Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud or
Speaker 1: the Order Kerni Whaltbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 2: Hello, and welcome to She's on the Money, the podcast
Speaker 2: that it lets you be pervy on other people's money
Speaker 2: habits for educational purposes of course. Welcome back to another
Speaker 2: one of our money diaries where I get the absolute
Speaker 2: pleasure of talking to one of our She's on the
Speaker 2: Money community members all about their money story and journey.
Speaker 2: Let's jump straight into it, because this week I got
Speaker 2: an email and it sounded exactly like this, Dear, She's
Speaker 2: on the Money. Money has been a journey. We've had
Speaker 2: some wins, some losses and a whole lot of learning
Speaker 2: along the way. I've felt multiple streams of income, taken
Speaker 2: risks on businesses, some that worked, some that didn't, and
Speaker 2: climbed the ranks. In my career, property has been a
Speaker 2: big part of our story, buying, selling, renovating, and navigating
Speaker 2: the unexpected. Now we're at a crossroad, a potential new investment,
Speaker 2: big decisions ahead, and the usual mix of excitement and uncertainty.
Speaker 2: It's never a straight path, but here we go again,
Speaker 2: money diarist, You've left a lot to the imagination. Like,
Speaker 2: I just have so many questions, but this is so exciting,
Speaker 2: Like you can't just I have multiple streams of income.
Speaker 2: I'm like what what income?
Speaker 4: Like?
Speaker 2: When? Why? How? Property? You're doing it again? Doing what again?
Speaker 2: Like I just have a lot of questions. Welcome to
Speaker 2: the show.
Speaker 4: Thank you for having me.
Speaker 2: How fun? All right, let's dive straight in. The first
Speaker 2: question I ask all of our money diarists is if
Speaker 2: I could ask you to give yourself a money grade
Speaker 2: from A three to air for what would that grade be?
Speaker 4: I think probably I'm going to say it BNUS.
Speaker 2: Okay, let's learn more about that. Can you now dive
Speaker 2: in and tell me a bit more about your money story,
Speaker 2: because I when I read this, I was like, she's
Speaker 2: got to be kidding. I need so much more information
Speaker 2: right now.
Speaker 4: Sure, So, I guess growing up my parents were business owners,
Speaker 4: either like running businesses or owning businesses, So that's sort
Speaker 4: of what I've always known growing up. My mom is
Speaker 4: one of six, and so we have a lot of cousins,
Speaker 4: and my sister and I are the first two of
Speaker 4: the cousins to get a church education. So that was
Speaker 4: something that was I'm not going to say forced upon me,
Speaker 4: but my mum really stressed the importance of getting an
Speaker 4: education and being able to earn the best income possible.
Speaker 4: And I'm so grateful because in my first year of UNI,
Speaker 4: I really wanted to drop out, and she said, no,
Speaker 4: I think you really need to give it more than
Speaker 4: six weeks.
Speaker 2: That's fair Mom.
Speaker 4: Yeah, thanks, Mom, always with the advice. So yeah, when
Speaker 4: I got my degree, started working in it soon after,
Speaker 4: and then I've been working in it since I was
Speaker 4: in twenty twelve, so it's been for about thirteen years now.
Speaker 4: Along the way that my husband in around there, so
Speaker 4: in twenty fourteen, so I was pretty new to my
Speaker 4: career when we.
Speaker 2: Met oh, did you meet through your career?
Speaker 4: No, no, we Actually I've heard you say this before.
Speaker 4: He and I met on Tinder.
Speaker 2: Yep, same same same queen where all the good men
Speaker 2: used to be.
Speaker 4: I mean, I used to be so embarous about that.
Speaker 2: Oh oh my god, it's same. I told my parents
Speaker 2: when I was finally bringing same time. I was like,
Speaker 2: we met three friends. I'm friends with the internet, right, and.
Speaker 4: I know, so like, oh, we were introduced by a
Speaker 4: friend of a friendly because I don't want to say
Speaker 4: were met on Tinder, because I.
Speaker 2: Was like, oh yeah, And you know what, it got
Speaker 2: to a point where I hadn't told a lot of
Speaker 2: people and then people stopped asking, right, They're like, oh,
Speaker 2: Stephen Victoria, no worries. I ended up telling my parents.
Speaker 2: But then it comes to my wedding and I had
Speaker 2: told the celebrant that we met on Tinder and she
Speaker 2: makes the comment in her like introduction of the two
Speaker 2: of us, and she was like it was the right
Speaker 2: swipe or something, and I was like, oh, no, you
Speaker 2: did not, but that was really funny. Anyway, that's all right.
