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MONEY DIARIES: Young Mum, Young Gun! · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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Speaker 1: the Order Kernye Whoalbury and a waddery woman. And before
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Speaker 1: we get started on She's on the Money podcast, I
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Speaker 1: would like to acknowledge the traditional custodians of the land
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Speaker 1: of which this podcast is recorded on a wondery country,
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Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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Speaker 1: and the storytelling of you to make a difference for
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Speaker 1: today and lasting impact for tomorrow.
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Speaker 2: Let's get into it.
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Speaker 3: She's on the Money, She's on the Money.
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Speaker 2: Hello, and welcome to She's on the Money the podcast
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Speaker 2: Millennials who want financial freedom. Welcome back to another one
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Speaker 2: of our money diaries where I get the absolute privilege
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Speaker 2: of talking to one of our Shees on the Money
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Speaker 2: community members all about their journey. Let's jump straight into it,
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Speaker 2: because this week I got a message and it went
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Speaker 2: like this. Hi Ve, I was married at eighteen, I
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Speaker 2: owned two properties by twenty and had two babies by
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Speaker 2: twenty one. I'm now working full time to support my
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Speaker 2: family while studying part time. I would love to share
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Speaker 2: the experience of going from a two income household to
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Speaker 2: one with the community money diarists, I would also love
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Speaker 2: for you to share that story. Welcome to the show,
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Speaker 2: and thank you for wanting to share.
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Speaker 4: Thank you for having me.
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Speaker 2: I am so excited about this. I feel like married
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Speaker 2: at eighteen two, properties at twenty two, babies at twenty one,
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Speaker 2: like what the hecking like? That is a very condensed
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Speaker 2: timeframe that I need to know a lot about. But
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Speaker 2: before we get there, let's jump straight in moneyed diarist.
2:02
Speaker 2: Before we start, what grade would you give your money
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Speaker 2: habits if I asked you to give them a grade
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Speaker 2: from A through to F.
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Speaker 4: I've been thinking a little bit on this question, and
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Speaker 4: I've been going back and forward with a couple of
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Speaker 4: different grades. I'd say I'd probably place myself around the
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Speaker 4: B minus, but it could fluctuate a little bit depending
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Speaker 4: on how sitting myself on the day.
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Speaker 2: Well, we're about to learn a lot more about this,
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Speaker 2: so I'm excited. Let's jump to my favorite question ever,
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Speaker 2: moneyed Diarist, Can you please tell me a little bit
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Speaker 2: more about your money story?
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Speaker 4: Yeah? Absolutely so. I would say that I grew up
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Speaker 4: in a fairly like middle income earning household. We weren't
2:44
Speaker 4: super rich, but my parents also made sure that we
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Speaker 4: had everything that we needed and we were still able
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Speaker 4: to enjoy like the occasional family holiday, and it wasn't
2:55
Speaker 4: down to the dollar. So it was always a pretty
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Speaker 4: comfortable relationship with money I had when I was growing up.
3:02
Speaker 4: I would definitely say that when I was younger, I
3:06
Speaker 4: wasn't a very good saver. I'm still learning out to
3:10
Speaker 4: be a good saver, relatable. I spend happy. So my
3:14
Speaker 4: parents always sort of trying to teach us how to
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Speaker 4: save a bit of our money not spend it all
3:20
Speaker 4: in one place, which very few teenagers will listen to
3:24
Speaker 4: that advice.
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Speaker 2: Sometimes we just have to learn on our own. Sometimes
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Speaker 2: I have to make my own mistake absolutely to learn
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Speaker 2: that maybe that's not what we should be doing.
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Speaker 4: Definitely, So that was always a little bit of that.
3:35
Speaker 4: And then probably about three months out of high school,
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Speaker 4: two three months, I found out I was pregnant with
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Speaker 4: my daughter, and so that was a bit scary.
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Speaker 2: That's a lot. So how old were you.
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Speaker 4: I was seventeen at the time.
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Speaker 2: Oh, she's just a baby having a baby.
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Speaker 4: Yeah, So I was, yeah, just crushed out of high school.
3:56
Speaker 4: Me and my partner which now husband, had been together
4:00
Speaker 4: a little bit over a year at the time, and.
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Speaker 2: You guys are still together. Yes, I love this so much.
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Speaker 4: Yeah. So we started dating in grade eleven, so we've
4:10
Speaker 4: been together for it'll be six years this year and
4:14
Speaker 4: married for three years this year. So yeah, that was
4:18
Speaker 4: a bit hectic. So I had my daughter when I
4:20
Speaker 4: was eighteen, and we didn't move out of home until
4:25
Speaker 4: I was seven eight months pregnant. I was still living
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Speaker 4: with my parents at the time.
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Speaker 2: I would have milked out for all of it was worth, honestly,
4:32
Speaker 2: I would have done exactly the same thing.
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Speaker 4: And so we got a little one bedroom apartment we
4:37
Speaker 4: moved into when I was like eight months pregnant. I
4:40
Speaker 4: was working in the family business at the time as
4:43
Speaker 4: a trainee, so I was long training ages. They were
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Speaker 4: not very good.
