Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
Speaker 1: the Order Kerney Whoalbury and a waddery woman. And before
Speaker 1: we get started on She's on the Money podcast, I
Speaker 1: would like to acknowledge the traditional custodians of the land
Speaker 1: of which this podcast is recorded on a wondery country,
Speaker 1: acknowledging the elders, the ancestors and the next generation coming
Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
Speaker 1: and the storytelling of you to make a difference for
Speaker 1: today and lasting impact for tomorrow.
Speaker 2: Let's get into it.
Speaker 3: She's on the Money, She's on the Money.
Speaker 2: Hello, and welcome to She's on the Money the podcast
Speaker 2: and millennials who want financial freedom. Welcome back to my
Speaker 2: favorite episode of the week, money Diaries, where I get
Speaker 2: the opportunity to talk to one of our incredible She's
Speaker 2: on the Money community members all about their money story.
Speaker 2: So let's jump straight into it, because this week I
Speaker 2: got a message and it went like this. Hi Victoria,
Speaker 2: I'm a first time mum with an eight month old
Speaker 2: that works full time in the events industry. I've overcome
Speaker 2: huge spending guilt inherited from my parents' complex relationship with money.
Speaker 2: Mum was super savings conscious due to some trauma around
Speaker 2: undisclosed debt of my dad's when they got married, But
Speaker 2: my husband and I are super open and on the
Speaker 2: same page when it comes to money. I've just started
Speaker 2: my wedding celebrant business, and I know how much you
Speaker 2: love a good wedding chat too, Money Diarist, welcome to
Speaker 2: the show. You are not wrong. I would love to
Speaker 2: talk more about weddings and money stories, two of my
Speaker 2: favorite topics of this year.
Speaker 4: Yay, hello, Thank you so much for having me.
Speaker 2: Oh my gosh, I'm so excited. You are not wrong.
Speaker 2: I feel like anyone who's recently been married or is
Speaker 2: soon to be married, like I just can't get enough
Speaker 2: of this wedding conversation. Like it's literally my favorite. If
Speaker 2: I was allowed and could financially afford to have another wedding,
Speaker 2: I think I would like best day in the entire world.
Speaker 5: Absolutely, I would probably agree. There's lots of things I'd
Speaker 5: change and do differently. And yeah, working in the space
Speaker 5: now it just makes me want to do it again.
Speaker 4: A love.
Speaker 2: All right, Well, let's talk about money, because I'm so
Speaker 2: excited and I'm sure that a lot of wedding conversation
Speaker 2: will come up before we jump into the big conversation,
Speaker 2: I want to know what grade would you give your
Speaker 2: money habits on a scale from A through to F.
Speaker 4: I would probably say be minus.
Speaker 2: All right, I'm not going to ask too much about that.
Speaker 2: Let's get into the questions and we'll see where this goes.
Speaker 2: My favorite question, though, is up first, I want to know,
Speaker 2: can you tell us a little bit more about your
Speaker 2: money story?
Speaker 5: Absolutely so, It's yeah, great to hear it back. It's
Speaker 5: like listening to somebody else's story, not my own.
Speaker 2: It's a bit weird, isn't it. Everyone says that I said,
Speaker 2: Oh my gosh, my story sounds so good when you
Speaker 2: read it back.
Speaker 4: Yeah, Like that's me. So yeah. Definitely have always been a.
Speaker 5: Big saver, which I was always praised for as a child,
Speaker 5: which is great, but I think it almost made me
Speaker 5: feel like I could never spend money, Like I took
Speaker 5: that to the extreme, almost took that on as my identity,
Speaker 5: and if I sort of spent money or wanted to
Speaker 5: buy something, I always had guilt around that. So I
Speaker 5: remember vividly receiving money for birthday gifts when I was
Speaker 5: about eight years old and not wanting to spend a
Speaker 5: single cent of it. My mindset was very much like
Speaker 5: I need to save everything and spending is bad, So
Speaker 5: it's very black and white. Yeah, I didn't learn much
Speaker 5: about it's okay to like spend x amount of what
Speaker 5: I received specifically for a birthday present. When it's you know,
Speaker 5: you're eight years old.
Speaker 4: I feel like you shouldn't really be thinking like that necessarily.
Speaker 5: But yeah, I definitely took it on as my identity
Speaker 5: and was praised for it, so I thought, well, this
Speaker 5: is the thing to do to save every cent.
