Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yor
Speaker 1: the Order Kerni Whaltbury 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. She's on the Money.
Speaker 3: She's on the Money.
Speaker 4: Hello, and welcome to She's on the Money, the pod
Speaker 4: that lets you be pervy about other people's money habits.
Speaker 2: For educational purposes of course.
Speaker 4: Welcome back to another one of our money days where
Speaker 4: we get the absolute pleasure of sitting down and chatting
Speaker 4: with one of our incredible She's on the Money community members,
Speaker 4: all about their journey. Let's jump straight into it, because
Speaker 4: this week I got a message and it sounded exactly
Speaker 4: like this high She's on the Money. Growing up with
Speaker 4: a single mum in a low socioeconomic area, money was
Speaker 4: always toxic arguments, borrowing and never having enough shaped my
Speaker 4: determination to break the cycle. After years of hard work,
Speaker 4: study and climbing the career ladder and breaking some bad
Speaker 4: credit card habits, my husband and I hit a combined
Speaker 4: income of over two hundred thousand dollars. It seemed like
Speaker 4: we had everything we'd ever wanted. But when our kids arrived,
Speaker 4: everything changed. We made the bold decision to step back,
Speaker 4: trade career ambition for family time and prioritize what truly matters.
Speaker 4: We might not have as much money, but we can
Speaker 4: still buy baby Chinos and that's more than enough for us.
Speaker 2: Money, Doris, I just.
Speaker 4: Feel it in my bones. This is going to be
Speaker 4: such a sweet money diary.
Speaker 2: Hello, thank you so much for having me.
Speaker 4: Oh my gosh, I am so excited about this. Before
Speaker 4: we dive in money, Doris, if I asked you to
Speaker 4: give your money habits a grade from A three to F,
Speaker 4: what grade would you give them?
Speaker 2: I would say, I am a solid b oh, a
Speaker 2: solid bee.
Speaker 4: We love to see it. But more than that, I
Speaker 4: love to ask people more about their money story. So,
Speaker 4: money Dory, can you give us a little bit more
Speaker 4: insight into your money story?
Speaker 2: Yeah? Absolutely, So I feel like you touched on a
Speaker 2: lot of it already. But I grew up with a
Speaker 2: single mom and an older sister in a very low
Speaker 2: socioeconomic area, so we never went without, but everything was
Speaker 2: hard to come by, I suppose to put it easily.
Speaker 2: So Mum was always, you know, working really hard to
Speaker 2: try to find where we were going to get money
Speaker 2: for groceries and new school books and shoes, and how
Speaker 2: we were going to pay for school excursions and everything
Speaker 2: like that. So money was always an argument. So whether
Speaker 2: Mum was having disagreements with family members about like wanting
Speaker 2: to borrow money off them, or whether we were kind
Speaker 2: of having arguments about how much a loaf of bread
Speaker 2: would cost because we'd get sent into the shops with
Speaker 2: three dollars but bread was on special last week, so
Speaker 2: whereas the twenty cents change, because every cent madded, it
Speaker 2: was really really tricky. So I saw a lot of
Speaker 2: the stress that my mum was under when it came
Speaker 2: to anything money related, and that was really hard to see.
Speaker 2: So my sister, when she turned fourteen to nine months,
Speaker 2: she got her first job and she started helping support
Speaker 2: the family as well. So I figured that I would
Speaker 2: do my part. So if I got money once a
Speaker 2: week for tuch shop or something like that, I actually
Speaker 2: just wouldn't eat at school that day, and I'd save
Speaker 2: the money and i'd have like a little squirrel funds
Speaker 2: just in case, like we ran out of milk or
Speaker 2: toilet paper or something, so I could be like I'm helping.
Speaker 4: Oh my god, my heart. That is literally equally the
Speaker 4: sweetest and most heartbreaking thing ever, Like, oh, like your
Speaker 4: little heart is so pure.
Speaker 2: I know. And that's the thing is that, like when
Speaker 2: you're a kid, you just want to see the best
Speaker 2: in every situation and kind of do everything to help.
Speaker 2: Like Mom found out and she was mortified that I
Speaker 2: like had been going without food and she's.
Speaker 4: Like, where did you get this money from?
Speaker 2: Yeah? Is that what happened?
Speaker 4: Like she found it and was like where is this money?
Speaker 4: Like how did you get this?
Speaker 2: Yeah? And I was like I've been saving it, Like
Speaker 2: what are you talking about? And You're like, you don't
Speaker 2: have a job, how are you saving it from? Where?
Speaker 2: From where? Yeah? So that was kind of you know,
Speaker 2: how it was to grow up around money. It was
Speaker 2: always really hard to come by, and when you did
Speaker 2: have it, it went really quickly, and if you didn't
Speaker 2: have it, it was really stressful and cause a lot
Speaker 2: of arguments.
Speaker 4: Wow, And how did that translate as an adult now?
Speaker 4: Because I feel like that would make you avoidant as
Speaker 4: you grow up of talking about money and feeling like,
Speaker 4: I don't know, I immediately assume that if your husband was like, oh, money, Doris,
Speaker 4: can we talk about money, You'd be like, ah, like no,
Speaker 4: thank you, even if it was a good thing. So
Speaker 4: when did you get your first job? When did you
Speaker 4: start earning your own money? How did that feel all
Speaker 4: of those things?
