1
00:00:00,200 --> 00:00:02,960
Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations

2
00:00:03,000 --> 00:00:07,280
Speaker 1: woman and I'm here to acknowledge country t Glenn Young

3
00:00:07,320 --> 00:00:11,400
Speaker 1: Ganya Niana, Kaka yah Ya bin Ahaka nian Ar gay

4
00:00:11,440 --> 00:00:17,120
Speaker 1: In Nimbina, yakarum jar dominyamiga Umagahawakaman damon Imlan Wumba, bang

5
00:00:17,160 --> 00:00:22,439
Speaker 1: Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,

6
00:00:22,480 --> 00:00:25,920
Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.

7
00:00:26,360 --> 00:00:29,000
Speaker 1: We thank I acknowledge and respect the Aberiginal people's land

8
00:00:29,040 --> 00:00:31,560
Speaker 1: that we're gathering on today. Take pleasure in all the

9
00:00:31,640 --> 00:00:35,040
Speaker 1: land and respect all that you see. She's on the

10
00:00:35,080 --> 00:00:41,360
Speaker 1: Money podcast acknowledges culture, country, community and connections, bringing you

11
00:00:41,479 --> 00:00:44,560
Speaker 1: the tools, knowledge and resources for you to thrive.

12
00:00:45,080 --> 00:00:47,840
Speaker 2: She's on the Money. She's on the Money.

13
00:01:08,080 --> 00:01:11,000
Speaker 3: Hello, and welcome to She's on the Money, the podcast

14
00:01:11,040 --> 00:01:13,520
Speaker 3: of let's you be pervy about other people's money habits

15
00:01:13,760 --> 00:01:17,280
Speaker 3: for educational purposes of course, Welcome back to another one

16
00:01:17,360 --> 00:01:19,600
Speaker 3: of our money daries, brought to you by sky Wealth,

17
00:01:19,640 --> 00:01:21,840
Speaker 3: where we get to talk with one of our incredible

18
00:01:21,959 --> 00:01:24,840
Speaker 3: She's on the Money community members all about their journey.

19
00:01:25,000 --> 00:01:27,160
Speaker 3: Let's jump straight into it, because this week I got

20
00:01:27,200 --> 00:01:32,200
Speaker 3: an email and it sounded exactly like this, literally like this, Hi,

21
00:01:32,360 --> 00:01:34,960
Speaker 3: she's on the money. I'm about to settle on my

22
00:01:35,440 --> 00:01:39,360
Speaker 3: second property by myself that I bought off the plan

23
00:01:40,080 --> 00:01:42,920
Speaker 3: four years in the making. The first property I bought

24
00:01:43,040 --> 00:01:44,760
Speaker 3: was a roller coaster of buying with a friend and

25
00:01:44,800 --> 00:01:47,039
Speaker 3: then having a fallout, and then buying her out while

26
00:01:47,080 --> 00:01:50,720
Speaker 3: the friendship was falling apart. I began my finance education

27
00:01:50,840 --> 00:01:54,280
Speaker 3: and investing journey shortly after I turned eighteen, and while

28
00:01:54,320 --> 00:01:57,080
Speaker 3: I am a relatively high income earner, it's due to

29
00:01:57,160 --> 00:01:59,760
Speaker 3: this education that I am set to have one hundred

30
00:02:00,040 --> 00:02:04,400
Speaker 3: thousand dollars in super by the time I am twenty five,

31
00:02:05,240 --> 00:02:08,079
Speaker 3: and I'm hoping to fund my entire retirement by the

32
00:02:08,160 --> 00:02:13,519
Speaker 3: age of fifty money diarrest, what the hell? Yeah, like

33
00:02:13,760 --> 00:02:14,600
Speaker 3: so cool, But.

34
00:02:14,680 --> 00:02:15,280
Speaker 1: You're a baby.

35
00:02:15,320 --> 00:02:17,560
Speaker 3: You're twenty four. You're gonna have one hundred grand in

36
00:02:17,600 --> 00:02:18,680
Speaker 3: super by twenty five.

37
00:02:19,040 --> 00:02:22,239
Speaker 2: I'm twenty three, but yeah, it's actually my birthday tomorrow,

38
00:02:22,480 --> 00:02:23,440
Speaker 2: so almost.

39
00:02:23,240 --> 00:02:26,120
Speaker 3: So you're basically twenty four and then giving yourself literally

40
00:02:26,639 --> 00:02:29,600
Speaker 3: twelve months from tomorrow, you're gonna have one hundred grand

41
00:02:29,639 --> 00:02:31,960
Speaker 3: in super that's the plan. That is crazy. I need

42
00:02:32,000 --> 00:02:33,800
Speaker 3: to know so much more about this before we get

43
00:02:33,840 --> 00:02:36,519
Speaker 3: their backtrack backtrack money dis If I asked you to

44
00:02:36,600 --> 00:02:38,760
Speaker 3: give yourself a money grade from A three to F,

45
00:02:38,840 --> 00:02:40,360
Speaker 3: what grade would you give yourself?

46
00:02:40,680 --> 00:02:43,359
Speaker 2: Oh? Like, I solid B at the moment. That's a B.

47
00:02:43,560 --> 00:02:43,720
Speaker 4: Is it?

48
00:02:43,960 --> 00:02:46,600
Speaker 3: Alright? Let's learn a little bit more about it. Can

49
00:02:46,680 --> 00:02:49,320
Speaker 3: you tell me a little bit more about your money story.

50
00:02:49,639 --> 00:02:52,160
Speaker 2: Yeah? So I grew up in a single parent household.

51
00:02:52,240 --> 00:02:54,799
Speaker 2: It was my sister, my mum, and myself, and I

52
00:02:54,880 --> 00:02:58,120
Speaker 2: don't really think we ever talked about money growing up.

53
00:02:58,520 --> 00:03:01,560
Speaker 2: I remember if mum got like a good tax return

54
00:03:01,720 --> 00:03:03,919
Speaker 2: or a bonus, we'd always get a little treat out

55
00:03:03,960 --> 00:03:06,600
Speaker 2: of that. But outside of that, we never really had

56
00:03:06,800 --> 00:03:10,239
Speaker 2: any major expenses or like holidays or anything like that.

57
00:03:10,600 --> 00:03:13,040
Speaker 2: It just wasn't really something we spoke about. And I

58
00:03:13,080 --> 00:03:15,400
Speaker 2: didn't think we were well off or poor. I just

59
00:03:15,480 --> 00:03:17,760
Speaker 2: didn't really think about it at all. It would have

60
00:03:17,800 --> 00:03:20,440
Speaker 2: been my sixteenth or seventeenth birthday. I actually got given

61
00:03:20,680 --> 00:03:23,400
Speaker 2: two copies of The Barefoot Investor by two different people.

62
00:03:23,639 --> 00:03:25,919
Speaker 3: I love that you've surrounded me people who want you

63
00:03:26,000 --> 00:03:27,959
Speaker 3: to be financially successful icon.

64
00:03:28,360 --> 00:03:32,840
Speaker 2: Yeah, and then I remember reading it overnight and I

65
00:03:32,960 --> 00:03:36,040
Speaker 2: started working at fourteen and six months and I had

66
00:03:36,080 --> 00:03:38,040
Speaker 2: to get mum's permission because she had to sign a

67
00:03:38,080 --> 00:03:39,400
Speaker 2: form to say I was allowed.

68
00:03:39,120 --> 00:03:41,080
Speaker 3: To work three months early. Queen.

69
00:03:41,400 --> 00:03:43,320
Speaker 2: Yeah, I wanted to go on a trip with school

70
00:03:43,600 --> 00:03:45,880
Speaker 2: and like it was an international trip, and Mum was like, well,

71
00:03:45,920 --> 00:03:47,440
Speaker 2: you have to pay for yourself or pay for half

72
00:03:47,480 --> 00:03:48,960
Speaker 2: food or something like that. So I had to go

73
00:03:49,080 --> 00:03:50,960
Speaker 2: get a job. I didn't end up going on the trip.

74
00:03:51,040 --> 00:03:52,960
Speaker 3: But it taught you some work ethic along the way.

75
00:03:53,040 --> 00:03:56,080
Speaker 2: Oh for sure. Since then, I've not been unemployed. So

76
00:03:56,600 --> 00:04:00,760
Speaker 2: finished high school, didn't go to UNI. Mum said that's fine,

77
00:04:00,800 --> 00:04:02,400
Speaker 2: but you have to go get a real job. Maccus

78
00:04:02,480 --> 00:04:05,520
Speaker 2: doesn't count. And then went into a customer service role

79
00:04:05,560 --> 00:04:08,000
Speaker 2: in my current company, and dance arounds from there.

80
00:04:08,120 --> 00:04:11,200
Speaker 3: So customer service and you've kind of bounced around from there.

81
00:04:11,360 --> 00:04:13,240
Speaker 3: Can we go back a little bit. I'm going to

82
00:04:13,280 --> 00:04:15,760
Speaker 3: get into what you do for work after this. In

83
00:04:15,880 --> 00:04:18,000
Speaker 3: your money, Darry, you said you're about to settle on

84
00:04:18,040 --> 00:04:20,240
Speaker 3: your second property. Do not tell me about that yet.

85
00:04:20,320 --> 00:04:21,880
Speaker 3: I actually want to know about the first one, the

86
00:04:21,960 --> 00:04:23,880
Speaker 3: juicy one, the one that's probably full of gossip, like,

87
00:04:24,000 --> 00:04:26,840
Speaker 3: let's go yes, first property you bought was a roller

88
00:04:26,880 --> 00:04:29,480
Speaker 3: coaster of buying with a friend, then having a falling out.

89
00:04:29,839 --> 00:04:31,440
Speaker 3: When did you buy, how did you buy? Why did

90
00:04:31,480 --> 00:04:33,200
Speaker 3: you buy with a friend? Tell us all the goss.

91
00:04:33,520 --> 00:04:35,920
Speaker 2: Yeah, So it actually kind of linked to the second one.

92
00:04:35,960 --> 00:04:38,159
Speaker 2: So I put the deposit off the plan four years ago,

93
00:04:38,880 --> 00:04:42,520
Speaker 2: and then it was all these delays and I expected it.

94
00:04:42,640 --> 00:04:44,640
Speaker 2: I'd been told about that, but it was just taking

95
00:04:44,640 --> 00:04:46,640
Speaker 2: a little longer than I'd liked. And I was living

96
00:04:47,160 --> 00:04:48,920
Speaker 2: with my sister and her partner in a rental and

97
00:04:48,960 --> 00:04:52,200
Speaker 2: I was just really sick of renting, and I was

98
00:04:52,360 --> 00:04:55,840
Speaker 2: looking at buying a place by myself and having my

99
00:04:55,920 --> 00:04:59,080
Speaker 2: friend move in with me. And then the agreement was

100
00:04:59,120 --> 00:05:01,000
Speaker 2: that when the second place came up, I would go

101
00:05:01,120 --> 00:05:03,080
Speaker 2: to that and she would stay in the first place

102
00:05:03,279 --> 00:05:05,680
Speaker 2: and continue to reunt off me, probably get a house

103
00:05:05,720 --> 00:05:07,800
Speaker 2: made in and go from there. And then her dad

104
00:05:07,960 --> 00:05:11,279
Speaker 2: kind of suggested, hey, why don't you buy together. It'll

105
00:05:11,360 --> 00:05:13,840
Speaker 2: increase your borrowing capacity and you'll be able to get

106
00:05:13,920 --> 00:05:16,480
Speaker 2: like a more suitable place. And I was a little

107
00:05:16,480 --> 00:05:20,359
Speaker 2: bit hesitant, just because I had done so much self education,

108
00:05:20,480 --> 00:05:22,960
Speaker 2: and I didn't know what her kind of levels or

109
00:05:23,040 --> 00:05:25,480
Speaker 2: understanding were, and so I said, look, if you can

110
00:05:25,880 --> 00:05:28,440
Speaker 2: look into everything yourself and kind of educate yourself and

111
00:05:28,480 --> 00:05:30,000
Speaker 2: then we'll come back and have a conversation on what

112
00:05:30,080 --> 00:05:33,359
Speaker 2: this actually entails and like what the responsibility is along

113
00:05:33,400 --> 00:05:36,760
Speaker 2: all that is. And she agreed, and I kind of

114
00:05:36,839 --> 00:05:39,640
Speaker 2: I was already speaking to a broker about my kind

115
00:05:39,640 --> 00:05:42,920
Speaker 2: of borrowing capacity, and I said, hey, if I did

116
00:05:43,080 --> 00:05:45,240
Speaker 2: this is her details, what would that look like? And

117
00:05:45,360 --> 00:05:47,880
Speaker 2: then yeah, we kind of different from there?

