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Speaker 1: Hello.

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Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud Yr the

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Speaker 2: Order Kerney Whoalbury and a waddery woman. And before we

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Speaker 2: get started on She's on the Money podcast, I would

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Speaker 2: like to acknowledge the traditional custodians of the land of

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Speaker 2: which this podcast is recorded on a wondery country, acknowledging

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Speaker 2: the elders, the ancestors and the next generation coming through.

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Speaker 2: As this podcast is about connecting, empowering, knowledge sharing and

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Speaker 2: the storytelling of you to make a difference for today

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Speaker 2: and lasting impact for tomorrow.

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Speaker 1: 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.

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Speaker 1: Welcome back to another one of our Money.

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Speaker 4: Diary episodes where I get the absolute privilege of sitting

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Speaker 4: down with one of our Shees on the Money community

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

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Speaker 4: straight into it, because this week I got an email

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Speaker 4: and it went like this.

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Speaker 1: Hi V.

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Speaker 4: I'm a twenty nine year old law student and full

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Speaker 4: time employee in litigation. I'm also a part time bonus

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Speaker 4: mum dealing with infertility and juggling finances while doing all

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Speaker 4: of that. My partner and I spent ten thousand dollars

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Speaker 4: for three rounds of IVF, and I really want to

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Speaker 4: share my experience of the impact that these procedures have

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Speaker 4: on your finances and on your relationships. Money Darist, welcome

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Speaker 4: to the show. Hello, thank you for having me, No,

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Speaker 4: thank you for wanting to share your story with me.

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Speaker 4: I'm very excited and very grateful. Do you want to

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Speaker 4: dive straight in?

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Speaker 5: Yeah, let's go for it, all right.

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Speaker 4: First question, as always, is if I asked you to

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Speaker 4: give your money habits a grade from A through to F,

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Speaker 4: what would you grade your money habits?

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Speaker 5: So I gave this a lot of thought, and I

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Speaker 5: think I've settled on a B minus.

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Speaker 1: A B minus. All right, let's get into it.

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Speaker 4: My favorite question, which comes as no surprise to anyone,

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Speaker 4: is money. Durist, can you tell me a little bit

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Speaker 4: more about your money story.

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Speaker 1: Yeah.

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Speaker 5: So, I grew up in a family where money was

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Speaker 5: never really something that was discussed, but it was also

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Speaker 5: never really something that was an issue. We were very

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Speaker 5: much thoroughly middle class, which I think really impacted me

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Speaker 5: when I finally moved out of home and went to

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Speaker 5: UNI because I remember very clearly the first time I

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Speaker 5: had twenty dollars in my bank account and I went,

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Speaker 5: what am I going to do? What am I going

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Speaker 5: to do for food? And I ended up working two

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Speaker 5: jobs at a time and pulling it together. But that

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Speaker 5: was a really big turning point for me was learning

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Speaker 5: how to actually do a budget for the first time,

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Speaker 5: because I never had to budget before.

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Speaker 1: No, totally.

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Speaker 4: And money's hard and you don't realize it's hard until

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Speaker 4: you're on your own with it, Yes.

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Speaker 5: Exactly, because before I could always rely on my parents

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Speaker 5: to bail me out when I spent my you know,

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Speaker 5: fifty dollars pay check from working at the Chicken Shop

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Speaker 5: on lip gloss. You know.

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Speaker 1: Oh, I love that. That's so relatable.

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Speaker 4: I liked with the ice cream shop which was just

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Speaker 4: down from the Chicken Shop, and I was going to

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Speaker 4: Priceline and buying all my lip glosses when I had

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Speaker 4: free time.

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Speaker 1: Yeah, one hundred percent.

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Speaker 4: Lipschmackers had them all, like the glossy ones. Though, because

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Speaker 4: obviously I'm not a child, I didn't just have the

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Speaker 4: barm Ones.

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Speaker 5: No, No, the barm Ones with the little crystal lids.

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Speaker 4: Oh yeah, those were bougie, but the glitter in them

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Speaker 4: was too gritty.

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Speaker 5: Yes, yes, yeah, exactly, same page, same That's why.

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Speaker 1: It doesn't exist anymore.

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Speaker 4: It's got nothing to do with the fact that times

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Speaker 4: have changed, and everything to do with that was a

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Speaker 4: flaw in their product.

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Speaker 5: Yeah, but they could have marketed it as an exfoliant

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Speaker 5: and then consult.

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Speaker 1: I had a blue one, so I'm glad they were

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Speaker 1: on the same.

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Speaker 5: Page very much.

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Speaker 4: So you became an adult and you had your first

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Speaker 4: twenty dollars?

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Speaker 1: What then happened? You went to UNI? Take us all

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Speaker 1: the way through to the age of twenty nine.

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Speaker 5: Okay, So I went to UNI originally when I was

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Speaker 5: seventeen years old and I didn't really know what I

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Speaker 5: wanted to do. I said, what makes me sound smart

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Speaker 5: and employable? And I decided to do journalism. Then my

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Speaker 5: first day of my journalism cause, the lecturer stood up

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Speaker 5: and said, journalism is a dying profession. You have two

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Speaker 5: weeks till the census date. I suggest you consider doing

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Speaker 5: something else.

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Speaker 4: Ah cool, I guess I see myself out, sir nice.

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Speaker 1: And so were you like me?

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Speaker 4: And you well like see you in hell and kept

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Speaker 4: doing it? Or did you change I did.

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Speaker 1: For a little bit.

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Speaker 5: I did, and then I promptly fell into a pretty

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Speaker 5: bad loop of anxiety and depression and that was the

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Speaker 5: end for me. I was like, you know what, we're done.

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Speaker 5: We're going to take a break, We're going to focus

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Speaker 5: on ourselves. And I ended up working a few different jobs,

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Speaker 5: working in retail, and then I eventually moved into the

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Speaker 5: public service, where I started my career as a criminal investigator.

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Speaker 4: Oh wow, yeah, a bit of a like left term.

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Speaker 4: I just started my career there. That's all good, first normal.

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Speaker 1: But it was through.

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Speaker 5: That role, where I started doing investigations and working more

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Speaker 5: in regulation, that I discovered my passion for law. So

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Speaker 5: I left the public service and I'm now in a

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Speaker 5: litigation team and a private law firm.

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Speaker 1: Oh that sounds so fancy, and you're still just in

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Speaker 1: your twenties.

