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

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Speaker 1: woman and I'm here to acknowledge country t glennyan Ganya, Niana,

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Speaker 1: Kaka yah Ya bin Ahaka Nian our gay In Nimbini,

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Speaker 1: yakarum jar Dominyama, Domagahawakawaman, damon imlan Bumba bang Gadabomba in

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Speaker 1: and now in wakah ghana on yak rum jar Watnadaa. Hello,

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Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.

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Speaker 1: We thank acknowledge and respect the Aberiginal people's land that

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Speaker 1: we're gathering on today. Take pleasure in all the land

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Speaker 1: and respect all that you see. She's on the Money

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Speaker 1: podcast acknowledges culture, country, community and connections, bringing you the tools,

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Speaker 1: knowledge and resources for you to thrive.

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

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Speaker 2: and she's on the Money.

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Speaker 3: The podcast that proves being financially savvy doesn't mean you've

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Speaker 3: always been financially flawless. I'm beck sired and with me

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Speaker 3: is the woman who might actually kill me when she

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Speaker 3: realizes what we're doing today, Victoria, are we doing today?

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Speaker 2: We're going for a run. I'm just kidding. How would

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Speaker 2: you feel like? I was like, let's just get up

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Speaker 2: and run. Do you know I used to run and

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Speaker 2: it's not for me. No, I understand. It's like you're

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Speaker 2: gotta keep yourself entertained for a long time. Wasn't even that.

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Speaker 2: It just ruined my body. It was so like my

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Speaker 2: knees always hurt. I ended up with like stress fractures

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Speaker 2: in my shins. I was just not made. My body's

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Speaker 2: not made for Annie. He's not a runner. I wish

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Speaker 2: I could say, Beck, I have a pilates body, but

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Speaker 2: like I have a body that's meant to do pilates,

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Speaker 2: and I don't I look like I have a pilates body.

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Speaker 2: I wish it was the ladder.

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Speaker 1: You know.

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Speaker 3: Well, I think you're plenty pilates, thank you, But no,

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Speaker 3: we are doing something a little bit different. That's almost

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Speaker 3: as bad as running. You are back in the hot

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Speaker 3: seat by very popular demand. Hey, well, everyone loves it.

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Speaker 2: You love it. I love it because you're all sadistic.

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Speaker 2: That's why.

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Speaker 3: So last time we got the juicy details of your

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Speaker 3: money's story, you did, yes, But today we're digging into

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Speaker 3: the actual strategy, the good stuff.

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Speaker 2: Not that do I have strategy? I think your mind

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Speaker 2: strategy is fly by the siege of my pants. Hey

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Speaker 2: that might work.

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Speaker 3: Actually, so far, so good. Yeah, that's fantastic. So we

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Speaker 3: all need to know how did Victoria Devine get herself

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Speaker 3: out of debt?

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Speaker 2: Oh that's a good question. Actually that's a very and

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Speaker 2: you know what, it's really hard, like it was really hard. Yeah, Well,

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Speaker 2: I mean just answering that question straight out or have

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Speaker 2: you got a list of questions?

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Speaker 3: Unfortunately, do have a longest questions. I can see some

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Speaker 3: hope in your eye, like that's the only question. Are

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Speaker 3: you ready as ready as I'll ever be?

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Speaker 2: Great?

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Speaker 3: Okay, we talked about this in Great Tetail last time,

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Speaker 3: but just in case anyone needs a refresh to kick

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Speaker 3: things off, can you paint a quick picture of what

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Speaker 3: life looked like when you realize your debt had to

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Speaker 3: be dealt with and what were your very first steps?

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Speaker 2: Yeah, so let me go back a little bit further

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Speaker 2: and tell you how I got into debt really quickly, quickly,

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Speaker 2: And then also I guess why I got into debt

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Speaker 2: because I think that people are always like, well why

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Speaker 2: like and people who haven't been in debt are often

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Speaker 2: very much like, well, why did you do that? That's

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Speaker 2: so silly, And at the time you just don't know

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Speaker 2: what you don't know. No, So I was working in consulting.

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Speaker 2: I had finished two degrees, so I'd done my undergrad

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Speaker 2: in psychological science and then I had just finished my

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Speaker 2: postgrad in organizational psychology, and I had what I thought

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Speaker 2: was my big dog, like my big dog consulting job.

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Speaker 2: And I remember my contract. I think it was like

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Speaker 2: for fifty five thousand dollars plus super and at the

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Speaker 2: time that was the most amount of money that I'd

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Speaker 2: ever earned. Like prior to that, I was just working

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Speaker 2: part time and I was like, I would say I

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Speaker 2: was pretty good, Like my work ethic has always been.

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Speaker 2: I would say fantastic, Like I'm the type of person

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Speaker 2: that's like not like if I've got some spare time,

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Speaker 2: I would just do it. So I was working like

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Speaker 2: retail jobs, I was working hospitality jobs. There was a

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Speaker 2: time where I was like a swim teacher. In between

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Speaker 2: that I was like doing some tutoring of some other

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Speaker 2: people at UNI, Like there was just like lots of

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Speaker 2: bits and bobs floating around. But even though I had

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Speaker 2: all of those jobs, I think people who go to

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Speaker 2: UNI can probably resonate with that. You feel like you

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Speaker 2: work like a dog day and day out, like you

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Speaker 2: go to UNI and then like straight after UNI, I

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Speaker 2: would like go to my like hospitality job that night

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Speaker 2: and work until midnight or one am, and then you

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Speaker 2: look at your tax return and I'd be like, oh,

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Speaker 2: I've worked my butt off, and then like, I remember

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Speaker 2: one year. I think it was like the year before

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Speaker 2: I got this big dog job, my like taxable income

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Speaker 2: was like thirty two thousand dollars, yes, yes, And like

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Speaker 2: in my head, I was like, but all I did

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Speaker 2: was work, I like, and I mean that's minimum wage

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Speaker 2: for you, right, Like that's exactly how it works. Anyway.

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Speaker 2: So I get this big dog job and I start

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Speaker 2: to feel like I really want to fit in, and

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Speaker 2: like this is just upon reflection at the time, you're

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Speaker 2: not thinking, oh I really want to fit in, Like

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Speaker 2: that's just not it. And I remember I got this

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Speaker 2: Virgin Money credit card, and to me, that's kind of

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Speaker 2: I don't know why I'm telling you it's Virgin money.

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Speaker 2: I think I'm telling you it's a Virgin Money credit

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Speaker 2: card because it didn't feel as real as like a

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Speaker 2: NAB or a combank or a Westpac credit card because.

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Speaker 3: It wasn't a real bank, do you know what I mean,

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Speaker 3: but also kind of like gives some validity to it.

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Speaker 3: It's like if you had a bloody I don't know,

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Speaker 3: what's that one that's like a latitude.

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Speaker 2: Yeah, like a latitude. It was like, yeah, virgin money.

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Speaker 2: It was a proper credit card. Yeah, And I remember

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Speaker 2: the interest rate on it was probably like twenty two

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Speaker 2: percent because I was just like, well, I'll never pay

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Speaker 2: that obviously, like yeah, so that doesn't matter, and it

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Speaker 2: had I think, just this is just me reflecting. I

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Speaker 2: could be completely wrong, but I think I had like

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Speaker 2: a forty five day interest free period. In how most

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Speaker 2: credit cards have a month. This was like a little

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Speaker 2: bit longer. And I'm like, well, that's helpful. And I

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Speaker 2: remember the first credit card I got was like five

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Speaker 2: hundred dollars, and that felt like a lot of money

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Speaker 2: at the time, because like, I don't think I often

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Speaker 2: had five hundred dollars in my savings account, like you know,

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Speaker 2: it comes, it goes. I would pay rent and then

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Speaker 2: it had drop back down. So I got this five

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Speaker 2: hundred dollar credit card, and very quickly they sent me

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Speaker 2: an email or like a letter. After that, I can't

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Speaker 2: remember how, but I remember it going up to one thousand,

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Speaker 2: and I remember thinking four figures like that, like it

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Speaker 2: starts slow and it starts small, right, and I'd maxed

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Speaker 2: that out just buying things to fit in. I suppose

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Speaker 2: like I'd bought a new suit from Saba and I

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Speaker 2: had bought like a couple of pieces from Scanlan Theodore

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Speaker 2: and then bam, like the credit card was maxed out.

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Speaker 2: Like we're not talking, oh V, like you were using

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Speaker 2: it for costs like the living costs or anything like that.

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Speaker 2: It was literally like clothes that I otherwise couldn't afford.

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Speaker 2: In in my head, I was like, if I put

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Speaker 2: it on the credit card, I can just pay it

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Speaker 2: off and then I get nicer pieces, like in my head,

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Speaker 2: I was their investment pieces for work, like this will

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Speaker 2: be good. And yet things started to like snowball from there.

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Speaker 2: The debt didn't feel too bad. I was paying the

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Speaker 2: minimum repayments. It was probably like fifty two dollars. I

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Speaker 2: feel like in my head it was like fifty two

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Speaker 2: dollars a month, and I was like, that's fine. I

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Speaker 2: hadn't done the maths on what that actually meant for

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Speaker 2: me over the long term. Spoiler. I was basically never

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Speaker 2: going to pay that credit card off. That's all I

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Speaker 2: was paying, right of course, And so it starts snowballing.

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Speaker 2: And then I'm in this big dog job. And I

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Speaker 2: say big dog job because at the time I felt

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Speaker 2: very cool. And I think March the next year rolls

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Speaker 2: around and I must have been before that. Actually I

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Speaker 2: find out that I got into a Master's of Business Administration.

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Speaker 2: So I get into my MBA like this is so cool,

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Speaker 2: Like this is the coolest thing ever. And like I

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Speaker 2: start doing that and I'm studying and I'm working at

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Speaker 2: the same time, and it's so hard. And at this

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Speaker 2: time I didn't have any other debt. I'm just like

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Speaker 2: paying off this credit card and I reckon. It would

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Speaker 2: have been about mid year, like I got offered to

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Speaker 2: travel to a place called Glennorb in the south of

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Speaker 2: France to study. I was able to go and do

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Speaker 2: two units. Ye kind of not in exchange, but like

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Speaker 2: a I don't know, you go overseason, you study for

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Speaker 2: a little bit. And it was over that Christmas period,

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Speaker 2: like it was like a Christmas like semester where it

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Speaker 2: was going to be two full time units. I was

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Speaker 2: over there for about three months, and I knew that

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Speaker 2: I could take that period of time off work, like

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Speaker 2: I would negotiate whatever I couldn't afford to do that

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Speaker 2: beck like my university did, I think subsidize the education component,

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Speaker 2: Like I could put the actual course fees on my

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Speaker 2: hex because it was like an exchange thing with r

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Speaker 2: MIT and the university over there. And that was fine.

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Speaker 2: But I still had flights, I still had accommodation. And

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Speaker 2: then I remember my car blew up and I used

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Speaker 2: to drive this old Toyota Avalon and whenever I turned right,

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Speaker 2: because it had been converted to LPG for some reason,

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Speaker 2: something in the car would cut the LPG and the

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Speaker 2: car would literally stop if you turned right to her.

