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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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Speaker 1: and the storytelling of you to make a difference for

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money. 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: for millennials who want financial freedom. Welcome back to another

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Speaker 4: one of our money diaries where we get to talk

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Speaker 4: to one of our incredible She's on the Money community

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Speaker 4: members all about their money story and journey. Let's jump

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Speaker 4: straight into it because I got this very short, very

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Speaker 4: elusive message this week and I think it deserves to

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Speaker 4: be on the show. Hi, She's on the Money. I

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Speaker 4: have a question for you. Have you ever procrastinated a

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Speaker 4: university assignment so much that you ended up buying a

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Speaker 4: block of land instead. That's the whole submission, guys, and

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Speaker 4: I could not leave it alone. Money Diarist, welcome to

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Speaker 4: the show. I cannot wait to learn more about you

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Speaker 4: and your story.

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Speaker 3: To be fair, I was really trying to get under

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Speaker 3: the twenty five words. Make sure my submission was too long.

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Speaker 2: You got it, honestly.

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Speaker 4: Some people just completely disregard that, and I'm fine with

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Speaker 4: that too, Like I put it in there as a little.

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Speaker 2: Bit of a barrier.

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Speaker 4: But you know, like I've got ADHD, I'm gonna read

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Speaker 4: all of your stuff like I'm gonna read it, I'm

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Speaker 4: gonna look at it. But also because I've got ADHD.

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Speaker 4: The second you give me something elusive, I'm like, I

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Speaker 4: need to know more.

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Speaker 2: What do you mean? What do you mean you baiting me?

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Speaker 2: Did you click bait me in.

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Speaker 4: My own emails? I want to know first things first

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Speaker 4: before we get to learn about this elusive story of yours.

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Speaker 4: What grade would you give your money habits? If I

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Speaker 4: asked you to give them a grade from A through

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Speaker 4: to F.

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Speaker 3: I think I would probably give myself a B.

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Speaker 4: Is that because you like impulse by blocks of land?

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Speaker 4: Maybe words to learn more about your money?

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Speaker 2: Story.

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Speaker 3: Okay, so I have the nickname money Bags in my family.

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Speaker 2: Oh it must be nice. So you're little Richie rich.

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Speaker 3: Well, they all assume. So I have worked my entire

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Speaker 3: you know, fourteen nine months, I was legally on the books.

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Speaker 3: Before then, I was probably working within a family business.

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Speaker 2: I like that.

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Speaker 4: You're like, probably not going to confirm or deny that publicly.

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Speaker 3: Yeah, no comment. I've always been fascinated by money and savings.

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Speaker 3: So from a really young age where I had the choice,

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Speaker 3: and my Naan was probably a big driver in this.

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Speaker 3: She would say do you want the chocolate or do

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Speaker 3: you want five dollars? I'd always take the money. That

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Speaker 3: was just me.

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Speaker 4: I love that because if you offer me chocolate or

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Speaker 4: five dollars even today, no, sorry, it's the chocolate.

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Speaker 3: Yeah, not money love. I love the money. Yeah. So

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Speaker 3: I enjoyed watching my bank account go up and the

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Speaker 3: saving aspect of that, and I in my life being

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Speaker 3: able to do a lot with that. And yeah, so

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Speaker 3: that's my nickname. That's where that comes from.

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Speaker 2: I love that.

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Speaker 4: How old are your money Bags? I am thirty, you're thirty,

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Speaker 4: and tell me a bit more. How did you grow

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Speaker 4: up around money? So you adored it. Is this something

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Speaker 4: that was like kind of ingrained in your parents or

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Speaker 4: was that just mainly your nana? And what does that

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Speaker 4: meant now as an adult, like how you approach money.

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Speaker 3: Yeah, so I don't really remember my parents talking a

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Speaker 3: lot about money, but my grandparents, so my Nan and

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Speaker 3: Granda in particularly, they did. My nan is a you know,

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Speaker 3: business woman. She's owned a lot of properties, owned shares

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Speaker 3: businesses along the way, so she's always been very open

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Speaker 3: with her information. And she's one that I've always gone to,

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Speaker 3: yeah for everything in terms of that, and I think

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Speaker 3: that just kind of rubbed off on me over the years,

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Speaker 3: and I've probably learned a lot of my tricks and

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Speaker 3: things from her, but my parents probably not so much.

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Speaker 3: They divorced when I was about four. My sister and

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Speaker 3: I lived across two households. They both remarried and had

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Speaker 3: more kids along the way, so you know, I'd do

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Speaker 3: the whole go to one house and then go to

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Speaker 3: the other house, so it was very much you'd move

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Speaker 3: around a bit. But yeah, money habits. My nan will

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Speaker 3: always say that I got them from her.

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Speaker 2: I love that. I like that she takes the credit.

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Speaker 2: Get it Nana? Oh Yeah, so tell me a bit more.

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Speaker 4: I'm so pervy because you know, obviously, have you ever

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Speaker 4: procrastinated a uni assignment so much that you ended up

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Speaker 4: buying a block of land?

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Speaker 2: Come on, spoil it? Like why how does this happen?

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Speaker 4: Like how are you just sitting there being like, Oh,

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Speaker 4: I really should write a thousand words or spend one

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Speaker 4: hundred grand like I don't know.

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Speaker 3: So my sister went down to look at some blocks

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Speaker 3: of land and she went with my mum and I

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Speaker 3: think they ended up calling my nan to come and

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Speaker 3: have a look, and her and her boyfriend at the time,

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Speaker 3: they were really keen. My sister's probably the opposite to me.

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Speaker 3: She can be very impulsive jump to things, so if

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Speaker 3: she wants something, she'll go for it very quickly. So

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Speaker 3: she went down to purchase a block, and my grandparents

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Speaker 3: then rang me from there and said, you need to

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Speaker 3: get down here. You've got the savings. We know you've

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Speaker 3: got the savings.

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Speaker 2: Yeah, because your money bags, So it makes sense.

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Speaker 3: I was about twenty three at the time, twenty two,

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Speaker 3: so I went, yeah, I'm not enjoying writing this assignment

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Speaker 3: right now. So I went down and we had to

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Speaker 3: just put a deposit and I stood there with my

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Speaker 3: granddad and he was a builder, and he said, right,

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Speaker 3: you want this block, this block or this block. They're

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Speaker 3: the bust blocks in this division. So I picked one,

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Speaker 3: and then these random people behind me were listening to

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Speaker 3: my granddad, and then they took the second option. They

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Speaker 3: became my next door neighbors. So that was all well

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Speaker 3: and good, except what I didn't actually add in that

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Speaker 3: submission to you is I have been with my now

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Speaker 3: husband since I was thirteen.

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Speaker 2: Was so cute high school sweetheart.

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Speaker 3: Yeah, so we've been together a long time. What I

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Speaker 3: didn't tell him at the time was so I obviously

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Speaker 3: went down to look at these blocks of land and

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Speaker 3: put down a deposit. Him and I were heading off

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Speaker 3: to the footy that night on the train, and I

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Speaker 3: had to say to him, so, today, instead of my

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Speaker 3: uni side, I purchased a block of land. You've got

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Speaker 3: two options. You can either buy and with me and

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Speaker 3: we'll build together, or you can move in with me,

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Speaker 3: but you'll pay me rent. I'll be your landlord.

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Speaker 4: I love that you've been together since you're thirteen, and

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Speaker 4: you didn't at any point during that process go hey, Grandpa,

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Speaker 4: probably should call my boyfriend of six billionaires and check

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Speaker 4: if this is a major financial decision we're both willing

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Speaker 4: to embark on.

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Speaker 2: You just said no, this is what we're doing.

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Speaker 3: Yeah, pretty much, and that's just us in a nutshell.

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Speaker 4: So tell me how that went down? Like, was your

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Speaker 4: partner mad? Like, I'm not gonna lie. If my husband

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Speaker 4: came home and had made a significant financial decision without me,

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Speaker 4: I would be livid.

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Speaker 2: Like if he came.

