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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 Kerni 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 generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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

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Speaker 1: today and lasting impact for tomorrow.

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Speaker 2: Let's get into it. She's on the Money.

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Speaker 3: She's on the Money.

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Speaker 2: Hello and welcome.

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Speaker 4: She's on the Money, the podcast for millennials who want

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Speaker 4: financial freedom. Welcome back to another one of our money diaries,

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Speaker 4: my favorite episode of the week where we get to

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Speaker 4: talk with one of our incredible She's on the Money

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Speaker 4: community members all about their journey. Let's jump straight into it,

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Speaker 4: because this week I got an email and it sounded

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Speaker 4: like this, Hi, She's on the Money team. Three years ago,

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Speaker 4: my husband and I found ourselves drowning in debt after

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Speaker 4: traveling and treating ourselves a little too much with no regrets.

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Speaker 4: We were overwhelmed by the task of sorting out our finances.

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Speaker 4: We have a little boy with special needs who is

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Speaker 4: the center of our world, and in between juggling family life,

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Speaker 4: working part time as a teacher's aid, and terrible surprise

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Speaker 4: tax bills, we've paid off eighty thousand dollars.

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Speaker 2: Worth of debt in only three years.

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Speaker 4: We are very close to being debt free and we

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Speaker 4: cannot wait for the next step in our money journey.

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Speaker 4: Money Diarist, you just sound like a queen all round.

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Speaker 4: Not only eighty grand, you're still working, you have a

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Speaker 4: little special boy, Like, what's going on?

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Speaker 2: How good is that?

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Speaker 5: Yes, we've been very dissy.

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Speaker 2: Thank you, Welcome to the show.

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Speaker 4: I'm very excited to be able to share your story.

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Speaker 4: Do you want to just dive right in? Let's start

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Speaker 4: with the question that I ask every single Mundy Diarist

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Speaker 4: money Dirist before we dive into your story. What grade

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Speaker 4: would you give your money habits if I asked you

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Speaker 4: to grade them from A through to an F.

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Speaker 5: I think at the moment I would give myself a B.

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Speaker 2: Minus a B minus.

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Speaker 4: All right, Well, now my favorite question, let's dive into

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Speaker 4: the juicy stuff. Can you tell us a little bit

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Speaker 4: more about your money story.

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Speaker 5: Absolutely, so I guess our money story would start when

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Speaker 5: we got married. We got married quite young, and my

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Speaker 5: husband and I have very different money backgrounds. So for me,

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Speaker 5: I remember growing up, I was always very aware of money.

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Speaker 5: My parents worked really hard and they never burdened my

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Speaker 5: brother and I with any challenges they had or anything

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Speaker 5: like that. But I just remember my friend's not having

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Speaker 5: a care in the world, and you know, I wanted

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Speaker 5: to save. I wanted to buy my own things at

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Speaker 5: a young age, and when I got my first part

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Speaker 5: time job, I would always put money aside, even though

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Speaker 5: it was only like twenty dollars a week, and I'd

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Speaker 5: create these little tracking sheets where I could keep track

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Speaker 5: of how much I could save. So that's definitely continued

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Speaker 5: on into my adult life. However, my husband, his family

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Speaker 5: moved countries twice when he was ten and then eighteen.

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Speaker 2: Wow, So yeah.

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Speaker 5: He's got a very different background. He's just grateful for

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Speaker 5: anything he has, which is such a beautiful attitude. And

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Speaker 5: for him, if his bills are paid, he wants to

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Speaker 5: use the rest of his money to be generous to

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Speaker 5: his friends and family and to enjoy, which I really appreciate,

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Speaker 5: but it's definitely different to my approach, Like I'm definitely

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Speaker 5: a saver. So yeah, that's how we've kind of had

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Speaker 5: to meet in the middle, and I feel like now

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Speaker 5: we're in a great place where we are able to

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Speaker 5: do that and we share the same money values.

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Speaker 2: That's really sweet.

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Speaker 4: Though he sounds like a honey, this is so sidetracked.

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Speaker 4: But everyone wonders, I don't know, how did you meet

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Speaker 4: your husband?

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Speaker 5: We just met through friends, actually, and it was one

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Speaker 5: of those things where we just connected straight away, got

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Speaker 5: to know each other and just have never spent a

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Speaker 5: moment apart since. Really, like we just really connected and

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Speaker 5: very in love still, which I'm grateful for because we

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Speaker 5: never could have foreseen the challenges that would come our way.

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Speaker 5: And yeah, probably if we did, it would have been

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Speaker 5: a lot more stressful.

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Speaker 4: Absolutely, when you say challenges, what are we looking at?

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Speaker 4: Are we talking debt? Are we talking family? Tell me

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Speaker 4: a little bit more about that side of your story.

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Speaker 5: Yeah. So, once we got married, we wanted to travel

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Speaker 5: and we did not have much money, but we would

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Speaker 5: just save up, book a flight, save up, go kind

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Speaker 5: of thing, and we loved that and we had really

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Speaker 5: not a care in the world, like, we didn't care

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Speaker 5: if we came home and we had nothing. We were

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Speaker 5: just enjoying those experiences together and like I said in

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Speaker 5: the intro, like no regrets whatsoever. And a couple of

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Speaker 5: years after we got married, we fell pregnant with our son,

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Speaker 5: which was a big surprise. And we'd been to America

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Speaker 5: and Singapore and Fiji, and an opportunity came up to

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Speaker 5: go to Europe with one of my husband's best friends,

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Speaker 5: and it was kind of a once in a lifetime

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Speaker 5: opportunity because he'd had two friends pull out. So we

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Speaker 5: were just feeling those spots and a lot of things

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Speaker 5: were already paid for. He just wanted some companies. So

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Speaker 5: I was heavily pregnant, but we were like, we're not

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Speaker 5: passing that up. So obviously amazing experience and so so grateful.

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Speaker 5: But we got home we had nothing, and I'm like, oh,

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Speaker 5: my goodness, We've got to buy all this stuff for

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Speaker 5: a baby now. But you know that all works out.

