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MONEY DIARIES: There's Life After Shopping Addiction · She's On The Money

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  Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud yr
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  Speaker 1: the Order Kerni Whoalbury and a waddery woman. And before
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  Speaker 1: we get started on She's on the Money podcast, I
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  Speaker 1: would like to acknowledge the traditional custodians of the land
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  Speaker 1: of which this podcast is recorded on a wondery country,
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  Speaker 1: acknowledging the elders, the ancestors and the next generation coming
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  Speaker 1: through as this podcast is about connecting, empowering, knowledge sharing
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  Speaker 1: and the storytelling of you to make a difference for
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  Speaker 1: today and lasting impact for tomorrow.
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  Speaker 2: Let's get into it.
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  Speaker 3: She's on the Money, She's on the Money.
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  Speaker 2: Hello and welcome.
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  Speaker 4: She's on the Money the podcast Millennials who want financial freedom.
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  Speaker 4: Welcome back to another one of our Money Diaries episodes
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  Speaker 4: where I get the absolute privilege of talking to one
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  Speaker 4: of our incredible She's on the Money community members all
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  Speaker 4: about their money story. So let's jump straight into it
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  Speaker 4: because this week we got a message and it sounded
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  Speaker 4: exactly like this. Hi, She's on the Money. I grew
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  Speaker 4: up exposed to alcohol and gambling and was always going without.
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  Speaker 4: I developed a shopping addiction and hit rock bottom last
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  Speaker 4: year after I spent all my money on clothes and
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  Speaker 4: moving into state. But last year I began to turn
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  Speaker 4: my life around and now I'm ready to buy my
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  Speaker 4: first home with my partner. Money Diarist, I feel like
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  Speaker 4: that story is giving me a bit of whiplash.
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  Speaker 2: Are you ready to have a chat with the community
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  Speaker 2: about it?
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  Speaker 5: Yes, let's go for it.
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  Speaker 2: I'm really excited. The question I always ask upfront is money.
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  Speaker 4: Diarist, If I asked you to give yourself a.
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  Speaker 2: Grade from A through to a F, what would that
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  Speaker 2: grade be?
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  Speaker 6: I feel like, at this point in my life, I've
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  Speaker 6: done a lot of work, but I've still got a
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  Speaker 6: lot of work to do, So at this point in time,
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  Speaker 6: I'd get myself.
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  Speaker 4: A see see all right, well let's learn more about that.
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  Speaker 4: My favorite question of all time, money Diarist, Can you
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  Speaker 4: dive a little bit deeper into your money story?
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  Speaker 5: Yes?
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  Speaker 6: So my money story started early in childhood. So I
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  Speaker 6: grew up exposed to a lot of gambling and alcohol addictions.
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  Speaker 6: So a lot of my parents paycheck went to that
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  Speaker 6: every week, and I grew up having to go without
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  Speaker 6: a lot of the things that I wanted and needed
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  Speaker 6: as a child. Seeing my parents live paycheck to paycheck
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  Speaker 6: was the norm for me, so when I got my
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  Speaker 6: first job at fourteen years old, I chose to spend
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  Speaker 6: that on clothes and shoes and whatever I needed or
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  Speaker 6: wanted at the time, and I never really knew the
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  Speaker 6: concept of saving or the importance of it. I actually
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  Speaker 6: remember one of my first jobs when I was sixteen
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  Speaker 6: years old, working as a hairdresser, and I'd get my
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  Speaker 6: full time paycheck of three hundred and fifty dollars a week,
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  Speaker 6: and I would go out and spend it that day
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  Speaker 6: on my lunch break on whatever I wanted that day,
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  Speaker 6: and I would have to go home and ask my
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  Speaker 6: mum for petrol money.
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  Speaker 5: To be able to get to work the next week.
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  Speaker 6: Yeah, that was kind of my story up until I
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  Speaker 6: turned around twenty three, where I really realized spending my
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  Speaker 6: money in this way was a problem and that I
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  Speaker 6: needed to really change my money spending ways.
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  Speaker 2: Yeah, that's so fair.
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  Speaker 4: I feel like it's really relatable when you're young to
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  Speaker 4: just go I've got my paycheck, let's spend it, and
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  Speaker 4: you didn't waste any time getting it at lunch time,
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  Speaker 4: and then going, oh, well, I haven't really thought this through.
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  Speaker 4: I probably need to chat to mum about petrol money.
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  Speaker 4: I feel like it's such a common thing, but we
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  Speaker 4: don't talk about it because how many times does mum
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  Speaker 4: and dad just go all right, no worries, like, let's
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  Speaker 4: get this together for you, money diarist, because it's kind
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  Speaker 4: of accepted that young people will.
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  Speaker 2: Be a little bit frivoless with my they're not so
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  Speaker 2: good at it.
