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Speaker 1: She's on the Money. She's on the Money, and now

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Speaker 1: for an introduction from our friend Isabella, who's four years

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Speaker 1: old and the youngest member of the She's on the

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Speaker 1: Money community.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: for people who are finial Freedom, my Lin, Joseh King,

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Speaker 2: I'm Glacko, and jagd As I say down to Royal Didine.

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Speaker 3: Joining us today on this episode of Money Diaries is

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Speaker 3: once again Ryan John and our friend Georgia King and

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Speaker 3: also guys, I'm here. Thanks for coming here, Yeah, thank you,

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Speaker 3: thank you so much. This week's episode is actually a banger,

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Speaker 3: and I'm so excited about it. This story is honestly

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Speaker 3: so inspiring to have gone from a fine and abusive

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Speaker 3: relationship to being an absolutely epic mum of two who

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Speaker 3: gets for kids out of bed pre six am and

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Speaker 3: into daycare before she starts work at seven every day.

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Speaker 3: This episode is honestly going to be one of your

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Speaker 3: favorites as well, So let's dive straight in. Ryan, can

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Speaker 3: you read the email she sent through to you.

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Speaker 4: I'm twenty eight, full time worker, part time UNI student

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Speaker 4: studying commerce. That's already queen a very busy plate. Two

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Speaker 4: little kids in full time daycare and a five fox husband.

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Speaker 4: We just started building our family home and we will

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Speaker 4: rent out the current duplex we're in when our new

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Speaker 4: home is complete. My money story hasn't always been positive.

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Speaker 4: This is my second marriage. My first was abusive and

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Speaker 4: it left me with nothing, not even friends. I had

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Speaker 4: to rebuild my life from scratch. I wish she's on

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Speaker 4: the money was around back then, which is nice to say.

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Speaker 4: My parents split not long after the first marriage ended,

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Speaker 4: so I've been helping my dad with financial literacy ever since.

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Speaker 4: Thank you very much that she's on the money, where

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Speaker 4: snowballing credit card debt that my mother left him, and

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Speaker 4: learning to get back on our feet. First of all,

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Speaker 4: thanks for the messaging. I know we kind of sometimes

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Speaker 4: take it for granted, but sharing this story is not easy,

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Speaker 4: so thank you for that.

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Speaker 5: No worries, Hi, how are you going?

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Speaker 6: Very good?

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Speaker 4: And we know that your husband you mentioned he was

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Speaker 4: five zero and he's just left.

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Speaker 5: Yes, he has gone back to work.

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Speaker 4: So can I ask when you're a full time worker,

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Speaker 4: part time UNI student to small kids and your husband's

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Speaker 4: just gone away, how on earth do you survive the day?

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Speaker 6: Because that sounds like a lot going on.

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Speaker 3: That's epic.

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Speaker 5: Yeah, it is a lot going on. For me. It's

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Speaker 5: all about routine. I have to have routine. So we

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Speaker 5: are generally out of the house by six am and

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Speaker 5: I start work at seven am, so it's a really

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Speaker 5: long day for all of us. I do need to

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Speaker 5: make sure that pretty much everything has been done at

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Speaker 5: home prior to leaving the house. Otherwise if I come home,

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Speaker 5: then I've got massive panic attacks that I've got so

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Speaker 5: much to do.

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Speaker 6: Yeah, that's the worst.

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Speaker 3: But oh my gosh. So you get two kids up, ready,

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Speaker 3: out the door and to day care by six am.

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Speaker 5: Yeah, so they're generally at daycare at six thirty am,

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Speaker 5: and then I start work at seven.

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Speaker 3: Real queen, and five days a week.

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Speaker 5: Five days a week. Now, Yeah, oh.

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Speaker 3: My gosh, that is actually epic. I'm so impressed. Yeah,

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Speaker 3: just by that, I can't wait for the.

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Speaker 6: Rest of you.

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Speaker 2: All Right.

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Speaker 4: I have so many more questions and we'll get to them,

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Speaker 4: and we'll get to them soon. But let's go through

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Speaker 4: the quick fire questions. First is to bring everyone up

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Speaker 4: to speed on where you're at.

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Speaker 3: Yes, these are the questions that everyone knows and loves.

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Speaker 3: So we will start with can you please describe to

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Speaker 3: us your relationship with money.

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Speaker 5: I feel like now my relationship with money is actually

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Speaker 5: really good. I did not have a good relationship with

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Speaker 5: money growing up, and then once I got to working age,

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Speaker 5: so I think that's fourteen and nine months, I was

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Speaker 5: able to get my first job. From there, my parents

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Speaker 5: paid nothing for me except for some food on the table.

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Speaker 5: Everything from then on I had to do myself. So

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Speaker 5: it was a real journey in learning how to save,

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Speaker 5: how to pay my debts, pay bills, and from there

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Speaker 5: getting into a relationship with somebody that controlled everything was

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Speaker 5: really hard and getting out of that was even harder.

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Speaker 5: So I was able to learn a lot more after

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Speaker 5: that ending. So it was kind of my beginning to

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Speaker 5: I guess, find what I could do with savings and

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Speaker 5: where I could put my money and how it would

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Speaker 5: benefit me in the future.

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Speaker 3: Yeah, epic. And what do you do for work? What

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Speaker 3: do you do every day? I know your unique So

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Speaker 3: can you explain a little bit more about that?

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Speaker 5: Yeah, so full time working. I am an office manager,

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Speaker 5: so within administration and accounts and university, I am in

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Speaker 5: my second year of studying commerce with a major in

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Speaker 5: counting air pig.

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Speaker 3: I love when people are studying money.

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Speaker 6: But that's just me. Ryan.

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Speaker 3: You have an accounting degree, don't you.

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Speaker 6: Yeah, currently going to very good use is again now.

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Speaker 3: Literally work with cheese on the money. It's very relevant.

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Speaker 3: Good question here. Have you ever asked for a pay rise?

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Speaker 3: If so, had that go.

