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MONEY DIARIES: The Financial Side of Fertility · She's On The Money

• 0:00
  Speaker 1: Hello.
• 0:01
  Speaker 2: My name's Santasha Nabananga Bamblet. I'm a proud Yr the
• 0:05
  Speaker 2: Order Kerney Whoalbury and a waddery woman. And before we
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  Speaker 2: get started on She's on the Money podcast, I would
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  Speaker 2: like to acknowledge the traditional custodians of the land of
• 0:14
  Speaker 2: which this podcast is recorded on a wondery country, acknowledging
• 0:18
  Speaker 2: the elders, the ancestors and the next generation coming through.
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  Speaker 2: As this podcast is about connecting, empowering, knowledge sharing and
• 0:27
  Speaker 2: the storytelling of you to make a difference for today
• 0:31
  Speaker 2: and lasting impact for tomorrow.
• 0:33
  Speaker 1: Let's get into it.
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  Speaker 3: She's on the Money, She's on the Money.
• 0:57
  Speaker 4: Hello, and welcome to She's on the Money, the podcast
• 1:00
  Speaker 4: for millennials who want financial freedom.
• 1:03
  Speaker 1: Welcome back to another one of our Money.
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  Speaker 4: Diary episodes where I get the absolute privilege of sitting
• 1:08
  Speaker 4: down with one of our Shees on the Money community
• 1:10
  Speaker 4: members and talking all about their money story. Let's jump
• 1:14
  Speaker 4: straight into it, because this week I got an email
• 1:17
  Speaker 4: and it went like this.
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  Speaker 1: Hi V.
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  Speaker 4: I'm a twenty nine year old law student and full
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  Speaker 4: time employee in litigation. I'm also a part time bonus
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  Speaker 4: mum dealing with infertility and juggling finances while doing all
• 1:29
  Speaker 4: of that. My partner and I spent ten thousand dollars
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  Speaker 4: for three rounds of IVF, and I really want to
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  Speaker 4: share my experience of the impact that these procedures have
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  Speaker 4: on your finances and on your relationships. Money Darist, welcome
• 1:43
  Speaker 4: to the show. Hello, thank you for having me, No,
• 1:46
  Speaker 4: thank you for wanting to share your story with me.
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  Speaker 4: I'm very excited and very grateful. Do you want to
• 1:51
  Speaker 4: dive straight in?
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  Speaker 5: Yeah, let's go for it, all right.
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  Speaker 4: First question, as always, is if I asked you to
• 1:58
  Speaker 4: give your money habits a grade from A through to F,
• 2:00
  Speaker 4: what would you grade your money habits?
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  Speaker 5: So I gave this a lot of thought, and I
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  Speaker 5: think I've settled on a B minus.
• 2:08
  Speaker 1: A B minus. All right, let's get into it.
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  Speaker 4: My favorite question, which comes as no surprise to anyone,
• 2:16
  Speaker 4: is money. Durist, can you tell me a little bit
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  Speaker 4: more about your money story.
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  Speaker 1: Yeah.
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  Speaker 5: So, I grew up in a family where money was
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  Speaker 5: never really something that was discussed, but it was also
• 2:28
  Speaker 5: never really something that was an issue. We were very
• 2:32
  Speaker 5: much thoroughly middle class, which I think really impacted me
• 2:37
  Speaker 5: when I finally moved out of home and went to
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  Speaker 5: UNI because I remember very clearly the first time I
• 2:44
  Speaker 5: had twenty dollars in my bank account and I went,
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  Speaker 5: what am I going to do? What am I going
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  Speaker 5: to do for food? And I ended up working two
• 2:54
  Speaker 5: jobs at a time and pulling it together. But that
• 2:57
  Speaker 5: was a really big turning point for me was learning
• 3:02
  Speaker 5: how to actually do a budget for the first time,
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  Speaker 5: because I never had to budget before.
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  Speaker 1: No, totally.
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  Speaker 4: And money's hard and you don't realize it's hard until
• 3:10
  Speaker 4: you're on your own with it, Yes.
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  Speaker 5: Exactly, because before I could always rely on my parents
• 3:16
  Speaker 5: to bail me out when I spent my you know,
• 3:19
  Speaker 5: fifty dollars pay check from working at the Chicken Shop
• 3:22
  Speaker 5: on lip gloss. You know.
• 3:24
  Speaker 1: Oh, I love that. That's so relatable.
• 3:26
  Speaker 4: I liked with the ice cream shop which was just
• 3:28
  Speaker 4: down from the Chicken Shop, and I was going to
• 3:30
  Speaker 4: Priceline and buying all my lip glosses when I had
• 3:33
  Speaker 4: free time.
• 3:34
  Speaker 1: Yeah, one hundred percent.
• 3:35
  Speaker 4: Lipschmackers had them all, like the glossy ones. Though, because
• 3:39
  Speaker 4: obviously I'm not a child, I didn't just have the
• 3:41
  Speaker 4: barm Ones.
• 3:42
  Speaker 5: No, No, the barm Ones with the little crystal lids.
• 3:45
  Speaker 4: Oh yeah, those were bougie, but the glitter in them
• 3:47
  Speaker 4: was too gritty.
• 3:48
  Speaker 5: Yes, yes, yeah, exactly, same page, same That's why.
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  Speaker 1: It doesn't exist anymore.
• 3:53
  Speaker 4: It's got nothing to do with the fact that times
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  Speaker 4: have changed, and everything to do with that was a
• 3:57
  Speaker 4: flaw in their product.
• 3:59
  Speaker 5: Yeah, but they could have marketed it as an exfoliant
• 4:01
  Speaker 5: and then consult.
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  Speaker 1: I had a blue one, so I'm glad they were
• 4:05
  Speaker 1: on the same.
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  Speaker 5: Page very much.
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  Speaker 4: So you became an adult and you had your first
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  Speaker 4: twenty dollars?
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  Speaker 1: What then happened? You went to UNI? Take us all
• 4:14
  Speaker 1: the way through to the age of twenty nine.
