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When Life Throws Curveballs, Here’s How to Smash Your Goals Anyway · She's On The Money

• 0:00
  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
• 0:04
  Speaker 1: the Order KERNI Whoaltbury and a waddery woman. And before
• 0:08
  Speaker 1: we get started on She's on the Money podcast, I
• 0:11
  Speaker 1: would like to acknowledge the traditional custodians of the land
• 0:14
  Speaker 1: of which this podcast is recorded on a wondery country,
• 0:18
  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
• 0:22
  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
• 0:27
  Speaker 1: and the storytelling of you to make a difference for
• 0:30
  Speaker 1: today and lasting impact for tomorrow.
• 0:33
  Speaker 2: Let's get into it. She's on the Money, She's on
• 0:36
  Speaker 2: the Money. Hello, and welcome to She's on the Money
• 0:59
  Speaker 2: the pod cast Millennials who want financial freedom. Welcome back
• 1:03
  Speaker 2: to another one of our money daries where I get
• 1:05
  Speaker 2: the absolute privilege of talking to one of our incredible
• 1:08
  Speaker 2: She's on the Money community members all about their story.
• 1:11
  Speaker 2: Let's jump straight into it, because this week we got
• 1:14
  Speaker 2: a message and it sounded exactly like this, Dear She's
• 1:18
  Speaker 2: on the Money. In twenty nineteen, I was made redundant,
• 1:21
  Speaker 2: started a new job and met my husband. COVID fast
• 1:25
  Speaker 2: tracked our relationship. We moved in together within months. During
• 1:29
  Speaker 2: this I finally paid off my debts when a work
• 1:32
  Speaker 2: cover incident left me on work cover for three years,
• 1:35
  Speaker 2: which limited my career options and my income. Despite this,
• 1:40
  Speaker 2: we have built our dream home managed to secure a mortgage,
• 1:44
  Speaker 2: even with one of us on work cover and the
• 1:46
  Speaker 2: other on a veteran's pension. Now with a baby, we
• 1:49
  Speaker 2: are laser focused on our finances. Discovering we'd spent ten
• 1:53
  Speaker 2: thousand dollars on coffee was a wake up cool. We've
• 1:56
  Speaker 2: restructured our budget, boosted mortgage payments, and set new savings goals,
• 2:01
  Speaker 2: all with the plan to eventually buy a bush block
• 2:04
  Speaker 2: with a tiny home for our family. Money Diarist, Welcome
• 2:07
  Speaker 2: to the show. This sounds so fun.
• 2:09
  Speaker 3: It is so fun, and it's funny. Like hearing it
• 2:12
  Speaker 3: back that it's my life, I'm like, this is.
• 2:14
  Speaker 2: Whack it is. That is crazy. I mean the fun
• 2:18
  Speaker 2: part is definitely you being laser focused on your finances
• 2:21
  Speaker 2: and like buying property and doing budgeting, not the part
• 2:24
  Speaker 2: where you were on work cover, because that sounds like trash.
• 2:28
  Speaker 2: So before we get into your money story, can you
• 2:31
  Speaker 2: tell me what your money habits would be if you
• 2:33
  Speaker 2: had to rate them from a three to F.
• 2:35
  Speaker 3: I think I would be a C, but only in
• 2:38
  Speaker 3: the last twelve months. Prior to that, I was definitely
• 2:41
  Speaker 3: down in the d's.
• 2:42
  Speaker 2: Okay, so we're glowing up. We're in glow up phase.
• 2:45
  Speaker 2: I love that. All right, money dires, let's dive into it.
• 2:47
  Speaker 2: Tell me a little bit more about your money story.
• 2:50
  Speaker 3: So I grew up with a single mum. My parents
• 2:53
  Speaker 3: split up when I was about four, and my dad,
• 2:58
  Speaker 3: while my parents were together, was quiet financially and emotionally abusive.
• 3:02
  Speaker 3: So my mum had a bit of a budget that
• 3:03
  Speaker 3: she was given each month to clothe and feed my
• 3:06
  Speaker 3: brother and I, which was nowhere near enough. So my
• 3:08
  Speaker 3: grandparents kept us financially. So my understanding of money was
• 3:12
  Speaker 3: that if you couldn't afford something, you put it on
• 3:14
  Speaker 3: Pop's credit card. And that's what I learned about money.
• 3:18
  Speaker 2: Okay, but like iconic from Pop, oh, like.
• 3:21
  Speaker 3: A legend, and even today, like I'm thirty one and
• 3:25
  Speaker 3: he's still like, you need my credit card for groceries
• 3:27
  Speaker 3: and I'm like, nahm good.
• 3:28
  Speaker 2: Oh my god, what her honey? I love lost you.
• 3:31
  Speaker 3: Yeah, So that was my understanding of money. We never
• 3:34
  Speaker 3: went without, but we also didn't have any extra, So
• 3:37
  Speaker 3: school camps, excursion, things like that didn't happen really for us.
• 3:40
  Speaker 3: And then my mum started working again, so she was
• 3:44
  Speaker 3: never allowed to work when she was married to my dad,
• 3:46
  Speaker 3: and she didn't go back to work until we went
• 3:48
  Speaker 3: to high school and she just worked in retail. And again,
• 3:53
  Speaker 3: you know, there was no extra, but there was sort
• 3:55
  Speaker 3: of just enough. And that's kind of the mindset I had. Yeah,
• 3:58
  Speaker 3: as I got into young Autamo with money, not only
• 4:04
  Speaker 3: was there sort of just enough, but if there was
• 4:06
  Speaker 3: any extra, it would go. It would get spent on,
• 4:09
  Speaker 3: you know, I don't know what, but you know, mum
• 4:12
  Speaker 3: had treat us or Sho'd buy us something. There was
• 4:14
  Speaker 3: no real savings. There was no real education, I guess.
• 4:18
  Speaker 3: And then so when I moved out on my own,
• 4:20
  Speaker 3: it was like a bit of a struggle for me.
• 4:22
  Speaker 3: I ended up back home twice before I finally left
• 4:25
  Speaker 3: for the last time and stayed gone, just learning to
• 4:28
  Speaker 3: manage my finances myself, which I hadn't really done until
• 4:33
  Speaker 3: I met my now husband and learned some very valuable
• 4:37
  Speaker 3: money lessons from him, which I'm very grateful for. He's
• 4:40
  Speaker 3: very switched on, which has been really good.
