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 --> 00:00:11,159 Speaker 1: Ganya nianar Kaka yah y and beIN Ahaka nian Our 4 00:00:11,240 --> 00:00:15,440 Speaker 1: gay In Mbina, yakarum Jar, Dominyama, Domaga Ithawaka, Waman dam 5 00:00:15,480 --> 00:00:18,640 Speaker 1: and Imlan Bomber bang Gadabomba in and now in wakah 6 00:00:19,200 --> 00:00:23,320 Speaker 1: Ghana on yak rum jar Watnada. Now Hello, beautiful friends, 7 00:00:23,880 --> 00:00:26,439 Speaker 1: we gather on the lands of the Aboriginal people. We 8 00:00:26,520 --> 00:00:29,280 Speaker 1: thank acknowledge and respect the Abiginal people's land that we're 9 00:00:29,280 --> 00:00:32,199 Speaker 1: gathering on today. Take pleasure in all the land and 10 00:00:32,280 --> 00:00:35,880 Speaker 1: respect all that you see. She's on the Money podcast 11 00:00:36,000 --> 00:00:42,040 Speaker 1: acknowledges culture, country, community and connections, bringing you the tools, 12 00:00:42,400 --> 00:00:44,600 Speaker 1: knowledge and resources for you to thrive. 13 00:00:44,880 --> 00:00:46,600 Speaker 2: She's on the Money. 14 00:00:46,800 --> 00:00:58,000 Speaker 3: She's on the Money. 15 00:01:07,720 --> 00:01:10,800 Speaker 2: Hello, and welcome to She's on the Money, the podcast 16 00:01:10,800 --> 00:01:14,199 Speaker 2: that lets you be pervy about other people's money habits. 17 00:01:13,800 --> 00:01:15,520 Speaker 4: For educational purposes, of course. 18 00:01:15,880 --> 00:01:18,080 Speaker 2: Welcome back to another one of our money daries, where 19 00:01:18,080 --> 00:01:20,600 Speaker 2: I get the absolute pleasure of sitting down and talking 20 00:01:20,600 --> 00:01:23,360 Speaker 2: with one of our incredible She's on the Money community 21 00:01:23,360 --> 00:01:26,480 Speaker 2: members all about their journey. Let's jump straight into it, 22 00:01:26,520 --> 00:01:28,920 Speaker 2: because this week I got a message and it sounded 23 00:01:29,400 --> 00:01:32,559 Speaker 2: just like this, dear, she's on the money. I feel 24 00:01:32,640 --> 00:01:36,640 Speaker 2: like I'm doing everything right and still going backwards. My 25 00:01:36,760 --> 00:01:39,680 Speaker 2: partner and I both earn really good money, around one 26 00:01:39,760 --> 00:01:42,760 Speaker 2: hundred grand each. We bought a home well under what 27 00:01:42,840 --> 00:01:45,479 Speaker 2: the bank said we could borrow, and we've cut every 28 00:01:45,520 --> 00:01:48,880 Speaker 2: non essential from our budget. We've got two kids under two, 29 00:01:49,040 --> 00:01:50,920 Speaker 2: and I even went back to work early to help 30 00:01:50,960 --> 00:01:53,960 Speaker 2: make ends meet. We're trying to do all of the 31 00:01:54,040 --> 00:01:57,760 Speaker 2: right things, but we don't feel like we're getting ahead money. Diarist, 32 00:01:58,320 --> 00:02:00,840 Speaker 2: Welcome to the show. I feel like this is going 33 00:02:00,880 --> 00:02:04,280 Speaker 2: to be so relatable for so many people in our community. 34 00:02:04,520 --> 00:02:05,200 Speaker 5: Hi, welcome. 35 00:02:05,400 --> 00:02:08,720 Speaker 2: I am genuinely very excited about this, because you know, 36 00:02:08,840 --> 00:02:11,040 Speaker 2: so often we get money Diress, and like, you know, 37 00:02:11,200 --> 00:02:14,080 Speaker 2: I'm from overseas and I earn a million dollars or 38 00:02:14,240 --> 00:02:16,359 Speaker 2: you know, I've found my way into tech and I, 39 00:02:16,480 --> 00:02:18,440 Speaker 2: you know, earn all of this big amount of money, 40 00:02:18,560 --> 00:02:21,880 Speaker 2: and like that's cool. I love learning from people. But 41 00:02:22,000 --> 00:02:24,800 Speaker 2: like what we haven't heard on the show recently is 42 00:02:24,840 --> 00:02:28,360 Speaker 2: like I feel like I'm doing absolutely everything right and 43 00:02:28,400 --> 00:02:31,480 Speaker 2: I'm not getting ahead and let you clearly earn good money. 44 00:02:31,680 --> 00:02:34,000 Speaker 2: So let's get into it. I want to know first, 45 00:02:34,000 --> 00:02:36,040 Speaker 2: cab off the rank. If I asked you to give 46 00:02:36,120 --> 00:02:38,320 Speaker 2: your money habits a grade from A through to F, 47 00:02:38,400 --> 00:02:39,480 Speaker 2: what would that grade be? 48 00:02:39,680 --> 00:02:41,960 Speaker 5: I'd say, even though we feel like we're going backwards 49 00:02:41,960 --> 00:02:45,120 Speaker 5: at the moment, I think how money habits are still okay, 50 00:02:45,320 --> 00:02:47,639 Speaker 5: So I'd give myself a B plus. 51 00:02:47,760 --> 00:02:50,639 Speaker 2: I feel like that's a pretty good place to start. Now, 52 00:02:50,720 --> 00:02:53,160 Speaker 2: let's talk a little bit more about it. I want 53 00:02:53,160 --> 00:02:55,280 Speaker 2: to dive in. Can you tell me a little bit 54 00:02:55,320 --> 00:02:56,760 Speaker 2: more about your money story? 55 00:02:56,960 --> 00:02:59,840 Speaker 5: Yeah, So with money, I think it's one of the 56 00:02:59,840 --> 00:03:01,920 Speaker 5: things that I grew up, And I grew up in 57 00:03:01,919 --> 00:03:04,399 Speaker 5: a family that always had like just enough to get by, 58 00:03:04,560 --> 00:03:07,560 Speaker 5: Like we weren't necessarily missing out on things, but we 59 00:03:07,639 --> 00:03:11,040 Speaker 5: also weren't living lavishly or anything. And I think that's 60 00:03:11,080 --> 00:03:13,920 Speaker 5: sort of growing up. I was good at saving and 61 00:03:13,960 --> 00:03:16,880 Speaker 5: frugal and things that didn't matter, but I was also 62 00:03:17,120 --> 00:03:20,720 Speaker 5: willing to spend money on the important things. Though. Also, 63 00:03:21,440 --> 00:03:25,000 Speaker 5: I feel that because I did sometimes miss out on 64 00:03:25,040 --> 00:03:27,600 Speaker 5: a few things growing up, I may spend a bit 65 00:03:27,639 --> 00:03:30,239 Speaker 5: more than I should on opportunities and experiences. 66 00:03:30,360 --> 00:03:32,280 Speaker 2: Now that I'm an adult, I mean, that's not the 67 00:03:32,320 --> 00:03:35,520 Speaker 2: worst thing. I feel like that's super relatable. Tell me 68 00:03:35,560 --> 00:03:38,160 Speaker 2: what money looks like now that you are an adult, 69 00:03:38,240 --> 00:03:40,200 Speaker 2: because I feel like I don't know what you do 70 00:03:40,280 --> 00:03:42,040 Speaker 2: yet and we'll get there. But I feel like once 71 00:03:42,080 --> 00:03:45,000 Speaker 2: you get to an age where you're earning six figures, 72 00:03:45,440 --> 00:03:47,720 Speaker 2: like you feel like, I don't know when I was little, 73 00:03:47,800 --> 00:03:50,080 Speaker 2: that in my head was you've made it, and you 74 00:03:50,120 --> 00:03:51,800 Speaker 2: don't feel that way right now. You just feel like 75 00:03:51,800 --> 00:03:53,760 Speaker 2: you're training water and in fact you're like no v, 76 00:03:53,920 --> 00:03:55,040 Speaker 2: I'm going backwards. 