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Speaker 2: Oh I see, yeah, it was really cool. And so

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Speaker 2: you'd be like getting onto the freeway or something and

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Speaker 2: your car would cut out, and I remember just being

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Speaker 2: like this is so unsafe, and like I'd taken it

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Speaker 2: to a heap of people and they're like, oh, you'll

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Speaker 2: have to replace the whole LPG thing, and I'm like, no,

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Speaker 2: absolutely not, like that's so expensive. So I kept putting

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Speaker 2: up with this car and my Dad I remember, was

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Speaker 2: like Victoria, like you need to get something safer, like

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Speaker 2: we have to get something safer, and so I was like,

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Speaker 2: oh okay, like I can't really, Like I had no savings,

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Speaker 2: I had no income that would support a new car

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Speaker 2: and an overseas trip, and I thought, why don't I

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Speaker 2: just get a loan, like I can just get a

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Speaker 2: personal loan, Like I was already looking like I think

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Speaker 2: that the car thing was there thing that started my

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Speaker 2: thought patent on the loan situation, because I was like,

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Speaker 2: I'll get a car loan and I'll get a better car.

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Speaker 2: And I bought a secondhand car. I bought a little

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Speaker 2: two door Mercedes. She was very cute. Beck I haven't

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Speaker 2: been able to get rid of her yet, I still

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Speaker 2: have her.

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Speaker 1: Oh cute.

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Speaker 2: I mean, I do have another car because I have

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Speaker 2: to be an adult and drive my child around in

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Speaker 2: a car that is relatively safe. But my little two

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Speaker 2: doors still lives down at my parents' house, and I

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Speaker 2: just I probably need to sell it, but like I

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Speaker 2: just have an emotional connection to her. Anyway, I decide

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Speaker 2: that I'm going to get a car loan, and then

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Speaker 2: what's wrong with just putting a little bit more onto

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Speaker 2: that car loan, making it a personal loan so that

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Speaker 2: I can go do this thing in France. Yeah, yeah,

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Speaker 2: And I remember the car was I think fourteen thousand

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Speaker 2: dollars and then to study and you know, organize flights

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Speaker 2: accommodation three months in Europe, and obviously I wanted to

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Speaker 2: have a good time too, Like I ended up going

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Speaker 2: to the snow over there, like dude, I was like

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Speaker 2: skiing in living shops, like I spent some time in Paris,

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Speaker 2: I spent some time with friends in London, like very cool.

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Speaker 2: All of that meant that I got a forty thousand

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Speaker 2: dollar personal line. Sure. Sure, And at the time that

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Speaker 2: didn't feel scary. That actually felt like I remember signing

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Speaker 2: the contract and being like this is so freeing. I'm

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Speaker 2: getting exactly what I want. Yeah, And like in my head,

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Speaker 2: forty thousand dollars that wasn't my annual income, so it's

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Speaker 2: not that bad, right, right.

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Speaker 3: And I guess like you're kind of thinking, oh, I'll

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Speaker 3: never like I will get there eventually, but if you're

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Speaker 3: giving it to me all right now, and then I

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Speaker 3: can just like kind of.

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Speaker 2: I can pay it off, pay it off. How hard

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Speaker 2: would that be? Yeah? I totally understand how that would

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Speaker 2: have that's not and that hard. No, And like I

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Speaker 2: remember then and like, this is actually really funny because

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Speaker 2: I have since I since joined a class action and

243
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Speaker 2: I actually got all of the money that I paid

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Speaker 2: on that loan, that loan's insurance back, really because ages

245
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Speaker 2: going NAB. Like I remember my loan with NAB and

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Speaker 2: I went down to the bank and it was so easy,

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Speaker 2: Like we're talking twenty eleven, twenty twelve. Maybe I got

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Speaker 2: this loan and I just remember walking in and then

249
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Speaker 2: being like, oh, have you got payslops And I was

250
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Speaker 2: like yeah, and like I had them on my phone

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Speaker 2: and I emailed them to them and then they're like, oh,

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Speaker 2: sign all of these things. Yeah, we'll call you tomorrow.

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Speaker 2: And then the next day I had a personal loan.

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Speaker 2: That's crazy. It's so easy. And I was like, oh, maybe,

255
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Speaker 2: like I remember thinking of the time, maybe I should

256
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Speaker 2: have gotten more. I know, I know, like maybe I

257
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Speaker 2: should have gotten more because like that freedom felt good

258
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Speaker 2: and like that's not freedom, that's delusion. Just to be

259
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Speaker 2: very clear, anyway, got this loan and lived my best life,

260
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Speaker 2: went overseas. When you get a personal loan, it's not

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Speaker 2: like a line of credit. They actually put all of

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Speaker 2: that cash into my bank account. So I paid for

263
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Speaker 2: that car and then I had, well, I would say,

264
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Speaker 2: a very healthy fund to go overseas with. Yeah, And

265
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Speaker 2: I made a lot of financial decisions while I was

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Speaker 2: overseas that were definitely aligned to not my income, because

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Speaker 2: I'd be like, well, I've got heaps of money in

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Speaker 2: my account, why don't we go to Heston Blumenthal's like restaurant,

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Speaker 2: Why don't we go to these expensive places? Or why

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Speaker 2: don't I buy And I remember, you guys have probably

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Speaker 2: seen it online because like I do wear a lot

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Speaker 2: of clothes that I have had for years and years

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Speaker 2: and years, and there's these beautiful I think it's beautiful

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Speaker 2: Ted Baker dress that I have right, and it's just

275
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Speaker 2: like it's red, and it's a meaty dress and it's

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Speaker 2: quite high cart and it's got this beautiful orchid pattern

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Speaker 2: on it. I love it. I bought that in London

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Speaker 2: for an exorbitant amount of money at the time, but

279
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Speaker 2: I was like, have heaps of cash in my account,

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Speaker 2: so like does it matter?

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Speaker 3: Yeah, it didn't matter, No, And even just the whole

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Speaker 3: experience and stuff like that, it's like, you know, I

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Speaker 3: don't encourage anyone to get into dead.

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Speaker 2: No, this is terrible. I'm just I feel like I

285
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Speaker 2: need to talk about how I got there, because so

286
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Speaker 2: many people would be like, oh, how did you get

287
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Speaker 2: out of it? And getting out of debt is very hard,

288
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Speaker 2: but I think also coming to terms with the idea

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Speaker 2: that I remember all of that. Right, I come home

290
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Speaker 2: and I had a little bit of savings, so even

291
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Speaker 2: when I got home, the pain wasn't like the pain

292
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Speaker 2: of being in debt wasn't there because I could still

293
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Speaker 2: make the monthly repayments really easily, and they were eight

294
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Speaker 2: hundred and fifty three I think dollars per month, and

295
00:14:11,760 --> 00:14:13,679
Speaker 2: that was easy because like there was still that cash

296
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Speaker 2: in my account from the actual loan. So I was like, not,

297
00:14:16,640 --> 00:14:20,480
Speaker 2: there was no pain right totally. That dried up really quickly. Yeah,

298
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Speaker 2: and then all of a sudden, you're back home. All

299
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Speaker 2: you've got in your pocket or experiences, and I had

300
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Speaker 2: a really nice dress. I had started to live paycheck

301
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Speaker 2: to paycheck again. And when you're on a fifty five

302
00:14:34,880 --> 00:14:37,840
Speaker 2: thousand dollars salary, eight hundred and fifty three dollars a

303
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Speaker 2: month means you don't have any extra money. That's like,

304
00:14:41,000 --> 00:14:44,080
Speaker 2: like I remember my rent was about the same, and

305
00:14:44,240 --> 00:14:46,960
Speaker 2: like I had good rent because I took the smallest

306
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Speaker 2: bedroom in this sharehouse. I lived with my best friend

307
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Speaker 2: and her brother, and I had the tiniest little bedroom

308
00:14:52,840 --> 00:14:58,160
Speaker 2: back and I had eight hundred and fifty three dollars

309
00:14:58,680 --> 00:15:01,040
Speaker 2: I think of debt repayment, and my rent was like

310
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Speaker 2: eight fifty yep, And that's wild between that food, like

311
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Speaker 2: there was not much to spare, no, Like there was

312
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Speaker 2: just nothing, and like by the time you pay for

313
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Speaker 2: petrol and your train tickets every day and you know,

314
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Speaker 2: the odd coffee at work, Like I just didn't have

315
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Speaker 2: any extra and I just remember how suffocating that felt. Yeah,

316
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Speaker 2: Like I started to go, oh my goodness, like what

317
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Speaker 2: am I going to do about this debt thing? But

318
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Speaker 2: I bury my head in the sand. Yeah, I didn't

319
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Speaker 2: tell anybody i'd taken that loan out because like I

320
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Speaker 2: kind of like, at the same time as not caring

321
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Speaker 2: about it, I also knew that there was some level

322
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Speaker 2: of shame involved in it. Yeah, like anyone around upon

323
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Speaker 2: you don't really know why. Yeah, Like I didn't want

324
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Speaker 2: to tell people I had it, and at that point

325
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Speaker 2: my financial literacy was not very good. Like, keep in mind,

326
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Speaker 2: I wasn't working in finance. She's on the money didn't

327
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Speaker 2: exist at this point, and yeah, like I just buried

328
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Speaker 2: my head in the sand for a very long time

329
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Speaker 2: about it paid the minimum repayments. So I remember looking

330
00:16:00,640 --> 00:16:03,240
Speaker 2: into getting it refinanced, so because I was like, if I,

331
00:16:03,840 --> 00:16:06,240
Speaker 2: you know, lower the monthly repayments, maybe life will be

332
00:16:06,280 --> 00:16:08,520
Speaker 2: a bit more comfortable. But I actually couldn't get it

333
00:16:08,560 --> 00:16:12,840
Speaker 2: refinanced because like, no one would refinance a personal debt.

334
00:16:12,960 --> 00:16:15,080
Speaker 2: Why would you refinance a personal debt. Ye, it's not

335
00:16:15,200 --> 00:16:17,240
Speaker 2: like I had. Oh and I still had that credit

336
00:16:17,280 --> 00:16:18,520
Speaker 2: card that was outstanding.

337
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Speaker 1: Yeah.

338
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Speaker 2: At that point, I remember going, oh, wait, hold on,

339
00:16:24,520 --> 00:16:26,760
Speaker 2: And I think because I'd had a taste of, quote

340
00:16:26,760 --> 00:16:30,480
Speaker 2: the good life. Yeah, I'd had cash to dispose of,

341
00:16:30,760 --> 00:16:32,920
Speaker 2: like i'd you know, done this stuff in London. I'd

342
00:16:32,960 --> 00:16:35,000
Speaker 2: been to Paris and I had all of this cash,

343
00:16:35,080 --> 00:16:37,200
Speaker 2: and you know, when I got home, it wasn't that bad.

344
00:16:37,240 --> 00:16:39,280
Speaker 2: I was going out for brunches with my friends. I

345
00:16:39,440 --> 00:16:42,080
Speaker 2: was shouting them like it was fine. But all of

346
00:16:42,160 --> 00:16:44,200
Speaker 2: that was on the debt, Like that was the personal

347
00:16:44,320 --> 00:16:46,480
Speaker 2: loan money. Yeah, and then all of a sudden, it

348
00:16:46,560 --> 00:16:52,120
Speaker 2: just got really tight. Yeah, and then that feels suffocating,

349
00:16:52,280 --> 00:16:57,840
Speaker 2: That feels really hard, and I just I I didn't

350
00:16:57,920 --> 00:17:02,000
Speaker 2: tell anyone. My parents didn't know my like literally my

351
00:17:02,080 --> 00:17:04,719
Speaker 2: family and friends didn't know, and they'd be like, oh

352
00:17:04,800 --> 00:17:06,800
Speaker 2: we should. I remember like at the time, it was

353
00:17:06,880 --> 00:17:08,600
Speaker 2: like the cool thing to do, and probably still is

354
00:17:08,640 --> 00:17:12,080
Speaker 2: a cool thing to do, right. Bali trips for New Years. Yeah,

355
00:17:12,200 --> 00:17:14,280
Speaker 2: Like my girlfriends were like, let's go to Bali for

356
00:17:14,400 --> 00:17:16,159
Speaker 2: New Years. I don't remember thinking like I would love to,

357
00:17:16,280 --> 00:17:19,720
Speaker 2: but I can't afford that, Like I don't have any cash,

358
00:17:19,840 --> 00:17:21,760
Speaker 2: Like I couldn't afford and at the time, like return

359
00:17:21,880 --> 00:17:25,120
Speaker 2: flights to Bali were like eight hundred bucks. Oh my god.

