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MONEY DIARIES: Future doctor · She's On The Money

0:01
Speaker 1: She's on the Money, She's on the Money. Hello, and
0:19
Speaker 1: welcome to She's on the Money money diaries. The Money
0:22
Speaker 1: arose from millennials who want financial freedom. My name is
0:25
Speaker 1: Victoria Devine, and this week we speak to a twenty
0:28
Speaker 1: two year old member of our community is using Scentilink
0:31
Speaker 1: as her main source of income while studying long and
0:33
Speaker 1: hard to become a doctor. Ryan John, can you please
0:36
Speaker 1: read out the email she sent us last week.
0:39
Speaker 2: I'm twenty two years old and currently studying at university
0:42
Speaker 2: in my fifth year of study. I've had multiple jobs
0:45
Speaker 2: over the last seven years and spend a lot of
0:47
Speaker 2: my money traveling, haven't we all. I'm studying medicine look
0:51
Speaker 2: out guys, smarter about and getting into my final years.
0:57
Speaker 2: We do a whole year of practical work, so I've
0:59
Speaker 2: had to quit all my jobs, and I know a
1:00
Speaker 2: lot of professions that have to do practical placements stuff.
1:03
Speaker 2: It's actually really hard because you have to quit your
1:04
Speaker 2: part time jobs and stuff, and you know.
1:06
Speaker 1: A lot of people of friends doing it. It's hectic.
1:08
Speaker 2: Yeah, but lucky, I'm eligible for youth allowance from Centrelink,
1:12
Speaker 2: so that's what I'm currently living on. I still live
1:14
Speaker 2: at home, but next year I plan to move out
1:17
Speaker 2: due to location of the practical work at the hospital
1:19
Speaker 2: being three hours south in rural Western Australia. I have
1:24
Speaker 2: a phobia of credit cards and being in debt, and
1:26
Speaker 2: that's been passed on from my parents. Recently, I've started investing,
1:29
Speaker 2: which is new to me, but I've gotten a few
1:31
Speaker 2: short wins. Hello after pay and zippay, well done there.
1:35
Speaker 2: My income each fortnite is five hundred and fifty nine
1:37
Speaker 2: dollars and twenty cents, and that's increased a lot because
1:40
Speaker 2: of coronavirus and doing extra hours and stuff like that
1:43
Speaker 2: and the supplements. I feel like I'm still living my
1:47
Speaker 2: previous lifestyle low of about one or two years ago,
1:50
Speaker 2: when I was working two or three jobs and earning
1:52
Speaker 2: one thousand to fifteen hundred a fortnite, and I haven't
1:54
Speaker 2: been able to cut down my spending. Once you start
1:56
Speaker 2: living a certain life, it is really hard to get
1:58
Speaker 2: me my style. Careers all right, So that brings us
2:01
Speaker 2: up to speed. Thanks for joining us, Money Diarist, Thank
2:05
Speaker 2: you for having me.
2:06
Speaker 1: I'm really excited about this one. It sounds super interesting,
2:09
Speaker 1: But to be the boring person here, let's get through
2:13
Speaker 1: all of the constructive questions first and then we can
2:15
Speaker 1: have the exciting conversation on the back end of the podcast.
2:18
Speaker 1: Is that okay, yep, can we dive straight in?
2:22
Speaker 3: Sure?
2:23
Speaker 1: Fabulous? Can you explain your relationship with money to us?
2:27
Speaker 3: I feel like I have a pretty good relationship with money.
2:31
Speaker 3: It has probably changed over the past sort of year
2:34
Speaker 3: where I haven't been able to get an income and
2:37
Speaker 3: they have been living off centling. Before then, I think
2:41
Speaker 3: because I was earning much, I was sort of living
2:44
Speaker 3: to my names and saving quite a lot as well
2:47
Speaker 3: a table quite a lot. But now I'm still living
2:50
Speaker 3: the same way I was a few years ago, and
2:53
Speaker 3: it's not really sustainable anymore, which.
2:55
Speaker 1: Is absolutely fair, and I think a lot of us
2:58
Speaker 1: guilty of that. Let's be honest. So what do you
3:01
Speaker 1: do for work and for life? Like, what's going on there?
3:04
Speaker 3: So? Currently I'm a medical student. I'm in my fourth
3:07
Speaker 3: year out of five years, but I've been at university
3:10
Speaker 3: for five years overall because I switched in so and
3:15
Speaker 3: for work, I've worked at lots of different places. I
3:19
Speaker 3: worked at an ice cream shop like seven years and then,
3:22
Speaker 3: but during that time, I worked at different burger places
3:25
Speaker 3: and I'm pying netball and lots of little first aid
3:28
Speaker 3: jobs and sort of things like that, which is I
3:30
Speaker 3: think having multiple sources of income allowed me to sort
3:34
Speaker 3: of have one sort of income as savings, and then
3:37
Speaker 3: the other sources were sort of my spending money, which
3:40
Speaker 3: worked quite well. But now I've only.
