1 00:00:00,680 --> 00:00:04,920 Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr 2 00:00:04,960 --> 00:00:08,680 Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before 3 00:00:08,680 --> 00:00:11,160 Speaker 1: we get started on She's on the Money podcast, I 4 00:00:11,160 --> 00:00:14,319 Speaker 1: would like to acknowledge the traditional custodians of the land 5 00:00:14,400 --> 00:00:17,680 Speaker 1: of which this podcast is recorded on a wondery country, 6 00:00:18,120 --> 00:00:22,240 Speaker 1: acknowledging the elders, the ancestors and the next generation coming 7 00:00:22,320 --> 00:00:26,960 Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing 8 00:00:27,080 --> 00:00:30,120 Speaker 1: and the storytelling of you to make a difference for 9 00:00:30,240 --> 00:00:32,640 Speaker 1: today and lasting impact for tomorrow. 10 00:00:33,320 --> 00:00:34,120 Speaker 2: Let's get into it. 11 00:00:34,760 --> 00:00:38,920 Speaker 3: She's on the Money, She's on the Money. 12 00:00:57,760 --> 00:01:01,240 Speaker 2: Hello, and welcome to She's on the Money the podcast. 13 00:01:01,040 --> 00:01:04,560 Speaker 4: Millennials who want financial freedom. Welcome back to another one 14 00:01:04,600 --> 00:01:06,480 Speaker 4: of our money diaries where we get to talk to 15 00:01:06,480 --> 00:01:09,160 Speaker 4: one of our incredible She's on the Money community members 16 00:01:09,240 --> 00:01:12,319 Speaker 4: all about their money story. Let's jump straight into it, 17 00:01:12,360 --> 00:01:14,280 Speaker 4: because this week I got a message and it went 18 00:01:14,400 --> 00:01:18,520 Speaker 4: like this, Hi, Victoria, my story is a rollercoaster. I'm 19 00:01:18,560 --> 00:01:21,640 Speaker 4: one of getting through six years of financial coercion in 20 00:01:21,680 --> 00:01:25,200 Speaker 4: a relationship. I've recovered a sixty five thousand dollar car 21 00:01:25,319 --> 00:01:28,240 Speaker 4: debt and a forty thousand dollar personal loan, both in 22 00:01:28,319 --> 00:01:29,000 Speaker 4: my name. 23 00:01:28,880 --> 00:01:29,679 Speaker 2: Due to my ex. 24 00:01:30,160 --> 00:01:32,640 Speaker 4: I have two kids with my new husband, but this 25 00:01:32,720 --> 00:01:36,360 Speaker 4: relationship has recently broken down. I left my full time 26 00:01:36,440 --> 00:01:39,080 Speaker 4: salary to start a business in December twenty twenty one 27 00:01:39,120 --> 00:01:42,399 Speaker 4: to support kids, which was tricky timing, but I'm now 28 00:01:42,440 --> 00:01:45,360 Speaker 4: on my way back. What a journey it has been, 29 00:01:45,880 --> 00:01:48,920 Speaker 4: Money Diarist, Welcome to the show. I'm so excited to 30 00:01:49,000 --> 00:01:49,920 Speaker 4: learn more about you. 31 00:01:50,320 --> 00:01:51,520 Speaker 5: Thank you for having me. 32 00:01:51,880 --> 00:01:53,640 Speaker 4: Oh my gosh, I feel like there's just so many 33 00:01:53,720 --> 00:01:56,600 Speaker 4: questions I have, but we'll dive in with the first question. 34 00:01:56,720 --> 00:01:59,720 Speaker 4: I always ask whitches money darist, what grade would you 35 00:01:59,720 --> 00:02:02,000 Speaker 4: give you your money habits from an AA through to 36 00:02:02,120 --> 00:02:04,720 Speaker 4: an F. If I asked you to give them a grade. 37 00:02:04,360 --> 00:02:09,040 Speaker 3: I would say a C right in the middle, because 38 00:02:10,320 --> 00:02:12,800 Speaker 3: there has been so much change and I feel like 39 00:02:12,840 --> 00:02:15,760 Speaker 3: I haven't quite gotten my decks in a room yet, 40 00:02:15,840 --> 00:02:17,000 Speaker 3: but I feel like I'm on. 41 00:02:17,000 --> 00:02:17,760 Speaker 5: The way to it. 42 00:02:18,040 --> 00:02:20,480 Speaker 2: I love this. Let's learn a little bit more about it. 43 00:02:20,600 --> 00:02:22,160 Speaker 2: Let's take it all the way back. 44 00:02:22,000 --> 00:02:24,720 Speaker 4: Money dis Can you tell me a little bit more 45 00:02:24,919 --> 00:02:26,480 Speaker 4: about your money story? 46 00:02:26,520 --> 00:02:26,840 Speaker 5: Cool? 47 00:02:27,040 --> 00:02:30,920 Speaker 3: So my ex and I were engaged, We're in a 48 00:02:30,960 --> 00:02:38,440 Speaker 3: relationship from twenty thirteen to twenty nineteen, and long story short, yeah, 49 00:02:38,520 --> 00:02:43,560 Speaker 3: lots of financial coercion and just compulsive lying about money. 50 00:02:43,560 --> 00:02:48,399 Speaker 3: And I always had this uneasy feeling like why is money. 51 00:02:48,120 --> 00:02:51,320 Speaker 5: Always a conversation? Where is the money going? 52 00:02:52,600 --> 00:02:56,040 Speaker 3: Like from what he's telling me to what I'm actually seeing, 53 00:02:56,080 --> 00:03:00,720 Speaker 3: it doesn't add up. And we will working in the 54 00:03:00,960 --> 00:03:06,840 Speaker 3: sporting fitness industry, and we set up a business within 55 00:03:06,880 --> 00:03:09,520 Speaker 3: a business, and for that we needed to buy a 56 00:03:09,560 --> 00:03:12,119 Speaker 3: new equipment and we wanted to go on a holiday. 57 00:03:12,400 --> 00:03:16,480 Speaker 3: So for some reason, I was like, yeah, we'll take 58 00:03:16,520 --> 00:03:19,560 Speaker 3: out a personal loan of forty thousand dollars in my name. 59 00:03:19,639 --> 00:03:22,760 Speaker 3: That's fine because you can't get approved for one because 60 00:03:22,919 --> 00:03:25,320 Speaker 3: within the last I think it was like a five 61 00:03:25,440 --> 00:03:30,880 Speaker 3: or seven year period, he had claimed bankruptcy from another business, which, yes, 62 00:03:30,960 --> 00:03:33,000 Speaker 3: that's a red flag that I didn't take notice of. 63 00:03:33,480 --> 00:03:35,200 Speaker 4: But that's okay, because when you're in love and you 64 00:03:35,240 --> 00:03:39,400 Speaker 4: trust someone, you immediately go no, let's make this happen totally. 65 00:03:39,560 --> 00:03:42,480 Speaker 3: I was like, this is my forever person. I will 66 00:03:42,480 --> 00:03:47,360 Speaker 3: support you whatever exactly, Oh, forty thousand dollars personal loan. 67 00:03:47,680 --> 00:03:51,800 Speaker 3: And he also needed a new count but again couldn't 68 00:03:51,800 --> 00:03:54,080 Speaker 3: get a loan because YadA YadA. 69 00:03:54,840 --> 00:03:57,160 Speaker 5: So we were like, yep, we want to start. 70 00:03:56,960 --> 00:04:01,240 Speaker 3: A family, let's get like a full drysuv thing. 71 00:04:01,560 --> 00:04:04,080 Speaker 5: And so yeah, I can totally take out a. 72 00:04:04,040 --> 00:04:07,520 Speaker 3: Sixty five thousand dollars car loan in my name and 73 00:04:07,720 --> 00:04:12,360 Speaker 3: run it through my business. So yeah, he was paying 74 00:04:12,360 --> 00:04:16,480 Speaker 3: the repayments, but I would often get calls and emails 75 00:04:16,520 --> 00:04:19,840 Speaker 3: and text messages saying your repayment's like, your repayment's late, 76 00:04:20,200 --> 00:04:23,120 Speaker 3: and I'd be like, just pay it on time. It's 77 00:04:23,160 --> 00:04:26,520 Speaker 3: not that hard, and that just became a bit of 78 00:04:26,560 --> 00:04:29,119 Speaker 3: an issue and all these red flags from the state. 79 00:04:29,560 --> 00:04:32,239 Speaker 3: So that's my number one thing is maybe just don't 80 00:04:32,279 --> 00:04:34,920 Speaker 3: take out over one hundred thousand dollars worth of loans 81 00:04:34,920 --> 00:04:36,240 Speaker 3: in your name for someone else. 82 00:04:36,880 --> 00:04:37,080 Speaker 5: Yeah. 83 00:04:37,200 --> 00:04:39,560 Speaker 4: Look, it's really challenging though, because I can see how 84 00:04:39,560 --> 00:04:41,400 Speaker 4: it would have happened, and I think a lot of 85 00:04:41,400 --> 00:04:43,799 Speaker 4: people might jump to the conclusion and well, that's so silly. 