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

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

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Speaker 1: Nianar Kaka yah y and beIN Ahaka nian Our gay

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Speaker 1: In Nimbina yakarum jar Dominyama, Domaga Ithawakaman damon Imlan bomber

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Speaker 1: bang Gadabomba in and now in wakah ghan On yakram

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

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

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

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

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

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

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Speaker 2: She's on the Money.

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Speaker 3: She's on the Money.

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

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

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

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

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Speaker 4: pleasure of sitting down and having a chat with one

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Speaker 4: of our She's on the Money community members all about

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Speaker 4: their money story, and let's jump straight into it, because

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Speaker 4: this week I got a message and it went just

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Speaker 4: like this, Hi, she's on the money. At the end

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Speaker 4: of twenty twenty, we took a big risk and sold

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Speaker 4: our house to move our family to the beach. I

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Speaker 4: left my permanent job for a temporary contract, and my

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Speaker 4: husband had no job to go to. At the time,

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Speaker 4: we were in debt and had no clue about money.

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Speaker 4: Fast forward five years later, and now we have our

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Speaker 4: house savings, we are consistently investing, and we are in

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Speaker 4: the process of buying an investment property. Money Diarist, what

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Speaker 4: a glow up.

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Speaker 2: Sounds so strained when you say it back.

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Speaker 4: It's my favorite thing reading your money story to you,

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Speaker 4: because then you go, hold on, I'm actually pretty cool,

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Speaker 4: aren't I?

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Speaker 2: Yeah, exactly, I love it.

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Speaker 4: Let's learn a little bit more about you before we

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Speaker 4: dive any further in. I want to know what would

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Speaker 4: your grade your money habits from A three to F

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Speaker 4: if I asked you to give them a grade.

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Speaker 2: I think now where we are now, I would give

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Speaker 2: myself probably a B A B.

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Speaker 4: All right, let's learn more about that money drives. I

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Speaker 4: want to know, tell me a bit more about your

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Speaker 4: money story.

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Speaker 2: Well, my money story started, I suppose when I was

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Speaker 2: a child. My mom and dad just very hard working people,

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Speaker 2: but also very conservative people. They raised me to work hard,

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Speaker 2: by a house, stay in the house, continue to work,

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Speaker 2: paid off, then you retire. So I didn't really know

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Speaker 2: much about investing. I didn't know much about investment properties

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Speaker 2: or anything like that. Yeah, they were just very safe people,

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Speaker 2: and when it came to money, I think we lived

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Speaker 2: a very sheltered life.

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Speaker 4: That seems fair, but how do you get to the

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Speaker 4: point where living a sheltered life you then go Okay,

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Speaker 4: my parents were pretty like conservative, I'm going to quit

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Speaker 4: my job, go to a like temporary contract, my husband

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Speaker 4: doesn't have a job when we're moving to the beach,

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Speaker 4: Like what happens in between that? Because to me, that like,

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Speaker 4: I love that for you, but my god, I would

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Speaker 4: have anxiety if my partner even suggested that to me.

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Speaker 2: Well, my parents did have a little bit of anxiety,

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Speaker 2: I think when I told them that that's what we

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Speaker 2: were planning on doing, their comments were and their advice

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Speaker 2: was very i don't know, for lack of better word, negative. Yeah, okay, yeah,

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Speaker 2: they didn't think it was a very good idea. And

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Speaker 2: you know, I can understand why.

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Speaker 4: You can see why when you're trying to protect someone,

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Speaker 4: you go, oh, babe, I don't know if that's a

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Speaker 4: good idea, like that seems pretty risky, like also twenty

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Speaker 4: twenty before or after COVID announcement.

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Speaker 2: Oh my gosh, yes, don't know. I just felt in

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Speaker 2: my heart that it was the right thing to do.

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Speaker 2: It was I was being I don't know, pulled in

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Speaker 2: that direction. Yeah, yeah, I just knew that if I

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Speaker 2: didn't take the risk, you'd regret it. I would, yeah,

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Speaker 2: we would. We would regret it.

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Speaker 4: Yeah, And so tell me how that worked out, because yeah,

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Speaker 4: big risk, but you know what comes with big risk,

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Speaker 4: big reward and sometimes like you put your money where

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Speaker 4: your mouth is and then you're like, glad I did that,

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Speaker 4: because I'm in a much better position. How's the beach.

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Speaker 2: It's lovely. I mean a lot of the time it

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Speaker 2: does rain, but no, the beach. This is our home now,

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Speaker 2: this is where we call home.

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Speaker 4: A door and does it feel like home? Like you said,

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Speaker 4: or you were like, oh, I'm being pulled here, like

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Speaker 4: was there someone there or something there? Or you were

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Speaker 4: just like, no, we meant to live like over here.

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Speaker 2: No, well, my husband's parents live close by. But you know,

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Speaker 2: as much as we love them, we didn't move up

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Speaker 2: to the same area for them. It's lovely to be

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Speaker 2: close to them, it really is. But yeah, we just

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Speaker 2: we knew that that's the lifestyle we wanted to live

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Speaker 2: and to give our boys. So that's what we did,

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Speaker 2: and we decided to take a risk.

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Speaker 4: I love that. And you said you have boys. Have

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Speaker 4: you got two kids?

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Speaker 2: Two boys? Yes? So two boys, yeah, yeah, two boys,

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Speaker 2: one thirteen, the other one is ten. But at the

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Speaker 2: time they were oh, I think maybe five and eight.

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Speaker 4: That's crazy. How time flies, hay, Like twenty twenty feels

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Speaker 4: like yesterday at the same time as being forever a guy.

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Speaker 2: It's crazy.

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Speaker 4: It's actually insane. So like fast forward to now, like

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Speaker 4: you've obviously changed everything before I get into like what

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Speaker 4: you do and how much money you earn? Like what

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Speaker 4: changed because you go from going, oh, I had a

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Speaker 4: permanent job to a temporary contract and like my husband

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Speaker 4: had no job. So you get there, you've moved to

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Speaker 4: the beach. You had this temporary contract. What happened with that?

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Speaker 2: Well, I just stayed in that temporary contract in the

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Speaker 2: hope that it would become permanent. It eventually did.

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Speaker 4: Ah, money win, money win by life win.

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Speaker 2: Yeah, I don't work there anymore, that's okay, Yes, And

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Speaker 2: my husband. The irony of all of this is that

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Speaker 2: at the end of two thousand nineteen, he just graduated

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Speaker 2: from a Bachelor of Aviation Management.

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Speaker 4: Bougie.

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Speaker 2: Yeah, But twenty twenty came and the whole world shutdown.

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Speaker 4: So oh, that's that's not so bougie. That's not so good.

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Speaker 2: No, that was not bougie. That was very tough, and

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Speaker 2: I did feel for him. I felt so.

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Speaker 4: I mean, at least you were closer to the beach,

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Speaker 4: exactly exactly.

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Speaker 2: That was a good part of it. In the company

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Speaker 2: that he was working for, he had to drop his

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Speaker 2: hours to part time to be able to study full time,

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Speaker 2: and so when the world shut down and he couldn't

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Speaker 2: get a job in aviation, he tried to get his

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Speaker 2: full time hours back and it didn't happen. And then

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Speaker 2: he tried to get a transfer to where we were

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Speaker 2: moving to and they weren't allowing that. So it was

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Speaker 2: very frustrating. I felt horrible for him, and I just

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Speaker 2: said to him, I said, babe, just quit. Just quit.

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Speaker 2: We'll sort it out. And that's how he ended up

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Speaker 2: with my job.