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Speaker 5: And then when our son was quite young, I think

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Speaker 5: he was probably about eighteen months, my husband was a

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Speaker 5: subcontractor at the time, and we received some information from

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Speaker 5: our accountant that basically said we had a big tax

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Speaker 5: bill coming of twenty eight thousand dollars. I wouldn't say

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Speaker 5: we were struggling, but we were finding it hard to

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Speaker 5: make ends meet. We were definitely saving a little bit, but

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Speaker 5: mostly living week to week because I was working, I

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Speaker 5: was home with our son and that was really important

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Speaker 5: for us to have that time with him. So that

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Speaker 5: was quite daunting. That was probably the biggest challenge we've

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Speaker 5: ever faced. And we just kind of looked at each

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Speaker 5: other and we're like, you know, our life's going to

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Speaker 5: be very different while we pay this off. And we

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Speaker 5: had some beautiful friends who knew what were going through

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Speaker 5: and offered to pay it off for us, but we

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Speaker 5: just felt we needed to do this on our own,

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Speaker 5: and we ended up coming to the decision to move

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Speaker 5: in with my parents, and my parents, you know, did

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Speaker 5: not hesitate for a second. They were more than happy

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Speaker 5: to have us there while we were to pay that

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Speaker 5: debt down.

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Speaker 4: So tell me a little bit more about how a

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Speaker 4: surprise twenty eight thousand dollars tax debt happens Like that

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Speaker 4: to me is terrifying, Like I hate the idea that

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Speaker 4: one day you wake up and wow, twenty eight thousand

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Speaker 4: dollars is owed, Like what happened was your husband, you know,

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Speaker 4: not paying tax or not paying enough for like got

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Speaker 4: bad advice, like what happened.

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Speaker 5: So basically what happened was we were always paying tax.

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Speaker 5: I always put aside twenty percent from each of his incomes.

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Speaker 5: That was something we always stressed about a lot. Was

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Speaker 5: this situation that ended up happening At the end of

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Speaker 5: the day, it was just an error. When you work

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Speaker 5: for yourself, I guess your accountant will send you all

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Speaker 5: of your tax return, your income statements, all of those things,

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Speaker 5: and you have to look over it as well as

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Speaker 5: them and to us. So we're like, yeah, everything's fine,

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Speaker 5: and there was an error in it, unfortunately, so we

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Speaker 5: thought we'd paid quite a lot of tax and GST,

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Speaker 5: but it clearly wasn't enough, and so it wasn't until

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Speaker 5: things were checked at a later date that it was

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Speaker 5: discovered that this mistake had been made. And luckily it

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Speaker 5: wasn't a really really bad situation. You get a payment

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Speaker 5: plan from the ATO, there's no interest or anything like that.

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Speaker 4: I was about to ask, Yeah, I was about to

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Speaker 4: be like, surely they let you have a payment plan.

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Speaker 2: Please tell me they did.

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Speaker 5: Yeah, I know that was my first question. I'm like,

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Speaker 5: what are we going to do and he's like, oh,

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Speaker 5: there's a payment plan. It's eight hundred a month was

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Speaker 5: like the minimum. Don't quote me on that, but it

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Speaker 5: was a lot. So we'd just taken out a car

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Speaker 5: loan of forty grand. No. Yeah, I was a bit

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Speaker 5: hesitant to do that, but we were like, oh, it's

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Speaker 5: you know, a business expense because the car would be

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Speaker 5: used for work. So yeah, well like, oh my goodness.

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Speaker 5: So that plus this is like seventy thousand dollars of

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Speaker 5: debt pretty much overnight. So yeah, it was daunting.

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Speaker 2: Oh my gosh. And then what happened?

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Speaker 4: So you sorted out this payment plan with the atiro

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Speaker 4: started smashing that down at a minimum of eight hundred

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Speaker 4: bucks a month. How long did that take you or

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Speaker 4: is this something that you're still working through? Like where

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Speaker 4: does that additional ten thousand dollars worth of debt come from?

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Speaker 4: When we're talking about that eighty grand that you said

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Speaker 4: that you're in in your letter into the show.

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Speaker 5: Right, So we found out about the tax debt at

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Speaker 5: the end of twenty twenty, and thankfully our rental lease

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Speaker 5: was up in March, so we just paid the minimum

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Speaker 5: for those couple of months, and we moved in with

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Speaker 5: my parents and we had it all paid off by

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Speaker 5: I think September that year. It was between six and

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Speaker 5: nine months we paid off. So we would do the

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Speaker 5: minimum repayments, but we would just do as much as

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Speaker 5: we could on top of that. Yeah, of course, to

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Speaker 5: just smash it out. And it's such a daunting amount,

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Speaker 5: Like I feel like, you know, anything from the ATO

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Speaker 5: is daunting, but that was quite confronting.

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Speaker 4: It's really scary when something like that happens because you

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Speaker 4: also just don't have anything to show for it. You go, oh,

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Speaker 4: but this isn't because of my quote spending habits, So

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Speaker 4: this isn't a car loan, or this isn't something that

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Speaker 4: you know, it was an asset that I could sell

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Speaker 4: and get the tax down, Like I can't do that.

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Speaker 4: I actually have to pay every single dollar of this,

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Speaker 4: and I don't have any choice. I'm glad they set

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Speaker 4: you up on a payment plan, but even that if

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Speaker 4: feels like a more serious payment plan than paying a

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Speaker 4: bank about k.

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Speaker 5: Absolutely, there's no flexibility, like you really need to pay

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Speaker 5: that off every month, and like you said, there's no

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Speaker 5: satisfaction at the end of it, it's just off. Now

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Speaker 5: we're at zero great, so yeah.

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Speaker 4: The worst and you know what, it happens to a

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Speaker 4: lot of people. And that's why I'm so passionate about

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Speaker 4: Like she's on the money stuff, and we obviously do

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Speaker 4: the Business Bible because it is actually on you. And

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Speaker 4: I know that you said, oh, there was an error

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Speaker 4: in it, and like that could have come from anywhere,

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Speaker 4: but it's just you need to be in a position

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Speaker 4: where you can read.

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Speaker 2: It too and go, actually, that's not quite right.

