1 00:00:00,200 --> 00:00:19,440 Speaker 1: She's on the Money. She's on the Money. 2 00:00:23,200 --> 00:00:26,400 Speaker 2: Hello, and welcome to She's on the Money, the podcast 3 00:00:26,440 --> 00:00:29,960 Speaker 2: for millennials who want financial freedom. Welcome back to another 4 00:00:29,960 --> 00:00:32,720 Speaker 2: one of our shopback money Diary mondays, where we get 5 00:00:32,720 --> 00:00:35,440 Speaker 2: to chat to someone from our community and hear all 6 00:00:35,479 --> 00:00:38,640 Speaker 2: about them, their story, their journey, and all the juicy 7 00:00:38,680 --> 00:00:41,760 Speaker 2: details about how their finances got to be the way 8 00:00:41,800 --> 00:00:42,320 Speaker 2: that they are. 9 00:00:43,159 --> 00:00:45,400 Speaker 3: Oh my gosh, money diaries are literally my favorite, and 10 00:00:45,400 --> 00:00:46,760 Speaker 3: I feel like we should come up with a better 11 00:00:46,760 --> 00:00:48,720 Speaker 3: intro for this episode, Jess, because it was like, oh 12 00:00:48,720 --> 00:00:49,240 Speaker 3: my gosh. 13 00:00:49,120 --> 00:00:49,960 Speaker 4: These are my favorite. 14 00:00:50,000 --> 00:00:50,720 Speaker 3: Let's get into it. 15 00:00:50,760 --> 00:00:51,840 Speaker 4: You're gonna love this one. 16 00:00:51,880 --> 00:00:54,080 Speaker 3: But it's true because we love them all and reading 17 00:00:54,120 --> 00:00:57,560 Speaker 3: through them in our emails is so overwhelmingly special, Like 18 00:00:57,600 --> 00:00:59,200 Speaker 3: we read them all. Oh my gosh, how do you 19 00:00:59,280 --> 00:01:02,320 Speaker 3: even pick who gets an actual episode because there are 20 00:01:02,360 --> 00:01:04,720 Speaker 3: so many of them that come in. So, Jess, without 21 00:01:04,720 --> 00:01:06,640 Speaker 3: further ado, do you want to read out this week's 22 00:01:06,680 --> 00:01:09,720 Speaker 3: Money direst email for me and we will jump straight in? 23 00:01:10,200 --> 00:01:13,280 Speaker 2: I sure can so. This week Stara said, I'm twenty 24 00:01:13,319 --> 00:01:15,959 Speaker 2: six years old and have just purchased my first investment 25 00:01:16,000 --> 00:01:20,000 Speaker 2: property with instant equity, working three jobs, living out of 26 00:01:20,000 --> 00:01:23,040 Speaker 2: home and saving seventy percent of my income for eight 27 00:01:23,080 --> 00:01:26,480 Speaker 2: months while still building my ship portfolio and enjoying my 28 00:01:26,560 --> 00:01:27,720 Speaker 2: life the way I want to. 29 00:01:27,800 --> 00:01:29,600 Speaker 3: You are still a child, she said. 30 00:01:29,640 --> 00:01:32,040 Speaker 2: I also only earn a below average income at a 31 00:01:32,120 --> 00:01:35,520 Speaker 2: hiccups every step of the buying process. So I'm super 32 00:01:35,560 --> 00:01:38,200 Speaker 2: excited to hear all about that because it sounds like 33 00:01:38,240 --> 00:01:39,120 Speaker 2: she's done everything. 34 00:01:39,319 --> 00:01:41,560 Speaker 3: Oh my gosh, yes, who what? 35 00:01:41,600 --> 00:01:41,800 Speaker 5: Why? 36 00:01:41,880 --> 00:01:45,040 Speaker 3: When we're in how at the age of twenty six, 37 00:01:45,400 --> 00:01:49,280 Speaker 3: Crazy Money Diarist, you are joining us as always, Hello 38 00:01:49,320 --> 00:01:50,520 Speaker 3: and welcome to the show. 39 00:01:51,280 --> 00:01:52,800 Speaker 4: Thank you for having me. It's great. 40 00:01:53,560 --> 00:01:57,400 Speaker 3: Oh my gosh, what a story. Oh I want to 41 00:01:57,440 --> 00:01:59,240 Speaker 3: jump straight in and ask cow, but we're not going 42 00:01:59,320 --> 00:02:01,760 Speaker 3: to do that because that's not how this works. So 43 00:02:02,040 --> 00:02:04,840 Speaker 3: let's dive straight into the first question, which is what 44 00:02:05,000 --> 00:02:07,840 Speaker 3: is your attitude towards money? If we can't already. 45 00:02:07,520 --> 00:02:13,720 Speaker 5: Tell Jess, it's pretty strong, like I like to work 46 00:02:13,800 --> 00:02:16,640 Speaker 5: hard for what I want. I think it's quite a 47 00:02:16,680 --> 00:02:20,400 Speaker 5: positive attitude, and I want to have it positive. 48 00:02:20,480 --> 00:02:22,600 Speaker 4: I can't say I had a. 49 00:02:22,120 --> 00:02:27,320 Speaker 5: Strong money environment growing up, so I sort of had 50 00:02:27,360 --> 00:02:29,560 Speaker 5: to make sure that when I do grow up, it's 51 00:02:29,600 --> 00:02:30,520 Speaker 5: what I've earned. 52 00:02:30,560 --> 00:02:32,640 Speaker 4: And you know, I've worked hard for what I want. 53 00:02:33,280 --> 00:02:36,160 Speaker 3: I feel like that is very evident in what you've 54 00:02:36,200 --> 00:02:40,360 Speaker 3: achieved because of your email. Not to draw any conclusions, 55 00:02:40,360 --> 00:02:42,359 Speaker 3: but listening to your email that just just read out, 56 00:02:42,400 --> 00:02:45,160 Speaker 3: I was like, ah, yeah, all of that definitely is true. 57 00:02:45,600 --> 00:02:48,160 Speaker 3: So money, darist, what do you do for work and 58 00:02:48,200 --> 00:02:50,360 Speaker 3: how much money do you exactly earn? 59 00:02:50,520 --> 00:02:53,280 Speaker 4: I work three jobs at the moment. 60 00:02:54,040 --> 00:02:58,440 Speaker 5: My main role or career is an exercise physiologist, so 61 00:02:58,960 --> 00:03:04,639 Speaker 5: it's essentially using exercise to help and treat manage credit conditions. 62 00:03:05,000 --> 00:03:08,160 Speaker 5: One of my jobs is working with veterans inside a 63 00:03:08,240 --> 00:03:13,079 Speaker 5: JYP again them moving, yeah, which is quite interesting for them. 64 00:03:13,120 --> 00:03:16,440 Speaker 4: It's more the social and mental health that's really special. 65 00:03:17,000 --> 00:03:20,800 Speaker 5: Yeah, they are really special for me. And then another 66 00:03:20,960 --> 00:03:23,919 Speaker 5: job that I work is working with kids on the 67 00:03:24,000 --> 00:03:28,720 Speaker 5: NBAS so like neurosensory disorders and autism. 68 00:03:28,840 --> 00:03:31,600 Speaker 4: So that's also a very rewarding job as well. 69 00:03:32,120 --> 00:03:34,760 Speaker 5: And then I work part time at COHLS just to 70 00:03:34,760 --> 00:03:36,600 Speaker 5: make that extra bit of money on side. 71 00:03:36,720 --> 00:03:40,360 Speaker 3: Oh my gosh, you are literally a special human. And 72 00:03:40,400 --> 00:03:44,520 Speaker 3: how much money do you earn from each of these jobs? 73 00:03:44,600 --> 00:03:49,920 Speaker 5: So one job I earn fifteen hundred a fortnite. Then 74 00:03:50,080 --> 00:03:54,800 Speaker 5: there's six hundred a fortnite and seven fifty a fortnite, So. 75 00:03:56,560 --> 00:04:01,240 Speaker 3: Gosh, you are a hustler. I love just one of 76 00:04:01,280 --> 00:04:04,280 Speaker 3: those jobs often would be enough for someone, but you're like, Nope, 77 00:04:04,320 --> 00:04:06,040 Speaker 3: I'm going to work three and I am going to 78 00:04:06,080 --> 00:04:10,160 Speaker 3: smash it out of the park. So next question is, 79 00:04:10,200 --> 00:04:11,720 Speaker 3: and I feel like you might have achieved some of 80 00:04:11,720 --> 00:04:14,360 Speaker 3: these already, but what is your big money goal? 81 00:04:15,400 --> 00:04:19,560 Speaker 5: Eventually to sort of retire at a reasonable age, but 82 00:04:19,640 --> 00:04:23,080 Speaker 5: also to live life how I want to so however 83 00:04:23,120 --> 00:04:24,960 Speaker 5: I get there, that's pretty. 