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MONEY DIARIES: From Bankruptcy to Building Solid Foundations · She's On The Money

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Speaker 1: Hello, my name's Santasha Nabananga Bamblet. I'm a proud your
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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 4: Hello, and welcome to She's on the Money the podcast
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Speaker 4: Millennials who want financial freedom. Welcome back to another shop
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Speaker 4: back Money Diary Monday, where we get to chat to
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Speaker 4: a community member. I learn about their finances and their
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Speaker 4: life and all of the other fun bits as well.
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Speaker 4: Victoria Jessica, I have a story for you today, do
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Speaker 4: you I do surprise.
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Speaker 5: I came here not knowing what was going to happen,
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Speaker 5: and now you've got a story. All right, let me
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Speaker 5: tell you all about it.
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Speaker 4: So our diarist said, when I was sixteen my parents
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Speaker 4: went bankrupt and we lost everything we owned, which shaped
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Speaker 4: my entire relationship with money. My partner and I are
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Speaker 4: engaged in building a house, but it's always in the
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Speaker 4: back of my mind that we might lose everything. My
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Speaker 4: partner came from a low income background, and I'm proud
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Speaker 4: to say that I have helped him lift his financial
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Speaker 4: literacy too.
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Speaker 5: Also, how wholesome money Diarists. Welcome to the show.
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Speaker 2: Thank you so much.
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Speaker 5: Congrats on the house. That's so exciting.
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Speaker 2: It is very exciting.
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Speaker 5: We've got some questions about that, but let's dive straight in.
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Speaker 5: I want to know from you. Tell us a little
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Speaker 5: bit about your money story.
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Speaker 2: Yeah, of course. So the earliest memories I have around
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Speaker 2: money for myself is my parents living paycheck to paycheck.
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Speaker 2: So my parents had their own business. They worked really
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Speaker 2: hard and very long hours, but it was very hard
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Speaker 2: to manage for them. Hearing that they had no money.
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Speaker 2: It was very frequent occurrence in our household, and it
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Speaker 2: was a really big stressor in all of our lives.
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Speaker 2: They did have a business that went into involuntary administration,
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Speaker 2: which sent us bankrupt when I was sixteen, and that
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Speaker 2: took everything from us, our house our car. It was
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Speaker 2: really brutal, but that set my entire perception of money
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Speaker 2: up to be completely negative. I genuinely felt like there
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Speaker 2: was no way I'd ever be comfortable in life knowing
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Speaker 2: that they worked so hard and got nothing out of it.
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Speaker 2: Oh wow. So fast tracked about mid last year and
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Speaker 2: I was scrolling through Facebook and having to come across
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Speaker 2: the She's on the Money Facebook group. Hi welcome, Peach
2:51
Speaker 2: branding kind of drew me in.
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Speaker 5: Oh good, good, it's my favorite.
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Speaker 2: Absolutely and yeah. So I started reading some posts and
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Speaker 2: I felt like I was missing out a lot of
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Speaker 2: cure information. So decided that to go back to episode
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Speaker 2: one and have listened every episode since to catch up.
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Speaker 5: Oh my gosh, have you actually yes?
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Speaker 2: Yeah. So I went through like a whole budget overhaul
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Speaker 2: and felt like I was starting to put myself in
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Speaker 2: a lot better a position. We had a hiccup earlier
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Speaker 2: this year when my dad felt very sick and ended
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Speaker 2: up in a coma. He's all good now, thank god
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Speaker 2: I had. But yeah, so that kind of I feel
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Speaker 2: like put me in a bit of a rut. So
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Speaker 2: I feel like I haven't gotten quite back on track
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Speaker 2: to that point since then. But look, they're getting.
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Speaker 5: There, you're on the way. Oh my gosh, what a
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Speaker 5: money story. I feel like you're really aware of your
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Speaker 5: own money story too, which is quite cool. Yeah, all right,
3:39
Speaker 5: I want to know. I tried to ask you this
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Speaker 5: off air, but just shut it down real quick. What
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Speaker 5: do you do for work and how much money do
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Speaker 5: you earn?
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Speaker 2: Yeah? So I work in recruitment, which I think is
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Speaker 2: what Jess had previously done as well.
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Speaker 1: Well.
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Speaker 2: Yes, so, my annual salary is fifty two thousand plus
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Speaker 2: super and that brings in about sixteen hundred dollars a fortnight. However,
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Speaker 2: all of my finances are shared with my fiance, who
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Speaker 2: brings in around eighteen hundred dollars a four night as well.