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  Speaker 4: But instead of sitting you down and going all right, money, Dirris,
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  Speaker 4: this is what we need to change. This is how
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  Speaker 4: we're going to create Well, this is you know, actually
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  Speaker 4: really bad behavior from you. It was just I guess
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  Speaker 4: perpetuated and not purposefully. It's just a lack of financial
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  Speaker 4: education from everybody's perspective. And I'm just really glad that
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  Speaker 4: you're stepping out of that because it's changing the narrative
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  Speaker 4: moving forward, Money direst.
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  Speaker 2: I know you mentioned it just.
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  Speaker 4: Before that one of your first jobs was working as
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  Speaker 4: a headdresser. But I want to know what you're doing
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  Speaker 4: now and how much money you are earning.
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  Speaker 6: I'm currently working in administration and I'm earning seventy thousand
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  Speaker 6: before tax per year.
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  Speaker 2: Oh very nice? Is that including or excluding.
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  Speaker 5: Super excluding super?
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  Speaker 4: Oh very very nice? All right, money diris next question
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  Speaker 4: I've got for you. I want to know what is
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  Speaker 4: your big money goal? What are you currently working towards?
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  Speaker 5: So minea.
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  Speaker 6: My partner's big money goal is to be financially free,
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  Speaker 6: of course, but right now we are working towards a
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  Speaker 6: five year plan, which is that when we start having kids,
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  Speaker 6: I will be the stay at home parent. We are
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  Speaker 6: working towards, I guess, replacing some of my income so
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  Speaker 6: that when I'm home with the kids, we don't have
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  Speaker 6: to go without. So right now, my partner has just
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  Speaker 6: been approved for a home loan and we're currently looking
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  Speaker 6: for our first house, and in December, I will be
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  Speaker 6: ready to purchase first house under my name.
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  Speaker 4: Oh exciting. We're like doubling down. We're not just doing
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  Speaker 4: it under one name, We're doing it under both.
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  Speaker 2: I love this.
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  Speaker 4: I want to be like Superpervy though, because I feel
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  Speaker 4: like at the moment, especially in the middle of a
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  Speaker 4: cost of living crisis, the idea of being a stay
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  Speaker 4: at home parent is getting further and further away from
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  Speaker 4: something that is really achievable.
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  Speaker 2: What does your.
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  Speaker 4: Partner earn, what does he do and how are you
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  Speaker 4: going to make this work at some point? Or like,
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  Speaker 4: what are you working towards or thinking at this point
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  Speaker 4: in time.
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  Speaker 5: He is an engineer.
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  Speaker 6: He earns one hundred and twenty twenty five thousand per
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  Speaker 6: year including super So what we're planning to do within
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  Speaker 6: the next five years is pay off one of the
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  Speaker 6: mortgages in five years.
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  Speaker 5: Yeah, we're going to do it.
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  Speaker 2: She's aggressive. I love this.
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  Speaker 6: Yeah, we're going to pay off one of the mortgages
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  Speaker 6: and have the full benefit of that rental income.
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  Speaker 4: I love this so much, but I want to know
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  Speaker 4: a little bit more. I'm so pervy. I'm so sorry,
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  Speaker 4: but I know that everybody else listening is as well.
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  Speaker 4: So like I've just got to step up and ask
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  Speaker 4: the hard hitting questions. How much are you looking at
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  Speaker 4: taking when it comes to a mortgage, Like what does
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  Speaker 4: that look like?
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  Speaker 2: And how will we paying off.
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  Speaker 4: A mortgage in I don't know five years, because like
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  Speaker 4: I know, it's going to take me the full thirty So.
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  Speaker 6: My partner has a thirty five thousand dollar deposit to
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  Speaker 6: buy his first home, and ideally we're looking at going
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  Speaker 6: the cheaper the better. What we really need is just
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  Speaker 6: some thing to live in for the meantime and something
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  Speaker 6: that can be rented out to other people as an investment.
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  Speaker 6: So ideally looking for like a one bedroom or a
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  Speaker 6: two bedroom.
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  Speaker 5: Yeah, as cheap as possible.
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  Speaker 6: So ideally we'd like to spend around three twenty five
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  Speaker 6: and we have been finding things in our price range.
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  Speaker 6: But I guess it all comes down to what you're
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  Speaker 6: expecting that place to be for us. It's not our
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  Speaker 6: forever home. We've lived in rentals that have been much
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  Speaker 6: worse than the ones we're looking at, and yeah, we're
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  Speaker 6: really happy to sacrifice a few of the luxury home
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  Speaker 6: things that we would love for that greater goal of
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  Speaker 6: being a stay at home parent.
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  Speaker 2: I love it.
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  Speaker 4: I want to know, are you planning on moving into
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  Speaker 4: that property so that you can get all of the
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  Speaker 4: benefits of like first home buyers and stuff like that.