118
00:05:48,080 --> 00:05:50,280
Speaker 3: What made you go, yeah, buying with a friend is

119
00:05:50,320 --> 00:05:52,040
Speaker 3: a good idea, because you've already told me that you

120
00:05:52,080 --> 00:05:54,160
Speaker 3: were a little bit apprehensive. You were like, oh, I

121
00:05:54,240 --> 00:05:57,600
Speaker 3: could have done this on my own. So like, was

122
00:05:57,640 --> 00:05:59,880
Speaker 3: it just the increased borrowing capacity? Were you like this

123
00:06:00,160 --> 00:06:02,480
Speaker 3: is going to be great? Like what made you go

124
00:06:02,680 --> 00:06:03,200
Speaker 3: yeah great?

125
00:06:03,320 --> 00:06:06,040
Speaker 2: I'd actually lived with her before, so I kind of

126
00:06:06,120 --> 00:06:07,720
Speaker 2: I was like, I know we can get along and

127
00:06:07,800 --> 00:06:10,280
Speaker 2: I know we can have I guess, hard conversations and

128
00:06:10,320 --> 00:06:11,920
Speaker 2: all the issues that come up when you're living with someone.

129
00:06:11,960 --> 00:06:13,960
Speaker 2: I was like, I'm pretty sure we can both be responsible.

130
00:06:15,040 --> 00:06:16,880
Speaker 2: Just an extension of that, and it was like we

131
00:06:17,000 --> 00:06:19,440
Speaker 2: had started looking at places for if I was to

132
00:06:19,480 --> 00:06:21,560
Speaker 2: buy by myself, what was kind of in my range,

133
00:06:21,760 --> 00:06:23,800
Speaker 2: and it was always going to be an apartment or

134
00:06:23,839 --> 00:06:27,040
Speaker 2: a unit, and everything was having body corporate issues or

135
00:06:27,200 --> 00:06:29,520
Speaker 2: all those kinds of things, and so and then when

136
00:06:29,560 --> 00:06:31,960
Speaker 2: we did find out what the increase boring capacity was

137
00:06:31,960 --> 00:06:33,760
Speaker 2: when we were looking at kind of comparing things in

138
00:06:33,839 --> 00:06:36,920
Speaker 2: both ranges, that they were just more suitable for one

139
00:06:37,120 --> 00:06:39,880
Speaker 2: area we wanted to be and the quality of life

140
00:06:39,920 --> 00:06:41,560
Speaker 2: that we wanted if we both put in.

141
00:06:41,760 --> 00:06:43,600
Speaker 3: So you decide to go down this journey, you find

142
00:06:43,680 --> 00:06:45,760
Speaker 3: the house, you buy the house together. I'm assuming at

143
00:06:45,760 --> 00:06:49,320
Speaker 3: the very start, Sunshine and Roses, you both move in together.

144
00:06:49,600 --> 00:06:51,240
Speaker 3: Why did we fall out? What happened?

145
00:06:51,440 --> 00:06:54,600
Speaker 2: I think it was just we were on very different

146
00:06:55,240 --> 00:06:59,000
Speaker 2: journeys and like different stages in our life. I at

147
00:06:59,040 --> 00:07:01,320
Speaker 2: the time was in train for my current role and

148
00:07:01,800 --> 00:07:03,320
Speaker 2: was earning a little bit more but not a lot.

149
00:07:03,400 --> 00:07:07,440
Speaker 2: And then when I qualified, I got a significant pay rise,

150
00:07:07,800 --> 00:07:12,560
Speaker 2: and yeah, we just kind of started to have different values.

151
00:07:12,840 --> 00:07:15,640
Speaker 2: And on the friendship side of things, it kind of

152
00:07:15,960 --> 00:07:18,200
Speaker 2: I was saying, I'm very much a bedroom person and

153
00:07:18,280 --> 00:07:20,080
Speaker 2: she's very much a living room person. And it was

154
00:07:20,120 --> 00:07:22,120
Speaker 2: starting to get to a point where if we were

155
00:07:22,160 --> 00:07:25,880
Speaker 2: having a disagreement or whatever was happening, I wasn't comfortable

156
00:07:25,880 --> 00:07:27,480
Speaker 2: in my own space, and I was like, if I'm

157
00:07:27,680 --> 00:07:30,440
Speaker 2: going to own this property, I want to be comfortable

158
00:07:30,520 --> 00:07:33,880
Speaker 2: being here. And so I actually tried moving out and

159
00:07:33,960 --> 00:07:35,840
Speaker 2: living with my mum for a little bit, and I

160
00:07:35,920 --> 00:07:37,440
Speaker 2: was like, well, this doesn't make any sense. I was

161
00:07:37,480 --> 00:07:39,720
Speaker 2: actually paying sixty percent of all the expenses because it

162
00:07:39,760 --> 00:07:42,560
Speaker 2: wasn't a fifty to fifty split, and why am I

163
00:07:42,640 --> 00:07:44,600
Speaker 2: paying this if I'm not getting any benefit out of it?

164
00:07:44,720 --> 00:07:46,720
Speaker 2: And we did talk about if we were to sell

165
00:07:46,800 --> 00:07:48,360
Speaker 2: it or if we were going to rent it out

166
00:07:48,520 --> 00:07:51,600
Speaker 2: or kind of what that looked like, and we did

167
00:07:51,720 --> 00:07:54,240
Speaker 2: end up listing it and it just wasn't getting the

168
00:07:54,320 --> 00:07:57,200
Speaker 2: kind of interest that we needed for the amount that

169
00:07:57,280 --> 00:07:59,840
Speaker 2: we still had left on the mortgage. And it basically

170
00:08:00,000 --> 00:08:02,520
Speaker 2: turned around to me being to her one day being like,

171
00:08:03,040 --> 00:08:05,000
Speaker 2: here are your three options. You can find someone to

172
00:08:05,040 --> 00:08:06,920
Speaker 2: buy me out, I can buy you out, or we

173
00:08:07,000 --> 00:08:08,720
Speaker 2: can rent it through a property manager and just have

174
00:08:08,840 --> 00:08:11,680
Speaker 2: all communication through then because we can't come to an

175
00:08:11,720 --> 00:08:13,680
Speaker 2: agreement on what we want to do with this. And

176
00:08:13,760 --> 00:08:15,320
Speaker 2: pretty much from there she was just like fine, you

177
00:08:15,360 --> 00:08:17,520
Speaker 2: can have it. These are my terms. And I was like, sweet,

178
00:08:17,720 --> 00:08:20,280
Speaker 2: we'll get conveyance as the world to go from there.

179
00:08:20,440 --> 00:08:23,360
Speaker 3: And so I just from my mortgage breaker has gone

180
00:08:23,360 --> 00:08:25,520
Speaker 3: straight back on right. So you guys went to a

181
00:08:25,600 --> 00:08:27,960
Speaker 3: mortgage breaker, you would have had increased buying capacity. You

182
00:08:28,080 --> 00:08:30,600
Speaker 3: purchased probably for more than what you could have serviced

183
00:08:30,680 --> 00:08:33,800
Speaker 3: on your own income. How did you afford to buy

184
00:08:33,880 --> 00:08:34,199
Speaker 3: her out?

185
00:08:34,360 --> 00:08:36,599
Speaker 2: When we went through the process. Initially, I was in

186
00:08:36,720 --> 00:08:41,040
Speaker 2: training for my current role and the yeah, post qualification,

187
00:08:41,200 --> 00:08:42,440
Speaker 2: my income pretty much doubled.

188
00:08:42,559 --> 00:08:46,280
Speaker 3: Oh look at you. So you brought her out. That

189
00:08:46,440 --> 00:08:50,320
Speaker 3: is a great situation to be in. Then you've bought

190
00:08:50,480 --> 00:08:52,800
Speaker 3: and you're about to settle on this second property that

191
00:08:52,840 --> 00:08:54,959
Speaker 3: you were kind of like buying along the way, but

192
00:08:55,080 --> 00:08:57,240
Speaker 3: not along the way. Tell me about that.

193
00:08:58,040 --> 00:09:01,079
Speaker 2: Yeah, so it was meant to be my first property

194
00:09:01,559 --> 00:09:03,720
Speaker 2: way back when I was nineteen.

195
00:09:03,480 --> 00:09:06,760
Speaker 3: Nineteen, and buying a house is crazy in this economy, queen, Like,

196
00:09:06,880 --> 00:09:08,720
Speaker 3: what is that? That's iconic.

197
00:09:10,320 --> 00:09:13,360
Speaker 2: I'd been talking to mom about looking at property in general,

198
00:09:13,480 --> 00:09:17,559
Speaker 2: and we talked about building, and I didn't want a

199
00:09:17,640 --> 00:09:20,560
Speaker 2: full house. I didn't want the responsibility of a yard

200
00:09:20,679 --> 00:09:22,520
Speaker 2: and a lot of cleaning. I was like, I'm happy

201
00:09:22,559 --> 00:09:25,040
Speaker 2: if it's just me to be in an apartment, and

202
00:09:25,160 --> 00:09:27,120
Speaker 2: we were looking around, and I don't know how I

203
00:09:27,200 --> 00:09:29,480
Speaker 2: got to off the plan. It was actually just kind

204
00:09:29,520 --> 00:09:31,679
Speaker 2: of well, I was looking at established and off the

205
00:09:31,720 --> 00:09:33,520
Speaker 2: plan and kind of really fell in love with this

206
00:09:33,600 --> 00:09:35,640
Speaker 2: one and went to the display suite. They hadn't spoke

207
00:09:35,720 --> 00:09:37,880
Speaker 2: to them, and I was one of the first to

208
00:09:38,000 --> 00:09:40,800
Speaker 2: buy in, and so I knew it was going to

209
00:09:40,840 --> 00:09:43,960
Speaker 2: be a long time coming. And they were very transparent

210
00:09:44,000 --> 00:09:45,680
Speaker 2: in the whole way. Every time they did have delays,

211
00:09:45,720 --> 00:09:47,439
Speaker 2: they were very upfront about what was going on. So

212
00:09:47,840 --> 00:09:50,160
Speaker 2: I was just kind of waiting for it to be done,

213
00:09:50,800 --> 00:09:54,679
Speaker 2: and yeah, it's we're just in the paperwork process. Now

214
00:09:54,880 --> 00:09:57,240
Speaker 2: put the deposit down ten percent deposit at the time,

215
00:09:57,320 --> 00:10:00,280
Speaker 2: and then don't pay anything until settlement. So kind of

216
00:10:00,320 --> 00:10:01,400
Speaker 2: like I knew it was going to be a fair

217
00:10:01,440 --> 00:10:03,079
Speaker 2: while away, so as like I have time to kind

218
00:10:03,120 --> 00:10:05,719
Speaker 2: of hopefully save up the other ten percent or have

219
00:10:05,960 --> 00:10:07,959
Speaker 2: some kind of buffer there and go from it.

220
00:10:08,600 --> 00:10:10,839
Speaker 3: Have any spanner has been put in the works because

221
00:10:10,880 --> 00:10:13,400
Speaker 3: you bought another house during this process or was that

222
00:10:13,520 --> 00:10:16,000
Speaker 3: always like part of your cash flow planned. I'm just

223
00:10:16,080 --> 00:10:17,719
Speaker 3: so pervy. I'm so sorry I got to know.

224
00:10:17,960 --> 00:10:21,360
Speaker 2: Oh yeah, so I Actually it was funny. We settled

225
00:10:21,400 --> 00:10:24,120
Speaker 2: on the first place and within a month they'd kind

226
00:10:24,160 --> 00:10:26,040
Speaker 2: of sent me an update, being like, hey, here's your

227
00:10:26,520 --> 00:10:31,000
Speaker 2: new timeline. And in hindsight, I'd wish I hadn't bought

228
00:10:31,120 --> 00:10:34,520
Speaker 2: the first place because I've lost some of my first

229
00:10:34,559 --> 00:10:38,480
Speaker 2: homeowner power to the first Yeah, because it would have

230
00:10:38,520 --> 00:10:40,040
Speaker 2: been a new build, and there would have been more

231
00:10:40,400 --> 00:10:42,839
Speaker 2: entitlements for that, which you know, it is what it is,

232
00:10:42,920 --> 00:10:46,120
Speaker 2: and it's worked out how it has and I'm able

233
00:10:46,200 --> 00:10:49,880
Speaker 2: to afford it. But yeah, just knowing how everything's played out,

234
00:10:50,000 --> 00:10:52,320
Speaker 2: I wished that I'd held off another month or two

235
00:10:52,360 --> 00:10:54,080
Speaker 2: because I think if I got that email saying hey,

236
00:10:54,160 --> 00:10:56,800
Speaker 2: here's your timeline, I just would have continued renting. Yeah,

237
00:10:56,960 --> 00:10:59,000
Speaker 2: but it's all worked out and it is what it is.