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Speaker 5: Oh that's cool. I feel like that's a really good income.
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Speaker 5: Good work. Next question, I have what's your big money goal?
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Speaker 5: What are you currently working towards?
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Speaker 2: I kind of have three on the go three three,
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Speaker 2: my major one being emergency savings. I really need to
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Speaker 2: build that up and it's something we're working really hard towards.
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Speaker 2: I am, as mentioned earlier, building a house in my
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Speaker 2: partner at the moment, so trying to save up to
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Speaker 2: furnish that house because it will be our first house together,
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Speaker 2: both of us living out of home. And also again
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Speaker 2: as mentioned earlier, we are now engaged, so you can.
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Speaker 5: Garras, when's the wedding? Am I allowed to ask about it?
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Speaker 2: Of course, it's going to be April twenty twenty four.
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Speaker 2: We literally just got engaged.
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Speaker 5: Oh my gosh. All right, we'll ask about that later
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Speaker 5: in the show. Next question, do you have any investments so.
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Speaker 2: Aside from my superannuation? No, only because I really want
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Speaker 2: to invest, really do so bad, especially after listening to
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Speaker 2: the podcasts, Like I genuinely always thought it was just
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Speaker 2: a fever dream and was for rich people who knew
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Speaker 2: what they were doing their money. No, it's not, it's
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Speaker 2: not so ever since sort of educating myself with it,
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Speaker 2: I really want to so bad. But our focus is
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Speaker 2: getting our emergency saving set up first and then that
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Speaker 2: will come after.
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Speaker 5: Good. That's the plan. That's how it works, building a
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Speaker 5: strong financial house. I love it. Next question I have
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Speaker 5: do you currently have any debts?
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Speaker 2: Yeah, so we are obviously building a house, so currently
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Speaker 2: it's a weird building loan thing. So there are like
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Speaker 2: progress sort of stages where it adds on to more,
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Speaker 2: but that will be a five hundred thousand dollars loan
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Speaker 2: once construction is complete, so currently we're just doing interest
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Speaker 2: only repayments. We also have one other debt which we're
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Speaker 2: trying to get rid of, which is a joint car loan.
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Speaker 2: So myself and my partner got a car each a
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Speaker 2: few years back, so that's sitting at twenty seven thousand
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Speaker 2: at the moment for both cars.
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Speaker 5: Okay, cool. Next question I have for you? Do you
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Speaker 5: currently use shop back the app?
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Speaker 2: Yeah, groll it frequently.
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Speaker 1: Cool.
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Speaker 2: I have not yet for my first purchase, but I
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Speaker 2: know what I'm getting. I just haven't committed.
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Speaker 5: I love that. I feel like we should all put
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Speaker 5: more than twenty four hours between us and our spending.
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Speaker 5: So that's not a bad thing at all.
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Speaker 2: Absolutely.
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Speaker 5: Next question, my friend, is what is your best money habit?
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Speaker 2: One that I learned completely from She's on the Money
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Speaker 2: was putting time between me and my purchases.
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Speaker 5: Ohio, back like back exactly. You're walking the walk, not
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Speaker 5: just talking.
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Speaker 2: The talk precisely. So that's my best money habit for sure.
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Speaker 5: I love that alright. Flipping it though, what's your worst
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Speaker 5: money habit?
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Speaker 2: Yes? So I am horrible at sticking to a budget
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Speaker 2: when it comes to buying things for my family and friends.
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Speaker 5: I don't think that's bad, that's so kind.
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Speaker 2: Look it is, but gift giving is very much my
6:51
Speaker 2: love language. I love to spoil my friends and family.
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Speaker 2: So set myself a budget, never ever stick to it,
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Speaker 2: and yeah, it's probably my worst app.
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Speaker 5: Oh god, all right. So if we forced you to
7:02
Speaker 5: give yourself a grade when it came to your money habits,
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Speaker 5: what would you grade yourself?
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Speaker 2: I'd say a C. That's where I'm at right now?
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Speaker 5: What makes up that C? And what would it take
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Speaker 5: to get to an A?
