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She Cried Over a Holiday She Couldn’t Afford… Now She’s on Track to Retire by 40 · She's On The Money

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  Speaker 1: My name's Anatasha Bamblet. I'm a proud First Nations woman
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  Speaker 1: and I'm here to acknowledge country t Glenn Young Ganya
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  Speaker 1: nianar Kaka yah y and beIN Ahaka nian our gay
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  Speaker 1: In Mbina, yakarum jar, Dominyama, Domaga Ithawakaman, damon Imlan Bomber
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  Speaker 1: bang Gadabomba in and now in wakah Ghana on yak
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  Speaker 1: rum jar Watnadaa. Hello, beautiful friends, we gather on the
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  Speaker 1: lands of the Aboriginal people. We thank acknowledge and respect
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  Speaker 1: the Abiginal people's land that we're gathering on today. Take
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  Speaker 1: pleasure in all the land and respect all that you see.
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  Speaker 1: She's on the Money podcast acknowledges culture, country, community and connections,
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  Speaker 1: bringing you 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.
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  Speaker 4: Hello, and welcome to She's on the Money, the podcast
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  Speaker 4: that lets you be pervy about other people's money habits
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  Speaker 4: for educational purposes, of course. Welcome back to another one
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  Speaker 4: of our money Darius where we get to talk with
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  Speaker 4: one of our incredible She's on the Money community members
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  Speaker 4: all about their journey. Let's jump straight into it because
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  Speaker 4: this week I got an email and it sounded exactly
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  Speaker 4: like this, Dear She's on the Money, You guys completely
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  Speaker 4: changed my life three exclamation points. Four years ago, I
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  Speaker 4: was in the worst financial position I had ever been in.
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  Speaker 4: My partner was super financially savvy, and I just felt
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  Speaker 4: like a failure. I took it upon myself to change
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  Speaker 4: my money story and get my shit together, which is
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  Speaker 4: how I came across the She's on the Money podcast
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  Speaker 4: and book. It was pretty overwhelming and confronting reading the
• 1:53
  Speaker 4: book and felt scary starting from scratch. However, four years later,
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  Speaker 4: I am a completely different queen. I have eighteen thousand
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  Speaker 4: dollars in long term savings, thirty four thousand dollars invested
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  Speaker 4: in stocks, and it also started a side hustle to
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  Speaker 4: earn some extra cash. Money diarist welcome to the show,
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  Speaker 4: and I would say like, welcome to the community. But girl,
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  Speaker 4: you've been here for four years.
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  Speaker 2: Yes I have. And that I was like, oh, that
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  Speaker 2: was my email.
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  Speaker 4: You did a good job, queen.
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  Speaker 2: Yes, well it has changed since that email, like I
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  Speaker 2: think it's grown more as well. Like listening to that,
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  Speaker 2: I was like, oh cool, it's come a long.
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  Speaker 4: Way, she sounds like a cool chick. But also we've
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  Speaker 4: done even more than that. Let's dive into it before
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  Speaker 4: we get there. I have to ask if I asked
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  Speaker 4: you to give yourself a money grade from A through
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  Speaker 4: to air, what grade do you think you would give
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  Speaker 4: yourself today?
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  Speaker 2: I'd say probably a B plus because you know you
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  Speaker 2: can always get better. Yeah, you can.
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  Speaker 4: But I've got a lot to learn from you in
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  Speaker 4: this episode, so we'll see how that stacks up by
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  Speaker 4: the end of it. Can we go back? I want
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  Speaker 4: to know a little bit more about your money story.
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  Speaker 2: Yeah, yes, yes, long journey. I don't think I had
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  Speaker 2: great role models growing up, so lots of debt and
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  Speaker 2: gambling issues with my parents, and I guess I don't
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  Speaker 2: ever remember having a conversation about money. I don't ever
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  Speaker 2: remember having a conversation about savings. I don't remember having
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  Speaker 2: a conversation about what you should do when you get
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  Speaker 2: a job, or how to open a bank account, or yeah,
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  Speaker 2: any of the things that I guess I realized that
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  Speaker 2: I didn't know as I got older. So I think
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  Speaker 2: I from the start, I never really had a great foundation,
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  Speaker 2: And yeah, that's I guess how I ended up being
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  Speaker 2: like four years ago. Yeah, having a hard look at
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  Speaker 2: my accounts and being like, I think I probably need
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  Speaker 2: to change some things.
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  Speaker 4: Yeah, so fair, so talk to me. You said it
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  Speaker 4: in your email and you're like, oh, my partner was
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  Speaker 4: super financially savvy. And I just felt like it's failure
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  Speaker 4: and the like there's no definition of failure. Like I'm
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  Speaker 4: a very big believer in like, you haven't failed, you're
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  Speaker 4: just starting here. But what contributed to that feeling?
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  Speaker 2: I just think I was always stressed about money and
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  Speaker 2: like not like necessarily paycheck to paycheck, but like almost
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  Speaker 2: paycheck to paycheck, and like try and organize going on
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  Speaker 2: our first international holiday and doing all of the things,
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  Speaker 2: and like I was still at UNI, working like a
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  Speaker 2: part time job and he was obviously working like full
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  Speaker 2: time and you know, just very different positions, and I
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  Speaker 2: guess I just felt, yeah, I was like, oh, I
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  Speaker 2: don't think I can do all of the things that
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  Speaker 2: he can do, and I wanted to be like equal,
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  Speaker 2: you know, and contribute equally. So I guess that's why.
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  Speaker 4: Yeah, yeah, that makes absolute sense. But like it's so
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  Speaker 4: interesting asking that question of people, because to one person,
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  Speaker 4: failure is oh well, actually I went through Drive through
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  Speaker 4: this week three times, and then to other people, it's
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  Speaker 4: like this feeling of like I'm behind and I'm you know,
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  Speaker 4: not living paycheck to paycheck, but kind of nearly close
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  Speaker 4: to other people, they're like, for me, I was in
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  Speaker 4: forty thousand dollars worth of personal debt, and I was like,
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  Speaker 4: you need to have a good, cold, hard look at
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  Speaker 4: yourself Victoria divine. So it's just so interesting being like, well,
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  Speaker 4: what does that mean, how does that work? Like what
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  Speaker 4: does that feel like? Because it's just so different for everybody.
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  Speaker 4: What was that like kick up the bumb moment where
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  Speaker 4: you were like, I have to kind of get my
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  Speaker 4: stuff together because I feel like we have lots of things.
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  Speaker 4: Money is hard and like you know, if you're you know,
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  Speaker 4: planning overseas holidays, you're like, oh, yeah, I'll get it
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  Speaker 4: together when I get back, But like, why change?
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  Speaker 2: I think? I remember we were sitting in the car
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  Speaker 2: in my garage and I had we hadn't really spoken
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  Speaker 2: about finances at all, and I just said, I think
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  Speaker 2: like this holiday that we're you know, booking and is
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  Speaker 2: like killing me financially. And I really wanted to do it,
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  Speaker 2: but I obviously didn't probably think about it before saying yes,
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  Speaker 2: and I think I didn't want to feel like that
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  Speaker 2: ever again, Like I remember crying and feeling like, oh girl,
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  Speaker 2: like you're gotta get your shit together, because you know,
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  Speaker 2: I want to be able to do more than just
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  Speaker 2: scrape through, you know. So I remember that feeling and
• 6:22
  Speaker 2: that conversation, and we both still remember it and we
• 6:26
  Speaker 2: look back, like obviously that was probably nearly five years ago,
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  Speaker 2: and we look back and we're like, wow, it's so
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  Speaker 2: different now, and it's.
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  Speaker 4: Nice totally tell me a little bit more about like
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  Speaker 4: that change, because I think a lot of people get
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  Speaker 4: to that point and that's so relatable, like I need
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  Speaker 4: to get it together. Where did you turn first? Because
• 6:43
  Speaker 4: I get that point. You probably hadn't heard of She's
• 6:45
  Speaker 4: on the Money, and we probably come a little bit later.
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  Speaker 4: I feel like the gateway, like the gateway drug of
• 6:50
  Speaker 4: the finance communities Barefoot Investor. We all turned to him
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  Speaker 4: and thanks Scottie Pape ten out of ten. But like,
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  Speaker 4: what was your first experience of like trying to learn
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  Speaker 4: a little bit more about financial literacy.
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  Speaker 2: Yeah, that's so funny because my friend had read The
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  Speaker 2: Barefoot Investor, and I remember going over and we had
• 7:08
  Speaker 2: a few wines and they were telling us about how
• 7:11
  Speaker 2: good this book was, and they were like, you've got
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  Speaker 2: to open all these accounts, and you know, we had
• 7:15
  Speaker 2: had had a few wines. And then next thing I
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  Speaker 2: remember in the mail, I had the I G bankus
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  Speaker 2: coffy and I was like, I haven't even read the book.
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  Speaker 4: That's fine, Like, I'm very excited that you fell into
• 7:28
  Speaker 4: the culture.
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  Speaker 2: Oh I didn't even know. I did nothing with the accounts.
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  Speaker 2: I just closed them after because I hadn't read the book.