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Speaker 4: Even if you didn't know how to submit all of

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Speaker 4: your forms or you didn't know how to do a

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Speaker 4: full tax return yourself. Like I want to put people

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Speaker 4: in the position where they can look at a tax

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Speaker 4: return form and go, oh, actually that doesn't add up,

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Speaker 4: so that they don't end up in your situation because

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Speaker 4: it's trash, Like that's not fun. You probably had a

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Speaker 4: million and one other things that twenty eight grand could

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Speaker 4: have gone towards, and unfortunately it didn't exactly.

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Speaker 5: And that's why I'm so grateful for the podcast, because

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Speaker 5: like before that, we were definitely like the kind of

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Speaker 5: people who thought, Okay, let's just ignore that and hope

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Speaker 5: it goes away. But the podcast has empowered me to,

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Speaker 5: you know, just look at what's happening with our finances,

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Speaker 5: and there's no secrets, there's no room for hiding. It

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Speaker 5: is what it is, and the black and white is

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Speaker 5: right in front of you. So now I have no

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Speaker 5: issue looking through any of those documents and I just

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Speaker 5: want to be informed about where we're at.

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Speaker 2: Yeah. I love that so much.

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Speaker 4: It makes me genuinely so happy because I just look

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Speaker 4: at it and go, all right, well, I've seen people

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Speaker 4: in these situations where the tax thing has scared them

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Speaker 4: off so much that they don't do subcontracting work anymore,

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Speaker 4: or you know, they change roles, or they don't you know,

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Speaker 4: pursue having their own small business anymore because they're like,

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Speaker 4: I'm not smart enough or I'm not good enough, or

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Speaker 4: I was too silly with it and I couldn't be responsible.

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Speaker 2: When that's not the case at all. It's just about education.

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Speaker 4: And I'm sure you know, now, money direst You just

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Speaker 4: read through it and you have a look and you go, oh,

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Speaker 4: that doesn't make sense. I'll do a bit more research

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Speaker 4: as to what that means, but it actually is quite logical.

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Speaker 4: You just have to be taught the language, and that's

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Speaker 4: what we're trying to do with She's on them money

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Speaker 4: is like, give you the tools so you can read

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Speaker 4: something and go, oh, that that makes sense. One plus

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Speaker 4: one equals two. No worry, so I can see. So

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Speaker 4: tell me you said that you were very close to

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Speaker 4: being debt free. What does that mean? How long have

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Speaker 4: we got to go? And what does the journey after

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Speaker 4: that look like?

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Speaker 5: So we have almost paid off our car. We also

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Speaker 5: had another tax bill after that, twenty eight thousand dollars

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Speaker 5: one which was twelve thousand you know. We paid that

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Speaker 5: off quite quickly as well, and then my husband had

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Speaker 5: no work for six months, so that was really hard.

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Speaker 5: We used up our savings to get through that time.

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Speaker 5: So I feel like it has been like one thing

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Speaker 5: after another. But we're finally in a place where we've

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Speaker 5: moved out of my mum and dads now, and we

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Speaker 5: are very very very close. I think within the next

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Speaker 5: few weeks we'll have our car paid off, so we'll

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Speaker 5: owe that.

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Speaker 2: Anah, that's so exciting.

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Speaker 5: Yeah, thank you.

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Speaker 2: It feels like that though.

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Speaker 4: Hey, when it rains, it pause like when one thing happens,

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Speaker 4: I feel like it's a domino effect and you're like, Wow,

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Speaker 4: this must just be an entire season of my life

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Speaker 4: because it's one thing after another, and when it's money stuff.

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Speaker 2: You're just like, can you give it a rest?

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Speaker 4: Like I'm done with this, Like I'd like to just

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Speaker 4: feel a little bit comfy for a little bit of time.

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Speaker 5: Oh, definitely, can definitely relate.

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Speaker 2: I want to know.

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Speaker 4: Now you mentioned that you're still working, Tell me what

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Speaker 4: do you do for work? How much money do you earn?

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Speaker 5: So I am a teacher aid and currently I am

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Speaker 5: just working casually. I went back to work in the

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Speaker 5: middle of twenty twenty two. I was offered a contract

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Speaker 5: three days a week and that was a lifesaver because

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Speaker 5: that was the time when my husband wasn't working much

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Speaker 5: and the last financial year, I think I earned just

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Speaker 5: eighteen thousand. But this year I've decided to take a

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Speaker 5: break because it's the last year before our beautiful sun

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Speaker 5: goes off to prep So I just really want to

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Speaker 5: have that time with him and have the flexibility to

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Speaker 5: say yes or no to the work depending on what

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Speaker 5: my family's needs are at the time. So very grateful

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Speaker 5: for that.

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Speaker 4: What will that look like? You mentioned that your son

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Speaker 4: has special needs. What are they and what kind of

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Speaker 4: financial impact does that have.

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Speaker 5: Yeah, so our son has autism level three and EIGHTYHD

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Speaker 5: and that has been a huge challenge for us. It's

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Speaker 5: not what we plan for at all. I don't think

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Speaker 5: anyone does. But he was diagnosed at a young age,

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Speaker 5: so we were able to access NDIS funding really early on.

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Speaker 5: We did pay out of pocket for therapies for a

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Speaker 5: couple of months, which was obviously hard, but we knew

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Speaker 5: he needed it and it was very beneficial. And now like,

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Speaker 5: obviously all of his therapies and things like that are covered,

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Speaker 5: which we're so grateful for. But I feel like the

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Speaker 5: financial implications are more just the fact that I can't

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Speaker 5: work full time. I can't even really commit to part

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Speaker 5: time work at the moment because his needs are high

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Speaker 5: and I need to be available for him if he's

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Speaker 5: not able to go to Kindy that day or something

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Speaker 5: like that, because some days he just needs to be

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Speaker 5: at home in his safe space.

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Speaker 4: Yeah, and that's what I was going to stretch into.

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Speaker 4: I was hoping that you would mention the impact on

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Speaker 4: you not being able to work, and like, obviously that's

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Speaker 4: a choice for a lot of families, but you seem

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Speaker 4: motivated to want to work and get back into the

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Speaker 4: community and do all this stuff. But obviously you're unable

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Speaker 4: to what will that look like when he's at school

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Speaker 4: or is that something that you just don't know yet.