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Speaker 5: In this current job, I have not needed to ask

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Speaker 5: for a pay rise because they see the work and

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Speaker 5: effort that I put in, so they approach me about it,

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Speaker 5: which is great. However, previously, in different jobs, I have

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Speaker 5: asked for pay rises and generally they're pretty accommodating as

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Speaker 5: long as I have the evidence to back it up

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Speaker 5: of why I think I deserve it and the reasons

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Speaker 5: behind why I might need one.

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Speaker 4: That's pretty rare that an employer themselves will go, you're

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Speaker 4: doing a great job. Here is a pay rise, and

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Speaker 4: don't make you ask. I mean, it's how it should be,

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Speaker 4: but it's I feel like that's pretty rare.

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Speaker 3: That is super rare.

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Speaker 5: Yeah, it is pretty rare. I've been with this company

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Speaker 5: for the last three years and I I'm really happy

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Speaker 5: to continue on for as long as possible.

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Speaker 6: Yeah, that's awesome.

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Speaker 3: I hope everyone and the She's on the Money team

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Speaker 3: takes note of that. That's fair. Help all right? What

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Speaker 3: do you earn and how much money is sitting in

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Speaker 3: your bank accounts right now?

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Speaker 5: So I earn ninety thousand dollars per anim plus superannuation

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Speaker 5: currently in my bank accounts. I've got two mortgage offset

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Speaker 5: accounts and an up account.

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Speaker 6: Yeah, and.

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Speaker 5: Using the shees on the money code. By the way, like.

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Speaker 3: They haven't sponsored this episode, I'm just in love with

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Speaker 3: I love it.

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Speaker 5: So offset accounts have three thousand dollars in them, and

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Speaker 5: then the account has roughly fourteen and a half thousand

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Speaker 5: dollars and a lot of that will go towards doing

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Speaker 5: things for our new home after outbuilders complete.

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Speaker 6: So exciting, ill saving And when's the house due to

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Speaker 6: be compled?

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Speaker 5: Probably mid this year. We're just waiting for this lub

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Speaker 5: to go down.

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Speaker 3: That's so exciting.

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Speaker 6: That's so much fun building the house so good.

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Speaker 3: Also, can we just give a quick props? I know

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Speaker 3: I'm meant to be asking the questions, but quick props

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Speaker 3: working mum two kids, gets up super early and makes

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Speaker 3: a banger of an income.

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Speaker 6: Yea, so good.

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Speaker 3: So do you feel confident we're making decisions around money?

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Speaker 5: I do now I feel like Everything that I do

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Speaker 5: is very highly researched, or I might sit on a

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Speaker 5: purchase for months a month before I do it, So

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Speaker 5: I feel pretty confident with what I'm doing at the moment.

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Speaker 5: My other half has absolutely no idea with money. He

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Speaker 5: just sends all his pay to me, and I'm the

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Speaker 5: one that give you sup.

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Speaker 3: There's always a way. I feel like five fo Often

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Speaker 3: that is a story I hear feel like they're like,

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Speaker 3: all right, I'll just go away and make money. Can

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Speaker 3: you deal with it back at home?

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Speaker 4: Far out much.

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Speaker 5: I guess it's just easier for us because I'm able

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Speaker 5: to put it towards where it needs to go, whereas

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Speaker 5: if it was sitting in his account, then he sees

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Speaker 5: it as spending money.

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Speaker 6: So smart.

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Speaker 3: Do you feel like you're on the same team when

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Speaker 3: it comes to money.

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Speaker 5: Absolutely. We sit down and go through spreadsheets, We go

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Speaker 5: through budgets, we go through where money is meant to

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Speaker 5: be going for bills and what's coming up soon. So

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Speaker 5: he knows everything that's in our accounts. He knows what's

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Speaker 5: going on. He just doesn't want to know.

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Speaker 4: Not that it sounds like you need it, but do

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Speaker 4: you want this? She's on the money budgeting in cash

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Speaker 4: Flow Masterclass.

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Speaker 5: You know what, I already received that from the lovely Victoria.

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Speaker 5: Really it was my daughter that did.

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Speaker 3: My gosh, she's your daughter, Isabelle. Yeah, oh my gosh,

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Speaker 3: she's my favorite human. Oh that like actually actually the

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Speaker 3: other day, oh my gosh. In the Facebook group, Ryan,

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Speaker 3: you clearly don't listen to our podcasts, so if you'd

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Speaker 3: like to leave her, that's cool. The other day we

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Speaker 3: had a little girl writing that she introduces Georgia as

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Speaker 3: her dogs in the back, and then Elle sent in

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Speaker 3: the recording because I said, if Isabelle would actually record

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Speaker 3: that for me, I would put it as the introy

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Speaker 3: to the pod. Yeah, and it was the cutest thing

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Speaker 3: I've ever seen in my life. How did I not

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Speaker 3: put two and two together that it was you? Oh

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Speaker 3: my gosh. Yeah, I already gifted it to her.

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Speaker 6: Oh, well, have another one.

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Speaker 3: We'll give away one on her behalf about that.

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Speaker 6: Yeah, that's lovely.

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Speaker 3: Alright, So back to the questions, because I'm not good

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Speaker 3: at keeping on track today. Do you guys currently invest

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Speaker 3: If so, how much and if not why not?

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Speaker 5: So I have been looking at investing for a little while,

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Speaker 5: and I do have both Raisen Spaceship. So there is

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Speaker 5: about five hundred dollars in each of those platforms. Then

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Speaker 5: we are looking once they get to a certain amount,

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Speaker 5: probably pulling that finance out and sticking them into a

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Speaker 5: portfolio that is a little bit more than just a

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Speaker 5: micro investing portfolio. And I will probably approach a financial

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Speaker 5: planner once we do need to do that.

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Speaker 3: Kelly, Yes, I do know someone. Next next question is

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Speaker 3: do you have any debts of any kind? If so,

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Speaker 3: what are they and if not, what do you feel

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Speaker 3: about debt.

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Speaker 5: I do have debt, So I have a help loan

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Speaker 5: or hex loan, and that is at just under seven

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Speaker 5: thousand dollars for last year, and that is a very

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Speaker 5: good chunk of my pay that is gone each week,

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Speaker 5: so that'll be paid off in pretty well no time.

