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MONEY DIARIES: Breaking the Cycle to Build Stability · 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 Kerney 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. She's on the Money. She's on
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Speaker 2: the Money. Hello, and welcome to She's on Them, the
1:00
Speaker 2: podcast of millennials who want financial freedom. Welcome back to
1:04
Speaker 2: another one of our moneydarries where I get the absolute
1:07
Speaker 2: pleasure of sitting down with one of our incredible She's
1:10
Speaker 2: on the Money community members and learning all about their journey.
1:14
Speaker 2: Let's jump straight into it, because this week I got
1:16
Speaker 2: a message and it went like this, Hi V I've
1:20
Speaker 2: gone from living in government housing and moving twenty plus
1:24
Speaker 2: times before the age of fifteen to owning my home
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Speaker 2: and business. I'd love to talk more about my story
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Speaker 2: of breaking the cycle of financial instability I grew up
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Speaker 2: with and building a more stable future. Ah, money, Doris,
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Speaker 2: So I want to talk about that too. That's so cool.
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Speaker 3: Yes, I'm pretty proud.
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Speaker 4: It's been a journey, but yeah, I'm very proud of us.
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Speaker 3: Life that we've created.
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Speaker 2: Does sound like a journey, like it sounds like a
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Speaker 2: very hard journey, because like it doesn't sound like and
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Speaker 2: I'm assuming here that there was probably not a lot
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Speaker 2: of support on the flip side is obviously coming from
2:01
Speaker 2: government housing. You don't have the role models that you
2:04
Speaker 2: probably have become for your own kids, which is very
2:07
Speaker 2: very cool. Yes, let's jump into it though, because I'm
2:11
Speaker 2: very excited about this. As always, I start the episode
2:14
Speaker 2: with the same question and people are probably bored of it,
2:17
Speaker 2: but there is a purpose to it. Money Diarist, what
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Speaker 2: grade would you give your money habits if I asked
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Speaker 2: you to grade them from an eight through to an F.
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Speaker 4: I have tried to put some thought into this, and
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Speaker 4: I think I would give myself a B minus at
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Speaker 4: the moment.
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Speaker 2: Be minus. Yeah, your story tells me you're an A plus,
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Speaker 2: so I probably have to argue later.
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Speaker 3: A few years ago, it probably would have been a
2:39
Speaker 3: bit lower.
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Speaker 4: But we've worked hard and I've got some really good
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Speaker 4: role models now, and I've worked hard to get where
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Speaker 4: I am with my job, and we've got some things
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Speaker 4: lined up for the future, so we know where we
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Speaker 4: want to be.
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Speaker 3: It's just taking some time.
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Speaker 2: That's very exciting, all right, money Diaris next question is
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Speaker 2: also my favorite. Can you dive in and tell me
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Speaker 2: a little bit more about your money story?
3:02
Speaker 3: I can so.
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Speaker 4: Yeah.
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Speaker 3: I guess we had an interesting upbringing.
3:05
Speaker 4: I was born and raised sort of in Melbourne, but
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Speaker 4: relocated to Queensland when I was really young, and then
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Speaker 4: ever since then it was probably moving every.
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Speaker 3: Three to six months. We moved houses my mom and
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Speaker 3: my stepdad.
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Speaker 4: There was no yeah, no stability, changing jobs really frequently.
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Speaker 4: When we moved up, I was under ten years old.
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Speaker 4: I didn't really grasp what was going on behind the scenes,
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Speaker 4: but obviously as I grew up I could tell that
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Speaker 4: they just couldn't manage their finances themselves and that just
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Speaker 4: continued on for Yeah. I think I ended up moving
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Speaker 4: out of home when I was about sixteen, So from
3:39
Speaker 4: the ages of yeah, six or sixteen, we just moved
3:43
Speaker 4: every few months. I think as long as we were
3:45
Speaker 4: in a home was probably eight or nine months. And yeah,
3:48
Speaker 4: like I said, as I grew up, I just knew
3:50
Speaker 4: that I wanted to break that cycle. I didn't want
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Speaker 4: that from my future and my kids when it came time,
3:55
Speaker 4: so I just worked really hard. My mum and my
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Speaker 4: stepdad had purchased a business that they just didn't have
4:00
Speaker 4: any idea how to run properly, so of course that
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Speaker 4: ended happened bankruptcy. And yeah, I could sense there was
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Speaker 4: stuff going on behind the scenes, but I didn't know
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Speaker 4: as much as I do now. So yeah, I think
4:12
Speaker 4: it's shaped me into who I am today. And I
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Speaker 4: weirdly am thankful for those experiences because it has just
4:20
Speaker 4: shown me how I don't want to be as brutals
4:23
Speaker 4: as that might sound. But it's been a blessing in
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Speaker 4: disguise because it's shown me how hard I can work
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Speaker 4: and what I can prove that I can do.
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Speaker 2: It's epic. I love when people are using their stories
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Speaker 2: and actually like growing from them because I think it's
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Speaker 2: so easy to fall into such a similar cycle. Right,
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Speaker 2: It's been role modeled for you, so it makes sense.