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Speaker 4: Home with a new car without discussing off it, if

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Speaker 4: he had spent more than I don't know, one thousand

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Speaker 4: dollars on something, I'd be like.

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Speaker 2: Excuse me, sir, Like, we have a budget, we have

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Speaker 2: a plan. What are you doing? So how does this

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Speaker 2: go down in other relationships?

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Speaker 3: Look, if that was him doing that to me, I'd

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Speaker 3: be the one losing it.

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Speaker 2: I know who wears the pants now.

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Speaker 3: No, Look, we had obviously been talking about what we

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Speaker 3: would be doing in our life next, where we'd be going,

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Speaker 3: and he can be a bit anxious when it comes

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Speaker 3: to making decisions.

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Speaker 2: Oh so you just made it for him?

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Speaker 3: Yeah, which I was kind of like, well, you know,

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Speaker 3: I've solved the problem.

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Speaker 2: Was he grumpy? Was he like what have you done?

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Speaker 2: Or was he like money, dirist, that's cool, no worries,

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Speaker 2: like what a time to be alive?

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Speaker 3: Yea, no, look he went with it. He was very good.

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Speaker 3: And look when we told his parents, funny enough, their

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Speaker 3: first question was, what do your grandparents see?

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Speaker 2: I love that your grandparents seem to be like this,

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Speaker 2: like beacon of financial knowledge in your household. Like if

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Speaker 2: your grandparents say yes, it must be a good idea.

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Speaker 3: Yeah. Well even my in laws will go what have

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Speaker 3: your grandparents said on this? Is this a safe move?

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Speaker 3: Is this good?

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Speaker 4: And you're like, oh, my grandparents picked the block. And

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Speaker 4: then they're like, oh, okay, well in that case, much

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Speaker 4: money did you need?

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Speaker 2: No worries?

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Speaker 3: One hundred percent?

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Speaker 2: Oh that's so good. All right. So you're now thirty.

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Speaker 4: You've been with your now husband since you were thirteen.

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Speaker 4: When did you get married? How did all of that

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Speaker 4: pan out? Tell me about your love life?

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Speaker 3: Yeah, so we got married in twenty eighteen, so.

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Speaker 2: Pre COVID money win, Yes, money win.

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Speaker 3: Obviously, went off, finished high school, went off to UNI.

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Speaker 3: I went overseas for a gap year and taught English

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Speaker 3: in Poland.

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Speaker 2: Oh very cool.

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Speaker 3: Yeah, So I did that for a year, which was fun,

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Speaker 3: and then I came back and did teaching degree and

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Speaker 3: then yeah, so we kind of got married and now

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Speaker 3: we're in the same house that we built. So we've

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Speaker 3: been there since twenty seventeen.

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Speaker 2: Now a door.

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Speaker 4: All right, Well, now tell me what do you do

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Speaker 4: for work and how much money do you earn?

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Speaker 3: Yeah, so I have left teaching. I'm now a childcare

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Speaker 3: center manager. Oh yeah, and I'm on about eighty k

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Speaker 3: a year and a company car.

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Speaker 4: What made you make that choice? Like, what made you

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Speaker 4: change from teaching to childcare?

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Speaker 1: So?

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Speaker 3: I was originally in childcare family business. So my mom

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Speaker 3: and my grandma opened up childcare centers when I was

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Speaker 3: about four yeap, and I worked in them. That's why

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Speaker 3: I sort of say, you know, fourteen nine months Yeuckfully,

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Speaker 3: I was working.

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Speaker 2: But you're always helping out.

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Speaker 4: And I feel like when you're young as well, if

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Speaker 4: you're working in a childcare center, it's probably kind of fun.

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Speaker 3: Yeah. Well, you know, I got lots of skills and

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Speaker 3: I sort of I enjoyed doing and it was just

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Speaker 3: when I got to UNI, I did a so I

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Speaker 3: covered early childhood, primary secondary, special education.

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Speaker 2: Yeah cool, that would be so valuable in your role.

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Speaker 3: Obviously working under your mum is very hard because people

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Speaker 3: assume that I don't have my own knowledge and that

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Speaker 3: I'm just the boss's daughter, that sort of thing. So

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Speaker 3: the plan for me was always to leave for a

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Speaker 3: few years and then I always said when I had kids,

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Speaker 3: i'd come back. I haven't had kids yet, but my

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Speaker 3: mum decided to open up another childcare center about an

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Speaker 3: hour from where we live, and it was getting a

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Speaker 3: bit hard for her to try and do too at

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Speaker 3: the same time. So I was a you know, teacher

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Speaker 3: through COVID. I was pretty burnt out and I went,

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Speaker 3: I need a change, so I jumped ship and so

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Speaker 3: I've been managing our second center for about two years now.

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Speaker 2: That's actually very very cool.

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Speaker 4: Obviously, I've been quite vocal about childcare in the past

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Speaker 4: as somebody who works in that space. Obviously, you know,

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Speaker 4: high fees sometimes in these circumstances, the childcare workers or

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Speaker 4: let's call them educators because that's what they are, they

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Speaker 4: are not paid properly. What are your thoughts and feelings

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Speaker 4: on me being so vocal about this as someone who

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Speaker 4: like literally works in and you know via family owns them.

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Speaker 3: Look, whilst I agree with a lot of what you've said.

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Speaker 2: That's why I'm asking. I'm like, I want to hear

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Speaker 2: your opinion.

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Speaker 3: So for a long time we were childcare workers. We

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Speaker 3: weren't shown the same respect as teachers.

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Speaker 4: Which is a joke because let's be honest, the first

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Speaker 4: five years are the most formative.

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Speaker 3: Yeah, one hundred percent. So we've worked really hard over

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Speaker 3: the years to get some attention on ourselves. And whilst

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Speaker 3: where you know, we're considered a private business of course,

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Speaker 3: as we're family owned and that sort of thing, we're

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Speaker 3: not necessarily your corporate centers, so a lot of ours

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Speaker 3: we will always pay above the award slay. We love this, Yeah,

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Speaker 3: so that's just something you know, we work in with

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Speaker 3: our staff a little bit different. You know, they've got

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Speaker 3: kids that are starting school, if they've got camps that

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Speaker 3: they're coming back from. Will always make things even if

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Speaker 3: it means that I jump on the floor. I quite

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Speaker 3: often jump on the floor to make sure that my

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Speaker 3: staff are looked after. I love that we choose to

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Speaker 3: do a forced closure over Christmas. So I've got a

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Speaker 3: lot of cranky parents me for it, but it's something

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Speaker 3: that I can give my stuff.

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Speaker 4: At the end of the day, Like it's a business

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Speaker 4: still like, I totally. It's annoying if you're a parent

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Speaker 4: that relies on childcare. But at the same time, you're like,

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Speaker 4: I'm a business and I have employees that need to

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Speaker 4: be looked after and need some time off, and there's

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Speaker 4: not going to be a better time than Christmas to

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Speaker 4: call the shots.

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Speaker 3: Yeah, And look, it's a tough industry at the moment,

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Speaker 3: because yes, they've upped all the subsidies, which is fantastic

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Speaker 3: because they were really low and if you earned over

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Speaker 3: a certain amount, you were getting nothing back, and I

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Speaker 3: just see that's unfair. But I guess the one thing

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Speaker 3: to consider is the cost of living has gone up.

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Speaker 2: Oh, absolutely, Inflation isn't crazy.

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Speaker 3: So we provide all meals. Yeah, so I've got a

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Speaker 3: full time chef that works for us.

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Speaker 4: That sounds bougie, little bougie toddlers getting their private chef.

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Speaker 3: Oh she's very good. Like you'd be amazed what sort

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Speaker 3: of vegetables you can get into muffins and you eat

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Speaker 3: these muffins and not know there's vegetables in them. Yeah,

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Speaker 3: So you've got that. All your costs of you know,

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Speaker 3: electricity and water and things like that. Everything's gone up

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Speaker 3: one hundred percent, So from a business point of view,

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Speaker 3: it is harder. We have to up our fees one

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Speaker 3: hundred percent. You do to also keep in line with

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Speaker 3: other centers. Like where I am, there's two centers that

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Speaker 3: are fairly close by, but they're the only other centers

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Speaker 3: in the area.

