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Speaker 1: My name's Tatasha Bamblet. I'm a proud First Nations woman

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Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya Niana,

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Speaker 1: kaka ya ya beIN ah Waka Nian our gay In

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Speaker 1: Mbina yakarum jar Dominyamka Domaga Ithawakaman damon imlan Bumba ban

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Speaker 1: Gadabomba in and now in wakah ghana on yak rum

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Speaker 1: jar Watnadaa. Hello, beautiful friends, we gather on the lands

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Speaker 1: of the Aboriginal people. We thank acknowledge and respect the

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Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure

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Speaker 1: in all the land and respect all that you see.

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Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,

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Speaker 1: bringing you the tools, knowledge and resources for you to thrive.

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Speaker 2: She's on the Money.

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Speaker 3: She's on the Money.

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Speaker 4: Hello, and welcome to She's on the Money, the podcast

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Speaker 4: that lets you be pervy about other people's money habits

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Speaker 4: for educational purposes, of course. Welcome back to another one

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Speaker 4: of our Money Darius episodes where I get the absolute

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Speaker 4: pleasure of sitting down with one of our community members

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Speaker 4: and talking all about their journey let's jump straight into it,

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Speaker 4: because this week I got a message and it sounded

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Speaker 4: exactly like this, dear, she's on the money. I grew

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Speaker 4: up with parents on Scentlink, in a household constantly on

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Speaker 4: a budget, where credit cards and their debt were the norm.

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Speaker 4: I worked three jobs to put myself through university as

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Speaker 4: I had to move three hours away to a major

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Speaker 4: capital city. By doing this, I am proud to say

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Speaker 4: I broke the cycle of welfare with education. I now

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Speaker 4: earn one hundred and forty thousand dollars a year as

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Speaker 4: a teacher. I have two hundred and forty thousand dollars

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Speaker 4: in superannuation, a one hundred and ten ten thousand dollars

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Speaker 4: in shares, and two properties with my husband, and I

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Speaker 4: am currently on maternity leave with my second daughter. Despite

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Speaker 4: what we've achieved, my husband and I still have a

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Speaker 4: scarcity mindset with money, but we're working together to ensure

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Speaker 4: that our daughters have the best life possible. If I

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Speaker 4: can get to this place, anyone can money.

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Speaker 2: Naris, I'm so excited about this. Thank you. I'm excited

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Speaker 2: to hearing it back, like, Wow, that's pretty impressive and

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Speaker 2: you're thirty four, Like, look, what you've done. What do

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Speaker 2: your parents think of this? Well, that's actually interesting because

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Speaker 2: my mom I can't talk to her about money. She

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Speaker 2: gets really she feels like we're judging her if we

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Speaker 2: ever bring up money, or that we live differently to

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Speaker 2: how she lived, So I can't share a lot of

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Speaker 2: my money wins with her, which is really sad.

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Speaker 4: Actually, yeah, I'm sorry that's the case, but that's one

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Speaker 4: of the reasons I ask, because I think your parents

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Speaker 4: are probably insanely proud of you, like insanely so, but

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Speaker 4: the reality is it can be quite confronting when you're

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Speaker 4: child kind of overtakes you. Yes, yeah, and you see

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Speaker 4: this a lot where and like, that's not how you

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Speaker 4: see it. I know you don't see it that way,

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Speaker 4: but like parents, I think, inherently, and this is probably

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Speaker 4: because she cares so much about you, inherently want to

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Speaker 4: give their kids better than they had, and then when

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Speaker 4: they realize that you've had to create that on your own,

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Speaker 4: they kind of don't like hearing about it because it

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Speaker 4: feels confrontational.

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Speaker 2: Yeah, you've totally hit the nail on the head. It

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Speaker 2: does feel confrontational for her, and she is still struggling.

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Speaker 2: No it's not like you're not going, oh, look what

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Speaker 2: we've done. It's like, I'm so proud of myself exactly exactly.

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Speaker 2: So before we get any further, I want to know

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Speaker 2: what grade would you give your money habits from A

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Speaker 2: through to F. If I asked you to give them

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Speaker 2: a grade, I'm going to say an amnus. I think

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Speaker 2: we're doing very well, but we're not a plus. You

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Speaker 2: know what. We'll get to that.

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Speaker 4: But like hearing your letter in, I'm like, oh, this

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Speaker 4: is going to be so good and so motivating, because

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Speaker 4: you know, we share money diaries all across the board,

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Speaker 4: from people who are living on centralink to people who millionaires,

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Speaker 4: and I feel so grateful to be able to share

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Speaker 4: those stories. But sometimes you just want one that you

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Speaker 4: go that could easily be me, Like I could do that, because,

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Speaker 4: like you know, not all of us are willing to

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Speaker 4: move to San Francisco for a tech job, like that's

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Speaker 4: probably too much, but you know what we could do

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Speaker 4: go back to university in our own country. So I

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Speaker 4: want to know before we get any further, talk to me,

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Speaker 4: what's your money story look like?

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Speaker 2: Well, I suppose it definitely starts with my parents, which

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Speaker 2: is they were on Centerlink when I was growing up,

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Speaker 2: and money was very very tight. It was a constant budget.

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Speaker 2: My mom had envelopes with all of our weekly spendings

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Speaker 2: on the envelopes. See that's good. That's a good system.

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Speaker 2: It was a great system. But it was like, you know,

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Speaker 2: if there's no money in this envelope, we don't have

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Speaker 2: money to be able to buy new clothes, buy new books,

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Speaker 2: buy the food that I maybe wanted. So it definitely

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Speaker 2: taught me the value of a dollar and the ability budget.

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Speaker 2: But money was definitely really tight. I did actually go

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Speaker 2: to a private school, but I went on scholarship and

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Speaker 2: that really turned it around. So I guess I kind

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Speaker 2: of had like two I could see how life could

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Speaker 2: be if my parents had money because I was around

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Speaker 2: affluent students, like my peers were very affluent. They came

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Speaker 2: from very well background, and I felt a little bit

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Speaker 2: isolated and alienated that I didn't have that.

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Speaker 4: Yeah, I went to a Catholic school, which is kind

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Speaker 4: of like I guess the middle ground of like a

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Speaker 4: public and a private school. Like growing up, we definitely

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Speaker 4: didn't have the cash for me to be going to

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Speaker 4: a private school, So like Catholic school was perfect.

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Speaker 2: It did the job.

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Speaker 4: But because of the location I was in, there was

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Speaker 4: lots of affluent people at my school, and it was

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Speaker 4: I found it really confronting. Like there's me who you know,

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Speaker 4: I'm saving up and hopefully one day I would be

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Speaker 4: able to buy my very first car, and like they're

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Speaker 4: being gifted BMW's for their sixteenth birth day. And I

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Speaker 4: remember just like obviously not wanting the same, but just

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Speaker 4: being mind blown that that would even be a thing.

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Speaker 2: I agree, and that people had that extra cash that

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Speaker 2: they could buy their child a car, or they could

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Speaker 2: go in a European holiday. It just blew my mind

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Speaker 2: that that's how some people lived.

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Speaker 4: Yeah, I remember, and this is me diving into mine,

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Speaker 4: And I'm sorry for taking your money, Darve, but I

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Speaker 4: feel like this maybe you'll pull more of yours out.

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Speaker 4: I remember, like, you know, being early teenage years, you know,

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Speaker 4: at this school, going to friends' houses and being like,

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Speaker 4: oh wow, you basically live in like a two story mansion,

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Speaker 4: and like, when you're the younger teen, the wealth disparity

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Speaker 4: isn't that obvious because you're like twelve, thirteen, fourteen, you're

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Speaker 4: kind of into Hillary Duff together.

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Speaker 2: Yep, we're all singing into our microphone, hair phone.

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Speaker 4: One hundred percent, and then like you start to talk

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Speaker 4: about cars and stuff like that because you're sixteen and

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Speaker 4: you're getting your learners, and like that's where things start

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Speaker 4: to like go differently. I don't know if you did

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Speaker 4: the Debutante ball, but we had that and I remember

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Speaker 4: that was like financially, remember being like I made my dress.

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Speaker 4: That was what we could afford and what made sense.

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Speaker 4: But I remember all the girls talking about the local

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Speaker 4: bridal boutique that did it, and I was like, that

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Speaker 4: would never be me anyway.

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Speaker 2: Is that similar? That is so like you've hit the

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Speaker 2: nail on the head with that. And even like people

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Speaker 2: had double doors, like fridges, double doors. Oh my god.

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Speaker 4: I was saying this to the team the other day.

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Speaker 4: We should do a thread in our Facebook group of

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Speaker 4: like what are signs that you're rich? But I was like,

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Speaker 4: I don't know how to word it, so people take

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Speaker 4: me for what it is, not for like, what are

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Speaker 4: signs you rich?

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Speaker 2: You've got money? No? No, no, you.

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Speaker 4: Had to me if you had the French doors on

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Speaker 4: your fridge, if your fridge wasn't white, yes, you know

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Speaker 4: those people that had the water machine or the front

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Speaker 4: of the fridge or the ice rich.

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Speaker 2: Oh my gosh, I just so envious, so envious of that. Rich.

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Speaker 4: Yeah, what do you mean you have not home brand

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Speaker 4: tomato sauce bridge yep?

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Speaker 2: Literally, or like you don't have to go to the

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Speaker 2: local bakery when they've like thrown out their pies and like,

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Speaker 2: get it through. We're not all going down at six thirty. Oh,

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Speaker 2: that's so weird, weird, so weird.

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Speaker 4: Yeah, And like I was grateful, Like, don't get me wrong,

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Speaker 4: Like my parents weren't on Centerlink. I feel like I

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Speaker 4: might have had that like slight step up. We're definitely

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Speaker 4: middle class, but like I feel like there's just so

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Speaker 4: many wealth indicators that kids see. You're like, oh, you've

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Speaker 4: got electric windows in your car, rich.

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Speaker 2: Yeah, look at me winding it down with my big arm.

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Speaker 4: Yeah.

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Speaker 2: Right, So tell me more about that.

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Speaker 4: Growing up going to a private school, it's obviously like

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Speaker 4: a very stuck contrast.

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Speaker 2: But what happened at the end of high school. At

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Speaker 2: the end of high school, I got into A and

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Speaker 2: U and I was like, yay, I get to move

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Speaker 2: to Canberra. I get to go and meet some new friends,

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Speaker 2: and I, you know, hopefully get to change the trajectory

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Speaker 2: of my life and get out of this this welfare cycle.

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Speaker 2: And so I did, but that came with hardship financially

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Speaker 2: because I was obviously moving three hours away from home.

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Speaker 2: I was living in a rental accommodation on campus. I

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Speaker 2: had two jobs when I was doing my HSC, so

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Speaker 2: I was able to save quite a bit of savings

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Speaker 2: and squirrel that away so I didn't have to work

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Speaker 2: for the first six months of UNI.

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Speaker 4: How did you know, Sorry, if we go back, like, yes,

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Speaker 4: you got to go to a private school, But at

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Speaker 4: what point were you like, Okay, I can see both

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Speaker 4: of my parents are on standlink and I can finally

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Speaker 4: see that that's not what I want for me. How

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Speaker 4: old were you at that point? Because I feel like

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Speaker 4: some of us just go, well, that's the way life is.