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Speaker 5: And I've also got a credit card which has a

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Speaker 5: fifteen hundred dollars limit, and I think I owned twenty

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Speaker 5: four dollars on it at the moment.

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Speaker 3: You've really really spashed out there.

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Speaker 5: I think that that's a direct debit for life insurance,

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Speaker 5: to be honest.

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Speaker 3: So I think yeah, I'll allow that.

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Speaker 5: I'll definitely, I just have the insurance is direct debited

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Speaker 5: off the credit card and then as soon as I

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Speaker 5: see an amount that's owing, then I just transfer the

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Speaker 5: money back on there.

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Speaker 3: Yeah, that's smart. So do you have any good money

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Speaker 3: habits that you're especially proud of.

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Speaker 5: When I see money in my account towards the end

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Speaker 5: of the week, and or bills a page, food is purchased,

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Speaker 5: then that money pretty well just goes directly into savings,

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Speaker 5: or it goes into the emergency front and I tend

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Speaker 5: to if I have cash, which is pretty rare these days.

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Speaker 5: But if I do have cash, then whatever is left

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Speaker 5: in my wallet towards the end of the week all

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Speaker 5: goes into a money tin as well. So that's notes,

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Speaker 5: that's coins, whatever's there.

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Speaker 3: That stuff adds up so quickly. I find that my

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Speaker 3: partner still uses cash for stuff I really genuinely don't

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Speaker 3: know why. And there is this hole beside our front

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Speaker 3: door that he always puts spare coins in, and I've

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Speaker 3: started collecting it and putting it into money tin because

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Speaker 3: if I find it, it's mine. Right, That stuff adds up,

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Speaker 3: And maybe last year, just before we moved, I took

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Speaker 3: it down to NAB and tipped it into their life machine.

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Speaker 3: How much exciting there was like five hundred and eighty dollars.

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Speaker 3: It was more than a year. It had been sitting

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Speaker 3: in a house for five hundred bucks change a lose change,

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Speaker 3: and then I told him it was mine. He didn't agree,

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Speaker 3: but for debate.

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Speaker 5: Well, I was just going to go towards a couch.

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Speaker 5: So I'm really hoping that there's a bit more than

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Speaker 5: five hundred.

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Speaker 3: It sounds like you're probably better at it than I am,

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Speaker 3: because I'm literally scavenging dollar coins and twenty senses that

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Speaker 3: he had from lunch. So I think that maybe you're

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Speaker 3: a little bit savvier than we are. Back to questions,

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Speaker 3: what is your worst money habit.

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Speaker 5: I'm going to say it's probably one that's been heard before,

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Speaker 5: but I don't really spend money on myself because it

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Speaker 5: does feel guilty. Yeah, I'd say that that's probably my

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Speaker 5: worst is I do feel really guilty if I do

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Speaker 5: spend something on myself. My partner actually told me this

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Speaker 5: time he was home that I need to go and

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Speaker 5: buy some more undies and I said, no, I don't

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Speaker 5: need too, and he says, well, they've got holes in them.

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Speaker 3: Sorry on my legs.

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Speaker 5: Don't feel guilty about buying undies if they've got holes

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Speaker 5: in them.

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Speaker 4: I work at Kiss the radio station at the moment,

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Speaker 4: and we're giving away like lots of money, you know,

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Speaker 4: prizes like all radio stations do. And every time I

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Speaker 4: ask what are you going to do with the cash,

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Speaker 4: every single mum I speak to goes, oh the kids,

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Speaker 4: the kids, and it's sort of a I always ask, oh,

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Speaker 4: what about yourself? Do you want to buy yourself something?

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Speaker 4: And it's almost like not only were they not going

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Speaker 4: to do it, they hadn't even considered that. They go, oh,

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Speaker 4: would I spend it on other kids? That they'll want it,

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Speaker 4: They'll they'll do something.

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Speaker 6: V Why why is this It's normal?

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Speaker 3: I feel like being a mum changes your mentality. I'm

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Speaker 3: not a mum yet, and I just I obviously have

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Speaker 3: enough experience with clients who are parents, and I feel

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Speaker 3: like the second you have small humans to look after,

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Speaker 3: it brings you one a heap of joy because you

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Speaker 3: get to look after them and how great is that?

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Speaker 3: But two, you're responsible for these little lives, so you

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Speaker 3: feel like you should be looking after them before yourself.

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Speaker 6: Yeah is that?

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Speaker 5: Ow?

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Speaker 6: Does that sound about right for you?

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Speaker 5: Like?

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Speaker 6: Did you spend were you happy to spend on yourself

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Speaker 6: before you had kids.

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Speaker 5: That is exactly true. When you're alone, you don't technically

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Speaker 5: think about anybody else except for yourself or maybe a partner,

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Speaker 5: and you can slash out the cash however you want.

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Speaker 5: And then once you've got kids, well then there's a

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Speaker 5: whole new ballgame. It just becomes all about them.

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Speaker 3: So you're responsible for tiny humans and that kind of

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Speaker 3: weighs on you in a way. And I know it's

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Speaker 3: not a negative thing. I actually really love that people

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Speaker 3: are always thinking of their kids first, because there are

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Speaker 3: heaps of kids that don't get put first. So it's

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Speaker 3: really nice to hear that. But it's also like, ah,

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Speaker 3: you're still important, my friend, Like you still deserve you know,

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Speaker 3: new undies for example. But I do think that so

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Speaker 3: really common thing, and I think there are a lot of

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Speaker 3: people who are listening who are potentially mums or dads

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Speaker 3: are going to be like, oh, yeah, guilty.

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Speaker 4: Can I also just point out I found out today

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Speaker 4: prams costs like two grand Oh my gosh.

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Speaker 3: I didn't know how expensive they were. I think baby

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Speaker 3: is expensive. It's like weddings. My girlfriend's having a baby,

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Speaker 3: and yeah, insane, right learning curve? Can I add that

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Speaker 3: to the list of questions that we ask you. How

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Speaker 3: much was your pram?

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Speaker 6: Oh?

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Speaker 5: Which one?

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Speaker 3: Are there? Multiple?

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Speaker 6: Tell us childless podcasts host what we're in for? Please enlighten?

