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My Investment Property Dream Became a Financial Nightmare · She's On The Money

• 0:00
  Speaker 1: My name is Tatasha Bamblet. I'm a proud First Nations
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  Speaker 1: woman and I'm here to acknowledge country t Glenn Young
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  Speaker 1: Ganya Niana, Kaka yah Ya bin Ahaka nian Ar gay
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  Speaker 1: In Mbina yakarum jar dominyamiga Umagahawakawaman damon Imlan Bumba bang
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  Speaker 1: Gadabomba in and now in wakah ghana on yakraum jar Watnadaa. Hello,
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  Speaker 1: beautiful friends, we gather on the lands of the Aboriginal people.
• 0:26
  Speaker 1: We thank I acknowledge and respect the Aberiginal people's land
• 0:29
  Speaker 1: that we're gathering on today. Take pleasure in all the
• 0:31
  Speaker 1: land and respect all that you see. She's on the
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  Speaker 1: Money podcast acknowledges culture, country, community and connections, bringing you
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  Speaker 1: the tools, knowledge and resources for you to thrive.
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  Speaker 2: She's on the Money.
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  Speaker 3: She's on the Money. Hello, and welcome to She's on
• 1:10
  Speaker 3: the Money, the podcast that lets you be pervy about
• 1:12
  Speaker 3: other people's money habits for educational purposes, of course. Welcome
• 1:17
  Speaker 3: back to another one of our money daries where we
• 1:19
  Speaker 3: get the absolute pleasure of talking with one of our
• 1:21
  Speaker 3: incredible She's on the Money. Can community members all about
• 1:24
  Speaker 3: their journey. Let's jump straight into it, because this week
• 1:27
  Speaker 3: I got a message and it sounded exactly like this. Hi,
• 1:31
  Speaker 3: she's on the money. I always worked hard from a
• 1:33
  Speaker 3: young age. My husband he joined the navy and I
• 1:36
  Speaker 3: became a nurse. We purchased our first investment property the
• 1:40
  Speaker 3: year we got married, and a second investment property the
• 1:43
  Speaker 3: year our first daughter was born. Then it all fell apart.
• 1:47
  Speaker 3: The second investment property was a lemon. We were in
• 1:51
  Speaker 3: court with the builder for five years and lost everything.
• 1:55
  Speaker 3: But starting from zero again fourteen months ago, we have stay.
• 2:00
  Speaker 3: We have to one hundred thousand dollars and are now
• 2:02
  Speaker 3: looking to buy a new investment and forever home money.
• 2:06
  Speaker 3: Does that sounds like a roller coaster that I don't
• 2:08
  Speaker 3: want to be on.
• 2:09
  Speaker 2: No, I didn't want to be on an either.
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  Speaker 3: It was absolutely awful, non consensual roller coaster. It was
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  Speaker 3: just it was horrific. Oh my god, I'm so sorry.
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  Speaker 2: We've come out the other side and ready to start again.
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  Speaker 2: Oh God.
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  Speaker 3: All right, Well, let's dive straight into it before I
• 2:25
  Speaker 3: ask you to tell me a little bit more. I
• 2:27
  Speaker 3: want to know what grade would you give your money
• 2:28
  Speaker 3: habits if I asked you to give them a grade
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  Speaker 3: from A through to F. I would say, c all right,
• 2:34
  Speaker 3: that's A I'm in, that's middle ground, that's okay, Yeah,
• 2:36
  Speaker 3: that's all right. So tell me a bit more about
• 2:39
  Speaker 3: this money story. I feel like that's a like relatively
• 2:43
  Speaker 3: stereotypical love story. Met my husband, he went into the navy,
• 2:47
  Speaker 3: I became a nurse. We had a daughter, Like, how cute?
• 2:50
  Speaker 3: Tell me more?
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  Speaker 2: Yeah, so, gosh, where to start. So I grew up
• 2:55
  Speaker 2: in like a normal kind of you know ouzsie household.
• 2:59
  Speaker 2: Parents worked really hard for everything. You know. I worked
• 3:02
  Speaker 2: from a very young age, you know, doing the paper
• 3:05
  Speaker 2: round and then baby sitting in the street, and then
• 3:08
  Speaker 2: you know, I started working at cam Up when I
• 3:10
  Speaker 2: was fifteen, and that's where I met my husband, packing shelves.
• 3:14
  Speaker 2: I came up, and then yeah we went off and
• 3:16
  Speaker 2: you know, went to UNI and got our full time jobs.
• 3:18
  Speaker 2: And I remember going to like the brick and brack
• 3:23
  Speaker 2: kind of markets and my dad handing me a book,
• 3:26
  Speaker 2: you know, the rich Dad, Poor Dad book, and.
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  Speaker 3: Oh yeah, yeah, yeah. I feel like that had a
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  Speaker 3: massive viral moment before virality was.
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  Speaker 2: Effense, before all the you know, like you guys came along,
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  Speaker 2: it was that was the Bible Book, and you know,
• 3:41
  Speaker 2: my parents really valued property and shares, and so we
• 3:47
  Speaker 2: didn't have a lot of money. We had like a
• 3:48
  Speaker 2: crappy car and you know, the bare minimum, but they
• 3:51
  Speaker 2: always had investments and that was kind of really dropped
• 3:54
  Speaker 2: into me. So I always wanted that for myself. So
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  Speaker 2: kind of going down the line, we got married and
• 4:02
  Speaker 2: we had saved and got our first investment property in Brisbane.
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  Speaker 2: It was a two bedroom, which was amazing, and then
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  Speaker 2: we kept saving and used the equity off that to
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  Speaker 2: purchase another property, which we thought, you know, perfect, another
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  Speaker 2: two bedroom in our range.
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  Speaker 3: The stepping stone that was part of the plan.
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  Speaker 2: Yeah, well we were building the plan. We'd married, we'd had,
• 4:25
  Speaker 2: you know, had an investment property, we had our first
• 4:27
  Speaker 2: daughter bought the second investment property. I mean, all was
• 4:30
  Speaker 2: going fine. It was rented out, we were having good
• 4:33
  Speaker 2: rental return on it, no problems. So then we were
• 4:36
  Speaker 2: holidaying in Hawaii and we get a phone call from
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  Speaker 2: the real estate going the whole place has flooded. No,
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  Speaker 2: And I thought flooded, Like, what do you mean like
• 4:46
  Speaker 2: a little bit of water And she was like, no,
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  Speaker 2: the furniture is floating. And I was like I don't
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  Speaker 2: understand when you're talking about. We were the bottom unit,
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  Speaker 2: so half of the unit was kind of built into
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  Speaker 2: a hill.
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  Speaker 3: Was that weather related or like did someone flo a bath?
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  Speaker 3: Like how did this flood happen?
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  Speaker 2: Well, it was rain, so it had come down the
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  Speaker 2: hill and the way that the drainage was done outside
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  Speaker 2: the property, it was draining straight into a.
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  Speaker 3: Door, and that's something the builder absolutely should have factor
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  Speaker 3: it in with their design. That's okay.
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  Speaker 2: So that's where it kind of began. And so it's
• 5:19
  Speaker 2: kind of in a country town, so we were having
• 5:21
  Speaker 2: to source water pumps and cup you know, to pump
• 5:24
  Speaker 2: the water out. And obviously, like I'm on a different
• 5:27
  Speaker 2: time zone, I'm in Hawaii, you know, this had to
• 5:30
  Speaker 2: be dealt with there. And then it was so stressful
• 5:32
  Speaker 2: and so obviously our tenant had to move out straight away. Yeah,
• 5:35
  Speaker 2: and then when we got down to the nitty gritty
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  Speaker 2: of it, we got an engineer in to have a
• 5:41
  Speaker 2: look and he was like, I don't think this wall
• 5:44
  Speaker 2: that's built into the hill is waterproofed. And I was like,
• 5:47
  Speaker 2: what do you mean? And he's like, the better block
• 5:50
  Speaker 2: is so damp, and I thought, oh, that's weird.
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  Speaker 3: Yeah, because like I don't mean to be offensive. I
• 5:54
  Speaker 3: haven't asked you what you do for work yet, but like,
• 5:57
  Speaker 3: why would you know that it was meant to be
• 5:59
  Speaker 3: waterproof either? Is the builder and the like designer meant
• 6:02
  Speaker 3: to know? And you're probably like, okay.
• 6:04
  Speaker 2: So it's dare Well, it gets a bit more deep.
• 6:08
  Speaker 3: I'm listening. I'm listening.
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  Speaker 2: Sorry. So then all of a sudden he's looking around.
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  Speaker 2: He's going, I don't think this bathrooms waterproofed either, And
• 6:17
  Speaker 2: then he went upstairs to the unit above because we
• 6:20
  Speaker 2: started getting like moisture on the roof in front of
• 6:23
  Speaker 2: the bedrooms, and he's like, the bathroom above you isn't
• 6:26
  Speaker 2: waterproofed because the shower was leaking into one of the rooms.
• 6:31
  Speaker 2: And so then we've got a structural engineer in and
• 6:34
  Speaker 2: he kind of went through and said, oh my gosh,
• 6:37
  Speaker 2: before units in this strata a shot, this builder has
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  Speaker 2: just done the dodgy Oh no.
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  Speaker 3: And waterproofing.
• 6:45
  Speaker 2: Sorry, isn't that just space.
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  Speaker 3: I know that I've got no idea when it comes
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  Speaker 3: to building, but like waterproofing, I know that's a thing.
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  Speaker 3: I don't know how to do it, but I know
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  Speaker 3: it needs doing.
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  Speaker 2: One hundred percent. How can you have a wet space
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  Speaker 2: that isn't waterproofed, or have a bil building that's built
• 7:00
  Speaker 2: into a hill not waterproofed between the building anyway, It
• 7:05
  Speaker 2: was a nightmare. And so then when we started looking
• 7:08
  Speaker 2: into it, this builder was in multiple lawsuits with multiple
• 7:12
  Speaker 2: different people.
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  Speaker 3: No, and that's like the last thing you want to see,
• 7:15
  Speaker 3: because you go, this guy, this ain't his first radio.
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  Speaker 2: He is a total con artist. And then when we
• 7:21
  Speaker 2: started going down the line, we realized that the real
• 7:23
  Speaker 2: estate agent that sold it to us was a friend
• 7:26
  Speaker 2: of his, and the building and pest inspection guy was
• 7:30
  Speaker 2: a friend of his. And it was just this massive,
• 7:34
  Speaker 2: big scheme. It was just, you know, we got sucked in.
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  Speaker 3: So they all still have jobs? Do they all still work?
• 7:39
  Speaker 2: Well? I got the builder's license revoked.
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  Speaker 3: Oh good job, queen, Yes I did.
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  Speaker 2: But then you know what he did. He went off
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  Speaker 2: and started building demountables on his property and selling those
• 7:50
  Speaker 2: which were dodgy.
• 7:51
  Speaker 3: Yeah, of course he did.
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  Speaker 2: So you know, they find a way. They closed down
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  Speaker 2: their business, open up a new ABN and start summerfresh.
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  Speaker 2: All the organizations and the government everyone protects the builders.
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  Speaker 2: They don't protect the buyer, which is really unfortunate. So
• 8:05
  Speaker 2: we obviously because it was a new home we had
• 8:07
  Speaker 2: the new homeowners like the seven year warranty period that
• 8:09
  Speaker 2: did nothing for us. Long story short, we had to
• 8:12
  Speaker 2: get all the strata involved and take him to court.
