Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order Kerni Whoalbury 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 4: Hello, and welcome to She on the Money the podcast
Speaker 4: Millennials who want financial freedom. Welcome back to another one
Speaker 4: of our Money Daries episodes where I get the absolute
Speaker 4: pleasure of sitting down with one of our She's on
Speaker 4: the Money community members and learning all about their journey.
Speaker 4: Let's jump straight into it, because this week I got
Speaker 4: a message and it sounded a lot like this.
Speaker 2: Hi, She's on the Money.
Speaker 4: At twenty eight, after ten years of travel, fun work
Speaker 4: and a bunch of health issues, I decided to change careers.
Speaker 4: I was broke starting over and owned nothing at thirty eight.
Speaker 4: I've kicked off a twelve year plan to retire by fifty. Money, Darrist,
Speaker 4: retire by fifty and you only started recently?
Speaker 2: What the hecking?
Speaker 5: How it's the plan that started this year? Like, I'm
Speaker 5: hyper focused on it, on both things in life.
Speaker 4: Well, we need to know how you're going to do it,
Speaker 4: because that's an epic plan. And also who doesn't want
Speaker 4: to retire at fifty? Like I think everyone listening is
Speaker 4: going to go, yup. I want your advice?
Speaker 2: What are you doing? Tell us?
Speaker 4: So let's dive straight in money, Darist. So I asked
Speaker 4: you to give your money habits a grade from A
Speaker 4: three to F What would you give yourself?
Speaker 5: I think that I'm a solid B plus.
Speaker 4: A B plus and you're still planning on retiring early,
Speaker 4: Like this is giving me hope for me? All right,
Speaker 4: let's dive in further. My favorite question, as always is money, Darrist.
Speaker 4: Can you tell us a little bit more about your
Speaker 4: money story.
Speaker 5: I come from a real working class family. I'm the
Speaker 5: youngest four kids. My parents met later in life, and
Speaker 5: my mum tells the story that when they got married,
Speaker 5: they had five hundred dollars in the bank account, and
Speaker 5: I feel like that's really how my life has translated
Speaker 5: as well. I don't know how they did it exactly,
Speaker 5: but all of us kids just had this work ethic
Speaker 5: from a very young age. We all started working as
Speaker 5: soon as we could. I remember delivering pamphlets and doing
Speaker 5: all those sorts of jobs when I was a kid
Speaker 5: with my older brother and sister. I started working when
Speaker 5: I was fourteen for Coles.
Speaker 2: Oh good, great first job.
Speaker 5: Well it was a long first job. I worked there
Speaker 5: for ten years.
Speaker 2: Oh epic, yeap, so I work.
Speaker 5: They're all through high school and all through university. I
Speaker 5: was the first one in my family to go to university.
Speaker 2: Oh congrats, how exciting.
Speaker 5: Thank you. It had its own challenges, though, because I
Speaker 5: was the first one. I felt like I also lacked
Speaker 5: a lot of direction.
Speaker 4: You were like, I don't know what I meant to
Speaker 4: be doing here. What do you mean I have to
Speaker 4: self plan my studying. No one around me has ever
Speaker 4: done this. What the hecking?
Speaker 2: It's not like school, is it.
Speaker 1: No?
Speaker 5: And I was working full time at the same time,
Speaker 5: I was having a good time. I was partying, I
Speaker 5: was making memories with friends, doing all the things you
Speaker 5: should do.
Speaker 2: Oh, you were doing everything. You were busy. Busy, Yeah,
Speaker 2: I was busy.
Speaker 5: I always had a focus, you know. I was always
Speaker 5: good at saving for something that I wanted, So you know,
Speaker 5: obviously the first target for everyone in a car go
Speaker 5: to schoolies.
Speaker 2: Oh yes, so did all that.
Speaker 5: And then when I was twenty one, I did an
Speaker 5: around the world trip with some friends. I took eight
Speaker 5: weeks off work and we went around the world and
Speaker 5: it was just like such an eye opening experience for me.
Speaker 4: Do you remember what that cost you? Because that is wild.
Speaker 4: Eight weeks would have been spin.
Speaker 5: Off considering I'm thirty eight, though, you have to like
Speaker 5: it probably was something like eight thousand dollars back then.
Speaker 5: I remember the airfare was seventeen hundred dollars.
Speaker 2: That must be nice.
Speaker 5: Yeah, it was fun. I still spent everything that I
Speaker 5: had in my bank account and came back home.
Speaker 4: I feel like that's a ride of passage, though, like,
Speaker 4: if you're going to do that, you have to spend
Speaker 4: everything and come home with like twenty two cents and
Speaker 4: start from scratch, like there's no in between.
Speaker 5: Negative two thousand dollars more likely.
Speaker 2: Yeah, there you go.
Speaker 5: Yes, I came home and I started saving again, and
Speaker 5: I thought, you know, that was so much fun. I
Speaker 5: am going to go live in London like everyone else
Speaker 5: who's twenty one and wants to move over to the
Speaker 5: ease and have those fun couple of years. So I
Speaker 5: remember this one. I saved up forty thousand dollars or what.
Speaker 5: Full disclosure. I was living with my family on and
Speaker 5: off in this period. I moved out when I was nineteen,
Speaker 5: but when I decided to move over Steves, I moved
Speaker 5: back home when I was twenty three, and I lived
Speaker 5: with my parents for a year and I saved up
Speaker 5: forty thousand dollars.
Speaker 4: Forty thousand dollars in a year is epic, Like if
Speaker 4: I moved back in with my parents and saved forty
Speaker 4: grand I'd be over the moon. Like that's halfway to
Speaker 4: a home deposit. In fact, in some situations that's a
Speaker 4: whole home deposit.
Speaker 5: Yeah, and in retrospect, probably money better spent.
Speaker 4: No, we don't regret past things. That's not on the
Speaker 4: cards here.
Speaker 5: I have no regrets in life.
Speaker 2: I really don't good.
Speaker 5: And so I took a year off and I backpacked
Speaker 5: for a year, and I spent every cent of that
Speaker 5: forty thousand dollars and I ended up in London on
Speaker 5: someone so far who I'd met in Europe, and I
Speaker 5: ended up staying there for two years. Really fun, you know,
Speaker 5: did all the things you're supposed to do, traveled whenever
Speaker 5: I could, worked.
Speaker 2: Five jobs, oh my gosh.
Speaker 5: Did whatever I had to do to get the money
Speaker 5: flowing in, and take weekend trips to Malta, to Italy
Speaker 5: wherever I could go.
Speaker 2: All right, it must be nice.
Speaker 5: What's really fun? I definitely am pushing all the young
Speaker 5: people in my life. I'm like, just drop what you're
Speaker 5: doing and.