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Speaker 2: My emergency savings being built up is one thing I
7:15
Speaker 2: think if you'd asked me this time last year, i'd
7:17
Speaker 2: probably say a bit higher. But I think since my
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Speaker 2: dad was sick, I went totally off track and I
7:21
Speaker 2: need to redo my budget and cash flow and I
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Speaker 2: just keep putting it off and putting it off and
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Speaker 2: putting off because it stresses me out. And I think
7:27
Speaker 2: once that's all sort of back in set in place,
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Speaker 2: it would get me a bit higher and investing would
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Speaker 2: get me to an eight.
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Speaker 5: Yeah cool. You mentioned just then your emergency account and
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Speaker 5: how you're building that up. Have you got a goal
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Speaker 5: number in mind. If so, what's that and why did
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Speaker 5: you pick that number?
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Speaker 2: Right now we are wanting to go around the ten
7:48
Speaker 2: thousand dollar mark. Why that number? Couldn't really tell you.
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Speaker 2: It's just kind of what we became, Like, do you
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Speaker 2: know what that feels like? A safe amount? We have
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Speaker 2: two dogs. We want to be able to have enough
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Speaker 2: that if they have any emergency visit and it's just
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Speaker 2: there and easily attainable, and just anything happened with work,
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Speaker 2: we just wanted a little bit of a backup. Couldn't
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Speaker 2: tell you why we got to ten grand, but we did. No.
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Speaker 5: I love I love asking because everyone is obviously really different,
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Speaker 5: but the defining I guess similarity of literally everyone is like,
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Speaker 5: that's the number that made me feel comfortable. I don't
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Speaker 5: know how you all got to it. I don't know
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Speaker 5: what your process was, but it's always that's the number
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Speaker 5: that makes us feel snug. It's the number that makes
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Speaker 5: us feel like we can make decisions and we're not
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Speaker 5: going to find ourselves in a financial pickle. Exactly, all right,
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Speaker 5: money diarist, We're going to go to a quick break
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Speaker 5: and straight after I want to know a little bit
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Speaker 5: more about your family history don't go anywhere, guys, money diarist.
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Speaker 5: I'm gonna throw all the way back to the first
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Speaker 5: question we asked you at the start of the episode,
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Speaker 5: which was you know about your money story, and you
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Speaker 5: very clearly were able to articulate what had happened to
8:56
Speaker 5: you and your family having gone through a bankruptcy. But
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Speaker 5: I would love to know a bit more about how
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Speaker 5: that guides the decisions that you make today or how
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Speaker 5: it's still impacting you, because I know that that's actually
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Speaker 5: quite significant, Like that's not a little thing to go through,
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Speaker 5: and it does leave a little bit of financial trauma
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Speaker 5: for most people. So you know, how's it impacting you now?
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Speaker 2: It really puts a damper on I feel like kind
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Speaker 2: of everything. It's just something that is always in the
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Speaker 2: back of my mind when we're going through our house
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Speaker 2: buying process, our mortgage broken. The whole way through, sort
9:31
Speaker 2: of just kept reiterating you guys have enough to service
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Speaker 2: this loan, like it's absolutely fine, you meet the criteria,
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Speaker 2: you will be okay. But until we got the sort
9:41
Speaker 2: of piece of paper in the mouth that says you've
9:43
Speaker 2: been approved. If the whole time, I'm like, no, it's
9:45
Speaker 2: being taken away from us, like this is never going
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Speaker 2: to happen. Yeah, it was something that definitely. It kind
9:50
Speaker 2: of just puts a damper on all of the things
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Speaker 2: that should be fun. Yes, So it just kind of
9:55
Speaker 2: makes it in general, just feel like things will be
9:58
Speaker 2: taken away so quickly. My parents are such hard workers,
10:02
Speaker 2: like my dad was working eighty hour weeks. It was
10:05
Speaker 2: full on, next level crazy, and to sort of have
10:08
Speaker 2: everything just ripped from their hands and just put us
10:11
Speaker 2: back really to nothing, it just makes it feel like
10:14
Speaker 2: it's hard to get somewhere. Getting any loans and the
10:18
Speaker 2: debt that we went in for our cars. My partner
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Speaker 2: and I took out a personal loan for two cars
10:22
Speaker 2: for us because I just don't have a way of
10:24
Speaker 2: getting public transport where I live, there's no public transport.
10:28
Speaker 2: We had both got really unreliable cars. We just kept
10:31
Speaker 2: cycling through them, a thousand dollar cars here and there.