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Speaker 4: Oh well, you know what. Sometimes big risk, big reward.

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Speaker 4: So tell me before we get any further, how's your

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Speaker 4: husband now, kid? Does he have a job again?

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Speaker 2: He is?

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Speaker 4: He much better? He does, he does, because that would

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Speaker 4: have been stressful.

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Speaker 2: Yeah, it was, it was, but we just sort of

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Speaker 2: took it day by day. He does have a job

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Speaker 2: now in the aviation industry, which is really good. So

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Speaker 2: I think he's Yeah, he's quite he's quite happy.

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Speaker 4: I love that. So now tell me a little bit

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Speaker 4: more about the personal situation. What do you do for

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Speaker 4: work and how much money do you earn.

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Speaker 2: I used to work in healthcare, but the burnout is real,

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Speaker 2: so I had to take a step back from that

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Speaker 2: and I did that at the end of last year.

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Speaker 2: I now work for a higher education institution and at

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Speaker 2: the moment, I currently earn about eighty two thousand.

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Speaker 4: Oh, very nice, and.

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Speaker 2: With seventeen percent super on top of that.

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Speaker 4: Okay, that's very sexy.

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Speaker 2: That is a big draw card.

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Speaker 4: I feel like higher education in general is just so underrated,

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Speaker 4: Like so many people are always like, oh my god,

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Speaker 4: what can I do for my career and then girl

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Speaker 4: higher ed like work for a university, do something like

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Speaker 4: that because their superannuation is and also like they have

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Speaker 4: salary bands and stuff. So everything just keeps moving and

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Speaker 4: I think that that's really sexy. I need to be

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Speaker 4: really pervy. What kind of income does your husband earn

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Speaker 4: in the aviation industry?

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Speaker 2: He earned roughly this last financial year he learnt he

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Speaker 2: earns just on one hundred thousand, But yeah, he's in

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Speaker 2: the process of moving roles at the moment. We're just

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Speaker 2: sort of waiting for that to happen.

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Speaker 4: Yeah, so household income of about one hundred and eighty

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Speaker 4: two grand, which is good, which is nice. What does

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Speaker 4: that I obviously don't know a lot about what you

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Speaker 4: mean when you say you're moving to the beach. I

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Speaker 4: can see guys being really perfy. She's based in Queensland,

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Speaker 4: so the beach is probably really nice. It's not some

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Speaker 4: Melbourne beach. But when you say moved to the beach,

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Speaker 4: have we moved somewhere like this is obviously in New

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Speaker 4: South Wales, But like, are we moving to an expensive

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Speaker 4: beach like Bondai Beach or are we like a little

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Speaker 4: bit more rural but still coastal, Like, what type of

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Speaker 4: living expenses exist in the area you're in.

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Speaker 2: I mean, we are on the Sunshine Coast, so I

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Speaker 2: guess it depends on your budget. I mean, I personally

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Speaker 2: think that things are quite expensive.

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Speaker 4: So tell me a little bit more about you moved.

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Speaker 4: You said that you're in the process of buying an

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Speaker 4: investment property. You obviously have like bought the family home.

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Speaker 4: You're all good to go on that front. You've got

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Speaker 4: your house, You've got your savings. What are your big

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Speaker 4: money goals? What are you currently working towards?

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Speaker 2: Well, when I wrote in it was to get the

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Speaker 2: investment property. We found out yesterday that it's all sorted,

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Speaker 2: so we should be settling there.

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Speaker 4: Oh so you got congrats? How exciting?

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Speaker 2: That is really exciting. Yeah, I mean I still have

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Speaker 2: no idea what I'm doing, but we'll figure it out

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Speaker 2: as we go along.

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Speaker 4: Tell me what do you mean when you say I

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Speaker 4: don't know what we're doing, like in terms of purchasing,

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Speaker 4: or in terms of like getting at least out, or

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Speaker 4: like just I don't even know where to start all

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Speaker 4: of that.

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Speaker 2: All of that. I'm just trying to work out what

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Speaker 2: our new financial situation is going to be taking on

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Speaker 2: an extra loan, trying to work out an instructure, how

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Speaker 2: that's going to work, and what that's going to look

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Speaker 2: like with our money and our income and our bank accounts,

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Speaker 2: and how we're going to structure it even like you said,

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Speaker 2: right down to getting a tenanty and how do I

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Speaker 2: go about doing that? Yeah, so all of that stuff.

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Speaker 4: If you've got any questions, just dm me. Turns out

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Speaker 4: I don't know a fair bit about property.

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Speaker 2: Amazing, thank you.

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Speaker 4: Yeah, yeah, I know a guy who knows a guy,

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Speaker 4: and I am the guy.

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Speaker 2: I might take you up on that offer. Yeah, so

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Speaker 2: that settles next week.

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Speaker 4: That's so exciting.

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Speaker 2: I know it is exciting. But I think our big

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Speaker 2: money goal, and we've been speaking about this for quite

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Speaker 2: some time, is overseas property. Okay, yeah, so my husband,

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Speaker 2: luckily is a citizen of the EU.

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Speaker 4: Oh okay, yeah, oh I see where this is going.

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Speaker 4: I was like, overseas property goal, what are you talking about?

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Speaker 2: Yeah? Yeah, yeah, yeah, So that's where I think eventually

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Speaker 2: we want to get to.

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Speaker 4: So you've basically married a prince room Dubai. I love

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Speaker 4: this for us, So tell me about owning property overseas.

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Speaker 4: So for those of you playing along in the EU.

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Speaker 4: How much text do you you pay money diarist?

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Speaker 2: It's a great question. I haven't figured that out. And

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Speaker 2: does it depend on which country you are in?

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Speaker 4: It depends on which country you earned the income in.

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Speaker 4: But if you then purchased a property, like say in Dubai,

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Speaker 4: they actually don't pay tax, which is a money win.

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Speaker 4: But if you purchased a property there, any of the

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Speaker 4: capital gains, any of the benefit to that property is

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Speaker 4: also not taxed because that would have been earned over there.

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Speaker 4: So I can see why maybe your partner is very

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Speaker 4: interested in owning overseas. For a lot of people, it

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Speaker 4: can be a I wouldn't say for everybody. So when

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Speaker 4: I say for a lot of people, I mean for

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Speaker 4: a lot of people who are citizens of the EU.

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Speaker 4: Like that makes sense, But I think it's each to

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Speaker 4: their own in terms of whether it's beneficial. But I

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Speaker 4: wouldn't be like listening to this podcast and going wow,

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Speaker 4: I never considered overseas property because that's really risky. But

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Speaker 4: if you have ties to that country and can make

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Speaker 4: it work, it could be potentially very beneficial. The thing, though,

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Speaker 4: is where you are registered as a tax and you

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Speaker 4: will have to talk to your accountant about that, because

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Speaker 4: there is the potential and I don't know property law

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Speaker 4: over there, not well enough. I have a few XPACT

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Speaker 4: clients so kind of know a little bit, but not

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Speaker 4: enough to advise properly. But talk to an accountant. If

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Speaker 4: you are based as a tax resident in Australia, it's

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Speaker 4: very likely that any income you earned because you didn't

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Speaker 4: spend any time in the other country is taxable based

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Speaker 4: on Australia's tax law. So it would all be about

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Speaker 4: trusts and how that's held and what that looks like,

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Speaker 4: and like getting the right structure as well as the

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Speaker 4: right property purchase. So like first thing I'd look at

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Speaker 4: is accountant that's good with expats, that can tell you

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Speaker 4: about the structure that you would need to be successful

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Speaker 4: in that venture.