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Speaker 5: Yeah, I think we definitely don't know. Luckily, he attends

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Speaker 5: a program one day a week at the school where

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Speaker 5: he'll be attending, and that's why we've moved is to

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Speaker 5: be closer to that. So I'm very confident that he

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Speaker 5: will settle in beautifully because he's kind of familiar with

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Speaker 5: the environment.

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Speaker 2: Oh that's so good.

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Speaker 5: Yeah, it's amazing. So I'm really really hoping that once

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Speaker 5: he settled into school next year, I can continue with

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Speaker 5: my teacher aid work and we're just going to have

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Speaker 5: to see how it goes, obviously, but we're in an

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Speaker 5: area where there's a lot of local schools, so I

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Speaker 5: think even if I just do casual for a while,

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Speaker 5: that'll be fine too.

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Speaker 2: Yeah. How good. I love that you've found something that

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Speaker 2: fits in.

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Speaker 4: And teachers aids are so undervalued, and I would argue

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Speaker 4: very underpaid given how to work you end up doing,

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Speaker 4: but I think that that's such a special role for

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Speaker 4: someone in your position, where there's that level of flexibility,

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Speaker 4: but also you probably have a level of empathy that

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Speaker 4: not a lot of people do because you're going through

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Speaker 4: a situation like you know how to deal with autism

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Speaker 4: and ADHD and probably respond a lot better to those

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Speaker 4: kids than someone who doesn't just have that first hand experience.

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Speaker 4: So they're lucky to have you too.

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Speaker 5: Oh, thank you. I love my job. It's amazing and yeah.

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Speaker 2: It's so sweet.

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Speaker 1: All right.

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Speaker 4: I want to know what are your big money goals?

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Speaker 4: What are you and your husband currently working towards.

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Speaker 5: Well, obviously the first one is being completely debt free

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Speaker 5: for the first time in our whole relationship. I think

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Speaker 5: we'll just soap that in for a little bit.

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Speaker 2: That's big.

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Speaker 4: Yeah, are you planning to celebrate? Like, what will we

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Speaker 4: do when we get out of debt? Surely there's something

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Speaker 4: has to be.

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Speaker 5: Well, I'm going to set aside five hundred dollars and

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Speaker 5: I think we're going to just spend the day together,

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Speaker 5: go out for a lovely lunch and do a little

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Speaker 5: bit of shopping. And I feel like things like that.

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Speaker 5: Last few years, every dollar's counted and we've had to

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Speaker 5: be so careful. So I just want to day where

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Speaker 5: we just do whatever we want and then get back

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Speaker 5: on track with our goals.

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Speaker 4: Yeah, I love it, but you do have to celebrate

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Speaker 4: these things. I think that they're so important to celebrate

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Speaker 4: because it's kind of like a pivot point not only

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Speaker 4: in your relationship, but in your financial journey. And you

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Speaker 4: want to remember that. You want to be like, remember

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Speaker 4: the time we got out of debt completely, Like that

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Speaker 4: was special? Like that was cool? Yeah, definitely, And what

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Speaker 4: else are you currently working towards apart from the debt

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Speaker 4: free goal?

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Speaker 5: So we would love to buy a property just to

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Speaker 5: really help our son to have, you know, a home

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Speaker 5: base that he can always come back to and where

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Speaker 5: he feels safe and supported. And obviously we feel that

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Speaker 5: home is where the heart is and we know wherever

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Speaker 5: we move, he'll be okay because he's got us. But

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Speaker 5: we would just love to have that for him where

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Speaker 5: he can grow up and create memories. And one day,

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Speaker 5: once we're in there, we would love to have a

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Speaker 5: pool for him because water is his favorite thing in

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Speaker 5: the world and I think that would just be amazing

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Speaker 5: to have access to that every day.

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Speaker 2: That would be so sweet. I love that.

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Speaker 4: And I know that you're in Queensland, so having a

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Speaker 4: pool in Queensland would be elite, Like I'm coming over

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Speaker 4: one day. I want to ask about that because I

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Speaker 4: feel so many of us in different stages of our lives,

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Speaker 4: Like you might be quite young and you're like, I

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Speaker 4: never want to own property?

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Speaker 2: Was that you?

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Speaker 4: And then just life has happened and pivoted and you're like, actually,

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Speaker 4: that level of stability and that goal has now become

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Speaker 4: quite attractive. Given our lives are very different to what

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Speaker 4: they were when I was, you know, twenty two and

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Speaker 4: didn't care so much about the property market, Like, at

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Speaker 4: what point did you realize that was like, oh, actually

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Speaker 4: we didn't want this, but now we do absolutely.

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Speaker 5: Yeah, So we were definitely not interested in buying a home.

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Speaker 5: We're kind of like why would we, Like, we can

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Speaker 5: keep traveling, and after having our son, that was definitely

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Speaker 5: a turning point. And I think also the obstacles we've

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Speaker 5: faced over the last few years, we've realized how much

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Speaker 5: we can achieve. I never thought could pay off you know,

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Speaker 5: almost eighty thousand dollars of debt in a couple of years,

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Speaker 5: but that's also shown me, Okay, well we can probably

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Speaker 5: save that much.

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Speaker 2: Yeah, one hundred percent.

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Speaker 4: I love your mindset at the moment, because so many

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Speaker 4: people get swallowed by debt and don't see it as

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Speaker 4: an achievement. Like, don't get me wrong, being in debt

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Speaker 4: it feels awful. But if you can create a plan

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Speaker 4: and you go you know, before you mentioned your tax debt,

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Speaker 4: you had to pay eight hundred dollars a month off, Like,

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Speaker 4: if you can create that type of plan, the second

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Speaker 4: that's paid off, if you can consistently contribute that to

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Speaker 4: now a savings account, like that all becomes yours instead

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Speaker 4: of it becoming the taxman's, instead of it becoming a

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Speaker 4: debt repayment. It's now your money to create financial freedom with.