86 00:04:43,839 --> 00:04:45,599 Speaker 2: I can't believe you do that. Don't do it. 87 00:04:45,640 --> 00:04:47,559 Speaker 4: And I mean even you right now you're like, don't 88 00:04:47,600 --> 00:04:49,919 Speaker 4: do that. But in the moment, you're like, well, this 89 00:04:50,120 --> 00:04:52,000 Speaker 4: is my person. I love my person. We've got this 90 00:04:52,040 --> 00:04:54,560 Speaker 4: life we're building together. There's some stuff in his past 91 00:04:54,760 --> 00:04:57,520 Speaker 4: that's so fine. We're going to get through it, you know, 92 00:04:57,640 --> 00:05:00,480 Speaker 4: to move forward and actually create the life we want. 93 00:05:00,480 --> 00:05:02,760 Speaker 4: These are the decisions that we're making, and obviously they 94 00:05:02,760 --> 00:05:05,159 Speaker 4: weren't great. But I'm sure you know what, there are 95 00:05:05,200 --> 00:05:07,560 Speaker 4: probably some people in our community who have done exactly 96 00:05:07,600 --> 00:05:10,200 Speaker 4: that and their partner's paid off the loans early and 97 00:05:10,279 --> 00:05:11,960 Speaker 4: everything with sunshine and roses. 98 00:05:12,000 --> 00:05:14,520 Speaker 2: And I'm assuming that's what you thought it would be. 99 00:05:14,520 --> 00:05:18,159 Speaker 4: Because when you've got those blinkers on, you just don't 100 00:05:18,160 --> 00:05:20,600 Speaker 4: see what you don't see, and even though red flags exist, 101 00:05:20,680 --> 00:05:22,720 Speaker 4: you sometimes just go, that's all right. Like I know 102 00:05:22,760 --> 00:05:24,640 Speaker 4: some other people might think this is a red flag, 103 00:05:24,640 --> 00:05:27,120 Speaker 4: but I know this person deeply because they're my partner, 104 00:05:27,200 --> 00:05:30,080 Speaker 4: right They were engaged, so he's going to be here 105 00:05:30,080 --> 00:05:30,800 Speaker 4: for the long haul. 106 00:05:30,960 --> 00:05:31,279 Speaker 5: Yes. 107 00:05:31,520 --> 00:05:34,840 Speaker 3: In the start of those types of relationships, it's all 108 00:05:34,880 --> 00:05:40,160 Speaker 3: about confusing the person with words and beautiful gestures and stuff, 109 00:05:40,240 --> 00:05:44,080 Speaker 3: so that when red flags do pop up, the person 110 00:05:44,120 --> 00:05:47,680 Speaker 3: holds onto the hope of oh no, but their actual 111 00:05:47,720 --> 00:05:50,680 Speaker 3: behavior is you know, loving and grand gestures and all 112 00:05:50,680 --> 00:05:53,400 Speaker 3: that sort of stuff that the red flags just get 113 00:05:53,520 --> 00:05:55,640 Speaker 3: overtaken because essentially you're just. 114 00:05:55,640 --> 00:05:58,920 Speaker 4: Confused exactly, and they did that on purpose. 115 00:05:59,120 --> 00:06:00,440 Speaker 2: So tell bit more. 116 00:06:00,480 --> 00:06:04,560 Speaker 4: You took out these loans, obviously repayments started being late. 117 00:06:04,920 --> 00:06:06,240 Speaker 2: What did that then lead to? 118 00:06:06,720 --> 00:06:11,720 Speaker 3: So once we separated and I moved into State, the 119 00:06:11,960 --> 00:06:16,000 Speaker 3: personal loan, so the forty thousand dollar loan was down 120 00:06:16,080 --> 00:06:20,280 Speaker 3: to about twenty five thousand dollars, so still a fair 121 00:06:20,320 --> 00:06:24,479 Speaker 3: amount on it. And I in that time frame had 122 00:06:24,520 --> 00:06:27,440 Speaker 3: also bought myself a car, but ran it through my 123 00:06:27,720 --> 00:06:30,400 Speaker 3: dad's business because I already had a car through my name, 124 00:06:30,440 --> 00:06:33,880 Speaker 3: which was my partner's car. And he offered to pay 125 00:06:34,200 --> 00:06:36,520 Speaker 3: off that loan as well, which was only one hundred 126 00:06:36,560 --> 00:06:41,240 Speaker 3: dollars a week. So when we separated, the agreements was 127 00:06:41,320 --> 00:06:43,880 Speaker 3: that he would continue to pay off the personal loan. 128 00:06:44,760 --> 00:06:49,120 Speaker 3: I paid eight thousand dollars into that loan, which was 129 00:06:49,240 --> 00:06:51,880 Speaker 3: equivalent to the repayments that he had been doing for 130 00:06:52,000 --> 00:06:56,599 Speaker 3: my car, so that brought it down to about fifteen 131 00:06:56,680 --> 00:07:01,200 Speaker 3: thousand dollars. We set up this agreement in writing that 132 00:07:01,240 --> 00:07:04,320 Speaker 3: he would continue to pay the loan. It wouldn't have 133 00:07:04,320 --> 00:07:07,400 Speaker 3: stood up in court, but I don't think he was 134 00:07:07,480 --> 00:07:10,400 Speaker 3: smart enough to know that it wouldn't, so he thought 135 00:07:10,400 --> 00:07:13,200 Speaker 3: it was a legal document I knew it wasn't quite, 136 00:07:13,320 --> 00:07:15,360 Speaker 3: but it was something in writing, so he would keep 137 00:07:15,400 --> 00:07:16,440 Speaker 3: the repayments coming. 138 00:07:17,640 --> 00:07:17,920 Speaker 5: Fast. 139 00:07:17,960 --> 00:07:21,520 Speaker 3: Forward a couple of years and I had my new 140 00:07:21,600 --> 00:07:24,600 Speaker 3: partner and I'd fallen pregnant, and I still had this 141 00:07:24,720 --> 00:07:27,960 Speaker 3: stress of this personal loan, and so I think by 142 00:07:28,000 --> 00:07:31,920 Speaker 3: that time it was down to that seven thousand dollars, 143 00:07:32,600 --> 00:07:36,000 Speaker 3: and I asked my dad and I said, I don't 144 00:07:36,000 --> 00:07:39,360 Speaker 3: want this loan to be a debt. Can I borrow 145 00:07:39,440 --> 00:07:41,440 Speaker 3: seven thousand dollars so I can. 146 00:07:41,480 --> 00:07:42,360 Speaker 5: Pay that off? 147 00:07:43,200 --> 00:07:47,640 Speaker 3: And my ex will continue to pay the repayments, and. 148 00:07:47,800 --> 00:07:49,720 Speaker 5: If he doesn't for whatever reason. 149 00:07:49,480 --> 00:07:51,360 Speaker 3: I will cop that on the chin and I will 150 00:07:51,400 --> 00:07:54,200 Speaker 3: just repay you that seven thousand dollars. So that meant 151 00:07:54,240 --> 00:07:56,920 Speaker 3: I had no debts to my name, which was more 152 00:07:56,960 --> 00:07:59,560 Speaker 3: important to me than the actual value of the money. 153 00:07:59,600 --> 00:08:02,320 Speaker 5: I just wanted that person out of my life. 154 00:08:02,240 --> 00:08:04,160 Speaker 4: Especially when you're planning a family and you're going to 155 00:08:04,240 --> 00:08:06,360 Speaker 4: have a baby, like this is not where I need 156 00:08:06,400 --> 00:08:08,200 Speaker 4: to be, even if it costs me more. 157 00:08:08,360 --> 00:08:10,520 Speaker 2: I don't need this stress exactly. 158 00:08:10,800 --> 00:08:14,640 Speaker 3: So that was fine, And eventually it did get paid 159 00:08:14,640 --> 00:08:18,240 Speaker 3: off when I was pregnant with my second child, so 160 00:08:18,280 --> 00:08:22,160 Speaker 3: that it was really nice. To actually not have to 161 00:08:22,600 --> 00:08:24,880 Speaker 3: fall into like a debt for a debt, so that 162 00:08:25,040 --> 00:08:29,720 Speaker 3: finally got paid off, and with the car really, in hindsight, 163 00:08:29,880 --> 00:08:33,120 Speaker 3: because it was technically mine, however, I was into state 164 00:08:33,400 --> 00:08:35,199 Speaker 3: I really should have kept the car. 165 00:08:35,160 --> 00:08:37,360 Speaker 5: And sold it and just paid off that debt. 166 00:08:37,440 --> 00:08:40,360 Speaker 3: But I couldn't really access the car to get it, 167 00:08:40,400 --> 00:08:42,400 Speaker 3: and there's no way he would have handed it over, 168 00:08:43,120 --> 00:08:44,520 Speaker 3: and I didn't want to have to get you know, 169 00:08:44,640 --> 00:08:48,719 Speaker 3: police and lawyers involved. So for me to get that 170 00:08:48,840 --> 00:08:52,600 Speaker 3: loan transferred into his name through one of the big 171 00:08:52,640 --> 00:08:57,480 Speaker 3: four banks took months of paperwork back and forwards, but 172 00:08:57,640 --> 00:09:00,680 Speaker 3: he eventually got the car and his name and the 173 00:09:00,720 --> 00:09:03,880 Speaker 3: loan in his name. So was his problem and again 174 00:09:04,040 --> 00:09:05,760 Speaker 3: just not tied to me anyway. 