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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 Kerni 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 generation coming

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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing

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

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Speaker 1: today 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 4: Hello, and welcome to She's on the podcast Millennials who

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Speaker 4: want financial Freedom. Welcome back to another Shop Back Money

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Speaker 4: Diary Monday, where we chat to a community member about them,

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Speaker 4: their story, their finance, their finances, their finances and all

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Speaker 4: of the fun things in between. So today I have

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Speaker 4: an excellent one for you.

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Speaker 2: Oh you don't have a good one. You have an

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Speaker 2: excellent one. Brand new adjective, would you ask you? Yes?

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Speaker 2: I actually want to get a list of adjectives. I

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Speaker 2: should to just like filter through all of them, because

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Speaker 2: that's all we've got. That's the extent of my copywriting skills.

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Speaker 2: It's right click the soaurus genius. Thank Chadie. Well, here

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Speaker 2: we go.

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Speaker 4: Listen to this. Our diroist says, both my parents retired

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Speaker 4: when I was fourteen to fifteen years old. I learned

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Speaker 4: the value and importance of money early on. My partner

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Speaker 4: and I are planning to move onto our boat we

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Speaker 4: bought last year. I want to save money. We won't

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Speaker 4: have to pay rent, water or electricity money in What

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Speaker 4: We Love a boat story?

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Speaker 2: Oh my gosh, yes, like this entire podcast has been

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Speaker 2: throwing below deck vibe for so long. Money Drest, welcome

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Speaker 2: to the show. Do you have a below decks boat?

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Speaker 5: Hello? And no, not that fancy?

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Speaker 2: A boat's still a boat.

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Speaker 4: You're doing better than me.

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Speaker 2: Oh my gosh, yes, imagine owning a boat. Glenn James

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Speaker 2: owns a boat. He's pretty fancy. He is pretty fancy.

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Speaker 2: Let's get into the money questions though, Money Darrist, are

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Speaker 2: you ready?

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Speaker 5: I hope?

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Speaker 2: So, all right, let's give it a crack. The first

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Speaker 2: question is, actually, can you tell us a little bit

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Speaker 2: about your money story?

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Speaker 6: Well, as you said, my parents retired when I was

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Speaker 6: quite young, still in high school and I'm an only child.

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Speaker 6: My parents also divorced when I was I think twelve,

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Speaker 6: so I lived with mum. She yeah, retired, so I

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Speaker 6: guess was on I'm not sure which things she was on,

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Speaker 6: but government allowance, and yeah, it was quite tight. She

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Speaker 6: was quite open with me most of the time about

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Speaker 6: bill's and how much she had in a bank account.

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Speaker 6: And it was really scary for a lot of the

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Speaker 6: time time knowing that you had, you know, one hundred

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Speaker 6: dollars to last the rest of the week or until

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Speaker 6: she got.

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Speaker 5: Paid or whatnot.

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Speaker 6: But I do think I was still, yeah, very privileged

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Speaker 6: in she owned her own house and I never went

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Speaker 6: without what I needed. I went to a private Christian school,

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Speaker 6: but that was from inheritance from my grandmother that passed away.

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Speaker 2: So what a good use of inheritance. Yeah that was

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Speaker 2: how cool.

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Speaker 6: The deal that under the age of twenty one or

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Speaker 6: whatever it was, it could only be used towards education.

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Speaker 2: Yeah, that's quite what a smart grandma. Yeah she had

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Speaker 2: your back. I love that. And how old was your

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Speaker 2: mum when she decided to retire.

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Speaker 6: My parents are a bit older, so she had me

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Speaker 6: at forty two, so she.

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Speaker 2: Would have been fifty four if you were twelve.

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Speaker 6: I think I was fourteen or fifteen when she retired,

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Speaker 6: so a few more years on, but yeah.

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Speaker 2: You got around about then. Yeah, still young, still young

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Speaker 2: enough to enjoy the fact that she was retiring, which

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Speaker 2: is kind of nice as well.

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Speaker 5: Yeah, she's always been. She's still so busy.

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Speaker 6: She does a lot of volunteer work and community stuff,

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Speaker 6: so she just doesn't stop.

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Speaker 2: Oh I love that though. All right, next question, money Diarist,

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Speaker 2: is what do you do for work and how much

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Speaker 2: money do you earn?

