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Speaker 1: She's on the Money.

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Speaker 2: She's on the Money.

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Speaker 3: Hello and welcome to She's on the Money, the podcast

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Speaker 3: mililes who want Financial Freedom. You're joining us for another

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Speaker 3: one of our shop Back Money Diary mondays, where we

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Speaker 3: get to chat to one of our beautiful community members,

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Speaker 3: learn about them, learn about their story, and ask all

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Speaker 3: of the juicy questions that you guys at home absolutely

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Speaker 3: want to know about Victoria, I've got a really good

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Speaker 3: one for you this week.

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Speaker 4: Are you ready? I am so ready?

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Speaker 3: What have you got so our diret said, I am

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Speaker 3: approaching thirty and starting out. I have what might be

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Speaker 3: considered an average money story, but I am working on it.

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Speaker 3: I've experienced severe soul crushing consumer debt after making horrible

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Speaker 3: financial decisions in my early twenties that left me with

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Speaker 3: a terrible credit rating. But I am on the up

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Speaker 3: and up, improving my financial position one step at a time.

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Speaker 3: Although my story might not be super inspiring, I think

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Speaker 3: it's relatable to the Shoes on the Money community to

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Speaker 3: show people there is a light at the end of

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Speaker 3: the tunnel once you accept that you deserve the light.

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Speaker 3: And my heart, can I just tell you I'm so

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Speaker 3: excited for this chat.

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Speaker 4: Oh my gosh, me too, money diarist, you are hanging

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Speaker 4: out in the wings. Welcome to the show.

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Speaker 1: Thank you, Hello everyone.

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Speaker 4: Oh my gosh, I am so excited to have you here.

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Speaker 4: And I guess the first thing off the vat there's

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Speaker 4: no such thing as an average money story. Like, come on,

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Speaker 4: my friend, you've been in the ses on the money

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Speaker 4: community long enough to know that, no, there's no such

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Speaker 4: thing as average. Story is so special. Yeah, absolutely, but

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Speaker 4: let's get straight into it. Can you tell us a

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Speaker 4: little bit about your money story? Yeah?

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Speaker 1: Sure. So I grew up in a relatively middle class,

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Speaker 1: sort of working family, and I was quite privileged to

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Speaker 1: be able to travel really extensively when I was younger.

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Speaker 1: I was never really left out with anything that I

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Speaker 1: really wanted, and I think that kind of set me

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Speaker 1: up for the misconception that money's easy. Money is you know,

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Speaker 1: essentially it did grow on trees because I didn't see

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Speaker 1: how hard my parents worked in the background to give

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Speaker 1: me the things I wanted. Yeah, which sort of led

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Speaker 1: me into this false sense of you know, oh, everything

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Speaker 1: will be fine. I can have whatever I wanted when

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Speaker 1: I started working. So I started working when I was

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Speaker 1: fourteen through high school, just part time jobs just to

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Speaker 1: sort of have a bit of extra pocket money on

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Speaker 1: the side. But once I started a full time role

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Speaker 1: when I was nineteen, that led me into living way

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Speaker 1: beyond my means and you know, thinking that that was

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Speaker 1: an acceptable way of living and really really really did

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Speaker 1: not think a future self at all.

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Speaker 4: So yeah, I feel like that's so relatable though. I

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Speaker 4: feel like so many of us work when we're really young,

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Speaker 4: and we kind of just don't comprehend money because money diarist,

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Speaker 4: what were you doing with your money when you were

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Speaker 4: working at fourteen? I feel like what we don't comprehend

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Speaker 4: once we get to eighteen or we move out is

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Speaker 4: that that money now has to pay for living expenses

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Speaker 4: as opposed to disposables. So I'm interested to know what

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Speaker 4: you were doing with your money. Well, the roof of

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Speaker 4: your head was paid for.

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Speaker 1: Yeah, absolutely, Bolkovt just went to hanging out with friends, shopping.

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Speaker 1: I had, you know, just going to things like parties

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Speaker 1: and going out to dinners on a Friday night after

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Speaker 1: school and you know, gifts for friends, that sort of thing.

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Speaker 1: I really didn't have to pay for, you know, things

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Speaker 1: simple things such as regro when I was you know,

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Speaker 1: the seventeen eighteen year old mark. That was something that

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Speaker 1: was always gifted to me, and I didn't have to

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Speaker 1: really anticipate that the money that I was earning had

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Speaker 1: to go anywhere else other than fun, which then led

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Speaker 1: me into a world of hat.

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Speaker 4: Yeah, and you just think it'll keep going, right, You're like,

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Speaker 4: that's fine, Like I don't have to change my lifestyle.

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Speaker 4: But I'm going to move out. I'm going to get

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Speaker 4: my own apartment. It's going to be so fun, right,

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Speaker 4: And where's all my money? Yeah?

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Speaker 1: Exactly?

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Speaker 4: So, oh my gosh, I feel like I did that

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Speaker 4: a fair bit, and that's how I ended up in

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Speaker 4: a little bit of a pickle when it came to

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Speaker 4: personal debt when I was younger. But moving on money, darist,

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

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Speaker 4: you earn?

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Speaker 1: So I'm a contract coordinator for a large defense subcontractor,

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Speaker 1: so I work in the defense industry without actually being

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Speaker 1: part of the ADF. So quite interesting. Actually, I started

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Speaker 1: off as the receptionist for this company on quite a

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Speaker 1: lower salary and just have taken the opportunities that as

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Speaker 1: they've come and moved on to a personal assistant execute

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Speaker 1: of assistant and now a contract coordinator, So I'm quite

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Speaker 1: proud of that. I've finished high school, but I don't

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Speaker 1: have any further education after that, so I'm quite proud

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Speaker 1: of where I'm at and where I started.

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Speaker 4: Oh my gosh, she hustled her way to the top.

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Speaker 4: I love that. And now, how much money do you earn?

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Speaker 1: So I'm on eighty three thousand plus super.

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Speaker 4: Oof plus super or. We love that. We love that.

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Speaker 4: That is so good.

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Speaker 1: Yeah. Yeah, very proud of where I've started to where

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Speaker 1: I was at because when I started this company five

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Speaker 1: years ago, I was on about the fifty thousand, So yeah,

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Speaker 1: I've just been trying to work my way up the ladder.

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Speaker 4: I love that. And you definitely have worked your way

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Speaker 4: up the ladder by the looks of it, Like that's

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Speaker 4: so pretty good climbing. Yeah.

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Speaker 1: Yeah.

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Speaker 4: Is there a lot of career opportunity to keep progressing

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Speaker 4: that in the same company, like if you stay even longer.

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Speaker 1: Yeah, absolutely. So it's a huge company and we operate

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Speaker 1: all over the world as well, so there's lots of

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Speaker 1: interconnecting roles and opportunities as well as the defense sector

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Speaker 1: just obviously just will keep going and growing. So even

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Speaker 1: if I step out of the company I'm in now.

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Speaker 1: There is so many different levels within government as well

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Speaker 1: as the private sector. So very fortunate to have landed

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Speaker 1: myself randomly in this field. Was it something that I

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Speaker 1: had wet drove out to really achieve? I was in

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Speaker 1: legal services beforehand, so yeah, very excited.

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Speaker 4: Oh my gosh, that is so cool. And to be

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Speaker 4: a little bit pervy because you did tell me a

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Speaker 4: little tip bit about your life before we are started

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Speaker 4: recording money darist. You're currently on maternity leave. Is that correct?

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Speaker 4: I am yes. Can you tell me a little bit

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Speaker 4: about how that plays into I guess your role and

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Speaker 4: your pay, Like how much paid leave do you get?

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Speaker 4: How did you apply for it? How did you tell

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Speaker 4: your work that you were going to be taking a

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Speaker 4: period of time off to have a beautiful little baby.

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Speaker 1: Yeah, so obviously very fortunate to live in Australia with

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Speaker 1: such a well, I think a good maternia leave system

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Speaker 1: provided from the government. So I think after tax I'll

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Speaker 1: be getting about eleven and a half grand, which is

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Speaker 1: the eighteen weeks full pay at at the minimum wage,

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Speaker 1: and then on top of that, my supplier provides twelve

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Speaker 1: weeks of full pay. However, They've got a bit of

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Speaker 1: a weird system where you get half of that upfront

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Speaker 1: and then half of that when you return to work,

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Speaker 1: which for me will be in September this year.

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Speaker 4: Oh my gosh, So twelve weeks of full play plus

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Speaker 4: the government time off, which means you're taking what like

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Speaker 4: is a about twenty four weeks off.

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Speaker 1: Yeah, so twenty four weeks of pay and then the

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Speaker 1: rest is unpaid, which obviously that's a bit of a

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Speaker 1: juggle between what I've received from the government and my

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Speaker 1: work and then my husband's salary as well. So yeah,

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Speaker 1: the next ten I'm a super budget now, which I

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Speaker 1: wasn't in the past, so I've really like stepped out

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Speaker 1: what we can afford each month. So yeah, lucky to

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Speaker 1: have the whole year off, which was nice.

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Speaker 4: Oh how good. I've got so many questions about that,

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Speaker 4: But we will leave back to the second part of

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Speaker 4: the show money diarist. What is your big money goal

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Speaker 4: at the moment?

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Speaker 1: Would be to buy a larger property. So in our

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Speaker 1: first home at the moment, but it's a two bedroom,

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Speaker 1: one bathroom little house, so just to buy the next house,

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Speaker 1: and for us in the position we're we're going to

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Speaker 1: have to sell this one to afford the next, especially

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Speaker 1: in the current market. So that's the that's the biggest goal.