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  Speaker 5: Okay, So I went to UNI originally when I was
• 4:19
  Speaker 5: seventeen years old and I didn't really know what I
• 4:23
  Speaker 5: wanted to do. I said, what makes me sound smart
• 4:26
  Speaker 5: and employable? And I decided to do journalism. Then my
• 4:30
  Speaker 5: first day of my journalism cause, the lecturer stood up
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  Speaker 5: and said, journalism is a dying profession. You have two
• 4:38
  Speaker 5: weeks till the census date. I suggest you consider doing
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  Speaker 5: something else.
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  Speaker 4: Ah cool, I guess I see myself out, sir nice.
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  Speaker 1: And so were you like me?
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  Speaker 4: And you well like see you in hell and kept
• 4:53
  Speaker 4: doing it? Or did you change I did.
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  Speaker 1: For a little bit.
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  Speaker 5: I did, and then I promptly fell into a pretty
• 4:59
  Speaker 5: bad loop of anxiety and depression and that was the
• 5:04
  Speaker 5: end for me. I was like, you know what, we're done.
• 5:07
  Speaker 5: We're going to take a break, We're going to focus
• 5:09
  Speaker 5: on ourselves. And I ended up working a few different jobs,
• 5:13
  Speaker 5: working in retail, and then I eventually moved into the
• 5:18
  Speaker 5: public service, where I started my career as a criminal investigator.
• 5:24
  Speaker 4: Oh wow, yeah, a bit of a like left term.
• 5:27
  Speaker 4: I just started my career there. That's all good, first normal.
• 5:30
  Speaker 1: But it was through.
• 5:32
  Speaker 5: That role, where I started doing investigations and working more
• 5:36
  Speaker 5: in regulation, that I discovered my passion for law. So
• 5:41
  Speaker 5: I left the public service and I'm now in a
• 5:44
  Speaker 5: litigation team and a private law firm.
• 5:46
  Speaker 1: Oh that sounds so fancy, and you're still just in
• 5:49
  Speaker 1: your twenties.
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  Speaker 5: Yeah, well, yes, I'm still in the process of getting
• 5:53
  Speaker 5: my law degree. But you know, we'll get their direction
• 5:56
  Speaker 5: is more important than speed.
• 5:58
  Speaker 4: I love that. That is very, very true. So tell
• 6:00
  Speaker 4: me a bit more about your personal life. So obviously
• 6:03
  Speaker 4: you've got bougie job, You've had some very fancy experiences.
• 6:08
  Speaker 4: But when you wrote in you said, I'm also a
• 6:10
  Speaker 4: part time bonus mom. Yes, about that, and then I
• 6:13
  Speaker 4: want to talk about infertility because we don't talk about
• 6:16
  Speaker 4: that enough.
• 6:17
  Speaker 5: Yes, one hundred. My stepdaughter is pretty much the coolest
• 6:23
  Speaker 5: person in the world. I know it's kind of lame
• 6:27
  Speaker 5: to talk about it like that, but she's so confident
• 6:31
  Speaker 5: and funny and bubbly and she just she just does
• 6:36
  Speaker 5: not let anything hold her back and it's just really cool.
• 6:40
  Speaker 5: I don't know, she's such a cool I love that, man,
• 6:42
  Speaker 5: I love that so much. Yeah.
• 6:44
  Speaker 4: I feel like all step daughters deserve their future step
• 6:48
  Speaker 4: moms or current step moms to have that same amount
• 6:50
  Speaker 4: of energy for them.
• 6:52
  Speaker 1: Yeah.
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  Speaker 5: Well, I met her dad through work when we were
• 6:55
  Speaker 5: working together as investigators. It was very like office romance.
• 6:59
  Speaker 5: It was god chairs. And then when I decided, you know,
• 7:05
  Speaker 5: I was like, Ah, this man's gonna be my husband
• 7:08
  Speaker 5: and I'm gonna, you know, do the step mom thing.
• 7:11
  Speaker 5: I kind of really sat down with that and was like, well,
• 7:13
  Speaker 5: I'm gonna take it really seriously because she deserves, like
• 7:17
  Speaker 5: she didn't choose this circumstance, and she deserves one hundred
• 7:22
  Speaker 5: percent of my effort. If I'm gonna do it, I'm
• 7:24
  Speaker 5: gonna do it right, So I kind of just jumped
• 7:26
  Speaker 5: in feet first and it worked out really well somehow.
• 7:30
  Speaker 1: Clearly I love that.
• 7:32
  Speaker 4: And then you and your husband, you've been trying to
• 7:35
  Speaker 4: become second time parents.
• 7:37
  Speaker 5: Yes, so I have a fertility issue, which is called
• 7:43
  Speaker 5: primary ovarian failure or primary ovarian insufficiency. So essentially what
• 7:48
  Speaker 5: that means is I'm perimenopausal at twenty nine.
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  Speaker 1: So that's so hard.
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  Speaker 5: Yeah, it's kind of a big thing to come to
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  Speaker 5: terms with. We started going through the IVF and the
• 8:05
  Speaker 5: IUI procedures and getting all of those ducks in a row,
• 8:09
  Speaker 5: because even getting to the point of the actual fertility
• 8:14
  Speaker 5: procedure is so long, Like you have to do so
• 8:17
  Speaker 5: many tests and there's so many hurdles. And we actually
• 8:21
  Speaker 5: felt pregnant in November last year, but we miscarried at
• 8:26
  Speaker 5: the start of the year in about January.
• 8:28
  Speaker 1: I did too, That's exactly my timeline.
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  Speaker 5: I'm sorry.
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  Speaker 1: It sucks.
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  Speaker 4: Yeah, I know that is so bad. I'm so sorry
• 8:35
  Speaker 4: that you went through that. It's the shittiest club to
• 8:38
  Speaker 4: be involved in ever.
• 8:40
  Speaker 5: Yeah, I know. But I will say, actually, like, and
• 8:43
  Speaker 5: I hope this isn't like two kind of like, but
• 8:46
  Speaker 5: when I saw you posting about your experiences at the
• 8:50
  Speaker 5: same time I was going through it. It was kind
• 8:52
  Speaker 5: of really nice.
• 8:53
  Speaker 1: Oh I'm so glad because that's why I did it.
