Speaker 1: Hello.
Speaker 2: My name is Satasha Nabananga Bamblet. I'm a proud Yr
Speaker 2: the Order Kerni Whaltbury and a waddery woman. And before
Speaker 2: we get started on She's on the Money podcast, I
Speaker 2: would like to acknowledge the traditional custodians of the land
Speaker 2: of which this podcast is recorded on a wondery country,
Speaker 2: acknowledging the elders, the ancestors and the next generation coming through.
Speaker 2: As this podcast is about connecting, empowering, knowledge sharing and
Speaker 2: the storytelling of you to make a difference for today
Speaker 2: and lasting impact for tomorrow.
Speaker 1: Let's get into it.
Speaker 3: She's on the Money. She's on the Money.
Speaker 1: Hello, and welcome to She's on the Money, the podcast
Speaker 1: that lets you be pervy about other people's money habits
Speaker 1: for educational purposes, of course. Welcome back to another episode
Speaker 1: of our Money Daries, where I get the absolute pleasure
Speaker 1: of sitting down and talking to one of our incredible
Speaker 1: She's on the Money community members all about their journey.
Speaker 1: Let's jump straight into it, because this week I got
Speaker 1: a message and it sounded exactly like this, Dear She's
Speaker 1: on the Money. I grew up seeing my parents go
Speaker 1: through bankruptcy and while I was only about nine at
Speaker 1: the time. It had a lasting effect on me, and
Speaker 1: so I'm the opposite. But my partner, on the other hand,
Speaker 1: has struggled with addiction to smoking and alcohol, which put
Speaker 1: him in debt. So I had to get involved and
Speaker 1: help him manage his finances and get him back on track.
Speaker 1: Now we are debt free and we are seeing a
Speaker 1: financial advisor to set us up for our future. But honestly,
Speaker 1: I feel like I'm pulling my husband along for the
Speaker 1: ride money dorist. I feel like this is going to
Speaker 1: be a little bit of a relatable one for all
Speaker 1: the people who listen to She's on the Money, but
Speaker 1: maybe their partners aren't as brought in as they are.
Speaker 1: So I've write in Money direst, could you let me
Speaker 1: know what you think your money habits are. If I
Speaker 1: asked you to give them a grade from A through to.
Speaker 4: F, I would probably give it an A because I
Speaker 4: feel like I'm on top of my money and I
Speaker 4: consider myself good at saving and have also helped my
Speaker 4: partner get into a similar position. But also I would
Speaker 4: love to get a little bit more educated in the
Speaker 4: realm of investing, as I've only just kind of started
Speaker 4: to dabble my toes into that.
Speaker 1: I love that and I adore that. You're like, no,
Speaker 1: I'm in a because so many women undervalue how good
Speaker 1: they are at money, Like They're all like, oh, I'm
Speaker 1: a C. And then I'm like, are you really a C?
Speaker 1: Because we just went through how good you are at money?
Speaker 1: I love that? So can we dive a bit further in?
Speaker 1: You told us in your letter in a little bit
Speaker 1: about your money story, but I need to know more money, Darrest.
Speaker 1: Can you tell me a bit more about that money
Speaker 1: story of yours?
Speaker 4: Yeah, So I grew up with my family, so my
Speaker 4: brother and my parents, and they went through some struggles,
Speaker 4: some hardships early on positive ending to their story, but
Speaker 4: they pretty much were the type of people that would
Speaker 4: take on any job. They did things from cleaning to
Speaker 4: office work. My mum even worked in an avatar at
Speaker 4: one point, so they pretty much took on whatever they
Speaker 4: could put food on the table, which was fantastic. But unfortunately,
Speaker 4: I remember the memory of our car being repossessed, and
Speaker 4: that's just something that's kind of just stuck in the
Speaker 4: back of my head and it made me certainly be
Speaker 4: aware of money and the fact that money was spent
Speaker 4: on things, And so when I was growing up, I
Speaker 4: consciously thought about the opportunities that were given to me
Speaker 4: and whether I should take those opportunities or not, and
Speaker 4: if they cost my parents' money, I was more inclined
Speaker 4: to not tell them about it. But obviously kids being kids,
Speaker 4: I did have some opportunities come my way that I'm like,
Speaker 4: I really want to do that, and I knew my
Speaker 4: parents would make that happen for me if I wanted
Speaker 4: to do that.
Speaker 1: Yeah, I love that. Can I ask a little bit
Speaker 1: more about that experience of getting your car repossessed, because
Speaker 1: like you were like nine, you said, so you were
Speaker 1: quite young. But was that like a really traumatic experience
Speaker 1: or was that something that you know, after it happened
Speaker 1: your parents were really upset, or like, what about that
Speaker 1: really stuck in your mind?
Speaker 4: I think it was just the image of seeing the
Speaker 4: car being towed away and my mom's reaction to that.
Speaker 4: So my mom was obviously quite devastated, was upset, and
Speaker 4: that's just something that's kind of stuck in my brain.
Speaker 4: I couldn't tell you, you know, the circumstances as to
Speaker 4: how that happened or anything around that. It's just something
Speaker 4: that I remember, and I could be remembering it wrong
Speaker 4: for all I know.
Speaker 1: No, but it is like a pivotal moment in your journey,
Speaker 1: and it's always something like that that you're like, it
Speaker 1: was that moment that I was like, Wow, that's something
Speaker 1: I never want to experience as an adult.
Speaker 4: Yeah, for sure.
Speaker 1: So talk to me a little bit more about what
Speaker 1: you do now for work and how much money you earn.
Speaker 4: So I'm a teacher, so I suppose giving myself an
Speaker 4: a I'm used to grading things.
Speaker 1: Now, so she's accurate.
Speaker 4: I would like to think I'm on point with grading.
Speaker 4: So I'm a teacher. I've been teaching about nine ten years,
Speaker 4: and I'm currently earning one hundred and sixteen thousand plus.
Speaker 1: Super very cool. And how long did it take you
Speaker 1: to get to earning like one hundred and sixteen thousand?
Speaker 1: Do you remember like your first salary as a teacher.
Speaker 1: What did that look like?
Speaker 4: I think the first salary was probably somewhere around the
Speaker 4: sixty seventy thousand dollar mark. It's not too bad, not
Speaker 4: too bad, like a good starting out, you know. I mean,
Speaker 4: I did go to UNI and did two degrees to
Speaker 4: get there, so it was nice having that fairly solid
Speaker 4: income coming in that I certainly wasn't used to it
Speaker 4: at the time.
Speaker 1: No, I love that. And earlier you said, like, hey,
Speaker 1: my parents would literally do any job like they did cleaning,
Speaker 1: they did, you said, office work, and your mum even
Speaker 1: at one point worked in an abatois. Like did your
Speaker 1: parents I'm assuming they didn't go to university? What was
Speaker 1: that like? Getting to graduate from UNI and your parents
Speaker 1: having not had the opportunity to have a career as
Speaker 1: much as you did.