4:43
Speaker 2: And I think a lot of the time, if those
4:45
Speaker 2: are the role models that you've been shown. You just
4:47
Speaker 2: assume that's how life works, and you often find that
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Speaker 2: and you know, this isn't me stereotyping, it's just kind
4:54
Speaker 2: of the way it is. It's why there's always like
4:56
Speaker 2: a debt cycle, or a trauma cycle, or even an
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Speaker 2: abuse I call in a family like it goes from
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Speaker 2: generation to generation because you literally just learn from the
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Speaker 2: things that are around you that this is acceptable, this
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Speaker 2: is what happens, this is how it is. Like what
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Speaker 2: you could have learned from that is that business is
5:13
Speaker 2: really scary. You will go bankrupt. It will, you know,
5:15
Speaker 2: consume you and be awful. But that's clearly not what
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Speaker 2: you've taken from it. And I just I get so
5:20
Speaker 2: excited talking to people with this mindset of growth over
5:25
Speaker 2: you know, just status quo and go, well, where did
5:27
Speaker 2: you get that? Because like, your parents clearly didn't teach
5:30
Speaker 2: you that, Like, no, it's wild.
5:33
Speaker 3: Yeah.
5:34
Speaker 4: I think I have my brother to thank for that.
5:37
Speaker 4: He's about seven years older than I am, and he
5:39
Speaker 4: was the first one to kind of be like, no,
5:41
Speaker 4: this isn't going to be my life. So he went
5:43
Speaker 4: off and he worked away. He still works tying flyout.
5:47
Speaker 4: So I'm really close with him and my sister in Laura,
5:49
Speaker 4: and I've got n for nephews, and we're just we
5:52
Speaker 4: often talk about the way that our parts could have gone,
5:55
Speaker 4: and it's we're both just turned it around and it's
5:57
Speaker 4: gone the other way. So I adore that Mum's no
5:59
Speaker 4: longer here with us, but I know that she'd be
6:01
Speaker 4: super proud regardless of what she went through.
6:04
Speaker 2: Yeah, of course she'd be super proud. Like I feel
6:07
Speaker 2: like when you reflect on it, and you know, talk
6:09
Speaker 2: to people who grew up in that circumstance, they always
6:12
Speaker 2: want better for their kids, and they always want their
6:15
Speaker 2: kids to like thrive and flourish. And she's got that, Like,
6:19
Speaker 2: how good is that? That's illeed? All right? Well, next
6:23
Speaker 2: question I've got is I want to know. You told
6:26
Speaker 2: us you have a business, So let's dive in. What
6:28
Speaker 2: do you do for work? How much money do you earn?
6:31
Speaker 4: So I work in human resources. I finished school. I
6:36
Speaker 4: took a few years to decide what I wanted to do.
6:38
Speaker 4: I went to UNI and child a degree that it
6:40
Speaker 4: wasn't for me. So then I went off traveling for
6:42
Speaker 4: a year and I came back and I had a
6:43
Speaker 4: real good think about it and In that time, I'd
6:45
Speaker 4: met my partner and he was studying as well, so
6:48
Speaker 4: I kind of really had a good think about what
6:51
Speaker 4: my interests were landed at human resources and I smashed
6:54
Speaker 4: out my degree and before that was finished, I actually
6:57
Speaker 4: managed to secure the job that I'm in now. So
6:59
Speaker 4: that was my first sort of HR gig as an administrator,
7:03
Speaker 4: just at a local resort here. And yeah, I'm still
7:06
Speaker 4: there today, nearly five years on. Just been working my
7:09
Speaker 4: way through. We've got a small team at a big
7:12
Speaker 4: employee base, so it's taught me a lot.
7:14
Speaker 3: But currently I'm on seventy k plus.
7:17
Speaker 2: Super very nice.
7:19
Speaker 3: Yeah, so I guess I'm just going to keep chipping
7:22
Speaker 3: away at that.
7:23
Speaker 2: And yeah, excarty elite. So you've got a full time
7:29
Speaker 2: HR job and a side hustle. You said, do you
7:33
Speaker 2: have your own business? You're going to have to tell
7:34
Speaker 2: us all about that, what's that look like and how
7:37
Speaker 2: does that work?
7:38
Speaker 4: So I started that when I was on maternity leave
7:41
Speaker 4: with my son a few years ago. So it's a
7:43
Speaker 4: bit of a candles and home fragrance. It was just
7:46
Speaker 4: a hobby that I picked up has something to do
7:49
Speaker 4: in my time at home when I wasn't mumming and
7:52
Speaker 4: it was great.
7:53
Speaker 3: I just fell in love with it because it gave.
7:54
Speaker 4: Me that sort of creative outlet and just something I
7:57
Speaker 4: could do for myself. And then I just kept at it,
8:00
Speaker 4: kept at it, and everyone was loving them.
8:03
Speaker 3: So I thought, why not turn this into a little
8:04
Speaker 3: bit of a side hustle.
