker 4: dollar business with the hope to retire in my fifties.
Speaker 4: That She's on the Money podcast and Facebook group has
Speaker 4: helped me so much by changing my mindset about all
Speaker 4: things money. I'm hoping I can give motivation to someone
Speaker 4: else who might be feeling the same way about being
Speaker 4: an independent, childless boss Money Doris, I'm so excited to
Speaker 4: this episode.
Speaker 1: Oh me too, Me too. I'm glad to be here.
Speaker 4: How good, Oh my gosh. I cannot wait to dive
Speaker 4: into it, but in the perviviest way possible. Before we
Speaker 4: get there, can you give me an idea of what
Speaker 4: you think your money habits are If I asked you
Speaker 4: to give them a grade from A through to F I.
Speaker 1: Think at this point in time, i'd probably give myself
Speaker 1: a B minus.
Speaker 4: All right, well, let's learn a little bit more about
Speaker 4: that money, Daris. Let's dive straight in. Can you tell
Speaker 4: me a bit more about your money story.
Speaker 1: Yeah, for sure. So, as I said in my intro,
Speaker 1: Mum was the breadwinner, so she always had the full
Speaker 1: time job, never anything too big and fancy or I guess,
Speaker 1: but Dad just did odd jobs and it was a
Speaker 1: bit of a laborer, so he kind of had spells
Speaker 1: where he wasn't working. So we were comfortable, but we
Speaker 1: weren't wealthy or anything like that. We never went without
Speaker 1: or had any problems that way, but I definitely noticed,
Speaker 1: probably it was like eleven or twelve, the struggle that
Speaker 1: was about when there was like a drought coming in.
Speaker 1: There wasn't as much work around, so we definitely had
Speaker 1: like a little bit of a dip in what we
Speaker 1: could do and all of those types of things. Mum
Speaker 1: was really good because she pushed us to go out
Speaker 1: and get jobs when we were younger, Me and my siblings,
Speaker 1: we did work in like factories and stuff like that
Speaker 1: during the school holidays and you know, as like you know, thirteen,
Speaker 1: fourteen year old, she'd get all this money and then
Speaker 1: spend it.
Speaker 4: Yep. Great, I feel like I can resonate with that
Speaker 4: part of it.
Speaker 1: Yeah, that started really really early, to be honest. So
Speaker 1: obviously I like to spend money when I was younger,
Speaker 1: and that didn't stop as I was getting older. And
Speaker 1: then as I started, you know, finishing high school, working
Speaker 1: started working full time, and as I started building in
Speaker 1: my career, I just obviously started earning more and more
Speaker 1: and more and more, and I absolutely got stuck with
Speaker 1: lifestyle creep that one hundred percent. I'll put my hand
Speaker 1: up for that one.
Speaker 4: It's so easy, though, you just like slip into it.
Speaker 4: And I feel like if I explain that concept to
Speaker 4: people who haven't really spoken about their money story before,
Speaker 4: they're like, yeah, okay, whatever, Like inflation, things get more
Speaker 4: expensive over time, and I'm like, oh no, it's not
Speaker 4: just inflation getting us, it's us getting us.
Speaker 1: Yeah. Absolutely, And so I was one of those people
Speaker 1: that quite a few years ago, I did get stuck
Speaker 1: in a bit of bad debt, and I had credit
Speaker 1: cards and whatnot because it was kind of so open
Speaker 1: and available. But I did learn that that was terrible
Speaker 1: and I've got a bit of anxiety with not having
Speaker 1: any money and whatnot. So I got myself out of that,
Speaker 1: so that was fine, And to be honest, it wasn't
Speaker 1: until I found the podcast that I really realized, God,
Speaker 1: I'm not doing a good job here and I really
Speaker 1: need to change what I'm doing. And I have so
Speaker 1: much open to me and it's silly that I'm just
Speaker 1: wasting it all away. So I kind of concentrated on,
Speaker 1: you know, looking at my super and you know, making
Speaker 1: a bit of a budget and kind of understanding what
Speaker 1: I was doing there. But one thing that really got
Speaker 1: me was actually having a discussion with some friends and
Speaker 1: we're very open. You know, I've got some really good
Speaker 1: friends that have businesses and whatnot, and having them to
Speaker 1: bounce off and kind of, you know, realize that if
Speaker 1: I want to be as successful as I want to be,
Speaker 1: I really need to change my habits and my lifestyle
Speaker 1: a little little bit.
Speaker 4: I love that, So tell me a bit more about
Speaker 4: this changing my lifestyle a little bit. Because you dropped
Speaker 4: in your letter in you currently own six figures and
Speaker 4: you're on your way to owning a multimillion dollar business, Like,
Speaker 4: where is that coming? Into your money story because we
Speaker 4: need to know.
