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Speaker 1: My name's Natasha Bamblet. I'm a proud First Nations woman

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Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya

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Speaker 1: nianar Kaka yah y and beIN Ahaka nian Our gay

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Speaker 1: In Mbina yakarum jar Dominyama Domaga Ithawaka Woman, Damon Imlan

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Speaker 1: Bomber bang Gadabomba in and now in wakah ghan On

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Speaker 1: yakram jar Watnadaa. Hello, beautiful friends, we gather on the

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

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Speaker 1: the Aberiginal people's land that we're gathering on today. Take

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Speaker 1: pleasure 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: She's on the Money. She's on the Money.

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Speaker 3: Hello, and welcome to She's on the Money, the podcast

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Speaker 3: that lets you be pervy on other people's money habits

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Speaker 3: for educational purposes of course. Welcome back to another one

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Speaker 3: of our money diaries where we get the chance to

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Speaker 3: talk to one of our incredible She's on the Money

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Speaker 3: community members all about their journey. Now let's jump in

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Speaker 3: because this week I got an email and it sounded

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Speaker 3: exactly like this. Hi, she's on the money. My fiance

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Speaker 3: convinced me to use my inheritance to buy an apartment

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Speaker 3: and put him on the title as a joint tenant.

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Speaker 3: Two months before the wedding, he said it's you, not me,

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Speaker 3: and tried to force me to sell the apartment so

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Speaker 3: he could get money he didn't put in in the

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Speaker 3: two years since I've submitted a PhD thesis, of course,

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Speaker 3: she has got a new job, then got a thirty

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Speaker 3: thousand dollar pay rise, and I am finally the sole

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Speaker 3: owner of the apartment he convinced me to buy. She's

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Speaker 3: on the money. Help me build my confidence and audacity

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Speaker 3: through this journey, and I am forever grateful. Queen. Welcome

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Speaker 3: to the show.

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Speaker 4: Thank you so much for having me. It's really exciting

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Speaker 4: to be here.

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Speaker 3: Sorry, this guy sounds like a douche. I'm so glad

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Speaker 3: that the wedding didn't happen. What do you mean it's

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Speaker 3: you not me? It was never you, It was him, Tossa.

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Speaker 4: Well, that's what my therapist has helped me come to

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Speaker 4: the realization of.

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Speaker 3: Like that is textbook manipulation. Like just could he have

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Speaker 3: been a little bit more subtle.

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Speaker 4: At least he was subtle at the beginning. That's why

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Speaker 4: I stayed with him so long. But then it just

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Speaker 4: got worse. It kept going on, and then yeah, just

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Speaker 4: at the very end, he's like, no, don't want this anymore.

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Speaker 3: Oh my god, but I do want your apartment. So

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Speaker 3: let's go with that money queen. I want to start

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Speaker 3: at the very start before I get the pleasure of

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Speaker 3: asking you about your money story. I'm going to ask

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Speaker 3: you what grade would you give your money habits if

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Speaker 3: I asked you to give them a grade from A

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Speaker 3: through to F.

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Speaker 4: Naturally, I just want to go straight F. But actually

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Speaker 4: thinking about it and thinking about where I've come from

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Speaker 4: and where I am now, I think I'm comfortable seeing AC.

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Speaker 3: Plus C plus Sorry, you submitted a PhD thesis, got

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Speaker 3: a job, and then got a thirty thousand dollars pay rise,

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Speaker 3: and you're the sole owner of the apartment. Somebody else

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Speaker 3: convinced you to buy. So like, we're probably going to

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Speaker 3: have a little bit of beef in this interview, and

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Speaker 3: that's fine. Work through it. And you've got a therapist,

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Speaker 3: so you could probably talk to her about that after

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Speaker 3: C plus, Queen, you already don't sound like a C plus,

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Speaker 3: but let's get into it. I'm so pervy. I need

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Speaker 3: to know. Tell me more about your money story.

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Speaker 4: Yeah, so, I think, as I said, like a lot

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Speaker 4: of what I've gone through has come from my ex.

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Speaker 4: But kind of going back to how I got into

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Speaker 4: that situation, I was late diagnosed with ADHD and this calculata,

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Speaker 4: So basically my entire childhood and the beginning of being

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Speaker 4: an adult, I kind of really just had knew that

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Speaker 4: there was something wrong with me, but didn't know what

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Speaker 4: it was. I just thought I was really bad at math,

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Speaker 4: really bad at money, and like having a casual job,

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Speaker 4: I just spent all of my money and had nothing

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Speaker 4: the end of it. And then with the ADHD, I

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Speaker 4: also had this massive need to people please, so I

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Speaker 4: would also spend my money pleasing people, buying things because

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Speaker 4: I knew that made me happy, so I always just

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Speaker 4: yet I had absolutely no money to my name. And

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Speaker 4: then when I did get with my ex, he kind

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Speaker 4: of I didn't know this at the beginning, but he

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Speaker 4: kind of saw that about me and then basically always

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Speaker 4: said like negative comments about my ability with money, kind

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Speaker 4: of destroying my confidence in that sense. And then when

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Speaker 4: we were living together, it was kind of a He

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Speaker 4: would say, Oh, you're really bad with money, so why

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Speaker 4: don't you buy everything we need and I will save

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Speaker 4: for our future. So as far as I was where,

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Speaker 4: he was saving for our future and for our wedding

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Speaker 4: and everything like that. And then I was buying everything.

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Speaker 4: I was paying all the bills, I was buying clothes,

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Speaker 4: his underwear that he wore and everything like that. And

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Speaker 4: then at that time, I thought our relationship was really

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Speaker 4: healthy and loving, and I was obsessed with this man,

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Speaker 4: so I would do anything for him, just like that

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Speaker 4: bread crumbing that my therapist has stalked about totally.

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Speaker 3: And when you have ADHD, you'd lean real heart into

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Speaker 3: that too.

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Speaker 4: Yeah, exactly exactly. And then yeah, I started doing my PhD.