• 8:56
  Speaker 4: I feel like there were lots of people and you
• 8:58
  Speaker 4: know what, miscarriages sutn't underspoken about topic. And the more
• 9:05
  Speaker 4: I spoke about it, the more I realize. I know,
• 9:07
  Speaker 4: it's one in four, but when you start talking about it,
• 9:10
  Speaker 4: you just feel like it's like everyone's doing it.
• 9:13
  Speaker 5: Everyone's got a story.
• 9:14
  Speaker 4: I swear every single person that I spoke to would
• 9:18
  Speaker 4: be like, oh yeah, me too, or oh my sister,
• 9:21
  Speaker 4: oh my thing, like everyone had a story. And I
• 9:23
  Speaker 4: was like, well, why didn't I know this before I
• 9:25
  Speaker 4: was going through this? And this felt so lonely. Why
• 9:27
  Speaker 4: didn't I know this going in? Because I just thought
• 9:30
  Speaker 4: it was locked and loaded the second I got a
• 9:31
  Speaker 4: positive pregnancy test, right, Like, I just thought that that's
• 9:35
  Speaker 4: how it worked, right, Like I'm healthy, I'm okay, I'm
• 9:38
  Speaker 4: not in a circumstance like you. I just thought it
• 9:40
  Speaker 4: was going to be perfect, and unfortunately that's not the circumstance,
• 9:44
  Speaker 4: and like that's okay. But I think talking about it
• 9:47
  Speaker 4: makes it so much easier because if I share my
• 9:50
  Speaker 4: load and you share it with yours, I know that
• 9:52
  Speaker 4: I'm not alone, and I know that I'm not the
• 9:55
  Speaker 4: only one to go through this. And you know, it's
• 9:57
  Speaker 4: not a reflection of me being a terrible mum. It's
• 10:00
  Speaker 4: actually got nothing to do with that. And I think
• 10:02
  Speaker 4: a lot of the time we blame ourselves for not
• 10:05
  Speaker 4: doing something, or doing something wrong, or messing it up somehow,
• 10:08
  Speaker 4: and that's not the case at all, Absolutely not the case.
• 10:11
  Speaker 5: No, but sometimes you need someone externally to give you
• 10:14
  Speaker 5: that reminder.
• 10:15
  Speaker 1: One hundred percent.
• 10:16
  Speaker 4: So you went through three rounds of IVF how to miscarriage, Yes,
• 10:21
  Speaker 4: that's bullshit.
• 10:23
  Speaker 1: What happened next?
• 10:25
  Speaker 5: So essentially we're at the point now where we need
• 10:30
  Speaker 5: to look at using donor conception and using donor eggs.
• 10:36
  Speaker 5: So we did the three rounds of IVF. We spent
• 10:39
  Speaker 5: about ten thousand dollars getting that all together, and that's
• 10:44
  Speaker 5: including things like interstate travel, hotels, accommodation. Because and this
• 10:51
  Speaker 5: is something I did not know until I started getting
• 10:53
  Speaker 5: into this, is that where I am in the act,
• 10:59
  Speaker 5: there's no bulk build IVF clinics.
• 11:03
  Speaker 1: What really, Yes, So if you're.
• 11:06
  Speaker 5: In the act, you have to travel to Sydney to
• 11:09
  Speaker 5: be able to access bulk build IVF. So a bulk
• 11:13
  Speaker 5: build IVF round is about three thousand dollars a cycle,
• 11:17
  Speaker 5: where a private clinic IVF round is about ten thousand.
• 11:20
  Speaker 1: Dollars a cycle.
• 11:20
  Speaker 4: That's an insane amount of differences. And obviously that's the
• 11:23
  Speaker 4: difference between you being able to do one round and
• 11:26
  Speaker 4: three and three is what led to your pregnancy, right and.
• 11:29
  Speaker 5: Yeah, oh my gosh, it's crazy. But yeah, so the
• 11:33
  Speaker 5: next step for us is looking at donor conception. So
• 11:38
  Speaker 5: we're very lucky that the clinic that we are going
• 11:41
  Speaker 5: through in Sydney they've actually just recently introduced known donor
• 11:46
  Speaker 5: conception services in their bulk build rounds. Yeah, so we
• 11:49
  Speaker 5: got very lucky with timing because it's really again just
• 11:54
  Speaker 5: the price difference, like to be able to do a
• 11:56
  Speaker 5: bulk build round with the in a program coordination fees,
• 12:02
  Speaker 5: the costs associated with IVF cycles in general. Keep in
• 12:06
  Speaker 5: mind you're basically doing it with two people, so I
• 12:09
  Speaker 5: would be having IVF medication, my donor would be having
• 12:13
  Speaker 5: IVF medication.
• 12:14
  Speaker 1: All of that.
• 12:15
  Speaker 5: It's about maybe five thousand dollars a cycle.
• 12:19
  Speaker 4: I mean, that's not as bad as it could be,
• 12:21
  Speaker 4: but I mean the idea that it could be more
• 12:23
  Speaker 4: fruitful as well gives me a lot of hope.
• 12:26
  Speaker 5: Yes, yes, and again the private clinic is about fifteen
• 12:30
  Speaker 5: thousand dollars a cycle.
• 12:31
  Speaker 1: Oh my gosh.
• 12:32
  Speaker 4: So how did you learn so much about the difference
• 12:35
  Speaker 4: between public and private? Because I feel like fertility and
• 12:39
  Speaker 4: going through this is so convoluted. I know a lot
• 12:42
  Speaker 4: about it here in Melbourne because I've been going through
• 12:44
  Speaker 4: the processes myself to make sure that I will be
• 12:47
  Speaker 4: able to have a healthy pregnancy. But looking at the
• 12:50
  Speaker 4: price differences, like I just I'm shocked at the differences
• 12:55
  Speaker 4: even between private clinics and what that looks like and
• 12:58
  Speaker 4: how that works, and the wait lists in Victoria for
• 13:02
  Speaker 4: the public system to me are insane. So how did
• 13:05
  Speaker 4: you navigate this when going head in?
