1 00:00:00,560 --> 00:00:06,920 Speaker 1: She's on the Money, She's on the Money. 2 00:00:19,239 --> 00:00:23,440 Speaker 2: Hello, and welcome to She's on the Money's Money Diaries. 3 00:00:23,480 --> 00:00:26,880 Speaker 2: Today I am joined by our lovely friend Ryan John, 4 00:00:27,320 --> 00:00:29,200 Speaker 2: and he's asked me to intro and then throw it 5 00:00:29,280 --> 00:00:31,320 Speaker 2: directly to him because he's got a quiz for me. 6 00:00:31,600 --> 00:00:34,400 Speaker 3: So, everyone, because you've clicked on this episode, you know 7 00:00:34,880 --> 00:00:37,600 Speaker 3: what the title of this episode is already, but v 8 00:00:37,800 --> 00:00:39,760 Speaker 3: I'm going to get you to guess as I read 9 00:00:39,800 --> 00:00:43,160 Speaker 3: out this email what this person has done wrong straight 10 00:00:43,200 --> 00:00:43,760 Speaker 3: off the bat? 11 00:00:43,840 --> 00:00:46,400 Speaker 4: Okay, and what they've done wrong? Is their name? 12 00:00:46,760 --> 00:00:46,960 Speaker 3: Oh? 13 00:00:47,800 --> 00:00:48,720 Speaker 4: Is their name for the episode? 14 00:00:48,760 --> 00:00:50,639 Speaker 2: And I've got absolutely no idea what this is yet 15 00:00:50,640 --> 00:00:52,920 Speaker 2: because I've been provided with nothing and this is the 16 00:00:53,040 --> 00:00:55,440 Speaker 2: very first time I've had to open a pod with 17 00:00:55,560 --> 00:00:56,320 Speaker 2: no information. 18 00:00:56,600 --> 00:00:59,360 Speaker 4: That's a line, you know it that's got that's. 19 00:00:59,160 --> 00:01:02,080 Speaker 2: Not that is not lying. Oh maybe it is. I 20 00:01:02,120 --> 00:01:04,360 Speaker 2: don't know. I don't remember. Tell me what was the email? 21 00:01:04,959 --> 00:01:07,399 Speaker 3: So when I was between nineteen and twenty one, I 22 00:01:07,520 --> 00:01:09,560 Speaker 3: was a really great saver and I was able to 23 00:01:09,560 --> 00:01:12,200 Speaker 3: save twenty five thousand dollars on a salary of just 24 00:01:12,400 --> 00:01:13,959 Speaker 3: forty thousand dollars a year. 25 00:01:14,160 --> 00:01:15,959 Speaker 4: What incredible saver? 26 00:01:16,800 --> 00:01:17,560 Speaker 2: Uh? 27 00:01:17,760 --> 00:01:20,160 Speaker 4: Yeah? Shortly after moving out of home. 28 00:01:20,319 --> 00:01:23,479 Speaker 3: When I turned twenty two, I started spending way more 29 00:01:23,840 --> 00:01:27,560 Speaker 3: and saving way less. I am now twenty four, received 30 00:01:27,560 --> 00:01:30,000 Speaker 3: a promotion. I've got a really great salary, and I'm 31 00:01:30,000 --> 00:01:32,959 Speaker 3: finding that as my salary increases, I splurged more. 32 00:01:32,800 --> 00:01:34,480 Speaker 4: And more unnecessary items. 33 00:01:35,120 --> 00:01:38,240 Speaker 3: I yoyo back and forth with saving one thy five 34 00:01:38,319 --> 00:01:40,880 Speaker 3: hundred one pay then spending two thousand to upgrade my 35 00:01:40,920 --> 00:01:42,920 Speaker 3: laptop on the next and it's just like a big yoyo. 36 00:01:43,080 --> 00:01:43,959 Speaker 4: I can't get ahead. 37 00:01:44,280 --> 00:01:46,480 Speaker 3: I'm earning way more than I used to earn, and 38 00:01:46,520 --> 00:01:48,000 Speaker 3: I'm saving way less. Do you want to have a 39 00:01:48,000 --> 00:01:50,160 Speaker 3: guess of what today's money diarist. 40 00:01:49,840 --> 00:01:51,320 Speaker 2: Is a lifestyle creeper? 41 00:01:51,960 --> 00:01:53,040 Speaker 4: Look at the piece of paper. 42 00:01:54,160 --> 00:01:57,000 Speaker 2: What, oh my. 43 00:01:56,880 --> 00:01:57,960 Speaker 4: Gosh, I have? 44 00:01:58,200 --> 00:02:01,360 Speaker 2: So I actually didn't even read that. I'm so impressed 45 00:02:01,400 --> 00:02:02,160 Speaker 2: with myself. 46 00:02:02,560 --> 00:02:05,280 Speaker 3: Well, the lifestyle creeper says, I have large goals and 47 00:02:05,320 --> 00:02:07,240 Speaker 3: I always make budgets, but I'm never able to stick 48 00:02:07,280 --> 00:02:09,320 Speaker 3: to them. I know if I put my mind to something, 49 00:02:09,320 --> 00:02:11,320 Speaker 3: I can achieve more. But I'm feeling like I'm losing 50 00:02:11,360 --> 00:02:13,560 Speaker 3: my way as my income increases, and I want to 51 00:02:13,600 --> 00:02:16,480 Speaker 3: be able to secure myself financially for when I'm older. 52 00:02:16,400 --> 00:02:18,800 Speaker 2: I feel like we've probably got some hot tips for 53 00:02:18,919 --> 00:02:21,800 Speaker 2: this friend of ours, but also I feel like I 54 00:02:21,800 --> 00:02:23,800 Speaker 2: want to know a little bit more about their story. 55 00:02:23,960 --> 00:02:25,519 Speaker 2: So can we have a chat to them? 56 00:02:25,960 --> 00:02:34,600 Speaker 4: Let's give them a bell? Hello? Is this lifestyle creeper? 57 00:02:36,120 --> 00:02:36,760 Speaker 1: Yes? It is. 58 00:02:37,400 --> 00:02:39,000 Speaker 3: I just realized that I hadn't told you what your 59 00:02:39,080 --> 00:02:41,280 Speaker 3: name was until I called. But it's Ryan and Victoria. 60 00:02:41,360 --> 00:02:42,080 Speaker 3: Here are you doing? 61 00:02:42,520 --> 00:02:45,480 Speaker 1: That's okay? Yeah? Good? How you guys going? Well? 62 00:02:45,600 --> 00:02:48,240 Speaker 2: Thank you? How are you? How's your day been? 63 00:02:49,040 --> 00:02:52,440 Speaker 1: Oh? Yeah good? Just finished work for now I'm relaxing 64 00:02:52,520 --> 00:02:53,959 Speaker 1: and yeah, chill it out. 65 00:02:54,400 --> 00:02:59,080 Speaker 3: So I just read Victoria your email. Yeah, and thus 66 00:02:59,120 --> 00:03:01,560 Speaker 3: we've decided you on is lifestyle creeper? 67 00:03:02,360 --> 00:03:03,360 Speaker 1: Yeah? Love it great. 68 00:03:03,720 --> 00:03:05,600 Speaker 3: Now, for people who are regular, as she isn't the money, 69 00:03:05,639 --> 00:03:07,760 Speaker 3: they'll know what lifestyle creep is. But it just occurred 70 00:03:07,800 --> 00:03:09,400 Speaker 3: to me if you don't know what that is, it 71 00:03:09,400 --> 00:03:11,080 Speaker 3: sounds like we're calling you a bit of a creeper. 72 00:03:11,400 --> 00:03:12,120 Speaker 3: That's not the case. 73 00:03:12,160 --> 00:03:14,480 Speaker 2: Maybe she is. We don't know her well enough yet, 74 00:03:15,160 --> 00:03:15,440 Speaker 2: can you? 75 00:03:15,520 --> 00:03:17,760 Speaker 3: Obviously we've just read the email. But just for people 76 00:03:17,840 --> 00:03:20,880 Speaker 3: that don't know what is lifestyle. 77 00:03:20,440 --> 00:03:24,280 Speaker 2: Creep, So lifestyle creep is where you live? Within your 78 00:03:24,360 --> 00:03:28,680 Speaker 2: means at multiple different income levels. So when you're young 79 00:03:28,880 --> 00:03:31,560 Speaker 2: and you're at UNI and you don't have heaps of money, 80 00:03:31,840 --> 00:03:35,280 Speaker 2: you might be buying makeup at the supermarket or at 81 00:03:35,360 --> 00:03:37,920 Speaker 2: price line. And then as you get a bigger job 82 00:03:37,960 --> 00:03:41,440 Speaker 2: and more income, you start to increase your expenses in 83 00:03:41,480 --> 00:03:43,680 Speaker 2: line with your income, and you might now be shopping 84 00:03:43,680 --> 00:03:46,280 Speaker 2: at a door beauty or mecca. And it's one of 85 00:03:46,320 --> 00:03:48,560 Speaker 2: those things where it's so easy to creep up. It's 86 00:03:48,600 --> 00:03:50,600 Speaker 2: like we all used to drink Passion Pop, but now 87 00:03:50,640 --> 00:03:54,080 Speaker 2: I wouldn't purchase that if you paid me literally, So 88 00:03:54,720 --> 00:03:58,480 Speaker 2: that's what lifestyle creep is, where your lifestyle expenses literally 89 00:03:58,560 --> 00:04:00,000 Speaker 2: creep up and you don't realize. 