Speaker 2: Just going I love that so much.
Speaker 4: I didn't get to do that right of passage, and like,
Speaker 4: while I don't regret it because I feel like I've
Speaker 4: ended up where I need to be. Also, like in
Speaker 4: the US, when I hear about other people's adventures, I'm like,
Speaker 4: I'm not that cool, like and you know what, I'm
Speaker 4: actually so type A that I don't think I could
Speaker 4: have ever done any type of travel that wasn't like
Speaker 4: booked and planned and spreadsheeted out. So when you say
Speaker 4: I ended up on someone's couch i met them in Europe,
Speaker 4: I'm just like, that sounds so cool and so unlike me,
Speaker 4: like I could never.
Speaker 5: Each So you know, I'm a twin and my twin
Speaker 5: sister didn't come with me, and it was the first
Speaker 5: time we'd ever spent time apart, and it was a
Speaker 5: real shock, and she didn't come. I tried to talk
Speaker 5: her into coming. I tried to get her to stay
Speaker 5: when she came and visited, and it just wasn't her thing.
Speaker 5: And she doesn't regret it at all either. She knows
Speaker 5: that we had a great time.
Speaker 4: Yeah, she's more like me, like if there's no control,
Speaker 4: like I'm out, Like I can't deal with that, and
Speaker 4: that's very her.
Speaker 5: So yeah, like everyone has what they want to do
Speaker 5: on their list, like she did things differently and we
Speaker 5: read united it obviously, of course, relationships stronger than ever.
Speaker 2: I love this. So then more happened.
Speaker 5: So I did come home for a little bit in between,
Speaker 5: and I felt really like a fish out of water.
Speaker 5: I didn't know what I wanted out of life. I
Speaker 5: didn't know where I wanted to live. A lot of
Speaker 5: my friends were scattered around the world. I've lost contact
Speaker 5: with a lot of friends. So I decided to go
Speaker 5: back Epathees and I went to Canada, free year.
Speaker 2: Oh, Canada's beautiful, good choice.
Speaker 5: Yeah, And it was really difficult actually to find a
Speaker 5: job in Canada. It's a slower pace. It takes real
Speaker 5: time to like get a proper job and put in
Speaker 5: roots there. So I kind of felt like I was
Speaker 5: capable of more, and I'm like, what am I doing?
Speaker 5: Like I've had this degree from when I was nineteen,
Speaker 5: I've done absolutely nothing with it, and so at that
Speaker 5: point I was quite unwell as well. So I decided
Speaker 5: to come home and just sort of focus on what
Speaker 5: I wanted to do. And the big sort of deciding
Speaker 5: factor was that it sounds ridiculous now, but I wanted
Speaker 5: an office job. I wanted to be able to feel
Speaker 5: comfortable at work, you know, not before my feet talking
Speaker 5: to people all day. I've been in sales for a
Speaker 5: really long time throughout my whole life, and you know,
Speaker 5: with the illness being so i've diagnosed at that point
Speaker 5: and unsure what was going on, I just felt like
Speaker 5: a comfortable spot which be sitting at.
Speaker 2: About doing something that's fair.
Speaker 5: So I looked into my options and I always had
Speaker 5: an interest in accounting and finance, and I was always
Speaker 5: sort of focused on.
Speaker 2: That very sexy topic I've heard.
Speaker 5: Yeah, so I decided to do my masters. I came home,
Speaker 5: I rolled in masters. I took back an old job.
Speaker 5: So at the time in between, I was working as
Speaker 5: a travel agent.
Speaker 2: Oh, that would have been perfect.
Speaker 4: You had traveled so much, so you would have had
Speaker 4: so many good recommendations and known how to book and
Speaker 4: get stuff done, like you would have been a perfect
Speaker 4: travel agent.
Speaker 5: I ended up working for a really successful travel agent
Speaker 5: who had her own office, so she was so busy
Speaker 5: she couldn't keep up with her own workload. So she
Speaker 5: paid me a casual rate to just come sit at
Speaker 5: her house into a hall her work for her, which
Speaker 5: was perfect. It took all the stress of the job
Speaker 5: out of it, and I had an hourly rate coming
Speaker 5: in and I could go study and not stress about work.
Speaker 2: Oh how good.
Speaker 4: And you still got to like flourish in an area
Speaker 4: that you like knew really well.
Speaker 2: I love that.
Speaker 5: Yeah, it's really fun. So I got my masters, and
Speaker 5: I by the time i'd done all of that, I
Speaker 5: was turning thirty, and I was starting to feel the pressure,
Speaker 5: like I don't own anything, I'm still broke. I'm probably
Speaker 5: going to have to take a grad position. And start
Speaker 5: from the bottom up. So that was all a bit terrifying.
Speaker 5: So I took a grad position and I was back
Speaker 5: to fifty K.
Speaker 2: You took a grad position in what give us some context?
Speaker 5: So I did actually originally take a grad position in
Speaker 5: Big four accounting. Yeah, it was not for me.
Speaker 2: It's not for me either. Bad.
Speaker 5: I was thirty, I'd been working for fifteen years. I
Speaker 5: was definitely not in the same headspace ll life what
Speaker 5: for word as.
Speaker 2: Your peers just we were in the same chapter of
Speaker 2: that book.
Speaker 5: No, And also I wasn't really willing to work eighty
Speaker 5: hours a week in a job to work my way
Speaker 5: to the top when I had been doing that my
Speaker 5: entire life.
Speaker 4: What do you mean, But that's so expected, don't you
Speaker 4: sell your soul?
Speaker 5: Yeah?
Speaker 2: Exactly, And I wasn't so And you should be grateful
Speaker 2: to them.
Speaker 5: Should I tell way too many people that I quit
Speaker 5: their job after five months, they probably a like want
Speaker 5: me to sign something to say I never worked there.
Speaker 4: They're like, please stop talking trash about us, And you
Speaker 4: were like, can't stop, word stop.
Speaker 2: Sorry, Yeah, it's horrible.
Speaker 5: I actually made a couple of really great friends. And
Speaker 5: this is the thing. Everything that I've done in life.
Speaker 5: I've taken a friend with me, no regrets, like everything's
Speaker 5: been great. So I ended up calling the travel company
Speaker 5: that I used to work for as an agent and said,
Speaker 5: I've just finished my accounting degree, my master's I'm going
Speaker 5: to do my CPA, like you got anything for me?