• 13:08
  Speaker 5: I am very fortunate that I had someone very close
• 13:11
  Speaker 5: to me who had gone through. My cousin had gone
• 13:15
  Speaker 5: through six rounds of IVF to have her little girl.
• 13:18
  Speaker 1: Oh my gosh.
• 13:19
  Speaker 5: Yeah, so she was a really really good resource to
• 13:24
  Speaker 5: me personally. If anyone is looking at IVF as well.
• 13:30
  Speaker 5: There was a reality show recently, was there. It's called
• 13:34
  Speaker 5: Big Miracles.
• 13:35
  Speaker 4: Oh I saw that, and then I blocked it out
• 13:37
  Speaker 4: completely because I didn't want anything baby related in my life. Yeah,
• 13:41
  Speaker 4: so it turned off the TV. But I'm glad it
• 13:43
  Speaker 4: was good.
• 13:43
  Speaker 5: Yes. No, I did the exact same thing because it
• 13:46
  Speaker 5: aired when it was still a little bit too close
• 13:48
  Speaker 5: to home for me after my fast courage, and I went, no, thanks, thanks, bye,
• 13:55
  Speaker 5: I don't care about your big miracle. Yeah, enjoy your baby. Ah.
• 14:00
  Speaker 5: But I end up going back and rewatching it recently.
• 14:03
  Speaker 1: Oh, I'm glad. It's really really.
• 14:05
  Speaker 5: Helpful resource as well. So that's a really good place.
• 14:10
  Speaker 5: But I think a lot of it just comes down
• 14:12
  Speaker 5: to independent research because, as you said, even between the
• 14:16
  Speaker 5: private clinics like Jeneia just costs so much. Their price
• 14:21
  Speaker 5: is so different to IVF Australia or you know, it's
• 14:25
  Speaker 5: really just about digging in and taking the free consultations
• 14:28
  Speaker 5: and working out what's going to be best for you
• 14:30
  Speaker 5: and your individual circumstances.
• 14:32
  Speaker 4: It's so time intensive as well. Like doing all of that,
• 14:37
  Speaker 4: I just my heart goes out to you because I'm
• 14:39
  Speaker 4: just like, oh, this must be such a stressful process
• 14:42
  Speaker 4: and it must be really hard, but I want to
• 14:45
  Speaker 4: know a bit more about I guess your feelings towards this.
• 14:47
  Speaker 4: You seem really positive, Like I talked to so many
• 14:50
  Speaker 4: people about topics like this all the time, and it's
• 14:54
  Speaker 4: not as upbeat when you have this conversation, Like you
• 14:57
  Speaker 4: seem to be a very very similar mindset to me
• 14:59
  Speaker 4: where you.
• 15:00
  Speaker 1: Like, you know what it was? Shit, it was awful.
• 15:03
  Speaker 1: I hated every second of it.
• 15:04
  Speaker 4: I wouldn't wish it on anybody, but also it is
• 15:07
  Speaker 4: what it is, and I will move on. Is that
• 15:09
  Speaker 4: where you're at, Like, how have you managed this? How
• 15:12
  Speaker 4: have you dealt with all of it? Because it is
• 15:13
  Speaker 4: really heavy.
• 15:14
  Speaker 5: Yes, first and foremost, I would like to shout out
• 15:17
  Speaker 5: my therapist. She's done a lot of the heavy lifting,
• 15:20
  Speaker 5: so we really appreciate her. She's done a great work.
• 15:26
  Speaker 5: But yeah, I think it was The DNC was probably
• 15:30
  Speaker 5: the single worst experience of my entire life. And at
• 15:34
  Speaker 5: the end of the day, it sucked and it was
• 15:37
  Speaker 5: horrible and it's not something I would ever ever wish
• 15:40
  Speaker 5: anyone to experience, but I can't change it. Yeah, and
• 15:46
  Speaker 5: you know, the Doner route, it's not anyone's first choice,
• 15:50
  Speaker 5: but it's the cards that I've been dealt with. My
• 15:55
  Speaker 5: body and there's no point trying to be angry at
• 15:58
  Speaker 5: my body because it's done a lot of good things
• 16:00
  Speaker 5: for me too, to keep me safe and keep me
• 16:02
  Speaker 5: healthy and keep me going.
• 16:04
  Speaker 1: But yeah, I don't know. It's hard.
• 16:07
  Speaker 5: It's hard.
• 16:08
  Speaker 1: Yeah.
• 16:09
  Speaker 4: No, No, I'm really proud of you that I feel
• 16:12
  Speaker 4: like you are on the right track doing good things.
• 16:14
  Speaker 1: And I can tell you're going to be the best mum.
• 16:17
  Speaker 1: Like it's coming. It's coming. That's so exciting.
• 16:21
  Speaker 5: Yes, put it into the universe. It'll come true.
• 16:23
  Speaker 1: I put everything into the universe, I promise. All right.
• 16:27
  Speaker 1: I want to know now.
• 16:28
  Speaker 4: I want to need to know a bit more. You
• 16:29
  Speaker 4: said that you work in full time litigation. So what
• 16:33
  Speaker 4: does that mean and how much do you earn?
• 16:35
  Speaker 5: Yeah, so I earn about ninety seven thousand dollars a year. Oh,
• 16:40
  Speaker 5: big dog, big dog energy.
• 16:42
  Speaker 1: Will fourth?
• 16:42
  Speaker 5: Please don't put that in the podcast.
• 16:43
  Speaker 1: Hope it's staying in. It's staying in. I'm keeping it. No,
• 16:50
  Speaker 1: I am the producer.
• 16:52
  Speaker 4: No you can get out, No, nope, I'm keeping it.
• 16:56
  Speaker 1: I loved it.
• 16:58
  Speaker 5: Yeah. So I I am a legal secretary in a
• 17:02
  Speaker 5: litigation practice in a private law firm. So that means
• 17:07
  Speaker 5: that our primary clients are Commonwealth government agencies, and we
• 17:13
  Speaker 5: represent the Commonwealth government agencies in litigation when other parties
• 17:19
  Speaker 5: initiate litigation against Yeah, so we represent the government when
• 17:25
  Speaker 5: they get suit. Basically yeah, yeah, cool, yeah, how fun?