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  Speaker 6: Yes, so we're planned to move into the property. We
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  Speaker 6: are doing the fifteen percent government grant for the first property,
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  Speaker 6: so we only need a five percent deposit. But basically
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  Speaker 6: we're just going to put everything that we can towards
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  Speaker 6: that and make a lot of sacrifices throughout the next
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  Speaker 6: five years for that to be a possibility for us.
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  Speaker 4: Yeah, I love that so much. I'm seeing so many
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  Speaker 4: young people like yourself going all right, Well, the property
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  Speaker 4: dream is definitely a dream of ours, but it doesn't
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  Speaker 4: look the same way it used to for our parents
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  Speaker 4: or our parents' parents. Now we need to buy stepping
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  Speaker 4: stone properties and instead of just going straight into the
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  Speaker 4: family home and you know, having a kid and not
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  Speaker 4: working anymore, it's kind of we buy these smaller properties,
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  Speaker 4: we pay them off, or pay a significant amount of
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  Speaker 4: them off, use the equity in that property to get
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  Speaker 4: into our next property, and kind of start growing our
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  Speaker 4: portfolio that way.
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  Speaker 2: And it makes so much sense.
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  Speaker 4: And I just feel like sometimes we have to start
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  Speaker 4: small and grow because that's what creates ultimate wealth, whereas
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  Speaker 4: a lot of us And I mean I was the
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  Speaker 4: same purchasing my first home.
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  Speaker 2: I was like, oh, I.
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  Speaker 4: Don't know if I want to compromise, Like I don't
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  Speaker 4: know if I want to you know, go small and
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  Speaker 4: you know, do all of the things that I need
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  Speaker 4: to do. I just really wanted my dream home up front.
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  Speaker 4: I feel like it's now starting to pay off. Like
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  Speaker 4: my partner and I bought our home nearly four years ago,
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  Speaker 4: or just over four years actually ago, and now I'm
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  Speaker 4: looking at it going I'm really glad that we bought
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  Speaker 4: a home that was smaller than what we technically could
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  Speaker 4: have purchased, and we adore it still. But I think
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  Speaker 4: it's put us in a really secure position, especially when
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  Speaker 4: we know that interest rates are terrifying at the moment
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  Speaker 4: as well. Is that something you guys have discussed and gone,
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  Speaker 4: all right, well, what happens if there's another interest rate hike?
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  Speaker 6: Yeah, so we have discussed that, and that's why our
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  Speaker 6: plan is ideally the cheaper the better. We know that
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  Speaker 6: there's always something that may happen, so we don't really
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  Speaker 6: think for us that it's a smart idea to max
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  Speaker 6: out our loan capacity on one property, because we have
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  Speaker 6: to consider the fact that in five years we're only
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  Speaker 6: going to be on one income. Yeah, so I think
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  Speaker 6: for us, we just want to make sure that we're
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  Speaker 6: living within our means and not maxing out our own capacity.
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  Speaker 2: I love this.
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  Speaker 4: I feel like you guys have thought about it so much,
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  Speaker 4: and I already know I want to have a little
• 10:07
  Speaker 4: bit of a disagreement with you about that. See, you
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  Speaker 4: gave yourself at the start, but even though I have
• 10:13
  Speaker 4: heaps of questions, we need to go to a really
• 10:15
  Speaker 4: quick break and then on the flip side. We're going
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  Speaker 4: to be talking about investments, We're going to be talking
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  Speaker 4: about debt. And I want to know your best and
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  Speaker 4: your worst money habits because I have a sneaky suspicion
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  Speaker 4: you've built a couple of really good ones we're all
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  Speaker 4: going to want to steal. So guys don't go anywhere.
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  Speaker 4: All right, money Diarist, We are back, and I want
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  Speaker 4: to know do you invest?
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  Speaker 2: If so, what in If not? Do you have a plan.
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  Speaker 6: Yes, so I do have investments, but I'm not currently investing,
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  Speaker 6: as those savings are going towards my first property. Back
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  Speaker 6: in twenty twenty, I bought shares in Vanguard and in
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  Speaker 6: BHP for twenty eight hundred dollars, which at that point
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  Speaker 6: was the most money I had ever said in my life.
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  Speaker 6: And now those shares are at three thousand, five hundred.
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  Speaker 2: Oh I love this.
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  Speaker 4: So I'm assuming when you say Vanguard you purchased a
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  Speaker 4: Vanguard ETF.
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  Speaker 2: Is that correct?
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  Speaker 5: Yes?
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  Speaker 4: So how did you pick that ETF? And why did
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  Speaker 4: you pick BHP as a direct share?