10:33
Speaker 2: It just was never going to work. They were just
10:35
Speaker 2: not messes and it was never good. So we needed
10:38
Speaker 2: a car. And being able to commit to that and say, yeah,
10:40
Speaker 2: I'm willing to go into a debt right now was
10:43
Speaker 2: so difficult for me to do because I felt like
10:45
Speaker 2: that's just going to just start the whole process of
10:48
Speaker 2: us being put where they were.
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Speaker 5: Yeah, that must genuinely be so hard, because you obviously
10:53
Speaker 5: want to put yourself ahead financially and make good decisions.
10:57
Speaker 5: But at the same time, it's always in the back
10:59
Speaker 5: of your mind to that, oh, like that could happen.
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Speaker 5: Should I even bother? Should I do this? Should I
11:03
Speaker 5: do that? And I'm assuming it will at some point
11:06
Speaker 5: once you get to the point when you're investing. Make
11:08
Speaker 5: that a little bit more challenging than it might be
11:11
Speaker 5: for anyone else, because you're like, oh, like the risk
11:14
Speaker 5: feels a lot heavier than it might for other people
11:17
Speaker 5: who have never gone through those circumstances. So it's always
11:20
Speaker 5: really interesting to ask questions like that. I'm always like, oh,
11:24
Speaker 5: how did that work? What does that mean? Because I've
11:27
Speaker 5: met people as well who will say, oh, it doesn't
11:29
Speaker 5: like that was theirs. I know how to avoid that,
11:31
Speaker 5: and they're really confident. It's just like, wow, like the
11:34
Speaker 5: same circumstance can lead to so many different outcomes and
11:37
Speaker 5: way people, you know, organize things for themselves.
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Speaker 2: Yeah, definitely, No, I completely agree.
11:43
Speaker 5: I want to pivot though I'm really self serving. Today
11:46
Speaker 5: I'm getting married soon as well. I want to know
11:49
Speaker 5: you said you were going to get married in twenty
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Speaker 5: twenty four. Have you discussed wedding budgets yet?
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Speaker 2: Very vaguely, only because I feel like I've just I
12:00
Speaker 2: don't know how much a wedding costs, and I don't
12:02
Speaker 2: want to set a really unrealistic budget that's way too
12:04
Speaker 2: low that just isn't going to be feasible for what
12:07
Speaker 2: we want to do. So I'm kind of in the
12:09
Speaker 2: process of researching that sort of venues that we'd like
12:13
Speaker 2: and things that we would really want to have as
12:16
Speaker 2: a part of our wedding, and how much that would
12:17
Speaker 2: cost to give us an accurate budget to work towards.
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Speaker 5: So you're having good, open, honest conversations about it, or
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Speaker 5: I guess, are you on the same page?
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Speaker 2: Yes, Yes, I think we are. I think we are
12:28
Speaker 2: good at being on the same page with these sorts
12:30
Speaker 2: of things typically, but absolutely open and honest communication. We're
12:34
Speaker 2: both sort of going through research together and really sort
12:37
Speaker 2: of discussing what's super important for me and what's super
12:40
Speaker 2: important for my fiance to sort of, yeah, get to
12:43
Speaker 2: the final details of what we have to have and
12:45
Speaker 2: what is negotiable to make a budget work. We just
12:48
Speaker 2: don't want to sort of throw out a random figure
12:50
Speaker 2: and say this is our budget and then start going
12:52
Speaker 2: over and over because we haven't researched it.
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Speaker 5: Probably just going to call myself out here, and that's
12:56
Speaker 5: what I did. I was like, Oh, I've seen all
12:58
Speaker 5: my clients, you know, have weddings. I'm obviously a financial advisor.
13:02
Speaker 5: I'm really lucky that when I got engaged, ah if
13:05
Speaker 5: people in our community reached out and they're like, oh
13:07
Speaker 5: my god, Victoria, this is how much I spent and this,
13:09
Speaker 5: this and this, and so my partner and I picked
13:12
Speaker 5: a budget that we thought would work really well, but
13:14
Speaker 5: we hadn't broken it down, and we also had not
13:17
Speaker 5: talked about our values enough. I was just like, Oh,
13:20
Speaker 5: that's heaps of money. That'll be right, Not right, no, right,
13:24
Speaker 5: weddings are expensive. Yeah, I feel like your process is
13:28
Speaker 5: probably going to be far better than mine because I
13:32
Speaker 5: was shocked at how expensive things can be. And I'm
13:35
Speaker 5: not saying they're overpriced. I think I just hadn't ever
13:38
Speaker 5: conceptualized things like flowers and you know, we're not doing it,
13:43
Speaker 5: but cutlery higher. I was like, that's a thing people
13:46
Speaker 5: higher cutlery. It's crazy. So I'm always interested to hear
13:50
Speaker 5: what other people's thought processes are around that because it's
13:53
Speaker 5: stressful as well.