Speaker 4: It was a good feeling to feel like I had
Speaker 4: accomplished something. And I think I made them really proud
Speaker 4: in doing that, because they did. Both of them didn't
Speaker 4: graduate high school. So my plan was to graduate high
Speaker 4: school to start off with, and then I also wanted
Speaker 4: further that and I wanted to graduate UNI and ended
Speaker 4: up doing two degrees. So I started off with a
Speaker 4: media degree essentially, and then I went and did a
Speaker 4: master's of teaching.
Speaker 1: I love that. I just know that your mum brags
Speaker 1: about you all the time. She tells all her friends,
Speaker 1: doesn't she like, she will tell everyone? And what did
Speaker 1: your brother go on to do?
Speaker 4: He ended up welding?
Speaker 1: Oh, she tells everybody. She tells everybody about her two
Speaker 1: kids in their careers, Like, I adore her. So have
Speaker 1: you ever had that conversation with your parents? Like, obviously
Speaker 1: it's such a different world, right where once you've kind
Speaker 1: of fallen into teaching and if you love it, like
Speaker 1: it becomes a career in comparison to like your parents,
Speaker 1: like finding a job and then like trying to find
Speaker 1: another job and like hopping around to different things. Like
Speaker 1: I think that's the difference between like work and a career, right,
Speaker 1: Like do you talk to your parents about that?
Speaker 4: Not? Like in so many words, but I don't know
Speaker 4: that particularly. My mum's quite happy that I'm in a
Speaker 4: stable position that I'm not having to jump from jobs,
Speaker 4: job or find avenues to make money, so that I'm
Speaker 4: basically in a position where I don't have to stress
Speaker 4: about those things totally.
Speaker 1: And I just know that she's like, she's just excited
Speaker 1: for you. She's so proud. You mentioned in your letter
Speaker 1: in that you have a husband, So tell me a
Speaker 1: little bit about his financial side, like how much money
Speaker 1: is coming in to the household from his income.
Speaker 4: So he's recently become a teacher as well, very cool,
Speaker 4: So he's put in the hard yards to the university
Speaker 4: part time so that he can have a better money
Speaker 4: story as well. And now that's kind of finally come
Speaker 4: into fruition, so it feels like we're actually getting somewhere
Speaker 4: in that regard. Unfortunately, his main problem was getting a
Speaker 4: store credit card.
Speaker 1: Yes, okay, slippery slope. Lots of us have fallen down.
Speaker 4: A very slippery slope. So a three two hundred dollars
Speaker 4: item turned into five thousand dollars of debt used on
Speaker 4: things that weren't from the store, which as we all know,
Speaker 4: is huge interest.
Speaker 1: Well, nobody gets those credit cards, being like I'd love
Speaker 1: to get into debt, Like, no one says that. When
Speaker 1: they sign up, they think, oh that's a good idea.
Speaker 4: No no, And so unfortunately that was just something that
Speaker 4: was snowballing him, and he eventually asked for help because
Speaker 4: at the time I didn't know anything about it, and
Speaker 4: so we put some plans in place to try and
Speaker 4: help him get rid of that debt. Unfortunately, each time
Speaker 4: we thought we were taking more of that debt, but
Speaker 4: he kept adding to it. So eventually we just ended
Speaker 4: up consolidating his debt into one loan that he couldn't
Speaker 4: basically take money out.
Speaker 1: Of like I feel like sometimes that's the best outcome.
Speaker 1: What was that conversation like, because I'm assuming that you
Speaker 1: were wearing the pants in that conversation and you were like, right,
Speaker 1: enough is enough? I am taking this off you. We're
Speaker 1: consolidating it, you're not touching it. How did that go?
Speaker 1: Because you did say, feel like I'm pulling my house?
Speaker 1: Been a lot for the right. Yeah.
Speaker 4: I mean, obviously our money habits are completely different. He's
Speaker 4: very much a spend what he has kind of person,
Speaker 4: and if he's got small things that he's wanting to do,
Speaker 4: he tries to save that money for it. Whether he
Speaker 4: does or not is kind of up to him. But
Speaker 4: I basically make sure that I wanted him to be
Speaker 4: involved in that process. I wanted him to understand my
Speaker 4: thoughts around it and whether that's what he actually wanted
Speaker 4: to do. And obviously he didn't want to be in debt,
Speaker 4: but he was just struggling to figure out how to
Speaker 4: get out of that. And I felt like I did
Speaker 4: more of the research and been like, well, what would
Speaker 4: actually work for him? And after those few failed attempts,
Speaker 4: I was like, right, I think consolidating is your option
Speaker 4: because it means you can't access that money, because that's
Speaker 4: obviously something that he struggles with. If he has access
Speaker 4: to it, he's going to spend it. So we made
Speaker 4: that plan together and we went into the bank together
Speaker 4: so that he was on board with the plan and
Speaker 4: knew what was happening, and that way he could see
Speaker 4: the progress as well. And now that we're finally out
Speaker 4: of that debt, I think he's seeing, especially with the
Speaker 4: pay increase on his end becoming a teacher, he's now
Speaker 4: seeing that he can actually save money and that money
Speaker 4: can be used for things positive things that he can do,
Speaker 4: so things like going camping, going on trips, spending time
Speaker 4: with family because we have a two year old and
Speaker 4: you know, that's just something we can enjoy, rather than
Speaker 4: being like, oh, we don't have money, or he hasn't
Speaker 4: got the money to spend on that, or sometimes it's
Speaker 4: very much. I'm more of an experience this person. I
Speaker 4: will spend money for experiences, but he'll go, oh, that's
Speaker 4: too much. I'm not going to spend it because he's
Speaker 4: usus spending small amounts of money rather than big amounts.
Speaker 1: If that makes sense, That totally makes sense. So what
Speaker 1: does that mean when it comes to your big money
Speaker 1: goals at the moment, what are you guys currently working towards?
Speaker 1: Because I feel like you've got that like fresh clean
Speaker 1: slate and it sounds like we're a two year old
Speaker 1: at home. You've got a lot of motivation to build right. Yes.
Speaker 4: Yes, so I've always been goal oriented. I'm always saving
Speaker 4: for something, and I like to spend big lumps of
Speaker 4: money on things because I feel more accomplished that way.
Speaker 1: It does feel pretty good, doesn't it. Like I don't
Speaker 1: know everybody different sources for different courses, right, but like
Speaker 1: when you finally achieve something and you're like, that was
Speaker 1: a solid five grand like in it. Yeah, that just
Speaker 1: feels good, doesn't it.
Speaker 4: I like spending more than two thousand dollars at a time,
Speaker 4: so whether it's a car, or a laptop or a
Speaker 4: new mattress because they're expensive.
Speaker 1: Oh my god, why are they so expensive though they
Speaker 1: are like illegal?
Speaker 4: Yes, So at the moment, like we kicked off some
Speaker 4: bigger goals, so we saved together to get married. We
Speaker 4: then also save for a deposit for our house. So
Speaker 4: we've now got a house. But our next goals is
Speaker 4: we're looking to upgrade our house because I don't know
Speaker 4: about you, but toys just seem to inundate and explode.
Speaker 1: My entire loud droom looks like the toy library. That's
Speaker 1: not how I envisioned that loud room to look. And
Speaker 1: also the house that I thought was, you know, really spacious.