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Speaker 2: Oh my gosh. As someone who's also like eight months
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Speaker 2: pregnant right now, moving and eight months pregnant like hoofed, no,
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Speaker 2: thank you, it was a lot.
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Speaker 4: But we had so many people helping us out, which
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Speaker 4: was amazing. We both have pretty big families, and so, yeah,
5:03
Speaker 4: we had my daughter. I was a trainee at the
5:05
Speaker 4: time and my husband was just working like casually in hospitalities.
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Speaker 2: So what were you with training in.
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Speaker 4: I worked well, I worked at a mortgage brokerage, so
5:16
Speaker 4: I was doing a business admin traineeship at the time.
5:19
Speaker 4: And yeah, so things with my birth my daughter didn't
5:24
Speaker 4: really go as planned. There were quite a few complications
5:27
Speaker 4: after I had her, so I wasn't able to drive
5:31
Speaker 4: or six months after I had my daughter.
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Speaker 2: Oh my gosh, youre you okay now?
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Speaker 4: Yes, everything's all good now. But so I wasn't able
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Speaker 4: to drive for six months after I had my daughter,
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Speaker 4: which was definitely a challenge.
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Speaker 2: Six months, Yes, like a low key, like complete side note,
5:49
Speaker 2: I am terrified that I'll end up with a C section,
5:52
Speaker 2: purely because I don't want to not drive for six weeks. Yeah,
5:55
Speaker 2: I'm like that feels like I'll be trapped. So six
5:59
Speaker 2: months would have been terrifying.
6:01
Speaker 4: Six months it was very difficult. But thankfully where we'd moved,
6:05
Speaker 4: we were super super close to my parents' house, were
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Speaker 4: only like a few streets away, so nice. With all
6:12
Speaker 4: the complications that happened with my birth, I wasn't really
6:15
Speaker 4: comfortable at saying at home by myself just with the
6:18
Speaker 4: baby while my husband was at work, so my husband
6:22
Speaker 4: would drop me off at my parents' house while he
6:24
Speaker 4: went to work because he started a full time job
6:26
Speaker 4: two weeks after we had our daughter.
6:28
Speaker 2: Oh my gosh, you really do do what you got
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Speaker 2: to do?
6:30
Speaker 5: Hey.
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Speaker 4: Yeah, So I was at my parents' house every day
6:35
Speaker 4: with my daughter, and I was like, well, she's just
6:38
Speaker 4: a newborn, she's just sleeping. I'm kind of bored. So
6:41
Speaker 4: I went back to work two weeks after I'd had
6:44
Speaker 4: my daughter.
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Speaker 2: Oh my gosh, no, what are you doing? Also low key,
6:48
Speaker 2: your parents probably loved having you and her around.
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Speaker 4: Oh yeah, often it was we were the first grand
6:54
Speaker 4: baby on my site and my husband's side of the family,
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Speaker 4: so it was absolutely spoiled dred percent. Yeah. So I
7:02
Speaker 4: didn't really take maternity leave after having my daughter. I
7:05
Speaker 4: was just working from home at my parents' place. Then
7:09
Speaker 4: pretty much into like a drive again, or I would
7:12
Speaker 4: go into the office with my family because we all
7:16
Speaker 4: worked at the same place. And then so yeah, that
7:19
Speaker 4: was that. And then come into the end of twenty twenty,
7:27
Speaker 4: so I'd had my daughter in September and December, we
7:31
Speaker 4: were like, look, we're not going to be in this
7:35
Speaker 4: rental property forever. We'd only signed the six month lease
7:38
Speaker 4: at the time, and we were like, the rental market
7:42
Speaker 4: isn't great. The real estate market. I kind of knew
7:46
Speaker 4: what was going on, and I was like, the housing
7:48
Speaker 4: market is going to be going up. If we don't
7:50
Speaker 4: take advantage of it now, we're never going to be
7:52
Speaker 4: able to And we were obviously in the privileged position
7:56
Speaker 4: that my family was able to give up loan US
7:59
Speaker 4: money to be able to purchase a house. So we
8:02
Speaker 4: found the one house in our area that was within
8:05
Speaker 4: our price range. It was an off the plan and.
8:08
Speaker 2: You were like, oh, buy this one because this is
8:10
Speaker 2: the only.
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Speaker 4: The only option. Yeah, it was an off the plan,
8:14
Speaker 4: and we were like, we need to have a contract
8:16
Speaker 4: signed by the end of the year so we can
8:17
Speaker 4: get all of these grants and everything. So it was
8:22
Speaker 4: very on the whim, signed it like a week or
8:25
Speaker 4: two up. We decided that's what we were doing, and
8:28
Speaker 4: then that was built by June of twenty twenty one.
8:33
Speaker 4: We moved in June twenty twenty one and that was
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Speaker 4: our first house. So we were there for a year
8:41
Speaker 4: year and a half. But the property market, as I said,
8:45
Speaker 4: went up really really quickly. So we bought our house
8:48
Speaker 4: and within like six to twelve months, it had gone
8:52
Speaker 4: up by like at least one hundred thousand dollars in value.
