Speaker 1: Hello.
Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud Yr the
Speaker 2: Order Kerney Whoalbury and a waddery woman. And before we
Speaker 2: get started on She's on the Money podcast, I would
Speaker 2: like to acknowledge the traditional custodians of the land of
Speaker 2: which this podcast is recorded on a wondery country, acknowledging
Speaker 2: the elders, the ancestors and the next generation coming through.
Speaker 2: As this podcast is about connecting, empowering, knowledge sharing and
Speaker 2: the storytelling of you to make a difference for today
Speaker 2: and lasting impact for tomorrow.
Speaker 1: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 4: Hello, and welcome to She's on the Money, the podcast
Speaker 4: for millennials who want financial freedom.
Speaker 1: Welcome back to another one of our Money.
Speaker 4: Diary episodes where I get the absolute privilege of sitting
Speaker 4: down with one of our Shees on the Money community
Speaker 4: members and talking all about their money story. Let's jump
Speaker 4: straight into it, because this week I got an email
Speaker 4: and it went like this.
Speaker 1: Hi V.
Speaker 4: I'm a twenty nine year old law student and full
Speaker 4: time employee in litigation. I'm also a part time bonus
Speaker 4: mum dealing with infertility and juggling finances while doing all
Speaker 4: of that. My partner and I spent ten thousand dollars
Speaker 4: for three rounds of IVF, and I really want to
Speaker 4: share my experience of the impact that these procedures have
Speaker 4: on your finances and on your relationships. Money Darist, welcome
Speaker 4: to the show.
Speaker 5: Hello, thank you for having me.
Speaker 4: No, thank you for wanting to share your story with me.
Speaker 4: I'm very excited and very grateful. Do you want to
Speaker 4: dive straight in?
Speaker 5: Yeah, let's go for it, all right.
Speaker 4: First question, as always, is if I asked you to
Speaker 4: give your money habits a grade from A through to F,
Speaker 4: what would you grade your money habits?
Speaker 5: So I gave this a lot of thought, and I
Speaker 5: think I've settled on a B minus.
Speaker 1: A B minus. All right, let's get into it.
Speaker 4: My favorite question, which comes as no surprise to anyone,
Speaker 4: is money. Durist, can you tell me a little bit
Speaker 4: more about your money story.
Speaker 1: Yeah.
Speaker 5: So, I grew up in a family where money was
Speaker 5: never really something that was discussed, but it was also
Speaker 5: never really something that was an issue. We were very
Speaker 5: much thoroughly middle class, which I think really impacted me
Speaker 5: when I finally moved out of home and went to
Speaker 5: UNI because I remember very clearly the first time I
Speaker 5: had twenty dollars in my bank account and I went,
Speaker 5: what am I going to do? What am I going
Speaker 5: to do for food? And I ended up working two
Speaker 5: jobs at a time and pulling it together. But that
Speaker 5: was a really big turning point for me was learning
Speaker 5: how to actually do a budget for the first time,
Speaker 5: because I never had to budget before.
Speaker 1: No, totally.
Speaker 4: And money's hard and you don't realize it's hard until
Speaker 4: you're on your own with it, Yes.
Speaker 5: Exactly, because before I could always rely on my parents
Speaker 5: to bail me out when I spent my you know,
Speaker 5: fifty dollars pay check from working at the Chicken Shop
Speaker 5: on lip gloss. You know.
Speaker 1: Oh, I love that. That's so relatable.
Speaker 4: I liked with the ice cream shop which was just
Speaker 4: down from the Chicken Shop, and I was going to
Speaker 4: Priceline and buying all my lip glosses when I had
Speaker 4: free time.
Speaker 1: Yeah, one hundred percent.
Speaker 4: Lipschmackers had them all, like the glossy ones. Though, because
Speaker 4: obviously I'm not a child, I didn't just have the
Speaker 4: barm Ones.
Speaker 5: No, No, the barm Ones with the little crystal lids.
Speaker 4: Oh yeah, those were bougie, but the glitter in them
Speaker 4: was too gritty.
Speaker 5: Yes, yes, yeah, exactly, same page, same That's why.
Speaker 1: It doesn't exist anymore.
Speaker 4: It's got nothing to do with the fact that times
Speaker 4: have changed, and everything to do with that was a
Speaker 4: flaw in their product.
Speaker 5: Yeah, but they could have marketed it as an exfoliant
Speaker 5: and then consult.
Speaker 4: I had a blue one, so I'm glad they were
Speaker 4: on the same page very much. So you became an
Speaker 4: adult and you had your first twenty dollars?
Speaker 1: What then happened? You went to UNI? Take us all
Speaker 1: the way through to the age of twenty nine.
