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

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

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

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

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

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Speaker 1: acknowledging the elders, the ancestors and the next.

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Speaker 2: Generation coming through.

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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and

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

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Speaker 1: and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: for millennials who want financial freedom. Welcome back to another

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Speaker 2: one of our money daries, where I have the absolute

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Speaker 2: privilege of sitting down with one of our incredible She's

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Speaker 2: on the Money community members and talking all about their

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Speaker 2: money story. Let's jump straight into it, because this week

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Speaker 2: I got a message and it sounded like this. Hi, Victoria.

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Speaker 2: I recently quit a toxic, yet well paying one hundred

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Speaker 2: and twenty five thousand dollars plus tech job to run

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Speaker 2: my small business full time at twenty four years old.

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Speaker 2: Working with my dad. As an immigrant, I always felt

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Speaker 2: family and societal pressure to achieve, and I'm still struggling

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Speaker 2: with comparing myself to my peers with a more traditional

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Speaker 2: career path, and I'm second guessing if I made the

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Speaker 2: right decision. I want to share my story of consolidating

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Speaker 2: pressure and finding my truth with the community. Money Darist,

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Speaker 2: Welcome to the show. What a good story to share.

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Speaker 4: Thank you. Yeah, that was an excellent summary.

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Speaker 2: I am so excited. I feel like this will be

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Speaker 2: a really, really good story to share because background, my

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Speaker 2: producer has told me that you moved here at five

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Speaker 2: from China and you didn't know any English, and now

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Speaker 2: you're running a business here like look at her glow up.

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Speaker 2: I love this, but let's get into it, money Darius,

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Speaker 2: The first question we always ask is if I asked

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Speaker 2: you to give your money habits a grade from A

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Speaker 2: through to F, what would you grade them?

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Speaker 4: I think I'd give myself a B a B, which is,

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Speaker 4: you know, like, I think it's good, but it could

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Speaker 4: be better.

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Speaker 2: Love all right. My favorite question comes as no surprise

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Speaker 2: to anybody. Can you tell me a little bit more

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Speaker 2: about your history and your money story.

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Speaker 4: Yeah, sure, I think, Yeah, you mentioned like I am

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Speaker 4: a first gen immigrant, so I think my story in

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Speaker 4: some parts might be quite like typical of like a

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Speaker 4: lot of immigrants. But I guess the gist of it is,

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Speaker 4: grew up with not much money at all, moved here

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Speaker 4: when I was five from China with mom and dad,

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Speaker 4: and and yeah, I had no English ability at all.

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Speaker 4: And yeah, without like the help of some really nice

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Speaker 4: like ESL teachers back then, I felt like I would

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Speaker 4: have just been, yeah, just way out of my depth.

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Speaker 4: I think it's easier to stomach as a child, really young,

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Speaker 4: moving overseas, because you know, you're sort of like a

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Speaker 4: sponge and you soak everything up. So within a couple

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Speaker 4: of years I was sort of like any other kid

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Speaker 4: on the playground. But definitely those first years were really tough,

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Speaker 4: especially I think for my parents. They were both like

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Speaker 4: uni educated, but when they came back here to Australia.

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Speaker 4: So when they came to Australia, they basically had to

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Speaker 4: start from scratch. They were like working in factories and

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Speaker 4: doing like delivery driver jobs and yeah, just trying to

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Speaker 4: you know, earn an income to support the three of us.

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Speaker 4: I remember when we first moved here, like we were

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Speaker 4: living in like a tiny flat. I think I remember

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Speaker 4: literally sleeping on a mattress on the floor. It was

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Speaker 4: really like bare boons at that time. But I think

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Speaker 4: also like benefit of being a small kid, you don't

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Speaker 4: like that sort of stuff. You sort of you know,

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Speaker 4: don't really remember it.

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Speaker 2: You don't care. It's novel, it's new, Like it doesn't

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Speaker 2: matter that the mattresses on the floor. I had a

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Speaker 2: good sleep, right exactly.

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Speaker 4: Yeah, And like you know, I'm with mum and dad

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Speaker 4: and that's sort of all that matters. I remember, like,

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Speaker 4: despite being in like a not so great area of town,

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Speaker 4: like we had really lovely neighbors and most of them

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Speaker 4: were immigrants as well, and they would like leave me

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Speaker 4: secondhand toys and books outside the door.

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Speaker 2: That's so sweet. It it'd be like coming home to

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Speaker 2: a surprise. Yeah.

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Speaker 4: Yeah, And that was like my first impression as a

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Speaker 4: kid was that this.

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Speaker 2: Place is great.

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Speaker 4: Yeah, this place is great. He would just give me

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Speaker 4: free stuff now hundred percent.

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Speaker 2: Like if I was five and people were leaving toys

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Speaker 2: on my Doorsteff, I'd be like, this place is lit.

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Speaker 4: I think they just felt really sorry for us. But yeah,

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Speaker 4: my first impression was, yeah, like, you know, despite people

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Speaker 4: here probably not all having that much, like, they were

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Speaker 4: all still willing to sort of band together as a community,

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Speaker 4: and I guess make you know, the newcomers' lives a

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Speaker 4: bit easier, which I just found really heartwarming looking back

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Speaker 4: on it.

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Speaker 2: That's so kind though. That's the kind of I guess

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Speaker 2: community and hospitality that you deserve if you're new to

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Speaker 2: a country, like I feel like everyone should experience that.

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Speaker 4: Yeah, exactly, Well, sorry, I guess back to the story,

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Speaker 4: Like my parents, they did work really hard, and I

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Speaker 4: think their hard work really did pay off because they

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Speaker 4: started a business in importing and wholesaling, and bit by

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Speaker 4: bit it started to I guess, grow bigger and able

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Speaker 4: to sustain our family. But it wasn't until I was

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Speaker 4: sort of well into my late teens that my family's

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Speaker 4: financial situation improved, and then we were sort of sending

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Speaker 4: my siblings to private schools, family holidays every year sort

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Speaker 4: of thing. But growing up, I did not have any

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Speaker 4: of these privileges. I like to tell my siblings, I

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Speaker 4: walked so they could run.

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Speaker 2: Yes, you did, That's exactly what happened.

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Speaker 4: Yeah, jokes, but not really.

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Speaker 2: You're like sorry, not sorry. Also, I'm joking, not joking.

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Speaker 2: So you moved here when you were five, and you

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Speaker 2: didn't have any siblings at that point because you said

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Speaker 2: it was just the three of us. How old are

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Speaker 2: your siblings in comparison to you?

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Speaker 4: So I have three siblings.

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Speaker 2: Oh wow, I did not see that coming.

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Speaker 4: So quite a large family, I think by today's standards.

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Speaker 4: I've got my two sisters are four years younger, once

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Speaker 4: eight years younger, and my little brother's actually twelve years younger.

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Speaker 4: Oh how exciting, big age gap. And it's funny because

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Speaker 4: I think for the past like ten years, we've always

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Speaker 4: had like at least one child in a family in

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Speaker 4: a different stage of like schooling.

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Speaker 2: So yeah, yeah, that's the like that's when people say,

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Speaker 2: oh my gosh, I can't wait to get out of

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Speaker 2: nappy's stage, Like your parents really did say we enjoy that,

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Speaker 2: and then just kept putting themselves back in there, like

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Speaker 2: they didn't even you know, try and knock a couple

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Speaker 2: together so that you could just do the nappy stage together.

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Speaker 2: They were like, let's just go back to the start,

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Speaker 2: start from scratch, like we want this to be as

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Speaker 2: hard as possible for us.

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Speaker 4: Exactly every four years, it's like start over again.

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Speaker 2: Why don't we just do this again? I love that

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Speaker 2: for them. Genius is actually tell my mom that From

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Speaker 2: time to time, I feel like, why did you do this?

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Speaker 2: Like I love my siblings, but also you're crazy exactly, No,

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Speaker 2: that's so special. Having three siblings must be a lot

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Speaker 2: of fun. I want to know more about now who

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Speaker 2: you are, So, you know, growing up obviously that was

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Speaker 2: the case, you're now an adult. What happened between being

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Speaker 2: a teenager and your money story changing and today.

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Speaker 4: I'd say because of the way I grew up, I

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Speaker 4: guess I and like the way that my parents sort

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Speaker 4: of you know, hustled head down trying to just make

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Speaker 4: enough money to survive and just like put food on

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Speaker 4: the table. I guess I grew up with that motto

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Speaker 4: of like money's meant to be saved and not spent,

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Speaker 4: and if it's spent then it has to be like

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Speaker 4: for necessities only, which is I guess, like a you know,

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Speaker 4: solid mindset to start from. But I feel like it

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Speaker 4: sort of had impacts on me later on when I

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Speaker 4: had my own money as well, because I felt like

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Speaker 4: I would get like a bit of spending anxiety even

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Speaker 4: on like things that were necessities, like bills or like

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Speaker 4: groceries or yeah, just like food and stuff, Like I

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Speaker 4: would like put off paying bills to the last day,

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Speaker 4: for example, just to I don't know, stretch it out,

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Speaker 4: even though I knew I'd eventually have to pay it.

