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How She Went From Centrelink to $100k Investment Portfolio and Multiple Properties · She's On The Money

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  Speaker 1: My name's Tatasha 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 Niana,
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  Speaker 1: kaka ya ya beIN ah Waka Nian our gay In
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  Speaker 1: Mbina yakarum jar Dominyamka Domaga Ithawakaman damon imlan Bumba ban
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  Speaker 1: Gadabomba in and now in wakah ghana on yak rum
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  Speaker 1: jar Watnadaa. Hello, beautiful friends, we gather on the lands
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  Speaker 1: of the Aboriginal people. We thank acknowledge and respect the
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  Speaker 1: Abiginal people's land that we're gathering on today. Take pleasure
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  Speaker 1: 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 episodes where I get the absolute
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  Speaker 4: pleasure of sitting down with one of our community members
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  Speaker 4: and talking all about their journey let's jump straight into it,
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  Speaker 4: because this week I got a message and it sounded
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  Speaker 4: exactly like this, dear, she's on the money. I grew
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  Speaker 4: up with parents on Scentlink, in a household constantly on
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  Speaker 4: a budget, where credit cards and their debt were the norm.
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  Speaker 4: I worked three jobs to put myself through university as
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  Speaker 4: I had to move three hours away to a major
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  Speaker 4: capital city. By doing this, I am proud to say
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  Speaker 4: I broke the cycle of welfare with education. I now
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  Speaker 4: earn one hundred and forty thousand dollars a year as
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  Speaker 4: a teacher. I have two hundred and forty thousand dollars
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  Speaker 4: in superannuation, a one hundred and ten ten thousand dollars
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  Speaker 4: in shares, and two properties with my husband, and I
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  Speaker 4: am currently on maternity leave with my second daughter. Despite
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  Speaker 4: what we've achieved, my husband and I still have a
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  Speaker 4: scarcity mindset with money, but we're working together to ensure
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  Speaker 4: that our daughters have the best life possible. If I
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  Speaker 4: can get to this place, anyone can money.
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  Speaker 2: Naris, I'm so excited about this. Thank you. I'm excited
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  Speaker 2: to hearing it back, like, Wow, that's pretty impressive and
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  Speaker 2: you're thirty four, Like, look, what you've done. What do
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  Speaker 2: your parents think of this? Well, that's actually interesting because
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  Speaker 2: my mom I can't talk to her about money. She
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  Speaker 2: gets really she feels like we're judging her if we
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  Speaker 2: ever bring up money, or that we live differently to
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  Speaker 2: how she lived, So I can't share a lot of
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  Speaker 2: my money wins with her, which is really sad.
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  Speaker 4: Actually, yeah, I'm sorry that's the case, but that's one
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  Speaker 4: of the reasons I ask, because I think your parents
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  Speaker 4: are probably insanely proud of you, like insanely so, but
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  Speaker 4: the reality is it can be quite confronting when you're
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  Speaker 4: child kind of overtakes you. Yes, yeah, and you see
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  Speaker 4: this a lot where and like, that's not how you
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  Speaker 4: see it. I know you don't see it that way,
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  Speaker 4: but like parents, I think, inherently, and this is probably
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  Speaker 4: because she cares so much about you, inherently want to
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  Speaker 4: give their kids better than they had, and then when
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  Speaker 4: they realize that you've had to create that on your own,
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  Speaker 4: they kind of don't like hearing about it because it
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  Speaker 4: feels confrontational.
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  Speaker 2: Yeah, you've totally hit the nail on the head. It
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  Speaker 2: does feel confrontational for her, and she is still struggling.
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  Speaker 2: No it's not like you're not going, oh, look what
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  Speaker 2: we've done. It's like, I'm so proud of myself exactly exactly.
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  Speaker 2: So before we get any further, I want to know
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  Speaker 2: what grade would you give your money habits from A
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  Speaker 2: through to F. If I asked you to give them
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  Speaker 2: a grade, I'm going to say an amnus. I think
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  Speaker 2: we're doing very well, but we're not a plus. You
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  Speaker 2: know what. We'll get to that.
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  Speaker 4: But like hearing your letter in, I'm like, oh, this
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  Speaker 4: is going to be so good and so motivating, because
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  Speaker 4: you know, we share money diaries all across the board,
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  Speaker 4: from people who are living on centralink to people who millionaires,
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  Speaker 4: and I feel so grateful to be able to share
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  Speaker 4: those stories. But sometimes you just want one that you
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  Speaker 4: go that could easily be me, Like I could do that, because,
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  Speaker 4: like you know, not all of us are willing to
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  Speaker 4: move to San Francisco for a tech job, like that's
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  Speaker 4: probably too much, but you know what we could do
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  Speaker 4: go back to university in our own country. So I
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  Speaker 4: want to know before we get any further, talk to me,
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  Speaker 4: what's your money story look like?
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  Speaker 2: Well, I suppose it definitely starts with my parents, which
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  Speaker 2: is they were on Centerlink when I was growing up,
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  Speaker 2: and money was very very tight. It was a constant budget.
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  Speaker 2: My mom had envelopes with all of our weekly spendings
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  Speaker 2: on the envelopes. See that's good. That's a good system.
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  Speaker 2: It was a great system. But it was like, you know,
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  Speaker 2: if there's no money in this envelope, we don't have
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  Speaker 2: money to be able to buy new clothes, buy new books,
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  Speaker 2: buy the food that I maybe wanted. So it definitely
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  Speaker 2: taught me the value of a dollar and the ability budget.
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  Speaker 2: But money was definitely really tight. I did actually go
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  Speaker 2: to a private school, but I went on scholarship and
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  Speaker 2: that really turned it around. So I guess I kind
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  Speaker 2: of had like two I could see how life could
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  Speaker 2: be if my parents had money because I was around
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  Speaker 2: affluent students, like my peers were very affluent. They came
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  Speaker 2: from very well background, and I felt a little bit
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  Speaker 2: isolated and alienated that I didn't have that.
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  Speaker 4: Yeah, I went to a Catholic school, which is kind
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  Speaker 4: of like I guess the middle ground of like a
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  Speaker 4: public and a private school. Like growing up, we definitely
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  Speaker 4: didn't have the cash for me to be going to
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  Speaker 4: a private school, So like Catholic school was perfect.
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  Speaker 2: It did the job.
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  Speaker 4: But because of the location I was in, there was
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  Speaker 4: lots of affluent people at my school, and it was
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  Speaker 4: I found it really confronting. Like there's me who you know,
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  Speaker 4: I'm saving up and hopefully one day I would be
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  Speaker 4: able to buy my very first car, and like they're
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  Speaker 4: being gifted BMW's for their sixteenth birth day. And I
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  Speaker 4: remember just like obviously not wanting the same, but just
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  Speaker 4: being mind blown that that would even be a thing.
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  Speaker 2: I agree, and that people had that extra cash that
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  Speaker 2: they could buy their child a car, or they could
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  Speaker 2: go in a European holiday. It just blew my mind
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  Speaker 2: that that's how some people lived.
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  Speaker 4: Yeah, I remember, and this is me diving into mine,
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  Speaker 4: And I'm sorry for taking your money, Darve, but I
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  Speaker 4: feel like this maybe you'll pull more of yours out.
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  Speaker 4: I remember, like, you know, being early teenage years, you know,
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  Speaker 4: at this school, going to friends' houses and being like,
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  Speaker 4: oh wow, you basically live in like a two story mansion,
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  Speaker 4: and like, when you're the younger teen, the wealth disparity
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  Speaker 4: isn't that obvious because you're like twelve, thirteen, fourteen, you're
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  Speaker 4: kind of into Hillary Duff together.
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  Speaker 2: Yep, we're all singing into our microphone, hair phone.
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  Speaker 4: One hundred percent, and then like you start to talk
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  Speaker 4: about cars and stuff like that because you're sixteen and
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  Speaker 4: you're getting your learners, and like that's where things start
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  Speaker 4: to like go differently. I don't know if you did
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  Speaker 4: the Debutante ball, but we had that and I remember
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  Speaker 4: that was like financially, remember being like I made my dress.
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  Speaker 4: That was what we could afford and what made sense.
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  Speaker 4: But I remember all the girls talking about the local
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  Speaker 4: bridal boutique that did it, and I was like, that
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  Speaker 4: would never be me anyway.
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  Speaker 2: Is that similar? That is so like you've hit the
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  Speaker 2: nail on the head with that. And even like people
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  Speaker 2: had double doors, like fridges, double doors. Oh my god.
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  Speaker 4: I was saying this to the team the other day.
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  Speaker 4: We should do a thread in our Facebook group of
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  Speaker 4: like what are signs that you're rich? But I was like,
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  Speaker 4: I don't know how to word it, so people take
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  Speaker 4: me for what it is, not for like, what are
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  Speaker 4: signs you rich?
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  Speaker 2: You've got money? No? No, no, you.
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  Speaker 4: Had to me if you had the French doors on
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  Speaker 4: your fridge, if your fridge wasn't white, yes, you know
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  Speaker 4: those people that had the water machine or the front
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  Speaker 4: of the fridge or the ice rich.
