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

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Speaker 1: the Order, Kernie 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.

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Speaker 2: She's on the Money.

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Speaker 4: Hello, and welcome to She's on the Money, the podcast

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Speaker 4: for millennials who want financial freedom. Welcome back to another

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Speaker 4: one of our money diaries where we get to talk

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Speaker 4: with one of our incredible She's on the Money community

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Speaker 4: members all about their journey. Let's jump straight into it,

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Speaker 4: because this week we got a message and it went

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Speaker 4: just like this, Dear, She's on the Money. Travel was

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Speaker 4: always a huge part of my life, but once I

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Speaker 4: came home everything changed. Between twenty twenty and twenty twenty two,

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Speaker 4: I was hit hard by burnout. I was weighed down

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Speaker 4: by health expenses and mortgages, and I felt completely overwhelmed.

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Speaker 4: I've recently managed to save up for my first big

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Speaker 4: international holiday and years, using Quantus points and Airbnb.

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Speaker 2: To cover most of the costs.

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Speaker 4: That trip was a much needed reset, and it inspired

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Speaker 4: me to reevaluate my spending with She's on the Money resources.

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Speaker 4: I set a budget, started saving again, and made living

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Speaker 4: within my means a priority. Now I'm back on track,

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Speaker 4: focused on my financial goals and building a life that

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Speaker 4: aligns with war truly matters to me.

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Speaker 2: Money Diarist, that sounds so special. I'm so excited to

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Speaker 2: have you on the show.

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Speaker 3: Thank you for having me, No, of course.

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Speaker 4: Thank you for wanting to share with us. I cannot

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Speaker 4: wait to jump further into it. So before we get there,

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Speaker 4: as always, I need to ask money Darist. If I

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Speaker 4: asked you to give your money habits a grade from

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Speaker 4: A through to F, what would you grade yourself?

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Speaker 3: I think, based on recent behavior, i'd say a BEE.

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Speaker 4: For Now, I love this and I want to know

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Speaker 4: can you tell us a little bit more about your

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Speaker 4: money story.

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Speaker 3: I guess, as you mentioned in the intro, I love

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Speaker 3: to travel and it's always kind of been a priority

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Speaker 3: for me. But about ten years ago I bought my

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Speaker 3: first property. I didn't want to spend all my money

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Speaker 3: on travel. I did want to have something behind me,

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Speaker 3: so I returned home to my little regional community and

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Speaker 3: bought my first little property. And after a few years,

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Speaker 3: I was just kind of ready for a change, so

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Speaker 3: I moved and bought my second off equity in the

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Speaker 3: first one, which was very lucky.

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Speaker 2: Not lucky. Hard work. That's what you meant to do.

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Speaker 3: That's true. Yeah, And yeah, as I said, I don't know,

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Speaker 3: at times, it's felt pretty hard and like there just

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Speaker 3: hasn't really been a light at the end of the

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Speaker 3: tunnel to get just paying bills constantly. But yeah, this year,

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Speaker 3: I just kind of made a priority to have that

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Speaker 3: holiday and it was a really good reset for me

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Speaker 3: to realize I can do the holiday if I'm a

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Speaker 3: bit smarter with my money when I'm at home. So

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Speaker 3: it's been a good motivation to get back on track

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Speaker 3: with prioritizing what matters and what doesn't.

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Speaker 4: And is travel, I guess top of the priority list

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Speaker 4: at this point.

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Speaker 3: It is, but I think I've just recently been reassessing

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Speaker 3: what types of travel too, like I did the European

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Speaker 3: holiday this year, but I think next year i'd try

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Speaker 3: to do something a little bit closer to home, like Asia.

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Speaker 3: It's nice seeing money go to my I'm really trying

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Speaker 3: to prioritize getting money into my offset to bring that

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Speaker 3: interest down. So as much as I do love the travel,

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Speaker 3: it's also it's been really rewarding being a bit better

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Speaker 3: with my money and seeing it have benefits to me

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Speaker 3: as well.

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Speaker 4: Is that something you've always felt or are you only

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Speaker 4: recently going Actually, this is really like empowering seeing money

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Speaker 4: in my offset and seeing me control my budget, because

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Speaker 4: I think so many of us avoid budgeting because it

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Speaker 4: feels so restrictive and we're like, we can't live our

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Speaker 4: best lives if we do this. But it doesn't sound

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Speaker 4: like that's what budget is doing for you.

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Speaker 3: Oh, it took me a while to sit down and

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Speaker 3: do the budget.

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Speaker 2: It's overwhelming.

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Speaker 3: Yeah it was, and I just wanted to avoid it,

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Speaker 3: but I knew I had to do it. And when

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Speaker 3: I used your resources actually on your website, it made

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Speaker 3: me sick to see how much like when you took

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Speaker 3: out the bills and what my necessary payments were, I

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Speaker 3: was where's all the excess going. It made me feel

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Speaker 3: like I need to be a bit more accountable.