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Speaker 4: Halfway through that. I was on forty thousand dollars a

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Speaker 4: year while I was doing my PhD, and every cent

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Speaker 4: that I had was going into that relationship. And then

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Speaker 4: finally I came into my inheritance, which obviously was really

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Speaker 4: really upsetting, but I finally just had access to all

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Speaker 4: of this money, and I've never had access to money.

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Speaker 4: Everyone's always told me that was really bad at money,

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Speaker 4: and I trusted my ex and I was like, I

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Speaker 4: don't know what to do with this. If it stays

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Speaker 4: with me, I will spend it. And he said, well,

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Speaker 4: that's enough to buy a house. So we started looking

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Speaker 4: at a house. But then that fell all completely to

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Speaker 4: me to find a house, find an apartment, and so

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Speaker 4: I did all that paperwork, I did everything. I used

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Speaker 4: my money for the deposit, We used his income because

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Speaker 4: he was full time working and I was only on

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Speaker 4: forty thousand dollars. Yeah, So then we ended up finding

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Speaker 4: the apartment, used my entire inheritance to fund the deposit,

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Speaker 4: buy all the white goods, buy all the furniture, everything

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Speaker 4: for it. And by the end of it, I had

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Speaker 4: nothing with his income. He was military, so we were

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Speaker 4: able to go through Defense Bank. We'll be able to

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Speaker 4: get doehouse. And he said that the money that Dohaus

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Speaker 4: was giving us was his contribution to the mortgage, so

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Speaker 4: he didn't put anything extra into it.

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Speaker 3: This man, oh I know.

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Speaker 4: Yeah, and then so two months later.

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Speaker 3: Two months he didn't even give it more than two months.

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Speaker 4: Yeah. This was during COVID, so like the house prices

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Speaker 4: were just astonomically increasing. So we got a really good

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Speaker 4: deal on this apartment. Two months later, he turned around

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Speaker 4: and told me he had been having an affair. He

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Speaker 4: was leaving me because during my PhD I wasn't giving

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Speaker 4: him enough attention. This other woman was giving him the

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Speaker 4: attention that he needed.

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Speaker 3: I hate this man. I like, I'll fight him, Like

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Speaker 3: ahh yeah, No.

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Speaker 4: My friends are exactly saying whenever I tell them this story,

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Speaker 4: they're like, if we had known what he was like.

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Speaker 3: So this man was like, great, I'm going to take

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Speaker 3: advantage of money, Diris, get her to get a house.

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Speaker 3: I'm going to gaslight her about you know, what the

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Speaker 3: military contributes, and that could be micro contribution. Also, by

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Speaker 3: the way, I've been cheating on her the whole time

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Speaker 3: because I'm just a stellar human being.

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Speaker 4: Yeah yeah, But like people pleased this, I was like, oh,

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Speaker 4: it's obviously something wrong with me. I'm doing the wrong thing.

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Speaker 3: No, no, I want to shake everybody who does that.

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Speaker 3: It was never you. And do you know what, you

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Speaker 3: could have been the worst partner in the entire world.

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Speaker 3: You still don't cheat? Yeah, like you could have been.

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Speaker 3: You could have been, and like I already know you weren't.

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Speaker 3: Like I can tell from your vibe and your personality

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Speaker 3: and what you've achieved, since that's not you at all,

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Speaker 3: but the idea that they're like, well, I had permission

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Speaker 3: to cheat because she did this. Cer leave the relationship.

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Speaker 3: If you want to be with somebody else, you are disgraceful.

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Speaker 4: Yeah. And the worst part is is the person that

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Speaker 4: he was cheating on me with knew that he was

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Speaker 4: soon to be married, because this was also two months

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Speaker 4: before we were going to actually get married, because the

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Speaker 4: goal was I would submit my PhD thesis and we

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Speaker 4: would get married at like that whole event. So it

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Speaker 4: was just a nice, big day, just celebrating all the

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Speaker 4: good things, you know, the end of a lot of

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Speaker 4: stress that I've been going through.

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Speaker 3: Yeah, in theory, gorgeous, except he was a douchebag. You

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Speaker 3: know what. The cream always rises to the top. That's you,

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Speaker 3: and we can just pick you up and take you

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Speaker 3: out of that situation, even if it's painful. You're in

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Speaker 3: a better situation now, are you okay? Because that feels

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Speaker 3: like a lot of trauma to go through.

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Speaker 4: It was especially writing a PhD thesis at the same

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Speaker 4: time going through all of that, so it was a

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Speaker 4: lot all at once. But I feel like something in

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Speaker 4: my head just clipped, like it just everything kind of clicked,

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Speaker 4: and I was just able to just separate it as like,

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Speaker 4: all right, I'm going to focus on my thesis, going

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Speaker 4: to submit this, have a PhD, and then I would

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Speaker 4: deal with all of that mess later. So we did

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Speaker 4: get to it.

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Speaker 3: Okay. So we got through that. And you mentioned before

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Speaker 3: you have got some therapy, which is a ten out

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Speaker 3: of ten idea, because I feel like you were saying

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Speaker 3: before I thought it was my fault. No, queen, no, no,

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Speaker 3: tell me now, you did your pH d thesis in.

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Speaker 4: What cancer immunotherapy? So using surgery to treat cancer?

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Speaker 3: Stop it? That is so cool. Tell me more about

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Speaker 3: your job. What do you do for work? Now? How

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Speaker 3: much do you earn?

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Speaker 4: Yeah? So I have three sources of income three Yeah,

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Speaker 4: to be able to get the mortgage on my own,

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Speaker 4: my full time job wasn't enough. So for my job,

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Speaker 4: I am a research officer. I'm currently earning ninety five

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Speaker 4: thousand dollars with twelve percent super. On top of that,

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Speaker 4: the company I work for is a charity, so I'm

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Speaker 4: able to access fifteen thousand of that tax free, and

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Speaker 4: that goes directly into my mortgage. Then I'm also a

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Speaker 4: tutor for high school human biology that brings in about

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Speaker 4: ten thousand a year, but I do that as a

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Speaker 4: soul trader, so I automatically put half furd aside to

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Speaker 4: make sure I pay tax, and I pay my hex

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Speaker 4: and Super as well for that. And then at the

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Speaker 4: same time of me going through all of this, I

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Speaker 4: was kind of lonely. So one of my best is

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Speaker 4: she was like, I'm going to come and help you.