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Speaker 2: So it's a really it's competitive.

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Speaker 3: Our fees are sixteen dollars less than the next one,

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Speaker 3: but we provide food and they don't, So I do

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Speaker 3: think it's a little bit unfair in how much the

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Speaker 3: price can vary.

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Speaker 2: It's wild.

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Speaker 4: I think a lot of the time people assume that

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Speaker 4: it's your choice, like your family's choice to overcharge. It's

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Speaker 4: like no, like people who own childcare centers, especially family

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Speaker 4: owned and run ones, are.

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Speaker 2: Usually just obsessed with kids.

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Speaker 4: Really want them to have like the right you know,

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Speaker 4: nurturing environment, want to feed them well, want to look

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Speaker 4: after them. But yeah, I think my jumping up and

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Speaker 4: down is very much government related for more support to

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Speaker 4: be given because it's necessary, right, like for moms to

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Speaker 4: return to work, Like my baby's going to go into daycare,

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Speaker 4: like you've probably seen it online. I have been on

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Speaker 4: a wait list since this baby was like four months

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Speaker 4: in uterow like we were writing down They're like, oh,

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Speaker 4: like is it a boy or a girl? We don't know, Like,

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Speaker 4: let's just put baby Divine on a wait list.

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Speaker 3: Like it had.

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Speaker 2: It's so insane.

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Speaker 3: I'm currently pregnant. Okay, grats, thank you. I've had to

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Speaker 3: do it for my own child. It literally has you know,

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Speaker 3: TBC baby.

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Speaker 2: Yep, TBC baby.

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Speaker 4: And every month I get a text message from this

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Speaker 4: daycare center saying, oh, you are on the wait list

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Speaker 4: like for TBC Baby Divine.

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Speaker 2: Do you want to stay on the wait list? Reply yes?

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Speaker 4: And I'm always like yes really quickly because I obviously

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Speaker 4: don't want to lose my daycare spot.

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Speaker 2: But I didn't realize this was an issue.

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Speaker 3: Definitely, when you get a spot, take whatever day you

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Speaker 3: can get, and then build up from there because once

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Speaker 3: you're in and more likely to offer you more days

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Speaker 3: than they are to go to the next person on

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Speaker 3: the wait list.

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Speaker 4: Like that's it's so complex though, Like complete side note

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Speaker 4: that I think people will find interesting is they were

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Speaker 4: asking me what days I wanted and I said, look,

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Speaker 4: we're probably going to start daycare from about six months,

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Speaker 4: like my husband's taking six months off. I'll be really

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Speaker 4: flexible during that time too, obviously, but after six months,

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Speaker 4: we'd love to do like maybe one or two days

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Speaker 4: on a Tuesday and a Wednesday. Like we'd love to

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Speaker 4: like work from home on the Monday in the Friday.

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Speaker 2: We'll work it out right. And they're like, oh, no,

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Speaker 2: you have to do a Monday or a Friday.

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Speaker 3: Yeah, I heard that in your episode and I was like,

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Speaker 3: I've never heard that.

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Speaker 4: The competition is wild, and I was like, but I

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Speaker 4: don't want a Friday or a Monday, Like they're the

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Speaker 4: best days. They're the ones that are going to be

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Speaker 4: public holidays. They're the ones that are going to be

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Speaker 4: like when my husband has it easier day.

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Speaker 3: Do they do swaps?

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Speaker 2: I don't know.

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Speaker 3: Make sure check that too. You want to get a

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Speaker 3: center that will do public holiday swaps smart because otherwise

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Speaker 3: you have to pay for it even if it's public holiday.

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Speaker 2: The world is wild. Daycare is wild.

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Speaker 4: And I'm not saying it's a bad thing because I

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Speaker 4: think we're doing the best within the constraints that we

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Speaker 4: have in Australia. But at the end of the day,

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Speaker 4: I see childcare as an essential service and that essential

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Speaker 4: service should be supported more especially by a government who

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Speaker 4: want more women in the workforce.

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Speaker 2: You want more women in the.

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Speaker 4: Work support daycare, support childcare, make sure that kids can

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Speaker 4: get looked after in a way that you know, parents

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Speaker 4: don't go.

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Speaker 2: Oh, I really wouldn't want them going there.

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Speaker 3: Like why one thing they really do need to do

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Speaker 3: is get more educators. Like the industry has lost so

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Speaker 3: many educators through COVID and things like that. But a

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Speaker 3: lot of the time you're on a wait list, not

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Speaker 3: because they don't have the space to take you, they

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Speaker 3: don't have the staff to take you on. And it's

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Speaker 3: such a ratio business.

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Speaker 2: And I didn't realize that.

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Speaker 3: And the education is just not there. I've put on

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Speaker 3: seven trainees. A lot of my role is mentoring because

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Speaker 3: obviously I come from that teaching background and that's my thing.

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Speaker 2: Yeah, of course they're not.

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Speaker 3: Giving the incentives back to the educators for people to

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Speaker 3: become educators. They're slowly, you know, giving a few thousand

380
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Speaker 3: here and there to them, but they're not encouraging people

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Speaker 3: to come into that workforce. And that's where then, Yeah, families,

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00:18:02,800 --> 00:18:06,159
Speaker 3: working mums are left without care because we legally are

383
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Speaker 3: not allowed to.

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Speaker 4: Because we just don't have the staff to look after them. Yeah, exactly.

385
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Speaker 4: Oh my gosh, I feel like that's a lot. Let's

386
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Speaker 4: ask more questions about you though, less ab out daycare.

387
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Speaker 4: Now we know that you work in childcare and you're

388
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Speaker 4: having a bambini soon. What is your big money goal?

389
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Speaker 4: What are you currently working towards because you already bought

390
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Speaker 4: the block of land and build the house.

391
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Speaker 3: You know, yes, So look, my big money goal at

392
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Speaker 3: the moment was for us to have a child. So

393
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Speaker 3: we've had a few issues to all be natural now,

394
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Speaker 3: but I've had a few miscarriages and things like that,

395
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Speaker 3: so I've had a bit of a journey. So We've

396
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Speaker 3: done a lot of travel in our past, and you know,

397
00:18:43,359 --> 00:18:45,959
Speaker 3: the house and things like that. Ultimately, I'd love to

398
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Speaker 3: own my house sooner rather than later. So yeah, you

399
00:18:49,840 --> 00:18:52,920
Speaker 3: can bet that that is definitely a big money goal

400
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Speaker 3: for me. But probably our main one at the moment

401
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Speaker 3: is to prepare for a baby and make sure we've

402
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Speaker 3: got all the bits and peace. And I've got a

403
00:19:01,800 --> 00:19:04,960
Speaker 3: bit more time than you. I'm not due for a

404
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Speaker 3: while yet.

405
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Speaker 2: How far along are you.

406
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Speaker 3: I've just hit thirteen weeks.

407
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Speaker 4: Oh my gosh, congratulations. Yeah, that's the most exciting week.

408
00:19:12,720 --> 00:19:14,920
Speaker 4: I feel like when you get to twelve, you're like, breathe,

409
00:19:14,920 --> 00:19:16,359
Speaker 4: a little sigh of relief. And then you get to

410
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Speaker 4: thirteen and you're like, oh, this is real, real, Yeah,

411
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Speaker 4: that's very so exciting. But you have so much baby experience.

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Speaker 4: I will say one thing that shocked me was how

413
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Speaker 4: expensive baby stuff is and how much it adds up,

414
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Speaker 4: like so so quickly.

415
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Speaker 3: Start stocking up on nappies and wipes.

416
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Speaker 2: I'm across that.

417
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Speaker 4: I got a whole heap of nappies and wipes in

418
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Speaker 4: the Black Friday sales and it was like, to me,

419
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Speaker 4: the lamest purchase.

420
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Speaker 2: But I was like so proud of like what a

421
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Speaker 2: good deal. I Oh.