Speaker 5: And so they acquired me. Oh how cool, which was
Speaker 5: much better, much more on my speed talking about travel,
Speaker 5: which is always fun for me. That's sort of the
Speaker 5: start of my finance accounting career, I suppose adore, and
Speaker 5: so I've just been building my career from there. So thirty,
Speaker 5: I was just so hyper focused on buying a house
Speaker 5: and finding somewhere to live and putting roots down where
Speaker 5: I was and just being here and not you know,
Speaker 5: feeling the need to jump on a plane and run
Speaker 5: away again.
Speaker 4: I love that. So tell me about today. What do
Speaker 4: you do for work? How much money are you earning?
Speaker 5: So I work as a financial controller.
Speaker 2: Your big dog job.
Speaker 5: Yes, I've been working for about four years since a
Speaker 5: financial controller and my current salary is one hundred and
Speaker 5: thirty thousand plus.
Speaker 2: Super very nice.
Speaker 5: Yeah, and I also have a side job, a side hustle.
Speaker 2: I suppose that work ethic hasn't stopped, has it.
Speaker 5: No, So I earn about fifteen thousand a year from that.
Speaker 2: What do you do? Is it online? Is it out?
Speaker 2: What type of role is that?
Speaker 5: So I bought a private business with a few friends
Speaker 5: and we run the business together. I obviously don't work
Speaker 5: in the business full time. Two of my colleagues work
Speaker 5: full time in the business, and two of us have
Speaker 5: full time jobs and do this on the side. So
Speaker 5: it's a business that I worked in for many years
Speaker 5: and we have a real passion for it and we
Speaker 5: want to find a business to buy. And it took
Speaker 5: some time, but we found one and we bought it
Speaker 5: in December of last year. So I'm a minor stakeholder.
Speaker 2: How cool is that? And then you've got an income
Speaker 2: coming from that.
Speaker 5: Yeah. So obviously the end goal for me, I think
Speaker 5: would be to step full time into that business. Yeah,
Speaker 5: but it's got a lot of growth to happen before
Speaker 5: that can support another salary.
Speaker 2: Yeah, of course.
Speaker 4: Oh my gosh, how exciting is that. So let's get
Speaker 4: back to your big money goals. I know you said
Speaker 4: earlier when you wrote in your planning on retiring at
Speaker 4: fifty and you've got a twelve year plan. Would you
Speaker 4: say that's your big money goal? Yes, So tell me
Speaker 4: more about that. How does that work? How do you
Speaker 4: know it's going to take twelve years? How did you
Speaker 4: work it all out?
Speaker 5: So I guess because I've been working for so long,
Speaker 5: I just kind of had this picture in my head
Speaker 5: of working to sixty seven and going that is not fun.
Speaker 5: Most people get to sixty seven they're either unwell or
Speaker 5: they can't travel, they can't do the things they want
Speaker 5: to do, and it just gave me really sad, to
Speaker 5: be honest, and I thought, fifty is a great age.
Speaker 5: You're still young, you can still travel, you can spend
Speaker 5: time with friends and family. So I just have it
Speaker 5: in my head that fifties the day I'm going to
Speaker 5: stop working. And I worked backwards from there, so I
Speaker 5: was like, how much money do I need? What do
Speaker 5: I need to have done? So there's a few things
Speaker 5: I need to have paid off my home yeap, and
Speaker 5: then I need to have enough money to live off
Speaker 5: between fifty and sixty seven until my super can kick it.
Speaker 5: And then my super has to be sufficient to do
Speaker 5: the sixty seven onwards. Yeah.
Speaker 2: Great.
Speaker 5: Yeah, So at the moment, I'm thinking I need about
Speaker 5: six hundred thousand in my share portfolio. To do that,
Speaker 5: I've got to invest about four to five hundred dollars
Speaker 5: a week into the portfolio from now until fifty.
Speaker 2: Yep.
Speaker 5: And I think I've used conservative numbers. Maybe not. Maybe
Speaker 5: it's going to go up and down.
Speaker 4: And we want to be conservative because I'd like to
Speaker 4: underpromise and then over deliver instead of being absolutely stumped.
Speaker 5: Yeah, and look, the reality is is I'll get to
Speaker 5: fifty and I'll be like, oh for more years and
Speaker 5: then maybe I'll you know, buy something, or you know,
Speaker 5: reality will set in.
Speaker 4: Okay, it might change, or you might go, you know,
Speaker 4: I'm not ready to stop working. I actually want to
Speaker 4: do you know, some part time stuff and maybe you
Speaker 4: travel for six months of the year and then come
Speaker 4: back to work and like balance it. Differently, I feel
Speaker 4: like the word retirement sucks because people just assume it's
Speaker 4: old and it's boring and you sit at home and
Speaker 4: you like go for walks like it's not good. You're
Speaker 4: actually reaching financial freedom at fifty, and that gives you
Speaker 4: the opportunity to choose and like, nobody's in that situation
Speaker 4: right where you can go.
Speaker 2: Do I want to work. Yeah.
Speaker 4: No, Like, imagine being in the situation where you're like,
Speaker 4: I don't have to go to work anymore, in no worries, like.
Speaker 5: What Yeah, And that's what I'm aiming for, is flexibility.
Speaker 5: That's the one thing that really lacks in you know,
Speaker 5: a nine to five.
Speaker 2: How much did you calculate that you need in your superannuation?
Speaker 5: So I was hoping to get about the same amount
Speaker 5: in my super, about six hundred and fifty thousand, because
Speaker 5: I figure it'll keep compounding after fifty a sort of.
Speaker 5: I think I wanted it to have over a million
Speaker 5: by the time I was sixty seven, which I think
Speaker 5: it will. I'd probably have to see someone at some
Speaker 5: point to kind of sound boarded out and make sure
Speaker 5: that my numbers are right. But at the moment, this
Speaker 5: is the back of the napkin kind of calculation.
Speaker 1: No.
Speaker 4: I like it because if you've got six hundred thousand
Speaker 4: dollars in each of those, by the time you reach
Speaker 4: that goal of sixty seven, you would probably have about
Speaker 4: one point two million in super and that will give
Speaker 4: you an income of about sixty thousand dollars, which is
Speaker 4: pretty sexy if you've already paid off your house, because
Speaker 4: then you don't have mortgage or payments, and then from
Speaker 4: then on in it will depend on whether you're drawing
Speaker 4: down that sixty thousand dollars at which point the compounding
Speaker 4: stops and you just consistently take that, or you know,
Speaker 4: you seem up and about like you do not look
Speaker 4: like you're going to retire at fifty forever. Like it's
Speaker 4: a good plan, but like your work ethic, I think
Speaker 4: is going to come through. So I wouldn't be surprised
Speaker 4: if you're like, oh, I'll just do some odd jobs,
Speaker 4: or I'll well, you know, work part time, or I'll
Speaker 4: do this and then stop for a bit and then
Speaker 4: go back. So I wouldn't be surprised if you top
Speaker 4: it up a few times. But if you let it compound,
Speaker 4: that one point two million dollars ten years from then
Speaker 4: would then be two point four. So it just depends
Speaker 4: on what you want to do and what that looks like.