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Speaker 4: I'm going to come and live with you. So she

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Speaker 4: moved into my spare bedroom and she stayed here ever since,

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Speaker 4: and she pays me two hundred dollars a week in rent,

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Speaker 4: so I get about ten thousand dollars a year from that.

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Speaker 3: Sorry, you have this calcula and you are managing all

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Speaker 3: of this and also doing your own bloody tax returns

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Speaker 3: and putting money aside for tax. Sorry, this is iconic.

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Speaker 4: It's very hard, but a lot of what I've learned.

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Speaker 3: I didn't say it was easy, but how many people

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Speaker 3: just don't even try. When they're like, oh, I've got this,

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Speaker 3: I could never. I could never. Like you tell yourself

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Speaker 3: this narrative that you have to fall into a particular

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Speaker 3: box you are outside of that. You're like, no, no, no,

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Speaker 3: that's not going to stop me. It can't be that.

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Speaker 3: Hard men do finance and we know what they like.

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Speaker 4: Honestly knowing all of this stuff actually comes down to

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Speaker 4: listening to you and the pop podcast. Because when I

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Speaker 4: separated from my eggs, one thing I knew I needed

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Speaker 4: to get my money sorted. So every day I would

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Speaker 4: go for an hour walk just to sender myself and

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Speaker 4: I would listen to Shoes on the Money.

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Speaker 3: So we've been hanging out for ages.

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Speaker 4: Yeah, every day for three years.

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Speaker 3: We're basically best friends that haven't met yet. I love this.

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Speaker 3: This is so good. Tell me a little bit more

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Speaker 3: about the process, because do you know what he put

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Speaker 3: you in? A tricky situation? He wanted you to sell

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Speaker 3: the apartment. How did you stop that from happening? How

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Speaker 3: did he get hands on any money?

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Speaker 4: Like?

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Speaker 3: What does that look like?

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Speaker 4: Yeah, so at the time when we separated, I wasn't

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Speaker 4: earning enough money to get a mortgage on my own,

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Speaker 4: but I had a little bit of money put to

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Speaker 4: the side which I was able to use to hire

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Speaker 4: a lawyer. So my lawyer was able to really do

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Speaker 4: a good job of what he deserved what I deserved

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Speaker 4: and basically push the process out to a point where

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Speaker 4: I would be able to get a mortgage on my

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Speaker 4: own because I fell in love with this place, so

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Speaker 4: I didn't want to leave it. I didn't want to

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Speaker 4: sell it.

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Speaker 3: And it's kind of your inheritance. Still, Yes, you were

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Speaker 3: pushed down a certain route, but like, that's still what

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Speaker 3: your inheritance purchased.

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Speaker 4: Yeah, exactly. I'm attached to this place. I didn't want

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Speaker 4: to get rid of it. So she really helped me

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Speaker 4: going through that process. We had to go through the

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Speaker 4: family court basically to divide all our assets because we

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Speaker 4: were de facto so he was entitled to half of everything.

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Speaker 4: I was entitled to half of everything. But the only

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Speaker 4: asset we had between us was this apartment. At the

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Speaker 4: time of valuation, the apartment was worth basically if we

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Speaker 4: were to split it in half, it was one hundred

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Speaker 4: thousand dollars, so fifty thousand dollars for him, fifty thousand

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Speaker 4: dollars for me. So I was able to increase my

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Speaker 4: mortgage by fifty thousand dollars to buy him out. And

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Speaker 4: that's that's how I ended up doing it.

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Speaker 3: Good job Queen also fifty grand to get him to

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Speaker 3: jump in the binn perfect.

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Speaker 4: Yeah, obviously hard lawyer fees on top of that. So

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Speaker 4: in total, I think it was about sixty five thousand

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Speaker 4: dollars I spent, but worth it?

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Speaker 3: And what will that look like in the future if

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Speaker 3: you meet somebody else and go or I'm going to

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Speaker 3: set up shop. Are you now a little bit more

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Speaker 3: protective of these things or like, have you got a

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Speaker 3: plan in place? Because I feel like once you've been traumatized,

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Speaker 3: once you were like this is you cannot come near me?

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Speaker 4: Yeap So listening to your podcast, I learn about buy

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Speaker 4: any financial agreements and also talking to my lawyer about

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Speaker 4: like how to set up everything like that. So if

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Speaker 4: I do get into a relationship and I think is

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Speaker 4: going serious, I'm going straight back to my lawyer. I'm like, hey,

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Speaker 4: can you set this up for me?

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Speaker 3: And yeah, yes, yes, iconic move.

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Speaker 4: I love that.

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Speaker 3: So you've got your apartment. I feel like you are

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Speaker 3: absolutely on such a good track. What's your next big

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Speaker 3: money goal? What are you currently working towards?

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Speaker 4: Well, I spent all of my money to be able

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Speaker 4: to get this apartment, so I don't have an emergency fund.

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Speaker 4: So my next big money goal is to finally get

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Speaker 4: that emergency fund for me, and then I also have

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Speaker 4: three cats.

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Speaker 3: Oh you are my PayPal.

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Speaker 4: Yes, yeah, I want to be able to pay for them,

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Speaker 4: so I need like a good fund. And then eventually

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Speaker 4: I want to go back to UNI and I want

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Speaker 4: to study to be a veterinarian. So I also kind

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Speaker 4: of want to be able to find myself through that.

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Speaker 3: You're such a wholesome human being. I love this. Of

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Speaker 3: course you want to be a vet though you've got

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Speaker 3: three cats. I would have three cats if my husband

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Speaker 3: would let me have three cats, but we had to

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Speaker 3: set all on two cats and a dog. And right now,

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Speaker 3: my next thing that I keep asking for is a duck,

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Speaker 3: so we'll get there.