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  Speaker 6: So I'd seen my partner invest and he's got quite
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  Speaker 6: a large portfolio, and I was there looking at all
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  Speaker 6: of the behind the scenes of what he was doing
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  Speaker 6: and how he was investing his money, and we were
• 11:29
  Speaker 6: learning a lot of this stuff together just off basic
• 11:32
  Speaker 6: YouTube videos. We're definitely not the best investors, but we
• 11:37
  Speaker 6: made a decision just to see how it went, and
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  Speaker 6: that's what we decided to put our money in.
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  Speaker 4: I love it because I feel like Vanguard and BHP
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  Speaker 4: they're both blue chip, really solid stocks that have existed
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  Speaker 4: for a really long time. The Vanguard is going to
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  Speaker 4: have given you some really good instant diversification, which I'm
• 11:55
  Speaker 4: sure you already know because we love an exchange traded
• 11:58
  Speaker 4: fund for that purpose. What made you go with Vanguard
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  Speaker 4: though there's lots of ETFs on the market. Was it
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  Speaker 4: tried and true or was it something that your partner
• 12:07
  Speaker 4: had suggested, or were you just like, look, this just
• 12:09
  Speaker 4: feels like a good option. How did you come to
• 12:12
  Speaker 4: the decision of Vanguard with the ATF providers?
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  Speaker 6: For me, yes, so Vanguard was what my partner invested in,
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  Speaker 6: and the reason I chose to go with it was
• 12:21
  Speaker 6: because there's a lot of information on the Internet about Vanguard,
• 12:25
  Speaker 6: and for me, I wanted to invest into something that
• 12:27
  Speaker 6: I thought was safe. So with there being that information,
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  Speaker 6: that felt like the safest option to me, just to
• 12:33
  Speaker 6: see how it went, because at that point in time,
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  Speaker 6: twy eight hundred dollars was a lot of money to me.
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  Speaker 4: It's still a lot of money, Like twenty eight hundred
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  Speaker 4: dollars is life changing, and the fact that you were
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  Speaker 4: able to invest it, like it makes me so happy
• 12:46
  Speaker 4: because you told us at the start that you know,
• 12:49
  Speaker 4: you grew up and you were exposed to alcohol and gambling,
• 12:52
  Speaker 4: and now you're an investor, Like that's literally the opposite
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  Speaker 4: of gambling, Like you are creating wealth instead of like
• 12:57
  Speaker 4: hoping that one day you'll have a big win. Like
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  Speaker 4: I adore the fact that this is kind of like
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  Speaker 4: flipping the narrative.
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  Speaker 2: Complete side note.
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  Speaker 4: Is this something that has been hard to work through
• 13:08
  Speaker 4: or is it something that you've been like no v
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  Speaker 4: like once I realized that this was an option that
• 13:12
  Speaker 4: was really easy, or what has that pathway looked like
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  Speaker 4: for you?
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  Speaker 6: It has been really hard. I would say it's a
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  Speaker 6: lot easier now than it used to be. I first
• 13:23
  Speaker 6: started self development when I was around twenty or twenty
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  Speaker 6: one and realized that a lot of the things that
• 13:29
  Speaker 6: were happening in my life that I didn't like were
• 13:32
  Speaker 6: due to what I was exposed to as a child.
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  Speaker 6: So yeah, it was really hard to work through in
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  Speaker 6: the beginning, especially my money story. I think that's one
• 13:41
  Speaker 6: of the hardest things I've had to work through, to
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  Speaker 6: really take something that was so so negative and turn
• 13:48
  Speaker 6: it into something that is more than just the average
• 13:52
  Speaker 6: or more than just the normal. I'm not trying to
• 13:54
  Speaker 6: be normal. I'm trying to be better than that. And yeah,
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  Speaker 6: to take something that was so bad and turn it
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  Speaker 6: into something so good has been hard.
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  Speaker 5: But I would rather the harder.
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  Speaker 6: Option than the easier option of just staying normal.
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  Speaker 2: I love it so much.
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  Speaker 4: Are you really proud of what you've done, because like
• 14:11
  Speaker 4: no one else has done that for you. You've done that.
• 14:13
  Speaker 4: Is that something that you're proud of? And do you
• 14:15
  Speaker 4: ever reflect on that? Yeah, I'm very proud of it.
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  Speaker 4: Like growing up in a household where I didn't have
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  Speaker 4: any financial education, to have found all of these tools
• 14:26
  Speaker 4: and resources on my own and done that work on
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  Speaker 4: my own, Yeah, it's one of the things that I'm
• 14:31
  Speaker 4: most proud of in my life.
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  Speaker 2: I love it so much.
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  Speaker 4: I know I've said that so many times, but like
• 14:36
  Speaker 4: I just do I want to know now do you
• 14:38
  Speaker 4: have any debt?
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  Speaker 2: If so, what is it?
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  Speaker 5: Yes?