175 00:09:05,960 --> 00:09:09,200 Speaker 4: That's so stressful though to have to go through. Was 176 00:09:09,240 --> 00:09:12,360 Speaker 4: he really, I guess, defiant during that, not wanting to 177 00:09:12,400 --> 00:09:12,840 Speaker 4: take it on. 178 00:09:13,160 --> 00:09:13,439 Speaker 5: Yes. 179 00:09:13,480 --> 00:09:16,440 Speaker 3: It got to a point where I think the amount 180 00:09:16,440 --> 00:09:19,120 Speaker 3: of money was like ten grand that was floating around, 181 00:09:19,520 --> 00:09:21,720 Speaker 3: and I said to him, why don't you just borrow 182 00:09:21,760 --> 00:09:22,440 Speaker 3: the money off. 183 00:09:22,280 --> 00:09:24,360 Speaker 5: Your parents and pay them. 184 00:09:24,200 --> 00:09:28,280 Speaker 3: Back like interest free loan be paid off quicker, you 185 00:09:28,360 --> 00:09:31,560 Speaker 3: know than like really ten thousand dollars isn't that much money? 186 00:09:32,679 --> 00:09:35,680 Speaker 3: And it later came out I had a conversation with 187 00:09:35,760 --> 00:09:38,160 Speaker 3: his family and he'd already taken a lot of their 188 00:09:38,200 --> 00:09:39,920 Speaker 3: money and they didn't have any super. 189 00:09:39,760 --> 00:09:42,640 Speaker 4: Less and so of course they wouldn't give him another 190 00:09:42,720 --> 00:09:43,400 Speaker 4: ten grand. 191 00:09:43,920 --> 00:09:47,360 Speaker 3: Yeah, so they physically couldn't. And then all these lives 192 00:09:47,360 --> 00:09:50,800 Speaker 3: started coming out from people that he'd asked to invest in, 193 00:09:50,840 --> 00:09:54,199 Speaker 3: these fake businesses that had lost money. And there were 194 00:09:54,240 --> 00:09:57,720 Speaker 3: stories of him collecting money from friends of friends for 195 00:09:57,800 --> 00:10:00,760 Speaker 3: someone's birthday present, which was out to thousand dollars, and 196 00:10:00,800 --> 00:10:03,520 Speaker 3: then trying to run off with that money. So all 197 00:10:03,559 --> 00:10:08,959 Speaker 3: of these really fraudulent theft stories started to come out 198 00:10:09,000 --> 00:10:10,560 Speaker 3: about all this money stuff. 199 00:10:10,600 --> 00:10:11,800 Speaker 2: Oh that is so it. 200 00:10:12,240 --> 00:10:14,840 Speaker 3: Oh it's such a problem for this person. And how 201 00:10:14,920 --> 00:10:17,080 Speaker 3: have they not been reported to the police? 202 00:10:17,679 --> 00:10:21,079 Speaker 4: So what's happening there so hasn't been reported to the police. 203 00:10:21,120 --> 00:10:24,240 Speaker 4: Is he just still out there coercing people into giving 204 00:10:24,280 --> 00:10:28,800 Speaker 4: them their money for these fake investments or how is 205 00:10:28,840 --> 00:10:30,160 Speaker 4: he being held accountable? 206 00:10:30,400 --> 00:10:31,920 Speaker 5: I literally have no idea. 207 00:10:31,960 --> 00:10:37,480 Speaker 3: I think in the fine print of these investments, if 208 00:10:37,480 --> 00:10:40,200 Speaker 3: you're an investor, you kind of sign a thing to say, hey, 209 00:10:40,320 --> 00:10:41,920 Speaker 3: like if the business doesn't work. 210 00:10:41,760 --> 00:10:44,600 Speaker 2: Out, like, yeah, you could lose any to lose that money. 211 00:10:44,840 --> 00:10:46,680 Speaker 5: I'd a couple of them call me and say like 212 00:10:46,720 --> 00:10:47,280 Speaker 5: what do I do? 213 00:10:47,360 --> 00:10:49,560 Speaker 3: And I said, just get a paper from your lawyer 214 00:10:49,640 --> 00:10:51,840 Speaker 3: that says you're on going to be on a payment plan. 215 00:10:51,880 --> 00:10:53,800 Speaker 5: It might take a little bit longer, but at. 216 00:10:53,760 --> 00:10:56,680 Speaker 3: Least you get some more all of your money back, 217 00:10:57,120 --> 00:10:59,520 Speaker 3: and he won't know that it's not going to stand 218 00:10:59,559 --> 00:11:01,880 Speaker 3: in court because he can't afford a proper lawyer. 219 00:11:02,240 --> 00:11:05,240 Speaker 2: Yeah, exactly, Yeah, he's still out there doing it. Oh 220 00:11:05,240 --> 00:11:07,520 Speaker 2: my god, I don't know. That makes me feel sick. 221 00:11:07,640 --> 00:11:11,400 Speaker 4: I cannot stand stories like that where it's just these 222 00:11:11,480 --> 00:11:14,760 Speaker 4: people that take advantage of you and then just run 223 00:11:14,800 --> 00:11:15,320 Speaker 4: off with it. 224 00:11:15,600 --> 00:11:17,720 Speaker 2: I mean, karma does have a way of coming around. 225 00:11:17,800 --> 00:11:20,600 Speaker 4: But my gosh, is that something that you carried into 226 00:11:20,640 --> 00:11:24,920 Speaker 4: your next relationship? Maybe some anxieties or like some hang ups, 227 00:11:25,040 --> 00:11:27,640 Speaker 4: or you weren't willing to share money in another relationship, 228 00:11:27,679 --> 00:11:30,400 Speaker 4: Like how did that impact the relationship with your now 229 00:11:30,679 --> 00:11:32,280 Speaker 4: husband that you're separating with. 230 00:11:32,840 --> 00:11:37,120 Speaker 3: Yes, so I never had joint bank accounts with my 231 00:11:37,600 --> 00:11:41,720 Speaker 3: exx and I never have in a relationship. It's just 232 00:11:41,800 --> 00:11:44,960 Speaker 3: something that I've never done because I've never seen the 233 00:11:45,600 --> 00:11:48,280 Speaker 3: point in it, you're just really moving money across to 234 00:11:48,360 --> 00:11:53,400 Speaker 3: somewhere for no reason. So in that sense of things, 235 00:11:53,559 --> 00:11:56,520 Speaker 3: there wasn't really a conversation about it because neither of 236 00:11:56,559 --> 00:11:58,640 Speaker 3: us said to one another, hey, let's do a joint 237 00:11:58,679 --> 00:12:04,600 Speaker 3: bank account. My husband knew what was happening with the 238 00:12:04,640 --> 00:12:09,000 Speaker 3: repayments and stuff, so we were very open about the 239 00:12:09,000 --> 00:12:12,600 Speaker 3: money situation, but there was never a conversation of him 240 00:12:12,640 --> 00:12:15,520 Speaker 3: to go, oh, well, let's do a joint bank account. 241 00:12:15,559 --> 00:12:17,839 Speaker 5: Anyway. So I think always. 242 00:12:17,520 --> 00:12:20,880 Speaker 3: Having that independence of having my own money has just 243 00:12:20,960 --> 00:12:23,480 Speaker 3: stuck with me and I think it will stay with 244 00:12:23,559 --> 00:12:27,240 Speaker 3: me forever. And I know plenty of long term partners 245 00:12:27,280 --> 00:12:29,880 Speaker 3: that still don't have joint bank accounts. And I think 246 00:12:29,960 --> 00:12:33,120 Speaker 3: that's really normal because you know, if we think of 247 00:12:33,679 --> 00:12:35,920 Speaker 3: this is going to be really like negative. But if 248 00:12:35,920 --> 00:12:39,000 Speaker 3: we think of marriages like a business, it's the same stats, 249 00:12:39,040 --> 00:12:42,000 Speaker 3: you know, like forty percent succeed So yeah, exactly did 250 00:12:42,000 --> 00:12:46,120 Speaker 3: you start shifting money around? Really, there's no point if 251 00:12:46,160 --> 00:12:49,320 Speaker 3: you're paying rent or mortgage repayments or bills, you just 252 00:12:50,120 --> 00:12:50,880 Speaker 3: split the money. 