3:42
Speaker 4: Got the center Link as my source of income.
3:45
Speaker 1: Which is still cool. Like how cool are we to
3:47
Speaker 1: be in a country where we have a rassource like that?
3:50
Speaker 3: Are we going to come?
3:52
Speaker 2: Like? How good is that?
3:53
Speaker 3: Yeah?
3:54
Speaker 4: I sort of feel a bit guilty sometimes because I
3:56
Speaker 4: feel like I'm I mean, obviously there will situate shouldn't
4:00
Speaker 4: like mine, but I feel like I'm almost taking advantage
4:03
Speaker 4: of the system because growing up it kind of had
4:05
Speaker 4: that stigma that like, if you're on SENTILLENTCE, you're kind.
4:07
Speaker 2: Of you're going to be a doctor and saving our lives.
4:10
Speaker 2: I think it's a good investment.
4:12
Speaker 1: I think that's a great investment, Like if my tex
4:14
Speaker 1: doars are going towards creating doctors, I am a thousand
4:17
Speaker 1: percent to hear for it. But I don't think that
4:19
Speaker 1: anyone who is on Centilink actually is abusing it in
4:23
Speaker 1: any way, shape or form. Lots of people in our
4:25
Speaker 1: community are, and to be honest, I'm just super grateful
4:28
Speaker 1: the resource like that exists for us.
4:31
Speaker 3: Yeah, definitely.
4:32
Speaker 1: Two.
4:33
Speaker 3: Especially for students, I feel like it's quite necessary.
4:37
Speaker 1: Being a student is so expensive and stressful, Like you've
4:40
Speaker 1: been doing this for five years, Like the hustle is real. Yes,
4:44
Speaker 1: So getting further into it, what do you earn and
4:47
Speaker 1: how much is currently sitting in your bank account right now?
4:50
Speaker 3: Currently on centilink, I'm earning five hundred and fiftyish dollars
4:55
Speaker 3: a fortnite and sitting in my bank account there's about
4:59
Speaker 3: four thousand, and then in investments and stuff, I've got
5:04
Speaker 3: more money in there as well.
5:06
Speaker 1: Hey that's pretty good. Yeah, that's pretty good. I'm pretty
5:10
Speaker 1: impressed with that. Do you feel confident when making decisions
5:13
Speaker 1: about money?
5:15
Speaker 3: Yes, I feel like I never really say no to myself,
5:19
Speaker 3: which I feel is partly because growing up, Mum and
5:22
Speaker 3: Dad never really said no so much, even though it
5:25
Speaker 3: was probably out of their price range, so they've never
5:28
Speaker 3: really said no. So then I sort of let myself
5:31
Speaker 3: have a treat, probably a little bit too often, and
5:33
Speaker 3: go on a through too many holidays to Fari Europe, etc.
5:38
Speaker 3: But I feel like it's okay.
5:42
Speaker 1: Which is fair. I think we all feel a little
5:44
Speaker 1: bit guilty about our money situation for one reason or another.
5:48
Speaker 1: So what happens to the money after it gets deposited
5:51
Speaker 1: into your account?
5:53
Speaker 3: So I've recently changed this, so when I started going
5:56
Speaker 3: on Sentience about two months ago, I sort of had
5:59
Speaker 3: to sit bit more stringent with where my money was going.
6:03
Speaker 3: So I should set up automatic payments if I've heard
6:06
Speaker 3: so many of the money diarists do, But I currently
6:09
Speaker 3: I just automatically, I mean not automatically, just deposit it
6:14
Speaker 3: into my savings. So I think i'd about two hundred savings,
6:17
Speaker 3: but then I always end up taking more usually and
6:20
Speaker 3: then about one fifty years for groceries and one fifty
6:22
Speaker 3: issues for sending, and then the extra bit that goes
6:26
Speaker 3: into a raise count.
6:28
Speaker 1: I love that you're on send link and like making
6:31
Speaker 1: the most of it. You're still making sure you're using
6:33
Speaker 1: apps like raise to make sure that you're rounding up
6:36
Speaker 1: additional things. I actually really love it. It's really savvy. So
6:39
Speaker 1: can you tell us a little bit about your investment journey?
6:42
Speaker 4: So I feel a.
6:43
Speaker 3: Little bit lucky that when I started looking into investment
6:46
Speaker 3: was right around coronavirus last year when the market fully crafted,
6:51
Speaker 3: so I was able to get in when everything was
6:53
Speaker 3: really really cheap. Yes, every Yeah, I bought stocks in
6:58
Speaker 3: after pay and Zippay and Quantus and basically was buying them,
7:03
Speaker 3: and then within three weeks I was when the market
7:06
Speaker 3: was going up, I was selling them and then buying
7:08
Speaker 3: other ones and then selling those ones. Yeah, I managed
7:12
Speaker 3: to make about five grand or fat.