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Speaker 1: And second it's just building wealth in other areas, so shares,

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Speaker 1: Super and just general savings as well is another huge one.

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Speaker 4: Oh my gosh, so many goals. Yes, ah, so exciting.

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Speaker 4: Next question is do you currently have any investments?

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Speaker 1: I do, yes, so Super. I have about one hundred

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Speaker 1: and twenty thousand in Super.

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Speaker 4: Sorry what and you're not even thirty yet. Yes, one

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Speaker 4: hundred and twenty thousand dollars in Super? Yeah, sorry that track?

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Speaker 4: How did that happen?

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Speaker 1: So? I am so guilty of completely ignoring Super. I

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Speaker 1: had about six or seven different funds across, you know,

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Speaker 1: from working since I was fourteen and swapping jobs. And

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Speaker 1: about a year ago we went and saw a financial advisor.

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Speaker 1: I've hurt.

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Speaker 4: They're good people, yeah.

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Speaker 1: Yeah, and he just moved everything into one fund and

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Speaker 1: just that fund. I guess it's been performing quite well.

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Speaker 1: And yeah, I was very shocked about six months ago

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Speaker 1: when I logged in to find that I had one

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Speaker 1: hundred and twenty thousand there, from completely ignoring it to

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Speaker 1: having such a balance, I was, yeah, very very surprised,

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Speaker 1: And yeah, have.

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Speaker 4: You ever contributed additional to super? No, No, you've just

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Speaker 4: amassed it since you were fourteen, and it's been growing

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Speaker 4: and growing. Because the average amount of money in superannuation

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Speaker 4: for a woman between the age of twenty five to

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Speaker 4: thirty four is actually thirty one six hundred dollars. So like,

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Speaker 4: you are blowing that out of the water, my friend.

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Speaker 4: I don't know if you knew that, but when you

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Speaker 4: said that number, I was like, hold up, you're not

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Speaker 4: even thirty yet and the average is literally like thirty

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Speaker 4: one grand.

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Speaker 3: Yeah, because I know that government is really notorious for

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Speaker 3: paying a high level of super. What percentage is your super?

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Speaker 1: So it's just a standard at the moment because we're

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Speaker 1: not technically part of the AAF. However, I did work

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Speaker 1: for two years at the ATO, so yeah, but that again,

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Speaker 1: I was earning a very low salary there. It was

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Speaker 1: like an introductory to work sort of program straight out

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Speaker 1: of high school almost, so I think I was on

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Speaker 1: about thirty six thousand dollars a year in that progress.

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Speaker 4: Yeah, you wouldn't have got you wouldn't have got bucket

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Speaker 4: loads a super for that salary. And my friend, No,

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Speaker 4: the other question I have is actually look just being

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Speaker 4: really pervy, because I think a lot of people are

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Speaker 4: going to listen and go, what that's so much super

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Speaker 4: without trying, which is the biggest money whin I've heard

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Speaker 4: to date. But the question I think is more around hours,

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Speaker 4: because a lot of us do start working when we

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Speaker 4: turn fourteen years and nine months old, and we go

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Speaker 4: down in my case, to the local ice cream shop

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Speaker 4: and get a job. And so when we work, they

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Speaker 4: aren't legally obligated to pay us super innuation until we

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Speaker 4: hit a certain amount of hours or a certain amount

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Speaker 4: of income in a certain amount of time frame. So

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Speaker 4: money Diarist, Were you working a lot of hours when

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Speaker 4: you were younger?

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Speaker 1: Yeah, I was probably working about twenty hours a week,

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Speaker 1: I would say so from the age of fourteen. So

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Speaker 1: I two went down to Muff and Break and started

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Speaker 1: out there and then moved on to.

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Speaker 4: Oh my god, one of my best friends worked at

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Speaker 4: Muff and Break. It was the best. We were in

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Speaker 4: grade ten and she used to bring muff and Break

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Speaker 4: for like morning tea the next day pretty much daily.

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Speaker 4: It was the best thing ever.

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Speaker 1: Yeah, it was great. And then I moved on to

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Speaker 1: Barnacle Bills, which is the seafood shot down in South

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Speaker 1: Australia and also Woolworths were my three that I moved

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Speaker 1: around in during high school. And yeah, probably about twenty

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Speaker 1: hours a week throughout that whole period.

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Speaker 4: Which you definitely would have been getting paid superrom whereas

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Speaker 4: I was only working like maybe a couple of hours

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Speaker 4: after school. Like, I definitely didn't accrue twenty hours a week.

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Speaker 4: But the other thing that is playing to your benefit

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Speaker 4: is you didn't go to UNI. You just went straight

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Speaker 4: into the workforce, which means you've been accruing a full

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Speaker 4: time salary worth of SUPER even though you're saying it

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Speaker 4: was a lower salary, but you've just been consistent, and

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Speaker 4: consistency pays off over time. And I just think that

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Speaker 4: that's so often underplayed that you go, oh my gosh,

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Speaker 4: I'm going to be so far behind because I didn't

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Speaker 4: go to UNI. But you have all these years on

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Speaker 4: other people of superannuation accumulation.

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Speaker 1: Yeah right, I don't know if you want me to

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Speaker 1: talk about.

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Speaker 4: This now and talk about whatever you want. You're the

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Speaker 4: boss of this show.

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Speaker 1: I did go to UNI for a few semesters, which

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Speaker 1: has left me with a heck stet, which is part

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Speaker 1: of my debt that I wanted to talk about because

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Speaker 1: I have seventeen thousand dollars of HEX set with no degree.

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Speaker 4: So well, let's get into that because that's actually the

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Speaker 4: next question, my friend, So money, dis talk to us

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Speaker 4: about your debts.

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Speaker 1: Yeah, So currently I have a two hundred and forty

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Speaker 1: thousand dollars mortgage which we've had for ten years, so

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Speaker 1: just sort of working that down. I also have a

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Speaker 1: sixteen thousand dollar car loan. So I've always been the

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Speaker 1: type of person to just have a five hundred dollar

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Speaker 1: car that's just sort of gotten me through and you know,

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Speaker 1: no pow of steering, no power windows, that sort of scenario.

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Speaker 1: So last year I bought my first big girl car

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Speaker 1: and I was fortunate enough to have ten thousand dollars

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Speaker 1: that I put down as a lump sump payment and

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Speaker 1: then just sixteen thousand for the remainder. So I'm quite

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Speaker 1: happy with that, and that's that because it's given me

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Speaker 1: probably a safer mode of transport than before. And then

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Speaker 1: I have seventeen thousand dollars in hects as well.

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Speaker 4: And you were saying before that that HEX is for

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Speaker 4: a degree that you didn't end up finishing, so talk

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Speaker 4: to me about I guess how you made the decision

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Speaker 4: to maybe not keep studying, but also how does that

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Speaker 4: hex step now make you feel?

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Speaker 1: Yeah. So, to be honest, a lot of people say,

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Speaker 1: you know, hextex is fine, you don't ever worry about

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Speaker 1: it coming out because it's all taken out before you

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Speaker 1: receive your net income, so you won't even notice it.

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Speaker 1: And I found it to be the exact opposite, to

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Speaker 1: be honest, I started out when I left school, or

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Speaker 1: when I finished school. My mum was begin to you

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Speaker 1: go to UNI or you get a job. It was,

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Speaker 1: you know, nothing really in between. So I started a

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Speaker 1: nursing degree. I did two semesters of that and really

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Speaker 1: really really was not for me. So then a couple

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Speaker 1: of years later, once I'd had a couple of years

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Speaker 1: in the working force, I thought that I needed higher

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Speaker 1: education to get me anywhere in the corporate sort of world.

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Speaker 1: So because of that, I started a business degree online.

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Speaker 1: And this is during the period where I wasn't that

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Speaker 1: great with my finances so kind of just buried my

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Speaker 1: head in the sand, miscut off dates for subjects I

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Speaker 1: didn't even start, so that added onto my hex Yeah,

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Speaker 1: so now I have yeah, the seventeen thousand dollars hex

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Speaker 1: step for something that I didn't even invest myself in,

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Speaker 1: nor did I really care about. And now I'm definitely

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Speaker 1: seeing the negative of that.

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Speaker 4: So you're seeing it come out. But I'm going to

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Speaker 4: make some assumptions that you learnt a fair bit even

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Speaker 4: if it wasn't for your future career during UNI. Would

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Speaker 4: that be a correct assumption? And I mean a lot

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Speaker 4: of people say, like, oh my god, I can't believe

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Speaker 4: I'm paying for a degree I'm not even using, which

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Speaker 4: in your case, you said you did nursing. You're not

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Speaker 4: even working in a space close to nursing. So I

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Speaker 4: can see how that would feel like a bit of

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Speaker 4: a waste. But I feel like we get a lot

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Speaker 4: of life experience and learn a lot about ourselves during

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Speaker 4: that period. So as much as you're paying for it now,

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Speaker 4: is it as big a waste, I don't know. Yeah.

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Speaker 1: Look, during the nursing time, it wasn't you know. I

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Speaker 1: got to live a bit of the UNI life, which

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Speaker 1: was obviously really fun and met a lot of really

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Speaker 1: nice people through it. But during the business side of it,

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Speaker 1: I was working full time. I kind of signed up thinking,

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Speaker 1: you know, I was going to give myself all these

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Speaker 1: incredible opportunities to earn more money down the track, but

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Speaker 1: it was it was a case of me signing up.