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Speaker 4: Sorry, but also you're welcome, Like both are really good.

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Speaker 4: It's confronting at the same time as going. I'm glad

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Speaker 4: you now know because I'm assuming that this process happened

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Speaker 4: and you were going through it and it wasn't Oh

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Speaker 4: my gosh, I have to be restrictive. When you did

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Speaker 4: this budget, it was like, oh my gosh, I can't

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Speaker 4: believe I'm spending that on that. And it really highlighted

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Speaker 4: your values because you were like, actually, I'd much prefer

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Speaker 4: that money to not go to X and to go

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Speaker 4: to Y.

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Speaker 2: What was the most surprising thing in your budget?

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Speaker 3: Oh, I think it was just the how much was

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Speaker 3: left over. I think food, just entertainment and things like that,

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Speaker 3: how much I had been spending, and you know, and

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Speaker 3: chatting with some friends I haven't really kind and supported friends.

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Speaker 3: We all were on board with maybe instead of having

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Speaker 3: our one hundred dollar meals and cocktails out every week,

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Speaker 3: we do that less less often and go out for

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Speaker 3: a dessert or like a coffee or frozen yogurt or

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Speaker 3: something instead.

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Speaker 2: So I love that.

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Speaker 4: How nice is it to have friends on the same

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Speaker 4: page as you like, you're like, this would actually benefit

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Speaker 4: all of us, Like it's not just me, guys, And

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Speaker 4: that's such a good way to frame it as well.

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Speaker 4: It's like this is going to be good.

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Speaker 2: For all of us, and I mean, you can start

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Speaker 2: having dinner at each other's houses. It's just so wholesome.

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Speaker 3: Yeah, we did that recently and it was so nice

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Speaker 3: because we were able to get to have those wholesome conversations.

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Speaker 3: We weren't interrupted by a waiter every few minutes. Yeah,

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Speaker 3: it was lovely.

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Speaker 4: Or you have to pipe down because there's like a

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Speaker 4: few tables beside you and you're like, oh, yeah, I

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Speaker 4: want to tell you about this, but I'll tell you later.

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Speaker 2: No, you could say it right at the table.

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Speaker 3: Yeah, No, it was lovely.

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Speaker 2: I love that.

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Speaker 4: All right, tell me a bit more about you. I

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Speaker 4: want to know what do you do for work? How

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Speaker 4: much money do you earn?

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Speaker 3: I have a government job and I make about one

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Speaker 3: hundred and ten thousand a year plus super very cool.

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Speaker 2: And how long have you been doing that role? And

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Speaker 2: what does it kind of look like?

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Speaker 3: I jump around roles every few years to be honest,

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Speaker 3: within government, which is kind of I think what keeps

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Speaker 3: me there keeps it interesting. But I'm a project manager,

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Speaker 3: so I don't manage projects.

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Speaker 2: Yeah, very cool.

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Speaker 4: What did you like one hundred and ten grand a year?

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Speaker 4: That's pretty good money. What did you have to study

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Speaker 4: or do to get into I guess having a government

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Speaker 4: job that pays so well.

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Speaker 3: I did like a project management degree at UNI, and

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Speaker 3: it's a while ago now, and I guess a lot

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Speaker 3: of the skills I learned on the job. Really, when

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Speaker 3: I reflect back, it's having goods and chores and good

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Speaker 3: people around me to help Boston build my skills to

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Speaker 3: very cool.

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Speaker 4: Talk to me about money goals. I need to know

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Speaker 4: you have two mortgages already. Like you said, I'm back

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Speaker 4: on track. I'm focused on my financial goals.

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Speaker 2: What are those goals?

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Speaker 3: Ultimately, I'd like to have financial freedom, as I said,

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Speaker 3: I'd love to travel.

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Speaker 2: Yes, the best goal ever.

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Speaker 3: Yeah, I'd love to add some extra income streams that

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Speaker 3: I feel like I need to get on top of.

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Speaker 3: I'd like to pay done that, add some more to

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Speaker 3: the offset really just to feel bit more comfortable. And

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Speaker 3: I'd like to learn a lot more about investing. I

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Speaker 3: did double at one point, but I had to pull

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Speaker 3: the money out to pay for the bills. So I'd

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Speaker 3: like to revisit that.

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Speaker 4: That's so fair and I mean you learned something along

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Speaker 4: the way and then you paid bills, Like, I'm proud

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Speaker 4: of you ten out of ten.

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Speaker 2: I would love to see you getting back into it.

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Speaker 4: But like, we need a solid emergency fund, and like

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Speaker 4: having a nice amount of money in offset is going

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Speaker 4: to be really powerful in comparison, I need to know

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Speaker 4: what does financial freedom mean to you, Like, if that's

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Speaker 4: something that you're like, this is my big goal, this

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Speaker 4: is what I'm working towards. How did you work out

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Speaker 4: what you would need for that?