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  Speaker 2: It dragged on actually seven months now I look back
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  Speaker 2: on Oh, and during that time we couldn't sustain having
• 8:23
  Speaker 2: a property that had no rental income. So we're paying
• 8:26
  Speaker 2: the mortgage, the strata, the land rates and so we
• 8:31
  Speaker 2: unfortunately had to sell our first investment property in Brisbane
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  Speaker 2: because I couldn't float them both. But I couldn't sell
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  Speaker 2: this one.
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  Speaker 3: No, absolutely not. And you had a kid as well,
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  Speaker 3: Like absolutely no.
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  Speaker 2: So we lost that property, which was really sad because
• 8:43
  Speaker 2: it'd be worth a lot today.
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  Speaker 3: Do you know what we're not thinking about that there
• 8:46
  Speaker 3: is a reason this stuff happens, and it's really terrible.
• 8:50
  Speaker 3: But like, give me ten years and you're going to
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  Speaker 3: come back and be like, oh, guess what we've done.
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  Speaker 3: I know, best thing ever And that's shit because when
• 8:57
  Speaker 3: the light at the end of the tunnel hasn't been
• 8:59
  Speaker 3: reached yet, so it does feel like trash. But like
• 9:01
  Speaker 3: I just I think we need to have a toxic
• 9:03
  Speaker 3: level of optimism sometimes to help ourselves through these situations.
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  Speaker 2: I'm there now, but you know me. Eighteen months ago
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  Speaker 2: it was in a hole. So we sold that investment property.
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  Speaker 2: We did get a settlement, but it had to be
• 9:17
  Speaker 2: split between It was for rectification, so they said, this
• 9:20
  Speaker 2: is what needs to be fixed in each individual unit.
• 9:23
  Speaker 2: This is how much it will cost to rectify it.
• 9:26
  Speaker 2: But that was done like, say, three years ago. So
• 9:29
  Speaker 2: by the time we got the money three years later,
• 9:32
  Speaker 2: obviously the cost of everything's gone up, the cost of labor,
• 9:36
  Speaker 2: the cost of the actual building supplies, so it couldn't
• 9:39
  Speaker 2: cover anything. So our only option was we stripped the
• 9:43
  Speaker 2: place bare back to its bare bones, and we sold
• 9:47
  Speaker 2: it as is, and we solved it for half of
• 9:50
  Speaker 2: what we bought it for. No, but also that's the
• 9:53
  Speaker 2: best thing, the only way we could do it, because
• 9:55
  Speaker 2: no one wanted to touch it, because all the locals
• 9:57
  Speaker 2: knew the builder, they knew that they were buying somewhat lemon.
• 10:03
  Speaker 2: So we sold it with enough to close the mortgage,
• 10:07
  Speaker 2: and that left us at zero zero dollars in the bank.
• 10:10
  Speaker 2: I had a little bit of investments, not much like
• 10:13
  Speaker 2: five thousand here. Blah blah blah, I had to close
• 10:15
  Speaker 2: all those pull everything that I had. We had to
• 10:19
  Speaker 2: borrow twenty grand from my partner's mum just to close it.
• 10:24
  Speaker 3: But that's just another level of stress.
• 10:26
  Speaker 2: Yeah, but you know what, like it's done and it's
• 10:28
  Speaker 2: gone and we started rebuilding financially.
• 10:32
  Speaker 3: How bloody is stressful. I'm so sorry you've gone through that.
• 10:35
  Speaker 3: I wish we could like name and shame and be like,
• 10:38
  Speaker 3: don't talk to this agent. We don't talk to this
• 10:41
  Speaker 3: building and past inspector, Like, ill, that's so gross. I'm
• 10:46
  Speaker 3: really sorry that you've been through that. Tell me a
• 10:49
  Speaker 3: little bit more about your family though you said we
• 10:51
  Speaker 3: had our first daughter, Yes, does that mean that there
• 10:55
  Speaker 3: are more children?
• 10:57
  Speaker 2: We have two girls, one is nine and one is
• 11:01
  Speaker 2: it Oh gorge a and they are a delight. They're
• 11:04
  Speaker 2: really good girls.
• 11:05
  Speaker 3: I love that. And then tell me more about this,
• 11:07
  Speaker 3: Like you met your husband he joined the navy. I
• 11:09
  Speaker 3: feel like that means that he might have spent a
• 11:11
  Speaker 3: lot of time away, Like how did that work in
• 11:13
  Speaker 3: your marriage, especially when you like first got married, Like,
• 11:17
  Speaker 3: I don't know, I wouldn't love having my husband away
• 11:19
  Speaker 3: all the time.
• 11:20
  Speaker 2: No, I'm needy, you say, really needy too, and I'm
• 11:23
  Speaker 2: actually looking back on the periods of when he was away.
• 11:26
  Speaker 2: Was quite dark period, but.
• 11:28
  Speaker 3: Good to talk about because I'm sure that you're not
• 11:30
  Speaker 3: the only one that experienced so no.
• 11:32
  Speaker 2: And I meet so many people you know, with partners
• 11:35
  Speaker 2: and defense or have their dads been in defense, and
• 11:38
  Speaker 2: they've got stories growing up of you know, feeling really lonely.
• 11:43
  Speaker 2: It is really hard because you move away from your family.
• 11:47
  Speaker 2: So we're originally from Queensland. When he joined the navy,
• 11:51
  Speaker 2: we obviously moved down to Melbourne, down to Cerberus and
• 11:54
  Speaker 2: lived down there, which was fun. But then we moved
• 11:57
  Speaker 2: to Sydney and he went away a lot and deployments
• 12:01
  Speaker 2: could be anywhere from twelve weeks and the longest one
• 12:04
  Speaker 2: he did was nine months, and that was when I
• 12:08
  Speaker 2: was pregnant with my first daughter. So I'm living in Sydney,
• 12:12
  Speaker 2: I'm pregnant, I'm working full time shiftwork as a.
• 12:16
  Speaker 3: Nurse, and you're going home and there's nobody to rub
• 12:18
  Speaker 3: your feet or tell you it's okay, or Fiji strawberry
• 12:20
  Speaker 3: ice cream or do any of those things that you
• 12:22
  Speaker 3: deserve when you are pregnant.
• 12:24
  Speaker 2: Driving myself to the hospital with a breech baby where
• 12:27
  Speaker 2: I can't breathe, like, do you know? It was a lot.
• 12:30
  Speaker 2: He came back a week before I had her.
• 12:33
  Speaker 3: Oh I'm glad. I was about to say, did you
• 12:36
  Speaker 3: drive yourself to the hospital because you gave birth without him? No?
• 12:39
  Speaker 2: No, no, I'm very lucky. But I'm a midwife as well.
• 12:43
  Speaker 3: And oh you were prepared. You didn't even need him.
• 12:45
  Speaker 2: To need him. But there was a few times where
• 12:47
  Speaker 2: I was in births with women whose husbands were in
• 12:50
  Speaker 2: defense and they were just there with their neighbor or
• 12:53
  Speaker 2: a birth partner.
• 12:54
  Speaker 3: But you know what, you're the midwife they needed at
• 12:56
  Speaker 3: that moment, because you would have been like, I get
• 12:58
  Speaker 3: a girl, that's my stitch too, let's do this. Yeah,
• 13:01
  Speaker 3: there would have been some good vibes in those rooms.
• 13:03
  Speaker 2: Yeah. No, we actually we had fun and we had
• 13:04
  Speaker 2: to laugh like it is hard. So we had our
• 13:07
  Speaker 2: first daughter. And then three months later he had to
• 13:10
  Speaker 2: go on a deployment again, and at this time, so
• 13:13
  Speaker 2: we packed up. I packed up my life in Sydney,
• 13:16
  Speaker 2: left all my girlfriends, my beautiful house on the Northern Beaches,
• 13:20
  Speaker 2: and went back and lived with mum and dad in Brisil,
• 13:22
  Speaker 2: because like, what was I doing was I'm Mattley sitting
• 13:25
  Speaker 2: in a house by myself with a newborn, and I
• 13:27
  Speaker 2: was like, I'm not doing this.
• 13:29
  Speaker 3: You know what, that's the best option and if that's
• 13:31
  Speaker 3: an opportunity for you, Like, do you know what, your
• 13:33
  Speaker 3: parents probably loved it.
• 13:34
  Speaker 2: Yeah, so mom and dad loved it because you know,
• 13:36
  Speaker 2: my daughter was the first grandchild, and obviously my brothers
• 13:39
  Speaker 2: and sisters were all up there. So no, it was
• 13:42
  Speaker 2: it was nice. But in a way it was good
• 13:44
  Speaker 2: because that's when the whole debacle happened, you know, Like
• 13:48
  Speaker 2: I was up in Brisy, we went over to Hawaii
• 13:51
  Speaker 2: to visit him on a deployment and that's where it
• 13:53
  Speaker 2: all fell apart.
• 13:54
  Speaker 3: So oh how stressful, very stressful.
• 13:58
  Speaker 2: But since then we've moved to around a bit. We
• 14:01
  Speaker 2: moved them back up to Brisbane where we had our
• 14:03
  Speaker 2: second daughter, which was really lovely, and then we got
• 14:07
  Speaker 2: posted back to Victoria at the beginning of COVID, which
• 14:13
  Speaker 2: was like the perfect timing. Moved down there for lockdown,
• 14:17
  Speaker 2: and then we moved to our current location in Canberra
• 14:22
  Speaker 2: the week that lockdown ended.
• 14:23
  Speaker 3: Oh perfect, So you really got to experience Melbourne for
• 14:26
  Speaker 3: its best.
• 14:26
  Speaker 2: Yeah, it was an interesting time, interesting time. And so
• 14:30
  Speaker 2: now we're up here and my husband's working here in Canberra.
• 14:34
  Speaker 2: He works full time. I work casually, but I still
• 14:38
  Speaker 2: I do about three days a week. And yeah, we're
• 14:41
  Speaker 2: just living our best lives.
• 14:43
  Speaker 3: So tell me a bit more about your career, because
• 14:46
  Speaker 3: when you are married to somebody in defense or married
• 14:50
  Speaker 3: to someone who has a similar job, there's a lot
• 14:52
  Speaker 3: of compromise that you would have had to make in
• 14:55
  Speaker 3: your career and in your life and in the jobs
• 14:57
  Speaker 3: that you take or can't take to make sure that
• 15:00
  Speaker 3: his dreams are reality. Right, So you know, I don't
• 15:03
  Speaker 3: think anyone who's still married to their partner and still
• 15:06
  Speaker 3: love their partner is like holding any animosity, but it's
• 15:09
  Speaker 3: still a good conversation to be had. So, how has
• 15:12
  Speaker 3: this impacted your career and what that looks like for
• 15:15
  Speaker 3: your income generation.
• 15:17
  Speaker 2: It actually hasn't, and I think I'm one of the
• 15:20
  Speaker 2: lucky ones. Like I know, it's a bit like cliche
• 15:23
  Speaker 2: a nurse and a sailor, but it actually works really well.
• 15:26
  Speaker 2: Because so I obviously, like before I had the girls,
• 15:29
  Speaker 2: I was working full time. I did me, he did him,
• 15:32
  Speaker 2: and that just worked with the girls and having kids
• 15:36
  Speaker 2: and moving and not having any support network every time
• 15:40
  Speaker 2: you move, because you're starting from zero with friendships. I'm lucky.