360
00:17:25,200 --> 00:17:28,840
Speaker 2: I remember thinking like, that's my debt repayment. Yes I do,

361
00:17:29,440 --> 00:17:31,359
Speaker 2: like I quote have the money, but it has to

362
00:17:31,400 --> 00:17:34,160
Speaker 2: be allocated to something else, like because that was direct

363
00:17:34,200 --> 00:17:35,920
Speaker 2: debited out of my account. So it didn't feel like

364
00:17:35,960 --> 00:17:39,600
Speaker 2: I even had a choice, you know. So I just

365
00:17:39,960 --> 00:17:42,679
Speaker 2: felt like I wasn't going to get anywhere. And then

366
00:17:42,720 --> 00:17:44,520
Speaker 2: I started to go, well, maybe this is my life.

367
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Speaker 2: And I kept looking around at the people at work

368
00:17:46,520 --> 00:17:48,399
Speaker 2: and being like wow, were they doing it? Like are

369
00:17:48,440 --> 00:17:50,320
Speaker 2: they just earning more. Do I need a pay rise?

370
00:17:50,480 --> 00:17:55,480
Speaker 2: Like's what's going on? I know. And I mean I

371
00:17:55,640 --> 00:17:57,920
Speaker 2: still had that idea that I wanted to go out

372
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Speaker 2: for brunch and I wanted to steal. And it's not

373
00:18:00,920 --> 00:18:02,800
Speaker 2: the coffee. The coffee's not going to ever get you

374
00:18:02,880 --> 00:18:04,440
Speaker 2: out of debt. But like I wanted to have that

375
00:18:04,560 --> 00:18:07,680
Speaker 2: lifestyle of where I was still out and about but

376
00:18:07,800 --> 00:18:10,359
Speaker 2: like them to live life. Yeah, because the reality of

377
00:18:10,400 --> 00:18:13,800
Speaker 2: getting out of debt is hard. You do have to restrict,

378
00:18:13,840 --> 00:18:16,080
Speaker 2: you do have to pull back. I just wasn't ready

379
00:18:16,119 --> 00:18:16,440
Speaker 2: to do that.

380
00:18:16,760 --> 00:18:22,240
Speaker 3: No, Okay, so I'm picturing little you. You're paying so

381
00:18:22,440 --> 00:18:25,880
Speaker 3: much money every month. What were like the first things

382
00:18:25,960 --> 00:18:27,720
Speaker 3: you did to get yourself.

383
00:18:27,359 --> 00:18:29,399
Speaker 2: Out of it? Continue to bury my head in the

384
00:18:29,480 --> 00:18:33,480
Speaker 2: sand if I set and I did that literally for years.

385
00:18:34,040 --> 00:18:35,800
Speaker 2: Like we're not saying, oh, I buried my head in

386
00:18:35,880 --> 00:18:37,879
Speaker 2: the sand for a few months and then I just

387
00:18:38,000 --> 00:18:40,560
Speaker 2: got my stuff together and got out of debt. I

388
00:18:40,640 --> 00:18:42,960
Speaker 2: feel like that's a sunshine and rose, this story and

389
00:18:43,560 --> 00:18:45,359
Speaker 2: that comes out of our community all the time. And

390
00:18:45,440 --> 00:18:48,399
Speaker 2: I think that I wish I had the resource that

391
00:18:48,600 --> 00:18:50,320
Speaker 2: was she's on the money at the time to go hey,

392
00:18:50,520 --> 00:18:52,600
Speaker 2: like doesn't mean you're a bad person because I felt

393
00:18:52,640 --> 00:18:55,359
Speaker 2: like a bad person. Yeah, I probably did that for

394
00:18:55,520 --> 00:18:59,480
Speaker 2: three years back, couldn't sleep properly, was really stressed about it. Like,

395
00:19:00,040 --> 00:19:01,879
Speaker 2: you know, I would be able to scrape together a

396
00:19:01,920 --> 00:19:04,240
Speaker 2: few things to do, like trips here and there, like,

397
00:19:04,359 --> 00:19:10,080
Speaker 2: but not anything stupidly extravagant. It wasn't until I started

398
00:19:10,359 --> 00:19:16,480
Speaker 2: to realize that everybody around me was able to live

399
00:19:16,520 --> 00:19:19,560
Speaker 2: their lives and I wasn't. I got to pay rise.

400
00:19:19,880 --> 00:19:21,800
Speaker 2: I remember I went for and get this fifty five

401
00:19:21,840 --> 00:19:24,840
Speaker 2: thousand to sixty thousand dollars and like that feels big,

402
00:19:25,000 --> 00:19:27,320
Speaker 2: Like yeah, and I'm not being condescending when I say that,

403
00:19:27,400 --> 00:19:29,280
Speaker 2: I promise, Like at the time, I was like, oh

404
00:19:29,400 --> 00:19:34,080
Speaker 2: my god, like I'm sixty grand plus SuperH Like to me,

405
00:19:34,240 --> 00:19:37,280
Speaker 2: that was such a big deal. And I remember going, oh,

406
00:19:37,440 --> 00:19:39,960
Speaker 2: I'm gonna have so much more cash to pay back

407
00:19:40,000 --> 00:19:42,280
Speaker 2: this debt, and like that was the point in time

408
00:19:42,320 --> 00:19:44,080
Speaker 2: where I thought, do you know what, I can probably

409
00:19:44,160 --> 00:19:48,560
Speaker 2: do something about this, and you shouldn't wait, And I

410
00:19:48,640 --> 00:19:51,280
Speaker 2: wish I didn't, but I didn't know. Beck, you shouldn't

411
00:19:51,320 --> 00:19:53,879
Speaker 2: have to wait until you have more income to be

412
00:19:53,920 --> 00:19:56,400
Speaker 2: able to pay off a debt or prioritize debt reduction

413
00:19:56,920 --> 00:19:59,359
Speaker 2: because there are so many strategies you can implement. But like,

414
00:19:59,480 --> 00:20:03,080
Speaker 2: I just didn't know what I didn't know. So I

415
00:20:03,200 --> 00:20:05,400
Speaker 2: worked out how much per month I was getting additional

416
00:20:05,480 --> 00:20:08,280
Speaker 2: and I started paying that off my debt and acted

417
00:20:08,359 --> 00:20:10,200
Speaker 2: like I was still on the same salary. So that

418
00:20:10,359 --> 00:20:13,280
Speaker 2: was working really well. And then you know, my income

419
00:20:13,359 --> 00:20:16,119
Speaker 2: started to increase, and I started to get excited watching

420
00:20:16,160 --> 00:20:18,280
Speaker 2: the numbers come down, because when you start to pay

421
00:20:18,440 --> 00:20:22,159
Speaker 2: a little bit more than the bare minimum, you actually

422
00:20:22,320 --> 00:20:24,840
Speaker 2: do start to see movement, even if it's like fifty

423
00:20:24,880 --> 00:20:27,439
Speaker 2: dollars a month, you do actually start to see movement.

424
00:20:27,520 --> 00:20:30,239
Speaker 2: And that, to me was really motivating. I was like, oh,

425
00:20:30,320 --> 00:20:32,800
Speaker 2: hold on, Like instead of the monthly repayment and then

426
00:20:32,800 --> 00:20:34,800
Speaker 2: you get like this. I remember getting the letters in

427
00:20:34,840 --> 00:20:36,399
Speaker 2: the mail and like it would be this graph of

428
00:20:36,480 --> 00:20:38,160
Speaker 2: how long it would take me to get out of debt,

429
00:20:38,160 --> 00:20:39,959
Speaker 2: and a like a never changed. I was like, oh,

430
00:20:40,000 --> 00:20:42,119
Speaker 2: hold on, like it's starting to change, Like this is

431
00:20:42,160 --> 00:20:45,480
Speaker 2: really Excitingly amount of years have like started to come down.

432
00:20:45,800 --> 00:20:48,040
Speaker 2: It's like, oh, okay, hold on, Like what if I

433
00:20:48,760 --> 00:20:50,200
Speaker 2: you know, what if I got a job at a

434
00:20:50,280 --> 00:20:55,000
Speaker 2: cafe or something, and I'm like theorizing other ideas. Anyway,

435
00:20:55,040 --> 00:20:57,480
Speaker 2: at the same time, I was like, I can't do

436
00:20:57,640 --> 00:20:59,720
Speaker 2: this on my own, and I decided to see financial

437
00:20:59,720 --> 00:21:01,240
Speaker 2: advice because in my head, I was like, if I

438
00:21:01,280 --> 00:21:04,040
Speaker 2: go see a financial advisor, like they'll tell me what

439
00:21:04,240 --> 00:21:06,880
Speaker 2: to do. What's decision of my life. I think I've

440
00:21:06,880 --> 00:21:09,640
Speaker 2: told you before. This guy was so condescending, so rude,

441
00:21:09,800 --> 00:21:14,240
Speaker 2: Like he got out this like whiteboard and started talking

442
00:21:14,359 --> 00:21:16,159
Speaker 2: me through, like, oh, what are your debts? What's this?

443
00:21:16,320 --> 00:21:17,879
Speaker 2: And I told you about my credit card that I

444
00:21:17,960 --> 00:21:20,320
Speaker 2: still hadn't paid off, and I told him about my

445
00:21:20,640 --> 00:21:23,520
Speaker 2: personal loan and he was like, oh, yeah, like you're

446
00:21:23,560 --> 00:21:25,920
Speaker 2: never going to be able to like really invest and

447
00:21:26,040 --> 00:21:28,399
Speaker 2: like at the same time, and this is silly again,

448
00:21:28,880 --> 00:21:31,960
Speaker 2: I had savings set to the side, so over this time,

449
00:21:32,480 --> 00:21:36,159
Speaker 2: I instead of adding absolutely everything to my debt, like

450
00:21:36,480 --> 00:21:38,200
Speaker 2: I got this pay rise and I added that to

451
00:21:38,320 --> 00:21:40,080
Speaker 2: my debt, but like on the side, I was like

452
00:21:40,160 --> 00:21:42,480
Speaker 2: putting fifty dollars here in there into savings. And I

453
00:21:42,520 --> 00:21:44,440
Speaker 2: remember thinking, oh, I've got some money and I could

454
00:21:44,600 --> 00:21:47,080
Speaker 2: like make some investing decisions with this, and he was

455
00:21:47,119 --> 00:21:50,480
Speaker 2: literally like, girl, you can't afford to invest if you've

456
00:21:50,520 --> 00:21:54,000
Speaker 2: got this debt. And I remember being really disheartened by that. Yeah,

457
00:21:54,000 --> 00:21:55,640
Speaker 2: so I was like, what do you mean I've got

458
00:21:55,720 --> 00:22:00,360
Speaker 2: all these savings, What do you mean I can't invest? Yes,

459
00:22:00,480 --> 00:22:02,480
Speaker 2: I can. I want to get rich, I want to

460
00:22:02,520 --> 00:22:05,360
Speaker 2: get wealthy. I've started doing my research. I've started looking

461
00:22:05,400 --> 00:22:10,440
Speaker 2: at YouTube videos on superannuation, like I get this, and girl,

462
00:22:10,520 --> 00:22:13,280
Speaker 2: I'm so sorry. If you have debt and you also