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Speaker 2: Oh my gosh, money, win, that's some nice equity.
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Speaker 4: It wasn't nice equity. So I was like, look, we
9:03
Speaker 4: could take out some of this equity and look and
9:06
Speaker 4: see if there's any investment properties that we'd be interested
9:09
Speaker 4: in buying. I was like, we're on a roll. Why
9:11
Speaker 4: stop now. So we were able to take out some
9:15
Speaker 4: equity and find a little studio property that was super
9:22
Speaker 4: cheap and already had attendant in it and everything, and
9:25
Speaker 4: we purchased that at the start of twenty twenty one.
9:29
Speaker 4: And then that could have sort of just blotted along.
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Speaker 4: There wasn't really anything to do with that. And then
9:35
Speaker 4: I found out that I was pregnant with my son
9:38
Speaker 4: in December of twenty twenty two, and it was just
9:44
Speaker 4: a little bit of a whirlwind. So we'd had both
9:46
Speaker 4: the houses and we were like, look, what is the plan.
9:51
Speaker 4: So we sort of sat down, looked at our finances,
9:55
Speaker 4: looked at everything, and we were like, we can make
9:57
Speaker 4: it work staying in our house. But at that point,
10:00
Speaker 4: both my husband and I were studying, and so we
10:04
Speaker 4: decided probably not the best financial decision unless we want
10:08
Speaker 4: to be counting pennies. And so again we were in
10:13
Speaker 4: the privileged position that my grandmother had heats of room
10:17
Speaker 4: at her house. And so I had my son in
10:20
Speaker 4: August twenty twenty three again and say getting maternityly because
10:26
Speaker 4: I was just like, I'm too bored to sit at
10:28
Speaker 4: home with a newborn. I'll just go.
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Speaker 2: Crazy as someone who's about to have a baby. And honestly,
10:34
Speaker 2: your work ethic sounds like mine. Sometimes people were like,
10:37
Speaker 2: oh my gosh, that's so admirable, and I'm like, no,
10:39
Speaker 2: I would go up the wall if you didn't let
10:41
Speaker 2: me work, like I will go crazy, Like I need
10:43
Speaker 2: to do this. I can't imagine, and like I'm lucky
10:47
Speaker 2: that I've been around so many newborns and I know
10:49
Speaker 2: they do sleep a lot, Like what am I going
10:51
Speaker 2: to do in that period of time? I know people
10:52
Speaker 2: say you need sleep, but I'm like I don't sleep
10:55
Speaker 2: at the best of times. So don't know how this
10:56
Speaker 2: is going to work. Was going back like in hindsight
11:00
Speaker 2: at two weeks was that too early? Were you like no, no, no,
11:02
Speaker 2: I just all worked out and I like balanced it,
11:04
Speaker 2: or like what did that actually look like I think
11:07
Speaker 2: was my daughter.
11:09
Speaker 4: It was okay because I was just working from home
11:14
Speaker 4: and there were so many people in the house that
11:16
Speaker 4: was able to help. Even when my daughter was like awake,
11:20
Speaker 4: I was breastfeeding with all the complications, so it was
11:23
Speaker 4: pretty easy. I could like get someone else to feed
11:26
Speaker 4: her if I was busy doing something. So with my daughter,
11:29
Speaker 4: that was good. With my son, I definitely think I
11:33
Speaker 4: pushed myself a little bit too hard. I was working
11:37
Speaker 4: up until the day that I got in juice. I
11:39
Speaker 4: went to work on the Friday morning, worked a half day,
11:43
Speaker 4: and then went to the hospital on a Friday afternoon
11:46
Speaker 4: to get in juice.
11:47
Speaker 2: I feel like that will be me. I regret nothing already.
11:49
Speaker 4: Yeah, and then I was planning on just going back
11:52
Speaker 4: to work on Monday, but I was still in the
11:54
Speaker 4: hospital on Monday. No, I was still in the hospital
11:57
Speaker 4: on Monday. I got discharged Monday, and she's so warning.
12:01
Speaker 4: I was working on my laptop with my son. He's
12:04
Speaker 4: like three days crazy.
12:06
Speaker 2: But I think that people think I'm going to be bad.
12:08
Speaker 2: I'm not going to be that bad, Like that's bad.
12:10
Speaker 4: I'm like, I think that was like it was definitely
12:13
Speaker 4: pushing it I mean, I still feel like it was
12:17
Speaker 4: the right decision for me at the time. I don't
12:20
Speaker 4: think i'd necessarily change it, but I definitely think like
12:23
Speaker 4: future children, now that we would have like three or
12:28
Speaker 4: more kids, I would definitely take the time to just
12:33
Speaker 4: take my fair share of praternity leaves.
12:35
Speaker 2: But following yeah, fair.
12:37
Speaker 4: But yeah, no, I think looking back on it in hindsight,
12:40
Speaker 4: it definitely was what I would do even if I
12:43
Speaker 4: went back, and I might get myself another week or two,
12:45
Speaker 4: but I just think I would have been too bored.