84 00:04:24,680 --> 00:04:25,960 Speaker 4: Much what I want to do. 85 00:04:26,600 --> 00:04:28,920 Speaker 3: What does that look like to you? So retire at 86 00:04:28,920 --> 00:04:31,240 Speaker 3: a reasonable age, what does that mean? Is that like 87 00:04:31,720 --> 00:04:34,159 Speaker 3: sixty five like the standard or what are we thinking? 88 00:04:34,480 --> 00:04:35,920 Speaker 4: Oh, definitely not sixty five. 89 00:04:36,040 --> 00:04:38,560 Speaker 5: I think I want to sort of retire about fifty 90 00:04:38,600 --> 00:04:41,239 Speaker 5: to fifty five so it can sort of still enjoy 91 00:04:41,320 --> 00:04:44,320 Speaker 5: the world and what I can experience and go and 92 00:04:44,440 --> 00:04:47,800 Speaker 5: enjoy without having to worry about money and still working. 93 00:04:47,880 --> 00:04:49,560 Speaker 5: I know my parents were a little bit older. My 94 00:04:50,279 --> 00:04:53,800 Speaker 5: pop was working till he was seventy five. So I'm like, 95 00:04:53,880 --> 00:04:57,479 Speaker 5: I don't really want to do that myself, so I'll 96 00:04:57,520 --> 00:05:00,360 Speaker 5: try and get there before that hope. 97 00:05:01,000 --> 00:05:02,920 Speaker 3: Oh my gosh, I want to ask so many questions 98 00:05:02,920 --> 00:05:07,080 Speaker 3: about that. But next question, do you currently have any 99 00:05:07,120 --> 00:05:09,120 Speaker 3: investments money diarist? 100 00:05:09,520 --> 00:05:10,360 Speaker 4: I do. 101 00:05:10,560 --> 00:05:14,719 Speaker 5: I have been with Rays for about two years now, 102 00:05:14,760 --> 00:05:18,440 Speaker 5: so that sort of got put on hold into progressing 103 00:05:18,600 --> 00:05:21,640 Speaker 5: my shares even more just because I had to save 104 00:05:21,720 --> 00:05:24,920 Speaker 5: money for a deposit. But in the next month or 105 00:05:24,960 --> 00:05:26,920 Speaker 5: so I will be going to the Big Bucks and 106 00:05:27,320 --> 00:05:30,200 Speaker 5: buying more shares outside of Rays. 107 00:05:30,480 --> 00:05:34,080 Speaker 3: Oh my gosh. Exciting. And when you say buy shares 108 00:05:34,120 --> 00:05:36,400 Speaker 3: out of raise, how have you thought about that? How 109 00:05:36,440 --> 00:05:38,760 Speaker 3: have you made a decision about where you might invest in? 110 00:05:38,800 --> 00:05:39,760 Speaker 3: What does that look like? 111 00:05:40,279 --> 00:05:43,000 Speaker 5: So they say that if you surround yourself with money 112 00:05:43,000 --> 00:05:46,359 Speaker 5: smart people, you become money smart. And I have a 113 00:05:46,400 --> 00:05:49,200 Speaker 5: few friends that are in cryptocurrency, and I have a 114 00:05:49,200 --> 00:05:53,080 Speaker 5: few friends that just buy shares through comsek and other 115 00:05:53,160 --> 00:05:57,640 Speaker 5: external platforms, and I want to sort of indulge in those. 116 00:05:57,720 --> 00:05:59,880 Speaker 5: So I've got friends at day trade and friends. 117 00:06:00,480 --> 00:06:03,159 Speaker 3: Oh my gosh, realty friends. 118 00:06:03,360 --> 00:06:06,279 Speaker 4: Yeah, very risky, but risky. 119 00:06:06,640 --> 00:06:10,800 Speaker 3: So next question is money dires. Do you have any debts? 120 00:06:10,880 --> 00:06:12,240 Speaker 3: If so, what are they? 121 00:06:12,839 --> 00:06:16,080 Speaker 5: Well, I have my head's debts, which is slowly going 122 00:06:16,120 --> 00:06:18,839 Speaker 5: down each year, which is nice. I don't put anything 123 00:06:18,880 --> 00:06:23,520 Speaker 5: extra towards that. I have also just got my first mortgage. 124 00:06:23,640 --> 00:06:24,960 Speaker 3: Check you out. 125 00:06:25,279 --> 00:06:27,560 Speaker 4: That is the only debt I have at the moment. 126 00:06:27,720 --> 00:06:29,920 Speaker 5: So I did have to pay off my car loan 127 00:06:29,960 --> 00:06:32,640 Speaker 5: and I paid that off in eighteen months out of 128 00:06:32,720 --> 00:06:36,120 Speaker 5: seven years, so that had to clear. 129 00:06:35,880 --> 00:06:38,360 Speaker 4: For the finance for the more you used to go through. 130 00:06:38,400 --> 00:06:40,000 Speaker 4: But I've met no debt at all. 131 00:06:40,080 --> 00:06:42,920 Speaker 3: Oh my gosh. And when you say mortgage, how much 132 00:06:42,960 --> 00:06:43,920 Speaker 3: of a mortgage. 133 00:06:43,520 --> 00:06:43,839 Speaker 5: Do you have? 134 00:06:43,920 --> 00:06:46,080 Speaker 3: When did you get it? And how are you dealing 135 00:06:46,120 --> 00:06:47,479 Speaker 3: with your first mortgage? My friend? 136 00:06:48,200 --> 00:06:50,640 Speaker 4: So we settled one week ago today. 137 00:06:51,360 --> 00:06:56,400 Speaker 3: Congratulations, that's so exciting, Thank you. 138 00:06:56,520 --> 00:06:57,760 Speaker 4: It's being stressful. 139 00:06:57,800 --> 00:07:00,719 Speaker 5: So I then picked up a three hundred four thousand 140 00:07:00,720 --> 00:07:01,240 Speaker 5: dollars loan. 141 00:07:02,600 --> 00:07:04,239 Speaker 4: So that's the mortgage for that one. 142 00:07:04,760 --> 00:07:07,159 Speaker 3: And how much does that cost you each week or month? 143 00:07:07,279 --> 00:07:08,680 Speaker 3: Or how are you paying for that? 144 00:07:09,840 --> 00:07:13,360 Speaker 5: So it will be done through an investment property, so 145 00:07:13,760 --> 00:07:16,200 Speaker 5: the rental income for that one will cover the mortgage 146 00:07:16,200 --> 00:07:19,720 Speaker 5: repayments for now. I do have to do some renovations 147 00:07:19,720 --> 00:07:21,640 Speaker 5: for the property, so once all of that's done, I'll 148 00:07:21,680 --> 00:07:24,720 Speaker 5: be able to get more more value out of the 149 00:07:24,720 --> 00:07:27,400 Speaker 5: property as well as more income. 150 00:07:27,040 --> 00:07:29,160 Speaker 3: From the rental, So how much are you leasing it 151 00:07:29,200 --> 00:07:29,600 Speaker 3: out for? 152 00:07:30,560 --> 00:07:32,880 Speaker 5: I am currently leasing it out for three hundred and 153 00:07:32,920 --> 00:07:36,520 Speaker 5: thirty five dollars a week, which covers base mortgage repayments. 