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Speaker 5: Yeah, well, yes, I'm still in the process of getting

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Speaker 5: my law degree. But you know, we'll get their direction

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Speaker 5: is more important than speed.

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Speaker 4: I love that. That is very, very true. So tell

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Speaker 4: me a bit more about your personal life. So obviously

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Speaker 4: you've got bougie job, You've had some very fancy experiences.

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Speaker 4: But when you wrote in you said, I'm also a

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Speaker 4: part time bonus mom. Yes, about that, and then I

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Speaker 4: want to talk about infertility because we don't talk about

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Speaker 4: that enough.

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Speaker 5: Yes, one hundred. My stepdaughter is pretty much the coolest

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Speaker 5: person in the world. I know it's kind of lame

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Speaker 5: to talk about it like that, but she's so confident

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Speaker 5: and funny and bubbly and she just she just does

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Speaker 5: not let anything hold her back and it's just really cool.

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Speaker 5: I don't know, she's such a cool I love that, man,

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Speaker 5: I love that so much. Yeah.

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Speaker 4: I feel like all step daughters deserve their future step

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Speaker 4: moms or current step moms to have that same amount

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Speaker 4: of energy for them.

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Speaker 1: Yeah.

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Speaker 5: Well, I met her dad through work when we were

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Speaker 5: working together as investigators. It was very like office romance.

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Speaker 5: It was god chairs. And then when I decided, you know,

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Speaker 5: I was like, Ah, this man's gonna be my husband

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Speaker 5: and I'm gonna, you know, do the step mom thing.

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Speaker 5: I kind of really sat down with that and was like, well,

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Speaker 5: I'm gonna take it really seriously because she deserves, like

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Speaker 5: she didn't choose this circumstance, and she deserves one hundred

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Speaker 5: percent of my effort. If I'm gonna do it, I'm

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Speaker 5: gonna do it right, So I kind of just jumped

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Speaker 5: in feet first and it worked out really well somehow.

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Speaker 1: Clearly I love that.

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Speaker 4: And then you and your husband, you've been trying to

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Speaker 4: become second time parents.

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Speaker 5: Yes, so I have a fertility issue, which is called

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Speaker 5: primary ovarian failure or primary ovarian insufficiency. So essentially what

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Speaker 5: that means is I'm perimenopausal at twenty nine.

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Speaker 1: So that's so hard.

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Speaker 5: Yeah, it's kind of a big thing to come to

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Speaker 5: terms with. We started going through the IVF and the

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Speaker 5: IUI procedures and getting all of those ducks in a row,

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Speaker 5: because even getting to the point of the actual fertility

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Speaker 5: procedure is so long, Like you have to do so

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Speaker 5: many tests and there's so many hurdles. And we actually

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Speaker 5: felt pregnant in November last year, but we miscarried at

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Speaker 5: the start of the year in about January.

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Speaker 1: I did too, That's exactly my timeline.

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Speaker 5: I'm sorry.

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Speaker 1: It sucks.

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Speaker 4: Yeah, I know that is so bad. I'm so sorry

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Speaker 4: that you went through that. It's the shittiest club to

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Speaker 4: be involved in ever.

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Speaker 5: Yeah, I know. But I will say, actually, like, and

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Speaker 5: I hope this isn't like two kind of like, but

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Speaker 5: when I saw you posting about your experiences at the

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Speaker 5: same time I was going through it. It was kind

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Speaker 5: of really nice.

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Speaker 1: Oh I'm so glad because that's why I did it.

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Speaker 4: I feel like there were lots of people and you

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Speaker 4: know what, miscarriages sutn't underspoken about topic. And the more

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Speaker 4: I spoke about it, the more I realize. I know,

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Speaker 4: it's one in four, but when you start talking about it,

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Speaker 4: you just feel like it's like everyone's doing it.

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Speaker 5: Everyone's got a story.

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Speaker 4: I swear every single person that I spoke to would

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Speaker 4: be like, oh yeah, me too, or oh my sister,

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Speaker 4: oh my thing, like everyone had a story. And I

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Speaker 4: was like, well, why didn't I know this before I

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Speaker 4: was going through this? And this felt so lonely. Why

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Speaker 4: didn't I know this going in? Because I just thought

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Speaker 4: it was locked and loaded the second I got a

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Speaker 4: positive pregnancy test, right, Like, I just thought that that's

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Speaker 4: how it worked, right, Like I'm healthy, I'm okay, I'm

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Speaker 4: not in a circumstance like you. I just thought it

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Speaker 4: was going to be perfect, and unfortunately that's not the circumstance,

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Speaker 4: and like that's okay. But I think talking about it

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Speaker 4: makes it so much easier because if I share my

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Speaker 4: load and you share it with yours, I know that

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Speaker 4: I'm not alone, and I know that I'm not the

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Speaker 4: only one to go through this. And you know, it's

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Speaker 4: not a reflection of me being a terrible mum. It's

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Speaker 4: actually got nothing to do with that. And I think

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Speaker 4: a lot of the time we blame ourselves for not

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Speaker 4: doing something, or doing something wrong, or messing it up somehow,

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Speaker 4: and that's not the case at all, Absolutely not the case.

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Speaker 5: No, but sometimes you need someone externally to give you

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Speaker 5: that reminder.

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Speaker 1: One hundred percent.

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Speaker 4: So you went through three rounds of IVF how to miscarriage, Yes,

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Speaker 4: that's bullshit.

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Speaker 1: What happened next?

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Speaker 5: So essentially we're at the point now where we need

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Speaker 5: to look at using donor conception and using donor eggs.

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Speaker 5: So we did the three rounds of IVF. We spent

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Speaker 5: about ten thousand dollars getting that all together, and that's

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Speaker 5: including things like interstate travel, hotels, accommodation. Because and this

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Speaker 5: is something I did not know until I started getting

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Speaker 5: into this, is that where I am in the act,

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Speaker 5: there's no bulk build IVF clinics.

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Speaker 1: What really, Yes, So if you're.

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Speaker 5: In the act, you have to travel to Sydney to

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Speaker 5: be able to access bulk build IVF. So a bulk

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Speaker 5: build IVF round is about three thousand dollars a cycle,

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Speaker 5: where a private clinic IVF round is about ten thousand.

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Speaker 1: Dollars a cycle.

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Speaker 4: That's an insane amount of differences. And obviously that's the

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Speaker 4: difference between you being able to do one round and

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Speaker 4: three and three is what led to your pregnancy, right and.