Speaker 1: Yeah, so obviously I have a very good job. I
Speaker 1: adore my job, I love what I do, and I
Speaker 1: have been very fortunate to work with some great people
Speaker 1: and get myself into a spot where I have the
Speaker 1: ability to purchase into a business. And that's where that
Speaker 1: six figures comes from. It's a huge undertaking and it
Speaker 1: is something that's been going on for the last couple
Speaker 1: of years, which has probably given me like the biggest
Speaker 1: smack to kind of say, I really need to be
Speaker 1: better with my money because this is a huge commitment
Speaker 1: to take on.
Speaker 4: I love that. So tell me a bit more about
Speaker 4: this business. How do you get yourself in a position
Speaker 4: where you're earning great money and you also have been
Speaker 4: given that opportunity, because that's not an opportunity we all get,
Speaker 4: like so many of us get really good jobs and
Speaker 4: it's never on the table to buy into a business,
Speaker 4: Like how does that eventuate?
Speaker 1: Yeah, So, in the industry that I'm in, it basically
Speaker 1: is people own their own small business within a business.
Speaker 1: Basically is kind of the easiest way to work it out.
Speaker 4: Is it a bit like a franchise without being a franchise.
Speaker 4: So there's like one main owner and then you get
Speaker 4: to own like a subsidiary.
Speaker 1: Maybe No, So it's more like you own your business
Speaker 1: and you're under an umbrella of and kels. So I
Speaker 1: guess I'm trying to think of if there's something similar
Speaker 1: like probably like let's say a mortgage broke it. They
Speaker 1: might work for a certain company, but they actually own
Speaker 1: their client base.
Speaker 4: Yes, okay, So this is where you might be like
Speaker 4: self employed but work for someone.
Speaker 1: Yeah.
Speaker 4: Correct, And is the benefit to you, like in that circumstance,
Speaker 4: is the benefit to you that you get like the
Speaker 4: brand and the exposure and you don't have to think
Speaker 4: about that stuff. But you get to then and the
Speaker 4: hell you know, and the admin help. Yeah, and then
Speaker 4: you get to kind of like own your clients and
Speaker 4: own your quote business.
Speaker 1: That's it.
Speaker 4: That's kind of cool, isn't it. Yeah?
Speaker 1: Yeah, so's it's pretty full on when you look at it,
Speaker 1: to be honest, But it doesn't come up very easily
Speaker 1: and often for people, I'd say, you know, because it
Speaker 1: basically comes around when people look to retire.
Speaker 4: Yeah, okay, And that's.
Speaker 1: Kind of where it's come up for me. I worked
Speaker 1: with an absolutely wonderful person who has recently retired, and
Speaker 1: his basically plan for me is that, like, I just
Speaker 1: look after the business at the moment and eventually I'll
Speaker 1: buy it.
Speaker 4: Okay, cool. I love that. So let's segue into the
Speaker 4: next question. I need to know the pervy details. What
Speaker 4: do you do exactly for work? And how much money
Speaker 4: do you currently earn?
Speaker 1: Yeah, so I'm an insurance broker.
Speaker 4: That's why you knew about mortgage broking. I was like,
Speaker 4: what is she talking about? Like and then you went
Speaker 4: into mortgage broking. I'm like, that makes a lot of
Speaker 4: sense to me because I own a mortgage breaking business.
Speaker 4: But how does she know?
Speaker 1: Okay? I was like, how do I say it without
Speaker 1: giving it away too quickly?
Speaker 4: I love that, Thank you for trying to keep the
Speaker 4: illusion going.
Speaker 1: And I earn just over one hundred and fifty thousand okay, nice,
Speaker 1: and plus I get an annual bonus.
Speaker 4: Okay, So tell me how that one fifty is made
Speaker 4: up of. Is that like commissions and a base or
Speaker 4: is that like just a set amount? And like, tell
Speaker 4: me about this bonus. I need to know all of
Speaker 4: the deeds.
Speaker 1: Yeah. So basically that is just a pure salary. That's
Speaker 1: just my salary. I don't get any commissions or or
Speaker 1: anything like that at this stage. I'm purely just an employee.
Speaker 4: I would be an employee for one hundred and fifty
Speaker 4: thousand dollars, so yeah, yeah, sure, good deal.
Speaker 1: And the bonus is basically my boss. Now she gives
Speaker 1: me ten percent of our growth.
Speaker 4: Oh okay, that's exciting. Does that really motivate you to
Speaker 4: keep bringing on new clients and grow the business?
Speaker 1: Absolutely? And to be honest, that's the reason why we've
Speaker 1: done it this way for them, it was the best
Speaker 1: idea to one keep me on, keep me motivated, and
Speaker 1: make me want to, you know, bring more people in. Basically, Oh,
Speaker 1: I love this.