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Speaker 2: I feel like that's really common though. I feel like

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Speaker 2: that's so common, especially for people in your circa stance,

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Speaker 2: where if you didn't come from money, then finally having it,

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Speaker 2: it's really hard to part with it. And that's often

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Speaker 2: obviously relatively crippling because it doesn't put you in the

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Speaker 2: best possible financial position. Because I know if I sat

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Speaker 2: you down at the time a bill with you and

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Speaker 2: I'll be like, it's better to pay it early, right,

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Speaker 2: you'd be like absolutely, Victoria, like get it off my plate.

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Speaker 2: But then in the background, it's this mental anguish of going,

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Speaker 2: but if I pay it, the money's out of my

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Speaker 2: account and what if something happens and I need the

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Speaker 2: money for something, And I just I think that's really relatable.

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Speaker 4: Yeah, yeah, it's always the like what if some big

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Speaker 4: thing happens and I suddenly need to take a lot

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Speaker 4: of money for that. I think like the concept of

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Speaker 4: having an emergency fund has helped me in that aspect.

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Speaker 4: So it's sort of like that waights off my mind.

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Speaker 2: Yeah, that's good. That's good. I really like that. I

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Speaker 2: want to know. You mentioned in your story in that

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Speaker 2: you used to have a job and now you have

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Speaker 2: your own business with your dad. What do you do

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Speaker 2: for work and how much money do you earn?

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Speaker 4: Yeah? So right now I run a small property management

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Speaker 4: business of my dad with my dad as the business partner,

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Speaker 4: my sole business partner. We specialize in short term and

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Speaker 4: vacation rentals, and we help our clients of everything from

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Speaker 4: like setting up their property and marketing it to like

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Speaker 4: managing bookings and guests and housekeeping. So basically like everything

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Speaker 4: you need to run a successful short stay or vacation rental.

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Speaker 2: That's very cool.

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Speaker 4: And within that, I because it's really just us too,

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Speaker 4: wear a lot of hats. In terms of pay, I

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Speaker 4: currently pay myself fifty five K plus super plus a

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Speaker 4: ten percent profit share. And you know, although that's what

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Speaker 4: we have on paper, I'm actually thinking of like putting

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Speaker 4: that ten percent back into the business instead of taking

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Speaker 4: it for myself, just because I think like at this point,

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Speaker 4: investing in the business and helping it grow is yeah,

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Speaker 4: really my priority. And I think with the way I live,

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Speaker 4: especially like after taking a pay cut, like I don't

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Speaker 4: have a really fancy line for anything, Like I'm able

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Speaker 4: to sort of maintain my current lifestyle.

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Speaker 2: I like that tell me more about these business Like

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Speaker 2: how did you know that you wanted to go all

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Speaker 2: in and quit your big paying job. You're one hundred

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Speaker 2: and twenty five grand and then you're like, you know what,

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Speaker 2: I'm just going to start my own business. What was

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Speaker 2: that thought process and what made you confident to do it?

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Speaker 4: Yeah, well I definitely wasn't confident to do it, just

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Speaker 4: to put that out there, and I think I know

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Speaker 4: mentioned in my submission in that like to this day,

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Speaker 4: like I.

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Speaker 2: Still second guess your decision.

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Speaker 4: Yeah, like second guessing, have doubts come up time to time.

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Speaker 4: But from like I guess talking to like you know,

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Speaker 4: mentors or other people who have run businesses, it seems

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Speaker 4: like they always tell me that's quite common.

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Speaker 2: It's very normal. I question myself literally every day. I

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Speaker 2: have the worst imposter syndrome in the entire world. I

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Speaker 2: genuinely believe that after nearly five hundred podcast episodes, someone's

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Speaker 2: going to listen to my podcast and be like, she

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Speaker 2: doesn't know what she's talking about. Get her off, get

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Speaker 2: her off here? What the hell? Who let her hear?

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Speaker 4: Like?

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Speaker 2: Who let her out of this house?

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Speaker 1: Like?

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Speaker 2: Absolutely not? Put her back in a box, like cancel,

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Speaker 2: she's on the money. It's toxic. It doesn't help anybody,

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Speaker 2: does it?

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Speaker 4: One hundred percent? Like it's it's definitely like the impost syndrome.

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Speaker 4: And yeah, that's exactly the same spiral.

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Speaker 2: I go down. You're like, I don't deserve to be

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Speaker 2: running a business? Who who am I? What audacity have

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Speaker 2: I got? But do you know what? I learned a

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Speaker 2: lot about you when you told me what you earned

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Speaker 2: and the fact that you've probably got an incredibly well

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Speaker 2: structured business and financial plan. When you say I pay

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Speaker 2: myself fifty five thousand dollars plus super organized tax, and

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Speaker 2: I also have a ten percent profit share? How did

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Speaker 2: you learn to structure a business that way so early,

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Speaker 2: my friend? Because that's not normal. Most people just take

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Speaker 2: out some cash to pay their bills. They don't pay

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Speaker 2: themselves super They're definitely not talking about profit share, especially

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Speaker 2: this early on, Like where's this come from? Why are

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Speaker 2: you so smart?

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Speaker 4: I'd say the fifty five K. I sort of just

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Speaker 4: calculated the amount that I would need to just live on,

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Speaker 4: and I cut down a lot of my expenses by

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Speaker 4: first of all moving from my very nice apartment in

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Speaker 4: the city to you know, into the suburbs of my partner.

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Speaker 4: And then I guess having shared living costs that way

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Speaker 4: has really helped with like budgeting. As I said before,

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Speaker 4: like I don't really have a very glam life apart

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Speaker 4: from I guess, like a holiday every year. Like there's

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Speaker 4: not like I'm not going out to like fine dining

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Speaker 4: or high end places or shopping a lot. I guess

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Speaker 4: I'm lucky in that my lifestyle has always been quite manageable.

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Speaker 4: I guess the downside is then obviously I'm not saving

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Speaker 4: as much like you know in my bank account, or

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Speaker 4: investing as much. But I sort of think of it

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Speaker 4: the other way, which is like I'm investing in the

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Speaker 4: business instead, and eventually like this is the biggest investment,

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Speaker 4: it's hopefully going to have the biggest returns as far

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Speaker 4: in the future.

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Speaker 2: How did you structure this so you thought, all right,

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Speaker 2: I'm going to start a business. I'm assuming you went

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Speaker 2: onto the government website registered in ABN, But how did

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Speaker 2: you know what to do next? How did you know

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Speaker 2: what to do about accounting and you know, marketing and

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Speaker 2: finance and even hr like what does all of that

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Speaker 2: look like and how did you learn?

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Speaker 4: Yeah, I think it's a combination of my dad already

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Speaker 4: having run a business in the past, so he's you know,

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Speaker 4: already operating a small business, albeit like in a completely

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Speaker 4: different industry. So he sort of needed a process of

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Speaker 4: like setting up an ABN, setting up an ACN and

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Speaker 4: all of that and sort of the paperwork behind it.

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Speaker 4: Already had like a business accountant, so we were able

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Speaker 4: to leverage that, but also everything else, like I think

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Speaker 4: came from like just researching digging through Google, and also

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Speaker 4: just like from my past experiences is working in my

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Speaker 4: day job. Since graduating, I've worked in marketing, I've worked

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Speaker 4: in consulting and then most recently tech and I think

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Speaker 4: given the structure of some of those companies as well,

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Speaker 4: some were large organizations, some were startups, I was like

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Speaker 4: exposed to like different areas in each business and sort

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Speaker 4: of how they manage their employees and like, for example,

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Speaker 4: the startup had options for employees to you know, buy

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Speaker 4: shares and you know, become like part of the business

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Speaker 4: and participate in that profit share scheme as well. So

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Speaker 4: that sort of came from yeah, just a I guess

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Speaker 4: margamation of yeah, different experiences I had sort of gathered

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Speaker 4: last free years of work, but definitely not perfect.

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Speaker 2: No, that's fine. It's just really cool to understand how

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Speaker 2: people start, because I think a lot of us have

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Speaker 2: the aspiration of being like, well, maybe one day I'll

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Speaker 2: start a business, but like how and I promise it's

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Speaker 2: not as hard as people think it is. Running the

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Speaker 2: business is hard, but starting the business is very easy.

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Speaker 2: Why property management, my friend, how did you fall into that?