• 4:42
  Speaker 2: I love that. So what does life look like today?
• 4:46
  Speaker 3: So today we live in a regional area. We moved
• 4:50
  Speaker 3: from more in the city, bought a couple of acres
• 4:53
  Speaker 3: and built our dream home, which we're already ready to
• 4:56
  Speaker 3: move on from.
• 4:57
  Speaker 2: No, and go bigger and better. Yeah, I love that.
• 5:01
  Speaker 2: It's yeah, so common though, people are like, I'm going
• 5:03
  Speaker 2: to build my dream home, We're going to live here forever,
• 5:06
  Speaker 2: let's leave.
• 5:07
  Speaker 3: Yeah, that's exactly us. We were like, let's do a
• 5:10
  Speaker 3: bit of a tree change and get some land, and
• 5:13
  Speaker 3: you know, now we're like, let's get more land and
• 5:16
  Speaker 3: a cow or something.
• 5:17
  Speaker 2: I love that though, and I love that you've got
• 5:19
  Speaker 2: the freedom to do that.
• 5:20
  Speaker 3: It's very cool. And I think the things that have
• 5:23
  Speaker 3: happened to us that have landed us in these sort
• 5:25
  Speaker 3: of financial positions also that a lot of freedom in
• 5:28
  Speaker 3: our life, which you know, a bit of a give
• 5:31
  Speaker 3: and take, but it's been really nice.
• 5:32
  Speaker 2: It's a compromise for sure.
• 5:34
  Speaker 3: Yeah, to sort of end up here from where we
• 5:37
  Speaker 3: both were. So yeah, we met at the end of
• 5:41
  Speaker 3: twenty nineteen and the apartment I was living in at
• 5:45
  Speaker 3: the time then decided no dogs, So we myself and
• 5:51
  Speaker 3: my dog Stephen, got the.
• 5:51
  Speaker 2: Boot Steven Stephen. Oh my gosh, that's my husband's name,
• 5:56
  Speaker 2: but that is a great dog name.
• 5:57
  Speaker 3: He's fantastic. We got the boot and I sort of
• 6:00
  Speaker 3: said to my husband, you know, can I stay with
• 6:02
  Speaker 3: you just while I find somewhere. And then COVID happened
• 6:06
  Speaker 3: and no open homes, no rentals, so we then just
• 6:11
  Speaker 3: lived there and that was that about three months into
• 6:13
  Speaker 3: our relationships.
• 6:13
  Speaker 2: So, oh my gosh, go hard to go home, right,
• 6:16
  Speaker 2: I love that? And then what happened.
• 6:18
  Speaker 3: And then following that, I sustained my injury and that
• 6:23
  Speaker 3: was probably twelve months after we had met. And so
• 6:27
  Speaker 3: my husband's first meeting of my mum was when he
• 6:29
  Speaker 3: picked her up at the airport and she stayed in
• 6:31
  Speaker 3: our home for six weeks without me.
• 6:33
  Speaker 2: Oh my gosh, that would have been an initiation by fire.
• 6:38
  Speaker 3: But I have my So my grandmother's engagement ring is
• 6:40
  Speaker 3: my engagement ring.
• 6:41
  Speaker 2: And oh that's so sweet.
• 6:43
  Speaker 3: Yeah, my husband knew I wanted that. So when he
• 6:45
  Speaker 3: called my mum to go, you know, you better come.
• 6:47
  Speaker 3: He also asked her to bring the ring, which was
• 6:48
  Speaker 3: so sweet.
• 6:49
  Speaker 2: Because like, I bring that ring. Yeah, oh my gosh,
• 6:52
  Speaker 2: I love that. But also that would have been so traumatic.
• 6:55
  Speaker 2: Are you comfortable telling us a little bit more about
• 6:57
  Speaker 2: your injury and what happened.
• 6:59
  Speaker 3: Yeah, I just sustained injury with one of my clients
• 7:01
  Speaker 3: that I was working with, and that injury resulted in
• 7:05
  Speaker 3: a number of reconstructive surgeries and a brain injury. And yeah,
• 7:10
  Speaker 3: an inability to work, an inability to finish my university studies. Yeah,
• 7:14
  Speaker 3: just a whole pause on my.
• 7:16
  Speaker 2: Life, which I think is important context, not because we
• 7:19
  Speaker 2: want to know the pervy details, but sometimes a work
• 7:22
  Speaker 2: cover thing could be like, oh, yes, I worked in
• 7:24
  Speaker 2: a factory and a box fell off and I broke
• 7:26
  Speaker 2: my leg and therefore wasn't able to work. Like I
• 7:28
  Speaker 2: knew in the background that yours was a bit deeper
• 7:30
  Speaker 2: than that, which is why you needed three years off.
• 7:32
  Speaker 2: And it is an ongoing issue for you that is
• 7:36
  Speaker 2: going to impact your ability to have a career into
• 7:38
  Speaker 2: the future.
• 7:39
  Speaker 3: Right, Yes, that's correct.
• 7:40
  Speaker 2: Yeah, but you have a baby now.
• 7:42
  Speaker 3: I do have a baby now, which is very exciting.
• 7:44
  Speaker 2: That is so exciting.
• 7:45
  Speaker 3: It's so exciting. So she's ten months old and she's
• 7:49
  Speaker 3: just wild.
• 7:50
  Speaker 2: They are, aren't they.
• 7:52
  Speaker 3: Yes, I'm solo parenting for the first time this week.
• 7:54
  Speaker 3: My husband is away, and hats off to single mums
• 7:58
  Speaker 3: single parrot, like, I don't know how they do it.
• 8:00
  Speaker 2: It's I don't know either. I was saying this to
• 8:03
  Speaker 2: one of my girlfriends the other day. I was like,
• 8:05
  Speaker 2: I have such a supportive and kind husband, and I
• 8:08
  Speaker 2: don't know what I would do without him. Like, single
• 8:11
  Speaker 2: moms are a force to be reckoned with. Like, if
• 8:13
  Speaker 2: you're a single mom, like, hats off to you, you
• 8:16
  Speaker 2: are so impressive one hundred percent. Like they don't get
• 8:20
  Speaker 2: the credit they deserve. And it's not until you're a
• 8:22
  Speaker 2: mom that you're like, oh, I knew that you were
• 8:24
  Speaker 2: impressive before. Now I just you are insanely good.