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Speaker 5: Yeah, oh my gosh, it's crazy. But yeah, so the

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Speaker 5: next step for us is looking at donor conception. So

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Speaker 5: we're very lucky that the clinic that we are going

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Speaker 5: through in Sydney they've actually just recently introduced known donor

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Speaker 5: conception services in their bulk build rounds. Yeah, so we

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Speaker 5: got very lucky with timing because it's really again just

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Speaker 5: the price difference, like to be able to do a

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Speaker 5: bulk build round with the in a program coordination fees,

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Speaker 5: the costs associated with IVF cycles in general. Keep in

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Speaker 5: mind you're basically doing it with two people, so I

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Speaker 5: would be having IVF medication, my donor would be having

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Speaker 5: IVF medication.

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Speaker 1: All of that.

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Speaker 5: It's about maybe five thousand dollars a cycle.

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Speaker 4: I mean, that's not as bad as it could be,

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Speaker 4: but I mean the idea that it could be more

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Speaker 4: fruitful as well gives me a lot of hope.

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Speaker 5: Yes, yes, and again the private clinic is about fifteen

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Speaker 5: thousand dollars a cycle.

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Speaker 1: Oh my gosh.

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Speaker 4: So how did you learn so much about the difference

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Speaker 4: between public and private? Because I feel like fertility and

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Speaker 4: going through this is so convoluted. I know a lot

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Speaker 4: about it here in Melbourne because I've been going through

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Speaker 4: the processes myself to make sure that I will be

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Speaker 4: able to have a healthy pregnancy. But looking at the

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Speaker 4: price differences, like I just I'm shocked at the differences

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Speaker 4: even between private clinics and what that looks like and

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Speaker 4: how that works, and the wait lists in Victoria for

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Speaker 4: the public system to me are insane. So how did

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Speaker 4: you navigate this when going head in?

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Speaker 5: I am very fortunate that I had someone very close

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Speaker 5: to me who had gone through. My cousin had gone

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Speaker 5: through six rounds of IVF to have her little girl.

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Speaker 1: Oh my gosh.

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Speaker 5: Yeah, so she was a really really good resource to

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Speaker 5: me personally. If anyone is looking at IVF as well.

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Speaker 5: There was a reality show recently, was there. It's called

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Speaker 5: Big Miracles.

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Speaker 4: Oh I saw that, and then I blocked it out

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Speaker 4: completely because I didn't want anything baby related in my life. Yeah,

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Speaker 4: so it turned off the TV. But I'm glad it

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Speaker 4: was good.

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Speaker 5: Yes. No, I did the exact same thing because it

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Speaker 5: aired when it was still a little bit too close

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Speaker 5: to home for me after my fast courage, and I went, no, thanks, thanks, bye,

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Speaker 5: I don't care about your big miracle. Yeah, enjoy your baby. Ah.

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Speaker 5: But I end up going back and rewatching it recently.

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Speaker 1: Oh, I'm glad. It's really really.

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Speaker 5: Helpful resource as well. So that's a really good place.

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Speaker 5: But I think a lot of it just comes down

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Speaker 5: to independent research because, as you said, even between the

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Speaker 5: private clinics like Jeneia just costs so much. Their price

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Speaker 5: is so different to IVF Australia or you know, it's

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Speaker 5: really just about digging in and taking the free consultations

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Speaker 5: and working out what's going to be best for you

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Speaker 5: and your individual circumstances.

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Speaker 4: It's so time intensive as well. Like doing all of that,

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Speaker 4: I just my heart goes out to you because I'm

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Speaker 4: just like, oh, this must be such a stressful process

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Speaker 4: and it must be really hard, but I want to

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Speaker 4: know a bit more about I guess your feelings towards this.

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Speaker 4: You seem really positive, Like I talked to so many

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Speaker 4: people about topics like this all the time, and it's

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Speaker 4: not as upbeat when you have this conversation, Like you

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Speaker 4: seem to be a very very similar mindset to me

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Speaker 4: where you.

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Speaker 1: Like, you know what it was? Shit, it was awful.

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Speaker 1: I hated every second of it.

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Speaker 4: I wouldn't wish it on anybody, but also it is

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Speaker 4: what it is, and I will move on. Is that

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Speaker 4: where you're at, Like, how have you managed this? How

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Speaker 4: have you dealt with all of it? Because it is

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Speaker 4: really heavy.

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Speaker 5: Yes, first and foremost, I would like to shout out

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Speaker 5: my therapist. She's done a lot of the heavy lifting,

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Speaker 5: so we really appreciate her. She's done a great work.

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Speaker 5: But yeah, I think it was The DNC was probably

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Speaker 5: the single worst experience of my entire life. And at

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Speaker 5: the end of the day, it sucked and it was

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Speaker 5: horrible and it's not something I would ever ever wish

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Speaker 5: anyone to experience, but I can't change it. Yeah, and

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Speaker 5: you know, the Doner route, it's not anyone's first choice,

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Speaker 5: but it's the cards that I've been dealt with. My

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Speaker 5: body and there's no point trying to be angry at

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Speaker 5: my body because it's done a lot of good things

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Speaker 5: for me too, to keep me safe and keep me

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Speaker 5: healthy and keep me going.

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Speaker 1: But yeah, I don't know. It's hard.

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Speaker 5: It's hard.

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Speaker 1: Yeah.

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Speaker 4: No, No, I'm really proud of you that I feel

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Speaker 4: like you are on the right track doing good things.

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Speaker 1: And I can tell you're going to be the best mum.

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Speaker 1: Like it's coming. It's coming. That's so exciting.

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Speaker 5: Yes, put it into the universe. It'll come true.

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Speaker 1: I put everything into the universe, I promise. All right.

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Speaker 1: I want to know now.

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Speaker 4: I want to need to know a bit more. You

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Speaker 4: said that you work in full time litigation. So what

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Speaker 4: does that mean and how much do you earn?

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Speaker 5: Yeah, so I earn about ninety seven thousand dollars a year. Oh,

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Speaker 5: big dog, big dog energy.

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Speaker 1: Will fourth?

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Speaker 5: Please don't put that in the podcast.

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Speaker 1: Hope it's staying in. It's staying in. I'm keeping it. No,

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Speaker 1: I am the producer.

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Speaker 4: No you can get out, No, nope, I'm keeping it.

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Speaker 1: I loved it.

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Speaker 5: Yeah. So I I am a legal secretary in a

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Speaker 5: litigation practice in a private law firm. So that means

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Speaker 5: that our primary clients are Commonwealth government agencies, and we

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Speaker 5: represent the Commonwealth government agencies in litigation when other parties

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Speaker 5: initiate litigation against Yeah, so we represent the government when

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Speaker 5: they get suit. Basically yeah, yeah, cool, yeah, how fun?