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Speaker 2: Good to know, yep, sorry side note, No, no, no,

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Speaker 2: that's good to know because, like I said, it's a

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Speaker 2: very long distance dream at this stage, but with how

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Speaker 2: fast time flies, I feel like it's going to be

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Speaker 2: here before you know it.

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Speaker 4: And exactly twenty twenty was yesterday, exactly.

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Speaker 2: We just need to get our ducks in a row.

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Speaker 2: So good to know, thank you.

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Speaker 4: But that's really fun and that could be like a

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Speaker 4: fun adventure to go on, depending on what the financials

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Speaker 4: around it are. So big money goal is potentially owning

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Speaker 4: overseas property. What other goals are you currently working towards?

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Speaker 2: I think just getting ourselves to that point. I've always

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Speaker 2: said that I don't want to work past fifty. I

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Speaker 2: don't know whether that's going to eventuate or not, but

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Speaker 2: I'm trying really hard. I'm trying really hard. Yeah, I

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Speaker 2: don't want to be working until I'm sixty seven. I

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Speaker 2: don't want to do that.

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Speaker 4: I get that. All right, Let's go to a quick

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Speaker 4: break because on the flip side, I want to know

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Speaker 4: a little bit more about this plan to hopefully retire

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Speaker 4: before fifty. And also I need to ask you about investments,

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Speaker 4: because you can't just say, oh, we just settled like

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Speaker 4: or we're settling next week on an investment property and

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Speaker 4: I am not asking you about the numbers. So let's

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Speaker 4: get into that after this break. All right, we are

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Speaker 4: back money Rust, and I feel like this is a

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Speaker 4: really fun money story. Like you took a massive risk,

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Speaker 4: you moved from where you were living towards the beach,

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Speaker 4: your husband didn't have a job, you were working on

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Speaker 4: a temporary contract, and you've kind of had debt and

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Speaker 4: no clue about money, and you've gone in the last

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Speaker 4: five years. You have your family home, you have savings,

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Speaker 4: you're consistently investing, which by the way, I can't wait

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Speaker 4: to dive into. And you just bought your investment property. Like, sorry,

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Speaker 4: that's a good deal. And we just learned that you

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Speaker 4: have a household income of around one hundred and eighty

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Speaker 4: thousand dollars, which I would say is very relatable. So

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Speaker 4: I need to dig into this a little bit deeper.

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Speaker 4: Let's start with the investment property. What does it cost

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Speaker 4: to get into an investment property? Like, tell me all

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Speaker 4: the nitty gritty.

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Speaker 2: Well, we bought our investment property, and it's probably in

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Speaker 2: a little bit of a rural area. We paid four

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Speaker 2: hundred and ten thousand, and I think just based where

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Speaker 2: it is. I was having a chat with the real

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Speaker 2: estate agent and she put me in contact with somebody

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Speaker 2: else who said that they could probably lease it for

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Speaker 2: about five sixty to five sec. Yeah, a week. So

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Speaker 2: that's where we're at with the investment property.

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Speaker 4: And how are you feeling about that?

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Speaker 2: I am excited, I am excited. I'm quite proud of

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Speaker 2: us for achieving this and coming this far. But again,

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Speaker 2: I still have no real idea of what we're doing

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Speaker 2: or how we're going to make it work. But yeah,

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Speaker 2: I guess we will sort of just learn as we

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Speaker 2: go along.

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Speaker 4: And I feel like just doing some really quick maths

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Speaker 4: off the top of my head. If you purchase for

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Speaker 4: four hundred and ten thousand dollars and then you said

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Speaker 4: that you were leasing it out, was it five sixty

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Speaker 4: a week?

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Speaker 2: Yeah, that's the hope.

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Speaker 4: That's very nice because that's a rental yield of around

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Speaker 4: seven just over seven percent, So that is, from my

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Speaker 4: perspective as an ex financial advisor, pretty good. Damn rental property.

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Speaker 4: Was that something that you were quite strategic about, because

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Speaker 4: like rental yield, Like, if anybody's talking about rental properties,

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Speaker 4: I don't care what it looks like. If you're like, oh,

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Speaker 4: it's beautiful Victoria, it's got a bath, I get in

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Speaker 4: the bin. I don't even care. We are talking about

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Speaker 4: rental yield and creating wealth. We're not talking about our

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Speaker 4: family home. We're talking about the amenities of the apartment

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Speaker 4: block that you're buying in. I just want to know,

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Speaker 4: can we secure good long term tenants? Can we look

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Speaker 4: after them? And can I get a good rental yield

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Speaker 4: on that property? Sorry, if you put a property and

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Speaker 4: in front of me and said they cover up four ten,

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Speaker 4: it'll pay seven percent. Okay, take my money. That's a

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Speaker 4: good deal. That's a good deal. So I see why

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Speaker 4: you've jumped into this. Did you have advice for this?

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Speaker 4: Did you go shopping for this?

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Speaker 2: How?

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Speaker 1: Oh?

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Speaker 2: Well, I've done a lot of this off my own back.

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Speaker 2: I've done a lot of research. I spoke to a

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Speaker 2: lot of people.

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Speaker 4: See you said you don't know what you're doing in

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Speaker 4: the first half of this episode, and I'm uncovering that

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Speaker 4: maybe you're the mastermind behind all of it.

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Speaker 2: Don't not a mastermind? I wouldn't say that. Oh my goodness,

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Speaker 2: but I'd like to do the research first. I questioned

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Speaker 2: my decision when I finally make it, and you know,

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Speaker 2: I wonder, Oh, it's just the right thing to do.

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Speaker 2: You know what if I have made the wrong choice.

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Speaker 2: But I was looking, well, we were looking for investment

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Speaker 2: properties every state of this country, everywhere like you name it.

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Speaker 2: That's where we were looking. And we eventually settled on

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Speaker 2: where we bought the property. And I think a little

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Speaker 2: bit of it was luck, A little bit of it

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Speaker 2: was planning.

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Speaker 4: It's really funny how the more planning you do, the

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Speaker 4: luckier you get, isn't it.

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Speaker 2: Well maybe if that's the way it goes. I love that.

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Speaker 4: I feel like it's actually not luck. It's all strategy

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Speaker 4: and just like waiting and like people think they get lucky.

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Speaker 4: It's like, I think that we create our own luck,

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Speaker 4: and I think that putting it down to luck it

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Speaker 4: diminishes all that research that you did, because like, if

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Speaker 4: it was luck, you would have just pulled an investment

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Speaker 4: property out of the hat and be like, it's so

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Speaker 4: lucky we got one. No, that seven point one percent

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Speaker 4: gross yield is very attractive.

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Speaker 2: Yeah, good point.

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Speaker 4: We're not lucky, we're strategic. We are strategic, so you

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Speaker 4: don't have to obviously tell me more about that. So

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Speaker 4: four hundred and ten thousand dollars purchase price, what type

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Speaker 4: of deposit did you have to cough up for that?

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Speaker 2: So we had to pull a bit of equity from

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Speaker 2: our residential property where we live, and I don't exactly

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Speaker 2: know how our broker worked out the numbers, but we

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Speaker 2: ended up pulling a hundre thirty five thousand from our

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Speaker 2: mortgage and we use that as a deposit.

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Speaker 4: Yep, good deal. And that's a good deal. So you

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Speaker 4: didn't have to cough up any actual heart cash. You

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Speaker 4: just worked on equity. Now, you would have purchased that

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Speaker 4: property that we're talking about, this family home, within the

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Speaker 4: last five years. When did you purchase your family home?

