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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr

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Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before

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Speaker 1: we get started on She's on the Money podcast, I

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Speaker 1: would like to acknowledge the traditional custodians of the land

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Speaker 1: of which this podcast is recorded on a wondery country,

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Speaker 1: acknowledging the elders, the ancestors and the next.

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Speaker 2: Generation coming through.

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Speaker 1: As this podcast is about connecting, empowering, knowledge sharing and

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

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Speaker 1: and lasting impact for tomorrow.

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Speaker 2: Let's get into it.

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Speaker 3: She's on the Money, She's on the Money.

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Speaker 2: Hello, and welcome to She's on the Mune, the podcast

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Speaker 2: for millennials who want financial freedom. Welcome back to another

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Speaker 2: one of our money diaries, where I get the absolute

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Speaker 2: pleasure of sitting down with one of my friends from

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Speaker 2: the community and talking all about their money story. Before

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Speaker 2: I read out the letter I got this week, I

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Speaker 2: just wanted to give you guys a little bit of

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Speaker 2: a content warning. We are discussing inheritance today, which can

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Speaker 2: be a little bit of a tricky topic for some.

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Speaker 4: This is a.

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Speaker 2: Beautiful money diary talking about a positive experience with inheritance

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Speaker 2: and how the money has been used to help them thrive.

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Speaker 2: But if it's not a conversation for you today or

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Speaker 2: for you at this point in time, we have so

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Speaker 2: many other episodes you could dive right into now. So

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Speaker 2: thanks for coming and we will see you next time.

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Speaker 2: For those of you sticking around, here is the letter

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Speaker 2: I got Hi Victoria. Earlier this year, I lost my

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Speaker 2: nana and my mum within a couple of months of

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Speaker 2: each other. Since then, I've come into some money. I

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Speaker 2: managed to purchase an apartment to live in. Since the

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Speaker 2: passing of my mum, I've had to restructure a lot

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Speaker 2: of my life, my future, and my finances. In a heartbeat,

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Speaker 2: I would trade my apartment and the money I received

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Speaker 2: to have my mum back. And I think grief and

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Speaker 2: money is a discussion not often had money. Diarist. I

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Speaker 2: could not agree with you more. Kick you while you're

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Speaker 2: down your mum and your nana like so close together,

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Speaker 2: Like I'm sorry, that's actually quite rude, isn't it.

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Speaker 4: Yeah, but you know life and the opposite of life

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Speaker 4: happens to all of us.

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Speaker 2: Yeah, yeah, exactly, But that's just bullshit, Like you don't

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Speaker 2: deserve to lose one, let alone both at once. Anyway,

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Speaker 2: that's really really awful. I'm so sorry for your loss,

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Speaker 2: But I think talking about it is also something that,

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Speaker 2: as you said in your letter, I think grief and

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Speaker 2: money is not a discussion often had. But also just

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Speaker 2: like the burden of all of that, it's not just oh,

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Speaker 2: you lost your mum and your nana, it's also like

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Speaker 2: the admin, the life admin, everything that is then put

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Speaker 2: on your shoulders. Can you tell me a little bit

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Speaker 2: about that before we get into I guess how more

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Speaker 2: structured questions.

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Speaker 4: Yeah, yeah, of course I thought I would write in

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Speaker 4: after I noticed a couple of the episodes, you know,

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Speaker 4: you were talking about inheritances, and obviously you have a

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Speaker 4: lot of experience with this and you're very familiar, you know,

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Speaker 4: with walking people through it. And we're already emotional about

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Speaker 4: money and finances, and then you know, you add grief

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Speaker 4: on top of it and it becomes, you know, significantly

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Speaker 4: more complex. It's everything tied into it all. So for me,

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Speaker 4: you know, I think we've spoken about this. I just

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Speaker 4: wanted to honor my mum and my nana. I am,

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Speaker 4: in some regards very lucky. I know, that sounds weird

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Speaker 4: to be starting off this conversation with that. Essentially, obviously,

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Speaker 4: my dad was the inheritor of everything because it was

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Speaker 4: his mother and his wife, so it all kind of

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Speaker 4: came to him, and he wanted to help my sister

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Speaker 4: and I out, and he gave us access to a

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Speaker 4: portion of money earlier, knowing that I wanted to buy

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Speaker 4: a house, you know, my sister and her partner as well,

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Speaker 4: and things like that. So I don't know, it's like

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Speaker 4: a whole thing, like you're grieving somebody who you love

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Speaker 4: so dearly. My mum was only fifty eight years so

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Speaker 4: really young. It was quite starting in the end, and

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Speaker 4: you're going through all of this and then you have

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Speaker 4: to go through a crap down a paperwork.

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Speaker 2: And make shitty decisions about death that no one wants

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Speaker 2: to have to make.

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Speaker 4: Yeah, something that like I didn't even realize about until

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Speaker 4: obviously these last few months, my dad had to go

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Speaker 4: in and file a tax return on behalf of my mother. Yeah,

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Speaker 4: you do, right, Like, and you don't even think about

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Speaker 4: those things.

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Speaker 2: Just the shit things that you have to do, Like

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Speaker 2: it's it's tremendous, Like there's not one good thing about.

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Speaker 4: That yeah, exactly, even things I like. Obviously, because you know,

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Speaker 4: I'm a direct descendant of my mom, I could ask

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Speaker 4: for a portion of that inheritance. But I've got a

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Speaker 4: really good relationship with my dad and wanted him, you know,

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Speaker 4: to have the money to make his own decisions with that. Yes,

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Speaker 4: of course. But I was going in whilst grieving and

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Speaker 4: signing documents saying, you know, I don't know the exact

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Speaker 4: amount of my mom's superannuation account, but I'm signing all

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Speaker 4: of this over to my dad, and I'm fully cognizant

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Speaker 4: of that, and I'm happy to do it. And I

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Speaker 4: was just thinking to myself, my goodness, I'm lucky. I

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Speaker 4: am so lucky that I have such a good relationship

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Speaker 4: with my dad, with my sister, and that I'm also

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Speaker 4: financially informed and I know the kind of decisions that

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Speaker 4: I'm making. And there are some people out there, you know,

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Speaker 4: we were having discussions prior to my mum getting put

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Speaker 4: into palliative care. A nurse comes and meets with you

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Speaker 4: and they go through like a list of questions and

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Speaker 4: they ask you things like do you own this house?

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Speaker 4: Are you on any form of support or financial assistance?

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Speaker 4: Are you working, are you able to take leave? And

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Speaker 4: there are some people who will be answering you know,

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Speaker 4: I rent, No, I don't own this house. Yes, I

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Speaker 4: am on support. No, I do not work currently, and

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Speaker 4: you know all of these things. And again I was

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Speaker 4: just thinking, my goodness, I am lucky to be able

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Speaker 4: to mostly focus on my grief and not deal with

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Speaker 4: all of these other things as well. So yeah, wow,

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Speaker 4: it was a very eye opening experience.

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Speaker 2: So your mum was sick and then she passed away

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Speaker 2: at fifty eight years young. Tell me a little bit more.

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Speaker 2: I guess about the estate planning process for that? Did

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Speaker 2: she have a will in place? Had she discussed these

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Speaker 2: things with you? I know some families do Some families

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Speaker 2: completely like bury their heads in the sand and don't

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Speaker 2: want to have conversations about that because obviously it's overwhelming, Like,

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Speaker 2: it's not very sexy, it's not nice conversation to be having,

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Speaker 2: especially when you want to be I guess, savoring every

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Speaker 2: moment that you can get together.

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Speaker 4: What was that like? So luckily my parents had had

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Speaker 4: a lot of these conversations when everybody was well, which

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Speaker 4: you know is so important, right to have these conversations

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Speaker 4: before the concept of death has even entered into your life,

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Speaker 4: so I knew that there was a will already. And look,

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Speaker 4: my parents have been together since they were nineteen years old.

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Speaker 2: Oh so cute.

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Speaker 4: Yeah, yep, they were set up by my mom's brother.

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Speaker 2: No, they were that's so wholesome.

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Speaker 4: Very wholesome. So they were together for a very very

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Speaker 4: long time, over half of their lives. So they split

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Speaker 4: everything like everything was shited. The only thing separate was

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Speaker 4: my mum's superannuation account and some shares in terms of

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Speaker 4: the actual estate itself. That was quite straightforward because you know,

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Speaker 4: there was no hidden secret relationships or secret children.

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Speaker 2: Oh thank god. Like honestly, as a financial advisor, I

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Speaker 2: have seen it all. I have seen the secret children

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Speaker 2: come out of the woodwork. I have seen this secret

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Speaker 2: partner that lives in a different state and they thought

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Speaker 2: that their husband actually was traveling back and forth for work,

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Speaker 2: but they weren't. They were maintaining two different lives of

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Speaker 2: my ex clients. If you're listening to this right now

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Speaker 2: and you want to share that story publicly, you just

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Speaker 2: slide straight into my DMS and I'll get you on

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Speaker 2: the show.

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Speaker 4: Just let us know I will be listening to that episode.