77 00:03:56,320 --> 00:03:59,600 Speaker 5: I think for me, like travel is something that I 78 00:03:59,640 --> 00:04:02,640 Speaker 5: really at the moment it is a case of more 79 00:04:02,720 --> 00:04:05,400 Speaker 5: just local trips away, like a weekend away locally where 80 00:04:05,560 --> 00:04:09,280 Speaker 5: it's just a few hour drive or something where previous 81 00:04:09,360 --> 00:04:12,000 Speaker 5: to kids it might have been like either an interstate 82 00:04:12,320 --> 00:04:17,400 Speaker 5: or occasionally even an international holiday, but definitely now it's 83 00:04:17,720 --> 00:04:20,560 Speaker 5: rained back in. And then other things like just being 84 00:04:20,600 --> 00:04:23,159 Speaker 5: able to catch up with friends and be able to 85 00:04:23,200 --> 00:04:26,000 Speaker 5: have like lunches out and all that. They're probably more 86 00:04:26,120 --> 00:04:28,679 Speaker 5: the experiences that I'm spending money on, yeah. 87 00:04:28,520 --> 00:04:30,760 Speaker 2: And I feel like they're the things that you're like, no, sorry, 88 00:04:31,320 --> 00:04:33,839 Speaker 2: Like I've cut everything. I'm not cutting that too, Like, 89 00:04:33,880 --> 00:04:37,320 Speaker 2: don't take my entire social life away. So talk to 90 00:04:37,360 --> 00:04:39,480 Speaker 2: me a little bit more about I guess what this 91 00:04:39,560 --> 00:04:42,200 Speaker 2: looks like. Because you said you have two under two 92 00:04:42,760 --> 00:04:45,200 Speaker 2: and that you and your husband, I'm assuming this was 93 00:04:45,240 --> 00:04:47,640 Speaker 2: like planned, right, like because you've said, I don't know, 94 00:04:47,760 --> 00:04:49,719 Speaker 2: it seems very I don't want to be rude, but 95 00:04:49,800 --> 00:04:52,080 Speaker 2: very stereotypical. We went to the bank, we have a 96 00:04:52,080 --> 00:04:54,120 Speaker 2: good loan, I'm married to my husband. We now have 97 00:04:54,200 --> 00:04:57,680 Speaker 2: two kids under two. Like, was this the game plan? 98 00:04:57,800 --> 00:04:59,480 Speaker 2: Did you go okay, cool, like we're in a really 99 00:04:59,480 --> 00:05:03,960 Speaker 2: good finance position, and then you found yourself maybe having underbudgeted, 100 00:05:04,080 --> 00:05:06,719 Speaker 2: or like, how do you find yourself in a position 101 00:05:06,760 --> 00:05:08,880 Speaker 2: where you're like, v I still feel like we're not 102 00:05:08,920 --> 00:05:09,600 Speaker 2: getting ahead. 103 00:05:09,760 --> 00:05:12,840 Speaker 5: I feel we like we got married and we had 104 00:05:12,880 --> 00:05:16,839 Speaker 5: decided to have kids before all the prices in housing 105 00:05:16,920 --> 00:05:20,240 Speaker 5: and everything went up. So initially when my husband and 106 00:05:20,320 --> 00:05:22,680 Speaker 5: I started planning to have kids, we actually did have 107 00:05:22,720 --> 00:05:25,960 Speaker 5: an investment property as well, which was a good thing 108 00:05:26,600 --> 00:05:30,720 Speaker 5: because when everything went up, interest rates mortgage repayments went 109 00:05:30,839 --> 00:05:33,120 Speaker 5: up as well, and meant that we did have that 110 00:05:33,279 --> 00:05:37,080 Speaker 5: safety net to sell that investment property in saying that 111 00:05:37,200 --> 00:05:39,840 Speaker 5: all the money that we made from that investment property 112 00:05:39,880 --> 00:05:42,320 Speaker 5: we lost within the first year, or like not lost, 113 00:05:42,360 --> 00:05:44,320 Speaker 5: but we used it, allowing me to be on that 114 00:05:44,480 --> 00:05:46,159 Speaker 5: lead for six months with my son. 115 00:05:46,200 --> 00:05:49,240 Speaker 2: Right, And that's so hard, right because you're like, oh, 116 00:05:49,279 --> 00:05:51,320 Speaker 2: this will be fine, and then you're like, hold on, 117 00:05:51,480 --> 00:05:54,320 Speaker 2: we worked so hard for this, and that's not how 118 00:05:54,360 --> 00:05:56,840 Speaker 2: we saw in our heads that working out. Was that 119 00:05:56,920 --> 00:05:59,520 Speaker 2: disappointing or was that like nope, we're really happy with that, 120 00:05:59,560 --> 00:06:01,720 Speaker 2: because I fee like so many times. 121 00:06:01,440 --> 00:06:05,040 Speaker 5: It felt like we had put ourselves, like we had 122 00:06:05,040 --> 00:06:08,000 Speaker 5: tried to get ourselves in the best position as we could, 123 00:06:08,279 --> 00:06:10,600 Speaker 5: but then it seemed like things out of our control 124 00:06:10,839 --> 00:06:16,120 Speaker 5: just meant that we couldn't keep those things and it felt. 125 00:06:15,880 --> 00:06:16,920 Speaker 4: Like we're going backwards. 126 00:06:17,120 --> 00:06:19,320 Speaker 5: Not that we regret having kids, they're still like we 127 00:06:19,400 --> 00:06:22,120 Speaker 5: had a second one after that anyway, But yeah, you 128 00:06:22,160 --> 00:06:23,240 Speaker 5: were like, this is actually the. 129 00:06:23,160 --> 00:06:24,239 Speaker 2: Best, but it's not the point. 130 00:06:26,080 --> 00:06:31,040 Speaker 5: It just is, Yeah, we weren't able to maintain that 131 00:06:31,080 --> 00:06:33,360 Speaker 5: good financial position that we thought we were in prior 132 00:06:33,400 --> 00:06:34,159 Speaker 5: to having kids. 133 00:06:34,320 --> 00:06:36,200 Speaker 2: Yeah, no, that totally makes sense. So tell me a 134 00:06:36,240 --> 00:06:38,599 Speaker 2: little bit more. What do you and your partner do 135 00:06:38,720 --> 00:06:40,680 Speaker 2: for work and how much money do you earn? 136 00:06:40,920 --> 00:06:44,960 Speaker 5: So I'm a VET, I earn about one hundred and 137 00:06:45,040 --> 00:06:47,480 Speaker 5: ten thousand dollars pro rata. At the moment, I am 138 00:06:47,520 --> 00:06:50,520 Speaker 5: going back like part time, so that's one hundred and 139 00:06:50,520 --> 00:06:53,120 Speaker 5: ten thousand parora full time, though I will probably be 140 00:06:53,160 --> 00:06:55,520 Speaker 5: going back full time in February next year. 141 00:06:55,600 --> 00:06:57,920 Speaker 2: And what would your salary look like in February? 142 00:06:58,040 --> 00:06:59,640 Speaker 5: So going back it will be the one hundred and 143 00:06:59,640 --> 00:07:03,040 Speaker 5: ten thous and currently it's I think this financial year 144 00:07:03,120 --> 00:07:06,160 Speaker 5: was about sixty seven thousand because Matt Lee part time. 145 00:07:06,440 --> 00:07:08,560 Speaker 2: Yeah, of course, of course. So tell me what does 146 00:07:08,600 --> 00:07:09,240 Speaker 2: your husband do. 147 00:07:09,600 --> 00:07:12,520 Speaker 5: He's a building designer and he's also on one hundred 148 00:07:12,520 --> 00:07:13,400 Speaker 5: and ten thousand a year. 149 00:07:13,520 --> 00:07:16,960 Speaker 2: Okay, how cute you're like matching salaries. But also sorry, 150 00:07:17,040 --> 00:07:19,720 Speaker 2: you're a vet. You are insanely smart, aren't you. You're 151 00:07:19,760 --> 00:07:25,000 Speaker 2: a ductor? You laugh, but like that's actually very serious. 152 00:07:25,760 --> 00:07:28,560 Speaker 5: Sometimes I definitely feel like I've got my baby brain. 153 00:07:28,960 --> 00:07:32,400 Speaker 2: Oh honestly, like I haven't lost mine, which is, you know, 154 00:07:32,480 --> 00:07:34,960 Speaker 2: a little bit disappointing but not surprising to anyone who 155 00:07:35,040 --> 00:07:35,720 Speaker 2: has kids. 156 00:07:36,120 --> 00:07:38,960 Speaker 4: So talk to me about this, because I feel like a. 157 00:07:38,840 --> 00:07:42,480 Speaker 2: Building designer and a vet like that sounds very established 158 00:07:42,520 --> 00:07:44,960 Speaker 2: to me. I'm like, girl, you have studied for ages 159 00:07:45,000 --> 00:07:46,920 Speaker 2: to become a vet, and I'm sure that your husband 160 00:07:46,960 --> 00:07:49,160 Speaker 2: had to put in some pretty hard yards to get there. 161 00:07:49,480 --> 00:07:53,640 Speaker 2: You are thirty, Tell me where did it all start 162 00:07:53,680 --> 00:07:56,520 Speaker 2: to kind of feel like v I'm really not getting ahead, Like, 163 00:07:56,920 --> 00:07:58,640 Speaker 2: did you have and this is me just trying to 164 00:07:58,640 --> 00:08:01,040 Speaker 2: get some context. Did you your heads in the sand 165 00:08:01,120 --> 00:08:03,320 Speaker 2: before this? Or have you always been good at money? 166 00:08:03,400 --> 00:08:05,080 Speaker 2: I feel like you might have always You had an 167 00:08:05,120 --> 00:08:09,080 Speaker 2: investment property, so tell me about that, and like, how 168 00:08:09,280 --> 00:08:11,560 Speaker 2: then the money just became maybe not enough. 