13:55
Speaker 2: Because it is very stressful, there's definitely a ton of
13:58
Speaker 2: things that I never would have even concerned that that
14:00
Speaker 2: very much require. But I'm very lucky that we've got
14:03
Speaker 2: a very good friend who has recently been married, So
14:06
Speaker 2: she's helping me a lot along the way of being like, hey,
14:08
Speaker 2: have you considered this? It's going to come up.
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Speaker 5: How good? I love that you've got someone on your team.
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Speaker 4: How did you go about juggling between you know, you've
14:18
Speaker 4: got your three goals that you mentioned earlier, obviously the
14:20
Speaker 4: wedding and the house, your emergency fund. How did you
14:23
Speaker 4: figure out how to prioritize you know, which of those
14:25
Speaker 4: goals you want to achieve fastest, or how much money
14:28
Speaker 4: you're allocating to each of those things, because they're all,
14:30
Speaker 4: I would say, relatively short term goals, like you're building
14:33
Speaker 4: the house now, your wedding's in a couple of years.
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Speaker 4: How did you figure it all out?
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Speaker 2: Is it bad to say I haven't really?
14:39
Speaker 5: No, that's honest.
14:42
Speaker 2: Look I don't know. I feel like I just sort
14:44
Speaker 2: of sat down and said, Okay, these are the things
14:46
Speaker 2: that we need to work on. Let's just make sure
14:49
Speaker 2: that they're all happening. I think emergency savings is our
14:52
Speaker 2: top priority based on the fact that we have two
14:55
Speaker 2: dogs then my little babies, so I just really need
14:59
Speaker 2: to make sure that they are always all cared for
15:02
Speaker 2: and if anything were to go wrong, I want them
15:04
Speaker 2: to be okay. Obviously, the work that my partner and
15:07
Speaker 2: I do is quite stable all throughout COVID that both
15:12
Speaker 2: my partner and I have jobs that are very much
15:14
Speaker 2: stable and we can do throughout the pandemic, and we
15:17
Speaker 2: never lost employment, which we are so privileged to say.
15:20
Speaker 2: We know that it was very hard for a lot
15:21
Speaker 2: of people, but we were very very lucky. So our
15:25
Speaker 2: employment being quite stable was something that meant that our
15:29
Speaker 2: priority is more so light in making sure our pets
15:33
Speaker 2: were okay. If our cars were to break down, which
15:35
Speaker 2: were our sole means of getting absolutely anywhere, that we
15:39
Speaker 2: would have the ability to do that. So that's why
15:41
Speaker 2: our emergency savings was first. House and wedding. Wedding is
15:45
Speaker 2: something that, as horrible as it would be, if we
15:48
Speaker 2: had to push it back, it could get pushed back
15:50
Speaker 2: it's not going to be the end of the world
15:52
Speaker 2: and our house. We kind of put that in the
15:54
Speaker 2: middle just because it's going to come up earlier than
15:57
Speaker 2: the wedding. But also we're going to need a bed,
15:59
Speaker 2: We're going to need a cat. It's probably gonna also
16:01
Speaker 2: need a fridge. Like, it's just basic things that, yeah,
16:04
Speaker 2: we feel like it's probably gonna be required to live.
16:08
Speaker 5: Yeah, but it's all things that need to be taken
16:10
Speaker 5: into consideration, right, and they can start adding up and
16:13
Speaker 5: feel all consuming and overwhelming. I want to go back
16:17
Speaker 5: to the wedding conversation. Jess. Sorry, sorry you got engaged recently.
16:21
Speaker 5: That's one so fun one. How did you ask? In
16:25
Speaker 5: a nutshell, Jess is going to kill me for not
16:26
Speaker 5: asking fin next questions.
16:28
Speaker 2: It's fine. In a nutshell. I thought I was surprising
16:31
Speaker 2: him with the puppy of his dreams. He's always wanted
16:33
Speaker 2: a Bernie's Mountain dog.