• 15:44
  Speaker 2: I'm in a job that's really social and you know,
• 15:47
  Speaker 2: us nurses kind of we will gather together and we
• 15:49
  Speaker 2: become our own little families, which is lovely, which I've
• 15:52
  Speaker 2: got here in Canberra. But since I had my first daughter,
• 15:56
  Speaker 2: I've stayed casual, and I know that has its disadvantages
• 16:01
  Speaker 2: in regards to obviously like long service and sick leave.
• 16:04
  Speaker 2: But in the same breath, I do get a twenty
• 16:07
  Speaker 2: five percent.
• 16:08
  Speaker 3: Penalty yah, which is you're casual.
• 16:11
  Speaker 2: So in a way it kind of works out. And
• 16:13
  Speaker 2: it just means that I work when I want to work,
• 16:16
  Speaker 2: and I don't work when I want to work, and
• 16:18
  Speaker 2: I can have the school holidays off, I can have Christmas.
• 16:20
  Speaker 2: I'm not fighting rosters. I'm not fighting people, you know,
• 16:24
  Speaker 2: to get time off. And also I think because I
• 16:27
  Speaker 2: do shift work, those extra penalties stack them, stacks me up.
• 16:33
  Speaker 2: So I was really quite surprised when I looked at like,
• 16:37
  Speaker 2: I don't kind of look at how much I earn
• 16:39
  Speaker 2: over the year. But when I did my tax this year,
• 16:41
  Speaker 2: my tax consult was like, oh, you've got ninety four
• 16:45
  Speaker 2: thousand this year, and I was like, what, no way,
• 16:49
  Speaker 2: excuse me.
• 16:51
  Speaker 3: So you're a ninety four thousand dollars earning casual midwife.
• 16:55
  Speaker 3: Is that correct? Like when you say that you're nurse,
• 16:57
  Speaker 3: like you're trained as a midwife or you like, what
• 16:59
  Speaker 3: type of nursing we doing?
• 17:00
  Speaker 2: Oh, I'm currently an intensive care nurse, so I work
• 17:03
  Speaker 2: in oh okayo care. So that's what I've done my
• 17:06
  Speaker 2: whole career. I just got a little bit bored the
• 17:09
  Speaker 2: year before I had my daughter, so I just decided, Oh,
• 17:11
  Speaker 2: I'm just going to go off and become a midwife.
• 17:14
  Speaker 2: It was really hard. It's really like all the nurses
• 17:16
  Speaker 2: out there that want to become a midwife like, go
• 17:19
  Speaker 2: for it. But that graduate diploma is hot.
• 17:21
  Speaker 3: Yeah, I can imagine.
• 17:23
  Speaker 2: Yeah, you're not only at UNI, but you're working and
• 17:27
  Speaker 2: there's so much involved and you have to be you
• 17:31
  Speaker 2: have to follow twenty women and be at five of
• 17:34
  Speaker 2: their appointments and then at their birth, and then after
• 17:36
  Speaker 2: birth you have to go to appointments. And that's for
• 17:38
  Speaker 2: twenty women, not just one. So it's like you're working
• 17:43
  Speaker 2: full time times too.
• 17:44
  Speaker 3: Yeah that's crazy, and like, don't get me wrong, I'm grateful.
• 17:47
  Speaker 2: But it's rewarding. But I find my passion is intensive care,
• 17:52
  Speaker 2: but the hospital that I work at I get to
• 17:54
  Speaker 2: do both. So I work a lot in intensive care,
• 17:57
  Speaker 2: but then I kind of can run downstairs and go
• 18:00
  Speaker 2: to maternity and play down there when they're short, so
• 18:02
  Speaker 2: I kind of get the best of both worlds.
• 18:04
  Speaker 3: I kind of would love that. Like I hated giving birth,
• 18:08
  Speaker 3: ended up in an emergency Caesar, so I just wasn't
• 18:10
  Speaker 3: actually that good at it. Yeah that's not good. I
• 18:13
  Speaker 3: mean I also had a posteria labor, which I didn't
• 18:15
  Speaker 3: know about until like when they were doing a C section,
• 18:18
  Speaker 3: They're like, no, wonder this hurt you for twenty four
• 18:20
  Speaker 3: hours while you were refusing all pain relief, Like I
• 18:24
  Speaker 3: was cooked? Why did you do that? And be like
• 18:26
  Speaker 3: I didn't know. So he didn't want to come out.
• 18:29
  Speaker 3: He came out the sunroof, which is absolutely fine, like
• 18:32
  Speaker 3: and he's maintained that level of bougie since then. But
• 18:35
  Speaker 3: tell me, I feel like at all intensive care would
• 18:38
  Speaker 3: be a lot, like mentally physically, Like that just sounds
• 18:42
  Speaker 3: very demanding.
• 18:42
  Speaker 2: A yeah it is. I've done it now for what
• 18:46
  Speaker 2: fifteen years? It is a lot, because you kind of
• 18:50
  Speaker 2: you see people at the most vulnerable. You see people
• 18:53
  Speaker 2: coming to the reality that you know they're coming to
• 18:56
  Speaker 2: the end of their life. You see massive traumas and
• 19:00
  Speaker 2: you know, dealing with things like suicide and or just
• 19:04
  Speaker 2: you know, we've had a lot of young mums recently
• 19:08
  Speaker 2: that have needed intubation because of flu and COVID and
• 19:12
  Speaker 2: having you know, little kids like five and eight year
• 19:15
  Speaker 2: olds in the room balling like it's really really hard.
• 19:18
  Speaker 2: But again, it's the adrenaline I love. I love the
• 19:22
  Speaker 2: excitement of a sick patient. I know that sounds odd, no.
• 19:26
  Speaker 3: No, no, but like I want you to say that,
• 19:28
  Speaker 3: Like if I'm in intensive care, I want the nurse
• 19:30
  Speaker 3: to be like passionate about the stuff she's doing, not
• 19:32
  Speaker 3: like nonchalant, doesn't want to be here, can't wait for
• 19:35
  Speaker 3: a break, Like that's not what I want to hear
• 19:36
  Speaker 3: in ICU.
• 19:37
  Speaker 2: No, we get the thrill and the excitement of you know,
• 19:40
  Speaker 2: hearing that piece. You know, really sick people are coming.
• 19:43
  Speaker 3: In, getting stuff done and then debriefing after.
• 19:45
  Speaker 2: Yeah, but saying that, there's a lot of burnout and
• 19:49
  Speaker 2: I feel like I'm kind of at getting to that point.
• 19:53
  Speaker 2: So I've actually starting a new role in three weeks
• 19:58
  Speaker 2: working from home gig, which is amazing because it means
• 20:01
  Speaker 2: that I can work more hours and longer hours, and
• 20:04
  Speaker 2: I'll still work in the hospital.
• 20:06
  Speaker 3: I was about to say, and you're still casual, so
• 20:07
  Speaker 3: you could probably pick up some stuff there and EBB
• 20:09
  Speaker 3: and flow.
• 20:10
  Speaker 2: Yeah, so I'm going to do the working from home
• 20:12
  Speaker 2: stuff in the week and then they're on Sunday, go
• 20:14
  Speaker 2: up and pick up my double time rates.
• 20:16
  Speaker 3: And I was about to say, Sunday rays, you can't
• 20:18
  Speaker 3: give that up.
• 20:19
  Speaker 2: That's just the one shift you cannot give up. So yeah,
• 20:22
  Speaker 2: I'm just kind of diverting a little bit, giving my
• 20:26
  Speaker 2: physical and mental health a bit of a break.
• 20:29
  Speaker 3: No, I think that that's really smart, because that's why
• 20:31
  Speaker 3: I was like, oh, ad, all intensive care sounds real
• 20:34
  Speaker 3: heavy like, and don't get me wrong, I think it
• 20:36
  Speaker 3: takes a very special person. And I'm getting that energy
• 20:38
  Speaker 3: from you that if I was sick, I want you
• 20:41
  Speaker 3: to look after me, like I just know I'd be
• 20:43
  Speaker 3: in good hands. But I just know that that comes
• 20:45
  Speaker 3: at your own emotional costs and your own burnout, and
• 20:48
  Speaker 3: like it's really shitty, but like that's the industry because
• 20:52
  Speaker 3: you know what if nurses, and I don't want nurses
• 20:54
  Speaker 3: to blourn out like that's awful. But also they're the
• 20:57
  Speaker 3: types of people that you want in the industry because
• 21:00
  Speaker 3: they're giving it. Literally they're all and you're kind of like, well,
• 21:03
  Speaker 3: that's why you guys should get paid more. Like ninety
• 21:05
  Speaker 3: four thousand dollars a year is great, but it's just
• 21:07
  Speaker 3: simply not enough from my perspective. So tell me a
• 21:10
  Speaker 3: little bit more about your next new role that you
• 21:13
  Speaker 3: start in three weeks work from home. What type of
• 21:15
  Speaker 3: salary changes a week?
• 21:16
  Speaker 2: And I see, so it's only a few extra dollars
• 21:20
  Speaker 2: an hour, but it just means that I can be
• 21:24
  Speaker 2: available to do more days. So currently in the hospital,
• 21:28
  Speaker 2: I do two ten hour night shifts a week.
• 21:31
  Speaker 3: Oh wow, okay, yep, yep.
• 21:32
  Speaker 2: And then I do an eight hour afternoon shift on
• 21:35
  Speaker 2: a Sunday, and I normally do an overtime, which terrible,
• 21:40
  Speaker 2: but it's like an eighteen hour solid shift.
• 21:44
  Speaker 3: Oh my gosh, I would simply pass away. Yeah, and
• 21:45
  Speaker 3: that's wh I'm feeling a bit burnt out.
• 21:47
  Speaker 2: Yeah, I get that the money's so good that it's
• 21:50
  Speaker 2: really hard to like say no when they say not
• 21:53
  Speaker 2: to you. Yeah, So I can only kind of night shifts.
• 21:57
  Speaker 2: I can only really mentally do two a week, and
• 22:00
  Speaker 2: then you know, you don't really sleep very well, and
• 22:02
  Speaker 2: then the day after you're absolutely wrecked, and so you're
• 22:05
  Speaker 2: kind of losing three four days just for two shifts.
• 22:09
  Speaker 2: So I thought doing this working from home, so it's
• 22:12
  Speaker 2: more like a telehealth kind of thing, which I did previously.
• 22:15
  Speaker 2: So when I was down in Victoria during COVID, I
• 22:18
  Speaker 2: had a telehealth contract where I could work from home.
• 22:21
  Speaker 2: And you know, like when I know other people around
• 22:23
  Speaker 2: the country didn't do this, but in Victoria, if you
• 22:25
  Speaker 2: test a positive for COVID, you went onto a register
• 22:28
  Speaker 2: and then a nurse would call you and go through
• 22:30
  Speaker 2: your symptoms and triase you to say, look, you're safe
• 22:33
  Speaker 2: to stay at home, or you need to call an
• 22:35
  Speaker 2: ambulance or you know, or go to your GP. This
• 22:38
  Speaker 2: is kind of similar, but it's more like a health
• 22:42
  Speaker 2: hotline where the public have symptoms and they call in
• 22:45
  Speaker 2: and then we can triage them. And it's to kind
• 22:47
  Speaker 2: of decrease the foot traffic through emergency departments. And we
• 22:52
  Speaker 2: still see it. People rock up with a cut on
• 22:55
  Speaker 2: their finger or still shoulder.