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Speaker 3: Well, I guess I'd just like to live a life

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Speaker 3: that isn't found by bills. I'd like to I mean, ultimately,

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Speaker 3: long term, i'd love to be able to keep both

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Speaker 3: properties and have the rent coming in and paying me.

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Speaker 3: I mean that's obviously a very long term. I'd like

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Speaker 3: to buy a house. I don't know, I'd love to

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Speaker 3: be able to keep both of them. Hopefully I can,

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Speaker 3: but yeah, have a house where can have a yard.

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Speaker 3: But yeah, ultimately, the freedom is like being able to

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Speaker 3: travel every year, not be just feeling like I'm bound

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Speaker 3: by these bills and things like that.

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Speaker 4: And is that something that you feel pretty strongly at

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Speaker 4: the moment You're like, oh my gosh, like all these

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Speaker 4: bills are piling up, and it feels like it's running

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Speaker 4: my life. I feel like this is a theme that

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Speaker 4: I'm picking up in this conversation.

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Speaker 3: It was, but I think it's taken a few years

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Speaker 3: now to understand when they're all coming in. I've been

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Speaker 3: able to map them out in handy Excel spreadsheit just

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Speaker 3: see to know like that in August and my big

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Speaker 3: bill months, so I need to be making sure the

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Speaker 3: money is in the account to be able to pay

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Speaker 3: those big bills when they come in. So I think, yeah,

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Speaker 3: just understanding what those bills are and cash flow and

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Speaker 3: things like that is really important and not splurging before

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Speaker 3: those are paid. Yeah, being smart around sale time and

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Speaker 3: things like that.

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Speaker 2: But that's really hard.

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Speaker 4: I totally get it, though, because you said February and August,

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Speaker 4: I feel.

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Speaker 2: Like our bills might match up.

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Speaker 4: Actually, but those months are they big because you have

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Speaker 4: redgio or insurance or body like what's happening in those months.

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Speaker 4: That is so I guess burdensome in comparison to the

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Speaker 4: other normal months.

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Speaker 3: It's pretty much all of the body corporate, all of

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Speaker 3: the rates my red ho insurance in the early part

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Speaker 3: of the year anyway, and then the second half is

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Speaker 3: the other doesn't have the Red Joe in the car,

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Speaker 3: but it's just pretty much all the big bills for

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Speaker 3: the house that you then.

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Speaker 4: And have you decided to implement a cash flow system

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Speaker 4: to manage that or like your one bank ac count, girl,

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Speaker 4: Like tell me a bit about like how we're putting

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Speaker 4: this money aside, because like so many of us are like,

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Speaker 4: oh my gosh, it's in my account, like I could

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Speaker 4: spend it tomorrow.

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Speaker 3: No, I've got multiple bank accounts. I have a house account.

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Speaker 3: I've just started a car account though, I'm really excited

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Speaker 3: about that one, so next year those bills won't be

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Speaker 3: a big burden on me. But yeah, multiple accounts tracking,

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Speaker 3: and as you mentioned, I've been using Airbnb to help

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Speaker 3: anything that I make, and Airbnb goes to the house

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Speaker 3: account and then that pays for the bills there. So

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Speaker 3: that's been really helpful too.

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Speaker 4: I adore that you're going to have to tell me

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Speaker 4: more about airbnb though, like what does that mean? How

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Speaker 4: are you using it? Like are you having guests or

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Speaker 4: are you renting your whole house out or are you

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Speaker 4: just cleaning Airbnb's like I need to know the deeds,

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Speaker 4: my friend.

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Speaker 3: Yeah, so I've been using Airbnb the last few years

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Speaker 3: to help pay my house bills. So I've been renting

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Speaker 3: out my spare room on Airbnb, and I've had doctors

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Speaker 3: for last and Irish doctor staying with me for the

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Speaker 3: last few weeks while she's been.

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Speaker 2: Oh okay, how fun.

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Speaker 3: Yeah, it's been really nice because I like to travel.

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Speaker 3: It's been nice to get to meet people who are

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Speaker 3: setting up their life here.

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Speaker 2: It's like traveling but at home.

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Speaker 3: Yeah, I've got a paramedic staying in another few weeks.

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Speaker 3: So mostly women, and they tell me that they would

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Speaker 3: prefer to stay in someone's home than in a hotel

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Speaker 3: on the side of the highway. They feel safer. So yeah,

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Speaker 3: it's really helped me out. But in holiday times I

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Speaker 3: do rent out the whole place for longer periods of time.

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Speaker 3: Issue just to one person.

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Speaker 2: That's really fun.

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Speaker 4: You have to tell me though, because like it just

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Speaker 4: feels really overwhelming to go, oh, I'm going to stick

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Speaker 4: my spare room on air being but like, what did

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Speaker 4: you have to do to prep for that? Like, did

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Speaker 4: you have to buy all new sheets or all new furniture?