Speaker 2: Yeah? Absolutely, So that's exactly how it kind of translated.
Speaker 2: So straight out of high school. So I graduated at seventeen,
Speaker 2: I was straight into my first full time job, and
Speaker 2: I was adamant that I never wanted to be that
Speaker 2: like poor kid and I hate using that word, but
Speaker 2: I was always just like I didn't want people.
Speaker 4: But that's a feeling, and I feel like that's something
Speaker 4: a lot of people are probably able to resonate with.
Speaker 2: Yeah, So I feel like I didn't want anyone to
Speaker 2: ever think that I didn't have enough money or that
Speaker 2: like I was struggling, Like it was just so uncomfortable
Speaker 2: for me to ever talk about. So I got my
Speaker 2: first full time job straight out of high school the
Speaker 2: day that I turned eighteen. So the office I worked
Speaker 2: in was right above one of the big four banks.
Speaker 2: So on my eighteenth birthday, I left work and on
Speaker 2: my lunch break, I went downstairs and I got a
Speaker 2: personal loan to a perfect buyer car yup, and I
Speaker 2: signed up for a credit card.
Speaker 4: Oh yeah, why not go with both? Honestly, they probably
Speaker 4: allowed it.
Speaker 2: Do you know what, go big or go home? I say,
Speaker 2: one hundred percent? And then I toddled myself down to
Speaker 2: like a phone company, and I signed myself up for
Speaker 2: one of the new smartphones on a plan. So I
Speaker 2: was just gonna have like, oh, you were live in large.
Speaker 2: I had the image like nobody would ever look at
Speaker 2: me and think that I was earning like sixteen dollars
Speaker 2: an hour, Like it was atrocious. I can't believe still
Speaker 2: that they even gave me alone.
Speaker 4: That's actually how I feel about my personal loan that
Speaker 4: I got, Like how did you give somebody like I
Speaker 4: was in my early twenties, but how did you give
Speaker 4: me a forty thousand dollar loone? It was obviously a
Speaker 4: linked credit card? Like how like whose idea was.
Speaker 2: That it's honestly terrible. And I look back on it
Speaker 2: and it's like, if I just could tell little me
Speaker 2: one thing, it would be like, do not borrow money,
Speaker 2: Like do not go get alone, because you just put
Speaker 2: so much faith in the people that are giving you
Speaker 2: the loan, that they've crunched the numbers and their comfy
Speaker 2: that you can pay it back, and you just like
Speaker 2: to see the best in everyone. And I think because
Speaker 2: I was borrowing money from someone and for the first
Speaker 2: time in my life, it wasn't an argument, like they
Speaker 2: were so happy to give me money, and I was like, oh, it.
Speaker 4: Must be good, right, And it feels official right, Like
Speaker 4: it feels legit because it's at the bank. It's not
Speaker 4: like your aunt or your mum or somebody close to you.
Speaker 4: I feel like there's that level of legitimacy that makes
Speaker 4: you feel safe even though you shouldn't.
Speaker 2: Absolutely absolutely yeah. So by the time I was twenty,
Speaker 2: I was about thirty thousand dollars in debt. So I
Speaker 2: had a twenty thousand dollars car debt and about jashi
Speaker 2: of ten thousand dollars on a personal credit card. So
Speaker 2: from their a few little job changes. I feel like
Speaker 2: where I went wrong was that at no point was
Speaker 2: I like, oh, I can't afford the way that I'm living,
Speaker 2: I should really dial it back. I was like, I
Speaker 2: can't afford the way that I'm living. I should get
Speaker 2: a new job and earn more money. So the more
Speaker 2: money I earned, the more I spent, the more I spent,
Speaker 2: the more debt. It was terrible, a vicious cycle. So
Speaker 2: I ended up moving into state, to a big capital
Speaker 2: city for a job that was earning a lot more
Speaker 2: than I was on. But with that came again the
Speaker 2: lifestyle creep and now trying to keep up with a
Speaker 2: whole new crowd of people that were earning more money,
Speaker 2: and so it was pretty bad. Actually. So from there
Speaker 2: I met my now husband.
Speaker 4: Okay, you how did you meet?
Speaker 2: So we did things a little bit backwards. Actually he
Speaker 2: was one of my housemates, so we were living together.
Speaker 4: That could have been so bad, that could have worked
Speaker 4: out not well.
Speaker 2: No, and I kind of figured that. I mean, worst
Speaker 2: case scenario, you just move out and smoke bomb. Right,
Speaker 2: Oh yeah, sure, yep, yep perfect.
Speaker 4: I feel like you're not the first money Darris who
Speaker 4: has ended up marrying their housemate, though yes.
Speaker 2: I mean I guess you get to try before you
Speaker 2: buy and money win.
Speaker 4: Yeah, great, and you genuinely saw if he was actually
Speaker 4: unloading the dishwasher and stuff, like what is this guy
Speaker 4: like at home?
Speaker 2: Absolutely?
Speaker 4: Yeah, it does get rid of the magic of like
Speaker 4: those first few months getting to know each.