Speaker 4: That is actually such a motivating way to kind of
Speaker 4: like build it without I feel like in this industry
Speaker 4: sometimes it can be seen as bad to get commissions,
Speaker 4: and I mean that's definitely a stereotype that doesn't exist anymore.
Speaker 4: A lot of people think it's bad, but at the
Speaker 4: end of the day, it's now set fee across the
Speaker 4: industry and there's no real additional commissions like they used
Speaker 4: to be. I mean, it used to be the wild,
Speaker 4: wild West. Like you've probably been in this as long
Speaker 4: as I've been in financial advice and mortgage broking, and
Speaker 4: you hear all the stories of what all the conferences
Speaker 4: and stuff used to be like, and you're like, oh,
Speaker 4: my lord, that is not what life is like now.
Speaker 4: We're like so vanilla. But I find it super interesting
Speaker 4: to ask people in this industry about I guess what
Speaker 4: they're working towards, talking about what we're working towards. What
Speaker 4: are your big money goals? What are you currently working towards?
Speaker 1: Yeah, well, I am hoping to buy a house soon hopefully.
Speaker 1: And then the other big money goal is I need
Speaker 1: to put money away because buying into a business is
Speaker 1: quite a large expense and there will be a very
Speaker 1: large loan attached to that.
Speaker 4: Yeah. I was going to say, are you going to
Speaker 4: save up for that? Or are you going to get
Speaker 4: a business loan?
Speaker 5: Like?
Speaker 4: Have you looked into what servicing for that might look like?
Speaker 1: Yeah? Luckily, we've actually had quite a few people around
Speaker 1: us do similar, So I've got quite a few people
Speaker 1: to bounce things off of and chat two and get
Speaker 1: their opinions on how it will and all that type
Speaker 1: of stuff. It'll be like a small chunk here and
Speaker 1: there to start with, and.
Speaker 4: That's the nicest way to do it. You don't have
Speaker 4: to go whole hog and like get the biggest loan. Ever.
Speaker 4: How good, that's so exciting. All right, let's go to
Speaker 4: a really quick break on the flip side. I want
Speaker 4: to talk to you about your best and worst money habits.
Speaker 4: I'm super pervy on those because I know that you've
Speaker 4: changed them since joining the She's on the money community.
Speaker 4: And I want to know a bit more about the
Speaker 4: debt that you got yourself into when you're a little
Speaker 4: bit earlier and didn't make as great a money decisions.
Speaker 4: So guys, don't go anywhere. All right, money divest We
Speaker 4: are back, And first thing off the bat, I want
Speaker 4: to know for me, business is the biggest investment, Like,
Speaker 4: that's where most of my money goes. Do you currently
Speaker 4: invest If so, what in? If not, what's the plan
Speaker 4: and how does that work for you?
Speaker 1: Yeah? I do a little bit. So I have just
Speaker 1: a small amount in some ETFs, so that's obviously from
Speaker 1: listening to you, and I'll just decided to jump in
Speaker 1: there a little bit. But I did put that on
Speaker 1: hold from putting more in just so I could save
Speaker 1: money for the house and do all of that type
Speaker 1: of thing. Yeah, and then I've got my super which
Speaker 1: is at about one hundred and twenty five thousand.
Speaker 4: How exciting. Tell me a bit more about this investing
Speaker 4: journey when you started, How did you pick a platform?
Speaker 4: How did you pick the ETFs that you wanted to
Speaker 4: invest in?
Speaker 1: I did look at you know, spaceship and things like that,
Speaker 1: but I decided to just use the comm sec.
Speaker 4: YEP, perfect app feel safe right.
Speaker 1: Yeah, And it was quite easy and there wasn't a
Speaker 1: million choices and things to look at. It was kind
Speaker 1: of a.
Speaker 4: Concept pocket yeah yeah, yeah, so like the one that
Speaker 4: you got a little bit of a condensed list of
Speaker 4: ets Yeah, okay, I love that for someone who has
Speaker 4: analysis paralysis.
Speaker 1: M hmmm. So it was good to just like kind
Speaker 1: of have a read and understand a little bit as
Speaker 1: to what they were offering and what that actually looked like,
Speaker 1: to just like, you know, put my toes in the
Speaker 1: water and see how it went. Yeah.
Speaker 4: No, I love that. That's exactly how I feel like
Speaker 4: most people start investing. And I've heard really good things
Speaker 4: about Contact Pocket because it does have that condensed list.
Speaker 4: You're like, okay, now I'm not looking at hundreds of them,
Speaker 4: I like have ten, let's go from there. So that's
Speaker 4: super exciting. Debt do you currently have any and if not,
Speaker 4: can you tell me a bit more about your debt
Speaker 4: story when you got yourself into a little bit of
Speaker 4: a lifestyle creep conundrum.