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Speaker 1: Is that real? Spicy?

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Speaker 4: Obviously you're going to have signed an NDA, so you

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Speaker 4: can't tell me any spicy stories.

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Speaker 1: But I'm sure you can tell me whether it is

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Speaker 1: spicy or not.

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Speaker 5: All my the spice levels are through the roof some

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Speaker 5: of the goths.

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Speaker 1: See, that's why I should have worked in law. I

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Speaker 1: should have worked in law for the gossip.

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Speaker 5: Honestly, I think that's why I'm becoming a lawyer is

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Speaker 5: because the tea is so hot.

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Speaker 4: As long as you're not sharing it's exactly, it's good.

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Speaker 4: Just keep that to yourself, and then when you're at

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Speaker 4: the supermarket and that person walks past, you could be like,

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Speaker 4: I know something you don't know.

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Speaker 5: Yeah, yeah, ye, yeah, it's great. It's honestly, it's it's

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Speaker 5: so good. But yeah, some of the gossip incredible. And

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Speaker 5: it's also really helpful as well, because I am in

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Speaker 5: the process of getting my law degree, so being able

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Speaker 5: to work full time in a private firm in that

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Speaker 5: litigation space.

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Speaker 4: And getting that exposure before you actually jump in. That's

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Speaker 4: really cool.

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Speaker 5: And all the networking, all the contacts.

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Speaker 4: Oh I love that for you. Yeah, all right, I

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Speaker 4: want to know next, what is your big money goal?

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Speaker 4: What are you currently working towards?

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Speaker 5: So currently we have two big money goals. Our first

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Speaker 5: is to save a deposit to buy our own house,

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Speaker 5: and our second is to save up a bit more

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Speaker 5: money so we can commence some further IVF rounds using

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Speaker 5: an egg downer.

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Speaker 1: Oh how exciting? Do you have timelines on either of

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Speaker 1: those goals?

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Speaker 5: So we should be able to purchase a house late

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Speaker 5: next year, so we're looking about November December next year

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Speaker 5: we'll be able to buy and then hopefully we'll be

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Speaker 5: able to start IVF. You visiting an egg donor just

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Speaker 5: after that?

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Speaker 1: So exciting.

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Speaker 5: Yeah, I have someone who's agreed to be an egg

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Speaker 5: donor for me.

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Speaker 1: Actually, yeah, that's so special.

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Speaker 5: Yeah my cousin.

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Speaker 1: Oh no, that's so special because.

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Speaker 5: Then we have at least a genetic bond.

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Speaker 1: Yeah, no, I love that so much.

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Speaker 5: Yeah, she's been through so much with her IVF journey

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Speaker 5: that she was like, let's do it. But she's just

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Speaker 5: given birth, so she wants to wait about eighteen months, which.

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Speaker 1: Is so fair, totally fair.

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Speaker 5: So that takes the pressure off a bit.

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Speaker 4: Yeah, time to set up, time to plan. Oh my gosh,

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Speaker 4: I'm so excited for you. That's such a special connection

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Speaker 4: that you guys will have.

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Speaker 1: How awesome.

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Speaker 4: All right, I have a million more questions. I'm going

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Speaker 4: to go to a really quick break. But on the

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00:19:52,920 --> 00:19:54,879
Speaker 4: flip side, I want to know about your investments. I

402
00:19:54,880 --> 00:19:56,840
Speaker 4: want to know about your good money habits, your bad

403
00:19:56,840 --> 00:19:59,159
Speaker 4: money habits, and if you have any debts.

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Speaker 1: So guys don't go anywhere.

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Speaker 4: All right, money Diarist, We are back, and I am

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Speaker 4: loving this chat. I feel like it's so open, so honest,

407
00:20:11,200 --> 00:20:13,120
Speaker 4: so raw, but also like we just think we're really

408
00:20:13,160 --> 00:20:14,760
Speaker 4: funny this whole entire time.

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Speaker 1: So solid ten out of ten us. But talk to me.

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Speaker 1: Do you have any investments, If so, what are they.

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Speaker 5: So I'm in the process of growing my spaceship portfolio.

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Speaker 5: So I've got roughly about one thousand dollars in Spaceship

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Speaker 5: and I've got ninety six thousand dollars in Super.

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Speaker 4: Oh how do you have so much in Super? That's

415
00:20:36,040 --> 00:20:37,760
Speaker 4: a flex at twenty nine?

416
00:20:38,760 --> 00:20:43,600
Speaker 5: Yeah, No, I got really into this money podcast. I

417
00:20:43,600 --> 00:20:45,639
Speaker 5: don't know if you've heard of it. It's called Money

418
00:20:45,960 --> 00:20:51,280
Speaker 5: Sounds Trash. Yeah, And I started doing some salary sacrificing

419
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Speaker 5: into my super account and really bumped it up, so

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Speaker 5: I've been able to really contribute into that with the

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Speaker 5: view of using some of those additional contributions to help

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Speaker 5: fund our house deposit through the first.

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Speaker 1: Oh, how good is that? How long have you been

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Speaker 1: doing that?

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00:21:07,400 --> 00:21:12,040
Speaker 5: Probably about a year and a half, almost two years now. Yeah,

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Speaker 5: And they've just increased the cap as well, which is

427
00:21:14,600 --> 00:21:15,280
Speaker 5: how they did.

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Speaker 4: It's now fifty thousand dollars instead of thirty thousand dollars,

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00:21:18,119 --> 00:21:21,119
Speaker 4: which goes a lot further, like thirty thousand dollars is

430
00:21:21,200 --> 00:21:23,240
Speaker 4: not enough, and I mean fifty thousand dollars in most

431
00:21:23,280 --> 00:21:26,040
Speaker 4: places is not enough either, but it definitely takes the

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Speaker 4: pressure off. And I did all of the maths, and

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00:21:28,240 --> 00:21:30,240
Speaker 4: you end up on a marginal tax rate of thirty

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Speaker 4: two point five cents in every dollar, nearly ten thousand

435
00:21:33,840 --> 00:21:36,280
Speaker 4: dollars better off by using the scheme, which is a

436
00:21:36,280 --> 00:21:40,120
Speaker 4: money win, massive money win, and most people are actually

437
00:21:40,160 --> 00:21:42,680
Speaker 4: on that thirty two point five cents in the dollar.