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Speaker 4: I also want ducks, yeah.

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Speaker 3: I want to do I need two ducks, and I've

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Speaker 3: decided I want runner ducks because they look like the

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Speaker 3: coolest type of duck, long neck one. Yeah, with the

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Speaker 3: long necks, and they look a little bit comical. I

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Speaker 3: just think that would be so fun. I would love

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Speaker 3: for ducks to live in my garden. My husband does

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Speaker 3: not feel the same way. All right, let's get back

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Speaker 3: on money track. We're going to take a really quick

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Speaker 3: break and on the flip side, I'm going to ask

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Speaker 3: you more about this mortgage, how it worked, what it

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Speaker 3: looks like, what debt is on it, and I want

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Speaker 3: to know about investing and then best and worst money habits.

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Speaker 3: So guys don't go anywhere. All right, money Diarist, we

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Speaker 3: are back, and this story is juicy. Don't get me wrong,

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Speaker 3: love a good money story, but I do like hearing

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Speaker 3: a little bit of the drama as well, Like and

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Speaker 3: my favorite type of drama is the type where you're like,

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Speaker 3: I'm actually fine now, but this is my story where

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Speaker 3: you're not going through it at the moment, so it's

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Speaker 3: like all clean, you know. So jumping into this, you're

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Speaker 3: in the She's on the money community. You and I

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Speaker 3: have been hanging out for like an hour every day,

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Speaker 3: which is so crazy. Do you invest if not? What's

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Speaker 3: the plan? If so?

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Speaker 4: In what? Yes? So obviously I have my super I

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Speaker 4: was working casually most of my life, so it's not

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Speaker 4: a lot. But I was really lucky that my best

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Speaker 4: friend married the financial advisor who specialized in super so

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Speaker 4: he set that up. And I've got about sixty thousand

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Speaker 4: dollars in there.

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Speaker 3: What do you mean you don't have much. You're literally

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Speaker 3: thirty one with sixty grand in super sit down.

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Speaker 4: Yeah, and then also from she's on the money, I've

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Speaker 4: started actually investing. So I've only been doing this for

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Speaker 4: about a year, but luckily my income allows it, so

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Speaker 4: I've managed to get that too. Sick. Five hundred dollars

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Speaker 4: in ETFs.

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Speaker 3: Oh my god, sorry, that is iconic. You're like, yeah,

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Speaker 3: so it's not much, and then you slam me with

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Speaker 3: sixty grand in super and six grand in shares. Sit down.

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Speaker 3: How did you make the first move when it came

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Speaker 3: to shares, because I feel like so much of the

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Speaker 3: time women, especially when we maybe have been through a

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Speaker 3: lot financially, we're so scared to pull the trigger. How

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Speaker 3: did you decide to purchase your first ETF?

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Speaker 4: Well, I'd learned about investing through the podcast, so I

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Speaker 4: knew it was something that I wanted to do, and

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Speaker 4: it aligned with my values more than like buying a

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Speaker 4: house would have if I'd known about that beforehand. But

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Speaker 4: ADHD very impulsive, looked on Reddit Reddit, so this was

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Speaker 4: a good idea. So I pulled the trigger straight away

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Speaker 4: without even doing any more research. Not the smartest thing,

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Speaker 4: but it's like that.

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Speaker 3: Well, no, sorry, that was just like the gateway. You

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Speaker 3: can change it after that. But like literally for a

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Speaker 3: lot of people, that's taking the first step. How has

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Speaker 3: your investment journey gone having dyscalcula because that is quite challenging.

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Speaker 3: And the thing that I think is one of the

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Speaker 3: big misconceptions is that money is numbers and money is

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Speaker 3: not numbers. If you start to learn more about it,

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Speaker 3: the numbers we can do that you don't have to

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Speaker 3: add anything together. We have calculators literally on our phone.

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Speaker 3: Shout out to my Grain nine maths teacher who was like,

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Speaker 3: you're not going to have a calculator walking around every day? Yeah,

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Speaker 3: I do. I do, and it's fine, and I actually

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Speaker 3: don't need you. You don't have to be good at

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Speaker 3: maths to be good at money. So tell me about

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Speaker 3: how that has impacted your investing journey.

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Speaker 4: So the biggest issue that I have with the this

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Speaker 4: calculator is that I struggle getting numbers in the right order.

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Speaker 4: So I always have to double check whenever I do

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Speaker 4: any sort of maths anything to do with numbers, because

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Speaker 4: I can read them the wrong way. So that really

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Speaker 4: impacts my ability to budget because I'll do a budget

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Speaker 4: and then I'll realize I've got something wrong in that budget,

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Speaker 4: and then I've spent more money than I thought that

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Speaker 4: I had, So it hasn't impacted investing in any major ways.

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Speaker 4: More that I might have accidentally put in more money

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Speaker 4: than I thought I had, or I've put in less

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Speaker 4: money than I thought I had so that I could

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Speaker 4: add in a bit more.

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Speaker 3: Yeah, yeah, that makes sense? And does that make it?

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Speaker 3: Like as you said, like you read your budget and

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Speaker 3: for those of you playing along at home, discalcula is

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Speaker 3: where you literally look at numbers and they scramble and

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Speaker 3: they make no sense. And it's not because you're not smart.

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Speaker 3: It's literally they flip around in front of you and

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Speaker 3: it's your eyes basically playing tricks on you. So a

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Speaker 3: million dollars could look like a thousand dollars. How do

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Speaker 3: you then identify in your budget what's wrong? Like do

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Speaker 3: you go, oh my god, Like, how do how do

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Speaker 3: I work this out? Because that could be really confusing.

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Speaker 4: Yeah, it's taken me a long time to kind of

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Speaker 4: get my budget to somewhere where it's automated and I

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Speaker 4: don't have to worry about it. But it took a

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Speaker 4: long time setting it up, double checking that like I've

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Speaker 4: put in my bills correctly, double checking that, like I've

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Speaker 4: got enough amount of money for food, and so once

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Speaker 4: I double checked everything and I got it to a

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Speaker 4: point where it was fine. It's just automated, Like everything

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Speaker 4: just tracks and I don't need to worry about the numbers.