Speaker 5: Okay, So I went to UNI originally when I was
Speaker 5: seventeen years old and I didn't really know what I
Speaker 5: wanted to do. I said, what makes me sound smart
Speaker 5: and employable? And I decided to do journalism. Then my
Speaker 5: first day of my journalism cause, the lecturer stood up
Speaker 5: and said, journalism is a dying profession. You have two
Speaker 5: weeks till the census date. I suggest you consider doing
Speaker 5: something else.
Speaker 4: Ah cool, I guess I see myself out, sir nice.
Speaker 1: And so were you like me?
Speaker 4: And you well like see you in hell and kept
Speaker 4: doing it? Or did you change I did.
Speaker 1: For a little bit.
Speaker 5: I did, and then I promptly fell into a pretty
Speaker 5: bad loop of anxiety and depression and that was the
Speaker 5: end for me. I was like, you know what, we're done.
Speaker 5: We're going to take a break, We're going to focus
Speaker 5: on ourselves. And I ended up working a few different jobs,
Speaker 5: working in retail, and then I eventually moved into the
Speaker 5: public service, where I started my career as a criminal investigator.
Speaker 4: Oh wow, yeah, a bit of a like left term.
Speaker 4: I just started my career there. That's all good, first normal.
Speaker 1: But it was through.
Speaker 5: That role, where I started doing investigations and working more
Speaker 5: in regulation, that I discovered my passion for law. So
Speaker 5: I left the public service and I'm now in a
Speaker 5: litigation team and a private law firm.
Speaker 1: Oh that sounds so fancy, and you're still just in
Speaker 1: your twenties.
Speaker 5: Yeah, well, yes, I'm still in the process of getting
Speaker 5: my law degree. But you know, we'll get their direction
Speaker 5: is more important than speed.
Speaker 4: I love that. That is very, very true. So tell
Speaker 4: me a bit more about your personal life. So obviously
Speaker 4: you've got bougie job, You've had some very fancy experiences.
Speaker 4: But when you wrote in you said, I'm also a
Speaker 4: part time bonus mom. Yes, about that, and then I
Speaker 4: want to talk about infertility because we don't talk about
Speaker 4: that enough.
Speaker 5: Yes, one hundred. My stepdaughter is pretty much the coolest
Speaker 5: person in the world. I know it's kind of lame
Speaker 5: to talk about it like that, but she's so confident
Speaker 5: and funny and bubbly, and she she just does not
Speaker 5: let anything hold her back and it's just really cool.
Speaker 5: I don't know, she's such a cool I love that, man,
Speaker 5: I love that so much.
Speaker 1: Yeah.
Speaker 4: I feel like all step daughters deserve their future step
Speaker 4: moms or current step moms to have that same amount
Speaker 4: of energy for them.
Speaker 1: Yeah.
Speaker 5: Well, I met her dad through work when we were
Speaker 5: working together as investigators. It was very like office romance.
Speaker 5: It was god chairs. And then when I decided, you know,
Speaker 5: I was like, Ah, this man's gonna be my husband
Speaker 5: and I'm gonna, you know, do the step mom thing.
Speaker 5: I kind of really sat down with that and was like, well,
Speaker 5: I'm gonna take it really seriously because she deserves, like
Speaker 5: she didn't choose this circumstance, and she deserves one hundred
Speaker 5: percent of my effort. If I'm gonna do it, I'm
Speaker 5: gonna do it. Right, So I kind of just jumped
Speaker 5: in feet first and it worked out really well somehow.
Speaker 1: Clearly I love that.
Speaker 4: And then you and your husband, you've been trying to
Speaker 4: become second time parents.
Speaker 5: Yes, so I have a fertility issue, which is called
Speaker 5: primary ovarian failure or primary ovarian insufficiency. So essentially what
Speaker 5: that means is I'm perimenopausal at twenty nine.
Speaker 1: So that's so hard.
Speaker 5: Yeah, it's kind of a big thing to come to
Speaker 5: terms with. We started going through the IVF and the
Speaker 5: IUI procedures and getting all of those ducks in a row,
Speaker 5: because even getting to the point of the actual fertility
Speaker 5: procedure is so long, Like you have to do so
Speaker 5: many tests and there's so many hurdles. And we actually
Speaker 5: felt pregnant in November last year, but we miscarried at
Speaker 5: the start of the year in about January.
Speaker 1: I did too. That's exactly my timeline.
Speaker 5: I'm sorry. It sucks.
Speaker 4: Yeah, I know that is so bad. I'm so sorry
Speaker 4: that you went through that. It's the shittiest club to
Speaker 4: be involved in ever.