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  Speaker 2: So I was like, well, this is silly. No. I actually,
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  Speaker 2: from that conversation in the car, I remember writing like
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  Speaker 2: a long list of things in my life that I
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  Speaker 2: wanted to change, and a lot of those things, you know,
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  Speaker 2: stem from financial security. And you know, my partner had
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  Speaker 2: read a lot of books, and I was like, I
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  Speaker 2: just feel like I need to do it on my own,
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  Speaker 2: Like I need to find my path it's going to
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  Speaker 2: work for me.
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  Speaker 4: Because yeah, your path isn't going to work for me.
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  Speaker 2: Yeah, And I googled on Google at work female budgeting
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  Speaker 2: tools or like female budget finance books that's literally and
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  Speaker 2: you were.
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  Speaker 4: Hey, And then I came up thank you my SEO
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  Speaker 4: must be working.
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  Speaker 2: And I was like, oh, okay, cool. I had a look.
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  Speaker 2: I read the spiel and I was like yeah, okay,
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  Speaker 2: and I started reading and then I basically just did
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  Speaker 2: every single thing that you said to do in the book, yes,
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  Speaker 2: from start to finish. I think I hyper fixated for
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  Speaker 2: a bit.
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  Speaker 4: Good because like I structured that book in such a
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  Speaker 4: way that I was like, all right, so you've never
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  Speaker 4: picked up a book before, this can't be overwhelming. At
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  Speaker 4: the start. I have to make friends with the reader
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  Speaker 4: or right, I have to make friends with you, money dires, like,
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  Speaker 4: have to gain your trust, and then I have to
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  Speaker 4: be like okay, cool. And I think in the book
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  Speaker 4: I still and like I wrote it so long ago,
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  Speaker 4: but I like literally recommend that you need a glass
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  Speaker 4: of wine for the next bit. I'm like bab strapping
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  Speaker 4: because we're going to an audit that like I give
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  Speaker 4: you the worksheet to do it. I'm not like, oh,
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  Speaker 4: just go and have a look at this. I'm like, no, no, no,
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  Speaker 4: you're going to fill this in and I just I
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  Speaker 4: hope it and it sounds like I did. I took
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  Speaker 4: you on a journey of like discovering one thing and
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  Speaker 4: another thing and then like, okay, cool, that's the next step.
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  Speaker 2: And it was a definite snowball. The bank statement one
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  Speaker 2: I remember like printing it at work because free printing.
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  Speaker 2: I highlighted everything and I was like, oh my god,
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  Speaker 2: it's really confronting, isn't it. Oh wait, I cried so hard.
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  Speaker 4: I'm so sorry. I'm so sorry, but I promise I'm
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  Speaker 4: here for you. Like sometimes we have to cry because
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  Speaker 4: we're just feeling overwhelmed. But at the end of the day,
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  Speaker 4: it's not good or bad. It's just like, hey, did
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  Speaker 4: you realize this is where your money's going? And you're
• 9:44
  Speaker 4: probably like no, v I didn't have a clue.
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  Speaker 2: I did not. And after that, I was like, okay, so.
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  Speaker 4: Do you remember what the most confronting thing was like
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  Speaker 4: seeing on your bank statement?
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  Speaker 2: Not really, because I think it was probably just like
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  Speaker 2: the unnecessary spending, the shopping, like the things that I
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  Speaker 2: just really didn't need, and I was like, well, that's
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  Speaker 2: where my money is like sitting there and like clothes
• 10:09
  Speaker 2: and bedding. I have a bedding obsession.
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  Speaker 4: Oh you and Jessica Icci in our team love some
• 10:14
  Speaker 4: good bedding, Yeah, love some linen. And I was like
• 10:18
  Speaker 4: I don't know if I need that much bedding. Yeah,
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  Speaker 4: it's really confronting when you look through your house and go, wow,
• 10:24
  Speaker 4: this all used to be money.
• 10:26
  Speaker 2: Yeah. Yeah, yeah, there's my gas bill in the cli
• 10:30
  Speaker 2: in the cupboard.
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  Speaker 4: Yeah exactly, isn't it crazy? Well, I kind of love that.
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  Speaker 4: But you have ended up in the right place, which
• 10:35
  Speaker 4: is a really good thing. I want to know more
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  Speaker 4: about you personally though, to tell me what do you
• 10:39
  Speaker 4: do for work now and how much money do you earn?
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  Speaker 2: Yes, I currently have true jobs, because you know why not.
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  Speaker 2: In all my spare time, I work as a registered
• 10:50
  Speaker 2: nurse in a hospital. And I also have like a
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  Speaker 2: office job that I had prior to graduating that just hey, really,
• 11:00
  Speaker 2: well not one hundred percent sure what I do there?
• 11:04
  Speaker 4: We use bop along.
• 11:05
  Speaker 2: Yeah, it's a great office job that lets you do you.
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  Speaker 2: I love that because we can only work when you
• 11:11
  Speaker 2: first start as an urse, you can only work a
• 11:13
  Speaker 2: certain amount of hours. And I've obviously studied for like
• 11:17
  Speaker 2: three years, and I was like, well, I kind of
• 11:20
  Speaker 2: want to work full time. Like, I just budgeted my
• 11:23
  Speaker 2: ass off during this three years.
• 11:25
  Speaker 4: I did not do this bank account audit to only
• 11:28
  Speaker 4: have this income.
• 11:29
  Speaker 2: Yeah, and I was like, I kind of want to
• 11:31
  Speaker 2: be on a full time wage like as I and
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  Speaker 2: I get the reasoning, like the burnout and stuff like that,
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  Speaker 2: but I wasn't happy when I did my budget pre
• 11:40
  Speaker 2: starting with kind of what I thought it was going
• 11:43
  Speaker 2: to look like, and so I was going to quit
• 11:46
  Speaker 2: and then I decided not to and I work an
• 11:50
  Speaker 2: extra two days there.
• 11:51
  Speaker 4: Oh, very cool. So if we break it down how
• 11:55
  Speaker 4: many days and how much pay for each job, it's really.
• 11:58
  Speaker 2: Hard to like with the tax and the over time
• 12:02
  Speaker 2: with the nursing, it's so hard to work out. I
• 12:04
  Speaker 2: think I think it's about one hundred grand a year,
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  Speaker 2: give or take pre tax. It's probably a bit more
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  Speaker 2: with the overtime. I didn't I didn't account for that
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  Speaker 2: in my budget because it's so flexible and it really
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  Speaker 2: makes me uncomfortable, like not knowing her.
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  Speaker 4: And you don't want to bank on that either. Yeah,
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  Speaker 4: And I know that you read my book, so you
• 12:27
  Speaker 4: know that a lot of what I do is work
• 12:28
  Speaker 4: on your base income, work on what is contracted, like
• 12:31
  Speaker 4: what's in your in your contract. I think we should
• 12:34
  Speaker 4: be as a base and then anything above and beyond,
• 12:37
  Speaker 4: Like I won't say it's cream on top and you
• 12:38
  Speaker 4: can do what you want with it, because that's not
• 12:40
  Speaker 4: the point. But like anything on top, we will make
• 12:43
  Speaker 4: decisions with as it comes through, because I think a
• 12:45
  Speaker 4: lot of people, especially nurses, I've got a lot of
• 12:48
  Speaker 4: like locom teachers, people who are creatives, freelancers, Like you
• 12:52
  Speaker 4: just don't know what next month is going to look like,
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  Speaker 4: Like you might end up doing keeps of overtime and
• 12:56
  Speaker 4: you're like fine with it, or you might be burnt
• 12:58
  Speaker 4: out and you're like, no, I can't take on any
• 13:00
  Speaker 4: more days. So you just don't know. But budget with
• 13:03
  Speaker 4: our base.
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  Speaker 2: I did my budgets with my base. Yeah, budget from
• 13:08
  Speaker 2: the base from the registered nurse job and then from
• 13:11
  Speaker 2: the office job. It's obviously just the same.
• 13:13
  Speaker 4: Yeah okay, And what would you bring in on average
• 13:16
  Speaker 4: from the office job?
• 13:17
  Speaker 2: A fortnight it's after tax, like nine eighty. It's like
• 13:22
  Speaker 2: two days a week.
• 13:23
  Speaker 4: Yeah, very nice. So how many days are you doing
• 13:25
  Speaker 4: in the hospital, Like, if let's just pretend it's this week,
• 13:28
  Speaker 4: so four and then two and then you have one
• 13:30
  Speaker 4: day off. Yeah yeah, okay, cool, so you're still getting
• 13:33
  Speaker 4: a little bit of time. It's basically like you're a
• 13:34
  Speaker 4: real estate agent. They only get one day a week ish.
• 13:37
  Speaker 2: We'll sometimes split the shifts, so if I do like
• 13:39
  Speaker 2: an afternoon shift at the hospital, I will work in
• 13:43
  Speaker 2: the morning, log on for the day at my office shop,
• 13:46
  Speaker 2: and then go to the hospital after. So I still
• 13:49
  Speaker 2: get two days off a week, which is nice.
• 13:52
  Speaker 4: Are you always tired, because I feel like I would
• 13:54
  Speaker 4: always be tired.