422
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Speaker 4: I was like, oh this is so good. I am

423
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Speaker 4: a money saving queen. And then I was like, I'm

424
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Speaker 4: buying bulk nappies. Who am I? So that was a

425
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Speaker 4: bit of an existential crisis.

426
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Speaker 2: So saving for a baby, what is I guess your

427
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Speaker 2: biggest tip or trick having so much experience in that

428
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Speaker 2: educator space actually with young kids, for I guess saving

429
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Speaker 2: money with kids.

430
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Speaker 3: Definitely start practicing paying childcare fees now, because that's just

431
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Speaker 3: for savings for you. So if you know your subsidies

432
00:20:13,720 --> 00:20:18,200
Speaker 3: and stuff, already, which you probably won't until Bubs is born.

433
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Speaker 3: But even if you pick a rate, you can get

434
00:20:22,240 --> 00:20:26,000
Speaker 3: on and do like the childcare subsidy calculators and just

435
00:20:26,480 --> 00:20:29,679
Speaker 3: even find out a friend's rate and use that and

436
00:20:29,760 --> 00:20:32,840
Speaker 3: work out what your gap payment would be and put

437
00:20:32,880 --> 00:20:36,320
Speaker 3: that away. So I've sounds really bad. Obviously I haven't

438
00:20:36,320 --> 00:20:38,760
Speaker 3: got any kids, but I've done that. That's like my

439
00:20:38,840 --> 00:20:40,880
Speaker 3: four savings. That's how I work out the amount I'm

440
00:20:40,880 --> 00:20:43,760
Speaker 3: going to do. Oh, that's so sick in practice, so

441
00:20:43,800 --> 00:20:48,119
Speaker 3: that it's part of your budget, because I'm forever listening

442
00:20:48,200 --> 00:20:51,359
Speaker 3: to people talk about how much childcare ends up being

443
00:20:51,440 --> 00:20:54,000
Speaker 3: such a big part of their budget that you get

444
00:20:54,080 --> 00:20:55,439
Speaker 3: used to it. And that's what we often say to

445
00:20:55,480 --> 00:20:58,880
Speaker 3: our families that are finishing kinder. Continue to put that

446
00:20:58,920 --> 00:21:01,760
Speaker 3: gap money aside. If that's been part of your budget,

447
00:21:02,160 --> 00:21:05,800
Speaker 3: then that becomes your holiday fund or they've gone off

448
00:21:05,800 --> 00:21:06,240
Speaker 3: to school.

449
00:21:06,600 --> 00:21:08,280
Speaker 2: Yeah, so smart. I love that.

450
00:21:08,359 --> 00:21:10,240
Speaker 4: All right, let's go to a really quick break and

451
00:21:10,280 --> 00:21:12,320
Speaker 4: on the flip side, I have a heap of questions

452
00:21:12,320 --> 00:21:14,320
Speaker 4: for you because you didn't give me a lot in

453
00:21:14,359 --> 00:21:21,439
Speaker 4: your intro email, So guys, don't go anywhere, all right,

454
00:21:21,480 --> 00:21:23,399
Speaker 4: money direst we are back, and I want to know.

455
00:21:23,560 --> 00:21:26,040
Speaker 4: You're obviously good at forced savings. I mean, you've got

456
00:21:26,080 --> 00:21:29,080
Speaker 4: the nickname of money bags. So tell me do you

457
00:21:29,119 --> 00:21:31,639
Speaker 4: have any investments? If so, what are they? If not,

458
00:21:32,320 --> 00:21:33,000
Speaker 4: what's your plan?

459
00:21:33,840 --> 00:21:36,560
Speaker 3: I actually do have a few investments that obviously I

460
00:21:36,600 --> 00:21:37,320
Speaker 3: didn't mention it.

461
00:21:37,400 --> 00:21:40,520
Speaker 2: I'm not surprised. I feel like someone called money bags

462
00:21:40,560 --> 00:21:42,040
Speaker 2: probably does have investments.

463
00:21:42,240 --> 00:21:44,840
Speaker 3: I've got twenty five thousand in shares.

464
00:21:45,160 --> 00:21:45,520
Speaker 2: You what.

465
00:21:47,359 --> 00:21:51,800
Speaker 5: Love get it, queen, I've got around one hundred thousand

466
00:21:51,880 --> 00:21:56,280
Speaker 5: in my super I've been salary sacrificing since I was

467
00:21:56,640 --> 00:22:00,840
Speaker 5: nineteen adore, and my husband and I have purchased an

468
00:22:00,840 --> 00:22:01,760
Speaker 5: investment property.

469
00:22:01,880 --> 00:22:05,479
Speaker 4: Oh my gosh, you are absolutely balled. No wonder everyone

470
00:22:05,600 --> 00:22:09,760
Speaker 4: calls you money bags. Tell me how much your grandparents had?

471
00:22:10,119 --> 00:22:12,479
Speaker 4: I guess in a say of those shares, Like is

472
00:22:12,480 --> 00:22:14,280
Speaker 4: that something that you sat down with them to talk

473
00:22:14,280 --> 00:22:16,800
Speaker 4: about or did you make your own decisions? Like I'm

474
00:22:16,840 --> 00:22:19,399
Speaker 4: just assuming that your nana is like this like holy

475
00:22:19,480 --> 00:22:22,800
Speaker 4: grail of like financial knowledge, So I just assumed she

476
00:22:22,880 --> 00:22:23,760
Speaker 4: might have been involved.

477
00:22:24,520 --> 00:22:27,920
Speaker 3: Look, she's more into the property. So the investment property

478
00:22:28,000 --> 00:22:31,520
Speaker 3: is all her saying to me, You know, this is

479
00:22:31,560 --> 00:22:35,600
Speaker 3: in a great location. You know, this is perfect for you.

480
00:22:36,160 --> 00:22:39,040
Speaker 3: Shares came about back in the day there were no

481
00:22:40,119 --> 00:22:44,520
Speaker 3: finance women durus, so obviously I went. I started with

482
00:22:44,600 --> 00:22:46,919
Speaker 3: Barefoot and pushed you a bit further. I think I

483
00:22:47,000 --> 00:22:49,920
Speaker 3: found you in one of those really early days where

484
00:22:50,240 --> 00:22:53,239
Speaker 3: I feel like we were in like a hairdressers and

485
00:22:53,240 --> 00:22:55,640
Speaker 3: you had like your intimate girls.

486
00:22:55,920 --> 00:22:59,440
Speaker 2: Oh my gosh, she came to the Blow in Melbourne. Yeah,

487
00:22:59,520 --> 00:23:02,879
Speaker 2: oh my god. Yes, I did, like an intimate like

488
00:23:03,680 --> 00:23:07,200
Speaker 2: way back when I had like no followers, like financial

489
00:23:07,280 --> 00:23:09,520
Speaker 2: literacy workshop with Phoebe from the Blow.

490
00:23:09,840 --> 00:23:12,280
Speaker 4: Yes, oh my gosh, there were like twenty five of

491
00:23:12,320 --> 00:23:15,800
Speaker 4: you and you were there. I adore that so much.

492
00:23:15,440 --> 00:23:17,760
Speaker 3: So one of my girlfriends, I don't know how she

493
00:23:17,800 --> 00:23:20,000
Speaker 3: got onto you, but she got onto you and she

494
00:23:20,400 --> 00:23:23,800
Speaker 3: took me along and she's another save. I did all

495
00:23:23,800 --> 00:23:24,600
Speaker 3: my travel with her.

496
00:23:24,920 --> 00:23:27,040
Speaker 2: Yeah yeah, yeah, in my sort of.

497
00:23:27,040 --> 00:23:30,400
Speaker 3: Early twenties, we went off around Europe a few times,

498
00:23:30,920 --> 00:23:35,400
Speaker 3: and yeah, very much so that we came to your

499
00:23:35,440 --> 00:23:37,400
Speaker 3: event and it was so good. It was Yeah, when

500
00:23:37,440 --> 00:23:39,440
Speaker 3: you were starting out, I was just a baby.

501
00:23:39,520 --> 00:23:41,359
Speaker 2: Don't tell anyone what happened at that event.

