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Speaker 1: My name is Satasha Bamblet. I'm a proud First Nations

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Speaker 1: woman and I'm here to acknowledge country te glennyan Ganya,

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Speaker 1: Niana Kaka yah y and Binahaka nian Arka In, Nimbini,

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Speaker 1: yakarum Jar Doumayagumika Umaga, Ihowaka, nilewaman damind Imlan Bumba, bang

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Speaker 1: gadaboma in and now in Waka Ghana and yak rum

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Speaker 1: Jar Watanadana. Hello, beautiful friends, we gather on the lands

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Speaker 1: of the Aboriginal people. We thank acknowledge and respect the

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Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure

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Speaker 1: in all the land and respect all that you see.

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Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,

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Speaker 1: bringing you the tools, knowledge and resources for you to thrive.

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Speaker 2: Hello, and welcome to She's on the Money, the podcast

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Speaker 2: that lets you be pervy about other people's money habits

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Speaker 2: for educational purposes, of course. Welcome back to another one

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Speaker 2: of our Money Diaries episodes brought to you by our

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Speaker 2: friends at sky Weals, where I get the absolute privilege

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Speaker 2: of sitting down with one of our She's on the

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Speaker 2: Money community members and asking them all about their journey.

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Speaker 2: Let's jump straight into it, because this week I got

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Speaker 2: a message and it sounded exactly like this Hi V

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Speaker 2: and Team. After a year of consideration and peer pressure

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Speaker 2: from my friends and family, I've finally decided to nominate

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Speaker 2: myself for a Money Diaries episode. I grew up in

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Speaker 2: Department of Communities housing with my mum, who was challenged

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Speaker 2: with some serious addiction issues. After school, I qualified as

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Speaker 2: a nurse and lived paycheck to paycheck. Ten years ago,

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Speaker 2: my mom passed away suddenly and unexpectedly. Struggling emotionally and financially,

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Speaker 2: I soon became an addicted listener of the podcast. I've

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Speaker 2: literally taken every piece of advice, from personal insurance to superannuation.

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Speaker 2: Fast forward to now, I'm thirty two. I own two properties,

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Speaker 2: forty thousand oweing on my owner occupied proper and an

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Speaker 2: investment property. I hope to hear from you soon, Money Diarist.

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Speaker 2: You are definitely hearing from me soon. The second that

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Speaker 2: I hit my inbox, I could not wait to learn more.

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Speaker 2: Welcome to the show.

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Speaker 3: Thank you so much for having me.

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Speaker 2: I am so excited to learn a little bit more

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Speaker 2: about you and your journey. It feels like it's going

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Speaker 2: to be like a bit of a roller coaster, Like

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Speaker 2: I feel like I've just got to like buckle in.

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Speaker 3: This is going to be a journey.

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Speaker 2: Yeah, all right, well let's go on it together. Before

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Speaker 2: I ask you my favorite question, I'm going to ask

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Speaker 2: you what grade would you give your money habits from

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Speaker 2: A three to F If I asked you to give

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Speaker 2: them a grade, I.

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Speaker 3: Think it'd be everyone can improve somewhere.

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Speaker 2: All right, let's learn more about that. But I can

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Speaker 2: already tell like your body language, your energy, like your story,

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Speaker 2: like it's giving boss, Like I just know she's got

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Speaker 2: her shit together. So money darist, tell me a little

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Speaker 2: bit more about your money story and the things that

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Speaker 2: have impacted it.

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Speaker 3: So I'd say, like most people, my money story was

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Speaker 3: impacted a lot by my parents. My mom, as you've

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Speaker 3: just read, she was in department of Community Housing, she

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Speaker 3: didn't have a car, she didn't have a job, she

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Speaker 3: lived fortnite to fortnite on Centralink payments. So I grew

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Speaker 3: up observing that and then contrastingly watching my dad, who

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Speaker 3: has many properties, has a nice portfolio, works as a builder,

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Speaker 3: owns his own company. I had two very different lenses

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Speaker 3: of what life could look like. Then when she passed away.

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Speaker 3: I think most people expect that when a parent passes

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Speaker 3: that you're going to come into some inheritance, and that

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Speaker 3: wasn't the case. And it really again shifted my perspective

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Speaker 3: and changed my attitude a lot towards money and life

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Speaker 3: and like our purpose I guess. So, yeah, in my instance,

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Speaker 3: there wasn't any inheritance. There was actually a lot of

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Speaker 3: debt accrued, which was obviously fortunately white due to her death.

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Speaker 3: But yeah, that impacted my story a lot, losing mom.

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Speaker 2: So tell me a little bit more about growing up

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Speaker 2: with that contrast view of money, because obviously you'd like

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Speaker 2: go to one parent's house and have one experience and

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Speaker 2: another parent having another experience. At what point did you realize, oh,

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Speaker 2: these things are different, like because I think that when

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Speaker 2: you're really little, you just go mum's house. Dad's house.

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Speaker 2: Does house has something shiny? Mum's house doesn't have that,

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Speaker 2: But you kind of can't comprehend why or when. At

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Speaker 2: what point did you realize that maybe one of the

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Speaker 2: biggest differences was money.

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Speaker 3: I think I was eight, my dad had got custody

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Speaker 3: of me, soul custody of me, So I was spending

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Speaker 3: less time at Mum's house. So Mum's house wasn't normalized anymore.

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Speaker 3: It was now there's a shared custody agreement. So I

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Speaker 3: was spending majority of time with my dad and realizing, like,

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Speaker 3: we don't have to wait till the end of the

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Speaker 3: fortnight to get that or or there's no timeframe essentially,

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Speaker 3: like there's just always this like free flowing cash coming

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Speaker 3: in like that, Like it's he's not concerned about money, likes,

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Speaker 3: it's just it's not a thing he's not checking like

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Speaker 3: the atm in those days, you know, going into the

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Speaker 3: bank and checking your balance before we're making any transactions

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Speaker 3: or anything. It was just he wasn't concerned by it

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Speaker 3: at all, whereas Mom like really just she struggled today sometimes,

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Speaker 3: like we just weren't eating for the second part of

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Speaker 3: the fortnight because she couldn't afford it. And I think, yeah,

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Speaker 3: realizing that I would have been about eight years old

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Speaker 3: when I made that move to Dad's.

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Speaker 2: Yeah, and did you understand why those decisions were being

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Speaker 2: made by your mom? Like could you understand you know

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Speaker 2: why I shared custody agreement existed because I think For

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Speaker 2: some kids, they're like, I don't get it. For other kids,

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Speaker 2: you're like, yes, I feel much safer it my dad's

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Speaker 2: or you know, there might be so many underlying things

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Speaker 2: going on. Was this something you could comprehend at that age.

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Speaker 3: Yeah, Sadly, as a child, I really did understand. Unfortunately,

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Speaker 3: my mom she did struggle with some substance youth issues

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Speaker 3: and she was incarcerated for a period of my childhood,

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Speaker 3: which I think you forced the courts to make that decision.

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Speaker 2: Yeah.

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Speaker 3: I was very much aware of what was happening, mostly

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Speaker 3: because I wasn't in attendance for court. But my dad

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Speaker 3: felt it was his responsibility to still maintain some contact

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Speaker 3: with my mom.

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Speaker 2: It's my mom, No, what an iconic guy.

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Speaker 3: Yeah. So there were a few occasions where I did

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Speaker 3: visit the prison and I did visit mom, and I

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Speaker 3: think I would have been perhaps ten at that point,

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Speaker 3: and it was It's deeply embedded in my brain. I

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Speaker 3: can't forget it. I can't unfeel it, unsee it.

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Speaker 2: No, And I'm really sorry you in that way had

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Speaker 2: to grow up so quickly, because that's just not something

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Speaker 2: that I think any of us would wish for an

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Speaker 2: eight or a ten year old to be able to comprehend,

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Speaker 2: like I would love for you the jail to just

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Speaker 2: be a tile on a monopoly game, but unfortunately that's

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Speaker 2: not the case. How has that changed the way that

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Speaker 2: you view life? Because like, walking in there, you would

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Speaker 2: have been honestly overwhelmed or consumed, not really understanding a lot.

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Speaker 2: But as you get older, you start to comprehend more.

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Speaker 2: And I feel like that might have brought out a

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Speaker 2: lot of different emotions, not just oh my mom's there,

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Speaker 2: I'm sad that I'm missing her. It's now maybe a

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Speaker 2: little bit of resentment, a little bit of, you know,

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Speaker 2: being really frustrated about the situation. Like how did that

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Speaker 2: transpire as you got to your teenage years?

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Speaker 3: I think by teenage years, I became more like her.

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Speaker 3: I made poor decisions. I wasn't the best version of myself,

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Speaker 3: I think because I missed her so much and I

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Speaker 3: wasn't having that sort of closeness to her anymore. My

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Speaker 3: behavior trend was sort of more towards her, to be honest,

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Speaker 3: Like I was just realious, getting suspended from school, not

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Speaker 3: doing homework, not really like paying attention, just not future

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Speaker 3: focused at all, Like I just I didn't care if

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Speaker 3: mum wasn't there, Mom wasn't looking after me, nothing else

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Speaker 3: really mat it. I just as a child in hindsight

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Speaker 3: now looking back, I was just in a quite a

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Speaker 3: self destruction mode because I had no I thought at

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Speaker 3: the time, I have no structure, I have no support, Like,

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Speaker 3: where's my Mum's not doing her job looking after me?