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Speaker 2: Like, well, I don't know what does that look like?

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Speaker 3: I guess I had it all set up to be honest,

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Speaker 3: it's just my spare room, so I had it looking

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Speaker 3: nice and yeah've always got nice sheets and towels ready.

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Speaker 3: I had a beingb set up a photographer to take

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Speaker 3: nice photos.

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Speaker 2: Oh cute.

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Speaker 3: Yeah, so it looks nice.

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Speaker 4: And then you just put the listing online and say, hey,

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Speaker 4: come stay in my spare room. I'm a really nice

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Speaker 4: girl who lives in this location and I like chatting

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Speaker 4: with friends like is that just what you do? And

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Speaker 4: then how much are you making? You have to tell me,

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Speaker 4: like what are you making? Lots of money, a little

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Speaker 4: bit of money?

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Speaker 3: What depends on how often you do it. Obviously, my

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Speaker 3: rates change depending on season and availability, and if they

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Speaker 3: book for a long period of time, I have discount rates,

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Speaker 3: so I can generally make one hundred dollars a night.

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Speaker 2: What one hundred bucks a night for your spare room.

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Speaker 3: Yeah, but I mean I've had someone stay for three

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Speaker 3: weeks and there's a discount on that, so I guess

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Speaker 3: it keeps it a little bit more comparable to a

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Speaker 3: short term rental. I suppose I love it.

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Speaker 4: I feel like that's good money though, like every week

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Speaker 4: making an extra like well seven hundred bucks just having

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Speaker 4: someone stay, Like I know that it's going to ebb

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Speaker 4: and flow. You've probably got some airbnb charges, but that's

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Speaker 4: money you didn't have before.

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Speaker 3: Yeah, it's helped pay the bills, and it's kept me

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Speaker 3: afloat for sure. I've taken a lot of the pressure off.

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Speaker 3: So without that, I wouldn't have had the holiday this year,

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Speaker 3: and I wouldn't have had I guess there's better habits too.

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Speaker 3: I think all of my money would have just been

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Speaker 3: going to paying the bills. Now I've had a little

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Speaker 3: bit more extra to be able to enjoy life a

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Speaker 3: little bit more. So it's definitely taken pressure.

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Speaker 2: Absolutely, And I have to know what happens if someone

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Speaker 2: takes your whole house, Like where are you going? What

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Speaker 2: do you do?

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Speaker 4: Because like do you just like hide under the house

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Speaker 4: until they come back?

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Speaker 2: Like I don't know.

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Speaker 3: Yeah, I go on holidays, so yeah it's usually Christmas time.

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Speaker 4: Yeah, okay, perfect, So while you're on holidays, you're leasing

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Speaker 4: your whole house out. I'm not sure why I couldn't

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Speaker 4: comprehend that that was an option.

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Speaker 2: In my mind, I was like, so where do you go?

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Speaker 2: I love that? That is really fun.

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Speaker 4: All right, let's go to a really quick break because

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Speaker 4: after the break I want to talk to you a

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Speaker 4: bit more about having two properties. Like you're only thirty nine.

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Speaker 4: That is a massive goal. You seem a bit like,

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Speaker 4: oh yeah, like it's just something I did, But like

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Speaker 4: we need to know how, when, why, all of the details.

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Speaker 4: So guys don't go anywhere, all right, money diarist, We

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Speaker 4: are back, and I know the answer to this is, yes,

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Speaker 4: do you have any investments?

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Speaker 2: If so, what are they?

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Speaker 3: Yes? So I've got to well, I guess if you

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Speaker 3: count your home as an investment, but I guess technically

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Speaker 3: have one rental property I bought nearly ten years ago,

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Speaker 3: and then the property I live in Now.

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Speaker 2: I love this. How did you get into property?

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Speaker 3: Like?

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Speaker 2: Was it something that you had always wanted to purchase?

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Speaker 2: Was it something that.

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Speaker 4: You had, you know, saved for one million years to purchase.

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Speaker 4: Was it something where you're like, oh, actually I saved

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Speaker 4: the deposits in like six months, Victoria, Like, tell me

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Speaker 4: a bit more about that journey, because, like for so

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Speaker 4: many of us, property purchasing feels so hard and so

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Speaker 4: far off.

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Speaker 3: I guess it. Like I started contributing years and years ago.

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Speaker 3: I think it was Kevin Rudd that introduced one of

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Speaker 3: those first time saver accounts. You couldn't touch the money,

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Speaker 3: but you could just add to it, and if you

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Speaker 3: have never used it, it just go to your super

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Speaker 3: So I thought, for someone that loves to travel, it

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Speaker 3: would be a good idea to open one of those accounts.