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  Speaker 2: Oh my gosh, I just so envious, so envious of that. Rich.
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  Speaker 4: Yeah, what do you mean you have not home brand
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  Speaker 4: tomato sauce bridge yep?
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  Speaker 2: Literally, or like you don't have to go to the
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  Speaker 2: local bakery when they've like thrown out their pies and like,
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  Speaker 2: get it through. We're not all going down at six thirty. Oh,
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  Speaker 2: that's so weird, weird, so weird.
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  Speaker 4: Yeah, And like I was grateful, Like, don't get me wrong,
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  Speaker 4: Like my parents weren't on Centerlink. I feel like I
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  Speaker 4: might have had that like slight step up. We're definitely
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  Speaker 4: middle class, but like I feel like there's just so
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  Speaker 4: many wealth indicators that kids see. You're like, oh, you've
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  Speaker 4: got electric windows in your car, rich.
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  Speaker 2: Yeah, look at me winding it down with my big arm.
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  Speaker 4: Yeah.
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  Speaker 2: Right, So tell me more about that.
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  Speaker 4: Growing up going to a private school, it's obviously like
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  Speaker 4: a very stuck contrast.
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  Speaker 2: But what happened at the end of high school. At
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  Speaker 2: the end of high school, I got into A and
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  Speaker 2: U and I was like, yay, I get to move
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  Speaker 2: to Canberra. I get to go and meet some new friends,
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  Speaker 2: and I, you know, hopefully get to change the trajectory
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  Speaker 2: of my life and get out of this this welfare cycle.
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  Speaker 2: And so I did, but that came with hardship financially
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  Speaker 2: because I was obviously moving three hours away from home.
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  Speaker 2: I was living in a rental accommodation on campus. I
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  Speaker 2: had two jobs when I was doing my HSC, so
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  Speaker 2: I was able to save quite a bit of savings
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  Speaker 2: and squirrel that away so I didn't have to work
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  Speaker 2: for the first six months of UNI.
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  Speaker 4: How did you know, Sorry, if we go back, like, yes,
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  Speaker 4: you got to go to a private school, But at
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  Speaker 4: what point were you like, Okay, I can see both
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  Speaker 4: of my parents are on standlink and I can finally
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  Speaker 4: see that that's not what I want for me. How
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  Speaker 4: old were you at that point? Because I feel like
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  Speaker 4: some of us just go, well, that's the way life is.
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  Speaker 2: Yeah. And being a teacher now, I see some students
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  Speaker 2: that had that mentality that they're like, oh, well, my
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  Speaker 2: parents are on centlink. I'll just get that. But I
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  Speaker 2: think I was probably about maybe thirteen or fourteen when
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  Speaker 2: I started at my first job, which was at a cafe.
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  Speaker 2: I saw that I could buy things that I wanted,
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  Speaker 2: or I could Yeah, save up for things that my
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  Speaker 2: parents wouldn't be able to afford on their Center Link payments.
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  Speaker 2: So I just was like, well, you know, life's expensive,
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  Speaker 2: and I want more for my life. I want to
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  Speaker 2: be comfortable. I want to be able to buy a house,
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  Speaker 2: and I don't want this for my children. That was
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  Speaker 2: really big for me, Like, I want to be providing
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  Speaker 2: a good role model to my future children, and you've
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  Speaker 2: done that. How cool is that? A baby? You would
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  Speaker 2: be so proud. She would be she'd be over the moon. Oh,
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  Speaker 2: she'd be stoked.
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  Speaker 4: So you know, you moved to camera, you didn't have
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  Speaker 4: to work for the first six months.
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  Speaker 2: What happens next? Then I was like, oh my gosh,
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  Speaker 2: I have no money. I've been partying too hard. I've
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  Speaker 2: had too many vodka raspberries. I need to Reina back
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  Speaker 2: in and I need to be able to pay my
• 10:39
  Speaker 2: rent and still have a lifestyle. So I got a
• 10:43
  Speaker 2: really fabulous job at like a Tatasol's. I was selling
• 10:46
  Speaker 2: lotto tickets and I actually sold a ten million dollar
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  Speaker 2: winning powerball ticket. Oh my god, ten million dollars. It
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  Speaker 2: was ten million dollars. Yeah, it was crazy, And did
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  Speaker 2: you go that was that guy? And then he came
• 10:58
  Speaker 2: back in or like what happens there. He wrote a letter.
• 11:01
  Speaker 2: It was obviously an older person because they wanted to
• 11:04
  Speaker 2: remain anonymous, but you could tell with the writing that
• 11:06
  Speaker 2: it was an older person, and they thanked us for
• 11:10
  Speaker 2: selling them the ticket. They described who the person that
• 11:12
  Speaker 2: sold the ticket, and they gave us I think it
• 11:14
  Speaker 2: was one thousand dollars and we just shared it amongst
• 11:16
  Speaker 2: everyone who worked there. So that was really really kind
• 11:19
  Speaker 2: of them.
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  Speaker 4: That's so wild. But I'm always girl, I'm she's on
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  Speaker 4: the money. I need to know who won. I know
• 11:26
  Speaker 4: what did they do with their winning? You know, I
• 11:27
  Speaker 4: just need to know.
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  Speaker 2: Ten million dollars is not just a lot of money.
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  Speaker 2: That's like a life trajectory amount of money. That's insane
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  Speaker 2: to me. I agree, But in saying that, I think
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  Speaker 2: that that job really taught me a bit about money too,
• 11:39
  Speaker 2: because some people who actually won or got like second
• 11:42
  Speaker 2: division or there was a first division winner. He actually
• 11:45
  Speaker 2: kept like gambling and he used all of his earnings
• 11:48
  Speaker 2: because he was like chasing that high. He wanted to
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  Speaker 2: win again. And it was really sad to see all
• 11:54
  Speaker 2: the same people coming in every week spending hundreds of
• 11:57
  Speaker 2: dollars on money that they were just kind of throwing
• 12:00
  Speaker 2: down the drain. So that was interesting.
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  Speaker 4: Research actually tells us that you significantly increase your probability
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  Speaker 4: of going broke if you win.
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  Speaker 2: Yeah. It's crazy, isn't them because you think it would
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  Speaker 2: be the opposite.
• 12:11
  Speaker 4: Yeah, it's actually crazy. You would think that it would
• 12:13
  Speaker 4: change the trajectory of your life. But I think that
• 12:16
  Speaker 4: goes back to that quote, which I've said a million
• 12:18
  Speaker 4: times and is it not my quote?
• 12:20
  Speaker 2: I stole this from the internet. But like, if you.
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  Speaker 4: Can't manage one hundred dollars, you can't manage ten thousand dollars,
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  Speaker 4: And like, that's just it. It's these people who arguably you
• 12:29
  Speaker 4: saw it, they can't actually manage money. They're not very
• 12:31
  Speaker 4: good at it. They're spending a lot of money on
• 12:34
  Speaker 4: the pokes basically, and then they win ten million dollars.
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  Speaker 4: They don't know what to do with that responsibly, and
• 12:40
  Speaker 4: they go, well, I could win more, it's still fun.
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  Speaker 2: Yeah, and so then they just squander it all, which
• 12:45
  Speaker 2: is crazy. My goodness. So that taught you a lot
• 12:47
  Speaker 2: about money. Yeah, So got that job, but then I
• 12:51
  Speaker 2: ended up getting two other jobs, so I had three
• 12:53
  Speaker 2: jobs while doing UNI, which was wild and full time UNI.
• 12:57
  Speaker 4: I should say, oh, I did the same thing, and
• 12:59
  Speaker 4: now that I look, I'm also thirty four.
• 13:01
  Speaker 2: I look back at it and I just go, how
• 13:04
  Speaker 2: did you have the time?
• 13:05
  Speaker 4: Like last night, I had to be in bed by
• 13:07
  Speaker 4: eight thirty, not because I had a time limit on me,
• 13:09
  Speaker 4: but because that's the time that I was crashing out
• 13:12
  Speaker 4: and I said to my husband, you finished this TV series,
• 13:14
  Speaker 4: I'll me in bed.
• 13:15
  Speaker 2: I'm so tight. Sorry.
• 13:17
  Speaker 4: I didn't leave the house sin til ten pm. Back then,
• 13:19
  Speaker 4: I wasn't coming home from working.
• 13:20
  Speaker 2: Till like eleven twelve. Like, what do you mean I
• 13:23
  Speaker 2: could function like that? It's wild. Youth is just wasted
• 13:27
  Speaker 2: on the youth is all I can say. I'm with
• 13:29
  Speaker 2: you on the eight thirty, especially having two children, I'm like,
• 13:32
  Speaker 2: they're in bed. I need to go to sleep. I'm exhausted. Yeah,
• 13:35
  Speaker 2: if my kid is up late, it's not Oh no,
• 13:37
  Speaker 2: like Harvey's not getting sleep. I'm thinking, dude, I'm meant
• 13:40
  Speaker 2: to be in bed. What are you doing? Yeah? Literally,
• 13:42
  Speaker 2: it's rude. If you're up past nine, that's sorry, that's
• 13:46
  Speaker 2: really late. Yeah, I'm like, what is this midnight on
• 13:49
  Speaker 2: a week night, No, that's school night literally, So long
• 13:53
  Speaker 2: story short, I worked my ass off and I put
• 13:56
  Speaker 2: myself through UNI, including placements.