Speaker 2: It can't be that bad. And I mean it's funny
Speaker 2: because it goes both ways, right, Like if you're praised
Speaker 2: for something, you're just going to do more of it
Speaker 2: because you're like, oh, this is what validates me, I'm
Speaker 2: going to go down this route. And absolutely it makes
Speaker 2: a lot of sense. How did that manifest as you
Speaker 2: got older? Like, and now you've obviously got a partner
Speaker 2: and like you're managing joint finances, Like was that something
Speaker 2: that caused a lot of friction in your relationship initially?
Speaker 4: Yes? It did.
Speaker 5: So my husband is much more of a spender than
Speaker 5: I am and it did kind of freak me out.
Speaker 4: Initially, I was like, oh my gosh, like you spend
Speaker 4: so much money.
Speaker 5: For example, I have the same car from when I
Speaker 5: was seventeen. I've had the same car forever, my little
Speaker 5: twirty yars two thousand and eight.
Speaker 2: If it ain't broke down, exactly, it's my car's from
Speaker 2: two thousand and six. I stand this exactly. Good luck
Speaker 2: crying that out of my cold.
Speaker 4: Hands, Like I don't need it.
Speaker 5: You know, it works, It gets me from A to
Speaker 5: B and it's an amazing little thing. But yeah, my
Speaker 5: husband has had about twelve cars in his lifetime. He's
Speaker 5: only four years older than me. So yes, that that
Speaker 5: went away went out the window when we were together.
Speaker 5: But I feel like we've kind of balanced each other
Speaker 5: out in a really funny way. So our communication is
Speaker 5: really strong in terms of you know, before we decided
Speaker 5: to get serious, we had those conversations, and I know
Speaker 5: that's really important before getting into a relationship.
Speaker 4: And I think, because I was so.
Speaker 5: Money focused to the extreme, having those conversations with a
Speaker 5: potential future partner is really important to me. And I think, yeah,
Speaker 5: as time has gone on, we've been able to sort
Speaker 5: of balance each other out really well, where I've been
Speaker 5: able to know that spending is not as you know,
Speaker 5: you have money and it's a good thing. Like you,
Speaker 5: it's there to be spent on the things that you
Speaker 5: need and it's okay to spend money, Whereas he's learned
Speaker 5: to budget better and you know, only you know, be
Speaker 5: able to save for things rather than.
Speaker 4: Like a paycheck comes in and then spend immediately.
Speaker 5: So I think we've really balanced each other out in
Speaker 5: that way, which is a good thing, and it's something
Speaker 5: that we continue to work on every day.
Speaker 4: But I think we've got to a good point with that.
Speaker 2: You were right that you were like, we balance each
Speaker 2: other out like that makes sense now, yes, absolutely makes
Speaker 2: so much sense. I love it all right. I want
Speaker 2: to know the pervy stuff. Now tell me what do
Speaker 2: you do for it? How much money do you earn?
Speaker 5: So I work in the events industry for a government
Speaker 5: organization full time. I earn at K before tax At
Speaker 5: the moment, I'm working part time though, about twenty.
Speaker 4: Two hours a week.
Speaker 2: Just pro rada yes, correct, yeah, pro rada yeah, col
Speaker 2: rata how good? And do you have you mentioned before?
Speaker 2: You've just started your wedding celebrant business. Tell me about that.
Speaker 2: Is that an earner yet or is that just a startup?
Speaker 2: I want to know more.
Speaker 5: Yes, so it is an earner. I'm actually really surprised
Speaker 5: at how well it's been doing. So I've been making
Speaker 5: bookings for six months and I've just done my tenth
Speaker 5: wedding on the weekend.
Speaker 4: So it's oh my gosh, congrat thank you.
Speaker 2: You're in double digits now, I know.
Speaker 5: Very exciting and yeah, starting to get more comfortable with
Speaker 5: the process.
Speaker 4: Every wedding's different.
Speaker 5: It's a lot of fun and as of Yeah, once
Speaker 5: the end of financial year hits, I will have received
Speaker 5: you've thirty thousand in that business.
Speaker 2: So yeah, for how good? And you nearly almost didn't
Speaker 2: tell me that. Yes, what are you doing? Yes, I'm obsessed?