Speaker 5: Yeah, I know. But I will say, actually, like, and
Speaker 5: I hope this isn't like two kind of like, but
Speaker 5: when I saw you posting about your experiences at the
Speaker 5: same time I was going through it. It was kind
Speaker 5: of really nice.
Speaker 1: Oh I'm so glad because that's why I did it.
Speaker 4: I feel like there were lots of people and you
Speaker 4: know what, miscarriages sutn't underspoken about topic. And the more
Speaker 4: I spoke about it, the more I realize. I know,
Speaker 4: it's one in four, but when you start talking about it,
Speaker 4: you just feel like it's like everyone's doing it.
Speaker 5: Everyone's got a story.
Speaker 4: I swear every single person that I spoke to would
Speaker 4: be like, oh yeah, me too, or oh my sister,
Speaker 4: oh my thing, like everyone had a story. And I
Speaker 4: was like, well, why didn't I know this before I
Speaker 4: was going through this? And this felt so lonely. Why
Speaker 4: didn't I know this going in? Because I just thought
Speaker 4: it was locked and loaded the second I got a
Speaker 4: positive pregnancy test, right, I just thought that that's how
Speaker 4: it worked, right, Like I'm healthy, I'm okay, I'm not
Speaker 4: in a circumstance like you. I just thought it was
Speaker 4: going to be perfect, and unfortunately that's not the circumstance,
Speaker 4: and like that's okay. But I think talking about it
Speaker 4: makes it so much easier because if I share my
Speaker 4: load and you share it with yours. I know that
Speaker 4: I'm not alone, and I know that I'm not the
Speaker 4: only one to go through this, And you know, it's
Speaker 4: not a reflection of me being a terrible mum.
Speaker 1: It's actually got nothing to do with that.
Speaker 4: And I think a lot of the time we blame
Speaker 4: ourselves for not doing something, or doing something wrong, or
Speaker 4: messing it up somehow, and that's not the case at all,
Speaker 4: Absolutely not the case.
Speaker 5: No, but sometimes you need someone externally to give you
Speaker 5: that reminder.
Speaker 1: One hundred percent.
Speaker 4: So you went through three rounds of IVF how to miscarriage, Yes,
Speaker 4: that's bullshit.
Speaker 1: What happened next?
Speaker 5: So essentially we're at the point now where we need
Speaker 5: to look at using donor conception and using donor eggs.
Speaker 5: So we did the three rounds of IVF. We spent
Speaker 5: about ten thousand dollars getting that all together, and that's
Speaker 5: including things like interstate travel, hotels, accommodation. Because and this
Speaker 5: is something I did not know until I started getting
Speaker 5: into this, is that where I am in the act,
Speaker 5: there's no bulk build IVF clinics.
Speaker 1: What really, Yes, So if you're.
Speaker 5: In the act, you have to travel to Sydney to
Speaker 5: be able to access bulk build IVF. So a bulk
Speaker 5: build IVF round is about three thousand dollars a cycle,
Speaker 5: where a private clinic IVF round is about ten thousand
Speaker 5: dollars a cycle.
Speaker 4: That's an insane amount of differences. And obviously that's the
Speaker 4: difference between you being able to do one round and
Speaker 4: three and three is what led to your pregnancy, right and.
Speaker 5: Yeah, oh my gosh, it's crazy. But yeah, so the
Speaker 5: next step for us is looking at donor conception. So
Speaker 5: we're very lucky that the clinic that we are going
Speaker 5: through in Sydney they've actually just recently introduced known donor
Speaker 5: conception services in their bulk build rounds. Yeah, so we
Speaker 5: got very lucky with timing because it's really again just
Speaker 5: the price difference, like to be able to do a
Speaker 5: bulk build round with the in a program coordination fees,
Speaker 5: the costs associated with IVF cycles in general. Keep in
Speaker 5: mind you're basically doing it with two people, so I
Speaker 5: would be having IVF medication, my donor would be having
Speaker 5: IVF medication. All of that. It's about maybe five thousand
Speaker 5: dollars a cycle.
Speaker 4: I mean, that's not as bad as it could be,
Speaker 4: but I mean the idea that it could be more
Speaker 4: fruitful as well gives me a lot of hope.
Speaker 5: Yes, yes, and again the private clinic is about fifteen
Speaker 5: thousand dollars a cycle.
Speaker 1: Oh my gosh.
Speaker 4: So how did you learn so much about the difference
Speaker 4: between public and private? Because I feel like fertility and
Speaker 4: going through this is so convoluted. I know a lot
Speaker 4: about it here in Melbourne because I've been going through
Speaker 4: the processes myself to make sure that I will be
Speaker 4: able to have a healthy pregnancy. But looking at the
Speaker 4: price differences, like I just I'm shocked at the differences
Speaker 4: even between private clinics and what that looks like and
Speaker 4: how that works, and the wait lists in Victoria for
Speaker 4: the public system to me are insane. So how did
Speaker 4: you navigate this when going head in?