8:05
Speaker 4: So, yeah, that's kind of grown a little bit from there,
8:09
Speaker 4: and I wanted to set it up in a way
8:11
Speaker 4: that I could when I wanted to commit some more
8:13
Speaker 4: time to what I could.
8:15
Speaker 3: But obviously I knew that I would return to my full.
8:17
Speaker 4: Time job after my leave was up, so I just
8:20
Speaker 4: let it kind of simmer in the background and I
8:22
Speaker 4: do it ad hoc. But now that I'm on maternity
8:24
Speaker 4: leave with my second as well, I've been able to
8:25
Speaker 4: give it some real love and watch it grow again,
8:27
Speaker 4: which has been super exciting. But it is just something
8:31
Speaker 4: I do slowly. You know, I've got two kids, so
8:33
Speaker 4: it's a big ask to get it all done.
8:37
Speaker 2: It's more of a side hustle at this point. It
8:39
Speaker 2: is how much income would it bring in?
8:42
Speaker 4: I think probably it sits around you know, probably about
8:45
Speaker 4: six or seven k annually at the moment.
8:47
Speaker 2: Hey, that's very nice.
8:50
Speaker 4: Yeah, so it's something It helps, Definitely, it helps, and
8:53
Speaker 4: I am just doing it at the moment just because
8:55
Speaker 4: I love it. And like I said, it gives me
8:57
Speaker 4: that creative space away from the kids, not at work,
9:00
Speaker 4: to just have something for me.
9:02
Speaker 2: No, I love it. I love talking about this because
9:04
Speaker 2: I think so many times when you like speak to
9:07
Speaker 2: people who don't have side hustles or businesses, there's this
9:11
Speaker 2: massive assumption that to start a business or start a
9:14
Speaker 2: side hustle means you have to like go all in
9:17
Speaker 2: and you have to replace your full time income and
9:21
Speaker 2: that's what you're looking for. And the reality is you
9:23
Speaker 2: don't have to do that. What you can do is
9:25
Speaker 2: just like a little side hustle that nourishes you and
9:27
Speaker 2: keeps you busy and gives you something to do while
9:30
Speaker 2: the kids are sleeping if your mind won't sit still.
9:33
Speaker 2: And six or seven K a year, Like, girl, that's
9:36
Speaker 2: a lot of money. Like you could put that towards
9:38
Speaker 2: a mortgage, you could put that towards savings, you could
9:40
Speaker 2: go on an extra holiday. Like, there's just so much
9:43
Speaker 2: financial freedom that that money brings in addition that you
9:46
Speaker 2: just go that makes sense. I love it. Yeah, how
9:50
Speaker 2: exciting So talk to me about your big money goals.
9:54
Speaker 2: What are you guys currently working towards.
9:56
Speaker 4: Ah, well, our biggest money goal at the moment is
9:59
Speaker 4: we're getting married just under twelve weeks.
10:01
Speaker 2: Oh congrats.
10:03
Speaker 4: So that's kind of where everything's going at the moment,
10:06
Speaker 4: which is so fine because as much as we're wanting
10:09
Speaker 4: to keep it low key, we still want to enjoy
10:11
Speaker 4: ourselves and enjoy our day.
10:13
Speaker 3: But it's things add up very quick.
10:15
Speaker 2: It's terrifying, isn't it. Like all the last minute stuff
10:18
Speaker 2: in the last twelve weeks you're like, oh and I
10:20
Speaker 2: don't have, Oh and I don't have It's so annoying.
10:23
Speaker 3: Yeah, yeah it is.
10:24
Speaker 4: So I've done my best, but it's still a big
10:26
Speaker 4: money item. So I think once that's out of the way,
10:29
Speaker 4: we haven't sort of planned to go away anywhere, So
10:31
Speaker 4: I'd like to do that for ourselves. But I guess
10:33
Speaker 4: we own our home, but it probably in the next
10:35
Speaker 4: couple of years we're in two minds of whether we
10:37
Speaker 4: sell this space and get something new or we keep
10:40
Speaker 4: their since of investments. So I think that's our next
10:42
Speaker 4: big one and just setting up ourselves a little bit
10:45
Speaker 4: better in terms of investing for ourselves and our kids.
10:49
Speaker 4: So a few things, and it's a bit tricky to
10:52
Speaker 4: just focus on one because I'm I'm a person who
10:54
Speaker 4: likes to do it all at once, which can just
10:56
Speaker 4: get a bit too much.
10:58
Speaker 2: Totally. Yeah, can I be real pervy about your wedding.
11:02
Speaker 2: I want to know, did you set a budget at
11:04
Speaker 2: the start? If so, how's that tracking?
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Speaker 4: I set a budget of fifteen thous it Yep, Like
11:10
Speaker 4: I said, I've done my best. I've sourced what I
11:12
Speaker 4: can secondhand and on Facebook Marketplace, which has been a lifesaver.
11:16
Speaker 4: And even the venue we used is relatively new, so
11:18
Speaker 4: they were about a quarter of the price of.
11:20
Speaker 3: What places are. Oh co I'm located.