Speaker 5: Yeah, if I live a pretty lean life, so sixty
Speaker 5: thousand to me is a pretty good number to eight for.
Speaker 5: But the reality is is, like you probably want to
Speaker 5: go on really nice holidays. You probably want to try
Speaker 5: and do some business class airfairs, maybe.
Speaker 4: So yeah, when I was a financial plannarias to talk
Speaker 4: to people about that, and it's very serious because I
Speaker 4: think if you sit down and you know, I said
Speaker 4: to you, all right, well, your situation right now, you're
Speaker 4: earning one thirty plus super like you're saving and investing,
Speaker 4: so you know, let's strip it back and pretend that
Speaker 4: you were on you know, eighty thousand dollars a year.
Speaker 2: Would that be enough?
Speaker 4: And you go, well, yeah, eighty thousand, that would be
Speaker 4: great if I didn't have a mortgage. But the reality
Speaker 4: of retirement is you have a lot more free time,
Speaker 4: and when you have free time, you spend more money.
Speaker 4: You're not going to work every day and packing your
Speaker 4: lunch and it's all good. Like if you're home twenty
Speaker 4: four seven eating lunch at home, you're probably not that
Speaker 4: enthusiastic about You're probably planning more holidays, You're probably going
Speaker 4: out for more coffees. Like, we actually have a bit
Speaker 4: more of a luxurious lifestyle. And I'm not saying that
Speaker 4: everyone is afforded that, but if we're planning for it, Like,
Speaker 4: I want you to have the best retirement ever, Like
Speaker 4: I want you to be completely financially free, not financially
Speaker 4: constricted and free.
Speaker 2: So it's different for everybody. But I'm always like.
Speaker 4: No, you probably want to retire with a hire income
Speaker 4: than the one you earn right now, even though you
Speaker 4: probably don't want to hear that.
Speaker 5: I know. And that's the thing I'm battling with because
Speaker 5: my sister's quite often like, you know, you need to
Speaker 5: enjoy life too, and I definitely do. But she's like,
Speaker 5: go and spend some of your money, enjoy it, and
Speaker 5: I'm like, I am. I'm still traveling, I'm still going
Speaker 5: out for dinner, like I'm not holding back on anything.
Speaker 5: I'm a fine line between the hardcore fire and still
Speaker 5: living my life. Yeah.
Speaker 4: I think I've said this on the podcast before, and
Speaker 4: that's fire. So for those of you playing along at
Speaker 4: the home who haven't heard about fire, it's financial independence
Speaker 4: retire early. It's kind of a movement where a lot
Speaker 4: of people will prioritize saving and investing above and beyond lifestyle,
Speaker 4: so they'll save and invest like eighty percent of their
Speaker 4: income and that works so well. Like it's crazy the
Speaker 4: people that can do it, I applaud.
Speaker 2: I'm not that person.
Speaker 4: Like, I think it's been made very clear, like I'm
Speaker 4: a lifestyle girly, Like I don't think that I have
Speaker 4: enough delayed gratification to put it off You, my friend,
Speaker 4: probably way better at it than me, and you'll reap
Speaker 4: the benefits. But you know the marshmallow experiment with the kids,
Speaker 4: Like I ate the marshmallow straight up, Like I just
Speaker 4: ate it already, Like I didn't wait for two marshmallows
Speaker 4: to be put on my plate ten minutes later, like
Speaker 4: I have no chill, and I will be buying myself
Speaker 4: that oatmelk laate. But it's all about balance, right, And
Speaker 4: I look at you and I go, wait, I wish.
Speaker 2: I love it.
Speaker 4: I feel like I've got a couple of friends doing
Speaker 4: fire as well, and I mean when they do, I'm like, well,
Speaker 4: I'll just pay for the coffee. Yeah, Like I want
Speaker 4: them to achieve that, but like we're still going out
Speaker 4: for coffee.
Speaker 5: Yeah. Like I would never say no if a good
Speaker 5: friend said, do you want to meet me for lunch?
Speaker 5: I would never say no, no because of money. Never no.
Speaker 2: I love that.
Speaker 4: I feel like there needs to be some level of
Speaker 4: balance because at the end of the day, you were
Speaker 4: saying before, basically, old age is a privilege. Denied to many, right, like,
Speaker 4: not everybody gets to go and live that life, and
Speaker 4: if we're just working towards it and don't live life
Speaker 4: in the interim, like I don't.
Speaker 2: Know, maybe I'm justifying my spending.
Speaker 5: No, you're totally fine. You have to enjoy your life
Speaker 5: and you have to be happy, and that's my philosophy
Speaker 5: really exactly.
Speaker 4: All right, let's go to a really quick break on
Speaker 4: the flip side. I want to know more about your investments.
Speaker 4: I know that you've got a little holiday house we
Speaker 4: haven't touched on yet. I want to know about your
Speaker 4: debts and your best and worst money habits, because I
Speaker 4: feel like we have heaps to learn from you.
Speaker 2: So guys, don't go anywhere.
Speaker 4: All right, money dirice, We are back and you are
Speaker 4: investing every single month you mentioned before it's like five
Speaker 4: hundred dollars a week.
Speaker 2: Is that correct?
Speaker 5: Yeah, So I salary sacrificed two hundred and fifty a
Speaker 5: week into my super and then I do four hundred
Speaker 5: a week into the share portfolio.
Speaker 2: Who is she?
Speaker 4: That's crazy? So tell me about your investments. How did
Speaker 4: you pick them, how are you managing them? Where did
Speaker 4: the sauce start?
Speaker 5: This has been kicked off this year, so it was
Speaker 5: after my thirty eighth birthday I started, So we're probably
Speaker 5: five months in.
Speaker 2: That's okay.
Speaker 5: So I've really picked some random stuff to begin with,
Speaker 5: like anyone does. I just bought a few stocks that
Speaker 5: I was familiar with, some single stop. I also have
Speaker 5: some money invested in a business I used to work it,
Speaker 5: so all up in shares. I've got fifty thousand dollars.
Speaker 2: Oh my gosh, she's well on the way.
Speaker 5: Twenty five is tied up in the private business we're running,
Speaker 5: and then twenty five thousand is just ETF so random
Speaker 5: bank of ones. What everyone does. I think at some
Speaker 5: point I think once that gets to maybe fifty thousand,
Speaker 5: I probably should get some advice and make sure it's
Speaker 5: fall in the right thing, because I just hear you know,
Speaker 5: vas figihg, and I'm.