Speaker 2: I'd been talking about it on the internet for ages.
Speaker 4: Okay, true, So yeah, he's a tradee and when we met,
Speaker 4: he was working five layout so he used to do
Speaker 4: four weeks on one week off, which was that's a lot,
Speaker 4: so difficult when you're in a new relationship. And when
Speaker 4: we met, he was looking for a house to buy
Speaker 4: because he had like all this excess income and needed
Speaker 4: to do something with it. And I certainly wasn't in
Speaker 4: the same sport.
Speaker 2: Yeah you're like, that's unrelatable, but sure, oh.
Speaker 4: Yeah, I was meanning much much less. But we after
Speaker 4: about eight months together, we decided we would buy the
Speaker 4: house together, which is looking back, sounds so crazy, but
Speaker 4: you know, if you know, you know.
Speaker 2: Look, I'm the same. We moved in together at like
Speaker 2: the twelve month mark, and I was like, well, yeah, whatever,
Speaker 2: it is what it is.
Speaker 4: So he had obviously significantly more money stage than me,
Speaker 4: but we decided to buy it together because I was
Speaker 4: just I'm sure how we were going to navigate. Am
Speaker 4: I going to live with you? Will I pay you rent?
Speaker 4: Who pays what? And it just seemed way easier to
Speaker 4: just put our finances together. And I said to him,
Speaker 4: you know, our borrowing capacity is going to be much
Speaker 4: higher if we do it together. So we decided to
Speaker 4: do it together. Not only that, when we put an
Speaker 4: offer in the house that we bought, he was away
Speaker 4: on a four week swing, so he hadn't actually seen
Speaker 4: the house when we contracted it.
Speaker 2: Oh my goodness.
Speaker 4: So the Ultimate trusted me to be like, you know,
Speaker 4: if you think this is it, then let's do it.
Speaker 4: So we bought that house. That's so stressful, so stressful
Speaker 4: for us, both because there's a lot of pressure on me.
Speaker 2: I did that with a rental property once with my
Speaker 2: now husband, and the anxiety I felt over a rental property,
Speaker 2: Like I cannot imagine how stressed you were. You're like, yeah,
Speaker 2: so I tipped your life savings over here.
Speaker 4: You're right with this, that's okay.
Speaker 2: If you don't like it, bad luck.
Speaker 4: Yeah, it's going to be awkward. But anyway, we settled
Speaker 4: when we moved in, and we probably lived there for
Speaker 4: I want to say shore and a half years before
Speaker 4: we kind of thought this isn't quite right in terms
Speaker 4: of sometimes you just don't know until you live in
Speaker 4: a property whether it's right for you or not.
Speaker 2: Yeah, one hundred percent.
Speaker 4: And it just wasn't quite right. A great house, good bodes,
Speaker 4: but just not quite right for what we wanted. So
Speaker 4: we went overseas on a troop and got engaged.
Speaker 2: That cute. A tender love story.
Speaker 4: Oh, the tender love story. When we got back, we
Speaker 4: found another house just around the corner from our current house,
Speaker 4: and I just went and looked at it on a
Speaker 4: whim at an open home and I fell in love
Speaker 4: and I had to persuade them fiance that it was
Speaker 4: the right house for us. I finally got hit over
Speaker 4: the line, but it was significantly more expensive, so we
Speaker 4: had to do a simultaneous settlement so that we had
Speaker 4: the funds to pour into the next property. And then
Speaker 4: we found a tenant for our first property and moved
Speaker 4: into the second property.
Speaker 2: How cool.
Speaker 4: It was really cool, And I was like, well, I
Speaker 4: can't believe we just found my dream house at like
Speaker 4: twenty five years old.
Speaker 2: How good.
Speaker 4: It was quite a big home, and we intended on
Speaker 4: filling it with children, and then we sort of ran
Speaker 4: into some unforeseen fertility issues where that just wasn't really happening,
Speaker 4: and being in the house sort of reminded me of
Speaker 4: what wasn't happening.
Speaker 2: So oh, that's so stressful and so shitty, Like you
Speaker 2: don't need your home to be that reminder I know, and.
Speaker 4: It was just like, oh, this is the time that
Speaker 4: we had played family, but now we might not get one.