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Speaker 2: Yeah, I'm not right, like I need all the juicy details,

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Speaker 2: but I'm obviously not going to share it without their permission.

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Speaker 2: But it's interesting how messy it can get. And I'm

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Speaker 2: very very grateful that you didn't have that experience.

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Speaker 4: No, I've been raised by two incredibly pragmatic people, and

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Speaker 4: they always had their house in order and were step

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Speaker 4: free at this point.

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Speaker 2: Oh, very nice, get it mom and dad by fifty eight.

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Speaker 4: Yeah, so very together. Yeah, really planned it, and yeah,

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Speaker 4: they always lived within their means. So again, like this

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Speaker 4: is a very good kind of like financial situation to

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Speaker 4: be in for them. So obviously in terms of like

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Speaker 4: the finances in the estate, that was just a matter

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Speaker 4: of paperwork. But the other side of it is acknowledging

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Speaker 4: and knowing day you are passing away, Yeah, and that

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Speaker 4: you loved when he's passing away. So when somebody is

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Speaker 4: sick for a while, coming to that realization can really hurt.

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Speaker 4: And there are some things that you have to do

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Speaker 4: sort of in those final moments, like putting in insurance

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Speaker 4: claims and saying that you have a terminal illness. And

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Speaker 4: that is the bit that I think my mum struggled

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Speaker 4: with the most because it's admitting defeat. And that was

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Speaker 4: probably the hardest part in terms of your initial question

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Speaker 4: of the estate planning. There was a rush to get

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Speaker 4: all of this paperwork through.

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Speaker 2: Yeah, all of your doug's in a row.

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Speaker 4: Yeah, because we had so much hope and we were

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Speaker 4: so just focused on like, it's okay, we can do

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Speaker 4: this and it'll be fine, and then very quickly it wasn't.

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Speaker 4: And so yeah, getting all of that was tricky in

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Speaker 4: the end, But the rest of it, Yeah, I'm very

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Speaker 4: grateful to have been raised by two parents who had

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Speaker 4: their heads screwed on.

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Speaker 2: Yeah, I can tell. But also I can just tell

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Speaker 2: that they were just like wholesome human beings. Oh your

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Speaker 2: mum sounds like a legend, But talk to me. I

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Speaker 2: guess a bit more about this admitting defeat vibe, because

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Speaker 2: that's really shitty. I have had to work with clients

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Speaker 2: who are dying and we have had to go through

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Speaker 2: those things, and a lot of the time I'm like, look,

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Speaker 2: we have to go through this. Obviously, this is what

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Speaker 2: medicine says. But wouldn't it be cool if I could

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Speaker 2: call them and say, ha ha, let's withdraw that. We

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Speaker 2: don't need it.

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Speaker 4: Anymore.

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Speaker 2: How did you have those conversations with your mum? Obviously

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Speaker 2: admitting defeat at the end. It's just really shitty, Like

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Speaker 2: there's no other way to put it. Like, I don't

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Speaker 2: want to romanticize it and be like, oh, some Mira

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Speaker 2: cool could happen, because it doesn't help to do that.

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Speaker 2: What would you say to somebody going through the same

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Speaker 2: process that you have just been through to make it

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Speaker 2: a little bit easier.

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Speaker 4: Well, the diagnosis was never curable, so we knew it

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Speaker 4: was just a matter of trying to extend life as

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Speaker 4: much as possible. So since that initial diagnosis, which was

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Speaker 4: about two years prior, I'd made a point of always,

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Speaker 4: you know, finishing every conversation with I love you, and

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Speaker 4: I moved back home, you know, everything just became significantly

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Speaker 4: more intentional. And I had those conversations with my mum

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Speaker 4: when she was well and happy and feeling positive about

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Speaker 4: you know how she has no regrets. To be able

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Speaker 4: to have that conversation is amazing. So many people get

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Speaker 4: a diagnosis of you know, this is it, and they

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Speaker 4: have so many people that they need to call, people

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Speaker 4: that they need to apologize to things that they worry about.

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Speaker 4: Whereas that wasn't the case with my mum. She'd done

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Speaker 4: everything right.

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Speaker 2: Oh, Mom, of course she did.

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Speaker 4: Yeah, she just knew that she could go in grace. However,

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Speaker 4: because she was so well for the majority of their time,

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Speaker 4: the end was very quick. Yeah, I suppose I want

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Speaker 4: to say to people, movies do sensationalize a lot of

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Speaker 4: this stuff, and so does literature and all of these things.

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Speaker 4: And you know, those conversations, those final goodbyes, it's not

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Speaker 4: always like that. Don't think that you're meant to, you know,

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Speaker 4: have this big final moment with somebody, because somebody's final

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Speaker 4: moment isn't the entirety of their life. You know, you've

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Speaker 4: got too many good memories leading up to it. So yeah,

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Speaker 4: I suppose that's what I would say about that.

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Speaker 2: It's really sweet. I really like that. I think it's

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Speaker 2: so important to share more conversation about this more regularly

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Speaker 2: as well, because there is a very complicated relationship between

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Speaker 2: grief and money. And one thing I do want to

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Speaker 2: ask before we get back on track with money dies.

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Speaker 2: I've got so many questions. I want to ask you.

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Speaker 2: Something that I've always dealt with. I guess as an

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Speaker 2: ex financial advisor, is guilt. So you know you've gone

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Speaker 2: through this, I've done absolutely the best you can for

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Speaker 2: your mum, right like end to end. You know she

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Speaker 2: had a life well lived and that is so beautiful.

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Speaker 2: But then the end comes, and it's usually not immediate.

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Speaker 2: It might be two or three months after the passing.

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Speaker 2: You're finally making some big decisions around some inheritance, around

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Speaker 2: some money, whether that is the thousand dollars that you've

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Speaker 2: inherited a need to allocate, or it's a whole house,

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Speaker 2: or it might be an entire investment portfolio that sets

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Speaker 2: you up for the rest of your life. There seems

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Speaker 2: to be a lot of guilt around I guess spending

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Speaker 2: that money, and you said something earlier about honoring the money,

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Speaker 2: and that's what I really you know, drive people towards

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Speaker 2: I'm like, no, your mum can't be here. Like obviously,

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Speaker 2: anyone who has gone through this can empathize and say,

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Speaker 2: in a flash, I'll trade my apartment, I'll trade the

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Speaker 2: money that I received. I want my mom back ten

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Speaker 2: out of ten, even if it's for a day, like

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Speaker 2: I would take that back in a heartbeat. However, have

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Speaker 2: you dealt with the I guess guilt that comes with

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Speaker 2: taking on such a large responsibility.

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Speaker 4: I don't know if I would frame.

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Speaker 2: It as guilt good because it's not.

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Speaker 4: No. One of the biggest lessons that I've learned is

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Speaker 4: life is significantly too short to be messing around with

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Speaker 4: those kinds of feelings, right, And I suppose the other

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Speaker 4: side of it, maybe I didn't so much to deal

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Speaker 4: with guilt, but I did, for a period of time

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Speaker 4: felt this almost like impending sense of you know, oh

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Speaker 4: my goodness, I haven't done the things that I want

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Speaker 4: to do just yet, and what if I don't have

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Speaker 4: the time to do it. You know, my mom did

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Speaker 4: the things that she wanted to do, and she made

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Speaker 4: all of the right decisions, and then you end up

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Speaker 4: putting that mirror on yourself. And so I think for me,

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Speaker 4: it was we can get into it when you ask

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Speaker 4: me some of the questions. But you'll find out this

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Speaker 4: year I've made a lot of big decisions.

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Speaker 2: All right, Right, let's get into the questions.

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Speaker 4: Then I've done her eyes wide open.

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Speaker 2: No, I love it.

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Speaker 4: I love it.

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Speaker 2: So back to the first question I usually ask people,

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Speaker 2: but I wanted to talk about your mamma first.

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Speaker 4: Sorry, Yeah, I know she's worth it, she answers, then.

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Speaker 2: Is worth it? Exactly? What grade would you give your

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Speaker 2: money habits if I asked you to give yourself a

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Speaker 2: grade from A three to F.

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Speaker 4: I think I'm a solid A.

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Speaker 2: You're a solid A. I love the conviction. Next question,

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Speaker 2: I want to know, obviously a bit more about your

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Speaker 2: money story. How did you grow up around money? What

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Speaker 2: did that look like? You've dropped in conversation a little

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Speaker 2: bit earlier that you were brought up by quote two

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Speaker 2: people with their head screwed on.

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Speaker 4: What was that like? Yeah, they were raised in very

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Speaker 4: humble homes and not to the point of having food insecurity,

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Speaker 4: but to the point of, you know, both leaving school

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Speaker 4: at sixteen to get work and you know, moving out

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Speaker 4: of home pretty quickly, to you know, be independent and

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Speaker 4: to not you know, burden their family and things like that.

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Speaker 4: My mum also lost her mother when she was quite

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Speaker 4: young as well, so a bit of a legacy there.