Speaker 1: I mean it's not a big house by any stretch
Speaker 1: of the imagination, but pre baby me was like, nah,
Speaker 1: heaps of space. It's all of a sudden tiny.
Speaker 4: Yes, I one hundred percent feel that, And this was
Speaker 4: never going to be our like you know, growing up
Speaker 4: with kids house. But unfortunately with the COVID and that
Speaker 4: situation because we moved in during COVID and then after that,
Speaker 4: houses just went crazy. And now it's like, well, can
Speaker 4: we even afford to get a bigger place?
Speaker 1: I know, right, Like it changes the goalposts so much.
Speaker 4: Yeah, so that's one of our bigger goals. We're also
Speaker 4: wanting to get another car because one of our current
Speaker 4: cars is now seventeen years old and it's costing us
Speaker 4: a fortune whenever we go to get it serviced. So
Speaker 4: it's at the end of its life.
Speaker 1: Yeah, I know, thank you. Time to switch out. You
Speaker 1: mentioned that you saved up, and I have to ask,
Speaker 1: because I just love love, right, how did you save
Speaker 1: up for your wedding? And tell me a little bit
Speaker 1: about that.
Speaker 4: I was such a control freak, I thould tell me.
Speaker 4: I had my wedding budget on an Excel spreadsheet, just
Speaker 4: as my own budget is. I researched how much everything
Speaker 4: was going to cost, and how much we would like
Speaker 4: to spend and how much we could afford at the time.
Speaker 4: We ended up spending about twenty five thousand dollars.
Speaker 1: Hey, that's good.
Speaker 4: Yeah. I pretty much looked at our values, what were
Speaker 4: the things that we must have, what were the things
Speaker 4: that we could kick to save money, and yeah, we
Speaker 4: made those decisions together, which was lovely. I wanted him
Speaker 4: a part of it, so he went to most of
Speaker 4: the meetings and we sorted out what we wanted to
Speaker 4: do and yeah, so things like, for example, I'm not
Speaker 4: a big flower person, so I pretty much just had
Speaker 4: the bouquets and that was about it. That's so fair,
Speaker 4: And flowers are so expensive.
Speaker 1: Oh don't even I am a flower person, So you
Speaker 1: can imagine what that looked like if you were a
Speaker 1: flower person and then you also get married. It's ugly.
Speaker 1: It's not good.
Speaker 4: No, no, everything's expensive, to be honest. It's like when
Speaker 4: I got my first loan for a car, and I
Speaker 4: vowed off personal loans since then because when I calculated
Speaker 4: the numbers and how much I was actually paying for
Speaker 4: that car in the end with the interest, I was like, no,
Speaker 4: that's crazy. Vowed to pay it off early. I did.
Speaker 4: I paid it off about two years early. Oh good.
Speaker 4: And then I got charge fifty dollars for every month
Speaker 4: that was left out standing on that loan.
Speaker 1: Why are they so shady?
Speaker 4: Very shady? But I learned from that experience, and so
Speaker 4: when we were planning for a baby, I was like, well,
Speaker 4: we need a family car, something that I'm not going
Speaker 4: to hurt my back getting baby in and out totally.
Speaker 4: And so I got a bigger car and I saved
Speaker 4: up forty one thousand dollars in about a year and
Speaker 4: a half.
Speaker 1: What do you want to run this podcast? Because like,
Speaker 1: I feel like you're just really good at money.
Speaker 4: I do like saving I must have been guys.
Speaker 1: Guys. Side note, she said she was a nay. The
Speaker 1: story is checking out. The story is absolutely checking I
Speaker 1: believe her.
Speaker 4: So yeah, forty one thousand dollars. So that's probably one
Speaker 4: of my biggest accomplishments. I mean, when I was able
Speaker 4: to save essentially one thousand dollars a fortnight.
Speaker 1: That's crazy, like so cool.
Speaker 4: I was making sure that I could get that car
Speaker 4: when I needed to, and that was a brand new
Speaker 4: car because at the time, that was the time when
Speaker 4: you couldn't get a brand new car because they were
Speaker 4: like a year out on the boat and all the
Speaker 4: secondhand cars were just jacked up in price.
Speaker 1: Oh yeah, it was crazy.
Speaker 4: And I was looking at the new cars and they
Speaker 4: weren't that much more expensive. It was like a couple
Speaker 4: grand more. And I was like, I wasn't in a rush.
Speaker 4: Baby was still like a year off, and so I
Speaker 4: just ordered it and it ended up coming in early,
Speaker 4: so I had to find that money and make sure
Speaker 4: that that was saved in time.
Speaker 1: Yes, Love, talk to me about this baby planning process,
Speaker 1: because if you say, oh, the baby was like a
Speaker 1: year off, obviously that's a planned baby because you can't
Speaker 1: just have a baby in twelve months. I don't know
Speaker 1: if you guys know how pregnancy works, but that's not
Speaker 1: how long it takes. So did you guys go all right?
Speaker 1: We're going to get our ducks in a row, We're
Speaker 1: going to get the car. Then we're going to have
Speaker 1: a baby, or like, what did that planning process look like,
Speaker 1: because that's another financial nightmare.
Speaker 4: Yeah, we always wanted to have kids. The planers have kids.
Speaker 1: I mean you're both teachers now, so like this story
Speaker 1: makes a lot of sense.
Speaker 4: Yeah, we both wanted kids. I particularly wanted to be
Speaker 4: married before I had kids. It's just my personal preference.
Speaker 4: We saved for the wedding, so we figured out based
Speaker 4: on the current income and how much we could save,
Speaker 4: particularly so that we were both saving the same amount,
Speaker 4: because that was just where my head was at at
Speaker 4: that time. We both saved four the wedding, and unfortunately
Speaker 4: the wedding got postponed because of COVID. So our wedding
Speaker 4: got postponed that week because that was when they dropped
Speaker 4: it to five people can attend.
Speaker 1: I don't want to have a wedding if there's only
Speaker 1: five people attending, and I've already planned literally everything with
Speaker 1: my spreadsheet, I might just wait.
Speaker 4: Yes, so that got postponed, which is fine because all
Speaker 4: the vendors were able to make that date all what
Speaker 4: one So that was fantastic news. We then basically the
Speaker 4: wedding had already been paid for at that point, so
Speaker 4: we had an extra year. So that extra year, I
Speaker 4: was basically just saving, just saving in general. So I
Speaker 4: was saving predominantly for baby, because we knew we'd have to,
Speaker 4: you know, buy the cot and the bassinet and all
Speaker 4: the bits and pieces that cost lots of money, and
Speaker 4: they add up very quickly. So I decided to have
Speaker 4: that money aside, particularly as well for when I'm a
Speaker 4: matt leave or like if I'm going to be part time.
Speaker 4: I just wanted a buffer there so that if we
Speaker 4: needed it, we could one.
Speaker 1: And if you can plan it, like, it's just a
Speaker 1: much easier process to go through, like if you've got
Speaker 1: more of like a run up. And I mean not
Speaker 1: everyone has that grace, but you were obviously like, okay,
Speaker 1: I'm planning this to a t. Were you obviously grateful
Speaker 1: for that. Once baby did come around, You're like, oh,
Speaker 1: my goodness, what will we have done? And if we
Speaker 1: didn't plan.