169 00:08:11,840 --> 00:08:15,240 Speaker 5: I think I was accidentally okay with money. It wasn't 170 00:08:15,360 --> 00:08:19,280 Speaker 5: very intentional, I think because I wasn't necessarily spending a 171 00:08:19,320 --> 00:08:21,760 Speaker 5: lot of money on things that I didn't deem important. 172 00:08:21,800 --> 00:08:25,760 Speaker 5: I did put, like unintentionally put money in savings, and 173 00:08:25,840 --> 00:08:28,440 Speaker 5: I think that's probably my shot for is I wasn't 174 00:08:28,440 --> 00:08:31,120 Speaker 5: intentional about it, it did mean because I was trying 175 00:08:31,120 --> 00:08:33,440 Speaker 5: to save money on tax I did do salary sacrifice 176 00:08:33,440 --> 00:08:36,480 Speaker 5: into my super when I was younger, which meant I 177 00:08:36,600 --> 00:08:40,520 Speaker 5: did actually have I'm still above average even after taking 178 00:08:40,520 --> 00:08:45,360 Speaker 5: two matt leave breaks for my age, which is nice. 179 00:08:45,559 --> 00:08:48,640 Speaker 5: But I think because I wasn't very intentional. It was 180 00:08:48,720 --> 00:08:50,800 Speaker 5: just more that I knew as long as I spent 181 00:08:50,920 --> 00:08:53,200 Speaker 5: less than I earned, i'd be okay, which was fine 182 00:08:53,360 --> 00:08:56,560 Speaker 5: pre kids, but now post kids, it seems like I 183 00:08:56,600 --> 00:08:59,160 Speaker 5: need to be a lot more intentional to be able 184 00:08:59,200 --> 00:09:02,040 Speaker 5: to maintain budgets and things. 185 00:09:02,160 --> 00:09:04,560 Speaker 2: And I feel like that can be a really big 186 00:09:04,600 --> 00:09:07,560 Speaker 2: mindset shift, especially if you've kind of gone I don't know, 187 00:09:08,280 --> 00:09:11,760 Speaker 2: you've gone from being like, you know, very educated and 188 00:09:11,760 --> 00:09:13,880 Speaker 2: you're like, no, I worked really hard so I didn't 189 00:09:13,920 --> 00:09:16,199 Speaker 2: have to be as like, I'm assuming strict with your 190 00:09:16,200 --> 00:09:19,319 Speaker 2: budgeting to like completely flipping and being like, okay, cool, 191 00:09:19,360 --> 00:09:23,000 Speaker 2: we have cut back literally every non essential from our budget. 192 00:09:23,720 --> 00:09:26,600 Speaker 2: What's that like? Because I'm assuming you didn't go great, 193 00:09:26,640 --> 00:09:29,360 Speaker 2: like once we have kids will really knuckled down with 194 00:09:29,400 --> 00:09:29,920 Speaker 2: the budgeting. 195 00:09:29,960 --> 00:09:32,240 Speaker 4: That was probably something you probably didn't bargain for. 196 00:09:32,600 --> 00:09:36,400 Speaker 5: No. I think because when we first planned kids, the 197 00:09:36,480 --> 00:09:39,680 Speaker 5: interest rates were really low, and we were hearing that 198 00:09:39,760 --> 00:09:42,360 Speaker 5: like the RBA weren't going to increase for a little 199 00:09:42,360 --> 00:09:44,240 Speaker 5: bit yet, and we're like, I think we made the 200 00:09:44,240 --> 00:09:47,000 Speaker 5: mistake of going, oh, yeah, that will work, Like the 201 00:09:47,120 --> 00:09:50,360 Speaker 5: RBA won't increase interest rates until after I go back 202 00:09:50,360 --> 00:09:53,240 Speaker 5: to work from at Lee. But no, it happened right 203 00:09:53,720 --> 00:09:56,240 Speaker 5: as I was due that all the interest increases were. 204 00:09:56,160 --> 00:10:01,240 Speaker 2: Going, Oh, that's so stressful. So then trying to sell 205 00:10:01,280 --> 00:10:04,480 Speaker 2: the house while I was in labor. Excuse me, while 206 00:10:04,480 --> 00:10:06,200 Speaker 2: you're in labor, you're trying to sell a house. 207 00:10:06,480 --> 00:10:08,320 Speaker 5: Yeah, I was trying to sell the house while I 208 00:10:08,320 --> 00:10:10,680 Speaker 5: was in the middle of labor. Like the real estate 209 00:10:10,679 --> 00:10:12,600 Speaker 5: agent was like calling me, going like these are the 210 00:10:12,640 --> 00:10:14,840 Speaker 5: offers and everything. 211 00:10:14,880 --> 00:10:17,040 Speaker 2: So that was a little bit stressful. Oh my god, 212 00:10:17,040 --> 00:10:19,040 Speaker 2: And you were answering when I was in labor. I 213 00:10:19,120 --> 00:10:21,640 Speaker 2: have my phone on, do not disturb, Like I did 214 00:10:21,679 --> 00:10:23,520 Speaker 2: not have my head in the game. Like if you'd 215 00:10:23,520 --> 00:10:26,400 Speaker 2: ask me any logical question, I would have been the yes, 216 00:10:26,520 --> 00:10:30,120 Speaker 2: whatever you say, sir, like not an option for me. 217 00:10:30,480 --> 00:10:32,199 Speaker 5: I did get to the point that I'm like, I 218 00:10:32,280 --> 00:10:34,480 Speaker 5: authorize you to make these decisions with my husband. 219 00:10:34,520 --> 00:10:35,080 Speaker 2: You don't have to. 220 00:10:35,160 --> 00:10:37,160 Speaker 5: The problem was the house was solely in my name, 221 00:10:37,240 --> 00:10:39,040 Speaker 5: so they kept on calling me, and I'm like, I 222 00:10:39,120 --> 00:10:42,160 Speaker 5: give him full permission to make all these decisions, like 223 00:10:42,600 --> 00:10:43,400 Speaker 5: stop calling me. 224 00:10:43,920 --> 00:10:46,040 Speaker 2: And did this real estate agent know that you were 225 00:10:46,040 --> 00:10:46,520 Speaker 2: in labor? 226 00:10:46,840 --> 00:10:49,240 Speaker 5: We did tell them, and I think they did eventually 227 00:10:49,559 --> 00:10:52,120 Speaker 5: after that point, start talking to my husband instead. 228 00:10:52,559 --> 00:10:55,440 Speaker 2: Okay, but like leave the whole family alone. Oh I'm 229 00:10:55,480 --> 00:10:57,760 Speaker 2: mad about this. I'm like, sorry, your husband had a 230 00:10:57,840 --> 00:10:59,720 Speaker 2: job in that moment and it was to support you, 231 00:10:59,800 --> 00:11:04,560 Speaker 2: not not apply to the real estate. Oh h anyway, 232 00:11:04,880 --> 00:11:08,080 Speaker 2: so tell me when you say, look, we've cut every 233 00:11:08,120 --> 00:11:10,640 Speaker 2: non essential from our budget. What's that like? Have you 234 00:11:10,720 --> 00:11:13,000 Speaker 2: gone and done a really big spreadsheet? Are you doing 235 00:11:13,000 --> 00:11:14,760 Speaker 2: it on the back of an envelope? What does that 236 00:11:14,800 --> 00:11:16,319 Speaker 2: budgeting process look like? 237 00:11:16,480 --> 00:11:19,400 Speaker 5: I did. I like Excel sheets, So I went through 238 00:11:19,440 --> 00:11:23,160 Speaker 5: one year of all my bank details, so the offset 239 00:11:23,160 --> 00:11:25,760 Speaker 5: account as well as our spending account, and I put 240 00:11:25,800 --> 00:11:30,880 Speaker 5: everything into Excel and then I diviated up into like categories. 241 00:11:31,559 --> 00:11:34,840 Speaker 5: So from there, like we cut out gym memberships. We've 242 00:11:34,880 --> 00:11:37,200 Speaker 5: even gone to the point that sorry, that's my girl, 243 00:11:37,960 --> 00:11:38,760 Speaker 5: hi baby. 244 00:11:39,920 --> 00:11:40,319 Speaker 2: Hey. 245 00:11:40,840 --> 00:11:42,960 Speaker 5: So we got to the point that, like we've even 246 00:11:43,000 --> 00:11:47,319 Speaker 5: cut out like internet because we have so much phone data, so. 247 00:11:46,920 --> 00:11:49,600 Speaker 2: So literally everything, literally everything. 