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Speaker 2: Yeah. And being a teacher now, I see some students

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Speaker 2: that had that mentality that they're like, oh, well, my

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Speaker 2: parents are on centlink. I'll just get that. But I

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Speaker 2: think I was probably about maybe thirteen or fourteen when

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Speaker 2: I started at my first job, which was at a cafe.

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Speaker 2: I saw that I could buy things that I wanted,

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Speaker 2: or I could Yeah, save up for things that my

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Speaker 2: parents wouldn't be able to afford on their Center Link payments.

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Speaker 2: So I just was like, well, you know, life's expensive,

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Speaker 2: and I want more for my life. I want to

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Speaker 2: be comfortable. I want to be able to buy a house,

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Speaker 2: and I don't want this for my children. That was

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Speaker 2: really big for me, Like, I want to be providing

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Speaker 2: a good role model to my future children, and you've

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Speaker 2: done that. How cool is that? A baby? You would

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Speaker 2: be so proud. She would be she'd be over the moon. Oh,

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Speaker 2: she'd be stoked.

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Speaker 4: So you know, you moved to camera, you didn't have

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Speaker 4: to work for the first six months.

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Speaker 2: What happens next? Then I was like, oh my gosh,

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Speaker 2: I have no money. I've been partying too hard. I've

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Speaker 2: had too many vodka raspberries. I need to Reina back

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Speaker 2: in and I need to be able to pay my

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Speaker 2: rent and still have a lifestyle. So I got a

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Speaker 2: really fabulous job at like a Tatasol's. I was selling

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Speaker 2: lotto tickets and I actually sold a ten million dollar

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Speaker 2: winning powerball ticket. Oh my god, ten million dollars. It

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Speaker 2: was ten million dollars. Yeah, it was crazy, And did

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Speaker 2: you go that was that guy? And then he came

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Speaker 2: back in or like what happens there. He wrote a letter.

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Speaker 2: It was obviously an older person because they wanted to

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Speaker 2: remain anonymous, but you could tell with the writing that

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Speaker 2: it was an older person, and they thanked us for

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Speaker 2: selling them the ticket. They described who the person that

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Speaker 2: sold the ticket, and they gave us I think it

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Speaker 2: was one thousand dollars and we just shared it amongst

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Speaker 2: everyone who worked there. So that was really really kind

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Speaker 2: of them.

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Speaker 4: That's so wild. But I'm always girl, I'm she's on

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Speaker 4: the money. I need to know who won. I know

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Speaker 4: what did they do with their winning? You know, I

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Speaker 4: just need to know.

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Speaker 2: Ten million dollars is not just a lot of money.

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Speaker 2: That's like a life trajectory amount of money. That's insane

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Speaker 2: to me. I agree, But in saying that, I think

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Speaker 2: that that job really taught me a bit about money too,

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Speaker 2: because some people who actually won or got like second

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Speaker 2: division or there was a first division winner. He actually

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Speaker 2: kept like gambling and he used all of his earnings

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Speaker 2: because he was like chasing that high. He wanted to

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Speaker 2: win again. And it was really sad to see all

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Speaker 2: the same people coming in every week spending hundreds of

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Speaker 2: dollars on money that they were just kind of throwing

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Speaker 2: down the drain. So that was interesting.

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Speaker 4: Research actually tells us that you significantly increase your probability

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Speaker 4: of going broke if you win.

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Speaker 2: Yeah. It's crazy, isn't them because you think it would

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Speaker 2: be the opposite.

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Speaker 4: Yeah, it's actually crazy. You would think that it would

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Speaker 4: change the trajectory of your life. But I think that

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Speaker 4: goes back to that quote, which I've said a million

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Speaker 4: times and is it not my quote?

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Speaker 2: I stole this from the internet. But like, if you.

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Speaker 4: Can't manage one hundred dollars, you can't manage ten thousand dollars,

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Speaker 4: And like, that's just it. It's these people who arguably you

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Speaker 4: saw it, they can't actually manage money. They're not very

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Speaker 4: good at it. They're spending a lot of money on

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Speaker 4: the pokes basically, and then they win ten million dollars.

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Speaker 4: They don't know what to do with that responsibly, and

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Speaker 4: they go, well, I could win more, it's still fun.

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Speaker 2: Yeah, and so then they just squander it all, which

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Speaker 2: is crazy. My goodness. So that taught you a lot

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Speaker 2: about money. Yeah, So got that job, but then I

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Speaker 2: ended up getting two other jobs, so I had three

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Speaker 2: jobs while doing UNI, which was wild and full time UNI.

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Speaker 4: I should say, oh, I did the same thing, and

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Speaker 4: now that I look, I'm also thirty four.

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Speaker 2: I look back at it and I just go, how

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Speaker 2: did you have the time?

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Speaker 4: Like last night, I had to be in bed by

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Speaker 4: eight thirty, not because I had a time limit on me,

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Speaker 4: but because that's the time that I was crashing out

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Speaker 4: and I said to my husband, you finished this TV series,

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Speaker 4: I'll me in bed.

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Speaker 2: I'm so tight. Sorry.

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Speaker 4: I didn't leave the house sin til ten pm. Back then,

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Speaker 4: I wasn't coming home from working.

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Speaker 2: Till like eleven twelve. Like, what do you mean I

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Speaker 2: could function like that? It's wild. Youth is just wasted

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Speaker 2: on the youth is all I can say. I'm with

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Speaker 2: you on the eight thirty, especially having two children, I'm like,

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Speaker 2: they're in bed. I need to go to sleep. I'm exhausted. Yeah,

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Speaker 2: if my kid is up late, it's not Oh no,

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Speaker 2: like Harvey's not getting sleep. I'm thinking, dude, I'm meant

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Speaker 2: to be in bed. What are you doing? Yeah? Literally,

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Speaker 2: it's rude. If you're up past nine, that's sorry, that's

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Speaker 2: really late. Yeah, I'm like, what is this midnight on

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Speaker 2: a week night, No, that's school night literally, So long

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Speaker 2: story short, I worked my ass off and I put

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Speaker 2: myself through UNI, including placements.

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Speaker 4: And you don't get for teaching placements, which one rude,

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Speaker 4: but two like you would have had to work your

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Speaker 4: butt off to then be able to afford the time

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Speaker 4: for those.

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Speaker 2: Yeah, and I had to save up enough to be

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Speaker 2: able to still cover my rent and my food. And

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Speaker 2: I worked on the weekends as well, so I was teaching,

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Speaker 2: like doing my placement all through the week, and then

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Speaker 2: on the weekends I'd be working at my normal jobs

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Speaker 2: as well, an icon.

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Speaker 4: And then you finish ally placements and you get to

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Speaker 4: become a teacher. Tell me what was your first job where?

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Speaker 2: When?

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Speaker 4: Not like not actually where, but like what kind of

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Speaker 4: teaching role did you land?

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Speaker 2: I am qualified in English and hissing teaching. So I

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Speaker 2: started my teaching in a small country town in New

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Speaker 2: South Wales and I was there for a year and

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Speaker 2: a little bit and then I ended up moving back

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Speaker 2: to Canberra and I got a permanent job there and

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Speaker 2: I've just been teaching for I think this is my

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Speaker 2: twelfth twelfth year now, and I'm now a coordinator. I

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Speaker 2: look after a lot of kids and there will be,

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Speaker 2: which is pretty cool.

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Speaker 4: Of course you do. You're just a good human doing

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Speaker 4: good things. I love this so much. Tell me a

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Speaker 4: little bit more. You've met your husband?

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Speaker 2: I did when where? Like, how do we meet a

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Speaker 2: husband in I don't know when? Well, we actually met

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Speaker 2: on Tinder?

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Speaker 4: Oh my god, I met my husband on Tinder? Biggest fan?

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Speaker 4: Were you really embarrassed of that too at the start?

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Speaker 4: So you'd be like, oh, no, I do, don't now,

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Speaker 4: I'll just tell everyone.

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Speaker 2: But like, and it came out at our wedding, like

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Speaker 2: at our wedding speech. Oh, I like me too. And

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Speaker 2: it wasn't even Steve or I. It was our wedding celebrant. Oh.

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Speaker 4: She made this comment about like they both swiped right

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Speaker 4: and it was love or something, and both Steve and

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Speaker 4: I like, we're standing at the end of the aisle

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Speaker 4: kind of looking at each other because we'd told family

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Speaker 4: that we'd met through friends, you know, just three friends.

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Speaker 4: We've met three friends, and so later Mom's like, what

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Speaker 4: do you mean? Because like later she made a comment

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Speaker 4: as well, because we had the same wedding celebrant be

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Speaker 4: our EMC, and she made a comment about me looking

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Speaker 4: like the perfect Tinderella.

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Speaker 2: We like, just simmer down, girlfriend, Like, stop with the jokes.

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Speaker 2: I was like, I don't lie about much. But it

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Speaker 2: turns out what I have lied about is coming out

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Speaker 2: at my own wedding. I feel like it's a lot

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Speaker 2: of people our age that was very embarrassed about meeting

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Speaker 2: people online. Well, when we met through friends, it was

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Speaker 2: you who introduced Steve and I and I introduced you

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Speaker 2: and your partner. Yet yep, that's exactly what happened the

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Speaker 2: MC she got it wrong. Yeah, exactly wrong. So you

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Speaker 2: met your pathna on Tinder. How long have you been together?

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Speaker 2: We have been together for almost ten years. Actually, oh

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Speaker 2: my goodness, same as Steve and I. So cute. My gosh,

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Speaker 2: this is weird. And we've been married for like I

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Speaker 2: think four four years are very cute.

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Speaker 4: So tell me a bit more about like the money

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Speaker 4: side of things, because now you're an adult, you've got

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Speaker 4: an adult salary, you now have a husband, you're married.

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Speaker 4: How are we managing money as a couple, Like, what

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Speaker 4: does that actually look like?

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Speaker 2: So we somewhat combine our finances but somewhat keep them

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Speaker 2: separate because where both parents have divorced as well, which

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Speaker 2: adds kind of a layer of complexity with our money stories.

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Speaker 2: I feel because I have seen my mom go through

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Speaker 2: a horrible divorce and she lost so much money, so

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Speaker 2: she lost her super as well. So I've said to

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Speaker 2: my husband, like, obviously, I'm not planning to divorce you

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Speaker 2: at any point in time, but I want to make

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Speaker 2: sure that there's a safety net for me.

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Speaker 4: I want to, like, if for some reason, you go

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Speaker 4: to a Coldplay concert, I need to be able to

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Speaker 4: kick you out of.

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Speaker 2: The house totally. Like I want to have financial options

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Speaker 2: and financial security. So we have some joint accounts, but

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Speaker 2: we still have our own personal accounts as well, but

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Speaker 2: having two children, two morgages, like, obviously we can't keep

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Speaker 2: things super duper separate, but there is a real delineation

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Speaker 2: as well, so I know what is my savings and

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Speaker 2: what is his savings, and if anything were to happen,

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Speaker 2: we would know how to, you know, part ways amicably

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Speaker 2: with that.

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Speaker 4: That sounds honestly ex Financial Advisor music to my ears,

378
00:18:02,760 --> 00:18:05,919
Speaker 4: Like it just sounds so sexy, like just the idea

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Speaker 4: that you're like, oh, like we do it altogether. Life

380
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Speaker 4: is together, but like I'm financially secure in my own

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Speaker 4: right and if I.