253 00:12:51,360 --> 00:12:54,040 Speaker 4: Yeah, no, that's fair, And I know that, like obviously, 254 00:12:54,160 --> 00:12:56,120 Speaker 4: lots of people have different ways of managing it, and 255 00:12:56,160 --> 00:12:59,080 Speaker 4: there's actually no right way. But it makes me so 256 00:12:59,240 --> 00:13:02,680 Speaker 4: happy to know that your money wasn't as intertwined with 257 00:13:02,760 --> 00:13:05,160 Speaker 4: this person as it could have been, Like I feel 258 00:13:05,160 --> 00:13:08,000 Speaker 4: like that put you in a much better position than 259 00:13:08,000 --> 00:13:11,280 Speaker 4: what you came out as. Like, it's just, yeah, it 260 00:13:11,360 --> 00:13:14,280 Speaker 4: gives me so much anxiety that this person is out 261 00:13:14,320 --> 00:13:16,560 Speaker 4: there taking advantage of other people. And what would have 262 00:13:16,600 --> 00:13:18,720 Speaker 4: you done if he actually had access to all of 263 00:13:18,720 --> 00:13:19,719 Speaker 4: your funds. 264 00:13:19,920 --> 00:13:24,120 Speaker 3: Exactly because all this money was disappearing and I didn't 265 00:13:24,120 --> 00:13:26,440 Speaker 3: know where it was going, but then later found out 266 00:13:26,640 --> 00:13:30,079 Speaker 3: like there was a substance abuse problem happening right in front. 267 00:13:29,880 --> 00:13:32,880 Speaker 5: Of my face. So no, only that, but then you've. 268 00:13:32,800 --> 00:13:36,240 Speaker 3: Got money shifting out to god knows where to fuel 269 00:13:36,280 --> 00:13:37,800 Speaker 3: that addiction as well. 270 00:13:38,360 --> 00:13:40,200 Speaker 2: How did you figure all of that out? 271 00:13:40,400 --> 00:13:43,160 Speaker 4: Was there like a turning point in the relationship where 272 00:13:43,200 --> 00:13:46,360 Speaker 4: all of a sudden you realized, oh my gosh, this 273 00:13:46,440 --> 00:13:49,040 Speaker 4: is definitely happening, or did somebody else bring it to 274 00:13:49,080 --> 00:13:49,640 Speaker 4: your attention? 275 00:13:49,800 --> 00:13:51,200 Speaker 2: Like how does this come up? 276 00:13:51,440 --> 00:13:55,360 Speaker 3: Somebody else brought it to my attention because they had 277 00:13:55,480 --> 00:14:01,760 Speaker 3: seen the transactions happen. They'd been you know, messaged for it, 278 00:14:01,960 --> 00:14:04,840 Speaker 3: you know, looking for it, and then when that light 279 00:14:04,880 --> 00:14:08,880 Speaker 3: bulb clicked, I went, this is where all that cash 280 00:14:08,960 --> 00:14:11,640 Speaker 3: is going, Him saying that he lost an envelope of 281 00:14:11,720 --> 00:14:13,880 Speaker 3: cash from a client and fell out. 282 00:14:13,760 --> 00:14:14,360 Speaker 5: Of his pocket. 283 00:14:15,120 --> 00:14:18,800 Speaker 3: These people coming over to our apartment, but not coming upstairs, 284 00:14:18,920 --> 00:14:21,240 Speaker 3: just staying downstairs and having a bit of a chat. 285 00:14:21,520 --> 00:14:22,400 Speaker 2: Oh my gosh. 286 00:14:22,520 --> 00:14:27,760 Speaker 3: Yeah, him saying he was tired, and you know, just 287 00:14:27,840 --> 00:14:30,840 Speaker 3: so many obvious things, you know, going to the bathroom 288 00:14:30,920 --> 00:14:33,240 Speaker 3: lots and having this vague look on his face. 289 00:14:34,040 --> 00:14:35,800 Speaker 5: But I just didn't think anything of it. 290 00:14:35,880 --> 00:14:38,120 Speaker 4: Well, if you're not a substance abuser and you never 291 00:14:38,200 --> 00:14:40,120 Speaker 4: have been, it might be something that you're going on. 292 00:14:40,320 --> 00:14:42,400 Speaker 2: I don't I really hadn't thought about that. 293 00:14:42,720 --> 00:14:45,560 Speaker 3: And I also thought, like in his honesty of the 294 00:14:45,600 --> 00:14:48,280 Speaker 3: way he communicated with me, I was sort of like, 295 00:14:48,880 --> 00:14:50,920 Speaker 3: why wouldn't you just tell me, Like I don't want 296 00:14:50,960 --> 00:14:53,240 Speaker 3: to do it, but just tell. 297 00:14:53,040 --> 00:14:54,600 Speaker 5: Me if you're going to go out or whatever. That 298 00:14:54,640 --> 00:14:55,400 Speaker 5: doesn't bother me. 299 00:14:55,800 --> 00:14:59,040 Speaker 4: Yeah, oh my gosh, that is heartbreaking to work all 300 00:14:59,080 --> 00:15:02,320 Speaker 4: of that out and have to go through that. I 301 00:15:02,360 --> 00:15:04,920 Speaker 4: want to know now, I guess you've come through all 302 00:15:04,960 --> 00:15:08,200 Speaker 4: of that you mentioned before. You know, you're currently in 303 00:15:08,280 --> 00:15:11,240 Speaker 4: the midst of a relationship breakdown. But you also started 304 00:15:11,240 --> 00:15:14,360 Speaker 4: a business in December twenty twenty one. Talk to me 305 00:15:14,560 --> 00:15:17,080 Speaker 4: about what you do now for work and how much 306 00:15:17,160 --> 00:15:17,880 Speaker 4: money you bring in. 307 00:15:18,280 --> 00:15:21,640 Speaker 3: So I am an Infant and Todd Last Sleek consultant, 308 00:15:21,680 --> 00:15:23,920 Speaker 3: so I worked with children up to five years old. 309 00:15:24,600 --> 00:15:27,960 Speaker 3: Previous to that, I was working in a school full time, 310 00:15:28,120 --> 00:15:31,680 Speaker 3: and then with my first pregnancy that was a COVID baby, 311 00:15:32,160 --> 00:15:35,400 Speaker 3: and we were in and out of lockdowns and sport 312 00:15:35,520 --> 00:15:38,760 Speaker 3: just shut down, and I just thought, oh my gosh, 313 00:15:39,160 --> 00:15:42,640 Speaker 3: I need something that will always be able to be around. 314 00:15:43,120 --> 00:15:45,400 Speaker 3: So I started that business. And then when I had 315 00:15:45,440 --> 00:15:48,680 Speaker 3: my second baby, I didn't go back to my full 316 00:15:48,680 --> 00:15:51,080 Speaker 3: time job, and that full time job was bringing in 317 00:15:51,680 --> 00:15:56,160 Speaker 3: seventy six thousand dollars eight hundred and seventy five, so 318 00:15:56,840 --> 00:15:59,320 Speaker 3: it was an amazing money and I'd been asking for 319 00:15:59,360 --> 00:16:02,880 Speaker 3: a pay rock. And then I started my business, which 320 00:16:02,920 --> 00:16:05,640 Speaker 3: was great because I didn't get maternity leave from my 321 00:16:05,720 --> 00:16:08,400 Speaker 3: employer as well as Centerlink. I just got the cent 322 00:16:08,400 --> 00:16:11,680 Speaker 3: to Link payments, so it really helped me through my 323 00:16:11,880 --> 00:16:13,080 Speaker 3: second maternity leave. 324 00:16:13,320 --> 00:16:15,120 Speaker 5: And then when I went to return. 325 00:16:14,880 --> 00:16:17,520 Speaker 3: To full time work, the way that was handled was 326 00:16:17,520 --> 00:16:22,840 Speaker 3: not ideal and they'd readvertised my job with a very 327 00:16:22,920 --> 00:16:27,080 Speaker 3: substantial over ten thousand dollars pay drom and I just 328 00:16:27,320 --> 00:16:30,640 Speaker 3: couldn't afford going back, and I just thought, well, let's 329 00:16:30,680 --> 00:16:33,160 Speaker 3: just make my business vibe or By this stage it 330 00:16:33,240 --> 00:16:36,280 Speaker 3: was about eight months up and running, and so it 331 00:16:36,320 --> 00:16:39,080 Speaker 3: has its second birthday on the first of December this year. 332 00:16:39,320 --> 00:16:41,840 Speaker 2: Oh exciting, Yeah, it's really exciting. 333 00:16:41,960 --> 00:16:45,200 Speaker 5: And so last financial year, let's take. 334 00:16:45,120 --> 00:16:48,280 Speaker 3: Into account that I had a four month old baby 335 00:16:48,760 --> 00:16:51,360 Speaker 3: at the start of the financial year. Last year, it 336 00:16:51,480 --> 00:16:54,320 Speaker 3: brought in thirty eight and a half thousand dollars. 