Speaker 4: Like, okay, correct, Yeah, I feel like so many people
Speaker 4: do that. They go, this is tried and true and tested,
Speaker 4: let's start here.
Speaker 5: Yes, So it's already had its ups and down, so
Speaker 5: I'm like kind of more comfortable with how it's going
Speaker 5: now at the moment. It's half between Cheresey's and race
Speaker 5: because I just didn't know which one was the right one. Yeah,
Speaker 5: So at some point someone's going to say to me, no,
Speaker 5: put it all hair and have it in one spot
Speaker 5: and do this, and that's what I'll do. But for
Speaker 5: now it's just started. So that's got about yeah, twenty
Speaker 5: five thousand.
Speaker 2: And it's how good. That's so exciting.
Speaker 5: In my super I've got one hundred and fifty thousand.
Speaker 2: Oh very nice.
Speaker 5: Yeah, I did have a few years away.
Speaker 4: I'm sorry, that's still so high. Like you're a baby,
Speaker 4: you're still thirty eight and you've got one fifty and super.
Speaker 5: Yes.
Speaker 2: Please.
Speaker 5: Also worth saying though, in the peak of COVID it
Speaker 5: was sixty five thousand dollars, so I don't know what
Speaker 5: that says about the share market, but like obviously it
Speaker 5: can come pretty quickly.
Speaker 4: I think, yeah, and that would be compounding. I don't
Speaker 4: want to scare anybody, but it's been a few years
Speaker 4: since COVID nineteen. In fact, it's been five years. Like
Speaker 4: that's actually wild, so compounding. And then also the markets
Speaker 4: were down during COVID, so like, I'm not surprised. I've
Speaker 4: been watching mine slowly, slowly get up and up, and
Speaker 4: I feel like it's it's had.
Speaker 2: A good run.
Speaker 4: So maybe it's time if you haven't looked at your
Speaker 4: super to go and look at it and put it
Speaker 4: in the right fund for you and the right risk
Speaker 4: profile to make sure you're in the best possible position.
Speaker 5: Yeah, so make sure that's alling growth and you.
Speaker 2: Know, doing what I wanted to do smart.
Speaker 5: And I have at the moment one hundred and fifty
Speaker 5: thousand in cash.
Speaker 2: Oh okay, big dog.
Speaker 5: It's in my offset for now because part of my
Speaker 5: strategy to pay the house off in ten years, So
Speaker 5: I kind of want to keep a big chunk in
Speaker 5: the offset, but I also like having that flexibility there
Speaker 5: that I should probably put fifty thousand of it into
Speaker 5: the share portfolio. Just a bit nervous to do that.
Speaker 4: I don't know why, because it's a big chunk of money,
Speaker 4: and it's very normal to be nervous about making big
Speaker 4: financial decisions on big chunks of money when it has
Speaker 4: your future at risk. I don't know if I'm overstepping
Speaker 4: here at all, But with everything that you've said, it
Speaker 4: sounds like you're well on the way to achieving this.
Speaker 2: But I know you said, oh, maybe when.
Speaker 4: I get to like fifty thousand in ETFs, I'll get
Speaker 4: some advice, my friend, I'd be talking to a financial advisor.
Speaker 4: Now you've got more than enough cash. You've got more
Speaker 4: than enough super like you are well on the way.
Speaker 4: Like I feel like when people are planning on retiring early,
Speaker 4: even when you're you know, just in a position where
Speaker 4: you do have a bit of cash and you want
Speaker 4: to make the right decisions. Like analysis paralysis, I feel
Speaker 4: it gets the best of us and making a decision
Speaker 4: sooner rather than later is going to put you in
Speaker 4: a better position sooner.
Speaker 2: So for me, I'd be like, yeah, actually, let me
Speaker 2: set you.
Speaker 4: Up with one of my financial advisor friends after the
Speaker 4: show if you're keen and we can get that ball rolling.
Speaker 5: Yeah, that's probably what I thought you would say. So, yeah,
Speaker 5: that's the cash, and then I have my home, and
Speaker 5: then I have an investment property that I own with
Speaker 5: my brother in.
Speaker 4: Law, which is very cool. So that's all your investments.
Speaker 4: I want to know about this property thing. So how
Speaker 4: did you come to own an investment property with someone else?
Speaker 5: So my brother in law has always had an apartment
Speaker 5: at the coast that we've stayed in all the time,
Speaker 5: and he did make a comment recently about me being
Speaker 5: a freeloader. Yeah, I shouldn't say recently. This is about
Speaker 5: three years ago.
Speaker 2: That's recent. Let's go with that.
Speaker 5: He had to sell that property because they bought their
Speaker 5: dream house in twenty twenty one and they had to
Speaker 5: make a few decisions and they decided to sell it,
Speaker 5: and he instantly regretted it, and he said, we need
Speaker 5: to buy something at the coast. And he goes, if
Speaker 5: we buy something, you're buying with us because you're there
Speaker 5: all the time.
Speaker 2: Yeah, yeah, yeah, you go to buy two.
Speaker 5: Yeah. So we actually called up a guy that lived
Speaker 5: in the building complex that he owned in previously, and
Speaker 5: he owned five units in the building, and we said,
Speaker 5: we want one. Yeah. He goes, give me X amount
Speaker 5: and it's yours, and so we took it.
Speaker 2: Oh my gosh, how good. That regret was real strong?
Speaker 5: Hey, oh so strong. I kind of say it's my
Speaker 5: investment property because on paper it's all in my name.
Speaker 2: Yeah.
Speaker 5: Because they bought the dream house, they couldn't actually buy it.
Speaker 4: Yeah, they couldn't get the finance for it immediately. Yeah, yeah, yeah,
Speaker 4: that makes sense.
Speaker 5: Yeah. We have a very trusting relationship and we contribute
Speaker 5: equally to everything. It's just in my name. So I'm
Speaker 5: kind of tapped out in terms of property, like I.
Speaker 4: Was gonna say, you'd be tapped out in terms of
Speaker 4: borrowing capacity now, yes, yeah.
Speaker 5: Which is the only downside. But obviously it's a family
Speaker 5: holiday house. We have so many good memories there. We
Speaker 5: have a really good time every time we go.
Speaker 2: But also it's a good investment, it sounds like, and
Speaker 2: it's a good investment.
Speaker 5: So we maid five hundred and seventy thousand for it,
Speaker 5: and they just sold two in the building, but they're
Speaker 5: all completely identical and they sold for seven twenty.
Speaker 2: Oh very nice.