12:47
Speaker 2: Yeah, fair, Fair, So you've had your second son, you
12:52
Speaker 2: started in mortgage breaking, what are you now studying? Like,
12:55
Speaker 2: where are we at today?
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Speaker 4: So at the moment, I'm studying. I'm doing a double
13:00
Speaker 4: degree in business and psychology. I've just started this last
13:05
Speaker 4: summer semester. I'm finishing my first semester at the moment,
13:08
Speaker 4: so I've just gone back into it. But yeah, I'm
13:11
Speaker 4: just doing that part time and I'm no longer working
13:15
Speaker 4: in a mortgage brokerage. So in October we moved in
13:18
Speaker 4: with my grandma and we put our previous house we
13:23
Speaker 4: were living in also up on the market. And then
13:25
Speaker 4: in November I started my new job. So I'm working
13:29
Speaker 4: in a government agency now in like debt, and so
13:34
Speaker 4: that is Monday to Friday, like eight thirty to four
13:37
Speaker 4: point thirty. So, timmy just kind of revolves around that
13:41
Speaker 4: at the moment.
13:42
Speaker 2: How cool. And you said that you now have a
13:45
Speaker 2: one income household. Does that mean that your partner is
13:49
Speaker 2: not working?
13:49
Speaker 4: Yes, so my partner is now a full time stay
13:51
Speaker 4: at home dad, okay you He's also going back to
13:55
Speaker 4: full time UNI in a couple of weeks. So when
14:00
Speaker 4: we moved, because it was just such a big shift,
14:03
Speaker 4: we figured we take the kids out of day care
14:05
Speaker 4: for a little bit and just let them settle with
14:08
Speaker 4: one change at a time. So just get them a
14:10
Speaker 4: couple months to settle into the new environment. So both
14:13
Speaker 4: of the kids will be going into daycare in the
14:16
Speaker 4: next two weeks the sum of February, and my husband
14:20
Speaker 4: will be going back into UNI menpav, So that'll be
14:23
Speaker 4: in daycare three days a week and then with h
14:26
Speaker 4: the other two.
14:27
Speaker 2: Yeah cool. I love this for you, all right. So
14:31
Speaker 2: that makes me want to go back into the structured
14:33
Speaker 2: questions that I always bring to the table, but get
14:36
Speaker 2: completely sidetracked on what does that mean you earn if
14:39
Speaker 2: you work for a government agency in debt, what are
14:42
Speaker 2: you earning?
14:43
Speaker 4: So at the moment, I'm on sixty seven, five hundred
14:47
Speaker 4: and seventy seven dollars a year. That's not very specific, Yeah,
14:51
Speaker 4: very very broad, and my super I completely got checked.
14:55
Speaker 4: But it's like fourteen fifteen per cent super on top.
14:58
Speaker 2: Of that, very very real. Nice. And you've bought and
15:02
Speaker 2: sold properties, You've had babies, you've already gotten married. But
15:05
Speaker 2: what are your big money goals at the moment? What
15:07
Speaker 2: are you and your partner working towards.
15:09
Speaker 4: Well, we'll dive into it like a little bit later
15:13
Speaker 4: as well. At the moment, we're just trying to pay
15:15
Speaker 4: off most of our personal debt, so we are actually
15:18
Speaker 4: in debates in the moment about selling one of our
15:21
Speaker 4: investment properties to be able to just wipe house late
15:25
Speaker 4: and be pretty free. Well we're still on one income,
15:29
Speaker 4: but that's still in the debating stage. But yeah, at
15:32
Speaker 4: the moment, we're just focusing on paying down the debt.
15:35
Speaker 4: And we've got quite a few big family holidays planned
15:40
Speaker 4: over the next few years which will be quite expensive,
15:44
Speaker 4: so we're saving for those as well.
15:46
Speaker 2: Oh exciting though, Yeah, how fun? All right? Let's go
15:50
Speaker 2: to a really quick break. And on the flip side,
15:52
Speaker 2: you mentioned some personal debt. I want to dive into that.
15:55
Speaker 2: I also want to know all the pervy details about
15:58
Speaker 2: what mortgages you still have and what you owe and
16:00
Speaker 2: how all of that works. So guys, don't go anywhere,
16:08
Speaker 2: all right, money direst do We are back and we
16:10
Speaker 2: are going to start with investment. I wantn't know. Obviously
16:13
Speaker 2: you've got investment properties, but do you have any investments?
16:16
Speaker 2: If so, what are they? Please share?
16:18
Speaker 4: Yeah? Of course, so yeah, obviously we have our to
16:23
Speaker 4: investment properties. So did you want my values of them?
16:28
Speaker 1: Oh?
16:28
Speaker 2: I want as much detail as you'll let us have. Like,
16:31
Speaker 2: have you ever listened to a money diary and been like, damn,
16:33
Speaker 2: I wish you didn't tell me how much she owed
16:35
Speaker 2: on that?