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Speaker 2: When did you realize that that was something that you

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Speaker 2: were like, do you know what? I think I could

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Speaker 2: make a whole business out of this.

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Speaker 4: How it all sort of started, was, I guess before

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Speaker 4: I started my grad job. So out of UNI, I

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Speaker 4: helped my dad set up the first property online, and

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Speaker 4: that was like an investment property that he had originally

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Speaker 4: purchased and wanted to live in after retirement and occasionally

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Speaker 4: use it as like a holiday home. He sort of

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Speaker 4: just asked me like, hey, do you want me to

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Speaker 4: help me manage this property? Sort of as like a

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Speaker 4: side thing like then that was really the original intent

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Speaker 4: for it to be sort of like a thing that

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Speaker 4: I set and forget, and it's sort of, you know,

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Speaker 4: just one property runs on its own, not that much overhead.

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Speaker 4: So I originally started with that, and yeah, it was

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Speaker 4: really trial and error for like the first few months.

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Speaker 4: I quickly realized that there's a totally different level of

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Speaker 4: risk running like a short stay rental versus like just

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Speaker 4: a long term lease, because a long term lease is

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Speaker 4: really just set and forget, right, like you just want

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Speaker 4: someone who pays the bills on time, whereas a short stay.

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Speaker 4: I realized that this is like a business, Like there's

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Speaker 4: like communication with like people coming in and out, organizing

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Speaker 4: like housekeeping, schedules, marketing it so you know, in the

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Speaker 4: high seasons you can attract more bookings and then the

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Speaker 4: low seasons you sort of have different pricing strategies to

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Speaker 4: sort of shoulder it as well. But yeah, that's sort

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Speaker 4: of how it started. And for a while it was

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Speaker 4: sort of you know, cruise, you we were trial and

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Speaker 4: erroring it the point where I realized like, oh, this

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Speaker 4: is you know, like a business, this is.

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Speaker 2: The whole thing.

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Speaker 4: Yeah, yeah, yeah, like it's actually gaining some traction is

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Speaker 4: when we started getting noticed by like other property owners

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Speaker 4: nearby asking us.

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Speaker 2: Like hey, who manages your property?

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Speaker 4: Yeah? Yeah, like would you possibly be interested in helping

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Speaker 4: us manage ours? Or like you know, how do you

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Speaker 4: do it? And it was then that we acquired a

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Speaker 4: few more under our management. But one thing I'd like

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Speaker 4: to say is at this time, like our infrastructure did

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Speaker 4: not support it, yeah, or like it was really yet

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Speaker 4: breaking point, like because he had asked me to set

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Speaker 4: up this one property for him when I was just

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Speaker 4: out of UNI, before I had even started a full

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Speaker 4: time job. Yet our operating like processes and procedure were

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Speaker 4: like bare bones. It was basically just an Excel sheet

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Speaker 4: with like a to random formulas that I had made.

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Speaker 2: Is that's the easiest thing to do when you just

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Speaker 2: have one thing to do exactly?

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Speaker 4: It was like the MVP, right, And it was just

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Speaker 4: like a few message templars I had written up. There

360
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Speaker 4: was like no chat GPT, so I just you know

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Speaker 4: wrote all of them myself.

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Speaker 2: Oh chat GPT would do amazing things for you now,

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Speaker 2: right right, so incredible.

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Speaker 4: Yeah, So it was really really like their votes. Everything

365
00:19:25,080 --> 00:19:29,320
Speaker 4: was like manual on EXL so when we got a

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Speaker 4: few more properties under management. To be honest, I feel

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Speaker 4: like I could have buffed up the tech more at

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Speaker 4: that time, but because I was also by that time

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Speaker 4: also juggling a full time job, I just didn't have

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Speaker 4: like the time or energy to invest into it. So

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Speaker 4: it was really like bootstrapping it.

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Speaker 2: For a while, just get it done.

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Speaker 4: Yeah, exactly. And yeah, because my intention had always been,

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Speaker 4: my thinking has always been like, oh yeah, I'm just

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Speaker 4: gonna you know, through my day job. I'm gonna go

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Speaker 4: and you know, start my career, and I'm going to

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Speaker 4: progress along in my career in like a completely different field.

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Speaker 4: This is just like a humble side hustle that I'm doing.

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Speaker 4: I didn't really invest that much more into it. I'd say,

380
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Speaker 4: like the point when I decided that I could go

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Speaker 4: full time into this business, it was because of like

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Speaker 4: several reasons, I guess. First of all, the current job

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Speaker 4: that I was in, the one right before this was,

384
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Speaker 4: like I mentioned in my submission, a bit toxic.

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Speaker 2: Yeah.

386
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Speaker 4: And I don't want to say that word lightly as well,

387
00:20:39,480 --> 00:20:41,520
Speaker 4: because it is like quite a strong word.

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Speaker 2: It was really bad.

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Speaker 4: It was really bad, Like it was. It was full

390
00:20:45,400 --> 00:20:48,600
Speaker 4: of politics, a lot of red tape. It was a

391
00:20:48,680 --> 00:20:52,719
Speaker 4: large organization and just like a poor work culture, and

392
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Speaker 4: I was just like mentally and emotionally drained every day

393
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Speaker 4: working there. But at the same time, it was like

394
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Speaker 4: I was getting paid like a good salary.

395
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Speaker 2: There's always a trade off.

396
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Speaker 4: Yeah, yeah, So it really took a lot of I guess,

397
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Speaker 4: like convincing from I guess like my partner and also

398
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Speaker 4: myself to make that switch, because I think by that

399
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Speaker 4: point I was like still so focused on like the

400
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Speaker 4: dollar figure and like the number.

401
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Speaker 2: And that would have meant a lot to you as well,

402
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Speaker 2: especially in your background, the idea of earning one hundred

403
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Speaker 2: and twenty five thousand dollars at twenty three, Like, I

404
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Speaker 2: don't know, if I could have walked away from that,

405
00:21:34,359 --> 00:21:36,639
Speaker 2: I would have stayed in my little toxic bubble of

406
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Speaker 2: toxicness and pretended I liked it.

407
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Speaker 4: Yeah, yeah, exactly. And I think what it came down

408
00:21:43,560 --> 00:21:48,200
Speaker 4: to was like after just being so like emotionally drained

409
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Speaker 4: every day, just wondering to myself, like is this actually

410
00:21:53,000 --> 00:21:55,800
Speaker 4: worth it? Like first of all, like my lifestyle isn't

411
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Speaker 4: like I don't need a lot of money to just

412
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Speaker 4: live mine lifestyle like, yes, I was saving a lot,

413
00:22:01,960 --> 00:22:04,400
Speaker 4: which was good. But at the end of the day,

414
00:22:04,480 --> 00:22:07,480
Speaker 4: like you know, I think you like you talk about

415
00:22:07,600 --> 00:22:11,520
Speaker 4: values on your podcast, and I think it that's sort

416
00:22:11,520 --> 00:22:14,160
Speaker 4: of what it came down to, is like the life

417
00:22:14,240 --> 00:22:17,119
Speaker 4: that I want to lead in the future. Like I

418
00:22:17,320 --> 00:22:20,200
Speaker 4: sort of I realized, like, hey, I just need to

419
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Speaker 4: make enough money to facilitate the sort of life I

420
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Speaker 4: want in the future.

421
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Speaker 2: I love I love it that's the way you're thinking about.

422
00:22:27,400 --> 00:22:32,800
Speaker 4: It, rather than like just reach like a really high,

423
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Speaker 4: arbitrary figure that you know will never be enough, Like

424
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Speaker 4: if you'll just focused on a figure, go high higher,

425
00:22:39,880 --> 00:22:43,040
Speaker 4: but the trade off is like work life balance or

426
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Speaker 4: mental health, and like, that's not what I want to

427
00:22:46,880 --> 00:22:50,280
Speaker 4: see in my future. So I guess it was realizing that,

428
00:22:50,480 --> 00:22:54,520
Speaker 4: but realizing that was also kind of painful because it

429
00:22:54,560 --> 00:22:57,119
Speaker 4: was then like going back and realizing, like, oh, what

430
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Speaker 4: have I worked so hard for?

431
00:22:58,840 --> 00:23:02,879
Speaker 2: I guess, Yeah, but you learned a lot. Yeah, and

432
00:23:02,920 --> 00:23:04,760
Speaker 2: you learn a lot about what you didn't like and

433
00:23:04,800 --> 00:23:07,159
Speaker 2: what you wouldn't accept. And I think that sometimes we

434
00:23:07,280 --> 00:23:11,040
Speaker 2: disregard how much we've learned, even though it's not super positive.

435
00:23:11,760 --> 00:23:13,920
Speaker 2: But yeah, pay off in the future. I promise.