Speaker 4: One hundred percent, I don't know how people do not
Speaker 4: plan to like all of a sudden be pregnant and
Speaker 4: be like, oh, now there's all this money we need
Speaker 4: to find.
Speaker 1: It would be so stressful, Like I'm very lucky that
Speaker 1: I also planned my pregnancy and all of that stuff,
Speaker 1: but like sometimes it just happens, and like that's fine,
Speaker 1: But my goodness, the amount of stress that these mums
Speaker 1: and parents would be going through being like, Okay, so
Speaker 1: we have nine months and we have nothing.
Speaker 4: Yeah, and the first is always the most expensive. So
Speaker 4: we're planning for our second now, and so thankfully, I
Speaker 4: don't think it's going to be as costly, Like we've
Speaker 4: got all the starters, you've got.
Speaker 1: All the paraphernalia. Yeah, you've already got the big car,
Speaker 1: You've got the basinet. And I mean, honestly, like to
Speaker 1: distill it down because I don't want to scare people.
Speaker 1: I think the newborns aren't too expensive, Like at the
Speaker 1: end of the day, they really don't need much. But
Speaker 1: in twenty twenty five, the Internet would have you think
Speaker 1: that you need everything under the sun for them. You
Speaker 1: need the fancy carrier, you need the fancy bascinet. If
Speaker 1: you don't have this particular item, what are you doing?
Speaker 1: And like, from my perspective, say, fore place to sleep,
Speaker 1: some type of transport, like do you need a pram?
Speaker 1: Or something, because that'll make it a lot easier on
Speaker 1: your back, and like how are you feeding and clothing
Speaker 1: the baby? And like that's where you should start. So
Speaker 1: I don't want people thinking, oh, my goodness, like you know,
Speaker 1: it's going to cost so much, but life will be
Speaker 1: a lot more comfortable if you're able to create a
Speaker 1: buffer and do a like baby budget. So I know
Speaker 1: you had a spreadsheet for this money, darist, how much
Speaker 1: do you think it cost to set up for a
Speaker 1: baby or for you? Not for everybody, but for you.
Speaker 4: Weirdly, you'd think I had a spreadsheet, but I really didn't.
Speaker 1: I love that I did know. I was like, oh,
Speaker 1: this girl is a spreadsheet queen, and I'm sure you'll
Speaker 1: agree and say I am, But like, why no baby spreadsheet?
Speaker 4: I think because I had enough money saved that I
Speaker 4: was like, this will be enough, and I was just
Speaker 4: going to chip into it. Like I had done my research.
Speaker 4: I'd looked into the prices of things. But I was
Speaker 4: also quite friggle in some regards as well. So for
Speaker 4: me looking at a pram or like a pram is,
Speaker 4: as you said, a mode of transport. It didn't have
Speaker 4: to be fancy dancy for me. Some of the prams,
Speaker 4: you know, they're like two thousand dollars, and I'm like,
Speaker 4: I'm paying for the leather and a peak few to
Speaker 4: be able to see my child. And I ended up
Speaker 4: buying a cheap PRAM and buying leather to put onto it.
Speaker 4: Oh nice, And then I can just peek out the
Speaker 4: front of my PRAM. I don't need a little pick window, certainly,
Speaker 4: not one that costs five hundred dollars.
Speaker 1: It's crazy, right, And like, don't get me wrong, because
Speaker 1: I'm probably on the other end of that, Like I
Speaker 1: love my pram, but like I just I really enjoyed it.
Speaker 1: But like it's so funny talking to other moms, They're like, yeah,
Speaker 1: I prioritize this or not that. What do you reckon?
Speaker 1: Was your bougiest baby purchase that was worth it?
Speaker 4: I honestly couldn't tell you. I don't think I really
Speaker 4: have a big bougie purchase. I mean my car is
Speaker 4: the big one because my back would have been out,
Speaker 4: Like I had a lower car, and my back has
Speaker 4: always been bad in general from my previous car accident.
Speaker 4: So just the thought of getting a baby in and
Speaker 4: out of a low car was certainly not my to
Speaker 4: do list.
Speaker 1: That's so fair.
Speaker 4: I love my change table. I know some people never
Speaker 4: use their change table. They buy a change table and
Speaker 4: never use it.
Speaker 1: See, isn't it crazy having this conversation because I'm like, oh,
Speaker 1: I love my PRAM and you're like, oh no, don't
Speaker 1: care about the PRAM change table. I'm like, we're not
Speaker 1: all changing our babies on the floor.
Speaker 4: I don't. She just wriggles more.
Speaker 1: Yeah, I feel like I have a child Ninja like
Speaker 1: he now the second is nappy's off. He's like, it's
Speaker 1: go time. We've got to leave. I've got to leave.
Speaker 1: I've got to evacuate the building in point two seconds,
Speaker 1: and then like he will do anything to weasel away
Speaker 1: from me.
Speaker 4: Yeah. I feel like at least the change table that
Speaker 4: they contained to the table, that's fair, unless they really
Speaker 4: have no fear and want to jump off it. But
Speaker 4: thankfully mine does have fear. Yeah, I think the change
Speaker 4: table like not that it was a expensive purchase. In fact,
Speaker 4: I'm one of those people. I don't like white. I'm
Speaker 4: a black girl, and so unfortunately all the change tables
Speaker 4: were white, so I ended up spray painting mine.
Speaker 1: I know, I am also a black Girl. So I
Speaker 1: have a black cot. I have black furniture in Halvey's room,
Speaker 1: black everything, Like you would have thought that it would
Speaker 1: have just come in black and white. Turns out it
Speaker 1: does not.
Speaker 4: No, it does not, and so I spray painted it.
Speaker 1: I love that.
Speaker 4: Yeah, I don't really have a big bougie purchase on
Speaker 4: behalf of my kid, to be honest.
Speaker 1: No, I love it. But it's so good that we
Speaker 1: can talk about these things and it has shown us
Speaker 1: very quickly, like everyone's values are so different. So when
Speaker 1: you're talking about baby budgets, like your budget would be
Speaker 1: significantly different to my budget, and what you're willing to
Speaker 1: spend money on is going to be different to what
Speaker 1: I would prioritize. And I think that's really fun.
Speaker 4: And weirdly and our finally recently, so I'm recently new
Speaker 4: to your podcast. So I started this year this year.
Speaker 1: Oh she's new new, welcome, thank you for joining us.
Speaker 4: And I'm one of those people that I can't read
Speaker 4: a book halfway through, so I started from the beginning.
Speaker 4: So I'm still listening to Georgia king.
Speaker 1: Oh gee king On too, gone on to her. She's
Speaker 1: still living in London. For those of you who want
Speaker 1: a little bit of a check in. She's live, love,
Speaker 1: loving life, and she's thriving. I miss her, like she's good.
Speaker 4: Huh, yeah, she's good to listen to. So I recently
Speaker 4: listened to the Baby episode about budgeting for a baby.
Speaker 4: I think someone said the stats of you know, it
Speaker 4: costs between like like there was a huge range and
Speaker 4: I completely know why.