502
00:23:42,400 --> 00:23:45,119
Speaker 3: It was great. It was really insightful and it meant that,

503
00:23:45,880 --> 00:23:49,120
Speaker 3: I guess for me, there were other women out there

504
00:23:49,160 --> 00:23:51,639
Speaker 3: that were interested in finance. You've always talked about it

505
00:23:51,680 --> 00:23:54,480
Speaker 3: being a very male dominated arena.

506
00:23:54,720 --> 00:23:55,920
Speaker 2: Yeah, true, and.

507
00:23:56,000 --> 00:23:59,439
Speaker 3: There just wasn't information when I was a teenager that

508
00:23:59,560 --> 00:24:02,560
Speaker 3: was put out from women or you just didn't see it.

509
00:24:02,800 --> 00:24:06,000
Speaker 3: So it's been really cool to watch this space, you.

510
00:24:05,960 --> 00:24:10,240
Speaker 2: Know, go from my events of twenty five people. I

511
00:24:10,359 --> 00:24:12,320
Speaker 2: love it so much. Thank you for coming, thank you

512
00:24:12,359 --> 00:24:12,920
Speaker 2: for staying.

513
00:24:14,840 --> 00:24:19,359
Speaker 3: Yeah. So I enjoy learning, and I've taken on bits

514
00:24:19,400 --> 00:24:23,120
Speaker 3: and pieces of sort of finance gurus along the way

515
00:24:23,200 --> 00:24:25,800
Speaker 3: and some of their tips and tricks and things like that.

516
00:24:26,280 --> 00:24:28,520
Speaker 3: So it was very much I guess that sort of

517
00:24:28,560 --> 00:24:32,240
Speaker 3: started me out on starting to understand what shares were about.

518
00:24:32,800 --> 00:24:36,880
Speaker 3: I also got into my millennial money.

519
00:24:36,760 --> 00:24:37,360
Speaker 2: Yeah, adore.

520
00:24:37,600 --> 00:24:41,880
Speaker 4: I like how everyone hesitates before mentioning another like finance

521
00:24:41,960 --> 00:24:44,160
Speaker 4: or money podcast on my show, and I'm like, no,

522
00:24:44,320 --> 00:24:46,440
Speaker 4: like a share the love, Like we love every other

523
00:24:46,520 --> 00:24:50,199
Speaker 4: money and finance podcast, but everyone's like, oh and this

524
00:24:50,359 --> 00:24:52,560
Speaker 4: other company, and I'm like, yeah, like get it, like

525
00:24:52,760 --> 00:24:55,560
Speaker 4: tell us, Like there's so much information out there, we

526
00:24:55,600 --> 00:24:56,760
Speaker 4: should be absorbing all of it.

527
00:24:57,280 --> 00:25:00,879
Speaker 3: Yeah, So I've obviously really enjoyed techno in that sense

528
00:25:00,960 --> 00:25:05,600
Speaker 3: that I've been able to gain all this knowledge from people,

529
00:25:06,119 --> 00:25:09,000
Speaker 3: and I've been able to teach myself a lot of

530
00:25:09,040 --> 00:25:12,800
Speaker 3: things along the way and get an understanding of why

531
00:25:12,840 --> 00:25:16,919
Speaker 3: to do things. So particularly like with the super you know,

532
00:25:17,280 --> 00:25:19,119
Speaker 3: we were never taught about super in school.

533
00:25:19,200 --> 00:25:21,119
Speaker 2: No, it's so silly that you're not.

534
00:25:21,400 --> 00:25:23,720
Speaker 4: Like, it's crazy to me that you don't, because it's

535
00:25:23,720 --> 00:25:26,359
Speaker 4: such a big part of our life. Like most people

536
00:25:26,400 --> 00:25:30,440
Speaker 4: will retire and subernuation will be their biggest asset, and

537
00:25:30,480 --> 00:25:32,440
Speaker 4: we're not taught how to manage it. We're not taught

538
00:25:32,480 --> 00:25:34,840
Speaker 4: how to contribute to it. We're not taught that it's

539
00:25:34,880 --> 00:25:37,600
Speaker 4: even that important. I think that there's just this like

540
00:25:37,720 --> 00:25:39,240
Speaker 4: add on that, Like, by the.

541
00:25:39,200 --> 00:25:40,000
Speaker 2: Way, money drest.

542
00:25:40,040 --> 00:25:41,919
Speaker 4: When you get a real job, you'll start having to

543
00:25:41,960 --> 00:25:43,919
Speaker 4: pay super hard we do just to be part of

544
00:25:43,920 --> 00:25:46,520
Speaker 4: your package, Like don't worry your employer or sort it out,

545
00:25:46,600 --> 00:25:49,520
Speaker 4: so don't even stress. Just they'll give you some paperwork,

546
00:25:49,720 --> 00:25:52,320
Speaker 4: just fill it in and you wham maam, thank you ma'am.

547
00:25:52,359 --> 00:25:54,920
Speaker 4: And you're like, wait, no, this could be like life changing,

548
00:25:55,200 --> 00:25:57,280
Speaker 4: and nobody's talking about it that way.

549
00:25:57,520 --> 00:25:59,920
Speaker 3: Yeah, So it's been really interesting to watch that grow.

550
00:26:00,800 --> 00:26:04,840
Speaker 3: From when I first started upping, I've contributed fifteen percent

551
00:26:05,119 --> 00:26:08,320
Speaker 3: my whole sort of after finishing high school.

552
00:26:08,359 --> 00:26:11,960
Speaker 4: She's a smart cookie. No wonder they call you money bags.

553
00:26:12,600 --> 00:26:14,600
Speaker 4: All right, money bags. I want to know about your debt.

554
00:26:15,040 --> 00:26:17,679
Speaker 4: So you have some shares, you obviously have one hundred

555
00:26:17,680 --> 00:26:21,000
Speaker 4: grand in super You've recently bought an investment property. But

556
00:26:21,080 --> 00:26:22,639
Speaker 4: tell me about the debt that you have on your

557
00:26:22,680 --> 00:26:25,440
Speaker 4: current property. Tell me about your investment property and any

558
00:26:25,480 --> 00:26:26,239
Speaker 4: other debt you have.

559
00:26:26,320 --> 00:26:27,160
Speaker 2: I want to know it all.

560
00:26:27,480 --> 00:26:32,919
Speaker 3: Yeah. So, obviously I have two mortgages currently our own house.

561
00:26:33,080 --> 00:26:34,800
Speaker 3: We owe about two hundred and fifty.

562
00:26:35,080 --> 00:26:36,960
Speaker 2: That's pretty good at thirty.

563
00:26:37,440 --> 00:26:39,239
Speaker 3: Yeah. Yeah, so we've worked hard on that.

564
00:26:39,840 --> 00:26:41,040
Speaker 2: What's the property worth?

565
00:26:41,280 --> 00:26:43,679
Speaker 3: It's worth about nine to fifty.

566
00:26:43,800 --> 00:26:45,040
Speaker 2: Oh my gosh, no it's not.

567
00:26:45,440 --> 00:26:49,200
Speaker 3: Yeah. So we bought in a growth corridor area and

568
00:26:49,560 --> 00:26:50,800
Speaker 3: it's now in high demand.

569
00:26:51,160 --> 00:26:53,720
Speaker 2: Thanks Grandpa. I love that, all right, tell me more.

570
00:26:53,840 --> 00:26:55,280
Speaker 2: What else have you got? So?

571
00:26:55,560 --> 00:26:59,640
Speaker 3: Obviously our investment loan is quite high. It's about seven

572
00:26:59,720 --> 00:27:04,280
Speaker 3: hundred yep, but still manageable within our.

573
00:27:04,400 --> 00:27:08,119
Speaker 2: Budget, especially because you already have seven hundred thousand dollars

574
00:27:08,119 --> 00:27:10,240
Speaker 2: of equity sitting in your family home right now.