436
00:23:14,560 --> 00:23:18,159
Speaker 4: Yeah, yeah, one hundred percent. Like I sort of, you know,

437
00:23:18,240 --> 00:23:21,800
Speaker 4: took it always learning experiences, but I did sort of,

438
00:23:22,440 --> 00:23:25,760
Speaker 4: upon reflection, look back and sort of realize that I

439
00:23:25,800 --> 00:23:29,720
Speaker 4: had pinned a lot of my self worth to my

440
00:23:29,840 --> 00:23:33,479
Speaker 4: achievements and by like how much I was making or

441
00:23:33,520 --> 00:23:37,560
Speaker 4: what I was doing, and and it's like really dangerous,

442
00:23:37,600 --> 00:23:40,480
Speaker 4: I feel to think that way, because yeah, like when

443
00:23:41,200 --> 00:23:45,280
Speaker 4: what you're doing no longer sort of fulfills you anymore,

444
00:23:45,640 --> 00:23:48,800
Speaker 4: like I was feeling in my last job, your self

445
00:23:48,840 --> 00:23:51,880
Speaker 4: worth or like your sense of self starts chipping away

446
00:23:51,920 --> 00:23:55,360
Speaker 4: as well, because it's so like inextricably tied in your

447
00:23:55,400 --> 00:23:57,560
Speaker 4: mind to your achievements and what you're doing.

448
00:23:57,640 --> 00:23:58,680
Speaker 2: Yeah, that's so true.

449
00:23:58,720 --> 00:24:03,000
Speaker 4: So it's like your whole reality, Like YEAHS questioned.

450
00:24:02,800 --> 00:24:05,280
Speaker 2: Yeah, oh my gosh, I'm so excited that you did

451
00:24:05,359 --> 00:24:06,800
Speaker 2: it though. That's so good.

452
00:24:07,760 --> 00:24:08,160
Speaker 3: Yeah.

453
00:24:08,240 --> 00:24:10,680
Speaker 4: Yeah, so it was definitely like a leap of faith.

454
00:24:10,880 --> 00:24:13,080
Speaker 2: But yeah, I think a calculated one.

455
00:24:13,240 --> 00:24:14,560
Speaker 4: Yes, hopefully calculated.

456
00:24:14,680 --> 00:24:15,400
Speaker 2: I love that.

457
00:24:15,880 --> 00:24:18,520
Speaker 4: But yeah, this opportunity as well to run a full

458
00:24:18,560 --> 00:24:20,840
Speaker 4: time also, I guess appeared at the right time and

459
00:24:20,880 --> 00:24:25,120
Speaker 4: place as well, because, as I said, we were sort

460
00:24:25,160 --> 00:24:28,120
Speaker 4: of at breaking point with how we were managing it

461
00:24:28,200 --> 00:24:33,560
Speaker 4: like our current operations. Our current infrastructure wasn't supporting like

462
00:24:33,640 --> 00:24:37,600
Speaker 4: the amount of I guess, like bookings or like traffic

463
00:24:37,800 --> 00:24:39,679
Speaker 4: and revenue that we were taking.

464
00:24:39,840 --> 00:24:41,040
Speaker 2: Yeah, that's fair as well.

465
00:24:41,080 --> 00:24:44,960
Speaker 4: Like it was literally the same Excel spreadsheet and formulas

466
00:24:45,000 --> 00:24:46,520
Speaker 4: I had made years ago.

467
00:24:47,480 --> 00:24:49,760
Speaker 2: Please tell me we've retired the XCEL.

468
00:24:50,960 --> 00:24:53,040
Speaker 4: Oh my gosh, it's it's really bad.

469
00:24:53,200 --> 00:24:56,240
Speaker 2: Like no, not, we all start somewhere. My entire business

470
00:24:56,280 --> 00:24:58,399
Speaker 2: used to be run on XL and it was embarrassing

471
00:24:58,440 --> 00:25:00,440
Speaker 2: the day I walked into my account and I, I

472
00:25:00,520 --> 00:25:03,200
Speaker 2: think I've got a legit business and we probably should

473
00:25:03,200 --> 00:25:06,600
Speaker 2: have accounting software. And you said, m Yeah, I told

474
00:25:06,640 --> 00:25:09,080
Speaker 2: you that twelve months ago. So you know what. I

475
00:25:09,119 --> 00:25:11,159
Speaker 2: did my stuff in my time, and I'm sure you

476
00:25:11,200 --> 00:25:13,880
Speaker 2: did too. But we're just we're all just trying our

477
00:25:13,880 --> 00:25:14,560
Speaker 2: best out here.

478
00:25:14,600 --> 00:25:18,560
Speaker 4: Okay, exactly exactly. It's MVP. It's you know, the minimum

479
00:25:18,600 --> 00:25:22,399
Speaker 4: viable product, it's it's whatever works exaxactly. All right.

480
00:25:22,480 --> 00:25:24,160
Speaker 2: I want to know, can you tell me a bit

481
00:25:24,160 --> 00:25:26,399
Speaker 2: more about your big money goals? Like what are you

482
00:25:26,480 --> 00:25:27,680
Speaker 2: working towards?

483
00:25:28,119 --> 00:25:31,119
Speaker 4: Yeah, so a big money goal right now is definitely

484
00:25:31,400 --> 00:25:34,919
Speaker 4: purchasing our next home with my partner. So in the

485
00:25:34,960 --> 00:25:36,720
Speaker 4: next four to five.

486
00:25:36,600 --> 00:25:38,840
Speaker 2: Years, do you already own a home.

487
00:25:38,720 --> 00:25:40,640
Speaker 4: Yes, both of us own a home.

488
00:25:40,760 --> 00:25:43,600
Speaker 2: A big dog, energy, she's a baby, she has her

489
00:25:43,640 --> 00:25:45,520
Speaker 2: own business, she owns a home. She wants to buy

490
00:25:45,520 --> 00:25:46,760
Speaker 2: another one, of course she does.

491
00:25:48,600 --> 00:25:52,400
Speaker 4: Yeah, so that's our money goal in the next four

492
00:25:52,440 --> 00:25:54,600
Speaker 4: to five years. So it's still quite a while away.

493
00:25:54,840 --> 00:25:58,640
Speaker 2: Four to five years. That's tomorrow. That's so soon. That's

494
00:25:58,680 --> 00:25:59,440
Speaker 2: so exciting.

495
00:26:00,119 --> 00:26:03,040
Speaker 4: Yeah, yeah, so you know, yeah, hoping by then we'll

496
00:26:03,119 --> 00:26:07,520
Speaker 4: both have enough like borrowing power and you know, would

497
00:26:07,560 --> 00:26:10,400
Speaker 4: have saved up a bit as well to make that purchase.

498
00:26:10,920 --> 00:26:13,200
Speaker 4: And you know, we might have to sell one of

499
00:26:13,320 --> 00:26:17,119
Speaker 4: both properties. Depends how we go. I see, I guess.

500
00:26:17,359 --> 00:26:20,440
Speaker 2: Oh how exciting. All right, I have a lot more

501
00:26:20,520 --> 00:26:22,160
Speaker 2: questions for you. We're going to go to a really

502
00:26:22,240 --> 00:26:24,159
Speaker 2: quick break and on the flip side. I want to

503
00:26:24,200 --> 00:26:26,600
Speaker 2: know more about your investments, your properties. I want to

504
00:26:26,640 --> 00:26:28,520
Speaker 2: know about debt, and I also want to know about

505
00:26:28,520 --> 00:26:34,840
Speaker 2: your best and worst money habits. Don't go anywhere, guys.

506
00:26:35,760 --> 00:26:39,800
Speaker 2: All right, money diarist, we are back, and you slipped

507
00:26:39,800 --> 00:26:42,240
Speaker 2: in that you might have to sell one or both properties.

508
00:26:42,280 --> 00:26:44,800
Speaker 2: Are you trying to tell me that you've got multiple properties.

509
00:26:45,680 --> 00:26:48,720
Speaker 2: If so, can you tell me about your investments, my friend.

510
00:26:48,600 --> 00:26:52,680
Speaker 4: Yeah, definitely not multiple. I do have one investment property

511
00:26:52,800 --> 00:26:56,840
Speaker 4: that I got about a year ago. It's an investment

512
00:26:56,880 --> 00:27:01,040
Speaker 4: property that I do get rental income from, so it

513
00:27:01,119 --> 00:27:04,160
Speaker 4: adds about twenty k to my income every year.

514
00:27:04,320 --> 00:27:05,120
Speaker 2: Oh how cool.

515
00:27:05,359 --> 00:27:08,159
Speaker 4: But yeah, I did buy it at a very sweet

516
00:27:08,320 --> 00:27:10,240
Speaker 4: low interest rate a year ago.