Speaker 1: Now yeah, And do you know what, I got a
Speaker 1: lot of flak for that podcast when that one came
Speaker 1: out because people were like, oh, Victoria's wildly inaccurate, like,
Speaker 1: this is not what it costs cost me x and
Speaker 1: you know she's quoting why. And I remember being like,
Speaker 1: my goodness because I wasn't a mum when I posted that.
Speaker 1: And I remember being like, oh, I'm feeling really guilty
Speaker 1: because I put so much time, energy and effort into
Speaker 1: researching that to make sure that it was, you know,
Speaker 1: very accurate. And I was asking at the time, I
Speaker 1: was an advisor and I was asking my clients like, oh,
Speaker 1: is this right? You know how much did it? What's
Speaker 1: this snow? Like? What does that cost?
Speaker 2: You know?
Speaker 1: Do you need one? All of that stuff right? And
Speaker 1: now I look back on it that I am a mum,
Speaker 1: and I'm like, oh no, I was right, Like I
Speaker 1: get that you guys had a different experience, but like,
Speaker 1: this is just the average, This is just the statistics.
Speaker 1: This is what it costs people. And like, if you're planning,
Speaker 1: as you probably know, like, is it not better to
Speaker 1: overshoot your shot and then be happy that you have
Speaker 1: a little bit of surplus than to have not, you know,
Speaker 1: budgeted enough because having a baby is stressful enough one
Speaker 1: hundred percent. So money, darrest, I need to know. Tell
Speaker 1: me you've done the wedding, you did it well. You've
Speaker 1: bought the house, You've done that well, yes, you're planning
Speaker 1: on upgrading. Do you have any other big money goals
Speaker 1: you're currently working towards.
Speaker 4: No, really, only just replacing our old car and the house. Unfortunately,
Speaker 4: I feel like it and the baby obviously, but it
Speaker 4: feels like all of those three goals I want to
Speaker 4: do like in the next couple of years. And so
Speaker 4: it just.
Speaker 1: Feels you just want to go bang bang bang. It
Speaker 1: feels expensive, it feels like too much.
Speaker 4: It's kind of overwhelming, particularly the house, because just the
Speaker 4: way the market is, it's like, I don't even it
Speaker 4: gives me anxiety. Just think about how that's going to work.
Speaker 1: Yeah, totally. All right, let's go to a really quick
Speaker 1: break because I want to keep chatting to you. I've
Speaker 1: got a lot of questions and we'll get to them
Speaker 1: in just a minute or at money Durst. We are
Speaker 1: back and I want to talk a bit more about investing.
Speaker 1: So talk to me about your investing journey. You mentioned
Speaker 1: that you're new to our community, which I love. We've
Speaker 1: been getting some new friends in twenty twenty five. Are
Speaker 1: you on your investing journey? If not, why not? If so,
Speaker 1: what is it I am.
Speaker 4: On my investing journey. I do have about five hundred
Speaker 4: dollars in micro investing love money from this podcast. That's
Speaker 4: kind of prompted me to do that.
Speaker 1: Ah, I love this. I can't tell you how much
Speaker 1: genuine enjoy I get when people are like, oh, I
Speaker 1: listen to your podcast and now I invest I'm like, yes,
Speaker 1: this is the best.
Speaker 4: So I have that five hundred dollars in that and
Speaker 4: that's kind of my designated money for my daughter. So
Speaker 4: that's my way of being like, that's her kind of
Speaker 4: fun for when she's older, her to use however she wishes.
Speaker 4: And this podcast has also prompted me to go see
Speaker 4: a financial advisor.
Speaker 1: Love. Well, I mean, you two are earning really good
Speaker 1: money and have like your stuff together. You've got a house,
Speaker 1: You've done the wedding. You're like, I just feel like
Speaker 1: that's a good idea.
Speaker 4: Yeah, I just wanted to see if we could make
Speaker 4: Now that we've kicked off some of the bigger goals,
Speaker 4: it was like, I just wanted to see if we
Speaker 4: can make our money work for us a bit harder.
Speaker 4: So after seeing a financial advisor, I now have put
Speaker 4: about ten thousand dollars into education bonds.
Speaker 1: Oh exciting. That's a lot of money. She's really bitten
Speaker 1: it and gone, let's go.
Speaker 4: Yeah. So once I'm in there because I had that
Speaker 4: just sitting in savings at the time, and that this
Speaker 4: was only probably a couple of months ago. And now
Speaker 4: I've set up to put about twenty three hundred a
Speaker 4: month into that advessement account.
Speaker 1: I love that. Oh my goodness. I'm not gonna lie
Speaker 1: when you said I'm new to the podcast and like
Speaker 1: I've had all these other really big financial goals. I'm
Speaker 1: thinking like, she's you know, maybe only very very very
Speaker 1: early on. Girl, You're like, smashing everybody out of the water.
Speaker 1: No wonder you said, I am an a. I can
Speaker 1: see that. I love that.
Speaker 4: By dipping the toes, I mean, I've only just done
Speaker 4: it in the last couple of months. But when I go,
Speaker 4: I go hard. What do you mean dipping the toes?
Speaker 1: Like you've just gone okay, I'm so zero to five thousand,
Speaker 1: let's go.
Speaker 4: I have maybe dived in. It is a better analogy.
Speaker 1: And now I really understand the comment where you said
Speaker 1: I feel like I'm pulling my husband along for the ride. Yes, queen,
Speaker 1: you are, like you get on, we're going.
Speaker 4: I dragged into the financial Advisor's like I don't know
Speaker 4: why we were doing this, but you know, sure, I'm
Speaker 4: in for the ride, and he's like, yeah, everything makes sense,
Speaker 4: let's do it. And I'm like, cool, I'm so excited.
Speaker 1: And you know what, It's nice that he understands it
Speaker 1: but also gets that, like you're clearly excited about this,
Speaker 1: So he's like supportive of you, but also clearly respects you, know,
Speaker 1: your advice, because he let you get him out of
Speaker 1: debt and go through all of that together. Like I'm
Speaker 1: assuming you have a pretty strong relationship because that's what
Speaker 1: I'm picking.
Speaker 4: Up there, we do. I think he sees the light
Speaker 4: at the end of the tunnel now that we are
Speaker 4: out of debt and he can finally save his money
Speaker 4: for things that he actually is generally passionate about. So
Speaker 4: he loves his footy and now he's actually able to
Speaker 4: go to footy games quite frequently, partly because of his
Speaker 4: change of work as well, because he used to work
Speaker 4: night shifts made it hard. So you know, his change
Speaker 4: of job as well as his financial side of things,
Speaker 4: has meant that he's able to actually have some money
Speaker 4: spared to do the things that he actually loves and enjoys,
Speaker 4: rather than feeling like he's just making do with the
Speaker 4: money he's got.
Speaker 1: Yeah, I love that, And that's I guess what financial
Speaker 1: freedom allows you to have. I think a lot of
Speaker 1: people just assume that financial freedom means you're like working
Speaker 1: towards having millions and millions, and like, don't get me wrong,
Speaker 1: that is true for some people, but just the idea
Speaker 1: that your lifestyle involves enjoying the journey, going to some
Speaker 1: footy games, enjoying like the life that you have, getting
Speaker 1: to spend more time with your two year old, Like
Speaker 1: that's exactly what it's about, or that's what it's about
Speaker 1: for me, pervy Before I moved back on to money questions,
Speaker 1: how did you guys meet.