• 13:59
  Speaker 4: And you don't get for teaching placements, which one rude,
• 14:03
  Speaker 4: but two like you would have had to work your
• 14:04
  Speaker 4: butt off to then be able to afford the time
• 14:06
  Speaker 4: for those.
• 14:07
  Speaker 2: Yeah, and I had to save up enough to be
• 14:09
  Speaker 2: able to still cover my rent and my food. And
• 14:11
  Speaker 2: I worked on the weekends as well, so I was teaching,
• 14:14
  Speaker 2: like doing my placement all through the week, and then
• 14:16
  Speaker 2: on the weekends I'd be working at my normal jobs
• 14:18
  Speaker 2: as well, an icon.
• 14:19
  Speaker 4: And then you finish ally placements and you get to
• 14:21
  Speaker 4: become a teacher. Tell me what was your first job where?
• 14:24
  Speaker 2: When?
• 14:24
  Speaker 4: Not like not actually where, but like what kind of
• 14:27
  Speaker 4: teaching role did you land?
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  Speaker 2: I am qualified in English and hissing teaching. So I
• 14:34
  Speaker 2: started my teaching in a small country town in New
• 14:37
  Speaker 2: South Wales and I was there for a year and
• 14:41
  Speaker 2: a little bit and then I ended up moving back
• 14:43
  Speaker 2: to Canberra and I got a permanent job there and
• 14:48
  Speaker 2: I've just been teaching for I think this is my
• 14:51
  Speaker 2: twelfth twelfth year now, and I'm now a coordinator. I
• 14:56
  Speaker 2: look after a lot of kids and there will be,
• 15:00
  Speaker 2: which is pretty cool.
• 15:01
  Speaker 4: Of course you do. You're just a good human doing
• 15:03
  Speaker 4: good things. I love this so much. Tell me a
• 15:07
  Speaker 4: little bit more. You've met your husband?
• 15:09
  Speaker 2: I did when where? Like, how do we meet a
• 15:12
  Speaker 2: husband in I don't know when? Well, we actually met
• 15:15
  Speaker 2: on Tinder?
• 15:15
  Speaker 4: Oh my god, I met my husband on Tinder? Biggest fan?
• 15:17
  Speaker 4: Were you really embarrassed of that too at the start?
• 15:20
  Speaker 4: So you'd be like, oh, no, I do, don't now,
• 15:21
  Speaker 4: I'll just tell everyone.
• 15:22
  Speaker 2: But like, and it came out at our wedding, like
• 15:24
  Speaker 2: at our wedding speech. Oh, I like me too. And
• 15:28
  Speaker 2: it wasn't even Steve or I. It was our wedding celebrant. Oh.
• 15:32
  Speaker 4: She made this comment about like they both swiped right
• 15:35
  Speaker 4: and it was love or something, and both Steve and
• 15:38
  Speaker 4: I like, we're standing at the end of the aisle
• 15:39
  Speaker 4: kind of looking at each other because we'd told family
• 15:42
  Speaker 4: that we'd met through friends, you know, just three friends.
• 15:45
  Speaker 4: We've met three friends, and so later Mom's like, what
• 15:47
  Speaker 4: do you mean? Because like later she made a comment
• 15:50
  Speaker 4: as well, because we had the same wedding celebrant be
• 15:53
  Speaker 4: our EMC, and she made a comment about me looking
• 15:56
  Speaker 4: like the perfect Tinderella.
• 15:57
  Speaker 2: We like, just simmer down, girlfriend, Like, stop with the jokes.
• 16:01
  Speaker 2: I was like, I don't lie about much. But it
• 16:03
  Speaker 2: turns out what I have lied about is coming out
• 16:05
  Speaker 2: at my own wedding. I feel like it's a lot
• 16:08
  Speaker 2: of people our age that was very embarrassed about meeting
• 16:12
  Speaker 2: people online. Well, when we met through friends, it was
• 16:15
  Speaker 2: you who introduced Steve and I and I introduced you
• 16:18
  Speaker 2: and your partner. Yet yep, that's exactly what happened the
• 16:21
  Speaker 2: MC she got it wrong. Yeah, exactly wrong. So you
• 16:23
  Speaker 2: met your pathna on Tinder. How long have you been together?
• 16:26
  Speaker 2: We have been together for almost ten years. Actually, oh
• 16:29
  Speaker 2: my goodness, same as Steve and I. So cute. My gosh,
• 16:34
  Speaker 2: this is weird. And we've been married for like I
• 16:36
  Speaker 2: think four four years are very cute.
• 16:40
  Speaker 4: So tell me a bit more about like the money
• 16:43
  Speaker 4: side of things, because now you're an adult, you've got
• 16:44
  Speaker 4: an adult salary, you now have a husband, you're married.
• 16:48
  Speaker 4: How are we managing money as a couple, Like, what
• 16:50
  Speaker 4: does that actually look like?
• 16:52
  Speaker 2: So we somewhat combine our finances but somewhat keep them
• 16:57
  Speaker 2: separate because where both parents have divorced as well, which
• 17:01
  Speaker 2: adds kind of a layer of complexity with our money stories.
• 17:05
  Speaker 2: I feel because I have seen my mom go through
• 17:09
  Speaker 2: a horrible divorce and she lost so much money, so
• 17:13
  Speaker 2: she lost her super as well. So I've said to
• 17:16
  Speaker 2: my husband, like, obviously, I'm not planning to divorce you
• 17:19
  Speaker 2: at any point in time, but I want to make
• 17:20
  Speaker 2: sure that there's a safety net for me.
• 17:22
  Speaker 4: I want to, like, if for some reason, you go
• 17:25
  Speaker 4: to a Coldplay concert, I need to be able to
• 17:27
  Speaker 4: kick you out of.
• 17:28
  Speaker 2: The house totally. Like I want to have financial options
• 17:31
  Speaker 2: and financial security. So we have some joint accounts, but
• 17:36
  Speaker 2: we still have our own personal accounts as well, but
• 17:40
  Speaker 2: having two children, two morgages, like, obviously we can't keep
• 17:44
  Speaker 2: things super duper separate, but there is a real delineation
• 17:48
  Speaker 2: as well, so I know what is my savings and
• 17:50
  Speaker 2: what is his savings, and if anything were to happen,
• 17:53
  Speaker 2: we would know how to, you know, part ways amicably
• 17:56
  Speaker 2: with that.
• 17:57
  Speaker 4: That sounds honestly ex Financial Advisor music to my ears,
• 18:02
  Speaker 4: Like it just sounds so sexy, like just the idea
• 18:05
  Speaker 4: that you're like, oh, like we do it altogether. Life
• 18:08
  Speaker 4: is together, but like I'm financially secure in my own
• 18:10
  Speaker 4: right and if I.
• 18:11
  Speaker 2: Wanted to, like, you know what, and it sounds morbid, right,
• 18:13
  Speaker 2: but if you wanted to walk out, you could, Yeah, totally.
• 18:15
  Speaker 4: It's not the finances that are going to stop you.
• 18:17
  Speaker 4: It's the fact that your bloody's still in love with him,
• 18:19
  Speaker 4: damn it.
• 18:21
  Speaker 2: The thing that I feel that you'll be very proud
• 18:23
  Speaker 2: of me was when I went on my first maternity leave,
• 18:25
  Speaker 2: I said to my husband, I'm not paying for anything
• 18:29
  Speaker 2: like that's on you. And all of my maternity pay
• 18:32
  Speaker 2: is going to go into my super and my shares
• 18:35
  Speaker 2: because I'm taking my back burner with my career for
• 18:40
  Speaker 2: you know, this period of time, and I don't want
• 18:42
  Speaker 2: to be negatively impacted. So that was a big thing
• 18:44
  Speaker 2: for me.
• 18:45
  Speaker 4: I love you so much. This makes me so happy.
• 18:48
  Speaker 4: Tell me you're a coordinator and a teacher. How much
• 18:52
  Speaker 4: money do you earn?
• 18:53
  Speaker 2: I earn roughly one hundred and forty thousand pre tax,
• 18:57
  Speaker 2: but they've actually just put through a new enterprise agreement,
• 19:01
  Speaker 2: so I think it will be going up slightly. But
• 19:04
  Speaker 2: because I'm on maternity leave, I'm not exactly sure what
• 19:06
  Speaker 2: that looks like.
• 19:07
  Speaker 4: Yeah, I know, because you wouldn't have been a part
• 19:09
  Speaker 4: of all the meetings and stuff. Do you get SUPER
• 19:11
  Speaker 4: on top of that or is that included in your
• 19:13
  Speaker 4: one forty that is on top of it?
• 19:15
  Speaker 2: Oh? Very nice?
• 19:17
  Speaker 4: And like, is that how you've earned so much in Super?
• 19:20
  Speaker 4: Because you have two hundred and forty thousand dollars in Super? Girlfriend,
• 19:23
  Speaker 4: have you been doing like lots of additional contributions or yes?