• 8:28
  Speaker 3: Yes, definitely. We like cross the calendar off each evening
• 8:31
  Speaker 3: when dad's coming back. And that's not for her, that's
• 8:34
  Speaker 3: for me.
• 8:35
  Speaker 2: Yeah, we're counting down the days. Oh my gosh, So
• 8:38
  Speaker 2: tell me what do you do for work? How much
• 8:39
  Speaker 2: money do you earn?
• 8:40
  Speaker 3: So I am a youth worker and I earn it'd
• 8:46
  Speaker 3: be approximately one thousand dollars a week. I have three
• 8:48
  Speaker 3: casual sorry a thousand dollars one fortnite. I have three
• 8:51
  Speaker 3: casual positions, so that fluctuates quite a bit.
• 8:54
  Speaker 2: Hey, that's pretty cool. Yeah.
• 8:56
  Speaker 3: So my theory was if I didn't get hours at one,
• 8:59
  Speaker 3: I would get out at another, which has worked out
• 9:01
  Speaker 3: quite well. Some weeks are really busy, though, So.
• 9:03
  Speaker 2: And is it working out having a ten month old
• 9:05
  Speaker 2: and still working, Like, what does that, I guess juggle
• 9:08
  Speaker 2: look like.
• 9:09
  Speaker 3: Yeah, so our girl's in daycare four days a week.
• 9:12
  Speaker 2: Very cool.
• 9:12
  Speaker 3: So yeah, we don't have any family. All of our
• 9:14
  Speaker 3: families into state, so it's just me and my husband.
• 9:17
  Speaker 3: Our closest friends are over an hour away, so it's
• 9:19
  Speaker 3: just us. So I felt a lot of guilt, actually
• 9:22
  Speaker 3: a lot of mum guilt when we first put her in.
• 9:24
  Speaker 3: But everyone talks about the village, and it just happens
• 9:26
  Speaker 3: that our village is our daycare and they're wonderful people.
• 9:28
  Speaker 2: One hundred percent. Harvey's in daycare and he thrives there,
• 9:32
  Speaker 2: like he is obsessed with daycare. This morning, I was
• 9:35
  Speaker 2: pushing the pram up the ramp and he had his
• 9:37
  Speaker 2: little flappy bird arms because he was so excited. He'd
• 9:39
  Speaker 2: just realized where he was, and I was just like,
• 9:43
  Speaker 2: you have your little job at daycare, and then mum
• 9:45
  Speaker 2: goes to work and then we come back together and
• 9:48
  Speaker 2: we're all just having a good life. Like the mum
• 9:50
  Speaker 2: guilt around daycare, Like I get it, Like you want
• 9:52
  Speaker 2: to spend more time with your kid, but that is
• 9:55
  Speaker 2: a separate conversation. I think about, you know, having quality
• 9:58
  Speaker 2: time and enjoying your children and than having to work
• 10:02
  Speaker 2: and provide and put your kids into care. Like that's
• 10:04
  Speaker 2: a different conversation. Like I think we all want more
• 10:06
  Speaker 2: time with our kids. But like I'm not gonna lie.
• 10:09
  Speaker 2: Maybe this I don't know, definitely doesn't make me a
• 10:11
  Speaker 2: bad parent, but like I love a bit of a break,
• 10:14
  Speaker 2: Like I love that I get to go pick up
• 10:16
  Speaker 2: my baby from daycare in the afternoon and he's had
• 10:19
  Speaker 2: his day and I've had mine, and even if he
• 10:21
  Speaker 2: cracks it, I just don't have that mental load of
• 10:23
  Speaker 2: having had that all day.
• 10:24
  Speaker 3: And that's what I absolutely love about it. Like we
• 10:26
  Speaker 3: have three whole days together where it's just us and
• 10:29
  Speaker 3: we don't do washing, we don't do groceries, we don't
• 10:31
  Speaker 3: do chores. We just hang out and it's the best.
• 10:34
  Speaker 2: I adore that. And what does your partner or your
• 10:36
  Speaker 2: husband sorry.
• 10:37
  Speaker 3: Do So he is a youth worker as well or
• 10:40
  Speaker 3: youth mentor. He works on a school holiday program. So
• 10:43
  Speaker 3: during the week he does it, he does one like
• 10:46
  Speaker 3: support client, but yeah, he just does school holiday work mostly.
• 10:49
  Speaker 2: So you guys are super special people.
• 10:52
  Speaker 3: I love this, Thank you and yeah, and he receives
• 10:55
  Speaker 3: a comwell super pension for his time in defense.
• 10:57
  Speaker 2: Yeah, very cool.
• 10:58
  Speaker 3: He was medically discharged.
• 11:00
  Speaker 2: Yeah, oh, medically discharged is hard, but also like very deserved.
• 11:04
  Speaker 2: I love that. Yeah, I love that. You get that.
• 11:07
  Speaker 2: All right, So tell me what are your big money goals?
• 11:10
  Speaker 2: You said before, like, oh, we live regionally, We've built
• 11:13
  Speaker 2: our dream home, but we don't want this anymore. So
• 11:14
  Speaker 2: what do your goals look like?
• 11:16
  Speaker 3: Well, I discovered mortgage Monster the website. I'm not sure
• 11:19
  Speaker 3: if you're you're probably familiar. Yeah, So basically I went
• 11:22
  Speaker 3: down the rabbit hole with mortgage Monster, which told me
• 11:24
  Speaker 3: that if I made one twenty thousand dollars payment on
• 11:27
  Speaker 3: my mortgage, I would reduce it by five years and
• 11:29
  Speaker 3: like seventy five thousand dollars in interest.
• 11:31
  Speaker 2: So isn't it fun doing all the coalcs and being
• 11:33
  Speaker 2: like this is fun?