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Speaker 5: So I am a full time university student and I

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Speaker 5: also work as a disability support worker thirty plus hours

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Speaker 5: a week.

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Speaker 2: Wow, like full time and then basically full time.

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Speaker 5: Yeah, it's intense, Oh my gosh.

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Speaker 2: And how much money do you earn from that job?

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Speaker 5: Approximately about sixty thousand a year.

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Speaker 2: Hey, that's not bad for a full time UNI student.

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Speaker 2: That's really good. Yeah. All right, leading into the next

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Speaker 2: question because I want to know what you're doing with

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Speaker 2: that money. What is your big money goal?

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Speaker 6: Ah, So for my partner and I last year, it

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Speaker 6: was to buy the boat, which we did at the

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Speaker 6: end of last year, and now we have a few

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Speaker 6: different things pending our life I guess for the end

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Speaker 6: of next year would be to buy an investment house,

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Speaker 6: and then we also want to do a bit of traveling.

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Speaker 2: Very cool. Can I be super pervy? How much does

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Speaker 2: a boat cost?

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Speaker 5: We bought ours for forty thousand dollars.

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Speaker 2: Oh my gosh, that's so much money. I love that.

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Speaker 2: Tell me about your boat, though, Like so it's just

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Speaker 2: looking at me like asking these questions, like what is it?

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Speaker 2: It's like, clearly not a dinghy if you're going to

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Speaker 2: be moving on to it. So tell me about the boat.

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Speaker 5: Yeah, it's a liver board.

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Speaker 6: It's a thirty five foot bounty, so it's still small,

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Speaker 6: but it's livabool for two people. I guess, got a

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Speaker 6: little kitchen or toilet, little like dating area.

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Speaker 2: Everything you can. You're going to like moore it in

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Speaker 2: a you know what. I'm going to go back to

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Speaker 2: the questions because Jess is going to get me. Next

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Speaker 2: question is do you have any investments currently apart from

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Speaker 2: super no epic? Next question do you have any debts?

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Speaker 5: Just my hex step?

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Speaker 2: How much is your hex step? My friend?

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Speaker 5: I think it's just under third two thousand currently.

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Speaker 2: Not too bad. And how do you feel about it?

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Speaker 4: Yeah?

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Speaker 6: Pretty good, so as well with that inheritance I got

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Speaker 6: my Oh no, sorry, it wasn't the inheritance. My parents

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Speaker 6: when I was younger set up a scholarship thing and

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Speaker 6: I think it might have been twenty thousand dollars was saved.

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Speaker 6: And because I have another degree I did when I

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Speaker 6: first finished high school and that went towards that, So

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Speaker 6: that was awesome.

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Speaker 2: Hey, that's really cool.

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Speaker 4: What was your first degree that you did?

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Speaker 5: I did a Bachelor of Social Science.

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Speaker 2: Yeah, awesome, very cool. Story checks out. That makes a

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Speaker 2: lot of sense. Next question, do you currently use shop back?

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Speaker 6: Yes, not often, as I don't buy a lot of stuff,

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Speaker 6: but I do use it.

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Speaker 2: Oh what did you last purchase on shop back? My friend?

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Speaker 5: Protein powder?

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Speaker 2: Oh my gosh, what I'd love asking this question because

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Speaker 2: it's always so interesting, like what what kind of protein powder?

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Speaker 2: Are we talking? Is this like real niche content or

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Speaker 2: are you like Victoria? I just got it at Cole's.

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Speaker 6: Yeah, I just got back into the gym. We're trying

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Speaker 6: to so I thought i'd better buy some protein powder.

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Speaker 2: And yeah, a money win is a money win, am

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Speaker 2: I right? Absolutely? All right? What is your best money habit?

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Speaker 2: Money diarist?

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Speaker 6: My worst money habit I would say is when I

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Speaker 6: do have a goal, I say really hard.

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Speaker 2: I love that, all right? What is your worst money habit?

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Speaker 6: So I get a bit stressed out and anxious and

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Speaker 6: I find that, say I have a university assignment or

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Speaker 6: something going on and I have a deadline, I will

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Speaker 6: splurge and buy takeout or treat myself because I just

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Speaker 6: have to get through that day.