• 19:27
  Speaker 2: So I guess this is kind of going down the
• 19:29
  Speaker 2: line a little bit. But I know that you're going
• 19:31
  Speaker 2: to ask me what my best money habit is. Don't
• 19:34
  Speaker 2: spoil it. I've got a structure, I know, but this
• 19:37
  Speaker 2: is my best spending habit. Yeah, yea, yea. My best
• 19:40
  Speaker 2: money habit was after I paid off my hex stet,
• 19:43
  Speaker 2: I didn't cancel the payments coming out from my employer
• 19:46
  Speaker 2: pulling out the payments for my HEX and so the
• 19:50
  Speaker 2: next financial year I got a massive lump sum. I
• 19:52
  Speaker 2: think it was like sixteen thousand dollars or something, and
• 19:55
  Speaker 2: I actually put that to the side, and then I
• 19:56
  Speaker 2: started doing voluntary super contributions and both my husband and
• 20:01
  Speaker 2: I have maxed out our SUPER contributions for the last
• 20:04
  Speaker 2: I want to say, five years, so we don't have
• 20:09
  Speaker 2: anything for next year except for the next financial year
• 20:12
  Speaker 2: because we've done everything that we can. Where did you
• 20:15
  Speaker 2: learn this? You and my husband, he's very financially literate.
• 20:19
  Speaker 2: I'm very lucky. Yeah, you said.
• 20:21
  Speaker 4: Look, I grew up in a Centerlink family, and like, yes,
• 20:25
  Speaker 4: I think we all want better for ourselves, but to
• 20:27
  Speaker 4: not only get better, to not only go to university,
• 20:29
  Speaker 4: but to have this level of financial literacy, Like girl,
• 20:32
  Speaker 4: what you are changing the world?
• 20:34
  Speaker 2: Oh? Thank you. I am very passionate about especially SUPER
• 20:38
  Speaker 2: contributions for females that are taking MATT leave. And when
• 20:42
  Speaker 2: I was going through my little notes for preparing for this,
• 20:46
  Speaker 2: I worked out how much my SUPER jumped. In twenty
• 20:49
  Speaker 2: twenty two, I had one hundred thousand dollars in SUPER,
• 20:52
  Speaker 2: and so in twenty twenty five, I have two hundred
• 20:55
  Speaker 2: and forty three thousand. Stop it, I'm maxing it out.
• 20:58
  Speaker 4: So when she says she's maxing out, Superannuation has a
• 21:01
  Speaker 4: contribution cap right now of thirty thousand dollars a year,
• 21:05
  Speaker 4: it's that just your contributions of thirty grand a year
• 21:08
  Speaker 4: plus compound interest.
• 21:10
  Speaker 2: Yeah, and it's roughly about fifty thousand in compound interests.
• 21:13
  Speaker 2: So I just wanted to like share that with people
• 21:15
  Speaker 2: because I think, you go, oh my god, it's so
• 21:18
  Speaker 2: hard to get to that first hundred thousand, but it
• 21:20
  Speaker 2: really does snowball.
• 21:21
  Speaker 4: Yeah, and this is going to sound to a lot
• 21:23
  Speaker 4: of people who are just not at that spot yet.
• 21:26
  Speaker 4: Your first hundred thousand, when we're creating wealth is the hardest,
• 21:30
  Speaker 4: like whether that is the first hundred thousand for your
• 21:32
  Speaker 4: home deposit or your investments, Like, and it sounds because
• 21:35
  Speaker 4: like people like but Va, I don't even have a thousand.
• 21:38
  Speaker 2: I get it.
• 21:38
  Speaker 4: We're in the middle of a cost of living crisis.
• 21:40
  Speaker 4: So like, don't think I'm being insensitive. But the second
• 21:43
  Speaker 4: you hit that, it's kind of like genuinely, the snowball
• 21:47
  Speaker 4: effects starts to really compound. It's not because you have
• 21:50
  Speaker 4: more money to contribute, it's because that one hundred thousand
• 21:53
  Speaker 4: dollars ten percent return is ten grand.
• 21:55
  Speaker 2: Yeah, like that starts to become really powerful. It does.
• 21:59
  Speaker 2: It really does. So yeah, that's why I wanted to
• 22:02
  Speaker 2: really share those numbers because for me, I was like,
• 22:04
  Speaker 2: oh my god, I'm never going to get to this
• 22:05
  Speaker 2: one hundred grand, Like it took so long, and now
• 22:08
  Speaker 2: I'm really seeing the benefits.
• 22:10
  Speaker 4: She's going to be worth millions when she retires. Guys,
• 22:12
  Speaker 4: it's lucky. She's anonymous, Like, it's lucky. So what are
• 22:17
  Speaker 4: your big money goals? You said in passing that you
• 22:20
  Speaker 4: have two mortgages, you've obviously got a really good salary,
• 22:22
  Speaker 4: you've got soupy, you've got shares, Like, what are your
• 22:25
  Speaker 4: big money goals? What are you currently working towards?
• 22:27
  Speaker 2: Well, we are a little bit unsure about our long
• 22:32
  Speaker 2: term primary property because we've got two little girls and
• 22:36
  Speaker 2: we're hoping to have a third one day, so it's
• 22:40
  Speaker 2: a bit exciting, but we're like, oh my gosh, our
• 22:43
  Speaker 2: house is too small because we bought the worst house
• 22:46
  Speaker 2: in a best location to have a lower mortgage while
• 22:51
  Speaker 2: I was on maternity leave. So now we're tossing up
• 22:53
  Speaker 2: whether we're going to potentially save up and get some
• 22:57
  Speaker 2: acreage and get a bigger house that way, or whether
• 23:00
  Speaker 2: we're going to do a renovation on our investment property
• 23:04
  Speaker 2: because it's a beautiful old house, like it's a nineteen
• 23:06
  Speaker 2: ten's house and we can put a big renovation out
• 23:09
  Speaker 2: of the back and have this beautiful family home. So
• 23:11
  Speaker 2: that's kind of what we're thinking about.
• 23:14
  Speaker 4: Yeah, and it's a hard decision to make as well,
• 23:16
  Speaker 4: because at that point, and at this point in the market,
• 23:20
  Speaker 4: renovating's really expensive. Acreage is also really expensive. But we're
• 23:24
  Speaker 4: also talking about your family home, not an investment, so
• 23:26
  Speaker 4: it's then seen as a different thing again. And it's
• 23:29
  Speaker 4: kind of like, you know, not going to be flippant
• 23:32
  Speaker 4: with money, but like if you spend a couple of
• 23:34
  Speaker 4: hundred thousand dollars more and you get exactly what you want,
• 23:37
  Speaker 4: but it's for your.
• 23:38
  Speaker 2: Life, it's worth it.
• 23:39
  Speaker 4: It's worth it. Yeah, it's a hard thing. It's a
• 23:43
  Speaker 4: very hard thing to do.
• 23:44
  Speaker 2: And I guess personally as well, I'm hoping to hit
• 23:47
  Speaker 2: that two hundred thousand dollars share portfolio probably in like
• 23:51
  Speaker 2: three years time. I'm hoping, maybe, I have no doubt.
• 23:55
  Speaker 2: I have no doubt. I can't wait.
• 23:56
  Speaker 4: All right, let's go to a really quick break because girl,
• 23:59
  Speaker 4: I have a lot of questions about your superannuation. I
• 24:01
  Speaker 4: need to know so much more about your share portfolio.
• 24:04
  Speaker 4: And I mean, I would say we're getting to your
• 24:06
  Speaker 4: best and worst money habits, but we're only going to
• 24:08
  Speaker 4: get to your worst because you already shared your best.
• 24:10
  Speaker 4: So guys, don't go anywhere money darist. We are back
• 24:18
  Speaker 4: and this chat. I feel like you and I are
• 24:19
  Speaker 4: two peas in a pod. Like we are quite similar
• 24:22
  Speaker 4: in terms of like upbringing out values, what we're doing,
• 24:25
  Speaker 4: and the fact that we both love the share market.
• 24:27
  Speaker 4: You have two hundred and forty thousand dollars in your
• 24:30
  Speaker 4: superannuation and you have one hundred and ten thousand dollars
• 24:34
  Speaker 4: in a share portfolio. I want to know how did
• 24:37
  Speaker 4: you start investing when we're why just all of the
• 24:39
  Speaker 4: dirty details.
• 24:41
  Speaker 2: I started investing after listening to your podcast series on
• 24:45
  Speaker 2: investing stop it. Yeah. Literally, I thought you were going
• 24:48
  Speaker 2: to say, oh, my husband like set me up and
• 24:51
  Speaker 2: he was trying to do for years, years And he's like,
• 24:54
  Speaker 2: you listen to Victoria like once and then you're setting
• 24:57
  Speaker 2: up a comseck account like I've been trying to get
• 24:59
  Speaker 2: you to invest for year. And I was like, well,
• 25:00
  Speaker 2: she just knows what she's talking about.
• 25:02
  Speaker 4: Well, it's not even that I know what I'm talking about.