7:14
Speaker 2: Whoaying if you don't mind far.
7:19
Speaker 3: But I felt like for the amount of time I
7:22
Speaker 3: was sort of like checking up on everything and sort
7:24
Speaker 3: of almost neglecting my studies a little bit because I
7:27
Speaker 3: was so sort of it's exciting, right, yeah, in these
7:30
Speaker 3: quick these very quick wrins, but that's skip. Yeah, it was.
7:35
Speaker 2: It was good.
7:36
Speaker 3: But then now the market is a little bit more stable,
7:38
Speaker 3: so I'm sort of looking more at ETF and which
7:42
Speaker 3: I have. Probably I did have about five grand in
7:45
Speaker 3: ETFs at the moment, which is basically what I made
7:48
Speaker 3: from my wings from the short winds, and then I
7:52
Speaker 3: have I have about four brand in just like other
7:55
Speaker 3: different accounts of different sort of investments as well.
7:58
Speaker 1: That is actually I'm really impressed. I feel obviously we
8:02
Speaker 1: can't recommend that strategy because it is incredibly risky. But yes,
8:08
Speaker 1: it's kind of cool, but it worked for Yeah exactly.
8:11
Speaker 1: We always have the best advice in hindsight, right, like
8:15
Speaker 1: if I could, if I could do what you did,
8:16
Speaker 1: but like, at the same time, that would have been great.
8:19
Speaker 1: I also would have bought twelve months.
8:22
Speaker 3: Yes exactly, it was very lucky timing, and I feel
8:25
Speaker 3: I almost I know how lucky it was. Now looking
8:29
Speaker 3: back at the stocks I invested in and how often
8:31
Speaker 3: they fluctuate up.
8:32
Speaker 1: And down, I am really impressed. I'm not gonna lie.
8:37
Speaker 3: So do you want of luck totally?
8:39
Speaker 1: But do you have any debts of any kind? And
8:42
Speaker 1: if so, what are they?
8:44
Speaker 2: So?
8:44
Speaker 3: I have no credit card debt or anything like that.
8:47
Speaker 3: I do use after pay, but I use it in
8:50
Speaker 3: the way that Victoria has sort of said it's okay,
8:52
Speaker 3: which is buying.
8:54
Speaker 1: You don't need my permission to live your life.
8:56
Speaker 3: My friend buying something of office. I'm buying a few items,
9:02
Speaker 3: maybe like the same item but in different sizes, and
9:05
Speaker 3: then ended up sending stuff back most of the time.
9:08
Speaker 1: Yeah, use it as a tool, honestly, do you can
9:12
Speaker 1: use it as a tool that helps you, you know,
9:15
Speaker 1: actually make a better financial decision. I'm all about that.
9:19
Speaker 3: Yeah, and then I've obviously got a lot of heck steps.
9:22
Speaker 3: When I finish, I think I'll be sitting at about
9:24
Speaker 3: sixty or seventy thousands.
9:26
Speaker 4: That's pretty around, man.
9:28
Speaker 1: That's pretty good. I think I've said this on the
9:30
Speaker 1: podcast before, but my hex stet is still sitting at
9:32
Speaker 1: six figures.
9:33
Speaker 2: Guys, and you ain't a doctor either.
9:36
Speaker 1: No, I don't even get how disappointing honestly. All right,
9:42
Speaker 1: So do you have any good money habits that you're
9:45
Speaker 1: especially proud of.
9:47
Speaker 3: I think I'm sort of proud of my past self
9:51
Speaker 3: more than my current self. I used to be very
9:54
Speaker 3: very tight with my money. I used to bring pack
9:57
Speaker 3: lunch every day, and I was really on the ball
10:01
Speaker 3: with gay and everything sort of changed a little bit.
10:05
Speaker 3: We were going out for dinners or rot and sort
10:07
Speaker 3: of splitting everything, and so that also has been a
10:10
Speaker 3: change in the sort of like past two years. That's
10:13
Speaker 3: sort of changed everything a little bit as well. But
10:16
Speaker 3: I sort of say it's sort of worth it.