Speaker 2: How good? And is that something you mentioned before obviously
Speaker 2: in your letter in you said I'm a first time
Speaker 2: mum with an eight month old and you've got like
Speaker 2: a husband. Is that something that you want to take
Speaker 2: full time? Is this, you know, just to bring in
Speaker 2: some more cash or like what prompted you to get
Speaker 2: into a side hustle like this?
Speaker 5: Yes, I decided to do everything all at once, have
Speaker 5: a baby, work and start a business.
Speaker 2: How to go home baby.
Speaker 4: Yep.
Speaker 5: So that's been I've actually been really enjoying it. It's just
Speaker 5: juggling all the things. So when I was planning my
Speaker 5: own wedding two years ago, I didn't know that a
Speaker 5: celebrant was a thing. I'd only ever been to like
Speaker 5: church weddings and things, and I really wanted it to
Speaker 5: be like like a fun like party, kind of setting
Speaker 5: the tone for the reception. I didn't even know if
Speaker 5: that existed, and so when I was looking for young
Speaker 5: females that are celebrants, I was shocked to discover that
Speaker 5: they do exist. And Yeah, I just had such a
Speaker 5: great relationship with my own celebrant, and I kind of
Speaker 5: dawned on me. I'd always wanted to start a business,
Speaker 5: but I didn't know what I wanted to do, which
Speaker 5: always kind of was the stop sign for me. I
Speaker 5: was like, I don't know what I want to do.
Speaker 5: I know I want to do something, but I have
Speaker 5: no idea what that is. So when I had such
Speaker 5: a great relationship with my celebrant and sort of went
Speaker 5: through the process with her, I was like, Oh, I
Speaker 5: wonder if I could do this. This is pretty cool.
Speaker 5: Like even though I was pretty nervous for this, today
Speaker 5: I am comfortable speaking in public and I love to know,
Speaker 5: you know, the pervy things of like how people met
Speaker 5: and all of those things. So yeah, I just sort
Speaker 5: of decided to go ahead and jump right into it.
Speaker 2: So yeah, I would love that job. Literally, I feel
Speaker 2: like that would be so fun. Like you, I'm relatively
Speaker 2: comfortable public speaking, but I also I just love love,
Speaker 2: like I love seeing other people in love. I love
Speaker 2: talking about it. I want to know how you met.
Speaker 2: I want to know like your favorite things about your partner.
Speaker 2: I want to know all of those pervy things. So
Speaker 2: I think that that is right up my alley. And
Speaker 2: you're right celebrant honestly not to be too dramatic and
Speaker 2: makes or breaks the ceremony. And like we were so particular.
Speaker 2: We got married in November last year, and I was
Speaker 2: so particular about picking somebody that worked really well, and
Speaker 2: my husband was exactly the same, and we landed on Megan,
Speaker 2: who I'm still obsessed with, Like I still follow her content,
Speaker 2: I still interact with her. I love her like she
Speaker 2: just became such a good, you know, part of the
Speaker 2: wedding and we actually invited her to m see the
Speaker 2: rest of the wedding because I was like, I don't
Speaker 2: want that to fall on somebody else, and like, her
Speaker 2: vibe was just so good and I just knew she'd
Speaker 2: kill it that. I was like, I know you probably
Speaker 2: don't usually do this, but would you do this? And
Speaker 2: she's like, yeah, you're right, I don't, but let's do it.
Speaker 2: And so she did, and it was like the best
Speaker 2: thing ever. I could not recommend her, you know, more highly,
Speaker 2: because she just made me calm, made my husband calm
Speaker 2: and like and just did it in a way that
Speaker 2: was so us because we're not traditional and we're not
Speaker 2: that type of you know couple that wanted a church wedding,
Speaker 2: and I mean there were things that I wanted in
Speaker 2: the ceremony that made sense to me, Like I was like, okay,
Speaker 2: we need an acknowledgment of country, Like that just makes sense.
Speaker 2: We're getting married, he we're having an event. And she
Speaker 2: was just all over it and made it so easy
Speaker 2: and just it was so beautiful. So I was obsessed anyway.
Speaker 2: I could talk about weddings all day, but that is
Speaker 2: not why we are here. I want to know what
Speaker 2: are you working towards. Obviously, you're killing it as a
Speaker 2: mum of an eight month old, side hustle bringing in
Speaker 2: thirty grand. You're on fifty in your quote full time job.