90 00:04:00,400 --> 00:04:03,119 Speaker 4: Does that feel like an accurate description of where you're at? 91 00:04:03,600 --> 00:04:06,640 Speaker 1: Yeah, definitely. I think every time that I've had a 92 00:04:06,680 --> 00:04:09,560 Speaker 1: pay increase, it pretty much just creeps up every now 93 00:04:09,600 --> 00:04:12,800 Speaker 1: and then and without me really realizing until yeah, it 94 00:04:12,960 --> 00:04:14,000 Speaker 1: just happens. It's fair. 95 00:04:14,000 --> 00:04:15,120 Speaker 2: Do you drink passion Pop? 96 00:04:15,160 --> 00:04:20,400 Speaker 1: Though no I don't, thankfully, I love water, but yeah, good. 97 00:04:20,200 --> 00:04:22,160 Speaker 4: For you much more. 98 00:04:23,839 --> 00:04:26,880 Speaker 3: I've personally found myself in a situation where I've got 99 00:04:26,880 --> 00:04:29,080 Speaker 3: what I thought was like a good pay rise and 100 00:04:29,120 --> 00:04:30,800 Speaker 3: then you get halfway through the year to the end 101 00:04:30,800 --> 00:04:33,200 Speaker 3: of the un you go, oh, I got this pay rise. 102 00:04:33,400 --> 00:04:35,480 Speaker 4: Where is it? Where's the rest of the money? 103 00:04:35,640 --> 00:04:39,000 Speaker 2: We've all done that a bit cheeky, but that's where 104 00:04:39,000 --> 00:04:40,560 Speaker 2: we have to have a budget and we have to 105 00:04:40,600 --> 00:04:42,039 Speaker 2: allocate that when it comes in. 106 00:04:42,480 --> 00:04:44,839 Speaker 3: All Right, Lifestyle Creeper Victoria is going to go through 107 00:04:44,880 --> 00:04:48,200 Speaker 3: our regular money diary questions. So with that in mind, 108 00:04:48,960 --> 00:04:50,080 Speaker 3: ed when to hit the first question. 109 00:04:50,240 --> 00:04:52,360 Speaker 2: I would love to hit the first question. I want 110 00:04:52,360 --> 00:04:54,799 Speaker 2: to know what you do and how much you earn. 111 00:04:55,560 --> 00:04:58,640 Speaker 1: So I work for real estate company. I'm now a 112 00:04:58,720 --> 00:05:03,000 Speaker 1: senior property manager. I recently got promoted after relocating back home, 113 00:05:03,160 --> 00:05:05,360 Speaker 1: so that's been a bit of a bit of an 114 00:05:05,400 --> 00:05:07,800 Speaker 1: achievement for me, so I'm quite excited about that. 115 00:05:08,320 --> 00:05:10,760 Speaker 2: I would love to know what you earn as well. 116 00:05:11,279 --> 00:05:15,840 Speaker 1: So I earned seventy thousand before tax, and then on 117 00:05:15,960 --> 00:05:19,080 Speaker 1: top of that, I also get super I also, luckily 118 00:05:19,120 --> 00:05:21,160 Speaker 1: with my job, I get a car allow it's just 119 00:05:21,279 --> 00:05:23,600 Speaker 1: at seven thousand dollars a year as well, so that's 120 00:05:23,680 --> 00:05:26,440 Speaker 1: quite nice because we do have to use our own cars. 121 00:05:26,560 --> 00:05:29,720 Speaker 1: But yeah, that's pretty well accommodated. 122 00:05:29,080 --> 00:05:32,400 Speaker 2: For It's a pretty good money seven grand a year 123 00:05:32,440 --> 00:05:34,760 Speaker 2: that would give you some pretty good car expenses covered. 124 00:05:34,800 --> 00:05:38,400 Speaker 1: I think, yeah, definitely. I only just recently received that 125 00:05:38,480 --> 00:05:41,279 Speaker 1: as of this year, so which is pretty exciting that 126 00:05:41,360 --> 00:05:43,760 Speaker 1: I can kind of start putting towards that. 127 00:05:43,920 --> 00:05:46,279 Speaker 3: But yeah, is it a real cliche that I feel 128 00:05:46,279 --> 00:05:48,599 Speaker 3: like all real estate people have really fancy cars? 129 00:05:48,680 --> 00:05:50,360 Speaker 4: Is that a myth? Or do you drive a really 130 00:05:50,400 --> 00:05:50,880 Speaker 4: nice car? 131 00:05:51,520 --> 00:05:58,320 Speaker 1: I recently got a new car last year, so it's 132 00:05:58,360 --> 00:06:02,120 Speaker 1: a Toyota eighty six. It looks like a little sports car, but. 133 00:06:02,560 --> 00:06:06,640 Speaker 2: Course it looks like a sports car. I want to 134 00:06:06,680 --> 00:06:08,919 Speaker 2: know what is in your bank accounts right now? 135 00:06:09,680 --> 00:06:13,119 Speaker 1: So currently I have three hundred and fifty in emergency fund, 136 00:06:13,160 --> 00:06:15,400 Speaker 1: which was pretty much at zero a couple of weeks 137 00:06:15,440 --> 00:06:20,520 Speaker 1: ago before my first or second paycheck, which, yeah, it's better. 138 00:06:20,600 --> 00:06:22,760 Speaker 1: I was planning on growing it obviously within the next 139 00:06:22,760 --> 00:06:25,360 Speaker 1: few months, but for a couple of months I didn't 140 00:06:25,400 --> 00:06:28,039 Speaker 1: have anything, which obviously in the back of my mind 141 00:06:28,080 --> 00:06:30,839 Speaker 1: every day made me quite worried. But it's getting there. 142 00:06:31,200 --> 00:06:33,560 Speaker 2: And do you have any other bank accounts that you 143 00:06:33,600 --> 00:06:34,839 Speaker 2: want to tell us the details of. 144 00:06:35,520 --> 00:06:38,880 Speaker 1: Yeah, I do have, Like as of this year, I'm 145 00:06:39,000 --> 00:06:41,479 Speaker 1: kind of starting to flow lists that up after obviously 146 00:06:41,480 --> 00:06:44,160 Speaker 1: listening to the podcast a few different bank accounts ones. 147 00:06:44,200 --> 00:06:47,120 Speaker 1: I just want to try and organize my money because 148 00:06:47,120 --> 00:06:49,279 Speaker 1: I'm very visual as well, so I like seeing my 149 00:06:49,320 --> 00:06:52,960 Speaker 1: money in separate accounts for each individual thing. So it 150 00:06:52,960 --> 00:06:55,719 Speaker 1: could be like a bill's account or you know, spending 151 00:06:55,800 --> 00:06:59,000 Speaker 1: account of saving account, things like that. So I do 152 00:06:59,120 --> 00:07:01,320 Speaker 1: have them there, but they just don't have money yet. 153 00:07:01,520 --> 00:07:04,400 Speaker 2: That is fine. I want to ask a purvy and 154 00:07:04,600 --> 00:07:07,680 Speaker 2: really self indulgent question. Are you using their sheets on 155 00:07:07,720 --> 00:07:10,239 Speaker 2: the Money Budgeting cash Flow Masterclass? By chance? 156 00:07:11,080 --> 00:07:13,320 Speaker 1: No, but I've heard about it obviously on the podcast. 157 00:07:13,480 --> 00:07:15,680 Speaker 2: Well I will set you up with that because you 158 00:07:15,720 --> 00:07:17,880 Speaker 2: said you're a visual person and it is a super 159 00:07:17,960 --> 00:07:21,040 Speaker 2: visual guide on what bank accounts you need to set up. 160 00:07:21,040 --> 00:07:23,840 Speaker 2: And I literally just tell you what six bank accounts 161 00:07:23,880 --> 00:07:26,280 Speaker 2: I think you need to set up for financial success. 162 00:07:26,280 --> 00:07:28,320 Speaker 2: And I feel like that might be something that could 163 00:07:28,320 --> 00:07:29,080 Speaker 2: help you right now. 164 00:07:29,400 --> 00:07:31,680 Speaker 1: That would be amazing. Oh my god, Yes, thank you. 165 00:07:31,840 --> 00:07:34,040 Speaker 2: We will add you right after we finished this record. 166 00:07:34,280 --> 00:07:37,000 Speaker 3: And you say you're a visual person, so is V 167 00:07:37,200 --> 00:07:40,480 Speaker 3: Hence the course looks very pretty and arguably there's more 168 00:07:40,520 --> 00:07:42,360 Speaker 3: time spent, not that there wasn't heaps of times been 169 00:07:42,440 --> 00:07:44,120 Speaker 3: on the content, but the effort that went into the 170 00:07:44,200 --> 00:07:46,559 Speaker 3: colors and the fonds of making sure it all popped 171 00:07:46,600 --> 00:07:48,720 Speaker 3: out looking people, let's got an insult. 172 00:07:50,000 --> 00:07:53,040 Speaker 2: Going to print my cash flow system. It's going to 173 00:07:53,120 --> 00:07:56,560 Speaker 2: be aesthetic like it needs to be chef's kiss like. 174 00:07:56,600 --> 00:08:00,400 Speaker 2: It will be the best cash flow system you've ever seen. So, 175 00:08:00,560 --> 00:08:04,440 Speaker 2: speaking of money, what is your attitude towards money? 