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  Speaker 6: So I was studying a few years ago and then
• 14:44
  Speaker 6: decided to change my career. So I have a hex
• 14:48
  Speaker 6: step of seventeen thousand dollars.
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  Speaker 2: That's okay?
• 14:51
  Speaker 4: And what study was that and how did it pivot
• 14:54
  Speaker 4: and change? I know you said before that you work
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  Speaker 4: in admin. At the moment, what were you studying to
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  Speaker 4: be or become or the thought patterns there?
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  Speaker 6: So I was studying to be a primary school teacher.
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  Speaker 5: Oh cool?
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  Speaker 6: And I started studying late when I was twenty one.
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  Speaker 6: I never really knew what career I wanted to be in.
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  Speaker 6: I just knew that I wanted to do something that
• 15:16
  Speaker 6: was caring and nurturing, and I thought that was the
• 15:18
  Speaker 6: right role for me. But after completing a couple of placements,
• 15:22
  Speaker 6: I realized how much work it would be, and I
• 15:26
  Speaker 6: just decided that that was not the best career path
• 15:30
  Speaker 6: for me to really exercise the skills that I wanted
• 15:33
  Speaker 6: to exercise.
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  Speaker 2: I love that. I feel like so many of us
• 15:38
  Speaker 2: start studying.
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  Speaker 4: And even though you probably look back on this and go,
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  Speaker 4: oh my gosh, that's seventeen grand that's such a waste
• 15:45
  Speaker 4: of money, I am absolutely certain that you have so
• 15:47
  Speaker 4: much more clarity now in what you want your life
• 15:50
  Speaker 4: to look like. And you've probably got a heap of
• 15:52
  Speaker 4: skills that maybe you're not even recognizing from that study
• 15:55
  Speaker 4: that really help you right now. When you become a
• 15:59
  Speaker 4: stay at home I know that that was the plan.
• 16:01
  Speaker 4: Is that something that you're like, Yep, that's like everything
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  Speaker 4: I've ever wanted to achieve? Or is that a look
• 16:07
  Speaker 4: that makes the most sense for us? And I will
• 16:09
  Speaker 4: do that until the kids go to school and then
• 16:11
  Speaker 4: you know, get back into a career.
• 16:13
  Speaker 2: So what does that look like for you?
• 16:16
  Speaker 5: Yes?
• 16:16
  Speaker 6: So for me, from a very young age, I've always
• 16:19
  Speaker 6: known that I've wanted to be a mum. I became
• 16:22
  Speaker 6: an auntie at fourteen years old and that just absolutely
• 16:26
  Speaker 6: solidified it to me.
• 16:27
  Speaker 2: You're like, I'm sold, I'm done.
• 16:29
  Speaker 6: Yeah, that is my absolute favorite role ever. And I've
• 16:33
  Speaker 6: always been really good with children. I've always loved children.
• 16:36
  Speaker 6: It just comes really natural to me. So it is
• 16:40
  Speaker 6: my end goal to be a stay at home mum. However,
• 16:43
  Speaker 6: I do have other passions and I would love when
• 16:47
  Speaker 6: my children are old enough, when they're in primary school,
• 16:49
  Speaker 6: to have my own business and yeah, do something that
• 16:54
  Speaker 6: I'm really passionate about after I've dedicated that time to
• 16:57
  Speaker 6: having children.
• 16:58
  Speaker 2: I love it.
• 16:59
  Speaker 4: As a new mam, I can absolutely agree that it
• 17:02
  Speaker 4: is really hard to leave them. Like I didn't think
• 17:05
  Speaker 4: it would be as hard as it was, because I
• 17:07
  Speaker 4: obviously adore everything that I do, and I find my
• 17:11
  Speaker 4: job to be an absolute privilege.
• 17:13
  Speaker 2: But even then, I'm like, oh, money diaries, I love it,
• 17:16
  Speaker 2: but like Harvey's.
• 17:17
  Speaker 4: At home, like it's the hardest thing in the entire world.
• 17:20
  Speaker 4: So I absolutely get it. Historically, I've got lots of
• 17:23
  Speaker 4: friends who have been like, nah, being a mom, Like
• 17:25
  Speaker 4: that's my career goal, that's everything I ever want to achieve,
• 17:27
  Speaker 4: and I'm like, great, fantastic. I get it even more
• 17:30
  Speaker 4: now as someone who's been really career focused and now
• 17:33
  Speaker 4: has a baby, I'm like, oh, I can see why
• 17:36
  Speaker 4: you don't want to return to work.
• 17:37
  Speaker 2: I get it.
• 17:38
  Speaker 4: Especially if it wasn't something that I was super passionate about.