154 00:07:36,840 --> 00:07:39,120 Speaker 3: Oh my gosh, so good. 155 00:07:39,280 --> 00:07:43,360 Speaker 5: Yeah, which the market rental is about three fifty to 156 00:07:43,560 --> 00:07:45,720 Speaker 5: four hundred. So I'm hoping I can bump it up 157 00:07:46,360 --> 00:07:49,080 Speaker 5: once all the renovations are done, which will put me 158 00:07:49,120 --> 00:07:49,960 Speaker 5: in a positive year. 159 00:07:50,160 --> 00:07:50,360 Speaker 4: Yeah. 160 00:07:50,400 --> 00:07:52,680 Speaker 3: Of course. And when you buy a property, obviously you'd 161 00:07:52,720 --> 00:07:54,400 Speaker 3: thought about that, and that was something that you were 162 00:07:54,440 --> 00:07:57,240 Speaker 3: planning on investing in, and it makes sense. Like, I'm 163 00:07:57,280 --> 00:07:59,480 Speaker 3: just impressed that straight off the bat you're like, nope, 164 00:07:59,520 --> 00:08:02,960 Speaker 3: the rent yield is going to cover my mortgage repayments. 165 00:08:03,360 --> 00:08:06,160 Speaker 3: That is epic. I'm so proud of you. Like, I 166 00:08:06,920 --> 00:08:10,680 Speaker 3: love hearing stories like that, because it's not often nowadays 167 00:08:10,720 --> 00:08:13,320 Speaker 3: that you can actually find lots of properties where that 168 00:08:13,440 --> 00:08:16,960 Speaker 3: does break even because the rental market is so crazy 169 00:08:17,000 --> 00:08:19,320 Speaker 3: at the moment that a lot of people aspire to 170 00:08:19,400 --> 00:08:22,000 Speaker 3: have that, but it's more often than not that you 171 00:08:22,200 --> 00:08:24,520 Speaker 3: just don't get that. And I guess to sidetrack a 172 00:08:24,520 --> 00:08:26,840 Speaker 3: little bit, not meant to be doing this, but it's 173 00:08:26,880 --> 00:08:30,680 Speaker 3: really exciting. When you were looking to purchase. Was that 174 00:08:30,760 --> 00:08:33,439 Speaker 3: something you took into consideration. You're like, Okay, this house 175 00:08:33,520 --> 00:08:35,800 Speaker 3: I know will rent for three thirty a week and 176 00:08:35,920 --> 00:08:38,000 Speaker 3: that's my plan and this will be my mortgage. And 177 00:08:38,360 --> 00:08:40,120 Speaker 3: how did you look into that? How did you know 178 00:08:40,200 --> 00:08:41,400 Speaker 3: what you were doing? My friend? 179 00:08:42,160 --> 00:08:42,920 Speaker 4: Very crazily. 180 00:08:43,840 --> 00:08:46,880 Speaker 5: It didn't really solidify what I was going to get 181 00:08:46,920 --> 00:08:51,560 Speaker 5: from the rent until about a month before that I settled, 182 00:08:52,559 --> 00:08:55,240 Speaker 5: and it was just keeping on top of the rental. 183 00:08:54,840 --> 00:08:57,480 Speaker 4: Market around the area, what kind of heavity I have? 184 00:08:58,240 --> 00:09:01,600 Speaker 5: So it was along by process, but also along like 185 00:09:01,720 --> 00:09:04,480 Speaker 5: figuring out the logistics of all of it. So yeah, 186 00:09:04,520 --> 00:09:06,640 Speaker 5: and a lot of help from my mum, who has 187 00:09:06,679 --> 00:09:07,800 Speaker 5: got some investment property. 188 00:09:07,880 --> 00:09:10,240 Speaker 4: So I looked in her and be like, what can 189 00:09:10,320 --> 00:09:10,800 Speaker 4: I do? Mom? 190 00:09:11,280 --> 00:09:13,480 Speaker 5: I'm sorry about the music in the background. I'm just 191 00:09:13,600 --> 00:09:16,120 Speaker 5: next to your child minding center, so the kids are playing. 192 00:09:16,240 --> 00:09:18,880 Speaker 3: Oh my gosh, No, no, we love the music. That 193 00:09:19,080 --> 00:09:21,720 Speaker 3: is fine, all right, money direst Next question, and I 194 00:09:21,760 --> 00:09:24,640 Speaker 3: have a sneaky suspicion because of how savvy you are. 195 00:09:24,720 --> 00:09:27,079 Speaker 3: The answer might be yes, but do you currently use 196 00:09:27,120 --> 00:09:27,720 Speaker 3: shop back? 197 00:09:28,559 --> 00:09:31,360 Speaker 4: I do, yes. I think we knew it. We were 198 00:09:31,400 --> 00:09:31,920 Speaker 4: onto you. 199 00:09:33,880 --> 00:09:36,480 Speaker 5: I've been using it for about eighteen months as well, 200 00:09:36,480 --> 00:09:38,440 Speaker 5: so pretty much my life changed about any months ago 201 00:09:38,559 --> 00:09:40,880 Speaker 5: thanks to COVID. So I had a reshuffle of all 202 00:09:40,920 --> 00:09:44,400 Speaker 5: my life goals found shot back through you guys, and 203 00:09:44,520 --> 00:09:46,240 Speaker 5: I have used it since I reckon. 204 00:09:46,280 --> 00:09:48,760 Speaker 4: I've earned about eight hundred dollars. 205 00:09:49,920 --> 00:09:50,120 Speaker 5: Yeah. 206 00:09:50,320 --> 00:09:52,760 Speaker 3: Yeah, have you pulled the cash out or is that 207 00:09:52,840 --> 00:09:54,120 Speaker 3: all just sitting in your account? 208 00:09:55,200 --> 00:09:58,520 Speaker 5: I strangely enough had to pull out five hundred dollars 209 00:09:58,600 --> 00:10:00,560 Speaker 5: just to get me over the line with a couple 210 00:10:00,600 --> 00:10:01,200 Speaker 5: of bills. 211 00:10:01,280 --> 00:10:02,839 Speaker 4: But how good's that though? 212 00:10:03,320 --> 00:10:05,520 Speaker 3: It's like a little baby emergency fund. 213 00:10:05,920 --> 00:10:06,840 Speaker 4: Yeah, yeah it was. 214 00:10:06,920 --> 00:10:08,960 Speaker 5: It's so goods every now and then I'm like, oh look, 215 00:10:08,960 --> 00:10:11,160 Speaker 5: I'll pull out thirty dollars because it's sitting there and 216 00:10:11,160 --> 00:10:11,920 Speaker 5: go buy lunch. 217 00:10:12,320 --> 00:10:14,400 Speaker 3: Oh my gosh, it's the brunch fund. 218 00:10:15,080 --> 00:10:17,360 Speaker 4: Yeah, I we'll use it on the side for that. 219 00:10:17,760 --> 00:10:20,280 Speaker 3: I love it. I love hearing what people use it for, 220 00:10:20,320 --> 00:10:22,600 Speaker 3: like you've used it as a little emergency fund or 221 00:10:22,760 --> 00:10:24,800 Speaker 3: pulling money out for brunch, and other people like, oh no, 222 00:10:24,920 --> 00:10:26,880 Speaker 3: when it gets up, I like invest that money. I'm like, 223 00:10:27,120 --> 00:10:30,280 Speaker 3: I love how everybody's making use of the money instead 224 00:10:30,320 --> 00:10:32,240 Speaker 3: of just like I think your bank up and being like, Oh, 225 00:10:32,280 --> 00:10:34,720 Speaker 3: it's sitting there, might get it out one day, Like no, 226 00:10:34,800 --> 00:10:36,640 Speaker 3: it's legit money, so cool. 227 00:10:37,040 --> 00:10:37,319 Speaker 4: Yeah. 228 00:10:37,360 --> 00:10:41,199 Speaker 3: Anyway, next question is, and I feel like you've got 229 00:10:41,200 --> 00:10:44,280 Speaker 3: some hot tips for us money diarist, what is your 230 00:10:44,320 --> 00:10:45,400 Speaker 3: best money habit? 231 00:10:46,760 --> 00:10:51,920 Speaker 4: Oh, definitely saving that was obvious. 