Speaker 2: What's your big money goal? What are we working towards together?
Speaker 5: So we have a mortgage at the moment, so I
Speaker 5: think that's the main money goal, or that was the
Speaker 5: really main money goal for a really long time, was
Speaker 5: to buy a house, which we've done. Don't recommend moving
Speaker 5: house when you're eight months pregnant, but that's.
Speaker 4: What we decided to do.
Speaker 2: Sounds terrible, Yeah, don't do it.
Speaker 5: But big money goal would be probably to pay off
Speaker 5: the mortgage. And as I was thinking about this question
Speaker 5: a little bit more, I feel like that's a very big,
Speaker 5: long term goal and I should probably think.
Speaker 4: More about a big goal. But that's not that big.
Speaker 5: Just to kind of tourne it down a little bit,
Speaker 5: something that I do want to do is invest a
Speaker 5: little bit more. That's something that now that we do
Speaker 5: have the mortgage and we paid for the deposit, I'm
Speaker 5: keen to get my teeth stuck into a bit more investing.
Speaker 2: So yes, I love that. I want to know more
Speaker 2: about it, though, what would it mean to pay off
Speaker 2: your mortgage. So what does that currently look like? And
Speaker 2: like what would paying off your mortgage get you apart
Speaker 2: from owning a house outright.
Speaker 5: I think the financial pressure probably of like you know,
Speaker 5: currently everyone's talking about the interest rates and all of
Speaker 5: those things, just the pressure around that. I'd love to
Speaker 5: be in a position potentially with my business or you
Speaker 5: know what. I'm sort of building up towards to be
Speaker 5: in a position where, yeah, the mortgage wasn't such a big.
Speaker 4: Thing or like a stressful thing.
Speaker 2: I like that. I feel like so many times I
Speaker 2: talk to people and they say, we just want to
Speaker 2: pay off the mortgage. I didn't go yeah, why, They're like, oh,
Speaker 2: so we can own a house outright, And I'm like, yes,
Speaker 2: but like let's think about why we might want that
Speaker 2: and what that means. And I feel like diving a
Speaker 2: little bit deeper into what you said before you were
Speaker 2: like taking off the pressure and you know, maybe investing.
Speaker 2: I think that right now is probably a very big
Speaker 2: season in your life. You've had a baby, you've probably
Speaker 2: taken some significant time off, There's a lot going on
Speaker 2: where financial pressure would probably be really loud in your life.
Speaker 2: So I feel like it's a good goal. I really
Speaker 2: like it. But you're right. I think having smaller goals
Speaker 2: along the way so that we're enjoying the journey is
Speaker 2: also very recommended. Before we continue our chat, though, let's
Speaker 2: go to a really quick break because on the flip side,
Speaker 2: I want to talk about investments and debt, how much
Speaker 2: that mortgage actually is, and your best and your worst
Speaker 2: money habits, So guys, do not go anywhere. All right,
Speaker 2: money Diaris, We are back, and I want to know
Speaker 2: you mentioned before you have a mortgage, which can be
Speaker 2: an investment, but do you currently have any investments? If so,
Speaker 2: what are they?
Speaker 5: Yes, so I have amount five thousand in ETFs current.
Speaker 2: That's a big amount. What are you talking about?
Speaker 4: Yeah, I suppose it is. It is. It's a big amount.
Speaker 2: She's chunky like that's good.
Speaker 4: Yeah, yeah, I think it's. Yeah, it's that mindset thing.
Speaker 5: Definitely. You'll probably see the theme of that mindset of
Speaker 5: that money guilt. It definitely still yeah pops its head
Speaker 5: up every now and then.
Speaker 2: So how did you decide that that was the right
Speaker 2: I guess asset class for you and get started on
Speaker 2: your journey? Like what did that mean? And how did it.
Speaker 5: Work absolutely, So I started using spaceship first. I was
Speaker 5: on there for a little bit, which I think helped
Speaker 5: my confidence with investing. I was really hesitant initially because
Speaker 5: I didn't know very much about it.
Speaker 4: I didn't grow up learning about it.
Speaker 5: But after listening to ses on the Money, I started
Speaker 5: to get a little bit more confident about, Oh, like.
Speaker 4: Investing can be really cool.
Speaker 5: Yeah, opportunity to have my money work for me rather
Speaker 5: than just sitting in my savings camp. So yeah, I
Speaker 5: started playing on there initially and then got my confidence up.