10:19
Speaker 1: I love that. Actually, I feel like so many people
10:23
Speaker 1: are really harsh on past like their past selves, but
10:26
Speaker 1: I don't know, it's one of those things like, I
10:28
Speaker 1: can see that you've obviously come from a really good
10:30
Speaker 1: past self. But when people say, oh my gosh, like
10:34
Speaker 1: I can't believe I used to do that, I was
10:36
Speaker 1: the worst. I hate myself for that, or they you know,
10:39
Speaker 1: really grill past selves, I feel like it's so detrimental
10:43
Speaker 1: because like, at that time, we were just dealing with
10:45
Speaker 1: the tools and resources that we had access to and
10:47
Speaker 1: kind of just doing the best that we could at
10:49
Speaker 1: that time. Yeah, you might know more now or do
10:52
Speaker 1: something different now, but I just feel like the past
10:55
Speaker 1: made us who we are today, and that's kind of
10:57
Speaker 1: cool and we should be celebrating that rather than going,
11:00
Speaker 1: oh my gosh, I can't believe I did that. Like
11:02
Speaker 1: that's not healthy, that's not helpful. Let's not do that.
11:05
Speaker 3: Yeah. I definitely think that my past self was definitely
11:08
Speaker 3: a lot better, and I probably want to get her back.
11:13
Speaker 1: That's okay, that's okay. I just think lots of people
11:15
Speaker 1: are negative about it, So it's so nice to be like, yeah, actually,
11:17
Speaker 1: past selfish are real smart, yeah and had a real
11:21
Speaker 1: good time.
11:22
Speaker 4: Yeah.
11:22
Speaker 1: And I feel like maybe the next question I've got
11:24
Speaker 1: for you is going to be more a current self thing,
11:27
Speaker 1: given the feedback you've just given us, and that is
11:29
Speaker 1: what is your worst money habit.
11:32
Speaker 3: I'm very much a foamo person. If my friend's going out,
11:36
Speaker 3: I'm going to go, whether it's a detriment to sort
11:38
Speaker 3: of my money or to my studies. I never really
11:42
Speaker 3: say no holidays. I'll go with every friend that wants
11:46
Speaker 3: to go. Every time someone wants to start for dinner
11:49
Speaker 3: or anything like that, I'm always keen, which is definitely
11:54
Speaker 3: one of my values. At the same time, it's sort
11:56
Speaker 3: of spending time is like the people that I love,
11:58
Speaker 3: but I can kind of sort of balance it a
12:01
Speaker 3: little bit better or find ways that I can sort
12:05
Speaker 3: of spend time with people without spending money.
12:08
Speaker 1: It's good to have that level of reflection, though, because
12:10
Speaker 1: I think a lot of people would not say, oh
12:13
Speaker 1: my gosh, I'm so bad at fomo, because that takes
12:16
Speaker 1: a lot of level of introspection from my perspective. So,
12:20
Speaker 1: money Diarist, what are you currently saving for? Do you
12:23
Speaker 1: currently have a big money goal at the moment?
12:25
Speaker 3: Currently, No, I've sort of the next sort of goal
12:29
Speaker 3: is like a house, but I'm still only twenty two.
12:33
Speaker 3: But I kind of just want to get those big
12:35
Speaker 3: goals out of the way early. And my only other
12:39
Speaker 3: big thing would be I really want to just keep
12:41
Speaker 3: investing what's lots of money when I'm young, so that
12:44
Speaker 3: when I get to like thirty five, forty five, fifty five,
12:48
Speaker 3: it's going to be a lot easier as well.
12:51
Speaker 1: Guys, she's going to be a doctor. Gone, she gone
12:55
Speaker 1: be all right? So, baby doctor, if I forced you
12:59
Speaker 1: to rate yourself and give yourself a financial rating, what
13:02
Speaker 1: would you give yourself?
13:04
Speaker 3: I probably would say about seven and a half maybe, But.
13:10
Speaker 4: I think I'm pretty good.
13:11
Speaker 3: But there's definitely ways I can improve. But I do
13:15
Speaker 3: know how I can get there. I just need to
13:17
Speaker 3: stop overthinking and stop going to every single thing I
13:21
Speaker 3: can possibly go to and make better decisions in that way.
13:25
Speaker 1: I'm not gonna lie. At twenty two, I feel like
13:27
Speaker 1: you've got it pretty sorted, much more sorted than twenty
13:30
Speaker 1: two year old me had.
13:32
Speaker 2: But so who's got the energy to go out every
13:34
Speaker 2: night when you get older? You know what I mean?
13:36
Speaker 2: I mean that take care of it out.
13:38
Speaker 1: I definitely don't. But we'll have a chat about that
13:41
Speaker 1: right after we have a little message from our friends
13:44
Speaker 1: of the show this week. I am so grateful for
13:55
Speaker 1: you sharing your money diary today. Thank you so so
13:58
Speaker 1: much for that. Can we talk a little bit more
14:00
Speaker 1: about the pervy stuff though?
14:02
Speaker 3: Sure?
14:02
Speaker 1: Talk to me about medicine. How hard is it? How
14:04
Speaker 1: far are you through it? Is it exactly what you
14:07
Speaker 1: thought it was going to be?