Speaker 4: We actually went high school together.
Speaker 1: Oh, that's so cute.
Speaker 4: We got together after high school though, Yeah.
Speaker 1: That's okay. Like I wouldn't have dated my husband if
Speaker 1: I met him in high school.
Speaker 4: So funnily enough, he was the person in high school,
Speaker 4: the cocky guy that would go yeah, and about five
Speaker 4: years time, I'm gonna be with you, and yeah, that's
Speaker 4: what happened.
Speaker 1: Oh the audacity. But also, sir, you were not wrong.
Speaker 4: No, he was not wrong.
Speaker 1: Oh my god, he wasn't. Did he actually go, oh,
Speaker 1: we're going to get together. I'll end up marrying you?
Speaker 4: Yeah, in front of my current boyfriend at the time.
Speaker 4: It was a bit weird.
Speaker 1: I mean, was he rong?
Speaker 2: No?
Speaker 4: Who wasn't wrong? In the end.
Speaker 1: That is so funny. It's like when I talked to
Speaker 1: friends and like even on the podcast about Steven my
Speaker 1: first day. On my first day, he's like, so, what
Speaker 1: do you reckon our wedding song will be? And I
Speaker 1: remember being like that should be a red flag, like
Speaker 1: that should like for anybody else listening to this conversation.
Speaker 1: That should have been a really big red flag, but
Speaker 1: I just saw it and thought why not.
Speaker 4: It's amazing how something seem like red flags to some
Speaker 4: people but not to others.
Speaker 1: Yeah. No, like for anybody else, I would have been like, babe,
Speaker 1: that's a lot like are you sure you want to
Speaker 1: go on a second date with this guy? And I did,
Speaker 1: in fact end up marrying him. So anyway took me
Speaker 1: through debt. Let's move back to that. You have a
Speaker 1: mortgage and you're out of personal debt. Is that right?
Speaker 1: So tell me a bit more about your mortgage.
Speaker 4: So, our mortgage is currently sitting at three hundred and
Speaker 4: forty thousand, and our house was originally like four hundred thousand,
Speaker 4: and now it's up in value to like seven hundred
Speaker 4: and twenty thousand or something ridiculous at the moment, what.
Speaker 1: So you purchased for four hundred and it's like worth
Speaker 1: seven twenty now.
Speaker 4: Yeah, it's like I said, the market's gone crazy.
Speaker 1: Yeah, but that also makes a lot of sense as
Speaker 1: to why you're like, Okay, cool, we have this house
Speaker 1: and to move house obviously into a bigger one, you're
Speaker 1: probably looking at like a minimum of eight hundred thousand
Speaker 1: dollars if not more because of how much. And I'm
Speaker 1: assuming there you're in and you're like, wait, hold on,
Speaker 1: I didn't want like eight or nine hundred thousand dollars
Speaker 1: worth of debt, like we started at four hundred. I
Speaker 1: thought that was fair. So what do you think that
Speaker 1: process is going to look like for you? Because that
Speaker 1: is quite stressful, like to go from one to the other.
Speaker 4: It is. I really don't know what the answer is
Speaker 4: because like when I think of, you know, if we build,
Speaker 4: then I don't know what the options are in terms
Speaker 4: of building, because obviously we would prefer to have this
Speaker 4: place and rent it out if we can afford to
Speaker 4: do that. But then obviously if we build, then we're
Speaker 4: having to pay for both mortgages as it's going, which
Speaker 4: is a lot of money.
Speaker 1: Well, yes and no, So I need you to talk
Speaker 1: to a mortgage broker. You can either come and see
Speaker 1: my team at Zella Money, or your financial advisor will
Speaker 1: probably have a really good recommendation of someone that they recommend.
Speaker 1: But when it comes to building, you can actually stage
Speaker 1: your mortgage so you can continue to live in your
Speaker 1: current house and you might not pay for your mortgage
Speaker 1: repayments until like settlement or when keys get handed over.
Speaker 1: There's like lots of different options. There's also like you know,
Speaker 1: if you were to sell and read buy, like there's
Speaker 1: so many different options. What I would do is literally
Speaker 1: talk to a financial advisor about what rental yield so
Speaker 1: you've got one, but what your rental yield on that
Speaker 1: current property would look like. You can even just do
Speaker 1: it yourself, honestly, like go on to real estate dot
Speaker 1: com dot au and look in your local region. Like
Speaker 1: I would just put the map pin down and be like, yeah,
Speaker 1: just show me current like location and look at what
Speaker 1: options on the table for renting in your current area
Speaker 1: to get an idea of what that rental repayment would be,
Speaker 1: and then you can go for an EBB. But I
Speaker 1: would talk to a mortgage broker sooner rather than later,
Speaker 1: because that doesn't mean that you'll have to pay two
Speaker 1: outright mortgages at the same time, because the banks actually
Speaker 1: know that that's not that feasible.
Speaker 4: Yeah. Yeah, I thought there might be options. I just
Speaker 4: hadn't looked into them yet.
Speaker 1: Yeah, haven't explored it, but they exist, I promise you.
Speaker 4: The other option is obviously buying established and then that
Speaker 4: has also other fees involved stamp duty, et cetera. That
Speaker 4: is it a lot of money when it's an eight
Speaker 4: hundred thousand dollar house, or if not more.
Speaker 1: One hundred percent, it starts to like literally consume it.
Speaker 1: You're like, hold on, if we get close to a million,
Speaker 1: we're talking like at least fifty thousand dollars in stamp Dudy,
Speaker 1: that's a lot of money to feel like you're just
Speaker 1: flushing down the toilet, and like, don't get me wrong,
Speaker 1: it can be like, you know, absorbed into the cost.
Speaker 1: But then it makes you really think about it. I
Speaker 1: love that. So we're not in any other debt. We
Speaker 1: just have three hundred and forty thousand dollars owing on
Speaker 1: your mortgage.
Speaker 4: That is it. I've paid off my hex deet. My
Speaker 4: partner still has his, but he and they just finished,
Speaker 4: so that makes sense.
Speaker 1: Story checks out still, Yeah, yeah.
Speaker 4: So yeah, I've worked pretty hard to get out of debt,
Speaker 4: especially after my car loan. I can tell that was
Speaker 4: an eye opener for me when I realized how much
Speaker 4: interest it actually was because I didn't really know anything
Speaker 4: about loans. I'd never had a loan, never really looked
Speaker 4: into loans. We were just walking through a car yard
Speaker 4: and I'm like, oh, I like this car, let's get it.
Speaker 4: And they pull me into the one of those little
Speaker 4: offices and go through finance and all that, and I'm
Speaker 4: just this little girl going yeah.
Speaker 1: Sure, And it made sense at the time. Yeah. They
Speaker 1: would have been like, oh, it's just this much per week.
Speaker 1: Can you be like, oh, I can totally do that,
Speaker 1: no worries, Like so easy. But it wasn't that easy
Speaker 1: because they stung you on the interest and then you
Speaker 1: felt like you've been screwed over and that's not fun
Speaker 1: for anybody. No.