11:23
Speaker 4: Yeah, so did that well? But it's yeah, it's all
11:27
Speaker 4: the little things. We're probably up over the twenty k
11:29
Speaker 4: at the moment, so yeah, but we're just trying to
11:32
Speaker 4: rain it right in in these last few weeks. I'm
11:34
Speaker 4: trying to really just focus on other days about and
11:36
Speaker 4: not all of the extra little.
11:38
Speaker 2: Thing money drist I need to ask about your twenty
11:40
Speaker 2: thousand dollars budget. We've gone a little bit over, but
11:43
Speaker 2: before then, you do have a five month old sitting
11:46
Speaker 2: on your lap, so if anyone is listening along and
11:48
Speaker 2: can hear someone joining in the conversation. She looks very
11:52
Speaker 2: very cute, Like she's very cute, she's very animated, and
11:55
Speaker 2: I like her contributions. I'm not sure if I understand
11:58
Speaker 2: them yet, but you can come on the show when
11:59
Speaker 2: you're a bit old. Agreed, agreed, but tell me a
12:04
Speaker 2: bit more. I'm so pervy about weddings because, like I
12:06
Speaker 2: obviously had one, loved the process. How did you go
12:10
Speaker 2: from fifteen to twenty? Like was that something where you're like,
12:12
Speaker 2: oh my gosh, we completely forgot to allocate ABC or
12:15
Speaker 2: D or is it like decisions that you're like, we
12:17
Speaker 2: assumed that the venue would be you know, X, and
12:20
Speaker 2: it was actually why.
12:21
Speaker 3: Yeah, it was more the latter.
12:23
Speaker 4: I think it's just that old story of when you
12:26
Speaker 4: say that it's for a.
12:27
Speaker 2: Wedding, it's terrifying, isn't it.
12:28
Speaker 4: Yeah, it's just we kind of assumed that things would
12:31
Speaker 4: cost it at a mountain.
12:32
Speaker 3: They've come back it nearly double what we thought. But
12:35
Speaker 3: it's all things that.
12:35
Speaker 4: You know, we kind of need, like the music in
12:37
Speaker 4: the food. Yeah, it's not all of the extras, all
12:40
Speaker 4: of the extra stuff. I've just rained it right in.
12:42
Speaker 4: So I think my partner looks at it and he's like,
12:44
Speaker 4: what are we doing? But I show him what we're actually,
12:47
Speaker 4: you know, sending the money on and he gets it.
12:49
Speaker 2: Yeah.
12:49
Speaker 4: Yeah, and we're both in a sign nindset like we
12:52
Speaker 4: still want to enjoy our day.
12:53
Speaker 3: It does sting a bit knowing how much money.
12:55
Speaker 4: Is going into it, but we're just going to push
12:58
Speaker 4: through and just have a bet day.
13:00
Speaker 2: I love it, And the same thing happened with us,
13:04
Speaker 2: Like I was just consistently shocked at how much things cost.
13:08
Speaker 2: And you know, it's fine because I think once you're
13:11
Speaker 2: on the same page with your partner and you're like, no,
13:13
Speaker 2: we both really want this, Like let's just take it
13:15
Speaker 2: step by step. It's okay. But I think it's one
13:18
Speaker 2: of those things that when you're planning a wedding, you're like, oh,
13:21
Speaker 2: it just feels like blow after blow.
13:23
Speaker 4: Yeah, especially when you do we did want to keep
13:25
Speaker 4: it low cost, but then, like I said, like as
13:27
Speaker 4: soon as you start reaching out to people saying, you know,
13:30
Speaker 4: we've got a wedding coming up, it's yeah, things just
13:32
Speaker 4: add up so fast.
13:34
Speaker 2: I mean, at the end of the day, twenty grand
13:36
Speaker 2: on a wedding is literally a third of what the
13:39
Speaker 2: average Australian wedding costs. So you're not doing too badly.
13:43
Speaker 2: Let's go to a really quick break on the flip side,
13:45
Speaker 2: I want to ask you so many more questions about
13:47
Speaker 2: investments and habits and whether you're in debt. So guys
13:51
Speaker 2: don't go anywhere, all right, money direst we are back
13:59
Speaker 2: and first cap of K I want to know do
14:01
Speaker 2: you invest? If so, how, if not, what's the plan?
14:04
Speaker 3: So, thanks to She's on the money, I have.
14:06
Speaker 4: Actually I didn't even really know anything about it until
14:11
Speaker 4: about six months ago. Probably I'd heard obviously about it,
14:14
Speaker 4: but didn't know enough to feel comfortable. And then just
14:17
Speaker 4: from taking in as much content ada, so I came
14:20
Speaker 4: from the podcast. I've just started doing the micro investing
14:23
Speaker 4: as a beginning sort.
14:24
Speaker 3: Of step to get the knowledge set.
14:26
Speaker 4: Yeah, just to kind of get myself familiar with the process.
14:29
Speaker 4: My partner's across it more. But yeah, I feel like
14:32
Speaker 4: if I needed to be comfortable to make sort of
14:34
Speaker 4: the big step into it, that I needed to understand.