517
00:27:10,520 --> 00:27:12,800
Speaker 2: So oh yeah, and now you feel like you're being

518
00:27:12,840 --> 00:27:13,760
Speaker 2: kicked while you're down.

519
00:27:14,160 --> 00:27:18,480
Speaker 4: Yeah. Yeah, so I'm really not looking forward to when

520
00:27:18,560 --> 00:27:21,680
Speaker 4: that fixed rate period runs out and I have to

521
00:27:21,920 --> 00:27:22,960
Speaker 4: face the reality.

522
00:27:23,119 --> 00:27:25,560
Speaker 2: Like everyone else, you need to talk to the girls

523
00:27:25,560 --> 00:27:27,840
Speaker 2: at Zella Money to make sure that you're structured well

524
00:27:27,880 --> 00:27:30,240
Speaker 2: for that so that it doesn't completely bite you in

525
00:27:30,280 --> 00:27:32,960
Speaker 2: the bottom when it pops up, so that everything is

526
00:27:33,040 --> 00:27:35,920
Speaker 2: good to go. I feel like all of our clients

527
00:27:35,960 --> 00:27:38,080
Speaker 2: at the moment are super stressed about that. But with

528
00:27:38,160 --> 00:27:41,280
Speaker 2: some good planning, it won't be nearly as painful, I promise.

529
00:27:42,640 --> 00:27:44,600
Speaker 4: Yeah. No, I definitely need to get onto that.

530
00:27:45,800 --> 00:27:48,199
Speaker 2: Tell me a bit more about this property though. How

531
00:27:48,280 --> 00:27:50,920
Speaker 2: much did you have to save to purchase it, and

532
00:27:51,480 --> 00:27:53,600
Speaker 2: how did you decide that that was the right investment

533
00:27:53,600 --> 00:27:54,240
Speaker 2: property for you?

534
00:27:54,880 --> 00:27:59,920
Speaker 4: Yeah, so I have to save the twenty percent deposit.

535
00:28:00,400 --> 00:28:06,120
Speaker 4: So it was a five hundred and seventy k property,

536
00:28:06,440 --> 00:28:10,439
Speaker 4: so the deposit on that was just over one hundred grand.

537
00:28:10,600 --> 00:28:12,560
Speaker 2: Oh my gosh, and you saved all of that money

538
00:28:13,040 --> 00:28:14,919
Speaker 2: and you're a baby. How did you do that?

539
00:28:15,600 --> 00:28:20,080
Speaker 4: I would say savings from UNI not much at all,

540
00:28:20,160 --> 00:28:22,399
Speaker 4: because I was working part time, of course, but also

541
00:28:22,600 --> 00:28:26,400
Speaker 4: then working full time for just over two years and

542
00:28:27,000 --> 00:28:27,800
Speaker 4: living at home.

543
00:28:28,200 --> 00:28:31,480
Speaker 2: I'd say, yeah, okay, so that makes a lot more sense.

544
00:28:31,520 --> 00:28:34,280
Speaker 2: And as you said before, you obviously had a very

545
00:28:34,359 --> 00:28:37,880
Speaker 2: high income, but I'm assuming from the way that we've

546
00:28:37,920 --> 00:28:40,760
Speaker 2: been conversing, you don't spend all of that. You have

547
00:28:40,800 --> 00:28:43,440
Speaker 2: a relatively frugal life, Is that correct?

548
00:28:43,920 --> 00:28:47,440
Speaker 4: Yeah? Yeah, And to be honest, I wasn't sort of

549
00:28:47,520 --> 00:28:52,960
Speaker 4: like actively like saving towards this first home. Like it

550
00:28:53,000 --> 00:28:55,960
Speaker 4: wasn't in my mind that like, I'm saving towards a

551
00:28:56,000 --> 00:28:58,920
Speaker 4: first home because I really want to buy a property

552
00:28:59,440 --> 00:29:02,360
Speaker 4: at this time time or by the state. And like

553
00:29:02,400 --> 00:29:04,720
Speaker 4: I was living at home as well, which I'm super

554
00:29:04,800 --> 00:29:07,920
Speaker 4: lucky to have done, so I wasn't sort of like

555
00:29:07,960 --> 00:29:12,480
Speaker 4: paying rent or bills or anything. So yeah, incredibly lucky

556
00:29:12,480 --> 00:29:15,240
Speaker 4: for that. And I guess you know, those two years

557
00:29:15,240 --> 00:29:18,520
Speaker 4: were lockdown, so twenty twenty one.

558
00:29:18,600 --> 00:29:20,400
Speaker 2: Yeah, and there's not a lot you can do at

559
00:29:20,400 --> 00:29:21,600
Speaker 2: that period of time.

560
00:29:21,520 --> 00:29:24,239
Speaker 4: Exactly, so that you know, even if I wanted to,

561
00:29:24,520 --> 00:29:28,000
Speaker 4: there wasn't too much that I could blow my money

562
00:29:28,040 --> 00:29:31,320
Speaker 4: on during that time. And like, I know, like as

563
00:29:31,360 --> 00:29:33,400
Speaker 4: bad as it sounds, because I know a lot of

564
00:29:33,440 --> 00:29:37,440
Speaker 4: people suffered during lockdown, of course, Like I don't think

565
00:29:37,480 --> 00:29:39,920
Speaker 4: I would have been able to save up for a

566
00:29:39,960 --> 00:29:41,000
Speaker 4: deposit if.

567
00:29:40,880 --> 00:29:43,160
Speaker 2: It hadn't been yeah, unless you were kind of literally

568
00:29:43,200 --> 00:29:47,000
Speaker 2: locked inside and you couldn't go and spend all your money. Yes, yeah, yeah, no,

569
00:29:47,080 --> 00:29:48,840
Speaker 2: I think there are a lot of people like that.

570
00:29:49,080 --> 00:29:51,400
Speaker 2: And I mean it goes in ebbs and flows right

571
00:29:51,480 --> 00:29:53,800
Speaker 2: every single market, whether it is a bull market or

572
00:29:53,840 --> 00:29:56,000
Speaker 2: a bear market. There are people who benefit and there

573
00:29:56,000 --> 00:29:59,400
Speaker 2: are people who don't. And that's actually okay, it's not

574
00:29:59,440 --> 00:30:01,880
Speaker 2: your fault, but I can see why you're like, oh,

575
00:30:02,000 --> 00:30:04,080
Speaker 2: I feel a bit icky about this because so many

576
00:30:04,080 --> 00:30:06,640
Speaker 2: people were not doing well during that time. But I

577
00:30:06,680 --> 00:30:08,360
Speaker 2: promise you it is okay, my friend.

578
00:30:08,840 --> 00:30:11,480
Speaker 4: Yeah, yeah, And I felt like, you know, honestly, I

579
00:30:11,520 --> 00:30:14,720
Speaker 4: felt I don't know, like even a bit guilty at

580
00:30:14,720 --> 00:30:17,360
Speaker 4: the time, like I didn't put it on socials. I

581
00:30:17,400 --> 00:30:20,800
Speaker 4: didn't really tell many of my friends except like my closest.

582
00:30:21,240 --> 00:30:23,560
Speaker 2: Yeah, because you just feel uncomfortable because so many of

583
00:30:23,600 --> 00:30:26,760
Speaker 2: your friends might have lost jobs or really been struggling,

584
00:30:26,840 --> 00:30:29,080
Speaker 2: or their partners were losing jobs, or they're moving back

585
00:30:29,080 --> 00:30:31,040
Speaker 2: in with parents because they can't afford things. And then

586
00:30:31,080 --> 00:30:34,360
Speaker 2: you're out here being like, actually, hey, I've achieved something

587
00:30:34,400 --> 00:30:37,360
Speaker 2: really cool. I completely understand where you're coming from, but

588
00:30:37,400 --> 00:30:40,360
Speaker 2: it doesn't mean we should downplay your achievements because somebody else,

589
00:30:40,440 --> 00:30:41,360
Speaker 2: quote has it worse.

590
00:30:41,600 --> 00:30:45,440
Speaker 4: Yeah, I'm realizing that as well, but definitely, yeah, back

591
00:30:45,480 --> 00:30:50,160
Speaker 4: then it was sort of something I couldn't openly celebrate.

592
00:30:49,840 --> 00:30:52,000
Speaker 2: And that's okay. I think that just tells us how

593
00:30:52,040 --> 00:30:53,600
Speaker 2: much of a kind human being you are.