14:09
Speaker 3: It is now? So the first sort of three years
14:12
Speaker 3: were we're all pre clinical, so it was all basically
14:16
Speaker 3: in a crossroom learning, which I feel like I'm a
14:20
Speaker 3: much more hands on person. So this year when I'm
14:23
Speaker 3: down South, it's been much more hands on. I've been
14:26
Speaker 3: able to do a lot more things, and I feel
14:29
Speaker 3: like I'm learning a lot more and faster, So that's
14:31
Speaker 3: really good. But yeah, it's very hard.
14:34
Speaker 2: When do you have to specialize, Like do you like,
14:37
Speaker 2: is that after graduating and stuff or do you start
14:39
Speaker 2: specializing within your course? Like how technical do you need
14:43
Speaker 2: to get and make decisions about your future already?
14:46
Speaker 3: Ah, not too technical yet. So I'm still in my
14:49
Speaker 3: fourth year and then I'll have six year next year
14:51
Speaker 3: in med school as well, and then you do an
14:53
Speaker 3: intern year where you kind of try out every sort
14:57
Speaker 3: of place that you want to try, and then after
15:01
Speaker 3: that you sort of choose your residency. So I've got
15:03
Speaker 3: about three more years minimum. I can sort of keep
15:08
Speaker 3: stretching that out as far as you want it, really,
15:10
Speaker 3: and once I've finished the next two years, I'll be
15:12
Speaker 3: getting paid as well, So it doesn't really matter to
15:15
Speaker 3: me if I take an extra year when I'm sort
15:18
Speaker 3: of an intern, because the intern wage isn't it's a
15:21
Speaker 3: pretty good straight out of uniqu wage as well, So yeah,
15:25
Speaker 3: I won't really be struggling or anything. I can take
15:27
Speaker 3: my time a little bit.
15:28
Speaker 2: Yeah, And I mean, no one goes into medicine assuming
15:31
Speaker 2: it's going to be quick and you know, a breeze.
15:33
Speaker 2: But it sounds like a massive commitment when you talk
15:36
Speaker 2: about seven or eight years and then you get an
15:38
Speaker 2: internship and stuff. Did you have to kind of give
15:41
Speaker 2: yourself a pep talk or you know, am I really
15:44
Speaker 2: doing this kind of chat before you committed to it?
15:46
Speaker 3: Oh? Every day with me, there's definitely moments that come up,
15:53
Speaker 3: especially things there's money. I felt like I was going
15:56
Speaker 3: to really struggle this year, but I think, thank God
16:00
Speaker 3: for all of the coronavirus supplements. They've really got to
16:03
Speaker 3: help with everything, which even it's not even the coronavirus
16:07
Speaker 3: that's really affected me, but it's just sort of a
16:10
Speaker 3: good thing that's come out of it in terms of money,
16:13
Speaker 3: and I think for most people they'd being sort of
16:15
Speaker 3: a similar situation.
16:17
Speaker 2: But I got a question for Victoria or maybe both
16:20
Speaker 2: of you guys.
16:21
Speaker 1: Yes, this is not my money, Diari ask me.
16:24
Speaker 2: I think, and I guess we don't want to set
16:26
Speaker 2: the bar too low. But I think if you're studying,
16:30
Speaker 2: I remember reading the group, someone goes, I'm studying, so
16:32
Speaker 2: I'm struggling to save and I want to invest. And
16:34
Speaker 2: I just think, if you're studying, you're investing in your future.
16:36
Speaker 2: And if all you can do is break even and
16:39
Speaker 2: finish your study, oh my gosh, yeah, then more you've
16:42
Speaker 2: done more than enough and that's a really great place
16:44
Speaker 2: to be.
16:44
Speaker 1: And so part of your journey, like your journey, isn't
16:47
Speaker 1: going to be investing all the time. There is no
16:50
Speaker 1: way I could have afforded to invest or even save
16:54
Speaker 1: as much as I see other people in the community
16:57
Speaker 1: doing at that age. When I was at UNI, I
17:00
Speaker 1: was literally breaking even. And for those of you who
17:03
Speaker 1: know a little bit about my money story, I was
17:05
Speaker 1: in debt. I did take out a personal loan to
17:07
Speaker 1: study overseas. I was going backwards, like and I think
17:11
Speaker 1: that that can be part of your journey and shouldn't
17:13
Speaker 1: bash yourself over it.
17:15
Speaker 2: Yeah, so, future doctor, which is what I'm calling you
17:18
Speaker 2: now apparents. Obviously you're quite driven and where you are
17:24
Speaker 2: is quite impressive, But do you give yourself permission to go, Hey,
17:29
Speaker 2: i'm studying. If all I do is break even this year,
17:31
Speaker 2: then that's more than okay, because I feel like you're
17:33
Speaker 2: putting a fair bit of pressure on yourself.
17:34
Speaker 1: I can feel it.
17:36
Speaker 3: I feel like I don't, but I know I should.