• 13:55
  Speaker 2: Not really like I have my days Like if it's
• 13:57
  Speaker 2: really busy at the hospital, then yes, But honestly, the
• 14:01
  Speaker 2: office shop, I just sit at my desk. One day's
• 14:04
  Speaker 2: from home and one day's in the office, and it's
• 14:07
  Speaker 2: very nice.
• 14:08
  Speaker 4: See that blows my mind in the nicest way possible
• 14:11
  Speaker 4: that there are office jobs where you're like, yep, I
• 14:12
  Speaker 4: just like kind of do what I'm told when I can.
• 14:15
  Speaker 4: But it's like pretty lax. I can't think as a
• 14:18
  Speaker 4: small business owner, I would actually cry if people were
• 14:22
  Speaker 4: doing that in my business, Like whoa, I mean, pop off.
• 14:25
  Speaker 4: We won't name them, I won't name you, but you
• 14:27
  Speaker 4: know when you're just like wholy guacamole.
• 14:29
  Speaker 2: Yeah, they have a lot of full time stuff and
• 14:33
  Speaker 2: I'm kind of like the only one that does what
• 14:36
  Speaker 2: I do. But I think because it's either like higher
• 14:40
  Speaker 2: someone new and have to train them in everything that
• 14:43
  Speaker 2: I've learned, you know, in the last I think I've
• 14:45
  Speaker 2: been there five years or so, or just keep me.
• 14:49
  Speaker 2: I think easier choice was just to keep me.
• 14:51
  Speaker 4: So, hey, that's cute. We're going to use that for
• 14:54
  Speaker 4: as long as we can. So you're about one hundred
• 14:56
  Speaker 4: grand a year ish as an RN, and then I
• 14:59
  Speaker 4: would say about twenty five five thousand dollars per year
• 15:01
  Speaker 4: if you're nine eighty a fortnight as a office worker.
• 15:05
  Speaker 4: In addition, which brings you to about I would say
• 15:08
  Speaker 4: one twenty five per annum. And then I'm assuming you
• 15:11
  Speaker 4: have little top ups here and there from overtime from
• 15:13
  Speaker 4: the hospital, and we just make decisions along the way.
• 15:15
  Speaker 2: I think the one hundred grand would be including over time.
• 15:19
  Speaker 4: Okay, yeah, yeah, that works too, So let's just call
• 15:21
  Speaker 4: it one twenty five money win. And that is a
• 15:24
  Speaker 4: great place to be in. Tell me a little bit more,
• 15:27
  Speaker 4: because go like four years, eighteen grand in savings, thirty
• 15:31
  Speaker 4: four thousand dollars in the share market. Sorry, what are
• 15:35
  Speaker 4: your money goals? What are we working towards? Because you're
• 15:37
  Speaker 4: working hard.
• 15:38
  Speaker 2: Yeah, I'm working hard to retire early. That is my goal.
• 15:43
  Speaker 2: What does that mean? That means by my deadline's kind
• 15:47
  Speaker 2: of forty. Oh okay, but you know, if I could
• 15:52
  Speaker 2: do it earlier, that would be great. But I don't
• 15:54
  Speaker 2: know if I would ever completely finish. More on a
• 15:57
  Speaker 2: personal my brain would itself if I stayed home every
• 16:01
  Speaker 2: single day, but it be in the position at forty
• 16:04
  Speaker 2: to be like I could just work one day a fortnight,
• 16:07
  Speaker 2: or I could just do a shift here and there,
• 16:09
  Speaker 2: and I'd be so happy with that more just for
• 16:13
  Speaker 2: brain stimulation purposes. But I would love to retire by
• 16:17
  Speaker 2: forty and that's my goal.
• 16:19
  Speaker 4: And for those following along at the moment, our money
• 16:22
  Speaker 4: direst is twenty seven today, so that's exciting. Tell me
• 16:26
  Speaker 4: not today like it's not your birthday, but like as
• 16:28
  Speaker 4: well for recording, she's twenty seven, Happy birthday for whenever
• 16:31
  Speaker 4: your birthday is. That wasn't a criteria question. Twenty eight soon,
• 16:35
  Speaker 4: which is good, so you've got heaps of time, but
• 16:37
  Speaker 4: also like, at the same time, to achieve a retirement
• 16:40
  Speaker 4: by forty, you've got to be pretty aggressive. So tell
• 16:42
  Speaker 4: me a little bit about what that looks like. If
• 16:45
  Speaker 4: you've got one twenty five k coming in, what are
• 16:48
  Speaker 4: our investing in savings goals each week or each fortnite,
• 16:51
  Speaker 4: depending on how you get paid.
• 16:52
  Speaker 2: So I just work on my base salary for my budget,
• 16:56
  Speaker 2: and I think I am first not I think I
• 16:59
  Speaker 2: do a thousand a fortnite.
• 17:01
  Speaker 4: A thousand of Fortnite is so good.
• 17:03
  Speaker 2: I'm going for aggressive at the moment I used to
• 17:07
  Speaker 2: do when I was still at UNI, like the minimum.
• 17:11
  Speaker 2: I think I did like whatever my budget could allow,
• 17:13
  Speaker 2: which was like thirty dollars or something I could buy
• 17:15
  Speaker 2: like one share per Fortnite, And I was like, you.
• 17:18
  Speaker 4: Know what, but from little things, big things grow. Now
• 17:20
  Speaker 4: there's like thirty four thousand dollars in there, and if
• 17:22
  Speaker 4: you're doing one thousand dollars per Fortnite, that's like twenty
• 17:24
  Speaker 4: six thousand dollars a year. Be for real, Like that's
• 17:28
  Speaker 4: so good. Like imagine if we could go back and
• 17:30
  Speaker 4: tell baby you four years ago, by the way, not
• 17:33
  Speaker 4: only are you going to get this budget things sortaed,
• 17:35
  Speaker 4: you're going to be an investor and an aggressive one
• 17:37
  Speaker 4: and you're going to have retirement goals. You'll be like EO,
• 17:40
  Speaker 4: David Dues, Yeah, like what why would I do that
• 17:43
  Speaker 4: to myself?
• 17:44
  Speaker 2: I know? So I think that's the goal I save.
• 17:48
  Speaker 2: I have a long term savings that I do. It's
• 17:52
  Speaker 2: like a smaller amount because I decided to go more
• 17:54
  Speaker 2: aggressive with the investing and a little short term save
• 18:00
  Speaker 2: well for like things that just I want to buy
• 18:02
  Speaker 2: or come up or you know, spontaneous things.
• 18:05
  Speaker 4: Absolutely, I know we still budgeting for things like I
• 18:08
  Speaker 4: know you've got a partner. Are we budgeting for big
• 18:11
  Speaker 4: life events with your partner or holidays or like what
• 18:13
  Speaker 4: does that look like?
• 18:15
  Speaker 2: Yeah, that is an interesting question because we're not really
• 18:19
  Speaker 2: sure what it will look like. We're both very financially savvy,
• 18:22
  Speaker 2: so like having a wedding, a massive wedding, or spending
• 18:25
  Speaker 2: something like that or doesn't really align with us. Buying
• 18:28
  Speaker 2: a house just doesn't seem like something that we really
• 18:32
  Speaker 2: want to do anytime soon. We're really happy with renting
• 18:37
  Speaker 2: in the area that we want to live in, and
• 18:41
  Speaker 2: any extra cash just goes straight into investing, like any
• 18:45
  Speaker 2: overtime that I actually make, so I know what my
• 18:47
  Speaker 2: base is, and then everything's automatically transferred, every pay straight
• 18:52
  Speaker 2: into the investment account. It comes straight out automatically invested.
• 18:57
  Speaker 2: All of it's invested into the different accounts automatically and
• 19:02
  Speaker 2: then any extra I see what I need that fortnite
• 19:07
  Speaker 2: is my short term looking a bit. You know, Hey,
• 19:09
  Speaker 2: how are you going?
• 19:10
  Speaker 4: Oh yeah, yeah, and it can it can look a
• 19:13
  Speaker 4: little bit how you're going like mine does. Sometimes.
• 19:16
  Speaker 2: Yeah, if I've had like a few things, like you know,
• 19:19
  Speaker 2: events that I've had to buy gifts for or things
• 19:22
  Speaker 2: that I've needed, I'll top up that account with my overtime,
• 19:27
  Speaker 2: and then if I'm all good at that time, I'll
• 19:30
  Speaker 2: just chuck it straight into investing obsessed.
• 19:33
  Speaker 4: I love that. All right, let's go to a really
• 19:35
  Speaker 4: quick break because on the flip side, I want to
• 19:38
  Speaker 4: know more about this investment portfolio. I'm going to make
• 19:40
  Speaker 4: you break down the nitty gritty, so I hope you
• 19:42
  Speaker 4: are ready, and then we're going to talk about your
• 19:43
  Speaker 4: feelings about debt and then best and worse money habits.
• 19:46
  Speaker 4: So guys, don't go anywhere money direst We are back,
• 19:52
  Speaker 4: and I am not done talking about investing with you.
• 19:55
  Speaker 4: I've gotten real pervy recently on people's investing portfolios and
• 20:00
  Speaker 4: want the tea. So let's rewind back to four years ago.
• 20:04
  Speaker 4: You probably didn't even think you'd start investing. What was
• 20:08
  Speaker 4: the I guess we've been talking about gateway drugs. What
• 20:12
  Speaker 4: was your gateway into investing? Like, why did you go?