Speaker 1: Of course, Yes, I do have a car loan. Actually
Speaker 1: was listening to one of the earlier episodes and someone
Speaker 1: was talking about having a car loan with a balloon yeah,
Speaker 1: and that really resonated with me because that seems terrifying,
Speaker 1: you know, getting to the end of a loan cycle
Speaker 1: and then having to pay a lump sum. But I
Speaker 1: actually got my car on a balloon payment scheme. But
Speaker 1: I spoke with the financial guy at the car yard
Speaker 1: and I'm actually just paying extra to get it.
Speaker 4: Paid off quicker and like not have to have Yeah.
Speaker 1: Yeah, yeah. And basically they had like a deal going
Speaker 1: on and the rate was so much cheaper if you
Speaker 1: took the balloon option.
Speaker 4: Yeah. Isn't it crazy how much they kind of incentivize
Speaker 4: you to stay in debt.
Speaker 1: Yeah exactly. But he was so good and he just said,
Speaker 1: if you pay this much per fortnite, whatever it is,
Speaker 1: you'll have it paid off before that date. And you'd
Speaker 1: be all good and you won't have anything to pay.
Speaker 1: So that was I thought, fantastic advice.
Speaker 4: Yeah, like we're all going to go with a lower
Speaker 4: interest rate?
Speaker 1: Yes, please exactly. Yeah. Yeah.
Speaker 4: Does that make you feel I mean we're in the
Speaker 4: middle of cost of living crisis? Does that also make
Speaker 4: you feel a little bit more secure knowing that if
Speaker 4: things hit the fan, you could lower how much you're
Speaker 4: paying on your car and still be okay? Or is
Speaker 4: that something that you haven't really thought of?
Speaker 1: Yeah, I guess it does. While I'm in the last
Speaker 1: like little leg of you know, saving money for a house,
Speaker 1: it is actually quite good because I have dropped that
Speaker 1: payment slightly just to add those extra couple of dollars
Speaker 1: into the savings account.
Speaker 4: Yeah, it's given you a bit more flexibility.
Speaker 1: Because I look at the you know, what's O and
Speaker 1: blah blah blah, work out the calculation, and I'm already
Speaker 1: way ahead than what I actually need to be. So yes,
Speaker 1: it is. It's a nice piece of mind for sure.
Speaker 4: And how much is your car loan right now? And
Speaker 4: what did you take out?
Speaker 1: So it was forty eight thousand and I've got twenty
Speaker 1: five thousand left on it. Yeah, so I think it
Speaker 1: should be paid off in about eighteen months.
Speaker 4: How cool? Can I ask what type of car does
Speaker 4: a forty eight thousand dollar loan get you?
Speaker 1: Well? I did also have a trade in.
Speaker 4: Oh, you're about to tell me a bougie option which
Speaker 4: she's a fancy girl.
Speaker 1: I actually yeah, I drive, are you?
Speaker 4: Yeah?
Speaker 1: Cool?
Speaker 4: You don't take me as a yute gurlie.
Speaker 1: But I love this well, to be honest, it all
Speaker 1: fits in with my work, so I do a lot
Speaker 1: of long driving and country and stuff like. That's so fair.
Speaker 4: Okay, So the type of insurance broking you're in is
Speaker 4: not like life insurance for people in the CBD. No,
Speaker 4: it's more maybe like agricultural and farming. Is that right?
Speaker 1: Yeah, I have a lot of that. I also specialize
Speaker 1: in hard to place Ah cool, yeah, so big like manufacturing,
Speaker 1: you know, basically anything that can hurt people or yeah
Speaker 1: yeah yeah and in a bad way.
Speaker 4: Oh that would be so interesting to do. Do you
Speaker 4: love it in addition to it being a really good career?
Speaker 3: Oh?
Speaker 1: Yeah, I mean I say to people it's stressful quite
Speaker 1: a lot. Yea, it will be, but I absolutely love it.
Speaker 1: I don't know what it is and whether I'm just
Speaker 1: a weird person that likes things like that.
Speaker 4: But ye, no you're not. I get it. I get
Speaker 4: it all right, Tell me a bit more. You've obviously
Speaker 4: changed your money habits more recently. What's your best money habit.
Speaker 1: My best money habit would probably have to be that
Speaker 1: if I decide on something, I am pretty good at
Speaker 1: getting it done. So if I sat down one day
Speaker 1: and said I need to change, I need to stop
Speaker 1: spending and save a bit more, I will do it.
Speaker 1: Like if I put a goal, then I'll cut corners
Speaker 1: and do what I need to do to make sure
Speaker 1: I get there. So that's probably my best one.
Speaker 4: That's actually a fantastic habit. Like doing what I said
Speaker 4: I was going to do is something I am not
Speaker 4: that great at. I'm always like, oh, I'll be better
Speaker 4: at X, or I'll be better at Y at some
Speaker 4: point in the future, and then I don't do it.