Speaker 5: I'm quite risk, so I thought an ETF instead of
Speaker 5: doing into like one specific company for example, would be
Speaker 5: the next logical step for me personally. So yeah, I
Speaker 5: had to look into some ETFs and chat with my
Speaker 5: husband as well about you know, what he wanted to
Speaker 5: do and all of that. So this is sort of
Speaker 5: a joint thing that we're doing together at the moment.
Speaker 5: So yeah, five thousand felt safe for me to start with.
Speaker 4: And yeah good. Yeah, So it's been good.
Speaker 5: I've I've had a really positive experience with it and
Speaker 5: looking forward to doing more of it now that we've
Speaker 5: bought our first house.
Speaker 2: So love, I want to know more about that though
Speaker 2: you said you picked an ETF. In our community, there
Speaker 2: are always lots of questions about how do I pick
Speaker 2: the right ETF for me? What process did you follow? Like,
Speaker 2: how did you want? You obviously decided and ETF makes sense? Great?
Speaker 2: How did you pick which one made sense for you? Yes?
Speaker 4: Great question.
Speaker 5: So I tracked how an ETF had been doing for
Speaker 5: like the course of its life, I suppose, so for
Speaker 5: five years. I sort of had a look how it
Speaker 5: was going, which really comforted me to know, these things
Speaker 5: go up and down and it's okay. That's the way
Speaker 5: that things happen. It's going to be that way and
Speaker 5: it's fine. And something that you've said that really helps
Speaker 5: me is not to look at it every day, for example,
Speaker 5: and be like.
Speaker 4: Oh my gosh, like it's lower, I've lost.
Speaker 5: X amount of money, but to know, okay, I've popped
Speaker 5: five thousand in there and that's what it is.
Speaker 4: But you know it's going to fluctuate and that's okay.
Speaker 5: But in picking the one that I did, I did
Speaker 5: a lot of research about To be completely transparent, I
Speaker 5: feel like I still have so much to learn.
Speaker 2: No, we're not expecting that at all. I just want
Speaker 2: to know one of our community members journeys because it
Speaker 2: is so challenging to pick and I feel like we
Speaker 2: all get analysis paralysis. And the more I can hear
Speaker 2: how you picked it as somebody in our community that's
Speaker 2: not a financial advisor, how did you do that? Because
Speaker 2: lots of people are going to listen to this and
Speaker 2: be like, yeah, I felt this too, or yeah, I'm overwhelmed.
Speaker 2: Oor oh my gosh, I've been looking at that one.
Speaker 2: Maybe I'll have another look at it. So I think
Speaker 2: it's it's important.
Speaker 4: Absolutely, yes.
Speaker 5: So I was looking at a few different ETFs on
Speaker 5: self wealth so that you can see like the graph
Speaker 5: of everything, and this one felt like the safest option.
Speaker 5: So don't very much about it, but it felt like
Speaker 5: a safe option and I've been happy with it so far.
Speaker 4: So yeah, that's how I picked.
Speaker 2: How good? No, I love hearing more about that. It's
Speaker 2: literally my favorite to be super pervibi but how but
Speaker 2: how where It's just I feel like we learn so
Speaker 2: much as a community through shared experiences and it doesn't
Speaker 2: matter how many podcasts I do on what an ETF
Speaker 2: is and what might be the top performing ones and
Speaker 2: why you'd pick one and what fees look like I
Speaker 2: feel like so many times the feedback we get from
Speaker 2: our community is they learn the most from shared experiences,
Speaker 2: which I totally understand. But that's why I'm always like, hey,
Speaker 2: tell me, tell me. We need to know. I want
Speaker 2: to know. Now though, you mentioned a mortgage, So the
Speaker 2: answer is, yes, you do have debt. Yes, what are
Speaker 2: your debt levels?
Speaker 1: Like?
Speaker 2: What do they look like?
Speaker 4: Sure?
Speaker 5: So the mortgage that we have at the moment I
Speaker 5: checked is five hundred and eighty seven thousand, so quite
Speaker 5: a big call.
Speaker 2: What did you purchase your property for? We need to know.
Speaker 5: Yes, we purchased the property for seven hundred and one
Speaker 5: thousand dollars.