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Speaker 4: And then they met quite young and were very smart

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Speaker 4: about things. So you know, if you look at their timeline,

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Speaker 4: they waited a while, like you know, this was in

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Speaker 4: the eighties, so a while for the time being, like

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Speaker 4: six years before they even got married.

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Speaker 2: Oh what yeah, that's a lot of time. Yeah, mom

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Speaker 2: and dad were savvy.

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Speaker 4: Exactly. They waited almost ten years being together before they

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Speaker 4: even had kids.

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Speaker 2: Oh I love this from them. Yeah they were planned

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Speaker 2: and I was too. And it shocks me and like,

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Speaker 2: who chose this?

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Speaker 4: Really? Okay me? All right? Interesting that was a choice. Like,

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Speaker 4: my mom has always been very financially informed, which was

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Speaker 4: a great role model.

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Speaker 2: She's a woman after my own heart. I already love her.

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Speaker 4: I would go over and she'd be like, what superannuation

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Speaker 4: account are you with?

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Speaker 2: Yes, Mum, you're a queen.

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Speaker 4: She'd be like, I don't think that they're as competitive

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Speaker 4: as the other one. I think you should change this one.

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Speaker 4: And then she'd like give me this spiel of why, and.

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Speaker 2: I hope that's the mom. I am like you right,

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Speaker 2: my kids, if it comes out and it's called superannuation,

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Speaker 2: don't be surprised.

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Speaker 4: One of my mum's friends got divorced quite later in life,

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Speaker 4: and in that relationship she had no financial independence and

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Speaker 4: obviously had to learn a lot in her sixties, and

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Speaker 4: you know, my mom got some finance books and went

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Speaker 4: over and you know, had some catchups with her and

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Speaker 4: helped her get herself set up, and she's back in

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Speaker 4: the workforce and all these kinds of things.

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Speaker 2: So Mom sounds like she was a queen, yeah, exactly.

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Speaker 4: And she learned about shares when she was working at

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Speaker 4: a bank and she bought some and then they sold them,

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Speaker 4: and they paid off the house, and then they renovated

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Speaker 4: the house and then like re mortgage, and they were

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Speaker 4: always doing what they could. And my sister and I

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Speaker 4: both went to really good schools. We both got university educations,

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Speaker 4: and it's always just sort of been, I think, for them.

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Speaker 4: And what I've seen is independence, like a strong sense

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Speaker 4: of independence and needing to stand on your own two

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Speaker 4: feet and not burdening other people with your financial needs,

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Speaker 4: you know, like not doing things that you can't afford,

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Speaker 4: so you know, you live the life that you can.

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Speaker 4: And then also just one foot in front of the other,

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Speaker 4: like making sure that every decision that you make is

352
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Speaker 4: putting yourself in a better position than you were the

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Speaker 4: day before. I love it, And that might be small,

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Speaker 4: but you'll find yourself like five years later and you'll

355
00:18:42,440 --> 00:18:45,520
Speaker 4: look back and you'll go, my goodness, I never thought

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Speaker 4: that i'd be here.

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Speaker 2: No wonder your parents have a daughter that had such

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Speaker 2: conviction that she was an a like, it's not surprising.

359
00:18:54,240 --> 00:18:55,919
Speaker 2: I should have asked you the other one first and

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Speaker 2: then been like, right, so you think you're in a

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Speaker 2: financially because like I expect nothing less this point.

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Speaker 4: All right?

363
00:19:00,960 --> 00:19:02,520
Speaker 2: Tell me now, what do you do for work? How

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00:19:02,600 --> 00:19:03,760
Speaker 2: much money do you earn.

365
00:19:03,880 --> 00:19:06,080
Speaker 4: A work in HR? Been doing that for about five

366
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Speaker 4: years now and I'm on one hundred and eighteen thousand

367
00:19:09,680 --> 00:19:10,000
Speaker 4: a year?

368
00:19:10,359 --> 00:19:12,119
Speaker 2: Is that including or excluding Super?

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00:19:12,480 --> 00:19:13,320
Speaker 4: Excluding Super?

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00:19:13,480 --> 00:19:14,919
Speaker 2: Also you get super on top of that.

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Speaker 4: I'm actually so proud of that. My first job out

372
00:19:18,640 --> 00:19:21,359
Speaker 4: of UNI five years ago was like fifty k.

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Speaker 2: Hold on, so in five years you've gone from fifty

374
00:19:24,000 --> 00:19:27,160
Speaker 2: k to one hundred and eighteen plus Super. Yeah, sorry

375
00:19:27,280 --> 00:19:29,160
Speaker 2: quick crash course, how do we do that too?

376
00:19:31,280 --> 00:19:36,000
Speaker 4: Never leave a job unhappy. Always fix your situation first,

377
00:19:37,400 --> 00:19:39,720
Speaker 4: and you talk about it a lot in your books

378
00:19:39,720 --> 00:19:42,439
Speaker 4: and things like that. You push for those promotions, but

379
00:19:42,520 --> 00:19:44,320
Speaker 4: you ask them, what do I need to do to

380
00:19:44,359 --> 00:19:45,760
Speaker 4: get that pay rise? What do I need to do

381
00:19:45,800 --> 00:19:47,919
Speaker 4: to get that promotion? Get your manager to spell it

382
00:19:47,960 --> 00:19:49,480
Speaker 4: out for you, and then keep track of what you.

383
00:19:49,440 --> 00:19:51,000
Speaker 2: Do, and then you can be on one hundred and

384
00:19:51,040 --> 00:19:52,920
Speaker 2: eighteen plus Super All right, I'm just going to copy

385
00:19:52,960 --> 00:19:56,240
Speaker 2: you that cut paste. Stunning. I love that advice. That's

386
00:19:56,280 --> 00:19:59,600
Speaker 2: so inspiring. In five years, you've gone from fifty grand

387
00:19:59,640 --> 00:20:03,000
Speaker 2: to work eighteen queen. I love it. That is very,

388
00:20:03,119 --> 00:20:06,320
Speaker 2: very impressive. So tell me a bit more about your

389
00:20:06,359 --> 00:20:09,000
Speaker 2: big money goals. What are you currently working towards.

390
00:20:09,359 --> 00:20:12,840
Speaker 4: Well, I just achieved my big money goal. I settled

391
00:20:12,840 --> 00:20:14,800
Speaker 4: on my apartment in September.

392
00:20:15,160 --> 00:20:20,760
Speaker 2: Congratulations, Thank you. So exciting. Your mama would be so proud.

393
00:20:20,920 --> 00:20:23,200
Speaker 2: She'd be like, get a little queen. That's exactly how

394
00:20:23,200 --> 00:20:23,760
Speaker 2: I taught you.

395
00:20:24,040 --> 00:20:26,639
Speaker 4: Exactly, and it's what she wanted, which is why you

396
00:20:26,720 --> 00:20:28,640
Speaker 4: know you're asking me about how I spent the money

397
00:20:28,680 --> 00:20:31,200
Speaker 4: and everything. It was all one hundred percent on putting

398
00:20:31,240 --> 00:20:35,520
Speaker 4: a very generous deposit down on my apartment because in

399
00:20:35,560 --> 00:20:38,440
Speaker 4: today's economy, I wanted to reduce the amount of money

400
00:20:38,480 --> 00:20:40,520
Speaker 4: that I was borrowing from the bank as much as

401
00:20:40,520 --> 00:20:40,800
Speaker 4: I could.

402
00:20:41,200 --> 00:20:42,800
Speaker 2: Yeah, because it's crippling right now.

403
00:20:43,200 --> 00:20:47,640
Speaker 4: Oh yeah, So I didn't want to invest in shares

404
00:20:47,920 --> 00:20:52,879
Speaker 4: or anything like that. I was also made redundant earlier

405
00:20:52,920 --> 00:20:57,000
Speaker 4: on in the Yeah, about like two months after my

406
00:20:57,040 --> 00:20:57,680
Speaker 4: mom passed away.

407
00:20:57,760 --> 00:21:01,480
Speaker 2: I'll kick you while you're down are you that should

408
00:21:01,520 --> 00:21:02,280
Speaker 2: be illegal.

409
00:21:04,840 --> 00:21:08,080
Speaker 4: I know, I got a three month payout from.

410
00:21:07,880 --> 00:21:09,720
Speaker 2: That, Okay, not too bad.

411
00:21:09,600 --> 00:21:11,919
Speaker 4: And I secured a job before my redundancy it had

412
00:21:11,960 --> 00:21:12,760
Speaker 4: even been oh.

413
00:21:12,640 --> 00:21:15,120
Speaker 2: Okay, so it all works out. But like in my head,

414
00:21:15,160 --> 00:21:18,200
Speaker 2: that should still be illegal, Like that is not acceptable.

415
00:21:18,200 --> 00:21:19,400
Speaker 2: How's your mental health now?

416
00:21:20,160 --> 00:21:20,760
Speaker 4: Oh, we're good.

417
00:21:22,400 --> 00:21:24,600
Speaker 2: But at the time, I am assuming that that wasn't

418
00:21:24,600 --> 00:21:26,199
Speaker 2: the most comfortable of periods.