• 22:57
  Speaker 3: But then why why like to and this is I
• 23:01
  Speaker 3: guess why there's this whole side conversation about the urgent
• 23:03
  Speaker 3: care facilities that are being implemented. I think is maybe
• 23:07
  Speaker 3: Victoria specific, but across Australia maybe we're getting urgent care
• 23:11
  Speaker 3: facilities to take the load off the emergency departments. And
• 23:15
  Speaker 3: they often recommend you can go here and you know what,
• 23:17
  Speaker 3: if stuff's really bad, we'll take you to the hospital,
• 23:20
  Speaker 3: which I think is so so smart. Yeah, one hundred percent,
• 23:23
  Speaker 3: it's wild. And then you've got the little old ladies
• 23:26
  Speaker 3: who are like, no, it's fine, I feel fine, but
• 23:29
  Speaker 3: I'm basically having all the symptoms of a stroke. Don't
• 23:31
  Speaker 3: worry about me, ducky, And you're like, no.
• 23:35
  Speaker 2: Yep, And you know that's so true. Like when I
• 23:38
  Speaker 2: was doing the COVID hotline, I meant speak to a
• 23:41
  Speaker 2: man and I wrung him and I said, oh, you know,
• 23:44
  Speaker 2: I was doing his health check and he says, oh yeah,
• 23:46
  Speaker 2: I'm at my parents' house and they both have COVID
• 23:49
  Speaker 2: and I'm peering through the window and I can see
• 23:52
  Speaker 2: them both like lying on the floor. Oh no. We said, oh, well,
• 23:57
  Speaker 2: what's what you know, what's their health background? Like, can
• 23:59
  Speaker 2: you tell me the history and he said, oh, they're
• 24:01
  Speaker 2: both diabetic. And I said, well, you need to get
• 24:05
  Speaker 2: off the phone. You need to call an ambulance. I'm
• 24:07
  Speaker 2: going to call back in half an hour and then
• 24:08
  Speaker 2: we can go. But you know, like sometimes people are
• 24:11
  Speaker 2: so nervous to call triple zero to ask for help,
• 24:15
  Speaker 2: and you get into situations like this where, yeah, you
• 24:18
  Speaker 2: do get people that will just sit at home and
• 24:21
  Speaker 2: deteriorate and it would be like the last second before
• 24:24
  Speaker 2: they call an ambulance. And then you have the other
• 24:26
  Speaker 2: side where people just I don't know if they just
• 24:29
  Speaker 2: want some human interaction or it.
• 24:31
  Speaker 3: Hurts when I press my finger everywhere. That's crazy. That's
• 24:34
  Speaker 3: because your finger has a cut on it.
• 24:36
  Speaker 2: Yeah, we see it all the time.
• 24:38
  Speaker 3: So I don't like that for you, that would be very,
• 24:42
  Speaker 3: very frustrating. Let's give it a little bit. I want
• 24:44
  Speaker 3: to talk about your money goals. So obviously you guys
• 24:47
  Speaker 3: are starting from zero again as of fourteen months ago.
• 24:51
  Speaker 3: But sorry, if saved one hundred grant so that's pretty impressive. Yeah,
• 24:55
  Speaker 3: I don't actually know how we did that, but okay,
• 24:58
  Speaker 3: you did though, Yeah you did though that it's very
• 25:00
  Speaker 3: very impressive. So talk me through like, what are your
• 25:02
  Speaker 3: big money goals, because clearly you're working towards them.
• 25:05
  Speaker 2: So we currently live in Defence Housing and we want
• 25:08
  Speaker 2: to move back to Queensland to be closer to our family.
• 25:11
  Speaker 2: My husband is still contracted to Defense for another two
• 25:14
  Speaker 2: and a bit years, so like, I just want that
• 25:17
  Speaker 2: forever home. I've always had investment properties, and I've always
• 25:20
  Speaker 2: lived in Defence Housing where I can't paint the walls,
• 25:24
  Speaker 2: like and I can't change the carpet and I can't
• 25:27
  Speaker 2: rent over kitchen, and I just want something that's my
• 25:31
  Speaker 2: own and I don't care how crappy and run down
• 25:34
  Speaker 2: it is. I just want a house with some land.
• 25:38
  Speaker 2: I want chickens, you know.
• 25:39
  Speaker 3: I just want the chickens.
• 25:41
  Speaker 2: Yeah, we need the chickens I want. I just I
• 25:44
  Speaker 2: want space for my girls to run around. So really
• 25:47
  Speaker 2: that is our big money goal. Is the house. I
• 25:51
  Speaker 2: really want the house.
• 25:52
  Speaker 3: I love that, but like, sorry, you're working towards that
• 25:55
  Speaker 3: very nicely. To have saved one hundred thousand dollars in
• 25:57
  Speaker 3: fourteen months is actually unheard of. So I don't I
• 26:00
  Speaker 3: don't know how to tell you this, but I don't
• 26:01
  Speaker 3: think the house is going to be crappy, like I
• 26:03
  Speaker 3: know that that's where your bare minimum is starting, but like,
• 26:05
  Speaker 3: I think we are going to be okay.
• 26:07
  Speaker 2: Look, I just obviously like housing prices have just swored
• 26:11
  Speaker 2: in Queensland since COVID, and so like what we thought
• 26:16
  Speaker 2: we could aim for seems like it's just in our reach.
• 26:20
  Speaker 2: I actually spoke with a broker last week. I had
• 26:23
  Speaker 2: to pull my head out of the sand because I'm
• 26:25
  Speaker 2: really scared about entering the property market again because I've
• 26:31
  Speaker 2: been burnt and I have a really big scar and
• 26:33
  Speaker 2: I'm not fully over it. I wanted to ask you
• 26:36
  Speaker 2: about that because I was like, why are you going
• 26:38
  Speaker 2: back into property after property is the thing that burnt you?
• 26:40
  Speaker 3: But obviously I get it.
• 26:43
  Speaker 2: Just want the old Queenslander with a white picket fence.
• 26:46
  Speaker 2: I know it sounds really silly, but like, I have
• 26:49
  Speaker 2: everything else. I have the most amazing husband who's my
• 26:51
  Speaker 2: best friend. We've been together for over twenty years. I
• 26:53
  Speaker 2: have my two beautiful girls. I have amazic dog. We
• 26:56
  Speaker 2: have great careers. You know, we have our health. I
• 27:00
  Speaker 2: just don't have the house. And it's the last piece
• 27:02
  Speaker 2: of the puzzle. I want the house.
• 27:04
  Speaker 3: I get it, I get it. I get it, And
• 27:06
  Speaker 3: that's where I'm so glad you've engaged with the broker
• 27:09
  Speaker 3: to start the conversations early, because you can dot all
• 27:11
  Speaker 3: the i's and cross all the t's and make sure
• 27:13
  Speaker 3: that everything is where it needs to be before you
• 27:16
  Speaker 3: even find a house, before you even go down that route.
• 27:19
  Speaker 3: And like, I feel like when you've been burnt before
• 27:22
  Speaker 3: you know what you're looking for as well, the red
• 27:23
  Speaker 3: flags are literally crimson and in the front of your
• 27:26
  Speaker 3: face and you just take absolutely no crap.
• 27:28
  Speaker 2: Well, I have to say, this is what I truly regret,
• 27:31
  Speaker 2: and if when people listen to this, I hope that
• 27:33
  Speaker 2: this is maybe the one thing they take out of it.
• 27:35
  Speaker 2: Is when I was purchasing that second property, the real
• 27:39
  Speaker 2: estate guy called me, pushing me to sign the papers
• 27:43
  Speaker 2: for settlement, and I had the biggest feeling in my
• 27:46
  Speaker 2: gut that it was wrong. I remember exactly where I
• 27:49
  Speaker 2: was standing, I remember where I took the phone call.
• 27:52
  Speaker 2: And sorry, I get a bit emotional because I'm so
• 27:54
  Speaker 2: angry at myself for not listening to my gut. And
• 27:58
  Speaker 2: it's the biggest lifeline and I've learned and the most
• 28:01
  Speaker 2: important one, I think is just to like, don't go
• 28:04
  Speaker 2: with your head, listen to your gut. It is so
• 28:07
  Speaker 2: important that gut instinct is built into all of us.
• 28:10
  Speaker 3: And just something feels off, trust yourself that it feels off.
• 28:15
  Speaker 2: Yeah, one hundred percent. So recently I was dealing with
• 28:19
  Speaker 2: two brokers and one guy gave me just the ick
• 28:23
  Speaker 2: and I just said to my husband, I'm not dealing
• 28:25
  Speaker 2: with him. I flicked him off, engaged with another guy
• 28:28
  Speaker 2: who was absolutely amazing and was so supportive and listened
• 28:31
  Speaker 2: to my story and was like, no, I'm here for you.
• 28:33
  Speaker 2: I'm going to work with you. And he wrung me
• 28:35
  Speaker 2: yesterday to say we've got pre approval to move ahead.
• 28:38
  Speaker 3: Ah, that's so exciting. So I love that for you.
• 28:43
  Speaker 3: And I just know that, Oh it's sunshine and roses
• 28:46
  Speaker 3: from here on in. Like it's going to be hard,
• 28:49
  Speaker 3: it's going to be hard, but it's coming.
• 28:50
  Speaker 2: It's coming. You know. There was so many years that
• 28:52
  Speaker 2: I was in a dark cave, and now I can
• 28:54
  Speaker 2: see I'm out, I'm moving forward. Oh. I love that.
• 28:58
  Speaker 3: Let's go to a really quick break because on the
• 29:00
  Speaker 3: flip side, I have a lot more questions. I want
• 29:02
  Speaker 3: to talk about investments, I want to talk about potential
• 29:04
  Speaker 3: debt and also best in worse money habits, because like,
• 29:07
  Speaker 3: I'm not gonna lie. We're halfway through this episode and
• 29:09
  Speaker 3: I already don't believe that you're just to see so
• 29:11
  Speaker 3: guys don't go anywhere. All right, money DiResta, We are back,
• 29:18
  Speaker 3: and I am very excited to talk about this. I
• 29:21
  Speaker 3: want to dive back into the investment side of things
• 29:23
  Speaker 3: because you and your husband you bought your first investment
• 29:26
  Speaker 3: property when your daughter was born. You told us, you
• 29:29
  Speaker 3: know a lot at the start about your money story,
• 29:31
  Speaker 3: how you got your Rich Dad Poor Dad book, like
• 29:33
  Speaker 3: your parents kind of drove that. Has property been the
• 29:36
  Speaker 3: only investment that you've really cared about or invested in?
• 29:39
  Speaker 3: Like what does that side of your life look like?
• 29:42
  Speaker 2: To be honest, I never really understood shares or you know,
• 29:47
  Speaker 2: like in what an investment portfolio was kind of until
• 29:51
  Speaker 2: I stumbled upon your podcast a few years ago.
• 29:54
  Speaker 3: I'm glad we.
• 29:55
  Speaker 2: Met YEP during COVID.
• 29:56
  Speaker 3: During COVID we've been friends for ages.
• 29:59
  Speaker 2: Y have fun in Melbourne. So like, obviously my dad
• 30:03
  Speaker 2: had given me the Rich Dad, Poor Dad, and I
• 30:05
  Speaker 2: read it and I understood that was all property driven,
• 30:08
  Speaker 2: like by a property and news echuding blah blah blah.