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Speaker 4: Was I in twenty twenty when you moved to the beach?

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Speaker 2: No, that was in twenty twenty one.

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Speaker 4: Okay, so I've just got questions, good questions, I promise.

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Speaker 4: How much did you purchase your family home for?

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Speaker 2: We purchased it for seven hundred and forty six thousand.

403
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Speaker 2: When we sold our house to move to the beach.

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Speaker 2: We had a nice little profit at that time, and

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Speaker 2: I think it was the profit that we made from

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Speaker 2: that house was about one hundred and thirty thousand, which

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Speaker 2: we used to put down on our house that we

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Speaker 2: live in now. Yeah.

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Speaker 4: Yeah, So you purchased that for seven hundred and forty

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Speaker 4: six thousand dollars and now four ish years later, you've

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Speaker 4: bought an investment property, which tells me you would probably

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Speaker 4: have a recent bank valuation on the property that you

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Speaker 4: live in. What is it worth today?

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Speaker 2: I checked just the other day and it was just

415
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Speaker 2: over the mill. Oh excuse me, yeah, I think it

416
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Speaker 2: was like a million and sixty thousand or something like that.

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Speaker 4: That is a money win. So you've increased your equity

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Speaker 4: in your property within four years by like a literally

419
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Speaker 4: quarter of a million dollars money win, and then you

420
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Speaker 4: were able to use that to get into your next property.

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Speaker 4: If I go back to the end of twenty twenty,

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Speaker 4: when you took that really big leap of faith and

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Speaker 4: say we're moving to the beach, and I got to

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Speaker 4: be like, hey, so money diarist, you will have purchased

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Speaker 4: your property. You would have like about two hundred I

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Speaker 4: reckon in my head, just doing some mass you probably

427
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Speaker 4: had about two hundred thousand dollars worth of equity. You'll

428
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Speaker 4: take out one hundred and thirty and buy your first

429
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Speaker 4: investment property. Is that the reality you saw happening for you?

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Speaker 2: You got at all? Oh my goodness, not at all.

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Speaker 2: Like like I said when I wrote in we were

432
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Speaker 2: in debt, like we had two car loans. Oh sorry,

433
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Speaker 2: maybe we just had one car loan at the time,

434
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Speaker 2: but we were terrible with money. The only way I

435
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Speaker 2: thought that we could get ahead would be to take

436
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Speaker 2: a loan out or redraw on the mortgage, or we

437
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Speaker 2: had no savings whatsoever, like at that time, we were

438
00:20:09,600 --> 00:20:10,440
Speaker 2: living week to week.

439
00:20:10,800 --> 00:20:13,240
Speaker 4: This makes me so excited you've done all of this.

440
00:20:13,920 --> 00:20:16,360
Speaker 2: Yeah, it's quite exciting and heartwarming when you actually say

441
00:20:16,359 --> 00:20:18,520
Speaker 2: it out loud, like you it's your lived experience.

442
00:20:18,560 --> 00:20:20,960
Speaker 4: But you don't really you don't give yourself credit. No

443
00:20:21,040 --> 00:20:21,760
Speaker 4: one ever does.

444
00:20:22,160 --> 00:20:25,640
Speaker 2: Yeah, so I guess too. We have higher paying jobs

445
00:20:25,680 --> 00:20:27,600
Speaker 2: than we did back then as well, I suppose, which

446
00:20:27,680 --> 00:20:30,560
Speaker 2: obviously helps. But it was the podcast one of my

447
00:20:30,600 --> 00:20:32,960
Speaker 2: good friends, was it actually Yeah, yeah, so one of

448
00:20:32,960 --> 00:20:34,920
Speaker 2: my good friends. She's the only person I told that

449
00:20:34,960 --> 00:20:37,320
Speaker 2: I was coming on the show, So shout out to you. Gosh,

450
00:20:37,440 --> 00:20:38,159
Speaker 2: she knows who she is.

451
00:20:38,280 --> 00:20:41,560
Speaker 4: Hi, friend, Hi, thank you for introducing my newest friend

452
00:20:41,560 --> 00:20:41,760
Speaker 4: to me.

453
00:20:42,000 --> 00:20:44,800
Speaker 2: She got me onto you and your podcast and the

454
00:20:44,840 --> 00:20:47,440
Speaker 2: way that it was explained on She's on the Money,

455
00:20:47,480 --> 00:20:49,120
Speaker 2: I'm like, oh my gosh, it just makes so much sense.

456
00:20:49,119 --> 00:20:50,640
Speaker 4: It doesn't have to be that deep, does her.

457
00:20:50,880 --> 00:20:53,919
Speaker 2: No, And when it makes sense and it's simplified, it

458
00:20:53,960 --> 00:20:56,960
Speaker 2: gives you the drive to go out and do it,

459
00:20:57,000 --> 00:20:59,560
Speaker 2: to save your money and to be more strategic with

460
00:20:59,600 --> 00:21:01,240
Speaker 2: where you place your money in what you're spending it on,

461
00:21:01,359 --> 00:21:05,040
Speaker 2: and yeah, that's just I never thought that we would

462
00:21:05,160 --> 00:21:08,879
Speaker 2: be here and have that amount of money like just

463
00:21:09,400 --> 00:21:12,320
Speaker 2: there and available, like the equity in our property. Like

464
00:21:12,359 --> 00:21:14,080
Speaker 2: I never thought, what does that feel like?

465
00:21:14,440 --> 00:21:17,280
Speaker 4: Because I feel like when you're just like because at

466
00:21:17,320 --> 00:21:20,080
Speaker 4: the time, back in twenty twenty, you honestly, like I

467
00:21:20,480 --> 00:21:21,840
Speaker 4: can see, you were just doing the best that your

468
00:21:21,840 --> 00:21:24,160
Speaker 4: bloody could. You're like, let's move the family to the beach.

469
00:21:24,200 --> 00:21:26,320
Speaker 4: That'll be a really good decision. Like you had a mortgage,

470
00:21:26,359 --> 00:21:28,439
Speaker 4: so like you were in an okay position, but you

471
00:21:28,480 --> 00:21:30,800
Speaker 4: still had debt, you still had your car loan, all

472
00:21:30,840 --> 00:21:33,679
Speaker 4: of that. That can feel overwhelming, and I think it

473
00:21:33,920 --> 00:21:37,159
Speaker 4: puts a lot more of a at tax on your

474
00:21:37,160 --> 00:21:39,119
Speaker 4: well being than you think because you go, oh, well

475
00:21:39,119 --> 00:21:40,800
Speaker 4: the debt doesn't matter, like we need the car, we'll

476
00:21:40,840 --> 00:21:43,320
Speaker 4: pay it off one day, like Victoria, it's not that deep.

477
00:21:43,600 --> 00:21:45,880
Speaker 4: But like if you compare your well being to now

478
00:21:46,200 --> 00:21:49,000
Speaker 4: from then, what kind of change does that look like?

479
00:21:49,080 --> 00:21:51,280
Speaker 4: Are you just like a bit more comfortable? You're like, no,

480
00:21:51,359 --> 00:21:53,640
Speaker 4: I'm still stressing, Like where are we at?

481
00:21:53,720 --> 00:21:55,720
Speaker 2: That was a pivotal moment, I think, and I think

482
00:21:55,720 --> 00:21:59,240
Speaker 2: that had to happen for us, for the change to happen.