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Speaker 2: Wanted to, like, you know what, and it sounds morbid, right,

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Speaker 2: but if you wanted to walk out, you could, Yeah, totally.

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Speaker 4: It's not the finances that are going to stop you.

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Speaker 4: It's the fact that your bloody's still in love with him,

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Speaker 4: damn it.

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Speaker 2: The thing that I feel that you'll be very proud

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Speaker 2: of me was when I went on my first maternity leave,

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Speaker 2: I said to my husband, I'm not paying for anything

390
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Speaker 2: like that's on you. And all of my maternity pay

391
00:18:32,160 --> 00:18:35,600
Speaker 2: is going to go into my super and my shares

392
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Speaker 2: because I'm taking my back burner with my career for

393
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Speaker 2: you know, this period of time, and I don't want

394
00:18:42,280 --> 00:18:44,800
Speaker 2: to be negatively impacted. So that was a big thing

395
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Speaker 2: for me.

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Speaker 4: I love you so much. This makes me so happy.

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Speaker 4: Tell me you're a coordinator and a teacher. How much

398
00:18:52,680 --> 00:18:53,440
Speaker 4: money do you earn?

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Speaker 2: I earn roughly one hundred and forty thousand pre tax,

400
00:18:57,680 --> 00:19:00,959
Speaker 2: but they've actually just put through a new enterprise agreement,

401
00:19:01,040 --> 00:19:03,879
Speaker 2: so I think it will be going up slightly. But

402
00:19:04,160 --> 00:19:06,800
Speaker 2: because I'm on maternity leave, I'm not exactly sure what

403
00:19:06,840 --> 00:19:07,399
Speaker 2: that looks like.

404
00:19:07,640 --> 00:19:09,680
Speaker 4: Yeah, I know, because you wouldn't have been a part

405
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Speaker 4: of all the meetings and stuff. Do you get SUPER

406
00:19:11,920 --> 00:19:13,800
Speaker 4: on top of that or is that included in your

407
00:19:13,800 --> 00:19:15,560
Speaker 4: one forty that is on top of it?

408
00:19:15,600 --> 00:19:16,880
Speaker 2: Oh? Very nice?

409
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Speaker 4: And like, is that how you've earned so much in Super?

410
00:19:20,320 --> 00:19:22,920
Speaker 4: Because you have two hundred and forty thousand dollars in Super? Girlfriend,

411
00:19:23,040 --> 00:19:26,640
Speaker 4: have you been doing like lots of additional contributions or yes?

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Speaker 2: So I guess this is kind of going down the

413
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Speaker 2: line a little bit. But I know that you're going

414
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Speaker 2: to ask me what my best money habit is. Don't

415
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Speaker 2: spoil it. I've got a structure, I know, but this

416
00:19:37,880 --> 00:19:40,240
Speaker 2: is my best spending habit. Yeah, yea, yea. My best

417
00:19:40,240 --> 00:19:43,040
Speaker 2: money habit was after I paid off my hex stet,

418
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Speaker 2: I didn't cancel the payments coming out from my employer

419
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Speaker 2: pulling out the payments for my HEX and so the

420
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Speaker 2: next financial year I got a massive lump sum. I

421
00:19:52,240 --> 00:19:55,000
Speaker 2: think it was like sixteen thousand dollars or something, and

422
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Speaker 2: I actually put that to the side, and then I

423
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Speaker 2: started doing voluntary super contributions and both my husband and

424
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Speaker 2: I have maxed out our SUPER contributions for the last

425
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Speaker 2: I want to say, five years, so we don't have

426
00:20:09,040 --> 00:20:12,280
Speaker 2: anything for next year except for the next financial year

427
00:20:12,520 --> 00:20:15,000
Speaker 2: because we've done everything that we can. Where did you

428
00:20:15,080 --> 00:20:19,639
Speaker 2: learn this? You and my husband, he's very financially literate.

429
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Speaker 2: I'm very lucky. Yeah, you said.

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Speaker 4: Look, I grew up in a Centerlink family, and like, yes,

431
00:20:25,040 --> 00:20:27,080
Speaker 4: I think we all want better for ourselves, but to

432
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Speaker 4: not only get better, to not only go to university,

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Speaker 4: but to have this level of financial literacy, Like girl,

434
00:20:32,560 --> 00:20:34,159
Speaker 4: what you are changing the world?

435
00:20:34,359 --> 00:20:38,320
Speaker 2: Oh? Thank you. I am very passionate about especially SUPER

436
00:20:38,320 --> 00:20:42,200
Speaker 2: contributions for females that are taking MATT leave. And when

437
00:20:42,240 --> 00:20:46,600
Speaker 2: I was going through my little notes for preparing for this,

438
00:20:46,800 --> 00:20:49,639
Speaker 2: I worked out how much my SUPER jumped. In twenty

439
00:20:49,680 --> 00:20:52,040
Speaker 2: twenty two, I had one hundred thousand dollars in SUPER,

440
00:20:52,600 --> 00:20:55,000
Speaker 2: and so in twenty twenty five, I have two hundred

441
00:20:55,040 --> 00:20:58,680
Speaker 2: and forty three thousand. Stop it, I'm maxing it out.

442
00:20:58,720 --> 00:21:01,359
Speaker 4: So when she says she's maxing out, Superannuation has a

443
00:21:01,400 --> 00:21:04,760
Speaker 4: contribution cap right now of thirty thousand dollars a year,

444
00:21:05,080 --> 00:21:07,920
Speaker 4: it's that just your contributions of thirty grand a year

445
00:21:08,080 --> 00:21:10,120
Speaker 4: plus compound interest.

446
00:21:10,400 --> 00:21:13,840
Speaker 2: Yeah, and it's roughly about fifty thousand in compound interests.

447
00:21:13,880 --> 00:21:15,760
Speaker 2: So I just wanted to like share that with people

448
00:21:15,800 --> 00:21:18,000
Speaker 2: because I think, you go, oh my god, it's so

449
00:21:18,040 --> 00:21:20,159
Speaker 2: hard to get to that first hundred thousand, but it

450
00:21:20,200 --> 00:21:21,240
Speaker 2: really does snowball.

451
00:21:21,520 --> 00:21:23,719
Speaker 4: Yeah, and this is going to sound to a lot

452
00:21:23,760 --> 00:21:26,119
Speaker 4: of people who are just not at that spot yet.

453
00:21:26,280 --> 00:21:29,560
Speaker 4: Your first hundred thousand, when we're creating wealth is the hardest,

454
00:21:30,040 --> 00:21:32,240
Speaker 4: like whether that is the first hundred thousand for your

455
00:21:32,240 --> 00:21:35,880
Speaker 4: home deposit or your investments, Like, and it sounds because

456
00:21:35,920 --> 00:21:38,000
Speaker 4: like people like but Va, I don't even have a thousand.

457
00:21:38,040 --> 00:21:38,440
Speaker 2: I get it.

458
00:21:38,480 --> 00:21:40,280
Speaker 4: We're in the middle of a cost of living crisis.

459
00:21:40,320 --> 00:21:43,439
Speaker 4: So like, don't think I'm being insensitive. But the second

460
00:21:43,480 --> 00:21:47,480
Speaker 4: you hit that, it's kind of like genuinely, the snowball

461
00:21:47,480 --> 00:21:50,239
Speaker 4: effects starts to really compound. It's not because you have

462
00:21:50,320 --> 00:21:53,320
Speaker 4: more money to contribute, it's because that one hundred thousand

463
00:21:53,359 --> 00:21:55,639
Speaker 4: dollars ten percent return is ten grand.

464
00:21:55,800 --> 00:21:59,399
Speaker 2: Yeah, like that starts to become really powerful. It does.

465
00:21:59,520 --> 00:22:02,000
Speaker 2: It really does. So yeah, that's why I wanted to

466
00:22:02,080 --> 00:22:04,480
Speaker 2: really share those numbers because for me, I was like,

467
00:22:04,480 --> 00:22:05,600
Speaker 2: oh my god, I'm never going to get to this

468
00:22:05,640 --> 00:22:08,879
Speaker 2: one hundred grand, Like it took so long, and now

469
00:22:08,920 --> 00:22:10,359
Speaker 2: I'm really seeing the benefits.

470
00:22:10,520 --> 00:22:12,919
Speaker 4: She's going to be worth millions when she retires. Guys,

471
00:22:12,960 --> 00:22:17,760
Speaker 4: it's lucky. She's anonymous, Like, it's lucky. So what are

472
00:22:17,760 --> 00:22:20,159
Speaker 4: your big money goals? You said in passing that you

473
00:22:20,160 --> 00:22:22,800
Speaker 4: have two mortgages, you've obviously got a really good salary,

474
00:22:22,840 --> 00:22:25,399
Speaker 4: you've got soupy, you've got shares, Like, what are your

475
00:22:25,440 --> 00:22:27,520
Speaker 4: big money goals? What are you currently working towards?

476
00:22:27,680 --> 00:22:32,320
Speaker 2: Well, we are a little bit unsure about our long

477
00:22:32,440 --> 00:22:36,840
Speaker 2: term primary property because we've got two little girls and

478
00:22:36,960 --> 00:22:40,440
Speaker 2: we're hoping to have a third one day, so it's

479
00:22:40,480 --> 00:22:43,000
Speaker 2: a bit exciting, but we're like, oh my gosh, our

480
00:22:43,000 --> 00:22:46,840
Speaker 2: house is too small because we bought the worst house

481
00:22:46,880 --> 00:22:50,479
Speaker 2: in a best location to have a lower mortgage while

482
00:22:51,000 --> 00:22:53,879
Speaker 2: I was on maternity leave. So now we're tossing up

483
00:22:53,920 --> 00:22:57,520
Speaker 2: whether we're going to potentially save up and get some

484
00:22:57,640 --> 00:23:00,520
Speaker 2: acreage and get a bigger house that way, or whether

485
00:23:00,520 --> 00:23:04,320
Speaker 2: we're going to do a renovation on our investment property

486
00:23:04,320 --> 00:23:06,879
Speaker 2: because it's a beautiful old house, like it's a nineteen

487
00:23:06,960 --> 00:23:09,800
Speaker 2: ten's house and we can put a big renovation out

488
00:23:09,800 --> 00:23:11,720
Speaker 2: of the back and have this beautiful family home. So

489
00:23:11,880 --> 00:23:14,359
Speaker 2: that's kind of what we're thinking about.

490
00:23:14,520 --> 00:23:16,920
Speaker 4: Yeah, and it's a hard decision to make as well,

491
00:23:16,960 --> 00:23:20,080
Speaker 4: because at that point, and at this point in the market,

492
00:23:20,080 --> 00:23:24,000
Speaker 4: renovating's really expensive. Acreage is also really expensive. But we're

493
00:23:24,040 --> 00:23:26,800
Speaker 4: also talking about your family home, not an investment, so

494
00:23:26,880 --> 00:23:29,600
Speaker 4: it's then seen as a different thing again. And it's

495
00:23:29,680 --> 00:23:32,160
Speaker 4: kind of like, you know, not going to be flippant

496
00:23:32,160 --> 00:23:34,399
Speaker 4: with money, but like if you spend a couple of

497
00:23:34,520 --> 00:23:37,520
Speaker 4: hundred thousand dollars more and you get exactly what you want,

498
00:23:37,520 --> 00:23:38,399
Speaker 4: but it's for your.