419
00:21:26,680 --> 00:21:29,960
Speaker 4: I was just honestly thought, like, you know what, this

420
00:21:30,119 --> 00:21:32,560
Speaker 4: isn't as bad as what I've dealt with already. This. Yeah,

421
00:21:32,880 --> 00:21:35,359
Speaker 4: like I think when you lose somebody really close to you,

422
00:21:35,359 --> 00:21:38,520
Speaker 4: you think that's a problem. This is not a problem.

423
00:21:38,600 --> 00:21:41,159
Speaker 4: This is fixable. Yeah, okay, I can fix this. I

424
00:21:41,160 --> 00:21:44,560
Speaker 4: can't fix somebody dying, but I can fix getting a

425
00:21:44,600 --> 00:21:45,040
Speaker 4: new job.

426
00:21:45,320 --> 00:21:48,879
Speaker 2: Yeah, okay. It makes these problems seem very small in comparison.

427
00:21:49,400 --> 00:21:51,480
Speaker 4: It really does. I was like, oh, that's just work,

428
00:21:51,600 --> 00:21:52,560
Speaker 4: Like we'll figure that out.

429
00:21:52,960 --> 00:21:55,359
Speaker 2: Yeah, that's fine. Like, honestly, at this point, don't even

430
00:21:55,400 --> 00:21:55,960
Speaker 2: need a job.

431
00:21:56,400 --> 00:21:59,240
Speaker 4: Yep. So I also got like kind of that additional

432
00:21:59,280 --> 00:22:01,600
Speaker 4: bonus money as well. Well. I want to say about

433
00:22:01,600 --> 00:22:02,720
Speaker 4: twenty k yep.

434
00:22:02,800 --> 00:22:06,200
Speaker 2: Maybe for those listening who might not understand a redundancy

435
00:22:06,440 --> 00:22:10,480
Speaker 2: you are lucky. But also there's different tax rates applied

436
00:22:10,520 --> 00:22:14,040
Speaker 2: to redundancy payouts. So obviously you'd be on a pretty

437
00:22:14,040 --> 00:22:16,520
Speaker 2: good tax rate if you're on one hundred and eighteen

438
00:22:16,560 --> 00:22:20,399
Speaker 2: plus super, but you often end up walking away with

439
00:22:20,480 --> 00:22:22,720
Speaker 2: a bit more cash in the bank than you would

440
00:22:22,800 --> 00:22:25,359
Speaker 2: have if that was treated as normal pay So twenty

441
00:22:25,440 --> 00:22:28,080
Speaker 2: k is good. That would have been a nice little bonus,

442
00:22:28,200 --> 00:22:30,520
Speaker 2: especially if you had sorted out another job. Did that

443
00:22:30,600 --> 00:22:32,280
Speaker 2: just all go straight to your home deposit?

444
00:22:32,680 --> 00:22:34,280
Speaker 4: Most of it? Yeah, and then part of it went

445
00:22:34,320 --> 00:22:38,159
Speaker 4: to a holiday. So that is why I kind of

446
00:22:38,200 --> 00:22:40,240
Speaker 4: also was very confident in spending the money that I

447
00:22:40,240 --> 00:22:45,359
Speaker 4: got from Dad through MYNN or my mum, in just

448
00:22:45,400 --> 00:22:47,760
Speaker 4: putting that straight onto the deposit, because I had a

449
00:22:47,760 --> 00:22:50,480
Speaker 4: little bit like extra fun money come in at the

450
00:22:50,480 --> 00:22:53,359
Speaker 4: time that I was able to spend on, you know,

451
00:22:53,440 --> 00:22:56,080
Speaker 4: some stuff that you know, just for me. So I

452
00:22:56,119 --> 00:22:56,520
Speaker 4: did that.

453
00:22:56,640 --> 00:22:58,080
Speaker 2: You deserved that, thank you.

454
00:22:58,359 --> 00:23:00,359
Speaker 4: So then I started a new job, and then I

455
00:23:00,400 --> 00:23:04,439
Speaker 4: went overseas and my dad texted me while I was

456
00:23:04,480 --> 00:23:06,680
Speaker 4: overseas being like, there's some money in your bank account.

457
00:23:08,280 --> 00:23:12,280
Speaker 2: I was like, oh, chill, no worries, no problems at all.

458
00:23:12,480 --> 00:23:14,600
Speaker 4: It sent me like one hundred and forty.

459
00:23:14,440 --> 00:23:19,520
Speaker 2: K just a little bit of change. Dad, Oh my gosh,

460
00:23:19,520 --> 00:23:20,720
Speaker 2: but that's life changing.

461
00:23:21,119 --> 00:23:23,439
Speaker 4: It was like at a restaurant and I was like, okay,

462
00:23:23,960 --> 00:23:26,880
Speaker 4: all right, we're just gonna not react.

463
00:23:27,000 --> 00:23:29,119
Speaker 2: Yeah, no, no, no, we don't want to react. But also

464
00:23:29,800 --> 00:23:32,919
Speaker 2: like it's a life changing amount of money, right, Like

465
00:23:33,000 --> 00:23:36,960
Speaker 2: it puts you in such a different situation, and it's

466
00:23:37,000 --> 00:23:38,639
Speaker 2: a lot all right, I have a lot of questions.

467
00:23:38,680 --> 00:23:40,520
Speaker 2: Let's go to a really quick break on the flip side.

468
00:23:40,560 --> 00:23:42,320
Speaker 2: I want to talk about your property journey. I want

469
00:23:42,359 --> 00:23:44,560
Speaker 2: to talk about investments, and I want to talk about

470
00:23:44,600 --> 00:23:47,040
Speaker 2: I guess how you've structured this home loan because you

471
00:23:47,119 --> 00:23:49,040
Speaker 2: said before obviously I wanted a bit more of a

472
00:23:49,119 --> 00:23:52,120
Speaker 2: chunky deposit because interest rates are so high. So I've

473
00:23:52,200 --> 00:23:59,159
Speaker 2: just got so many questions. Guys, don't go anywhere, all right,

474
00:23:59,240 --> 00:24:02,440
Speaker 2: money dis are back, and I want to know first,

475
00:24:02,440 --> 00:24:04,439
Speaker 2: cab off the rank. Do you have any investments? If so,

476
00:24:04,520 --> 00:24:05,160
Speaker 2: what are they?

477
00:24:06,000 --> 00:24:09,960
Speaker 4: Yes, so I have my house which I live in.

478
00:24:10,080 --> 00:24:11,920
Speaker 4: We cannot classify that as an investment.

479
00:24:12,080 --> 00:24:14,240
Speaker 2: Or you've been listening to the podcast, I see.

480
00:24:14,080 --> 00:24:19,560
Speaker 4: You depending on your perspective whether you like to think

481
00:24:19,560 --> 00:24:20,679
Speaker 4: of it as an investment or not.

482
00:24:20,880 --> 00:24:22,720
Speaker 2: Well, obviously talk to me about the house. If you

483
00:24:22,760 --> 00:24:24,320
Speaker 2: see it as an investment, why do you see it

484
00:24:24,320 --> 00:24:26,359
Speaker 2: an investment? How does that work and what does that

485
00:24:26,400 --> 00:24:26,800
Speaker 2: look like?

486
00:24:27,160 --> 00:24:30,439
Speaker 4: Yeah, so, first of all, I adore it and I'm

487
00:24:30,520 --> 00:24:34,480
Speaker 4: super happy living in it. It's an apartment. I could

488
00:24:34,520 --> 00:24:37,720
Speaker 4: have gone further out and bought myself a house, but

489
00:24:38,160 --> 00:24:41,280
Speaker 4: I like living close to the city, and I thought,

490
00:24:41,600 --> 00:24:43,439
Speaker 4: I'm not going to buy something for a future that

491
00:24:43,480 --> 00:24:45,480
Speaker 4: I don't even know is going to happen. I'm single.

492
00:24:45,640 --> 00:24:48,680
Speaker 2: Like, so you're a catch as well. Look at this.

493
00:24:48,880 --> 00:24:51,560
Speaker 2: She works in HR she owns one hundred and eighteen K.

494
00:24:51,800 --> 00:24:52,840
Speaker 4: We'll take refer off.

495
00:24:53,280 --> 00:24:55,840
Speaker 2: Yeah, I'm working on it. You own your own house, Like,

496
00:24:56,080 --> 00:24:58,320
Speaker 2: you're a catch ten out of ten. If you popped

497
00:24:58,359 --> 00:25:00,560
Speaker 2: up on bumble for me, I'd be like, yep, ten.

498
00:25:00,880 --> 00:25:02,800
Speaker 4: I'll never forget. My dad once said to music, when

499
00:25:02,800 --> 00:25:04,159
Speaker 4: you buy a house, you're going to be so much

500
00:25:04,160 --> 00:25:06,760
Speaker 4: more attractive because men will be attracted to your assets.

501
00:25:07,720 --> 00:25:10,679
Speaker 2: Getting the bin, Dad, I'm not going to tell the

502
00:25:10,720 --> 00:25:12,959
Speaker 2: men that that's a secret. I'll pop out on our

503
00:25:13,000 --> 00:25:14,760
Speaker 2: wedding day and let them know. Oh, by the way,

504
00:25:14,800 --> 00:25:17,119
Speaker 2: did you also know that I'm very financially.