575
00:27:10,440 --> 00:27:13,600
Speaker 3: Yes, so we've got that, We've already got a renter

576
00:27:13,760 --> 00:27:16,840
Speaker 3: in there. It's in an area we're very lucky, that's

577
00:27:17,000 --> 00:27:21,760
Speaker 3: very central to sort of the city element of where

578
00:27:21,760 --> 00:27:22,800
Speaker 3: it is located.

579
00:27:22,920 --> 00:27:25,359
Speaker 2: Yeah, very cool. Yeah, what's that worth?

580
00:27:25,600 --> 00:27:27,359
Speaker 4: Sorry before we move in? Like if you've got a

581
00:27:27,400 --> 00:27:29,040
Speaker 4: seven hundred thousand dollar alone on.

582
00:27:29,000 --> 00:27:33,960
Speaker 3: It, I think it was valued at about eight thirty.

583
00:27:34,600 --> 00:27:35,160
Speaker 2: Very nice?

584
00:27:35,240 --> 00:27:37,280
Speaker 4: And is that like how long have you owned that?

585
00:27:37,320 --> 00:27:39,040
Speaker 4: When did you purchase your investment property?

586
00:27:39,119 --> 00:27:40,320
Speaker 3: Probably about six months ago?

587
00:27:40,400 --> 00:27:43,199
Speaker 4: Okay, so like that's epic. Did you use equity to

588
00:27:43,240 --> 00:27:45,680
Speaker 4: purchase that? Yes, so you didn't even have to cash

589
00:27:45,720 --> 00:27:48,280
Speaker 4: out anything. You just signed up for it. And now

590
00:27:48,280 --> 00:27:50,200
Speaker 4: you have one hundred and thirty thousand dollars of equity

591
00:27:50,240 --> 00:27:53,160
Speaker 4: in that property, which brings you up to like eight

592
00:27:53,280 --> 00:27:57,600
Speaker 4: hundred and thirty thousand dollars equity at thirty Yeah, okay, queen,

593
00:27:57,720 --> 00:28:00,520
Speaker 4: no worries anything else. You'd like to tell me of debt?

594
00:28:00,760 --> 00:28:04,480
Speaker 3: And I have about seven k in hextet.

595
00:28:04,560 --> 00:28:07,159
Speaker 4: Oh that's okay. That's a different type of debt. I

596
00:28:07,200 --> 00:28:10,280
Speaker 4: think what's your plan around hex? Are you paying it

597
00:28:10,320 --> 00:28:12,480
Speaker 4: off aggressively? You're just letting it tick along, like, have

598
00:28:12,600 --> 00:28:13,440
Speaker 4: you thought about it?

599
00:28:13,720 --> 00:28:16,560
Speaker 3: I'm just letting it tick along. So I just feel

600
00:28:16,560 --> 00:28:21,400
Speaker 3: I would rather focus in. I know obviously indexation and everything,

601
00:28:21,760 --> 00:28:24,880
Speaker 3: but I would prefer to just leave it alone being

602
00:28:25,000 --> 00:28:27,040
Speaker 3: what it is. If it was anything over ten, I

603
00:28:27,119 --> 00:28:31,479
Speaker 3: probably would have. But I went through sort of chatting

604
00:28:31,520 --> 00:28:32,919
Speaker 3: to brokers.

605
00:28:32,440 --> 00:28:33,880
Speaker 2: And getting your ducks in a row.

606
00:28:34,040 --> 00:28:36,240
Speaker 3: They just kind of said, leave it.

607
00:28:36,760 --> 00:28:39,720
Speaker 4: Yeah, it's not impacting your buying capacity right now, yes,

608
00:28:39,920 --> 00:28:41,400
Speaker 4: which I think is a really good point.

609
00:28:41,480 --> 00:28:41,880
Speaker 2: Actually.

610
00:28:41,920 --> 00:28:44,320
Speaker 4: For those of you who are thinking of purchasing property

611
00:28:44,360 --> 00:28:47,160
Speaker 4: but are a bit worried about your hex debt, more

612
00:28:47,200 --> 00:28:48,920
Speaker 4: often than not, the best thing you can do is

613
00:28:48,960 --> 00:28:51,560
Speaker 4: talk to a mortgage broker about how your hex debt

614
00:28:51,680 --> 00:28:55,720
Speaker 4: impacts your buying capacity, because often if it's like maybe

615
00:28:55,760 --> 00:28:57,880
Speaker 4: a lower amount, they'll be like, don't worry about it,

616
00:28:57,920 --> 00:28:59,760
Speaker 4: like it's not going to impact it at all. But

617
00:28:59,840 --> 00:29:02,360
Speaker 4: the same could be true if it's much higher. Like

618
00:29:02,440 --> 00:29:04,719
Speaker 4: I remember doing the maths with our broker, Kate from

619
00:29:04,840 --> 00:29:08,120
Speaker 4: Zella Money, and obviously, let's be honest, I own the company.

620
00:29:08,160 --> 00:29:09,680
Speaker 2: I was going to like use a different broker.

621
00:29:09,760 --> 00:29:12,719
Speaker 4: You're joking, but I was talking to her about that

622
00:29:12,760 --> 00:29:14,760
Speaker 4: because I have a very high hex stet, Like my

623
00:29:14,800 --> 00:29:18,120
Speaker 4: hex stet is still sitting at about seventy five thousand dollars, right,

624
00:29:18,440 --> 00:29:20,800
Speaker 4: And so I'm in my head going, oh, maybe, like

625
00:29:20,880 --> 00:29:22,760
Speaker 4: if we paid that off, it would give us a

626
00:29:22,800 --> 00:29:25,400
Speaker 4: heap more borrowing capacity. And we did the maths, and

627
00:29:25,440 --> 00:29:28,479
Speaker 4: the difference between me paying off my seventy five thousand

628
00:29:28,480 --> 00:29:31,600
Speaker 4: dollars hex debt and you know, just leaving it I

629
00:29:31,600 --> 00:29:34,040
Speaker 4: think was like twenty five thousand dollars worth of capacity,

630
00:29:34,160 --> 00:29:36,480
Speaker 4: which was not worth it because if I had another

631
00:29:36,520 --> 00:29:38,960
Speaker 4: seventy five thousand dollars in cash, like I probably should

632
00:29:39,000 --> 00:29:42,920
Speaker 4: just put that towards the property and grow my equity sooner. Yes, anyway,

633
00:29:42,960 --> 00:29:46,160
Speaker 4: that was obviously my personal situation. It's different. But the

634
00:29:46,240 --> 00:29:48,400
Speaker 4: moral of this part of the story is just ask

635
00:29:48,440 --> 00:29:51,160
Speaker 4: a broker before making any massive financial decisions that you

636
00:29:51,280 --> 00:29:54,760
Speaker 4: call I think will help, because sometimes they do great,

637
00:29:54,880 --> 00:29:57,000
Speaker 4: sometimes they don't, and you might have been better off

638
00:29:57,000 --> 00:29:58,680
Speaker 4: to just hoard the cash and chuck it in your

639
00:29:58,720 --> 00:30:00,960
Speaker 4: offset account. So I think it's one of those things

640
00:30:00,960 --> 00:30:05,280
Speaker 4: that just talk to the professionals before making any big decisions. Definitely,

641
00:30:06,160 --> 00:30:09,640
Speaker 4: money Diarist, I've said it before, I must say it again.

642
00:30:09,920 --> 00:30:13,240
Speaker 4: Your nicknames money bags. Tell me what is your best

643
00:30:13,360 --> 00:30:14,040
Speaker 4: money habit?

644
00:30:14,520 --> 00:30:16,400
Speaker 3: Definitely that I am a really good saver.

645
00:30:16,800 --> 00:30:17,480
Speaker 2: I can see that.

646
00:30:19,280 --> 00:30:23,080
Speaker 3: Yeah, so it's just something that it comes naturally to me.