• 11:35
  Speaker 3: Yeah, literally, and I'm like obsessed. So that at the
• 11:38
  Speaker 3: moment is our big financial goal is to save that
• 11:41
  Speaker 3: twenty grand on top of our other little things to
• 11:43
  Speaker 3: get that mortgage payment down, and then we would like
• 11:46
  Speaker 3: to use our equity to buy a bush block. We
• 11:48
  Speaker 3: have off road buggies and follall drives and cord bikes
• 11:51
  Speaker 3: and things.
• 11:52
  Speaker 2: Oh you sound like you're living the dream. I want
• 11:54
  Speaker 2: to complay.
• 11:55
  Speaker 3: It is so much fun. We have a YouTube channel,
• 11:58
  Speaker 3: so that has kind of lit the fire, I guess
• 12:01
  Speaker 3: for us to get this bush block. And yeah, have
• 12:03
  Speaker 3: our little adventures.
• 12:04
  Speaker 2: Oh my gosh, Adore, And how has YouTube been going?
• 12:09
  Speaker 2: Is that something that you are able to monetize yet?
• 12:11
  Speaker 3: Yeah, so my husband was doing it prior to us meeting.
• 12:14
  Speaker 3: And we've had a lot of products. So we've built
• 12:17
  Speaker 3: both of our cars through sponsorship.
• 12:19
  Speaker 2: What this is so cool. This is not where I
• 12:22
  Speaker 2: thought this conversation would go.
• 12:23
  Speaker 3: I left it completely out I realized when I submitted.
• 12:26
  Speaker 2: But and you're like, oh, yes, this is also part
• 12:28
  Speaker 2: of my money story. Sorry.
• 12:29
  Speaker 3: Yeah that so, yeah, we've both built our cars and
• 12:32
  Speaker 3: things like that from sponsorship. We've not received any actual finances,
• 12:36
  Speaker 3: no money itself, but product and trips and that kind
• 12:39
  Speaker 3: of thing.
• 12:40
  Speaker 2: That's a very good deal.
• 12:41
  Speaker 3: Yeah, it's very cool.
• 12:42
  Speaker 2: That is a very good deal. I love that for
• 12:44
  Speaker 2: you guys, so obviously getting the bush block that long
• 12:48
  Speaker 2: term are their goals to retire early or you know,
• 12:52
  Speaker 2: be able to not work long term or like what
• 12:54
  Speaker 2: does that look like.
• 12:55
  Speaker 3: Yeah, so we would love to be sort of retired
• 12:58
  Speaker 3: by mid forties. And yeah, when our daughter is old
• 13:01
  Speaker 3: enough to attend high school, we would look to move
• 13:04
  Speaker 3: further away. When she has a little bit more independence,
• 13:07
  Speaker 3: we would look to move to our bush block.
• 13:08
  Speaker 2: Yeah. I feel like that's a smart way of going
• 13:10
  Speaker 2: about it, because it can be really hard for kids
• 13:14
  Speaker 2: when there's like a lot of I guess connection when
• 13:17
  Speaker 2: it comes to school and their social networks and stuff
• 13:19
  Speaker 2: like that being so far up. But also, I'm sorry,
• 13:22
  Speaker 2: it sounds lit like I would like to live there,
• 13:24
  Speaker 2: and I'm sure she would love it too, So whatever
• 13:26
  Speaker 2: works works.
• 13:28
  Speaker 3: Yeah, we're in the process of finding a container home
• 13:30
  Speaker 3: to renovate on marketplace to dump on there and spend
• 13:32
  Speaker 3: their weekends in the bush.
• 13:33
  Speaker 2: So that would be so fun. I am literally going
• 13:36
  Speaker 2: to snoop you later and then follow you on YouTube
• 13:38
  Speaker 2: because I don't want to miss any of this money direst.
• 13:41
  Speaker 2: Let's go to a really quick break and on the
• 13:42
  Speaker 2: flip side. I want to know about like your debt,
• 13:44
  Speaker 2: your best and worst money habits, and whether you're investing
• 13:47
  Speaker 2: or not. All right, guys, we are back money diarist.
• 13:54
  Speaker 2: I feel like you have a rollercoaster of a story,
• 13:56
  Speaker 2: but it sounds like you are laser focused at the
• 13:58
  Speaker 2: moment on smashing down your debt. Will talking about how
• 14:00
  Speaker 2: you'd calculated that a twenty thousand dollar payment on your
• 14:04
  Speaker 2: mortgage would cut so much time off it. I want
• 14:07
  Speaker 2: to know, apart from your mortgage and smashing that down,
• 14:09
  Speaker 2: do you invest? If so, what does that look like.
• 14:12
  Speaker 3: I only have my superannuation at the moment, which is
• 14:15
  Speaker 3: currently sitting at just over ninety five thousand dollars.
• 14:19
  Speaker 2: Hey, that's not too bad for thirty one.
• 14:21
  Speaker 3: Yeah, so I didn't receive super for the three years
• 14:24
  Speaker 3: that I was on workover. You don't receive super, so.
• 14:27
  Speaker 2: I was about to ask. I was like, hey, pervy question,
• 14:30
  Speaker 2: but did you receive superannuation while you're on work cover?
• 14:33
  Speaker 2: No is the answer.
• 14:34
  Speaker 3: I did not receive superannuation. However, I previously and they've
• 14:38
  Speaker 3: closed down now. But I was with the super company
• 14:41
  Speaker 3: who had a round up feature similar to our bank,
• 14:44
  Speaker 3: and so every day I would pay for my parking
• 14:46
  Speaker 3: and another fifty cents would go into my super for
• 14:49
  Speaker 3: about five years, so that was a handy little addition.
• 14:52
  Speaker 3: And I also put my own voluntary contributions in every
• 14:55
  Speaker 3: month as well.
• 14:56
  Speaker 2: That's very cool and also very savvy. Is that something
• 14:59
  Speaker 2: that you I knew Okay, well I'm not you know,
• 15:02
  Speaker 2: earning an income like I was. I'm not getting super paid.
• 15:05
  Speaker 2: I need to be supporting this or is this something
• 15:07
  Speaker 2: that you were just doing for you know, funsies and
• 15:09
  Speaker 2: you knew it was good, but weren't entirely sure, Like
• 15:11
  Speaker 2: how did you fall upon making sure that you were
• 15:13
  Speaker 2: looking after your super because it's so important.
• 15:16
  Speaker 3: This was something I when I got my very first job.