248 00:11:49,760 --> 00:11:52,280 Speaker 5: And we've given ourselves like a fifty dollars a week 249 00:11:52,400 --> 00:11:56,920 Speaker 5: discretionary budget that we can spend all fifty dollars for discretionary, 250 00:11:56,920 --> 00:11:59,439 Speaker 5: fifty dollars for takeaway, and that's it. So like, if 251 00:11:59,480 --> 00:12:02,320 Speaker 5: we want to do like a family outing or something, 252 00:12:02,520 --> 00:12:04,840 Speaker 5: and it's going to be like one hundred dollars, we 253 00:12:04,960 --> 00:12:07,280 Speaker 5: either have to take from like one of the other, 254 00:12:07,679 --> 00:12:12,000 Speaker 5: like next week's budget or like allowance, or take it 255 00:12:12,000 --> 00:12:14,040 Speaker 5: out of the takeaway allow It's like we're trying to 256 00:12:14,080 --> 00:12:14,960 Speaker 5: cut way back. 257 00:12:15,440 --> 00:12:18,560 Speaker 2: Yeah. Wow, And is that having an impact? I feel 258 00:12:18,559 --> 00:12:20,719 Speaker 2: like you mentioned, Look, it just doesn't feel like we're 259 00:12:20,760 --> 00:12:25,040 Speaker 2: getting ahead. Is this like a forever thing? Do you 260 00:12:25,080 --> 00:12:27,360 Speaker 2: think interest rate drops are going to help? Or when 261 00:12:27,360 --> 00:12:29,800 Speaker 2: you go back to work, like, where's the light at 262 00:12:29,800 --> 00:12:32,040 Speaker 2: the end of the tunnel? Work? What are we looking towards? 263 00:12:32,240 --> 00:12:34,559 Speaker 5: I think because with my job there does seem to 264 00:12:34,600 --> 00:12:36,719 Speaker 5: be a bit of a high demand. I think once 265 00:12:36,760 --> 00:12:39,640 Speaker 5: I'm back at work full time and I can potentially 266 00:12:39,720 --> 00:12:43,559 Speaker 5: pick up extra shifts, hopefully our budget won't be as tight. 267 00:12:43,760 --> 00:12:45,400 Speaker 5: I did a budget for this year while I'm on 268 00:12:45,520 --> 00:12:48,400 Speaker 5: matt leave, and it's not possible to break even with 269 00:12:48,440 --> 00:12:51,120 Speaker 5: all our expenses. But next year, once I'm back full time, 270 00:12:51,640 --> 00:12:55,160 Speaker 5: we should be able to actually start to put money 271 00:12:55,160 --> 00:12:57,160 Speaker 5: aside in savings or investments. 272 00:12:57,200 --> 00:12:59,120 Speaker 2: Again, yeah, it looks like you've got a plan. What 273 00:12:59,160 --> 00:13:01,680 Speaker 2: does it mean to not break even does that mean 274 00:13:01,720 --> 00:13:04,920 Speaker 2: that you're relying on credit cards or you know, relying 275 00:13:04,960 --> 00:13:07,480 Speaker 2: on savings or you mentioned you sold that investment property. 276 00:13:07,520 --> 00:13:10,480 Speaker 2: What does that look like savings? Yeah, I mean that's 277 00:13:10,480 --> 00:13:12,360 Speaker 2: a good position to be in. Like, I'm so glad 278 00:13:12,400 --> 00:13:12,960 Speaker 2: you've got them. 279 00:13:13,400 --> 00:13:16,959 Speaker 5: We currently are just relying on our savings and our 280 00:13:17,000 --> 00:13:20,000 Speaker 5: savings account. It's we're not dipping into it too much, 281 00:13:20,120 --> 00:13:23,120 Speaker 5: and it hasn't got below like our emergency fun level, 282 00:13:23,640 --> 00:13:27,160 Speaker 5: but we have been like dipping into our savings. Fortunately, 283 00:13:27,200 --> 00:13:31,160 Speaker 5: we've been able not to rely on personal loans credit cards. 284 00:13:31,679 --> 00:13:32,959 Speaker 2: I do have. 285 00:13:32,880 --> 00:13:36,120 Speaker 5: An overdraft account, but we haven't needed to touch that either. 286 00:13:36,320 --> 00:13:36,880 Speaker 4: See that's it. 287 00:13:37,160 --> 00:13:38,960 Speaker 2: I know that you don't feel like you're getting ahead, 288 00:13:39,120 --> 00:13:41,120 Speaker 2: and I know that it feels I don't know, it 289 00:13:41,120 --> 00:13:43,839 Speaker 2: always feels really personal. But at this point in time, 290 00:13:43,880 --> 00:13:46,120 Speaker 2: I feel like so many of us are just treading water. 291 00:13:46,440 --> 00:13:48,440 Speaker 2: We're waiting for interest rates to come down or the 292 00:13:48,480 --> 00:13:52,160 Speaker 2: cost of living crisis pressures to like literally ease up, 293 00:13:52,640 --> 00:13:55,479 Speaker 2: and it just it feels like we're not getting anywhere. 294 00:13:56,280 --> 00:13:58,840 Speaker 2: Are you able to in this period of time have 295 00:13:58,960 --> 00:14:00,360 Speaker 2: big money goals you like? 296 00:14:00,480 --> 00:14:00,520 Speaker 1: No? 297 00:14:00,679 --> 00:14:02,920 Speaker 2: V We are trading water until I get back to 298 00:14:02,960 --> 00:14:05,000 Speaker 2: work and I have like a little bit more freedom. 299 00:14:05,200 --> 00:14:08,160 Speaker 5: I do have big money goals, Like our big long 300 00:14:08,240 --> 00:14:11,000 Speaker 5: term goal is to pay off the mortgage, be completely 301 00:14:11,040 --> 00:14:15,200 Speaker 5: debt free, as well as like invest enough that when 302 00:14:15,200 --> 00:14:17,400 Speaker 5: we get to fifty, we have the option of just 303 00:14:17,440 --> 00:14:21,320 Speaker 5: like working part time and hopefully get to the point 304 00:14:21,320 --> 00:14:23,960 Speaker 5: that we can live off dividends. I mean, we haven't 305 00:14:23,960 --> 00:14:28,040 Speaker 5: started properly investing yet, but it is something that I 306 00:14:28,040 --> 00:14:29,040 Speaker 5: would love to. 307 00:14:29,000 --> 00:14:31,880 Speaker 2: Do long term and short term. 308 00:14:32,160 --> 00:14:33,920 Speaker 5: Just want to get us to the point that we 309 00:14:34,000 --> 00:14:37,440 Speaker 5: can start saving again. And we want more than two kids, 310 00:14:37,440 --> 00:14:39,280 Speaker 5: so we want to save up and off that I 311 00:14:39,320 --> 00:14:40,880 Speaker 5: can afford to go on that leave again. 312 00:14:40,960 --> 00:14:43,080 Speaker 2: I love that what are we looking at? We're looking 313 00:14:43,120 --> 00:14:45,600 Speaker 2: at just like maybe one more for three? Or are 314 00:14:45,640 --> 00:14:49,280 Speaker 2: we doing five? Like I wouldn't ever ask someone how 315 00:14:49,280 --> 00:14:51,200 Speaker 2: many more kids do you want? Like you open to 316 00:14:51,240 --> 00:14:54,840 Speaker 2: that door or me, Yeah, ideally we would love four kids. 317 00:14:55,120 --> 00:14:58,600 Speaker 2: I love that so much. Like literally, I have one baby, 318 00:14:58,640 --> 00:15:00,960 Speaker 2: and I'm like, give me all the baby, like I 319 00:15:01,000 --> 00:15:02,000 Speaker 2: love it so much. 320 00:15:02,080 --> 00:15:04,360 Speaker 5: Pri my son, I was good with two maybe three kids, 321 00:15:04,400 --> 00:15:05,760 Speaker 5: and then after I had my son, I'm like, I 322 00:15:05,800 --> 00:15:06,160 Speaker 5: want four. 323 00:15:06,240 --> 00:15:06,840 Speaker 4: I want them more. 324 00:15:07,240 --> 00:15:09,600 Speaker 2: I love that I've got one of my girlfriends has 325 00:15:09,640 --> 00:15:13,280 Speaker 2: four and like chaos. But at the same time, I'm like, 326 00:15:13,560 --> 00:15:16,840 Speaker 2: that just looks so fun. Like when people are like, oh, 327 00:15:16,880 --> 00:15:18,920 Speaker 2: you must be so busy, I'm like, girl, you must 328 00:15:18,960 --> 00:15:22,800 Speaker 2: be having so much fun, Like, imagine that so cool. Also, 329 00:15:23,160 --> 00:15:25,320 Speaker 2: in the cost of living crisis, the idea of four 330 00:15:25,400 --> 00:15:27,760 Speaker 2: children gives me like anxiety. 331 00:15:27,760 --> 00:15:28,880 Speaker 4: But we can talk about that later. 332 00:15:29,000 --> 00:15:31,080 Speaker 2: Let's go to a really quick break because on the 333 00:15:31,080 --> 00:15:32,920 Speaker 2: flip side, I have a lot of questions for you, 334 00:15:32,960 --> 00:15:34,640 Speaker 2: and I really want to talk about your super. So 335 00:15:34,640 --> 00:15:41,280 Speaker 2: you guys, don't go anywhere, all right, we are back 336 00:15:41,400 --> 00:15:43,840 Speaker 2: a money direst I want to talk about investing. So 337 00:15:44,160 --> 00:15:45,280 Speaker 2: you mentioned when you. 338 00:15:45,240 --> 00:15:46,400 Speaker 4: Were a little bit younger. 