• 17:40
  Speaker 4: I don't know where I'd find the motivation to return. Obviously,
• 17:44
  Speaker 4: financially it would be an absolute stretch. But I just
• 17:48
  Speaker 4: look at it and I go, I totally get this
• 17:51
  Speaker 4: money diarist. I want to know a bit more about
• 17:53
  Speaker 4: your best and worst money habits. We'll start with best
• 17:55
  Speaker 4: money habits. What is your best money habit? And can
• 17:59
  Speaker 4: you share it with me?
• 18:01
  Speaker 5: Yes?
• 18:01
  Speaker 6: So, I've tried to think about this really long and hard,
• 18:05
  Speaker 6: but I don't think I can narrow it just down
• 18:08
  Speaker 6: to one because of how much progress I've made.
• 18:12
  Speaker 5: I feel like there are three really big things that
• 18:15
  Speaker 5: contribute to that.
• 18:17
  Speaker 6: Number one being budgeting and knowing what bills I have,
• 18:21
  Speaker 6: when they're going to come out, how much they are.
• 18:24
  Speaker 6: I really keep track of those things very well, and
• 18:28
  Speaker 6: I know what's coming in and going out of my
• 18:30
  Speaker 6: account on a daily basis, and I plan for that
• 18:33
  Speaker 6: in my budget.
• 18:34
  Speaker 2: Oh I love this.
• 18:35
  Speaker 4: Before I get into your second good money habit, can
• 18:38
  Speaker 4: you tell me a bit more about how you budget,
• 18:40
  Speaker 4: Like is that something that you know it's in your
• 18:42
  Speaker 4: head or is it on the back of an envelope
• 18:44
  Speaker 4: or do you have a really really comprehensive spreadsheet like
• 18:47
  Speaker 4: what works for you?
• 18:48
  Speaker 5: Yeah, so it's a bit of both.
• 18:50
  Speaker 6: I do have a note in my phone that says
• 18:53
  Speaker 6: my income and all of my outgoings. So I get
• 18:56
  Speaker 6: paid fortnightly two one hundred dollars and I have seven
• 19:00
  Speaker 6: hundred and fifty dollars of set bills per fortnite. Whenever
• 19:05
  Speaker 6: I have internet or a phone bill come out, I
• 19:09
  Speaker 6: will just take that out of the pay for that cycle,
• 19:13
  Speaker 6: and then I will usually save the rest. So on average,
• 19:16
  Speaker 6: it works out that I save one thousand dollars a fortnight.
• 19:19
  Speaker 4: Oh my gosh, that's epic. Is that hard or is
• 19:23
  Speaker 4: that easy? Like I feel like one thousand dollars a fortnite.
• 19:25
  Speaker 4: That's truckloads of money to me, especially on your salary,
• 19:29
  Speaker 4: Like that is really cool.
• 19:30
  Speaker 5: It's hard and easy.
• 19:31
  Speaker 6: At the same time, I feel like there are a
• 19:33
  Speaker 6: lot of things that I have to sacrifice.
• 19:36
  Speaker 5: And choose to go without.
• 19:38
  Speaker 6: But for our budget, my partner pays our rent and
• 19:42
  Speaker 6: I pay all our other expenses, so it works out
• 19:44
  Speaker 6: to be around.
• 19:45
  Speaker 5: Fifty to fifty.
• 19:47
  Speaker 6: It's hard because I have to sacrifice a lot of things,
• 19:49
  Speaker 6: but also at the same time, it's easy because every
• 19:52
  Speaker 6: time I get paid, I see that number in the
• 19:55
  Speaker 6: thousands go up every time, and it just gives me
• 19:57
  Speaker 6: so much motivation to want to sackle even more that
• 20:01
  Speaker 6: fortnight to be able to make it larger.
• 20:03
  Speaker 4: Yeah, I feel like it's a snowball effect, like when
• 20:05
  Speaker 4: you have no savings, You're like, what is the point,
• 20:07
  Speaker 4: Like why should I bother? Like, there's no reason why
• 20:10
  Speaker 4: I should, you know, put this extra thousand dollars into
• 20:13
  Speaker 4: my account.
• 20:13
  Speaker 2: It'll be gone in a couple of weeks.
• 20:15
  Speaker 4: And then it like starts to compound, and then you
• 20:17
  Speaker 4: start to feel like fiercely protective over it. You know,
• 20:20
  Speaker 4: it gets to like five thousand dollars and you're like,
• 20:22
  Speaker 4: holy heck, that's the most amount of money I've ever
• 20:24
  Speaker 4: seen in my life. And then it gets to ten thousand,
• 20:26
  Speaker 4: You're like, holy moly, that is a five figure amount,
• 20:29
  Speaker 4: Like I don't know what I'm going to do here,
• 20:31
  Speaker 4: And I find that that's one really motivating, but then
• 20:34
  Speaker 4: it makes the process of purchasing property like one exciting,
• 20:38
  Speaker 4: but two really overwhelming because you're like, wait, wait, wait, wait,
• 20:41
  Speaker 4: my savings are going to go and I've worked so
• 20:43
  Speaker 4: hard for these and even though you know that was
• 20:46
  Speaker 4: actually the goal, like separating from them can feel, I
• 20:49
  Speaker 4: don't know, emotionally distressing mm hmmm.