499
00:23:38,320 --> 00:23:39,840
Speaker 2: Life, it's worth it.

500
00:23:39,840 --> 00:23:42,919
Speaker 4: It's worth it. Yeah, it's a hard thing. It's a

501
00:23:43,040 --> 00:23:44,080
Speaker 4: very hard thing to do.

502
00:23:44,200 --> 00:23:47,640
Speaker 2: And I guess personally as well, I'm hoping to hit

503
00:23:47,720 --> 00:23:51,560
Speaker 2: that two hundred thousand dollars share portfolio probably in like

504
00:23:51,720 --> 00:23:55,159
Speaker 2: three years time. I'm hoping, maybe, I have no doubt.

505
00:23:55,240 --> 00:23:56,840
Speaker 2: I have no doubt. I can't wait.

506
00:23:56,880 --> 00:23:59,480
Speaker 4: All right, let's go to a really quick break because girl,

507
00:23:59,560 --> 00:24:01,879
Speaker 4: I have a lot of questions about your superannuation. I

508
00:24:01,960 --> 00:24:04,680
Speaker 4: need to know so much more about your share portfolio.

509
00:24:04,920 --> 00:24:06,439
Speaker 4: And I mean, I would say we're getting to your

510
00:24:06,440 --> 00:24:08,240
Speaker 4: best and worst money habits, but we're only going to

511
00:24:08,280 --> 00:24:10,520
Speaker 4: get to your worst because you already shared your best.

512
00:24:10,600 --> 00:24:17,879
Speaker 4: So guys, don't go anywhere money darist. We are back

513
00:24:18,000 --> 00:24:19,960
Speaker 4: and this chat. I feel like you and I are

514
00:24:19,960 --> 00:24:22,080
Speaker 4: two peas in a pod. Like we are quite similar

515
00:24:22,119 --> 00:24:25,240
Speaker 4: in terms of like upbringing out values, what we're doing,

516
00:24:25,640 --> 00:24:27,760
Speaker 4: and the fact that we both love the share market.

517
00:24:27,920 --> 00:24:30,800
Speaker 4: You have two hundred and forty thousand dollars in your

518
00:24:30,800 --> 00:24:34,159
Speaker 4: superannuation and you have one hundred and ten thousand dollars

519
00:24:34,480 --> 00:24:37,120
Speaker 4: in a share portfolio. I want to know how did

520
00:24:37,119 --> 00:24:39,879
Speaker 4: you start investing when we're why just all of the

521
00:24:39,960 --> 00:24:40,959
Speaker 4: dirty details.

522
00:24:41,200 --> 00:24:45,639
Speaker 2: I started investing after listening to your podcast series on

523
00:24:45,760 --> 00:24:48,359
Speaker 2: investing stop it. Yeah. Literally, I thought you were going

524
00:24:48,400 --> 00:24:50,600
Speaker 2: to say, oh, my husband like set me up and

525
00:24:51,160 --> 00:24:53,959
Speaker 2: he was trying to do for years, years And he's like,

526
00:24:54,440 --> 00:24:57,240
Speaker 2: you listen to Victoria like once and then you're setting

527
00:24:57,280 --> 00:24:58,960
Speaker 2: up a comseck account like I've been trying to get

528
00:24:59,000 --> 00:25:00,760
Speaker 2: you to invest for year. And I was like, well,

529
00:25:00,840 --> 00:25:02,120
Speaker 2: she just knows what she's talking about.

530
00:25:02,160 --> 00:25:03,840
Speaker 4: Well, it's not even that I know what I'm talking about.

531
00:25:03,880 --> 00:25:05,920
Speaker 4: I'm just a girl, ye Like, and if I can

532
00:25:05,960 --> 00:25:08,760
Speaker 4: do it, can't be that hard, right, And when your

533
00:25:08,840 --> 00:25:11,000
Speaker 4: husband says do it, it's probably complex.

534
00:25:12,640 --> 00:25:14,080
Speaker 2: Yeah, you gave me the kick up the butt and

535
00:25:14,119 --> 00:25:17,400
Speaker 2: I was like, okay, Like I've got some money sitting aside,

536
00:25:17,840 --> 00:25:20,439
Speaker 2: like let's do this, like let's see how it goes.

537
00:25:21,000 --> 00:25:24,440
Speaker 2: And then it got kind of addictive, I suppose. And

538
00:25:24,800 --> 00:25:27,600
Speaker 2: I was going through because when I was listening to

539
00:25:27,680 --> 00:25:31,800
Speaker 2: your podcast series about investing and about like short term

540
00:25:31,840 --> 00:25:35,320
Speaker 2: long term goals, I had a quick look back through them,

541
00:25:35,440 --> 00:25:37,760
Speaker 2: and you have my long term goal at the time.

542
00:25:37,840 --> 00:25:41,439
Speaker 2: This was in twenty twenty one. Stop it. This is

543
00:25:41,480 --> 00:25:43,800
Speaker 2: so cute. You've got like a diary in front of

544
00:25:43,880 --> 00:25:46,720
Speaker 2: you with your goals. I love it. So twenty twenty one,

545
00:25:46,760 --> 00:25:49,000
Speaker 2: what was the goal? So short term was to renovated

546
00:25:49,000 --> 00:25:51,800
Speaker 2: the bathroom that hasn't happened, which is quite hilarious because

547
00:25:52,160 --> 00:25:55,560
Speaker 2: midterm buying an investment property. We've done that. And to

548
00:25:55,600 --> 00:25:57,600
Speaker 2: have enough money for a year off to have a baby.

549
00:25:57,640 --> 00:26:00,119
Speaker 2: We've done that. And our long term goal was to

550
00:26:00,119 --> 00:26:02,840
Speaker 2: have one hundred k invested in ten years time in shares,

551
00:26:02,840 --> 00:26:05,200
Speaker 2: and I did that in three slightly.

552
00:26:05,760 --> 00:26:09,919
Speaker 4: How have you invested one hundred grand? I think you know,

553
00:26:10,000 --> 00:26:12,480
Speaker 4: for a lot of people earning one hundred and forty

554
00:26:12,560 --> 00:26:15,800
Speaker 4: thousand dollars is a very very good salary. But also

555
00:26:15,920 --> 00:26:17,480
Speaker 4: I know a lot of people earning one hundred and

556
00:26:17,520 --> 00:26:20,240
Speaker 4: forty thousand dollars who are still struggling to make ends meet.

557
00:26:20,800 --> 00:26:22,600
Speaker 4: I need to be a baby. What does your husband

558
00:26:22,600 --> 00:26:24,960
Speaker 4: do and what does he earn? So that you were,

559
00:26:25,119 --> 00:26:28,240
Speaker 4: you know, able to invest your money into the share

560
00:26:28,280 --> 00:26:30,200
Speaker 4: market and into your super while you're on matt Leve

561
00:26:30,240 --> 00:26:31,000
Speaker 4: and stuff like that.

562
00:26:31,119 --> 00:26:35,040
Speaker 2: He is an engineer and he earns about one hundred

563
00:26:35,080 --> 00:26:38,680
Speaker 2: and ninety thousand a year. So that's how I can

564
00:26:38,880 --> 00:26:39,919
Speaker 2: is because we.

565
00:26:39,840 --> 00:26:42,840
Speaker 4: Are no But like that's good transparency because I'm like, oh,

566
00:26:42,920 --> 00:26:45,320
Speaker 4: some people are going to ask questions. I'm even starting

567
00:26:45,359 --> 00:26:47,159
Speaker 4: to go, how were you able to do that? Because like,

568
00:26:47,480 --> 00:26:51,440
Speaker 4: you know, it's not life's not cheap but very sexy.

569
00:26:51,480 --> 00:26:51,960
Speaker 2: I love that.

570
00:26:52,080 --> 00:26:54,719
Speaker 4: And also, like you matched with an engineer on Tinder

571
00:26:54,760 --> 00:26:57,919
Speaker 4: money with I know, I was like so lucky. I

572
00:26:57,920 --> 00:27:00,680
Speaker 4: didn't match with an engineer. I matched with an and antrition.

573
00:27:01,040 --> 00:27:03,640
Speaker 2: Oh I don't even know what that is. I still

574
00:27:03,680 --> 00:27:06,480
Speaker 2: don't know what that means. Yeah, yeah, let's move on.

575
00:27:07,400 --> 00:27:11,760
Speaker 4: I just know he has like a number of maths degrees, the.

576
00:27:11,760 --> 00:27:13,880
Speaker 2: Same as my husband. He's very good at maths. I'm

577
00:27:13,880 --> 00:27:16,199
Speaker 2: like good because I am not.

578
00:27:16,640 --> 00:27:18,399
Speaker 4: You actually don't have to be good at maths to

579
00:27:18,400 --> 00:27:20,720
Speaker 4: be good at investing, so we win.

580
00:27:20,960 --> 00:27:21,960
Speaker 2: Yeah, totally.

581
00:27:22,040 --> 00:27:24,840
Speaker 4: So tell me a little bit more about this investment.

582
00:27:24,880 --> 00:27:26,840
Speaker 4: You went and you've got a comm Sec account, so

583
00:27:26,880 --> 00:27:27,840
Speaker 4: you've got your account.

584
00:27:28,000 --> 00:27:28,760
Speaker 2: What are you picking?

585
00:27:29,040 --> 00:27:29,159
Speaker 1: Like?

586
00:27:29,200 --> 00:27:31,480
Speaker 2: What ETFs have we got? Why did we pick them?

587
00:27:31,640 --> 00:27:35,600
Speaker 2: I began with picking individual shares because I was just

588
00:27:35,880 --> 00:27:40,240
Speaker 2: testing out the water to see, I guess how they worked.

589
00:27:40,760 --> 00:27:45,720
Speaker 2: So I do probably have about five individual shares like Telstra,

590
00:27:46,000 --> 00:27:50,240
Speaker 2: wor Worth, but a lot of my portfolio is Vanguard

591
00:27:50,320 --> 00:27:53,479
Speaker 2: and then Vanguard for ETFs. Yes, yeah, so most of

592
00:27:53,520 --> 00:27:57,840
Speaker 2: my portfolio are ETFs. But the one that I have

593
00:27:58,000 --> 00:28:04,119
Speaker 2: loved the most is my my morning Star wide Mote ETF.

594
00:28:04,200 --> 00:28:06,680
Speaker 2: I am obsessed with that. Why do we lack that one?

595
00:28:06,800 --> 00:28:10,360
Speaker 2: Fabulous dividends? Yeah, Like we love a good dividend pay out,

596
00:28:10,359 --> 00:28:13,840
Speaker 2: don't we? Yes? And I've definitely noticed a different since

597
00:28:13,880 --> 00:28:16,720
Speaker 2: having quite a lot of that in my portfolio as well.