• 20:14
  Speaker 2: That's for me, So it was probably largely related to
• 20:18
  Speaker 2: my partner, who has invested for a long time, very savvy,
• 20:24
  Speaker 2: kind of introduced me to the world of investing. He
• 20:28
  Speaker 2: did make me do a bit of research and look
• 20:31
  Speaker 2: into a few things and good man, yeah, kind of
• 20:34
  Speaker 2: what I wanted to do. And then that's kind of
• 20:38
  Speaker 2: how I started. Really. I trusted him and he was
• 20:42
  Speaker 2: open and showed his portfolio and just so I could
• 20:45
  Speaker 2: kind of see how it works and how growth works
• 20:48
  Speaker 2: and what the heck everyone's talking about and they talk
• 20:52
  Speaker 2: about investing or yeah, so that's kind of how I started.
• 20:57
  Speaker 2: I have read your investing book as well. Now I
• 21:00
  Speaker 2: don't think back then.
• 21:01
  Speaker 4: No, no, you wouldn't have want to pick that one up,
• 21:03
  Speaker 4: do you know what. I kind of remember when it
• 21:05
  Speaker 4: came out, if I'm being honest.
• 21:06
  Speaker 2: Same, Yeah, I can't remember when when it came out,
• 21:09
  Speaker 2: but I don't think it was out at the time
• 21:12
  Speaker 2: where I had maybe started.
• 21:13
  Speaker 4: Yeah, probably not. I have to google my own book.
• 21:16
  Speaker 4: So Investing with Cheese on the Money came out in
• 21:19
  Speaker 4: I Believe twenty twenty three. Yes, so you definitely wouldn't
• 21:24
  Speaker 4: have been out yet. No, that's crazy that I had
• 21:25
  Speaker 4: to google my own book. One out of ten cannot
• 21:27
  Speaker 4: recommend my brain at the moment, so tell me a
• 21:31
  Speaker 4: bit more. So you had a look and you were like, Okay, cool,
• 21:34
  Speaker 4: this seems like a really good idea. How did you
• 21:37
  Speaker 4: purchase your first share? Did you download an investing platform first?
• 21:40
  Speaker 4: Did you go direct?
• 21:40
  Speaker 2: Like?
• 21:41
  Speaker 4: What did that journey look like?
• 21:42
  Speaker 2: Yes? So I went through comm Sec comb Pocket or
• 21:46
  Speaker 2: one of those com sec or Comsect pocket, and I
• 21:49
  Speaker 2: just bought my first ETF share. We always laugh about
• 21:54
  Speaker 2: this because EFT is my contract at nursing and ETFs interesting,
• 22:01
  Speaker 2: and every time I go to say it, I'm like,
• 22:03
  Speaker 2: which one am I trying to say?
• 22:05
  Speaker 4: I love that. I remember way back in the day,
• 22:07
  Speaker 4: I was so nervous to do a speaking presentation on investing,
• 22:11
  Speaker 4: and I really hadn't thought enough about this. I was
• 22:13
  Speaker 4: so worried about like how I was presenting myself and
• 22:15
  Speaker 4: all of that other stuff. And then I realized when
• 22:17
  Speaker 4: I looked back at a clip the amount of times
• 22:19
  Speaker 4: I called it an EFT that's me. No, I was
• 22:21
  Speaker 4: meant to be the subject matter expert, and I was
• 22:24
  Speaker 4: calling it an EFT. So if anyone has that recording,
• 22:26
  Speaker 4: just delete it, like we're friends, Like you're meant to
• 22:29
  Speaker 4: have my back, Like let's bring it up again, because
• 22:31
  Speaker 4: I remember being mortified and being like I have to
• 22:34
  Speaker 4: leave the industry, Like I'm going to cancel myself. Yeah,
• 22:37
  Speaker 4: I quit the facts about those EFTs. Yeah they were right,
• 22:42
  Speaker 4: but they were about ETFs. So anyway, that's my Like
• 22:46
  Speaker 4: I don't have dyslexia. I have ADHD, but I'm pretty
• 22:49
  Speaker 4: sure they kind of go hand in hand. They have
• 22:51
  Speaker 4: to they do.
• 22:52
  Speaker 2: So every time I call it that, I laugh. But
• 22:55
  Speaker 2: it's ETF.
• 22:56
  Speaker 4: Who cares as long as you're investing, Like you know
• 22:59
  Speaker 4: what you meant? You know what you meant, didn't you? Yeah, exactly.
• 23:03
  Speaker 4: So you brought your first ETF? And why did you
• 23:06
  Speaker 4: pick that ETF? Was it because other people held it?
• 23:09
  Speaker 4: Was it because you thought it was a little bit sexy?
• 23:12
  Speaker 4: Like how did we pick? So my partner invests in
• 23:15
  Speaker 4: that ETF?
• 23:17
  Speaker 2: What is it?
• 23:17
  Speaker 4: Come on? Cough up?
• 23:18
  Speaker 2: Oh you want to know?
• 23:19
  Speaker 4: Oh yeah, of course I want to know.
• 23:20
  Speaker 2: NDQ So it's like the top tech companies in America
• 23:25
  Speaker 2: and yeah, I had to look at kind of what
• 23:28
  Speaker 2: companies they held, and there's a lot of things going
• 23:31
  Speaker 2: on with AI and tech in our day and age
• 23:35
  Speaker 2: in our society, and it just felt like a good fit.
• 23:38
  Speaker 2: It had really good growth.
• 23:39
  Speaker 4: It still does have really good growth.
• 23:41
  Speaker 2: Yeah, And I was just like, you know, this just
• 23:44
  Speaker 2: sounds good. And that's where I started. And I do
• 23:47
  Speaker 2: hold a bit of VHY. It's a high dividend paying
• 23:51
  Speaker 2: one kind of going back and forth of when I
• 23:54
  Speaker 2: do have kids and not working, maybe putting a chunk
• 23:57
  Speaker 2: of my portfolio in there to generate a bit of
• 24:01
  Speaker 2: an income. So I thought I'd maybe just see how
• 24:04
  Speaker 2: I feel I put a bit of money in there,
• 24:06
  Speaker 2: just to test the waders before I have kids.
• 24:10
  Speaker 4: You know, No, I really like it, and I think
• 24:12
  Speaker 4: it's one of those things where I like asking you, well,
• 24:15
  Speaker 4: what ETF did you pick? Not because I want other
• 24:17
  Speaker 4: people to replicate it, but it's usually reflective of your
• 24:21
  Speaker 4: values and what you're looking for and how that works.
• 24:23
  Speaker 4: So I was just like, NDQ, I believe, don't quote
• 24:26
  Speaker 4: me on this is the beta shares NASDAQ one hundred ETF,
• 24:29
  Speaker 4: So it's got the top one hundred American tech companies
• 24:33
  Speaker 4: in it, so like literally Alphabet, Apple, all those ones
• 24:36
  Speaker 4: that you can think of that would be pretty stereotypical.
• 24:38
  Speaker 4: And the performance on that has been very good. Was
• 24:42
  Speaker 4: that your first share like three or four years ago? Yeah,
• 24:45
  Speaker 4: three or four years ago, So you've probably seen astronomical
• 24:47
  Speaker 4: growth in that ETF, Like I believe if you like
• 24:50
  Speaker 4: zoom out, do not quote me on this, but I
• 24:52
  Speaker 4: know that I'm like very close to the mark. It's
• 24:54
  Speaker 4: had like one hundred percent return. So tell me what's
• 24:57
  Speaker 4: that share looking like in your portfolio in terms of
• 25:00
  Speaker 4: turn at the moment.
• 25:01
  Speaker 2: It's a good, real juicy.
• 25:02
  Speaker 4: It's looking pretty slick, and we're not promising that. It's
• 25:05
  Speaker 4: just so pervy to like get involved with what like
• 25:09
  Speaker 4: other people are doing, being like oh good, because you
• 25:11
  Speaker 4: can't replicate that. You can't go back in time and
• 25:13
  Speaker 4: purchase that share and get the same performance as our
• 25:15
  Speaker 4: money direst But like, look at her buying in line
• 25:19
  Speaker 4: with her values. That's so sexy because like for me
• 25:22
  Speaker 4: my first ETF, when I went into it, I wasn't
• 25:25
  Speaker 4: looking at a sector like you have. I was looking
• 25:27
  Speaker 4: at like a top five hundred because I wanted heaps
• 25:30
  Speaker 4: of diversification. But I want to know why people pick
• 25:33
  Speaker 4: these things, because these conversations drive your own narrative in
• 25:38
  Speaker 4: your mind of how you're then going to pick. You go, oh, interesting,
• 25:40
  Speaker 4: maybe I could pick a tech one. I love tech
• 25:43
  Speaker 4: like that makes me feel comfy. So anyway, thank you
• 25:45
  Speaker 4: for sharing that talk to me about income increases. If
• 25:48
  Speaker 4: you increase your income, is your plan to then just
• 25:51
  Speaker 4: aggressively invest more? Because at the moment, if I do
• 25:54
  Speaker 4: some calculations because I'm a creep, you said that you're
• 25:57
  Speaker 4: investing one thousand dollars per fortnite, and like, I've calculated
• 26:01
  Speaker 4: based on having thirty four thousand dollars today and then
• 26:03
  Speaker 4: one thousand dollars per fortnight moving forward and an average
• 26:06
  Speaker 4: rate of return of ten percent in twelve years. Because
• 26:08
  Speaker 4: you said I'm nearly twenty eight, so I was like, okay, cool,
• 26:11
  Speaker 4: there'll be thirty eight forty. You've got twelve years until
• 26:14
  Speaker 4: you quote retire. You'll have an investment portfolio worth about
• 26:18
  Speaker 4: seven hundred and eleven thousand dollars. What are you doing
• 26:22
  Speaker 4: around superannuation? Because that's good, but seven hundred and eleven
• 26:25
  Speaker 4: thousand dollars I feel like is not where you stop
• 26:28
  Speaker 4: when you're trying to retire.