Speaker 4: Also it was like significantly more expensive. And sorry I've
Speaker 4: missed a step. In a months that the tenants that
Speaker 4: were living in our first property trashed it.
Speaker 2: Ah, and you're going through all this stuff and like fertility,
Speaker 2: we should talk about it more. But like when you're
Speaker 2: going through this, you wouldn't have been telling people. It
Speaker 2: would have been like this secret struggle. Like and then
Speaker 2: someone trashes your property, You're probably like, I'm going to
Speaker 2: trash you, like that's right.
Speaker 4: And ultimately I had to go to Qecat, which is
Speaker 4: the Queensland to get them out of the property because
Speaker 4: they refused to leave.
Speaker 1: Jeez, Luise, they stopped paying rent, they trashed the property.
Speaker 4: So when they finally got out, it was like a
Speaker 4: big money here. Really, Oh my god.
Speaker 2: I actually just can't fathom how people do that, Like
Speaker 2: I just it is unimaginable to me. Like I'm the
Speaker 2: type of person who goes around my hotel room as
Speaker 2: I'm leaving and picks up the towels because I'm so
Speaker 2: worried that they're going to be Like she left the
Speaker 2: towels on me ground and the idea that you trash
Speaker 2: someone's house like, absolutely not.
Speaker 4: I know. So at that time, we're having like quite
Speaker 4: a few issues, and then I just said to my husband,
Speaker 4: let's just get rid of this house. If we're not
Speaker 4: going to have kids, let's go traveling. So we're going
Speaker 4: to sell our house. We're going to sell our rental
Speaker 4: or whatever money was left, go on a trip. Enter
Speaker 4: COVID nineteen. We're not going anywhere.
Speaker 2: You stuck at home.
Speaker 4: We're stuck at home in this house that we don't
Speaker 4: want to be in anymore. So anyway, I was like,
Speaker 4: let's go ahead, whatever someone this house is perfect for someone,
Speaker 4: let's sell it. And we ended up selling it. I
Speaker 4: did the whole show. We didn't get a real estate agent.
Speaker 4: I did all the open homes, I did the listing.
Speaker 2: Oh my god, what was that like?
Speaker 4: It was kind of chaotic. Fuck, even when I do
Speaker 4: for work, I was okay with it.
Speaker 2: Yeah, okay, but.
Speaker 4: Yeah, it saved us a ton on real estate commission,
Speaker 4: don't you know, Like I don't recommend it's pretty stressful,
Speaker 4: but it did save us as time and at the
Speaker 4: time it worked for us.
Speaker 2: Yeah. Cool.
Speaker 4: We ended up that house.
Speaker 2: So I need to backtrack. I need to backtrack. I
Speaker 2: have to ask, so you decided to do all of this?
Speaker 2: Did you need any licenses? Or you can just put
Speaker 2: your house on the market just DIY.
Speaker 4: You can do that yourself. There's a few companies that do,
Speaker 4: and it's like, sell my home and they help you
Speaker 4: with like real estate packages and your paying amounts to
Speaker 4: them for photos and that type of thing.
Speaker 2: Yeah, perfect, okay, all right, Yeah, I was like, what
Speaker 2: about the contracts? What about when you find a buyer?
Speaker 2: I wouldn't even know how to sell my house with
Speaker 2: the contracts.
Speaker 4: Again, because of what I do for work, I was
Speaker 4: comfortable with that, but I except that not everybody is.
Speaker 2: Yeah, okay, so proceed with caution.
Speaker 4: Yes, correct, that's my bus. So we sold that house
Speaker 4: and we pretty much just sold it for what we
Speaker 4: brought it for because no one really wanted to spend money.
Speaker 2: You just wanted to get rid of it as well.
Speaker 4: Absolutely, and I was just happy to break even and
Speaker 4: call it a day. We sold our other property for
Speaker 4: more than we bought it for, so we made a
Speaker 4: little bit on it. After we cleaned it up and
Speaker 4: renovated it. We just did like a cosmetic renovation enough
Speaker 4: to sell it, and we made a little bit of
Speaker 4: money in it. And then we also came into a
Speaker 4: little bit of money at that time which we hadn't
Speaker 4: able to put towards traveling obviously not happening. So then
Speaker 4: once we sold all these properties, my husband's like, where
Speaker 4: are we going to go? He's legend a queen's later
Speaker 4: his whole life, So a big timber home with a
Speaker 4: beautiful deck, etcetera, ETCeteras his dream. He finds this queen's
Speaker 4: lander in this dream suburb.