• 15:19
  Speaker 3: I started working when I was twelve, and I got
• 15:22
  Speaker 3: like the superform and I was like, what is superannuation?
• 15:25
  Speaker 3: Because I'm twelve and it was the only thing I
• 15:28
  Speaker 3: looked into. I didn't know anything about tax or anything
• 15:29
  Speaker 3: like that, and I was like, this is amazing. I
• 15:32
  Speaker 3: don't want to work till i'm one hundred. My little
• 15:34
  Speaker 3: twelve year old mine was thinking. So yeah, I was
• 15:37
  Speaker 3: like I need to save here, and I've just kept
• 15:39
  Speaker 3: it up.
• 15:40
  Speaker 2: I love this because when I got my superformer, I
• 15:42
  Speaker 2: was like, oh, just take whatever box, it doesn't matter.
• 15:44
  Speaker 2: I don't even care. What is this? Why is the
• 15:46
  Speaker 2: government wore my money? Like I had no idea. So
• 15:49
  Speaker 2: I'm glad that you were smarter than me, because honestly,
• 15:52
  Speaker 2: you have more superannuation than I do at this point
• 15:54
  Speaker 2: in my life. All right, tell me a bit more
• 15:57
  Speaker 2: about debt. So you purchased your dream home regionally? What
• 16:01
  Speaker 2: did it cost you? What debt are you currently sitting on?
• 16:04
  Speaker 3: So my husband is a very smart man. He deployed
• 16:07
  Speaker 3: to Afghanistan.
• 16:08
  Speaker 2: Yes, he married you, so thank you.
• 16:11
  Speaker 3: When he was very young. So he was nineteen when
• 16:13
  Speaker 3: he went over, and.
• 16:15
  Speaker 2: He was just a baby.
• 16:16
  Speaker 3: He was a baby. And as a mother, now I
• 16:19
  Speaker 3: said to my mother in law, how did you stand
• 16:21
  Speaker 3: in the airport and wave him? I just couldn't anyway,
• 16:24
  Speaker 3: What did you say? Because that would have been so painful.
• 16:26
  Speaker 3: So we don't have any sort of religious ties in
• 16:29
  Speaker 3: our family. But my father in law actually jumped in
• 16:31
  Speaker 3: and said, we prayed every day. Oh my god, I know, horrible.
• 16:34
  Speaker 2: But he came home. He came home now a dad
• 16:37
  Speaker 2: and a husband, and it all worked out.
• 16:40
  Speaker 3: Yes, and we're very very thankful every day. So he
• 16:44
  Speaker 3: very smart. Defense had a scheme at the time where
• 16:48
  Speaker 3: if you purchased a property, they would pay a contribution
• 16:52
  Speaker 3: towards your mortgage, so they would pay half your payment.
• 16:55
  Speaker 2: Basically, wow, I mean deserved, yes.
• 16:58
  Speaker 3: Very well deserved. Husband was like, will you pay half
• 17:03
  Speaker 3: the payment if I make the full payment? And they still.
• 17:05
  Speaker 2: Said yes, so he yes, please.
• 17:09
  Speaker 3: So he was paying a payment and a half instead
• 17:12
  Speaker 3: of yeah, just the full payment. And that's something we've continued,
• 17:15
  Speaker 3: not a payment and a half, but rounding our mortgage
• 17:18
  Speaker 3: payment up so we have rounded up to the nearest thousand.
• 17:23
  Speaker 3: So while we have been hit with rate rises, our
• 17:25
  Speaker 3: actual budget hasn't changed because we were just rounding up
• 17:29
  Speaker 3: to the nearest thousand anyway. So our current repayment is
• 17:32
  Speaker 3: about nineteen hundred a month and we pay two thousand
• 17:35
  Speaker 3: and have been doing for however long.
• 17:36
  Speaker 2: I love that. That's so smart and like over the
• 17:39
  Speaker 2: long term it will pay off.
• 17:41
  Speaker 3: Yes, yeah, definitely, and yeah, just to cover us from
• 17:44
  Speaker 3: any kind of increases, I guess. So we sold his
• 17:47
  Speaker 3: property that he owned for six hundred and seventy seven thousand,
• 17:51
  Speaker 3: which he purchased it for three hundred and seventy. Okay, yeah,
• 17:56
  Speaker 3: so he had two hundred and sixty thousand left on
• 17:59
  Speaker 3: it on the mortgage when we sold it for six
• 18:02
  Speaker 3: seventy seven.
• 18:03
  Speaker 2: Okay, what a king.
• 18:04
  Speaker 3: We had about three hundred thousand dollars in profit by
• 18:07
  Speaker 3: the end, I think, which gave us a really hefty deposit.
• 18:11
  Speaker 3: We had a land and a house mortgage because we
• 18:13
  Speaker 3: built our home. So we bought our land for about
• 18:18
  Speaker 3: two hundred and thirty four thousand, and we spent four
• 18:20
  Speaker 3: hundred and fourteen thousand on our build.
• 18:22
  Speaker 2: That is so good. So what debt do you currently like?
• 18:25
  Speaker 2: What is your mortgage setting at today?
• 18:27
  Speaker 3: So our current mortgage sits at three hundred and seven
• 18:30
  Speaker 3: nine hundred and thirty five dollars and eight.
• 18:32
  Speaker 2: That is very cool. And do you know what your
• 18:34
  Speaker 2: property is worth? So we had it.
• 18:36
  Speaker 3: Valued a couple of weeks ago for nine hundred and
• 18:40
  Speaker 3: seventy five thousand.
• 18:42
  Speaker 2: However, our neighbour's.
• 18:44
  Speaker 3: House just sold for over a million, the difference being
• 18:48
  Speaker 3: they have a pool, but we have more land and
• 18:50
  Speaker 3: a big shed and other features and things.
• 18:52
  Speaker 2: Oh, we don't need a poll. Whoever buys your property,
• 18:55
  Speaker 2: they can put a pool on it if they want.
• 18:57
  Speaker 3: Right, So yeah, I think we'd sit roughly even with
• 19:00
  Speaker 3: them just based on the market and what they got.
• 19:02
  Speaker 2: At about a meal. How nice. I love that for you.