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Speaker 3: I love automation for ADHD, but also for this, like

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Speaker 3: it's probably like doubling down and being beneficial for you.

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Speaker 3: How do you manage? And I'm just so pervy on

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Speaker 3: this because like I have ADHD as well, and I

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Speaker 3: can be impulsive, but I also feel like I'm now

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Speaker 3: good at managing my budget. But when your budget is

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Speaker 3: challenging and you have ADHD, how does that play out?

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Speaker 4: So I've learned that I am very impulsive, and I

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Speaker 4: get a lot of dopamine from spending money, so trying

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Speaker 4: to not do that is the worst thing possible. So

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Speaker 4: now I have a line item in my budget called

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Speaker 4: dopamine fund, and that is money that I can spend

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Speaker 4: freely on anything that my brain is like, oh I

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Speaker 4: kind of want that one, Oh I kind of want that.

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Speaker 3: I say that I feel spendy. I'm like, oh, I

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Speaker 3: feel spendy today, And I like talking about it, because

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Speaker 3: I'm like, if I talk about it, maybe we can

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Speaker 3: talk me out of this. But that's genius having a

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Speaker 3: line item that is like, okay, so on the days

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Speaker 3: that I'm feeling spendy, I'm not actually going to ruin

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Speaker 3: my financial plan. How good, quin, I love that talk

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Speaker 3: to me about debt. It took you a while to

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Speaker 3: get into a position you could take on a mortgage solo.

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Speaker 3: What does that mortgage look like? How much did you

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Speaker 3: purchase that house for? What is it worth?

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Speaker 4: Now?

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Speaker 3: Give me all the nitty gritty.

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Speaker 4: Yeah, So, originally the house was purchased for four hundred

435
00:20:12,119 --> 00:20:14,800
Speaker 4: and seventy five thousand dollars. Then with the deposit, it

436
00:20:14,840 --> 00:20:18,520
Speaker 4: brought it down to four hundred and twenty thousand dollars,

437
00:20:19,119 --> 00:20:21,760
Speaker 4: and then I had to add fifty thousand dollars to

438
00:20:21,880 --> 00:20:23,520
Speaker 4: that so then I could own it on my own.

439
00:20:23,600 --> 00:20:27,040
Speaker 4: So it's now at four hundred and seventy two thousand dollars.

440
00:20:27,320 --> 00:20:30,200
Speaker 4: But over the past two years since it's all happened,

441
00:20:30,320 --> 00:20:33,560
Speaker 4: apartments have just increased in price and it's now worth

442
00:20:33,720 --> 00:20:35,560
Speaker 4: six hundred and fifty thousand dollars.

443
00:20:35,800 --> 00:20:39,840
Speaker 3: Stop it, you're sitting on such nice equity. Yeah, And

444
00:20:39,920 --> 00:20:41,359
Speaker 3: I mean it's not nice to have to pay your

445
00:20:41,400 --> 00:20:43,119
Speaker 3: ex out. No one wants to give your ex money.

446
00:20:43,160 --> 00:20:44,600
Speaker 3: I don't even want him to have that money, do

447
00:20:44,600 --> 00:20:45,760
Speaker 3: you know what? I hope he blew it all. I

448
00:20:45,760 --> 00:20:47,800
Speaker 3: hope he doesn't benefit from it. But the fact that

449
00:20:47,840 --> 00:20:50,360
Speaker 3: you got to keep the asset that increased in value

450
00:20:50,640 --> 00:20:53,639
Speaker 3: and he got none of that pie iconic.

451
00:20:53,880 --> 00:20:54,240
Speaker 1: Ah.

452
00:20:54,400 --> 00:20:57,840
Speaker 3: I literally love that for you so much. So tell

453
00:20:57,880 --> 00:21:00,760
Speaker 3: me about mortgage stress, Like what does that look like?

454
00:21:00,800 --> 00:21:03,120
Speaker 3: Obviously you've now been approved for a mortgage, but you said, look,

455
00:21:03,320 --> 00:21:05,359
Speaker 3: I've got three sources of income to make sure that

456
00:21:05,400 --> 00:21:09,040
Speaker 3: I can service this mortgage. Is that something that eats

457
00:21:09,040 --> 00:21:11,400
Speaker 3: away like fifty percent of your budget or like, what

458
00:21:11,440 --> 00:21:12,399
Speaker 3: does that look like?

459
00:21:12,960 --> 00:21:19,480
Speaker 4: So it's about forty percent of my full time income,

460
00:21:20,040 --> 00:21:22,840
Speaker 4: So it is a bit stressful. But having the tutoring,

461
00:21:22,880 --> 00:21:24,439
Speaker 4: which I can take on more if I need a

462
00:21:24,440 --> 00:21:26,160
Speaker 4: bit more money, or do a bit less if I don't,

463
00:21:26,200 --> 00:21:28,720
Speaker 4: and then also having the income my best he pays

464
00:21:28,800 --> 00:21:31,640
Speaker 4: me for the spare room also help so I know that,

465
00:21:31,680 --> 00:21:34,320
Speaker 4: like it's always going to be paid and it's always

466
00:21:34,320 --> 00:21:36,600
Speaker 4: the first thing I pay, so them I don't accidentally

467
00:21:36,600 --> 00:21:40,160
Speaker 4: spend that money with my aiding HD. So it's stressful,

468
00:21:40,400 --> 00:21:42,400
Speaker 4: but I know that it will get better.