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Speaker 2: I don't know if that's bad. I feel like that's

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Speaker 2: a coping mechanism. My friends, like, you just said you

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Speaker 2: have a stressful day, so you get takeaway to make

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Speaker 2: it feel better, Like, oh, Jess is looking at me again,

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Speaker 2: She's gonna be no victoria. Some people think that's bad,

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Speaker 2: and I'm like, oh, that's how I live my life

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Speaker 2: and cope with. We just dress, Mexican food, everything in moderation,

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Speaker 2: Everything in moderation. That's not the worst. And money diarist,

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Speaker 2: last question before we go to a quick break. If

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Speaker 2: we forced you to give yourself a grade, what would

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Speaker 2: you grade your money habits?

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Speaker 5: I think a B and why would you give yourself

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Speaker 5: a bee?

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Speaker 6: I think I do well in certain areas, but there's

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Speaker 6: also a lot I can improve on that.

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Speaker 2: I think that seems really fair. I thought she was

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Speaker 2: going to say, bee for a boat. Let's go to

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Speaker 2: a quick break. We'll be right back after this. All right,

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Speaker 2: we are back and money diarist. I want to know

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Speaker 2: what possessed you and your partner to turn around and go,

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Speaker 2: do you know what? We should buy a boat?

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Speaker 6: So it's always been my partner's dream to buy a boat,

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Speaker 6: as he grew up in a family that sales, and

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Speaker 6: I guess it's become my dream as well since being together.

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Speaker 6: And yeah, it was really a to find out that

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Speaker 6: you can live on one and save a lot of

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Speaker 6: money doing so and not have to pay rent.

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Speaker 2: Oh my gosh, So tell me about how that works,

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Speaker 2: because you can't do you just like take it out

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Speaker 2: into the bay and leave it there and you just

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Speaker 2: live on that boat in the middle of the bay.

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Speaker 2: Like do you have to pay mooring or something somewhere?

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Speaker 1: Like?

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Speaker 2: How does all this work?

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Speaker 6: So technically you can't live on a vessel for a

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Speaker 6: period of time in New South Wales, so we will

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Speaker 6: move to Queensland. Does it's more of a common thing

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Speaker 6: in Queensland And you can live on boats in Queensland.

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Speaker 2: Oh, you can't in New South Wales.

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Speaker 6: It's only for like a period of time, or you

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Speaker 6: have to keep moving around. Yeah okay, yeah, So there's

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Speaker 6: two options. You either live in a marina, which is

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Speaker 6: a little bit more expensive because you're paying for the

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Speaker 6: facilities and it's just easier use, I guess, but it's

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Speaker 6: still severely cheaper than renting.

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Speaker 2: Yeah.

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Speaker 5: And then the other.

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Speaker 6: Option is a mooring, which is obviously out in the

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Speaker 6: water and you would have to paddle in and out

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Speaker 6: and that is ridiculously cheap.

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Speaker 2: Oh which one are you doing, my friend?

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Speaker 6: I think we will start out in a marina to

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Speaker 6: get used to doing that, and then the goal is

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Speaker 6: to get out to a mooring.

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Speaker 2: Oh wow, And how do you find a mooring? Do

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Speaker 2: you just go this looks like a nice patch emotion,

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Speaker 2: I'm going to live right here.

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Speaker 6: I'm not one hundred percent sure yet. It's all very

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Speaker 6: new to me. I think you like through contacts?

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Speaker 2: Yeah wow, how cool. So what happens on the boat?

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Speaker 2: So you said you don't have to pay for like

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Speaker 2: water or electricity or anything like that, Like what power

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Speaker 2: is the boat?

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Speaker 1: Then?

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Speaker 6: So you have your main batteries and then you have

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Speaker 6: solar panels and our boat has a wind generator, so

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Speaker 6: that's what powers everything, and you still have to be

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Speaker 6: quite cautious of how much energy you use.

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Speaker 4: Yeah, it sounds much more environmentally friendly as well if

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Speaker 4: you're generating all of that power that you're using from

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Speaker 4: like the elements rather than you know, cold generated power,

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Speaker 4: which is quite cool, fun little.

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Speaker 5: Start of effection.

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Speaker 2: Yeah, and so talk to me about work. So if

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Speaker 2: you're living at a marina, I'm just so interested in

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Speaker 2: the way other people live their lives. So if you're

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Speaker 2: living at a marina, do you wake up every morning,

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Speaker 2: you have a quick shower on the boat, do your hair,

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Speaker 2: do you make up, and then go to work, Like

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Speaker 2: you get off your boat and go to work. Is

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Speaker 2: that how that works?