• 17:29
  Speaker 1: Is that real? Spicy?
• 17:30
  Speaker 4: Obviously you're going to have signed an NDA, so you
• 17:33
  Speaker 4: can't tell me any spicy stories.
• 17:34
  Speaker 1: But I'm sure you can tell me whether it is
• 17:36
  Speaker 1: spicy or not.
• 17:37
  Speaker 5: All my the spice levels are through the roof some
• 17:41
  Speaker 5: of the goths.
• 17:42
  Speaker 1: See, that's why I should have worked in law. I
• 17:43
  Speaker 1: should have worked in law for the gossip.
• 17:45
  Speaker 5: Honestly, I think that's why I'm becoming a lawyer is
• 17:48
  Speaker 5: because the tea is so hot.
• 17:52
  Speaker 4: As long as you're not sharing it's exactly, it's good.
• 17:55
  Speaker 4: Just keep that to yourself, and then when you're at
• 17:57
  Speaker 4: the supermarket and that person walks past, you could be like,
• 18:00
  Speaker 4: I know something you don't know.
• 18:02
  Speaker 5: Yeah, yeah, ye, yeah, it's great. It's honestly, it's it's
• 18:05
  Speaker 5: so good. But yeah, some of the gossip incredible. And
• 18:09
  Speaker 5: it's also really helpful as well, because I am in
• 18:12
  Speaker 5: the process of getting my law degree, so being able
• 18:15
  Speaker 5: to work full time in a private firm in that
• 18:18
  Speaker 5: litigation space.
• 18:19
  Speaker 4: And getting that exposure before you actually jump in. That's
• 18:22
  Speaker 4: really cool.
• 18:23
  Speaker 5: And all the networking, all the contacts.
• 18:25
  Speaker 4: Oh I love that for you. Yeah, all right, I
• 18:29
  Speaker 4: want to know next, what is your big money goal?
• 18:30
  Speaker 4: What are you currently working towards?
• 18:33
  Speaker 5: So currently we have two big money goals. Our first
• 18:37
  Speaker 5: is to save a deposit to buy our own house,
• 18:40
  Speaker 5: and our second is to save up a bit more
• 18:43
  Speaker 5: money so we can commence some further IVF rounds using
• 18:46
  Speaker 5: an egg downer.
• 18:47
  Speaker 1: Oh how exciting? Do you have timelines on either of
• 18:51
  Speaker 1: those goals?
• 18:52
  Speaker 5: So we should be able to purchase a house late
• 18:57
  Speaker 5: next year, so we're looking about November December next year
• 19:01
  Speaker 5: we'll be able to buy and then hopefully we'll be
• 19:04
  Speaker 5: able to start IVF. You visiting an egg donor just
• 19:09
  Speaker 5: after that?
• 19:10
  Speaker 1: So exciting.
• 19:12
  Speaker 5: Yeah, I have someone who's agreed to be an egg
• 19:14
  Speaker 5: donor for me.
• 19:15
  Speaker 1: Actually, yeah, that's so special.
• 19:18
  Speaker 5: Yeah my cousin.
• 19:19
  Speaker 1: Oh no, that's so special because.
• 19:22
  Speaker 5: Then we have at least a genetic bond.
• 19:25
  Speaker 1: Yeah, no, I love that so much.
• 19:26
  Speaker 5: Yeah, she's been through so much with her IVF journey
• 19:29
  Speaker 5: that she was like, let's do it. But she's just
• 19:31
  Speaker 5: given birth, so she wants to wait about eighteen months, which.
• 19:35
  Speaker 1: Is so fair, totally fair.
• 19:37
  Speaker 5: So that takes the pressure off a bit.
• 19:40
  Speaker 4: Yeah, time to set up, time to plan. Oh my gosh,
• 19:43
  Speaker 4: I'm so excited for you. That's such a special connection
• 19:45
  Speaker 4: that you guys will have.
• 19:47
  Speaker 1: How awesome.
• 19:48
  Speaker 4: All right, I have a million more questions. I'm going
• 19:51
  Speaker 4: to go to a really quick break. But on the
• 19:52
  Speaker 4: flip side, I want to know about your investments. I
• 19:54
  Speaker 4: want to know about your good money habits, your bad
• 19:56
  Speaker 4: money habits, and if you have any debts.
• 19:59
  Speaker 1: So guys don't go anywhere.
• 20:05
  Speaker 4: All right, money Diarist, We are back, and I am
• 20:08
  Speaker 4: loving this chat. I feel like it's so open, so honest,
• 20:11
  Speaker 4: so raw, but also like we just think we're really
• 20:13
  Speaker 4: funny this whole entire time.
• 20:15
  Speaker 1: So solid ten out of ten us. But talk to me.
• 20:18
  Speaker 1: Do you have any investments, If so, what are they.
• 20:21
  Speaker 5: So I'm in the process of growing my spaceship portfolio.
• 20:26
  Speaker 5: So I've got roughly about one thousand dollars in Spaceship
• 20:30
  Speaker 5: and I've got ninety six thousand dollars in Super.
• 20:33
  Speaker 4: Oh how do you have so much in Super? That's
• 20:36
  Speaker 4: a flex at twenty nine?
• 20:38
  Speaker 5: Yeah, No, I got really into this money podcast. I
• 20:43
  Speaker 5: don't know if you've heard of it. It's called Money
• 20:45
  Speaker 5: Sounds Trash. Yeah, And I started doing some salary sacrificing
• 20:51
  Speaker 5: into my super account and really bumped it up, so
• 20:54
  Speaker 5: I've been able to really contribute into that with the
• 20:56
  Speaker 5: view of using some of those additional contributions to help
• 21:00
  Speaker 5: fund our house deposit through the first.
• 21:02
  Speaker 1: Oh, how good is that? How long have you been
• 21:06
  Speaker 1: doing that?
• 21:07
  Speaker 5: Probably about a year and a half, almost two years now. Yeah,
• 21:12
  Speaker 5: And they've just increased the cap as well, which is
• 21:14
  Speaker 5: how they did.