647
00:30:23,560 --> 00:30:25,960
Speaker 4: Do you have a structure like I feel like so

648
00:30:26,040 --> 00:30:28,720
Speaker 4: many people say I'm good at saving, But like that

649
00:30:28,800 --> 00:30:30,720
Speaker 4: could be because you have a really good budget and

650
00:30:30,760 --> 00:30:32,920
Speaker 4: cash flow plan and you allocate it all or you're

651
00:30:32,960 --> 00:30:35,160
Speaker 4: just like a little hoarder. Like, there's lots of different

652
00:30:35,160 --> 00:30:37,440
Speaker 4: ways to be a good saver. Tell me how your

653
00:30:37,440 --> 00:30:38,320
Speaker 4: way works.

654
00:30:38,760 --> 00:30:43,640
Speaker 3: So I have definitely used your budget and cashlow masterclass.

655
00:30:43,680 --> 00:30:44,240
Speaker 3: I've done that.

656
00:30:44,840 --> 00:30:48,240
Speaker 2: Oh she's in the money masterclass. I love this. Thank

657
00:30:48,280 --> 00:30:49,920
Speaker 2: you for being a positive advocate.

658
00:30:50,080 --> 00:30:53,360
Speaker 3: I think, yes, so, I guess in the early days

659
00:30:53,400 --> 00:30:57,680
Speaker 3: it was very much just physically seeing the number grow. Yeah,

660
00:30:57,960 --> 00:31:00,480
Speaker 3: whereas at least your masterclass has a life me to

661
00:31:00,560 --> 00:31:05,120
Speaker 3: break it down so I can really understand, you know,

662
00:31:05,960 --> 00:31:09,240
Speaker 3: what I'm spending, yeah, and yeah, what I'm saving and why.

663
00:31:09,520 --> 00:31:12,200
Speaker 3: I guess bringing out the why, like what's the next movement?

664
00:31:12,280 --> 00:31:15,080
Speaker 3: Not just saving for the sake of having money bags.

665
00:31:15,720 --> 00:31:19,000
Speaker 4: I mean, that's a cool nickname because obviously you've got

666
00:31:19,040 --> 00:31:21,800
Speaker 4: some casholder behind you. That's what I was trying to

667
00:31:21,800 --> 00:31:24,160
Speaker 4: get out of the Money masterclass is like setting it

668
00:31:24,240 --> 00:31:25,880
Speaker 4: up so it takes it to the next level. So

669
00:31:25,920 --> 00:31:27,640
Speaker 4: you've got your budget, and that's great, and so many

670
00:31:27,680 --> 00:31:29,400
Speaker 4: of us just write out our budgets, but like could

671
00:31:29,400 --> 00:31:31,360
Speaker 4: go nowhere with it. So I think the fact that

672
00:31:31,440 --> 00:31:33,480
Speaker 4: it writes out your budget tells you your surplus. You've

673
00:31:33,480 --> 00:31:35,600
Speaker 4: got to allocate all of these things. It asks about

674
00:31:35,640 --> 00:31:37,960
Speaker 4: your goals and values, and then it spits out a

675
00:31:38,000 --> 00:31:40,440
Speaker 4: plan to be like, Okay, well, if you have this

676
00:31:40,560 --> 00:31:43,400
Speaker 4: budget and these goals, and these are your savings allocations

677
00:31:43,400 --> 00:31:45,880
Speaker 4: and what you're looking to achieve, these are the amounts

678
00:31:45,880 --> 00:31:47,280
Speaker 4: of money that you need to put in each and

679
00:31:47,360 --> 00:31:50,120
Speaker 4: every single bank account to make this work. And here's

680
00:31:50,160 --> 00:31:52,640
Speaker 4: the structure. And to me, that's the only way I

681
00:31:52,640 --> 00:31:54,920
Speaker 4: can be successful. Like I need the structure.

682
00:31:55,240 --> 00:31:58,040
Speaker 3: Yeah, it's good for my husband as well. He needs

683
00:31:58,080 --> 00:32:01,440
Speaker 3: to see it. He just goes, you know, here's my wage,

684
00:32:01,480 --> 00:32:04,120
Speaker 3: and you deal with it. But I'm very much of no,

685
00:32:04,240 --> 00:32:05,720
Speaker 3: you need to understand this too.

686
00:32:05,960 --> 00:32:08,720
Speaker 4: Yeah, it's nice to see the breakups as well because

687
00:32:08,720 --> 00:32:11,200
Speaker 4: I use that system obviously for my own budget and

688
00:32:11,240 --> 00:32:13,600
Speaker 4: cash flow. That's why I shared it with everybody else.

689
00:32:14,000 --> 00:32:16,360
Speaker 4: But sometimes I look at it and go, oh, I

690
00:32:16,360 --> 00:32:17,640
Speaker 4: didn't realize that cost me.

691
00:32:17,760 --> 00:32:19,480
Speaker 2: That is that actually worth it?

692
00:32:19,520 --> 00:32:22,080
Speaker 4: And like my husband and I will sit down and go, oh, yes, no,

693
00:32:22,280 --> 00:32:24,840
Speaker 4: maybe like oh, we've got this you know, big money

694
00:32:24,840 --> 00:32:27,360
Speaker 4: goal of like just even like frivolous things where it's

695
00:32:27,400 --> 00:32:29,360
Speaker 4: like a couple of thousand dollars and we really really

696
00:32:29,400 --> 00:32:31,719
Speaker 4: want it. It's nice to be able to build it

697
00:32:31,800 --> 00:32:34,360
Speaker 4: in and not feel like it takes a lot from

698
00:32:34,600 --> 00:32:37,800
Speaker 4: I guess our bigger goals. It makes me go, oh, well, actually,

699
00:32:37,880 --> 00:32:39,920
Speaker 4: even though we're planning on, you know, having a baby,

700
00:32:39,960 --> 00:32:43,360
Speaker 4: we've got a baby fund like that doesn't actually compromise

701
00:32:43,400 --> 00:32:45,360
Speaker 4: it that much over this period of time. Yes we

702
00:32:45,400 --> 00:32:48,240
Speaker 4: can have it. Or there's a goal that does compromise it,

703
00:32:48,280 --> 00:32:50,040
Speaker 4: and we go, actually, we thought we wanted to do that.

704
00:32:50,080 --> 00:32:52,440
Speaker 4: I've just done the numbers. Absolutely not, We're not doing that.

705
00:32:52,440 --> 00:32:53,120
Speaker 4: That's so silly.

706
00:32:53,520 --> 00:32:55,880
Speaker 2: I don't know. I just feel more in control. Yeah,

707
00:32:55,920 --> 00:32:57,080
Speaker 2: definitely adore it.

708
00:32:57,080 --> 00:32:58,960
Speaker 4: If anyone's listening and they want to join the money

709
00:32:58,960 --> 00:33:01,760
Speaker 4: master Class, I'll give your little fifty bucks off, which

710
00:33:01,800 --> 00:33:03,480
Speaker 4: is obviously a bit of a money in use the

711
00:33:03,520 --> 00:33:07,280
Speaker 4: code pod fifty so pod of fifty. Back to the show, though,

712
00:33:07,320 --> 00:33:09,240
Speaker 4: money direst I want to bring this down a bit.

713
00:33:09,440 --> 00:33:11,560
Speaker 4: What are money bags? Is worse habits?

714
00:33:11,920 --> 00:33:12,560
Speaker 3: Uber eats?

715
00:33:12,920 --> 00:33:14,440
Speaker 2: Oh same, but we're.

716
00:33:14,360 --> 00:33:17,720
Speaker 4: Keeping the Uber Eats economy afloats, so we're basically a charity.

717
00:33:17,880 --> 00:33:23,040
Speaker 3: That was my argument through lockdown and then yeah, it's

718
00:33:23,080 --> 00:33:27,840
Speaker 3: definitely like when you do sort of the money apps

719
00:33:27,840 --> 00:33:31,560
Speaker 3: that break down like what you've spent in each section.

720
00:33:31,840 --> 00:33:36,400
Speaker 3: I avoid looking at the takeout section. Yeah, fair, because

721
00:33:36,440 --> 00:33:38,640
Speaker 3: it's never a nice thing to look at.

722
00:33:38,760 --> 00:33:41,360
Speaker 4: But why Uber eats? Is it just convenient? Is your

723
00:33:41,400 --> 00:33:42,360
Speaker 4: favorite food on there?