463
00:22:13,400 --> 00:22:17,000
Speaker 2: have savings, you actually don't have savings. Yes, you're just

464
00:22:17,160 --> 00:22:20,760
Speaker 2: putting off your debt. But like I again didn't know

465
00:22:20,840 --> 00:22:23,800
Speaker 2: what I didn't know, and like, I guess that's what

466
00:22:23,960 --> 00:22:27,320
Speaker 2: kick started me onto this pathway of understanding finance and

467
00:22:27,400 --> 00:22:30,200
Speaker 2: then working out how cool that was. And you know,

468
00:22:30,320 --> 00:22:33,520
Speaker 2: I started watching YouTube videos and that was basically the

469
00:22:33,680 --> 00:22:36,280
Speaker 2: only financial literacy at that time that was available. They

470
00:22:36,280 --> 00:22:40,200
Speaker 2: weren't finance podcasts to listen to. There weren't Instagram accounts

471
00:22:40,200 --> 00:22:42,359
Speaker 2: of people like you know, getting out of debt that

472
00:22:42,440 --> 00:22:44,600
Speaker 2: you could follow just stay motivated. Like that just wasn't

473
00:22:44,640 --> 00:22:48,680
Speaker 2: a thing. And so yeah, I decided to do that. Anyway,

474
00:22:49,000 --> 00:22:50,680
Speaker 2: I won't bore you with the whole story because I

475
00:22:50,720 --> 00:22:52,959
Speaker 2: feel like I've spoken about it before, but one thing

476
00:22:53,040 --> 00:22:54,960
Speaker 2: led to another, and I decided I did have a

477
00:22:55,040 --> 00:22:58,040
Speaker 2: passion for financial literacy. Yes, I was benefiting from it

478
00:22:58,119 --> 00:23:00,200
Speaker 2: because I was getting out of debt myself. But I

479
00:23:00,280 --> 00:23:02,440
Speaker 2: was like, oh, this is so powerful, Like if my

480
00:23:02,520 --> 00:23:04,720
Speaker 2: friends knew about this, or if my friends knew about

481
00:23:04,760 --> 00:23:07,680
Speaker 2: contributing extra to super or I remember thinking about my

482
00:23:07,760 --> 00:23:09,720
Speaker 2: best friend who I lived with. I'm like, she's not

483
00:23:10,160 --> 00:23:12,680
Speaker 2: that I was aware of. She's not in any debt. Like,

484
00:23:12,800 --> 00:23:15,720
Speaker 2: imagine how much she could save, well, she could invest

485
00:23:15,760 --> 00:23:17,800
Speaker 2: because she doesn't have to do what I do, but

486
00:23:17,880 --> 00:23:19,600
Speaker 2: she doesn't have to pay off her debt.

487
00:23:19,760 --> 00:23:22,399
Speaker 3: Like that's crazy, Like imagine you were putting eight hundred

488
00:23:22,400 --> 00:23:25,480
Speaker 3: a month away for Oh, my goods.

489
00:23:24,880 --> 00:23:26,640
Speaker 2: I don't even want to talk about what I could

490
00:23:26,680 --> 00:23:29,800
Speaker 2: have died and myself at that point. So yeah, that's

491
00:23:29,960 --> 00:23:33,240
Speaker 2: I guess what kicks started it. And it was like, honestly,

492
00:23:33,320 --> 00:23:35,639
Speaker 2: it was me getting a pay rise and realizing that, oh,

493
00:23:35,800 --> 00:23:38,960
Speaker 2: actually contributing more to your debt does start to have

494
00:23:39,080 --> 00:23:40,920
Speaker 2: an impact, even though it was like I think, like

495
00:23:41,040 --> 00:23:44,800
Speaker 2: fifty bucks a week or something. Okay, So what advice would.

496
00:23:44,600 --> 00:23:46,679
Speaker 3: You give to someone trying to choose the right repayment

497
00:23:46,920 --> 00:23:50,680
Speaker 3: strategy for the situation. What motivates you For me, I

498
00:23:50,920 --> 00:23:54,200
Speaker 3: just liked seeing it come down. And I mean when

499
00:23:54,200 --> 00:23:57,320
Speaker 3: you're picking like the snowball or the avalanche method, often

500
00:23:57,359 --> 00:24:01,040
Speaker 3: they're really aligned to having multiple small debts and you pick.

501
00:24:01,480 --> 00:24:03,840
Speaker 3: You know, with the snowball method, you pick the smallest

502
00:24:03,880 --> 00:24:05,760
Speaker 3: debt and try and pay that off as quickly as

503
00:24:05,800 --> 00:24:08,680
Speaker 3: possible so that then you have less total debts. And

504
00:24:08,800 --> 00:24:11,720
Speaker 3: with the avalanche method, you're picking the debt that has

505
00:24:11,800 --> 00:24:14,879
Speaker 3: the highest interest and paying that off aggressively and then

506
00:24:15,000 --> 00:24:18,400
Speaker 3: moving down from there. And there are financial benefits for both,

507
00:24:19,040 --> 00:24:22,240
Speaker 3: and there are also like motivational benefits for both, right,

508
00:24:22,280 --> 00:24:24,680
Speaker 3: because like, if you're feeling good about paying off your debt,

509
00:24:25,240 --> 00:24:27,639
Speaker 3: I actually don't care if it costs you a bit

510
00:24:27,760 --> 00:24:30,840
Speaker 3: more interest in long term, as long as you're prioritizing it,

511
00:24:30,920 --> 00:24:33,560
Speaker 3: because like, look at what I did for more than

512
00:24:33,720 --> 00:24:36,680
Speaker 3: three years back, I did not pay more than the

513
00:24:36,760 --> 00:24:39,760
Speaker 3: minimum repayment. In fact, I wasn't even looking at the

514
00:24:39,840 --> 00:24:43,800
Speaker 3: total debt. I can't remember ever looking at any statements

515
00:24:43,880 --> 00:24:45,399
Speaker 3: or logging into the online account.

516
00:24:45,440 --> 00:24:47,760
Speaker 2: I didn't want to know what the total was. And

517
00:24:47,880 --> 00:24:49,840
Speaker 2: if during that period of time you said how much

518
00:24:49,920 --> 00:24:52,400
Speaker 2: debt were you in? In my head, all I had

519
00:24:52,560 --> 00:24:55,560
Speaker 2: was that forty thousand dollars, Like, I didn't know how

520
00:24:55,640 --> 00:24:57,480
Speaker 2: much had been paid off. I didn't know what that

521
00:24:57,560 --> 00:24:59,760
Speaker 2: eight hundred and fifty three dollars a month was doing,

522
00:25:00,160 --> 00:25:02,320
Speaker 2: because like I was just kind of scared to look,

523
00:25:02,359 --> 00:25:04,119
Speaker 2: but also embarrassed to look, and like, you know what,

524
00:25:04,200 --> 00:25:06,760
Speaker 2: it's like you just don't want to, like you don't

525
00:25:06,760 --> 00:25:08,920
Speaker 2: want to look. I know. So I think for me,

526
00:25:09,119 --> 00:25:11,679
Speaker 2: the best advice I have is not picking a strategy,

527
00:25:12,480 --> 00:25:15,399
Speaker 2: but picking yourself up and going, do you know what,

528
00:25:16,080 --> 00:25:18,480
Speaker 2: debt doesn't make me a bad person. I don't think

529
00:25:18,600 --> 00:25:22,080
Speaker 2: anybody would look at me now and go o V

530
00:25:22,240 --> 00:25:25,000
Speaker 2: when you're in debt, you're a terrible person, or beck

531
00:25:25,080 --> 00:25:28,240
Speaker 2: when you were in debt, awful person. I was still me.

532
00:25:28,800 --> 00:25:31,480
Speaker 2: I was judging myself harder. I was being so harsh

533
00:25:31,560 --> 00:25:33,639
Speaker 2: on myself. I was not kind in the way that

534
00:25:33,760 --> 00:25:37,000
Speaker 2: I spoke to myself, like sorry, I deserved so much

535
00:25:37,040 --> 00:25:39,640
Speaker 2: more than that. Yeah, and do you know what, by

536
00:25:39,720 --> 00:25:42,760
Speaker 2: looking at my debt, I would have been able to go, oh,

537
00:25:43,040 --> 00:25:45,040
Speaker 2: I could get out of this. I could have gotten

538
00:25:45,080 --> 00:25:48,000
Speaker 2: out of it so much easier. Like I literally didn't

539
00:25:48,000 --> 00:25:50,640
Speaker 2: get out of that debt until after I met my husband. Yeah,

540
00:25:50,680 --> 00:25:53,720
Speaker 2: and I remember that was so embarrassing to me, Like

541
00:25:53,920 --> 00:25:55,119
Speaker 2: you know when people are like, oh, do you ask

542
00:25:55,160 --> 00:25:58,399
Speaker 2: about finances on the first aid? Absolutely not. If he

543
00:25:58,520 --> 00:26:01,920
Speaker 2: had asked, honest to god, I would have lied to him. Yeah,

544
00:26:01,920 --> 00:26:03,600
Speaker 2: he'd been like, oh, do you have any personal debt?

545
00:26:03,600 --> 00:26:05,840
Speaker 2: I'd be like, no, you're an idiot, But that's a

546
00:26:05,880 --> 00:26:08,640
Speaker 2: sexy question. But neither of us asked because it turns

547
00:26:08,640 --> 00:26:10,600
Speaker 2: out we were both in personal debt where we met

548
00:26:10,640 --> 00:26:13,280
Speaker 2: each other. That's so comforting for some reason, you know,

549
00:26:13,480 --> 00:26:15,720
Speaker 2: do you know what I remember Like we were together

550
00:26:16,119 --> 00:26:19,240
Speaker 2: for a while and it didn't ever come up. And

551
00:26:19,320 --> 00:26:21,879
Speaker 2: then we moved in together and we had separate finances

552
00:26:21,920 --> 00:26:24,159
Speaker 2: and that was fine, and we'd both like you know,

553
00:26:24,320 --> 00:26:26,440
Speaker 2: agreed on what rent we could pay. And at that time,

554
00:26:26,520 --> 00:26:28,560
Speaker 2: I'd started earning a bit more money, so like there

555
00:26:28,640 --> 00:26:30,639
Speaker 2: was a little bit more to like wiggle around with.

556
00:26:30,760 --> 00:26:33,800
Speaker 2: And we got this little apartment together and it was

557
00:26:33,840 --> 00:26:36,040
Speaker 2: all sunshine and roses. And then I think I was

558
00:26:36,200 --> 00:26:38,200
Speaker 2: him that brought up, oh yeah, and I have this

559
00:26:38,320 --> 00:26:42,159
Speaker 2: debt repayment. I remember being like, sorry, what, like right me?