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Speaker 4: And I think it's so much easier. And you know,

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Speaker 4: people aren't going to like to hear this, but once

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Speaker 4: you've been in debt and you've seen how much actually

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Speaker 4: goes out and you go fire out, twenty eight thousand

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Speaker 4: dollars is so much money, and then you realize I

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Speaker 4: could create that for myself. I feel like there's a

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Speaker 4: really powerful turning point for us where we go, actually,

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Speaker 4: I'm going to get out of debt and I am

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Speaker 4: going to turn all of this around. And some of

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Speaker 4: the most incredible journeys I've seen have been from people

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Speaker 4: who have been in debt to people who are now

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Speaker 4: investors or now owning property or you know, absolutely killing

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Speaker 4: it financially because they know what it's like to be

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Speaker 4: on the other end of the scale and they just

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Speaker 4: go never again and they just have this deeper level

440
00:20:26,600 --> 00:20:29,000
Speaker 4: of motivation. Do you think that's going to be you guys?

441
00:20:29,600 --> 00:20:30,320
Speaker 5: Absolutely?

442
00:20:30,440 --> 00:20:30,640
Speaker 3: Yeah.

443
00:20:30,680 --> 00:20:33,520
Speaker 5: It's created big motivation for us to work out what

444
00:20:33,560 --> 00:20:36,560
Speaker 5: we want to do. And it's been, like you said,

445
00:20:36,680 --> 00:20:40,080
Speaker 5: very empowering to know that we can achieve our goals

446
00:20:40,320 --> 00:20:42,720
Speaker 5: and to just put that into action, make it practical

447
00:20:42,760 --> 00:20:43,399
Speaker 5: and make it happen.

448
00:20:43,520 --> 00:20:43,840
Speaker 2: I love it.

449
00:20:43,880 --> 00:20:45,520
Speaker 4: All right, let's go to a really quick break and

450
00:20:45,560 --> 00:20:47,800
Speaker 4: on the flip side, I've got a lot of questions

451
00:20:47,800 --> 00:20:55,040
Speaker 4: for you, So guys, don't go anywhere, all right, money dirist,

452
00:20:55,080 --> 00:20:57,359
Speaker 4: We are back and I want to talk about investments.

453
00:20:57,400 --> 00:20:59,920
Speaker 4: Do you have any If you don't, what's the plan

454
00:21:00,119 --> 00:21:00,800
Speaker 4: for the future.

455
00:21:01,240 --> 00:21:04,440
Speaker 5: So at the moment, I have between four and five

456
00:21:04,520 --> 00:21:09,919
Speaker 5: thousand in my super and I have four hundred dollars

457
00:21:10,000 --> 00:21:12,440
Speaker 5: in Charez eas so I just kind of contribute a

458
00:21:12,480 --> 00:21:14,720
Speaker 5: little bit each week to that, which is exciting.

459
00:21:15,160 --> 00:21:17,200
Speaker 4: I love that you're on this journey, but you're also

460
00:21:17,280 --> 00:21:20,760
Speaker 4: like no and prioritizing investing. Tell me why you picked

461
00:21:20,840 --> 00:21:23,720
Speaker 4: Chazi's and I guess how you got started. Did you

462
00:21:23,800 --> 00:21:24,400
Speaker 4: just put some.

463
00:21:24,400 --> 00:21:26,639
Speaker 2: Cash on there? And then how did you pick which investments.

464
00:21:26,680 --> 00:21:28,920
Speaker 4: I feel like that's the biggest question from our community

465
00:21:29,000 --> 00:21:29,480
Speaker 4: at the moment.

466
00:21:30,119 --> 00:21:34,159
Speaker 5: Yeah, I'm still definitely working it out how to choose

467
00:21:34,240 --> 00:21:36,639
Speaker 5: wisely and all of those things. But I think just

468
00:21:36,720 --> 00:21:39,840
Speaker 5: listening to the podcast, obviously chazys is mentioned a lot,

469
00:21:39,920 --> 00:21:43,320
Speaker 5: and having access to the free ten dollars, I was like,

470
00:21:43,400 --> 00:21:45,000
Speaker 5: I'm not going to turn away free money.

471
00:21:45,200 --> 00:21:48,119
Speaker 2: It's free money. Hey, yeah, yeah, exactly.

472
00:21:48,640 --> 00:21:50,119
Speaker 5: So I did that and I just kind of thought, oh,

473
00:21:50,200 --> 00:21:52,000
Speaker 5: let's just have a look and you know, if it

474
00:21:52,040 --> 00:21:54,040
Speaker 5: goes nowhere, it's okay, it's ten dollars.

475
00:21:54,119 --> 00:21:55,879
Speaker 2: So yeah, and it was free ten dollars.

476
00:21:56,320 --> 00:21:59,600
Speaker 5: Obviously not super educated in this at all, but I

477
00:21:59,640 --> 00:22:02,959
Speaker 5: get little dividends paid back into my account from certain

478
00:22:03,000 --> 00:22:06,119
Speaker 5: ones that I've invested in, So you know, at the moment,

479
00:22:06,160 --> 00:22:08,000
Speaker 5: it's not the right time in our life for me

480
00:22:08,040 --> 00:22:10,119
Speaker 5: to be putting a lot into that, but I'm like, Okay,

481
00:22:10,200 --> 00:22:13,359
Speaker 5: I can see this actually works. I've learned from the

482
00:22:13,359 --> 00:22:15,359
Speaker 5: podcast that you know, if I just keep my money

483
00:22:15,359 --> 00:22:17,800
Speaker 5: in there, just keep chipping away at it, popping what

484
00:22:17,840 --> 00:22:20,800
Speaker 5: we can afford in each week, it will grow and

485
00:22:20,840 --> 00:22:22,719
Speaker 5: I'll have something to show for it in the future.

486
00:22:23,080 --> 00:22:25,720
Speaker 4: Yes, I love that, and I feel like sometimes people

487
00:22:25,840 --> 00:22:27,960
Speaker 4: just go, oh, it's not worth it. I don't have

488
00:22:28,040 --> 00:22:30,280
Speaker 4: heaps and heaps of money, but you can see that

489
00:22:30,359 --> 00:22:33,760
Speaker 4: you've learned the process, you've learned the plan, you've seen

490
00:22:33,760 --> 00:22:36,320
Speaker 4: the dividends, and it kind of proves to you that

491
00:22:36,400 --> 00:22:37,600
Speaker 4: it's possible.

492
00:22:37,240 --> 00:22:38,119
Speaker 2: And that you can do it.