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Speaker 3: She's she's away.

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Speaker 2: In my mind, she was away, Yeah, and I mean

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Speaker 2: she was. She wasn't present, and she wasn't present due

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Speaker 2: to the decisions that she made. So to you if

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Speaker 2: she was on holiday or if she was, you know, incarcerated,

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Speaker 2: to a younger child, like the same experience, like, ultimately,

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Speaker 2: mum's choosing not to be here through the decisions that

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Speaker 2: she's made, and that's really really rough. So at what

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Speaker 2: point did you realize, oh, this isn't for me, Like

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Speaker 2: did your mum get out while you were still under eighteen?

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Speaker 3: Yes, so she was only incarcerated for just overy gear

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Speaker 3: I think it was thirteen months, but it felt like

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Speaker 3: a lifetime, to be honest, And then when she did

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Speaker 3: get out, she kind of went through periods of being

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Speaker 3: clean and being not and we were able to maintain

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Speaker 3: a relationship, and it was predominantly through her mom, so

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Speaker 3: my nana that we were able to maintain that closeness.

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Speaker 2: Oh, tell me about your nana. I feel like this

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Speaker 2: is something that maybe you would have created a really

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Speaker 2: strong bond between the two of you, because like that's

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Speaker 2: traumatic for both of you.

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Speaker 3: It did, Yeah, it really did our closeness, I think

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Speaker 3: because the weekends, will say, when my mom typically would

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Speaker 3: have custody and she wasn't able to, my nana would

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Speaker 3: just scoop me up and look after me. She had

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Speaker 3: a big role in raising me on Like we are

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Speaker 3: super close even now to this day, like we're very close.

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Speaker 3: We've maintained that.

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Speaker 2: I could see your body language change when you mentioned

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Speaker 2: your nana. You like dimmed and I was like, Oh,

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Speaker 2: she loves her nana. I can see she's a nana's girl.

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Speaker 2: That's so so sweet.

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Speaker 1: That's yeah.

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Speaker 2: I was like, girl, if you want to start lying,

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Speaker 2: it's not going to fly. You are so transparent in

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Speaker 2: the nicest of ways. So you hit eighteen, you are

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Speaker 2: technically free in a way. And I feel like a

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Speaker 2: lot of us, especially when we're teenagers, we have this

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Speaker 2: thing in our head. We're like when I'm aden, I'm

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Speaker 2: going to be able to do whatever I want. Tell

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Speaker 2: me what that looked like.

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Speaker 3: So I think turning eighteen was a great time in

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Speaker 3: my life, but also just so tragically shitty. Actually, in hindsight,

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Speaker 3: I just thought, the second a turn eighteen, it's just

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Speaker 3: going to turn off all of these emotions that I

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Speaker 3: have that are connected to my mum, and I would

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Speaker 3: just like flourish out of this cocoon and be this

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Speaker 3: like butterfly, And it just wasn't the case.

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Speaker 2: That's so optimistic, though. I love that we all seem

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Speaker 2: to have this idea that you know, when this certain

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Speaker 2: date hits, all of a sudden, all my trauma is

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Speaker 2: going to be disregard. Yeah, I was like, I'll be

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Speaker 2: a new woman.

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Speaker 3: Everything will be fine. I'll be a teen. I had

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Speaker 3: moved out prior to being eighteen, and I was in

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Speaker 3: rental in South Perth. I was thinking at the time, like,

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Speaker 3: everything's going to be fine, Everything's just going to fall

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Speaker 3: into place, and it just didn't know. It turned out

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Speaker 3: it needed a lot more determination and a lot more

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Speaker 3: hard work and a lot more persistency, to be honest.

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Speaker 2: So it sounds like like in I don't know how

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Speaker 2: to say this. You turned out well? Is that a

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Speaker 2: good thing to say? I feel like it is because

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Speaker 2: you're like, I'm a nurse and you know I was

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Speaker 2: living patrick to paycheck and like, I already know enough

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Speaker 2: about your money story to know that you've knuckled down

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Speaker 2: and gotten some really cool stuff done. But how did

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Speaker 2: you go from having that childhood where you you know,

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Speaker 2: obviously it was really rough and really heavy and you

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Speaker 2: were acting out in your teenage years, which often so

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Speaker 2: many people are saying like, these are your formative years.

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Speaker 2: If you mess the ease years up, like you're going

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Speaker 2: to end up, you know, amounting to nothing. And I'm

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Speaker 2: not saying that as a personal opinion. There's just a

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Speaker 2: lot of I guess stereo types out there, and also

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Speaker 2: a lot of people who have parents who have substance

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Speaker 2: abuse is shoes. They often are expected to follow in

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Speaker 2: their parents' footsteps. Has that been something that has been

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Speaker 2: really hard to deal with? Or like, how have you

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Speaker 2: dealt with that? Because I think that the general public

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Speaker 2: and even friends and family maybe have an extra eye

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Speaker 2: on you because they're like, oh, we don't want her

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Speaker 2: going down the same path.

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Speaker 3: I one hundred percent agree with that, and I think

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Speaker 3: my family could see all of those behaviors in me

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Speaker 3: that mimicked my mom as a teenager. So when I

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Speaker 3: got to eighteen, I remember my dad's asking me what.

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Speaker 2: Do you want to do?

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Speaker 3: Like, what are you going to do with yourself? And

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Speaker 3: I just looked at him and I was like, I

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Speaker 3: just shrugged my shoulder and I said, I don't know.

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Speaker 3: I genuinely don't know. What do you think I should do?

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Speaker 3: And he said, you're really like caring and compassionate and

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Speaker 3: like you've just got this like kindness to you, So

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Speaker 3: you should go be anurse. I think you should go

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Speaker 3: be a nurse.

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Speaker 2: I'll pay for it.

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Speaker 3: I'll get you into tape. You can do your diploma

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Speaker 3: there because then you can travel with it. You can

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Speaker 3: do whatever you want and nurse stowids and demand. So

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Speaker 3: go for it.

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Speaker 2: And I did stop it. He sounds fantastic, Yeah, true story.

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Speaker 3: He paid for it, He got me in and I

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Speaker 3: got my diploma, started working, and yeah, that was how

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Speaker 3: my nursing career was born. Twelve years ago.

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Speaker 2: I'm obsessed. So you start working as a nurse, what

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Speaker 2: was that like?

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Speaker 3: Initially it was quite hard because in the nursing world.

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Speaker 3: If you don't get a graduate program, if you're not

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Speaker 3: lucky enough to be appointed one of the very few

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Speaker 3: graduate programs, it can be a little bit tough. So

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Speaker 3: I did a rural gig for a little while with

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Speaker 3: nursing as an enrolled nurse, and then ended up getting

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Speaker 3: perth based work, which was good.

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Speaker 2: Obsessed, you were working as a nurse and living paycheck

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Speaker 2: to paycheck? Why when? Where? How?

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Speaker 3: I renked by myself as an eighteen year old, nineteen

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Speaker 3: year old, and even twenty year old. I just didn't

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Speaker 3: care at that point. It was just and just doing

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Speaker 3: the best with the knowledge that I had at the time. Basically, Yeah,

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Speaker 3: I remember there would be many occasions where I just

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Speaker 3: didn't have any skills at all with money that I

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Speaker 3: would literally go to Nana, go to Dad, any other

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Speaker 3: family member, Hey can you feel up my car with fuel?

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Speaker 3: Hey can you pay this registration bill? Can you da

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Speaker 3: da da da da. Everyone would try to have these

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Speaker 3: financial conversations with me about budgeting and structure. I was

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Speaker 3: not interested because on my dad's side of the family,

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Speaker 3: I knew that if I put my hand out and

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Speaker 3: asked for support, they would just help me.

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Speaker 2: Yeah, I feel like you've grown out of that. How

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Speaker 2: Like what's the turning point? Because like being in that

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Speaker 2: situation and being surrounded by people who quite clearly love you.

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Speaker 2: I'm not saying that they should be paying for these things,

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Speaker 2: but they're probably just going, you know what, like she's

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Speaker 2: staying out of trouble, Like, let's just keep her in

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Speaker 2: the best possible position.

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Speaker 3: You know.

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Speaker 2: I don't know how well off they were, whether you know,

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Speaker 2: paying for your fuel was something that was super easy

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Speaker 2: and it didn't even worry them, or was something that

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Speaker 2: they're like, I mean, we preferred to Like what was

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Speaker 2: the turning point? Like why did you decide that money

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Speaker 2: was something to care about? Because it would have been

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Speaker 2: so easy to continue coasting, not really caring and just

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Speaker 2: live love, laughing.

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Speaker 3: You know. Yeah, I wish I could say that it

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Speaker 3: was some huge, big pivotal moment that was groundbreaking, but honestly,

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Speaker 3: it was one simple conversation that I had with a friend.

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Speaker 3: Her name's Tash.

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Speaker 2: What's up, Tash?

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Speaker 3: We love you, Tash eild. I think you'd know how

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Speaker 3: she's in the financial space.