505
00:25:16,600 --> 00:25:19,399
Speaker 4: Secure, pragmatic Dad advice you know what.

506
00:25:19,480 --> 00:25:20,720
Speaker 2: I like that he's interested.

507
00:25:21,440 --> 00:25:26,000
Speaker 4: So I got the apartment six' eighty for it, and

508
00:25:26,040 --> 00:25:29,840
Speaker 4: I put down just over one hundred and eighty on it.

509
00:25:29,880 --> 00:25:33,840
Speaker 4: So I got my very nice loan under five hundred.

510
00:25:34,359 --> 00:25:37,840
Speaker 4: And then on top of that, obviously you know stamp

511
00:25:37,920 --> 00:25:41,639
Speaker 4: and legal fees and yeah, all of that kind of stuff.

512
00:25:41,680 --> 00:25:46,000
Speaker 4: So I basically cleared my savings out because I saved.

513
00:25:45,760 --> 00:25:48,720
Speaker 2: Up seventy k oh, that's so good.

514
00:25:49,160 --> 00:25:53,840
Speaker 4: Yeah, plus Dad's money, and so then that kind of yeah,

515
00:25:53,960 --> 00:25:59,000
Speaker 4: dropped my overall loaning amount down quite significantly. And then

516
00:25:59,040 --> 00:26:03,280
Speaker 4: I signed up for a principle and interest loan. Yeah.

517
00:26:03,320 --> 00:26:05,040
Speaker 4: So the way you're asking me about how I see

518
00:26:05,040 --> 00:26:06,680
Speaker 4: this as an investment, the way I see it is

519
00:26:06,720 --> 00:26:10,800
Speaker 4: that I'm building equity. Yeah, I'm in a very resellable suburb.

520
00:26:11,320 --> 00:26:13,600
Speaker 4: It's not going to go up massively like houses do,

521
00:26:13,840 --> 00:26:16,960
Speaker 4: but it will go up maybe a little bit. But

522
00:26:17,119 --> 00:26:21,159
Speaker 4: at the meantime, I'm putting money away essentially so that

523
00:26:21,600 --> 00:26:25,719
Speaker 4: if my life does change, then I'm setting myself up

524
00:26:25,760 --> 00:26:30,000
Speaker 4: to make my purchase in the future more accessible. For myself.

525
00:26:30,240 --> 00:26:31,440
Speaker 4: I'm in the market. Essentially.

526
00:26:31,520 --> 00:26:34,000
Speaker 2: I love this. Do you think that your mindset around

527
00:26:34,080 --> 00:26:38,159
Speaker 2: purchasing was a little bit more stable because you actually

528
00:26:38,200 --> 00:26:41,679
Speaker 2: had saved such a significant amount of money on your own, So,

529
00:26:41,720 --> 00:26:44,159
Speaker 2: like you obviously said, I actually saved seventy grand of

530
00:26:44,200 --> 00:26:46,119
Speaker 2: this on my own, and then obviously one pint forty

531
00:26:46,280 --> 00:26:49,800
Speaker 2: turbocharges it. That's very sexy. We love that. But I

532
00:26:49,840 --> 00:26:53,400
Speaker 2: feel like sometimes if you only are working with inheritance,

533
00:26:53,480 --> 00:26:55,080
Speaker 2: there's a lot more apprehension.

534
00:26:55,119 --> 00:26:57,680
Speaker 4: How did you feel, Yeah, like part of it was, yeah,

535
00:26:57,680 --> 00:26:59,760
Speaker 4: this is my money, because not all of it was

536
00:27:00,480 --> 00:27:02,439
Speaker 4: the money from my parents. That I had saved a

537
00:27:02,480 --> 00:27:04,520
Speaker 4: significant amount of money, and I wouldn't say that seventy

538
00:27:04,560 --> 00:27:05,800
Speaker 4: k is insignificant at all.

539
00:27:06,280 --> 00:27:08,840
Speaker 2: Nobody would and if they do, they're not in our community,

540
00:27:09,040 --> 00:27:10,480
Speaker 2: like they're not our people, my friend.

541
00:27:11,240 --> 00:27:13,440
Speaker 4: But having said that, I was very quick at making

542
00:27:13,480 --> 00:27:16,160
Speaker 4: my decisions because I just came and saw this place

543
00:27:16,200 --> 00:27:18,480
Speaker 4: and I was like, it's perfect the real estate age.

544
00:27:18,520 --> 00:27:20,240
Speaker 4: I was like, this will buy it today, And I

545
00:27:20,280 --> 00:27:22,119
Speaker 4: went home and I did the math and everything. I

546
00:27:22,160 --> 00:27:26,000
Speaker 4: made an offer and within four hours the yea and

547
00:27:26,800 --> 00:27:28,960
Speaker 4: I was lying in bed. It was like nine o'clock

548
00:27:29,000 --> 00:27:30,800
Speaker 4: at night and I was like, oh my god, I've

549
00:27:30,800 --> 00:27:32,600
Speaker 4: own an apartment. What just happened.

550
00:27:33,960 --> 00:27:37,000
Speaker 2: I love that so much because so many times people

551
00:27:37,200 --> 00:27:41,000
Speaker 2: have like painful money journeys when it comes to property.

552
00:27:41,040 --> 00:27:43,560
Speaker 2: They're like, oh, I've put on offers on fifty properties

553
00:27:43,560 --> 00:27:45,479
Speaker 2: that I haven't got them. And then you know when

554
00:27:45,520 --> 00:27:47,680
Speaker 2: one hundred k over at auction, et cetera, et cetera,

555
00:27:47,800 --> 00:27:50,359
Speaker 2: you just walked in made an offer. Four hours later

556
00:27:50,400 --> 00:27:52,119
Speaker 2: it was all yours. Do you think your mom had

557
00:27:52,160 --> 00:27:53,800
Speaker 2: anything to do with that? Because I think she did.

558
00:27:54,119 --> 00:27:58,000
Speaker 4: When I was moving, I was living at home and

559
00:27:58,080 --> 00:28:00,880
Speaker 4: I'm going through the garage and everything, and I'm finding

560
00:28:00,960 --> 00:28:03,200
Speaker 4: full sets of cutlery that my mum had put aside.

561
00:28:03,320 --> 00:28:07,119
Speaker 4: I'm finding a whole bunch of like shop cooking and

562
00:28:07,240 --> 00:28:11,280
Speaker 4: finding like beaters and all these extra you know, bits

563
00:28:11,280 --> 00:28:12,919
Speaker 4: of things to have in the house. And I'm like, oh, man,

564
00:28:13,080 --> 00:28:15,399
Speaker 4: she had plans. I love her.

565
00:28:15,480 --> 00:28:18,960
Speaker 2: She knew what she was doing. She was involved. Yeah,

566
00:28:19,040 --> 00:28:21,760
Speaker 2: she's the mum that had the money magazine and was

567
00:28:21,800 --> 00:28:24,159
Speaker 2: like meddling in your super and was like they're not

568
00:28:24,200 --> 00:28:26,840
Speaker 2: committed eve enough, Like you best believe that wasn't going

569
00:28:26,920 --> 00:28:30,720
Speaker 2: to stop so at the moment, let's talk about the

570
00:28:30,800 --> 00:28:33,320
Speaker 2: debt that you have. You said you took out a

571
00:28:33,320 --> 00:28:37,159
Speaker 2: five hundred thousand dollars loane. What's currently owing on that?

572
00:28:37,560 --> 00:28:39,360
Speaker 2: And do you have any other debts?

573
00:28:39,360 --> 00:28:44,440
Speaker 4: So HEX is sitting at about thirty five, OK. I

574
00:28:44,480 --> 00:28:48,800
Speaker 4: want to say, I'm just ignoring that. It comes out

575
00:28:48,880 --> 00:28:50,040
Speaker 4: pretax and.

576
00:28:50,240 --> 00:28:52,440
Speaker 2: You'll knock it over, my friend. I don't think on

577
00:28:52,440 --> 00:28:54,520
Speaker 2: one hundred and eighteen grand you need to worry too

578
00:28:54,600 --> 00:28:57,560
Speaker 2: much about your HEX. It'll slowly tick away and you'll

579
00:28:57,600 --> 00:28:58,360
Speaker 2: be just fine.

580
00:28:58,600 --> 00:29:01,520
Speaker 4: Yeah, it's going down. It's started at forty five. You know,

581
00:29:01,640 --> 00:29:04,120
Speaker 4: we're ten k off already. Happy days.

582
00:29:04,120 --> 00:29:07,640
Speaker 2: Oh money went and I've only.

583
00:29:07,600 --> 00:29:10,640
Speaker 4: Just gotten the loan, so I haven't worked too much

584
00:29:10,680 --> 00:29:12,240
Speaker 4: off of it. But we're down I think to like

585
00:29:12,680 --> 00:29:17,120
Speaker 4: four hundred and ninety seven ninety eight yep. So just

586
00:29:17,200 --> 00:29:21,120
Speaker 4: chipping away it that slowly and that's it for debts.