493
00:22:38,160 --> 00:22:41,080
Speaker 4: You don't need to be, you know, a stockbreaking genius

494
00:22:41,119 --> 00:22:42,800
Speaker 4: to be able to jump in on the action. You

495
00:22:42,800 --> 00:22:45,240
Speaker 4: can just go all right, this works, and at some

496
00:22:45,280 --> 00:22:47,560
Speaker 4: point in your life you can turn that up.

497
00:22:47,680 --> 00:22:49,679
Speaker 2: But I'm sure that'll be after you buy property. But

498
00:22:49,720 --> 00:22:50,439
Speaker 2: that's so exciting.

499
00:22:50,480 --> 00:22:52,960
Speaker 4: I'm glad I asked about it because it's just very

500
00:22:53,000 --> 00:22:53,880
Speaker 4: relatable to be.

501
00:22:53,840 --> 00:22:54,680
Speaker 2: At that stage.

502
00:22:54,920 --> 00:22:55,879
Speaker 5: Yes, definitely.

503
00:22:56,240 --> 00:22:58,719
Speaker 2: Next question I have is how much debt are you

504
00:22:58,840 --> 00:23:01,439
Speaker 2: still in? What does that look like? And do you

505
00:23:01,480 --> 00:23:03,119
Speaker 2: have any other debts floating around?

506
00:23:03,640 --> 00:23:06,520
Speaker 5: So we have no other debts apart from the car loan,

507
00:23:06,560 --> 00:23:09,040
Speaker 5: and we've got ten thousand dollars owing on that and

508
00:23:09,520 --> 00:23:13,240
Speaker 5: that is due to finish dune next year, so when

509
00:23:13,280 --> 00:23:14,960
Speaker 5: we pay it off, we'll be paying it off about

510
00:23:15,000 --> 00:23:15,760
Speaker 5: a year early.

511
00:23:16,000 --> 00:23:17,040
Speaker 2: Oh exciting.

512
00:23:17,200 --> 00:23:20,800
Speaker 4: Congrats And how did you end up paying it off early?

513
00:23:20,840 --> 00:23:23,240
Speaker 4: Are you just smashing down the debt or is that

514
00:23:23,440 --> 00:23:25,879
Speaker 4: just part of the plan, Like, how did you decide,

515
00:23:25,920 --> 00:23:26,480
Speaker 4: all right.

516
00:23:26,400 --> 00:23:28,280
Speaker 2: We're going to get rid of this before the time

517
00:23:28,400 --> 00:23:28,720
Speaker 2: is up.

518
00:23:29,359 --> 00:23:32,960
Speaker 5: We have just been saving. We haven't done extra payments

519
00:23:33,000 --> 00:23:34,520
Speaker 5: just because it was a little bit tricky with the

520
00:23:34,560 --> 00:23:36,920
Speaker 5: way the loan is set up. So we've just made

521
00:23:37,040 --> 00:23:40,000
Speaker 5: extra payments into our savings account that we will just

522
00:23:40,440 --> 00:23:43,600
Speaker 5: do one final payment very soon and just finish that off.

523
00:23:43,720 --> 00:23:44,000
Speaker 1: Ah.

524
00:23:44,040 --> 00:23:44,920
Speaker 2: How exciting.

525
00:23:45,680 --> 00:23:48,720
Speaker 4: All right, you have gone from being eighty thousand dollars

526
00:23:48,720 --> 00:23:51,359
Speaker 4: in debt to now only ten thousand dollars, but with

527
00:23:51,480 --> 00:23:53,359
Speaker 4: a plan to get rid of it. What do you

528
00:23:53,400 --> 00:23:55,640
Speaker 4: think your best money habit is? We need to learn

529
00:23:55,640 --> 00:23:56,520
Speaker 4: from you, my friend.

530
00:23:58,320 --> 00:24:02,320
Speaker 5: So I would say my best man habit is, I'm

531
00:24:02,560 --> 00:24:05,560
Speaker 5: really good at budgeting, and you know, I know what's

532
00:24:05,600 --> 00:24:08,080
Speaker 5: coming in and coming out at any given time of

533
00:24:08,200 --> 00:24:10,679
Speaker 5: the week or whatever. So I have a you know,

534
00:24:10,800 --> 00:24:13,960
Speaker 5: general budget that we stick to. But I always check

535
00:24:14,000 --> 00:24:16,000
Speaker 5: each week, you know, do we have something extra? Do

536
00:24:16,040 --> 00:24:17,719
Speaker 5: we have a wedding coming up? That I need to

537
00:24:17,840 --> 00:24:20,760
Speaker 5: put aside money for a gift for whatever. So I

538
00:24:20,800 --> 00:24:22,800
Speaker 5: do have a lot of different accounts, like we've got

539
00:24:22,840 --> 00:24:26,399
Speaker 5: gift fund, regio fund, all different accounts like that. But

540
00:24:26,720 --> 00:24:29,200
Speaker 5: for me, it's just so good to have it all

541
00:24:29,200 --> 00:24:32,399
Speaker 5: separated and I can see what we've got for each

542
00:24:32,680 --> 00:24:33,719
Speaker 5: necessary item.

543
00:24:34,000 --> 00:24:36,720
Speaker 2: Yeah, that's so exciting. I love budgeting as well.

544
00:24:36,840 --> 00:24:39,280
Speaker 4: I am biased, but I would say that's one of

545
00:24:39,320 --> 00:24:42,800
Speaker 4: my best skills because it's automated. Do you automate your

546
00:24:42,840 --> 00:24:44,879
Speaker 4: budget or is this something that you go in and

547
00:24:45,080 --> 00:24:48,280
Speaker 4: manually change things and flip them around? Like what does

548
00:24:48,280 --> 00:24:49,840
Speaker 4: that budgeting process look like?

549
00:24:50,520 --> 00:24:53,760
Speaker 5: I don't automate it. I probably could. I like to

550
00:24:53,840 --> 00:24:56,440
Speaker 5: just do it myself and know it's done correctly. Though.

551
00:24:56,600 --> 00:24:58,840
Speaker 2: Oh that's definitely a thing. That's good.

552
00:24:59,200 --> 00:25:02,399
Speaker 5: Yeah, So I just go through, you know, when the

553
00:25:02,400 --> 00:25:05,520
Speaker 5: pay comes in, I'm like, okay, cool, let's distribute those

554
00:25:06,280 --> 00:25:08,400
Speaker 5: necessary funds to those accounts.