• 25:03
  Speaker 4: I'm just a girl, ye Like, and if I can
• 25:05
  Speaker 4: do it, can't be that hard, right, And when your
• 25:08
  Speaker 4: husband says do it, it's probably complex.
• 25:12
  Speaker 2: Yeah, you gave me the kick up the butt and
• 25:14
  Speaker 2: I was like, okay, Like I've got some money sitting aside,
• 25:17
  Speaker 2: like let's do this, like let's see how it goes.
• 25:21
  Speaker 2: And then it got kind of addictive, I suppose. And
• 25:24
  Speaker 2: I was going through because when I was listening to
• 25:27
  Speaker 2: your podcast series about investing and about like short term
• 25:31
  Speaker 2: long term goals, I had a quick look back through them,
• 25:35
  Speaker 2: and you have my long term goal at the time.
• 25:37
  Speaker 2: This was in twenty twenty one. Stop it. This is
• 25:41
  Speaker 2: so cute. You've got like a diary in front of
• 25:43
  Speaker 2: you with your goals. I love it. So twenty twenty one,
• 25:46
  Speaker 2: what was the goal? So short term was to renovated
• 25:49
  Speaker 2: the bathroom that hasn't happened, which is quite hilarious because
• 25:52
  Speaker 2: midterm buying an investment property. We've done that. And to
• 25:55
  Speaker 2: have enough money for a year off to have a baby.
• 25:57
  Speaker 2: We've done that. And our long term goal was to
• 26:00
  Speaker 2: have one hundred k invested in ten years time in shares,
• 26:02
  Speaker 2: and I did that in three slightly.
• 26:05
  Speaker 4: How have you invested one hundred grand? I think you know,
• 26:10
  Speaker 4: for a lot of people earning one hundred and forty
• 26:12
  Speaker 4: thousand dollars is a very very good salary. But also
• 26:15
  Speaker 4: I know a lot of people earning one hundred and
• 26:17
  Speaker 4: forty thousand dollars who are still struggling to make ends meet.
• 26:20
  Speaker 4: I need to be a baby. What does your husband
• 26:22
  Speaker 4: do and what does he earn? So that you were,
• 26:25
  Speaker 4: you know, able to invest your money into the share
• 26:28
  Speaker 4: market and into your super while you're on matt Leve
• 26:30
  Speaker 4: and stuff like that.
• 26:31
  Speaker 2: He is an engineer and he earns about one hundred
• 26:35
  Speaker 2: and ninety thousand a year. So that's how I can
• 26:38
  Speaker 2: is because we.
• 26:39
  Speaker 4: Are no But like that's good transparency because I'm like, oh,
• 26:42
  Speaker 4: some people are going to ask questions. I'm even starting
• 26:45
  Speaker 4: to go, how were you able to do that? Because like,
• 26:47
  Speaker 4: you know, it's not life's not cheap but very sexy.
• 26:51
  Speaker 2: I love that.
• 26:52
  Speaker 4: And also, like you matched with an engineer on Tinder
• 26:54
  Speaker 4: money with I know, I was like so lucky. I
• 26:57
  Speaker 4: didn't match with an engineer. I matched with an and antrition.
• 27:01
  Speaker 2: Oh I don't even know what that is. I still
• 27:03
  Speaker 2: don't know what that means. Yeah, yeah, let's move on.
• 27:07
  Speaker 4: I just know he has like a number of maths degrees, the.
• 27:11
  Speaker 2: Same as my husband. He's very good at maths. I'm
• 27:13
  Speaker 2: like good because I am not.
• 27:16
  Speaker 4: You actually don't have to be good at maths to
• 27:18
  Speaker 4: be good at investing, so we win.
• 27:20
  Speaker 2: Yeah, totally.
• 27:22
  Speaker 4: So tell me a little bit more about this investment.
• 27:24
  Speaker 4: You went and you've got a comm Sec account, so
• 27:26
  Speaker 4: you've got your account.
• 27:28
  Speaker 2: What are you picking?
• 27:29
  Speaker 1: Like?
• 27:29
  Speaker 2: What ETFs have we got? Why did we pick them?
• 27:31
  Speaker 2: I began with picking individual shares because I was just
• 27:35
  Speaker 2: testing out the water to see, I guess how they worked.
• 27:40
  Speaker 2: So I do probably have about five individual shares like Telstra,
• 27:46
  Speaker 2: wor Worth, but a lot of my portfolio is Vanguard
• 27:50
  Speaker 2: and then Vanguard for ETFs. Yes, yeah, so most of
• 27:53
  Speaker 2: my portfolio are ETFs. But the one that I have
• 27:58
  Speaker 2: loved the most is my my morning Star wide Mote ETF.
• 28:04
  Speaker 2: I am obsessed with that. Why do we lack that one?
• 28:06
  Speaker 2: Fabulous dividends? Yeah, Like we love a good dividend pay out,
• 28:10
  Speaker 2: don't we? Yes? And I've definitely noticed a different since
• 28:13
  Speaker 2: having quite a lot of that in my portfolio as well.
• 28:16
  Speaker 4: I think when we start to invest in it can
• 28:18
  Speaker 4: be so overwhelming and like this just sounds like literally,
• 28:21
  Speaker 4: in the nicest way possible, the most stereotypical entry. You
• 28:25
  Speaker 4: kind of buy a couple of like individual shares and
• 28:28
  Speaker 4: you're like okay, Like Telstra, Woolies, Westpac. I feel comfortable
• 28:31
  Speaker 4: with those, you like track them for a bit. You
• 28:33
  Speaker 4: get comfortable with the idea of investing, and then you're like, oh,
• 28:36
  Speaker 4: I've heard of the ETF thing. I'm going to start
• 28:38
  Speaker 4: looking at ETF and then you probably get into like
• 28:40
  Speaker 4: analysis paralysis mode because you're like, all right, there's morning Star,
• 28:44
  Speaker 4: there's Beta shares, Oh my god, there's Vanguard.
• 28:47
  Speaker 2: What do I do?
• 28:47
  Speaker 4: And like then you probably I reckon it took you
• 28:50
  Speaker 4: a while between individuals and ETFs, and then you do
• 28:53
  Speaker 4: your first ETF and you do still a little bit.
• 28:55
  Speaker 2: Yes, I did, like a thousand dollars and now it's
• 28:57
  Speaker 2: like the biggest chunk of my portfolio. But the time
• 29:00
  Speaker 2: I was like, oh my god, this is so much money. Oh,
• 29:02
  Speaker 2: like a thousand dollars.
• 29:03
  Speaker 4: Yeah, and then you might buy a different ETF to
• 29:05
  Speaker 4: test that one out, and then you start to get favorites,
• 29:09
  Speaker 4: and that's where we start to get our power. You're like,
• 29:12
  Speaker 4: you actually, it's like you went to university, but I
• 29:15
  Speaker 4: can almost promise you've learned more about teaching on the job, haven't.
• 29:18
  Speaker 2: You, oh one hundred percent?
• 29:20
  Speaker 4: Yeah, yeah, So it's like investing, you need to kind
• 29:22
  Speaker 4: of like, yes, you can learn everything from my podcast
• 29:25
  Speaker 4: and read my books and do my masterclass, and you're
• 29:28
  Speaker 4: still going to have that analysis paralysis.
• 29:30
  Speaker 2: You need to pull the pin.
• 29:31
  Speaker 4: You need to start investing, because the second you get
• 29:33
  Speaker 4: that confidence.
• 29:34
  Speaker 2: You're like, oh, this is what it is. Okay, it's
• 29:36
  Speaker 2: not that bad.
• 29:37
  Speaker 4: And now you've got one hundred and ten thousand dollars
• 29:39
  Speaker 4: in shares. So most is your favorite, which is through
• 29:43
  Speaker 4: morning Star? What Vanguard ETFs have you picked?
• 29:48
  Speaker 2: I have multiple, I have that so Property, I have
• 29:52
  Speaker 2: vas SO Australian shares. I have VIDHG, which is the
• 29:56
  Speaker 2: diversified high growth. I love those and they've definitely as
• 30:01
  Speaker 2: you would know, like their dividends are pretty consistent as well.
• 30:04
  Speaker 4: Yeah, no, and we love to see it and they
• 30:06
  Speaker 4: think that that's a really good conversation opener on let's
• 30:10
  Speaker 4: not just look at the share price and how much
• 30:11
  Speaker 4: it goes up, like, let's look at what they pay
• 30:14
  Speaker 4: you to own that asset long term.
• 30:16
  Speaker 2: And are they franked or are they not framed? And yeah,
• 30:19
  Speaker 2: I've definitely noticed the dividends coming in because I haven't
• 30:22
  Speaker 2: actually put anything into my portfolio for probably about a
• 30:25
  Speaker 2: year and it's still going up. They're plotting a lot.
• 30:28
  Speaker 4: And that's where long term, most of your compound growth
• 30:31
  Speaker 4: is going to come from, is the dividends being reinvested.
• 30:34
  Speaker 4: And that's what I mean when I say the money
• 30:36
  Speaker 4: that your money makes starts making money, it's your dividends
• 30:39
  Speaker 4: being paid out that then get reinvested, and then that
• 30:42
  Speaker 4: pays out and it becomes a cycle, a cycle of
• 30:45
  Speaker 4: becoming rich.