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Speaker 2: Well, I do know her gorge. I was like, all right,

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Speaker 2: we'll double down on that. She introduced me to the podcast,

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Speaker 2: and she was like, that woman just has her shit together.

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Speaker 3: Though, yeah, she's just delete. But I met her, i'd

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Speaker 3: say twenty eighteen, twenty nineteen, and she was g owning

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Speaker 3: really good money, you're saving really well, let's like take

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Speaker 3: it up a notch, like you could do it better.

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Speaker 3: And I had a little bit of savings, I had

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Speaker 3: a little bit of financial literacy I had. I had

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Speaker 3: the drive to do it. I just had the skill

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Speaker 3: to do it at this point. And I remember I

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Speaker 3: became really close friends with Tash really quickly, and I

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Speaker 3: was just this sponge on her with all of this

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Speaker 3: advice and all of this knowledge, and she was just

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Speaker 3: so clever, and I was just mesmerized by everything that

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Speaker 3: she was saying and everything she was doing and just

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Speaker 3: just honestly so inspired. So that was the beginning of

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Speaker 3: my financial literacy journey. I love that. It was awesome.

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Speaker 3: I remember just every conversation we had, it'll all circle

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Speaker 3: back to finance, and I learned.

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Speaker 2: To just like love it.

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Speaker 3: Whereas we'll say, historically, the conversations that I'd have with

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Speaker 3: my family and they try to sit me down at

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Speaker 3: the table and be like, should really talk about budgeting,

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Speaker 3: which whatever, I didn't care about that. When Tash was

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Speaker 3: talking about it, it was cool. I was listening.

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Speaker 2: Good, Yeah, but isn't it crazy? And I went through

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Speaker 2: a very similar thing where my dad had been saying forever,

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Speaker 2: like I got my first job this second I was

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Speaker 2: allowed to work like fourteen years and nine months, and

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Speaker 2: I remember I worked in an ice cream shop. That

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Speaker 2: was my first job. And my dad sat me down

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Speaker 2: and was like, all right, you need to care about

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Speaker 2: this because like you don't have any rent, you don't

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Speaker 2: have any bills, like you can save all of this,

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Speaker 2: but you don't have to. But what I would do

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Speaker 2: is save five percent. Like I remember my dad being like,

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Speaker 2: just save five percent and pretend it doesn't exist. And

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Speaker 2: then every job you get after this, you're very likely

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Speaker 2: going to earn more money, so we're always going to

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Speaker 2: pretend you earn five percent less and then in that situation,

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Speaker 2: you'll always be saving. And I was like, that sounds terrible.

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Speaker 2: Let's not do that. And so like I never took

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Speaker 2: his advice, and you know, I went into psychology and

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Speaker 2: I didn't have any intention of working in finance, and

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Speaker 2: then all of a sudden, finance became important to me

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Speaker 2: and I'd go home and I was like, oh my god, Dad,

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Speaker 2: I'm saving and he's like, I've been telling you to

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Speaker 2: do this for years, and I literally would turn around

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Speaker 2: and be like, no, you haven't. Nah nah. He's like

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Speaker 2: literally other people, well, they're telling you things that you

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Speaker 2: should do that I've told you, and I'd be like,

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Speaker 2: nah nah, not the same. But it literally only resonates

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Speaker 2: when one it's somebody that we respect and fear, and

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Speaker 2: not that you don't respect your family, you know what

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Speaker 2: I mean, someone that we just kind of like have

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Speaker 2: a level of aspiration towards, but also at a time

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Speaker 2: when you're kind of open to hearing it. So like,

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Speaker 2: had you met Tash and you weren't open and ready

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Speaker 2: for change or wanted to be better or do better

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Speaker 2: in your life, you would have kind of been like,

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Speaker 2: she just talks about money, and I think that's all

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Speaker 2: she's obsessed with. I'm not vibing that. Like it could

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Speaker 2: have gone two ways, right, but instead you were like,

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Speaker 2: I'm ready for that. This is the change I've been

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Speaker 2: looking for. And often we just don't know what we're

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Speaker 2: looking for until we find it, and like we need

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Speaker 2: to hear the same story or the same instructions so

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Speaker 2: many times before we go hmm, maybe that is for me.

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Speaker 2: So I'm just I'm so glad you found your way in.

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Speaker 2: I want to get into the nitty gritty though, because, like,

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Speaker 2: there is so much more to this story. Like, girl,

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Speaker 2: you own or not one, but two properties? What do

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Speaker 2: you do for work today? And how much money do

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Speaker 2: you earn?

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Speaker 3: I am a registered nurse and my base pay is

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Speaker 3: one hundred and six K and this financial year I

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Speaker 3: have made one hundred and eighteen.

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Speaker 2: Stop it. That is so good and tell me what

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Speaker 2: is your big money goal? What are you currently working towards?

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Speaker 2: Because like, I feel like you're achieving a lot already.

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Speaker 3: Thank you. My big money goal, as you know, I

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Speaker 3: already have two properties.

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Speaker 2: Crazy crazy.

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Speaker 3: My big money goal is to have a third, fourth, fifth,

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Speaker 3: and probably a tenth property. My dad has a big.

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Speaker 2: Property property mogul. That is the plan.

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Speaker 3: Yeah, that's my big money goal.

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Speaker 2: I'm obsessed. So tell me about your dad's big property portfolio.

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Speaker 2: You don't have to tell me too much, but is

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Speaker 2: that something that he built from scratch as well? Because

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Speaker 2: that something that you've gotten inspiration from or were you like, no,

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Speaker 2: I just had to learn a lot of those things

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Speaker 2: on my own, Like what does that look like?

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Speaker 3: Yeah, I think with my dad's side of the family,

399
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Speaker 3: they will say in their wealth creation that's definitely will

400
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Speaker 3: say the bread and butter of it. Yeah. Cool, And yeah,

401
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Speaker 3: my grandparents have done the same. My aunties and uncles

402
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Speaker 3: have all done the same, And I think that that's

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Speaker 3: just something I'd like to sort of follow in suit with.

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Speaker 2: That's crazy knowing more about your story and just like

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Speaker 2: the contrast between the way you grow up with your

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Speaker 2: mum and then the way that you've grown up with

407
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Speaker 2: your dad, Like would you say that your dad's side

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Speaker 2: of the family would be viewed as kind of wealthy

409
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Speaker 2: or just like doing well? Like what would that kind

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Speaker 2: of look like?

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Speaker 3: Wealthy? I'd say yeah. I mean I want to say

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Speaker 3: conservatively to them, like no, they're just well off. But

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Speaker 3: then I'm like, no, I want to empower how well

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Speaker 3: everyone has done on Dad's side one hundred percent they

415
00:20:46,840 --> 00:20:52,399
Speaker 3: are wealthy and leave their jobs for twelve months and

416
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Speaker 3: travel Australia, which many of my aunties and uncles and

417
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Speaker 3: their children have been fortunate enough to do. I'm going

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Speaker 3: to call that wealthy.

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Speaker 2: Yeah, that's real rich. Like I think that there's this

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Speaker 2: idea in our heads sometimes when we talk about, you know,

421
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Speaker 2: being wealthy, we go, oh, that means you're a billionaire

422
00:21:09,119 --> 00:21:11,040
Speaker 2: or all like, but no, it's when you have a

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Speaker 2: level of financial freedom to afford you choice. And that,

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Speaker 2: to me, that's wealthy, as like, that is so cool, money, darrist,

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Speaker 2: I want to go to a really quick break or

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Speaker 2: I don't want to go to a really quick break.

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Speaker 2: I have so many questions, but right after this we'll

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Speaker 2: dive straight into them. All right, money diist, we are back,

429
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Speaker 2: and I want to talk to you about investing to

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Speaker 2: begin apart from your investment property. Do you invest? If so,

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Speaker 2: what in? If not, why not?

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Speaker 3: I do not currently invest outside of my investment property,

433
00:21:45,240 --> 00:21:48,560
Speaker 3: although I am meeting with my financial advisor at the

434
00:21:48,760 --> 00:21:51,400
Speaker 3: end of the month which is quickly approaching, to set

435
00:21:51,440 --> 00:21:51,679
Speaker 3: that up.

436
00:21:51,800 --> 00:21:54,119
Speaker 2: Oh that is so exciting. Also, how are you like

437
00:21:54,200 --> 00:21:57,960
Speaker 2: besties with Tash but don't invest? Like that's crazy to me.

438
00:21:59,080 --> 00:22:01,840
Speaker 3: Well, we're definitely not besties. We were just friends back

439
00:22:01,880 --> 00:22:02,240
Speaker 3: in the day.

440
00:22:02,480 --> 00:22:04,440
Speaker 2: But oh yeah, yeah, you know what I mean.

441
00:22:05,720 --> 00:22:08,080
Speaker 3: But yes, because I know that she is definitely the

442
00:22:08,160 --> 00:22:11,879
Speaker 3: investing queen. But I think my focus has definitely been

443
00:22:11,960 --> 00:22:16,159
Speaker 3: more property than shares, to be honest. But it is

444
00:22:16,240 --> 00:22:18,160
Speaker 3: on the to do list and it will be done

445
00:22:18,200 --> 00:22:18,840
Speaker 3: by the end of the month.