16:36
Speaker 4: No, No, that's totally fine. So our first property we
16:39
Speaker 4: ever bought, which was our owner occupied homes for a while,
16:42
Speaker 4: is probably worse between like five hundred and five to
16:46
Speaker 4: fifty at the moment, and we've got owing on that
16:50
Speaker 4: about four hundred and fifteen thousands.
16:53
Speaker 2: Hey, that's pretty good. It's still sitting on some nice equity.
16:56
Speaker 4: Yeah, it's not bad. And then our second property. We
16:59
Speaker 4: bought it for eighty six thousand dollars.
17:02
Speaker 2: No, you didn't eighty six thousand dollars.
17:05
Speaker 4: Yeah, Hell, it was a little studio up in like
17:10
Speaker 4: North Queensland, so we bought it for eighty six and
17:14
Speaker 4: it's probably like between one hundred and thirty do one
17:18
Speaker 4: hundred and fifty thousand.
17:19
Speaker 2: Now, no, it's not. How good is that?
17:22
Speaker 4: Yeah? And that one we've got about seventy eight thousand
17:26
Speaker 4: dollars owing on it.
17:28
Speaker 2: That's a nice position to be in.
17:30
Speaker 4: Yeah, so there's some good equity in both of them.
17:33
Speaker 4: And then obviously I've got my Super. So my super's
17:37
Speaker 4: sitting just over sixteen thousand at the moment.
17:41
Speaker 2: How old are you now today, I'm twenty one. Yeah,
17:44
Speaker 2: so you're still a child and you've got sixteen thousand
17:46
Speaker 2: dollars in Super, You've got two properties, You've got some
17:49
Speaker 2: nice equity on it. Like how at twenty one I
17:54
Speaker 2: was drunk. I definitely wasn't thinking about this.
18:00
Speaker 4: Yeah, So my goal is I'm hoping to get to
18:03
Speaker 4: twenty five thousand dollars and Super by the end of
18:05
Speaker 4: the YEA.
18:06
Speaker 2: Yeah you will, don't worry.
18:07
Speaker 4: I know that I'll get to twenty, but I'm hoping
18:09
Speaker 4: I'll only get to twenty five. I have sat down
18:11
Speaker 4: and worked out the numbers exactly, and then I've also
18:14
Speaker 4: got a chare Zia's account has just over six hundred
18:20
Speaker 4: dollars in it at the moment.
18:22
Speaker 2: How did you get involved with chare Zias? I can like,
18:24
Speaker 2: what did you pick? How did you pick it? What
18:26
Speaker 2: did all that look like? Well? I heard about Chazea's
18:29
Speaker 2: on the show Well Revolutionary.
18:32
Speaker 4: Previously, all my investing information had come from all of
18:36
Speaker 4: the men in my life, so it was use this
18:40
Speaker 4: super detailed app and you have to write down this
18:43
Speaker 4: twenty seven word secret password and do all of this thing.
18:47
Speaker 4: And I was like, that's that's too much for me, no,
18:49
Speaker 4: thank you. So yeah, I heard about chair Zia's on
18:52
Speaker 4: the podcast and I just downloaded it, and I don't know,
18:58
Speaker 4: I kind of bigger all of the money that I'm
19:00
Speaker 4: putting in it at the moment. Obviously the goal is
19:04
Speaker 4: for that to make money in the future, but at
19:06
Speaker 4: the moment, I'm only putting in little amounts. I'm really
19:10
Speaker 4: just sort of playing around seeing what I like. So
19:13
Speaker 4: I've got kind of a mixture of like more safe things,
19:16
Speaker 4: so I've got some like ETFs and all that kind
19:19
Speaker 4: of stuff, and then I'll just put in like a
19:21
Speaker 4: few dollars here and then to companies that I'm just
19:23
Speaker 4: interested in following and seeing how they track over the years.
19:27
Speaker 2: And do you find it easy or hard or like obviously,
19:30
Speaker 2: I feel like people are overwhelmed, right, People are so
19:33
Speaker 2: overwhelmed when they're like, oh, an investing app. Absolutely not,
19:36
Speaker 2: but like it is easy whishasis or hard or yeah.
19:38
Speaker 4: Chases are super super user friendly and so obviously at
19:42
Speaker 4: the moment, I haven't been putting any extra money into
19:45
Speaker 4: it really, but whenever, I just hop on every now
19:49
Speaker 4: and then and if I've gotten paid a little dibiends
19:51
Speaker 4: from one of my investments, so I'll just put it
19:53
Speaker 4: back in to it, right dude.
19:55
Speaker 2: Yeah, I love that you're learning about it all as well,
19:58
Speaker 2: in like a way that you're like, no, this makes sense,
20:00
Speaker 2: like I like it and I get to have a
20:01
Speaker 2: play like yeah, ah, I love it all. Right, let's
20:04
Speaker 2: flip the conversation because I want to know about debt.
20:07
Speaker 2: Before the break, you said, Oh, my partner and I
20:09
Speaker 2: we're gonna be paying down some personal debt, So tell
20:13
Speaker 2: me about your debt. You told us about the mortgages.
