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

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Speaker 1: woman and I'm here to acknowledge country. T Glenn youan

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Speaker 1: Ganya Niana, kaka ya ya bin ahaka nian ar gay

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Speaker 1: In Nimbina, yakarum jar dominyamiga Umagahawakaman damon imlan Wima bang

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Speaker 1: gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,

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Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.

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Speaker 1: We thank acknowledge and respect the Aberiginal people's land that

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Speaker 1: we're gathering on today. Take pleasure in all the land

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Speaker 1: and respect all that you see. She's on the Money

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Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,

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Speaker 1: knowledge and resources for you to thrive.

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Speaker 2: She's on the Money.

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Speaker 3: She's on the Money. Hello, and welcome to She's on

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Speaker 3: the Money, the podcast of les you be pervy about

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Speaker 3: other people's money habits for educational purposes, of course, welcome

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Speaker 3: back to another one of our money diaries, brought to

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Speaker 3: you by sky Wealth, where we get to talk with

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Speaker 3: one of our incredible She's on the Money community members

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Speaker 3: all about their journey. Let's jump straight into it, because

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Speaker 3: this week I got an email and it sounded exactly

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Speaker 3: like this, dear, she's on the money. I went from

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Speaker 3: zero financial literacy and around sixty thousand dollars of personal

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Speaker 3: debt to a complete money makeover and getting my life together.

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Speaker 3: I paid off all of my debt, built a healthy

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Speaker 3: emergency fund, and started investing. I even moved to a

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Speaker 3: rural location to meet my money goals. I thought I

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Speaker 3: had everything sorted and was excited for a long and

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Speaker 3: financially comfortable maternity leave until my baby's unexpected metas costs

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Speaker 3: completely decimated my savings and emergency funds. I had to pivot,

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Speaker 3: but I am currently clawing my way back to getting

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Speaker 3: our finances under control again. Money Diarist, Hello, that sounds

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Speaker 3: elite but also just so stressful. Are you okay? Is

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Speaker 3: baby okay?

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Speaker 2: She is now. She's doing amazing now. But it was

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Speaker 2: a scary twelve months, that's for sure. But yeah, it's

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Speaker 2: been a whirlwind. But yeah, hearing it back, it sounds

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Speaker 2: like a lot.

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Speaker 3: Yeah, it sounds iconic. Sorry, and I know that you're like, oh, like,

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Speaker 3: I've had to pivot, currently clawing my way back and

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Speaker 3: that's exactly how it feels. But like you had the

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Speaker 3: emergency fund and the savings to get you through that,

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Speaker 3: and that's what they're for. As much as we don't

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Speaker 3: like having to rebuild because we feel like, oh my goodness,

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Speaker 3: I'm starting from scratch, but like that's that's the point,

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Speaker 3: Like that's what they're for. You didn't go into debt,

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Speaker 3: and that's so exciting.

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Speaker 2: I know, it is such a privilege to have had

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Speaker 2: that there so that I could look after her in

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Speaker 2: the best way possible and give her the best up life.

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Speaker 2: So yeah, I'm just very very thankful that I had

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Speaker 2: an emergency fund.

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Speaker 3: All right, So let's dive into it a little bit

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Speaker 3: more Before I get to ask you about your money story.

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Speaker 3: I want to know what grade would you give your

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Speaker 3: money habits from A through to AIRF if I asked

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Speaker 3: you to give them a grade.

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Speaker 2: I'm going to go with a B, which feels very safe.

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Speaker 2: But I'm starting from an absolute f. Okay.

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Speaker 3: I mean I could see that when you said I'm

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Speaker 3: from zero financial literacy and had sixty thousand dollars worth

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Speaker 3: of personal debt, which I can't wait to get into.

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Speaker 3: Like I love the nitty gritty of where people have

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Speaker 3: come but like, I can see why you feel that.

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Speaker 3: I can see why you feel that, and I do

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Speaker 3: feel like b is safe. But we're going to learn

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Speaker 3: a little bit more about it. So my favorite question

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Speaker 3: in the entire world, money diarist, Can you tell me

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Speaker 3: a little bit more about your money story?

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Speaker 2: Sure? So, I guess we'll start with my childhood. My

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Speaker 2: parents didn't come from money. They would have come from

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Speaker 2: very firmly working class families, but they worked really hard

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Speaker 2: and ensured that when I was growing up we were

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Speaker 2: in a very comfortable, middle class family. I had somewhat

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Speaker 2: of a sense that money might be tight, but we

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Speaker 2: were never stressed about money. My parents made us feel comfortable.

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Speaker 2: They sent us to good schools, and you know, we

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Speaker 2: didn't have a fancy house or anything. But if there

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Speaker 2: was ever anything we wanted in terms of hobbies or interests,

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Speaker 2: they would make that work. Like, for example, I was

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Speaker 2: an elite athlete growing up, and I know now as

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Speaker 2: an adult that would have been a huge cost to

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Speaker 2: go through training and travel around Australia to compete. But

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Speaker 2: they never once made that feel like a financial burden.

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Speaker 2: So they were amazing in that aspect.

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Speaker 3: And you literally never know, like when you're a kid,

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Speaker 3: you're like, oh, I'll go to training or do x YZ.

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Speaker 3: You just you've got no idea. And also, sorry, your

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Speaker 3: parents must love you so much because that's such a

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Speaker 3: sacrifice in terms of time, not just money, like you

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Speaker 3: can throw money at stuff like that, but like, sorry,

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Speaker 3: you're a teenager. I'm assuming at this point the fact

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Speaker 3: that they probably had to go to every training. You're

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Speaker 3: not driving yourself there.

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Speaker 2: They did, though, five o'clock starts at the pool were

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Speaker 2: a lot, but yet they were amazing. And my childhood

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Speaker 2: was a bit different in the fact as well that

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Speaker 2: my mum took on the breadwinner role in my family

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Speaker 2: and my dad took on those more traditional caregiving roles.

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Speaker 2: So I was always modeled really strong female leadership and yeah,

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Speaker 2: my mum's pretty amazing. So that was really cool growing

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Speaker 2: up that way, which was very different from my friends

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Speaker 2: who all had just a very different family set up.

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Speaker 2: But yeah, so we never went without. But my parents

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Speaker 2: were also very traditional in the fact we didn't talk

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Speaker 2: about money. They didn't teach us anything about finances. So

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Speaker 2: when I became an adult and went to UNI and

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Speaker 2: started working casually as UNI students do. I had no

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Speaker 2: idea what to do with money, and I spent every

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Speaker 2: single cent I earned and lived paycheck to paycheck, which

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Speaker 2: was same quitely fun like I had a great time.

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Speaker 3: Yeah, same, but it I guess.

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Speaker 2: I always had the sense that I wasn't earning enough

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Speaker 2: to save, so what was the point. I think I

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Speaker 2: was very all or nothing, Like if I can't put

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Speaker 2: five hundred dollars away this week, why would I bother? Yeah?

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Speaker 2: So I didn't learn anything. And I always thought when

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Speaker 2: I started my career and earned more, I would save more.

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Speaker 2: But as I learned that saving doesn't just magically happen

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Speaker 2: suddenly because you grow up something you actually have to learn,

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Speaker 2: which I didn't know at the time. So when I

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Speaker 2: started working full time, I just spent all that money too.

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Speaker 2: And I think I was a very typical post a

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Speaker 2: child of lifestyle creep. I just bought more things, I

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Speaker 2: went out more. I very much fell into that statistic

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Speaker 2: that you talk about that most Australians don't have access

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Speaker 2: to five hundred dollars, And despite having an okay wage,

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Speaker 2: there was no way I would ever have access to

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Speaker 2: five hundred dollars just at the job of a hat.

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Speaker 2: So that's just how I lived paycheck to paycheck with

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Speaker 2: no savings.

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Speaker 3: I feel like that's so relatable, literally just to me,

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Speaker 3: because that's what I did. I feel like I had

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Speaker 3: this idea that when you become an adult, your shit

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Speaker 3: gets together, right, I just know, yeah, well yeah, yeah, yeah,

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Speaker 3: Like I won't have any day. It would be fine.

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Speaker 3: I'm probably gonna like find Prince Charmie, we're getting married. Well,

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Speaker 3: just buy a house somehow. It's all going to work

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Speaker 3: out because a big girl's salary, like your full time salary,

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Speaker 3: it's going to be heaps of money. That'll be fine.

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Speaker 2: And it was for my impulse spending and shopping and

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Speaker 2: convenient time. It was great. It's fantastic. But my husband

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Speaker 2: is much the same. Unfortunately, he's pretty textbook ADHD and

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Speaker 2: he's very spendy. So we had a great time together.

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Speaker 3: Oh good, Well, at least you had someone to enjoy

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Speaker 3: it with, you know, yeah yeah, shared hobbies and all that.

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Speaker 2: So it got to the point in twenty eighteen my

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Speaker 2: husband was still at UNI and I was working full time,

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Speaker 2: and we bought our first home together, which was great.

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Speaker 2: Despite having tried to save up a house deposit. We

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Speaker 2: really had very minimal savings. We were just lucky that

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Speaker 2: we came across this amazing mortgage broker who really knew

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Speaker 2: her stuff and was able to do all the things

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Speaker 2: to get us into our first home as quickly as possible,

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Speaker 2: which was amazing. But again I didn't really learn a

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Speaker 2: lesson from that, did I. And I think in hindsight,

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Speaker 2: we did make a good choice in the fact that

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Speaker 2: back then the interest rates were really low and the

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Speaker 2: bank was willing to offer us quite a bit more

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Speaker 2: than what we took, so we were very cautious and

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Speaker 2: took well under what they offered us.

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Speaker 3: Okay, so she had some level of financial literacy, yeah,

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Speaker 3: but more like a gut feeling, more like I feel

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Speaker 3: like that might be biting off more than we can choot.

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Speaker 3: Were you in personal debt at that point? Like, at

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Speaker 3: what point did the sixty thousand dollars kicking? Because I

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Speaker 3: not yet. I was about to say, you can't have

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Speaker 3: been in personal debt to the amount of sixty grand

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Speaker 3: and get a mortgage.

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Speaker 2: No, no, no, this is where we head downhill a bit.

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Speaker 2: So I was just lucky that I earned enough to

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Speaker 2: get by. So No, in hindsight, I'm glad we borrowed

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Speaker 2: a lot less because when the interest rates rose, we

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Speaker 2: would have been in a fair bit of trouble because

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Speaker 2: it's at this point that my financial decisions got much worse.

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Speaker 2: So we had the house, and then I decided that

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Speaker 2: I absolutely needed a new car.

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Speaker 3: Oh yeah, well, I mean new house, new car. It

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Speaker 3: just makes sense, makes sense. You're an adult now, you've

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Speaker 3: got a mortgage. Yeah, I'll help you justify any bad

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Speaker 3: money decision, honestly, Like, I'm very much adoer as I say,

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Speaker 3: not as I do. You're not asking me for advice

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Speaker 3: right now, so I'll just help you validate that, because

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Speaker 3: that's exactly what I used to be.

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Speaker 1: Like.

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Speaker 3: Is it a good idea? Absolutely not, but you know

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Speaker 3: what in our brains, like, I get it, Queen, I

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Speaker 3: did the same thing.

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Speaker 2: Absolute girls girl, Thank you, Victoria.

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Speaker 3: Yes, so got the new car.