339 00:15:46,640 --> 00:15:49,120 Speaker 2: You said, Look, I wasn't very intentional, and I also 340 00:15:49,240 --> 00:15:50,800 Speaker 2: wanted to, like, you know, make the most of my 341 00:15:50,880 --> 00:15:54,600 Speaker 2: tax situation, so I was really loading my super. What's 342 00:15:54,640 --> 00:15:57,240 Speaker 2: your superannuation look like at the moment. 343 00:15:57,080 --> 00:15:59,520 Speaker 5: It's Joshi have one hundred thousand I think last I checked, 344 00:15:59,560 --> 00:16:01,040 Speaker 5: I was like nine eight thousand. 345 00:16:01,000 --> 00:16:05,120 Speaker 2: Okay, and you're only thirty. That is looking very attractive. 346 00:16:05,600 --> 00:16:08,960 Speaker 5: Yeah, so I'm glad past me did that because yeah, 347 00:16:09,040 --> 00:16:10,960 Speaker 5: I have not been topping up my super when I've 348 00:16:10,960 --> 00:16:11,640 Speaker 5: been on Matt leave. 349 00:16:11,880 --> 00:16:15,120 Speaker 2: Yeah, honestly fair and at this point in time, you 350 00:16:15,360 --> 00:16:17,160 Speaker 2: I can almost guarantee you said you have a four 351 00:16:17,160 --> 00:16:20,280 Speaker 2: month old. You gave birth before the first of July, 352 00:16:20,400 --> 00:16:23,960 Speaker 2: which is when the contributions to superannuation kicked in for 353 00:16:24,000 --> 00:16:26,400 Speaker 2: people on Matt leaf, which honestly, I just think is rude. 354 00:16:26,440 --> 00:16:26,680 Speaker 2: I know. 355 00:16:27,160 --> 00:16:29,360 Speaker 5: And then the fact that they don't start giving it 356 00:16:29,480 --> 00:16:31,360 Speaker 5: even after first of July you have to have your 357 00:16:31,360 --> 00:16:32,239 Speaker 5: baby after. 358 00:16:32,320 --> 00:16:35,800 Speaker 4: Get rude, so rude. Like, I just have thoughts and feelings. 359 00:16:35,840 --> 00:16:37,640 Speaker 2: I mean, I'm glad we've got it, but like, if 360 00:16:37,640 --> 00:16:39,280 Speaker 2: you're already on Matt leave, come. 361 00:16:39,080 --> 00:16:39,920 Speaker 4: On, cough up. 362 00:16:40,360 --> 00:16:43,360 Speaker 2: Yeah, I wish now money, dirist. I want to know 363 00:16:43,520 --> 00:16:47,280 Speaker 2: more about your investing plans because you mentioned before my 364 00:16:47,440 --> 00:16:49,560 Speaker 2: husband and I would love to be part time by 365 00:16:49,600 --> 00:16:52,400 Speaker 2: the time we're fifty and live off dividends, et cetera. 366 00:16:52,480 --> 00:16:55,840 Speaker 2: But we haven't started investing like properly yet. What does 367 00:16:55,920 --> 00:16:58,720 Speaker 2: investing look like for you guys? You're having conversations about 368 00:16:58,720 --> 00:17:01,600 Speaker 2: it obviously right now we don't have extra cash, so 369 00:17:01,640 --> 00:17:03,800 Speaker 2: it makes sense that we're not, But like, where are 370 00:17:03,840 --> 00:17:05,560 Speaker 2: the conversations at. 371 00:17:05,760 --> 00:17:08,400 Speaker 5: Yeah, so at the moment, it's just the micro investing 372 00:17:08,480 --> 00:17:11,520 Speaker 5: with charez Eas as part of like the non negotiable 373 00:17:11,560 --> 00:17:14,080 Speaker 5: in our budget. I had been putting aside twenty dollars 374 00:17:14,080 --> 00:17:17,560 Speaker 5: per child into their bank account. So I've now actually 375 00:17:17,600 --> 00:17:21,359 Speaker 5: switched that to putting that into like charez Eas, just 376 00:17:21,400 --> 00:17:23,760 Speaker 5: to try to build up what I would have been 377 00:17:23,800 --> 00:17:24,560 Speaker 5: pain anyway. 378 00:17:25,119 --> 00:17:26,000 Speaker 2: So at the moment, it's. 379 00:17:25,920 --> 00:17:28,360 Speaker 5: Yeah, forty dollars a week, not much, but the chare 380 00:17:28,440 --> 00:17:30,800 Speaker 5: Ceas account is at about twelve hundred. 381 00:17:31,080 --> 00:17:33,400 Speaker 2: Yeah, and I mean that's very good. Like the fact 382 00:17:33,440 --> 00:17:37,040 Speaker 2: that you're investing already and you are like not failing ahead. 383 00:17:37,280 --> 00:17:39,040 Speaker 2: What you're telling me right now is maybe you're a 384 00:17:39,080 --> 00:17:41,520 Speaker 2: little bit more ahead than you think you are because 385 00:17:41,560 --> 00:17:43,640 Speaker 2: at the moment, you're in the middle of that season 386 00:17:43,680 --> 00:17:45,800 Speaker 2: of life where you don't have as much of an 387 00:17:45,800 --> 00:17:47,719 Speaker 2: income and you are going I guess a little bit 388 00:17:47,800 --> 00:17:50,919 Speaker 2: quote backwards, but you're going to get forwards, which is 389 00:17:50,960 --> 00:17:52,160 Speaker 2: also really exciting. 390 00:17:52,760 --> 00:17:54,919 Speaker 4: So talk to me about debt. 391 00:17:55,200 --> 00:17:57,760 Speaker 2: You said that you had an investment property sold that 392 00:17:58,080 --> 00:18:00,399 Speaker 2: use the profits for your first maternity lead, but you 393 00:18:00,520 --> 00:18:03,120 Speaker 2: also own a property at the moment, and I guess 394 00:18:03,240 --> 00:18:06,159 Speaker 2: interest rates are what's really like keeping you guys a 395 00:18:06,200 --> 00:18:09,320 Speaker 2: little bit back. Tell me about what that debt looks like. 396 00:18:09,400 --> 00:18:10,800 Speaker 2: What did you purchase when where? 397 00:18:10,880 --> 00:18:16,160 Speaker 5: How So with the house, we purchased Gold Coast, which 398 00:18:16,240 --> 00:18:18,480 Speaker 5: was nice, and we purchased at the end of twenty 399 00:18:18,560 --> 00:18:23,520 Speaker 5: twenty one this house, and we sold our investment property 400 00:18:23,520 --> 00:18:27,639 Speaker 5: in twenty twenty three. Fortunately at that point the house 401 00:18:28,000 --> 00:18:31,000 Speaker 5: values had both risen, but there was a little bit 402 00:18:31,000 --> 00:18:34,160 Speaker 5: of problems with the investment property with getting it sold 403 00:18:34,280 --> 00:18:36,040 Speaker 5: because problems we weren't. 404 00:18:35,840 --> 00:18:37,040 Speaker 4: Aware of came up. 405 00:18:37,320 --> 00:18:40,240 Speaker 5: As far as debt, the mortgage that we currently have 406 00:18:40,920 --> 00:18:45,400 Speaker 5: five hundred and ninety five thousand remaining on the mortgage. 407 00:18:45,480 --> 00:18:48,840 Speaker 5: I think at the time we were allowed to borrow 408 00:18:49,080 --> 00:18:52,119 Speaker 5: up to I think one point one million, but we 409 00:18:52,200 --> 00:18:55,280 Speaker 5: only borrowed six hundred and fifty thousand for our house 410 00:18:55,720 --> 00:18:58,679 Speaker 5: because we wanted to borrow a lot less than we needed. 411 00:18:58,400 --> 00:19:01,640 Speaker 2: To honestly smart, and I'm sure that you are thanking 412 00:19:01,720 --> 00:19:04,320 Speaker 2: past you for that decision, because I can't imagine the 413 00:19:04,359 --> 00:19:06,880 Speaker 2: financial pressure you would have been under if you had 414 00:19:06,880 --> 00:19:09,920 Speaker 2: borrowed one point one million dollars at this point in time, 415 00:19:10,880 --> 00:19:13,960 Speaker 2: like chaotic, I feel like you might have been forced 416 00:19:14,000 --> 00:19:17,160 Speaker 2: to sell. So tell me a little bit more you 417 00:19:17,400 --> 00:19:21,280 Speaker 2: borrowed six hundred and fifty thousand dollars for this home. 418 00:19:21,640 --> 00:19:23,920 Speaker 2: What do you think it's currently worth if you purchased 419 00:19:23,960 --> 00:19:25,080 Speaker 2: it in twenty twenty one? 420 00:19:25,520 --> 00:19:27,600 Speaker 5: For what we can see like on real estate dot Com, 421 00:19:27,680 --> 00:19:29,520 Speaker 5: it's worth over just over a million. 