560
00:26:43,080 --> 00:26:48,760
Speaker 2: Judging him calling the kettle black. I remember being like, wait,

561
00:26:48,840 --> 00:26:52,040
Speaker 2: you've got personal debt and then asking about it and

562
00:26:52,200 --> 00:26:54,639
Speaker 2: like he had like probably I don't know, like a

563
00:26:54,720 --> 00:26:57,639
Speaker 2: ten thousand dollar personal loan or something for something along

564
00:26:57,720 --> 00:27:01,000
Speaker 2: the way, and like, I don't I don't think anybody

565
00:27:01,080 --> 00:27:02,520
Speaker 2: ever goes into debt, being like, do you know what

566
00:27:02,600 --> 00:27:06,680
Speaker 2: I really want debt? Yeah, Like it's always out of

567
00:27:06,800 --> 00:27:10,000
Speaker 2: necessity or need. And I remember being like, oh, good,

568
00:27:10,600 --> 00:27:13,240
Speaker 2: he's also got this debt and that made me feel

569
00:27:13,280 --> 00:27:15,760
Speaker 2: comfortable to tell him that I had it. And then

570
00:27:15,800 --> 00:27:17,719
Speaker 2: we spoke about, well, if we ever want to buy

571
00:27:17,800 --> 00:27:20,720
Speaker 2: property together, or have kids together, or do this stuff together,

572
00:27:20,720 --> 00:27:22,040
Speaker 2: we're going to have to get rid of that. And

573
00:27:22,160 --> 00:27:24,480
Speaker 2: so we both kind of knuckled down on our own

574
00:27:24,600 --> 00:27:27,320
Speaker 2: debts and like we were paying all of that out

575
00:27:27,359 --> 00:27:30,000
Speaker 2: because I think at that stage we realized we do

576
00:27:30,119 --> 00:27:32,119
Speaker 2: really love each other. We've just moved in together, this

577
00:27:32,240 --> 00:27:34,280
Speaker 2: is all sunshine and roses, and we would love to

578
00:27:34,320 --> 00:27:36,320
Speaker 2: start saving for a house, but we can't start saving

579
00:27:36,400 --> 00:27:38,080
Speaker 2: for a house until we get rid of these debts.

580
00:27:38,480 --> 00:27:41,560
Speaker 2: So we were doing that, but delusional me, I still

581
00:27:41,640 --> 00:27:44,160
Speaker 2: kind of had that little savings account to the side.

582
00:27:44,280 --> 00:27:46,359
Speaker 2: With a little bit of cash in it, and again,

583
00:27:46,640 --> 00:27:49,879
Speaker 2: don't do that. You can have an emergency fund, that's fine.

584
00:27:49,960 --> 00:27:52,080
Speaker 2: But I remember being like, oh, that's so that's for

585
00:27:52,160 --> 00:27:54,240
Speaker 2: the future. I should have just put it on my debt.

586
00:27:54,359 --> 00:27:58,200
Speaker 2: But sure. Anyway, hindsight is twenty twenty, and yeah, it

587
00:27:58,359 --> 00:28:01,680
Speaker 2: wasn't until then that I really really wanted to knuckle down,

588
00:28:01,800 --> 00:28:04,760
Speaker 2: because if I'm being honest, I didn't have the motivation

589
00:28:04,960 --> 00:28:07,040
Speaker 2: to pay it off because I didn't have any carrot

590
00:28:07,119 --> 00:28:11,280
Speaker 2: that was worth paying it off for until I realized, oh,

591
00:28:11,760 --> 00:28:13,720
Speaker 2: I actually want to build a life with someone, and

592
00:28:13,800 --> 00:28:15,760
Speaker 2: debt's not going to get me there. Debt's not going

593
00:28:15,800 --> 00:28:18,440
Speaker 2: to help me. We can't get a home loan, We can't,

594
00:28:18,520 --> 00:28:20,760
Speaker 2: you know, say for our deposit. We can't do any

595
00:28:20,840 --> 00:28:23,520
Speaker 2: of these things until I get my shit together. Yeah,

596
00:28:23,600 --> 00:28:24,280
Speaker 2: for sure, I.

597
00:28:24,359 --> 00:28:27,439
Speaker 3: Think that is so relatable. Sometimes you just thrown up

598
00:28:27,440 --> 00:28:29,800
Speaker 3: the motivation until there's something that you really want.

599
00:28:29,800 --> 00:28:32,040
Speaker 2: You can see when it was just about me, but

600
00:28:32,160 --> 00:28:35,560
Speaker 2: then it's about somebody else. I don't know, I get it.

601
00:28:35,680 --> 00:28:37,680
Speaker 2: I'm not saying that you should wait for that. In fact,

602
00:28:37,760 --> 00:28:41,160
Speaker 2: I wish that I had entered that relationship, you know,

603
00:28:41,280 --> 00:28:45,080
Speaker 2: completely debt free and super financially empowered and all of

604
00:28:45,200 --> 00:28:47,160
Speaker 2: like I wish all of that for baby me, but

605
00:28:48,040 --> 00:28:50,120
Speaker 2: you know it didn't work out so badly totally and

606
00:28:50,200 --> 00:28:52,000
Speaker 2: you see to find your carrot. Let's go to a

607
00:28:52,040 --> 00:28:53,760
Speaker 2: really quick break and when we get back, I want

608
00:28:53,760 --> 00:28:55,600
Speaker 2: to get into what be actually cut from a budget,

609
00:28:55,800 --> 00:28:58,720
Speaker 2: whether she hustled for extra cash, and the mindset shift

610
00:28:58,880 --> 00:29:05,400
Speaker 2: that changed everything. Alrighty guys, we are back, and I

611
00:29:05,480 --> 00:29:08,080
Speaker 2: want to get straight into the juicy stuff, so via,

612
00:29:08,120 --> 00:29:09,880
Speaker 2: I want to know what your budget looked like, what

613
00:29:10,000 --> 00:29:12,160
Speaker 2: did you slash and what were your non negotiables that

614
00:29:12,200 --> 00:29:15,040
Speaker 2: you kept A long story short, I think after I

615
00:29:15,160 --> 00:29:18,320
Speaker 2: got that credit card and was splashing on like this Scanlan,

616
00:29:18,400 --> 00:29:21,040
Speaker 2: theat All pieces and that suit from Saba, I kind

617
00:29:21,080 --> 00:29:25,520
Speaker 2: of got scared of it. And I wasn't really spending big,

618
00:29:25,720 --> 00:29:28,200
Speaker 2: but because I didn't have a massive salary, most of

619
00:29:28,280 --> 00:29:31,320
Speaker 2: my income was going to debt reduction. So like quote,

620
00:29:31,440 --> 00:29:35,800
Speaker 2: slashing things from my budget wasn't really helping. I wish

621
00:29:35,840 --> 00:29:37,680
Speaker 2: I could be like, oh, yep, I slashed this and this.

622
00:29:38,320 --> 00:29:41,480
Speaker 2: I remember sitting down with Steve, my now husband, and

623
00:29:41,560 --> 00:29:43,480
Speaker 2: we were like okay, cool, Like where can we save

624
00:29:43,600 --> 00:29:45,640
Speaker 2: some money so that we can both pay off our

625
00:29:45,720 --> 00:29:47,680
Speaker 2: debts a bit better. And at the time, I think

626
00:29:47,720 --> 00:29:49,960
Speaker 2: in that first, you know, two years of our relationship,

627
00:29:50,000 --> 00:29:52,440
Speaker 2: we were eating out a lot, Like you know, when

628
00:29:52,520 --> 00:29:56,200
Speaker 2: we were cooking dinner together, we weren't necessarily cooking budget meals.

629
00:29:56,280 --> 00:29:58,880
Speaker 2: He was always like calling me before he got home

630
00:29:58,880 --> 00:30:00,200
Speaker 2: from work and we'd be like, oh, what we want

631
00:30:00,240 --> 00:30:02,280
Speaker 2: for dinner? And I'd be like, oh, I don't know,

632
00:30:02,560 --> 00:30:06,680
Speaker 2: like salmon or something from the supermarket, and like salmon

633
00:30:06,760 --> 00:30:09,400
Speaker 2: on this is so niche, but like that would be

634
00:30:09,480 --> 00:30:13,240
Speaker 2: one of our go to meals. Yeah, before we started

635
00:30:13,400 --> 00:30:16,960
Speaker 2: planning to get out of debt. Salmon's like at least

636
00:30:17,040 --> 00:30:19,800
Speaker 2: ten dollars fourteen dollars at the moment per packet for

637
00:30:20,040 --> 00:30:22,440
Speaker 2: two pieces of fish, and then he'd get sides, and

638
00:30:22,480 --> 00:30:24,920
Speaker 2: we'd always get broccolini, and that all of a sudden

639
00:30:25,000 --> 00:30:28,560
Speaker 2: becomes a thirty plus dollar dinner yea, even though you're

640
00:30:28,600 --> 00:30:32,040
Speaker 2: just quote swinging past the supermarket. So it was things

641
00:30:32,160 --> 00:30:34,440
Speaker 2: like that where we were like, oh, we probably should

642
00:30:34,480 --> 00:30:37,160
Speaker 2: be more planned with our meals. We probably should be

643
00:30:37,320 --> 00:30:40,600
Speaker 2: better at you know, meal planning and meal prepping and whatnot.

644
00:30:40,720 --> 00:30:43,560
Speaker 2: So I think once we both got the clarity that

645
00:30:44,040 --> 00:30:46,520
Speaker 2: hold on, we both actually have personal debts. We probably

646
00:30:46,560 --> 00:30:49,560
Speaker 2: should be prioritizing this. It was much easier to cut

647
00:30:49,640 --> 00:30:53,040
Speaker 2: out brunches on the weekends. We'd eat at home and

648
00:30:53,200 --> 00:30:54,920
Speaker 2: go for a walk and grab a coffee and like,

649
00:30:55,280 --> 00:30:57,440
Speaker 2: it sounds so silly because I tell you guys to

650
00:30:57,520 --> 00:30:59,520
Speaker 2: do that, but that's because that's what worked for me.

651
00:31:00,040 --> 00:31:02,880
Speaker 2: Would and we still, even though we are very financially

652
00:31:02,920 --> 00:31:05,440
Speaker 2: secure now to this day, do this. We're always like, oh,

653
00:31:05,520 --> 00:31:06,680
Speaker 2: do you want to have a piece of toast, and

654
00:31:06,720 --> 00:31:09,000
Speaker 2: then we'll go for a coffee walk with our son Harvey.

655
00:31:09,520 --> 00:31:11,680
Speaker 2: Like we always say that we'll go for a coffee

656
00:31:11,720 --> 00:31:15,000
Speaker 2: walk because historically, when we were getting out of debt,

657
00:31:15,080 --> 00:31:17,560
Speaker 2: the coffee walk was like our treat and our in

658
00:31:17,760 --> 00:31:20,640
Speaker 2: between of not going to brunch anymore. Yeah, so we

659
00:31:20,680 --> 00:31:23,000
Speaker 2: would sometimes jump in the car, drive to the Tan,

660
00:31:23,200 --> 00:31:25,920
Speaker 2: grab a coffee, and then do the walk around the Tan,

661
00:31:26,080 --> 00:31:28,760
Speaker 2: and that was like our mid morning activity on the weekend.

662
00:31:29,240 --> 00:31:31,800
Speaker 2: Or like now we live in our like the area

663
00:31:31,880 --> 00:31:33,680
Speaker 2: that we live in, we just like, you know, go

664
00:31:33,800 --> 00:31:36,400
Speaker 2: for a walk around that area. But yeah, like the

665
00:31:36,520 --> 00:31:40,520
Speaker 2: whole idea of a coffee walk for us really originated

666
00:31:40,640 --> 00:31:43,080
Speaker 2: from not going out for brunch, not going out for lunch,

667
00:31:43,120 --> 00:31:45,680
Speaker 2: trying to save on the weekends, but also being people

668
00:31:45,760 --> 00:31:49,400
Speaker 2: that love dining out, being people who love a cafe coffee,

669
00:31:49,800 --> 00:31:52,000
Speaker 2: being people who still want to feel like we're not

670
00:31:52,200 --> 00:31:55,240
Speaker 2: restricting ourselves. So that really worked for us. Would it

671
00:31:55,320 --> 00:31:58,400
Speaker 2: work for you? Who knows? But I think thinking about

672
00:31:58,760 --> 00:32:02,080
Speaker 2: what are you gonna place that with was really helpful

673
00:32:02,160 --> 00:32:05,240
Speaker 2: for us. So swap don't stop? They say, yeah, and

674
00:32:05,920 --> 00:32:09,720
Speaker 2: I think, not going, Oh well, we can't go out anymore.