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Speaker 1: I did a few subjects. I failed my accounting subjects,

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Speaker 1: so that will give you a bit of an insight

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Speaker 1: as to where my money was at at that time

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Speaker 1: and just my mindset around it all. So you know,

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Speaker 1: the business side of HEADS was just a complete mistake.

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Speaker 4: And yeah, yeah, I feel like I totally get the regret.

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Speaker 4: I don't want you to feel bad about it. I

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Speaker 4: feel like you've learned a lot from it and it's

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Speaker 4: helped you become who you are today. But I also

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Speaker 4: look at it and I go look at how much

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Speaker 4: pressure you were putting on yourself, and how much pressure

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Speaker 4: other people in our community are putting on themselves to

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Speaker 4: go to UNI for degrees that they might not even

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Speaker 4: want to work in spaces that they don't even fully

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Speaker 4: comprehend the career opportunities. And like, obviously, if you go

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Speaker 4: do nursing, there's a really brilliant career of nursing ahead

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Speaker 4: of that. So please don't get me wrong. It's not

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Speaker 4: saying it's a waste by any stretch of the imagination.

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Speaker 4: But for you in particular, like you have a really

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Speaker 4: great salary. You haven't had to go to UNI for that.

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Speaker 4: Like I know, Jess, you're the same. You haven't gone

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Speaker 4: to university for the career that you are doing at

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Speaker 4: the moment, and both of you are I would say,

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Speaker 4: wildly successful. So I think if you're in that position

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Speaker 4: and you're like, I really hate UNI and I really

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Speaker 4: don't like it, like, don't follow something you don't love,

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Speaker 4: because it's not going to give you, I guess the

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Speaker 4: outcome that you think it might, Like, it's not just

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Speaker 4: going to miraculously turn into a high paying job. Because

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Speaker 4: the one thing that I do see that you two

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Speaker 4: probably have in common, my friends, is that you have

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Speaker 4: really great work ethics, and you work hard, and you

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Speaker 4: have direction and you put your head down a money

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Speaker 4: rris that has been obvious from the fact that you

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Speaker 4: have progressed so quickly in your career to different roles

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Speaker 4: and kind of like climbed that ladder on your own.

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Speaker 4: You don't need to a degree, you don't have your

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Speaker 4: own ladder.

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Speaker 1: Right, And I'm very big on that as well. So

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Speaker 1: you know, when I talk to my younger cousins who

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Speaker 1: are just about to finish high school. I hate asking

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Speaker 1: the term of what are you going to do next year?

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Speaker 1: Because I just think that if that takes two pressure. Yeah,

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Speaker 1: And I think if that takes two to three years

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Speaker 1: to figure out what you want to do, I think

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Speaker 1: that's better than just jumping straight into a career. I

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Speaker 1: know people that have gone and done, you know, a

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Speaker 1: six year engineering degree and wound up as police officer.

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Speaker 1: So you know, I just think the pressure to know

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Speaker 1: what you want to do straight out of high school

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Speaker 1: is just immense, and I think it can probably lead

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Speaker 1: people down the wrong path for maybe not such a

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Speaker 1: happy career. Yeah.

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Speaker 4: I couldn't agree more. And I mean I've got that

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Speaker 4: from understanding that she's on the money community and talking

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Speaker 4: to so many people. But even looking back on my

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Speaker 4: own career when I was eighteen, how did I know

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Speaker 4: that I wanted to do what I wanted to do?

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Speaker 4: Like I had no idea, Like I was drinking vodka

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Speaker 4: cruz is Like if that's that's like a summary of

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Speaker 4: the life choices I was making at the time. How

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Speaker 4: was she little vodka Cruzer Victoria. How was she picking

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Speaker 4: future Victoria's career? Because even if she'd tried to predict

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Speaker 4: what I was doing today, it wouldn't have come to fruition.

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Speaker 4: I feel like year eleven and twelve is also a

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Speaker 4: massive amount of pressure as well, that people like, if

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Speaker 4: you don't perform well and you're eleven and twelve, like

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Speaker 4: you won't get into UNI and then basically you'll die.

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Speaker 4: And that's just not the case at all. Like so

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Speaker 4: many people on the show as well have been like, oh,

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Speaker 4: I was a mature age student, got a really really

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Speaker 4: terrible atar, but like, you know, just entered later and

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Speaker 4: got my dream career once I found that focus. Like,

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Speaker 4: I think we need to give ourselves a little bit

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Speaker 4: more space. But moving on, because I feel like we

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Speaker 4: could all talk about this forever. Money Diarist to one

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Speaker 4: of our favorite questions, do you use shop back?

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Speaker 1: Look? I do have the app downloaded and I have

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Speaker 1: an account going, but I'm not an active user, which

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Speaker 1: I should be because I online shopped like an absolute fiend.

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Speaker 1: So I need to be bad. It needs to be

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Speaker 1: better in that space.

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Speaker 4: I feel like I was really bad at using shop

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Speaker 4: back until I installed it on my Chrome browser, and

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Speaker 4: now it just automatically pops up. It's like, oh, you

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Speaker 4: look like you're buying something. Turn on shop back and

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00:20:50,200 --> 00:20:52,119
Speaker 4: you're like, yes, yes, turn it on, turn it on.

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Speaker 4: So I feel like until that point, I didn't really

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Speaker 4: shop through the app, but I definitely shop on my desktop.

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Speaker 4: And I probably shouldn't go on about that because if

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Speaker 4: you look at Jess, you'll probably be like, well, I

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Speaker 4: know you do. You probably should be doing your work.

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Speaker 4: Victoria money Darist. Next question, what do you think is

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Speaker 4: your best money habit?

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Speaker 1: My absolute best money habit, which I'm very proud of

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Speaker 1: now because old me would have again buried my hand

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Speaker 1: in the sand. Is my budgeting skills? So I budget,

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Speaker 1: you know, every single month, and I don't know exactly where

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Speaker 1: every single one of my dollars is now going. Old

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Speaker 1: me literally just use my card intil it was declined

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Speaker 1: and I had no idea what was coming in and out.

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Speaker 1: But now I'm totally across it. Got a beautiful spreadsheet

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Speaker 1: that I'm extremely proud of running, and yeah, that's probably

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Speaker 1: my best money habit.

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Speaker 4: Oh my gosh, I love spreadsheets. I would love to

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Speaker 4: see yours. Where did you start, like when it comes

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Speaker 4: to budgeting and spreadsheets? You said before you had your

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Speaker 4: head in the sand. Were in personal debt, Like, how

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Speaker 4: do we change our mindset to being a spreadsheet queen?

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Speaker 4: How do we do it?

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Speaker 3: Like?

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Speaker 4: Where did you start? Because it feels so overwhelming for

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Speaker 4: so many people? Yeah?

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Speaker 1: Absolutely, so I just did the old print out the statement,

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Speaker 1: found out what was going in, what was going out,

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Speaker 1: what was a monthly sort of trend of mine, so

438
00:22:20,800 --> 00:22:24,600
Speaker 1: online shopping gifts as well, so I like, I like

439
00:22:24,680 --> 00:22:28,119
Speaker 1: giving gifts, so really budgeting now I have one hundred

440
00:22:28,119 --> 00:22:31,240
Speaker 1: and fifty dollars a month for any upcoming birthdays or

441
00:22:31,680 --> 00:22:34,439
Speaker 1: baby shower gifts, things like that. But it was a

442
00:22:34,480 --> 00:22:38,240
Speaker 1: case of opening my account and really just going through

443
00:22:38,280 --> 00:22:41,159
Speaker 1: old school about what was in and out and just

444
00:22:41,240 --> 00:22:44,320
Speaker 1: the monthly trends. So once you start, and then it

445
00:22:44,359 --> 00:22:46,960
Speaker 1: just snowed balled into there, into my epic spreadsheet.

446
00:22:47,440 --> 00:22:51,639
Speaker 4: Yeah, from little things, big things do really grow. But

447
00:22:51,720 --> 00:22:54,159
Speaker 4: it's kind of like a snowball effect. But first you

448
00:22:54,160 --> 00:22:55,560
Speaker 4: have to put your head out of stand.

449
00:22:55,760 --> 00:22:56,520
Speaker 2: Right, Is that right?

450
00:22:56,880 --> 00:22:58,680
Speaker 1: Absolutely all right?

451
00:22:58,760 --> 00:23:01,960
Speaker 4: To bring the tone of this converse all the way down, money, Dirice,

452
00:23:02,080 --> 00:23:04,399
Speaker 4: what is your worst money Habit would.

453
00:23:04,160 --> 00:23:07,240
Speaker 1: Have to be just my it is much better than

454
00:23:07,359 --> 00:23:10,320
Speaker 1: previous years, but just my lack of self control when

455
00:23:10,320 --> 00:23:14,560
Speaker 1: it comes to online shopping. I was an absolute sucker

456
00:23:14,600 --> 00:23:17,960
Speaker 1: for Instagram ads and you know, the junk mail that

457
00:23:18,000 --> 00:23:21,280
Speaker 1: would come into the inbox, and you know, whatever brand

458
00:23:21,359 --> 00:23:23,600
Speaker 1: was having a sale, and I thought that it meant

459
00:23:23,840 --> 00:23:26,200
Speaker 1: if I didn't buy what I wanted in that sale,

460
00:23:26,240 --> 00:23:28,159
Speaker 1: I was never going to be able to get it again,

461
00:23:28,440 --> 00:23:29,720
Speaker 1: which is just not the case.