446
00:22:18,960 --> 00:22:22,119
Speaker 2: I'm obsessed, all right. Tell me a bit more about

447
00:22:22,200 --> 00:22:25,680
Speaker 2: this investment property, because that's really impressive. So we're actually

448
00:22:25,760 --> 00:22:27,919
Speaker 2: going to like jump to the next question and then

449
00:22:28,040 --> 00:22:30,040
Speaker 2: come back a little bit to talk about it. So

450
00:22:30,560 --> 00:22:34,480
Speaker 2: tell me about your debt situation. You have two properties.

451
00:22:34,600 --> 00:22:37,720
Speaker 2: One you're an owner occupier and that can I assume

452
00:22:37,880 --> 00:22:39,560
Speaker 2: was your first house you purchased.

453
00:22:39,720 --> 00:22:40,520
Speaker 3: Yes, that's correct.

454
00:22:40,760 --> 00:22:42,400
Speaker 2: Tell me how, when, where? Why?

455
00:22:42,760 --> 00:22:45,760
Speaker 3: So it's quite a unique situation actually, So I was

456
00:22:45,800 --> 00:22:51,359
Speaker 3: actually renting this apartment from the Department of Communities. I

457
00:22:51,880 --> 00:22:54,520
Speaker 3: got to a stage where I was earning too much

458
00:22:54,920 --> 00:22:59,640
Speaker 3: to still occupy the property, and during COVID they approached

459
00:22:59,680 --> 00:23:02,840
Speaker 3: me and would you like to vacate the property or

460
00:23:02,880 --> 00:23:04,280
Speaker 3: would you like to purchase the property?

461
00:23:04,520 --> 00:23:06,280
Speaker 2: Oh my god, I didn't even know that was ever

462
00:23:06,359 --> 00:23:08,879
Speaker 2: an option. I didn't know that was a thing. And

463
00:23:09,480 --> 00:23:12,240
Speaker 2: I had been saving at that point.

464
00:23:12,359 --> 00:23:15,240
Speaker 3: Tashad got me onto a really good saving scheme and

465
00:23:15,680 --> 00:23:17,320
Speaker 3: I had a deposit ready to go, and I settled

466
00:23:17,320 --> 00:23:19,760
Speaker 3: a month later in COVID, so I purchased the property.

467
00:23:20,440 --> 00:23:21,000
Speaker 4: Stop it.

468
00:23:22,560 --> 00:23:25,520
Speaker 3: So I purchased the property in February of twenty twenty

469
00:23:25,720 --> 00:23:30,040
Speaker 3: two for two hundred and seventy with a forty two

470
00:23:30,080 --> 00:23:31,320
Speaker 3: thousand dollars deposit.

471
00:23:31,560 --> 00:23:34,159
Speaker 2: So tell me more about this. I'm just like writing

472
00:23:34,240 --> 00:23:37,240
Speaker 2: down notes frantically, so I don't forget my numbers. But

473
00:23:37,720 --> 00:23:39,879
Speaker 2: tell me more about how that works. They came to

474
00:23:39,880 --> 00:23:42,320
Speaker 2: you and they said, look vacate babe, or you know what,

475
00:23:42,480 --> 00:23:44,719
Speaker 2: you could just buy it from us. Yeah, how did

476
00:23:44,800 --> 00:23:47,640
Speaker 2: they value the property? How did that transaction happen? Because

477
00:23:47,680 --> 00:23:50,239
Speaker 2: clearly it didn't go on market, Like, how did they

478
00:23:50,320 --> 00:23:52,720
Speaker 2: know that the house was worth two hundred and seventy grand?

479
00:23:52,920 --> 00:23:55,240
Speaker 2: Like did they just be like this is a good number.

480
00:23:55,560 --> 00:23:58,480
Speaker 3: Like it felt like that at the time because I

481
00:23:58,600 --> 00:24:00,480
Speaker 3: was like, wait, why is it so cheap? But during

482
00:24:00,560 --> 00:24:03,640
Speaker 3: COVID everything was for a moment. But they had three

483
00:24:03,880 --> 00:24:07,800
Speaker 3: independent valuations from three separate banks come into the property. Wow,

484
00:24:08,080 --> 00:24:10,640
Speaker 3: they just as you would for like a normal valuation.

485
00:24:10,960 --> 00:24:12,840
Speaker 3: Came back to me and they said it's a fixed price,

486
00:24:12,880 --> 00:24:15,800
Speaker 3: there's no negotiation, it's two seventy. And I was like,

487
00:24:16,240 --> 00:24:19,200
Speaker 3: I will take it. I remember that at the time,

488
00:24:19,280 --> 00:24:22,000
Speaker 3: my family saying, don't get an apartment, like it's never

489
00:24:22,040 --> 00:24:24,520
Speaker 3: going to appreciate and value. Go buy land, like that's

490
00:24:24,680 --> 00:24:27,520
Speaker 3: what you need. Go buy a house somewhere. And in hindsight,

491
00:24:27,600 --> 00:24:29,560
Speaker 3: I'm so glad that I just bought the apartment. It

492
00:24:29,640 --> 00:24:32,600
Speaker 3: was just about getting getting in, getting into the market.

493
00:24:32,480 --> 00:24:34,199
Speaker 2: And getting your foot in the door. And I mean,

494
00:24:34,280 --> 00:24:37,400
Speaker 2: that's a very special situation that everybody's going to find

495
00:24:37,400 --> 00:24:39,440
Speaker 2: themselves in. But it's so true, and I think that

496
00:24:39,600 --> 00:24:41,600
Speaker 2: that's a lot of the work that I'm trying to

497
00:24:41,680 --> 00:24:44,520
Speaker 2: do in the property space is just re route people's

498
00:24:44,560 --> 00:24:48,480
Speaker 2: expectations because from even our parents' age, which I don't

499
00:24:48,520 --> 00:24:51,520
Speaker 2: even think is that old, like they were able to

500
00:24:51,600 --> 00:24:55,240
Speaker 2: purchase property with land and that was reasonable, and you know,

501
00:24:55,440 --> 00:24:57,760
Speaker 2: two hundred and seventy thousand dollars to them seems so

502
00:24:58,080 --> 00:25:00,440
Speaker 2: much money. But to us, I'm like, whole up, where's

503
00:25:00,440 --> 00:25:02,720
Speaker 2: you buy? Because that's like next to nothing for a property.

504
00:25:03,480 --> 00:25:06,600
Speaker 2: Can I know what's that property worth? Now? I just

505
00:25:06,680 --> 00:25:09,520
Speaker 2: know it's worth so much more. And you're like, hey, dad, guess.

506
00:25:09,320 --> 00:25:14,359
Speaker 3: What it is currently worth? Six hundred thousand, six what

507
00:25:15,200 --> 00:25:19,240
Speaker 3: I know? I know that is crazy so good.

508
00:25:19,480 --> 00:25:21,800
Speaker 2: No, but like also incredible, and I mean it's not

509
00:25:21,880 --> 00:25:24,399
Speaker 2: going to happen for everybody, but it's so nice to

510
00:25:24,520 --> 00:25:29,600
Speaker 2: see capital gain happening inside apartments which are really I

511
00:25:29,640 --> 00:25:31,679
Speaker 2: don't know, their assets that are a little bit more

512
00:25:31,760 --> 00:25:35,680
Speaker 2: accessible and things that you can purchase. So tell me

513
00:25:35,840 --> 00:25:38,600
Speaker 2: you purchased it with a forty two thousand dollars deposit?

514
00:25:38,760 --> 00:25:40,879
Speaker 2: Did you already have that money saved? And it was

515
00:25:40,920 --> 00:25:43,200
Speaker 2: sitting there and it was just like good timing that

516
00:25:43,280 --> 00:25:44,080
Speaker 2: you already had it?

517
00:25:44,280 --> 00:25:44,600
Speaker 3: Correct?

518
00:25:44,880 --> 00:25:48,159
Speaker 2: Yeah, and then you started paying it off, you had

519
00:25:48,200 --> 00:25:50,560
Speaker 2: your first mortgage. How much have you got left to

520
00:25:50,640 --> 00:25:52,520
Speaker 2: go on that property as of this morning?

521
00:25:52,880 --> 00:25:53,679
Speaker 3: Forty one thousand?

522
00:25:54,040 --> 00:25:56,960
Speaker 2: Sorry what you've got forty one? Like less than fifty grand?

523
00:25:57,240 --> 00:25:58,960
Speaker 2: Like you've got forty one thousand dollars?

524
00:25:59,040 --> 00:25:59,840
Speaker 3: Oh? Wing? Correct?

525
00:26:00,200 --> 00:26:07,160
Speaker 2: Six hundred thousand dollars property? Yes, yeah, babe? What all right?

526
00:26:07,280 --> 00:26:10,560
Speaker 2: All right? I am so proud of you. This is

527
00:26:10,640 --> 00:26:13,320
Speaker 2: crazy and we're not even done yet. So can I

528
00:26:13,400 --> 00:26:16,600
Speaker 2: make some assumptions and assume that you might have used

529
00:26:16,720 --> 00:26:19,960
Speaker 2: some of your equity in this property to purchase your

530
00:26:20,080 --> 00:26:21,760
Speaker 2: investment property? Is that what's going on?