594
00:30:55,000 --> 00:30:59,360
Speaker 4: I guess. So the how I ended up buying that home, though,

595
00:30:59,680 --> 00:31:03,400
Speaker 4: was I wasn't really thinking about buying a property, but

596
00:31:04,000 --> 00:31:07,920
Speaker 4: sort of, you know, lockdowns and stuff lifted. The interest

597
00:31:08,000 --> 00:31:10,680
Speaker 4: rates were really low. I think that was definitely a

598
00:31:10,680 --> 00:31:14,560
Speaker 4: big motivator. And I know, like there's risks to that

599
00:31:14,680 --> 00:31:18,120
Speaker 4: as well, because it won't stay low forever. And now

600
00:31:18,160 --> 00:31:20,320
Speaker 4: I'm sort of you know, now we're all seeing that

601
00:31:20,960 --> 00:31:24,360
Speaker 4: but that definitely was like a big incentive to sort

602
00:31:24,400 --> 00:31:28,520
Speaker 4: of jump into the property market at the time, and

603
00:31:28,560 --> 00:31:31,600
Speaker 4: I was sort of encouraged by like family as well

604
00:31:31,720 --> 00:31:35,400
Speaker 4: to do it. It was sort of I think for them,

605
00:31:35,680 --> 00:31:39,400
Speaker 4: their mindset was really like why not, Like you have

606
00:31:40,000 --> 00:31:44,640
Speaker 4: the deposit and it's a really low interest rate, cash

607
00:31:44,760 --> 00:31:47,440
Speaker 4: is cheaper than ever, sort of the like why not

608
00:31:47,480 --> 00:31:50,360
Speaker 4: just do it now? So like I wish I could

609
00:31:50,440 --> 00:31:52,959
Speaker 4: say that I thought more about it apart from that,

610
00:31:53,120 --> 00:31:55,880
Speaker 4: but that was really like how it happened. Yeah.

611
00:31:55,920 --> 00:31:58,120
Speaker 2: Wow. I feel like it's nice that you can be

612
00:31:58,200 --> 00:32:00,440
Speaker 2: so honest about it, though, because I think so many

613
00:32:00,520 --> 00:32:03,280
Speaker 2: times people are saving and they just don't know what

614
00:32:03,320 --> 00:32:05,760
Speaker 2: they're saving for at that point, and then all of

615
00:32:05,800 --> 00:32:07,920
Speaker 2: a sudden it all falls into place and that's okay,

616
00:32:08,640 --> 00:32:11,760
Speaker 2: and that's amazing, and that's why we need consistent savings goals.

617
00:32:12,160 --> 00:32:13,960
Speaker 2: Do you have any other investments?

618
00:32:14,120 --> 00:32:20,080
Speaker 4: Yeah, I invest in stocks, so like ETFs and shares,

619
00:32:20,800 --> 00:32:23,880
Speaker 4: and I started doing that during like lockdown as well.

620
00:32:24,000 --> 00:32:27,800
Speaker 4: So I think to date it's got about twenty two

621
00:32:28,240 --> 00:32:30,680
Speaker 4: thousand dollars in like ETFs and shares.

622
00:32:30,760 --> 00:32:34,600
Speaker 2: Oh my gosh, you're a baller. I did not expect this.

623
00:32:35,560 --> 00:32:37,840
Speaker 4: That was definitely not the amount I put it. It's

624
00:32:37,840 --> 00:32:39,800
Speaker 4: gone up a bit from the time I put it in,

625
00:32:40,080 --> 00:32:42,720
Speaker 4: and it was like during the crash. So yeah, I

626
00:32:42,720 --> 00:32:44,360
Speaker 4: think I'm lucky.

627
00:32:44,360 --> 00:32:46,920
Speaker 2: Invested at a smart time in that sense. Yeah, how

628
00:32:46,920 --> 00:32:49,600
Speaker 2: did you decide what shares and what ETFs you wanted

629
00:32:49,600 --> 00:32:50,040
Speaker 2: to pick?

630
00:32:50,800 --> 00:32:54,160
Speaker 4: I'd say, like for myself, it was like a combination

631
00:32:54,360 --> 00:32:58,560
Speaker 4: of like research articles. No, sorry, not research articles that

632
00:32:58,600 --> 00:33:00,880
Speaker 4: makes it sound like it was like a medical journal

633
00:33:00,960 --> 00:33:06,280
Speaker 4: or something, but like researching articles online. Like friends and family,

634
00:33:06,360 --> 00:33:09,080
Speaker 4: I guess just like conversations with them, like oh, what

635
00:33:09,200 --> 00:33:12,520
Speaker 4: do you invest in and what do you think is

636
00:33:12,720 --> 00:33:16,320
Speaker 4: performing well? We're going to perform well. And like I'm

637
00:33:16,320 --> 00:33:21,840
Speaker 4: not like a very fine and investing person myself, Like

638
00:33:21,880 --> 00:33:24,680
Speaker 4: I don't like keep up with the stock market or anything.

639
00:33:25,200 --> 00:33:28,800
Speaker 4: So yeah, I really just rely on like my conversations

640
00:33:28,840 --> 00:33:32,200
Speaker 4: with the people around me to sort of let me

641
00:33:32,320 --> 00:33:34,200
Speaker 4: know what's going on most of the time.

642
00:33:34,400 --> 00:33:37,520
Speaker 2: That's cool to know, though. I really like understanding how

643
00:33:37,600 --> 00:33:41,240
Speaker 2: people make decisions and why they make decisions. And it's

644
00:33:41,280 --> 00:33:44,680
Speaker 2: so interesting because even if this was your first investment,

645
00:33:44,960 --> 00:33:47,440
Speaker 2: it's going to be so different to somebody else's first investment.

646
00:33:47,440 --> 00:33:49,760
Speaker 2: And their thought process and what that actually looks like.

647
00:33:49,800 --> 00:33:52,040
Speaker 2: It makes me. I just love it. I'm so interested

648
00:33:52,080 --> 00:33:54,280
Speaker 2: in it. Everyone else is like, Victoria, that's so boring.

649
00:33:54,320 --> 00:33:55,840
Speaker 2: I'm like, no, it's not. Tell me more.

650
00:33:56,160 --> 00:33:59,680
Speaker 4: Yeah, it's really interesting. I find it fascinating myself as

651
00:33:59,680 --> 00:34:00,680
Speaker 4: well too.

652
00:34:01,280 --> 00:34:03,720
Speaker 2: I want to know. Now, I know you've got some debt,

653
00:34:03,760 --> 00:34:06,720
Speaker 2: because there's no way you've paid off that whole mortgage yet,

654
00:34:06,840 --> 00:34:08,840
Speaker 2: tell me about debts. Do you have any? If so,

655
00:34:08,960 --> 00:34:09,520
Speaker 2: what are they?

656
00:34:10,080 --> 00:34:13,080
Speaker 4: Yes? So I do have a mortgage on my property,

657
00:34:13,719 --> 00:34:16,880
Speaker 4: and yeah, like you said, I really should calculate how

658
00:34:16,920 --> 00:34:20,920
Speaker 4: much my repayments will go up by and yeah, what

659
00:34:21,040 --> 00:34:25,879
Speaker 4: impact that would have on my lifestyle. But yeah, I've

660
00:34:25,880 --> 00:34:29,440
Speaker 4: just been procrastinating, putting it off a bit, just because

661
00:34:29,600 --> 00:34:31,240
Speaker 4: the thought seems very scary.

662
00:34:31,440 --> 00:34:33,319
Speaker 2: Soon you work out what that's going to mean, and

663
00:34:33,440 --> 00:34:36,960
Speaker 2: when the easier or B I promise, I know, I know,

664
00:34:37,160 --> 00:34:40,520
Speaker 2: I promise. So any other debts just the mortgage at

665
00:34:40,520 --> 00:34:41,000
Speaker 2: this point.

666
00:34:41,160 --> 00:34:44,000
Speaker 4: No, I also have my hex debt, although I'm not

667
00:34:44,160 --> 00:34:47,000
Speaker 4: loving the indexation on that either.

668
00:34:47,239 --> 00:34:48,719
Speaker 2: Nobody is. Don't worry.

669
00:34:49,000 --> 00:34:52,680
Speaker 4: Currently after indexation, it's sitting at just over eight.

670
00:34:52,640 --> 00:34:55,839
Speaker 2: K oh that's okay, that's not too bad at all,

671
00:34:55,880 --> 00:34:58,239
Speaker 2: but indexation would have made you feel a little bit

672
00:34:58,239 --> 00:35:00,080
Speaker 2: sick when you're so close to the finish line.

673
00:35:00,400 --> 00:35:03,040
Speaker 4: Yeah. Yeah, I actually just checked it last night and

674
00:35:03,080 --> 00:35:07,000
Speaker 4: I was like surprised by the amount. I think, like

675
00:35:07,280 --> 00:35:10,120
Speaker 4: because it had just been like I've just been automatically

676
00:35:10,120 --> 00:35:14,160
Speaker 4: paying it off like every pacelip. It's gone down like

677
00:35:14,280 --> 00:35:16,680
Speaker 4: faster than I've thought it would have been.