462
00:23:30,880 --> 00:23:33,320
Speaker 4: So hid it's not. But it's so easy to be like,

463
00:23:33,359 --> 00:23:35,320
Speaker 4: oh my gosh, but like it's on sale, I really

464
00:23:35,400 --> 00:23:38,000
Speaker 4: wanted it, and now it's like discounted. If I don't

465
00:23:38,000 --> 00:23:39,800
Speaker 4: get it now, I'll never be able to afford it

466
00:23:39,920 --> 00:23:41,720
Speaker 4: or get it or I totally get that.

467
00:23:41,720 --> 00:23:44,800
Speaker 1: Sense of urgency. Yeah, so just and my I just

468
00:23:44,840 --> 00:23:47,840
Speaker 1: had no self control around that at all, which is

469
00:23:48,119 --> 00:23:50,399
Speaker 1: it has gotten better, but it's it's still there. And

470
00:23:50,480 --> 00:23:54,360
Speaker 1: I do have quite high taste when it comes to fashion,

471
00:23:54,520 --> 00:23:57,240
Speaker 1: so you know, the twenty dollar cotton on dress just

472
00:23:57,280 --> 00:23:59,280
Speaker 1: doesn't do it for me anymore. So I have to

473
00:23:59,680 --> 00:24:02,399
Speaker 1: I feel like I have to anyway, go you know,

474
00:24:02,640 --> 00:24:05,160
Speaker 1: go to the larger, more expensive brands.

475
00:24:05,600 --> 00:24:11,520
Speaker 4: Feels it's called lifestyle creep, my friend, we all experience it.

476
00:24:11,520 --> 00:24:14,119
Speaker 4: It is depressing when you start working it out and

477
00:24:14,359 --> 00:24:17,520
Speaker 4: do you know what's more frustrating is that I totally

478
00:24:17,520 --> 00:24:20,000
Speaker 4: get that the twenty dollars came out dress would have

479
00:24:20,000 --> 00:24:23,439
Speaker 4: probably done the same thing. Am I comfortable with it? Though?

480
00:24:23,680 --> 00:24:26,040
Speaker 4: Do I want that? No? Does that set my heart

481
00:24:26,080 --> 00:24:28,600
Speaker 4: on fire the same way that the steel dress I

482
00:24:28,680 --> 00:24:31,840
Speaker 4: have saved on my browser right now does? No. No,

483
00:24:31,920 --> 00:24:33,920
Speaker 4: I'm going to get the steel dress right.

484
00:24:34,400 --> 00:24:37,040
Speaker 1: And the worst part is that I hardly ever wear them.

485
00:24:37,160 --> 00:24:40,199
Speaker 1: So I've probably got ten to twelve dresses in my

486
00:24:40,240 --> 00:24:42,480
Speaker 1: wardrobe right now that I've never worn, but they're just

487
00:24:42,520 --> 00:24:43,080
Speaker 1: so pretty.

488
00:24:43,119 --> 00:24:48,840
Speaker 4: Oops. All right, before we go to the break money diarist,

489
00:24:49,320 --> 00:24:52,040
Speaker 4: if we forced you to give yourself a money grade,

490
00:24:52,240 --> 00:24:53,879
Speaker 4: what would your grade your money have its?

491
00:24:54,080 --> 00:24:57,320
Speaker 1: I thought about this and honestly, old me wouldn't even

492
00:24:57,400 --> 00:25:00,439
Speaker 1: sat down for the test. I would have completely skipped test,

493
00:25:00,640 --> 00:25:04,240
Speaker 1: wouldn't and just sort of accepted an F. Whereas now

494
00:25:04,359 --> 00:25:06,520
Speaker 1: I think I'm sitting in the C minus to be

495
00:25:06,720 --> 00:25:09,280
Speaker 1: plus kind of range because I've still got a long

496
00:25:09,320 --> 00:25:14,960
Speaker 1: way to go, but I've improved so so much. So yeah,

497
00:25:15,160 --> 00:25:17,000
Speaker 1: C plus to B minus range.

498
00:25:17,240 --> 00:25:19,280
Speaker 4: I feel like that's fair. I do have a few

499
00:25:19,359 --> 00:25:21,680
Speaker 4: questions for you, though, So let's go to a quick

500
00:25:21,760 --> 00:25:24,600
Speaker 4: break and we'll jump straight into them after that. All right,

501
00:25:24,640 --> 00:25:28,280
Speaker 4: money Diarist, We are back and I feel like our

502
00:25:28,320 --> 00:25:30,679
Speaker 4: office is a little bit baby crazy at the moment,

503
00:25:30,840 --> 00:25:33,840
Speaker 4: So I want to start by talking about your gorgeous

504
00:25:33,920 --> 00:25:37,520
Speaker 4: three month old. Can you talk us through that process

505
00:25:37,560 --> 00:25:40,440
Speaker 4: of planning for maternity leave? Before you mentioned that you're

506
00:25:40,480 --> 00:25:43,640
Speaker 4: taking some unpaid leave in addition to the paid maternity

507
00:25:43,720 --> 00:25:46,640
Speaker 4: leave that you're going to get. How did you budget

508
00:25:46,680 --> 00:25:49,560
Speaker 4: for that? How do we start thinking about topics like that.

509
00:25:49,720 --> 00:25:53,320
Speaker 4: I feel like it's so overwhelming when you're in this

510
00:25:53,400 --> 00:25:55,520
Speaker 4: phase of like, this is what I really want to do,

511
00:25:56,000 --> 00:25:58,159
Speaker 4: But then it's like the balance of one, do we

512
00:25:58,200 --> 00:26:00,560
Speaker 4: have the budget? But two how do you drop to

513
00:26:00,560 --> 00:26:03,560
Speaker 4: one income? So can you talk us through your mindset

514
00:26:03,560 --> 00:26:07,400
Speaker 4: and how that works? And yeah tell us all yeah, sure.

515
00:26:07,480 --> 00:26:09,960
Speaker 1: So we were fortunate that we didn't have to save

516
00:26:10,080 --> 00:26:12,959
Speaker 1: for any of the IVF processes or anything like that,

517
00:26:13,000 --> 00:26:16,440
Speaker 1: which I know can be a really big expense. So

518
00:26:16,800 --> 00:26:19,960
Speaker 1: for us, the biggest thing, you know, was buying everything

519
00:26:20,000 --> 00:26:21,679
Speaker 1: that you needed for a baby. And I know a

520
00:26:21,680 --> 00:26:24,040
Speaker 1: lot of people say that babies don't need much, but

521
00:26:24,920 --> 00:26:26,919
Speaker 1: it is a huge snowball and you think that you

522
00:26:27,000 --> 00:26:30,600
Speaker 1: do need everything that's out there. So I was fortunate

523
00:26:30,720 --> 00:26:33,000
Speaker 1: enough to be on a salary that I could save

524
00:26:33,160 --> 00:26:36,719
Speaker 1: quite a bit, so I've I managed to save and

525
00:26:36,760 --> 00:26:39,640
Speaker 1: pay outright for everything that we needed for the baby.

526
00:26:40,000 --> 00:26:42,840
Speaker 1: We also have a husband and I have quite a

527
00:26:42,880 --> 00:26:47,200
Speaker 1: big savings account to fall back on, so we once

528
00:26:47,440 --> 00:26:50,760
Speaker 1: I factored in what I was going to be getting

529
00:26:51,000 --> 00:26:53,320
Speaker 1: as the lump some sort of payment from the government

530
00:26:53,359 --> 00:26:55,800
Speaker 1: as well as my work, I just split that into

531
00:26:55,840 --> 00:26:59,119
Speaker 1: the twelve months and made that my new salary for

532
00:26:59,240 --> 00:27:03,840
Speaker 1: the month. So that salary combined with my husband's salary,

533
00:27:04,040 --> 00:27:06,680
Speaker 1: just sort of breaks even on all of our bills.

534
00:27:06,720 --> 00:27:09,640
Speaker 1: So I was fortunate for that. But then we also

535
00:27:09,720 --> 00:27:12,040
Speaker 1: did have the savings that we could fall back into,

536
00:27:12,080 --> 00:27:14,919
Speaker 1: but it was just more the preparation that was needed

537
00:27:14,920 --> 00:27:18,679
Speaker 1: to buy everything the car seat. It really does add up,

538
00:27:18,680 --> 00:27:22,200
Speaker 1: and I would say that we probably spent about five

539
00:27:22,320 --> 00:27:26,480
Speaker 1: grand leading into leading into the him being here.

540
00:27:26,880 --> 00:27:29,440
Speaker 4: Oh wow, can I ask you just said?

541
00:27:29,480 --> 00:27:32,160
Speaker 3: Obviously, it's really hard and I would totally be this

542
00:27:32,240 --> 00:27:35,520
Speaker 3: person who is like, I must have everything to be

543
00:27:35,960 --> 00:27:39,159
Speaker 3: as prepared as I can be. Was there anything that

544
00:27:39,240 --> 00:27:42,400
Speaker 3: you purchased pre baby that now that you have your

545
00:27:42,400 --> 00:27:45,080
Speaker 3: little one. You're like, that was so unnecessary.

546
00:27:45,200 --> 00:27:46,439
Speaker 4: Oh, such a good question.