Speaker 2: Other one hundred percent. And it was funny because I
Speaker 2: feel like, to kind of sum up our relationship as well,
Speaker 2: he's like so straight to the point, honestly one of
Speaker 2: the nicest people I've ever met. But because we were
Speaker 2: already living together, I was like, is this a relationship
Speaker 2: of convenience? Like do you actually like me?
Speaker 4: I mean, I'm glad you were thinking that way.
Speaker 2: Yeah. So we like, I had a bit of a
Speaker 2: meltdown one day and I was like, I feel like
Speaker 2: you're only with me because it's easy, and he just
Speaker 2: looked at me, like dead in the eye, and he
Speaker 2: was like, oh, babe, like there is nothing easy about
Speaker 2: being with you. I mean, tell me how it really is.
Speaker 2: I mean I think that I feel more secure now,
Speaker 2: but also.
Speaker 4: Like Brooch, I'm also very insecure about a number of
Speaker 4: other things now.
Speaker 2: Thank you for shifting that.
Speaker 5: Yeah.
Speaker 2: So I met him and he he was quite the
Speaker 2: opposite to me, where came from very humble beginnings as well.
Speaker 2: But he was really secure in himself and had really
Speaker 2: good money habits, a really good relationship with money. So
Speaker 2: he worked hard, he saved hard, but he was also
Speaker 2: happy to spend on things that were important to him.
Speaker 2: So he taught me quite a lot about how to
Speaker 2: get out of that like a vicious just consumer debt cycle.
Speaker 2: Oh I love this. Yeah, it was really really sweet.
Speaker 2: So we got engaged. We decided that when we got
Speaker 2: married we were going to share our finances anyway. And
Speaker 2: he sent me down one day and he was like, look,
Speaker 2: you're spending so much money on interest for your credit card.
Speaker 2: I've got the money that we're going to be joining
Speaker 2: money anyway. Why don't we just pay off your credit
Speaker 2: card in full and then you can pay me back
Speaker 2: without the interest. Oh that's so sweet. And I was like,
Speaker 2: absolutely not. I don't need no man.
Speaker 4: Right, Okay, So that's exactly how I would have responded
Speaker 4: to But like, in theory, that is very kind of him.
Speaker 2: But then I also grasped that maybe like this was
Speaker 2: maybe it's a joint decision. Now, Yeah, we were going
Speaker 2: to be in it. We were going to be sharing
Speaker 2: the burden anyway, so let's just get it done. So
Speaker 2: I paid off my credit card and then I paid
Speaker 2: him back every single center of it in nine months.
Speaker 4: Oh queen, do you feel like I put more pressure
Speaker 4: on you to paid off too now that it was
Speaker 4: like with your partner instead of a bank.
Speaker 2: Yes, but I feel like it was good pressure because
Speaker 2: it was like going to him. But then I also
Speaker 2: knew that I wasn't just going to keep racking up
Speaker 2: more debt knowing that I owed someone, Like I hate
Speaker 2: owing anybody money for any reason unless it's.
Speaker 4: No I am now the same, Like I do not
Speaker 4: like owing people money, and it's something I won't say
Speaker 4: I struggle with, but like even if other people are like, oh,
Speaker 4: buy your coffee v I'm like, oh, no, that's fine.
Speaker 4: I'd actually prefer to BUYE to and by yours, so
Speaker 4: that I literally owe nobody anything. Like I don't know
Speaker 4: what that weird complex is, but I just know where
Speaker 4: it comes from, and it comes from being in that
Speaker 4: situation before and just being like, I just don't want
Speaker 4: anybody to laud anything over my head, and I'm grateful
Speaker 4: that I'm in the financial position that I can do that,
Speaker 4: but like I don't want to owe you. Sorry, Like
Speaker 4: if we go out for lunch, I'm more likely to
Speaker 4: try and pay the whole bill instead of you paying it,
Speaker 4: because I would hate to think that I either owe
Speaker 4: you money for lunch or you're like, oh no, you'll
Speaker 4: get it next time. No, no, no, I just just
Speaker 4: let me pay thanks by weird complex.
Speaker 2: Absolutely, I'm exactly the same, Like I know, down to
Speaker 2: the cent. If I owe someone money and I can't sleep,
Speaker 2: like it could be two dollars, it could be two
Speaker 2: hundred dollars, and I will not sleep until I have
Speaker 2: paid off my debts.
Speaker 4: No, I can resonate like that. Just it's so frustrating,
Speaker 4: isn't it. And you're like that person doesn't even care.
Speaker 2: I know, right, and like you could owe me all
Speaker 2: the money in the world. I'm like, honestly, it's fine,
Speaker 2: Like I know we'll get there one day. You do you,
Speaker 2: but you are me, So tell me what did that
Speaker 2: look like?
Speaker 4: You got married, you had some babies.
Speaker 2: Yeah, we got married, We had babies. I studied full
Speaker 2: time at UNI, while I was working full time, while
Speaker 2: I was planning a wedding. It was full on. I
Speaker 2: honestly don't know where I got the energy from. Like
Speaker 2: your twenties were just something different. Yeah.
Speaker 4: I actually people always like how did you do it?