• 20:52
  Speaker 6: And I feel like I as well have my savings
• 20:55
  Speaker 6: in a locked bank account, so if I want to
• 20:58
  Speaker 6: access any of those funds, I have to do it
• 21:01
  Speaker 6: with thirty two days notice to be able to access them.
• 21:04
  Speaker 6: So I feel like that really keeps me accountable, especially
• 21:08
  Speaker 6: with having that background of shopping addiction. I can't just
• 21:11
  Speaker 6: unlock my savings and spend it straight away. I have
• 21:13
  Speaker 6: to really think about something. So I've had them locked
• 21:17
  Speaker 6: now for six months and I have not touched them
• 21:19
  Speaker 6: at all.
• 21:19
  Speaker 2: Oh my gosh.
• 21:20
  Speaker 4: I need to know because everyone else is gonna ask
• 21:23
  Speaker 4: thirty two days to be able to access your savings,
• 21:26
  Speaker 4: especially for someone you know who's a little bit spent happy.
• 21:29
  Speaker 4: What bank you with, how are you doing that?
• 21:32
  Speaker 5: Yes?
• 21:32
  Speaker 6: So I am with Virgin Money. I think it's their
• 21:35
  Speaker 6: basic saver. So it just has an automatic lock feature,
• 21:39
  Speaker 6: and it does let you know that you have to
• 21:40
  Speaker 6: request to unlock your bank account thirty two days before
• 21:43
  Speaker 6: you need those funds, and they give three or four
• 21:47
  Speaker 6: percent interest for locking those savings in there, so you
• 21:49
  Speaker 6: get a boas interest.
• 21:51
  Speaker 1: Yeah.
• 21:52
  Speaker 5: Cool.
• 21:52
  Speaker 4: I love not only that you are making money on
• 21:55
  Speaker 4: your money, because that is very sexy, but I love
• 21:58
  Speaker 4: that they give you the option of locking it away
• 22:01
  Speaker 4: or not. Like I love that flexibility, but I also
• 22:03
  Speaker 4: love the idea that you have complete transparency. You know
• 22:06
  Speaker 4: where it is, you can absolutely see it, you just
• 22:08
  Speaker 4: can't touch it. I feel like that's really powerful, obviously
• 22:11
  Speaker 4: for you, but also for lots of other people, So
• 22:13
  Speaker 4: thank you for sharing that. I want to flip the narrative, though,
• 22:17
  Speaker 4: I need to know what are your worst money habits.
• 22:20
  Speaker 6: I think my worst money habits are buying things that
• 22:26
  Speaker 6: I don't need just because I can, and just viewing
• 22:30
  Speaker 6: the money in my personal account or my bills account
• 22:34
  Speaker 6: that I do have access to as spending money instead
• 22:38
  Speaker 6: of for its intended purpose. I think that is definitely
• 22:42
  Speaker 6: my worst habit.
• 22:43
  Speaker 4: Yeah, I feel like that's really relatable though, Like so
• 22:46
  Speaker 4: many of us just see money in our bank account,
• 22:48
  Speaker 4: You're like, well, it's there, and I can't think of
• 22:50
  Speaker 4: anything right this second that I need to spend it on.
• 22:53
  Speaker 4: And then like your Red Joe or your insurance creeps
• 22:56
  Speaker 4: up and you're like, oh my gosh, where did that
• 22:57
  Speaker 4: money go? And you're like, I'm holding it in my
• 22:59
  Speaker 4: hand in this new top that I just purchased.
• 23:02
  Speaker 2: How annoying.
• 23:03
  Speaker 4: I feel like you have a really interesting money story.
• 23:07
  Speaker 4: Having grown up exposed to alcohol and gambling and going
• 23:10
  Speaker 4: without it makes a lot of sense that that kind
• 23:13
  Speaker 4: of manifested into having a shopping addiction. I find it
• 23:17
  Speaker 4: very common when you go without, it's kind of like whiplash.
• 23:20
  Speaker 4: You go, all right, I've gone without for so long,
• 23:23
  Speaker 4: I'm going to look after myself. I'm going to get
• 23:25
  Speaker 4: myself everything that I deserve. And it totally makes sense.