176 00:08:05,040 --> 00:08:08,800 Speaker 1: Oh, like it's changed over the years. I guess when 177 00:08:08,800 --> 00:08:11,040 Speaker 1: I was quite young, I think in my email to Ryan, 178 00:08:11,160 --> 00:08:14,840 Speaker 1: like I said, it was I was very good with 179 00:08:14,840 --> 00:08:18,360 Speaker 1: my money. I always saved it. I never liked spending. 180 00:08:18,440 --> 00:08:20,880 Speaker 1: I was always, you know, in my family with a 181 00:08:20,920 --> 00:08:25,160 Speaker 1: really good favor I had, I think about twenty five 182 00:08:25,280 --> 00:08:27,640 Speaker 1: thousand dollars in my account when I was between like 183 00:08:27,720 --> 00:08:29,920 Speaker 1: nineteen and twenty one. So I was always really proud 184 00:08:29,920 --> 00:08:32,920 Speaker 1: of myself. And I think as I got older, going 185 00:08:32,960 --> 00:08:36,199 Speaker 1: into the job that I'm in, it just slowly kept 186 00:08:36,280 --> 00:08:39,319 Speaker 1: creeping down as I spent more and you know, bills 187 00:08:39,320 --> 00:08:42,560 Speaker 1: would pop up and I just didn't have the right 188 00:08:42,880 --> 00:08:45,920 Speaker 1: attitude towards how I was going to be managing my money. 189 00:08:46,000 --> 00:08:48,840 Speaker 1: So I think because of that, it just slowly went down. 190 00:08:49,320 --> 00:08:51,280 Speaker 1: It's a shame, but I do definitely want to try 191 00:08:51,280 --> 00:08:53,120 Speaker 1: and get back on TRACT this year. I think after 192 00:08:53,440 --> 00:08:55,520 Speaker 1: listening to Issues on the Money, I think a friend 193 00:08:55,559 --> 00:08:58,920 Speaker 1: posted it on her Instagram story and thought I'd give 194 00:08:58,920 --> 00:09:00,200 Speaker 1: it a crack and listen to it. 195 00:09:00,720 --> 00:09:04,480 Speaker 2: And yeah, I love that people are now finding it 196 00:09:04,600 --> 00:09:07,480 Speaker 2: through their friends. And it's kind of like even more 197 00:09:07,480 --> 00:09:10,400 Speaker 2: community because it's not just oh yeah, like I joined 198 00:09:10,400 --> 00:09:12,000 Speaker 2: the She's on the Money community. It's kind of like 199 00:09:12,080 --> 00:09:14,199 Speaker 2: you're already friends with the people in the community. 200 00:09:14,320 --> 00:09:17,560 Speaker 1: And yeah, so I really exciting to hear that. And yeah, 201 00:09:17,640 --> 00:09:20,000 Speaker 1: so and now I love it. So we're getting that. 202 00:09:20,760 --> 00:09:23,000 Speaker 2: So what is your big money goal? 203 00:09:23,640 --> 00:09:26,240 Speaker 1: Well, hopefully in four years, I want to get a 204 00:09:26,280 --> 00:09:29,000 Speaker 1: deposit for a house. That's pretty much my own goal. Obviously, 205 00:09:29,080 --> 00:09:31,679 Speaker 1: working in real estate, I kind of understand that and 206 00:09:31,720 --> 00:09:34,600 Speaker 1: I really want to achieve that. So yeah, in four years, 207 00:09:34,600 --> 00:09:36,959 Speaker 1: I really want to have at least one hundred thousand 208 00:09:37,000 --> 00:09:39,400 Speaker 1: dollars deposit. I know that's quite a big goal, but 209 00:09:39,760 --> 00:09:41,880 Speaker 1: I think with some good budgeting, I hope I can 210 00:09:41,920 --> 00:09:42,320 Speaker 1: get there. 211 00:09:42,840 --> 00:09:45,840 Speaker 2: I am more than positive that you will get there, 212 00:09:45,920 --> 00:09:48,480 Speaker 2: giving your income and how much you want it, Like 213 00:09:48,520 --> 00:09:50,600 Speaker 2: I can hear it in your voice. I feel like 214 00:09:50,640 --> 00:09:53,200 Speaker 2: maybe you feel a little bit disappointed in yourself, even 215 00:09:53,200 --> 00:09:55,120 Speaker 2: though you shouldn't, because at the end of the day, 216 00:09:55,160 --> 00:09:58,560 Speaker 2: you've achieved a pretty epic salary for your age, and 217 00:09:58,920 --> 00:10:01,520 Speaker 2: you've proven it before you can save, so why couldn't 218 00:10:01,559 --> 00:10:02,080 Speaker 2: you do it again? 219 00:10:02,760 --> 00:10:03,200 Speaker 1: Exactly? 220 00:10:03,240 --> 00:10:06,839 Speaker 2: Hopefully exactly, So talk to me about how you feel 221 00:10:06,840 --> 00:10:09,480 Speaker 2: about investing. Do you have any investments? 222 00:10:09,880 --> 00:10:13,000 Speaker 1: So I'm quite new to investing, obviously, after listening to 223 00:10:13,000 --> 00:10:15,880 Speaker 1: the podcast for a bit, I've started looking more into 224 00:10:16,080 --> 00:10:20,720 Speaker 1: raising spaceship. I did have rays for a couple of months, 225 00:10:20,800 --> 00:10:24,640 Speaker 1: which got to about five hundred dollars with roundups, but 226 00:10:24,800 --> 00:10:27,480 Speaker 1: now I've transferred all that into spaceship, so that's sitting 227 00:10:27,480 --> 00:10:29,160 Speaker 1: at about six hundred at the moment. 228 00:10:29,360 --> 00:10:32,080 Speaker 2: How good. I feel like you just don't notice it 229 00:10:32,120 --> 00:10:34,000 Speaker 2: coming out, and then all of a sudden you've got 230 00:10:34,000 --> 00:10:36,600 Speaker 2: six hundred dollars invested and you're like, wow, that was 231 00:10:36,679 --> 00:10:38,679 Speaker 2: definitely not as hard as I thought it was going 232 00:10:38,760 --> 00:10:38,920 Speaker 2: to be. 233 00:10:39,880 --> 00:10:42,480 Speaker 1: Yeah, exactly, especially with the roundups. But now I just 234 00:10:42,520 --> 00:10:45,560 Speaker 1: auto transfer, so I don't really see it. It's small, 235 00:10:45,640 --> 00:10:47,520 Speaker 1: but yeah, hopefully it keeps growing. 236 00:10:48,080 --> 00:10:52,080 Speaker 2: As I always say. Ryan from little things, big things 237 00:10:52,200 --> 00:10:54,760 Speaker 2: do grow. He's not quick enough, click enough. 238 00:10:54,800 --> 00:10:57,480 Speaker 3: You've caught me without my sound effects. 239 00:10:57,960 --> 00:10:59,920 Speaker 2: He's usually got a sound panel in front of you, 240 00:11:00,320 --> 00:11:02,400 Speaker 2: and that is one of your sounds because I don't 241 00:11:02,520 --> 00:11:04,520 Speaker 2: like it. But I knew he wasn't listening as well 242 00:11:04,559 --> 00:11:09,240 Speaker 2: as he should have been. I don't know, I can't remember. 243 00:11:09,559 --> 00:11:15,000 Speaker 2: I would love her from job all right. I would 244 00:11:15,160 --> 00:11:18,400 Speaker 2: love to know about any debts that you have and 245 00:11:18,679 --> 00:11:19,880 Speaker 2: how do you feel about them? 246 00:11:20,520 --> 00:11:23,760 Speaker 1: Well, thankfully, I don't have any debts. Obviously. I had 247 00:11:23,800 --> 00:11:25,560 Speaker 1: one when I was when I had my car, like 248 00:11:25,600 --> 00:11:27,880 Speaker 1: several years ago, but I paid that off I think 249 00:11:27,920 --> 00:11:30,800 Speaker 1: within the year. So again, younger me came through and 250 00:11:31,080 --> 00:11:33,280 Speaker 1: made sure I didn't have any debt for me now. 251 00:11:33,760 --> 00:11:35,840 Speaker 1: But I really don't like the sort of debt. I 252 00:11:35,880 --> 00:11:38,920 Speaker 1: think if it's purposeful, like a brgage, it makes sense 253 00:11:38,960 --> 00:11:42,000 Speaker 1: to me, but not like consumer debts. So I think 254 00:11:42,040 --> 00:11:46,280 Speaker 1: all the money that I've used throughout the years business savings, thankfully, 255 00:11:46,360 --> 00:11:48,480 Speaker 1: But yeah, don't really like the thought of it. 256 00:11:48,760 --> 00:11:52,840 Speaker 2: Absolutely, And what would it be your best money habit? 