724
00:33:42,600 --> 00:33:45,360
Speaker 2: Is it? You know you don't like cooking? Like, tell

725
00:33:45,400 --> 00:33:46,360
Speaker 2: me a bit more about it.

726
00:33:46,960 --> 00:33:50,200
Speaker 3: Yeah, Look, it's probably the convenience of it. I work

727
00:33:50,280 --> 00:33:54,880
Speaker 3: about an hour and ten minutes from home, so sometimes

728
00:33:54,920 --> 00:33:58,240
Speaker 3: I can be in meetings and things till you know,

729
00:33:58,360 --> 00:34:00,680
Speaker 3: six o'clock at night, and then by the time I

730
00:34:00,680 --> 00:34:02,080
Speaker 3: walk in the door, it's got a past seven, and

731
00:34:02,120 --> 00:34:04,320
Speaker 3: I'm like, the last thing I feel like doing is cooking.

732
00:34:04,600 --> 00:34:05,480
Speaker 3: You're making it in.

733
00:34:05,480 --> 00:34:08,200
Speaker 4: The kitchen, yeah, because then you've got to clean it up,

734
00:34:08,239 --> 00:34:10,960
Speaker 4: and arguably you've been cleaning up after tiny people all day.

735
00:34:11,719 --> 00:34:13,960
Speaker 4: I'm just here being you're like, fang girl, I'll just

736
00:34:14,000 --> 00:34:17,120
Speaker 4: like let you have that bad money have it for now.

737
00:34:17,400 --> 00:34:17,839
Speaker 2: I mean we.

738
00:34:17,800 --> 00:34:20,279
Speaker 4: Probably could pull back on it, but it's okay. I

739
00:34:20,320 --> 00:34:24,680
Speaker 4: totally get it, all right, money darrest. At the start

740
00:34:24,719 --> 00:34:27,320
Speaker 4: of this episode, you said, v I think my money

741
00:34:27,520 --> 00:34:31,600
Speaker 4: grade would be a Bee, and I thought, all right, well,

742
00:34:31,640 --> 00:34:34,239
Speaker 4: I mean her name's money Bags, so I don't know

743
00:34:34,280 --> 00:34:36,279
Speaker 4: if I believe her straight off the bat. Then you

744
00:34:36,320 --> 00:34:38,880
Speaker 4: went on to tell me how you're basically killing it.

745
00:34:38,920 --> 00:34:41,480
Speaker 4: You've got an eighty grand salary and a car, but

746
00:34:42,400 --> 00:34:44,640
Speaker 4: through all of that, you've managed to create twenty five

747
00:34:44,680 --> 00:34:47,120
Speaker 4: thousand dollars in shares. You own two properties, one of

748
00:34:47,160 --> 00:34:50,560
Speaker 4: them's in investment property. You've got a heap of equity.

749
00:34:50,640 --> 00:34:51,680
Speaker 4: At thirty, you.

750
00:34:51,640 --> 00:34:53,400
Speaker 2: Have one hundred grand in super because you told me

751
00:34:53,400 --> 00:34:56,720
Speaker 2: that since the age of nineteen, you've been sacrificing fifteen percent,

752
00:34:57,120 --> 00:34:58,799
Speaker 2: Like what type of nineteen year old does that?

753
00:34:59,239 --> 00:35:01,399
Speaker 4: But then also what type of thirty year old does

754
00:35:01,440 --> 00:35:03,439
Speaker 4: all of this? And then says, oh, I'm still a bee?

755
00:35:04,200 --> 00:35:06,320
Speaker 4: So tell me, do you think that the B is

756
00:35:06,360 --> 00:35:10,840
Speaker 4: still accurate? If so, why if not, what's your new grade?

757
00:35:11,120 --> 00:35:14,080
Speaker 3: I guess when you put it down it probably doesn't

758
00:35:14,120 --> 00:35:19,239
Speaker 3: sound like it. I'd probably say I'm an a. But

759
00:35:19,520 --> 00:35:22,680
Speaker 3: there's always a room for improvement. So I'm very much

760
00:35:23,200 --> 00:35:26,279
Speaker 3: under the belief that you know, there's always something else

761
00:35:26,320 --> 00:35:29,959
Speaker 3: to do or another way to improve and get better

762
00:35:30,000 --> 00:35:34,360
Speaker 3: at something. So I don't believe that you can just

763
00:35:34,400 --> 00:35:36,600
Speaker 3: be a float out a plus and that that's the

764
00:35:36,719 --> 00:35:40,680
Speaker 3: end of the road. So definitely still room for improvement, adore.

765
00:35:40,840 --> 00:35:43,680
Speaker 2: I love that, and I'm glad you upgraded yourself, because

766
00:35:43,680 --> 00:35:45,480
Speaker 2: if you weren't going to upgrade yourself, I'd be like,

767
00:35:46,160 --> 00:35:49,560
Speaker 2: I'm stripping you of your nickname. Nobody's allowed to call

768
00:35:49,560 --> 00:35:52,080
Speaker 2: you money bags unless you call yourself an a. Can't

769
00:35:52,080 --> 00:35:55,040
Speaker 2: take advice from people who don't have conviction in themselves.

770
00:35:55,080 --> 00:35:57,120
Speaker 2: I don't think, yeah.

771
00:35:56,880 --> 00:35:59,400
Speaker 4: All right, money dost. It has been beautiful getting to

772
00:35:59,400 --> 00:36:01,200
Speaker 4: know you. Thank you, Thank you so much for hanging

773
00:36:01,200 --> 00:36:03,600
Speaker 4: out with me, spending some time talking about your money story,

774
00:36:03,640 --> 00:36:06,280
Speaker 4: but also having just a really good chat about childcare,

775
00:36:06,320 --> 00:36:08,680
Speaker 4: having a good chat about how much baby's cost, but

776
00:36:08,719 --> 00:36:11,800
Speaker 4: then also how you've managed to get to eight hundred

777
00:36:11,840 --> 00:36:15,560
Speaker 4: and thirty thousand dollars in equity in your properties.

778
00:36:15,000 --> 00:36:17,400
Speaker 2: Before the age of thirty. Like to me, that's wild.

779
00:36:17,520 --> 00:36:20,560
Speaker 4: So congratulations, but also thank you so much for sharing

780
00:36:20,600 --> 00:36:22,640
Speaker 4: this story. I know our community is going to love it,

781
00:36:22,680 --> 00:36:25,839
Speaker 4: and I just think these stories and money diaries are

782
00:36:25,880 --> 00:36:29,000
Speaker 4: so special and I'm just always so grateful for people.

783
00:36:28,800 --> 00:36:29,760
Speaker 2: Who are willing to share.

784
00:36:30,120 --> 00:36:30,920
Speaker 3: Thanks for having me.

785
00:36:37,520 --> 00:36:40,080
Speaker 6: The advice shared on She's on the Money is general

786
00:36:40,120 --> 00:36:43,959
Speaker 6: in nature and does not consider your individual circumstances. She's

787
00:36:44,000 --> 00:36:47,480
Speaker 6: on the Money exists purely for educational purposes and should

788
00:36:47,520 --> 00:36:50,680
Speaker 6: not be relied upon to make an investment or financial decision.

789
00:36:51,080 --> 00:36:53,480
Speaker 6: If you do choose to buy a financial product, read

790
00:36:53,520 --> 00:36:57,640
Speaker 6: the PDS TMD and obtain appropriate financial advice tailored towards

791
00:36:57,719 --> 00:37:00,960
Speaker 6: your needs. Victoria Divine and She's on the Money are

792
00:37:01,040 --> 00:37:04,440
Speaker 6: authorized representatives of Money sherper P T y L t

793
00:37:04,560 --> 00:37:07,319
Speaker 6: D A b N three two one six four nine

794
00:37:07,440 --> 00:37:10,399
Speaker 6: two seven seven zero eight a F s L four

795
00:37:10,480 --> 00:37:14,080
Speaker 6: five one two eight nine