• 19:05
  Speaker 2: You guys are sitting very comfortably to be able to
• 19:08
  Speaker 2: achieve everything that you want to achieve. I need to know, though,
• 19:12
  Speaker 2: I feel like you've had to be savvy over your
• 19:14
  Speaker 2: lifetime when it comes to money. What is your best
• 19:16
  Speaker 2: money habit?
• 19:17
  Speaker 3: My best money habit, I would say I've only developed
• 19:20
  Speaker 3: in the last twelve months, and that's knowing where our
• 19:22
  Speaker 3: money goes. I said when I wrote in that we
• 19:25
  Speaker 3: spent ten thousand dollars on coffee, and I nearly hit
• 19:27
  Speaker 3: the floor.
• 19:28
  Speaker 2: How did you do that? By the way, because that's
• 19:30
  Speaker 2: like twenty seven dollars fifty a day.
• 19:32
  Speaker 3: That's a lot.
• 19:33
  Speaker 2: So like, that's not just like coffee a day, bab.
• 19:35
  Speaker 3: So it was like coffee and treats and a snack.
• 19:38
  Speaker 2: And like a little treaty treat. Yeah. Look, I am
• 19:41
  Speaker 2: not mad. I am just interested in people having complete
• 19:44
  Speaker 2: visibility over their cash flow. And if you turn around
• 19:46
  Speaker 2: and said, Vibe, that's what I want to spend my
• 19:48
  Speaker 2: money on, pop off queen, Like I want that for you.
• 19:51
  Speaker 2: But you looked into it and said, absolutely not. What
• 19:54
  Speaker 2: is this.
• 19:54
  Speaker 3: We're not doing this.
• 19:55
  Speaker 2: Yeah, we're not doing this anymore.
• 19:57
  Speaker 3: Being able to go to the supermarket or get fuel,
• 20:00
  Speaker 3: do something now and not require retreat has been a
• 20:02
  Speaker 3: real game changer for me to do adult things without
• 20:05
  Speaker 3: treating myself.
• 20:06
  Speaker 2: What. No, I'm not past that.
• 20:08
  Speaker 3: I still get on the day the one day that
• 20:10
  Speaker 3: I actually go into work that I don't work from home,
• 20:12
  Speaker 3: I do get myself for coffee on the days that
• 20:13
  Speaker 3: I go to work. It's my little Yeah.
• 20:15
  Speaker 2: There has to be some level of balance. You can't
• 20:17
  Speaker 2: just go cold turkey, especially on coffee.
• 20:19
  Speaker 3: Well, we did buy coffee machine, which I didn't learn
• 20:22
  Speaker 3: to use for about eighteen months. Was just a very
• 20:23
  Speaker 3: expensive kettle.
• 20:24
  Speaker 2: But I've said lunch and now now we use I
• 20:28
  Speaker 2: love that though. I feel like you're doing all of
• 20:31
  Speaker 2: the right things. I feel like you're moving in the
• 20:33
  Speaker 2: right direction now. Not spending twenty seven bucks a day
• 20:36
  Speaker 2: on coffee and where is that reallocated too?
• 20:39
  Speaker 3: Yeah, so we now have like a set budget that
• 20:42
  Speaker 3: we you know, each week we aim to spend this
• 20:44
  Speaker 3: much on groceries. And you know, for a long time,
• 20:47
  Speaker 3: my head was in the sand about the cost of living.
• 20:49
  Speaker 3: So I'm like, why can't we buy groceries for our
• 20:50
  Speaker 3: hundred bucks a week? Well, because that's not the time
• 20:52
  Speaker 3: we live in.
• 20:53
  Speaker 2: It's a hard realization to come to, isn't it like,
• 20:55
  Speaker 2: Cause you're like, no, no, no, I'll do it for
• 20:57
  Speaker 2: one hundred though, and then it just it never comes
• 20:59
  Speaker 2: out in the wash.
• 21:00
  Speaker 3: No. And my husband never had a budget prior to
• 21:02
  Speaker 3: us meeting. He's like, why do I need a budget?
• 21:03
  Speaker 3: I have plenty of money.
• 21:04
  Speaker 2: It must be nicer, But that's not the world we
• 21:07
  Speaker 2: live in now.
• 21:08
  Speaker 3: Well, I think trying to manage the two incomes at
• 21:10
  Speaker 3: the time as well, like we could you know. So yeah,
• 21:13
  Speaker 3: so now having a budget, knowing where our money goes.
• 21:15
  Speaker 3: And we're really really good at paying off debt. So
• 21:18
  Speaker 3: we paid privately to birth our daughter and we paid
• 21:23
  Speaker 3: that on a credit card, and we took out a
• 21:25
  Speaker 3: twenty five thousand dollar credit card just in case there
• 21:27
  Speaker 3: were any complications and things like that, and yeah, it
• 21:31
  Speaker 3: cost us just over nine and a half and we
• 21:34
  Speaker 3: just smashed that and got rid of it. So we're
• 21:36
  Speaker 3: really good at, yeah, smashing down debt when it appears.
• 21:39
  Speaker 2: That's very cool. Can you tell me a bit more
• 21:41
  Speaker 2: about that because birth there's so much more expensive than
• 21:44
  Speaker 2: I had anticipated it to be, right, And that might
• 21:47
  Speaker 2: be a little bit delulu from me, I suppose, because
• 21:51
  Speaker 2: I had, like, you know, my private health insurance, and
• 21:54
  Speaker 2: then I went and got my obstetrician. But like, I
• 21:56
  Speaker 2: ended up paying her ten thousand dollars out of pocket
• 21:59
  Speaker 2: that wasn't by Medicare. And I am grateful that I
• 22:03
  Speaker 2: could have thought that, but I was really shocked that
• 22:05
  Speaker 2: that portion of you know, the birth cost was not covered.
• 22:09
  Speaker 2: I was like, sorry, what, Like, I already have private
• 22:12
  Speaker 2: health insurance. So when you say you paid to birth
• 22:15
  Speaker 2: your child privately, do you mean that you didn't have
• 22:19
  Speaker 2: private health insurance and you paid as just like a
• 22:21
  Speaker 2: paying client to pay to birth in a private hospital
• 22:25
  Speaker 2: or were you talking about additional costs that also exist?