Speaker 5: I am very fortunate that I had someone very close
Speaker 5: to me who had gone through. My cousin had gone
Speaker 5: through six rounds of IVF to have her little girl.
Speaker 1: Oh my gosh.
Speaker 5: Yeah, so she was a really really good resource to
Speaker 5: me personally. If anyone is looking at IVF as well.
Speaker 5: There was a reality show recently, was there. It's called
Speaker 5: Big Miracles.
Speaker 4: Oh, I saw that, and then I blocked it out
Speaker 4: completely because I didn't want anything baby related in my life. Yeah,
Speaker 4: so it turned off the TV. But I'm glad it
Speaker 4: was good.
Speaker 5: Yes. No, I did the exact same thing because it
Speaker 5: aired when it was still a little bit too close
Speaker 5: to home for me after my fast courage.
Speaker 4: And I went, no, thanks, thanks, bye, I don't care
Speaker 4: about your big miracle.
Speaker 5: Yeah, enjoy your baby. Ah. But I end up going
Speaker 5: back and rewatching it recently.
Speaker 1: Oh, I'm glad. It's really really.
Speaker 5: Helpful resource as well. So that's a really good place.
Speaker 5: But I think a lot of it just comes down
Speaker 5: to independent research because, as you said, even between the
Speaker 5: private clinics like Jeneia just costs so much. Their price
Speaker 5: is so different to IVF Australia or you know, it's
Speaker 5: really just about digging in and taking the free consultations
Speaker 5: and working out what's going to be best for you
Speaker 5: and your individual circumstances.
Speaker 4: It's so time intensive as well. Like doing all of that,
Speaker 4: I just my heart goes out to you because I'm
Speaker 4: just like, oh, this must be such a stressful process
Speaker 4: and it must be really hard, but I want to
Speaker 4: know a bit more about I guess your feelings towards this.
Speaker 4: You seem really positive, Like I talked to so many
Speaker 4: people about topics like this all the time, and it's
Speaker 4: not as upbeat when you have this conversation, Like you
Speaker 4: seem to be a very very similar mindset to me.
Speaker 4: Where like, you know what it was shit, it was awful.
Speaker 4: I hated every second of it. I wouldn't wish it
Speaker 4: on anybody, but also it is what it is, and
Speaker 4: I will move on. Is that where you're at, Like,
Speaker 4: how have you managed this? How have you dealt with
Speaker 4: all of it? Because it is really heavy.
Speaker 5: Yes, first and foremost, I would like to shout out
Speaker 5: my therapist. She's done a lot of the heavy lifting,
Speaker 5: so we really appreciate her. She's done a great work.
Speaker 5: But yeah, I think it was The DNC was probably
Speaker 5: the single worst experience of my entire life. And at
Speaker 5: the end of the day, it sucked and it was
Speaker 5: horrible and it's not something I would ever ever wish
Speaker 5: anyone to experience, but I can't change it. Yeah, and
Speaker 5: you know, the Doner route, it's not anyone's first choice,
Speaker 5: but it's the cards that I've been dealt with my body,
Speaker 5: and there's no point trying to be angry at my
Speaker 5: body because it's done a lot of good things for
Speaker 5: me too, to keep me safe and keep me healthy
Speaker 5: and keep me going. But yeah, I don't know. It's hard.
Speaker 5: It's hard.
Speaker 1: Yeah.
Speaker 4: No, No, I'm really proud of you that I feel
Speaker 4: like you are on the right track doing good things.
Speaker 1: And I can tell you're going to be the best mum.
Speaker 1: Like it's coming. It's coming. That's so exciting.
Speaker 5: Yes, put it into the universe. It'll come true.
Speaker 1: I put everything into the universe, I promise. All right.
Speaker 1: I want to know now.
Speaker 4: I want to need to know a bit more. You
Speaker 4: said that you work in full time litigation. So what
Speaker 4: does that mean? And how much do you earn?
Speaker 1: Yeah?
Speaker 5: So I earn about ninety seven thousand dollars a year. Oh,
Speaker 5: big dog, big dog energy. Will fourth? Please don't put
Speaker 5: that in the podcast.
Speaker 1: Hope it's staying in. It's staying in. I'm keeping it. No,
Speaker 1: I am the producer.
Speaker 5: No cook can get out.
Speaker 1: Nope, nope, I'm keeping it. I loved it.