257 00:11:54,000 --> 00:11:58,080 Speaker 1: Well, my lovely mother she's always had really good money habits, 258 00:11:58,280 --> 00:12:01,720 Speaker 1: and she taught me at quite age to always put 259 00:12:01,760 --> 00:12:04,199 Speaker 1: more money into your super than you think, like than 260 00:12:04,360 --> 00:12:08,280 Speaker 1: your normal job does like put in for you. So 261 00:12:08,400 --> 00:12:11,520 Speaker 1: every fortnight I put in fifty dollars, So. 262 00:12:11,559 --> 00:12:14,720 Speaker 2: That's investing before when she's going to add up, that's 263 00:12:14,720 --> 00:12:16,600 Speaker 2: going to add up. So how long have you been 264 00:12:16,640 --> 00:12:17,000 Speaker 2: doing that? 265 00:12:17,480 --> 00:12:20,520 Speaker 1: Since I was like my first job, so like eighteen 266 00:12:20,760 --> 00:12:22,000 Speaker 1: seventeen something like that. 267 00:12:22,440 --> 00:12:24,640 Speaker 4: That's going to be worth hundreds of thousands of dollars 268 00:12:24,600 --> 00:12:24,920 Speaker 4: a year? 269 00:12:25,240 --> 00:12:26,880 Speaker 1: Do you know what that actually means? 270 00:12:26,880 --> 00:12:29,160 Speaker 4: Like that definitely if you keep doing that's such a 271 00:12:29,160 --> 00:12:29,720 Speaker 4: great I. 272 00:12:29,600 --> 00:12:32,440 Speaker 2: Feel like it was. I think it's really funny actually 273 00:12:32,480 --> 00:12:34,800 Speaker 2: because before when we said how do you feel about investing? 274 00:12:34,840 --> 00:12:37,240 Speaker 2: Do you invest? Like, the only thing you told me 275 00:12:37,240 --> 00:12:39,319 Speaker 2: about was that six hundred dollars that you've got in 276 00:12:39,360 --> 00:12:43,000 Speaker 2: a micro investing platform, where in reality, what you're telling 277 00:12:43,040 --> 00:12:45,760 Speaker 2: me is you've been investing in an additional fifty bucks 278 00:12:45,800 --> 00:12:49,920 Speaker 2: a week since you started working, and essentially you're adding 279 00:12:50,200 --> 00:12:52,520 Speaker 2: what's that Let me just think that's. 280 00:12:52,400 --> 00:12:53,920 Speaker 4: A fortnite or per week? 281 00:12:54,080 --> 00:12:56,680 Speaker 1: We literally that at fortnight a fortnight. 282 00:12:56,400 --> 00:12:58,680 Speaker 2: Oh that's twenty five bucks a week. But since you're eighteen, 283 00:12:58,760 --> 00:13:01,920 Speaker 2: that is epic. We had these posts on the she's 284 00:13:01,960 --> 00:13:04,000 Speaker 2: on the money Instagram the other day that if you 285 00:13:04,000 --> 00:13:06,720 Speaker 2: put an additional fifty dollars a week into your superannuation, 286 00:13:07,160 --> 00:13:09,360 Speaker 2: you would end up with like six hundred thousand dollars 287 00:13:09,480 --> 00:13:12,680 Speaker 2: more in your Super when you're retired. That's so much money. 288 00:13:12,880 --> 00:13:15,120 Speaker 3: Yeah, and also because of like all the compounding, the 289 00:13:15,160 --> 00:13:17,520 Speaker 3: fact that you started it not when you're thirty five, 290 00:13:17,640 --> 00:13:20,320 Speaker 3: you started at eighteen. That's gonna that's like one of 291 00:13:20,320 --> 00:13:22,040 Speaker 3: the best things you can do. If that's all you 292 00:13:22,120 --> 00:13:24,160 Speaker 3: did in your investment journey, that would be so. 293 00:13:24,040 --> 00:13:27,640 Speaker 2: Far ahead advice, but you can it would be helpful. 294 00:13:28,880 --> 00:13:32,240 Speaker 1: I just recently found out that Super actually does invest 295 00:13:32,360 --> 00:13:35,120 Speaker 1: I Honestly, for years, I thought it was just a 296 00:13:35,160 --> 00:13:37,720 Speaker 1: sau that there. Yeah, and so. 297 00:13:37,679 --> 00:13:40,960 Speaker 2: Many people think that, and so many people assume that 298 00:13:41,080 --> 00:13:45,200 Speaker 2: somehow it's not yours and it's not theirs, But in reality, 299 00:13:45,240 --> 00:13:48,240 Speaker 2: it is literally a minimum of nine point five percent 300 00:13:48,320 --> 00:13:52,000 Speaker 2: of your personal money that you earned being put into 301 00:13:52,040 --> 00:13:54,600 Speaker 2: an account for you that is then invested on your behalf. 302 00:13:54,600 --> 00:13:58,200 Speaker 2: And it baffles me that people don't care how it's 303 00:13:58,240 --> 00:14:00,600 Speaker 2: invested because they're like, oh, a little bit ages before 304 00:14:00,600 --> 00:14:02,360 Speaker 2: I can access it, and it's like, well, that's why 305 00:14:02,400 --> 00:14:06,480 Speaker 2: you actually should care why it's invested, because it's forcibly 306 00:14:06,760 --> 00:14:09,000 Speaker 2: invested for a long period of time and it's going 307 00:14:09,040 --> 00:14:11,920 Speaker 2: to be compounding over anyway, I just liked a round 308 00:14:11,960 --> 00:14:15,960 Speaker 2: about investments. Really, let's flip this question on its head 309 00:14:16,000 --> 00:14:18,520 Speaker 2: and ask you what your worst money habit is. 310 00:14:19,400 --> 00:14:22,640 Speaker 1: Definitely because I don't think before I spend, so I'm 311 00:14:22,640 --> 00:14:28,040 Speaker 1: definitely quite a big impulse shopper. Yes, I definitely act 312 00:14:28,080 --> 00:14:30,440 Speaker 1: on impulse. If I see it, I go, Yep, that's it. 313 00:14:30,520 --> 00:14:34,640 Speaker 1: It's stun It's in my cart. So yeah, that's probably 314 00:14:34,760 --> 00:14:36,400 Speaker 1: one of my worst money habits. 315 00:14:36,760 --> 00:14:39,400 Speaker 2: You could start putting twenty four hours between you and 316 00:14:39,400 --> 00:14:41,040 Speaker 2: your spending, which is another one of the things. I 317 00:14:41,080 --> 00:14:44,960 Speaker 2: feel like this has been a very quotable money diary 318 00:14:45,120 --> 00:14:45,760 Speaker 2: this week. 319 00:14:45,880 --> 00:14:49,120 Speaker 4: But instead of answering you, I'll just read future oh sorry, 320 00:14:49,200 --> 00:14:49,880 Speaker 4: former quotes. 321 00:14:50,040 --> 00:14:54,600 Speaker 2: Yeah, former quotes from my Instagram, which is slightly embarrassing. 322 00:14:54,640 --> 00:14:56,840 Speaker 2: But at the end of the day, I am very 323 00:14:56,840 --> 00:14:58,480 Speaker 2: similar to that, and one of the things that I 324 00:14:58,520 --> 00:15:01,240 Speaker 2: do is tell myself I can still have it if 325 00:15:01,280 --> 00:15:04,320 Speaker 2: I want it in twenty four hours, and more often 326 00:15:04,360 --> 00:15:06,240 Speaker 2: than not, I've gone cold on that item or I'm 327 00:15:06,280 --> 00:15:09,400 Speaker 2: a little bit apprehensive, And I think that when you 328 00:15:09,680 --> 00:15:12,160 Speaker 2: have issues, and I'm not saying massive issues, but when 329 00:15:12,160 --> 00:15:14,440 Speaker 2: you struggle a little bit with the impulse spending, it 330 00:15:14,480 --> 00:15:17,680 Speaker 2: can be really helpful to not say things to yourself 331 00:15:17,720 --> 00:15:19,840 Speaker 2: like no, I'm just not going to spend anymore. Like 332 00:15:19,880 --> 00:15:21,920 Speaker 2: that never works. It's like a diet. You're going to 333 00:15:22,000 --> 00:15:24,280 Speaker 2: crash and burn at some point. But saying you know what, 334 00:15:24,640 --> 00:15:27,240 Speaker 2: I can have it. I can just have it tomorrow 335 00:15:27,280 --> 00:15:29,440 Speaker 2: if I still want it. And the more time you 336 00:15:29,480 --> 00:15:32,160 Speaker 2: can put in between you and that purchase, the better 337 00:15:32,280 --> 00:15:33,040 Speaker 2: in my opinion. 338 00:15:33,680 --> 00:15:34,600 Speaker 1: Yeah, definitely. 339 00:15:35,040 --> 00:15:39,880 Speaker 2: Last and final question of the formal Money Diaries questions, 340 00:15:39,920 --> 00:15:43,160 Speaker 2: my friend, what grade would you give yourself if we 341 00:15:43,280 --> 00:15:45,840 Speaker 2: forced you to give yourself a financial grade? 342 00:15:46,120 --> 00:15:49,160 Speaker 1: I probably give yourself like a C minus, just because 343 00:15:49,200 --> 00:15:50,880 Speaker 1: I feel like I have a long way to go 344 00:15:51,040 --> 00:15:53,160 Speaker 1: and I need to just stick to my plan and 345 00:15:53,400 --> 00:15:56,520 Speaker 1: not go off it. So yeah, for now minus. 