Speaker 2: That's so good.
Speaker 4: He's like, well, we've got all this cash and we're
Speaker 4: not going anywhere. Should we do it? And yeah, we
Speaker 4: ended up doing it. Luckily we bought and a really
Speaker 4: black we're so fortunate to afford in the market that
Speaker 4: we bought in where house prices were significantly lower than
Speaker 4: they are now. So yeah, we bought for three hundred
Speaker 4: and seventy five.
Speaker 2: Thousand, Oh my goodness.
Speaker 4: Yeah. And then because my husband's a jack of all trades,
Speaker 4: master of some not all, we were able to do
Speaker 4: a pretty decent sized reno on the house, a lot
Speaker 4: of him doing it himself. So that's it does a
Speaker 4: heap of money. So since the renovation, we had our
Speaker 4: house valued recently and it was valued at nine hundred
Speaker 4: and fifty value it sorry, what I know, crazy?
Speaker 2: Nine fifty from what three eighty five b for real?
Speaker 4: Three seventy five?
Speaker 2: I know, three seventy five no illegal?
Speaker 4: So good. Gave my husband a huge head about how
Speaker 4: his skills.
Speaker 2: Oh yeah, well do you know what. Let him keep
Speaker 2: that because like, next time you want to renovate something,
Speaker 2: you be like, but you're so good at it. Remember
Speaker 2: how you did that? Yeah, just you let him keep that.
Speaker 4: So we have quite a bit of equity in our home.
Speaker 4: And because we applied some of that money that we
Speaker 4: made from our first investment property and some of the
Speaker 4: way that we came into our mortgage was pretty low.
Speaker 4: So we only owe four hundred thousand on our house
Speaker 4: and we borrowed some to do the renovation. So yeah,
Speaker 4: we owe four hundred thousand, it's worth nine fifty.
Speaker 2: That's so good.
Speaker 4: And we don't really have any other debts. We did
Speaker 4: have a small Carlo and that we just paid off.
Speaker 2: Yeah.
Speaker 4: Cool.
Speaker 2: And so now you're thirty four, So it's kind of
Speaker 2: like a nearly ten year journey of like buying your
Speaker 2: first property and like going in and around and like,
Speaker 2: I feel like you're in a great position now. I've
Speaker 2: just got a few questions and I hope they're not
Speaker 2: too pervy. You did mention, look, we had some fertility issues.
Speaker 2: Is that something that you're like, okay, cool, Like we
Speaker 2: just decided that we're just not having kids, and now
Speaker 2: you're it's just the two of you and you're trying
Speaker 2: to work out what life looks like moving forward or
Speaker 2: what's the go there.
Speaker 4: No, so we were lucky enough to I found an
Speaker 4: amazing doctor in my hometown who helped me or helped
Speaker 4: us through that fertility journey. And we've now got two
Speaker 4: little boys.
Speaker 2: Ah, they are good. And do you know what, I think?
Speaker 2: It's so beautiful hearing stories like that you were so
Speaker 2: down in the dumps about it that you literally sold
Speaker 2: your house because you didn't want to be there because
Speaker 2: it was a reminder of the fact that you weren't
Speaker 2: having a baby. And then now you have two babies
Speaker 2: in your now probably even more dream home.
Speaker 4: Absolutely, and they're like, honestly the best thing I ever did.
Speaker 4: So I'm so glad that we were able to get that.
Speaker 2: Oh, oh my God, I'm so excited to hear like
Speaker 2: that's literally the best. Like ah, I was like, do
Speaker 2: I ask? Don't I ask? And then I was like,
Speaker 2: hold on, earlier we're talking about daycare. I know that
Speaker 2: this woman has kids, so good, all right, I need
Speaker 2: to now know what do you do for work? How
Speaker 2: much money are you earning?
Speaker 4: So I am a lawyer and I earn about one
Speaker 4: hundred and twenty thousand.
Speaker 2: Cool, very cool. And when it comes to being a lawyer,
Speaker 2: are you in property law because you told me that
Speaker 2: you understood the contracts or is that just a benefit
Speaker 2: of being a lawyer, like you just get to understand
Speaker 2: all of it.
Speaker 4: Well, I mean it's somewhat a benefit. I don't profess
Speaker 4: to be an expert of property, but I did at
Speaker 4: the start of my career. I did a lot of
Speaker 4: conveyancing and.
Speaker 2: Cool and more so, you're fine.