• 26:29
  Speaker 2: No, my portfolio is now nearly at fifty five thousand.
• 26:34
  Speaker 2: Stop it.
• 26:35
  Speaker 4: So you wrote this in you said, yeap, I've got
• 26:37
  Speaker 4: thirty four thousand dollars and now it's fifty five thousand dollars.
• 26:40
  Speaker 4: I need to eat my words and do my maths again, queen.
• 26:42
  Speaker 2: Stop it. But Super is invested in high growth international
• 26:47
  Speaker 2: shares with Vanguard Super and that growth has been craikra
• 26:53
  Speaker 2: since I transferred it. I think it's been like a
• 26:56
  Speaker 2: year and it's done really good growth, which I know
• 27:00
  Speaker 2: it's a bit more risky because it's in the higher growth.
• 27:03
  Speaker 2: But I thought, well, you know, can't access it till
• 27:05
  Speaker 2: i'm sixty probably sixty eight at this rate. Yes, so
• 27:09
  Speaker 2: I thought, you know, in sixty eight, it's going to
• 27:11
  Speaker 2: ride so many waves of up and downs and we'll
• 27:15
  Speaker 2: see when it gets there. But I think it's got
• 27:17
  Speaker 2: around thirty thousand in it and that'll just keep going
• 27:21
  Speaker 2: up because I'm working full time now, and yeah, it's
• 27:26
  Speaker 2: a good amount that's going in. I keep an eye
• 27:28
  Speaker 2: on it just to make sure you know, everyone's paying
• 27:32
  Speaker 2: what they should be paying.
• 27:33
  Speaker 4: But it's important because some people skip that and then
• 27:35
  Speaker 4: it gets too late.
• 27:36
  Speaker 2: No, so that's not when I think about retiring. And
• 27:40
  Speaker 2: I don't even pencil that in because I really want
• 27:43
  Speaker 2: to retire a lot earlier than when they say that
• 27:46
  Speaker 2: you have to retire, because I don't think I'm going
• 27:48
  Speaker 2: to make it to sixty eight to work for the
• 27:50
  Speaker 2: rest of Yeah, between now and sixty.
• 27:52
  Speaker 4: Eight, that is so fair. Do you and your partner
• 27:55
  Speaker 4: have conversations around your investing strategy and what that looks like.
• 27:58
  Speaker 4: Like I know that you say, oh, we don't really
• 28:00
  Speaker 4: have any big goals of like, you know, a wedding
• 28:03
  Speaker 4: or buying a house or any of that. But does
• 28:05
  Speaker 4: he also have the goal of retiring by the time
• 28:08
  Speaker 4: you're forty?
• 28:09
  Speaker 2: He has the same goal as retiring early. And I
• 28:11
  Speaker 2: think when we think about that, we're very aligned on
• 28:16
  Speaker 2: our goals and what it looks like. And every time
• 28:18
  Speaker 2: I make a decision or I'm like, oh, you know,
• 28:21
  Speaker 2: when I started at the hospital and obviously my going
• 28:25
  Speaker 2: from like part time to like six days a week
• 28:27
  Speaker 2: of pay, he's my little financial advisor because I'm like,
• 28:32
  Speaker 2: you know, we're doing all the math and the budget
• 28:34
  Speaker 2: tools and the what does it look like if I
• 28:37
  Speaker 2: do X, I mean, what does it look like for
• 28:39
  Speaker 2: my portfolio if I go really aggressive, or if I
• 28:43
  Speaker 2: go middle, or if I go conservative. We did all
• 28:45
  Speaker 2: of the numbers and we landed on Yeah, thousand a fortnight.
• 28:50
  Speaker 2: There's probably still more wiggle room than I could probably do.
• 28:54
  Speaker 4: But you don't want to shoot yourself in the foot.
• 28:56
  Speaker 2: Yeah, I want to be realistic.
• 28:58
  Speaker 4: Yeah, yeah, I think that over committing means that you
• 29:01
  Speaker 4: would be consistently disappointed if you didn't meet the criteria,
• 29:05
  Speaker 4: whereas if you set something that's relatively reasonable. And you
• 29:07
  Speaker 4: know what, there are probably some people listening to this going, wow,
• 29:10
  Speaker 4: that's five hundred dollars a week that she's investing. That's
• 29:13
  Speaker 4: really unrelatable.
• 29:14
  Speaker 2: Yeah, it was unrelatable to me four years ago, but.
• 29:18
  Speaker 4: Like, that's just it. And I was reading the comments,
• 29:21
  Speaker 4: and you know, this is she's on the money, so
• 29:23
  Speaker 4: I'm very honest. But I was reading the comments the
• 29:24
  Speaker 4: other day on one of our investing diaries, and i'd
• 29:27
  Speaker 4: actually had one of my team members on the show, Brooke,
• 29:31
  Speaker 4: who had been talking about her investing journey. And she
• 29:34
  Speaker 4: invests about six hundred and eighty dollars a week and
• 29:37
  Speaker 4: she has two full time jobs as well. She's very
• 29:40
  Speaker 4: similar to you, and that she didn't come from good
• 29:43
  Speaker 4: financial literacy. She didn't have a leg up, she didn't
• 29:45
  Speaker 4: have parents who taught her how to invest, she didn't
• 29:48
  Speaker 4: have any of those benefits. Yes, I think that there's
• 29:50
  Speaker 4: a very broad conversation about, you know, just privilege. We
• 29:53
  Speaker 4: live in Australia. We have access to the ability to
• 29:56
  Speaker 4: do these things, and that's fantastic. But I would never
• 29:59
  Speaker 4: want to downplay the fact that no, no, no, you guys
• 30:01
  Speaker 4: are doing this yourselves, Like you are creating this financial
• 30:04
  Speaker 4: freedom on your own because you have the tools and
• 30:06
  Speaker 4: resources and you're harnessing them. For most people who are
• 30:10
  Speaker 4: just starting and maybe they're listening to this money Diary,
• 30:13
  Speaker 4: let's remember that this money Diarres literally was in quote
• 30:16
  Speaker 4: four years ago, the worst financial position of her life.
• 30:19
  Speaker 4: Like we're not talking about people where it's like, oh yeah,
• 30:22
  Speaker 4: but she has the free cash flow. I'm sorry and
• 30:24
  Speaker 4: I'm not trying to downplay it at all, but like
• 30:26
  Speaker 4: you have two very normal jobs. You're a nurse and
• 30:29
  Speaker 4: you have an office job. And the reason you keep
• 30:31
  Speaker 4: your office job is like you love the income coming in,
• 30:33
  Speaker 4: you love the freedom you're creating for yourself. This isn't
• 30:36
  Speaker 4: like out of reach. It's unrelatable because you're not doing
• 30:39
  Speaker 4: it right now, but it's not unobtainable. Which I think
• 30:42
  Speaker 4: is the coolest part of it. At what point did
• 30:45
  Speaker 4: you realize, holy gacamole, I'm doing it myself, Like this
• 30:49
  Speaker 4: is actually a reality. It's not like I have four
• 30:51
  Speaker 4: hundred dollars in shares and like, oh, I could leave it.
• 30:54
  Speaker 4: Maybe at what point where you're like, hold on, hold on.
• 30:57
  Speaker 2: I still log onto my APPP and I'm like, wooll
• 31:01
  Speaker 2: jump scar well because I'm like, there's no way that
• 31:03
  Speaker 2: that's mine. And I did that. So I think I'm
• 31:07
  Speaker 2: very grateful for how far I've come. I'm grateful really
• 31:11
  Speaker 2: to my partner for helping me. I'm grateful for you
• 31:14
  Speaker 2: guys for your book. I used to read all of
• 31:16
  Speaker 2: the Facebook money wins and all of the little hacks
• 31:22
  Speaker 2: the budgets. I have everything down to the dollar, you know,
• 31:25
  Speaker 2: Like my budget is just so every single thing that
• 31:28
  Speaker 2: comes out of my account is accounted for. And I
• 31:31
  Speaker 2: couldn't have done it without sacrifice. I had to sacrifice,
• 31:34
  Speaker 2: you know. I went to UNI and worked part time,
• 31:37
  Speaker 2: and during that time a lot of my friends bought houses,
• 31:40
  Speaker 2: and you know, we're working full time jobs. So you know,
• 31:45
  Speaker 2: I am a bit older as well, like you know,
• 31:48
  Speaker 2: at twenty eight to finish UNI, or like last year
• 31:51
  Speaker 2: twenty seven, and a lot of them had been working
• 31:54
  Speaker 2: their full time jobs for already three to four years
• 31:56
  Speaker 2: and are buying houses now. So you know, it took
• 31:59
  Speaker 2: a lot of sacrifice for me to go back to
• 32:01
  Speaker 2: UNI and go, yeah, to have the vision and yeah,
• 32:07
  Speaker 2: to get where I am now.