422 00:19:29,560 --> 00:19:33,919 Speaker 2: Now, okay, see this isn't as bad. I feel like 423 00:19:34,000 --> 00:19:36,000 Speaker 2: the more I get into your money story, the more 424 00:19:36,040 --> 00:19:39,000 Speaker 2: I'm like, okay, cool, Like, it probably feels like you're 425 00:19:39,440 --> 00:19:42,120 Speaker 2: drowning and you're just like not getting ahead, but as 426 00:19:42,200 --> 00:19:44,920 Speaker 2: time's going on, you're like supers ticking away. I'm sure 427 00:19:44,960 --> 00:19:48,440 Speaker 2: that your husband has a relatively healthy super account doing 428 00:19:48,480 --> 00:19:51,920 Speaker 2: what he does. You've got a nice amount of equity. Like, girl, 429 00:19:51,960 --> 00:19:54,680 Speaker 2: if you've got five hundred and ninety five thousand remaining, 430 00:19:54,680 --> 00:19:57,520 Speaker 2: you've got nearly four hundred thousand dollars worth of equity. 431 00:19:57,520 --> 00:20:00,359 Speaker 2: And that doesn't mean that we are cashing out and 432 00:20:00,359 --> 00:20:03,879 Speaker 2: borrowing more. But how good if like, let's be honest, 433 00:20:03,960 --> 00:20:06,639 Speaker 2: the sh one t hit the fan and you needed 434 00:20:06,680 --> 00:20:08,680 Speaker 2: to sell, knowing that you'd be sitting on a nice 435 00:20:08,680 --> 00:20:11,240 Speaker 2: amount of cash, I'll take some pressure off. 436 00:20:11,440 --> 00:20:12,480 Speaker 5: Yeah, it definitely does. 437 00:20:12,760 --> 00:20:16,439 Speaker 2: Absolutely, And then also in the future, once you go 438 00:20:16,560 --> 00:20:18,639 Speaker 2: back to being on your like full time, because you 439 00:20:18,720 --> 00:20:21,360 Speaker 2: mentioned before you're like, look, pro rather, I'm earning what 440 00:20:21,480 --> 00:20:24,840 Speaker 2: like sixty seven thousand dollars this last financial year, but 441 00:20:24,880 --> 00:20:27,120 Speaker 2: you're going to go back to one ten, Like you're 442 00:20:27,119 --> 00:20:29,040 Speaker 2: going to have some more wiggle room. We probably have 443 00:20:29,160 --> 00:20:32,600 Speaker 2: some more investment opportunity, and we could even potentially talk 444 00:20:32,640 --> 00:20:36,199 Speaker 2: about investment property like you guys aren't so behind that. 445 00:20:36,680 --> 00:20:38,480 Speaker 2: Oh my goodness, Like I don't know how we're ever 446 00:20:38,520 --> 00:20:40,960 Speaker 2: going to get back. But it still doesn't feel good, 447 00:20:41,040 --> 00:20:44,760 Speaker 2: especially when you are two incredibly educated human beings who 448 00:20:44,880 --> 00:20:47,120 Speaker 2: are doing their best and you're like, I can't even 449 00:20:47,119 --> 00:20:49,160 Speaker 2: work out how to do this, Like how are other 450 00:20:49,200 --> 00:20:52,000 Speaker 2: people doing this? Because I'm giving myself literally fifty bucks 451 00:20:52,040 --> 00:20:53,840 Speaker 2: a week, and if I want to do stuff with 452 00:20:53,840 --> 00:20:56,840 Speaker 2: the kids, I've got to use that cash. Yep. So 453 00:20:56,880 --> 00:21:01,680 Speaker 2: we're asset comfortable and maybe hash flow poor. 454 00:21:01,440 --> 00:21:03,280 Speaker 4: At the moment. Yeah, that would be it. 455 00:21:03,400 --> 00:21:05,080 Speaker 2: I feel like that's not the worst position to be, 456 00:21:05,280 --> 00:21:09,120 Speaker 2: but also not the most fun position, given you've had 457 00:21:09,160 --> 00:21:12,199 Speaker 2: to really knuckle down over the past little while. What 458 00:21:12,280 --> 00:21:14,320 Speaker 2: do you think your best money habit is? 459 00:21:14,600 --> 00:21:18,040 Speaker 5: I can be very disciplined with money when I want 460 00:21:18,080 --> 00:21:20,920 Speaker 5: to be so once I realized that we were cash 461 00:21:20,920 --> 00:21:23,359 Speaker 5: flow poor and I put in the budget. We've been 462 00:21:23,440 --> 00:21:25,480 Speaker 5: really good at sticking with it, so we put that 463 00:21:25,560 --> 00:21:29,080 Speaker 5: in place back in May. And May and June were 464 00:21:29,119 --> 00:21:31,560 Speaker 5: like the first months that we actually spend less than 465 00:21:31,560 --> 00:21:33,760 Speaker 5: we're budgeted to spend, which. 466 00:21:33,600 --> 00:21:36,159 Speaker 2: Is very cool and very exciting. Do you think that 467 00:21:36,240 --> 00:21:37,000 Speaker 2: will continue? 468 00:21:37,200 --> 00:21:39,879 Speaker 5: Yeah? I think so. Now that we're both being a 469 00:21:39,920 --> 00:21:42,480 Speaker 5: lot more mindful with how we're spending money, I think 470 00:21:42,840 --> 00:21:45,159 Speaker 5: that will definitely rain in the amount that we're losing 471 00:21:45,359 --> 00:21:46,000 Speaker 5: or spending. 472 00:21:46,160 --> 00:21:46,600 Speaker 4: Absolutely. 473 00:21:46,680 --> 00:21:48,359 Speaker 2: And I feel like I talk to people all the 474 00:21:48,400 --> 00:21:51,560 Speaker 2: time about budgets, right, I'm like loke obsessed with budgeting 475 00:21:51,600 --> 00:21:53,440 Speaker 2: and cash flow and finance. I don't think that's a 476 00:21:53,480 --> 00:21:57,560 Speaker 2: secret in this community. But it's really interesting going through 477 00:21:57,560 --> 00:22:00,760 Speaker 2: your budget and realizing where your money is flowing. What 478 00:22:00,840 --> 00:22:03,240 Speaker 2: do you think was the most surprising thing that you 479 00:22:03,240 --> 00:22:05,520 Speaker 2: were going through your budget going hold on, that's costing 480 00:22:05,600 --> 00:22:08,360 Speaker 2: us what? Because I don't think it's surprising when you go, oh, 481 00:22:08,440 --> 00:22:11,760 Speaker 2: oh cut out this, like gym membership, but like, was 482 00:22:11,800 --> 00:22:14,800 Speaker 2: there a spending category that shocked you? Oh? 483 00:22:14,840 --> 00:22:17,240 Speaker 5: It's one that I hear all the time on money diaries. 484 00:22:17,280 --> 00:22:20,000 Speaker 5: But I think it's the takeaway. The amount that we're 485 00:22:20,040 --> 00:22:22,920 Speaker 5: spending on takeaway was almost half our grocery budget, which 486 00:22:22,960 --> 00:22:25,520 Speaker 5: was ridiculous. Like my husband and I we enjoy, like 487 00:22:25,840 --> 00:22:28,280 Speaker 5: our thing to do together would just be to go 488 00:22:28,320 --> 00:22:31,239 Speaker 5: to a nice cafe and spend some time together at 489 00:22:31,240 --> 00:22:34,439 Speaker 5: a cafe. So I think we did a lot of takeaway. 490 00:22:34,520 --> 00:22:36,320 Speaker 5: So now we're just being a bit more mindful. But 491 00:22:36,800 --> 00:22:39,680 Speaker 5: it was, yeah, probably half of our grocery budget. We'll 492 00:22:39,720 --> 00:22:40,840 Speaker 5: spend in on takeaways. 493 00:22:41,080 --> 00:22:43,879 Speaker 2: Yeah, when I went on my leg very short, but 494 00:22:43,920 --> 00:22:47,520 Speaker 2: when I went on maternity leave with Harvey, I was 495 00:22:47,560 --> 00:22:50,679 Speaker 2: tracking all of my spending and like I hadn't tracked 496 00:22:50,720 --> 00:22:54,160 Speaker 2: my spending as aggressively as I had until I had, 497 00:22:54,160 --> 00:22:55,600 Speaker 2: you know, a little bit more breathing room. 498 00:22:55,680 --> 00:22:57,600 Speaker 4: And I was like, oh, I do the budgets because. 499 00:22:57,400 --> 00:23:00,560 Speaker 2: Like any normal person on their matt leave, that's exactly 500 00:23:00,640 --> 00:23:02,320 Speaker 2: what they want to do. It's not but I was 501 00:23:02,400 --> 00:23:05,840 Speaker 2: very excited about it. I was shocked at how much 502 00:23:05,880 --> 00:23:08,320 Speaker 2: and like I should know, right, like we're smart people. 