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00:21:43,040 --> 00:21:45,680
Speaker 4: If you have a higher marginal tax rate. My friend,

439
00:21:45,760 --> 00:21:48,280
Speaker 4: you are actually even better off because the more tax

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00:21:48,320 --> 00:21:50,120
Speaker 4: you're paying, the more you're saving by using the first

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00:21:50,119 --> 00:21:54,320
Speaker 4: time super Savior scheme. So money win for everybody. Tell

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00:21:54,320 --> 00:21:57,240
Speaker 4: me how you started contributing to that for the first

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00:21:57,240 --> 00:22:00,560
Speaker 4: home super Savior scheme though? Did you contact your super

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Speaker 4: fund and explain yourself or did you just start be

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Speaker 4: paying it over or like?

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Speaker 1: What was the process?

447
00:22:06,880 --> 00:22:10,760
Speaker 5: Yeah? So I actually sat down about eighteen months ago

448
00:22:10,840 --> 00:22:14,160
Speaker 5: and reviewed my whole financial situation.

449
00:22:14,520 --> 00:22:15,080
Speaker 1: Very sexy.

450
00:22:15,200 --> 00:22:15,639
Speaker 4: I like that.

451
00:22:15,840 --> 00:22:18,080
Speaker 5: I know it's very hot. My husband and I have

452
00:22:18,200 --> 00:22:21,560
Speaker 5: monthly financial date nights, turn out a ten yeah, a

453
00:22:21,600 --> 00:22:24,560
Speaker 5: bottle of Aldi wine and a Domino's pizza, and our

454
00:22:24,600 --> 00:22:25,440
Speaker 5: life has never been back.

455
00:22:25,760 --> 00:22:29,440
Speaker 1: Whim money, whim right? Which Audi wine? Though?

456
00:22:29,640 --> 00:22:30,919
Speaker 5: The rose obviously?

457
00:22:31,119 --> 00:22:34,640
Speaker 1: The La Mule, Yes, an elite choice see obviously.

458
00:22:35,560 --> 00:22:39,159
Speaker 5: But yes, So I sat down, I reviewed my super

459
00:22:39,200 --> 00:22:42,280
Speaker 5: funds performance. I decided I wasn't happy with the way

460
00:22:42,280 --> 00:22:44,359
Speaker 5: they were performing in the fees I was paying. So

461
00:22:44,400 --> 00:22:48,639
Speaker 5: I kicked them to the curve, called around and spoke

462
00:22:48,680 --> 00:22:51,080
Speaker 5: to my now super fund and said, this is my goal,

463
00:22:51,200 --> 00:22:53,040
Speaker 5: this is where I want to be. I'm looking at

464
00:22:53,119 --> 00:22:56,000
Speaker 5: joining What can you do for me, and they set

465
00:22:56,040 --> 00:22:59,440
Speaker 5: me up with one of their financial planners and they

466
00:22:59,480 --> 00:23:01,600
Speaker 5: sat down with me and said, if you join our

467
00:23:01,720 --> 00:23:04,359
Speaker 5: super scheme, this is what we can do, this is

468
00:23:04,400 --> 00:23:05,280
Speaker 5: how we can do it.

469
00:23:06,080 --> 00:23:08,439
Speaker 1: And I was like, sure, how cool.

470
00:23:08,800 --> 00:23:11,600
Speaker 5: Yeah, they were really really helpful and I just be

471
00:23:11,760 --> 00:23:14,280
Speaker 5: pay at the end of each financial year, I do

472
00:23:14,359 --> 00:23:14,960
Speaker 5: a big bulk.

473
00:23:15,240 --> 00:23:17,760
Speaker 4: Can I be real pervy? So you did all your research,

474
00:23:18,000 --> 00:23:19,720
Speaker 4: who did you decide to go with? Not so I

475
00:23:19,720 --> 00:23:21,520
Speaker 4: can share my opinion. I'm just real pervy, you know.

476
00:23:21,600 --> 00:23:23,639
Speaker 4: I just want to know where you picked and why.

477
00:23:24,440 --> 00:23:27,200
Speaker 4: So I ended up going with UNI super and why.

478
00:23:27,760 --> 00:23:33,480
Speaker 5: Previously I was with the Public Sector Superannuation Fund and PSSAP.

479
00:23:33,960 --> 00:23:38,040
Speaker 5: They were good, but their fees were is astronomical compared

480
00:23:38,080 --> 00:23:41,679
Speaker 5: to UNI seeper. UNI seper was performing on average better

481
00:23:42,320 --> 00:23:45,640
Speaker 5: and I know past performers blah blah blah blah blah.

482
00:23:45,640 --> 00:23:49,560
Speaker 5: I know, but they on average performed better over the

483
00:23:49,640 --> 00:23:53,600
Speaker 5: last five ten years and their fees were about half cool.

484
00:23:54,000 --> 00:23:56,679
Speaker 5: So I was like, let's go. Why would I not

485
00:23:57,160 --> 00:24:01,920
Speaker 5: want to pay less to get if not but better results.

486
00:24:02,440 --> 00:24:05,040
Speaker 4: So you mentioned before that they set you up with

487
00:24:05,080 --> 00:24:08,159
Speaker 4: a financial advisor, and I know that's a service they provide.

488
00:24:08,320 --> 00:24:10,880
Speaker 4: But a lot of people listening and know what did

489
00:24:10,920 --> 00:24:13,120
Speaker 4: you pay for that? Was that a paid service when

490
00:24:13,119 --> 00:24:15,840
Speaker 4: you sat down with your financial advisor from UNI super?

491
00:24:16,280 --> 00:24:19,199
Speaker 5: No? No, it was absolutely free and it's something that

492
00:24:19,359 --> 00:24:23,719
Speaker 5: all super funds, oh maybe not all, most most super funds, yeah,

493
00:24:23,920 --> 00:24:27,639
Speaker 5: offer and it was really helpful. They also had a

494
00:24:27,680 --> 00:24:32,640
Speaker 5: bunch of really good resources. They do webinars, they have ebooks,

495
00:24:32,680 --> 00:24:35,800
Speaker 5: and you can access a free financial advisor through them

496
00:24:35,800 --> 00:24:37,000
Speaker 5: a couple of times a year.

497
00:24:37,280 --> 00:24:39,440
Speaker 1: Money win, Yeah, money win.

498
00:24:39,760 --> 00:24:41,679
Speaker 5: Who doesn't want to be set up for retirement?