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Speaker 2: So twenty four thousand dollars on a car that I

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Speaker 2: didn't need. And then me and my husband, well fiance

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Speaker 2: at the time, decided to plan our wedding and that

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Speaker 2: seemed like a really big financial goal. Again, I didn't

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Speaker 2: know how to save, so I thought I would do

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Speaker 2: what everyone else seems to do. And I applied for

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Speaker 2: a credit card.

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Speaker 3: Perfect.

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Speaker 2: Perfect. I didn't know anything about credit cards. I knew

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Speaker 2: they were vaguely bad. My parents never had them growing up,

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Speaker 2: but all my friends had them. They didn't really talk

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Speaker 2: about what their limits were or how they used them.

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Speaker 2: I just knew that they had them, so I thought

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Speaker 2: it couldn't be that bad. So I applied for a

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Speaker 2: credit card, again not knowing anything. When you apply, there

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Speaker 2: were two boxes that you could have checked. One was

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Speaker 2: to set a limit for your credit card, and the

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Speaker 2: other was to let the bank assess and decide on

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Speaker 2: the limit. And so I just ticked that one, not

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Speaker 2: thinking much about it. And I think I very naively

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Speaker 2: thought the bank would have my best interests at heart

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Speaker 2: and they would never lend me money that I couldn't handle.

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Speaker 3: No, why would they do that. That would be irresponsible lending.

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Speaker 2: Yeah. Never. And this just before all the Royal Commission stuff.

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Speaker 2: So the whole process of getting that credit card was

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Speaker 2: alarmingly easy. And it came in the mail a few

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Speaker 2: weeks later with a thirty thousand dollar limit on it.

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Speaker 3: Oh money, whim like, look how good that is? You

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Speaker 3: probably went, Wow, that's so nice that's so helpful. This

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Speaker 3: is going to be perfect for our wedding.

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Speaker 2: I literally did that. I like, it's so terrifying to

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Speaker 2: me how little I understood when I saw that. I

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Speaker 2: actually thought it was so awesome. I was like, look,

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Speaker 2: how good the bank thinks I am at money. That's incredible.

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Speaker 2: And I just went a bit mad with my credit card.

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Speaker 2: So I ended up putting an entire wedding on a

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Speaker 2: credit card. And our wedding was overseas, so we did

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Speaker 2: six weeks of travel, so that went on there too,

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Speaker 2: did some stuff for the house, and very very easily

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Speaker 2: and quickly maxed out that limit.

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Speaker 3: Oh good, So where were we shopping? Like I need

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Speaker 3: to know, like, if you're going to tell me that

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Speaker 3: we've got thirty thousand dollars worth of personal credit, wheen

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Speaker 3: didn't we go?

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Speaker 2: Like?

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Speaker 3: Were we shopping at Ikea? Were we? Because I feel

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Speaker 3: like the second you have a thirty thousand dollars limit,

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Speaker 3: you're like, Juna, what we should actually get quality items

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Speaker 3: because this is our first home. You did that, didn't

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Speaker 3: you a little bit?

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Speaker 2: I definitely had a very luxury holiday for six weeks

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Speaker 2: all my wedding, so that was good. But yeah, I

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Speaker 2: did buy things I wouldn't have bought normally because I

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Speaker 2: was just happy to tap that and didn't feel like

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Speaker 2: my money. And the scary thing was I knew so

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Speaker 2: little about money it didn't even stress me out. Like

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Speaker 2: if someone handed me that credit card now with that

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Speaker 2: limit on it, I would be sweating, like absolutely not.

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Speaker 2: But at the time, I just I just went for

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Speaker 2: it because I thought that was normal because all my

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Speaker 2: friends had credit cards and I assumed that's probably what

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Speaker 2: they were working with too. For then after that, I

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Speaker 2: did some house reno stuff and we got solar panels

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Speaker 2: which they let me put on like an after pay

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Speaker 2: platform for ten thousand dollars.

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Speaker 3: How good. You didn't even need to use a credit

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Speaker 3: card for that one. So great. Yeah, so we can

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Speaker 3: just add that on the side. Now at forty.

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Speaker 2: Thirty thousand plus twenty four thousand plus a ten thousand,

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Speaker 2: so up to sixty four thousand.

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Speaker 3: You know what, why stop there? Why did you stop there? Crazy?

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Speaker 2: Crazy? Yeah, So at this point my debt repayments were

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Speaker 2: pretty hefty.

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Speaker 3: Was this a conversation that you were having with your husband?

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Speaker 3: So you've got this credit card and like we're setting

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Speaker 3: up the house, how involved. Was your at the time

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Speaker 3: fiance slash husband in these conversations. Was he aware of

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Speaker 3: the debt, how did he feel about it? Or were

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Speaker 3: you just both two pieces in a pod and you

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Speaker 3: were like, let's just set up our lives.

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Speaker 2: This is great, just two pieces in a pod.

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Speaker 3: Really. Yeah, it happens that way, doesn't it. Yeah.

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Speaker 2: Again, I'm looking back, I am so alarmed and stressed

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Speaker 2: out by at how little we were bothered by it.

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Speaker 2: It just seemed very normal and okay, but.

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Speaker 3: You don't know what you don't know like, and you

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Speaker 3: don't know what's coming either. And I'm about to probably

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Speaker 3: hear that there was a chaos moment or a come

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Speaker 3: to Jesus moment, or like a moment where you're like, actually,

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Speaker 3: what the hell have we done? Oh?

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Speaker 2: Yes, yes, it came in a big way. So I

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Speaker 2: had my first child, my son, in twenty twenty one,

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Speaker 2: and a really big value of mine is that I

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Speaker 2: wanted to be home with him for at least the

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Speaker 2: first twelve months, and I had these visions of, you know,

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Speaker 2: just being at home with him and having great time

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Speaker 2: and not spending any money because we'll just hang out

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Speaker 2: at home. Again. So naive, I think you think matt

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Speaker 2: leave is going to be one thing, and then actually

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Speaker 2: it turns out that maternity leave just really magnifies any

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Speaker 2: tendencies or habits that you already have just so much

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Speaker 2: more Like, I love my son so much, but he

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Speaker 2: looking back, I understand he was not an easy baby.

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Speaker 2: He cried a lot, He needed to be held by

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Speaker 2: only me twenty four to seven. He didn't sleep. I

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Speaker 2: wanted to be out of the house all the time.

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Speaker 2: I went shopping all the time. I needed coffee dates

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Speaker 2: for my mental health.

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Speaker 3: You know, oh, I know, I at thousand percent agree

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Speaker 3: with those coffee dates. I think that those are a

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Speaker 3: mental health investment.

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Speaker 2: You just need to So I can't even be mad

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Speaker 2: at myself because there's no way I could have stayed

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Speaker 2: at home with this child who only stopped screaming when

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Speaker 2: we were walking around a shopping center. And it's really

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Speaker 2: easy to justify buying things for your children.

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Speaker 3: Oh, don't even I thought I was the Do you

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Speaker 3: know who I was before I had a baby. I

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Speaker 3: was the perfect parent. I was the perfect parent before

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Speaker 3: I became a parent. And I was like, no, I'm

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Speaker 3: not going to spoil my child with too many things.

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Speaker 3: I'm not going to like spend more than necessary. And

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Speaker 3: then Harvey points at one thing and I'm like, oh,

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Speaker 3: it's all yours, bab, you can have it. Yep, worries,

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Speaker 3: Well am I becoming I'm teaching him nothing.

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Speaker 2: I'm the exact same and again, perfect parent beforehand. And

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Speaker 2: then oh yeah, I just I blew through our money

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Speaker 2: so fast, so fast, so I had to return to

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Speaker 2: work much earlier than I ever wanted to, which was

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Speaker 2: devastating for me. And I sort of looked at my

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Speaker 2: son and I thought, I have no money, and I

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Speaker 2: can't give you the childhood that my parents gave me,

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Speaker 2: where they could let me do anything I wanted to

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Speaker 2: do or be I wanted to be. Because I just

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Speaker 2: don't have the money, then I don't have the freedom

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Speaker 2: to do that. And that was really shocking to me.

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Speaker 2: And that's not the life that I wanted for him.

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Speaker 2: And I also looked around at all my friends who

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Speaker 2: were achieving these big life goals and that seems so

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Speaker 2: unachievable to me too. And I'm very lucky I've managed

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Speaker 2: to surround myself with amazing women, Like they're so smart,

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Speaker 2: they're so empowered, and they're so driven and they're doing

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Speaker 2: all these really cool things. So I sort of asked them.

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Speaker 2: I was like, how are you doing this? And my

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Speaker 2: friend's really good at money, so she put me onto

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Speaker 2: She's on the money.

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Speaker 3: Oh really, is that where it started? Yes, it is.

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Speaker 2: I'm not your typical barefoot investor into other things. I

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Speaker 2: went straight to you, guys.

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Speaker 3: I feel like lots of people went barefoot and then

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Speaker 3: straight into this, or they were introduced by a friend.

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Speaker 3: Like complete side note, but I often so in our

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Speaker 3: Facebook group when people join, I can see how they've joined,

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Speaker 3: and I'll see their application and it will say like

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Speaker 3: their email or whatever, and like I still go through

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Speaker 3: it and often says referred by, and it'll say like

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Speaker 3: someone else has been int like your friend invited you

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Speaker 3: to the group and then you like popp your email

348
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Speaker 3: in and you're waiting for access. And I'm like, it's

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Speaker 3: literally the cutest part of it, because I'm like, it's

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Speaker 3: not just you've looked it up and you've come to

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Speaker 3: find sheese on the money. It's like one of your

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00:17:18,359 --> 00:17:20,200
Speaker 3: mates has been join this here. I'll just send it

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Speaker 3: to you and then that it tells me, which is

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Speaker 3: so cute. But I would say most people join our

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Speaker 3: group because a friend has been like, have you seen

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Speaker 3: this group? Do you want to do money with me?

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Speaker 2: That is so cool. That must be so exciting for

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Speaker 2: you to see this little like empire that you've built.

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Speaker 3: It's the coolest thing ever.

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Speaker 2: I'm like such a convert as well. I know I've

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Speaker 2: done the same to friends. I'm like, you need to

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Speaker 2: get on this. So yeah, I'm like Sad spreading the

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Speaker 2: word of Victoria.

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Speaker 3: Spreading the good word. I love this And one day,

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Speaker 3: when I work out how to make it a proper cult,

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Speaker 3: I'll let you know. But till then, we'll just work

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Speaker 3: on our financial literacy. Yeah, but yeah, no.

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Speaker 2: So I just obsessively consumed all of the podcasts from

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Speaker 2: the very beginning. The books did all that, and I

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Speaker 2: started just putting all your tips into practice, and it

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Speaker 2: was so like liberating, so eye opening. I always had

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Speaker 2: thought I was bad at money, but I'm not bad

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Speaker 2: at money. I just didn't know. It's like I don't

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Speaker 2: know how to fly a plane. I would never tell

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Speaker 2: someone I'm bad at flying a plane. I would say

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Speaker 2: I actually don't know how to do that. So I

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Speaker 2: don't know why I'm so hard on myself about money,

378
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Speaker 2: because I'm not bad at money, I just didn't know exactly.

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Speaker 3: And for those of you listening along, please skip back

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Speaker 3: fifteen seconds and then listen to that again, because that

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Speaker 3: is exactly what I'm trying to teach you. And it's

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Speaker 3: kind of like, why are we crucifying our past selves?

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Speaker 3: Like you're in sixty four thousand dollars worth of debt.