• 23:28
  Speaker 4: But then recovering from that is really really challenging, and
• 23:31
  Speaker 4: it sounds like you're killing it, like you have a
• 23:34
  Speaker 4: planned not only purchased two houses in the next few years,
• 23:38
  Speaker 4: but also like you're forward planning so well that you're like, Nope,
• 23:43
  Speaker 4: we're gonna go on to one income, We're going to
• 23:45
  Speaker 4: pay off one of our mortgages in five years. Like
• 23:48
  Speaker 4: this is the plan. Not only is it the plan,
• 23:50
  Speaker 4: it's really well thought out, Like I'm saving a one
• 23:52
  Speaker 4: thousand dollars per fortnite, Like, girl, you're saving two grand
• 23:56
  Speaker 4: a month. That's twenty six thousand dollars a year. Be
• 23:58
  Speaker 4: for real, Like that is so so much money. And
• 24:01
  Speaker 4: I am genuinely shocked that you've like literally turned your
• 24:05
  Speaker 4: story around so well. But I need to know how
• 24:08
  Speaker 4: does this and the fact that you're on top of
• 24:11
  Speaker 4: budgeting and you clearly know so much about how to
• 24:13
  Speaker 4: purchase property, why are you a C. Tell me more
• 24:16
  Speaker 4: about this grade and why you gave it to yourself,
• 24:18
  Speaker 4: and do you actually think after talking whether that's maybe
• 24:22
  Speaker 4: the right grade for you.
• 24:23
  Speaker 6: I think maybe I could review my grade. Yeah, I
• 24:28
  Speaker 6: feel that I'm a little bit harsh on myself in
• 24:30
  Speaker 6: this area, especially with the past of shopping addiction. I
• 24:34
  Speaker 6: feel a little bit negative whenever I buy things now
• 24:38
  Speaker 6: will spend my money in the way that I know
• 24:40
  Speaker 6: is not best for me and my future. So I
• 24:43
  Speaker 6: feel like that's where the CEA comes from. But yeah,
• 24:46
  Speaker 6: now listing all of that progress I've made and where
• 24:49
  Speaker 6: I was versus where I am, I think I could
• 24:51
  Speaker 6: definitely review that.
• 24:53
  Speaker 4: I think it definitely needs a little review. Like I
• 24:55
  Speaker 4: was just so impressed even when you said, look, I
• 24:57
  Speaker 4: know that I have seven hundred and fifty dollars well
• 25:00
  Speaker 4: of set bills each and every single fortnite, Like that
• 25:02
  Speaker 4: is something that not many people can say, and I
• 25:04
  Speaker 4: know to you at this stage in your journey, you're
• 25:07
  Speaker 4: probably thinking, like, oh, V, that's actually not that big.
• 25:09
  Speaker 4: I just know what's going out of my bank account.
• 25:12
  Speaker 4: Like that's where power starts to come into play, Like
• 25:15
  Speaker 4: you have complete power over your money and historically when
• 25:19
  Speaker 4: you had a shopping addiction that wasn't the case. Like,
• 25:21
  Speaker 4: I just see so much progress here that I'm just like,
• 25:24
  Speaker 4: oh my gosh, Like she's actually going to do what
• 25:26
  Speaker 4: she says she's going to do, because she's doing it
• 25:29
  Speaker 4: right now.
• 25:29
  Speaker 2: So not only should you be super proud, but I.
• 25:31
  Speaker 4: Think maybe a little bit of thought around that sea
• 25:35
  Speaker 4: and giving yourself a little bit more credit for the
• 25:37
  Speaker 4: progress that you've created solely on your own, Like you're
• 25:41
  Speaker 4: killing it and I'm so proud of you. I am
• 25:43
  Speaker 4: going to gift you our budget and cashflow masterclass because
• 25:45
  Speaker 4: you said that you were good at budgeting, but I
• 25:47
  Speaker 4: think we can take it to the next level. So
• 25:49
  Speaker 4: I will sort that out with you after because I
• 25:51
  Speaker 4: think that that is going to change the fact that
• 25:54
  Speaker 4: you keep dipping into those not savings but into your
• 25:57
  Speaker 4: spending account. It'll give you even more control and we
• 26:00
  Speaker 4: love that. But money Diarist, I'm really sorry to say
• 26:03
  Speaker 4: that that's all we have time for today because I
• 26:05
  Speaker 4: have a million other questions.
• 26:07
  Speaker 2: But thank you for sharing your story.
• 26:08
  Speaker 4: Thank you for being so open and letting me be
• 26:11
  Speaker 4: pervy on your partner and be pervy on to basically
• 26:13
  Speaker 4: every single detail of your life, including your plan to
• 26:16
  Speaker 4: have kids.
• 26:17
  Speaker 2: That was really kind of you.
• 26:19
  Speaker 4: But it's been really inspiring hearing your story, and I
• 26:21
  Speaker 4: just know that our community is going to adore it
• 26:24
  Speaker 4: as much as I did.
• 26:25
  Speaker 5: Thanks so much for having me.
• 26:30
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• 26:33
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• 26:37
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• 26:40
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