232 00:10:50,840 --> 00:10:56,760 Speaker 5: Pretty strong on that one, and understanding, learning, researching different 233 00:10:56,760 --> 00:10:58,200 Speaker 5: ways I can sort of get something a little bit 234 00:10:58,280 --> 00:10:59,080 Speaker 5: cheaper to just say. 235 00:10:58,960 --> 00:11:02,760 Speaker 3: That you ex me that money diarist, Why are you 236 00:11:02,800 --> 00:11:03,480 Speaker 3: good at saving? 237 00:11:03,600 --> 00:11:03,720 Speaker 2: Like? 238 00:11:03,800 --> 00:11:06,080 Speaker 3: Why is that your best money habit? Like how can 239 00:11:06,120 --> 00:11:08,760 Speaker 3: we learn from you? Like tell us your secrets, because 240 00:11:08,760 --> 00:11:11,760 Speaker 3: I guarantee someone listening right now is like, how do 241 00:11:11,840 --> 00:11:13,200 Speaker 3: you be good at saving? Guys? 242 00:11:13,200 --> 00:11:17,920 Speaker 5: Suck? Growing up actually helped that. I came from a 243 00:11:17,920 --> 00:11:20,199 Speaker 5: working class family. We didn't always have a lot of money. 244 00:11:20,280 --> 00:11:25,120 Speaker 5: Dad always traveled for work, so when we wanted something, 245 00:11:25,360 --> 00:11:28,160 Speaker 5: we ended up getting it, but maybe after the face 246 00:11:28,200 --> 00:11:30,960 Speaker 5: had already passed through all my friends. So it's not 247 00:11:31,040 --> 00:11:33,400 Speaker 5: like we didn't get the toy that everybody else had, 248 00:11:33,720 --> 00:11:35,600 Speaker 5: but we had to save up to make sure that 249 00:11:35,640 --> 00:11:38,560 Speaker 5: we did get the toy. And that's definitely pushed through 250 00:11:38,840 --> 00:11:41,600 Speaker 5: into my adult life and being like Okay, if I 251 00:11:41,640 --> 00:11:43,480 Speaker 5: want that, I have to work hard and save the 252 00:11:43,520 --> 00:11:45,600 Speaker 5: extra money and then go out and buy it. 253 00:11:45,760 --> 00:11:47,760 Speaker 4: So that's definitely helped in my savings goals. 254 00:11:48,000 --> 00:11:50,520 Speaker 3: And has that been something that's stuck with you for 255 00:11:50,559 --> 00:11:52,640 Speaker 3: the whole time, because I know, if I look at 256 00:11:52,720 --> 00:11:56,920 Speaker 3: my money story personally, my dad was always talking about 257 00:11:56,920 --> 00:11:58,880 Speaker 3: being good at saving, and like he would hound it 258 00:11:58,920 --> 00:12:02,120 Speaker 3: into us and like literally he would always talk about 259 00:12:02,200 --> 00:12:05,439 Speaker 3: paying yourself first and all of these things. Now as 260 00:12:05,440 --> 00:12:08,640 Speaker 3: an adult stuck, but sixteen to maybe twenty three year 261 00:12:08,640 --> 00:12:10,960 Speaker 3: old Victoria, Oh, she wasn't having a bar of that. 262 00:12:11,280 --> 00:12:14,000 Speaker 3: So have you always just listened to that advice and 263 00:12:14,120 --> 00:12:15,440 Speaker 3: been a goodie two shoes? 264 00:12:16,679 --> 00:12:16,760 Speaker 4: No. 265 00:12:17,080 --> 00:12:19,680 Speaker 5: When I got my first job at fourteen and nine months, 266 00:12:19,840 --> 00:12:22,040 Speaker 5: my parents said, you can get a phone when you 267 00:12:22,080 --> 00:12:24,959 Speaker 5: start getting when you start earning money, and I was like, Okay, 268 00:12:25,040 --> 00:12:26,600 Speaker 5: I've got my job. A month later, I've got a 269 00:12:26,640 --> 00:12:29,560 Speaker 5: brand new phone. So it hasn't always been like that, 270 00:12:29,760 --> 00:12:33,120 Speaker 5: but definitely, being in the workfield, it's sort of reiterated 271 00:12:33,160 --> 00:12:35,080 Speaker 5: that saving is going. 272 00:12:34,840 --> 00:12:35,840 Speaker 4: To get what you want. 273 00:12:36,240 --> 00:12:38,000 Speaker 3: And I think a lot of us go through that 274 00:12:38,160 --> 00:12:43,079 Speaker 3: period of not actually fully respecting our money or ourselves 275 00:12:43,120 --> 00:12:46,160 Speaker 3: in the best possible way and then getting our quote 276 00:12:46,320 --> 00:12:49,640 Speaker 3: real job or having something in our lives that changes 277 00:12:49,679 --> 00:12:52,080 Speaker 3: our mindset and we go, oh, we probably should get 278 00:12:52,120 --> 00:12:54,880 Speaker 3: it together now. And it doesn't matter if that happens 279 00:12:54,920 --> 00:12:57,200 Speaker 3: at sixteen, or it happens at twenty six, or it 280 00:12:57,200 --> 00:13:00,120 Speaker 3: happens at fifty six. As long as it happens, we 281 00:13:00,160 --> 00:13:00,720 Speaker 3: don't care. 282 00:13:01,120 --> 00:13:02,959 Speaker 5: Well, Look, I definitely go off the rails for a 283 00:13:02,960 --> 00:13:05,160 Speaker 5: couple of weeks every now and then I'm like, I'll 284 00:13:05,160 --> 00:13:07,559 Speaker 5: just go spending. I've been doing doing the hard yards 285 00:13:07,559 --> 00:13:09,280 Speaker 5: for now. I just treat myself for a little bit. 286 00:13:09,320 --> 00:13:11,559 Speaker 5: So it definitely happens, and it's not always consistent. 287 00:13:11,880 --> 00:13:14,800 Speaker 3: We all do. And someone messaged me the other day, 288 00:13:14,840 --> 00:13:17,160 Speaker 3: So if this was you, love you, thank you. But 289 00:13:17,880 --> 00:13:19,920 Speaker 3: someone messaged me the other day mal like Victoria, I've 290 00:13:19,920 --> 00:13:21,720 Speaker 3: fallen off the rails, like I just don't know what 291 00:13:21,720 --> 00:13:24,360 Speaker 3: I'm doing. I'm spiraling out of control with my money. 292 00:13:24,520 --> 00:13:27,080 Speaker 3: We had a really good chat about it, but it's 293 00:13:27,120 --> 00:13:29,400 Speaker 3: really important to remember that it's a journey. It's not 294 00:13:29,480 --> 00:13:32,400 Speaker 3: actually a destination. Like being good at money is not 295 00:13:32,640 --> 00:13:34,920 Speaker 3: something that you are one hundred percent of the time, 296 00:13:35,200 --> 00:13:38,760 Speaker 3: because I don't think anyone can be. Because our emotions 297 00:13:38,800 --> 00:13:41,640 Speaker 3: are a lot stronger than our ability to save. So 298 00:13:41,720 --> 00:13:43,800 Speaker 3: sometimes we make decisions that we're like, ah, I wish 299 00:13:43,880 --> 00:13:46,920 Speaker 3: I didn't do that, but it doesn't matter. You just 300 00:13:46,960 --> 00:13:49,880 Speaker 3: get back on track and it's the journey. Let's enjoy it. 301 00:13:50,000 --> 00:13:52,400 Speaker 3: Let's enjoy the extra dinner or the extra bunch or 302 00:13:52,559 --> 00:13:54,280 Speaker 3: whatever it was, and go, you know what, I just 303 00:13:54,440 --> 00:13:56,880 Speaker 3: I can't do that next month. But that's okay. Let's 304 00:13:56,920 --> 00:13:59,920 Speaker 3: not beat ourselves up about it. Yeah, absolutely, onto the 305 00:14:00,120 --> 00:14:03,720 Speaker 3: next question, money Diarist in stock contrast to your good 306 00:14:03,760 --> 00:14:06,600 Speaker 3: money behaviors, what is your worst money habit? 