587
00:29:21,120 --> 00:29:23,320
Speaker 4: I don't have anything else. Never took out a loan

588
00:29:23,320 --> 00:29:23,959
Speaker 4: in my life.

589
00:29:24,240 --> 00:29:27,200
Speaker 2: That's very sexy. And to be honest with parents like yours,

590
00:29:27,280 --> 00:29:31,000
Speaker 2: I'm not surprised that that's what you would say. Tell

591
00:29:31,040 --> 00:29:33,920
Speaker 2: me a bit about what you think your best money

592
00:29:33,960 --> 00:29:34,640
Speaker 2: habit is.

593
00:29:35,000 --> 00:29:39,760
Speaker 4: Best money habit. I'm organized like I treat it like

594
00:29:40,000 --> 00:29:43,880
Speaker 4: my life. I schedule in my payments, I know exactly

595
00:29:43,880 --> 00:29:47,800
Speaker 4: what's in my bank account. I can really research when

596
00:29:47,800 --> 00:29:50,920
Speaker 4: I need to. I've got my house in order. I

597
00:29:50,960 --> 00:29:53,760
Speaker 4: don't have any skeletons in the closet. That's just going

598
00:29:53,800 --> 00:29:57,000
Speaker 4: to say quickly. We mentioned investments, do have super and

599
00:29:57,040 --> 00:29:58,720
Speaker 4: I also do have some shares as well.

600
00:29:59,120 --> 00:30:00,800
Speaker 2: Oh, tell me about the those shares. How did you

601
00:30:00,840 --> 00:30:03,840
Speaker 2: forget those? You should know me well enough by now,

602
00:30:03,880 --> 00:30:04,680
Speaker 2: my friends.

603
00:30:04,400 --> 00:30:06,480
Speaker 4: I'm distracted by the house chat.

604
00:30:06,640 --> 00:30:09,320
Speaker 2: Yeah, okay, that's so fair. Tell me about your shares.

605
00:30:09,520 --> 00:30:13,280
Speaker 4: I inherited some from my work. Part of my package

606
00:30:13,360 --> 00:30:16,800
Speaker 4: was to be given shares, so I kick started off

607
00:30:16,840 --> 00:30:21,560
Speaker 4: with that, and then I invest. Prior to owning the house,

608
00:30:21,600 --> 00:30:25,560
Speaker 4: I was putting away fifty bucks a week into an

609
00:30:25,560 --> 00:30:28,160
Speaker 4: ETF and then now it's down to twenty a week.

610
00:30:28,280 --> 00:30:30,600
Speaker 2: Yeah, because you have a mortgage and life is expensive.

611
00:30:30,800 --> 00:30:34,520
Speaker 4: Yep. So that's just kind of sitting there. It's about

612
00:30:34,720 --> 00:30:38,560
Speaker 4: six and a half thousand dollars, So we'll just let

613
00:30:38,600 --> 00:30:41,800
Speaker 4: that slowly build over time. I don't know the share market.

614
00:30:41,920 --> 00:30:44,160
Speaker 4: I think I'm just happy to be slow about it

615
00:30:44,320 --> 00:30:48,160
Speaker 4: and just I'll get it to probably maybe about fifteen K,

616
00:30:48,400 --> 00:30:50,800
Speaker 4: and then I'll look at investing in the blue chips. No,

617
00:30:50,920 --> 00:30:53,520
Speaker 4: I love, and in the meantime, I'll just let that

618
00:30:53,560 --> 00:30:56,440
Speaker 4: slowly build and then my supers at about forty.

619
00:30:56,600 --> 00:31:01,080
Speaker 2: Hey, that's very sexy for your age dollars. No forty

620
00:31:01,120 --> 00:31:06,440
Speaker 2: dollars or forty thousand dollars. I was about to be like, sorry,

621
00:31:06,440 --> 00:31:07,160
Speaker 2: I think you're lying.

622
00:31:10,040 --> 00:31:12,440
Speaker 4: I just realized I said like forty and didn't clarify

623
00:31:12,480 --> 00:31:14,040
Speaker 4: how much of forty it was.

624
00:31:14,480 --> 00:31:17,440
Speaker 2: I've read you like a very open book. It is okay,

625
00:31:17,760 --> 00:31:19,320
Speaker 2: But what I want to know you mentioned before that

626
00:31:19,360 --> 00:31:22,040
Speaker 2: you're putting fifty bucks now twenty dollars a week into

627
00:31:22,080 --> 00:31:26,480
Speaker 2: an ETF. It's a really beautiful way of investing. You said, Look,

628
00:31:26,520 --> 00:31:28,400
Speaker 2: I'm just going to let that cheap away, Like you know,

629
00:31:28,480 --> 00:31:30,720
Speaker 2: I've got my priorities in other areas, but at least

630
00:31:30,760 --> 00:31:34,200
Speaker 2: I'm investing. How did you pick that ETF and what

631
00:31:34,240 --> 00:31:35,480
Speaker 2: platform did you go with?

632
00:31:35,880 --> 00:31:38,040
Speaker 4: I bought investing Machines on the Money.

633
00:31:38,920 --> 00:31:40,960
Speaker 2: Oh, that's a great book. I heard great things about

634
00:31:40,960 --> 00:31:41,480
Speaker 2: that book.

635
00:31:42,640 --> 00:31:46,200
Speaker 4: I injured my back and my brother in law sat

636
00:31:46,240 --> 00:31:49,720
Speaker 4: next to me and read it to me while I

637
00:31:49,760 --> 00:31:52,440
Speaker 4: tried not to cry about my saw back because he's

638
00:31:52,480 --> 00:31:52,800
Speaker 4: a gem.

639
00:31:52,960 --> 00:31:56,240
Speaker 2: Oh my gosh, what a legend. Also, you could have

640
00:31:56,280 --> 00:32:00,760
Speaker 2: picked a better book, like if I'm sad out of

641
00:32:00,760 --> 00:32:04,200
Speaker 2: my back, I don't want to hear investing with She's

642
00:32:04,280 --> 00:32:06,960
Speaker 2: on the money like read me some I don't know,

643
00:32:07,000 --> 00:32:10,320
Speaker 2: fifty shades of great probably inappropriate for that dynamic that you.

644
00:32:10,320 --> 00:32:12,520
Speaker 4: Had, not for the brother in law.

645
00:32:12,520 --> 00:32:15,320
Speaker 2: I'm from Tasmania, so maybe that's okay. I don't know.

646
00:32:17,320 --> 00:32:19,200
Speaker 2: But at the end of the day, like I would

647
00:32:19,200 --> 00:32:21,240
Speaker 2: have picked something a little bit more engaging that maybe

648
00:32:21,280 --> 00:32:22,840
Speaker 2: would have felt less painful.

649
00:32:23,120 --> 00:32:25,680
Speaker 4: But you do, you booth, Well, we learned things and

650
00:32:25,680 --> 00:32:27,160
Speaker 4: that was fun. Bick.

651
00:32:28,360 --> 00:32:31,240
Speaker 2: I couldn't agree more. But obviously the book isn't going

652
00:32:31,320 --> 00:32:34,239
Speaker 2: to give you exactly what ETF to invest in, but

653
00:32:34,280 --> 00:32:37,200
Speaker 2: more like a process of elimination and how to pick one.

654
00:32:37,360 --> 00:32:39,920
Speaker 2: But what did you come up with? What did you say?

655
00:32:39,960 --> 00:32:41,840
Speaker 2: All right, well, now I've done my research, this is

656
00:32:41,880 --> 00:32:43,480
Speaker 2: the ETF for me, and this is how I'm going

657
00:32:43,560 --> 00:32:43,920
Speaker 2: to do it.

658
00:32:44,320 --> 00:32:48,560
Speaker 4: So for me, it was about choosing socially responsible ETFs

659
00:32:48,600 --> 00:32:51,080
Speaker 4: because that's something that I'm quite passionate about. So I

660
00:32:51,080 --> 00:32:53,520
Speaker 4: didn't want to be accidentally investing in my money that

661
00:32:53,560 --> 00:32:56,560
Speaker 4: would go against sort of my own values. So I

662
00:32:56,600 --> 00:32:59,360
Speaker 4: broke it down based on my values. I then looked

663
00:32:59,360 --> 00:33:02,560
Speaker 4: at what opacity I had to contribute. I get paid weekly,

664
00:33:02,640 --> 00:33:04,959
Speaker 4: so it's easy for me to manage my contributions weekly.

665
00:33:05,480 --> 00:33:08,600
Speaker 4: I can't like put money away, No, it's there to

666
00:33:08,680 --> 00:33:10,720
Speaker 4: like build up to then invest in one big bolt go,

667
00:33:10,880 --> 00:33:13,720
Speaker 4: So I have to do it, you know, in incremental amounts.