598
00:28:16,800 --> 00:28:18,680
Speaker 4: I think when we start to invest in it can

599
00:28:18,720 --> 00:28:21,920
Speaker 4: be so overwhelming and like this just sounds like literally,

600
00:28:21,960 --> 00:28:25,280
Speaker 4: in the nicest way possible, the most stereotypical entry. You

601
00:28:25,359 --> 00:28:28,480
Speaker 4: kind of buy a couple of like individual shares and

602
00:28:28,640 --> 00:28:31,680
Speaker 4: you're like okay, Like Telstra, Woolies, Westpac. I feel comfortable

603
00:28:31,720 --> 00:28:33,480
Speaker 4: with those, you like track them for a bit. You

604
00:28:33,480 --> 00:28:36,120
Speaker 4: get comfortable with the idea of investing, and then you're like, oh,

605
00:28:36,640 --> 00:28:38,800
Speaker 4: I've heard of the ETF thing. I'm going to start

606
00:28:38,840 --> 00:28:40,760
Speaker 4: looking at ETF and then you probably get into like

607
00:28:40,880 --> 00:28:44,560
Speaker 4: analysis paralysis mode because you're like, all right, there's morning Star,

608
00:28:44,640 --> 00:28:47,000
Speaker 4: there's Beta shares, Oh my god, there's Vanguard.

609
00:28:47,040 --> 00:28:47,640
Speaker 2: What do I do?

610
00:28:47,720 --> 00:28:50,040
Speaker 4: And like then you probably I reckon it took you

611
00:28:50,080 --> 00:28:52,920
Speaker 4: a while between individuals and ETFs, and then you do

612
00:28:53,000 --> 00:28:55,120
Speaker 4: your first ETF and you do still a little bit.

613
00:28:55,240 --> 00:28:57,920
Speaker 2: Yes, I did, like a thousand dollars and now it's

614
00:28:57,960 --> 00:29:00,239
Speaker 2: like the biggest chunk of my portfolio. But the time

615
00:29:00,280 --> 00:29:02,320
Speaker 2: I was like, oh my god, this is so much money. Oh,

616
00:29:02,400 --> 00:29:03,520
Speaker 2: like a thousand dollars.

617
00:29:03,640 --> 00:29:05,880
Speaker 4: Yeah, and then you might buy a different ETF to

618
00:29:05,960 --> 00:29:08,800
Speaker 4: test that one out, and then you start to get favorites,

619
00:29:09,240 --> 00:29:12,200
Speaker 4: and that's where we start to get our power. You're like,

620
00:29:12,400 --> 00:29:15,360
Speaker 4: you actually, it's like you went to university, but I

621
00:29:15,400 --> 00:29:18,760
Speaker 4: can almost promise you've learned more about teaching on the job, haven't.

622
00:29:18,440 --> 00:29:19,960
Speaker 2: You, oh one hundred percent?

623
00:29:20,120 --> 00:29:22,640
Speaker 4: Yeah, yeah, So it's like investing, you need to kind

624
00:29:22,640 --> 00:29:25,520
Speaker 4: of like, yes, you can learn everything from my podcast

625
00:29:25,560 --> 00:29:28,360
Speaker 4: and read my books and do my masterclass, and you're

626
00:29:28,400 --> 00:29:30,360
Speaker 4: still going to have that analysis paralysis.

627
00:29:30,360 --> 00:29:31,160
Speaker 2: You need to pull the pin.

628
00:29:31,360 --> 00:29:33,520
Speaker 4: You need to start investing, because the second you get

629
00:29:33,520 --> 00:29:34,520
Speaker 4: that confidence.

630
00:29:34,120 --> 00:29:36,800
Speaker 2: You're like, oh, this is what it is. Okay, it's

631
00:29:36,880 --> 00:29:37,400
Speaker 2: not that bad.

632
00:29:37,680 --> 00:29:39,920
Speaker 4: And now you've got one hundred and ten thousand dollars

633
00:29:39,920 --> 00:29:43,760
Speaker 4: in shares. So most is your favorite, which is through

634
00:29:43,800 --> 00:29:47,840
Speaker 4: morning Star? What Vanguard ETFs have you picked?

635
00:29:48,000 --> 00:29:52,360
Speaker 2: I have multiple, I have that so Property, I have

636
00:29:52,520 --> 00:29:56,760
Speaker 2: vas SO Australian shares. I have VIDHG, which is the

637
00:29:56,800 --> 00:30:01,400
Speaker 2: diversified high growth. I love those and they've definitely as

638
00:30:01,440 --> 00:30:04,520
Speaker 2: you would know, like their dividends are pretty consistent as well.

639
00:30:04,680 --> 00:30:06,240
Speaker 4: Yeah, no, and we love to see it and they

640
00:30:06,320 --> 00:30:10,120
Speaker 4: think that that's a really good conversation opener on let's

641
00:30:10,120 --> 00:30:11,920
Speaker 4: not just look at the share price and how much

642
00:30:11,960 --> 00:30:14,520
Speaker 4: it goes up, like, let's look at what they pay

643
00:30:14,640 --> 00:30:16,880
Speaker 4: you to own that asset long term.

644
00:30:16,680 --> 00:30:19,640
Speaker 2: And are they franked or are they not framed? And yeah,

645
00:30:19,760 --> 00:30:22,760
Speaker 2: I've definitely noticed the dividends coming in because I haven't

646
00:30:22,800 --> 00:30:25,720
Speaker 2: actually put anything into my portfolio for probably about a

647
00:30:25,800 --> 00:30:28,000
Speaker 2: year and it's still going up. They're plotting a lot.

648
00:30:28,040 --> 00:30:30,920
Speaker 4: And that's where long term, most of your compound growth

649
00:30:31,000 --> 00:30:34,280
Speaker 4: is going to come from, is the dividends being reinvested.

650
00:30:34,320 --> 00:30:36,360
Speaker 4: And that's what I mean when I say the money

651
00:30:36,360 --> 00:30:39,480
Speaker 4: that your money makes starts making money, it's your dividends

652
00:30:39,520 --> 00:30:42,120
Speaker 4: being paid out that then get reinvested, and then that

653
00:30:42,280 --> 00:30:44,960
Speaker 4: pays out and it becomes a cycle, a cycle of

654
00:30:45,040 --> 00:30:45,800
Speaker 4: becoming rich.

655
00:30:46,040 --> 00:30:49,959
Speaker 2: And that's what we wants to a cycle of poverty exactly.

656
00:30:50,240 --> 00:30:53,200
Speaker 4: So now to flip the narrative, you own two properties,

657
00:30:53,280 --> 00:30:54,200
Speaker 4: talk to me about debt.

658
00:30:54,240 --> 00:30:57,240
Speaker 2: What do you have? How does it work? So we have,

659
00:30:57,440 --> 00:31:01,640
Speaker 2: obviously our two mortgagets. We got really lucky that our

660
00:31:01,720 --> 00:31:04,920
Speaker 2: first house was very, very reasonable. It was only three

661
00:31:04,960 --> 00:31:09,120
Speaker 2: hundred thousand dollars and we bought that with only a

662
00:31:09,120 --> 00:31:11,200
Speaker 2: ten percent deposit. And that's one thing that I really

663
00:31:11,240 --> 00:31:13,600
Speaker 2: wanted to stress I guess while on here, is that

664
00:31:14,280 --> 00:31:16,680
Speaker 2: LMI is not like the worst thing in the world

665
00:31:16,720 --> 00:31:17,360
Speaker 2: to have to have.

666
00:31:17,480 --> 00:31:19,720
Speaker 4: Oh my god, I just recorded in an episode about

667
00:31:19,800 --> 00:31:22,600
Speaker 4: getting into your first property, and it's basically me ranting

668
00:31:22,600 --> 00:31:24,120
Speaker 4: about how ELMI is fantastic.

669
00:31:24,240 --> 00:31:26,320
Speaker 2: Yeah, And like we just kind of tacked it onto

670
00:31:26,360 --> 00:31:28,560
Speaker 2: the end of our mortgage and we didn't notice it

671
00:31:28,600 --> 00:31:30,320
Speaker 2: at all, and we managed. We were getting into the

672
00:31:30,360 --> 00:31:33,520
Speaker 2: property market so much quicker by doing that. So I'm

673
00:31:33,520 --> 00:31:37,400
Speaker 2: a massive advocate for that. And we decided after I

674
00:31:37,440 --> 00:31:40,160
Speaker 2: had my first baby while I was on that leave,

675
00:31:40,200 --> 00:31:42,480
Speaker 2: we had our mortgage fully offset, so we weren't paying

676
00:31:42,520 --> 00:31:45,200
Speaker 2: any interest. Oh very nice, So hold on, hold on,

677
00:31:45,240 --> 00:31:48,240
Speaker 2: hold on, backtrack. That is a big deal.

678
00:31:48,600 --> 00:31:51,160
Speaker 4: You had a three hundred thousand dollars in savings between

679
00:31:51,160 --> 00:31:53,040
Speaker 4: you and your husband to be able to fully offset

680
00:31:53,080 --> 00:31:53,640
Speaker 4: your mortgage.

681
00:31:53,680 --> 00:31:58,240
Speaker 2: How we're very frugal. We're very very frugal. I love this.

682
00:31:59,080 --> 00:32:02,200
Speaker 4: I think I love this because wow, that's so unrelatable,

683
00:32:02,200 --> 00:32:05,160
Speaker 4: but coming from somebody so relatable, you've just built this yourself.

684
00:32:05,240 --> 00:32:07,080
Speaker 2: Like what did I con That's what I want to

685
00:32:07,120 --> 00:32:09,160
Speaker 2: stress to you, Like, my husband doesn't come from marriage,

686
00:32:09,200 --> 00:32:11,480
Speaker 2: that's from marriage from money, like both of us.

687
00:32:11,600 --> 00:32:13,480
Speaker 4: Yeah, he came from your marriage, Like you made that

688
00:32:13,560 --> 00:32:14,520
Speaker 4: man take credit for that.

689
00:32:14,680 --> 00:32:16,560
Speaker 2: Yeah he did. He did come from my marriage, but

690
00:32:16,880 --> 00:32:20,840
Speaker 2: not from money. So like we both worked for this.

691
00:32:20,920 --> 00:32:23,600
Speaker 2: It's not like we've been given anything on a platter.

692
00:32:23,680 --> 00:32:26,720
Speaker 2: We've literally just been slogging and like we don't go

693
00:32:26,760 --> 00:32:30,880
Speaker 2: on holidays, We don't spend down money on things that

694
00:32:30,880 --> 00:32:33,080
Speaker 2: we don't need. We were both driving, you know, ten

695
00:32:33,160 --> 00:32:35,960
Speaker 2: year old cars until recently we've just bought a new car.

696
00:32:36,080 --> 00:32:39,040
Speaker 2: But like, we are just saving every single penny.

697
00:32:39,160 --> 00:32:41,560
Speaker 4: I'm obsessed with that. That makes me so happy. So

698
00:32:42,000 --> 00:32:44,800
Speaker 4: two properties. Your first one was three hundred thousand dollars.

699
00:32:44,840 --> 00:32:46,720
Speaker 4: What do you currently owe on that property?

700
00:32:46,800 --> 00:32:51,480
Speaker 2: We currently owe two hundred and eleven thousand, but most

701
00:32:51,480 --> 00:32:52,360
Speaker 2: of that's offset.

702
00:32:52,800 --> 00:32:55,320
Speaker 4: Okay, so you've got a nice amount in savings and

703
00:32:55,400 --> 00:32:58,560
Speaker 4: before you said, you know, I know personally you've got

704
00:32:58,600 --> 00:33:00,479
Speaker 4: that share potfolio and your name, and then you've got

705
00:33:00,520 --> 00:33:04,080
Speaker 4: your two forty k in super this savings that is offset.

706
00:33:04,120 --> 00:33:05,880
Speaker 2: Is this like shared funds with your husband?