Speaker 4: It was subject matter that I felt comfortable with.
Speaker 2: Oh how good. I don't want to be too pavy.
Speaker 2: But is your husband on a similar income?
Speaker 4: Our hands quite a bit more than me. So he's
Speaker 4: on about one hundred and fifty.
Speaker 2: Thousand and he's still doing five fox.
Speaker 4: No, he doesn't do and what he works into town,
Speaker 4: so I know he'd never worked away from our voice, So.
Speaker 2: Yeah, how good. I was going to be like his
Speaker 2: fIF ox really hard steal, Like, what's that look like?
Speaker 2: That's so nice to have that income and not have
Speaker 2: to do fifo.
Speaker 4: Absolutely, and he's pretty high up in his area now.
Speaker 2: So yeah, you've said obviously fertility was a big part
Speaker 2: of it, and I'm sure for a while there that
Speaker 2: was a pretty big money goal, especially because you said
Speaker 2: you had to find a very probably expensive fertility doctor.
Speaker 2: You've bought and sold your dream property, You've then bought
Speaker 2: another beautiful Queenslander, and you're sitting on a very nice
Speaker 2: amount of equity. What are your big money goals? What
Speaker 2: are you currently working towards? Because I feel like for
Speaker 2: a lot of like people listening to this are going
Speaker 2: to be like, she's achieved all the things that were
Speaker 2: my money goals.
Speaker 4: Oh look, the list of goals are endless. But at
Speaker 4: the moment, there is a house in our street is
Speaker 4: actually right next door to us, another Queen's Lander. Oh
Speaker 4: my god, my husband and I I guess really really
Speaker 4: want to buy it. We used to have really lovely
Speaker 4: neighbors there. It was brought by an investor and it's
Speaker 4: just like been pretty like renters in and out, changing
Speaker 4: over very frequently, and we would love to buy it
Speaker 4: and neither let's be in control of who's renting it,
Speaker 4: or do something like an airbnb sort of setup.
Speaker 2: Oh hey, that would be cool, wouldn't it, Especially being
Speaker 2: next door you could do all the turnovers yourself.
Speaker 4: Absolutely.
Speaker 2: Oh, she's savvy and that would be like an investment
Speaker 2: property for you guys.
Speaker 4: Maybe, yes, correct, I'm into the spreadsheet so I've had
Speaker 4: to look at it all. Yeah.
Speaker 2: Love, tell me a bit more about this travel goal
Speaker 2: of yours because it was sidelined because of COVID. But
Speaker 2: if you were buying and selling during COVID, I'm just
Speaker 2: doing some maths, and then you had two kids, I
Speaker 2: don't know when you fit that travel in. Did that
Speaker 2: ever happen?
Speaker 1: In?
Speaker 2: Is it a goal?
Speaker 4: It's still definitely a goal. Probably the length and destination
Speaker 4: slightly different with two small children. But we're actually going
Speaker 4: overseas in August this year and taking both our boys,
Speaker 4: so we're super excited about that.
Speaker 2: Oh exciting, where are you going?
Speaker 4: Where going to Japan?
Speaker 2: Oh my gosh, how good?
Speaker 4: We're really excited.
Speaker 2: And the weather over there at that time of year
Speaker 2: will be gorgeous.
Speaker 4: Well, it'll be very similar to where we are in Queensland,
Speaker 4: so I think we'll be used to. Everyone says it's
Speaker 4: too hot, but I think will be fine.
Speaker 2: But you're from Queensland. No, you're fine, You're absolutely fine.
Speaker 2: I go to Queensland and I think it's too hot,
Speaker 2: so I have no chance in August in Japan.
Speaker 4: I mean, you're probably right, but we are used.
Speaker 2: To it, right, It's like the frog in the boiling
Speaker 2: pot of water, like you just get used to it.
Speaker 4: You absolutely do.
Speaker 2: I love that. All right, let's go to a really
Speaker 2: quick break and on the flip side, I actually have
Speaker 2: a lot of questions for you, so guys, don't go anywhere,
Speaker 2: all right, money, dirist. We are back and we are
Speaker 2: talking about your journey mainly in property, which has been
Speaker 2: really cool. You've clearly made some good money. I mean
Speaker 2: it's not cash in your hands, but you're sitting on
Speaker 2: some really nice equity inside the property that you're currently in.
Speaker 2: And I would say, as much as it's your family home,
Speaker 2: I can see that you're seeing it as an investment.