668
00:33:14,280 --> 00:33:16,720
Speaker 4: So then that kind of led to me making a

669
00:33:16,760 --> 00:33:20,640
Speaker 4: decision on what the fees would be in terms of

670
00:33:20,680 --> 00:33:23,959
Speaker 4: like my purchases and what would hurt me less. So

671
00:33:24,120 --> 00:33:27,040
Speaker 4: I suppose there was both that kind of like financial

672
00:33:27,080 --> 00:33:31,600
Speaker 4: decision along with also the moral and you know, kind

673
00:33:31,640 --> 00:33:35,440
Speaker 4: of personal values decision, and that's sort of how I

674
00:33:35,480 --> 00:33:36,400
Speaker 4: got there in the end.

675
00:33:36,920 --> 00:33:39,840
Speaker 2: Yeah, gorgeous. Can I ask what platform you picked to

676
00:33:39,960 --> 00:33:40,520
Speaker 2: invest on?

677
00:33:41,080 --> 00:33:42,360
Speaker 4: Cheers eas? Oh?

678
00:33:42,400 --> 00:33:44,400
Speaker 2: Why am I not surprised? So little ches on the

679
00:33:44,400 --> 00:33:47,560
Speaker 2: money stand? And then what ETF did you pick? Just

680
00:33:47,600 --> 00:33:50,440
Speaker 2: out of interest not advice? Obviously we're just being pervy.

681
00:33:50,480 --> 00:33:53,080
Speaker 4: I need to know the socially responsible option that they

682
00:33:53,120 --> 00:33:54,240
Speaker 4: have on their platform.

683
00:33:54,320 --> 00:33:55,719
Speaker 2: Very sexy. I like this.

684
00:33:56,040 --> 00:33:58,760
Speaker 4: Yeah, so it's a combination of a few things. Yeah,

685
00:33:58,800 --> 00:34:00,680
Speaker 4: I'm just using it as an opportun unity. It's not

686
00:34:00,760 --> 00:34:02,200
Speaker 4: doing super well at the moment.

687
00:34:02,400 --> 00:34:04,360
Speaker 2: No, the market isn't, so that makes sense.

688
00:34:04,520 --> 00:34:07,920
Speaker 4: So I'm just letting it chip away and then I'll

689
00:34:08,000 --> 00:34:09,120
Speaker 4: check it in like ten years.

690
00:34:10,760 --> 00:34:13,799
Speaker 2: That is a very good way to approach investing. I

691
00:34:13,840 --> 00:34:16,800
Speaker 2: don't hate that at all. All right, let's flip the narrative.

692
00:34:17,000 --> 00:34:20,640
Speaker 2: You are an a money person I would assume also

693
00:34:20,719 --> 00:34:24,080
Speaker 2: an A personality type because you and I are very similar.

694
00:34:24,840 --> 00:34:26,960
Speaker 2: So tell me now, which is probably going to be

695
00:34:27,000 --> 00:34:29,840
Speaker 2: hard for an A personality type. What's your worst money habit.

696
00:34:30,840 --> 00:34:32,799
Speaker 4: I don't know if you would be surprised by this,

697
00:34:33,000 --> 00:34:35,760
Speaker 4: but I think there's definitely a thread of people pleasing

698
00:34:35,840 --> 00:34:40,640
Speaker 4: that comes from an A personality type. Yep. And I

699
00:34:40,719 --> 00:34:44,560
Speaker 4: would say probably setting boundaries, which I'm working on. We're

700
00:34:44,560 --> 00:34:47,560
Speaker 4: getting there. I get excited about things that my friends

701
00:34:47,640 --> 00:34:50,840
Speaker 4: want to do, and sometimes I don't always have the

702
00:34:50,840 --> 00:34:54,040
Speaker 4: capacity to afford it. Yeah, that's fair. I don't have

703
00:34:54,080 --> 00:34:56,680
Speaker 4: a credit card, so I've never liked borrowing to do things.

704
00:34:56,960 --> 00:34:59,800
Speaker 4: It just means that maybe I'm eating too minute norse

705
00:35:00,120 --> 00:35:04,000
Speaker 4: week to do things, and that's okay. Or not. But

706
00:35:04,480 --> 00:35:08,000
Speaker 4: I've implemented a buffer fund just stop dipping into my savings,

707
00:35:08,680 --> 00:35:12,120
Speaker 4: and that's actually worked really well. And then I think

708
00:35:12,200 --> 00:35:15,359
Speaker 4: it just comes with time and maturity in terms of

709
00:35:15,719 --> 00:35:18,080
Speaker 4: the kind of friends that you have around you, people

710
00:35:18,160 --> 00:35:22,120
Speaker 4: that you trust, and how you communicate just boundaries in

711
00:35:22,200 --> 00:35:25,240
Speaker 4: general with people. And I think it's just I'm slowly

712
00:35:25,280 --> 00:35:25,759
Speaker 4: getting there.

713
00:35:26,000 --> 00:35:28,520
Speaker 2: Yeah, I love that, and I like the I guess

714
00:35:28,680 --> 00:35:31,719
Speaker 2: ability to self reflect on that saying, oh, I'm a

715
00:35:31,719 --> 00:35:34,040
Speaker 2: bit of a people pleaser, needs to be better at

716
00:35:34,080 --> 00:35:37,160
Speaker 2: setting boundaries is something that I need to do too.

717
00:35:37,800 --> 00:35:40,040
Speaker 2: But then also when I look at my money story

718
00:35:40,040 --> 00:35:42,920
Speaker 2: and I look at my values, I kind of like

719
00:35:43,160 --> 00:35:45,160
Speaker 2: being a people pleaser. At the same time, I think

720
00:35:45,160 --> 00:35:48,359
Speaker 2: there's this very negative connotation when you say, oh, there's

721
00:35:48,360 --> 00:35:52,200
Speaker 2: a people pleaser like that, it's a negative thing.

722
00:35:52,280 --> 00:35:53,360
Speaker 4: I want to make people happy.

723
00:35:53,640 --> 00:35:55,160
Speaker 2: Yeah, And do you know what, if I've got the

724
00:35:55,200 --> 00:35:57,719
Speaker 2: funds and I know that this thing that I could

725
00:35:57,760 --> 00:36:00,319
Speaker 2: purchase is going to make your day even better, I'm

726
00:36:00,360 --> 00:36:02,839
Speaker 2: going to do it anyway. And I don't think that

727
00:36:02,840 --> 00:36:05,319
Speaker 2: that is a negative thing. I think we just need

728
00:36:05,360 --> 00:36:07,879
Speaker 2: to be really aware of those things so that they

729
00:36:07,920 --> 00:36:11,440
Speaker 2: don't end up negatively impacting our bigger goals. Because if

730
00:36:11,520 --> 00:36:14,000
Speaker 2: making those decisions is what's getting in the way of

731
00:36:14,040 --> 00:36:16,759
Speaker 2: purchasing your first home, if that's your biggest goal, or

732
00:36:16,800 --> 00:36:19,319
Speaker 2: investing or getting out of personal debt, then we really

733
00:36:19,360 --> 00:36:22,600
Speaker 2: need to like reflect a bit more. However, Like, I

734
00:36:22,600 --> 00:36:24,560
Speaker 2: think you would be on the same page as me, Like,

735
00:36:24,960 --> 00:36:26,279
Speaker 2: I kind of like being a little bit of a

736
00:36:26,320 --> 00:36:28,120
Speaker 2: people pleaser at the same time. Yeah, I need to

737
00:36:28,120 --> 00:36:29,920
Speaker 2: be maybe a little bit better at boundaries and not

738
00:36:30,080 --> 00:36:34,239
Speaker 2: agree to so much. However, I really like that one

739
00:36:34,280 --> 00:36:37,680
Speaker 2: of my personality traits is, you know, being generous and

740
00:36:37,760 --> 00:36:41,120
Speaker 2: being kind and you know, wanting the best for other people.

741
00:36:41,160 --> 00:36:43,200
Speaker 2: And I don't think that's ever negative. And I think

742
00:36:43,200 --> 00:36:45,440
Speaker 2: that we need to change that narrative around, like, oh,

743
00:36:45,480 --> 00:36:47,960
Speaker 2: she's such a people pleaser to like, oh, she's a

744
00:36:48,000 --> 00:36:50,800
Speaker 2: really kind and generous human being exactly.

745
00:36:50,840 --> 00:36:53,200
Speaker 4: And if I'm the friend that people think will say

746
00:36:53,320 --> 00:36:56,920
Speaker 4: yes to the wine tour, then I'm not mad about

747
00:36:56,920 --> 00:36:58,080
Speaker 4: that perception at all.

748
00:36:58,160 --> 00:37:00,400
Speaker 2: Yeah, I'm pregnant, but I'm still there. I will be

749
00:37:00,440 --> 00:37:03,600
Speaker 2: there with bells on. You're like, I'll drive, yeah, exactly.