483
00:22:00,119 --> 00:22:02,159
Speaker 2: I mean, don't get me wrong, I still get worried

484
00:22:02,200 --> 00:22:04,720
Speaker 2: and I still stress a little bit internally when it

485
00:22:04,760 --> 00:22:07,320
Speaker 2: comes to finance. Is I just like I've got my

486
00:22:07,359 --> 00:22:10,880
Speaker 2: budget scribbled down on this little piece of paper, like

487
00:22:11,200 --> 00:22:12,280
Speaker 2: with highlighted.

488
00:22:12,480 --> 00:22:13,280
Speaker 4: Is that your budget?

489
00:22:13,400 --> 00:22:14,840
Speaker 2: That's my budget? Can I glow that up?

490
00:22:14,880 --> 00:22:17,080
Speaker 4: I'm going to gift you my money masterclass, Like, that's

491
00:22:17,080 --> 00:22:18,919
Speaker 4: not your budget anymore. I'm going to gift you my

492
00:22:18,960 --> 00:22:21,239
Speaker 4: money with master Class. And you're going to do that

493
00:22:21,280 --> 00:22:23,000
Speaker 4: and you're going to put everything in there, and then

494
00:22:23,000 --> 00:22:25,280
Speaker 4: it's going to tell you exactly what bank account you

495
00:22:25,280 --> 00:22:27,280
Speaker 4: need to put things in, what your mortgages are going

496
00:22:27,320 --> 00:22:28,960
Speaker 4: to look like. It's going to clean all of that up.

497
00:22:29,040 --> 00:22:31,920
Speaker 4: That is cute, I promise that is cute. Like, guys,

498
00:22:31,960 --> 00:22:33,640
Speaker 4: she just held up to the screen and I can't

499
00:22:33,680 --> 00:22:36,560
Speaker 4: show you. It's like a notebook with all like pen writing,

500
00:22:36,640 --> 00:22:40,600
Speaker 4: but like color coordinated highlighterup, very very cute. But I

501
00:22:40,600 --> 00:22:42,800
Speaker 4: can glow that up easily. I can help look.

502
00:22:42,920 --> 00:22:44,560
Speaker 2: Thank you, Oh my gosh, it brought tears to my eyes.

503
00:22:44,560 --> 00:22:45,639
Speaker 2: Thank you so being silly.

504
00:22:45,760 --> 00:22:48,359
Speaker 4: And also, what a better time to redo your budget

505
00:22:48,400 --> 00:22:50,600
Speaker 4: than right before your new property settles, so you know

506
00:22:50,680 --> 00:22:54,120
Speaker 4: exactly what's coming out, and it's automated. I don't want

507
00:22:54,119 --> 00:22:56,280
Speaker 4: to flex it too much, but like, all you have

508
00:22:56,320 --> 00:22:58,200
Speaker 4: to do is put in your costs and then I've

509
00:22:58,200 --> 00:23:01,320
Speaker 4: written all of the like coding in the background so

510
00:23:01,359 --> 00:23:03,480
Speaker 4: that it just automatically will be like, Okay, well this

511
00:23:03,520 --> 00:23:06,480
Speaker 4: percentage of your income goes here in this and yeah,

512
00:23:06,640 --> 00:23:08,960
Speaker 4: you're going to be fine. This is going to be great.

513
00:23:09,160 --> 00:23:11,040
Speaker 2: Thank you so much. That is so kind.

514
00:23:11,160 --> 00:23:12,200
Speaker 4: So tell me a bit more.

515
00:23:12,320 --> 00:23:12,399
Speaker 2: So.

516
00:23:12,440 --> 00:23:15,439
Speaker 4: We've got the investment property, We've got some equity in

517
00:23:15,480 --> 00:23:18,880
Speaker 4: our family home. You said that you're consistently investing though,

518
00:23:18,920 --> 00:23:21,040
Speaker 4: so have you got a share portfolio? What's going on there?

519
00:23:21,119 --> 00:23:22,240
Speaker 2: I have a Shara's account.

520
00:23:22,240 --> 00:23:25,320
Speaker 4: I'll stop it, of course you do again started by

521
00:23:25,359 --> 00:23:27,359
Speaker 4: you girls. We try, we try. We're trying to be

522
00:23:27,440 --> 00:23:29,600
Speaker 4: like a cult. But as I was saying to my team,

523
00:23:29,760 --> 00:23:32,160
Speaker 4: we need to like become the Pyramid scheme or something,

524
00:23:32,200 --> 00:23:33,520
Speaker 4: because this is not profitable.

525
00:23:35,680 --> 00:23:36,919
Speaker 2: Yeah, you got to make a buck out of this.

526
00:23:36,960 --> 00:23:38,679
Speaker 4: Yeah, Like we've got to really find a way to

527
00:23:38,680 --> 00:23:41,359
Speaker 4: take advantage instead of just making people take advantage of

528
00:23:41,359 --> 00:23:45,680
Speaker 4: their own situations. So you've got your share Za's account

529
00:23:45,680 --> 00:23:46,919
Speaker 4: and what does that look like?

530
00:23:47,240 --> 00:23:50,680
Speaker 2: So we invest. Obviously, my husband and my pay is combined,

531
00:23:50,720 --> 00:23:52,800
Speaker 2: so this is not just all my pay it is.

532
00:23:53,760 --> 00:23:56,920
Speaker 2: So we invest one hundred dollars a fortnight in two

533
00:23:56,960 --> 00:24:00,400
Speaker 2: Chareza's I started it way way back when and share

534
00:24:00,440 --> 00:24:02,520
Speaker 2: these first kame on the podcast and I think I

535
00:24:02,560 --> 00:24:04,480
Speaker 2: may have like fifty dollars in there, and I just

536
00:24:04,520 --> 00:24:06,080
Speaker 2: let it sit and I was just like, oh whatever,

537
00:24:06,440 --> 00:24:09,000
Speaker 2: But then I continued to listen and again it reignited

538
00:24:09,000 --> 00:24:10,400
Speaker 2: like the flame in my belly. I'm like, I got

539
00:24:10,440 --> 00:24:12,600
Speaker 2: to do this. Let's get back on the investing train.

540
00:24:12,720 --> 00:24:15,840
Speaker 2: So yes, we invest one hundred dollars a fortnight. And

541
00:24:15,840 --> 00:24:17,720
Speaker 2: that's I mean, it's nothing big. It's sitting at about

542
00:24:17,720 --> 00:24:18,639
Speaker 2: three and a half thousand.

543
00:24:18,840 --> 00:24:21,800
Speaker 4: Sorry, that is massive. You are consistently investing. You just

544
00:24:21,840 --> 00:24:23,439
Speaker 4: told me you're a mum of a ten and a

545
00:24:23,480 --> 00:24:25,680
Speaker 4: thirteen year old, you have a family income of about

546
00:24:25,680 --> 00:24:27,639
Speaker 4: one hundred and eighty thousand dollars. You've got one mooad

547
00:24:27,680 --> 00:24:30,600
Speaker 4: you're about to take on another. Sorry, that is really good.

548
00:24:30,960 --> 00:24:34,000
Speaker 4: What types of investments are you picking up on that platform?

549
00:24:34,080 --> 00:24:36,560
Speaker 4: You're doing ETFs you're doing direct shares, Like, where are

550
00:24:36,600 --> 00:24:37,960
Speaker 4: you getting this advice from you?

551
00:24:38,480 --> 00:24:39,560
Speaker 5: I'm getting the advice from you.