678
00:35:16,960 --> 00:35:20,120
Speaker 2: Oh that's good, though. I want to know, because I

679
00:35:20,120 --> 00:35:22,160
Speaker 2: feel like you've got a few what are your best

680
00:35:22,280 --> 00:35:23,000
Speaker 2: money have its?

681
00:35:23,520 --> 00:35:26,520
Speaker 4: I think like a combination of having like a high

682
00:35:26,560 --> 00:35:30,359
Speaker 4: interest bank account and credit card. So I do use

683
00:35:30,400 --> 00:35:35,480
Speaker 4: a credit card to you know, just manage my like

684
00:35:35,560 --> 00:35:37,640
Speaker 4: cash and cash out sort of thing.

685
00:35:37,760 --> 00:35:37,840
Speaker 1: Like.

686
00:35:37,880 --> 00:35:41,400
Speaker 4: I use it more as like a financial tool, which

687
00:35:41,400 --> 00:35:43,719
Speaker 4: is why I sort of don't consider it that much

688
00:35:43,760 --> 00:35:46,280
Speaker 4: as dead because I've I've never been late on a payment.

689
00:35:46,360 --> 00:35:49,799
Speaker 2: No, but that's okay, because everybody is. Everyone's in a

690
00:35:49,800 --> 00:35:52,160
Speaker 2: different situation, right. I know, if you gave me a

691
00:35:52,160 --> 00:35:54,880
Speaker 2: credit card, I'd be tap happy and we would not

692
00:35:54,920 --> 00:35:57,440
Speaker 2: be in a good financial position at all. But someone

693
00:35:57,520 --> 00:35:59,760
Speaker 2: like you who's using it as a tool to create

694
00:35:59,800 --> 00:36:04,399
Speaker 2: more financial resources genius, so smart. I can't be trusted though.

695
00:36:04,920 --> 00:36:07,319
Speaker 4: I think it's also the points that I earned from

696
00:36:07,440 --> 00:36:10,080
Speaker 4: credit cards. Like I sort of just see it as like, oh,

697
00:36:10,200 --> 00:36:11,640
Speaker 4: free money, because.

698
00:36:11,520 --> 00:36:13,920
Speaker 2: I mean technically it is if you're not paying a

699
00:36:13,960 --> 00:36:16,200
Speaker 2: really big annual fee for your credit card.

700
00:36:16,680 --> 00:36:19,880
Speaker 4: Yeah yeah, So like on my day to day spending,

701
00:36:19,920 --> 00:36:22,120
Speaker 4: like it's money that I would have to spend anyway.

702
00:36:22,160 --> 00:36:25,360
Speaker 4: I sort of use my credit card to get the points,

703
00:36:25,520 --> 00:36:27,879
Speaker 4: but then like I have most of my money for

704
00:36:28,080 --> 00:36:30,240
Speaker 4: like most of the time in like a high interest

705
00:36:30,280 --> 00:36:32,680
Speaker 4: bank account, so I get the interest, but then I

706
00:36:32,719 --> 00:36:36,160
Speaker 4: also get the points. And right before my credit cards

707
00:36:36,200 --> 00:36:38,759
Speaker 4: bill is do you I pay it off fully? So

708
00:36:39,280 --> 00:36:41,600
Speaker 4: I don't, you know, get any fees from that.

709
00:36:41,800 --> 00:36:43,759
Speaker 2: You don't see it. You don't get any fees. You're

710
00:36:43,760 --> 00:36:45,840
Speaker 2: not paying any interest, which is the smart way to

711
00:36:45,920 --> 00:36:46,760
Speaker 2: use a credit card.

712
00:36:47,120 --> 00:36:51,160
Speaker 4: Yeah. Yeah. And because I had like accumulated like a

713
00:36:51,200 --> 00:36:54,080
Speaker 4: fair amount of points from like some credit cards have

714
00:36:54,120 --> 00:36:56,799
Speaker 4: bonuses when you sign up for them. Plus sort of

715
00:36:56,840 --> 00:37:00,719
Speaker 4: like my like day to day spending, I've cashed out

716
00:37:00,800 --> 00:37:04,520
Speaker 4: like four or five hundred dollars worth of like vouchers.

717
00:37:04,520 --> 00:37:08,280
Speaker 2: So far money win. That's free money. That's absolutely free money.

718
00:37:08,320 --> 00:37:09,000
Speaker 2: That's girl math.

719
00:37:09,360 --> 00:37:12,319
Speaker 4: It's one hundred percent girl maths, and it's so good.

720
00:37:12,440 --> 00:37:14,800
Speaker 2: Oh, I love that You're so smart when it comes

721
00:37:14,800 --> 00:37:17,120
Speaker 2: to that. See, I would just collect all the points

722
00:37:17,160 --> 00:37:20,320
Speaker 2: and then forget that they were there as well, because

723
00:37:20,320 --> 00:37:22,160
Speaker 2: I had all this new stuff that I bought with

724
00:37:22,200 --> 00:37:22,919
Speaker 2: my credit card.

725
00:37:23,440 --> 00:37:25,920
Speaker 4: I've been using it on like a Willy's vouchers oh

726
00:37:26,000 --> 00:37:29,319
Speaker 4: so much, just because like, groceries are so expensive these

727
00:37:29,360 --> 00:37:30,359
Speaker 4: days anyway.

728
00:37:30,120 --> 00:37:32,399
Speaker 2: One hundred percent they are. That's such a smart way

729
00:37:32,440 --> 00:37:34,360
Speaker 2: of using it as well, because that would go so

730
00:37:34,480 --> 00:37:37,960
Speaker 2: much further, and it also ends up impacting your overall budget.

731
00:37:38,000 --> 00:37:39,520
Speaker 2: Instead of you seeing it as like, oh I can

732
00:37:39,560 --> 00:37:42,040
Speaker 2: get something new and shiny with this, because it's girl

733
00:37:42,080 --> 00:37:45,440
Speaker 2: math money, you can actually cut down your bills and

734
00:37:45,480 --> 00:37:49,759
Speaker 2: your actual spending, which ultimately impacts your financial security. So

735
00:37:49,800 --> 00:37:50,440
Speaker 2: that's genius.

736
00:37:51,600 --> 00:37:54,480
Speaker 4: Yeah, that's I guess that's that's what I've been using

737
00:37:54,480 --> 00:37:58,880
Speaker 4: it for. But yeah, it's It's definitely helped with the

738
00:37:58,920 --> 00:37:59,959
Speaker 4: budget a bit more.

739
00:38:00,080 --> 00:38:02,759
Speaker 2: I know everybody listening to this is probably thinking, there's

740
00:38:02,840 --> 00:38:06,280
Speaker 2: no way this money direct has bad money habits. She's

741
00:38:06,760 --> 00:38:10,920
Speaker 2: so young, so smart, so good with money. But we

742
00:38:10,960 --> 00:38:13,120
Speaker 2: need to know do you have any bad money habits.

743
00:38:13,120 --> 00:38:13,720
Speaker 2: What is your.

744
00:38:13,600 --> 00:38:15,320
Speaker 4: Worst Unfortunately I do.

745
00:38:15,320 --> 00:38:18,040
Speaker 2: Oh yeah, okay, here we go, sorry.

746
00:38:17,760 --> 00:38:20,960
Speaker 4: To break the fac had. I think my worst money

747
00:38:21,000 --> 00:38:25,080
Speaker 4: habit is like going back to investing, is not really

748
00:38:25,160 --> 00:38:29,080
Speaker 4: having like a solid plan for investing. Like I get

749
00:38:29,080 --> 00:38:33,640
Speaker 4: the basic concepts of like investments and putting money into

750
00:38:33,719 --> 00:38:37,160
Speaker 4: shares and that, but I keep forgetting to do it

751
00:38:37,200 --> 00:38:40,480
Speaker 4: regularly or like sort of have a solid strategy for

752
00:38:41,040 --> 00:38:44,640
Speaker 4: doing it. So like, for example, every time I've invested

753
00:38:44,640 --> 00:38:48,719
Speaker 4: in shares, it's literally because I'll be having a conversation

754
00:38:48,920 --> 00:38:52,319
Speaker 4: with like family or a friend or my partner and

755
00:38:52,360 --> 00:38:55,760
Speaker 4: I like suddenly remember, like, oh, yeah, I have shares.

756
00:38:55,840 --> 00:38:58,600
Speaker 4: I should probably check in on them. It's been a while.

757
00:38:59,320 --> 00:39:00,840
Speaker 2: That's not the worst way to be.