547
00:27:46,960 --> 00:27:49,159
Speaker 1: Yes, and I have a very good example because I

548
00:27:49,280 --> 00:27:52,680
Speaker 1: just sold it on marketplace the money we need. Yeah,

549
00:27:52,720 --> 00:27:56,840
Speaker 1: so there is a particular brand of and I call

550
00:27:56,880 --> 00:28:00,000
Speaker 1: it a baby coffee machine. So because we're formula feeding,

551
00:28:00,119 --> 00:28:03,040
Speaker 1: it basically makes a bottle in thirty seconds. You press

552
00:28:03,080 --> 00:28:06,720
Speaker 1: one button and it's done. So no, thirds Yeah, it's

553
00:28:06,880 --> 00:28:12,240
Speaker 1: it's amazing that exists. Yes, So I bought it about

554
00:28:12,280 --> 00:28:15,359
Speaker 1: three months before the baby was here and had it

555
00:28:15,400 --> 00:28:17,760
Speaker 1: all set up on my kitchen bench ready to go.

556
00:28:18,440 --> 00:28:21,600
Speaker 1: And once he was here and we started the process,

557
00:28:21,800 --> 00:28:25,520
Speaker 1: it was just much easier. I found anyway to use

558
00:28:25,560 --> 00:28:28,560
Speaker 1: the old thermo and scooping the formula out of the

559
00:28:28,600 --> 00:28:31,080
Speaker 1: tin yourself. It took about a minute to make a bottle,

560
00:28:31,440 --> 00:28:34,679
Speaker 1: whereas this four hundred and fifty dollars machine did it

561
00:28:34,720 --> 00:28:37,639
Speaker 1: in thirty seconds and I didn't even turn it on.

562
00:28:38,000 --> 00:28:41,080
Speaker 1: So I sold it on marketplace only last week.

563
00:28:41,240 --> 00:28:45,040
Speaker 4: Yeah, oh my gosh, that's so expensive as well. It

564
00:28:45,120 --> 00:28:47,160
Speaker 4: was like, yeah, I didn't even know that was a thing,

565
00:28:47,200 --> 00:28:50,120
Speaker 4: a little baby coffee machine, but it does formula, not

566
00:28:50,240 --> 00:28:54,160
Speaker 4: the coffee, Like what yeah, they think of everything, Like

567
00:28:54,280 --> 00:28:57,360
Speaker 4: I only recently learned of that snoo thing that like

568
00:28:57,520 --> 00:29:00,800
Speaker 4: rocks your baby, and I'm mind blown that there's like

569
00:29:00,840 --> 00:29:03,880
Speaker 4: a device in a bed that rocks you. Anyway, Yeah,

570
00:29:03,920 --> 00:29:07,400
Speaker 4: probably sound very naive in comparison to a lot of

571
00:29:07,400 --> 00:29:10,360
Speaker 4: people who are listening to this podcast who are seasoned mothers,

572
00:29:10,360 --> 00:29:11,880
Speaker 4: and they're going to be like, Victoria, you don't know

573
00:29:11,920 --> 00:29:13,080
Speaker 4: what you're in for one day.

574
00:29:13,920 --> 00:29:14,240
Speaker 1: Yeah.

575
00:29:14,280 --> 00:29:17,360
Speaker 4: When it came to buying stuff for baby as well,

576
00:29:17,720 --> 00:29:19,800
Speaker 4: did you find that you had to make up a

577
00:29:19,840 --> 00:29:22,280
Speaker 4: budget at the start or did you collect things as

578
00:29:22,320 --> 00:29:25,240
Speaker 4: you go, Like how many things do you think, on

579
00:29:25,400 --> 00:29:28,280
Speaker 4: average a new mum would have to buy? Like was

580
00:29:28,280 --> 00:29:32,239
Speaker 4: that five grand an average baby shop? Or was it

581
00:29:32,280 --> 00:29:34,400
Speaker 4: a oh well, actually we got the cot and the

582
00:29:34,440 --> 00:29:36,680
Speaker 4: prem for free, like it was a handy down or

583
00:29:36,720 --> 00:29:40,680
Speaker 4: like what I guess scope did that five grand include?

584
00:29:41,080 --> 00:29:43,640
Speaker 1: Yeah? So again I had a queen of a spreadsheet

585
00:29:43,680 --> 00:29:46,040
Speaker 1: going and I had everything listened to what I wanted

586
00:29:46,320 --> 00:29:48,160
Speaker 1: and how much it was, where I could buy it,

587
00:29:48,200 --> 00:29:50,440
Speaker 1: where was the best deal. So I was very prepared

588
00:29:50,440 --> 00:29:52,520
Speaker 1: in that sense, but I probably just took it to

589
00:29:52,560 --> 00:29:55,600
Speaker 1: the next level in terms of as just said, I

590
00:29:55,640 --> 00:29:59,480
Speaker 1: felt like I needed absolutely anything just in case I

591
00:29:59,520 --> 00:30:03,280
Speaker 1: needed it, So I probably spent one thousand dollars over

592
00:30:03,360 --> 00:30:06,320
Speaker 1: what I probably needed to in a lot of the

593
00:30:06,400 --> 00:30:08,479
Speaker 1: gadgets that are on the market at the moment, and

594
00:30:08,480 --> 00:30:12,000
Speaker 1: they really know how to target mothers in particular. I

595
00:30:12,040 --> 00:30:14,680
Speaker 1: think that you need this to make sure your baby

596
00:30:14,800 --> 00:30:19,640
Speaker 1: is sleeping well overnight and is happy. And it was

597
00:30:19,920 --> 00:30:24,280
Speaker 1: just all all of those products I have actually used,

598
00:30:24,400 --> 00:30:27,200
Speaker 1: I really really did not need. So in terms of

599
00:30:27,240 --> 00:30:30,720
Speaker 1: the five grand I probably only needed to really spend

600
00:30:30,920 --> 00:30:35,320
Speaker 1: about four on the essentials. So the biggest one was

601
00:30:35,360 --> 00:30:38,040
Speaker 1: the prem. So my husband six foot four, so we

602
00:30:38,080 --> 00:30:41,320
Speaker 1: needed a prem that sat up quite high, and unfortunately

603
00:30:41,360 --> 00:30:44,440
Speaker 1: that meant for us that it was the most expensive one,

604
00:30:45,320 --> 00:30:48,160
Speaker 1: but it was just it was just worth it first

605
00:30:48,200 --> 00:30:50,560
Speaker 1: saving his back in my back on it, I'm five

606
00:30:50,600 --> 00:30:53,479
Speaker 1: foot tens as well, so I'm quite tall, so you know,

607
00:30:53,600 --> 00:30:57,360
Speaker 1: just that for us was a necessity item. And then

608
00:30:58,120 --> 00:31:01,200
Speaker 1: we unfortunately didn't have a lot of friends that I

609
00:31:01,240 --> 00:31:03,400
Speaker 1: had babies before us, so we didn't have things right

610
00:31:03,480 --> 00:31:06,720
Speaker 1: hand me downs or secondhand. And I know you can

611
00:31:06,720 --> 00:31:10,560
Speaker 1: buy a lot of things on marketplace, but they sometimes

612
00:31:10,560 --> 00:31:13,400
Speaker 1: advise just to buy a new for the safety side.

613
00:31:13,440 --> 00:31:14,040
Speaker 1: Of things. Ye.

614
00:31:14,200 --> 00:31:17,320
Speaker 4: Well, of course, of course, I feel like I wouldn't

615
00:31:17,360 --> 00:31:19,800
Speaker 4: even know where to start, So asking questions like this

616
00:31:19,880 --> 00:31:23,000
Speaker 4: is just personally very helpful, so I appreciate it. But

617
00:31:23,080 --> 00:31:25,760
Speaker 4: let's pivot away from baby stuff. I want to know

618
00:31:25,800 --> 00:31:29,360
Speaker 4: about savings while you are on maternity leave. So you

619
00:31:29,440 --> 00:31:32,040
Speaker 4: mentioned before that you've worked out your budget and like

620
00:31:32,080 --> 00:31:35,440
Speaker 4: your husband's income can help you cover bills and stuff

621
00:31:35,480 --> 00:31:39,160
Speaker 4: like that. Are you saving while you're on leave or

622
00:31:39,280 --> 00:31:41,480
Speaker 4: is that something that you like? Nope, we've just put

623
00:31:41,480 --> 00:31:43,720
Speaker 4: that to the side. That's not happening while we are

624
00:31:43,760 --> 00:31:44,920
Speaker 4: doing this. Yeah.

625
00:31:45,040 --> 00:31:46,960
Speaker 1: So, and I think this sort of touch back to

626
00:31:47,840 --> 00:31:50,080
Speaker 1: my old self and what I feel like I need

627
00:31:50,120 --> 00:31:54,480
Speaker 1: to do to make myself happy really is the method

628
00:31:54,520 --> 00:31:58,320
Speaker 1: of paying yourself first. So I actually give my husband

629
00:31:58,320 --> 00:32:00,360
Speaker 1: and I both give each other a three hundred fifty

630
00:32:00,400 --> 00:32:02,600
Speaker 1: dollars a week for our play money, which I know

631
00:32:02,760 --> 00:32:05,800
Speaker 1: sounds excessive, but that's just what we figure out we

632
00:32:05,800 --> 00:32:08,600
Speaker 1: need because they're both quite social people, so we do

633
00:32:08,680 --> 00:32:11,680
Speaker 1: have quite a large play money bucket that we dip

634
00:32:11,720 --> 00:32:15,600
Speaker 1: into every week, so there is an opportunity for us

635
00:32:15,640 --> 00:32:18,200
Speaker 1: to save, but that hasn't been our goal. Well on

636
00:32:18,280 --> 00:32:22,120
Speaker 1: attornity leave, so we have quite a big amount of

637
00:32:22,200 --> 00:32:25,720
Speaker 1: money that we can use every week just for you know,

638
00:32:25,880 --> 00:32:28,200
Speaker 1: going out to dinners and things like that. But if

639
00:32:28,240 --> 00:32:31,080
Speaker 1: we can save money after that point, then that's great.