675
00:32:10,040 --> 00:32:11,320
Speaker 2: What are we going to do? Sit on the couch

676
00:32:11,360 --> 00:32:14,840
Speaker 2: and twitterle our thumbs. Like, I'm not saying don't spend money,

677
00:32:14,880 --> 00:32:17,640
Speaker 2: but can you swap it for a cheaper activity? Can

678
00:32:17,720 --> 00:32:20,040
Speaker 2: you work out what you could do? Like, you know,

679
00:32:20,160 --> 00:32:24,080
Speaker 2: I'm not saying that the cheap Tuesday movie night tickets

680
00:32:24,120 --> 00:32:26,640
Speaker 2: are gonna save you heaps of money, but if going

681
00:32:26,840 --> 00:32:29,520
Speaker 2: out is a really big priority to you and having

682
00:32:29,560 --> 00:32:31,920
Speaker 2: a date night once a month is really important, how

683
00:32:32,000 --> 00:32:34,480
Speaker 2: can you make that as cost effective as possible? And

684
00:32:34,560 --> 00:32:38,920
Speaker 2: we started thinking like that. And when you start to

685
00:32:39,080 --> 00:32:41,200
Speaker 2: think that way, it kind of becomes like a game,

686
00:32:41,320 --> 00:32:43,160
Speaker 2: It kind of becomes fun. I totally get it. Yeah,

687
00:32:43,280 --> 00:32:46,160
Speaker 2: like the steak night at the Spread Eagle Hotel became.

688
00:32:46,440 --> 00:32:48,720
Speaker 2: It was back when we were getting out of debt.

689
00:32:48,720 --> 00:32:51,200
Speaker 2: It was much cheaper. I think it was like eighteen

690
00:32:51,280 --> 00:32:54,080
Speaker 2: dollars and it was like steak a drink, so you

691
00:32:54,160 --> 00:32:56,000
Speaker 2: could have like a beer or a wine or a

692
00:32:56,040 --> 00:32:58,520
Speaker 2: soft drink or whatever. It was steak insides and like

693
00:32:58,600 --> 00:33:00,840
Speaker 2: it was a really nice night out. And I remember

694
00:33:00,960 --> 00:33:02,720
Speaker 2: it was like a date night that we could go

695
00:33:02,840 --> 00:33:05,000
Speaker 2: on maybe once a month, we'd go out for a

696
00:33:05,120 --> 00:33:07,320
Speaker 2: fancy dinner and it was less than fifty dollars for

697
00:33:07,360 --> 00:33:09,840
Speaker 2: the both yes, right, yeah, And so I wouldn't say

698
00:33:09,880 --> 00:33:11,640
Speaker 2: gammify it, but it was kind of like a game

699
00:33:11,680 --> 00:33:13,640
Speaker 2: where you were like, okay, well, how could we go

700
00:33:13,840 --> 00:33:16,440
Speaker 2: out have a really good night and we kind of

701
00:33:16,480 --> 00:33:19,200
Speaker 2: still felt like we were winning. Yeah, I think that's

702
00:33:19,280 --> 00:33:19,720
Speaker 2: really cute.

703
00:33:19,760 --> 00:33:22,960
Speaker 3: And I guess if you are already you can't cut

704
00:33:23,000 --> 00:33:25,040
Speaker 3: anything from the budgets. It's like, well do I just

705
00:33:25,440 --> 00:33:28,320
Speaker 3: stop eating? Like I literally am on End's meat here.

706
00:33:28,840 --> 00:33:30,680
Speaker 3: I've just there's so many fun things you could do

707
00:33:30,720 --> 00:33:33,240
Speaker 3: with your own Like you have a deb mash and

708
00:33:33,400 --> 00:33:35,720
Speaker 3: a bloody sausage and you just write it down on

709
00:33:35,800 --> 00:33:38,360
Speaker 3: an a for paper and pretend it's a menu and.

710
00:33:38,400 --> 00:33:39,840
Speaker 2: You can just like make some fun out of it,

711
00:33:39,960 --> 00:33:41,480
Speaker 2: you know, dude. And like, I think a lot of

712
00:33:41,560 --> 00:33:44,760
Speaker 2: that still because we were doing that together, that stuff

713
00:33:44,800 --> 00:33:47,320
Speaker 2: still sticks with us, like it's become part of what

714
00:33:47,520 --> 00:33:53,360
Speaker 2: we just default to now. And I like, I find

715
00:33:53,520 --> 00:33:56,280
Speaker 2: that some people in our community have said, oh, you're

716
00:33:56,320 --> 00:34:00,560
Speaker 2: not relatable anymore, Victoria, And it's because I'm not in

717
00:34:00,640 --> 00:34:03,560
Speaker 2: the financial situation that people can relate to. But like,

718
00:34:03,760 --> 00:34:08,160
Speaker 2: I'm still the same person. I still love cheap steak die,

719
00:34:08,440 --> 00:34:11,440
Speaker 2: I still love going for my coffee walks. I still

720
00:34:11,560 --> 00:34:15,400
Speaker 2: find brunches that cost more than forty dollars absolutely exorbitant.

721
00:34:15,800 --> 00:34:18,120
Speaker 2: Just because I have more money does not mean that

722
00:34:18,200 --> 00:34:20,880
Speaker 2: I'm a different person. It doesn't mean I've lost my

723
00:34:21,000 --> 00:34:24,279
Speaker 2: way or lost my ability to understand the cost of

724
00:34:24,360 --> 00:34:26,799
Speaker 2: living crisis. Like I see it, I feel it. It's

725
00:34:26,920 --> 00:34:30,200
Speaker 2: why I'm so wildly passionate about continuing to create the

726
00:34:30,280 --> 00:34:33,560
Speaker 2: content that we create, because nobody deserves to be in

727
00:34:33,640 --> 00:34:36,320
Speaker 2: the position that I was in and feeling as guilty

728
00:34:36,440 --> 00:34:39,439
Speaker 2: and bad about themselves as I did. Like, it's why

729
00:34:39,600 --> 00:34:42,160
Speaker 2: She's on the money, was born and continues to be there.

730
00:34:42,640 --> 00:34:44,960
Speaker 2: So I just I look at it and I go, oh,

731
00:34:45,800 --> 00:34:47,960
Speaker 2: I don't think you guys realize that. Yes, I drive

732
00:34:48,040 --> 00:34:50,680
Speaker 2: a really fancy car now, but do you know how

733
00:34:50,760 --> 00:34:53,080
Speaker 2: much I appreciate that because of where I've come from.

734
00:34:53,200 --> 00:34:56,359
Speaker 2: I think that when you have been in debt, when

735
00:34:56,400 --> 00:35:01,799
Speaker 2: you have lived below your means, and once you get

736
00:35:01,840 --> 00:35:04,280
Speaker 2: out of that, and once you learn you can actually

737
00:35:04,440 --> 00:35:07,719
Speaker 2: keep yourself out of that, you don't want to go back. Yeah, Like,

738
00:35:07,880 --> 00:35:10,840
Speaker 2: once you taste financial freedom and once you realize what

739
00:35:10,960 --> 00:35:13,480
Speaker 2: that gives you, and once you realize that financial freedom

740
00:35:13,560 --> 00:35:17,399
Speaker 2: doesn't mean being rich, it means having choices and being

741
00:35:17,800 --> 00:35:20,719
Speaker 2: able to make a decision, you go, wow, this is

742
00:35:20,880 --> 00:35:22,960
Speaker 2: really cool. This is what I want for me, And

743
00:35:23,040 --> 00:35:25,759
Speaker 2: I'm willing to sacrifice a lot, because Becky, if I

744
00:35:25,840 --> 00:35:30,040
Speaker 2: lost absolutely everything tomorrow, you best believe I'd be back

745
00:35:30,040 --> 00:35:33,280
Speaker 2: in a cafe working behind the bar. I would absolutely

746
00:35:33,800 --> 00:35:36,759
Speaker 2: hustle my way back up to make sure that I

747
00:35:36,920 --> 00:35:39,399
Speaker 2: had my emergency fund, to make sure that I had

748
00:35:39,680 --> 00:35:42,840
Speaker 2: the ability to put food on the table and be

749
00:35:43,000 --> 00:35:44,840
Speaker 2: able to make choices totally.

750
00:35:45,280 --> 00:35:47,080
Speaker 3: Now, this leads me to my next question, because I

751
00:35:47,200 --> 00:35:49,640
Speaker 3: know that we're having talking about like cutting things from

752
00:35:49,640 --> 00:35:52,319
Speaker 3: the budget, But did you boost your income while paying

753
00:35:52,320 --> 00:35:54,719
Speaker 3: off your debt like a side hustle, extra work things

754
00:35:54,800 --> 00:35:54,920
Speaker 3: like that.

755
00:35:55,160 --> 00:35:57,560
Speaker 2: I wish I had the capacity to do, so. I

756
00:35:57,719 --> 00:36:00,359
Speaker 2: thought about it a lot of times. I remember going

757
00:36:00,400 --> 00:36:03,160
Speaker 2: to a job interview for a cafe because I was like, Oh,

758
00:36:03,200 --> 00:36:04,920
Speaker 2: what if I like just worked on a Saturday or

759
00:36:04,920 --> 00:36:07,800
Speaker 2: a Sunday. And I remember, like Sunday rates were really attractive.

760
00:36:07,880 --> 00:36:11,000
Speaker 2: I was like, Oh, what if I did that? But honestly,

761
00:36:11,120 --> 00:36:14,560
Speaker 2: during that period of my life, I was working full time.

762
00:36:14,719 --> 00:36:16,800
Speaker 2: I was trying to start She's on the money and

763
00:36:16,920 --> 00:36:19,640
Speaker 2: I didn't at the time think that she's on the

764
00:36:19,680 --> 00:36:21,000
Speaker 2: money was like a side hustle.

765
00:36:21,200 --> 00:36:21,400
Speaker 3: To me.

766
00:36:21,520 --> 00:36:24,200
Speaker 2: It felt like more of a I want to say,

767
00:36:24,239 --> 00:36:26,640
Speaker 2: community service. But I was not doing it because I

768
00:36:26,680 --> 00:36:29,200
Speaker 2: thought i'd make money. I didn't think I would make money. Sure,

769
00:36:29,320 --> 00:36:33,040
Speaker 2: I didn't think it would become a podcast. I was

770
00:36:33,120 --> 00:36:35,160
Speaker 2: doing that, but I was also studying full time, I

771
00:36:35,239 --> 00:36:38,080
Speaker 2: was doing my MBA, so like that was a lot

772
00:36:38,200 --> 00:36:41,040
Speaker 2: to take on and I just simply didn't have the capacity.