Speaker 5: Yeah. So, I I am a legal secretary in a
Speaker 5: litigation practice in a private law fair. So that means
Speaker 5: that our primary clients are Commonwealth government agencies, and we
Speaker 5: represent the Commonwealth government agencies in litigation when other parties
Speaker 5: initiate litigation against Yeah, so we represent the government when
Speaker 5: they get suit. Basically yeah, yeah, cool, Yeah.
Speaker 1: How fun? Is that real? Spicy?
Speaker 4: Obviously you're going to have signed an NDA, so you
Speaker 4: can't tell me any spicy stories. But I'm sure you
Speaker 4: can tell me whether it is spicy or not.
Speaker 5: All my the spice levels are through the roof some
Speaker 5: of the goths.
Speaker 1: See, that's why I should have worked in law. I
Speaker 1: should have worked in law for the gossip.
Speaker 5: Honestly, I think that's why I'm becoming a lawyer is
Speaker 5: because the tea is so hot.
Speaker 4: As long as you're not sharing it's exactly, it's good.
Speaker 4: Just keep that to yourself. And then when you're at
Speaker 4: the supermarket and that person walks past, you could be like,
Speaker 4: I know something you don't know.
Speaker 5: Yeah, yeah, ye, yeah, it's great. It's honestly, it's it's
Speaker 5: so good. But yeah, some of the gossip incredible. And
Speaker 5: it's also really helpful as well, because I am in
Speaker 5: the process of getting my law degree, so being able
Speaker 5: to work full time in a private firm in that
Speaker 5: litigation space and.
Speaker 4: Getting that exposure before you actually jump in. That's really cool.
Speaker 5: And all the networking, all the contacts.
Speaker 4: Oh I love that for you. Yeah, all right, I
Speaker 4: want to know next, what is your big money goal?
Speaker 4: What are you currently working towards?
Speaker 5: So currently we have two big money goals. Our first
Speaker 5: is to save a deposit to buy our own house,
Speaker 5: and our second is to save up a bit more
Speaker 5: money so we can commence some further IVF rounds using
Speaker 5: an egg downer.
Speaker 1: Oh how exciting? Do you have timelines on either of
Speaker 1: those goals?
Speaker 5: So we should be able to purchase a house late
Speaker 5: next year, so we're looking about November December next year,
Speaker 5: will be able to buy and then hopefully we'll be
Speaker 5: able to start IVF. You visiting an egg donor.
Speaker 1: Just after that? O exciting?
Speaker 5: Yeah, I have someone who's agreed to be an egg
Speaker 5: donor for me.
Speaker 1: Actually, yeah, that's so special.
Speaker 5: Yeah my cousin.
Speaker 1: Oh no, that's so special because.
Speaker 5: Then we have at least a genetic bond.
Speaker 1: Yeah, no, I love that so much. Yeah, she's been through.
Speaker 5: So much with her IVF journey that she was like,
Speaker 5: let's do it. But she's just given birth, so she
Speaker 5: wants to wait about eighteen months, which is so fair,
Speaker 5: totally fair. So that takes the pressure off a bit.
Speaker 4: Yeah, time to set up, time to plan. Oh my gosh,
Speaker 4: I'm so excited for you. That's such a special connection
Speaker 4: that you guys will have.
Speaker 1: How awesome.
Speaker 4: All Right, I have a million more questions. I'm going
Speaker 4: to go to a really quick break. But on the
Speaker 4: flip side, I want to know about your investments. I
Speaker 4: want to know about your good money habits, your bad
Speaker 4: money habits, and if you have any debts. So guys
Speaker 4: don't go anywhere. All right, money Diarist. We are back,
Speaker 4: and I am loving this chat. I feel like it's
Speaker 4: so open, so honest, so raw, but also like we
Speaker 4: just think we're really funny this whole entire time.
Speaker 1: So solid ten out of ten US. But talk to me.
Speaker 1: Do you have any investments, If so, what are they?
Speaker 5: So I'm in the process of growing my spaceship portfolio.
Speaker 5: So I've got roughly about one thousand dollars in Spaceship
Speaker 5: and I've got ninety six thousand dollars in Super.
Speaker 4: Oh how do you have so much in Super? That's
Speaker 4: a flex at twenty nine?
Speaker 5: Yeah, No, I got really into this money podcast. I
Speaker 5: don't know if you've heard of it. It's called money
Speaker 5: sounds trash. Yeah, And I started doing some salary sacrificing
Speaker 5: into my super account and really bumped it up, so
Speaker 5: I've been able to really contribute into that with the
Speaker 5: view of using some of those additional contributions to help
Speaker 5: fund our house deposit through the first.