• 22:29
  Speaker 3: So we had no private health insurance? We did, And
• 22:32
  Speaker 3: then I was well, I had private health insurance. My
• 22:35
  Speaker 3: husband's covered under DBA, so he doesn't, but we when
• 22:40
  Speaker 3: I had pregnancy and birth cover and I rung my insurer.
• 22:43
  Speaker 3: Turns out the pregnancy and birth didn't cover the actual birthing.
• 22:46
  Speaker 2: Yeah, isn't it insane?
• 22:47
  Speaker 3: And that was me and my young naivety just assuming
• 22:49
  Speaker 3: that pregnant. I didn't read it. I'm not pregnant. I
• 22:51
  Speaker 3: don't want a family. You know, Pregnancy and birth is
• 22:53
  Speaker 3: pregnancy and birth, you know, but it's not so you know,
• 22:56
  Speaker 3: it covered other things, but not that. And so we
• 23:00
  Speaker 3: decided to save the money that we were spending on
• 23:02
  Speaker 3: private health insurance and put towards the cost of birthing.
• 23:04
  Speaker 3: We had had a loss prior to having our daughter,
• 23:07
  Speaker 3: and so I'm sorry, yeah, I know you can you
• 23:10
  Speaker 3: can relate to that.
• 23:11
  Speaker 2: It's real shit, like it's the shittiest club in the
• 23:14
  Speaker 2: entire world.
• 23:14
  Speaker 3: And we found out falling pregnant with my daughter that
• 23:17
  Speaker 3: there was a very simple reason that we had lost
• 23:19
  Speaker 3: our previous pregnancy that could have been very much avoided
• 23:21
  Speaker 3: had no blood has been done, and so yeah, that
• 23:25
  Speaker 3: was really difficult for me. And I just said, we're
• 23:27
  Speaker 3: paying like I'm not having an oversight happened again, you know,
• 23:31
  Speaker 3: and that I'm sure there are great public health care workers,
• 23:34
  Speaker 3: you know, where those things don't.
• 23:35
  Speaker 2: Happen, but one hundred percent, one hundred percent.
• 23:38
  Speaker 3: Yeah, that was our experience, and I wasn't prepared to
• 23:40
  Speaker 3: do that again.
• 23:40
  Speaker 2: But if you're in the financial position to make that decision,
• 23:43
  Speaker 2: and that's what makes you comfortable. It's kind of like
• 23:46
  Speaker 2: going shoe shopping, right, you could go to kmart and
• 23:48
  Speaker 2: you could be really happy with that, or you could
• 23:50
  Speaker 2: go and buy a really fancy pair of shoes. Like
• 23:53
  Speaker 2: same outcome. You're wearing shoes full stop, end of story.
• 23:56
  Speaker 2: But like, it's what makes you comfortable, and no one
• 23:59
  Speaker 2: can tell you how to feel. No one gets the
• 24:01
  Speaker 2: power to go well, actually, moneyed diarist, you should have
• 24:04
  Speaker 2: just done it this way. No, no, no, I picked
• 24:06
  Speaker 2: what I felt comfortable with and was within my financial realm.
• 24:10
  Speaker 2: It doesn't mean that you think that your situation is
• 24:13
  Speaker 2: what everybody else should do, like it's It actually drives
• 24:17
  Speaker 2: me insane when people are like, so you think that
• 24:19
  Speaker 2: everyone should go private, and I'm like, no, I think
• 24:21
  Speaker 2: you should just make a decision that works for you
• 24:23
  Speaker 2: one p.
• 24:24
  Speaker 3: One hundred percent. And I have endometriosis and a few
• 24:28
  Speaker 3: other things going on, so I was like, I'm not,
• 24:30
  Speaker 3: you know, I.
• 24:30
  Speaker 2: Feel comfy here, let me stay that's right.
• 24:33
  Speaker 3: I'm like, I want to be able to go to
• 24:35
  Speaker 3: the doctor and they know my years of history and surgery,
• 24:38
  Speaker 3: and you know, we can just get it all sort of. So, yeah,
• 24:41
  Speaker 3: we took out our credit card on the off chance
• 24:42
  Speaker 3: that our baby ended up, you know, needing special care
• 24:44
  Speaker 3: or anything like that, we would be able to cover it. Luckily,
• 24:47
  Speaker 3: we didn't need anything like that. We were very lucky.
• 24:49
  Speaker 3: So yeah, she ended up coming via emergency section and
• 24:53
  Speaker 3: we stayed for three days and that cost us just
• 24:57
  Speaker 3: under nine and a half thousand dollars, and then we
• 25:00
  Speaker 3: paid our obstetrition about one hundred dollars a visit, getting
• 25:03
  Speaker 3: half of that back from Medicare.
• 25:04
  Speaker 2: Yeah cool, Yeah, how good. I love that that was
• 25:08
  Speaker 2: good for you. I mean, emergency SEA section sucks. As
• 25:10
  Speaker 2: somebody who also had an emergency C section, I don't
• 25:14
  Speaker 2: rate it. But like, we're both happy, we're both healthy,
• 25:16
  Speaker 2: we're both here.
• 25:17
  Speaker 3: Yeah, definitely. And you know, my daughter still doesn't play
• 25:20
  Speaker 3: the game when we've got somewhere to be, so she
• 25:22
  Speaker 3: wasn't playing the game than either.
• 25:23
  Speaker 2: So yeah, look, neither does Harvey. Don't worry, Do not worry,
• 25:27
  Speaker 2: money director. On the flip side, what's your worst money habit?
• 25:30
  Speaker 3: My worst money habit is and it might be a
• 25:32
  Speaker 3: bit of a funny one. I guess I don't like
• 25:35
  Speaker 3: to spend money, so like, if I need something, I'll
• 25:39
  Speaker 3: buy the cheaper option, probably having to replace it in
• 25:43
  Speaker 3: a month and buy it again. And I'm starting to
• 25:46
  Speaker 3: do that slow down and make more purchases that are
• 25:49
  Speaker 3: more sort of quality and might be that higher price point.
• 25:53
  Speaker 2: Do you think your money story plays into that? Like,
• 25:55
  Speaker 2: why do you think that that's a decision that you're
• 25:57
  Speaker 2: always like, mmm, I'll just get the cheap one. Where
• 26:00
  Speaker 2: does that come from? Yeah?