773
00:36:41,160 --> 00:36:43,960
Speaker 2: That's so fair. I wish i'd known more about like

774
00:36:44,120 --> 00:36:46,640
Speaker 2: air Tasker. I wish I'd known more about all of

775
00:36:46,719 --> 00:36:50,080
Speaker 2: these kind of like husty apps where I didn't have

776
00:36:50,239 --> 00:36:53,400
Speaker 2: to commit to every single Saturday, like I wish that

777
00:36:53,480 --> 00:36:55,759
Speaker 2: i'd had. I don't know, like maybe I was a

778
00:36:55,840 --> 00:36:58,400
Speaker 2: casual at a cafe and they text me occasionally said, oh,

779
00:36:58,400 --> 00:37:00,239
Speaker 2: do you want a Saturday shift this week? I would

780
00:37:00,239 --> 00:37:02,640
Speaker 2: have loved that, because, like you know, some weeks you've

781
00:37:02,640 --> 00:37:04,719
Speaker 2: got the capacity, some weeks you don't. Or I wish

782
00:37:04,800 --> 00:37:07,440
Speaker 2: I'd been able to jump on air tasker and like

783
00:37:07,600 --> 00:37:10,880
Speaker 2: take up tutoring or something, but I didn't know that

784
00:37:11,000 --> 00:37:12,520
Speaker 2: was an option. I don't even think it was an

785
00:37:12,560 --> 00:37:16,000
Speaker 2: option then. But like I wish I had more flexible

786
00:37:16,080 --> 00:37:18,640
Speaker 2: side hustle options because I know I would have taken

787
00:37:18,680 --> 00:37:21,120
Speaker 2: them if I could have. I just didn't know they existed. No,

788
00:37:21,719 --> 00:37:24,000
Speaker 2: I totally get it. Well, we're almost done by the

789
00:37:24,000 --> 00:37:27,040
Speaker 2: way I went, almost out of time. I am so sorry. No, no, no,

790
00:37:27,200 --> 00:37:29,680
Speaker 2: I want to Yeah, this was my this is my

791
00:37:29,800 --> 00:37:31,759
Speaker 2: warning to you, but just so you know, almost off

792
00:37:31,760 --> 00:37:33,560
Speaker 2: the hook. I have two more questions for you.

793
00:37:33,840 --> 00:37:36,279
Speaker 3: Okay, So this one is, you've seen so many people

794
00:37:36,320 --> 00:37:38,480
Speaker 3: get out of debt and turn their money stories around.

795
00:37:38,560 --> 00:37:41,120
Speaker 3: Is there one habit or change made that you constantly

796
00:37:41,200 --> 00:37:42,759
Speaker 3: see in those who are successful.

797
00:37:42,960 --> 00:37:47,120
Speaker 2: Yeah, consistency, Yes, that's so lame, right, Like I wish

798
00:37:47,160 --> 00:37:49,120
Speaker 2: it could be like, oh my goodness, it's this one

799
00:37:49,239 --> 00:37:53,160
Speaker 2: sparkly thing. But getting out of debt isn't sexy. Getting

800
00:37:53,200 --> 00:37:55,560
Speaker 2: into debt can be. And I think that's why you

801
00:37:56,320 --> 00:37:59,560
Speaker 2: want getting out of debt to be equally fun, right,

802
00:37:59,600 --> 00:38:02,600
Speaker 2: because like getting into debt, no word of lie had

803
00:38:02,600 --> 00:38:04,880
Speaker 2: a great time. Oh my god, not gonna lie, not

804
00:38:05,000 --> 00:38:08,680
Speaker 2: gonna lie. Like sorry, I walked Like, let's just frame this.

805
00:38:09,120 --> 00:38:11,880
Speaker 2: I walked into a bank deck. I gave the minimum paperwork,

806
00:38:12,320 --> 00:38:15,520
Speaker 2: they gave me forty thousand dollars. I got to spend

807
00:38:15,560 --> 00:38:18,239
Speaker 2: it based on free will. Yeah, and I sure did.

808
00:38:19,560 --> 00:38:21,439
Speaker 2: But do you know what I mean? Like getting into

809
00:38:21,480 --> 00:38:23,480
Speaker 2: debt is fun, getting out of debt is the hardslog.

810
00:38:23,600 --> 00:38:25,120
Speaker 2: That is not what you paid, Like, that's not what

811
00:38:25,239 --> 00:38:28,239
Speaker 2: you signed up for. I don't think anyone goes, oh,

812
00:38:28,640 --> 00:38:31,320
Speaker 2: I didn't realize that. We just don't think these decisions

813
00:38:31,480 --> 00:38:34,520
Speaker 2: through properly. I think if I was talking to somebody

814
00:38:35,200 --> 00:38:37,560
Speaker 2: about like what one change or habit, I think it's

815
00:38:38,239 --> 00:38:41,520
Speaker 2: it's a bit of a mindset shift. So it's realizing

816
00:38:41,600 --> 00:38:44,160
Speaker 2: that you're not a shitty person because you're in debt.

817
00:38:44,600 --> 00:38:47,279
Speaker 2: That is not a reflection of your self worth. And

818
00:38:47,440 --> 00:38:52,400
Speaker 2: for so long I genuinely saw my self worth as

819
00:38:52,560 --> 00:38:55,680
Speaker 2: being deeply tied to the fact that I was in debt.

820
00:38:56,000 --> 00:38:58,640
Speaker 2: I felt shameful about that. I felt like that should

821
00:38:58,680 --> 00:39:01,400
Speaker 2: be a hidden part of me. I mean I literally

822
00:39:01,520 --> 00:39:04,680
Speaker 2: didn't even tell my boyfriend that I had debt until

823
00:39:04,719 --> 00:39:07,760
Speaker 2: after i'd moved in with him. Would I ever recommend

824
00:39:07,800 --> 00:39:09,719
Speaker 2: that to someone in my community. Absolutely not.

825
00:39:10,520 --> 00:39:10,719
Speaker 1: There.

826
00:39:11,640 --> 00:39:13,920
Speaker 2: I was absolutely relieved when I found out he was

827
00:39:13,920 --> 00:39:16,680
Speaker 2: also in debt, at the same time as being like,

828
00:39:16,800 --> 00:39:18,960
Speaker 2: what the hell, what do you mean you're also in debt?

829
00:39:19,200 --> 00:39:21,840
Speaker 2: Like now we both have to get out of this anyway.

830
00:39:22,440 --> 00:39:26,040
Speaker 2: So I think when it comes to mindset shift, really

831
00:39:26,160 --> 00:39:29,000
Speaker 2: understanding that it's not tied to your self worth. But

832
00:39:29,120 --> 00:39:32,640
Speaker 2: then also it's about consistency, and we're not saying it

833
00:39:32,800 --> 00:39:34,920
Speaker 2: has to be the same amount of debt repayment each

834
00:39:34,960 --> 00:39:37,160
Speaker 2: and every single month. If you mess up one month

835
00:39:37,280 --> 00:39:39,040
Speaker 2: or you make a decision one month, that means that

836
00:39:39,120 --> 00:39:41,439
Speaker 2: there's less great. All I care about is that next

837
00:39:41,480 --> 00:39:44,360
Speaker 2: month you go, yeah, I'm prioritizing it again, I'm stepping

838
00:39:44,440 --> 00:39:47,200
Speaker 2: back up. I've spoken before on the podcast about this

839
00:39:47,360 --> 00:39:52,120
Speaker 2: concept of grit. There is this fantastic book by Angela Duckworth,

840
00:39:52,160 --> 00:39:53,839
Speaker 2: and we can put the link in the show notes.

841
00:39:53,920 --> 00:39:57,120
Speaker 2: For you guys, it's not about debt reduction, but it's

842
00:39:57,160 --> 00:40:02,040
Speaker 2: about what creates successful people. And it is not your intelligence.

843
00:40:02,200 --> 00:40:04,880
Speaker 2: It's not who you know, it's not even what you know.

844
00:40:05,440 --> 00:40:09,080
Speaker 2: It's actually about how many times you get pushed over

845
00:40:09,200 --> 00:40:11,719
Speaker 2: and you're willing to get back up. Like the most

846
00:40:11,840 --> 00:40:15,120
Speaker 2: successful people in the world, whether they are entrepreneurs or

847
00:40:15,200 --> 00:40:19,239
Speaker 2: they are just average people like you and me, they

848
00:40:19,520 --> 00:40:22,080
Speaker 2: are the ones that just go that didn't work, or

849
00:40:22,120 --> 00:40:24,879
Speaker 2: I'll get up and try again. Oh that didn't work.

850
00:40:25,000 --> 00:40:26,759
Speaker 2: That doesn't mean I'm a shitty person. I'm aa just

851
00:40:26,800 --> 00:40:29,839
Speaker 2: try again. Like, and I don't know about you back,

852
00:40:29,880 --> 00:40:32,600
Speaker 2: but I have so much respect for my friends who

853
00:40:32,719 --> 00:40:34,160
Speaker 2: do that, who are like, oh, it didn't work, but

854
00:40:34,160 --> 00:40:36,440
Speaker 2: I'll just give it another crack. Yeah, absolutely, you know

855
00:40:36,480 --> 00:40:38,279
Speaker 2: when you're just like I asked a friend the other

856
00:40:38,360 --> 00:40:40,160
Speaker 2: day she had an interview, and I said, how'd that

857
00:40:40,239 --> 00:40:42,360
Speaker 2: job interview go? She goes, I didn't get it, but like,

858
00:40:42,400 --> 00:40:44,640
Speaker 2: there'll be another one. I was like, oh my god,

859
00:40:44,800 --> 00:40:47,239
Speaker 2: Like I remember going to job interviews, and if I

860
00:40:47,320 --> 00:40:49,840
Speaker 2: didn't get it, i'd see that as a like personal

861
00:40:49,960 --> 00:40:53,440
Speaker 2: reflection of me not being worthwhile. I know that's not

862
00:40:53,600 --> 00:40:55,520
Speaker 2: the truth at all. And she was just like, yeah, yeah,

863
00:40:55,520 --> 00:40:57,919
Speaker 2: they must have just been somebody that fit the role better. Yeah,

864
00:40:58,239 --> 00:41:00,719
Speaker 2: Like she was able to separate it and just be like, oh,

865
00:41:00,800 --> 00:41:03,680
Speaker 2: get up and just do something else. Absolutely, what an icon.

866
00:41:03,840 --> 00:41:06,400
Speaker 2: But like that, I would say, is the defining factor

867
00:41:06,640 --> 00:41:09,600
Speaker 2: of what I see our community doing and what I

868
00:41:09,719 --> 00:41:13,560
Speaker 2: see our community learning. They seem to be going, Oh, actually,

869
00:41:13,680 --> 00:41:16,880
Speaker 2: my self worth isn't tied to debt. I can keep trying,

870
00:41:16,920 --> 00:41:19,120
Speaker 2: and I can keep plugging away at this and maybe

871
00:41:19,200 --> 00:41:21,200
Speaker 2: one month you have an extra two hundred bucks and

872
00:41:21,239 --> 00:41:22,880
Speaker 2: you throw it at your debt. But that's not wasted

873
00:41:23,239 --> 00:41:26,360
Speaker 2: like we see it as consistency. Yes, So for me,

874
00:41:26,440 --> 00:41:29,440
Speaker 2: I would say, it's just slow and steady wins the race. Okay.

875
00:41:29,560 --> 00:41:30,000
Speaker 2: I like that.

876
00:41:30,120 --> 00:41:31,759
Speaker 3: I like that, and I do want to acknowledge that

877
00:41:31,840 --> 00:41:33,799
Speaker 3: some people do have aspects of their identity that make

878
00:41:33,840 --> 00:41:34,320
Speaker 3: it a little.

879
00:41:34,120 --> 00:41:35,359
Speaker 2: Bit harder to get by in life.

880
00:41:35,400 --> 00:41:39,239
Speaker 3: But just you know, we're all gonna just keep doing

881
00:41:39,320 --> 00:41:40,680
Speaker 3: what we're doing, and if it takes you a little

882
00:41:40,680 --> 00:41:41,719
Speaker 3: bit longer, it's a little bit harder.