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Speaker 3: So every when I got a little bit of tax

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Speaker 3: money back, or you know, a bit of a lumpsum,

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Speaker 3: I'd drop some money in there because I knew i'd

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Speaker 3: probably just spend it on travel and would have nothing.

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Speaker 3: I didn't want to have nothing to show for it.

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Speaker 3: So yeah, when I moved back from overseas, I had

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Speaker 3: to live with my parents for a while, and I

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Speaker 3: guess I was just looking at the rental market where

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Speaker 3: I was living, and cost of mortgage was about the

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Speaker 3: same as rent, so I thought, why not stay at

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Speaker 3: home a little while longer, so a bit more money

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Speaker 3: and then yeah, buy my own place.

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Speaker 2: And Kevin O seven helped you out with that one.

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Speaker 2: I like that.

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Speaker 3: Yeah, so now that helped. Yeah, I guess it's been

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Speaker 3: a while since I had that when I rented it out,

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Speaker 3: it's been rented out now for about four or five years.

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Speaker 2: That's very cool. What kind of rental yield are you getting.

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Speaker 3: On that they're rented to paying about five hundred a week?

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Speaker 4: And does that cover the mortgage or does it, you know,

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Speaker 4: mean that you need to top up or like, what

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Speaker 4: does that look like in comparison to the ownership costs.

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Speaker 3: It nearly covers the mortgage, but it doesn't cover any

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Speaker 3: of the other bills at the moment. It did before

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Speaker 3: all the interest rate rises, and in fact that I

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Speaker 3: wasn't being smart with the money. It was covering it.

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Speaker 3: But I could have been smart and putting more towards

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Speaker 3: an offset back then, but I wasn't. You know, live

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Speaker 3: and learn that. I guess we were learning.

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Speaker 4: We were doing the best that we could with the

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Speaker 4: tools and resources we had at the time. I feel

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Speaker 4: like we're always so harsh on ourselves. We're like, I

377
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Speaker 4: could have been doing more. Yeah, you could have, but

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Speaker 4: you weren't and you just didn't know. So that's fine.

379
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Speaker 4: So tell me more about this second property, because you

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Speaker 4: mentioned in the first half of the show that you

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Speaker 4: bought your first property and then you managed to buy

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Speaker 4: your second with equity. So what was that property worth

383
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Speaker 4: when you purchased it? What did it increase to or

384
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Speaker 4: did you smash town the mortgage aggressively so that the

385
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Speaker 4: equity grew, Like, tell us, we need the deats.

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Speaker 3: I did have savings. I did save the deposit. I

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Speaker 3: think I had around eighty thous and because I moved

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Speaker 3: home to save a bit. But I had it revalued

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Speaker 3: and I haven't had it revalue recently in the last year,

390
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Speaker 3: but it had more than doubled in price.

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Speaker 2: Oh my god.

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Speaker 3: Yeah, because it's a little regional town that's done quite

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Speaker 3: well over the last few years.

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Speaker 4: So I love that for you so much. So tell

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Speaker 4: me what were you thinking when you bought your second property?

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Speaker 2: What was the plan there?

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Speaker 4: Were you like, I'm going to buy another investment or

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Speaker 4: I'm going to buy a family home or what was

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Speaker 4: the next step plan?

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Speaker 3: Well, I didn't think I could do it, to be honest,

401
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Speaker 3: I was just paying rent and my brother encouraged me

402
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Speaker 3: to go speak to the broker that we both used,

403
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Speaker 3: and smart man. Yeah, he did the numbers and was like, yeah,

404
00:17:33,320 --> 00:17:36,159
Speaker 3: for sure, you can buy another one. So with the

405
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Speaker 3: equity I had and a bit of savings I had

406
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Speaker 3: in the bank. Yeah, he encouraged me to do it,

407
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Speaker 3: and I again glad I did because this one's also

408
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Speaker 3: grown in value in the few years I've had it too, So.

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Speaker 2: I love that so much.

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Speaker 4: All right, talked to me about debt. How much debt

411
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Speaker 4: are you in? What do your mortgages look like?

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Speaker 3: Yeah, my mortgages The first property still has about three twenty.

413
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Speaker 3: I did a renovation on that one, taking out another loan,

414
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Speaker 3: so that loan has gone up since I have had

415
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Speaker 3: it originally, So that's three twenty. What's the property worth

416
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Speaker 3: about seven hundred? Oh?

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Speaker 2: Very nice?

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Speaker 4: Isn't that exciting when you like spell it out, You're like, actually,

419
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Speaker 4: look at.

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Speaker 3: Me, go, yeah, no, it is well around that anyway.

421
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Speaker 2: Yeah, that's okay.

422
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Speaker 4: And then you're getting about five hundred bucks a week

423
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Speaker 4: on that property.

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Speaker 2: It's do you know what that is?

425
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Speaker 4: Creating such good long term wealth. Like at the end

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Speaker 4: of the day, you said, I'm working towards financial freedom.