337 00:16:54,520 --> 00:16:55,920 Speaker 2: Oh my gosh, how good. 338 00:16:56,240 --> 00:16:59,280 Speaker 3: Yeah, and that's only working part time as well, so 339 00:16:59,320 --> 00:17:01,120 Speaker 3: I really it wasn't like full time. 340 00:17:01,280 --> 00:17:03,080 Speaker 5: So I think that's pretty good. 341 00:17:03,440 --> 00:17:06,520 Speaker 4: I think that's airpic, especially for the first couple of 342 00:17:06,640 --> 00:17:09,600 Speaker 4: years of business. And then you drop in, oh, by 343 00:17:09,600 --> 00:17:11,720 Speaker 4: the way, I also had one child and a four 344 00:17:11,760 --> 00:17:13,879 Speaker 4: month old baby, like that's killing it. 345 00:17:14,240 --> 00:17:15,399 Speaker 5: I was really proud of that. 346 00:17:16,440 --> 00:17:18,480 Speaker 3: And now that the kids are older and they're in care, 347 00:17:18,520 --> 00:17:21,640 Speaker 3: I'm able to dedicate more time and effort into the business. 348 00:17:21,680 --> 00:17:25,240 Speaker 3: I'm just about to do a rebrand all of this stuff, 349 00:17:25,280 --> 00:17:27,880 Speaker 3: which has really going to freshen it up and I'm 350 00:17:27,960 --> 00:17:31,760 Speaker 3: so much clearer with it. Next financial year, I'm hoping 351 00:17:31,880 --> 00:17:33,360 Speaker 3: to crack fifty. 352 00:17:33,040 --> 00:17:35,240 Speaker 5: But we just have to see how that goes. 353 00:17:36,200 --> 00:17:41,119 Speaker 3: And yeah, also like managing separation and working out, you know, 354 00:17:41,520 --> 00:17:44,359 Speaker 3: being a single parent and what that sort of looks 355 00:17:44,440 --> 00:17:48,280 Speaker 3: like in terms of income and expenses. You know, I'm 356 00:17:48,320 --> 00:17:52,000 Speaker 3: still waiting on child support arrangements to come into place. 357 00:17:52,080 --> 00:17:54,160 Speaker 3: That can take a few months, so I don't quite 358 00:17:54,200 --> 00:17:56,919 Speaker 3: know what that looks like at this present time. I'm 359 00:17:56,960 --> 00:18:00,440 Speaker 3: still yet to receive any money from my ex husband 360 00:18:00,520 --> 00:18:03,080 Speaker 3: for the kids. So yeah, things are a little bit tight, 361 00:18:03,200 --> 00:18:05,080 Speaker 3: but we are getting there, which is great. 362 00:18:05,320 --> 00:18:08,200 Speaker 4: And to be a little bit pervy because obviously this 363 00:18:08,240 --> 00:18:10,359 Speaker 4: is something that does happen in our community. 364 00:18:10,600 --> 00:18:12,159 Speaker 2: Is relationship breakdown? 365 00:18:13,040 --> 00:18:15,960 Speaker 4: Was this amicable or is this something where you're going 366 00:18:16,000 --> 00:18:18,720 Speaker 4: to have to argue a fair bit for child support? 367 00:18:18,800 --> 00:18:21,160 Speaker 2: Like what does that actually look like? Do you think? 368 00:18:21,240 --> 00:18:21,480 Speaker 1: For you? 369 00:18:22,080 --> 00:18:26,280 Speaker 3: So it wasn't amicable, but it was explicitly talked about 370 00:18:26,400 --> 00:18:29,760 Speaker 3: before I left, so I'll just be honest. It was 371 00:18:29,840 --> 00:18:31,280 Speaker 3: because of domestic abuse. 372 00:18:31,480 --> 00:18:32,440 Speaker 2: So I'm sorry. 373 00:18:32,440 --> 00:18:32,600 Speaker 1: Sorry. 374 00:18:32,640 --> 00:18:33,520 Speaker 5: I'm in a much more. 375 00:18:33,359 --> 00:18:37,640 Speaker 3: Supportive and safer environment now with regards to the kids. 376 00:18:37,880 --> 00:18:40,399 Speaker 3: The requests from the other party is fifty to fifty. 377 00:18:40,520 --> 00:18:43,280 Speaker 3: But when you look at family law and what's actually 378 00:18:43,720 --> 00:18:46,440 Speaker 3: more beneficial for the kids, especially because they're so young, 379 00:18:46,600 --> 00:18:48,600 Speaker 3: like my kids are three years. 380 00:18:48,359 --> 00:18:49,840 Speaker 5: And almost one and a half. 381 00:18:50,280 --> 00:18:53,439 Speaker 3: Yeah, they need to be spending more time with the 382 00:18:53,440 --> 00:18:56,840 Speaker 3: primary care because of their age. And then as they 383 00:18:56,840 --> 00:19:00,240 Speaker 3: get older and your child support gets reviewed every six months, 384 00:19:00,280 --> 00:19:03,520 Speaker 3: you can start to request more overnight stays with the 385 00:19:03,560 --> 00:19:07,240 Speaker 3: other parties. So at the moment, we're still waiting for mediation, 386 00:19:07,400 --> 00:19:10,679 Speaker 3: but I'm requesting that I have them eleven out of 387 00:19:10,720 --> 00:19:13,879 Speaker 3: fourteen nights and then it will just look to improve, 388 00:19:13,960 --> 00:19:16,239 Speaker 3: which is kind of motivating for the other party as well. 389 00:19:16,280 --> 00:19:16,840 Speaker 5: It's getting up. 390 00:19:16,880 --> 00:19:19,040 Speaker 3: I do really well for six months and I prove that, 391 00:19:19,680 --> 00:19:22,280 Speaker 3: you know, I can have the kids in that capacity, 392 00:19:22,800 --> 00:19:24,800 Speaker 3: that's got the next step for him to ask for 393 00:19:24,800 --> 00:19:26,560 Speaker 3: an extra night or two, which is great. 394 00:19:26,840 --> 00:19:30,080 Speaker 4: Obviously I do not know nearly enough about your circumstance, 395 00:19:30,280 --> 00:19:34,200 Speaker 4: but given you mentioned that the reason for the relationship 396 00:19:34,280 --> 00:19:37,720 Speaker 4: breakdown was domestic abuse, I just feel like he is 397 00:19:37,800 --> 00:19:40,240 Speaker 4: lucky that it's not you asking for one hundred percent 398 00:19:40,440 --> 00:19:43,480 Speaker 4: of that, because that is a very real outcome that 399 00:19:43,600 --> 00:19:46,200 Speaker 4: could happen and to be honest, I feel like if 400 00:19:46,200 --> 00:19:48,919 Speaker 4: that's the circumstance, the courts would probably agree with you. 401 00:19:49,200 --> 00:19:52,199 Speaker 3: Yes, exactly, because family law, they went through a phase 402 00:19:52,240 --> 00:19:54,560 Speaker 3: of having fifty to fifty and then they realized that 403 00:19:54,640 --> 00:19:56,639 Speaker 3: it wasn't in the best interest of the children, so 404 00:19:56,680 --> 00:19:59,879 Speaker 3: they went back to the primary care having the majority. 405 00:20:00,040 --> 00:20:02,160 Speaker 4: Yeah, no, and it makes absolute sense. I'm so sorry 406 00:20:02,160 --> 00:20:03,800 Speaker 4: that you have to go through that. It would just 407 00:20:03,840 --> 00:20:07,000 Speaker 4: be such a shitty period. But I'm glad that you're 408 00:20:07,040 --> 00:20:09,760 Speaker 4: in a better position and you're, you know. 409 00:20:09,760 --> 00:20:10,320 Speaker 2: Building it up. 410 00:20:10,359 --> 00:20:12,439 Speaker 4: You've obviously got so much to look forward to, Like, 411 00:20:12,480 --> 00:20:14,719 Speaker 4: You've got goals in your business, and I think you're 412 00:20:14,800 --> 00:20:17,080 Speaker 4: killing it. Like, I'm so excited to see where you go. 413 00:20:17,800 --> 00:20:21,080 Speaker 4: The next question I've got is what's your big money 414 00:20:21,080 --> 00:20:23,280 Speaker 4: goal at the moment? What are you currently working towards. 415 00:20:23,359 --> 00:20:25,719 Speaker 4: Is it that fifty thousand dollars goal in your business 416 00:20:25,800 --> 00:20:27,280 Speaker 4: or are there other ones you want to talk to 417 00:20:27,320 --> 00:20:27,720 Speaker 4: me about. 