531
00:26:21,960 --> 00:26:24,280
Speaker 3: Yes, Quaen, that is exactly what I did Yeah.

532
00:26:24,200 --> 00:26:27,240
Speaker 2: Okay, iconic, And when did you decide to do that?

533
00:26:27,440 --> 00:26:30,480
Speaker 2: So you purchased in feb twenty twenty two, which was

534
00:26:30,600 --> 00:26:34,119
Speaker 2: not that long ago. And then when did you go

535
00:26:34,280 --> 00:26:35,840
Speaker 2: an investment property might be for me?

536
00:26:36,080 --> 00:26:38,479
Speaker 3: So it was about this time last year I went

537
00:26:38,560 --> 00:26:40,960
Speaker 3: back to my broker and I was like, yeah, I

538
00:26:41,000 --> 00:26:43,359
Speaker 3: think I'm ready for the second property. Now took me

539
00:26:43,480 --> 00:26:46,959
Speaker 3: a while to find a property that I really wanted,

540
00:26:47,160 --> 00:26:50,160
Speaker 3: to be honest, and the plans that have changed, because

541
00:26:50,480 --> 00:26:53,840
Speaker 3: when I initially bought the apartment, the mental plan was

542
00:26:54,119 --> 00:26:56,240
Speaker 3: I want the apartment paid in seven years. I know

543
00:26:56,359 --> 00:26:58,160
Speaker 3: that I'm disciplined enough that I can have it done

544
00:26:58,640 --> 00:27:03,320
Speaker 3: in that time frame because I just kept doing the

545
00:27:03,800 --> 00:27:06,240
Speaker 3: mccorid bank calculator on how much.

546
00:27:06,520 --> 00:27:08,400
Speaker 2: Yeah, yeah, yeah, that's a good one. That's a good

547
00:27:08,400 --> 00:27:11,800
Speaker 2: one for anyone listening along. Like, even if you don't

548
00:27:11,920 --> 00:27:15,680
Speaker 2: get like debts through mcquarie Bank, their calculators are pretty sick.

549
00:27:16,000 --> 00:27:19,159
Speaker 3: Same, I don't even bank with McQuary, Like I shouldn't.

550
00:27:18,800 --> 00:27:20,520
Speaker 2: See thee though. I was like, no, no, no, I

551
00:27:20,680 --> 00:27:23,480
Speaker 2: use them even my broking team, Like we obviously have

552
00:27:23,520 --> 00:27:25,600
Speaker 2: a whole heap of calculators. But if we're quickly on

553
00:27:25,680 --> 00:27:27,840
Speaker 2: the phone with somebody that's one that we just look

554
00:27:27,960 --> 00:27:29,600
Speaker 2: up online and we're like, oh, let's just do some

555
00:27:29,720 --> 00:27:31,520
Speaker 2: quick numbers. It's a good one exactly.

556
00:27:31,720 --> 00:27:33,840
Speaker 3: And I think seeing the number of like what I

557
00:27:33,880 --> 00:27:36,480
Speaker 3: could say doing that. That was why the seven year

558
00:27:36,520 --> 00:27:39,160
Speaker 3: plan became a thing. But then as I was sort

559
00:27:39,200 --> 00:27:43,440
Speaker 3: of approaching my goals sooner than I thought, I was like,

560
00:27:43,480 --> 00:27:46,480
Speaker 3: I should just get the apartment valued. Maybe I could

561
00:27:46,880 --> 00:27:50,080
Speaker 3: buy another property and then rent the apartment move into

562
00:27:50,600 --> 00:27:52,639
Speaker 3: the next property. So I sort of went back and

563
00:27:52,720 --> 00:27:55,159
Speaker 3: forth and say between that for a little while and

564
00:27:55,240 --> 00:27:58,440
Speaker 3: then settled on No, I want the apartment one hundred

565
00:27:58,440 --> 00:28:01,399
Speaker 3: percent paid off. Like I'm going to remain living here

566
00:28:01,520 --> 00:28:03,879
Speaker 3: in the smaller property, and I'm going to use the

567
00:28:04,200 --> 00:28:07,320
Speaker 3: bigger loan for the investment. It's just it's going to

568
00:28:07,320 --> 00:28:10,080
Speaker 3: be a better financial decision. Plus I'm comfortable in the apartment.

569
00:28:10,280 --> 00:28:13,280
Speaker 2: Yeah. So tell me how much did you purchase your

570
00:28:13,320 --> 00:28:15,680
Speaker 2: second property for? And what does it look like.

571
00:28:16,280 --> 00:28:20,360
Speaker 3: I purchased my investment property for eight hundred and twenty.

572
00:28:20,400 --> 00:28:24,080
Speaker 2: Oh my goodness, And how much deposit did you need

573
00:28:24,160 --> 00:28:25,160
Speaker 2: to take in equity?

574
00:28:25,520 --> 00:28:28,720
Speaker 3: I did not actually pay one dollar out of pocket

575
00:28:28,840 --> 00:28:31,080
Speaker 3: for the second property, it was all equity.

576
00:28:30,840 --> 00:28:32,520
Speaker 2: Jokes on you. I knew you were going to say that.

577
00:28:33,119 --> 00:28:35,640
Speaker 2: I just wanted you to tell everybody how cool equity

578
00:28:36,000 --> 00:28:40,120
Speaker 2: was eight hundred and twenty grand and how did you

579
00:28:40,280 --> 00:28:43,280
Speaker 2: work out the cash flow of that? Because I think

580
00:28:43,320 --> 00:28:45,040
Speaker 2: that a lot of us would be like, oh my god, like,

581
00:28:45,120 --> 00:28:47,360
Speaker 2: I'm doing really well with my two hundred and seventy

582
00:28:47,400 --> 00:28:50,080
Speaker 2: thousand dollar loon and I'm paying that off eight hundred

583
00:28:50,120 --> 00:28:51,600
Speaker 2: and twenty Like where am I going to get the

584
00:28:51,680 --> 00:28:55,080
Speaker 2: cash for that from? Were you really comfortable with those

585
00:28:55,200 --> 00:28:56,800
Speaker 2: cash flows? Like what did that look like?

586
00:28:57,200 --> 00:29:00,440
Speaker 3: I was quite terrified of the numbers initially, to be honest,

587
00:29:00,680 --> 00:29:06,880
Speaker 3: only because I had been disciplined as with my extra

588
00:29:07,000 --> 00:29:13,000
Speaker 3: contributions to my current owner occupied mortgage, and I remember

589
00:29:13,080 --> 00:29:15,960
Speaker 3: saying to my broker, I'm not slowing down on those

590
00:29:16,200 --> 00:29:20,600
Speaker 3: repayments and then the extra contributions as well. It's tenanted

591
00:29:20,800 --> 00:29:24,240
Speaker 3: and I'm going to manage both, so it's negatively good.

592
00:29:24,640 --> 00:29:27,080
Speaker 3: But I step on an out of pocket cost on

593
00:29:27,160 --> 00:29:30,440
Speaker 3: a monthly basis to contribute to those repayments. But I'm

594
00:29:30,480 --> 00:29:34,320
Speaker 3: not slowing down on the owner occupied payments either, And

595
00:29:34,400 --> 00:29:35,960
Speaker 3: he was like, oh, that's going to be really tight

596
00:29:36,200 --> 00:29:38,560
Speaker 3: and blah blah blah. And I was like, I will

597
00:29:38,600 --> 00:29:40,880
Speaker 3: figure it out. I will make it. If your numbers

598
00:29:40,880 --> 00:29:43,440
Speaker 3: aren't numbering, I will cut something out, I will cut

599
00:29:43,520 --> 00:29:46,400
Speaker 3: something down, I'll revamp something. I will figure it out.

600
00:29:46,640 --> 00:29:49,440
Speaker 2: Yeah, and tell me what type of rental yield are

601
00:29:49,480 --> 00:29:51,080
Speaker 2: you getting on that property?

602
00:29:51,400 --> 00:29:53,200
Speaker 3: Seven hundred and ten per week?

603
00:29:54,280 --> 00:29:57,920
Speaker 2: Okay, so that's a pretty good rental yield, Like that's

604
00:29:58,000 --> 00:30:00,800
Speaker 2: looking very very nice. Did you you know what that

605
00:30:00,880 --> 00:30:03,080
Speaker 2: would rent for before you purchased it?

606
00:30:03,480 --> 00:30:07,400
Speaker 3: Yes, it was actually already tenanted when I purchased, oh,

607
00:30:07,680 --> 00:30:11,560
Speaker 3: which was very lucky dreaming. And I said to the

608
00:30:11,640 --> 00:30:15,520
Speaker 3: tenants and the property managers like, I'm happy to have

609
00:30:15,680 --> 00:30:18,840
Speaker 3: us keep you continuation contract and no variations like no

610
00:30:18,960 --> 00:30:21,640
Speaker 3: increase to rent or anything like that, if anything. Like

611
00:30:21,720 --> 00:30:24,080
Speaker 3: I actually offered giving them a credit to just stood

612
00:30:24,080 --> 00:30:27,200
Speaker 3: of staying on. We are so kind because it wouldn't

613
00:30:27,200 --> 00:30:29,520
Speaker 3: just be beneficial for me and beneficial for them too.