Speaker 5: Yeah, so it's been a good investment.
Speaker 1: Yeah.
Speaker 2: Great, And what is the mortgage on that sitting at.
Speaker 5: That sitting at four hundred and seventy five.
Speaker 4: Thousand, Okay, so you're sitting pretty on that. I feel like,
Speaker 4: even though it ties you up for borrowing capacity for
Speaker 4: a short period of time, it's actually not the end
Speaker 4: of the world because it's a good investment anyway, And
Speaker 4: what would have you done with borrowing capacity by a
Speaker 4: property to be in exactly the same position. And it's
Speaker 4: probably gotten you ahead in terms of cash flow as well,
Speaker 4: because you're only technically paying for half. Yes, so that's
Speaker 4: not bad at all. And then so that's at four
Speaker 4: seventy five. It was a five to seventy purchase and
Speaker 4: it's probably worth seven hundred plus. Tell me about the
Speaker 4: home that you live in. I know you live in
Speaker 4: your own place.
Speaker 5: Yeah, so it's worth about five hundred and fifty thousand,
Speaker 5: and the mortgage is four hundred and fifty ten thousand.
Speaker 2: Oh, she's got that down a fair bit.
Speaker 5: Yeah, I recently sold a property to buy this one.
Speaker 5: It was a little bit of a down size, which
Speaker 5: is why I have the excess cat.
Speaker 2: Yeah.
Speaker 5: But yeah, it was a lifestyle choice. It's a much
Speaker 5: better location the inner city, close to restaurants and shopping,
Speaker 5: and it's just really great vibe.
Speaker 2: I love that.
Speaker 4: And I mean, if you're at four fifteen and then
Speaker 4: you said before that you've got one hundred and fifty
Speaker 4: thousand dollars in your offset, that means what you're only
Speaker 4: paying your mortgage at two hundred and sixty five thousand.
Speaker 2: That would make you feel very good.
Speaker 4: And I mean, at the end of the day, like
Speaker 4: I love trucking, net wealth of like clients and also myself,
Speaker 4: and I'm sure you're doing the same, like, once I
Speaker 4: work all of that out with your shares and your superannuation,
Speaker 4: like you're basically broken even, Like that's very sexy.
Speaker 2: I like this for us.
Speaker 5: Yeah, but that's sort of it for investments right now.
Speaker 2: Oh, that's it.
Speaker 4: We've just spent the last ten minutes talking about all
Speaker 4: your investments and where you're going. My friend, you are
Speaker 4: doing so well, love it so much. You've obviously got
Speaker 4: the four hundred and fifteen thousand in your current home,
Speaker 4: and then you've got what the four seventy five leftover,
Speaker 4: but obviously it's only half of that. Technically, what other
Speaker 4: debts are you in? If you have any?
Speaker 5: None?
Speaker 2: None, slay. I love this.
Speaker 4: There's no car, there's no zip pay, there's no after pay.
Speaker 4: Tell me a bit more about your journey with debt.
Speaker 4: Is that something you've ever worked with or is that
Speaker 4: something that you've ever had?
Speaker 5: Yes, so there's probably two stories. I probably shouldn't tell you.
Speaker 2: No, I want to know.
Speaker 4: I want to know, Like everyone knows that I ended
Speaker 4: up in forty grand of personal debt.
Speaker 2: It's no secret.
Speaker 4: Like, I don't think we should judge past us on
Speaker 4: the decisions that we made when we just didn't have
Speaker 4: the information that we deserved, right, very true.
Speaker 5: So I've always used consumer debt, but I feel like
Speaker 5: I've used it to my advantage. Well, I mean debatable.
Speaker 5: It got to a point where in COVID, obviously, when
Speaker 5: I realized I was living paycheck to paycheck and we're
Speaker 5: facing the fact that we might lose our jobs. All
Speaker 5: these things were happening. That to me was the turning
Speaker 5: point where I was like, Okay, let's start listening to
Speaker 5: these podcast let's get things in place. So leading up
Speaker 5: to that point, I always racked up a credit card,
Speaker 5: went traveling, came home, balanced, transferred, and paid it off.
Speaker 5: So I never, in my entire life have paid interest
Speaker 5: on a credit card, but I have always maxim out.
Speaker 2: Yeah.
Speaker 5: Yeah. When I came home to do my Masters, I
Speaker 5: was in a bit of a bad car accident and
Speaker 5: I had no money and I had to buy a
Speaker 5: new car, and I wanted a brand new car because
Speaker 5: I was really freaked out about security and stuff. So
Speaker 5: I bought a fourteen thousand dollar card. Yeah, on my
Speaker 5: credit card.
Speaker 2: On your credit card?
Speaker 5: Yeah, And then I balanced, transferred it to a credit
Speaker 5: card that had interest free for twelve months, and I
Speaker 5: paid that off over twelve month.
Speaker 2: Oh my gosh, she's a genius. She got the car
Speaker 2: interest free.
Speaker 4: Okay, I mean I can't condone this because I feel
Speaker 4: like it's a slippery slope, right Like, if I did that,
Speaker 4: I know that I'd get in trouble. But you did
Speaker 4: that and it worked out you And that's why we're like,
Speaker 4: she's on the money because we can learn. But one
Speaker 4: of the most important things that we can do is
Speaker 4: learn what would work for us and what wouldn't. And
Speaker 4: I know that wouldn't work for me, but I'm low
Speaker 4: key a little bit jealous that it worked out for you.
Speaker 5: Yeah, So that was the first Probably people were calling
Speaker 5: me an idiot, but it all worked out well.
Speaker 4: Obviously You're like, yeah, idiot, but did you pay interest
Speaker 4: on your car loan?
Speaker 2: That's what I thought.
Speaker 5: That was my comeback every single time. Thank you, Victoria.
Speaker 5: And so then when I got hyper focused on buying
Speaker 5: a property, I actually had a broker laugh in my
Speaker 5: face and tell me to come back in six months
Speaker 5: when I actually had money.
Speaker 4: Excuse me, you clearly didn't come to Zella money because
Speaker 4: we would never No, I broke a laughed in your face.
Speaker 4: That broker doesn't deserve their job by I know.
Speaker 5: I obviously didn't use that broker. So I went directly
Speaker 5: to my bank, where i'd been banking for twenty years
Speaker 5: and I had a great relationship there. So I went
Speaker 5: there and I said, be honest with me, and they
Speaker 5: said the most you can borrow was two hundred and
Speaker 5: forty thousand okay, And I went, okay, good to know. Yeah,
Speaker 5: So I went and got a personal loan for twenty
Speaker 5: thousand dollars. And I came back three months later and said,
Speaker 5: I've got a twenty thousand dollar poset. I want to
Speaker 5: buy a house for two hundred and forty and they
Speaker 5: said yes, and I bought an apartment for two hundred
Speaker 5: and forty thousand dollars.