469
00:21:42,480 --> 00:21:45,479
Speaker 3: Yeah, one hundred percent, and as your income increases over time,

470
00:21:45,800 --> 00:21:49,679
Speaker 3: you'll be absolutely fine. It's just really stressful, Like, especially

471
00:21:49,720 --> 00:21:51,800
Speaker 3: when you first get your mortgage. I feel like the

472
00:21:51,840 --> 00:21:56,200
Speaker 3: first twelve months of being completely responsible for a mortgage

473
00:21:56,560 --> 00:21:58,800
Speaker 3: they're the worst twelve months because like, you've got to

474
00:21:58,840 --> 00:22:01,679
Speaker 3: work out what that actually looks. And I think that

475
00:22:01,760 --> 00:22:03,400
Speaker 3: it's so easy to do a budget at the start

476
00:22:03,440 --> 00:22:05,160
Speaker 3: and they might go, babe, it's three and a half

477
00:22:05,160 --> 00:22:07,640
Speaker 3: thousand dollars a month or whatever it is, and then

478
00:22:07,680 --> 00:22:09,959
Speaker 3: you go, great, that math maths. But then there's all

479
00:22:10,000 --> 00:22:13,080
Speaker 3: the additional costs around owning a house that maybe didn't

480
00:22:13,080 --> 00:22:14,800
Speaker 3: come with renting, and then you're like, wait, what do

481
00:22:14,840 --> 00:22:16,720
Speaker 3: you mean? And you won't have land tax, but like

482
00:22:16,760 --> 00:22:19,159
Speaker 3: if you owned a standalone home, you might be slammed

483
00:22:19,160 --> 00:22:21,480
Speaker 3: with land tax and you're like, wait, I didn't plan

484
00:22:21,600 --> 00:22:24,320
Speaker 3: for this, and you're just budget it's in a pickle

485
00:22:24,400 --> 00:22:27,360
Speaker 3: for twelve months while you go through the teething process

486
00:22:27,400 --> 00:22:29,560
Speaker 3: of working out what's going on. Do you have to

487
00:22:29,600 --> 00:22:31,880
Speaker 3: pay body, corporate and stuff with your property?

488
00:22:32,080 --> 00:22:34,479
Speaker 4: Yeah? And that was again, like I didn't know anything

489
00:22:34,520 --> 00:22:36,399
Speaker 4: about home ownership when I bought this place. It was

490
00:22:36,440 --> 00:22:39,240
Speaker 4: just he said he wanted an apartment. So I was like, fine,

491
00:22:39,359 --> 00:22:41,040
Speaker 4: we have the money, like this is for our future,

492
00:22:41,119 --> 00:22:44,760
Speaker 4: so oh go jump a head in first. And then yeah,

493
00:22:44,800 --> 00:22:47,040
Speaker 4: I found out, you know, we have to pay water

494
00:22:47,119 --> 00:22:51,240
Speaker 4: rates because where I live, owners have to pay the

495
00:22:51,400 --> 00:22:56,480
Speaker 4: water supply and usage. Then obviously the electricity supply as well.

496
00:22:57,280 --> 00:23:00,920
Speaker 4: I have to pay my council rates, have to pay

497
00:23:01,320 --> 00:23:04,720
Speaker 4: like strata fees, and then yeah, the mortgage itself. So

498
00:23:04,720 --> 00:23:07,280
Speaker 4: there's all these extra costs. I didn't even know was

499
00:23:07,280 --> 00:23:10,400
Speaker 4: the thing until I owned a house. And then maintenance

500
00:23:10,440 --> 00:23:12,800
Speaker 4: as well, like I have to get some of my

501
00:23:12,920 --> 00:23:17,240
Speaker 4: taps changed because they're leaking. House Like this is so expensive.

502
00:23:16,840 --> 00:23:17,080
Speaker 1: I know.

503
00:23:17,119 --> 00:23:19,120
Speaker 3: And you can't just call your landlord and be like, hey,

504
00:23:19,119 --> 00:23:21,640
Speaker 3: the tap doesn't work and then it magically gets fixed.

505
00:23:21,920 --> 00:23:24,000
Speaker 3: What do you mean I have to pick the tap

506
00:23:24,280 --> 00:23:26,800
Speaker 3: by the tap, get a plumber to install the tap,

507
00:23:26,840 --> 00:23:29,400
Speaker 3: and then follow the plumber up if the tap still leaks.

508
00:23:29,600 --> 00:23:33,400
Speaker 3: What do you mean? That's too much responsibility and money? Yeah,

509
00:23:33,440 --> 00:23:35,560
Speaker 3: and let alone anything else you like, if that air

510
00:23:35,600 --> 00:23:40,239
Speaker 3: conditioner breaks, I will riot. Yeah, oh my gosh, I

511
00:23:40,280 --> 00:23:42,000
Speaker 3: totally get it, but I do feel like the first

512
00:23:42,000 --> 00:23:44,919
Speaker 3: twelve months, and I always like warn my clients. I'm like,

513
00:23:45,080 --> 00:23:47,520
Speaker 3: it's not just the mortgage repayment, queen, it is all

514
00:23:47,560 --> 00:23:49,919
Speaker 3: of the other stuff that comes along with owning it.

515
00:23:50,280 --> 00:23:53,040
Speaker 3: And then yeah, it's just a lot. But it sounds

516
00:23:53,040 --> 00:23:56,160
Speaker 3: like you've got a pretty good handle on it. Talk

517
00:23:56,200 --> 00:23:58,720
Speaker 3: to me about your best money habit. What do you

518
00:23:58,720 --> 00:23:59,399
Speaker 3: think that is?

519
00:23:59,760 --> 00:24:02,760
Speaker 4: I think, really my best money habit has come from

520
00:24:02,880 --> 00:24:08,760
Speaker 4: understanding my ADHD, so understanding that my money will slip

521
00:24:08,760 --> 00:24:11,399
Speaker 4: away because I just want to spend it to make

522
00:24:11,480 --> 00:24:14,240
Speaker 4: me happy. So I think, yeah, having that dopamine fund

523
00:24:14,440 --> 00:24:17,199
Speaker 4: is really my best habit is because I can spend,

524
00:24:17,320 --> 00:24:19,959
Speaker 4: but I'm not sacrificing any of my other goals for it.