• 30:46
  Speaker 2: And that's what we wants to a cycle of poverty exactly.
• 30:50
  Speaker 4: So now to flip the narrative, you own two properties,
• 30:53
  Speaker 4: talk to me about debt.
• 30:54
  Speaker 2: What do you have? How does it work? So we have,
• 30:57
  Speaker 2: obviously our two mortgagets. We got really lucky that our
• 31:01
  Speaker 2: first house was very, very reasonable. It was only three
• 31:04
  Speaker 2: hundred thousand dollars and we bought that with only a
• 31:09
  Speaker 2: ten percent deposit. And that's one thing that I really
• 31:11
  Speaker 2: wanted to stress I guess while on here, is that
• 31:14
  Speaker 2: LMI is not like the worst thing in the world
• 31:16
  Speaker 2: to have to have.
• 31:17
  Speaker 4: Oh my god, I just recorded in an episode about
• 31:19
  Speaker 4: getting into your first property, and it's basically me ranting
• 31:22
  Speaker 4: about how ELMI is fantastic.
• 31:24
  Speaker 2: Yeah, And like we just kind of tacked it onto
• 31:26
  Speaker 2: the end of our mortgage and we didn't notice it
• 31:28
  Speaker 2: at all, and we managed. We were getting into the
• 31:30
  Speaker 2: property market so much quicker by doing that. So I'm
• 31:33
  Speaker 2: a massive advocate for that. And we decided after I
• 31:37
  Speaker 2: had my first baby while I was on that leave,
• 31:40
  Speaker 2: we had our mortgage fully offset, so we weren't paying
• 31:42
  Speaker 2: any interest. Oh very nice, So hold on, hold on,
• 31:45
  Speaker 2: hold on, backtrack. That is a big deal.
• 31:48
  Speaker 4: You had a three hundred thousand dollars in savings between
• 31:51
  Speaker 4: you and your husband to be able to fully offset
• 31:53
  Speaker 4: your mortgage.
• 31:53
  Speaker 2: How we're very frugal. We're very very frugal. I love this.
• 31:59
  Speaker 4: I think I love this because wow, that's so unrelatable,
• 32:02
  Speaker 4: but coming from somebody so relatable, you've just built this yourself.
• 32:05
  Speaker 2: Like what did I con That's what I want to
• 32:07
  Speaker 2: stress to you, Like, my husband doesn't come from marriage,
• 32:09
  Speaker 2: that's from marriage from money, like both of us.
• 32:11
  Speaker 4: Yeah, he came from your marriage, Like you made that
• 32:13
  Speaker 4: man take credit for that.
• 32:14
  Speaker 2: Yeah he did. He did come from my marriage, but
• 32:16
  Speaker 2: not from money. So like we both worked for this.
• 32:20
  Speaker 2: It's not like we've been given anything on a platter.
• 32:23
  Speaker 2: We've literally just been slogging and like we don't go
• 32:26
  Speaker 2: on holidays, We don't spend down money on things that
• 32:30
  Speaker 2: we don't need. We were both driving, you know, ten
• 32:33
  Speaker 2: year old cars until recently we've just bought a new car.
• 32:36
  Speaker 2: But like, we are just saving every single penny.
• 32:39
  Speaker 4: I'm obsessed with that. That makes me so happy. So
• 32:42
  Speaker 4: two properties. Your first one was three hundred thousand dollars.
• 32:44
  Speaker 4: What do you currently owe on that property?
• 32:46
  Speaker 2: We currently owe two hundred and eleven thousand, but most
• 32:51
  Speaker 2: of that's offset.
• 32:52
  Speaker 4: Okay, so you've got a nice amount in savings and
• 32:55
  Speaker 4: before you said, you know, I know personally you've got
• 32:58
  Speaker 4: that share potfolio and your name, and then you've got
• 33:00
  Speaker 4: your two forty k in super this savings that is offset.
• 33:04
  Speaker 2: Is this like shared funds with your husband?
• 33:06
  Speaker 4: Yeah, so that's just like the shared account side of
• 33:08
  Speaker 4: things as opposed to the money Darst side of things.
• 33:11
  Speaker 2: Yes. Yeah, so this is our shared and we've only
• 33:14
  Speaker 2: got thirty six thousand dollars that's not offset red. I'm
• 33:20
  Speaker 2: pretty proud of that of like both of your mortgages.
• 33:23
  Speaker 2: Oh no, sorry, that's just our property. But we are
• 33:27
  Speaker 2: using our investment property for I guess taxable purposes, so
• 33:33
  Speaker 2: we're not offsetting that because we're using the interest as
• 33:37
  Speaker 2: a tax deduction.
• 33:38
  Speaker 4: Genius, So tell me what is that property now worth?
• 33:41
  Speaker 4: If you purchased it for three hundred thousand dollars.
• 33:43
  Speaker 2: It's probably just under seven hundred thousand. Stop it, you're
• 33:47
  Speaker 2: like full rich guys. We got in at the market
• 33:50
  Speaker 2: at a really good time. It was twenty eighteen that
• 33:53
  Speaker 2: we bought, and we bought regional. But yeah, it's been
• 33:56
  Speaker 2: a fabulous house.
• 33:57
  Speaker 4: And is that the house that you're currently living in
• 33:59
  Speaker 4: is the primary residence you're talking about?
• 34:01
  Speaker 2: Yes, yeah, we're still in our little three bedroom and
• 34:04
  Speaker 2: it's working perfectly fine at the moment.
• 34:07
  Speaker 4: Perfect And so then you know you're plotting along, you're
• 34:10
  Speaker 4: buying twenty eighteen. When did you buy your first investment property?
• 34:14
  Speaker 2: We bought that last year, so that was twenty twenty four,
• 34:17
  Speaker 2: and we used a lot of our cash that was
• 34:21
  Speaker 2: sitting in our offset to purchase that. We didn't want
• 34:24
  Speaker 2: to refinance our actual loan. We wanted to use I guess,
• 34:29
  Speaker 2: our own equity, and so we purchased our investment property
• 34:33
  Speaker 2: for five hundred and forty five with a twenty percent deposit.
• 34:37
  Speaker 2: And tell me buying that property? Why that one? Because
• 34:41
  Speaker 2: it is in the best location in the town that
• 34:46
  Speaker 2: we live in. It's a beautiful street that we would
• 34:49
  Speaker 2: one day potentially want to live in. And it was
• 34:54
  Speaker 2: literally the worst house on the best street. It was dilapidated,
• 34:57
  Speaker 2: the roof like we had to do a lot of
• 34:59
  Speaker 2: renovations to get get it up to a Liverpool standard.
• 35:01
  Speaker 2: I can't believe that they had a tenant in it
• 35:03
  Speaker 2: like before. Like the roof literally had to get fixed.
• 35:06
  Speaker 2: There was just so many issues with the property.
• 35:09
  Speaker 4: That's because some people are horrid, Like honestly, I just
• 35:13
  Speaker 4: if you're going to be a landlord, just don't be
• 35:15
  Speaker 4: a bad one.
• 35:15
  Speaker 2: And so we did everything ourselves that we could, and
• 35:18
  Speaker 2: that's really big for us as well, that we aren't
• 35:22
  Speaker 2: spending money when we can do it ourselves. So we
• 35:26
  Speaker 2: painted the entire exterior of the house.
• 35:29
  Speaker 4: For example, Painting is the worst. I'm not going to lie.
• 35:31
  Speaker 4: You think it's going to be easy, and it is
• 35:33
  Speaker 4: the hardest log in the entire world.
• 35:35
  Speaker 2: It's horrible. And weatherboards like.
• 35:37
  Speaker 4: Grooves having to cut in all of your weather boards
• 35:40
  Speaker 4: absolutely not. We did all of that in our house too,
• 35:43
  Speaker 4: because I was like to my husband, we got a
• 35:45
  Speaker 4: painting quote and it came back and I was like, nah,
• 35:48
  Speaker 4: we're not paying that. I look like a painter. I
• 35:50
  Speaker 4: can paint. I actually remember I had a meltdown because
• 35:53
  Speaker 4: I'd been painting for like twelve hours and we were
• 35:55
  Speaker 4: doing our ceilings. Oh your neck, yeah, my neck, My
• 35:58
  Speaker 4: back hurt like we hadn't eaten. And it ended up
• 36:01
  Speaker 4: just like still paint rolling, crying and my husband was like,
• 36:05
  Speaker 4: do you want to stop and get a pizza?
• 36:06
  Speaker 3: And I was like, yo, so really do I'm just
• 36:10
  Speaker 3: so hungry and emotional.
• 36:11
  Speaker 2: Yep. No, painting is the worst. That was the best
• 36:14
  Speaker 2: chicken pizza I had in my life. Just to be clear,
• 36:16
  Speaker 2: I love that for you, but I don't love that
• 36:18
  Speaker 2: you had to paint. It's horrible. You know what didn't
• 36:20
  Speaker 2: cost me ten grand? Did it? And you only had
• 36:23
  Speaker 2: one emotional breakdown? So that's pretty good. And that's basically free.