307 00:14:07,000 --> 00:14:10,760 Speaker 5: It definitely goes back to savings, so I do spend 308 00:14:10,800 --> 00:14:13,319 Speaker 5: that extra time going oh how much is that? 309 00:14:13,360 --> 00:14:14,600 Speaker 4: Where can I get it cheaper? 310 00:14:14,760 --> 00:14:18,199 Speaker 5: So, although it's really good to say good money, it's 311 00:14:18,240 --> 00:14:20,280 Speaker 5: also a really bad habit because I do go out 312 00:14:20,320 --> 00:14:22,520 Speaker 5: for dinner and I'm like, oh, what's the cheapest option 313 00:14:22,600 --> 00:14:25,760 Speaker 5: that's suitable for me? And then it has changed a 314 00:14:25,840 --> 00:14:28,960 Speaker 5: little bit recently with the new relationship. 315 00:14:28,400 --> 00:14:30,920 Speaker 4: And they're sort of living life large and doing. 316 00:14:30,760 --> 00:14:32,640 Speaker 5: Whatever they want to do, and I'm like, okay, I 317 00:14:32,680 --> 00:14:35,840 Speaker 5: can feed off this, this is all right, And then 318 00:14:35,880 --> 00:14:37,360 Speaker 5: we go out for dinner, I'm like, oh, I can 319 00:14:37,440 --> 00:14:40,320 Speaker 5: have that now I don't have to think about it. 320 00:14:40,360 --> 00:14:44,440 Speaker 5: What three dollars extra on a mere is okay, that's 321 00:14:44,520 --> 00:14:48,280 Speaker 5: not going to sacrifice anywhere largely in my gross like 322 00:14:48,560 --> 00:14:49,480 Speaker 5: big goals. 323 00:14:49,760 --> 00:14:53,200 Speaker 3: I love that growth, I really really love that growth. 324 00:14:53,720 --> 00:14:56,480 Speaker 3: Money diarist. Before I get to deep dive into asking 325 00:14:56,520 --> 00:14:59,120 Speaker 3: you some more questions, especially about retirement, I know that's 326 00:14:59,160 --> 00:15:00,880 Speaker 3: not going to be sexy, but I promise we'll have 327 00:15:00,920 --> 00:15:03,760 Speaker 3: a good chat about it. If we forced you to 328 00:15:03,800 --> 00:15:08,080 Speaker 3: give yourself a money grade, what would grade your money habits? 329 00:15:08,720 --> 00:15:13,560 Speaker 4: I want to say like a B plus A maybe? 330 00:15:14,320 --> 00:15:17,440 Speaker 3: Oh yes, I love that conviction important. 331 00:15:19,240 --> 00:15:22,120 Speaker 5: It's very hard to sort of pinpoint where you do sit. 332 00:15:22,280 --> 00:15:25,440 Speaker 5: I'm very much all over the place in general. I 333 00:15:25,480 --> 00:15:27,720 Speaker 5: do have a direction that I want to go, but 334 00:15:27,800 --> 00:15:30,840 Speaker 5: I think my grades in school we're always a little 335 00:15:30,840 --> 00:15:32,440 Speaker 5: bit up and a little bit down. So I think 336 00:15:32,480 --> 00:15:35,400 Speaker 5: I sort of sit in the middle there. Giving myself 337 00:15:35,440 --> 00:15:37,440 Speaker 5: a B plus, I've got a direction. I know what 338 00:15:37,480 --> 00:15:39,320 Speaker 5: I want to do, but there are definitely things that 339 00:15:39,400 --> 00:15:43,200 Speaker 5: I would like to focus on and learn more about. 340 00:15:43,360 --> 00:15:45,920 Speaker 4: You can never stop learning and learning about money. 341 00:15:45,960 --> 00:15:50,280 Speaker 5: And getting to what my financial goal is is something 342 00:15:50,320 --> 00:15:51,360 Speaker 5: that's definitely workable. 343 00:15:51,640 --> 00:15:54,200 Speaker 3: Oh, I love that we have so many questions and 344 00:15:54,240 --> 00:15:55,920 Speaker 3: we are going to get to them in a very 345 00:15:55,920 --> 00:16:00,000 Speaker 3: hot minute. All right, diving straight back in money Dires. 346 00:16:00,120 --> 00:16:02,920 Speaker 3: You mentioned early on in our questions that you wanted 347 00:16:02,960 --> 00:16:05,480 Speaker 3: to retire early, and you said I want to retire 348 00:16:05,520 --> 00:16:07,520 Speaker 3: hopefully by fifty, so I can live my best life. 349 00:16:07,520 --> 00:16:11,120 Speaker 3: And that is genuinely so exciting. But it is not 350 00:16:11,200 --> 00:16:13,280 Speaker 3: common to have a twenty six year old turn around 351 00:16:13,320 --> 00:16:17,000 Speaker 3: to be like, I am planning for retirement already. Why 352 00:16:17,040 --> 00:16:19,280 Speaker 3: are you planning for retirement? How did this become a 353 00:16:19,320 --> 00:16:20,160 Speaker 3: priority for you? 354 00:16:21,720 --> 00:16:26,040 Speaker 5: Came of a priority when my godparents could retire at fifty 355 00:16:26,680 --> 00:16:31,400 Speaker 5: and then wanted to go on a twelve month two 356 00:16:31,480 --> 00:16:36,320 Speaker 5: year traveling overseas, exploring the world, getting to know what 357 00:16:36,680 --> 00:16:41,000 Speaker 5: everything does in different cultures, and that's something that aspired 358 00:16:41,040 --> 00:16:43,440 Speaker 5: to me. I've done a fair bit of travel myself already, 359 00:16:43,480 --> 00:16:45,480 Speaker 5: and it's just something that I want to keep doing. 360 00:16:45,560 --> 00:16:47,800 Speaker 5: And for the meantime, I went through a UNI for 361 00:16:47,840 --> 00:16:49,680 Speaker 5: five years, so there's a bit of a career that 362 00:16:49,720 --> 00:16:51,920 Speaker 5: I have to focus on for now, and I can 363 00:16:51,960 --> 00:16:55,560 Speaker 5: work hard for the most part, I then can enjoy work. 364 00:16:55,440 --> 00:16:59,200 Speaker 4: And living life doing what I want to do. When 365 00:16:59,240 --> 00:17:02,160 Speaker 4: I'm done with work in my prime. So that's why. 366 00:17:02,600 --> 00:17:05,040 Speaker 3: And how have you made that plan? Is that a 367 00:17:05,200 --> 00:17:07,720 Speaker 3: set in the stone plan? Is that something that's just 368 00:17:07,800 --> 00:17:12,000 Speaker 3: aspirational or what do you, from your perspective, need to 369 00:17:12,040 --> 00:17:14,800 Speaker 3: achieve to be able to retire at fifty? 370 00:17:15,200 --> 00:17:17,800 Speaker 5: The general goal is to retire at fifty. How I 371 00:17:17,880 --> 00:17:20,800 Speaker 5: get there is forever changing. I had it two years ago. 372 00:17:20,880 --> 00:17:22,600 Speaker 5: It was I'm going to do it this way, and 373 00:17:22,600 --> 00:17:25,000 Speaker 5: then now it's sort of like, oh, I'll go this 374 00:17:25,040 --> 00:17:27,760 Speaker 5: way a little bit more. Yeah, that's track a little bit. 375 00:17:27,800 --> 00:17:31,560 Speaker 5: So I'm learning to adjust, which is really good. So 376 00:17:31,680 --> 00:17:34,320 Speaker 5: figuring out the path how I get there it's sort 377 00:17:34,320 --> 00:17:37,920 Speaker 5: of generalized and focusing on the property market. That's a 378 00:17:37,960 --> 00:17:41,479 Speaker 5: little bit more harder to do, but I know becomes 379 00:17:41,480 --> 00:17:43,359 Speaker 5: a little bit more beneficial in the long run. 380 00:17:43,720 --> 00:17:47,760 Speaker 3: Money Diarist, I want to ask you about two different areas, 381 00:17:47,840 --> 00:17:49,040 Speaker 3: and I don't know which one I want to do. 382 00:17:49,080 --> 00:17:53,280 Speaker 3: It's property or relationships. But let's talk about relationships because 383 00:17:53,320 --> 00:17:56,439 Speaker 3: then it might lead into property. You are in a 384 00:17:56,520 --> 00:18:01,760 Speaker 3: newish relationship you mentioned before. How are you managing money 385 00:18:01,760 --> 00:18:05,920 Speaker 3: and money conversations in this brand new relationship pretty well? 386 00:18:05,960 --> 00:18:10,040 Speaker 5: I think where six months in Also, it's gone pretty quickly, 387 00:18:10,280 --> 00:18:12,920 Speaker 5: so it's sort of been like down to the business. 