14:37
Speaker 3: The process and what goes in.
14:38
Speaker 4: So I started that and just it's really interesting just
14:40
Speaker 4: seeing I'm a log on and kind of see, and
14:42
Speaker 4: it's I think it's a great first step for me
14:44
Speaker 4: to take.
14:44
Speaker 3: And I'm really enjoying the platform that I'm using. So
14:46
Speaker 3: it's good.
14:47
Speaker 2: I love it. How good is that?
14:49
Speaker 3: All? Right?
14:50
Speaker 2: Jumping into debts? You own your own house, so I'm
14:53
Speaker 2: assuming there is a mortgage hiding somewhere there. But tell
14:57
Speaker 2: me all about debt. Is that your only debt? If so,
15:00
Speaker 2: so what is it? Tell me the juicy details.
15:02
Speaker 4: Yes, we've got the mortgage. I think at the moment
15:05
Speaker 4: it's at about four twenty. We were really quite fortunate.
15:09
Speaker 4: We managed to fix our interest rate just before COVID,
15:13
Speaker 4: so the interest rates were really really low, locked it
15:16
Speaker 4: in under two.
15:16
Speaker 2: Percent, so unrelatable. Mine's currently sitting at leg six and
15:20
Speaker 2: a half and I literally look at it and go,
15:22
Speaker 2: how did we get here?
15:25
Speaker 4: Yeah, so I don't know that was just a stroke
15:28
Speaker 4: of luck or I'm not sure, but locked that in
15:30
Speaker 4: for five years.
15:31
Speaker 3: So we're happy with that.
15:33
Speaker 2: Oh, very nice.
15:35
Speaker 4: Yes, especially that's taken us through the two maternity leaves.
15:38
Speaker 4: So that's been a big help just knowing this said
15:40
Speaker 4: amount that's going to be paid each fortnite.
15:42
Speaker 3: So that's our biggest one I own my car.
15:45
Speaker 4: However, my partner actually has a novated lease arrangement on
15:49
Speaker 4: his car, which again it was something I didn't know
15:52
Speaker 4: much about. But yeah, our situation at the time, it
15:55
Speaker 4: was kind of what made the most sense with us,
15:57
Speaker 4: and his work was willing to take that.
15:59
Speaker 3: On with him.
16:00
Speaker 2: Cool.
16:00
Speaker 3: So that's higher than I'd like it to be.
16:03
Speaker 4: It's at about forty k so, but yeah, it works
16:07
Speaker 4: the way that he's got.
16:08
Speaker 3: It set up with.
16:08
Speaker 4: I guess the NEVATD lease arrangement, it's a big chance
16:11
Speaker 4: that is paid, but I guess it's what we had
16:13
Speaker 4: to do at the time, so I'm just letting it
16:15
Speaker 4: do its thing. But apart from that, we don't have
16:17
Speaker 4: any credit cards. We only use after pay as kind
16:20
Speaker 4: of like a cash flow tool. It's never blown out
16:22
Speaker 4: out of sort of the budget. But yeah, apart from that,
16:26
Speaker 4: we're pretty on track.
16:28
Speaker 2: Very cool. What kind of things are you putting on
16:30
Speaker 2: after pay? Because I'm not one of those people that
16:32
Speaker 2: could be trusted with after pay. You quite clearly are,
16:35
Speaker 2: and that's fine, But I want to know, is it
16:37
Speaker 2: like clothes and shoes or is it like, oh, they're
16:39
Speaker 2: the big ticket baby item, So like what does your
16:41
Speaker 2: after pay usage look like it.
16:43
Speaker 3: Kind of changes every so often.
16:45
Speaker 4: We've got a couple of big dogs that you know,
16:47
Speaker 4: require their monthly big food order, so we kind of
16:51
Speaker 4: put that on and budget it into our sort of
16:53
Speaker 4: cash flow process, and that's like a pretty regular one,
16:56
Speaker 4: just to break it down that sort of upfront cost
16:59
Speaker 4: at the I mean, it's been a few wedding things,
17:01
Speaker 4: but I do have a wedding sort of account, and
17:03
Speaker 4: it's just that we're paying into each fortnite so it
17:06
Speaker 4: just assists us with that sort of Yet, like I said,
17:08
Speaker 4: that cash flow of if I needed it, sort of,
17:11
Speaker 4: I don't know now because the wedding's coming up.
17:13
Speaker 3: It just allows me to kind of work it that way.
17:15
Speaker 3: But we're good with it.
17:17
Speaker 4: It's never been something that's blown out, but I guess
17:19
Speaker 4: I would like to get to a point that we
17:20
Speaker 4: don't need it at all.