Speaker 2: And we've just been talking about you potentially purchasing the
Speaker 2: house next door to you as an investment, and I'm
Speaker 2: assuming that you're probably going to use some of the
Speaker 2: equity in the house that you're currently even to get
Speaker 2: into that property. But talk to me about your thoughts
Speaker 2: on investments, like what investments do you hold, what's the plan,
Speaker 2: what does the future look like?
Speaker 4: So I guess other than like acid ranuation and I
Speaker 4: salary sycrifice into my super very sexy and my husband
Speaker 4: does the same, it's just a little amount by every
Speaker 4: dollar counts. We don't have like an investment portfolio per se.
Speaker 4: So that is something that we've talked about, and we
Speaker 4: have gone back and forward about whether that's in property
Speaker 4: or whether we want to have a share portfolio something similar.
Speaker 4: My husband's rationale is that if we buy property, we
Speaker 4: have something down to our kids because they might never
Speaker 4: be able to get into real estate.
Speaker 2: Very valid.
Speaker 4: That's sort of why we've been looking at the house
Speaker 4: in store and other properties and investment properties and thinking
Speaker 4: about how we could use those to have an income stream.
Speaker 4: But I am still interested in just having a small
Speaker 4: share portfolio. So I did, after listening, actually downloaded some
Speaker 4: of the apps that you are good recommend it, and
Speaker 4: I just had some small amounts in there that are
Speaker 4: just sitting there, not really doing anything. So I started,
Speaker 4: but I would have said that we're.
Speaker 2: Deep in dipping our toes in the water. I love that.
Speaker 2: What made you want to salary sacrifice more to your superannuation?
Speaker 4: Well, my employer pays over and above what they're required to,
Speaker 4: but they will only do that if we meet the
Speaker 4: percentage over and above the standards.
Speaker 2: So you're like, no brainer, free money.
Speaker 4: Yeah, I had a low plus sacrifice three percent and
Speaker 4: they give me an extra three percent.
Speaker 2: So excuse me. I would like to go back to
Speaker 2: full time and play if that's the case. Like, that's
Speaker 2: a good deal.
Speaker 4: So good.
Speaker 2: So is your super looking incredibly healthy at this point?
Speaker 4: I think it's okay. I mean, early days in my career,
Speaker 4: I was not earning all that much, so what I
Speaker 4: was adding to my super was not that great. It's
Speaker 4: definitely improved the further I've gone to my career. But
Speaker 4: also I've been on two stints of maternity leave, so
Speaker 4: there's been times where I haven't been earning. But it's
Speaker 4: currently sitting at about one hundred and thirty thousand.
Speaker 2: Oh, you are doing well. You are fine. That is good,
Speaker 2: But like I think that that's the way for a
Speaker 2: lot of women who have invested a lot of time
Speaker 2: in tertiary study and then you know, probably taking on
Speaker 2: grad jobs and then working your way up, like it
Speaker 2: does take a bit, and then you start earning a
Speaker 2: lot and then I think employeers know that, and that's
Speaker 2: why sometimes obviously really great benefit is having additional super
Speaker 2: but I think a lot of them know like, oh,
Speaker 2: we probably should kick this up a little bit for them,
Speaker 2: because most of them are going to be behind. So
Speaker 2: that is I would like to say, kind of them.
Speaker 2: But it's also a very good employment benefit. So tell
Speaker 2: me a bit more about debt. You mentioned before. You
Speaker 2: currently owe four hundred thousand dollars on your property at
Speaker 2: the moment, and it's worth nine fifty, which is a
Speaker 2: money win. Do you have any other debt?
Speaker 4: We have a credit card that's probably not like I
Speaker 4: just booked accommodation for Japan, so it's probably got like
Speaker 4: eight hundred dollars.
Speaker 2: Yeah. Cool. And how do you feel about debt? Like
Speaker 2: is that something that when you were taking on your
Speaker 2: mortgage was that stressful or you're like, oh no, I
Speaker 2: get it, Like it's fine, Like I'm not worried.
Speaker 4: I don't worry about debt that's attached to property, and
Speaker 4: I think that's just because I'm experienced in property. But
Speaker 4: I feel like credit card and personal loans, I think
Speaker 4: they can aspireal really quickly, so there is an element
Speaker 4: of fear attached to those, I think, and obviously everyone would,
Speaker 4: but I would puppoched to not to have them because
Speaker 4: the benefit, you know, doesn't outlay the risk. Whereas with property,
Speaker 4: I think you've got something solid that you can always
Speaker 4: if you need it to, and hopefully in the right market,
Speaker 4: your asset is at least equal to it.