614
00:30:29,600 --> 00:30:31,400
Speaker 3: So I was like, let's just credit, yeah, money win,

615
00:30:31,600 --> 00:30:35,440
Speaker 3: which was grand. And I've actually just increased the rent

616
00:30:35,640 --> 00:30:38,000
Speaker 3: with a renewal of contract for next month.

617
00:30:38,280 --> 00:30:41,480
Speaker 2: Yep, so fair. So tell me a little bit more

618
00:30:41,600 --> 00:30:45,000
Speaker 2: about this situation, because you mentioned you have a financial advisor,

619
00:30:45,280 --> 00:30:48,360
Speaker 2: and just a backtrack if you're in a situation where

620
00:30:48,400 --> 00:30:51,120
Speaker 2: you've made a decision, and this is not just our money, Doris,

621
00:30:51,200 --> 00:30:54,240
Speaker 2: this is just in general. You've got somebody who's decided,

622
00:30:54,280 --> 00:30:55,840
Speaker 2: you know what, I want to be a property mogul,

623
00:30:55,920 --> 00:30:57,560
Speaker 2: I want to buy one property and then two and

624
00:30:57,640 --> 00:31:00,360
Speaker 2: then three, and obviously money, Dost, you've had that role

625
00:31:00,440 --> 00:31:03,160
Speaker 2: modeled for you. You know it's possible, and I think

626
00:31:03,240 --> 00:31:07,320
Speaker 2: that's so exciting. One thing that is often really common

627
00:31:07,840 --> 00:31:10,640
Speaker 2: is that you don't pay down your primary residence, like

628
00:31:10,720 --> 00:31:12,800
Speaker 2: you don't care about that. You kind of go, nope,

629
00:31:12,800 --> 00:31:15,040
Speaker 2: I'm going to consistently use the equity in that. And

630
00:31:15,120 --> 00:31:17,560
Speaker 2: obviously you bought it for two hundred and seventy grand,

631
00:31:17,640 --> 00:31:20,080
Speaker 2: it's now worth six hundred grand. I would, and I'm

632
00:31:20,120 --> 00:31:22,960
Speaker 2: hazarding I guess. I would guess there's some more equity

633
00:31:23,080 --> 00:31:25,680
Speaker 2: sitting in there that you could technically use for the

634
00:31:25,840 --> 00:31:29,200
Speaker 2: next property if you really wanted to. Where does your

635
00:31:29,320 --> 00:31:33,040
Speaker 2: motivation for smashing that loan off completely come from? Because

636
00:31:33,040 --> 00:31:36,760
Speaker 2: I feel like it's probably very intertwined into your money story.

637
00:31:37,800 --> 00:31:42,160
Speaker 3: That's a very fair assumption. I think sort of going

638
00:31:42,240 --> 00:31:45,040
Speaker 3: back to when I was younger living with Mum, living

639
00:31:45,080 --> 00:31:48,440
Speaker 3: in department of Communities housing, we were moved around a lot,

640
00:31:49,320 --> 00:31:52,880
Speaker 3: so I never really consistently lived anywhere, and prior to

641
00:31:53,080 --> 00:31:58,320
Speaker 3: moving into this apartment, I'd never actually lived anywhere I

642
00:31:58,400 --> 00:32:02,080
Speaker 3: think more than a year in one location. So as

643
00:32:02,120 --> 00:32:05,000
Speaker 3: soon as moving here, that was sort of the motivation

644
00:32:05,440 --> 00:32:07,240
Speaker 3: is that this is the little like safe house.

645
00:32:07,600 --> 00:32:08,800
Speaker 2: This is going to be hot.

646
00:32:09,080 --> 00:32:11,680
Speaker 3: No one's taking it from me if I have nothing

647
00:32:11,760 --> 00:32:14,760
Speaker 3: going on it, it's one hundred percent mine. No one's

648
00:32:14,840 --> 00:32:16,920
Speaker 3: touching it. I never have to vacate. I mean I

649
00:32:16,960 --> 00:32:18,120
Speaker 3: will one day when it's.

650
00:32:18,120 --> 00:32:20,680
Speaker 2: My choice, but yeah, but it'll be a choice.

651
00:32:20,920 --> 00:32:23,280
Speaker 3: Yeah. I wanted the choice. I wanted the freedom of that.

652
00:32:23,760 --> 00:32:26,520
Speaker 2: Yeah. I was like, I reckon, you're looking for, you know,

653
00:32:26,640 --> 00:32:29,560
Speaker 2: that level of security that you didn't have, and now

654
00:32:29,600 --> 00:32:32,600
Speaker 2: you're gifting it to yourself. Have you ever reflected and

655
00:32:32,720 --> 00:32:34,640
Speaker 2: just looked back and been like, well, the woman I

656
00:32:34,720 --> 00:32:36,880
Speaker 2: am today is who baby me needed.

657
00:32:36,760 --> 00:32:38,880
Speaker 3: One hundred percent. I feel like I say that to

658
00:32:39,000 --> 00:32:41,920
Speaker 3: myself on like a weekly basis to be honest, Like

659
00:32:42,000 --> 00:32:44,640
Speaker 3: the stability that I have now is exactly what I

660
00:32:44,720 --> 00:32:47,760
Speaker 3: needed as a child, and I'm proud of it. Actually, really,

661
00:32:47,760 --> 00:32:48,480
Speaker 3: I'm so proud of it.

662
00:32:48,640 --> 00:32:51,520
Speaker 2: Oh, baby, you is so proud of you. She's just like, oh,

663
00:32:51,760 --> 00:32:55,280
Speaker 2: that's me, Like that's crazy, Like I'm so obsessed, and like,

664
00:32:55,720 --> 00:32:57,520
Speaker 2: you know, I know your mum's not around, and I

665
00:32:57,600 --> 00:33:00,360
Speaker 2: don't know how sickle that relationship was, but you get

666
00:33:00,440 --> 00:33:01,960
Speaker 2: to keep one with her. I just know she'd be

667
00:33:02,040 --> 00:33:05,120
Speaker 2: so proud, like knowing what she's been through. I'm assuming

668
00:33:05,200 --> 00:33:07,520
Speaker 2: one of the biggest fears she had was that you

669
00:33:07,600 --> 00:33:11,600
Speaker 2: would follow in her footsteps and you didn't, like, imagine

670
00:33:11,680 --> 00:33:13,880
Speaker 2: how black. I know she's not here, but like she is,

671
00:33:14,080 --> 00:33:16,480
Speaker 2: she knows, like she knows that you've done really well.

672
00:33:16,800 --> 00:33:19,200
Speaker 3: Yeah, one hundred percent. I like to think that every

673
00:33:20,160 --> 00:33:25,000
Speaker 3: every decision that I'm making is just like part of her,

674
00:33:25,400 --> 00:33:29,040
Speaker 3: Like I'm part of her. I'm always doing my best,

675
00:33:29,240 --> 00:33:31,640
Speaker 3: not just for me, but for her. I'm her only child,

676
00:33:31,760 --> 00:33:34,080
Speaker 3: and I just feel like, you know, I'm like her

677
00:33:34,160 --> 00:33:35,240
Speaker 3: legacy or something.

678
00:33:35,960 --> 00:33:39,520
Speaker 2: You are and you're killing it, Like, Oh, I'm so proud.

679
00:33:40,120 --> 00:33:43,520
Speaker 2: Tell me you've built up a significant property portfolio for

680
00:33:43,680 --> 00:33:46,800
Speaker 2: being so young, and obviously have a great income. Do

681
00:33:46,920 --> 00:33:48,920
Speaker 2: you have personal insurance? If not, why not?

682
00:33:49,160 --> 00:33:49,560
Speaker 3: Yes, I do.

683
00:33:50,120 --> 00:33:50,760
Speaker 2: I can't.

684
00:33:51,680 --> 00:33:53,600
Speaker 3: Of course I do. I don't juste have mine Morgan.

685
00:33:53,800 --> 00:33:56,160
Speaker 2: I was about to say, I really doubt you don't,

686
00:33:56,440 --> 00:33:59,320
Speaker 2: given yours so engrossed into the community, but like I've

687
00:33:59,360 --> 00:34:00,840
Speaker 2: got ah No, of.

688
00:34:00,920 --> 00:34:03,600
Speaker 3: Course no, I definitely do, and I will say that

689
00:34:03,720 --> 00:34:07,040
Speaker 3: I feel like I'm this walking billboard for it with

690
00:34:07,240 --> 00:34:09,880
Speaker 3: all of my friends and family, even my work colleagues.

691
00:34:10,400 --> 00:34:12,520
Speaker 3: I am just like you about personal insurance. This is

692
00:34:12,560 --> 00:34:14,520
Speaker 3: why you should get it, and oh I've got it

693
00:34:14,560 --> 00:34:15,320
Speaker 3: through Soper.

694
00:34:15,040 --> 00:34:15,839
Speaker 2: And I'm like that's not enough.