Speaker 1: Oh, how good is that? How long have you been
Speaker 1: doing that?
Speaker 5: Probably about a year and a half, almost two years now. Yeah,
Speaker 5: And they've just increased the cap as well, which is
Speaker 5: how they did.
Speaker 4: It's now fifty thousand dollars instead of thirty thousand dollars,
Speaker 4: which goes a lot further, like thirty thousand dollars is
Speaker 4: not enough, and I mean fifty thousand dollars in most
Speaker 4: places is not enough either, But it definitely takes the
Speaker 4: pressure off. And I did all of the maths, and
Speaker 4: you end up on a marginal tax rate of thirty
Speaker 4: two point five cents in every dollar, nearly ten thousand
Speaker 4: dollars better off by using the scheme, which is a
Speaker 4: money win, massive money win, and most people are actually
Speaker 4: on that thirty two point five cents in the dollar.
Speaker 4: If you have a higher marginal tax rate my friend,
Speaker 4: you are actually even better off because the more tax
Speaker 4: you're paying, the more you're saving by using the first
Speaker 4: time super Savior scheme. So money win for everybody. Tell
Speaker 4: me how you started contributing to that for the first
Speaker 4: home super Savior scheme though? Did you contact your super
Speaker 4: fund and explain yourself or did you just start be
Speaker 4: paying it over or like?
Speaker 1: What was the process?
Speaker 2: Yeah?
Speaker 5: So I actually sat down about eighteen months ago and
Speaker 5: reviewed my whole financial situation.
Speaker 1: Very sexy.
Speaker 5: I like that, I know it's very hot. My husband
Speaker 5: and I have monthly financial date nights, turn out a
Speaker 5: ten yeah, a bottle of Aldi wine and a Domino's pizza,
Speaker 5: and our life has never been back.
Speaker 1: Whim money, whim right? Which Audi wine?
Speaker 4: Though?
Speaker 5: The rose obviously?
Speaker 1: The La Mule, Yes, an elite choice see obviously.
Speaker 5: But yes, So I sat down, I reviewed my super
Speaker 5: funds performance. I decided I wasn't happy with the way
Speaker 5: they were performing in the fees I was paying. So
Speaker 5: I kicked them to the curve, called around and spoke
Speaker 5: to my now super fund and said, this is my goal,
Speaker 5: this is where I want to be. I'm looking at
Speaker 5: joining what can you do for me? And they set
Speaker 5: me up with one of their financial planners, and they
Speaker 5: sat down with me and said, if you join our
Speaker 5: super scheme, this is what we can do, this is
Speaker 5: how we can do it.
Speaker 1: And I was like, sure, how cool.
Speaker 5: Yeah, they were really really helpful, and I just be
Speaker 5: pay at the end of each financial year, I do
Speaker 5: a big bulk.
Speaker 4: Can I be real pervy? So you did all your research,
Speaker 4: who did you decide to go with? Not so I
Speaker 4: can share my opinion. I'm just real pervy, you know.
Speaker 4: I just want to know where you picked and why.
Speaker 4: So I ended up going with UNI super and why.
Speaker 5: Previously I was with the Public Sector Superannuation Fund and PSSAP.
Speaker 5: They were good, but their fees were is astronomical compared
Speaker 5: to UNI seeper. UNI seper was performing on average better
Speaker 5: and I know past performers blah blah blah blah blah.
Speaker 5: I know, but they on average performed better over the
Speaker 5: last five ten years and their fees were about half cool.
Speaker 1: So I was like, let's go.
Speaker 5: Why would I not want to pay less to get
Speaker 5: if not but better results.
Speaker 4: So you mentioned before that they set you up with
Speaker 4: a financial advisor, and I know that's a service they
Speaker 4: provide but a lot of people listening and know what
Speaker 4: did you pay for that? Was that a paid service
Speaker 4: when you sat down with your financial advisor from UNI super?
Speaker 5: No? No, it was absolutely free and it's something that
Speaker 5: all super funds, oh maybe not.
Speaker 1: All, most most super funds.
Speaker 5: Yeah, offer and it was really helpful. They also had
Speaker 5: a bunch of really good resources. They do webinars, they
Speaker 5: have ebooks, and you can access a free financial advisor
Speaker 5: through them a couple of times a year.
Speaker 1: Money win, Yeah, money win.
Speaker 5: Who doesn't want to be set up for retirement?
Speaker 4: I mean lots of people because they just want to
Speaker 4: bury their heads in the sand, But not you, by
Speaker 4: the sounds of it.
Speaker 1: Which I think is very very good.
Speaker 5: Thank you.
Speaker 4: So you've got your spaceship and then you've got your
Speaker 4: ninety seven thousand dollars in super it's going to be
Speaker 4: used towards your first home super Savior scheme.