418 00:20:28,080 --> 00:20:30,679 Speaker 5: Totally. So, one of my goals for this year was 419 00:20:30,760 --> 00:20:33,560 Speaker 5: to buy a new car because I've simply outgrown my 420 00:20:33,640 --> 00:20:37,280 Speaker 5: small little car, and I pick up my brand new wheels. 421 00:20:37,320 --> 00:20:39,000 Speaker 5: I actually pick them up tomorrow mornings. 422 00:20:39,240 --> 00:20:41,920 Speaker 3: So got the car is a bit more symbolic now, 423 00:20:41,960 --> 00:20:45,040 Speaker 3: I feel, so with that car, I'll be trading in 424 00:20:45,040 --> 00:20:47,960 Speaker 3: my old car. So the loan will be thirty four 425 00:20:48,000 --> 00:20:50,720 Speaker 3: thousand dollars and I'm going to pay it off over 426 00:20:50,840 --> 00:20:53,600 Speaker 3: four years with no balloon payment, and it's going to 427 00:20:53,600 --> 00:20:54,280 Speaker 3: be about. 428 00:20:54,040 --> 00:20:56,120 Speaker 5: Two hundred and three dollars a week. 429 00:20:57,240 --> 00:20:59,600 Speaker 3: When that four years is up. I would like to 430 00:20:59,600 --> 00:21:03,040 Speaker 3: also have a bit of a house deposit ready to. 431 00:21:03,000 --> 00:21:05,240 Speaker 5: Go, so that I don't have any current debt. 432 00:21:05,520 --> 00:21:08,879 Speaker 3: I can just go, here is my deposit, buy a house, 433 00:21:09,119 --> 00:21:12,600 Speaker 3: hopefully see what the market is doing. I'm in a 434 00:21:12,640 --> 00:21:15,399 Speaker 3: really fortunate situation at the moment where there's no rush 435 00:21:15,400 --> 00:21:17,119 Speaker 3: for me to move out of where I'm living, but 436 00:21:17,200 --> 00:21:19,640 Speaker 3: that would be my big kind of future goal. 437 00:21:19,880 --> 00:21:20,960 Speaker 2: That's so exciting. 438 00:21:21,080 --> 00:21:23,240 Speaker 4: I feel like that's a lot of clarity for someone 439 00:21:23,280 --> 00:21:28,359 Speaker 4: going through arguably a pretty tumultuous time new car, saving 440 00:21:28,400 --> 00:21:31,000 Speaker 4: for a house deposit. Is there anything else you're currently 441 00:21:31,040 --> 00:21:31,840 Speaker 4: working towards. 442 00:21:32,080 --> 00:21:35,520 Speaker 3: I would say after the Christmas busy season this year, 443 00:21:35,640 --> 00:21:38,560 Speaker 3: I would like to have five thousand dollars sitting in 444 00:21:38,600 --> 00:21:41,640 Speaker 3: my savings account to kick me off for next year. 445 00:21:41,680 --> 00:21:45,040 Speaker 3: Because you know, as all small business owners know, January 446 00:21:45,040 --> 00:21:48,200 Speaker 3: February is a bit of a quiet time, so that's 447 00:21:48,240 --> 00:21:50,040 Speaker 3: sort of my short term. 448 00:21:49,720 --> 00:21:52,360 Speaker 5: Goal coming into the next sort of six statementths. 449 00:21:52,760 --> 00:21:53,480 Speaker 2: I'm loving this. 450 00:21:53,840 --> 00:21:56,000 Speaker 4: I can already see Money Direst, that you and I 451 00:21:56,040 --> 00:21:58,239 Speaker 4: are going to have a little disagreement at the end 452 00:21:58,280 --> 00:22:01,919 Speaker 4: of this episode, given you think your received, but we 453 00:22:01,960 --> 00:22:03,639 Speaker 4: can get to that a little bit later. Let's go 454 00:22:03,640 --> 00:22:06,160 Speaker 4: to a really quick break and we will come right back. 455 00:22:10,920 --> 00:22:13,639 Speaker 4: All right, Money Direst, we are back. I feel like 456 00:22:13,720 --> 00:22:16,080 Speaker 4: you are killing it more than you're giving yourself credit for. 457 00:22:16,920 --> 00:22:19,960 Speaker 4: I want to know do you have any investments. If so, 458 00:22:20,040 --> 00:22:22,439 Speaker 4: what are they, If not, do you have plans for them? 459 00:22:22,760 --> 00:22:23,240 Speaker 5: Yeah? 460 00:22:23,280 --> 00:22:26,280 Speaker 3: So in my super I have sixty three and a 461 00:22:26,320 --> 00:22:30,840 Speaker 3: half thousand dollars. When I was going through UNI back 462 00:22:30,880 --> 00:22:33,359 Speaker 3: in the day for four years, I was a bit 463 00:22:33,480 --> 00:22:35,879 Speaker 3: naughty and didn't pay into my own super as I 464 00:22:35,920 --> 00:22:38,840 Speaker 3: was a sole trader. But as soon as you finished, 465 00:22:38,880 --> 00:22:41,920 Speaker 3: I was back into that. So I pay about ten 466 00:22:41,960 --> 00:22:44,080 Speaker 3: percent a month straight into my super. 467 00:22:44,520 --> 00:22:46,560 Speaker 4: So even though you own your own business and it's 468 00:22:46,560 --> 00:22:48,679 Speaker 4: only just started, you're already paying yourself super. 469 00:22:49,160 --> 00:22:51,399 Speaker 3: Yes, I love this so much because I want to 470 00:22:51,400 --> 00:22:55,320 Speaker 3: be able to retire and live a great life my 471 00:22:55,400 --> 00:22:58,320 Speaker 3: other investments. So in my savings currently I have three 472 00:22:58,359 --> 00:23:02,040 Speaker 3: and a half thousand dollars. I also have a micro 473 00:23:02,200 --> 00:23:07,520 Speaker 3: investment account through Rays. I use that for my holidays, 474 00:23:07,560 --> 00:23:10,240 Speaker 3: so at the moment there is seven hundred and twenty 475 00:23:10,280 --> 00:23:13,760 Speaker 3: dollars in there. I also invest five dollars a week 476 00:23:13,800 --> 00:23:16,440 Speaker 3: for each of my kids, so that when they're eighteen, 477 00:23:16,480 --> 00:23:19,720 Speaker 3: they're going to have about thirteen thousand dollars each. And 478 00:23:19,800 --> 00:23:22,120 Speaker 3: at the moment they've got three hundred and seventy five 479 00:23:22,200 --> 00:23:26,400 Speaker 3: dollars sitting in their accounts. I have recently gotten into 480 00:23:26,480 --> 00:23:30,800 Speaker 3: shop back and that's going to be my Christmas account 481 00:23:31,320 --> 00:23:33,879 Speaker 3: with my Flybys dollars, So if that gives me a 482 00:23:33,880 --> 00:23:35,600 Speaker 3: few hundred dollars, that's going to be great. 483 00:23:35,880 --> 00:23:37,880 Speaker 5: At the moment, I've got twenty dollars. 484 00:23:37,560 --> 00:23:40,720 Speaker 4: In there from little things, big things grow. I want 485 00:23:40,760 --> 00:23:43,879 Speaker 4: to know a little bit more about investing for kids. 486 00:23:43,920 --> 00:23:46,560 Speaker 4: You mentioned that you're investing five dollars each per week 487 00:23:46,640 --> 00:23:49,840 Speaker 4: for them. Can you tell me what you're investing into 488 00:23:49,880 --> 00:23:51,240 Speaker 4: and how you made that decision. 489 00:23:51,600 --> 00:23:55,080 Speaker 3: So my sister used to work for a bank, and 490 00:23:55,320 --> 00:23:57,760 Speaker 3: I asked her about setting up, you know, like a 491 00:23:57,880 --> 00:24:00,960 Speaker 3: term deposit for the kids. She said, because of all 492 00:24:00,960 --> 00:24:05,240 Speaker 3: the interest rate you know, variability, and you get taxed 493 00:24:05,240 --> 00:24:07,440 Speaker 3: on the interests and stuff like that. She said, it's 494 00:24:07,440 --> 00:24:12,360 Speaker 3: actually probably smarter doing the micro investing because yeah, there'll 495 00:24:12,400 --> 00:24:15,000 Speaker 3: be a little bit of fluctuation, but she said, it's 496 00:24:15,040 --> 00:24:17,639 Speaker 3: just a lot easier and you'll probably get better returns 497 00:24:17,760 --> 00:24:20,000 Speaker 3: if you do that at that kind of small rate. 498 00:24:20,040 --> 00:24:22,800 Speaker 3: It's not like I'm putting tens of thousands of dollars away. 499 00:24:22,920 --> 00:24:26,040 Speaker 3: I'm literally talking about ten dollars a week. And yeah, 500 00:24:26,080 --> 00:24:28,520 Speaker 3: it's been going quite well, like the market returns have 501 00:24:28,640 --> 00:24:29,600 Speaker 3: been small, Like. 502 00:24:29,640 --> 00:24:31,600 Speaker 5: It's a very conservative portfolio. 