Speaker 2: Oh, go good. Why won seven hundred and one? Where
Speaker 2: did that come from? Did you get in a bidding
Speaker 2: war with someone in an opho?
Speaker 4: It's actually a funny story.
Speaker 5: So my husband the range was seven hundred to seven seventy.
Speaker 5: My husband offered six eighty five. They said, no, they
Speaker 5: have another offer. The highest offer that they had was
Speaker 5: six nine nine, seven fifty. So he said seven hundred
Speaker 5: and then they said no, it needs to be higher,
Speaker 5: and he said seven hundred and one, and they accepted it.
Speaker 4: They did, They did, they did?
Speaker 2: How good is that. I love the audacity on him
Speaker 2: being like, all right, you can have another thousand. You
Speaker 2: get what you get.
Speaker 4: M He was very proud of himself.
Speaker 2: No, I love that. I'm proud of him too. I'm obsessed.
Speaker 2: I think that's so fun. I want to know, though,
Speaker 2: how much deposit did you have and how long did
Speaker 2: it take you to save?
Speaker 5: Yes, so this is our second house. So yeah, we
Speaker 5: purchased a property.
Speaker 2: Fancy pans.
Speaker 5: So when I say second house, we don't. We sold
Speaker 5: our first house and then we purchased this place.
Speaker 2: So I still fancy she's had a property journey.
Speaker 5: Yes, So we purchased our property, our first property in
Speaker 5: twenty twenty when it was very very low, and we decided,
Speaker 5: let's buy a house, so we did, and then that's
Speaker 5: when the interest rate was really low. At the house
Speaker 5: that we purchased initially was I want to say, five
Speaker 5: hundred and twenty thousand, and then we were able to
Speaker 5: sell that and we made a profit of one hundred K.
Speaker 5: So that then helped us with this God, yeah, which
Speaker 5: is crazy.
Speaker 2: How quickly did you so if you bought that in
Speaker 2: twenty twenty, did you sell it when we sold.
Speaker 4: It in twenty twenty two.
Speaker 2: Oh my gosh, you made a hundred krag prop.
Speaker 4: What I know, I know, crazy, So I should I
Speaker 4: put that in my little intro.
Speaker 2: That's interesting when I asked you the questions, I asked
Speaker 2: my friend.
Speaker 5: So, yeah, we were shocked that that was the case.
Speaker 5: Money win, Yeah, money win for sure, and you held it.
Speaker 2: For more than twelve months, which means you didn't lose
Speaker 2: all of that on capital gains tax was six month correct, correct?
Speaker 5: And we actually ended up contacting our real estate agent
Speaker 5: and being like, hey, the person that we purchased the
Speaker 5: property from initially, and they said, oh, like, I actually
Speaker 5: have somebody that is interested in buying it for the
Speaker 5: price that we wanted.
Speaker 4: So we didn't have to pay any fees, like in
Speaker 4: terms of real estate fees and all of that advertising.
Speaker 5: So it just worked out really, really well, which is
Speaker 5: great because I was quite heavily pregnant at the time
Speaker 5: and I was like, what are we.
Speaker 2: Doing over and out.
Speaker 5: Yes, yes, so now we've moved closer to family, which
Speaker 5: is really lovely, and yeah.
Speaker 4: That helped us with the deposit as well.
Speaker 5: So in selling that property we were able to I
Speaker 5: believe we did ten percent, so yeah, seventy seventy seventy
Speaker 5: k yeah, ten percent.
Speaker 2: Yeah, yeah, that would make sense. And did you have
Speaker 2: the help of a broker to do that or did
Speaker 2: you dydy Yeah, very very cool. All right, I have
Speaker 2: another question. I'm so obsessed with this. I feel like
Speaker 2: you have so many good money habits, and like, honestly,
Speaker 2: my friend, I'm already questioning why you gave yourself a
Speaker 2: b minux, but we will talk about that after these questions.
Speaker 2: I want to know, as a savvy saver, what is
Speaker 2: your best money habit.
Speaker 5: I feel like I'm very good at putting aside. So
Speaker 5: when a paycheck comes in, I divvy up my fund.
Speaker 5: So I use up bank, which I just adore, and
Speaker 5: I can split out. It's really fun to use. It's
Speaker 5: really pretty, and I have different accounts.
Speaker 2: We love an esthetic exactly.
Speaker 4: It's so good.