Speaker 1: Let's bring down the mood. Do you have any debt?
Speaker 5: I am con human, debt free, very sexy, Thank you.
Speaker 5: I do have a hex stat which is roughly about
Speaker 5: twenty thousand dollars, and by the time I finish my
Speaker 5: law degree, it's probably gonna be sitting a little bit
Speaker 5: higher up, closer to about the sixty grand mark. That's
Speaker 5: all right, Yeah, look, when I'm earning the big bucks
Speaker 5: as a partner, It'll be worth it.
Speaker 4: It'll be fine, and you're paid off in no time.
Speaker 4: And be honest, a lot of my clients when I
Speaker 4: was a financial advisor used to be lawyers, and because
Speaker 4: they have such high incomes, they smash their hex stets
Speaker 4: off really really quickly, and I used to be very
Speaker 4: envious of that.
Speaker 5: Ah, good to know.
Speaker 1: Yeah, so it is something definitely to look forward to.
Speaker 4: Yes, I want to know now, though, what do you
Speaker 4: think is your best money habit?
Speaker 5: My best money habit is that my cash flow system
Speaker 5: is completely automated, So everything is set up, the money
Speaker 5: hits the bank accounts, it gets transferred where it needs
Speaker 5: to go, and I don't have to check my bank
Speaker 5: account at all. It's all completely automated and ready to go.
Speaker 1: How did you do that? That sounds like some wizard stuff.
Speaker 5: The budget and cash Flow Masterclass. Oh I feel like
Speaker 5: I'm just like spreaking you at the moment, Like I'm.
Speaker 4: Really enjoying this conversation for incredibly selfish reasons.
Speaker 1: I was about to be like how did you automate
Speaker 1: it all?
Speaker 4: Like, I'm genuinely interested, though, can you tell me, like,
Speaker 4: how did you set it up to work for you?
Speaker 4: Because obviously, in my Budget and cash Flow master Class, there's,
Speaker 4: you know, a set standard, but it doesn't tell you
Speaker 4: like which bank to go with because that would be illegal,
Speaker 4: And it doesn't tell you you know, where you should
Speaker 4: actually put your money when it comes to the actual product.
Speaker 1: How did you decide that and make sure it worked
Speaker 1: for you?
Speaker 5: Yeah, So my personal bank account, I am with UP
Speaker 5: because that works for me and I love being able
Speaker 5: to have lots of individual sinking funds and all that
Speaker 5: kind of stuff, whereas my husband is with a different bane.
Speaker 5: So primarily we have a two UP account and our
Speaker 5: paychecks both hit the account and then from there we
Speaker 5: are able to automatically transfer money. So he gets his
Speaker 5: spending money portion sent off to his bank account, mine
Speaker 5: gets sent off to mine, and then each of our
Speaker 5: savers gets transferred to And we also added in some
Speaker 5: additional transfers into that Budget and cash Flow master Class,
Speaker 5: things like we have a savings account set up for
Speaker 5: my stepdaughter, so when she turns sixteen, she'll have ten
Speaker 5: thousand dollars.
Speaker 1: Oh my gosh. Yeah, she's set up for life.
Speaker 5: Yeah, well the goal is she her current goal in life?
Speaker 5: Keep in mind she's seven and yeah, that's okay. We
Speaker 5: love an aspirational queen. She wants to be a marine
Speaker 5: biologist and move to the beach.
Speaker 1: Oh my gosh.
Speaker 5: Yeah, so we're like ten thousand dollars. She can pack up,
Speaker 5: she can move to UNI.
Speaker 1: She's got way more aspiration than me.
Speaker 4: When I was seven years old, I'm pretty sure I
Speaker 4: would have been in like grade one or two and
Speaker 4: they did a career's day and they said what do
Speaker 4: you want to be? And I said I wanted to
Speaker 4: be a cleaner because my mum says she likes it
Speaker 4: when I help her around the house. And I mean,
Speaker 4: there's absolutely nothing wrong with becoming a cleaner, but you know,
Speaker 4: I feel like.
Speaker 1: I've done a few more things, you know.
Speaker 5: Yeah, well look, when I was her age, my goal
Speaker 5: was to operate you know what McDonald's, the soft serve machine.
Speaker 1: Oh yeah, that would be a really good job.
Speaker 5: That was my dream. My dream was to operate a
Speaker 5: soft serve machine.
Speaker 1: I love that.
Speaker 5: And I became a lawyer, Like, ugh, that's disgusting.
Speaker 1: I did too.