883
00:41:41,880 --> 00:41:43,879
Speaker 2: That's something that we just acknowledge. And then I never

884
00:41:44,000 --> 00:41:47,080
Speaker 2: met one person who I would say was an inherently

885
00:41:47,160 --> 00:41:50,400
Speaker 2: good person who would judge someone based on being in debt. No,

886
00:41:50,600 --> 00:41:52,920
Speaker 2: totally judge someone based on them being in debt. You're

887
00:41:53,000 --> 00:41:55,160
Speaker 2: kind of a shitty person. So I actually I just

888
00:41:55,200 --> 00:41:56,840
Speaker 2: don't have a lot. It's it's a weird thing to

889
00:41:57,000 --> 00:41:58,879
Speaker 2: judge someone for and like some of the best people

890
00:41:58,960 --> 00:42:02,120
Speaker 2: in my entire life, like you, right, thank you, You've

891
00:42:02,200 --> 00:42:05,360
Speaker 2: been in debt? Is that but like, does that change

892
00:42:05,480 --> 00:42:06,200
Speaker 2: the situation?

893
00:42:06,600 --> 00:42:06,640
Speaker 1: No?

894
00:42:07,000 --> 00:42:09,200
Speaker 2: Does that make you a worse off human being?

895
00:42:09,760 --> 00:42:09,800
Speaker 1: No?

896
00:42:10,080 --> 00:42:12,320
Speaker 2: I would say you're better than most people that I

897
00:42:12,440 --> 00:42:14,880
Speaker 2: come across. It's so sweet, but like you've got a

898
00:42:14,920 --> 00:42:17,640
Speaker 2: better moral compass. You know, I see what you're saying.

899
00:42:17,719 --> 00:42:19,880
Speaker 2: All the type of person I want to surround myself

900
00:42:20,000 --> 00:42:22,359
Speaker 2: with as opposed to do you know what I mean.

901
00:42:22,400 --> 00:42:23,919
Speaker 2: It's just I know you're saying. I know you're saying,

902
00:42:23,960 --> 00:42:26,680
Speaker 2: they're so sweetet you, thank you. People don't give themselves

903
00:42:26,800 --> 00:42:29,600
Speaker 2: enough credit for that. Yeah, it builds a lot of uh,

904
00:42:29,880 --> 00:42:33,040
Speaker 2: you know, multi layered personalities. So I know I really

905
00:42:33,160 --> 00:42:33,320
Speaker 2: like it.

906
00:42:33,920 --> 00:42:35,880
Speaker 3: So how do you feel about debt now. And this

907
00:42:35,960 --> 00:42:37,279
Speaker 3: is the last question, by the way, how do you

908
00:42:37,280 --> 00:42:39,320
Speaker 3: feel about debt now? And what is your approach to

909
00:42:39,360 --> 00:42:42,000
Speaker 3: credit and loans. I'm so angry about debt. I just

910
00:42:42,200 --> 00:42:44,000
Speaker 3: I still hold so much anger about it.

911
00:42:44,080 --> 00:42:46,279
Speaker 2: I think because I remember my journey and I just

912
00:42:46,360 --> 00:42:48,520
Speaker 2: don't want anybody else to have to go through that,

913
00:42:49,360 --> 00:42:52,440
Speaker 2: the shame, feeling awful about it, feeling like you're not

914
00:42:52,560 --> 00:42:55,120
Speaker 2: getting anywhere, feeling like you're missing out on life. Like

915
00:42:55,239 --> 00:42:57,560
Speaker 2: I remember just thinking there was a very big period

916
00:42:57,600 --> 00:42:59,520
Speaker 2: of my life where I was like, well, I'll never

917
00:42:59,719 --> 00:43:02,960
Speaker 2: be to afford property, Like that's just not a reality

918
00:43:03,040 --> 00:43:06,120
Speaker 2: for me. That's fine, And I remember like framing it

919
00:43:06,239 --> 00:43:08,920
Speaker 2: as though that didn't matter, and you don't have to

920
00:43:09,000 --> 00:43:11,120
Speaker 2: have property, you don't need to need that. But I

921
00:43:11,200 --> 00:43:14,360
Speaker 2: remember trying to justify it to myself because like, in

922
00:43:14,520 --> 00:43:16,960
Speaker 2: my head, the reason I would never have property was

923
00:43:17,040 --> 00:43:19,400
Speaker 2: because I was bad with money, right, And it was

924
00:43:19,480 --> 00:43:21,480
Speaker 2: because I would never be able to save a deposit,

925
00:43:21,560 --> 00:43:23,600
Speaker 2: and it's because I would always have personal debt. And

926
00:43:23,680 --> 00:43:25,520
Speaker 2: in my head, this was just gonna spiral for my

927
00:43:25,719 --> 00:43:30,160
Speaker 2: entire life. So I don't like debt. I also would

928
00:43:30,239 --> 00:43:33,040
Speaker 2: like to acknowledge that for some people, debt is such

929
00:43:33,280 --> 00:43:37,560
Speaker 2: necessary evil, Like it is a necessary part of getting

930
00:43:37,600 --> 00:43:39,960
Speaker 2: through We're in the middle of a cost of living crisis.

931
00:43:40,400 --> 00:43:42,719
Speaker 2: Do you think I am so naive to think that

932
00:43:42,840 --> 00:43:45,680
Speaker 2: the single mum who is earning fifty grand a year

933
00:43:45,719 --> 00:43:47,759
Speaker 2: and has three kids that she needs to get through

934
00:43:47,840 --> 00:43:50,160
Speaker 2: school is not going to go into debt to do

935
00:43:50,320 --> 00:43:53,759
Speaker 2: that because she's got some deadbeat dad on the side. Like,

936
00:43:54,440 --> 00:43:56,120
Speaker 2: we are doing the best that we can, and if

937
00:43:56,160 --> 00:43:58,160
Speaker 2: you are in debt or you're about to go into debt,

938
00:43:58,400 --> 00:44:00,960
Speaker 2: I think it's just more about understanding that sometimes it

939
00:44:01,040 --> 00:44:03,800
Speaker 2: can be a tool, sometimes it is a necessary evil,

940
00:44:04,400 --> 00:44:07,000
Speaker 2: but we're just all doing the best that we can.

941
00:44:07,160 --> 00:44:09,920
Speaker 2: So I think my approach to credit and loans is,

942
00:44:09,960 --> 00:44:12,040
Speaker 2: if you don't have to have them, don't get them.

943
00:44:12,800 --> 00:44:16,120
Speaker 2: I never needed it. You've heard my story. At no

944
00:44:16,280 --> 00:44:18,680
Speaker 2: point did I say, beck I needed it to put

945
00:44:18,800 --> 00:44:21,759
Speaker 2: food on the table. Beck I needed debt to pay

946
00:44:21,840 --> 00:44:23,960
Speaker 2: my rent and put a roof over my head. Beck

947
00:44:24,040 --> 00:44:28,200
Speaker 2: I needed it for my medical costs. Those are completely

948
00:44:28,320 --> 00:44:32,960
Speaker 2: different situations. Mine was all vanity. Mine was I'm going

949
00:44:33,000 --> 00:44:35,560
Speaker 2: overseas and I'm traveling, and I bought a car I

950
00:44:35,680 --> 00:44:37,920
Speaker 2: did not need any of that. I should never have

951
00:44:38,040 --> 00:44:42,280
Speaker 2: gotten into debt. But if my story was, oh, medical costs,

952
00:44:42,480 --> 00:44:44,680
Speaker 2: or I was in hospital for a long time and

953
00:44:44,719 --> 00:44:47,840
Speaker 2: I ended up with a whole heap of debt because

954
00:44:47,840 --> 00:44:49,600
Speaker 2: I had to pay for my rent otherwise I was

955
00:44:49,640 --> 00:44:52,640
Speaker 2: going to lose my house, that's a different story and

956
00:44:52,880 --> 00:44:55,400
Speaker 2: that needs to be treated differently as well. So, no,

957
00:44:55,719 --> 00:44:59,040
Speaker 2: I don't like debt, and my approach is to avoid

958
00:44:59,080 --> 00:45:01,760
Speaker 2: it at all costs. But I also am very aware

959
00:45:01,840 --> 00:45:03,600
Speaker 2: that there are a lot of people in our community

960
00:45:03,640 --> 00:45:06,279
Speaker 2: that use debt and need debt to get by, and

961
00:45:06,520 --> 00:45:09,000
Speaker 2: I see it as my job to educate you on

962
00:45:09,160 --> 00:45:12,279
Speaker 2: how to use it as responsibly as possible and how

963
00:45:12,360 --> 00:45:14,080
Speaker 2: to get out of it when you need to take

964
00:45:14,120 --> 00:45:16,120
Speaker 2: those steps, Like when you're ready, I'm here. I've got

965
00:45:16,160 --> 00:45:17,880
Speaker 2: all the tools and I've got all the resources, and

966
00:45:18,000 --> 00:45:20,560
Speaker 2: I will be your best friend. I'll be your biggest cheerleader.

967
00:45:21,280 --> 00:45:23,080
Speaker 2: But I'm never going to judge you for getting into debt.

968
00:45:23,280 --> 00:45:25,120
Speaker 2: That is so beautiful and so empowering, and I think

969
00:45:25,120 --> 00:45:27,920
Speaker 2: that's a perfect place to leave this if you feel yeah,

970
00:45:27,920 --> 00:45:31,759
Speaker 2: because I would love to stop talking about it. So fair.

971
00:45:32,280 --> 00:45:34,759
Speaker 3: Okay, so you're officially off the hook. Thank you so

972
00:45:34,880 --> 00:45:37,440
Speaker 3: much for letting Usteep dive into how you became debt free.

973
00:45:37,680 --> 00:45:40,600
Speaker 2: I'm always willing to overshare when it comes to hopefully

974
00:45:40,680 --> 00:45:44,480
Speaker 2: benefiting our community. Yeah, thank you. And just to reiterate

975
00:45:44,560 --> 00:45:46,719
Speaker 2: everything that I've been saying, if you're in debt right now,

976
00:45:46,880 --> 00:45:49,400
Speaker 2: please know that it literally does not make you a

977
00:45:49,480 --> 00:45:51,799
Speaker 2: bad person. It does not mean that you are bad

978
00:45:51,880 --> 00:45:54,600
Speaker 2: with money, it doesn't mean you've failed, and it definitely

979
00:45:54,719 --> 00:45:56,720
Speaker 2: does not mean that you can't turn things around.

980
00:45:56,920 --> 00:45:59,000
Speaker 3: We hope this chat gave you the tools, the courage,

981
00:45:59,080 --> 00:46:01,080
Speaker 3: or even just the permission to start tackling your own

982
00:46:01,120 --> 00:46:03,560
Speaker 3: debt without the shame. And of course, if you love

983
00:46:03,640 --> 00:46:05,759
Speaker 3: this episode, please share it with someone who might need it,

984
00:46:06,040 --> 00:46:08,080
Speaker 3: leave us a review, or slide into the comments and

985
00:46:08,120 --> 00:46:08,960
Speaker 3: tell us what you want.

986
00:46:08,840 --> 00:46:11,040
Speaker 2: To hear more of. Bye guys, Bye guys.

987
00:46:17,520 --> 00:46:20,040
Speaker 4: The advice shared on She's on the Money is general

988
00:46:20,120 --> 00:46:23,959
Speaker 4: in nature and does not consider your individual circumstances. She's

989
00:46:24,000 --> 00:46:27,440
Speaker 4: on the Money exists purely for educational purposes and should

990
00:46:27,520 --> 00:46:30,640
Speaker 4: not be relied upon to make an investment or financial decision.

991
00:46:31,040 --> 00:46:33,480
Speaker 4: If you do choose to buy a financial product, read

992
00:46:33,520 --> 00:46:36,800
Speaker 4: the pds TMD and obtain appropriate financial.

993
00:46:36,440 --> 00:46:38,200
Speaker 2: Advice tailored towards your needs.

994
00:46:38,600 --> 00:46:42,520
Speaker 4: Victoria Divine and She's on the Money are authorized representatives

995
00:46:42,600 --> 00:46:46,400
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997
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