503 00:24:32,560 --> 00:24:35,040 Speaker 3: But yes, you can visibly see it if you wanted 504 00:24:35,040 --> 00:24:37,000 Speaker 3: to take money out of it. You can easily if 505 00:24:37,000 --> 00:24:41,280 Speaker 3: there was an emergency. You don't get penalized. The maintenance 506 00:24:41,320 --> 00:24:43,040 Speaker 3: fee every month is really small. 507 00:24:43,280 --> 00:24:46,760 Speaker 5: So overall, yeah, I've found that to be really, really helpful. 508 00:24:47,040 --> 00:24:49,160 Speaker 4: I love being pervy and being like, but how because 509 00:24:49,200 --> 00:24:51,360 Speaker 4: I know that every other parent that's listening to this 510 00:24:51,440 --> 00:24:53,000 Speaker 4: is like, oh my gosh, I've been meaning to invest 511 00:24:53,040 --> 00:24:55,000 Speaker 4: for the kids. How other people doing it? Where do 512 00:24:55,080 --> 00:24:57,320 Speaker 4: I start? I feel like it can be so overwhelming. 513 00:24:58,200 --> 00:25:00,439 Speaker 4: The next question I've got for you, my friend, I, oh 514 00:25:00,400 --> 00:25:01,639 Speaker 4: don't know, do you have any debts? 515 00:25:01,640 --> 00:25:02,480 Speaker 2: If so, what are they. 516 00:25:02,840 --> 00:25:05,440 Speaker 3: I have never had a credit card in my life, 517 00:25:05,520 --> 00:25:08,399 Speaker 3: and I would love to be one of those people 518 00:25:08,440 --> 00:25:10,879 Speaker 3: that gets a credit card, uses all the points, and 519 00:25:10,920 --> 00:25:13,359 Speaker 3: then refreshes the credit card every two years, but at 520 00:25:13,359 --> 00:25:15,720 Speaker 3: the moment, I did not have the mental capacity for that. 521 00:25:16,359 --> 00:25:18,800 Speaker 3: So the only debt I'm about to go into is 522 00:25:18,960 --> 00:25:22,080 Speaker 3: the card debt of thirty four thousand dollars, which is fine, 523 00:25:22,760 --> 00:25:24,560 Speaker 3: and apart from that, I'm debt free. 524 00:25:24,760 --> 00:25:25,719 Speaker 2: Oh how good? 525 00:25:25,880 --> 00:25:28,080 Speaker 4: And I feel like the car debt that you're going 526 00:25:28,119 --> 00:25:30,960 Speaker 4: into is a very calculated decision, Like the way you 527 00:25:31,000 --> 00:25:33,480 Speaker 4: were explaining it to me, how clear you are that 528 00:25:33,520 --> 00:25:36,040 Speaker 4: there's no balloon on this loan. Don't worry, it's two 529 00:25:36,080 --> 00:25:38,080 Speaker 4: hundred and three dollars a week. Like this makes sense 530 00:25:38,119 --> 00:25:41,080 Speaker 4: for me my financial situation. I feel like that's what 531 00:25:41,160 --> 00:25:43,879 Speaker 4: I want to hear when people are talking about taking 532 00:25:43,880 --> 00:25:47,880 Speaker 4: on personal debt to get themselves further, because obviously your 533 00:25:47,920 --> 00:25:50,040 Speaker 4: current card is not serving you and you did need 534 00:25:50,080 --> 00:25:52,639 Speaker 4: a bigger option. But not everyone has thirty four thousand 535 00:25:52,680 --> 00:25:54,960 Speaker 4: dollars sitting around, so I think it's a bit naive 536 00:25:55,000 --> 00:25:57,280 Speaker 4: if I was sitting here being like, don't get car loans, 537 00:25:57,320 --> 00:26:00,520 Speaker 4: that's so silly, Like this obviously works really well for you, 538 00:26:00,560 --> 00:26:02,280 Speaker 4: and it's well thought out and you're making the best 539 00:26:02,320 --> 00:26:03,600 Speaker 4: decision for you right. 540 00:26:04,080 --> 00:26:06,720 Speaker 3: Right, and you can have it as a total tax 541 00:26:06,800 --> 00:26:10,280 Speaker 3: right off. So the petrol, you know, the repayments is 542 00:26:10,440 --> 00:26:14,760 Speaker 3: completely run under my business, so it makes sense for me. 543 00:26:15,080 --> 00:26:16,560 Speaker 2: Yeah, absolutely, all right. 544 00:26:16,640 --> 00:26:18,680 Speaker 4: I want to know next, because I feel like you've 545 00:26:18,680 --> 00:26:20,960 Speaker 4: probably picked up a few good habits. 546 00:26:20,600 --> 00:26:21,520 Speaker 2: In your years. 547 00:26:22,000 --> 00:26:24,280 Speaker 4: Let me know what your best money habit is. 548 00:26:24,960 --> 00:26:31,399 Speaker 3: So I've been using an expensive spreadsheet for probably twelve 549 00:26:31,480 --> 00:26:35,520 Speaker 3: years and I track everything on it, so all my income, 550 00:26:35,760 --> 00:26:38,680 Speaker 3: all my expenses. Then at the end of every financial year, 551 00:26:38,720 --> 00:26:40,680 Speaker 3: I just shoot that off to my accountant and he 552 00:26:40,720 --> 00:26:43,760 Speaker 3: does his magic. So I'm very aware of where all 553 00:26:43,760 --> 00:26:47,280 Speaker 3: my money is going. I make sure that my tax 554 00:26:47,359 --> 00:26:50,000 Speaker 3: is always up to date because it helps balance anything 555 00:26:50,040 --> 00:26:52,840 Speaker 3: that you're doing, you know, with childcare subsidy and stuff 556 00:26:52,880 --> 00:26:55,240 Speaker 3: like that, and as well if you're doing like a 557 00:26:55,280 --> 00:26:58,480 Speaker 3: pay as you go system with your business, or if 558 00:26:58,520 --> 00:26:59,960 Speaker 3: it's just a lump sum at the end, you want 559 00:26:59,960 --> 00:27:01,600 Speaker 3: to be really clear and up to date with that 560 00:27:01,720 --> 00:27:04,560 Speaker 3: so you don't get into any big tax stats. I 561 00:27:04,800 --> 00:27:09,240 Speaker 3: always try to recycle clothes and goods, so I'm very 562 00:27:09,240 --> 00:27:14,120 Speaker 3: thrifty on Facebook marketplace of donating and selling my stuff 563 00:27:14,480 --> 00:27:16,719 Speaker 3: because you know what ten bucks is, ten bucks at 564 00:27:16,720 --> 00:27:21,800 Speaker 3: all adds on. And when I do buy things, I'm 565 00:27:21,840 --> 00:27:24,800 Speaker 3: doing it through either my micro investing at or my 566 00:27:24,840 --> 00:27:27,040 Speaker 3: shop back apps, or at least I'm getting a kicker. 567 00:27:27,640 --> 00:27:31,240 Speaker 3: And I rarely buy my meals and my coffee. I 568 00:27:31,280 --> 00:27:35,440 Speaker 3: will probably buy a coffee once maybe twice a week, 569 00:27:36,160 --> 00:27:40,000 Speaker 3: and I generally will go out for dinner maybe once 570 00:27:40,040 --> 00:27:41,240 Speaker 3: a week, once a fortnight. 571 00:27:41,320 --> 00:27:43,760 Speaker 5: So I'm very very savvy on that fun as well. 572 00:27:44,040 --> 00:27:44,959 Speaker 2: Oh I love that. 573 00:27:45,320 --> 00:27:48,280 Speaker 4: I feel like that is really thought out and planned. 574 00:27:48,920 --> 00:27:51,399 Speaker 4: Let's bring it down though, surely you have a habit 575 00:27:51,480 --> 00:27:53,760 Speaker 4: that you're maybe not so proud of. What do you 576 00:27:53,840 --> 00:27:55,600 Speaker 4: think is your worst money habit? 577 00:27:56,200 --> 00:28:00,320 Speaker 3: So I've actually never written a budget for myself, even 578 00:28:00,320 --> 00:28:03,080 Speaker 3: though I have this beautiful spreadsheet that tells me all 579 00:28:03,080 --> 00:28:05,800 Speaker 3: my ins and outs, I've never sat down and gone right, 580 00:28:06,160 --> 00:28:08,640 Speaker 3: how much do I have to spend on all these areas? 581 00:28:08,720 --> 00:28:11,920 Speaker 3: I think because my income's always been variable, so it's 582 00:28:12,000 --> 00:28:15,560 Speaker 3: kind of hard to gauge that. But I think because 583 00:28:15,560 --> 00:28:18,840 Speaker 3: I'm so conscious about money and know where it's going, 584 00:28:19,400 --> 00:28:21,200 Speaker 3: I don't know. It just kind of levels that out. 585 00:28:21,240 --> 00:28:23,480 Speaker 3: But yeah, never written a budget, woos. 586 00:28:23,320 --> 00:28:24,879 Speaker 2: I can help you with that, that's okay. 587 00:28:25,240 --> 00:28:29,320 Speaker 4: I will organize that for you after we finish recording. 