Speaker 4: Well, I mean I could afford the repayments that that
Speaker 4: wasn't the issue. It was more of that. I was
Speaker 4: angry with myself that I could have spent two years
Speaker 4: saved up for this car and paid it out right,
Speaker 4: but I didn't do that. I got the loan because
Speaker 4: it was just the easy way.
Speaker 1: But you've learned now, and I think that was an
Speaker 1: important learning piece in your journey, right, because if you
Speaker 1: hadn't experienced that, I don't think you'd be as passionate
Speaker 1: about staying out of debt, or as aggressive about saving
Speaker 1: or whatnot. I think you've done something good for future you.
Speaker 4: Yeah, for sure. I think it was the kick up
Speaker 4: the butt of you know, loans are bad in saying
Speaker 4: that I didn't stay away from them more completely. I
Speaker 4: had a credit card, I had a store credit card,
Speaker 4: but I just used them really wisely because I am
Speaker 4: very good at my money. So when I did the
Speaker 4: store credit card and bought furniture for our house, very
Speaker 4: much like I'm not paying the minimum, I am working
Speaker 4: out exactly how much I need to pay before the
Speaker 4: interest free period ends to pay that off. And so
Speaker 4: I did that, and I'd done it multiple times, so
Speaker 4: that was fine. And then with my credit card, I
Speaker 4: made sure it was only a thousand dollars nothing more
Speaker 4: than that. And like I said before, I had at
Speaker 4: least a thousand dollars in savings per fortnite, So I
Speaker 4: just paid off my credit card each time I got paid.
Speaker 4: And I never even saw a statement for that card.
Speaker 1: Oh how good.
Speaker 4: The only reason I got it was for accommodation overseas,
Speaker 4: because they.
Speaker 1: Oh isn't that the most annoying thing? Ever? I mean,
Speaker 1: it does make you feel more secure because you're like, okay, cool,
Speaker 1: they can't get to my life savings and whatnot. But
Speaker 1: like for someone like me, like I just know that
Speaker 1: me having access to a credit card is not a
Speaker 1: good thing. Like I can be really honest about that.
Speaker 1: It doesn't work for you. Clearly you made it work,
Speaker 1: and I just wish I was a little bit more
Speaker 1: like you. But I just I can't be trusted.
Speaker 4: Yeah, I know my parents had a credit card and
Speaker 4: it did nothing but bad things for them. So I
Speaker 4: was always like, oh, I shouldn't get a credit card.
Speaker 4: But then I was like, yeah, I'm really good with
Speaker 4: my money and I can be strict on myself with
Speaker 4: my money, and so I knew that the credit could
Speaker 4: would be fine for me, and it was actually a
Speaker 4: really good cash flow kind of system for joint spendings
Speaker 4: with my partner. We've recently basically I've finally jumped into
Speaker 4: now that we're debt free, I'm happy to consolidate our money.
Speaker 4: So we are now officially everything is joint.
Speaker 1: Oh I love that. But you were like, I am
Speaker 1: not doing this while you were in debt, sir, Absolutely not.
Speaker 4: Well no, before it was like, well you're in debt.
Speaker 4: I don't like being in debt. And so the fact
Speaker 4: that if we joined our money that's my debt, and
Speaker 4: that just didn't sit well with me. And then I
Speaker 4: also earn quite a bit of money, and so I
Speaker 4: liked holding on to that fact that you know, I
Speaker 4: worked hard for this money and this is my money.
Speaker 4: But I'm also not in denial. We're married. My money's
Speaker 4: his money, his money's my money. And so when he
Speaker 4: got out of debt, it was like, well, now we
Speaker 4: can make that leap and that jump to combine all
Speaker 4: our money, especially now that we've got my daughter.
Speaker 1: It does change it.
Speaker 4: It makes it more sense to combine our money. So
Speaker 4: did that, and so now we have our own new system.
Speaker 4: But I'm finding cash flows a bit harder now that
Speaker 4: I got rid of the credit card.
Speaker 1: Yep, totally.
Speaker 4: So now I'm just looking at tweaking our structure, like
Speaker 4: our bank account structure, so that I can.
Speaker 1: I can do that for you. I will give to
Speaker 1: you our budget and Cashlow master Class that I've recently
Speaker 1: renamed to the Money master Class actually, and it basically
Speaker 1: has a couple's like spending spreadsheet and do you have
Speaker 1: an offset on your mortgage?
Speaker 4: All of my accounts are offset. I was one of
Speaker 4: those people that had, like, I think the bank was like, oh,
Speaker 4: you have thirteen accounts and they're all offset accounts because
Speaker 4: my bank good.
Speaker 1: I want every single dollar that comes into my bank
Speaker 1: account to be working as hard as I do for it,
Speaker 1: So that makes sense, sir.
Speaker 4: Yeah, Well, my bank told me they allow up to
Speaker 4: ninety nine, and I'm like, who has ninety nine offset accounts?
Speaker 1: I don't know, but I'd love to meet them. If
Speaker 1: you have ninety nine offset accounts, please come on my podcast.
Speaker 1: I we'd love to talk to you about what the
Speaker 1: hell you're doing with ninety nine accounts.
Speaker 4: Yeah, it was crazy, but I basically had Originally I
Speaker 4: had accounts for me, I had accounts for him, and
Speaker 4: I had accounts that were joined, and so now we've
Speaker 4: kind of combined those. So we have a bill's account
Speaker 4: with all our necessary items that we need to spend.
Speaker 4: We have our we call them upket buckets, which is
Speaker 4: our spendings that we each don't have access to, so
Speaker 4: that you know it's completely guilt free. That's your money.
Speaker 4: If you want to save it for something special, go ahead.
Speaker 4: If you want to spend it, that's your issue. And
Speaker 4: then we have an account for investments, so for the
Speaker 4: education bond to come out of and then I've got
Speaker 4: a few accounts for basically our savings goals.
Speaker 1: Yeah, love love all right, Well, I'm still going to
Speaker 1: give you the money master Class because I think it'll
Speaker 1: take that to the next level. But it does make
Speaker 1: use of making sure that if you have a mortgage,
Speaker 1: you're using your offset accounts to your advantage and like
Speaker 1: cash flowing it that way, because like obviously it would
Speaker 1: make sense if you don't have like an offset for
Speaker 1: like people who are listening, it still works and there's
Speaker 1: just a different strategy around it. But it like order
Speaker 1: meets it for you. And I think as a self
Speaker 1: confessed like spreadsheet girl, you're going to love this because
Speaker 1: like you just put everything in and auto meets it
Speaker 1: for you. It says, okay, well, in this account, this
Speaker 1: amount of money will happen, and in this account, this
Speaker 1: amount of money will happen. It honestly, I don't know
Speaker 1: if you can tell. I'm just really proud of it.
Speaker 4: I look forward to seeing it.
Speaker 1: It's very pretty as well, she's very peachy. I don't
Speaker 1: know if your partner will love the peachiness. But like again,
Speaker 1: here's along for the ride. Sit down, sir, let me
Speaker 1: show you money diarist. You said, I'm an a. I
Speaker 1: need to know what do you think your best money
Speaker 1: habit is.