• 30:11
  Speaker 2: And then he gave me the Barefoot Investor Book and
• 30:14
  Speaker 2: I read that and I did all the things. I
• 30:15
  Speaker 2: opened up fifty nine G accounts but had no clue
• 30:18
  Speaker 2: what to do with them. And they still sit there,
• 30:20
  Speaker 2: and I again, I don't know what to do with them.
• 30:23
  Speaker 2: They're just there.
• 30:23
  Speaker 3: And it doesn't work for everybody. I'm not gonna lie now.
• 30:26
  Speaker 3: I know that you earn what you earn, and I'm
• 30:28
  Speaker 3: assuming your husband probably earned slightly more than you because
• 30:31
  Speaker 3: I didn't ask. That method actually probably doesn't work for
• 30:35
  Speaker 3: your lifestyle.
• 30:36
  Speaker 2: I don't know what to do with it. And this
• 30:37
  Speaker 2: is why I say I'm a seved because my husband's
• 30:39
  Speaker 2: had a good income from the very beginning. I've never
• 30:42
  Speaker 2: really budgeted.
• 30:43
  Speaker 3: Can I be pervy? What kind of income are we talking?
• 30:46
  Speaker 3: He's currently on one point thirty Yeah, good, great. I
• 30:50
  Speaker 3: kind of just maybe once a year, this is really bad.
• 30:53
  Speaker 2: I probably should do this more often. Once a year,
• 30:55
  Speaker 2: I kind of like go through my bank account and
• 30:57
  Speaker 2: look at all our outgoings and just make like an estimate.
• 31:01
  Speaker 2: And I just kind of chuck, like, oh, five hundred
• 31:03
  Speaker 2: bucks a fortnight in the Bill's account, and hope for
• 31:06
  Speaker 2: the best. It's kind of worked, which kind of makes
• 31:08
  Speaker 2: sense if you've never been taught, Like, and that's really hard,
• 31:12
  Speaker 2: and like, please don't get me wrong, like Scott Papers
• 31:14
  Speaker 2: done so many good things for this industry, and like
• 31:17
  Speaker 2: I swear like I still see people down at the
• 31:20
  Speaker 2: supermarket or like at the shops with their like spend splurge.
• 31:24
  Speaker 3: Like written on the cards.
• 31:25
  Speaker 2: Yeah, I still see that.
• 31:26
  Speaker 3: It's so cute. Like it is so cute and if
• 31:29
  Speaker 3: it works for you, like I love that. But there
• 31:31
  Speaker 3: is something about percentage based budgeting that just doesn't align
• 31:36
  Speaker 3: with my values. Because you know, if I'm putting like
• 31:38
  Speaker 3: ten percent into my splurge account, well I'm not gonna lie,
• 31:42
  Speaker 3: Like I just don't spend that like and I'm not.
• 31:46
  Speaker 3: I come across as I look sometimes like I'm expensive
• 31:49
  Speaker 3: to maintain, but I'm really not when it comes down
• 31:52
  Speaker 3: to it. So I never know what I meant to
• 31:54
  Speaker 3: be doing with that, and it just isn't going to
• 31:57
  Speaker 3: work for me. And then also the percentages, especially in
• 32:00
  Speaker 3: twenty twenty five, actually don't work for us. We are
• 32:04
  Speaker 3: on average spending fifty percent of our income on our accommodation.
• 32:08
  Speaker 3: So like the fact that that doesn't account for any flexibility.
• 32:11
  Speaker 3: You go, well, how do I on my income using
• 32:14
  Speaker 3: this bucket method? Make it work? And it does work
• 32:16
  Speaker 3: for some people, but it doesn't work for others, and
• 32:19
  Speaker 3: that's why I kind of like don't like percentage based budgeting.
• 32:24
  Speaker 3: I am going to actually set you up, so you
• 32:25
  Speaker 3: and I we're going to do my budget and cash
• 32:27
  Speaker 3: Flow masterclass or my now new money masterclass together. I'm
• 32:30
  Speaker 3: going to send you a log in after this, but
• 32:32
  Speaker 3: I have done all of the spreadsheets and you don't
• 32:35
  Speaker 3: have to do any of the work. All I need
• 32:36
  Speaker 3: you to do is put in your incomes and put
• 32:38
  Speaker 3: in your expenses and it will spit out This is
• 32:40
  Speaker 3: how much you spend on a week, or you can
• 32:42
  Speaker 3: like categorize it however you want. It might be week, month, year, whatever.
• 32:46
  Speaker 3: This is how much the kids cost. This is how
• 32:48
  Speaker 3: much your house is. This is how much you have
• 32:49
  Speaker 3: left over for savings, and it will tell you which
• 32:52
  Speaker 3: bank accounts it needs to go into on a weekly
• 32:54
  Speaker 3: or monthly basis, depending on what you want. So I'm
• 32:57
  Speaker 3: going to set you up with that because if you're saying, oh,
• 32:58
  Speaker 3: I sometimes do this, yeah, this girl's going to take
• 33:01
  Speaker 3: it to another level, also low key. I made it
• 33:04
  Speaker 3: so it's esthetically pleasing, it's going to be pretty, it's
• 33:06
  Speaker 3: peak well, I love but it's one of those things
• 33:09
  Speaker 3: where the dual budget won. It'll be your husband's income
• 33:12
  Speaker 3: and also your income, and it will show you how
• 33:15
  Speaker 3: that breaks up and what that looks like at a
• 33:18
  Speaker 3: top level without you having to do any of the
• 33:19
  Speaker 3: background calculations, without being like, okay, well now I know
• 33:22
  Speaker 3: of my expenses, because I feel like that has always
• 33:25
  Speaker 3: been the block with budgeting, right, So like I could
• 33:28
  Speaker 3: be like money, do I sit down, Let's do you budget?
• 33:30
  Speaker 3: And you're like, okay, well, I can go through my
• 33:32
  Speaker 3: bank statements. I can tell you what I earn, I
• 33:35
  Speaker 3: can tell you what I spend. But then it's the
• 33:37
  Speaker 3: function of actually facilitating making sure that you have enough
• 33:41
  Speaker 3: by a specific date for your car registration, to make
• 33:44
  Speaker 3: sure that you know, if we're working backwards on a
• 33:46
  Speaker 3: savings goal, and let's say I know you've got one
• 33:48
  Speaker 3: hundred grand saved, maybe you want one hundred and twenty.
• 33:50
  Speaker 3: I know, and I can give you a date that
• 33:52
  Speaker 3: you will have that you don't have to do the maths.
• 33:55
  Speaker 3: So I think that that I mean, I'm biased. I
• 33:57
  Speaker 3: made my own system, but it was based on the
• 33:59
  Speaker 3: fact that none of the other systems were working for me.
• 34:02
  Speaker 3: And I was a financial advisor and I wanted something
• 34:04
  Speaker 3: for my clients that made sense. But I took the
• 34:06
  Speaker 3: stress off them by doing the hard yards, Like that's
• 34:09
  Speaker 3: what worked.
• 34:10
  Speaker 2: I think I've just had and I my head in
• 34:11
  Speaker 2: the sand, and I just kind of avoid it because
• 34:13
  Speaker 2: it's I'm not a numbers person, like I'm a practical,
• 34:18
  Speaker 2: hands on, task orientate a person when it comes to numbers.
• 34:22
  Speaker 2: Like this morning, I was at my daughter's school or
• 34:25
  Speaker 2: like you know that was showings around the classroom.
• 34:27
  Speaker 3: And oh yeah, yeah.
• 34:28
  Speaker 2: She was like, Mum, we have to do this timestable quiz.
• 34:31
  Speaker 2: And I just looked at my husband and I was like,
• 34:33
  Speaker 2: I'm out, Like, don't even ask me what five times
• 34:35
  Speaker 2: five is. I can't do it, Like numbers is not
• 34:38
  Speaker 2: like don't work for me and percentages and I just
• 34:40
  Speaker 2: don't understand it. So I kind of just ignore it
• 34:43
  Speaker 2: and hope.
• 34:44
  Speaker 3: And that's why I do all the hard work in
• 34:45
  Speaker 3: this It's all calculated in the background. You also can't
• 34:48
  Speaker 3: break it because I locked it so you can try,
• 34:51
  Speaker 3: but I have locked it down pretty securely. You can't
• 34:53
  Speaker 3: move anything around, so the calculations are always going to
• 34:57
  Speaker 3: be correct. Because I'm the worst. I was like backspace
• 35:00
  Speaker 3: something and forget I backspaced it, or delete something by
• 35:03
  Speaker 3: so you can't do it. I just won't let it happen. Well, anyway,
• 35:06
  Speaker 3: I feel like I'm trying to sell you on. Of
• 35:08
  Speaker 3: course I've already given you so like we'll move on
• 35:10
  Speaker 3: from this. But I'm excited because I think it'll work.
• 35:12
  Speaker 3: I think it'll work really well. Money diarist talk to
• 35:16
  Speaker 3: me about superannuation as a casual employee. What's your super
• 35:21
  Speaker 3: looking like? Is that a priority? Is it something you
• 35:23
  Speaker 3: haven't looked at yet? Is defense really good? When it
• 35:27
  Speaker 3: comes to super?
• 35:28
  Speaker 2: Super is something my dad has again drummed into me.
• 35:31
  Speaker 2: So I remember, like back, you know, I don't know
• 35:34
  Speaker 2: that two thousands, the government was like matching dollar for
• 35:37
  Speaker 2: dollar that you put into your super. And so even
• 35:40
  Speaker 2: though I was like only earning like three hundred dollars
• 35:44
  Speaker 2: a week, it came out or whatever. He always was like,
• 35:47
  Speaker 2: you put twenty dollars into your super. And it's kind
• 35:50
  Speaker 2: of carried on with me through life, and I always
• 35:54
  Speaker 2: have put like an extra five or seven percent in
• 35:57
  Speaker 2: so my super at the moment in it one hundred
• 36:00
  Speaker 2: and ninety.
• 36:02
  Speaker 3: Oh okay, queen, and you're thirty eight. You were running
• 36:05
  Speaker 3: rings around the competition. You're like, oh, I'm not doing
• 36:07
  Speaker 3: that well financially. Sorry, what's sit down. I know it's hard.
• 36:11
  Speaker 3: You don't feel like you're in control. I can tell
• 36:13
  Speaker 3: that you don't feel like you're in control, but like,
• 36:16
  Speaker 3: I think that you've got this handled a little bit
• 36:18
  Speaker 3: more than you think you do.
• 36:19
  Speaker 2: Yeah. I feel like because I've got a few little
• 36:21
  Speaker 2: investments here and there, but it's nothing big. So I've
• 36:26
  Speaker 2: got one hundred and ninety. My husband's of Lely Defense,
• 36:28
  Speaker 2: so his is quite good. He's got five hundred and seventy.
• 36:32
  Speaker 3: Okay, no worries. That's more than what most people retire with.
• 36:35
  Speaker 2: Yeah, So that's why we've kind of stayed in because
• 36:38
  Speaker 2: obviously the perks of just the super alone keeps us
• 36:42
  Speaker 2: ticking over.
• 36:43
  Speaker 3: Did you say before, I'm just doing some background thinking.