17:21
Speaker 2: But it's a helpful tool in your situation, and I
17:24
Speaker 2: feel like some people can be trusted with it and
17:27
Speaker 2: some people can't. I'm in the bucket of can't, and
17:29
Speaker 2: that's okay. But it's always interesting because obviously, if you're
17:33
Speaker 2: using it correctly, it doesn't implicate you financially in any way,
17:37
Speaker 2: like you're not up for more interest or you know,
17:39
Speaker 2: you're not in a pickle. But a lot of people
17:42
Speaker 2: like me would just go down a slippery slope, like
17:44
Speaker 2: genuinely feel like, hey, they so there's just two hundred dollars,
17:47
Speaker 2: you could have it for fifty bucks a day. I'll
17:49
Speaker 2: be like, that's the money in like and of all people,
17:52
Speaker 2: you would think that I'm educated enough to know the difference,
17:55
Speaker 2: and I am, which is why we don't use it.
17:57
Speaker 2: But I think it's it's cool to see how other
17:59
Speaker 2: people using it because it can actually be a really
18:03
Speaker 2: effective cash slow tool. And I'm not saying go get
18:06
Speaker 2: it because it's a great tool, but more you know,
18:09
Speaker 2: obviously in your circumstance you're about to get married, you
18:11
Speaker 2: have a lot of costs. Do you have two tiny
18:13
Speaker 2: humans to look after? Like I'm assuming it takes a
18:16
Speaker 2: little bit of a weight off.
18:18
Speaker 4: Yeah, yeah, it does help. But like I said, I
18:21
Speaker 4: would like to get to a point that we just
18:22
Speaker 4: don't use it at all. But at the moment, it
18:24
Speaker 4: has been a great little tool.
18:25
Speaker 2: Just when we will, you absolutely will, all right, tell
18:29
Speaker 2: me what do you think your best money habit is?
18:32
Speaker 3: Best money habit. I think it would be putting time
18:35
Speaker 3: between my purchases.
18:36
Speaker 4: Obviously that's something you talk about a lot of the podcast,
18:38
Speaker 4: but it is something that I think relates back to
18:41
Speaker 4: sort of my money story and how I was brought up.
18:44
Speaker 4: We just kind of had to make do We never
18:46
Speaker 4: kind of were able to go out to the shop
18:48
Speaker 4: and you know, just grab things what we wanted at
18:50
Speaker 4: the time.
18:51
Speaker 3: So I do put a lot of thought in between
18:54
Speaker 3: a purchase.
18:54
Speaker 4: And I'll often sometimes it bugs me because I'll go
18:58
Speaker 4: out to buy something that I need and I'll come
18:59
Speaker 4: home and say, oh, like without it, and just think
19:02
Speaker 4: that it was something I needed, but I actually just
19:03
Speaker 4: couldn't do it at the time. So and it does
19:06
Speaker 4: get tricky with the kids because I do there is
19:07
Speaker 4: things that I need to go out and get, but
19:10
Speaker 4: I'll have to come home and think about it and
19:12
Speaker 4: then I'll go back. So I think it is a
19:14
Speaker 4: helpful mindset that I have because I don't make those
19:17
Speaker 4: big impulse purchases on the spot.
19:20
Speaker 3: But yeah, I think that is probably my best once moment.
19:23
Speaker 2: Do you think that that weighs heavily on you as well?
19:25
Speaker 2: Sometimes because I came picking up this tone of like
19:28
Speaker 2: I'm going to the shops, I'm looking at it, and
19:30
Speaker 2: it's not because I'm good at money that I say,
19:32
Speaker 2: let's put twenty four hours between me and my purchase.
19:35
Speaker 2: It sounds and like I'm obviously not trying to diagnose
19:38
Speaker 2: it here, but it sounds a little bit like you're
19:40
Speaker 2: maybe anxious about those purchases.
19:43
Speaker 3: Yes, yeah, I do get anxious.
19:45
Speaker 4: Like my partner and I've worked really hard to get
19:47
Speaker 4: we don't have a heap of savings at the moment,
19:49
Speaker 4: but we do have a little bit of a safety
19:52
Speaker 4: net on the side that I don't like it to
19:55
Speaker 4: get below a certain amount, and that's just because of
19:58
Speaker 4: how I was brought up.
19:59
Speaker 3: We didn't have that.
20:00
Speaker 4: It's just to feel sort of somewhat secure and that,
20:03
Speaker 4: you know, if things just happen, it's life come I
20:06
Speaker 4: think issues come up, or the kids need something urgently.
20:08
Speaker 4: So I do get anxious about purchases. It's probably anything
20:12
Speaker 4: under that fifty dollar mark. I'm generally okay. Anything more
20:15
Speaker 4: than I tend to really have to think about, which
20:18
Speaker 4: in some instances is good because if I'm at the
20:20
Speaker 4: shops with a friends, I'm not just one to grab
20:22
Speaker 4: things off the shelf and be like, oh, that's fine,
20:24
Speaker 4: I'll just I'll.
20:25
Speaker 3: Make it work.
20:26
Speaker 4: But I definitely have a level of anxiety about just
20:31
Speaker 4: sort of random spending that I haven't accounted for, because
20:35
Speaker 4: I just worry about, you know what if XYZ comes
20:38
Speaker 4: up and we don't have that cash flow there to
20:41
Speaker 4: be able to cover it. So yeah, it's a tricky one.