640
00:32:31,120 --> 00:32:33,200
Speaker 1: If we don't, we haven't put the pressure on ourselves

641
00:32:33,240 --> 00:32:33,840
Speaker 1: to as well.

642
00:32:34,280 --> 00:32:38,640
Speaker 3: I think it's a new mum that you can't undervalue

643
00:32:38,880 --> 00:32:43,600
Speaker 3: as well giving yourself the opportunity to do something for you.

644
00:32:43,680 --> 00:32:45,640
Speaker 3: And this is applicable to any I guess a new

645
00:32:45,720 --> 00:32:49,440
Speaker 3: parent who is you know, primarily caregiving. You're the one

646
00:32:49,440 --> 00:32:51,880
Speaker 3: on attorney leave, so I'm assuming this situation you're the

647
00:32:51,880 --> 00:32:54,960
Speaker 3: one who's with love the most. I think that as

648
00:32:55,040 --> 00:32:58,400
Speaker 3: much as you say it seems really excessive, you're not

649
00:32:58,560 --> 00:33:01,720
Speaker 3: getting to go to work every day like you would

650
00:33:01,760 --> 00:33:05,600
Speaker 3: normally and have those adult interactions. You're not getting time

651
00:33:05,640 --> 00:33:08,280
Speaker 3: away from your little one, who of course you would

652
00:33:08,280 --> 00:33:11,200
Speaker 3: love immensely. I have no doubt, but I think that

653
00:33:11,600 --> 00:33:14,800
Speaker 3: you need to remember that there is so much value

654
00:33:15,280 --> 00:33:18,640
Speaker 3: in giving your self space because you deserve that as

655
00:33:18,800 --> 00:33:21,480
Speaker 3: just a human being. And yes, it might be costing

656
00:33:21,520 --> 00:33:24,400
Speaker 3: you money, but I think maybe for your mental health,

657
00:33:24,400 --> 00:33:28,120
Speaker 3: particularly because you said you're a super social person, I

658
00:33:28,280 --> 00:33:31,600
Speaker 3: do think that it's really important that you're recognizing that,

659
00:33:31,720 --> 00:33:34,719
Speaker 3: and it's really admirable you've gone, Okay, well right now,

660
00:33:34,960 --> 00:33:35,880
Speaker 3: this is what I need.

661
00:33:36,320 --> 00:33:36,520
Speaker 4: Yeah.

662
00:33:36,560 --> 00:33:39,960
Speaker 1: Absolutely, And we said before that before we started trying

663
00:33:39,960 --> 00:33:42,280
Speaker 1: for a baby, that we wanted the baby to fit

664
00:33:42,280 --> 00:33:45,400
Speaker 1: into our lifestyle rather than change our life to suit baby,

665
00:33:45,760 --> 00:33:47,840
Speaker 1: and we were just watuningate that we had a salary

666
00:33:47,840 --> 00:33:51,040
Speaker 1: that we could maintain our lifestyle while me being on

667
00:33:51,120 --> 00:33:54,320
Speaker 1: the tonity leave just to we didn't want to miss

668
00:33:54,360 --> 00:33:56,479
Speaker 1: out on things and feel like that we had to

669
00:33:56,560 --> 00:34:00,000
Speaker 1: give up that aspect of our life just because they

670
00:34:00,320 --> 00:34:03,920
Speaker 1: was here. So again, quite a fortunate position to be in,

671
00:34:03,960 --> 00:34:07,560
Speaker 1: and I definitely don't take that for granted, but that's

672
00:34:07,640 --> 00:34:10,200
Speaker 1: just the concession that my husband and I had that

673
00:34:10,239 --> 00:34:12,960
Speaker 1: we wanted to still maintain what we wanted to do

674
00:34:13,080 --> 00:34:15,399
Speaker 1: and not feel guilty about that money.

675
00:34:15,520 --> 00:34:19,600
Speaker 4: Ros we've talked about budgeting for baby and planning what

676
00:34:19,840 --> 00:34:24,240
Speaker 4: was going on, and earlier in this episode, you actually

677
00:34:24,280 --> 00:34:28,120
Speaker 4: said that you saw a financial advisor about twelve months ago.

678
00:34:28,840 --> 00:34:32,719
Speaker 4: What was that trigger point of seeing a financial advisor

679
00:34:32,840 --> 00:34:36,319
Speaker 4: potentially having a baby? Is that where we were at

680
00:34:36,520 --> 00:34:39,600
Speaker 4: mind frame wise? Like, what was a trigger point for

681
00:34:39,640 --> 00:34:41,640
Speaker 4: saying an advisor, I guess, is what I'm trying to

682
00:34:41,640 --> 00:34:44,000
Speaker 4: get around to asking. Yeah.

683
00:34:44,040 --> 00:34:47,920
Speaker 1: Absolutely, So there was two. One was definitely planning for

684
00:34:48,000 --> 00:34:50,960
Speaker 1: our family. The other one was just learning more about

685
00:34:50,960 --> 00:34:55,560
Speaker 1: the shares an investment market. So we had a con

686
00:34:55,719 --> 00:34:58,279
Speaker 1: sec account going and we just weren't sure if that

687
00:34:58,440 --> 00:35:00,359
Speaker 1: was where we needed to be for the the best

688
00:35:00,360 --> 00:35:03,320
Speaker 1: financial outcome or if we needed to move that into

689
00:35:04,000 --> 00:35:07,759
Speaker 1: you know, the other areas of investing. So we just

690
00:35:07,760 --> 00:35:11,239
Speaker 1: wanted to get advice on that really, and then that

691
00:35:11,400 --> 00:35:16,160
Speaker 1: sort of rolled into combining you know, consolidating soupers and

692
00:35:16,200 --> 00:35:17,920
Speaker 1: what we need to do for a wheels, what we

693
00:35:18,000 --> 00:35:21,200
Speaker 1: need to do for you know, setting our child up

694
00:35:21,280 --> 00:35:23,680
Speaker 1: for the best future that he can have as well.

695
00:35:24,200 --> 00:35:28,200
Speaker 1: I'm really concerned should say concerned, I'm not sure, but

696
00:35:28,360 --> 00:35:32,280
Speaker 1: concerned about the housing market, you know, when he's twenty

697
00:35:32,320 --> 00:35:34,759
Speaker 1: five years old. So I'd love to have the opportunity

698
00:35:34,800 --> 00:35:38,560
Speaker 1: to give him a bit of a house deposit already

699
00:35:38,560 --> 00:35:40,960
Speaker 1: sitting there. So I just wanted to get the ball

700
00:35:41,040 --> 00:35:43,920
Speaker 1: rolling really on how that all works.

701
00:35:44,480 --> 00:35:47,680
Speaker 4: I love that, and I feel like financial advice is

702
00:35:47,719 --> 00:35:51,640
Speaker 4: something that people often have triggers for, so you'll go

703
00:35:52,040 --> 00:35:55,120
Speaker 4: ages not even considering it and then there's some kind

704
00:35:55,160 --> 00:35:57,880
Speaker 4: of life change and you go, we should talk to

705
00:35:57,960 --> 00:36:00,880
Speaker 4: an advice now, like we probably should edit together and

706
00:36:00,920 --> 00:36:03,680
Speaker 4: have that chat. But the next question I want to

707
00:36:03,680 --> 00:36:05,839
Speaker 4: ask you is actually about Super. So you talked about

708
00:36:05,920 --> 00:36:10,120
Speaker 4: rolling Super together and while you're on maternity leave, you

709
00:36:10,200 --> 00:36:13,720
Speaker 4: wouldn't be contributing to Super through your salary because that's

710
00:36:14,000 --> 00:36:17,080
Speaker 4: not a part of it. But have you and your partner,

711
00:36:17,400 --> 00:36:19,759
Speaker 4: and I mean maybe not, because you do have a

712
00:36:20,080 --> 00:36:24,080
Speaker 4: pretty healthy looking Superannuation account, but if you and your

713
00:36:24,120 --> 00:36:26,799
Speaker 4: partner talked about what that would mean for you to

714
00:36:27,040 --> 00:36:30,879
Speaker 4: miss contributions to Superannuation during that time that you're off

715
00:36:30,920 --> 00:36:31,120
Speaker 4: for you.