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Speaker 2: Oh.

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Speaker 5: The first one that I bought was I think it

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Speaker 5: was about three hundred dollars because I was able to

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Speaker 5: get at secondhand. And then I realized that it was

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Speaker 5: not a pram I could go running with though the

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Speaker 5: wheels would wobble, and I thought my child was going

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Speaker 5: to die.

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Speaker 6: So then I got yeah, I mean one of the

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Speaker 6: key features is not death.

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Speaker 5: So then I ended up getting a second pram that

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Speaker 5: was a running and that was about seven hundred dollars.

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Speaker 5: And then when I found out I was expecting a

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Speaker 5: second child, then you go up to the double prams

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Speaker 5: and that was over one thousand dollars.

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Speaker 3: Jeez, does that hurt to part with?

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Speaker 2: It?

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Speaker 5: Really does.

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Speaker 3: Prams and not exciting to buy.

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Speaker 5: No, they're not. And especially like cots and you know bastnets,

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Speaker 5: there's so.

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Speaker 3: Many things they need those tiny humans.

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Speaker 5: There is somment. If you have more than one child,

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Speaker 5: it's great because then you can reuse things, especially codes.

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Speaker 5: But for the first child, you're shelling out so much money.

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Speaker 4: Yeah, right, all right, we want to deep dive into

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Speaker 4: so much. But last question, and we're all being nodding

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Speaker 4: our heads, being very impressed with what we're hearing. But

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Speaker 4: in your mind, what grade would you give yourself and

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Speaker 4: your money habits.

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Speaker 5: Now? I would probably say maybe a B plus. There

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Speaker 5: are areas that could be improved, especially with the budgeting

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Speaker 5: side of it, because I probably don't have everything budgeted for,

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Speaker 5: so it's a bit of a heart palpitation moment when

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Speaker 5: unexpected bills do come in and we're sort of scrambling

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Speaker 5: away for those last pennies. But I would say to

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Speaker 5: get to a higher grade, it would be speaking to

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Speaker 5: a financial planner about investing.

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Speaker 3: Okay, so jumping straight back in, I actually have a

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Speaker 3: couple of perfect questions that I want to chat with

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Speaker 3: you at that But the first one is I'd love

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Speaker 3: to know a little bit more about why FIFO. So

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Speaker 3: obviously FIFO involves a fair bit of sacrifice, and from

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Speaker 3: the sound of your money diary, you are actually putting

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Speaker 3: a lot into this because you don't have a partner

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Speaker 3: at home twenty four to seven. You know what may

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Speaker 3: you and your partner who decided that FIFO was the

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Speaker 3: right thing for your family.

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Speaker 5: My partner was actually doing FIFO when we met, so

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Speaker 5: we haven't really known anything different except for when our

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Speaker 5: first child came along. He decided that he was going

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Speaker 5: to stay in Perth to be able to do just

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Speaker 5: a normal job, which was a huge pay cut, but

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Speaker 5: we were able to sustain that, and after almost a

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Speaker 5: year of doing that, he decided that the money was

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Speaker 5: better doving fi FO And we've just gone back to

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Speaker 5: that and not known anything since.

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Speaker 6: So and what was that conversation?

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Speaker 4: Like, So, I've lived I've lived in Perth and wa

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Speaker 4: a fair bit and fi FO is really common in

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Speaker 4: every friendship group. There's a couple of people and it's

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Speaker 4: a really normal part of life. But tell me that

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Speaker 4: conversation when oh my god, we're expecting a kid. This

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Speaker 4: is so exciting you don't want to miss out. But

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Speaker 4: you're earning this great money. So how you know, was

385
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Speaker 4: it an easy conversation to have or was it a

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Speaker 4: quick decision or yeah, how did that sort of come about?

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Speaker 5: It's really not an easy decision. It's not a conversation

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Speaker 5: that you want to have. But for us, it was

389
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Speaker 5: sitting down and discussing all of the financials and where

390
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Speaker 5: we were pulling the money from for bills and knowing

391
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Speaker 5: that we wanted to get out of the current house

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Speaker 5: that we're in because we were just outgrowing it. It's

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Speaker 5: too small for us. So the solution to that, where

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Speaker 5: he doesn't have any qualifications to be able to sustain

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Speaker 5: a higher income, was to go back to five fho work.

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Speaker 5: So now he's building up qualifications while he is doing

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Speaker 5: this fly and flyout job. And it is our long

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Speaker 5: term goal that he will be able to come back

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Speaker 5: and pursue another role within an area that we're happy

400
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Speaker 5: with to still sustain some of that income.

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Speaker 6: And what is a swing the right word? What swing

402
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Speaker 6: is he doing at the moment?

403
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Speaker 5: Yes, so generally his company does a four week on,

404
00:19:58,840 --> 00:20:00,480
Speaker 5: two week off swing, so you.

405
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Speaker 6: Won't see him for four weeks a month mostly. Yes,

406
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Speaker 6: Oh my gosh.

407
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Speaker 3: And you've got two small children that you get out

408
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Speaker 3: of the house by six actually so impressed. Honestly, one is.

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Speaker 5: Eighteen months and one is four, so it is quite

410
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Speaker 5: a battle to get them up and get them out

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Speaker 5: of the house.

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Speaker 4: With the eighteen month a year old, Like, I feel

413
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Speaker 4: like it sounds like cliche to be like they grow

414
00:20:23,040 --> 00:20:25,439
Speaker 4: up so fast, but like they would be a different

415
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Speaker 4: person four weeks later, right, Like they'd changed so much.

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Speaker 5: Yeah, so each time he would come back from a swing,

417
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Speaker 5: she would be absolutely completely different, and she'd take twenty

418
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Speaker 5: four to forty eight hours just to warm back up

419
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Speaker 5: to him. She didn't know who he was.

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Speaker 6: Oh that would kill me, break me. Yeah, that I'd

421
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Speaker 6: be finished.