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Speaker 3: I didn't get close to that. I got forty, So like,

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Speaker 3: you've blown me out of the water, queen, but by cheap. Yeah,

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Speaker 3: I can tell. I really respect that about you. But

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Speaker 3: when you look at it, it's like, well, why would

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Speaker 3: I crucify her? Like she was trying to do the

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Speaker 3: best thing at the time, and yes it wasn't the

390
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Speaker 3: right thing, but she didn't have the tools and resources

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Speaker 3: that I have now. And anytime spent feeling guilty or

392
00:19:06,080 --> 00:19:08,440
Speaker 3: feeling like crap about these things that we do is

393
00:19:08,560 --> 00:19:12,760
Speaker 3: literally wasted. So that why bother ruminating on something like

394
00:19:12,880 --> 00:19:15,200
Speaker 3: that when we can go, wow, I know better, and

395
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Speaker 3: when you know better, you can do better and that's

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Speaker 3: pretty cool.

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Speaker 2: Absolutely. Yeah, So it was life changing, honestly, So thank you,

398
00:19:22,560 --> 00:19:25,760
Speaker 2: welcome to the family. But yeah, so at that point

399
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Speaker 2: I hustled, and I hustled hard. I did anything I

400
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Speaker 2: could to increase my income. So I returned to work

401
00:19:33,600 --> 00:19:35,760
Speaker 2: and I got a promotion at work to earn more money.

402
00:19:36,400 --> 00:19:40,280
Speaker 2: I got another role sort of adjacent to my current

403
00:19:40,400 --> 00:19:43,520
Speaker 2: role that I'm bringing more money and also increase my

404
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Speaker 2: career progression pathway. I picked up other casual work, so

405
00:19:48,720 --> 00:19:52,560
Speaker 2: casual like academic work at the university. I opened my

406
00:19:52,600 --> 00:19:54,720
Speaker 2: own private practice so I could earn more money on

407
00:19:54,800 --> 00:19:57,440
Speaker 2: the day off and on my weekend. Winded up working

408
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Speaker 2: six days a week, which was lot with a young

409
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Speaker 2: child at home.

410
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Speaker 3: That's chaos. And so did you take that twelve months

411
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Speaker 3: of leave or was your maternity leave cut short because

412
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Speaker 3: of the dimas.

413
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Speaker 2: Cut short because I needed to earn some money.

414
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Speaker 3: To get stuff done. You're like, hold on, hold on,

415
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Speaker 3: hold on to give my child the best possible life,

416
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Speaker 3: it doesn't necessarily mean I have to be home for

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Speaker 3: twelve months exactly.

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Speaker 2: And like with all those debt repayments, I just had to,

419
00:20:24,440 --> 00:20:27,320
Speaker 2: like there was no other way forward. Really, I couldn't

420
00:20:27,359 --> 00:20:29,960
Speaker 2: budget my way out of that. And then in my

421
00:20:30,040 --> 00:20:32,840
Speaker 2: spare time, I started doing things like any spad minute

422
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Speaker 2: I had, I was doing online surveys.

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Speaker 3: My she's a real convert. I love this.

424
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Speaker 2: I was doing transcriptions and things that you could listen

425
00:20:42,280 --> 00:20:45,159
Speaker 2: to and type away what that was, and like everything

426
00:20:45,200 --> 00:20:47,440
Speaker 2: through shot back, so any dollars I could squeeze, and

427
00:20:47,600 --> 00:20:51,320
Speaker 2: everything was just going straight into debt repayments, and I

428
00:20:51,440 --> 00:20:55,280
Speaker 2: was able to smash down that debt probably within twelve

429
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Speaker 2: months or so.

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Speaker 3: I'm so proud of you. I am so excited. That

431
00:21:01,280 --> 00:21:02,160
Speaker 3: is so cool.

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Speaker 2: Yeah, it was. It was really cool to see that,

433
00:21:05,960 --> 00:21:07,960
Speaker 2: like the power of small things. In the past, I

434
00:21:08,040 --> 00:21:10,320
Speaker 2: thought I could there's no point saving a dollar or

435
00:21:10,320 --> 00:21:12,800
Speaker 2: two here and there, And look what it did. It

436
00:21:12,920 --> 00:21:16,240
Speaker 2: all sort of snowballed and cleared my death that she

437
00:21:16,320 --> 00:21:18,800
Speaker 2: was amazing. And then through that it's almost like I

438
00:21:18,920 --> 00:21:21,040
Speaker 2: was forced to learn how to save. So I was

439
00:21:21,119 --> 00:21:23,200
Speaker 2: really careful that once the debt was cleared, I was

440
00:21:23,240 --> 00:21:27,280
Speaker 2: putting all of that into savings to grow. And it grew,

441
00:21:27,600 --> 00:21:30,080
Speaker 2: and I got to the point where I had my

442
00:21:30,200 --> 00:21:32,600
Speaker 2: own personal emergency fund. I had set one up for

443
00:21:32,680 --> 00:21:37,200
Speaker 2: our family. We had a decent amount of savings, and

444
00:21:37,400 --> 00:21:39,280
Speaker 2: it got to the point where we could start investing too,

445
00:21:39,520 --> 00:21:45,040
Speaker 2: So we started investing in shares. We leveraged some equity

446
00:21:45,080 --> 00:21:47,200
Speaker 2: in our house and got an investment property.

447
00:21:47,440 --> 00:21:50,800
Speaker 3: Who are you? I know? Past? You was like, I

448
00:21:50,880 --> 00:21:52,560
Speaker 3: don't know her, I've never met her.

449
00:21:53,680 --> 00:21:56,000
Speaker 2: I just never thought that would be possible. And that's

450
00:21:56,040 --> 00:22:00,960
Speaker 2: all just been since twenty twenty one, you know, after two?

451
00:22:01,240 --> 00:22:04,840
Speaker 3: Can I be really pervy and ask how was your

452
00:22:04,880 --> 00:22:07,879
Speaker 3: relationship with your husband during this journey? Because you mentioned

453
00:22:08,000 --> 00:22:11,159
Speaker 3: before he's like as impulsive as you were, Like you

454
00:22:11,280 --> 00:22:13,639
Speaker 3: both had the same spending habits, and he's a bit

455
00:22:13,720 --> 00:22:16,880
Speaker 3: adhd from what you've said. That can be a really

456
00:22:16,960 --> 00:22:19,600
Speaker 3: confronting conversation to have when one of you has kind

457
00:22:19,640 --> 00:22:22,080
Speaker 3: of like gone down the money rabbit hole, but maybe

458
00:22:22,119 --> 00:22:24,080
Speaker 3: the other's not ready to join or like, this is

459
00:22:24,080 --> 00:22:27,240
Speaker 3: a confronting conversation because it can be really challenging to

460
00:22:27,320 --> 00:22:30,600
Speaker 3: be like, hey, husband, so we're actually not doing as

461
00:22:30,640 --> 00:22:32,320
Speaker 3: well as we thought we were. It can feel like

462
00:22:32,320 --> 00:22:34,119
Speaker 3: a personal attack. How did that go?

463
00:22:35,760 --> 00:22:37,399
Speaker 2: I actually laughed because when I told him I was

464
00:22:37,440 --> 00:22:39,400
Speaker 2: doing this, he groaned and was like, oh, no, you're

465
00:22:39,400 --> 00:22:41,040
Speaker 2: gonna say I'm your worst money habit.

466
00:22:41,600 --> 00:22:45,080
Speaker 3: But he's not no king, no king, we know we

467
00:22:45,160 --> 00:22:45,960
Speaker 3: won't say that though.

468
00:22:45,960 --> 00:22:49,639
Speaker 2: It's all rude, No he's so open to talk about

469
00:22:49,680 --> 00:22:52,040
Speaker 2: these things. And I think we've never shied away from

470
00:22:52,119 --> 00:22:54,800
Speaker 2: money talk or how any stress about it. Like I said,

471
00:22:55,119 --> 00:22:58,120
Speaker 2: I've sort of inherited that from my parents, that abundance mindset,

472
00:22:58,240 --> 00:23:00,440
Speaker 2: And even though we were in this tricky place, it

473
00:23:00,680 --> 00:23:05,440
Speaker 2: wasn't that stressful because I could see possibility in it too,

474
00:23:06,320 --> 00:23:08,040
Speaker 2: And so me and my husband are really opened to

475
00:23:08,119 --> 00:23:10,280
Speaker 2: talking about these things, and we set up our money

476
00:23:10,359 --> 00:23:12,280
Speaker 2: dates and we did all that, and we still do

477
00:23:12,440 --> 00:23:15,520
Speaker 2: that just to realign because sometimes, like I said, he

478
00:23:15,640 --> 00:23:18,560
Speaker 2: is a bit spendye and he line if he don't

479
00:23:18,720 --> 00:23:20,760
Speaker 2: ever think to check the bank account, which is tap

480
00:23:20,800 --> 00:23:24,159
Speaker 2: away and have fun. And he's very open for us

481
00:23:24,200 --> 00:23:27,720
Speaker 2: to sort of readjust and realign and recalibrate what we're

482
00:23:27,760 --> 00:23:29,800
Speaker 2: doing with our money, just as a little check in.

483
00:23:30,240 --> 00:23:32,280
Speaker 2: So yeah, it was never a strain on a relationship,

484
00:23:32,320 --> 00:23:34,640
Speaker 2: which I think. I'm just so lucky to have him

485
00:23:34,920 --> 00:23:38,359
Speaker 2: be as supportive as he is. And he saw that

486
00:23:38,440 --> 00:23:40,240
Speaker 2: I was on my way with this thing and he

487
00:23:40,320 --> 00:23:42,080
Speaker 2: sort of just handed over the reins and he's like,

488
00:23:43,000 --> 00:23:44,720
Speaker 2: you get it, get it clean, do it.

489
00:23:44,920 --> 00:23:47,680
Speaker 3: I love that because sometimes you hear, oh, yeah, I

490
00:23:47,800 --> 00:23:50,440
Speaker 3: was hustling really hard, and my partner really wasn't on board,

491
00:23:50,480 --> 00:23:52,320
Speaker 3: so he was still spending. Well, I'm like trying to

492
00:23:52,400 --> 00:23:55,080
Speaker 3: get ahead, and that can create massive amounts of friction.

493
00:23:55,400 --> 00:23:57,919
Speaker 3: Like the number one reason people get divorced is because

494
00:23:57,920 --> 00:24:00,960
Speaker 3: of money, and that doesn't mean that was your reality.

495
00:24:01,040 --> 00:24:03,000
Speaker 3: But I was like, let's just bring this up because

496
00:24:03,400 --> 00:24:06,119
Speaker 3: it is so refreshing to hear. No, my husband was

497
00:24:06,200 --> 00:24:08,679
Speaker 3: so about it doesn't mean he has to change who

498
00:24:08,800 --> 00:24:10,760
Speaker 3: he is. He just has to be open to the

499
00:24:10,800 --> 00:24:13,320
Speaker 3: conversations and well, what are we going to do to

500
00:24:13,359 --> 00:24:15,320
Speaker 3: put ourselves in a better position. And I'm assuming he

501
00:24:15,359 --> 00:24:17,280
Speaker 3: wants the best for your kids as well, so like,

502
00:24:17,560 --> 00:24:19,520
Speaker 3: good deal, Yeah he does.

503
00:24:20,680 --> 00:24:22,680
Speaker 2: Now I'm very lucky to have him. I think he's

504
00:24:23,000 --> 00:24:26,119
Speaker 2: pretty a pretty rare breed in terms of how supportive

505
00:24:26,160 --> 00:24:29,960
Speaker 2: he is of me and our family. So very lucky.