• 36:47
  Speaker 3: Did you say before that you were making voluntary contributions
• 36:49
  Speaker 3: to superannuation. Yeah, you can probably pull some of that
• 36:52
  Speaker 3: out if hypothetically you wanted to pull that out for
• 36:54
  Speaker 3: the first home Super Saver scheme to top up your
• 36:56
  Speaker 3: house deposit. Hypothetically, if that was interesting, can I to you,
• 37:00
  Speaker 3: Because but we're not first home buyers, I would have
• 37:03
  Speaker 3: a look at the rules and regulations around that because
• 37:07
  Speaker 3: they are a little bit more flexible. You have to
• 37:10
  Speaker 3: have not purchased a house within a certain period of time.
• 37:13
  Speaker 3: Talk to you broker, Talk to your broker and see
• 37:14
  Speaker 3: what that looks like. Because also if you've experienced financial distress,
• 37:19
  Speaker 3: sometimes they are a little bit flexy on that. And
• 37:21
  Speaker 3: I'm pretty sure we could write a pretty good user
• 37:23
  Speaker 3: case for you.
• 37:25
  Speaker 2: Well that's interesting.
• 37:26
  Speaker 3: I mean, if you get told no, I'm glad you asked.
• 37:29
  Speaker 3: If you get told yes, you owe me a fee.
• 37:33
  Speaker 2: Definitely I would owe you a fee.
• 37:35
  Speaker 3: No, but it would definitely be worth looking into and
• 37:37
  Speaker 3: just going, well, what does that look like? What's the
• 37:39
  Speaker 3: flexibility here? Is there any because sometimes it will just
• 37:43
  Speaker 3: be a hard no because you know, you might have
• 37:44
  Speaker 3: too much in terms of assets or income or whatever
• 37:47
  Speaker 3: that looks like.
• 37:48
  Speaker 2: But there's always a question, Yeah, okay, we'll do I'll
• 37:53
  Speaker 2: ask him this week.
• 37:54
  Speaker 3: But when it comes to super you guys are looking
• 37:56
  Speaker 3: pretty good, like having more than what that's like seven
• 37:59
  Speaker 3: hundred and something like great, fantastic, Like we are on
• 38:02
  Speaker 3: the route to being comfortable in retirement irrespective of the
• 38:07
  Speaker 3: investments that ultimately were lemons.
• 38:09
  Speaker 2: Yeah, and that's I guess that kind of was the
• 38:12
  Speaker 2: only kind of security I had in the back of
• 38:14
  Speaker 2: my head, was like the money is there, Like, you know,
• 38:17
  Speaker 2: if we're in a scenario and we have to be
• 38:19
  Speaker 2: in a defense rental for the rest of our lives,
• 38:21
  Speaker 2: at least we know that when we get to retirement
• 38:25
  Speaker 2: that we are going to be okay.
• 38:27
  Speaker 3: Yeah, So tell me about these little investments that you're like, oh,
• 38:30
  Speaker 3: they don't really count, but I know they count, So
• 38:32
  Speaker 3: tell me a little bit about those I have too.
• 38:36
  Speaker 2: So I was listening back in Melbourne. I was listening
• 38:39
  Speaker 2: to your podcast and you were speaking to Grant Hackett
• 38:42
  Speaker 2: about through Generation.
• 38:44
  Speaker 3: Life his investment bonds.
• 38:46
  Speaker 2: Yep. So I at that time I opened to children
• 38:50
  Speaker 2: investment bonds for my daughters. I was putting money into
• 38:54
  Speaker 2: it every year. Obviously, once we lost the house, I
• 38:58
  Speaker 2: kind of stopped. I wasn't focusing on it. So each
• 39:02
  Speaker 2: girl has five grand in their little investment bombs sitting there,
• 39:07
  Speaker 2: and I do intend to start putting back into it.
• 39:10
  Speaker 2: I just need to kind of figure out how that looks.
• 39:13
  Speaker 3: You can't pour from an empty cup though, and like
• 39:16
  Speaker 3: it's nice to have things for your kids. Please don't
• 39:17
  Speaker 3: get me wrong, that's incredible. They're way above and beyond
• 39:20
  Speaker 3: what other people would be at. But like you need
• 39:22
  Speaker 3: to set yourselves up financially, Like the best investment you
• 39:25
  Speaker 3: can make is in yourselves, and then if we've got
• 39:28
  Speaker 3: some extra fantastic, the kids can have their own investments,
• 39:30
  Speaker 3: but like you come first, one thousand percent.
• 39:33
  Speaker 2: Yeah, so I kind of put everything on hold once
• 39:36
  Speaker 2: that will happen because I really just wanted to focus
• 39:38
  Speaker 2: on building a deposit and every penny that I could
• 39:41
  Speaker 2: find going into that.
• 39:44
  Speaker 3: That's so good. You've really been around a while because
• 39:46
  Speaker 3: that episode is so old, but it was really great.
• 39:50
  Speaker 2: I really like just kind of pushed me into I
• 39:52
  Speaker 2: always wanted to do something for them. I had bank
• 39:54
  Speaker 2: accounts where like I was getting you know, my relatives
• 39:57
  Speaker 2: would just go, oh, look here's money for their birthday
• 39:59
  Speaker 2: and buy them they want, well, they have everything. So
• 40:01
  Speaker 2: I was just chucking it into like a savings account,
• 40:04
  Speaker 2: was doing nothing, and then that episode came on and
• 40:06
  Speaker 2: I was like, oh, this one is for me and
• 40:09
  Speaker 2: so yeah, I ran a lot of the life and
• 40:11
  Speaker 2: spoke to them and got it all set up and
• 40:12
  Speaker 2: it was really great.
• 40:12
  Speaker 3: And their gorged there.
• 40:13
  Speaker 2: You know.
• 40:14
  Speaker 3: Obviously not advice because that would be illegal for me
• 40:17
  Speaker 3: to give and I wouldn't do that. But I can
• 40:19
  Speaker 3: share my personal experiences and that is what I set
• 40:21
  Speaker 3: up for my own child, Harvey. So Harvey has a
• 40:24
  Speaker 3: childbuilder as well, and it just to us makes sense,
• 40:28
  Speaker 3: like from a tax perspective, from just a structure perspective,
• 40:31
  Speaker 3: like there are lots of different options. And listen, this
• 40:33
  Speaker 3: is just like a side note for everybody listening, please
• 40:36
  Speaker 3: listen to our Investing for Kids episodes because there are
• 40:39
  Speaker 3: lots of different options. This is just one that might work.
• 40:42
  Speaker 3: And apparently for money Durist and die it works. Well.
• 40:45
  Speaker 2: Yeah, so I have those. And then just before we
• 40:49
  Speaker 2: lost the property, I had put some money into EFT
• 40:53
  Speaker 2: so like just the global one hundred about two grand
• 40:56
  Speaker 2: or something, and then I forgot about it and then
• 40:58
  Speaker 2: remembered at the start of the year I had that
• 41:01
  Speaker 2: sitting there, and then I think maybe it was in
• 41:04
  Speaker 2: April this year when Old Donald brought in his tariffs
• 41:07
  Speaker 2: and dumped the stock market I just said to my husband.
• 41:11
  Speaker 3: I think that's a good opportunity.
• 41:13
  Speaker 2: It was I just put five grand in there.
• 41:15
  Speaker 3: Oh my god. I didn't have any free cash at
• 41:18
  Speaker 3: the time, and I was like, I would love to
• 41:20
  Speaker 3: have some free cash right now, but all of my
• 41:22
  Speaker 3: stuff is tied up, and I'm watching this opportunity go past.
• 41:26
  Speaker 3: So tell me what's that worth?
• 41:27
  Speaker 1: Now?
• 41:27
  Speaker 3: If you put five grand in nine somethink nine So envious,
• 41:33
  Speaker 3: that's very nice.
• 41:34
  Speaker 2: So I've made two and a half really on it currently.
• 41:38
  Speaker 3: So these aren't little investments. That's good, that's so good.
• 41:42
  Speaker 2: So they are the two kind of investments I have.
• 41:45
  Speaker 2: I did have a spaceship account back in the day,
• 41:48
  Speaker 2: but obviously, like I had to pull the money out
• 41:49
  Speaker 2: of that. But I just this week downloaded the Chaer's
• 41:53
  Speaker 2: Ease app to think, maybe I I'm in a position
• 41:57
  Speaker 2: where I'm like, do I just pull every single penny
• 42:00
  Speaker 2: to put into this deposit or do I put fifty
• 42:03
  Speaker 2: bucks a week into a Cheesy's account or into you
• 42:06
  Speaker 2: know to buy more FT's or you know, share. I
• 42:10
  Speaker 2: don't know.
• 42:10
  Speaker 3: I wish I could give you an answer to that,
• 42:12
  Speaker 3: but that would constitute financial advice. I think It's really
• 42:15
  Speaker 3: around your time frames, right, So when we talk to
• 42:17
  Speaker 3: people who are like, oh, I don't know how to
• 42:19
  Speaker 3: split it, it's really about, Okay, well, what would that
• 42:21
  Speaker 3: extra fifty bucks a week be doing towards your house deposit?
• 42:24
  Speaker 3: And then once you've got the house, will you have
• 42:25
  Speaker 3: the free cash flow to then invest a little bit more.
• 42:28
  Speaker 3: You've got to ask yourself a heap of questions around,
• 42:31
  Speaker 3: like does that suit your lifestyle? You know, are we
• 42:33
  Speaker 3: aggressively saving as much as possible towards the house or
• 42:36
  Speaker 3: maybe are we happy to put that off another few
• 42:38
  Speaker 3: months because we are also investing at the same time.
• 42:41
  Speaker 3: I think it's totally up to you.
• 42:42
  Speaker 2: I think, and again listening to my gut, and this
• 42:45
  Speaker 2: is probably why I haven't done it, and I haven't
• 42:47
  Speaker 2: been putting extra into the Girl's Childbuilders, and is just
• 42:51
  Speaker 2: because I know that really we should put you and
• 42:54
  Speaker 2: it's only for a short period of time, putting everything
• 42:57
  Speaker 2: we have into getting the right to it so that
• 43:00
  Speaker 2: we can get that house. And then you know, once
• 43:03
  Speaker 2: we rent it out and you know we're getting that
• 43:05
  Speaker 2: rental return, we'll definitely have the cash flow to then
• 43:08
  Speaker 2: to invest. So I know the answer. I think I
• 43:11
  Speaker 2: just doubt myself, and I think a lot of people do.
• 43:14
  Speaker 3: Oh, we all do. And that's why you need to
• 43:15
  Speaker 3: do the Money master class because that's going to show
• 43:18
  Speaker 3: you exactly what that looks like. And then you can
• 43:20
  Speaker 3: kind of like key in a few things and be like, oh, oh,
• 43:22
  Speaker 3: what if I because I also have investment buckets in
• 43:24
  Speaker 3: there as well, what if I put fifty bucks a
• 43:27
  Speaker 3: week into this? And it will show you what amount
• 43:30
  Speaker 3: that would equal and then you can decide. So instead
• 43:33
  Speaker 3: of just going should I shouldn't, I like, let's just
• 43:35
  Speaker 3: get the numbers on a paper. Do you want this
• 43:36
  Speaker 3: or that? And you'll be like, oh, okay, that or this?
• 43:39
  Speaker 3: And I think that that's really helpful to have something
• 43:41
  Speaker 3: right in front of you that goes, well, this is
• 43:43
  Speaker 3: the decision.
• 43:45
  Speaker 2: Do you like it? No?
• 43:46
  Speaker 3: Okay, I'm going to change it.