695
00:34:15,880 --> 00:34:18,400
Speaker 3: You need to do this datata, Like that's just my

696
00:34:18,560 --> 00:34:21,440
Speaker 3: love language is talking to people about personal insurance.

697
00:34:21,600 --> 00:34:24,120
Speaker 2: Well, your dad said that your love language was like

698
00:34:24,239 --> 00:34:27,360
Speaker 2: caring about people, so this makes sense. And like finance

699
00:34:27,520 --> 00:34:30,160
Speaker 2: is a way that you can create like as safety nets,

700
00:34:30,239 --> 00:34:33,080
Speaker 2: so it just makes sense. I keep saying to my husband,

701
00:34:33,120 --> 00:34:35,640
Speaker 2: I'm like, we should find a way to turn personal

702
00:34:35,719 --> 00:34:39,000
Speaker 2: insurance into some kind of multi level marketing business because

703
00:34:39,040 --> 00:34:41,560
Speaker 2: like we would have people talking about it night and day,

704
00:34:41,960 --> 00:34:43,120
Speaker 2: like imagine.

705
00:34:43,440 --> 00:34:45,880
Speaker 3: One hundred percent. Now it really is. My love language

706
00:34:45,960 --> 00:34:48,799
Speaker 3: is talking about personal insurance more than anything. One hundred percent.

707
00:34:48,920 --> 00:34:51,520
Speaker 2: I'm obsessed money doars. Tell me, what do you think

708
00:34:51,640 --> 00:34:53,080
Speaker 2: is your best money habit?

709
00:34:53,320 --> 00:34:55,680
Speaker 3: My best money habit is that I do not worry

710
00:34:55,719 --> 00:34:58,200
Speaker 3: about money anymore the way that I used to do.

711
00:34:58,760 --> 00:35:02,239
Speaker 3: I used to really just get nervous at the end

712
00:35:02,280 --> 00:35:05,080
Speaker 3: of each fortnight waiting for pay to come in. And

713
00:35:05,160 --> 00:35:08,400
Speaker 3: now I just feel with everything automated, with so much structure.

714
00:35:09,120 --> 00:35:11,160
Speaker 3: In the last twelve months, I've been able to afford

715
00:35:11,200 --> 00:35:14,240
Speaker 3: three holidays and I'm not blinking twice over it because

716
00:35:14,600 --> 00:35:16,920
Speaker 3: I'm that structure. I know exactly what's coming in, exactly

717
00:35:17,000 --> 00:35:20,760
Speaker 3: what's going out, what's you Everything's just automated.

718
00:35:21,000 --> 00:35:23,719
Speaker 2: That's crazy, and like not in a bad way, Like

719
00:35:23,840 --> 00:35:26,760
Speaker 2: that's crazy in like the best of ways. Money darist,

720
00:35:26,960 --> 00:35:28,640
Speaker 2: what do you think your worst money habit?

721
00:35:28,800 --> 00:35:28,840
Speaker 4: Is?

722
00:35:29,360 --> 00:35:33,920
Speaker 3: My worst money habit is laughable. But I have just

723
00:35:34,160 --> 00:35:36,960
Speaker 3: discovered Sheen. I know I'm a late bloomer, but I've

724
00:35:37,120 --> 00:35:40,800
Speaker 3: just discovered Sheen. And I'll say in the last three months,

725
00:35:41,760 --> 00:35:44,120
Speaker 3: actually probably more accurate would be in the last two months.

726
00:35:44,160 --> 00:35:47,120
Speaker 3: I've made three substantial.

727
00:35:46,640 --> 00:35:49,600
Speaker 2: Orders on Sheen. What are we buying on Sheen? Though?

728
00:35:49,880 --> 00:35:53,040
Speaker 2: And also stop buying off Sheen You'll get canceled. You're

729
00:35:53,080 --> 00:35:54,640
Speaker 2: lucky that this part's anonymous.

730
00:35:55,000 --> 00:35:58,720
Speaker 3: Oh thank goodness, No, mostly just clothes. To be honest,

731
00:35:58,800 --> 00:36:00,839
Speaker 3: I don't know who got me on to sh who

732
00:36:00,920 --> 00:36:04,440
Speaker 3: I have to blame for that. That's definitely my worst

733
00:36:04,520 --> 00:36:06,920
Speaker 3: money habit lately. But other than that, I think I'm

734
00:36:06,960 --> 00:36:07,399
Speaker 3: pretty good.

735
00:36:08,719 --> 00:36:10,839
Speaker 2: I just feel like that's not the worst money habit.

736
00:36:11,000 --> 00:36:13,720
Speaker 2: That is fine. I'll let that one slip. Money Diarist.

737
00:36:13,760 --> 00:36:16,279
Speaker 2: At the start of this episode, you said, I think

738
00:36:16,320 --> 00:36:18,640
Speaker 2: I'm gonna bee because, like, everybody has stuff to learn,

739
00:36:18,760 --> 00:36:20,960
Speaker 2: and I agree. I'm the type of person that just

740
00:36:21,040 --> 00:36:24,000
Speaker 2: really loves continuous learning and like learning new things, and

741
00:36:24,080 --> 00:36:27,840
Speaker 2: I'm really like adventurous and I'm going to be adventurous

742
00:36:27,840 --> 00:36:30,000
Speaker 2: and flip this question because I think that you're going

743
00:36:30,080 --> 00:36:32,399
Speaker 2: to say I'm still a Bee, Like I've done really well,

744
00:36:32,440 --> 00:36:34,800
Speaker 2: but as I said, I've got stuff to learn. What

745
00:36:35,080 --> 00:36:37,960
Speaker 2: do you think, baby, you would rate you if they

746
00:36:38,040 --> 00:36:40,399
Speaker 2: were forced to give you a grade from A through death?

747
00:36:40,680 --> 00:36:42,719
Speaker 3: Baby me would one hundred percent give me an A.

748
00:36:43,280 --> 00:36:46,040
Speaker 3: But the only reason I've given myself a BEE is

749
00:36:46,120 --> 00:36:48,799
Speaker 3: because as soon as I've ticked off the share portfolio,

750
00:36:49,360 --> 00:36:49,960
Speaker 3: that'll be my A.

751
00:36:50,280 --> 00:36:53,240
Speaker 2: Okay, And that's a really easy A. The appointments already booked,

752
00:36:53,280 --> 00:36:56,479
Speaker 2: We're already doing it. I'm so excited, Like, my Queen,

753
00:36:56,960 --> 00:36:58,640
Speaker 2: you and I are going to have to do another

754
00:36:58,760 --> 00:37:01,000
Speaker 2: money diary at some point, because I just know you're

755
00:37:01,040 --> 00:37:03,399
Speaker 2: going to be like, hey, they let's do another money diary.

756
00:37:03,560 --> 00:37:05,560
Speaker 2: I've got five properties, and then I'll be like, okay,

757
00:37:05,600 --> 00:37:07,120
Speaker 2: call me again and you'll be like, oh, yeah, I

758
00:37:07,160 --> 00:37:09,680
Speaker 2: got ten. Like this is going to be crazy, and

759
00:37:09,920 --> 00:37:13,439
Speaker 2: just I think the thing that I love about this is, yes,

760
00:37:13,640 --> 00:37:17,400
Speaker 2: it wasn't the most conventional entry to property ownership, but

761
00:37:18,200 --> 00:37:20,719
Speaker 2: what you're doing, you're doing on your own and you're

762
00:37:21,000 --> 00:37:23,480
Speaker 2: on a really great salary, but you're still on a

763
00:37:23,560 --> 00:37:27,560
Speaker 2: really normal salary, Like it's not unreasonable to expect that

764
00:37:28,120 --> 00:37:31,280
Speaker 2: women who are in their early thirties can earn six figures.

765
00:37:31,440 --> 00:37:34,680
Speaker 2: Like it's your budgeting, it's your cash flow, it's your habits,

766
00:37:34,719 --> 00:37:37,040
Speaker 2: it's your mindset, it's all of that that's created the

767
00:37:37,120 --> 00:37:39,520
Speaker 2: life that you have today. And just I am so

768
00:37:39,719 --> 00:37:42,320
Speaker 2: freakin proud of where you've come from and where you're going,

769
00:37:42,520 --> 00:37:45,960
Speaker 2: Like are you kidding me? Like, I'm just I'm so excited,

770
00:37:46,000 --> 00:37:47,759
Speaker 2: and I'm also just so excited that I get to

771
00:37:47,800 --> 00:37:50,480
Speaker 2: share this story with my community, because there are going

772
00:37:50,560 --> 00:37:54,000
Speaker 2: to be people in this community that really resonate with going,

773
00:37:54,040 --> 00:37:56,240
Speaker 2: oh my god, like I had a semi similar upbringing,

774
00:37:56,360 --> 00:37:58,680
Speaker 2: or you know I had that much turmoil or you

775
00:37:58,719 --> 00:38:02,240
Speaker 2: know it felt really bad. Is this something that still

776
00:38:02,920 --> 00:38:07,080
Speaker 2: impacts you today? Like how does your upbringing still impact

777
00:38:07,200 --> 00:38:10,160
Speaker 2: the decisions that you make around money on a daily basis?