506
00:24:30,200 --> 00:24:32,200
Speaker 2: So I knew our next goal was we wanted to

507
00:24:32,240 --> 00:24:34,040
Speaker 2: grow our family, and we were in a really good

508
00:24:34,080 --> 00:24:37,040
Speaker 2: financial position to do that. And I knew this time around,

509
00:24:37,119 --> 00:24:39,159
Speaker 2: I was going to reach my goal. I wasn't just

510
00:24:39,200 --> 00:24:41,120
Speaker 2: going to have twelve months off of my next mat leave.

511
00:24:41,160 --> 00:24:43,200
Speaker 2: I was going to take the full two years I

512
00:24:43,440 --> 00:24:48,760
Speaker 2: can't which was very exciting. But so my daughter arrived

513
00:24:49,080 --> 00:24:53,160
Speaker 2: in twenty twenty four. Yeah, and at that same time, actually,

514
00:24:53,240 --> 00:24:57,200
Speaker 2: my husband was offered this new role and I sat

515
00:24:57,240 --> 00:24:59,800
Speaker 2: down and did the numbers, and I realized if he

516
00:25:00,040 --> 00:25:03,080
Speaker 2: took this role, the increase in his salary would actually

517
00:25:03,119 --> 00:25:06,520
Speaker 2: offset my reduction in salary over my map.

518
00:25:06,840 --> 00:25:08,600
Speaker 3: How good, yep, yep.

519
00:25:08,680 --> 00:25:11,720
Speaker 2: So I could use half pay to get us through

520
00:25:11,800 --> 00:25:13,320
Speaker 2: most of the way in our savings and it would

521
00:25:13,320 --> 00:25:15,920
Speaker 2: be covered and we wouldn't have any change to our lifestyle.

522
00:25:16,880 --> 00:25:18,960
Speaker 2: The catch was that his new job was in a

523
00:25:19,040 --> 00:25:21,840
Speaker 2: rural town. We live in a major city, so it

524
00:25:21,960 --> 00:25:26,320
Speaker 2: was a big lifestyle change. And I realized that that

525
00:25:26,400 --> 00:25:28,240
Speaker 2: meant we could also rent our house out in the

526
00:25:28,320 --> 00:25:32,119
Speaker 2: city for an additional income stream you could, which seemed

527
00:25:32,280 --> 00:25:35,800
Speaker 2: very clever to me, and so we decided to go

528
00:25:35,960 --> 00:25:38,800
Speaker 2: for it. And the great thing is we hadn't even

529
00:25:38,920 --> 00:25:42,880
Speaker 2: accounted for our cost of living in a rural town

530
00:25:43,000 --> 00:25:43,879
Speaker 2: is so much lower.

531
00:25:44,280 --> 00:25:44,480
Speaker 3: Yep.

532
00:25:44,600 --> 00:25:48,000
Speaker 2: Absolutely, we're living teacher housing, so our rent is one

533
00:25:48,119 --> 00:25:52,200
Speaker 2: hundred and forty dollars a week. Stop it. We don't

534
00:25:52,240 --> 00:25:54,800
Speaker 2: pay for some of our bills, and there's no shopping

535
00:25:54,880 --> 00:25:57,840
Speaker 2: center here, there's no Uber eats. There's nothing. You know,

536
00:25:58,000 --> 00:26:00,520
Speaker 2: our days consist of playing at the path, going for

537
00:26:00,640 --> 00:26:05,000
Speaker 2: walks and splashing in the river. And that is so.

538
00:26:05,280 --> 00:26:08,639
Speaker 3: And at that point in time, I'm just assuming some

539
00:26:08,800 --> 00:26:11,160
Speaker 3: of these things, so please correct me. But like you've

540
00:26:11,200 --> 00:26:13,600
Speaker 3: got a three year old at that point and a newborn,

541
00:26:13,640 --> 00:26:17,040
Speaker 3: you're kind of like, well, it's about quality time anyway,

542
00:26:17,440 --> 00:26:20,200
Speaker 3: Like we can spend all of this time together and

543
00:26:20,480 --> 00:26:22,680
Speaker 3: my husband's going to be making way more money and

544
00:26:22,920 --> 00:26:25,720
Speaker 3: we'll be more financially secure. Like that's a win for everybody.

545
00:26:25,920 --> 00:26:27,760
Speaker 2: It was amazing. It came at the best time, and

546
00:26:27,840 --> 00:26:30,719
Speaker 2: we realized if we did this yet, it's such a magical,

547
00:26:30,800 --> 00:26:33,879
Speaker 2: idyllic season with the children in slow paced life, that

548
00:26:33,960 --> 00:26:36,359
Speaker 2: we would actually come back to the city and be

549
00:26:37,440 --> 00:26:40,399
Speaker 2: in a better financial situation and we could actually make

550
00:26:40,440 --> 00:26:43,080
Speaker 2: it into our forever home. Like I said, we bought

551
00:26:43,119 --> 00:26:45,560
Speaker 2: our first home. My husband was still a student. We're

552
00:26:45,640 --> 00:26:48,960
Speaker 2: out growing it pretty fast, so we took the leap,

553
00:26:49,040 --> 00:26:51,399
Speaker 2: and when my daughter was eight weeks old, we moved

554
00:26:51,680 --> 00:26:52,640
Speaker 2: to a rural town.

555
00:26:53,200 --> 00:26:57,800
Speaker 3: Perfect no, no, I know what's coming now, and tell me.

556
00:26:58,320 --> 00:27:00,240
Speaker 2: So she was ten weeks old when we start to

557
00:27:00,320 --> 00:27:03,840
Speaker 2: have some issues and we just moved six hours away

558
00:27:03,880 --> 00:27:08,400
Speaker 2: from health service, and she had these episodes which looked

559
00:27:08,520 --> 00:27:13,720
Speaker 2: like seizures. And she had some developmental issues, so she

560
00:27:14,119 --> 00:27:16,920
Speaker 2: had low muscle tone, she was very floppy and very sleepy.

561
00:27:17,680 --> 00:27:21,280
Speaker 2: She had problems with her eyes, she wasn't interactive, she

562
00:27:21,359 --> 00:27:26,080
Speaker 2: didn't smile, and it turns out she was actually classed

563
00:27:26,119 --> 00:27:28,920
Speaker 2: as a high risk for cerebral palsy. So she's got

564
00:27:29,480 --> 00:27:34,200
Speaker 2: muscle tone issues, she has vision difficulties, and a few

565
00:27:34,200 --> 00:27:36,200
Speaker 2: months later, when we started solids, it turns out she

566
00:27:36,280 --> 00:27:38,600
Speaker 2: also had several severe food allergies.

567
00:27:38,920 --> 00:27:40,040
Speaker 3: Oh no, that's same.

568
00:27:40,080 --> 00:27:40,440
Speaker 2: Do you do what?

569
00:27:40,480 --> 00:27:42,280
Speaker 3: You didn't deserve that? On top of all of these.

570
00:27:42,920 --> 00:27:45,359
Speaker 2: It was a lot. So we spent a lot of

571
00:27:45,480 --> 00:27:48,440
Speaker 2: time having to travel between our small town and our

572
00:27:48,960 --> 00:27:54,640
Speaker 2: major city six hours away for all of her appointments pediatrician, allogist, ophthalmologist,

573
00:27:54,760 --> 00:27:59,520
Speaker 2: physioot dietitian, and we had applied for NDAs, but there

574
00:27:59,640 --> 00:28:02,560
Speaker 2: was a so it took over twelve months to receive

575
00:28:02,600 --> 00:28:05,720
Speaker 2: a package for her. So everything we had to do

576
00:28:05,880 --> 00:28:08,560
Speaker 2: for her, all her therapies, all her you know, any

577
00:28:08,560 --> 00:28:11,480
Speaker 2: equipment she needed, paid for out of pocket.

578
00:28:11,720 --> 00:28:14,919
Speaker 3: Yeah, and at that point they're always saying the earlier

579
00:28:14,960 --> 00:28:17,200
Speaker 3: the intervention, the better, Like you need to get on this,

580
00:28:17,440 --> 00:28:20,600
Speaker 3: like we cannot wait. And so you, as a parent,

581
00:28:20,640 --> 00:28:22,159
Speaker 3: you're like, great, well, I'm just going to have to

582
00:28:22,240 --> 00:28:24,520
Speaker 3: fund this. I can't wait until funding comes in or

583
00:28:25,080 --> 00:28:27,480
Speaker 3: when the NDIS is ready for this, like because the

584
00:28:27,560 --> 00:28:30,680
Speaker 3: earlier the intervention, the better the outcomes. So what else

585
00:28:30,720 --> 00:28:31,440
Speaker 3: are you meant to do?

586
00:28:32,080 --> 00:28:34,040
Speaker 2: Absolutely, And like I said, it was just such a

587
00:28:34,119 --> 00:28:36,159
Speaker 2: privilege to have that money sitting there, and so I

588
00:28:36,200 --> 00:28:39,520
Speaker 2: could give that to her and give her those crucial

589
00:28:39,600 --> 00:28:42,760
Speaker 2: first twelve months of early intervention. I just feel so

590
00:28:43,040 --> 00:28:46,040
Speaker 2: sad for parents that were at the mercy of NDIS

591
00:28:46,120 --> 00:28:49,160
Speaker 2: and had to wait, because I honestly don't know what

592
00:28:49,320 --> 00:28:51,280
Speaker 2: her life would be like now had we missed those

593
00:28:51,760 --> 00:28:55,440
Speaker 2: crucial months of early intervention. And she she's amazing. Now,

594
00:28:55,560 --> 00:28:58,320
Speaker 2: she's doing so great, to the point where she responded

595
00:28:58,360 --> 00:29:00,440
Speaker 2: so well to her therapies they took her off the

596
00:29:00,640 --> 00:29:04,000
Speaker 2: at risk category and now she's just being monitored.

597
00:29:04,080 --> 00:29:06,960
Speaker 3: But for now she's so she doesn't have CP. Like

598
00:29:07,200 --> 00:29:10,880
Speaker 3: we're just hanging out. She was just joking, she was

599
00:29:11,040 --> 00:29:13,040
Speaker 3: just having a little bit of a drama time.

600
00:29:13,960 --> 00:29:16,640
Speaker 2: Yeah, yeah, So I just feel so lucky because my

601
00:29:16,880 --> 00:29:19,840
Speaker 2: therapist had explained to me that those children who don't

602
00:29:19,880 --> 00:29:22,640
Speaker 2: get the early intervention can get much worse over time,

603
00:29:22,680 --> 00:29:25,480
Speaker 2: whereas if you get in early sort of rewire the

604
00:29:25,560 --> 00:29:28,880
Speaker 2: pathways to the brain, it sort of overcomes that difficulty.

605
00:29:29,080 --> 00:29:31,200
Speaker 2: So yeah, I'm just so grateful.

606
00:29:31,360 --> 00:29:34,560
Speaker 3: Oh a little icon. I'm so happy. I was like,

607
00:29:34,720 --> 00:29:38,600
Speaker 3: where's this gonna go? Like, you know so hard?

608
00:29:38,720 --> 00:29:39,440
Speaker 2: She's incredible.

609
00:29:39,760 --> 00:29:42,160
Speaker 3: Oh I love that for you guys. That makes me

610
00:29:42,480 --> 00:29:46,120
Speaker 3: so so happy. And so now you guys are back

611
00:29:46,240 --> 00:29:48,800
Speaker 3: to not square one because like we have a heap

612
00:29:48,880 --> 00:29:52,440
Speaker 3: more financial literacy. But tell me about where that emergency

613
00:29:52,560 --> 00:29:55,920
Speaker 3: fund is and how you're getting your finances under control again.