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Speaker 4: You know, it feels a little bit distant. It's not

428
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Speaker 4: that far off.

429
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Speaker 3: I hope. So yeah, I just I think having good

430
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Speaker 3: systems in place has helped me to realize it isn't

431
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Speaker 3: if I just keep going done the way I am.

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Speaker 2: I love that, all right, tell me about your second mortgage.

433
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Speaker 3: Yeah, it was about five fifty. No, actually that's the

434
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Speaker 3: value of property. I think the mortgage itself was about

435
00:18:47,920 --> 00:18:50,439
Speaker 3: four fifty. Yeah. I haven't paid too much off that

436
00:18:50,480 --> 00:18:53,000
Speaker 3: because it's something been a few years. But the property

437
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Speaker 3: is worth about seven fifty I think.

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Speaker 2: What it's got.

439
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Speaker 4: So when you purchased it, you purchased for five fifty,

440
00:19:00,080 --> 00:19:02,720
Speaker 4: and now it's worth seven fifty. Yeah, so you're earning

441
00:19:02,720 --> 00:19:04,879
Speaker 4: one hundred and ten grand a year. But then also

442
00:19:04,960 --> 00:19:07,479
Speaker 4: your properties are like increasing every year by like one

443
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Speaker 4: hundred grand overall.

444
00:19:09,200 --> 00:19:11,800
Speaker 2: Yeah, you're a hustler. I love this.

445
00:19:12,160 --> 00:19:15,040
Speaker 3: Yeah, it's been hard work and luck, I guess, and

446
00:19:15,440 --> 00:19:17,160
Speaker 3: that things have jumped. I don't know if we'll see

447
00:19:17,160 --> 00:19:18,359
Speaker 3: continue to see that jump.

448
00:19:18,440 --> 00:19:20,520
Speaker 2: No, there's no such thing as luck.

449
00:19:20,560 --> 00:19:22,480
Speaker 4: Do you know what? It's so weird all of these

450
00:19:22,480 --> 00:19:25,639
Speaker 4: people that I know that consistently work really hard towards

451
00:19:25,680 --> 00:19:26,680
Speaker 4: financial freedom.

452
00:19:26,880 --> 00:19:29,000
Speaker 2: The harder they work, the luckier they get.

453
00:19:29,200 --> 00:19:30,639
Speaker 3: Yeah, it just feels like a lot of work in

454
00:19:30,680 --> 00:19:32,720
Speaker 3: the beginning. I guess, I'm sure looking back. Well, I

455
00:19:32,760 --> 00:19:36,119
Speaker 3: hope looking back, it all feel easier, but when you're

456
00:19:36,160 --> 00:19:38,840
Speaker 3: at the beginning it is it does feel a bit overwhelming.

457
00:19:38,880 --> 00:19:42,080
Speaker 4: It's overwhelming and all consuming. But now you have two properties,

458
00:19:42,280 --> 00:19:45,040
Speaker 4: one of which you have rented out for five hundred

459
00:19:45,080 --> 00:19:47,120
Speaker 4: dollars a week and one I'm assuming you live in

460
00:19:47,240 --> 00:19:51,600
Speaker 4: currently and you sometimes rented out to people on Airbnb,

461
00:19:51,720 --> 00:19:54,000
Speaker 4: and that gives you some passive income to help pay

462
00:19:54,000 --> 00:19:56,040
Speaker 4: down the mortgage or go on a holiday or live

463
00:19:56,080 --> 00:19:58,600
Speaker 4: your best life. You've got a really good income. I'm

464
00:19:58,600 --> 00:20:02,199
Speaker 4: just so excited about this money diary, Like you are

465
00:20:02,320 --> 00:20:05,679
Speaker 4: killing it. But it's also really achievable and really relatable.

466
00:20:05,840 --> 00:20:08,600
Speaker 4: I think sometimes when you talk to people, you're like, oh, yeah,

467
00:20:08,640 --> 00:20:11,439
Speaker 4: that's okay, Like she owns two properties, but she did

468
00:20:11,520 --> 00:20:13,960
Speaker 4: get you know, a really big lump sum, or you

469
00:20:14,000 --> 00:20:16,879
Speaker 4: know she's been able to live at home until she's fifty,

470
00:20:17,000 --> 00:20:19,440
Speaker 4: or like there are all these stories, but like you've

471
00:20:19,520 --> 00:20:23,479
Speaker 4: just plodded along and gotten it done and done it yourself.

472
00:20:23,000 --> 00:20:25,040
Speaker 2: And ah, I love it. What do you think is

473
00:20:25,040 --> 00:20:26,080
Speaker 2: your best money have it?

474
00:20:26,240 --> 00:20:29,399
Speaker 3: Hmm? I think the airbnb has been one of the

475
00:20:29,400 --> 00:20:32,960
Speaker 3: best things I've done, as well as the tracking, the budgeting.