20:15
Speaker 2: So we know that on your first property you have
20:17
Speaker 2: about four hundred and fifteen thousand, oh ing at about
20:19
Speaker 2: seventy on the other one. But what's this personal debt?
20:22
Speaker 2: Tell us?
20:23
Speaker 4: So at the moment, I've got a car loan. So
20:27
Speaker 4: shortly before I had my son, we had had two
20:31
Speaker 4: cars and we sold. I had a little car, we'd
20:34
Speaker 4: sold that and we were just like, look, we only
20:37
Speaker 4: are gonna need one car when we move on with
20:39
Speaker 4: my grandmother, so we'll just keep my husband's car. And
20:43
Speaker 4: we kind of just assumed at the time it would
20:45
Speaker 4: be big enough. And then we got my son's carsiet
20:50
Speaker 4: and the double cram and I was like, there is
20:52
Speaker 4: no way that this car absolutely not. So we kind
20:59
Speaker 4: of had to perch the car and I was like,
21:01
Speaker 4: we don't really have car money, but our sun is
21:03
Speaker 4: due in three weeks. That's the we option we have.
21:06
Speaker 4: So we had to get a car loan. So that
21:08
Speaker 4: one's sitting about twenty thousand now, and we ended up
21:12
Speaker 4: actually just keeping my husband's car because like a bit
21:16
Speaker 4: off track, but my grandmother lives on an island.
21:18
Speaker 2: On an island, yes.
21:20
Speaker 4: So we have my husband's car on the island and
21:24
Speaker 4: we use that as just like our island car because
21:26
Speaker 4: it's owned outright, there's no debt against it or anything.
21:30
Speaker 4: So my car on like the mainland has the carloon
21:34
Speaker 4: against it. And then we've got a credit card as well.
21:38
Speaker 4: That's six thousand, and that's mostly massed out at the
21:42
Speaker 4: moment with moving costs and baby costs.
21:46
Speaker 2: Yes, and baby costs are a lot, a lot so much. Wait,
21:51
Speaker 2: so you've moved to an island. You failed to disclose
21:54
Speaker 2: that part before. That sounds bougie. The fact that you
21:57
Speaker 2: have an island car and a mainland car. How do
22:01
Speaker 2: you get from the mainland to the island, Like you
22:04
Speaker 2: just drive home and then go for a little swim,
22:06
Speaker 2: Like what are we doing?
22:07
Speaker 4: So there's a ferry and a barge. So the faerry
22:11
Speaker 4: is like walk on passengers only, and that operates from
22:15
Speaker 4: sort of like five six in the morning up until
22:18
Speaker 4: ten thirty at night, and it's like an every half
22:20
Speaker 4: hour basis, so it's pretty regular. And then the barge
22:24
Speaker 4: just operates really during the day, so it's yeah, that's
22:27
Speaker 4: pretty early around six. That only operates till about like
22:30
Speaker 4: three or four, and that's you can drive your car Onto,
22:34
Speaker 4: but you can also walk on if you'd like. So
22:37
Speaker 4: you have to go from the mainland park in the
22:41
Speaker 4: little car park that everyone parks in, and then get
22:43
Speaker 4: onto the ferry, take the ferry home to the island
22:47
Speaker 4: and then you can like drive up to the house
22:49
Speaker 4: from there.
22:50
Speaker 2: Oh my gosh, so you've kind of got a curfew
22:52
Speaker 2: at home. What if you have a party or something
22:54
Speaker 2: on the mainland, what do you do at the moment?
22:57
Speaker 4: Really, Like, if we have anything that we know not
23:00
Speaker 4: going to make the last very home, We'll just plan
23:03
Speaker 4: to stay with my family yep that night and I'll
23:06
Speaker 4: just go to work and then we'll go home the
23:08
Speaker 4: next day. But we aren't exactly packed out with social
23:12
Speaker 4: events for two kids, so it's not a massive problem.
23:17
Speaker 4: But we me and my husband are definitely both concert enthusiasts. Yeah,
23:21
Speaker 4: so we definitely have the occasional concert that we kind
23:25
Speaker 4: of have to ship the family over to my parents'
23:27
Speaker 4: house to say it.
23:28
Speaker 2: That's all right? How cool?
23:30
Speaker 4: Yeah?
23:30
Speaker 2: I love that. That is not what I expected. When
23:34
Speaker 2: you're like, yep, we moved are we kept the other car?
23:37
Speaker 2: And I was like, oh, fair enough, Like I wonder why,
23:39
Speaker 2: and you told us that it was because you live
23:41
Speaker 2: on in Ireland and that makes the most sense. I
23:43
Speaker 2: couldn't have guessed. So tell me a bit more about that, Carlon.
23:47
Speaker 2: How much is it and how long is it going
23:49
Speaker 2: to take you to pay off that one?
23:51
Speaker 1: Is?