16:34
Speaker 5: Oh my gosh, I've always wanted a Bernie's Mountain Dog.
16:37
Speaker 2: I have one now.
16:39
Speaker 1: Oh so cute.
16:40
Speaker 2: I thought I was surprising him with, Yeah, the Bernie's
16:43
Speaker 2: Mountain Dog, puppy of his dreams. We were driving there.
16:46
Speaker 2: He took a wrong turn turns out my best friends
16:49
Speaker 2: had told him I was surprising him with this stubby
16:52
Speaker 2: and instead we showed up with a giant box with
16:55
Speaker 2: a bowl on it and a massive picnic setup, and
16:58
Speaker 2: she was in the box and it was so useful. Yeah,
17:04
Speaker 2: it was the most exciting thing ever and bore my
17:07
Speaker 2: eyes up very long time.
17:08
Speaker 5: Oh my gosh, So you didn't know your proposal was
17:11
Speaker 5: coming at all?
17:12
Speaker 2: No, I had no inkling, which shocked me to my
17:15
Speaker 2: core because my partner cannot keep a secret to save
17:17
Speaker 2: his life.
17:18
Speaker 5: Oh so that's what I'm trying to get too. How
17:21
Speaker 5: did you guys pay for the ring?
17:23
Speaker 1: Like?
17:23
Speaker 5: How well, that happened exactly.
17:26
Speaker 2: So all of our funds are shared, which is why
17:28
Speaker 2: I didn't see it coming. He had asked me one week, Hey,
17:32
Speaker 2: can I just give my mom and dad a hand
17:34
Speaker 2: with some rent money? I was like, yeah, of course,
17:36
Speaker 2: So he took it out of the savings. It was
17:38
Speaker 2: only like three hundred dollars snyear, So three hundred dollars
17:42
Speaker 2: is a cat wrote rent money on the description, and
17:45
Speaker 2: then that was his deposit for the ring, and it
17:48
Speaker 2: was being custom made, so he didn't have to pay
17:50
Speaker 2: the last part of it. Until it was finished. So
17:53
Speaker 2: he reached out to my best friend. He's like, look,
17:54
Speaker 2: this is a massive ask. Can you pay for it
17:56
Speaker 2: the day that I propose, I'm going to pay it
17:58
Speaker 2: back to you. I just don't want it to come
18:00
Speaker 2: out of our account. Oh I love that, And she's
18:03
Speaker 2: so beautiful, and she said, of course I can, and
18:06
Speaker 2: I bought her eyes up the whole time speaking to
18:08
Speaker 2: him as well. She's very excited. Yeah, so she paid
18:11
Speaker 2: for it, and then as soon as he proposed, we
18:13
Speaker 2: just transferred it over so I didn't see anything.
18:16
Speaker 5: Oh my gosh, that's a good way to keep a
18:18
Speaker 5: secret if you've got someone on your team. Yes, I
18:21
Speaker 5: wouldn't have even known. Jess, what questions have you got.
18:24
Speaker 5: I'm sure that they're better than mine.
18:26
Speaker 4: Your partner sounds like such a dream. And I love
18:29
Speaker 4: how you said in your right into us that you
18:32
Speaker 4: were helping to kind of lift his level of financial literacy.
18:36
Speaker 4: We love to see it, first of all, but I
18:38
Speaker 4: wanted to know how are you going about that, because
18:41
Speaker 4: we've spoken to people in the past when there's been
18:44
Speaker 4: discrepancies in people's levels of financial literacy, which is so
18:48
Speaker 4: okay because we all, you know, we get what we get,
18:50
Speaker 4: and we do the best we can with what we have.
18:52
Speaker 4: But sometimes people can be a little bit resistant because
18:56
Speaker 4: it makes them feel like they weren't as educated or
19:00
Speaker 4: you know, it can make people feel lesser than sometimes
19:02
Speaker 4: when they have to learn something from someone that they
19:05
Speaker 4: know personally. How have you guys gone through that? Is
19:09
Speaker 4: he receptive? Have he had to be conscious of certain things?
19:12
Speaker 4: What does that look like for you guys?
19:14
Speaker 2: I think the very first time I approach him about
19:17
Speaker 2: sort of helping him learn something it was actually investment related.