Speaker 4: And I'm like, delusion, babe, delusion, Like I think I
Speaker 4: was high on it. I couldn't do it. Now, how
Speaker 4: did I do what I did? I don't know.
Speaker 2: I don't know, honestly. I feel like if I've gone
Speaker 2: for a walk in the morning, I just don't even
Speaker 2: have energy to like unload the dishosher that day. Too
Speaker 2: many tasks, yeap, relatable queen. Yeah, so I worked really hard.
Speaker 2: I got like my dream career job, we got married,
Speaker 2: we bought our first home.
Speaker 4: She's ticking all of the boxes when it comes to
Speaker 4: little achievements that people often set for themselves.
Speaker 2: It was lovely, and it was all by the age
Speaker 2: of twenty five. Okay, I know. Nope, I mean it's
Speaker 2: downhill from there.
Speaker 4: I picked early, Okay, a right, so make us feel
Speaker 4: better about you.
Speaker 2: Yeah, no, she picked early. But yeah, so it was good.
Speaker 2: And then we hit that sneaky little pandemic that happened.
Speaker 4: Oh yeah, the panini.
Speaker 2: Yeah, the panini. Yeah, and then everything kind of changed
Speaker 2: from there. What changed? How did it change. So we
Speaker 2: had my son. He was one of the COVID Bobies,
Speaker 2: so born during the lockdowns, and I had this new
Speaker 2: kind of sense of really needing to be near my family.
Speaker 2: And I could have sworn I would have never heard
Speaker 2: myself say those words, right, Like, I moved into State
Speaker 2: for a reason and I needed my space. And then
Speaker 2: I had my son and I was.
Speaker 4: Like, now you're like, let's just change this script.
Speaker 2: Yeah. So we had bought our house in February twenty
Speaker 2: twenty and by October twenty twenty one we had sold
Speaker 2: and were moving into State to be closer to my family.
Speaker 2: Oh my god. Yeah, it happened quickly.
Speaker 4: Was that COVID driven, baby driven the mix of all
Speaker 4: of it, Like, where did that come from? Especially as
Speaker 4: someone who was like I left the state for a reason.
Speaker 2: I know that's so sassy, isn't it. No? No, no, But it's.
Speaker 4: Like I have so many friends who literally would have
Speaker 4: said the same thing. But it's such a vibe, like
Speaker 4: I seen so many people could resonate with that and
Speaker 4: then be like, what do you mean you moved back?
Speaker 2: Yeah? I was like, I moved eleven hundred kilometers away
Speaker 2: for a reason. I will never move back to my
Speaker 2: hometown until I have a baby, and I actually just
Speaker 2: really need my mom. That's so fair, Like, I'm sorry, mom,
Speaker 2: hell love you. I didn't mean it, take me back. Yeah.
Speaker 2: So it was partly COVID driven, but mainly baby driven. Yeah. So,
Speaker 2: just really wanted to be closer to home. But because
Speaker 2: of the lockdowns, it meant that we had to buy
Speaker 2: our next home site unseen. Oh wow, which was.
Speaker 4: That would give me anxiety. That's like the biggest purchase
Speaker 4: you've ever made in your life when you can't even
Speaker 4: look at it before you give them the money.
Speaker 2: Like, oh yeah, it was really bad. So we saw
Speaker 2: our new home about two weeks after settlement. Wow, which
Speaker 2: was a gamble to say the least. How did that go?
Speaker 2: We are so grateful to have a home. Look, it
Speaker 2: is a good house.
Speaker 4: I'm waiting for the butt you can just say, but
Speaker 4: it's anonymous, but.
Speaker 2: No one knows who am I kidding? No, Look, it
Speaker 2: is a really good house. It's in a great area.
Speaker 2: We probably paid more of a premium because of the
Speaker 2: area that it is in. But it needs quite a
Speaker 2: bit of work. So when we first moved in, everything
Speaker 2: seemed fine and then it started raining, and then there
Speaker 2: was like an indoor water feature, and then it was Yeah,
Speaker 2: it was pretty bad. We've had to put quite a
Speaker 2: lot of money into it, which has set us back
Speaker 2: in a few other ways. It was a massive gamble,
Speaker 2: and I still kind of feel sick about how much
Speaker 2: we paid for it start unseen. But I guess where
Speaker 2: there's desperation, you kind of like you have to pay
Speaker 2: what you have to pay. Right, that was kind of
Speaker 2: just the climate that we were in, And I can't
Speaker 2: really hold us you.
Speaker 4: Did what was right at the time. Yeah, and now
Speaker 4: you might have done it differently, but you can't change
Speaker 4: the times.
Speaker 2: So yes, and I'm kind of hoping that maybe we've
Speaker 2: learned our lesson and next time I will be a
Speaker 2: bit smarter about large purchases.
Speaker 4: So in your money Dairy entry, you said, my husband
Speaker 4: and I hit a combined income of over two hundred
Speaker 4: thousand dollars and we had everything we ever wanted. What
Speaker 4: do you do now? Like, what do you do for work?
Speaker 1: Now?
Speaker 4: What do you earn?