555
00:25:08,440 --> 00:25:12,040
Speaker 4: So yeah, no, it makes absolute sense. Flipping the narrative though,

556
00:25:12,080 --> 00:25:13,720
Speaker 4: what's your worst money habit?

557
00:25:14,080 --> 00:25:18,240
Speaker 5: So I asked my husband this because I wasn't sure

558
00:25:18,280 --> 00:25:22,040
Speaker 5: what to say, and he answered very quickly that I

559
00:25:22,080 --> 00:25:25,280
Speaker 5: definitely don't treat myself enough. That's been a bit of

560
00:25:25,320 --> 00:25:26,280
Speaker 5: an issue for us.

561
00:25:26,680 --> 00:25:28,119
Speaker 2: Oh what a honey.

562
00:25:29,119 --> 00:25:31,640
Speaker 5: He's always saying, like, just go and get your nails done,

563
00:25:31,680 --> 00:25:33,920
Speaker 5: just do this. But I think I definitely have a

564
00:25:33,920 --> 00:25:36,880
Speaker 5: little bit of an obsessive personality. And I'm like, no,

565
00:25:36,960 --> 00:25:39,080
Speaker 5: I either do it every week or I don't do

566
00:25:39,119 --> 00:25:40,840
Speaker 5: it at all, Like I'm either budgeting for this or

567
00:25:40,880 --> 00:25:41,199
Speaker 5: I'm not.

568
00:25:41,520 --> 00:25:44,040
Speaker 4: So yeah, I'm like that. I'm an all in kind

569
00:25:44,040 --> 00:25:46,600
Speaker 4: of girly like it's all or nothing for me. Like

570
00:25:46,720 --> 00:25:49,480
Speaker 4: if I am getting my lashes done, I'm getting them

571
00:25:49,520 --> 00:25:51,440
Speaker 4: every two weeks and we are committed to.

572
00:25:51,400 --> 00:25:53,679
Speaker 2: The cause I don't want them one off.

573
00:25:53,600 --> 00:25:55,679
Speaker 4: Because I feel like I'll get used to them, Like

574
00:25:55,760 --> 00:25:58,000
Speaker 4: if I budgeted just once, I'll be like, well now

575
00:25:58,040 --> 00:25:59,520
Speaker 4: I don't want to get rid of them, like if

576
00:25:59,560 --> 00:26:01,879
Speaker 4: I can't thought it ongoing, like I can't afford it

577
00:26:01,920 --> 00:26:04,040
Speaker 4: because I can't afford it mentally to be taken off me.

578
00:26:05,119 --> 00:26:07,639
Speaker 5: Yes, I'm the same, like it's easier to not do

579
00:26:07,720 --> 00:26:09,280
Speaker 5: it than to miss out one time.

580
00:26:09,560 --> 00:26:10,720
Speaker 2: Yep, No, I agree.

581
00:26:10,760 --> 00:26:12,879
Speaker 4: It's so silly though, hey, because you're like, oh, but

582
00:26:13,040 --> 00:26:15,399
Speaker 4: like getting your nails done once should be a little

583
00:26:15,440 --> 00:26:18,000
Speaker 4: treaty treat exactly.

584
00:26:18,480 --> 00:26:20,920
Speaker 5: So yeah, that's definitely my worst money habit. I think

585
00:26:21,000 --> 00:26:24,080
Speaker 5: I still stress. I still have that scarcity mindset of

586
00:26:24,119 --> 00:26:26,040
Speaker 5: oh my goodness, like there's a bit of trauma bay,

587
00:26:26,119 --> 00:26:28,760
Speaker 5: I think from what we've gone through. So yeah, I

588
00:26:28,760 --> 00:26:30,400
Speaker 5: think I still think, oh no, we're going to get

589
00:26:30,400 --> 00:26:32,840
Speaker 5: another tax bill, but it's all done. My husband has

590
00:26:32,840 --> 00:26:35,560
Speaker 5: a wager's job now, so it's not going to happen.

591
00:26:35,640 --> 00:26:38,680
Speaker 4: Oh okay, So that really takes the pressure off, especially

592
00:26:38,680 --> 00:26:42,399
Speaker 4: that side of things. And also the stability is probably

593
00:26:42,480 --> 00:26:47,440
Speaker 4: very attractive. Hey oh yes, definitely, subcontracting can be quite

594
00:26:47,480 --> 00:26:51,560
Speaker 4: tough because albeit really good rates, it's not consistent.

595
00:26:52,040 --> 00:26:56,000
Speaker 5: Yes, exactly, like he was earning such good money, but

596
00:26:56,080 --> 00:26:59,720
Speaker 5: I would prefer a consistent pay each week any day. Then, yeah,

597
00:26:59,800 --> 00:27:01,159
Speaker 5: you sporadic.

598
00:27:00,760 --> 00:27:03,880
Speaker 4: Payments well literally, all right, money dives. At the very

599
00:27:04,040 --> 00:27:06,560
Speaker 4: start of the show, you said you thought you're a

600
00:27:06,560 --> 00:27:09,880
Speaker 4: B minus and I'm hearing a lot about how good

601
00:27:09,880 --> 00:27:12,400
Speaker 4: you are with money and you're smashing down debt and

602
00:27:12,480 --> 00:27:16,119
Speaker 4: like basically being a queen juggling family life and work

603
00:27:16,160 --> 00:27:19,479
Speaker 4: and your husband's work and everything else in between. Do

604
00:27:19,520 --> 00:27:21,919
Speaker 4: you still think you're a B minus? If so, why,

605
00:27:22,280 --> 00:27:24,280
Speaker 4: if not, what do you think you are now?