238
00:10:59,240 --> 00:11:01,840
Speaker 2: And then, yeah, I never I never planned to own

239
00:11:02,360 --> 00:11:05,120
Speaker 2: two properties by this stage. Eventually I will. I'm looking

240
00:11:05,160 --> 00:11:07,880
Speaker 2: at renting out the existing property. So never planned to

241
00:11:07,920 --> 00:11:09,520
Speaker 2: be a landlord. But that's why we've ended up.

242
00:11:09,920 --> 00:11:12,319
Speaker 3: So tell me a bit more. Like you said, oh

243
00:11:12,559 --> 00:11:16,920
Speaker 3: my first property at nineteen queen unrelatable, unrelatable, And you

244
00:11:17,040 --> 00:11:19,760
Speaker 3: said no, I'm not going to UNI. I've just had

245
00:11:19,920 --> 00:11:22,199
Speaker 3: I had so many questions and I'm so excited for you,

246
00:11:22,760 --> 00:11:24,880
Speaker 3: But how did you put yourself in a position to

247
00:11:24,960 --> 00:11:27,240
Speaker 3: be able to purchase your first home at nineteen? Like,

248
00:11:27,360 --> 00:11:28,319
Speaker 3: what's that about?

249
00:11:28,640 --> 00:11:31,319
Speaker 2: Yeah? Well, so I knew I didn't want to go

250
00:11:31,400 --> 00:11:33,280
Speaker 2: to UNI because I wasn't sure what I wanted to study.

251
00:11:33,360 --> 00:11:34,839
Speaker 2: And it was always like, I can go back and

252
00:11:34,880 --> 00:11:37,000
Speaker 2: do it later if I wanted to. I don't want

253
00:11:37,000 --> 00:11:38,439
Speaker 2: to get a hack stet just for the sake of

254
00:11:39,000 --> 00:11:39,319
Speaker 2: doing it.

255
00:11:39,440 --> 00:11:41,200
Speaker 3: You're wiser than your years.

256
00:11:42,600 --> 00:11:44,520
Speaker 2: And so I kind of back to Mum saying, you know,

257
00:11:44,559 --> 00:11:46,000
Speaker 2: if you don't want to go to UNI, that's fine,

258
00:11:46,040 --> 00:11:48,839
Speaker 2: but you have to go get a real job. Macis

259
00:11:48,880 --> 00:11:51,040
Speaker 2: do's account. And I ended up in the company that

260
00:11:51,120 --> 00:11:54,640
Speaker 2: I worked for, doing a customer service role, and I

261
00:11:54,920 --> 00:11:58,120
Speaker 2: was part time, and I remember looking at my the

262
00:11:58,200 --> 00:12:00,480
Speaker 2: first full financial year that I'd worked in that role

263
00:12:00,559 --> 00:12:02,880
Speaker 2: part time, I earned seventy games.

264
00:12:02,920 --> 00:12:03,959
Speaker 3: Oh okay, queen.

265
00:12:04,160 --> 00:12:08,400
Speaker 2: And in that time, I'd moved out into a sharehouse

266
00:12:08,679 --> 00:12:11,079
Speaker 2: and we were paying not a lot for rent and

267
00:12:11,400 --> 00:12:15,839
Speaker 2: this is twenty twenty COVID times, and I'd bought a

268
00:12:15,960 --> 00:12:19,160
Speaker 2: car on a loan and then paid it out early,

269
00:12:19,240 --> 00:12:21,000
Speaker 2: and I was kind of like, Okay, I've got all

270
00:12:21,000 --> 00:12:23,280
Speaker 2: this income. At that stage, i'd paid off my car loan,

271
00:12:23,280 --> 00:12:25,520
Speaker 2: I didn't have any debts. I was like, I can well,

272
00:12:25,559 --> 00:12:28,199
Speaker 2: I can't travel, it's COVID, but I can put this

273
00:12:28,360 --> 00:12:31,880
Speaker 2: money towards something. Or if I don't have a goal,

274
00:12:32,240 --> 00:12:34,880
Speaker 2: I know I'll just spend it frivolously. So I was like,

275
00:12:35,120 --> 00:12:38,880
Speaker 2: if I have something in place that I'm working towards,

276
00:12:39,400 --> 00:12:41,080
Speaker 2: I'll stick to it. If I don't have a goal

277
00:12:41,200 --> 00:12:42,480
Speaker 2: that I'll fliter it away.

278
00:12:42,600 --> 00:12:45,120
Speaker 3: The hustle is real. I adore that you didn't have

279
00:12:45,200 --> 00:12:46,920
Speaker 3: to go to UNI. Now I want to ask what

280
00:12:47,000 --> 00:12:48,720
Speaker 3: do you do for work? How much money do you earn?

281
00:12:48,960 --> 00:12:51,880
Speaker 2: Yes, I'm a train driver. Oh that is so cool.

282
00:12:52,720 --> 00:12:55,600
Speaker 3: I did not see that coming. Guys, hottest train driver

283
00:12:55,720 --> 00:12:56,280
Speaker 3: I've ever met.

284
00:12:57,880 --> 00:13:01,640
Speaker 2: And our base rate is is about one hundred and thirty.

285
00:13:01,760 --> 00:13:04,199
Speaker 2: But just through the nature of our job, it's shift

286
00:13:04,280 --> 00:13:08,000
Speaker 2: working in penalties. So last financial year I just under

287
00:13:08,000 --> 00:13:08,720
Speaker 2: one hundred and eighty.

288
00:13:08,920 --> 00:13:12,520
Speaker 3: Sorry, what so you earned one eighty and you're still

289
00:13:12,559 --> 00:13:15,839
Speaker 3: a child? You are turning twenty four tomorrow. Sorry, this

290
00:13:16,120 --> 00:13:18,840
Speaker 3: is a ridiculously good looking train driver. I hope you're

291
00:13:18,880 --> 00:13:20,719
Speaker 3: driving my trains next time I'm on them. That is

292
00:13:20,840 --> 00:13:22,880
Speaker 3: so cool. And I just love the oar making bank.

293
00:13:22,960 --> 00:13:25,480
Speaker 3: And also I love that I knew this because I

294
00:13:25,559 --> 00:13:28,160
Speaker 3: have had train driver clients before when I was a

295
00:13:28,240 --> 00:13:31,959
Speaker 3: financial advisor. But I don't think people understand how well

296
00:13:32,080 --> 00:13:34,920
Speaker 3: remunerated train drivers are because of the amount of risk

297
00:13:35,040 --> 00:13:35,400
Speaker 3: you take.

298
00:13:35,840 --> 00:13:38,360
Speaker 2: Yes, we are very well looked after, good as you

299
00:13:38,520 --> 00:13:38,959
Speaker 2: should be.

300
00:13:39,520 --> 00:13:42,480
Speaker 3: So tell me this is what your money doubled. You

301
00:13:42,559 --> 00:13:45,319
Speaker 3: know you said earlier. You know, my I was in

302
00:13:45,440 --> 00:13:47,520
Speaker 3: training and then it wasn't and my money doubled. What

303
00:13:47,640 --> 00:13:49,600
Speaker 3: did that look like? How did you get into this industry?

304
00:13:49,640 --> 00:13:51,079
Speaker 3: How did you go all right, well, I'm going to

305
00:13:51,120 --> 00:13:54,080
Speaker 3: become a train driver. Yeah, where does that come from?

306
00:13:54,400 --> 00:13:56,520
Speaker 2: Just straight out of high school. I was just applying

307
00:13:56,640 --> 00:13:59,439
Speaker 2: knowing I didn't really have any qualifications, applying for customer service.

308
00:13:59,480 --> 00:14:01,440
Speaker 2: It was funny. I was actually applying for a job

309
00:14:01,600 --> 00:14:04,280
Speaker 2: out at the airport at the same time, ended up

310
00:14:04,320 --> 00:14:07,520
Speaker 2: in this just a general customer service role, which thank

311
00:14:07,600 --> 00:14:10,320
Speaker 2: god it didn't work out at the airport because COVID

312
00:14:10,400 --> 00:14:14,640
Speaker 2: happened shortly afterwards, and then through that talk to kind

313
00:14:14,679 --> 00:14:16,920
Speaker 2: of other people in the company and other roles, and

314
00:14:17,480 --> 00:14:20,000
Speaker 2: any driver I spoke to is the best show. They'll

315
00:14:20,040 --> 00:14:21,880
Speaker 2: all say that. And I was like, oh, but like

316
00:14:21,960 --> 00:14:24,280
Speaker 2: there's got to be some downsides, and like there is,

317
00:14:24,440 --> 00:14:27,120
Speaker 2: but it's very much outweighed. And so I was a

318
00:14:27,160 --> 00:14:29,360
Speaker 2: part time in customer service and I just wanted a

319
00:14:29,400 --> 00:14:32,640
Speaker 2: full time role, and I'd applied for anything and everything,

320
00:14:33,200 --> 00:14:37,000
Speaker 2: and I actually ended up in another department, and shortly

321
00:14:37,080 --> 00:14:39,560
Speaker 2: after I started in the new department, the drivers came

322
00:14:39,600 --> 00:14:40,920
Speaker 2: back to me and said, Hey, do you want to

323
00:14:40,920 --> 00:14:43,400
Speaker 2: come to interview? And I did, and then I didn't

324
00:14:43,480 --> 00:14:47,040
Speaker 2: end up getting through, and then I left the company

325
00:14:47,120 --> 00:14:49,200
Speaker 2: to go do admin work, and I saw that they

326
00:14:49,200 --> 00:14:51,800
Speaker 2: were applying for drivers again, and so I put in

327
00:14:51,920 --> 00:14:54,400
Speaker 2: for it out of spite more than anything. I just

328
00:14:54,520 --> 00:14:55,800
Speaker 2: kind of wanted to prove, like you.

329
00:14:55,840 --> 00:14:58,040
Speaker 3: Were, like, I can actually do this. You guys are

330
00:14:58,160 --> 00:14:58,560
Speaker 3: missing it.

331
00:14:58,760 --> 00:14:58,960
Speaker 4: Yeah.

332
00:14:59,040 --> 00:15:00,880
Speaker 2: I was like, I need to, but I can get

333
00:15:00,920 --> 00:15:02,840
Speaker 2: this role. Yeah. And then when they did offer it

334
00:15:02,960 --> 00:15:05,040
Speaker 2: to me, i'd actually spoken to my manager at the

335
00:15:05,160 --> 00:15:06,720
Speaker 2: job that I was in and I was like, Hey,

336
00:15:06,840 --> 00:15:09,400
Speaker 2: what's the kind of room for growth here? And she's

337
00:15:09,480 --> 00:15:11,320
Speaker 2: kind of like you kind of capped out at the moment,

338
00:15:11,440 --> 00:15:13,040
Speaker 2: and so I was like, wow, I'm going to go.

339
00:15:13,200 --> 00:15:15,680
Speaker 3: Then that's kind of helpful for her to be that transparent.

340
00:15:15,840 --> 00:15:18,360
Speaker 3: I feel like to keep staff, people will often delude

341
00:15:18,400 --> 00:15:19,880
Speaker 3: you and be like, oh, baby, you just need to

342
00:15:19,880 --> 00:15:22,120
Speaker 3: spend another year in the role and then you know

343
00:15:22,280 --> 00:15:25,200
Speaker 3: you'll be promoted. But like, thanks Queen for being transparent

344
00:15:25,280 --> 00:15:27,120
Speaker 3: with me so I can make decisions about my career.

345
00:15:27,480 --> 00:15:30,280
Speaker 2: Yeah. And it was funny because I was actually dating

346
00:15:30,360 --> 00:15:32,120
Speaker 2: someone in the office and a week before I got

347
00:15:32,160 --> 00:15:34,480
Speaker 2: the driving role, we broke up and so I was like,

348
00:15:34,520 --> 00:15:36,520
Speaker 2: I don't want to be here. I'm not hanging around

349
00:15:36,720 --> 00:15:41,040
Speaker 2: like catsher. Yeah. So I went to driving and did

350
00:15:41,240 --> 00:15:43,440
Speaker 2: about a year of training and it's all paid training,

351
00:15:43,560 --> 00:15:44,800
Speaker 2: and in that year was when we.