Speaker 2: Because I know that the tables have turned. Yes, so
Speaker 2: I took a big step back from the career that
Speaker 2: I'd worked really hard to get and now I'm working
Speaker 2: casually two and a half days a week as a
Speaker 2: chiropract assistant. Oh cool. Yeah, so it's still a little
Speaker 2: bit hands on, but it's administrative. It's like three minutes
Speaker 2: from where I live, so so close to home, Like
Speaker 2: I can ride my bike there if I wanted to. Yeah,
Speaker 2: it's really good. And I earn there because it's casual.
Speaker 2: That fluctuates a bit, but I think I'm on track
Speaker 2: at the moment to earn about forty nine thousand plus super.
Speaker 4: Oh for two days a week.
Speaker 2: Yeah, I do two and a half days and then
Speaker 2: like a Saturday every now and then. Oh, how nice.
Speaker 2: Okay that is. I thought you were going to say
Speaker 2: less than that.
Speaker 4: I don't know why. I think because when you said
Speaker 4: two and a half days, I was like, okay, cool,
Speaker 4: Like that is. I'm very happy with that forty nine
Speaker 4: thousand plus super Yeah.
Speaker 2: So our boss is awesome. You know, he sees a
Speaker 2: lot of value in what we do, and he certainly
Speaker 2: pays us accordingly. Yeah, Adore, what an icon?
Speaker 4: What does your husband do and how much does he earn?
Speaker 2: Yeah? So he is a software engineer. He has permanently
Speaker 2: actually gone part time as well because he wanted to
Speaker 2: step back and have a bit more time with the
Speaker 2: kids that we're young. So previously he was on about
Speaker 2: one hundred and sixty plus super and now he's on
Speaker 2: about one hundred and thirty plus super Hey for part time.
Speaker 4: Yeah, yeah, okay, pop Off, tell me more about this.
Speaker 4: How many days a week is he doing?
Speaker 2: So he's doing four days a week and he does
Speaker 2: anywhere between kind of like seven to eight hours a day,
Speaker 2: gets to work from home, all goes into the city
Speaker 2: if he feels like it. Yeah, it's a really good balance.
Speaker 4: I'd love this for you guys, And I mean that
Speaker 4: makes sense because you said when our kids arrived, everything
Speaker 4: changed and now we have enough money for baby chinos
Speaker 4: and that's enough for us. I low key love that
Speaker 4: you own your home. Obviously your more lifestyle focused, I'm assuming.
Speaker 4: Can you tell me a bit more about what your
Speaker 4: big money goals are.
Speaker 2: Yeah, so we were actually having a chat about this recently.
Speaker 2: So I feel like, on one hand, we've got the
Speaker 2: really practical ones of like finish the renovations so that
Speaker 2: our house doesn't link every time it rains, try to
Speaker 2: pay down the mortgage water feature.
Speaker 4: We could reframe that make it really sexy.
Speaker 2: When we actually moved in, it had an indoor water
Speaker 2: feature down to a pond as well. It was atrocious.
Speaker 2: I love that for you guys.
Speaker 4: I too had an indoor water feature, but it was
Speaker 4: accidental when we moved in.
Speaker 2: Yeah, like it was. It was beautiful. Yeah, it's like
Speaker 2: there was. When I say indoor water feature to pond,
Speaker 2: I mean fish and all. Like it was terrible. But
Speaker 2: at the moment, like, we've been kind of living this
Speaker 2: little like part time life for a few months, and
Speaker 2: I think long term money goal is to be in
Speaker 2: a position where we actually don't have to go back
Speaker 2: to work full time. Oh I love that. That sounds
Speaker 2: so fun. Yeah, it just feels like a bit of
Speaker 2: a trap, doesn't it.
Speaker 4: Look The more I think about it, the more I'm like,
Speaker 4: absolutely it is. But it turns out we have to
Speaker 4: have money to trade for goods and services, and like
Speaker 4: that's okay, rude, And I don't know, I feel like
Speaker 4: we're stuck in the wheel, so we may as well
Speaker 4: learn as much about money so that we can prioritize
Speaker 4: our lifestyles as well.
Speaker 2: I don't know, it's a good idea to me. Maybe
Speaker 2: I should do a podcast or something. Have you heard
Speaker 2: of it? I think there's one called something like She's
Speaker 2: in the finance. You should look it up. Yeah, yeah,
Speaker 2: that would be perfect.
Speaker 4: Yeah, I'll look it up later.
Speaker 2: You could use that name if you wanted. Yeah.
Speaker 4: Thanks, Let's go to a break and then on the
Speaker 4: flip side, I'm going to talk to you about investments.
Speaker 4: We're going to talk about debt, best and worst money habits,
Speaker 4: and maybe we'll come up with a better name.
Speaker 2: For a podcast in the future.
Speaker 4: All right, guys, we are back and our money at
Speaker 4: host today grew up with a single mom in a
Speaker 4: low socioeconomic area and has now flipped the script hit
Speaker 4: a combined income of more than two hundred thousand dollars,
Speaker 4: and has now chosen to take a step back so
Speaker 4: that she can spend more time with her family and
Speaker 4: get some baby chinos.
Speaker 2: Can we just start off by talking.