750
00:37:03,640 --> 00:37:07,160
Speaker 2: Look how much value I'm bringing as a friend already. Oh,

751
00:37:07,200 --> 00:37:10,120
Speaker 2: my gosh, I love this. I love our conversation. Unfortunately

752
00:37:10,160 --> 00:37:13,840
Speaker 2: we are almost out of time. However, at the start

753
00:37:13,920 --> 00:37:16,319
Speaker 2: of this episode, you said I'm an A I'm not

754
00:37:16,320 --> 00:37:18,239
Speaker 2: going to argue with you. I don't think anyone listening

755
00:37:18,280 --> 00:37:20,400
Speaker 2: to this episode is going to argue with you. But

756
00:37:20,960 --> 00:37:23,359
Speaker 2: you didn't say A plus. What would it take to

757
00:37:23,400 --> 00:37:25,279
Speaker 2: get you to an A plus?

758
00:37:25,920 --> 00:37:30,080
Speaker 4: I think I could be a bit more strategic about

759
00:37:30,080 --> 00:37:36,640
Speaker 4: things sometimes, like you know, researching the actual shares an

760
00:37:36,680 --> 00:37:41,520
Speaker 4: investment economy and things instead of choosing a low effort option.

761
00:37:42,120 --> 00:37:44,360
Speaker 2: That's not a bad option though. That was a smart

762
00:37:44,400 --> 00:37:48,880
Speaker 2: decision from you for a very passive investment portfolio, so

763
00:37:49,440 --> 00:37:50,480
Speaker 2: can't say you're wrong there.

764
00:37:52,400 --> 00:37:54,600
Speaker 4: Yeah, so I think they make the right decisions, but

765
00:37:55,239 --> 00:37:58,120
Speaker 4: I do sometimes choose the easier ones just to stay

766
00:37:58,160 --> 00:38:00,239
Speaker 4: in my comfort zone. So I think I could push

767
00:38:00,280 --> 00:38:02,319
Speaker 4: myself a little bit out of my comfort zone. That

768
00:38:02,400 --> 00:38:04,840
Speaker 4: might boster me up to an A plus. But I

769
00:38:04,880 --> 00:38:07,120
Speaker 4: know everybody talks about the side hustles, but I'm really

770
00:38:07,120 --> 00:38:09,920
Speaker 4: not going to do that because I'm like, working is enough.

771
00:38:10,000 --> 00:38:13,799
Speaker 2: That's so valid. Like I obviously love a side hustle, right,

772
00:38:14,000 --> 00:38:15,400
Speaker 2: Like get it, Queens.

773
00:38:15,160 --> 00:38:17,400
Speaker 4: You are obviously the Queen of side hustles in the

774
00:38:17,440 --> 00:38:18,839
Speaker 4: sense that now look at.

775
00:38:18,719 --> 00:38:20,600
Speaker 2: You, yep, and it works for me, but you know what,

776
00:38:20,640 --> 00:38:23,160
Speaker 2: it doesn't work for everybody. And I think that there

777
00:38:23,200 --> 00:38:25,360
Speaker 2: is a lot of beauty in actually having off time.

778
00:38:25,840 --> 00:38:29,399
Speaker 2: So find your niche and love it hard, and don't

779
00:38:29,400 --> 00:38:32,800
Speaker 2: feel bad when other people are doing different, because different

780
00:38:32,840 --> 00:38:37,799
Speaker 2: doesn't necessarily mean better. More money is not necessarily better lifestyle,

781
00:38:37,920 --> 00:38:41,240
Speaker 2: and enjoying your world is to me the most important thing.

782
00:38:41,120 --> 00:38:45,080
Speaker 4: But one hundred percent. I always said, you know, you

783
00:38:45,160 --> 00:38:47,680
Speaker 4: live to work or you work to live, right, and

784
00:38:47,760 --> 00:38:50,680
Speaker 4: if you're living to work, then you have to do

785
00:38:50,719 --> 00:38:53,640
Speaker 4: your passion. You can't live it any other way because

786
00:38:53,719 --> 00:38:55,440
Speaker 4: it's going to be your life and it has to

787
00:38:55,480 --> 00:38:58,719
Speaker 4: then be what you love. But if you're working to live,

788
00:38:59,040 --> 00:39:01,520
Speaker 4: you don't have to do something necessarily that you adore,

789
00:39:01,600 --> 00:39:03,200
Speaker 4: but you have to make sure that you've got time

790
00:39:03,239 --> 00:39:05,439
Speaker 4: to do things that you adore. I so love that

791
00:39:05,600 --> 00:39:07,480
Speaker 4: I choose something that I am good at and I

792
00:39:07,600 --> 00:39:10,160
Speaker 4: like it. It's not exactly my passion. I would say

793
00:39:10,200 --> 00:39:12,240
Speaker 4: that my passion is reading about one hundred and fifty

794
00:39:12,320 --> 00:39:13,200
Speaker 4: romance books a year.

795
00:39:13,600 --> 00:39:15,880
Speaker 2: Well, that's a sleigh, that's just a little bit of

796
00:39:15,920 --> 00:39:19,040
Speaker 2: a flex. She's on the Money's books were not the

797
00:39:19,160 --> 00:39:20,080
Speaker 2: romance once though.

798
00:39:20,120 --> 00:39:24,279
Speaker 4: Hey no, they kind of took it down to like

799
00:39:24,560 --> 00:39:27,719
Speaker 4: maybe one hundred and forty five romance books and stuff. Fun.

800
00:39:27,880 --> 00:39:30,240
Speaker 2: Yeah, I can see why you didn't get your brother

801
00:39:30,280 --> 00:39:32,080
Speaker 2: in law to read those to you, because it could

802
00:39:32,080 --> 00:39:35,040
Speaker 2: have gotten very awkward very quickly. But I love this.

803
00:39:35,239 --> 00:39:37,600
Speaker 2: I love this for you, and I think that's honestly

804
00:39:37,640 --> 00:39:40,880
Speaker 2: a perfect place to leave it, Money Dicet. I'm so

805
00:39:40,960 --> 00:39:44,120
Speaker 2: grateful for you and your story and you sharing a

806
00:39:44,120 --> 00:39:46,400
Speaker 2: little bit about your mum, Like it's so nice to

807
00:39:46,440 --> 00:39:48,880
Speaker 2: talk about people who aren't with us anymore. And I

808
00:39:48,920 --> 00:39:51,439
Speaker 2: think too often we just sweep it under the rug

809
00:39:51,440 --> 00:39:53,080
Speaker 2: and go, oh my gosh, you lost your mum. That's

810
00:39:53,120 --> 00:39:55,800
Speaker 2: so unfortunate. By let's change the topic of the conversation

811
00:39:55,960 --> 00:39:59,560
Speaker 2: because sometimes it can be awkward. But I can tell

812
00:39:59,600 --> 00:40:01,640
Speaker 2: you love talking about your mum. She was a brilliant

813
00:40:01,719 --> 00:40:04,120
Speaker 2: person and you've been when you talk about her, and

814
00:40:04,160 --> 00:40:06,280
Speaker 2: you deserve to talk about her more. So, I really

815
00:40:06,360 --> 00:40:09,560
Speaker 2: hope that more people around you want to have more conversations,

816
00:40:09,560 --> 00:40:12,040
Speaker 2: not like this one, but like more conversations about your

817
00:40:12,080 --> 00:40:14,400
Speaker 2: mum and about her legacy and what she's created, and

818
00:40:14,400 --> 00:40:17,560
Speaker 2: how proud of you she would be. But it has

819
00:40:17,600 --> 00:40:20,160
Speaker 2: been an absolute pleasure having I guess an hour to

820
00:40:20,200 --> 00:40:21,920
Speaker 2: sit down with you and chat and learn about you

821
00:40:21,960 --> 00:40:23,840
Speaker 2: and your life. So thank you so much for that.

822
00:40:24,160 --> 00:40:32,239
Speaker 4: Thank you. It's Beana Julight as well.

823
00:40:32,400 --> 00:40:34,960
Speaker 3: The advice shared on She's on the Money is general

824
00:40:35,000 --> 00:40:38,880
Speaker 3: in nature and does not consider your individual circumstances. She's

825
00:40:38,920 --> 00:40:42,360
Speaker 3: on the Money exists purely for educational purposes and should

826
00:40:42,400 --> 00:40:45,560
Speaker 3: not be relied upon to make an investment or financial decision.

827
00:40:45,960 --> 00:40:48,200
Speaker 2: If you do choose to buy a financial.

828
00:40:47,760 --> 00:40:51,760
Speaker 3: Product, read the PDS TMD and obtain appropriate financial.

829
00:40:51,360 --> 00:40:53,120
Speaker 2: Advice tailored towards your needs.

830
00:40:53,480 --> 00:40:57,440
Speaker 3: Victoria Divine and She's on the Money are authorized representatives

831
00:40:57,480 --> 00:40:57,920
Speaker 3: of Money.

832
00:40:57,920 --> 00:40:59,520
Speaker 2: Shepa Pty Ltd.

833
00:40:59,719 --> 00:41:02,560
Speaker 3: A E N three two one six four nine two

834
00:41:02,600 --> 00:41:05,560
Speaker 3: seven seven zero eight A F S L four five

835
00:41:05,640 --> 00:41:08,960
Speaker 3: one two eight nine