• 21:15
  Speaker 4: It's now fifty thousand dollars instead of thirty thousand dollars,
• 21:18
  Speaker 4: which goes a lot further, like thirty thousand dollars is
• 21:21
  Speaker 4: not enough, and I mean fifty thousand dollars in most
• 21:23
  Speaker 4: places is not enough either, but it definitely takes the
• 21:26
  Speaker 4: pressure off. And I did all of the maths, and
• 21:28
  Speaker 4: you end up on a marginal tax rate of thirty
• 21:30
  Speaker 4: two point five cents in every dollar, nearly ten thousand
• 21:33
  Speaker 4: dollars better off by using the scheme, which is a
• 21:36
  Speaker 4: money win, massive money win, and most people are actually
• 21:40
  Speaker 4: on that thirty two point five cents in the dollar.
• 21:43
  Speaker 4: If you have a higher marginal tax rate. My friend,
• 21:45
  Speaker 4: you are actually even better off because the more tax
• 21:48
  Speaker 4: you're paying, the more you're saving by using the first
• 21:50
  Speaker 4: time super Savior scheme. So money win for everybody. Tell
• 21:54
  Speaker 4: me how you started contributing to that for the first
• 21:57
  Speaker 4: home super Savior scheme though? Did you contact your super
• 22:00
  Speaker 4: fund and explain yourself or did you just start be
• 22:03
  Speaker 4: paying it over or like?
• 22:05
  Speaker 1: What was the process?
• 22:06
  Speaker 5: Yeah? So I actually sat down about eighteen months ago
• 22:10
  Speaker 5: and reviewed my whole financial situation.
• 22:14
  Speaker 1: Very sexy.
• 22:15
  Speaker 4: I like that.
• 22:15
  Speaker 5: I know it's very hot. My husband and I have
• 22:18
  Speaker 5: monthly financial date nights, turn out a ten yeah, a
• 22:21
  Speaker 5: bottle of Aldi wine and a Domino's pizza, and our
• 22:24
  Speaker 5: life has never been back.
• 22:25
  Speaker 1: Whim money, whim right? Which Audi wine? Though?
• 22:29
  Speaker 5: The rose obviously?
• 22:31
  Speaker 1: The La Mule, Yes, an elite choice see obviously.
• 22:35
  Speaker 5: But yes, So I sat down, I reviewed my super
• 22:39
  Speaker 5: funds performance. I decided I wasn't happy with the way
• 22:42
  Speaker 5: they were performing in the fees I was paying. So
• 22:44
  Speaker 5: I kicked them to the curve, called around and spoke
• 22:48
  Speaker 5: to my now super fund and said, this is my goal,
• 22:51
  Speaker 5: this is where I want to be. I'm looking at
• 22:53
  Speaker 5: joining What can you do for me, and they set
• 22:56
  Speaker 5: me up with one of their financial planners and they
• 22:59
  Speaker 5: sat down with me and said, if you join our
• 23:01
  Speaker 5: super scheme, this is what we can do, this is
• 23:04
  Speaker 5: how we can do it.
• 23:06
  Speaker 1: And I was like, sure, how cool.
• 23:08
  Speaker 5: Yeah, they were really really helpful and I just be
• 23:11
  Speaker 5: pay at the end of each financial year, I do
• 23:14
  Speaker 5: a big bulk.
• 23:15
  Speaker 4: Can I be real pervy? So you did all your research,
• 23:18
  Speaker 4: who did you decide to go with? Not so I
• 23:19
  Speaker 4: can share my opinion. I'm just real pervy, you know.
• 23:21
  Speaker 4: I just want to know where you picked and why.
• 23:24
  Speaker 4: So I ended up going with UNI super and why.
• 23:27
  Speaker 5: Previously I was with the Public Sector Superannuation Fund and PSSAP.
• 23:33
  Speaker 5: They were good, but their fees were is astronomical compared
• 23:38
  Speaker 5: to UNI seeper. UNI seper was performing on average better
• 23:42
  Speaker 5: and I know past performers blah blah blah blah blah.
• 23:45
  Speaker 5: I know, but they on average performed better over the
• 23:49
  Speaker 5: last five ten years and their fees were about half cool.
• 23:54
  Speaker 5: So I was like, let's go. Why would I not
• 23:57
  Speaker 5: want to pay less to get if not but better results.
• 24:02
  Speaker 4: So you mentioned before that they set you up with
• 24:05
  Speaker 4: a financial advisor, and I know that's a service they provide.
• 24:08
  Speaker 4: But a lot of people listening and know what did
• 24:10
  Speaker 4: you pay for that? Was that a paid service when
• 24:13
  Speaker 4: you sat down with your financial advisor from UNI super?
• 24:16
  Speaker 5: No? No, it was absolutely free and it's something that
• 24:19
  Speaker 5: all super funds, oh maybe not all, most most super funds, yeah,
• 24:23
  Speaker 5: offer and it was really helpful. They also had a
• 24:27
  Speaker 5: bunch of really good resources. They do webinars, they have ebooks,
• 24:32
  Speaker 5: and you can access a free financial advisor through them
• 24:35
  Speaker 5: a couple of times a year.
• 24:37
  Speaker 1: Money win, Yeah, money win.
• 24:39
  Speaker 5: Who doesn't want to be set up for retirement?
• 24:42
  Speaker 4: I mean lots of people because they just want to
• 24:44
  Speaker 4: bury their heads in the sand, But not you, by
• 24:46
  Speaker 4: the sounds of it.
• 24:46
  Speaker 1: Which I think is very very good.
• 24:48
  Speaker 5: Thank you.
• 24:50
  Speaker 4: So you've got your spaceship and then you've got your
• 24:52
  Speaker 4: ninety seven thousand dollars in super it's going to be
• 24:55
  Speaker 4: used towards your first home super Savior scheme.
• 24:57
  Speaker 1: Let's bring down the mood. Do you have any debt?
• 24:59
  Speaker 5: I am con human, debt free, very sexy, Thank you.