23:51
Speaker 4: It's setting at about twenty thousand now. I think we
23:56
Speaker 4: originally sent it as a seven year loone term just
23:59
Speaker 4: so you can have them minim repayments, because we can
24:02
Speaker 4: definitely pay it off faster, but I don't want to
24:05
Speaker 4: have it too short and then be stratched for cash
24:08
Speaker 4: and be worried about a higher repayment. So that one,
24:12
Speaker 4: I mean, we only got it later in the year
24:15
Speaker 4: last year, so it's still got some time on it,
24:17
Speaker 4: but it's costs. I think the four nilely repayments for
24:21
Speaker 4: about one hundred and ninety bucks, so it's not too bad.
24:24
Speaker 2: All right. Now, I want to know what do you
24:26
Speaker 2: think your best money habit is? Like, you don't own
24:29
Speaker 2: two houses before twenty one and have babies and get
24:32
Speaker 2: married without some good money habits. I know you say, oh,
24:35
Speaker 2: like we sometimes make mistakes. I'm like, yeah, but not really. Hey,
24:40
Speaker 2: so what are your best money habits?
24:43
Speaker 4: Okay, I'd say my best money habit is I don't
24:48
Speaker 4: like paying full price for anything. Neither do I worry
24:52
Speaker 4: sounds a little bit strange, but I will like search
24:57
Speaker 4: every corners the internet like a discount co food, or
25:01
Speaker 4: like wait for its gone stale, or wait for the
25:03
Speaker 4: shot back hash back to be like increased, and try
25:08
Speaker 4: to add up to all these little discounts to be
25:10
Speaker 4: able to like purchase something like. I'll always when everyone's like, oh,
25:16
Speaker 4: shot back kind of seems like, oh, well, you get
25:19
Speaker 4: like a dollar there, a dollar here, I'm like.
25:22
Speaker 2: It adds up.
25:23
Speaker 4: It adds up. When I look back at my lifetime
25:26
Speaker 4: earnings one shot back, I'm like, who am I I'm
25:29
Speaker 4: so good.
25:30
Speaker 2: You're a money saving queen, that's what you are.
25:32
Speaker 4: Yeah, my shot back lifetime earnings is just over a
25:35
Speaker 4: thousand dollars.
25:37
Speaker 2: Yeah, that's one thousand dollars you didn't have before you
25:39
Speaker 2: used shot back and it was free money. Like, yeah,
25:42
Speaker 2: can't complain.
25:44
Speaker 4: Yeah. And I think I've ever been using shot back
25:45
Speaker 4: for like a year or two, so I'm like.
25:48
Speaker 2: She's using it, well, I like it. You're a fan. Now,
25:52
Speaker 2: flip the narrative, what is your worst money habit?
25:56
Speaker 4: I would say my worst money habit is. I'm jeff
26:00
Speaker 4: a bits then Pappy when it comes to gifting. Gift
26:03
Speaker 4: thing is definitely my love language. And when you have
26:07
Speaker 4: a husband and two kids, you will get trapped down
26:10
Speaker 4: the rabbit holes. I'm like, Oh, my daughter would think
26:14
Speaker 4: that would be so cute. I should get that for her,
26:16
Speaker 4: And it's just spirals. So it got me into a
26:20
Speaker 4: bit of a sticky situation for a while with after
26:23
Speaker 4: pay because I was just putting everything after pay. But
26:26
Speaker 4: I paid off and closed my off pay today.
26:29
Speaker 2: Oh my god, No you didn't. Yeah, Oh congarats, yeah, And.
26:33
Speaker 4: I was like, oh, it was just such a weight
26:36
Speaker 4: off my shoulders because I've been in after pay cycle
26:39
Speaker 4: for like eight year or so. So I was like, wow,
26:42
Speaker 4: you go.
26:43
Speaker 2: Yeah, And it's so easy to just rely on, isn't it.
26:45
Speaker 2: Like it's a slippery slope. Like once you realize how
26:48
Speaker 2: then this isn't me saying it's good, but like once
26:51
Speaker 2: you realize how easy it can be to use, you're like, oh,
26:54
Speaker 2: well that's easy then yeah, and then you slip down
26:57
Speaker 2: the slope and realize, oh, this is actually enabling me
27:00
Speaker 2: to spend money I shouldn't be spending. You don't really
27:03
Speaker 2: want to get rid of it, do you.
27:04
Speaker 4: Yeah.
27:05
Speaker 2: Oh, I'm so proud of you, and I can't believe
27:07
Speaker 2: you did that today. How well timed is that?
27:10
Speaker 4: Yep?
27:10
Speaker 2: Oh my gosh, that's actually I reckon a very perfect
27:14
Speaker 2: place to leave it. But before we go, you've just
27:16
Speaker 2: told me all this cool stuff, like I cannot believe
27:20
Speaker 2: what you've achieved, and you are still, in my eyes
27:23
Speaker 2: as a nearly middle aged someone in their thirties. Obviously
27:27
Speaker 2: that's me being dramatic, but you're twenty one. So to me,
27:31
Speaker 2: I'm like, you are younger than my little sister. That
27:34
Speaker 2: doesn't make sense because my little sister in my head,
27:36
Speaker 2: although she's like twenty nine, she's like, I don't know,
27:39
Speaker 2: at least eighteen in my head that's where she's living.