552
00:24:39,680 --> 00:24:42,120
Speaker 4: No, no, no, no, no no, let's backtrack. I would never give

553
00:24:42,119 --> 00:24:45,119
Speaker 4: you advice on what to pick, but I would present

554
00:24:45,160 --> 00:24:47,880
Speaker 4: a number of options and then you picked. Why did

555
00:24:47,880 --> 00:24:49,439
Speaker 4: you pick the ones that you picked?

556
00:24:49,760 --> 00:24:52,719
Speaker 2: Well, just by listening to the podcast, the ETFs are

557
00:24:52,760 --> 00:24:56,160
Speaker 2: obviously a mixed bag, a mix bucket of a little

558
00:24:56,200 --> 00:24:59,800
Speaker 2: sample pack of everything. So that's what I decided to

559
00:24:59,840 --> 00:25:00,600
Speaker 2: go with.

560
00:25:01,160 --> 00:25:01,760
Speaker 5: So I've got.

561
00:25:01,600 --> 00:25:08,399
Speaker 2: A I think maybe three three ETFs with Australian chairs.

562
00:25:08,520 --> 00:25:12,200
Speaker 2: I think I might have two or three with international

563
00:25:12,280 --> 00:25:14,040
Speaker 2: shares ETFs, and.

564
00:25:14,000 --> 00:25:16,240
Speaker 5: Then I think I've got one more. I've got one

565
00:25:16,240 --> 00:25:17,359
Speaker 5: with common.

566
00:25:17,119 --> 00:25:20,200
Speaker 2: Wealth that's their direct share with them. And then there's

567
00:25:20,240 --> 00:25:23,320
Speaker 2: something else that I just took a random punt on.

568
00:25:23,520 --> 00:25:25,119
Speaker 4: See, I love this. This is where it gets a

569
00:25:25,160 --> 00:25:26,359
Speaker 4: little bit fun, right.

570
00:25:26,800 --> 00:25:28,119
Speaker 5: It was like two dollars a share. I was like,

571
00:25:28,200 --> 00:25:29,560
Speaker 5: let's let's just see how this goes.

572
00:25:30,200 --> 00:25:31,280
Speaker 4: That's cheaper than milk.

573
00:25:31,720 --> 00:25:33,960
Speaker 5: It is cheaper than milk, yes, and it's we're in

574
00:25:34,000 --> 00:25:34,359
Speaker 5: the green.

575
00:25:34,520 --> 00:25:36,320
Speaker 4: I love this for us And what made you want

576
00:25:36,359 --> 00:25:37,280
Speaker 4: to invest in that one?

577
00:25:37,440 --> 00:25:38,560
Speaker 5: I just saw it and I was like, oh, yeah,

578
00:25:38,560 --> 00:25:38,840
Speaker 5: why not.

579
00:25:39,400 --> 00:25:41,800
Speaker 4: I love that for us. All right, so we're going

580
00:25:41,840 --> 00:25:43,879
Speaker 4: to flip back around and talk about debt again. So

581
00:25:43,920 --> 00:25:45,800
Speaker 4: we know that you've got that four hundred and ten

582
00:25:45,880 --> 00:25:48,199
Speaker 4: thousand dollars mortgage. What do you still owe on your

583
00:25:48,240 --> 00:25:48,920
Speaker 4: family home?

584
00:25:49,040 --> 00:25:52,840
Speaker 2: We oh, I checked yesterday and it was five hundred

585
00:25:52,880 --> 00:25:54,520
Speaker 2: and sixty three thousand.

586
00:25:54,800 --> 00:25:58,359
Speaker 4: Okay, that's very nice to have purchased at seven hundred

587
00:25:58,400 --> 00:26:00,120
Speaker 4: and forty six. And you said you had a deposit

588
00:26:00,160 --> 00:26:02,760
Speaker 4: of about one thirty to be down to five sixty three.

589
00:26:03,680 --> 00:26:06,000
Speaker 4: Have you guys aggressively been paying that off or like

590
00:26:06,080 --> 00:26:07,400
Speaker 4: really prioritizing it.

591
00:26:07,600 --> 00:26:08,320
Speaker 5: Yeah, we have.

592
00:26:08,760 --> 00:26:11,199
Speaker 2: It would have been probably a little bit less, but

593
00:26:11,320 --> 00:26:14,359
Speaker 2: we took some money out. We redrew some money to

594
00:26:14,400 --> 00:26:15,639
Speaker 2: go on an overseas holiday for.

595
00:26:15,680 --> 00:26:18,360
Speaker 5: My husband's birthday. So that's what we did. But yeah,

596
00:26:18,560 --> 00:26:21,440
Speaker 5: essentially what we do is we live off my husband's.

597
00:26:21,000 --> 00:26:25,320
Speaker 2: Pay, and my pay just purely goes straight to the mortgage.

598
00:26:25,400 --> 00:26:28,440
Speaker 4: I love that. So is that something that you guys

599
00:26:28,480 --> 00:26:31,480
Speaker 4: are consciously doing so that you get closer to retiring

600
00:26:31,520 --> 00:26:33,960
Speaker 4: at fifty ish? Because I know that you said, look,

601
00:26:33,960 --> 00:26:36,280
Speaker 4: I really don't want to work till i'm sixty seven

602
00:26:36,320 --> 00:26:39,000
Speaker 4: in the first half of this episode, and like, I

603
00:26:39,080 --> 00:26:41,560
Speaker 4: just feel like the more I'm digging into your little

604
00:26:41,560 --> 00:26:44,080
Speaker 4: financial situation, the more I'm like, Oh, she's good. Oh

605
00:26:44,119 --> 00:26:47,679
Speaker 4: she's good. So what does that look like to potentially

606
00:26:47,680 --> 00:26:49,160
Speaker 4: be retiring at fifty?

607
00:26:49,520 --> 00:26:53,120
Speaker 2: Well, before we decided to take on the investment property,

608
00:26:53,359 --> 00:26:56,760
Speaker 2: I crunch some numbers, and if I've worked it out right,

609
00:26:56,800 --> 00:26:59,199
Speaker 2: we would have with what I was just getting paid

610
00:26:59,520 --> 00:27:02,159
Speaker 2: going straight onto the mortgage, we would have had that

611
00:27:02,240 --> 00:27:06,679
Speaker 2: paid out in either ten to eleven years. So that

612
00:27:06,720 --> 00:27:10,480
Speaker 2: would mean I am not fifty. But now that we've

613
00:27:10,480 --> 00:27:14,480
Speaker 2: taken on the investment property, the broker that we're working with,

614
00:27:14,520 --> 00:27:15,680
Speaker 2: he's really lovely love.

615
00:27:15,920 --> 00:27:16,160
Speaker 5: Yeah.

616
00:27:16,160 --> 00:27:18,679
Speaker 2: So he's saying to us that with the way that

617
00:27:18,680 --> 00:27:22,080
Speaker 2: we can structure the loans, we could potentially have our

618
00:27:22,240 --> 00:27:25,880
Speaker 2: property paid off in less time than that. So yeah, again,

619
00:27:25,920 --> 00:27:28,879
Speaker 2: it's just working all of that out and finding our groove.

620
00:27:28,880 --> 00:27:31,919
Speaker 4: Love love, And I feel like that's exactly how you

621
00:27:31,960 --> 00:27:33,520
Speaker 4: have to do it. You can't just like sort it

622
00:27:33,520 --> 00:27:35,240
Speaker 4: out all in a day, like takes a little bit

623
00:27:35,280 --> 00:27:39,440
Speaker 4: of strategy. While we're still on their like investment debt conversation.