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Speaker 3: I mean or I feel like that's such true, Like

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Speaker 3: you guys are really setting yourselves up for a great

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Speaker 3: financial future, and it sounds like you're so on top

425
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Speaker 3: of it, Like genuinely, I'm so impressed and something that

426
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Speaker 3: we get a lot she's on the money. It's like,

427
00:20:55,520 --> 00:20:58,400
Speaker 3: oh my gosh, can you do more relatable money stories,

428
00:20:58,440 --> 00:21:00,600
Speaker 3: like you know with lesser incomes. It's just like this

429
00:21:00,760 --> 00:21:03,480
Speaker 3: is actually so common. There are so many people that

430
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Speaker 3: are really sacrificing their lifestyles and their families to put

431
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Speaker 3: themselves ahead financially. Like I really want to celebrate that.

432
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Speaker 3: I want these people on our podcast so we can

433
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Speaker 3: go wow, like how incredible, Like these people are really

434
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Speaker 3: working for it, not that anybody else isn't, but I

435
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Speaker 3: just feel like, how cool is that? Yeah, it's so

436
00:21:23,320 --> 00:21:25,720
Speaker 3: amazing to hear and this is Yeah, it's a unique

437
00:21:25,720 --> 00:21:29,200
Speaker 3: story for money. Does we haven't really heard anything like this? No? No,

438
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Speaker 3: So I want to be a little bit pervy. I

439
00:21:31,800 --> 00:21:34,880
Speaker 3: know you mentioned that you were in a bad relationship before.

440
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Speaker 3: Was that a financially would you say that's a financially

441
00:21:38,320 --> 00:21:41,280
Speaker 3: abusive relationship prior to meeting your current partner?

442
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Speaker 5: It was abusive and all sense of the words, including financially,

443
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Speaker 5: and that pretty much made me forgo family, friends, and

444
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Speaker 5: I ended up building a house or putting together a

445
00:22:00,080 --> 00:22:03,240
Speaker 5: posit and building a house with this person, all for

446
00:22:03,320 --> 00:22:08,960
Speaker 5: me to basically lose everything. So it definitely was the

447
00:22:09,000 --> 00:22:10,320
Speaker 5: thing that broke me the most, I.

448
00:22:10,359 --> 00:22:13,600
Speaker 3: Think, And it sounds like you're in an epic position now,

449
00:22:13,720 --> 00:22:16,280
Speaker 3: but I know that people listening there are going to

450
00:22:16,280 --> 00:22:18,919
Speaker 3: be a few who are in this situation. Like what

451
00:22:19,119 --> 00:22:20,760
Speaker 3: was your trigger to go? You know what, I can't

452
00:22:20,760 --> 00:22:23,320
Speaker 3: do this anymore, Like this is not the relationship for

453
00:22:23,359 --> 00:22:24,280
Speaker 3: me and walking away.

454
00:22:26,880 --> 00:22:31,560
Speaker 5: It was pressure to have children, and I finally found

455
00:22:31,560 --> 00:22:33,800
Speaker 5: the courage to stand up and say that I didn't

456
00:22:33,800 --> 00:22:37,640
Speaker 5: want to have children with this person, and that is

457
00:22:37,880 --> 00:22:41,400
Speaker 5: the stick that broke the camel's back. So from there

458
00:22:41,480 --> 00:22:46,040
Speaker 5: it got very messy and I needed to just escape.

459
00:22:46,119 --> 00:22:49,480
Speaker 5: And I wish I had known about emergency funds or

460
00:22:50,560 --> 00:22:53,359
Speaker 5: taking photocopies of things or photos of things, because that

461
00:22:53,400 --> 00:22:55,400
Speaker 5: would have helped me out so much in the end.

462
00:22:55,920 --> 00:22:56,120
Speaker 6: Yeah.

463
00:22:56,720 --> 00:23:00,239
Speaker 3: So, and that's why I did that episode on financially use,

464
00:23:00,280 --> 00:23:02,919
Speaker 3: because people just don't think about these things because we

465
00:23:03,040 --> 00:23:04,840
Speaker 3: just don't know that that's what we're going to.

466
00:23:04,880 --> 00:23:07,280
Speaker 6: Need, or you don't think it's that it's going to

467
00:23:07,320 --> 00:23:07,639
Speaker 6: come to that.

468
00:23:07,920 --> 00:23:10,840
Speaker 3: No one does. And when it gets to that stage,

469
00:23:11,119 --> 00:23:14,479
Speaker 3: there's such a level of control that exists that you

470
00:23:14,520 --> 00:23:16,760
Speaker 3: can't even ask them or hey, can I have copies

471
00:23:16,760 --> 00:23:18,439
Speaker 3: of this? They won't give it to you, Like you

472
00:23:18,600 --> 00:23:22,760
Speaker 3: end up completely helpless. So yeah, I've had so many

473
00:23:22,800 --> 00:23:25,399
Speaker 3: messages from women being like, I really am grateful that

474
00:23:25,440 --> 00:23:27,640
Speaker 3: I've listened to that episode because I've set it all up.

475
00:23:27,760 --> 00:23:29,720
Speaker 3: I'm not ready to leave, but I will and I'm

476
00:23:29,760 --> 00:23:31,919
Speaker 3: ready for that. And I just, oh, it breaks my

477
00:23:31,960 --> 00:23:33,080
Speaker 3: heart that they're in positions.

478
00:23:33,280 --> 00:23:33,560
Speaker 6: Yeah.

479
00:23:33,600 --> 00:23:34,760
Speaker 4: And I don't know if this is a weird thing

480
00:23:34,800 --> 00:23:37,280
Speaker 4: to say, but from all the stories we've heard, the

481
00:23:37,560 --> 00:23:40,879
Speaker 4: overarching theme is you just feel like you're trapped and

482
00:23:40,920 --> 00:23:43,040
Speaker 4: it's never going to change. And I think to see

483
00:23:43,080 --> 00:23:45,439
Speaker 4: the position that today's money diaries in is maybe just

484
00:23:45,520 --> 00:23:47,199
Speaker 4: some sort of light at the end of the tunnel

485
00:23:47,200 --> 00:23:49,800
Speaker 4: that some way, somehow, you know it doesn't have to

486
00:23:49,880 --> 00:23:50,160
Speaker 4: be like.

487
00:23:50,119 --> 00:23:52,360
Speaker 3: That forever you've turned into it custler.