• 36:26
  Speaker 2: It is.
• 36:26
  Speaker 4: Yeah, so tell me this house? Has it got good
• 36:29
  Speaker 4: rental yield?
• 36:30
  Speaker 2: It does. We did want it to be negatively geared
• 36:34
  Speaker 2: for tax purposes, so we are currently getting four hundred
• 36:37
  Speaker 2: and sixty dollars per week from our investment property. Yeah,
• 36:40
  Speaker 2: very cool.
• 36:41
  Speaker 4: I love this, And what's the property plan? In the future,
• 36:44
  Speaker 4: we're planning on getting in more mortgage debt. Are we
• 36:47
  Speaker 4: planning on other investment properties or like, is that a
• 36:50
  Speaker 4: wealth creation strategy for you guys?
• 36:52
  Speaker 2: It definitely could be, but I think we need to
• 36:54
  Speaker 2: figure out where we want to live first and whether
• 36:57
  Speaker 2: we need to have equity for that next property or
• 37:02
  Speaker 2: whether we are going to buy another investment property. Yep, no, smart, Smart,
• 37:06
  Speaker 2: so tell me no other debt, just to be sure.
• 37:09
  Speaker 2: We do have one credit card, but we use that
• 37:11
  Speaker 2: in a very specific way, and it's just to get points. So,
• 37:15
  Speaker 2: as I've kind of alluded to, we live in a
• 37:17
  Speaker 2: regional town that it's quite expensive to fly out of,
• 37:20
  Speaker 2: and we have family interstates, so we use points to
• 37:24
  Speaker 2: be able to go and visit them without having to
• 37:26
  Speaker 2: pay an arm in the lake. Yeah. Absolutely.
• 37:29
  Speaker 4: So we know that your best money habit is that
• 37:32
  Speaker 4: you know, after your HEX was completely paid off, you
• 37:36
  Speaker 4: didn't tell your employer and so therefore your employer was
• 37:40
  Speaker 4: still paying money to the government for your HEX. So
• 37:42
  Speaker 4: at tax time, the government was like, hey, money, dirist,
• 37:45
  Speaker 4: we actually have sixteen grand for you for your HEX
• 37:48
  Speaker 4: that was already paid off. But you took that money
• 37:50
  Speaker 4: and then you put it into your super Are you
• 37:52
  Speaker 4: still doing that?
• 37:54
  Speaker 2: No, So I only did that for the first year
• 37:56
  Speaker 2: to get that lump some and then I'm getting lumps
• 38:00
  Speaker 2: back through doing my tax and then I kind of
• 38:03
  Speaker 2: put that in my offset, leave it there until the
• 38:06
  Speaker 2: next May, and then kind of do it again. Yeah.
• 38:09
  Speaker 2: And do you have any other good money habits you
• 38:11
  Speaker 2: want to share, because I just feel like you've probably
• 38:14
  Speaker 2: got a lot of them. Like I feel like your
• 38:15
  Speaker 2: entire money diary was just a good money habit. I
• 38:18
  Speaker 2: guess it's just to live beneath your means. I think
• 38:21
  Speaker 2: that that's really important and you don't have to keep
• 38:22
  Speaker 2: up with the Joneses, Like, actually, this is a good
• 38:25
  Speaker 2: money habit. My best friend and I always laugh that
• 38:27
  Speaker 2: I cosplay being poor, Like I just pretend that I'm
• 38:31
  Speaker 2: poor all the time, like mentally, and then I just
• 38:34
  Speaker 2: don't spend things. I'm like, oh, well, I can make
• 38:36
  Speaker 2: that at home and it tasts fifteen times better.
• 38:38
  Speaker 4: I feel like this is such a people already know this.
• 38:41
  Speaker 4: I mean a very lucky and I hate the word lucky,
• 38:45
  Speaker 4: but like I'm in a very good financial position now
• 38:48
  Speaker 4: because I have worked really hard. If we're being really honest.
• 38:52
  Speaker 4: This isn't lucky. It wasn't gifted to me. I've never
• 38:54
  Speaker 4: had a leg up, none of that. But I still
• 38:57
  Speaker 4: have it. I think it's like a product of the
• 38:59
  Speaker 4: way that I grew up. I still have it in
• 39:00
  Speaker 4: my head, like we've got food at home, Like I'm
• 39:02
  Speaker 4: still that mum. I'm going on holidays soon. And I
• 39:05
  Speaker 4: said to my husband, Okay, so what time do we
• 39:07
  Speaker 4: land and he was like, oh, it's quite late. And
• 39:09
  Speaker 4: I'm thinking we're not gonna have time to get to
• 39:11
  Speaker 4: the supermarket after we get there.
• 39:13
  Speaker 2: And my husband's like, that's fine, and I was like, yeah,
• 39:16
  Speaker 2: but I need.
• 39:16
  Speaker 4: Like because I hate buying water when we're traveling. I'm like,
• 39:19
  Speaker 4: but we need to buy the big thing of water,
• 39:21
  Speaker 4: and like there's a whole heap of stuff, and he's
• 39:22
  Speaker 4: just like Victoria. But it's just part of my mental process,
• 39:28
  Speaker 4: and like, you know, I'll look at something and don't
• 39:30
  Speaker 4: get me wrong, I've bought a lot of nice things,
• 39:32
  Speaker 4: but I'll still.
• 39:33
  Speaker 2: Look at it and go, oh, I can't afford that.
• 39:34
  Speaker 2: That's ridiculous, And then all of a sudden, I'm like
• 39:37
  Speaker 2: I can afford that.
• 39:38
  Speaker 4: Oh okay, Like I need to check myself a little bit,
• 39:41
  Speaker 4: but like living beneath your means, do you feel like
• 39:44
  Speaker 4: you're missing out? Like do you feel like that is,
• 39:46
  Speaker 4: you know, putting you behind, because like not keeping up
• 39:49
  Speaker 4: with the Joneses. Don't get me wrong, Like in theory
• 39:52
  Speaker 4: it makes sense, but sometimes that feels a bit trashy,
• 39:54
  Speaker 4: Like sometimes you're like, Oh, I don't feel so good
• 39:57
  Speaker 4: about this. I really wanted that, or do you know.
• 39:59
  Speaker 2: What I mean? Sometimes I think I definitely compare myself
• 40:02
  Speaker 2: to people who are at the same life stage and
• 40:04
  Speaker 2: I'm like, oh, you know, they have a nice car,
• 40:07
  Speaker 2: or they I don't know, have a prior handbag or whatever.
• 40:10
  Speaker 2: But I guess I have our family long term goals
• 40:14
  Speaker 2: in mind that we want to be able to give
• 40:17
  Speaker 2: our daughters the best future, and I don't need a
• 40:20
  Speaker 2: prior of handbag if I can hopefully help my daughter,
• 40:23
  Speaker 2: I don't know, buy a house or something later on
• 40:25
  Speaker 2: down the track, Yeah, one hundred percent.
• 40:27
  Speaker 4: Like it comes back to zooming out and looking at
• 40:29
  Speaker 4: your values as a whole, and it can be so
• 40:31
  Speaker 4: easy to be taken away with those things so quickly,
• 40:35
  Speaker 4: Like it makes me frustrated because I get taken by
• 40:38
  Speaker 4: that so often. Like comparison is the thief of joy,
• 40:41
  Speaker 4: and I will tell you that day in, day out,
• 40:43
  Speaker 4: And then there's me in the background at eleven pm
• 40:45
  Speaker 4: on some bloggers TikTok being like, oh, that is.
• 40:48
  Speaker 2: A really nice outfit. Maybe I do, And then I'm like,
• 40:50
  Speaker 2: how are you stop this? Yeah? Just stop, put the
• 40:53
  Speaker 2: phone down, walk away exactly. So what do you reckon
• 40:56
  Speaker 2: your worst money? How it is? I was thinking long
• 40:59
  Speaker 2: and hard about this, and it is that we don't
• 41:02
  Speaker 2: have a budget. And I know that that sounds really wanky.
• 41:05
  Speaker 4: Wee must be nice or a che rich over here,
• 41:08
  Speaker 4: yeah yeah, yeah.
• 41:10
  Speaker 2: Yeah, But it's because and I've kind of been doing
• 41:13
  Speaker 2: some deep diving about it because I lived on such
• 41:16
  Speaker 2: a tight budget for my entire life until I don't know,
• 41:20
  Speaker 2: probably twenty five. I feel like I have a bit
• 41:23
  Speaker 2: of PTSD about it because every dollar had to be
• 41:26
  Speaker 2: doing something and I had to move everything around and
• 41:29
  Speaker 2: it was just so stressful. So we don't necessarily know
• 41:33
  Speaker 2: what's coming in and going out. But because we have
• 41:35
  Speaker 2: that buffer, we're able to have that luxury, if that
• 41:38
  Speaker 2: makes sense. But I still think that it's potentially detrimental
• 41:41
  Speaker 2: because we've got children. Now, we have food budgets and
• 41:45
  Speaker 2: the cost of living is definitely affecting us as well. Yeah.