27:42
Speaker 2: But you're a literal young young adult and you've smashed
27:46
Speaker 2: it all out your own two properties. When you said
27:48
Speaker 2: I have some personal debt, I was like, ooh, what
27:50
Speaker 2: is it? And then you said it was a Carlo
27:52
Speaker 2: and I was like, okay, well, you know that's still
27:54
Speaker 2: technically an asset. Yes, it's a depreciating one. So we're like,
27:57
Speaker 2: we don't want to see it in too good of
27:59
Speaker 2: a life, but at the same time, for your personal situation,
28:02
Speaker 2: that made sense. You're saving, you're investing, you worked in
28:06
Speaker 2: mortgage broking, like you now have a government agency job
28:09
Speaker 2: in debt. Like what's it going to take to get
28:12
Speaker 2: you from a B minus to maybe even just an
28:15
Speaker 2: A or N A plus? Like what would that actually
28:18
Speaker 2: look like?
28:19
Speaker 4: I think for me, I'd like to be able to one.
28:24
Speaker 4: I feel like, once I've paid out my car loan
28:26
Speaker 4: and then I've got a credit card, I don't think
28:30
Speaker 4: I'm going to close the credit card because I'm using
28:32
Speaker 4: it for points and stuff. But once I'm not using
28:37
Speaker 4: money that I don't have all that kind of stuff
28:41
Speaker 4: and have paid out my personal debt, I think that's
28:43
Speaker 4: definitely a good place to start.
28:45
Speaker 2: I like that.
28:46
Speaker 4: Yeah, so I'm like, I think I just I want
28:49
Speaker 4: to get a little bit better at living below my
28:52
Speaker 4: means and not getting as crazy about trying to keep
28:58
Speaker 4: up the joneses, which can be difficult when all of
29:01
Speaker 4: your friends like out partying and going on holidays and
29:03
Speaker 4: you're like, oh, I'm homeless, stupid.
29:06
Speaker 2: Yeah, but it's such a different circumstance because you wait
29:09
Speaker 2: till you're like thirty nine forty and they're still at
29:12
Speaker 2: home looking after you're the kids, and you're like, we
29:14
Speaker 2: are having our best lives right now.
29:17
Speaker 4: Yeah, but yeah, I think once we've wiped out our
29:19
Speaker 4: personal debt and we're just a little bit more comfortable
29:23
Speaker 4: spot well and not having to out all of our dollars,
29:26
Speaker 4: I'd like to be able to just go out, go
29:29
Speaker 4: to the shops, do my stuff and not have to
29:31
Speaker 4: be checking my bag out to make sure there's enough
29:33
Speaker 4: money in there. I think that's where I'd like to be,
29:36
Speaker 4: and investing a bit more regularly, which obviously is sort
29:39
Speaker 4: of on the back burner, but.
29:40
Speaker 2: All of that is so doable, Like there's nothing that's
29:43
Speaker 2: completely out of reach. That makes me so excited. So
29:46
Speaker 2: I'll just like check in with you in a couple
29:48
Speaker 2: of years and be like, where are you at now?
29:50
Speaker 2: It's you, babes, I'm at a plus. Clearly I love
29:54
Speaker 2: it money, Doris. Thank you so much for sharing this.
29:57
Speaker 2: This has been super interesting. I'm very very proud of
30:01
Speaker 2: what you've achieved and how far you've come, and like
30:03
Speaker 2: all of this stuff that you're doing, but also just
30:06
Speaker 2: this idea that you're like, no, no, no, I actually
30:08
Speaker 2: know what it's going to take to get me to
30:10
Speaker 2: an a plus like that. Clarity is so powerful. But
30:13
Speaker 2: thank you for sharing with a community. I've loved this.
30:15
Speaker 2: It's been a fun chat, and I think our community
30:18
Speaker 2: are going to love it just as much as I did.
30:20
Speaker 4: Thank you so much having me also assignment before I
30:23
Speaker 4: finish that. My bank you briand is so bad that
30:26
Speaker 4: I literally told you I'm twenty one and I am
30:28
Speaker 4: twenty two.
30:37
Speaker 5: The advice shared on She's on the Money is general
30:39
Speaker 5: in nature and does not consider your individual circumstances. She's
30:43
Speaker 5: on the Money exists purely for educational purposes and should
30:47
Speaker 5: not be relied upon to make an investment or financial decision.
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Speaker 2: If you do choose to buy a financial.
30:52
Speaker 5: Product, read the PDS TMD and obtain appropriate financial.
30:56
Speaker 2: Advice tailored towards your needs.
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Speaker 5: Victoria Divine and She's on the Money are authorized representatives
31:02
Speaker 5: of Money sherper P T y L t D A
31:04
Speaker 5: B N three two one six four nine two seven
31:07
Speaker 5: seven zero eight a F s L four five one
31:10
Speaker 5: two eight nine