Speaker 4: Like if that was my money habit, I'd be so
Speaker 4: proud of myself.
Speaker 1: Yeah, well, I mean, once I get to the end,
Speaker 1: I am, and to be honest, I'm not perfect, so.
Speaker 4: I do sometimes no one is come on.
Speaker 1: Starter on these things, but it definitely is something that
Speaker 1: I am. I'm glad that I can do if I
Speaker 1: need to.
Speaker 4: I love that. Can we flip the narrative? What are
Speaker 4: you not so good at? What's your worst money habit?
Speaker 1: I'm just a spendy gal ah girl.
Speaker 4: Same what do we spendy on?
Speaker 1: Though I'm an absolute yes man. I will say yes
Speaker 1: to absolutely anything, so if that's a dinner, a night out,
Speaker 1: an activity, I'm one of those people like I recharge
Speaker 1: with others. So I'm always out about doing things. And
Speaker 1: you know, even if you just go out for breakfast,
Speaker 1: it's an expensive thing these days to go out for breakfast.
Speaker 4: Why is it so expensive? My husband and I went
Speaker 4: out on the weekend and he had like this fancy
Speaker 4: eggs benedict thing that looked really good. I'm so basic.
Speaker 4: I always get two poached eggs on toast, like I
Speaker 4: can't be changed. Two coffees. It was like sixty dollars.
Speaker 4: Be for real, be for real, Like, do you remember
Speaker 4: back in the day it used to be like fifteen
Speaker 4: dollars for breakfast and maybe a coffee will push it
Speaker 4: close to twenty, but.
Speaker 1: It wasn't exactly. And that's you add that and then
Speaker 1: you kind of go all right, Well, I'm also going
Speaker 1: out for dinner that night, or you know, going out
Speaker 1: with the girls for drinks or whatever it might be.
Speaker 1: That's usually my kryptonite. I don't don't like to say no.
Speaker 4: It adds up, hey, Like I just I can't get
Speaker 4: over it. And like I'm very privileged in that I'm
Speaker 4: still able to afford to do that, Like we put
Speaker 4: it into our budget and we make it happen, and
Speaker 4: that's something that we really value. But it's so tough
Speaker 4: at the moment because I look at that and I
Speaker 4: go historically for me, I don't know about you, dinner
Speaker 4: and breakfast, like they used to be two different price points.
Speaker 4: Like breakfast used to be like the hey, girlfriend, let's
Speaker 4: go out for brecky because it's like cheaper and you know,
Speaker 4: we can go for a walk after and like it's
Speaker 4: not the expensive option. And now I feel like I'm
Speaker 4: spending exactly what I would at brunch on dinner like
Speaker 4: before real I can't deal with that. That's not fair.
Speaker 1: Yeah, And I think that probably leads on to my
Speaker 1: second worst habit is that I don't know where all
Speaker 1: my money goes. So I have like it's set up
Speaker 1: that I know that you know, when I get paid,
Speaker 1: all my money goes to my bills and this and
Speaker 1: this and this, and they all sit in their own accounts.
Speaker 1: But then I just have, you know, my spending money,
Speaker 1: and then I look at that and it just and
Speaker 1: I don't know where it goes in the end.
Speaker 4: Why do you think that is?
Speaker 1: I I've just never been a person to keep track
Speaker 1: of it. I've not ever been that person that hasn't
Speaker 1: been able to pay something or have got to that
Speaker 1: point where I've had an issue forced into it. And
Speaker 1: that's probably what's come from having this higher income, is
Speaker 1: that I kind of sit there and I probably give
Speaker 1: myself too much money to play with and I don't
Speaker 1: need to see where it's all going or see what's
Speaker 1: happening with it. Albeit I did just change that, made
Speaker 1: a decision on Sunday that I do need to cut
Speaker 1: down on my spending et cetera, et cetera, because I'm
Speaker 1: getting so close to the buying the house situation that
Speaker 1: I really need. Yeah, that's exciting, pull that down.
Speaker 4: Yeah, And I feel like the second you get the house,
Speaker 4: the spending just increases. And even if you have a
Speaker 4: fully furnished house right now, like you will always find
Speaker 4: things that you need to purchase in this new house
Speaker 4: above and beyond all of the actual property costs. You're like,
Speaker 4: oh my gosh, well, actually there's a spare corner here.
Speaker 4: I need a side table. You might be buying it
Speaker 4: on Marketplace, but that's still money going out the door.
Speaker 4: Like it is wild how that compounds. I'm going to
Speaker 4: help you out. I'm going to gift to you our
Speaker 4: money Masterclass so that you can kind of get on
Speaker 4: top of it, mainly because I'm really proud of it,
Speaker 4: like I just want everyone to have it. And I
Speaker 4: think that that'll give you really good insight into where
Speaker 4: your money is going. And I think the best thing
Speaker 4: is that it's all automated, so it's like really low effort.