614
00:29:56,120 --> 00:29:58,600
Speaker 2: So yeah, I had to think of how to get

615
00:29:58,600 --> 00:30:01,640
Speaker 2: an income. We weren't finished with living in our rural town.

616
00:30:01,720 --> 00:30:03,800
Speaker 2: We do love it here, and I can't do my

617
00:30:03,920 --> 00:30:05,920
Speaker 2: job here. I need to be in a major city

618
00:30:06,000 --> 00:30:09,440
Speaker 2: to do my job. So I got a bit creative

619
00:30:09,720 --> 00:30:11,280
Speaker 2: with what to do because I didn't want to have

620
00:30:11,360 --> 00:30:13,520
Speaker 2: to put my children in care and spend money on

621
00:30:13,600 --> 00:30:16,200
Speaker 2: childcare and then work. So I wanted to do something

622
00:30:16,200 --> 00:30:18,040
Speaker 2: I could do from home, and that's when I joined

623
00:30:18,040 --> 00:30:20,600
Speaker 2: in mlam I don't think.

624
00:30:21,080 --> 00:30:24,080
Speaker 3: Oh my gosh, I was like, this is going to

625
00:30:24,120 --> 00:30:30,440
Speaker 3: be so good. Sorry, how dare you like tempt me

626
00:30:30,560 --> 00:30:32,560
Speaker 3: with a good time? I know.

627
00:30:32,720 --> 00:30:36,600
Speaker 2: Sorry. I've always wanted to be a teacher actually growing

628
00:30:36,720 --> 00:30:40,280
Speaker 2: up and in my career I sort of gravitate towards

629
00:30:40,360 --> 00:30:43,320
Speaker 2: teaching and training. And at the minute, there's a teacher shortage,

630
00:30:43,360 --> 00:30:45,280
Speaker 2: so the government is pouring a lot of money into

631
00:30:45,400 --> 00:30:49,720
Speaker 2: getting people through a teaching qualification into the classroom. So

632
00:30:50,400 --> 00:30:53,480
Speaker 2: I started my Masters of Teaching and I applied for

633
00:30:53,920 --> 00:30:56,160
Speaker 2: all the scholarships, all the grants, all of that. So

634
00:30:56,280 --> 00:31:00,680
Speaker 2: I'm essentially getting paid to study now and I get

635
00:31:00,720 --> 00:31:02,360
Speaker 2: to stay home with my kids. I'm going to make

636
00:31:02,400 --> 00:31:04,080
Speaker 2: it through my two years of that leave and I

637
00:31:04,160 --> 00:31:06,120
Speaker 2: get a qualification at the end, and I just study

638
00:31:06,160 --> 00:31:09,840
Speaker 2: at night. And it's working really well. I'm enjoying it

639
00:31:10,040 --> 00:31:10,480
Speaker 2: so much.

640
00:31:10,880 --> 00:31:16,680
Speaker 3: Stop it, stop it, stop it. That is so strategic. Like, sorry,

641
00:31:16,760 --> 00:31:19,240
Speaker 3: and you said you were a bee. Sit down. I

642
00:31:19,360 --> 00:31:21,880
Speaker 3: haven't even finished asking you a questions.

643
00:31:21,560 --> 00:31:24,320
Speaker 2: I even thought about because of the hex and stuff

644
00:31:24,360 --> 00:31:27,800
Speaker 2: and the considerations. But the courses are heavily subsidized at

645
00:31:27,840 --> 00:31:30,720
Speaker 2: the minute, and like ticket to masters is really cheap. Yeah,

646
00:31:31,040 --> 00:31:32,840
Speaker 2: what a master's for what it is, which is my

647
00:31:33,000 --> 00:31:37,560
Speaker 2: previous master's course. And I knew my HEX reduction would

648
00:31:37,680 --> 00:31:39,400
Speaker 2: likely come in in the future, so it's going to

649
00:31:39,480 --> 00:31:41,120
Speaker 2: drop down any way. May as well just top it

650
00:31:41,240 --> 00:31:42,880
Speaker 2: up a little bit. I'll still be in a better

651
00:31:42,920 --> 00:31:46,280
Speaker 2: off HEX position, but with this additional qualification, and then

652
00:31:46,320 --> 00:31:48,600
Speaker 2: I end up in a career that has a lot

653
00:31:48,680 --> 00:31:52,080
Speaker 2: of career progression opportunity, and in future I get to

654
00:31:52,080 --> 00:31:54,480
Speaker 2: have school holidays with my children, which I'm obsessed with.

655
00:31:54,960 --> 00:31:55,480
Speaker 2: Stop it.

656
00:31:56,040 --> 00:31:59,120
Speaker 3: This is so exciting, and I just wish I could

657
00:31:59,160 --> 00:32:02,360
Speaker 3: go back to pre and like the day that you

658
00:32:02,440 --> 00:32:04,680
Speaker 3: got your thirty thousand dollar credit card and just be like, Hey,

659
00:32:04,760 --> 00:32:05,960
Speaker 3: did you know the one day you're going to be

660
00:32:06,040 --> 00:32:08,440
Speaker 3: like investing, you're going to move rurally, like you'll be

661
00:32:08,480 --> 00:32:11,000
Speaker 3: getting a second master's degree, and you're going to be

662
00:32:11,120 --> 00:32:13,600
Speaker 3: slaying at life. You'd be like, No, that's not my journey?

663
00:32:13,800 --> 00:32:14,240
Speaker 2: Who is she?

664
00:32:15,200 --> 00:32:15,680
Speaker 1: I love it.

665
00:32:15,840 --> 00:32:17,959
Speaker 2: Like you said, we are sort of starting from scratch,

666
00:32:18,040 --> 00:32:20,040
Speaker 2: but this time I know what I'm doing, so I

667
00:32:20,080 --> 00:32:23,360
Speaker 2: can see the pathway forward and it's not as overwhelming

668
00:32:23,400 --> 00:32:25,600
Speaker 2: as it was, and I know we'll get there. We've

669
00:32:25,640 --> 00:32:27,080
Speaker 2: just got to adjust some timelines.

670
00:32:27,280 --> 00:32:28,840
Speaker 3: I this is so iconic.

671
00:32:28,960 --> 00:32:29,360
Speaker 2: I love it.

672
00:32:29,480 --> 00:32:31,120
Speaker 3: So at the moment, you're not earning an income because

673
00:32:31,160 --> 00:32:34,240
Speaker 3: you're on your two years of maternity leave. What does

674
00:32:34,280 --> 00:32:36,480
Speaker 3: your husband do for work and how much does he earn?

675
00:32:37,080 --> 00:32:40,600
Speaker 2: So he is an assistant principle and he's on one

676
00:32:40,680 --> 00:32:42,120
Speaker 2: hundred and sixty thousand dollars.

677
00:32:42,360 --> 00:32:45,840
Speaker 3: Perfect, And then tell me a little bit more about

678
00:32:46,000 --> 00:32:48,880
Speaker 3: like your big money goals. Obviously it's to increase your

679
00:32:48,960 --> 00:32:51,360
Speaker 3: education and get back into the workforce at some point.

680
00:32:51,520 --> 00:32:53,560
Speaker 3: But I feel like we've already ticked off a number

681
00:32:53,600 --> 00:32:56,280
Speaker 3: of goals. We've got our first home, it's currently being

682
00:32:56,320 --> 00:32:59,440
Speaker 3: rented out. You also have an investment property you started investing,

683
00:32:59,560 --> 00:33:03,480
Speaker 3: like what the plan financially, So we've got a few

684
00:33:03,920 --> 00:33:04,880
Speaker 3: I guess in the short term.

685
00:33:04,960 --> 00:33:07,840
Speaker 2: Next year we want to take our first big overseas

686
00:33:08,000 --> 00:33:10,920
Speaker 2: holiday as a family. My husband's from overseas, so we

687
00:33:11,000 --> 00:33:14,240
Speaker 2: would love for our children to meet their great grandma

688
00:33:14,400 --> 00:33:18,400
Speaker 2: before she's too old and just sort of reconnect with

689
00:33:18,440 --> 00:33:21,560
Speaker 2: their heritage a little bit. I would love to grow

690
00:33:21,560 --> 00:33:24,040
Speaker 2: at our share portfolio, and our big one is to

691
00:33:24,080 --> 00:33:26,120
Speaker 2: get into our forever home, so that's sort of a

692
00:33:26,200 --> 00:33:26,960
Speaker 2: longer term goal.

693
00:33:27,240 --> 00:33:30,239
Speaker 3: Totally. And is that something that you're prioritizing right now?

694
00:33:30,400 --> 00:33:32,680
Speaker 3: You're like, Okay, we're going to get our emergency fund

695
00:33:32,760 --> 00:33:34,760
Speaker 3: and all of these like short term things sorted, but

696
00:33:35,160 --> 00:33:37,760
Speaker 3: one day we will step up into a bigger property.

697
00:33:38,120 --> 00:33:40,680
Speaker 2: Yeah exactly right. Yeah, we just focus on getting back

698
00:33:40,720 --> 00:33:43,240
Speaker 2: to where we were, and then there are goals moving forward.

699
00:33:43,440 --> 00:33:45,880
Speaker 3: Yeah, and when I'm just like so pervy about all

700
00:33:45,920 --> 00:33:48,960
Speaker 3: of this stuff, so I do apologize. But when it

701
00:33:49,080 --> 00:33:51,760
Speaker 3: comes to that next home, is that something where you'll

702
00:33:51,800 --> 00:33:54,440
Speaker 3: probably sit down and start saving another deposit or do

703
00:33:54,480 --> 00:33:57,000
Speaker 3: you think that there might be enough equity in your

704
00:33:57,040 --> 00:33:59,880
Speaker 3: first home and your investment property to hopefully leverage you

705
00:34:00,200 --> 00:34:02,840
Speaker 3: into a situation where you don't have to like start

706
00:34:02,920 --> 00:34:05,120
Speaker 3: start from scratch when it comes to the property ladder.

707
00:34:05,440 --> 00:34:08,040
Speaker 2: Yeah, I definitely think we could leverage some equity, but

708
00:34:08,080 --> 00:34:08,600
Speaker 2: I would like.

709
00:34:08,680 --> 00:34:12,239
Speaker 3: To save a bit as well. Yeah, safety, I feel

710
00:34:12,280 --> 00:34:14,520
Speaker 3: like it's a good idea. All right, you have worked

711
00:34:14,640 --> 00:34:17,840
Speaker 3: so hard to achieve everything that you guys have achieved,

712
00:34:17,920 --> 00:34:19,759
Speaker 3: but I need to know how are you protecting it?

713
00:34:19,920 --> 00:34:22,040
Speaker 3: Do you have personal insurances set up?

714
00:34:22,840 --> 00:34:25,600
Speaker 2: I do, Actually I only got them sorted a couple

715
00:34:25,640 --> 00:34:27,520
Speaker 2: of weeks ago. But yeah, given that I had to

716
00:34:27,600 --> 00:34:30,239
Speaker 2: put all my other financial goals on the back burner

717
00:34:30,280 --> 00:34:33,440
Speaker 2: while I built up my emergency fund, I thought, I

718
00:34:33,480 --> 00:34:35,719
Speaker 2: may as well get my insurances sorted, and that way,

719
00:34:36,280 --> 00:34:39,960
Speaker 2: I'm putting myself in a better financial position through that way.