758
00:39:01,360 --> 00:39:03,480
Speaker 4: And then I log on and then I might make

759
00:39:03,600 --> 00:39:05,520
Speaker 4: like one or two trays and then I just forget

760
00:39:05,560 --> 00:39:09,239
Speaker 4: about it for the next six months. I'm lucky in that,

761
00:39:09,480 --> 00:39:14,360
Speaker 4: like overall I haven't made a loss, but there definitely

762
00:39:14,960 --> 00:39:17,719
Speaker 4: has been like certain stocks and stuff.

763
00:39:17,440 --> 00:39:19,480
Speaker 2: That that haven't performed as well.

764
00:39:19,520 --> 00:39:24,200
Speaker 4: No have like completely crashed, and then like I'm too

765
00:39:24,280 --> 00:39:27,759
Speaker 4: lazy sometimes to just like take them out, and I

766
00:39:27,760 --> 00:39:29,800
Speaker 4: don't know, I think it's like some sort of weird

767
00:39:29,880 --> 00:39:33,279
Speaker 4: mental block for me. But yeah, I feel like if

768
00:39:33,360 --> 00:39:37,040
Speaker 4: I am a bit more diligent and actually like sat

769
00:39:37,160 --> 00:39:40,600
Speaker 4: down to do like a you know, a real investment plan,

770
00:39:40,920 --> 00:39:43,640
Speaker 4: like I could get better retens on my investments.

771
00:39:44,080 --> 00:39:47,400
Speaker 2: Yeah, fair, fair, I mean, I will agree that that

772
00:39:47,480 --> 00:39:49,640
Speaker 2: might be your worst money habit, but that's not the

773
00:39:49,640 --> 00:39:52,239
Speaker 2: worst money habit I've ever heard. In fact, it makes

774
00:39:52,280 --> 00:39:54,800
Speaker 2: me think that you're relatively good at money still, even

775
00:39:54,880 --> 00:39:57,439
Speaker 2: though you think that's not a good habit, which leads

776
00:39:57,440 --> 00:39:59,680
Speaker 2: me to my last question. At the start of the episode,

777
00:39:59,680 --> 00:40:02,520
Speaker 2: I are do what you would grade your own money habits?

778
00:40:02,560 --> 00:40:04,799
Speaker 2: And you told me it was a B. After we

779
00:40:04,880 --> 00:40:08,120
Speaker 2: have had a chat, do you still agree with a B?

780
00:40:08,560 --> 00:40:11,400
Speaker 2: And if so, that's cool? What would it take to

781
00:40:11,440 --> 00:40:12,279
Speaker 2: get you to an A?

782
00:40:14,480 --> 00:40:18,480
Speaker 4: I think after speaking with you, I'll upgrade it to

783
00:40:18,520 --> 00:40:19,200
Speaker 4: a B plus.

784
00:40:19,320 --> 00:40:20,239
Speaker 2: Okay, I love you.

785
00:40:20,440 --> 00:40:22,239
Speaker 4: Know you've fluffed me up a little bit.

786
00:40:23,440 --> 00:40:24,840
Speaker 2: Always that's my job.

787
00:40:26,520 --> 00:40:29,040
Speaker 4: So what would it take for me to get to

788
00:40:29,120 --> 00:40:31,799
Speaker 4: an A? I think, yeah, like just having a more

789
00:40:31,840 --> 00:40:37,000
Speaker 4: solid plan for investing. I think my exposure to sort

790
00:40:37,040 --> 00:40:40,399
Speaker 4: of investing when I was younger was always like from

791
00:40:40,480 --> 00:40:43,520
Speaker 4: property like real estate, right, Like that's what I feel

792
00:40:43,520 --> 00:40:48,680
Speaker 4: like most parents in that generation say, but it's not

793
00:40:49,040 --> 00:40:53,560
Speaker 4: as applicable for many people now and definitely not very

794
00:40:53,560 --> 00:40:57,000
Speaker 4: feasible for me to just you know, build a real

795
00:40:57,080 --> 00:40:57,880
Speaker 4: estate empire.

796
00:40:58,040 --> 00:41:01,160
Speaker 2: Like it's yeah, yeah, it's definitely not what it used

797
00:41:01,160 --> 00:41:01,360
Speaker 2: to be.

798
00:41:01,640 --> 00:41:04,880
Speaker 4: Yeah, so like looking into other forms of investments and

799
00:41:04,920 --> 00:41:07,440
Speaker 4: for a lot of people that shares, it's a lot

800
00:41:07,480 --> 00:41:11,720
Speaker 4: more accessible. And yeah, I feel like if I actually,

801
00:41:11,920 --> 00:41:14,239
Speaker 4: like you know, did more research into it, was more

802
00:41:14,280 --> 00:41:18,360
Speaker 4: diligent with it. Yeah, I could probably get myself to

803
00:41:18,440 --> 00:41:18,640
Speaker 4: an A.

804
00:41:19,360 --> 00:41:21,560
Speaker 2: I love that. I love that there's a plan though,

805
00:41:21,600 --> 00:41:24,600
Speaker 2: and you know what, it will take money, Diarist, it

806
00:41:24,680 --> 00:41:27,600
Speaker 2: has been an absolute pleasure chatting with you. I feel

807
00:41:27,600 --> 00:41:30,520
Speaker 2: like I've learned a lot. I have felt that you

808
00:41:30,880 --> 00:41:34,360
Speaker 2: have achieved so much, but you are still only a baby.

809
00:41:34,360 --> 00:41:36,280
Speaker 2: You're only twenty four and you've done all this stuff.

810
00:41:36,280 --> 00:41:39,520
Speaker 2: I'm just so impressed. But sadly, that is all we

811
00:41:39,560 --> 00:41:41,799
Speaker 2: have time for today. So thank you so much for

812
00:41:41,880 --> 00:41:45,040
Speaker 2: joining us. I'm just genuinely so grateful to share so

813
00:41:45,120 --> 00:41:48,600
Speaker 2: many diverse stories in our community, Like our community is

814
00:41:48,600 --> 00:41:50,560
Speaker 2: made up of so many beautiful human beings, and the

815
00:41:50,560 --> 00:41:51,840
Speaker 2: fact that you want to hang out with me and

816
00:41:51,840 --> 00:41:54,520
Speaker 2: share your story. It blows my mind. It's literally my

817
00:41:54,560 --> 00:41:55,399
Speaker 2: favorite thing ever.

818
00:41:55,560 --> 00:41:58,200
Speaker 4: So thank you, no, thank you so much for having

819
00:41:58,239 --> 00:42:01,480
Speaker 4: me feel so happy and yeah, grateful to be here.

820
00:42:01,560 --> 00:42:03,520
Speaker 2: I love that. Thank you and just.

821
00:42:03,520 --> 00:42:07,920
Speaker 4: Like contributing back to I guess like, yeah, like this community,

822
00:42:08,120 --> 00:42:10,520
Speaker 4: as you said, because it's really helped me a lot,

823
00:42:10,560 --> 00:42:14,160
Speaker 4: like your content and like the Facebook group and everything,

824
00:42:14,239 --> 00:42:16,480
Speaker 4: like I love going in there and feel like I've

825
00:42:16,560 --> 00:42:18,560
Speaker 4: learned a lot over the past few years.

826
00:42:18,600 --> 00:42:21,160
Speaker 2: Oh, I love this. Thank you so much. All Right,

827
00:42:21,280 --> 00:42:23,880
Speaker 2: have the best day, and I'm sure we'll cross paths

828
00:42:23,880 --> 00:42:32,920
Speaker 2: again very soon. The advice shared on She's on the

829
00:42:32,960 --> 00:42:35,719
Speaker 2: Money is general in nature and does not consider your

830
00:42:35,719 --> 00:42:40,200
Speaker 2: individual circumstances. She's on the Money exists purely for educational

831
00:42:40,200 --> 00:42:42,680
Speaker 2: purposes and should not be relied upon to make an

832
00:42:42,680 --> 00:42:46,000
Speaker 2: investment or financial decision. If you do choose to buy

833
00:42:46,000 --> 00:42:49,719
Speaker 2: a financial product, read the PDS TMD and obtain appropriate

834
00:42:49,760 --> 00:42:54,000
Speaker 2: financial advice tailored towards your needs. Victoria Divine and She's

835
00:42:54,040 --> 00:42:57,759
Speaker 2: on the Money are authorized representatives of Money showper Pty

836
00:42:58,000 --> 00:43:01,080
Speaker 2: Ltd ABN three two one n IS six four nine

837
00:43:01,200 --> 00:43:04,160
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838
00:43:04,239 --> 00:43:07,840
Speaker 2: five one two, eight, nine,