Speaker 4: Maybe this is why I'm always talking about bleach in
Speaker 4: my house. I'm organizing my pantry. I have the most
Speaker 4: organized fridge you've ever seen in your life. Maybe I've
Speaker 4: missed my true calling.
Speaker 5: Yeah, you should be one of those home edit girls.
Speaker 4: Absolutely not, because I wouldn't want to show you all
Speaker 4: the stuff I hide so that my fridge can look good.
Speaker 5: Oh yeah, yeah, that's very relatable.
Speaker 1: Yeah, all right, let's flip the narrative again. I wann't know.
Speaker 1: What do you think is your worst money habit?
Speaker 5: Okay, my worst money habit is definitely dopamine seeking through spending.
Speaker 1: Amazing. We are two peas in a pod, my friend.
Speaker 5: Yeah, I'm in the process of getting a formal ADHD
Speaker 5: diagnosis and learning about how my little treat spending affects
Speaker 5: my money is bonkers. It's so intriesing, it's amazing.
Speaker 4: Yeah, it's really rude too, Like when they start telling
Speaker 4: you things about yourself and you're like, I've never had
Speaker 4: an original experience in my life.
Speaker 1: I know what you mean. This is normal. I thought
Speaker 1: that this was my personality.
Speaker 3: I know.
Speaker 5: It's the single worst thing about TikTok I think is
Speaker 5: that I've realized agree, every experience I've had is had
Speaker 5: by someone else, and that sucks.
Speaker 4: Yeah what I thought I was original, but I'm living
Speaker 4: in this world of clones. We all seek dopamine by
Speaker 4: spending our money and then wonder why it's not working
Speaker 4: and try again.
Speaker 5: I know, I know, but yeah, that's really bad for me.
Speaker 5: My worst habit, though, is particularly doper meane seeking through
Speaker 5: buying bubble tea.
Speaker 4: Bubble tea, that's something I can absolutely relate to.
Speaker 5: What's your order, Well, it depends on the day. I've
Speaker 5: got two, so option one is peach green tea with
Speaker 5: mango popping pearls okay, I hear you, yep, or a
Speaker 5: taro milk tea.
Speaker 1: Oh no, you can't have the milk tea.
Speaker 5: No, okay no.
Speaker 4: My go to order is a passion fruit green tea
Speaker 4: with half sugar. Obviously you're gonna have the normal pearls,
Speaker 4: but you're also gonna add lie chia jelly and fresh
Speaker 4: passion fruit. Oh yeah, that's the elite order. And then
Speaker 4: you do half ice because they want more tea than
Speaker 4: ice because it's already cold, So like, don't mess me over.
Speaker 5: Gotta do the half eyes. It's like when you go
Speaker 5: to macas and you get your drink and they fill
Speaker 5: it up with all ice, and you get this much sucks.
Speaker 4: Yeah, exactly, And I already ordered a diet coke, Like,
Speaker 4: let me have the full cup. You know this isn't
Speaker 4: hurting anybody except my body, Like, stop it.
Speaker 5: I love it.
Speaker 4: Money, Dirice, we have nearly reached the end of the episode.
Speaker 4: At the start of the episode, you told me that
Speaker 4: you were a B minus, and then we had all
Speaker 4: of these great conversations. You told me a whole heap
Speaker 4: about your automated cash flow system, how you're actually a
Speaker 4: big dog earning ninety seven thousand dollars a year, that
Speaker 4: you have these big money goals. You're already using your
Speaker 4: first time super savior scheme. You are utilizing this superanuation
Speaker 4: advisors very well. I just do you still feel like
Speaker 4: you're a B minus? And if so, that's okay. But
Speaker 4: what would it take to get to an A plus?
Speaker 5: Maybe we can say I'm a B plus? Okay, all right, yeah, kiss,
Speaker 5: I think to get me to an A plus, I
Speaker 5: would like to be a bit more effective with managing
Speaker 5: my little treat spending and having my little treat fund.
Speaker 5: You know budget for it, and then it's fine. And
Speaker 5: I think when I get a little bit closer to
Speaker 5: some of my big goals, I think that would make
Speaker 5: me feel good.
Speaker 1: Oh how exciting.
Speaker 4: Unfortunately, that is all we have time for today. Money Dorist,
Speaker 4: thank you so much for being so raw and so
Speaker 4: real and so funny and just sharing so much with
Speaker 4: me today. In this short period of time that we
Speaker 4: have had, I have absolutely loved it and it has
Speaker 4: been an absolute pleasure, fabulous.
Speaker 5: Thank you so much, No, thank you.
Speaker 4: The advice shared on She's on the Money is general
Speaker 4: in nature and does not consider your individual circumstances. She's
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Speaker 4: not be relied upon to make an investment or financial decision.
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