606
00:27:24,600 --> 00:27:27,960
Speaker 5: Look, I probably could be a little bit more generous

607
00:27:28,000 --> 00:27:30,840
Speaker 5: with myself. I think I'm definitely in the B range. Like,

608
00:27:31,400 --> 00:27:34,440
Speaker 5: I'm still working on getting our budget to the best

609
00:27:34,440 --> 00:27:36,680
Speaker 5: it can be, so you know, I feel like we've

610
00:27:36,680 --> 00:27:39,480
Speaker 5: got a bit more room for improvement, and I think,

611
00:27:39,560 --> 00:27:41,879
Speaker 5: you know, what we've achieved has been amazing. But I

612
00:27:41,880 --> 00:27:43,760
Speaker 5: think once we get to that next stage and I

613
00:27:43,760 --> 00:27:45,720
Speaker 5: can see that we're able to say, for a home

614
00:27:45,800 --> 00:27:48,919
Speaker 5: and pay a deposit, then I'll definitely put myself up

615
00:27:48,960 --> 00:27:50,000
Speaker 5: into that A range.

616
00:27:50,040 --> 00:27:50,640
Speaker 2: I love it well.

617
00:27:50,680 --> 00:27:53,640
Speaker 4: I can take you immediately to at least a B plus,

618
00:27:53,680 --> 00:27:56,119
Speaker 4: maybe an A minus because I'm going to give you

619
00:27:56,119 --> 00:27:57,040
Speaker 4: my money masterclass.

620
00:27:57,080 --> 00:27:58,640
Speaker 2: You've said a couple of times that you want.

621
00:27:58,560 --> 00:28:00,800
Speaker 4: To just get a little bit more on top of

622
00:28:00,800 --> 00:28:03,600
Speaker 4: your budgeting, and like, I don't mean to be biased,

623
00:28:03,640 --> 00:28:05,159
Speaker 4: but I'm pretty good at it, and it made a

624
00:28:05,200 --> 00:28:07,760
Speaker 4: whole money masterclass so that I can basically do it

625
00:28:07,840 --> 00:28:10,560
Speaker 4: for you. And if you love a spreadsheet, this one

626
00:28:10,640 --> 00:28:12,960
Speaker 4: is all automated for you and then obviously has a

627
00:28:12,960 --> 00:28:15,080
Speaker 4: whole heap of like videos to get back on top

628
00:28:15,119 --> 00:28:15,400
Speaker 4: of it.

629
00:28:15,760 --> 00:28:16,480
Speaker 2: And at this.

630
00:28:16,600 --> 00:28:19,080
Speaker 4: Point, I feel like they might be really constructive for

631
00:28:19,160 --> 00:28:21,240
Speaker 4: you and your husband to sit down and do because

632
00:28:21,280 --> 00:28:23,720
Speaker 4: it goes through a lot about like money stories and

633
00:28:23,800 --> 00:28:27,359
Speaker 4: money mindsets, so that this next chapter of your money

634
00:28:27,440 --> 00:28:30,600
Speaker 4: life can be, you know, starting exactly on the same

635
00:28:30,640 --> 00:28:33,560
Speaker 4: page and maybe having deeper discussions about you know, where

636
00:28:33,600 --> 00:28:37,280
Speaker 4: he's come from, because you mentioned before he moves countries twice,

637
00:28:37,359 --> 00:28:39,480
Speaker 4: and you know you're meeting in the middle. I reckon

638
00:28:39,480 --> 00:28:41,760
Speaker 4: we could make that middle a little bit clearer so

639
00:28:41,800 --> 00:28:44,280
Speaker 4: that you can both be super excited for the next

640
00:28:44,360 --> 00:28:46,040
Speaker 4: chapter ahead. So I'm going to give that to you

641
00:28:46,440 --> 00:28:47,840
Speaker 4: because I just think it's gonna help.

642
00:28:48,560 --> 00:28:50,720
Speaker 5: Thank you so much. I'm so excited.

643
00:28:50,840 --> 00:28:53,440
Speaker 4: Well, after the show, I'm gonna slip into your emails

644
00:28:53,480 --> 00:28:55,600
Speaker 4: and make sure all of that is set up. But

645
00:28:56,400 --> 00:28:58,680
Speaker 4: I'm excited that you think that you're on the way

646
00:28:58,760 --> 00:29:02,560
Speaker 4: and that we are both on the same page. But Moneys, unfortunately,

647
00:29:02,600 --> 00:29:04,520
Speaker 4: that is all we have time for today. It has

648
00:29:04,560 --> 00:29:07,720
Speaker 4: been an absolute pleasure getting to know you. And as

649
00:29:07,760 --> 00:29:10,440
Speaker 4: I said at the very start, before we even started recording,

650
00:29:10,640 --> 00:29:13,160
Speaker 4: you just look so familiar and you sound so familiar.

651
00:29:13,280 --> 00:29:14,920
Speaker 2: So I am convinced.

652
00:29:14,440 --> 00:29:17,520
Speaker 4: We've cross paths before, but I know the community is

653
00:29:17,520 --> 00:29:19,480
Speaker 4: going to love your story as much as I have

654
00:29:19,600 --> 00:29:21,960
Speaker 4: loved hearing it, so thank you so much for sharing it.

655
00:29:21,960 --> 00:29:23,600
Speaker 2: It has been an absolute pleasure.

656
00:29:23,880 --> 00:29:26,480
Speaker 5: Thank you so much for having me. I really appreciate it.

657
00:29:34,240 --> 00:29:36,800
Speaker 4: The advice shared on She's on the Money is general

658
00:29:36,840 --> 00:29:40,720
Speaker 4: in nature and does not consider your individual circumstances. She's

659
00:29:40,760 --> 00:29:44,160
Speaker 4: on the Money exists purely for educational purposes and should

660
00:29:44,240 --> 00:29:47,400
Speaker 4: not be relied upon to make an investment or financial decision.

661
00:29:47,800 --> 00:29:50,400
Speaker 2: If you do choose to buy a financial product, read.

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00:29:50,280 --> 00:29:54,400
Speaker 4: The PDS TMD and obtain appropriate financial advice tailored towards

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00:29:54,440 --> 00:29:57,720
Speaker 4: your needs. Victoria Divine and She's on the Money are

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00:29:57,760 --> 00:30:01,040
Speaker 4: authorized representatives of money show the p T y L

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00:30:01,080 --> 00:30:03,720
Speaker 4: t D A b N three two one six four

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00:30:03,800 --> 00:30:06,800
Speaker 4: nine two seven seven zero eight A F S L

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00:30:06,920 --> 00:30:10,800
Speaker 4: four five one two eight nine