19:22
Speaker 2: He was a little apprehensive, definitely on the side of
19:24
Speaker 2: I don't want to feel like you're telling me what
19:26
Speaker 2: I don't know, something like in the sense of not
19:29
Speaker 2: in a territorial kind of way, but more so like
19:32
Speaker 2: do you think I don't know what I'm doing? Like?
19:35
Speaker 2: Do you think I don't have an idea? He definitely
19:37
Speaker 2: knew more than I did before I even started listening
19:40
Speaker 2: to the podcast, And when I asked him to start
19:43
Speaker 2: doing it, I sent him a podcast link and said, hey,
19:45
Speaker 2: I want you to listen to this purely based on
19:48
Speaker 2: I want you to be on the same understanding of
19:50
Speaker 2: I am. I want you to look at it the
19:51
Speaker 2: same way that I'm looking at it and teach me
19:54
Speaker 2: what I'm missing? What did you not hear in this
19:57
Speaker 2: that you know? And we sort of came at it
19:59
Speaker 2: and more of like a team way and saying that, Hey,
20:02
Speaker 2: let's brainstorm and mind at this together and work out
20:05
Speaker 2: what you have that I don't.
20:06
Speaker 5: Who are you guys? Your wizards?
20:09
Speaker 2: Yeah, he's brilliant. I love him.
20:11
Speaker 5: We love him too.
20:13
Speaker 2: He's very smart. Yeah, very receptive to anything. And I
20:17
Speaker 2: think as well, he came from a very low income
20:20
Speaker 2: household as well, so he was very receptive to learning
20:24
Speaker 2: more if it was going to put us in a
20:25
Speaker 2: better position. Call. He's on board. Once I sort of
20:28
Speaker 2: explained I'm listening to this because I want us to
20:31
Speaker 2: be in a good spot. I want to invest, I
20:33
Speaker 2: want to understand money and how it all works. He's like, yeah, cool,
20:37
Speaker 2: I'm on board whatever you want to do.
20:39
Speaker 5: What a honey. I actually adore that you're just on
20:42
Speaker 5: the same page about that stuff, because so many people aren't,
20:46
Speaker 5: or so many people are just really apprehensive because they
20:50
Speaker 5: think the conversations are too hard to have, or they
20:52
Speaker 5: feel overwhelming, or they just you know, it never feels
20:55
Speaker 5: like the right time so I just I'm loving this
20:57
Speaker 5: conversation of like, oh, no, we're on the same page.
20:59
Speaker 5: I made him listen this podcast, and now we're on
21:01
Speaker 5: the same page and we have these chats like that's
21:02
Speaker 5: so good. I want that for everybody very privileged. I
21:07
Speaker 5: definitely understand that not everyone's as lucky, and I'm very,
21:10
Speaker 5: very very lucky that I am. No, it is very
21:13
Speaker 5: very cool.
21:14
Speaker 4: One last question from me, and now it's my turn
21:17
Speaker 4: to be a little bit self serving. You're building a house.
21:20
Speaker 5: What process looked like for you?
21:22
Speaker 4: How did you decide to build rather than purchasing something
21:25
Speaker 4: that was established.
21:27
Speaker 2: I think one of the major things is that my
21:31
Speaker 2: partner came from a low income household. I came from
21:34
Speaker 2: a very rocky financial household. We never had the brand
21:38
Speaker 2: new house, We never had the exciting new finishes like
21:42
Speaker 2: what we had dreamt of. That was never a thing
21:43
Speaker 2: in either of our lives. So, apart from the fact
21:47
Speaker 2: that prices were going sky high, when we were looking
21:50
Speaker 2: at buying or building with established homes, we seemed to
21:55
Speaker 2: find that it was staying a little bit more consistent
21:57
Speaker 2: with building. So that was the first indicator for us
22:01
Speaker 2: to start leaning towards building over being established. But I
22:04
Speaker 2: think the major kicker was definitely we want the house
22:08
Speaker 2: that's the brand new, the shiny, the everything that we
22:11
Speaker 2: picked that's perfect for us compared to something that was
22:15
Speaker 2: made for someone else and we're just sort of fitting
22:17
Speaker 2: into it.
22:17
Speaker 4: How did you find the process of picking everything out,
22:20
Speaker 4: like if you wanted it to be exactly yours? Did
22:23
Speaker 4: you have a lot of fun and picking your finishes?