• 43:47
  Speaker 1: No.
• 43:47
  Speaker 2: That sounds really good because that's where my head's add
• 43:49
  Speaker 2: It's just like a big jumble of what ifs, and
• 43:53
  Speaker 2: you know, money flying around and I need it to
• 43:56
  Speaker 2: be structured. So I think that would be perfect totally.
• 44:00
  Speaker 3: So tell me, are there any other investments floating around? No,
• 44:03
  Speaker 3: that's more than I thought there would be I'm not
• 44:05
  Speaker 3: gonna lie.
• 44:06
  Speaker 2: No, it's just honestly, just the two the kids and
• 44:09
  Speaker 2: the eft's at the moment.
• 44:10
  Speaker 3: Yeah, so talk to me about debt. Do you have
• 44:13
  Speaker 3: any debt? If so, what does that look like?
• 44:16
  Speaker 2: Okay, So I went back and did another post grad
• 44:21
  Speaker 2: last year, specifically for intensive care. So I have like
• 44:25
  Speaker 2: twelve hundred dollars in a hex debt, which I'm big dog,
• 44:31
  Speaker 2: you know. So when I get my tax back, I
• 44:34
  Speaker 2: think I'll just dump it on it and just get
• 44:37
  Speaker 2: rid of it.
• 44:37
  Speaker 3: But you should have got a nice little twenty percent
• 44:39
  Speaker 3: discount on that too, cheers elbow because he has the
• 44:43
  Speaker 3: twenty percent hex.
• 44:44
  Speaker 2: So yeah, I don't know. Yeah, has that been applied yet?
• 44:47
  Speaker 2: It will have just been applied. I'll have to go
• 44:49
  Speaker 2: back in and check it. Yeah, maybe I won't pay
• 44:51
  Speaker 2: it until the twenty percent.
• 44:52
  Speaker 3: Oh no, no, no, do not pay it until you've
• 44:54
  Speaker 3: got that discount.
• 44:55
  Speaker 2: Okay, good to know. Yes, so I have that. We've
• 44:59
  Speaker 2: owned both our cars. We've never I don't believe in
• 45:02
  Speaker 2: taking out loans for anything besides property. So we've owned
• 45:06
  Speaker 2: both of our cars outright, saying that my car I
• 45:10
  Speaker 2: had a problem like the air bags. So there was
• 45:12
  Speaker 2: an air bag light and I couldn't fix it, and
• 45:14
  Speaker 2: the dealership was telling me it was going to cost
• 45:16
  Speaker 2: me thousands to replace these air bags, and I thought, oh,
• 45:18
  Speaker 2: I can't deal with it.
• 45:19
  Speaker 3: What a coincidence you also have a new car to
• 45:21
  Speaker 3: sell me. That's crazy that you would push me down
• 45:23
  Speaker 3: that one hundred percent.
• 45:24
  Speaker 2: So I took my car back to Queensland to my
• 45:27
  Speaker 2: husband's dad and I think, can you try and fix it?
• 45:30
  Speaker 2: And in the meantime, we were kind of stuck because
• 45:32
  Speaker 2: we only had one car, and so reluctantly we got
• 45:35
  Speaker 2: anvated lease cars through my husband's work, so fifty percent
• 45:40
  Speaker 2: of it is pre tax and fifty percent of its
• 45:42
  Speaker 2: post tax and we have that four three years, so
• 45:45
  Speaker 2: we've got it for another eighteen months. But then my
• 45:49
  Speaker 2: wonderful father in law fixed the car within a few days.
• 45:51
  Speaker 3: He did because he doesn't work for their car dealership.
• 45:54
  Speaker 2: Yep. So we potentially have two of our own cars
• 45:58
  Speaker 2: and anovated lease.
• 46:00
  Speaker 3: But that doesn't mean you can't dispose of one of
• 46:01
  Speaker 3: those cars and get some cash. And like, I think,
• 46:03
  Speaker 3: the other question I have around that novated least is
• 46:06
  Speaker 3: what's happening at the end Are you giving the car back?
• 46:08
  Speaker 3: Are you buying the car out? What would that look like?
• 46:09
  Speaker 2: I don't particularly want the car, and I don't think
• 46:13
  Speaker 2: the balloon payment at the end is worse. Yep, you
• 46:16
  Speaker 2: know the car, so probably yeah, we'd probably just send
• 46:21
  Speaker 2: them back and say bye.
• 46:23
  Speaker 3: Right.
• 46:23
  Speaker 2: Look, the only good thing about that car is it's
• 46:25
  Speaker 2: got heated seats and in camera it is freezing. So
• 46:29
  Speaker 2: that's the cherry on top for that car. And my
• 46:31
  Speaker 2: girls love the sunroof.
• 46:32
  Speaker 3: Yeah, that door, that makes it fancy. When I was little,
• 46:35
  Speaker 3: anybody who had a sunroof, Yes, they think that we
• 46:38
  Speaker 3: are balling, so but yeah you are. You are you
• 46:41
  Speaker 3: have a sunroof? Like you got good super like girl,
• 46:44
  Speaker 3: I think you are doing okay, like ask your kids.
• 46:47
  Speaker 2: Yeah. So besides that, we do have a credit card.
• 46:50
  Speaker 2: It's only got a six thousand dollar limit and we
• 46:53
  Speaker 2: hardly use it, so it's at zero. I just it's
• 46:55
  Speaker 2: there for an emergency, but we don't have any I
• 47:00
  Speaker 2: love this for you, but I don't believe in it,
• 47:02
  Speaker 2: Like I'm really like, I'm one of those people like
• 47:05
  Speaker 2: if someone buys me something, I'll like send them money
• 47:08
  Speaker 2: straight away.
• 47:09
  Speaker 3: Like I don't like owing anybody anything. I don't know
• 47:12
  Speaker 3: what it is, but it just I have an aversion
• 47:14
  Speaker 3: to it as well. It literally makes me feel sick.
• 47:16
  Speaker 2: It like it gives me the eck when people try
• 47:18
  Speaker 2: and pay for me for things, and I just know
• 47:21
  Speaker 2: I've got it. My dad always said to me, like,
• 47:23
  Speaker 2: you know, like it's lovely to be in a relationship
• 47:26
  Speaker 2: and but you always have to be financially independent for yourself.
• 47:30
  Speaker 3: Icon. Dad is an icon.
• 47:32
  Speaker 2: He is the best. He's really feminist all my money
• 47:36
  Speaker 2: habits and pushed me into property and pushed me into
• 47:39
  Speaker 2: super and pushed me into investing and get it. So yeah,
• 47:44
  Speaker 2: no debt, thankfully.
• 47:47
  Speaker 3: I adore this. So tell me, what do you think
• 47:48
  Speaker 3: your best money habit is.
• 47:50
  Speaker 2: I don't know. I'm not materialistic, so I don't really.
• 47:54
  Speaker 2: The older I get, the less I want, Like I
• 47:56
  Speaker 2: don't want stuff like in my twenties, like I wanted
• 48:00
  Speaker 2: the best makeup and a nice car and all this,
• 48:02
  Speaker 2: and now I just want to build wealth, So I
• 48:07
  Speaker 2: guess I don't know. I love doing a bit of
• 48:09
  Speaker 2: overtime and getting extra money to put in my savings.
• 48:12
  Speaker 2: That's what makes me happy.
• 48:14
  Speaker 3: Your work ethic, Like, let's talk about the fact that
• 48:17
  Speaker 3: you know what you and your husband have in super
• 48:19
  Speaker 3: so you're across all of that. All your numbers have
• 48:21
  Speaker 3: been real clean, like you're not like, oh, I think
• 48:23
  Speaker 3: I have about no no, no, Like she knows what's
• 48:25
  Speaker 3: going on. Like I know that you said you're not
• 48:28
  Speaker 3: on top of budgeting, which I think might be your worst.
• 48:30
  Speaker 3: I don't know what you're going to say, but we'll
• 48:31
  Speaker 3: get there. But like you're also investing, like girl, there
• 48:34
  Speaker 3: are a lot of good money habits that you've set up.
• 48:37
  Speaker 3: And talk to me slightly off topic, but what do
• 48:41
  Speaker 3: you teach your kids about money? Because I have a
• 48:42
  Speaker 3: sneaky suspicion you might be a cookie cutter version of
• 48:45
  Speaker 3: your dad.
• 48:46
  Speaker 2: Yeah. I well, my older daughter who kind of understands
• 48:49
  Speaker 2: because she's she's always saying when are we going to
• 48:52
  Speaker 2: buy her forever home? Like when do we get a
• 48:54
  Speaker 2: forever home? My room's going to look like the sentence,
• 48:56
  Speaker 2: you know, because she's used to moving all the time.
• 49:00
  Speaker 2: So they're good little savers. I've told them, you know,
• 49:04
  Speaker 2: like you know, like they've got their money boxes in
• 49:05
  Speaker 2: their room, and you know, they know that they've got
• 49:08
  Speaker 2: like a little bank account where I put money and
• 49:11
  Speaker 2: and I just, you know, try and say to them,
• 49:13
  Speaker 2: you know, you need to save for the bigger picture,
• 49:16
  Speaker 2: Like everyone wants an instant gratification. And I think it's
• 49:19
  Speaker 2: so easy because I'm My younger daughter was like, oh Mom,
• 49:23
  Speaker 2: I really want this. Can't you just get it on Amazon?
• 49:25
  Speaker 2: It will be here tomorrow.
• 49:26
  Speaker 3: I'm just like, it's a good point, babe. It's a
• 49:29
  Speaker 3: very good point. I could, but I'm not going to.
• 49:31
  Speaker 2: One hundred percent. And I always try and deal, like
• 49:34
  Speaker 2: give them cash so they you know, like they know
• 49:37
  Speaker 2: that you just it's not like a card that just
• 49:40
  Speaker 2: with inevitable money, you know, like never ending money. I
• 49:43
  Speaker 2: don't know, just being honest and present with them really.
• 49:46
  Speaker 3: And I love this. It's something that I've been thinking
• 49:50
  Speaker 3: about a lot now that I have a child. I'm
• 49:52
  Speaker 3: just like, how am I going to do this? Like
• 49:54
  Speaker 3: what does this look like? And in twenty twenty five
• 49:56
  Speaker 3: when money is all digital, Like how do you teach
• 50:00
  Speaker 3: them the value of money at the same time as
• 50:03
  Speaker 3: trying to also teach them to keep up Like, yes,
• 50:06
  Speaker 3: she's right, we do have Amazon, but that's instant versus
• 50:09
  Speaker 3: delayed gratification. And there's a bigger conversation around that and
• 50:13
  Speaker 3: like how much money do you have? And yeah, it's
• 50:15
  Speaker 3: it's an interesting and fickle conversation to have because like
• 50:19
  Speaker 3: there's no one size fits all approach.
• 50:21
  Speaker 2: I find it hard as well, because like obviously, like
• 50:23
  Speaker 2: I grew up in a family four you know, my
• 50:25
  Speaker 2: mom had like just a part time job, and my
• 50:29
  Speaker 2: dad worked full time and did overtime on a Saturday.