Speaker 4: So my kid is at the moment, what just over
Speaker 4: eleven months old, and that to me is terrifying because
Speaker 4: the first year has gone way quicker than I ever
Speaker 4: consented to. But I'm starting to look at things. He
Speaker 4: hasn't had a baby gino yet, but I'm starting to
Speaker 4: see them on the menu more often it's something I
Speaker 4: glossed over before. What do you mean a baby Chino
Speaker 4: is three dollars.
Speaker 2: It's actually ridiculous, And like little insider tip, they don't
Speaker 2: drink it. They just want the little marshmallow that goes
Speaker 2: on top. So just ask for a sneaky marshmallow with
Speaker 2: your coffee next one.
Speaker 4: Honestly, that's lokay smart, apart from the fact I did
Speaker 4: that Tiny Heart's course and they said you're not allowed
Speaker 4: to give your babies marshmallows, And now I'm scared of
Speaker 4: marshmallows and popcorn.
Speaker 2: Look, you probably should be. I actually used to work
Speaker 2: as a paramedic, so I feel like terrible for even
Speaker 2: suggesting that you just give you eleven month old a marshmallow.
Speaker 4: No, but like I feel like we've we've got to
Speaker 4: use our initiative in our nouse. I just have an
Speaker 4: aversion to marshmallows at this point.
Speaker 2: Yeah, And you know what, I'm actually more scared of
Speaker 2: my kids if I tell them they can't have a marshmallow.
Speaker 2: At the moment, I.
Speaker 4: Think, okay, that's a very valid fear. That's very valid,
Speaker 4: And you're like, you know what cost benefit analysis.
Speaker 2: We're going to do a risk analysis on this.
Speaker 4: I think that's fair, which means like, if you're doing
Speaker 4: risk analysis, talk to me about in Is that something
Speaker 4: that you've thought about? Is it something you're doing? What's
Speaker 4: the plan there?
Speaker 2: Yeah? So I have a Shares's account.
Speaker 4: Oh a coen after my own heart.
Speaker 2: Yeah, you can use this like really cool code SotM
Speaker 2: and you get ten dollars in your wallet. Oh my god,
Speaker 2: do you want to work for Sheese on the money?
Speaker 4: Like not only are you suggesting better names, but yeah,
Speaker 4: like you do get ten dollars for free to start
Speaker 4: your journey?
Speaker 2: Is that how you did that? Is how I did it?
Speaker 2: Because it was just free money, wasn't it?
Speaker 4: Like it's actually ludicrous, Like they give you ten dollars,
Speaker 4: they don't give me ten dollars, Like I don't get
Speaker 4: any kickback on that, because I was like that just
Speaker 4: feels a little bit convoluted. Instead of five dollars for
Speaker 4: me five dollars, you just give them the whole ten dollars.
Speaker 4: But like, if you hypothetically put one hundred dollars into
Speaker 4: your share trading platform, that's an instant ten percent return.
Speaker 2: Absolutely that's better than the ASX is producing at the moment.
Speaker 4: Right now, absolutely, so like I love that for you,
Speaker 4: So talk to me about how you're picking on Chares's
Speaker 4: and what's going on.
Speaker 2: Yeah. So I have a few ETFs in there and
Speaker 2: then a few just random companies that I figured that
Speaker 2: I put some money into, mainly because I just wanted
Speaker 2: to see how it all worked when I first started. So,
Speaker 2: but I'm very much an ETF girly. So I've got
Speaker 2: about seventeen hundred in chasas now.
Speaker 4: Oh my gosh, so you are building it up.
Speaker 2: Yeah, So we just make little contributions every month. So
Speaker 2: when we were earning a little bit more, we were
Speaker 2: putting more into our investments, and now that we've dropped back,
Speaker 2: we've kind of just reduced that percentage as well.
Speaker 4: Cool, very cool.
Speaker 2: So we've got that. We've also got some ETFs under
Speaker 2: the concept it'll pock it up, So my husband deals
Speaker 2: with those ones and then I just do the chasis
Speaker 2: and then we both have Super.
Speaker 4: Very cool, And what's the plan for Super? Is that
Speaker 4: something that you're like, oh, I reckon, it's on track?
Speaker 4: Do we talk about that at home a lot? Like
Speaker 4: how does that work? Because you had a pretty good
Speaker 4: salary before you took a step back. So I'm assuming
Speaker 4: you've cared about super before.
Speaker 1: Yeah.
Speaker 2: Absolutely, So I am a big super girlie in that,
Speaker 2: Like I've got the app on my phone and I
Speaker 2: kind of track it and I see where the investments
Speaker 2: are going, and we have good conversations about it. We've
Speaker 2: plugged kind of the numbers into the calculator before as well,
Speaker 2: just to see where we're on track for retirement if
Speaker 2: we needed to make any sort of additional contributions. But
Speaker 2: I think at the moment we're pretty happy with where
Speaker 2: we're sitting with our super accounts. Yeah, oh, how good.
Speaker 4: I love when people are like, yeah, we're active, I
Speaker 4: have the app. Do you know how many people don't
Speaker 4: know that most super funds have an app? Like you
Speaker 4: can literally just put it on your phone, the same
Speaker 4: as like your phone banking and just like check.
Speaker 2: But don't they just want to know what's in there?
Speaker 2: Like I can't not know.