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Speaker 6: Yeah, you have to be very minimalistic, I guess, and

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Speaker 6: I don't really wear makeup and I'm just a quick

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Speaker 6: get ready person. So either yeah, shower at the marina

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Speaker 6: or get a GEM membership and shower there. And then

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Speaker 6: also in disability the houses I work out, there's like

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Speaker 6: a bathroom I could use if I really wanted to.

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Speaker 2: Yeah, that's quite cool. So it like really fits with

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Speaker 2: the job that you've got and the lifestyle that you're living. Yeah,

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Speaker 2: so talk to me more about how this is working

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Speaker 2: towards your future goal. You said before that you and

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Speaker 2: your partner are saving and you want to buy a

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Speaker 2: house and all of this other stuff. How much quicker

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Speaker 2: are you going to be able to save for a

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Speaker 2: home because you're living on your boat.

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Speaker 5: A lot quicker.

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Speaker 6: So at the moment, we pay four thirty week ignorant,

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Speaker 6: so obviously we'll have a few expenses with the boat,

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Speaker 6: but counting maybe half of that in each week, it'll

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Speaker 6: be a larger chunk and it will make it a

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Speaker 6: lot quicker.

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Speaker 4: Have you actually run the numbers, because I'm assuming when

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Speaker 4: you were kind of deciding whether to get out on

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Speaker 4: the boat or continue living the way you were in

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Speaker 4: terms of what you'll be saving on rent and utilities

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Speaker 4: and all of those other general lifestyle costs.

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Speaker 6: Yeah, so there's still a few little expenses with the boat,

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Speaker 6: like the moor angle, the marina and whatnot. But I'd

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Speaker 6: say it's approximately fifteen thousand.

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Speaker 2: A year, my gosh, and that will obviously get you

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Speaker 2: so much closer to a home so much quicker. What's

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Speaker 2: the plan then you're going to buy? You mentioned before

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Speaker 2: an investment property? Is that so that you can invest

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Speaker 2: and then potentially retire early like your parents did, or like,

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Speaker 2: what's the plan, my friend?

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Speaker 6: Both my partner and I love adventure and traveling, so

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Speaker 6: that's really our main goal.

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Speaker 5: I guess, to enjoy life and live it to it's full.

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Speaker 6: We've got some great family and friends around us that

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Speaker 6: have invested and invested well, so we have their feedback

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Speaker 6: to get into the market as early as possible, and yeah,

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Speaker 6: build I guess our.

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Speaker 5: Retirement off that.

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Speaker 4: Yeah, you said you love adventure, will you be I

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Speaker 4: guess using the boat as a partner, Like, would you

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Speaker 4: travel on the boat as well around Australia or areas?

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Speaker 6: Yeah, so that's my boyfriend's big dream, and then I'm

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Speaker 6: more of a travel overseas so yeah, I really really

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Speaker 6: hope that we can use the boat and sail overseas. Otherwise, yeah,

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Speaker 6: we'll be sailing around Australia.

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Speaker 4: You'd save so much money on that aspect as well,

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Speaker 4: because as we know, we've just booked a trip and

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Speaker 4: accommodation is so expensive. So if you can take the

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Speaker 4: boat places, in addition to having I guess saved on

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Speaker 4: your normal living expenses, you'd be saving on your holiday

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Speaker 4: as well, which is pretty cool.

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Speaker 6: Yeah, and the current degree I'm studying is high school teaching,

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Speaker 6: so yeah, I've only recently found out that I will

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Speaker 6: be able to stop in different places if we do

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Speaker 6: go around Australia and just pick up casual work.

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Speaker 2: Yeah, that's awesome to be really pervy. Again, what does

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Speaker 2: your partner do? How's this going to fit with his

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Speaker 2: work and lifestyle.

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Speaker 6: He's a disability support worker as well, so Hey said, hey, yeah,

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Speaker 6: just pick up work where he can.

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Speaker 2: Oh my gosh, you were two peas in a pod

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Speaker 2: or two peas on a boat. I feel like that's

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Speaker 2: really sweet. All right, money direst you're going to say

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Speaker 2: like fifteen grand extra a year. Obviously that takes a

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Speaker 2: little bit of financial pressure off. But earlier in the podcast,

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Speaker 2: you mentioned that your worst money habit was that you

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Speaker 2: stress about money. How are you dealing with that?