20:46
Speaker 4: I'm trying to get better with the anxiety around it.
20:48
Speaker 4: But I think it also is something that I might just.
20:52
Speaker 3: Live with the level of because yeah, it's just how
20:55
Speaker 3: I was brought up.
20:56
Speaker 4: Unfortunately and that sort of you know, it's really things
21:00
Speaker 4: are scarce at times, so we just had to make do.
21:02
Speaker 3: But yeah, it's something I'll work out.
21:04
Speaker 2: To dive into this a little bit more because I
21:06
Speaker 2: feel like it's probably so relatable. Do you have a budget,
21:10
Speaker 2: Like are you writing down a budget each month? Or like,
21:12
Speaker 2: have you got a system.
21:13
Speaker 4: We've tried a few and I just don't think we've
21:16
Speaker 4: quite nailed it, and I think, yeah, it's something that
21:20
Speaker 4: we do our best to stick to, but I think
21:24
Speaker 4: we kind of tend to stretch the budget a little
21:26
Speaker 4: bit too far in terms of allocating funds, so we
21:29
Speaker 4: don't leave enough for ourselves out and then of course that.
21:32
Speaker 3: Means and we're dipping into areas that we shouldn't be.
21:34
Speaker 4: So I think we just haven't find that correct sort
21:36
Speaker 4: of process for us.
21:38
Speaker 3: It's always something that we.
21:39
Speaker 4: Try to review and look at, but yeah, again, we
21:42
Speaker 4: just haven't found the correct way. And it's a goal
21:45
Speaker 4: of mine for this year to get it right on
21:47
Speaker 4: track and find a way that works the best for
21:49
Speaker 4: us so we don't run into these sort of pickups
21:52
Speaker 4: along the way.
21:53
Speaker 2: But yeah, I love it because I think I can
21:55
Speaker 2: fix that for you. I'm going to gift you our
21:57
Speaker 2: budget and cash Flow Masterclass with if you've seen it online.
22:01
Speaker 2: I'm biased because I made it, so I think it's
22:03
Speaker 2: really good. But it is the most comprehensive way of
22:07
Speaker 2: managing your budget that makes sure that we're taking into
22:10
Speaker 2: account like fun money and annual expenses as well as
22:13
Speaker 2: those day to day costs. So I'm going to give
22:15
Speaker 2: you that because I think that that is going to
22:17
Speaker 2: help set you up properly. There's a singles version which
22:20
Speaker 2: won't apply to you, but there is a couple's version
22:22
Speaker 2: as well that breaks down all of it and includes
22:25
Speaker 2: a whole section for kids. As well. So like, I
22:27
Speaker 2: feel like there's not an area I haven't thought of,
22:31
Speaker 2: and historically when there has been, I've just gone in
22:34
Speaker 2: and switched out all of the information to update it
22:36
Speaker 2: because I'm like, oh my gosh, I didn't include XYZ
22:39
Speaker 2: because it wasn't a priority for me.
22:41
Speaker 3: Yeah, that's amazing.
22:43
Speaker 2: I think that'll be helpful. And for those of you
22:45
Speaker 2: listening at home who might be interested in doing the
22:47
Speaker 2: Money masterclass as well, I'll pop a discount code in
22:51
Speaker 2: the show notes, but it will be POD five zero
22:55
Speaker 2: and it'll give you fifty bucks off, which is a
22:56
Speaker 2: money win. But I just when you said that, I
22:59
Speaker 2: was like, oh, I think I can help here if
23:01
Speaker 2: you've got like a system that hasn't worked, like I've
23:03
Speaker 2: got one that works for literally thousands of people. But
23:06
Speaker 2: now you have to tell me in exchange for that,
23:09
Speaker 2: what your worst money habit is.
23:11
Speaker 4: Oh, my worst money habit would be ducking into the
23:15
Speaker 4: grocery store probably three or four times a week. I
23:18
Speaker 4: do my weekly shop, but then I have to, you know,
23:22
Speaker 4: do the little top ups. But that just blows out
23:25
Speaker 4: every time I'm there. So I just and again I
23:27
Speaker 4: think it comes back to we're not correctly budgeting for
23:31
Speaker 4: you know, the big weekly shop. So I'm ducking in
23:33
Speaker 4: to grab bread and milk, and then I need something
23:35
Speaker 4: for the kids, so it's it quickly adds up to.
23:38
Speaker 3: Be an extra.
23:38
Speaker 4: You know, sometimes up to one hundred dollars a week
23:41
Speaker 4: that we haven't allocated for groceries. So I need to
23:45
Speaker 4: pull that right back. That would definitely be the worst one.
23:48
Speaker 4: And I know when I'm doing it as well, but
23:50
Speaker 4: you know there's things that I can't not get along
23:52
Speaker 4: the way.