• 32:09
  Speaker 4: It did stop going their bed bathroom table. Oh no,
• 32:12
  Speaker 4: don't do that to me. I really like bed bathroom table.
• 32:14
  Speaker 4: I'm my girlfriend. It's coming up to Christmas time soon,
• 32:18
  Speaker 4: and like their Christmas range, Oh sorry, it's a slippery slope.
• 32:21
  Speaker 4: So we just don't go there anymore.
• 32:23
  Speaker 2: And I have really good self control. I remember you
• 32:26
  Speaker 2: saying I think on a podcast episode that you put
• 32:29
  Speaker 2: twenty four hours between you and a purchase, and I
• 32:33
  Speaker 2: do that sometimes where I'm like, okay, it's been three weeks.
• 32:36
  Speaker 4: How good is that.
• 32:36
  Speaker 2: I don't know if she meant I need to put
• 32:38
  Speaker 2: this much time between a purchase, but no, no, no.
• 32:41
  Speaker 4: That's better, bab. But I just have a lack of
• 32:43
  Speaker 4: impulse control, so twenty four hours is the minimum. The
• 32:46
  Speaker 4: longer you can stretch it, the more you know whether
• 32:48
  Speaker 4: you want it or not. Three weeks queen behavior.
• 32:50
  Speaker 2: Yeah. I remember I was sitting there looking at this
• 32:53
  Speaker 2: pair of Ugbroots and I was like, oh, I really
• 32:55
  Speaker 2: want some Ugbroots for winter. And I was like, I
• 32:58
  Speaker 2: just don't know if I can, like, you know, justify
• 33:02
  Speaker 2: they are kind of expensive for slippers, and I was like,
• 33:05
  Speaker 2: you know, I'm just gonna wait. I waited like five
• 33:08
  Speaker 2: weeks and then I was like, you know what, I'm
• 33:11
  Speaker 2: going to just see how I feel when I log
• 33:13
  Speaker 2: back onto the page. And then they were on sale. Ah.
• 33:16
  Speaker 4: See, good things happened to good people.
• 33:18
  Speaker 2: Baby, And I was like, see I waited and I
• 33:20
  Speaker 2: got the sale price. So yeah. I changed my whole
• 33:23
  Speaker 2: attitude on that as well, like the spending and going out,
• 33:28
  Speaker 2: like not that I really dined out too much, but
• 33:31
  Speaker 2: just yeah, my values had to shift to remember what
• 33:35
  Speaker 2: I want to do, and that's retire and not have
• 33:38
  Speaker 2: to work for the rest of my life. And I
• 33:42
  Speaker 2: remember that when I think about why I'm investing aggressively,
• 33:46
  Speaker 2: it's for that reason, you know. Yeah.
• 33:48
  Speaker 4: And it's funny because you just said you know, I'm
• 33:51
  Speaker 4: so grateful for my partner, and I'm so grateful for
• 33:53
  Speaker 4: all of these other things, but like you didn't mention
• 33:55
  Speaker 4: you and like, at the end of the day, you
• 33:57
  Speaker 4: can lead a horse to water, but you can't make
• 33:59
  Speaker 4: them drink. I can throw and I do. I'm so
• 34:02
  Speaker 4: aggressive about it. I'm like so female, financially empowered. Like
• 34:07
  Speaker 4: I'm just like, okay, cool, anyone can do it. Like
• 34:10
  Speaker 4: you know, you combat me and come to me and
• 34:12
  Speaker 4: be like, well that's unrealistic. I'm like, sit down, it's
• 34:14
  Speaker 4: not unobtainable. This is how we're going to do it.
• 34:16
  Speaker 4: Like I want you to be able to do it,
• 34:17
  Speaker 4: but it is uncomfortable. You have to do the work.
• 34:21
  Speaker 4: And you said at the start of this episode, and
• 34:23
  Speaker 4: like I think that this is where I'm obsessed with
• 34:26
  Speaker 4: this money diary. You said at the start. Look, Va,
• 34:28
  Speaker 4: I read your book and I did the bank account
• 34:30
  Speaker 4: order and I cried, Like it was so confronting and
• 34:33
  Speaker 4: so hard. I did not promise that this journey was
• 34:35
  Speaker 4: going to be easy, but I did promise that it
• 34:38
  Speaker 4: would be rewarding, and now you were reaping the rewards.
• 34:41
  Speaker 4: But like you got to put in the work you've
• 34:43
  Speaker 4: got to do it yourself. Like I can't do it
• 34:44
  Speaker 4: for you. I wish I could. If I could wave
• 34:46
  Speaker 4: a magic wand and make every female in this country
• 34:50
  Speaker 4: super shine. It's the right risk profile, it's perfect. I
• 34:53
  Speaker 4: could set up all your investment port voluos like in
• 34:56
  Speaker 4: line with your goals and your value. I would, but
• 34:58
  Speaker 4: I can't. You have to do the work. So I
• 35:02
  Speaker 4: hope you're grateful for you too, because you're the one
• 35:03
  Speaker 4: that did the work. Nobody else did that.
• 35:05
  Speaker 2: I am yeah, Yeah, I'm glad that I did it.
• 35:08
  Speaker 2: And I had that kind of maybe low point where
• 35:11
  Speaker 2: I did feel like everything was chaotic, but now I yeah,
• 35:16
  Speaker 2: just you have to do it yourself, and you have
• 35:18
  Speaker 2: to be ready for that journey and ready for the
• 35:20
  Speaker 2: sacrifice because it's your money, your pay your budget. You know,
• 35:26
  Speaker 2: no one can do it for you. At the end
• 35:27
  Speaker 2: of the day. You have to be into it. You
• 35:30
  Speaker 2: have to be accountable because it's your money. Yeah.
• 35:33
  Speaker 4: And it's funny because recently I've been saying a lot
• 35:37
  Speaker 4: of people have been like, oh, I'm not ready to invest,
• 35:39
  Speaker 4: I'm not ready to start, And I keep saying ready
• 35:43
  Speaker 4: is not a feeling, It is a decision, like you
• 35:45
  Speaker 4: just have to pull your finger out one day and
• 35:47
  Speaker 4: be like, guess I'm ready. I guess I've got to
• 35:49
  Speaker 4: do it today. You're not going to have the most
• 35:52
  Speaker 4: amount of financial literacy that you have, Like I can
• 35:54
  Speaker 4: almost guarantee that if we went back in time, Yes,
• 35:57
  Speaker 4: you had a lot of education with your initial sharepuot
• 35:59
  Speaker 4: for but there's so much stuff you'd probably change, is
• 36:02
  Speaker 4: that right? Yeah, I mean even just reading your investing book,
• 36:05
  Speaker 4: I was like, oh, that's what that is. Oh interesting,
• 36:08
  Speaker 4: I didn't know that.
• 36:09
  Speaker 2: Oh I've been doing that and I didn't know that
• 36:12
  Speaker 2: that's what it was. Or yeah, so there's always things
• 36:15
  Speaker 2: that are going to be forever changing and growing. And yeah,
• 36:19
  Speaker 2: I just think it's so important to start like yesterday
• 36:23
  Speaker 2: because I wish I could have gone back do going
• 36:25
  Speaker 2: to work for.
• 36:26
  Speaker 4: Me, Like I'm not going to give you a cushy
• 36:27
  Speaker 4: office job, but you sound like you were on the
• 36:30
  Speaker 4: same page as me.
• 36:31
  Speaker 2: Yeah, I wish I could have started earlier, but grateful
• 36:34
  Speaker 2: that I did start when I did. And yeah, it's yeah.
• 36:39
  Speaker 2: I try my best to like anyone who asks me,
• 36:43
  Speaker 2: like in my life, my personal life or whatever, I'm like,
• 36:45
  Speaker 2: have you read cheese on the money. Have you?
• 36:47
  Speaker 4: That's so sweet?
• 36:48
  Speaker 2: Thank you? Do you invest? Do you do your Have
• 36:51
  Speaker 2: you got a budget? And You'll never believe how many
• 36:53
  Speaker 2: people tell me that they don't have a budget. And
• 36:55
  Speaker 2: I was like, that is wild. Do you work full time?
• 36:59
  Speaker 2: What do you do with your money? How does it
• 37:01
  Speaker 2: what happens when it hits your account?
• 37:03
  Speaker 4: Does that not stress your heart? They spend it? It's crazy.