525
00:24:20,000 --> 00:24:22,000
Speaker 3: And I mean, you're still investing, and you still have

526
00:24:22,080 --> 00:24:24,480
Speaker 3: your mortgage, and you've got a good super and you

527
00:24:24,560 --> 00:24:27,239
Speaker 3: said before that your bestie is in a relationship with

528
00:24:27,400 --> 00:24:30,320
Speaker 3: a financial advisor, so that benefits you because you know

529
00:24:30,359 --> 00:24:32,880
Speaker 3: that that's just taken along. Well, I feel like you're

530
00:24:32,880 --> 00:24:36,560
Speaker 3: in a pretty good position. Flip the narrative for hot second, though,

531
00:24:36,600 --> 00:24:37,800
Speaker 3: what's your worst money habit?

532
00:24:37,960 --> 00:24:41,560
Speaker 4: My cats, I will buy them the best things of

533
00:24:41,880 --> 00:24:45,679
Speaker 4: everything without even thinking about it. Like I bought the

534
00:24:45,760 --> 00:24:48,239
Speaker 4: May two thousand dollars scratching tower because I was like, oh,

535
00:24:48,240 --> 00:24:49,640
Speaker 4: they really like it? You want?

536
00:24:50,240 --> 00:24:52,480
Speaker 3: I can't even justify that. Can you please send me

537
00:24:52,520 --> 00:24:54,159
Speaker 3: the link? I need to know what it looks like.

538
00:24:54,600 --> 00:24:57,800
Speaker 4: It's not attractive, but it's so it's like twice as

539
00:24:57,840 --> 00:24:58,600
Speaker 4: tall as I am.

540
00:24:58,880 --> 00:25:01,239
Speaker 3: Is it like functional? Do they like it? Did you

541
00:25:01,280 --> 00:25:03,040
Speaker 3: spend two grand and then your cat was like, I

542
00:25:03,080 --> 00:25:06,320
Speaker 3: actually prefer a cardboard box like mine would. Or do

543
00:25:06,400 --> 00:25:08,400
Speaker 3: they like their scratching post.

544
00:25:08,440 --> 00:25:10,800
Speaker 4: They've done it before, or I've spent a lot of

545
00:25:10,840 --> 00:25:12,520
Speaker 4: money on them and then they've hated it. But I

546
00:25:12,600 --> 00:25:17,040
Speaker 4: found the trick is all of my cats react to catnip,

547
00:25:17,520 --> 00:25:21,080
Speaker 4: so if I spray catnip on it, they will follow

548
00:25:21,080 --> 00:25:22,879
Speaker 4: the cat nip up and now they associate it with

549
00:25:22,920 --> 00:25:23,879
Speaker 4: them and they use it.

550
00:25:23,960 --> 00:25:26,040
Speaker 3: I love that. I recently bought my cat a new

551
00:25:26,080 --> 00:25:28,520
Speaker 3: bed and this morning I found him sleeping on it

552
00:25:28,680 --> 00:25:30,360
Speaker 3: on a wet bath mat in the bathroom.

553
00:25:30,560 --> 00:25:31,160
Speaker 4: Usual story.

554
00:25:31,400 --> 00:25:33,679
Speaker 3: Yeah, yeah, but that's Burmese for you. They're just a

555
00:25:33,680 --> 00:25:35,800
Speaker 3: bit how you're going, and that's why you can't let

556
00:25:35,800 --> 00:25:37,280
Speaker 3: them out I know you're not meant to let cats

557
00:25:37,280 --> 00:25:40,040
Speaker 3: out in general, but mine absolutely couldn't go out because

558
00:25:40,040 --> 00:25:41,960
Speaker 3: they would lay on the road when it was warm.

559
00:25:42,440 --> 00:25:45,000
Speaker 3: So just one out of ten for cat ownership. But

560
00:25:45,040 --> 00:25:48,119
Speaker 3: I fully understand spending too much on them because I'm like, no,

561
00:25:48,160 --> 00:25:51,040
Speaker 3: they're my babies. They deserve it exactly, and you do.

562
00:25:51,080 --> 00:25:53,359
Speaker 3: What I actually think is so funny about pet ownership

563
00:25:53,600 --> 00:25:56,200
Speaker 3: is that before I had kids, and when I announced

564
00:25:56,200 --> 00:25:58,280
Speaker 3: it i was pregnant with Harvey, people were like, oh

565
00:25:58,359 --> 00:26:00,399
Speaker 3: my gosh, your cat's are going to take a side line,

566
00:26:00,520 --> 00:26:02,440
Speaker 3: Like you know, they're not going to be as important

567
00:26:02,440 --> 00:26:05,800
Speaker 3: to you. They're just as important. What are you talking about? Like,

568
00:26:05,880 --> 00:26:09,000
Speaker 3: they are still my children. I now just have two cats,

569
00:26:09,000 --> 00:26:12,040
Speaker 3: a dog, and a child, and those are my children exactly.

570
00:26:12,359 --> 00:26:14,600
Speaker 3: So nothing changes. So you think it might get a

571
00:26:14,640 --> 00:26:17,080
Speaker 3: little less spendy if you decide to have kids, it doesn't.

572
00:26:17,119 --> 00:26:20,439
Speaker 3: I'm so sorry to ruin that for you. It's for

573
00:26:20,480 --> 00:26:23,480
Speaker 3: the best money, dost. At the start of this episode,

574
00:26:23,520 --> 00:26:25,720
Speaker 3: I asked you what your money grade was, and you said,

575
00:26:25,760 --> 00:26:28,760
Speaker 3: I'm going to give myself a C plus. Okay, no worries.

576
00:26:28,800 --> 00:26:30,320
Speaker 3: I already told you that I was probably going to

577
00:26:30,359 --> 00:26:32,800
Speaker 3: try and fight you because you're an icon. You've got

578
00:26:32,840 --> 00:26:35,720
Speaker 3: a PhD thesis, You've got a thirty thousand dollar pay rise,

579
00:26:36,200 --> 00:26:38,960
Speaker 3: you now run your own mortgage. You've paid out this

580
00:26:39,080 --> 00:26:42,080
Speaker 3: douchebag of a partner that you had, you do tutoring

581
00:26:42,119 --> 00:26:44,080
Speaker 3: on the side, you're renting out one of your rooms.