352
00:15:45,200 --> 00:15:48,520
Speaker 3: Got paid to do the training. Yeah, it's the dream.

353
00:15:48,640 --> 00:15:50,840
Speaker 2: So it came out with us at floor and yeah,

354
00:15:50,880 --> 00:15:52,640
Speaker 2: they pay for all your put you through training. So

355
00:15:52,920 --> 00:15:55,120
Speaker 2: working full time through training and then I was also

356
00:15:55,960 --> 00:15:59,640
Speaker 2: because I'm insane working hospitality at the same time, just

357
00:15:59,720 --> 00:16:02,960
Speaker 2: to spending money more than anything. And then good job

358
00:16:03,040 --> 00:16:05,160
Speaker 2: and then yeah, qualified a year later and it's been

359
00:16:05,200 --> 00:16:05,840
Speaker 2: full time since.

360
00:16:06,000 --> 00:16:09,880
Speaker 3: Wow, And are there any other like career trajectory things

361
00:16:09,920 --> 00:16:11,960
Speaker 3: once you become a train driver, Like I don't know

362
00:16:12,480 --> 00:16:14,400
Speaker 3: enough about once you hit that like one eighty mark,

363
00:16:14,560 --> 00:16:16,440
Speaker 3: Is that like the top because that's a lot. That's

364
00:16:16,480 --> 00:16:18,200
Speaker 3: a lot, Like we don't need more than that, but

365
00:16:18,360 --> 00:16:19,680
Speaker 3: like I'm just pervy.

366
00:16:19,840 --> 00:16:22,320
Speaker 2: Yeah, there are a couple opportunities if you want to

367
00:16:22,320 --> 00:16:25,520
Speaker 2: get into like the training space or like the compliance space,

368
00:16:25,800 --> 00:16:29,000
Speaker 2: but the bulk of drivers are just kind of at

369
00:16:29,040 --> 00:16:29,720
Speaker 2: that base level.

370
00:16:29,840 --> 00:16:32,640
Speaker 3: Yeah, And are you planning on doing any of that

371
00:16:32,880 --> 00:16:35,440
Speaker 3: or are you? Like, girl, I'm literally twenty four earning

372
00:16:35,520 --> 00:16:37,440
Speaker 3: one eighty grand a year, Like I don't need you

373
00:16:37,680 --> 00:16:39,800
Speaker 3: and I don't need any more roles, but like, what's

374
00:16:39,840 --> 00:16:40,800
Speaker 3: the plan for the future.

375
00:16:40,960 --> 00:16:42,960
Speaker 2: I can't sit still. I need to have something to

376
00:16:43,040 --> 00:16:43,640
Speaker 2: work towards.

377
00:16:43,760 --> 00:16:46,160
Speaker 3: Neither can I. Like I'm a feral human being. Sorry,

378
00:16:46,160 --> 00:16:46,640
Speaker 3: it's all good.

379
00:16:46,680 --> 00:16:50,440
Speaker 2: Yeah, Actually we were suspecting a little bit of Neurospicy.

380
00:16:50,480 --> 00:16:54,680
Speaker 2: I've actually got my assessment tomorrow, so nothing's confirmed, but.

381
00:16:54,840 --> 00:16:57,320
Speaker 3: I feel like it. She's on the money. We find them,

382
00:16:57,960 --> 00:16:59,800
Speaker 3: Like everybody in my team I think is a lot

383
00:17:00,160 --> 00:17:02,880
Speaker 3: nearer spicy. Everyone that I get along whiz like you,

384
00:17:03,160 --> 00:17:05,520
Speaker 3: like if I start to vibe with you on a

385
00:17:06,040 --> 00:17:08,040
Speaker 3: money diry. It's probably because we're on the same page,

386
00:17:08,119 --> 00:17:09,920
Speaker 3: and I don't think that's a bad thing. It's good

387
00:17:09,960 --> 00:17:11,719
Speaker 3: to know more about yourself. But it is low key

388
00:17:11,840 --> 00:17:12,760
Speaker 3: kind of funny, yes.

389
00:17:13,000 --> 00:17:15,080
Speaker 2: But yeah, So ideally I would like to get into,

390
00:17:15,320 --> 00:17:18,879
Speaker 2: preferably training. There are requirements on like you have to

391
00:17:19,080 --> 00:17:21,920
Speaker 2: have a minimum time qualified and things like that, so

392
00:17:22,040 --> 00:17:24,159
Speaker 2: there's not a lot I can do right now, but

393
00:17:24,440 --> 00:17:27,000
Speaker 2: just kind of making sure I know my job really

394
00:17:27,040 --> 00:17:28,520
Speaker 2: well so that when I do go for things in

395
00:17:28,560 --> 00:17:29,040
Speaker 2: the future.

396
00:17:29,480 --> 00:17:32,679
Speaker 3: Yeah, oh, I love that. So your own two property

397
00:17:32,760 --> 00:17:34,640
Speaker 3: is like you're about to settle on the second one

398
00:17:34,920 --> 00:17:36,520
Speaker 3: and there's no bumps in the road there. What are

399
00:17:36,520 --> 00:17:39,120
Speaker 3: your other big money goals? What are you currently working towards.

400
00:17:39,440 --> 00:17:42,119
Speaker 2: I was on and off investing and so at the moment,

401
00:17:42,400 --> 00:17:44,199
Speaker 2: my goal is just to be a little bit more

402
00:17:44,280 --> 00:17:46,639
Speaker 2: regular with them, because I can't sit still and I

403
00:17:46,720 --> 00:17:49,320
Speaker 2: do get bored. There's every chance that's somewhere down the

404
00:17:49,400 --> 00:17:51,440
Speaker 2: line I'm going to want to change career paths, and

405
00:17:51,480 --> 00:17:54,120
Speaker 2: I'm aware that that's probably going to take a pay cut.

406
00:17:54,240 --> 00:17:56,200
Speaker 2: So I want to try and set up as much

407
00:17:56,320 --> 00:17:58,520
Speaker 2: passive income as I can now. So that if I

408
00:17:58,600 --> 00:18:01,800
Speaker 2: do decide to do something else, I'm not feeling as

409
00:18:01,920 --> 00:18:04,159
Speaker 2: much of a drop. Or if I do decide to

410
00:18:04,640 --> 00:18:07,440
Speaker 2: drive forever, then yeah, trying to set that up so

411
00:18:07,600 --> 00:18:10,840
Speaker 2: that I have the option to retire by fifty I

412
00:18:10,880 --> 00:18:13,119
Speaker 2: should say, I think I'd get bored if I had

413
00:18:13,200 --> 00:18:14,240
Speaker 2: to stop working.

414
00:18:14,080 --> 00:18:16,439
Speaker 3: But knowing that staying, but I want the option. Knowing

415
00:18:16,480 --> 00:18:18,440
Speaker 3: I have the option too, I love that for you.

416
00:18:18,680 --> 00:18:20,520
Speaker 3: Let's go to a really quick break because on the

417
00:18:20,520 --> 00:18:23,160
Speaker 3: flip side, you've baited me. He said, Oh I was investing.

418
00:18:23,280 --> 00:18:25,000
Speaker 3: You didn't give me any information about that. So I'm

419
00:18:25,000 --> 00:18:26,560
Speaker 3: going to deep dive into that. I want to know

420
00:18:26,680 --> 00:18:28,200
Speaker 3: how the hell like twenty four you're going to have

421
00:18:28,240 --> 00:18:30,520
Speaker 3: one hundred grand in your super. And then I want

422
00:18:30,560 --> 00:18:32,640
Speaker 3: to know a little bit more about these mortgages because

423
00:18:32,640 --> 00:18:34,520
Speaker 3: we're going to get into the nitty gritty, So guys

424
00:18:34,720 --> 00:18:41,080
Speaker 3: don't go anywhere, all right, money darist, we are back.

425
00:18:41,240 --> 00:18:44,000
Speaker 3: I want to know tell me more about your investments.

426
00:18:44,320 --> 00:18:48,119
Speaker 3: So first, cab off the rank superannuation nearly one hundred

427
00:18:48,160 --> 00:18:49,520
Speaker 3: grand twenty.

428
00:18:49,240 --> 00:18:53,360
Speaker 2: Four, How I actually to this stage, haven't made any

429
00:18:53,359 --> 00:18:58,280
Speaker 2: additional contributions I currently have. Last I checked, it's about

430
00:18:58,280 --> 00:19:02,520
Speaker 2: seventy thousand, and I was actually listening to the Super

431
00:19:02,600 --> 00:19:06,159
Speaker 2: episodes last week. But I started listening to Cheese on

432
00:19:06,160 --> 00:19:09,240
Speaker 2: the Money when I was eighteen, and I just started

433
00:19:09,480 --> 00:19:13,200
Speaker 2: a work out of high school, and I remember changing

434
00:19:13,240 --> 00:19:16,040
Speaker 2: to a growth portfolio from eighteen. So that's been a

435
00:19:16,040 --> 00:19:17,040
Speaker 2: couple of years in the making.

436
00:19:17,200 --> 00:19:19,679
Speaker 3: That is going to put you so far ahead. I'm obsessed, and.

437
00:19:19,720 --> 00:19:22,399
Speaker 2: I also maybe not the best decision I've made, but

438
00:19:22,760 --> 00:19:25,120
Speaker 2: I turned off most of my insurances at the time

439
00:19:25,160 --> 00:19:27,480
Speaker 2: because they didn't feel like they fit, and it's kind

440
00:19:27,480 --> 00:19:29,560
Speaker 2: of being the role that I'm in now. A lot

441
00:19:29,640 --> 00:19:32,000
Speaker 2: of them I wouldn't be covered for anyway because we

442
00:19:32,080 --> 00:19:34,840
Speaker 2: are considered high risk, and so that's something I need

443
00:19:34,880 --> 00:19:37,159
Speaker 2: to sort outside of Super. But yeah, I've set that

444
00:19:37,280 --> 00:19:39,040
Speaker 2: up pretty sure. I would have been eighteen at the time,

445
00:19:39,080 --> 00:19:40,640
Speaker 2: so that's had a couple of years to tick over,

446
00:19:41,400 --> 00:19:43,760
Speaker 2: and then I'm just kind of monitoring it over the

447
00:19:43,840 --> 00:19:46,159
Speaker 2: next year and if I do need to add a

448
00:19:46,200 --> 00:19:48,720
Speaker 2: little bit to bump it up to that hundred. But

449
00:19:48,840 --> 00:19:52,600
Speaker 2: at the last two financial years they've had twenty to

450
00:19:52,680 --> 00:19:56,040
Speaker 2: twenty five thousand dollars just through employer contributions nice, so

451
00:19:56,560 --> 00:19:59,960
Speaker 2: it's pretty much set to hit it itself at this stage.

452
00:20:00,240 --> 00:20:02,560
Speaker 3: That is so crazy to me, like in the best

453
00:20:02,680 --> 00:20:06,320
Speaker 3: possible ways. Now I want to talk about your other investments,

454
00:20:06,359 --> 00:20:08,840
Speaker 3: and then I'm going to ask about personal insurances because

455
00:20:08,880 --> 00:20:11,400
Speaker 3: you just touched on that. But with your other investments,

456
00:20:11,440 --> 00:20:13,159
Speaker 3: you said you've dipped in and out of the market.

457
00:20:13,680 --> 00:20:15,280
Speaker 3: What were you doing? How are you doing it? Why

458
00:20:15,480 --> 00:20:17,720
Speaker 3: dip in and out? Like what what is your kind

459
00:20:17,760 --> 00:20:19,399
Speaker 3: of strategy or is it a play or is it

460
00:20:19,520 --> 00:20:19,840
Speaker 3: a plan.

461
00:20:20,240 --> 00:20:23,719
Speaker 2: I'd read The Barefoot Investor and I'd kind of had

462
00:20:23,760 --> 00:20:26,320
Speaker 2: a rough idea of what investing was, but I didn't

463
00:20:26,400 --> 00:20:29,200
Speaker 2: really look into it at that stage. And then the

464
00:20:29,320 --> 00:20:32,919
Speaker 2: partner I had when I was eighteen was very financially savvy.