488
00:23:52,600 --> 00:23:56,080
Speaker 4: Yeah, and just on that, I did make a note

489
00:23:56,080 --> 00:23:58,240
Speaker 4: before when we said, oh, who takes care of the money?

490
00:23:58,280 --> 00:24:00,000
Speaker 4: You and your partner on the same page. There's almost

491
00:24:00,040 --> 00:24:02,200
Speaker 4: like a springing you step, and your voice was very

492
00:24:02,200 --> 00:24:04,639
Speaker 4: confident and proud to say, oh, I take care of

493
00:24:04,640 --> 00:24:04,960
Speaker 4: the money.

494
00:24:05,040 --> 00:24:07,879
Speaker 6: I take care all that. So I guess.

495
00:24:07,640 --> 00:24:10,760
Speaker 4: Compared to the previous relationship, does it actually give you

496
00:24:10,960 --> 00:24:13,400
Speaker 4: a confidence booster and something you're proud of that You're like, yeah,

497
00:24:13,480 --> 00:24:15,640
Speaker 4: I'm in charge of the money, I know where it's going.

498
00:24:15,680 --> 00:24:16,960
Speaker 6: I'm in charge, you know, I'm taking care of it.

499
00:24:16,960 --> 00:24:17,880
Speaker 6: Does that feel really good?

500
00:24:18,880 --> 00:24:21,439
Speaker 5: It does? Actually, I mean it gives me a lot

501
00:24:21,440 --> 00:24:24,960
Speaker 5: of confidence in our relationship as well, but more so,

502
00:24:25,240 --> 00:24:27,840
Speaker 5: it just it makes me feel proud that we're actually

503
00:24:27,880 --> 00:24:29,760
Speaker 5: accomplishing something and we're doing it together.

504
00:24:30,160 --> 00:24:31,119
Speaker 3: It sounds like you're routine.

505
00:24:31,280 --> 00:24:33,240
Speaker 6: Yeah, it really does it? Really that really sounds cool.

506
00:24:34,000 --> 00:24:36,520
Speaker 4: You mentioned like when you were younger that there wasn't

507
00:24:36,520 --> 00:24:39,280
Speaker 4: a heap of spare money from your folks and family

508
00:24:39,320 --> 00:24:40,960
Speaker 4: and stuff, and you kind of had to sort of

509
00:24:41,000 --> 00:24:44,879
Speaker 4: scrap for yourself. Is that, obviously, whilst not ideal, do

510
00:24:44,960 --> 00:24:47,000
Speaker 4: you think that kind of taught you some you know,

511
00:24:47,040 --> 00:24:49,199
Speaker 4: you seem to have this hustle and grind about you.

512
00:24:49,240 --> 00:24:50,840
Speaker 4: Do you think you kind of learned that the hard way?

513
00:24:50,920 --> 00:24:51,479
Speaker 6: So to speak.

514
00:24:52,280 --> 00:24:58,200
Speaker 5: Absolutely, I believe that finance really should be taught in schools,

515
00:24:58,200 --> 00:25:00,560
Speaker 5: but it's not t shirt.

516
00:25:00,640 --> 00:25:03,760
Speaker 3: I mean, I'm preaching to the advantage.

517
00:25:03,240 --> 00:25:08,879
Speaker 5: Here because it's not I guess, figuring out the hard

518
00:25:08,880 --> 00:25:11,000
Speaker 5: way that you needed to be able to actually save

519
00:25:11,080 --> 00:25:13,560
Speaker 5: money to afford what it is that you're wanting or

520
00:25:13,600 --> 00:25:16,320
Speaker 5: to pay your bills. Whereas a lot of the people

521
00:25:16,320 --> 00:25:19,720
Speaker 5: that I went to school with, they were given money,

522
00:25:19,760 --> 00:25:22,919
Speaker 5: given opportunities, they don't know how hard they need to

523
00:25:23,000 --> 00:25:25,800
Speaker 5: work for it in the future. So I feel like

524
00:25:25,840 --> 00:25:28,480
Speaker 5: I've probably come out on top in comparison to a

525
00:25:28,520 --> 00:25:30,439
Speaker 5: lot of the people that I either went to school

526
00:25:30,440 --> 00:25:31,560
Speaker 5: with or newest friends.

527
00:25:31,880 --> 00:25:36,000
Speaker 4: So I did well what twenty six money diaries last year,

528
00:25:36,600 --> 00:25:40,520
Speaker 4: recording them and stuff, and I often found it was

529
00:25:40,520 --> 00:25:43,760
Speaker 4: the people that had a slightly poorer upbringing or a

530
00:25:43,800 --> 00:25:46,360
Speaker 4: lot of people where their parents were from overseas. It's

531
00:25:46,440 --> 00:25:49,800
Speaker 4: like it's a massive disadvantage, but it actually turns out

532
00:25:49,840 --> 00:25:53,040
Speaker 4: to be this great. I mean sounds condescending, say big advantage,

533
00:25:53,040 --> 00:25:55,399
Speaker 4: but the mindset they have and the value in a

534
00:25:55,440 --> 00:25:56,880
Speaker 4: dollar and they're not going to waste it and they're

535
00:25:56,880 --> 00:25:59,159
Speaker 4: going to work really hard. It was a really strong

536
00:25:59,200 --> 00:26:02,560
Speaker 4: theme that throughout all of the Money Dives did last year's.

537
00:26:02,440 --> 00:26:06,359
Speaker 5: Was really absolutely when you've got no money, you definitely

538
00:26:06,520 --> 00:26:09,960
Speaker 5: value what it is meant to do, because I mean,

539
00:26:10,800 --> 00:26:14,680
Speaker 5: we don't have thousands or hundreds to spend. We've got

540
00:26:14,680 --> 00:26:16,560
Speaker 5: to put the effort in to be able to earn that,

541
00:26:17,119 --> 00:26:19,000
Speaker 5: and you really value where it's going.

542
00:26:19,720 --> 00:26:22,120
Speaker 3: And how is that shaped how you're teaching your kids

543
00:26:22,160 --> 00:26:22,760
Speaker 3: about money?