17:39
Speaker 3: My boyfriend's also like a medical student in the exact
17:41
Speaker 3: fame scenario. Check this out.
17:43
Speaker 1: Yeah together, Yeah, they're going to have a really nice house, right.
17:47
Speaker 2: Yeah, I can already pitch I'm coming a visit.
17:51
Speaker 3: But he definitely does give that to himself, and it's
17:56
Speaker 3: something I'm quite jealous with him that he doesn't care
17:59
Speaker 3: at the moment because he knows that in a few
18:01
Speaker 3: years he'll be okay. But for me not having that
18:05
Speaker 3: security right now, and also seeing because my degree is
18:08
Speaker 3: so much longer than the rest of my friends seeing
18:10
Speaker 3: them right now graduated in full time jobs, well, I'm
18:13
Speaker 3: still sort of in that uni ram and lifestyle. It
18:18
Speaker 3: is a little bit frustrating seeing myself and thinking I'm behind.
18:23
Speaker 2: You're going to be a doctor, maate, You're going to
18:25
Speaker 2: be a I.
18:26
Speaker 1: Actually have a lot of clients who are baby doctors.
18:30
Speaker 1: I don't know how this is eventuated, but a number
18:32
Speaker 1: of them they're going to be listening being like, yes,
18:34
Speaker 1: this is exactly what you said to us, and when
18:36
Speaker 1: to turn the podcast off. I've heard everything. But I
18:39
Speaker 1: feel like doctors are a little bit like slingshots. They
18:42
Speaker 1: like feel like they're going a little bit further backwards.
18:44
Speaker 1: They can see their friends ahead of them, but once
18:47
Speaker 1: the slingshot is like go of, they're like miles ahead
18:50
Speaker 1: because of the groundwork that they've done and put in,
18:52
Speaker 1: And like, as you said before, the grad salary for
18:55
Speaker 1: a doctor is pretty good out of UNI.
18:59
Speaker 2: I think.
18:59
Speaker 1: I don't know where you are studying or like the location,
19:02
Speaker 1: and we don't have to disclose that, but I know
19:04
Speaker 1: in Melbourne a grad salary for a doctor starts at
19:07
Speaker 1: about seventy thousand a year, which is really good in
19:11
Speaker 1: my opinion, And I think it's one of those things
19:14
Speaker 1: that you actually end up further ahead in the long
19:16
Speaker 1: term because you've got this grounding and You've spent the
19:20
Speaker 1: time doing the groundwork to actually sustain yourself and create
19:23
Speaker 1: that future. And I feel like so many people get
19:26
Speaker 1: down about it, and it's like, no, no, no, don't worry,
19:29
Speaker 1: keep eating your arm. And because it is going to
19:31
Speaker 1: be spaghetti linguini really soon.
19:35
Speaker 3: Yeah, I feel like that's something I definitely need a
19:38
Speaker 3: sort of I'll remind.
19:40
Speaker 1: You it's okay, just call me whenever. I'll let you know.
19:43
Speaker 1: I can't eat spaghetti linguini, but if I could, I
19:45
Speaker 1: would eat it with you.
19:48
Speaker 2: Now, this might not be as big a problem for
19:51
Speaker 2: you as it might be for some others, considering you know,
19:54
Speaker 2: the end of the slingshot firing.
19:56
Speaker 1: Is that wasn't a gron no.
19:58
Speaker 2: That was perfect, Thank you. That was great. When you
20:02
Speaker 2: said I want to invest more, and I want to invest,
20:04
Speaker 2: you know, lots and lots, but I also want to
20:06
Speaker 2: buy a house, the first thing that came to mind
20:08
Speaker 2: was you might need to choose or at least prioritize
20:13
Speaker 2: one of those things over the other. It might be
20:15
Speaker 2: hard to do both. Maybe not slink shot hashtag slink shot,
20:19
Speaker 2: But where do you think you'll if you had to
20:21
Speaker 2: kind of choose or prioritize what's more important.
20:23
Speaker 3: For you right now, probably investing, and the house goal
20:29
Speaker 3: is I don't know whether I just want it because
20:31
Speaker 3: everyone else thought of has it, or whether it's actually
20:35
Speaker 3: something that I want, which is something I sort of
20:37
Speaker 3: need to sort of sit down and sort of think
20:40
Speaker 3: about or sort of ponder over it for the next
20:42
Speaker 3: sort of five ten years.
20:44
Speaker 1: But you've got more, yeah time, my friend.