716
00:36:31,680 --> 00:36:33,839
Speaker 1: Look, we haven't had the discussion, but I've been very

717
00:36:33,880 --> 00:36:36,000
Speaker 1: aware of it because it's quite a hot topic in

718
00:36:36,120 --> 00:36:38,600
Speaker 1: the mother's online mother's group that I'm in that has,

719
00:36:38,680 --> 00:36:40,800
Speaker 1: you know, three thousand members and a lot of people

720
00:36:40,840 --> 00:36:44,880
Speaker 1: do talk about this. We again didn't have the conversation,

721
00:36:45,120 --> 00:36:48,879
Speaker 1: and I'm currently not contributing to Super again. I think

722
00:36:48,960 --> 00:36:51,799
Speaker 1: it's also because I did have the larger balance sitting there,

723
00:36:51,800 --> 00:36:54,920
Speaker 1: so I felt like I maybe wasn't really missing it

724
00:36:55,040 --> 00:36:57,879
Speaker 1: over the next twelve months, and I knew that when

725
00:36:57,920 --> 00:36:59,839
Speaker 1: I go back to work, I'm going back to all

726
00:36:59,880 --> 00:37:03,040
Speaker 1: my full time salary as well, so I could not

727
00:37:03,200 --> 00:37:05,200
Speaker 1: make up for the time. But I you know, it's

728
00:37:05,239 --> 00:37:07,640
Speaker 1: not like I'm only going back part time, where again

729
00:37:07,680 --> 00:37:11,680
Speaker 1: I would miss the next fifteen years of contributing the

730
00:37:11,719 --> 00:37:12,800
Speaker 1: same sort of amount.

731
00:37:13,680 --> 00:37:17,200
Speaker 4: Yeah. So yeah, you've thought about it, but it wasn't

732
00:37:17,239 --> 00:37:20,000
Speaker 4: the biggest priority. I feel like potentially that would have

733
00:37:20,120 --> 00:37:22,360
Speaker 4: changed if you'd looked at it and had like twenty

734
00:37:22,400 --> 00:37:26,360
Speaker 4: thousand dollars in Super, You'd be like, oh, actually, maybe

735
00:37:26,360 --> 00:37:29,200
Speaker 4: we need to plan around this. But yeah, financially, I

736
00:37:29,239 --> 00:37:32,239
Speaker 4: think you're doing fine because it sounds like you've turbocharged

737
00:37:32,280 --> 00:37:32,760
Speaker 4: your career.

738
00:37:33,320 --> 00:37:33,560
Speaker 1: Yeah.

739
00:37:33,840 --> 00:37:37,319
Speaker 3: Yeah, speaking of career, just before we head off, I

740
00:37:37,360 --> 00:37:39,239
Speaker 3: wanted to swing it back around. I know we've been

741
00:37:39,280 --> 00:37:41,600
Speaker 3: chatting out baby Beau but all maybe crazy, but just

742
00:37:41,600 --> 00:37:44,440
Speaker 3: to change that, Super Jess and Super as well, I

743
00:37:44,480 --> 00:37:47,040
Speaker 3: wanted to just chat about you a little bit and ask,

744
00:37:47,239 --> 00:37:49,960
Speaker 3: as a fellow degreeless person who has worked their way

745
00:37:50,040 --> 00:37:53,439
Speaker 3: up in this industry, how did that look for You've

746
00:37:53,440 --> 00:37:56,880
Speaker 3: obviously sat at one company for many years now, and

747
00:37:57,000 --> 00:37:59,560
Speaker 3: you came in on kind of a more entry level role.

748
00:38:00,080 --> 00:38:02,480
Speaker 3: How did that career progression go. Did you put your

749
00:38:02,560 --> 00:38:05,400
Speaker 3: hand up, were you talking to managers asking for promotions?

750
00:38:05,440 --> 00:38:08,399
Speaker 3: Did you just wait for the right opportunity? How did

751
00:38:08,440 --> 00:38:09,880
Speaker 3: you take those steps? Because I think there'd be a

752
00:38:09,880 --> 00:38:13,200
Speaker 3: lot of people in a similar boat who maybe don't

753
00:38:13,200 --> 00:38:15,839
Speaker 3: have the degree to back stepping right into a big role,

754
00:38:15,840 --> 00:38:18,280
Speaker 3: but have big inspirations to do what you've done.

755
00:38:18,520 --> 00:38:21,719
Speaker 1: Yeah, so definitely it was seeking out other opportunities as

756
00:38:21,719 --> 00:38:24,240
Speaker 1: they came up. I didn't really wait around for someone

757
00:38:24,280 --> 00:38:25,719
Speaker 1: to tap me on the shoulder and say, hey, do

758
00:38:25,760 --> 00:38:28,320
Speaker 1: you want to do this? That has happened once in

759
00:38:28,480 --> 00:38:32,160
Speaker 1: that career stepping stone, and I was very lucky for

760
00:38:32,200 --> 00:38:34,600
Speaker 1: that because that landed me what I'm in, the role

761
00:38:34,600 --> 00:38:41,000
Speaker 1: i'm in now. However, I just, yeah, again, just took

762
00:38:41,000 --> 00:38:43,799
Speaker 1: the opportunities as they came up. I consulted with the

763
00:38:44,000 --> 00:38:47,600
Speaker 1: HR team at my current employer as well. Obviously, the

764
00:38:47,760 --> 00:38:51,680
Speaker 1: industry i'm in as well is a largely male dominated industry,

765
00:38:51,880 --> 00:38:55,359
Speaker 1: So for instance, in my team of twenty five, I'm

766
00:38:55,360 --> 00:38:59,319
Speaker 1: the only female. There was a lot of opportunity sort

767
00:38:59,320 --> 00:39:02,319
Speaker 1: of given away those lower level sort of roles to

768
00:39:02,440 --> 00:39:05,719
Speaker 1: really just take little baby steps to sort of get

769
00:39:05,719 --> 00:39:07,320
Speaker 1: where I'm at today. Incredible.

770
00:39:07,480 --> 00:39:09,560
Speaker 3: How do you find being the only female in a

771
00:39:09,600 --> 00:39:12,240
Speaker 3: team of twenty five, because that's not an easy position

772
00:39:12,280 --> 00:39:14,000
Speaker 3: I wouldn't imagine to find yourself in.

773
00:39:14,480 --> 00:39:14,719
Speaker 4: Yeah.

774
00:39:14,840 --> 00:39:18,000
Speaker 1: So before going into this industria that she worked in

775
00:39:18,080 --> 00:39:21,720
Speaker 1: legal services where there was a major lee female team

776
00:39:22,280 --> 00:39:26,400
Speaker 1: as a legal secretary. So I really enjoy the different

777
00:39:27,000 --> 00:39:29,760
Speaker 1: side of things, and obviously heading into Materney leave as well,

778
00:39:30,120 --> 00:39:33,239
Speaker 1: they were very supportive and it's just it's a very

779
00:39:33,239 --> 00:39:36,400
Speaker 1: different environment about an enjoyable one as well.

780
00:39:36,640 --> 00:39:39,480
Speaker 4: Incredible, Jess. I know that you thought that was going

781
00:39:39,560 --> 00:39:41,719
Speaker 4: to be your last question, and it was maybe your

782
00:39:41,840 --> 00:39:45,560
Speaker 4: last question. But when we were introducing our money Diarist,

783
00:39:45,960 --> 00:39:49,319
Speaker 4: she had explained that she was in debt and offline

784
00:39:49,480 --> 00:39:51,960
Speaker 4: we had been talking about credit scores, and I feel

785
00:39:51,960 --> 00:39:55,440
Speaker 4: like I want to finish their money Diarist. When it

786
00:39:55,480 --> 00:39:58,799
Speaker 4: came to debt and credit scores and being in a

787
00:39:58,800 --> 00:40:00,640
Speaker 4: little bit of a pickle, you, I'm saying you were

788
00:40:00,640 --> 00:40:04,120
Speaker 4: pretty severely impacted by, you know, not having a very

789
00:40:04,160 --> 00:40:06,799
Speaker 4: shiny credit score. Can you tell us a little bit

790
00:40:06,880 --> 00:40:09,920
Speaker 4: about that? And I guess how you got out of

791
00:40:09,960 --> 00:40:10,799
Speaker 4: that situation?

792
00:40:11,280 --> 00:40:14,080
Speaker 1: Yeah? Sure, So growing up I really didn't even know

793
00:40:14,080 --> 00:40:15,840
Speaker 1: what a credit score was, and by the time I

794
00:40:15,920 --> 00:40:18,960
Speaker 1: knew what it was, it was too late. So in

795
00:40:19,000 --> 00:40:22,200
Speaker 1: my early twenties I had gotten myself into about twelve

796
00:40:22,200 --> 00:40:25,040
Speaker 1: gram with a credit card debt and really just buried

797
00:40:25,040 --> 00:40:26,839
Speaker 1: my head in the sand. So I was the type

798
00:40:26,840 --> 00:40:29,760
Speaker 1: of person that was ignoring the calls, ignoring the mail.

799
00:40:30,120 --> 00:40:31,840
Speaker 1: I knew I would be getting a letter from my

800
00:40:31,880 --> 00:40:33,440
Speaker 1: bank and I would just rip it up and put

801
00:40:33,480 --> 00:40:36,400
Speaker 1: it in the bin. Yeah, which is horrible.

802
00:40:36,680 --> 00:40:39,120
Speaker 4: No, it just feels like I can feel that stress,

803
00:40:39,320 --> 00:40:41,040
Speaker 4: like when you say I'd rip it up and put

804
00:40:41,040 --> 00:40:42,680
Speaker 4: it in the bins, Like I didn't even want to

805
00:40:42,719 --> 00:40:44,839
Speaker 4: look at it, like just get it out of sight,

806
00:40:44,960 --> 00:40:47,160
Speaker 4: out of mind. If it's all ripped up, it doesn't exist.