499
00:24:42,320 --> 00:24:44,399
Speaker 4: I mean lots of people because they just want to

500
00:24:44,400 --> 00:24:46,080
Speaker 4: bury their heads in the sand, But not you, by

501
00:24:46,119 --> 00:24:46,760
Speaker 4: the sounds of it.

502
00:24:46,720 --> 00:24:48,280
Speaker 1: Which I think is very very good.

503
00:24:48,640 --> 00:24:49,040
Speaker 5: Thank you.

504
00:24:50,359 --> 00:24:52,560
Speaker 4: So you've got your spaceship and then you've got your

505
00:24:52,600 --> 00:24:54,960
Speaker 4: ninety seven thousand dollars in super it's going to be

506
00:24:55,000 --> 00:24:57,000
Speaker 4: used towards your first home super Savior scheme.

507
00:24:57,520 --> 00:24:59,200
Speaker 1: Let's bring down the mood. Do you have any debt?

508
00:24:59,400 --> 00:25:02,480
Speaker 5: I am con human, debt free, very sexy, Thank you.

509
00:25:02,800 --> 00:25:05,560
Speaker 5: I do have a hex stat which is roughly about

510
00:25:05,560 --> 00:25:08,760
Speaker 5: twenty thousand dollars, and by the time I finish my

511
00:25:09,080 --> 00:25:12,640
Speaker 5: law degree, it's probably gonna be sitting a little bit

512
00:25:13,080 --> 00:25:16,600
Speaker 5: higher up, closer to about the sixty grandmark.

513
00:25:16,840 --> 00:25:17,600
Speaker 1: That's all right.

514
00:25:18,000 --> 00:25:20,480
Speaker 5: Yeah, look, when I'm earning the big bucks as a partner,

515
00:25:20,720 --> 00:25:21,560
Speaker 5: It'll be worth it.

516
00:25:21,400 --> 00:25:24,000
Speaker 4: It'll be fine, and you're paid off in no time.

517
00:25:24,440 --> 00:25:26,560
Speaker 4: And be honest, a lot of my clients when I

518
00:25:26,640 --> 00:25:29,520
Speaker 4: was a financial advisor used to be lawyers, and because

519
00:25:29,560 --> 00:25:32,199
Speaker 4: they have such high incomes, they smash their hex stets

520
00:25:32,200 --> 00:25:34,680
Speaker 4: off really really quickly, and I used to be very

521
00:25:34,800 --> 00:25:35,439
Speaker 4: envious of that.

522
00:25:35,920 --> 00:25:37,359
Speaker 5: Ah, good to know.

523
00:25:37,880 --> 00:25:40,560
Speaker 1: Yeah, so it is something definitely to look forward to.

524
00:25:41,040 --> 00:25:43,960
Speaker 4: Yes, I want to know now, though, what do you

525
00:25:43,960 --> 00:25:45,720
Speaker 4: think is your best money habit?

526
00:25:46,119 --> 00:25:50,520
Speaker 5: My best money habit is that my cash flow system

527
00:25:50,960 --> 00:25:55,760
Speaker 5: is completely automated, So everything is set up, the money

528
00:25:55,840 --> 00:25:59,120
Speaker 5: hits the bank accounts, it gets transferred where it needs

529
00:25:59,200 --> 00:26:02,240
Speaker 5: to go, and I don't have to check my bank

530
00:26:02,240 --> 00:26:06,800
Speaker 5: account at all. It's all completely automated and ready to go.

531
00:26:07,000 --> 00:26:10,120
Speaker 1: How did you do that? That sounds like some wizard stuff.

532
00:26:11,320 --> 00:26:14,800
Speaker 5: The budget and cash Flow Masterclass. Oh I feel like

533
00:26:14,880 --> 00:26:18,200
Speaker 5: I'm just like spreaking you at the moment, Like I'm.

534
00:26:18,000 --> 00:26:21,919
Speaker 4: Really enjoying this conversation for incredibly selfish reasons.

535
00:26:21,920 --> 00:26:23,639
Speaker 1: I was about to be like how did you automate

536
00:26:23,680 --> 00:26:23,920
Speaker 1: it all?

537
00:26:23,960 --> 00:26:27,119
Speaker 4: Like I'm genuinely interested, though, can you tell me, like,

538
00:26:27,200 --> 00:26:29,080
Speaker 4: how did you set it up to work for you?

539
00:26:29,119 --> 00:26:32,879
Speaker 4: Because obviously, in my Budget and cash Flow master Class, there's,

540
00:26:33,080 --> 00:26:35,359
Speaker 4: you know, a set standard, but it doesn't tell you

541
00:26:35,440 --> 00:26:37,720
Speaker 4: like which bank to go with because that would be illegal,

542
00:26:37,880 --> 00:26:40,280
Speaker 4: And it doesn't tell you you know, where you should

543
00:26:40,320 --> 00:26:43,040
Speaker 4: actually put your money when it comes to the actual product.

544
00:26:43,119 --> 00:26:45,560
Speaker 1: How did you decide that and make sure it worked

545
00:26:45,600 --> 00:26:45,840
Speaker 1: for you?

546
00:26:46,720 --> 00:26:50,200
Speaker 5: Yeah, So my personal bank account, I am with UP

547
00:26:50,560 --> 00:26:53,200
Speaker 5: because that works for me and I love being able

548
00:26:53,240 --> 00:26:56,639
Speaker 5: to have lots of individual sinking funds and all that

549
00:26:56,720 --> 00:27:00,320
Speaker 5: kind of stuff, whereas my husband is with a different bane.

550
00:27:00,560 --> 00:27:04,320
Speaker 5: So primarily we have a two up account and our

551
00:27:04,400 --> 00:27:08,320
Speaker 5: paychecks both hit the account and then from there we

552
00:27:08,359 --> 00:27:12,960
Speaker 5: are able to automatically transfer money. So he gets his

553
00:27:13,080 --> 00:27:16,400
Speaker 5: spending money portion sent off to his bank account, mine

554
00:27:16,400 --> 00:27:18,840
Speaker 5: gets sent off to mine, and then each of our

555
00:27:18,880 --> 00:27:22,520
Speaker 5: savers gets transferred to And we also added in some

556
00:27:22,560 --> 00:27:26,800
Speaker 5: additional transfers into that Budget and cash Flow master Class,

557
00:27:26,920 --> 00:27:29,639
Speaker 5: things like we have a savings account set up for

558
00:27:29,720 --> 00:27:32,320
Speaker 5: my stepdaughter so when she turns sixteen, she'll have ten

559
00:27:32,320 --> 00:27:33,119
Speaker 5: thousand dollars.