• 50:32
  Speaker 2: You know, we really didn't have much. You know, we
• 50:35
  Speaker 2: went out and played in the street. We didn't have computers,
• 50:37
  Speaker 2: we didn't like, we didn't have anything fancy. We didn't
• 50:40
  Speaker 2: go on trips to the snow, you know. So and
• 50:43
  Speaker 2: I kind of feel like I'm in a way making
• 50:45
  Speaker 2: up for that. So my girls say, oh, Mom, can
• 50:47
  Speaker 2: I have that? Like, of course you can. Like I
• 50:49
  Speaker 2: want to give them everything, and sometimes I think I'm
• 50:54
  Speaker 2: teaching them nothing. Like my daughter the other day went, Mom,
• 50:58
  Speaker 2: I'd really love a tamagotchi, and I was like, yeah,
• 51:00
  Speaker 2: let's go to Kma. That's me and pot her tamagotchi
• 51:04
  Speaker 2: for fifty dollars. And now she's obsessed and wants a
• 51:07
  Speaker 2: two hundred dollars tamagotchi. And I'm really reeling it back
• 51:11
  Speaker 2: and I'm like, no, let's count our pennies. We're gonna save.
• 51:14
  Speaker 2: She wants to now do jobs around the house to
• 51:16
  Speaker 2: kind of like earn a bit of extra cash.
• 51:19
  Speaker 3: And it's hard though, because like that's not so. I
• 51:22
  Speaker 3: was like, oh, I'm going to be fine, like I'm
• 51:24
  Speaker 3: always going to say no, like I'm pretty good at
• 51:26
  Speaker 3: this and my kid's only eighteen months old. But when
• 51:29
  Speaker 3: he looks at me and he goes one more, I go,
• 51:32
  Speaker 3: oh my god, yeah, you can't have fifty or you're like,
• 51:35
  Speaker 3: who was going to tell me that I would become
• 51:37
  Speaker 3: such a push.
• 51:38
  Speaker 2: I know because I was very much like you know,
• 51:41
  Speaker 2: I was brought up to just like suck it up,
• 51:43
  Speaker 2: drink some man, get with it. Life is tough, push
• 51:46
  Speaker 2: you way through, and it's worked for me, and like
• 51:50
  Speaker 2: I've been very successful in life besides that lemon. But
• 51:55
  Speaker 2: I know my kids come to me and I my
• 51:57
  Speaker 2: mom said no, no, no, no, no all my life.
• 51:59
  Speaker 2: So I feel like I'm rebelling and I just go yes, yes, yes, yes, yes,
• 52:03
  Speaker 2: yes yeah yep.
• 52:04
  Speaker 3: That's literally me.
• 52:05
  Speaker 2: So yeah, it is a tough one. But I'm learning
• 52:08
  Speaker 2: slowly to try and teach them that, like you just
• 52:11
  Speaker 2: can't want something and it just lands on your lap.
• 52:14
  Speaker 3: Would you say that's your worst money habit could be.
• 52:17
  Speaker 2: Yeah. The other day they swindled me at the corner shop.
• 52:21
  Speaker 2: I've taken my older one to the physio because she's
• 52:24
  Speaker 2: done her ankle at netball. And she said, oh, well,
• 52:27
  Speaker 2: if we're really good, can we go into the IgA
• 52:30
  Speaker 2: and get a lolly? And I said, yeah, of course
• 52:31
  Speaker 2: she can. And she swindled me into a twenty dollar
• 52:35
  Speaker 2: plushy toy. And I was like, how did it go
• 52:37
  Speaker 2: from you can have something for under two dollars.
• 52:40
  Speaker 3: And I spend twenty bucks? Yeah, this woman, she smart.
• 52:44
  Speaker 3: She is to hit her up, give her my details
• 52:46
  Speaker 3: because I'd like to know how to do that with
• 52:48
  Speaker 3: lots of people I don't know.
• 52:50
  Speaker 2: She's got the art of persuasion, and I just can't
• 52:52
  Speaker 2: say no to them.
• 52:52
  Speaker 3: I like, how we all and this seems to be
• 52:54
  Speaker 3: a common theme in my friend group, we all say
• 52:56
  Speaker 3: that we're swindled by our kids.
• 52:58
  Speaker 2: Yeah, one hundred percent.
• 52:59
  Speaker 3: I walked out and I was it's like I tapped
• 53:01
  Speaker 3: my card and I was like, twenty dollars. What was
• 53:03
  Speaker 3: twenty dollars? And then I looked at it she got
• 53:06
  Speaker 3: chacky little monkey, but she got it and she won
• 53:08
  Speaker 3: and it worked and she I love it. Money Diarist,
• 53:13
  Speaker 3: Now that we've talked, I think we need to reflect
• 53:15
  Speaker 3: a little bit on this sea because like you said,
• 53:17
  Speaker 3: look I'm a sea, and I was like, okay at
• 53:19
  Speaker 3: the start, like I can see how that might happen,
• 53:21
  Speaker 3: a little bit skeptical because you have saved one hundred grand.
• 53:23
  Speaker 3: I was, I can't be that bad at money, right,
• 53:25
  Speaker 3: and then like take yourself out of this story, right.
• 53:28
  Speaker 3: So gorgeous couple met. He was in the navy, she's
• 53:31
  Speaker 3: a nurse. They've got two beautiful kids. It fell apart.
• 53:34
  Speaker 3: The investment property didn't work out. It was a lemon.
• 53:36
  Speaker 3: But they've been rebuilding. They have like seven hundred grand
• 53:40
  Speaker 3: to their name in superanuation. Like they've saved one hundred
• 53:43
  Speaker 3: grand over the last fourteen months. They're not really sure
• 53:45
  Speaker 3: how they did it, but they have done it. They're
• 53:47
  Speaker 3: starting to look at their forever home, like they're able
• 53:50
  Speaker 3: to buy their kids twenty dollars off plushies when it
• 53:53
  Speaker 3: makes sense to do so, so, like they're giving their
• 53:56
  Speaker 3: kids the life that you know they want to give
• 53:58
  Speaker 3: their kids. The kids actually have childbuilders. They've got their
• 54:01
  Speaker 3: own investment bonds, and you contribute to them when you can,
• 54:04
  Speaker 3: as you should. This couple, she's dabbling in investments. She's
• 54:07
  Speaker 3: got like some ETFs. You know, she's got another five
• 54:10
  Speaker 3: grand that she decided to drop when Trump was jumping
• 54:13
  Speaker 3: up and down about the tariffs. Like the wife get this,
• 54:17
  Speaker 3: She went back and did this postgraduate intensive care unit
• 54:21
  Speaker 3: so that she could get paid more. And she's only
• 54:23
  Speaker 3: got twelve hundred bucks left on her hex. Like, how
• 54:26
  Speaker 3: good is that? She's probably gonna be able to pay
• 54:27
  Speaker 3: it off with her tax money if she wants to
• 54:29
  Speaker 3: downloaded chairs is doesn't know if she's going to invest
• 54:32
  Speaker 3: more or like buy her dream house sooner. But what
• 54:35
  Speaker 3: a conundrum to be in. How good love this money
• 54:38
  Speaker 3: decision that they're making. But then when I spoke to her,
• 54:41
  Speaker 3: she's like, oh, yeah, also, by the way, we own
• 54:43
  Speaker 3: our cars out right, we do have an ovated lease.
• 54:45
  Speaker 3: But it's making sense still able to save one hundred grand.
• 54:48
  Speaker 3: But then she goes, yeah, I think I'm only a
• 54:49
  Speaker 3: c at money. Does that make sense to you if
• 54:53
  Speaker 3: you put it like that?
• 54:55
  Speaker 2: Maybe not?
• 54:56
  Speaker 3: Yes, not making sense to me either. And I know,
• 54:58
  Speaker 3: you know what I'm gonna blame this. You said you
• 55:00
  Speaker 3: weren't a maths person. I get it, you just miscalculated.
• 55:03
  Speaker 3: You're like a yes, you could get up and at
• 55:06
  Speaker 3: it with budgeting a little bit more Like you said
• 55:08
  Speaker 3: that you weren't as on top of that, and I
• 55:09
  Speaker 3: feel like that's probably what's leading you to feel a
• 55:11
  Speaker 3: little bit out of control. But like, sorry, when I
• 55:14
  Speaker 3: asked about debt, you have a credit card you don't
• 55:16
  Speaker 3: even use. It's just there for emergencies. But you've also
• 55:18
  Speaker 3: got a heap of cash, so you probably don't even
• 55:20
  Speaker 3: need it. Like there's just a lot going on here
• 55:23
  Speaker 3: that makes sense. And like, yes, you had an investment
• 55:26
  Speaker 3: property that was a lemon, but you're also only thirty eight. Yeah,
• 55:30
  Speaker 3: like we're doing well.
• 55:32
  Speaker 2: Thank you. Yeah. I guess, look, I guess if you
• 55:35
  Speaker 2: put it all together, maybe it presents a bit better
• 55:39
  Speaker 2: than it does in my head. I think a lot
• 55:42
  Speaker 2: of the investment stuff, I do it, but I don't
• 55:45
  Speaker 2: fully understand it. And I think maybe that's okay.
• 55:48
  Speaker 3: You're on the journey.
• 55:49
  Speaker 2: That's why I feel like maybe I rate myself as
• 55:52
  Speaker 2: a C because I feel like I just kind of
• 55:54
  Speaker 2: jump on things and kind of start it and then hope.
• 55:57
  Speaker 3: For the best. Strategy has been working so far. I mean, yes,
• 56:01
  Speaker 3: the property got screwed over, but it wasn't because you
• 56:03
  Speaker 3: didn't do due diligence. It was because other people screwed you.
• 56:07
  Speaker 3: Like when you start to dig into it, you're like
• 56:09
  Speaker 3: I did my building and past inspection, and the first
• 56:11
  Speaker 3: thing I thought was like, oh my god, like he
• 56:13
  Speaker 3: deserves to be sued, but he was in cohots. They
• 56:16
  Speaker 3: all were like that was structured to take advantage of you.
• 56:20
  Speaker 3: It was never structured for you to be successful. And
• 56:23
  Speaker 3: I'm really sorry you were never going to be successful
• 56:25
  Speaker 3: with that, no matter how hard you tried. And I
• 56:27
  Speaker 3: think the best thing we learned was you just need
• 56:29
  Speaker 3: to listen to your gut a little bit more expensive lesson.
• 56:33
  Speaker 3: I wish you didn't have to learn it that way,
• 56:35
  Speaker 3: but I mean, we we've come this farst so let's
• 56:37
  Speaker 3: just commit to it. Yes, Money Diarist, this has been
• 56:40
  Speaker 3: an absolute pleasure. I have loved this Money Diary. From
• 56:44
  Speaker 3: talking about you being a midwife, to losing your house
• 56:46
  Speaker 3: to talking about ETFs and investment bonds. There's just been
• 56:49
  Speaker 3: a lot going on in this conversation. And I know
• 56:51
  Speaker 3: the community is going to have loved this episode as
• 56:54
  Speaker 3: much as I have, so thank you so much for
• 56:56
  Speaker 3: spending so much time with me. It has been a pleasure.
• 56:59
  Speaker 2: Thanks for having me. And yeah, it's been really enjoyable
• 57:01
  Speaker 2: and it's actually got me excited about my financial future.
• 57:05
  Speaker 3: Now.
• 57:05
  Speaker 2: I feel like good things are coming my way.
• 57:08
  Speaker 3: They are thousand percent are Oh my gosh, I have
• 57:11
  Speaker 3: loved this.
• 57:12
  Speaker 2: Thank you.
• 57:18
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• 57:21
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• 57:25
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• 57:28
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• 57:32
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