707
00:33:06,160 --> 00:33:08,240
Speaker 4: Yeah, so that's just like the shared account side of

708
00:33:08,240 --> 00:33:11,280
Speaker 4: things as opposed to the money Darst side of things.

709
00:33:11,560 --> 00:33:14,560
Speaker 2: Yes. Yeah, so this is our shared and we've only

710
00:33:14,640 --> 00:33:20,000
Speaker 2: got thirty six thousand dollars that's not offset red. I'm

711
00:33:20,040 --> 00:33:22,920
Speaker 2: pretty proud of that of like both of your mortgages.

712
00:33:23,080 --> 00:33:26,400
Speaker 2: Oh no, sorry, that's just our property. But we are

713
00:33:27,240 --> 00:33:33,200
Speaker 2: using our investment property for I guess taxable purposes, so

714
00:33:33,240 --> 00:33:37,080
Speaker 2: we're not offsetting that because we're using the interest as

715
00:33:37,080 --> 00:33:37,800
Speaker 2: a tax deduction.

716
00:33:38,080 --> 00:33:41,000
Speaker 4: Genius, So tell me what is that property now worth?

717
00:33:41,040 --> 00:33:43,520
Speaker 4: If you purchased it for three hundred thousand dollars.

718
00:33:43,440 --> 00:33:47,320
Speaker 2: It's probably just under seven hundred thousand. Stop it, you're

719
00:33:47,440 --> 00:33:50,760
Speaker 2: like full rich guys. We got in at the market

720
00:33:50,800 --> 00:33:53,000
Speaker 2: at a really good time. It was twenty eighteen that

721
00:33:53,040 --> 00:33:56,320
Speaker 2: we bought, and we bought regional. But yeah, it's been

722
00:33:56,480 --> 00:33:57,480
Speaker 2: a fabulous house.

723
00:33:57,680 --> 00:33:59,720
Speaker 4: And is that the house that you're currently living in

724
00:33:59,840 --> 00:34:01,520
Speaker 4: is the primary residence you're talking about?

725
00:34:01,720 --> 00:34:04,440
Speaker 2: Yes, yeah, we're still in our little three bedroom and

726
00:34:04,640 --> 00:34:06,840
Speaker 2: it's working perfectly fine at the moment.

727
00:34:07,400 --> 00:34:10,640
Speaker 4: Perfect And so then you know you're plotting along, you're

728
00:34:10,640 --> 00:34:14,080
Speaker 4: buying twenty eighteen. When did you buy your first investment property?

729
00:34:14,160 --> 00:34:17,920
Speaker 2: We bought that last year, so that was twenty twenty four,

730
00:34:17,960 --> 00:34:21,360
Speaker 2: and we used a lot of our cash that was

731
00:34:21,360 --> 00:34:24,120
Speaker 2: sitting in our offset to purchase that. We didn't want

732
00:34:24,120 --> 00:34:29,320
Speaker 2: to refinance our actual loan. We wanted to use I guess,

733
00:34:29,360 --> 00:34:33,600
Speaker 2: our own equity, and so we purchased our investment property

734
00:34:33,680 --> 00:34:37,360
Speaker 2: for five hundred and forty five with a twenty percent deposit.

735
00:34:37,520 --> 00:34:41,600
Speaker 2: And tell me buying that property? Why that one? Because

736
00:34:41,800 --> 00:34:46,359
Speaker 2: it is in the best location in the town that

737
00:34:46,400 --> 00:34:49,840
Speaker 2: we live in. It's a beautiful street that we would

738
00:34:49,840 --> 00:34:53,960
Speaker 2: one day potentially want to live in. And it was

739
00:34:54,160 --> 00:34:57,720
Speaker 2: literally the worst house on the best street. It was dilapidated,

740
00:34:57,880 --> 00:34:59,279
Speaker 2: the roof like we had to do a lot of

741
00:34:59,280 --> 00:35:01,320
Speaker 2: renovations to get get it up to a Liverpool standard.

742
00:35:01,320 --> 00:35:03,080
Speaker 2: I can't believe that they had a tenant in it

743
00:35:03,200 --> 00:35:06,680
Speaker 2: like before. Like the roof literally had to get fixed.

744
00:35:06,719 --> 00:35:09,600
Speaker 2: There was just so many issues with the property.

745
00:35:09,680 --> 00:35:12,759
Speaker 4: That's because some people are horrid, Like honestly, I just

746
00:35:13,080 --> 00:35:15,080
Speaker 4: if you're going to be a landlord, just don't be

747
00:35:15,160 --> 00:35:15,799
Speaker 4: a bad one.

748
00:35:15,960 --> 00:35:18,719
Speaker 2: And so we did everything ourselves that we could, and

749
00:35:18,760 --> 00:35:21,960
Speaker 2: that's really big for us as well, that we aren't

750
00:35:22,000 --> 00:35:26,640
Speaker 2: spending money when we can do it ourselves. So we

751
00:35:26,719 --> 00:35:29,080
Speaker 2: painted the entire exterior of the house.

752
00:35:29,200 --> 00:35:31,640
Speaker 4: For example, Painting is the worst. I'm not going to lie.

753
00:35:31,719 --> 00:35:33,400
Speaker 4: You think it's going to be easy, and it is

754
00:35:33,440 --> 00:35:35,120
Speaker 4: the hardest log in the entire world.

755
00:35:35,160 --> 00:35:36,759
Speaker 2: It's horrible. And weatherboards like.

756
00:35:37,320 --> 00:35:40,240
Speaker 4: Grooves having to cut in all of your weather boards

757
00:35:40,280 --> 00:35:43,200
Speaker 4: absolutely not. We did all of that in our house too,

758
00:35:43,600 --> 00:35:45,719
Speaker 4: because I was like to my husband, we got a

759
00:35:45,719 --> 00:35:48,240
Speaker 4: painting quote and it came back and I was like, nah,

760
00:35:48,320 --> 00:35:50,640
Speaker 4: we're not paying that. I look like a painter. I

761
00:35:50,680 --> 00:35:53,600
Speaker 4: can paint. I actually remember I had a meltdown because

762
00:35:53,600 --> 00:35:55,920
Speaker 4: I'd been painting for like twelve hours and we were

763
00:35:55,960 --> 00:35:58,840
Speaker 4: doing our ceilings. Oh your neck, yeah, my neck, My

764
00:35:58,960 --> 00:36:01,880
Speaker 4: back hurt like we hadn't eaten. And it ended up

765
00:36:01,960 --> 00:36:04,920
Speaker 4: just like still paint rolling, crying and my husband was like,

766
00:36:05,280 --> 00:36:06,800
Speaker 4: do you want to stop and get a pizza?

767
00:36:06,920 --> 00:36:10,160
Speaker 3: And I was like, yo, so really do I'm just

768
00:36:10,200 --> 00:36:11,520
Speaker 3: so hungry and emotional.

769
00:36:11,640 --> 00:36:14,279
Speaker 2: Yep. No, painting is the worst. That was the best

770
00:36:14,320 --> 00:36:16,400
Speaker 2: chicken pizza I had in my life. Just to be clear,

771
00:36:16,600 --> 00:36:18,320
Speaker 2: I love that for you, but I don't love that

772
00:36:18,360 --> 00:36:20,720
Speaker 2: you had to paint. It's horrible. You know what didn't

773
00:36:20,719 --> 00:36:23,160
Speaker 2: cost me ten grand? Did it? And you only had

774
00:36:23,200 --> 00:36:26,280
Speaker 2: one emotional breakdown? So that's pretty good. And that's basically free.

775
00:36:26,320 --> 00:36:26,640
Speaker 2: It is.

776
00:36:26,920 --> 00:36:29,879
Speaker 4: Yeah, so tell me this house? Has it got good

777
00:36:29,920 --> 00:36:30,640
Speaker 4: rental yield?

778
00:36:30,920 --> 00:36:34,239
Speaker 2: It does. We did want it to be negatively geared

779
00:36:34,280 --> 00:36:37,680
Speaker 2: for tax purposes, so we are currently getting four hundred

780
00:36:37,719 --> 00:36:40,800
Speaker 2: and sixty dollars per week from our investment property. Yeah,

781
00:36:40,920 --> 00:36:41,520
Speaker 2: very cool.

782
00:36:41,640 --> 00:36:44,560
Speaker 4: I love this, And what's the property plan? In the future,

783
00:36:44,560 --> 00:36:47,200
Speaker 4: we're planning on getting in more mortgage debt. Are we

784
00:36:47,320 --> 00:36:50,319
Speaker 4: planning on other investment properties or like, is that a

785
00:36:50,320 --> 00:36:52,040
Speaker 4: wealth creation strategy for you guys?

786
00:36:52,120 --> 00:36:54,520
Speaker 2: It definitely could be, but I think we need to

787
00:36:54,520 --> 00:36:57,680
Speaker 2: figure out where we want to live first and whether

788
00:36:57,880 --> 00:37:02,000
Speaker 2: we need to have equity for that next property or

789
00:37:02,160 --> 00:37:06,680
Speaker 2: whether we are going to buy another investment property. Yep, no, smart, Smart,

790
00:37:06,719 --> 00:37:09,440
Speaker 2: so tell me no other debt, just to be sure.

791
00:37:09,560 --> 00:37:11,640
Speaker 2: We do have one credit card, but we use that

792
00:37:11,719 --> 00:37:14,600
Speaker 2: in a very specific way, and it's just to get points. So,

793
00:37:15,320 --> 00:37:17,080
Speaker 2: as I've kind of alluded to, we live in a

794
00:37:17,160 --> 00:37:20,360
Speaker 2: regional town that it's quite expensive to fly out of,

795
00:37:20,400 --> 00:37:24,400
Speaker 2: and we have family interstates, so we use points to

796
00:37:24,440 --> 00:37:26,480
Speaker 2: be able to go and visit them without having to

797
00:37:26,480 --> 00:37:29,200
Speaker 2: pay an arm in the lake. Yeah. Absolutely.

798
00:37:29,440 --> 00:37:32,040
Speaker 4: So we know that your best money habit is that

799
00:37:32,719 --> 00:37:36,400
Speaker 4: you know, after your HEX was completely paid off, you

800
00:37:36,560 --> 00:37:40,000
Speaker 4: didn't tell your employer and so therefore your employer was

801
00:37:40,040 --> 00:37:42,600
Speaker 4: still paying money to the government for your HEX. So

802
00:37:42,680 --> 00:37:45,160
Speaker 4: at tax time, the government was like, hey, money, dirist,

803
00:37:45,160 --> 00:37:48,280
Speaker 4: we actually have sixteen grand for you for your HEX

804
00:37:48,280 --> 00:37:50,600
Speaker 4: that was already paid off. But you took that money

805
00:37:50,640 --> 00:37:52,640
Speaker 4: and then you put it into your super Are you

806
00:37:52,840 --> 00:37:53,719
Speaker 4: still doing that?

807
00:37:54,000 --> 00:37:56,759
Speaker 2: No, So I only did that for the first year

808
00:37:56,800 --> 00:38:00,520
Speaker 2: to get that lump some and then I'm getting lumps

809
00:38:00,560 --> 00:38:03,520
Speaker 2: back through doing my tax and then I kind of

810
00:38:03,560 --> 00:38:06,200
Speaker 2: put that in my offset, leave it there until the

811
00:38:06,239 --> 00:38:09,600
Speaker 2: next May, and then kind of do it again. Yeah.