• 41:48
  Speaker 4: I was talking to Jess actually from the show about
• 41:51
  Speaker 4: this earlier today, and we were talking about the concept
• 41:54
  Speaker 4: of like date nights, like money date nights and how
• 41:58
  Speaker 4: you know. I did an episode a couple of years
• 42:00
  Speaker 4: ago about the date nights that my husband and I
• 42:02
  Speaker 4: were having, and you know, we always used to have
• 42:04
  Speaker 4: them every single month, and that was pre wedding, that
• 42:08
  Speaker 4: was pre baby's, pre our second mortgage.
• 42:11
  Speaker 2: And I said to Jess, because.
• 42:13
  Speaker 4: It was a listener question actually and we're answering it
• 42:15
  Speaker 4: on the show. She said, oh, you guys would still
• 42:17
  Speaker 4: do them really well? And I was like, well, actually, no,
• 42:19
  Speaker 4: Like I feel like, now we've achieved some really big things,
• 42:23
  Speaker 4: we are really really on the same page, so I
• 42:25
  Speaker 4: actually don't need to check in monthly because in our
• 42:27
  Speaker 4: heads we both know kind of what's going on. But then,
• 42:30
  Speaker 4: you know, I spoke about this holiday that we were
• 42:32
  Speaker 4: about to go on, and I was like, you know,
• 42:34
  Speaker 4: we checked in when we were booking a holiday because
• 42:36
  Speaker 4: that's a really big financial expense and we wanted to
• 42:38
  Speaker 4: like go, okay, well, what's our budget each night for
• 42:40
  Speaker 4: a hotel and then I'll go find one and you know,
• 42:42
  Speaker 4: how many points do we have for flights? And okay,
• 42:44
  Speaker 4: we've got that and I could. Luckily, we spent all
• 42:47
  Speaker 4: of our points on flights and they had some points
• 42:49
  Speaker 4: left over so that we spent that on some accommodation
• 42:52
  Speaker 4: as well. But like it's kind of like a strategy
• 42:55
  Speaker 4: meeting before we make a big financial decision again. But
• 42:58
  Speaker 4: we don't need those monthslea ones. Did you used to
• 43:01
  Speaker 4: do the monthly date and now you feel like you've
• 43:03
  Speaker 4: fallen off the bandwagon as well?
• 43:05
  Speaker 2: Oh definitely, And like who has time to date right now?
• 43:08
  Speaker 2: I'm like barely sleeping.
• 43:09
  Speaker 4: No, no, no, if the kids are in bed early, sorry,
• 43:11
  Speaker 4: I'm also going to bed.
• 43:13
  Speaker 2: Literally, our date is holding hands on the couch for
• 43:15
  Speaker 2: two seconds and then rolling off and going to sleep. Catcher,
• 43:19
  Speaker 2: your hand's sweaty. Bye. Yeah, don't even touch me. I've
• 43:21
  Speaker 2: been touched out. I've had a four month old crawling
• 43:23
  Speaker 2: on me all day. Oh yeah, so cute. She is
• 43:26
  Speaker 2: very cute. She's very very sweet. But yeah, we definitely
• 43:30
  Speaker 2: don't need to have those little check ins because we've
• 43:33
  Speaker 2: got the game plan. Like we've been together so long
• 43:36
  Speaker 2: we've had our money merged for so long as well
• 43:39
  Speaker 2: that we just we know where each other's going. It's
• 43:42
  Speaker 2: kind of like, yeah, when you've been playing on the
• 43:44
  Speaker 2: same team for so long, you don't have to look
• 43:45
  Speaker 2: because you know that they're going to be there. Yeah.
• 43:47
  Speaker 4: No, I think that that's an important thing to talk
• 43:50
  Speaker 4: about as well, because I think there's this assumption when
• 43:52
  Speaker 4: you implement day nights they have to be forever, and like,
• 43:55
  Speaker 4: if you want them to be, I guess they can be.
• 43:57
  Speaker 4: But it's just I feel like it would be a
• 43:59
  Speaker 4: genuine waste of our time at this point because I'd
• 44:01
  Speaker 4: be like, so our money's doing this and stay We'll
• 44:03
  Speaker 4: be like yep, I know. I'll be like what about this,
• 44:05
  Speaker 4: and he'd be like, m hm, it's exactly where we
• 44:07
  Speaker 4: thought it was going to be.
• 44:08
  Speaker 2: Yeah, that's the same as us. And that's good. It's nice.
• 44:11
  Speaker 2: It's very calming.
• 44:13
  Speaker 4: It feels like an accomplishment. Like I was saying to Jess,
• 44:15
  Speaker 4: it genuinely feels so good being like, oh, hold on,
• 44:18
  Speaker 4: I feel like we've graduated, like we've gone from needing
• 44:20
  Speaker 4: this and like implementing structure and making change, which can
• 44:23
  Speaker 4: feel really hard, to being at the easier part, where
• 44:27
  Speaker 4: you know, I feel like I'm gloating when I say that,
• 44:29
  Speaker 4: but like, it does get easier when things start compounding,
• 44:32
  Speaker 4: when your choices start to become ingrained. You're kind of like, oh,
• 44:36
  Speaker 4: this just works.
• 44:37
  Speaker 2: Yeah, and you just kind of stick to the same
• 44:39
  Speaker 2: thing as well. And yeah, it definitely doesn't happen overnight,
• 44:43
  Speaker 2: but it does eventually happen.
• 44:44
  Speaker 4: Oh no, it takes a long time, but then all
• 44:46
  Speaker 4: of a sudden you're there and you can't believe you're
• 44:48
  Speaker 4: thirty four years old and have two children.
• 44:50
  Speaker 2: I know, it's wild.
• 44:52
  Speaker 4: So at the start of this episode, you said I'm
• 44:55
  Speaker 4: an A minus goal, what's it going to take for
• 44:57
  Speaker 4: you to say that you're an A plus?
• 44:59
  Speaker 2: What do we have to do? Because that's crazy talk
• 45:01
  Speaker 2: to me after hearing your story, I guess it just
• 45:03
  Speaker 2: feels a bit like up myself, I'm like, I'm an
• 45:05
  Speaker 2: A plus.
• 45:06
  Speaker 4: It's totally not because I think it's just logic. You've
• 45:09
  Speaker 4: worked your ass off to be an A plus. Like
• 45:12
  Speaker 4: I'm not an A plus and I'm not an A
• 45:14
  Speaker 4: plus because I'm very good at comparison and I'm very
• 45:18
  Speaker 4: good at impulse purchasing and I'm very good at, you know,
• 45:22
  Speaker 4: falling a little bit off the track when I wanted
• 45:24
  Speaker 4: to stay out.
• 45:24
  Speaker 2: You didn't say any of that.
• 45:25
  Speaker 4: Sorry, A plus for you, I'll tell you you're an
• 45:28
  Speaker 4: A plus.
• 45:29
  Speaker 2: I think that makes it less wanky. Thank you. I
• 45:31
  Speaker 2: appreciate that money, Darst.
• 45:34
  Speaker 4: I wish we had so much more time to chat,
• 45:37
  Speaker 4: but this has been fun. I feel like I've found
• 45:39
  Speaker 4: like my little peen a pod and we are so similar.
• 45:42
  Speaker 4: So thank you so much for sharing your journey with
• 45:44
  Speaker 4: the community. I just know they're gonna love this. Like
• 45:47
  Speaker 4: the fact, and just reminding everybody all of this was
• 45:50
  Speaker 4: achieved by somebody whose parents were on Centerlink and she
• 45:54
  Speaker 4: had to put herself through university. Like girl, you did
• 45:57
  Speaker 4: this all yourself. That's crazy, that's so cool.
• 46:00
  Speaker 2: Thank you so much. I really appreciate having the opportunity
• 46:03
  Speaker 2: to talk to you, and I hope that it inspires
• 46:05
  Speaker 2: someone to be able to see that they can change
• 46:07
  Speaker 2: their story.
• 46:08
  Speaker 4: They absolutely can, And I feel like you gave so
• 46:10
  Speaker 4: many like helpful tips and tricks through this that I'm
• 46:13
  Speaker 4: now worried you're coming.
• 46:14
  Speaker 2: For my job, so be goot, watch out bed, I'm
• 46:18
  Speaker 2: watching my back. Thanks so much.
• 46:26
  Speaker 4: The advice shared on She's on the Money is general
• 46:29
  Speaker 4: in nature and does not consider your individual circumstances. She's
• 46:33
  Speaker 4: on the Money exists purely for educational purposes and should
• 46:36
  Speaker 4: not be relied upon to make an investment or financial decision.
• 46:40
  Speaker 4: If you do choose to buy a financial product, read
• 46:42
  Speaker 4: the PDS TMD and obtain appropriate financial advice tailored towards
• 46:47
  Speaker 4: your needs. Victoria Divine and She's on the Money are
• 46:50
  Speaker 4: authorized representatives of.
• 46:52
  Speaker 2: Money showper Pty Ltd.
• 46:54
  Speaker 4: A BN three two one six four nine two seven
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  Speaker 4: seven zero eight AFSL four five one two eight nine
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  Speaker 2: H