346 00:15:56,560 --> 00:15:58,400 Speaker 2: I'm not going to argue with you, because I never 347 00:15:58,520 --> 00:16:00,720 Speaker 2: argue with people, but I do you feel like you 348 00:16:00,800 --> 00:16:04,080 Speaker 2: might be being a little bit harsh on yourself? Definitely 349 00:16:04,080 --> 00:16:04,520 Speaker 2: a little bit. 350 00:16:04,560 --> 00:16:05,120 Speaker 4: I would argue. 351 00:16:05,160 --> 00:16:07,120 Speaker 3: An extra fifty bucks in your super A fortnight, isn't 352 00:16:07,120 --> 00:16:08,240 Speaker 3: it self worth a grade. 353 00:16:08,080 --> 00:16:11,720 Speaker 2: And a half. Yeah, exactly, I'm going to award you 354 00:16:11,760 --> 00:16:12,720 Speaker 2: with a B plus. 355 00:16:13,840 --> 00:16:15,640 Speaker 1: My mum to thank for that. But yeah, no, I'm 356 00:16:15,640 --> 00:16:16,760 Speaker 1: glad she put me on it. 357 00:16:17,560 --> 00:16:20,440 Speaker 2: Sheers mum. All right, thank you so much for answering 358 00:16:20,520 --> 00:16:22,880 Speaker 2: those questions. We will be back in just a second. 359 00:16:31,040 --> 00:16:34,000 Speaker 2: All right, let's dive straight back in. Ryan, what did 360 00:16:34,040 --> 00:16:35,240 Speaker 2: you think of that money diary? 361 00:16:35,440 --> 00:16:36,680 Speaker 4: Well, I think lifestyle creeper. 362 00:16:37,480 --> 00:16:40,480 Speaker 3: I think the first thing just realizing that she wants 363 00:16:40,520 --> 00:16:42,240 Speaker 3: to make it change. I feel like we both feel 364 00:16:42,480 --> 00:16:43,240 Speaker 3: that is that. 365 00:16:43,600 --> 00:16:45,600 Speaker 2: I feel like you're I feel like it's very genuine 366 00:16:45,680 --> 00:16:48,400 Speaker 2: lifestyle creeper is still here to join this conversation. By 367 00:16:48,440 --> 00:16:51,200 Speaker 2: the way, lifestyle creeper, how did your money diary go? 368 00:16:51,320 --> 00:16:53,400 Speaker 2: In your opinion? Did you like the questions? Did you 369 00:16:53,440 --> 00:16:55,640 Speaker 2: not like talking to me? Who knows? Oh? 370 00:16:55,640 --> 00:16:57,840 Speaker 1: I loved it. Yeah. It's good to yeah, get it 371 00:16:57,880 --> 00:17:00,880 Speaker 1: all out there and have a chat. Yeah, very exciting. 372 00:17:01,320 --> 00:17:03,920 Speaker 3: So what was the moment you realized that you were, 373 00:17:04,080 --> 00:17:06,080 Speaker 3: in fact a bit of a lifestyle creeper and that 374 00:17:06,119 --> 00:17:08,960 Speaker 3: you wanted to do something about Obviously, you've just discovered 375 00:17:09,080 --> 00:17:11,880 Speaker 3: she's on the money. You've noticed that you're saving dwindling. 376 00:17:11,920 --> 00:17:13,120 Speaker 3: Was there a bit of a line in the sand 377 00:17:13,160 --> 00:17:14,639 Speaker 3: moment where you went, oh, hang on a second, I 378 00:17:14,720 --> 00:17:16,760 Speaker 3: actually want to make a few changes here. 379 00:17:17,160 --> 00:17:18,840 Speaker 1: Yeah. I think it was kind of like one of 380 00:17:18,840 --> 00:17:26,200 Speaker 1: those cliche years resolution style realization you k you me? Yeah, 381 00:17:26,240 --> 00:17:28,640 Speaker 1: pretty much. And I think after I got the new 382 00:17:28,760 --> 00:17:32,080 Speaker 1: job coming into the new year, and I guess taking 383 00:17:32,119 --> 00:17:34,280 Speaker 1: I took quite a bit of time off work as well, 384 00:17:34,480 --> 00:17:36,720 Speaker 1: so I think again, I had a lot of time 385 00:17:36,760 --> 00:17:39,480 Speaker 1: to sit and realize and yeah, I just want to 386 00:17:39,480 --> 00:17:43,200 Speaker 1: get my act together and get back to my former 387 00:17:43,280 --> 00:17:46,080 Speaker 1: younger self and how good I was with saving So yah. 388 00:17:46,240 --> 00:17:49,320 Speaker 2: I do have a question about your former younger self. 389 00:17:50,200 --> 00:17:52,679 Speaker 2: You said in your email to us that you saved 390 00:17:52,720 --> 00:17:55,920 Speaker 2: about twenty five thousand dollars on a forty thousand dollars salary, 391 00:17:55,960 --> 00:17:59,960 Speaker 2: which to me is wild. What were your circumstances then? 392 00:18:00,080 --> 00:18:02,399 Speaker 2: Were you living at home or are you renting with friends? 393 00:18:02,440 --> 00:18:02,560 Speaker 4: Like? 394 00:18:02,880 --> 00:18:04,560 Speaker 2: What were your living circumstances? 395 00:18:05,119 --> 00:18:07,320 Speaker 1: Yeah, I was pretty lucky. I was still living at 396 00:18:07,320 --> 00:18:11,080 Speaker 1: home with my mum, so again pretty much had next 397 00:18:11,119 --> 00:18:16,320 Speaker 1: to no bills, which allowed me to say so much money, yeah, exactly, 398 00:18:17,080 --> 00:18:18,880 Speaker 1: And then I was able to also pay my car 399 00:18:18,960 --> 00:18:20,919 Speaker 1: if within any year. So again that led me to 400 00:18:21,000 --> 00:18:24,320 Speaker 1: not having any debt. So definitely staying with my mum 401 00:18:24,359 --> 00:18:27,280 Speaker 1: for as long as I did helped a lot. And 402 00:18:27,320 --> 00:18:29,280 Speaker 1: I think I was just really good with savings. I 403 00:18:29,320 --> 00:18:31,880 Speaker 1: loved the idea of looking at my account and having 404 00:18:31,920 --> 00:18:34,480 Speaker 1: that much money in there. But yeah, I think as 405 00:18:34,560 --> 00:18:37,280 Speaker 1: I crept up and I got more more of a 406 00:18:37,320 --> 00:18:40,040 Speaker 1: salary behind me, I just wanted to, I guess, for 407 00:18:40,160 --> 00:18:42,680 Speaker 1: rule with myself and stretch my budget. 408 00:18:42,840 --> 00:18:45,640 Speaker 2: But yeah, I think I'm to be a little streak down. 409 00:18:45,760 --> 00:18:48,200 Speaker 4: Yeah. So did you when you got the job? 410 00:18:48,560 --> 00:18:50,600 Speaker 3: Did you kind of readjust the plan or you kind 411 00:18:50,640 --> 00:18:52,719 Speaker 3: of just started getting the money and spending it and 412 00:18:52,760 --> 00:18:54,720 Speaker 3: it's like you didn't even sort of really think about 413 00:18:54,760 --> 00:18:55,320 Speaker 3: it too much. 414 00:18:55,960 --> 00:18:58,680 Speaker 1: I definitely didn't think about it a lot the last 415 00:18:58,720 --> 00:19:00,760 Speaker 1: couple of years. But I think now that I've gotten 416 00:19:00,880 --> 00:19:03,320 Speaker 1: the job that I'm in, it was kind of a 417 00:19:03,320 --> 00:19:06,880 Speaker 1: big realization to realize, I guess the salary that I'm 418 00:19:06,880 --> 00:19:08,600 Speaker 1: on in the position that I'm in, because I still 419 00:19:08,680 --> 00:19:12,960 Speaker 1: don't have a lot of I guess expenses in my life, 420 00:19:13,040 --> 00:19:15,280 Speaker 1: so I really want to, I guess, utilize that as 421 00:19:15,359 --> 00:19:17,720 Speaker 1: much as I can, because I think with COVID as well. 422 00:19:17,760 --> 00:19:20,439 Speaker 1: That kind of also made me have a big realization 423 00:19:20,600 --> 00:19:23,520 Speaker 1: where I'm in such a lucky position where i still 424 00:19:23,520 --> 00:19:25,480 Speaker 1: have a job, so I don't really want to take 425 00:19:25,520 --> 00:19:28,359 Speaker 1: that for advantage and yeah, get more money behind me again. 426 00:19:28,520 --> 00:19:31,679 Speaker 4: Now this is more of a question for the UH. 427 00:19:32,400 --> 00:19:34,520 Speaker 3: We talked about the money course before which our lafe 428 00:19:34,520 --> 00:19:37,600 Speaker 3: style creeper is going to do the budgeting in Cashlow Masterclass. 