778
00:38:10,480 --> 00:38:12,440
Speaker 2: Or you like, no, I've moved on from that, or

779
00:38:12,560 --> 00:38:14,440
Speaker 2: is that still something that like she's in the back

780
00:38:14,440 --> 00:38:17,040
Speaker 2: of your mind and you can't seem to shake it, Like,

781
00:38:17,120 --> 00:38:19,080
Speaker 2: and I feel like it might play into things like

782
00:38:19,520 --> 00:38:21,920
Speaker 2: you wanting to pay off your first property in its

783
00:38:22,120 --> 00:38:24,800
Speaker 2: entirety and owning it outright, so that level of financial

784
00:38:24,920 --> 00:38:28,000
Speaker 2: security because like, on paper, an advice is going to

785
00:38:28,040 --> 00:38:30,880
Speaker 2: tell you that's not the best idea, but in principle

786
00:38:31,040 --> 00:38:34,800
Speaker 2: and emotionally, like you need that and that's what you know,

787
00:38:34,880 --> 00:38:38,600
Speaker 2: good financial advice takes into consideration, Right, So what other

788
00:38:38,760 --> 00:38:42,080
Speaker 2: things do you think at impacting you day to day

789
00:38:42,600 --> 00:38:44,120
Speaker 2: that have come from your childhood?

790
00:38:44,360 --> 00:38:47,480
Speaker 3: I think in my mind, I don't earn one hundred

791
00:38:47,480 --> 00:38:49,920
Speaker 3: and eighteen a year. In my mind, I only own

792
00:38:50,000 --> 00:38:52,920
Speaker 3: like fifty because that's as much as I give myself.

793
00:38:53,520 --> 00:38:56,760
Speaker 3: I like to just really always prioritize my future self

794
00:38:57,000 --> 00:38:59,759
Speaker 3: in that way. And I think if I pay them

795
00:38:59,800 --> 00:39:02,600
Speaker 3: all off now, I can live mortgage free here for

796
00:39:02,640 --> 00:39:05,040
Speaker 3: a couple of years before going back into another mortgage.

797
00:39:05,400 --> 00:39:08,920
Speaker 3: But it does impact me, i'd say daily, in almost

798
00:39:09,080 --> 00:39:13,160
Speaker 3: every transaction, in every interaction that I have, because I'm

799
00:39:13,200 --> 00:39:16,600
Speaker 3: not just thinking about my younger self, but I'm also

800
00:39:16,680 --> 00:39:19,680
Speaker 3: thinking about my future self. I'm not sort of over

801
00:39:19,800 --> 00:39:22,040
Speaker 3: indulging in like nice dinners and things like that, not

802
00:39:22,160 --> 00:39:26,200
Speaker 3: because I don't like them or appreciate them. It's that

803
00:39:26,680 --> 00:39:29,440
Speaker 3: a part of me is like I value it, but

804
00:39:29,560 --> 00:39:32,240
Speaker 3: I don't value it daily.

805
00:39:32,560 --> 00:39:35,560
Speaker 2: No, that makes absolute sense, and I wanted to touch

806
00:39:35,640 --> 00:39:38,200
Speaker 2: on that because I just think that people who are

807
00:39:38,320 --> 00:39:42,320
Speaker 2: in those situations, it's like reflecting back on something you

808
00:39:42,360 --> 00:39:44,000
Speaker 2: said at the start of this episode. You were like,

809
00:39:44,040 --> 00:39:46,120
Speaker 2: when I was eighteen, I was just going to hit

810
00:39:46,239 --> 00:39:48,440
Speaker 2: eighteen and everything would go away and I would be

811
00:39:48,520 --> 00:39:50,239
Speaker 2: different and I would be at peace with it. And

812
00:39:50,360 --> 00:39:52,640
Speaker 2: I think that it's something that you just learn to

813
00:39:52,760 --> 00:39:55,479
Speaker 2: live with and learn to reflect on, and you become

814
00:39:55,840 --> 00:39:58,319
Speaker 2: older and wiser, and that's great, but it's always going

815
00:39:58,400 --> 00:40:00,440
Speaker 2: to impact you. And I think that it's important to

816
00:40:00,480 --> 00:40:03,160
Speaker 2: point that out because there are so many young women

817
00:40:03,239 --> 00:40:06,000
Speaker 2: who listen to this show who might be in similar situations,

818
00:40:06,040 --> 00:40:08,279
Speaker 2: who might be, you know, baby, you at the start

819
00:40:08,360 --> 00:40:10,200
Speaker 2: of your journey when you picked up the podcast for

820
00:40:10,280 --> 00:40:12,320
Speaker 2: the first time, and they need to hear stories like

821
00:40:12,480 --> 00:40:14,840
Speaker 2: this that are like, no, I did this myself and

822
00:40:14,960 --> 00:40:18,080
Speaker 2: you can too. So if we, you know, leave on

823
00:40:18,200 --> 00:40:21,760
Speaker 2: one note, what would be your advice to your past

824
00:40:22,000 --> 00:40:24,800
Speaker 2: self if you were listening to this episode as the

825
00:40:24,960 --> 00:40:25,640
Speaker 2: very first.

826
00:40:25,520 --> 00:40:26,640
Speaker 3: One, start sooner?

827
00:40:27,680 --> 00:40:30,120
Speaker 2: I love that go back in time.

828
00:40:31,640 --> 00:40:34,920
Speaker 3: Oh, I don't know. I feel like it almost wouldn't

829
00:40:34,960 --> 00:40:39,200
Speaker 3: have mattered. It wasn't about what was being shared. It

830
00:40:39,320 --> 00:40:43,719
Speaker 3: wasn't about the content. It was the timing. And when

831
00:40:44,000 --> 00:40:47,040
Speaker 3: you're ready for it, your body, your mind knows you're

832
00:40:47,080 --> 00:40:50,360
Speaker 3: ready for it. Like even talking with friends that I

833
00:40:50,480 --> 00:40:53,760
Speaker 3: have now that are like a year or two younger

834
00:40:53,800 --> 00:40:56,640
Speaker 3: than me who don't own property, like I try to

835
00:40:56,680 --> 00:40:59,040
Speaker 3: have the same conversation that Tash had with me and

836
00:40:59,120 --> 00:41:03,719
Speaker 3: seat of give them that in empowerment and excitement that

837
00:41:04,160 --> 00:41:06,839
Speaker 3: money can bring when you're in control of it, when

838
00:41:06,880 --> 00:41:10,399
Speaker 3: it's not controlling you, and the choice that it gives

839
00:41:10,400 --> 00:41:12,480
Speaker 3: you in the freedom to leave situations you want to,

840
00:41:12,560 --> 00:41:16,200
Speaker 3: whether it's relationships or jobs, whatever, until you are ready

841
00:41:16,280 --> 00:41:19,040
Speaker 3: for it. It actually doesn't matter, like it's got to

842
00:41:19,200 --> 00:41:21,960
Speaker 3: be from within, Like you've got to want it that

843
00:41:22,160 --> 00:41:24,360
Speaker 3: bad that you're willing to make all these changes.

844
00:41:24,600 --> 00:41:27,000
Speaker 2: I'm obsessed, and I feel like that hits the nail

845
00:41:27,080 --> 00:41:29,560
Speaker 2: on the head Money Diresty. It has been an absolute

846
00:41:29,600 --> 00:41:32,120
Speaker 2: privilege sharing the last hour with you, having a good

847
00:41:32,239 --> 00:41:36,759
Speaker 2: chat about absolutely everything from your upbringing to property to

848
00:41:37,160 --> 00:41:39,400
Speaker 2: you know, just you hustling and killing it. I'm so

849
00:41:39,680 --> 00:41:41,920
Speaker 2: obsessed and I just I'm so glad that we got

850
00:41:41,960 --> 00:41:44,080
Speaker 2: to cross paths. So thank you for sharing your journey

851
00:41:44,160 --> 00:41:44,920
Speaker 2: with the community.

852
00:41:45,200 --> 00:41:46,000
Speaker 3: Thank you so much.

853
00:41:51,920 --> 00:41:54,560
Speaker 4: The advice shared on She's on the Money is generally

854
00:41:54,719 --> 00:41:58,480
Speaker 4: nature and does not consider your individual circumstances. She's on

855
00:41:58,560 --> 00:42:01,960
Speaker 4: the Money exists purely for educational purposes and should not

856
00:42:02,120 --> 00:42:03,439
Speaker 4: be relied upon to make an.

857
00:42:03,360 --> 00:42:06,640
Speaker 2: Investment or financial decision. If you do choose to buy

858
00:42:06,640 --> 00:42:08,000
Speaker 2: a financial product.

859
00:42:07,760 --> 00:42:11,200
Speaker 4: Read the PDS TMD and obtain appropriate financial.

860
00:42:10,880 --> 00:42:12,600
Speaker 2: Advice tailored towards your needs.

861
00:42:13,040 --> 00:42:16,920
Speaker 4: Victoria Divine and She's on the Money are authorized representatives

862
00:42:17,000 --> 00:42:20,680
Speaker 4: of Money sherper PTY Ltd a BN three two one

863
00:42:20,920 --> 00:42:24,799
Speaker 4: six four nine two seven seven zero eight AFSL four

864
00:42:24,880 --> 00:42:26,359
Speaker 4: five one two eight nine