Speaker 2: Yeah, totally, And I feel like it's wealth generating at
Speaker 2: the end of the day, Like if you get it,
Speaker 2: you're like cool, Like I could sell it for what
Speaker 2: it's worth. But a personal loan does feel terrifying. I mean,
Speaker 2: as someone who was in personal debt, like it is
Speaker 2: terrifying even once you've got it now. I feel like
Speaker 2: to get into property to be able to like flip
Speaker 2: these properties and get to where you are today, you
Speaker 2: would have had to have some good money habits. Can
Speaker 2: you tell me what you think your best money habit is?
Speaker 4: I really thought about this because I was trying to
Speaker 4: figure out what a good money habit is for me,
Speaker 4: and I think it's so simple that it's so effective.
Speaker 4: We have a billing account that's pretty much it.
Speaker 2: So I love this.
Speaker 4: I have a spreadsheet where I've got every bill that
Speaker 4: we have to pay, the frequency in which we have
Speaker 4: to pay it, added it all together, and provided it
Speaker 4: into a weekly payment. So my income or my wage
Speaker 4: goes straight into our billing account, and then I've figured
Speaker 4: out how much we need to top it up from
Speaker 4: my husband's wage, and the money just goes straight into
Speaker 4: our billing account. It means we always know that any
Speaker 4: bill that comes in, there's money there to pay it.
Speaker 4: And it means that whatever's left, even though we probably
Speaker 4: don't want to spend it all, is safe for us
Speaker 4: to spend it. Yeah.
Speaker 2: Yeah, yeah, that feels good. I mean it's not how
Speaker 2: I deal with money, but that feels like a really
Speaker 2: simple system to be like this means that my bills
Speaker 2: are paid and I'm not in a financial pickle absolutely.
Speaker 4: And then at the moment, like we have a savings
Speaker 4: goal w or we're saving for our holidays, so some
Speaker 4: of that money goes into another account, and they're all
Speaker 4: offset accounts whing a mortgage, so while my money's sitting there,
Speaker 4: it's off setting our mortgage. And we put a little
Speaker 4: bit away for our holidays so that when holiday time comes,
Speaker 4: I don't feel like I just.
Speaker 2: Like, yeah, love, I love that so much. Do you
Speaker 2: have bad money habits? If so, what's the worst The spenders.
Speaker 4: Like my husband and I are really bad at saying
Speaker 4: should we like this? And one of us will say no,
Speaker 4: we don't need that, and then the next day be like, Oh,
Speaker 4: let's just get it. Let's just get it, let's just
Speaker 4: get it.
Speaker 2: Let's just do it.
Speaker 4: Why not example flights to Japan? Should we go to Japan?
Speaker 4: And my husband's like, well, you're on the term lead,
Speaker 4: do you think we should? And then the next day
Speaker 4: he said, I fool a that, let's just do it.
Speaker 2: I kind of love that though, Like it's not as
Speaker 2: though you're being super financially irresponsible, like you have a mortgage,
Speaker 2: You've achieved all of these things and kind of set
Speaker 2: yourselves up, so it's not the end of the world.
Speaker 2: Like these decisions that you're making, they are big, but
Speaker 2: like they're not at the cost of your future wealth.
Speaker 2: In the grand scheme of things.
Speaker 4: No, not pouring our wealth down the drain, definitely not.
Speaker 4: But we are just like we could probably say, oh,
Speaker 4: we don't really need that right now, let's just not
Speaker 4: like it.
Speaker 2: I kind of like that though.
Speaker 4: You know, when you want it, you want it.
Speaker 2: See, you'd be fun people to hang out with, I
Speaker 2: feel because I'd be like, oh, what if you guys
Speaker 2: ruen up to and you'd be like, oh, we just
Speaker 2: booked Japan. I'd be like, we caught it last week.
Speaker 2: You said nothing about.
Speaker 4: Japan, right, Well, it's funny it should say that, because
Speaker 4: just before it started raining, my husband and I got
Speaker 4: we've ordered and have a pool five of gus pool
Speaker 4: sitting in our front yard because we're installing a pool,
Speaker 4: and we were like, our sun really loves swimming it.
Speaker 4: We were should we get a pool? He really likes
Speaker 4: to swim. Should we get a pool? Yeah, we're getting it.