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Speaker 5: So I'm still stressed.

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Speaker 6: I'm always I'm earning the most I've ever earned, but

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Speaker 6: i still find myself so anxious that I'm not going

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Speaker 6: to be financially secure, I guess, and be able to

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Speaker 6: be financially stable just in the future.

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Speaker 2: Why do you think that's the case. Obviously, you've got

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Speaker 2: a good job, you're a UNI student. It sounds like

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Speaker 2: you're a massive hustler. Why do you think that's taking

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Speaker 2: up so much of your mental space at the moment.

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Speaker 6: I think I've always been a casual shift worker throughout

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Speaker 6: all the different jobs I've done since school, and I've

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Speaker 6: never had the Monday till Friday full time job. So yeah,

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Speaker 6: just that stability I guess I've never had.

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Speaker 2: Do you find that it's something that you're craving or

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Speaker 2: is it something you're like, oh my gosh, everybody else

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Speaker 2: has this, so I want it. Like is it potentially

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Speaker 2: a bit of you maybe not looking at your own

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Speaker 2: journey and really comparing your journey to that of everybody

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Speaker 2: around you.

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Speaker 6: Maybe I think it's a bit of both. I do

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Speaker 6: wish sometimes to have that routine during the week as

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Speaker 6: doing shift work, I really struggle with, you know, my

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Speaker 6: own self care, like going to the gym or appointments,

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Speaker 6: that sort of thing. And then also, yeah, probably a

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Speaker 6: bit of saying other people's lives.

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Speaker 2: Yeah, I think it's one of those things that a

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Speaker 2: lot of people in our community are probably resonating with

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Speaker 2: right now. They're like, oh my gosh, she sounds so cool.

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Speaker 2: She's just bought a boat, she's saving for home, her

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Speaker 2: and her partner are basically living the dream. But you're

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Speaker 2: still really stressed about money, which is not where we

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Speaker 2: want to be. So what I would probably look at

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Speaker 2: is really making sure that you're on top of your

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Speaker 2: budget and cash flow, Like, do you have a really

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Speaker 2: structured budget and cash flow plan that you go, no,

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Speaker 2: I know what's going on. I do have an emergency fund.

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Speaker 2: I do know what would happen. I think that once

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Speaker 2: we really start to look at the bigger picture and

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Speaker 2: go all right, well, have I got my financial stuff sorted? Yes,

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Speaker 2: probably sounds like you do, my friend, It's actually about

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Speaker 2: working backwards and going, well, where's this money anxiety coming from?

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Speaker 2: And that's why we always talk about money stories and

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Speaker 2: where they come from, because more often than not, as

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Speaker 2: much as money in the every day is super stressful,

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Speaker 2: this stuff actually is usually underlying. It could be underlying

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Speaker 2: stress from growing up and before you mentioned your mum

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Speaker 2: and you know, not having one hundred dollars in the

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Speaker 2: bank account to last the rest of the week until

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Speaker 2: she got paid. Like, this is stuff that I actually

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Speaker 2: really promote people to even just like organize a time

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Speaker 2: with a therapist, or organize a time with a counselor

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Speaker 2: to sit down and go all right, I need to

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Speaker 2: talk this through because I'm actually in a pretty good

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Speaker 2: financial situation, but it just feels all overwhelming and all encompassing.

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Speaker 2: Is that something you'd consider?

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Speaker 5: Yeah, one hundred percent.

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Speaker 2: I feel like that's Unfortunately all we have time for today, guys,

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Speaker 2: just before we head off, can you wrap the boring

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Speaker 2: but important stuff? Absolutely so.

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Speaker 4: Don't forget, guys that the advice shed on She's on

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Speaker 4: the Money is general in nature and does not consider

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Speaker 4: your individual circumstances. She's on the money exists purely the

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Speaker 4: educational purposes and should not be relied upon to make

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Speaker 4: an investment or a financial decision. And we promise Victoria

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Speaker 4: divine and She's on the money up. Authorized Representatives of

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Speaker 4: Infocused Securities Australia Proprietary Limited ab M four seven oh

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Speaker 4: nine seven seven nine seven O four nine AFS L

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Speaker 4: two three six five two three.

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Speaker 2: Good work, jes see you on Wednesday, guys, see then