465
00:20:33,000 --> 00:20:36,719
Speaker 2: He didn't earn a heap, but was into investing, how

466
00:20:36,760 --> 00:20:39,560
Speaker 2: to really solid emergency fund, owned his car outright, all

467
00:20:39,600 --> 00:20:41,760
Speaker 2: these things, and it was just something we kind of

468
00:20:41,800 --> 00:20:45,119
Speaker 2: spoke about generally, and so I guess my brain kind

469
00:20:45,119 --> 00:20:46,200
Speaker 2: of went, oh, well, if he can do it, I

470
00:20:46,240 --> 00:20:46,560
Speaker 2: can do it.

471
00:20:46,680 --> 00:20:48,439
Speaker 3: How could it be men do it all the time.

472
00:20:48,440 --> 00:20:51,000
Speaker 2: Exactly, And like I'd asked him, like, oh, what are

473
00:20:51,040 --> 00:20:54,119
Speaker 2: you invest in? And I didn't invest exactly in the

474
00:20:54,200 --> 00:20:56,959
Speaker 2: same things, but I didn't do as much research as

475
00:20:57,040 --> 00:21:00,600
Speaker 2: I should have. But I ended up with two ETFs

476
00:21:00,680 --> 00:21:03,919
Speaker 2: and also Quantus shares randomly, which actually worked out really

477
00:21:03,960 --> 00:21:06,120
Speaker 2: well for me because this was right at the start

478
00:21:06,160 --> 00:21:08,200
Speaker 2: of the COVID, so their share prices was really low,

479
00:21:08,280 --> 00:21:10,200
Speaker 2: and then I held it long enough that when everything

480
00:21:10,280 --> 00:21:12,240
Speaker 2: bounced back, I actually got a pretty good, yes.

481
00:21:12,320 --> 00:21:13,440
Speaker 3: Very nice turn on it.

482
00:21:13,760 --> 00:21:15,600
Speaker 2: And then yeah, so kind of put in an initial

483
00:21:15,600 --> 00:21:19,359
Speaker 2: amount I remember exactly what it was, and then didn't

484
00:21:19,400 --> 00:21:21,280
Speaker 2: touch it for six months, and then I was like, oh,

485
00:21:21,560 --> 00:21:23,399
Speaker 2: I'll put some more in, and I think I just

486
00:21:23,480 --> 00:21:26,320
Speaker 2: did that for the first two years, and I think

487
00:21:26,400 --> 00:21:29,360
Speaker 2: overall I put maybe five grand in, and then close

488
00:21:29,440 --> 00:21:32,960
Speaker 2: to two years now, when I qualified at work, I

489
00:21:33,080 --> 00:21:35,080
Speaker 2: was like, Okay, I'm going to start regually investing, and

490
00:21:35,119 --> 00:21:38,000
Speaker 2: I set up a transfer of like five hundred dollars

491
00:21:38,000 --> 00:21:40,600
Speaker 2: a fortnight. And then somewhere I think around the time

492
00:21:40,880 --> 00:21:43,080
Speaker 2: of buying my friend out, and I was kind of like, oh,

493
00:21:43,119 --> 00:21:46,000
Speaker 2: I've got to redo my cashhow I maybe don't have the.

494
00:21:46,040 --> 00:21:48,680
Speaker 3: Allocation for this, and so I would have done the

495
00:21:48,720 --> 00:21:49,080
Speaker 3: same thing.

496
00:21:49,280 --> 00:21:52,639
Speaker 2: Yeah, So I just left everything in there and just

497
00:21:52,760 --> 00:21:55,480
Speaker 2: stopped adding to it, and then just recently, in the

498
00:21:55,560 --> 00:21:59,000
Speaker 2: last two months, I've kind of restarted that she's back

499
00:21:59,320 --> 00:22:02,560
Speaker 2: back at a five hundred a fortnight, and I've kind

500
00:22:02,560 --> 00:22:05,320
Speaker 2: of added to extra atfs in there and just letting

501
00:22:05,320 --> 00:22:05,840
Speaker 2: it tick along.

502
00:22:05,880 --> 00:22:08,359
Speaker 3: At this stage, I'm obsessed with that. But I know

503
00:22:08,760 --> 00:22:10,120
Speaker 3: you're not going to want to hear this, but you're

504
00:22:10,160 --> 00:22:12,399
Speaker 3: setting yourself up for a little argument with me at

505
00:22:12,400 --> 00:22:16,520
Speaker 3: the end of this show, like you told me euro b. Yes, sorry,

506
00:22:17,320 --> 00:22:19,440
Speaker 3: that's not very b behavior, but we'll get there. The

507
00:22:19,520 --> 00:22:21,520
Speaker 3: next question I really want to loop back on is

508
00:22:21,560 --> 00:22:23,760
Speaker 3: tell me about your personal insurances. Like you said that

509
00:22:23,840 --> 00:22:26,640
Speaker 3: you canceled some of them through superannuation and you don't

510
00:22:26,680 --> 00:22:29,359
Speaker 3: think you can get them back. What does that look like.

511
00:22:29,520 --> 00:22:33,040
Speaker 3: Have you ever seen an insurance financial advisor.

512
00:22:32,760 --> 00:22:35,600
Speaker 2: Or like, what have you done? Yes, at this stage,

513
00:22:35,880 --> 00:22:37,520
Speaker 2: I don't have any, and I really should.

514
00:22:37,560 --> 00:22:38,919
Speaker 3: I can fix that for you or set you up

515
00:22:38,960 --> 00:22:40,520
Speaker 3: with my mate Field. It's good. It's all good.

516
00:22:41,200 --> 00:22:42,560
Speaker 2: This is kind of where it comes into the be

517
00:22:42,840 --> 00:22:44,760
Speaker 2: of like I know what I need to do, and

518
00:22:44,880 --> 00:22:46,440
Speaker 2: I just have it got around to doing it. I

519
00:22:46,520 --> 00:22:49,800
Speaker 2: also I booked in to see a financial advisor just

520
00:22:49,920 --> 00:22:52,320
Speaker 2: generally and kind of make a bit of a plan,

521
00:22:52,440 --> 00:22:56,399
Speaker 2: because as much as I've educated myself, I kind of

522
00:22:56,400 --> 00:22:58,359
Speaker 2: want the reassurance of someone telling me I'm doing the

523
00:22:58,440 --> 00:22:58,880
Speaker 2: right thing.

524
00:22:58,880 --> 00:23:01,560
Speaker 3: When you have that much income. Girlfriend, it's just a

525
00:23:01,680 --> 00:23:02,760
Speaker 3: smart money decision.

526
00:23:02,880 --> 00:23:06,159
Speaker 2: Yeah. And then I had like the initial appointment, and

527
00:23:06,200 --> 00:23:09,320
Speaker 2: then I never went back because so much had changed

528
00:23:09,359 --> 00:23:12,920
Speaker 2: in my situation between because there's such a waiting list,

529
00:23:13,040 --> 00:23:14,280
Speaker 2: and I was like, why don't like they're going to

530
00:23:14,320 --> 00:23:16,040
Speaker 2: give me advice now, and then it's going to change again.

531
00:23:16,080 --> 00:23:18,919
Speaker 2: And so I've kind of because this second property has

532
00:23:18,920 --> 00:23:20,560
Speaker 2: been so long in the making, I'm like, I will

533
00:23:20,600 --> 00:23:22,879
Speaker 2: sort it all out once that's settled and things are

534
00:23:22,920 --> 00:23:25,480
Speaker 2: going to stop changing. And so I'm kind of like, oh,

535
00:23:25,520 --> 00:23:27,879
Speaker 2: there's the things I need to do, I'll just do

536
00:23:27,960 --> 00:23:29,800
Speaker 2: them later. And I'm just kind of hoping nothing goes

537
00:23:29,840 --> 00:23:30,800
Speaker 2: wrong with knowing them.

538
00:23:30,920 --> 00:23:32,880
Speaker 3: Yeah, And I know, I just really want to touch

539
00:23:32,920 --> 00:23:35,480
Speaker 3: on this because I actually, for some reason I got

540
00:23:35,560 --> 00:23:38,080
Speaker 3: when I was a financial advisor, a lot of Metro employees,

541
00:23:38,560 --> 00:23:41,960
Speaker 3: so in Meilband Metros, who runs our train system, and

542
00:23:42,119 --> 00:23:44,359
Speaker 3: there was this misconception between all of you that you

543
00:23:44,480 --> 00:23:47,240
Speaker 3: were uninsurable and that's just not the case, Like we

544
00:23:47,359 --> 00:23:49,600
Speaker 3: can get insurance. It's just not through everyone. There are

545
00:23:49,680 --> 00:23:52,399
Speaker 3: a few insurers who are like, hell no, they're too risky.

546
00:23:52,760 --> 00:23:56,480
Speaker 3: But you also have like such good EAP and like

547
00:23:56,600 --> 00:23:59,560
Speaker 3: benefit programs through the company that you work with, because

548
00:23:59,560 --> 00:24:02,000
Speaker 3: they actually we know that you need to have specific

549
00:24:02,160 --> 00:24:05,159
Speaker 3: rail income protection and you know all of that. But

550
00:24:05,480 --> 00:24:07,520
Speaker 3: I would make that a priority because govern you've got

551
00:24:07,560 --> 00:24:10,480
Speaker 3: two mortgages, You've worked your butt off, and we're not

552
00:24:10,600 --> 00:24:13,640
Speaker 3: protecting this, Like what do you mean I'm not happy

553
00:24:13,680 --> 00:24:15,240
Speaker 3: for you to flush that down the toilet and I

554
00:24:15,280 --> 00:24:18,320
Speaker 3: don't think you are either. It's not like can't forward it.

555
00:24:18,640 --> 00:24:20,959
Speaker 3: I can see your income right here. So we are

556
00:24:20,960 --> 00:24:23,440
Speaker 3: going to get our insurances sorted, because that's the one

557
00:24:23,480 --> 00:24:25,240
Speaker 3: thing that I think people who have listened to the

558
00:24:25,280 --> 00:24:26,800
Speaker 3: show for a while, and you said you've been listening

559
00:24:26,880 --> 00:24:30,280
Speaker 3: since you're eighteen, you know how I feel about personal insurances.

560
00:24:30,840 --> 00:24:33,960
Speaker 3: We're in a deep relationship, and the reason is because

561
00:24:34,000 --> 00:24:36,639
Speaker 3: it puts you in the best possible position. So if

562
00:24:36,680 --> 00:24:38,280
Speaker 3: you don't want to go back and see that advisor,

563
00:24:38,359 --> 00:24:40,000
Speaker 3: I can obviously set you up with one, but I

564
00:24:40,119 --> 00:24:43,320
Speaker 3: definitely would be even if you don't want proper full

565
00:24:43,400 --> 00:24:48,000
Speaker 3: financial advice, go see an insurance financial advisor, like you know,

566
00:24:48,160 --> 00:24:49,720
Speaker 3: I talk about Phil on the show all the time,

567
00:24:50,040 --> 00:24:52,359
Speaker 3: Like Phil, So you can just set that up and

568
00:24:52,440 --> 00:24:55,240
Speaker 3: then you can do the finance fun cash slow budget

569
00:24:55,240 --> 00:24:57,960
Speaker 3: stuff later. But like, your income is your income and

570
00:24:58,040 --> 00:25:00,240
Speaker 3: we need to protect that. And I'm just you don't

571
00:25:00,240 --> 00:25:01,600
Speaker 3: get to be twenty four and have one hundred and

572
00:25:01,640 --> 00:25:03,560
Speaker 3: eighty thousand dollars coming in and we're not looking after that.

573
00:25:03,680 --> 00:25:05,359
Speaker 3: I want to shake you and hug you at the

574
00:25:05,400 --> 00:25:08,000
Speaker 3: same time because I'm proud, and also like, let's protect this.

575
00:25:08,560 --> 00:25:10,040
Speaker 2: Yeah, it's definitely on the list.

576
00:25:10,160 --> 00:25:11,000
Speaker 1: You can have a B for that.

577
00:25:11,160 --> 00:25:11,640
Speaker 2: That's fine.

578
00:25:11,880 --> 00:25:14,920
Speaker 3: I will agree with that. So tell me more about debt.

579
00:25:15,040 --> 00:25:17,960
Speaker 3: I want to know the nitty gritty. You've got one mortgage,

580
00:25:18,040 --> 00:25:20,680
Speaker 3: but you're about to have two full mortgages. Tell me

581
00:25:20,880 --> 00:25:24,200
Speaker 3: about how much did you purchase Let's pretend it's called

582
00:25:24,240 --> 00:25:26,760
Speaker 3: the first home because you haven't settled on the second

583
00:25:26,800 --> 00:25:28,760
Speaker 3: one yet, but house one that you bought with your friend.