Speaker 4: So put all your income in, put what you're spending
Speaker 4: in there, and it will spit out like what bank
Speaker 4: accounts things need to go to, and like the percentages
Speaker 4: you're spending on, which you don't need to adhere to percentages.
Speaker 4: If you know me well enough, you know that I
Speaker 4: don't like budgeting on percentages, but I do love knowing
Speaker 4: what percentage of my income's going to rent or what
Speaker 4: percentage of my income. Am I able to save, not
Speaker 4: so that I can benchmarket against other people. I just
Speaker 4: like being comfy with my own numbers.
Speaker 1: Absolutely, we will love numbers.
Speaker 4: So we will set you up with that. But what
Speaker 4: I'm hearing right now is that you're pretty money savvy,
Speaker 4: and I mean you're clearly being offered an epic opportunity,
Speaker 4: like the fact that you'll be able to own a
Speaker 4: million dollar business and potentially retire in your fifties, like
Speaker 4: that is elite. One thing we didn't get onto that
Speaker 4: you mentioned in your money story, because you know, like
Speaker 4: we're here to talk about money, but this is more
Speaker 4: of a personal thing, you said. I've made the conscious
Speaker 4: choice to not have children, which has caused questions and
Speaker 4: comments both positive and negative. I'd love to touch on
Speaker 4: this because I feel like it's such a fickle space,
Speaker 4: like and I honestly, and I do apologises. I forgot
Speaker 4: to ask about it because it's not important to me
Speaker 4: whether you have kids or not, but I feel like
Speaker 4: it is really important to a lot of other people.
Speaker 4: Often they'll go, oh, what's your name, Oh what do
Speaker 4: you do for work? Oh do you have kids? Like
Speaker 4: it's the next question, So tell me about that. Decision
Speaker 4: and how hard it was to make, or like how
Speaker 4: that's impacted your life.
Speaker 1: To be honest, it's probably been a decision that I
Speaker 1: made a long, long time ago, you know, it's it's
Speaker 1: not been in the last a few years or whatever
Speaker 1: that might be. And I've been pretty steadfast in it.
Speaker 1: You know, when you just know something it's.
Speaker 4: Not for you, it's not for me.
Speaker 1: Yeah, yeah, And you know, don't get me wrong, Like,
Speaker 1: I love my niece and I've got you know, there's
Speaker 1: lots of people around me with babies and I love them,
Speaker 1: but it's just not my future. I just don't see it.
Speaker 4: I love that for you, like I just love that
Speaker 4: you've made the decision and it works for you. Although
Speaker 4: as this isn't on you, I just think it's really
Speaker 4: frustrating when I'm having a conversation like this, and when
Speaker 4: anyone's having a conversation like this, you're probably going to
Speaker 4: agree with me here, and you know, you say, oh,
Speaker 4: I just don't want to have kids. Often we feel
Speaker 4: the need to then justify it and go, oh, but
Speaker 4: I do love my nieces, and I do love my nephews,
Speaker 4: and I really love all the other kids in my life. Like,
Speaker 4: of course you do, Like there are other humans in
Speaker 4: your life, like, oh, it's like my friends who are like,
Speaker 4: oh yeah, I just don't like men, like I like
Speaker 4: seeing women. But it doesn't mean I hate men. It
Speaker 4: doesn't mean like we don't have to justify it. You
Speaker 4: don't have to have kids, you don't need to do this.
Speaker 4: You've made this conscious decision and it's in your best interests.
Speaker 4: And I just think it's so wild that we automatically
Speaker 4: default to feeling the need to justify our own decisions
Speaker 4: as though we owe somebody else an explanation. And I'm
Speaker 4: not meaning to call you out on that, but I'm
Speaker 4: more saying, like, we all do it, and I just
Speaker 4: look at it and go, babe, like, of course you do.
Speaker 4: Like you've seen like a really kind, nice human And
Speaker 4: just because you're choosing not to have children doesn't mean
Speaker 4: you don't like them.
Speaker 1: No, And I mean, this will, this will probably you know,
Speaker 1: hit you a little bit. But for me, I did
Speaker 1: make the conscious decision to tell my employer that I
Speaker 1: wasn't going to be doing that, and in all honesty,
Speaker 1: I think that is one of the main reasons why
Speaker 1: I was able to get where I am.
Speaker 4: Oh my god, that's so pervy and that pisces me off.
Speaker 1: Yeah, because there wasn't that you know, weird thought process
Speaker 1: that oh, she'll just go off and have kids at
Speaker 1: some stage, so you know, we better not put too much,
Speaker 1: you know, on them and blah blah blah blah blah, whereas.
Speaker 4: You've just been really clear with them. Like, by the way,
Speaker 4: this isn't for me.