588 00:28:30,119 --> 00:28:32,880 Speaker 3: So if I know that I'm coming into a big payment, 589 00:28:33,040 --> 00:28:35,439 Speaker 3: I'll like spend that money before it hits my account. 590 00:28:35,560 --> 00:28:37,720 Speaker 3: So at the moment, like I'm waiting on a six 591 00:28:37,800 --> 00:28:40,680 Speaker 3: thousand dollar contract payout which is coming on the thirty 592 00:28:40,680 --> 00:28:43,640 Speaker 3: first of this month, and I've already spent like four 593 00:28:43,680 --> 00:28:47,000 Speaker 3: thousand dollars of it, so when it actually comes in, 594 00:28:47,080 --> 00:28:48,480 Speaker 3: it's not going to be as exciting. 595 00:28:48,560 --> 00:28:50,800 Speaker 5: That's probably my other really bad habit too. 596 00:28:51,520 --> 00:28:53,800 Speaker 4: What have you spent the four grand on already? Are 597 00:28:53,840 --> 00:28:55,920 Speaker 4: these things that you actually needed or are you just 598 00:28:56,000 --> 00:28:58,280 Speaker 4: going yollo, there's money coming in. 599 00:28:59,400 --> 00:29:01,760 Speaker 3: So when I moved into this house, there was a 600 00:29:01,800 --> 00:29:04,160 Speaker 3: double bed, and I physically don't fit in one, so 601 00:29:04,200 --> 00:29:05,720 Speaker 3: I upgraded to a queen bed. 602 00:29:05,800 --> 00:29:08,040 Speaker 5: So that was thirteen hundred dollars. 603 00:29:08,360 --> 00:29:11,960 Speaker 3: I just spent almost one thousand dollars on new clothes 604 00:29:12,040 --> 00:29:14,480 Speaker 3: because during this process, I've lost a lot of weight, 605 00:29:14,600 --> 00:29:17,240 Speaker 3: so none of my clothes fit me, and I feel 606 00:29:17,280 --> 00:29:19,480 Speaker 3: like I just needed a bit of a snazz up 607 00:29:19,520 --> 00:29:25,880 Speaker 3: after everything that's happened. And I spent another fifteen hundred 608 00:29:25,960 --> 00:29:30,520 Speaker 3: dollars on my graphic designer as well, so she got 609 00:29:30,520 --> 00:29:33,400 Speaker 3: paid too, but that's also gone a betterfit my business, 610 00:29:33,480 --> 00:29:34,200 Speaker 3: so that's. 611 00:29:34,080 --> 00:29:36,120 Speaker 2: Kind of that's a business cost though. 612 00:29:36,720 --> 00:29:39,280 Speaker 4: Yes, yeah, those are definitely separate, but I feel like 613 00:29:39,480 --> 00:29:40,880 Speaker 4: all of those things are very valid. 614 00:29:40,920 --> 00:29:42,880 Speaker 2: Sometimes you've just got to do what you've got to do. 615 00:29:43,040 --> 00:29:47,400 Speaker 4: My friend, I want to reflect on at the start 616 00:29:47,400 --> 00:29:51,320 Speaker 4: of this episode. You've gone through so much and shared 617 00:29:51,360 --> 00:29:53,680 Speaker 4: so much with us, which I'm so grateful for. But 618 00:29:53,720 --> 00:29:55,600 Speaker 4: it sounds like you're really on top of it, like 619 00:29:55,760 --> 00:29:59,640 Speaker 4: you're good at managing money. You are clear about your goals. 620 00:30:00,520 --> 00:30:03,719 Speaker 4: Do you think a C still fits you after this conversation. 621 00:30:03,960 --> 00:30:06,640 Speaker 4: If so, why and if not, what would you change 622 00:30:06,680 --> 00:30:06,880 Speaker 4: it to. 623 00:30:07,480 --> 00:30:09,480 Speaker 5: I would say maybe upgrade to a bee. 624 00:30:10,080 --> 00:30:13,840 Speaker 3: I feel like there are still avenues that I could 625 00:30:13,880 --> 00:30:15,560 Speaker 3: probably explore to make. 626 00:30:15,640 --> 00:30:21,960 Speaker 5: My income more efficient and more supportive. But yes, after. 627 00:30:21,720 --> 00:30:26,120 Speaker 3: Speaking everything through and looking at how hyper organized I am. 628 00:30:26,200 --> 00:30:29,480 Speaker 2: I'm like, you're doing well, doing well. 629 00:30:29,840 --> 00:30:32,080 Speaker 3: And you have to be when you've got two kids like, 630 00:30:32,160 --> 00:30:34,960 Speaker 3: you have to just be so organized, otherwise the. 631 00:30:34,960 --> 00:30:37,160 Speaker 2: Wheels will fall off real quick if you're not. 632 00:30:37,320 --> 00:30:42,240 Speaker 3: Hey, oh yeah, so yes, all my online shopping would 633 00:30:42,280 --> 00:30:44,600 Speaker 3: be out of control if I didn't have this sort 634 00:30:44,600 --> 00:30:46,480 Speaker 3: of awareness of wherever the money was going. 635 00:30:46,840 --> 00:30:47,320 Speaker 2: I love that. 636 00:30:47,520 --> 00:30:50,080 Speaker 4: I'm glad that you upgraded yourself, because after hearing all 637 00:30:50,120 --> 00:30:50,400 Speaker 4: of this. 638 00:30:50,440 --> 00:30:52,200 Speaker 2: I'm like, I don't know if that fits. 639 00:30:52,280 --> 00:30:54,000 Speaker 4: And as I said before we went to a break, 640 00:30:54,040 --> 00:30:55,800 Speaker 4: I was like, I think we're going to have a disagreement, 641 00:30:55,840 --> 00:30:57,760 Speaker 4: but we don't disagree. I agree with a Bee. I 642 00:30:57,800 --> 00:31:00,720 Speaker 4: think that a beat is very reflective where you're at. 643 00:31:00,840 --> 00:31:02,560 Speaker 4: I think that you've still got a few things to 644 00:31:02,640 --> 00:31:05,760 Speaker 4: go in terms of just even mentally sorting through it 645 00:31:05,800 --> 00:31:08,680 Speaker 4: and feeling really empowered. But I really like how clear 646 00:31:08,720 --> 00:31:11,240 Speaker 4: your goals are and what you're working towards. Please stay 647 00:31:11,240 --> 00:31:12,959 Speaker 4: in contact, though, I really want to know how your 648 00:31:13,000 --> 00:31:15,040 Speaker 4: business goes and what that comes up to. I need 649 00:31:15,040 --> 00:31:17,280 Speaker 4: to know about that financial year goal of fifty grand. 650 00:31:17,400 --> 00:31:18,760 Speaker 2: Like I'm just so invested in this. 651 00:31:18,800 --> 00:31:21,760 Speaker 4: I love it, but unfortunately that is all we have 652 00:31:21,840 --> 00:31:25,040 Speaker 4: time for Today's money dost. Thank you so much for 653 00:31:25,080 --> 00:31:26,960 Speaker 4: sharing so much time with us and so much of 654 00:31:27,000 --> 00:31:27,920 Speaker 4: yourself with us. 655 00:31:28,000 --> 00:31:30,640 Speaker 2: It has been an absolute privilege anytime. 656 00:31:30,760 --> 00:31:32,800 Speaker 5: Thank you so much for having me. I appreciate it. 657 00:31:39,400 --> 00:31:41,960 Speaker 6: The advice shared on She's on the Money is general 658 00:31:42,000 --> 00:31:45,880 Speaker 6: in nature and does not consider your individual circumstances. She's 659 00:31:45,920 --> 00:31:49,360 Speaker 6: on the Money exists purely for educational purposes and should 660 00:31:49,400 --> 00:31:52,560 Speaker 6: not be relied upon to make an investment or financial decision. 661 00:31:52,960 --> 00:31:55,120 Speaker 2: If you do choose to buy a financial. 662 00:31:54,760 --> 00:31:58,760 Speaker 6: Product, read the PDS TMD and obtain appropriate financial. 663 00:31:58,360 --> 00:31:59,920 Speaker 2: Advice tailored towards your need. 664 00:32:00,480 --> 00:32:04,440 Speaker 6: Victoria Divine and She's on the Money are authorized representatives 665 00:32:04,480 --> 00:32:06,840 Speaker 6: of Money sherper P T Y L t D A 666 00:32:06,960 --> 00:32:09,880 Speaker 6: b N three two one six four nine two seven 667 00:32:09,960 --> 00:32:12,800 Speaker 6: seven zero eight a F s L four five one 668 00:32:13,000 --> 00:32:15,959 Speaker 6: two eight nine