582
00:26:44,080 --> 00:26:47,120
Speaker 3: I feel like you are doing me most. You're also investing,

583
00:26:47,680 --> 00:26:51,960
Speaker 3: like soy for someone with ADHD and discalcula to then

584
00:26:52,000 --> 00:26:54,240
Speaker 3: be like, Okay, I'm going to get into investing and

585
00:26:54,240 --> 00:26:56,080
Speaker 3: get into ETFs. That could have been a world that

586
00:26:56,200 --> 00:26:58,719
Speaker 3: was way too overwhelming and something You're like, you know what,

587
00:26:58,760 --> 00:27:01,240
Speaker 3: that's just not for me. I'm going to focus really

588
00:27:01,240 --> 00:27:04,719
Speaker 3: hard on just this mortgage stuff and like, you know, budget, Sorry,

589
00:27:04,840 --> 00:27:08,480
Speaker 3: you're running rings around so many people and doing a

590
00:27:08,520 --> 00:27:11,880
Speaker 3: really good job of it. What would an A look

591
00:27:12,160 --> 00:27:15,520
Speaker 3: like in your mind? If you think you're in.

592
00:27:15,240 --> 00:27:18,080
Speaker 4: A C plus, Yeah, I think it's because I'm still

593
00:27:18,160 --> 00:27:20,879
Speaker 4: quite at the beginning of that mortgage journey, like I

594
00:27:21,000 --> 00:27:23,399
Speaker 4: don't feel one hundred percent set on it. And then

595
00:27:23,440 --> 00:27:26,520
Speaker 4: I also don't have an emergency fund, so if something

596
00:27:26,560 --> 00:27:29,119
Speaker 4: were to happen to the apartment or something happened to

597
00:27:29,200 --> 00:27:31,160
Speaker 4: my cats, then I would have to go into debt

598
00:27:31,160 --> 00:27:34,200
Speaker 4: for it at this point, so I don't feel confident

599
00:27:34,480 --> 00:27:37,280
Speaker 4: to be able to just bounce back from anything easily

600
00:27:37,400 --> 00:27:40,080
Speaker 4: right now. So I think in order to increase my greed,

601
00:27:40,200 --> 00:27:42,600
Speaker 4: i'd need to be comfortable and feel safe.

602
00:27:42,800 --> 00:27:45,119
Speaker 3: Okay, I'm not going to argue that. I feel like

603
00:27:45,200 --> 00:27:48,680
Speaker 3: that's a really good justification. And you know what, once

604
00:27:48,720 --> 00:27:51,640
Speaker 3: you start on your financial literacy journey and you start

605
00:27:51,640 --> 00:27:53,399
Speaker 3: to get a really good handle of what's going on

606
00:27:53,480 --> 00:27:56,520
Speaker 3: and how it's working, you do start to feel very

607
00:27:56,640 --> 00:27:59,600
Speaker 3: naked without an emergency fund. You go hold on, hold on,

608
00:27:59,640 --> 00:28:01,240
Speaker 3: hold on. I'm in a bit of like I'm in

609
00:28:01,240 --> 00:28:03,959
Speaker 3: a risky position here. I don't really like that. So

610
00:28:04,160 --> 00:28:06,520
Speaker 3: I can resonate with that. I would argue that your

611
00:28:06,560 --> 00:28:10,200
Speaker 3: money habits though closer to an a. Maybe you don't

612
00:28:10,280 --> 00:28:13,000
Speaker 3: feel that way because we feel a little bit naked.

613
00:28:13,280 --> 00:28:14,880
Speaker 4: But I think you're doing.

614
00:28:14,720 --> 00:28:17,159
Speaker 3: Pretty bloody well. And I'm very very proud of you,

615
00:28:17,200 --> 00:28:19,560
Speaker 3: and I'm just so excited that I got to hang

616
00:28:19,600 --> 00:28:21,399
Speaker 3: out with you, got to meet you, got to have

617
00:28:21,440 --> 00:28:23,560
Speaker 3: a chat, and got to share your journey with the community.

618
00:28:23,680 --> 00:28:25,720
Speaker 3: So thank you so much for joining us, and I

619
00:28:25,760 --> 00:28:26,840
Speaker 3: wish we had more time.

620
00:28:26,960 --> 00:28:28,720
Speaker 4: Thank you so much for having me. It's been an honor.

621
00:28:28,840 --> 00:28:31,120
Speaker 3: Oh don't be silly, right back at you, my love.

622
00:28:37,400 --> 00:28:39,920
Speaker 5: The advice shared on She's on the Money is general

623
00:28:39,960 --> 00:28:43,240
Speaker 5: in nature and does not consider your individual circumstances.

624
00:28:43,560 --> 00:28:45,680
Speaker 3: She's on the Money exists purely for.

625
00:28:45,720 --> 00:28:48,600
Speaker 5: Educational purposes and should not be relied upon to make

626
00:28:48,640 --> 00:28:51,920
Speaker 5: an investment or financial decision. If you do choose to

627
00:28:51,920 --> 00:28:55,200
Speaker 5: buy a financial product, read the PDS TMD and obtain

628
00:28:55,240 --> 00:28:57,040
Speaker 5: appropriate financial advice.

629
00:28:56,760 --> 00:28:58,120
Speaker 3: Tailored towards your needs.

630
00:28:58,480 --> 00:29:01,480
Speaker 5: Victoria Divine and she Is on the Money are authorized

631
00:29:01,520 --> 00:29:04,520
Speaker 5: representatives of money sherper P T y L t D

632
00:29:04,760 --> 00:29:07,560
Speaker 5: A b N three two one six four nine two

633
00:29:07,600 --> 00:29:10,560
Speaker 5: seven seven zero eight a F s L four five

634
00:29:10,640 --> 00:29:14,640
Speaker 5: one two eight nine