Speaker 4: Let's do it.
Speaker 2: So you have impulse brought a pool and flights to
Speaker 2: Japan in the last month. I like this, right, I mean,
Speaker 2: I would love to say it's like unrelatable, but like
Speaker 2: I don't even have anywhere to put a pool, but like,
Speaker 2: don't put it past me because I would do it.
Speaker 2: I want impulse, bought a spa, an inflatable one on
Speaker 2: the internet.
Speaker 4: I will find space.
Speaker 2: Yeah, I like this, like you are my people. That
Speaker 2: just sounds really fun. We do have to keep each
Speaker 2: other in check though, because like our spending, like we
Speaker 2: would enable each other. So I think that we need
Speaker 2: to just be careful because otherwise we both might end up.
Speaker 4: In Japan or somewhere else.
Speaker 2: Not bad, not bad. We've had a chat and at
Speaker 2: the start you said, v I reckon, I'm a B minus.
Speaker 2: Tell me what it would take for you guys to
Speaker 2: get from a B minus to an A.
Speaker 4: I think like starting on some investments, so something that
Speaker 4: is like making us some money while we invest into it,
Speaker 4: which maybe whether that's property or something else, I'm not sure,
Speaker 4: but I think if we had some investments, I'd feel
Speaker 4: more financially secure. And I would really love to have
Speaker 4: like a passive income stream. And I think, hearing you
Speaker 4: read the letter at the start where we talked about
Speaker 4: like businesses and some failures along the way, my husband
Speaker 4: is the eternal like looking for the.
Speaker 2: Next good deal kind of like that that's me. I'm
Speaker 2: always like open to a business idea. Like I swear
Speaker 2: at the team every day. I'm like, so what about this?
Speaker 2: And they're like, sit down, stop it.
Speaker 4: This is me to my husband, No, that's the stupidest
Speaker 4: idea ever. And he comes back again and he really
Speaker 4: thought about it though, because I think it could work.
Speaker 2: I like how committed we are to it though, And
Speaker 2: then the week after when we've decided it's about idea,
Speaker 2: I'm not admitting to you that it's about idea. I'm
Speaker 2: just going to stop talking about it.
Speaker 4: Yeah, I'll come up with the next big thing.
Speaker 2: Yeah, I'm working on it. Stop asking.
Speaker 4: So I think if we had a passive income, that
Speaker 4: would make me feel more secure as well and better
Speaker 4: about our financial habits totally.
Speaker 2: And I don't think that's far away, because you guys
Speaker 2: are talking about like setting up an Airbnb and like
Speaker 2: organizing all of this other stuff that is going to
Speaker 2: ultimately put you in a really good position. Like I
Speaker 2: think this is a very fun money story. Like I
Speaker 2: love that you're like, yeah, like we had some fertility
Speaker 2: issues and we sold the house and I was like, oh,
Speaker 2: that's so hard, and then you have two boys, Like
Speaker 2: that's the best, Like and the journey I don't know.
Speaker 2: The financial journey is such that you can't predict it.
Speaker 2: Like you know, you said that you were twenty five
Speaker 2: when you bought that house and then you were trying
Speaker 2: to make babies and fill the house full of babies.
Speaker 2: You wouldn't have predicted that you would have had to
Speaker 2: throw money into that part of your life at any point. Like,
Speaker 2: it doesn't ever become someone's goal, It just is a
Speaker 2: spanner in the works. Do you think that your fertility
Speaker 2: journey in a way has shaped the financial decisions that
Speaker 2: you've made.
Speaker 4: I think definitely, because I don't think that we would
Speaker 4: have owned any other property after that. But now I've
Speaker 4: got to provide for them. But my focus is them,
Speaker 4: so I'm probably a little less frivolous, a bit more
Speaker 4: safe because I want to give them their best.
Speaker 2: Life possible totally, and I love that. I think that
Speaker 2: that is really really cool, money direst. I wish we
Speaker 2: had more time. This has been so beautiful to have
Speaker 2: this chat with you. I've doort it. I feel like
Speaker 2: we could be best friends on the outside. So I
Speaker 2: hope that at some point you and I can cross
Speaker 2: paths actually in person, as opposed to via video call.
Speaker 2: So till then, Thank you so much for this. I
Speaker 2: know that everybody listening is going to have loved it
Speaker 2: as much as I did. Thank you so much for
Speaker 2: having me so of course, thank you.
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