Speaker 2: Oh my god, you're giving me so much anxiety.
Speaker 5: It was a lot of anxiety.
Speaker 4: Like I don't mean to be rued, but you clearly
Speaker 4: didn't have a financial advisor. I did not like, we
Speaker 4: would not have let you do this.
Speaker 5: I just wanted to be living in a house. Well
Speaker 5: it was an apartment, let's be real, yep. And I
Speaker 5: just wanted to be independent. I didn't want to rely
Speaker 5: on anyone. I didn't want to borrow money. It's probably
Speaker 5: worth saying that I've never in my life borrowed money yep,
Speaker 5: from my parents from a bank. Ever, so I borrowed
Speaker 5: that money and it was on a seven year loan.
Speaker 5: And then I got the mortgage obvious sleep and at
Speaker 5: the same time, I was still traveling, so I still
Speaker 5: was wracking up my credit card. And I got to
Speaker 5: the point during COVID when everything blew up and went,
Speaker 5: oh my god, what am I doing? Like what if
Speaker 5: something happened to me? I can't leave this for my family,
Speaker 5: And so I took the baby step, you know, I
Speaker 5: focused on one thing. I paid down the credit card first,
Speaker 5: and I paid down the personal loan during COVID, So
Speaker 5: I paid it off in three years.
Speaker 4: I think, Okay, so you actually smashed it out, so
Speaker 4: you've kind of proven to yourself you're able to save
Speaker 4: in this capacity before.
Speaker 2: Yeah. Great.
Speaker 5: And then I started focusing on the mortgage. And it
Speaker 5: was at that point that I decided, Okay, I'm in
Speaker 5: a great spot. Now I'm going to upgrade. So I
Speaker 5: sold that apartment for three hundred thousand.
Speaker 2: Oh my gosh, yeah, which is great money. When yeah,
Speaker 2: it was really good.
Speaker 5: That was during COVID, so I was twenty twenty one,
Speaker 5: and then I bought my next place, which was the
Speaker 5: biggest spend so far that I'd ever made. But it
Speaker 5: was the dream place and it was beautiful and it
Speaker 5: was in a nice suburb. So I bought that and
Speaker 5: I had no doubt at that point. So it took
Speaker 5: me about a year or a year and a half
Speaker 5: during COVID to really just get rid of all of that,
Speaker 5: sell everything, and then start again. It was kind of
Speaker 5: my pattern is just starting over.
Speaker 2: I like it.
Speaker 4: But I'm also so impressed that that worked out for you,
Speaker 4: because if that had gone backwards, you would have been
Speaker 4: in a pickle, my friend.
Speaker 5: And you know, I would have got laughed out of
Speaker 5: any bank. Like at the time, I wanted to make
Speaker 5: an investment at work, and I just had to scraunch
Speaker 5: the money together because there was no way I was
Speaker 5: getting any more lending from anyone like I was at
Speaker 5: my CAP. I was still not on the best salary then,
Speaker 5: and yeah, I just had to focus on clearing them
Speaker 5: all and improving the credit score, doing all those things.
Speaker 2: And you did it.
Speaker 5: Yeah, I did it.
Speaker 2: Oh my god, I'm so glad.
Speaker 4: I asked about debts even tho way, I was like,
Speaker 4: I know she doesn't really have any other debts, because
Speaker 4: that's the story I got.
Speaker 5: Yes, Actually, I also had a very large HEX set.
Speaker 5: It was fifteen five thousand dollars when I finished my Masters,
Speaker 5: And I'm so dirty right now because I paid it
Speaker 5: off last year.
Speaker 2: Yeah, but I think that I might.
Speaker 5: Get a credit anyway, because I did have a seventeen
Speaker 5: thousand dollars debt at June first last year. Right, but
Speaker 5: I paid it off and now everyone's getting a credit.
Speaker 2: Wait, what date did you pay off your HEX.
Speaker 5: I think it was November last year, was my last payment?
Speaker 4: Right, Okay, you will probably get an indexation refund. Then
Speaker 4: I was about to say, I've had a few people
Speaker 4: message me and they go, am I going to get
Speaker 4: a refund because I paid off my HEX step because
Speaker 4: I didn't want to get indexed. I'm like, no, no, no,
Speaker 4: they're giving refunds to the people that were index Like,
Speaker 4: you're not going to get a refund. But if you
Speaker 4: then were paying from the first of July to November
Speaker 4: the index rate of it was seven point one percent,
Speaker 4: that will probably be refunded to you.
Speaker 2: But it will be refunded via your.
Speaker 5: Tax return, which is fine.
Speaker 4: I mean free money, like money you didn't think was
Speaker 4: going to come your way. I mean it's nice, So
Speaker 4: thank you very much. I'm looking forward to that because
Speaker 4: I was one of the people that didn't pay off
Speaker 4: anymore if my HEX decks. I looked at my HEX
Speaker 4: and I said, look, seven point one percent is really high.
Speaker 4: But also my mortgage is increasing, and I'd much prefer
Speaker 4: to be creating wealth still knowing full well that my
Speaker 4: HEX will just tick away in the background, and I
Speaker 4: know that it's more money, but at the end of
Speaker 4: the day, like my mortgage could go up again, because
Speaker 4: I mean it's tumultuous times, right, And now I'm like, hey,
Speaker 4: that was a good decision because now that's seven one
Speaker 4: percent is going to get refunded and I'd love to
Speaker 4: see it.
Speaker 5: Yeah, And you know, I would also say to someone
Speaker 5: like I would not have paid off that HEX set
Speaker 5: if it weren't for the fact that I bought my
Speaker 5: current place last year because it was affecting my borrowing power.
Speaker 5: I was in mortgage prison, and that's the only reason
Speaker 5: I paid it off, Like, honestly, just let it come
Speaker 5: out of your pay like there's no point paying it before.
Speaker 4: You mortgage, yeah, unless you've got a good reason. But
Speaker 4: I also feel like, do the maths work it out?
Speaker 4: Chat to a broker, because I have had people come
Speaker 4: through Zella money before and they have paid off their
Speaker 4: hecks because they thought that's what we would want them
Speaker 4: to do, And in reality, we would have much preferred
Speaker 4: to have that thirty thousand dollars as a bigger deposit
Speaker 4: because now they had to go back to the drawing
Speaker 4: board and save for you know, six more months to
Speaker 4: get back to where they wanted to be. Whereas a
Speaker 4: lot of banks are quite lenient when it comes to,
Speaker 4: you know, considering your hex because they just go, well,
Speaker 4: that's a good debt, Like I don't see it like
Speaker 4: credit card debt.