720
00:34:40,280 --> 00:34:42,279
Speaker 3: Why did you decide, all right, well, I need to

721
00:34:42,280 --> 00:34:43,600
Speaker 3: set up my personal insurances.

722
00:34:43,880 --> 00:34:47,040
Speaker 2: I just felt like it would give me more stability

723
00:34:47,160 --> 00:34:49,800
Speaker 2: and more comfort, and the fact that I have children

724
00:34:49,880 --> 00:34:52,080
Speaker 2: and more assets now compared to when I was younger

725
00:34:52,760 --> 00:34:55,240
Speaker 2: just felt like the right time to sort of square

726
00:34:55,280 --> 00:34:58,200
Speaker 2: that away and make sure that everything's protected and everyone.

727
00:34:58,440 --> 00:35:01,640
Speaker 3: Is safe totally. But also so I'm like always talking

728
00:35:01,680 --> 00:35:03,880
Speaker 3: to people who are like Victoria, I have assets and

729
00:35:03,960 --> 00:35:07,439
Speaker 3: children now, life is so expensive. Where did you start?

730
00:35:07,520 --> 00:35:09,920
Speaker 3: Did you just do your insurances yourself? Did you just

731
00:35:10,000 --> 00:35:11,719
Speaker 3: like go online and set them up? Or did you

732
00:35:11,800 --> 00:35:13,320
Speaker 3: see someone? What was the process?

733
00:35:14,040 --> 00:35:15,279
Speaker 2: I went through Skywealth?

734
00:35:15,560 --> 00:35:19,239
Speaker 3: Oh okay, Queen, just like a little plug for Phil's team.

735
00:35:19,800 --> 00:35:23,279
Speaker 2: Absolutely, they were incredible. They made everything so easy. I'm

736
00:35:23,320 --> 00:35:26,600
Speaker 2: not very good at like paperwork and returning forms and

737
00:35:26,680 --> 00:35:28,359
Speaker 2: things I get a bit needy atable, but they were

738
00:35:28,600 --> 00:35:31,000
Speaker 2: super helpful and they made the whole process really easy.

739
00:35:31,239 --> 00:35:33,600
Speaker 3: I'm obsessed. All right. Well, I mean that's really great

740
00:35:33,640 --> 00:35:35,919
Speaker 3: because this episode was brought to you by sky Wealth,

741
00:35:35,920 --> 00:35:39,200
Speaker 3: which is kind of hilarious. And I'm with sky Wealth,

742
00:35:39,280 --> 00:35:41,399
Speaker 3: as is I feel like most of our community because

743
00:35:41,440 --> 00:35:43,880
Speaker 3: we talk about them and love them. But I was

744
00:35:43,960 --> 00:35:46,360
Speaker 3: not expecting you to say I'm with sky Wealth. I

745
00:35:46,440 --> 00:35:49,320
Speaker 3: didn't know that at all. So what a perfect outcome.

746
00:35:49,880 --> 00:35:53,080
Speaker 3: I know it wasn't planned at all. No, it actually wasn't.

747
00:35:53,239 --> 00:35:57,040
Speaker 3: But moving on, I want to know, all right, let's

748
00:35:57,040 --> 00:35:58,719
Speaker 3: go to a really quick break because I want to

749
00:35:58,719 --> 00:36:01,400
Speaker 3: ask you more about your share port folio, more about

750
00:36:01,440 --> 00:36:05,440
Speaker 3: like maybe existing debts and what those mortgages actually look like,

751
00:36:05,560 --> 00:36:07,960
Speaker 3: and then best and worst money habits that are not yours, buch.

752
00:36:08,040 --> 00:36:10,360
Speaker 3: So let's go to a break and we'll see you

753
00:36:10,440 --> 00:36:17,239
Speaker 3: on the flip side. All right, guys, we are back,

754
00:36:17,360 --> 00:36:19,840
Speaker 3: and I want to talk about your share portfolio. So

755
00:36:20,120 --> 00:36:24,120
Speaker 3: you said I've started investing, and that is so flipping exciting.

756
00:36:24,760 --> 00:36:28,640
Speaker 3: How how did you jump into your first investment? Because

757
00:36:28,640 --> 00:36:32,239
Speaker 3: I feel like investing is overwhelming, but the hardest part

758
00:36:32,480 --> 00:36:34,920
Speaker 3: is doing your first trade. How did you do it?

759
00:36:35,840 --> 00:36:38,239
Speaker 2: Well? Being a shoes on the money, a convert I

760
00:36:38,760 --> 00:36:41,600
Speaker 2: signed up for Chasy's got my free ten dollars, popped

761
00:36:41,640 --> 00:36:43,839
Speaker 2: that in and just sat with that for a couple

762
00:36:43,920 --> 00:36:47,200
Speaker 2: of weeks, and then slowly added a little bit more

763
00:36:47,480 --> 00:36:49,720
Speaker 2: and just sort of built up wherever I could find

764
00:36:50,080 --> 00:36:53,320
Speaker 2: a bit of money until now it's not scary, it's exciting.

765
00:36:53,520 --> 00:36:56,000
Speaker 3: That is so fun. And what type of level of

766
00:36:56,120 --> 00:36:58,239
Speaker 3: investment have we got in our portfolio at this point

767
00:36:58,280 --> 00:36:58,640
Speaker 3: in time.

768
00:36:58,920 --> 00:37:01,000
Speaker 2: It's not very biger than in it, so to met

769
00:37:01,040 --> 00:37:04,439
Speaker 2: We've got five one hundred and ninety nine dollars.

770
00:37:04,560 --> 00:37:06,600
Speaker 3: Do you mean not big? At the moment?

771
00:37:07,400 --> 00:37:09,319
Speaker 2: I'd like, you know, you hear money stories where they've

772
00:37:09,320 --> 00:37:10,880
Speaker 2: got these amazing portfolios.

773
00:37:10,960 --> 00:37:13,160
Speaker 3: So that's my goal one totally, Like you could have

774
00:37:13,200 --> 00:37:15,680
Speaker 3: one hundred grand dinner share portfolio, but like sis, sit down,

775
00:37:15,760 --> 00:37:18,320
Speaker 3: you've got your first home, you've got an investment property,

776
00:37:18,360 --> 00:37:21,279
Speaker 3: you've got two children, your husband's and assistant principal. I

777
00:37:21,320 --> 00:37:24,120
Speaker 3: think you're doing fine to have five grand in shares.

778
00:37:24,200 --> 00:37:27,760
Speaker 3: That queen step back because like, yeah, I will enable

779
00:37:27,840 --> 00:37:30,439
Speaker 3: your purchases, but I won't let you bring yourself down

780
00:37:30,480 --> 00:37:32,439
Speaker 3: and that's not going to happen. That's not going to happen,

781
00:37:32,840 --> 00:37:35,799
Speaker 3: thank you. That is very exciting. So did you once

782
00:37:35,840 --> 00:37:37,600
Speaker 3: you had your first ten dollars and you're making your

783
00:37:37,600 --> 00:37:39,520
Speaker 3: first trade, did you pick an ETF? Did you pick

784
00:37:39,560 --> 00:37:42,560
Speaker 3: a direct share? If so, how did you make that decision?

785
00:37:43,040 --> 00:37:46,239
Speaker 2: I picked an ETF Again, I just sort of went

786
00:37:46,600 --> 00:37:49,040
Speaker 2: with things that had been discussed on the podcast in

787
00:37:49,160 --> 00:37:51,520
Speaker 2: terms of having a core satellite approach.

788
00:37:51,680 --> 00:37:52,960
Speaker 3: Do you want to be on the podcast because it

789
00:37:53,000 --> 00:37:54,920
Speaker 3: sounds like you could like literally run.

790
00:37:54,800 --> 00:37:55,160
Speaker 2: It for me.

791
00:37:55,280 --> 00:37:57,399
Speaker 3: At this point, I just be quoting you all day.

792
00:37:57,560 --> 00:37:59,200
Speaker 3: It's good. That's what I do all day. I just

793
00:37:59,280 --> 00:38:00,440
Speaker 3: repeat myself. So why not?

794
00:38:01,480 --> 00:38:05,279
Speaker 2: So? Yeah, I picked an Australian ETF, like an ASX

795
00:38:05,520 --> 00:38:10,080
Speaker 2: two hundred, and then an American ETF as well.

796
00:38:10,080 --> 00:38:12,120
Speaker 3: In tech fun. So we've got a little bit of

797
00:38:12,200 --> 00:38:17,200
Speaker 3: diversification there, which is really exciting. Now, tell me about debts.

798
00:38:17,400 --> 00:38:19,320
Speaker 3: We know of two debts that you currently have, but

799
00:38:19,400 --> 00:38:22,560
Speaker 3: they are good debts, not bad debts. The first one

800
00:38:22,640 --> 00:38:24,640
Speaker 3: you took on was your first home with your husband.

801
00:38:25,360 --> 00:38:27,320
Speaker 3: How much did you purchase that property for? Tell me

802
00:38:27,440 --> 00:38:28,480
Speaker 3: all of the nitty gritty.

803
00:38:28,760 --> 00:38:33,360
Speaker 2: Yes, so our house we bought for five hundred thousand

804
00:38:33,400 --> 00:38:37,319
Speaker 2: dollars in twenty eighteen. That mortgage is currently sitting at

805
00:38:37,680 --> 00:38:40,680
Speaker 2: five hundred and forty eight thousand, nine hundred and twelve,

806
00:38:40,960 --> 00:38:43,360
Speaker 2: just because we pulled some of that equity out. But

807
00:38:43,440 --> 00:38:47,400
Speaker 2: it's currently worth seven hundred and twenty nine thousand dollars.

808
00:38:47,960 --> 00:38:51,279
Speaker 2: Very nice, And it's been rented at the minute for

809
00:38:51,440 --> 00:38:52,600
Speaker 2: five hundred dollars a week.

810
00:38:52,760 --> 00:38:55,479
Speaker 3: Oh good rental yield on a five hundred and forty

811
00:38:55,520 --> 00:38:58,600
Speaker 3: eight thousand dollars mortgage. That's nice. Yeah, it is nice.

812
00:38:58,680 --> 00:39:01,400
Speaker 2: Yeah, I think the yield is four point seventy five percent.

813
00:39:01,640 --> 00:39:03,319
Speaker 3: Yeah on that. In my head, I was like, that's

814
00:39:03,320 --> 00:39:05,040
Speaker 3: about five percent. That's a good deal. Yeah.

815
00:39:05,280 --> 00:39:08,520
Speaker 2: And then so our other house, our investment property, we

816
00:39:08,760 --> 00:39:11,480
Speaker 2: bought that in twenty twenty three for four hundred and

817
00:39:11,560 --> 00:39:14,799
Speaker 2: fifty six thousand, five hundred and fifteen dollars.

818
00:39:14,880 --> 00:39:17,120
Speaker 3: Five hundred and fifteen dollars. That's very specific.

819
00:39:17,239 --> 00:39:20,080
Speaker 2: I love that we have only been paying the interest

820
00:39:20,160 --> 00:39:21,800
Speaker 2: on that mortgage at the minute, so that's still sitting

821
00:39:21,840 --> 00:39:24,360
Speaker 2: as it is, but that is now worth seven hundred

822
00:39:24,400 --> 00:39:28,520
Speaker 2: and forty thousand dollars. What and yeah, I know it's

823
00:39:28,760 --> 00:39:32,120
Speaker 2: it's been amazing. And then the it's rented for six

824
00:39:32,360 --> 00:39:33,319
Speaker 2: fifty a week.