388 00:18:12,960 --> 00:18:16,320 Speaker 5: But it is a long distance relationship. We probably will 389 00:18:16,359 --> 00:18:20,560 Speaker 5: move in together in the next year or so, and 390 00:18:20,640 --> 00:18:22,760 Speaker 5: that's when we will really sit down and have the 391 00:18:22,800 --> 00:18:26,199 Speaker 5: money chats. He's already been really supportive in me buying 392 00:18:26,240 --> 00:18:29,040 Speaker 5: this property myself. I had the goal before he came 393 00:18:29,080 --> 00:18:31,800 Speaker 5: along and telling him about the story. 394 00:18:31,840 --> 00:18:33,879 Speaker 4: He's all about it. And I've told him about the 395 00:18:33,880 --> 00:18:36,640 Speaker 4: podcast that I listened to. H I love that. 396 00:18:37,320 --> 00:18:39,280 Speaker 5: And We've got a fair bit of a drive coming up, 397 00:18:39,320 --> 00:18:40,879 Speaker 5: so I'm like, all right, we're listening to Sheese on 398 00:18:40,960 --> 00:18:41,879 Speaker 5: the Money driving up. 399 00:18:42,960 --> 00:18:44,760 Speaker 3: This episode might be one of them. 400 00:18:45,440 --> 00:18:47,800 Speaker 4: Yeah, absolutely, it's going to be one of them. 401 00:18:48,520 --> 00:18:52,320 Speaker 5: So gosh, it's been a brief chat about money so far, 402 00:18:52,480 --> 00:18:55,160 Speaker 5: but we will delvedba once we sort of move in together. 403 00:18:55,200 --> 00:18:58,280 Speaker 5: And he's pretty adaptive, so I think it'll go pretty 404 00:18:58,280 --> 00:19:00,360 Speaker 5: well once we get to the knuckles it. 405 00:19:00,560 --> 00:19:03,640 Speaker 3: That's so exciting. The first six months of any new 406 00:19:03,680 --> 00:19:08,800 Speaker 3: relationship is always the most exciting part when it comes 407 00:19:08,840 --> 00:19:11,600 Speaker 3: to property. Obviously, you guys don't live together yet, so 408 00:19:11,720 --> 00:19:14,120 Speaker 3: that makes it quite clean cut in terms of your 409 00:19:14,160 --> 00:19:18,199 Speaker 3: assets versus his assets. However, I want to ask a 410 00:19:18,240 --> 00:19:20,639 Speaker 3: bit more perfect questions about your relationship. So maybe you 411 00:19:20,680 --> 00:19:22,359 Speaker 3: don't want to play this one in the car on 412 00:19:22,400 --> 00:19:25,120 Speaker 3: the way up, because he'll be like, oh, she's really 413 00:19:25,160 --> 00:19:28,480 Speaker 3: thinking about binding financial agreements, and if she's not, Victoria's 414 00:19:28,480 --> 00:19:31,880 Speaker 3: telling her to. So how are you going to potentially 415 00:19:32,240 --> 00:19:34,800 Speaker 3: think about or have you been thinking about how to 416 00:19:34,840 --> 00:19:37,440 Speaker 3: protect this house that you've just purchased and worked your 417 00:19:37,480 --> 00:19:40,600 Speaker 3: little butt off to own in the event that maybe 418 00:19:40,640 --> 00:19:42,919 Speaker 3: it doesn't work out, even though we really want it to. 419 00:19:43,400 --> 00:19:44,639 Speaker 4: I haven't really thought about it. 420 00:19:45,320 --> 00:19:48,240 Speaker 5: We are still fresh, so that kind of thing doesn't 421 00:19:48,359 --> 00:19:49,400 Speaker 5: really come No, of. 422 00:19:49,359 --> 00:19:51,840 Speaker 3: Course it doesn't, and no one wants to hear. Hey, 423 00:19:52,560 --> 00:19:54,960 Speaker 3: just it's Auntie Victoria. She wants to know if you've 424 00:19:54,960 --> 00:19:57,439 Speaker 3: thought about your relationship ending and how you're going to 425 00:19:57,440 --> 00:19:59,760 Speaker 3: protect yourself. No one wants that in the first six months. 426 00:20:00,040 --> 00:20:03,480 Speaker 3: But here I am being like, it's actually kind of important. 427 00:20:03,560 --> 00:20:06,920 Speaker 5: Yeah, absolutely, And it actually did cross my mind when 428 00:20:06,920 --> 00:20:10,120 Speaker 5: I settled. I'm like, wait, eventually we'll live together, then 429 00:20:10,400 --> 00:20:12,679 Speaker 5: everything sort of becomes combined. 430 00:20:12,880 --> 00:20:17,119 Speaker 4: So we did briefly think about it, but it didn't 431 00:20:17,119 --> 00:20:18,400 Speaker 4: delve in any deeper than that. 432 00:20:19,240 --> 00:20:21,000 Speaker 5: But it is something that's crossed my mind, and I 433 00:20:21,040 --> 00:20:24,440 Speaker 5: think we'll both be able to even if we were 434 00:20:24,480 --> 00:20:27,600 Speaker 5: to separate, it would be amicable because we communicate really well, 435 00:20:27,640 --> 00:20:29,840 Speaker 5: so we should be able to find even ground somewhere 436 00:20:29,840 --> 00:20:30,320 Speaker 5: along now. 437 00:20:30,359 --> 00:20:33,960 Speaker 3: Of course, And then segueing into property, my friend, you 438 00:20:34,040 --> 00:20:36,840 Speaker 3: are twenty six. You have just purchased your first property. 439 00:20:36,920 --> 00:20:39,760 Speaker 3: I want to know how, So when did you start 440 00:20:39,800 --> 00:20:42,119 Speaker 3: saving your deposit? How much was your deposit did you 441 00:20:42,119 --> 00:20:44,320 Speaker 3: pay LM? I like, how are we doing this? We 442 00:20:44,400 --> 00:20:46,640 Speaker 3: need to learn from you because there are so many 443 00:20:46,680 --> 00:20:49,000 Speaker 3: people in our community at the moment who are your 444 00:20:49,040 --> 00:20:52,040 Speaker 3: age feeling like, oh, it's never going to happen, and 445 00:20:52,160 --> 00:20:55,240 Speaker 3: watching the news and seeing that the property market over 446 00:20:55,280 --> 00:20:58,200 Speaker 3: the last twelve months has increased by twenty percent kind 447 00:20:58,240 --> 00:21:00,400 Speaker 3: of makes you sick in the bottom of your se stomach. 448 00:21:00,440 --> 00:21:02,840 Speaker 3: If you're on that journey to buying a property, how 449 00:21:02,840 --> 00:21:05,359 Speaker 3: have you done it? Please share as many tips and 450 00:21:05,359 --> 00:21:07,080 Speaker 3: tricks with us as possible. 