807
00:40:47,600 --> 00:40:50,719
Speaker 1: Absolutely. And I was the type of person, which I

808
00:40:50,760 --> 00:40:53,240
Speaker 1: know has been spoken about heaps in the community as well,

809
00:40:53,400 --> 00:40:56,439
Speaker 1: is the just living for that moment and not really

810
00:40:56,480 --> 00:40:59,520
Speaker 1: caring about future self. And I was the person that

811
00:40:59,640 --> 00:41:02,719
Speaker 1: you would always see going out traveling and eating at

812
00:41:02,719 --> 00:41:05,840
Speaker 1: fancy dinners and having all of the fancy clothes. But

813
00:41:06,400 --> 00:41:10,400
Speaker 1: behind the scenes, I was in really a really bad

814
00:41:10,520 --> 00:41:13,719
Speaker 1: place financially where I didn't eat, I didn't look at

815
00:41:13,719 --> 00:41:16,160
Speaker 1: my makeup, I did not log into my makeout, I

816
00:41:16,160 --> 00:41:19,560
Speaker 1: did not log into any of my debt portals, nothing

817
00:41:19,640 --> 00:41:21,800
Speaker 1: like that, because I was just ignoring it, which just

818
00:41:21,880 --> 00:41:24,800
Speaker 1: impacted my credit score massively. And by the time that

819
00:41:24,920 --> 00:41:27,719
Speaker 1: I realized what impact that had on just day to

820
00:41:27,840 --> 00:41:31,680
Speaker 1: day lives, so phone plans, things like that, it was

821
00:41:31,719 --> 00:41:34,360
Speaker 1: too late for me. I couldn't I couldn't get it

822
00:41:34,400 --> 00:41:37,319
Speaker 1: back up. So once I accepted the debt, and I

823
00:41:37,480 --> 00:41:40,200
Speaker 1: just accepted that first phone call from the debt company

824
00:41:40,239 --> 00:41:42,799
Speaker 1: saying hey, you know, and they weren't as scary as

825
00:41:42,840 --> 00:41:44,719
Speaker 1: what I thought they would be. I thought they were

826
00:41:44,719 --> 00:41:47,360
Speaker 1: going to get on the line and just completely almost

827
00:41:47,400 --> 00:41:48,880
Speaker 1: destroy me. But they were, Oh my.

828
00:41:48,880 --> 00:41:51,760
Speaker 4: Gosh, no, they're usually super kind.

829
00:41:52,719 --> 00:41:55,480
Speaker 1: Yeah, and they were very All they wanted to do

830
00:41:55,680 --> 00:41:58,359
Speaker 1: was just to make sure that I was aware of

831
00:41:58,400 --> 00:42:01,879
Speaker 1: what I had and how can they help me get

832
00:42:01,920 --> 00:42:04,560
Speaker 1: to where I needed to be, which was really positive

833
00:42:04,600 --> 00:42:07,880
Speaker 1: in the end. So that all sort of started spiring

834
00:42:07,920 --> 00:42:10,640
Speaker 1: when I was twenty two, twenty three, and now twenty nine,

835
00:42:10,920 --> 00:42:13,279
Speaker 1: and only I was of about two months ago. I

836
00:42:13,320 --> 00:42:15,600
Speaker 1: have my credit ratings back up to where it should

837
00:42:15,640 --> 00:42:18,360
Speaker 1: be and I don't have any defaults as to that anymore.

838
00:42:18,880 --> 00:42:21,479
Speaker 1: And I just I think I just wanted to say

839
00:42:21,480 --> 00:42:25,240
Speaker 1: that it's a long process, but you know, the years

840
00:42:25,280 --> 00:42:28,680
Speaker 1: toick by so quickly, and so I'm not even thirty yet,

841
00:42:28,760 --> 00:42:32,719
Speaker 1: and I have the opportunity now to go out and

842
00:42:32,800 --> 00:42:35,440
Speaker 1: get you know, the house that I'm I'm in now

843
00:42:35,640 --> 00:42:38,960
Speaker 1: is I'm in my husband's naying because I couldn't. Yeah,

844
00:42:38,960 --> 00:42:40,959
Speaker 1: I couldn't do that. I didn't have a pand squat.

845
00:42:42,239 --> 00:42:45,160
Speaker 4: Yeah, I really couldn't even do the home loan thing

846
00:42:45,280 --> 00:42:48,799
Speaker 4: with your partner because your credit score was just not

847
00:42:48,880 --> 00:42:49,680
Speaker 4: having a good time.

848
00:42:50,560 --> 00:42:53,520
Speaker 1: Yeah, and again, but by the time I realized what

849
00:42:53,560 --> 00:42:56,239
Speaker 1: it was and what impact it had, it was too late.

850
00:42:56,520 --> 00:42:57,440
Speaker 1: So oh my.

851
00:42:57,280 --> 00:43:00,239
Speaker 4: Gosh, I feel like that's really powerful though. And what

852
00:43:00,239 --> 00:43:03,320
Speaker 4: you just said before about how the years go really quickly,

853
00:43:03,880 --> 00:43:06,560
Speaker 4: it's both ways, Like they go really quickly if you're

854
00:43:06,600 --> 00:43:10,040
Speaker 4: not acting on a debt either, like they go really

855
00:43:10,120 --> 00:43:11,920
Speaker 4: quickly and you're like, oh my gosh, I can't believe

856
00:43:11,920 --> 00:43:13,920
Speaker 4: it's been like three or four years and this is

857
00:43:14,040 --> 00:43:16,600
Speaker 4: still sitting there. But like we could have used that

858
00:43:16,760 --> 00:43:18,799
Speaker 4: time to get out of debt. So I feel like

859
00:43:19,160 --> 00:43:21,160
Speaker 4: the sooner you just pick up the phone, the sooner

860
00:43:21,200 --> 00:43:23,200
Speaker 4: you put a plan in place. The sooner you pull

861
00:43:23,239 --> 00:43:25,319
Speaker 4: your head out of the sand, the better for you,

862
00:43:25,400 --> 00:43:28,040
Speaker 4: because now you're twenty nine and you've got all of

863
00:43:28,080 --> 00:43:31,520
Speaker 4: these wealth creating opportunities ahead of you, and it's not

864
00:43:31,760 --> 00:43:34,319
Speaker 4: the worst thing in the entire world. Whereas if you'd

865
00:43:34,400 --> 00:43:37,319
Speaker 4: left this for another ten years or another fifteen years,

866
00:43:37,360 --> 00:43:39,759
Speaker 4: which lots of people do, you would have been in

867
00:43:39,800 --> 00:43:41,120
Speaker 4: a pretty big pickle.

868
00:43:41,640 --> 00:43:44,360
Speaker 1: Absolutely, And I didn't want to have the conversation with anyone,

869
00:43:44,440 --> 00:43:47,200
Speaker 1: didn't want to have the conversation with myself, with my partner,

870
00:43:47,280 --> 00:43:50,080
Speaker 1: with anyone about it. So I just ignored it, and

871
00:43:50,080 --> 00:43:52,759
Speaker 1: I probably ignored it two to three years longer than

872
00:43:52,800 --> 00:43:53,440
Speaker 1: what I should have.

873
00:43:55,040 --> 00:43:57,839
Speaker 4: Yeah, I feel like, my friend, that is a really

874
00:43:57,880 --> 00:44:00,960
Speaker 4: good place to leave it. We have covered so much

875
00:44:01,120 --> 00:44:03,960
Speaker 4: in these money stories, so thank you so much for

876
00:44:04,000 --> 00:44:06,920
Speaker 4: your time. But unfortunately I do think that is all

877
00:44:06,960 --> 00:44:09,480
Speaker 4: we have time for today. So just before we head off,

878
00:44:09,520 --> 00:44:13,040
Speaker 4: we'd like to acknowledge and pay respect to Australia's Aboriginal

879
00:44:13,080 --> 00:44:16,719
Speaker 4: and Torres Strait islander peoples. They're the traditional custodians of

880
00:44:16,719 --> 00:44:20,520
Speaker 4: the lands, the waterways and the skies all across Australia.

881
00:44:20,960 --> 00:44:23,080
Speaker 4: We thank you for sharing and for caring for the

882
00:44:23,160 --> 00:44:25,839
Speaker 4: land on which we are able to learn. We pay

883
00:44:25,960 --> 00:44:28,719
Speaker 4: respects to elders past and present, and we share our

884
00:44:28,760 --> 00:44:30,560
Speaker 4: friendship and our kindness.

885
00:44:30,880 --> 00:44:33,240
Speaker 3: The advice shared on She's on the Money is generally

886
00:44:33,320 --> 00:44:36,680
Speaker 3: nature and does not consider your individual circumstances. She's on

887
00:44:36,760 --> 00:44:39,879
Speaker 3: the Money exists purely for educational purposes and should not

888
00:44:39,920 --> 00:44:42,760
Speaker 3: be relied upon to make an investment or a financial decision,

889
00:44:43,080 --> 00:44:46,239
Speaker 3: and we promise. Victoria Divine is an authorized representative of

890
00:44:46,280 --> 00:44:50,759
Speaker 3: Infocused Securities Australia Proprietary Limited ABN four seven oh nine

891
00:44:50,880 --> 00:44:54,319
Speaker 3: seven seven ninety seven zero four nine AFSL two three

892
00:44:54,440 --> 00:44:55,760
Speaker 3: six five two three.

893
00:44:55,960 --> 00:44:57,160
Speaker 4: See you next week, guys.

894
00:44:57,440 --> 00:45:08,120
Speaker 3: Bye,