812
00:38:09,640 --> 00:38:11,840
Speaker 2: And do you have any other good money habits you

813
00:38:11,880 --> 00:38:14,040
Speaker 2: want to share, because I just feel like you've probably

814
00:38:14,040 --> 00:38:15,680
Speaker 2: got a lot of them. Like I feel like your

815
00:38:15,800 --> 00:38:18,000
Speaker 2: entire money diary was just a good money habit. I

816
00:38:18,040 --> 00:38:21,120
Speaker 2: guess it's just to live beneath your means. I think

817
00:38:21,160 --> 00:38:22,839
Speaker 2: that that's really important and you don't have to keep

818
00:38:22,960 --> 00:38:25,200
Speaker 2: up with the Joneses, Like, actually, this is a good

819
00:38:25,200 --> 00:38:27,279
Speaker 2: money habit. My best friend and I always laugh that

820
00:38:27,960 --> 00:38:31,520
Speaker 2: I cosplay being poor, Like I just pretend that I'm

821
00:38:31,560 --> 00:38:34,560
Speaker 2: poor all the time, like mentally, and then I just

822
00:38:34,600 --> 00:38:36,640
Speaker 2: don't spend things. I'm like, oh, well, I can make

823
00:38:36,680 --> 00:38:38,760
Speaker 2: that at home and it tasts fifteen times better.

824
00:38:38,880 --> 00:38:41,880
Speaker 4: I feel like this is such a people already know this.

825
00:38:41,960 --> 00:38:45,600
Speaker 4: I mean a very lucky and I hate the word lucky,

826
00:38:45,640 --> 00:38:48,439
Speaker 4: but like I'm in a very good financial position now

827
00:38:48,560 --> 00:38:52,160
Speaker 4: because I have worked really hard. If we're being really honest.

828
00:38:52,200 --> 00:38:54,600
Speaker 4: This isn't lucky. It wasn't gifted to me. I've never

829
00:38:54,640 --> 00:38:57,480
Speaker 4: had a leg up, none of that. But I still

830
00:38:57,560 --> 00:38:59,200
Speaker 4: have it. I think it's like a product of the

831
00:38:59,239 --> 00:39:00,520
Speaker 4: way that I grew up. I still have it in

832
00:39:00,560 --> 00:39:02,319
Speaker 4: my head, like we've got food at home, Like I'm

833
00:39:02,360 --> 00:39:05,000
Speaker 4: still that mum. I'm going on holidays soon. And I

834
00:39:05,040 --> 00:39:07,319
Speaker 4: said to my husband, Okay, so what time do we

835
00:39:07,440 --> 00:39:09,560
Speaker 4: land and he was like, oh, it's quite late. And

836
00:39:09,600 --> 00:39:11,840
Speaker 4: I'm thinking we're not gonna have time to get to

837
00:39:11,880 --> 00:39:13,560
Speaker 4: the supermarket after we get there.

838
00:39:13,640 --> 00:39:16,080
Speaker 2: And my husband's like, that's fine, and I was like, yeah,

839
00:39:16,120 --> 00:39:17,040
Speaker 2: but I need.

840
00:39:16,800 --> 00:39:19,319
Speaker 4: Like because I hate buying water when we're traveling. I'm like,

841
00:39:19,320 --> 00:39:21,200
Speaker 4: but we need to buy the big thing of water,

842
00:39:21,320 --> 00:39:22,839
Speaker 4: and like there's a whole heap of stuff, and he's

843
00:39:22,880 --> 00:39:28,200
Speaker 4: just like Victoria. But it's just part of my mental process,

844
00:39:28,440 --> 00:39:30,319
Speaker 4: and like, you know, I'll look at something and don't

845
00:39:30,320 --> 00:39:32,160
Speaker 4: get me wrong, I've bought a lot of nice things,

846
00:39:32,440 --> 00:39:33,160
Speaker 4: but I'll still.

847
00:39:33,000 --> 00:39:34,640
Speaker 2: Look at it and go, oh, I can't afford that.

848
00:39:34,640 --> 00:39:36,640
Speaker 2: That's ridiculous, And then all of a sudden, I'm like

849
00:39:37,040 --> 00:39:37,799
Speaker 2: I can afford that.

850
00:39:38,120 --> 00:39:40,960
Speaker 4: Oh okay, Like I need to check myself a little bit,

851
00:39:41,160 --> 00:39:44,040
Speaker 4: but like living beneath your means, do you feel like

852
00:39:44,040 --> 00:39:46,640
Speaker 4: you're missing out? Like do you feel like that is,

853
00:39:46,880 --> 00:39:49,279
Speaker 4: you know, putting you behind, because like not keeping up

854
00:39:49,280 --> 00:39:52,320
Speaker 4: with the Joneses. Don't get me wrong, Like in theory

855
00:39:52,360 --> 00:39:54,800
Speaker 4: it makes sense, but sometimes that feels a bit trashy,

856
00:39:54,960 --> 00:39:57,080
Speaker 4: Like sometimes you're like, Oh, I don't feel so good

857
00:39:57,080 --> 00:39:59,520
Speaker 4: about this. I really wanted that, or do you know.

858
00:39:59,560 --> 00:40:02,280
Speaker 2: What I mean? Sometimes I think I definitely compare myself

859
00:40:02,280 --> 00:40:04,759
Speaker 2: to people who are at the same life stage and

860
00:40:04,760 --> 00:40:07,120
Speaker 2: I'm like, oh, you know, they have a nice car,

861
00:40:07,239 --> 00:40:09,960
Speaker 2: or they I don't know, have a prior handbag or whatever.

862
00:40:10,400 --> 00:40:14,240
Speaker 2: But I guess I have our family long term goals

863
00:40:14,320 --> 00:40:17,480
Speaker 2: in mind that we want to be able to give

864
00:40:17,520 --> 00:40:20,600
Speaker 2: our daughters the best future, and I don't need a

865
00:40:20,600 --> 00:40:23,200
Speaker 2: prior of handbag if I can hopefully help my daughter,

866
00:40:23,480 --> 00:40:25,360
Speaker 2: I don't know, buy a house or something later on

867
00:40:25,440 --> 00:40:27,360
Speaker 2: down the track, Yeah, one hundred percent.

868
00:40:27,440 --> 00:40:29,319
Speaker 4: Like it comes back to zooming out and looking at

869
00:40:29,320 --> 00:40:31,240
Speaker 4: your values as a whole, and it can be so

870
00:40:31,320 --> 00:40:35,240
Speaker 4: easy to be taken away with those things so quickly,

871
00:40:35,400 --> 00:40:38,640
Speaker 4: Like it makes me frustrated because I get taken by

872
00:40:38,719 --> 00:40:41,520
Speaker 4: that so often. Like comparison is the thief of joy,

873
00:40:41,520 --> 00:40:43,279
Speaker 4: and I will tell you that day in, day out,

874
00:40:43,320 --> 00:40:45,640
Speaker 4: And then there's me in the background at eleven pm

875
00:40:45,840 --> 00:40:48,440
Speaker 4: on some bloggers TikTok being like, oh, that is.

876
00:40:48,360 --> 00:40:50,520
Speaker 2: A really nice outfit. Maybe I do, And then I'm like,

877
00:40:50,560 --> 00:40:53,239
Speaker 2: how are you stop this? Yeah? Just stop, put the

878
00:40:53,239 --> 00:40:56,799
Speaker 2: phone down, walk away exactly. So what do you reckon

879
00:40:56,800 --> 00:40:59,359
Speaker 2: your worst money? How it is? I was thinking long

880
00:40:59,400 --> 00:41:02,440
Speaker 2: and hard about this, and it is that we don't

881
00:41:02,440 --> 00:41:05,840
Speaker 2: have a budget. And I know that that sounds really wanky.

882
00:41:05,960 --> 00:41:08,240
Speaker 4: Wee must be nice or a che rich over here,

883
00:41:08,320 --> 00:41:11,120
Speaker 4: yeah yeah, yeah.

884
00:41:10,120 --> 00:41:13,000
Speaker 2: Yeah, But it's because and I've kind of been doing

885
00:41:13,000 --> 00:41:16,399
Speaker 2: some deep diving about it because I lived on such

886
00:41:16,440 --> 00:41:20,920
Speaker 2: a tight budget for my entire life until I don't know,

887
00:41:20,920 --> 00:41:23,160
Speaker 2: probably twenty five. I feel like I have a bit

888
00:41:23,200 --> 00:41:26,160
Speaker 2: of PTSD about it because every dollar had to be

889
00:41:26,200 --> 00:41:29,360
Speaker 2: doing something and I had to move everything around and

890
00:41:29,400 --> 00:41:33,279
Speaker 2: it was just so stressful. So we don't necessarily know

891
00:41:33,360 --> 00:41:35,239
Speaker 2: what's coming in and going out. But because we have

892
00:41:35,320 --> 00:41:38,520
Speaker 2: that buffer, we're able to have that luxury, if that

893
00:41:38,560 --> 00:41:41,560
Speaker 2: makes sense. But I still think that it's potentially detrimental

894
00:41:41,920 --> 00:41:45,200
Speaker 2: because we've got children. Now, we have food budgets and

895
00:41:45,239 --> 00:41:48,759
Speaker 2: the cost of living is definitely affecting us as well. Yeah.

896
00:41:48,800 --> 00:41:51,560
Speaker 4: I was talking to Jess actually from the show about

897
00:41:51,600 --> 00:41:54,800
Speaker 4: this earlier today, and we were talking about the concept

898
00:41:54,840 --> 00:41:57,920
Speaker 4: of like date nights, like money date nights and how

899
00:41:58,320 --> 00:42:00,239
Speaker 4: you know. I did an episode a couple of years

900
00:42:00,239 --> 00:42:02,200
Speaker 4: ago about the date nights that my husband and I

901
00:42:02,239 --> 00:42:04,279
Speaker 4: were having, and you know, we always used to have

902
00:42:04,320 --> 00:42:07,880
Speaker 4: them every single month, and that was pre wedding, that

903
00:42:08,040 --> 00:42:11,040
Speaker 4: was pre baby's, pre our second mortgage.

904
00:42:11,360 --> 00:42:12,960
Speaker 2: And I said to Jess, because.