503 00:23:08,800 --> 00:23:11,600 Speaker 2: But like the little coffees, the fact that I would 504 00:23:11,600 --> 00:23:13,840 Speaker 2: go to the cafe and like use it as my like, oh, 505 00:23:13,880 --> 00:23:15,439 Speaker 2: Harvey and I going out like you know, I've got 506 00:23:15,440 --> 00:23:17,159 Speaker 2: a four week old baby. I thought I was on 507 00:23:17,240 --> 00:23:19,399 Speaker 2: top of the world, you know, even getting out of 508 00:23:19,440 --> 00:23:21,680 Speaker 2: the house in the morning for a walk on my own, 509 00:23:21,720 --> 00:23:23,320 Speaker 2: by the way, because like, to me, that was a 510 00:23:23,320 --> 00:23:26,359 Speaker 2: big feat. Are you telling me? Like I'm walking the 511 00:23:26,440 --> 00:23:29,400 Speaker 2: dog and pushing a pram at the same time by myself, 512 00:23:29,480 --> 00:23:30,840 Speaker 2: Like to me, that was massive. 513 00:23:31,240 --> 00:23:32,760 Speaker 4: So I would get to the cafe. 514 00:23:32,840 --> 00:23:35,399 Speaker 2: What do you mean and almond croissant is nine dollars 515 00:23:35,480 --> 00:23:36,840 Speaker 2: and at the time, I was like, yep, just an 516 00:23:36,840 --> 00:23:39,399 Speaker 2: Alma cissant and a latte. And then I'd reflect on 517 00:23:39,480 --> 00:23:42,280 Speaker 2: my like budget, and I'd be like, hold on, this 518 00:23:42,320 --> 00:23:44,719 Speaker 2: is like getting a bit embarrassing. And I was like, Steve, 519 00:23:44,800 --> 00:23:47,720 Speaker 2: did you know they've we spent like, you know, over 520 00:23:47,920 --> 00:23:50,120 Speaker 2: this week. I think it was like two hundred and 521 00:23:50,200 --> 00:23:52,679 Speaker 2: fifty dollars or something at cafes And I was like, 522 00:23:52,720 --> 00:23:54,600 Speaker 2: this is just a week. And he's like, well, how 523 00:23:54,640 --> 00:23:57,359 Speaker 2: did that happen? Because he didn't believe me, And I 524 00:23:57,400 --> 00:23:59,840 Speaker 2: was like, well, you know, we spent sixty dollars on 525 00:23:59,840 --> 00:24:02,439 Speaker 2: the Saturday, and then on this Sunday we spent thirty 526 00:24:02,480 --> 00:24:04,760 Speaker 2: dollars because we both had like a little you know, 527 00:24:05,400 --> 00:24:08,600 Speaker 2: treat and a coffee and I've been spending some money 528 00:24:08,680 --> 00:24:11,000 Speaker 2: during the week and then your coffee's added up, like 529 00:24:11,080 --> 00:24:12,680 Speaker 2: it just added up. And I was like, that's a 530 00:24:12,720 --> 00:24:16,760 Speaker 2: bloody grocery budget. That was so embarrassing, Like cut that out, 531 00:24:16,760 --> 00:24:20,400 Speaker 2: don't worry. But it's really confronting, isn't it. 532 00:24:20,400 --> 00:24:23,480 Speaker 5: It is? And it's so easy to do, I know. 533 00:24:23,640 --> 00:24:26,560 Speaker 2: I feel like they're the little treats that I'm like, no, 534 00:24:26,760 --> 00:24:29,560 Speaker 2: surely that doesn't eat into the budget too much, and 535 00:24:29,600 --> 00:24:32,240 Speaker 2: it really does. So I'm not cutting out coffee. I 536 00:24:32,240 --> 00:24:34,719 Speaker 2: think I've said that on the show before, not cutting 537 00:24:34,720 --> 00:24:37,000 Speaker 2: that out, but I will cut out the additional little 538 00:24:37,000 --> 00:24:39,640 Speaker 2: sweet treat or maybe we can have a few pieces 539 00:24:39,680 --> 00:24:42,119 Speaker 2: of toast before we go for our walk and just 540 00:24:42,200 --> 00:24:43,320 Speaker 2: have a coffee. 541 00:24:43,880 --> 00:24:45,400 Speaker 4: Yeah. 542 00:24:45,520 --> 00:24:48,680 Speaker 5: So yes, going out with the pup and the bub 543 00:24:48,760 --> 00:24:50,320 Speaker 5: together is a big. 544 00:24:50,080 --> 00:24:52,879 Speaker 2: Feat when you're a new mom too. I feel like 545 00:24:52,960 --> 00:24:55,760 Speaker 2: people underrate that right, Like I remember my husband came 546 00:24:55,760 --> 00:24:57,479 Speaker 2: home and I said, guess what I did today? And 547 00:24:57,480 --> 00:24:59,680 Speaker 2: he was like what, And I was like, I went 548 00:24:59,680 --> 00:25:01,760 Speaker 2: for a w awk with Lucy and Pavey and he 549 00:25:01,880 --> 00:25:06,320 Speaker 2: was like, congrats, I guess, and I was like no, no, no, 550 00:25:06,400 --> 00:25:08,480 Speaker 2: I walked the dog and pushed the premp and he 551 00:25:08,600 --> 00:25:11,000 Speaker 2: was just like looking at me like I was crazy. Sorry, 552 00:25:11,040 --> 00:25:13,639 Speaker 2: I felt so naked. I was like, this dog that 553 00:25:13,760 --> 00:25:16,120 Speaker 2: is incredibly well trained, for some reason in my head 554 00:25:16,359 --> 00:25:17,960 Speaker 2: was going to be the worst trained dog in the 555 00:25:18,080 --> 00:25:19,760 Speaker 2: entire world. She was probably going to run across a 556 00:25:19,800 --> 00:25:22,919 Speaker 2: main road. In my head, I did it. And I 557 00:25:22,920 --> 00:25:24,919 Speaker 2: don't think we talk about that enough because to me, 558 00:25:25,200 --> 00:25:26,560 Speaker 2: I got out of that. And do you know what 559 00:25:26,800 --> 00:25:28,920 Speaker 2: I was wearing clean active wear? 560 00:25:29,840 --> 00:25:30,920 Speaker 4: That's also an achievement. 561 00:25:31,600 --> 00:25:33,440 Speaker 2: It's do you know what I had it made? I 562 00:25:33,480 --> 00:25:35,639 Speaker 2: had it made it four weeks. 563 00:25:36,560 --> 00:25:38,840 Speaker 5: Yeah. I think sometimes just washing your hair when you 564 00:25:38,840 --> 00:25:40,639 Speaker 5: have the new bubbers an achievement as well. 565 00:25:40,800 --> 00:25:42,560 Speaker 4: Do you know what I reckon that that needs to 566 00:25:42,600 --> 00:25:43,439 Speaker 4: be the priority. 567 00:25:43,840 --> 00:25:47,280 Speaker 2: Like, you need a partner, a partner, birthing partner, friend, 568 00:25:47,400 --> 00:25:49,679 Speaker 2: come over watch my baby for the twenty minutes that 569 00:25:49,720 --> 00:25:52,280 Speaker 2: I'll be in the shower. You come out, you feel 570 00:25:52,320 --> 00:25:55,359 Speaker 2: like an entirely new human being. Like sometimes you just 571 00:25:55,400 --> 00:25:57,960 Speaker 2: need a shower and to step away from the baby 572 00:25:58,000 --> 00:25:59,639 Speaker 2: for like ten minutes. I know you don't want to, 573 00:26:00,240 --> 00:26:03,320 Speaker 2: but you will be six million times better as a 574 00:26:03,400 --> 00:26:05,159 Speaker 2: mum after you've had that shower promise. 575 00:26:05,320 --> 00:26:06,440 Speaker 5: It makes such a difference. 576 00:26:06,680 --> 00:26:08,920 Speaker 2: Now at money Dirives, we need to flip the narrative here. 577 00:26:09,240 --> 00:26:11,399 Speaker 2: What do you think your worst money habit is? 578 00:26:11,880 --> 00:26:15,800 Speaker 5: I think because we both were earning a decent amount 579 00:26:15,840 --> 00:26:18,240 Speaker 5: before I went on that leave, it was so easy 580 00:26:18,320 --> 00:26:21,760 Speaker 5: to have lifestyle creep and just justify it. Like if 581 00:26:21,760 --> 00:26:24,760 Speaker 5: I picked up an extra shift before having my bub 582 00:26:24,800 --> 00:26:26,119 Speaker 5: I would just be like, oh, well, I've WoT this 583 00:26:26,160 --> 00:26:28,879 Speaker 5: extra shift. I'm having more money that justifies me having 584 00:26:29,040 --> 00:26:32,240 Speaker 5: takeout lunch, at a coffee or all those things. So 585 00:26:32,320 --> 00:26:37,159 Speaker 5: I definitely think lifestyle creep unchecked definitely ate up a 586 00:26:37,200 --> 00:26:38,840 Speaker 5: lot of potential savings. 