• 25:02
  Speaker 5: I do have a hex stat which is roughly about
• 25:05
  Speaker 5: twenty thousand dollars, and by the time I finish my
• 25:09
  Speaker 5: law degree, it's probably gonna be sitting a little bit
• 25:13
  Speaker 5: higher up, closer to about the sixty grandmark.
• 25:16
  Speaker 1: That's all right.
• 25:18
  Speaker 5: Yeah, look, when I'm earning the big bucks as a partner,
• 25:20
  Speaker 5: It'll be worth it.
• 25:21
  Speaker 4: It'll be fine, and you're paid off in no time.
• 25:24
  Speaker 4: And be honest, a lot of my clients when I
• 25:26
  Speaker 4: was a financial advisor used to be lawyers, and because
• 25:29
  Speaker 4: they have such high incomes, they smash their hex stets
• 25:32
  Speaker 4: off really really quickly, and I used to be very
• 25:34
  Speaker 4: envious of that.
• 25:35
  Speaker 5: Ah, good to know.
• 25:37
  Speaker 1: Yeah, so it is something definitely to look forward to.
• 25:41
  Speaker 4: Yes, I want to know now, though, what do you
• 25:43
  Speaker 4: think is your best money habit?
• 25:46
  Speaker 5: My best money habit is that my cash flow system
• 25:50
  Speaker 5: is completely automated, So everything is set up, the money
• 25:55
  Speaker 5: hits the bank accounts, it gets transferred where it needs
• 25:59
  Speaker 5: to go, and I don't have to check my bank
• 26:02
  Speaker 5: account at all. It's all completely automated and ready to go.
• 26:07
  Speaker 1: How did you do that? That sounds like some wizard stuff.
• 26:11
  Speaker 5: The budget and cash Flow Masterclass. Oh I feel like
• 26:14
  Speaker 5: I'm just like spreaking you at the moment, Like I'm.
• 26:18
  Speaker 4: Really enjoying this conversation for incredibly selfish reasons.
• 26:21
  Speaker 1: I was about to be like how did you automate
• 26:23
  Speaker 1: it all?
• 26:23
  Speaker 4: Like I'm genuinely interested, though, can you tell me, like,
• 26:27
  Speaker 4: how did you set it up to work for you?
• 26:29
  Speaker 4: Because obviously, in my Budget and cash Flow master Class, there's,
• 26:33
  Speaker 4: you know, a set standard, but it doesn't tell you
• 26:35
  Speaker 4: like which bank to go with because that would be illegal,
• 26:37
  Speaker 4: And it doesn't tell you you know, where you should
• 26:40
  Speaker 4: actually put your money when it comes to the actual product.
• 26:43
  Speaker 1: How did you decide that and make sure it worked
• 26:45
  Speaker 1: for you?
• 26:46
  Speaker 5: Yeah, So my personal bank account, I am with UP
• 26:50
  Speaker 5: because that works for me and I love being able
• 26:53
  Speaker 5: to have lots of individual sinking funds and all that
• 26:56
  Speaker 5: kind of stuff, whereas my husband is with a different bane.
• 27:00
  Speaker 5: So primarily we have a two up account and our
• 27:04
  Speaker 5: paychecks both hit the account and then from there we
• 27:08
  Speaker 5: are able to automatically transfer money. So he gets his
• 27:13
  Speaker 5: spending money portion sent off to his bank account, mine
• 27:16
  Speaker 5: gets sent off to mine, and then each of our
• 27:18
  Speaker 5: savers gets transferred to And we also added in some
• 27:22
  Speaker 5: additional transfers into that Budget and cash Flow master Class,
• 27:26
  Speaker 5: things like we have a savings account set up for
• 27:29
  Speaker 5: my stepdaughter so when she turns sixteen, she'll have ten
• 27:32
  Speaker 5: thousand dollars.
• 27:33
  Speaker 1: Oh my gosh. Yeah, she's set up for life.
• 27:36
  Speaker 5: Yeah, well the goal is she her current goal in life?
• 27:41
  Speaker 5: Keep in mind she's seven and yeah that's okay. We
• 27:44
  Speaker 5: love an aspirational queen. She wants to be a marine
• 27:47
  Speaker 5: biologist and move to the beach.
• 27:49
  Speaker 1: Oh my gosh.
• 27:50
  Speaker 5: Yeah, so we're like ten thousand dollars. She can pack up,
• 27:52
  Speaker 5: she can move to UNI.
• 27:54
  Speaker 1: She's got way more aspiration than me.
• 27:56
  Speaker 4: When I was seven years old, I'm pretty sure I
• 27:58
  Speaker 4: would have been in like grade one or two and
• 28:00
  Speaker 4: they did a career's day and they said what do
• 28:01
  Speaker 4: you want to be? And I said I wanted to
• 28:03
  Speaker 4: be a cleaner because my mum says she likes it
• 28:05
  Speaker 4: when I help her around the house. And I mean,
• 28:07
  Speaker 4: there's absolutely nothing wrong with becoming a cleaner, But you know,
• 28:11
  Speaker 4: I feel like.
• 28:11
  Speaker 1: I've done a few more things, you know. Yeah.
• 28:13
  Speaker 5: Well look when I was her age, my goal was
• 28:16
  Speaker 5: to operate you know what McDonald's, the soft serve machine.
• 28:19
  Speaker 1: Oh yeah, that would be a really good job.
• 28:21
  Speaker 5: That was my dream. My dream was to operate a
• 28:23
  Speaker 5: soft serve machine.
• 28:24
  Speaker 1: I love that.
• 28:25
  Speaker 5: And I became a lawyer, Like, ugh, that's disgusting.
• 28:28
  Speaker 1: I did too.
• 28:29
  Speaker 4: Maybe this is why I'm always talking about bleach in
• 28:32
  Speaker 4: my house. I'm organizing my pantry. I have the most
• 28:35
  Speaker 4: organized fridge you've ever seen in your life. Maybe I've
• 28:37
  Speaker 4: missed my true calling.
• 28:39
  Speaker 5: Yeah, you should be one of those home edit girls.
• 28:42
  Speaker 4: Absolutely not, because I wouldn't want to show you all
• 28:45
  Speaker 4: the stuff I hide so that my fridge can look good.