544
00:26:24,240 --> 00:26:26,720
Speaker 5: Well, she's on the money. It is definitely shaping one

545
00:26:26,720 --> 00:26:27,320
Speaker 5: of my children.

546
00:26:28,400 --> 00:26:31,800
Speaker 3: I can't tell you how excited I am about that.

547
00:26:31,800 --> 00:26:35,560
Speaker 3: That that actually made my week. I was so excited.

548
00:26:35,760 --> 00:26:38,720
Speaker 3: And when you had sent that through, I hadn't checked

549
00:26:38,760 --> 00:26:42,479
Speaker 3: that inbox yet. I literally ran across the office and

550
00:26:42,520 --> 00:26:44,200
Speaker 3: got everybody in the office. I was like, I have

551
00:26:44,320 --> 00:26:46,960
Speaker 3: the best thing you've ever heard, and made them come

552
00:26:47,080 --> 00:26:49,280
Speaker 3: into the office I was in and listen to that.

553
00:26:49,359 --> 00:26:51,560
Speaker 3: I was like, listen to these this is the best thing.

554
00:26:52,440 --> 00:26:54,640
Speaker 3: Genuinely that made my week. Thank you.

555
00:26:55,160 --> 00:26:56,840
Speaker 5: She was so excited to record that.

556
00:26:56,960 --> 00:27:00,600
Speaker 3: Though up and down she's a future podcaster.

557
00:27:01,000 --> 00:27:05,960
Speaker 5: I'm telling you, no, it is. It is really shaping

558
00:27:06,280 --> 00:27:10,880
Speaker 5: her mindset because I mean I has bank accounts set

559
00:27:10,960 --> 00:27:12,760
Speaker 5: up for both of them, and five dollars a week

560
00:27:12,880 --> 00:27:15,600
Speaker 5: goes from my account into each of them, so they

561
00:27:15,640 --> 00:27:19,359
Speaker 5: are aware that they get money into their account, which,

562
00:27:19,560 --> 00:27:22,640
Speaker 5: with some bonus interest, will probably help them to either

563
00:27:22,640 --> 00:27:25,399
Speaker 5: buy a car or a house deposit in the future.

564
00:27:25,640 --> 00:27:27,560
Speaker 4: I was going to say it sounds cute five dollars,

565
00:27:27,640 --> 00:27:30,520
Speaker 4: but by the time that compounds over their life and

566
00:27:30,560 --> 00:27:32,440
Speaker 4: how young they are, that it's going to be a

567
00:27:32,480 --> 00:27:35,200
Speaker 4: really nice little chunk of cash when they're old enough

568
00:27:35,200 --> 00:27:36,680
Speaker 4: to do something fun with it. So that's a really

569
00:27:36,680 --> 00:27:37,200
Speaker 4: cool idea.

570
00:27:37,280 --> 00:27:40,720
Speaker 5: Yeah, and I don't notice it missing from the account either,

571
00:27:40,840 --> 00:27:42,360
Speaker 5: so it's pretty easy for us.

572
00:27:42,720 --> 00:27:45,000
Speaker 3: How did you come up with five dollars? By the way,

573
00:27:45,160 --> 00:27:49,760
Speaker 3: like I feel like pocket money these days, everyone has

574
00:27:49,800 --> 00:27:52,280
Speaker 3: an opinion on it. How do you pick what you

575
00:27:52,320 --> 00:27:53,919
Speaker 3: give your children as pocket money?

576
00:27:54,800 --> 00:27:58,720
Speaker 5: So when I set up her account. It was when

577
00:27:58,760 --> 00:28:01,760
Speaker 5: my husband was working in Perth and we were both

578
00:28:01,800 --> 00:28:06,280
Speaker 5: earning a pretty low wage, and it was just the

579
00:28:06,320 --> 00:28:09,600
Speaker 5: amount of money that I thought would be okay being

580
00:28:09,640 --> 00:28:12,040
Speaker 5: debited from our account each week where we're not going

581
00:28:12,080 --> 00:28:16,199
Speaker 5: into an overdraft. So that is where I came up

582
00:28:16,240 --> 00:28:19,560
Speaker 5: with the five dollars. And then once the second child

583
00:28:19,600 --> 00:28:22,720
Speaker 5: came along, I thought, okay, well, ten dollars all up

584
00:28:22,920 --> 00:28:25,760
Speaker 5: is not a big expense missing from our account each week.

585
00:28:26,600 --> 00:28:30,360
Speaker 5: And I did the numbers, crunch the numbers until they're

586
00:28:30,600 --> 00:28:34,520
Speaker 5: sixteen years to be able to buy a car or Yeah,

587
00:28:34,600 --> 00:28:37,119
Speaker 5: I thought it a pretty good chunk of change to

588
00:28:37,200 --> 00:28:40,120
Speaker 5: put towards a decent car for them in the future.

589
00:28:40,520 --> 00:28:44,080
Speaker 3: Absolutely absolutely. I think it's like nearly like five or

590
00:28:44,120 --> 00:28:48,280
Speaker 3: six grand each, yeah, eighteen or something, and that's before

591
00:28:48,480 --> 00:28:51,080
Speaker 3: compound interest in Yeah, like if that was invested, that

592
00:28:51,120 --> 00:28:53,240
Speaker 3: would be more. But like I think, if it's savings

593
00:28:53,280 --> 00:28:57,000
Speaker 3: to go towards something, how good. That makes me so excited.

594
00:28:57,360 --> 00:29:00,360
Speaker 3: When I was younger, I remember my parents kept related

595
00:29:00,360 --> 00:29:03,080
Speaker 3: and this totally wouldn't buy you anything nowadays, but my

596
00:29:03,200 --> 00:29:06,480
Speaker 3: parents gave you fifty cents for every year old you were.

597
00:29:07,080 --> 00:29:08,960
Speaker 3: So if I was twelve, I got six dollars a week.

598
00:29:09,640 --> 00:29:11,840
Speaker 3: Yeah right, And if I was thirteen, I'd get six

599
00:29:11,880 --> 00:29:13,240
Speaker 3: dollars fifty and that.

600
00:29:13,320 --> 00:29:14,160
Speaker 5: Was really cute.