20:49
Speaker 3: Yeah, I think sort of I like that come and
20:54
Speaker 3: money isn't a bad being so young, because I know
20:56
Speaker 3: a few of my friends sort of still don't really
21:00
Speaker 3: like talking about money, whereas I'm very open and I
21:03
Speaker 3: love like talking about what are you guys invested in
21:05
Speaker 3: and everything. But yeah, I have a few friends and
21:08
Speaker 3: money sort of like a bit of a taboo topic,
21:11
Speaker 3: which I think is sort of a little bit of
21:13
Speaker 3: a bad thing to have when you're so young, because
21:17
Speaker 3: you can sort of get acquainted to everything so early
21:20
Speaker 3: and learn about investing and make mistakes early so that
21:23
Speaker 3: later on.
21:23
Speaker 1: Your totally totally agree with that. And I actually find
21:27
Speaker 1: it really funny because you're mentioning that you've got some
21:30
Speaker 1: friends who you know money is a bit taboo, and
21:33
Speaker 1: if you're listening to this podcast. You probably don't feel
21:35
Speaker 1: the same way, but you might have friends that are similar.
21:38
Speaker 1: But I am so used to talking about money now,
21:42
Speaker 1: and like I talk about money with my team all
21:44
Speaker 1: the time, and I talk about it with my family
21:46
Speaker 1: and my friends.
21:47
Speaker 2: And you know what's great. I love just walking into
21:49
Speaker 2: elf skirt. Oh what's that favor? Would you pay for that? Yeah?
21:51
Speaker 4: Literally?
21:52
Speaker 1: But like, we talk about it so openly, and I'm
21:54
Speaker 1: not going to be quite about something. I'll be like, oh, yeah,
21:57
Speaker 1: this cost x or this is what this is, and
21:59
Speaker 1: you know, I am very open and honest about it.
22:02
Speaker 1: I'm always a little bit jarred when I come up
22:04
Speaker 1: against somebody who maybe doesn't want to have that conversation,
22:08
Speaker 1: because I'll be like, oh, money x y Z and
22:10
Speaker 1: they'll be like roadblock, and I'll be like, oh wait,
22:13
Speaker 1: hold on, sorry, I didn't mean to make you uncomfortable
22:16
Speaker 1: with that, because you know, obviously we actually's on money
22:20
Speaker 1: and it's such a central topic to what we do
22:23
Speaker 1: and we live it and we breathe it. So when
22:25
Speaker 1: you come up against other people, I'm like, oh, wait,
22:28
Speaker 1: what other people don't other people don't share this? What
22:30
Speaker 1: do you mean I own X amount? So it's I
22:34
Speaker 1: think it's really cool to be surrounded by like minded people,
22:37
Speaker 1: but at the same time, totally respect the boundaries of
22:40
Speaker 1: other people. If they're not ready to share it, that
22:41
Speaker 1: is totally okay.
22:43
Speaker 2: Can I just add, though, if you do a similar
22:44
Speaker 2: job or work at the same company, it's actually in
22:46
Speaker 2: your interest to chat with people. So when you're negotiating
22:49
Speaker 2: your salary, you go, well, I'm doing this job same
22:52
Speaker 2: as that person. They're getting five grand more. Is there
22:54
Speaker 2: any reason for that? Or can I have the same
22:55
Speaker 2: pay and one hundred percent?
22:57
Speaker 1: We need to normalize that. You know how many people like, oh, sorry,
23:00
Speaker 1: you're not meant to talk about our salaries with your peers.
23:02
Speaker 2: I bosso say that, and you're like, well, good for you, mate,
23:04
Speaker 2: I'm going to yeah.
23:05
Speaker 1: But some people have it in their contracts.
23:08
Speaker 2: I've got a prickly question, Oh what is it? I
23:12
Speaker 2: feel like this topic has read its head a few
23:15
Speaker 2: times in this episode, so I'm just going to put
23:17
Speaker 2: it on the table. And I'm not meaning to be rude.
23:19
Speaker 1: This is coming as much was shocked to you as it.
23:22
Speaker 2: Is to I. Money Diarist. Is it possible that we
23:28
Speaker 2: have a slight bit of fomo issues to work through
23:31
Speaker 2: because I feel like you've mentioned a few times my
23:34
Speaker 2: friends are doing this.
23:35
Speaker 1: She literally said she had POMO issues. You're listening, That's
23:38
Speaker 1: why I'm following up. Yeah, but like it's not prickly
23:42
Speaker 1: she mentioned it.
23:42
Speaker 2: I'm just trying to ease the burden of what's an
23:44
Speaker 2: all good question against as you have previously mentioned, is
23:53
Speaker 2: that something you've kind of gone, oh, I've noticed this
23:55
Speaker 2: about me. Like then that not that you have to
23:57
Speaker 2: like fix it, but just being aware of foma off
24:00
Speaker 2: and you know, helps you kind of go, oh, it's
24:01
Speaker 2: not a huge deal. If I miss out on a
24:03
Speaker 2: few things, yes.