Speaker 4: Some people are evasive of it, and I totally get that,
Speaker 4: but I just like looking that it's doing what it's
Speaker 4: meant to do. It makes me feel good when I've
Speaker 4: maybe splurged you a little bit where I shouldn't have.
Speaker 2: I'm like oh, Super doing all right. Yeah, I bought
Speaker 2: Sight unseen. I's went too much on my house. But
Speaker 2: my Super is okay.
Speaker 4: She's healthy, she's happy, she's thriving. Let's not take it
Speaker 4: any deeper. So talk to me about debt. You have
Speaker 4: a mortgage, do you have any other debt? Tell me.
Speaker 2: So, we've got a mortgage. We owe six hundred and
Speaker 2: ninety thousand on our house, and we pay that at
Speaker 2: six point zero nine percent, so it's pretty big monthly
Speaker 2: bill that comes out. And the only other debt that
Speaker 2: we've got, I've got a student debt of about nineteen
Speaker 2: thousand dollars, which I'm really actively trying not to add too.
Speaker 2: But I think in my head, heckstad is just free money,
Speaker 2: like I'm such a serial student.
Speaker 4: I mean, it's not, but I totally get that.
Speaker 2: Yeah, it's absolutely not. And every time I log into
Speaker 2: the account to see what it was kind of index
Speaker 2: at or how little I'm paying off it, I'm reminded
Speaker 2: of that. Yes, but really trying not to add to
Speaker 2: that anymore and just pay that down. But otherwise we've
Speaker 2: got no other loans or debts or anything, which is nice.
Speaker 4: I love that six point oh nine as a interest
Speaker 4: rate is relatively normal at the moment, which is kind
Speaker 4: of crippling, Like I don't love to feel that, but
Speaker 4: six point oh nine is I would say a pretty
Speaker 4: good comparison rate. Do you have a broker that you're
Speaker 4: working with, Like why did you know that? Just off
Speaker 4: the top of your head? Did you check your app before?
Speaker 4: Do you always review it? Like tell me about that?
Speaker 2: Yeah, So I am always pretty across what our interest
Speaker 2: rates are, just to make sure that they're competitive and
Speaker 2: that there's nothing kind of better out there. We do
Speaker 2: have a broker that we've used in the past who
Speaker 2: was lovely fantastic, but we came off so when we
Speaker 2: moved up, we were on a fixed rate at one
Speaker 2: point nine percent, so then we used our broker I.
Speaker 4: Know, Oh my gosh, yeah, yeah.
Speaker 2: So it really hurt when we came off.
Speaker 4: Oh you're speaking to the converted like I'm the same.
Speaker 4: I'm like, ooh yeah.
Speaker 2: And now we're just like desperately kind of waiting to
Speaker 2: see what the RBA is going to do with the
Speaker 2: cash raid and hope that it starts to come down soon.
Speaker 2: But yeah, I'm pretty on top of what our interest
Speaker 2: rate is because like, why give the bank any more
Speaker 2: of my money than I honestly did in my twenties.
Speaker 4: Very valid point. I feel like you've paid your way.
Speaker 2: I've paid my share of interest rates.
Speaker 4: Thank you one hundred percent. I feel like you've changed
Speaker 4: your entire narrative around money. What do you think is
Speaker 4: your best money habit?
Speaker 2: So this might be a little left field, but I
Speaker 2: think that because of everything I've been through, I have
Speaker 2: a really solid understanding of my values. So whenever it
Speaker 2: comes to making like financial decisions or purchases, like I
Speaker 2: kind of just come back to whether or not it
Speaker 2: feels good and it's in line without values and our goals.
Speaker 2: And I feel like that's been a really good money
Speaker 2: habit because it stops the guilt associated with spending. But
Speaker 2: at the same time, it stops us from trying to
Speaker 2: keep up with the joneses. Like I don't fall trapped
Speaker 2: to like trends or fads or anything like that because
Speaker 2: it just doesn't feel right. So I feel like that's
Speaker 2: been a really good way to kind of just keep
Speaker 2: spending in track.
Speaker 4: Yeah, yeah, yeah, I love that. And I feel like
Speaker 4: saying my best money habit is literally that I can
Speaker 4: stay in line with my values sligh.
Speaker 2: I love that.
Speaker 4: I think that is literally one of the best responses
Speaker 4: to be like no, no, no, Like, all of the
Speaker 4: dollars I have coming in are working for me in
Speaker 4: the way that I want them to, Like, how good,
Speaker 4: flip it?
Speaker 2: What's your worst? So I have what I like to
Speaker 2: call a procrastination tax. So my motto seems to be like,
Speaker 2: if it ain't broke, don't fix it, and if it
Speaker 2: is broke, still don't fix it until it's urgent. Oh yeah,
Speaker 2: I do that.
Speaker 4: Yeah yeah, until your car's flashing at you and it
Speaker 4: says you need it ail change and then you're like,
Speaker 4: oh okay, well I'll think about it as an option.
Speaker 2: Absolutely, So then you pay procrastination tax because you need
Speaker 2: things done urgently a sap.
Speaker 4: Yeah, Oh my god, I am. Do you know what
Speaker 4: I didn't realize, But I'm actually the queen of procrastination?