451 00:21:07,400 --> 00:21:09,479 Speaker 4: I got very, very lucky. 452 00:21:09,680 --> 00:21:13,160 Speaker 5: So my stepdad inherited a unit from when his mum 453 00:21:13,320 --> 00:21:16,280 Speaker 5: passed away, and he didn't want to hold onto that, 454 00:21:16,440 --> 00:21:19,960 Speaker 5: and I said, the markt is crazy. Right now, if 455 00:21:20,000 --> 00:21:23,600 Speaker 5: I don't get in soon. I sort of don't really 456 00:21:23,640 --> 00:21:25,520 Speaker 5: have an option and need to sort of rethink how 457 00:21:25,520 --> 00:21:28,040 Speaker 5: I'm going to do it. I already had a strong 458 00:21:28,160 --> 00:21:31,640 Speaker 5: savings behind me, and then he was like. 459 00:21:31,920 --> 00:21:34,840 Speaker 4: Sure, no worries, we can sell it to you. That's fine. 460 00:21:35,040 --> 00:21:38,199 Speaker 3: So money, Doris, You've bought a property from a family member, 461 00:21:38,400 --> 00:21:41,119 Speaker 3: but you'd saved before. How much had you saved in 462 00:21:41,200 --> 00:21:42,480 Speaker 3: terms of deposit for that? 463 00:21:43,000 --> 00:21:46,440 Speaker 5: In terms of the deposit saving for the unit specifically, 464 00:21:46,560 --> 00:21:49,399 Speaker 5: I think I only had about ten thousand dollars on 465 00:21:49,440 --> 00:21:55,080 Speaker 5: the side. I did have a long term deposit sitting there. 466 00:21:55,240 --> 00:22:00,040 Speaker 5: I actually completely forgot about for two years. 467 00:21:58,560 --> 00:22:02,880 Speaker 3: So mucha being in that position getting cyber term deposit. 468 00:22:04,560 --> 00:22:07,680 Speaker 5: So then when I got that back, I split half 469 00:22:07,720 --> 00:22:10,520 Speaker 5: of the term deposit into my car loan and then 470 00:22:10,600 --> 00:22:15,040 Speaker 5: half of the deposit or my long term deposit back into. 471 00:22:14,840 --> 00:22:15,960 Speaker 4: My savings deposit. 472 00:22:16,440 --> 00:22:19,200 Speaker 5: Then, speaking to my stepdad about the unit, I was like, Okay, 473 00:22:19,400 --> 00:22:21,120 Speaker 5: what do I need for this? Then I got onto 474 00:22:21,119 --> 00:22:23,520 Speaker 5: a broker, like how much money do I need? And 475 00:22:23,520 --> 00:22:25,919 Speaker 5: I'm like, you need this much and this much. They 476 00:22:26,000 --> 00:22:27,879 Speaker 5: ended up saying that I needed to save an extra 477 00:22:27,960 --> 00:22:33,239 Speaker 5: sixty grand and I was like that's so far away, like, 478 00:22:33,400 --> 00:22:35,480 Speaker 5: I don't know how I'm going to do that. So 479 00:22:35,640 --> 00:22:40,359 Speaker 5: speaking with my friends who's pretty money illiterate or literate, sorry, 480 00:22:40,720 --> 00:22:43,880 Speaker 5: he was able to go, Okay, you're going to potentially 481 00:22:43,880 --> 00:22:44,560 Speaker 5: earn this. 482 00:22:44,560 --> 00:22:47,000 Speaker 4: This is how much you can save. I'm like, okay. 483 00:22:47,040 --> 00:22:49,240 Speaker 5: So we trialed it for about a month or two 484 00:22:49,359 --> 00:22:51,760 Speaker 5: and I was able to save just as much. I 485 00:22:51,800 --> 00:22:55,360 Speaker 5: then picked up more hours to save money, and then 486 00:22:55,480 --> 00:22:59,520 Speaker 5: I'm working six or five days a week and long days, 487 00:23:00,119 --> 00:23:03,359 Speaker 5: so able to save lots of money. I ended up 488 00:23:03,400 --> 00:23:07,200 Speaker 5: living on about six hundred dollars a fortnight, So out 489 00:23:07,200 --> 00:23:10,359 Speaker 5: of all of that money, that's pretty good. Six hundred 490 00:23:10,400 --> 00:23:13,560 Speaker 5: dollars a fortnight, and that covered my rent, my bills, 491 00:23:13,880 --> 00:23:17,640 Speaker 5: all my groceries, any other extras that I needed for petrol. 492 00:23:18,280 --> 00:23:22,159 Speaker 5: So I didn't really have much leftover to sort of 493 00:23:22,240 --> 00:23:25,399 Speaker 5: live with. But the saving side of it definitely helped 494 00:23:25,440 --> 00:23:26,560 Speaker 5: build up the deposit. 495 00:23:26,760 --> 00:23:30,240 Speaker 3: So what deposit did you get to? In the end, I. 496 00:23:30,040 --> 00:23:33,800 Speaker 5: Ended up saving myself sixty two thousand dollars. 497 00:23:34,000 --> 00:23:36,520 Speaker 3: What here I am thinking and this is not a 498 00:23:36,560 --> 00:23:39,119 Speaker 3: good mind frame, and I know everybody else was thinking 499 00:23:39,119 --> 00:23:41,040 Speaker 3: it as well, like Okay, she's buying it from a 500 00:23:41,040 --> 00:23:43,479 Speaker 3: family member. Maybe they gave her some cash or like, 501 00:23:43,760 --> 00:23:47,439 Speaker 3: is that the plant? No, you saved it yourself. Yeah, yes, queen, 502 00:23:47,640 --> 00:23:48,320 Speaker 3: I love this. 503 00:23:48,640 --> 00:23:52,479 Speaker 5: I started with about eighteen thousand dollars in my account 504 00:23:52,480 --> 00:23:54,320 Speaker 5: already and then I said, Brian, I'm going to buy 505 00:23:54,320 --> 00:23:58,960 Speaker 5: this house. And then in about nine or ten months 506 00:23:59,040 --> 00:24:01,320 Speaker 5: I was able to stay that much money. So it 507 00:24:01,320 --> 00:24:02,840 Speaker 5: was an extra fifty grand or so. 508 00:24:03,080 --> 00:24:04,640 Speaker 3: It was a massive hustle though. 509 00:24:04,760 --> 00:24:08,439 Speaker 4: Hey, yeah, it was stressful. And then it got to 510 00:24:09,480 --> 00:24:10,000 Speaker 4: the broker. 511 00:24:10,080 --> 00:24:12,240 Speaker 5: I was like, okay, we just need that little buffer, 512 00:24:12,440 --> 00:24:13,520 Speaker 5: and had had a. 513 00:24:13,440 --> 00:24:14,800 Speaker 4: Brief chat with my partner. 514 00:24:15,119 --> 00:24:17,439 Speaker 5: It was still really new and I still am not 515 00:24:17,560 --> 00:24:20,120 Speaker 5: comfortable with it because it is borrowing money and I'm 516 00:24:20,119 --> 00:24:23,359 Speaker 5: not overly confident in that. And he was like, no, 517 00:24:23,880 --> 00:24:26,280 Speaker 5: I've got a tax return that's nice and healthy. It's 518 00:24:26,320 --> 00:24:28,960 Speaker 5: not technically my money. I haven't seen it yet. Here 519 00:24:29,000 --> 00:24:31,679 Speaker 5: you go, and gifted me that last little part to 520 00:24:31,760 --> 00:24:32,240 Speaker 5: make up. 521 00:24:32,119 --> 00:24:35,640 Speaker 4: The full deposit. Money win, get a hundred cent of money. 