• 37:06
  Speaker 4: And I'm not saying it's a bad thing. It's hard. Yeah,
• 37:09
  Speaker 4: it's hard. But once you get on the budget train,
• 37:12
  Speaker 4: I think a lot of people are evasive of it
• 37:14
  Speaker 4: because they are so scared that a budget is going
• 37:17
  Speaker 4: to be restrictive and not feel good and it's going
• 37:20
  Speaker 4: to stop them from living their best life. But it's
• 37:22
  Speaker 4: actually a tool that helps you understand every single dollar
• 37:25
  Speaker 4: that comes in, every single dollar that goes out, making
• 37:27
  Speaker 4: sure it's in line with your values, your goals. Like
• 37:30
  Speaker 4: it's just making your money work hard for you, and
• 37:33
  Speaker 4: like you don't go to work for forty plus hours
• 37:35
  Speaker 4: a week so that you can be in a worse
• 37:37
  Speaker 4: off position.
• 37:38
  Speaker 2: Mary might as well just sit at home because that's
• 37:40
  Speaker 2: too much effort exactly. But yeah, I think the budget
• 37:43
  Speaker 2: is so important because it's not restrictive. It's scary, and
• 37:47
  Speaker 2: I think that's why a lot of people don't want
• 37:49
  Speaker 2: to do it. And I didn't have a budget four
• 37:51
  Speaker 2: years ago, which you know obviously was the problem. And
• 37:55
  Speaker 2: it's not restrictive because I've been on the holiday every
• 37:57
  Speaker 2: single year since I made that because it's important to
• 38:02
  Speaker 2: me to travel, and it hasn't been restrictive, it's been freeing.
• 38:07
  Speaker 4: Yeah, tell me as well, because, like you said, I
• 38:10
  Speaker 4: was in the car with my partner planning this holiday
• 38:13
  Speaker 4: and I just realized it was financially ruining me, Like
• 38:16
  Speaker 4: I just couldn't do it. Tell me about the feeling
• 38:18
  Speaker 4: you now have when you go on holiday versus the
• 38:21
  Speaker 4: lead up to that holiday.
• 38:23
  Speaker 2: That lead up was grim. I was very stressed and like, yeah,
• 38:28
  Speaker 2: I was very daunting to go. Now I'm like a
• 38:31
  Speaker 2: bit more savvy when we go. We you know, we
• 38:34
  Speaker 2: don't always have to go for the nicest thing or
• 38:37
  Speaker 2: the most expensive thing, not that I did before, but
• 38:40
  Speaker 2: you know, we're a bit more conscious, you know, because
• 38:43
  Speaker 2: we want that goal of retiring early, but we do
• 38:46
  Speaker 2: want to travel. So it's like, where can we meet
• 38:49
  Speaker 2: in the middle, and how can we do it in
• 38:53
  Speaker 2: the smartest way. And you know, often we don't drink alcohol,
• 38:58
  Speaker 2: like that first trip we did and I reckon, we
• 39:00
  Speaker 2: spent so much money just on drinking and we're lack
• 39:05
  Speaker 2: never again. You know, we don't do that anymore, and
• 39:08
  Speaker 2: it's so much nicer to have that extra money in
• 39:11
  Speaker 2: your account. You know, that's just something that we've decided
• 39:14
  Speaker 2: when we go on trips, that's one thing that we
• 39:17
  Speaker 2: can cut out. That makes a huge difference.
• 39:19
  Speaker 4: You see. Nope, sorry, I love you, and like that
• 39:23
  Speaker 4: is so fantastic that that works for you.
• 39:25
  Speaker 2: Love an apparole, Oh my.
• 39:26
  Speaker 4: God, I don't think it's a secret, queen. I love
• 39:29
  Speaker 4: an apparol. I love a little in the afternoon, a
• 39:33
  Speaker 4: little peanutolata by a pool. Oh say less.
• 39:36
  Speaker 2: I definitely can relate.
• 39:38
  Speaker 4: But we're just I think, but that's in my budget,
• 39:41
  Speaker 4: and we budget based on our values. And that's the
• 39:43
  Speaker 4: best part, Like mad respect that you know your budget
• 39:46
  Speaker 4: and I know mine. But like the best part is
• 39:48
  Speaker 4: once you get to this stage, we're not comparing. We're
• 39:52
  Speaker 4: not looking at yours and going, oh, well, she saves
• 39:54
  Speaker 4: more money than me on that particular thing. Like it
• 39:56
  Speaker 4: all comes out in the wash in the best possible ways.
• 39:59
  Speaker 4: Can I the presumptuous and assume you don't have any debt?
• 40:03
  Speaker 2: No, I just have a hex debt. Yeah, no debt.
• 40:06
  Speaker 2: I had credit cards back in the day, which I
• 40:10
  Speaker 2: think was about five grand. But that felt like, oh
• 40:13
  Speaker 2: my god, that felt so crippling.
• 40:14
  Speaker 4: And did you max out that credit card?
• 40:16
  Speaker 2: Yeah? And I was like never I Once I paid
• 40:18
  Speaker 2: it off, I cut it up and I was like,
• 40:20
  Speaker 2: oh that, I'm never doing that again. So no debt,
• 40:23
  Speaker 2: no carloans, no after pay. I don't have an account. No,
• 40:29
  Speaker 2: no debt, no not after like my growing up lifestyle,
• 40:34
  Speaker 2: no debt for me. The HECTS is probably kind of
• 40:37
  Speaker 2: it's like around the forty grand mark hopefully with that
• 40:42
  Speaker 2: big index payment that we should be getting.
• 40:45
  Speaker 4: Oh, we're all waiting for that, and the she's on
• 40:47
  Speaker 4: the money office, we're all watching out our hex debts
• 40:50
  Speaker 4: getting very excited.
• 40:51
  Speaker 2: Yeah, I'm like, oh, hopefully soon. But honestly, I'm so
• 40:55
  Speaker 2: comfortable with that it's going to pay itself off and
• 40:59
  Speaker 2: I'm not too stressed about it. I don't really make
• 41:02
  Speaker 2: any contributions to paying it off. I'd rather invest it
• 41:06
  Speaker 2: in my shares and let it grow and yeah, I
• 41:09
  Speaker 2: feel like that will pay itself off in good time.
• 41:12
  Speaker 4: It just plods along. So now tell me, what do
• 41:14
  Speaker 4: you think your best money habit is. I feel like
• 41:16
  Speaker 4: you might have a few, like the fact that you
• 41:18
  Speaker 4: cut out alcohol because you were like, we looked at
• 41:20
  Speaker 4: how much that cost us and now we just don't
• 41:22
  Speaker 4: drink it. I couldn't pitch that to my husband. I'm
• 41:24
  Speaker 4: so sorry, just not going to work for me. But
• 41:26
  Speaker 4: what do you think your best money howbit is?
• 41:28
  Speaker 2: Be's money habit is probably all the automatic transfers, because
• 41:32
  Speaker 2: that system is just so to the tea and every
• 41:37
  Speaker 2: dollar goes somewhere. There's no lull in my bank account,
• 41:43
  Speaker 2: which is nice. And the automatic investing that I've set
• 41:47
  Speaker 2: up on Beta Shares, it's so easy. It just comes
• 41:51
  Speaker 2: straight out of my bank, straight into the wallet and
• 41:54
  Speaker 2: invests automatically, and I don't have to think about a thing.
• 41:57
  Speaker 2: I think that would be my best money habit. The
• 42:00
  Speaker 2: thing that annoys me the most is that I can't
• 42:03
  Speaker 2: guarantee how much my overtime it's going to be every
• 42:06
  Speaker 2: week to automatically invest. That that peeves me off. I
• 42:10
  Speaker 2: have to do that manually, But that would be my best.
• 42:13
  Speaker 4: But that's so good that it's automated.
• 42:15
  Speaker 2: Yeah, I love it takes their emotion out of it.
• 42:18
  Speaker 2: You know, it doesn't leave me going, oh, should I
• 42:21
  Speaker 2: put this into No, it's going into investing and it's
• 42:24
  Speaker 2: going into long term.
• 42:25
  Speaker 4: Yeah. Yeah, it's already gone. Sorry, did you mean to
• 42:28
  Speaker 4: make another decision? Because we already made it for you.
• 42:31
  Speaker 4: And I feel like, in my head, I'm like, once
• 42:33
  Speaker 4: it's in there, it's illegal to take it out. Like, sorry,
• 42:36
  Speaker 4: it's illegal. Like I've got to make a law book.
• 42:40
  Speaker 4: And one of the shehes on the money laws is
• 42:41
  Speaker 4: that you cannot take out of your investing cloud. You can,
• 42:45
  Speaker 4: by the way, don't feel stressed, but in my head,
• 42:48
  Speaker 4: it just feels like it's not mine anymore. And it's
• 42:51
  Speaker 4: a very weird concept because I obviously know that. But yeah,
• 42:54
  Speaker 4: I just once it's in there, I'm like, oh, I
• 42:56
  Speaker 4: couldn't take it out, then I'm stopping it growing never.
• 42:58
  Speaker 2: I could never do that. So that would be my
• 43:01
  Speaker 2: hot tip. And you have to do a budget to
• 43:04
  Speaker 2: do that. Team just to break it to you.
• 43:07
  Speaker 4: Yeah, yeah, yeah exactly. You and I are on the
• 43:08
  Speaker 4: same team. Do you budget and do you know what
• 43:10
  Speaker 4: the best part about this is it's free on my website.