560
00:27:33,440 --> 00:27:36,360
Speaker 1: Oh my gosh. Yeah, she's set up for life.

561
00:27:36,560 --> 00:27:41,600
Speaker 5: Yeah, well the goal is she her current goal in life?

562
00:27:41,760 --> 00:27:44,439
Speaker 5: Keep in mind she's seven and yeah that's okay. We

563
00:27:44,480 --> 00:27:47,280
Speaker 5: love an aspirational queen. She wants to be a marine

564
00:27:47,320 --> 00:27:49,040
Speaker 5: biologist and move to the beach.

565
00:27:49,160 --> 00:27:49,960
Speaker 1: Oh my gosh.

566
00:27:50,160 --> 00:27:52,720
Speaker 5: Yeah, so we're like ten thousand dollars. She can pack up,

567
00:27:52,760 --> 00:27:53,960
Speaker 5: she can move to UNI.

568
00:27:54,119 --> 00:27:56,359
Speaker 1: She's got way more aspiration than me.

569
00:27:56,440 --> 00:27:58,560
Speaker 4: When I was seven years old, I'm pretty sure I

570
00:27:58,600 --> 00:28:00,320
Speaker 4: would have been in like grade one or two and

571
00:28:00,359 --> 00:28:01,919
Speaker 4: they did a career's day and they said what do

572
00:28:01,920 --> 00:28:03,159
Speaker 4: you want to be? And I said I wanted to

573
00:28:03,200 --> 00:28:05,280
Speaker 4: be a cleaner because my mum says she likes it

574
00:28:05,320 --> 00:28:07,399
Speaker 4: when I help her around the house. And I mean,

575
00:28:07,400 --> 00:28:11,040
Speaker 4: there's absolutely nothing wrong with becoming a cleaner, But you know,

576
00:28:11,119 --> 00:28:11,520
Speaker 4: I feel like.

577
00:28:11,520 --> 00:28:13,840
Speaker 1: I've done a few more things, you know. Yeah.

578
00:28:13,880 --> 00:28:16,399
Speaker 5: Well look when I was her age, my goal was

579
00:28:16,440 --> 00:28:19,199
Speaker 5: to operate you know what McDonald's, the soft serve machine.

580
00:28:19,280 --> 00:28:21,040
Speaker 1: Oh yeah, that would be a really good job.

581
00:28:21,080 --> 00:28:23,520
Speaker 5: That was my dream. My dream was to operate a

582
00:28:23,560 --> 00:28:24,560
Speaker 5: soft serve machine.

583
00:28:24,640 --> 00:28:25,119
Speaker 1: I love that.

584
00:28:25,280 --> 00:28:28,080
Speaker 5: And I became a lawyer, Like, ugh, that's disgusting.

585
00:28:28,280 --> 00:28:28,720
Speaker 1: I did too.

586
00:28:29,240 --> 00:28:32,000
Speaker 4: Maybe this is why I'm always talking about bleach in

587
00:28:32,040 --> 00:28:35,120
Speaker 4: my house. I'm organizing my pantry. I have the most

588
00:28:35,240 --> 00:28:37,680
Speaker 4: organized fridge you've ever seen in your life. Maybe I've

589
00:28:37,680 --> 00:28:38,719
Speaker 4: missed my true calling.

590
00:28:39,000 --> 00:28:41,920
Speaker 5: Yeah, you should be one of those home edit girls.

591
00:28:42,320 --> 00:28:45,160
Speaker 4: Absolutely not, because I wouldn't want to show you all

592
00:28:45,160 --> 00:28:47,680
Speaker 4: the stuff I hide so that my fridge can look good.

593
00:28:48,000 --> 00:28:50,120
Speaker 5: Oh yeah, yeah, that's very relatable.

594
00:28:50,240 --> 00:28:53,120
Speaker 4: Yeah all right, let's flip the narrative again.

595
00:28:53,640 --> 00:28:55,480
Speaker 1: I wann't know. What do you think is your worst

596
00:28:55,640 --> 00:28:56,280
Speaker 1: money habit?

597
00:28:56,600 --> 00:29:01,880
Speaker 5: Okay, my worst money habit is definitely dopamine seeking through spending.

598
00:29:02,280 --> 00:29:04,720
Speaker 1: Amazing. We are two peas in a pod, my friend.

599
00:29:04,960 --> 00:29:08,680
Speaker 5: Yeah, I'm in the process of getting a formal ADHD

600
00:29:08,800 --> 00:29:15,640
Speaker 5: diagnosis and learning about how my little treat spending affects

601
00:29:15,640 --> 00:29:19,760
Speaker 5: my money is bonkers. It's so intriesing, it's amazing.

602
00:29:19,880 --> 00:29:22,760
Speaker 4: Yeah, it's really rude too, Like when they start telling

603
00:29:22,760 --> 00:29:24,600
Speaker 4: you things about yourself and you're like, I've never had

604
00:29:24,600 --> 00:29:26,480
Speaker 4: an original experience in my life.

605
00:29:26,600 --> 00:29:29,280
Speaker 1: I know what you mean. This is normal. I thought

606
00:29:29,320 --> 00:29:30,760
Speaker 1: that this was my personality.

607
00:29:31,560 --> 00:29:31,880
Speaker 3: I know.

608
00:29:32,360 --> 00:29:34,960
Speaker 5: It's the single worst thing about TikTok I think is

609
00:29:34,960 --> 00:29:37,880
Speaker 5: that I've realized. Agree, every experience I've had is had

610
00:29:37,880 --> 00:29:39,240
Speaker 5: by someone else, and that sucks.

611
00:29:39,560 --> 00:29:42,720
Speaker 4: Yeah what I thought I was original, But I'm living

612
00:29:42,720 --> 00:29:45,680
Speaker 4: in this world of clones. We all seek dopamine by

613
00:29:45,720 --> 00:29:48,440
Speaker 4: spending our money and then wonder why it's not working

614
00:29:48,480 --> 00:29:49,200
Speaker 4: and try again.

615
00:29:49,920 --> 00:29:53,200
Speaker 5: I know, I know, but yeah, that's really bad for me.

616
00:29:53,440 --> 00:29:58,240
Speaker 5: My worst habit, though, is particularly doper meine seeking through

617
00:29:58,240 --> 00:29:59,080
Speaker 5: buying bubble tea.