624
00:27:40,160 --> 00:27:43,360
Speaker 4: You work for a higher education institution and you get

625
00:27:43,440 --> 00:27:46,400
Speaker 4: seventeen percent super. Talk to me about your super? What's

626
00:27:46,400 --> 00:27:47,000
Speaker 4: that looking like?

627
00:27:47,200 --> 00:27:49,439
Speaker 2: I'm actually quite proud of this because I didn't realize

628
00:27:49,480 --> 00:27:51,960
Speaker 2: how good it was until I started listening to the

629
00:27:51,960 --> 00:27:55,160
Speaker 2: podcast and you were giving averages of like people women

630
00:27:55,240 --> 00:27:59,480
Speaker 2: in my age group where our supers should be. But yeah,

631
00:27:59,560 --> 00:28:03,520
Speaker 2: check yours and I have two hundred and fifty six thousand.

632
00:28:03,359 --> 00:28:06,520
Speaker 4: Two hundred and fifty six thousand dollars in super. What

633
00:28:06,560 --> 00:28:09,440
Speaker 4: have you been doing? Have you been like additionally contributing?

634
00:28:09,480 --> 00:28:12,000
Speaker 4: Have you been working three jobs? Have you been doing backflips?

635
00:28:12,080 --> 00:28:12,199
Speaker 2: Like?

636
00:28:12,240 --> 00:28:13,159
Speaker 4: What have you been doing?

637
00:28:13,320 --> 00:28:15,640
Speaker 5: To be honest, I don't really know how it got there.

638
00:28:16,080 --> 00:28:18,560
Speaker 4: Compound interest, baby, because if it was like less than

639
00:28:18,560 --> 00:28:20,240
Speaker 4: ten years ago, it would have been half that I

640
00:28:20,240 --> 00:28:21,320
Speaker 4: can always guarantee.

641
00:28:21,440 --> 00:28:23,760
Speaker 2: Yeah, I think you know, I'm sort of at that

642
00:28:23,800 --> 00:28:25,720
Speaker 2: age where it really starts to kick in, the compound

643
00:28:25,760 --> 00:28:29,320
Speaker 2: interest really starts to kick in. But I have added

644
00:28:29,359 --> 00:28:33,320
Speaker 2: voluntary contributions and I have for most of my working career,

645
00:28:33,400 --> 00:28:36,240
Speaker 2: but it's never really been huge amounts.

646
00:28:36,240 --> 00:28:37,560
Speaker 5: It was, you know, sort of fifty dollars.

647
00:28:37,359 --> 00:28:40,200
Speaker 4: A year, hundred dollars Dad up, didn't that it does

648
00:28:40,360 --> 00:28:42,920
Speaker 4: it really does. You don't notice at the time and

649
00:28:43,000 --> 00:28:46,000
Speaker 4: you think this is fruitless, but one hundred dollars here

650
00:28:46,040 --> 00:28:48,400
Speaker 4: and there, I promise puts you in a better position.

651
00:28:48,640 --> 00:28:52,040
Speaker 4: So to contextualize that for everybody listening, the average superannuation

652
00:28:52,240 --> 00:28:54,400
Speaker 4: balance for someone between the age of thirty five and

653
00:28:54,440 --> 00:28:57,480
Speaker 4: thirty nine, and you are thirty six money diarists is

654
00:28:57,520 --> 00:28:59,840
Speaker 4: seventy one thousand, six hundred and eighty six dollars if

655
00:28:59,880 --> 00:29:03,560
Speaker 4: you're a female and nine eight hundred and twenty two

656
00:29:03,680 --> 00:29:06,000
Speaker 4: dollars if you're a male. And you are running rings

657
00:29:06,000 --> 00:29:06,920
Speaker 4: around both of those.

658
00:29:07,200 --> 00:29:09,720
Speaker 5: Yeah, yeah, I'm quite proud of that one.

659
00:29:09,720 --> 00:29:12,640
Speaker 4: I must admit love and to be a little bit pervy.

660
00:29:12,880 --> 00:29:15,320
Speaker 4: Do you and your husband talk about superannuation as a

661
00:29:15,320 --> 00:29:17,720
Speaker 4: retirement strategy? If so, what does his look like?

662
00:29:18,520 --> 00:29:20,040
Speaker 5: Is less than mine?

663
00:29:20,080 --> 00:29:21,960
Speaker 4: We love to see women in stam.

664
00:29:22,440 --> 00:29:27,480
Speaker 2: Yeah, we do talk about super often, and it obviously

665
00:29:27,520 --> 00:29:29,520
Speaker 2: will be a part of our retirement plan.

666
00:29:29,400 --> 00:29:31,960
Speaker 4: But not the sole INTI well, you can't access it

667
00:29:31,960 --> 00:29:34,480
Speaker 4: at fifty, so it can't be your entire retirement plan.

668
00:29:35,240 --> 00:29:38,200
Speaker 2: And you know that was part of my money story

669
00:29:38,240 --> 00:29:40,520
Speaker 2: I think with my mum and dad was you know,

670
00:29:40,720 --> 00:29:42,479
Speaker 2: buy house you're living at your retire and you live

671
00:29:42,520 --> 00:29:44,440
Speaker 2: off your super I think gone are the days that

672
00:29:44,840 --> 00:29:45,960
Speaker 2: we can do that.

673
00:29:46,080 --> 00:29:49,480
Speaker 4: It's heartbreaking, isn't it. It just doesn't work that way anymore. Yeah,

674
00:29:49,520 --> 00:29:51,360
Speaker 4: And that's why we have to kind of pivot and

675
00:29:51,400 --> 00:29:54,200
Speaker 4: really think about what other investment opportunities are out there.

676
00:29:54,280 --> 00:29:56,560
Speaker 4: Should I have an investment portfolio, Should I be looking

677
00:29:56,560 --> 00:29:58,760
Speaker 4: at an investment property? How can I get myself ahead?

678
00:29:58,800 --> 00:30:01,040
Speaker 4: And it looks like you are, like that is so

679
00:30:01,160 --> 00:30:04,959
Speaker 4: flipping exciting. Talk to me about your best money habit though,

680
00:30:04,960 --> 00:30:07,120
Speaker 4: because I feel like you're another quiet achiever. Like if

681
00:30:07,120 --> 00:30:08,800
Speaker 4: I was going to put you in a bucket, you'd

682
00:30:08,800 --> 00:30:10,280
Speaker 4: be like, oh no, I'm not that good. And I

683
00:30:10,320 --> 00:30:12,080
Speaker 4: feel like we're about to have an argument as well,

684
00:30:12,120 --> 00:30:14,200
Speaker 4: which is going to be really fun time. You're a

685
00:30:14,280 --> 00:30:17,200
Speaker 4: quiet achiever. You we're like, oh, I'm a be but like, girl, sorry,

686
00:30:17,400 --> 00:30:20,600
Speaker 4: you've gone in the last five years from not having

687
00:30:20,600 --> 00:30:22,479
Speaker 4: your dream home to having your dream home, having an

688
00:30:22,520 --> 00:30:24,800
Speaker 4: investment property, being able to use equity to do that.

689
00:30:24,960 --> 00:30:27,360
Speaker 4: You've got two hundred and fifty six thousand dollars in soupers,

690
00:30:27,360 --> 00:30:29,440
Speaker 4: so dollars, what are your good money habits?

691
00:30:30,960 --> 00:30:33,240
Speaker 5: I think I've thought long and hard about this one.

692
00:30:33,240 --> 00:30:36,040
Speaker 2: And I think my good money habit is also my

693
00:30:36,400 --> 00:30:37,360
Speaker 2: bad money habit.