522 00:24:35,640 --> 00:24:35,800 Speaker 2: Win. 523 00:24:35,920 --> 00:24:39,159 Speaker 5: But yeah, so able to make the full seventy thousand 524 00:24:39,160 --> 00:24:43,479 Speaker 5: dollars dollar deposit, which upon the settlement, I am I 525 00:24:43,520 --> 00:24:45,640 Speaker 5: only needed sixty four, which was really nice. 526 00:24:45,720 --> 00:24:47,679 Speaker 3: Oh my gosh, you can just take pay back and 527 00:24:47,880 --> 00:24:52,240 Speaker 3: be really comfortable. I love that. Yeah, it's interesting understanding 528 00:24:52,240 --> 00:24:55,959 Speaker 3: people's money journeys around property because to say, okay, well 529 00:24:56,040 --> 00:24:58,080 Speaker 3: I started with ten grand then you know, I had 530 00:24:58,080 --> 00:25:00,400 Speaker 3: a term deposit, so that took me up to age. 531 00:25:00,840 --> 00:25:04,600 Speaker 3: I assumed that in that period of time maybe there 532 00:25:04,640 --> 00:25:06,760 Speaker 3: was like something else going on, or you came into 533 00:25:06,840 --> 00:25:10,400 Speaker 3: an inheritance. But when you mentioned the inheritance of the property, 534 00:25:10,400 --> 00:25:12,080 Speaker 3: it was just because someone wanted to sell it, not 535 00:25:12,119 --> 00:25:14,840 Speaker 3: because the inheritance quote benefited you. It was just nice 536 00:25:14,840 --> 00:25:18,080 Speaker 3: because you didn't have to go through that formal property 537 00:25:18,080 --> 00:25:20,840 Speaker 3: purchasing journey of like auctions and going and looking. You 538 00:25:20,880 --> 00:25:23,520 Speaker 3: were just like, no, that works, and that's really lucky. 539 00:25:23,520 --> 00:25:25,800 Speaker 3: But like, it's not that lucky, my friend. It sounds 540 00:25:25,800 --> 00:25:28,400 Speaker 3: like you actually worked your butt off to get where 541 00:25:28,440 --> 00:25:29,159 Speaker 3: you are today. 542 00:25:29,320 --> 00:25:31,840 Speaker 5: Yeah, we had a strict timeline and we bet it 543 00:25:31,880 --> 00:25:33,640 Speaker 5: by two months, which was really cool. 544 00:25:33,800 --> 00:25:37,600 Speaker 4: Yay. Yeah, but the property does need a lot of work. 545 00:25:37,760 --> 00:25:41,080 Speaker 5: I need to do some major renovations and to get 546 00:25:41,080 --> 00:25:43,359 Speaker 5: it even up to sort of a living standard. 547 00:25:43,960 --> 00:25:46,280 Speaker 4: But in saying that, it's yeah, it's. 548 00:25:46,160 --> 00:25:48,480 Speaker 5: Been a long well, lend of a time, and even 549 00:25:48,480 --> 00:25:50,040 Speaker 5: the broker I was like, yeah, that was quite an 550 00:25:50,080 --> 00:25:52,400 Speaker 5: adventure to get there, but yeah. 551 00:25:52,240 --> 00:25:54,760 Speaker 3: But you did it, and are you proud of yourself? 552 00:25:54,840 --> 00:25:58,240 Speaker 5: Yeah? Yeah, it's still quite overwhelming, but definitely the support 553 00:25:58,280 --> 00:26:01,120 Speaker 5: around me from my family and my friends, it's been 554 00:26:01,200 --> 00:26:04,119 Speaker 5: really like heartwarming to know that this is such a 555 00:26:04,160 --> 00:26:04,920 Speaker 5: big achievement. 556 00:26:05,119 --> 00:26:08,159 Speaker 4: So yeah, it is. It's nice to feel for out 557 00:26:08,240 --> 00:26:09,200 Speaker 4: sometimes and. 558 00:26:09,119 --> 00:26:13,040 Speaker 3: You definitely should Yes, exactly, you should be so proud. 559 00:26:13,119 --> 00:26:15,400 Speaker 2: I'm just so impressed by everything that you do. You've 560 00:26:15,440 --> 00:26:18,760 Speaker 2: done an incredible job. As someone who's like going through 561 00:26:18,920 --> 00:26:21,280 Speaker 2: or starting to go through that process right now, it's 562 00:26:21,520 --> 00:26:24,760 Speaker 2: very inspirational to her how hard you hustled and how 563 00:26:24,840 --> 00:26:26,360 Speaker 2: much you were able to do in such a short 564 00:26:26,400 --> 00:26:27,119 Speaker 2: period of time. 565 00:26:27,400 --> 00:26:30,679 Speaker 5: Yeah, it's been full on, Like even down to the 566 00:26:30,720 --> 00:26:33,120 Speaker 5: whole credit report. I had a default on there which 567 00:26:33,280 --> 00:26:37,120 Speaker 5: was insane, so trying to deal with that and then 568 00:26:37,440 --> 00:26:41,320 Speaker 5: saving money and driving so much and working so much. 569 00:26:41,359 --> 00:26:44,399 Speaker 3: I was like, but it sounds like the thing that 570 00:26:44,480 --> 00:26:47,200 Speaker 3: got you there was actually your tenacity, and you're putting 571 00:26:47,200 --> 00:26:49,200 Speaker 3: your head down and going, no, I'm going to make 572 00:26:49,200 --> 00:26:50,960 Speaker 3: it happen. I'm going to work my butt off. It 573 00:26:51,000 --> 00:26:52,800 Speaker 3: doesn't matter if I have to have three jobs. This 574 00:26:52,920 --> 00:26:55,520 Speaker 3: is my goal and we are achieving it. Whether it 575 00:26:55,560 --> 00:26:58,040 Speaker 3: is rain halo shine. I love that, and I love 576 00:26:58,119 --> 00:27:00,199 Speaker 3: that you've wanted to share that story with us, So 577 00:27:00,280 --> 00:27:01,399 Speaker 3: thank you so much. 578 00:27:02,080 --> 00:27:02,679 Speaker 4: You're welcome. 579 00:27:02,720 --> 00:27:04,439 Speaker 5: It's been a pleasure to talk to you and then 580 00:27:04,520 --> 00:27:06,280 Speaker 5: talk to you about my story as well. 581 00:27:06,400 --> 00:27:10,280 Speaker 3: Again, thank you so much for joining us. But as always, guys, 582 00:27:10,320 --> 00:27:13,000 Speaker 3: that is all we have time for today. So just 583 00:27:13,040 --> 00:27:15,120 Speaker 3: before we head off, we'd like to acknowledge and pay 584 00:27:15,160 --> 00:27:18,800 Speaker 3: respect to Australia's Aboriginal and Torri Straight islander peoples. They're 585 00:27:18,800 --> 00:27:21,720 Speaker 3: the traditional custodians of the lands, the waterways and the 586 00:27:21,760 --> 00:27:25,320 Speaker 3: skies all across Australia. We thank you for sharing and 587 00:27:25,400 --> 00:27:27,480 Speaker 3: for caring for the land on which we are able 588 00:27:27,520 --> 00:27:30,479 Speaker 3: to learn. We pay respects to elders past and present, 589 00:27:30,560 --> 00:27:32,719 Speaker 3: and we share our friendship and our kindness. 590 00:27:32,880 --> 00:27:35,280 Speaker 2: The advice shared on She's on the Money is generally 591 00:27:35,359 --> 00:27:38,960 Speaker 2: nature and does not consider your individual circumstances. She's on 592 00:27:39,000 --> 00:27:41,879 Speaker 2: the Money exists purely for educational purposes and should not 593 00:27:41,920 --> 00:27:44,720 Speaker 2: be relied upon to make an investment or a financial decision, 594 00:27:45,040 --> 00:27:48,399 Speaker 2: And we promise Victoria Divine is an authorized representative of 595 00:27:48,480 --> 00:27:52,920 Speaker 2: Australia Pacific Funds Management Proprietary Limited ABN three four one 596 00:27:52,960 --> 00:27:55,920 Speaker 2: three two four six three two five seven AFSL three 597 00:27:55,960 --> 00:27:57,320 Speaker 2: three nine one five one. 598 00:27:57,480 --> 00:28:01,440 Speaker 3: See you next week, guys, b