• 28:48
  Speaker 5: Oh yeah, yeah, that's very relatable.
• 28:50
  Speaker 4: Yeah all right, let's flip the narrative again.
• 28:53
  Speaker 1: I wann't know. What do you think is your worst
• 28:55
  Speaker 1: money habit?
• 28:56
  Speaker 5: Okay, my worst money habit is definitely dopamine seeking through spending.
• 29:02
  Speaker 1: Amazing. We are two peas in a pod, my friend.
• 29:04
  Speaker 5: Yeah, I'm in the process of getting a formal ADHD
• 29:08
  Speaker 5: diagnosis and learning about how my little treat spending affects
• 29:15
  Speaker 5: my money is bonkers. It's so intriesing, it's amazing.
• 29:19
  Speaker 4: Yeah, it's really rude too, Like when they start telling
• 29:22
  Speaker 4: you things about yourself and you're like, I've never had
• 29:24
  Speaker 4: an original experience in my life.
• 29:26
  Speaker 1: I know what you mean. This is normal. I thought
• 29:29
  Speaker 1: that this was my personality.
• 29:31
  Speaker 3: I know.
• 29:32
  Speaker 5: It's the single worst thing about TikTok I think is
• 29:34
  Speaker 5: that I've realized. Agree, every experience I've had is had
• 29:37
  Speaker 5: by someone else, and that sucks.
• 29:39
  Speaker 4: Yeah what I thought I was original, But I'm living
• 29:42
  Speaker 4: in this world of clones. We all seek dopamine by
• 29:45
  Speaker 4: spending our money and then wonder why it's not working
• 29:48
  Speaker 4: and try again.
• 29:49
  Speaker 5: I know, I know, but yeah, that's really bad for me.
• 29:53
  Speaker 5: My worst habit, though, is particularly doper meine seeking through
• 29:58
  Speaker 5: buying bubble tea.
• 29:59
  Speaker 4: Bubble tea, that's something I can absolutely relate to.
• 30:03
  Speaker 5: What's your order, Well, it depends on the day. I've
• 30:05
  Speaker 5: got two, so option one is peach green tea with
• 30:10
  Speaker 5: mango popping pearls okay, I hear you, yep? Or a
• 30:14
  Speaker 5: taro milk tea.
• 30:15
  Speaker 1: Oh no, you can't have the milk tea. No, okay no.
• 30:19
  Speaker 4: My go to order is a passion fruit green tea
• 30:22
  Speaker 4: with half sugar. Obviously you're gonna have the normal pearls,
• 30:26
  Speaker 4: but you're also gonna add lie chia jelly and fresh
• 30:28
  Speaker 4: passion fruit.
• 30:29
  Speaker 1: Oh yeah, that's the elite order.
• 30:32
  Speaker 4: And then you do half ice because they want more
• 30:34
  Speaker 4: tea than ice because it's already cold, So like, don't
• 30:37
  Speaker 4: mess me over.
• 30:37
  Speaker 5: Gotta do the half eyes It's like when you go
• 30:39
  Speaker 5: to macas and you get your drink and they fill
• 30:41
  Speaker 5: it up with all ice and you get this much sucks.
• 30:44
  Speaker 4: Yeah exactly, and I already ordered a diet coke, Like,
• 30:47
  Speaker 4: let me have the full cup. You know this isn't
• 30:50
  Speaker 4: hurting anybody except my body, Like, stop it.
• 30:55
  Speaker 5: I love it.
• 30:56
  Speaker 4: Money, Dirice, we have nearly reached the end of the episode.
• 31:00
  Speaker 4: At the start of the episode, you told me that
• 31:02
  Speaker 4: you were a B minus, and then we had all
• 31:04
  Speaker 4: of these great conversations. You told me a whole heap
• 31:06
  Speaker 4: about your automated cash flow system, how you're actually a
• 31:09
  Speaker 4: big dog earning ninety seven thousand dollars a year, that
• 31:12
  Speaker 4: you have these big money goals. You're already using your
• 31:14
  Speaker 4: first time super savior scheme. You are utilizing this superanuation
• 31:18
  Speaker 4: advisors very well. I just do you still feel like
• 31:22
  Speaker 4: you're a B minus? And if so, that's okay. But
• 31:25
  Speaker 4: what would it take to get to an A plus?
• 31:28
  Speaker 5: Maybe we can say I'm a B plus? Okay, all right? Yeah, kiss,
• 31:35
  Speaker 5: I think to get me to an A plus, I
• 31:37
  Speaker 5: would like to be a bit more effective with managing
• 31:41
  Speaker 5: my little treat spending and having my little treat fund,
• 31:44
  Speaker 5: you know, budget for it, and then it's fine. And
• 31:47
  Speaker 5: I think when I get a little bit closer to
• 31:49
  Speaker 5: some of my big goals, I think that would make
• 31:52
  Speaker 5: me feel good.
• 31:53
  Speaker 1: Oh how exciting.
• 31:55
  Speaker 4: Unfortunately, that is all we have time for today. Money Dorist,
• 31:58
  Speaker 4: thank you so much for being so raw and so
• 32:01
  Speaker 4: real and so funny and just sharing so much with
• 32:04
  Speaker 4: me today. In this short period of time that we
• 32:06
  Speaker 4: have had, I have absolutely loved it and it has
• 32:09
  Speaker 4: been an absolute pleasure.
• 32:10
  Speaker 1: Fabulous.
• 32:11
  Speaker 5: Thank you so much, no, thank you.
• 32:20
  Speaker 4: The advice shared on She's on the Money is general
• 32:22
  Speaker 4: in nature and does not consider your individual circumstances. She's
• 32:26
  Speaker 4: on the Money exists purely for educational purposes and should
• 32:30
  Speaker 4: not be relied upon to make an investment or financial decision.
• 32:33
  Speaker 1: If you do choose to buy a financial product, read.
• 32:36
  Speaker 3: The PDS TMD and obtain appropriate financial advice tailored towards
• 32:40
  Speaker 3: your needs. Victoria Divine and She's on the Money are
• 32:43
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• 32:48
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• 32:52
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• 33:00
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