905
00:42:13,080 --> 00:42:15,319
Speaker 4: It was a listener question actually and we're answering it

906
00:42:15,360 --> 00:42:17,480
Speaker 4: on the show. She said, oh, you guys would still

907
00:42:17,520 --> 00:42:19,239
Speaker 4: do them really well? And I was like, well, actually, no,

908
00:42:19,719 --> 00:42:22,920
Speaker 4: Like I feel like, now we've achieved some really big things,

909
00:42:23,239 --> 00:42:25,480
Speaker 4: we are really really on the same page, so I

910
00:42:25,480 --> 00:42:27,440
Speaker 4: actually don't need to check in monthly because in our

911
00:42:27,480 --> 00:42:29,799
Speaker 4: heads we both know kind of what's going on. But then,

912
00:42:30,120 --> 00:42:32,279
Speaker 4: you know, I spoke about this holiday that we were

913
00:42:32,320 --> 00:42:34,160
Speaker 4: about to go on, and I was like, you know,

914
00:42:34,239 --> 00:42:36,160
Speaker 4: we checked in when we were booking a holiday because

915
00:42:36,200 --> 00:42:38,239
Speaker 4: that's a really big financial expense and we wanted to

916
00:42:38,320 --> 00:42:40,200
Speaker 4: like go, okay, well, what's our budget each night for

917
00:42:40,239 --> 00:42:42,279
Speaker 4: a hotel and then I'll go find one and you know,

918
00:42:42,520 --> 00:42:44,880
Speaker 4: how many points do we have for flights? And okay,

919
00:42:44,880 --> 00:42:47,359
Speaker 4: we've got that and I could. Luckily, we spent all

920
00:42:47,360 --> 00:42:49,640
Speaker 4: of our points on flights and they had some points

921
00:42:49,680 --> 00:42:52,560
Speaker 4: left over so that we spent that on some accommodation

922
00:42:52,680 --> 00:42:55,440
Speaker 4: as well. But like it's kind of like a strategy

923
00:42:55,480 --> 00:42:58,719
Speaker 4: meeting before we make a big financial decision again. But

924
00:42:58,760 --> 00:43:01,600
Speaker 4: we don't need those monthslea ones. Did you used to

925
00:43:01,600 --> 00:43:03,520
Speaker 4: do the monthly date and now you feel like you've

926
00:43:03,520 --> 00:43:05,000
Speaker 4: fallen off the bandwagon as well?

927
00:43:05,080 --> 00:43:08,120
Speaker 2: Oh definitely, And like who has time to date right now?

928
00:43:08,200 --> 00:43:09,560
Speaker 2: I'm like barely sleeping.

929
00:43:09,640 --> 00:43:11,719
Speaker 4: No, no, no, if the kids are in bed early, sorry,

930
00:43:11,760 --> 00:43:12,960
Speaker 4: I'm also going to bed.

931
00:43:13,320 --> 00:43:15,799
Speaker 2: Literally, our date is holding hands on the couch for

932
00:43:15,840 --> 00:43:18,880
Speaker 2: two seconds and then rolling off and going to sleep. Catcher,

933
00:43:19,000 --> 00:43:21,600
Speaker 2: your hand's sweaty. Bye. Yeah, don't even touch me. I've

934
00:43:21,600 --> 00:43:23,520
Speaker 2: been touched out. I've had a four month old crawling

935
00:43:23,520 --> 00:43:26,880
Speaker 2: on me all day. Oh yeah, so cute. She is

936
00:43:26,960 --> 00:43:29,960
Speaker 2: very cute. She's very very sweet. But yeah, we definitely

937
00:43:30,000 --> 00:43:33,560
Speaker 2: don't need to have those little check ins because we've

938
00:43:33,560 --> 00:43:36,040
Speaker 2: got the game plan. Like we've been together so long

939
00:43:36,320 --> 00:43:39,280
Speaker 2: we've had our money merged for so long as well

940
00:43:39,480 --> 00:43:42,120
Speaker 2: that we just we know where each other's going. It's

941
00:43:42,160 --> 00:43:44,160
Speaker 2: kind of like, yeah, when you've been playing on the

942
00:43:44,160 --> 00:43:45,960
Speaker 2: same team for so long, you don't have to look

943
00:43:45,960 --> 00:43:47,719
Speaker 2: because you know that they're going to be there. Yeah.

944
00:43:47,880 --> 00:43:50,000
Speaker 4: No, I think that that's an important thing to talk

945
00:43:50,040 --> 00:43:52,919
Speaker 4: about as well, because I think there's this assumption when

946
00:43:52,920 --> 00:43:55,719
Speaker 4: you implement day nights they have to be forever, and like,

947
00:43:55,920 --> 00:43:57,520
Speaker 4: if you want them to be, I guess they can be.

948
00:43:57,560 --> 00:43:59,319
Speaker 4: But it's just I feel like it would be a

949
00:43:59,360 --> 00:44:01,399
Speaker 4: genuine waste of our time at this point because I'd

950
00:44:01,440 --> 00:44:03,319
Speaker 4: be like, so our money's doing this and stay We'll

951
00:44:03,360 --> 00:44:05,440
Speaker 4: be like yep, I know. I'll be like what about this,

952
00:44:05,480 --> 00:44:07,080
Speaker 4: and he'd be like, m hm, it's exactly where we

953
00:44:07,120 --> 00:44:07,880
Speaker 4: thought it was going to be.

954
00:44:08,040 --> 00:44:11,080
Speaker 2: Yeah, that's the same as us. And that's good. It's nice.

955
00:44:11,120 --> 00:44:12,920
Speaker 2: It's very calming.

956
00:44:13,080 --> 00:44:15,839
Speaker 4: It feels like an accomplishment. Like I was saying to Jess,

957
00:44:15,880 --> 00:44:18,200
Speaker 4: it genuinely feels so good being like, oh, hold on,

958
00:44:18,280 --> 00:44:20,880
Speaker 4: I feel like we've graduated, like we've gone from needing

959
00:44:20,920 --> 00:44:23,560
Speaker 4: this and like implementing structure and making change, which can

960
00:44:23,560 --> 00:44:26,880
Speaker 4: feel really hard, to being at the easier part, where

961
00:44:27,400 --> 00:44:29,560
Speaker 4: you know, I feel like I'm gloating when I say that,

962
00:44:29,640 --> 00:44:32,520
Speaker 4: but like, it does get easier when things start compounding,

963
00:44:32,520 --> 00:44:36,160
Speaker 4: when your choices start to become ingrained. You're kind of like, oh,

964
00:44:36,280 --> 00:44:37,080
Speaker 4: this just works.

965
00:44:37,360 --> 00:44:39,279
Speaker 2: Yeah, and you just kind of stick to the same

966
00:44:39,360 --> 00:44:43,120
Speaker 2: thing as well. And yeah, it definitely doesn't happen overnight,

967
00:44:43,160 --> 00:44:44,320
Speaker 2: but it does eventually happen.

968
00:44:44,440 --> 00:44:46,520
Speaker 4: Oh no, it takes a long time, but then all

969
00:44:46,560 --> 00:44:48,560
Speaker 4: of a sudden you're there and you can't believe you're

970
00:44:48,560 --> 00:44:50,440
Speaker 4: thirty four years old and have two children.

971
00:44:50,600 --> 00:44:51,360
Speaker 2: I know, it's wild.

972
00:44:52,320 --> 00:44:55,080
Speaker 4: So at the start of this episode, you said I'm

973
00:44:55,120 --> 00:44:57,640
Speaker 4: an A minus goal, what's it going to take for

974
00:44:57,680 --> 00:44:59,040
Speaker 4: you to say that you're an A plus?

975
00:44:59,120 --> 00:45:01,319
Speaker 2: What do we have to do? Because that's crazy talk

976
00:45:01,360 --> 00:45:03,480
Speaker 2: to me after hearing your story, I guess it just

977
00:45:03,520 --> 00:45:05,960
Speaker 2: feels a bit like up myself, I'm like, I'm an

978
00:45:05,960 --> 00:45:06,520
Speaker 2: A plus.

979
00:45:06,920 --> 00:45:09,600
Speaker 4: It's totally not because I think it's just logic. You've

980
00:45:09,640 --> 00:45:12,160
Speaker 4: worked your ass off to be an A plus. Like

981
00:45:12,280 --> 00:45:14,440
Speaker 4: I'm not an A plus and I'm not an A

982
00:45:14,520 --> 00:45:17,960
Speaker 4: plus because I'm very good at comparison and I'm very

983
00:45:18,000 --> 00:45:21,680
Speaker 4: good at impulse purchasing and I'm very good at, you know,

984
00:45:22,120 --> 00:45:24,160
Speaker 4: falling a little bit off the track when I wanted

985
00:45:24,200 --> 00:45:24,600
Speaker 4: to stay out.

986
00:45:24,640 --> 00:45:25,640
Speaker 2: You didn't say any of that.

987
00:45:25,840 --> 00:45:28,440
Speaker 4: Sorry, A plus for you, I'll tell you you're an

988
00:45:28,480 --> 00:45:28,920
Speaker 4: A plus.

989
00:45:29,040 --> 00:45:31,040
Speaker 2: I think that makes it less wanky. Thank you. I

990
00:45:31,120 --> 00:45:34,400
Speaker 2: appreciate that money, Darst.

991
00:45:34,400 --> 00:45:36,960
Speaker 4: I wish we had so much more time to chat,

992
00:45:37,000 --> 00:45:39,360
Speaker 4: but this has been fun. I feel like I've found

993
00:45:39,480 --> 00:45:42,239
Speaker 4: like my little peen a pod and we are so similar.

994
00:45:42,680 --> 00:45:44,799
Speaker 4: So thank you so much for sharing your journey with

995
00:45:44,840 --> 00:45:46,920
Speaker 4: the community. I just know they're gonna love this. Like

996
00:45:47,120 --> 00:45:50,400
Speaker 4: the fact, and just reminding everybody all of this was

997
00:45:50,440 --> 00:45:54,480
Speaker 4: achieved by somebody whose parents were on Centerlink and she

998
00:45:54,560 --> 00:45:57,799
Speaker 4: had to put herself through university. Like girl, you did

999
00:45:57,800 --> 00:45:59,879
Speaker 4: this all yourself. That's crazy, that's so cool.

1000
00:46:00,040 --> 00:46:03,080
Speaker 2: Thank you so much. I really appreciate having the opportunity

1001
00:46:03,120 --> 00:46:05,120
Speaker 2: to talk to you, and I hope that it inspires

1002
00:46:05,120 --> 00:46:07,320
Speaker 2: someone to be able to see that they can change

1003
00:46:07,360 --> 00:46:07,920
Speaker 2: their story.

1004
00:46:08,040 --> 00:46:10,480
Speaker 4: They absolutely can, And I feel like you gave so

1005
00:46:10,600 --> 00:46:13,879
Speaker 4: many like helpful tips and tricks through this that I'm

1006
00:46:13,880 --> 00:46:15,080
Speaker 4: now worried you're coming.

1007
00:46:14,880 --> 00:46:18,120
Speaker 2: For my job, so be goot, watch out bed, I'm

1008
00:46:18,160 --> 00:46:20,439
Speaker 2: watching my back. Thanks so much.

1009
00:46:26,840 --> 00:46:29,400
Speaker 4: The advice shared on She's on the Money is general

1010
00:46:29,440 --> 00:46:33,320
Speaker 4: in nature and does not consider your individual circumstances. She's

1011
00:46:33,360 --> 00:46:36,800
Speaker 4: on the Money exists purely for educational purposes and should

1012
00:46:36,840 --> 00:46:40,000
Speaker 4: not be relied upon to make an investment or financial decision.

1013
00:46:40,400 --> 00:46:42,839
Speaker 4: If you do choose to buy a financial product, read

1014
00:46:42,880 --> 00:46:46,960
Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards

1015
00:46:47,040 --> 00:46:50,319
Speaker 4: your needs. Victoria Divine and She's on the Money are

1016
00:46:50,400 --> 00:46:52,080
Speaker 4: authorized representatives of.

1017
00:46:52,080 --> 00:46:54,040
Speaker 2: Money showper Pty Ltd.

1018
00:46:54,239 --> 00:46:57,319
Speaker 4: A BN three two one six four nine two seven

1019
00:46:57,440 --> 00:47:01,279
Speaker 4: seven zero eight AFSL four five one two eight nine

1020
00:47:11,080 --> 00:47:11,120
Speaker 2: H