• 26:01
  Speaker 3: I think definitely. There was a time before I met
• 26:05
  Speaker 3: my husband where I slept a little bit rough and
• 26:08
  Speaker 3: had to I lived in a friend's investment property that
• 26:10
  Speaker 3: had nothing in it, and you know, I had to
• 26:13
  Speaker 3: just get the cheap of the cheap kind of stuff
• 26:15
  Speaker 3: because that's all I could have fought at the time.
• 26:17
  Speaker 3: And I think I've just carried that with me. I
• 26:18
  Speaker 3: carry a very sort of scarcity mindset around money and
• 26:21
  Speaker 3: I'm trying to really flip that.
• 26:23
  Speaker 2: Yeah, and I feel like that's so powerful, But at
• 26:26
  Speaker 2: the same time, you need to understand where you've come
• 26:28
  Speaker 2: from or where that might be coming from to go, actually,
• 26:30
  Speaker 2: we're not there anymore, Like we're allowed to move past this,
• 26:33
  Speaker 2: But how do I do that? That's a different story. Yes, definitely,
• 26:36
  Speaker 2: and that can be really challenging. But I'm so proud
• 26:38
  Speaker 2: of you. Look at you go like you have absolutely
• 26:41
  Speaker 2: killed it. You've got a beautiful daughter. You're focusing on
• 26:44
  Speaker 2: your finances. I mean, you're not spending twenty seven dollars
• 26:47
  Speaker 2: fifty a day on coffee, which is a massive sleigh.
• 26:50
  Speaker 2: You're saving. I'm so excited that you mentioned mortgage monster
• 26:54
  Speaker 2: because it's so fun working out what your I guess
• 26:57
  Speaker 2: repayments could be, or like what additional contributions look like,
• 27:02
  Speaker 2: and how you can get out of debt sooner. Like
• 27:04
  Speaker 2: it's just so motivating, Like that is very exciting. But
• 27:08
  Speaker 2: I just I love all of this. And I also
• 27:10
  Speaker 2: love our conversation about daycare because I think there's so
• 27:13
  Speaker 2: much shade being thrown around about like, oh, I don't
• 27:15
  Speaker 2: have to have somebody else raise my children. It's like
• 27:18
  Speaker 2: get in the bin, literally, get in the bin. Like
• 27:21
  Speaker 2: my kid loves daycare. I love daycare. Daycare is our
• 27:24
  Speaker 2: village and everybody who's thriving. Thank you for asking.
• 27:29
  Speaker 3: Yeah, I love it.
• 27:30
  Speaker 2: Money di is. Now we've talked and you've told me
• 27:32
  Speaker 2: how much of a hustle you are, Like you grew
• 27:34
  Speaker 2: up with a single mum in a not so great situation.
• 27:37
  Speaker 2: You learned a lot. I feel like you've been through
• 27:39
  Speaker 2: the trenches and now you're out the other side and
• 27:42
  Speaker 2: you are absolutely pulling your socks up and getting your
• 27:45
  Speaker 2: money story together. You've got ninety five grand in super
• 27:48
  Speaker 2: be for real, Like, that's so much money. I would
• 27:50
  Speaker 2: not have expected that, especially when you said, look, I
• 27:53
  Speaker 2: went through a work cover incident, was off for three years,
• 27:55
  Speaker 2: obviously limited my career options and how that's going to grow.
• 27:59
  Speaker 2: But you've got it nearly one hundred thousand dollars in superannuation,
• 28:03
  Speaker 2: Like it sounds like you're killing it. But you also
• 28:05
  Speaker 2: said that we receive what would it take to get
• 28:08
  Speaker 2: to an a to.
• 28:09
  Speaker 3: Be confident investing in more than just my super I'm
• 28:13
  Speaker 3: very much and this comes from that scarcity mindset, like
• 28:15
  Speaker 3: a bricks and mortar kind of person. I would buy
• 28:16
  Speaker 3: an investment property before I would buy a share. But
• 28:20
  Speaker 3: in saying that the bank of Pop who always had
• 28:22
  Speaker 3: the credit card ready came from shares, So.
• 28:25
  Speaker 2: I love that. You're like, maybe there is something to that.
• 28:28
  Speaker 3: Yeah, definitely, but yeah, I think just investing and trying
• 28:33
  Speaker 3: to find I guess consistent income for me would get
• 28:37
  Speaker 3: me more to that A. I think work covers a
• 28:39
  Speaker 3: tricky beast to be involved in and there's a lot
• 28:42
  Speaker 3: of additional costs and things that they don't kind of
• 28:44
  Speaker 3: share with you. So that's impacted us a fair bit.
• 28:46
  Speaker 2: Yeah, that's really stressful, well, money direst Unfortunately, that is
• 28:50
  Speaker 2: all we have time for today. It has been a pleasure.
• 28:52
  Speaker 2: Thank you so much for sharing some of your story
• 28:55
  Speaker 2: with us. I love where you're going, and I hope
• 28:57
  Speaker 2: that in a couple of years you're like, hey, be
• 28:59
  Speaker 2: can we do an updated money diary because everything has changed.
• 29:03
  Speaker 2: I just feel like that will be so cool.
• 29:05
  Speaker 3: Yes, we'll have to do it in person on the Bushblock.
• 29:07
  Speaker 2: Yes, please please, I want to explore so thank you
• 29:10
  Speaker 2: so much for joining us. I know that the community
• 29:12
  Speaker 2: has adored this just as much as I have, and
• 29:14
  Speaker 2: I hope that we get to cross paths in person
• 29:16
  Speaker 2: at some point.
• 29:17
  Speaker 3: Perfect. Thank you so much.
• 29:24
  Speaker 2: The advice shared on She's on the Money is general
• 29:27
  Speaker 2: in nature and does not consider your individual circumstances. She's
• 29:31
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• 29:34
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• 29:38
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• 29:40
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  Speaker 2: authorized representatives of money. Sheirper Pty Ltd ABN three two
• 29:53
  Speaker 2: one IS six four nine two seven seven zero eight
• 29:56
  Speaker 2: AFSL four five one two eight nine.
• 30:00
  Speaker 3: Impact the steer