429 00:19:37,920 --> 00:19:42,679 Speaker 3: How often should you check in on that updated change it? 430 00:19:42,760 --> 00:19:44,639 Speaker 4: Think about it? Is it just you've done your budget 431 00:19:44,680 --> 00:19:45,200 Speaker 4: then it's done? 432 00:19:45,400 --> 00:19:47,240 Speaker 2: Or no no, no, no, no no. And I think 433 00:19:47,280 --> 00:19:49,960 Speaker 2: that I think this is such a common misconception when 434 00:19:49,960 --> 00:19:52,800 Speaker 2: it comes to budgeting that you have to outline how 435 00:19:52,920 --> 00:19:55,439 Speaker 2: much your money is going to be allocated to so 436 00:19:55,480 --> 00:19:57,119 Speaker 2: you'd be like, Okay, I'm going to give myself one 437 00:19:57,160 --> 00:19:59,600 Speaker 2: hundred dollars for groceries and I'll just make that work. 438 00:20:00,160 --> 00:20:02,800 Speaker 2: Kind of the opposite with the budget and Cashlely Masterclass, 439 00:20:02,840 --> 00:20:05,080 Speaker 2: it's a bit more about okay, well, what are we 440 00:20:05,200 --> 00:20:08,480 Speaker 2: really spending. Let's actually allocate what we're spending so that 441 00:20:08,560 --> 00:20:10,719 Speaker 2: one we can see that and it's reflected back to us, 442 00:20:10,720 --> 00:20:13,359 Speaker 2: so we can make some positive changes if we need to, 443 00:20:13,800 --> 00:20:16,359 Speaker 2: but being really a stick with it, it's not about, hey, 444 00:20:16,440 --> 00:20:19,320 Speaker 2: we need to fit into this category because Ryan, you 445 00:20:19,400 --> 00:20:22,520 Speaker 2: might prefer to spend three hundred dollars a week on 446 00:20:22,560 --> 00:20:25,280 Speaker 2: groceries because you really like Gormet food and that's the 447 00:20:25,440 --> 00:20:28,200 Speaker 2: one thing that you spend money on, whereas I might 448 00:20:28,240 --> 00:20:31,240 Speaker 2: be super frugal and only want to spend fifty dollars 449 00:20:31,240 --> 00:20:34,359 Speaker 2: a week on groceries, but I have a really expensive 450 00:20:34,440 --> 00:20:36,720 Speaker 2: gym membership where I'm spending you know, one hundred bucks 451 00:20:36,720 --> 00:20:39,119 Speaker 2: a week on that. So everybody's values are different, and 452 00:20:39,160 --> 00:20:41,199 Speaker 2: I find it really terrible when people say, well, that's 453 00:20:41,240 --> 00:20:44,120 Speaker 2: what your budget should be, when then reality that's not when. 454 00:20:44,240 --> 00:20:46,879 Speaker 3: Experts inverted commas come out and say, well, obviously you 455 00:20:47,040 --> 00:20:48,920 Speaker 3: only spend seven percent of this on the arte. 456 00:20:49,080 --> 00:20:51,600 Speaker 2: Yeah, and I don't wear com percentages ever, as you 457 00:20:51,640 --> 00:20:54,040 Speaker 2: guys would know. But for me, I think it's just 458 00:20:54,080 --> 00:20:56,920 Speaker 2: more about having a good budget is going to help 459 00:20:56,960 --> 00:20:59,359 Speaker 2: you understand what you're spending so you know what you 460 00:20:59,400 --> 00:21:02,320 Speaker 2: want to spend, then where you can actually save because 461 00:21:02,400 --> 00:21:04,639 Speaker 2: most of the money that you are spending at the 462 00:21:04,640 --> 00:21:12,960 Speaker 2: moment is obviously discretionary, but it slips through the crap sorry, 463 00:21:13,720 --> 00:21:18,240 Speaker 2: I can't. I can't. It slips through the cracks and 464 00:21:18,560 --> 00:21:20,960 Speaker 2: you just spend it without even thinking, whereas if you 465 00:21:21,080 --> 00:21:23,760 Speaker 2: actually allocated that money to an account that you knew 466 00:21:23,760 --> 00:21:26,040 Speaker 2: you could blow, you feel a little bit more in 467 00:21:26,080 --> 00:21:28,720 Speaker 2: control of your money. But come back to the question 468 00:21:28,800 --> 00:21:32,160 Speaker 2: you were really asking, I'm just really passionate about budgets. 469 00:21:32,640 --> 00:21:34,960 Speaker 2: I genuinely think you should be checking in on your 470 00:21:34,960 --> 00:21:38,960 Speaker 2: budget officially once a month to just check in on things. 471 00:21:39,000 --> 00:21:40,520 Speaker 2: I don't think you need to check it each and 472 00:21:40,560 --> 00:21:44,399 Speaker 2: every single week, because every week money is different. But 473 00:21:44,440 --> 00:21:46,600 Speaker 2: on a monthly basis, I think you should sit down 474 00:21:46,600 --> 00:21:49,879 Speaker 2: with your budget, tweak it a little bit, and move forward. 475 00:21:50,000 --> 00:21:52,080 Speaker 2: And that's kind of what And I feel like I'm 476 00:21:52,080 --> 00:21:53,960 Speaker 2: an ad right now and I don't mean to be, 477 00:21:54,160 --> 00:21:56,679 Speaker 2: but I think that's what's so good about the budget 478 00:21:56,680 --> 00:21:59,159 Speaker 2: and Cashually master class because it's actually all automated. So 479 00:21:59,200 --> 00:22:01,119 Speaker 2: if one of your expense changes, you just go in 480 00:22:01,160 --> 00:22:03,359 Speaker 2: and change it, and the whole cash low system updates 481 00:22:03,359 --> 00:22:05,320 Speaker 2: because I've automated it, which is kind of fun. 482 00:22:05,440 --> 00:22:05,640 Speaker 4: Yeah. 483 00:22:05,680 --> 00:22:08,720 Speaker 2: So I think less work, which is what we're all about. 484 00:22:09,320 --> 00:22:10,919 Speaker 3: I think once you get that set up, and I 485 00:22:10,920 --> 00:22:12,879 Speaker 3: think when you were saying you've started to set up 486 00:22:12,880 --> 00:22:15,359 Speaker 3: different bank accounts to allocate. I feel like you're already 487 00:22:15,440 --> 00:22:17,720 Speaker 3: positioned to you know, you've got your head in the 488 00:22:17,760 --> 00:22:19,600 Speaker 3: game for that. So do you feel pretty confident once 489 00:22:19,600 --> 00:22:20,360 Speaker 3: you get that set up? 490 00:22:20,880 --> 00:22:23,280 Speaker 1: Oh? Definitely, I hope so. And obviously, you know with 491 00:22:23,440 --> 00:22:26,439 Speaker 1: the master cast, I'm hoping that because we'll get sorted 492 00:22:26,480 --> 00:22:27,920 Speaker 1: and I can get more money behind me. 493 00:22:28,680 --> 00:22:31,600 Speaker 2: Random Ryan And this has absolutely nothing to do with 494 00:22:31,640 --> 00:22:34,000 Speaker 2: the Money Diary, But I have been asked so many 495 00:22:34,040 --> 00:22:36,440 Speaker 2: times for this and I haven't been able to produce 496 00:22:36,480 --> 00:22:38,720 Speaker 2: it yet because it's far more complicated than I thought 497 00:22:38,760 --> 00:22:40,400 Speaker 2: it was going to be. Because, as you know, I'm 498 00:22:40,400 --> 00:22:43,560 Speaker 2: a bit of an EXL nerd. I would say nerd 499 00:22:43,760 --> 00:22:47,720 Speaker 2: wizard maybe, but I built this very very complicated Excel. 500 00:22:48,040 --> 00:22:50,560 Speaker 2: You guys, it's easy for you, it's just the background. 501 00:22:50,880 --> 00:22:53,600 Speaker 2: Transferring that to Google Sheets has been a nightmare. But 502 00:22:53,720 --> 00:22:56,000 Speaker 2: I have successfully done it and it is now up 503 00:22:56,040 --> 00:22:56,560 Speaker 2: and running. 504 00:22:57,320 --> 00:22:59,480 Speaker 4: Yea, So is that people requesting Google Sheets? 505 00:22:59,560 --> 00:23:02,320 Speaker 2: Yeah, because not everybody has Excel. And I didn't realize 506 00:23:02,359 --> 00:23:05,000 Speaker 2: that not everybody had Excel because I'm a potato and 507 00:23:05,000 --> 00:23:07,879 Speaker 2: now we have Googue and it is universal. What a dream. 508 00:23:08,000 --> 00:23:10,200 Speaker 4: Well, that is a dream, and for an excel NERD 509 00:23:10,440 --> 00:23:12,480 Speaker 4: like yourself. I'm proud of you. Thank you, and I 510 00:23:12,520 --> 00:23:13,960 Speaker 4: know you're proud of yourself because I can see you. 511 00:23:15,400 --> 00:23:17,480 Speaker 2: Jess ask. Yes, she'll chime in on this later. Are 512 00:23:17,480 --> 00:23:19,200 Speaker 2: we going to talk about this on Friday? Dreams? 