584
00:25:28,800 --> 00:25:30,639
Speaker 3: How much did you buy it for? Five hundred and

585
00:25:30,680 --> 00:25:33,080
Speaker 3: twenty five twenty and how much is it worth today?

586
00:25:33,400 --> 00:25:36,320
Speaker 2: I haven't had it valued recently. It's about the same actually,

587
00:25:36,400 --> 00:25:38,879
Speaker 2: when we went to try and sell it between the

588
00:25:39,000 --> 00:25:41,560
Speaker 2: two of us that have gone down slightly just because

589
00:25:41,560 --> 00:25:43,639
Speaker 2: it is an apartment and they're a bit harder, So

590
00:25:44,560 --> 00:25:46,879
Speaker 2: I'd probably say it's worth about the same and I, oh,

591
00:25:48,080 --> 00:25:49,680
Speaker 2: last I checked four seventy on it.

592
00:25:50,240 --> 00:25:53,520
Speaker 3: Okay, that's pretty good. And have you been actively making

593
00:25:53,560 --> 00:25:56,480
Speaker 3: additional contributions to that or is that just ticking away?

594
00:25:57,119 --> 00:25:59,720
Speaker 2: It's just ticking away. I've just got pretty much all

595
00:26:00,080 --> 00:26:02,480
Speaker 2: my own funds in an offset at the moment, trying

596
00:26:02,520 --> 00:26:04,760
Speaker 2: to help a little bit. But I knew with the

597
00:26:04,840 --> 00:26:07,639
Speaker 2: second one coming up, I wanted access to everything, so

598
00:26:07,720 --> 00:26:09,560
Speaker 2: I just wasn't pro priority. Yeah.

599
00:26:09,640 --> 00:26:12,080
Speaker 3: Fair, So let's talk through the second one, which was

600
00:26:12,119 --> 00:26:14,600
Speaker 3: technically the first one, but it'll be the second one

601
00:26:14,720 --> 00:26:18,000
Speaker 3: to settle. When you purchased it off the plan, did

602
00:26:18,080 --> 00:26:21,200
Speaker 3: you purchase the land and now you're doing the build

603
00:26:21,359 --> 00:26:23,840
Speaker 3: or is it all one package or how did that work?

604
00:26:24,080 --> 00:26:27,000
Speaker 2: Yeah, so it's another apartment, so it's all all included.

605
00:26:27,680 --> 00:26:29,920
Speaker 2: I had a contract price of six to oh one

606
00:26:30,359 --> 00:26:33,160
Speaker 2: and I just actually got the values through last week.

607
00:26:33,400 --> 00:26:36,119
Speaker 2: We got multiple banks through. Two of them said it

608
00:26:36,200 --> 00:26:37,840
Speaker 2: was about the same sitting at that six o two,

609
00:26:37,920 --> 00:26:39,280
Speaker 2: and then one of them came back and said it

610
00:26:39,359 --> 00:26:40,040
Speaker 2: was six't eighty.

611
00:26:40,359 --> 00:26:42,159
Speaker 3: I will take that valuation. That would be nice. A

612
00:26:42,200 --> 00:26:44,760
Speaker 3: little bit of equity never goes fast exactly, So.

613
00:26:45,240 --> 00:26:46,800
Speaker 2: Just working through at the moment who we're going to

614
00:26:46,840 --> 00:26:48,920
Speaker 2: go with and what that looks like. If I can

615
00:26:49,119 --> 00:26:52,480
Speaker 2: get a lower rate because they think it's worth more, happy.

616
00:26:52,240 --> 00:26:54,240
Speaker 3: With that, get money, win, And I mean a little

617
00:26:54,240 --> 00:26:56,000
Speaker 3: bit of equity gives you a bit of wiggle room

618
00:26:56,080 --> 00:26:58,159
Speaker 3: we don't have to use it. Is it fair for

619
00:26:58,280 --> 00:27:00,760
Speaker 3: me to assume that you're working directly with a mortgage

620
00:27:00,800 --> 00:27:02,800
Speaker 3: broker on that, and they're kind of like the ones

621
00:27:02,840 --> 00:27:04,440
Speaker 3: that are getting the banks through and making sure that

622
00:27:04,480 --> 00:27:06,520
Speaker 3: we're getting a number of different valuations and getting the

623
00:27:06,560 --> 00:27:07,760
Speaker 3: best possible outcome for you.

624
00:27:07,960 --> 00:27:09,680
Speaker 2: Yes, yeah, I've got my broker dealing with all of

625
00:27:09,720 --> 00:27:10,720
Speaker 2: that because it's far too much for.

626
00:27:10,760 --> 00:27:13,320
Speaker 3: Me to hand a genius. Honestly, it's a lot. And

627
00:27:13,400 --> 00:27:15,359
Speaker 3: I feel like people don't realize. You go, oh, just

628
00:27:15,400 --> 00:27:17,240
Speaker 3: my house, that's fine, and then I'll go down to

629
00:27:17,280 --> 00:27:20,240
Speaker 3: the bank. But like you're even finding just before settlement

630
00:27:20,280 --> 00:27:23,440
Speaker 3: that like how important was it to get three different valuations?

631
00:27:23,480 --> 00:27:24,800
Speaker 3: You would have been like, oh, I didn't even think

632
00:27:24,840 --> 00:27:27,119
Speaker 3: of that. But now there's the potential we might not

633
00:27:27,240 --> 00:27:30,200
Speaker 3: take it, but there's the potential of having one of

634
00:27:30,240 --> 00:27:33,360
Speaker 3: the banks basically that you have eighty grand in equity

635
00:27:33,880 --> 00:27:36,880
Speaker 3: from the get go, yes, which we might not use,

636
00:27:37,000 --> 00:27:39,120
Speaker 3: but it's nice to have a wiggle room. And how

637
00:27:39,160 --> 00:27:41,840
Speaker 3: are you managing those repayments? Because that's like more than

638
00:27:41,840 --> 00:27:43,840
Speaker 3: a million dollars worth of debt that you're going to

639
00:27:43,920 --> 00:27:46,440
Speaker 3: be in at twenty four which is honestly not that

640
00:27:46,560 --> 00:27:48,760
Speaker 3: concerning when your income SIT's at about one hundred and

641
00:27:48,800 --> 00:27:52,200
Speaker 3: eighty grand, But like, what does that feel like? Because

642
00:27:52,240 --> 00:27:54,159
Speaker 3: it feels like your mortgage repayments are going to be

643
00:27:54,200 --> 00:27:56,159
Speaker 3: a lot, especially because it's like the first year of

644
00:27:56,200 --> 00:27:57,440
Speaker 3: having two full mortgages.

645
00:27:57,600 --> 00:28:00,520
Speaker 2: Right. Yeah, it's scary to say when like and I

646
00:28:00,600 --> 00:28:01,800
Speaker 2: have said, like, oh, by the end of the year,

647
00:28:01,800 --> 00:28:03,159
Speaker 2: I'll be in a million dollars at the debt and

648
00:28:03,240 --> 00:28:06,560
Speaker 2: that terrifying, But when I actually sit down and look

649
00:28:06,560 --> 00:28:07,960
Speaker 2: at the math, it's all right.

650
00:28:08,240 --> 00:28:08,480
Speaker 3: In it.

651
00:28:08,800 --> 00:28:12,560
Speaker 2: For the first property, I have spoken to a property

652
00:28:12,600 --> 00:28:15,240
Speaker 2: manager and checked what the rental yield will be and

653
00:28:15,400 --> 00:28:19,800
Speaker 2: it will be slightly negatively good. But I also currently

654
00:28:19,920 --> 00:28:21,920
Speaker 2: have and will have in the new property as well.

655
00:28:22,000 --> 00:28:23,000
Speaker 2: My sister living with me.

656
00:28:23,280 --> 00:28:24,040
Speaker 3: Oh, very cool.

657
00:28:24,080 --> 00:28:26,480
Speaker 2: And so she's helping me out a little bit and

658
00:28:26,720 --> 00:28:28,720
Speaker 2: like paying her rent or board or how if you

659
00:28:28,760 --> 00:28:30,400
Speaker 2: want to look at it. And I've worked it out

660
00:28:30,520 --> 00:28:34,400
Speaker 2: that the shortfall that I'll have is pretty much perfectly

661
00:28:34,480 --> 00:28:37,440
Speaker 2: covered by her rent. So in my brain, she's paying

662
00:28:37,520 --> 00:28:39,760
Speaker 2: that and I'm just fully paying the second one by myself.

663
00:28:39,760 --> 00:28:42,040
Speaker 3: Okay, cool. I love that. I feel like that makes

664
00:28:42,080 --> 00:28:43,520
Speaker 3: a lot of sense and it's nice to be able

665
00:28:43,560 --> 00:28:45,840
Speaker 3: to justify in that way too. It sounds like you're

666
00:28:45,960 --> 00:28:48,680
Speaker 3: pretty on top of your numbers. How are you doing?

667
00:28:49,000 --> 00:28:50,840
Speaker 3: Do you have a budget spreadsheet? You're writing this on

668
00:28:50,880 --> 00:28:52,600
Speaker 3: the back of an envelope, but are you just making

669
00:28:52,640 --> 00:28:54,360
Speaker 3: it up in your brain? How do you do all

670
00:28:54,400 --> 00:28:55,200
Speaker 3: of your cash flow?

671
00:28:55,480 --> 00:29:00,520
Speaker 2: I do have a Excel document that I'm constantly updating

672
00:29:00,560 --> 00:29:03,520
Speaker 2: because Sexy we are paid hourly, so pretty much every

673
00:29:03,560 --> 00:29:06,640
Speaker 2: fortnight my pay can change slightly, so I'm always double

674
00:29:06,720 --> 00:29:09,880
Speaker 2: checking if i have extra money, making sure it's allocated

675
00:29:09,920 --> 00:29:16,120
Speaker 2: and not just hanging out. Yeah, So I'm constantly checking,

676
00:29:16,240 --> 00:29:20,360
Speaker 2: and if my energy bill comes in more or less

677
00:29:20,400 --> 00:29:22,720
Speaker 2: than I expected, I make sure to update that because

678
00:29:22,720 --> 00:29:25,719
Speaker 2: it's all averages at the moment, and I do all

679
00:29:25,760 --> 00:29:29,160
Speaker 2: my transfers manually just because it makes my brain feel

680
00:29:29,200 --> 00:29:33,120
Speaker 2: like I've done more, but very religiously, like to the day,

681
00:29:33,280 --> 00:29:34,760
Speaker 2: I'm checking it every fortnight.

682
00:29:34,960 --> 00:29:37,720
Speaker 3: I am obsessed. Can I be really pervy about personal life?

683
00:29:38,280 --> 00:29:40,600
Speaker 3: Do you have a partner? Are you seeing anyone? What

684
00:29:40,720 --> 00:29:42,320
Speaker 3: does that look like? Sorry, you're going to be in

685
00:29:42,360 --> 00:29:44,360
Speaker 3: a million dollars worth of debt, which is sexy, but

686
00:29:44,400 --> 00:29:46,560
Speaker 3: you also got assets and you've got a nice amount

687
00:29:46,600 --> 00:29:49,640
Speaker 3: of super Yeah doing so.

688
00:29:49,880 --> 00:29:53,800
Speaker 2: I am seeing someone. At the moment, everything is completely separate.

689
00:29:54,040 --> 00:29:58,520
Speaker 2: He also has his own asset. Good girl in that regard.

690
00:29:58,600 --> 00:30:00,800
Speaker 3: With fairly equal, you're going to be like a rich

691
00:30:00,880 --> 00:30:02,760
Speaker 3: power couple both retiring at fifty.

692
00:30:02,920 --> 00:30:05,840
Speaker 2: Yeah. Yeah, the goal is dinks for life. Yeah.

693
00:30:05,960 --> 00:30:06,160
Speaker 3: Love.

694
00:30:06,320 --> 00:30:08,840
Speaker 2: Yeah. At this stage, everything's really separate. We kind of

695
00:30:08,920 --> 00:30:11,719
Speaker 2: have heard early conversations about if we were to combine,

696
00:30:11,760 --> 00:30:13,719
Speaker 2: what would that look like? But it's very much agreed

697
00:30:13,760 --> 00:30:16,880
Speaker 2: that what we've come into this with is separate, and

698
00:30:17,000 --> 00:30:19,760
Speaker 2: then anything we build together is fairly equal.