22:25
Speaker 4: And I always think about how you know how when
22:27
Speaker 4: you build there's tears so you can get like your
22:30
Speaker 4: standard door handles or your did you find that there
22:35
Speaker 4: are a lot of those? And did it eat into
22:38
Speaker 4: your budget? Like did you find it hard to? I
22:40
Speaker 4: guess balance what you want? It would be me what
22:42
Speaker 4: you could afford, because give me all the shiny things, please, Yeah,
22:45
Speaker 4: that would be me as well.
22:46
Speaker 2: Exactly. I think we went in presuming, well, we were
22:51
Speaker 2: told that to expect to spend about thirty grand on upgrades,
22:54
Speaker 2: because that includes things like you're air conditioning, you're flooring,
22:56
Speaker 2: everything like that that's not included in our base quote.
22:59
Speaker 2: So we went in with that idea that it was
23:01
Speaker 2: going to be about thirty grand. When we went in,
23:05
Speaker 2: we tried as best we could stick to that budget
23:07
Speaker 2: and came in t ten grand on us, So we
23:09
Speaker 2: spent twenty grand at selections.
23:11
Speaker 5: Oh my gosh.
23:12
Speaker 2: We picked a builder that had a lot of good
23:14
Speaker 2: standard inclusions that were what we knew we would want
23:18
Speaker 2: to pick. So when choosing our builders, we found some
23:21
Speaker 2: had very limited standard inclusions that were just completely opposite
23:25
Speaker 2: style of what we would want anyway, and that we
23:27
Speaker 2: would have to spend a lot upgrading to get what
23:29
Speaker 2: we want. So we went with someone that had good
23:32
Speaker 2: standard inclusions, went and looked at their Discovery sales centers
23:37
Speaker 2: as well, so you can look at your options for
23:40
Speaker 2: selections before you even picked your builder. At a lot
23:42
Speaker 2: of builders, so we did that and picked one that
23:44
Speaker 2: we were like, yeah, this is where we want to go.
23:47
Speaker 2: Enjoyed the process so much, designing that sort of stuff
23:50
Speaker 2: and picking all the finishings for the home was Yeah,
23:53
Speaker 2: the most exciting part was amazing.
23:55
Speaker 5: Jess is just like taking notes. It was running down
23:59
Speaker 5: a Discovery sales She's like, I'm going to google that later.
24:05
Speaker 5: Where do you want to come? Oh my gosh, how
24:08
Speaker 5: exciting though that you're building your own home. Did you
24:10
Speaker 5: ever think that that was going to become the reality
24:13
Speaker 5: for you.
24:14
Speaker 2: Never, not even in my wireless dreams. I just entirely
24:18
Speaker 2: felt like if I am not working the eighty hours
24:22
Speaker 2: my dad did, how would I ever have a chance
24:25
Speaker 2: like this is not ever going to happen for us.
24:28
Speaker 2: My partner was also not learning a lot of money
24:31
Speaker 2: when we first got together. We got together eight years ago.
24:34
Speaker 2: I was fourteen, he was sixteen. Oh my gosh, baby
24:37
Speaker 2: little babies. So when we got together we both worked
24:41
Speaker 2: in Maccis. It was good. It was nothing that was
24:45
Speaker 2: ever going to set us up to build a house,
24:47
Speaker 2: and to be where we are right now is insane,
24:50
Speaker 2: never ever ever expected to be in this point.
24:53
Speaker 5: Oh my gosh, I am so proud of you. Look
24:55
Speaker 5: what you did.
24:56
Speaker 2: How exciting me?
24:57
Speaker 5: Is that? What a queen? Oh my gosh, but Jess,
25:01
Speaker 5: I think we're out of time. Money Dores, thank you
25:04
Speaker 5: so much for joining us. It has been an absolute
25:06
Speaker 5: pleasure hanging out with you and learning about your money story.
25:09
Speaker 2: Thank you so much for having me. I have had
25:12
Speaker 2: a wonderful time.
25:13
Speaker 5: Oh my gosh, All right, yes it is time. Can
25:16
Speaker 5: you rab the boring but important stuff pretty please?
25:19
Speaker 4: Yes? Guys, don't forget the advice. Sheared on She's on
25:21
Speaker 4: the Money is general in nature and does not consider
25:24
Speaker 4: your individual circumstances. She's on the Money exists purely for
25:27
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25:30
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Speaker 4: InFocus Securities Australia Proprietary Limited ABN four seven oh nine
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25:45
Speaker 5: See you on Wednesday. Guys, Bye,