587 00:26:39,160 --> 00:26:41,240 Speaker 2: Yeah, and I feel like it's nice to reflect on that, 588 00:26:41,280 --> 00:26:44,920 Speaker 2: but also sorry, I enjoyed those things as well. Money 589 00:26:44,960 --> 00:26:47,199 Speaker 2: darist at the start of the show, you said, I 590 00:26:47,240 --> 00:26:49,439 Speaker 2: reckon I'm a B plus because we might not have 591 00:26:49,560 --> 00:26:52,160 Speaker 2: heaps of cash at the moment, but we're not bad 592 00:26:52,200 --> 00:26:55,000 Speaker 2: with money. What do you think it would take to 593 00:26:55,000 --> 00:26:57,040 Speaker 2: get you to like an A or an A plus? 594 00:26:57,040 --> 00:26:59,000 Speaker 2: Like what would have to change? Is it just an 595 00:26:59,000 --> 00:27:02,120 Speaker 2: increase in cash or they're like things You're like, nah, 596 00:27:02,160 --> 00:27:04,359 Speaker 2: I would need to do ABC and D Like, what 597 00:27:04,400 --> 00:27:05,399 Speaker 2: does that look like for you. 598 00:27:05,640 --> 00:27:08,359 Speaker 5: I think at this point in time, an increasing cash 599 00:27:08,359 --> 00:27:11,600 Speaker 5: flow will be the majority of it, and the other 600 00:27:11,680 --> 00:27:15,200 Speaker 5: thing will be sticking with the budget longer term, because 601 00:27:15,240 --> 00:27:17,200 Speaker 5: at the moment it's got like a lot of momentum 602 00:27:17,520 --> 00:27:19,840 Speaker 5: having had the budget for about three months and been 603 00:27:19,880 --> 00:27:23,159 Speaker 5: doing well. But I know previously I've done all this, 604 00:27:23,320 --> 00:27:25,520 Speaker 5: done the budget, and about the six month mark, I 605 00:27:25,600 --> 00:27:28,359 Speaker 5: get a bit sloppy with it, and lifestyle creep starts 606 00:27:28,359 --> 00:27:30,760 Speaker 5: to creep back in, and so I think for it 607 00:27:30,800 --> 00:27:34,200 Speaker 5: to get higher, I need to be better at reevaluating, 608 00:27:34,240 --> 00:27:36,240 Speaker 5: sticking to the budget, and then tweaking it is needed. 609 00:27:36,280 --> 00:27:38,960 Speaker 2: I've been saying this to my team. Actually we need 610 00:27:39,000 --> 00:27:41,320 Speaker 2: to get like a little group. And I don't even 611 00:27:41,320 --> 00:27:44,520 Speaker 2: know how to facilitate this, but like maybe a reminder 612 00:27:44,600 --> 00:27:47,159 Speaker 2: where we all get every three months to hey, we 613 00:27:47,240 --> 00:27:49,879 Speaker 2: know you're starting to slip off your budget train. Now's 614 00:27:49,920 --> 00:27:52,120 Speaker 2: the time to redo it. Because we all do it. 615 00:27:52,240 --> 00:27:54,480 Speaker 2: I'm guilty of it. Like I get in a mood 616 00:27:54,680 --> 00:27:57,359 Speaker 2: and I do my whole budget and I am perfect 617 00:27:57,880 --> 00:28:00,399 Speaker 2: for a week and then things start to slip or 618 00:28:00,440 --> 00:28:02,320 Speaker 2: there's something that popped up in my budget that I 619 00:28:02,320 --> 00:28:04,280 Speaker 2: forgot to budget for and then I'm like, oh, I 620 00:28:04,359 --> 00:28:06,600 Speaker 2: fix that later, and then all of a sudden, it's 621 00:28:06,640 --> 00:28:08,920 Speaker 2: three months and I haven't looked at that spreadsheet. 622 00:28:09,480 --> 00:28:11,199 Speaker 4: I feel like we're all guilty of it. So we 623 00:28:11,280 --> 00:28:12,600 Speaker 4: need to find some way in. 624 00:28:12,560 --> 00:28:15,879 Speaker 2: This community to foster more group accountability, because that would 625 00:28:15,880 --> 00:28:18,600 Speaker 2: be I don't know, for me, a lot more motivating. 626 00:28:19,040 --> 00:28:22,480 Speaker 5: Yeah, have the what Monday money wins and every three 627 00:28:22,520 --> 00:28:25,679 Speaker 5: months are budget need to come up with a catchy 628 00:28:25,880 --> 00:28:26,520 Speaker 5: phrase for it? 629 00:28:26,600 --> 00:28:29,040 Speaker 2: But yeah, exactly, And I'm not even sure if money 630 00:28:29,040 --> 00:28:31,879 Speaker 2: win is like that catchy, but I've said it so 631 00:28:32,000 --> 00:28:34,160 Speaker 2: often that people who have just adopted it and we're 632 00:28:34,200 --> 00:28:36,600 Speaker 2: just not gonna question it. So I'll think of some 633 00:28:36,760 --> 00:28:40,840 Speaker 2: kind of catchy like accountability something. But there's no day 634 00:28:40,840 --> 00:28:44,120 Speaker 2: of the week that starts with an A, So I've 635 00:28:44,120 --> 00:28:45,120 Speaker 2: got to get crafty. 636 00:28:45,280 --> 00:28:49,280 Speaker 4: I might ask my friend chat GPT money darist. 637 00:28:49,440 --> 00:28:52,600 Speaker 2: This has been such a good money hirie. I feel 638 00:28:52,600 --> 00:28:55,800 Speaker 2: like it just disreally relatable, like so many people in 639 00:28:55,800 --> 00:28:59,360 Speaker 2: our community are earning what you're earning and feeling justice stuck, 640 00:28:59,640 --> 00:29:02,880 Speaker 2: and I feel that it is a point of maybe 641 00:29:02,920 --> 00:29:05,960 Speaker 2: not contention, but a point where you're like, oh, I 642 00:29:05,960 --> 00:29:09,360 Speaker 2: feel a bit embarrassed because you're not a low income earner, 643 00:29:09,720 --> 00:29:12,240 Speaker 2: so you don't want to be seen to be like complaining, 644 00:29:12,640 --> 00:29:15,760 Speaker 2: but you also are working really hard for the money 645 00:29:15,800 --> 00:29:18,560 Speaker 2: that you've gotten gotten to that stage, and you go, 646 00:29:18,680 --> 00:29:20,360 Speaker 2: hold on, but I want to talk about it as 647 00:29:20,400 --> 00:29:22,280 Speaker 2: well and make sure that I'm on the right track 648 00:29:22,320 --> 00:29:23,800 Speaker 2: and doing the right things. And it would be so 649 00:29:23,920 --> 00:29:26,440 Speaker 2: nice to be able to share this load with somebody, 650 00:29:26,480 --> 00:29:29,000 Speaker 2: But then you don't want to because you feel like, oh, 651 00:29:29,080 --> 00:29:31,120 Speaker 2: I know, I'm not in the worst position ever, right, 652 00:29:31,360 --> 00:29:35,080 Speaker 2: So this I think has been the perfect little conversation 653 00:29:35,840 --> 00:29:37,760 Speaker 2: so many people who are in your position, My love, 654 00:29:38,280 --> 00:29:41,120 Speaker 2: Thank you. It has been an absolute pleasure getting to 655 00:29:41,120 --> 00:29:43,200 Speaker 2: share your story. Thank you so much, and I know 656 00:29:43,280 --> 00:29:44,200 Speaker 2: the community is just going to. 657 00:29:44,240 --> 00:29:47,000 Speaker 4: Love the fact that this was just so relatable. I hope. 658 00:29:47,000 --> 00:29:49,000 Speaker 2: But we get to cross pubs at some point in 659 00:29:49,040 --> 00:29:51,800 Speaker 2: Person two so that I can meet that little lady 660 00:29:51,960 --> 00:29:54,320 Speaker 2: who's been snugging you the whole time we've been doing 661 00:29:54,320 --> 00:29:55,160 Speaker 2: this money diary. 662 00:29:55,840 --> 00:29:58,200 Speaker 5: Well, thanks so much, it's been so much fun. 663 00:30:04,440 --> 00:30:06,960 Speaker 6: The advice shared on She's on the Money is general 664 00:30:07,040 --> 00:30:08,200 Speaker 6: in nature and does. 665 00:30:08,040 --> 00:30:12,040 Speaker 2: Not consider your individual circumstances. She's on the Money exists 666 00:30:12,160 --> 00:30:15,360 Speaker 2: purely for educational purposes and should not be relied upon 667 00:30:15,440 --> 00:30:18,479 Speaker 2: to make an investment or financial decision. If you do 668 00:30:18,600 --> 00:30:20,640 Speaker 2: choose to buy a financial product, read. 669 00:30:20,440 --> 00:30:24,160 Speaker 6: The PDS TMD and obtain appropriate financial advice. 670 00:30:23,840 --> 00:30:25,160 Speaker 2: Tailored towards your needs. 671 00:30:25,520 --> 00:30:29,480 Speaker 6: Victoria Divine and She's on the Money are authorized representatives 672 00:30:29,520 --> 00:30:33,000 Speaker 6: of Money. Sheper Pty Ltd A b N three two 673 00:30:33,040 --> 00:30:37,000 Speaker 6: one six four nine two seven seven zero eight AFSL 674 00:30:37,120 --> 00:30:44,640 Speaker 6: four five one two eight nine