24:06
Speaker 3: But then I also feel like when I don't go
24:09
Speaker 3: to things, I sort of regret it more. And I
24:12
Speaker 3: look at my friends on Instagram and like seeing them
24:14
Speaker 3: all together and everything that makes me feel worse than
24:17
Speaker 3: if I went and spent like one hundred dollars on
24:19
Speaker 3: drinks out or something.
24:21
Speaker 1: Oh, you got to delete Instagram. That's why she's never
24:26
Speaker 1: tagged anything.
24:28
Speaker 2: I love that I would get rid of my FOMO,
24:30
Speaker 2: but I just want to go to the party.
24:32
Speaker 1: I also really like that that's been George's only comment
24:35
Speaker 1: in this money diary. She sat back.
24:39
Speaker 3: Drinking red.
24:39
Speaker 1: But that stood out to me. I have words.
24:42
Speaker 2: What's the opposite of fomo? I have this fear of
24:45
Speaker 2: going to a party and at being crap is more
24:48
Speaker 2: of going out.
24:48
Speaker 1: I believe it's called I have that. I am genuinely
24:54
Speaker 1: so introverted. Obviously, I'm quite extroverted in this situation because
24:59
Speaker 1: it's just me, a microphone and people I really know.
25:02
Speaker 1: But if you go, hey, Victoria, do you want to
25:03
Speaker 1: go to this big party? I'm like, Aha, No, And
25:06
Speaker 1: then I see it on the Instagram and I'm like,
25:08
Speaker 1: glad I didn't go to that.
25:09
Speaker 2: Could you imagine Victoria Divine at a music festival?
25:13
Speaker 1: Literally not me. I would be like, can we go now?
25:16
Speaker 1: Like I get antsy and need to leave. I'm just
25:19
Speaker 1: the exact opposite of everybody.
25:22
Speaker 2: When I worked with Sorry that money, do we have
25:24
Speaker 2: just hijacked your money? When I worked with Tanya Hennessy
25:28
Speaker 2: back in the day we went to Groove in the
25:30
Speaker 2: movie guess what time she left? Time three thirty in
25:33
Speaker 2: the afternoon.
25:34
Speaker 1: I reckon we would have got along.
25:36
Speaker 2: Really, you guys would have gone on, get busy, you
25:39
Speaker 2: want to take.
25:39
Speaker 1: Off see a couple of things, And I reckon, there's
25:42
Speaker 1: time for her wine and a cheese.
25:44
Speaker 2: Play somewhere else other than where other people are. Hey,
25:47
Speaker 2: money Diarist, good luck with the rest of your studies.
25:50
Speaker 1: You for joining us today to get me. Oh quick question,
25:54
Speaker 1: what kind of doctor do you want to be?
25:56
Speaker 3: I don't know. I get every day.
25:59
Speaker 1: No, I assumed you and you know what. You don't
26:01
Speaker 1: have to choose yet you get to do all year rounds.
26:04
Speaker 3: Yeah, I think I'm not sure. I really like ostetrics
26:07
Speaker 3: and gynecology at the moment, so that's sort of where
26:10
Speaker 3: I'm leaning, but also haven't really made my mind up.
26:12
Speaker 1: At the same time, you do not have to make
26:14
Speaker 1: your mind up. I am just pervy and want to
26:16
Speaker 1: know all the answer the questions. But thank you so
26:19
Speaker 1: so much for joining us today. I'm genuinely so grateful
26:22
Speaker 1: that people want to share their money diaries with us
26:24
Speaker 1: because we get to learn and I think it's just
26:26
Speaker 1: so special. So thank you, and I think that's all
26:29
Speaker 1: we have time for for today.
26:32
Speaker 3: Thank you so much.
26:35
Speaker 1: Just before we head off, we'd like to acknowledge and
26:36
Speaker 1: pay respects to Australia's Aboriginal and Torrest trade islander people's
26:40
Speaker 1: the traditional custodians of the lands, the waterways and the
26:43
Speaker 1: skies all across Australia. We thank you for sharing and
26:46
Speaker 1: for caring on the land which we are able to learn.
26:49
Speaker 1: We pay our respects to Elder's past and present, and
26:51
Speaker 1: we share our friendship and oug kindness. Now, the advice
26:54
Speaker 1: shared on She's on the Money is generally nature does
26:57
Speaker 1: not consider your individual circumstances. She's on the Money exists
27:00
Speaker 1: purely for educational purposes and should not be relied upon
27:03
Speaker 1: to make an investment or a financial decision. And now
27:06
Speaker 1: we do promise I am an authorized representative of Australia
27:09
Speaker 1: Pacific Funds Management Proprietor Limited ABM three four one three
27:13
Speaker 1: two four six three two five seven, I ever sell
27:15
Speaker 1: three three nine one five one. And thank you as
27:18
Speaker 1: always to our dream team Ryan and Beck for pulling
27:21
Speaker 1: this shiny episode together