694
00:30:37,720 --> 00:30:39,360
Speaker 5: It's the hyper focus.

695
00:30:39,600 --> 00:30:43,800
Speaker 2: It's the hyper focus on if I want to save

696
00:30:43,920 --> 00:30:46,680
Speaker 2: or if you're working towards a goal, I will move.

697
00:30:46,520 --> 00:30:47,800
Speaker 5: Heaven earth to make that happen.

698
00:30:48,040 --> 00:30:51,240
Speaker 2: So I think that that's yeah, that's also that's probably

699
00:30:51,280 --> 00:30:52,760
Speaker 2: my best money habit.

700
00:30:52,960 --> 00:30:55,120
Speaker 4: On the flip side, what are your bad money habit?

701
00:30:55,200 --> 00:30:58,120
Speaker 2: If I want something or if I see something, Say,

702
00:30:58,240 --> 00:30:59,640
Speaker 2: you know, I went and bought a new wall at

703
00:30:59,640 --> 00:31:01,800
Speaker 2: the other day. I didn't need any wallet, but I

704
00:31:01,840 --> 00:31:03,719
Speaker 2: was focused on it and I thought, I'm just going

705
00:31:03,760 --> 00:31:04,280
Speaker 2: to go get it.

706
00:31:04,720 --> 00:31:05,680
Speaker 5: So I do.

707
00:31:05,800 --> 00:31:09,640
Speaker 2: Try to put that twenty four hours in between my

708
00:31:09,720 --> 00:31:11,400
Speaker 2: spending and myself.

709
00:31:11,440 --> 00:31:13,480
Speaker 5: But sometimes I'm just like, Nope, you're going to do it.

710
00:31:13,560 --> 00:31:16,840
Speaker 4: No, Well, sometimes we're a little bit impulsive. But I

711
00:31:16,840 --> 00:31:18,520
Speaker 4: need to know a little bit more about this, be

712
00:31:18,720 --> 00:31:21,480
Speaker 4: at the very start, because I read you your money

713
00:31:21,480 --> 00:31:23,640
Speaker 4: story and you were like, oh, that's pretty impressive, let's

714
00:31:23,640 --> 00:31:26,840
Speaker 4: be honest, And I was like, absolutely, you have been

715
00:31:26,920 --> 00:31:30,520
Speaker 4: working really hard. You've got good incomes, you've got good superannuation,

716
00:31:31,240 --> 00:31:33,880
Speaker 4: you've got you know, your investment property, you've got your

717
00:31:33,920 --> 00:31:36,480
Speaker 4: family home. You're investing on the side. Literally, I can

718
00:31:36,520 --> 00:31:41,320
Speaker 4: see the budget really well, why not higher? And what

719
00:31:41,360 --> 00:31:43,680
Speaker 4: would make you hire? Like, what would you have to

720
00:31:43,720 --> 00:31:46,120
Speaker 4: be doing to be an a at money?

721
00:31:46,200 --> 00:31:51,720
Speaker 2: I think I would probably like to invest more maybe, Yeah,

722
00:31:51,880 --> 00:31:54,760
Speaker 2: just understand that a little bit better rather than just,

723
00:31:55,120 --> 00:31:57,680
Speaker 2: you know, just one hundred dollars afore and I just

724
00:31:57,800 --> 00:31:58,400
Speaker 2: keep putting it in.

725
00:31:58,400 --> 00:31:59,960
Speaker 5: I'd like to understand that a little bit more.

726
00:32:00,880 --> 00:32:04,560
Speaker 2: And I would also like to understand, like, although I

727
00:32:04,560 --> 00:32:07,440
Speaker 2: feel like I'm okay with a budget, just staying on

728
00:32:07,480 --> 00:32:09,160
Speaker 2: top of that because sometimes I feel like that can

729
00:32:09,280 --> 00:32:12,440
Speaker 2: sort of get away from me. Yeah, So just being

730
00:32:12,480 --> 00:32:14,680
Speaker 2: able to stay on top of that more, I think

731
00:32:15,160 --> 00:32:16,400
Speaker 2: would push me up. I love that.

732
00:32:16,520 --> 00:32:18,600
Speaker 4: And I feel like I'm semi helping here because I've

733
00:32:18,600 --> 00:32:21,280
Speaker 4: set you up with our money master class in the background,

734
00:32:21,360 --> 00:32:24,040
Speaker 4: and I feel like all of those things can basically

735
00:32:24,080 --> 00:32:26,280
Speaker 4: be solved, and so I'm very excited to see how

736
00:32:26,280 --> 00:32:26,920
Speaker 4: you go with this.

737
00:32:27,120 --> 00:32:29,000
Speaker 5: You're not semi helping, You're all the way helping.

738
00:32:29,680 --> 00:32:32,240
Speaker 4: Look, I'm really trying. I'm really trying, But at the

739
00:32:32,320 --> 00:32:34,160
Speaker 4: end of the day, you actually have to do the work.

740
00:32:34,280 --> 00:32:36,520
Speaker 4: So I made the spreadsheet, but you've actually got to

741
00:32:36,520 --> 00:32:38,360
Speaker 4: sit down. You've got to do the budget like you've

742
00:32:38,360 --> 00:32:40,160
Speaker 4: got a fility in and you've got to be consistent

743
00:32:40,200 --> 00:32:42,680
Speaker 4: with it. So like the work part, that's you, and

744
00:32:42,720 --> 00:32:44,920
Speaker 4: so I basically just gave you homework. So you're welcome.

745
00:32:46,480 --> 00:32:47,040
Speaker 5: Thanks teacher.

746
00:32:47,640 --> 00:32:49,840
Speaker 4: Oh my god, I have loved this money diary. Thank

747
00:32:49,880 --> 00:32:51,600
Speaker 4: you so much. I wish we had so much more

748
00:32:51,640 --> 00:32:54,000
Speaker 4: time because I feel like we could yap about literally

749
00:32:54,040 --> 00:32:56,800
Speaker 4: all of this until the cows come home. But I

750
00:32:56,840 --> 00:32:59,400
Speaker 4: really appreciated learning so much about your journey and just

751
00:32:59,400 --> 00:33:01,120
Speaker 4: what you're up to and how you're doing it, because

752
00:33:01,120 --> 00:33:03,520
Speaker 4: it's just really inspiring. So thank you so much.

753
00:33:03,720 --> 00:33:05,160
Speaker 5: Oh, thank you so much for having me.

754
00:33:05,480 --> 00:33:14,560
Speaker 4: Of course, the advice shared on She's on the Money

755
00:33:14,680 --> 00:33:18,440
Speaker 4: is general in nature and does not consider your individual circumstances.

756
00:33:18,800 --> 00:33:22,200
Speaker 4: She's on the Money exists purely for educational purposes and

757
00:33:22,240 --> 00:33:24,680
Speaker 4: should not be relied upon to make an investment or

758
00:33:24,760 --> 00:33:28,360
Speaker 4: financial decision. If you do choose to buy a financial product,

759
00:33:28,440 --> 00:33:32,400
Speaker 4: read the PDS TMD and obtain appropriate financial advice tailored

760
00:33:32,440 --> 00:33:35,920
Speaker 4: towards your needs. Victoria Divine and She's on the Money

761
00:33:35,960 --> 00:33:40,240
Speaker 4: are authorized representatives of Money Sheper Pty Ltd. A b

762
00:33:40,400 --> 00:33:43,480
Speaker 4: N three two one six four nine two seven seven

763
00:33:43,600 --> 00:33:48,040
Speaker 4: zero eight AFSL four five one two eight nine