618
00:29:59,120 --> 00:30:03,280
Speaker 4: Bubble tea, that's something I can absolutely relate to.

619
00:30:03,360 --> 00:30:05,760
Speaker 5: What's your order, Well, it depends on the day. I've

620
00:30:05,800 --> 00:30:10,520
Speaker 5: got two, so option one is peach green tea with

621
00:30:10,720 --> 00:30:14,440
Speaker 5: mango popping pearls okay, I hear you, yep? Or a

622
00:30:14,560 --> 00:30:15,440
Speaker 5: taro milk tea.

623
00:30:15,680 --> 00:30:19,480
Speaker 1: Oh no, you can't have the milk tea. No, okay no.

624
00:30:19,600 --> 00:30:22,800
Speaker 4: My go to order is a passion fruit green tea

625
00:30:22,840 --> 00:30:26,440
Speaker 4: with half sugar. Obviously you're gonna have the normal pearls,

626
00:30:26,440 --> 00:30:28,920
Speaker 4: but you're also gonna add lie chia jelly and fresh

627
00:30:28,960 --> 00:30:29,600
Speaker 4: passion fruit.

628
00:30:29,920 --> 00:30:32,840
Speaker 1: Oh yeah, that's the elite order.

629
00:30:32,880 --> 00:30:34,640
Speaker 4: And then you do half ice because they want more

630
00:30:34,680 --> 00:30:36,960
Speaker 4: tea than ice because it's already cold, So like, don't

631
00:30:37,000 --> 00:30:37,840
Speaker 4: mess me over.

632
00:30:37,880 --> 00:30:39,720
Speaker 5: Gotta do the half eyes It's like when you go

633
00:30:39,800 --> 00:30:41,800
Speaker 5: to macas and you get your drink and they fill

634
00:30:41,800 --> 00:30:44,120
Speaker 5: it up with all ice and you get this much sucks.

635
00:30:44,320 --> 00:30:47,160
Speaker 4: Yeah exactly, and I already ordered a diet coke, Like,

636
00:30:47,400 --> 00:30:50,160
Speaker 4: let me have the full cup. You know this isn't

637
00:30:50,240 --> 00:30:53,720
Speaker 4: hurting anybody except my body, Like, stop it.

638
00:30:55,920 --> 00:30:56,520
Speaker 5: I love it.

639
00:30:56,680 --> 00:30:59,760
Speaker 4: Money, Dirice, we have nearly reached the end of the episode.

640
00:31:00,720 --> 00:31:02,280
Speaker 4: At the start of the episode, you told me that

641
00:31:02,320 --> 00:31:04,440
Speaker 4: you were a B minus, and then we had all

642
00:31:04,480 --> 00:31:06,800
Speaker 4: of these great conversations. You told me a whole heap

643
00:31:06,800 --> 00:31:09,440
Speaker 4: about your automated cash flow system, how you're actually a

644
00:31:09,440 --> 00:31:12,120
Speaker 4: big dog earning ninety seven thousand dollars a year, that

645
00:31:12,200 --> 00:31:14,640
Speaker 4: you have these big money goals. You're already using your

646
00:31:14,640 --> 00:31:18,440
Speaker 4: first time super savior scheme. You are utilizing this superanuation

647
00:31:18,720 --> 00:31:22,280
Speaker 4: advisors very well. I just do you still feel like

648
00:31:22,320 --> 00:31:24,959
Speaker 4: you're a B minus? And if so, that's okay. But

649
00:31:25,040 --> 00:31:27,000
Speaker 4: what would it take to get to an A plus?

650
00:31:28,160 --> 00:31:34,120
Speaker 5: Maybe we can say I'm a B plus? Okay, all right? Yeah, kiss,

651
00:31:35,320 --> 00:31:37,240
Speaker 5: I think to get me to an A plus, I

652
00:31:37,240 --> 00:31:41,080
Speaker 5: would like to be a bit more effective with managing

653
00:31:41,120 --> 00:31:43,880
Speaker 5: my little treat spending and having my little treat fund,

654
00:31:44,560 --> 00:31:47,280
Speaker 5: you know, budget for it, and then it's fine. And

655
00:31:47,320 --> 00:31:49,400
Speaker 5: I think when I get a little bit closer to

656
00:31:49,480 --> 00:31:52,400
Speaker 5: some of my big goals, I think that would make

657
00:31:52,440 --> 00:31:53,040
Speaker 5: me feel good.

658
00:31:53,320 --> 00:31:54,480
Speaker 1: Oh how exciting.

659
00:31:55,000 --> 00:31:58,760
Speaker 4: Unfortunately, that is all we have time for today. Money Dorist,

660
00:31:58,920 --> 00:32:01,360
Speaker 4: thank you so much for being so raw and so

661
00:32:01,480 --> 00:32:04,560
Speaker 4: real and so funny and just sharing so much with

662
00:32:04,600 --> 00:32:06,640
Speaker 4: me today. In this short period of time that we

663
00:32:06,680 --> 00:32:09,080
Speaker 4: have had, I have absolutely loved it and it has

664
00:32:09,120 --> 00:32:10,479
Speaker 4: been an absolute pleasure.

665
00:32:10,760 --> 00:32:11,280
Speaker 1: Fabulous.

666
00:32:11,280 --> 00:32:13,320
Speaker 5: Thank you so much, no, thank you.

667
00:32:20,120 --> 00:32:22,640
Speaker 4: The advice shared on She's on the Money is general

668
00:32:22,720 --> 00:32:26,600
Speaker 4: in nature and does not consider your individual circumstances. She's

669
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Speaker 4: on the Money exists purely for educational purposes and should

670
00:32:30,120 --> 00:32:33,280
Speaker 4: not be relied upon to make an investment or financial decision.

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00:32:33,680 --> 00:32:36,280
Speaker 1: If you do choose to buy a financial product, read.

672
00:32:36,160 --> 00:32:40,280
Speaker 3: The PDS TMD and obtain appropriate financial advice tailored towards

673
00:32:40,320 --> 00:32:43,600
Speaker 3: your needs. Victoria Divine and She's on the Money are

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00:32:43,640 --> 00:32:48,680
Speaker 3: authorized representatives of Money sheper pty Ltd ABN three two

675
00:32:48,720 --> 00:32:51,720
Speaker 3: one IS six four nine two seven seven zero eight

676
00:32:52,000 --> 00:32:56,680
Speaker 3: AFSL four five one two eight nine.

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Speaker 1: The bea