699
00:30:19,920 --> 00:30:21,880
Speaker 3: And do you live together yet or is that part

700
00:30:21,920 --> 00:30:22,360
Speaker 3: of the plan?

701
00:30:22,520 --> 00:30:22,720
Speaker 2: Nine?

702
00:30:22,800 --> 00:30:24,840
Speaker 3: Not yet? Will that be something that you consider?

703
00:30:24,920 --> 00:30:25,560
Speaker 2: Are you like, no?

704
00:30:25,920 --> 00:30:26,880
Speaker 3: Sorry, stay out?

705
00:30:27,160 --> 00:30:29,600
Speaker 2: Yeah, we kind of have had the conversation, and at

706
00:30:29,640 --> 00:30:32,000
Speaker 2: this stage the plan would be that I would move

707
00:30:32,080 --> 00:30:34,960
Speaker 2: in with him because he has a dog and he's

708
00:30:35,040 --> 00:30:36,400
Speaker 2: not an apartment suitable dog.

709
00:30:36,520 --> 00:30:38,360
Speaker 3: So he's a guy with assets and a dog. You

710
00:30:38,480 --> 00:30:39,600
Speaker 3: are selling the dream.

711
00:30:40,120 --> 00:30:42,760
Speaker 2: Yeah, it'll be a dog and four cats.

712
00:30:43,640 --> 00:30:45,280
Speaker 3: Oh my god, is do you have the cats? Or

713
00:30:45,280 --> 00:30:46,800
Speaker 3: does he have the cats? I have two and he

714
00:30:46,920 --> 00:30:49,280
Speaker 3: has two. Oh this is my dream man. So sorry,

715
00:30:49,360 --> 00:30:51,760
Speaker 3: there's a dude out there who was single and had

716
00:30:51,760 --> 00:30:54,320
Speaker 3: a dog and two cats. I love him already for you.

717
00:30:54,600 --> 00:30:56,880
Speaker 2: One of the cats actually just showed up at his

718
00:30:56,960 --> 00:30:58,840
Speaker 2: house last week and he's like checked with all the

719
00:30:58,880 --> 00:31:00,640
Speaker 2: neighbors and he's getting it better checked and he's like,

720
00:31:00,680 --> 00:31:02,720
Speaker 2: if nobody claims that, I'm keeping it. And the first

721
00:31:02,800 --> 00:31:03,600
Speaker 2: cat did the same thing.

722
00:31:03,760 --> 00:31:06,400
Speaker 3: Sorry, So he's like the snow white of the suburbs

723
00:31:07,080 --> 00:31:07,600
Speaker 3: and cats.

724
00:31:08,240 --> 00:31:10,000
Speaker 2: Both of his cats showed up one day.

725
00:31:10,320 --> 00:31:13,320
Speaker 3: It's just no good people, don't they They just turn

726
00:31:13,440 --> 00:31:15,240
Speaker 3: up and they're like, you is good people? Can I

727
00:31:15,360 --> 00:31:17,400
Speaker 3: live here? That will be nice? Y? We can be

728
00:31:17,560 --> 00:31:21,400
Speaker 3: good people together. Oh my god, I'm obsessed. All right,

729
00:31:21,920 --> 00:31:24,000
Speaker 3: moving on from talking about your personal life, Thank you

730
00:31:24,080 --> 00:31:26,360
Speaker 3: for giving me that grace. I want to know about

731
00:31:26,400 --> 00:31:28,600
Speaker 3: any further debt. We know about the mortgages. That's fine,

732
00:31:28,640 --> 00:31:30,800
Speaker 3: that's good debt. You mentioned that you've had a car

733
00:31:30,920 --> 00:31:34,560
Speaker 3: loan before. Do you have any other personal loans, personal debts,

734
00:31:34,640 --> 00:31:35,520
Speaker 3: debts of any kind.

735
00:31:35,800 --> 00:31:37,800
Speaker 2: My car that I have now is currently on a

736
00:31:37,880 --> 00:31:41,200
Speaker 2: nervated lease, but no no credit cards or anything like that.

737
00:31:41,320 --> 00:31:43,520
Speaker 2: That all lot. I did have a credit card and

738
00:31:44,400 --> 00:31:46,760
Speaker 2: I paid it out when I went to buy it out,

739
00:31:46,800 --> 00:31:47,640
Speaker 2: and I just never reopened.

740
00:31:47,680 --> 00:31:49,440
Speaker 3: It's awesome, love to hear it. Tell me a little

741
00:31:49,440 --> 00:31:51,320
Speaker 3: bit more about the norvated lease, because I get asked

742
00:31:51,360 --> 00:31:54,360
Speaker 3: about nevated leas's all the time. Why did it work

743
00:31:54,440 --> 00:31:56,360
Speaker 3: for you? As someone who I know has a crazy

744
00:31:56,400 --> 00:31:58,040
Speaker 3: spreadsheet and would have made a good decision.

745
00:31:58,200 --> 00:32:00,360
Speaker 2: It worked for me for a number of reasons. I

746
00:32:00,480 --> 00:32:02,360
Speaker 2: have a fully electric vehicle, and I was able to

747
00:32:02,400 --> 00:32:05,560
Speaker 2: take advantage of my entire innovated least payment is pre

748
00:32:05,720 --> 00:32:09,160
Speaker 2: tax rather than normally it's half pre half post. And

749
00:32:09,280 --> 00:32:11,560
Speaker 2: also just because I work so much overtime and so

750
00:32:11,640 --> 00:32:13,840
Speaker 2: many penalties, I'm kind of I can fall right on

751
00:32:13,920 --> 00:32:15,600
Speaker 2: the cast for a tax bracket, and so I was like,

752
00:32:15,640 --> 00:32:19,720
Speaker 2: if anything to kind of keep that lower, I like

753
00:32:19,960 --> 00:32:23,440
Speaker 2: knowing that what comes into my account, I don't have

754
00:32:23,520 --> 00:32:25,920
Speaker 2: to think about car expenses like they're all covered. But

755
00:32:26,080 --> 00:32:29,280
Speaker 2: also because of my age, my insurance premiums can be

756
00:32:29,360 --> 00:32:32,360
Speaker 2: quite high, and because it's basically company insurance, it works

757
00:32:32,360 --> 00:32:34,040
Speaker 2: out a lot cheaper than if I had to go

758
00:32:34,160 --> 00:32:34,600
Speaker 2: get my own.

759
00:32:34,680 --> 00:32:37,360
Speaker 3: That's so interesting. I am so glad, I asked. And

760
00:32:37,720 --> 00:32:40,320
Speaker 3: at the end of your novated least plan, what's the plan?

761
00:32:40,600 --> 00:32:42,800
Speaker 3: Are you paying for the car out right? Are you

762
00:32:42,840 --> 00:32:43,560
Speaker 3: getting a new car?

763
00:32:43,800 --> 00:32:43,840
Speaker 2: Like?

764
00:32:43,960 --> 00:32:45,080
Speaker 3: What would be the plan there?

765
00:32:45,360 --> 00:32:47,840
Speaker 2: I'm not one hundred percent sure at this stage. If

766
00:32:48,360 --> 00:32:52,239
Speaker 2: because it is electric, if the charging facilities, and if

767
00:32:52,280 --> 00:32:54,600
Speaker 2: I can install a charge at home, because currently I can't,

768
00:32:54,640 --> 00:32:57,360
Speaker 2: so I am relying on public charging and the charge

769
00:32:57,360 --> 00:32:59,840
Speaker 2: I have it Moms, Thanks Mom. But yeah, if my

770
00:33:00,000 --> 00:33:02,920
Speaker 2: my access to charging is a lot more readily available,

771
00:33:02,960 --> 00:33:05,040
Speaker 2: I'd potentially look at buying it out and keeping it.

772
00:33:05,400 --> 00:33:08,280
Speaker 2: If it's still not where I want it to be

773
00:33:08,440 --> 00:33:11,240
Speaker 2: infrastructural wise, I would give it back and look at

774
00:33:11,320 --> 00:33:13,600
Speaker 2: getting a second hand, probably a hybrid, because by that

775
00:33:13,680 --> 00:33:16,360
Speaker 2: stage my insurance should be more reasonable.

776
00:33:16,080 --> 00:33:17,720
Speaker 3: You know, because you'll be over the age of twenty five,

777
00:33:17,800 --> 00:33:20,080
Speaker 3: which is nice. I think that what you're doing is

778
00:33:20,160 --> 00:33:22,560
Speaker 3: so genuinely impressive, even the fact that I was like,

779
00:33:22,840 --> 00:33:24,560
Speaker 3: tell me about your nervated lease and you're like, well,

780
00:33:24,560 --> 00:33:26,440
Speaker 3: I'm on the tax cusp and I'm doing this, and

781
00:33:26,520 --> 00:33:28,880
Speaker 3: I'm doing that, and also I have a fully electric

782
00:33:29,000 --> 00:33:30,840
Speaker 3: vehicle and I can claim one hundred percent, Like, who

783
00:33:31,000 --> 00:33:34,520
Speaker 3: are you? This is literally so sexy. I love it.

784
00:33:35,480 --> 00:33:37,320
Speaker 3: What do you think your best money habit is?

785
00:33:37,520 --> 00:33:40,200
Speaker 2: Best would probably be I'm pretty good at like once

786
00:33:40,440 --> 00:33:43,080
Speaker 2: money is allocated. So say, if I run out of

787
00:33:43,120 --> 00:33:45,400
Speaker 2: all my fun money, if there's something that I want,

788
00:33:45,840 --> 00:33:47,440
Speaker 2: I'm like, well it can wait. Like I'm not going

789
00:33:47,480 --> 00:33:50,120
Speaker 2: to go dipping into other buckets or I don't have

790
00:33:50,160 --> 00:33:51,880
Speaker 2: a credit card, or but like I wouldn't put it

791
00:33:51,960 --> 00:33:54,240
Speaker 2: on any line of finance. I'm like, if I want it,

792
00:33:54,720 --> 00:33:56,280
Speaker 2: I'm still going to want it my next payday, and

793
00:33:56,360 --> 00:33:57,640
Speaker 2: if I don't, then I didn't need it in the

794
00:33:57,680 --> 00:33:58,160
Speaker 2: first place.

795
00:33:58,240 --> 00:34:01,040
Speaker 3: Okay, love that take and feel like that's actually harder

796
00:34:01,120 --> 00:34:04,520
Speaker 3: to grasp than most people comprehend. Do you even have

797
00:34:04,680 --> 00:34:06,080
Speaker 3: bad money habits at this point?

798
00:34:06,320 --> 00:34:08,800
Speaker 2: Yeah? This on this on, this one hurt, This one hurts.

799
00:34:09,000 --> 00:34:12,960
Speaker 2: I'm sorry in advance, because I have such a good

800
00:34:13,080 --> 00:34:16,000
Speaker 2: understanding of I guess, like my general position, and I

801
00:34:16,120 --> 00:34:18,360
Speaker 2: know that, like if I were to get something, I

802
00:34:18,440 --> 00:34:22,320
Speaker 2: know roughly what I can afford without speaking to brokers

803
00:34:22,400 --> 00:34:24,960
Speaker 2: or finance or whoever. So I'll kind of have half

804
00:34:25,000 --> 00:34:28,239
Speaker 2: a thought of like that I want something, and I

805
00:34:28,560 --> 00:34:33,080
Speaker 2: tend to make quite large financial decisions without doing as

806
00:34:33,160 --> 00:34:34,960
Speaker 2: much research as I should, so I'll kind of like

807
00:34:35,080 --> 00:34:38,120
Speaker 2: start looking into it and then if the opportunity presents itself,

808
00:34:38,520 --> 00:34:40,279
Speaker 2: I just that's kind of how I ended up in

809
00:34:40,360 --> 00:34:41,920
Speaker 2: my car. I'm wonna be honest, what kind of car

810
00:34:42,000 --> 00:34:43,680
Speaker 2: did you pick? I have a Tesla?

811
00:34:43,800 --> 00:34:45,440
Speaker 3: Of course she does. She's a hot girl driving a

812
00:34:45,480 --> 00:34:47,560
Speaker 3: Tesla at twenty four and one hundred and eighty grand,

813
00:34:47,760 --> 00:34:50,520
Speaker 3: like beef, So for real, these people are legit really

814
00:34:50,640 --> 00:34:53,719
Speaker 3: my community, Like I actually can't believe it, Like.