Speaker 2: Oh yes, well welcome. Yeah.
Speaker 4: Like at Christmas time, Ah, I actually now have to
Speaker 4: pay for express post because I didn't organize this earlier.
Speaker 4: I actually have to go down to the shops and
Speaker 4: buy this instead of getting the best possible price online
Speaker 4: because I don't have time to wait.
Speaker 2: Absolutely, and that happened with like a pipe that we
Speaker 2: had that had a really slow trip, and I knew
Speaker 2: that it needed to be done, but procrastination tax rules
Speaker 2: then meant I had to leave it until the pipe
Speaker 2: burst during that Christmas New Year period.
Speaker 4: Oh good, It's always the time where it's going to
Speaker 4: be the most expensive.
Speaker 2: Yeah, yes, So please may I pay a premium to
Speaker 2: get a plumber to fix my first water part because
Speaker 2: that I knew about for a really long time, for
Speaker 2: too long?
Speaker 4: Oh well, do you know what I'm impressed with you?
Speaker 4: It's actually about having insight into your own life, and
Speaker 4: I feel like you have a lot of that.
Speaker 2: Tell me.
Speaker 4: At the start of this episode, you were like, I
Speaker 4: reckon they I'm a solid bee? What makes you a
Speaker 4: solid bee? And one you an A?
Speaker 1: Like?
Speaker 4: What would an A look like?
Speaker 5: Yeah?
Speaker 2: So I think that I'm a solid B because I'm
Speaker 2: pretty across where our money is coming in where it's
Speaker 2: going out. I'm pretty comfortable with how we spend things
Speaker 2: and how we save. I don't know that I would
Speaker 2: ever want to get up to an A if I'm honest.
Speaker 2: I feel like, once i think that I've learned everything
Speaker 2: that I'm going to stop trying so hard and you
Speaker 2: kind of stop evolving. So I think that if in
Speaker 2: my head I was an A or an A pass,
Speaker 2: I'd just not try. Yeah, and then I just wouldn't try,
Speaker 2: And I think that that can be really dangerous.
Speaker 4: I think that's a really positive way to stay a B.
Speaker 4: I don't even want you to become an A now,
Speaker 4: like just live in by.
Speaker 2: I love it. I love it.
Speaker 4: I loved this. I feel like this is such a
Speaker 4: good chat. Last question I have is you said, look,
Speaker 4: we've definitely traded our career ambitions for you know, prioritizing
Speaker 4: what truly matters to you. Do you have any regrets
Speaker 4: with that? Because I feel like lots of people listen
Speaker 4: to these and they're like, yeah, but like the extra
Speaker 4: cash is so helpful, and what I do, like, what
Speaker 4: are your regrets about making this decision?
Speaker 2: I'm not sure that I have many regrets. No regrets,
Speaker 2: no regrets. I think that a lot of the ways
Speaker 2: that we were spending our money was on things because
Speaker 2: of how it would make us look to other people.
Speaker 2: So we would say, go on these really expensive, luxurious
Speaker 2: family holidays, but no one would see that. On the
Speaker 2: other side, I was having panic attacks going to work
Speaker 2: every day. No, that's not worth it. No, and it wasn't.
Speaker 2: And I think that once I had that moment where
Speaker 2: it was like this is not adding up, Like this
Speaker 2: is not okay. We still have family holidays, but it's
Speaker 2: camping or it's like a staycation at home. Like, I
Speaker 2: feel a lot better, My mental health is a lot
Speaker 2: better for that. There is that side of me that
Speaker 2: still does kind of worry about what if one day
Speaker 2: we run out of money and I don't have my
Speaker 2: lunchbox money, say up squirreled somewhere to feed the family.
Speaker 4: That's a deep down feeling, isn't it.
Speaker 2: Yeah, So I think that there is still that, but
Speaker 2: I kind of combat that with knowing that money is
Speaker 2: just a tool and you can always earn more money
Speaker 2: if you need to. That you can never get this
Speaker 2: time back. I love that so much.
Speaker 4: I wish we had more time money, drist It has
Speaker 4: been a pleasure getting to chat with you today, getting
Speaker 4: to learn about you and your little family and that
Speaker 4: maybe we do but don't. Like the marshmallow on top
Speaker 4: of a baby Chino, like we just can't get to
Speaker 4: the bottom of that one. And that's totally okay. But
Speaker 4: I have adored this chat, and I just know that
Speaker 4: the community are going to have so many or have
Speaker 4: had so many moments in this episode where.
Speaker 2: They're like same, that's me, same, because like.
Speaker 4: It's just so relatable. So I really appreciate it and
Speaker 4: know that community is going to love this episode as.
Speaker 2: Much as I have. Thank you so much for having me.
Speaker 4: Of course, the advice shared on Cheese on the Money
Speaker 4: is generally nature and does not consider you're in vidual circumstances.
Speaker 4: She's on the Money exists purely for educational purposes and
Speaker 4: should not be relied upon to make an investment or
Speaker 4: financial decision. If you do choose to buy a financial product.
Speaker 5: Read the PDS TMD and obtain appropriate financial.
Speaker 4: Advice tailored towards your needs.
Speaker 5: Victoria Divine and She's on the Money are authorized representatives
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