Speaker 1: Because I feel like I shouldn't have to. But at
Speaker 1: the same time, I feel like if I didn't, then
Speaker 1: I could have looked a bit different, if that makes sense.
Speaker 4: Isn't it sad that that's the case, Like, I'm so
Speaker 4: glad that you've used that to your own advantage, and
Speaker 4: I think that women should be using every opportunity like
Speaker 4: this to their advantage. Like, yeah, it sucks. No, I
Speaker 4: don't want to be in this position and be put
Speaker 4: behind because of that choice. But also we use what
Speaker 4: we've got to use and make it work for us, right,
Speaker 4: like get it? Yeah, And I mean, let's be honest,
Speaker 4: if ever you decided to change your mind and had
Speaker 4: a kid, you could be like, oh my gosh, miracle baby,
Speaker 4: Like who saw this coming? Yeah, oh this is meant
Speaker 4: to be the stars are aligned and it's none of
Speaker 4: their bloody business exactly.
Speaker 1: But I guess that's probably you know, as I mentioned
Speaker 1: in my story, you know, it is a very male
Speaker 1: dominated industry because the way we service our clients. Having that,
Speaker 1: you know, say, nine to twelve months off after you've
Speaker 1: had a baby, is extremely hard to handle from our
Speaker 1: kind of position, if that makes sense.
Speaker 4: No, I get it as someone in finance, the way
Speaker 4: people side eye me because I have had a baby,
Speaker 4: and even the way people have side eyed me because
Speaker 4: I say, oh, yeah, no, no, no, I dropped Harvey off
Speaker 4: to daycare so it could come into recording. They're like,
Speaker 4: Victoria is five months old, and I'm like, yep, because
Speaker 4: like I have a career and a life, and like
Speaker 4: this is what I've chosen. And just because I'm parenting
Speaker 4: different to you doesn't make me a less apparent. And
Speaker 4: I just feel like I'm probably in a situation like
Speaker 4: you where I'm immediately defending my decisions, even though i
Speaker 4: know they're the right ones for me and my family.
Speaker 1: Like be for real, Yeah it is. It's frustrating when
Speaker 1: you do you have to kind of defend it in
Speaker 1: some way. Yet if I didn't have a career or something.
Speaker 1: Someone would be judging me for that, Like you know,
Speaker 1: it's just never ending cycle.
Speaker 4: Not everything is for everybody. You don't want a career, Slay,
Speaker 4: I'm glad you know that you don't want a career.
Speaker 4: You don't want to work, and you want to be
Speaker 4: a stay at home mum. Like I hope that that
Speaker 4: is the most fulfilling job you ever have, because that's
Speaker 4: all you've ever wanted. Like, I don't care what you do,
Speaker 4: as long as you have the tools and the resources
Speaker 4: to make educated decisions about your life and it is
Speaker 4: a choice, not something you're forced into. I could not
Speaker 4: care less.
Speaker 1: Yeah, absolutely be for real.
Speaker 4: Anyway, I'm glad that I asked you about that because
Speaker 4: I feel like there are a lot of people who
Speaker 4: would be going or how she do that? Like what
Speaker 4: are the negative comments that people are making? Because you
Speaker 4: mentioned here that there are like positive and negative, and
Speaker 4: I feel like a lot of the positive are going
Speaker 4: to be like, oh, you can focus on your career,
Speaker 4: and oh my gosh, I'm glad you're doing the right
Speaker 4: thing for you and get it. But like, are people
Speaker 4: really that brazen that they're so negative?
Speaker 1: Still? Yeah, people can be and I guess that was
Speaker 1: the reason why I wanted to put it in the story,
Speaker 1: was because there are probably a lot of people out
Speaker 1: there who do feel this way, and to be honest
Speaker 1: to my mom a long time to understand that that
Speaker 1: was kind of where I was going. But I'm like,
Speaker 1: I've got siblings, I've got cousins. It's fine, babies around
Speaker 1: and be right. But the negative comments that come out
Speaker 1: of it always the same.
Speaker 4: You'll change your mind, Why would I change my mind?
Speaker 1: Always the same, And I'm like, okay, cool, maybe I do.
Speaker 1: But it's always said with that malice of you know,
Speaker 1: with that kind of thought process, like you're just being selfish.
Speaker 1: You know you're not bring it out of this world,
Speaker 1: so you're being selfish or you know this isn't what
Speaker 1: you're meant to do, or how could you do that? Is?
Speaker 1: It is really odd how.
Speaker 4: Pressed someone else gets about your personal situation.
Speaker 1: And unfortunately it's always usually comes from women.