476
00:20:32,960 --> 00:20:35,840
Speaker 3: But that's all very recent, but I've been really disciplined

477
00:20:35,840 --> 00:20:38,520
Speaker 3: with making sure all of that AIRVMB income goes to

478
00:20:38,600 --> 00:20:41,040
Speaker 3: cover the rates and body corporate and maintenance bills.

479
00:20:41,080 --> 00:20:44,160
Speaker 4: So yes, smart, So at least it feels really productive

480
00:20:44,160 --> 00:20:47,280
Speaker 4: and actually takes I know, like having extra cash coming

481
00:20:47,280 --> 00:20:50,159
Speaker 4: in always sexy, right, We always want more money, but

482
00:20:50,200 --> 00:20:53,200
Speaker 4: the idea it's pre allocated to something that is going

483
00:20:53,240 --> 00:20:55,280
Speaker 4: to take the pressure off later, like when rates happen,

484
00:20:55,359 --> 00:20:55,720
Speaker 4: you'll be.

485
00:20:55,600 --> 00:20:58,320
Speaker 2: Like, hmm, that's already covered. That feels nice.

486
00:20:58,640 --> 00:21:02,640
Speaker 3: Yeah, it does increase my tax will income because that's

487
00:21:02,680 --> 00:21:06,080
Speaker 3: okay too. Yeah, and my accountant tells me that's okay.

488
00:21:06,200 --> 00:21:08,480
Speaker 2: In fact, the more money we make, the more tax

489
00:21:08,520 --> 00:21:08,920
Speaker 2: we pay.

490
00:21:08,960 --> 00:21:10,600
Speaker 4: So I would like to earn lots and lots and

491
00:21:10,600 --> 00:21:12,760
Speaker 4: lots of money and pay lots and lots of tax.

492
00:21:13,080 --> 00:21:13,920
Speaker 3: Yeah, that's true.

493
00:21:13,960 --> 00:21:15,720
Speaker 2: I love it. Tell me, do you have some bad

494
00:21:15,760 --> 00:21:17,040
Speaker 2: money habits? What's your worst?

495
00:21:17,160 --> 00:21:20,440
Speaker 3: I think I do try to find cost effective ways

496
00:21:20,440 --> 00:21:22,160
Speaker 3: to do things, but when it comes to my hair

497
00:21:22,240 --> 00:21:25,560
Speaker 3: and my skin, it's absolutely always the best. I don't

498
00:21:25,560 --> 00:21:29,040
Speaker 3: want to sacrifice on quality for those, and I think

499
00:21:29,080 --> 00:21:31,040
Speaker 3: the other one would probably be well, I've got some

500
00:21:31,080 --> 00:21:34,280
Speaker 3: really good systems in place now. I kind of like consistency.

501
00:21:34,320 --> 00:21:38,800
Speaker 3: I'll go through periods of being really disciplined with like

502
00:21:38,880 --> 00:21:42,760
Speaker 3: the budget, and then I'll just splurge like, yeah, I

503
00:21:42,800 --> 00:21:44,640
Speaker 3: get it. You know all of the sales that are

504
00:21:44,640 --> 00:21:46,320
Speaker 3: on right now, so I've got to Yeah, they kind

505
00:21:46,320 --> 00:21:47,320
Speaker 3: of just throw it all over the windows.

506
00:21:47,359 --> 00:21:48,600
Speaker 2: They've got to put some blinkers on.

507
00:21:48,760 --> 00:21:51,399
Speaker 4: I'm like trying to reframe all of the sales stuff

508
00:21:51,440 --> 00:21:53,560
Speaker 4: to be like, Okay, this is actually a really good

509
00:21:53,560 --> 00:21:56,280
Speaker 4: time that every time they text me to unsubscribe from

510
00:21:56,280 --> 00:21:59,640
Speaker 4: that list. So I'm trying to not read too much

511
00:21:59,640 --> 00:22:01,040
Speaker 4: into it. But also I'm a.

512
00:22:00,960 --> 00:22:05,080
Speaker 2: Little bit spendy, Like I like nice things. I'm just

513
00:22:05,119 --> 00:22:05,520
Speaker 2: a girl.

514
00:22:05,560 --> 00:22:07,879
Speaker 3: You know, it's a girl tax. Yeah.

515
00:22:07,359 --> 00:22:10,040
Speaker 4: Oh, you said at the start that you are a

516
00:22:10,200 --> 00:22:13,480
Speaker 4: solid B, which I think is pretty good. But what

517
00:22:13,560 --> 00:22:15,720
Speaker 4: would it take for you to become an A or

518
00:22:15,760 --> 00:22:18,400
Speaker 4: an A plus? Like what other steps need to be

519
00:22:18,440 --> 00:22:19,240
Speaker 4: put in place.