23:52
Speaker 2: So yeah, absolutely, like kids needs what they need and
23:55
Speaker 2: it's frustrating. All right. Tell me at the start of
23:58
Speaker 2: the episode, you said, I think I'm a B minus,
24:00
Speaker 2: but I have learned that you have changed your entire
24:03
Speaker 2: money story. You've got an epic full time job. You're
24:05
Speaker 2: a little side hustler, Like even when your kids are asleep,
24:08
Speaker 2: You're like, I'm not going to rest. Rest is for
24:10
Speaker 2: the wicked. I Am going to start a little side
24:12
Speaker 2: hustle business. I need to know, one what would it
24:16
Speaker 2: take to get you to an A plus? And two
24:20
Speaker 2: why do you think B minus is reflective of where
24:23
Speaker 2: you currently are at?
24:24
Speaker 3: So I think to get to an A plus, I
24:26
Speaker 3: need to.
24:26
Speaker 4: Get our sort of budget and cash flow just set
24:30
Speaker 4: in a way that works.
24:31
Speaker 2: We're on it. Look at us, We're on it. This
24:33
Speaker 2: is a problem solving money diary.
24:35
Speaker 3: Yeah.
24:36
Speaker 4: I think I'll feel a lot more confident with where
24:40
Speaker 4: we're headed if we can get that nailed down. So
24:42
Speaker 4: that's exciting because I think that'll I think, yeah, this
24:44
Speaker 4: is really going to help with that. And I really
24:48
Speaker 4: want to focus more on investments this year or investing. Sorry,
24:53
Speaker 4: I think now that I've doabbled in the micro investing.
24:55
Speaker 4: Once the wedding's out of the way, that's sort of
24:56
Speaker 4: our big focus.
24:57
Speaker 3: Yeah, of course. Yeah.
24:59
Speaker 4: So it's all exciting and it's all attainable. It's just
25:02
Speaker 4: we've got a few things to knock.
25:03
Speaker 3: Out of the park first, and then once that's.
25:05
Speaker 2: Sortid you said you were going to knock it out
25:07
Speaker 2: of the park and she's like, hey, yeah you are, Mama.
25:11
Speaker 2: She's so happy it kills me. She's just like beaming
25:14
Speaker 2: on camera. No one else gets to see it. Don't
25:16
Speaker 2: be sorry. It's the best.
25:19
Speaker 5: Yeah.
25:20
Speaker 4: I think once so few things have thoughted, I'll feel
25:23
Speaker 4: pretty proud and pretty stoked, and I think i'll be
25:25
Speaker 4: more of an a plus then. But Yeah, I think
25:27
Speaker 4: my b minus is that we've got all these sort
25:29
Speaker 4: of plans to get to these places and then sort
25:32
Speaker 4: of the budget and cash flow this at work, so
25:34
Speaker 4: there were a few steps back.
25:35
Speaker 3: It's kind of two steps forward, one step back.
25:37
Speaker 4: But it seems that we just can't quite get there,
25:40
Speaker 4: and we've maybe not had the right tools in place,
25:42
Speaker 4: or I've not known enough.
25:43
Speaker 3: About what you know, the investment world.
25:45
Speaker 4: So I'm putting by listening to the podcast and doing
25:48
Speaker 4: my own external research. I'm excited to sort of focus
25:52
Speaker 4: on those airs more.
25:54
Speaker 6: And yeah, love love, love, Oh my gosh, I feel
25:59
Speaker 6: like you are well on track, like everything has been
26:02
Speaker 6: set up and you are working towards it.
26:04
Speaker 2: But I feel like you have achieved so much and
26:07
Speaker 2: I'm so proud of where you've come from and where
26:09
Speaker 2: you are now. And I know that your mum would
26:11
Speaker 2: be so proud, like you know, you said before, like
26:14
Speaker 2: you know she's not around, but I think she'd be proud.
26:16
Speaker 2: What do you mean, think you know she'd be proud.
26:18
Speaker 2: She'd be over the moon. You're exactly where she wishes
26:21
Speaker 2: she could have been when she was, you know, bringing
26:23
Speaker 2: you up. And I think that that's just such a
26:25
Speaker 2: beautiful thing as well, but unfortunately that is all we
26:29
Speaker 2: have time for today. I am genuinely so grateful for
26:32
Speaker 2: this story. I think it's been fun and engaging, and
26:35
Speaker 2: I've loved learning about your wedding and where you've come
26:38
Speaker 2: from and what your plans are for the future. And
26:40
Speaker 2: I'm genuinely so excited to give you my money masterclass
26:43
Speaker 2: because I'm like, hold on, I think this could really help,
26:45
Speaker 2: Like I actually think this will get your stuff together
26:48
Speaker 2: so that you feel like an A plus sooner. So
26:51
Speaker 2: I'm very happy about this. So thank you so much
26:54
Speaker 2: for sharing your journey with us, and I hope our
26:56
Speaker 2: paths cross in person in the future at some point.
27:00
Speaker 4: Thank you so much for having me, and I'm really
27:02
Speaker 4: excited to do the course. Thank you again. Okay.
27:10
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27:13
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27:16
Speaker 5: on the Money exists purely for educational purposes and should
27:20
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