Speaker 4: Yes, I've noticed that. I find it wild when people
Speaker 4: think that the decision to not have kids is selfish,
Speaker 4: when it's probably one of the most selfless things you
Speaker 4: can do, Like I've put me first. We are already
Speaker 4: in a world that is arguably overpopulated. Who knows where
Speaker 4: the world is going. It was a conundrum that I
Speaker 4: had when my husband and I were choosing to have kids.
Speaker 4: I was like, is this a world that we want
Speaker 4: to bring a child into? Like is this what we
Speaker 4: want to do? And if we are, we have to
Speaker 4: commit fully to that, Like I don't want to be
Speaker 4: a half parent, I don't want to be a parent.
Speaker 4: That then decides, oh, this probably wasn't for me, Like
Speaker 4: I wanted to be boots and all in and I am,
Speaker 4: and I'm so glad because that's aligned to my values.
Speaker 4: But like, I think, having become a parent, it's made
Speaker 4: me realize now that the decision to not be a pair,
Speaker 4: if you were even erring on the side of caution,
Speaker 4: is a really powerful one because it's not for the weak.
Speaker 4: It is not for the week.
Speaker 1: No, not with all, not with all the h oh
Speaker 1: really you know you get from people. It's actually it
Speaker 1: gets a bit tiring at that time. So usually I
Speaker 1: just don't say anything. I just say no, I don't
Speaker 1: have kids.
Speaker 4: You just look back at them and be like, oh,
Speaker 4: and you chose to have kids with those genetics, like
Speaker 4: be for real, all right? I want to know. Now
Speaker 4: we've had a really good chat, and I feel like
Speaker 4: you are one of these people that just knows themselves
Speaker 4: and I love that, Like you know where you're going,
Speaker 4: you know what you want out of life, Like you
Speaker 4: graded yourself a BS, but you have a really good
Speaker 4: grasp on what your money story was, and you're earning
Speaker 4: great money. And you know, the one thing that you
Speaker 4: did say was, oh, you know, I'm a bit of
Speaker 4: a yes man. I'm a spendy goal but also my
Speaker 4: second worst habit is that I don't know where my
Speaker 4: money goes. And like that's so easily fixable. What would
Speaker 4: it take to get you to an A plus?
Speaker 1: To be honest, probably just being more aware of where
Speaker 1: my money goes and what I'm actually spending on to
Speaker 1: see if it's just you know, things that I can change,
Speaker 1: you know, whether I you know, don't get a coffee
Speaker 1: every day and I just I can make them at home.
Speaker 1: I don't need I don't need a morning coffee every day.
Speaker 1: Things like that. But to be honest, I think I
Speaker 1: really need to probably speak to like a financial advisor
Speaker 1: or something like that just for the future planning.
Speaker 4: Yeah, I've got one for you. I will set you
Speaker 4: up off air. I feel like that's a really good idea,
Speaker 4: especially because you have such clarity in your career and
Speaker 4: what you're doing, and like, let's be honest, the biggest
Speaker 4: financial burden these kids. You already know you're not going
Speaker 4: to have that. Okay, well, how are we making ourselves wealthy?
Speaker 1: Yeah? And that's and that's it, because I do look
Speaker 1: at it and I say, you know, I do have
Speaker 1: quite a high income. I should be doing more with it,
Speaker 1: if that makes sense, or whether that's investing, whether that's
Speaker 1: putting it in my super or whatnot. I've obviously had
Speaker 1: the savings for a house being the main priority, but
Speaker 1: once that's done, I really need to probably branch out
Speaker 1: and think about it a bit more.
Speaker 4: I love that. All right, Well, it doesn't seem like
Speaker 4: you're that far off an A plus money Dorris. I
Speaker 4: have loved this conversation. I feel like it's been an
Speaker 4: empowering chat. I hope that everyone listening is kind of like, yeah,
Speaker 4: I love this for you, and they kind of see
Speaker 4: that choice to not have children slightly differently, and maybe
Speaker 4: if everyone in the Shees on the money community goes,
Speaker 4: you know what, we're gonna actively never have a thing
Speaker 4: to say about anybody who chooses not to have children,
Speaker 4: because you also don't know if it's a choice. Like
Speaker 4: I have a few girlfriends who have the hand has
Speaker 4: kind of been forced because of fertility issues, and now
Speaker 4: they will say, yeah, yeah, we're choosing a child free
Speaker 4: life and it's a choice, but it wasn't really a choice.
Speaker 4: And I feel like that's none of your damn business.
Speaker 1: Yeah. Absolutely, and that's the the hardest part. But do
Speaker 1: we need to stop having that when you're having kids
Speaker 1: conversation because it is it can be really triggering.
Speaker 4: Get in the bin, all right, well money, Doris, Thank
Speaker 4: you so much. It has been an absolute pleasure, and
Speaker 4: I know that our community is going to eat this
Speaker 4: one up, so I really appreciate your willingness to share.
Speaker 1: Thank you so much. Appreciate it.
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