520
00:22:19,600 --> 00:22:22,840
Speaker 3: I think it's just more the consistency and following through.

521
00:22:23,200 --> 00:22:26,200
Speaker 3: If I can keep this behavior up for the longer term,

522
00:22:26,240 --> 00:22:29,320
Speaker 3: I'd definitely bump that score up. But yeah, just have

523
00:22:29,440 --> 00:22:32,080
Speaker 3: you seeing myself do it a little bit longer than

524
00:22:32,080 --> 00:22:33,399
Speaker 3: the last few months for sure.

525
00:22:33,520 --> 00:22:36,160
Speaker 4: That's exciting though, because that's totally possible, Like I can

526
00:22:36,240 --> 00:22:37,840
Speaker 4: check in with you in twelve months and be like,

527
00:22:37,920 --> 00:22:39,640
Speaker 4: so have you been consistent, and you're gonna be like, yeah,

528
00:22:39,640 --> 00:22:41,400
Speaker 4: of course I've been consistent because I had a really

529
00:22:41,400 --> 00:22:43,960
Speaker 4: clean plan and then I'm an A plus now.

530
00:22:44,119 --> 00:22:45,040
Speaker 2: Isn't that exciting?

531
00:22:45,160 --> 00:22:47,600
Speaker 3: It is? Hopefully. Yeah, I think I'm on the way.

532
00:22:47,760 --> 00:22:50,880
Speaker 4: I adore it. Well, thank you so much for joining us.

533
00:22:50,960 --> 00:22:53,360
Speaker 4: Unfortunately that is all we have time for today when

534
00:22:53,400 --> 00:22:55,680
Speaker 4: it comes to my new darries. But I've loved this.

535
00:22:55,720 --> 00:22:57,920
Speaker 4: I'd love having a chat with you. I totally resonate

536
00:22:58,000 --> 00:23:01,920
Speaker 4: on always wanting to spend on good products for hair

537
00:23:02,080 --> 00:23:04,520
Speaker 4: and good products for skin, Like it's also like a

538
00:23:04,520 --> 00:23:07,160
Speaker 4: little bit of self care, right, like you feel good

539
00:23:07,320 --> 00:23:10,439
Speaker 4: using them, so I get it. But I also have

540
00:23:10,520 --> 00:23:12,520
Speaker 4: loved learning a bit more about how you've been using

541
00:23:12,560 --> 00:23:15,360
Speaker 4: Airbnb and bringing some extra cash in and I mean

542
00:23:16,000 --> 00:23:18,520
Speaker 4: more tax means you just earn more money. We just

543
00:23:18,560 --> 00:23:20,119
Speaker 4: have to have a plan for it. I feel like

544
00:23:20,160 --> 00:23:22,200
Speaker 4: so many people are scared to earn more money because

545
00:23:22,280 --> 00:23:24,800
Speaker 4: tax is scary, but like, you're only ever going to.

546
00:23:24,800 --> 00:23:27,520
Speaker 2: Be taxed at your marginal tax rate. And that is

547
00:23:27,560 --> 00:23:28,119
Speaker 2: a good deal.

548
00:23:28,280 --> 00:23:31,080
Speaker 3: Yeah, exactly, Well, thank you so much for having me.

549
00:23:31,200 --> 00:23:32,720
Speaker 2: No, of course, thank you so much.

550
00:23:32,720 --> 00:23:34,600
Speaker 4: I have adored this money Diary, and I know that

551
00:23:34,640 --> 00:23:43,080
Speaker 4: everyone listening is going to adore it as well. The

552
00:23:43,160 --> 00:23:45,720
Speaker 4: advice shared on She's on the Money is general in

553
00:23:45,800 --> 00:23:49,600
Speaker 4: nature and does not consider your individual circumstances. She's on

554
00:23:49,640 --> 00:23:53,160
Speaker 4: the Money exists purely for educational purposes and should not

555
00:23:53,200 --> 00:23:56,200
Speaker 4: be relied upon to make an investment or financial decision.

556
00:23:56,560 --> 00:23:59,200
Speaker 2: If you do choose to buy a financial product.

557
00:23:58,840 --> 00:24:02,760
Speaker 5: Read the PDST and obtain appropriate financial advice.

558
00:24:02,400 --> 00:24:03,760
Speaker 2: Tailored towards your needs.

559
00:24:04,119 --> 00:24:08,080
Speaker 5: Victoria Divine and Sheese on the Money are authorized representatives

560
00:24:08,119 --> 00:24:10,480
Speaker 5: of Money sherper P, T Y L t D A

561
00:24:10,600 --> 00:24:13,520
Speaker 5: b N three two one six four nine two seven

562
00:24:13,600 --> 00:24:16,480
Speaker 5: seven zero eight a F s L four five one

563
00:24:16,640 --> 00:24:18,120
Speaker 5: two eight nine