601
00:29:14,200 --> 00:29:18,120
Speaker 3: That was how much I got. And my salary review

602
00:29:18,920 --> 00:29:20,720
Speaker 3: every year on my birthday and I would get my

603
00:29:20,880 --> 00:29:22,080
Speaker 3: extra fifty cents a week.

604
00:29:22,120 --> 00:29:23,200
Speaker 6: Guys, you've done a good job.

605
00:29:24,040 --> 00:29:28,080
Speaker 3: You have turned one year older. Congratulations on your tenure.

606
00:29:28,360 --> 00:29:29,840
Speaker 3: Sore at the Impire.

607
00:29:32,520 --> 00:29:34,200
Speaker 5: I'd say, once they're at an age where they can

608
00:29:34,200 --> 00:29:36,120
Speaker 5: start doing chores around the house, that five dollars is

609
00:29:36,240 --> 00:29:39,120
Speaker 5: definitely going to depend as to whether they do those

610
00:29:39,200 --> 00:29:39,800
Speaker 5: chores or not.

611
00:29:40,200 --> 00:29:41,160
Speaker 6: Yeap, totally.

612
00:29:41,280 --> 00:29:43,720
Speaker 4: So how much you're earning in a week now though,

613
00:29:43,840 --> 00:29:45,400
Speaker 4: V So the fifty cents you're on?

614
00:29:45,480 --> 00:29:47,080
Speaker 6: What thirty five dollars?

615
00:29:47,240 --> 00:29:51,600
Speaker 3: Yeah, I'm now on at least thirty five dollars so yeah, yeah,

616
00:29:51,760 --> 00:29:54,560
Speaker 3: no worth than attacks, yeah exactly, guys, it is worth it.

617
00:29:54,640 --> 00:29:58,000
Speaker 3: Stick it out the long term, all right? Does anyone

618
00:29:58,000 --> 00:29:59,840
Speaker 3: in the shoes on the Money team have any other question?

619
00:30:00,840 --> 00:30:03,360
Speaker 4: I just want to know, how's it been? How did

620
00:30:03,400 --> 00:30:06,560
Speaker 4: you survive in Western Australia doing five days lockdown?

621
00:30:06,600 --> 00:30:07,400
Speaker 6: You poor things?

622
00:30:09,120 --> 00:30:11,479
Speaker 5: Look for me and my job, it was no different

623
00:30:11,680 --> 00:30:14,120
Speaker 5: to every other day, we still got up, we still

624
00:30:14,280 --> 00:30:18,280
Speaker 5: went to daycare, and I was in the office as

625
00:30:18,440 --> 00:30:20,760
Speaker 5: required because we were apparently essential workers.

626
00:30:20,840 --> 00:30:24,959
Speaker 6: Sash tag pray for perfect all right.

627
00:30:25,040 --> 00:30:27,360
Speaker 3: Well that with that, I think it is absolutely time

628
00:30:27,440 --> 00:30:30,560
Speaker 3: to wrap this diary up. Thank you so so much

629
00:30:30,600 --> 00:30:33,360
Speaker 3: for joining us. Honestly, I'd loved learning so much about

630
00:30:33,360 --> 00:30:35,960
Speaker 3: your journey and I'm really grateful that you've wanted to

631
00:30:36,000 --> 00:30:37,200
Speaker 3: share that with our community.

632
00:30:37,920 --> 00:30:40,680
Speaker 5: Oh, thank you for having me. I'm so excited to

633
00:30:40,720 --> 00:30:41,520
Speaker 5: be able to share it.

634
00:30:41,880 --> 00:30:43,760
Speaker 4: And if you want to hear the Money Diary's daughter

635
00:30:43,840 --> 00:30:45,920
Speaker 4: one more time, this is what she sounds like.

636
00:30:47,360 --> 00:30:51,160
Speaker 2: Hello and welcome to She's and the money pas for

637
00:30:51,440 --> 00:30:55,960
Speaker 2: people who are freed them my Joseah King and Gach

638
00:30:56,360 --> 00:31:03,400
Speaker 2: and jez did He I think and Tenoy didine.

639
00:31:05,080 --> 00:31:06,960
Speaker 3: Just before we head off, we'd like to acknowledge and

640
00:31:07,000 --> 00:31:10,480
Speaker 3: pay respect to Australian's Aboriginal and torrest Rate islander peoples,

641
00:31:10,720 --> 00:31:14,200
Speaker 3: the traditional custodians of our lands, waterways and skies all

642
00:31:14,240 --> 00:31:17,080
Speaker 3: across Australia. We thank you for sharing and for caring

643
00:31:17,120 --> 00:31:19,479
Speaker 3: on the land which we are able to learn. We

644
00:31:19,520 --> 00:31:21,720
Speaker 3: pay our respects to elders past and present, and we

645
00:31:21,760 --> 00:31:24,920
Speaker 3: share our friendship and our kindness. The advice shared on

646
00:31:25,040 --> 00:31:27,640
Speaker 3: Sheese on the Money Money Diaries is generally nature and

647
00:31:27,680 --> 00:31:31,240
Speaker 3: does not consider your individual circumstances. She's on the Money

648
00:31:31,280 --> 00:31:34,560
Speaker 3: exists purely for educational purposes and should not re relied

649
00:31:34,640 --> 00:31:37,200
Speaker 3: upon to make an investment or a financial decision. We

650
00:31:37,280 --> 00:31:40,520
Speaker 3: do promise I am actually an authorized representative of Australia

651
00:31:40,520 --> 00:31:44,600
Speaker 3: Pacific Funds Management Proprietary Limited ABN three four one three

652
00:31:44,640 --> 00:31:48,000
Speaker 3: two four six three two five seven if SAIL three

653
00:31:48,080 --> 00:31:51,120
Speaker 3: three nine one five one. And thank you again as

654
00:31:51,160 --> 00:31:54,760
Speaker 3: always to our producer angels Beck and Ryan for bringing

655
00:31:54,760 --> 00:31:57,440
Speaker 3: this all together and making us sound super shiny each

656
00:31:57,440 --> 00:32:01,400
Speaker 3: in every single week. See you next week, Guy gos