513 00:23:19,440 --> 00:23:21,359 Speaker 4: Sorry to keep it calling you lifestyle creeper. It sounds 514 00:23:21,359 --> 00:23:22,360 Speaker 4: weird and very impersonal. 515 00:23:22,400 --> 00:23:26,920 Speaker 3: But I'm curious why you moved from Raised to Spaceship, 516 00:23:26,960 --> 00:23:29,840 Speaker 3: because I think they don't all get approved. But I 517 00:23:29,880 --> 00:23:33,359 Speaker 3: reckon someone probably puts in the Facebook group, which one. 518 00:23:33,240 --> 00:23:35,439 Speaker 4: Do I go like, it's an ongoing. 519 00:23:34,920 --> 00:23:36,439 Speaker 2: Conversation choice now. 520 00:23:36,680 --> 00:23:38,600 Speaker 3: And there's lots of yeah. So there's lots of pros 521 00:23:38,600 --> 00:23:40,760 Speaker 3: and cons and some is better for some and not 522 00:23:40,800 --> 00:23:43,320 Speaker 3: for others. So I'm just curious your personal thoughts on 523 00:23:43,359 --> 00:23:45,320 Speaker 3: why you switched across because I'm with both. 524 00:23:45,359 --> 00:23:46,080 Speaker 4: I think, yes, I. 525 00:23:46,040 --> 00:23:50,000 Speaker 1: Am, yeah, I think because I have been reading a 526 00:23:50,040 --> 00:23:54,879 Speaker 1: lot up onto it more and I didn't realize silly 527 00:23:54,960 --> 00:23:57,679 Speaker 1: me didn't check before. But I do realize obviously, with 528 00:23:57,760 --> 00:23:59,879 Speaker 1: the amount that I was putting in versus the fees 529 00:24:00,080 --> 00:24:02,440 Speaker 1: they were charging, it just it just didn't make sense 530 00:24:02,480 --> 00:24:04,800 Speaker 1: to keep it there because I don't didn't have a 531 00:24:04,920 --> 00:24:08,240 Speaker 1: very big account, so I think go into Spaceship because 532 00:24:08,240 --> 00:24:10,639 Speaker 1: they don't charge fees on the five thousand dollars like 533 00:24:10,640 --> 00:24:12,960 Speaker 1: if you have that in your account, which is why 534 00:24:12,960 --> 00:24:15,240 Speaker 1: I transferred to Spaceship. 535 00:24:16,560 --> 00:24:19,920 Speaker 2: While I learned yeah fair and I think Raise recently 536 00:24:19,960 --> 00:24:22,080 Speaker 2: have upped their fees, which. 537 00:24:21,840 --> 00:24:23,959 Speaker 3: Is that email came out last week because yeh, I'm 538 00:24:23,960 --> 00:24:25,800 Speaker 3: going user. So I got that email. I was like interesting, 539 00:24:25,800 --> 00:24:27,720 Speaker 3: and I actually thought, I wonder if anyone else and 540 00:24:27,800 --> 00:24:29,520 Speaker 3: choes and the Money's got this email. And literally as 541 00:24:29,560 --> 00:24:31,200 Speaker 3: I was thinking that, it pops up in the group 542 00:24:31,200 --> 00:24:32,480 Speaker 3: and anyone I'll see this. 543 00:24:32,680 --> 00:24:33,639 Speaker 2: Everybody saw it. 544 00:24:34,040 --> 00:24:34,639 Speaker 4: Absolutely. 545 00:24:34,720 --> 00:24:37,679 Speaker 2: It's actually really interesting because as much as we compare 546 00:24:37,720 --> 00:24:40,160 Speaker 2: them all the time, and this is absolutely not sponsored 547 00:24:40,160 --> 00:24:43,040 Speaker 2: as just my honest opinion and views on this, but 548 00:24:43,480 --> 00:24:46,640 Speaker 2: Raise and Spaceship are two very different products and they 549 00:24:46,680 --> 00:24:51,040 Speaker 2: look very similar because they're both investing platforms. But Raise 550 00:24:51,200 --> 00:24:54,600 Speaker 2: is more about having ETFs and they're kind of run 551 00:24:54,720 --> 00:24:57,320 Speaker 2: in a fund where Raise has picked those and then 552 00:24:57,440 --> 00:25:00,720 Speaker 2: picks it in relation to your risk profile. But then 553 00:25:01,000 --> 00:25:04,520 Speaker 2: Spaceship actually has its own fund which is kind of cool, 554 00:25:04,520 --> 00:25:07,040 Speaker 2: and you put your money directly into their fund, which 555 00:25:07,080 --> 00:25:09,280 Speaker 2: is why they're able to not have as high a 556 00:25:09,400 --> 00:25:12,000 Speaker 2: fees and usually take a little bit more risk, but 557 00:25:12,160 --> 00:25:14,520 Speaker 2: they don't take into consideration your risk profile. 558 00:25:14,800 --> 00:25:17,879 Speaker 3: Now, normally we'd say check the pds, and that's obviously 559 00:25:17,880 --> 00:25:18,840 Speaker 3: the case still. 560 00:25:18,600 --> 00:25:19,840 Speaker 2: But obviously check the pds. 561 00:25:20,000 --> 00:25:21,800 Speaker 4: Go and check the graphic on our Instagram. 562 00:25:21,840 --> 00:25:24,040 Speaker 3: Because as weird as that is for financial advice, we 563 00:25:24,080 --> 00:25:25,760 Speaker 3: actually have a really great thing that kind of says, 564 00:25:25,800 --> 00:25:27,800 Speaker 3: here's the pros and cons of both people are saying, 565 00:25:27,960 --> 00:25:30,040 Speaker 3: what is the difference, what's the deal? It's a really 566 00:25:30,040 --> 00:25:31,000 Speaker 3: great place to start. 567 00:25:30,840 --> 00:25:32,520 Speaker 2: And I'm like, why don't you just go on Instagram? 568 00:25:32,520 --> 00:25:34,560 Speaker 2: But don't go on Instagram for your financial advice because 569 00:25:34,560 --> 00:25:37,000 Speaker 2: that's terrible. But you know, I actually wanted to ask 570 00:25:37,040 --> 00:25:39,960 Speaker 2: about goals really quickly because you said that you make 571 00:25:40,080 --> 00:25:42,800 Speaker 2: large goals and you always make budgets. Can you tell 572 00:25:42,880 --> 00:25:46,240 Speaker 2: us a little bit about how you're creating these budgets 573 00:25:46,280 --> 00:25:48,160 Speaker 2: and maybe why they're not working for you at the moment, 574 00:25:48,200 --> 00:25:50,359 Speaker 2: because I think so many people are listening to this 575 00:25:50,440 --> 00:25:52,119 Speaker 2: and they're like, I really need a budget, but like, 576 00:25:52,160 --> 00:25:53,920 Speaker 2: why haven't yours worked for you yet? 577 00:25:55,200 --> 00:25:58,680 Speaker 1: I think I'm being too strict with myself. I want 578 00:25:58,720 --> 00:26:00,560 Speaker 1: to have these big goals and I really want to 579 00:26:00,600 --> 00:26:03,280 Speaker 1: achieve things, and I think in such a short time 580 00:26:03,359 --> 00:26:05,439 Speaker 1: frame and I'm just not able to stick to it 581 00:26:05,480 --> 00:26:08,359 Speaker 1: with like the lifestyle that I want to live. So 582 00:26:08,440 --> 00:26:10,760 Speaker 1: I think I just need to be more realistic with 583 00:26:10,800 --> 00:26:13,440 Speaker 1: my goals and not cut myself short because it looks 584 00:26:13,440 --> 00:26:17,040 Speaker 1: great on paper, but in real life it's just not ideal. 585 00:26:17,440 --> 00:26:19,639 Speaker 2: I once you did a big workout plan on paper, 586 00:26:19,800 --> 00:26:22,119 Speaker 2: like I even spreadsheeted it out, like I'm going to 587 00:26:22,160 --> 00:26:23,600 Speaker 2: work out three days a week, this is how many 588 00:26:23,600 --> 00:26:26,440 Speaker 2: calories I'm going to eat, and it just didn't work. Surprisingly, 589 00:26:26,720 --> 00:26:27,960 Speaker 2: you can have all the plans in the world. 590 00:26:28,040 --> 00:26:31,360 Speaker 3: I was just about to say, I've thought, oh I'm 591 00:26:31,359 --> 00:26:33,960 Speaker 3: going to lose ten kilos where the goal should be 592 00:26:34,400 --> 00:26:37,159 Speaker 3: I'm going to eat well tomorrow. And then, like you know, 593 00:26:37,160 --> 00:26:39,960 Speaker 3: if you shouldn't set the goals really small. And I 594 00:26:40,000 --> 00:26:41,879 Speaker 3: actually saw this video the other day. It was a 595 00:26:41,880 --> 00:26:44,919 Speaker 3: bit self helping and whatever, but it said, are you 596 00:26:45,040 --> 00:26:47,639 Speaker 3: setting the bar low enough? Because when you set the 597 00:26:47,680 --> 00:26:49,479 Speaker 3: bar high, you just fail and you go, oh, this 598 00:26:49,520 --> 00:26:51,520 Speaker 3: is not worth it. But if the bar is low enough, 599 00:26:51,560 --> 00:26:53,919 Speaker 3: I me just not eating takeaway tomorrow. 