Speaker 5: So, yeah, I've got my bills account, I've got my
Speaker 5: savings account, I've got my what other accounts do I have,
Speaker 5: like tax account, all of that. So I've got all
Speaker 5: the things there and I just sort of, yeah, it's
Speaker 5: really fun.
Speaker 4: When I get my pay in, I just.
Speaker 5: Feel like I have a good system of like this
Speaker 5: is where things go, so I haven't automated it, but
Speaker 5: I also feel like it's kind of my Maybe I'm weird,
Speaker 5: but it's like my reward to like put things in
Speaker 5: their places and have my little fun money account for
Speaker 5: them that night.
Speaker 1: That.
Speaker 2: Yeah, so you see being able to do your budget
Speaker 2: every month as a reward?
Speaker 4: Yeah, is that weird?
Speaker 2: Probably? No, No, it's not that weird. There's no such
Speaker 2: thing as weird in money. I just happen to do
Speaker 2: my budget and then give myself a reward for doing
Speaker 2: the budget. So, like, we are definitely different people, but
Speaker 2: I really respect that, and I think that that is
Speaker 2: how I should see it. And maybe, just maybe I
Speaker 2: would have been able to buy a house sooner if
Speaker 2: I had the same mindset as you.
Speaker 4: I don't know.
Speaker 5: Sometimes it does stress me out, but for the most part,
Speaker 5: I'm like, yay.
Speaker 2: I got paid.
Speaker 4: Like, let's start allocating.
Speaker 2: I love no. I want everybody in our community to
Speaker 2: be as passionate about being able to do their budget
Speaker 2: as Yeah.
Speaker 4: I love it.
Speaker 2: I love it, love love love. Let's flip it, though,
Speaker 2: Let's bring this conversation back down and humble you. What's
Speaker 2: your worst money habit?
Speaker 4: My worst money habit?
Speaker 5: Is that those restrictive habits still linger sometimes, so in
Speaker 5: terms of doing that budget, I'll be like, oh, yeah, like,
Speaker 5: I'll put one hundred dollars in my fun money account
Speaker 5: for two weeks and i put way more in my
Speaker 5: bill's account because I'm like, I have to be careful,
Speaker 5: So I'm very like worst case scenario, rather than like, oh,
Speaker 5: it's actually okay to like put a little bit more
Speaker 5: into or I like will save more than I need to, like,
Speaker 5: and then I'll start dipping into things that I don't
Speaker 5: need to. So I need to be more generous to myself.
Speaker 5: Maybe that's the right word. I need to allow my
Speaker 5: like it's okay to spend more and you've got enough
Speaker 5: in your bills account at this amount, like you don't
Speaker 5: have to overdo it.
Speaker 1: Yeah.
Speaker 2: No, that makes a lot of sense. I feel like
Speaker 2: I fully expected you to say that that was your
Speaker 2: worst money habit, not because you'd identified it already, but
Speaker 2: often when I have people in our community that I
Speaker 2: get to talk to about their you know, money habits,
Speaker 2: and they say, oh, I'm a really good saver and
Speaker 2: I've always been a saver. And at the start of
Speaker 2: this conversation, you said, oh, like it kind of became
Speaker 2: a personality trait, like it became part of me, like
Speaker 2: I identified that way. Often people in those circumstances find
Speaker 2: the restrictive habits are I guess number one for them,
Speaker 2: because obviously that's what gets you to become a really
Speaker 2: good saver, right restriction, But then on the flip side,
Speaker 2: it can actually be a little bit negative. The next
Speaker 2: question I've got, which is my favorite, lucky last question, is,
Speaker 2: now that we've talked, what grade would you give your
Speaker 2: money habits from an A through to an F? You
Speaker 2: gave yourself for B minus at the start? After talking,
Speaker 2: after reflecting on all of this, how's that feel? How
Speaker 2: does it fit?
Speaker 5: Probably feels like I'm not being very generous to myself
Speaker 5: if we go back to that word.
Speaker 2: I couldn't agree more. Why is that?
Speaker 5: I think, considering my money habits are quite good.
Speaker 4: I'm making my grade lower than what it.
Speaker 5: Probably should be because I feel that I'm quite restrictive.
Speaker 5: But in terms of the actual money habits itself, I
Speaker 5: do have great systems in place and it's working really
Speaker 5: well for me. And I'm looking back, I can see
Speaker 5: that I've achieved the goals that I've set, so yeah,
Speaker 5: probably at least an a minus.