825
00:39:33,480 --> 00:39:36,239
Speaker 3: That's even better. Rented yield. Yeah, seven point four to

826
00:39:36,239 --> 00:39:39,719
Speaker 3: two percent on that sorry, and you're like, oh, yeah,

827
00:39:39,760 --> 00:39:41,759
Speaker 3: I think I'm a bee. And you're sitting on like

828
00:39:41,840 --> 00:39:44,840
Speaker 3: basically half a million dollars worth of equity and have

829
00:39:45,000 --> 00:39:48,480
Speaker 3: really great rental yields on both of these properties, and

830
00:39:48,600 --> 00:39:50,320
Speaker 3: you're like, oh, no, I wish I had a bigger

831
00:39:50,360 --> 00:39:51,280
Speaker 3: investment portfolio.

832
00:39:51,600 --> 00:39:54,439
Speaker 2: You do, I know, but it feels like because there's

833
00:39:54,480 --> 00:39:56,320
Speaker 2: a lot of debt sitting on those two which.

834
00:39:56,160 --> 00:39:58,680
Speaker 3: Feels okay, yeah, Like and I mean you're probably in

835
00:39:58,800 --> 00:40:01,920
Speaker 3: nearly a million dollars worth debt. Fantastic, But if we

836
00:40:02,080 --> 00:40:04,720
Speaker 3: sold both of those properties, you got five hundred cash.

837
00:40:05,680 --> 00:40:07,279
Speaker 3: That's a lot, And like, we don't want to do

838
00:40:07,360 --> 00:40:09,879
Speaker 3: that because we like the rental yield. But with five

839
00:40:09,960 --> 00:40:12,719
Speaker 3: hundred thousand dollars worth of equity, we could absolutely get

840
00:40:12,760 --> 00:40:14,880
Speaker 3: you into your forever home. I mean, it's probably not

841
00:40:14,960 --> 00:40:17,000
Speaker 3: an ideal timing right now. So I'd be like, look,

842
00:40:17,160 --> 00:40:19,239
Speaker 3: just put that off as long as you possibly can,

843
00:40:19,360 --> 00:40:22,120
Speaker 3: because the equity is going to grow and your rental

844
00:40:22,200 --> 00:40:25,920
Speaker 3: yield will start paying off more of those mortgages, be

845
00:40:26,040 --> 00:40:29,600
Speaker 3: more financially stable. But go, yes, you can save, but

846
00:40:30,080 --> 00:40:32,320
Speaker 3: I don't think you'll need to for your next property.

847
00:40:33,239 --> 00:40:34,239
Speaker 2: Yeah, that's exciting to you.

848
00:40:34,400 --> 00:40:39,839
Speaker 3: That is so cool. Yeah, oh my god, how did

849
00:40:39,920 --> 00:40:43,239
Speaker 3: you make a decision about that investment property? Because I'm

850
00:40:43,280 --> 00:40:45,279
Speaker 3: telling you right now, if someone could guarantee me that

851
00:40:45,400 --> 00:40:47,879
Speaker 3: rental yield, I'd like take my money. That's fine. I'd

852
00:40:47,920 --> 00:40:51,520
Speaker 3: love that mortgage. So how did you decide, oh, that's

853
00:40:51,560 --> 00:40:53,760
Speaker 3: a good location to buy. Did you use a bias

854
00:40:53,840 --> 00:40:56,000
Speaker 3: agent or did you guys make the decision.

855
00:40:56,200 --> 00:40:59,920
Speaker 2: Actually, we came across a financial advisor that's sort of

856
00:41:00,360 --> 00:41:04,880
Speaker 2: specializes in property. We actually were going to go ahead

857
00:41:04,920 --> 00:41:08,759
Speaker 2: with doing it a long time ago and COVID hit

858
00:41:08,840 --> 00:41:10,480
Speaker 2: and we panicked and pulled out of the deal, and

859
00:41:10,520 --> 00:41:12,120
Speaker 2: then looking back at the house that we were going

860
00:41:12,200 --> 00:41:14,960
Speaker 2: to buy, we were like, whoa, that went up a

861
00:41:15,200 --> 00:41:18,000
Speaker 2: lot as stressful as out. So this time we absolutely

862
00:41:18,120 --> 00:41:19,560
Speaker 2: just have to pull a trigger on it, even if

863
00:41:19,600 --> 00:41:23,399
Speaker 2: we feel uncomfortable. And I'm so glad we did, because yeah,

864
00:41:23,440 --> 00:41:25,120
Speaker 2: the scariest thing is doing it. Now that we'reing it,

865
00:41:25,480 --> 00:41:26,240
Speaker 2: it feels fine.

866
00:41:26,560 --> 00:41:29,920
Speaker 3: So yeah, I love that. And how did you know

867
00:41:30,080 --> 00:41:33,799
Speaker 3: to trust this financial advisor slash buyer's agent? Like where

868
00:41:33,880 --> 00:41:36,080
Speaker 3: does that coming? Because I feel like this space can

869
00:41:36,160 --> 00:41:38,799
Speaker 3: be really overwhelming and daunting, especially if you've not come

870
00:41:38,840 --> 00:41:41,800
Speaker 3: from a position of like high levels of financial literacy.

871
00:41:42,200 --> 00:41:45,120
Speaker 3: So we sort of found them while I still wasn't

872
00:41:45,200 --> 00:41:48,480
Speaker 3: very financially literate, which is not great because I probably

873
00:41:48,520 --> 00:41:52,520
Speaker 3: didn't do my due diligence and check on much at all.

874
00:41:53,000 --> 00:41:55,160
Speaker 3: So really it's just come down to luck that they

875
00:41:55,280 --> 00:41:59,760
Speaker 3: were actually legitimate and they worked really well. But in future,

876
00:42:00,040 --> 00:42:02,840
Speaker 3: would strongly recommend to anyone not to do that approach

877
00:42:03,000 --> 00:42:05,239
Speaker 3: that I just sort of, you know, let's just do

878
00:42:05,360 --> 00:42:07,719
Speaker 3: it and it'll all work out fine. I mean, it's

879
00:42:07,840 --> 00:42:10,080
Speaker 3: not the worst thing in the world, but yes, I

880
00:42:10,160 --> 00:42:12,160
Speaker 3: get a little bit stressed when people say they've used

881
00:42:12,160 --> 00:42:14,560
Speaker 3: a buy this agent to buy an investment property, because

882
00:42:14,560 --> 00:42:16,359
Speaker 3: there's just so many people in the industry who don't

883
00:42:16,360 --> 00:42:18,400
Speaker 3: know what they're talking about, and like, you don't know

884
00:42:18,480 --> 00:42:21,239
Speaker 3: what you don't know because these people, especially people in

885
00:42:21,320 --> 00:42:22,960
Speaker 3: real estate, and like, if you're listening to this and

886
00:42:23,000 --> 00:42:25,319
Speaker 3: you're in real estate, I'm sure you're a delightful human.

887
00:42:25,560 --> 00:42:28,680
Speaker 3: But we all know there are many snakes in real estate,

888
00:42:28,800 --> 00:42:31,040
Speaker 3: and they're so good at talking, and they are so

889
00:42:31,239 --> 00:42:34,560
Speaker 3: good at selling the dream, and it drives me nuts

890
00:42:34,600 --> 00:42:38,040
Speaker 3: because they'll promise a brilliant rental yield and then they

891
00:42:38,160 --> 00:42:41,080
Speaker 3: sell you something in a housing estate that never increases

892
00:42:41,120 --> 00:42:43,120
Speaker 3: in value. You don't end up with any equity, and

893
00:42:43,200 --> 00:42:45,560
Speaker 3: your rental yield is dismal, and they go, well, that's

894
00:42:45,640 --> 00:42:48,520
Speaker 3: the market being off. So sorry, like because there's no

895
00:42:48,680 --> 00:42:52,120
Speaker 3: real ramifications because like you know, past performance is not

896
00:42:52,160 --> 00:42:54,360
Speaker 3: a reliable predict or a fusion performance. They can promise

897
00:42:54,400 --> 00:42:55,760
Speaker 3: you anything exactly.

898
00:42:56,160 --> 00:42:58,960
Speaker 2: You know, like I said, we've just been incredibly lucky.

899
00:42:59,040 --> 00:43:02,080
Speaker 3: And I love this. So talk to me.

900
00:43:02,360 --> 00:43:05,279
Speaker 2: What do you think your best money habit is. I

901
00:43:05,480 --> 00:43:10,560
Speaker 2: think my best money habits It wasn't a specific habit.

902
00:43:10,640 --> 00:43:13,680
Speaker 2: I think it's more my attitude and my mindset towards money,

903
00:43:13,760 --> 00:43:16,439
Speaker 2: so that abundance mindset, because I feel like it's laid

904
00:43:16,480 --> 00:43:20,360
Speaker 2: a strong foundation to build everything else on top of. Like,

905
00:43:20,520 --> 00:43:22,960
Speaker 2: my money habits changed depending on where I am with

906
00:43:23,080 --> 00:43:25,840
Speaker 2: my finances, but at the base of that is always

907
00:43:25,880 --> 00:43:29,160
Speaker 2: that I view money as this tool that can get

908
00:43:29,239 --> 00:43:32,080
Speaker 2: me places, or do things for us, or give us freedom.

909
00:43:32,520 --> 00:43:34,360
Speaker 2: And that's allowed, like I said, me and my husband

910
00:43:34,440 --> 00:43:36,640
Speaker 2: to speak comfortably about it, or for me to start

911
00:43:36,680 --> 00:43:40,359
Speaker 2: discussing money with my friends, which has you know, been

912
00:43:40,440 --> 00:43:42,680
Speaker 2: able to set some of them in the right pathway too.

913
00:43:43,040 --> 00:43:45,480
Speaker 2: So yeah, I think that's probably my best habit.

914
00:43:45,880 --> 00:43:49,400
Speaker 3: I couldn't agree more your entire attitude throughout this. I'm like,

915
00:43:49,440 --> 00:43:51,600
Speaker 3: I wish everybody in the community embraced it in the

916
00:43:51,680 --> 00:43:54,279
Speaker 3: same way. I also wish everybody in the community had

917
00:43:54,280 --> 00:43:57,160
Speaker 3: a husband that was as supportive. We're not going to

918
00:43:57,200 --> 00:43:59,799
Speaker 3: make him our worst money habit, so shout out to him.

919
00:44:00,080 --> 00:44:01,399
Speaker 3: What is your worst money habit?

920
00:44:01,440 --> 00:44:01,600
Speaker 2: Though?

921
00:44:01,960 --> 00:44:02,880
Speaker 3: Oh it's so basic.

922
00:44:03,360 --> 00:44:06,640
Speaker 2: I still really struggle with my budgeting and cash flow,

923
00:44:06,760 --> 00:44:11,080
Speaker 2: and I have tried so many different iterations of how

924
00:44:11,200 --> 00:44:14,160
Speaker 2: to budget or track the money in different ways and

925
00:44:14,480 --> 00:44:17,920
Speaker 2: like you know, written or in an app, and like,

926
00:44:18,480 --> 00:44:20,520
Speaker 2: I am not a freak in the sheets. My Excel

927
00:44:20,560 --> 00:44:24,319
Speaker 2: spreadsheets are very basic and they just don't seem to work.