• 43:13
  Speaker 4: Go and download it. You don't have to do anything,
• 43:16
  Speaker 4: and it will auto calculate at the bottom. That's very
• 43:19
  Speaker 4: sexy and very peachy.
• 43:21
  Speaker 2: That would be my hot tip. Also, maybe, like I
• 43:25
  Speaker 2: every time I get like a bill and that's increasing,
• 43:28
  Speaker 2: Like I always like, I don't know how many times
• 43:31
  Speaker 2: I've canceled my insurance and resigned up, like my car insurance,
• 43:34
  Speaker 2: probably ten times. So every year they're like, oh, it's
• 43:39
  Speaker 2: going back up, and I was like, for what, I
• 43:40
  Speaker 2: didn't even do anything.
• 43:42
  Speaker 4: Yeah, I didn't even have any bingals. What are you
• 43:43
  Speaker 4: talking about?
• 43:44
  Speaker 2: Yeah? And they're like, oh, you know, ten percent off
• 43:46
  Speaker 2: for new customers. I was like, hello, I've just been
• 43:49
  Speaker 2: paying you for a year. How about me? So I
• 43:53
  Speaker 2: cancel things and resign up all the time, for anything,
• 43:56
  Speaker 2: phone bills, car insurance, any bill that yeah, we have.
• 44:02
  Speaker 4: Any subscriptions I use as well, I threaten to cancel
• 44:06
  Speaker 4: even without making a phone call to cancel it. Right,
• 44:09
  Speaker 4: And Adobe is probably going to be mad that I'm
• 44:11
  Speaker 4: saying this, But I did this the other day to
• 44:13
  Speaker 4: my Adobe subscription. I like went on the website and
• 44:16
  Speaker 4: clicked cancel subscription and then it came up with a
• 44:20
  Speaker 4: last minute offer and it was like, oh, we hate
• 44:22
  Speaker 4: to see you go. Here's forty percent off the next
• 44:25
  Speaker 4: six months. And I was like, oh that's nice, thanks. Yeah, yeah, actually,
• 44:29
  Speaker 4: because I was going to hit cancel subscription and just
• 44:32
  Speaker 4: see what happened. Then I was going to resign up anyway, I.
• 44:37
  Speaker 2: Fine with phone bills. If you asked to be transferred
• 44:39
  Speaker 2: to the cancelation team, they can always give you a
• 44:43
  Speaker 2: better price than even just negotiating with the people on
• 44:47
  Speaker 2: like the phone. You'd be like, no, I'm canceling, I'm unhappy,
• 44:51
  Speaker 2: and then the cancelation team have a better price that
• 44:54
  Speaker 2: they can offer you. So got to swindle every dollar
• 44:57
  Speaker 2: you know.
• 44:57
  Speaker 4: Love, you are a woman from my own community. Tell me, though,
• 45:02
  Speaker 4: flip the narrative. What's your worst money habit? Have you
• 45:04
  Speaker 4: even got any at this point, I've.
• 45:06
  Speaker 2: Tried really hard to think of one, and I definitely
• 45:11
  Speaker 2: had a few back in the day. My worst money
• 45:14
  Speaker 2: habit would be, God, I don't know. I would say
• 45:20
  Speaker 2: maybe travel, Like even if it's not.
• 45:22
  Speaker 4: No, it's not, you can't because you don't even drink
• 45:24
  Speaker 4: when you travel. Sorry you're too savvy for this show.
• 45:27
  Speaker 4: But that's okay, But I have to ask a pressing
• 45:29
  Speaker 4: question because, like you know, at the start, I told
• 45:31
  Speaker 4: you we're going to loop back to this. You said, oh,
• 45:33
  Speaker 4: I'm a B plus. What kind of B plus person
• 45:36
  Speaker 4: says they don't have a bad money habit? Like a
• 45:39
  Speaker 4: person who says no straight out the gates. I'm an
• 45:40
  Speaker 4: A plus. And then if they said I don't have
• 45:42
  Speaker 4: any bad money habits, I'd be like, you know what,
• 45:44
  Speaker 4: I believe you, but sorry, what's the B plus for? Then?
• 45:47
  Speaker 4: Why not a plus if no bad money habits?
• 45:49
  Speaker 2: I don't know. I do want to, like hi ball
• 45:51
  Speaker 2: myself and then we have this comra and I was like, oh, actually.
• 45:54
  Speaker 4: Oh no, sorry. In this house, we back ourselves.
• 45:57
  Speaker 2: I think there's always room to grow, which is why
• 46:00
  Speaker 2: I did be plus because I want to strive to
• 46:04
  Speaker 2: be the best. But sometimes, you know, things happen. We
• 46:07
  Speaker 2: can't guarantee every single thing's a sure thing for the
• 46:11
  Speaker 2: rest of our lives till I retire. But I love it. Yeah,
• 46:15
  Speaker 2: I'm probably an ade.
• 46:16
  Speaker 4: Yeah, I know, I know, like I just heard your
• 46:19
  Speaker 4: money story, baby cakes, I know, but I do want
• 46:22
  Speaker 4: to ask, though, if you've not got a bad money habit?
• 46:24
  Speaker 4: You have to tell me what was the last thing
• 46:25
  Speaker 4: you impulse purchased.
• 46:26
  Speaker 2: I feel like it was just yesterday because I've been
• 46:29
  Speaker 2: on annual leave and I'm looking for things to do
• 46:33
  Speaker 2: around the house, and I bought a new monitor from
• 46:38
  Speaker 2: Marketplace for my desk like at home. So now I
• 46:41
  Speaker 2: have two screens for my home office. I didn't really
• 46:45
  Speaker 2: need it. I had one and my laptop, but I
• 46:47
  Speaker 2: was like, oh, you know, if I'm going to work
• 46:49
  Speaker 2: from home for a while, I could get another one.
• 46:52
  Speaker 2: That's good.
• 46:53
  Speaker 4: I love it. See guys, even her like Impulse purchases
• 46:56
  Speaker 4: are on bloody Marketplace. She is savvy, she's an a
• 47:00
  Speaker 4: W she's an A plus. I love it, money Dirist,
• 47:02
  Speaker 4: this has been a pleasure. I am just so glad
• 47:06
  Speaker 4: that you not only wanted to share your story, we
• 47:08
  Speaker 4: had a really great chat. I feel like this is
• 47:10
  Speaker 4: going to be a very fun episode to listen to.
• 47:12
  Speaker 4: But then also, you just you're so part of the community,
• 47:16
  Speaker 4: the book, the podcast, like you're investing your saving like
• 47:19
  Speaker 4: you're an icon. I love it. And for anyone listening
• 47:23
  Speaker 4: who's like that's unrelatable, No, Queen, it's not unrelatable. It's
• 47:26
  Speaker 4: just not currently being done, like you're just not doing it.
• 47:29
  Speaker 4: You can absolutely create this yourself. And I just think
• 47:31
  Speaker 4: that's the coolest part of this money story. You did
• 47:34
  Speaker 4: this yourself. I love it.
• 47:35
  Speaker 2: Thank you.
• 47:37
  Speaker 5: I would read the book, you know, the little people's
• 47:41
  Speaker 5: stories when I was first reading the book, and I
• 47:43
  Speaker 5: was like, oh, that could just never be me because
• 47:45
  Speaker 5: that seems so unachievable.
• 47:47
  Speaker 2: But well, here I am.
• 47:49
  Speaker 4: I guess it's small steps in the right direction. And
• 47:51
  Speaker 4: I think that all the time we get so overwhelmed
• 47:55
  Speaker 4: and like, social media does not help, because social media
• 47:58
  Speaker 4: definitely shoves down now through narratives of people who are
• 48:01
  Speaker 4: genuinely unrelatable. Like, don't get me wrong, not all of
• 48:05
  Speaker 4: us are going to become multimillion dollar tech founders and
• 48:08
  Speaker 4: you see their stories like, yeah, I get why that's unrelatable,
• 48:11
  Speaker 4: but sorry, we have a twenty seven year old from
• 48:14
  Speaker 4: Melbourne who didn't come from wealth, who is creating it herself.
• 48:17
  Speaker 4: That is iconic.
• 48:18
  Speaker 2: Thank you, thank you.
• 48:20
  Speaker 4: I love it all right. I wish we had more
• 48:22
  Speaker 4: time together, but alas we do not. Thank you so much.
• 48:25
  Speaker 4: I just can't wait for their community to get their
• 48:27
  Speaker 4: little hands on this episode because they're going to love it.
• 48:29
  Speaker 4: As much as I did.
• 48:30
  Speaker 2: Thank you so much for having me.
• 48:38
  Speaker 6: The advice shared on She's on the Money is generally
• 48:41
  Speaker 6: nature and does not consider your individual circumstances. She's on
• 48:45
  Speaker 6: the Money exists purely for educational purposes and should not
• 48:48
  Speaker 6: be relied upon to make an investment or financial decision.
• 48:52
  Speaker 4: If you do choose to buy a financial.
• 48:53
  Speaker 6: Product, read the PDS TMD and obtain appropriate financial advice.
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  Speaker 4: Tailored towards your needs.
• 48:59
  Speaker 6: Victor, Maria Divine and Sheese on the Money are authorized
• 49:02
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  Speaker 6: A b N three two one six four nine two
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  Speaker 6: one two eight nine