Speaker 4: Maybe.
Speaker 2: I love this. I like the reflection, I like the
Speaker 2: left room for improvement. I think it's just it's so interesting.
Speaker 2: I guess setting a term of reference at the start
Speaker 2: and then getting to revisit it at the end because
Speaker 2: I think it's a good I guess learner, because do
Speaker 2: you know what I know. I know that they're going
Speaker 2: to be people and hi friends. You're in the car
Speaker 2: and you're listening to this Money Diary and you heard
Speaker 2: b mins and you're like, yere okay, noorries and you
Speaker 2: start listening and you're like, no, that's such a good
Speaker 2: money habit. No, this is great, No, that is great.
Speaker 2: Oh she's investing, she's got a house, she's sold a house.
Speaker 2: You sold a house. I'm got one hundred grand profit.
Speaker 2: My gosh. She's like so confident. She started her own business.
Speaker 2: Like they're yelling at the TV basically being like, excuse me,
Speaker 2: Money Diarist, but you're absolutely killing it. But I think
Speaker 2: it's such a good reflection point because we all have
Speaker 2: our own journeys and they're not benchmarked against other people's journeys.
Speaker 2: They're benchmarked against our own expectations. And learning that you
Speaker 2: are such a saver. It makes sense that you're like, oh,
Speaker 2: my restrictive habits are this that the other, and I
Speaker 2: don't think I'm doing as well as I could. It's
Speaker 2: such a type let's call it type money saver trait
Speaker 2: to go. It's not good enough, it's not good enough
Speaker 2: when in reality you're actually killing it, and you need
Speaker 2: to give yourself a little bit more credit or to
Speaker 2: your language, a little bit more generosity, like you need
Speaker 2: to be kinder to yourself, my friend, because you're absolutely
Speaker 2: killing it and I love it. Would it take, though,
Speaker 2: to get you to an A plus? What do you
Speaker 2: think you could do in your own mind that would
Speaker 2: mean that you, you know, confidently would be like, yeah,
Speaker 2: I'm actually an A plus at money.
Speaker 4: I'd love to learn more about investments.
Speaker 5: That's the next sort of thing that I'd love to
Speaker 5: just feel a bit more confident with. You mentioned decision
Speaker 5: paralysis or analysis paralysis earlier. I feel like I do
Speaker 5: fall into that category and had to just sort of
Speaker 5: dive right in to get that experience. So I'm yeah,
Speaker 5: looking forward to going on that journey a little bit more.
Speaker 5: And yeah, I think just the restrictive sort of mindset stuff.
Speaker 5: I would love to be able to shake.
Speaker 4: A little bit more.
Speaker 5: And I think now having a baby as well has
Speaker 5: helped me realize, like, yeah, you've got to spend money
Speaker 5: to like, you know, provide and all of that. And
Speaker 5: like the money that I'm making is able to provide
Speaker 5: for my family now, So I do see that my
Speaker 5: mindset is shifting in that way as well.
Speaker 2: Yeah, I love it, Oh my gosh. And do you
Speaker 2: know what my favorite part about that? It's all so achievable,
Speaker 2: Like none of that is beyond you know, what your
Speaker 2: capability is or what you can achieve. All of that
Speaker 2: is so capable and so like a che I love it.
Speaker 2: I love it so much. Oh my gosh, money. I
Speaker 2: wish we had all day to talk, but unfortunately that
Speaker 2: is all we have time for today. So thank you
Speaker 2: so much for joining us. I have absolutely loved this.
Speaker 2: I wish that we could talk weddings all day though,
Speaker 2: Like there should be more wedding chat in this So
Speaker 2: thank you so so much for sharing your very gorgeous
Speaker 2: story with our community. We love it.
Speaker 4: Thank you so much for having me.
Speaker 3: The advice shared on She's on the Money is general
Speaker 3: in nature and does not consider your individual circumstances. She's
Speaker 3: on the Money exists purely.
Speaker 2: For educational purposes and should not be relied upon to
Speaker 2: make an investment or financial decision. If you do choose
Speaker 2: to buy a financial product.
Speaker 3: Read the PDS TMD and obtain appropriate financial advice tailored
Speaker 3: towards your needs. Victoria Divine and She's on the Money
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