815
00:34:53,760 --> 00:34:54,440
Speaker 2: Are you joking?

816
00:34:54,680 --> 00:34:56,640
Speaker 3: Like you're just a baller driving around in a hot

817
00:34:56,719 --> 00:34:59,480
Speaker 3: girl Tesla? Stop it? And then you're like, that was

818
00:34:59,480 --> 00:35:01,600
Speaker 3: a bad money decision, but you already told me about

819
00:35:01,640 --> 00:35:03,799
Speaker 3: your novated lyase situation, so that wasn't that bad.

820
00:35:03,920 --> 00:35:07,000
Speaker 2: I've been very fortunate that all these spontaneous decisions that

821
00:35:07,040 --> 00:35:09,000
Speaker 2: I've made have worked out for me so far. I

822
00:35:09,040 --> 00:35:10,600
Speaker 2: think one day it's going to catch up with me.

823
00:35:10,760 --> 00:35:13,200
Speaker 2: But I've been thinking about getting a new car, and

824
00:35:13,600 --> 00:35:16,719
Speaker 2: I wasn't sure what I wanted. I was originally looking

825
00:35:16,840 --> 00:35:20,279
Speaker 2: just for hybrids. And then I saw an email through

826
00:35:20,320 --> 00:35:22,680
Speaker 2: the Novada lease company that Metro worked with, and they

827
00:35:22,719 --> 00:35:25,120
Speaker 2: were talking about electric vehicles and like, I think I

828
00:35:25,200 --> 00:35:26,960
Speaker 2: got like three grand cash back on it and all

829
00:35:27,000 --> 00:35:29,200
Speaker 2: these other things if you order it by a certain day.

830
00:35:29,320 --> 00:35:31,040
Speaker 2: And then I was talking to my mum. I remember

831
00:35:31,080 --> 00:35:32,440
Speaker 2: it being a Sunday and I was talking to mum

832
00:35:32,480 --> 00:35:33,799
Speaker 2: about it and she's like, why don't we go car

833
00:35:33,880 --> 00:35:35,239
Speaker 2: shopping and I was like, it's a Sunday, all the

834
00:35:35,320 --> 00:35:38,160
Speaker 2: dealerships are closed and we're like, Tesla's not and I

835
00:35:38,239 --> 00:35:39,799
Speaker 2: knew a couple of people with them, and I was like, well,

836
00:35:39,800 --> 00:35:41,719
Speaker 2: I've never driven one, Like we'll we'll just go test

837
00:35:41,760 --> 00:35:44,240
Speaker 2: drive it. We'll see. And she was so like anti

838
00:35:44,520 --> 00:35:47,120
Speaker 2: electric vehicle, just because it's new technology and she wasn't

839
00:35:47,120 --> 00:35:48,600
Speaker 2: sure about it. And we took it for a test

840
00:35:48,680 --> 00:35:50,440
Speaker 2: drive and we've come back and even she was like

841
00:35:50,560 --> 00:35:51,360
Speaker 2: I absolutely love it.

842
00:35:51,520 --> 00:35:53,800
Speaker 3: Oh no, Mom's not helping. No.

843
00:35:54,040 --> 00:35:55,799
Speaker 2: And I ordered it that day and then was like, well,

844
00:35:55,800 --> 00:35:57,520
Speaker 2: I'll just figure it out later. I'll do the math

845
00:35:57,640 --> 00:35:59,640
Speaker 2: before it arrives, and it'll be fine.

846
00:36:00,080 --> 00:36:00,600
Speaker 3: You do the mask.

847
00:36:00,680 --> 00:36:01,439
Speaker 2: I did do the mass.

848
00:36:01,440 --> 00:36:03,400
Speaker 3: I'm going to be really pervy and this is just

849
00:36:03,480 --> 00:36:05,279
Speaker 3: for my own personal gain, not even to share with

850
00:36:05,320 --> 00:36:08,440
Speaker 3: the community. You said that you're doing your nearest bicy test.

851
00:36:08,520 --> 00:36:10,600
Speaker 3: You message me when you have a response, because I

852
00:36:10,640 --> 00:36:12,279
Speaker 3: think I know what it's gone by because you sound

853
00:36:12,320 --> 00:36:15,040
Speaker 3: a lot like me, and that's not a bad thing.

854
00:36:15,480 --> 00:36:18,359
Speaker 3: But like, everything's worked out thus far. Can't be that hard,

855
00:36:18,680 --> 00:36:20,680
Speaker 3: as you said before, men do it.

856
00:36:21,120 --> 00:36:24,520
Speaker 2: Yeah, And I mean even with like purchasing the properties

857
00:36:24,640 --> 00:36:26,799
Speaker 2: was kind of I had a rough idea. I knew

858
00:36:26,840 --> 00:36:29,320
Speaker 2: what I could afford, and if i'd thought about it

859
00:36:29,440 --> 00:36:31,640
Speaker 2: or did a little bit more research, I may not

860
00:36:31,719 --> 00:36:33,719
Speaker 2: have made the same decisions. But it's worked out so fast,

861
00:36:33,719 --> 00:36:34,080
Speaker 2: so we'll just.

862
00:36:34,080 --> 00:36:36,400
Speaker 3: Running with it so fast, so good. I love that

863
00:36:36,640 --> 00:36:40,359
Speaker 3: for you. Now, if hypothetically I played this money diary

864
00:36:40,440 --> 00:36:43,440
Speaker 3: back to you and we went through this money dary

865
00:36:43,480 --> 00:36:45,600
Speaker 3: and it's not you, someone else, and I said, look,

866
00:36:45,719 --> 00:36:48,320
Speaker 3: she's this twenty four year old or she's twenty four tomorrow.

867
00:36:48,480 --> 00:36:50,759
Speaker 3: She lives in Melbourne's train driver made one hundred and

868
00:36:50,800 --> 00:36:53,920
Speaker 3: eighty grand last year. She owns two properties. Like, you know,

869
00:36:54,040 --> 00:36:57,080
Speaker 3: it's quite savvy with her money, good at saving, really

870
00:36:57,120 --> 00:37:01,480
Speaker 3: good at Excel spreadsheets. Actually, you had this situation with

871
00:37:01,600 --> 00:37:03,640
Speaker 3: a friend she bought and she was able to buy

872
00:37:03,800 --> 00:37:06,200
Speaker 3: her friend out of this property and she got to

873
00:37:06,280 --> 00:37:10,840
Speaker 3: keep it herself. And whilst it's not increased significantly in value, like,

874
00:37:11,320 --> 00:37:13,800
Speaker 3: it's still ticking along and has pretty good rental yields.

875
00:37:13,840 --> 00:37:16,280
Speaker 3: So she's not madged about to settle on her second apartment.

876
00:37:16,360 --> 00:37:20,520
Speaker 3: That's pretty sligh. She drives a Tesla, ridiculously good looking.

877
00:37:20,960 --> 00:37:24,799
Speaker 3: What would you think that that money diary would grade themselves?

878
00:37:25,160 --> 00:37:27,800
Speaker 3: Would you go, Oh, she's probably be that's not that impressive.

879
00:37:27,920 --> 00:37:30,439
Speaker 2: I mean that does sound pretty good. It's good.

880
00:37:31,040 --> 00:37:34,279
Speaker 3: So tell me if you're going to grade yourself a bee, What.

881
00:37:34,400 --> 00:37:36,520
Speaker 2: The hell is an A? Yeah? I think it's more

882
00:37:36,880 --> 00:37:39,600
Speaker 2: I know what I need to put in place that

883
00:37:39,680 --> 00:37:40,320
Speaker 2: I haven't.

884
00:37:40,160 --> 00:37:41,880
Speaker 3: Personal insurance, That's what it is.

885
00:37:41,960 --> 00:37:44,239
Speaker 2: And so like if I didn't know that, if I

886
00:37:44,400 --> 00:37:46,279
Speaker 2: didn't know I needed insurance and I didn't know I

887
00:37:46,400 --> 00:37:48,120
Speaker 2: need to kind of have that plane in place, I'd

888
00:37:48,120 --> 00:37:51,759
Speaker 2: be like, yeah, cool sounds sounds really good. She's doing amazing. Yeah.

889
00:37:51,760 --> 00:37:53,359
Speaker 2: I think it's just a little bit of self doubt

890
00:37:53,480 --> 00:37:55,480
Speaker 2: when I know I should do something and I haven't.

891
00:37:55,600 --> 00:37:58,759
Speaker 3: It's probably where I'm coming. Yeah, okay, all right, I'll

892
00:37:58,800 --> 00:38:00,799
Speaker 3: let you have that. But O, if you just had

893
00:38:00,840 --> 00:38:03,719
Speaker 3: an appointment at sky Wealth, you'd bna like that. That's

894
00:38:03,760 --> 00:38:04,839
Speaker 3: a pretty easy fix.

895
00:38:05,160 --> 00:38:06,759
Speaker 2: Yeah, I think that would push it over there.

896
00:38:06,920 --> 00:38:08,600
Speaker 3: Yeah right, all right, I think between you and I

897
00:38:08,760 --> 00:38:09,800
Speaker 3: we could make that happen.

898
00:38:09,960 --> 00:38:10,440
Speaker 2: You reckon.

899
00:38:10,760 --> 00:38:13,400
Speaker 3: Yeah, Oh my goodness. It has been an absolute pleasure

900
00:38:13,480 --> 00:38:15,319
Speaker 3: getting to know you. I feel like you're a little

901
00:38:15,360 --> 00:38:17,759
Speaker 3: bit nervous at the start, and now we're French, so

902
00:38:17,880 --> 00:38:20,200
Speaker 3: now you're like, no, no, this is a fun experience.

903
00:38:20,239 --> 00:38:21,880
Speaker 3: So I'm glad that we fell into it because this

904
00:38:21,960 --> 00:38:24,880
Speaker 3: has been literally so fun getting to know about you,

905
00:38:25,280 --> 00:38:28,560
Speaker 3: your jobs, how you've been creating wealth all before twenty five, Like,

906
00:38:28,640 --> 00:38:30,840
Speaker 3: you haven't even hit a quarter of a century, and

907
00:38:30,960 --> 00:38:33,560
Speaker 3: you're going to have one hundred grand in super you

908
00:38:33,640 --> 00:38:36,960
Speaker 3: are going to be really financially secure somehow, You've met

909
00:38:37,000 --> 00:38:39,480
Speaker 3: a man who has two cats and a dog, like

910
00:38:39,800 --> 00:38:43,720
Speaker 3: money win, life win. I'm just I'm really excited about

911
00:38:43,800 --> 00:38:45,719
Speaker 3: your journey and where you're going. And I just know

912
00:38:45,880 --> 00:38:48,040
Speaker 3: that our community would have loved listening to this, So

913
00:38:48,200 --> 00:38:50,640
Speaker 3: thank you for sharing, thank you for having me appreciate it,

914
00:38:50,760 --> 00:38:53,040
Speaker 3: and also a very huge thank you to sky Wealth

915
00:38:53,120 --> 00:38:55,600
Speaker 3: for making this episode possible. I'll chuck a whole heap

916
00:38:55,680 --> 00:38:58,080
Speaker 3: of information about them, how to get in contact, what

917
00:38:58,200 --> 00:38:59,799
Speaker 3: they do, how they do it in the show notes

918
00:38:59,840 --> 00:39:08,239
Speaker 3: for you to check out. The buy shared on She's on.

919
00:39:08,239 --> 00:39:10,920
Speaker 4: The Money is general in nature and does not consider

920
00:39:10,960 --> 00:39:14,840
Speaker 4: your individual circumstances. She's on the Money exists purely for

921
00:39:15,040 --> 00:39:17,920
Speaker 4: educational purposes and should not be relied upon to make

922
00:39:17,920 --> 00:39:21,160
Speaker 4: an investment or financial decision. If you do choose to

923
00:39:21,200 --> 00:39:24,480
Speaker 4: buy a financial product, read the PDS TMD and obtain

924
00:39:24,520 --> 00:39:28,880
Speaker 4: appropriate financial advice tailored towards your needs. Victoria Divine and

925
00:39:29,120 --> 00:39:32,560
Speaker 4: She's on the Money are authorized representatives of Money. Sheper

926
00:39:32,640 --> 00:39:36,759
Speaker 4: Pty Ltd ABN three two one six four nine two

927
00:39:36,920 --> 00:39:40,759
Speaker 4: seven seven zero eight AFSL four five one two eight

928
00:39:40,880 --> 00:39:41,120
Speaker 4: nine