928
00:44:24,480 --> 00:44:26,680
Speaker 2: It always gets to the point where I'm shuffling money

929
00:44:26,960 --> 00:44:30,319
Speaker 2: back and forwards between my savings and my spending, which

930
00:44:30,360 --> 00:44:32,880
Speaker 2: is really frustrating because then we can't reach our financial

931
00:44:32,960 --> 00:44:36,279
Speaker 2: goals as well, because we're not consistently putting things away

932
00:44:36,280 --> 00:44:37,879
Speaker 2: because I just need to shuffle it back and forward

933
00:44:37,880 --> 00:44:40,360
Speaker 2: a bit too much. But I keep working on that.

934
00:44:40,560 --> 00:44:42,120
Speaker 3: No, no, no, I can fix that easy. I'll just

935
00:44:42,160 --> 00:44:44,839
Speaker 3: give you access to my money masterclass. I've literally done

936
00:44:44,840 --> 00:44:47,040
Speaker 3: it all. I'm a psycho. So like when you said

937
00:44:47,040 --> 00:44:48,480
Speaker 3: you're not a freaking the sheets, I was like, where

938
00:44:48,480 --> 00:44:50,080
Speaker 3: are we going with this? And then you're talking about

939
00:44:50,120 --> 00:44:52,239
Speaker 3: spreadshets and I was like, well, girl, I am, I'm

940
00:44:52,280 --> 00:44:55,919
Speaker 3: a psycho. I have not just built a spreadsheet that works.

941
00:44:55,960 --> 00:44:58,239
Speaker 3: I have automated the entire thing. So all you do

942
00:44:58,360 --> 00:44:59,839
Speaker 3: is put your budget in and then it will tell

943
00:44:59,840 --> 00:45:02,759
Speaker 3: you what needs to go into which bank account at

944
00:45:02,800 --> 00:45:05,560
Speaker 3: which time. And if you're like, well, actually, Victoria, our

945
00:45:05,640 --> 00:45:08,120
Speaker 3: income comes in on a fortnightly basis, don't worry, queen.

946
00:45:08,239 --> 00:45:11,080
Speaker 3: Just change your setting and it'll be weekly, fortnightly, monthly,

947
00:45:11,239 --> 00:45:13,080
Speaker 3: like it could even be annually if you want it

948
00:45:13,160 --> 00:45:15,719
Speaker 3: to be. And I am so proud of that thing

949
00:45:16,160 --> 00:45:19,720
Speaker 3: and the fact that I coded it for basically nine months,

950
00:45:19,840 --> 00:45:21,640
Speaker 3: Like let's not talk about how long it took me.

951
00:45:21,800 --> 00:45:24,160
Speaker 3: Let's just talk about how good the outcome is. But

952
00:45:24,320 --> 00:45:27,160
Speaker 3: that has literally changed the money story of thousands of people.

953
00:45:27,320 --> 00:45:31,760
Speaker 3: And it's my favorite thing ever because like it literally

954
00:45:31,840 --> 00:45:33,480
Speaker 3: automates it for you. So I'm going to send you

955
00:45:33,600 --> 00:45:35,160
Speaker 3: that and that I can fix that. You don't have

956
00:45:35,200 --> 00:45:38,120
Speaker 3: that bad money happen anymore. Bam, done, We're done, Thank.

957
00:45:38,000 --> 00:45:41,040
Speaker 2: You, Thank you so much. That would be incredible, because yeah,

958
00:45:41,040 --> 00:45:42,759
Speaker 2: I just can't seem to get it together.

959
00:45:43,160 --> 00:45:45,600
Speaker 3: Now you've got it, I'm so excited. And to be honest,

960
00:45:45,920 --> 00:45:48,800
Speaker 3: the way it's structured would work really well for you

961
00:45:48,920 --> 00:45:51,840
Speaker 3: guys as well, because you'd pick the duel version. So

962
00:45:51,920 --> 00:45:53,720
Speaker 3: I've got two versions of it if you're a single

963
00:45:53,800 --> 00:45:55,960
Speaker 3: income household and then you've got your duel, but I

964
00:45:56,000 --> 00:45:57,960
Speaker 3: would use the duel one and just mark yours down

965
00:45:58,000 --> 00:46:00,239
Speaker 3: as zero just because you're on Matt Lee. But then

966
00:46:00,280 --> 00:46:02,120
Speaker 3: you don't have to fix it up at another time.

967
00:46:02,680 --> 00:46:06,239
Speaker 3: But then joint costs like kids and savings goals and

968
00:46:06,360 --> 00:46:09,640
Speaker 3: infesting goals and budgets for your first home. I even

969
00:46:09,719 --> 00:46:11,600
Speaker 3: built in And this is like not me trying to

970
00:46:11,680 --> 00:46:13,719
Speaker 3: blow my own horn. I just think it's a really

971
00:46:14,280 --> 00:46:17,560
Speaker 3: cool thing to build in a mortgage repayment calculator on

972
00:46:17,640 --> 00:46:19,839
Speaker 3: one of the tabs. So like if you put your

973
00:46:19,920 --> 00:46:22,160
Speaker 3: loans in and your interest rate and then like have

974
00:46:22,280 --> 00:46:23,520
Speaker 3: a bit of a fiddle with it and go, well,

975
00:46:23,560 --> 00:46:26,400
Speaker 3: what does fifty dollars a week, look like. In addition,

976
00:46:26,800 --> 00:46:28,520
Speaker 3: it will tell you how many years it cuts off

977
00:46:28,560 --> 00:46:28,879
Speaker 3: your loan.

978
00:46:29,080 --> 00:46:29,720
Speaker 2: That's amazing.

979
00:46:29,840 --> 00:46:32,600
Speaker 3: I'm just excited about that. I'm just a maths girl

980
00:46:32,680 --> 00:46:34,480
Speaker 3: at heart, and we're going to stop talking about it

981
00:46:34,520 --> 00:46:36,719
Speaker 3: because you guys might start thinking I'm a nerd and

982
00:46:36,920 --> 00:46:40,440
Speaker 3: couldn't have that. But that is so exciting money direst

983
00:46:40,520 --> 00:46:42,319
Speaker 3: And I'm really sad that we're running out of time.

984
00:46:43,760 --> 00:46:46,160
Speaker 3: If there was one thing that you could say to

985
00:46:46,280 --> 00:46:48,799
Speaker 3: somebody who's in the position you were in. So they

986
00:46:48,880 --> 00:46:51,400
Speaker 3: feel like they're drowning in debt. They've just started listening

987
00:46:51,480 --> 00:46:54,680
Speaker 3: to money story. It's all completely overwhelming. What would you

988
00:46:54,719 --> 00:46:55,239
Speaker 3: tell them to do?

989
00:46:55,600 --> 00:46:57,879
Speaker 2: I don't know. I guess starts small, like you say,

990
00:46:58,080 --> 00:47:02,960
Speaker 2: from little things big things, and that's truly how it started.

991
00:47:03,000 --> 00:47:04,640
Speaker 2: Being able to put a couple of dollars here and

992
00:47:04,760 --> 00:47:07,319
Speaker 2: there into things was the way to start, and then

993
00:47:08,000 --> 00:47:11,200
Speaker 2: and then it just grows from there. So I think

994
00:47:11,680 --> 00:47:13,720
Speaker 2: everyone can do what I've done. I'm not special.

995
00:47:13,920 --> 00:47:14,960
Speaker 3: I just I got the.

996
00:47:14,960 --> 00:47:18,080
Speaker 2: Information I never had and I applied it and anyone

997
00:47:18,120 --> 00:47:19,960
Speaker 2: can do that. So it's very exciting.

998
00:47:20,080 --> 00:47:22,160
Speaker 3: I love it. And before we go, I need to

999
00:47:22,200 --> 00:47:25,319
Speaker 3: revisit your grade. You said you were a B. Queen,

1000
00:47:25,440 --> 00:47:27,120
Speaker 3: Tell me what does it take to get to an A,

1001
00:47:27,480 --> 00:47:30,560
Speaker 3: because I'm just looking at this going I don't know

1002
00:47:30,680 --> 00:47:33,120
Speaker 3: what more she can do. All she said was that

1003
00:47:33,239 --> 00:47:35,759
Speaker 3: she was bad at spreadsheets, and that doesn't make you

1004
00:47:35,800 --> 00:47:38,440
Speaker 3: bad at money. So where's this bee come from? How

1005
00:47:38,480 --> 00:47:40,239
Speaker 3: do we get to an A? Well?

1006
00:47:40,719 --> 00:47:42,520
Speaker 2: Like I said, I would like to fix my budgeting

1007
00:47:42,560 --> 00:47:44,880
Speaker 2: and cash flow, and I think given that we're starting

1008
00:47:45,200 --> 00:47:48,439
Speaker 2: over again, I would feel better about my grade once

1009
00:47:48,520 --> 00:47:51,480
Speaker 2: I've sort of gotten back to a position where I

1010
00:47:51,520 --> 00:47:54,440
Speaker 2: feel more comfortable in and then can grow our finances

1011
00:47:54,480 --> 00:47:56,160
Speaker 2: and grow our goals from there.

1012
00:47:56,320 --> 00:47:58,120
Speaker 3: I won't argue with that. I think that is very

1013
00:47:58,200 --> 00:48:01,200
Speaker 3: fair money, Dirist, It has been an absolute pleasure getting

1014
00:48:01,239 --> 00:48:03,320
Speaker 3: to know you, getting to know more about your family,

1015
00:48:03,440 --> 00:48:06,120
Speaker 3: your money habits, what you've done well and maybe what

1016
00:48:06,280 --> 00:48:08,880
Speaker 3: you haven't done so well. It's been really ie opening.

1017
00:48:08,960 --> 00:48:11,200
Speaker 3: But I know the community is going to love listening

1018
00:48:11,280 --> 00:48:13,880
Speaker 3: to this episode, So thank you so much. Thank you

1019
00:48:14,000 --> 00:48:16,320
Speaker 3: for having me, and also a very huge thank you

1020
00:48:16,400 --> 00:48:19,120
Speaker 3: to skuy Wealth for making this episode possible. I'll chuck

1021
00:48:19,120 --> 00:48:21,399
Speaker 3: a whole heap of information about them how to get

1022
00:48:21,440 --> 00:48:23,239
Speaker 3: in contact, what they do, how they do it in

1023
00:48:23,320 --> 00:48:31,080
Speaker 3: the show notes for you to check out did buy

1024
00:48:31,239 --> 00:48:31,640
Speaker 3: shared on?

1025
00:48:31,800 --> 00:48:34,160
Speaker 4: She's on the Money is general in nature and does

1026
00:48:34,280 --> 00:48:38,200
Speaker 4: not consider your individual circumstances. She's on the Money exists

1027
00:48:38,360 --> 00:48:41,560
Speaker 4: purely for educational purposes and should not be relied upon

1028
00:48:41,640 --> 00:48:44,640
Speaker 4: to make an investment or financial decision. If you do

1029
00:48:44,840 --> 00:48:47,760
Speaker 4: choose to buy a financial product, read the PDS TMD

1030
00:48:48,000 --> 00:48:49,920
Speaker 4: and obtain appropriate financial.

1031
00:48:49,600 --> 00:48:51,360
Speaker 3: Advice tailored towards your needs.

1032
00:48:51,760 --> 00:48:55,640
Speaker 4: Victoria Divine and She's on the Money are authorized representatives

1033
00:48:55,760 --> 00:48:59,520
Speaker 4: of money. Sheper pty Ltd ABN three two one is

1034
00:48:59,600 --> 00:49:02,840
Speaker 4: six four nine two seven seven zero eight a f

1035
00:49:02,960 --> 00:49:05,080
Speaker 4: s L four five one two eight nine