Speaker 2: Or personal loans.
Speaker 4: So good to talk to someone before you make a
Speaker 4: big decision like that, because it is a big decision
Speaker 4: about a lot of money, right.
Speaker 5: Yeah, And it hurt, like to pay seventeen thousand.
Speaker 2: Yeah, all at once.
Speaker 4: Yeah, And they don't even send you like a thank
Speaker 4: you note, like what the hecking? Like I just gave
Speaker 4: you seventeen grand, like you could at least buy me
Speaker 4: a coffee?
Speaker 5: Yeah, I know, and the brokers are like, can you
Speaker 5: print out a statement proving it? I don't believe you.
Speaker 4: Oh excuse me. I'm so glad you didn't use those
Speaker 4: brokers straight into the bin? All right, money dirist, I
Speaker 4: want to know. I feel like we've got heaps to
Speaker 4: learn from you. What's your best money haveit?
Speaker 5: I think that when I have a goal in my mind,
Speaker 5: I'm very good at putting money towards it.
Speaker 4: I think so too, like I have learned a lot
Speaker 4: in this last half an hour. I feel like when
Speaker 4: you want to achieve something, we're doing it, but we're
Speaker 4: like doing it twice for sure.
Speaker 5: I don't know how I got that. It's obviously something
Speaker 5: I'm focusing on a lot more because I did get
Speaker 5: to that point where I got a little bit unraveled.
Speaker 5: But obviously I was able to grow my salary, which
Speaker 5: was handy.
Speaker 4: And sometimes we've got to get a little bit unraveled,
Speaker 4: so we know what that feels like so that we
Speaker 4: don't do it again, for sure.
Speaker 5: But yeah, that would probably be fairly good money have it.
Speaker 5: I'm a little bit too generous.
Speaker 4: I think sometimes that's not a bad thing. I think
Speaker 4: that's a kind thing, like not the end of the world.
Speaker 4: Would you say that's your worst money have it?
Speaker 5: Yeah, because I'm on the cusp of, you know, fiercely
Speaker 5: saving but then also wanting to live my life. I
Speaker 5: am a bit of a splurge spender, and especially when
Speaker 5: it comes to health, like, I will try anything once,
Speaker 5: like I will try every specialist. I will try the
Speaker 5: new treatments. I love a good steam room, I love
Speaker 5: a sauna.
Speaker 2: Oh who doesn't a little bit lucks?
Speaker 4: I mean, you have a high income at the end
Speaker 4: of the day, and you don't have any kids, and
Speaker 4: you already have a mortgage.
Speaker 2: I feel like you deserve the.
Speaker 4: Facial you know, yes, thank you, You definitely deserve it.
Speaker 4: So you're a bit of a splurge spender. Has that
Speaker 4: gotten in the way of your saving?
Speaker 5: Sometimes? Yeah, for sure? And it's usually a trip. Like
Speaker 5: usually someone goes, oh, like, do you want to maybe
Speaker 5: go to Fiji for a week, And I'll be like.
Speaker 2: Okay, shure, Well yes, obviously I want to go to
Speaker 2: Fiji for a week. Who you are asking?
Speaker 5: I know, And I will definitely prioritize things like that
Speaker 5: over a goal that can change that I'm flexible with
Speaker 5: for sure.
Speaker 4: Fair all right, at the start of this episode, you
Speaker 4: told me that you think you're a B plus. Like,
Speaker 4: I'm going to argue with you, because I think you're
Speaker 4: way better than a B plus, Like you are killing it.
Speaker 4: But reflecting on everything that we've spoken about, do you
Speaker 4: think that you are still at a B plus? If so,
Speaker 4: tell me why If not, what is it going to
Speaker 4: take to get to that A plus?
Speaker 2: What does that look like?
Speaker 5: In my head, It's okay to be a B plus
Speaker 5: because the A plus means that I'm having to sacrifice
Speaker 5: a little bit more, which I don't think I'm willing
Speaker 5: to do. I'm okay with being a bit spendy here
Speaker 5: and there if it means, you know, life is more enjoyable,
Speaker 5: a little bit fun along the way. So I think
Speaker 5: I'm comfortable being a B plus. Maybe if the years,
Speaker 5: you know, get a bit easy, yeah, I'll save a
Speaker 5: little bit more and try and own a bit more money. Maybe.
Speaker 5: I don't know.
Speaker 2: Nah, I disagree.
Speaker 4: I think you're more of an A, and you're an
Speaker 4: A because of that mindset, because you're so aware that
Speaker 4: you want to still live life and find that balance.
Speaker 4: And I think that money can be overwhelming and all consuming,
Speaker 4: and that you know, a lot of people assume that
Speaker 4: an A plus person has no fun, Like I would
Speaker 4: argue that someone who's really really good at money actually
Speaker 4: understands that they have emotional and lifestyle needs in addition
Speaker 4: to just hoarding cash in the bank, right, Like I
Speaker 4: would actually say that somebody who holds cash in the
Speaker 4: bank and money gives them anxiety, but they save every
Speaker 4: single dollar. They're maybe not an A plus because they're
Speaker 4: not where they need to be, right yeah, fair, but
Speaker 4: each to their own. And I mean, if you're saying
Speaker 4: that you're still a B plus and you're happy there, Like,
Speaker 4: who am I to disagree if you're still working towards
Speaker 4: your goals, Like, I don't even want to argue with
Speaker 4: you right now. I just want to talk more about
Speaker 4: property and how you mastered the credit card balance transfer game.
Speaker 4: Like to me, that's blowing my mind.
Speaker 5: Yeah it does affect your credit score.
Speaker 4: Yeah, look it does. And it's definitely a do as
Speaker 4: I say, not as I do kind of thing. We're
Speaker 4: just sharing this so that you can learn from our
Speaker 4: money direst not necessarily replicate her behavior. But I mean,
Speaker 4: you do you with the right tools and resources, right
Speaker 4: for sure? Money direst It has been an absolute pleasure
Speaker 4: having a chat with you. Unfortunately, that is all we
Speaker 4: have time for today, but thank you for letting me
Speaker 4: share your story with the community.
Speaker 2: They are going to love it.
Speaker 4: And your friend that bullied you into coming on the show,
Speaker 4: I thank her because this.
Speaker 2: Was so so worth it.
Speaker 5: She'll appreciate that.
Speaker 2: I love that.
Speaker 4: The advice shared on She's on the Money is general
Speaker 4: in nature and does not consider your individual circumstances. She's
Speaker 4: on the Money exists purely for educational purposes and should
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