Speaker 4: My best money habit is that I am very good
Speaker 4: with my money. I like to budget and nowhere all
Speaker 4: my money is going. So you know, my spreadsheet has
Speaker 4: everything accounted for, at least everything that I've come across,
Speaker 4: and I review that constantly. Every time something goes up,
Speaker 4: I go in and I change it and I play
Speaker 4: with things and be like, oh, cost of living's gone up,
Speaker 4: we might need more money for food, petro all that
Speaker 4: kind of thing.
Speaker 1: So isn't that annoying? Though You're like, I'm not even
Speaker 1: tweaking it to save more. I'm tweaking it because like
Speaker 1: groscerias are more expense.
Speaker 4: Yeah, pretty much. And then it's things like now that
Speaker 4: I've got a daughter's like, oh now we've got to
Speaker 4: think about Mother's Day gifts and Father's Day gifts that
Speaker 4: I didn't even think to put in the budget because
Speaker 4: I'm like, yeah, I've got my mum and dad, but
Speaker 4: I didn't think about us and the fact that we
Speaker 4: buy our own gifts.
Speaker 1: We actually do do that.
Speaker 4: Yeah, So yeah, I guess it's just the being able
Speaker 4: to know where all my money is going and budget clearly.
Speaker 4: But also I'm very good at like setting goals and
Speaker 4: planning those goals. So when I planned a trip to
Speaker 4: Japan for a month, I knew how much that was
Speaker 4: going to cost me. It's going to cost me about
Speaker 4: ten grand and I worked hard for that, and I
Speaker 4: had a graph that I had printed out and shoved
Speaker 4: on my mirror. And if that graft every month, I
Speaker 4: love that so much.
Speaker 1: You are my people. I'm so glad you found our podcast.
Speaker 1: By the way, you are in the right place.
Speaker 4: Yeah, so I just needed that visual enough, so I
Speaker 4: had a digital version of it, because I'm that kind
Speaker 4: of person.
Speaker 1: Of course you did. I love this like you are
Speaker 1: my people. Welcome home, by the way.
Speaker 4: Thank you lovely to be here.
Speaker 1: So tell me you're in a but like, what do
Speaker 1: you think your worst money habit is.
Speaker 4: I'm a bit of a hoverer.
Speaker 1: A hoverer. I don't think I've had a hoverra on
Speaker 1: the podcast before Hora.
Speaker 4: So I guess my partner would say that I'm constantly
Speaker 4: watching what he's doing, particularly before we've joined our monies.
Speaker 4: So it was very much like he would ask for
Speaker 4: money for me to transfer him so that he didn't
Speaker 4: have access to all his money because he would spend
Speaker 4: all his money. So he asked me to do that,
Speaker 4: and we tried a fortnightly allowance, but he'd spend it
Speaker 4: all in a day or two, same with a week.
Speaker 4: So what worked with us We just he asked me
Speaker 4: for money and I send it to him and that
Speaker 4: limits how much he spent.
Speaker 1: Hey, you've got to find a way to make it work.
Speaker 1: And if you guys are happy with that manual process,
Speaker 1: then I'm happy for you.
Speaker 4: Yep. I mean I could do without the constant transferring money,
Speaker 4: so I'm happy now that we've got the combined finances.
Speaker 1: You're like, this is actually really annoying. I'm glad it's
Speaker 1: working for you, sir.
Speaker 4: Yes, it got a bit much in the end, So
Speaker 4: I think combining on money's really helped. And I think
Speaker 4: it's also putting more onus on him to learn how
Speaker 4: to save his own spending's money, so if he wants
Speaker 4: to go away and do stuff or go to the footy,
Speaker 4: he can save his own money to do that.
Speaker 1: You've got to tell me more about what a hova is.
Speaker 1: So you're watching him, you're tracking all of the expenses.
Speaker 1: Obviously that has like worked out for him, But why
Speaker 1: is it a negative?
Speaker 4: It's a negative because while it's helped him money wise,
Speaker 4: it has put a little bit of a strain on
Speaker 4: the relationship because it's obviously he'll be like, oh, I
Speaker 4: need sixty dollars, and I'll be like, well, what do
Speaker 4: you need that for? And then if it's not something
Speaker 4: I particularly like, then I might question that, and so
Speaker 4: then it's it becomes this he thinks I'm watching his
Speaker 4: every transaction, which in reality I wasn't. Occasionally I would
Speaker 4: see it and ask a question.
Speaker 1: Yeah, I didn't actually care that much, but if you're
Speaker 1: asking me so consistently for cash, like me going what'sapp for?
Speaker 1: Kind of makes sense. But I can see how he
Speaker 1: would then go, oh, I feel like I'm being tracked. Yeah,
Speaker 1: because that's the system you chose.
Speaker 4: Yeah, I didn't want that system initially. It was just
Speaker 4: the system that worked for him at the time. And
Speaker 4: now that system has changed and it seems to be
Speaker 4: working well. So that's you know, off my back, which
Speaker 4: is good. I can basically automate all my transfers and
Speaker 4: I don't even have to transfer money very often.
Speaker 1: Oh, how good. So she's a bit of a hover.
Speaker 1: Now talk to me. You said, I'm a A. Why
Speaker 1: not a plus? Like, what would it take for you
Speaker 1: to go from an A to an A plus? Because
Speaker 1: I feel like you're nailing it for me.
Speaker 4: It's just like I want to understand the investment world deeper.
Speaker 4: Like you know, I've put money into microinvesting, I've got
Speaker 4: money into education bonds, but I feel like I don't
Speaker 4: fully understand them, if that makes sense. Yeah.
Speaker 1: I feel like it's going to take time in the market,
Speaker 1: so like over the next few years. Like you can't
Speaker 1: just read a full textbook and be like fully get it.
Speaker 1: I feel like you have to experience it to think go,
Speaker 1: oh yeah, totally, I understand it now.
Speaker 4: Yeah, so I think that's just something that will come
Speaker 4: with time.
Speaker 1: Oh how good. Like to get an A plus you
Speaker 1: don't even have to change anything, you just have to
Speaker 1: wait a little while. That's a good deal. Oh my goodness.
Speaker 1: I have loved this. I've loved getting to know about you,
Speaker 1: about how you planned for your wedding, how you met
Speaker 1: your husband, how you had a baby, how you budgeted
Speaker 1: for it. Like I feel like I've gone through a
Speaker 1: lot in the past while with you, and I'm very
Speaker 1: grateful for it. But unfortunately you and I are running
Speaker 1: out of time. So I really appreciate the time you
Speaker 1: spent with us because I just know that people are
Speaker 1: going to be listening going, Oh Kurby, what next? Oh
Speaker 1: I get to know how she met her husband? Oh
Speaker 1: what about that? Like this was just such a good
Speaker 1: money story. So thank you so much for sharing that.
Speaker 1: And I'm just going to hook you up with the
Speaker 1: Money Masterclass after this, and I feel like everyone's going
Speaker 1: to be better for it. Thank you, of course, thank
Speaker 1: you so much for coming on the show. I have
Speaker 1: adored it.
Speaker 4: Have a good day.
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