600 00:26:54,040 --> 00:26:56,520 Speaker 2: I like that we can replace the She's on the 601 00:26:56,520 --> 00:26:59,680 Speaker 2: money slogan instead of millennials who want financial freedom will 602 00:26:59,680 --> 00:27:01,880 Speaker 2: be like linnials who set their bars really low. 603 00:27:02,960 --> 00:27:05,680 Speaker 4: But money Dice, does that resonate with you in terms 604 00:27:05,720 --> 00:27:06,120 Speaker 4: of if you. 605 00:27:06,119 --> 00:27:10,160 Speaker 3: Just had really little achievable goals and I mean, i'd. 606 00:27:09,920 --> 00:27:12,200 Speaker 2: Hate to say from I'm not going to say it. 607 00:27:12,359 --> 00:27:15,120 Speaker 4: I'd hate to say what would you hate to say? 608 00:27:15,200 --> 00:27:15,440 Speaker 2: Ryan? 609 00:27:19,240 --> 00:27:20,160 Speaker 4: But does that sort of make sense? 610 00:27:20,200 --> 00:27:22,080 Speaker 2: And it's start paying royalties on that? 611 00:27:22,320 --> 00:27:24,240 Speaker 3: No, it's less than thirty seconds I looked at up. 612 00:27:26,480 --> 00:27:28,439 Speaker 3: But money Dice, does that feel right for you? If 613 00:27:28,480 --> 00:27:31,600 Speaker 3: you made smaller goals that were achievable and you could like, yes, 614 00:27:31,800 --> 00:27:34,600 Speaker 3: I'm doing it. Was that probably a better idea than 615 00:27:34,760 --> 00:27:36,480 Speaker 3: trying to say, for a house, you know, and that's 616 00:27:36,520 --> 00:27:37,440 Speaker 3: the only goal in mind? 617 00:27:38,000 --> 00:27:41,160 Speaker 1: Yeah? Most definitely. I think just yeah, just chipping out 618 00:27:41,160 --> 00:27:43,760 Speaker 1: it very slowly while still being able to live the 619 00:27:43,840 --> 00:27:47,159 Speaker 1: last that I want to Then Yeah. 620 00:27:46,240 --> 00:27:48,919 Speaker 2: I actually want to talk about that really quickly, because 621 00:27:48,960 --> 00:27:52,439 Speaker 2: you said breaking stuff down and having small goals, but 622 00:27:52,480 --> 00:27:54,560 Speaker 2: I want to really point out that it's not about 623 00:27:54,600 --> 00:27:56,840 Speaker 2: just having small goals. It's about having that big goal 624 00:27:56,880 --> 00:28:01,360 Speaker 2: and then breaking it down smaller goals and making sure 625 00:28:01,400 --> 00:28:03,480 Speaker 2: that that works for you. So say you wanted to 626 00:28:03,520 --> 00:28:06,720 Speaker 2: save ten thousand dollars in one year towards your goal, 627 00:28:07,160 --> 00:28:09,480 Speaker 2: and you said, all right, well, what's that per month. 628 00:28:09,520 --> 00:28:11,879 Speaker 2: That's eight hundred and thirty three dollars a month. And 629 00:28:11,880 --> 00:28:13,840 Speaker 2: if you can't afford that, I think that then you 630 00:28:13,920 --> 00:28:16,679 Speaker 2: have to reassess that big goal because you're shooting yourself 631 00:28:16,680 --> 00:28:18,840 Speaker 2: in the foot if you can't actually afford that, if 632 00:28:18,840 --> 00:28:20,560 Speaker 2: you don't get paid on a monthly basis and you're 633 00:28:20,560 --> 00:28:22,919 Speaker 2: saving on a weekly basis. If we look at that 634 00:28:22,960 --> 00:28:25,880 Speaker 2: ten thousand dollars divided amongst the weeks in the year, 635 00:28:25,920 --> 00:28:28,520 Speaker 2: so fifty two, it's about two hundred dollars a week 636 00:28:28,600 --> 00:28:30,320 Speaker 2: or one hundred and ninety two dollars a week to 637 00:28:30,320 --> 00:28:32,600 Speaker 2: save ten grand. So if you break it down and 638 00:28:32,680 --> 00:28:35,680 Speaker 2: then those little goals feel too big still, I think 639 00:28:35,720 --> 00:28:38,600 Speaker 2: that's when you have to really reassess again, because if 640 00:28:38,600 --> 00:28:41,160 Speaker 2: the little things feel too big, then the big thing 641 00:28:41,320 --> 00:28:42,560 Speaker 2: was definitely too big. 642 00:28:43,200 --> 00:28:45,520 Speaker 3: We often get messages in the group that are like, 643 00:28:45,640 --> 00:28:47,560 Speaker 3: I'm able to save five hundred a month and I 644 00:28:47,560 --> 00:28:49,320 Speaker 3: want to have sixty grand by the end of the year, 645 00:28:49,760 --> 00:28:51,120 Speaker 3: and we're always a bit like, oh. 646 00:28:51,040 --> 00:28:52,920 Speaker 2: Mane maths doesn't check out my friend. 647 00:28:53,040 --> 00:28:54,880 Speaker 4: Yeah, so if you lack v said, break it down 648 00:28:54,920 --> 00:28:55,800 Speaker 4: into small little bits. 649 00:28:56,040 --> 00:28:57,520 Speaker 2: Now, I don't want to be I don't want to 650 00:28:57,520 --> 00:28:59,720 Speaker 2: be rude, but that doesn't equal that. 651 00:29:00,280 --> 00:29:04,360 Speaker 3: But I feel Money Diarist that even just looking for 652 00:29:04,400 --> 00:29:08,280 Speaker 3: a finance podcast reaching out to us, really having a 653 00:29:08,320 --> 00:29:09,040 Speaker 3: good intention and. 654 00:29:09,040 --> 00:29:09,520 Speaker 4: A big goal. 655 00:29:09,600 --> 00:29:11,960 Speaker 3: I feel like you're ready to really get this into 656 00:29:12,000 --> 00:29:13,840 Speaker 3: action and put yourself in a really good spot. 657 00:29:13,840 --> 00:29:15,080 Speaker 4: I'm feeling confident for you. 658 00:29:16,360 --> 00:29:19,960 Speaker 1: Thank you. No, I definitely want to so fingers across. Yes, 659 00:29:20,240 --> 00:29:21,520 Speaker 1: that's excited for you, and. 660 00:29:21,480 --> 00:29:23,600 Speaker 2: It's very generous of you to share your story with 661 00:29:23,720 --> 00:29:25,680 Speaker 2: us as well. We're really really grateful for it. So 662 00:29:25,760 --> 00:29:27,920 Speaker 2: thank you so so much for joining us today. 663 00:29:28,760 --> 00:29:30,160 Speaker 1: No way, thank you guys so much. 664 00:29:32,280 --> 00:29:34,880 Speaker 2: So that is the Money Diary for today. But just 665 00:29:34,960 --> 00:29:37,320 Speaker 2: before we head off, we'd like to acknowledge and pay 666 00:29:37,400 --> 00:29:41,280 Speaker 2: respect to Australia's Aboriginal and Torris Strait Islander people's, the 667 00:29:41,360 --> 00:29:44,840 Speaker 2: traditional custodians of the lands, the waterways and the skies 668 00:29:44,880 --> 00:29:48,160 Speaker 2: all across Australia. We thank you for sharing and caring 669 00:29:48,200 --> 00:29:50,480 Speaker 2: for the land on which we are able to learn, 670 00:29:50,840 --> 00:29:53,280 Speaker 2: We pay our respects to elders past and present, and 671 00:29:53,320 --> 00:29:56,320 Speaker 2: we share our friendship and our kindness. Now, Georgia King 672 00:29:56,400 --> 00:29:58,440 Speaker 2: usually does a better job than me at this, but 673 00:29:58,880 --> 00:30:00,720 Speaker 2: the advice shared on she He's on the Money is 674 00:30:00,840 --> 00:30:04,360 Speaker 2: general in nature and does not consider your individual circumstances. 675 00:30:04,600 --> 00:30:07,360 Speaker 2: She's on the Money exists purely for educational purposes and 676 00:30:07,400 --> 00:30:09,600 Speaker 2: should not be relied upon to make an investment or 677 00:30:09,600 --> 00:30:13,080 Speaker 2: a financial decision. And we promise I am an authorized 678 00:30:13,120 --> 00:30:17,680 Speaker 2: representative of Australia Pacific Funds Management Proprietary Limited ABN three 679 00:30:17,720 --> 00:30:19,920 Speaker 2: four one three two four six three two five seven 680 00:30:20,040 --> 00:30:23,320 Speaker 2: AFOSL three three nine one five one and as always, 681 00:30:23,360 --> 00:30:26,200 Speaker 2: thank you so much to our angel producers for putting 682 00:30:26,200 --> 00:30:27,080 Speaker 2: this all together